Pakistan PM expresses grief over Nepal plane crash

A rescue team works to recover the body of a victim from the site of the plane crash of a Yeti Airlines operated aircraft, in Pokhara, Nepal on January 16, 2023. (REUTERS)
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Updated 16 January 2023
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Pakistan PM expresses grief over Nepal plane crash

  • Rescue workers say they are praying for a miracle, though there is almost no hope of finding survivors
  • Sunday’s crash in Nepal was the deadliest after 167 people died in a PIA flight in 1992 near Kathmandu

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday expressed grief over a plane crash in Nepal after the Himalayan state witnessed one of the worst aviation accidents in history that claimed the lives of dozens of people.

The crash took place when a small commercial plane of Yeti Airlines plunged into a gorge while approaching the central city of Pokhara before hitting the ground and catching fire.

Rescue workers in Nepal said they were not hopeful to find any survivors at this stage after finding more bodies from the wreckage.

“I send my heartfelt condolences and most sincere sympathies to H.E. Pushpa Kamal Dahal Pranchanda @cmprachanda on the tragic crash of a passenger aircraft,” the Pakistani premier said on Twitter. “Our thoughts and prayers are with the bereaved families & the people of Nepal.”

Pakistan’s foreign office also said in a statement the country was saddened at the tragic accident and was praying for the families of the victims.

“We stand with the people of Nepal in their hour of grief,” it added.

Meanwhile, rescue workers in Nepal said they had collected 68 bodies and were going to continue with their work.

“We pray for a miracle. But, the hope of finding anyone alive is nil,” AFP quoted a local official, Tek Bahadur KC, as saying.

According to the airline’s spokesperson, there were 15 foreigners on board, including five Indians, four Russians, two South Koreans, and one passenger each from Argentina, Australia, France and Ireland.

Sunday’s crash is Nepal’s deadliest since 1992 when all 167 people aboard a Pakistan International Airlines plane were killed when it plowed into a hill as it tried to land in Katmandu.


Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

Updated 01 January 2026
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Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

  • Pakistani financial analyst attributes surge to falling inflation, investors expecting further policy rate cuts
  • Pakistan’s finance ministry said Thursday that inflation had slowed to 5.6 percent year-on-year in December 

KARACHI: Pakistani stocks continued their bullish run on Thursday, breaching the 176,000 points barrier for the first time after trading ended, with analysts attributing the surge to investors expecting further cuts in the policy rate. 

The KSE-100 benchmark gained 2,301.17 points at close of business on Thursday, marking an increase of 1.32 percent to settle at 176,355.49 points. 

Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last ‌month, breaking a four-meeting ‌hold in a move ‌that ⁠surprised ​markets. Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis as per data from the finance ministry. 

“Upbeat data for consumer price index (CPI) inflation at 5.6pc in December 2025 [with] investors expecting a further State Bank of Pakistan rate cuts on falling inflation data,” Ahsan Mehanti, CEO of Arif Habib Commodities Ltd., told Arab News. 

The stock market witnessed a trading volume of 1,402.650 million shares, with a traded value of Rs48.424 billion ($173 million), compared with 957.239 million shares valued at Rs44.231 billion ($158 million) during the previous session.

Topline Securities, a leading brokerage firm in Pakistan, credited the surge to strong buying at the first session.

“This positivity can be accredited to buying by local institutions on the start of the new calendar year,” it said. 

Pakistan’s Finance Adviser Khurram Schehzad highlighted that the bullish trend at the stock market reflected “strong investor confidence.”

“With lower inflation, affordable fuel, stronger reserves, rising digitization and a buoyant capital market, Pakistan’s economic outlook is clearly improving--supporting greater confidence, better investment sentiment and more positive momentum for 2026,” he said on social media platform X.