Prime Minister Shehbaz Sharif chaired a high-level meeting to review Pakistan’s economic situation in light of rising global tensions and their impact on the region.
The premier directed officials to quickly formulate a practical plan to protect the economy while minimizing the burden on citizens.
During the meeting, Prime Minister Shehbaz Sharif was given a detailed briefing on the recent global tensions and their potential economic impact on the region.
A committee formed to assess the economic consequences of the latest geopolitical developments presented its findings to the prime minister.
Officials also informed the meeting about developments in the energy sector and petroleum supply situation in the country.
Action plan based on savings, simplicity
Prime Minister Sharif directed authorities to prepare a comprehensive plan of action focusing on economic development, simplicity, and savings. He emphasized the need for a strategy that reflects financial discipline and prudent spending, especially in view of growing global economic pressures.
The prime minister instructed the committee to finalize and present actionable recommendations within 48 hours.
Public relief top priority
The premier stressed that the proposed plan should minimize the burden on the public and prioritize maximum relief for citizens. He said government policies must ensure that any economic adjustments are implemented carefully so that ordinary people are protected from excessive financial pressure.
The committee informed the prime minister that there is no shortage of petroleum products in the country. Officials also said that petroleum prices were increased a day earlier based on the committee’s recommendation.
The meeting was told that only the minimum possible burden of the global price increase was transferred to consumers, with the government attempting to shield the public from the full impact.
Strict action against hoarding
Prime Minister Sharif issued strong instructions against artificial shortages and hoarding of petroleum products. He ordered authorities to immediately close any petrol pump or company found creating an artificial shortage.
The premier also directed that the license of such companies should be canceled immediately and legal action taken against them.
The prime minister instructed the federal finance minister and the petroleum minister to visit the provinces and coordinate with provincial governments.
He said a joint strategy should be developed to conserve petroleum products and manage energy consumption efficiently.
Plan for uninterrupted petroleum supply
Prime Minister Sharif further directed officials to prepare a comprehensive plan to ensure uninterrupted supply of petroleum products to the public.
The goal, he said, is to maintain stable fuel availability across the country despite global economic challenges and rising energy prices.
