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  • Bank deposits in Pakistan hit all-time high, showing 17.80% increase in a day 

    Bank deposits in Pakistan hit all-time high, showing 17.80% increase in a day 

    In a statement released on Friday, the State Bank of Pakistan (SBP) announced that the country’s bank deposits had reached an all-time high.  

    On October 23, there was a notable increase of 17.80 per cent, amounting to Rs3,986 billion, compared to the figures on October 22. 

    According to the central bank, the total banking deposits for October 2023 reached a historic level of Rs26,000.398 billion. 

    Rupee expected to fall further 

    In other news, a Tresmark report suggests that the Pakistani rupee is anticipated to face pressure against the US dollar in the ongoing week until the completion of the International Monetary Fund’s (IMF) initial review of the country’s $3 billion loan programme.  

    The local currency experienced a depreciation of Rs2 or 0.60 per cent against the US dollar during the week, concluding at Rs287.03 on Friday.  

    It’s worth noting that the foreign exchange market was closed on Thursday due to a public holiday. 

    The IMF’s evaluation of Pakistan’s bailout package began on November 2, with expectations for the review to conclude by December 15. 

  • Agricultural boom: Pakistan’s farm exports surge by more than 70%

    Agricultural boom: Pakistan’s farm exports surge by more than 70%

    In October 2023, Pakistan experienced a notable surge in exports, marking a 13.5 per cent increase to reach $2.7 billion, as reported by the Pakistan Business Forum (PBF).  

    Simultaneously, the trade deficit saw a 4.5 per cent reduction during the same period, indicating positive economic developments. 

    Chaudhry Ahmad Jawad, the Vice President of PBF, highlighted the remarkable 73 per cent growth in the agriculture sector for October.  

    Notably, exports of rice and sesame seeds played a pivotal role in this expansion, showcasing a diversification of the country’s export portfolio and underscoring the robustness of the agricultural industry. 

    Jawad emphasised the imperative for Pakistan to boost its service exports, particularly in information and communication technology (ICT), to address the balance of payment deficit.  

    Drawing a comparison with India, he noted India’s remarkable achievement in ICT exports surpassing $140 billion in fiscal year 2022–23, contrasting with Pakistan’s stagnant growth at $2.6 billion in fiscal year 2021–22.  

    The key differentiator, as Jawad pointed out, is the focus on technology and engineering in India over the years, leading to a skilled labour pool. 

    While acknowledging the challenges in the short to medium term, Jawad expressed optimism about Pakistan’s potential for growth in the ICT sector. He suggested addressing the skills gap by offering crash courses to enhance the capabilities of IT graduates. 

    Jawad further underscored concerns raised by IT companies in Pakistan, stating that despite an abundance of talent, the technology sector faces difficulties due to a lack of demand and challenges in remitting money outside Pakistan.  

    He called for government intervention to tackle these issues, pointing to the State Bank of Pakistan’s efforts in 2020 and emphasising the need for ongoing attention to restore confidence. 

    Finally, a PBF official commended the caretaker IT minister’s goal of increasing ICT exports to $10 billion and bringing renowned payment gateways like PayPal and Stripe to Pakistan.  

    However, he raised concerns about existing limitations on exporters’ remittances, urging the finance division to address this critical issue. 

  • World Cup 2023: India defeats Netherlands by 160 runs

    World Cup 2023: India defeats Netherlands by 160 runs

    In the last group stage match of the World Cup 2023 India defeated Netherlands by 160 runs.

    This match between the two teams was played in Bengaluru and it is the last match before the World Cup semi-final in which India won the toss and decided to bat first.

    India’s inning:

    India scored 410 runs for 4 wickets in given 50 overs, Shreyas Iyer remained unbeaten by scoring 128 runs. Apart from this, KL Rahul played an innings of 102 runs, captain Rohit Sharma scored 61 runs while Virat Kohli and Shibman Gill scored 51 runs each.

    For the Netherlands, Bas de Lede took two wickets, while Paul van McKearn and van der Merwe took one wicket each.

    Netherland’s inning:

    Chasing India’s target of 410 Netherland’s whole team returned to the pavilion on 250 runs in 47.5 overs.

    From the Netherlands side, Teja Nidamanuru scored 54 runs, Sybrand Engelbrecht 45, Colin Ackerman 35, Max’O David 30, Captain Scott Edward 17, Logan Wan Beek, and Roelof van der Merwe scored 16 runs each.

    From India’s side Jasprit Bumrah, Muhammad Siraj, Kuldeep Yadav, and Ravindra Jadeja took two wickets each.

  • Ayeza Khan apologises for her previous post on the Palestine genocide

    Ayeza Khan apologises for her previous post on the Palestine genocide

    Actress Ayeza Khan was caught in a controversy over a social media post addressing her silence on the war on Palestine. Several users criticised the actress for writing that praying daily is better than pointing fingers and blaming others.

    “Because I know that praying daily is more powerful than posting daily, please pray for the world as much as you can and avoid pointing fingers and blaming each other on this platform. We all have children and loved ones, and we can all feel the pain. We cannot imagine how painful it is for them, but I’m keeping my faith in Allah, and very soon, Allah will bring justice, Ameen.”

    After severe backlash, Khan deleted the statement and apologised by clarifying her support for Palestine:

    “I would like to take a moment to address an issue that has been misinterpreted and circulated. I won’t attempt to justify or explain because God knows that my intentions were not malicious, but I may have failed to articulate it well. I take full responsibility for this, both personally and on behalf of my team. I sincerely apologize to those who were hurt by my statement. I appreciate you all for bringing this matter to my attention, as I, too, am only human. I take full responsibility and assure you nothing of such sort shall ever happen again.”

    “While my awareness may not bring on immediate resolution,” the Chupke Chupke actress further penned, “I maintain faith in Allah in the possibility of change through prayer. Therefore, alongside our continuous awareness efforts, let us unite in prayer to end this cruelty. For indeed, we need Him and His divine help. My prayers are with the Palestinians.”

  • Three Arab countries refuse to cut off economic ties with Israel

    Three Arab countries refuse to cut off economic ties with Israel

    Saudi Arabia hosted an Arab-Islamic summit on Saturday, calling to end Israeli attacks on Gaza and rejecting the justification of Israel’s actions against Palestinians as self-defence.

    The summit also asserted that Israel end the siege of Gaza and allow humanitarian aid into the enclave, ceasing arms exports to Israel.

    It further insisted that the United Nations Security Council adopt “a decisive and binding resolution” to halt Israel’s “aggression” and demanded that the International Criminal Court probe “war crimes and crimes against humanity that Israel is committing” in the Palestinian territories.

    Crown Prince Mohammed bin Salman stated that Saudi Arabia “confirms that it holds the occupation (Israeli) authorities responsible for the crimes committed against the Palestinian people.”

    “We are certain that the only way to guarantee security, peace and stability in the region is to end the occupation, siege and the settlements,” he added.

    A number of countries, including Algeria and Lebanon, suggested that the attacks on Gaza be responded by disruption of oil supply to Israel and its allies in addition to cutting off economic and diplomatic ties that some Arab League nations have with Israel.

    However, at least three countries rejected the proposal, according to the diplomats who spoke on condition of anonymity, reports Dawn.

    These countries included the United Arab Emirates and Bahrain, both of whom normalised ties with Israel in 2020.

    Syrian President Bashar al-Assad remarked that without any stern measures against Israel, the summit would not be effective.


    “If we do not have real tools for pressure, then any step we take or speech we give will have no meaning,” said Assad, who rejoined the Arab fold this year after a long conflict over civil war in his country.

  • Racist Pakistan, now an apparent reality

    Racist Pakistan, now an apparent reality

    Afghan deportation under the Illegal Foreigners Repatriation Plan launched by the caretaker setup has instigated a huge humanitarian crisis in the country. As people who have called Pakistan home for decades leave unwillingly, their children strapped to their pitiful belongings in small trucks, three sets of views have become prevalent in the country.

    The first is propounded by the government: the situation of unrest and civil war has quelled in Afghanistan so it’s time for these refugees to go back. Because the land they come from is contributing to rising terrorism in Pakistan, their exit is inevitable. This narrative is deeply rooted in a superiority complex coming from hosting Afghans for decades, as is evident by the affirmative statements said as a foreword to every such explanation.

    The second is the humanitarian stance where it is claimed that people who have lived here for years are not alien anymore, giving them refuge has brought aid of millions of dollars to Pakistan, and that this forceful expulsion is against the rights of refugees.

    The third point of view stems from the ground realities. It is about the reality and not the narrative. This view is not just looking at the expulsion of Afghans, it is also seeing latent racism, poor execution of the plan, the rush in which it has been carried out, and the fatal flaws it carries. This view sees that the deportation is being carried out by an unelected government, blind raids are being conducted where people with legal documents are getting arrested, contrary to the claims of the government that only illegal foreigners will be arrested. It also shows video documents of the Pashtun community being targeted, even if they are Pakistani – picked up by the police and deported to foreign lands only because they look like, or talk like, them. It sees families getting harassed, and children being separated from parents even though these guardians are desperately proving their Pakistaniat. It displays the human tragedy that is unfolding before our eyes without any media coverage.

    Some experts believe that the policy is part of a broader retaliation for the Afghan Taliban’s failure to rein in the Tehreek-i-Taliban Pakistan (TTP), even as the militant group orchestrates attack upon attack on Pakistani soil.

    Videos have emerged where parents are showing the birth certificates of children who do not hold a CNIC yet are sent to the Chaman border for the journey to Afghanistan. Anas, a 16-year-old boy, managed to call his father, pleading with him to save him from being deported while the SHO in front of the holding centre nonchalantly said that people sent by mistake are not going to be reproduced by the authorities. Media presence is already banned in the holding centres and there is no way to question this. The mainstream media is also not giving the matter due attention.

    The government is turning a blind eye to the suffering of four million Afghan refugees forced to leave on the brink of a hard winter to a land foreign to them since they were born here.

    The government does not need to emulate any country when it is itself setting an unprecedented level of cruelty.

    Siding with xenophobia is a xenophobic act in itself.

  • Have a SIM and don’t use it? PTA will charge Rs. 200 on disowned sims

    Have a SIM and don’t use it? PTA will charge Rs. 200 on disowned sims

    In an effort to ensure the responsible usage of mobile SIMs, the Pakistan Telecommunication Authority (PTA) has announced that citizens looking to disown their SIM cards will be charged Rs. 200 apiece from next year.

    The new charge will be applicable from January 1 across the country, including Azad Jammu and Kashmir and Gilgit Baltistan. It will be levied on all SIM cards under a customer’s use for less than six months. The service to return or disown the unused SIM cards is available till December 31.

    In a statement, PTA said, “With this decision, the PTA stays committed to national safety and security while ensuring uninterrupted quality services to all telecom consumers”.

    The step has been taken in light of an initiative that started in 2016, addressing the concerns of rampant distribution of free SIM cards by mobile operators and their potential misuse.

    A survey from PTA highlights that some users knowingly or unknowingly hand over their SIMs to unauthorized people, for monetary benefits. These SIMs, once abandoned by the user, lead to disconnection. Such users then frequently acquire new SIMs from different operators, hence the cycle continues.

    Mobile users can verify the status of SIMs registered under their Comput­erised National Identity Card (CNIC) by going to the web address “cnic.sims.pk” or by SMSing their CNIC number to 668.

    A one-time wai­ver will apply in cases where illegal SIMs are iss­ued without the knowledge or consent of consumers.

    PTA believes fraudsters exploit the practice of free SIM disowning, as they conveniently get new ones after disowning the old ones.

    However, PTA also stressed that mobile firms should develop a mechanism to address the concerns of consumers with illegally issued SIMs registered under their CNICs, as these customers should not bear the cost of disowning such SIMs.

  • Tariff hike of Rs1.72 per unit approved for K-Electric consumers 

    Tariff hike of Rs1.72 per unit approved for K-Electric consumers 

    The Economic Coordination Committee (ECC) has granted approval for quarterly tariff adjustments of Rs1.72 per unit for K-Electric, alongside government guarantees of Rs100 billion for Pakistan State Oil (PSO) and a Rs20 billion credit facility for Punjab’s Green Cooperative Initiative. 

    The ECC session, presided over by Federal Minister for Finance Dr Shamshad Akhtar and attended by other federal ministers and senior officials, addressed various summaries submitted by ministries such as Interior, Maritime Affairs, Energy (Power Division), Energy (Petroleum Division), Poverty Alleviation and Social Safety, and Defence. 

    The decision to adjust the tariff for K-Electric was reached after careful consideration of a summary presented by the Ministry of Energy regarding “Uniform Quarterly Tariff Adjustments for K-Electric Consumers on a par with XWDISCOs 2nd and 3rd Quarterly FY 2023.” 

    Following in-depth discussions, the ECC concluded that the tariff rationalisation through adjustments for K-Electric, aligning with the uniform Quarterly Tariff Adjustment (QTA) guidelines already issued to NEPRA, will be applicable to the consumption of July, August, and September 2023.  

    According to The News, these adjustments are set to be recovered from K-Electric consumers in December 2023, January 2024, and February 2024, respectively. 

  • Here’s why KIA Pakistan is teasing ‘Yasir and Alvin’ 

    Here’s why KIA Pakistan is teasing ‘Yasir and Alvin’ 

    KIA Motors Pakistan recently stirred curiosity on social media by mentioning “Yasir and Alvin” in a post, leaving some oblivious while surprising others.  

    Clarifying the mystery, KIA Lucky Motor Corporation is hinting at the introduction of a sedan resembling the Toyota Yaris and Changan Alsvin.  

    This serves as a clear indication of the automaker’s intent to enter this segment. The upcoming car is expected to match the size of the Toyota Yaris and Changan Alsvin, eliminating the possibility of it being an entirely different model.  

    This move suggests that, for the time being, the Corolla and Civic segments remain unthreatened by a new entrant.  

    While the brand has not disclosed the car’s details or its name, it is apparent that a new vehicle is on the verge of being launched. 

    Considering the current economic challenges in Pakistan, with soaring car prices, launching a new vehicle seems like a risky decision.  

    The nation is already grappling with high petrol costs and escalating inflation, making the timing of this introduction noteworthy. 

  • World Cup 2023: England defeats Pakistan by 93 runs

    World Cup 2023: England defeats Pakistan by 93 runs

    England defeated Pakistan by 93 runs in the 44th match of the World Cup 2023 played at Eden Garden, Kolkata.

    England’s inning:

    England won the toss and decided to bat against Pakistan. The English team scored 337 runs for the loss of 9 wickets in the allotted 50 overs.

    England’s first wicket fell on 82 runs, Iftikhar Ahmed dismissed David Mullan for 31 runs, and then Haris Rauf sent Jonny Bairstow back to the pavilion for 59 runs.

    Ben Stokes played an inning of 84 runs, but he was bowled by Shaheen Afridi, Jurot got out after scoring 60 runs, Harry Brook scored 30 runs, Jos Buttler scored 27 runs and Moeen Ali scored eight runs.

    On behalf of Pakistan, Haris Rauf and Muhammad Wasim got three wickets, Shaheen Afridi got two wickets and Iftikhar Ahmed got one wicket.

    Pakistan’s inning:

    In pursuit of England’s 338 runs, the Pakistan team was bowled out for 244 runs in 43.3 overs.

    Opener Abdullah Shafiq was dismissed on zero on the second ball of the inning by David Willy while Fakhar Zaman was for 1 run. Captain Babar Azam scored 36, Muhammad Rizwan 38, Salman Ali Agha 51, Shaheen Afridi 25, Wasim Jr. 16, and Haris Rauf scored 35 runs.

    On behalf of England, David Wily took 3 while Adil Rashid, Moeen Ali, and Gus Atkinson took two wickets each.

    The national cricket team will leave for home from India tomorrow:

    Pakistan team will fly out of India in two groups.

    First batch of 11 members of the team will depart from Kolkota at 8:55 am tomorrow November 12 via Emirates flight EK571. Remaining members will fly from Kolkota at 08:20 pm tomorrow November 12 via Emirates flight EK573

    Players from Sialkot will be landing to their respective city from Emirates flight EK618 on November 13.

    Player and members from team management from KPK, Islamabad and Rawalpindi will be landing in Islamabad via EK612 on November 13

    Players from Lahore and team management will be landing from two different flights. EK622 and EK624 on November 13

    Hasan Ali will stay back in India. He will return back to Pakistan on November 22.

    Team director Mickey Arthur will stay in Dubai from November 13 to 16 before departing for Lahore on November 16.