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Pakistan declares Financial Emergency

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As the Shehbaz Sharif government braced for the ‘financial emergency’ with the depreciation of the Pakistani rupee to a new low and the existing economic crisis, Pakistan resorted to desperate cost-cutting measures such as rationing of fuel for the vehicles used by the government officials, restrictions on their travel, scrapping leave encashments, and other benefits such as the medical bill payments and allowances. The country, said its Finance Minister Dar, is on verge of mounting foreign debt of $130 billion and $73 billion in three years and a minimum of $20 to $30 billion deficit.

As the economic turmoil worsened, Pakistan’s government took drastic measures against its employees to slash the costs. Pakistani cabinet Secretariat said in a notification seen by the ANI news agency, “In view of the principal approval by the Prime Minister of Pakistan and present financial calamity of the state and the severe shortage of funds, it has become imperative to issue the following instructions, otherwise further financial catastrophe may lead to a situation of stoppage of salaries in public/autonomous organizations.”

In accordance with new rules, government employees with previous entitlement benefits will no longer be getting 120 liters of fuel per month. A ban would be imposed on bonuses to government employees, as per the new measures. Government employees will now be required to turn in detailed reports on the utilization of funds and an eight-hour workload policy would be implemented for all employees. (


Wednesday, December 28, 2022 – 01:00

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