Collective efforts could help Pakistan get rid of economic challenges: PM Shehbaz

Islamabad: (Staff Reporter) Prime Minister (PM) Shehbaz Sharif stressed that collective efforts could help Pakistan get rid of the economic challenging phase.

According to the Twitter, he said the austerity measures that begin with the cabinet members voluntarily surrendering their pays, perks and privileges will save the exchequer an amount of Rs.200 billion annually. The premier said he will personally supervise the implementation of the austerity measures.

As per details he also expressed his gratitude to all the coalition partners for their support. “Amid economic difficulties, the expression of solidarity & sharing the burden is the governing spirit of austerity measures of our government. It is leadership by personal example,” reads the tweet.

Meanwhile on Wednesday, the PM unveiled austerity measures amid economic crunch and said the government was trying to save the public from scorching inflation. Addressing a press conference, he said the ministers, state ministers and special advisers to the premier had decided to forego their salaries and perks. He said all ministers had also decided to pay their own utility bills.

Furthermore Pakistan is facing an economic crunch and has been negotiating with the International Monetary Fund (IMF) for the next tranche of $1.1 billion. The international lender has set very tough conditions and demanded that Pakistan boosts its tax base, end exemptions for the export sector and raise energy prices. PM said, “All luxury cars being used by cabinet members are being called back and will be auctioned.” “Where needed, only one car will be provided for security.”

Moreover PM Shehbaz Sharif said the deal with the IMF would be locked soon, adding that the “matters would be settled in a few days” but it would cause further inflation. He said Pakistan had fulfilled almost all of the IMF’s conditions.

As per details the premier also announced that only one car would be provided for security purposes where necessary and federal ministers would also travel in economy class when going abroad on state visits.

He added that the government had passed a mini-budget under which new taxes would be levied on big corporations, adding that these measures would protect the common man from inflation to some extent.