Pakistan is currently facing an unprecedented economic crisis. Inflation is skyrocketing. Imported goods are stuck at ports. Less than US$ 3 billion is left in the country's foreign exchange reserves. Meanwhile, Prime Minister Shehbaz Sharif has issued instructions to the Ministry of Foreign Affairs to reduce the number of its missions, offices, and staff abroad and take steps to cut spending by 15 percent. Local media gave this information.
NAC recommended steps to cut
According to the report of a leading newspaper in the country, the instructions were issued by the Prime Minister's Office (PMO) on Tuesday with the title 'Rationalization of Foreign Missions Abroad'. In this, it has been said to make a well-thought-out proposal or plan in this matter within two weeks. The National Austerity Committee (NAC) has recommended steps to cut down on missions abroad. The committee was constituted by Prime Minister Sharif to suggest austerity measures for the country in the wake of the current financial crisis.
There will be a 15 percent reduction in the expenditure on missions
The committee has also recommended that the expenditure on Pakistani missions abroad be cut by 15 percent. The NAC has also recommended measures to reduce the number of officers and staff posted in foreign missions. As of 10 February, the Central Bank of Pakistan (SBP) had only US$3.2 billion in reserves, enough to cover only three weeks of imports. Pakistan has a chronic balance of payments problem that escalated last year when the country's foreign exchange reserves fell to critical levels.
Government imposes restrictions on the withdrawal of dollars
Nine rounds of the meeting have already taken place between the Shahbaz government and the International Monetary Fund. But no agreement has been reached on the bailout package. This is considered necessary to prevent the country from defaulting. To prevent the withdrawal of dollars, the government has imposed restrictions. Only essential food items and medicines are allowed to be imported. The federal government is set to implement its austerity measures to reduce government spending by increasing taxes on the public.
Gangster Lawrence was scared to see four agencies together: Said- how can I kill someone from jail; Lawyer raised questions on security
Gangster Lawrence Vishnoi was confronted by officials of four different agencies on Wednesday. According to the sources, Lawrence, a dreaded criminal who had killed many people, got scared seeing all
Atiq Ashraf: Atiq's connection with ISI! Mafia repeatedly took the name of Guddu Muslim, Ashraf also wanted to say something
After the murder of mafia Atiq Ahmed and Ashraf, new revelations are happening. Another new sensational revelation has come to light. Atiq Ahmed's special shooter and secret agent Guddu Muslim handles
Weather Update Today: Sunny day in Delhi and cold feeling in the evening, and possibility of heavy rain in these two states; Read the latest update
Weather Update Today: While there is bright sunshine in many places including Delhi and Uttar Pradesh, there has been heavy rain in Tamil Nadu and Kerala. The Meteorological Department has predicted
Umesh Pal: The bloody planning of the Umesh Pal murder case was made in the Muslim hostel room, the lawyer turned out to be the mastermind
The planning of the Umesh Pal bloody murder case that took place three days back in Prayagraj was done in the room of a young lawyer of the Allahabad High Court. This lawyer has been arrested by the
World Cup: Kohli became India's most successful player in this matter, leaving Sachin behind, only Ponting-Jaywardene ahead of him.
India achieved a big victory of 302 runs over Sri Lanka in the 33rd match of the World Cup 2023. By winning this match, Virat Kohli broke the big record of Sachin Tendulkar. Virat has now become
Covid-19: Are lockdown like situations happening again? Increasing cases of FLiRT variant scare, be careful
Cases of coronavirus infection are being seen increasing once again in many countries. There has been a huge surge in infection cases in many
Akshay Kumar: Akshay Kumar got angry at being called 'Modi devotee', and said - I have made films even during the Congress era.
Akshay Kumar is in the headlines these days for his latest release film 'Mission Raniganj'. The film seems to be ineffective in doing wonders at the box office. In this episode, the actor has once
JEE Main 2023 Session 2: NTA alerts on fake video of JEE Mains April session admit card and exam city
JEE Main 2023 Session 2: JEE Mains April session is to be held in April next month. This exam is going to start on 06 April 2023. At the same time, the admit card and exam city slip will be released
IB71 Movie Review: Vidyut's new film brought an anonymous lesson of patriotism, together with Sankalp Reddy's decorated Chaucer
In the year 1971, the then Prime Minister of India, Indira Gandhi declared war on the common people of East Pakistan (Bangladesh) to get freedom from Pakistani rule. At that time it was happening for
IND vs ENG: Will Jaiswal get a chance in the semi-finals? India has a chance to take revenge on England, know the playing 11
The T20 World Cup 2024, being co-hosted by West Indies and USA, is now moving towards its peak. The Super-8 matches are over and now the semi-final matches will be played on 27 June. The first match
