Finance Minister Muhammad Aurangzeb says that seven weeks into the Middle East war, Pakistan is dealing with the conflict’s “first-order impact”.

“We are now seven weeks into this warlike situation, so what Pakistan is dealing with is the first-order impact: the procurement of molecules, the pricing, the logistics, how we do the price transmission to cut down on demand and moving towards targeted subsidies, etc,” he tells Fox Business.

“At this point in time, the main focus has been to keep the supply chain going,” he adds. “Second-order, third-order impact, in terms of what happens to inflation, growth, etc, will be a direct function of the duration and intensity of the conflict.”