Salary hike for govt employees in the cards

In response to high inflation caused by rising prices of essential commodities in the country, the government employees may get a salary boost in the next fiscal year.

Yearly increment of govt employees may be raised from 5 per cent to 8-10 per cent, sources at the finance ministry said.

Finance Minister AHM Mustafa Kamal is likely to make an announcement in this regard when he will unveil the national budget for the fiscal year 2023-24 in parliament on June 1, sources added.

At present, the salary increment rate of government employees is 5 per cent of their basic salary. However, the country's point-to-point inflation rate has exceeded 9 per cent. Taking this into consideration, the government is mulling a hike in the increment rate, the sources said.

The process and rate of increment hike will be decided after the budget has been presented. A gazette notification confirming it may be issued in August or September. However, the increment rate hike will be effective from July no matter when the gazette is issued.