ISLAMABAD/NEW DELHI -- Pakistan and India announced on Saturday that they agreed on a ceasefire.

The announcement came following four days of military strikes on each other.

Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar said on Saturday that Pakistan and India have agreed on a ceasefire with immediate effect.

"Pakistan has always strived for peace and security in the region, without compromising on its sovereignty and territorial integrity," Dar said.

He said that after the recent escalation and military activities on both sides, several countries, including the US, Turkey, and Saudi Arabia, were in contact with Pakistan.

Diplomatic efforts were underway throughout the day, following which a ceasefire agreement was reached, he added.

Meanwhile, Indian Foreign Secretary Vikram Misri said on Saturday that the two countries agreed to observe a ceasefire and end military actions on their borders and Line of Control (LoC).

"Pakistan (Director General of Military Operations, or DGMO) called the DGMO of India at 15:35 local time earlier this afternoon. It was agreed between them that both sides would stop all firing and military action on land, in the air and sea with effect from 17:00 local time today. Instructions have been given on both sides to give effect to this understanding," Misri said at a press briefing in New Delhi.

According to Misri, the DGMOs will talk again on May 12 at 12:00 local time.

On Wednesday, India launched airstrikes on Pakistani targets to avenge last month's killing of 26 people by gunmen in Pahalgam town, about 89 km east of Srinagar, the summer capital of the Indian-controlled Kashmir.

The situation along the LoC dividing Kashmir had been tense as troops of India and Pakistan deployed on both sides of the ceasefire line were engaged in an exchange of fire and artillery.