In Islamabad, Shehbaz Sharif urged federal and provincial governments to act jointly. He stressed urgent relief measures amid a global oil crisis triggered by the US-Israeli war on Iran. Citizens and industries face rising fuel costs and economic pressure nationwide.
The prime minister addressed a high-level meeting attended by top civil and military leadership. He called for smarter resource use and reduced development spending across provinces. Additionally, he emphasised investing more in agriculture, public goods, and transport sectors.
Read more: PM Shehbaz Chairs High-Level Meeting on Energy Crisis
He warned that Pakistan faces severe economic strain due to the ongoing conflict. Although macroeconomic stability had improved, new challenges now threaten growth and recovery. Therefore, the government must reset priorities to protect vulnerable populations and stabilise the economy.
Moreover, he highlighted efforts to maintain critical supply routes through the Strait of Hormuz. He said diplomatic coordination ensured safe passage for Pakistani vessels carrying essential goods. Recently, authorities arranged movement for 20 additional ships, improving supply chain stability.
Read more: Pakistan pushes for regional ceasefire efforts
The government also implemented austerity measures to manage the crisis effectively. Officials passed on a Rs55 increase in petroleum prices after consultations with provinces. Furthermore, the Centre contributed Rs129 billion and cut Rs100 billion from development spending. Authorities plan continued coordination to minimise long-term economic impact.