Pakistan stocks post 2.5% weekly gain as IMF talks fuel investor confidence

KARACHI: A prominent Pakistani religio-political party held pro-Palestine protests outside the American diplomatic missions in major cities on Friday, condemning Washington’s support for Israel’s recent military actions in Gaza.
Israeli airstrikes have killed over 500 Palestinians, with more than half of them women and children, since Tuesday, according to Palestinian health authorities in Gaza.
The renewed escalation is a blow to the ceasefire agreement reached between Israel and Hamas on Jan. 15, following more than a year of Israeli airstrikes that flattened much of Gaza’s infrastructure, including schools, hospitals and residential neighborhoods.
Around 48,000 Palestinians in Gaza were killed during the 15-month war that began in October 2023.
Reacting to the development, Jamaat-e-Islami (JI) Pakistan decided to bring out pro-Palestine rallies, with its chief Hafiz Naeem-ur-Rahman addressing his followers in Lahore to highlight the gravity of the situation.
“People are on the streets showing solidarity with their Palestinian brothers, sisters and children,” he said. “This is the month of Ramadan, and the calamity happening during this month is a shameful reality for humanity.”

Rahman condemned the “relentless bombardment” in Gaza that has led to the death of hundreds of people and caused widespread destruction in the area.
“If there is any power behind Israel’s terrorism and the genocide of Palestinians, it is the power of America,” he said. “This is why America is complicit in the bloodshed of Palestinians, supporting Israel and Netanyahu.”
He criticized the international community’s inaction and the perceived complacency of Muslim rulers, questioning the silence of their armies and the continuation of trade with the US and Israel.
“All these people share equal responsibility for the blood of Palestinians,” he declared.

The JI chief demanded the government to clarify how a group of Pakistani journalists recently managed to travel to Israel.
“Reports are circulating on social media about Pakistani journalists traveling to Israel,” he said. “The government should present its stance on this matter. If a deal is made with the Zionists and the blood of Palestinians traded, the nation will turn these rulers into an example for others.”
Pakistan does not recognize Israel and explicitly states this on its passport. The foreign office said this week it was seeking more information about the reported visit of the Pakistani delegation while ruling out any possibility of recognizing Israel.

In Karachi, JI’s city head, Munim Zafar Khan, led a protest outside the US Consulate, where he reiterated the importance of protecting Jerusalem by framing it as a matter of faith.
“The people of Gaza remain steadfast despite the devastation Israel has inflicted upon them,” he said. “With faith in Allah and perseverance, no worldly power can defeat you.”
Khan echoed Rahman’s criticism of Muslim rulers, accusing them of being “meek before America” and failing to protect the Palestinian people.
He also praised young people around the world for showing solidarity with Palestine and highlighted the resilience of the Gazan people, who are observing Ramadan under dire conditions.

PESHAWAR: The Pakistani Taliban killed at least five police officers and wounded six others in multiple attacks in the country’s northwest, police said Friday.
There were at least five separate attacks across Khyber Pakhtunkhwa province, a police official told AFP on condition of anonymity.
The killings were claimed by the Pakistani Taliban — known as Tehreek-e-Taliban Pakistan (TTP) — which in mid-March announced a “spring campaign” against the security forces.
The group has since claimed responsibility for more than 80 attacks in Khyber Pakhtunkhwa, a mountainous province along the porous Afghan border.
Qasim Ali, police chief in the provincial capital Peshawar, said “there has been a noticeable rise in attacks on the police” recently.
Such incidents are a daily occurrence in the region, where the military regularly says it kills “terrorists.”
Ali reported attacks against police in nine district over just two days since TTP announced its offensive, saying the force has responded with more counterterrorism operations.
More than 170 people, mostly security personnel, have been killed in militant attacks against the state in Khyber Pakhtunkhwa and neighboring Balochistan province since the beginning of this year, according to an AFP tally.
Balochistan saw a dramatic train siege this month which officials said resulted in around 60 deaths, half of which were separatists behind the assault.
Last year was the deadliest year in almost a decade, with more than 1,600 people killed in attacks in Pakistan — nearly half of them security forces personnel — according to the Islamabad-based Center for Research and Security Studies.
The violence is largely limited to Pakistan’s border regions with Afghanistan.
Islamabad accuses Kabul of failing to counter militants operating from its territory that are targeting Pakistan, an allegation the Taliban authorities deny.