150,000 vacant posts, ministry to be axed in govt’s cost-cutting push

Finance Minister Muhammad Aurangzeb announced that the government will be eliminating 150,000 vacant positions, dissolving one ministry, and merging two others as part of reforms agreed upon with the IMF. The IMF Executive Board approved a $7 billion loan agreement, with the SBP receiving $1.03 billion as the first installment. The rightsizing committee has decided to scrap 60% of vacant seats to reduce expenditures. The government is also focusing on expanding the tax net, hiring 2,000 chartered accountants to boost FBR efficiency, and appointing tax audit experts. These measures are aimed at bringing economic stability and reducing public sector size and expenses.