PM pledges economic stability, public relief amid global uncertainties

-- PM Shehbaz Sharif assigns enforcement of national austerity and fuel conservation plan to IB

-- Says government prioritizing immediate public relief while ensuring long-term economic stability

-- Also chairs high-level meeting on petroleum reserves, price controls, and austerity measures

-- Petroleum companies instructed to maintain government-determined prices with full transparency

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday reaffirmed that economic stability and providing relief to the public remain the government’s top priorities. He emphasized that all measures are being taken to offer immediate support while safeguarding long-term economic resilience.

Addressing the current global tensions, the prime minister stated that Pakistan is prepared to face any economic challenges that may arise.

Chairing a review meeting on austerity measures, public relief, and management of petroleum reserves, the prime minister directed petroleum distribution companies to sell products at government-set prices while maintaining full transparency, according to a press release from the PM Office Media Wing.

The meeting was attended by Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, Information and Broadcasting Minister Attaullah Tarar, IT Minister Shaza Fatima Khawaja, State Minister for Finance Bilal Azhar Kayani, and senior officials.

The prime minister highlighted that timely government decisions had ensured an adequate supply of petroleum products in the country despite global market fluctuations. He added that a national-level austerity plan is already in effect, and additional measures are being considered to further strengthen economic stability. A third-party audit has been ordered to ensure proper implementation of these measures.

Officials briefed the prime minister on current oil reserves, petroleum imports, and strategies to protect public interests amid ongoing global uncertainties. Citizens can now use the Pak App to report fuel shortages or overpricing, enabling authorities to take immediate corrective action.

Participants lauded the prime minister’s recent decision to freeze petroleum prices, reinforcing the government’s commitment to public relief and economic stability.

PM Shehbaz Sharif assigns IB enforcement of national austerity and fuel conservation plan

Prime Minister Muhammad Shehbaz Sharif has assigned the Intelligence Bureau (IB) to monitor the implementation of the national austerity and fuel conservation plan across all government institutions.

According to a Cabinet Division notification issued on Monday, the IB will “conduct a comprehensive audit and validation exercise, including impact assessment, with respect to all fuel conservation and additional austerity measures.” Weekly reports will be submitted to the prime minister as well as the Committee for Monitoring and Implementation of Fuel Conservation and Additional Austerity Measures.

The wide-ranging austerity plan was announced by the prime minister amid rising fuel costs triggered by the ongoing US-Israel-Iran conflict in the Middle East. Addressing the nation on March 9, PM Shehbaz highlighted that the government had taken difficult economic and administrative decisions to manage the situation and mitigate the impact of the energy crisis.

The measures include cutting government expenditures, reducing the official workweek to four days, minimizing non-essential movement, and implementing salary reductions. Members of the federal cabinet, advisers, and special assistants will forgo salaries for the next two months, while parliamentarians will face a 25% salary cut over the same period.

Sources confirmed that the IB has also been tasked with monitoring compliance within the National Assembly and Senate secretariats, with immediate action to be taken against officers found violating the austerity or fuel conservation measures.

The notification followed a high-level review meeting chaired by PM Shehbaz on enforcement of austerity and conservation measures. During the meeting, the prime minister reiterated that economic stability and provision of relief to the public remain the government’s top priorities. He emphasized that consultations are ongoing to implement additional relief measures and noted that an adequate quantity of petroleum products is available in the country thanks to timely government decisions.

The prime minister also directed petroleum distribution companies to ensure fuel is sold at government-determined prices with full transparency, reaffirming the administration’s commitment to both economic stability and public relief amid ongoing global tensions.