US-Iran war affected Pakistan's growth: PM Shehbaz

Prime Minister Shehbaz Sharif on Wednesday said that the US-Iran war has dealt a serious blow to Pakistan's economic progress made over the past two years, as he asserted that his government will continue its efforts to help ease tensions between the two warring sides and restore peace in West Asia. Speaking during a Cabinet meeting in Islamabad, Shehbaz said Pakistan's oil import bill had surged from USD 300 million before the conflict to USD 800 million, placing additional pressure on the economy. He also noted a reduction in petroleum consumption during the current week compared to the previous one. Shehbaz said a task force is monitoring the situation daily, according to an official statement.Shehbaz said a task force is monitoring the situation daily.

Pakistan's weekly oil bill nearly triples to $800m as Middle East conflict drives up prices: PM Sharif pic.twitter.com/KUeendYwnt

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Apprising the Cabinet about the progress made in the US-Iran talks and Pakistan’s efforts to ease tensions in the region, Shehbaz said Islamabad made sincere efforts to promote regional stability. He said that talks between Iran and the US started in Islamabad on April 11 and continued for 21 hours, adding that a ceasefire between the two sides is currently holding. He expressed hope that the conflict would end soon.