Oldest Guantanamo Bay prisoner released to Pakistan — foreign ministry

This undated photo made by the International Committee of the Red Cross and provided by lawyer David H. Remes, shows Guantanamo prisoner Saifullah Paracha. (AP)
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Updated 29 October 2022
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Oldest Guantanamo Bay prisoner released to Pakistan — foreign ministry

  • Secretive US military prison once housed hundreds of suspected militants captured during 'war on terror'
  • Businessman, Saif Ullah Paracha, was detained in 2003 in Thailand and accused of financing Al-Qaeda

ISLAMABAD: A Pakistani known for being the oldest detainee at the US-run Guantanamo Bay detention facility in Cuba was released to his home country on Saturday, the South Asian country’s foreign ministry said. 
The secretive US military prison once housed hundreds of suspected militants captured by US forces during America’s so-called “war on terror” following the 9/11 attacks by Al-Qaeda in 2001. 
Businessman Saif Ullah Paracha was detained in 2003 in Thailand and accused of financing the jihadist group, but he has maintained his innocence and claimed a love for the United States. 
Like most detainees at Guantanamo, Paracha — aged 75 or 76 — was never formally charged and had little legal power to challenge his detention. 
“The Foreign Ministry completed an extensive inter-agency process to facilitate repatriation of Mr. Paracha,” Pakistan’s foreign office said in a statement on Saturday. 
“We are glad that a Pakistani citizen detained abroad is finally reunited with his family.” 

Paracha’s arrival comes after US President Joe Biden last year approved his release, along with that of another Pakistani national Abdul Rabbani, 55, and Yemen native Uthman Abdul Al-Rahim Uthman, 41. 
The statement from the Pakistani foreign ministry did not mention Rabbani. 
Biden is under pressure to clear out uncharged prisoners at Guantanamo and move ahead with the trials of those accused of having direct ties to Al-Qaeda. 
Among the roughly 40 detainees left are several men who allegedly had direct roles in 9/11 and other Al-Qaeda attacks. 
Paracha, who studied in the United States, had an import-export business supplying major US retailers. 
US authorities accused him of having contact with Al-Qaeda figures, including Osama bin Laden and Khalid Sheikh Mohammad. 
In 2008, Paracha’s lawyer said the businessman had met bin Laden in 1999, and again a year later, in connection with the production of a television program. 
Reprieve, a UK-based human rights charity, described Paracha as a “forever prisoner.” 


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

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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.