Finance Ministry has proposed a 15-20% hike in wages in the upcoming federal budget 2024-25.
According to sources in the ministry, it is proposed to increase the bureaucratic monetization policy from 40,000 to 60,000, while the monetization for officers up to grade 20 is increased from 65,000 to 105,000. .
They said that a 10% increase in officers’ salaries from Grade 1 to Grade 20 would have an impact of $80 billion on the national coffers.
Sources also said there was a demand for a 200% increase in medical and transport fees for students in grades 1-16.
Additionally, employees in grades 1 through 16 now receive $1,800 in transportation and $1,500 in medical benefits, while employees in grades 17 and 18 receive $5,000 in transportation benefits.
There is also a proposal for a 200% increase in traffic.
Ministry sources said that 16th grade students will receive an inequality allowance of 25% and 15% in 2021 and 2022 respectively. In the upcoming budget, the ministry has proposed to continue the disparity allowance to bridge the gap between provincial and federal workers.
It also noted that proposals to increase salaries and allowances are at an early stage. The final decision will be taken by Prime Minister Shehbaz Sharif in consultation with the Finance Minister and ministers.
