Pakistan’s foreign minister reaffirms support for an independent Palestinian state

Pakistan Foreign Minister Jalil Abbas Jilani speaks during the Summit of the Future at United Nations headquarters on September 21, 2023. (Photo courtesy: AP/File)
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Updated 25 September 2023
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Pakistan’s foreign minister reaffirms support for an independent Palestinian state

  • Caretaker Foreign Minister Jalil Abbas Jilani says independent Palestinian state is Pakistan’s ‘national interest’
  • Israeli Foreign Minister Eli Cohen said last week ‘six or seven’ Islamic nations were likely to ‘make peace’ with Israel

ISLAMABAD: Pakistan’s Caretaker Foreign Minister Jalil Abbas Jilani on Monday reaffirmed support for an independent Palestinian state, saying that it was in the South Asian country’s “national interest.”

Jilani’s comment came a day after Geo News reported he had said any decision to establish bilateral relations with Israel would hinge on the nation’s own interests and the well-being of the Palestinian people. His statement also follows Israeli Foreign Affairs Minister Eli Cohen’s remarks from last week in which Cohen indicated he had met leaders of several Islamic nations in recent days who were likely to forge diplomatic ties with Israel soon.

Pakistan does not recognize the state of Israel and has repeatedly called for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital. 

“In my statement at UNGA, I renewed Pakistan’s call for an independent State of Palestine, based on pre-67 borders, with Al-Quds Al-Sharif as capital,” Jilani wrote on social media platform X. The foreign minister was responding to a comment by a journalist who sought clarification on whether Pakistan was considering recognizing the state of Israel. 

“This is in our national interest.”

On Sunday, Pakistan’s Caretaker Information Minister Murtaza Solangi said Islamabad has taken a “traditional and principled stand” on not recognizing Israel, adding that the state and its institutions stand by it. 

“Pakistan’s position on Israel is related to the future of the people of Palestine,” Solangi told GTV News. “As long as Palestinians do not get their free country and their right to self-determination, which is recognized in the United Nations resolutions, Pakistan will not abandon its Palestinian brothers.”

Prime Minister Anwaar-ul-Haq Kakar also advocated for a two-state solution as a path to enduring peace in Palestine during his United Nations General Assembly speech on Friday.

He reiterated Pakistan’s position on the matter, calling for the “establishment of a viable and contiguous Palestinian state within the pre-June 1967 borders with Al-Quds as its capital.”

Kakar also criticized Israeli military raids against Palestinians and its expansion of settlements in the Occupied Territories.


Pakistan stocks edge higher as export financing, industrial power tariffs are cut

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Pakistan stocks edge higher as export financing, industrial power tariffs are cut

  • KSE-100 index gained 1,607.26 points, or 0.88%, to close at 183,945.38
  • Rebound follows steep sell-off a day earlier amid regional geopolitical tensions

ISLAMABAD: Pakistan’s stock market rebounded on Friday, with the benchmark index gaining more than 1,600 points, as analysts pointed to cuts in export refinancing rates and lower electricity tariffs for industrial consumers as key drivers of the recovery.

The KSE-100 index rose 1,607.26 points, or 0.88%, to close at 183,945.38, up from 182,338.12 a day earlier, according to Pakistan Stock Exchange (PSX) data.

The uptick followed Prime Minister Shehbaz Sharif’s announcement of a Rs4.4 per unit cut in electricity tariffs for industrial consumers, alongside a reduction in the export refinance rate from 7.5% to 4.5%.

“Stocks staged an early recovery at the PSX on institutional buying in oversold scrips after the prime minister’s assurance to renegotiate the IMF deal, along with cuts in the export refinance rate to 4.5% and industrial power tariffs by Rs4.4 per unit,” Arif Habib Commodities Chief Executive Officer Ahsan Mehanti told Arab News.

He added that higher global crude oil prices and earnings-season speculation also acted as catalysts for bullish activity.

According to local media reports last week, Pakistan is seeking flexibility in IMF lending conditions for the 2026–27 budget and aims to renegotiate its agreement to complete the remaining $7 billion under the Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF) by September 2027.

The rebound came a day after Pakistani stocks plunged 6,042.26 points on Thursday, a drop analysts attributed to heavy selling and heightened geopolitical tensions between Iran and the United States.

Those concerns intensified after US President Donald Trump warned Iran this week that “time is running out” to reach a deal on its nuclear program, amid a steady buildup of US military forces in the Gulf.