Prime Minister Shehbaz Sharif stated that Pakistan has exerted maximum efforts to secure a ceasefire in the ongoing regional conflict, while cautioning that the war’s economic and humanitarian repercussions are compelling difficult policy decisions domestically.
Expressing profound sorrow over the loss of lives, the premier emphasized Islamabad’s active engagement with Iranian officials and other key stakeholders to help ease tensions. He noted that Deputy Prime Minister Ishaq Dar continues diplomatic initiatives aimed at resolving the conflict, with Pakistan collaborating alongside other affected nations.
Shehbaz Sharif highlighted that both the government and military have ensured the safe arrival of vessels to Pakistan, including facilitating the transit of 20 Pakistani-flagged ships through the strategically crucial Strait of Hormuz. Efforts to de-escalate the situation remain ongoing.
In response to mounting economic pressures, the prime minister announced substantial austerity measures. These include cuts to the development budget and a reduction of Rs100 billion from the Public Sector Development Programme (PSDP) over the last three weeks. The funds saved will be redirected to protect low-income groups, focusing on shielding vulnerable communities from the impact of rising costs.
In a symbolic gesture, members of parliament have been asked to forgo two months’ salaries, while federal and provincial governments will suspend certain development projects to conserve resources. Shehbaz Sharif stressed the importance of sharing the burden equitably, urging the elite to make sacrifices while prioritizing relief for the poor.
He also emphasized the need to protect vital sectors such as agriculture and expressed gratitude to President Asif Ali Zardari and Bilawal Bhutto Zardari for backing the government’s austerity efforts. The prime minister conveyed optimism that peace will eventually be restored in the region, underscoring that political stability is crucial for achieving long-term economic recovery.
