KARACHI: Pakistan Railways has suspended train operations from the southwestern Pakistani city of Quetta to other parts of the country for four days, it said on Sunday, a day after a deadly bombing at Quetta Railway Station killed more than two dozen people.
At least 26 people were killed and 64 others injured when a suicide bomber blew himself up at the crowded railway station early on Saturday morning in Pakistan’s restive Balochistan province, according to officials.
The Baloch Liberation Army (BLA), the most prominent of separatist groups in Balochistan, claimed responsibility for the attack, the deadliest since a string of coordinated assaults on Aug. 25-26 in which more than 50 people, civilians and security officials, were killed in the region.
On Sunday, Aamir Ali Baloch, chief executive officer of Pakistan Railways, announced the suspension of train operations in view of security concerns and in the interest of passenger safety.
“Operations will resume as soon as clearance is granted,” Pakistan Railways said in a statement on Sunday night.
Train service from Quetta to other cities remained suspended for more than a month after separatist militants blew up a key bridge in the southwestern Balochistan province on August 26.
Built in 1887, the five-span bridge was the second such link constructed by the British Army at the Bolan Pass after reaching an agreement with the then Khan of Kalat, Meer Khuda-e-Dad Khan, to extend the railway network to Quetta and Chaman near the Afghan border.
Baloch said Pakistan Railways had successfully restored Quetta’s connection with the rest of the country and such incidents would not weaken their resolve. He said compensation would be provided to the families of the deceased and to the injured according to the railways insurance policy.
“Fifty injured individuals are currently being treated in trauma centers, where Pakistan Railways’ medical teams are present to provide care,” he said, commending the Quetta division team of railways for the immediate relief operations.
Balochistan is Pakistan’s most impoverished province where separatist militants have been fighting what they see as the unfair exploitation of the province’s mineral and gas wealth by the federation at the center. The province is home to major China-led investment projects such as a strategic port and a gold and copper mine.
The Pakistani government and military deny they are exploiting Balochistan and have long maintained that neighbors such as India, Afghanistan and Iran foment trouble in the remote province and support and fund the insurgency there to impede its development potential.
Pakistan Railways suspends Quetta train operations for four days after deadly bombing
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Pakistan Railways suspends Quetta train operations for four days after deadly bombing
- The suicide bombing at Quetta Railway Station killed 26 people and injured 64 others on Saturday morning
- This was the deadliest attack since coordinated assaults in August that killed over 50 people in Balochistan
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.
