PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points

PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points
A man uses a mobile phone as he takes a photo of the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan on November 28, 2023. (REUTERS/File)
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Updated 20 March 2025
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PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points

PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points
  • KSE-100 index soared by over 1,400 points after trading commenced, hitting an all-time high of 119,421.81
  • Shehbaz Sharif says his government is trying to ensure conducive business and investment environment

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday lauded the Pakistan Stock Exchange (PSX) for surpassing the significant 119,000-point threshold for the first time, saying the market’s bullish opening session mirrored growing investor confidence.​
The benchmark KSE-100 index soared by over 1,400 points shortly after trading commenced, reaching an all-time high of 119,421.81 points.
The market rally coincides with Sharif’s four-day visit to Saudi Arabia, where he met separately with Crown Prince Mohammed bin Salman and Investment Minister Khalid Al-Falih to discuss strengthening economic cooperation.​
“The positive trajectory in the Pakistan Stock Exchange signifies the increasing trust of traders and investors in the government’s economic policies,” the prime minister said in a statement issued by his office from Jeddah.
“The government is providing all necessary facilities on a priority basis to ensure a conducive environment for business and investment in the country,” he added.
Earlier this month, an International Monetary Fund (IMF) team concluded its review of Pakistan’s economic reforms under a $7 billion loan program.
The international lender described Pakistan’s progress as “strong,” though its mission departed without finalizing the staff-level agreement.
The IMF’s positive assessment, nevertheless, led to bullish sentiment in the market, despite recent upticks in militant violence.​
The ongoing PSX session saw the KSE-100 index dip below its earlier high, trading at 118,526.63 points at the time of filing this report.


Pakistan to restore train services from Quetta this week after deadly hijacking

Pakistan to restore train services from Quetta this week after deadly hijacking
Updated 26 March 2025
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Pakistan to restore train services from Quetta this week after deadly hijacking

Pakistan to restore train services from Quetta this week after deadly hijacking
  • 31 soldiers, staff and civilians killed as BLA separatists hijacked Jaffar Express train in Balochistan earlier this month
  • BLA is largest and strongest of several ethnic Baloch groups fighting for decades to win independence for Balochistan

QUETTA: Pakistan Minister for Railways Hanif Abbasi said on Wednesday train operations from Quetta Railway station in the southwestern Balochistan province would be fully restored from Mar. 28 while Jaffar Express, the victim of a deadly hijacking by militants earlier this month, would resume services to Peshawar from tomorrow, Thursday. 

The separatist Baloch Liberation Army claimed responsibility for the Mar. 12 attack on the Jaffar Express, during which they blew up train tracks and held passengers hostage in a day-long standoff with security services in a remote mountain pass. The death toll included 31 soldiers, staff and civilians.

Addressing a news conference in Quetta, Abbasi said Jaffar Express would depart for the northwestern city of Peshawar tomorrow, Thursday, but full-scale train services from Quetta would be restored on Mar. 28.

“Although we don’t have enough strength of Railway Police Forces, many stations require fencing and other security equipment,” he told reporters, admitting that railways facilities in the province faced security challenges. 

“We are recruiting 500 soldiers in the Pakistan Railway Police and 70 percent of the recruitment would be for Balochistan,” the minister added. “We have planned new security strategies with the frontier corps and other law enforcing agencies.” 

He also announced a special Eid train from Quetta Railway station with fool-proof security for passengers. 

“We are very much optimistic about better security to the railway’s passengers in Balochistan,” Abbasi said.

“We have repaired all damaged carriages of the attacked Jaffar Express, and new rack of carriages would be included in the train operations from Balochistan.” 

The BLA is the largest and strongest of several ethnic Baloch insurgent groups which have been fighting for decades to win independence for the mineral-rich province, home to major China-led projects including a port and gold and copper mines.
 


Pakistan court sentences five men to death for ‘blasphemous content’ — lawyer

 Pakistan court sentences five men to death for ‘blasphemous content’ — lawyer
Updated 26 March 2025
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Pakistan court sentences five men to death for ‘blasphemous content’ — lawyer

 Pakistan court sentences five men to death for ‘blasphemous content’ — lawyer
  • Pakistan has witnessed a sharp increase in the prosecution of “online blasphemy” cases
  • Vigilante groups bring charges against hundreds of individuals for committing blasphemy

ISLAMABAD: A Pakistan court has sentenced five men to death for posting “blasphemous content online,” a prosecution lawyer told AFP on Wednesday.
Pakistan has witnessed a sharp increase in the prosecution of “online blasphemy” cases, with private vigilante groups bringing charges against hundreds of young individuals for allegedly committing blasphemy.
“All five accused were sentenced to death for spreading blasphemous content against the holy Prophet,” a lawyer from the Legal Commission on Blasphemy Pakistan, a private group which brought the case to court, told AFP.
“Separately all were sentenced to life imprisonment for Qur'an’s desecration and 10 years imprisonment for hurting religious sentiments,” lawyer Rao Abdur Raheem said.
The five men — one Afghan and four Pakistanis — were sentenced on Tuesday in Rawalpindi, the garrison city that neighbors the capital Islamabad.
The sentences will run concurrently, Raheem said.
Blasphemy is an incendiary charge in the Muslim-majority country, where even unsubstantiated accusations can incite public outrage and lead to lynchings.
The convicts have a right to appeal in the upper courts.


Pakistan economy grew 1.73 percent in 2nd quarter, government says

Pakistan economy grew 1.73 percent in 2nd quarter, government says
Updated 26 March 2025
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Pakistan economy grew 1.73 percent in 2nd quarter, government says

Pakistan economy grew 1.73 percent in 2nd quarter, government says
  • National Accounts Committee says first quarter real GDP estimate revised up to 1.34 percent due to higher-than expected growth in services sector
  • Announcement came just hours after IMF staff reached deal with Pakistan for new $1.3 billion financing and praised country’s macroeconomic stability

ISLAMABAD, March 26 : Pakistan’s government said on Wednesday the country’s provisional GDP growth rate was 1.73 percent in the second quarter of the current financial year ending on June 30 and upgraded its estimate for the previous quarter.
The government National Accounts Committee said in a statement that Pakistan had revised the first quarter real GDP estimate up to 1.34 percent from earlier estimates of 0.92 percent due to higher-than expected growth in the services sector.
The announcement came just hours after International Monetary Fund staff reached a deal with Pakistan for new $1.3 billion financing and praised the country’s progress on boosting macroeconomic stability.
The country’s central bank in March said its full-year GDP growth target was at 2.5 percent to 3.5 percent and said it expected economic activity to gain further momentum. (Reporting by Charlotte Greenfield Editing by Tomasz Janowski)


Pakistan and Saudi Arabia discuss expansion of Makkah Route Initiative for Hajj pilgrims

Pakistan and Saudi Arabia discuss expansion of Makkah Route Initiative for Hajj pilgrims
Updated 26 March 2025
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Pakistan and Saudi Arabia discuss expansion of Makkah Route Initiative for Hajj pilgrims

Pakistan and Saudi Arabia discuss expansion of Makkah Route Initiative for Hajj pilgrims
  • The initiative streamlines immigration by allowing pilgrims to complete travel formalities at departure airports
  • Pakistan’s religious affairs minister praises the Kingdom for focusing on the welfare of his country’s pilgrims

ISLAMABAD: Pakistan’s religious affairs minister Sardar Muhammad Yousaf on Wednesday discussed expanding the Makkah Route Initiative to more Pakistani cities with Saudi Minister of Hajj Dr. Tawfiq bin Fawzan Al-Rabiah while praising the Kingdom for its continued focus on the welfare of Pakistani pilgrims, according to an official statement.
The Makkah Route Initiative is designed to streamline immigration processes by enabling pilgrims to complete official travel formalities at their departure airports. Initially tested in Islamabad in 2019, the program was later expanded to Karachi, benefitting tens of thousands of Pakistani travelers.
“Federal Minister for Religious Affairs and Interfaith Harmony Sardar Muhammad Yousaf met with Saudi Minister of Hajj and Umrah Dr. Tawfiq bin Fawzan Al-Rabiah,” Pakistan’s religious affairs ministry said in a statement. “The meeting included discussions on enhancing facilities for Hajj pilgrims and Umrah visitors, as well as expanding the scope of the Makkah Route Initiative to other cities in Pakistan.”

Pakistan’s religious affairs minister Sardar Muhammad Yousaf second from left) in conversation with Saudi Minister of Hajj Dr. Tawfiq bin Fawzan Al-Rabiah (right) in Jeddah, Saudi Arabia on 26 March, 2025. (Press release) 

The Pakistani minister said pilgrims from his country had greatly benefited from the special attention given by the Saudi authorities.
Dr. Al-Rabiah congratulated Sardar Yousaf on assuming charge of the religious affairs ministry and reiterated the Kingdom’s commitment to serving pilgrims.
“It is an honor to welcome large numbers of pilgrims from Pakistan each year,” he said, adding that “serving Hajj and Umrah pilgrims remains one of the Saudi government’s top priorities.”
The ministers also discussed issues related to the registration process for Pakistani pilgrims.
Dr. Al-Rabiah assured the concerns of Pakistani Hajj applicants would be addressed on a priority basis, adding the Saudi authorities had introduced several new measures this year to improve services for pilgrims.
 


Pakistan reviews preparations for nationwide polio campaign as six cases confirmed for 2025

Pakistan reviews preparations for nationwide polio campaign as six cases confirmed for 2025
Updated 26 March 2025
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Pakistan reviews preparations for nationwide polio campaign as six cases confirmed for 2025

Pakistan reviews preparations for nationwide polio campaign as six cases confirmed for 2025
  • Next vaccine drives scheduled to be held in April and May
  • Pakistan saw a surge in cases last year with 74 confirmations

ISLAMABAD: Pakistan’s national polio management team on Wednesday reviewed preparations for a nationwide polio vaccination campaign set to be held in April and May as the country reported six new cases in 2025 and 74 last year. 
Polio is a crippling disease with no cure and multiple doses of the oral polio vaccine, along with timely completion of routine immunization for children under five, are essential to building protection against the virus.
The government has planned several nationwide immunization campaigns in 2025 to address immunity gaps after a surge in cases last year. 
“Prime Minister’s focal person for Polio Eradication Ayesha Raza Farooq emphasized making the April and May campaigns more effective to stop the spread of the virus,” the National Emergency Operations Center (NEOC) said on Wednesday.

Pakistan Prime Minister’s Focal Person for Polio Eradication Ayesha Raza Farooq (center) and National Emergency Operations Center Coordinator Muhammad Anwarul Haq (left) hold review meeting at the NEOC center in Islamabad on March 25, 2025. (Handout/NEOC)

“She said no child should be left unvaccinated in the upcoming polio campaign.”
Pakistan’s polio eradication program was launched in 1994, but progress has been hindered by persistent vaccine misinformation and resistance from conservative clerics who view immunization as part of a foreign conspiracy. 
Polio vaccinators have also faced targeted violence from militants in many regions of the country.