Pakistan continuing efforts for peace in Middle East as before: PM Shehbaz

Prime Minister Shehbaz Sharif emphasized on Wednesday that Pakistan is persistently striving for peace in the Middle East despite surging global oil prices. During a federal cabinet meeting, he stated that the country's oil prices had "skyrocketed" due to instability in the region. "Pakistan continues to play its role in restoring peace in the region," he said, referencing recent interactions with Tehran and other regional stakeholders, as well as engagements under the Makkah Joint Defence Agreement.

The government had initially planned to raise fuel prices by Rs15 on Friday; however, Petroleum Minister Ali Pervaiz Malik engaged with refineries to bear the cost of their windfall profits, according to Shehbaz.

Regarding the fuel subsidy scheme initiated in September, the prime minister revealed that it will continue until the end of December. He reported that Rs28 billion has already been spent, and the scheme is being carried out "successfully and transparently" with the Intelligence Bureau (IB) closely monitoring its progress. In the case of LPG, Shehbaz declared that the "era of LPG mafia" has ended, and the process is now being managed transparently.

He further explained that LPG imports will be offered for auction in lots, allowing the government to reap the profits and provide subsidies to the common man.

The prime minister also announced a proposed Rs160bn package for Khyber Pakhtunkhwa (KP), stating that security remains the highest priority in the region. He affirmed that counterterrorism efforts are ongoing, supported by law enforcement agencies, the new KP government, and the federal government, with the ultimate goal of eradicating terrorism.

Shehbaz highlighted that the federal government is holding meetings "day and night" to secure LPG, liquefied natural gas (LNG), petrol, and gas supplies ahead of the winter season, despite challenges posed by the closure of maritime routes.