Israel-Oman meeting has 'strategic implications' for Pakistan, says minister

Shireen Mazari. (Photo courtesy: @pid_gov)
Updated 29 October 2018
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Israel-Oman meeting has 'strategic implications' for Pakistan, says minister

  • Human Rights Minister says no plane flew into Islamabad from Tel Aviv as reported
  • Comments follow meeting between Omani leader and Netanyahu on Friday

ISLAMABAD: Following a rare meeting between the leaders of Israel and Oman a day earlier, Federal Minister for Human Rights, Shireen Mazari, took to social media on Saturday to highlight the “strategic implications” that the rendezvous could have on Pakistan.
“Interesting how Israeli media, with a plane fake news, managed to divert Pak media’s attention away from the imp [sic] security issue of the Netanyahu-Oman visit which has strategic implications for Pak if Israel gets a permanent foothold in Oman where US mly (military) already has a presence,” she posted in a tweet. 

The Pakistan Tehreek-e-Insaf (PTI) government has strongly denied allegations that a private plane flew into Islamabad from Israel via Jordan. Reports of the incident went viral on news channels and social media platforms, with the opposition accusing the PTI government of being involved in “something fishy.”
The plane is said to have landed in Pakistan a day before Israeli Prime Minister Benjamin Netanyahu met with Oman’s leader Sultan Qaboos bin Said. According to Mazari, the “fake news” was created to divert the media’s attention from the meeting.
In a first-of-its-kind visit in 22-years, Netanyahu, on Friday, returned from an unannounced visit to Oman. According to the Associated Press (AP), the Israeli PM’s office said that he had been invited by the Omani leader after lengthy communications.
Oman state TV carried images of the two leaders holding talks, while Netanyahu shared a video of his visit on his official social media account terming it as “a special visit to Oman — making history!”
The Israeli PM was accompanied by his wife, the head of Mossad (Israel’s intelligence agency), the national security adviser, the foreign ministry director and other defense officials.
A senior Palestinian official told AP that Sultan Qaboos had offered to mediate between the Palestinians and Israelis and that Palestinian President Mahmoud Abbas had welcomed any “meaningful” peace process. However, the official added that the visit was mostly connected to Oman’s “regional role.”
While Oman’s influence is limited, its unique regional position could enable it to play a bigger role in mediating between Israel and archenemy Iran, the AP reported. Thus far, Israel and Oman have not maintained any diplomatic relations. The only Arab States to officially recognize Israel are Egypt and Jordan. Pakistan does not officially recognize Israel, nor does it maintain diplomatic relations with it.
The two countries have long maintained undeclared contacts at the lower levels with the only known interaction to have taken place in 2005 between ex-foreign minister Khurshid Kasuri and his Israeli counterpart Silvan Shalom.
On Sunday, however, before boarding a flight — for a three-day official visit to Turkey – Pakistan President Arif Alvi asserted that Pakistan “is not going to establish any ties with Israel.”


Pakistan stock market sheds over 2,000 points amid regional tensions

Updated 5 sec ago
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Pakistan stock market sheds over 2,000 points amid regional tensions

  • KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14
  • The development comes amid public unrest in Iran, possibility of a US strike

ISLAMABAD: The Pakistan Stock Exchange (PSX) fell sharply and lost more than 2,000 points during the intraday trade on Monday, with analysts blaming the slump on geopolitical uncertainty linked to heightened tensions in the region.

The benchmark KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14 points, down from 184,409.67 points at the weekend close, according to PSX data.

The development came amid public unrest in Iran over worsening economic conditions, with the death toll reaching nearly 550 and the government arresting more than 10,600 people in a crackdown.

US President Donald Trump said late Sunday his administration was in talks to set up a meeting with Tehran but cautioned he may have to act first as reports mount of increasing deaths and the government continues arrests.

“[Pakistan] stocks slumped on geopolitical uncertainty,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News. “Weak global equities, political noise, and security unrest played a catalyst role in selling activity at PSX.”

Meanwhile, Pakistani market research firm Topline Securities said activity slowed noticeably as buying interest from local funds eased after last week’s strong rally.

“With the market having advanced nearly 3 percent on a WoW (week on week) basis, investors chose to lock in gains, resulting in broad-based profit-taking during the session,” it said on X.

“The pullback appears to be a healthy consolidation after the recent sharp up-move, rather than a shift in the market’s underlying sentiment.”

It said that a total of 1,055 million shares were traded at the market on Monday, with Fauji Foods Limited (FFL) topping the volume chart with 65.6 million shares.

Pakistan’s stock market has gained momentum in recent months as broad institutional buying boosted investor confidence amid ongoing economic reforms under international lending programs.

Around 135,000 new investors have joined the PSX over the last 18 months. Last week, Pakistani stocks climbed to a fresh all-time high with the benchmark KSE-100 Index crossing the 186,000-point mark for the first time ever.