Karachi: The President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has warned that rising tensions in the Middle East involving Israel, the United States, and Iran could severely impact Pakistan’s economy. He highlighted that any potential conflict in the Gulf or disruption of oil and gas supplies through the Strait of Hormuz could trigger surging petroleum prices, worsening the energy crisis, and increasing industrial production costs.
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Rajput urged the government to take the business community into confidence before implementing energy conservation measures or considering any potential lockdown. He emphasized that rising energy costs would directly affect industrial output and could slow overall economic activity.
The KATI President praised Pakistan’s diplomatic efforts to ease tensions between the United States and Iran, noting that the country’s balanced foreign policy plays a key role in maintaining regional stability. He also thanked the Iranian government for allowing Pakistani vessels to pass through the Strait of Hormuz, calling it a vital opportunity for advance preparations in case of energy shortages.
Welcoming ongoing diplomatic initiatives, Rajput said they could benefit not only the region but the global community. He urged the international community to work toward de-escalation and sustainable peace through negotiations.
He concluded that the industrial and business community strongly supports peace and stability, as sustained economic growth depends on a secure and predictable environment.
