The Islamic Ideology Council has declared the Supreme Court’s verdict of granting first wives the right to terminate their marriage upon the husband’s second marriage without their permission be against Sharia.
In a landmark verdict, the Supreme Court had decided to give the first wife the right to terminate the marriage if her husband marries for the second time without her permission.
On October 23, the top court’s three-member bench headed by Justice Mansoor Ali Shah announced the decision in an 18-page ruling which stated that the first wife can terminate the marriage contract if her husband undertakes a second marriage without her consent.
Chairman of the Islamic Ideological Council Raghib Naimi said in a statement that there is no prohibition in Sharia on a man’s second, third or fourth marriage. He explained further that the decision to give the first wife the right to terminate the marriage if her husband remarries without her permission is illegal, and according to the constitution, no law can conflict with the rulings in Islam as described in the Qur’an and Sunnah.
He asserted that the decision of the Supreme Court needs to be respected but added, “We have the right to give an opinion on it based on the rulings of Sharia.”
However, the recent decision of the Supreme Court, according to Mufti Raghib Usmani, aligns with the “land of law” but contradicts Sharia principles. He announced that the Council of Islamic Ideology will include a discussion of the Supreme Court’s ruling in its upcoming meeting agenda.
Actress and stage artist Nargis has filed a case against her husband, Majid Bashir, in Lahore on Friday. Despite the case being registered, the suspect has not been arrested yet.
In the FIR, she alleged that her husband Majid Bashir, “wanted to put my property documents, cash, and farmhouse in his name,” and that “the accused wanted to usurp a 9- kanal plot.”
According to the actress, when she refused, “He subjected me to torture, repeatedly punched me in the face with an official pistol, tortured me in front of household staff and my nephew, and locked me in a room.”
She further alleged that her husband also threatened to kill her if she did not hand over the farmhouse, gold, and more money.
According to the police, she was allegedly assaulted by her husband, Inspector Majid Bashir, in Lahore’s Defence C area.
“After the quarrel, she also came to the police station last night but has not filed any complaint yet,” police added.
Nargis, who married Inspector Majid Bashir a few years ago, now runs a beauty salon after having stepped away from the entertainment industry.
“No application has been received from Nargis’s family so far; if we receive a complaint, action will be taken according to the law,” police said.
Earlier, it was reported that Nargis’s brother had reached out to the police and told them that his sister had been beaten black and blue by her husband.
A leaked clip from ‘Kabhi Main Kabhi Tum’ has stirred suspense and apprehension among fans.
The clip shows ctor Fahad Mustafa applying fake blood during makeup and then dramatically collapsing to the ground.
The intense scene has viewers speculating if his character might face a heartbreaking fate, making fans eager to see how the story unfolds.
Fahad Mustafa can be heard telling Badar, “Mein ek baar giru ga baar baar nhi,” as he readies himself for the scene. Meanwhile, the makeup artist applies fake blood to Mustafa, setting up what appears to be an intense moment. Fahad also sings the song ‘Vida Karo’ often associated with goodbyes, increasing the tension and worrying legions of fans.
Hints of a sad ending or hopeful twist: As Kabhi Main Kabhi Tum nears its end its much-anticipated finale, fans are hoping for a happy ending, especially hopeful because writer Farhat Ishtiaq is known for writing heighted emotions in her script but ending the drama on a happy note. Her previous projects such as Humsafar and Diyar-e-Dil are good examples here. Both dramas explored deep emotions and sadness but still gave viewers hope towards culmination. This track-record has ignited hope among fans that Mustafa’s character might be going through a tough time, but this will not be a final goodbye and Sharjeena will forgive him.
Actress Naeema Butt who plays a supporting role in Kabhi Main Kabhi Tum, recently shared a farewell video, suggesting her character will not appear in the final episode.
The excitement extended beyond the set when ARY CEO Salman Iqbal shared an Instagram story about the leaked video. He tagged Fahad Mustafa and asked, “Tu kahi mar tu nhi jayega na?? (You’re not going to die, right?)” The Main Abdul Qadir hu actor jokingly replied, “Pressure bohat hai maalik.” (The pressure is high, boss).
As the Kabhi Main Kabhi Tum finale approaches, fans are eagerly awaiting to see if this beloved story will follow a familiar pattern of hope after heartbreak or take a different route entirely. Either way, the drama has already made a lasting mark on its audience, and its ending is sure to spark conversations for days to come.
Fans are not in ther favor of Mustafa character meeting a tragic end. One fan commented, “He will be in the hospital and then Shajreena will relies how much she loves him, and they will patch up. You guys are still not use to these clichés.” Another fan threatened saying, “Agar is drama ke last me mustafa mara to bta derahi hun India se Pakistan aake director ka sar phaad dena hai Maine Ye mat karna.”
Earlier, it was announced highly awaited finale of Kabhi Main Kabhi Tum- starring Hania Aamir and Fahad Mustafa- will premiere in cinemas across Pakistan on November 5.
The post said, “Watch the final twist unfold in cinemas across Pakistan. Booking is now open!” teased the network, sparking excitement among fans who have closely followed the show’s ups and downs.
Senior analyst Nusrat Javed, while talking on WE News, recently predicted that the founder of Pakistan Tehreek-e-Insaf (PTI), Imran Khan, will be taken into “military custody” in the coming days.
“I am informing you that those for whom Qazi Faiz Isa is being humiliated are going to be taken into military custody in a few days,” claimed Nusrat Javed.
He also stated, “The Target of Tehreek-e-Insaf supporters is not only Qazi Faiz Isa, but the entire judiciary; whoever gives decisions against them, they will humiliate and disgrace them.”
According to Javed, the message has been clearly conveyed to the judiciary. When the host of the show asked Javed whether what happened to former Chief Justice of Pakistan (CJP) Qazi Faez Isa was immoral, he replied, “Leave what happened to him in London. When Qazi went to get a donut with his family, was he not humiliated? After that old video went viral, did that donut shop not become a landmark for people?”
Javed then asked a rhetorical question directed at PTI supporters: why don’t they treat ex-CJP Saqib Nisar the same way. “Saqib Nisar roams around Lahore freely. The travesty of justice in his era was unheard of. What did he do to constitutional avenue? Has anyone asked him while he’s roaming around in Pakistan or abroad? Has anyone ever asked him in public where the dam he was campaigning for is,” asked Nusrat.
Earlier this week, a large group of PTI supporters and leaders gathered near Chancery Lane outside London’s Middle Temple to protest against former Chief Justice of Pakistan Qazi Faez Isa.
Dozens of PTI supporters and party leaders, such as Sayed Zulfi Bukhari, Sahibzada Jahangir and former MNA Maleeka Bokhari, made speeches outside the venue.
Later, videos emerged of some infamous PTI supporters waiting for Isa’s car to come out of the building while hurling abuses at him.
Interior Minister Mohsin Naqvi said the vehicles of the former CJP and the Pakistan High Commissioner in London were “attacked”, condemning the incident.
In a statement posted on X, he ordered the National Database and Registration Authority (Nadra) to take immediate steps to identify the attackers through footage and take legal action against them.
The statement added that further action would be taken through an FIR to block their identity cards and cancel passports.
It further said that the attackers’ citizenship will be revoked immediately.
“We cannot remain silent on this incident,” Naqvi said in the statement, questioning why there was no security provided to the ex-CJP amid threats.
Actress Veena Malik’s long standing feud with religious cleric Mufti Qavi has shifted into the fifth gear with the actress’ allegation that he secretly monitors actresses.
“Mufti Qavi secretly monitors all the actresses. He knows everything about everyone,” Veena said on Hafiz Ahmed podcast.
Malik then said that the controversial cleric once told her, “You possess beauty and charm.”
She also talked about other matters including participation in Bigg Boss, and failed marriage.
She said, “In the past, I enjoyed working on the Indian reality show Bigg Boss, but I never understood why people still criticize me for it. I even received threats after the show. Before becoming a part of the show, there is a written contract, that clearly states that there will be 56 cameras inside and 56 cameras outside the house at all times. It is their choice what to show and what not to show.”
Answering the podcast host’s question about Mufti Qavi, she said, “Mufti Qavi secretly watches all the actresses and all their shows. He once told me, ‘You have beauty too.’ So, I asked him, ‘How do you know that I have beauty and charm?’”
“The way I was shown in Bigg Boss, how did Mufti Qavi know all that? That was the question I asked him then, upon which he got angry.”
She also said, “If honor and humiliation are in the hands of a human being, they will not take a minute to ruin your life, I don’t understand how people can be so hard-hearted.”
Mufti Qavi once criticized her in the past and said, “Veena Malik can watch Bigg Boss with her children?”
She replied, “My children are well aware of my work and they can see everything with me.”
Earlier, Rumours are circulating on social media about actress Veena Malik’s marriage once again, following her teasing of fans and the public with hints about the mystery man in her life.
When Geo Digital had a special conversation with her regarding this matter, she said, “This important change in life has been kept in front of everyone. When I finalise the date of the wedding, I will tell everyone. I will even reveal the groom’s face.”
She laughed and added, “Those who are eager to see Shehryar Chaudhry’s face will get their wish fulfilled on the wedding day.”
Remembering the past, Veena shared, “I started my career at a very young age and then decided to get married soon.”
“Shehryar liked me but kept it to himself. On the other hand, I was busy with my career and life. During that time, I also studied for six years and completed my B.Sc and Masters, but I had no intention of getting married or settling down. It all happened very suddenly, and believe me, I am happy to feel all these emotions now. As for the children, they are more understanding now,” she explained.
Veena Malik married businessman Asad Bashir Khattak in Dubai in 2013, and they have two children. However, the marriage ended after three years, with Malik citing incompatibility as the reason.
“Shehryar Chaudhry belongs to a well-established family in Islamabad. He has a business of cars and property. Our first few meetings were in Islamabad because I am also from there. In these brief meetings, I found Shehryar to be a wonderful person. He is educated, handsome, and also a Hafiz of the Quran, and that is a quality that won my heart,” she shared.
“I wanted a life partner who was both religiously and worldly connected,” she said.
The shocking moments continued on the Bigg Boss 18 1 November 2024 episode, even after the Diwali special episode. Salman Khan greeted the audience and the house contestants, saying Happy Diwali to them. Tiger actor Rajat Dalal and contestant Alice Kaushik were two housemates shown on a camera answering the question. Salman said that the housemate, Rajat Dalal, is entirely dysfunctional and does not care what Alice does in this game. He also stated that she’s been quite theatrically overreacting to many minor issues.
As the most exciting controversy in this Bigg Boss 18 1 November 2024 episode, the host broke the news that Kanwar Dhillon denied the proposal story. Salman said Kanwar had publicly stated during an interview that he never intended to marry Alice when he asked her out. Kanwar Dhillon is an actor and her boyfriend. The actress was left heartbroken and crying after this. Seeing him accept that Kanwar is her world left millions seeking answers. When both met during the shooting for the new television serial, which started their love saga, the audience lavished them for their on-screen chemistry. The pair was again seen posting pictures with each other on their respective Instagram accounts.
Inside the Bigg Boss 18 house, the actress stated, “Meri puri life hi voh insaan hai” (That guy is my whole life).
In addition, she stressed that she only accepted Kanwar’s proposal because he had expressed his desire to marry her and settle down with her.
Realizing that her boyfriend said, “Alice aur me nahi yaar, maine shaadi ka nahi bola,” Alice was taken aback and burst into tears. Talking about such statements with her friends in the Bigg Boss 18 house, she revealed that her mind went blank. She was in pain as she listened to her boyfriend’s statement. Considering she was upset, her friends told her not to worry and that she could speak to him outside the Big Brother house.
Salman Khan also addressed Rajat Dalal for being double-faced. His host displayed screenshots of some of the audience’s opinions to illustrate how they perceive him and his weaknesses. He told Rajat that he needed to form genuine connections in the house since he did not have anyone to support him.
The Bigg Boss 18 1 November 2024 episode was as emotional for many fans as the Alice crying scene. However, in the teaser of tomorrow’s Weekend ka Vaar, Salman Khan declares the first two wild cards in the Bigg Boss 18 house to be Digvijay Singh Rathee and Kashish Kapoor. Keep in touch to get more information about the show.
Female police officer ASP Syeda Shehrbano Naqvi is one of the candidates in line to assume the role of the Head of Pakistan Women’s Cricket.
Geo Super report reveals that the Pakistan Cricket Board (PCB) is looking for a Head of Women’s Cricket, with some government officials being considered strong candidates for the job.
Geo Super quoted sources saying that ASP Shehrbano Naqvi who has been in the limelight since February this year when she rescued a woman from a mob in Lahore’s Ichra Bazaar. Earlier, she was involved in launching a unique initiative for pets. ASP Sheharbano Naqvi, along with the IG Punjab Dr Usman Anwar, inaugurated one-of-a-kind Pet Park to Lahore.
Lately, the female ASP surfaced online to present the stance of Lahore police on the alleged rape case of Punjab College.
Among other candidates for the slot is former Lahore deputy commissioner (DC) Dr Rafia Haider, a PCB official told The Current. They also said that the former Lahore DC, and not ACP Shehrbano, was likely to replace Tania Mallick who stepped down on Wednesday to pursue new career opportunities.
Mallick had started her job at the board in October 2021.
PCB COO Salman Naseer stated in a presser, “Sohaib Sheikh and Tania Mallick were key members of the PCB management team, making meaningful contributions to our progress as an organisation. Sohaib was part of the core team that launched the HBL PSL in 2016, successfully delivering four seasons, and he returned to produce another high-quality event earlier this year.”
He appreciated the erstwhile officer, stating: “Tania worked with dedication to uplift women’s cricket in Pakistan, making strides at the grassroots level to expand the pool of players. Alongside PCB’s ongoing support, her efforts were recognised internationally by the ICC, where she served as one of the two Full Member representatives on the ICC Women’s Committee.
“The PCB appreciates their hard work, dedication and contributions, and we wish both Sohaib and Tania every success in their future endeavors.”
Among other candidates is a former deputy commissioner of Lahore who served in the city during Mohsin Naqvi’s tenure as caretaker Chief Minister Punjab, but the process of selection is underway.
India 86 for 4 (Gill 31*, Jaiswal 30, Ajaz 2-33) trail New Zealand 235 (Mitchell 82, Young 71, Jadeja 5-65, Washington 4-81) by 149 runs. Get the latest New Zealand vs India 3rd Test Match Day 2 update.
Ravindra Jadeja picked his 14th Test five-wicket journey as New Zealand were bowled out for 235. He delivered 22 continuous overs in the sweltering conditions of Mumbai to help in this effort. Nonetheless, India lost the advantage as three wickets fell in the last two overs of the Day’s play, with the team ending Day 1 at 86 for 4.
Jadeja had to bowl the dull middle session, which even saw Washington Sundar leave the field due to heat to rehydrate. And the batters received the drinks at intervals of just under three overs.
Daryl Mitchell and Will Young scored a half-century, suggesting that the two batsmen almost increased the score. Jadeja’s well-timed intervention saved this, as Mitchell and Young put on 87 runs between them in a practically dry-weather partnership.
The collapse from 159 for 3 to 235 relieved India, which was on the verge of suffering its second series of whitewashes at home. The first one happened a long time ago, in 1993. This result was also crucial for World Test Championship points. But the last two overs were a bummer for them.
They were in a favorable position, having lost the toss but then waking up to being able to bat in ideal batting conditions when it mattered the most after Tom Latham won yet another critical toss. He oversaw New Zealand’s early advancement but lost Devon Conway to Akash Deep around the wicket. A push for pace without Jasprit Bumrah could only handle so much. R. Ashwin was the first spinner called upon to bowl in the eighth over. He was tipped to be the most likely spinner to take a wicket.
Latham scored 28 off 44 before he was prised out following a frustrating one-two by Washington. Washington got the inside edge of one ball and took the outside edge of the next ball, displacing the top of the off stump from virtually the same angle. Washington beat Rachin Ravindra’s off stump for the third time in three attempts with a similar delivery, leaving New Zealand at an unstable 72 for 3.
When Jadeja slowed the pace of the ball now and then, it did turn. But he was searching for swift changes. However, Young and Mitchell appeared to be entirely formed regarding their batting. The sweeps and reverse sweeps were valuable tools, and Young even stepped down the track to pop the ball up without hesitation. Although this was his first fifty in the series, Young has projected that he has been more at ease on the crease than the other players.
Siraj, Ashwin, and Washington bowled from the other end, but Jadeja continued from his. At the end of the opening, he almost got what he was after with a high pace and turned to boot. Now, he was in it. He bothered the batsman with the stump by changing pace. He sent Glenn Phillips packing for one that did not turn, and Zoe made his way past Zaheer Khan and Ishant Sharma into the top five Indian wicket-takers.
The third day of New Zealand vs India has begun, with India batting at 195 for 5.
JoJo Siwa has taken teen entertainment by storm as a child entrepreneur. Jojo Siwa net worth is approximately $20 million in wealth, and also how she has invested it.
When you think about the youngest multimillionaires in the entertainment industry, Joelle Joanie “JoJo” Siwa is a name worth mentioning. This multi-talented schoolgirl has $20 million worth of talent if the boundaries between entertainment spheres were ever to be dissolved within one person. Only one can do it all: a singer, dancer, actress, YouTuber, and many more.
This article will examine JoJo Siwa’s net worth and how she makes money, focusing on her YouTube channel and other social media platforms. Let’s start our topic with a quick overview of the Jojo profile summary!
Her Profile Summary
Jojo Siwa Net Worth
$20 million
Born
May 19, 2003
Nationality
American born in Omaha, Nebraska
Become a Millionaire at
15
Occupations
Singer, dancer, actress, and YouTuber
Source of Wealth
Music, YouTube, Dance Moms, and JoJo Bows
Asset Classes
Real estate, merch, books, and cars
Early Life
Joelle’s biography and all the specifics of her rise to fame include competing points. She is a native of Omaha, Nebraska. Jojo was raised by her parents, Tom and Jessalynn Siwa. It was only natural that Jo Jo started dancing as a child with her mother. Her mother is a professional dance teacher.
Young JoJo’s life was warmed by the stage presence of dance performances and tapes filled with rigorous warm-up sessions. A vibrant dance-loving girl made her way to the screens in the series Dance Moms and movies such as Abby’s Ultimate Dance Competition.
JoJo kept her professional career while excelling in her studies by engaging in online school. Moreover, she has been able to embrace her differences and officially came out as a member of the LGBTQ+ community in 2021. Siwa has been dating Kylie Prew, which adds even more to the relationship dynamics since Siwa already has connections with numerous other stars.
JoJo Siwa Career
Early Dancing Career
Siwa took her significant first step into the entertainment spectrum at nine. She participated in the second season of Abby’s Ultimate Dance competition. This earned her a spot as the youngest participant among many contestants. She made it to the fifth position in week 9. In pursuing finishing on an even stronger note, Siwa was eliminated from the show.
Later, she participated and became relatively popular in ‘Dance Moms, resulting from an audition for Miller’s ALDC Dance competition team in 2014. The show established Siwa and her mother, Jessalyn, when they became regulars. As her mother, Siwa had not made an appearance in this season of the show.
Beginning of Her Music Career
Siwa released Boomerang in May 2015, along with I Can Make You Dance. The first song, Boomerang, is about teen bullying. This song’s music video has more than 1 billion views.
Two years after releasing the first singles, Siwa signed a contract with Nickelodeon and made her film debut. The actress began her film career in the movie Blurt! Alongside Jace Norman, she began to expand her horizons in the entertainment industry.
Currently, Siwa’s music is enjoyed by over a million of her fans through her Spotify pages. For Siwa’s new Spotify profile, she seems to have a minimum of 25 million streams. It includes the new streams she is accumulating from these pages. Estimating how much approximately ten streams would make on Spotify, Siwa gets about $0.04. This suggests Siwa earns $100,000 in revenues alone. Another profile that fits her elementary-friendly audience on the channel is Siwa JoJo (Kids). She’s accumulated over 155 million streams and nearly half a million followers, translating into approximately $620,000.
Source of Income: JoJo Siwa Net Worth
JoJo Siwa’s career began on the talent show Abby’s Ultimate Dance Competition. And here she placed fifth. Thanks to her success, she was cast in Dance Moms and featured on the show for two seasons. She became famous through these appearances and later created a YouTube channel in 2015. These factors contribute to the jojo siwa net worth. Below is detailed information about her source of income:
YouTube
JoJo Siwa has over 12.3 million subscribers on YouTube. She has since rebranded her channel, XOMG Pop. Additionally, it promotes the pop group she manages, XOMG. Jojo is also involved in vlogging and posts music and dance videos, which amount to over 3 billion views on her channel.
The average monthly revenue earning is between $2,000 and $32,100. It makes her yearly revenue between $24,100 and $384,800. Interestingly, her Jojo Siwa YouTube channel has only about 417k subscribers. The channel’s earnings range from $38,500 to $615,300 per year and contribute significantly to Jojo Siwa’s net worth.
TikTok
45.8 million people admire her. Most of her videos are about dancing or singing. She earns approximately $1,300 a video. Moreover, Jojo has uploaded 1616 videos and accumulated roughly $2.1 million over all the videos. A significant number of viewers makes her suitable for sponsorship.
Products and promotions
Siwa disclosed a collaboration with a fashion accessories and jewellery company, Claire’s. The partnership was to make hair bows, which she used to wear. That product conquered pupils in the United Kingdom. According to Forbes, 80 million of them have been sold around the globe. Forbes claims the cost for hair bows is between five and sixteen dollars. It gives a rough estimate of $400 million in total revenue. Lord knows how much Claire’s Company paid her in that deal, so her revenue from the bows remains unknown.
As per the deal between Siwa and Claire, she also supplied a line of cosmetic kits. However, in 2019, there was an announcement from the US Food and Drug Administration stating that the products contained high asbestos levels. It compelled Claire to withdraw those products from the market. The agreement also featured Siwa and J.C. Penny, where the two collaborated to produce a line of bedroom decor, dolls in her likeness, and related accessories and books for young children.
Events/ Tours
In November 2018, D.R.E.A.M. The tour was introduced as her opening tour. It commenced in May 2019 and extended through March 2022, with several performances being cancelled owing to the COVID-19 pandemic. The tour was carried out across several states in America, Canada, Australia, England, Scotland, Wales, and Ireland.
As for Hershey Entertainment, out of the 96 tours she prepared, 80 were sold out. She was able to make a staggering revenue of $27 million. Here, she was allocated 20% of her earnings from Nickelodeon. She can also be hired in other capacities, including corporate events, private appearances, or other performances wherein her charge is the base fee of $200,000.
TV/Fim
Because of her immense fan base, she has gained access to some TV shows and films. She has participated in multiple competitions and shows like Abby’s Ultimate Dance Competition, Dance Moms, and Celebrity Family Feuds, among other appearances as herself. She has also featured in 2 films, Blurt! and The J Team, and voiced the characters of Jay and Kira in Angry Birds 2.
Read Also: Who Is Samantha Lorraine? New ‘Dora The Explorer’ Movie To Star
How is Jojo Siwa’s Net Worth Invested?
Real Estate Investments:
JoJo Siwa has a lavish residence built in Tarzana, California. It is touted with distinct features and color patterns unique to her taste.
The real estate properties are an essential aspect of her assets, making her house a good site for shooting her videos.
Entertainment Ventures:
JoJo plows a lot of her resources into her brand by promoting her music, tours, and other productions to help her reach a niche market.
Producing content or engaging in collaborations on YouTube are tactically sound options to increase her fan base and get money.
Merchandise Line:
JoJo Siwa’s signature goods, which constitute bows, clothing, and accessories, are solid profit makers for her business.
Due to her agreements with top-selling stores such as Walmart and Target, her merchandise line boosts her income by a large degree.
Equity in Brands and Partnerships
Using her name and popularity, JoJo expands her portfolio by obtaining equity in brands she works with.
Such partnerships are strategically selected based on the brand image of the singer, which is to be children’s oriented products and family brands in general.
Music and Content Production:
She also uses some of her money in her image by making music and albums that help her brand draw attention when released.
On the other hand, she uses the proceeds back in the business to make high-quality YouTube and other videos so that her audience is.
Final Thoughts
It is no secret that JoJo Siwa’s creative work with incredible twists has earned her millions of fans across the globe. She is still in her twenties and has gained fame and cream at a young age. Jojo Siwa’s net worth will only increase year after year.
JoJo Siwa’s multifaceted career has brought her money, fame, and opportunities. It is fair to say these attributes have made Ms. Siwa the successful and well-occurring internet persona she is today. This is also reflected in the accomplishments she has been receiving and the positive feedback she has also had, flourishing business in the palm of her hand.
The United States (US) Dollar on Friday evening took a dive against the Pakistani rupee on the Google currency converter, leaving traders perplexed.
As per the details, the USD crashed to Rs152.62 from Rs277.50 earlier in the evening. While no statements were issued by Google or Morningstar Inc that provides the search giant with data for its currency converter, it was probably an erroneous entry that was fixed moments after the glitch was first noticed.
It is pertinent to note that the glitch wasn’t the first of its kind as on June 7, 2023, a similar case was observed when the value of the rupee dropped sharply only for it to turn out as a simple data entry error.
Such errors have also occurred back in 2022 and 2018, leaving many confused. Had this been true, there would be great economic and business implications.
However, there has been no change in the economy to suggest a rise in value of the rupee of this magnitude.
One of the few entities that could have been responsible behind such a large rise in the value of the rupee is the State Bank of Pakistan (SBP). While it does hold the power to artificially increase the value of the rupee by buying it up using foreign reserves, there is no evidence to support such a large activity.
Instead, the SBP actually reported its foreign exchange reserves to have grown by $116 million to $11.15 billion on October 25.
While such a rise is a dream for many businesses and citizens alike in Pakistan, the lack of evidence that suggests such a change in the value of the rupee makes it exactly that: a dream.
