A National Austerity Committee has been established by Prime Minister Shehbaz Sharif in order to implement austerity measures and ensure the prudent use of public funds while also reducing spending to address the fiscal deficit.
Due to the nation’s financial difficulties, a committee was established. The premier will receive the committee’s recommendations within 15 days.
The 15-member committee will be led by former civil servant Nasir Mahmood Khosa, with co-chairman Minister of State for Finance. Any individual from the public or private sector may be coopted by the Committee if necessary.
The Terms of Reference (TORs) of the committee include:
To reduce public expenditure and ensure fiscal discipline.
To take measures to economize government operations.
To review and rationalize the size of the government to achieve optimal and smart organizational structures including review of SOEs and corporations having redundant or overlapping functions.
To invite proposals from Ministries/Divisions regarding austerity measures including curtailment of expenditure.
Any other issue that is relevant or incidental to the achievement of austerity in government operations.
