Pakistan stocks cross 154,000 mark as PM’s China visit, flood reconstruction lift outlook

Pakistan stocks cross 154,000 mark as PM’s China visit, flood reconstruction lift outlook
Stock brokers monitor share prices on computers during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on February 12, 2024. (AFP/File)
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Pakistan stocks cross 154,000 mark as PM’s China visit, flood reconstruction lift outlook

Pakistan stocks cross 154,000 mark as PM’s China visit, flood reconstruction lift outlook
  • KSE-100 index rose by 1,611.47 points, or 1.06 percent, to close at an all-time high of 154,277.19
  • Analysts say resolving the US tariff issue and easing tensions with India also supported the market

KARACHI: The Pakistan Stock Exchange crossed the 154,000 mark on Friday, with analysts citing trade deals from Prime Minister Shehbaz Sharif’s China visit and expectations of higher cement sales from post-flood reconstruction as reasons behind the bullish trend.

The KSE-100 index rose by 1,611.47 points, or 1.06 percent, to close at 154,277.19, compared to the previous close of 152,665.72.

Jibran Sarfaraz, a stocks dealer at Munir Khanani Securities, said Pakistan’s opportunity to boost exports through lower tariffs compared to neighboring countries has contributed to the market’s upward trajectory.

“Then came the floods, which, being a natural disaster, caused significant losses especially as crops were destroyed,” he told Arab News.

“At the same time, the positive side is that reconstruction will create higher demand for steel and cement, boosting their sales,” he continued.

“The Pakistani PM’s visit to China has raised expectations of further trade between both the countries, and on the international stage, Pakistan’s profile has been elevated.”

Sarfaraz added that resolving tariff issues with the US and easing tensions with India have also helped the market gain momentum in recent weeks.

“After that, we saw the market continue to grow, with strong performances from the banking, steel, pharma and textile sectors,” he added.

Meanwhile, Ahsan Mehanti, CEO of Arif Habib Commodities, attributed the market’s performance to the government’s approval for resuming subsidies on fully funded remittances to support rupee stability.

These subsidies refer to reimbursements to banks and exchange companies on eligible inward remittances, making it possible for them to offer nominal or no fees to senders while covering their own costs.

He also mentioned another factor for the market surge, involving the energy regulator, NEPRA, possible cuts to industrial electricity tariffs that can bring down production costs.

“Nepra hints over negative industrial tariff adjustments, speculations over government resolve to settle power sector circular debt crises played catalyst role in bullish close at PSX,” he said.

Pakistan and China signed 21 memorandums of understanding and joint ventures worth $4.2 billion to boost business cooperation in various sectors during Sharif’s visit this week.

At the same time, floods have devastated Punjab, Pakistan’s most populous province, killing 49 people so far and destroying large areas of cropland.


Pakistan’s northwestern province pledges assistance for injured Afghans after quake kills over 2,200

Pakistan’s northwestern province pledges assistance for injured Afghans after quake kills over 2,200
Updated 05 September 2025

Pakistan’s northwestern province pledges assistance for injured Afghans after quake kills over 2,200

Pakistan’s northwestern province pledges assistance for injured Afghans after quake kills over 2,200
  • Chief Minister Ali Amin Gandapur visits Afghan consulate, orders delivery of tents, medical supplies
  • Eastern Afghanistan has been hit by multiple strong aftershocks, fueling fear among border residents

PESHAWAR: The provincial administration of Pakistan’s northwestern Khyber Pakhtunkhwa province, which borders Afghanistan, said on Friday it would provide full assistance to injured Afghans following a devastating earthquake that flattened entire settlements and killed about 2,200 people in the neighboring country on Tuesday.

A powerful magnitude-6.0 quake struck eastern Afghanistan’s Kunar province near the Pakistan border, causing widespread destruction across five provinces and collapsing thousands of homes.

Since then, a number of aftershocks have rattled the region, intensifying fears among residents of further destruction.

Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur visited the Afghan consulate in Peshawar on Friday, expressing sorrow over the loss of life and signing the condolence book.

“The provincial administration will provide every possible assistance to the affected,” he said according to a statement issued by the KP government.

At the request of the Afghan consul general, the chief minister directed that an additional 1,000 tents and medicines be sent for the affected people.

“Those injured who come to Peshawar for treatment should be provided with every possible facility,” he added.

The Afghan consul general thanked Gandapur “for the wholehearted assistance to the victims,” according to the statement.

Khyber Pakhtunkhwa and Afghanistan share deep cultural roots, with Pashtun tribes straddling both sides of the porous frontier.

The province has also seen a spike in militant attacks, which Pakistani authorities attribute to cross-border militancy emanating from radical groups sheltering in Afghanistan, a claim that Kabul denies.

While Islamabad adopted a tough posture toward Afghanistan after string of deadly suicide attacks and launched a deportation campaign targeting Afghan refugees in 2023, local media reports suggest the Khyber Pakhtunkhwa administration has advocated for more constructive engagement with the Taliban regime amid ongoing security and humanitarian challenges.


Pakistan deputy PM pledges support for Palestinians, urges ceasefire and aid access

Pakistan deputy PM pledges support for Palestinians, urges ceasefire and aid access
Updated 05 September 2025

Pakistan deputy PM pledges support for Palestinians, urges ceasefire and aid access

Pakistan deputy PM pledges support for Palestinians, urges ceasefire and aid access
  • Visiting Palestinian delegation led by Mahmoud Al-Habbash meets DPM Ishaq Dar in Islamabad
  • Pakistan reiterates support for two-state solution on pre-1967 borders with Al-Quds as capital

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar on Friday reaffirmed Islamabad’s support for the people of Palestine, rejecting Israeli “aggression and war crimes” and urging a permanent ceasefire and unhindered humanitarian access to Gaza.

Dar made the remarks during a meeting with a four-member Palestinian delegation led by Mahmoud Al-Habbash, presidential adviser and supreme judge, who is visiting Pakistan to attend a religious conference marking the Prophet’s birth, the foreign office said in a statement.

“[Dar] reaffirmed Pakistan’s unwavering solidarity with the Palestinian people and their just struggle for freedom, dignity & statehood,” according to the statement.

He also “firmly rejected Israeli aggression and war crimes: genocide, starvation, man-made famine, mass killings, settlements, annexations and forced displacement.”

The deputy prime minister called for a permanent and unconditional ceasefire and unhindered humanitarian aid for the besieged enclave, the statement added.

Pakistan, which does nor recognize Israel, has long backed the establishment of an independent, sovereign and contiguous Palestinian state based on pre-1967 borders with Al-Quds Al-Sharif (East Jerusalem) as its capital, calling its support a legal, moral and religious duty.

The Palestinian delegation’s visit comes amid continuing Israeli strikes in Gaza and mounting international criticism of the humanitarian toll.

According to Gaza health officials, over 64,000 Palestinians have been killed since the war began in October 2023, while the United Nations has warned of acute food shortages and mass displacement across the enclave.

The Integrated Food Security Phase Classification (IPC) system said last month Gaza City was officially in famine, with hunger spreading.

Around 514,000 people — close to a quarter of Palestinians in Gaza — are experiencing famine, with the number due to rise to 641,000 by the end of September, IPC said.

It was the first time the hunger monitor has recorded famine outside of Africa.


Pakistan says ‘we decide who stays,’ after UN plea over Afghans

Pakistan says ‘we decide who stays,’ after UN plea over Afghans
Updated 05 September 2025

Pakistan says ‘we decide who stays,’ after UN plea over Afghans

Pakistan says ‘we decide who stays,’ after UN plea over Afghans
  • The UN plea to stop mass expulsions came after a major earthquake hit Afghanistan
  • World Health Organization says 270,000 returnees had settled in the quake-hit area

ISLAMABAD: Pakistan’s government on Friday said “we decide who stays,” after the United Nations refugee chief urged the country to pause its mass expulsion of Afghans after a major earthquake.

Thousands of Afghans who were registered as refugees have surged over the border from Pakistan in recent days, with returns escalating despite a weekend earthquake that killed 2,200 people and flattened entire villages in Afghanistan.

It prompted a call by Filippo Grandi, the UN High Commissioner for Refugees: “Given the circumstances, I appeal to the (government of Pakistan) to pause the implementation of the Illegal Foreigners Repatriation Plan.”

Pakistan has hosted Afghans fleeing violence and humanitarian crises for more than four decades, from the Soviet invasion to the 2021 Taliban takeover.

“Any people with no documentation should leave. This is what Pakistan is doing and what any other country will be doing, including in Europe and other countries... it is our territory, we decide who stays in,” Shafqat Ali Khan, the foreign ministry spokesperson told a press briefing.

The World Health Organization estimated 270,000 returnees have recently settled in the earthquake affected districts which border Pakistan.

Afghans awaiting relocation to Germany have reported several police raids on guest houses where German authorities have asked them to stay for months on end while their cases are processed.

Many of those living in the quake-hit villages in eastern Afghanistan were among the more than four million Afghans forced back to the country from Iran and Pakistan in recent years.

Various cohorts of Afghans have found differing degrees of stability, including access to work and education, in Pakistan.

Some were born and raised there, while others transited en route to resettlement in the West.

However, Pakistan’s government, citing an uptick in violent attacks and insurgent campaigns, launched a crackdown in 2023 to evict them, painting the population as “terrorists and criminals.”

More than 1.2 million Afghans have since been forced to return from Pakistan, including more than 443,000 this year alone, according to the United Nations.

The crackdown has most recently targeted an estimated 1.3 million refugees with Proof of Registration (PoR) cards issued by the UN refugee agency UNHCR.

Islamabad has set a deadline of September 1 for them to leave or face arrest and deportation.


At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion

At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion
Updated 05 September 2025

At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion

At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion
  • The development comes as Israeli troops operate in parts of Gaza City to take over all of it
  • Sharif, who was in China this week, held talks with Chinese leadership, oversaw several deals

ISLAMABAD: Pakistan condemned Israel’s ongoing military offensive against the Palestinians and called for an immediate ceasefire in Gaza at the Shanghai Cooperation Organization’s (SCO) heads of state meeting in China this week, the Pakistani foreign office said on Friday, with Prime Minister Shehbaz Sharif reaffirming his support for the next phase of the China-Pakistan Economic Corridor (CPEC).

Israeli troops have lately been operating in parts of Gaza City as they plan to take over all of the most populous Palestinian city that is home to around a million people many of whom have already been displaced multiple times.

On Thursday, Israeli strikes killed 28 people as the death toll from Israel’s two-year war rose to 64,000, according to Palestinian health officials. Last month, the Integrated Food Security Phase Classification (IPC) system said Gaza City was officially in famine, with around 514,000 people experiencing it.

Pakistan, which does not have diplomatic relations with Israel, has consistently condemned Israel’s war on Gaza, called for an uninterrupted flow of humanitarian aid into Palestinian territory and the establishment of an independent, sovereign and contiguous

Palestinian state based on pre-1967 borders with East Jerusalem as its capital.

“At the SCO CHS summit, the Prime Minister Sharif presented Pakistan’s perspective on pressing regional and global issues, highlighting strategies to strengthen SCO’s role in fostering regional cooperation and stability,” Shafqat Ali Khan, a Pakistani foreign office spokesman, said at a weekly press briefing in Islamabad.

“The prime minister unequivocally denounced Israel’s inhuman military offensive against Gaza and called for an immediate and unconditional ceasefire.”

The foreign office spokesman said PM Sharif, during his visit to China to attend the SCO summit, held meetings with Chinese President Xi Jinping and Premier Li Qiang, and appreciated Beijing’s support to Pakistan’s socio-economic development.

“He lauded the significance of China-Pakistan Economic Corridor as a flagship project of President Xi Jinping’s Belt and Road Initiative, and reaffirmed the desire to continue working closely with China for the successful implementation of the next phase of upgraded CPEC with its five new corridors,” Khan said.

“This would help both countries to build an even stronger Pakistan-China community with a shared future.”

China is a key strategic ally of Pakistan, with Beijing pouring in tens of billions in energy and infrastructure development projects in the South Asian country under CPEC.

The second phase of CPEC focuses on growth, livelihood and innovation, and reinforcement of Pakistan’s national development framework centered on ‘5 Es,’ representing exports, e-Pakistan, energy, environment and equity.

On Thursday, both countries also signed 21 memorandums of understanding and joint ventures worth $4.2 billion to enhance business-to-business (B2B) cooperation in diverse areas, Pakistani state media reported.


Pakistan targets $600 million in seafood exports with China partnerships, aquaculture push

Pakistan targets $600 million in seafood exports with China partnerships, aquaculture push
Updated 05 September 2025

Pakistan targets $600 million in seafood exports with China partnerships, aquaculture push

Pakistan targets $600 million in seafood exports with China partnerships, aquaculture push
  • Minister says Pakistan ranked third globally in mud crab exports, seeks wider seafood markets
  • Exporters eye Chinese investment, new tech to expand aquaculture, frozen and freeze-dried foods

KARACHI: Pakistan has set a seafood export target of $600 million for the financial year 2025–26, the maritime affairs ministry said on Friday, as officials and exporters held talks with Chinese partners in Beijing this week to scale up aquaculture and frozen food ventures.

The fisheries sector earned $465 million in FY 2024–25, according to government data, with China the country’s biggest buyer. Officials say new memorandums of understanding and business-to-business deals signed with Chinese companies are central to lifting production and establishing Pakistan as a regional seafood hub.

“Pakistan aims to reach $600 million in seafood exports in the upcoming financial year,” Federal Maritime Affairs Minister Junaid Anwar Chaudhry was quoted as saying in a statement by his office after he met exporters in China, stressing that memorandums of understanding and business-to-business agreements would be central to boosting fisheries and establishing the country as a regional hub.

“Pakistan ranks as the third-largest global exporter of mud crabs, shipping over 3,000 tons of live mud crabs to China, its biggest importer,” he added.

Exporters said aquaculture collaboration with Chinese firms was key to accessing distant markets. 

Tariq Memon, international sales manager at Arabian Sea Products, was quoted in the maritime ministry statement as saying his company was developing holding systems to cultivate and preserve live mud crabs and lobsters. 

“This initiative, in partnership with Chinese firms, seeks to extend the survival time of live seafood to two or three weeks, enabling access to distant markets such as China,” he said.

Memon emphasized that success would hinge on technology transfer, investment, and aquaculture expertise from Chinese partners.

Pakistani companies also proposed joint ventures to expand beyond seafood. 

Saeed Ahmed Fareed, CEO of Legend International (Pvt) Ltd, said his Karachi-based firm, which operates a 65,000-square-foot processing facility with a daily capacity of 40 tons, was seeking Chinese collaboration in value-added frozen seafood and poultry products such as chicken feet. The company already holds approval from China’s General Administration of Customs (GACC).

“Collaboration would help both parties reduce costs, gain economies of scale, and broaden export reach to the US, Europe, and regional markets,” Fareed explained.

Other exporters, including Ali Reimoo of Karim Impex, said they were exploring opportunities in China and neighboring regions.

Beyond seafood, exporters highlighted the untapped potential of freeze-drying technology, widely used across Asia for fruit and vegetable exports. 

Asif Muhammad Ali Shah, director of Perfect Food Industries, said countries such as Thailand, Vietnam and China had established strong markets, but Pakistan lacked such facilities despite international demand for mango, guava, falsa, okra and bitter melon.

“Although countries like Thailand, Vietnam, and China supply freeze-dried fruits and vegetables, Pakistan lacks such facilities despite strong international demand,” Shah said, pointing to high equipment costs and lengthy processing times. 

He added that international buyers were ready to commit to annual contracts if local capacity was built, particularly for diaspora communities and niche markets abroad.

Minister Chaudhry said investments in cold chain infrastructure and freezing technologies had already laid the groundwork for future seafood-specific freeze-drying plants. 

“Current infrastructure and market trends indicate promising potential for growth in this sector in the near future,” he added.