ISLAMABAD: Federal ministers belonging to the ruling Pakistan Muslim League-Nawaz (PML-N) party of Prime Minister Shehbaz Sharif on Wednesday decided to forego salaries “for the national spirit,” local media widely reported.
The announcement comes as Pakistan is in talks with the International Monetary Fund to reach a deal to unlock funding critical to keep the cash-strapped south Asian country afloat. Pakistan is in dire need of funds as it battles a wrenching economic crisis.
“The legislative ministers themselves proposed the Prime Minister Shehbaz Sharif of working without pay,” Samaa reported. “PM Shehbaz approved the request of ministers and appreciated their concern for nation.”
Twelve federal ministers and three state ministers will now work on a voluntary basis, as reported by multiple Pakistani media outlets.
The move comes as Pakistan’s foreign exchange reserves held by the central bank have fallen to $2.9 billion, barely enough to cover three weeks of imports. A resumption of the IMF program would also unlock other avenues of funding for Pakistan.
