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1,50,000 jobs cuts in Pakistan: Here's why India's neighbour abolishing 60% of vacant positions

The Pakistani government has decided to abolish approximately 1.5 lakh (150,000) vacant government positions as part of a broader austerity measure aimed at reducing public expenditure. This decision, which affects 60% of all unfilled posts, was announced by Pakistan's Finance Minister, Muhammad Aurangzeb, in response to the country's dire economic situation, characterized by high inflation, a depreciating currency, and dwindling foreign reserves. The move is intended to streamline government operations, reduce the fiscal deficit, and comply with the conditions set by the International Monetary Fund (IMF) for a bailout package. Critics argue that this could lead to increased unemployment and further economic strain on the populace, while supporters believe it's a necessary step towards economic recovery and fiscal responsibility.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/politics/government/1-50-000-jobs-cuts-in-pakistan-here-s-why-india-s-neighbour-abolishing-60-of-vacant-positions/ar-AA1x74tD ]