{
  "id": 8604330,
  "title": "FPCCI member terms austerity ‘economic curfew’",
  "url": "https://urgent.news/2026/09/20/fpcci-member-terms-austerity-economic-curfew",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-20T03:51:32.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2031260/fpcci-member-terms-austerity-economic-curfew"
  },
  "original_language": "en",
  "account": "Hyderabad - The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has dismissed the government's austerity measures as an \"economic curfew,\" while failing to address wasteful spending. Adeel Siddiqui, an FPCCI Executive Committee member, stated that the recent cuts, including a 50% reduction in petrol allocation for government vehicles, a ban on new vehicle purchases, and restrictions on foreign travel and business-related expenses, may look effective on television but are disconnected from reality. These measures do not consider the actual fuel consumption, as trucks and supply chains operate around the clock, and markets and weddings continue functioning 24/7.\n\nSiddiqui further pointed out that the government's restrictions on menu pricing would not lead to fuel savings, as catering services are not petroleum products. He questioned how restricting menu options could reduce Pakistan's oil import bill when fuel consumption is significant in freight, agriculture, and industrial production. The FPCCI Executive Committee member stressed that the 50% cut in government petrol consumption was minimal, as government vehicles account for only a small fraction of total consumption. Similarly, the 5% reduction in non-essential government spending was considered symbolic, as Rs1,071 billion in federal government spending remained untouched.\n\nSiddiqui highlighted the shocking financial losses in state-owned enterprises (SOEs), which included losses of Rs60bn by Pakistan Railways, Rs295bn by the National Highway Authority, Rs113bn by QESCO, and Rs93bn by Pesco. If the government were to cut 10% from the Rs2,078bn spent on supporting loss-making SOEs, it could save Rs200bn, providing meaningful relief to millions of people. He demanded a 10% cut in the Rs2,078bn financial support for these SOEs, which would save Rs200bn for the national exchequer.\n\nMoreover, Siddiqui called for the removal or drastic reduction of the Rs105 per litre petroleum levy, which is the principal component of the retail fuel price. He urged the government to offer targeted fuel subsidies to commercial transporters, whose freight costs directly influence the prices of essential goods. Lastly, he advocated for suspending daily fuel pricing to enable businesses to plan logistical costs more effectively. Siddiqui urged the prime minister to cease announcing symbolic austerity measures and to convene an emergency economic council with business leaders, transporters, and energy experts to devise a plan to reduce Pakistan's dependence on imported fuel.",
  "summary": "HYDERABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has criticised the government’s austerity measures , describing them as an “economic curfew” imposed on people while wasteful spending remained untouched. In a statement issued on Saturday, Adeel Siddiqui, an Executive Committee member of the FPCCI, said the prime minister had approved a 50 per cent cut in petrol…",
  "key_points": [
    "FPCCI dismisses government austerity as \"economic curfew\"",
    "Adeel Siddiqui criticizes cuts without addressing wasteful spending",
    "Calls for 10% cut in SOE financial support and targeted fuel subsidies"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}