ISLAMABAD center stage
What a big win for Pakistan
I mean, what a huge win for Pakistan on this Thursday (June 18). The Memorandum of Understanding has been signed by President Trump and Iranian President Masoud Pezeshkian (watch the signing here) and the MoU is called the Islamabad MoU, highlighting Pakistan’s incredible role in mediating and facilitating the peace deal.
I’ve listed out the MoU points below as well as further details. Historic week for Pakistan and such a relief that this war is behind us. Looking forward to reduced petrol prices!
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The government plans to bring up to 2 million retailers into the tax net under a new registration scheme aimed at raising an extra Rs50 billion. Finance Minister Bilal Azhar Kayani says over 3.5 million shopkeepers are still operating outside the formal tax system. Small traders will be exempt from digital invoicing, but those who fail to pay taxes could face fines starting at Rs10,000, rising to Rs50,000, and even business closure. The government also plans to introduce a faceless audit system to reduce corruption and direct contact with tax officials.
Pakistan’s Federal Shariat Court has ruled that women cannot be denied their inheritance under any family custom, tribal tradition or social pressure, calling it both illegal and against Islamic teachings. The ruling came in the case of Bibi Amna in Balochistan, whose brothers withheld her share of family property. The court overturned an earlier decision, and ordered that the civil court must now determine and allocate her shares and other legal heirs in all of her parents’ properties.
Punjab plans to launch a new FBR-style unified revenue authority, bringing all provincial taxes under one system to improve efficiency and reduce corruption. The government says it hit 99% of its tax target this year and has now raised next year’s goal by 46%. Finance Minister Mian Mujtaba Shujaur Rehman says some old taxes, including agricultural tax on land over 12.5 acres, will be revised, while more systems like property tax and land revenue go digital.
PM Shehbaz announced that the Islamabad Memorandum of Understanding between the US and Iran has been signed electronically and is now in force, calling it a major diplomatic breakthrough. He said the agreement reflects both countries’ commitment to peace and prevented “devastating consequences” for the region and beyond.
Shehbaz said the first steps would be immediate: Iran reopening the Strait of Hormuz and the US lifting its naval blockade. He praised Donald Trump for pushing diplomacy, thanked Iran’s leadership for choosing peace, and credited Pakistan’s mediation role, especially highlighting Field Marshal Asim Munir for what he said was a critical role in securing the breakthrough.
He also acknowledged support from regional partners including Qatar, Saudi Arabia, Türkiye and Egypt, saying he hopes the agreement becomes a lasting foundation for peace, mutual respect and regional stability.
The 14 point MoU’s text was released to the media and here it is in full text. I have summarised what each point means so it’s an easier read:
What the 14 point US–Iran MoU basically says:
Immediate ceasefire:
The US and Iran (and their allies) agree to stop all fighting right away, including in Lebanon, and promise not to attack each other again.Respect each other’s borders:
Both countries agree to respect each other’s sovereignty and stay out of each other’s internal affairs.Final peace deal in 60 days:
They aim to negotiate a full, permanent agreement within 60 days (can be extended if both agree).US to lift naval blockade:
The US will start removing its naval blockade on Iran immediately and fully end it within 30 days.Iran to reopen shipping routes:
Iran will allow commercial ships to pass safely through the Strait of Hormuz for 60 days and clear mines/obstacles (after which they will impose a fee for usage).$300 billion reconstruction plan:
The US and regional partners will work on a $300 billion economic recovery plan for Iran (Trump made it clear that the US was not giving a cent for this plan and only regional partners were involved).Sanctions will be removed:
The US agrees to work toward ending sanctions on Iran, including UN and US sanctions, as part of the final deal.Iran gives nuclear assurance:
Iran repeats that it will not build nuclear weapons (but interestingly, Trump said they had a right to enriched uranium for energy purposes).Nuclear material to be supervised:
Iran’s enriched nuclear stockpile will be handled under supervision of the International Atomic Energy Agency.No new escalation during talks:
Until the final deal:Iran keeps its nuclear program at current levels
US won’t add new sanctions
US won’t send more troops to the region
Iran can start selling oil again:
The US Treasury will allow Iranian oil exports and related banking/shipping.Frozen Iranian money released:
Iran will get access to its frozen overseas funds again (big win).A monitoring system will be created:
Both sides will create a mechanism to make sure everyone follows the agreement.Some parts must start first before wider talks:
Ceasefire, shipping access, oil exports, and funds release must begin before final negotiations continue.Final deal gets UN backing:
The final agreement will be made legally binding through the United Nations Security Council.
Next steps include a formal signing tomorrow in Geneva for which PM Shehbaz and Field Marshal Asim Munir will leave today. US Vice President JD Vance is expected to attend the signing and Foreign Minister Abbas Araghchi from the Iranian side.
The lowest point is usually the hardest but most important for you to realise how much you actually have to live for.
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