KARACHI: The business community on Wednesday welcomed the ceasefire between the United States and Iran, while praising Pakistan’s diplomatic role in easing tensions.
Saquib Fayyaz Magoon, senior vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said the development had saved lives and restored hope for regional stability, adding that it had enhanced Pakistan’s standing internationally.
He said a potential easing of sanctions on Iran could create economic opportunities for Pakistan, including access to cheaper industrial raw materials, energy supplies and petroleum imports, which would help reduce costs for industry and consumers. He urged the government to formulate a clear strategy in consultation with the business community to capitalise on these prospects.
Business leaders from various chambers and trade bodies described the ceasefire as a significant breakthrough, noting that it had averted a wider conflict and created an opportunity to stabilise markets. They called for coordinated policymaking to mitigate the impact of high oil prices and support exporters.Representatives of industry associations in Karachi and other cities also commended Pakistan’s diplomatic engagement, describing it as timely and effective in reducing regional tensions.
