High-Level huddle at President House reviews economic, energy and security situation amid Mideast war

President Asif Ali Zardari chaired a high-level consultative meeting at the Presidential House on Thursday which was attended by Prime Minister Shehbaz Sharif and Field Marshal General Asim Munir and Chairman Joint Chiefs. 

The other participants include Deputy Prime Minister Senator Ishaq Dar, Chairman PPP Bilawal Bhutto Zardari, Federal Interior Minister Senator Mohsin Raza Naqvi, Federal Finance Minister Senator Muhammad Aurangzeb, Federal Minister for Energy and Petroleum Ali Pervez Malik, Federal Minister for Economic Affairs Ahad Khan Cheema, and Secretary Finance. 

The high-level consultative meeting was aimed at reviewing the country's economic and energy situation in the context of possible disruptions in oil supply and rising prices of petroleum products and overall security situation amid Iran-US and Israel war. 

During the meeting, detailed briefing was given on measures to control inflation and ensure energy security. It was told that austerity measures were underway to keep petroleum prices stable and reduce costs. 

A review of the impact of the regional situation on Pakistan's security, economy and food security was also made. During the meeting, the emphasis was given on a nationally coordinated strategy and institutional coherence. 

Both sides agreed on making policy decisions keeping in mind the public interests. It was agreed to reduce fuel consumption and promote public transport. It was decided that a public awareness campaign should be launched to promote ride-sharing. The meeting reviewed in detail the impact of global oil and gas supply and price fluctuations on Pakistan's economy, with particular focus on controlling inflationary pressures and ensuring energy security. 

Briefing the meeting, the Finance Minister and the Petroleum Minister highlighted the ongoing measures to maintain fiscal discipline through austerity measures to stabilize the prices of petroleum products, mitigate the impact of rising fuel prices on other sectors, and reduce expenditure. 

 The meeting also considered the broader regional situation, assessing its potential impact on Pakistan’s security, economic prospects and food security. It was emphasized that a coherent national strategy should be adopted, prioritizing stability in policy decisions and ensuring protection of public interests. 

The meeting also emphasized the need to maintain national consensus and further strengthen institutional coherence in the face of emerging regional challenges. It was agreed that it is imperative to keep economic governance, energy planning, food security and security issues interconnected. 

The meeting also emphasized the need to increase public awareness to reduce fuel consumption, promote the use of public transport and encourage shared ride-sharing.

Reporter: Awais Kiyani