Malik Muhammad Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), expressed deep concern about rising global and regional tensions, particularly in the Gulf, which could adversely affect Pakistan’s economy. He highlighted the Middle East as a key economic partner, noting that many Pakistani expatriates in Gulf countries contribute significantly to remittances.

Ongoing hostilities and instability could disrupt trade, energy supplies, and remittance flows during a challenging economic period for Pakistan. Bostan noted that airspace closures in several Middle Eastern countries have led to flight cancellations from major Pakistani airports, affecting thousands of passengers and causing financial losses for airlines.

He also raised concerns about potential shipping disruptions and their impact on trade routes and business costs. He warned of possible fuel shortages and rising domestic prices due to supply chain disruptions, urging policymakers to monitor the situation and take proactive measures to mitigate economic risks.