Shehbaz Economic Action Plan Ordered Amid Global Uncertainty
Prime Minister Shehbaz Sharif has ordered a Shehbaz action plan to address growing economic uncertainty. He chaired a high-level meeting on Saturday to review Pakistan’s economic situation. Officials discussed global tensions and their possible impact on the country’s economy. The government wants quick and practical solutions. Therefore, the prime minister asked a special committee to prepare an economic response strategy.
Government Forms Committee to Review Economic Risks
The government formed the committee last week. Its main goal is to assess the economic impact of tensions in the Middle East. Officials already started working on proposals. For example, they reviewed supply risks for fuel and energy products. So far, the committee has helped prevent petroleum shortages. Authorities confirmed that fuel supplies remain stable across the country. However, global developments continue to create uncertainty. As a result, the government wants stronger planning and rapid responses.
Fuel Prices Rise Amid Global Oil Pressure
Pakistan recently increased petroleum prices after reviewing global market trends. The government raised petrol and diesel prices by Rs55 per litre. Consequently, petrol now costs Rs321.17 per litre, while diesel stands at Rs335.86 per litre. International energy prices remain volatile. For instance, rising tensions linked to the US-Israel-Iran tensions have disrupted oil supply expectations.
Because of this situation, many countries face higher energy costs. Pakistan is also adjusting domestic prices to manage the impact. Officials said they passed only a minimum burden to consumers. However, global trends still influence local fuel rates.
Government Warns Against Hoarding
Prime Minister Shehbaz issued strict instructions regarding fuel supply. He warned companies and petrol pumps against creating artificial shortages. Any business involved in hoarding will face immediate action. Authorities may cancel licences and take legal measures against violators. In addition, the prime minister directed ministers to visit all four provinces. These visits will help coordinate fuel management with provincial governments. The goal is simple. Pakistan must reduce unnecessary fuel consumption while maintaining steady supply.
Petroleum Reserves Remain Stable
Despite global uncertainty, officials shared encouraging news. Pakistan currently holds sufficient petroleum reserves. Therefore, the country can manage short term disruptions in global markets. Still, the government remains cautious. The prime minister asked the committee to submit practical proposals within 48 hours. These recommendations will shape the Shehbaz action plan aimed at stabilizing the economy during a volatile global period.
