Karachi: Prime Minister Shehbaz Sharif imposed strict restrictions on ministers as part of cost-cutting measures in debt-ridden Pakistan. Henceforth, the Prime Minister directed that ministers should not travel in business class flights or stay in five star hotels in foreign countries. Strict restrictions have been imposed in Pakistan, including cuts in the salaries of ministers.
Pakistan’s debt is $746 million. Apart from that, $6.5 billion has been requested from the International Monetary Fund to bail out of the financial crisis. Shehbaz Sharif also said that radical changes will be brought in the budget coming in July to overcome the financial crisis.
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Pakistan, which has the fifth largest population in the world, has been going through a severe economic crisis for the past few months. In the general sector, the price increase has also intensified. Fuel prices hit record highs. Sharif also says that ministers and high-ranking government officials have voluntarily given up their salaries due to the hardship of the people. The government may impose a ban on the purchase of luxury goods and cars till next year. Parliament also decided to impose more taxes on imported luxury goods.
Last Updated Feb 24, 2023, 7:29 PM IST
