ISLAMABAD: The first batch of the CanSino Biologics COVID-19 vaccine that the Pakistani government has purchased from China arrived in Islamabad on Tuesday night. Chinese state media reported on Wednesday.
On Tuesday, Asad Umar, the minister in charge of COVID-19 operations, said Pakistan would receive “bulk vaccine” from CanSino by mid-April, from which 3 million doses would be made. The bulk vaccine would be “formulated, sterilized and packed in Pakistan,” he said.
Last week, Umar said Pakistan had bought more than 1 million doses of the Chinese Sinopharm and CanSino Biologics COVID-19 vaccines, its first purchase from any manufacturer, having previously relied on donations.
“The first batch of CanSino COVID-19 vaccines that the Pakistani government purchased from China arrived here Tuesday night,” Xinhua news agency reported. “Earlier, the third phase trials of the CanSino vaccine had been conducted in Pakistan and it is the second Chinese COVID-19 vaccine that Pakistan approved for emergency use in the country.”
The vaccine shipment comes amid a third wave of the coronavirus in Pakistan, with 4,757 new cases recorded in the last 24 hours, with 78 deaths.
Pakistan began a vaccination drive last month with over a million doses of Sinopharm vaccines donated by long-time ally China, but is scrambling to get more supplies as it awaits WHO/COVAX/GAVI allocations of AstraZeneca’s vaccine, which have been delayed.
Last year Pakistan had participated in the country’s first Phase 3 clinical trial for CanSino’s candidate, Ad5-nCoV, led by the government-run National Institute of Health (NIH) along with pharmaceutical company AJM — the local representative of CanSino.
On Monday, President Arif Alvi as well as Defense Minister Pervez Khattak announced they had both tested positive for COVID-19. On Tuesday, Pakistan’s former finance minister Abdul Hafeez Shaikh tested positive for the coronavirus, a day after being removed from his post.
Prime Minister Imran Khan also tested positive for the coronavirus this month, but his aides say he is now “fully recovered.”
First purchased batch of China’s CanSino vaccine arrives in Pakistan
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First purchased batch of China’s CanSino vaccine arrives in Pakistan
- Pakistan says will get “bulk vaccine” from CanSino by mid-April, from which 3 million doses to be “formulated, sterilized and packed in Pakistan”
- Pakistan began a vaccination drive with over a million doses of Sinopharm donated by China and is scrambling to get more supplies
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.
