Islamabad, Pakistan – Web Desk: Pakistan’s Prime Minister Shehbaz Sharif has said the US-Iran conflict has undermined two years of collective efforts aimed at ensuring regional peace and economic stability.
Addressing a federal cabinet meeting, Sharif stated that Pakistan had made sincere diplomatic efforts to promote peace in the region. He noted that a ceasefire between Iran and the United States is currently holding, while Pakistan continues to support initiatives aimed at maintaining stability.
However, he warned that the war has reversed progress achieved over the past two years. The prime minister highlighted the economic impact of rising global oil prices triggered by the conflict, describing the situation as “extraordinary” due to volatility in international energy markets.
Sharif revealed that Pakistan’s weekly oil import bill, which stood at approximately $300 million before the conflict, has surged to nearly $800 million. He added that the sharp increase in oil prices is placing additional strain on the country’s efforts to achieve economic stability.
The government is closely monitoring global developments as it seeks to manage the economic fallout while continuing diplomatic engagement for regional peace.
