Pakistan welcomes ICJ ruling on Israeli occupation of Palestine, calls on world to implement it

Judge and President of the International Court of Justice (ICJ), Nawaf Salam (2nd R) delivers a non-binding ruling on the legal consequences of the Israeli occupation of the West Bank and East Jerusalem at the International Court of Justice (ICJ) in The Hague on July 19, 2024. (AFP)
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Updated 20 July 2024
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Pakistan welcomes ICJ ruling on Israeli occupation of Palestine, calls on world to implement it

  • The International Court of Justice on Friday said Israel’s settlement policy in the West Bank and east Jerusalem violated international law
  • Israel captured the West Bank, east Jerusalem and Gaza Strip in 1967 Mideast war, Palestinians seek all three areas for an independent state

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Saturday welcomed the International Court of Justice’s (ICJ) advisory opinion on Israeli occupation of Palestinian territories and demanded the world implement the ruling to ensure the Palestinians get their due rights.
The United Nations (UN) top court said Israel’s settlement policy in the West Bank and east Jerusalem violated international law as it delivered on Friday a non-binding advisory opinion on the legality of Israel’s 57-year occupation of lands sought for a Palestinian state.
Israel captured the West Bank, east Jerusalem and Gaza Strip in the 1967 Mideast war. The Palestinians seek all three areas for an independent state. The ICJ ruling could have more effect on international opinion than it will on Israeli policies.
In a post on X, Sharif said the ICJ ruling that Israel must end its occupation and illegal settlements was a vindication of the legitimate struggle of the Palestinian people.
“I urge the international community & UN to implement the ruling, ensuring Palestinian self-determination through a two-state solution in line with relevant UN resolutions,” he said.
“Proud that Pakistan contributed to the case, demonstrating our unwavering commitment to the Palestinian cause.”

Pakistan does not recognize the state of Israel and calls for an independent Palestinian state based on “internationally agreed parameters.”
Friday’s ruling by the ICJ came against the backdrop of Israel’s devastating 10-month military assault on Gaza, which was triggered by the Hamas-led attacks in southern Israel.
The court also found that Israel’s use of natural resources was “inconsistent” with its obligations under international law as an occupying power.
In a separate case, the ICJ is considering a South African claim that Israel’s campaign in Gaza amounts to genocide, a claim that Israel vehemently denies.


Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

Updated 01 January 2026
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Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

  • Pakistani financial analyst attributes surge to falling inflation, investors expecting further policy rate cuts
  • Pakistan’s finance ministry said Thursday that inflation had slowed to 5.6 percent year-on-year in December 

KARACHI: Pakistani stocks continued their bullish run on Thursday, breaching the 176,000 points barrier for the first time after trading ended, with analysts attributing the surge to investors expecting further cuts in the policy rate. 

The KSE-100 benchmark gained 2,301.17 points at close of business on Thursday, marking an increase of 1.32 percent to settle at 176,355.49 points. 

Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last ‌month, breaking a four-meeting ‌hold in a move ‌that ⁠surprised ​markets. Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis as per data from the finance ministry. 

“Upbeat data for consumer price index (CPI) inflation at 5.6pc in December 2025 [with] investors expecting a further State Bank of Pakistan rate cuts on falling inflation data,” Ahsan Mehanti, CEO of Arif Habib Commodities Ltd., told Arab News. 

The stock market witnessed a trading volume of 1,402.650 million shares, with a traded value of Rs48.424 billion ($173 million), compared with 957.239 million shares valued at Rs44.231 billion ($158 million) during the previous session.

Topline Securities, a leading brokerage firm in Pakistan, credited the surge to strong buying at the first session.

“This positivity can be accredited to buying by local institutions on the start of the new calendar year,” it said. 

Pakistan’s Finance Adviser Khurram Schehzad highlighted that the bullish trend at the stock market reflected “strong investor confidence.”

“With lower inflation, affordable fuel, stronger reserves, rising digitization and a buoyant capital market, Pakistan’s economic outlook is clearly improving--supporting greater confidence, better investment sentiment and more positive momentum for 2026,” he said on social media platform X.