LAHORE: President of the Lahore Chamber of Commerce and Industry Faheem ur Rehman Saigol has expressed concern over the rising tensions in the Middle East and the increase in global oil prices, saying that the situation could have economic implications for Pakistan.
In a statement, he said that Pakistan is an oil-importing country and any significant increase in global oil prices may lead to a higher import bill, inflationary pressure and strain on the national currency. He said that prolonged geopolitical tensions could increase industrial costs and affect overall business activity.
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