Saudi oil experts say that rising oil prices in the global market have worsened Pakistani experts on economic and financial issues following the attack on Saudi Arabia. They think this increase is a major threat to Pakistan's weak economy. Pakistan faces many economic challenges, including fiscal deficit, inability to meet tax targets, reduction in exports, stagnation in investment. , Economic growth includes significant reductions and rising import bills. In addition, the country is facing rising inflation, unemployment, falling production and rising costs.
It should be noted that in the global market, the price of oil first increased by 19.75 percent, which was later reduced to 8.7, but experts believe that there is a slight increase in risk for the troubled Pakistani economy. What effects can this rising cost have on the economy? Responding to this, Waqar Masood Khan, a finance affairs expert and former federal secretary of finance, told DW, "If the same situation had been a month or two, the support bill that the government had reduced slightly would increase again. "The current account deficit reforms will also be in jeopardy. All economic recovery efforts will be affected and this will also affect gas and LNG prices." He said it would be difficult for the public to face further inflation while the cost of production for the industrialists would rise. Oil prices are rising at a time after tensions in the Middle East, while tensions are picking up along the border between Pakistan and India.
It is estimated that Pakistan barely has the capacity to store twelve to fifteen days of oil while the country does not have adequate resources to store gas and LNG. Many economists think that if the tensions rise on the border or there is a limited or conventional war, it will be disastrous for the country's economy. Renowned economist Dr. Asra Talat Saeed believes that troops are in dire need of other oil and energy sources. He added that the foreign policy of the state could also be affected at such an event, "I think if your demand is too high, you will have no choice but to look at Riyadh. ۔ But in such a case, if China supports Iran and puts pressure on us that we stand with Tehran, then it will be very difficult for us. ”He said Pakistan could take oil from Iran, too. "But our state will bring a Shia Sunni question in this matter too and I think many religious parties will look at it from the same angle. However, if we do not act wisely, our economic hardship can be drastically increased, which will have a huge impact on the common man.
”The ruling PTI says the situation has left the government very worried. have done. Senior party leader Zafar Ali Shah told DW, "I think we should try to get oil and gas from Iran immediately, and if there is a problem because of sanctions on Tehran, we should be like India." The US should demand that it give us immunity to supply oil and gas from Iran. Otherwise, our economic problems will be exacerbated, which will have dangerous political consequences.
” We have increased the volume of the import bill by contract. However, Faisal Baloch, an economic affairs expert from Islamabad, thinks that this criticism is not appropriate, “You need different sources to run the economy. You can't just rely on oil. Gas, coal or other sources of energy. Without it, the economy becomes difficult to operate. But at the moment, all these sources will be expensive because we are importing almost all of these things. "
It should be noted that in the global market, the price of oil first increased by 19.75 percent, which was later reduced to 8.7, but experts believe that there is a slight increase in risk for the troubled Pakistani economy. What effects can this rising cost have on the economy? Responding to this, Waqar Masood Khan, a finance affairs expert and former federal secretary of finance, told DW, "If the same situation had been a month or two, the support bill that the government had reduced slightly would increase again. "The current account deficit reforms will also be in jeopardy. All economic recovery efforts will be affected and this will also affect gas and LNG prices." He said it would be difficult for the public to face further inflation while the cost of production for the industrialists would rise. Oil prices are rising at a time after tensions in the Middle East, while tensions are picking up along the border between Pakistan and India.
It is estimated that Pakistan barely has the capacity to store twelve to fifteen days of oil while the country does not have adequate resources to store gas and LNG. Many economists think that if the tensions rise on the border or there is a limited or conventional war, it will be disastrous for the country's economy. Renowned economist Dr. Asra Talat Saeed believes that troops are in dire need of other oil and energy sources. He added that the foreign policy of the state could also be affected at such an event, "I think if your demand is too high, you will have no choice but to look at Riyadh. ۔ But in such a case, if China supports Iran and puts pressure on us that we stand with Tehran, then it will be very difficult for us. ”He said Pakistan could take oil from Iran, too. "But our state will bring a Shia Sunni question in this matter too and I think many religious parties will look at it from the same angle. However, if we do not act wisely, our economic hardship can be drastically increased, which will have a huge impact on the common man.
”The ruling PTI says the situation has left the government very worried. have done. Senior party leader Zafar Ali Shah told DW, "I think we should try to get oil and gas from Iran immediately, and if there is a problem because of sanctions on Tehran, we should be like India." The US should demand that it give us immunity to supply oil and gas from Iran. Otherwise, our economic problems will be exacerbated, which will have dangerous political consequences.
” We have increased the volume of the import bill by contract. However, Faisal Baloch, an economic affairs expert from Islamabad, thinks that this criticism is not appropriate, “You need different sources to run the economy. You can't just rely on oil. Gas, coal or other sources of energy. Without it, the economy becomes difficult to operate. But at the moment, all these sources will be expensive because we are importing almost all of these things. "
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