Washington/Islamabad/Moscow/Beijing/New Delhi: The Pakistan Stock Exchange (PSX) website remained offline as of 11:55 PM IST, at the time of going to the press, on Friday, April 25, 2025, displaying a message, “We’ll be back soon,” for at least 21 hours and 58 minutes, amid escalating tensions with India following the Pahalgam terror attack in Jammu & Kashmir (J&K), underscoring Pakistan’s deepening economic challenges.
PSX crashed as the United States stated it stands by India on Pahalgam. The PSX website indicated it was “under maintenance and would return soon,”. The outage followed a turbulent week for the PSX, as the benchmark Karachi Stock Exchange (KSE) 100 index dropped 1,300 points or 1.10% on April 23, settling at 1.17 lakh points, in the immediate aftermath of the Pahalgam attack that killed 26 people on April 22, 2028. Today, the death figures rose to 28, as per a National Human Rights Commission press release in New Delhi.
The KSE 100 index’s overall decline of 331 points or 0.29% since January 2025 reflects a shift from earlier gains, as the index had risen by over 1,000 points on April 21 and 414 points the previous Friday. The Pahalgam attack on April 22, 2025, triggered a sharp reversal, with the World Bank noting on April 23 that geopolitical shocks, such as the current India-Pakistan tensions, pose risks to Pakistan’s economic stability, likely contributing to the downward trend in the KSE 100 index this year.
Prime Minister Shehbaz Sharif, addressing domestic relief on April 25, stated, “The coalition government has immediately passed on the benefits of the decline in oil prices in the global market to the people.” The State Bank of Pakistan continues to operate the Roshan Digital Account program, while the Finance Division aims to ensure national economic stability, as per their respective websites in April 2025.
A Pakistan foreign ministry spokesperson today referred to the country’s National Security Committee’s decision to reject India’s decision to hold the Indus Waters Treaty in abeyance, which it said is a binding international agreement brokered by the World Bank and “contains no provision for the unilateral suspension. He reiterated that Pakistan considered India’s action as an “act of war”.
🔴LIVE: Spokesperson’s Weekly Press Briefing 25-04-2025 at Ministry of Foreign Affairs, Islamabad https://t.co/444W3jGNuZ
— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) April 25, 2025
The attack drew global condemnation. U.S. State Department spokesperson Tammy Bruce, on April 24, said, “The United States stands with India, strongly condemns all acts of terrorism.” Russian President Vladimir Putin, on April 22, stated, “This brutal crime cannot be justified,” offering anti-terrorism cooperation with India. China’s Foreign Ministry spokesperson Guo Jiakun, on April 23, said, “China firmly opposes all forms of terrorism.”
However, Pakistan today rejected India’s allegations linking it to the attack. Pakistani Foreign Secretary Amna Baloch, briefing diplomats in Islamabad on April 25, denied the claims, warning that India’s “attempts to weaponise terrorism for political gains threaten regional peace and security.” She reaffirmed Pakistan’s resolve to respond firmly to any aggressive moves.
India suspended visa services to Pakistani nationals effective April 27, 2025, revoking all existing visas except Long Term Visas (LTVs) for Hindu Pakistani nationals, the Ministry of External Affairs announced on April 24. Medical visas remain valid only until April 29, 2025, and Pakistani nationals in India must leave before their amended visa expiry. India also advised its nationals to avoid travel to Pakistan.
The National Human Rights Commission (NHRC) of India, on April 25, condemned the attack, stating, “The time has come to act against those aiding, abetting, supporting and advancing terrorism.” It urged the state to bring perpetrators to justice and support victims’ families.
– global bihari bureau
