The federal government’s recent decision to slash 150,000 jobs in a right-sizing initiative aimed at revamping the economy has sent shockwaves through the country. Finance Minister Muhammad Aurangzeb delivered this bombshell announcement at a press conference, outlining the administration’s ambitious plan to streamline operations and boost efficiency.
Unveiling the Revamp
Aurangzeb revealed that the government plans to halve the number of affiliated agencies, axing 150,000 vacant positions in the process. This move is part of a comprehensive cost-cutting drive that aims to reshape the federal government’s structure by consolidating 80 agencies into 40, with a target completion date set for June 2025.
Initiative Underway
The restructuring initiative was set in motion in mid-2024 by a committee assembled under the leadership of Prime Minister Shehbaz Sharif. This committee’s primary objective is to rationalize expenditures and enhance overall performance by trimming down the government’s bloated financial footprint, which currently stands at a staggering Rs900 billion annually.
Economic Transformation and Stability
Aurangzeb emphasized that the downsizing measures are not solely focused on cost-cutting but also on driving efficiency improvements across the board. The government is also charting a new economic course, shifting towards export-driven growth and leveraging digitalization and technology initiatives to propel the economy forward. In a promising development, the prime minister is set to inaugurate a cutting-edge technology program in Karachi in the near future.
Consultative Approach
The finance minister underscored that the downsizing decisions were made after extensive consultations with ministry heads and affiliated agencies. Each entity was given a fair chance to present its case before final determinations were reached, ensuring a transparent and inclusive process.
This radical revamp underscores the government’s commitment to steering the country towards a more sustainable economic future, marked by efficiency, innovation, and prudent financial management. As Pakistan navigates these transformative changes, the implications of this downsizing initiative are sure to reverberate across various sectors, reshaping the country’s economic landscape for years to come.
