Pakistan has announced 5 to 30 percent salary cuts for employees of state-owned enterprises amid rising global oil prices. The decision was taken at a meeting chaired by Prime Minister Shehbaz Sharif today.  The country has already begun feeling the economic impact of the conflict in West Asia.

Earlier measures included a 50 percent reduction in fuel allocations for official vehicles for two months, removing 60 percent of government vehicles from the roads during this period, and introducing a four-day work week for government offices. Petroleum prices were increased by 55 rupees per litre last Friday.