Islamabad (Web Desk): Prime Minister Shehbaz Sharif has unveiled a comprehensive austerity and fuel-saving plan as Pakistan confronts the economic pressures arising from the escalating conflict between the United States (US), Israel, and Iran, which has caused significant disruptions in global oil markets.
In a televised address to the nation, the premier spoke in detail about the escalating conflict in the Middle East, the surge in global petroleum prices and the security and economic challenges facing Pakistan.
PM Shehbaz said the international price of oil is beyond Pakistan’s control, but assured that the government is making every possible effort to stabilize the country’s economy.
Expressing deep concern over the deteriorating security situation in the Middle East, the prime minister strongly condemned attacks on Saudi Arabia, United Arab Emirates (UAE), Qatar and Bahrain.
He noted that the ongoing conflict in the region has driven global oil prices sharply higher, with crude rising from around $60 per barrel to nearly $100 per barrel, a development that is directly affecting Pakistan and other oil-importing economies.
Speaking about the difficult decision to raise petroleum prices, the prime minister said he faced a profound internal dilemma. “My mind told me that increasing prices was necessary to safeguard the economy, but my heart kept asking what would happen to the poor,” he said, adding that despite the emotional struggle, tough decisions were unavoidable to maintain economic stability.
PM Shehbaz warned that oil prices could climb even further in the coming days due to the volatile global situation, but pledged that the government would try its best to minimize the burden on ordinary citizens.
In order to address the economic strain, he called upon the country’s elite to play their part in supporting the national economy and announced that the petrol quota for all government vehicles would be reduced by 50 percent for the next two months.
Addressing national security, the prime minister said Pakistan continues to face terrorism threats along its western borders, but emphasized that the country’s armed forces remain fully committed to thwarting hostile designs.
He praised the military leadership and said the armed forces are working tirelessly to safeguard the nation, offering them his heartfelt salute for their dedication.
As part of broader austerity measures aimed at reducing government expenditures, the prime minister ordered a series of strict steps.
Members of the federal cabinet will forgo their salaries for the next two months, while all government departments have been directed to immediately cut their expenditures by 20 percent.
PM Shehbaz also announced a complete ban on foreign trips by ministers, advisers and government officials, and said official state dinners and iftar gatherings would also be suspended.
In an effort to curb fuel consumption, he said that the government has decided to significantly revise office working schedules.
Under the new arrangement, government offices will operate only four days a week, with three days designated as holidays, although banks will be exempt from this decision to ensure that financial transactions continue without disruption. In addition, the use of 60 percent of vehicles across government departments will remain suspended for the next two months.
The prime minister also issued strict instructions to the administration to take firm action against those creating artificial shortages of petrol and diesel or engaging in profiteering, emphasizing that legal measures would be taken against anyone found exploiting the situation at the expense of the public.
Earlier, Prime Minister Shehbaz Sharif chaired a meeting to review the national economy and finalize a package of austerity measures in view of the prevailing regional situation.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Army Staff (COAS) and Chief of Defence Forces (CDF) Field Marshal Syed Asim Munir, along with federal ministers Khawaja Asif, Ahsan Iqbal, Jam Kamal Khan, Azam Nazeer Tarar, Muhammad Aurangzeb, Ahad Khan Cheema, Musadik Malik, Attaullah Tarar, Sardar Awais Ahmad Khan Leghari, Shaza Fatima Khawaja and Ali Pervaiz Malik. Adviser to the Prime Minister Rana Sanaullah and Minister of State Bilal Azhar Kayani were also present.
Provincial leaders including Punjab Chief Minister Maryam Nawaz, Sindh Chief Minister Syed Murad Ali Shah, Balochistan Chief Minister Sarfraz Bugti, Prime Minister of Azad Jammu and Kashmir (AJK) Faisal Mumtaz Rathore, Chief Minister of Gilgit-Baltistan Justice (Retd) Yar Muhammad Nasir, and Adviser to the Chief Minister of Khyber Pakhtunkhwa (KP) Mazhar Aslam also took part in the meeting, along with other senior government officials.
Participants were given a comprehensive briefing on countrywide initiatives aimed at reducing energy consumption.
The forum carried out detailed consultations on austerity steps and strategies to conserve energy in light of the evolving regional environment, with the objective of maintaining economic stability.
The deliberations ultimately resulted in several significant decisions regarding financial discipline and energy-saving measures.