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Author: News Desk

  • Gold price hits new record high of Rs218,300 per tola as Pakistani rupee crashes

    Gold price hits new record high of Rs218,300 per tola as Pakistani rupee crashes

    The price of gold in Pakistan has surged to an all-time high, surpassing the Rs218,000 mark, as the country’s local currency slumped to a historic low against the US dollar. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) has released data showing that the price of gold (24 carats) rose by Rs600 per tola and Rs514 per 10 grammes, settling at Rs218,300 and Rs187,157, respectively.

    The rise in the price of the yellow metal was in line with the movement of the rupee, which fell Rs1.34 or 0.46 per cent to Rs288.43 against the US dollar in the interbank market, and an increase in weekly inflation. Weekly inflation rose 0.92 per cent week-on-week and 44.49 per cent year-on-year during the seven-day period ending on April 6, as the prices of sugar and chicken surged due to Ramadan and likely hoarding.

    Gold is often seen as a hedge against inflation and its value increases as the purchasing power of the dollar declines, as well as due to seasonal demand during the holy month of Ramadan. During the week, investors’ attention shifted towards the precious metal as economic tensions continue to rise amid the International Monetary Fund (IMF) reviewing external financing commitments from friendly countries before it releases bailout funds. According to Geo, the delay in the revival of the programme has had a negative impact on the currency market, which in turn is bolstering demand for gold.

    The APSGJA also mentioned that the price of gold in Pakistan is Rs5,000 per tola “undercost” as compared to the Dubai market, indicating that the Pakistani gold market is currently cheaper than the global market.

    Meanwhile, silver prices in the domestic market have also surged to historic highs, with an increase of Rs40 per tola and Rs34.30 per 10 grams, settling at Rs2,520 and Rs2,160.5, respectively. In the international market, the price of gold dropped by $1 per ounce, settling at $2,001.

  • Husain Haqqani kaun hain aur Khan kyun unhein PTI govt giraanay ka zimmedaar samajhtay hain?

    Husain Haqqani kaun hain aur Khan kyun unhein PTI govt giraanay ka zimmedaar samajhtay hain?

    Husain Haqqani, a name we have often heard but most recently has been in limelight since Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan blamed him for being a key figure behind the foreign conspiracy to remove him from power as prime minister.

    So the question remains; who is Haqqani, and why is he the recent target of Khan’s blame game?

    Who is Hussain Haqqani?

    Haqqani is Pakistan’s former ambassador to the United States of America (USA), serving from 2008 to 2011. He currently serves as Director of South and Central Asia at Hudson Institute.

    Haqqani was a central character in the Memogate controversy wherein, in May 2011, it was claimed that he played a central role in the drafting of a memo of a message from the Pakistan People’s Party (PPP) government which was seeking the Obama administration’s support to reign in the Pakistan military after the Osama bin Laden raid in Abbottabad. The controversy eventually led to Haqqani resigning as ambassador and significantly weakening the PPP government.

    Why does Khan blame Haqqani for his ouster?

    After one year of being ousted from power, Khan blamed Haqqani for conspiring with Gen Bajwa and removing his government.

    Background:

    In January, Khan accused former Chief of Army Staff (COAS) General (retd) Qamar Javed Bajwa of hiring the services of Haqqani for lobbying in the US while he was army chief. He also said Haqqani launched a campaign against him and had been promoting the former army chief in the US.

    Last year in December, it was reported that a former CIA station manager in Islamabad, Robert Grenier, and Pakistan’s former ambassador to the US, Haqqani, were hired to lobby for PTI in Washington. Soon this information changed course and many PTI insiders claimed that these men were lobbying against their own government and played a key role in bringing it down.

    According to media reports PTI officials in the US also claimed that both men — Grenier and Haqqani — were working for a senior figure in the military establishment. Dawn reported that the two men were hired to lobby by a Pakistani government official, Iftikhar Durrani, who had served as a special assistant to then-prime minister Imran Khan.

    Journalist Waqas Ahmed claimed in December 2022 that Haqqani met a top Pakistani official in Dubai months before the PTI government was toppled, but the former ambassador denied the claim. The meeting which Ahmed reported was allegedly with the then COAS Gen Bajwa.

    Backing Ahmed’s claims, PTI’s Senior Vice President Shireen Marzari said that the Haqqani-Bajwa files, now in public, clearly indicated that the whole project of regime change conspiracy was done covertly, and that “Haqqani was hired to undermine the PTI government.”

    What does Haqqani say about Khan’s blame game?

    The former ambassador has finally addressed the allegations on Geo News programme ‘Aaj Shahzeb Khanzada Kay Sath’. “It is stupid to say that I ended his [Imran Khan] government. I am neither a lobbyist nor have I received any payment in this regard. I have good relations with people in the US,” he said.

    Stating firmly that the US does not need him to evaluate Imran Khan’s image, Haqqani said, “My research is related to the politics in Pakistan.”

    Calling out Khan for having paranoid delusions, Haqqani said that the PTI chief says things without any proof and if he has evidence, he should very much bring it to light rather just blaming people.

    “I don’t take U-turns like Khan sahib,” said Haqqani, adding that a lot of people contact think tanks in the US for research. He added that the role of lobbies, journalists and scholars are different from each other.

    Pointing out that Khan even called him a traitor because of his stance, Hussain Haqqani stressed that the former Premier was removed from power through the votes of 174 members of the assembly and that he has “nothing to do with any of these MNAs”.

    In the last 26 years, Haqqani said Khan created his anti-American image, adding, “I did not stand on a container and swore at anyone, later asking for forgiveness.”

    The former ambassador further said that Gen (retd) Bajwa and his organisation convinced the nation for many years that his opinion is “anti-Pakistan”. 

    “You [Khan] should accept the vote of no-confidence why are you dragging me into it,” asked Haqqani on the show. “I haven’t been to Pakistan for 11 years and if someone came to meet me then they should be questioned,” said Haqqani regarding the meeting with Gen Bajwa, adding that he himself was appearing on a Pakistani news channel after 11 years.

  • Farmers ‘harassed and threatened’: Human Rights Watch releases report on RUDA project

    Human Rights Watch (HRW) has released a report on Ravi Urban Development Authority (RUDA) project, stating that authorities are forcibly evicting thousands of farmers near the city of Lahore for a massive infrastructure project.

    The international organisation spoke to 14 farmers, who said they have been evicted or threatened with eviction since August 2020. According to them, not only have the authorities “harassed” them but have “criminally charged more than 100 farmers with resisting or refusing to hand over the land they occupied.”

    The report noted that in 2022, the Supreme Court allowed the government to continue development only on the land it had already acquired and for which it had paid compensation.

    Despite that farmers and activists alleged that the development authority has continued to seize land.

    Although the project claimed that it will ease Lahore’s many problems including pollution, sewage, water, housing, and employment, the report said otherwise.

    “Environmental groups have raised concerns that the project’s proposed changes to the flow of the Ravi River could significantly increase the risks of flooding. Pakistan’s Sindh province experienced catastrophic floods in mid-2022.”

    In 2022, former Chief Minister Pervaiz Elahi allocated 700 kanals of land for the construction of a journalists’ housing society in RUDA.

    However, journalists openly criticised the government and refused to accept the offer.

    In August 2020, then-Prime Minister Imran Khan laid the foundation stone of the controversial real estate project.

  • Pakistani rupee falls to historic low of Rs288.43 against dollar

    Pakistani rupee falls to historic low of Rs288.43 against dollar

    On Wednesday, the Pakistani rupee (PKR) reached a new record low, falling to Rs288.43 against the US dollar in the interbank market.

    The State Bank of Pakistan (SBP) reported that the rupee slid by Rs1.34 against the greenback before closing at Rs288.43. Meanwhile, the Forex Association of Pakistan (FAP) has reported that the selling rate of the dollar in the open market was recorded at Rs295.

    This comes after the rupee had closed at Rs287.09 per US dollar the day before, with the greenback trading at over Rs291 in the open market. Additionally, on April 5, the rupee had closed at Rs287.85 per US dollar, while the greenback was trading at over Rs293 in the open market.

    Experts suggest that the drop in the rupee’s value can be attributed to various factors such as economic challenges, political uncertainty, and depleting foreign exchange reserves.

    It is worth noting that a staff-level agreement between the International Monetary Fund (IMF) and Pakistan was scheduled to take place on February 9.

  • Fans back skipper Babar Azam over captaincy issue

    Fans back skipper Babar Azam over captaincy issue

    Babar Azam fans have slammed Pakistan Cricket Board (PCB) Chairman Najam Sethi over speculation that the board is likely to change the captain of Pakistan cricket team, putting skipper Babar Azam out to pasture.

    Media reports have said that Najam Sethi has asked Mickey Arthur, former head coach, whether he wants one captain or two to lead the team, opening up the possibility of having different captains for different formats.


    After Najam Sethi took charge of the Management Committee at the Board, rumors of his alleged disliking for Babar Azam made the rounds.


    Matters heated up when Shadab Khan replaced Babar Azam as temporary captain for the Afghanistan series held in March. Khan, a strong contestant for the captain’s post, unfortunately could not lead his team to victory.

    The official account from PCB was that Babar, along with some other big names, had been rested for the Afghanistan series because they had been playing non-stop cricket for last two years and needed a well-deserved break.

    Sethi reportedly offered assurances that there is not even a remote threat to Babar’s captaincy and that he rules millions of hearts – he shall stay the captain of all three formats as long as he wants.

    Babar Azam was then recalled for the home series against New Zealand. But now there is a question mark on Babar Azam’s future as the national team’s skipper.

    Few days back, Sethi, in one of his interviews, subtly hinted that the interim selection committee- which was formulated in order to lead the selection of the test series against New Zealand – wanted a captaincy switch.

    Refuting this statement, Shahid Afridi, who was then leading the interim selection committee, said that it wasn’t him who suggested PCB to replace Babar as captain.


    Najam Sethi then took to Twitter and wrote about the future of Pakistan’s cricket.


    The controversial statements, the cover-ups, and the blame game disturbed cricket fans, especially Babar’s fandom. #StayInYourLimitsNajamSethi and #BabarAzamIsOurRedLine started trending on Twitter.


    Fans have gradually started to believe that an agenda has been plotted against Babar by the current board regime.


    Pakistan cricket team bears too many damages from the sudden changes in leadership and if this will happen again, it will destroy the unity of Pakistan team.
    Ahead of World Cup 2023 it is not in Pakistan’s favour to change captain or even think about it.

  • FBR report exposes $7.19 million illegal smartphone imports

    FBR report exposes $7.19 million illegal smartphone imports

    According to an official report from the Federal Board of Revenue (FBR), mobile phones worth $7.19 million have been imported into Pakistan illegally without opening letters of credit (LCs) or using the banking channel.

    The report also states that despite an unannounced ban by the State Bank of Pakistan (SBP) on the import of mobile phones and their accessories, 52 Goods Declarations (GDs) worth $8.65m were cleared between December 2022 and February 2023.

    The mobile phones were imported in Completely Build Up (CBU) condition and only $1.46m was paid legally out of Pakistan through the banking channel. The remaining $7.19m was illegally transferred out of Pakistan. The FBR report does not provide details about the mode of payment made to suppliers in Dubai for the import of these mobile phones.

    The Pakistan Telecommunication Authority (PTA) has stated that manufacturers imported over 190,000 mobile phones in CBU condition under a facility allowed to them. However, despite restrictions set by the banking sector on imports, some companies are still reportedly importing mobile phones under their manufacturing license.

    The import of smartphones has increased, especially after at least 30 manufacturing units in Pakistan halted production due to import restrictions.

  • ‘One year in power’: PM Shehbaz talks about challenges and difficulties

    ‘One year in power’: PM Shehbaz talks about challenges and difficulties

    On the one-year anniversary of assuming power as the head of the coalition government, Prime Minister (PM) Shehbaz Sharif on Tuesday said that this has been a successful tenure that resulted in Pakistan’s restored credibility and overcoming of the country’s financial and energy challenges.

    In a series of tweets, the Premier wrote, “Today marks the completion of one year since I took oath as PM of a coalition government. This has been a time of massive challenges & difficulties. Here’s my perspective on this year.”

    “The passage of No-Confidence Vote against Imran Niazi’s government was unprecedented not because PDM came into power but because almost all of Pakistan’s political forces came together to use the forum of Parliament to vote out an unpopular govt through constitutional means,” tweeted Shehbaz.

    The premier further said that the coming together of political parties with different manifestos for a common national cause represented a major step forward in the country’s political evolution. “Reconciliation & cooperation, not confrontation & vendetta mark the new politics post-April ’22,” tweeted Shehbaz.

    He said that despite the economic landmines laid by Imran Khan and disruptions in global fuel and food supply lines, Pakistan’s economy continued to stay afloat. “All predictions of default have turned out to be false alarms. Sincere efforts are underway to revive the economy,” wrote the premier.

    “Coalition govt has been at pains to repair, rebuild & deepen Pakistan’s diplomatic relations that were dealt a severe blow by Niazi regime. I can inform people that over the last one year, we have largely succeeded in establishing Pakistan’s credibility as a partner & friend.”

    Talking about challenges, PM Shehbaz said, “Pakistan faced unprecedented floods last year. The decisiveness with which the government undertook rescue, relief & rehabilitation efforts, provided social protection to millions of people & mobilized international community has been acknowledged by the world as outstanding.”

    “Government employed climate diplomacy to present Pakistan’s case on the international stage. As Chair of G77 plus China, we were instrumental in the establishment of loss & damage fund. Pledges of USD 9 billion at Geneva moot are evidence of our successful diplomacy.”

    “In the last one year, we have made efforts to diversify the energy mix with an aim to provide relief to the citizens. The renewed focus on solar, hydel, and coal power projects is aimed at replacing the costlier sources of power generation with cheaper ones.”

    “Inflation has hit people hard globally. Geo-strategic rivalries, increase in prices of the fuel & food commodities & historic floods are some of the key factors responsible for inflation. Mindful of its impact, govt has expanded social safety net & provided targeted subsidies,” tweeted Shehbaz.

    “Under the watch of the PDM government, Pakistan managed to exit the FATF grey list, thanks to the excellent inter-ministerial coordination as well as support extended by our military leadership. It was a long journey but sustained efforts made it possible.”

    “Building on the public transport infrastructure, govt., since its inception in April last year, focused on early completion of the development and transport infrastructure projects in Islamabad.”

    “Idea was to provide ease, comfort & affordable mobility to the people Pakistan,” said PM Shehbaz.

  • ‘Petty and unnecessary’: Twitter slams Neetu Kapoor for barb at Ranbir’s ex-girlfriends

    Twitter has lashed out at Veteran Bollywood actor Neetu Kapoor for a questionable Instagram post. The actor uploaded a photo on Instagram which many felt was aimed directly at her son Ranbir Kapoor’s ex-girlfriends, Deepika Padukone and Katrina Kaif.

    The picture was of a poster on a wall, which read: “Just because he dated you for seven years doesn’t mean that he would marry you. My uncle studied medicine for six years and now he is a DJ.”

    Kapoor and Padukone had dated for two years before parting ways while the ‘Tu Jhooti Mein Makkar’ actor was in a relationship with Kaif for six years.

    Finding the post problematic, fans lashed out at Kapoor for resorting to sexist and degrading jokes.

    https://twitter.com/lentopapi/status/1644933408433242115?s=20

    Many shared previous clips detailing the late Rishi Kapoor and Neetu’s marriage problems, when he had been caught cheating on her with several women to point out the irony in Kapoor’s comment.

    https://twitter.com/Erica59747578/status/1644933549878046720?s=20

    Twitter users also criticised Kapoor for making such sexist comments about women, rather than directly addressing how it is men who refuse to be faithful in relationships and even pointed to how this has led to her son, Ranbir Kapoor, behaving in such a misogynist manner in several interviews towards his wife Alia Bhatt.

  • Man dies from heat stroke while waiting to collect free flour

    Man dies from heat stroke while waiting to collect free flour

    A man in Dera Ismail Khan died of a heat stroke while collecting free flour in Baisakhi ground.


    The deceased’s father, a resident of Zafarabad Colony, informed the authorities that his son, Waqas, fell sick and began vomiting upon arriving home from the collection centre. He was immediately taken to District Headquarters Hospital, where unfortunately, he was declared dead on arrival. A medical professional at the hospital’s trauma center stated that the cause of death was heat stroke.

    As per Dawn, the individuals who had come to obtain free flour at the distribution site claimed that inadequate amenities were responsible for the fatality. They reported arriving in the morning and waiting in lines under the scorching sun throughout the day.

    Officials from food and revenue departments present at the distribution site were accused of distributing flour unfairly based on nepotism and favoritism. The individuals present also mentioned the absence of any facilities at the distribution center.

  • Punjab Transport Department increases non-AC bus fares by over 250%

    Punjab Transport Department increases non-AC bus fares by over 250%

    The Punjab Transport Department (PTD) has announced that it will increase the fares of non-AC buses in response to the rising prices of diesel and petrol.

    This decision will place an additional burden on the poor, as fares will increase by more than 250 per cent. The new fares for both inter and intra-city non-AC bus services will be implemented from April 25th.

    The fare for non-AC bus services operating between different cities will increase by 233 per cent to 267 per cent. Additionally, an increase of up to 267 per cent in the fares of non-AC buses and wagons has also been approved.

    Under the new policy, passengers travelling one to four km will see an increase from Rs14 to Rs47, a difference of Rs33.

    This fare hike will also make it more expensive for passengers to return to their cities from native towns, particularly after Eid-ul-Fitr.