Islamabad, June 15: Gearing up for a new bailout package from the International Monetary Fund, Pakistan Prime Minister Shehbaz Sharif has vowed to abolish all institutions, ministries and departments that have become a burden on the national exchequer.
In his nationally televised address, Sharif said the move will help in avoiding all needless expense.
Sharif also pledged to rid the country of the International Monetary Fund (IMF), saying that the next deal for a bailout package with the global lender will be the last in the country’s history.
“The current IMF programme will be the last in Pakistan’s history,” he vowed while addressing the nation on Saturday.
Shehbaz’s address was the first since the launch of the federal budget for fiscal year 2024-25.
The government is currently in talks with the Fund for a loan estimated to be anything between $6 billion to $8 billion, as Pakistan strives to secure a loan programme to avert a default for a slow-paced economy.
“Based on my personal and political experience, there is no progress and success without going through hardships. Therefore, sacrifices must be made to guarantee prosperity. By taking these actions, we will raise Pakistanis to the level of the rest of the world.”
In his speech marking the 100th day of his government, Sharif said it was the prime obligation of the government to end all the luxurious expenses and such institutions that didn’t have anything to do with public service, asserting this move alone would save taxpayers’ billions and foster prosperity.
“It is the prime obligation of the government to end all the extravagant expenses and shut down institutions that are not serving the public in any way.
“One such department is Public Works Department (PWD). It is known as the “most notorious” one in terms of corruption,” he added.
Shehbaz Sharif slammed the PWD’s perks and privileges, including salaries, which he claimed amounted to no less than Rs2 billion annually.
“The funds this department receives from various ministries and departments for developmental works could total several hundred billion rupees.”
But as the country’s economy has just barely begun to be stabilised and registered a mildly positive growth, Pakistan remains cash-strapped and neck-deep in debt with very little foreign reserves while also witnessing a massive uptick in terrorism and political instability. In these circumstances, it is to be seen if any of the promises of the Pakistani premier will ever be fulfilled.
