Government Raises Minimum Wage to Rs. 37,000 in New Finance Bill

The Government of Pakistan has proposed an increase in the minimum wage from Rs. 32,000 to Rs. 37,000, as part of the finance bill for the fiscal year 2024-25. According to the details released, this change will set the minimum wage for all workers in the country at Rs. 37,000. The move is designed to combat rising inflation and improve the financial stability of the working class. In addition to the wage increase, the government has also suggested salary increments for federal employees. Those in grades 1 to 16 will see a 25% raise, while employees in grade 17 and above will receive a 20% increase. Furthermore, to support pensioners, the government has proposed a 15% increase in pension payments, providing much-needed relief to retired workers. These measures reflect the government’s commitment to alleviating economic pressures and supporting the financial well-being of its citizens. For live updates on everything about the Federal Budget, visit this link.