PM Shehbaz says Centre, provinces need to make collective efforts to provide relief amid global oil crisis

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said the Centre and provinces need to set their priorities and make collective efforts to provide relief to the needy amid the global oil crisis triggered by the US-Israeli war on Iran.

He made the remarks while addressing a high-level meeting, attended by Chief of Defence Forces Field Marshal Asim Munir, the chief ministers from all four provinces and federal ministers.

The premier said that the the Centre and provinces should utilise their resources sagaciously and curtail their development projects as much as possible while also utilising their resources on agricultural-related initiatives.

“We have to spend this money on public goods and transport. Now we have to set our priorities jointly,” he added.

He also highlighted the government’s initiatives to protect the economy and the common man from the adverse impact of the global oil crisis.

In his remarks, PM Shehbaz also said that like other countries across the world, Pakistan was “being severely affected by this war”.

He added that after achieving macroeconomic stability, the “time for prosperity and development had arrived but unfortunately, as a result of this war, we are facing unlimited economic difficulties”.

He said two Pakistani vessels that were “waiting to pass through the Strait of Hormuz” were able to do so thanks to the efforts made by Deputy Prime Minister and Foreign Minister Ishaq Dar and CDF Munir.

“In recent days, arrangements were made for 20 more Pakistani-flagged vessels” [to pass through the strait], which will see further progress in the coming days,” he highlighted.

He also recalled that his teams held separate meetings with the chief ministers soon after the conflict sparked, after which it was decided to “pass on” hikes of Rs55 in petroleum prices.

The PM also highlighted the various austerity measures undertaken by the government, especially thanking PPP Chairman Bilawal Bhutto-Zardari for “showing great interest” and calling upon him, as well as President Asif Ali Zardari for holding meetings.

“We gave a blanket cover in these three weeks, and regarding this, the Centre contributed Rs129bn. We made a Rs100bn cut in the Public Sector Development Programme and we added the savings into the account, from which the Centre bore the expenses,” he said.

Provinces to share oil subsidy burden under NFC formula

Petrol, diesel prices to go up further within days

PM Shehbaz says Pakistan successfully addressed demand, supply of essential goods amid regional conflict

Myco is leading TV and streaming rights for PSL 2026 in Pakistan

Chery Tiggo 9 PHEV- Pakistan’s most efficient PHEV, up to 1,400 km combined range and 170 km pure electric.

Lucky Motor Corporation signs strategic and exclusive partnership with GAC Group for Pakistan

Myco is leading TV and streaming rights for PSL 2026 in Pakistan

Chery Tiggo 9 PHEV- Pakistan’s most efficient PHEV, up to 1,400 km combined range and 170 km pure electric.

Lucky Motor Corporation signs strategic and exclusive partnership with GAC Group for Pakistan

Myco is leading TV and streaming rights for PSL 2026 in Pakistan

£190m case: IHC adjourns hearing of Imran, Bushra’s pleas after defence seeks more time

KP govt sets new school timings

Pakistan, China issue 5-point initiative for restoring peace in Middle East

Petrol, diesel prices to go up further within days

Read the full text of Iranian President Masoud Pezeshkian’s letter to the American public

PMD forecasts chances of thunderstorms, rain in Karachi, other parts of Sindh on Thursday

Renowned Peshawar doctor seriously injured in gun attack

Speculation pushes Iranian rial fourfold against rupee

PM Shehbaz says Centre, provinces need to make collective efforts to provide relief amid global oil crisis

‘Dangerous escalation’: 8 Muslim-majority countries, including Pakistan, condemn Israel’s death penalty law

SC halts anti-terrorism court from framing charges against journalist Matiullah Jan

Pakistan in talks with Afghanistan but Kabul must demonstrate ‘visible and verifiable actions’: FO

Power Division seeks World Bank support for new power tariff structure for industrial consumers

PSX tumbles 3,500 points as Trump speech sinks hopes for quick end to war

Crises and institutions

Oil price shock incoming

Education interrupted

Executing Palestinians

ICC Prosecutor Karim Khan Investigating Israel Cleared

Why South Pars and Ras Laffan Matter to Global Energy

Why Netanyahu May Not Want The War To End

Muslims Worldwide Celebrate Eid‑ul‑Fitr Amid Regional Variations and Challenges

Global Markets Slide as War and Oil Shock Drive Volatility

Explainer: How Wars Trigger Global Inflation

Oil Prices Hold Steady Despite Middle East Escalation

ICC Prosecutor Karim Khan Investigating Israel Cleared

Why South Pars and Ras Laffan Matter to Global Energy

Why Netanyahu May Not Want The War To End

Muslims Worldwide Celebrate Eid‑ul‑Fitr Amid Regional Variations and Challenges

Global Markets Slide as War and Oil Shock Drive Volatility

Explainer: How Wars Trigger Global Inflation

Oil Prices Hold Steady Despite Middle East Escalation

ICC Prosecutor Karim Khan Investigating Israel Cleared

Why South Pars and Ras Laffan Matter to Global Energy

Why Netanyahu May Not Want The War To End

Muslims Worldwide Celebrate Eid‑ul‑Fitr Amid Regional Variations and Challenges

Global Markets Slide as War and Oil Shock Drive Volatility

UK to host 35-state moot on reopening of Hormuz Strait

£190m case: IHC adjourns hearing of Imran, Bushra’s pleas after defence seeks more time

© Dawn Business