Fragility amidst global turmoil

Beyond conventional diplomatic efforts, Pakistan has yet to undertake a comprehensive national-level initiative to meticulously monitor, analyse and prepare for the potential ramifications of the escalating cycle of retaliation in the Middle East. These potential effects encompass a surge in oil prices, displacement of the Pakistani workforce in the Middle East, deferment of work on the already-delayed Iran-Pakistan (IP) pipeline project, flight of investors from the region, supply chain disruptions and an increase in the logistic costs of trade. The hierarchy in the ministries of commerce, finance, planning, and foreign affairs was approached to shed light on the country’s strategy to mitigate the economic repercussions of the unfolding situation in the Middle East. Given the challenges faced by Prime Minister Shahbaz Sharif’s government in maintaining stability, curbing inflation, and stimulating growth, this insight was deemed crucial.