Salaries cut, \u2018unnecessary\u2019 trips prohibited
\n Islamabad
\nPrime Minister Shehbaz Sharif Wednesday unveiled a host of austerity measures to save Rs200 billion \u2014 aimed to keep the country afloat as the nation buckles up to meet the International Monetary Fund\u2019s (IMF) conditions.
\nPakistan is desperate to unlock the next tranche worth $1.1 billion loan facility with the IMF but is struggling to meet tough conditions set by the global financier.
\nThe IMF is demanding that Pakistan boosts its pitifully low tax base, end exemptions for the export sector, and raise artificially low energy prices that are meant to help poor families.
\nThe nation is in dire need of funds as it battles a wrenching economic crisis as the State Bank of Pakistan (SBP)-held foreign exchange reserves barely cover one month of imports.
\nAddressing a press conference flanked by the senior leadership of the Pakistan Democratic Movement (PDM), the premier announced that the ministers and advisers to the premier have \u201cvoluntarily\u201d decided not to take salaries from the government in order to save millions from the national exchequer.
\nThe prime minister said that austerity measures were a priority for the coalition government, and the ongoing situation also demands the nation as a whole cut down their expenses and move towards a simple lifestyle.
\nHe appealed to Chief Justice of Pakistan Umar Ata Bandial, chief justices of all high courts, the lower courts, and the chief ministers of all four provinces to the federal government\u2019s measures.
\nThe prime minister said that it was crucial for the leaders to adopt the austerity measures as the country is facing an uphill task on the economic front.
\nInflation and \u2018mini-budget\u2019
\nPremier\u2019s press conference comes, two days after the National Assembly unanimously approved the government\u2019s much-needed Rs170 billion \u2018mini-budget\u2019 \u2014 a move mandatory for seeking a $1.1 billion tranche of the IMF loan.
\nThe prime minister said that the government passed the \u2018mini-budget\u2019 to meet the IMF\u2019s preconditions, but noted that the inflation was rising due to the Washington-based lender\u2019s demands.
\nPM Shehbaz said that the talks with IMF were in the final phase and the government would soon strike a deal with the lender. \u201cUnfortunately, as the subsidies have ended, inflation will rise.\u201d
\nThe premier said that the centre would take the country out of the economic crisis with the help of the \u201celders and the nation\u201d.
\nIn response to a question, the premier said that a person \u2014 Pakistan Tehreek-e-Insaf (PTI) Chairman Imran \u2014 would claim that politicians have kept billions of dollars abroad in Swiss accounts.
\n\u201cThis person would say that he will bring that money back. I wish that the person who made these claims, was questioned back when he was in power,\u201d the prime minister said.
\n\u2018Biased judges\u2019
\nIn response to another question, he said that the government respects the superior court, but for how long would it keep its eyes closed when judges are \u201ccompletely biased\u201d.
\nThe prime minister said that Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif was disqualified in a trivial matter, while the court regularised Khan\u2019s 300 canal home.
\n\u201cI, not as the prime minister, but as PML-N\u2019s head, have demanded that biased judges should not hear N-League\u2019s cases,\u201d PM Shehbaz stressed.<\/p>\n","protected":false},"excerpt":{"rendered":"
Salaries cut, \u2018unnecessary\u2019 trips prohibited Islamabad Prime Minister Shehbaz Sharif Wednesday unveiled a host of austerity measures to save Rs200 billion \u2014 aimed to keep the country afloat as the nation buckles up to meet the International Monetary Fund\u2019s (IMF) conditions. Pakistan is desperate to unlock the next tranche worth $1.1 billion loan facility with […]<\/p>\n","protected":false},"author":2,"featured_media":315405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[12255,6250,5822],"class_list":{"0":"post-315378","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-austerity-measures","9":"tag-cabinet-members","10":"tag-pm-shehbaz-sharif"},"yoast_head":"\n