Pakistan Facing Major Economic Fallout Due To Iran War, Says PM Sharif

During a cabinet meeting, Prime Minister Shehbaz Sharif said the US-Iran war has dealt a serious blow to Pakistan's economic progress. He noted oil import bills rising from $300 million to $800 million and a weekly reduction in petroleum consumption. He announced a daily-monitored task force and stated Pakistan's plans to host a second round of US-Iran negotiations.

Iranian Foreign Minister Abbas Araghchi visited Pakistan with his delegation and held multiple rounds of talks, including a two-hour session with Prime Minister Shehbaz Sharif. He made two brief visits to Pakistan within 48 hours over the weekend, meeting with Field Marshal Munir and PM Sharif to discuss the regional situation, and also visited Muscat and Moscow during the weekend.

Trump reiterated that the US and Iranian officials can talk by phone for a peace solution to the conflict.

Trump extended the two-week ceasefire with Iran indefinitely to give Tehran more time to prepare a unified proposal to end the war.

Marathon talks between Iran and the US held in Islamabad lasted 21 hours and marked a significant diplomatic breakthrough. Pakistan contributed through officials including Field Marshal Asim Munir and Deputy Prime Minister Ishaq Dar. As a result, the ceasefire between Iran and the United States was extended and continues to hold.

The war began when the US and Israel jointly attacked Iran on February 28, killing Iranian Supreme Leader Ayatollah Ali Khamenei and several top commanders. Iran's retaliation extended the war to the Gulf region.