ISLAMABAD – Pakistan government has lifted the sanctions on Iran pursuant to United Nations Security Council Resolution 2231. The modalities for lifting of sanctions were finalised in an inter-ministerial meeting chaired by Minister for Finance and Economic Affairs Senator Ishaq Dar. The formal notification issued by the Ministry of Foreign Affairs, following the meeting, will revive economic and commercial relationship between Pakistan and Iran, including the areas of trade, investment, technology, banking, finance, energy. All previous notifications giving effect to UN Security Council sanctions on Iran stand repealed with the issuance of the new notification by the Ministry of Foreign Affairs, in keeping with the Security Council resolution 2231. Pakistan had welcomed the Joint Comprehensive Programme of Action (JCPOA) agreed between Iran and European Union, People’ Republic of China, United States, Germany France, United Kingdom and the Russian Federation. It appreciates the steps taken by Iran for the implementation of the JCPOA. With the lifting of restrictions, economic and trade relations between the two neighbourly countries will receive a new boost. It will enable the two countries to fully reinvigorate various bilateral and multilateral arrangements for promoting investments and cooperation in across all sectors including banking, finance, industry and energy.