Page 70 - CMA Journal (Mar-Apr 2026)

Survey Report

Survey Report on Implications of the

Middle East Conflict for Pakistan

Preamble Methodology
In April 2026, ICMA and Gallup Pakistan came together to The ICMA Research and Publications Department
launch a survey on how the Middle East con ict affects designed the survey questions and shared them with
Pakistan. The goal was simple, to understand what ICMA Gallup Pakistan, which digitized the questionnaire into an
members and key stakeholders think about the online format. Gallup then conducted an opinion-based
economic, trade, energy, and geopolitical challenges the
country now faces. survey among ICMA members and non-members to
gather views on the implications of the Middle East
The survey looked at how renewed con ict, unstable
energy prices, falling investor con dence, and pressure con ict for Pakistan.
on exports could shape Pakistan's future. But it also To ensure maximum participation, Gallup reached out to
looked for opportunities, ways to build resilience and use members via email, WhatsApp, and phone calls. ICMA also
diplomatic engagement as a tool for stability. circulated the survey independently from its end. In total,
These ndings are now published in the March–April over 5,000 respondents were contacted. Data was
2026 issue of the Chartered Management Accountant collected over six weeks, checked for quality, analyzed
Journal. ICMA believes its members, students, and readers
will nd this work valuable as they assess both the risks using empirical software, and the nal ndings were
and the possibilities ahead for Pakistan. summarized and shared with ICMA.

Survey Result

75% cite Energy or In ation as Pakistan's Top Risk

When asked what would most affect Pakistan if the If the US Iran conflict resumes a er the ceasefire,
US-Iran con ict resumes after the two-week what will impact Pakistan the most?
cease re, half of respondents (50%) pointed to
energy price volatility. Another 25% named in ation
pressures. Together, these two concerns accounted
for three out of every four responses. Market
uncertainty (18%) and trade disruption (7%) trailed
signi cantly behind.

86% expect Economic Slowdown If Con ict Resumes

How will the Middle East conflict affect Pakistan's
Nearly half of respondents (48%) predicted a severe economic growth over the next 12 months?
slowdown for Pakistan's economy over the next 12
months. Another 38% expected a moderate
slowdown. Together, these two concerns accounted
for 86% of all responses. Only 8% anticipated near-
zero growth, while a mere 6% believed the economy
would remain stable.

ICMA’s Chartered Management Accountant, Mar-Apr 2026 68