Prime Minister Shehbaz chairs a meeting on austerity measures. PHOTO: SCREENGRAB
ISLAMABAD:
A high-level meeting was held in Islamabad on Wednesday to discuss the region’s escalating tensions and its implications for Pakistan’s national security, with key political leaders and federal ministers in attendance.
The meeting, chaired by Prime Minister Muhammad Shehbaz Sharif, was attended by Pakistan People’s Party Chairman Bilawal Bhutto Zardari, Sindh Chief Minister Murad Ali Shah and Balochistan Chief Minister Sardar Yar Muhammad Rind. A delegation of government ministers also accompanied the prime minister, according to sources.
Officials discussed measures taken in response to the region’s tense security environment and ongoing efforts to protect Pakistan’s interests. The country’s internal political situation was also a central topic of discussion.
The US-Israel conflict with Iran is escalating
The meeting comes as tensions in the Middle East continue to intensify, particularly between Iran and Israel. Iran’s military has publicly rejected claims by US President Donald Trump that talks to end hostilities are underway, and Tehran’s armed forces say Washington is effectively “negotiating with itself” amid an increase in airstrikes and counterstrikes.
Read: Iran rejects Trump’s demands for talks as Israel-Iran airstrikes intensify
The conflict, now weeks old, has seen repeated exchanges of airstrikes between Iranian forces and Israeli military assets. Iran’s leaders have repeatedly dismissed reports of negotiations with the United States and have shown resistance to negotiation efforts in the absence of significant concessions.
This volatility has severely disrupted global energy markets and contributed to sharp swings in oil prices, as the closure or threat of closure of strategic shipping lanes such as the Strait of Hormuz has sent shockwaves through global fuel supply chains.
Petrol supplies ‘secured’
Amid the wider regional unrest, Pakistan’s finance ministry has said the country has “largely secured” petrol cargoes for March and April, even as global supply chains remain strained.
Read more: Finance Ministry says Pakistan has ‘largely secured’ petrol cargoes for March and April
A high-level committee that monitors petrol prices reviewed the energy supply situation and was told that inbound shipments are on schedule, with additional cargoes planned to bolster supply buffers.
The government raised petrol and diesel prices earlier this month in response to disruptions linked to the Middle East conflict, but officials say supplies are stable and the main road distribution network is operating normally.
Finance Minister Muhammad Aurangzeb emphasized the importance of proactive planning and diversified procurement strategies to maintain market stability. Authorities have been instructed to continue vigilant monitoring of international developments and domestic stockpiles to guard against supply disruptions.
