Economy

Federal cabinet gives nod to budgetary proposals for FY 2019-20

Islamabad, June 11, 2019: The Federal Cabinet, chaired by Prime Minister Imran Khan, on Tuesday, gave approval to the budgetary proposals for the fiscal year 2019-20.

In a special meeting held here at the PM Office, the cabinet discussed and
approved the proposals of budget 2019-20 that focused on economic stability and sustainable growth, with an emphasis on austerity, revenue
generation and uplift of down-trodden.

Cabinet members decide 10 pc cut in their salaries

The federal government Tuesday set a precedent in the country’s history when its cabinet members voluntarily decided ten percent reduction in their salaries.

Minister of State for Revenue Hammad Azhar, in his budget speech, announced that the federal cabinet had set a historic precedent by slashing their salaries.

The decision was taken in view of the financial situation of the country.

The Prime Minister had already desired austerity measures from the top for setting precedents for the general public.

Govt employees, pensioners get a 10pc raise

The government Tuesday announced a 10 percent raise in salaries of government employees from BPS 1 – 16, a five percent increase for those in BPS 17-20, besides a 10 percent enhancement in the pensions of civil and military officials. Minister of State for Revenue, Hamad Azhar in his budget speech at the Parliament House said there would be no raise of salary for officers in BPS 21-22.

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