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ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Thursday said Israel and Hamas’ agreement on the first phase of US President Donald Trump’s truce plan is a “historic opportunity” to secure lasting peace in the Middle East, praising the leaders of the US and other regional states for their role in the agreement.

Indirect talks in Egypt yielded an agreement on the initial stage of Trump’s 20-point framework to bring peace to the Palestinian enclave, just a day after the second anniversary of Israel’s war on Gaza that has killed more than 67,000 Palestinians.

The accord, if fully implemented, would bring the two sides closer than any previous effort to halt a war that had evolved into a regional conflict, drawing in countries such as Iran, Yemen and Lebanon, deepened Israel’s international isolation and reshaped the Middle East.

Trump announced the initial phase, which includes a ceasefire and hostage deal, thought it was short on detail and left many unresolved questions that could still lead to the collapse of the agreement, as has happened with previous peace efforts.

“President Trump’s leadership throughout the process of dialogue and negotiations reflects his unwavering commitment to world peace,” Sharif said in a post on X.

“The resolute and wise leaders of Qatar, Egypt and Turkiye are also to be applauded for their untiring efforts to negotiate a deal. Most of all, we must all pay tribute to the Palestinian people who have suffered in an unprecedented manner, one that should never, ever be repeated.”

Trump announced the deal on Truth Social, saying it meant the release of all hostages and Israel’s withdrawal of troops to an “agreed upon line.” The agreement could pave the way for desperately needed humanitarian aid to be immediately sent to Gaza Strip, where a global hunger monitor said in August over half a million people were experiencing famine.

Gaza authorities say more than 67,000 people have been killed and much of the enclave has been flattened since Israel began its military response to the Hamas cross-border attack on Oct. 7, 2023. Around 1,200 people were killed and 251 were taken hostage back to Gaza, according to Israeli officials, with 20 of the 48 hostages still held believed to be alive.

Pakistan, which does not recognize Israel, has consistently called for a ceasefire and uninterrupted delivery of humanitarian aid to Gaza. Islamabad backs an independent, sovereign and contiguous Palestinian state, based on pre-1967 borders.

“The world must hold the occupiers and illegal settlers to account and prevent any further actions that undermine the enormous efforts made by President Trump to reduce tensions and pave the way for lasting peace,” Sharif said.

“We will continue to work with partners, friends and the leaders of brotherly nations to ensure that peace, security and dignity for the Palestinian people are established in accordance with their wishes and UN resolutions.”

Hamas confirmed it had reached an agreement to end the war, saying the deal includes an Israeli withdrawal from the enclave and a hostage-prisoner exchange. But the group called on Trump and guarantor states to ensure Israel fully implements the ceasefire, it added in a statement.

Israeli Prime Minister Benjamin Netanyahu said he would convene his government on Thursday to approve the agreement.

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have made “significant progress” toward a staff-level agreement on reviews of the South Asian country’s $8.4 loans, the lender said late Wednesday.

The statement came at the end of a two-week visit by an IMF mission, led by Iva Petrova, to Karachi and Islamabad to review a $7 billion, 37-month Extended Fund Facility Islamabad secured last year, and a $1.4 billion, 28-month Resilience and Sustainability Facility secured in May.

Pakistan’s program implementation remained strong and broadly aligned with the authorities’ commitments, while progress was made in discussions on fiscal consolidation to strengthen public finances while providing needed flood recovery support, according to the lender.

“Significant progress was made in the discussions in several areas, including sustaining fiscal consolidation to strengthen the public finances while providing needed flood recovery support,” the IMF said in a statement.

“Productive discussions were also held on the authorities’ reform agenda to strengthen climate resilience, including the completion of reform measures under the RSF.”

The development comes weeks after Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva in New York and urged the global lender to take into account the recent flood damages in its upcoming review for the South Asian nation.

The floods, triggered by heavy monsoon rains and India’s release of excess water, have killed more than 1,037 people and affected another over 4 million, besides damaging standing crops, homes and road network. The government has initially estimated the losses at Rs370 billion ($1.31 billion), though a detailed assessment has yet to be made.

This week, the World Bank projected Pakistan’s economy to grow by 2.6 percent in the ongoing fiscal year that began in July, lowering its earlier estimate due to the recent monsoon floods.

The IMF said its officials will continue policy discussions with Pakistani authorities with a view to settling any outstanding issues.

“The IMF team wants to express its sympathy to those affected by the recent floods, and is grateful to the Pakistani authorities, private sector, and development partners for many fruitful discussions,” it added.