ISLAMABAD: Pakistan has issued over 1,100 visas to Sikh pilgrims from India on the occasion of the religious Vaisakhi festival, the foreign office in Islamabad said on Wednesday.
Vaisakhi, also spelled Baisakhi, marks the beginning of the Sikh new year, and is observed with prayer services in gudwaras, or Sikh temples. It is celebrated on April 13 or 14 every year and also marks the day when Gobind Singh, the 10th and final prophet, ended the concentration of Sikh leadership in one human and established the order of Khalsa, baptized Sikhs, who were to be guided by the holy scripture, known as the Adi Granth, and who were to follow precepts of belief, behavior and dress.
Hundreds of Indian Sikhs come to Pakistan each year to celebrate Vaisakhi at one of their religion’s holiest shrines in the northern city of Hasanabdal — the Panja Sahib shrine, about 35km west of the capital Islamabad.
“The High Commission for Pakistan in India has issued over 1100 visas to Sikh pilgrims from India to participate in the annual Baisakhi celebrations from 12-22 April 2021,” the Pakistani High Commission said in a statement on Wednesday evening. “Under the framework of the Pakistan-India Protocol on Visits to Religious Shrines of 1974, a large number of Sikh Yatrees from India visit Pakistan to observe various religious festivals/occasions every year.”
The government of Pakistan had issued the visas as a “special gesture” in view of the importance of Vaisakhi for Punjabis and Sikhs, the foreign office said, and reflected “the commitment of the Government of Pakistan to faithfully implement the bilateral Protocol on Visits to Religious Shrines” signed between Pakistan and India.
In November 2019, Prime Minister Imran Khan formally inaugurated the Kartarpur Corridor, which provides visa-free access from India to the Pakistani town of Kartarpur, home to a temple that marks the site where the founder of Sikhism, Guru Nanak, died.
Pakistan issues over 1,100 visas to Indian Sikhs for Vaisakhi religious festival
https://arab.news/c4epd
Pakistan issues over 1,100 visas to Indian Sikhs for Vaisakhi religious festival
- Vaisakhi marks beginning of Sikh new year and is a critical day in formation of Sikh religion, is celebrated on April 13 or 14 every year
- Under Pakistan-India Protocol on Visits to Religious Shrines, large number of Sikh pilgrims from India visit Pakistan to observe various religious festivals
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.
