Pakistan cuts 150K jobs, dissolves six ministries as part of IMF deal ...Middle East

Business Standard - Economy
Pakistan cuts 150K jobs, dissolves six ministries as part of IMF deal
source : Business Standard ( Middle East ) () 113
In an effort to minimise administrative expenditures, cash-strapped Pakistan on Sunday announced to abolish about 150,000 government posts, close six ministries, and merge two others, as part of reforms agreed upon with the IMF under USD 7 billion loan deal. The International Monetary Fund on September 26 finally gave a nod to the assistance package and also released over USD 1 billion as the first tranche after Pakistan committed to cut expenditures, increase tax-to GDP ratio, tax non-traditional sectors like agriculture and real estate, limit subsidies and transfer some fiscal responsibilities to provinces. Addressing the media on his return from the US, Minister for Finance Muhammad Auran

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