Commerce Desk
Lahore, June 15, 2026: Pak International Business Forum (PIBF) has warmly welcomed the emerging peace agreement between Iran and the United States and praised the constructive role played by Pakistan and other facilitators in bringing the two sides to the negotiating table. The agreement is expected to reduce regional tensions, reopen vital trade routes, and pave the way for the gradual easing of sanctions on Iran, creating significant economic opportunities for neighboring countries, including Pakistan.
In a joint statement, PIBF President Dr. Mushtaq Mangat and Secretary General Ejaz Tanveer said that the diplomatic breakthrough demonstrates the importance of dialogue in resolving international disputes and reflects positively on Pakistan’s growing role as a responsible stakeholder in regional peace and stability. Pakistan has been widely acknowledged as one of the key facilitators of the negotiations that culminated in the ceasefire and peace framework announced over the weekend.
Dr. Mushtaq Mangat stated that the restoration of peace in the region and the expected easing of restrictions on Iranian oil exports could contribute to greater stability in global energy markets and provide Pakistan with an opportunity to secure affordable energy supplies. He urged the Government of Pakistan to immediately engage with Iranian authorities to explore long-term arrangements for the import of crude oil, petroleum products, and natural gas at competitive rates, enabling the benefits to be passed on to consumers and, most importantly, to Pakistan’s industrial sector.
“High energy costs remain one of the biggest challenges facing Pakistani industry. If sanctions-related barriers are reduced and bilateral energy cooperation becomes feasible, Pakistan must move swiftly to negotiate favorable terms for importing Iranian oil and gas. Affordable energy can significantly improve industrial competitiveness, increase exports, and support economic growth,” he said.
Secretary General Ejaz Tanveer emphasized that the changing geopolitical environment provides a timely opportunity to revive the long-delayed Iran–Pakistan Gas Pipeline project, which has remained stalled largely due to international sanctions and related uncertainties. He noted that the project could play a critical role in addressing Pakistan’s long-term energy security requirements and reducing dependence on expensive imported fuels.
“The Government should actively pursue diplomatic and commercial efforts to revive the Iran–Pakistan Gas Pipeline and transform it into a symbol of regional economic cooperation. Reliable and affordable gas supplies are essential for sustaining industrial production and supporting future economic expansion,” he said.
The PIBF leadership also called for renewed efforts to operationalize and expand regional connectivity initiatives, particularly the Islamabad–Tehran–Istanbul (ITI) Cargo Train, which can serve as an important trade corridor linking Pakistan with Iran, Türkiye, Central Asia, and Europe. They noted that enhanced rail connectivity would reduce transportation costs, shorten delivery times, and open new export markets for Pakistani products.
Dr. Mushtaq Mangat and Ejaz Tanveer further urged the Government of Pakistan to formulate a comprehensive economic engagement strategy with Iran covering energy cooperation, bilateral trade, banking channels, logistics, transportation, tourism, and industrial collaboration. They stressed that the private sector should be actively involved in shaping this strategy to ensure that emerging opportunities translate into tangible economic benefits.
The PIBF leadership expressed hope that the peace process would continue to advance and contribute to lasting stability across the region. They reiterated that sustainable peace and economic cooperation are mutually reinforcing and can create prosperity for all countries involved.
