Federal Defence Minister Khawaja Asif said on Saturday the situation in the Middle East has shaken the global economy, with petroleum prices soaring within days owing to the closure of the Strait of Hormuz.
In a statement, Asif said keeping the increase in prices limited during a global crisis requires extensive effort. He said advance planning, coordination and arrangements form a long and demanding process.
The minister said that without those measures petrol would today stand at Rs375 per litre.
He also prayed that the Higher Power grant unity to the Islamic world and the wisdom to distinguish between friend and foe.
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