Pakistan PM condemns Indian strikes on civilians, praises Saudi push for de-escalation

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Pakistan Prime Minister Shehbaz Sharif (right) meets Saudi Minister of State for Foreign Affairs Adel Al-Jubeir in Islamabad, Pakistan, on May 9, 2025. (Government of Pakistan)
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Pakistan's Deputy Prime Minister Ishaq Dar (right) receives Saudi Minister of State for Foreign Affairs Adel Al-Jubeir in Islamabad, Pakistan, on May 9, 2025. (Ministry of Foreign Affairs)
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Updated 09 May 2025
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Pakistan PM condemns Indian strikes on civilians, praises Saudi push for de-escalation

  • Shehbaz Sharif tells Adel Al-Jubeir Pakistan is determined to defend its sovereignty against India
  • The Saudi minister calls for peaceful resolution of issues between the South Asian nuclear states

KARACHI: Prime Minister Shehbaz Sharif on Friday condemned India’s missile and drone strikes against Pakistan that killed civilians this week while appreciating Saudi diplomatic efforts to de-escalate tensions with its nuclear neighbor in a meeting with the Kingdom’s Minister of State for Foreign Affairs Adel Al-Jubeir.

The Saudi minister’s daylong visit follows India’s military strikes inside Pakistan in response to a gun attack in the disputed Kashmir region that left 26 tourists dead, with New Delhi blaming Islamabad for the incident, though Pakistani authorities have repeatedly denied any involvement.

With the two archrivals teetering on the edge of a full-scale war, the United States announced on Thursday that Secretary of State Marco Rubio had discussed regional de-escalation with Saudi officials.

The same day, Al-Jubeir made a surprise stop in New Delhi for talks with Indian officials before arriving in Pakistan on Friday.

“While discussing the prevailing situation in South Asia [with the visiting dignitary], the Prime Minister strongly condemned India’s missile and drone strikes against Pakistan that had resulted in the martyrdom of scores of innocent civilians, including women and children, as well as damage to civilian infrastructures,” said a statement issued by his office after the meeting.

“He said Pakistan was fully determined to defend its sovereignty and territorial integrity, in accordance with Article 51 of the UN Charter,” it added. “He appreciated the Kingdom’s diplomatic efforts to de-escalate the situation and bring peace in the region.”

Sharif conveyed warm regards to Salman bin Abdulaziz and Crown Prince Mohammed bin Salman and expressed satisfaction at the positive trajectory of Pakistan-Saudi relations.

He also maintained that India’s “unprovoked and unjustified acts of aggression” had violated Pakistan’s sovereignty and territorial integrity and seriously endangered regional peace and stability. 

The statement said Al-Jubeir offered condolences over the loss of civilian lives and said the Kingdom was “deeply concerned” about the current situation in South Asia.

He reiterated Saudi Arabia’s call for de-escalation and the peaceful resolution of disputes between Pakistan and India in accordance with international law.

Saudi Arabia and Pakistan share close diplomatic and strategic relations.

The Kingdom has extended significant support to Pakistan during prolonged economic challenges faced by Islamabad in recent years, including external financing and assistance with International Monetary Fund (IMF) loan programs.

Saudi Arabia has also contributed to global peacemaking efforts by hosting talks and mediating prisoner exchanges between Russia and Ukraine.


Pakistan stocks close at record high over current account surplus, falling bond yields

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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.