- High-level huddle reviews economy, energy amid oil disruptions.
- Ministers outline steps to stabilise fuel prices, curb inflation.
- Pakistan steps up mediation efforts to ease US-Iran tensions.
Top civil-military leadership endorsed a unified policy approach through consensus and institutional coordination to protect Pakistan’s security, economy and food supply amid evolving regional challenges triggered by the US-Israel war on Iran.
The statement came following a high-level consultative meeting chaired by President Asif Ali Zardari at Aiwan-e-Sadr on Thursday to review the evolving economic and energy situation in the backdrop of oil supply constraints and rising petroleum prices, alongside regional security developments.
Prime Minister Shehbaz Sharif and Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir also attended the meeting.
Other participants included Deputy Prime Minister Senator Ishaq Dar, Pakistan Peoples Party (PPP) Chairman and ex-foreign minister Bilawal Bhutto Zardari, federal ministers Mohsin Naqvi, Muhammad Aurangzeb, Ali Pervaiz Malik, Ahad Khan Cheema and secretary finance.
The meeting reviewed the impact of fluctuations in global oil and gas supplies and prices on Pakistan’s economy, with particular focus on managing inflationary pressures and ensuring energy security, the President’s House said in a statement.
Finance and petroleum ministers briefed the meeting on ongoing measures to stabilise petroleum prices, manage the effects of rising fuel costs on other sectors of the economy and enforce fiscal discipline through austerity measures to reduce expenditure pressures.
The broader regional situation also came under discussion, including its implications for Pakistan’s security, economic outlook and food security.
The meeting emphasised the need for a coordinated national response, noting that policy decisions must prioritise stability while safeguarding the interests of the public.
The meeting underscored the importance of maintaining national consensus and strengthening institutional coordination in view of emerging regional challenges.
It was agreed that economic management, energy planning, food security and broader security considerations must remain closely aligned to meet this challenging situation.
The meeting also emphasised the need for public awareness to reduce fuel consumption, encourage the use of public transportation and promote shared ride systems.
The risk of a prolonged war in Iran spilling over into Pakistan remains one of Islamabad’s foremost strategic concerns.
On the economic front, Pakistan has begun to feel the strain of fuel supply disruptions linked to the Iran war, which was triggered by US-Israel actions on February 28.
At the same time, Pakistan has stepped up diplomatic efforts to prevent further escalation, positioning itself as a key intermediary between Washington and Tehran.
