Pakistan commerce body calls for ‘energy emergency’ to shield economy from Middle East conflict

KARACHI: Pakistan’s leading commerce body on Monday urged the government to declare an “energy emergency” to shield the country’s economy from an intensifying conflict between the United States, Israel and Iran. The US-Israeli strikes on Iran and Tehran’s counterattacks on commercial and US interests in several Gulf countries have pushed global oil prices higher and disrupted key energy supply routes, including the Strait of Hormuz, which supplies roughly 20 percent of the world’s oil and gas consumption.

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