Pakistan PM discusses trade, investment in bilateral meetings with British, Iranian and Iraqi leaders

Britain's Prime Minister Keir Starmer meets with Pakistan's Prime Minister Shahbaz Sharif, left, during a bilateral meeting at the consul general's residence around the fringes of the 79th United Nations General Assembly, in New York, US, on September 26, 2024. (AP)
Short Url
Updated 27 September 2024
Follow

Pakistan PM discusses trade, investment in bilateral meetings with British, Iranian and Iraqi leaders

  • The meetings were held on the sidelines of UNGA session that Shehbaz Sharif will address later today
  • The prime minister discussed economic situation, climate change impact with his British counterpart

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday continued his bilateral meetings on the sidelines of the 79th Session of the United Nations General Assembly (UNGA), discussing Pakistan’s relations with the top leaders of Britain, Iran and Iraq.
Sharif arrived in New York on Tuesday to attend the annual UNGA session, where he is scheduled to address the world body later today, presenting his country’s stance on Israel’s war on Gaza, the lingering Kashmir dispute and the growing global security deficit.
He met his British counterpart, Keir Starmer, to discuss Pakistan’s long-standing and multifaceted relationship with the United Kingdom, which hosts a large Pakistani diaspora. PM Sharif also accepted an invitation from King Charles III to attend the Commonwealth Heads of Government Meeting in Samoa in October, extended during a telephone call earlier this month.
Pakistan and Iran also share a 959-kilometer frontier, where they set up border markets last year to strengthen commercial ties. The country’s relations with Iraq have enhanced in the past few years through defense cooperation, with Islamabad providing support to Iraqi security forces in their fight against the militant group Daesh.
“Prime Minister Shehbaz Sharif met the Prime Minister of Great Britain, Right Honorable Sir Keir Starmer, Iranian President Dr. Pezeshkian and Iraq PM Mohammad Shia’ Al Sudani today in New York on the sidelines of the 79th session of the UNGA in New York,” the PM Office said on Thursday.




Pakistan Prime Minister Shehbaz Sharif (left) meets Iranian President Dr. Masoud Pezeshkian on the sidelines of of the 79th Session of the United Nations General Assembly (UNGA) in New York, US, on September 26, 2024. (Government of Pakistan)

PM Sharif discussed matters of mutual interest with all the leaders, agreeing to promote ties in trade and investment apart from deepening the scope of existing bilateral ties.
He spoke with the British PM about Pakistan’s economic situation, highlighting structural reforms and the expansion of the tax net. He also mentioned the challenges posed by climate change.
The premier emphasized that Britain is the third-largest investor in Pakistan and highlighted the significant role overseas Pakistanis in the UK play in strengthening bilateral relations.
During his meeting with the Iranian president, Sharif stressed the importance of improving neighborly relations and mutually beneficial cooperation, particularly in trade and cultural exchanges.
“The meeting helped reaffirm support for each other and bring forth opportunities for further strengthening this partnership,” the statement said.
Pakistan and Iran have had fluctuating relations despite many commercial agreements. Both countries share a porous border and occasionally blame each other for militant attacks in the frontier regions.
The Pakistani prime minister also lauded his country’s cordial ties with Iraq while meeting Al Sudani which he said were “reinforced by strong historical, cultural and religious affinities.”




Pakistan Prime Minister Shehbaz Sharif (right) meets Iraqi PM Mohammad Shia’ Al Sudani on the sidelines of of the 79th Session of the United Nations General Assembly (UNGA) in New York, US, on September 27, 2024. (Government of Pakistan)

The two leaders also condemned Israel’s military campaign against the Palestinians.


Pakistan stock market crosses record 174,000 points during intraday trading

Updated 29 December 2025
Follow

Pakistan stock market crosses record 174,000 points during intraday trading

  • Pakistan Finance Adviser Khurram Schehzad says stock market’s equity investor base has increased by over 120,000 in last 18 months
  • Official says stock market’s record levels reflect growing investor confidence supported by continued macro stability and key reforms

ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed a record 174,000 points on Monday, Finance Adviser Khurram Schehzad said, marking a strong start to the business week. 

According to the data available on the PSX’s official website, the KSE-100 benchmark reported 174,411.72 points during the intraday trading on Monday morning. 

“Another milestone for Pakistan’s equity market,” Schehzad wrote on social media platform X. “The KSE-100 Index has crossed 174,400 points, marking yet another record high.”

Pointing out the stock market’s achievements this year, Schehzad said the PSX has delivered 50 percent plus returns in US dollar terms to investors since January this year, “making it one of the best markets in Asia.”

He noted that investors’ participation in the PSX is rising fast, adding that the equity investor base has increased by over 120,000 to cross the 450,000 figure in the last 18 months, marking a 37 percent increase. 

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

Pakistan’s stocks have surged in recent years, marking a strong performance this year as Islamabad moves to consolidate its financial recovery after years of economic turbulence, which saw it on the verge of a sovereign default in June 2023. 

Pakistan’s foreign exchange reserves have surged past the $21 billion mark, as per the central bank’s latest data. 

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