ISLAMABAD: Prime Minister Shehbaz Sharif is set to unveil a government austerity plan on Monday in response to the ongoing global fuel crisis triggered by the conflict between the United States, Israel and Iran, according to the Prime Minister’s Office.
The prime minister reviewed the proposed measures during a meeting on Sunday, where officials briefed him on the final strategy aimed at reducing fuel consumption and managing economic pressures stemming from rising international oil prices.
A statement issued by the PMO confirmed that the government’s plan focusing on austerity and savings would be formally announced on Monday.
Earlier on Friday, the government raised petroleum prices by up to Rs55 per litre amid the regional energy crisis and volatility in global oil markets.
During the meeting, officials informed the prime minister that Pakistan currently has sufficient reserves of petrol and diesel, and precautionary steps have already been taken to address any potential supply disruptions.
The government has also drafted a contingency plan that includes proposals such as work-from-home arrangements and distance learning to conserve fuel if the situation worsens. However, the prime minister had earlier paused the immediate implementation of these measures, deciding instead that the situation would be reviewed weekly.
While chairing the meeting, Shehbaz Sharif emphasised the importance of responsible fuel consumption during the ongoing crisis. He stated that once the international situation stabilises, the government would aim to provide relief to the public.
“The burden of austerity should be shared fairly across society,” the prime minister said, adding that the elite and privileged segments should lead by example in adopting austerity measures.
He also urged members of the federal cabinet, provincial authorities and government officials to actively contribute to efforts aimed at supporting citizens and ensuring the efficient use of available resources.
Officials noted that the government is closely monitoring fluctuations in global oil prices and is taking steps to minimise the impact on the public.
Earlier this week, the government had also decided in principle to introduce weekly revisions in petroleum prices starting March 8, along with other conservation measures, amid concerns over potential oil supply disruptions linked to the ongoing Middle East conflict.