'Russia-Ukraine war reshaping world trade, investment'.

ISLAMABAD -- Russia-Ukraine war is reshaping world trade and investment that will also affect Pakistan in the prevailing global scenario.

Talking to a delegation of Business Think Tank led by Muhammad Azam Khan, Coordinator to Federal Tax Ombudsman and former Senior Vice President Lahore Chambers of Commerce and Industry (LCCI), Meher Kashif Younis said with no signs of an early end to the war in Ukraine, the risk is growing that conflict will tip a fragile global economy into recession.

He said in February last, the crisis between Russia-Ukraine escalated, the global economy was beginning to recover from Covid after recording worst economic performance since the great recession. He said the current outlook for the global economy now seems bleak and South Asia will also affected equally.

He said rising inflation has outpaced the recovery in the real economy, adding that disruption in supply chains and rising petroleum prices before Russia's invasion caused challenges in managing global inflation and growth.

He said that Russia and Ukraine combined have a significant share of global supplies of oil, gas and other commodities so that the...

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