As the conflict in the Middle East escalates, Pakistan’s Planning Commission has cautioned about possible economic impacts on the country, including increased energy costs, strain on remittance inflows, and potential interruptions to exports and financial stability.
The ministry has warned that instability in the region, especially around the strategic Strait of Hormuz, could drive up global oil prices and sharply increase Pakistan’s import costs, given the country’s heavy dependence on petroleum imports from the Middle East, according to the Ministry of Planning’s Monthly Development Update for March.
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