ISLAMABAD: Pakistan’s former military ruler General (r) Pervez Musharraf may not return to his home country any time soon, said one of his close confidants on Saturday, since doctors have asked him to avoid air travel.
Musharraf came into power in a bloodless coup in 1999 after former prime minister Nawaz Sharif tried to dismiss him as army chief. After ruling the country for almost a decade, he was put on a treason trial and sentenced to death in absentia for violating the constitution.
Prior to that, however, Musharraf had left Pakistan in 2016 to seek medical treatment in the United Arab Emirates. He has lived in the Arab country since then, though it was said more recently that he was in a critical condition and wanted to return to Pakistan.
In a conversation to a local newspaper, his former principal secretary, Tariq Aziz, said that “Musharraf was keen to return home but his doctors were coming in the way.”
He informed that the UAE government was prepared to provide him a wide-bodied Boeing-777 plane by converting it into an air ambulance, but the doctors were advising him against air travel.
“Aziz said that the former president was admitted to a state-of-the-art hospital in the UAE,” The News wrote. “A competent team of doctors was attending to him but staying away from the motherland was causing him uneasiness.”
Aziz, who became friends with Musharraf in the college, said he was in touch with the former general’s family in the UAE.
In the last few days, Pakistan’s top civil and military leaders have said that Musharraf should be allowed to return to the country, though there are several politicians and civil society activists who have been demanding his accountability.
Aziz said that Musharraf was grateful to all those who had prayed for his health despite their political differences with him.
Musharraf advised against flying back to Pakistan due to medical reasons — media
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Musharraf advised against flying back to Pakistan due to medical reasons — media
- According to one of his close confidants, the UAE is willing to provide the former general an air ambulance
- Tariq Aziz says a competent team of doctors is looking after Musharraf in the Middle Eastern country
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.
