India's Foreign Secretary Vikram Misri on Saturday evening did a short press briefing in which he officially announced ceasefire between India and Pakistan. Misri in his official statement clearly said that Pakistan's DGMO approached his Indian Counterpart today afternoon during which both the sides agreed for ceasefire.
Foreign Secretary Vikram Misri said, "Pakistan's Directors General of Military Operations (DGMO) called Indian DGMO at 15:35 hours earlier this afternoon. It was agreed between them that both sides would stop all firing and military action on land and in the air and sea with effect from 1700 hours Indian Standard Time. Today, instructions have been given on both sides to give effect to this understanding. The Directors General of Military Operations will talk again on the 12th of May at 1200 hours."
Interestingly, US President Donald Trump stated that America mediated between both the countries overnight. Trump fired a tweet that reads, "After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE. Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!"