The government is to introduce structural reforms in federal budget 2023-24, which will also include some additional measures, especially pension reforms, subsidies/ grants and reduction in losses of State Owned Entities (SOEs). Finance Minister Ishaq Dar shared this information during a recent meeting of the Federal Cabinet when proposed austerity measures came under consideration.
The Cabinet was informed that work had been initiated on the Single Treasury Account by Finance Division, and shall be implemented immediately.
During the discussion majority of the Members endorsed the proposed austerity measures, while some expressed various concerns. It was pointed out that only some of the ministers had no other source of earnings and relied solely on their salaries.