PM Shehbaz Sharif warns regional tensions could affect Pakistan’s economy

Prime Minister Shehbaz Sharif has expressed concern over the growing tensions between the United States and Iran, warning that further escalation in the region could create economic challenges for Pakistan. He stated that instability in the surrounding region may have negative consequences for the country’s economy, which has recently shown signs of improvement and stability.

The prime minister made these remarks while chairing a high-level meeting focused on reviewing the possible economic impact of regional developments, ongoing austerity measures, and government strategies to manage challenges arising from the current situation. The meeting examined Pakistan’s preparedness to respond effectively if the regional environment becomes more uncertain.

According to a statement released by the Prime Minister’s Office, PM Shehbaz instructed relevant government departments to remain fully prepared and develop timely strategies to address any potential difficulties. He emphasised the need for continuous monitoring of the situation and proactive measures to protect the country’s economic interests.

During the meeting, the prime minister appreciated the cooperation of the Pakistani public during previous austerity and energy conservation campaigns. He expressed gratitude for the role citizens played in supporting government efforts to reduce unnecessary consumption and manage economic pressures. He said that public cooperation had been essential in helping the country navigate difficult circumstances.

The prime minister stated that Pakistan’s economy was currently stable due to effective policies and collective efforts. However, he stressed the importance of preparing a comprehensive action plan that could be implemented quickly if new challenges emerge due to regional tensions.

PM Shehbaz also highlighted the government’s successful efforts to maintain fuel availability across the country. He praised the public for supporting measures aimed at conserving petroleum products and energy resources. According to him, timely decisions and effective government planning had helped ensure a smooth supply of fuel despite international uncertainties.

He further stated that the government had taken steps to protect ordinary citizens, including motorcyclists, rickshaw drivers, and transport workers, from the impact of rising fuel prices. He noted that financial support and subsidies provided by the government had helped reduce the burden of increased petroleum costs on the general population.

The prime minister directed authorities, in coordination with provincial governments, to take strict action against individuals involved in creating artificial shortages or attempting to exploit market conditions. He emphasised that maintaining stable supplies of essential commodities and preventing illegal price increases remained a government priority.

While expressing satisfaction over the current economic situation, PM Shehbaz warned that continued regional instability could create future risks. He said that conflicts and tensions in neighbouring regions often affect countries through increased energy costs, trade disruptions, and economic uncertainty. Therefore, he encouraged citizens and government institutions to continue supporting responsible spending and conservation measures.

The prime minister expressed confidence that the public would once again cooperate with national efforts, similar to their support during previous austerity campaigns. He called for the adoption of cost-saving measures at both government and individual levels to strengthen economic resilience.

During the meeting, officials briefed the prime minister that Pakistan currently has sufficient petroleum reserves to meet national requirements. They also informed participants that arrangements had been made to ensure uninterrupted future supplies.

The meeting was attended by several senior government officials and ministers, including Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervez Malik, and Awais Khan Laghari. Minister of State Bilal Azhar Kiani, Special Assistant Tariq Bajwa, State Bank Governor Jameel Ahmad, and other senior officials also participated in discussions regarding economic stability and national preparedness.