Pakistani PM says economy “seriously suffering” amid Iran war

Pakistani Prime Minister Shehbaz Sharif said the country’s economy is “seriously suffering” due to the ongoing war in Iran, noting that, like other nations, Pakistan is facing unprecedented economic challenges.

Sharif emphasised that after achieving macroeconomic stability, Pakistan was poised for growth and development, but the conflict has caused significant setbacks, Caliber.Az reports, citing Pakistani media.

“Time for prosperity and development has arrived, but unfortunately, as a result of this war, we are facing unlimited economic difficulties,” he stressed.

The PM outlined government measures to mitigate the impact, including postponing a planned $0.59 increase in oil prices and implementing various austerity steps.

He also noted that the Central government contributed $1.39 billion over three weeks, while $1,073 billion from the Public Sector Development Program (PSDP) was reallocated to cover expenses.

Sharif expressed gratitude to Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari for his “great interest” and visits, as well as to former President Asif Ali Zardari for holding meetings with the government.

By Bakhtiyar Abbasov