ISLAMABAD: The United Arab Emirates on Tuesday delivered a third batch of medical and food supplies to Pakistan to support its fight against the coronavirus pandemic, the UAE Embassy said in a statement.
“The United Arab Emirates today sent an aid plane containing 14 metric tons of medical and food supplies to Pakistan to bolster the country’s efforts to curb the spread of COVID-19,” the statement informed.
The aid will assist approximately 7,000 medical professionals as they work to contain the virus.
“As part of the bilateral cooperation that has underpinned the brotherly relations between our two countries for decades, the UAE is proud to extend assistance to Pakistan in furtherance of global solidarity in the fight against COVID-19,” Hamad Obaid Al Zaabi, UAE Ambassador to Pakistan, noted.
“Through this aid, we honor the frontline health care workers in Pakistan and around the world who are working tirelessly to put an end to this crisis,” he remarked.
The UAE delivered the first batch of critical medical supplies to Pakistan on April 2. On April 5, the second batch of 11 metric tons of medical supplies provided by the UAE arrived in Islamabad.
“To date, the UAE has provided more than 320 metric tons of aid to over 30 countries, supporting nearly 320,000 medical professionals in the process,” the statement read.
In the past two weeks, Pakistan has witnessed a surge in COVID-19 cases, and more than 14,000 people have so far been diagnosed with the respiratory illness with more than 300 related deaths.
According to the health ministry data, there are 4,956 patients in Sindh, 5,640 in Punjab, 1,984 in Khyber Pakhtunkhwa, 853 in Balochistan, 320 in Gilgit-Baltistan, 261 Islamabad and 65 in Azad Kashmir.
So far, 157,223 tests have been done in the country. The authorities conducted 6,417 tests during the last 24 hours.
UAE delivers third batch of medical, food supplies to Pakistan to fight virus
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UAE delivers third batch of medical, food supplies to Pakistan to fight virus
- Aid will assist approximately 7,000 medical professionals as they work to contain the virus
- UAE is proud to extend assistance to Pakistan in furtherance of global solidarity in the fight against COVID-19, says Ambassador Al Zaabi
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.
