Success of Khan-backed candidates in Pakistan polls forces rivals to resign from party positions, quit politics

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Updated 12 February 2024
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Success of Khan-backed candidates in Pakistan polls forces rivals to resign from party positions, quit politics

  • Khan’s party was severely hamstrung ahead of Feb. 8 polls, with rallies banned, party symbol taken away and candidacies rejected
  • But the party came out swinging in last Thursday’s national election in which independent candidates loyal to Khan led the race

KARACHI/Islamabad: The success of former prime minister Imran Khan-backed independent candidates has forced two of his rivals to resign from their party posts and another to publicly give up his provincial assembly seat in an extraordinary turn of events in Pakistani politics after last week’s national election.

Khan’s Pakistan Tehreek-e-Insaf (PTI) party was severely hamstrung ahead of the February 8 polls, with rallies banned, its party symbol taken away, and dozens of its candidates rejected from eligibility to stand.

Despite facing what it says was a state-backed crackdown, the PTI asked its candidates to contest the election as independents, who stunned observers by winning 101 parliamentary seats in an election marred by rigging allegations.

On Monday, Jahangir Tareen, once one of Khan’s closest aides who later deserted him and formed his own party to challenge the former premier, announced his resignation as chairman of the Istehkam-e-Pakistan Party (IPP), saying he respected the “will of the people of Pakistan.” The statement was widely seen as an admission that he had failed to pose a challenge to Khan’s popularity.

“I would like to thank everyone who supported me in this election and want to offer my congratulations to my opponents,” Tareen said on X. “I have immense respect for the will of the people of Pakistan. Therefore, I have decided to resign from my position as Chairman IPP and step away from politics altogether.”

Tareen’s IPP, which was formed by former Khan affiliates, could only secure two seats in parliament in Thursday’s vote.

Separately, Siraj-ul-Haq, the chief of a major religious political party, the Jamaat-e-Islami, stepped down from his post after his party failed to secure even a single seat in parliament.

“Despite hard work and efforts, [I] could not get success [to the party],” Haq said on X. “I have resigned from the leadership of Jamaat-e-Islami, while accepting the responsibility of defeat in election.”

Haq’s party derived much of its support from Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, where Khan-backed candidates swept the polls by winning 90 out of 112 provincial seats. The PTI ruled the province from 2023 to Jan. 2023.

Khan, who has been in jail since August last year after he was convicted in a case involving the illegal sale of state gifts, accuses Pakistan’s powerful military of sidelining him and his party from politics. The military denies Khan’s accusations and says it does not interfere in political matters.

His PTI and other political parties staged protests over the weekend and on Monday in various parts of the country over alleged rigging in the elections, especially over the fact that final results were not out even two days after polling closed. The party has challenged election results in several constituencies as the ECP denies rigging allegations.

In another significant development on Monday, Naeem-ur-Rehman, who heads the Karachi chapter of the JI religious party, announced he was forfeiting a Sindh provincial assembly seat after winning it in the election, alleging that a Khan-backed opposing candidate had secured more votes than him, but was denied victory due to “rigging.”

According to official results, Rehman won the PS-129 seat in the southern port city of Karachi after securing 26,926 votes, while the Muttahida Quami Movement-Pakistan (MQM-P) candidate, Maaz Muqadam, secured 26,296 votes. The PTI-backed independent candidate Saif Bari polled 11,357 votes.

“The independent candidate supported by the PTI has got more votes than me,” Rehman said in a presser. “I have the grace to announce that PTI’s independent candidate has won and I will not avail this seat. I promised this nation, my party promised this nation, that we do not want even a single additional vote.”

PTI leader Khurrum Sher Zaman, the PTI’s Karachi president, said Rehman’s move endorsed his party’s stance that its “mandate has been snatched.”

Senior Karachi-based analyst and political commentator Nadia Naqi lauded Rehman, saying that by taking such a decision, he had “exposed both the Election Commission of Pakistan and the decision-makers.”

“He is an honest man and has taken the right decision,” Naqi told Arab News.

Veteran political commentator and journalist Mazhar Abbas said Rehman had set a “great example.”

“This, by Hafiz Naeem, is a principled stand, and we need such decisions to establish good traditions,” he said. “This raises serious questions about the election process, during which they allegedly went to great lengths to reduce the seats of a popular party,” Abbas noted, without elaborating who he meant by “they.”


Pakistan stocks record single-day gain, bonds rally after ceasefire with India, IMF tranche approval

Updated 5 sec ago
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Pakistan stocks record single-day gain, bonds rally after ceasefire with India, IMF tranche approval

  • Pakistan and India last week traded air, ground and drone strikes, leading to aggressive selloffs by investors
  • On Monday, Pakistani rupee marked first gain since the start of May as Pakistan’s dollar bonds rose 5.7 cents

KARACHI: Pakistan’s stocks rose more than 9 percent, the highest single-day gain in decades, and its international bonds rallied on Monday, analysts said, following a ceasefire with India and the approval of $1 billion tranche by the International Monetary Fund (IMF).
The Pakistan Stock Exchange (PSX) suffered losses in the last three sessions since India struck multiple Pakistani cities with missiles on Wednesday. Pakistan responded with fighter jet, drone and artillery strikes and four days of conflict between the two sides came to a halt on Saturday evening after the United States announced a surprise ceasefire.
On Monday, the benchmark KSE-100 index rose by 9.45 percent, or 10,123 points, to close at 117, 297 points, compared to Friday’s close of 107,174 points. The country’s currency and international bonds also surged, paring their losses since tensions rose with India over an attack in Indian-administered Kashmir on April 22.
“The highest single-day gain in almost three decades comes after the ceasefire announcement of India and Pakistan,” Shankar Talreja, head of research at Karachi-based Topline Securities brokerage firm, told Arab News.
The KSE-30 index, which includes the top 30 most liquid companies, increased about 9.7 percent during the intraday trade, forcing the bourse to halt trading at 9:37am Pakistan time for an hour.
The geopolitical tensions had led to aggressive selloffs and fueled widespread investor concerns at the bourse which lost more than 12 percent between April 22 and May 8.
Monday’s rally triggered the upper circuit breaker for the second time in the PSX’s history since July 2023, according to Adnan Sami Sheikh, an analyst at Pakistan Qatar Investment Company Ltd. The otherwise risk-averse investors went on a buying frenzy primarily on the back of a US-brokered ceasefire agreement between India and Pakistan.
“Local individual investors who had been net sellers in the recent past were aggressive buyers,” Talreja said, adding that according to Bloomberg-compiled data, PSX had become the world’s third best performing stock index over the last one year.
The other factor behind Monday’s rally was the IMF’s approval of $1.4 billion loan to Pakistan under its climate resilience fund, and the release of a $1 billion as part of the country’s $7 billion bailout program secured in Sept. last year, taking the total disbursements under the program to $2.1 billion, according to analysts.
The much-awaited inflows will boost the cash-strapped nation’s foreign exchange reserves, which Islamabad seeks to increase to $14 billion by June. The IMF, which the once-near-default Islamabad has visited frequently in recent years, wants Pakistan to hold enough dollars for at least three months of imports.
PAKISTANI RUPEE AND BONDS
Pakistan’s currency marked the first gain in the last seven sessions this month and rose 0.1 percent, with the US dollar closing at Rs281.57, according to the State Bank of Pakistan.
The rupee had devalued 0.3 percent since last month, when Pakistan’s now-de-escalating border tensions with India had first resurfaced.
The South Asian nation’s global bonds also rallied sharply and rose as much as 5.7 cents globally, Reuters news agency reported, citing Tradeweb data. Most of the bond maturities have clawed back the losses sustained since April 22.
“The investors are now perceiving lower country risk premium for Pakistan,” Talreja added.
Commenting on the developments, Pakistan’s finance adviser Khurram Schehzad said the South Asian nation has much more to offer.
He said positives like the IMF board’s approval, declining interest rate, spillover effect of a potential settlement of the US-China tariff issue, and Pakistan’s “measured and responsible” response in terms of narrative and the actions on ground against India have caught the attention of investors.
“Renewed investor confidence...enhanced IMF funding and support, renewed regional investor interest, one of the lowest inflation rates and stable currency parities in the region all position Pakistan for a more meaningful economic upside moving forward,” he said.


Four killed in car, gas tanker collision in Pakistan’s northwest

Updated 46 min 4 sec ago
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Four killed in car, gas tanker collision in Pakistan’s northwest

  • Road accidents are common in Pakistan, where highways and roads are poorly maintained and traffic laws are widely ignored
  • Last month, a speeding truck carrying laborers, women and children fell into a ravine in Sindh, killing at least 13 people

ISLAMABAD: At least four people were killed on Monday when a car collided with a gas tanker in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, the provincial rescue service said.
The collision took place in Daraban area of KP’s Dera Ismail Khan district and the deceased included a nine-year-old child, according to a Rescue 1122 spokesperson.
The cause of the accident could not be immediately known.
“Bodies of all those killed were shifted to hospital,” the spokesperson said. “All deceased person hailed from Darazanda tehsil.”
Road accidents are common in Pakistan, where highways and roads are poorly maintained and traffic laws are widely ignored.
Last month, a speeding truck carrying laborers, women and children fell into a ravine in the southern Sindh province, killing at least 13 people and injuring 20 others, police said.
In Dec., at least 18 passengers were killed in two separate road crashes in Pakistan’s eastern Punjab and southern Sindh provinces, authorities said.


Pakistani textile industrialists expect Trump to cut export tariffs after India ceasefire

Updated 12 May 2025
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Pakistani textile industrialists expect Trump to cut export tariffs after India ceasefire

  • President Donald Trump said he will “substantially” increase trade with Pakistan and India after the US brokered a ceasefire between both nations
  • Pakistan industrialists say they support Washington’s efforts and remain committed to promoting peace through Pakistan-US trade-led engagement

KARACHI: Pakistani textile mill owners on Monday expressed their hopes that United States (US) President Donald Trump will reduce tariffs on Pakistan’s exports, in line with his announcement to “substantially” increase trade with Pakistan and India following a ceasefire between the two nations.
Trump’s announcement came a day after Washington brokered the ceasefire after four days of fighter jet, missile, drone and artillery strikes by India and Pakistan against the other, leaving nearly 70 people dead on both sides.
The US president has imposed a 10 percent baseline tariff on all imports to the US and higher duties on dozens of countries. Pakistan faces a 29 percent tariff due to a trade surplus with the US of about $3 billion, though the US last month announced a 90-day pause in reciprocal tariffs.
The All-Pakistan Textile Mills Association (APTMA) said Trump’s message was an “encouraging signal” for the future of US-Pakistan economic engagement, especially in the textile sector that serves as the backbone of Pakistan’s export economy.
“His statement is a timely recognition of the crucial role trade can play in this regard. The US remains Pakistan’s largest export destination, with textiles accounting for nearly 80 percent of total exports to the American market. Additionally, Pakistan is the second-largest importer of US cotton and has taken proactive steps to increase cotton imports in response to concerns over the trade imbalance,” APTMA said.
“In line with these increased imports, we expect the US to reduce existing and proposed tariffs on Pakistan’s exports, thereby enhancing market access and unlocking greater trade opportunities.”
Trump said on Sunday he would try to work with both India and Pakistan to see if they can resolve their dispute over Kashmir, which had been divided between India and Pakistan but claimed in full by both.
The two countries have fought two of their three wars over the region, while last week’s military conflict between them was also triggered by a militant attack in Indian-administered Kashmir that killed 26 tourists on April 22.
“While not even discussed, I am going to increase trade, substantially, with both of these great Nations,” Trump wrote on his social media platform, Truth Social, referring to India and Pakistan.
“Additionally, I will work with you both to see if, after a ‘thousand years,’ a solution can be arrived at concerning Kashmir,” he added.
APTMA said it supports international efforts, particularly those led by the US, aimed at fostering lasting peace in South Asia, including the resolution of long-standing disputes through dialogue and mutual understanding.
“We recognize that economic cooperation and regional stability are deeply interconnected and remain committed to promoting peace through trade-led engagement,” it said.
“Building on this momentum, we look forward to strengthening a resilient and mutually beneficial US-Pakistan trade partnership, grounded in respect, national sovereignty, and shared economic goals.”


Indian army says talks with Pakistan’s military operations chief delayed

Updated 12 May 2025
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Indian army says talks with Pakistan’s military operations chief delayed

  • There were no reports of explosions or projectiles overnight, with Indian army saying Sunday was first peaceful night in recent days
  • Before ceasefire on Saturday, Pakistan and India had fought with missiles and drones during four days of intense confrontation last week 

ISLAMABAD: India and Pakistan have delayed until Monday evening talks between their military operations chiefs to discuss the next steps after a ceasefire, the Indian army said, as New Delhi reopened airports and shares rose in the nuclear-armed rivals.

A fragile 48-hour-old truce appeared to be holding on Monday after both sides blamed the other for initial violations on Saturday night, hours after the US-brokered deal was first announced. There were no reports of explosions or projectiles overnight, after some initial ceasefire violations, with the Indian Army saying Sunday was the first peaceful night in recent days along their de facto Line of Control border.

Saturday’s ceasefire followed four days of intense fighting with drones and missiles and gun fire exchanges across the Line of Control that divides the disputed Kashmir valley into parts administered by India and Pakistan. Dozens were reported killed. 

The Indian army said on Monday both sides’ director generals of military operations would speak by telephone in the evening, a delay from an initial timing of noon (0630 GMT), but gave no reason.

“In spite of some minor damage, all our military bases and systems continue to remain fully operational,” India’s director general of air operations, Air Marshal A.K. Bharti, told a media briefing.

A day earlier, Lt. Gen. Rajiv Ghai, the director general of military operations, said India’s armed forces struck nine militant infrastructure and training facilities, including sites of the Lashkar-e-Taiba group that India blames for carrying out major militant strikes in India and the disputed region of Kashmir.

At a televised news conference on Sunday, Pakistan military spokesman Lt. Gen. Ahmad Sharif Chaudhry said Pakistan’s armed forces targeted a total of 26 Indian military installations in response to India’s missile strikes which were launched before dawn Wednesday.

He said the military had vowed it would respond to the Indian aggression, and it has fulfilled its commitment to the nation. Sharif warned that any threat to Pakistan’s sovereignty or territorial integrity would be met with a “comprehensive, retributive, and decisive” response.

He said Pakistan exercised “maximum restraint” during the counterstrike, employing medium-range missiles and other munitions, and that no civilian areas were targeted inside India.

MARKETS INCH UP

Pakistan halted trading on Monday for an hour after its benchmark share index rose nearly 9 percent, having recovered most of its losses in the past three sessions after India’s first strikes last Wednesday. 

Late on Friday, the International Monetary Fund approved a fresh $1.4-billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion program.

Pakistan’s benchmark share index closed up 9.4 percent on Monday, while India’s blue-chip Nifty 50 index closed 3.8 percent higher in its best session since February 2021.

Before the ceasefire took hold on Saturday, the arch rivals had targeted each other’s military installations with missiles and drones, as relations turned sour after India blamed Pakistan for a militant attack that killed 26 tourists on Apr. 22. Pakistan denies the accusations and has called for a neutral investigation.

Saturday’s truce was first announced by US President Donald Trump. US officials also said the two nations had agreed to hold talks on a broad set of issues at a neutral site though no date has been announced yet. 

Kashmir has been a bone of contention between the two countries since independence from British colonial rule in 1947. Both countries claim the Muslim-majority region in full but govern only parts of it. They have fought two of their three wars since 1947 over the disputed territory. 

Islamabad has thanked Washington for facilitating Saturday’s ceasefire and welcomed Trump’s offer to mediate on the Kashmir dispute with India but New Delhi has not commented on US involvement in the truce or talks at a neutral site.

- With inputs from Reuters


Normalcy slowly returns to Azad Kashmir as ceasefire holds

Updated 12 May 2025
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Normalcy slowly returns to Azad Kashmir as ceasefire holds

  • India and Pakistan agreed to a ceasefire on Saturday after exchanging drone, artillery and missile attacks
  • Residents return to homes near contested border in Azad Kashmir but remain skeptical of lasting peace

CHAKOTHI, AZAD KASHMIR: Shops began reopening in Azad Kashmir on Sunday (May 11) after India and Pakistan agreed to a ceasefire along their contested border, but residents expressed doubts about how long the peace would last without a political solution to the decades-old Kashmir dispute.

The border town of Chakothi, which had borne the brunt of recent cross-border shelling, showed tentative signs of normalcy as shopkeepers returned to assess damage and restart businesses. Many residents who had fled the violence remained hesitant to return.

“We’ll restart business but it will take time,” said Shabbir Abbasi, a shopkeeper and head of the local traders’ union. “People won’t come back until there’s a proper ceasefire agreement.”

The nuclear-armed neighbors agreed to stop cross-border firing in Kashmir, but locals said temporary truces were not enough.

“The Kashmir issue must be resolved now if they want real peace,” Abbasi told Reuters.

Some residents welcomed the pause in violence but remained skeptical. 

“A ceasefire is good, but talks to resolve Kashmir would be better,” said Mohammad Aslam, a Chakothi resident.

Muhammad Munir noted that people don’t rely much on ceasefire agreements. 

“Today there is a ceasefire but by evening there may be firing here,” he said. “That’s why people don’t rely on this too much, they don’t think this is a final thing.”

Hafiz Muhammad Shah Bukhari, a resident of district Poonch in India, was also happy at the cessation of hostilities. 

“There is a lot of joy in the village [after ceasefire],” he said. “Personally, I am very thankful to Allah. It is a very good decision that the shelling has stopped.”

Saturday’s ceasefire marks the temporary end to fighting that started on Wednesday (May 7), two weeks after 26 men were killed in an attack targeting Hindus in Pahalgam in Indian-administered Kashmir.