Minister for Defence Khawaja Muhammad Asif has asked nation, especially traders’ community, to adopt austerity measures as a cultural norm to reduce wastage of fuel and electricity amid soaring economic challenges.

He was sepaking at a joint press conference flanked by Minister of State for Petroleum Division Senator Musadik Masood Malik, Minister for Kashmir Affairs and Gilgit Baltistan Qamar Zaman Kaira, and Minister for Communications and Postal Services Maulana Asad Mehmood.

Defence Minister urged the nation to support the government for achieving normalcy through hard economic decisions.

He asked the traders to must accept new timings of closure decided by the federal cabinet to reduce electricity consumption and fuel usage which would benefit the common masses.

Defence Minister said due to Ukraine war fuel prices have been risen at global level and countries with fewer resources are directly affected due to global inflation.

Speaking on the occasion, Minister of State for Petroleum Musadik Malik said coalition government has taken difficult decision to increase the fuel prices in the context of national security.

Adviser to Prime Minister on Kashmir Affairs and Gilgit-Baltistan Qamar Zaman Kaira said the country may head towards default in case government did not increase the fuel prices.

He said government is providing targeted subsidy to save poor segment of the society from the impact of rising fuel prices.

Minister for Communication Maulana Asad Mehmood said the government is working on emergency basis to stabilize the country's economy and it is committed to raise the living standard of common man.