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 read.

Instead, the day will be marked with "dignity and reverence through a simple flag hoisting ceremony", Prime Minister Shehbaz Sharif's office said.

The decision, it added, was taken in line with broader belt-tightening measures announced by Sharif 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.

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".

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APRIL