Prime Minister Shehbaz chairs a meeting on austerity measures. PHOTO: SCREENSHOT
ISLAMABAD:
A high-level meeting was held in Islamabad on Wednesday to discuss escalating tensions in the region and its implications for Pakistan’s national security, in the presence of key political leaders and federal ministers.
The meeting, chaired by Prime Minister Muhammad Shehbaz Sharif, was attended by Pakistan People’s Party Chairman Bilawal Bhutto Zardari, Sindh Chief Minister Murad Ali Shah and Balochistan Chief Minister Sardar Yar Muhammad Rind. A delegation of government ministers also accompanied the prime minister, sources said.
The officials discussed measures taken in response to the tense security environment in the region and ongoing efforts to safeguard Pakistan’s interests. The country’s domestic political situation was also a key topic of discussion.
US-Israeli conflict with Iran escalates
This meeting comes as tensions in the Middle East continue to escalate, particularly between Iran and Israel. Iran’s military has publicly rejected US President Donald Trump’s claims that negotiations to end hostilities were underway, with Tehran’s armed forces saying Washington was “negotiating with itself” amid increasing airstrikes and counterattacks.
Read: Iran rejects Trump’s claims on negotiations as Israeli-Iranian airstrikes intensify
The conflict, which has now lasted several weeks, has been marked by repeated exchanges of airstrikes between Iranian forces and Israeli military assets. Iranian leaders have repeatedly rejected reports of negotiations with the United States and have shown resistance to negotiating efforts in the absence of meaningful concessions.
This volatility has severely disrupted global energy markets and contributed to sharp swings in oil prices, with the closure or threat of closure of strategic shipping routes such as the Strait of Hormuz sending shockwaves through global fuel supply chains.
The fuel supply is “secure”
Amid wider regional unrest, Pakistan’s finance ministry said the country had “largely secured” oil shipments for March and April, even as global supply chains remain strained.
Learn more: Finance Ministry says Pakistan has ‘largely secured’ oil shipments for March and April
A high-level committee monitoring oil prices reviewed the energy supply situation and was informed that incoming shipments were on schedule, with additional cargoes planned to bolster supply reserves.
The government raised gasoline and diesel prices earlier this month in response to disruptions linked to the Middle East conflict, but officials say supplies are stable and road distribution networks are operating normally.
Finance Minister Muhammad Aurangzeb stressed the importance of proactive planning and diversified sourcing strategies to maintain market stability. Authorities have been instructed to continue to closely monitor international developments and domestic stock levels to guard against supply disruptions.
