The Pakistan Economy Watch (PEW) has said the new sanctions of the US on Iran have damaged the Indian plans to become a dominant regional player. PEW president Murtaza Mughal has said that the US sanctions have put a question mark on the future of Chabahar port of Iran which was badly needed by India for trade with Afghanistan bypassing Pakistan.
He said that Chabahar Port located in south-eastern Iran and serving as Iran's only oceanic port was also touted as a rival to the China Pakistan Economic Corridor (CPEC) but the latest US move has jeopardized its future wasting billions of dollars of investment by India in Iran and Afghanistan.
The uneasy relationship between Pakistan and Afghanistan has helped moving a lot of transit trade to Iran compromising Pakistan's position in Afghanistan but the situation has taken a turn in favour of Islamabad after the sanctions and Karachi's port has regained importance, the President PEW added. Dr Murtaza Mughal said Pakistan is regaining its importance in the Afghan politics while a lot of efforts initiated by India have gone down the drain.
The Iranian port has no future as no institution or international bank will try to engage in business with Tehran to face US wrath, he said, adding that Iran's efforts to reach some central Asia states bypassing Pakistan have also failed.
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