India and Pakistan have agreed to strictly observe all agreements on ceasefire along the Line of Control (LoC) and other sectors, according to a joint statement on Thursday.

The decision on ceasefire, effective since Wednesday midnight, was taken at a meeting between the Director Generals of Military Operations (DGMOs) of India and Pakistan.

The DGMOs held discussions over the established mechanism of hotline contact and reviewed the situation along the Line of Control and all other sectors in a "free, frank and cordial atmosphere".

"In the interest of achieving mutually beneficial and sustainable peace along the borders, the two DGMOs agreed to address each other's core issues and concerns which have the propensity to disturb peace and lead to violence.

"Both sides agreed for strict observance of all agreements, understandings and cease firing along the Line of Control and all other sectors with effect from midnight of February 24/25," the joint statement said.

Both sides reiterated that existing mechanisms of hotline contact and border flag meetings will be utilised to resolve any unforeseen situation or misunderstanding, it added.

The Jammu and Kashmir National Conference (JKNC) and the PDP welcomed the move.

"We welcome it and hope that the statement will be followed in letter & spirit. JKNC has always been a strong supporter of the ceasefire along the LoC," the party said in a statement.

"This will allow people living along the LoC & IB (International Border) to go about their normal lives with minimal disruption & risk," the party said.

Peoples Democratic Party (PDP) president Mehbooba Mufti in a tweet welcomed the ceasefire announcement and said dialogue was the only way forward.

"A big & welcome development that India & Pakistan have agreed to a ceasefire along the LoC. Dialogue is the only way forward if both countries want to stop the unending cycle of violence & bloodshed across the borders and J&K," Mehbooba said.

In a written response to a question in Lok Sabha earlier this month, Union Minister of State for Home G Kishan Reddy said a total of 10,752 cases of ceasefire violations have taken place along India's border with Pakistan in the last three years, in which 72 security personnel and 70 civilians were killed.

He said 364 security personnel and 341 civilians were injured in cross-border firings along the International Border and the Line of Control in Jammu and Kashmir in 2018, 2019 and 2020.