Lahore (Web Desk): Shehbaz Sharif has instructed relevant authorities to prepare a plan centered on austerity and prudent spending in light of the economic challenges arising from ongoing regional tensions and their impact on the global economy.
Chairing a meeting in Lahore to review Pakistan’s economic outlook in the prevailing international situation, the prime minister directed officials to submit practical and implementable proposals within the next 48 hours.
PM Shehbaz underscored that the proposed measures should aim to ease the financial pressure on citizens while giving priority to initiatives that provide relief to the public.
During the discussion, the prime minister recalled that a committee had been constituted last week to assess the economic implications of the latest regional developments.
The body has been working on a framework to deal with the evolving situation while ensuring the country maintains adequate supplies of petroleum products.
PM Shehbaz instructed the committee to accelerate its work and present straightforward and workable recommendations for the public without delay.
He also directed the finance minister and the petroleum minister to travel to all four provinces and, in collaboration with provincial administrations, formulate a plan to promote the conservation of petroleum products while guaranteeing their steady availability to consumers.
PM Shehbaz categorically directed that any petrol pump or company found responsible for hoarding or deliberately creating artificial shortages must be shut down immediately and their licenses should be cancelled and legal proceedings should be initiated against those involved.