Mideast conflict
\nAli Pervaiz Malik, Bangladeshi adviser discuss strategies to ensure uninterrupted fuel supplies, per statement
\n islamabad
\nPakistan has offered support to Bangladesh in dealing with the ongoing energy crisis triggered by the Middle East conflict and the subsequent closure of the Strait of Hormuz \u2014 a key oil trade route from which around one-fifth of global oil shipments pass.
\nThe development came as Petroleum Minister Ali Pervaiz Malik held a meeting with Adviser on Finance of Bangladesh Rashed Al Mahmud Titumir in Islamabad to exchange views on the evolving global energy situation, its impact on international energy markets, and the measures taken by both countries to address energy supply challenges.
\nAccording to a statement issued by the Pakistan High Commission in Bangladesh on Tuesday, both sides discussed their respective strategies for managing the unprecedented energy crisis, ensuring uninterrupted fuel supplies and mitigating the impact of rising energy market uncertainties on their economies.
\nThe petroleum minister briefed the Bangladeshi adviser on Pakistan\u2019s efforts to secure fuel supplies amid challenging global circumstances.
\nHe also shared details of the government\u2019s initiatives, including targeted fuel subsidy measures, to provide relief to the public while managing the impact of the crisis.
\nAl Mahmud Titumir shared the steps taken by Bangladesh to ensure fuel supply security and manage the emerging challenges.
\nHe observed that the current crisis had brought energy security to the forefront of policymaking, highlighting the need to make it a central consideration in national energy strategies.
\nThe Bangladeshi official also emphasised the importance of diversifying energy sources and supply routes to strengthen resilience against global disruptions.
\nHe appreciated Pakistan\u2019s diplomatic efforts towards de-escalation of the conflict involving Iran, stressing that de-escalation was essential for global economic stability, as the crisis was affecting economies and energy markets worldwide. The adviser also commended Pakistan\u2019s efforts to secure LNG cargoes from Qatar through the Strait of Hormuz despite the challenging circumstances.
\nPetroleum Minister Malik termed the situation an unprecedented energy crisis, underscoring the importance of preparedness, diversification and regional cooperation in navigating global energy disruptions.
\n\u201cHe expressed Pakistan\u2019s willingness to share its experiences and lessons with Bangladesh to support their efforts in managing the energy crisis and strengthening energy security,\u201d read the statement.
\nBoth sides underscored the importance of continued engagement and sharing of experiences to address common energy challenges and build greater resilience against future global supply disruptions, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mideast conflict Ali Pervaiz Malik, Bangladeshi adviser discuss strategies to ensure uninterrupted fuel supplies, per statement islamabad Pakistan has offered support to Bangladesh in dealing with the ongoing energy crisis triggered by the Middle East conflict and the subsequent closure of the Strait of Hormuz \u2014 a key oil trade route from which around one-fifth […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-575844","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n