Karachi: Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and Chairman of the National Business Group Pakistan, stated today that the recent face-to-face negotiations between the United States and Iran in Islamabad underscore Pakistan's emerging role as a key mediator in global geopolitics. The talks, led by US Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf, did not result in a final agreement. However, Hussain emphasized that hosting the highest-level direct engagement between these nations since 1979 highlights Pakistan's successful diplomatic efforts.
According to Pakistan Businessmen and Intellectuals Forum, global leaders, including US President Donald Trump, Vice President JD Vance, and Iranian Speaker Mohammad Bagher Qalibaf, have acknowledged the critical role played by Prime Minister Mian Shehbaz Sharif and Field Marshal Asim Munir. Their leadership provided an essential peace platform, facilitating direct dialogue between the two nations amid a crisis that began on February 28, significantly affecting the global economy.
The breakdown of the talks without a definitive deal has already impacted international markets, with oil prices projected to rise toward $105 per barrel. Hussain expressed concern over the fragile nature of the current two-week ceasefire, set to expire on April 22. He warned that unresolved issues regarding nuclear ambitions and control over the Strait of Hormuz pose a severe threat to global trade. The Strait is crucial for one-fifth of the world's oil supply, and further escalation could cause an unprecedented energy shock, potentially forcing central banks to raise interest rates and stifling the post-war economic recovery.
Regarding President Donald Trump's response, Hussain noted that the US President's "victory-first" stance and instructions to the US Navy to blockade the Strait of Hormuz have heightened global tensions. Trump's assertion that the US has already won the conflict, coupled with his refusal to compromise on Iran's nuclear program, reflects a hardening of Washington's position. Hussain warned that such a blockade could halt shipping through international waterways, affecting not just regional players but the entire global supply chain, including major economies like China dependent on these routes for energy security.
Hussain emphasized the indispensable role of Pakistan in averting a full-scale global catastrophe. He called on the international community to support Pakistan's mediation efforts to ensure that dialogue continues beyond the Islamabad summit. He pointed out that the movement of three supertankers through the Strait during the ceasefire demonstrated the stability that diplomacy can achieve. Hussain concluded by stating that transitioning from military confrontation to meaningful diplomatic engagement is the only viable path forward for global peace and the survival of vulnerable economies, with Pakistan continuing to act as a bridge for future negotiations.