Current Final

Author: News Desk

  • Pakistan’s forex reserves increase by 9%, cross $3 billion mark

    Pakistan’s forex reserves increase by 9%, cross $3 billion mark

    After declining for three weeks in a row and losing a cumulative $1,685 million during that period, the foreign exchange reserves held by the State Bank of Pakistan (SBP) have rebounded, according to a statement from the central bank.

    As of February 10, SBP’s foreign currency reserves totaled $3,192.9 million, which is up $276 million from the previous week. This increase represents a gain of over 9 per cent and has broken the streak of declining reserves.

    However, even with this increase, the amount is still only enough to cover one month of imports. Meanwhile, the net forex reserves held by commercial banks are $5,509.3 million, which is $2,316.4 billion more than SBP, bringing the total liquid foreign reserves of the country to $8,702.2 million. The statement did not provide a specific reason for the increase in SBP-held reserves.

    Pakistan’s economy is in dire straits due to a balance-of-payments crisis, political chaos, and deteriorating security. The government has banned all but essential food and medicine imports until it receives a crucial loan tranche from the International Monetary Fund (IMF), which could unlock other sources of funding for the country.

    Inflation has risen sharply, the rupee has declined, and the country is struggling to afford imports, which has caused a severe decline in its industry. Pakistan is no longer issuing letters of credit, except for essential food and medicine, since January, which has led to a backlog of raw material imports that the country can no longer afford.

    According to Geo, the rupee devaluation and the logjam have resulted in a significant decline in manufacturing, including textiles and steel, and building projects.

    While the IMF cash injection alone will not be enough to rescue Pakistan, the government hopes that it will boost confidence and pave the way for other friendly countries like Saudi Arabia, China, and the UAE to offer additional loans.

  • Bruce Willis has dementia, condition has ‘progressed’

    Bruce Willis has dementia, condition has ‘progressed’

    In a statement shared on social media on Thursday, Bruce Willis’ family, including his wife Emma Hemming Willis, ex-wife Demi Moore and daughters- announced that the former actor is suffering from frontotemporal dementia.


    The statement shared that although there is no treatment for the dementia, the family hoped that in spreading awareness about Willi’s condition will encourage research on the neurodegenerative disease.

    “For people under 60, FTD is the most common form of dementia, and because getting the diagnosis can take years, FTD is likely much more prevalent than we know. Today there are no treatments for the disease, a reality that we hope can change in the years ahead. As Bruce’s condition advances, we hope that any media attention can be focused on shining a light on this disease that needs far more awareness and research.”


    The actor’s family had disclosed in 2022 that he was suffering from aphasia, which was affecting his cognitive abilities and thus he would be retiring from acting.
    “Bruce always believed in using his voice in the world to help others, and to raise awareness about important issues both publicly and privately. We know in our hearts that – if he could today — he would want to respond by bringing global attention and a connectedness with those who are also dealing with this debilitating disease and how it impacts so many individuals and their families.”

    Frontotemporal dementia primarily affects the frontal and temporal lobes of the brain, causing atrophy in these regions, leading to either personality changes or loss of communication. The disease can be inherited but can occur independent of genetic inheritance too. It is progressive with no known cure.

  • Leopard finally captured in Islamabad

    Leopard finally captured in Islamabad

    In the late hours of Thursday, the Islamabad Wildlife Management Board (IWMB) confirmed that a leopard that was on the loose in a private housing society in Islamabad was contained.

    A total of total injuries has been reported so far by the officials.

    Leopard on the loose in DHA Islamabad

    On Thursday, a leopard injured people by entering DHA Islamabad who tried to capture it.

    The wild animal entered an under-construction house in Phase II of the society late on Thursday afternoon. Videos filmed by residents on social media show the animal evading attempts to capture it and jumping on walls.

    The Islamabad Wildlife Board and Assistant Commissioner Zukhruf Fida Malik issued instructions to residents to stay indoors till the animal is captured.

    The Wildlife Board also specified that they are using a trapper to try and capture the big cat.

    Leopards are indigenous to parts of Islamabad and neighbouring areas including Murree and Nathiagali. They are a protected species in the Margalla Hills.

  • Turkish chef Salt Bae announces he will feed 5,000 people every day with new mobile restaurant

    Turkish celebrity chef Salt Bae took to social media on Monday to announce a new business venture: a mobile restaurant which will provide free food to the millions of people affected by the earthquakes in Turkey.
    He shared a video clip of the mobile van, which features a kitchen to serve food. In the caption, the chef had written:

    “It will be the most important and meaningful service in the world for us.”

    Another video showed food being prepared in bulk by the chefs in the mobile kitchen, and in the caption the chef promised that they would feed at least 5000 people every day.

    “We started serving hot food to more people, targeting 5000 people every day.”

    The death toll from the earthquake in Turkey has reached 40,000 now, according to Al-Jazeera. President Recep Tayyip Erdogan held a press conference yesterday, where he cited this as the deadliest disaster in Turkey’s modern history.

  • ‘Institute immediate inquiry against Gen Bajwa’: Khan writes letter to Alvi

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Thursday asked President Arif Alvi to “institute an immediate inquiry” against former Chief of Army Staff (COAS) retired General Qamar Javed Bajwa for violating “his oath of office repeatedly” as the army chief.

    “Some very disturbing information has now come into the public domain whereby it is clear that Gen retd Bajwa as COAS violated his oath of office repeatedly,” Khan stated in a letter written to Alvi.

    PTI leader Shireen Mazari also announced the decision to ask for the inquiry on Twitter, sharing pictures of the said letter.

    Citing Javed Chaudhry’s column, Khan wrote that Gen Bajwa had “admitted to journalist Javed Chaudhry that ‘we’ considered Imran Khan [to be] dangerous to the country if he continued to stay in power”.

    He added that it would be “critical to ascertain” from Gen Bajwa that who did he refer to as “we”. The former premier raised the question, “Who gave him (Gen Bajwa) the power to decide that an elected prime minister (Imran) was supposedly a ‘danger to the country if he continued to stay in power’?”

    The former premier then went on to refer to a YouTube vlog made by political commentator Aftab Iqbal. He said according to Iqbal, “Gen Bajwa told him (Iqbal) in conversation that he had tapes of then-PM Imran Khan’s conversations with him”.

    Khan called it a “serious violation” of the former army chief’s oath as well as of his own fundamental human rights. “The question is why and under what authorisation was Gen Bajwa recording confidential conversations?” he asked.

    “I would also point out that Chapter II of the Constitution describes the mandate of the Armed Forces and specifically refers to Articles 243 and 244. Therefore it is your Constitutional duty as President and as Supreme Commander of the Armed Forces to take immediate action and institute an inquiry so as to establish whether such grave violations of the Constitution and oath of Office under the Constitution have taken place.”

    Imran Khan alleged that Gen (retd) Bajwa violated his oath when he publicly went against the then government’s policy of maintaining neutrality in the Russia-Ukraine war.

    “He did this at an international conference in Islamabad on 2 April 2022 — the Islamabad Security Conference. I would like to point out that the govt policy was arrived at after developing a consensus of all stakeholders including MOFA and retired diplomats who had the relevant experience and were area specialists,” he wrote.

  • From soap to air tickets: What’s getting costlier after mini-budget?

    From soap to air tickets: What’s getting costlier after mini-budget?

    The Federal Board of Revenue (FBR) has issued an SRO to increase the standard 17 per cent general sales tax (GST) to 18 per cent, which will collect taxes worth Rs115 billion. The remaining Rs55 billion will be generated through other measures mentioned in the Finance (Supplementary) Bill 2023.

    The top tax collection authority stated in the notification that the 18 per cent GST would be applicable to consumer packaged goods, which include various items used in everyday life.

    Following the increase in GST, the following items will experience a hike in their prices:

    • Biscuits
    • Jam
    • Jelly
    • Noodles
    • Edible oil
    • Coffee
    • Chocolates
    • Make-up
    • Shampoos
    • Creams
    • Lotion
    • Soap
    • Toothpaste
    • Hair colour
    • Hair removal cream
    • Hair gel
    • Shaving foam
    • Shaving gel
    • Shaving cream
    • Shaving blades
    • Computers
    • Laptops
    • Electronic gadgets
    • Smartphones
    • iPods
    • TVs
    • LEDs
    • LCDs
    • Juicers
    • Blenders
    • Other electronic machinery
    • Car shampoos
    • Car polishes
    • Perfumes
    • Children’s toys

    In addition to the aforementioned actions, the government intends to raise the Goods and Services Tax (GST) on luxury items from 17 per cent to 25 per cent. The Federal Excise Duty (FED) on first and business class air tickets will be increased to either Rs20,000 or 50 per cent, whichever amount is higher.

    Marriage halls will be subject to a ten percent withholding adjustable advance income tax, and the FED on soft drinks, sugary drinks, and cement will also be increased.

  • ‘Get Khan’s blood test done, if he is not addicted to cocaine and ice, I will resign’: Rana Sanaullah

    ‘Get Khan’s blood test done, if he is not addicted to cocaine and ice, I will resign’: Rana Sanaullah

    Interior Minister Rana Sanullah has said that he has every intention of arresting Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, but is bound by permission from the government and Prime Minister (PM) Shehbaz Sharif to do the same.

    Speaking on Geo News’s programme, ‘Aaj Shahzeb Khanzada Kay Sath’, Rana said,” Get Imran Khan’s blood test done, if he is not addicted to cocaine and ice, I will resign.”

    Talking about elections, Sanaullah said that Khan wants to create anarchy in the country. He went on to say that Khan repeatedly claimed that he will block the roads and a sea of people would come out but he failed to do so. Sanaullah further added that this time he will be dealt with rather strictly.

    On the other hand, Pakistan Muslim League-Nawaz (PML-N) senior leader and former prime minister Shahid Khaqan Abbasi opposed putting Khan behind the bars immediately.

    “Even if Imran Khan has done something, I’m not in favour of putting anyone in jail,” the former Premier said while speaking with journalists in Islamabad.

    Commenting on the ongoing cases against the PTI chief, Abbasi said: “After completing this matter, punish Imran Khan if he has done anything.”

    Abbasi added that Khan has committed several wrongs and admitted the mistakes himself. “Imran Khan has himself spoken without any limits. I’m not referring to hearsay, but talking about his own confessions.”

  • ‘Not my govt’; Maryam Nawaz distances herself from her party’s rule

    ‘Not my govt’; Maryam Nawaz distances herself from her party’s rule

    Senior Vice-president of Pakistan Muslim League-Nawaz (PML-N), Maryam Nawaz, has distanced herself from her party’s administration, stating, “This is not my government.”

    Talking to a delegation of youth representatives in Lahore, the Chief Organiser of the party acknowledged that inflation is badly affecting poor people in the government but added that she was not a part of the current government.

    The federal government is formed of a coalition of parties of which PML-N is the largest partner, holding the portfolio of Prime Minister and multiple ministries including Finance.

    When asked about spiralling inflation, Maryam Nawaz said that PML-N is not responsible for it. “It will be our [PML-N’s] government when [party head] Nawaz Sharif will be in Pakistan,” she stated, adding that only he can take the country towards progress.

  • Saying ‘qabool hai’ just got more expensive: Mini-budget proposes increased tax rates on weddings, related events

    Saying ‘qabool hai’ just got more expensive: Mini-budget proposes increased tax rates on weddings, related events

    The Finance (Supplementary) Bill, 2023 proposes to reintroduce advance tax on functions and gatherings, requiring a tax withholding of 10 per cent for filers and 20 per cent for non-filers.

    The tax rate will be applied to the total amount of the bill from the individual or entity hosting the function, whether it is in a marriage hall, marquee, hotel, restaurant, commercial lawn, club, community place, or any other location used for such purposes.

    If the food, service, or any other facility is provided by another person, the host must also collect advance tax on the payment for such items at a rate of 10 per cent for filers and 20 per cent for non-filers. This tax will be adjustable against income subject to the normal tax regime and refundable if it cannot be adjusted.

    The proposed supplementary finance bill has introduced advanced tax on air tickets, marriage halls, hotels, commercial lawns, marquees, and clubs. Additionally, a 10 per cent advance tax will be levied on wedding ceremonies. Duty on business and first-class air travel has also been increased.

    The bill also suggests a 10 per cent hike in the tax on the retail price of beverages. Furthermore, the FED on cement will increase from Rs1.5 to Rs2 per kg after a proposed rise of 50 paisas per kg.

    The supplementary finance bill has also proposed an increase in the FED on cigarettes.

    • The proposed supplementary finance bill suggests a tax of Rs16,500 per 1,000 cigarettes for the tier 1 category, and Rs5,050 per 1,000 cigarettes for the tier 2 category.
    • The bill proposes a 10 per cent tax on sugary juices, syrups, squashes, and artificial sweeteners, and an 18 per cent GST on the retail prices of all items.
    • Imported mobile phones worth more than $500 will see an increase in GST from 17 per cent to 25 per cent.
    • The same 25 per cent rate will be applicable to all luxury goods.
    • The bill proposes a levy of 20 per cent or Rs50,000 FED for air tickets.
    • No additional tax will be applied to wheat, rice, milk, pulses, vegetables, fruits, fish, eggs, meat, or poultry.
    • Real estate or property will not be subject to any tax in the mini budget.
    • The document proposes an increase in the monthly stipend for beneficiaries of the Benazir Income Support Program, with the program’s budget increased by 40 per cent.
  • ‘Ye kya chal raha hai’: social media curious after Urvashi Rautela wishes Naseem Shah ‘happy birthday’

    ‘Ye kya chal raha hai’: social media curious after Urvashi Rautela wishes Naseem Shah ‘happy birthday’

    Yesterday social media lit up once more on speculations on what exactly is going on between Urvashi Rautela and Pakistan cricket pacer Naseem Shah. Sparks flew in September 2022 when the Bollywood actor shared an edited video of her and the 19 year old cricket player. When asked about the video by the media, Rautela responded by saying that the video was made by her fans, and she didn’t know the other person in it.
    Now this time, fans are convinced daal main kuch kaala hai when under a post where Shah had sent good wishes to Shadab Khan for his wedding, Rautela posted a birthday wish to the cricket player.

    “Happy birthday @inaseemshah congratulations on being conferred with honorary DSP rank”

    This smol but meaningful interaction has fans scratching their heads regarding the bond between Naseem Shah and Rautela.

    https://twitter.com/WarisKh73892101/status/1625883223145459713?s=20