Pakistan urges citizens to leave Lebanon amid escalating tensions in Middle East

Smoke billows from the site of an Israeli strike on the southern Lebanese village of Kfar Kila on August 6, 2024. (AFP)
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Updated 07 August 2024
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Pakistan urges citizens to leave Lebanon amid escalating tensions in Middle East

  • Tensions mounted in the region following the assassinations of a Hezbollah commander, Hamas political chief
  • The assassinations led to fears of a broader regional conflict as Iran threatened to retaliate against Israel

ISLAMABAD: Pakistan’s foreign office issued an advisory related to Lebanon on Tuesday, urging its citizens to leave the Arab country or avoid traveling there amid escalating security tensions in the region following the recent assassinations of a Hezbollah commander in Beirut and the Hamas political chief in Tehran.

The killings of Hezbollah’s Fouad Shukr and Hamas’s Ismail Haniyeh occurred within a span of a few hours in different parts of the Middle East last month, raising fears of a broader regional conflict as Iran threatened to retaliate against Israel in response to the latter event.

The Netanyahu administration did not claim responsibility for targeting Haniyeh, though it was widely believed to be behind the attack in Tehran while the Hamas leader was visiting Iran to attend the inauguration of its new president.

Iran-backed Hezbollah in Lebanon has already been engaged in skirmishes with Israel since the beginning of the conflict in Gaza on October 7.

“In view of the recent developments and the prevailing security situation in the region, all Pakistanis are advised to avoid travel to Lebanon till further notice,” the foreign office said in the advisory.

“All Pakistani nationals presently residing in Lebanon are advised to leave Lebanon while the commercial flights remain available,” it continued. “Those staying in Lebanon are advised to exercise extreme caution especially with regard to vulnerable areas.”

The foreign office also shared the contact details of its diplomatic mission Beirut, asking its citizens in Lebanon to remain in contact with its embassy.

Israel launched its air and ground offensive targeting Gaza last October following a surprise attack by Hamas in which around 1,200 people were killed and more than 250 were taken hostages.

The Palestinian group said its attack was in response to the deteriorating condition of Palestinian people living under occupation.

Israel’s response was widely viewed as disproportionate by the international community in which nearly 40,000 people, mostly women and children, have died.

Since the outset of the conflict, the international community has remained concerned the war could also spread to other parts of the Middle East.


Pakistani stocks hit record high on UAE investment optimism

Updated 5 min 43 sec ago
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Pakistani stocks hit record high on UAE investment optimism

  • Pakistan is in talks with the UAE to convert its $1 billion loan into equity investment
  • The KSE-100 index on Monday gained 1,495.61 points to close at 173,896.34 points

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Monday closed at an all-time high of 173,896 points, traders and analysts said, attributing it to investor confidence in a prospective United Arab Emirates (UAE) investment in a Pakistani conglomerate, Fauji Foundation.

The benchmark KSE-100 index gained 1,495.61 points, or 0.87%, to close at 173,896.34, up from the previous close of 172,400.73. The index crossed 174,000 points during intra-day trading, with Pakistan's Finance Adviser Khurram Schehzad calling it a "strong start" to the week.

Ahsan Mehanti, Chief Executive Officer of Arif Habib Commodities, said the government’s deliberation on the privatization of ailing state-owned enterprises, rupee stability, and surging crude oil prices also played a catalytic role in the bullish trend.

"Stocks closed all-time high as investor eye UAE $1 billion rollover liability set to end [by] acquiring shareholding in Fauji Foundation," he told Arab News.

The development came days after Pakistan's Deputy Prime Minister Ishaq Dar said the country was seeking to convert part of its financial support from the UAE into long-term investment to reduce external debt.

Pakistan has been in talks with the UAE to convert its $1 billion loan in deposits into equity investment, potentially involving stakes in companies linked to the Fauji Fertilizer Group — a move that would eliminate Pakistan’s repayment obligation.

Since Jan 2025, the PSX has delivered more than 50% returns in US dollar terms, making it one of the best markets in Asia, with 2025 being another year of strong gains for investors, according to Schehzad.

"Investor participation is rising fast — the equity investor base has crossed 450,000, up 120,000+ investors (+37%) in 18 months," he said on X.

"These record levels reflect growing investor confidence, supported by continued macro stability, key reforms, and improving prospects for more sustainable, higher future growth."

In recent years, Pakistan has implemented stringent structural reforms under the International Monetary Fund (IMF) loan programs, aimed at reducing fiscal deficits and restoring investor confidence.

The South Asian country’s foreign exchange reserves have also risen past the $21 billion mark, according to the central bank’s latest data.