Current Final

Author: News Desk

  • SBP’s forex reserves drop by $125 million to $7.93 billion after debt repayments

    The State Bank of Pakistan (SBP) revealed that its foreign exchange reserves decreased by $125 million within a week, now totalling $7.93 billion as of August 18. This is part of the country’s overall liquid foreign reserves of $13.25 billion. Commercial banks in Pakistan also hold $5.32 billion in net foreign reserves.

    This drop in reserves is due to debt repayments. Specifically, during the week ending August 18, 2023, the SBP’s reserves went down by $125 million, reaching $7,930.3 million due to these debt payments.

    Previously, the SBP’s foreign exchange reserves had increased by $12 million the week before. However, this increase was followed by a decline in the central bank’s reserves, which had previously decreased for three weeks in a row, primarily due to debt repayments.

    While the SBP’s reserves received a boost in July from the first installment of about $1.2 billion from the International Monetary Fund (IMF) as part of a new $3 billion stand-by arrangement, they are now under pressure due to debt repayments, increased import payments after eased restrictions, and a lack of new inflows.

    Regarding Pakistan’s financial situation, the current account, which had been in surplus for four straight months, posted a deficit of $809 million in July, the highest since October 2022.

    At the same time, the Pakistani rupee hit a new record low, falling below Rs300 against the US dollar in the inter-bank market on Thursday. The rupee settled at Rs300.22 against the US dollar, showing a decrease of Re0.58 or 0.19 per cent, as reported by the State Bank of Pakistan.

  • ‘You made us proud’: SRK, Indian celebrities celebrate as Chandrayaan-3 lands on moon

    ‘You made us proud’: SRK, Indian celebrities celebrate as Chandrayaan-3 lands on moon

    Indians all over the world are rejoicing as space shuttle Chandrayaan-3 lands on the south pole of the moon on Wednesday evening, becoming the first country to do so and the fourth country to fly to the moon. This was India’s third lunar exploration mission, launched on July 14 amidst much fanfare.

    Bollywood celebrities like Shah Rukh Khan, Akshay Kumar and Hrithik Roshan took to social media to celebrate the historical achievement, lauding the scientists who helped put India on the moon.

    Bollywood Badshah SRK shared a picture of the Indian flag on the moon on his Instagram account, congratulating the team behind the mission.

    Hrithik Roshan tweeted that he was proud to witness his people making strides and accomplishing history.

    Kareena Kapoor posted her congratulations with a picture of the space shuttle and the moon.

    Siddharth Malhotra shared a post on his Instagram stories and in the caption he wrote how proud he was of being a witness to history being made.

  • Will your city get monsoon rain in the next four days?

    According to the Met Department, monsoon currents from the Arabian Sea are likely to penetrate the upper parts of the country from Tuesday night, whereas a westerly wave is also likely to enter these areas today.

    Under the influence of these systems, rain and wind-thunderstorms are expected in different parts of Kashmir, including Neelum, Muzaffarabad, Poonch, Hattian, Bagh, Haveli, Sudhanoti, Kotli, Bhimber and Mirpur.

    A warning has also been issued for different parts of Gilgit-Baltistan, Murree, Galliyat, Islamabad, Rawalpindi, Attock, Chakwal, Jhelum, Mandi Bahauddin, Hafizabad, Gujranwala, Gujrat, Sialkot, Narowal, Lahore, Kasur, Sheikhupura, Chitral, Dir, Swat, Shangla, Buner, Mansehra, Kohistan, Abbottabad, Haripur, Kohat, Peshawar, Mardan, Swabi and Nowshera from August 23 to 27 with occasional gaps.

    Rain and thunder showers are also expected in Kurram, Lakki Marwat, Dera Ismail Khan, Bannu, Karak, Waziristan, Mianwali, Sargodha, Khushab, Faisalabod, Toba To Singh, Jhang and Bhakkar from 24th to 26th August. While in Dera Ghaz Khan, Ramrour, Musa Khel, Barkhan, Zhob, Kalat, Khuzdar on 25th and 26th August.

    The warning stated that moderate to heavy rainfall is expected to increase the water flows in local nullahs/streams of Kashmir, Gilgit Baltistan, Chitral, Dir, Swat, Kohistan, Shangla, Buner, Mansehra, Abbottabad, Mardan, Nowshera, Swabi, Galliyat, Murree, Rawalpindi/Islamabad from August 23 to 25.

    Moreover, moderate to heavy rains may cause urban flooding in the low-lying areas of the twin cities of Rawalpindi and Islamabad, Peshawar, and Lahore as well as may trigger landslides in the vulnerable areas of Murree, Galliyat, Kashmir, Gilgit Baltistan and hilly areas of Khyber Pakhtunkhwa during the wet spell.

  • India makes history as Chandrayaan-3 successfully lands on moon

    India makes history as Chandrayaan-3 successfully lands on moon

    India makes history by being the first country to ever land on the moon’s south-pole.

    Earlier today, former Federal Minister for Science and Technology, Fawad Chaudhry, congratulated India on X (formerly Twitter) as the country awaits the Chandrayaan-3 moon landing:
    “All eyes on #Chandryaan3 Moon landing 5:40 PM, great day for Indian Science Community and Space scientists, Congratulations to people of India on this great achievement”

    Chandrayaan-3 (means “mooncraft” in Sanskrit) is the third Indian lunar exploration mission. It was launched on 14 July 2023 and was expected to land near the lunar south pole region on 23 August around 05:45 pm IST and the touchdown was expected around 06:04 pm IST.

    So far, only three countries, the United States, Russia, and China, have been able to achieve a controlled landing on the lunar surface. But now India has become the first country to land on the moon’s south pole.

    Earlier in the week, Russia’s Luna-25 spacecraft was to land in the same area, however, it crashed on August 19 after spinning out of control.

  • Indian spy arrested in Karachi

    Indian spy arrested in Karachi

    According to Samaa news, law enforcement agencies have apprehended a man alleged to be an Indian spy along with a Pakistani facilitator in Karachi.

    Senior Superintendent of Police (SSP) City, Arif Aziz has said that the detained is identified as Akhil Dev and has been accused of having been working undercover for India.

    The operation was carried under the jurisdiction of the Kalakot police station in Lyari. Resultantly, incriminating evidence has been retrieved including two Indian passports, firearms, and foreign currency totaling five lakhs among other items. In addition, fake jewellery boxes, six mobile phones, one tablet, and various documents were also recovered from the suspects.

    SSP Arif Aziz stated that this arrest is a proof of rigour and commitment of Pakistani law enforcement agencies to protect national security.

    He also confirmed that investigations are underway to capture any potential aide linked to the accused.

  • NEPRA approves Rs5.40 per unit power tariff increase for quarterly adjustment

    NEPRA approves Rs5.40 per unit power tariff increase for quarterly adjustment

    The National Electric Power Regulatory Authority (NEPRA) has given its approval for a quarterly adjustment, resulting in an increase of Rs5.40 per unit in the power tariff.

    This adjustment comes as NEPRA recognises the limitations of the current structure of electricity distribution companies in providing relief to consumers. However, it’s important to note that this revised tariff won’t apply to Lifeline and K-Electric consumers.

    According to Samaa, NEPRA’s decision to revise the tariff comes after a thorough review of requests from distribution companies to raise the tariff by Rs5 per unit for the fourth quarter of the fiscal year 2022–23. Among these requests, FESCO, GEPCO, HESCO, and IESCO sought increases of Rs23.49 billion, Rs16.13 billion, Rs9 billion, and Rs9 billion, respectively.

    Additionally, LESCO requested a substantial increment exceeding Rs31 billion, while MEPCO, PESCO, QESCO, SEPCO, and TESCO collectively proposed tariff hikes totaling Rs27 billion, Rs9 billion, Rs7 billion, Rs5 billion, and Rs4 billion.

    Consumers should be aware that this tariff adjustment will be gradually recovered during September, October, and November, resulting in an added financial burden of Rs5.40 per unit.

    Distribution companies, in their submissions, highlighted revenue challenges stemming from decreased industrial demand. Particularly, LESCO faced a deficit of three billion units of electricity due to climate-related issues and industrial shutdowns. Both LESCO and HESCO faced higher capacity charges due to industry closures and reduced demand.

    Presently, there’s a backlog of approximately 350,000 pending connections with distribution companies. To recover revenue and address declining demand, the Central Power Purchasing Agency imposed surcharges amounting to Rs7.91.

  • Pakistan won’t surrender to extremism, says PM Kakar

    Pakistan won’t surrender to extremism, says PM Kakar

    Caretaker Prime Minister Anwaar-ul-Haq Kakar has said that Pakistan will continue the fight against terrorism and will not surrender under any circumstances.

    While talking to the media on Wednesday, Kakar stated that Pakistan is his homeland, adding that, “We will take it forward according to our strategy.”

    In reference to the recent incident of martyrdom of security personnel in Waziristan on Tuesday, the caretaker PM said that acts of terrorism cannot weaken the nation.

    He also emphasised that the sacrifices of the martyrs will not be forgotten.

    The prime minister also expressed happiness over the successful rescue of eight individuals in the Battagram cable car operation and praised the efforts of the military forces, the district administration, and villagers.

  • Usama Khan, Yumna Zaidi set to star together in sports film ‘Nayab’

    Usama Khan, Yumna Zaidi set to star together in sports film ‘Nayab’

    It is confirmed now that actor Usama Khan will star along side nation’s darling Yumna Zaidi in the sports film ‘Nayab’. This will be the first time the two will be co-starring together on the big screen.

    Yumna Zaidi set expectations high when in an interview with Independent Urdu, the actress revealed that her character Nayab is a girl from Karachi who dreams of becoming a cricketer, but is hesitant to follow her dreams, fearing patriarchal society backlash.

    “It’s a brilliant story and it is meaningful,” the ‘Tere Bin’ actress gushed. “The whole team is trying their best to execute it the way it should be. Now that we’ve chosen good content, we want to do justice with it so that the audience also enjoys it when they go to the cinema.”

    Speaking about how much she has been practicing to learn how to play cricket, admitting that she had never picked up a bat or ball before this shoot.

    “I believe that cricket is almost a craze in Pakistan but I don’t know why or how but I had never picked a bat or ball before this shoot. I have been practising a lot. From the initial ABCs of cricket to practice matches on the final pitch, it’s been a long process and I thoroughly enjoyed it.”

    But Yumna elaborated that she did her best to learn all she could about the sport in an effort to do justice to her character, to avoid stereotyping the role

    “When you’re trying to perfect an accent for a role, or representing a tribe in a drama, you have to work very hard to avoid stereotyping them. It’s the same with this role. All of my attention, my focus has been here. I want to do justice to this character, to this girl who worships cricket.”

    Yumna became uber-popular with her portrayal of Meerab in the drama ‘Tere Bin’. Her co-lead and real-life best friend Wahaj Ali has gone to greater heights with the Green Entertainment drama ’22 Qadam’. We are happy to witness the two consistently setting the bar higher, and reviving the sports genre that the Pakistani entertainment industry truly needed.

  • Fact check: Is Jemima Khan on Tiktok?

    Fact check: Is Jemima Khan on Tiktok?

    English film producer and screenwriter Jemima Khan has finally shut down rumors surrounding her fake social media accounts, clarifying that she is not on the social media platform TikTok.

    The screenwriter of ‘What’s Love Got To Do With It’ has taken to her X account to share a picture of two fake Tiktok accounts, telling her followers that neither of them were hers.

    The filmmaker released ‘What’s Love Got To Do With It’ in Febuary 2023, which starred Pakistani actress Sajal Aly along with Lilly James and veteran English actress Emma Thompson. The film received positive reviews from audiences and even won four awards at the National Film Awards including  Best Screenplay, Best British Film, Best Director and Best Supporting Actor.

  • ‘I am fine’: Heath Streak confirms good health amidst false death rumours

    ‘I am fine’: Heath Streak confirms good health amidst false death rumours

    Heath Streak heard about reports of his death at his home in Zimbabwe. These rumours quickly spread, leading to global tributes. However, Streak clarified to Sportstar that he’s actually in “good health, recovering from cancer.” He expressed disappointment at the careless spread of such rumours, emphasising his ongoing recovery from cancer.


    Earlier, Henry Olonga, a former colleague, wrongly announced Streak’s death on social media. Since Streak lacks a social media account and has been battling colon cancer since May, he couldn’t counter the false news. 

    Streak mentioned that he is recuperating from cancer, acknowledging some strain due to treatment but overall feeling fine. He clarified that, despite the social media reports, he is very much alive and on the path to recovery.

    Later, Olonga retracted his statement and apologised for the earlier post. A renowned figure in Zimbabwe cricket, Streak was banned by the ICC in 2021 for breaching the anti-corruption code in 2018. Streak achieved 216 Test and 239 ODI wickets. Following his international cricket career, he coached various international teams, including Zimbabwe, Bangladesh, and IPL teams like the Kolkata Knight Riders and the now-defunct Rajkot franchise.

    Streak’s cricketing achievements include being the first Zimbabwe player to secure 100 wickets in Tests and ODIs. He’s the sole cricketer from Zimbabwe to achieve the 100 Test wickets and 1,000 Test runs milestone, as well as amassing 2,000 runs and taking 200 wickets in ODIs. 

    Streak debuted in Test and ODI formats in 1993 and became the team’s captain during the 1999–2000 season.