PM Shehbaz directs austerity, savings strategy amid global economic pressure

LAHORE (Dunya News) - Prime Minister Shehbaz Sharif on Saturday directed formulation of a strategy emphasizing austerity and savings in view of the current global economic pressures caused by the tensions in the region.

He was chairing a meeting on the country's economic situation in the current global context in Lahore.

The prime minister directed to come up with actionable proposals on this matter within the next 48 hours.

He emphasized that the strategy should not only minimize the burden on the public but also prioritize public relief.

Pakistan increases petrol and diesel prices by Rs55 per litre amid Middle East tensions

The prime minister had formed a committee last week to review the global economic impacts of the recent tensions, which had been working on a strategy in this regard, ensuring that there is no shortage of petroleum products in the country.

The prime minister instructed the committee to work more actively and to present simple and actionable recommendations for the public as soon as possible.

He directed the finance minister and the petroleum minister to visit all four provinces and, in coordination with the provincial governments, develop a strategy for the conservation of petroleum products and their uninterrupted supply to the public.

Shehbaz Sharif categorically directed that any petrol pump or company found involved in creating artificial shortages or hoarding should be closed immediately.