Prime Minister Shehbaz Sharif stated that the ongoing conflict between Iran and the United States has dealt a significant blow to the collective economic efforts made over the past two years, while rising global prices have created an extraordinary and challenging situation.
Speaking after a cabinet meeting, he said that a ceasefire between Iran and the United States is currently in place, while a negotiation process between the two countries had begun in Islamabad on April 11, continuing for nearly 21 hours, with sincere efforts made to promote peace in the region.
He further noted that the tense situation has led to a noticeable increase in global oil prices, which has directly impacted Pakistan’s efforts toward economic stability and added to financial pressure.
According to the Prime Minister, Pakistan’s weekly oil import bill was around 300 million dollars before the conflict, but it has now surged to approximately 800 million dollars, presenting a serious challenge for the country’s economy.
