Pakistan, March 10 -- Prime Minister Shehbaz Sharif on Monday announced a series of austerity and cost-saving measures, warning that Pakistan is facing economic pressure due to the global fuel crisis triggered by the ongoing conflict in the Middle East.

In a televised address from Islamabad, the premier said the escalation of hostilities involving the United States, Israel and Iran has pushed global oil prices sharply higher, creating challenges for countries heavily dependent on energy imports.

"The entire region is currently in a state of war," Sharif said, noting that Pakistan is actively engaging diplomatic channels and working with international partners to support efforts aimed at reducing tensions and restoring stability.

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