Page 7 - CMA Journal (Mar-Apr 2026)

EXCLUSIVE INTERVIEW

“ In light of escalating

Middle East tensions, the

Ministry is prioritizing the
diversification of export
markets and the

establishment of alternative
trade routes. Key

contingency plans include
enhancing trade with
Central Asia through
improved access,

leveraging the China-
Pakistan Economic

Corridor (CPEC), and
expanding trade Mr. Jam Kamal Khan
relationships with non- Federal Minister for Commerce

traditional markets. “

ICMA: Facing global shocks, where should Pakistani changes will be key to maintaining competitiveness and
exporters focus rst to protect trade and seize emerging capturing new opportunities.
opportunities?
ICMA: How are recent global tensions, including the US-
Jam Kamal Khan: Pakistan has faced multiple shocks in Israel-Iran con ict, disrupting Pakistan's exports, trade
recent years, including the COVID-19 pandemic, balance of revenues, and supply chains?
payments pressures, geopolitical con icts, and climate
Jam Kamal Khan: Recent global tensions, including the US-
disasters. At the same time, exporters are dealing with rising
Israel-Iran con ict, have signi cantly impacted Pakistan's
protectionism, stricter compliance and sustainability
macroeconomic variables, exacerbating balance of
standards, and stronger competition in traditional markets.
payments issues and exerting pressure on in ation and
In this environment, the focus must be on improving interest rates. Oil prices have doubled, while disruptions in
international compliance, increasing value addition, maritime routes, escalating freight and insurance costs have
diversifying markets and products, and expanding into affected supply chains by creating delays in accessing
sectors like IT and digital services. Exporters also need imported inputs and raw materials needed for export
greater operational exibility and a focus on more stable production, creating challenges for maintaining stable trade
demand products. The ability to adapt quickly to global ows and export revenues.

ICMA’s Chartered Management Accountant, Mar-Apr 2026 5