Prime Minister of Pakistan Shehbaz Sharif on Saturday announced the abolition of all loss-making institutions, ministries, and departments to save money of taxpayers.
He said his government is determined to put the cash-strapped country on the road to economic prosperity. The announcement has come after completing 100 days of rule.
The government has laid down a five-year plan and decided to shut down ministries that have been draining the economy for years, Sharif said in a televised address to the nation.
The money saved will be used to repay Pakistan’s debts, he added.
This is Pak PM’s first televised address since he assumed power after the controversial February 8 elections.
On March 4, Sharif took oath after stitching together a coalition with five other parties.
‘Duty to eliminate these corrupt entities’
Pak PM also clarified that it is his “duty to eliminate these corrupt entities” and stated that a committee has been established for this purpose.
Sharif added that his government will work with the private sector. He cautioned that the road ahead is not only “long and difficult” but also “demands sacrifices” from both government personnel and the salaried class but his government is dedicated to making a change in the country.
Sharif claimed that after his government took an oath, inflation declined to 12 per cent from 38 per cent, and interest rates on loans were sliced to 20.5 per cent from the previous 22 per cent.