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Finance Minister Ishaq Dar on Friday unveiled a Rs14.46 trillion budget for the fiscal year 2023-24 with “no new taxes” and aiming to grow at a cautious rate of 3.5%.
However, the federal government also took some relief measures in the budget as the nation suffers from back-breaking inflation.
Here are the relief measures
- Increase in BISP allocation from Rs400 billion to Rs450 billion
- Targeted subsidy on wheat flour, ghee, pulses, rice through USC
- Increase in salaries of civil servants in the form of Ad-hoc Relief Allowance
- Increase in rates of following allowances
- Daily and mileage allowance
- Additional charge current charge allowance
- Orderly allowance
- Special conveyance allowance for disabled
- Increase in pension and increase in minimum pension to Rs12,000
- Minimum wage increase from Rs25,000 to Rs30,000 in ICT Loan write-off scheme for widows
- Health insurance card for working journalists and artists
Prime minister’s initiatives — Planning Development and Special Initiatives (PSDP)
| Areas of interventions | Allocation in Rs billions |
| PM initiative for solar tubewells | Rs30 billion |
| PM youth program for small loans | Rs10 billion |
| Pakistan endowment fund for education | Rs5 billion |
| PM initiative for IT startups and venture capital | Rs5 billion |
| PM initiatives for women empowerment | Rs5 billion |
| PM laptop scheme | Rs10 billion |
| PM green revolution | Rs5 billion |
| PM youth skill development | Rs5 billion |
| Other initiatives (sports and hepatitis C control program) | Rs5 billion |
| Total | Rs80 billion |
Salaries of govt employees
The federal cabinet increased the salaries of government employees up to 35%.
- Pension — 17.5% to Rs12,000
- EOBI pension — Rs10,000
- Increase in salaries for employees of grades 1-16 — 35%
- Above 17 — 30%
- Minimum wage set to Rs32,000
- Increase in medical and conveyance allowances — 100%
- Increase in ad hoc allowances — 10%
- Debts of widows to be paid up to Rs1 million
- Deposit limit in national savings accounts for martyrs — Rs7.5 million
- Limit for Behbud Savings Certificate — Rs7.5 million
- Targeted subsidy programme to provide daily-use items — Rs25 billion
