ISLAMABAD :Ahead of tabling the budget for the fiscal year 2023-24 in the National Assembly (NA), the federal cabinet approved finance bill for the year at a meeting held at the Prime Minister House on Friday. Prime Minister Shehbaz Sharif presided over the meeting which fixed the minimum wages at Rs32,000. Moreover, the salaries of employees of Grade1-16 have been increased by 35pc and Grade 17-22 as much as 30 per cent. Offering relief to the retired government servants, the cabinet announced 17.5pc increase in pensions.

The meeting also approved Rs1,150 billion for development, Rs491.3 billion for infrastructure, Rs86.4 billion for energy, Rs263.6 billion for transport and communication, and Rs41.5 billion for physical planning and construction. Moreover, the cabinet approved Rs99.8 billion for irrigation department, Rs241.2 billion for societal development, Rs22.8 billion for health, Rs90 billion for sustainable development, Rs60.9 billion for AJK and GB, Rs57 billion for tribal areas merged into KP, and Rs33.7 billion for science and technology.