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(Bloomberg) — Pakistan will host an event in Geneva to mark the US-Iran peace deal, Prime Minister Shehbaz Sharif told parliament, crediting Army Chief Asim Munir with playing an “extraordinary role” in efforts to end a conflict that threatened to destabilize the global economy.
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“The world has reached an historic milestone as US and Iran agreed to end the war permanently, including in Lebanon,” Sharif told lawmakers in a speech on Monday in which he also thanked President Donald Trump.
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The ceremony would be held on Friday, he said.
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Sharif said he had personally witnessed Munir’s “extraordinary efforts” to secure peace, describing how the military chief worked around the clock and “never lost hope” during talks. He also praised Foreign Minister Ishaq Dar and Interior Minister Mohsin Naqvi for their engagement with Iranian leaders. Sharif asked lawmakers to welcome Iran’s ambassador, who was present in parliament during the speech.
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The remarks underscore Pakistan’s emergence as a key intermediary between Washington and Tehran as the conflict raised fears of a global economic slowdown after prices of key commodities including oil and fertilizer surged as a result of the blockade of the Strait of Hormuz.
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Earlier this year, Islamabad delivered a 15-point action plan aimed at helping bridge differences between the two sides, while Pakistan was also floated as a potential venue for talks ahead of Trump’s previous April deadline for Iran to reach an agreement or face attacks on critical infrastructure.
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Munir, widely regarded as Pakistan’s most powerful army chief in decades, has taken on an increasingly prominent diplomatic role as Islamabad sought to position itself as a conduit between the US and Iran.
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Pakistan also has a strong economic incentive to help resolve the crisis. The country faces the risk of acute energy shortages as Iran has restricted much of the shipping traffic through the Strait of Hormuz, a vital artery for global oil and gas supplies.
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—With assistance from Bilal Hussain.
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