Pakistan offers Bangladesh support to tackle global energy crisis

Pakistan has offered to share its experience in managing the global energy crisis with Bangladesh as both countries explore ways to overcome fuel supply challenges and strengthen energy security.

The offer was made during a meeting between Petroleum Minister Ali Pervaiz Malik and Bangladesh’s Adviser on Finance Rashid Al Mehmood Titumir on Tuesday. The two sides discussed the impact of global energy market disruptions, rising uncertainty and strategies to ensure uninterrupted fuel supplies.

According to an official press release, Malik briefed the Bangladeshi adviser on Pakistan’s efforts to secure fuel supplies amid challenging international circumstances. He also highlighted government initiatives, including targeted fuel subsidies, aimed at providing relief to consumers while managing the economic impact of the crisis.

Titumir shared Bangladesh’s measures to maintain fuel security and address emerging challenges. He said the ongoing crisis had made energy security a central concern for policymakers and stressed the need to diversify energy sources and supply routes to reduce dependence on vulnerable supply chains.

The Bangladeshi adviser also appreciated Pakistan’s diplomatic efforts to de-escalate tensions involving Iran, saying regional stability was essential for protecting the global economy and energy markets. He particularly acknowledged Pakistan’s efforts to secure liquefied natural gas (LNG) cargoes from Qatar through the Strait of Hormuz despite difficult circumstances.

Describing the situation as an unprecedented energy crisis, Malik emphasised preparedness, diversification and regional cooperation as essential measures to deal with international energy disruptions. He expressed Islamabad’s willingness to share its experience and policy lessons with Dhaka to strengthen its energy security.

Both sides agreed on the importance of continued engagement and cooperation to address shared challenges and improve their ability to withstand future supply disruptions.

Separately, Titumir called for a new development framework for South Asia, urging regional countries to strengthen economic resilience and cooperation in response to growing geopolitical and financial challenges.

Speaking at the annual Sustainable Development Policy Conference a day earlier, he proposed a five-point development strategy focusing on fiscal reforms, industrial transformation, regional production networks, human development and multilateral cooperation.

He argued that traditional fiscal consolidation should be reconsidered, saying governments must preserve their ability to invest in long-term development rather than focus solely on reducing public expenditure.

Titumir also called for shifting from efficiency-driven economic policies towards resilience-based development. He said recent global crises had exposed the weaknesses of systems that prioritised efficiency without building the capacity to withstand disruptions.

On industrial development, he stressed that countries should attract investment capable of creating jobs, transferring technology, developing domestic industries and strengthening economic linkages.

He also proposed greater cooperation between South Asia, Southeast Asia and the Middle East and North Africa to establish stronger regional production networks covering raw materials, intermediate goods and finished products.

The Bangladeshi adviser further emphasised domestic revenue generation, efficient public spending, improved financial management and stronger capital markets as essential elements of economic resilience.

He placed employment and human development at the centre of economic transformation, while calling for stronger international cooperation to address challenges such as climate change, pandemics, financial instability, technological governance and maritime security.

Pakistan’s Climate Change Minister Dr Musadik Malik also raised concerns over debt-driven economic growth, saying debt servicing was consuming nearly half of the country’s revenues.