Current Final

Author: News Desk

  • Caretaker government approves 45 percent pay raise for bureaucracy’s top brass

    The federal caretaker government has just approved a hefty pay rise of 45 percent for top bureaucrats in management positions. These are distinct from career diplomats and are the ones typically drawn from the private sector because of their expertise in a relevant field.

    In a notification released by the Ministry of Finance, the increase would apply to all MP-I, MP-II, and MP-III positions, including basic salaries, house rents, and utilities as approved by the caretaker prime minister.

    The ministry said the monthly remuneration of officers on the MP-I scale used to begin from Rs554,600, including basic salaries, house rent, and utilities with a terminal amount of Rs699,250 per month. The minimum and maximum remunerations would now be Rs804,180 and Rs1,013,920 per month, respectively. The officers in this grade would also be drawing Rs95,910 per month for transport monetisation allowance, taking the revised monthly package to between Rs900,090 and Rs1,109,830.

    Likewise, the minimum and maximum monthly package of MP-II scales was Rs255,750 and Rs413,600 per month. This will now range from Rs370,850 to Rs599,740. The monthly monetisation allowance for this scale will be Rs77,430.
    The officers in the MP-III grade used to get Rs165,855 to Rs233,750 per month. The amount has now been revised to Rs240,460 and Rs338,960, apart from a monetisation allowance of Rs65,060.
    The rumenarations were last viewed in July 2017 and the current rise is effective from October 1.

  • Zardari Accountability Court mein hazir hon

    Zardari Accountability Court mein hazir hon

    Former president and Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari has been summoned by an accountability court in Islamabad in connection with the Thatta water supply case.

    The court, headed by Judge Mohammad Bashir, has also summoned several other individuals, including Ijaz Ahmed Khan, former secretary to the Sindh government, Hassan Ally Memon, former head of the committee responsible for procurements related to the water supply scheme, Khawaja Abdul Ghani Majeed, CEO Omni Group, Menahel Majeed, spouse of Khawaja Abdul Ghani Majeed and others to appear on December 15.

    The case revolves around allegations of illegal contract awards to private contractors.

    Earlier this year, proceedings in the case had been halted due to changes in the National Accountability Ordinance (NAO).

    The case was among dozens of references transferred from accountability courts because of the amendments made in the National Accountability Ordinance (NAO) by the PDM coalition government headed by then-prime minister Shehbaz Sharif.

    These amendments were struck down by the Supreme Court on September 15.

    This development comes as the latest in a series of legal battles for Zardari, who was indicted in the water supply reference back in October 2020, as part of the broader fake bank accounts case.

    The reference specifically focuses on the alleged award of a contract by the special initiative department for the Thatta water supply scheme to a private contractor.

    The accountability court has directed the National Accountability Bureau (NAB) to ensure the reference is properly presented before the appropriate forum.

  • PPP ready to form alliance with PTI in Punjab

    PPP ready to form alliance with PTI in Punjab

    The Pakistan People’s Party (PPP) Punjab chapter has expressed its willingness to form an alliance with any political party, including Pakistan Tehreek-e-Insaf (PTI), against Pakistan Muslim League Nawaz (PML-N), in the upcoming general elections in Punjab, Geo reported on Wednesday.

    “PPP opponents are making alliances, and the party is also ready to devise its strategy for the upcoming elections,” said PPP Punjab acting president Rana Farooq Saeed at a press conference after a meeting.

    Former state minister Tasneem Qureshi, Secretary Information PPP Punjab Shahzad Saeed Cheema, Mian Azhar Hassan Dar, Ali Sanwal, Azhar Awan, Haji Azizur Rehman Chan, and others attended the huddle.

    Shahzad Saeed Cheema criticised PML-N for depending on deals, stating that PML-N could not sustain a competitive stance without a deal in its favour. He further said that the party led by former Prime Minister Shehbaz Sharif ensures a “level playing field” only for itself in the elections.

    The PPP constantly emphasised the importance of a “level playing field” for all political parties taking part in the upcoming general elections, which are scheduled for January 2024.

  • Angelina Jolie issues second statement within one week, condemning Gaza bombing

    Angelina Jolie issues second statement within one week, condemning Gaza bombing

    The Israeli forces bombed Jabalia, the largest refugee camp in Gaza which has left over 195 killed and 120 civilians missing, bringing the death toll closer to 9000.

    Hollywood actress and philanthropist Angelina Jolie shared a picture of the aftermath of Israel’s attack as well as a statement critcising Israel for attacking innocent civilians and children. Angelina urged for a ceasefire, pointing out that world leaders were complicit in these crimes by refusing to prevent these atrocities.

    “This is the deliberate bombing of a trapped population who have nowhere to flee. Gaza has been an open-air prison for nearly two decades and is fast becoming a mass grave. 40% of those killed are innocent children. Whole families are being murdered. While the world watches and with the active support of many governments, millions of Palestinian civilians – children, women, families – are being collectively punished and dehumanized, all while being deprived food, medicine and humanitarian aid against international law. By refusing to demand a humanitarian ceasefire and blocking the UN Security Council from imposing one on both parties, world leaders are complicit in these crimes.”

    In the second slide of her post, Angelina shared significant history behind Jabalia which holds one of Gaza’s largest refugee camps.

    “Jabalia refugee camp is the largest of the Gaza Strip’s eight refugee camps. After the 1948 War, refugees settled in the camp, most having fled from villages in southern Palestine. The camp covers an area of only 1.4 square kilometers, 116,011 Palestine Refugees are registered with the UNRWA in Jabalia camp alone, 75 years since the Palestine conflict.”

    Just a few days earlier, Angelina issued a statement urging her followers to help the people in Gaza who were being violently displaced by the ongoing attrocities and shared links to places that were taking donations to help the Palestinian civilians.

  • Shah Rukh Khan’s Pakistani fans finally have a chance to watch ‘Jawan’

    Shah Rukh Khan’s Pakistani fans finally have a chance to watch ‘Jawan’

    Pakistani fans were heart broken while watching the rest of the world celebrate in the streets when Shah Rukh Khan’s thriller ‘Jawan’ was released in theatres everywhere. But since it’s the King’s birthday (HAPPY BIRTHDAY SRK!!), he has sent fans a treat- a chance to finally watch the film. Jawan is now available to watch worldwide on Netflix.

    Netflix uploaded a hilarious short clip announcing the release of the film on the streaming platform, an extended cut which wasn’t included in the theatre version.

    Jawan released on September 7 in cinemas, quickly getting declared the highest grossing film in India. It recieved critical acclaim for performances by Deepika Padukone and Shah Rukh Khan as well as for screen writing, action sequences and music score.

  • Chances of rain in Bangalore during Pak-New Zealand match

    Chances of rain in Bangalore during Pak-New Zealand match

    As the race for World Cup 2023 semi-finalists takes shape, Pakistan will compete in a make-or-break match against New Zealand in Bangalore on Saturday before playing their last match against England.

    However, weather forecasts show that Bangalore will receive rain on Saturday afternoon, with a 70 to 80 per cent chance of rain in the city from 2 pm onwards on Saturday.

    If the match is washed out due to rain, both teams will get one point each, leaving the net run rate unaffected.

  • More imports, less exports: Pakistan’s trade gap grows in October

    More imports, less exports: Pakistan’s trade gap grows in October

    Recent trade data for Pakistan reveals a monthly trade deficit increase of $0.6 billion, primarily driven by an $0.8 billion surge in imports.

    However, on an annual basis, the trade deficit is gradually shrinking at a modest rate of 4 per cent.

    This is not necessarily negative news, as import restrictions have been lifted as part of the İnternational Monetary Fund (IMF) programme while the economy is experiencing an uptick in demand.

    The encouraging aspect lies in the positive signs displayed by the export sector. The Pakistani rupee (PKR) has depreciated by approximately 35 per cent year-on-year, falling from PKR 220/USD to PKR 280/USD.

    Last year, exporters faced challenges in importing raw materials, machinery, and intermediate goods.

    Consequently, the 14 per cent year-on-year growth in exports, rising from $2.4 billion to $2.7 billion, is a heartening development, provided this trajectory continues.

    Recent measures by the State Bank of Pakistan (SBP) aimed at promoting exports, including competitive gas rates for exporters, reflect a positive intent.

    While industries reliant on gas may require more regionally competitive energy rates, the direction is favorable.

    Moreover, the alignment of open market and interbank exchange rates may encourage a shift from official channels.

    To address Pakistan’s economic challenges, two key corrections are imperative, among many others: increasing tax revenues and enhancing value-added exports.

    Depreciation of the currency alone cannot serve as the sole remedy for stimulating growth.

    To achieve a comprehensive economic framework, it is essential to boost the exports-to-GDP ratio beyond the current 8 per cent.

    This should encourage capitalists to prioritise exports and foreign direct investment (FDI) over property, fixed income, currency, and trading, ensuring sustained double-digit growth over the next five years.

  • Shell Pakistan’s domestic operations set for sale to Saudi company 

    Shell Pakistan’s domestic operations set for sale to Saudi company 

    On Wednesday, Shell Pakistan (SHEL.PSX) announced that its parent company’s subsidiary, Shell Petroleum Company, has entered into an agreement with Wafi Energy for the sale of its domestic operations. 

    The international branch of Shell (SHEL.L), known as Shell Petroleum Company, anticipates the completion of this sale by the fourth quarter of 2024, pending regulatory approvals. 

    Back in June, Shell Petroleum Company declared its intention to divest its 77 per cent ownership stake in Pakistan.  

    This decision follows a series of global operational updates by Shell and significant losses incurred by Shell Pakistan (SPL) in 2022.  

    These losses were primarily attributed to fluctuating exchange rates, the devaluation of the Pakistani rupee, delayed receivables, and the backdrop of a financial crisis and economic slowdown in the country. 

    According to Reuters, Wafi Energy, an entirely owned affiliate of Asyad Holding Group, a fuel retailer based in Saudi Arabia, is the acquiring party. 

    Shell Pakistan’s operations encompass more than 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant, and a 26 per cent ownership interest in Pak-Arab Pipeline Company Limited. 

  • Pakistan’s October inflation eases to 26.9%

    Pakistan’s October inflation eases to 26.9%

    In October, Pakistan witnessed a year-on-year headline inflation rate of 26.9 per cent, as reported by the Pakistan Bureau of Statistics (PBS) on Wednesday.  

    This figure represents a notable decrease from the previous month’s reading of 31.4 per cent in September. Additionally, the month-on-month inflation rate for October showed a 1.1 per cent increase. 

    When considering the average inflation from July to October, it amounted to 28.48 per cent, a contrast to the 25.48 per cent recorded during the same period the previous year. 

    In its most recent ‘Monthly Economic Update and Outlook’ report, the Ministry of Finance projected that consumer price index (CPI)-based inflation in Pakistan for October would fall within the range of 27 per cent to 29 per cent.  

    The ministry anticipated that inflation would exhibit a more contained trend compared to the elevated levels observed during the first quarter of fiscal year 2024. 

    The Pakistan Bureau of Statistics further distinguished between urban and rural inflation rates. In urban areas, the year-on-year CPI inflation increased to 25.5 per cent in October 2023, marking a decline from the 29.7 per cent observed in the previous month and the 24.6 per cent recorded in October 2022.  

    On a month-on-month basis, urban inflation experienced a 1.1 per cent increase in October 2023, compared to a 1.7 per cent increase in the previous month and a 4.5 per cent increase in October 2022. 

    Similarly, in rural areas, the year-on-year CPI inflation rose to 28.9 per cent in October 2023, which represented a decrease from the 33.9 per cent recorded in the previous month and the 29.5 per cent in October 2022.  

    On a month-on-month basis, rural inflation increased by 1.1 per cent in October 2023, in contrast to a 2.5 per cent increase in the previous month and a 5.0 per cent increase in October 2022. 

  • #Qudrat ka Nizam trending, South Africa’s win over Kiwis getting hilarious reactions

    #Qudrat ka Nizam trending, South Africa’s win over Kiwis getting hilarious reactions

    South Africa defeated New Zealand by a massive margin of 190 runs. Pakistani fans were praying for Africa’s win because Pakistan’s cricket team is now dependent on the wins and losses of other teams. South Africa’s win over New Zealand can help Pakistan to reach Semi-Finals

    Pakistan fans are thanking South Africa and their captain Timba Bavuma. A storm of memes is seen on social media after Africa’s win over New Zealand.

    These are some of the most interesting reactions: