Finance minister warns Gulf energy attacks pose severe risks to economic outlook

Finance Minister Muhammad Aurangzeb has warned that attacks on energy infrastructure in Saudi Arabia and the broader Gulf region pose worrying long-term risks to Pakistan’s economic outlook. Speaking during the IMF-World Bank Annual Meetings in Bangkok, Aurangzeb told AFP that while Pakistan has withstood the shock of skyrocketing energy prices resulting from the US-Israeli war on Iran, regional infrastructure attacks remain a concern.

According to Dawn, global energy prices have surged since the United States and Israel launched a war on Iran in February, with Tehran’s retaliatory actions targeting Gulf allies. Additionally, the Houthis in Yemen have repeatedly attacked Saudi energy facilities and airports amid a resurgence of the Yemeni civil war.

Aurangzeb noted that Pakistan has successfully navigated initial energy price shocks, experiencing no shortages, gas station queues, or law and order issues. The country has procured enough energy supplies to last through November and is currently planning for the winter months. The Finance Minister stated that the government will avoid procuring expensive LNG spot cargoes unless there is an absolute dire need.

Brief written by urgent.news from Daily Times, 3News, Dawn - Pakistan, Dawn — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.