Current Final

Author: News Desk

  • State Bank of Pakistan set to announce policy rate decision today

    State Bank of Pakistan set to announce policy rate decision today

    The State Bank of Pakistan (SBP) will soon unveil its latest monetary policy for the upcoming two months.

    In an official statement, the central bank declared that the Monetary Policy Committee (MPC) of SBP will convene on Monday, October 30, 2023, to determine the monetary policy. SBP will then issue the Monetary Policy Statement via a press release on the same day.

    Currently, the State Bank’s policy rate stands at 22 per cent. Since October 2021, the central bank has increased its policy rate by a cumulative 1,500 basis points in an effort to combat rising inflation and bolster the external balance. This rate has remained unchanged since July 2023.

    The forthcoming policy rate announcement is poised to exert a substantial influence on Pakistan’s industries and inflation rate.

    In the most recent meeting held in July, the State Bank of Pakistan (SBP) resolved to maintain the interest rate at 22 per cent.

    The Monetary Policy Committee of the central bank meticulously assessed economic data and the prevailing inflation situation before opting to retain the interest rate. It’s worth noting that substantial progress has been achieved in the current account, thanks to government initiatives.

    This decision comes against the backdrop of Pakistan contending with a high inflation rate, currently pegged at 29.65 per cent.

  • IMF’s $700 million tranche approval crucial for Pakistani rupee’s recovery

    IMF’s $700 million tranche approval crucial for Pakistani rupee’s recovery

    The Pakistani Rupee (PKR) is expected to rebound against the US dollar this week, with this revival contingent on the approval of the next tranche by the International Monetary Fund (IMF).

    Last week, the PKR weakened by 1.78 rupees (0.6 per cent), closing at Rs280.57 against the US dollar, marking a second consecutive week of decline. On the last trading day, it reached a high of Rs280.5 and a low of Rs280.15 against the greenback.

    In the open market, the rupee depreciated by 50 paisa, closing at Rs279.5 for buying and Rs292.8 for selling, compared to Rs279 and Rs282 a week ago.

    The rupee’s decline is attributed to expectations of the IMF’s approval for the next $700 million tranche of its $3 billion loan. Geopolitical tensions in the Middle East and decreased export receipts have also played a role.

    Despite hopes for recovery post-IMF approval, concerns linger about its long-term stability, with Goldman Sachs predicting a short-lived strong performance.

    The rupee’s fate remains tied to the 280 level until the IMF’s decision. The upcoming weeks and months hold uncertainty amid global economic challenges and geopolitical issues.

    Economists and financial experts are closely watching events, especially the IMF’s decision, which will significantly impact Pakistan’s economic stability as it strives to restore economic health and growth.

  • Death toll crosses 8,000: What we know about day 23

    Death toll crosses 8,000: What we know about day 23

    Operation expansion

    Israeli spokesperson, Daniel Hagari, has announced that the Israeli military is expanding its operations.

    “We are moving to the next phase of our war against Hamas in Gaza – from the air, land, and sea,” he stated in a video shared on social media.

    Communication restored

    Earlier today, the Palestine Telecommunications Company announced that landline, mobile and internet services were gradually being restored while their technical teams have been “diligently addressing the damage to the internal network infrastructure under challenging conditions”.

    Hospital vicinity bombed

    Israeli air raids have targeted areas near Gaza’s largest hospital that currently has “tens of thousands of people seeking shelter”, AP reports.

    Without giving any proof, Israel claims that Hamas has a command post under the hospital.

    Additionally, Health Ministry officials have told Al Jazeera that at least 30 hospitals and health centres have shut down in Gaza since October 7 and that they have a dearth of medical and fuel supplies.

    Now more hospitals are expected to shut down in the coming days if supplies do not come in.

    Al-Quds Hospital will be bombed: Israel

    The Palestinian Red Crescent (PRCS) has received “serious threats” from the Israeli forces to “immediately evacuate the al-Quds Hospital as it is going to be bombed”.

  • World Cup 2023: India defeats England by 100 runs

    World Cup 2023: India defeats England by 100 runs

    In the 29th match of the ICC World Cup, India defeated defending champion England by 100 runs.

    Rohit Sharma and Shibman Gill opened the innings for India, but the latter got bowled for nine runs on a total of 26, while Virat Kohli was also caught out without scoring any runs on nine balls.

    India’s third dismissal was Shreyas Iyer who was caught by Mark Wood off Chris Woakes for four runs while the Blue Shirts suffered their fourth loss at 131 when KL Rahul was dismissed for 39. Indian captain Rohit Sharma returned to the pavilion after scoring 87 runs, while Surya Kumar Yadav scored 49 runs and Jasprit Bumrah scored 16 runs. Jadeja scored eight runs, Mohammad Shami scored one run, Kuldeep Yadav scored nine runs and remained not out.

    India scored 229 runs for the loss of 9 wickets in the allotted 50 overs.

    On behalf of England, David Wiley took three wickets, Chris Woakes and Adil Rashid took two wickets respectively.

    Chasing the target of 230 runs, the English batting line-up crumbled like leaves, and the entire team was bowled out for 129 runs in 34.5 overs.

    Liam Livingston scored 27 runs, David Mullan scored 16 runs and Moeen Ali scored 15 runs.

    Jonny Bairstow scored 14, Jos Buttler and Chris Woakes scored 10 and 10 respectively, while Joe Root and Ben Stokes were dismissed for zero.

    Mohammad Shami dismissed four players by giving 22 runs in 7 overs, Jasprit Bumrah got three wickets by giving 32 runs and Kuldeep Yadav got two wickets by giving 24 runs in eight overs.

  • Maulana Tariq Jamil’s son, Asim Jamil shot, passes away

    Maulana Tariq Jamil’s son, Asim Jamil shot, passes away

    Maulana Tariq Jamil’s son dies of bullet wound.

    Renowned cleric Maulana Tariq Jamil suffered a personal loss on Sunday evening when his son, Asim Jamil died of a bullet wound at his ancestral home in Tulamba, close to Mian Chunnu.

    Conflicting reports are giving different causes for Asim Jamil’s death.

    Maulana Tariq Jamil has himself taken to social media to say the death was “accidental”, while asking people to pray for his son’s soul.

    Multiple reports have said that Asim Jamil was transferred to a Rural Health facility in Mian Chunnu in a critical state with a bullet wound to his chest.

    He passed away at the hospital.

  • Hassan Minhaj says New Yorker lied and he has the receipts

    Hassan Minhaj says New Yorker lied and he has the receipts

    American Comedian of Indian origin Hasan Minhaj, most famous for his Netflix standup special “Patriot Act” has lately found himself in a heated controversy post a New Yorker article which questioned the authenticity of anecdotes he has shared over the time in his performances.

    Hasan’s comedy is mostly centred around the racism faced by the diaspora and his quintessential ‘desi’ upbringing in a country like America. He has jokingly called himself ABCD (American Born Confused Desi). The article, titled Hasan Minhaj’s “Emotional Truths” criticised him for exaggeration of some of the incidents he has told, specifically his high school prom experience, an encounter with an FBI informant and a fictionalised anthrax scare.

    The writer of the article related his experience of seeing Hasan at a comedy club where he had said that “Every story in my style is built around a seed of truth,” he reportedly has acknowledged that his comedy is seventy percent emotional truth-this happened-and then thirty percent hyperbole, exaggeration and fiction. He was further accused of using racism and islamophobia as a medium to establish his career.

    Minhaj has released a video on his YouTube channel and Instagram handle in response to this article. “With everything happening in the world, I’m aware that even talking about this now feels so trivial, but being accused of faking racism is not trivial. It is very serious and demands an explanation” he stated in the beginning. Treading on the safe side, he further acknowledges that “I made artistic choices to express myself and drive home larger issues affecting me and my community, and I feel horrible that I let people down.”

    However, he goes on to explain his side of the story for he felt that the article painted him in a negative light and a “con artist” who uses racism and Islamophobia to “advance his career”.

    While relating the prom story he referred to the doxed girl as Bethany Reed to protect her identity. Messages from the girl after a show displayed appreciation for his support and protection.

    He appreciated the creative liberty he has taken with the story of FBI informant in his show The King’s Jester but the underlying objective was to highlight the issue of FBI infiltration in Muslim communities. Using humour and presenting the story in an engaging manner is his forte and part of a job as a comedian. His intention was not deceive but to convey a tint of truth that comes with it.

    Lastly, Minhaj responded to the allegation of fabrication in his story of anthrax scare where he framed it in a way as to let audiences feel the shock he and his wife went through. The character of the investigator was certainly introduced to balance it out.

    He delineated in detail about his two roles. One of the storyteller comedian and the other of a political comedian. “In my work as a storytelling comedian I assumed that the lines between truth and fiction were allowed to be a bit blurrier and I totally get why a journalist would be interested to know where that line sits,”

    Minhaj reasserted, “If the reporter was genuinely curious about the idea of truth in standup, they would have had to report that the majority of my stories are true. But their article led with the opposite.”

  • Gold price surpasses Rs213,000 per tola in Pakistan

    Gold price surpasses Rs213,000 per tola in Pakistan

    The price of gold in Pakistan has experienced an upward trend, marked by a noteworthy increase of Rs2,000 per tola within the domestic market on Saturday.

    This surge brings the price of one tola of gold to Rs213,300, as reported by Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

    Similarly, the price of 10 grammes of gold also saw a significant increase, rising by Rs1,714 to reach Rs182,870.

    On the international front, gold prices are also experiencing an upward trend, currently standing at $1,987 per ounce. 

    However, in the spot market, gold fell by 0.3 per cent to $1,976.19 per ounce by 1:42 pm ET (1741 GMT), and  US gold futures settled 0.3 per cent lower at $1,987.80.

    Other precious metals displayed mixed performance, with silver slipping by 1.3 per cent to $23.05 per ounce, platinum rising by 0.3 per cent to $897.58, and palladium gaining 3 per cent to reach $1,131.03.

  • Complete communication blackout in Gaza: What we know about day 22

    Complete communication blackout in Gaza: What we know about day 22

    Israel vs Hezbollah

    Lebanon’s state-run National News Agency reported that three missiles were fired on HezbollahAs a result of Israel-Hezbollah exchange of fire, nearly 29,000 people have been forced to flee their homes, the UN reports.

    International Organization for Migration states that so far, 28,965 people have been displaced, mainly in the south, an increase by 37 per cent since October 23.

    Israel hits 150 underground targets in Gaza

    The Israeli army claims to have attacked 150 underground targets in the north of the Gaza Strip, including tunnels used by “terrorists”, resultantly killing a number of Hamas members in overnight air raids.

    Gaza communications blackout

    The Gaza strip is now experiencing a blackout of communications as Israel destroyed feeder lines and towers, cutting off phone networks and the internet, the Palestine Telecommunications Company says.

  • Iranian teen has expired after allegedly being beaten up over violation of hijab laws

    Iranian teen has expired after allegedly being beaten up over violation of hijab laws

    Update : “Armita Garawand, a student in Tehran, died an hour ago after intensive medical treatment and 28 days of hospitalisation in intensive care,” reported the Borna news agency affiliated with the youth ministry.

    The 17-year-old ethnic Kurd, who was declared “brain dead” a week ago, had been hospitalised at Fajr Hospital in Tehran since October 1 after she fell unconscious on the metro.

    In September, lawmakers voted in favour of toughening the penalties, which include jail sentences of up to 10 years for women who violate the dress code.

    The reformist daily Ham Mihan called on the authorities to “allow independent media to investigate” the incident in order to persuade the public.

    Previously it was reported that Armita Geravand, a 16 year old in Tehran, is allegedly the latest victim of Iranian morality police. In a controversial incident that took place in a metro station, she is likely to be “brain-dead” as reported by state-media. 

    Iranian authorities have vehemently denied any such claims of altercation on the Tehran Metro station with the female policers. They say that the girl collapsed due to low blood pressure. 

    Humanitarians such as Kurdish-Iranian Hengaw groups have claimed otherwise of the reason behind the teenager’s collapse. They made her hospitalisation public, showing her pictures in an unconscious state and alleging that the teen had not undergone any operations owing to her fragile health condition. She was admitted to the hospital on October 1 and since then she has been in a critical condition under a tight security presence. Her mother was also reportedly arrested around the hospital but was released afterwards. Her father has told the Hengaw group that he has been informed by the medical team that “her brain is no longer functioning and there is no hope of recovery.”

    As for the footage published by Iranian  Media it can be seen that an unconscious body has been dragged out of the train by the female officers. Amnesty International has opined that there is “mounting evidence of a cover-up” because the analysis shows that the footage has been edited with the frame rate increased and over three minutes of footage is missing. They believe that the family and friends affirming state narrative are saying this under duress. They have not been allowed to visit her and even the journalist who went in to report was detained briefly. 

    The stringent hijab laws in Iran became a point of controversy with the death of 22 year old Mahsa Amini, last year in September 2022. The extremely controversial and unfortunate near-dead condition of this young girl has further raised concerns. 

    Just a couple of days ago, two Iranian Journalists were sentenced to long periods of imprisonment on charges of covering the protests held all across the country after Amini’s death. 

    To read more: https://currentold.perceptiond.net/iran-sentences-two-women-journalists-for-covering-mahsa-aminis-protests/

  • PCB seniors ignoring Babar Azam, Rashid Latif claims

    PCB seniors ignoring Babar Azam, Rashid Latif claims

    Rashid Latif, the former wicketkeeper of the Pakistan team, has claimed that seniors in Pakistan Cricket Board (PCB) have begun to ignore the national team captain Babar Azam.

    Yesterday, South Africa defeated Pakistan by one wicket after a sensational match, marking Pakistan’s fourth consecutive defeat in the World Cup.

    The national players and Babar Azam are facing severe criticism.

    Speaking on a TV show, the former wicketkeeper claimed that Babar Azam has been sending messages to the Chairman PCB Management Committee, the Chief Operating Officer, and the Director of International Cricket for two consecutive days, but the three big men of the Cricket Board have refused to answer.

    Rashid Latif claimed that Zaka Ashraf, Salman Naseer, and Usman Wahla were constantly ignoring the messages sent by Babar Azam.

    According to the former Test cricketer, the PCB has told the players that the central contract they have signed will not be accepted and the players will have to sign a new central contract.

    Rashid Latif says that many stories will come out after the World Cup, but the Pakistan Cricket Board has not yet confirmed or denied Rashid Latif’s statement.

    It should be noted that the Pakistan Cricket Board had announced the central contract for the players a few days before the start of the World Cup, in which Babar Azam, Mohammad Rizwan, and Shaheen Afridi included in the A category and their salary was fixed 61 lakhs per month while B The salary of the players included in the category was fixed at 43 lakhs per month.