Prime Minister Shehbaz Sharif on Wednesday said that the country’s weekly oil bill has reached $800 million amid the war in the Middle East.
Global fuel prices have skyrocketed over the past two months in the wake of the US and Israel launching joint strikes on Iran.
Addressing a meeting of the federal cabinet today, the premier commended the efforts of Petroleum Minister Ali Pervaiz Malik for tackling the fuel crisis resulting from the Iran war, stating that the situation now appeared “satisfactory”.
On that note, the prime minister remarked that fuel prices in the global markets had skyrocketed, “our weekly pre-war oil bill was around $300m, and today it is up to $800m”.
He further shared that the country’s fuel consumption “had lessened compared to previous weeks,” stressing that the situation was being monitored regularly.
PM Shehbaz further stated that before the war broke out, Pakistan was doing well on the macroeconomic front; however, “with the war, our efforts of two years witnessed a setback”.
More to follow.
