Top Pakistan government, army leaders to attend Gen. Musharraf’s funeral in Karachi today

A paramilitary ranger stands guard outside Malir garrison ahead of the funeral of former Pakistani president Pervez Musharraf, in Karachi on February 7, 2023. (AFP)
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Updated 07 February 2023
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Top Pakistan government, army leaders to attend Gen. Musharraf’s funeral in Karachi today

  • The former Pakistani president and army chief’s body was brought to Karachi from Dubai on Monday night
  • In 1999, after a military career spanning 38 years, Musharraf took over power in Pakistan in a bloodless coup

KARACHI: Top government and military leaders will attend the funeral today, Tuesday, of former Pakistani president and army chief, General Pervez Musharraf, whose body was flown into Karachi from Dubai the night before, a close aide of the military ruler said.

In 2022, Musharraf’s family said he had been hospitalized due to complications from a rare organ disease called amyloidosis. He died on Sunday at a Dubai hospital, aged 79.

Aziz-ur-Rehman, the central secretary general of Musharraf’s All-Pakistan Muslim League (APML) party, said President Dr. Arif Alvi, Chairman Joint Chiefs of Staff Committee, General Sahir Shamshad Mirza, the governor of the Sindh province and other top government officials and politicians would attend the funeral.

“The former president will be buried at a military graveyard inside Malir cantonment,” Rehman told Arab News.

Musharraf’s body and his family reached Karachi via special flight from Dubai on Monday night, state-run Radio Pakistan reported.

In 1998, after a military career spanning 37 years, Prime Minister Nawaz Sharif, the brother of Pakistan’s current prime minister, appointed Musharraf as army chief. The following year, he seized power and toppled Sharif’s government, citing the deteriorating political and economic conditions in Pakistan.

In 2002, Musharraf was appointed president, a title he held in addition to army chief, after winning more than 90 percent of the vote in a controversial national referendum. He stepped down as army chief in 2007 and as president in 2008.

Musharraf subsequently lived in London but returned to Pakistan in 2013 to contest elections. However, he instead faced a slew of court cases and was subsequently banned for life from holding public office.

In 2016, he left Pakistan for medical treatment in Dubai, where he died on Feb. 5.


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.