Severely dependent on Gulf oil and gas, Pakistan announces a series of austerity measures
Due to the surge in crude oil prices, Pakistani Prime Minister Sharif announced a series of austerity measures aimed at reducing fuel consumption on Monday: the government will implement a four-day workweek per week, promote remote work, schools will extend their holidays, reduce official travel, etc.
On Monday, crude oil prices broke above $100 per barrel for the first time since Russia's invasion of Ukraine in 2022, with prices even surging more than 30% and approaching $120 per barrel.
Pakistan, which is heavily dependent on Gulf oil and gas, raised gasoline retail prices by about 20% last Friday, causing long lines at gas stations in the country. Sharif called the decision "difficult" and said he hopes to avoid further price hikes to ease the burden on the people, as a large portion of Pakistan's population lives in poverty. However, Sharif emphasized in a televised address that action was necessary.
Pakistani Prime Minister Sharif said on Monday that the country's ministers have committed to doing their best to prevent the situation from worsening and have agreed that government departments, except banks, will implement a four-day workweek, with half of the staff working remotely. School holidays will be extended, and after the holidays, classes will be held online. For the next two months, fuel subsidies for official vehicles, except ambulances, will be halved.
In addition, the ministers also approved salary cuts for civil servants, a ban on purchasing new equipment, and reduced official overseas travel.
Last Sunday, Bangladesh, which imports 95% of its oil and gas, implemented a fuel rationing system, causing long queues at gas stations and increasing security due to the unstable situation.
Source: rfi
Original: toutiao.com/article/1859288486180874/
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