Commerce Desk
Karachi 13 April 2026: Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, stated today that the face-to-face negotiations between the United States and Iran held in Islamabad signify Pakistan’s growing stature as a key mediator in global geopolitics. Commenting on the 21-hour marathon session led by US Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf, he noted that while a final agreement remained elusive, the fact that Islamabad hosted the highest-level direct engagement between the two nations since 1979 is a testament to the country’s successful diplomatic efforts.
According to Mian Zahid Hussain, global leaders including US President Donald Trump, Vice President JD Vance, and Iranian Speaker Mohammad Bagher Qalibaf have recognized the essential role played by Prime Minister Mian Shehbaz Sharif and Field Marshal Asim Munir. He noted that their leadership provided a vital peace platform, successfully facilitating direct dialogue between the two conflicting nations following a crisis that began on February 28 and has since significantly impacted the global economy.
The collapse of the talks without a definitive deal has already sent ripples through international markets, with Mian Zahid Hussain pointing out that oil prices are projected to surge toward $105 per barrel. He expressed concern over the fragile nature of the current two-week ceasefire, which is set to expire on April 22, warning that the failure to bridge the gap on nuclear ambitions and control over the Strait of Hormuz poses a severe threat to global trade. He highlighted that the Strait is a lifeline for one-fifth of the world’s oil supply, and any further escalation could lead to an unprecedented energy shock, potentially forcing central banks to raise interest rates and stifling the post-war economic recovery.
About the reaction of President Donald Trump, Mian Zahid Hussain observed that the US President’s “victory-first” stance and the subsequent instruction to the US Navy to blockade the Strait of Hormuz have intensified global anxiety. He noted that the President’s insistence that the US has already won the conflict, coupled with a refusal to compromise on Iran’s nuclear program, reflects a hardening of Washington’s position. He warned that such a blockade could lead to a total halt in shipping through international waterways, impacting not just regional players but the entire global supply chain, including major economies like China that rely on these routes for energy security.
Mian Zahid Hussain stressed that the role of Pakistan remains indispensable in preventing a full-scale global catastrophe. He urged the international community to support Pakistan’s mediation efforts to ensure that the dialogue does not end with the Islamabad summit. He noted that the movement of three supertankers through the Strait during the ceasefire was a glimpse of the stability that diplomacy can achieve. He concluded by stating that for the sake of global peace and the survival of vulnerable economies, the transition from military confrontation to meaningful diplomatic engagement is the only viable path forward, with Pakistan continuing to act as the bridge for future negotiations.
