ISLAMABAD: Improved cooperation between Pakistan’s parliament and the Saudi Shoura Council will have an impact on the whole course of bilateral relations, National Assembly Speaker Asad Qaiser told Arab News in an exclusive interview on Wednesday.
“We have signed a memorandum of understanding between the National Assembly of Pakistan and Saudi Shoura Council on Dec. 23 in Riyadh,” Qaiser said, adding that the agreement forges collaboration between the standing committees of the Pakistani parliament and of the Shoura Council.
They will collaborate to “directly benefit each and every field, as we have a standing committee for each ministry,” and the collaboration will lead to policy changes and enhance cooperation on the ministerial level, as every minister is a member of the committee related to his or her institution.
“Under the MoU, Pakistan will provide training to Saudi Shoura Council members at the Pakistan Institute of Parliamentary Studies (PIPS),” Qaiser said.
Economic ties are expected to improve through the collaboration as the standing committees for commerce “will work closely to enhance bilateral trade,” Qaiser said, citing very low current trading volumes between the two countries. The Assembly and Shoura “will make a combined standing committee and prepare recommendations for policy changes on both sides, which will be subsequently implemented by the respective commerce ministries.” The committee will also identify potential export goods.
He said that cultural exchanges as well would get a boost as Shoura chairman Abdullah bin Mohammed Al-Sheikh has shown great interest in enhancing cultural relations, especially as Pakistanis are historically and religiously familiar with Saudi culture.
“Both countries will also closely consult on legislative procedures under this MoU,” Qaisar said, adding that he has already started meetings with parliamentary leaders of different political parties in the National Assembly to get the agreement with Shoura “fully functional within the next few months.”
He said that during his last visit discussions took place on holding an Organization of Islamic Cooperation (OIC) foreign ministers session on Kashmir in Islamabad, as Saudi Arabia supports Pakistan’s approach to the situation in the Indian-administered territory.
“Pakistan always maintained that Kashmir issue should be resolved according to UN resolutions,” Qaiser said, adding that Saudi King Salman agreed with the stance and also expressed his desire for the OIC session to take place.
However, since tensions are developing in the Middle East, the meeting will have to be postponed.
Pakistan to train Saudi parliamentarians, says National Assembly Speaker
https://arab.news/gv8wm
Pakistan to train Saudi parliamentarians, says National Assembly Speaker
- Says Pakistan-Saudi parliamentary cooperation will lead to policy changes
- The two countries will also work closely to enhance bilateral trade
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.
