KARACHI
\nAtif Ikram Sheikh, President of The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed his profound concern over the escalating geopolitical tensions and renewed hostilities between the United States and Iran.
\nCountry\u2019s apex trade body has called upon the federal government and economic policymakers to immediately devise a crisis-response strategy to insulate Pakistan\u2019s fragile economy, trade routes, and industrial sector from the inevitable shockwaves.
\nMr. Atif Ikram Sheikh explained that Pakistan\u2019s economy, which has recently shown encouraging signs of stability with a transition toward fiscal discipline, cannot afford the inflationary pressures of an unexpected oil price shock or disruptions in maritime trade.<\/p>\n
Mr. Atif Ikram Sheikh emphasized the critical need for proactive macroeconomic management to prevent the derailment of recent stabilization efforts. The renewed hostilities in our immediate neighborhood pose a severe threat to regional stability, energy supply chains, and global trade dynamics, he added.<\/p>\n
We urge the government to immediately engage with the business community to formulate a strategic buffer that secures our energy imports and protects our export-oriented industries from being pushed to the wall, he added.
\nMr. Saquib Fayyaz Magoon, SVP FPCCI, highlighted the vulnerability of the nation\u2019s supply chains and the disproportionate impact on the manufacturing sector. Any conflict in the Persian Gulf directly threatens the cost of doing business through skyrocketing freight charges and delayed shipments. Our Small and Medium Enterprises (SMEs) are already grappling with exorbitant energy tariffs and high borrowing costs. A sudden disruption in the availability of essential raw materials or a spike in global fuel prices could push many manufacturers toward default or complete closures. The government must strike a delicate balance by ensuring uninterrupted access to industrial inputs while curbing non-essential foreign exchange outflows, he added.
\nMr. Abdul Mohamin Khan, VP & Regional Chairman Sindh, FPCCI, emphasized the localized threat to Sindh\u2019s economy and its manufacturing zones. Karachi, being the premier port city and industrial heartland, is directly in the crosshairs of any turbulence in maritime trade routes. The industries in Sindh are already bearing the brunt of severe economic challenges and high operational costs. We demand the establishment of fast-track business facilitation centers in every district and immediate coordination between provincial and federal authorities to lower operational frictions at the ports. Our export pipeline must be safeguarded to prevent further widening of the trade deficit, he added.
\nThe FPCCI leadership unanimously urges the Ministry of Finance, the Ministry of Commerce, the Federal Board of Revenue (FBR), and the State Bank of Pakistan to immediately form a joint task force with the business community. This task force must proactively evaluate the evolving geopolitical landscape and implement a contingency framework that ensures trade continuity and shelters the local industry from external shocks.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Atif Ikram Sheikh, President of The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed his profound concern over the escalating geopolitical tensions and renewed hostilities between the United States and Iran. Country\u2019s apex trade body has called upon the federal government and economic policymakers to immediately devise a crisis-response strategy to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-556164","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n