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News Desk

PM says US-Iran truce holds but war strains Pakistan economy

Published on: May 15, 2026 4:53 AM

Prime Minister Shehbaz Sharif said on Thursday that the US-Iran temporary ceasefire is currently in place, but the war has created significant hurdles for regional economies, including Pakistan.

The prime minister made these remarks while addressing a federal cabinet meeting in Islamabad.

Iran has largely shut the Strait of Hormuz to ships apart from its own since the United States and Israel launched their bombing campaign two-and-a-half months ago, causing the biggest ever disruption to global energy supplies. The US paused the bombing last month but added a blockade of Iran’s ?ports.

In his opening remarks at the meeting of the federal cabinet earlier in the day, the prime minister highlighted that the government’s economic team had made collective efforts over the past two years, which were coming to fruition, ensuring stability and preventing the need for rationing.

PM Shehbaz called for concerted national efforts to transform Pakistan into an economic power, urging the same level of dedication and resilience that enabled the country to achieve its status as a responsible nuclear state.

“This is a long and difficult journey. However, nations that commit to facing and overcoming their challenges are the ones that ultimately meet with success,” he remarked.

About the celebrations of the first anniversary of Marka-e-Haq on May 10, he said that a year ago, Almighty Allah had blessed the nation with grandeur due to the professional excellence of the armed forces and national unity.

“The forces, with utmost valour, taught the enemy a lesson they would never forget,” the prime minister remarked.

Looking ahead to the upcoming Youm-e-Takbeer on May 28, the prime minister emphasised that the nation remembered that day as the moment Pakistan achieved an impregnable defence in 1998.

He underscored that Pakistan’s nuclear assets were strictly for deterrence and defence, not offence that has earned the country global recognition as a responsible nuclear state.

PM Shehbaz paid rich tribute to the “heroes” of Pakistan’s nuclear journey, specifically crediting Zulfikar Ali Bhutto for initiating the program and Nawaz Sharif for its successful conclusion.

He also lauded the vital roles played by scientists, politicians, and national institutions in reaching this milestone.

Referring to the martyrdom of Liaquat, a resident of Attock, who was martyred after he confronted a suicide bomber, the prime minister said the government had posthumously conferred Sitara-e-Shujaat to recognise his sacrifice.

The sacrifices rendered by Pakistan in the fight against terrorism are unmatched, he added.

Later, the members of the federal cabinet offered fateha for the martyred souls who laid down their lives in various terror-related incidents across the country.

Filed Under: Pakistan Tagged With: Prime Minister Shehbaz Sharif, strains Pakistan economy, US-Iran

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