Current Final

Author: News Desk

  • Pakistan’s foreign currency reserves down by $328 million

    Pakistan’s foreign currency reserves down by $328 million

    State Bank of Pakistan (SBP) on April 28, revealed that the central bank’s foreign exchange reserves fell by 3 per cent on a weekly basis.

    The central bank’s foreign currency reserves were $10,558.2 million on April 23, a $328 million decrease from the previous day’s total of $10,885.7 million. according to the SBP, this decline was caused by external debt and other payments.

    Pakistan’s total liquid foreign currency reserves, comprising net reserves held by banks other than the SBP, were $16,668.2 million. Banks held a total of $6,110 million in net reserves.

    SBP’s foreign exchange reserves reached an all-time high of $20.15 billion in the week ending August 27, 2021, after Pakistan received a general allocation of Special Drawing Rights (SDRs) worth $2,751.8 million from the IMF on August 24.

    Pakistan bought $2.5 billion using Eurobonds on March 30, 2021, by offering attractive interest rates to lenders in order to enhance foreign exchange reserves.

    Read more: All banks to remain open this Saturday

    On July 9, 2019, it received the first loan amount of $991.4 million from the IMF, which helped to boost reserves. The IMF released the second loan tranche of approximately $454 million in late December 2019.

  • Prominent personalities condemn ‘chor chor’ slogans in Madina

    Prominent personalities condemn ‘chor chor’ slogans in Madina

    Prominent personalities have come forward to condemn the chanting of “chor chor” slogans in Masjid-e-Nabawi against the visiting Pakistani delegation. In videos that are being widely shared on social media, Marriyum Aurangzeb can be seen surrounded by people yelling “chor chor” and another abusive words. Someone can be seen pulling Shahzain Bugti’s hair as well.

    Many prominent personalities including politicians, religious leaders and others have expressed their anger and disappointment over the incident.

    Maulana Tariq Jamil while condemning the incident said that disrespect of Haram Sharif is not acceptable in Islam.

    Former cricketer Shahid Afridi also came forward to condemn the incident. The star cricketer said the incident has damaged Pakistan’s image. 

    https://twitter.com/SAfridiOfficial/status/1519781042873421825

    PTI leader Ali Muhammad Khan also condemned the incident and called it “against the sanctity of the holy place”.

    PTI’s Asad Umar also spoke up against the incident.

    “I ask forgiveness to Allah for what has happened today at Roza-e-Rasool (PBUH),” Mohammad Yousaf tweeted.

    Kamran Akmal wrote, “Very shameful act done by some of our countrymen in #masjidnabawi Those who violated the sanctity of Masjid-e-Nabawi for political purposes should be banned.I condemn it. Sanctity of the holy place of the Prophet (PBUH)is a must & obligatory for all Muslims. Stop spreading Anarchy.”

  • Customs seizes smuggled liquor worth Rs6.48 million in Karachi

    Customs seizes smuggled liquor worth Rs6.48 million in Karachi

    During a raid on the outskirts of Karachi on Thursday, Pakistan Customs personnel recovered a massive quantity of imported liquor worth millions of rupees.

    According to a Customs spokesman, monitoring was increased at the Moachko checkpoint after the Customs Enforcement Collectorate got information that alcohol was being smuggled to Karachi from Quetta under the cover of official vehicles.

    When a car with a government license plate and an armed guard was sighted at the checkpoint, customs anti-smuggling personnel signaled the driver to pull up, but the driver instead sped away.

    When the officials gave chase, the driver of the car purposefully began hitting customs vehicles, and the guard resorted to firing. Because the road was packed and there was a threat to public safety, customs officers refrained from firing fire.

    According to a spokesman, when they were around Shershah Chowk, the driver and guard hopped out of the vehicle and fled, taking advantage of a traffic jam on the other side of the road. During a check of the vehicle, 348 liquor bottles worth Rs6,480,000 were seized, along with other items discovered.

    Read more: PTA to take action against advertising of illegal housing societies on social media

    The entire estimated value of the products and car was Rs10,480,000. An FIR has been filed, and a manhunt has been initiated to find the suspects.

  • PTI’s Qasim Suri attacked in Islamabad restaurant

    PTI’s Qasim Suri attacked in Islamabad restaurant

    Former Deputy Speaker of the National Assembly and Pakistan Tehreek-e-Insaf leader Qasim Khan Suri was attacked in the early hours of Friday at a private hotel in Islamabad. In the incident, Qasim Suri was unharmed, but his friend suffered a slight injury.

    Following the incident, Qasim Suri stated in a video statement saying that he was sitting in a hotel when a bunch of people suddenly appeared and attacked them.

    In his message on Twitter after the incident, Qasim Suri alleged that ‘PML-N goons’ allegedly carried out the attack. Suri has filed an application to register an FIR at the Kohsar police station.

    In a separate incident yesterday, the Pakistani delegation in Saudi Arabia was surrounded by people yelling “chor chor” when they made their way to Masjid-e-Nabwi in Madina.

  • PTA to take action against advertising of illegal housing societies on social media

    PTA to take action against advertising of illegal housing societies on social media

    The Pakistan Telecommunication Authority (PTA) instructed housing societies that do not have a legal No Object Certificate (NOC) to refrain from advertising unauthorized businesses on social media platforms.

    According to a news release, the PTA has been approached by the Lahore Development Authority (LDA) in response to a direction given by the Lahore High Court in a writ case on March 30, 2022, with regard to banning advertisements of illegal housing societies on digital and social media.

    All non-approved housing societies that operate without valid NOC from the concerned authorities are encouraged to desist from publicising the unlawful business on social media platforms, or else the PTA will take action in accordance with its legal mandate.

  • City Traffic Police Lahore to check overcharging, overloading by transporters on Eid

    City Traffic Police Lahore to check overcharging, overloading by transporters on Eid

    The Lahore Traffic Police have declared a crackdown on transport company owners who overcharge and overload passengers during the Eid holidays.

    According to Lahore’s Chief Traffic Officer (CTO), Muntazir Mehdi, thousands of people depart for their hometowns to celebrate Eid with their loved ones. It’s terrible that dishonest transportation owners take advantage of them, he says. Mehdi stated that police had developed a thorough plan to combat exploitation this year. He announced the deployment of at least 84 wardens at Lorry Adda, Badamibagh, Babu Sabu, Niazi Chowk, Thokar Niaz Beg, Shahdara Chowk, Begum Kot Chowk, Gajjumatta, and other key bus stations.

    The traffic police have also issued orders to transportation companies to display fare information prominently on their vehicles. Those who charge high rates to commuters deserve no concessions, according to the CTO, who directed all circle officers to speak with transporter owners in their respective zones. He announced the impoundment of vehicles found overcharging or overloading.

    Police is taking precautions against overcrowding to ensure safe travelling, according to Mehdi, who also stated that additional police officers have been stationed at the city’s entry and exit points. He asked people to phone Police Helpline 15 if they needed assistance or had a complaint. He also stated that people who overload their buses will face consequences.

    Read more: Shopkeepers fined in Islamabad for not adhering to DC rates

    The CTO stated that transportation owners and drivers are required to charge a fixed rate and display a fare list prominently on the vehicle. According to Mehdi, automobiles should be seized if their owners are proven to be overcharging and overloading. Traffic teams have been dispatched to ten locations to investigate overcharging and overloading.

  • Saudi court jails man for recording Masjid-e-Nabawi incident

    Saudi court jails man for recording Masjid-e-Nabawi incident

    A Pakistani national named Muhammad Tahir has been sentenced to three years in prison by a court in Saudi Arabia for filming a video inside Masjid-e-Nabawi and sharing it on TikTok. He will have to pay a fine of SAR10,000.

    He was traced by his audio.

    The incident took place in April. Responding to the incident in Saudi Arabia, federal Minister for Information Marriyum Aurangzeb said that there is a specific group who chanted those slogans. She also said that she prayed for those people at Masjid-e-Nabawi. In videos that were widely shared on social media, Pakistani delegation including Marriyum Aurangzeb was seen surrounded by people yelling “chor chor”.

    PM Shehbaz Sharif went on a three day visit in Saudi Arabia. He was warmly received by the Governor of Madina Prince Faisal Bin Salman and high level Saudi officials.

    Federal Ministers Bialwal Bhutto-Zardari, Miftah Ismail, Shahzain Bugti, Marriyum Aurangzeb, Khawaja Asif, Chaudhry Salik Hussain, and MNAs Dr Khalid Maqbool Siddiqui and Mohsin Dawar accompanied the Prime Minister.

  • Eid-ul-Fitr 2022: Here’s why Pakistan is paying a lot more than last year for clothes, food

    Eid-ul-Fitr 2022: Here’s why Pakistan is paying a lot more than last year for clothes, food

    Cities are decked with spectacular illumination around shopping malls, major streets, and side lanes as Eid shopping begins. Despite growing inflation, there is a lot of hustle in commercial areas.

    But do you know how much higher we are paying for everything this year, from food to clothing, than we did last year?

    Undoubtedly, the PTI-led government struggled to contain inflation, which experts said, was the outcome of record-high global commodity prices and 51 per cent devaluation of the Pakistani rupee (PKR).

    In January 2022, inflation climbed by 13 per cent year on year basis compared to 12.3 per cent in the previous month and 5.7 per cent in January 2021. It is pertinent to mention that inflation reached an all-time high of 14.6 per cent in January 2020.

    The Consumer Price Index (CPI) accelerated in March 2022 over the same month a year ago, according to the inflation bulletin released by the Pakistan Bureau of Statistics (PBS). The index remained higher compared to the preceding month during five out of the past six months.

    Inflation Comparison – January 2022

    General CPI inflation, increased by 13.0 per cent on a year-on-year basis in January 2022 as compared to an increase of 12.3 per cent in the previous month and 5.7 per cent in January 2021. On a month-on-month basis, it increased by 0.4 per cent in January 2022 as compared to decrease of -0.02 per cent in the previous month and a decrease of -0.2 per cent in January 2021.

    Urban CPI inflation, increased by 13.0 per cent on a year-on-year basis in January 2022 as compared to an increase of 12.7 per cent in the previous month and 5.0 per cent in January 2021. On a month-on-month basis, it increased by 0.1 per cent in January 2022 as compared to an increase of 0.3 per cent in the previous month and a decrease of -0.2 per cent in January 2021.

    Rural CPI inflation, increased by 12.9 per cent on a year-on-year basis in January 2022 as compared to an increase of 11.6 per cent in the previous month and 6.6 per cent in January 2021. On a month-on-month basis, it increased by 0.9 per cent in January 2022 as compared to a decrease of -0.5 per cent in the previous month and a decrease of -0.3 per cent in January 2021.

    Wholesale Price Index (WPI) inflation on a year-on-year basis increased by 24.0 per cent in January 2022 as compared to an increase of 26.2 per cent a month earlier and an increase of 6.4 per cent in January 2021. WPI inflation on a Month-on-month basis increased by 0.6 per cent in January 2022 as compared to a decrease of -0.2 per cent a month earlier and an increase of 2.5 per cent in a corresponding month i.e. January 2021.

    Urban Consumer Price Index (UCPI)

    The Urban Consumer Price Index of January 2022 increased by 0.06 per cent over December 2021 and increased by 12.99 per cent over the same month of the last year (January 2021).

    Month-on-Month Inflation

    Main contributors to month-on-month and year-on-year percentage changes are mentioned below:

    Increase in prices of food items: Pulse Masoor (6.13 per cent), Gram whole (4.79 per cent), Fruits (4.11 per cent), Besan (3.82 per cent), Pulse Gram (3.44 per cent), Pulse Mash (3.37 per cent), Wheat (2.68 per cent), Pulse Moong (1.88 per cent), Meat (1.78 per cent) and Rice (1.28 per cent).

    Increase in prices of garments and other items: Woolen Readymade Garments (6.67 per cent), Solid Fuel (5.16 per cent), Hosiery (1.93 per cent), Motor Fuel (1.75 per cent), Cleaning & Laundering (1.59 per cent), Washing soap/Detergents/Match Box (1.46 per cent) and Liquefied Hydrocarbons (1.29 per cent).

    Year-on-Year Inflation – January 2021

    Edible items

    Increased: Cooking Oil (54.33 per cent), Vegetable Ghee (47.4 per cent), Mustard Oil (46.68 per cent), Pulse Masoor (41.3 per cent), Fruits (28.35 per cent), Gram Whole (24.7 per cent), Meat (22.38 per cent), Chicken (17.08 per cent), Pulse Gram (15.67 per cent), Beans (15.37 per cent), Pulse Mash (12.46 per cent) and Vegetables (11.58 per cent).

    Garments and others

    Increased: Electricity Charges (56.20 per cent), Liquefied Hydrocarbons (53.35 per cent), Motor Fuel (36.22 per cent), Footwear (25.47 per cent), Cleaning & Laundering (22.03 per cent), Washing soap/Detergents/Match Box (17.95 per cent), Motor Vehicle Accessories (14.04 per cent), Woolen Readymade Garments (13.03 per cent) and Plastic Products (11.72 per cent).

    Year-on-Year Inflation – March 2022

    CPI National for the month of March, 2022 increased by 12.72 per cent over March, 2021. The Urban CPI recorded an increase of 11.94 per cent while Rural CPI recorded an increase of 13.88 per cent.

    Edible items in urban areas

    Increased: Tomatoes (148.65 per cent), Mustard Oil (59.91 per cent), Vegetable Ghee (49.56 per cent), Cooking Oil (48.05 per cent), Pulse Masoor (38.32 per cent), Vegetables (34.92 per cent), Fruits (32.00 per cent), Gram whole (25.37 per cent), Meat (23.68 per cent), Chicken (19.59 per cent) and Beans (13.62 per cent).

    Edible items in rural areas

    Increased: Tomatoes (158.82 per cent), Cooking Oil (63.47 per cent), Mustard Oil (57.2 per cent), Vegetable Ghee (56.43 per cent), Vegetables (45.62 per cent), Fruits (37.80 per cent), Pulse Masoor (37.46 per cent), Meat (25.19 per cent), Beans (17.38 per cent), Wheat Flour (16.22 per cent), Chicken (15.09 per cent) and Tea (11.74 per cent).

  • Severe heatwave hits Pakistan

    Severe heatwave hits Pakistan

    The extreme temperature has been recorded in the month of April in Pakistan and India while the temperature of Lahore exceeded over 40 degrees Celsius on Thursday.

    The severe heatwave has threatened and puts lives of millions of people at risk. In view the imminent temperature, the Pakistani Government has issued a health advisory, asking people to strictly follow precautionary measures to deal with the situation.

    Federal Minister for Climate Change Sherry Rehman said, “A heatwave has hit South Asia with the temperature predicted to soar up to 49-50 degrees C. Precautionary measures must immediately be taken to prevent casualties and injuries from heat.”

    According to the Ministry of Climate Change, this year’s March was the hottest month since 1961.

  • Assets beyond known sources of income: NAB begins probe against Farah Khan

    Assets beyond known sources of income: NAB begins probe against Farah Khan

    The National Accountability Bureau (NAB) on Thursday ordered an inquiry against Farhat Shahzadi alias Farah Khan following allegations of accumulation of illegal assets beyond known sources of income, ARY News reported.

    In a press statement, the anti-graft watchdog has directed the DG NAB Lahore to conduct an inquiry against Farhat Shahzadi alias Farah Khan, a close friend of former prime minister’s wife Bushra Bibi, over allegations of illegal assets beyond known sources of income, money laundering and maintaining various accounts in the name of different businesses.

    “Huge turnover amounting to Rs847 million has been found in Farah’s account during last three years, which does not commensurate with her stated account profile,” the anti-corruption body said in a press release and added that these credits were received in Farah Khan’s personal account and withdrawn immediately within a short time period.

    The NAB further said: “While reviewing the income tax returns of Farhat Shahzadi, it was allegedly observed that her assets have significantly increased form the year 2018 onwards for unknown reasons.”

    Moreover, Farhat Shahzadi also found travelling to foreign jurisdictions; 9 times to the USA and six times to UAE, it added.

    FARAH KHAN DENIES ALLEGATIONS

    Earlier, Farah Khan has denied allegations against her, saying she never interfered in the governmental affairs, days after the opposition blamed her for having a role in transfer and postings in the Punjab province.

    The clarification from Farah Khan, who is considered close to former first lady Bushra Bibi, came after members from opposition parties and estranged PTI leader Aleem Khan blamed that she used to play her role in transfer of officials in the Punjab province.