Washington, D.C.: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, participated in a panel discussion organized by the International Monetary Fund (IMF) titled “MENAP Economies Navigating War: Managing Shocks and Shaping the Future.”

According to Press Information Department, the Finance Minister described the ongoing Middle East conflict as a major supply shock, drawing parallels to the demand shock seen during the COVID-19 pandemic. He pointed out that the crisis has sparked a global discourse on energy security and the resilience of supply chains.

During the session, the Minister detailed the immediate impact of the crisis on fuel availability and pricing, while explaining Pakistan’s proactive scenario planning for potential secondary and tertiary effects. These considerations include inflation, remittances, exports, and capital flows.

The Minister also highlighted an emerging opportunity within the global trade environment, noting that transshipment volumes at Karachi Port had surpassed those of the previous year within just the past month.

In response to the current challenges, the Finance Minister emphasized the importance of building strategic reserves. He also outlined two critical lessons: the maintenance of fiscal discipline with targeted delivery mechanisms and the significant role of technology in strengthening economic resilience.