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The government has increased the pensions of federal pensioners by 10% – IG News

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ISLAMABAD: The government has increased the pensions of federal pensioners by 10 percent.

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The federal government has announced next year’s budget not to impose a new tax on the salaried class and a 10 percent increase in the salaries and pensions of government employees.

Finance Minister Shaukat Tareen during his budget speech said that the pension of federal pensioners will be increased by 10% from July 1, the orderly allowance is being increased from Rs 14,000 to Rs 17,500 per month.

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The Finance Minister said that the allowance of Grade 1 to 5 employees is being increased from Rs 450 to Rs 900, while the minimum wage is being increased to Rs 20,000 per month to reduce the burden of inflation on low income earners.

Shaukat Tareen said that the current expenditure in the budget is being increased from Rs. 6561 billion to Rs. 7523 billion with 14%, Rs. 682 billion is being set aside for subsidies and 1. 1.1 billion will be spent on import of Corona vaccine.

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The finance minister said that 100 million people would be vaccinated by June 2022.

The government has given FED exemption on purchase of goods through bank cards, tax exemption has been given on electric vehicles, kits, CKDs while federal excise duty on electric cars has been abolished.

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