KARACHI: The provincial administration of Sindh held a meeting on Tuesday to review and strengthen security measures taken to protect Chinese nationals working on various projects in the province after a deadly attack at the Karachi airport killed two of them earlier this month.
The two countries jointly initiated a series of energy and infrastructure development projects under the multibillion-dollar China-Pakistan Economic Corridor (CPEC) to aid Pakistan’s development. However, militants have persistently targeted Chinese nationals in different parts of the country, raising concerns about their safety and the prospects of the economic collaboration between the two nations.
A massive blast outside the Karachi airport in Sindh killed two engineers from China working in the energy sector on October 6, only a few days ahead of the Shanghai Cooperation Organization (SCO) Summit in Islamabad attended by dozens of high-profile foreign dignitaries in the federal capital.
“The security of CPEC and non-CPEC affiliated Chinese citizens must be coordinated and effective at every level,” Sindh Interior Minister Zia-ul-Hassan Lanjar, who presided over the meeting attended by law enforcement and intelligence officials, was quoted as saying in an official statement circulated after the meeting.
The minister also expressed concern over the safety of Chinese nationals working with Pakistani businesses.
“Sponsors must also be made aware of their responsibilities regarding the arrival and security of foreigners in Sindh,” he continued.
Lanjar maintained that with the formal support and cooperation of the Sindh government, the overall security for foreigners and Chinese workers affiliated with CPEC and non-CPEC projects must be improved.
Karachi has also witnessed attacks against Chinese nationals in the past.
In April 2022, a female suicide bomber killed three Chinese teachers in Karachi along with their local driver at a university, prompting the authorities in both Islamabad and Beijing to express concern about the violence targeting people from China in Pakistan.
The renewed focus on security underscores the ongoing threats faced by Chinese workers, and efforts being ramped up to prevent such incidents from jeopardizing bilateral ties and economic collaboration between the two countries.
Pakistani officials call for greater coordination on Chinese workers’ security after Karachi attack
https://arab.news/8vp4b
Pakistani officials call for greater coordination on Chinese workers’ security after Karachi attack
- Sindh government wants local sponsors of Chinese workers to ensure security of their guests
- Provincial minister promises official support to ensure security for CPEC, non-CPEC workers
Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst
- Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
- Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity
ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said.
Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday.
The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.
Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday.
“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.
He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.
An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.
However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days.
Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.
The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.
Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.
Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.
