Prime Minister Shehbaz Sharif will unveil the government’s austerity and savings plan on Monday amid the prevailing global fuel crisis triggered by the ongoing US-Israel-Iran conflict.
The development came during a meeting presided over by PM Shehbaz on Sunday to discuss measures to maintain the stability of the national economy in light of the recent rise in international tensions. It was informed in the meeting that the final austerity and savings plan will be formally announced on Monday.
The federal government raised petrol and diesel prices by Rs55 per litre as surging global oil prices, fuelled by the US‑Israel war with Iran, put pressure on domestic energy costs.
The premier was given a detailed briefing on the recent global tensions and their potential economic impacts.
During the meeting, it was informed that the current regional situation could affect Pakistan’s economy, particularly the supply of energy and price fluctuations in global markets.
