ISLAMABAD: Prime Minister Shehbaz Sharif and members of the federal cabinet decided to voluntarily forego their salaries and perks as part of the government’s efforts to promote austerity.

The decision was made in a cabinet meeting chaired by the prime minister which took up different agenda items including the briefing on Staff Level Agreement with the International Monetary Fund (IMF), the constitution of PIA Holding Company and others.

Federal Finance Minister Muhammad Aurangzeb briefed the cabinet members on the Staff Level Agreement with the IMF. It was told that the IMF agreement would help improve the national economy and boost the investors’ confidence.

As an important headway towards the PIA’s privatisation, the federal cabinet approved the formation of the PIA Holding Company.

Reiterating its resolve to eliminate terrorism from the country, the cabinet members offered Fateha for the martyrs of a terrorist attack that took place in Mir Ali area of North Waziristan on March 16, and paid tribute to them.

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