Pakistan says ‘disappointed’ as Israeli warplanes resume pounding of Gaza

Smoke rises above buildings during an Israeli strike on Rafah in the southern Gaza Strip on December 1, 2023. (AFP)
Short Url
Updated 01 December 2023
Follow

Pakistan says ‘disappointed’ as Israeli warplanes resume pounding of Gaza

  • War restarts in Gaza Strip after a week-long truce collapsed with no deal to extend it
  • 32 killed in airstrikes barely two hours after truce expired, Gaza health ministry says

ISLAMABAD: The Pakistani foreign office said on Friday it was “disappointed” that Israel had started bombing Gaza again as war resumed after a week-long truce collapsed with no deal to extend it.

The Israeli military announced it had "resumed combat operations", accusing Hamas which controls the Gaza strip, of violating the truce first by firing rockets. 

Hamas said Israel bore responsibility for the end of the truce, accusing it of rejecting all offers to release more of the hostages the group is holding in the Gaza enclave.

Barely two hours after the truce expired, Gaza's health ministry reported that 32 people had already been killed in air strikes.

“We are disappointed that after a brief pause, Israel has restarted bombing the Palestinian people,” the foreign office said, calling for a “durable and sustainable ceasefire.”

“The temporary pause offered a crucial respite to the suffering people of Gaza and allowed exchange of prisoners.”

“We are deeply concerned at the escalating Israeli aggression against the West Bank and the escalation of hostile acts against the Palestinian population,” the FO added. “We strongly condemn the Israeli raid in the Jenin refugee camp and acts of violence and repression against the returning prisoners and their families.”

Pakistan called on the international community to enable the “supply of extensive and robust humanitarian assistance; urgent medical aid to the injured; and shelter to those who have been displaced as a result of indiscriminate and inhumane bombing campaign by Israeli occupation forces.”

“Pakistan supports the call for a comprehensive investigation into attacks against medical facilities, schools, mosques, churches, residential buildings and water facilities and urges full accountability for the war crimes being perpetrated in occupied Palestine.”


Pakistan stocks hit record high on hopes of rate cut, improved US ties

Updated 19 January 2026
Follow

Pakistan stocks hit record high on hopes of rate cut, improved US ties

  • Benchmark index gains 2,662 points, or 1.44 percent, to close at an all-time high of 187,761 points
  • Engro, UBL, Hub Power, Fauji Fertilizer, Meezan Bank and Service Industries added 1,554 points to index

ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a record high as it surpassed the 187,500-point mark on Monday, with analysts citing improving ties with the United States and expectations of an imminent interest rate cut.

The benchmark KSE-100 index gained 2,662.86 points, or 1.44 percent, to close at an all-time high of 187,761.69 points, up from the previous close of 185,098.83 points, according to PSX data.

The stock gains came a day after President Donald Trump invited Prime Minister Shehbaz Sharif to join the so-called “Board of Peace” for Gaza, amid increasing Pakistan-US diplomatic and economic engagement since Trump’s rise to presidency.

“Falling government bond yields and improving Pakistan-US relations played a catalyst role in record close at PSX,” Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.

Meanwhile, Karachi-based market research firm Topline Securities said bulls extended their rally as hopes of a rate cut by the State Bank of Pakistan (SBP) fueled investor sentiment.

“Investor sentiment remained upbeat, largely fueled by rising expectations of an imminent interest rate cut,” it said in a post on X. “Market participants increasingly priced in a 50bps reduction in the upcoming monetary policy, which kept buying interest alive and underpinned broad-based gains.”

In December, the SBP cut its key policy rate by 50 basis points to 10.5 percent, resuming monetary easing after four meetings in a move that surprised many despite International Monetary Fund guidance to keep policy “appropriately tight” to anchor inflation expectations.

Engro Holdings Limited (ENGROH), United Bank Limited (UBL), Hub Power Company Limited (HUBC), Fauji Fertilizer Company Limited (FFC), Meezan Bank Limited (MEBL) and Service Industries Limited (SRVI) collectively added 1,554 points to the benchmark index on Monday, according to Topline Securities.

“Total market volumes stood at 1,195 million shares, while the value of shares traded amounted to Rs63.7 billion,” the research firm said. “[Bank Makramah Limited] BML led the volume chart, emerging as the most actively traded stock with 246 million shares.”