IMF urges government of Pakistan to withhold the salaries of government employees

According to a report by Baaghi TV, the IMF has urged the government of Pakistan to withhold the salaries of government employees.

The IMF has called on the Government of Pakistan not to increase the salaries of government employees in the forthcoming budget and to pursue fiscal stabilization policies with the announcement of a nominal target for the primary budget deficit in the budget.

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Pakistan’s debt is likely to reach 90% of the value of the country’s economy, in this context, the IMF is urging the government to pursue deficit and debt reduction policies.

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According to sources in the Pakistani Ministry of Finance, due to the current difficult economic situation, rising government debt and Pakistan’s decision to seek debt relief from the G20 countries, the IMF Islamabad is emphasizing on not increasing the salaries of government employees. However, the government is reluctant to accept the demand due to rising inflation.

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The main demand of the IMF is that the government announce a target of 184 billion (0.4% of GDP) as a primary budget deficit. According to sources, the government does not expect a significant increase in revenue collection in the next financial year due to the current economic situation. On the other hand, due to inflation, it intends to increase salaries by 10 to 15 percent and pensions by 10 percent.

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Contrary to the IMF’s demand, the government has proposed that the primary target for the budget deficit be set at 1.9 per cent of GDP, or Rs 875 billion. This means that according to the IMF, the budget deficit target will be 7% of GDP, while the federal government is seeing a budget deficit of 8.4% of GDP or Rs 3.9 trillion.

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The IMF’s main demand is that the government announce a target of 18 184 billion (0.4% of GDP) as a primary budget deficit. According to sources, the government does not expect a significant increase in revenue collection in the next financial year due to the current economic situation. On the other hand, due to inflation, it intends to increase salaries by 10 to 15 percent and pensions by 10 percent.

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The IMF has called for freezing salaries, non-development spending and defense spending to reduce the budget deficit. IMF officials say G20 countries can cut salaries, so why can’t Pakistan?

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According to sources, the 6 billion expansion fund facility of the IMF program will be restored when the government presents the next budget in accordance with the IMF’s macroeconomic framework.

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