A 20pc increment has also been approved for the salaries of Grade 17-22 employees, sources said. A 15% hike in the pensions of retired employees has also been approved, they added.

Also read: FinMin presents federal budget 2024-25 amid OPP’s loud slogans

Earlier, the federal cabinet approved the budgetary proposals for the coming fiscal year 2024-25.

The special cabinet committee presided over by Prime Minister Shehbaz Sharif deliberated on the budget proposals and accorded its approval to the Finance Bill 2024.

It also approved the budgetary proposals to be presented before the National Assembly for its onward consideration.

Finance Minister Muhammad Aurangzeb is unveiling the much-awaited Rs18.5 trillion budget for fiscal year 2024-25 today as it aims to secure the new International Monetary Fund (IMF) bailout, according to a The News report.