PM to unveil austerity plan today to cope with war fallout

• Premier stresses ‘sensible use’ of petroleum products during Iran crisis; says burden should be borne ‘judiciously’ by all segments of society• Three fuel shipments expected today, petroleum minister tells Sindh CM; predicts LNG supply disruptions• Finance minister warns monthly oil import bill could rise to $600 million• Punjab CM calls for uninterrupted diesel supply for agricultural use

ISLAMABAD / LAHORE: Prime Minister Shehbaz Sharif is expected to unveil an austerity plan today (Monday) in view of the global fuel crisis, triggered by the US-Israel war on Iran, and the subsequent attacks on oil-producing Gulf states.

Last week, the government increased the prices of petrol and high-speed diesel by Rs55 per litre, the highest-ever such hike, as the country felt the first direct economic impacts of the ongoing regional conflict.

According to the Prime Minister’s Office, the premier chaired a meeting on Sunday to review the government’s austerity strategy, amid the prevailing situation in the Middle East.

The meeting was informed that the final plan regarding austerity and savings would be announced on Monday, a press release said.

Participants were told that the country had adequate reserves of petrol and diesel. They were further informed that the government had already taken precautionary measures to deal with any situation.

The government has already prepared a contingency plan under which work from home and distance learning have been proposed until the situation returns to normal. However, the prime minister deferred the plan on Friday and decided to review the situation on a weekly basis. Presiding over the meeting on Sunday, PM Shehbaz stressed the need for the sensible use of petroleum products during the ongoing crisis.

He said the burden of austerity should be borne judiciously by all segments of society, while the elite and privileged class should set an example by adopting “adjustments” and “austerity measures”.

The prime minister urged federal and provincial ministers and government officials to play their role in providing relief to the public as well as the available resources.

He said that in view of the prevailing international situation, immediate precautionary measures were necessary to avoid a further crisis. “The government is fully........

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