Pakistan finance minister says Gulf attacks worry economic outlook
Pakistan Finance Minister Muhammad Aurangzeb told AFP in Bangkok on Saturday that the country has enough energy supplies until November but warned of long-term risks from Gulf infrastructure attacks.
Current supply situation remains stable
The minister stated Pakistan has procured sufficient energy to last through November. He noted there are currently no shortages or queues at gas stations. Authorities are now preparing for the upcoming winter months when household demand typically increases.
Government avoids expensive spot cargoes
Aurangzeb said the government will not buy spot LNG cargoes unless there is an absolute dire need. Such spot purchases tend to be far more expensive than previously contracted shipments. The first-order impact of rising prices has been negotiated well by Pakistan so far.
Regional escalation causes alarm
Attacks on Saudi Arabia and other Gulf countries are worrying for the country's longer-term economic outlook. Global energy prices have surged since the US and Israel launched their war on Iran in February. The minister expressed concern that damage to these sites would delay a return to economic normalcy.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Middle East Eye
- Dawn
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