Current Final

Author: News Desk

  • Pakistan Stock Exchange rises above 44,000 points after 14 months

    Pakistan Stock Exchange rises above 44,000 points after 14 months

    On Thursday, the Pakistan Stock Exchange (PSX) benchmark index surpassed the 44,000 milestone after 14 months, experiencing a substantial surge of over 600 points after a two-day decline. The PSX website reported the KSE-100 index closing at 44,178.85 points, reflecting a commendable rise of 1.44 per cent or 626.02 points.

    Market analysts attribute this rally to several pivotal factors. Firstly, the standby agreement reached with the International Monetary Fund (IMF) played a crucial role in bolstering investor confidence. This agreement significantly alleviated uncertainties, particularly the risk of default, providing Pakistan with the opportunity to focus on its fiscal policies.

    Additionally, the disbursement of payments to independent power producers (IPP) contributed to the positive momentum in the market. The government allocated around Rs140 billion to the IPPs, allowing them to distribute higher dividends. Consequently, this development led to a surge in the shares of these companies.

    Moreover, the cement sector experienced a notable upturn due to a decline in international coal prices. Lower coal prices benefit the cement industry as coal is a primary fuel for cement production.

    Prominent market experts, such as Salman Naqvi, the head of research at Aba Ali Habib Securities, express optimism about the market’s potential. Naqvi anticipates that the index could potentially reach a range of 45,000 to 46,000 points. However, he cautions that the rise may not be consistently linear, considering the recent slump following a historic bull run on Monday.

    On Monday, the stock market witnessed significant gains as Pakistan secured a $3 billion short-term financial package from the IMF. This package provided significant relief to the struggling economy, which was facing a severe balance of payments crisis and diminishing foreign exchange reserves.

    The funding, allocated over nine months, surpassed expectations and provided respite as Pakistan awaited the release of the remaining funds from a previous bailout package agreed upon in 2019. The IMF board is scheduled to approve the deal in July.

  • Is McDonald’s closing operations in Pakistan? We have the real story

    Is McDonald’s closing operations in Pakistan? We have the real story

    McDonald’s Pakistan’s recent social media posts triggered rumors of the company shutting down its operations in the country.

    The first post in question read: “It’s time to pause for a while.”

    The Second post which was done 20 hours after first post read, “Pause to indulge.”

    Here’s how social media reacted to the possible shutdown of McDonald’s:

    https://twitter.com/daactarrsaab/status/1676922233393156097

    However, The Current’s sources have revealed that McDonald’s is not shutting its operations in Pakistan and the posts are a part of an upcoming campaign.

  • 50-year-old chokes to death while swallowing goat’s eyeball

    50-year-old chokes to death while swallowing goat’s eyeball

    A man choked to death while trying to swallow the eyeball of a goat at a small village in India on Thursday.

    A 50-year-old man known as Bagar Sai, who belonged to Chhattisgarh region of Surajpur, travelled to Khopa Dham with other people of Madanpur hamlet to sacrifice a goat at a temple after having his desire granted.

    After the sacrificial ritual, they all gathered to enjoy a meal. Bagar Sai excitedly picked up one of the goat’s eyeballs from the cooked flesh and as he tried to swallow it, the eyeball got stuck in his throat.

    The 50-year-old was rushed to a nearby hospital but he could not survive.

  • Sindh CM orders immediate arrest of Karachi harasser caught stripping on video

    Sindh CM orders immediate arrest of Karachi harasser caught stripping on video

    Trigger Warning: Assault

    Murad Ali Shah, Chief Minister of Sindh, has on Thursday issued directions to arrest the suspect who tried to sexually assault a girl in Karachi.

    The man was caught on camera stopping his motorcycle, stripping off, and then trying to assault a girl who passed him by. The girl fought back, repelling the attack.

    According to Sharjeel Inam Memon, the Information Minister of the province, the Chief Minister has taken notice of the matter and ordered the police to arrest the suspect immediately.

    Police said that they had taken notice of the incident after the video started circulating on social media, but a formal complaint was not filed against the harasser yet. 

    Police officials further added that following the directions by the CM, two teams have also been formed to nab the suspect. The teams include station house officers (SHOs) of two police stations.

    The horrifying incident was allegedly recorded on Wednesday in the Gulistan-e-Johar area of Karachi.

  • Accountability court acquits Nawaz Sharif in plot allotment case

    Accountability court acquits Nawaz Sharif in plot allotment case

    An accountability court has acquitted former Prime Minister Nawaz Sharif on Thursday in a case pertaining to a reference on illegal plot allotment.

    The judgement said that the record shows that Nawaz Sharif was subjected to political revenge, blaming the government of the time for forcing National Accountability Bureau (NAB) officials to destroy the political career of Pakistan Muslim League-Nawaz (PML-N) head.

    The accountability court has declared that the role of Nawaz Sharif in the allegations of the reference is less than that of his co-accused.

    The court has ordered the restoration of the Sharif’s properties and those of 27 shareholders, while emphasising that NAB should release the property after the time of appeal expires.

    The accountability court has also said in the decision that the court cannot be a silent spectator.

  • On Ranveer Singh’s birthday, here are the five times he made the internet sob with declarations of love for wife Deepika Padukone

    On Ranveer Singh’s birthday, here are the five times he made the internet sob with declarations of love for wife Deepika Padukone

    Everyone knows who Ranveer Singh is: a man of many talents including amazing acting skills, vibrant and eccentric fashion taste, but most importantly, adoration for his wife Deepika Padukone.

    Which is completely not weird because when you have a hottie for your wife, its your essential responsibility to keep worshipping the ground she walks on. And Ranveer proves that he is nothing but completely dedicated to the responsibility of being a simp husband.

    https://twitter.com/reereerantz/status/1465048966588940303?s=20

    To celebrate his birthday, we have listed the five times Ranveer and Deepika took couple goals to a new level, and kept us muttering “me and who” while starring at them through our mobile screens.

    1 When he snuck in during Deepika’s Time magazine interview to give her a kiss and wish her best of luck

    And then later shared the cover on his Instagram page with the caption: “World at your feet! Proud of you, babygirl!”

    2 And then this moment during the Indian Sports Honors Awards

    3 This tear jerking moment at the Filmfare Awards when he brought Deepika out on the stage and called her his “lakshmi”, the secret behind his success and seriously someone get us a husband like Ranveer.

    4 Or this moment when he came up on the stage to give Deepika a shawl, and publicly declared how proud he was of her and seriously we’re not crying. It’s the onions.

    5 Or this moment while playing a game with Alia Bhatt

  • In 11 hours, Khan followed by 18k, Shehbaz Sharif by 417 followers on new social platform Threads

    In 11 hours, Khan followed by 18k, Shehbaz Sharif by 417 followers on new social platform Threads

    Threads, Meta’s rival to Twitter, has gained at least 10 million users since its launch on Thursday. Pakistani Prime Minister (PM) Shehbaz Sharif and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan are also among the newly joined users.


    The PTI chairman has 18,000 followers in the first eleven hours of the launch whereas the PM’s following list was limited to 417.


    The app went live on Apple and Android app stores in 100 countries at 7:00 pm EDT and 4:00 am Pakistan time.

    PM shared a picture of himself working out in his first post on Threads.

    Read more: Twitter’s worst nightmare: Facebook to launch Threads on Thursday as a rival to Musk’s platform

    In response to the growing popularity of Snapchat, Instagram introduced a feature called “stories” in 2016, allowing user posts to disappear after a certain period. More recently, Instagram’s “Reels” feature has aimed to compete with the rising prominence of TikTok.


    The launch of Threads poses a credible threat to Twitter under Musk’s leadership. His attempts to boost revenues and reshape the platform in his own image have faced significant criticism. Following the acquisition last year, Musk downsized the company by approximately 80 per cent and reinstated several banned accounts, including those of former US President Donald Trump and the conservative satirical news site Babylon Bee.

  • Pakistan’s pharma industry exports soar to record-breaking $713 million in FY2022-23

    Pakistan’s pharma industry exports soar to record-breaking $713 million in FY2022-23

    Pakistan’s pharmaceutical industry has experienced an impressive surge in exports, reaching an all-time high of $713 million during the fiscal year 2022-23. The remarkable boost in exports can be attributed to the increased demand for surgical and medical equipment, as well as pharmaceutical products.

    The data reveals that surgical and medical equipment exports accounted for $407 million, while drugs and pharmaceutical products contributed $306 million to the export value. Surgical equipment exports witnessed a notable increase of 6.03 per cent, while there was a substantial growth of 25.16 per cent in pharmaceutical product exports.

    Sources indicate that the volume of pharmaceutical exports witnessed a remarkable rise of 98.6 per cent during the fiscal year 2022-23. Approximately 51,964 metric tons of medicines and medical devices were exported, demonstrating the industry’s expanding reach.

    In terms of specific quantities, Pakistan exported 26,054 metric tons of medicines and medical equipment, contributing significantly to the impressive growth in the pharmaceutical sector’s export value. The notable growth of 25.3 per cent in pharma export value further highlights the industry’s success in the international market.

    Looking ahead, sources report that the pharma industry has set an ambitious export target of $1 billion for the fiscal year 2024-25, indicating the industry’s determination to continue its upward trajectory.

    According to ARY News, industry insiders attribute this substantial increase in exports to the incentives provided to the pharmaceutical sector. The government’s support and facilitation have played a crucial role in boosting the industry’s growth and enabling it to compete effectively on the global stage.

    Furthermore, sources highlight the noteworthy surge in exports of Pakistani medical equipment, particularly during the challenging times of the COVID-19 pandemic. The demand for locally produced ventilators witnessed a significant rise as Pakistan began manufacturing its own ventilators to address critical needs during the health crisis.

    The thriving pharmaceutical industry and its impressive export performance signify Pakistan’s growing influence in the global healthcare market. With continued support from the government and a commitment to innovation and quality, the country’s pharma sector is poised for further growth and success in the years to come.

  • 2013 elections were better than 2008, 2018: EU Parliaments head of Election Observation Mission

    2013 elections were better than 2008, 2018: EU Parliaments head of Election Observation Mission

    Michael Gahler, the head of the Election Observation Mission (EOM) of the European Union (EU) Parliament has said while talking to a group of journalists that the EU will not send its election observer mission to Pakistan for the upcoming elections.
    When asked which elections were better, Gahler said 2013 was better than 2008 and 2018.


    Gahler said he had established 30 recommendations after observing the last few elections.


    “Military doesn’t want to take over because they’d be blamed but they still want to control their areas of interest to ensure they’re not touched,” he commented, adding that media and press was more vivid in 2008 and 2013 but it was to the contrary in 2018.


    He wished that for the next elections, every candidate can stand/contest elections without any influence of a third force. “People deserve proper elections.”


    European External Action Service (EEAS) does annual work plans to decide which countries to send EOMs to. Criteria to take into account: previous quality of elections, political significance, follow-up on past EOMs and its recommendations, logistics (costs, security etc).

    Pakistan elections of 2018 has been one of the largest, most complex and expensive EOMs of the EU.

    For 2023, HRVP decided to send only an expert mission (EMM) to Pakistan.

  • Five Pakistanis arrested for ‘suspicious’ remittances in Israel

    Five Pakistanis arrested for ‘suspicious’ remittances in Israel

    Pakistan’s Federal Investigation Agency (FIA) has arrested five Pakistanis for working in Israel. They were sending ‘suspicious’ remittances to Pakistan, the BBC has reported.

    It is notable that no one can travel to Israel on a Pakistani Passport because the country has never diplomatically recognised Israel.

    Investigation officer Muhammad Iqbal told the BBC that the FIA received information from official sources about the ‘suspicious’ transactions in remittances to Pakistan from Israel. He further added that these transactions took place between 2016 and 2021.

    The FIA has detained five people, and raids are being conducted to arrest another three. According to the FIA, the arrested people belong to religious organisations. However, these religious organisations are not banned.

    The people who have been arrested are from the Mirpur Khas area of Sindh. Among the arrested people, four had ‘Schengen’ visas, which means they can travel to 27 countries in Europe.