United Nations: Pakistan reaffirmed its dedication to the Palestinian cause at the 2019 pledging conference for the cash-strapped UN agency that assists Palestinian refugees by announcing a fresh commitment of financial support.
“The international community must not fail the Palestinian people,” Ambassador Maleeha Lodhi told the pledging event for the United Nations Relief and Works Agency for Palestine (UNRWA) held at UN headquarters in New York on Tuesday.
The UNRWA ran into deep financial trouble more than a year ago when the Trump administration stopped US funding of UNRWA, and called for the agency to be dissolved, saying it was no longer justified 70 years after the start of the Israeli-Palestinian conflict and the creation of Israel.
“Today, I humbly ask all donors to maintain their support for UNRWA at last year’s level,” UN Secretary-General Antonio Guterres said as he opened the pledging conference.
“We know what is at risk: education for a half million children; 8 million health care visits a year; emergency relief for 1.5 million. In Gaza alone, one million Palestine refugees depend on UNRWA for food,” he said.
Last year, UNRWA relied on extra money from member states and internal savings to cover a
US $ 446 million budgetary gap. This year it unveiled a budget of US $1.2 billion, unchanged from 2018.
Founded in 1949, UNRWA runs schools and provides health care for some five million Palestinian refugees in Jordan, Lebanon, Syria, the West Bank, and the Gaza Strip.
In her remarks, Ambassador Lodhi backed the UN chief’s call, saying Pakistan would make a “voluntary contribution that is commensurate to to the contribution we made to UNRWA, last year.”
“Amid all their trials and tribulations, Palestinian refugees have indeed, been reassured in their hopes by the constant presence of UNRWA,” the Pakistani envoy said.
Pakistan announces fresh support to UN agency assisting Palestinian refugees
Pakistan announces fresh support to UN agency assisting Palestinian refugees
- Urges international community not to fail the Palestinian people
- The agency ran into deep financial trouble more than a year ago when Trump administration seized its funding
Pakistan stocks tumble 2.3% as Middle East conflict rattles investors
- KSE-100 posts weekly loss of 6.3% as geopolitical tensions trigger sell-off
- Foreign investors dump $25.5 million in equities amid global energy supply fears
ISLAMABAD: Pakistan’s benchmark stock index fell 2.3% on Friday as investors sold shares ahead of the weekend amid growing fears that the escalating conflict involving Iran could disrupt global energy supplies and trade routes.
The KSE-100 index closed down 3,714.57 points at 157,496.10, after touching an intraday high of 161,435.83 and a low of 157,072.64, according to the Pakistan Stock Exchange (PSX) data. Trading volume stood at about 196 million shares with a value of roughly Rs18.8 billion ($67 million).
The decline capped a volatile week for Pakistani equities, with the benchmark index falling 6.3% week-on-week as geopolitical tensions between Iran, the United States and Israel unsettled investors and triggered risk-off sentiment across regional markets.
“KSE-100 Index declined by -6.3% on a week-on-week basis, and this decline can be attributed to the Middle East conflict (US-Israel vs. Iran), where investors sold their positions in the backdrop of increasing risk to global energy supply and trade routes,” brokerage house Topline Securities said in its weekly review.
Topline said foreign corporate investors were among the largest sellers during the week, offloading equities worth $25.5 million, while mutual funds sold shares worth $54.5 million amid investor redemptions.
Banks, insurance companies and local corporates partly cushioned the sell-off, buying equities worth $36 million, $15.7 million and $14.3 million respectively during the week, according to the review.
Other economic developments during the week included Pakistan’s consumer price inflation for February rising to 6.98% from 5.80% in January and the country’s trade deficit widening to $2.98 billion for the month, up 8% from the previous month and 25% year-on-year.
Average daily trading volumes during the week stood at around 658 million shares, with average daily value reaching about Rs36.2 billion ($130 million), Topline said.
