ISLAMABAD: Prime Minister Shehbaz Sharif has called for coordinated efforts between the federal and provincial governments to protect citizens from the impact of the global oil crisis triggered by the US-Israeli war on Iran.
Addressing a high-level meeting attended by Chief of Defence Forces Asim Munir, provincial chief ministers, and federal ministers, the premier stressed the need to reset national priorities and utilise resources wisely to provide relief to vulnerable segments.
“We must jointly decide our priorities and direct resources towards public welfare, transport, and agriculture,” the prime minister said, urging both Centre and provinces to curtail non-essential development spending and focus on critical sectors.
He acknowledged that Pakistan, like many countries, is being severely impacted by the ongoing conflict, noting that recent economic stability efforts have been undermined by rising global oil prices and supply disruptions.
Economic Pressures and Strategic Measures
The prime minister highlighted government initiatives aimed at cushioning the economic shock, including temporary subsidy measures and austerity steps. He revealed that the Centre had provided a blanket subsidy over three weeks, contributing Rs129 billion, alongside a Rs100 billion cut in the Public Sector Development Programme (PSDP) to manage fiscal pressures.
He also noted that recent increases of Rs55 in petroleum prices were implemented after consultations with provincial leadership.
Ensuring Energy Supply Lines
On supply chain challenges, the premier shared that Pakistani vessels navigating the strategically vital Strait of Hormuz were successfully facilitated through diplomatic efforts led by Deputy Prime Minister Ishaq Dar and military leadership. He added that arrangements have been made for additional vessels, ensuring continuity in fuel imports.
Call for Collective Leadership
Prime Minister Shehbaz Sharif also appreciated the role of political leadership, including Bilawal Bhutto Zardari and Asif Ali Zardari, for supporting national efforts during the crisis.
Emphasizing unity, he concluded that collective decision-making and fiscal discipline are essential for navigating the current challenges and safeguarding both economic stability and public welfare amid an increasingly volatile global energy landscape.
Story by Syed Irfan Raza
