KARACHI: Pakistan’s stocks rallied on Monday and rose 0.6 percent to the highest close in more than two months as the International Monetary Fund (IMF) gave some positive signals about its ongoing review of the South Asian country’s $7 billion loan program.
The benchmark KSE-100 index gained more than 1,000 points in the day trade before closing the week’s first session at 116,199.59 points, according to stock analysts.
Sana Tawfik, head of research at Arif Habib Ltd, said the stock market could reach 123,000 points by June if Pakistan sails through the first review of the IMF program.
“This is the highest since January 6,” Tawfik said, citing two main reasons for Monday’s bullish run.
“One is the IMF that issued a statement saying significant progress has been made [in talks with Pakistan] toward reaching the staff-level agreement. [Secondly], the overall sentiment is positive.”
The Washington-based lender put all speculation about its negotiations with Islamabad to an end, when its mission chief, Nathan Porter, said last week the two sides had made “significant progress” toward reaching an accord.
“The mission and the authorities will continue policy discussions virtually to finalize these discussions over the coming days,” Porter said on March 15.
The IMF team stayed in Pakistan for more than two weeks and reviewed the country’s economic reforms under its Extended Fund Facility as well as a fresh loan of about $1.5 billion to increase its climate resilience and sustainability.
“The IMF described the progress of the $7 billion loan program as ‘strong’ despite the absence of a staff-level agreement,” said Naveed Nadeem, a senior equity trader at Topline Securities Ltd., in a note to clients.
Monday’s rally was driven by Mari Energies, Pakistan State Oil, Oil & Gas Development Company Ltd. Lucky Cement and Searle Pakistan that collectively added 658 points to the benchmark index at the Pakistan Stock Exchange.
The equity market also gained some strength from reports of the government’s plan to resolve the longstanding issue of power sector debt, or the circular debt, according to analysts.
“This performance was influenced by the government’s initiatives to tackle Pakistan’s power sector debt,” Nadeem added.
‘Significant progress’ in IMF review triggers bull run at Pakistan stock market
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‘Significant progress’ in IMF review triggers bull run at Pakistan stock market
- The KSE-100 index gained over 1,000 points to close the week’s first session at 116,199.59 points
- The index may rise to a record 123,000 points by June, if Pakistan clears IMF review, analyst says
Pakistani religio-political party relocates pro-Gaza march after Red Zone sealed in Islamabad
- Jamaat-e-Islami shifts Gaza march to Expressway after initially planning to rally outside the US embassy
- JI leaders promise a ‘sea of people’ in Islamabad, urge government not to block roads across the city
ISLAMABAD: A popular Pakistani religio-political party shifted its Gaza Solidarity March from outside the United States embassy to Expressway between Rawalpindi and Islamabad, its spokesperson confirmed Sunday, after authorities sealed all routes to the Red Zone in the federal capital that houses embassies and sensitive government buildings.
Jamaat-e-Islami (JI) announced to organize the march toward the US diplomatic mission in Islamabad during its recent rallies in Karachi, Lahore and other Pakistani cities to protest Washington’s support for Israel’s military campaign in Gaza.
The party has also given a call for a nationwide strike against Israel’s war on April 22.
“JI will now hold the Gaza March on Islamabad Expressway near Zero Point, where a stage will be set up at the H-8 overhead bridge, and the party chief, Hafiz Naeem-ur-Rehman, along with other central leaders, will address the gathering,” Aamir Baloch, the JI spokesperson for foreign media, said in a statement.
He promised “a sea of people” in Islamabad as the march to express solidarity with the oppressed people of Gaza proceeded.
“We urge the government to refrain from underhand tactics and ensure all routes remain open,” he told Arab News in response to a question about road closures across Islamabad.
The Islamabad administration issued a traffic advisory earlier in the day, saying all roads to the Red Zone had been closed except for two entry points.
“Containers are placed at all major Red Zone access points, including D-Chowk,” the administration said in a statement. “Only Margalla Road and Bari Imam gates are open.”
Responding to these developments, the JI general secretary, Amirul Azeem, said in a video message his party’s march would remain peaceful like its recent demonstrations in other parts of the country.
“The government of Pakistan has decided to stop this march,” he said. “I request the people of Pakistan to actively participate in it.”
Pakistan does not maintain diplomatic ties with Israel and has consistently condemned its military actions in Gaza, particularly the killing of thousands of unarmed Palestinian women and children. Islamabad has also urged the resumption of humanitarian aid to the besieged territory and called for renewed negotiations aimed at a two-state solution.
It has long supported the establishment of an independent Palestinian state based on pre-1967 borders, with East Jerusalem as its capital.
Since October 7, 2023, Israel’s military offensive in Gaza has killed over 51,000 people and injured more than 116,000, according to the Gaza Health Ministry.
Pakistan PM launches second nationwide polio vaccination drive of 2025
- Pakistan plans to vaccinate 45 million children against poliovirus nationwide from Apr. 21-27
- Shehbaz Sharif urges Pakistani parents to help vaccination teams administer polio drops
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday launched Pakistan’s second nationwide vaccination campaign against poliovirus, scheduled to be held from Apr. 21-27, as Islamabad struggles to eradicate the disease.
Polio is a paralyzing disease with no cure and multiple doses of the oral polio vaccine — along with completing the routine immunization schedule for children under five — are crucial to building immunity against the virus.
Pakistan, which has reported six polio cases so far in 2025, has planned three major vaccination campaigns in the first half of the year, with additional rounds scheduled for April and May. The seven-day campaign is going to be the second anti-polio drive to be held this year, and aims to vaccinate over 45 million children against the disease.
“It is my request to parents all over Pakistan that they help us out in administering polio drops to their children,” Sharif said during a ceremony in Islamabad.
“Help our teams in the field so that this virus can be eliminated for good.”
Sharif said the government has undertaken stringent security measures in sensitive areas for polio volunteers. He called on authorities to mobilize the public so that they become “soldiers” in the fight against poliovirus.
Earlier, the prime minister kicked off the anti-polio campaign by administering polio drops to a few children.
Pakistan’s polio program, launched in 1994, has faced persistent challenges including vaccine misinformation and resistance from some religious hard-liners who claim immunization is a foreign conspiracy to sterilize Muslim children or a guise for Western espionage.
Militant groups have also repeatedly targeted and killed polio vaccination workers.
In 2024, Pakistan reported an alarming 74 polio cases. Along with Afghanistan, it remains one of the only two countries where polio is still endemic.
Pakistan’s national airline launches first direct Lahore-Baku flight in push for connectivity
- PIA’s flight PK-159 departs from Lahore Airport at 11:50 am with 152 passengers on board for Baku
- Flight will strengthen relations between Pakistan and Azerbaijan, says Defense Minister Khawaja Asif
KARACHI: Pakistan’s national airline launched the first Lahore to Baku flight on Sunday, marking its latest step to expand travel links amid Islamabad’s push for deeper connectivity with Central Asian states.
The Pakistan International Airlines (PIA) launched its weekly flight from Lahore to Baku as Islamabad strengthens diplomatic and trade ties with Azerbaijan, a key partner in its broader regional outreach. The new route is expected to boost tourism, business travel, and cultural exchange between the two countries.
PIA’s PK-159 flight departed from Lahore Airport at 11:50 am with 152 passengers for Baku. Defense Minister Khawaja Muhammad Asif and Azerbaijan’s Ambassador to Pakistan Khazar Farhadov attended a ceremony at the airport before the flight’s departure.
“PIA is expanding its network, and Baku is an important addition to this chain,” Asif was quoted as saying by the airline. “This flight will significantly strengthen relations between Pakistan and Azerbaijan.”
The new flight service is seen as part of Pakistan’s ongoing quest to improve air connectivity with countries in Central Asia, where it has been seeking to expand trade and diplomatic engagement in recent years.
Pakistan is aggressively eyeing opportunities to expand trade and tourism ties with regional allies, Gulf countries, Central Asian states and others as it targets sustainable economic growth.
Pakistan eyes enhanced cooperation with Saudi Arabia to prevent drug trafficking
- Pakistan’s interior minister meets Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki
- Mohsin Naqvi assures Saudi envoy Pakistan has “tightened the noose” around begging mafia
ISLAMABAD: Pakistan wants to enhance cooperation with Saudi Arabia in curbing illicit activities such as drug trafficking and human smuggling, Interior Minister Mohsin Naqvi said on Sunday.
Pakistan this week organized the Pak-GCC Regional Narcotics Conference, organized by the Anti-Narcotics Force (ANF) in Islamabad, where delegates from the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait gathered to develop a joint strategy against narcotics trafficking and abuse.
Naqvi visited the Saudi embassy in Islamabad on Sunday where he met Saudi Arabia’s Ambassador to Pakistan, Nawaf bin Said Al-Malki. The two discussed matters of mutual interest, enhancing bilateral relations and increasing mutual cooperation, the interior ministry said.
“We want to enhance cooperation with Saudi Arabia to prevent drug trafficking and human smuggling,” Naqvi was quoted as saying by his ministry.
Islamabad has been worried about the trend of Pakistani beggars abusing visas to beg in foreign countries. Pakistan fears this could impact genuine visa-seekers and particularly religious pilgrims traveling to Saudi Arabia.
According to widespread media reports, Riyadh raised this issue with Islamabad at various forums last year.
Naqvi assured Malki that the government has “tightened the noose” around the begging mafia in Pakistan.
“New conditions are being imposed for obtaining passports to curb begging and illegal immigration,” he said.
Naqvi thanked Saudi Arabia for releasing a Pakistani family that had been “framed” for smuggling narcotics to the Kingdom earlier this year.
“Saudi Arabia provided significant support for the release and repatriation of the innocent family,” he said.
“Thanks to the cooperation of the Saudi government, five members of the family were released and returned home,” he added.
As per the interior ministry, Malki said Riyadh enjoyed close relations with Islamabad and wanted to strengthen them further.
Pakistan and Saudi Arabia enjoy cordial relations rooted in shared faith, culture and traditions.
Pakistanis are the second-largest expatriate community in the Kingdom, with over 2.5 million living and working in Saudi Arabia, the top source of remittances to the South Asian country.
Security beefed up in Islamabad ahead of religiopolitical party’s pro-Gaza march today
- Jamaat-e-Islami Pakistan plans to organize Gaza Solidarity March at 3:00 p.m. in Islamabad today
- Local media reports say major routes leading to Red Zone sealed off with containers, barbed wire
ISLAMABAD: Security has been beefed up in Pakistan’s capital and all routes leading to the Red Zone in Islamabad have been sealed today, Sunday, ahead of a planned Gaza Solidarity March by the Jamaat-e-Islami (JI) political party.
Religiopolitical party JI had announced it would organize a march toward the US embassy in Islamabad on Apr. 20 to protest Washington’s support for Israel’s military campaign in Gaza.
The JI has held massive protests in Karachi, Lahore and other Pakistani cities this month to protest against Israel’s renewed hostilities in Gaza. The party has also called for a nationwide strike against Israel’s war on Apr. 22.
“Jamaat-e-Islami’s Gaza March is taking place in Islamabad today,” Amirul Azeem, the JI’s general secretary, said in a video message.
“The government of Pakistan has decided to stop this march. I request the people of Pakistan to actively participate in it.”
Azeem said the Islamabad march by the party would remain peaceful similar to its demonstrations in other parts of the country in the recent past. He urged men, women and the elderly from all walks of life to take part in the march and show their support for Palestine.
Local media reported that the government has heightened security measures in the capital ahead of the march, which is scheduled to begin at 3:00 pm.
Authorities have blocked three main routes leading to the Red Zone, a high-security area in Islamabad where all the top government buildings, diplomatic missions, and key institutions are located, using containers, barbed wire and concrete barriers.
News reports also mentioned the increased presence of police personnel at various locations in the city.
Pakistan, which does not have diplomatic relations with Israel, has frequently criticized the Jewish state for its military operations in Gaza. Islamabad has also called for the resumption of humanitarian aid to the Palestinian territory and the need for a revival of negotiations leading to a two-state solution.
Islamabad consistently calls for an independent Palestinian state along the pre-1967 borders and with East Jerusalem as its capital.
Since Oct. 7, 2023, Israel’s military offensives in Gaza have killed over 51,000 people and wounded over 116,000, as per the Gaza Health Ministry.
