Iran-US peace deal key to avoiding tougher times for Pakistan and global economy: Fereeha Idrees
Speaking to CNBC-TV18, Idrees warned that the fallout from the ongoing tensions is already being felt on the ground, particularly through rising energy costs and power shortages. “If this peace deal does not go through, then we will have to brace ourselves for even more difficult times,” she said, highlighting the economic urgency tied to the negotiations.
Her comments come at a time when uncertainty persists around the next round of talks, even as Donald Trump has maintained a firm stance on the US blockade of the Strait of Hormuz, a key sticking point for Tehran. With just a day left before the current ceasefire expires, Trump has indicated that an extension is “unlikely”, while expressing hope for a deal.
On the ground in Pakistan, Idrees said preparations for hosting the talks are in full swing, despite mixed signals from the participating sides. “There is not even an ounce of doubt among the authorities that these talks are going ahead,” she noted, pointing to heightened security and logistical arrangements in Islamabad.
She emphasised that Pakistan’s role as a mediator is rooted in its unique diplomatic positioning. “We are one of the few countries in the world that both sides trust,” she said, adding that Islamabad’s ties across the United States, Iran and key Gulf nations give it a credible platform to facilitate dialogue. Pakistan has also maintained close coordination with Xi Jinping during the process, underlining its broader geopolitical balancing.
The economic stakes, however, remain significant. The ongoing blockade in the Strait of Hormuz has disrupted energy flows, pushing crude prices above $90 per barrel and intensifying inflationary pressures globally. Idrees pointed out that Pakistan, already grappling with an energy crisis, is facing prolonged power outages. “We are facing about 10 to 12 hours of load shedding at the moment,” she said, adding that rising oil prices are feeding directly into higher inflation.
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Globally, concerns over energy security are mounting. International agencies have warned of one of the worst energy crises in recent years, while European officials have cautioned that the summer months could prove particularly challenging if the conflict escalates further.
Despite these pressures, Idrees said public sentiment in Pakistan remains largely supportive of the country’s mediation efforts. Long queues and strict security measures have become routine in parts of Islamabad, but she noted that people view the inconvenience as a necessary trade-off. “They are happy that Pakistan is finding its place on the global stage, and that this is a small price to pay for world peace,” she said.