Last Updated on: 15th July 2023, 01:08 pm
Federal Budget 2022-23: Cabinet Accepted A 15-Piece Increase In Govt Employees’ Salaries
A special meeting of the federal cabinet on Friday approved the proposed federal budget for fiscal year 2022-23, News Media reported.
The special cabinet meeting, chaired by Prime Minister Shehbaz Sharif and attended by federal ministers, advisers and special assistants, approved the 2022-23 draft budget.
Information Minister Mariyum Aurangzeb announced on Twitter that the federal cabinet had approved a 15 percent salary increase for government employees and a 5 percent increase in pensions.
“The government has also approved the merging of ad hoc allowances with the base salary,” he also announced.
The coalition government is preparing to present the budget for the next fiscal year 2022-23 before the National Assembly (AN) today (Friday).
According to the Minister of Finance and Revenue. Miftah Ismail is due to present the budget of more than Rs 9.5 trillion to the National Assembly at 4pm. The budget has been formulated taking into account the existing challenges faced by business both nationally and internationally. Miftah Ismail will also introduce Supplemental Grants 2021-22 and Finance Bill 2022.
Given the strong revenue growth in the current fiscal year (2021-22), the government is expected to set the revenue collection target for the fiscal year 2022-23 at more than Rs 7 trillion. The coalition government has decided to allocate Rs 800 billion for the Public Sector Development Program (PSDP) in the next fiscal year, the sources said.
Also Read: Federal Govt Employees Salaries Will Increase in Budget 2022-23
The Federal Budget 2022-23 Have Been Presented Today
A development budget of Rs. 800 billion has been proposed for the next fiscal year, of which Rs. 538 billion will be allocated to federal ministries and departments.
Meanwhile, the Government has decided to allocate Rs 25,000 crore to the Atomic Energy Commission, while Rs 41,870 crore will be allocated to the Higher Education Commission (HEC) and Rs 2,500 crore to Aviation. Rs 84 crore has been proposed for the energy sector, Rs 83 crore for water projects, and Rs 39 crore will go to the Ministry of Housing and Planning.
In addition, the Ministry of Climate Change will receive 9.5 billion rupees. It was proposed to allocate Rs. 10.47 billion to the Ministry of Home Affairs, Rs. 12 billion to the Ministry of Health, Rs. 12 billion to the Ministry of Food Safety and Rs. 3.1 billion to Maritime Affairs.
Also Read: Federal Govt Announced The Salary Increase in Budget 2022-23
