Islamabad, March 8, 2026 — Shehbaz Sharif, Prime Minister of Pakistan, is set to unveil the government’s austerity and savings plan on Monday, aimed at stabilizing the national economy amid rising global fuel prices caused by the ongoing US-Israel-Iran conflict.
The decision was finalized during a high-level meeting on Sunday, where PM Shehbaz reviewed measures to protect the public and maintain economic stability in light of international tensions. Officials reported that petrol and diesel prices were increased by Rs55 per litre due to surging global oil costs.
Government Prioritizes Public Relief and Economic Stability
PM Shehbaz stressed the need for prudent use of national resources, emphasizing that all government employees and ministers must adopt austerity and simplicity. He directed the federal cabinet, elected representatives, and senior officials to play an active role in implementing measures to provide maximum relief to the public once the economy stabilizes.
“Once this challenging phase passes and the economy strengthens, the government will provide maximum relief to the public,” said the prime minister.
The meeting also clarified that austerity directives would not apply to industrial and agricultural sectors, ensuring that production, exports, and food security remain unaffected. PM Shehbaz highlighted that the privileged and elite segments of society should lead by example in embracing necessary adjustments.
Energy Management and Preparedness
Officials briefed the prime minister that the country has adequate reserves of diesel, petrol, and other petroleum products, with advance arrangements ready to handle any emergency situation. The Ministry of IT will implement a system to monitor fuel demand and supply continuously, ensuring efficient energy usage and timely decision-making.
Chief secretaries from all four provinces updated the PM on provincial economic activities, energy consumption, and administrative preparedness.
The meeting was attended by senior officials and federal ministers, including Ishaq Dar, Muhammad Aurangzeb, Ahsan Iqbal, Sardar Awais Leghari, Ali Pervaiz Malik, Attaullah Tarar, and Musadik Masood Malik.