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The Iran Wars "Major" Economic Repercussions for Pakistan: Shehbaz Sharif

On Wednesday, Prime Minister Shehbaz Sharif declared that his government will keep working to reduce tensions between the two warring parties and bring peace back to West Asia, claiming that the US-Iran war has seriously damaged Pakistan's economic growth over the last two years.
Speaking at a Cabinet meeting here, Shehbaz claimed that Pakistan's oil import bill had increased from $300 million prior to the conflict to $800 million, further straining the country's finances. Additionally, he saw that this week's petroleum use was lower than last week's.

According to an official release, Shehbaz stated that a task force is keeping an eye on the issue every day.
He stated that in order to address the issues, teamwork is required.
Shehbaz informed the Cabinet about the developments in the US-Iran negotiations and Pakistan's attempts to reduce regional tensions, stating that Islamabad made genuine efforts to advance regional stability.
He emphasised that the 21-hour marathon negotiations between the US and Iran on April 11 in Islamabad represented a major diplomatic breakthrough.According to Shehbaz, Field Marshal Asim Munir, Deputy Prime Minister/Foreign Minister Ishaq Dar, and other high-ranking officials contributed to Pakistan's genuine and concerted efforts for the negotiations' success.
He pointed out that the ceasefire between Iran and the United States was extended and is still in place as a result of their efforts.
Iranian Foreign Minister Abbas Araghchi visited Pakistan with his delegation and had many rounds of talks, including a two-hour meeting with him, the prime minister told the cabinet.According to him, Araghchi promised that Iran will react favourably following discussions with its leadership.He mentioned Araghchi's quick trips to Moscow, Islamabad, and Muscat over the weekend. "I spoke with the Iranian foreign minister on the phone prior to his visit to Russia, and he assured me that all his meetings in Oman were held with sincerity of intent, and after consultation with his leadership...he will give a positive response soon," he said.
He said he hoped the war would soon come to an end.
A second round of negotiations between the US and Iran is scheduled to take place in Pakistan.
Over the weekend, the Iranian minister visited Pakistan twice in a 48-hour period and met with PM Shehbaz and Field Marshal Munir to discuss the regional situation.

Trump reaffirmed on Sunday that phone conversations between US and Iranian officials may lead to a peaceful resolution to the conflict.
In order to give Tehran more time to draft a cohesive proposal to end the conflict, Trump last week extended the two-week ceasefire with Iran indefinitely.
On February 28, the US and Israel launched a coordinated strike on Iran, murdering Ayatollah Ali Khamenei, the country's supreme leader, as well as a number of senior officials. This marked the start of the war. The war spread throughout the Gulf region as a result of the Islamic Republic's counterattack.