ISLAMABAD: Government employees are likely to receive compensation increases in the FY2023-24 budget.
Details indicate that the budget will spend nearly Rs 14,000 billion in total, with a projected deficit of Rs 5,000 billion.
According to the sources, the administration and finance ministry disagree on the percentage of the proposed compensation increase for government employees in the upcoming FY2023–24 budget.
According to the sources, the finance ministry is recommending a rise between 15 and 20 percent while the administration intends to propose a 30 percent pay increase in the 2019 budget.
Read more: Salary Increase In Budget 2023-24 Pakistan
In the forthcoming budget, the Federal Board of Revenue (FBR) is likely to meet its goal of collecting Rs 9,200 billion. Additionally, the idea of increasing aid through the Benazir Income Support Programme is put forth.
According to sources, the federal budget for FY 2023–24 would be unveiled to the cabinet and Parliament during the first week of June.
“It is likely that the IMF will direct the preparation of the new fiscal year budget.”