ISLAMABAD: Pakistan’s foreign minister said Thursday that he will visit Kabul in the coming days, as Islamabad’s campaign to expel Afghans has forced nearly 60,000 into Afghanistan.
Islamabad has previously said it will deport more than 800,000 Afghans because they are linked to “terrorist” and narcotics activities, but analysts say the move is politically motivated.
“Preparatory meetings have been ongoing and hopefully, within days, I will be visiting Kabul for a day to break this logjam which is there for the last few years,” said Mohammad Ishaq Dar, the foreign minister, who also serves as deputy prime minister.
Pakistan was one of just three countries that recognized the Taliban’s first government in the 1990s and was accused of covertly supporting their insurgency against NATO forces.
But their relationship has soured as militancy in Pakistan’s border regions has soared since the Taliban regained power in Kabul in 2021.
Last year was the deadliest year in Pakistan for a decade, with Islamabad accusing Kabul of allowing militants to take shelter in Afghanistan from where they plan attacks.
The Taliban government denies the charge.
On Tuesday, the International Organization for Migration said Pakistan has expelled nearly 60,000 Afghans since the start of April.
The UN says nearly three million Afghans live in Pakistan, many who have been there for decades or were born there, after fleeing successive conflicts.
The Pakistan government has canceled the residence permits of more than 800,000 Afghans and warned those who are in Pakistan awaiting relocation to other countries that they must leave by the end of April.
More than 1.3 million who hold Proof of Registration cards issued by the UN refugee agency have been told to leave the capital and the neighboring city of Rawalpindi.
Mohammad Sadiq, Pakistan’s special envoy for Afghanistan, this month said the Pakistani Taliban (TTP) militant group was the top issue straining ties.
“TTP is a big challenge that can’t be tolerated. Afghanistan has to work with us on this. If they are not working on this, then all deals are off,” said Sadiq, who is currently visiting Afghanistan.
The TTP is a separate but closely linked group to the Afghan Taliban that carries out frequent attacks on Pakistani security officials.
Pakistan foreign minister to visit Kabul ‘within days’
https://arab.news/p4jfc
Pakistan foreign minister to visit Kabul ‘within days’
- Relationship has soured as militancy in Pakistan’s border regions has soared since the Taliban regained power in Kabul in 2021
- Mohammad Sadiq, Pakistan’s special envoy for Afghanistan, has said Pakistani Taliban militant group was top issue straining ties
Pakistan stocks close at record high over current account surplus, falling bond yields
- KSE-100 index gains 1,646.79 points or 0.97% to close at new high of 171,960.64 points
- Pakistan’s central bank posted a current account surplus of $100 million in November
KARACHI: Pakistani stocks closed at an all-time high of 171,960.4 points on Thursday, with financial analysts attributing the surge to increasing investor confidence stemming from a current account surplus reported in November and a drop in government bond yields.
The benchmark KSE-100 index gained 1,646.79 points or 0.97% to close at an all-time high of 171,960.64 points on Thursday. The previous day, Pakistani stocks surged to 170,313.85 points at close of business.
Ahsan Mehanti, chief executive officer at Arif Habib Commodities, said the optimistic mood at the stock exchange was fueled by the $100 million current account surplus reported by the central bank in November.
“Speculations ahead of year-end close and fall in government bond yields up to 70 basis points after the SBP (State Bank of Pakistan) policy easing played the catalyst role in bullish activity at PSX,” Mehanti told Arab News.
The surplus was a welcome development for Islamabad as Pakistan’s central bank reported a $291 million deficit in October.
Topline Securities, a Pakistani brokerage firm, said in its daily market review that strong buying by local funds followed a drop in Pakistan Investment Bond (PIB) yields, which boosted investor confidence.
PIB yields are the returns on bonds or government-backed securities that pay fixed semi-annual interest, with rates influenced by market demand and SBP auctions.
“Strength in ENGRO (Engro Corporation), FFC (Fauji Fertilizer Company), UBL (United Bank Limited), LUCK (Lucky Cement) and BAHL (Bank AL Habib) underpinned positive momentum, collectively contributing 1,504 points to the index,” the brokerage firm wrote on X.
“This upside was partly offset by declines in PIOC (Pakistan International Oil Company), DHPL (D.H. Corporation Limited) and MLCF (Millat Tractor Limited), which together subtracted 176 points.”
The sustained rise in equities comes amid improving liquidity conditions and continued investor participation, with market participants focusing on corporate earnings, sector-specific developments and broader macroeconomic signals.
Earlier on Monday, Pakistan’s central bank cut its key policy interest rate by 50 basis points to 10.5%, a move that surprised analysts and followed four consecutive policy meetings where rates were held unchanged.
The cut came despite an International Monetary Fund staff report earlier this month cautioning against premature monetary easing.
Inflation eased to 6.1% in November, remaining within the SBP’s target band, though analysts have warned that price pressures could resurface later in the fiscal year as base effects fade and food and transport costs remain volatile.
