Says economic stability, delivery of relief to the public remains the government’s top priorities
Prime Minister Shehbaz Sharif chairs a meeting on enforcement of austerity and relief measures and conservation and management of oil reserves in the wake of the new situation in the region. Photo: X
Prime Minister Shehbaz Sharif said on Monday that the government was prepared to face any situation arising out of the ongoing global tensions following the US and Israeli attacks on Iran.
The meeting was held in the wake of the latest crisis triggered by oil supply disruptions following the closure of the Strait of Hormuz. Last week, to deal with the situation, Prime Minister Shehbaz announced a four-day work week and a work-from-home policy as part of sweeping austerity measures.
The Prime Minister chaired a review meeting today regarding the enforcement of austerity and relief measures as well as the conservation and management of oil reserves in light of the new regional situation.
Under the presidency of Prime Minister Muhammad Shahbaz Sharif, the measures to stabilize the economy and provide relief to the people of the global tension from around the world
In view of the recent global situation, consultations are also ongoing, Prime Minister
the government’s timely… pic.twitter.com/5pRkUes1fm
— PTV News (@PTVNewsOfficial) March 16, 2026
Prime Minister Shehbaz told the participants that given the current global circumstances, consultations were underway on additional measures to provide relief to the public. He added that due to the timely decisions of the government, an adequate amount of petroleum products was currently available in the country.
He said that considering the fluctuating global situation, the timely decisions taken by the committee formed to maintain economic stability had ensured the continued supply of petroleum products to the public.
The prime minister said economic stability and the delivery of relief to the public remained the government’s top priorities. He added that all measures were taken not only to provide immediate relief but also to ensure long-term economic stability.
The Prime Minister directed oil distribution companies to ensure sale of petroleum products at government-fixed prices and to maintain transparency in the process.
He further said that austerity and austerity measures had already been implemented at the national level and that further initiatives were under consideration. He added that directives were also issued for a third-party audit to ensure the implementation of all these decisions.
The Prime Minister was briefed on the country’s existing oil reserves, the import of petroleum products to meet the local demand and measures taken to help the public under the current circumstances.
Read more: PM announces 4-day work week, work from home
The members of the meeting were informed that the government continuously monitored the sale of petroleum products at fixed prices.
The meeting participants also appreciated the Prime Minister’s decision on Friday not to increase oil prices further.
