ISLAMABAD: The Pakistani delegation to the UN General Assembly staged a walkout in protest as Israeli Prime Minister Benjamin Netanyahu took the podium, vowing to continue Israel’s attacks on Iranian-backed fighters in Lebanon in a closely watched United Nations speech on Friday.
Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital.
Since the beginning of Israel’s war on Gaza in Oct 2023, Pakistan has repeatedly raised the issue at the United Nations, the Organization of Islamic Cooperation and other multilateral platforms and demanded international powers and bodies stop Israeli military actions in Gaza. The South Asian country has also dispatched several aid consignments for Palestine.
Video footage widely shared on social media showed the Pakistani delegation walking out of the UNGA hall.
“Pakistani delegation led by Prime Minister Shehbaz Sharif walked out as Israeli PM Benjamin Netanyahi took the podium after PM Shehbaz’s speech,” the foreign office said, as it shared a video of the walkout with reporters.
Netanyahu’s speech on Friday dampened hopes for a ceasefire that could head off an all-out regional war.
“As long as Hezbollah chooses the path of war, Israel has no choice, and Israel has every right to remove this threat and return our citizens to their homes safely,” Netanyahu told the UNGA, referring to escalating violence between the Lebanese Hezbollah and Israel.
“Israel has been tolerating this intolerable situation for nearly a year. Well, I’ve come here today to say enough is enough.”
Several delegations including Pakistan’s walked out as Netanyahu approached the lectern while supporters in the gallery cheered.
In southern Lebanon, Israel continued to strike Hezbollah targets while diplomats at the UN voiced fears the attacks could flare into a wider war that draws in Israel’s arch-foe, Iran.
In his speech, Netanyahu sought to pin blame for the conflict on Iran, whose delegation was absent for the speech. He said Israel was defending itself against Tehran on seven fronts, including against Hamas in Gaza, Hezbollah in Lebanon and Houthis in Yemen.
“There is no place in Iran that the long arm of Israel cannot reach. And that’s true of the entire Middle East. Far from being lambs led to the slaughter, Israel soldiers have fought back with incredible courage,” Netanyahu said.
“I have another message for this assembly and for the world outside this hall: We are winning,” he said. “We’ll continue degrading Hezbollah until all our objectives are made.”
During the speech, Netanyahu cited the presence in the hall of families of hostages seized by Hamas on Oct. 7. The war began when Hamas gunmen stormed Israeli communities, killing around 1,200 people and taking about 250 hostages back to Gaza, according to Israeli tallies.
Since then, Israel’s military has leveled swaths of the besieged Palestinian enclave, driving nearly all of its 2.3 million people from their homes, giving rise to deadly hunger and disease and killing more than 41,000 people, according to Palestinian health authorities.
With inputs from Reuters
Pakistan delegation walks out as Israeli PM takes podium to address UNGA
https://arab.news/zyecx
Pakistan delegation walks out as Israeli PM takes podium to address UNGA
- Over 41,000 Palestinians have been killed since Israel launched a war on Gaza in October last year
- Netanyahu’s speech on Friday dampened hopes for a ceasefire that could head off an all-out regional war
Pakistan stocks hit record high on hopes of rate cut, improved US ties
- Benchmark index gains 2,662 points, or 1.44 percent, to close at an all-time high of 187,761 points
- Engro, UBL, Hub Power, Fauji Fertilizer, Meezan Bank and Service Industries added 1,554 points to index
ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a record high as it surpassed the 187,500-point mark on Monday, with analysts citing improving ties with the United States and expectations of an imminent interest rate cut.
The benchmark KSE-100 index gained 2,662.86 points, or 1.44 percent, to close at an all-time high of 187,761.69 points, up from the previous close of 185,098.83 points, according to PSX data.
The stock gains came a day after President Donald Trump invited Prime Minister Shehbaz Sharif to join the so-called “Board of Peace” for Gaza, amid increasing Pakistan-US diplomatic and economic engagement since Trump’s rise to presidency.
“Falling government bond yields and improving Pakistan-US relations played a catalyst role in record close at PSX,” Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.
Meanwhile, Karachi-based market research firm Topline Securities said bulls extended their rally as hopes of a rate cut by the State Bank of Pakistan (SBP) fueled investor sentiment.
“Investor sentiment remained upbeat, largely fueled by rising expectations of an imminent interest rate cut,” it said in a post on X. “Market participants increasingly priced in a 50bps reduction in the upcoming monetary policy, which kept buying interest alive and underpinned broad-based gains.”
In December, the SBP cut its key policy rate by 50 basis points to 10.5 percent, resuming monetary easing after four meetings in a move that surprised many despite International Monetary Fund guidance to keep policy “appropriately tight” to anchor inflation expectations.
Engro Holdings Limited (ENGROH), United Bank Limited (UBL), Hub Power Company Limited (HUBC), Fauji Fertilizer Company Limited (FFC), Meezan Bank Limited (MEBL) and Service Industries Limited (SRVI) collectively added 1,554 points to the benchmark index on Monday, according to Topline Securities.
“Total market volumes stood at 1,195 million shares, while the value of shares traded amounted to Rs63.7 billion,” the research firm said. “[Bank Makramah Limited] BML led the volume chart, emerging as the most actively traded stock with 246 million shares.”
