Pakistan thanks Saudi Arabia for $500 million pledge for polio eradication

Pakistan’s Focal Person for Polio Eradication, Ayesha Raza Farooq, attends the Riyadh International Humanitarian Forum in the Saudi capital on Feb. 25, 2025. (Ayesha Raza Farooq)
Short Url
Updated 27 February 2025
Follow

Pakistan thanks Saudi Arabia for $500 million pledge for polio eradication

  • The funds will be disbursed to help end wild form of polio in Pakistan, Afghanistan and stop outbreaks
  • Pakistan and Afghanistan are only two countries where polio is endemic, with former reporting 74 cases in 2024

ISLAMABAD: Pakistan’s Focal Person for Polio Eradication Ayesha Raza Farooq this week thanked Saudi Arabia for its $500 million pledge to eradicate poliovirus as the South Asian country struggles to contain the virus from spreading. 

Saudi Arabia reaffirmed its $500 million pledge to the Global Polio Eradication Initiative (GPEI), the World Health Organization announced on Monday. The funds, initially pledged in April 2024, will be disbursed to help end the wild form of polio in Pakistan and Afghanistan, and stop outbreaks of variant polio.

Wild polio, a naturally occurring form of the viral disease, is endemic in Pakistan and Afghanistan, which together reported 99 cases last year, according to the WHO. Variant polio is caused by the weakening of the oral polio vaccine.

Farooq participated in the Riyadh International Humanitarian Forum, held from Feb. 24-25 in the Saudi capital, where she took part in a panel discussion on the topic: ‘Ending Polio & Strengthening Health Systems amid Humanitarian Crises.’

“Also expressed my gratitude to the Kingdom of Saudia Arabia @KSRelief_EN for generous support to the Global Polio Eradication Initiative which will be used to vaccinate & protect children against a debilitating disease like polio,” she wrote on X on Wednesday.

“Together we will #endpolio.”

Pakistan last year reported a total of 74 polio cases, a sharp rise from only six cases it reported in 2023. The South Asian country has so far reported only three cases in the first two months of 2025, two from Sindh and one from its northwestern Khyber Pakhtunkhwa (KP) province. 

Pakistan’s efforts to eliminate polio have been undermined by vaccine misinformation and opposition from religious hard-liners who say immunization is a foreign ploy to sterilize Muslim children or a cover for Western spies.

Militant groups in KP province have frequently attacked and killed members of polio vaccine teams, and police officials who guard them. 

Unidentified men shot dead a police constable in KP’s Khyber district on Feb. 3 during a nationwide anti-polio campaign. 

Pakistan says the campaign, conducted from Feb. 3-9, vaccinated more than 45 million children.


Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

Updated 01 January 2026
Follow

Pakistani stocks breach 176,000 points barrier as investors expect further rate cuts

  • Pakistani financial analyst attributes surge to falling inflation, investors expecting further policy rate cuts
  • Pakistan’s finance ministry said Thursday that inflation had slowed to 5.6 percent year-on-year in December 

KARACHI: Pakistani stocks continued their bullish run on Thursday, breaching the 176,000 points barrier for the first time after trading ended, with analysts attributing the surge to investors expecting further cuts in the policy rate. 

The KSE-100 benchmark gained 2,301.17 points at close of business on Thursday, marking an increase of 1.32 percent to settle at 176,355.49 points. 

Pakistan’s central bank cut its key policy rate by 50 basis points to 10.5 percent last ‌month, breaking a four-meeting ‌hold in a move ‌that ⁠surprised ​markets. Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis as per data from the finance ministry. 

“Upbeat data for consumer price index (CPI) inflation at 5.6pc in December 2025 [with] investors expecting a further State Bank of Pakistan rate cuts on falling inflation data,” Ahsan Mehanti, CEO of Arif Habib Commodities Ltd., told Arab News. 

The stock market witnessed a trading volume of 1,402.650 million shares, with a traded value of Rs48.424 billion ($173 million), compared with 957.239 million shares valued at Rs44.231 billion ($158 million) during the previous session.

Topline Securities, a leading brokerage firm in Pakistan, credited the surge to strong buying at the first session.

“This positivity can be accredited to buying by local institutions on the start of the new calendar year,” it said. 

Pakistan’s Finance Adviser Khurram Schehzad highlighted that the bullish trend at the stock market reflected “strong investor confidence.”

“With lower inflation, affordable fuel, stronger reserves, rising digitization and a buoyant capital market, Pakistan’s economic outlook is clearly improving--supporting greater confidence, better investment sentiment and more positive momentum for 2026,” he said on social media platform X.