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Author: Sonia Nisar
Sonia Nisar
Sonia Nisar holds an MS in Economics and is currently pursuing her PhD at IM Sciences, Peshawar. She is a Lecturer at Abasyn University, Peshawar, with academic interests in economics and related policy issues.
In recent months, rising geopolitical tensions in the Middle East have created uncertainty in the global economy. For countries with strong economic resilience, such shocks may be manageable. However, for a developing country like Pakistan, which is already struggling with inflation, fiscal deficits, and external debt, the economic consequences of regional conflicts can be significant. One of the most immediate impacts of war in the Middle East is the increase in global oil prices. Pakistan relies heavily on imported oil to meet its energy needs, and a large portion of this oil passes through the Strait of Hormuz, a critical…