ISLAMABAD: Prime Minister Shehbaz Sharif and Organization of Islamic Cooperation (OIC) Secretary General Hissein Brahim Taha agreed on Friday the OIC must intensify pressure on the international community to secure an immediate ceasefire in Gaza during their meeting in Pakistan’s federal capital.
The top OIC official arrived in Islamabad earlier in the day to attend a two-day global conference on girls’ education in Muslim countries, set to begin on Saturday. He was received by Education Minister Khalid Maqbool Siddiqui upon arrival.
During the meeting, the prime minister thanked the OIC for its consistent support regarding the Kashmir dispute with his country’s nuclear rival, India.
Sharif strongly condemned Israel’s ongoing “genocidal campaign” in Gaza and stressed the need for an immediate and unconditional ceasefire, unrestricted humanitarian aid for Palestinians and global accountability for Israel’s conduct of war.
“Both leaders agreed that the OIC must maintain its pressure on the international community for an immediate ceasefire in Gaza,” read an official statement released by Sharif’s office after the meeting. “They emphasized that the resolution of the Palestine issue must align with UN resolutions and the aspirations of the Palestinian people.”
The meeting also touched on combating Islamophobia and other global and regional matters of mutual interest.
GIRLS’ EDUCATION
The OIC secretary general expressed gratitude for Pakistan’s warm reception and praised the country’s leadership role in addressing critical issues facing the Muslim world.
“The hosting the international conference on girls’ education in the Muslim world is an example of Pakistan’s leadership role in addressing important issues,” he said.
Separately, the prime minister also met with Sheikh Dr. Mohammad bin Abdulkarim Al-Issa, the secretary general of the Muslim World League (MWL).
Sharif commended the MWL’s partnership in co-hosting the two-day conference and emphasized that the event would send a strong global message about the Muslim world’s commitment to advancing girls’ education.
Dr. Al-Issa informed Sharif the conference would culminate in the Islamabad Declaration, a consensus document promoting girls’ education in Muslim countries.
He also informed the conference would feature renowned scholars, educators, and thought leaders from around the globe to address a wide range of issues affecting the Muslim world.
Pakistani PM, OIC chief urge global push for Gaza ceasefire
https://arab.news/y7qb6
Pakistani PM, OIC chief urge global push for Gaza ceasefire
- The OIC leader is currently in Islamabad to attend a global conference on girls’ education in Muslim countries
- Shehbaz Sharif also met with the secretary general of the Muslim World League, the co-host of the conference
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.
