A rigid stance on Iran by Donald Trump could trigger a conflict that would severely impact the United States economy, a prominent Pakistani business figure cautioned on Sunday.
Malik Khuda Bakhsh, President of the Pakistan Business Forum (Sindh), stated that the US could face economic consequences if it remained engaged in conflict, noting that there was growing domestic pressure on the political leader to avoid escalation.
Highlighting the wider global picture, he observed that ongoing regional conflicts have unsettled the international economy and created heightened uncertainty. He pointed out that many national economies are under strain, while sectors such as aviation are still recuperating from the effects of the COVID-19 pandemic.
On the domestic front, Mr Bakhsh, who also serves as Chief Advisor to the Pakistan Petroleum Dealers Association (PPDA), lauded Prime Minister Shehbaz Sharif for rejecting a proposal to increase petroleum prices, a decision he said would offer relief to the public.
He confirmed that fears of a fuel shortage in Pakistan were easing due to an improved supply chain, with multiple oil shipments arriving in the country. He attributed the stabilising situation to government policy measures and the efforts of the prime minister and Chief of Army Staff Asim Munir, while also acknowledging Iran”s cooperation.
Despite challenges including a quota system imposed by oil marketing companies and profiteering linked to price adjustments, he said petroleum dealers nationwide were ensuring an uninterrupted supply of fuel.
The business leader urged the administration to lower levies and taxes on petroleum products to provide further relief to consumers, and also called for an increase in dealers’ commissions.