The federal cabinet has decided to give up two months’ salaries to conserve resources and maintain economic stability.
The decision was taken during a meeting on austerity measures chaired by Prime Minister Shehbaz Sharif on Monday.
Finance Minister Muhammad Aurangzeb briefed participants on the need to conserve petroleum products and implement cost-cutting measures across government departments.
Participants also discussed proposals aimed at providing relief to low-income and vulnerable segments of society. The meeting reviewed recommendations focused on reducing government expenditures and promoting simplicity in official spending.
They said the evolving regional situation, they noted, could affect Pakistan’s economy, particularly through disruptions in energy supply and volatility in global commodity prices.
Participants stressed that timely policy measures would be necessary to safeguard economic stability if the situation deteriorates further.
The prime minister emphasized that the government would make every effort to provide maximum relief to the public during the challenging period. He directed cabinet members, elected representatives and senior officials to adopt austerity and ensure efficient use of resources.
However, the meeting decided that austerity and energy-saving measures would not apply to the industrial and agricultural sectors in order to avoid disrupting economic activity and productivity.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.