President Asif Ali Zardari has decided, in view of the prevailing economic challenges, that he will not draw his presidential salary.

“He took this decision to encourage prudent financial management in the country.

“The President considered it essential not to burden the national exchequer and preferred to forgo his salary,” President Secretariat Press Wing said in a press release on Tuesday.

On March 10, Zardari, co-chairman of the Pakistan Peoples Party (PPP), took oath as President of Pakistan for a second term at a ceremony at Aiwan-i-Sadr in Islamabad.

Chief Justice of Pakistan Qazi Faez Isa administered oath to the newly-elected president.

On Saturday, he was elected the 14th president of the country, defeating Mahmood Khan Achakzai of the Sunni Ittehad Council.

Later, the president administered oath to Prime Minister Shehbaz Sharif’s 19-member cabinet.