ISLAMABAD - President Asif Ali Zardari chaired a high-level consultative meeting in Islamabad on Thursday to review the evolving economic and energy situation in the backdrop of oil supply constraints, rising petroleum prices, and regional security developments.
The meeting was attended by Prime Minister Shehbaz Sharif and Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir. Deputy Prime Minister Ishaq Dar, Chairman PPP Bilawal Bhutto Zardari, Interior Minister Syed Mohsin Raza Naqvi, Finance Minister Muhammad Aurangzeb, Minister for Energy and Petroleum Ali Pervaiz Malik, Minister for Economic Affairs Ahad Khan Cheema and Secretary Finance also attended the meeting.
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The meeting reviewed the impact of fluctuations in global oil and gas supplies and prices on Pakistan’s economy, with particular focus on managing inflationary pressures and ensuring energy security.
The Ministers for Finance and Petroleum briefed the participants on ongoing measures to stabilise petroleum prices, mitigate the impact of rising fuel costs on various sectors, and enforce fiscal discipline through austerity measures to ease expenditure pressures. The broader regional situation also came under discussion, including its implications for Pakistan’s security, economic outlook, and food security. The meeting emphasised the need for a coordinated national response, noting that policy decisions must prioritise stability while safeguarding public interests.
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The participants underscored the importance of maintaining national consensus and strengthening institutional coordination in view of emerging regional challenges.
It was agreed that economic management, energy planning, food security, and broader security considerations must remain closely aligned to meet this challenging situation. The meeting also emphasised the need for public awareness to reduce fuel consumption, encourage the use of public transportation and promote shared ride systems.