New US travel advisory for Pakistan a recognition of improved security – FO

An airport security personnel wearing mask stands guard at Islamabad International Airport on May 5, 2020. (Photo courtesy: @mophrd/Twitter)
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Updated 08 August 2021
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New US travel advisory for Pakistan a recognition of improved security – FO

  • Washington upgraded its recommendations from ‘no travel’ to ‘avoid unnecessary travel’ in mid-July
  • Cites Islamabad’s ‘concerted efforts to counter terrorism and ‘moderate’ levels of COVID-19 for its decision

ISLAMABAD: Islamabad has welcomed Washington’s revision of a travel advisory to Pakistan, which acknowledges improved security in the country and its “effective handling” of the COVID-19 outbreak, the Foreign Office said on Saturday.
“We welcome the recent revision of travel advisory by US which has upgraded Pakistan to Level-3,” FO spokesperson Zahid Hafeez Chaudhri said in a Twitter post.
“The upward revision is an acknowledgement of the improved security environment in Pakistan and effective handling of COVID-19 pandemic,” he added.

On July 19, the US State Department issued a new advisory for Pakistan, upgrading it from “no travel” to “avoid unnecessary travels.”
Previously, the advisory was at the highest Level 4 of “do not travel.”
“Pakistan’s security environment has improved since 2014 when Pakistani security forces undertook concerted counter terrorist and counter militant operations,” the order said.
It added that the Center for Disease Control and Prevention (CDC) had issued a “Level 2 Travel Health Notice for Pakistan due to COVID-19, indicating a moderate level of COVID-19 in the country.”
“Your risk of contracting COVID-19 and developing severe symptoms may be lower if you are fully vaccinated with an FDA authorized vaccine...” it said.
In June, the CDC eased travel recommendations for over 110 countries and territories as part of its assessments of COVID-19 risks.
However, the latest State Department order “restricted” travel by US government personnel within Pakistan, adding that more curbs on movements may occur at any time, depending on local circumstances and security conditions, which can “change suddenly.”
The advisory further asked US citizens not to travel to “Balochistan province, and Khyber Pakhtunkhwa (KPK) province, including the former Federally Administered Tribal Areas (FATA), due to terrorism and kidnapping,” in addition to the immediate vicinity of the Line of Control (LoC) in Kashmir due to “terrorism and the potential for armed conflict.”


Pakistan stocks plunge in record one-day fall as selling pressure grips market

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Pakistan stocks plunge in record one-day fall as selling pressure grips market

  • KSE-100 sheds 6,683 points, steepest drop in its history
  • Foreign selling, thin Ramadan trading volumes deepen rout

ISLAMABAD: Pakistan’s benchmark stock index posted its sharpest single-day decline on Thursday, as heavy selling by foreign investors and financial institutions triggered a broad market rout amid reduced trading activity during Ramadan.

The KSE-100 index closed at 172,170, down 6,683 points, after falling as much as 7,205 points intraday in a session marked by extreme volatility and persistent selling pressure, according to market data.

The selloff came as investors remained cautious in the face of continued foreign corporate outflows, while local insurance companies also emerged as major sellers, further weakening sentiment and accelerating losses.

“Carnage was witnessed at the local bourse as the KSE-100 Index suffered its steepest single-day fall in history,” brokerage Topline Securities said in a market note, adding that institutional selling intensified the downward momentum. 

“Persistent foreign corporate selling continued to dampen sentiment and keep investors on the sidelines.”

Trading hours shortened for Ramadan also contributed to sharp price swings, as thinner volumes amplified market moves and reduced liquidity.

Major index-heavy stocks including Fauji Fertilizer Company, Engro Holdings, United Bank Limited, Oil & Gas Development Company, Pakistan Petroleum Limited and Meezan Bank led the decline, collectively wiping more than 2,100 points off the benchmark.

Overall activity remained subdued, with total trading volumes recorded at 542 million shares and turnover at Rs27.36 billion ($97.6 million ). WorldCall Telecom led the volumes chart with over 84 million shares traded.

Analysts said the combination of institutional selling and limited participation heightened volatility, leaving investors wary in the near term.