PM Shehbaz warns renewed US-Iran conflict could hit economy again

Prime Minister Shehbaz Sharif has issued a stark warning regarding the potential economic repercussions for Pakistan stemming from escalating tensions in the Middle East. The premier stressed the importance of remaining fully prepared to navigate any challenges that may arise from the recent US-Iran exchanges.

Presiding over a meeting to assess the impact of regional instability on Pakistan's economy, Sharif directed relevant authorities to formulate a comprehensive contingency plan. He noted that while the country's economy is currently stable, the "uncertainty in the region persists." The prime minister also commended the public's support for national austerity and conservation efforts, highlighting the government's effective management of fuel supply and protection of ordinary citizens and transport operators.

During the meeting, officials confirmed sufficient petroleum reserves and arrangements for uninterrupted future supplies. Sharif emphasized that the government's timely strategies had mitigated the impact of fuel price increases through subsidies. He also called for strict action, in coordination with provincial governments, against those creating artificial shortages of petroleum products. The prime minister reiterated his warning that "escalating regional tensions could adversely affect Pakistan’s economy in the future" and underscored the necessity of preparedness.

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escalating regional tensions could adversely affect Pakistan’s economy in the future