Karachi, March 9, 2026 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the federal government to declare an immediate energy emergency and implement robust contingency measures to safeguard Pakistan’s fragile economic recovery and exports from the escalating Middle East conflict.
FPCCI President Atif Ikram Sheikh highlighted that soaring petroleum prices, recently raised by Rs55 per liter, coupled with high interest rates at 10.5%, are pushing Pakistan’s cost of doing business to unsustainable levels. “This will stifle industrial growth and further slow down exports,” Sheikh warned, noting that regional competitors maintain single-digit monetary policies and rationalized energy costs to support manufacturing.
The FPCCI chief also stressed the vulnerability of Pakistan’s industrial sector due to heavy reliance on Gulf energy imports from Saudi Arabia, UAE, and Qatar. Interruptions in crude oil and LNG supplies could trigger inflationary pressures and deepen the cost-of-living crisis. Freight and insurance costs have surged, with major shipping routes spiking up to 300% and LNG freight rates jumping over 40%, causing export delays of 15–20 days to key markets in the EU, UK, and US.
FPCCI SVP Saquib Fayyaz Magoon called for increasing national petroleum reserves from 28 days to 60–90 days and urged targeted policies to protect export competitiveness amid rising raw material costs and exchange-rate volatility.
Sheikh emphasized that coordinated action between policymakers, regulators, and the business community is critical. FPCCI stands ready to assist the government in implementing contingency plans to ensure Pakistan’s trade and industry remain resilient during this period of global uncertainty.