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ISLAMABAD: Chief of Army Staff Field Marshal Asim Munir on Friday described the country’s strategic partnership with China as “pivotal” for regional peace and stability, as he highlighted the strength of bilateral ties that have endured despite shifting global geopolitics.

The army chief was speaking at an event held at Pakistan’s military headquarters in Rawalpindi to mark the 98th founding anniversary of China’s People’s Liberation Army (PLA). The ceremony was also attended by Chinese Ambassador Jiang Zaidong, PLA Defense Attaché Major General Wang Zhong and senior military officials from both countries.

Munir’s statement comes weeks after India’s Deputy Army Chief, Lt. Gen. Rahul Singh, claimed China had provided Pakistan with “live inputs” during a brief but intense four-day military conflict with India in May. Pakistan’s Defense Minister

Khawaja Asif, however, told Arab News prior to that that the outcome of the conflict was a “victory” that was entirely “Made in Pakistan.”

“The Field Marshal highlighted that the Pakistan-China strategic relationship exemplifies mutual trust, unwavering support and shared commitment,” the military’s media wing, Inter-Services Public Relations, said in a statement circulated after the event. “He stressed that despite shifting strategic dynamics, the friendship between the two nations has remained steadfast and unshakable.”

“He [also] emphasized that their enduring partnership will continue to play a pivotal role in promoting regional stability and safeguarding shared strategic interests,” the statement added.

The army chief also praised the PLA for its role in China’s defense, security and nation-building.

He described Pakistan and China as “true brothers-in-arms” whose bond remains “unique, time-tested and exceptionally resilient.”

The Chinese ambassador thanked the Pakistan Army for hosting the ceremony and reaffirmed Beijing’s commitment to the strategic partnership.

He also acknowledged Pakistan’s armed forces for their role in counterterrorism.

Pakistan and China are long-standing allies and partners in the multibillion-dollar China-Pakistan Economic Corridor (CPEC), a flagship project under China’s Belt and Road Initiative (BRI).

The corridor provides China with direct access to the Arabian Sea via Pakistan’s Gwadar Port, while enabling Pakistan to modernize infrastructure and expand regional trade links.

ISLAMABAD: The Pakistan Stock Exchange (PSX) hit an all-time high on Friday, surpassing the 141,000-point mark, with analysts attributing the surge to the US trade tariff deal that helped boost investor confidence.

The KSE-100 index rose by 1,644.56 points or 1.18 percent to close at an all-time high of 141,034.98, up from the previous close of 139,390.42.

Pakistan and the US finalized a trade deal this week, under which the US will charge a 19 percent tariff on imports and also support the development of Pakistan’s oil reserves.

“US trade tariff deal at 19 percent is giving an edge over regional peers, and cut in fuel prices to ease inflation played a catalyst role in bullish activity at PSX,” Ahsan Mehanti, CEO of Arif Habib Commodities, said.

He noted that stocks also closed at an all-time high as investors reacted to the Consumer Price Index, which stood at 4.1 percent year-on-year for July.

Sana Tawfiq, Head of Research at Arif Habib Limited, also agreed the bullish momentum witnessed in the market was mainly driven by the trade deal finalized between Pakistan and the US.

“But I think more than the tariff, the key aspect of the deal was the talk of investment,” she said. “If we look at it in a broader context, there is potential for significant investments.”

In its market review on Friday, Topline Securities, a leading brokerage facility, said the KSE-100 Index increased by 1.3 percent week-on-week.

“During the start of the week, the market remained largely range-bound as investors closely watched June quarter result announcements,” it said. “However, during the latter part of the week, the market returned to its positive course, where news of the trade deal with the US garnered investor interest back into the market.”

Reacting to the market sentiment, Prime Minister Shehbaz Sharif described the bullish trend as a reflection of “investor confidence in government policies” in a statement.

“Facilitating business and investment remains among this administration’s top priorities,” he said, adding that the country’s economy was on the right trajectory and moving toward growth.