Massive rally in Karachi expresses support for Gaza on International Palestinian Solidarity Day

Pakistani civil society and political parties chant slogans during a demonstration against Israeli airstrikes on Gaza, and to show solidarity with Palestinian people, in Karachi on November 29, 2023. (AP)
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Updated 29 November 2023
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Massive rally in Karachi expresses support for Gaza on International Palestinian Solidarity Day

  • The participants of the civil society rally demanded immediate and complete cease-fire in Gaza
  • The rally garnered support from businesspeople, journalists, artists, traders and political leaders

KARACHI: Pakistan’s southern Karachi port city witnessed a huge rally on Wednesday, bringing together people from diverse backgrounds in support of the residents of Gaza on International Day of Solidarity with the Palestinian People.
The United Nations General Assembly designated November 29 for this observance by adopting a resolution in 1977. This year’s Palestinian solidarity day comes at a time when more than 15,000 people have been killed in Israeli airstrikes and ground offensive in Gaza since October 7.
As millions around the world protested against Israel’s ongoing war in major cities, civil society groups and organizations in Karachi also initiated the call for Wednesday’s rally, which garnered support from businesspeople, journalists, artists, traders, and political leaders.
“We are here to express solidarity with Palestinians and condemn Israel for killing innocent people in Gaza,” Fahim Zaman, former administrator of Karachi and one of the rally’s organizers, told Arab News.
He demanded a total cease-fire, compensation for the dead and wounded Palestinians, reconstruction of Gaza and a trial for Israel’s Prime Minister Benjamin Netanyahu at the International Criminal Court.
Most rally participants carried placards with slogans like “Free Palestine,” “Cease-fire Now,” “Save Gaza,” and “End Palestinian Genocide.”




People hold a big Palestinian flag during a demonstration against Israeli airstrikes on Gaza, on International Palestinian Solidarity Day, in Karachi on November 29, 2023. (AP)

Veteran journalist and writer Ghazi Salahuddin said there was increased global awareness regarding the Palestine issue.
“Everyone knows about Gaza,” he said. “Everyone knows about the issues at stake.”
“I think this conflict has brought like-minded people worldwide together in a larger kind of movement,” he continued.
Eman Al Hajj, a Palestinian woman at the march, voiced the shared responsibility to support Palestine.
“It’s our duty toward our brothers and sisters in Palestine and Gaza to be part of this march and to raise our voices to stop the genocide and the war,” she said.
Laila, another participant who did not share her full name, stressed the importance of continuous protest.
“We should protest until Palestine is free,” she said. “We must fight for the freedom of all oppressed people around the world.”
Notable politicians, including Karachi’s mayor Murtaza Wahab, former Sindh governor Muhammad Zubair, Jamaat-e-Islami leader Hafiz Naeem-ur-Rehman, Awami National Party’s Shahi Syed and Muttahida Qaumi Movement’s Kishwar Zehra, also participated in the rally.




Pakistani civil society and political parties chant slogans during a demonstration against Israeli airstrikes on Gaza, on International Palestinian Solidarity Day, in Karachi on November 29, 2023. (AP)

 


Pakistan says Panda bond launch to diversify funding, avoid overreliance on dollar

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Pakistan says Panda bond launch to diversify funding, avoid overreliance on dollar

  • Pakistan has said it plans to issue its first-ever yuan-denominated Panda bond in January 2026
  • Pakistan minister identifies agriculture, minerals, AI as key areas to attract Chinese investment

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb said on Tuesday that launching its first-ever Panda bond would allow Islamabad to diversify its external financing sources away from overreliance on the US dollar, the Finance Division said. 

Pakistan has said it aims to launch the Panda bond— a yuan-denominated bond issued in China’s domestic market— by January next year. This highlights Pakistan’s efforts to find alternatives to dollar-denominated borrowing as global financial conditions tighten and Islamabad looks to escape a prolonged macroeconomic crisis. 

Panda bonds are renminbi-denominated instruments sold to Chinese investors by foreign governments or companies, offering issuers access to China’s deep domestic capital markets while reducing exposure to foreign-exchange volatility.

“He said the [Panda bond] issuance would allow Pakistan to tap into the second-largest and second-deepest capital market in the world, helping diversify funding sources away from overreliance on the US dollar by complementing existing access to euro and sukuk markets,” the Finance Division said. 

Aurangzeb was speaking to the state-owned China Global Television Network (CGTN), the Finance Division said. 

The finance minister acknowledged Pakistan had “previously underutilized” the opportunity to take advantage of the Panda bond, expressing optimism about investor interest in the Chinese market.

He said Pakistan remains hopeful of launching the bond ahead of the Chinese New Year, calling it a “landmark development” in the country’s external financing strategy. 

In response to a question about Pakistan’s economic priorities, Aurangzeb identified agriculture, minerals and mining, artificial intelligence and digital economy as key areas where Islamabad could attract Chinese investment. 

“He emphasized that beyond capital flows, this phase of cooperation places strong emphasis on knowledge transfer and technical support,” the Finance Division said.