ISLAMABAD: Pakistan has purchased 13 million doses of COVID-19 vaccine doses from three Chinese companies, its de facto health minister told Reuters on Thursday.
Faisal Sultan said Pakistan had procured the vaccine from Sinopharm, CanSinoBio and Sinovac.
The purchased vaccine is expected to begin arriving in May with 6.7 million doses and the rest in June.
He didn’t give a breakdown of how many shots each were supplying, saying there could be some plus and minus for each given the pressure on companies.
“We will be continuously procuring from all available sources across the world,” he said. “For now, China remains the primary source for vaccines to meet our present and ongoing needs but all our options are open for effective and safe vaccines,” he said.
Sultan said first tranche of GAVI/COVAX program that was due early March would also be arriving to add to the latest procurement.
“We are likely to get around 2.4 million doses of AstraZeneca vaccine under GAVI/COVAX over the period of May and June,” he said, adding that “the possible source for this initial tranche may be South Korea.”
COVID cases have been rising steadily in the South Asian nation of 220 million which recorded 201 deaths on Tuesday, the highest since the pandemic began.
The Health Ministry said total deaths crossed 17,680 with over 150 on Thursday with 5,480 coronavirus cases adding to a total of 815,711.
Pakistan to get 15.4 million COVID-19 vaccine doses in next two months — health chief
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Pakistan to get 15.4 million COVID-19 vaccine doses in next two months — health chief
- Faisal Sultan said Pakistan had procured the vaccine from Sinopharm, CanSinoBio and Sinovac
- He said another 2.4 million doses of the AstraZeneca vaccine will arrive under the GAVI/COVAX program
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.
