Business Recorder
ISLAMABAD: Domestic oil and gas firms have commended the present government’s diplomatic initiatives, which have helped lower oil prices by approximately USD 22 per barrel in the international market. This shift has provided the global energy economy with billions of dollars in essential relief. Senior leader of the oil and gas industry and Founder & CEO of Universal Gas Distribution Company Pvt Ltd, Ghiyas Abdullah Paracha, congratulated Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar on the achievement of a US-Iran ceasefire. Paracha said that the US-Iran ceasefire could serve as a gateway to substantive future progress in the global oil and gas trade, helping to lower global inflation and fiscal pressures by normalizing international trade routes. He added that it could also contribute to significant progress in the oil and gas sector as well as Pakistan’s economy. Under the Prime Minister’s effective management, Pakistan successfully averted energy shortages. It is expected that in the next phase, the government will prioritize energy self-sufficiency by ramping up domestic oil and gas production, curbing losses, and formalizing new strategic agreements and supply deals, he added. “We salute the visionary leadership and tireless diplomacy of our leaders; their pivotal roles in bridging the gap between nations have globally positioned Pakistan as a true foundation of global peace and stability,” he maintained. Copyright Business Recorder, 2026
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