Thousands protest, demand restoration of peace in Swat Valley day after school van attack

Residents take part in a protest a day after an attack on a school bus in Mingora on October 11, 2022. (AFP)
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Updated 11 October 2022
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Thousands protest, demand restoration of peace in Swat Valley day after school van attack

  • Unidentified gunmen opened fire on a school van in Swat’s Charbagh area on Monday, killing driver and injuring a student
  • Locals fear a return of militants amid a stalled peace deal with Islamabad and drawn-out negotiations that began last year

PESHAWAR: Thousands came out in protest on Tuesday in Swat Valley in northwest Pakistan, a day after unidentified gunmen on a motorcycle opened fire on a school van, killing the driver and injuring one student. 

Though the Pakistani Taliban (TTP) have denied involvement, the attack was reminiscent of the 2012 TTP attack on Malala Yousafzai, who was targeted, aged 15, for defying the militant group with her outspoken views on women’s right to education. 

TTP insurgents took partial control of Swat Valley in Khyber Pakhtunkhwa province in 2007, before being ousted two years later in a major military operation hailed as a telling blow against militant violence. During this time, militants unleashed a reign of terror, killing and beheading politicians, singers, soldiers and opponents. They banned female education and destroyed almost 200 girls’ schools. 

In recent weeks, there have been widespread reports of a return of militants to the valley, amid a stalled peace deal with Islamabad and drawn-out negotiations that began last year. 

Last month, a bombing claimed by the TTP killed eight people, including influential anti-Taliban leader Idrees Khan, in what was the first major bombing in the area in more than a decade. 

On Tuesday, political activists and members of civil society and the public came out on the city’s main intersection chanting slogans against Monday’s attack and calling for the restoration of peace. 




Relatives and residents take part in a protest with the body of a school bus driver a day after he was shot dead in an attack on his bus in Mingora on October 11, 2022.  (AFP)

The protest was organized by the activist group, the Swat Olasi Passion, and the ethnic rights Pashtun Tahafuz Moment (PTM). 

“The protest was organized to condemn several incidents of terrorism that have been reported during the last few weeks in Swat,” Mazhar Azad, one of the organizers of the priests, said. “The protest has been organized after several attacks on local people.” 

A participant in the protest and the spokesperson of the Swat Qami Jargi, Ahmad Shah, said the protesters wanted “justice done” and the suspects in Monday’s attack arrested immediately. He called for the state to ensure peace in Swat. 

Former senator Mushtaq Ahmad Khan raised slogans of “We don’t accept this!” referring to reports of the return of the Taliban to Swat. 

“Fencing has been done, the army is guarding the border,” he said, referring to the border between Pakistan and Afghanistan. “[Paramilitary] Frontier Corps, the police are there, then how have the Taliban come [back] to Swat?” 

Khan said the family of the deceased driver had no personal enmities. 




Relatives and residents take part in a protest with the body of a school bus driver a day after he was shot dead in an attack on his bus in Mingora on October 11, 2022. (AFP)

The head of the PTM, Pashteen, questioned if the Taliban were returning to Swat as part of a deal made during ongoing talks. The military and the government have in the past denied this. 

Mohammad Khurasani, a spokesperson for the TTP, condemned the attack on Monday and said that the group was not involved. 

Sawab Khan, president of the Private Schools Management Association, told The Associated Press that all 1,300 private schools in the Swat Valley were shut Monday and Tuesday. From Wednesday, private schools would observe a partial strike and teachers and staff would hold a demonstration. 

“The government is not taking the issue seriously,” Haider Ali, a social activist who was among the protesters, told local media, saying the suspects should be arrested immediately. 

“We have now given 24 hours to the government to meet our demands,” he warned, “or else we will march to Islamabad.” 
 


Pakistan stocks close at record high over current account surplus, falling bond yields

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Pakistan stocks close at record high over current account surplus, falling bond yields

  • KSE-100 index gains 1,646.79 points or 0.97% to close at new high of 171,960.64 points
  • Pakistan’s central bank posted a current account surplus of $100 million in November

KARACHI: Pakistani stocks closed at an all-time high of 171,960.4 points on Thursday, with financial analysts attributing the surge to increasing investor confidence stemming from a current account surplus reported in November and a drop in government bond yields.

The benchmark KSE-100 index gained 1,646.79 points or 0.97% to close at an all-time high of 171,960.64 points on Thursday. The previous day, Pakistani stocks surged to 170,313.85 points at close of business. 

Ahsan Mehanti, chief executive officer at Arif Habib Commodities, said the optimistic mood at the stock exchange was fueled by the $100 million current account surplus reported by the central bank in November.

“Speculations ahead of year-end close and fall in government bond yields up to 70 basis points after the SBP (State Bank of Pakistan) policy easing played the catalyst role in bullish activity at PSX,” Mehanti told Arab News. 

The surplus was a welcome development for Islamabad as Pakistan’s central bank reported a $291 million deficit in October.

Topline Securities, a Pakistani brokerage firm, said in its daily market review that strong buying by local funds followed a drop in Pakistan Investment Bond (PIB) yields, which boosted investor confidence.

PIB yields are the returns on bonds or government-backed securities that pay fixed semi-annual interest, with rates influenced by market demand and SBP auctions.

“Strength in ENGRO (Engro Corporation), FFC (Fauji Fertilizer Company), UBL (United Bank Limited), LUCK (Lucky Cement) and BAHL (Bank AL Habib) underpinned positive momentum, collectively contributing 1,504 points to the index,” the brokerage firm wrote on X. 

“This upside was partly offset by declines in PIOC (Pakistan International Oil Company), DHPL (D.H. Corporation Limited) and MLCF (Millat Tractor Limited), which together subtracted 176 points.”

The sustained rise in equities comes amid improving liquidity conditions and continued investor participation, with market participants focusing on corporate earnings, sector-specific developments and broader macroeconomic signals.

Earlier on Monday, Pakistan’s central bank cut its key policy interest rate by 50 basis points to 10.5%, a move that surprised analysts and followed four consecutive policy meetings where rates were held unchanged.

The cut came despite an International Monetary Fund staff report earlier this month cautioning against premature monetary easing.

Inflation eased to 6.1% in November, remaining within the SBP’s target band, though analysts have warned that price pressures could resurface later in the fiscal year as base effects fade and food and transport costs remain volatile.