AUSTERITY MEASURES: GOVT CURTAILED EXPENDITURES BY 30 PERCENT.
The finance ministry on Thursday issued notification regarding austerity measures for the ongoing financial year 2013-14 stating that government has curtailed the expenditures of ministries/ divisions by 30 percent. However, the finance ministry notification did not mention about the cut on Prime Minister's house expenditures in the notification. Premier Nawaz Sharif earlier decided to curtail the expenditures of PM house by 45 percent owing to austerity measures adopted by federal government.
"The Finance Minister in his budget speech has also announced that the budget 2013-14 excluding debt servicing, defence, pay and allowances, subsidies and grants shall be reduced by 30pc and no vehicles shall be purchased except operational vehicles of law enforcement agencies and critical development projects", stated the finance ministry notification on austerity measures.
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|Publication:||Pakistan & Gulf Economist|
|Date:||Jul 21, 2013|
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