Current Final

Author: News Desk

  • ‘October 2023’: PML-N unmoved by Khan’s offer to govt

    ‘October 2023’: PML-N unmoved by Khan’s offer to govt

    Pakistan Muslim League-Nawaz (PML-N) adamant that the next general elections will be held as per schedule in October 2023.

    The Chairman of Pakistan Tehreek-e-Insaf (PTI), Imran Khan, has offered the Pakistan Democratic Movement (PDM)-led government to discuss the possibility of early general elections.

    However, the olive branch comes with a threat. “Give us a date for elections or we will dissolve Khyber-Pakhtunkhwa and Punjab assemblies,” Khan said in a video address to the PTI’s Punjab parliamentary party.

    Marriyum Aurangzeb, Interior Minister, took to Twitter and wrote, “October 2023” as a response to Khan’s offer.

    Ishaq Dar, Finance Minister, said the government stuck to its stance that elections would be held in Oct 2023.

    “We can sit for talks with PTI but on any other issue except snap elections,” he said when asked about PML-N meeting, chaired by the Prime Minister.

    He said the coalition government came into power through a constitutional way and it reserved rights to complete its constitutional term [till Oct 2023].

  • Gold price hits an all-time high of Rs163,500 per tola in Pakistan

    Gold price hits an all-time high of Rs163,500 per tola in Pakistan

    In line with the continuous increase in global prices, the price of gold in Pakistan rose by another Rs750 per tola on Friday, hitting an all-time high of Rs163,500.

    According to information provided by the All Pakistan Sarafa Gold and Jewellers Association (APSGJA), the price of gold for a tola settled at Rs163,500. The price per 10 grammes increased by Rs643 to reach Rs140,175.

    Given that Pakistan imports the precious metal it needs to meet its demand, the rupee’s stability against the US dollar at a record high level is thought to be the main cause of the increase.

    The stock market is currently experiencing selling pressure due to the economy’s overheating, therefore players are shifting their investments to gold, according to Geo.

    Safe-haven investment is once again drawn to gold. Analysts contend that during times of inflation individuals typically invest in gold.

    The cost of gold on international markets, the rupee-to-dollar exchange rate, and the supply and demand in domestic markets affect the price of gold on local markets. The latest price for local markets was determined considering the prices at which trade took place among buyers and sellers.

    As cautious investors prepared for the release of US jobs data, the price of gold rose by $19 per ounce on the international market, finishing at $1,799, but safe-haven bullion was still expected to post a second consecutive weekly gain due to forecasts of a slowing in the rate of US rate hikes.

    In Pakistan, gold is priced about Rs1,000 less than it would be in the Dubai market.

    In the meantime, domestic silver prices increased by Rs10 per tola and Rs8.58 per 10 grammes, respectively, to settle at Rs1,780 per tola and Rs1,526.06 per 10 grammes.

  • Samosagate: Pakistanis vehemently defend their favourite snack

    Samosagate: Pakistanis vehemently defend their favourite snack

    Pakistanis have vehemently reacted to a viral video which claims that their favourite desi snack, the humble samosa is, in fact, a very unhealthy thing to eat.

    Dr Muhammad Affan Qaiser has made a video about the negative side effects of the fried potato delight. Terming the samosa an “atom bomb of 400 calories”, he said that the average caloric ratio of samosas is between 250-400. He also emphasised the fact that samosas are fried in poor quality oil. “Dada ne tail dala hota hai aur pota us mei se samosa nikaal reha hota hai. (That grandson of the man who poured that oil is still frying in it).”

    The doctor also took exception to the fact that despite how unhealthy the samosa is, it is available in all high-end restaurants and universities.

    https://twitter.com/Aashi_2/status/1598200901080342530?s=20&t=gBHclqN_xUnVeX8-lb70tQ

    After the video went viral, Pakistani samosa lovers didn’t hesitate to express their love for samosas. Here is a look at some of the tweets:

    https://twitter.com/danadalrey1984/status/1598679801220300802?s=20&t=p2zgor-Gqegp136MJ75VRA
    https://twitter.com/Alamgir_Afridi_/status/1598570232980774912?s=20&t=p2zgor-Gqegp136MJ75VRA
  • Pakistan’s petroleum sales decline by 12% due to high fuel prices and limited car sales

    Pakistan’s petroleum sales decline by 12% due to high fuel prices and limited car sales

    Sales of Pakistan’s oil marketing companies (OMCs) dropped in November 2022 by 12 percent YoY and 7 percent MoM to 1.55 million metric tonnes (MT), down from 1.66 MT in October 2022 and 1.99 MT in November 2021. This decline was caused by higher petroleum prices, lower power generation, and a decline in car sales.


    Product-wise, sales of Motor Spirit (MS) declined by 3 per cent YoY to reach 0.67 million tonnes, while sales of High Speed Diesel (HSD) decreased by 18 per cent YoY to reach 0.67 million in November 2022. In the meantime, FO sales volumes fell by 22 per cent YoY to 0.14 million tonnes.


    Volumes of MS, HSD, and FO decreased on a monthly basis by 1 per cent, 6 per cent, and 33 per cent MoM, respectively.


    Overall, OMC sales decreased by 20 per cent YoY to 7.70 MTs in 5MFY23 from 9.60 MTs in 5MFY22, a 20 per cent drop. When compared to the same period previous year, the sales of MS, HSD, and FO fell by 16 per cent YoY, 24 per cent YoY, and 26 per cent YoY, respectively.


    As per company-level analysis, Attock Petroleum (APL) saw sales increase by 21 per cent YoY and 4 per cent MoM to 0.13MTs during the review period, while Pakistan State Oil (PSO) saw sales decline by 2 per cent YoY and 5 per cent MoM to 0.81MTs.


    In the meantime, sales at Shell Pakistan (SHEL) fell by 10 per cent MoM and 21 per cent YoY during the review period, to 0.11MTs.


    In November 2022, HASCOL’s sales plummeted by 30 per cent MoM and 16 per cent YoY, respectively, to reach 0.021MTs.
    PSO, APL, SHEL, and HASCOL’s combined sales for 5MFY23 were 4.02MT, 0.71MT, 0.57MT, and 0.13MT, respectively, representing declines of 18 per cent YoY, 21 per cent YoY, 23 per cent YoY, and 2 per cent YoY.

  • Pakistan’s trade deficit increases by 23% as exports decline

    Pakistan’s trade deficit increases by 23% as exports decline

    According to the most recent data released by the Pakistan Bureau of Statistics (PBS), Pakistan’s trade deficit for the month of November 2022 came in at $2.88 billion, up from $2.33 billion in October.

    This represents a 23.59 per cent increase month over month, while the deficit decreased 42.46 per cent year over year from $4.99 billion during the same period in 2017.

    The decrease in the trade imbalance is the result of a decrease in imports, as the import bill for the month of November was $5.25 billion, up 11.34 per cent month over month and down 33.60 per cent year over year.

    In the meantime, exports saw a minor dip of 0.63 per cent MoM to $2.37 billion from $2.38 billion in October 2022. In contrast, on an annual basis, exports decreased by 18.34 per cent from $2.9 billion in November 2021.

    Exports from Pakistan in terms of Rupees totaled Rs528 billion in November 2022 as opposed to Rs525.83 billion in October 2022 and Rs502 billion in November 2021, representing an increase of 0.41 per cent MoM and 5.18 per cent over the same period in the previous year.

    Similarly, imports in November 2022 rose by 12.47 per cent MoM to Rs1.17 trillion from Rs1.04 trillion in October 2022, while on an annual basis, imports fell by 14.49 per cent from Rs1.37 trillion in November 2021.

    The overall trade deficit for 5MFY23 was $14.41 billion, which was a reduction of 30.14 per cent YoY from the deficit experienced during the same time period in 2012.

  • PM Jacinda Ardern shows us how to respond to a misogynist question

    PM Jacinda Ardern shows us how to respond to a misogynist question

    New Zealand Prime Minister (PM) Jacinda Ardern shuts down a male journalist for asking a misogynist question.

    Arden was hosting Finnish Prime Minister Sanna Marin at Auckland’s Government House on Wednesday during the first visit by a Premier from the European country to New Zealand.

    However, a male reporter zoomed in on what he seemed to think was the most important thing Ardern, 42, and Marin, 37, have in common.

    He asked, “A lot of people will be wondering: ‘Are you two meeting just because you’re similar in age and have got a lot of common stuff there — when you got into politics and stuff — or can Kiwis actually expect to see more deals between our two countries down the line?”

    Ardern interrupted the question to say that she wondered “whether or not anyone ever asked Barack Obama and John Key if they met because they were of similar age.”

    With a smile on her face, she added: “We, of course, have a higher proportion of men in politics, it’s a reality. Because two women meet, it is not simply because of their gender.”

    She then schooled the reporter on the important trade relations between the countries. “It’s our job to further it, regardless of our gender,” Arden concluded.

    Meanwhile, Marin said: “We are meeting because we are prime ministers, of course … we have a lot of things in common, but also a lot of things where we can do much more together.”

    The question about age and gender drew criticism in local media outlets, where it was described as “not-so-subtle sexism” and “casual sexism”.

    The viral clip rapidly gained the attention of Twitterati who applauded the female leaders.

    https://twitter.com/ruthbenghiat/status/1598133276119486464?s=20&t=xD7rpa1Evi2lLdCj2nxeLg
  • ‘Give us date for elections or we dissolve assemblies’: Khan offers govt an olive branch wrapped in a threat

    ‘Give us date for elections or we dissolve assemblies’: Khan offers govt an olive branch wrapped in a threat

    The Chairman of Pakistan Tehreek-e-Insaf (PTI), Imran Khan, has offered the Pakistan Democratic Movement (PDM)-led government to discuss the possibility of early general elections.

    However, the olive branch comes with a threat. “Give us a date for elections or we will dissolve Khyber-Pakhtunkhwa and Punjab assemblies,” Khan said in a video address to the PTI’s Punjab parliamentary party.

    “We have the full backing of Pakistan Muslim League-Quaid (PML-Q),” Imran Khan said, adding that Chief Minister (CM) Punjab Chaudhry Pervaiz Elahi will disband the provincial assembly on his call.

    “No elections, no political stability in the country,” Khan declared, adding that the coalition government was not willing to consider snap polls because they know they would be wiped out.

    “The only plan they have is to somehow have me disqualified by filing cases against me and other party leaders,” he observed.

    In response to Khan’s invitation to talks, Interior Minister Rana Sanaullah said Pakistan Democratic Movement (PDM) leadership will not refuse to hold dialogue.

    “Discouraging dialogue is considered non-political and undemocratic by PDM. Its leadership will not refuse to sit and talk. We believe in resolving political matters in a political manner,” he said in a statement reacting to Khan’s invitation.

  • Ramiz adamant that Asia Cup will not be held on neutral venue

    Ramiz adamant that Asia Cup will not be held on neutral venue

    Chairman of the Pakistan Cricket Board (PCB), Ramiz Raja, has said that the Asia Cup will not be held at a neutral venue.


    “India is not coming, I can understand. But to take the Asia Cup away from us is not right. There’s no reason why India can’t c

    ome to Pakistan and Pakistan go to India,” he said.


    Raja also urged the International Cricket Council (ICC) and other top cricket nations to adopt a fair stance rather than staying quiet on important matters.

    “I think the ICC have got to think more out of the box. I’m not just looking at India and Pakistan, but the England Cricket Board and Australian Cricket Board, neutral boards who have held important positions who can be fair regarding an issue. But when they keep quiet it frustrates me completely,” he stated.

    “You have to be emotionally engaged in our concerns. If somebody crosses the line they need to be told and not brushed under the carpet,” he stressed.
    Earlier, Ramiz said Pakistan will boycott the ICC World Cup 2023 if India refuses to visit Pakistan for the upcoming Asia Cup.

  • Pakistani rupee remains unchanged for the 4th time in a week

    Pakistani rupee remains unchanged for the 4th time in a week

    The Pakistani rupee (PKR) once again remained unchanged versus the US dollar in the interbank market during the final trading session of the week.

    It is worth noting that this is the fourth time that the local currency has shown a 0.00 per cent change this week. The only change witnessed in the rupee’s value was reported by the State Bank of Pakistan (SBP) on December 1, when the rupee appreciated only 0.12 per cent to close at Rs223.69.

    The rupee closed at Rs223.69 against the US dollar on Friday. On a weekly basis, the PKR registered an increase of 0.11 per cent against the greenback.

    Additionally, the SBP’s foreign exchange reserves declined by $327 million every week, totaling $7.5 billion as of November 25, 2022.

    For Pakistan, which has been frantically pursuing dollar inflows to meet its balance-of-payments needs, the reserve position is crucial. A low reserve level puts pressure on the currency, which has recently only experienced stability.

    As data showing increased US consumer spending in October encouraged investor hopes that the peak in interest rates was on the horizon, the dollar held steady on Friday but was pinned down near 16-week lows against a basket of major currencies.

    A stronger US dollar limited gains as oil prices, a major metric of currency parity, edged up in Asian trading on Friday on expectations for further easing of COVID controls in China, which might aid in the recovery of demand in the world’s second-largest economy.

  • Exit stage; Lt General Faiz Hameed’s early retirement approved by PM Shehbaz

    Exit stage; Lt General Faiz Hameed’s early retirement approved by PM Shehbaz

    Prime Minister (PM) Shehbaz Sharif has approved Bahawalpur Corps Lieutenant General Faiz Hameed’s application seeking early retirement.

    He was in the running for the top slot for army chief and was scheduled to retire in April 2023.

    Earlier, Lt Gen Hameed sent his application to General Headquarters (GHQ), from where it was forwarded to the Prime Minister’s Office for approval via the Ministry of Defence.

    The development comes days after the federal government appointed General Asim Munir as the Chief of Army Staff (COAS) and Gen Sahir Shamshad Mirza as Chairman of the Joint Chiefs of Staff Committee (CJCSC).

    Previously, Lt Gen Hameed served as the Director-General (DG) of Inter-Services Intelligence (ISI) while Imran Khan was the Prime Minister. He had been criticised by former Premier Nawaz Sharif and his daughter Maryam Nawaz for allegedly playing an unconstitutional role in their convictions and for backing the previous set-up under PTI.

    Just a day after the appointment of Lt Gen Asim Munir as the new army chief of Pakistan, the media had reported that Lt General Hameed was considering an early appointment.