ISLAMABAD: Prime Minister Shehbaz Sharif on Friday gave assent to the whopping salary raise for members of the Parliament.
The decision follows the recommendations made by the Finance Committee, and the new salaries will come into effect from January. Under the new arrangement, each member of Parliament will receive a monthly salary of Rs519,000.
However, it is important to note that the salaries of the Speaker and Deputy Speaker of the National Assembly have not been increased.
Both the speaker and the deputy speaker will continue to receive their current monthly salary of Rs218,000.
In response to queries, the speaker’s office clarified that the Finance Committee does not have the authority to increase the salaries of the speaker and the deputy speaker.
Last week, the National Assembly speaker forwarded the finance committee’s recommendations for a salary increase to Prime Minister Shehbaz Sharif.
Prior to this, the federal government had announced an increase in the salaries and housing allowances for high court judges in November last year. The house rent allowance was raised from Rs65,000 to Rs350,000, while the superior judicial allowance has increased from Rs342,431 to Rs1,090,000. With these adjustments, the total salary for a high court judge is expected to exceed Rs2 million on November 26, 2024.
The Sindh government announced wage increases for workers in the industrial sector, with a rise of 15.62% on October 22, 2024.
Last year, the government imposed a higher income tax rate of up to 35% in the budget 2024-25. The new income tax slabs for the salaried class were effective for salaries above Rs600,000.
