Punjab increases minimum wage by Rs7,000 amid record inflation

LAHORE – The caretaker Punjab government has approved an increase in the minimum wage of the workers amid record inflation in the country.  

A notification issued by the provincial government said the minimum age had been set as Rs32,000 per month after an increase of Rs7,000.

Earlier, the government had set Rs25,000 minimum wage in the budget 2022-23.

According to the Pakistan Bureau of Statistics (PBS), the weekly inflation reached 46.65 percent on an annual basis during the previous week, indicating an unprecedented price hike experienced by low- and middle-income consumers in the country.

Inflation measured by the Consumer Price Index (CPI) has swelled more than doubled since March last year when it was recorded at 12.7 percent and hit 31.5 percent last month. The high inflation has badly affected the salaried class which depends on a fixed income.

Weekly inflation reaches 42.27pc in Pakistan