BUSINESS/FINANCE
KP Government Follows Federal Pattern to Increase Salaries and Pensions
The Khyber Pakhtunkhwa (KP) government has announced a substantial increase in salaries and pensions for its employees to address the challenges posed by rising inflation. This decision was made following the recent budget presentation and aligns with the federal government’s guidelines.
Employees up to grade 16 will see their salaries increase by 25%, while those above grade 17 will receive a 20% increase. Additionally, pensions will be raised by 10%. KP Finance Adviser Muzamil Aslam explained in a video statement that the federal government had previously announced similar increases: 25% for employees in grades 1 to 16, 20% for those above grade 17, and a 15% rise in pensions. The KP cabinet has approved these adjustments to follow the federal pattern.
Aslam also mentioned that the official declaration of the salary increase will be issued soon. He acknowledged that this adjustment would place an additional financial burden of 75 to 80 billion rupees on the provincial treasury.