Prime Minister Shehbaz Sharif said on Wednesday that many countries were facing difficulties in maintaining the balance between demand and supply of essential commodities due to the global situation, but Pakistan was addressing the challenging situation “successfully and effectively,” the Prime Minister Office (PMO) said.
According to a statement by the PMO, the prime minister made these remarks during a review meeting which was held to devise a comprehensive strategy to prevent the country from the financial and economic impacts arising from the regional conflict.
PM Shehbaz commended the effective and timely measures taken by institutions to prevent any emergency situation regarding the demand and supply of essential goods.
He appreciated the steps taken by relevant ministries and institutions through mutual coordination to address the financial and economic challenges and directed them to further enhance their cooperation.
“After meeting domestic needs of food and essential items, progress is being made on a comprehensive strategy to export surplus production,” the prime minister was quoted as saying.
PM Shehbaz said the government would continue taking all necessary steps for the stability and development of the national economy with firm resolve, as well as for public welfare.
Considering a hike in prices in the global market, the prime minister directed to devise a comprehensive medium and long-term strategy to tackle the economic and financial impacts on the country.
The prime minister issued special directions that the strategy, focused on stability and growth of the economy, be formulated in cooperation with relevant ministries and institutions, the PMO said.
While preparing the strategy, the external and internal macroeconomic impacts must be carefully evaluated, the premier directed.
He also directed that effective measures be proposed to minimise the impact of rising production costs, due to the regional conflict, on the country’s exports and overall domestic output.
“Available resources and opportunities should be fully utilised to prevent the adverse effects of the current economic challenges on agricultural and industrial production,” the PMO said, citing the prime minister.
As per the premier’s directives, relevant ministries and institutions were reviewing the economic impacts of the regional situation on a daily basis.
