The federal cabinet has given the green light to the budget proposals for the upcoming financial year, sanctioning a significant 25 percent salary increase for government employees.
In a crucial meeting chaired by Prime Minister Shehbaz Sharif, the cabinet approved the budget proposals for the fiscal year 2024-25.
The budget also includes comprehensive packages aimed at supporting farmers, youth, and industries.
Sources indicate that the Federal Finance Minister Muhammad Aurangzeb, will detail these initiatives in his budget speech to be presented in the National Assembly shortly.
This decision comes as a relief to government employees who have been advocating for better remuneration in light of rising living costs. The 25 percent salary hike is expected to boost the morale of public servants and improve the efficiency of public administration.
The package for farmers is anticipated to include subsidies and support mechanisms to enhance agricultural productivity and ensure food security. Similarly, the youth package is expected to feature programs designed to promote entrepreneurship, skill development, and employment opportunities.
Industries will also receive attention through incentives aimed at boosting industrial growth, innovation, and competitiveness in the global market. These measures are part of a broader strategy to invigorate the economy and create a more robust, resilient industrial sector.
Prime Minister Shehbaz Sharif stressed the government's resolve to implement policies that foster economic stability and growth. He highlighted that the budget reflects a balanced approach, catering to the needs of various segments of society while maintaining fiscal discipline.
