Pakistan IMF Loan: A victim of economic crisis, Pakistan has got stuck in a big crisis. To fulfill the conditions of the International Monetary Fund (IMF), it has terminated the jobs of about 1.5 lakh government employees. The Pakistani government has had to close six of its ministries. These 1.5 lakh employees work in these six ministries. Not only this, it has also had to merge two ministries. Actually, Pakistan has got a loan of 7 billion dollars from the IMF but for this, the global financial institution has imposed many conditions of economic reform on it. If Pakistan implements these conditions, then it will get this loan from the IMF in a phased manner.

Merging two ministries

According to reports, cash-strapped Pakistan on Sunday announced plans to eliminate about 1.5 lakh government posts, dissolve six ministries, and merge two ministries to reduce administrative expenses as part of a deal with the IMF. Pakistan has agreed to adopt reforms as part of a deal with the IMF for a loan of seven billion US dollars.

Received the package on 26 September

The IMF finally approved an economic aid package for Pakistan on September 26. The IMF released a first tranche of US$1 billion for Pakistan after Pakistan committed to cutting expenses, increasing the tax ratio to GDP, taxing non-traditional sectors such as agriculture and real estate, delegating some fiscal responsibilities to the provinces, and limiting subsidies.

There is a lot of anger among the people.

Addressing the media on his return from the US, Finance Minister Mohammad Aurangzeb said that a program has been finalized with the IMF, which will be the last program for Pakistan. He said, 'We need to implement our policies to prove that this will be the last program.' He stressed that the economy has to be improved to join the G20. There is a lot of anger among the people against the Shahbaz government over the abolition of government jobs. His move is being criticized a lot.