ISLAMABAD: A Pakistani court on Wednesday expressed “confidence” Prime Minister Imran Khan would not publicize secret documents after he waved a letter at a recent public rally while saying that it proved a “foreign-funded conspiracy” against his government without revealing further details to protect Pakistan’s national interests.
The letter, which he said carried a written warning to his government and proved a nexus between the international conspiracy and the no-confidence resolution, has been widely debated since then.
The opposition has asked the prime minister to bring the document to an in-camera parliamentary proceeding for discussion, adding that Pakistan should also sever its diplomatic ties with the country that wrote it and expel its ambassador.
The Islamabad High Court made the observation in a written order after hearing a petition filed by a citizen.
“The worthy Prime Minister is an elected leader of the treasury benches,” it said. “The Court is confident that as an elected Prime Minister he would not disclose any information or act in breach of section 5 of the Official Secrets Act, 1923 nor the oath taken by him under the Constitution. Any decision taken by the worthy Prime Minister has to be in consonance with his obligations under the Official Secrets Act, 1923 and in letter and spirit of the oath of the office.”
It added the court had full trust the prime minister would not reveal any information which “may be prejudicial to the national interest and national integrity of Pakistan.”
The court said “the petition stands disposed-of in the above terms because passing a restraining order would unjustifiably reflect lack of confidence in an elected Prime Minister.”
Pakistan’s planning minister Asad Umar said on Tuesday the prime minister was willing to share the content of the letter with the chief justice of Pakistan.
According to Geo News, Khan shared some of the contents of the letter with senior journalists on Wednesday.
It informed that the letter was written by a Pakistani ambassador, though the government maintained it could not reveal the name of the country where the envoy was based.
Khan also told journalists that the letter would be shared with Pakistani lawmaker in an in-camera parliamentary briefing, said Geo News.
Pakistani court ‘confident’ PM Khan won’t publicize confidential information
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Pakistani court ‘confident’ PM Khan won’t publicize confidential information
- The prime minister recently waved a secret letter proving a ‘foreign conspiracy’ against his administration at a public rally
- The government believes there is a nexus between the international conspiracy and no-trust motion, will take parliament in confidence
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.
