Prime Minister Shehbaz calls for preparedness amid US-Iran tensions and warns of economic consequences

Prime Minister Shehbaz Sharif on Thursday expressed concern over the recent rise in tensions between the United States and Iran and warned that the national economy could again be affected by the negative impact of the escalating regional situation.

The remarks came as the prime minister chaired a meeting to review the impact of regional tensions on the country’s economy, as well as austerity and austerity measures amid the latest conflict.

According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz directed the relevant authorities to maintain full readiness to address any possible challenge as uncertainty remains in the regional situation.

At the meeting, the Prime Minister said the public had played a full part in the previous austerity and austerity campaign, for which he was “wholeheartedly grateful”.

“By the grace and mercy of Allah, the national economy is stable; a comprehensive action plan should be drawn up for timely measures if necessary,” the statement quoted the prime minister as saying.

Read: FO urges restraint as US-Iran tensions continue, says diplomacy remains only path to peace

He also commended the public for their cooperation in the national campaign to conserve petroleum products and energy while expressing satisfaction with the country’s fuel supply.

“Through timely and effective government strategy, the fuel supply situation in the country has been managed in the best possible way,” he said, adding that the government had protected the common man, motorcyclists, rickshaw drivers and transporters.

The prime minister further said that as a result of the subsidy from the government, the effects of the increase in fuel prices had been effectively controlled.

He directed the authorities in collaboration with the provincial governments to take strict action against those creating artificial scarcity of petroleum products.

However, in light of the renewed tensions in the region, the prime minister warned that the national economy could be affected in the future due to the negative impact of the escalating situation.

He expressed hope that the public would give the same support as it did during the previous austerity campaign, adding that cost-cutting measures should be adopted at national level in the same way.

Also read: US Vice President Vance criticizes Israel’s efforts to thwart peace talks with Iran

The meeting was informed that adequate reserves of petroleum products were available in accordance with national requirements and measures had been taken to ensure future supplies.

The meeting was attended by Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervez Malik and Awais Khan Laghari, Foreign Minister Bilal Azhar Kiani, Special Assistant Tariq Bajwa, State Bank Governor Jameel Ahmad and senior officials.