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  • Govt’s debt rises to Rs5.53 trillion with recent Rs35.4 billion borrowing

    Govt’s debt rises to Rs5.53 trillion with recent Rs35.4 billion borrowing

    The government of Pakistan has secured an additional debt of Rs35.4 billion during the week ending on May 24, 2024, bringing the total net borrowing for the ongoing fiscal year 2024 to Rs5.53 trillion, according to the latest estimates from the central bank.

    Government borrowings this fiscal year have consistently outpaced those of previous years, indicating a persistent reliance on external financing. The borrowing is classified into three primary categories: budgetary support, commodity operations, and other purposes.

    For the week in question, net borrowing for budgetary support amounted to Rs24.52 billion, while loans for commodity operations totaled Rs13.07 billion. Conversely, a net amount of Rs2.19 billion was repaid under the “others” category.

    Cumulatively, for fiscal year 2024, borrowings for budgetary support have reached Rs5.68 trillion. In contrast, there has been a retirement of Rs149.47 billion in loans for commodity operations and Rs5.48 billion for other categories.

    The principal sources of financing for budgetary support are the State Bank of Pakistan and scheduled banks. This fiscal year, the government has repaid a net total of Rs1.07 trillion to the central bank. This repayment includes Rs598.84 billion by the Federal Government, Rs423.28 billion by the Provincial Government, Rs38.19 billion by the AJK Government, and Rs5.16 billion by the GB Government.

    On the other hand, scheduled banks have lent a net total of Rs6.75 trillion. The Federal Government borrowed Rs6.9 trillion from these banks, while the Provincial Government retired Rs151.49 billion.

    This pattern of borrowing underscores the government’s heavy dependence on domestic financial institutions to meet its budgetary needs amidst ongoing economic challenges.

  • Gold price increases by Rs700 to Rs241,000 per tola

    Gold price increases by Rs700 to Rs241,000 per tola

    The price of gold in Pakistan saw a notable increase on Tuesday, with 24-karat gold reaching Rs241,000 per tola, marking a Rs700 rise from the previous session.

    This hike comes despite efforts to maintain prices below their actual value to accommodate the reduced purchasing power among consumers. Currently, gold prices are set Rs3,000 lower than their market cost.

    In a broader context, last week witnessed a mild recovery in Pakistan’s bullion market. The price of 24-karat gold edged up by Rs300, settling at Rs240,300 per tola.

    The Karachi Sarafa Association reported an additional increase this week, with 24-karat gold rising by Rs600 to Rs206,619 per 10 grammes. In comparison, 22-karat gold was priced at Rs189,400 per 10 grammes.

    Silver prices remained stable, with 24-karat silver selling for Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international stage, spot gold traded near $2,331.69 an ounce, experiencing a decline of 0.81 per cent from the previous close. The global gold market is currently influenced by uncertainties surrounding potential interest rate cuts by the Federal Reserve.

    This ambiguity has caused confusion among market participants regarding the future trend of inflation, contributing to the recent depreciation in gold prices.

    The fluctuating gold prices in Pakistan reflect a combination of local economic conditions and international market trends, illustrating the intricate balance between domestic fiscal strategies and global economic influences.

  • Sania Mirza: ‘Abhi love interest dhoondna hai’

    Sania Mirza: ‘Abhi love interest dhoondna hai’

    A video of Indian tennis player Sania Mirza is circulating on social media in the newly released teaser for the upcoming episode of ‘The Great Indian Kapil Show’ on Netflix, which features the tennis ace alongside fellow Indian female athletes Saina Nehwal and Mary Kom.

    Host Kapil Sharma said, “Shahrukh Khan once said he’d love to play Sania Mirza’s love interest in a biopic about her life.”
    Sania Mirza replied, “Abhi mujhe pehle love interest dhundna hai (I have to find a love interest first).”

    Sania was married to Pakistani cricketer Shoaib Malik from 2010 until 2024, when her father confirmed that she filed for a divorce (known as Khula) after Shoaib announced his third marriage to actress Sana Javed.

  • Netizens react hilariously to Behroze Sabzwari’s remarks about Khan’s drinking

    Netizens react hilariously to Behroze Sabzwari’s remarks about Khan’s drinking

    Renowned Pakistani actor Behroze Sabzwari recently appeared on a podcast with Adnan Faisal on his YouTube channel FHM Pakistan in which he defended Chairman PTI Imran Khan’s character by stating, “I’ve shared a drink with him [Imran Khan] on numerous occasions, and he has never consumed more than one.”

    As expected, the small clip has gone viral on social media websites and people have opinions.

    One user posted that the hilarious situation is like a friend defending him in front of his father.

    Many users pointed out the apparent hypocrisy in former Prime Minister Imran Khan’s speeches about developing “Riyasat-e-Madina” – a model of Islamic State founded on Islamic principles and laws.

    And then there were also PTI-supported accounts, some of whom claimed the video was “fake” and “propaganda”.

  • Bollywood actress Kangana Ranaut leads in Lok Sabha elections

    Bollywood actress Kangana Ranaut leads in Lok Sabha elections


    Bollywood actress Kangana Ranaut who contested from a BJP ticket in Himachal Pradesh for the first time, has taken a significant lead over her rival candidate. She had 325,925 votes while the Congress candidate Vikramaditya Singh had 283,101 votes.
    In an interview to Indian media, Kangana said, “I’m not going anywhere! I’m here to serve the people of Himachal Pradesh.”
    When asked about the trend of decreasing votes for Modi’s party, she laughed saying, “Maybe someone else will have to pack their bags and leave”

  • USA will deploy snipers for Pak-India match on June 9

    USA will deploy snipers for Pak-India match on June 9

    It’s nothing less than a war zone when arch-rivals Pakistan and India clash and the USA is prepared for it.

    USA will deploy snipers during the India-Pakistan T20 match in New York. The police department has prepared a complete security plan while the Special Weapons and Tactics (SWAT) force will also support with special weapons.

    Some of these officials will be on duty in the stands as well. Nearby parks will remain closed, and fans entering the venue will be searched and screened in the same manner as is commonly seen at airports.

    Pakistan will face India on June 9 at Nassau County Cricket Stadium in New York.

  • Gold medalist to shoe-seller; two youths killed in Karachi

    Gold medalist to shoe-seller; two youths killed in Karachi

    Two incidents of youth being robbed and killed in Karachi have been reported in the past three days.


    20-year-old Abdul Basit was murdered by two robbers upon resistance near the Nasir Jump area of Korangi. He belonged to Quetta and used to sell slippers.


    An investigation has revealed that Basit had given money and mobile phones to the robbers but the robbers still shot him dead.


    Another incident that is making waves is the death of 27-year-old Itteqa Moin, a gold medalist mechanical engineer, and Hafiz-e-Quran who was killed on Saturday by robbers in Gulshan-i-Iqbal. The young man was pursuing an MBA from the Institute of Business Administration and got married a year ago.


    CCTV footage shows Itteqa returning from a bakery run when he was halted by two armed men on a motorcycle. They snatched his motorcycle, mobile phone, and cash, and started beating him, eventually shooting him dead.


    The family claims that the incident took place near their home and Itteqa had not put up resistance but was killed while the police’s version says that he did show “some resistance” and this provoked the robbers to open fire at him.


    SHO of the area has been suspended over failure to control crimes while the police investigation is ongoing.


    Police said that in Korangi Crossing, citizens caught two robbers and handed them over to the police in a severely injured condition. One of them died of serious injuries from the violence while the condition of the other is critical.

    However, the robber who was handed over to the police was not involved in the murder of Abdul Basit.


    Dawn’s Imtiaz Ali reported on April 5 this year that data presented in front of a high-level committee shows that more than 250 Karachiites were shot dead and 1,052 others were wounded by street criminals between 2022 and March 28, 2024.

  • Oil marketing companies in Pakistan report 26% increase in sales

    Oil marketing companies in Pakistan report 26% increase in sales

    The sales of oil marketing companies (OMCs) rose by 7 per cent year-on-year (YoY) in May 2024, reaching a nine-month high of 1.39 million tonnes (MTs), compared to 1.30 MTs in May 2023, according to data released by the Oil Companies Advisory Council (OCAC).

    On a month-on-month (MoM) basis, oil sales surged by 26 per cent from April 2024, where sales were recorded at 1.10 MTs.

    In the ongoing fiscal year (11MFY24), cumulative sales stood at 13.83 MTs, a 9 per cent decline from 15.26 MTs recorded during the same period in the previous fiscal year (11MFY23).

    In May 2024, sales of Motor Spirit (MS) and High-Speed Diesel (HSD) increased by 1 per cent and 18 per cent YoY, amounting to 0.61 MTs and 0.64 MTs, respectively. Conversely, sales of Furnace Oil (FO) dropped by 24 per cent YoY to 0.07 MTs.

    On a MoM basis, the sales of MS, HSD, and FO rose by 14 per cent, 37 per cent, and 131 per cent, respectively.

    Attock Petroleum Limited experienced the highest increase in total oil sales, reaching 0.14 MTs, a 14 per cent YoY growth. Shell Pakistan Limited (PSX: SHEL) followed with a 13 per cent YoY increase to 0.10 MTs. 

    Pakistan State Oil (PSO) recorded an 11 per cent rise, reaching 0.67 MTs. In contrast, Hascol Petroleum Limited (HACOL) saw a 39 per cent YoY decline to 0.04 MTs.

    Compared to the previous month, the sales of PSO, APL, SHEL, and HASCOL increased by 19 per cent, 42 per cent, 23 per cent, and 51 per cent MoM, respectively.

    In 11MFY24, all OMCs reported a decline in sales.

    In May 2024, PSO maintained its dominance in the OMC industry with a market share of 47.9 per cent. APL and SHEL held market shares of 10.1 per cent and 7.2 per cent, respectively, during the review period.

  • Itna bara haar, kiska aur kitnay paison ka?

    Itna bara haar, kiska aur kitnay paison ka?

    A groom attracted more attention than he should have in Punjab Kot Addu’s district on his wedding day when his uncle gave him a 30-foot-long currency garland as salami.

    The garland, which was several times longer than the groom’s height, had Rs50 and Rs100 notes attached and was worth Rs500,000. 

    The groom, Sanaullah, got married in Kot Addu’s Mirpur Phagal area. His uncle Sajjad Hijana gave him the currency garland as salami.

    Guests from the groom’s side stayed busy handling the garland during the event.

  • Vawda refuses to offer unconditional apology in contempt case

    Vawda refuses to offer unconditional apology in contempt case

    Senator Faisal Vawda has refused to render an unconditional apology to the Supreme Court in the contempt of court case, saying that his remarks were not different from others.

    In his defence, Vawda submitted transcripts of Prime Minister Shehbaz Sharif, Jamiat Ulema e Islam-Fazl chief Maulana Fazlur Rehman and Pakistan Tehreek-e-Insaf (PTI) leader Raoof Hasan’s speeches wherein they had passed hard-hitting statements against the judiciary.

    Vawda strongly criticised the judiciary over six Islamabad High Court (IHC) judges’ letter to SJC alleging intelligence agencies’ interference in judicial matters and also alleged dual nationality of Justice Babar Sattar of IHC.

    On May 15, the senator, in a press briefing, asked the court to show restraint in the contempt of court proceedings over his anti-judiciary remarks.

    He also asked the Supreme Court to withdraw the contempt charges against him, saying that the purpose behind the controversial press briefing was the country’s well-being.