Chief Executie Officer and Founder of Universal Gas Development Company (UGDC), Ghiyas Abdullah Paracha has congratulated Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar for what he described as a “monumental achievement” in facilitating the ceasefire between the United States and Iran.
CEO Ghiyas Paracha said the development has already delivered tangible economic relief, highlighting an immediate drop of around $22 in global oil prices, which he noted has translated into billions of dollars in relief for the global energy economy.
He praised the leadership’s “visionary diplomacy and tireless efforts” in bridging gaps between nations, adding that Pakistan has emerged as a key player in promoting global peace and stability.
“This brings a much-needed reprieve to a global economy strained by surging oil prices and inflationary pressures,” he said, adding that the ceasefire is not merely a pause in tensions but a gateway to meaningful progress in global oil and gas trade.
Paracha emphasized that the de-escalation is expected to help normalize international trade routes, reduce inflationary pressures worldwide, and ease fiscal stress on economies, including Pakistan.
He further noted that under the prime minister’s leadership, Pakistan successfully averted potential energy shortages, ensuring stability in the domestic market during a period of global uncertainty.
Looking ahead, Paracha expressed optimism that the government would now shift focus toward energy self-sufficiency by enhancing domestic oil and gas production, reducing system losses, and pursuing new strategic agreements and supply arrangements.
He termed the ceasefire a “moment of pride” for Pakistan, underscoring its role as a facilitator of peace at a time when global economies were facing severe risks due to escalating geopolitical tensions.
