BR100 Decreased By (-0.98%)
BR30 Decreased By (-0.58%)
KSE100 Decreased By (-0.97%)
KSE30 Decreased By (-1.07%)
AGHA 7.70 Decreased By ▼ -0.11 (-1.41%)
BECO 5.13 Decreased By ▼ -0.08 (-1.54%)
BML 56.67 Decreased By ▼ -0.83 (-1.44%)
BOP 33.75 Decreased By ▼ -0.28 (-0.82%)
CNERGY 9.88 Decreased By ▼ -0.08 (-0.8%)
CSIL 5.29 Decreased By ▼ -0.02 (-0.38%)
FCCL 53.09 Decreased By ▼ -1.61 (-2.94%)
FFL 16.52 Decreased By ▼ -0.17 (-1.02%)
FNEL 1.21 Decreased By ▼ -0.02 (-1.63%)
KEL 7.22 Decreased By ▼ -0.18 (-2.43%)
KOSM 5.72 Decreased By ▼ -0.05 (-0.87%)
LOTCHEM 29.31 Decreased By ▼ -0.01 (-0.03%)
MLCF 92.16 Decreased By ▼ -2.20 (-2.33%)
NBP 201.61 Decreased By ▼ -1.44 (-0.71%)
NCPL 56.45 Decreased By ▼ -0.55 (-0.96%)
NPL 66.57 Decreased By ▼ -1.13 (-1.67%)
OGDC 316.29 Increased By ▲ 0.45 (0.14%)
PACE 10.48 Decreased By ▼ -0.16 (-1.5%)
PAEL 42.04 Decreased By ▼ -1.16 (-2.69%)
PIBTL 16.41 Decreased By ▼ -0.33 (-1.97%)
PPL 216.84 Decreased By ▼ -2.94 (-1.34%)
PRL 50.86 Increased By ▲ 1.67 (3.39%)
PTC 69.86 Decreased By ▼ -0.67 (-0.95%)
SSGC 26.98 Decreased By ▼ -1.27 (-4.5%)
TBL 9.73 Decreased By ▼ -0.13 (-1.32%)
TELE 8.65 Decreased By ▼ -0.14 (-1.59%)
TPL 17.90 Decreased By ▼ -0.34 (-1.86%)
TPLP 13.39 Increased By ▲ 0.12 (0.9%)
TREET 22.56 Decreased By ▼ -0.16 (-0.7%)
TRG 59.26 Decreased By ▼ -0.88 (-1.46%)

It feels like it’s finally time to speak his truth. How unfortunate, however, is the fact that the moment of truth for Egypt’s President Abdel Fattah el-Sisi has arrived only after the killing of over 40,000 Palestinians by Israel in less than one year.

According to reports, the Egyptian president has warned US Secretary of State Antony Blinken of the risk of the war in Gaza expanding regionally in a way “difficult to imagine”. “The ceasefire in Gaza must be the beginning of broader international recognition of the Palestinian state and the implementation of the two-state solution, as this is the basic guarantor of stability in the region.

The time has come to end the war, and to resort to wisdom, and to uphold the language of peace and diplomacy.” No doubt, his are pearls of wisdom, so to speak. It is increasingly clear that Egypt’s economy has taken a big hit from Israel’s war on Gaza, although it was already in a state of crisis before October 7 happened last year.

The Red Sea tensions largely caused by the Houtis of Yemen have immensely harmed Egypt’s economy in the form of lost Suez Canal revenue with ships rerouting to avoid the body of water altogether. In my view, el-Sisi did not work hard enough to help arrange a ceasefire in the initial, and even later, weeks of Israeli bombardment of the Gaza Strip.

The largest Arab country in terms of population is now unfortunately facing the specter of a massive political turmoil. In my view, el-Sisi needs to step up his efforts by reaching out to all Middle Eastern countries, including Turkey, to jointly exert pressure on the US to bring about a ceasefire immediately.

Naheed Rabbani (Karachi)

Copyright Business Recorder, 2024

Comments

Comments are closed for this article.