A convoy led by Siraj-ul-Haq, the Ameer of Jamaat-e-Islami (JI), was attacked by a suicide bomber on Friday in Zhob, Balochistan.
The Secretary General of the party, Ameer ul Azeem, has confirmed that an explosion took place near the convoy. He further said that the attacker has been killed.
Siraj-ul-Haq and all members of his convoy are safe.
The JI chief was on his way to address a rally in Zhob when the attack took place.
The State Bank of Pakistan (SBP) has experienced a continuous decline in foreign exchange reserves for the third consecutive week. This decline is attributed to the country’s ongoing struggle to secure a deal with the International Monetary Fund (IMF).
The central bank’s statement indicates that the reserves decreased by $72 million to reach $4.31 billion as of May 12, primarily due to external debt payments. This amount is sufficient for less than a month’s worth of imports.
In contrast, commercial banks in Pakistan hold net foreign reserves amounting to $5.62 billion, which is $1.01 billion higher than the central bank’s reserves. Therefore, the country’s total liquid foreign reserves amount to $9.93 billion.
Pakistan’s economy is currently facing significant challenges, exacerbated by financial difficulties and the delay in reaching an agreement with the IMF. Such an agreement is crucial as it would provide much-needed funding to mitigate the risk of default.
Earlier, on May 11, the State Bank of Pakistan (SBP) witnessed a decline of $74 million in foreign exchange reserves within a week, resulting in reserves amounting to $4.38 billion. Additionally, commercial banks held net foreign reserves of $5.6 billion.
Reports indicate that the IMF remains skeptical and is urging Islamabad to take further actions to unlock the loan program, despite assurances from friendly countries regarding external funds for Pakistan.
Pakistan has been asked to present a repayment plan for a $3.7 billion loan to the IMF in June and demonstrate stronger support from friendly nations to fulfill its commitments.
Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has expressed concern on recent crackdowns by law-enforcement authorities on party members.
In a tweet, Khan said that such episodes didn’t even take place during General Ziaul Haq and General Pervez Musharraf’s regimes.
He added that despite all of this his party will not bow down.
The Punjab government has claimed that terrorists who were involved in the attack on military installations on May 9, are hiding at Khan’s Zaman Park residence. The authorities have asked the former Prime Minister to hand them over. On May 18, an operation was expected to take place at Imran Khan’s home, however, it didn’t happen.
Now, it is being reported that Punjab police have obtained warrants from the court to carry out a search operation in Zaman Park.
According to details, an officer of the rank superintendent of police will lead the party which will also include female personnel. Commissioner Lahore Division will accompany the search team.
Pakistan Cricket Board (PCB) Management Committee has seen immense changes after the arrival of Chairman Najam Sethi.
Chief Medical Officer, Dr. Najeeb Soomro, has been sacked by the Board, and it is being said that he was unable to play his role in saving several players from injuries.
Despite a power show of performance by the players in the New Zealand series, many players are playing without proper rest and recovery which caused problems for the management committee. Several players, including Yasir Shah, Shadab Khan, Shaheen Shah Afridi, Mohammad Wasim Jnr, Shahawaz Dahani, Fakhar Zaman, Hasan Ali, Mohammad Rizwan, Naseem Shah, and Imam-ul-Haq have suffered injuries. Despite not being fully fit, some players were given the go ahead to play, which not only aggravated their injuries but also affected the team.
Meanwhile, PCB has given an advertisement for the post of Director Sports Medicine.
Senior General Manager Finance and Accounts, Ateeq Rashid, was also recently asked to hand in his resignation. Another official was sacked due to apparent irregularities regarding honorary match tickets.
Another director is now also on the hit list. Board officials are not satisfied with his work. Sethi is currently in England, therefore a decision is expected after his return to Pakistan.
Forbes magazine has unveiled its highly anticipated list of 30 under 30 successful individuals across Asia, which features 300 people who have excelled in the fields of arts, tech, medicine and more. This year, spotted among the prodigies, are five Pakistanis who exceeded against the odds and made their mark in the fields of media, finance, marketing. Check them out below!
Azam Mahmood as screenwriter for ‘Ramy’
Originally from Karachi, Azam Mahmood is a story editor for the Peacock show ‘Queer As Folk’, who is also working with the Golden Globes award winning actor Ramy Youssef for the show ‘Ramy’.
Anas Niaz as the founder of ‘Bioniks’
Niaz is a mechatronics engineer who is the founder and CEO of Bioniks, a social enterprise from Karachi which is developing low-cost bionic arms using 3D printing technology, to create custom-made prosthetics which can allow users to manipulate objects using robotic fingers.
Ayesha Mubarak Ali as a visual tech artist
Mubarak is a multimedia visual tech artist whose work revolves around identity politics, space applications and the future of humanity. She made history by becoming the first Pakistani artist to collaborate with NASA scientists with her work being sent to the International Space Station for the Maleth II mission.
Shershah Hassan and Waleed Amjad Islam, co-founders of KalPay
Shershah Hassan and Waleed Amjad Islam are co-founders of the fin-tech startup KalPay, a Sharia compliant buy now pay later venture, which aims to provide financial access to a country where credit card use is less than 1%. The company had previously partnered with Pakistani ventures like Food Panda and Muawin to provide users with a convenient and easy way to conduct banking transactions.
The Pakistani rupee is poised to face a significant downfall, with expectations that it may plummet to as low as Rs350 against the US dollar. This alarming projection has raised concerns among stakeholders, as the weakening currency is anticipated to have far-reaching implications, particularly in terms of inflationary pressures that will disproportionately affect the lower and middle classes.
According to Geo, the steep devaluation of the rupee, which has already lost approximately 20 per cent of its value this year, positions it among the worst-performing currencies worldwide.
Experts, including economists Ankur Shukla and Abhishek Gupta, attribute this weakness to a range of factors. Capital flight from Pakistan is intensifying due to the growing apprehension that the International Monetary Fund (IMF) may not provide the much-needed bailout required to prevent a fiscal default in the upcoming fiscal year commencing in July.
The delay in receiving aid, which has been stalled since November, is suspected to be linked to political unrest, further exacerbating the rupee’s decline. The country’s leadership has been plagued by instability since the removal of Imran Khan, Chairman of Pakistan Tehreek-e-Insaf (PTI), through a no-confidence motion vote in April last year.
Khan’s recent arrest has heightened tensions between him, the government, and the military. Following his imprisonment, the rupee experienced a sharp drop to a record low of 299 per dollar, only to partially recover and stabilize at 285 after his release.
Multiple experts are warning of an imminent massive drop in the rupee, with some analysts even foreseeing a further 20 per cent depreciation. The currency’s future trajectory heavily depends on the ongoing clashes between Khan and the government, as well as the IMF’s decision regarding financial assistance.
Adil Ghaffar, CEO at Premier Financial Services Pvt in Karachi, concurs, stating that failure to secure the loan could lead to a slump in the rupee’s value to Rs350 per dollar in June. Market sentiment remains precarious, and economists such as Farooq Pasha highlight the persistent uncertainty surrounding the rupee’s path.
In the near term, politics will continue to pose a key risk until the elections. The bond market has also been adversely affected, with bond investors growing increasingly nervous as the spread between Pakistan’s dollar bonds and US Treasuries reached a record high of over 35 per cent this month.
With the looming prospect of the rupee’s significant decline, the economic landscape of Pakistan hangs in a precarious balance.
The Federal Shariat Court (FSC) has announced its verdict on pleas against the Transgender Persons Rights Act 2018, stating that no one can change their gender on the basis of their self-perceived identity, which means a person cannot change their gender at will.
Gender will remain the same as it is assigned at the time of birth.
Lawyer Asad Jamil wrote in a tweet,” FSC has accepted petitions challenging Transgender Persons Rights Act2018. Principle of self-perceived identity is declared unIslamic and cert defs in s.2 & 2020 Rules also declared unIslamic.”
Transgender people’s gender will be decided on physical factors rather than their emotions. Section 2F has been repealed by the court, and section 3 of the act has also been declared null and void.
Dr Mehrub Moiz Awan, while talking to The Current, expressed her disappointment with the verdict, “Federal Shariah Court has ignored all science, history, and humanity, to give a decision that looks like a copy paste out of a Western transphobic playbook.”
“Ironic that Pakistani Shariah is much closer to JK Rowling and Candace Owens now, then it is to the fatwas of Imam Khomeini and Shah Tantawi that affirmed transgender existence back in the 80s,” she added.
Pakistan U-19 team has scored a tremendous win in Bangladesh despite the team’s head coach Sabih Azhar saying that young players need a lot of improvement.
Pakistan’s U-19 squad returned home from Bangladesh on Thursday after a memorable tour, winning in all three formats — one-off four-day match, One-Day series and a single T20 against their Bangladesh counterparts.
LThrashing Bangladesh in their backyard is not a piece of cake, however Sabih feels like that there is still room for betterment.
“It was not easy to beat Bangladesh in their own backyard. I am satisfied with the team’s achievement but this does not mean we relax. There are still some areas which the coaches have marked and there is still room for improvement in that,” Sabih said in a statement.
“We are looking ahead now with a focus on finding the best winning combination that consistently performs,” the coach added.
“Before coming into the [Bangladesh] series, we not only worked on the players physically, but we also looked after the mental aspect of the game to prepare them for performing [well] at crucial junctures. We are fully focused on doing well at the 2024 ICC U-19 World Cup, even though there is still time for the event.”
Almost 10 days after Corp Commander House in Lahore was ransacked and burnt during protests by Pakistan Tehreek-e-Insaf (PTI) supporters, party Chairman Imran Khan has condemned the attack, Geo has reported.
In an informal chat with journalists outside an anti-terrorism court in Lahore, Imran Khan said that the attacks led to Pakistan’s image being damaged, adding that they should not have happened.
“I have condemned it earlier too. Every Pakistani is condemning it,” the former Prime Minister reportedly said.
He also lashed out at the Pakistan Democratic Movement led government for “arresting 7000 people.” However, he said that he has been stressing on dialogue since 11 months.