In response to the escalating conflict between the U.S. and Iran, Prime Minister Shehbaz Sharif has established an 18-member committee to assess the impact of rising international oil prices on Pakistan's economy. The committee, led by Finance Minister Muhammad Aurangzeb, will monitor global oil market trends and evaluate their potential effects on domestic prices and supply chains. Following the conflict, Brent crude prices surged nearly 14%, raising concerns about supply disruptions through the Strait of Hormuz, a critical passage for about 20% of global oil. The committee is tasked with proposing measures to ensure the stability of petroleum supply and market availability, meeting daily to report findings to the Prime Minister's Office (Profit Pakistan, March 2, 2026).
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Shehbaz Sharif Forms Committee To Address Oil Price Crisis In Pakistan
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In response to rising oil prices from U.S.-Iran tensions, Pakistan's PM Sharif formed a committee to assess economic impacts, as transport disruptions threaten trade and textile sector competitiven...
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