Wars and geopolitical conflicts thousands of miles away can drive up fertilizer prices for Pakistani farmers, Federal Planning Minister Ahsan Iqbal has warned. He said global disruptions to energy markets, food security and supply chains can have direct consequences for households and agricultural producers in Pakistan.
Addressing the 29th Sustainable Development Conference and 4th Sustainability Investment Expo in Islamabad on November 2, the minister said countries must adopt proactive strategies to navigate an increasingly complex global environment shaped by geopolitical tensions, climate change and emerging technologies.
Ahsan Iqbal emphasized that sustained development policies, stronger institutions and long-term economic planning are essential for Pakistan to withstand external shocks, while developing economies must diversify exports and strengthen their technological capabilities to remain competitive.
The event was organized by the Sustainable Development Policy Institute (SDPI) at Allama Iqbal Open University, where the minister attended as chief guest.
Iqbal said countries must either prepare for emerging challenges and turn them into opportunities or risk facing their consequences without adequate safeguards.
He highlighted Pakistan’s efforts to build technological capacity through national centers of excellence in artificial intelligence, cybersecurity, big data and cloud computing, aimed at equipping young people with skills needed to compete in the global economy.
Global Conflicts Increasing Economic Risks for Developing Countries
The planning minister said geopolitical tensions and international conflicts, including the Russia-Ukraine war, were creating significant economic consequences across energy markets, food security, trade and global supply chains.
He noted that countries far from conflict zones were also experiencing the effects of international instability.
Iqbal said global developments were increasingly influencing household finances and living costs, with international conflicts capable of raising fertilizer prices for Pakistani farmers and increasing food expenses for households.
He emphasized that geopolitical developments were no longer limited to diplomatic and strategic considerations but were directly affecting economic conditions.
The minister also observed that global supply chains were being reorganized around strategic and political priorities rather than solely on cost and efficiency.
In response, developing countries would need to diversify international partnerships, strengthen economic resilience and expand regional connectivity to remain competitive amid changing global conditions.
Ahsan Iqbal Calls for Reform of Global Financial Governance
Iqbal highlighted the growing debt burden faced by developing economies. He said these obligations were restricting governments’ ability to invest in human development, infrastructure and sustainable economic growth.
The minister stressed that the severity of external shocks depended not only on their scale but also on a country’s preparedness, export diversification and workforce capabilities.
Economies with diversified industries, strong institutions, technological capacity and skilled workers were better positioned to withstand disruptions and capitalize on emerging opportunities.
He called for stronger multilateral cooperation and reforms to global financial governance to help developing countries address mounting economic pressures.
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