''One and a half million government employees lay off, lock six mantras! Pakistan is on its knees 'begging' for more loans''

 ''One and a half million government employees lay off, lock six mantras! Pakistan is on its knees 'begging' for more loans''

Islamabad sacked 150,000 government employees to get loans from the IMF. Also, Pakistan has decided to close six ministries. Funds are running out. Foreign currency reserves are also at the bottom. As a result, the financial crisis is increasing in Pakistan as the days go by. In this situation, the Shahbaz Sharif government lost the jobs of one and a half lakh government employees. International relations experts believe that this could lead to public protests in the western neighboring country. Along with canceling the jobs of one and a half million government employees, Islamabad has decided to completely close six ministries. On September 29, which was announced by Pakistan Finance Minister Mohammad Aurangzeb. 

    Pakistan Finance Minister Mohammad Aurangzeb.

He said that most of the workers of the ministries that are being closed have been kept in the layoff list. Apart from this, the government of Pakistan has also decided to combine two ministries to reduce costs. As a result, there is a risk of losing the workers there. Although Islamabad did not say anything clearly about this. According to sources, the Sharif government will not retrench the employees of those two ministries. It is believed that the process can start in the next one-and-a-half months. To get out of the extreme financial crisis, Islamabad is going to take a loan from the International Monetary Fund (IMF). Pakistan has been asked to make several tough decisions as a condition for giving that money. Due to which the ministry has to be retrenched and the employees have to be laid off, the Sharif government said. Pakistan is going to receive a loan of 7 billion dollars from the IMF. 

This international financial organization has approved on September 26 this year. The IMF asked the Pakistan government to cut costs to get loans. Besides, Islamabad has to accept conditions such as increasing the tax-GDP ratio, imposing taxes on non-traditional sectors like agriculture and real estate and reducing subsidies. It would be wrong to think that the International Monetary Fund is paying the full amount of the loan to the Pakistan government. Islamabad will get that money in several installments. Currently, the Sharif government has received a green signal to receive the first installment of $100 million from the IMF. Pakistan's Finance Minister Mohammad Aurangzeb visited America to receive the IMF loan. He also informed that the money has been found back in the country. According to the financial experts, there was no other way open to Pakistan except to declare themselves bankrupt if they do not get this loan. In this context, the Pakistan Finance Minister said, "A relief package has been finalized with the IMF, which will be the last package for Pakistan." We have accepted all the demands of the IMF for the development of our economy.'' However, Aurangzeb said that the country's economy will be much more prosperous for him. International relations experts, however, claim that it is very difficult for Islamabad to join the organization of G20 states. Because it is a group made up of the top 20 countries in the world financially. Which includes advanced economies like America, Britain, France, Italy, Germany, China. Notably, the Pakistan Finance Minister made it clear that the difficult decision had to be taken to get the IMF loan. In his words, "work has started to close six ministries." And the two ministries are being merged. 

It has been decided to abolish a total of one and a half lakh posts in various ministries. Aurangzeb said, "The number of new taxpayers last year (2023) was approximately three lakhs. So far this year, 732,000 people have registered as new taxpayers. In other words, the number of taxpayers in the country has doubled in one jump. He also said that such residents can no longer buy property or cars. Even if the country is facing bankruptcy, Islamabad is not willing to accept it. Finance Minister Aurangzeb said, "The economy is moving in the right direction. He also claimed that Pakistan's national exports have increased. Last year, Pakistan was almost in a state of bankruptcy. Islamabad reaches out to the IMF to save the economy. At that time, this neighboring country in the West received a loan of 3 billion dollars from the International Fund. New Delhi is seeing a vermilion cloud because Pakistan has repeatedly received money from the IMF. Because when money comes to the chest of Islamabad, it is spent behind terrorism, it is not known to anyone. In that case, there is a danger of increasing the level of terrorist attacks in this country.