PM Shebaz directs austerity, savings strategy amid global economic pressures

Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed that, in view of the current global economic pressure, a comprehensive strategy based on simplicity and savings should be formulated.

According to details, Prime Minister Muhammad Shehbaz Sharif chaired an important meeting to review the country’s economic situation in the context of the current global scenario. During the meeting, a detailed briefing was given on the rising global tensions and their potential economic impact on the region.

During the meeting, he instructed the committee to present actionable proposals within the next 48 hours, ensuring that the burden on the public is minimized and public relief is given top priority.

It was informed in the meeting that due to recent tensions, international economic pressure has increased, affecting the economies of various countries. At this occasion, the Prime Minister was also briefed on the work being carried out by the active committee formed for this purpose.

The meeting noted that the Prime Minister had already formed a committee last week to assess the global economic impact of the recent tensions. This committee has been working on a strategy, which is why there has been no shortage of petroleum products in the country.

Yesterday, the increase in petroleum product prices was implemented on the committee’s recommendation, with the minimal possible burden transferred to consumers. The Prime Minister instructed the committee to work more actively and present practical and feasible recommendations for the public as soon as possible.

He also issued clear instructions that any petrol pump or company found involved in creating an artificial shortage or hoarding must be immediately shut down, its license canceled, and legal action taken against the responsible parties.

During the meeting, the Prime Minister directed the Finance Minister and the Petroleum Minister to visit all four provinces and, in coordination with provincial governments, develop a comprehensive plan and strategy to conserve petroleum products and ensure uninterrupted supply to the public.