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Wednesday, May 8, 2024

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Budget Speech 2024 finance bill 2024-25

Budget 2024-2025 

Federal Budget speech will be delivered by Finance Minister Mr. Muhammad in the first week of June 2024. The annual meeting of APCC will be held on May 28-29 in which funds will be approved for various ministries and divisions. The budget for the new financial year is proposed to be presented in the first week of June. 

IMF has stressed to decrease the Tax slabs from five to four. at present the Tax rates are upto 35%, 27.5%, 22.5%, 12.5% , 2.5% . by Decreasing one slab will affect the middle income salaried individuals. IMF also wants to eliminate the Tax reductions especially 25% tax reduction to the researchers and Teachers for a plan to create 670 Billion Rupees per annum for this budget 2024-2025.

Increase in Salary and Pension:

An increase of 15% increase is expected in Basic Salary of Government Employees and Pensioners, however news of upto 25% increase is also circulating in the people as per sources claimed. 

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