Good News for the government employees
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In a recent development, the federal government of Pakistan has significantly increased the salaries of government employees. The pay raise affects various categories of employees.
Firstly, the minimum salary for MP-1 2017 employees has been substantially raised to Rs 532,000, with an increment of Rs 33,000. Simultaneously, MP-1 2023 employees will now receive a higher salary of Rs 772,000, an increase of Rs 47,850.
Similarly, the salaries of MP-2 employees from 2017 have seen a boost of Rs 27,225, reaching a new level of Rs 290,000, whereas MP-2 2023 employees will now earn Rs 421,000.
In addition, the pay scales for MP-3 officers of 2017 have been increased to Rs 181,500, while MP-3 officers in 2023 will see their salaries rise to Rs 263,000. This adjustment is set to take effect from October 1, 2023.
In another development, on October 3, the federal cabinet approved an allocation of Rs 620 million to cover the salaries of Pakistan Steel Mills (PSM) employees. This fund will support the payment of salaries for the first six months of the current fiscal year, with Rs 620 million sourced from the Rs 10 billion fund designated for Pakistan Steel Mills.
It's worth noting that Pakistan Steel Mills currently employs over 3,100 individuals, while 5,679 employees have been let go from their positions.
This news comes against the backdrop of Pakistan's headline inflation, which registered at 26.9% on a year-on-year basis in October. According to data from the Pakistan Bureau of Statistics (PBS), the average inflation for July-October stands at 28.48%, compared to 25.48% for the same period in the previous year.
