PM unveils ‘austerity plan’ tomorrow amid global fuel crisis

• Premier Shehbaz chairs review meeting from Lahore as govt finalises ‘conservation strategy’

• PM urges elite, privileged class to lead austerity drive as work-from-home, distance learning proposed to conserve fuel if needed

• Govt says adequate petrol and diesel reserves available despite crisis

 ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday said the government would unveil “an austerity plan” on Monday (tomorrow) in view of the prevailing global fuel crisis triggered by the US/Israel-Iran war, state media reported.

Prime Minister Shehbaz Sharif chaired a meeting from Lahore to review the “proposed austerity plan,” according to a press release issued by the Prime Minister’s Office (PMO) on Sunday.

Lahore: Prime Minister Muhammad Shehbaz Sharif chairs a meeting regarding austerity measures across the country. pic.twitter.com/Ee3iicEAXJ

— Government of Pakistan (@GovtofPakistan) March 8, 2026

“The meeting was apprised that the final plan regarding austerity and savings will be announced tomorrow (Monday),” the statement confirmed.

On Friday, the government announced an increase of up to Rs55 in petroleum product prices amid the regional energy crisis.

The meeting was informed that the country currently has adequate reserves of petrol and diesel, and the government has already taken precautionary steps to deal with any emergency situation.

وزیراعظم محمد شہباز شریف کی زیر صدارت بین الاقوامی سطح پر حالیہ کشیدگی کی وجہ سے ملکی معیشت کو مستحکم رکھنے کے لیے اقدامات کے حوالے سے اجلاس۔

وزیراعظم نے اس عزم کا اظہار کیا کہ حالیہ صورتحال سے نمٹنے کے لیے تمام تر اقدامات کیے جائیں گے جن سے عوام کے مفادات کا مکمل تحفظ کیا جائے… pic.twitter.com/QX1DuG1Oja

— Government of Pakistan (@GovtofPakistan) March 8, 2026

The statement added that a contingency plan had also been prepared under which work-from-home arrangements and distance learning were proposed until the situation returns to normal. However, the prime minister had halted the plan on Friday and decided that the situation would instead be reviewed on a weekly basis.

Presiding over the meeting, PM Shehbaz stressed the need for the prudent use of petroleum products during the crisis.

وزیراعظم محمد شہباز شریف کی زیر صدارت بین الاقوامی سطح پر حالیہ کشیدگی کی وجہ سے ملکی معیشت کو مستحکم رکھنے کے لیے اقدامات کے حوالے سے اہم اجلاس

وزیراعظم نے وفاقی کابینہ، وفاقی و صوبائی سطح پر تمام منتخب نمائندوں اور اعلیٰ سرکاری افسران کو ہدایت کی کہ وہ عوام کو ریلیف فراہم کرنے… pic.twitter.com/UTCNN4ZMjO

— Government of Pakistan (@GovtofPakistan) March 8, 2026

“The government will provide significant relief to the masses once the situation stabilises,” the prime minister was quoted as saying.

“The burden of austerity should be borne judiciously by all segments of society, while the elite and privileged class should set an example by adopting adjustments and austerity measures.”

The prime minister urged members of the federal cabinet, federal and provincial ministers, and government officials to play their role in providing relief to the people and ensuring the optimal use of available resources.

“The government is fully aware of the situation and the fluctuations in international oil prices, and therefore measures are being taken to provide maximum relief to the people,” the prime minister said.

Earlier this week, the government had decided in principle to introduce weekly revisions in petroleum prices effective from March 8, along with measures such as distance learning and work-from-home arrangements to conserve fuel amid possible oil supply disruptions due to the ongoing conflict in the Middle East.

PM visits residence of Zaeem Qadri, expresses condolences to bereaved family

Meanwhile, Prime Minister Muhammad Shehbaz Sharif on Sunday visited the residence of senior politician and former provincial minister, late Zaeem Qadri, and expressed his condolences to the bereaved family.

The prime minister offered prayers for the elevation of the departed soul’s ranks and for patience and strength for the family members during this difficult time.

Speaking on the occasion, he said that the services of the late Zaeem Qadri for democracy will always be remembered.

Federal Minister for Information and Broadcasting Attaullah Tarar and the Prime Minister’s Special Assistant Talha Burki were also present during the visit.