Pakistan is set to reduce administrative expenditures by cutting 150,000 government jobs and closing six ministries as part of an IMF-backed $7 billion loan deal. Finance Minister Muhammad Aurangzeb stressed the importance of implementing policies to formalize the economy and increase tax revenues,

Cash-strapped Pakistan announced that in efforts to reduce administrative expenditures, the country has cut nearly 1.5 lakh government jobs, closed six ministries, and merged two others to secure a $7 billion loan deal from the International Monetary Fund (IMF),

Pakistan announces cuts to 150,000 government jobs and closes six ministries as part of IMF reforms under a $7 billion loan agreement to stabilize the economy.

Pakistan cuts government spending, closes ministries, and merges others as part of IMF reforms, aiming to achieve fiscal stability and avoid future loans.

IMF approved an aid package to Pakistan after pledging to cut spending, raise taxes, limit subsidies, and transfer fiscal responsibilities to provinces.

Pakistan announces major reforms, including job cuts and ministry closures, as part of a USD 7 billion IMF loan agreement. The move aims to address the country's economic crisis and secure the IMF's financial assistance.