PM to Announce Austerity Policy Tomorrow Amid Global Tensions
Ehtisham Yousaf
Islamabad: The federal government is set to formally unveil its final action plan on austerity and savings tomorrow (Monday), following a high-level meeting chaired by Prime Minister (PM) Shehbaz Sharif to review measures aimed at stabilizing the economy amid rising global tensions.
During the meeting, the Prime Minister was briefed on the potential economic impacts of the current international situation, including energy supply challenges and fluctuations in global markets.
Officials emphasized the need for proactive measures to protect the country’s economy.
PM Shehbaz stressed that timely implementation of austerity measures is critical for economic stability.
He directed federal and provincial authorities, as well as senior government officials, to ensure that resources are used effectively and the public is shielded from undue economic pressure.
“All government employees and ministers must adopt simplicity and frugality,” the Prime Minister said, adding that once the economy stabilizes, maximum relief will be provided to the people.
PM Shehbaz also noted that the instructions on austerity will not affect the industrial and agricultural sectors, ensuring that production, exports, and food security remain unaffected.
The meeting highlighted that the burden of austerity should be shared fairly, with privileged and elite sections of society setting an example in making necessary adjustments.
Several proposals related to frugality, savings, and resource management were reviewed in detail.
Officials confirmed that Pakistan has adequate reserves of diesel, petrol, and other petroleum products, with emergency measures in place to manage any potential disruptions.
The Ministry of IT will implement a continuous monitoring system to track supply and demand, promote energy savings, and enable timely decisions by relevant authorities.
Chief Secretaries from all four provinces briefed the Prime Minister on regional economic activities, energy usage, and administrative preparations in response to global developments.
The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Finance Minister Muhammad Aurangzeb, Planning and Development Minister Dr Ahsan Iqbal, Minister for Power Sardar Owais Leghari, Minister for Petroleum Ali Pervez Malik, Federal Minister for Information and Broadcasting Attaullah Tarar, Minister for Environment Dr. Mosaddiq Masood Malik, Special Assistant Haroon Akhtar, and senior officials of relevant institutions.
The government’s upcoming announcement is expected to outline detailed austerity measures designed to ensure economic stability while minimizing the impact on ordinary citizens.
Read More: https://thepenpk.com/petrol-diesel-prices-raised-by-rs55-litre-amid-global-oil-surge/
