Pakistan budget Ishaq Dar targets growth |
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The Pakistan government has made several significant announcements to improve the financial well-being and welfare of various sectors. For retired federal government employees, a 17.5% increase in pensions will be implemented from July 1, 2023, to combat inflation and ensure a comfortable standard of living. Ad-hoc relief allowances will also increase for federal government employees, with other allowances rising by 50%. Additionally, the government has imposed a 10% tax on bonus shares issued by listed companies and re-imposed withholding tax on cash withdrawals by non-filers. Furthermore, health insurance cards will be provided to journalists and artists, and incentives have been introduced to boost the IT services, freelancing, and agriculture sectors. |
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