Prime Minister forms austerity committee as economic challenges mount

Prime Minister Shehbaz Sharif has set up a National Austerity Commission to conserve resources and take austerity measures to ensure rational use of public money besides curbing expenditure to reduce fiscal deficit.

The committee has been set up in view of the economic challenges facing the country and will submit its recommendations within 15 days for consideration by the prime minister.

Former civil servant Nasir Mahmood Khosa will be the convener of the 15-member co-committee with the Finance Minister as the co-convener. The Committee may select any person from the public/private sector if deemed necessary.

The Committee’s Terms of Reference (TOR) include:

To reduce public expenditure and ensure fiscal discipline.
Taking measures to save state functions.
Review and streamline the size of government to achieve optimal and smart organizational structures, including reviewing state-owned enterprises and corporations that have redundant or overlapping functions.
Invitation to submit proposals from Ministries/Departments regarding austerity measures including cost containment.
Any other matter related to or incidental to achieving leanness in government operations.



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