Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Wednesday said that Pakistan is actively working to promote peace and stability in the region, underlining the country’s continued diplomatic efforts to ease tensions.
Speaking during a Federal Cabinet meeting, the prime minister referred to extensive Iran–United States negotiations held in Islamabad on April 11, which reportedly continued for around 21 hours and marked a significant step in diplomatic engagement.
PM Shehbaz said Pakistan played a constructive and coordinated role in facilitating the talks, with important contributions from Field Marshal Syed Asim Munir, Deputy Prime Minister and Foreign Minister Ishaq Dar, and other senior officials.
He noted that due to these efforts, the ceasefire between Iran and the United States was extended and is still in place. Interior Minister Mohsin Naqvi also played a supportive role in the process, he added.
The prime minister further informed the cabinet that Iranian Foreign Minister Abbas Araghchi recently visited Pakistan along with a delegation, during which multiple rounds of discussions were held, including a two-hour meeting with him.
According to PM Shehbaz, the Iranian foreign minister assured that Tehran would respond constructively after consultations with its top leadership.
Turning to economic issues, the prime minister expressed concern over the rise in global crude oil prices and said revised fuel rates were expected to be announced on Friday.
He acknowledged that the situation remained challenging but expressed confidence that coordinated efforts and effective planning would help manage the impact.
PM Shehbaz praised Petroleum Minister Ali Pervaiz Malik and his team for maintaining a stable fuel supply in the country, noting that unlike several other nations, Pakistan did not face panic buying or supply disruptions.
He also highlighted that Pakistan’s oil import bill had increased significantly from $300 million to $800 million due to recent global developments, adding pressure on the economy. However, he said petroleum consumption had slightly declined during the current week.
On the broader economic situation, the prime minister noted that while macroeconomic indicators had been improving, recent regional tensions had slowed the pace of recovery achieved over the past two years.
He further informed the cabinet that Pakistan had successfully repaid $3.5 billion in maturing loans while maintaining foreign exchange reserves, with support from Saudi Arabia.
PM Shehbaz particularly acknowledged the role of Crown Prince Mohammed bin Salman in helping Pakistan stabilize its reserve position.
