ProPropertyNewsNAC’s Solutions to Tackle Public Debt: Land Reclamation, Salary Cuts, and Cost-Saving Measures

NAC’s Solutions to Tackle Public Debt: Land Reclamation, Salary Cuts, and Cost-Saving Measures

ISLAMABAD: The National Austerity Committee (NAC) has proposed that plots currently held by individuals in positions of power and influence, including civil and military bureaucrats, judges, and others, be reclaimed and auctioned off to address the country’s growing public debt.

NAC has also proposed a series of measures which include reducing salaries and perks for parliamentarians by 15%, reducing government employee salaries by 10% until June 2024, installing pre-paid meters in the gas and electricity sectors, and implementing an e-procurement system at all levels of government.

The NAC also proposed a ban on foreign visits and recommended that the size of the federal cabinet be limited to 30 members.

ALSO READ  Turkey, Pakistan Strengthen Ties with Collaboration on RDA Projects

Additionally, the NAC suggested that discretionary schemes for parliamentarians be abolished and that federal and provincial lawmakers sacrifice 15% of their salaries and perks.

The committee also proposed a 15% reduction in the recurrent budget for all ministries and divisions for one year until June 2024, and implementation of Pension Reforms before the next budget 2023-24.

The NAC also recommended a complete ban on the creation of new administrative units in all tiers of government, with a mandatory shift to daylight savings time, and drastic reductions in entitlements.

The committee is currently finalizing the report and it will be submitted to the Prime Minister for approval.

 

Leave a Reply

Your email address will not be published. Required fields are marked *