Connect with us

Hi, what are you looking for?

Economy

NAC asks govt to reduce ministers, advisors, pay & perks of employees

ISLAMABAD: The National Austerity Committee (NAC) has firmed up proposals involving downsizing of ministers, advisors and cut in the pay and perks of the government employees.

Prime Minister Shehbaz Sharif constituted the committee to initiate austerity measures to reduce expenditures.

The NAC is going to recommend to government to reduce by 15 percent expenditures of ministries/divisions, slash the number of federal ministers, ministers of state, and advisers to 30 from existing 78.

On Wednesday (Jan 25), the committee will present its recommendations to the Prime Minister, Geo News reported today. 

The recommendations of the NAC are part of the government’s measures to secure IMF loan’s approval.

From this Monday, the government and IMF officials have started virtual talks on the ninth review and its related measures.

On Tuesday, Prime Minister Shehbaz Sharif clearly stated that the government was ready to sacrifice its political capital (vote-bank) to obtain IMF loan. Premier has termed the resumption of IMF loan essential for the economic revival and stability in the country.

The government believe that the resumption of IMF loan would open doors for financial lending by the friendly countries and other multi-lateral donors.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

International

The United States needs one million additional electrician workers to meet its environmental objectives, and the shortage of male electricians has highlighted the importance of...

Latest Updates

QUETTA/ISLAMABAD: A female teacher ended her life by committing suicide and got rid of the consistent harassment she was facing from the Levies security...

Health & Education

Students who intend to pursue their studies in Germany may now apply for scholarships, according to a joint announcement from the Higher Education Commission...

Latest Updates

WhatsApp, the well-known instant messaging service owned by Meta, has launched two eagerly awaited innovations exclusively for Android beta users. This shows WhatsApp’s continuous...