Opposition politicians slam Pakistani foreign minister for 'irresponsible' comments on OIC

This file photo shows a general view of Parliament House building in Islamabad on April 27, 2018. (AFP)
Short Url
Updated 07 August 2020
Follow

Opposition politicians slam Pakistani foreign minister for 'irresponsible' comments on OIC

  • Shah Mahmood Qureshi said on Wednesday Islamabad would hold a meeting on Kashmir outside the OIC forum if the forum did not support Pakistan's stance
  • Opposition leaders call for introspection, say the statement could isolate Pakistan from some of its closest allies

ISLAMABAD: Opposition leaders on Thursday slammed the Pakistani foreign minister for what they described as ‘irresponsible’ comments on the Organization of Islamic Cooperation, saying the government should accept its own "diplomatic failures" on Kashmir rather than blaming others.
On Wednesday, in a TV interview, Pakistani foreign minister Shah Mahmood Qureshi said Islamabad expected the OIC to call a foreign minister’s meeting on the Kashmir issue, saying it would hold a meeting outside the OIC forum if it did not stand by Pakistan.

“It was an irresponsible statement by the foreign minister of Pakistan,” Pakistan People’s Party leader Sehar Kamran told Arab News. “He should identify his own diplomatic failures rather than blaming other countries or any forum.”
Pakistan’s historically tense ties with India, with whom it has a border dispute over the Himalayan Kashmir region, took a turn for the worse last August when the Indian government took away the special status of the part of Kashmir it administers and imposed a security lockdown on the region.
The government of Prime Minister Imran Khan has since lobbied for a reversal of the move around the world, including with the United States and the United Nations Security Council, asking for action against India for what it describes as the “illegal occupation” of the valley. 
“The PTI government has suffered a severe diplomatic crisis,” Kamran said. “They [government] have to identify what went wrong in their diplomatic efforts. Introspection is more important.”
Raja Zafarul Haq, senior leader of the Pakistan Muslim League-Nawaz, a major opposition party, said it was Pakistan’s responsibility to “activate” the OIC and its 57 members states against India on the Kashmir issue. 
“We should contact and talk to them to apprise them about the latest situation in Kashmir,” he added.
PMLN Secretary General Ahsan Iqbal also condemned the “irresponsible” statement by FM Qureshi, saying the government was “playing with Pakistan's vital interests.”
“The PTI government has isolated Pakistan on the world diplomatic stage,” Iqbal said. 
At a briefing at the foreign office on Thursday, outgoing spokesperson Aisha Farouqui said Pakistan and the people of Pakistan had higher expectations from the OIC than any other international organization because of “our deep-rooted fraternal ties with the OIC member states and with the OIC itself.”
“So the statement made by the foreign minister in the interview was a reflection of the people’s aspirations and expectations from the OIC to take forward the Jammu and Kashmir dispute internationally,” she said. “As a nation, we would like it [OIC] to play a leading role in raising the Jammu and Kashmir issue internationally.”


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
Follow

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.