Prime Minister Shehbaz Sharif has directed relevant ministries to develop a comprehensive austerity plan to address global economic pressures stemming from regional tensions. The plan should prioritize minimizing the burden on the public while maintaining public relief efforts, according to a statement released by the Prime Minister’s Office.
Economic Strategy Focused on Austerity and Savings
Sharif issued these directives during a review meeting on the country’s economic situation in Islamabad on Saturday. Participants were briefed on recent global tensions and their economic impact on the region.
The prime minister instructed authorities to formulate a strategy focused on economic growth, simplicity, and savings. He requested practical recommendations within the next 48 hours.
Sharif emphasized the importance of minimizing the impact on the public while prioritizing public relief. He received a briefing from the committee currently working on the matter.
Petroleum Conservation and Supply
The prime minister also directed the finance and petroleum ministers to collaborate with provincial governments to develop a coordinated strategy for conserving petroleum products and ensuring uninterrupted supply nationwide.
Authorities were instructed to take strict action against hoarding and artificial shortages. Any petrol pump or company found involved in such practices will face immediate closure, license revocation, and legal action, Sharif stated.
Officials briefed the prime minister on the evolving global situation and its economic implications for the region during the meeting.
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