ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday congratulated his coalition partner Asif Ali Zardari for being elected as the country’s president for the second time after he secured 411 votes in the indirect electoral contest held in Pakistan’s parliament and provincial assemblies while his rival Mahmood Khan Achakzai could only bag 181 votes.
Zardari was nominated for the post by the ruling coalition led by Prime Minister Shehbaz Sharif. He was contesting against Mahmood Khan Achakzai, backed by the supporters of Pakistan’s incarcerated former prime minister Imran Khan.
Lawmakers started arriving in the national and provincial legislatures in the morning, as polling began at 10am and continued until 4pm.
Announcing the total number of votes bagged by the two candidates, the Election Commission of Pakistan (ECP) said the official result “shall be prepared and forwarded to the federal government tomorrow after receipt of original record from the Presiding Officers, for issuance of formal notification by the federal government.”
Soon after the development, PM Sharif issued a statement, saying Zardari’s victory had proved that all the four federating units in the country had expressed confidence in his leadership.
“President Asif Ali Zardari will be a symbol of the federation’s strength,” he said, adding that Zardari’s election reflected the continuity of democratic values in the country.
Sharif said he was optimistic that Zardari would do everything to fulfill his constitutional responsibilities as president.
He noted the allied parties would work together for the development and prosperity of the country.
Zardari’s opposing candidate, Achakzai, also congratulated him on winning the presidential election, though he said the country’s political elite was going to face major challenges in the coming days.
“Our real test is about to begin now,” he said while addressing journalists in front of the parliament building.
Achakzai mentioned the volatility of the global and regional situation, saying: “This all needs a consensus.”
During his last tenure as president from 2008 to 2013, Zardari ushered in constitutional reforms, including the 18th amendment, to ensure larger autonomy to provinces, and rolled back presidential powers.
On Friday, his predecessor Arif Alvi was accorded a farewell guard of honor. Alvi’s five-year term ended in September last year, but in Pakistan, a president may continue to stay in office constitutionally until his successor is elected.
The tenure of Alvi, who took oath on Sept. 9, 2018 after ex-PM Khan’s Pakistan Tehreek-e-Insaf (PTI) party came to power in election held the same year, was marked by political instability and civil-military tensions, and saw the ouster of Khan in a parliamentary no-trust vote in April 2022.
Besides political instability, an economic crisis gripped Pakistan during this period, with the South Asian country barely averting a default in June last year by securing a $3 billion bailout deal from the International Monetary Fund (IMF).
Political analysts said that Zardari could help bring down political temperatures in the country by developing a larger political consensus among parliamentary parties, including the PTI.
“Asif Ali Zardari has successfully built bridges between among political parties, except for the PTI, ahead of his election for the presidency and in next phase he may also take along the PTI to end polarization in the country,” Zaigham Khan, a senior analyst, told Arab News.
He said the PTI had fallen out of favor since its founding leader and ex-premier Khan was embroiled in a “direct confrontation” with the country’s powerful military establishment after the May 9 violence, though Zardari had the ability to facilitate a rapprochement.
Tahir Malik, a professor at the National University of Modern Languages in Islamabad, said Zardari was known for his legacy of political reconciliation and could take the opposition parties along, adding his role in the restoration of political stability in the country was going to be “crucial” in the coming days.
“The president can help create a conducive environment for political dialogue,” he told Arab News. “Otherwise, the office of the president is ceremonial with no authority or powers. Asif Ali Zardari, I guess, would love to play this role.”
Pakistan PM congratulates Asif Ali Zardari on re-election as president with thumping majority
https://arab.news/jkxyp
Pakistan PM congratulates Asif Ali Zardari on re-election as president with thumping majority
- Zardari’s opposing candidate, Mahmood Khan Achakzai, felicitates him over victory, says ‘our real test is about to begin now’
- Political analysts said Zardari can help create conducive environment for political dialogue to restore stability in the country
Pakistan stocks hit another all-time high as optimism prevails over worker remittances
- Pakistan recorded an inflow of $3.6 billion in Dec., with officials expecting remittances to exceed $40 billion this fiscal year
- ENGROH, PPL, SAZEW, OGDC and PSO collectively added 661 points as the benchmark KSE-100 index rose by 860 points
ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a another all-time high as it crossed 188,000 points on Tuesday, amid hopes of strong remittance inflows and budget relief linked to the International Monetary Fund (IMF) talks.
Pakistan recorded an inflow of $3.6 billion in December, with Saudi Arabia emerging as the largest contributor. Pakistani officials expect remittances to exceed $40 billion this fiscal year.
On Tuesday, the benchmark KSE-100 index gained 860.09 points, or 0.46 percent, to close at 188,621.78 points, up from the previous close of 187,761.69 points, according to PSX data.
Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News the market witnessed bullish activity amid speculation of the earnings season.
“FM (finance minister) expectations for $41 billion remittances in FY26, and expectations over renegotiation of IMF deal for relief in federal budget played a catalyst role in the record close at PSX,” he said.
Pakistan is currently navigating a long path to economic recovery under a $7 billion Extended Fund Facility (EFF) approved in Sept. 2024, which has seen Islamabad take several reforms, including privatization of loss-making state entities.
Meanwhile, Pakistani market research firm Topline Securities said in its daily review that the upward momentum at PSX was driven by buying from local mutual funds.
“Additionally, SAZEW [Sazgar Engineering Works Limited] notified that it will commence bookings for its CKD [Completely Knocked Down models] — ‘TANK-500 Hi4-T 4x4 2.0L Turbo AT PHEV and HEV’ — starting Monday, January 26, 2026,” Topline Securities Senior Equity Trader Naveed Nadeem said.
CKD means the cars are assembled locally from imported parts.
Engro Holdings Limited (ENGROH), Pakistan Petroleum Limited (PPL), SAZEW, Oil & Gas Development Company Limited (OGDC), and Pakistan State Oil (PSO) collectively added 661 points to the index, according to the research firm.
It said a total of 1,222 million shares were traded at a value of $227.86 million (Rs63.8 billion) on Tuesday, with Hascol Petroleum Limited topping the volume chart by trading 113 million shares.











