ISLAMABAD(National Times)- The federal government on Tuesday said it would not be holding the Pakistan Day parade and ceremonial events this year due to “austerity measures” linked to the Gulf crisis. Pakistan Day is held every year on March 23 — a public holiday — and is marked with parades, military flypasts, and cultural events across the country. But “in the backdrop of the ongoing Gulf oil crisis and the consequent austerity measures announced by the government, it has been decided that the Pakistan Day Parade and associated ceremonial events shall not be held” next Monday, a statement issued by the PM Office said. Instead, the day will be marked with “dignity and reverence through a simple flag hoisting ceremony”, it added. The decision, it added, was taken in line with broader belt-tightening measures announced by PM Shehbaz last week, including cutting the working week for government employees to four days, imposing work-from-home rules and shutting schools to save fuel. Pakistan depends on oil and gas from the Gulf, and vessels transporting fuel were given naval escorts last week to ensure continuity of supplies during the Middle East crisis. Rising oil prices have forced fuel prices to shoot up at the pump in Pakistan, while the attacks have seen some 4,000 people, including students, to return from neighbouring Iran. Separately, PM Shehbaz chaired a high-level meeting to review implementation of fuel conservation and austerity measures. During the meeting, the prime minister directed the petroleum minister to further enhance efforts to improve Pakistan’s petroleum import supply chain, read a statement issued by the PM Office. He stressed that all relevant institutions should remain prepared for emergency measures until the situation improved. The meeting was apprised that implementation of the prime minister’s directives was being ensured. The meeting was further informed that the entire situation was being closely monitored and records of petroleum products were being maintained to immediately identify any irregularity.On Monday, a meeting held by the finance minister noted overall stock levels and scheduled imports indicated the country has “comfortable inventories of crude oil and key petroleum products for March, with sufficient planning in place to ensure continued availability during April”.