ISLAMABAD: Prime Minister Shehbaz Sharif on Monday announced austerity measures, including a four-day work week and cuts in government expenditures, to offset the impact of rising global oil prices due to an ongoing conflict in the Middle East. Global fuel supply lines have been disrupted in the Strait of Hormuz, which supplies nearly a fourth of world oil consumption, after Tehran blocked it following United States-Israeli strikes on Iran and counterattacks against US interests in the Gulf region.

ISLAMABAD: Pakistan on Friday increased petrol and diesel prices by Rs55 ($0.20) per liter each as escalating conflict in the Middle East sent global oil prices sharply higher and…

ISLAMABAD: Pakistan’s Punjab province on Saturday warned of action against the ones hoarding petroleum products, while authorities in federal capital of Islamabad sealed seven…