Federal govt notifies grant of compensatory allowance
Finance Division issued an office memorandum which stated that federal government has granted Disparity Reduction Allowance (DRA-2025) at the rate of 30 percent of the running basic pay as on 30-06-2022 to those offices which are already in receipt of that allowance.
DRA is accounted for the calculations of compensatory allowance to federal government employees who are serving on deputation basis as per terms and conditions prescribed in Finance Division's OMNoF.3(14)R-3/2009-477, dated 29-11-2023, i.e. the amount of DRA will be reduced from the amount of Compensatory Allowance.
It is requested that offices which are in receipt of DRA and they have officers who are drawing Compensatory Allowance on 1st July, 2025, the amount of Compensatory Allowance of those officers may be reduced by the amount of DRA-2025 at the rate of 30 per cent w.e.f. 1st July, 2025.
Ministries/Divisions are requested to circulate these instructions to departments/autonomous/semi-autonomous/corporate bodies etc under their administrative control, for compliance. The copy of this OM is being endorsed to Controller General of Accounts and AGPR for implementation of this decision,' the memorandum noted.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
SECP registers record 4,065 cos in July
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has achieved a historic milestone by registering a record 4,065 companies in July 2025-the highest monthly registrations to date, surpassing the previous record of 3,609 set in May 2025. With 99.9% of incorporations processed digitally, the total number of registered companies in Pakistan now stands at 262,309. The total paid-up capital for July 2025 amounted to Rs. 4.96 million. Private limited companies accounted for 57% of new registrations, followed by single-member companies at 39%. The remaining 4% comprised public unlisted companies, not-for-profit organizations, companies limited by guarantee, and limited liability partnerships. The Information Technology and e-commerce sectors led with 862 new incorporations, followed by trading (530), services (468), and real estate development and construction (398). Other active sectors included tourism and transport (295), food and beverages (203), education (148), marketing and advertisement (98), mining and quarrying (95), textiles (91), pharmaceuticals (86), agricultural farming (74), engineering (64), cosmetics and toiletries (59), and chemicals and healthcare (56). An additional 482 companies were registered across other sectors, including fuel and energy, non-profits under Section 42, auto and allied, power generation, and communications. Foreign investment also showed positive momentum, with 96 newly registered companies receiving capital from international investors across diverse jurisdictions. As part of its efforts to enhance market access and financial inclusion, the SECP issued a total of 60 licenses during the month across multiple regulatory domains, including five in capital markets, one in insurance, two to non-banking financial companies (NBFCs), and fifty-two to not-for-profit associations. Following the recent Registrars Conference, the SECP is launching a comprehensive awareness drive to promote the advantages of incorporation among the business community. These benefits include limited liability, separate legal entity status, enhanced credibility and scalability, perpetual succession, structured governance, tax efficiency, easier access to finance, and stronger brand protection. The SECP remains committed to strengthening its digital infrastructure and streamlining regulatory processes to promote entrepreneurship, attract investment, and support sustainable economic development. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
Cabinet appoints Shoaib as SLIC CEO for another 3 years
KARACHI: Shoaib Javed Hussain has been appointed as the Chief Executive Officer of State Life Insurance Corporation of Pakistan (SLIC), for further 3 years effective August 6, 2025. The Federal Cabinet, on the recommendation of the Ministry of Commerce, has appointed Shoaib as the CEO of SLIC. Previously, he took charge of CEO in March 2021. The corporation has undergone a significant transformation, marked by innovation and significant growth, since Hussain took charge in March 2021. In just four years, SLIC has grown its market share, recording an extraordinary 300 percent increase in profit, a 181 percent surge in revenue growth, and a 100 percent increase in profit allocated to policyholders. Growth has been driven by accelerated digital transformation, the launch of innovative products, and enhancements in service delivery. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
Pakistan Mart Project to connect local products with global markets: DG NLC
LAHORE: The Pakistan Mart project is a revolutionary initiative that will serve as a modern and comprehensive platform to connect Pakistani products with global markets. These views were expressed by Major General Farrukh Shehzad, Director General of the National Logistics Cell (NLC), during a presentation at the Lahore Chamber of Commerce & Industry. President of the Lahore Chamber Mian Abuzar Shad, Vice President Shahid Nazir Chaudhry, CEO of DP World Dubai Abdullah Hashmi, Fakhar e Alam, LCCI Executive Committee Members Karamat Ali Awan and Imran Saleemi also spoke on the occasion. DG NLC said that Pakistan Mart will prove to be a game-changer as it would boost Pakistani exports, ensure direct access to international markets and enhance the global identity of the 'Made in Pakistan' brand. He added that the state-of-the-art facility will be located in the heart of Dubai's commercial hub and offer easy access to key regions including the Middle East, Africa, South America and beyond, enable exporters to connect directly with buyers and eliminating middlemen. Major General Farrukh Shehzad said that the project is being jointly executed by NLC and DP World, leveraging their combined strengths to deliver a high-impact outcome. LCCI President said that such initiatives are the need of the hour to provide Pakistani industrialists and exporters with world-class facilities. He said that Pakistan Mart could serve as a global launching pad for Pakistan's small and medium enterprises. He hoped that the project would not only strengthen Pakistan's economy but also significantly promote the country's positive image on the international stage. LCCI Vice President Shahid Chaudhry said that the Lahore Chamber of Commerce and Industry, in collaboration with NLC, is ready to organize informational sessions on the Pakistan Mart project to raise awareness among its members and guide them on how to benefit from this opportunity. Copyright Business Recorder, 2025
