Pakistan cuts 150,000 jobs, dissolves 6 ministries for $7 billion IMF deal

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, aiming for this to be Pakistan’s final IMF program.