ISLAMABAD: Pakistan on Thursday pledged to reduce greenhouse gas (GHG) emissions from the global maritime sector, make greater use of green technology to improve ships’ energy efficiency and carry out more environmentally friendly ship recycling, as the Secretary-General of the International Maritime Organization (IMO) arrived in Islamabad to attend the International Maritime Sustainability Exhibition and Conference (IMSEC).
This is the first-ever visit to Pakistan by the chief of the IMO, a specialized agency of the United Nations responsible for regulating shipping and ensuring maritime safety, environmental protection and security on international waters. Established in 1948, its primary role is to develop and maintain a comprehensive regulatory framework for shipping, which includes standards for safety, pollution prevention and legal matters surrounding global maritime operations.
“Pakistan fully complies with IMO regulation,” Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh said at the opening session of Thursday’s conference.
“We are striving to reduce the global [carbon] footprint and make greater use of green technology. Such measures must be taken in every institution to deal with climate change.”
The minister said Pakistan was invested in ensuring the protection of biodiversity and the oceans and would work to make ship recycling “safe and environmentally friendly.”
“We are ready to work with global organizations to promote ship making, ship recycling and the blue economy,” Sheikh added.
Addressing the conference, IMO chief Arsenio Antonio Dominguez Velasco said his visit to Pakistan would give him the opportunity to “come back in the future and assess and evaluate all the promises and the conversations and the challenges that we are going to put toward each other, from Pakistan government as well as from IMO in order to work better in the different aspects of shipping.”
He said he looked forward to working with Pakistan on decarbonization and ship recycling, where Pakistan is one of the leading nations in the world.
In a statement shared with media on Wednesday, the foreign office said Velasco’s visit would afford an opportunity for Pakistan and the IMO to exchange views on the maritime sector and the blue economy:
“As a founding member of IMO, Pakistan is deeply committed to IMO’s vision of safe, secure and efficient shipping on clean oceans … Pakistan has served for five terms on the IMO Council and has consistently contributed in upholding the IMO objectives.”
The foreign office said Velasco would be in Pakistan from September 12 to 14 and would hold meetings with Pakistani leaders and senior government officials.
He is scheduled to attend IMSEC, which began in Islamabad on Thursday and will continue in Pakistan’s port city of Karachi over the next two days.
Pakistan commits to maritime decarbonization, environmentally friendly ship recycling at Islamabad summit
https://arab.news/8fxtj
Pakistan commits to maritime decarbonization, environmentally friendly ship recycling at Islamabad summit
- UN maritime chief is in Pakistan on first-ever visit as Islamabad hosts International Maritime Sustainability Conference
- Pakistan says ready to work with global organizations to promote ship making, ship recycling and the blue economy
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.
