Pakistan PM presented ‘compelling case’ at SCO summit for action to combat climate change — FO 

Pakistani Prime Minister Shahbaz Sharif delivers keynote address during the Shanghai Cooperation Organization (SCO) summit in Samarkand, Uzbekistan, on September 16, 2022. (Photo courtesy: Radio Pakistan)
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Updated 17 September 2022
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Pakistan PM presented ‘compelling case’ at SCO summit for action to combat climate change — FO 

  • PM Shehbaz Sharif apprised SCO leaders of details of human tragedy caused by deadly floods in Pakistan 
  • Experts blame the deluges, which have killed more than 1,500 people since mid-June, on climate change 

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif presented a compelling case at a summit of the Shanghai Cooperation Organization (SCO) for collective action by member countries to combat the ravages of climate change, the Pakistani foreign office said on Saturday. 

The gathering of Council of Heads of State (CHS) of the Shanghai Cooperation Organization (SCO) comprising China, Russia, four Central Asian countries — Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan — India and Pakistan took place in Samarkand on September 15 and 16. 

During the summit, regional leaders adopted the Samarkand Declaration which articulated collective stance of the SCO on important global and regional issues. 

PM Sharif’s statement at the summit conveyed Pakistan’s vision for strategic direction of the SCO in the face of global political and economic transformation. 

“The Prime Minister presented a compelling case for collective action by SCO countries to combat the ravages of climate change. He shared details of the human tragedy and the massive devastation caused by the climate calamity that struck Pakistan,” the Pakistani foreign office said in a statement. 

“The Prime Minister expressed deep appreciation for the support proffered by SCO leaders for relief and assistance to the people affected by the floods. SCO leaders expressed their support and solidarity with Pakistan at this critical time.” 

The regional summit came at a time when Pakistan is reeling from the aftermath of torrential rains and floods, which experts have blamed on climate change. 

The deluges have killed more than 1,500 people, washed away livestock and swathes of crops, and destroyed key infrastructure across the South Asian nation, where officials say the losses could go as high as $40 billion. 

The Uzbek president, on behalf of the SCO, appealed to the international community to support Pakistan in overcoming the devastating consequences of the floods, the Pakistani foreign office said. 

On the situation in Afghanistan, the prime minister underlined that there was a real possibility to establish sustainable peace in the land-locked country after 40 years of conflict, according to the statement. 

He called for a new pact between Afghanistan and the international community and the need for constructive engagement with the Afghan authorities. 

On the sidelines of the SCO Summit, PM Sharif met with the presidents of China, Russia, Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, Iran, Azerbaijan, Belarus and Turkiye. 

The foreign office said the prime minister’s participation in the Samarkand summit provided a significant opportunity to present Pakistan’s view point on important national, regional and global issues. 

The engagements with world leaders in Samarkand served to further strengthen Islamabad’s bilateral relations with these countries, it added. 


Pakistan stocks rebound on easing regional tensions, gain over 1,500 points

Updated 13 January 2026
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Pakistan stocks rebound on easing regional tensions, gain over 1,500 points

  • The development came after Iran said it was keeping communication channels with Washington open amid cost-of-living protests
  • It followed a threat by President Donald Trump last week to intervene militarily if Tehran continued cracking down on protesters

ISLAMABAD/KARACHI: The Pakistan Stock Exchange (PSX) edged higher on Tuesday as the benchmark index gained more than 1,500 points, with analysts citing easing regional tensions following signals of potential talks between Iran and the United States (US).

The benchmark KSE-100 index gained 1,567.36 points, or 0.86 percent, to close at 183,951.50 points, compared to the previous close of 182,384.14 points when the market had shed more than 2,000 points, according to PSX data.

Iran has been witnessing public unrest over worsening economic conditions. Around 2,000 people, including security personnel, have been killed in violent protests, Reuters reported, citing an Iranian official.

Tehran said on Monday that it was keeping communication channels with Washington open as US President Donald Trump imposed 25 percent tariffs on countries trading with the Islamic republic.

“Stocks showed sharp recovery at PSX after Iran and US signal talks over unrest in Iran,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

“Surging global crude oil prices and speculations ahead of corporate results in the earnings season played a catalyst role in bullish close.”

Najeeb Ahmed Khan Warsi, digital and retail business officer at Al-Habib Capital Market, said the index had seen a three-day bearish streak.

“Geopolitics and global volatility driving downturn, profit-taking and economic concerns weigh in,” he added.

Meanwhile, Pakistani market research firm Topline Securities said the benchmark index ended the session on a “positive note” on Tuesday.

“Trading interest remained subdued, as total market volumes reached 1,033 million shares, while the value of shares traded stood at Rs62.9 billion,” it said in a daily market review on X.

United Bank Limited (UBL), National Bank of Pakistan (NBP), Muslim Commercial Bank Limited (MCB), Lucky Cement Limited (LUCK) and Meezan Bank Limited (MEBL) jointly contributed 936 points to the index, according to the research firm.

Fauji Fertilizer Company Limited (FFC), Sazgar Engineering Works Limited (SAZEW) and Haleon Pakistan Limited (HALEON) collectively shaved 158 points off the index.

“Bank of Punjab (BOP) led the volume rankings, emerging as the most actively traded stock with 73 million shares,” Topline Securities added.