Finance Minister of Pakistan Government Muhammad Aurangzeb on Wednesday presented the Pakistani budget for the financial year 24-25 in which he talked about increasing the salary of government employees by 25 percent.
In his budget speech, the minister said that we have to spend a large amount on pension, which is continuously increasing year after year. We have brought new reforms in the pension scheme, which will make it like some of the best pension systems in the world.
The minister said that we have brought a new pension system for new employees. In which the employees are also asked to deposit a part of their salary in the pension fund every month, and the government will deposit some part in it. Talking about the financial pressure on the employees due to this pension fund, the minister said that we know that inflation is high, due to which we will increase the salary of the employees by 25 percent. This new pension system of Pakistan is similar to the Indian new pension scheme, in India people are continuously protesting against this pension system.
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This budget of the government of Pakistan is of 67.84 billion dollars, in which they have expressed hope of achieving an economic growth rate of 3.6 percent in this financial year. This budget can help Pakistan, which is constantly facing economic problems, to get a new bailout package from the IMF.
Pakistan has set a target of spending about 2.1 trillion Pakistani rupees on its army. Along with this, it has set a target of spending 1 trillion Pakistani rupees on the pension fund. Let us tell you that in the world market, 1 dollar is equal to 278.60 Pakistani rupees.
