Pakistan calls for international attention to illegal uranium sales in India

Pakistan's president Arif Alvi speaks during a session with military officers from 12 countries who were attending a security workshop by the National Defense University in Islamabad on June 25, 2021. (Photo courtesy: @PresOfPakistan/Twitter)
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Updated 26 June 2021
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Pakistan calls for international attention to illegal uranium sales in India

  • Since May, at least 13 kilograms of uranium worth millions of dollars were seized by Indian law enforcers
  • In early June, Pakistan called for a probe into illegal possession and sales of nuclear materials in India

ISLAMABAD: Pakistan President Arif Alvi on Friday called for international attention to illegal uranium sales in India after a number of recent incidents in which kilograms of the nuclear material were seized by Indian authorities.

Since early May, at least 13 kilograms of uranium worth millions of dollars were seized by law enforcers in the western Indian state of Maharashtra and in the eastern state of Jharkhand.

Pakistan has since expressed its "deep concern" over the incidents and called for a thorough investigation.

"International community should take serious note of illegal sale of uranium on black market in India," President Alvi said during a session with military officers from 12 countries who were attending a security workshop by the National Defense University in Islamabad.

"Radioactive substances in the wrong hands can endanger human lives and the security of nations," Alvi said, as quoted by his office.

 

 

On June 4, after the uranium incident in Jharkhand, Pakistan's foreign office said such incidents "point to lax controls, poor regulatory and enforcement mechanisms, as well as possible existence of a black market for nuclear materials inside India."

It also called for a probe over the security of nuclear materials in India to "prevent their diversion."

"It is equally important to ascertain the intent and ultimate user of the attempted uranium sale given its relevance to international peace and security as well as the sanctity of global non-proliferation regime."

"The United Nations Security Council Resolution 1540 and the IAEA Convention on the Physical Protection of Nuclear Material (CPPNM) make it binding on states to ensure stringent measures to prevent nuclear material from falling into wrong hands."
 
The UN resolution regarding the non-proliferation of weapons of mass destruction was adopted unanimously in 2004.

The IAEA convention, ratified by both Pakistan and India, establishes legal obligations for parties regarding the physical protection of nuclear material. It criminalizes offences related to illicit trafficking and sabotage of nuclear material.


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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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.