“Pakistan has been maintaining Observer Status with SCO for years. Next week Pakistan will be formally admitted as a member of Shanghai Cooperation Organization (SCO), Insha’Allah,” he said at a weekly press briefing.
He said Morgan Stanley Capital International (MSCI) gave Pakistan an Emerging Markets Index approval.
After this ‘reclassification’, Pakistan is likely to receive about $475 million foreign portfolio investment in the next one year. This reclassification reflects our macroeconomic stability.
The Pakistani KSE100 Index has risen by 14 percent so far this year, leading all the stock markets in Asia. As such, Karachi has been Asia’s best performing stock market this year, which led the MSCI to include Pakistan as Emerging Market. KSE stocks leapt to a record high yesterday on the back of MSCI’s decision.
Commenting on two years of Operation Zab-e-Azb, he said “By the grace of Allah, two years after the consensual decision of the country’s leadership to root out terrorism without exception, we have turned the tide, and drastically reduced instances of terrorism in Pakistan, and have also cleared and secured the tribal areas.
“Our valiant soldiers and law enforcement officials have made ultimate sacrifices for us and made proud the entire nation with the unprecedented success.”
Regarding border tension at Torkham crossing, he said both sides are in touch with each other at both diplomatic and military levels, with the view to address the tension and communication gap.
“Afghanistan is our neighbor and we have a special relationship with it, routed in religion, common culture as well as the fraternal bond between the people of the two countries. Peace in Afghanistan is in Pakistan’s interest and we are sincerely making efforts at the QCG and other forums towards peace and reconciliation in Afghanistan.”
Zakaria said Pakistan welcomes peace in Afghanistan and supports all such efforts.
“We are committed to an Afghan-owned and Afghan-led peace process. We are part of the QCG as facilitator for direct talks between Afghan Government and the Taliban and other groups,” he added.
Regarding the QCG, it was discussed during the recent visit of the US delegation. Moreover, all four members of the QCG remain committed to its goals i.e. peace and reconciliation in Afghanistan.