On SCO summit sidelines, Pakistan and Turkiye vow to back Palestinian rights

In this photo released by the Press Information Department, Pakistan Prime Minister Shehbaz Sharif shakes hand with Turkish President Tayyip Erdogan prior to their meeting on the sidelines of Shanghai Cooperation Organization (SCO) Summit, in Tianjin, China on August 31, 2025. (PID)
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Updated 31 August 2025
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On SCO summit sidelines, Pakistan and Turkiye vow to back Palestinian rights

  • The statement came after Prime Minister Shehbaz Sharif’s meeting with Turkish President Recep Tayyip Erdogan in China
  • The meeting took place on the sidelines of a summit of SCO, which China presents as counterweight to Western-led blocs

ISLAMABAD: Pakistan and Turkiye have condemned Israel’s “genocidal” policies in Gaza and vowed to advocate for Palestinian rights at all international platforms, the Pakistani prime minister’s office said on Sunday.

The statement came after Prime Minister Shehbaz Sharif’s meeting with Turkish President Recep Tayyip Erdogan in Tianjin, China on the sidelines of a meeting of the Shanghai Cooperation Organization’s (SCO) Council of Heads of State (CHS).

Israel’s war on Gaza has killed more than 62,000 people, including children, doctors, health workers and journalists, since Oct. 2023, according to Gaza health authorities and the United Nations.

The United Nations (UN) this month warned of crimes against humanity and reported “catastrophic levels of forced starvation” in the territory, with more than two million people at risk of famine.

“The two sides exchanged views on key regional and international developments,” Sharif’s office said in a statement after his meeting with Erdogan.

“They expressed grave concern over the worsening humanitarian situation in Gaza and reaffirmed their shared commitment to using international platforms to advocate for the legitimate rights of the Palestinian people and to condemn the ongoing Israeli aggression and genocidal policies.”

The two figures reviewed the current state of Pakistan-Turkiye relations and expressed satisfaction over the growing momentum in bilateral ties, according to the statement. They noted with appreciation the steady increase in high-level exchanges and cooperation across a broad spectrum, including political, economic, defense, and security domains.

“The meeting reaffirmed the deep-rooted brotherly ties between Pakistan and Türkiye and underscored their shared resolve to further strengthen cooperation for peace, stability, and prosperity in the Muslim world and beyond,” Sharif’s office said.

Sharif, who is on a six-day visit to China, will also be addressing the SCO summit which is being attended by more than 20 foreign leaders, including Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.

Pakistan’s foreign office earlier said that Sharif’s meetings with President Xi Jinping and Premier Li Qiang during the visit will focus on multifaceted dimensions of Pakistan-China bilateral cooperation.


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

  • Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
  • Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity

ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said. 

Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday. 

The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.

Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday. 

“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.

An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.

However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days. 

Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.

The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.

Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.

Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.