US defense secretary reiterates desire to continue working with Pakistan to further regional security

United States Secretary of Defense Lloyd J. Austin III conducts a media briefing in Washington, DC, on October 17, 2014. (AFP/File)
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Updated 25 May 2021
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US defense secretary reiterates desire to continue working with Pakistan to further regional security

  • Lloyd J. Austin speaks by phone with Pakistani army chief General Qamar Javed Bajwa
  • On Saturday, Pakistani national security adviser Dr. Moeed Yusuf also met his US counterpart

ISLAMABAD: United States Secretary of Defense Lloyd J. Austin III said on Tuesday he had spoken by phone with Pakistani army chief General Qamar Javed Bajwa, and expressed the desire of the US “to continue to work together to further regional security and stability.”
Earlier this month, the Pakistani army chief offered Islamabad’s support for the Afghanistan peace process in a meeting with President Ashraf Ghani in Kabul amid growing violence as the United States withdraws its troops.
Pakistan is a key player in moves to resolve the conflict between the Kabul government and the Taliban insurgents.
In the past, Islamabad has been accused of harboring the Taliban — a charge it denies — but in recent years Washington and other Western powers have acknowledged its efforts to push the militant group to take part in peace talks.
“Today I had the chance to speak with Pakistan’s Chief of Army Staff General Qamar Javed Bajwa,” Austin said on Twitter. “I reiterated my appreciation for the US – Pakistan relationship and my desire to continue to work together to further regional security and stability.”

A Pentagon statement echoed Austin’s words, saying “Secretary Austin reiterated his appreciation for Pakistan’s support for Afghanistan Peace Negotiations and expressed his desire to continue to build on the US – Pakistan bilateral relationship.”
The two leaders also discussed “regional dynamics and our shared interest in security and stability in the region.”
US National Security Adviser Jake Sullivan also met his Pakistani counterpart, Dr. Moeed Yusuf, on Sunday and “had a positive conversation on a range of bilateral, regional and global issues of mutual interest and agreed to advance practical cooperation on these issues,” Yusuf’s office said in a statement on Monday evening.
Last week, Pakistani Foreign Minister Shah Mahmood Qureshi traveled to New York to attend an emergency session of the United Nations General Assembly on Palestine and interacted with several US lawmakers, inviting a group of fifteen US lawmakers to visit Pakistan in June for consultations with their Pakistani counterparts on improving bilateral relations.


Pakistan capital market transitions to T+1 settlement cycle ahead of multiple advanced markets

Updated 10 February 2026
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Pakistan capital market transitions to T+1 settlement cycle ahead of multiple advanced markets

  • A T+1 settlement cycle means that securities transactions are finalized and settled one business day after trade date
  • Effective from Feb. 9, all eligible trades at the PSX are now settled on a T+1 basis, replacing the previous T+2 cycle

KARACHI: Pakistan’s capital market has officially transitioned to the Trade plus one (T+1) settlement cycle, a landmark reform that strengthens efficiency, reduces risk and aligns the country with international best practices, the Pakistan Stock Exchange (PSX) said on Tuesday.

A T+1 settlement cycle means that securities transactions are finalized and settled one business day after the trade date, which reduces counterparty risk and improves capital efficiency in the exchange of funds and securities. 

Effective from Feb. 9, all eligible trades at the PSX are now settled on a T+1 basis, replacing the previous T+2 cycle. The transition was implemented under the guidance of the Securities and Exchange Commission of Pakistan (SECP) through close collaboration among all stakeholders, according to the PSX.

It aligns Pakistan’s capital market with leading markets such as the United States, Canada, Mexico, Argentina, Jamaica and China, which have already adopted shorter settlement cycles. Europe, the UK and Switzerland are set to follow by 2027. By moving early, Pakistan has demonstrated its commitment to modernization and investor protection.

“The transition to the T+1 settlement cycle brings important advantages for Pakistan’s capital market. It enables faster access to funds and securities, improving liquidity, while reducing settlement and counterparty risk through shorter exposure periods,” the PSX said.

“Quicker trade finalization enhances efficiency and the reform strengthens investor confidence, particularly among institutional and foreign investors. Together, these benefits support a stronger and more resilient market aligned with global best practices.”

Pakistan’s stock market has touched historic highs in recent months as broad institutional buying boosted investor confidence amid ongoing economic reforms under international lending programs. Pakistani state media reported in Jan. around 135,000 new investors had joined the PSX over the last 18 months.

SECP Chairman Dr. Kabir Ahmed Sidhu commended the PSX, the Central Depository Company and the National Clearing Company of Pakistan for the successful implementation of the T+1 settlement system.

“The reform brings Pakistan’s capital market at par with modern jurisdictions by accelerating trade settlement, reducing counterparty and market risks, and enhancing liquidity,” he was quoted as saying by the PSX.

“The adoption of T+1 will strengthen investor confidence and align Pakistan’s capital market with evolving international standards and global best practices.”