PM Shehbaz says govt prepared to face any situation amid global tensions

Prime Minister Shehbaz Sharif said on Monday that the government was prepared to face any situation arising from the ongoing global tensions following the United States and Israel’s attacks on Iran.

The meeting was held in the wake of the recent crisis triggered by disruptions in oil supply following the closure of the Strait of Hormuz. Last week, to cope with the situation, PM Shehbaz announced a four-day work week and a work-from-home policy as part of wide-ranging austerity measures.

The prime minister chaired a review meeting today regarding the enforcement of austerity and relief measures, as well as the conservation and management of petroleum reserves in light of the emerging regional situation.

PM Shehbaz told participants that, given the current global circumstances, consultations were underway regarding additional measures to provide relief to the public. He added that due to the government’s timely decisions, an adequate quantity of petroleum products was currently available in the country.

He said that considering the fluctuating global situation, the timely decisions taken by the committee formed to maintain economic stability had ensured the continuous supply of petroleum products to the public.

The premier said that economic stability and the provision of relief to the public remained the government’s top priorities. He added that all measures were being taken not only to provide immediate relief but also to ensure long-term economic stability.

The prime minister directed petroleum distribution companies to ensure the sale of petroleum products at government-determined prices and to maintain transparency in the process.

He further said that national-level austerity and savings measures had already been implemented and that additional initiatives were under consideration. He added that directives were also issued for a third-party audit to ensure the implementation of all these decisions.

The prime minister was briefed on the country’s existing oil reserves, the import of petroleum products to meet local demand and measures being taken to provide relief to the public under the current circumstances.

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The meeting’s members were informed that the government was continuously monitoring the sale of petroleum products at fixed prices.

Participants of the meeting also appreciated the prime minister’s decision last Friday not to further increase petroleum prices.