The ongoing conflict between the United States and Iran has severely impacted Pakistan’s economic growth achieved over the past two years. Prime Minister Shehbaz Sharif emphasized the situation during a recent cabinet meeting, revealing a significant spike in the country’s oil import bill, which surged from $300 million before the hostilities to $800 million, further straining the economy. He reported a notable decline in petroleum consumption this week compared to the last.
“Allah Almighty had placed our economy on a macro level, and we were growing in numbers, but as a result of this sudden war, our efforts made in the last two years have gone down. You and I have no say in this,” Sharif expressed. He reiterated the enormity of the economic challenge, stating, “If a week ago our bill was $300 million, today it has reached $800 million.”
In light of these escalating costs, Sharif announced that a dedicated task force is closely monitoring developments daily, highlighting the necessity of collective efforts to address the various challenges stemming from the conflict. He also underscored Pakistan’s unwavering commitment to regional stability, informing the Cabinet about the latest developments in the US-Iran negotiations and Islamabad’s active role in de-escalating tensions.
The Prime Minister revealed that protracted discussions between Iranian and American officials, which took place in Islamabad on April 11, represented a significant diplomatic achievement. The marathon talks lasted 21 hours, indicating Pakistan’s serious commitment to fostering dialogue. Sharif acknowledged the collaborative efforts of various officials, including Field Marshal Asim Munir and Deputy Prime Minister/Foreign Minister Ishaq Dar, in facilitating these negotiations, which have successfully extended the ceasefire between Iran and the United States.
During the cabinet meeting, Sharif shared insights from Iranian Foreign Minister Abbas Araghchi’s recent visit to Pakistan, where he engaged in multiple discussions, including an extensive two-hour meeting with the Prime Minister. “Before the Iranian foreign minister visited Russia, I spoke with him on the phone. He assured me that all his meetings in Oman were held with sincerity of intent and, after consultations with his leadership, he will give a positive response soon,” he noted, referencing Araghchi’s whirlwind diplomatic mission, which included stops in Islamabad, Muscat, and Moscow.
Plans are underway for Pakistan to host a second round of talks between the United States and Iran. The Iranian minister’s two brief visits to Pakistan over the weekend were significant, allowing for critical discussions on the regional landscape. Concurrently, US President Donald Trump reiterated the importance of communication, suggesting that American and Iranian officials could engage in phone discussions to find a peaceful resolution. Last week, Trump also announced an indefinite extension of the ceasefire with Iran, granting Tehran more time to prepare a unified proposal aimed at ending the conflict.
The war escalated dramatically after the US and Israel launched a joint attack on Iran on February 28, resulting in the deaths of Iranian Supreme Leader Ali Khamenei and several key commanders. Iran’s subsequent retaliation has intensified the conflict across the Gulf region, placing pressure not only on the involved nations but also on neighboring states like Pakistan, which aims to play a constructive role in restoring peace.
Keywords: Pakistan, US-Iran conflict, economic impact, oil import bill, regional stability, diplomatic negotiations, ceasefire, Shehbaz Sharif, Abbas Araghchi, Trump, Middle East tensions.
Original Source: https://timesofindia.indiatimes.com/world/pakistan/our-bill-has-reached-800-million-shehbaz-sharif-says-us-iran-war-causing-major-economic-blow-to-pakistan/articleshow/130621575.cms
Category :
Tags:
Publish Date: 2026-04-30 08:20:00
