Islamabad, Pakistan – Web Desk: Prime Minister Shehbaz Sharif on Monday announced a nationwide austerity plan, including a four-day workweek and a 50 percent work-from-home policy for government employees, to address the economic impact of rising global fuel prices triggered by escalating tensions in the Middle East.
In a televised address from Islamabad, the prime minister said the ongoing conflict involving United States, Israel, and Iran had pushed global oil markets into volatility, significantly affecting countries that rely on imported energy.
“The entire region is currently in a state of war,” Sharif said, adding that Pakistan is working through diplomatic channels to support de-escalation and regional stability.
Rising Oil Prices and Economic Pressure
The premier said international crude oil prices have surged from around $60 to more than $100 per barrel amid the geopolitical crisis. As a country heavily dependent on energy imports from the Gulf region, Pakistan faces mounting economic pressure from rising fuel costs.
“The recent increase in petroleum prices was a difficult decision taken with a heavy heart,” he said, acknowledging the financial burden on citizens.
Sharif warned that domestic fuel prices could increase further if global oil markets continue to rise.
Austerity and Work-From-Home Measures
To reduce fuel consumption and control public spending, the government has introduced several austerity measures.
These include:
- A four-day workweek for government employees
- 50% work-from-home policy to reduce commuting fuel consumption
- 25% salary reduction for Members of Parliament
- 50% spending cuts across government departments
The prime minister said the measures are part of a broader strategy to stabilize the economy and reduce pressure on national finances during the crisis.
Security and Regional Situation
Sharif also highlighted ongoing security challenges along Pakistan’s western borders, stating that the country’s armed forces are responding effectively under the leadership of Asim Munir.
He condemned attacks on Iran, including the reported assassination of Ali Khamenei, while also criticizing retaliatory strikes targeting Gulf countries.
The prime minister said he had been in contact with leaders of allied nations and reaffirmed Pakistan’s commitment to regional stability.
Sharif concluded by stating that the government would continue monitoring global developments and adjust policies as needed to manage the economic impact of rising oil prices and geopolitical instability.
