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ISLAMABAD:&nbsp;Pakistan has formally relaunched land trade with Iran under a revived transit arrangement through the newly established Jeerak Customs Station at the Pakistan-Iran border in District Panjgur, according to a Customs notification. Pakistan dispatched its first refrigerated sealed cargo under Transports Internationaux Routiers (TIR) from Karachi&#39;s Burma Oil Mills Limited Container Freight Station. The TIR is an international customs transit system that simplifies and accelerates the movement of goods across borders by allowing sealed vehicles to transit countries without costly, time-consuming inspections. The relaunch ends a suspension that began June 15, 2025, when Pakistan closed border crossings across five Balochistan districts, Chaghi, Washuk, Panjgur, Kech, and Gwadar, following Israeli strikes on Iranian military and nuclear sites, according to AFP. The Pakistan Foreign Office had clarified on June 18, 2025, that key routes, including Taftan, remained operational despite the closures. The revival builds on sustained bilateral engagement. Pakistan and Iran signed trade facilitation MoUs in January 2023, and during then-President Ebrahim Raisi&#39;s April 2024 visit, both countries set a target of raising bilateral trade to $10 billion within five years. The formal groundwork for the current relaunch was laid during ministerial talks on the sidelines of the OIC Transport Ministers&#39; Conference in Istanbul, where Federal Minister for Communications Abdul Aleem Khan met Iran&#39;s Minister for Roads and Infrastructure, Farzaneh Sadegh, according to a Ministry of Communications press release dated Feb. 13. Both ministers addressed bottlenecks at the Pak-Iran border, where the daily crossing capacity currently stands at 200 trucks, according to the press release. Both sides agreed it could be raised to between 800 and 1,000 trailers.&nbsp; Discussions covered border parking infrastructure, bilateral arrangements, and coordination between the Federal Bureau of Revenue, the Ministry of Commerce, and customs authorities.

Iranian cargo trucks cross into the Pakistan-Iran border at Taftan, Balochistan province on June 18, 2025. (AFP)

Economy

Pakistan has resumed land trade with Iran, sending its first refrigerated cargo via the Jeerak customs station after a suspension in June 2025. It is restoring transit routes and planning border capacity expansion.

Pakistan, Iran relaunch land trade after months-long suspension

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif chaired a review meeting on Monday on Pakistan&rsquo;s petroleum reserves amid regional tensions, noting that there have been no oil shortages in the country despite the situation in the Middle East, according to a statement from the Prime Minister&#39;s Office (PMO).&nbsp;&ldquo;The Prime Minister directed to continue constant monitoring of oil consumption in the country,&rdquo; the PMO said.&nbsp;During the meeting, PM Sharif said that due to constant monitoring of oil consumption and reserves and a better strategy, the steps taken to provide relief to the people will continue. PM Sharif was briefed about the arrangements made for the import of oil in view of future requirements.&nbsp;&ldquo;The briefing stated that there is an adequate quantity of petroleum products in the country, but it is necessary to maintain thriftiness for savings,&rdquo; it added.&nbsp;Earlier, the remarks come as tensions across the Middle East continue to surge following US and Israeli strikes on Iranian targets that triggered retaliatory missile and drone attacks across the region, raising fears of a wider conflict involving multiple countries and key global energy routes.&nbsp;The meeting was attended by Pakistan&rsquo;s Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Information and Broadcasting Attaullah Tarar, and other senior officials.

Supplies are adequate with continued monitoring and import planning.

PM Sharif reviews country’s petroleum reserves, says no shortage

ISLAMABAD: Pakistan achieved consecutive positive credit ratings from Fitch Ratings for the first time in years on Monday. This development comes as the country&#39;s foreign exchange reserves have nearly doubled, inflation has declined, and borrowing costs have reached their lowest levels in recent memory. These significant improvements would have been hard to predict when the nation was on the brink of default in 2023. Fitch upgraded Pakistan from &#39;CCC+&#39; to &#39;B-&#39; in April 2025. This year, it affirmed that rating with a &quot;Stable Outlook,&quot; a result that shows that last year&#39;s gains were not a one-off. The reserve picture alone marks a transformation. Gross foreign exchange reserves stood at less than $8 billion in early 2023. By March 2025, they had recovered to just under $18 billion. By February, they reached $28.4 billion, with non-gold reserves rising $5.1 billion year-on-year to $17.5 billion. Inflation has undergone an equally steep reversal. Consumer prices averaged above 23% in FY24. Fitch projected 5% for FY25. The FY26 forecast of 7.9% is higher, driven by global energy pressures, but it remains a fraction of where Pakistan stood two years ago. The State Bank of Pakistan cut its policy rate from 22% in May 2024 to 12% by early 2025, then to 10.5% by the end of 2025. Market rates fell in tandem, easing costs across the economy and helping push GDP growth from 3% in FY25 to a projected 3.1% in FY26. Fiscal gains have compounded. Pakistan&#39;s primary surplus more than doubled in FY25, exceeding 2% of GDP. It is projected at 2.1% in FY26. Government debt as a share of GDP is forecast to fall to 68.9% in FY26 from 70.7% in FY25. Provincial governments have legislated increases in agricultural income tax, a structural benchmark that was unresolved at the time of the 2025 upgrade. Pakistan has also deepened its relationship with the IMF considerably. One program review had been completed when Fitch issued last year&#39;s upgrade. Three have now been completed, and a March staff-level agreement is set to unlock a combined $1.2 billion pending board approval. Risks remain real. Pakistan sources up to 90% of its oil from the Gulf, leaving it exposed to the Middle East conflict and potential disruptions in the Strait of Hormuz. External debt amortizations are expected to rise to $12.8 billion in FY26 from roughly $8 billion in FY25. Fitch said a downgrade would follow a sharp drawdown in reserves or fiscal slippage. An upgrade requires sustained reserve gains and structural improvements in tax revenue.

Pakistanis shop at a market for the Eid al-Fitr celebrations during the last week of the Islamic holy fasting month of Ramadan in Karachi on March 17, 2026. (AFP)

Fitch maintained Pakistan’s B- rating with a 'Stable Outlook' as reserves rose to $28.4 billion, inflation eased, interest rates fell, and fiscal balances improved.

Pakistan posts back-to-back credit wins as economy improves

ISLAMABAD: Pakistan&rsquo;s mission in Beijing and the China International Cultural Communication Center jointly hosted a cultural gala in the Chinese capital to mark 75 years of diplomatic relations between the two countries. According to a statement from the Pakistan embassy, the event drew diplomats, media representatives, business figures and members of creative fields to recognize decades of bilateral engagement. Pakistan&rsquo;s Ambassador to China, Khalil Hashmi, said successive generations of leadership on both sides had shaped a relationship built on trust, respect and support. He said people-to-people contact remained central, with cultural exchange helping sustain ties over time. Long Yuxiang, Executive Chairman of the China International Cultural Communication Center, said cultural exchange has played a key role in deepening understanding and communication between societies. Zhai Meiqing, President of Xiangjiang Group, said cultural and creative industries contribute to stronger links between communities and closer people-to-people engagement. The program included stage performances featuring artistic collaboration. A joint performance in Urdu and Chinese by Pakistani artist Natasha Baig was among the highlights. The gala was part of a wider series of events marking 75 years of diplomatic relations between Pakistan and China.

The Embassy of Pakistan and the China International Cultural Communication Center (CICCC) co-hosted a Star Gala in Beijing to mark 75 years of diplomatic relations between Pakistan and China. (Pakistan Embassy China/Facebook)

Foreign Affairs

Officials, diplomats and cultural representatives gather in Beijing for a gala featuring performances and remarks on bilateral ties and cultural exchange marking 75 years of relations between the countries.

Pakistan, China mark 75 years of diplomatic relations in Beijing Gala

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Monday said that the US-Iran ceasefire remains in place while all efforts are underway to resolve any matters that are &ldquo;slightly stalled.&rdquo; The prime minister said this while briefing the federal cabinet on the regional situation and Pakistan&rsquo;s efforts for peace, according to a statement from the Prime Minister&#39;s Office (PMO). Sharif said this was the first time in 47 years delegates from the two sides had sat face-to-face, a result of Pakistan&#39;s &ldquo;sincere efforts.&rdquo; The cabinet appreciated the efforts of Foreign Minister Ishaq Dar and Chief of Defense Forces Field Marshal Syed Asim Munir for their admirable roles during the talks.&nbsp; The prime minister described the historic Islamabad talks as a source of pride for the country&rsquo;s 240 million people, saying that Pakistan&rsquo;s sincere, positive, and historic role has elevated its global stature, according to APP. He noted that there were several moments during the negotiations when talks nearly broke down but were then restored.&nbsp; Lasting peaceAccording to an APP report, the prime minister said that the Islamabad talks provided Pakistan an opportunity to turn the ceasefire into lasting peace. He referred to historical examples such as the Oslo, Geneva, and Good Friday agreements, noting that in many cases, including Sudan and other regions, it took months or years to establish ceasefires and peace, according to AFP. In contrast, in Islamabad, US and Iranian delegations held direct, face-to-face talks for 21 hours, which the PM said he personally witnessed, said APP.

Security

The prime minister describes the historic Islamabad talks as a source of pride for the country’s 240 million people, saying that Pakistan’s sincere, positive, and historic role has elevated its global stature.

All efforts underway to resolve 'slightly stalled' US-Iran matters, says PM Sharif

LONDON: Traffic through the Strait of Hormuz remained virtually paralyzed Monday by weeks of war, with little sign of relief as Washington&#39;s deadline for US forces to blockade Iranian ports passed. The crucial waterway normally handles about a fifth of global crude oil and liquefied natural gas (LNG) but has been heavily disrupted since the US and Israeli strikes on Iran on February 28 sparked the Middle East Ear. Here is what we know about the situation in the strait: Limited traffic Just 58 commodities carriers have passed through the Strait of Hormuz since a US-Iran ceasefire took effect on Wednesday, according to maritime data provider Kpler. Crossings remain approximately 90% below peacetime levels, with no significant increase observed since the ceasefire. The overwhelming majority of ships crossing were either coming from or going to Iran, or displayed ties with countries not hostile to the country. Of the 376 passages by commodity carriers from March 1 to April 13, 244 were by oil and gas tankers, and most were heading east away from the Gulf, Kpler data showed. Vessels stuck Around 670 commodity vessels sent signals from west of the strait on Sunday, having apparently been stuck there since the end of February, according to data from maritime companies collated by Bloomberg. Of those, 329 were oil or gas tankers. Kpler said last week that 172 million barrels of crude and refined products were at sea in the Gulf as of April 7. The latest vessels to leave the Gulf on Monday were the Auroura, owned by an India-based company and carrying 38,287 tons of naptha from Iran, and the New Future, owned by a China-based firm and carrying 44,424 tons of gas oil from the UAE, according to Kpler. The Auroura is under US sanctions for transporting Iranian petroleum products. More than 50 very large crude carriers are stuck in the Gulf &ndash; including nine owned by Japanese companies and five each by companies from China, Greece and South Korea, according to Bloomberg data and other maritime companies. Just one empty LNG tanker has crossed the strait during the war. A third of the world&#39;s fertilizers usually transit the strait, and the disruption has prompted multiple warnings about the impact on food production. Iran toll Iran announced on Thursday alternative routes near the country&#39;s Larak Island to cross the strait, citing the risk of sea mines in the waterway&#39;s main zone. The country&#39;s Revolutionary Guards (IRGC) also said ships could only use the strait in collaboration with the Iranian navy, according to intelligence firm Vanguard Tech. Recent transits have almost all used this Iranian-approved route, with some ships reportedly paying a toll, prompting criticism from US President Donald Trump and the European Union. The announcement of a ceasefire had sent oil prices plunging, but the failure of peace talks and the US announcement that it would blockade boats from entering or leaving Iranian ports from 1400 GMT Monday has seen them once again rise above $100. Dozens of vessels targeted No new attacks on ships have been reported since the ceasefire started. The IRGC claimed three attacks on ships between Saturday and Tuesday, and one has been confirmed by the International Maritime Organization (IMO). Some 29 commercial ships, including 13 tankers, have been attacked or have reported incidents in the region since March 1, according to the IMO, the UK Maritime Trade Operations Centre and Vanguard Tech.

An aerial view of the Persian Gulf and the Gulf of Oman, collected on 16 October 2019. (NASA)

Middle East

The crucial waterway normally handles about a fifth of global crude oil and liquefied natural gas (LNG) but has been heavily disrupted since the US and Israeli strikes on Iran on February 28 sparked the Middle East Ear.

Facts about Strait of Hormuz as US vows blockade

ISLAMABAD: European Commission President Ursula von der Leyen on Monday thanked Pakistan for playing an &quot;important role&quot; in facilitating direct talks between the United States and Iran. Speaking after a European Commission college meeting on the <a href="https://www.pakistantv.com/article/oil-surges-stocks-fall-as-trump-says-to-blockade-strait-of-hormuz" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">economic fallout</a> of the conflict, von der Leyen offered a public acknowledgment of Islamabad&#39;s diplomatic contribution. &quot;Allow me to say a word of gratitude to Pakistan for the important role they have played to get to this point,&quot; she said. The remarks came as von der Leyen outlined the severe financial cost of the <a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-45" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Middle East War</a> for the European Union: 22 billion euros ($25.76 billion) in additional fossil fuel import costs in just 44 days. She called for urgent structural reforms to reduce European dependence on Gulf energy. &quot;We also know that negotiations have been stalled now, and we have to see how things go on,&quot;&nbsp;von der Leyen said. The Islamabad Talks The <a href="https://www.pakistantv.com/article/pakistan-briefs-allies-on-islamabad-talks-urges-ceasefire-adherence" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Islamabad Talks</a> were 21-hour discussions between the United States and Iran that ended inconclusively on April 12, marking the two countries&#39; first direct, high-level meeting since 1979. Pakistan&#39;s role as host drew broad international acclaim. US Vice President Vance said Pakistan had done an &quot;amazing job&quot; bridging the gap and facilitating the historic session. Both delegations met with Prime Minister Shehbaz Sharif and the Chief of Defense Forces, Field Marshal Asim Munir, during the summit. The United Nations expressed &quot;sincere appreciation&quot; for Pakistan&#39;s role in managing the ceasefire and facilitating what it called the &quot;Islamabad Process.&quot;&nbsp; China hailed the talks as a &quot;window of opportunity&quot; for regional stability.&nbsp; British High Commissioner Jane Marriott credited Pakistan&#39;s &quot;quiet, effective&quot; role in securing the initial ceasefire, while Australian envoy Timothy Kane cited Islamabad&#39;s &quot;tireless efforts&quot; to bring both sides to the table. The European Union &quot;saluted&quot; Pakistan&#39;s leadership in creating a neutral ground for dialogue, and the chancellors of Germany, Italy, and Austria each called Prime Minister Shehbaz Sharif directly to offer congratulations.&nbsp; <a href="https://www.pakistantv.com/article/japanese-pm-appreciates-pakistans-role-in-usiran-ceasefire-talks" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Japanese Prime Minister Sanae Takaichi</a>&nbsp;held a telephonic meeting with Sharif to express Tokyo&#39;s gratitude for Pakistan&#39;s peace-making efforts. UK Foreign Secretary Yvette Cooper appreciated Pakistan&rsquo;s constructive role in promoting peace and stability in the region during a telephone call with Foreign Minister Ishaq Dar. A fragile two-week ceasefire remains in place but is set to expire around April 22. The United States has already announced contingency plans for a naval blockade of Iranian ports should the ceasefire collapse.

College meeting by European Commission President Ursula von der Leyen on the impact of the situation in the Middle East on the European Union on April 13, 2026. (European Commission)

European Commission President Ursula von der Leyen praised Pakistan for facilitating talks between the United States and Iran, marking their first direct, high-level engagement since 1979

EC president thanks Pakistan for facilitating US-Iran talks

ISTANBUL: Turkish Foreign Minister Hakan Fidan said on Monday that Israel &quot;cannot live without an enemy&quot; and its government was now trying to portray Turkey as one.&nbsp;Tensions between Turkey and Israel have steadily escalated since the Gaza war erupted following Hamas&#39;s October 7, 2023, cross‑border attack in Israel.&nbsp;The dispute entered a new phase over the weekend after Turkish President Recep Tayyip Erdogan warned US counterpart Donald Trump of &quot;possible provocations and sabotage&quot; that could jeopardize an initial ceasefire arrangement in the US-Israeli war on Iran.&nbsp;Israeli Prime Minister Benjamin Netanyahu vowed on Saturday that Israel would continue to confront Tehran and its regional allies.&nbsp;&quot;After Iran, Israel cannot live without an enemy,&quot; Fidan said in a televised interview with the state‑run Anadolu news agency.&nbsp;&quot;We see that not only Netanyahu&#39;s administration but also some figures in the opposition -- though not all -- are seeking to declare Turkey the new enemy,&quot; he said.&nbsp;&quot;This is a new development in Israel... turning into a state strategy,&quot; he added.&nbsp;Turkey and Israel have frequently been at loggerheads in the past, including over the Israeli military operation in Gaza and over the future of Syria.&nbsp;A 2010 raid by Israeli forces against a flotilla of civilian ships trying to break Israel&#39;s navy blockade of Gaza caused lasting bitterness between the two regional powers.&nbsp;That raid against the flotilla, which was co-organized by a Turkish rights group, resulted in the death of nine Turkish activists and a US activist.

Turkish Foreign Minister Hakan Fidan says Israel is portraying Turkiye as a new enemy amid rising tensions since the October 7 attacks, with disputes worsening over Gaza, Iran, and regional conflicts.

Ankara says Israel seeks to declare Turkiye 'new enemy'

ISLAMABAD: Iran and Saudi Arabia&#39;s foreign ministers spoke by phone Monday, a day after a 21-hour round of direct Iran-US negotiations in Islamabad, Pakistan. According to Iranian state media, IRNA, Iranian Foreign Minister Abbas Araghchi and Saudi counterpart Prince Faisal bin Farhan discussed the latest regional developments. They also discussed the status of the talks between Tehran and Washington, which Pakistan hosted and mediated. Senior delegations from both Iran and the United States took part in Islamabad over the weekend. Pakistan said it would continue its mediation efforts. Monday&#39;s call was the second between the two foreign ministers since the onset of hostilities involving the United States, Israel, and Iran. Saudi state news agency SPA confirmed the conversation, saying the two sides reviewed developments following the conclusion of the Islamabad Talks.

Iran and Saudi foreign ministers discussed Iran-US talks held in Islamabad, Pakistan, and Pakistan mediation efforts, in their second contact since the start of the war, on Monday, April 13, 2026. (International Crisis Group)

The two leaders discussed direct Iran-US talks held in Islamabad, in their second contact since the start of the Middle East War.

Saudi, Iran FMs discuss developments post Islamabad Talks

PARIS: France and Britain will co-host a summit this week to discuss a &quot;coordinated, independent, multinational plan&quot; to safeguard shipping in the Strait of Hormuz, UK Prime Minister&nbsp;<a href="https://www.pakistantv.com/article/not-our-war-uk-pm-says-will-not-be-drawn-into-mideast-conflict" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Keir Starmer</a>&nbsp;said Monday. Britain had convened &quot;more than 40 nations who share our aim to restore freedom of navigation&quot; and the summit will discuss ways to protect shipping &quot;when the <a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-45" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">conflict ends,</a>&quot; Starmer said. Britain and France will work on a &quot;peaceful multinational mission&quot; that would be &quot;separate from the warring parties,&quot; French President Emmanuel Macron said earlier Monday. US-Israeli strikes on Iran in late February sparked a region-wide war and brought traffic through the Strait of Hormuz to a near standstill, blocking a key route for global oil and gas shipments. Iran and the United States last week agreed to a two-week cessation of hostilities, including meeting directly for <a href="https://www.pakistantv.com/article/pakistan-briefs-allies-on-islamabad-talks-urges-ceasefire-adherence" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">talks in Pakistan</a> on the weekend. On Sunday, US President Donald Trump ordered his navy to carry out a blockade of the Strait of Hormuz starting Monday. Trump also said, on his Truth Social platform, that &quot;Other Countries will be involved with this Blockade&quot; but did not specify which ones. The UK-French initiative, which Macron and Starmer announced on X, appeared to be separate from Trump&#39;s announced blockade. On April 2, a UK-led diplomatic meeting of some 40 countries demanded &quot;the immediate and unconditional reopening&quot; of the vital shipping route. Macron said the conference would involve &quot;countries prepared to contribute alongside us to a peaceful multinational mission aimed at restoring freedom of navigation in the strait&quot;. &quot;This strictly defensive mission, separate from the warring parties to the conflict, is intended to be deployed as soon as circumstances permit,&quot; he said. The US military said the blockade of the Strait ordered by Trump would begin at 1400 GMT, and apply to all ships leaving or seeking to dock at Iranian ports on either side of the key waterway. Starmer said Monday that Britain will not join the naval blockade announced by Trump.

Image caption: In this satellite image provided by NASA, the Strait of Hormuz is shown between the rugged southern coast of Iran, top, and the Musandam Peninsula of Oman, center. This narrow waterway serves as the only sea passage from the Persian Gulf to

France and Britain will host a summit on securing shipping in the Strait of Hormuz. The meeting will discuss a multinational plan to protect navigation amid rising regional tensions.

Pakistan, Iran relaunch land trade after months-long suspension

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