Key Salary and Tax Changes Expected in Pakistan’s FY 2024-25 Budget
Sources said the government is working on different proposals for salary increases in the range of 10 to 15% for public sector employees in the upcoming budget FY 2024-25.
On the salaries front, the Ministry of Finance wants to raise the salary by just 10%, say sources.
There is another proposal under consideration to jack up monetization for higher grade officers of grades 20, 21, and 22 in the range of 20 to 25%.
The grade 20 officers have been getting monetization of cars in the range of Rs67,000 per month, grade 21 officers in the range of Rs77,000 per month, and grade 22 officers of Rs87,000 per month.
The federal budget 2024-25 will likely get approval from the Senate by June 26. The Pakistani government is likely to end tax exemptions in the FY2024-25 budget on the IMF’s demand.
According to budget proposals for the budget 2024-25, Pakistan is likely to end exemption on sales and income tax, phase-wise.
The government is also considering imposing a sales tax on tractors and pesticides, potentially leading to price hikes for these essential agricultural products.
