Moroccan, Egyptian stalls shine at Islamabad food fundraiser featuring 80 diplomatic missions

Organizers stand at the Egyptian stall in a food festival organized by Islamabad Foreign Women’s Association, in Islamabad on May 25, 2025. (AN Photo)
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Updated 25 May 2025
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Moroccan, Egyptian stalls shine at Islamabad food fundraiser featuring 80 diplomatic missions

  • Islamabad Foreign Women’s Association in collaboration with Serana Hotels holds international food festival for third consecutive year 
  • IFWA is a non-political, non-profit organization established in 1995 by the wives of ambassadors posted in the Pakistani federal capital 

ISLAMABAD: The Islamabad Foreign Women’s Association (IFWA) organized a food festival in the Pakistani capital on Sunday featuring cuisines from at least 28 countries and raising over Rs.2.5 million ($8,929) to support education and health care initiatives for poor Pakistani women and children.

The festival, organized for the third consecutive year, was a joint project of IFWA and Serena Hotels, with 80 diplomatic missions participating. IFWA is a non-political, non-profit organization established in 1995 by the wives of ambassadors posted in Islamabad, with the aim of supporting underprivileged and disadvantaged Pakistani women and children. 

Dianne Hawkins, IFWA president and the wife of the Australian High Commissioner, told Arab News around Rs2.5 million had been raised at Sunday’s event. 

“It is our major fundraising event of the year to support the charities that IFWA supports here [in Pakistan], which are mostly focused on benefiting vulnerable communities of Pakistani society, especially women and children,” Hawkins said, adding that most of the charities IFWA supported were in the education and health sectors.

Aziz Bolani, the CEO Serena Hotels, said that along with supporting underprivileged communities, the event also helped promote international cuisines and cultures through food stalls that represented countries from all around the world.

“There are real needs in Pakistan, and this is a form of diplomacy, a soft approach that brings people together,” he told Arab News.

Among the most popular stalls were those set up by the embassies of Morocco and Egypt. 

“Today, we are serving Moroccan chicken, Moroccan salads, and one of the main traditional dishes of Morocco, that is typically served every Friday, couscous with vegetables,” Moroccan Ambassador Mohamed Karmoune told Arab News. 

Homemade Moroccan breads and sweets as well as traditional tea was also available. 

Georg Steiner, the ambassador of Switzerland to Pakistan, said he hoped the festival would introduce more Pakistanis to Swiss food.

“We brought along some Swiss food like Rösti [potato dish], Zürich style veal, and also some excellent cakes,” he told Arab News.

He said he had tasted food at many stalls and his favorites were those serving Vietnamese, Czech, and Pakistani dishes. 

“I think Pakistani food is always wonderful, be it biryani or something else,” the Swiss envoy added.


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

Updated 18 December 2025
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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.