ISLAMABAD: Media reports that prison authorities in Saudi Arabia are not helping to address issues affecting Pakistani inmates are not true, according to Pakistan’s Foreign Ministry.
Spokesman Mohammad Faisal said officials in the Kingdom have always extended full cooperation in matters involving detained Pakistani citizens and prisoners, and that the countries enjoy close and cordial relations.
“The rights of all prisoners are secured and the government of Saudi Arabia ensures the facilitation of inmates as per international law regarding living facilities, quality food, consular assistance and presence in court on dates of hearings,” said Faisal.
He added that the Pakistani Embassy in Riyadh and the Consulate General in Jeddah work with Saudi authorities to provide consular access to detainees, check on their welfare and offer all possible assistance.
In addition, said Faisal, Saudi authorities share information on detainees and help Pakistani mission staff arrange “visits to deportation centers to issue emergency travel documents to those who do not possess passports for traveling to Pakistan.”
He added that clemency requests from the relatives of prisoners are forwarded to the Royal Court, and assistance is given to arrange the departure of those awaiting deportation.
In addition, diplomatic staff visit “courts and meet with authorities to expedite cases and arrange the repatriation of prisoners who have completed their sentences.”
Ministry denies that Saudi Arabia fails to help Pakistani prisoners
Ministry denies that Saudi Arabia fails to help Pakistani prisoners
Pakistan stocks hit record high on hopes of rate cut, improved US ties
- Benchmark index gains 2,662 points, or 1.44 percent, to close at an all-time high of 187,761 points
- Engro, UBL, Hub Power, Fauji Fertilizer, Meezan Bank and Service Industries added 1,554 points to index
ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a record high as it surpassed the 187,500-point mark on Monday, with analysts citing improving ties with the United States and expectations of an imminent interest rate cut.
The benchmark KSE-100 index gained 2,662.86 points, or 1.44 percent, to close at an all-time high of 187,761.69 points, up from the previous close of 185,098.83 points, according to PSX data.
The stock gains came a day after President Donald Trump invited Prime Minister Shehbaz Sharif to join the so-called “Board of Peace” for Gaza, amid increasing Pakistan-US diplomatic and economic engagement since Trump’s rise to presidency.
“Falling government bond yields and improving Pakistan-US relations played a catalyst role in record close at PSX,” Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.
Meanwhile, Karachi-based market research firm Topline Securities said bulls extended their rally as hopes of a rate cut by the State Bank of Pakistan (SBP) fueled investor sentiment.
“Investor sentiment remained upbeat, largely fueled by rising expectations of an imminent interest rate cut,” it said in a post on X. “Market participants increasingly priced in a 50bps reduction in the upcoming monetary policy, which kept buying interest alive and underpinned broad-based gains.”
In December, the SBP cut its key policy rate by 50 basis points to 10.5 percent, resuming monetary easing after four meetings in a move that surprised many despite International Monetary Fund guidance to keep policy “appropriately tight” to anchor inflation expectations.
Engro Holdings Limited (ENGROH), United Bank Limited (UBL), Hub Power Company Limited (HUBC), Fauji Fertilizer Company Limited (FFC), Meezan Bank Limited (MEBL) and Service Industries Limited (SRVI) collectively added 1,554 points to the benchmark index on Monday, according to Topline Securities.
“Total market volumes stood at 1,195 million shares, while the value of shares traded amounted to Rs63.7 billion,” the research firm said. “[Bank Makramah Limited] BML led the volume chart, emerging as the most actively traded stock with 246 million shares.”
