Under the austerity policy of the government, Finance Minister Ishaq Dar directed an immediate 15% cut in the budget of federal ministries and divisions.
The meeting of the monitoring committee regarding the implementation of austerity measures was chaired by Finance Minister Ishaq Dar. In the meeting, it was also decided to take back the luxury vehicles from the cabinet members and government officials.
It was decided in the meeting that all meetings would be encouraged to be held through tele-conferencing to save time and cost.
A monitoring committee was established to implement the austerity policy
During the briefing regarding the implementation of the decisions of the Cabinet regarding austerity, the Finance Secretary said that no exemptions and violations will be allowed in the implementation of the decisions.
Highlighting the current difficult economic situation of the country, Ishaq Dar urged all concerned institutions to ensure the implementation of austerity measures with sincerity and dedication in their ranks without any exception. As a result of austerity measures, there is a possibility of saving 200 billion rupees annually.