• Download the Constitution of Pakistan
  • Advertise
Monday, August 11, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Main

Govt unveils austerity plan for country’s economic stability

by News Publishing
February 23, 2023
in Main, Pakistan Politics, Politics
Reading Time: 2 mins read
0
Govt unveils austerity plan for country's economic stability
Share on FacebookShare on TwitterLinkedinWhatsapp

The Prime Minister, Shehbaz Sharif, has announced that the Federal Cabinet will be participating in an austerity plan by voluntarily surrendering their salaries, luxury vehicles, and allowances. This decision, made after a meeting in Islamabad, is expected to save the country 200 billion rupees and bring economic stability.

According to the Prime Minister, all members of the cabinet have agreed to surrender their salaries and perks under this austerity plan. In addition, they will pay for their own electricity, gas, and utility bills, and no luxury cars will be used. The Interior Minister-led committee will decide whether to provide security cars to any high officials.

Furthermore, the Prime Minister has imposed a complete ban on the import of luxury items and vehicles until June of next year. He also stated that no cabinet member or high official will stay in five-star hotels during foreign tours.

Finally, the Prime Minister has announced that all ministries, departments, and divisions will reduce their expenditures by 15 percent as part of the austerity plan.

Shehbaz Sharif has stated that online and video link meetings will be promoted to avoid unnecessary travel expenses. In addition, during the summer season, offices will open at 7:30 am to conserve electricity. Under the new austerity plan, there will be a single-dish limit for weddings and other events.

The Prime Minister has also declared that government houses occupied by retired officers will be vacated and the land will be used to accommodate homeless people. Furthermore, government officials will not be allowed to own more than one plot of land. The Federal Cabinet has agreed to disclose the record of Toshakhana gifts to the public.

In a recent announcement, the Prime Minister confirmed that he will be sending a letter to the President on behalf of the federal cabinet to clarify that the President’s office has no involvement in the announcement of election dates for provinces.

During a question and answer session, the Prime Minister informed the public that Foreign Minister Bilawal Bhutto Zardari pays his own expenses. Additionally, when asked about the size of the federal cabinet, he responded that the coalition partners are currently discussing the matter, and the good news is expected soon.

Tags: Economic stabilityFederal CabinetlatestPM shehbaz sharif
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Pakistan welcomes supplemental award by Court of Arbitration in Indus Waters matter

Pakistan welcomes supplemental award by Court of Arbitration in Indus Waters matter

by News Publishing
June 28, 2025
0

Pakistan has welcomed the Supplemental Award issued by the Court of Arbitration in the ongoing Indus Waters Treaty dispute, affirming...

Next Post
Finance bill to meet IMF conditions sent to President Alvi for assent

Finance bill to meet IMF conditions sent to President Alvi for assent

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters