PIBF Expresses Grave Concern Over Escalating Tensions in Gulf Region

By Dr Ansab Ali | Lahore
LAHORE: The Pak International Business Forum (PIBF) has expressed grave concern over the escalating tensions and conflict in the Gulf region, particularly involving Israel, Iran, and the United States.
In a joint statement, PIBF Central President Dr Mushtaq Mangat and Central Secretary General Muhammad Ejaz Tanveer said that the ongoing hostilities are seriously harming the economic interests of countries across the region. They noted that instability in strategically sensitive areas is disrupting international trade corridors, intensifying volatility in global energy markets, and undermining investor confidence.
The forum highlighted that rising tensions are contributing to higher oil prices, increased freight and insurance costs, and uncertainty in financial markets. These developments are placing additional pressure on developing economies, including Pakistan and other South Asian states that depend heavily on energy imports and remittances from the Gulf region.
Dr Mushtaq Mangat emphasized that sustainable economic growth cannot be achieved in an environment of prolonged conflict. He stated that geopolitical instability weakens industrial productivity, discourages foreign direct investment, and negatively affects employment generation across interconnected markets.
Meanwhile, Muhammad Ejaz Tanveer urged all concerned parties to exercise maximum restraint and prioritize diplomatic dialogue to prevent further deterioration of economic conditions. He stressed that the global business community strongly favors peaceful resolution of disputes to safeguard long-term commercial stability and regional prosperity.
The Pak International Business Forum reaffirmed its commitment to promoting economic diplomacy, regional trade cooperation, and constructive engagement, emphasizing that peace and stability remain fundamental prerequisites for sustained economic progress in the Gulf region and beyond.