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Fuel Prices Up, Salaries Cut: Energy Shock To Pakistan Amid Iran War

Pakistan's Prime Minister Shehbaz Sharif on Monday announced a sweeping austerity and energy-saving plan, saying the steps were necessary as the country confronts a global fuel crisis triggered by the ongoing conflict involving the United States, Israel and Iran. Pakistan, like several other economies, is facing fuel supply disruptions following the closure of the Strait of Hormuz, a critical passage for global energy supplies. The disruption began after Iran retaliated against US bases in the Middle East following joint strikes by the United States and Israel, complicating oil shipments across the region. Amid tightening supplies, Pakistan increased petrol and diesel prices by 20 per cent and rolled out nationwide austerity measures aimed at cutting fuel consumption and government spending. Region "In A State Of War" In a televised address to the nation, Sharif said the wider region had been engulfed in conflict and stressed that Pakistan was working through diploma...
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France Back In Virus Lockdown As Europe Cases Top 10 Million

France entered a new lockdown on Friday as the resurgent coronavirus pandemic increasingly forced other countries to consider following suit, with Europe passing 10 million total infections and the...

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