ISLAMABAD, Pakistan – Web Desk: Pakistan’s top leadership convened on Thursday to address rising fuel costs and escalating energy risks amid disruptions in global oil and gas supplies caused by the ongoing Iran conflict.
President Asif Ali Zardari chaired the high-level consultative meeting at Aiwan-e-Sadr, bringing together the country’s senior civil and military officials, including Prime Minister Shehbaz Sharif, Chief of Defence Forces Field Marshal Asim Munir, and key cabinet members. Notable attendees included Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, Interior Minister Mohsin Naqvi, Economic Affairs Minister Ahad Khan Cheema, and PPP leader Bilawal Bhutto Zardari.
The discussions focused on sharp volatility in global energy markets triggered by the Iran war, which has disrupted critical supply routes including the Strait of Hormuz, and intensified pressure on energy-importing economies such as Pakistan. Officials reported that constrained shipments of oil and liquefied natural gas (LNG) have significantly increased import costs, pushing Pakistan’s oil import bill to around $10.71 billion.
Key deliberations included measures to stabilize domestic petroleum prices, mitigate inflationary pressures, and maintain fiscal discipline. Authorities stressed the cascading effects of rising fuel costs on transport, food supply chains, and industrial output, which are contributing to the broader cost-of-living crisis.
The leadership also highlighted the impact of regional security tensions on Pakistan’s economic stability, national security, and food security. A unified and coordinated policy approach was deemed critical to navigate the unfolding crisis.
In addition to policy measures, officials called on citizens to adopt energy-saving practices, rely more on public transportation, and utilize shared mobility solutions to reduce demand pressures. The meeting underscored the importance of public awareness and national consensus to address the ongoing energy and economic challenges.
