ISLAMABAD: Pakistan and Iraq have agreed to finalize the signing of a Memorandum of Understanding (MoU) which is aimed at ensuring a legal and risk-free migration of Pakistani manpower to Iraq, Pakistan’s state-run media reported on Friday.
The developments were agreed upon in a meeting between Zulfiqar Bukhari, Special Assistant to Prime Minister Imran Khan on Overseas Pakistanis and Human Resource Development, and Iraqi Labor Minister Dr. Basim Abdul Zaman Majeed Al Rubaie, in Baghdad, on Thursday.
Bukhari also met the Iraqi President Barham Salih, at his office in Baghdad, on Wednesday.
“Pakistani labor force in Iraq came under discussion,” Pakistan’s Ministry of Overseas Pakistanis and Human Resource Development said in a statement after the meeting.
Bukhari apprised Salih of the fact that Pakistan seeks an increase in its labor force in Iraq based on the development activities in the country.
“The meeting included the agenda of importing more Pakistani skilled and non-skilled manpower to Iraq. Zulfikar Bukhari said that the economic potential of Iraq is not to be underestimated,” the statement read.
“There is a positive response being received from Gulf countries for the import of skilled and non-skilled manpower from Pakistan,” the statement added, quoting Bukhari.
Pakistan and Iraq agree on measures for safe migration of manpower
Pakistan and Iraq agree on measures for safe migration of manpower
- PM Khan’s special assistant visited the Arab country this week
- Islamabad actively seeking an increase in its labor force in Baghdad
Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts
- Pakistani financial analyst attributes surge to falling inflation, investors expecting further policy rate cuts
- Pakistan’s finance ministry said Thursday that inflation had slowed to 5.6 percent year-on-year in December
KARACHI: Pakistani stocks continued their bullish run on Thursday, breaching the 176,000 points barrier for the first time after trading ended, with analysts attributing the surge to investors expecting further cuts in the policy rate.
The KSE-100 benchmark gained 2,301.17 points at close of business on Thursday, marking an increase of 1.32 percent to settle at 176,355.49 points.
Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last month, breaking a four-meeting hold in a move that surprised markets. Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis as per data from the finance ministry.
“Upbeat data for consumer price index (CPI) inflation at 5.6pc in December 2025 [with] investors expecting a further State Bank of Pakistan rate cuts on falling inflation data,” Ahsan Mehanti, CEO of Arif Habib Commodities Ltd., told Arab News.
The stock market witnessed a trading volume of 1,402.650 million shares, with a traded value of Rs48.424 billion ($173 million), compared with 957.239 million shares valued at Rs44.231 billion ($158 million) during the previous session.
Topline Securities, a leading brokerage firm in Pakistan, credited the surge to strong buying at the first session.
“This positivity can be accredited to buying by local institutions on the start of the new calendar year,” it said.
Pakistan’s Finance Adviser Khurram Schehzad highlighted that the bullish trend at the stock market reflected “strong investor confidence.”
“With lower inflation, affordable fuel, stronger reserves, rising digitization and a buoyant capital market, Pakistan’s economic outlook is clearly improving--supporting greater confidence, better investment sentiment and more positive momentum for 2026,” he said on social media platform X.
