Government employees get 15% pay rise

ISLAMABAD: The government on Friday announced a 15% increase in federal government employees.

Finance Minister Miftah Ismail during the presentation of the 2022/2023 budget announced a 15% salary increase for government employees.

LEARN MORE: The share of domestic electricity consumption is falling

The Minister of Finance said that despite the fact that the country is facing a severe fiscal crisis, we are now aware of the difficulties faced by government employees.

The rise in prices has seriously affected household spending, especially that of the working class, but despite the serious budgetary difficulties and the lack of resources. The salaries of civil servants are increased by 15 percent in order to improve their purchasing power.

READ MORE: Estimated average inflation of up to 12% in FY22

It is proposed to increase the basic threshold of the taxable salary to 12 lacs against the current 6 lacs for employees. This would pass tens of billions of rupees to employees.

This will generate a positive economic cycle in which this money would be transferred to companies as the disposable income of employees increases, so ultimately the government will benefit from the prosperity of the company, the creation of more jobs and tax revenue in the future. .

READ MORE: The federal government presents the 2022-2023 budget