Islamabad, July 16,2026: Prime Minister Shehbaz Sharif on Thursday warned that escalating tensions in the Middle East following the recent US-Iran conflict could negatively affect Pakistan’s economy and directed authorities to prepare a comprehensive contingency plan to address any emerging challenges.
Chairing a high-level meeting to review the economic impact of the regional situation and assess reports on austerity and cost-saving measures, the prime minister said uncertainty in the region continued to persist and called for heightened preparedness.
According to the Prime Minister’s Office, Shehbaz observed that while Pakistan’s economy was currently stable, the worsening regional security environment could have adverse economic consequences in the future.
He instructed all relevant authorities to remain fully prepared and directed the formulation of a comprehensive contingency plan to enable timely and effective responses to any potential disruptions.
The prime minister appreciated the public for their wholehearted support during the government’s previous austerity and energy conservation campaign, thanking citizens for their cooperation in helping manage the country’s fuel resources.
He also praised the nation’s active participation in fuel and energy conservation efforts, saying the government’s timely strategy had ensured efficient management of petroleum supplies during recent regional instability.
Shehbaz said the government had safeguarded the interests of ordinary citizens, including motorcycle riders, rickshaw drivers and transport operators, while subsidies had helped cushion the impact of rising fuel prices on the public.
The prime minister further directed authorities, in coordination with provincial governments, to take strict action against anyone involved in creating artificial shortages of petroleum products.
During the meeting, officials informed the prime minister that Pakistan currently possessed sufficient petroleum reserves to meet national requirements and that arrangements had been made to ensure uninterrupted fuel supplies in the coming weeks.
The meeting was attended by Federal Ministers Ahsan Iqbal, Muhammad Aurangzeb, Ali Pervaiz Malik and Awais Khan Leghari, Minister of State Bilal Azhar Kayani, Special Assistant to the Prime Minister Tariq Bajwa, State Bank Governor Jameel Ahmad and other senior government officials.
