Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Pakistan unveils sweeping austerity measures as fuel prices soar

Oil shock: Pakistan unveils sweeping austerity measure

Pakistan unveils sweeping austerity measures as fuel prices soar

Pakistan has implemented a comprehensive fuel-conservation and austerity strategy in response to soaring energy costs caused by the Middle East conflict. Key measures include early closures of shops, markets, and malls by 9pm, with restaurants and eateries allowed to operate until 11pm. The government has reduced fuel allocations for official vehicles by 50% for three months, while exemptions are provided for essential services such as hospitals, pharmacies, and fuel stations.

Foreign travel by federal officials is severely restricted, with trips limited to economy class where possible. Other restrictions include curbs on government purchases of vehicles and durable goods, as well as a 5% reduction in non-essential recurring expenditure for the upcoming fiscal year. To mitigate the impact on consumers, Pakistan has introduced a nationwide Rs100-per-litre fuel relief for motorcycles, rickshaws, and cars up to 800cc.

Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at gulfnews.com →

More in Finance & Markets

More from Thursday 17 September →