US EditionSOE Employees to Face up to 30% Pay Cut
Salary cuts of 5-30% for SOE employees will fund public relief amid austerity measures triggered by global fuel price rises due to the US-Iran conflict, officials said.
- On Saturday, Prime Minister Shehbaz Sharif chaired a meeting where employees of state-owned enterprises and autonomous institutions were directed to face salary cuts of 5-30 percent under new austerity measures.
- Triggered by the US-Iran war that began two weeks ago, the closure of the Strait of Hormuz caused massive fuel price hikes, forcing the government to implement these austerity measures.
- The Prime Minister reaffirmed a complete ban on new government vehicle purchases and foreign visits for government officers, with all funds saved directed to be used "only for public relief."
- Concerned secretaries must submit daily reports to the review committee monitoring these measures, while law enforcement agencies and the Federal Board of Revenue remain exempt from the four-day work week.
- Cabinet members and special assistants will contribute two months' salaries to public welfare savings, while Pakistani embassies have been directed to celebrate Pakistan Day on March 23 with "utmost simplicity.
15 Articles
15 Articles
SOE employees to face up to 30% pay cut
Employees of state-owned enterprises (SOEs) and autonomous institutions operating under government patronage will face salary cuts ranging from five to 30 per cent as part of the government's austerity drive, with the savings earmarked for public relief. The decision was taken on Saturday at a meeting chaired by Prime Minister Shehbaz Sharif to review the impact of rising petroleum product prices and the implementation of austerity measures amid…
Shehbaz Sharif approves up to 30% salary cuts at Pak's state firms amid fuel crisis
The new measures were cleared during a review meeting convened to evaluate a slew of austerity and savings plans announced on Monday to tackle the economic fallout of the fuel crisis triggered by the ongoing US-Israel-Iran conflict.
To address the fuel crisis, the Pakistani government has implemented strict austerity measures. Prime Minister Shahbaz Sharif has approved salary cuts ranging from 5 to 30 percent for employees of state-owned companies and autonomous institutions. A 50 percent reduction in fuel costs for government vehicles and the removal of 60 percent of vehicles from the roads for two months has been implemented. Ministers' salaries and board meeting fees for…
Pakistan PM approves up to 30% salary cuts in state firms amid fuel crisis
Pakistan's Prime Minister Shehbaz Sharif has approved salary cuts for employees of state-owned firms. Deductions will range from five to thirty percent. This move is part of a wider austerity drive to manage economic challenges. The government is also reducing fuel for official vehicles and taking many off the roads. Cabinet members' salaries will also be used for public welfare.
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