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Author: News Desk

  • Vegetable prices soar amid low supply due to floods

    Vegetable prices soar amid low supply due to floods

    Extreme flooding has hampered the supply of perishable items from agricultural areas, driving up the prices of onions and tomatoes in city markets.

    While tomatoes cost Rs400-450 per kilogramme (kg), onions cost Rs350-400 per kg. Onion prices rose by Rs75 per kg week over week in the official rate list, while tomato prices rose by Rs234 per kg.

    The supply chain is hampered by road blockages and transportation restrictions in flood-affected areas, according to The News.

    Onion A-grade cost Rs75 more per kg, was fixed at Rs180-190, and was sold for Rs350-400 per kg. Onion B-grade cost Rs160-167 per kg, was sold for Rs235-250 per kg, and onion C-grade was priced at Rs180-200 per kg.

    Tomato A-grade price increased by Rs234 per kg, maintained at Rs320-330 per kg, sold for Rs400-450 per kg, followed by B-grade price increase to Rs290-300 per kg, C-grade price increase to Rs240-250 per kg, and B&C price increase to Rs350 per kg.

    Chinese carrot prices increased by Rs11 per kg, from Rs80 to Rs85 per kg to Rs120 to Rs160 per kg for sale. Fenugreek (Methi) remained constant at Rs250-260 per kg and was sold for Rs400 per kg.

    This week, the price of chicken also climbed by Rs20 per kg, from Rs240 per kg to Rs280–300 per kg, and the price of chicken meat by Rs30 per kg, from Rs362/kg to Rs380–650/kg.

    Cucumber Farm increased its price by Rs50 per kg, fixed at Rs120-125 per kg, sold at Rs150 per kg, and locally sold cucumbers were sold for Rs200 per kg.

    Brinjal price increased by Rs5 per kg, from Rs86 to Rs90 per kg, and was sold for Rs120 to Rs140 per kg.

    Price of bitter gourd rose by Rs10 per kg, fixed at Rs160-165 per kg, and sold at Rs200 per kg.

    Local lemon prices increased by Rs20 per kg, from Rs235-245 per kg to Rs280-320 per kg when sold. Pumpkin remained at Rs60–63 per kg, sold for Rs80–100 per kg, and pumpkin long was sold for Rs140–150 per kg.

  • IMF board approves disbursement of $1.17 billion in bailout funds

    IMF board approves disbursement of $1.17 billion in bailout funds

    The seventh and eighth reviews of Pakistan’s bailout programme were approved by the International Monetary Fund (IMF) board on Monday, releasing $1.17 billion to the cash-strapped nation.

    Pakistan is now set to get a $1.17 billion loan tranche from the international lender within the next six days.

    “Alhamdolillah, the IMF board has approved the revival of our EFF programme. We should now be getting the seventh and eighth tranche of $1.17 billion,” said Finance Minister Miftah Ismail in a tweet announcing the news.

    Additionally, the Finance Minister praised the Prime Minister, Shehbaz Sharif, “for taking so many tough decisions and saving Pakistan from default.”

    The previous payment was made to Pakistan in February, and the subsequent tranche was scheduled to be released following a review in March.

    However, the PTI government drastically reduced petroleum prices by providing substantial subsidies to the country, which caused the program’s fiscal objectives to be missed.

  • Modi extends condolences to families of the flood victims

    Modi extends condolences to families of the flood victims

    Indian Prime Minister Narendra Modi extends his condolences to the families of the flood victims in Pakistan.

    “Saddened to see the devastation caused by the floods in Pakistan. We extend our heartfelt condolences to the families of the victims, the injured and all those affected by this natural calamity and hope for an early restoration of normalcy,” tweeted Modi.

    The devastating effects of floods across the country continue to rage on as monsoon rains have killed over 1,000 people and disrupted the lives of more than 5.7 million people.

    The federal and provincial governments are currently providing assistance to the displaced families and now the international community has also poured in their support.

    The Organisation of the Islamic Cooperation (OIC) Secretary General Hissein Brahim Taha expressed “deep sorrow over the casualties, massive destruction of property and loss of life resulting from floods in Pakistan”.

    The United Nations (UN) is set to launch a Flash Appeal in support of Pakistan. The international platform will reportedly launch a $160 million appeal.

    Foreign Office (FO) spokesperson Asim Iftikhar said that the appeal will be launched on Tuesday, August 30.

    Canadian Prime Minister Justin Trudeau has announced that the country is currently providing support to Pakistan. “Like many Canadians across the country, I’m thinking of everyone affected by the devastating flooding in Pakistan. Canada is providing support through UNCERF and Red Cross Canada – to provide food, clean water, and other essential services as quickly as possible,” he tweeted.

    During a telephonic conversation between President of the United Arab Emirates (UAE) Sheikh Mohammed bin Zayed with Prime Minister (PM) Shehbaz Sharif, the UAE President offered condolences and sympathy to the victims of the floods.

    PM Sharif thanked Iranian President Ebrahim Raisi and Turkish President Tayyip Erdoğan for their support. Both country leaders had telephonic conversations with the premier.

    President Raisi and President Erdogan conveyed solidarity with Pakistan and assured support in relief assistance in all areas affected by heavy floods and rains.

    Moreover, PM Sharif thanked French President Emmanuel Macron for his support for the flood affectees.

    In a tweet, he said, “Grateful for President Emmanuel Macron’s message of support for the people of faced with devastating floods. We appreciate France’s solidarity and offer of help for the affected people in this hour of need.”

  • ‘Yeh ab tai hogaya hai Imran Khan Pakistan aur 22 crore logo se zyada eham hain’: Twitter reacts to leaked audio

    ‘Yeh ab tai hogaya hai Imran Khan Pakistan aur 22 crore logo se zyada eham hain’: Twitter reacts to leaked audio

    In a leaked audio, former Finance Minister Shaukat Tarin allegedly asked Punjab Finance Minister Mohsin Leghari and Khyber Pakhtunkhwa Finance Minister Taimur Jhagra to write letters withdrawing from the International Monetary Fund’s (IMF) deal.

    Moments after the leaked audio surfaced on Twitter, both finance ministers and Tarin were under fire for their comments and how their conversations were an attempt by the Pakistan Tehreek-e-Insaf (PTI) to sabotage the IMF deal.

    Here are a few reactions.

    Meanwhile, PTI leader Asad Umar and Taimur Jhagra held a press conference following the audio leak between former federal minister Shaukat Tarin and the finance ministers of Punjab and KP.

    Umar said that Tarin, as a former finance minister, had every right to “give advice” to Jhagra and Leghari.

    “There is nothing wrong in Tarin speaking to Jhagra and Leghari on the phone and giving advice,” said Asad Umar.

  • Pak Suzuki extends plant closure due to low inventory

    Pak Suzuki extends plant closure due to low inventory

    The State Bank of Pakistan (SBP) has imposed import restrictions that have negatively impacted the clearance of import consignments, which has in turn affected the inventory levels, according to Pak Suzuki Motor Company (PSMC), which announced on Monday that the shutdown of its auto production plant has been further extended from August 29 to August 31.

    The SBP has instituted a procedure for prior permission for imports within the HS code 8703 category (including CKDs), according to a notice given to the Pakistan Stock Exchange (PSX) by PSMC on May 20, 2022, according to pkrevenue.

    According to PSMC, these restrictions had a negative influence on the import consignment’s clearance, which in turn had an impact on inventory levels.

    PSMC said that it is experiencing a scarcity of inventory. As a result, the company’s management has decided to further extend the auto plant’s shutdown time from August 29, 2022, to August 31, 2022.

    As a result of a decline in inventory levels, PSMC informed the PSX earlier this week that it will halt production of automobiles from August 22 through August 26, 2022.

    However, PSMC stated on both occasions that its motorcycle plant will continue to operate.

    Due to Pakistan’s auto industry’s reliance on imports and the SBP’s limits on Letters of Credit opening as a result of the persistent rupee devaluation, the country is currently experiencing an exchange rate crisis.

    In order to prevent delays in car delivery and future price increases, the manufacturers requested the central bank’s involvement back in July for opening LCs for the import of CKD kits.

    PSMC stated earlier this month that it would lower the pricing of its cars by between Rs75,000 and Rs199,000, citing the strengthening of the rupee versus the US currency. Due to the weakening of the rupee, prices had already climbed significantly in early August.

  • Asad Umar defends Tarin’s alleged audio leak, Miftah asks Tarin to quit politics

    Pakistan Tehreek-e-Insaf (PTI) Secretary General Asad Umar along with Khyber Pakhtunkhwa (KP) Finance Minister Taimur Jhagra held a press conference following the alleged audio leak between former federal minister Shaukat Tarin and provincial finance ministers.

    Earlier in the day, an audio was leaked in which Tarin allegedly asked Punjab Finance Minister Mohsin Leghari and KP Finance Minister Taimur Jhagra to write letters withdrawing from the International Monetary Fund’s (IMF) deal.

    Umar said Tarin had asked both provincial finance ministers to request the federal government to renegotiate the IMF agreement due to the recent floods and the devastation caused both in KP and Punjab.

    “Can anyone say this isn’t good advice?”

    Umar accused the Pakistan Democratic Movement (PDM) of acting against the state’s interest and international commitments by voting and speaking out against legislation related to the Financial Action Task Force (FATF) and IMF agreement during PTI’s tenure.

    He said that Tarin, as a former finance minister, had every right to “give advice” to Jhagra and Leghari. “There is nothing wrong in Tarin speaking to Jhagra and Leghari on the phone and giving advice.”

    “If Jhagra felt that there was something wrong in it, then he would not have brought himself before the nation,” he added.

    Taking a jibe at the government, Umar posed a question: “Tell me if you are asking money from foreign governments, then why can’t you ask the IMF to give us space this year to use our money for flood-related expenses?”

    ‘Bring Khan to power but not at the cost of Pakistan’: Miftah Ismail

    Finance Minister Miftah Ismail said that Shaukat Tarin should leave politics and “Asad Umar and Taimur Jhagra should be ashamed of themselves”.

    “Imran Khan should ask the nation for forgiveness. Taimur Jhagra should resign and Shaukat Tarin should quit politics. Is this why you do politics?”

    He termed the PTI’s move the “most shameful thing”, saying that the real faces of PTI leaders have now been exposed.

    Referring to the IMF Executive Board meeting, which is set for today (August 29), Miftah said that by the will of God, the country will hear good news tonight after the IMF approves the pending tranche.

    Miftah Ismail also asked PTI supporters to question party Chairman Khan about whether the letter Jhagra wrote was in the state’s interest. “Do support Imran but tell him he is not bigger than Pakistan. Bring him to power but not at the cost of Pakistan.”

    “When they are writing letters against Pakistan’s interest, it is your responsibility to say no. Consider Pakistan’s interest to be sacred. If Pakistan’s interest is not sacred to a person, he is not fit to govern the country.”

  • IK back on live TV: High Court suspends ban on IK’s speeches

    IK back on live TV: High Court suspends ban on IK’s speeches

    The Islamabad High Court (IHC) on Monday (August 29) suspended the Pakistan Electronic Media Regulatory Authority’s (PEMRA) recent notification that banned television channels from airing Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s live speeches.

    IHC Chief Justice Athar Minallah suspended the notification till September 5 after hearing the arguments and issued notices to the regulatory authority and Attorney-General of Pakistan Ashtar Ausaf Ali.

    The IHC chief justice said that PEMRA “does not have the authority” to issue such notifications.

    Justice Minallah asked Imran’s counsel if he defended Imran’s comments.

    “Can judges be threatened like this,” he asked, recalling the human rights violations that took place in the last three years.

    “I am saying this with a heavy heart that judges should not have been threatened. It is disappointing that the [incumbent] government is doing exactly what happened in the last three years,” he said.

    Justice Minallah pointed out that a woman judge was threatened. “Did your leader not say that he won’t spare her? If they had said something like this about me, it would have been fine […] But a woman judge?”

    The PEMRA ban was issued on August 21 after Imran Khan threatened Additional District and Sessions Judge Zeba Chaudhry, DIG and IG Islamabad.

    Imran Khan is set to host a telethon today (August 29) to appeal for funds for the flood affectees.

  • ‘Bhai tera chakka nahi bhulay ga’: Momin Saqib meets Hardik Pandya

    ‘Bhai tera chakka nahi bhulay ga’: Momin Saqib meets Hardik Pandya

    Pakistani cricket fan, Momin Saqib, who rose to fame for his “maaro mujhe maaro” reaction video after Pakistan’s World Cup loss to India in 2019, posted a couple of videos on Twitter where he is meeting Hardik Pandya and Virat Kohli after the India-Pakistan Asia Cup 2022 match in Dubai.

    “Bhai tera chakka nahi bhulay ga!”

    In the video, he can be seen greeting Virat Kohli and Hardik Pandya after the match.

    With an unbeaten innings of 33 runs on 17 balls, Hardik Pandya led India to victory with a maximum on the third last ball of the game. In addition, he took 3 wickets and bowled some vicious short deliveries that held Pakistan to 147 runs.

    Saqib praised Pandya for winning and expressed excitement for the India-Pakistan final on September 11.

    He can be seen meeting Virat Kohli in another video. “Good to see him back in form,” he wrote. “What a game tonight! Shall see you in the Final!”

    Kohli responded to Saqib’s “congratulations” on the victory by saying, “Eh ta chalda rehnda aa, tusi vi ta nairray aagaye si” (It is a part of the game. You guys also came very close).

    Pakistan will play its second game at the Asia Cup against Hong Kong on September 2 (Friday) at 7pm.

  • Dengue cases on the rise in Punjab

    According to a statement issued by the Secretary of Health Punjab, 32 cases of dengue virus have been detected across the province in the last 24 hours.

    At least 70 cases of dengue were reported in Punjab on Sunday.

    According to the Health Department, a total of 1,034 dengue virus cases have been reported in 2022.

    441 cases of dengue were reported in Lahore alone.

    Read more- All you need to know about dengue

    Amid the increase in cases of dengue, the district administration of Rawalpindi has launched a crackdown and sealed 58 buildings for finding dengue larvae and filed cases against 41 people.

    Citizens have been advised to cooperate with the health teams and closely adhere to SOPs in order to avoid contracting the dengue virus.

  • Number of flood affectees may cross 33 million, warns Climate Change Minister

    Number of flood affectees may cross 33 million, warns Climate Change Minister

    Federal Minister of Climate Change Sherry Rehman warned on Sunday (August 28) that the number of those affected by the floods may cross 33 million as the devastating floods continue.

    She said that the government, supported by the United Nations (UN) and other humanitarian agencies, is leading the humanitarian action.

    “Kabul River is still at very high flood level at Nowshera as more than 300,000 cusecs of water was crossing the river,” she said, adding that with 500,000 cusecs, water levels in River Indus at Taunsa, Sukkur and Chashma are at “high flood level”.

    Calling the floods “a perfect storm”, Sherry Rehman added that as relentless rains had battered the southern parts of the country, the floods in the Indus River devastated the northern areas.

    Updating on the relief efforts, she said that as rain has subsided in some areas, the National Disaster Management Authority (NDMA) and Pakistan Army have amped up rescue efforts.