Pakistan says no official information from Britain after seizure of uranium-tainted cargo in London

In this file photo taken on June 13, 2021, British Airways jets are seen at Heathrow Airport in west London. (Photo courtesy: AFP/File)
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Updated 11 January 2023
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Pakistan says no official information from Britain after seizure of uranium-tainted cargo in London

  • Some media reports maintain the package originated in Pakistan before arriving at Heathrow on a flight from Oman
  • The foreign office says it has seen the reports in the international press but remain confident they are not factual

ISLAMABAD: The foreign office said on Wednesday the United Kingdom had not officially shared any information with it after media reports emerged the British police had seized a package containing uranium which originated in Pakistan before launching an investigation.

The information first appeared in a UK-based tabloid, The Sun, which said the package had been taken into possession at London’s Heathrow Airport where it was found by officials during a routine search. The publication also maintained it started its journey from Pakistan and reached London on a flight from Oman on December 29.

“We have seen the media reports,” foreign office spokesperson Mumtaz Zahra Baloch told Arab News. “No information to this effect has been shared with us officially. We are confident that the reports are not factual.”

According to the BBC, the uranium was found in a shipment of scrap metal and investigators were trying to determine if it was a case of “poor handling” in Pakistan.

A top police official, Richard Smith, issued a media statement, reassuring “the public that the amount of contaminated material was extremely small” which had been “assessed by experts as posing no threat to the public.”

“Although our investigation remains ongoing, from our inquiries so far, it does not appear to be linked to any direct threat,” he added.

With additional input from AFP


Pakistan stock market sheds over 2,000 points amid regional tensions

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Pakistan stock market sheds over 2,000 points amid regional tensions

  • KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14
  • The development comes amid public unrest in Iran, possibility of a US strike

ISLAMABAD: The Pakistan Stock Exchange (PSX) fell sharply and lost more than 2,000 points during the intraday trade on Monday, with analysts blaming the slump on geopolitical uncertainty linked to heightened tensions in the region.

The benchmark KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14 points, down from 184,409.67 points at the weekend close, according to PSX data.

The development came amid public unrest in Iran over worsening economic conditions, with the death toll reaching nearly 550 and the government arresting more than 10,600 people in a crackdown.

US President Donald Trump said late Sunday his administration was in talks to set up a meeting with Tehran but cautioned he may have to act first as reports mount of increasing deaths and the government continues arrests.

“[Pakistan] stocks slumped on geopolitical uncertainty,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News. “Weak global equities, political noise, and security unrest played a catalyst role in selling activity at PSX.”

Meanwhile, Pakistani market research firm Topline Securities said activity slowed noticeably as buying interest from local funds eased after last week’s strong rally.

“With the market having advanced nearly 3 percent on a WoW (week on week) basis, investors chose to lock in gains, resulting in broad-based profit-taking during the session,” it said on X.

“The pullback appears to be a healthy consolidation after the recent sharp up-move, rather than a shift in the market’s underlying sentiment.”

It said that a total of 1,055 million shares were traded at the market on Monday, with Fauji Foods Limited (FFL) topping the volume chart with 65.6 million shares.

Pakistan’s stock market has gained momentum in recent months as broad institutional buying boosted investor confidence amid ongoing economic reforms under international lending programs.

Around 135,000 new investors have joined the PSX over the last 18 months. Last week, Pakistani stocks climbed to a fresh all-time high with the benchmark KSE-100 Index crossing the 186,000-point mark for the first time ever.