ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said the Centre and provinces need to set their priorities and make collective efforts to provide relief to the needy amid the global oil crisis triggered by the US-Israeli war on Iran.

He made the remarks while addressing a high-level meeting, attended by Chief of Defence Forces Field Marshal Asim Munir, the chief ministers from all four provinces and federal ministers.

The premier said that the Centre and provinces should utilise their resources sagaciously and curtail their development projects as much as possible while also utilising their resources on agricultural-related initiatives.

“We have to spend this money on public goods and transport. Now we have to set our priorities jointly,” he added.

He also highlighted the government’s initiatives to protect the economy and the common man from the adverse impact of the global oil crisis.

In his remarks, PM Shehbaz also said that like other countries across the world, Pakistan was “being severely affected by this war”.

He added that after achieving macroeconomic stability, the “time for prosperity and development had arrived but unfortunately, as a result of this war, we are facing unlimited economic difficulties”.

He said two Pakistani vessels that were “waiting to pass through the Strait of Hormuz” were able to do so thanks to the efforts made by Deputy Prime Minister and Foreign Minister Ishaq Dar and CDF Munir.

“In recent days, arrangements were made for 20 more Pakistani-flagged vessels” [to pass through the strait], which will see further progress in the coming days,” he highlighted.

He also recalled that his teams held separate meetings with the chief ministers soon after the conflict sparked, after which it was decided to “pass on” hikes of Rs55 in petroleum prices.

The PM also highlighted the various austerity measures undertaken by the government, especially thanking PPP Chairman Bilawal Bhutto-Zardari for “showing great interest” and calling upon him, as well as President Asif Ali Zardari for holding meetings.

“We gave a blanket cover in these three weeks, and regarding this, the Centre contributed Rs129bn. We made a Rs100bn cut in the Public Sector Development Programme and we added the savings into the account, from which the Centre bore the expenses,” he said.