Middle East tensions have put the world’s economies, including Pakistan’s, at a critical juncture, according to Malik Khuda Bakhsh, President of the Pakistan Business Group (Sindh Region). He noted that the ongoing Iran–US–Israel conflict has impacted key trade routes and global supply chains. Thanks to the leadership of Field Marshal Syed Asim Munir and Prime Minister Mian Shehbaz Sharif, Pakistan has avoided a severe crisis so far.

Bakhsh emphasised the importance of the five-point joint agenda for peace in the Middle East, backed by China, and highlighted the vital role of the Strait of Hormuz in global trade and energy. He praised the government’s subsidy of Rs. 129 on oil prices, noting that while inflation is currently low, it may rise as global crude oil prices hit $112 per barrel, with concerns they could reach $150.

He cautioned that ongoing tensions could affect remittances from the Middle East, affecting Pakistan’s economic conditions. Although the government’s cost-saving measures have provided Rs. 120 billion in relief, further measures are needed to prevent further increases in oil prices.