PM Shehbaz to announce austerity plan tomorrow amid global fuel crisis

ISLAMABAD: Prime Minister Shehbaz Sharif would unveil an austerity plan of the government on Monday in view of the prevailing global fuel crisis due to the US/Israel-Iran war, the Prime Minister’s Office (PMO) said.

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

In a press release, the PMO said the PM Shehbaz chaired a meeting on Sunday and reviewed the austerity plan.

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

The meeting was, however, informed that the country had adequate reserves of petrol and diesel, and the government had already taken precautionary measures to meet any awkward situation, it said.

It added that the government had already prepared a contingency plan under which work from home and distance learning had been proposed till the situation returns to normal. However, the PM had halted the plan on Friday and decided to review it on a weekly basis.

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

The release quoted PM Shehbaz as saying, “The government will provide significant relief to the masses once the situation stabilises.

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

The prime minister urged all members of the federal cabinet, federal and provincial ministers and government servants to play their effective role in providing relief to the people and the provision of available resources, it added.

“The government was fully aware of the situation and fluctuation of 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 start weekly revisions for petroleum prices effective from March 8 and to implement measures such as distance learning and work-from-home for the conservation of fuel amid possible oil supply disruptions due to the ongoing conflict in the Middle East.