Pakistan orders sweeping austerity measures as Iran war triggers oil crisis

"Prime Minister Shehbaz Sharif announced the measures in a televised address to the nation on Monday night, warning that disruptions to maritime traffic in the Strait of Hormuz a vital waterway for traded oil had placed Pakistan's economy under direct threat."

"The entire region is currently in a state of war, Sharif said as he laid out a series of steps, including moving to a four-day workweek for government employees and spring holidays for schools from March 16 to the end of the month."

"The austerity measures also include the federal and provincial cabinet members forgoing their salaries and allowances for the next two months, while salaries of the members of federal and provincial legislatures will see a 25 percent cut during the period."

Pakistan has enacted comprehensive emergency austerity and fuel conservation measures following disruptions to oil and gas supplies caused by the US-Israel conflict with Iran and escalating Middle East tensions. Prime Minister Shehbaz Sharif announced these steps in a televised address, citing threats to the economy from disrupted maritime traffic in the Strait of Hormuz. Government employees will shift to four-day workweeks with 50 percent working from home on rotation. Schools will close for two weeks starting March 16, though examinations continue. Universities move to online classes. Cabinet members forgo salaries for two months, legislators face 25 percent salary cuts, and foreign travel is restricted to essential purposes in economy class. All in-person government meetings are banned, fuel allowances reduced, and social gatherings limited to 200 guests.

Read at www.aljazeera.com