PM Shehbaz says US-Iran temporary truce holds but war strains Pakistan economy

ISLAMABAD: Prime Minister Shehbaz Sharif said on Thursday that although a temporary ceasefire between the United States and Iran was currently holding, the conflict had created major economic challenges for the region, including Pakistan.

Addressing a federal cabinet meeting in Islamabad, the prime minister said the war had disrupted regional economic activity and created hurdles for countries already facing global economic pressures.

Iran has largely restricted shipping through the Strait of Hormuz following the US and Israeli bombing campaign launched more than two months ago, significantly affecting global energy supplies and trade routes. The United States later paused its bombing campaign but maintained a blockade on Iranian ports.

In his remarks, PM Shehbaz said Pakistan’s economic team had worked collectively over the past two years to stabilise the economy and prevent severe crises, including shortages and rationing.

He stressed the need for national unity and determination to transform Pakistan into a strong economic power, saying the country required the same spirit and resilience that enabled it to become a responsible nuclear state.

“This is a long and difficult journey. However, nations that commit to facing and overcoming their challenges are the ones that ultimately meet with success,” the prime minister said.

Referring to the first anniversary celebrations of “Marka-e-Haq” held on May 10, the premier said Pakistan’s armed forces had displayed exceptional professionalism and bravery, adding that the nation remained proud of their sacrifices and achievements.

“The forces, with utmost valour, taught the enemy a lesson they would never forget,” he remarked.

Speaking about the upcoming Youm-e-Takbeer on May 28, PM Shehbaz said the nation remembered the day as the moment Pakistan achieved an “impregnable defence” through its nuclear capability in 1998.

He reiterated that Pakistan’s nuclear assets were strictly for deterrence and defence purposes and not intended for aggression, adding that this responsible approach had earned the country international recognition.

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The prime minister paid tribute to the figures associated with Pakistan’s nuclear programme, including former prime minister Zulfikar Ali Bhutto for initiating the programme and Nawaz Sharif for overseeing its completion.

He also praised the contributions of scientists, politicians and national institutions in strengthening the country’s defence capabilities.

PM Shehbaz further paid tribute to Liaquat, a resident of Attock who embraced martyrdom while confronting a suicide bomber, noting that the government had posthumously awarded him the Sitara-e-Shujaat in recognition of his sacrifice.

He said Pakistan’s sacrifices in the fight against terrorism were unmatched and later joined cabinet members in offering fateha for victims of terror incidents across the country.