Pakistan, March 17 -- President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Sheikh stated that geopolitical instability in the Gulf threatens Pakistan's export competitiveness, noting that nearly 80% of the country's crude oil imports and about one-quarter of its liquefied natural gas (LNG) pass through the Strait of Hormuz, and any prolonged disruption would inevitably strain foreign exchange reserves and lead to significant inflationary pressure.

In a statement released on Monday, Sheikh stressed that escalating military tensions in the Middle East and the closure of the Strait of Hormuz have triggered alarm across Pakistan's trade and industry landscape, with business leaders warning that soarin...