ISLAMABAD: The United States (US) condemned recent Iranian airstrikes in Pakistan, Iraq and Syria, the State Department said on Wednesday, hoping that Islamabad and Tehran would resolve the issue peacefully.
The statement came a day after Pakistan said Iran had violated its airspace and attacked a border village, killing two children and injured three women. The raid occurred late Tuesday after similar attacks in Iraq and Syria.
Iranian news agency Mehr News said the “missile and drone” attack targeted the Pakistan headquarters of Jaish Al-Adl, a group formed in 2012 and blacklisted by Iran as a “terrorist group.”
Speaking at a press briefing, US State Department spokesperson Matthew Miller condemned the Iranian strikes and said Washington wanted to see peace and stability maintained in the region.
“We do condemn those strikes. We’ve seen Iran violate the sovereign borders of three of its neighbors in just the past couple days,” Miller told reporters in Washington.
“Certainly, we always want to see peace and stability maintained, especially in this region, where it’s been the focus of our diplomatic efforts since October 7th.”
Following the Iranian strike, Pakistan recalled its ambassador from Iran and blocked Tehran’s envoy from returning to Islamabad.
Mumtaz Zahra Baloch, a spokesperson for the Pakistani foreign ministry, called the attack near the country’s border “unprovoked” and a breach of Pakistan’s sovereignty.
Asked about possible retaliation by Pakistan, the US State Department spokesman said he hoped for a peaceful resolution of the issue.
In recent years, Jaish Al-Adl has carried out several attacks on Iranian soil.
Iran said the other missile attacks targeted “spy headquarters” and “terrorist” targets in Syria and Iraq’s autonomous Kurdistan region.
The strikes come as the Middle East has been rocked by Israel’s war on Gaza since Oct 7 and attacks by Yemen’s Houthi rebels on ships in the Red Sea.
“I think it is a little rich for at one – on one hand, Iran to be the leading funder of terrorism in the region, the leading funder of instability in the region; and on the other hand, claim that it needs to take this action – these actions to counter terrorism,” Miller added.
US condemns Iranian strikes on Pakistan, Iraq and Syria — State Department
https://arab.news/v6u33
US condemns Iranian strikes on Pakistan, Iraq and Syria — State Department
- Iran this week targeted alleged militant bases in Pakistan that Islamabad says killed two children, injured three women
- Tensions have since soared and Pakistan has recalled its ambassador from Iran, blocked Tehran’s envoy from returning
Pakistani companies likely to raise over $89 million in new stock listings this year
- Farrukh H. Sabzwari says approvals for two listings already granted while 10 more Initial Public Offerings are expected over next 12 months
- Economists expect KSE-100 index to reach 208,000 points by Dec., reflecting pent-up demand, strategic expansions and broader investor appetite
KARACHI: The Pakistan Stock Exchange (PSX) expects at least a dozen new listings this year, the PSX chief executive officer said on Monday, with the new entrants likely to raise as much as Rs25 billion ($89.3 million) in funding through the equity market.
Pakistan’s benchmark KSE-100 index has rallied to new highs and recorded returns of around 50 percent in Calendar Year (CY) 2025. The market closed at 182,384 points on Monday.
Around 135,000 new investors have also joined the PSX over the last 18 months, according to Pakistani state media.
“Continuing with the momentum, in CY2026, approvals for two Main Board listings have been granted,” PSX CEO Farrukh H. Sabzwari, who has previously served as a local partner of BoA Merrill Lynch and country head of CLSA Emerging Markets in Pakistan, told Arab News.
“PSX is expecting 10 more IPOs (Initial Public Offerings) over next 12 months across various sectors.”
Pakistan’s growing stocks mirror the country’s stabilizing economy which Prime Minister Shehbaz Sharif’s government expects would expand 3.9 percent this fiscal year through June with the help of the International Monetary Fund’s reforms-oriented $7 billion loan program.
The new IPOs would cover food, pharmaceutical, real estate investment trust (REIT), engineering, technology, oil and gas marketing, insurance, auto parts, manufacturing and energy sectors of the economy, according to Sabzwari.
Last year, the PSX listed Zarea Limited, Barkat Frisian Agro Limited, Image REIT, Pak Qatar Family Takaful, Blue-Ex Limited, Nets International Communication Limited and the Pakistan Credit Rating Agency Limited. These listings helped companies raise Rs4.3 billion ($15.4 million) of funding.
In addition, the PSX debt market witnessed seven issuances, valuing Rs10.5 billion ($37.5 million). Pakistan’s finance ministry raises funds through PSX by selling borrowing instruments like Islamic sukuk.
The PSX recorded the highest eight IPOs in a single year in 2021, according to Shankar Talreja, head of research at Topline Securities Ltd. It would be a record if the market lists 12 new entrants this year.
Sana Tawfiq, an economist at Karachi-based brokerage research firm AHL, described the market performance last year as “exceptional.”
“With projected fundraising of up to Rs25 billion ($89.3 million), the upcoming pipeline reflects pent-up demand, strategic expansions, and a broader investor appetite,” she said.
Tawfiq expects the KSE-100 index to reach 208,000 points by Dec. this year.
“As we look toward 2026, Pakistan’s equity market is entering a phase defined by stability, depth, and sustainable growth,” the economist said.
“The market is now transitioning toward a more measured trajectory.”
Key drivers in 2026 would likely include sustained domestic liquidity in equities, strengthening foreign reserves and a contained current account deficit, successful completion of the Pakistan International Airlines (PIA) privatization alongside accelerating progress on privatization and restructuring of power distribution companies (DISCOs), continued efforts to resolve circular debt in both power and gas sectors, and supportive global commodity prices, according to Tawfiq.
In a recent note to its clients, Topline Securities said the current IPO momentum was driven by macroeconomic stability under the IMF program, improving investor confidence and a declining interest rate environment.
Pakistan’s central bank last month cut its interest rate by 50 basis points to 10.5 percent in a surprising move aimed at boosting economic growth in the inflation-hit country.
“Despite ongoing geopolitical and macroeconomic uncertainties, investor sentiment continues to improve,” it said.
