Washington says has ‘shared interest’ with Pakistan in combating regional threats

US State Department Spokesperson Matthew Miller is adressing a press briefing in Washington, US on July 8, 2024. (US Department of State)
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Updated 09 July 2024
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Washington says has ‘shared interest’ with Pakistan in combating regional threats

  • State Department official responds to Pakistan’s threat of conducting cross-border attacks in Afghanistan
  • Says Washington engages Pakistani government regularly to build capacity, strengthen regional security

ISLAMABAD: Washington has a “shared interest” with Islamabad in combating regional security threats, US State Department Spokesperson Matthew Miller said this week in response to a question on whether America would support Pakistan if it conducted cross-border attacks against militant targets in Afghanistan. 

Tensions escalated between Islamabad and Kabul last month after Pakistan’s Defense Minister Khawaja Asif hinted Pakistan could carry out cross-border attacks in Afghanistan against militants. Pakistan has suffered a surge in militant attacks since the Afghan Taliban seized Kabul in August 2021 which it blames on the Pakistani Taliban or the Tehreek-e-Taliban Pakistan (TTP) outfit. Pakistan says the TTP carries out attacks against it from sanctuaries in Afghanistan. 

Afghanistan has rejected Pakistan’s allegations and in response to Asif’s statement, warned Islamabad there would be “consequences” if it decided to conduct cross-border attacks. 

“So the Pakistani people have suffered greatly at the hands of terrorists,” Miller told reporters at a press briefing on Monday, when asked whether the US would support Pakistan if it struck militant targets in Afghanistan. “We have a shared interest in combating threats to regional security.”

He said the United States partners with a range of civilian institutions in Pakistan and regularly engages the Pakistani government to identify opportunities to build capacity and strengthen regional security.

MAY 9 PROTESTS

Miller was asked about Washington’s stance on the violent May 9, 2023 protests across Pakistan, where angry supporters of former prime minister Imran Khan attacked government and military installations in response to his brief arrest on corruption charges. 

A nationwide crackdown was launched against Khan’s Pakistan Tehreek-e-Insaf (PTI) party leaders and supporters in the aftermath of the protests, with many of them publicly parting ways with the former prime minister. Khan distanced himself from the violence, accusing Pakistan’s intelligence agencies of framing his supporters for the violence. Pakistan’s government and military have both rejected the allegations. 

At least 103 people linked to the May 9 riots are currently being tried in army courts, unleashing widespread criticism from within Pakistan and rights organizations globally over the courts’ secretive nature and existence alongside a functioning civilian legal system. 

“So our thoughts are the same anywhere in the world, which is we support legitimate, free expression, including the right to protest, the right to peaceful assembly, and we oppose violent actions, we oppose vandalism, looting, arson,” Miller said about the May 9 protests. 

He said Washington expected governments to deal with such protests “consistent with the rule of law and respect for free speech.”


Pakistan stocks close at record high over current account surplus, falling bond yields

Updated 18 December 2025
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Pakistan stocks close at record high over current account surplus, falling bond yields

  • KSE-100 index gains 1,646.79 points or 0.97% to close at new high of 171,960.64 points
  • Pakistan’s central bank posted a current account surplus of $100 million in November

KARACHI: Pakistani stocks closed at an all-time high of 171,960.4 points on Thursday, with financial analysts attributing the surge to increasing investor confidence stemming from a current account surplus reported in November and a drop in government bond yields.

The benchmark KSE-100 index gained 1,646.79 points or 0.97% to close at an all-time high of 171,960.64 points on Thursday. The previous day, Pakistani stocks surged to 170,313.85 points at close of business. 

Ahsan Mehanti, chief executive officer at Arif Habib Commodities, said the optimistic mood at the stock exchange was fueled by the $100 million current account surplus reported by the central bank in November.

“Speculations ahead of year-end close and fall in government bond yields up to 70 basis points after the SBP (State Bank of Pakistan) policy easing played the catalyst role in bullish activity at PSX,” Mehanti told Arab News. 

The surplus was a welcome development for Islamabad as Pakistan’s central bank reported a $291 million deficit in October.

Topline Securities, a Pakistani brokerage firm, said in its daily market review that strong buying by local funds followed a drop in Pakistan Investment Bond (PIB) yields, which boosted investor confidence.

PIB yields are the returns on bonds or government-backed securities that pay fixed semi-annual interest, with rates influenced by market demand and SBP auctions.

“Strength in ENGRO (Engro Corporation), FFC (Fauji Fertilizer Company), UBL (United Bank Limited), LUCK (Lucky Cement) and BAHL (Bank AL Habib) underpinned positive momentum, collectively contributing 1,504 points to the index,” the brokerage firm wrote on X. 

“This upside was partly offset by declines in PIOC (Pakistan International Oil Company), DHPL (D.H. Corporation Limited) and MLCF (Millat Tractor Limited), which together subtracted 176 points.”

The sustained rise in equities comes amid improving liquidity conditions and continued investor participation, with market participants focusing on corporate earnings, sector-specific developments and broader macroeconomic signals.

Earlier on Monday, Pakistan’s central bank cut its key policy interest rate by 50 basis points to 10.5%, a move that surprised analysts and followed four consecutive policy meetings where rates were held unchanged.

The cut came despite an International Monetary Fund staff report earlier this month cautioning against premature monetary easing.

Inflation eased to 6.1% in November, remaining within the SBP’s target band, though analysts have warned that price pressures could resurface later in the fiscal year as base effects fade and food and transport costs remain volatile.