ISLAMABAD: United States Central Command (CENTCOM) Chief General Kenneth McKenzie held a meeting with Pakistan’s Army Chief General Qamar Javed Bajwa on Monday to discuss the regional security situation and the ongoing peace efforts in Afghanistan.
According to an official statement by the military’s media wing, ISPR, the meeting focused on “geostrategic environment and regional security,” and the two sides discussed the situation in Afghanistan and Kashmir.
The meeting came at a time when tensions have once again flared up between the two South Asian nuclear-armed neighbors, India and Pakistan, after New Delhi revoked the limited constitutional autonomy of the Muslim-majority Jammu and Kashmir region on August 5.
India’s rightwing Hindu nationalist government also confined the residents of the disputed Himalayan region to their homes, clamped down on local leadership and imposed a near-total communications blackout in the area.
Apart from the situation in Kashmir, there has also been upsurge of violence in Afghanistan: The war-torn country has witnessed a breakdown of talks between the United States and Taliban, though the two sides were said to be close to a peace deal.
Pakistan’s foreign office in a statement on Sunday urged the US and Taliban to re-engage in peace negotiations.
“Pakistan has been facilitating the peace and reconciliation process in good faith and as a shared responsibility, and has encouraged all sides to remain engaged with sincerity and patience,” the statement said.
“Pakistan reiterates its principled policy stance that there is no military solution to the conflict in Afghanistan and urges that both sides must re-engage to find negotiated peace from the ongoing political settlement process. Pakistan looks for optimized engagement following earliest resumption of talks,” it added.
On September 7, Pakistan hosted the third round of China-Afghanistan-Pakistan Foreign Ministers’ Trilateral Dialogue in Islamabad in which the three top diplomats of the participating countries reiterated their resolve to further deepen various strands of cooperation.
Top Pak-US military commanders discuss situation in Kashmir, Afghanistan
Top Pak-US military commanders discuss situation in Kashmir, Afghanistan
- The meeting focused on geostrategic environment and regional security, says ISPR
- The interaction between the two officials comes soon after President Trump called off negotiations with the Taliban
Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst
- Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
- Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity
ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said.
Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday.
The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.
Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday.
“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.
An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.
However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days.
Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.
The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.
Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.
Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.
