No salary or pension hike planned in budget, says FinMin Aurangzeb
Business
Employees waiting for the raise will have to make do with the current structure
ISALMABAD (Dunya News) – Finance Minister Senator Muhammad Aurangzeb has made it crystal clear that there is no room for a salary or pension hike for the government employees in the upcoming budget.
In a written response to the National Assembly, the minister stated that pay scales and allowances won’t be revamped through the hiring and ceiling limits are under review.
Employees waiting for the raise will have to make do with the current structure.
Meanwhile, the Finance Ministry laid bare the country’s financial struggles, revealing that as of June 2023, external debts stood at a whopping $126.141 billion making up 43.03 per cent of GDP.
Adding fuel to the fire, the commerce Ministry reported a massive trade deficit of$154 billion over the past five years.
While exports clocked in at $136 billion, import shot up to $291 billion, mainly due to economic growth and rising demands.
