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Tuesday, 14 April, 2026 | 25 Shawwal, 1447
Rs 20.00 | Vol XVII No 19 | 8 Pages | Karachi Edition
PAKISTAN CREDITS DIPLOMACY FOR US-IRAN CEASEFIRE, VOWS CONTINUED MEDIATION EFFORTS
g PM LAUDS PAKISTAN’S ROLE IN BRINGING
g CEASEFIRE HOLDS DESPITE DEADLOCK IN
P
g SHEHBAZ VOWS CONTINUED DIPLOMATIC
US, IRAN TO TALKS AFTER DECADES
g GLOBAL LEADERS, INCLUDING JAPAN PM,
PRAISE PAKISTAN'S MEDIATION EFFORTS
MARATHON ISLAMABAD NEGOTIATIONS PUSH FOR LASTING US-IRAN PEACE
ISLAMABAD Mian abrar
RIME Minister Shehbaz Sharif on Monday expressed satisfaction over progress in negotiations between the United States and Iran, saying Pakistan would continue to play an active role in resolving the conflict through diplomacy. Addressing a federal cabinet meeting, the prime minister said Pakistan’s leadership had made “full contributions” toward peace, highlighting that the two sides came to the negotiating table after decades of hostility. “Our sincere efforts resulted in a ceasefire between the United States and Iran,” he said, adding that the truce remained in place despite ongoing challenges in reaching a comprehensive agreement. Shehbaz Sharif commended Foreign Minister Ishaq Dar and Chief of Army Staff Field Marshal Asim Munir for their role in facilitating dialogue, noting that the negotiations had, at times, come close to collapse. “It is a matter of pride for the nation that Pakistan played a mediating role between the two countries,” he said, adding that global leaders had acknowledged Is-
lamabad’s diplomatic efforts. The prime minister also informed the cabinet about his upcoming visit to Saudi Arabia and recent engagements with friendly nations, where discussions are expected to focus on the evolving Middle East situation and the progress of USIran talks. The remarks came a day after marathon negotiations between Washing-
Fitch affirms Pakistan’s ‘B-’ rating with stable outlook ISLAMABAD
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ton and Tehran concluded in Islamabad without a formal agreement, though both sides signalled willingness to continue engagement. The talks, spanning nearly 24 hours, transitioned from indirect exchanges to rare face-to-face discussions, reflecting both the complexity of the dispute and the urgency of de-escalation. For Pakistan, hosting the talks marked both a diplomatic risk and an op-
portunity to reassert its role on the global stage. In a statement following the negotiations, Ishaq Dar thanked both sides for agreeing to a ceasefire and participating in dialogue. International appreciation for Pakistan’s role has continued to pour in. In a telephone conversation, Japanese Prime Minister Sanae Takaichi praised Islamabad’s efforts, calling them vital for regional stability and global energy security. According to the Prime Minister’s Office, Shehbaz Sharif thanked the Japanese leader for her support and reiterated Pakistan’s commitment to ensuring the ceasefire holds. Both sides also expressed a desire to further strengthen bilateral cooperation and maintain close coordination. The Islamabad talks were held after weeks of intense conflict that resulted in heavy casualties and rising global economic concerns. Despite the absence of a breakthrough, the dialogue marked a rare moment of direct engagement between the US and Iran, leaving the door open for future negotiations. Pakistan has pledged to continue its diplomatic efforts to sustain the ceasefire and push both sides toward a lasting political resolution.
Aurangzeb outlines reform drive, pushes export-led growth at Harvard moot ISLAMABAD
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Fitch Ratings has affirmed Pakistan’s long-term foreign currency issuer default rating at ‘B-’ and maintained a stable outlook, saying the decision reflects progress in fiscal consolidation and broader macroeconomic stabilisation measures that are largely aligned with the country’s International Monetary Fund (IMF) programme. In its assessment issued on Monday, the US-based rating agency said Pakistan’s policy steps were supporting its funding capacity. It added that foreign exchange buffers rebuilt over the past year were providing some protection against the economic effects of the war in the Middle East. Fitch also said Pakistan’s role as a ceasefire broker could bring tangible benefits and partly ease external pressures. At the same time, the agency identified Pakistan’s exposure to global energy price shocks as a major risk, particularly if such pressures result in a sharp decline in foreign exchange reserves. IMF programme and fiscal outlook Fitch said Pakistani authorities reached a staff-level agreement with the IMF on loan programmes in March, unlocking a combined $1.2 billion. According to the agency, the IMF programme will remain an important policy anchor, especially for the fiscal framework, and is expected to help attract further multilateral and bilateral support. The rating agency said Pakistan remains vulnerable to energy-related disruptions. It noted that the country sources up to 90 per cent of its oil from the Gulf and has limited storage capacity, leaving it highly exposed to the Middle East conflict and any tightening of energy supply through the Strait of Hormuz. Fitch said fuel subsidies introduced since early March had been financed through the reallocation of spending from other parts of the budget. It added that the cost had been reduced through significant increases in pump prices and a shift to a more targeted support mechanism from April. ‘We expect the overall impact on the fiscal deficit to be contained, as the government is likely to cut other spending,’ the agency said.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday highlighted Pakistan’s economic reform agenda, stressing the need for structural changes and export-led growth while speaking at a highlevel discussion hosted by Harvard University. Participating in a panel titled “Pakistan’s Economic Agenda: Stability, Reform and What Comes Next” during the Pakistan Conference 2026, the minister outlined key policy priorities aimed at ensuring long-term stability and sustainable growth. The session, moderated by former State Bank governor Dr Reza Baqir, featured prominent economists including Professor Atif Mian of Princeton University and Nobel laureate Professor Daron Acemoglu of the Massachusetts Institute of Technology. It brought together policymakers, academics, and members of the Pakistani diaspora to examine the country’s economic outlook. Aurangzeb described the ongoing Middle East conflict as a major global supply shock, noting that Pakistan’s immediate focus had been to maintain uninterrupted energy supplies despite limited reserves. He said the government initially introduced blanket subsidies to shield consumers from rising costs, later shifting to targeted support in line with fiscal constraints. He maintained that Pakistan
had managed the situation comparatively well, avoiding major supply disruptions or law and order issues. On the external front, the minister pointed to strong debt management, describing the recent Eurobond repayment as a “nonevent,” and expressed confidence in meeting upcoming obligations. Highlighting emerging opportunities, he noted a surge in transit trade through Karachi Port, surpassing last year’s volumes within weeks, alongside progress in operationalising Gwadar Port. He also cited record inflows under the Roshan Digital Account initiative as a sign of growing confidence among overseas Pakistanis. However, Aurangzeb cautioned that remittances alone cannot sustain long-term growth, emphasising the need to boost exports and expand trade in services. Reflecting on reform challenges, he said Pakistan has long
understood the need for economic reforms, but implementation and timely decision-making remain key hurdles, contributing to repeated reliance on IMF programmes. He reaffirmed the government’s commitment to reforms, including broadening the tax base, improving tax administration, and raising the tax-to-GDP ratio. Efforts are underway to modernise the Federal Board of Revenue through digitisation and automation to enhance transparency and efficiency. The minister also called for moving away from subsidy-driven industrial support toward competitiveness, highlighting recent tariff rationalisation measures aimed at integrating Pakistan into global markets. On energy, he noted that solar power generation has reached around 8,000 megawatts, helping cushion the economy against external shocks, with plans to expand renewable capacity further.
Pakistan reaffirms diplomatic role as China praises Islamabad Talks on US-Iran Conflict ISLAMABAD
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Deputy Prime Minister and Foreign Minister Ishaq Dar on Monday reiterated Pakistan’s commitment to diplomacy as he met Chinese Ambassador Jiang Zaidong, with both sides discussing recent developments following the Islamabad talks, the Foreign Ministry said. In a post on X, the ministry noted that Dar reaffirmed Pakistan’s resolve to promote dialogue, while Ambassador Jiang lauded Islamabad’s role in facilitating direct negotiations between the United States and Iran. Both sides also reaffirmed the strength of the Pakistan–China All-Weather Strategic Cooperative Partnership. Separately, Dar chaired a meeting with Foreign Secretary Amna Baloch and senior foreign ministry officials, commending their efforts in organising the high-stakes Islamabad talks. An official statement said Dar appreciated the team’s professionalism in facilitating dialogue between Washington and Tehran, calling it a key step toward constructive engagement and regional stability. Senior officials from the United States and Iran had arrived in Islamabad on Saturday for negotiations following a six-week conflict that caused heavy casualties and strained the global economy. Although the talks concluded without a formal agreement, Dar stressed the importance of maintaining the ceasefire, urging both sides to uphold their commitments. Pakistan’s role as a mediator drew widespread appreciation. US Vice President JD Vance praised Prime Minister Shehbaz Sharif and Chief of Army Staff Field Marshal Asim Munir as “incredible hosts,” noting Pakistan’s efforts to bridge differences. US President Donald Trump also acknowledged Pakistan’s leadership in facilitating the talks, describing Sharif and Munir as “extraordinary men.”
Iran blames US for collapse of Islamabad Talks as maritime blockade announced ISLAMABAD
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Iran on Monday accused the United States of derailing near-finalised negotiations in Islamabad, saying the two sides had been close to reaching an agreement before talks broke down. In a statement, Iranian Foreign Minister Abbas Araghchi said Tehran had engaged in the dialogue “in good faith” to end the war, claiming both sides were “just inches away” from finalising an “Islamabad MoU.” He alleged that the process was disrupted by “maximalism, shifting goalposts and a blockade” from the US side, warning that goodwill must be reciprocated. “Good will begets good will. Enmity begets enmity,” he said. The remarks came shortly after US Central Command (CENTCOM) announced it would begin enforcing a blockade on maritime traffic entering and leaving Iranian ports, while exempting vessels transiting the Strait of Hormuz to and from non-Iranian destinations. The latest round of US-Iran talks in Islamabad, mediated by Pakistan, concluded without a breakthrough despite multiple sessions and exchanges of proposals.
Trump warns of 'eliminating' Iranian ships as US naval blockade on Strait of Hormuz begins WASHINGTON reuterS
The United States Naval blockade begins in the Strait of Hormuz after the deadline of 7 pm (10 am ET). A blockade was imposed on all the ships entering or leaving Iranian ports. After the deadline, Trump warned on the Truth Social platform about the blockade. " If any of these ships come anywhere close to our blockade, they will be immediately eliminated," he wrote. "Iran’s Navy is laying at the bottom of the sea, completely obliterated - 158 ships. What we have not hit are their small number of, what they call, “fast attack ships,” because we did not consider them much of a threat. Warning: If any of these ships come anywhere close to our blocked, they will be immediately eliminated, using the same system of kill that we use against the drug dealers on boats at Sea. It is quick and brutal. P.S. 98.2% of Drugs coming into the US by ocean or sea have stopped!" he said. Earlier, the US military said it will begin a blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday, after weekend talks failed to reach a deal to end the war with Iran, jeopardising
a fragile two-week ceasefire. Meanwhile, the unified command of the Iranian armed forces said the ports in the Arabian Gulf and the Sea of Oman are “either for everyone or for no one," state broadcaster IRIB reported, according to Al Jazeera. “The Armed Forces of the Islamic Republic of Iran consider defending the legal rights of our country a natural and legal duty, and ac-
cordingly, exercising the sovereignty of the Islamic Republic of Iran in the territorial waters of our country is the natural right of the Iranian nation,” IRIB cited Iran’s forces as stating. Al Jazeera reported that the forces' statement read “Enemy-affiliated vessels” will have the right to pass through the Strait of Hormuz, while other vessels will be allowed passage, subject to regulations by Tehran.
China warns against Hormuz blockade, urges ceasefire through diplomacy BEIJING
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China on Monday cautioned against any blockade of the Strait of Hormuz, warning that such a move would undermine global interests, while calling for an immediate ceasefire between the United States and Iran through political and diplomatic means. Chinese Foreign Minister Wang Yi made the remarks during a meeting in Beijing with Khaldoon Khalifa Al Mubarak, special envoy of the UAE president, who is accompanying Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on an official visit to China. Wang emphasised that ensuring stability in the Strait of Hormuz — a key global artery for energy supplies and trade — is vital for the international community. He stressed that a comprehensive and lasting ceasefire remains the only viable path to resolving the ongoing crisis.
Earlier, Chinese Foreign Ministry spokesperson Guo Jiakun echoed similar concerns while responding to reports that US President Donald Trump had announced plans for the US Navy to block vessels entering or leaving the strait following the collapse of US-Iran talks. Guo described the Strait of Hormuz as a crucial international shipping corridor and warned that any disruption to navigation could have far-reaching consequences for global trade and energy markets. He linked rising tensions in the strategic waterway to the ongoing conflict between Washington and Tehran, noting that instability in the region stems directly from the absence of a diplomatic breakthrough. Calling for restraint, Guo urged all parties to avoid escalation and prioritise dialogue. He reiterated China’s position that an early ceasefire is essential and affirmed Beijing’s willingness to play a constructive role in facilitating peace efforts.