ISLAMABAD: Pakistan will hold delayed elections in January next year, the election commission announced Thursday, as the country grapples with overlapping political, economic and security crises.
A caretaker government has been ruling Pakistan since parliament was dissolved on August 9, days after the country’s most popular politician, former prime minister Imran Khan, was imprisoned for graft and barred from contesting elections.
Polls were supposed to have taken place within 90 days, but the election commission said it needed more time to redraw constituencies following the latest population census.
“The final list of constituencies will be published on November 30. After that, the elections will be held in the last week of January 2024, after a 54-day election program,” the commission said in a statement.
One political analyst suggested the date may not be set in stone.
“The announcement of a date is a positive and significant sign, however Pakistani politics is so unstable that one can’t predict what will happen after three months,” Hasan Askari Rizvi told AFP.
“But all the sufferings of the common people due to inflation and price hikes will have a direct bearing — provided all parties are allowed to campaign and contest elections,” he added.
Earlier this month, the Human Rights Commission of Pakistan said it was concerned about the scope for institutions to manipulate the electoral process.
“The delimitation of constituencies must also be completed quickly and efficiently and under no circumstances used as an excuse to delay the elections any further,” it said in a statement.
“Apart from ensuring that free, fair and credible elections take place, the test of the current caretaker government is to see not only whether it will protect and respect people’s right to protest peacefully, but also whether it will respond to the issues that ordinary citizens are mobilizing around.”
Khan’s ouster as prime minister in April last year sparked months of political drama, with a defiant campaign against the powerful military culminating in a major crackdown on his Pakistan Tehreek-e-Insaf party.
The country is struggling through a biting economic downturn, with business leaders crying out for authorities to bring political stability to the cash-strapped nation which has seen a record devaluation of the rupee and soaring inflation.
Pakistan has also witnessed a dramatic spike in militant attacks, mainly in its border regions with Afghanistan, after the Taliban returned to power in 2021.
Analysts say Islamist fighters have been emboldened by the neighboring insurgency’s success.
The first half of 2023 saw a nearly 80 percent spike in attacks compared to last year, according to the Pakistan Institute for Conflict and Security Studies.
Pakistan national election to be held end January 2024
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Pakistan national election to be held end January 2024
- Polls were due in November but were delayed by due to fresh marking of constituencies
- Election regulator says final list of new constituencies will be published by November 30
Pakistani firms sign $13 million contracts at first Pakistan-Bahrain investment summit
- Around 25 Pakistani companies, over 125 delegates took part in day-long summit on May 17
- Pakistani companies represented IT, stock exchange, tourism and other sectors, says organizer
ISLAMABAD: Pakistani companies signed contracts worth over $13 million related to various investment projects at the first edition of the Pakistan-Bahrain Investment Summit last week, the chief organizer of the event said on Monday.
The day-long event titled ‘Pakistan-Bahrain Investment Opportunities Summit and Smart Expo,’ organized by the Pakistan Association of Exhibition Industry (PAEI) with the Pakistani embassy in Bahrain, was held in Manama on May 17.
Over 125 Pakistani delegates showcased investment-ready projects across various sectors, attracting strong interest from the overseas Pakistani community and business leaders from Bahrain.
“The event was truly remarkable, featuring 25 Pakistani companies and more than 125 delegates where in just one day, contracts worth $13 million were signed across various investment projects in different sectors,” Mohammad Khurshid Barlas, PAEI founder, told Arab News over the phone from Bahrain.
“This figure is expected to increase further as many leads generated during the event are currently in follow-up stages and likely to mature soon,” he added.
Barlas said the participating Pakistani companies and delegates represented various sectors such as information technology, stock exchange, tourism, human resource services and real estate.
“Throughout the day the event was attended by more than 20,000 delegates from the Pakistani community and business leaders and representatives from Bahrain,” Barlas disclosed.
During the summit, he said discussions focused on a wide range of topics including the stock exchange, capital markets, overseas employment, real estate and tourism.
“The event is expected to significantly boost trade with Bahrain and attract further investment into Pakistan,” Barlas said.
Pakistan’s Ambassador to Bahrain Saqib Rauf said the event marks the beginning of “a promising series of engagements we plan to organize in Bahrain.”
“We are in continuous dialogue with the business communities of both countries and envision future events to focus on specific sectors of mutual interest,” he said.
“Our goal is to foster synergies between businesses and deepen trade and investment ties, paving the way for a stronger and more dynamic partnership between our nations.”
Zahid Latif Khan, chairman of ZLK Islamic Financial Services, a premier brokerage and financial services provider at the Pakistan Stock Exchange, said the event provided an excellent opportunity to engage with businesses from across the Middle East.
“People in the region are viewing Pakistan from a very positive perspective as we witnessed a renewed sense of hope and enthusiasm for doing business and trade with Pakistan,” Khan told Arab News.
Latif said he also highlighted the vast potential of the Pakistan Stock Exchange, which drew strong interest from business leaders in Bahrain.
“As the founder of the first Islamic brokerage house in Pakistan, I met with representatives from Bahrain’s Central Bank who were also present at the conference and their response was very encouraging, and I look forward to exploring further opportunities,” Latif added.
According to Pakistan’s foreign office, Pakistan’s trade with Bahrain ranges between $500 million and $1 billion. Major exports include meat, vegetables, rice, tobacco and textiles.
Imports from Bahrain include petroleum and its products, ferrous waste, scrap and aluminum.
The investment summit takes place amid Islamabad’s efforts to increase foreign trade and investment with its allies, especially the Gulf estates, as it hopes to recover from an economic crisis.
Pakistan formed the Special Investment Facilitation Council (SIFC) in June 2023 to attract international investment in key economic sectors such as mines, minerals, agriculture, livestock and tourism.
Pakistan stock market sees ‘slower’ activity as investors remain cautious before budget
- KSE-100 index surges 40.49 points or by 0.03 percent to reach 119,689.63 points
- Pakistan is set to unveil its federal budget for the upcoming fiscal year 2025–26 in June
ISLAMABAD: The Pakistan Stock Exchange (PSX) surged by only 0.03 percent when trading ended on Monday, with a financial analyst attributing it to “slower trading activity” as investors remain cautious ahead of the upcoming federal budget to be announced by the government.
Pakistan’s federal budget for the next fiscal year, starting July, will be finalized within the next three weeks. Pakistan’s scheduled budget talks with the International Monetary Fund (IMF), which began on May 14 are scheduled to take place till May 23, the finance ministry had said.
The KSE-100 index surged by 40.49 points or 0.03 percent to reach 119,689.63 points when the market closed at 4 p.m. on Monday, data from the Pakistan Stock Exchange (PSX) said.
“The KSE100 has started the week on a muted note, which is reflecting in slower trading activity,” Raza Jafri, head of Intermarket Securities, told Arab News.
“It is possible that investors are waiting for the FY26 Budget, expected in early June, before they become more active.”
Pakistan’s stock market suffered an upheaval triggered by the most intense military row between Pakistan and India in years earlier this month. The two nuclear-armed nations agreed to a US-brokered ceasefire on May 10 after pounding each other with missiles, drones, artillery and fighter jets for four days.
The crisis triggered a 12 percent decline in the Pakistani stock market from April 23 till May 8.
However, the market recovered nearly all of its losses last week, climbing more than 3,500 points.
Fire erupts in Islamabad’s Margalla Hills, containment efforts underway
- The blaze erupted near Saidpur Darra, Jungle Number 15 and Rumli areas
- Over 70 firefighters are participating in the operation to put out the blaze
ISLAMABAD: A wildfire erupted in the Margalla Hills in the Pakistani capital of Islamabad on Monday, the Islamabad district administration said, with efforts underway to put out the blaze.
The Margalla range, part of the Himalayan foothills, often experiences bushfires in the summer months. Last year, several incidents of forest fire were reported at the hills as various parts of the country remained in the grip of intense heatwaves.
On Monday, a fire broke out near Saidpur Darra, Jungle Number 15 and Rumli areas on the hills, prompting an immediate response from the Capital Development Authority’s (CDA) fire brigade and officials of the district administration.
“More than 70 firefighters are participating in the operation to control the fire,” the district administration said in a statement.
“The fire was brought under control once, but it broke out again.”
No casualties or property damage have been reported in the wake of the fire, according to authorities.
The cause of the fire has yet to be determined.
“The fire will be brought under control again soon,” the district administration added.
Death toll from IED blast in Pakistan’s southwest rises to four
- Pakistan has been battling a separatist insurgency in Balochistan for decades
- The attack comes days after four paramilitary troops were killed in the province
QUETTA: At least four people have been killed and 12 others wounded in a bomb blast in Pakistan’s turbulent southwestern province of Balochistan, a security official said Monday.
An improvised explosive device (IED) was planted in a parked car in Killa Abdullah district of Balochistan, less than 100 kilometers (60 miles) from the provincial capital of Quetta.
“It seems the IED exploded before reaching its intended destination,” a local security official, Ghulab Khan, told AFP.
“All those killed are civilian passersby,” he added.
Riaz Khan Dawar, a senior local government official, confirmed the details to AFP, adding the explosion took place close to a paramilitary compound on Sunday evening.
Pakistan has been battling a separatist insurgency in Balochistan for decades, where militants target state forces, foreign nationals, and non-locals in the mineral-rich southwestern province bordering Afghanistan and Iran.
The attack came days after four paramilitary troops were killed in the province.
The Baloch Liberation Army (BLA) is the most active group in the region and often carries out deadly attacks against security forces, but the local chapter of Daesh and the Pakistani Taliban have also claimed recent attacks.
Pakistan has witnessed a sharp rise in violence in its regions bordering Afghanistan since the Taliban returned to power in Kabul in 2021, with Islamabad accusing its western neighbor of allowing its soil to be used for attacks against Pakistan — a claim the Taliban deny.
In Balochistan, separatist violence has intensified, including a March attack by ethnic Baloch militants on a train carrying 450 passengers, which sparked a two-day siege and left dozens dead.
More than 241 people, mostly security officials, have been killed in attacks since the start of the year by armed groups fighting the government in both Khyber Pakhtunkhwa and Balochistan, according to an AFP tally.
‘Brothers forever’: Pakistani military acknowledges Saudi role in truce with India
- Pakistan and India this month traded missile, drone and artillery strikes over an attack in Indian-administered Kashmir
- The conflict alarmed world leaders and friendly nations, with a Saudi minister traveling to New Delhi and Islamabad
ISLAMABAD: Pakistan’s military spokesman, Lt. Gen. Ahmed Sharif Chaudhry, has acknowledged Saudi Arabia’s role in helping secure a ceasefire with India, after the nuclear-armed neighbors exchanged heavy cross-border fire this month.
India on May 7 launched a series of strikes across the Line of Control — the de facto border that separates the Indian-controlled and Pakistani-controlled parts of Kashmir. It also hit other sites on the Pakistani mainland, targeting what it claimed were militant positions.
Pakistan retaliated with strikes on Indian military targets before the ceasefire took effect on May 10, following efforts by world powers and friendly nations, including Saudi Arabia, to quickly de-escalate the conflict.
The Kingdom’s role in mediation was “very positive and wonderful,” Lt. Gen. Chaudhry told Arab News.
Pakistan and India have fought multiple wars since their independence from British rule in 1947. Two of the wars were over the disputed region of Kashmir, which both claim in full but rule in part.
The recent escalation came days after New Delhi blamed Pakistan for a deadly attack on tourists in Indian-administered Kashmir — Islamabad denied any involvement.
As the neighbors exchanged fire, Saudi Minister of State for Foreign Affairs Adel Al-Jubeir visited both New Delhi and Islamabad. The May 10 truce was reached shortly afterward.
Saudi Arabia and Pakistan share close diplomatic and strategic relations, and the Kingdom has provided significant support to Pakistan during its prolonged economic challenges in recent years.
“The bond between the people of Pakistan and the people of Saudi Arabia is very strong, and we in the armed forces have a very close bond with the Kingdom of Saudi Arabia. And this is a relationship that is based on respect,” Lt. Gen. Chaudhry said.
“Saudis are our brothers, brothers forever.”
