Job Cuts, No Development Schemes, No New Universities; Pakistan Promises IMF

The federal government has shared a plan with the International Monetary Fund (IMF) to reduce federal expenses by Rs. 300 billion, well-informed sources told ProPakistani.

This plan involves several key measures aimed at cutting costs and streamlining operations. Sources said one step involves eliminating vacant positions in grades 1-16 over the next year. Additionally, the government will restrict the purchase of new vehicles for federal ministries.

Sources said the federal government will no longer provide funds for provincial development schemes and instead allocate funds to essential and national projects. Infrastructure projects will increasingly rely on private partnerships. This will reduce the burden on federal resources, sources added.

The center will not fund new university projects next year while provincial governments will be responsible for funding institutes with their own money.

Sources said a voluntary pension scheme for new recruits was on the cards, excluding armed forces and police, next fiscal year. This would help fulfill another IMF agenda to streamline the government’s outdated pension system.

A total ban on funding for development schemes by members of parliament next fiscal year, sources added.



Get Alerts

Follow ProPakistani to get latest news and updates.


ProPakistani Community

Join the groups below to get latest news and updates.



>