Current Final

Blog

  • Interbank closing: Pakistani rupee gains 11 paisa against US dollar

    Interbank closing: Pakistani rupee gains 11 paisa against US dollar

    On Friday, the Pakistani rupee saw a slight improvement against the US dollar, appreciating by 0.04 per cent in the inter-bank market.

    The local currency closed at 278.57, a gain of Re0.11 from the previous day’s rate of 278.68, as reported by the State Bank of Pakistan (SBP).

    In recent months, the rupee has generally fluctuated between 277 and 279, with traders closely monitoring developments regarding the International Monetary Fund’s (IMF) Executive Board discussions on a new $7 billion Extended Fund Facility (EFF).

    Against major currencies, the performance of the Pakistani rupee on the last trading day of the week was as follows:

    CurrencyPrevious rateClosing rateChange
    British Pound366.39367.1980.4
    Euro308.95309.5863.15
    Saudi Riyal74.2474.212.9
    UAE Dirham75.8475.873.17
    Japanese Yen1.94021.95491.47
    Swiss Franc329.15330.821.67
    Chinese Yuan39.2539.326.91
    Exchange rates for today

    – The British Pound increased by 80.4 paisa, ending at 367.19 from 366.39 the previous day.

    – The rupee fell by 63.15 paisa against the Euro, closing at 309.58 compared to the previous rate of 308.95.

    – The Saudi Riyal declined by 2.9 paisa, ending at 74.21 from 74.24.

    – The UAE Dirham decreased by 3.17 paisa, closing at 75.87 compared to 75.84.

    – Against the Japanese Yen, the rupee depreciated by 1.47 paisa, closing at 1.9549 compared to 1.9402 the previous day.

    – The Swiss Franc gained 1.67 rupees, closing at 330.82 compared to 329.15 the day before.

    – The Chinese Yuan saw an increase of 6.91 paisa, closing at 39.32 from 39.25.

  • BYD says half of total vehicles sold in Pakistan will be electric by 2030

    BYD says half of total vehicles sold in Pakistan will be electric by 2030

    Up to half of all vehicles sold in Pakistan by 2030 could be electric, according to BYD Pakistan, a joint venture between China’s BYD and Pakistan’s Mega Motors. This target aligns with global goals for reducing emissions.

    BYD, a Chinese electric vehicle (EV) giant backed by Warren Buffett, recently announced its entry into Pakistan, which has a population of around 250 million.

    In a partnership with Mega Motors, the company plans to build an assembly plant by early 2026. However, they will begin selling cars later this year, following the launch of three models in August.

    According to Reuters, Kamran Kamal, BYD Pakistan’s spokesperson, mentioned in an interview that the company expects up to 50 per cent of all vehicles in the country to be powered by new energy sources, such as electric or hybrid technology, by 2030.

    Kamal, who also leads Hub Power, the parent company of Mega Motors, acknowledged this is a bold target given Pakistan’s auto market, which has traditionally been dominated by Japanese brands like Toyota, Honda, and Suzuki. In fact, vehicle sales recently hit a multi-year low as of June 2024.

    While some new players, such as South Korea’s KIA and China’s Changan and MG, have entered the market offering hybrid vehicles, BYD is the first major company focused entirely on new energy vehicles in Pakistan. Hybrid vehicle sales in the country have already doubled in the past year.

    However, experts like Muhammad Abrar Polani, an auto analyst at Arif Habib Limited, believe that while a 30 per cent adoption rate for electric vehicles is achievable by 2030, reaching 50 per cent may be more difficult due to challenges with charging infrastructure.

    Kamal confirmed that the Pakistani government plans to support the development of this infrastructure by offering incentives, and standards for EV charging stations have already been drafted. The government is also considering providing these stations with cheaper electricity.

    BYD Pakistan is working with two oil marketing companies to build a network of charging stations, aiming to set up 20 to 30 stations during the initial rollout of its vehicles. Initially, the company will sell fully assembled cars, which are subject to high import taxes, but Kamal stressed that their primary goal is to start assembling vehicles locally as soon as possible.

    The size of the new assembly plant is still being decided, with more details about the investment and collaboration with power company HUBCO expected later.

  • Muhammad Rizwan likely to replace Babar as Captain

    Muhammad Rizwan likely to replace Babar as Captain

    National team wicketkeeper-batsman Muhammad Rizwan is likely to be appointed captain in all three formats, replacing Babar Azam as the white-ball captain for the upcoming tour of Australia. Head coach Gary Kirsten reportedly discussed this with board officials and Babar in July, according to Geo.

    Babar’s absence from the captaincy role in the Champions ODI Cup suggests he may no longer be the captain of Pakistan’s white-ball team.

    If board officials agree on Rizwan, he will lead the team in all three formats.

  • Determined Alia Bhatt takes center stage on fiery poster for Karan Johar’s Jigra

    Determined Alia Bhatt takes center stage on fiery poster for Karan Johar’s Jigra

    Get ready for action, drama, and suspense as Bollywood actress Alia Bhatt stars in her latest film ‘Jigra’, releasing in October. The RRR actress shared the poster of the film with the caption, “Kahaani bahut lambi hai aur bhai ke paas waqt bahut bahut kam.”

    The film, produced by Karan Johar, written and directed by Vasan Bala, tells the story of a sister’s unwavering love and protection for her brother, played by Vedang Raina who was last seen in his debut feature film ‘The Archies.’


    The teaser trailer for Jigra is set to be released on September 8, 2024. Orgiginially scheduled for September 27, 2024, the film’s release date has been updated to October 11, 2024, giving fans a new date to look forward to in cinemas.

  • Yasir Shami granted bail in Aamir Liaquat video case

    Yasir Shami granted bail in Aamir Liaquat video case

    A Karachi court has confirmed bail for YouTuber Yasir Shami in a case involving the leak of inappropriate videos of the late televangelist Aamir Liaquat, a former member of the National Assembly, preacher, and host.

    Yasir Shami was already out on bail in the case with a bond of Rs. 500,000, while the other suspect, Liaquat’s ex-wife Dania Shah, is also out on bail in the same case.

    After the bail period expired, Yasir Shami appeared before the Karachi Sessions Court on September 5 and filed a new bail application. The court confirmed his bail under the same bond conditions.

    Speaking to the media after being granted bail, Yasir Shami stated, “I am a journalist, and my responsibility is to report the news.”

    His lawyer further added, “Shami did nothing wrong by sharing the news and did not break any laws.”

    In June 2022, Aamir Liaquat Hussain was found unconscious at his residence and was later pronounced dead after being shifted to the hospital. Before his death, he had been under severe mental stress. A few weeks earlier, videos featuring him without clothes went viral.

    Following Aamir Liaquat’s passing, his first wife, Bushra Iqbal, along with their son and daughter, filed a complaint against Dania Malik with the Federal Investigation Agency (FIA) Karachi in July 2022, alleging her involvement in leaking the videos.

    The FIA subsequently registered a case against Dania Shah under Sections 20, 21, and 24 of the PECA Act 2016 on October 10, 2022. She was arrested by the FIA from Lodhran, Punjab, in December 2022, but was later released on bail by a Karachi court.

    At one point, the Judicial Magistrate of Karachi, East, also charged Dania Malik in a case related to the leaking of an indecent video on social media. The case remains under trial.

  • Sindh govt defends its decision to buy vehicles worth billions

    Sindh govt defends its decision to buy vehicles worth billions

    The Sindh government has defended its decision to buy 138 double-cabin vehicles worth two billion rupees for Assistant Commissioners (ACs) in the province.

    “The Sindh government’s decision to allocate funds for new vehicles is a practical measure to ensure that field officers can perform their duties efficiently and effectively,” said a statement released by the provincial government.

    It further reads, “It is essential to provide these officers with reliable transportation to reach far-flung areas and respond promptly to emergencies and administrative responsibilities.”

    Stressing the need for new vehicles, the provincial government claimed, “Currently, most Suzuki Cultus vehicles under ACs have far exceeded their useful life, with many having run nearly 0.8 million kilometres.”

    “Ensuring that field officers are equipped with functional and reliable vehicles is not a luxury but a necessity for maintaining the integrity and effectiveness of the provincial administration,” the statement concluded.

  • National cricketer Muhammad Haris marries

    National cricketer Muhammad Haris marries

    Muhammad Haris, wicketkeeper-batter for the Pakistan cricket team and captain of Shaheen (Pakistan A), has announced he is married.

    The cricketer shared the good news on Instagram with pictures from his Nikkah ceremony on Friday afternoon.

    In the caption, he wrote, “Nikkah day and forever, Alhamdulillah for this blessing.”

    Fellow players and fans are congratulating him and expressing good wishes to Haris.

    Details about the cricketer’s marriage have not been revealed.

  • Fahad Mustafa’s very unusual alternate career path will make you laugh

    Fahad Mustafa’s very unusual alternate career path will make you laugh

    Renowned actor Fahad Mustafa recently appeared on The Knock Knock Show with Mohib Mirza, where he also discussed his career his career.

    Mirza asked him what he would have done if he had not become an actor, to which Mustafa responded, “If I were not an actor, my father would have opened a biryani restaurant for me.”

    “Before acting, my father took me to Faizan Shaikh’s home, who was already running a biryani restaurant.

    “Faizan Shaikh and his wife have a biryani business, and our families already knew each other,” he revealed

    According to him, the actor’s mother explained how the biryani business was managed and the challenges faced.

    “Faizan Shaikh’s mother told me about the herbs to add to the biryani and explained how the business is run.”

    He, thus, jokingly remarked, “If I hadn’t become an actor, I would have opened a biryani restaurant.”

    Mirza then asked nationally about the most debated concern: Will the biryani include potatoes?

    “I did not know biryani had potatoes in it, but my life would have become a potato,” he replied.

  • Naumaan Ijaz’s unexpected decision opened the door for Shaan Shahid’s film career

    Naumaan Ijaz’s unexpected decision opened the door for Shaan Shahid’s film career

    Shaan Shahid, the shining star of the film industry, has dazzled audiences for years with hits upon hits. However, few know that his successful return to the spotlight was sparked by Naumaan Ijaz’s sudden exit from the film Ghoonghat.

    Recently renowned director Syed Noor appeared as a guest on the Ambreen Fatima YouTube show. During the podcast, the host asked, “Tell me if you also had any involvement with Shaan Sahib’s comeback, what memories do you have about that?”

    Noor responded, “Yes, Shaan was actually a very talented artist. His first film was a hit, and so was his second. When someone hits it big in our film industry, they start casting the same person over and over. Shaan was very young at that time and kept doing films, but they continued to fail. Eventually, people stopped casting him, and he didn’t care much and went to America. I don’t know what he did there. But Madam Neelo [Shaan’s mother] often used to message me, asking to call Shaan. She would say, ‘Call Shaan,’ and then there was Javed Nami, who was Shaan’s PA, who would come and say, ‘Sir, please call Shaan.’”


    The Choorian director shared a fascinating story about Shaan Shahid’s journey, saying, “When we were planning the film Sangam and Ghoonghat, Shaan’s role was initially going to be played by Naumaan Ijaz. But he had some issues and had to leave, so I got the chance to cast Shaan. The producer was Shehzad Rafiq, and he was part of a group that made the film.”

    Talking about casting Shaan Shahid in the film Ghoognhat Syed Noor said, “When we announced that Shaan would be part of the film, the buyers of the film pulled out. They demanded their money back because they did not want to work with Shaan. The producer told me that I should work with someone else. I said that I would not work without Shaan. Eventually, they also asked me to leave. But I stood firm.”

  • Supreme Court upholds NAB amendments, rejects Imran Khan’s appeal

    Supreme Court upholds NAB amendments, rejects Imran Khan’s appeal

    The Supreme Court of Pakistan on Friday approved the intra-court appeal, upholding amendments in the National Accountability Ordinance (NAO).

    A five-judge bench headed by Chief Justice Pakistan (CJP) Qazi Faez Isa announced the 5-0 majority verdict and remarked that respondent former Prime Minister (PM) Imran Khan and other parties failed to prove NAO amendments unconstitutional.

    The apex court noted that the CJP and other judges “cannot be the gatekeepers of the parliament.”

    A larger apex court bench stressed, “whenever possible, the Supreme Court should strive to maintain legislation” enacted by the parliament.

    In 2022, the Pakistan Democratic Movement (PDM) led government made several amendments to NAO’s laws, including limiting the National Accountability Bureau (NAB) jurisdiction to investigate over Rs 500 million cases and restricting the tenure of the NAB chairman to three years.

    Imran Khan then moved the apex court, calling the amendments “legitimise corruption.”

    In September 2023, a Supreme Court bench led by the then CJP Umar Ata Bandial, ruled 2-1 to restore corruption cases, declaring Khan’s plea legitimate, which the provincials and federal government challenged.