WASHINGTON: Finance Minister Muhammad Aurangzeb has cautioned that the world economy, including Pakistan’s, could face “serious consequences” if the current conflict in the Middle East is allowed to drag on. Speaking with CNBC, the minister highlighted that while markets are currently stable, a prolonged war would create financial shocks that no country can ignore.
Aurangzeb revealed that Pakistan has been working hard behind the scenes to keep the peace. Over the weekend, Pakistani leaders made a “very earnest effort” to help the United States and Iran talk to each other. These mediation efforts were recognised and praised by both sides. The minister confirmed that even though the weekend meetings in Islamabad have ended, diplomatic discussions are still quietly continuing.
For Pakistan, the main worry is the rising cost of energy and global trade disruptions. As the country works with the IMF to stabilise its own economy, any big jump in oil prices could make things much harder for everyday citizens. Aurangzeb’s message was clear: the world needs stability in the Middle East to ensure economic growth for everyone.
