PESHAWAR: Warring tribes in Pakistan’s northwestern Kurram district have agreed to a ceasefire and ended hostilities, officials said on Sunday, following five days of armed clashes in the district that left 30 people dead and 158 wounded over a property dispute.
Located along Pakistan’s border with Afghanistan in the northwestern Khyber Pakhtunkhwa (KP) province, the Kurram tribal district has witnessed deadly conflicts among tribes and religious groups as well as sectarian clashes and militant attacks.
A major conflict that began in 2007 continued for years before it was ended with the help of a jirga, a traditional assembly of tribal elders, in 2011. The latest clashes over a property broke out five days ago and quickly spread to several villages and nearby settlements.
“Officials with the help of tribal elders have brokered a truce between the two tribes today,” Nisar Ahmad Khan, the district police officer (DPO), told Arab News. “Police are now busy vacating bunkers and trenches from the warring tribes and taking control of those bunkers.”
The clashes erupted over the ownership of a property between two families that engulfed the entire volatile district, according to officials and local politicians.
Dr. Mir Hassan Jan, medical superintendent at the District Headquarters Hospital in Parachinar, the main town in Kurram district, told Arab News on Sunday that medical facilities in the district had so far received 30 bodies.
“We have a total number of 30 dead and another 158 wounded that had been brought or are being treated at the district’s hospitals,” he added.
Most of the villages in the area faced a shortage of food and lifesaving medicines amid clashes and closure of roads by authorities to contain the unrest as the warring sides pounded each other with small and heavy and small weapons.
Sajid Hussain Turi, a politician from the area who served as federal minister for overseas Pakistanis in Prime Minister Shehbaz Sharif’s previous administration, said the main focus of civil and security officials was to help reach a ceasefire, which materialized today thorough the support of tribal elders.
“Our priority was to broker a ceasefire first,” Turi said. “[In] the second phase, the jirga will settle the land dispute.”
Warring tribes agree to ceasefire in Pakistan’s Kurram after clashes leave 30 dead
https://arab.news/c4x3s
Warring tribes agree to ceasefire in Pakistan’s Kurram after clashes leave 30 dead
- The clashes erupted over the ownership of a property between two families that engulfed the volatile district that border Afghanistan
- Most of the villages in the area faced a shortage of food, lifesaving medicines amid closure of roads by authorities to contain unrest
Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst
- Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
- Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity
ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said.
Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday.
The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.
Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday.
“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.
An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.
However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days.
Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.
The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.
Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.
Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.
