ISLAMABAD: Pakistan said on Friday that its initial probe into an attack on a school bus in the Balochistan province has confirmed the involvement of “Indian terror proxies,” promising to defeat the “nefarious” designs.

Balochistan has been the site of an insurgency for decades, though it has intensified more recently, with groups like the Baloch Liberation Army (BLA) carrying out high-profile attacks on civilians and security forces.

On Wednesday, at least seven people, including six children, were killed when a vehicle-borne improvised explosive device targeted the school bus en route to an army-run school in Balochistan’s Khuzdar.

Speaking at a press conference alongside a Pakistani military spokesman, Interior Secretary Khurram Muhammad Agha called the Khuzdar bombing an attack on “our values, our education and on the very fabric of our society.”

“Initial findings confirm that this attack is in continuity of a broader pattern of violence sponsored by India through Fitna Al-Hindustan (FAH) operating under the tutelage and the patronage of the Indian intelligence agency R&AW,” he said, without offering any proof to link New Delhi to Wednesday’s assault.

The Indian administration has distanced itself from the Khuzdar school bus bombing, attributing such acts of violence to Pakistan’s “internal failures.”

The FAH comprises several separatist groups and independently operating cells who have been operating in the insurgency-hit southwestern Pakistani province, according to the Pakistani officials. These cells, after having suffered immense casualties in past few years, have now resorted to hitting “soft targets.”

“The terror proxies of Hindustan [India] have been tasked to accentuate their heinous attacks of terrorism in Balochistan and elsewhere, sabotage development in the region, incite fear among the population and derail the journey of peace and development in an attempt to repeat their playbook of 1971 [a reference to the fall of Dhaka],” he said.

During the presser, Pakistani military spokesman Lt. Gen. Ahmed Sharif Chaudhry detailed various incidents of violence that he said were carried out by India-backed groups.

“Very recently the media international media has seen self-given confessions and acknowledgements of multiple surrendered terrorists of this Fitna Al-Hindustan who told that how Hindustan is funding, planning and carrying out terrorist acts in Balochistan,” he noted.

Relations between Pakistan and India touched a new low last month, when gunmen killed 26 people in Indian-administered Kashmir in an attack India blamed on Pakistan. Islamabad denies complicity and Lt Gen Chaudhry said New Delhi had still not provided any evidence to back up its accusation.

A day earlier, Pakistan’s top diplomat at the United Nations (UN) said they would raise the school bus attack at the UN and present evidence of Indian involvement to the international community.

“This was a heinous terrorist act directed against children, against students, [which is] totally unacceptable and condemnable,” Ambassador Asim Iftikhar Ahmad told Arab News in an interview.

Interior Secretary Agha said Pakistan and its people, particularly those in Balochistan, reject such “nefarious designs” and Islamabad had the capacity and will to dismantle these networks and to bring the perpetrators and their handlers to justice.

“I assure you that the state in collaboration with the provincial governments and the state apparatus will defeat them,” he said.

“These Indian sponsored terrorists have no place in Pakistan. We have the wherewithal and the commitment to bring an end to this violence. Our resolved is firm and our response will be decisive.”

Pakistan and India have a history of bitter relations and frequently accuse each other of fomenting militancy in the other’s territory. Both countries have fought three wars, two of them over Kashmir.

KARACHI: Business confidence has significantly improved among investors in Pakistan that is largely attributed to macroeconomic stability, declining inflation and anticipated improvements in business conditions over the next six months, a survey by Pakistan’s Overseas Investors Chamber of Commerce and Industry (OICCI) revealed on Thursday.

The Business Confidence Index (BCI) Survey – Wave 27, conducted across Pakistan in March-April 2025, shows the overall business confidence improved by 16 percentage points from negative 5 percent to positive 11 percent, compared to the previous Wave 26 survey in October-November 2024.

The Manufacturing sector led the recovery, improving from negative 3 percent to positive 15 percent, followed by the Retail/Wholesale sector, which rose from negative 18 percent to positive 2 percent in the latest survey. The Services sector maintained a steady outlook and jumped from 2 percent to 10 percent positive.

“The uptick in business confidence is a clear sign that our economic direction is on the right track. We are focused on creating a conducive environment for investment, supporting private sector growth, and ensuring long-term macroeconomic resilience,” Finance Minister Muhammad Aurangzeb was quoted as saying by the OICCI.

“The improved sentiment among businesses is both encouraging and a validation of our collective efforts.”

The development comes more than a week after the International Monetary Fund (IMF) approved a loan program review for Pakistan, unlocking a $1 billion payment which the State Bank of Pakistan said had been received. A fresh $1.4 billion loan was also approved under the IMF’s climate resilience fund.

Since averting a default in 2023, the South Asian country has been making rigorous efforts to boost its economy by offering various incentives to investors, particularly from abroad.

Pakistan’s stocks, which rose more than 80 percent last year, have largely resisted selling pressures in recent weeks, despite the country’s conflict with India that saw the two sides strike each other with missiles, drones and artillery.

Commenting on the survey’s findings, OICCI President Yousaf Hussain said the overall business confidence had shown a notable improvement across the business community over the past two years.

“This sharp recovery in the Business Confidence in the latest Wave 27 reflects the resilience of Pakistan’s business sector and its readiness to seize emerging growth opportunities,” he said.

“It is heartening to see positive momentum across key sectors, which reflects improved sentiment and growing trust in the country’s economic direction.”

Hussain said there must be greater policy consistency, transparency and active engagement with key stakeholders, including OICCI members, to maintain this growing positivity in the business confidence.

The BCI Wave 27 survey revealed increased optimism for the next six months, with 45 percent of the respondents expressing positive expectations.

“Key contributors to this positive outlook include economic growth, improved government policies, investment climate,” the survey report read.

“Despite the positive trend, 53 percent of the survey respondents reported a negative outlook on business conditions over the past six months, which is a substantial improvement from 66 percent negative sentiments in Wave 26. The key concerns indicated in the survey related to political stability, Rupee FX parity, Energy, and trade policies.”

The BCI of foreign investors, who OICCI members randomly selected for the survey, showed a remarkable increase from positive 6 percent to 17 percent, according to the findings.

This improvement is primarily attributed to better global business climate, an improved industry environment in Pakistan over the past six months, and expectations of increased capital investment in the coming six months.

“The latest BCI Wave 27 results were better than anticipated, with positive expectations reflected across all major sectors. Employment prospects, expansion plans, and investment expectations demonstrated notable gains, particularly in the Manufacturing and Retail sectors,” OICCI Secretary-General Abdul Aleem said.

“Despite notable improvement on the overall BCI, the new investment plans overall showed an improvement of 19 percent, but remained negative, which is an area of concern and needs to be addressed to further accelerate economic growth, energize large-scale manufacturing, trade and export.”