Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 

Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 
A stockbroker speaks on a phone while monitoring the share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on June 24, 2022. (AFP/File)
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Updated 20 March 2025
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Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 

Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 
  • Benchmark KSE-100 index climbed 1,215.46 points, or 1.03 percent, to reach 119,189.48 
  • Index eventually settled at 118,769.77, up by 795.75 or 0.67 percent, from the previous close 

ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed the 119,000-point threshold in intraday trading for the first time, largely driven by aggressive buying from local mutual funds and confidence over a positive review of an International Monetary Fund bailout program, a top brokerage house said.

The benchmark KSE-100 index climbed 1,215.46 points, or 1.03 percent, to reach 119,189.48 from the last close of 117,974.02 at 9:43am. The index settled at 118,769.77, up by 795.75 or 0.67 percent, from the previous close. 

“This strong upward movement was largely driven by aggressive buying from local mutual funds, as investor confidence remained high on expectations of an imminent IMF review, which might be completed earlier than expected,” Topline Securities said in its daily market review.

Market activity remained robust, with 666 million shares traded, amounting to a turnover of Rs38.5 billion. Cnergyico Pk Ltd. oil refining company led the volume charts, with 163.9 million shares changing hands.

“The positive trajectory in the Pakistan Stock Exchange signifies the increasing trust of traders and investors in the government’s economic policies,” Prime Minister Shehbaz Sharif said in statement.

“The government is providing all necessary facilities on a priority basis to ensure a conducive environment for business and investment in the country.”

Earlier this month, an International Monetary Fund (IMF) team concluded its first review of Pakistan’s economic reforms under a $7 billion loan program, describing Pakistan’s progress as “strong,” though the mission departed without finalizing a staff-level agreement.


Pakistan fires back at India over allegations of mistreatment of minorities

Pakistan fires back at India over allegations of mistreatment of minorities
Updated 1 min 19 sec ago
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Pakistan fires back at India over allegations of mistreatment of minorities

Pakistan fires back at India over allegations of mistreatment of minorities
  • Indian FM Subrahmanyam Jaishankar said there were 10 cases of “atrocities” against the Hindu community in Pakistan last month
  • Islamabad says ‘systematic promotion of hatred, discrimination, and violence against minorities’ is well-documented in India

ISLAMABAD: The Pakistani Foreign Office on Saturday rejected Indian allegations of mistreatment of minorities in Pakistan, calling New Delhi a “serial violator of those very rights.”
The statement came in response to Indian Minister of External Affairs (MEA) Subrahmanyam Jaishankar’s remarks in parliament about “crimes and atrocities against minorities” in Pakistan.
Jaishankar said they “follow very closely and track the treatment of minorities in Pakistan,” and there were 10 cases of “atrocities” against the Hindu community in Feb., English-language daily Hindustan Times reported.
In response, the Pakistani Foreign Office said New Delhi was in no position to champion minority rights as it remained a serial violator of those very rights in India.
“In Pakistan, state institutions actively work to safeguard minorities as a matter of policy,” it said. “In stark contrast, incidents targeting minorities in India frequently occur with the tacit approval — or even complicity — of elements within the ruling dispensation.”
The two countries traded barbs days after a US panel on religious freedom said the treatment of minorities in Pakistan and India was “deteriorating,” recommending sanctions be imposed on the former’s officials and government agencies and the latter’s external spy agency over its alleged involvement in plots to assassinate Sikh separatists.
The US Commission on International Religious Freedom (USCIRF), a bipartisan US government advisory body that monitors religious freedom abroad and makes policy recommendations, said this in its annual report on Wednesday.
Archrivals Pakistan and India routinely level similar accusations against each other, but both countries have often failed to safeguard minority rights and protect them against various attacks.
“Pakistan is a country where human rights abuses, the persecution of minorities, and the systematic erosion of democratic values are state policies,” Jaishankar said during the parliamentary session on Friday.
The Pakistani Foreign Office responded by saying that the “systematic promotion of hatred, discrimination, and violence against minorities in India is well-documented,” citing the Citizenship Amendment Act, 2002 Gujarat massacre, 2020 Delhi pogrom, 1992 demolition of Babri Mosque and other incidents.
“Rather than feigning concern for minorities elsewhere, the Indian government would do well to address its own failures,” it said. “It must take concrete steps to ensure the safety, protection, and well-being of minorities — including Muslims — and safeguard their places of worship, cultural heritage, and fundamental rights.”


Pakistan secures consensus at UN on funding to appoint Islamophobia envoy

Pakistan secures consensus at UN on funding to appoint Islamophobia envoy
Updated 7 min 30 sec ago
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Pakistan secures consensus at UN on funding to appoint Islamophobia envoy

Pakistan secures consensus at UN on funding to appoint Islamophobia envoy
  • The resolution on revised budget estimates for Office of the Special Envoy on Combating Islamophobia was adopted during first part of 79th UNGA session
  • The adoption marks a milestone for Islamabad’s multilateral engagement, following designation of March 15 as the International Day to Combat Islamophobia

ISLAMABAD: Pakistan has secured consensus in the Fifth Committee of the United Nations General Assembly (UNGA) on a resolution to fund the newly established Office of the Special Envoy on Combating Islamophobia, officials said on Saturday.
The Fifth Committee is one of six main committees at the UNGA, which deals with internal United Nations administrative and budgetary matters. The resolution on revised budget estimates was adopted during the closing session of the first part of the 79th UNGA.
Jibran Khan Durrani, first secretary at Pakistan’s UN mission, delivered the national statement at the session, expressing gratitude to the Organization of Islamic Cooperation (OIC), the Group of 77 (G77) and China, and other international partners for their support.
“My delegation welcomes the consensual outcome of the resolution of the revised estimates of Islamophobia, an agenda item which was very important for my delegation as well as other OIC countries,” he said.
“My delegation extends sincere gratitude to the support extended by all members of the Group of 77 and China, OIC countries, and welcomes the constructive discussion that we had with our partners during the course of negotiations, making the consensus the first among all the consensual outcomes of this session.”
The Office of the Special Envoy on Combating Islamophobia will be established effective from April 1, according to the resolution. Its mandate will include monitoring, reporting and advising on rising Islamophobic trends globally and supporting the UN’s broader efforts against religious intolerance.
Pakistan played a leading role in the Fifth Committee discussions and the adoption of the resolution marks a milestone in Islamabad’s multilateral engagement, following its successful push to designate March 15 as the International Day to Combat Islamophobia in 2022.
“We look forward to working with all delegation members in the upcoming session in the same spirit,” Durrani said, thanking the attendees, the 5th Committee Secretariat and all those who were part of the negotiations.
This month, Pakistan Prime Minister Shehbaz Sharif stressed the need to reverse an “alarming tide” of Islamophobia as the world marked the international day to combat the phenomenon.
He said March 15 not only serves as a “stark reminder” of the gravity of the challenges being faced by Muslims worldwide, but also as a powerful call to action, reflecting the collective will of the international community to combat Islamophobia through concrete legislative and policy measures.
“However, much more is urgently needed to reverse the alarming tide of Islamophobia and end the flagrant violations of fundamental human rights and religious freedoms,” Sharif said in a statement.
“At a time when religious intolerance is on the rise, we reaffirm that no justification exists for blasphemy or the desecration of sacred symbols under the guise of freedom of expression.”
Sharif said Pakistan was extremely proud to have led this important initiative at the UN and welcomed actions taken by some member states to outlaw the desecration of the Holy Qur’an as well as to address systemic marginalization of Muslims, urging the international community, human rights organizations, and global leaders to raise awareness against Islamophobia.


Blast in southwest Pakistan targets political party protesting arrest of rights defenders

Blast in southwest Pakistan targets political party protesting arrest of rights defenders
Updated 8 min 53 sec ago
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Blast in southwest Pakistan targets political party protesting arrest of rights defenders

Blast in southwest Pakistan targets political party protesting arrest of rights defenders
  • BNP party is protesting arrest of Dr. Mahrang Baloch, others after so-called violent demonstrations
  • Dr. Baloch and others were arrested last week and charged with sedition, murder and terrorism

QUETTA: An alleged suicide bomber on Saturday hit a protest camp set up against the arrest of a prominent ethnic rights activist in the southwestern Balochistan province, a government spokesman said, with no casualties reported. 

Parliamentarian Sardar Akhtar Jan Mengal and his Balochistan National Party (Mengal) have been leading a protest since Friday against the arrest of Dr. Mahrang Baloch, one of Pakistan’s most prominent human rights advocates, who has long campaigned for the Baloch ethnic group. 

She and other activists were arrested last week after they took part in a sit-in protest outside the University of Balochistan in the provincial capital of Quetta. They were demanding the release of other members of the Baloch Yakjehti Committee rights group, whom they allege have been detained by security agencies. 

Baloch and others have been charged with terrorism, sedition and murder after the demonstration ended in the death of three protesters, according to police documents. The Pakistan army and government have in the past variously referred to Baloch and her BYC as ‘terrorist proxies’ who are allied with militant separatist groups like the Balochistan Liberation army. The group denies the charge and says it leads peaceful protests for the rights of the Baloch. 

“An alleged suicide blast has taken place near the Mastung Luk Pass,” the Balochistan government spokesperson said in a statement, adding that the attack took place near the site of the BNP protest. “The participants, Sardar Akhtar Mengal, and all the political leadership of the BNP are safe.” 

No group has as yet claimed responsibility for the attack.

Mengal, the BNP chief, posted on ‘X’ that he was safe, calling the attack a “failed attempt to make our protest unsuccessful.”

“We have decided not to celebrate Eid Al-Fitr unless the government releases our daughters,” Mengal said as he addressed protesters during the early hours of Saturday.

Last year, Baloch was barred from traveling to the United States to attend a TIME magazine awards gala after being named on the 2024 TIME100 Next list of “rising leaders.” 

She began her activist career at the age of 16 in 2009 when her father went missing in an alleged “enforced disappearance.” His body was found two years later. Her BYC says it campaigns against such extrajudicial killings, abductions and other rights abuses against the ethnic Baloch people. The state denies official complicity. 

Protests and advocacy among the Baloch are often led by women, who say their male counterparts have suffered the worst in a decades-long state crackdown.

Pakistan has been battling a separatist insurgency in Balochistan for decades, where militants target state forces and foreign nationals in the mineral-rich southwestern province bordering Afghanistan and Iran.

Police actions against Baloch activists have intensified after Baloch separatists earlier this month launched a dramatic train siege that officials said ended in around 60 deaths, half of whom were separatists behind the assault.

More than a dozen United Nations experts demanded this week that Pakistan immediately release detained Baloch rights defenders and halt its crackdown on peaceful protests.


Eight soldiers, civilian killed in separate attacks in Pakistan — police

Eight soldiers, civilian killed in separate attacks in Pakistan — police
Updated 29 March 2025
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Eight soldiers, civilian killed in separate attacks in Pakistan — police

Eight soldiers, civilian killed in separate attacks in Pakistan — police
  • Last year was the deadliest year in almost a decade in Pakistan, with more than 1,600 people killed in militant attacks
  • Nearly half of them were security forces personnel, according to the Islamabad-based Center for Research and Security Studies

PESHAWAR: At least eight soldiers and a civilian were killed in western Pakistan on Friday in separate attacks along the border with Afghanistan, where violence has erupted in recent months, police told AFP.
Seven soldiers were killed in a security operation against “armed Taliban” in northwest Khyber Pakhtunkhwa province, a police source said on Saturday.
“Fighters hiding in a house fired on security forces,” the source said.
The army deployed combat helicopters during the hours-long fight, killing eight Taliban fighters, while six other soldiers were wounded, the source said.
A blast from a bomb planted by separatists on a motorbike also killed a soldier and a civilian further south in Balochistan, police officer Mohsin Ali told AFP.
The area was the scene of a spectacular attack last month when militants held hundreds of train passengers hostage and killed dozens of off-duty soldiers.
Three soldiers and a civilian were also wounded in the blast that took place as a military vehicle drove through Gwadar district, a sensitive area that hosts substantial Chinese infrastructure.
More than 190 people, mostly soldiers, have been killed in attacks since the start of the year by armed groups fighting the government in both Khyber Pakhtunkhwa and Balochistan, according to an AFP tally.
The Pakistani Taliban — known as Tehreek-e-Taliban Pakistan (TTP) — announced in mid-March a “spring campaign” against security forces.
Last year was the deadliest year in almost a decade in Pakistan, with more than 1,600 people killed in attacks — nearly half of them security forces personnel — according to the Islamabad-based Center for Research and Security Studies.
The violence is largely limited to Pakistan’s border regions with Afghanistan.


Pakistan PM’s aide meets UN chief, stresses need to oppose proposals for expulsion of Palestinians

Pakistan PM’s aide meets UN chief, stresses need to oppose proposals for expulsion of Palestinians
Updated 29 March 2025
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Pakistan PM’s aide meets UN chief, stresses need to oppose proposals for expulsion of Palestinians

Pakistan PM’s aide meets UN chief, stresses need to oppose proposals for expulsion of Palestinians
  • The development comes more than a month after the US president, Israeli PM remarked about relocation of Palestinians to Egypt, Jordan or other countries
  • Their remarks were rejected by Saudi Arabia, Egypt, Jordan, Pakistan and other Muslim nations apart from being condemned by international rights groups

ISLAMABAD: Tariq Fatemi, a special assistant to Pakistan Prime Minister Shehbaz Sharif, has stressed the need to oppose any proposals for the expulsion of Palestinians from their homeland, Pakistan’s mission at the United Nations (UN) said on Saturday, following Fatemi’s meeting with Secretary-General António Guterres.
During his meeting, Fatemi briefed the UN secretary-general about Pakistan’s priorities during its term as a non-permanent member of the Security Council that began last month, according to the Pakistani mission.
He reaffirmed Islamabad’s strong support for the UN’s central role in addressing global challenges, including those related to peace and security, development and climate change.
“SAPM [special assistant to the prime minister] said that the world community should call upon Israel to end its brutal campaign of violence and terror against the hapless Palestinians,” the Pakistani mission said in a statement.
“[He] stressed the need for strongly opposing proposals for the expulsion of the Palestinians from their homeland.”
The development comes more than a month after remarks by United States (US) President Donald Trump and Israeli PM Benjamin Netanyahu about the relocation of Palestinians to Egypt, Jordan or other countries, which were rejected by Saudi Arabia, Egypt, Jordan, Pakistan and other nations apart from being condemned by international rights groups.
Palestinian territory – encompassing the Gaza Strip and West Bank, including East Jerusalem – has been occupied by Israel since 1967. Pakistan does not recognize Israel and has consistently called for an independent Palestinian state based on “internationally agreed parameters.”
During the meeting, Fatemi also underscored Pakistan’s longstanding commitment to adherence to the principles of the UN Charter, including UN peacekeeping efforts, according to the Pakistani mission.
“Secretary-General Guterres thanked the SAPM for Pakistan’s active engagement at the United Nations and its role in maintaining international peace and security through its contribution toward UN Peacekeeping,” the Pakistani mission added.