Islamabad, June 18, 2026: President of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, has welcomed the signing of the historic Islamabad Memorandum of Understanding (MoU) between the United States and Iran, facilitated by Pakistan, describing it as a major diplomatic breakthrough with significant implications for regional peace and global economic stability.
In a statement issued on Thursday, the ICCI president said the successful conclusion of the agreement reflected Pakistan’s growing stature as a responsible, credible and influential advocate of peace, dialogue and stability in regional and international affairs.
He noted that Pakistan’s role in facilitating engagement between Washington and Tehran demonstrated the confidence placed by the international community in the country’s diplomatic capabilities and leadership.
Sardar Tahir Mehmood paid tribute to Prime Minister Muhammad Shehbaz Sharif, Chief of Defence Forces Field Marshal Syed Asim Munir, Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, and Interior Minister Senator Mohsin Naqvi for their leadership and coordinated efforts in positioning Pakistan at the forefront of international peacebuilding and constructive diplomacy.
Highlighting the economic significance of the development, he said the easing of regional tensions and the uninterrupted flow of trade through the Strait of Hormuz were highly encouraging for global commerce, energy security and economic stability. He observed that reduced geopolitical risks were likely to ease pressure on international oil markets and strengthen investor and business confidence worldwide.
The ICCI president urged the government to pass on the benefits of lower international oil prices to the public by reducing domestic petroleum prices to levels that existed before the US-Iran conflict.
He said lower fuel prices would provide much-needed relief to consumers, reduce transportation and production costs, help contain inflation and support economic growth by improving the competitiveness of businesses and industries.
Sardar Tahir Mehmood stressed that peace and stability remain essential prerequisites for sustainable economic development. He expressed confidence that the Islamabad MoU would usher in a new era of regional cooperation, strengthen trade and economic relations, encourage investment flows and create fresh opportunities for prosperity across the region.
He concluded by stating that Pakistan’s successful diplomatic initiative had enhanced the country’s international standing and reinforced its image as a sincere advocate of peace, dialogue and mutual understanding.
“The Islamabad MoU can serve as a foundation for lasting regional stability, greater trust among nations and a more prosperous future for the people of the region,” he said.
