{"id":65852,"date":"2020-05-27T10:00:00","date_gmt":"2020-05-27T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65852"},"modified":"2020-05-22T22:17:52","modified_gmt":"2020-05-22T17:17:52","slug":"govt-mulls-freezing-recruitments-save-funds","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-mulls-freezing-recruitments-save-funds.html","title":{"rendered":"Govt mulls over freezing recruitments to save funds"},"content":{"rendered":"\n<p>Islamabad: The government is considering freezing new recruitments for the next two years in order to tackle the economic crisis accrued in the wake of the nationwide coronavirus outbreak, a news source reported. It is also expected to suspend all employee-related expenditures till 2023.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html\" target=\"_blank\" rel=\"noreferrer noopener\">Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion<\/a><\/p>\n\n\n\n<p>Reportedly, the government plans to implement this austerity measure through asset recycling, suspended salary and pension increments, and other such concerns. To this effect, PKR 421 billion worth of state pensions are expected to be managed through the establishment of a retirement funds to help raise the country\u2019s savings rate levels.<\/p>\n\n\n\n<p>According to officials, these initiatives will allow the executive to retain expenditures worth nearly 1% of the GDP. To this effect, Former Advisor to the Ministry of Finance Dr Khaqan Najeeb stated that parts of the Public Sector Development Programme (PSDP) will be funded through a public-private partnership (PPP) mode.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/no-new-taxes-introduced-budget-2020-21-hafeez-sheikh.html\" target=\"_blank\" rel=\"noreferrer noopener\">No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh<\/a><\/p>\n\n\n\n<p>A number of major projects are expected to be completed on PPP basis during the next fiscal year. These uplift schemes include the Rawalpindi Ring Road (RRR) as well as Southern Loop III of the Lahore Ring Road (LRR) project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government is considering freezing new recruitments for the next two years in order to tackle the economic crisis accrued in the wake of the nationwide coronavirus outbreak, a news source reported. It is also expected to suspend all employee-related expenditures till 2023. Read: Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion Reportedly, the government plans to implement this austerity measure through asset recycling, suspended salary and pension increments, and other such concerns. To this effect, PKR 421 billion worth of state pensions are expected to be managed through the establishment of a retirement funds to help raise the country\u2019s savings rate levels. According to officials, these initiatives will allow the executive to retain expenditures worth nearly 1% of the GDP. To this effect, Former Advisor to the Ministry of Finance Dr Khaqan Najeeb stated that parts of the Public Sector Development Programme (PSDP) will be funded through a public-private partnership (PPP) mode. Read: No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh A number of major projects are expected to be completed on PPP basis during the next fiscal year. These uplift schemes include the Rawalpindi Ring Road (RRR) as well as Southern Loop III of&hellip;<\/p>\n","protected":false},"author":57,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[30024],"persona":[],"class_list":{"0":"post-65852","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-govt-mulls-over-freezing-recruitments-to-save-funds","9":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt mulls over freezing recruitments to save funds - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government is considering freezing new recruitments for the next two years in order to tackle the economic crisis accrued in the wake of the nationwide coronavirus outbreak, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-mulls-freezing-recruitments-save-funds.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt mulls over freezing recruitments to save funds - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The government is considering freezing new recruitments for the next two years in order to tackle the economic crisis accrued in the wake of the nationwide coronavirus outbreak, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-mulls-freezing-recruitments-save-funds.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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