According to Express News, minutes after Prime Minister Shehbaz Sharif addressed the federal cabinet and gave an impassioned speech about the impact of inflation on the masses – especially the salaried class – the cabinet approved a 30% increase in salaries of government employees. Commenting on the International Monetary Fund (IMF) programme, the premier maintained that the incumbent government has met the IMF’s major conditions. The premier maintained that Pakistan was "thankful" for the $3 billion financing commitments from friendly countries. The fate of Pakistan’s struggling economy hangs on the upcoming budget as the nation grapples with a severe crisis. To secure much-needed bailout funds, the government must satisfy the IMF, while also preparing for an impending general election scheduled for November.

Source: The Express Tribune June 09, 2023 20:40 UTC