Pakistan picks Lt Gen Muhammad Asim Malik to head ISI spy agency 

The picture shared by Pakistani state media, PTV News, on September 23, 2024, shows the newly appointed head of the Inter-Services Intelligence (ISI), Lt. Gen. Muhammad Asim Malik. (PTV News)
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Updated 23 September 2024
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Pakistan picks Lt Gen Muhammad Asim Malik to head ISI spy agency 

  • Malik, currently serving as army’s Adjudicate General, will take over on Sept. 30
  • New spy chief will replace Lt. Gen. Nadeem Anjum, who was appointed in 2021

ISLAMABAD: Pakistan has appointed Lt. Gen. Asim Malik as the new head of its powerful Inter-Services Intelligence (ISI) agency, the country’s state television said on Monday, who will assume charge of his office on Sept. 30. 

The army is arguably the most influential institution in Pakistan, with the military having ruled the country for about half of its 77-year history since independence from Britain and enjoying extensive powers even under civilian administrations.

Malik is currently serving as an adjutant general at the General Headquarters (GHQ) in Pakistan’s garrison city of Rawalpindi, the Pakistan Television (PTV) News said. He will be replacing Lt. Gen. Nadeem Anjum, who was appointed by then-prime minister Imran Khan in 2021. 

“Lt. Gen. Muhammad Asim Malik has been appointed as DG ISI,” PTV News said. “Lt. Gen. Asim Malik will assume charge of his new responsibilities on Sept. 30.”

The state television said Malik has previously served in the Balochistan infantry division and commanded the infantry brigade in Pakistan’s northwestern Waziristan district. 

Pakistan’s new spy chief earned an honorary sword in his course, PTV said, adding that he has also served as chief instructor at the National Defense University (NDU) and as an instructor at the Command and Staff College Quetta.

Malik is a graduate of Fort Leavenworth in the United States and the Royal College of Defense Studies in London, the statement said.

The head of the ISI occupies one of the country’s most powerful positions. His posting comes at a time when Pakistan faces surging militant attacks in the country’s northwestern Khyber Pakhtunkhwa (KP) and southwestern Balochistan provinces by separatists and religiously motivated militants. The surge in militant attacks in KP has marred Pakistan’s relations with Afghanistan, whose government it accuses of providing sanctuaries to the Pakistani Taliban militants who launch attacks in Pakistan. 

The Taliban deny these allegations and have urged Pakistan to resolve their security challenges internally. 

Created in 1948, the ISI gained importance and power during the 1979-1989 Soviet occupation of Afghanistan, and is now rated one of best-organized intelligence agencies in the developing world.

The agency is seen as the Pakistani equivalent of the US Central Agency (CIA) and Israel’s Mossad. Its size is not publicly known but the ISI is widely believed to employ tens of thousands of agents, with informers in many spheres of public life.

The military intelligence agency is believed to have a hidden role in making many of the nuclear-armed nation’s policies, including in Afghanistan and India. The threat to Pakistan from nuclear-armed neighboring India has been a main preoccupation of the ISI through the decades.


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.