look news india
Pakistan cuts 1.5 lakh jobs: Cash-strapped Pakistan has announced the closure of six ministries and merger of two others as well as elimination of 1,50,000 government posts to cut administrative costs. Pakistan's new announcements are part of a $7 billion loan agreement with the IMF.
Pakistan was stuck in economic crisis
The International Monetary Fund announced the first tranche of loan sanctioned to Pakistan on 26 September. Under this, a package of 1 billion dollars has been announced. Along with this, IMF has ordered the Pakistan government to reduce its expenditure, increase taxes and impose taxes on sectors like agriculture and real estate. Apart from this, subsidies should be ended and some schemes should also be limited.
1.5 lakh government jobs will be lost
Pakistan Finance Minister Mohammad Aurangzeb, who returned from America, said, 'An agreement has been reached with the IMF. This will be our last deal. Under this, we are also reducing government expenditure by implementing some policies. Six ministries will be closed and two will be merged. Apart from this, 1.5 lakh government jobs in various ministries will be lost.
To become a part of G-20, the economy will have to be strengthened.
In this matter, the Finance Minister of Pakistan further said, 'We will also try to increase taxes. Last year, 3 lakh additional taxpayers joined. Also, more than 7 lakh new taxpayers have joined so far this year. Tax rules will be tightened. People who do not pay taxes will not be allowed to buy property and vehicles. If Pakistan has to become a part of G-20 then we will have to strengthen the economy. Now our exports are also increasing.