Pakistani PM congratulates Bangladesh’s Hasina on election victory, calls for bilateral cooperation

Bangladesh's Prime Minister Sheikh Hasina accepts greetings from the assembled media and election observers during a press conference, a day after she won the 12th parliamentary elections, in Dhaka on January 8, 2024. (AFP)
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Updated 09 January 2024
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Pakistani PM congratulates Bangladesh’s Hasina on election victory, calls for bilateral cooperation

  • Sheikh Hasina won Bangladesh polls this week marred by an opposition boycott, low voter turnout
  • Ties between Pakistan, Bangladesh remain strained since former secured independence from latter

ISLAMABAD: Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar congratulated Bangladesh leader Sheikh Hasina this week on winning a fourth term in office, saying he was looking forward to “enhanced cooperation” between the two countries under her leadership. 

Hasina will serve another five years in office after her party, the Awami League, and its allies won 223 out of 300 parliamentary seats contested this week. The national vote was marred by a boycott from the Bangladesh Nationalist Party, pre-election violence and a low voter turnout. 

Relations between Pakistan and Bangladesh remain strained ever since the bloody 1971 war, when Bengali nationalists backed by India broke away from what was then West Pakistan to form a new country. It was Hasina’s father, Sheikh Mujibur Rahman, who led the independence movement for Bangladesh. 

“I congratulate Sheikh Hasina on her re-election as the Prime Minister of Bangladesh,” Kakar wrote on social media platform X, formerly Twitter. “I wish Sheikh Hasina a successful term in office and look forward to enhanced cooperation between Pakistan and Bangladesh under her leadership.”

Pakistan is currently being run by a caretaker government under Kakar that is meant to oversee a general election scheduled for February 8. 

Caretakers are usually limited to overseeing elections, but Kakar’s set-up is the most empowered in Pakistan’s history thanks to last year’s legislation that allows it to make policy decisions on economic matters. 

Political analysts fear a prolonged period without an elected government in Pakistan would allow the military, which has ruled the country for over three decades since independence in 1947 and wields considerable control even if not in power, to consolidate control.

Kakar and his government have repeatedly assured masses that polls would be held as per schedule on February 8 and that a “level playing field“— a euphemism for fair chance for all political parties, would be provided to every contestant. 
 


Pakistan stocks hit record as fertilizer sales jump, rate cut hopes build

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Pakistan stocks hit record as fertilizer sales jump, rate cut hopes build

  • KSE-100 jumps 1.5 percent to close above 179,000 points for the first time
  • Stocks start 2026 on a strong note amid broad-based institutional buying

ISLAMABAD: Pakistani stocks extended their rally on Friday, with the benchmark index closing above the 179,000-point mark for the first time, driven by strong fertilizer sales data and expectations of further monetary easing by the central bank.

The KSE-100 index rose 2,679.44 points, or 1.52 percent, to close at 179,034.93, compared with its previous close of 176,355.49, according to data from the Pakistan Stock Exchange (PSX).

Ahsan Mehanti, chief executive officer at Arif Habib Commodities, said buying interest picked up ahead of key corporate earnings due next week, supported by easing inflationary pressures and improving sector-specific data.

“Rupee gains, strong fertilizer sales growth of 34 percent year-on-year in December 2025 and expectations of further policy easing by the State Bank of Pakistan, after headline inflation slowed to 5.6 percent year-on-year, acted as key triggers for bullish activity at the Pakistan Stock Exchange,” he told Arab News.

Fertilizer sales in Pakistan have shown mixed trends in recent months, with overall offtake affected by weak farm economics and seasonal factors. While urea sales declined in some periods, December data showed a sharp rebound, helping lift investor sentiment in the sector.

This has supported fertilizer stocks on the PSX, including Fauji Fertilizer Company, Engro Fertilizers and Fatima Fertilizer, which continue to draw interest due to their market dominance and dividend payouts.

Samiullah Tariq, head of research and development at Pakistan Kuwait Investment Company Limited, said investors were positioning for another rate cut amid improving macroeconomic indicators.

“Expectations of another rate cut, strong macroeconomic fundamentals and better corporate results are driving the market,” he said.

Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last month, surprising markets after maintaining rates unchanged in its previous four policy meetings. Consumer price inflation eased to 5.6 percent year-on-year in December, while prices declined on a monthly basis.

Friday’s close capped a strong start to 2026 for the PSX, with broad-based institutional buying lifting major sectors and reinforcing investor confidence at the beginning of the year.