Pakistan’s Diplomacy Opens New Chapter with Iran, PM Shehbaz Declares
ISLAMABAD, Jun 19 (APP):Prime Minister Shehbaz Sharif on Friday expressed confidence that Pakistan and Iran would enter a new era of prosperity, economic cooperation and stronger bilateral relations following the signing of the Islamabad Memorandum of Understanding (MoU) between Iran and the United States.
Addressing the National Assembly, Shehbaz Sharif said Pakistan had earned global recognition for its role in facilitating the peace agreement, calling it a moment of pride for the nation.
“Pakistan is being acknowledged around the world for helping bring about this peace deal,” the prime minister said, adding that the achievement reflected the country’s growing diplomatic stature.
The prime minister thanked Field Marshal Syed Asim Munir for playing a key role in efforts to establish peace in the region. He also acknowledged the contributions of Deputy Prime Minister and Foreign Minister Ishaq Dar and Interior Minister Syed Mohsin Naqvi.
He also called on opposition parties to join the government in projecting a message of national unity, saying the success belonged to the entire nation.
The prime minister informed that yesterday, he received a telephone call from Iranian President Masoud Pezeshkian, who thanked Pakistan and its people for supporting Iran during a difficult period.
PM Shehbaz Sharif said he invited the Iranian president to visit Pakistan and told him that the entire nation will warmly welcome him upon his arrival in Pakistan. He added that Pezeshkian also invited him to participate in the funeral prayers of Iran’s Supreme Leader, Ayatollah Ali Khamenei. He assured that a Pakistani delegation would attend the funeral.
PM Shehbaz Sharif expressed hope that the ceasefire and peace efforts would improve economic conditions in both countries. He noted that international oil prices had declined significantly following the ceasefire.
He said the government had previously spent Rs128 billion to control the impact of rising fuel prices and inflation triggered by regional tensions. He announced that the government would unveil new petroleum prices later in the day, including a significant reduction in fuel rates.
The prime minister thanked provincial governments for their cooperation in managing economic challenges and acknowledged the roles played by Iran, the United States, Qatar, Saudi Arabia, Turkiye and China in supporting the peace initiative.
He described the diplomatic achievement as a historic moment for Pakistan and expressed gratitude for the international respect the country had received.
Prime Minister Muhammad Shehbaz Sharif’s important statement regarding oil prices after the establishment of regional and global peace thanks to Pakistan’s mediation
Islamabad, June 18, 2026: Prime Minister Muhammad Shehbaz Sharif has announced a major reduction in petroleum prices, stating that the government is immediately passing on the benefits of lower global oil prices and improving regional economic conditions to the people.
Addressing the nation, the Prime Minister said the price of petrol has been reduced by Rs74 per litre, bringing it down from Rs373 to Rs299, while high-speed diesel has been cut by Rs67 per litre, reducing its price from Rs378 to Rs311 per litre.
The Prime Minister said the government was fulfilling the promise it had made to the nation and thanked the people for their patience and resilience during a difficult economic period.
He noted that since the beginning of the crisis, the government had made every possible effort to minimize the burden of rising fuel prices on the public. According to the Prime Minister, the federal government provided Rs129 billion in relief by utilizing development funds and implementing austerity measures.
Shehbaz Sharif highlighted that despite regional economic challenges, Pakistan successfully avoided an energy crisis through effective planning. Unlike some countries that introduced fuel rationing, Pakistan maintained uninterrupted supplies, preventing shortages and long queues at fuel stations.
The Prime Minister also acknowledged the cooperation of provincial governments in maintaining economic stability and thanked the chief ministers for their support. He said the government continued to protect citizens from global inflation through subsidies and targeted relief measures for vulnerable segments of society.
Emphasizing that providing maximum relief to the people remains the government’s top priority, he reaffirmed his commitment to maintaining economic stability and further reducing inflation.
Referring to regional developments, the Prime Minister said peace in the Middle East became possible through Pakistan’s mediation, leading to the signing of the Islamabad Memorandum of Understanding, which he described as a historic achievement.
He congratulated Field Marshal Syed Asim Munir, praising his professional leadership and tireless efforts in facilitating the peace agreement. The Prime Minister also paid tribute to Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Interior Minister Syed Mohsin Raza Naqvi, and the entire government team involved in the diplomatic initiative.
He further commended the economic team, including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervez Malik, the Finance Secretary, Petroleum Secretary, and Chairman FBR, for their efforts in steering the country through the economic crisis.
