ISLAMABAD: According to news reports on Tuesday, the Ministry of Finance has suggested a 20 percent salary increase for government employees.
The federal cabinet would decide on this topic, according to reports that the finance minister, Ishaq Dar, had postponed it. In the midst of the nation’s economic crisis, the administration will release a budget in June with a total expenditure of Rs14,600 billion.
The government deficit goal for the current fiscal year is Rs7,800 billion, therefore the budget deficit, or difference between expenses and income, could be as much as Rs7,800 billion.
According to sources, the budget deficit for the fiscal year 2023–2024 is projected to be around 7.4% of GDP.
The federal government may spend about 64% of the budget on debt payment and defence after adding the requested defence budget from the Ministry of Defence, according to sources.
