Govt employees likely to get salary raise in FY2023-24 budget

ISLAMABAD: Government employees are likely to get salary raise in the FY2023-24 budget, ARY News reported, quoting well-placed sources in the finance ministry. 

As per details, the total outlay of the budget will be over Rs14,000 billion while the deficit is likely to stand at Rs5,000 billion.

The salary increment has been proposed for the government employees in the upcoming FY2023-24 budget, the sources said and added the government and finance ministry are divided on the per centage of the salary increment.

The government wants to announce 30pc salary raise in the upcoming budget, while the finance ministry is suggesting a raise between 15 to 20pc, the sources said.

Read more: FY 2023-24 Budget likely to be presented in first week of June

The Federal Board of Revenue (FBR) will likely get the target of collecting Rs 9,200 billion in the upcoming budget. The proposal to increase the aid via Benazir Income Support Programme is also forwarded.

Sources said that the FY 2023-24 federal budget is planned to be presented before the cabinet and the Parliament in the first week of June.

“The new fiscal year budget is likely to be prepared under the dictation of the IMF.”