President of Pakistan Business Network (PBN) Omar Butt on Tuesday commended the country’s civil and military leaders for their diplomatic handling of the ongoing conflict involving the United States, Israel, and Iran, stating that their approach has enhanced Pakistan’s global standing and helped mitigate economic risks.
He praised Prime Minister Shehbaz Sharif and Chief of Army Staff Field Marshal Asim Munir for what he called “principled and courageous” navigation through a highly complex regional crisis. He noted that Pakistan’s focus on dialogue and neutrality has enabled it to serve as a credible mediator amid heightened tensions.
Omar Butt mentioned that Pakistan is positioning itself at the forefront of mediation efforts, with signs that Islamabad may soon host direct talks between top US and Iranian officials. This initiative has involved high-level outreach, including contacts between military leadership and Washington, as well as parallel engagement with Tehran.
The business leader emphasised that the stakes for Pakistan’s economy are still high. The country shares a 900-kilometre border with Iran and depends heavily on Gulf shipping lanes for energy imports, sourcing about 90 per cent of its oil from the region. Any further disruption to these routes could increase fuel prices, boost the import bill, and add inflationary pressures at a time when Pakistan remains under an IMF stabilisation program.
He also highlighted that millions of Pakistani workers in Saudi Arabia and other Gulf countries face potential risks if the conflict intensifies, underscoring the connection between regional stability and household income.
According to Butt, Pakistan’s focus on diplomacy has helped sustain some economic stability, allowing trade and investment to continue despite external uncertainties. He suggested that Pakistan’s evolving mediatory role could boost its international credibility and deepen cooperation with global partners.
Pakistan’s external position remains vulnerable to oil price fluctuations and currency pressures, with policymakers closely monitoring the situation. Contingency plans are being developed to handle potential spikes in energy costs and safeguard foreign exchange reserves. Continued de-escalation could help lower inflation and boost market confidence, especially in energy-dependent sectors. Nonetheless, he warned that a prolonged conflict could undermine recent macroeconomic stabilization efforts and hinder economic recovery.
