ISLAMABAD: Prime Minister Shehbaz Sharif chaired a comprehensive meeting on Monday, aiming to assess potential economic impacts of the ongoing war in the Middle East and formulate measures to stabilise Pakistan’s economy.
The session reviewed a series of recommendations aimed at promoting frugality and simplicity across government operations, sources said. All four provincial Chief Ministers participated in the meeting via video link.
During the meeting, Federal Finance Minister Muhammad Aurangzeb briefed attendees on the government’s austerity policy, highlighting strategies for resource optimisation and expenditure reduction.
Officials provided detailed analyses of the potential effects of regional and global developments on Pakistan’s economy, including challenges arising from fluctuations in international markets.
Prime Minister Sharif emphasised that timely measures to ensure economic stability are crucial given the current international situation.
He reaffirmed that the government is closely monitoring developments, and maintaining national economic stability remains a top priority.
The Prime Minister pledged that the government will provide maximum relief to citizens during difficult times.
Special instructions were issued to the federal cabinet, elected representatives, and senior officials to ensure the effective and efficient use of resources, while simultaneously providing relief to the public.
All government employees and ministers were directed to adopt simplicity and frugality, with similar austerity measures also planned for the industrial and agricultural sectors.
Sharif stressed that national production, exports, and food security should remain unaffected by these measures. He urged all segments of society to share the burden of frugality fairly, encouraging the privileged and elite to lead by example.
Briefings also highlighted that Pakistan maintains adequate reserves of petrol, diesel, and other petroleum products, with contingency arrangements in place for emergencies.
Officials emphasised the careful use of energy and fuel, with continuous monitoring of supply and demand to conserve government resources.
Provincial representatives presented their plans in light of global tensions, and provinces were directed to implement administrative measures effectively.
Instructions were given to maintain digital connectivity, including uninterrupted internet access for remote workers, to ensure the smooth continuation of work-from-home arrangements.
As part of the national austerity policy, the federal cabinet has decided that ministers will forgo their salaries for two months.
Attendees were also informed about the urgent need to conserve petroleum products in response to global economic pressures, along with government-level measures aimed at reducing overall expenditures.
Prime Minister Sharif had earlier directed that the national austerity policy be formulated in close consultation with the provinces.
He emphasised that the government will take all necessary steps to safeguard the interests of the people and ensure economic stability.
Sharif reiterated that all government employees and ministers must adopt austerity and simplicity, stressing that these measures are essential to protect the economy and provide maximum stability for the nation.
