ISLAMABAD (special crosspondent) – Prime Minister Shehbaz Sharif on Friday expressed his confidence that Pakistan and Iran are set to 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.

Global Recognition for Pakistan’s Role

Addressing the National Assembly, Shehbaz Sharif stated that Pakistan has earned global recognition for its pivotal role in facilitating the peace agreement, describing it as a moment of great 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 reflects the country’s growing diplomatic stature and constitutes a significant diplomatic triumph.

Acknowledging Key Contributions

The prime minister extended his gratitude to Chief of Army Staff General Syed Asim Munir for his key role in the efforts to establish peace in the region. He also acknowledged the significant contributions of Deputy Prime Minister and Foreign Minister Ishaq Dar and Interior Minister Syed Mohsin Naqvi. Furthermore, he called on opposition parties to join the government in projecting a message of national unity, emphasising that the success belonged to the entire nation.

Diplomatic Engagements and Future Visits

The prime minister informed the house that on Thursday, he received a telephone call from Iranian President Masoud Pezeshkian, who thanked Pakistan and its people for their support to Iran during a challenging period. PM Shehbaz Sharif said he invited the Iranian president to visit Pakistan, assuring him that the entire nation would warmly welcome him. He added that President Pezeshkian also extended a reciprocal invitation. Mr. Sharif also noted that a Pakistani delegation would attend memorial services for Iran’s late President Ebrahim Raisi and his companions.

Economic Impact and Relief for Citizens

Mr. Sharif expressed hope that the ceasefire and peace efforts would significantly improve economic conditions in both countries. He highlighted that international oil prices had already declined significantly following the ceasefire. He recalled that the government had previously spent Rs128 billion to mitigate 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, which would include a significant reduction in fuel rates for the public.

International Cooperation

In his concluding remarks, the prime minister thanked the provincial governments for their cooperation in managing the economic challenges. He also acknowledged the supportive roles played by Iran, the United States, Qatar, Saudi Arabia, Turkiye, and China in 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.