Business

LAHORE – Salaries and pension of government employees are likely to be increased about 15 percent in the upcoming budget for the fiscal year 2017-18.

According to sources, preparation of budget has entered the final phase. Source added that allocated amount with 45pc increase could be Rs395bn against salaries.

Similarly, funds amounting to Rs 275 billion with Rs30bn increase are likely to be allocated against pension of government employees in the budget for the next financial year 2017-18, sources added.

Sources also added that allowances of government employees are likely to be increased. The federal government is busy trying to increase the annual development budget that could be Rs850bn. More funds are likely to be allocated to overcome the shortage in the energy sector.