ISLAMABAD: Pakistan’s interior minister, Sheikh Rashid Ahmed, said on Sunday that Prime Minister Imran Khan was personally handling the matter of Saudi Arabia and other Middle Eastern countries not accepting travelers vaccinated with Chinese jabs.
Saudi Arabia's updated travel restrictions require visitors to take Pfizer, AstraZeneca, Moderna or Johnson & Johnson jabs in order to enter the country, leaving out Chinese shots, including the Sinopharm, Sinovac, and CanSino-Bio vaccines widely used in Pakistan. In Qatar, only Pfizer and Moderna are approved. In Kuwait, Oman, only Pfizer and AstraZeneca.
In late May, Pakistan requested Saudi Arabia to include Chinese vaccines to its list of approved COVID-19 shots for visitors traveling to perform Hajj and Umrah.
"On the problem about Pfizer and vaccine (acceptance) in Saudi Arabia and Middle East, Imran Khan himself is handling this. And he said in a cabinet meeting that he was talking to the concerned countries," Rasheed told reporters in Islamabad.
Last month, the World Health Organization gave emergency authorization to Sinopharm, raising hopes in the countries that rely on in it that the Chinese vaccine would be soon widely approved.
PM Khan in talks with Middle Eastern countries over Chinese vaccine issue — interior minister
https://arab.news/89bg8
PM Khan in talks with Middle Eastern countries over Chinese vaccine issue — interior minister
- Saudi Arabia requires visitors to take Pfizer, AstraZeneca, Moderna or Johnson & Johnson jabs in order to enter their borders
- Pakistan requested Saudi Arabia to include Chinese vaccines to its list of approved COVID-19 shots for Hajj, Umrah pilgrims
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.
