Amid the ongoing global fuel crisis triggered by escalating tensions between the US, Israel, and Iran, Prime Minister Shehbaz Sharif is set to unveil a comprehensive austerity plan aimed at stabilizing Pakistan’s economy. The announcement will be made on Monday, following a high-level meeting held on Sunday to assess the country’s economic and energy situation.
During the meeting, the premier emphasized the need for simplicity and austerity across all levels of government. He directed ministers, elected representatives, and government employees to adopt cost-saving measures and ensure the efficient use of national resources. The move comes as the federal government raised petrol and diesel prices by Rs55 per litre, citing the surge in global oil prices due to international conflict.
The prime minister stressed that the privileged and elite classes should lead by example, voluntarily embracing necessary adjustments. He assured the public that once the economic situation improves, the government will provide maximum relief to citizens.
To ensure energy efficiency, the Ministry of IT will implement a system to monitor demand and supply, enabling timely decisions and resource savings. The meeting also confirmed that Pakistan has adequate reserves of petroleum products and is prepared for any emergency.
Chief secretaries from all four provinces briefed the prime minister on regional energy consumption, economic activities, and administrative readiness. The directives for austerity will not apply to the industrial and agricultural sectors, preserving national production, exports, and food security.
The meeting was attended by key cabinet members, including Deputy PM Ishaq Dar, Finance Minister Muhammad Aurangzeb, and Planning Minister Ahsan Iqbal, among others. The final plan, focused on savings and simplicity, will be officially announced tomorrow.
