ISLAMABAD: Egyptian President Abdel Fattah El-Sisi has accepted an invitation to visit Pakistan, Prime Minister Shehbaz Sharif said on Tuesday, following a telephonic conversation between the two leaders.
Pakistan and Egypt have cordial ties and both countries have resolved in recent years to enhance bilateral trade by facilitating businessmen with visas, exchanging trade-related information and promoting private-sector contacts.
During their conversation, PM Sharif conveyed his profound gratitude to President El-Sisi for Egypt’s constructive role and proactive diplomacy that helped Pakistan and India reach a truce after a four-day standoff.
“Expressing satisfaction on Pakistan-Egypt relations, the prime minister highlighted the need to enhance bilateral trade and investment,” Sharif’s office said.
“The prime minister extended a most cordial invitation to the Egyptian president to undertake an official visit to Pakistan which was graciously accepted.”
Friendly ties between Pakistan and Egypt can be traced back to 1947, when the former gained independence and its founder, Muhammad Ali Jinnah, visited Egypt on the special invitation of King Fuad II.
In July last year, Pakistan’s then religious affairs minister Chaudhry Salik Hussain and Egyptian Ambassador to Pakistan Dr. Ihab Abdelhamid Hassan agreed to enhance cooperation between the two countries in religious education and other areas of mutual interest.
During the call on Tuesday, PM Sharif and President El-Sisi also discussed developments in the Middle East, particularly the situation in Gaza.
“The prime minister urged the international community to ensure consistent and timely delivery of badly needed humanitarian assistance to the people of Gaza,” Sharif’s office said.
Egyptian president has accepted invitation for official visit to Pakistan — PM Sharif
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Egyptian president has accepted invitation for official visit to Pakistan — PM Sharif
- Pakistan and Egypt have cordial relations and both countries have resolved in recent years to enhance their bilateral trade
- PM thanks President El-Sisi for Egypt’s proactive diplomacy that helped Pakistan, India reach a truce after this month’s standoff
Pakistan stock market crosses record 174,000 points during intraday trading
- Pakistan Finance Adviser Khurram Schehzad says stock market’s equity investor base has increased by over 120,000 in last 18 months
- Official says stock market’s record levels reflect growing investor confidence supported by continued macro stability and key reforms
ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed a record 174,000 points on Monday, Finance Adviser Khurram Schehzad said, marking a strong start to the business week.
According to the data available on the PSX’s official website, the KSE-100 benchmark reported 174,411.72 points during the intraday trading on Monday morning.
“Another milestone for Pakistan’s equity market,” Schehzad wrote on social media platform X. “The KSE-100 Index has crossed 174,400 points, marking yet another record high.”
Pointing out the stock market’s achievements this year, Schehzad said the PSX has delivered 50 percent plus returns in US dollar terms to investors since January this year, “making it one of the best markets in Asia.”
He noted that investors’ participation in the PSX is rising fast, adding that the equity investor base has increased by over 120,000 to cross the 450,000 figure in the last 18 months, marking a 37 percent increase.
“These record levels reflect growing investor confidence, supported by continued macro stability, key reforms, and improving prospects for more sustainable, higher future growth,” he said.
Pakistan’s stocks have surged in recent years, marking a strong performance this year as Islamabad moves to consolidate its financial recovery after years of economic turbulence, which saw it on the verge of a sovereign default in June 2023.
Pakistan’s foreign exchange reserves have surged past the $21 billion mark, as per the central bank’s latest data.
In recent years, the South Asian country has also implemented tough structural reforms under the International Monetary Fund (IMF) loan programs, aimed at reducing fiscal deficits and restoring investor confidence.
