PM Shehbaz increases govt employees' salaries by 25%

Prime Minister Shehbaz Sharif has given approval to increase the salaries of government employees by 25 percent in the next federal budget 2024-25, sources said on Wednesday

The increment was approved during budgetary proposals for the coming fiscal year 2024-25.

The hike will reflect on the month monthly pay cheque for grades 11-16.

According to the sources, the government also hiked the salaries of grade 17 to 22 employees by 20 percent.

Sources added that the federal cabinet approved an increase of 15 percent in pensions.

On the other hand, the total public debt was recorded at Rs67.53 trillion in the first nine months of the outgoing fiscal year in March 2024.

The breakdown showed that the total local debt stood at Rs43.43 trillion in March 24, while external debt reached Rs24.09 trillion.

The total debt is equivalent to 74.8% of the country's GDP, with external debt accounting for 28.6% and domestic debt making up 46.2% of the GDP.

Every Pakistani man, woman, and child owes Rs280,000 to foreign and domestic lenders during the outgoing fiscal year.

The federal government will unveil the Rs18.5 trillion budget for fiscal year 2024-25 on Wednesday (today) in the National Assembly.