Budget 2024-25: Salaries increase in Pakistan from July

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) led federal government will present a budget for the fiscal year 2024-25, with an estimated outlay of over Rs18 trillion, on June 12 (today).

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb will present the budget in the National Assembly.

Meanwhile, PML-N parliamentary party meeting has recommended Prime Minister Shehbaz Sharif to raise of government employees by 25 per cent.

The meeting also suggested the prime minister to increase grade17-22 employees’ salaries by 20 per cent, they say.

According to budget 2024-25 proposals, Pakistan has planned to get tax from real estate sector in three slabs.

Filer buying property worth Rs50 mln will have to pay 3 pc tax, as per sources, while non-filer will pay 6 pc tax, the sources said.

Property worth Rs50 to 100 mln will be slapped 4 pc tax for filers and 12pc for non-filers.

In third slab, non-filer buying or selling property wroth over Rs100 mln will be slapped with 5pc tax, while the non-filer will pay 15pc tax.