PM Shehbaz calls for preparedness amid US-Iran tensions, warns of economic impact

Prime Minister Shehbaz Sharif on Thursday expressed concern over the recent rise in tensions between the United States and Iran, warning that the national economy could again be affected by the negative impact of the escalating regional situation.

The remarks came as the prime minister chaired a meeting to review the impact of regional tensions on the country’s economy, as well as austerity and thrift measures amid the recent conflict.

According to a statement issued by the Prime Minister’s Office, PM Shehbaz directed the relevant authorities to maintain complete preparedness to address every possible challenge as uncertainty persists in the regional situation.

Speaking at the meeting, the prime minister said the public had played a full role in the previous austerity and thrift campaign, for which he was “wholeheartedly grateful”.

“By the grace and mercy of Allah, the national economy is stable; a comprehensive plan of action should be prepared for timely measures if needed,” the statement quoted the prime minister as saying.

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He also praised the public for their cooperation in the national campaign to conserve petroleum products and energy, while expressing satisfaction over the country’s fuel supply.

“Through timely and effective government strategy, the fuel supply situation in the country has been managed in the best possible manner,” he said, adding that the government had protected the common man, motorcyclists, rickshaw drivers and transporters.

The prime minister further said that, as a result of the subsidy provided by the government, the effects of the increase in fuel prices had been effectively controlled.

He directed the authorities, in collaboration with the provincial governments, to take strict action against those creating artificial shortages of petroleum products.

However, in view of the renewed tensions in the region, the premier warned that the national economy could be affected in the future due to the negative impact of the escalating situation.

He expressed hope that the public would extend the same support as it did during the previous austerity campaign, adding that cost-cutting measures should be adopted at the national level in the same manner.

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The meeting was informed that adequate reserves of petroleum products were available in line with national requirements and that arrangements had been made to ensure future supplies.

The meeting was attended by 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 senior government officials.