Pakistan's benchmark&nbsp;KSE-100 Index kicked off the week on a high note, gaining a solid 5.8 percent during Monday's trading session. The positive momentum was so strong that trading had to be briefly halted after the index hit its upper circuit limit.

Pakistan recently receiving a much-needed $3 billion short-term financial package from the International Monetary Fund played a big role in Monday's stock rally.&nbsp;

This funding comes as a huge relief for Pakistan, which has been teetering on the brink of default. The cash-strapped country&nbsp;has been grappling with sky-high inflation and dangerously low foreign exchange reserves. Without this bailout, the country&nbsp;could have potentially defaulted on its debt.

Nevertheless, the economy is far from safe.&nbsp;The new fiscal, which began on July 1, will be difficult for Pakistan The country has $23 billion worth of external debt obligation&nbsp;that needs to be re-paid by June 2024. This is six times the total foreign exchange reserves Pakistan has currently.&nbsp;

“This IMF arrangement provides some comfort to investors over Pakistan’s ability to overcome short term external repayments,” Bloomberg quoted Ruchir Desai, fund manager at Asia Frontier Capital Ltd, as saying. Desai added that the Pakistani stock market would do "pretty well” in the next few weeks.&nbsp;

Prime Minister Shehbaz Sharif too expressed optimism after sealing the deal&nbsp;over the weekend. He stated&nbsp;that the loan agreement will put Pakistan on the "path of sustainable economic growth".&nbsp;

Interestingly, inexpensive valuations, owing to the negative headlines garnered by the country over the past one year, are also helping the stock market. As per Bloomberg, the KSE-100 Index of the Karachi Stock Exchange has become the world’s cheapest equity benchmark.

The positive impact of the IMF bailout could also be reflected in Pakistan's sovereign dollar bonds, which are trading higher following the announcement. The 2024 bond, in particular, has seen significant gains, up by over 8 cents at just above 70 cents on the dollar.

Pakistan's benchmark KSE-100 Index kicked off the week on a high note, gaining a solid 5.8 percent during Monday's trading session. The positive momentum was so strong that trading had to be briefly halted after the index hit its upper circuit limit.

Pakistan's benchmark KSE-100 Index kicked off the week on a high note, gaining a solid 5.8 percent during Monday's trading session. The positive momentum was so strong that trading had to be briefly halted after the index hit its upper circuit limit. Pakistan recently receiving a much-needed $3 billion short-term financial package from the International Monetary Fund played a big role in Monday's stock rally. This funding comes as a huge relief for Pakistan, which has been teetering on the brink of default. The cash-strapped country has been grappling with sky-high inflation and dangerously low foreign exchange reserves. Without this bailout, the country could have potentially defaulted on its debt. Nevertheless, the economy is far from safe. The new fiscal, which began on July 1, will be difficult for Pakistan The country has $23 billion worth of external debt obligation that needs to be re-paid by June 2024. This is six times the total foreign exchange reserves Pakistan has currently. “This IMF arrangement provides some comfort to investors over Pakistan’s ability to overcome short term external repayments,” Bloomberg quoted Ruchir Desai, fund manager at Asia Frontier Capital Ltd, as saying. Desai added that the Pakistani stock market would do "pretty well” in the next few weeks. Prime Minister Shehbaz Sharif too expressed optimism after sealing the deal over the weekend. He stated that the loan agreement will put Pakistan on the "path of sustainable economic growth". Interestingly, inexpensive valuations, owing to the negative headlines garnered by the country over the past one year, are also helping the stock market. As per Bloomberg, the KSE-100 Index of the Karachi Stock Exchange has become the world’s cheapest equity benchmark. The positive impact of the IMF bailout could also be reflected in Pakistan's sovereign dollar bonds, which are trading higher following the announcement. The 2024 bond, in particular, has seen significant gains, up by over 8 cents at just above 70 cents on the dollar.

Pakistan stock market surges 5.8% after $3 billion IMF deal

Pervaiz Elahi, the speaker of Pakistan's Punjab assembly has said that Pakistan was created in the name of Islam and the construction of a temple on its soil is against the very spirit of Islam.&nbsp;

Elahi is one of Imran Khan's strongest allies and he is against the construction of a temple and a crematorium in Islamabad.

He just doesn't want new temples. His views may be archaic. But Elahi is not the only one who wants his country to live up to its values. He is speaking for many in Pakistan.

&nbsp;Lawyers are opposing the temple's construction. Just two days back, an advocate filed a petition in the Islamabad High Court.

The purpose was the same, halt the construction of the new temple. The reasons were the same. Instead of constructing a new temple --- why not renovate the old ones?

Then there are clerics against the temple's construction. Mufti Ziauddin, a top cleric in Pakistan has even issued a fatwa which is a ruling under the Islamic law. The fatwa declares the temple's construction illegal because according to the cleric, building new places of worship is not permitted in Islamic nations.

Is there any such rule? &nbsp;The United Arab Emirates, an Islamic kingdom had allotted land for building a temple. But in Pakistan, constructing new temples is 'unislamic'.

Forcefully converting minorities meanwhile is permitted.

The hypocrisy is by no means limited to matters of religion. It is on display -- every time Pakistan cries foul over terror.

First, the Pakistani prime minister called Osama bin Laden, a martyr. Then, he tried blaming India for the attack on the Karachi Stock Exchange last week. Yesterday, this hypocrisy was called out at the UNSC. Pakistan's all-weather ally, China, drafted a statement condemning the attack.

It was placed under a silent procedure --- under which if no member state raises any objections -- the draft within a specified time is considered adopted.

But the statement was stalled twice from being adopted. Germany was the first country to break the silence procedure. It delayed the issuance of the press statement saying it needed to "consult the capital".

Then it was America which broke the silence, further delaying the statement from being issued. Observers say the delay was to send a message to Pakistan.

A message that it cannot call the most dreaded face of terrorism a martyr on one hand and on the other hand expect condemnation over an attack it is blaming India for. The statement was released only after the deadline had passed. It used a standard template for condemning all terror attacks.

Islamabad's attempt to blame India failed miserably. Because India never had anything do with the attack. It was the Balochistan Liberation Army which carried out the attack.

What was the purpose? To send a warning to Pakistan and China to quit Balochistan.

Allah Nazar Baloch, a prominent pro-independence Baloch leader has said, "China has made a long-term plan to make Balochistan an undeclared colony to dominate the world."

"Pakistan has cheaply mortgaged Baloch lands to China. Baloch is the only ones fighting the modern imperialist monster. The attack on the base of Chinese moneylenders in Karachi is in continuation to retrieve our strategic assets."

Pervaiz Elahi, the speaker of Pakistan's Punjab assembly has said that Pakistan was created in the name of Islam and the construction of a temple on its soil is against the very spirit of Islam.

Pervaiz Elahi, the speaker of Pakistan's Punjab assembly has said that Pakistan was created in the name of Islam and the construction of a temple on its soil is against the very spirit of Islam. Elahi is one of Imran Khan's strongest allies and he is against the construction of a temple and a crematorium in Islamabad. He just doesn't want new temples. His views may be archaic. But Elahi is not the only one who wants his country to live up to its values. He is speaking for many in Pakistan. Lawyers are opposing the temple's construction. Just two days back, an advocate filed a petition in the Islamabad High Court. The purpose was the same, halt the construction of the new temple. The reasons were the same. Instead of constructing a new temple --- why not renovate the old ones? Then there are clerics against the temple's construction. Mufti Ziauddin, a top cleric in Pakistan has even issued a fatwa which is a ruling under the Islamic law. The fatwa declares the temple's construction illegal because according to the cleric, building new places of worship is not permitted in Islamic nations. Is there any such rule? The United Arab Emirates, an Islamic kingdom had allotted land for building a temple. But in Pakistan, constructing new temples is 'unislamic'. Forcefully converting minorities meanwhile is permitted. The hypocrisy is by no means limited to matters of religion. It is on display -- every time Pakistan cries foul over terror. First, the Pakistani prime minister called Osama bin Laden, a martyr. Then, he tried blaming India for the attack on the Karachi Stock Exchange last week. Yesterday, this hypocrisy was called out at the UNSC. Pakistan's all-weather ally, China, drafted a statement condemning the attack. It was placed under a silent procedure --- under which if no member state raises any objections -- the draft within a specified time is considered adopted. But the statement was stalled twice from being adopted. Germany was the first country to break the silence procedure. It delayed the issuance of the press statement saying it needed to "consult the capital". Then it was America which broke the silence, further delaying the statement from being issued. Observers say the delay was to send a message to Pakistan. A message that it cannot call the most dreaded face of terrorism a martyr on one hand and on the other hand expect condemnation over an attack it is blaming India for. The statement was released only after the deadline had passed. It used a standard template for condemning all terror attacks. Islamabad's attempt to blame India failed miserably. Because India never had anything do with the attack. It was the Balochistan Liberation Army which carried out the attack. What was the purpose? To send a warning to Pakistan and China to quit Balochistan. Allah Nazar Baloch, a prominent pro-independence Baloch leader has said, "China has made a long-term plan to make Balochistan an undeclared colony to dominate the world." "Pakistan has cheaply mortgaged Baloch lands to China. Baloch is the only ones fighting the modern imperialist monster. The attack on the base of Chinese moneylenders in Karachi is in continuation to retrieve our strategic assets."

Speaker of Pakistan's Punjab assembly speaks against building Hindu temple, calls it against spirit of Islam

First, the economic crisis, then the coronavirus pandemic and now, an attack on its Karachi Stock Exchange.&nbsp;

The attack not only targets Pakistan but, its chief creditor China too.&nbsp;

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Video from inside the Pakistan Stock Exchange building - intense firing can be heard <a href="https://t.co/7xxYW92nHo">pic.twitter.com/7xxYW92nHo</a>
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This horrific sound of gunshots is coming from inside the Karachi Stock Exchange. Four gunmen drove up to the home of Pakistan’s financial hub on Monday morning. They were inside this black car.&nbsp;

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After driving to the gate --- two gunmen managed to enter the parking area. A gun battle ensued. All officials and traders took shelter inside during the shootout. By the end of the one-hour long firefight, all four gunmen were dead. &nbsp;A shaken director of the Karachi Stock Exchange appeared before the media to make a statement.&nbsp; 
&nbsp;

He said: "Two of the terrorists were killed at the main gate, the third terrorist was killed at the centre gate and the fourth terrorist was killed at the main entrance gate of the stock exchange building."&nbsp;

Hours after the attack, the Balochistan Liberation Army took responsibility for the attack. &nbsp;A group that has been raising the demand for an independent Balochistan.&nbsp;

Recently, this group targeted Chinese investments in Pakistan. &nbsp;In 2018, the B.L.A. allegedly tried to storm the Chinese consulate in Karachi.&nbsp;

Last year, the group attacked a five-star hotel --- financed by the Chinese in Gwadar.&nbsp;

The attack on the Pakistani stock exchange targets China too.

Earlier, a Chinese consortium acquired a 40 per cent stake in the PSX - the company running the stock trading platform - at Rs 28 per share in January 2017.

A Chinese consortium had bought a 40 per cent stake in the PSX three years ago. Last year, Chinese investors were considering investing up to two billion dollars in the Pakistani stock market.&nbsp;

The B.L.A. has strongly opposed China’s belt and road initiative. Especially, the investments in Balochistan. &nbsp;Since the day the projects were announced --- Balochistan has caught the world’s attention. Tourists and journalists began visiting the province. Triggering major concerns among the locals.&nbsp;

They fear that CPEC will turn the Baloch people into a minority. The Baloch liberation army has resorted to violence to push china back.&nbsp;

As a province -- Balochistan is struggling. &nbsp;Richest in natural resources, lowest in developmental projects and govt priorities. Balochistan's wealth is being drained by Pakistan. The Pak military has been running a brutal campaign of repression.

Forced disappearances are the norm. The coronavirus pandemic has broken the back of the province. The death toll continues to rise. The locals remain cut off from the world.&nbsp;

Last week, students in Quetta were beaten up by the police. They were demanding access to the internet --- to attend their classes.&nbsp;

Now, the attack on the stock exchange --- only brings the focus back on Pakistan's oppression of Balochistan.

First, the economic crisis, then the coronavirus pandemic and now, an attack on its Karachi Stock Exchange. The attack not only targets Pakistan but, its chief creditor China too.

First, the economic crisis, then the coronavirus pandemic and now, an attack on its Karachi Stock Exchange. The attack not only targets Pakistan but, its chief creditor China too. Video from inside the Pakistan Stock Exchange building - intense firing can be heard pic.twitter.com/7xxYW92nHo — omar r quraishi (@omar_quraishi) June 29, 2020 × This horrific sound of gunshots is coming from inside the Karachi Stock Exchange. Four gunmen drove up to the home of Pakistan’s financial hub on Monday morning. They were inside this black car. After driving to the gate --- two gunmen managed to enter the parking area. A gun battle ensued. All officials and traders took shelter inside during the shootout. By the end of the one-hour long firefight, all four gunmen were dead. A shaken director of the Karachi Stock Exchange appeared before the media to make a statement. He said: "Two of the terrorists were killed at the main gate, the third terrorist was killed at the centre gate and the fourth terrorist was killed at the main entrance gate of the stock exchange building." Hours after the attack, the Balochistan Liberation Army took responsibility for the attack. A group that has been raising the demand for an independent Balochistan. Recently, this group targeted Chinese investments in Pakistan. In 2018, the B.L.A. allegedly tried to storm the Chinese consulate in Karachi. Last year, the group attacked a five-star hotel --- financed by the Chinese in Gwadar. The attack on the Pakistani stock exchange targets China too. Earlier, a Chinese consortium acquired a 40 per cent stake in the PSX - the company running the stock trading platform - at Rs 28 per share in January 2017. A Chinese consortium had bought a 40 per cent stake in the PSX three years ago. Last year, Chinese investors were considering investing up to two billion dollars in the Pakistani stock market. The B.L.A. has strongly opposed China’s belt and road initiative. Especially, the investments in Balochistan. Since the day the projects were announced --- Balochistan has caught the world’s attention. Tourists and journalists began visiting the province. Triggering major concerns among the locals. They fear that CPEC will turn the Baloch people into a minority. The Baloch liberation army has resorted to violence to push china back. As a province -- Balochistan is struggling. Richest in natural resources, lowest in developmental projects and govt priorities. Balochistan's wealth is being drained by Pakistan. The Pak military has been running a brutal campaign of repression. Forced disappearances are the norm. The coronavirus pandemic has broken the back of the province. The death toll continues to rise. The locals remain cut off from the world. Last week, students in Quetta were beaten up by the police. They were demanding access to the internet --- to attend their classes. Now, the attack on the stock exchange --- only brings the focus back on Pakistan's oppression of Balochistan.

Karachi Stock Exchange attacked in Pakistan; Balochistan Liberation Army claims responsibility

Government of India on Monday criticized Pakistan Foreign Minister Shah Mehmood Qureshi for peddling conspiracy theories that India was behind the terror attack on the Pakistan stock exchange building in Karachi.

In a scathing response to Qureshi's absurd remarks, External Affairs Ministry Spokesperson Anurag Srivastava said unlike Pakistan, India has no hesitation in condemning terrorism anywhere in the world including in Karachi.

"India rejects the absurd comments of Foreign Minister of Pakistan on the terrorist attack in Karachi. Pakistan cannot shift the blame on India for its domestic problems," Srivastava said.

He was responding to media queries on false allegations made by Qureshi.

He also referred to Pakistan Prime Minister Imran Khan calling the slain al-Qaeda chief and 9/11 mastermind Osama bin Laden a "martyr" and said Qureshi may wish to reflect on his own government`s position.

"Foreign Minister Qureshi may wish to reflect on this, as also his own Government`s position, including his Prime Minister`s description of the global terrorist as a `martyr`," the spokesperson said.

Hours after gunmen attacked the Pakistani stock exchange in Karachi, Qureshi alleged that the clues of the strike are leading towards sleeper cells activated by India.

(With inputs from agencies)

Government of India on Monday criticized Pakistan Foreign Minister Shah Mehmood Qureshi for peddling conspiracy theories that India was behind the terror attack on the Pakistan stock exchange building in Karachi.

Government of India on Monday criticized Pakistan Foreign Minister Shah Mehmood Qureshi for peddling conspiracy theories that India was behind the terror attack on the Pakistan stock exchange building in Karachi. In a scathing response to Qureshi's absurd remarks, External Affairs Ministry Spokesperson Anurag Srivastava said unlike Pakistan, India has no hesitation in condemning terrorism anywhere in the world including in Karachi. "India rejects the absurd comments of Foreign Minister of Pakistan on the terrorist attack in Karachi. Pakistan cannot shift the blame on India for its domestic problems," Srivastava said. He was responding to media queries on false allegations made by Qureshi. He also referred to Pakistan Prime Minister Imran Khan calling the slain al-Qaeda chief and 9/11 mastermind Osama bin Laden a "martyr" and said Qureshi may wish to reflect on his own government`s position. "Foreign Minister Qureshi may wish to reflect on this, as also his own Government`s position, including his Prime Minister`s description of the global terrorist as a `martyr`," the spokesperson said. Hours after gunmen attacked the Pakistani stock exchange in Karachi, Qureshi alleged that the clues of the strike are leading towards sleeper cells activated by India. (With inputs from agencies)

Govt slams Pakistan for linking Karachi terror attack to India, calls remarks ‘absurd’

Pakistan’s Karachi Stock Exchange was attacked by four gunmen on Monday morning killing at least 10 people.&nbsp;

The militants, who arrived in a car, opened indiscriminate fire and lobbed hand grenades at the main gate of the multi-storey building situated in a high-security zone as they tried to storm it, Geo News reported.

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Armed with automatic machine guns, grenades and explosives, they tried to enter into the compound leading to the Pakistan Stock Exchange (PSX) building through a parking lot but security forces foiled their attack within the compound itself, Deputy Superintendent of Police (South) Jamil Ahmed said.

The Balochistan Liberation Army (BLA) linked Majeed Brigade claimed responsibility for the attack. The group is banned in Pakistan, the UK and the US.&nbsp;

The BLA has carried out several terrorist attacks in the past, including a suicide attack in August 2018 that targeted Chinese engineers in Balochistan, a November 2018 attack on the Chinese consulate in Karachi, and a May 2019 attack against Pearl Continental hotel in Gwadar, Balochistan.&nbsp;

A senior official of the Counter-Terrorism Department said that one of the militants was identified as Salman, who hails from Balochistan. PSX Managing Director Farrukh Khan said that the "number of people in the compound was lower than normal today as many people are still staying home due to the COVID-19". He said trading continued without interruption.

(With inputs from agencies)

Pakistan’s Karachi Stock Exchange was attacked by four gunmen on Monday morning killing at least 10 people. The militants, who arrived in a car, opened indiscriminate fire and lobbed hand grenades at the main gate of the multi-storey building situated in a high-security zone as they tried to storm it, Geo News reported.

Pakistan’s Karachi Stock Exchange was attacked by four gunmen on Monday morning killing at least 10 people. The militants, who arrived in a car, opened indiscriminate fire and lobbed hand grenades at the main gate of the multi-storey building situated in a high-security zone as they tried to storm it, Geo News reported. Armed with automatic machine guns, grenades and explosives, they tried to enter into the compound leading to the Pakistan Stock Exchange (PSX) building through a parking lot but security forces foiled their attack within the compound itself, Deputy Superintendent of Police (South) Jamil Ahmed said. The Balochistan Liberation Army (BLA) linked Majeed Brigade claimed responsibility for the attack. The group is banned in Pakistan, the UK and the US. The BLA has carried out several terrorist attacks in the past, including a suicide attack in August 2018 that targeted Chinese engineers in Balochistan, a November 2018 attack on the Chinese consulate in Karachi, and a May 2019 attack against Pearl Continental hotel in Gwadar, Balochistan. A senior official of the Counter-Terrorism Department said that one of the militants was identified as Salman, who hails from Balochistan. PSX Managing Director Farrukh Khan said that the "number of people in the compound was lower than normal today as many people are still staying home due to the COVID-19". He said trading continued without interruption. (With inputs from agencies)

Karachi stock exchange attack: 11 killed, hostage situation foiled

A grenade attack took place on Monday morning near the Karachi stock exchange in Pakistan, reports said.

According to reports, four suspected terrorists stormed the Karachi stock exchange. All four&nbsp;terrorists were later killed by police with clearance&nbsp;operation underway currently.

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Gunfire was heard following the attack as the police moved in to cordon off the area.&nbsp;The area is a high security zone with head offices of several banks located in the area.

At least ten people were killed in the attack. Reports say the terrorists were wearing police uniforms giving the impression that they were off duty cops.

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Reports said&nbsp;the Baloch Liberation Army has claimed responsibility of the attack.

A grenade attack took place on Monday morning near the Karachi stock exchange in Pakistan, reports said. According to reports, four suspected terrorists stormed the Karachi stock exchange.

A grenade attack took place on Monday morning near the Karachi stock exchange in Pakistan, reports said. According to reports, four suspected terrorists stormed the Karachi stock exchange. All four terrorists were later killed by police with clearance operation underway currently. Gunfire was heard following the attack as the police moved in to cordon off the area. The area is a high security zone with head offices of several banks located in the area. At least ten people were killed in the attack. Reports say the terrorists were wearing police uniforms giving the impression that they were off duty cops. Reports said the Baloch Liberation Army has claimed responsibility of the attack.

Terrorists in police uniform attack Karachi stock exchange; all attackers killed

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