LAHORE: Prime Minister Shehbaz Sharif chaired an important meeting in Lahore to review the country’s current economic situation and assess the possible impact of rising global tensions on Pakistan’s economy.
The participants were given a detailed briefing on the latest global developments, increasing geopolitical tensions in the region, and their potential effects on the international economy.
This uncertainty, they said, could affect economies around the world, including Pakistan. The briefing mentioned the importance of proactive planning to safeguard the national economy from possible external shocks.
The prime minister directed the concerned authorities to prepare a comprehensive and practical economic strategy in view of the prevailing global situation.
He focused on that the strategy should focus on simplicity, savings, and the efficient use of national resources.
Prime Minister Shehbaz Sharif instructed the relevant committee to present workable proposals within the next 48 hours. The purpose, he said, is to ensure that Pakistan’s economy remains protected from the adverse effects of changing global conditions.
The prime minister stressed that public interest must remain the top priority while formulating any policy. He directed officials to ensure that the financial burden on citizens remains as low as possible and that maximum relief is provided to the public wherever feasible.
The prime minister had already constituted an active committee last week to monitor the economic implications of global tensions. The committee has been continuously reviewing the situation and assessing potential risks across various sectors.
In this sense, timely measures taken by the government have helped ensure uninterrupted supply of petroleum products in the country, preventing any shortages in the domestic market.
The meeting was also told that the recent increase in petroleum prices was made on the recommendation of the same committee. The decision aimed to minimize the transfer of rising international fuel costs to the general public.
Prime Minister Shehbaz Sharif further directed the committee to work more actively and submit proposals that are practical, people-friendly, and beneficial for the national economy.
He also ordered strict action against hoarding and the creation of artificial shortages of petroleum products. The prime minister warned that any petrol pump or company found involved in hoarding or creating artificial scarcity would face immediate action, including cancellation of licenses and legal proceedings.
The prime minister instructed the ministers for finance and petroleum to visit all four provinces and coordinate with provincial governments to develop a comprehensive plan for the efficient use, conservation, and uninterrupted supply of petroleum products.
