Prime Minister Shehbaz to unveil government austerity plan amid global fuel crisis

ISLAMABAD: Prime Minister Shehbaz Sharif is set to announce a new government austerity plan on Monday, according to a statement from the Prime Minister’s Office (PMO). The move comes in response to the ongoing global fuel crisis triggered by the US/Israel-Iran conflict.

The PMO confirmed that Prime Minister Shehbaz chaired a meeting on Sunday to review the proposed austerity measures. During the meeting, officials briefed participants that the final plan for austerity and savings would be formally announced the following day.

The government has already responded to the regional energy crisis by raising petroleum product prices by up to Rs55, as announced on Friday. The PMO stated that the country currently maintains sufficient reserves of petrol and diesel. It further noted that precautionary steps have been implemented to address any potential challenges arising from the fuel situation.

According to the PMO, a contingency plan has also been prepared, which includes proposals for work-from-home arrangements and distance learning initiatives to be activated if the situation worsens. However, the Prime Minister has currently put this plan on hold.

The government’s actions come amid heightened concerns over energy supply disruptions and rising fuel costs linked to the broader geopolitical tensions in the region. The upcoming announcement is expected to outline specific measures aimed at reducing government expenditures and conserving resources during the ongoing crisis.