The escalating conflict between Israel and Iran has triggered geopolitical and economic turbulence across the Middle East. Although Pakistan is geographically distant from the theatre of conflict, it is among the economies most vulnerable to its economic consequences. For a country heavily dependent on imported energy and remittances from Gulf economies, regional instability can quickly translate into domestic economic pressures. The conflict has disrupted critical energy supply routes and infrastructure in the Gulf, unsettling global oil and gas markets. Concerns about the safety of shipping routes, particularly around the strategically vital Strait of Hormuz, have heightened fears of supply interruptions. Since a significant portion of the world's oil and gas trade passes through this corridor, any disruption quickly drives volatility in global energy prices.

For Pakistan, the immediate impact is already visible in the liquefied natural gas (LNG) market. Qatar, one of the world's largest LNG exporters and a key supplier to Pakistan, has declared force........

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