In tit-for-tat move, Pakistan bans Indian ships from its ports

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This picture taken on March 8, 2023, shows a cargo ship set to sail from a sea port in Karachi, Pakistan. (Radio Pakistan/File)
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In this handout photo, taken and released by Karachi Port Trust, a container ship sits docked at the Karachi Port in Karachi on May 29, 2024. (Photo courtesy: KPT/File)
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Updated 04 May 2025
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In tit-for-tat move, Pakistan bans Indian ships from its ports

  • Move comes in response to India’s act of banning Pakistani ships, imports on Saturday
  • Tensions surged after Apr. 22 attack in Indian-administered Kashmir killed 26 tourists

ISLAMABAD: Pakistan this week decided to close its shipping ports for Indian flag carriers, a statement from the country’s maritime affairs ministry said, as Islamabad’s tensions with New Delhi continue to surge following a deadly attack on tourists. 

The move came hours after India announced on Saturday it had banned the import of goods coming from or transiting via Pakistan and barred Pakistani ships. 

Both nations have taken a raft of measures against each other since Apr. 22, when gunmen killed 26 tourists in Indian-administered Kashmir. New Delhi pinned the blame on Islamabad, an accusation that Pakistan has vehemently denied and called for a transparent, international probe into the incident. 

Pakistan’s maritime affairs ministry said its decision to ban Indian ships from Pakistani ports has been taken to “safeguard maritime sovereignty, economic interest and national security.”

“Indian Flag Carriers shall not be allowed to visit any Pakistani port,” the statement said. “Pakistani Flag Carriers shall not visit any Indian Port. Any exemption or dispensation shall be examined and decided on case to case basis,” it added.

Trade between India and Pakistan has dwindled over the last few years. India announced on Saturday that it was banning Pakistani ships to ensure the safety of its assets, cargo and connected infrastructure, in the public interest and in the interest of the Indian shipping industry.

Both countries have been trading fire at the Line of Control frontier in Kashmir, which acts as a de facto border between India and Pakistan, for the last 10 days as per international media reports. 

Since gaining independence from British colonial India in 1947, India and Pakistan have fought two out of three wars over the disputed Himalayan region of Kashmir. Both countries claim it in full but administer only parts of it. 

The US, China, UK, Saudi Arabia, Turkiye, Iran and several other nations have called on both nuclear-armed neighbors recently to de-escalate tensions and avoid a military standoff. 

Pakistan has vowed it would issue a “strong” response if the Indian military attacks. India’s PM Narendra Modi this week gave his country’s military “operational freedom” to respond to the Apr. 22 attack.


Pakistan stocks hit another all-time high as optimism prevails over worker remittances

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Pakistan stocks hit another all-time high as optimism prevails over worker remittances

  • Pakistan recorded an inflow of $3.6 billion in Dec., with officials expecting remittances to exceed $40 billion this fiscal year
  • ENGROH, PPL, SAZEW, OGDC and PSO collectively added 661 points as the benchmark KSE-100 index rose by 860 points

ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a another all-time high as it crossed 188,000 points on Tuesday, amid hopes of strong remittance inflows and budget relief linked to the International Monetary Fund (IMF) talks.

Pakistan recorded an inflow of $3.6 billion in December, with Saudi Arabia emerging as the largest contributor. Pakistani officials expect remittances to exceed $40 billion this fiscal year.

On Tuesday, the benchmark KSE-100 index gained 860.09 points, or 0.46 percent, to close at 188,621.78 points, up from the previous close of 187,761.69 points, according to PSX data.

Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News the market witnessed bullish activity amid speculation of the earnings season.

“FM (finance minister) expectations for $41 billion remittances in FY26, and expectations over renegotiation of IMF deal for relief in federal budget played a catalyst role in the record close at PSX,” he said.

Pakistan is currently navigating a long path to economic recovery under a $7 billion Extended Fund Facility (EFF) approved in Sept. 2024, which has seen Islamabad take several reforms, including privatization of loss-making state entities.

Meanwhile, Pakistani market research firm Topline Securities said in its daily review that the upward momentum at PSX was driven by buying from local mutual funds.

“Additionally, SAZEW [Sazgar Engineering Works Limited] notified that it will commence bookings for its CKD [Completely Knocked Down models] — ‘TANK-500 Hi4-T 4x4 2.0L Turbo AT PHEV and HEV’ — starting Monday, January 26, 2026,” Topline Securities Senior Equity Trader Naveed Nadeem said.

CKD means the cars are assembled locally from imported parts.

Engro Holdings Limited (ENGROH), Pakistan Petroleum Limited (PPL), SAZEW, Oil & Gas Development Company Limited (OGDC), and Pakistan State Oil (PSO) collectively added 661 points to the index, according to the research firm.

It said a total of 1,222 million shares were traded at a value of $227.86 million (Rs63.8 billion) on Tuesday, with Hascol Petroleum Limited topping the volume chart by trading 113 million shares.