Blast in northwestern Pakistan’s Peshawar city kills two, injures one

Security personnel gather at the site of the bomb blast in Hayatabad area of Peshawar on July 18, 2023. (AFP/File)
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Updated 10 March 2024
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Blast in northwestern Pakistan’s Peshawar city kills two, injures one

  • Police, rescue official say blast was caused by explosive material fitted into a motorcycle
  • Pakistan has seen an uptick in violence in its KP, Balochistan provinces since November 2022

ISLAMABAD: Two people were killed while one was injured on Sunday morning when a blast ripped through a busy road in northwestern Pakistan’s Peshawar city, police and a rescue officials confirmed. 

Khyber Pakhtunkhwa (KP) Rescue 1122 spokesperson Bilal Faizi wrote on social media platform X that the blast occurred at provincial capital Peshawar’s Nasir Bagh Road, after which ambulances were dispatched to the area. 

“Two people have been killed while one has been injured,” Faizi wrote on X. “Rescue 1122 has shifted all persons to the hospital.”

Senior Superintendent of Police (SSP) Operations Kashif Aftab Abbasi confirmed the death toll, saying that as per initial investigations, the blast occurred due to explosives fitted into a motorcycle. 

“Our Bomb Disposal Squad and investigative officers are inspecting the site of the blast,” Abbasi told reporters. “As soon as they reach a final conclusion, we will let you know.” 

Pakistan has witnessed an uptick in militant violence in its western KP and Balochistan provinces that share their border with the neighboring state of Afghanistan.

While no group has yet claimed responsibility for Sunday’s blast, banned outfit Tehreek-e-Taliban Pakistan (TTP) have carried out some of the deadliest attacks against the country’s security forces and civilians since 2007. 

The surge in militant activities, including deadly suicide bombings, followed after the TTP, a conglomerate of armed factions, called off a fragile ceasefire with the government in November 2022.

Pakistani security forces have carried out several security operations in recent months to deal with militants hiding in the remote areas of the two provinces.

On Saturday, Pakistan Army’s media wing said security forces killed 10 militants and injured three others in two separate operations in the country’s North Waziristan tribal district. 


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.