Business
Finance Minister stresses for fast track implementation of austerity measures
The Secretary Finance has given a presentation on the decisions and their implementation status.
Islamabad: Finance Minister Ishaq Dar chaired the first meeting of monitoring Committee to oversee the implementation of austerity measures in Islamabad on Monday.
The meeting reviewed the implementation of the decisions of the Cabinet on austerity measures.
The Secretary Finance gave a presentation on the decisions and their implementation status. It was informed that Ministries are already working on these measures and instructions have been issued for immediate compliance and reporting of any exemption and violation of these decisions.
The Committee directed all Principal Accounting Officers to implement 15 percent cut in their current budgets. It was decided that use of Tele-conferences must be encouraged for all meetings to save time and expenditure.
The Committee conveyed that decision to withdraw use of luxury vehicles by the Cabinet members and Government officials be implemented with no exemption in any case.
The Finance Minister highlighting the challenging economic situation in the country stressed all the concerned to ensure and expedite the implementation of austerity measures with sincerity and devotion in their ranks without any exception.