Islamabad
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Thursday that Pakistan’s constructive, neutral and balanced role in the Iran-Israel ceasefire has earned international appreciation.
He said Pakistan acted with wisdom to safeguard the broader interests of the Muslim Ummah, regional stability, and the global economy.
Mian Zahid Hussain stated that the ceasefire has led to a noticeable decline in global oil prices, providing relief to both consumers and businesses worldwide. If the conflict had escalated, crude oil prices could have exceeded 110 dollars per barrel, severely aggravating global inflation and pushing developing economies under immense economic pressure.
Speaking to the business community, the veteran business leader noted that the reduction in tensions would help revive shipping routes, lower insurance costs, enhance the environment for maritime trade, and mitigate disruptions in the global supply chain. Countries like Pakistan will benefit from smoother delivery of energy and essential commodities.
Zahid added that the recent war had exposed weaknesses in Israel’s defense systems and cast doubt on its military claims. He emphasized that victory cannot be achieved solely through propaganda. He said the country should now strive to eliminate the economic sanctions that have hindered its development for four decades.
