Pakistan, June 16 -- ISLAMABAD - Prime Minister Shehbaz Sharif has formed a high-level committee to monitor petroleum prices and supply conditions as tensions in the Middle East continue to rise. The move follows recent Israeli strikes on Iran, which have triggered instability in global oil markets.

Chaired by Finance Minister Muhammad Aurangzeb, the committee includes senior officials from finance, energy, and regulatory bodies. Its main goal is to closely monitor international oil prices, identify risks to the petroleum supply chain, and assess the economic impact of ongoing geopolitical unrest.

The committee will also track futures markets, study the foreign exchange risks linked to price volatility, and evaluate the potential fiscal...