Pakistan Cuts 150,000 Government Jobs to Secure $7 Billion IMF Loan
The country will also close six ministries and merge two others as part of the financial reforms required by the International Monetary Fund.
- Pakistan's government announced the elimination of 150,000 jobs to comply with IMF loan conditions.
- Six ministries will be closed and two others will be merged to reduce administrative expenditures.
- The IMF approved a $7 billion assistance package, releasing over $1 billion as the first tranche.
- Pakistan aims to increase its tax-to-GDP ratio and tax non-traditional sectors like agriculture and real estate.
- The country's foreign exchange reserves have reached their highest level, and inflation has dropped to single digits.
Hindustan Times 
NDTV 