Austerity Measures in Pakistan: Salary Cuts Amid Fuel Crisis

Pakistan's Prime Minister Shehbaz Sharif has approved salary deductions from 5% to 30% for employees of state-owned enterprises as part of austerity measures. The decision aims to address the economic impact of a fuel crisis exacerbated by geopolitical tensions. Additional measures include reduced fuel allocations and a ban on new government purchases.

In a bid to tackle the economic fallout from the ongoing geopolitical tensions, Pakistan's Prime Minister Shehbaz Sharif has sanctioned salary cuts ranging from 5% to 30% for workers in state-owned enterprises and autonomous institutions.

This decision stems from a broader austerity drive initiated to mitigate the impacts of the fuel crisis, spurred by the US-Israel-Iran conflict.

Additional strategies to curb expenses include halving fuel allocations for official vehicles and a ban on new governmental acquisitions. The plan, reviewed at a high-level meeting, aims to divert savings toward public relief and welfare initiatives.

(With inputs from agencies.)