Prime Minister (PM) Shehbaz Sharif has warned that oil prices may rise further in the coming days as the war in the Middle East rages on, prompting the government to take measures to stabilise Pakistan’s economy. 

Addressing the nation, the prime minister said that the government was making efforts to keep the economy stable despite the evolving situation.

He also announced that funds saved through recently introduced austerity measures will be used to provide relief to the public.

Meanwhile, the provincial governments of Punjab, Khyber Pakhtunkhwa (KP) and Balochistan have also announced key decisions aimed at tackling the energy crisis and managing the potential impact of rising fuel prices.

On the other hand, a meeting of the Sindh cabinet is scheduled to take place today, where important decisions are expected to be taken regarding the situation.

The premier had earlier unveiled a series of austerity measures during a national address in response to the current regional developments and their possible economic consequences for Pakistan.