Peace deal puts Pakistan-Iran ties on new footing

June 19, 2026 (MLN): Pakistan and Iran are poised to enter a new era of prosperity and economic cooperation following the signing of the Islamabad Memorandum of Understanding between Iran and the United States.

Addressing the National Assembly, Prime Minister Shehbaz Sharif said Pakistan was being acknowledged worldwide for helping bring about the peace deal, describing it as a moment of pride for the nation and a reflection of the country's growing diplomatic stature.

He thanked Field Marshal Syed Asim Munir for his key role in regional peace efforts, and also acknowledged the contributions of Deputy Prime Minister and Foreign Minister Ishaq Dar and Interior Minister Syed Mohsin Naqvi.

He called on opposition parties to join the government in projecting national unity, saying the achievement belonged to the entire nation, APP reported.

Shehbaz Sharif said Iranian President Masoud Pezeshkian had telephoned him to thank Pakistan and its people for their support during a difficult period, and that he had extended an invitation to the Iranian president to visit Pakistan.

He added that President Pezeshkian had invited him to attend the funeral prayers of Iran's Supreme Leader Ayatollah Ali Khamenei, assuring that a Pakistani delegation would be present.

The prime minister expressed hope that the ceasefire and peace efforts would improve economic conditions in both countries, noting that international oil prices had declined considerably following the ceasefire.

He said the government had previously spent Rs128 billion to cushion the impact of rising fuel prices and inflation triggered by regional tensions, and that new petroleum prices  including a significant reduction in fuel rates  would be unveiled later in the day.

The prime minister also thanked Iran, the United States, Qatar, Saudi Arabia, Turkiye, and China for their roles in supporting the peace initiative, describing the diplomatic outcome as a historic moment for Pakistan.

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