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Pakistan

Iqbal Day: Govt announces public holiday on Nov 9

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ISLAMABAD: The federal government has announced a public holiday on November 9 (Wednesday) across the country to mark ‘Iqbal Day’, the 145th birth anniversary of Dr Allama Mohammad Iqbal.

The government notified the development on Tuesday.

“The Prime Minister has been pleased to desire that November 9 (Iqbal Day) shall henceforth be observed as a Public Holiday,” an official notification read.

Iqbal Day: Govt announces public holiday on Nov 9

Dr Iqbal played an instrumental role in inspiring millions of Muslims across the sub-continent to seek an independent homeland where they could practice Islam freely.

The day would dawn with special prayers in mosques for the progress and prosperity of Pakistan.

Popularly known in Pakistan and other parts of the world as “Poet of the East”, Dr Iqbal was born in Sialkot on November 9, 1877.

Iqbal was an acclaimed poet and philosopher. He is credited with writing poetry and using his political influence to demand the creation of a separate homeland for Muslims.

His Allahabad address of 1930 was a watershed moment in pre-partition politics.

Allama Iqbal’s address gave a clear direction and separate identity to Muslims of the sub-continent to achieve Pakistan.

A Change of Guards ceremony will also be held at his mausoleum in Lahore. 

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Senate Session: Senate Proceeds With Debate On Important National Issues

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Today, the Senate reconvened in the Parliament House in Islamabad, with Chairman Sadiq Sanjrani presiding.

The House has persisted in debating matters of national significance.

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Elections

Government Formation: PML-N & PPP To Hold New Round Of Talks Today

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The Pakistan Peoples Party and the Pakistan Muslim League-Nawaz would begin their second round of negotiations today.

In a casual chat with reporters, PML-N Leader Azam Nazir Tarar stated that the negotiations are progressing well.

Tarar went on to say that some decisions on PPP’s involvement in the Cabinet had already been made.

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Business

Over 600 points are added by PSX in intraday trading.

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Tuesday’s lunchtime trading on the Pakistan Stock Exchange saw favorable activity.

During intraday trading, the benchmark KSE-100 Index increased by 672.08 points, or 1.11%, and was trading at 61131.82 levels.

The KSE-30 Index was trading at 20,558.31 after adding 211.46 points, or 1.04%.

The Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples’ Party (PPP) had another round of discussions for the establishment of a central government the day before the rally in the local stock exchange.

In the meanwhile, Fitch Ratings has issued a warning, stating that the likelihood of default would rise in the event of a drawn-out discussion or the inability to reach an agreement with the International Monetary Fund (IMF).

According to the State Bank of Pakistan, which reported net foreign reserves of $8 billion as of February 9, 2024, up from a low of $2.9 billion on February 3, 2023, Pakistan’s external situation has improved recently.

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