Prime Minister Muhammad Shehbaz Sharif chaired a high-level meeting to review thecountry’s economic situation in light of the prevailing global scenario and recent international tensions.
During the briefing, officials informed the prime minister about the economic implications of ongoing global developments and their potential impact on the region. The meeting discussed measures aimed at safeguarding economic stability and ensuring continuity of essential supplies.
The prime minister directed the formulation of a comprehensive strategy based on austerity and fiscal discipline. He instructed that practicable proposals in this regard be presented within the next 48 hours, emphasizing that the plan must minimize the burden on the public and prioritize relief for citizens.
He noted that a committee had already been formed last week to assess the global economic impact of the current tensions and to prepare recommendations accordingly. Due to the committee’s proactive work, no shortage of petroleum products occurred in the country.
According to the briefing, the recent increase in petroleum prices was made on the committee’s recommendation, ensuring that the minimum possible impact of global price fluctuations was passed on to consumers.
The prime minister directed the committee to further intensify its efforts and submit feasible recommendations at the earliest to facilitate the public. He also ordered strict action against any petrol pump or company found involved in creating artificial shortages or hoarding, including immediate closure, cancellation of licenses, and legal proceedings.
Additionally, the prime minister instructed the Finance Minister and the Petroleum Minister to visit all four provinces and work with provincial governments to develop a coordinated plan for petroleum conservation and uninterrupted supply to the public.
