Sunday June 16, 2024

Budget 2023-24: What are relief measures taken by govt?

Govt increases in BISP allocation from Rs400 billion to Rs450 billion in one of relief measures

By Web Desk
June 09, 2023
Picture shows people buying vegetables. — AFP/File
Picture shows people buying vegetables. — AFP/File 

Finance Minister Ishaq Dar on Friday unveiled a Rs14.46 trillion budget for the fiscal year 2023-24 with "no new taxes" and aiming to grow at a cautious rate of 3.5%. 

However, the federal government also took some relief measures in the budget as the nation suffers from back-breaking inflation. 

Here are the relief measures

  • Increase in BISP allocation from Rs400 billion to Rs450 billion
  • Targeted subsidy on wheat flour, ghee, pulses, rice through USC
  • Increase in salaries of civil servants in the form of Ad-hoc Relief Allowance
  • Increase in rates of following allowances
  1. Daily and mileage allowance
  2. Additional charge current charge allowance
  3. Orderly allowance
  4. Special conveyance allowance for disabled
  • Increase in pension and increase in minimum pension to Rs12,000
  • Minimum wage increase from Rs25,000 to Rs30,000 in ICT Loan write-off scheme for widows
  • Health insurance card for working journalists and artists

Prime minister's initiatives — Planning Development and Special Initiatives (PSDP)

Areas of interventions 
Allocation in Rs billions 
PM initiative for solar tubewells
Rs30 billion
PM youth program for small loans 
Rs10 billion
Pakistan endowment fund for education 
Rs5 billion
PM initiative for IT startups and venture capital 
Rs5 billion
PM initiatives for women empowerment
Rs5 billion
PM laptop scheme 
Rs10 billion
PM green revolution 
Rs5 billion
PM youth skill development 
Rs5 billion
Other initiatives (sports and hepatitis C control program)  
Rs5 billion
Rs80 billion

Salaries of govt employees

The federal cabinet increased the salaries of government employees up to 35%.

  • Pension — 17.5% to Rs12,000
  • EOBI pension — Rs10,000
  • Increase in salaries for employees of grades 1-16 — 35%
  • Above 17 — 30%
  • Minimum wage set to Rs32,000
  • Increase in medical and conveyance allowances — 100%
  • Increase in ad hoc allowances — 10%
  • Debts of widows to be paid up to Rs1 million
  • Deposit limit in national savings accounts for martyrs — Rs7.5 million
  • Limit for Behbud Savings Certificate — Rs7.5 million
  • Targeted subsidy programme to provide daily-use items — Rs25 billion