Pakistan’s newly elected President Asif Ali Zardari declared on Tuesday that he will not receive a salary during his term to assist the cash-strapped country in dealing with the difficult economic situation.
Zardari, 68, who took oath as Pakistan’s 14th President on Sunday, has vowed to promote cautious financial management rather than burden the national budget, according to a statement issued by his Pakistan Peoples Party (PPP).
“The President considered it essential not to burden the national exchequer and preferred to forgo his salary,” the President Secretariat Press Wing said in a press release on Tuesday.
In 2018, Parliament fixed the monthly salary of former president Arif Alvi at ₹8,46,550. Zardari is one of Pakistan’s richest leaders.
On Sunday, Zardari, co-chairman of the PPP, took the oath of office as President of Pakistan for a second term in a ceremony at Aiwan-i-Sadr in Islamabad.
Separately, Interior Minister Mohsin Naqvi followed Zardari’s lead and opted to renounce his salary while in office, citing the country’s economic woes.
Naqvi said that he is determined to serve the nation “in every possible way” during these difficult times.
Interior Minister Naqvi vows to forgo salary, and pledges to serve the nation in tough times
Naqvi stated that he has opted to forgo his salary. “In these challenging times, I am committed to supporting and serving our nation in every possible way,” he wrote in a Facebook post.
Debt-struck Pakistan has been struggling under economic strain, with commodity prices reaching record highs.
The newly elected administration requires a new loan from the International Monetary Fund immediately, and its politicians, who are frequently super-rich, utilize similar tactics to win support from the impoverished masses.
In February of last year, the Cabinet of then-Prime Minister Shehbaz Sharif forewent their salaries and other benefits to assist the country in dealing with a potential default on external creditors.
Addressing the initial cabinet meeting after inducting 19 members on Monday, Prime Minister Sharif stated that the first test for the cash-strapped country’s newly elected government will be to control inflation and food prices.
Sharif, who was elected for a second term on Sunday, stated that controlling inflation is the most difficult problem; however, the government, in collaboration with provincial governments, will study strategies to manage critical commodity prices.
“This is our first test,” he said.
Pakistan’s deep economic crisis demands “deep surgery,” says Sharif
Sharif stated that Pakistan is facing huge challenges and a “deep surgery” is required to lift the cash-strapped country out of the economic crisis.
Taking stock of the concerns and problems affecting the economy and the country, the prime minister instructed his Cabinet colleagues to “perform or perish,” claiming that the time is “now or never.”
Sharif urged the administration to make difficult decisions quickly. “Deep surgery is needed as antibiotics will not work,” the doctor added.
He ordered the immediate creation of a commission to regulate the cost of vital foods.
He emphasized that rigorous action would be taken against unreasonable price hikes and profiteering in basic commodities.
In accordance with the Ministry of Commerce’s request, the Cabinet also agreed to a limitation on onion and banana exports until the 15th of next month.