"We are hopeful," said Pakistan’s Foreign Ministry spokesperson, Tahir Andrabi, at a briefing in Islamabad on Thursday in response to when he expected an agreement to be reached.

Fuel price shocks have been softened by governments through subsidies or reduced fuel taxes, according to S&P Global analyst Hanna Luchnikava-Schorsch.

This marks the second time this month that the US president has publicly praised PM Shehbaz and Field Marshal Munir for their engagement in efforts to facilitate talks with Iran aimed at ending the conflict.

According to the news agency, the U.S. president informed the station about the cancellation of the visit.

Pakistan has recently positioned itself as a facilitator amid heightened tensions involving the US, Iran, and Israel. Officials in Islamabad have emphasized the country’s willingness to act as an “honest broker” to reduce escalation and promote diplomatic solutions.