CORPORATE WINDOW: Global peace dividends

If the ceasefire in the Middle East evolves into lasting peace, the resulting global peace dividends will be significant. Pakistan, in particular, could benefit from reduced business costs due to stable shipping routes, expanded opportunities for trade, investment, and economic cooperation with its Western neighbours and Gulf countries, and a likely surge in remittances as reconstruction efforts commence in the war-torn region. However, much will depend on the responsiveness of Pakistan’s private and public sectors. The preparedness of businesses and the agility of the government in implementing necessary policy adjustments will be crucial in capitalising on this potential. An informal survey of the market and policy circles reveals a concerning lack of interest in the opportunities these regional changes present, reflecting the challenges of a country striving to revive its struggling economy. “We have a long history of missing obvious opportunities that came knocking,” remarked a former economic diplomat, expressing frustration over inertia in key public and private circles. “Whether it’s regional trade, leveraging our strategic location, tapping into rich mineral reserves, over 1,000 miles of warm seacoast, or harnessing highly favourable demographics, our expertise seems to lie in turning potential advantages into liabilities.”