Pakistan on Saturday withdrew emergency fuel conservation and austerity measures imposed during the US-Iran conflict, a day after slashing fuel prices by up to Rs74 per liter following a peace agreement between Washington and Tehran that eased pressure on global oil markets. The measures were introduced after the conflict erupted in late February, disrupting energy […]
Austerity
Austerity with compassion
Chief Minister Punjab Maryam Nawaz Sharif has responded to the escalating global economic crisis with one of the most ambitious relief packages in the province’s history – a sweeping intervention that makes public transport free, subsidises farmers and motorcycle owners, and stabilises the logistics sector in a single coordinated move. The package reflects a governing […]
Austerity measures, public relief top priorities: Rana Mashhood
Prime Minister’s Youth Programme (PMYM) Chairman Rana Mashhood Ahmad Khan has said that the government is providing substantial relief to the public by absorbing the financial impact of petroleum price adjustments instead of passing the burden on to consumers. Addressing a ceremony here on Saturday, he said the government had borne a financial burden amounting […]
Austerity Without Reform
In the face of a worsening energy crisis, Pakistan’s leadership has unveiled a familiar menu of austerity measures (a four-day workweek, temporary school closures, rotational work-from-home arrangements, a 50pc cut in fuel allowances for departments, and a reduction in official vehicles on the road). These steps may sound decisive, but they do little to address […]
Austerity, Energy Shocks: Pakistan’s Response and the Limits of Symbolism
As geopolitical tensions once again ripple through global energy markets, oil prices and supply routes have returned to the centre of global economic risk. Even relatively small disruptions in energy supply chains can trigger price spikes that reverberate across economies dependent on imported fuel. For countries like Pakistan, which rely heavily on external energy supplies, […]
Austerity measures put in place as Pakistan braces for ME war fallout
Prime Minister Shehbaz Sharif on Monday announced a host of austerity measures to conserve fuel in view of the global fuel crisis triggered by the US-Israel war on Iran. In his address to the nation, the premier said that a meeting was convened earlier in the day where austerity measures were discussed with the federal […]
AJK government abolishes seven secretary posts
MUZAFFARABAD: The Azad Jammu and Kashmir (AJK) government has abolished seven secretary-level posts as part of administrative reforms aimed at reducing expenditures and improving efficiency. The decision, approved by the cabinet on December 17 last year, aligns with an agreement with the Jammu Kashmir Joint Awami Action Committee calling for austerity measures. Read More: AJK […]
The Austerity Delusion
The recently announced annual budget is one that would clearly be described as austerity-focused, with a view to satisfying the IMF board’s whims so that an already negotiated Extended Fund Facility might be approved and lines of credit to Pakistan might resume. The budget comprises various belt-tightening measures on public expenditures, but there are also […]