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KARACHI, Feb 7 (APP):Advisor to the Federal Finance Minister, Khurram Schehzad, emphasized on Friday that the government is focused on reducing its expenses through various measures, including rightsizing the civil government.
Speaking at a session titled “Pakistan’s Economy and Business Climate – Is Pakistan Ready for a Turnaround?” at the Karachi Literature Festival, Khurram Schehzad revealed that the civil government’s annual budget last year was approximately Rs. 836 billion. He highlighted that the federal government currently has 43 ministries and over 400 departments. Since the devolution of many chapters to the provinces after the 18th Amendment, rightsizing has become easier.
Khurram Schehzad explained that the fiscal equation comprises two main components: revenue and expenses. He noted that many ministries are being consolidated or being wind up, and over 150,000 vacant posts are being abolished.
He also stated that the government has successfully controlled inflation, and while corrections in the economy are being made, these changes take time.
Other panelists included former Finance Minister Miftah Ismail, Arif Habib, Amjad Waheed, and Khurram Hussain.