October 14, 2021
2 mins read

Pakistan stocks end in red amid controversy on ISI

The benchmark KSE-100 index shed 661.3 points, or 1.51 per cent, to close at 43,221.78 points….reports Asian Lite News

Shares at the Pakistan Stock Exchange ended the day in the red on Wednesday as investors were worried over the controversy surrounding the appointment of the Inter-Services Intelligence chief.

The benchmark KSE-100 index shed 661.3 points, or 1.51 per cent, to close at 43,221.78 points.

Topline Securities CEO Mohammad Sohail said investors were worried over the controversy surrounding the appointment of the Inter-Services Intelligence chief, Dawn reported.

Ahsan Mehanti from Arif Habib Corporation said stocks fell across the board on investor concerns for global equity sell off and rising inflation amid slump in rupee.

“Uncertainty over outcome of ongoing Pak-IMF talks under EFF (Extended Fund Facility) and economic uncertainty amid surging trade deficit, bond yields played a catalyst role in the bearish close,” he said.


Last week, the Inter-Services Public Relations (ISPR) had announced that Lt Gen Nadeem Ahmed Anjum had been appointed the new ISI chief. Lt Gen Faiz Hameed, formerly the ISI Director General, was posted as the Peshawar Corps Commander.

However, despite the passage of days following the ISPR announcements, a notification confirming Lt Gen Anjum’s appointment as the new DG ISI has not been issued by the Prime Minister’s Office, the report said.

The name of the new Director General of the Inter Services Intelligence (ISI) will likely be announced tomorrow (Thursday) as Pakistan Prime Minister House has received a summary in this regard, ARY News reported.

According to sources privy to the development, the Prime Minister’s House has received a summary from the Defence Ministry carrying recommendation of three names for the DG ISI.

“Lieutenant General Nadeem Anjum, Lieutenant General Sarfaraz and Lieutenant General Saqib Malik are recommended for the slot in the summary,” they said adding that an announcement in this regard is expected after formal approval from Pakistan Prime Minister Imran Khan, the report said.

Pakistan Federal Minister for Information and Broadcasting Fawad Chaudhry earlier in the day has said that the process of appointing new ISI chief has begun.

“Consultation between PM and COAS over appointment of new ISI DG has been completed and the process has begun,” he said in his tweet.

ALSO READ: Digital Quality of Life goes from bad to worse in Pakistan

Previous Story

Topmost local JeM terrorist killed in Kashmir encounter

Next Story

Taliban official killed in blast in Afghan province

Latest from -Top News

Activists Targeted Again in Balochistan

The Baloch Yakjehti Committee (BYC) on Tuesday condemned the enforced disappearance of Baloch leader Ghani Baloch, blaming Pakistan’s Law Enforcement Agencies and Frontier Corps….reports Asian Lite News The Baloch Yakjehti Committee (BYC),

Islamabad-Ankara-Baku Axis Sharpens Against India

Both Turkey and Azerbaijan have openly expressed solidarity with Pakistan and backed Islamabad in its military standoff with India, this month….reports Asian Lite News The evolving alliance between Islamabad, Ankara, and Baku

India Targets Pak Terror Ties in Guyana

The delegation met the Guyanese President, Mohamed Irfaan Ali, who had hosted a dinner to celebrate friendship and shared aspirations between the two nations…reports Asian Lite News Congress leader Shashi Tharoor, currently

EU Vows US Trade Deal

European Commission President Ursula von der Leyen phoned Trump on Sunday, after which he agreed to postpone the planned tariff increase until July 9….reports Asian Lite News The European Commission remains “fully

ASEAN Unveils 2045 Vision

ASEAN leaders formally adopted the ACV 2045 and its strategic plans across four pillars: political-security, economic, socio-cultural, and connectivity…reports Asian Lite News The Kuala Lumpur Declaration on ASEAN 2045 — a strategic
Go toTop

Don't Miss

‘India’s GDP is now $3.75 trillion’

Provisional estimates released by NSO recently showed the overall economic

India reports 6% drop in hiring in Oct

The ongoing global economic contraction has trickled down to India