Pakistan-USA rift over NATO supply routes downs KSE

Pakistan-USA rift over NATO supply routes downs KSE

Karachi: (Wednesday, June 13, 2012) The deteriorated relations between once front line allies against war on terror has started to impact Pakistan’s economy more visibly now. According to the news, buzzed with the recent rift created
after US officials’ derogatory remarks about Pakistan, the buyers visibly exhibited a dampen mood at the Karachi Stock Exchange today.

Today, as the market closed, the KSE benchmark 100 index was observed to be down by 0.45 percent or 60.67 points. With a trade volume of 62.25 million shares, the business ended at 13,368.89 points.

Commenting on the situation, a dealer told the reporters that the main reason for market getting under pressure was a selling trend depicted by the foreign investors. He said, “The market remained under pressure because of continuous
foreign selling. Weak global markets and the deadlock in Pakistan – US talks on NATO supply routes also affected market sentiments.”

Yesterday, while providing an insight into the situation in hand, Pakistan’s foreign minister Hina Rabbani Khar said that the difficult talks with the United States to repair frayed ties and re-open NATO supply routes to Afghanistan
were not being thwarted by a Pakistani demand for high tariffs on supplies.

Pakistani government shut the NATO supply routes to Afghanistan following a US attack on its check posts in Salala that killed over 24 Pakistani soldiers.

Although the US and the NATO countries have stricken deal with the East Asian nations for withdrawal of its troops by 2014, but the routes through Pakistan are still important as they provide the shortest possible way out of Afghanistan.

Short URL: https://www.newspakistan.pk/?p=25707

Posted by Fayyaz Yaseen on Jun 13 2012. Filed under Business, Pakistan, USA. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry