Prime Minister Shehbaz Sharif announced austerity measures during his address to the nation regarding the current regional situation. The Prime Minister stated that Pakistan deeply expresses its grief over the martyrdom of Iranian Supreme Leader Ayatollah Seyyed Ali Khamenei and his family, and strongly condemns the Israeli attacks on Iran.
Prime Minister Shehbaz Sharif also condemned the attacks on Saudi Arabia, Kuwait, Qatar, Bahrain, and other countries. He said that the attacks on Gulf countries pose severe threats to regional peace, and Pakistan stands shoulder to shoulder with these nations in this testing time, considering their security as part of its own security.
In his address, Prime Minister Shehbaz Sharif stated that the price of crude oil in the global market has surged from $60 to exceeding $100, and our economy heavily relies on oil and gas coming from the Gulf. The Prime Minister stated that keeping the current global situation in view, Pakistan has made difficult decisions. He noted that the pricing of oil and gas in the global market is not within Pakistan’s control, and the government has made tough decisions to mitigate the energy crisis.
Shehbaz Sharif further stated that the government is making every possible effort to keep the economy stable despite the difficult circumstances. He added that increasing oil prices was a difficult decision made with a heavy heart; his mind told him there was no option other than raising oil prices, but his heart worried that the increase might add to the burden on the poor masses.
