PM chairs meeting on steps to maintain economic stability amid regional tensions

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday chaired a high-level meeting to review measures aimed at maintaining economic stability in Pakistan in light of the evolving regional situation, ARY News reported.

According to reports, during the meeting, the prime minister was given a detailed briefing on the potential economic impact of the recent regional tensions. Officials noted that the current geopolitical developments could have implications for Pakistan’s economy, underscoring the need for timely and proactive policy measures.

The prime minister said the government was closely monitoring the global situation and stressed that prompt steps were essential to safeguard economic stability in Pakistan.

He directed the federal cabinet, elected representatives at both federal and provincial levels, and senior government officials to play an active role in ensuring relief for the public and the effective use of national resources.

Shehbaz Sharif also instructed ministers and government employees to adopt simplicity and austerity during the current challenging period, emphasizing the need for prudent use of national resources.

However, he clarified that austerity measures would not apply to the industrial and agricultural sectors, noting that the goal was to ensure that domestic production, exports and food security in Pakistan remain unaffected.

The prime minister said the burden of austerity and savings should be shared fairly across society, adding that privileged and affluent segments should set an example by accepting necessary adjustments.

Officials informed the meeting that the country currently has adequate stocks of diesel, petrol and other petroleum products. They added that the government has already made advance arrangements to deal with any potential emergency situation.

The meeting also emphasized the importance of efficient energy management and careful use of fuel.

Several proposals and recommendations related to austerity and savings were presented during the session, while officials said a formal announcement of the final strategy would be made on Monday.

The prime minister reiterated that once the difficult phase passes and the economy stabilizes, the government will be in a better position to provide greater relief to the people of Pakistan.