Pakistan Revenue
Islamabad – Finance Minister Muhammad Aurangzeb on Monday categorically stated that the federal government has no plans to increase salaries and pensions of government employees in the upcoming fiscal year.
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The government of Pakistan has introduced procedure for pension calculations, implementing new conditions and limitations that will impact retirees and future pensioners.
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Karachi, February 5, 2025 – Pensioners in Pakistan have benefitted from a tax exemption amounting to Rs 43.61 billion on their income within a year, according to official documents.
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The Finance Division has issued an official clarification regarding the eligibility criteria for family pensions, specifically addressing concerns about pensions for children and other family members.
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Pakistan has introduced a comprehensive set of pension reforms aimed at reducing the growing burden of pension liabilities on public finances. These reforms, announced by Adviser to the Finance Minister Khurram Schehzad via a post on X (formerly Twitter) on Saturday, are set to take effect from January 1, 2025. The initiative seeks to ensure […]
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Islamabad, January 2, 2025 – Pakistan has introduced sweeping reforms to pension rules, effectively restricting individuals from drawing multiple pensions simultaneously. This move, outlined in a notification issued by the Pakistan Finance Division, is based on the recommendations of the Pay and Pension Commission 2020 and aims to streamline pension disbursements and curb inefficiencies in […]
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Karachi, September 15, 2024 – The Sindh Cabinet has approved the implementation of the Sindh Defined Contributory Pension Scheme 2024, set to take effect from July 1, 2024. Under this scheme, both the government and employees will contribute towards the pension fund, with the government contributing 12% and employees contributing 10% of their salaries.
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Karachi (PkRevenue.com) – In a strategic move to bolster its revenue, Pakistan is poised to introduce a pension tax in the upcoming 2024-25 budget.
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Islamabad, May 7, 2024 – Minister for Law and Justice Azam Nazeer Tarar announced on Tuesday that the government is poised to introduce comprehensive pension reforms.
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Karachi, March 20, 2024 – The National Bank of Pakistan (NBP) faced a setback as it lost a crucial petition filed in court regarding pension dues. The court ruling mandates NBP to disburse pensions to 11,500 retired employees, allocating Rs 60 billion for this purpose within a month.
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