ISLAMABAD: Lt. Gen. SM Kamr-ul-Hassan, principal staff officer (PSO) of the Bangladesh armed forces division, on Sunday met senior Pakistan Navy officials and discussed with them regional maritime security cooperation, Pakistan Navy said.
Lt. Gen. Hassan toured Pakistan Navy ships and units during his visit to the southern Pakistani port city of Karachi, according to the Directorate General Public Relations (DGPR) of Pakistan Navy.
He met Pakistan Fleet Commander Rear Admiral Abdul Munib, Coast Commander Rear Admiral Faisal Amin and Managing Director of Karachi Shipyard & Engineering Works (KS&EW) Rear Admiral Salman Ilyas.
“During these engagements, discussions focused on professional matters of mutual interests, including regional maritime security and bilateral defense collaboration,” the DGPR said in a statement.
“Various potential areas of cooperation were highlighted, such as joint military exercises, reciprocal visits, and training exchange programs between the two countries.”
Pakistan and Bangladesh were once one nation, but they split in 1971 as a result of a bloody civil war, which saw the part previously referred to as East Pakistan seceding to form the independent nation of Bangladesh.
In the years since, Bangladeshi leaders, particularly former prime minister Sheikh Hasina, chose to maintain close ties with India. Relations between Pakistan and Bangladesh have warmed up since Hasina’s ouster as a result of a student-led uprising in August, witnessing a marked improvement.
“The visit of Lt. Gen. SM Kamrul Hassan is expected to further strengthen defense ties between the two brotherly nations, enhancing cooperation and solidifying the bonds between the armed forces of Pakistan and Bangladesh,” Pakistan Navy said.
Lt. Gen. Hassan, who is currently on a visit to Pakistan, this week met Chief of Army Staff (COAS) General Asim Munir in Rawalpindi, according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing. During the meeting, both military commanders stressed the need for an enduring partnership between the two countries to remain “resilient against external influences.”
Earlier in the day, the Trade Development Authority of Pakistan (TDAP) said it would send two trade delegations to Bangladesh on Jan. 19-20 to increase bilateral relations and economic collaboration as both countries move to repair strained ties.
“The first delegation of dates comprising 13 exporters will leave for a week-long visit on Jan. 19 while the second delegation of citrus will leave for a business-to-business (B2B) meeting on Jan. 20,” the TDAP said.
The delegations will explore more trade opportunities, promote business partnerships and Pakistan’s export potential in the Bangladeshi market, it added.
The development comes days after the signing of a landmark agreement between Pakistan and Bangladeshi businesspersons to establish a joint business council between the two countries.
Pakistan’s Deputy Prime Minister Ishaq Dar is also scheduled to visit Dhaka at the start of February to further consolidate the relations between the two countries.
Top Bangladeshi commander meets Pakistan Navy officials, discusses regional maritime security
https://arab.news/69cu7
Top Bangladeshi commander meets Pakistan Navy officials, discusses regional maritime security
- The development comes amid a thaw in relations between both nations since PM Sheikh Hasina’s ouster in August
- The two sides discussed joint military exercises, reciprocal visits and training exchange programs, Pakistan Navy says
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.”
