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STRAIT OF HORMUZ REOPENS FOR COMMERCIAL SHIPPING AMID US-IRAN BREAKTHROUGH Saturday, 18 April, 2026 | 29 Shawwal, 1447
Rs 20.00 | Vol XVII No 23 | 8 Pages | Karachi Edition
g IRAN ANNOUNCES REOPENING OF STRATEGIC
g TRUMP CLAIMS PROGRESS TOWARD
g OIL MARKETS TUMBLE SHARPLY AFTER
g PAKISTAN-LINKED DIPLOMACY CITED
WATERWAY FOR COMMERCIAL VESSELS DE-ESCALATION SIGNALS
NEAR-FINAL US-IRAN AGREEMENT
IN BACKCHANNEL NEGOTIATIONS
Trump thanks PM Shehbaz, FM Asim Munir for role in de-escalation after Strait of Hormuz opening WASHINGTON
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TEHRAN
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HE Iranian Foreign Minister Abbas Araghchi on Friday announced the reopening of the Strait of Hormuz for all commercial shipping for the remaining period of a US-brokered ceasefire between Israel and Hezbollah, describing the move as part of coordinated de-escalation efforts linked to the truce between Israel and Lebanon. In a post on X, Araghchi said commercial vessels would be allowed passage through the strait under a coordinated maritime route already announced by Iran’s Ports and Maritime Organisation. He added that the move was consistent with the ceasefire
arrangement and aimed at ensuring safe passage during the truce period. US President Donald Trump also confirmed the development in a post on Truth Social, saying the strait was “fully open and ready for full passage.” However, in subsequent remarks, he said the US Navy’s blockade posture would remain in place until a final agreement with Iran was reached, though he indicated most negotiation points had already been settled. Trump later claimed Iran was cooperating in de-escalation measures, including removing or clearing sea mines from the strait, and said Tehran had agreed not to close the waterway again or use it as a geopolitical tool. He described the developments as a “great and brilliant day for the world,” while again
Trump aide lauds Pakistan's stabilising role as PM Shehbaz engages global leaders at Antalya Forum ANKARA
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An aide to Donald Trump appreciated Pakistan’s role in promoting regional stability during a meeting with Prime Minister Shehbaz Sharif on Thursday, as diplomatic efforts continue to ease tensions between the United States and Iran. Prime Minister Shehbaz, who arrived in Turkiye to attend the Antalya Diplomacy Forum, met Senior Adviser to the US President for Arab and African Affairs Massad Boulos on the sidelines of the event. According to a statement from the Prime Minister’s Office, Boulos conveyed greetings from President Trump and commended Pakistan’s constructive contributions to regional peace. He also reaffirmed Washington’s interest in expanding cooperation with Islamabad in areas such as counterterrorism, economic development, and global challenges. The prime minister, in response, conveyed his warm regards to President Trump and recalled their past interactions, while expressing appreciation for what he described as Trump’s “bold and decisive leadership” in facilitating last year’s ceasefire between Pakistan and India, as well as efforts leading to a ceasefire in Lebanon. Both sides discussed ongoing regional developments, including Pakistan’s diplomatic role in promoting dialogue, such as the Islamabad talks, and underscored the importance of strengthening bilateral ties, particularly in trade, economy, and multilateral cooperation. Earlier, upon arrival in Antalya, PM Shehbaz met Hakan Fidan, who welcomed his participation in the forum and conveyed that Recep Tayyip Erdoğan looked forward to meeting him. The prime minister thanked the Turkish leadership for its hospitality, describing Turkiye as his “second home.” On the sidelines of the forum, Deputy Prime Minister and Foreign Minister Ishaq Dar held a series of meetings with global counterparts.
Former US President Donald Trump has expressed gratitude to the leadership of Pakistan, including Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, for their reported role in supporting diplomatic efforts following developments linked to the reopening and easing of tensions around the Strait of Hormuz. In a tweet posted on social media site X, Trump wrote, " Thank You to Pakistan and its Great Prime Minister and Field Marshall, two fantastic people!!! President DONALD J. TRUMP," wrote President Trump. According to statements attributed to Trump, the United States President acknowledged Pakistan’s “constructive and stabilising contribution” during a sensitive phase of regional escalation in the Gulf, where fears of disruption to global maritime traffic had raised international concern. Trump reportedly appreciated Pakistan’s behind-the-scenes diplomatic
thanking Prime Minister Shehbaz Sharif and Field Marshal Asim Munir for their reported roles in facilitating negotiations. Despite the announcements, a senior Iranian official told Reuters that commercial shipping would still need coor-
engagement aimed at reducing tensions and encouraging dialogue among key regional stakeholders. He particularly noted the efforts of Prime Minister Shehbaz Sharif and Pakistan’s military leadership in supporting de-escalation initiatives. The development comes amid broader international efforts to ensure stability in the Strait of Hormuz, a critical global energy and shipping route that has historically been vulnerable during periods of Iran–US tension. Pakistan has repeatedly positioned itself as a facilitator of dialogue and regional peace. Islamabad has not officially issued a detailed statement on Trump’s remarks, but Pakistani officials have consistently emphasized diplomacy, restraint, and negotiated solutions as the preferred path to regional stability. The reported appreciation underscores Pakistan’s continued diplomatic engagement with major global powers at a time of heightened geopolitical uncertainty in the Middle East and surrounding waters.
dination with Iran’s Revolutionary Guards and that transit would be restricted to safe lanes designated by Tehran, while military vessels remained barred from crossing.
ConTinued on PAGe 03
PM Shehbaz appreciates President Trump's leadership in Lebanon ceasefire ISLAMABAD
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Prime Minister Muhammad Shehbaz Sharif on Friday lauded Donald Trump for his leadership in securing a ceasefire in Lebanon, as well as his role in helping defuse tensions between Pakistan and India last year when the two countries were on the brink of war. The prime minister expressed these views during a meeting with Massad Boulos, Senior Adviser to the US President for Arab and African Affairs, on the sidelines of the Antalya Diplomacy Forum in Türkiye, according to a statement issued by the Prime Minister’s Office. During the cordial interaction,
PM Shehbaz conveyed his warm regards to President Trump and recalled his past engagements with him. He reiterated his appreciation for what he described as Trump’s “bold and decisive leadership” that contributed to the ceasefire between Pakistan and India, and also praised his role in achieving a ceasefire in Lebanon. The two sides discussed ongoing regional developments, including Pakistan’s diplomatic efforts that helped facilitate ceasefire arrangements and the Islamabad talks aimed at promoting dialogue and stability. The prime minister highlighted the importance of sustaining these efforts to achieve lasting peace in the region. PM Shehbaz also stressed the need to further strengthen Pakistan-
US relations, particularly in the areas of economic and trade cooperation, as well as collaboration on key issues in multilateral forums. Massad Boulos conveyed greetings from President Trump and appreciated Pakistan’s constructive role in promoting regional stability. He reaffirmed Washington’s interest in expanding engagement with Islamabad in areas such as counter-terrorism, economic development, and addressing broader global challenges. The meeting was also attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Information Attaullah Tarar, and Special Assistant to the Prime Minister Syed Tariq Fatemi.
Aurangzeb thanks China for support on Pakistan’s IMF programme WASHINGTON, DC
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Finance Minister Muhammad Aurangzeb thanked China for its support in helping Pakistan’s engagements with the International Monetary Fund during a meeting with his Chinese counterpart on the sidelines of the World Bank Group and IMF Spring Meetings 2026, according to a statement issued by the finance ministry on Friday. Aurangzeb arrived in the United States on Monday to attend the Spring Meetings being held in Washington from April 13 to 18. The annual gathering has brought together finance ministers, central bank governors, policymakers and development experts from across the world at a time of continued global economic uncertainty. During his meeting with Chinese Finance Minister Lan Fo’an, Aurangzeb expressed appreciation for China’s long-term bilateral backing for Pakistan and also acknowledged the role played by China’s executive director at the IMF in facilitating Pakistan’s programme-related engagements, the ministry said. According to the ministry, Aurangzeb briefed Lan on Pakistan’s performance under the IMF programme. He said Pakistan had successfully concluded a staff-level agreement for the third review under the Extended Fund Facility and the second review under the Resilience and Sustainability Facility, with approval by the IMF executive board expected in early May. The finance minister also updated the Chinese side on progress regarding Pakistan’s first Panda bond issuance, which he said was part of the government’s effort to broaden financing avenues and strengthen engagement with international capital markets. The ministry said Aurangzeb also appreciated Lan’s acknowledgement of Pakistan’s active role in facilitating dialogue and promoting regional stability. He conveyed Pakistan’s full and unconditional support for the establishment of the Shanghai Cooperation Organisation Development Bank, particularly as Pakistan is set to assume the SCO presidency in September. He also thanked China’s executive directors at both the IMF and the World Bank for their continued support. Meetings with Moody’s and Chinese central bank chief Separately, Aurangzeb met representatives of Moody’s during the Spring Meetings and briefed them on Pakistan’s external financing position, the ministry said. He told the rating agency that Pakistan had met its Eurobond repayment obligations and was continuing to honour all creditor commitments on time. The ministry said he also highlighted financial support from Saudi Arabia, which is expected to further strengthen the country’s external position. In the same meeting, the finance minister outlined Pakistan’s medium-term plan to return to international capital markets, identifying key instruments under active preparation, including a Eurobond and a dollar-settled rupee-linked bond, as part of efforts to diversify financing sources The ministry added that Aurangzeb also briefed Moody’s on the government’s response to the ongoing regional crisis, saying steps had been taken to protect supply chains and implement full price pass-through, backed by targeted digital subsidies for vulnerable segments of the population.
Government cuts diesel by Rs32 after global oil prices tumble PROFIT
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The government on Friday announced a significant reduction in high-speed diesel prices, lowering the rate by Rs32.12 per litre to Rs353.43, down from Rs385.54, with the revised price set to take effect from midnight. Prime Minister Shehbaz Sharif approved the reduction and directed authorities to ensure that the benefit is transferred to consumers at the earliest.
The price cut follows a steep decline in international oil markets, where crude benchmarks recorded their sharpest singleday losses in over a month amid improving supply outlooks. Brent crude prices fell by nearly 13 percent, while U.S. West Texas Intermediate crude also posted significant losses after Iran announced that the Strait of Hormuz would remain open for commercial shipping during the duration of a ceasefire. The development eased concerns about potential disruptions to global energy sup-
plies through the strategic waterway, which handles a substantial share of the world’s oil and liquefied natural gas shipments. Analysts said the reopening of the Strait, coupled with expectations of possible progress in negotiations between the United States and Iran, prompted a swift repricing in energy markets. However, market participants cautioned that uncertainty persists regarding how quickly shipping volumes will normalize and whether the ceasefire will hold over the longer term.
Pakistan, Türkiye pledge stronger strategic partnership, push for regional peace at Antalya Forum ANTALYA
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Prime Minister Muhammad Shehbaz Sharif and Recep Tayyip Erdoğan on Friday held a wide-ranging meeting on the sidelines of the Antalya Diplomacy Forum, reaffirming their resolve to further deepen the strategic partnership between Pakistan and Türkiye, rooted in historic, fraternal ties and a shared commitment to peace and prosperity. The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Information Attaullah Tarar, and other senior Pakistani officials. On the Turkish side, Hakan Fidan and senior government representatives were present. President Erdoğan warmly welcomed Prime Minister Shehbaz and expressed appreciation for his participation in the highlevel forum, which has emerged as a key platform for global dialogue. He lauded Pak-
istan’s ongoing diplomatic initiatives aimed at de-escalation and peacebuilding in the region, assuring that Türkiye would continue to extend full support to Islamabad’s efforts for stability and dialogue. Prime Minister Shehbaz thanked President Erdoğan for the warm invitation and the traditional hospitality extended to him and his delegation. He congratulated the Turkish leadership on successfully hosting the forum, noting that the Antalya Diplomacy Forum had grown into an important international gathering for addressing pressing global challenges. During the meeting, the two leaders held detailed discussions on evolving regional dynamics, with particular focus on the situation in the Middle East. The prime minister shared Pakistan’s perspective on ongoing diplomatic engagements and briefed President Erdoğan on efforts to sustain the ceasefire and revive dialogue processes aimed at
achieving a comprehensive and lasting peace agreement. Both leaders emphasised the importance of utilising the current “window of opportunity” to advance peace initiatives and avoid further escalation. They underscored the need for coordinated diplomatic efforts and constructive engagement to ensure longterm regional stability. Reaffirming the deep-rooted and brotherly relations between Pakistan and Türkiye, the two sides expressed satisfaction over the positive trajectory of bilateral cooperation across multiple sectors. They agreed to convene the 8th session of the High-Level Strategic Cooperation Council (HLSCC) in Ankara later this year, a key institutional mechanism guiding bilateral engagement. The leaders also stressed the importance of accelerating the implementation of ongoing joint initiatives and exploring new avenues for enhanced economic cooperation,
including trade, investment, and connectivity. Both sides reiterated their commitment to
further strengthening economic ties as a cornerstone of the broader strategic partnership.