Pakistani planning minister tests positive for coronavirus as cases surge 

Pakistan's Planning Minister Asad Umar in Islamabad on April 18, 2019. (AFP/File)
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Updated 19 December 2020
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Pakistani planning minister tests positive for coronavirus as cases surge 

  • Asad Umar says will be isolating at home after getting his positive test result
  • Pakistan recorded 3,179 new coronavirus cases countrywide over the last 24 hours 

ISLAMABAD: Pakistani planning minister Asad Umar, who also heads the National Command and Control Center (NCOC) that oversees coronavirus mitigation efforts nationwide, said on Friday he had tested positive for COVID-19. 
Pakistan recorded 3,179 new coronavirus cases countrywide over the last 24 hours as a second wave of the epidemic gathered momentum, data released on Saturday showed. The number of deaths in the last 24 hours stood at 87 bringing the total fatality figure to 9,250. 
“Just got my covid test result and it is positive,” Umar said in a Twitter post. “Will be isolating at home.”

After a peak of over 6,800 daily infections in June, the number fell to a low of 213 in August, and remained below 700 for most of the last three months. But last month, the government announced that a second wave of the coronavirus had arrived, putting in place new guidelines, including mandatory face masks in public places and banning indoor dining at restaurants. Schools across the country have also been shut down, or switched to online classes, until mid-January.
Smart lockdowns were imposed in Karachi’s District Central and some neighborhoods in Peshawar this week following a surge in coronavirus cases. 
Earlier this month, the government of Prime Minister Imran Khan ruled out a complete lockdown and decided to continue the smart lockdown policy with strict implementation of safety guidelines given by the NCOC.
The country’s last comprehensive lockdown was lifted in May.


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

Updated 05 March 2026
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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.