ISLAMABAD (MNN); Prime Minister Muhammad Shehbaz Sharif has directed authorities to take immediate steps to safeguard Pakistan’s economy in light of rising regional tensions that could disrupt energy supplies and cause volatility in global markets.
Chairing a high-level meeting in Islamabad, the prime minister reviewed the possible economic repercussions of ongoing international developments and was briefed by senior officials on emerging challenges that could impact the country’s financial stability.
During the meeting, officials informed the premier that geopolitical tensions in the region may affect global energy supply routes and contribute to fluctuations in international oil and commodity prices, which could in turn have implications for Pakistan’s economy.
Addressing the participants, Prime Minister Shehbaz Sharif stressed that the government was closely monitoring the evolving situation and was prepared to take timely decisions to maintain economic stability.
“It is imperative to implement timely and effective measures to ensure economic stability,” the prime minister said, adding that the government would adopt all necessary steps to safeguard the interests of the people.
He emphasised that Pakistan must remain prepared to deal with potential economic shocks arising from global uncertainty, particularly in the energy sector, which plays a critical role in the country’s economic framework.
The prime minister instructed the federal cabinet, parliamentarians, and senior officials at both federal and provincial levels to actively contribute to efforts aimed at providing relief to the public and ensuring prudent management of national resources.
He said coordinated action among all tiers of government would be essential to mitigate the impact of any external economic pressures and to maintain stability in the country’s financial system.
Prime Minister Shehbaz Sharif also called upon government officials and ministers to adopt a policy of simplicity and austerity, urging them to avoid unnecessary expenditures during a period of economic uncertainty.
He stressed that public office holders must lead by example by demonstrating responsible use of public funds and adopting a culture of frugality within government institutions.
Highlighting the importance of social justice, the prime minister said that any economic adjustments required to stabilise the economy should not disproportionately affect lower-income groups.
Instead, he said the burden of economic measures should be shared fairly, particularly by privileged and affluent segments of society who have greater capacity to absorb financial pressures.
“The elite sections of society must come forward and play their role by setting an example of responsibility and sacrifice,” the prime minister remarked.
Officials at the meeting also discussed various options to ensure the availability of essential commodities and maintain stability in energy supply chains in case of disruptions caused by global tensions.
The government is reportedly considering a range of policy responses aimed at cushioning the economy against potential shocks, including measures to ensure energy security and stabilise domestic markets.
Participants also reviewed contingency plans to deal with fluctuations in global fuel prices and the possible impact on inflation and the cost of living.
The high-level meeting was attended by key members of the federal cabinet and senior government officials.
Among those present were Finance Minister Ishaq Dar, Planning Minister Muhammad Aurangzeb, and Interior Minister Ahsan Iqbal.
In addition, chief secretaries from all four provinces and other senior administrative officials participated in the meeting, providing updates on the preparedness of provincial governments to respond to potential economic challenges.
The meeting concluded with the prime minister reiterating the government’s commitment to maintaining economic stability and ensuring that citizens are protected from the adverse effects of global developments.
He emphasised that the government would continue to monitor the situation closely and take all necessary steps to safeguard Pakistan’s economic interests.
