No Government salary increase in budget 2020-21?

The government decides not to increase salaries in budget 2020-21


The IMF called on the government to reduce spending to control the fiscal deficit

No Government salary increase in budget 2020-21?

ISLAMABAD: The International Monetary Fund (IMF) has demanded the Government to cut spending to control the fiscal deficit, with no increase in the salaries of government employees. According to the details, a few days ago, it was reported that the government may increase 20 % salaries and pensions of Govt. employees in budget 2020-2021 as per the wish of Prime Minister of Pakistan

According to a report in an English newspaper, the IMF has started pressuring the Federal Government not to increase the salaries of government employees and reduce other expenses. The IMF has called on the government of Pakistan to reduce its expenditure to reduce the fiscal deficit. According to sources in this regard, sources in the Ministry of Finance said that negotiations are underway between Pakistan and the IMF on Budget 2020-21

It is learned that the IMF program will resume in the new financial year. The IMF program is safe until September, while the December economic review is likely to be difficult. The IMF proposes to set a target of Rs 5,100 billion for the next financial year. 

It has been reported that electricity and gas prices are likely to rise as soon as Corona is depleted. Similarly, sources said that the staff of the IMF during their recent visit to Islamabad has proposed strict policies regarding the budget. Similarly, the Provincial Government of Punjab also follow footsteps of Federal

How much money do you make working for the government?

To reduce the budget deficit, the IMF has demanded not to increase salaries, no revised pay scale, and defense spending in the next fiscal year's budget. An adjustment of Rs.1150 billion should be made to reduce the budget deficit from this amount. IMF officials said that if the G20 countries can cut salaries when the economic situation worse from Corona, then why can't Pakistan cut? 

It should be noted that an important meeting will be held in the Prime Minister's House again today on the preparation of Federal Budget 2020-2021 with the finance division. In which Prime Minister Imran Khan will be briefed on budget proposals. The meeting will discuss health budget, increase in salaries of government employees, relief package, government expenditure, budget revenues, increase in foreign exchange, reduction of import duty, and food tax.

On the other hand, sources said that it is difficult to increase tax revenue during the next financial year 2020-2021... As a result, only a modest increase in the salaries and pensions of government employees is possible in the next budget with no revision in the basic pay scale. 


Similarly, government spending will be kept to a minimum during the next financial year. Similarly, we have had three budget meetings, one of which proposes a 10 percent increase in the salaries of government employees, considering one in five percent. Economic hardships caused by CoVID-19

Comments

Popular posts from this blog

Provincial capital on massive hit by Covid-19; Government made big decision

Lahore's biggest Cattle market will be set up in LDA city

Corona Virus V/S World Lock-down