National Austerity Committee proposes measures to reduce government spending

February 22, 2023 (MLN): Amidst the ongoing economic crisis, the National Austerity Committee on Wednesday proposed several measures to reduce government expenditures in Pakistan.

The committee suggested cutting down the subsidy amount by arms by Rs 200 billion, development expenditure by Rs 200 billion, and running the civil government by Rs55bn. Additionally, the committee recommended implementing a Single Treasury Account which could save Rs60bn-70bn, and initiating energy conversion measures which could save Rs100bn.

Furthermore, the committee also suggested privatizing non-strategic enterprises which could result in a saving of Rs174bn. These measures are aimed at reducing the government's expenditures and promoting fiscal discipline in the country.

Experts believe that the measures are necessary to control the country's rising debt and stabilize the economy. 

The government has yet to make a final decision on whether to implement the proposed measures, and it remains to be seen how these potential changes will affect the country's overall economic situation.

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