Pakistan calls for ‘adequate’ Muslim representation amid debate on UNSC reforms

Pakistan’s Permanent Representative to the United Nations Ambassador Munir Akram speaks during a General Assembly at the United Nations in New York on May 1, 2024. (Pakistan Mission to UN/File)
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Updated 21 May 2024
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Pakistan calls for ‘adequate’ Muslim representation amid debate on UNSC reforms

  • UNSC reform has been a contentious issue since intergovernmental negotiations first started in 2009
  • Ambassador Munir Akram says UNSC expansion should not be done hastily or without consensus

ISLAMABAD: Pakistan’s top diplomat at the United Nations on Tuesday reiterated the demand by the Organization of Islamic Cooperation that Muslim countries have ‘adequate representation’ in any future expanded Security Council.

UNSC reforms have been a contentious issue since Intergovernmental Negotiations (IGN) began in 2009, with little progress due to deep divisions among member states. The crux of the debate revolves around whether to add new permanent members, whether such members should possess veto power, and how to ensure fair regional representation.

The Group of Four comprising Brazil, Germany, India and Japan, seek permanent seats but are facing opposition from the Uniting for Consensus group, which includes Pakistan and argues against new permanent seats while calling for a new category of renewable memberships.

“Today at IGN meeting, I reiterated OIC’s demand that any reform of UN Security Council, which doesn’t ensure adequate representation of Muslim Ummah, will not be acceptable to the Islamic world,” Pakistan’s Permanent Representative to the United Nations Ambassador Munir Akram said in a social media post.

“This position is in line with an agreement on equitable representation of all groups,” he added.

According to the state-owned APP news agency, Akram said the issue of UNSC expansion had also come up for discussion at the recent Islamic Summit in Gambia which issued a communique, saying efforts to expand the 15-member body should not be subjected to artificial deadlines and should be made with consensus.

The UNSC currently has five permanent members — Britain, China, France, Russia and the United States — and 10 non-permanent members elected to serve for two years. 

The OIC is the second largest intergovernmental organization after the UN.
 


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

Updated 19 January 2026
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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.”