In the fiscal year 2023–24, Pakistan’s exports, denominated in rupees, experienced a notable 25.54 per cent increase during the first quarter (Q1) compared to the previous year, as per the Pakistan Bureau of Statistics (PBS).
Between July and September 2023, exports amounted to Rs2,013,533 million, marking a 25.54 per cent boost from the same period in the previous year, according to PBS’s provisional data.
Looking at year-on-year figures, September 2023’s exports surged by 31.27 per cent, totaling Rs737,295 million, compared to Rs561,643 million in September 2022.
On a month-to-month basis, exports grew by 6.06 per cent, reaching Rs737,295 million in August 2023.
Key export categories in August 2023 included knitwear (Rs103,029 million), readymade garments (Rs74,608 million), bed wear (Rs69,234 million), cotton cloth (Rs51,891 million), oil seeds, nuts, and kernels (Rs46,571 million), cotton yarn (Rs33,815 million), rice and others (Rs32,324 million), towels (Rs25,116 million), rice basmati (Rs19,008 million), and miscellaneous articles, excluding towels and bed wear (Rs16,922 million).
On the other hand, imports during July to September 2023 (FY2023-24) totaled Rs3,560,763 million, showing a decrease of 2.45 per cent compared to the same period in the previous year.
In a year-on-year comparison, imports into Pakistan during September 2023 amounted to Rs1,189,167 million, a 2.52 per cent decline from September 2022.
Month-on-month data indicated a 10.62 per cent increase in imports in September 2023 compared to August 2023.
Key imported commodities in September 2023 included petroleum products (Rs162,087 million), petroleum crude (Rs146,179 million), liquefied natural gas (Rs75,331 million), palm oil (Rs61,388 million), plastic materials (Rs49,628 million), electric machinery and apparatus (Rs44,699 million), iron and steel (Rs44,191 million), mobile phones (Rs37,093 million), iron and steel scrap (Rs27,299 million), and pulses/leguminous vegetables (Rs22,208 million).
This marks a notable improvement from the $950 million deficit observed in July 2023, and a significant reduction compared to the $360 million deficit recorded in September of the previous year.
To provide additional context, in July of this year, Pakistan faced a more substantial current account deficit of $809 million, the highest since October 2022, according to SBP data.
This figure, while lower than the $1.26 billion deficit in July 2022, sharply contrasts with June 2023 when the country enjoyed a surplus of $500 million in its current account.
In terms of trade, central bank data shows that Pakistan’s exports of goods and services dipped to $2.654 billion in July 2023, down from $2.743 billion in July 2022.
Concurrently, total imports for July 2023 amounted to $5.03 billion, a decrease from the $6.07 billion recorded in the same period the previous year. In July of the preceding year, the trade balance in services registered a deficit of $32 million.
Furthermore, there was a noticeable decline in worker remittances, with a year-on-year drop of 19.28 per cent. On a monthly basis, remittances decreased by 7.32 per cent to $2.027 billion.
Pakistan International Airlines (PIA), the nation’s flagship carrier, is grappling with operational challenges caused by a shortage of fuel.
Concurrently, private airlines are capitalising on this situation for their own advantage.
In light of the disruption in PIA’s flight operations, private airlines have swiftly increased their fares. Domestic flights are now priced at a range of Rs40,000 to Rs70,000, with Lahore-Karachi routes reaching as high as Rs49,000 per seat.
Meanwhile, one-way fares from Karachi to Islamabad are commanding prices between Rs55,000 and Rs61,000.
This development follows a week of disruptions in PIA’s domestic flight schedule, resulting in a surge of intending passengers. A spokesperson for a private airline attributed the disparity in demand and supply to this sudden influx of travellers.
Simultaneously, PIA’s financial predicament is deepening, with the cancellation of 35 domestic and foreign flights. The interruption in fuel supply has also caused significant delays for both domestic and international flights across the country. Airline administrations have scrambled to create new departure schedules for these affected flights.
Regarding outstanding dues, the Pakistan State Oil (PSO) revealed that PIA owed Rs3.45 billion for fuel supplied between October 1 and 18, with an additional Rs195 million provided on the mentioned Thursday.
The total liabilities for the current month have reached Rs2.11 billion, compounding PIA’s existing debt of Rs26 billion accumulated over the years. A provisional agreement between PSO and PIA for daily fuel supply in exchange for daily payments has been established.
The current turmoil in PIA’s flight operations is primarily attributable to the suspension of fuel supply by the Pakistan State Oil due to non-payment of dues.
According to Samaa, the suspension has impacted Karachi, Lahore, Islamabad, and Peshawar, although international flights remain unaffected. PIA’s financial woes have already led to flight cancellations and delays, making the fuel supply suspension a significant setback for the struggling airline.
The State Bank of Pakistan (SBP) reported a notable weekly surge in foreign exchange reserves, with an increase of $67 million, reaching $7.7 billion as of October 13, as per the latest data release on Thursday.
In total, the nation’s readily available foreign reserves amounted to $12.9 billion, with commercial banks holding $5.2 billion in net foreign reserves. The central bank did not provide a specific explanation for this increase.
During the week concluding on October 13, 2023, the SBP’s reserves climbed by $67 million, reaching a total of $7,714.0 million, according to the SBP’s statement. This follows a previous week’s increase of $31 million.
Notably, in July of this year, the central bank’s reserves received a significant boost when Pakistan received an initial disbursement of approximately $1.2 billion from the International Monetary Fund (IMF), following the approval of a new $3-billion stand-by arrangement. Additionally, inflows from Saudi Arabia and the UAE contributed to this increase.
Nevertheless, the central bank’s reserves have faced pressure due to ongoing debt repayments, increased import expenditures following the easing of restrictions, and a lack of fresh inflows.
In the 17th match of the ICC ODI World Cup, India won its fourth consecutive victory in the event by defeating Bangladesh by seven wickets.
Bangladesh captain Najamul Hasan Shanto won the toss and decided to bat first in the match played in Pune.
Opening batsmen Tanzid Hasan and Liton Das put on a wonderful opening partnership of 93 runs in 14 overs and 4 balls, but then Hasan returned to the pavilion after scoring 51 runs off 43 balls.
Liton Das was then dismissed for 66, captain Najamul Hasan Shanto for 8, and Mehidi Hasan Miraz for just 3 runs. Tauheed scored 16 runs, Mushfiqur Rahim scored 38 runs and Mahmudullah scored 14 runs, taking Bangladesh to a total of 256 runs for the loss of eight wickets in the scheduled 50 overs.
Jasprit Bumrah, Mohammad Siraj, and Jadeja took two wickets each for India.
Chasing Bangladesh’s target of 257 runs, Indian batsmen went on the offensive from the start, with openers Rohit Sharma and Shubman Gill putting on an 88-run partnership, but then Rohit was dismissed for 48 runs.
Chasing the target, Gill scored a half-century but then returned to the pavilion after scoring 53 runs while Shreyas Iyer managed to score 19 runs. Virat Kohli once again batted responsibly and scored a magnificent century, the 48th of his ODI career. Kohli played an unbeaten innings of 103 runs against while KL Rahul remained unbeaten on 34 runs.
India easily chased down Bangladesh’s target of 257 runs in the 42nd over for the loss of three wickets and secured their fourth consecutive win in the event. Kohli was awarded the player of the match for his brilliant batting.
British prime minister Rishi Sunak landed in Tel Aviv, Israel, on Thursday morning to meet his counterpart, Benjamin Netanyahu and President Herzog.
During his meeting with Herzog, he said that it is vital to provide humanitarian aid to Gaza, stating, “Palestinians are victims of what Hamas has done. It’s important that we continue to provide humanitarian access,”
He, nonetheless, stressed on his full support to Israel to “defend” itself, “to bring security back” in the country to its people, and “to ensure the safe return of the hostages that have been taken”.
The United Nations has reported that one million people have fled their homes in Gaza, including about 352,000 people who are currently residing in UNRWA, the UN agency for Palestinian refugees.
The conditions of these shelters are described as “increasingly dire“.
121 people killed since yesterday
Al Jazeera spoke to a medical source who reported that 121 had been killed and 540 injured in the Gaza Strip since last night.
Additionally, WAFA has reported that a Palestinian man has been killed by Israeli forces while a child was killed in a refugee camp — both in the occupied West Bank .
The child was reportedly 14-year-old Ahmed Munis Sadouq who was shot in the head.
Others have been injured.
Gaza’s only cancer hospital closed
Al Jazeera reports that Dr Sukeyk, the director of the Turkish-Palestinian Friendship Hospital, has issued an alert that the fuel required to keep essential services running is extremely low and so are the medicines needed during chemotherapy treatment for cancer patients.
There are reportedly more than 9,000 cancer patients in the Gaza Strip with no other hospital to go to.
Doctors using vinegar to treat wound infections
Surgeon Ghassan Abu Sitta says he has resorted to using “vinegar from the corner shop to treat pseudomonas bacterial wound infections.”
“It’s come to that,” he said on X.
Vinegar from the corner shop to treat pseuodomonas bacterial wound infections. Its come to that. pic.twitter.com/mEE4haHMyj
The Israeli army has claimed to have targeted and destroyed hundreds of Hamas’s points in Gaza including anti-tank missile launch sites, tunnel shafts intelligence positions, and more.
They have reportedly also killed the fighters involved in October 7 attacks.
Hamas’s armed wing, the Qassam Brigades, confirmed the killings of three of its fighters on Wednesday.
US vetoes UNSC resolution calling for humanitarian halt
US President Biden has announced a pact with Egypt’s el-Sisi which will allow 20 trucks of humanitarian aid into Gaza through the Rafah border crossing.
Earlier, on Wednesday, US vetoed a UN Security Council resolution that, while condemning Hamas’s attack on Israel, called for a pause in the Israel-Palestine escalation and allow aid into Gaza.
The US was the only opponent in the resolution amongst the 12 members who voted in favour whereas Russia and the UK abstained.
US reasoning was that the Brazil-drafted text did not assert enough on Israel’s right to self-defence.
Israel police boss threatens to send anti-war protesters to Gaza
While people across the globe protest against Israeli atrocities in Gaza, some Israelis too, have taken to streets of Haifa to hold pro-Palestine demonstration.
Israel’s police chief responded by saying that there will be “zero tolerance” for pro-Palestinian protests in Israel and threatened the protesters with sending them to Gaza.
Six people have been reportedly arrested
“Whoever wants to become an Israeli citizen, welcome,” Shabtai said. “Anyone who wants to identify with Gaza is welcome. I will put him on the buses heading there now.”
— NEW: Israeli Police Commissioner Kobi Shabtai banned pro-Gaza demonstrations: “Whoever wants to be a citizen of Israel, is welcome. Anyone who wants to identify with Gaza, we will put him on the buses heading there now.”
A left-wing Israeli parliament member, Ofer Cassif has been suspended for 45 daya by the ethics panel of the Israeli parliament whose statements were deemed as anti-Israel.
In an interview, he compared Prime Minister Benjamin Netanyahu’s actions in Gaza to the Nazis’ ‘Final Solution’ against Jews in Europe.
Referring to the Hamas attack he claimed that “Israel wanted this violence”.
Cassif called the suspension “another nail in the coffin of freedom of political expression”.
1> החלטת ועדת האתיקה היא עוד מסמר בארון הקבורה של חופש הביטוי הפוליטי.
בכל אחד מראיונותיי הדגשתי את הגינוי המלא וסלידתי העמוקה ממעשי הטבח הנפשעים של חמאס. אמירותי הפוליטיות נגד הכיבוש והמלחמה אינן אמירות נגד ישראל, שכן שלום וצדק משרתות גם אותה ואת תושביה. pic.twitter.com/ilsKBSbwG3
Thor Pedersen has become the first ever man to have visited all the countries in the world without flying in an aeroplane. It took him a decade to do so but the major reason for the delay has been the pandemic which halted his journey in Hong Kong for nearly two years.
It all started when he found out that nobody has ever done this before and if he does it, he will be the first person to do it. In his initial estimate, it would take him approximately four years to travel the globe but Covid-19 turned things a bit topsy-turvy. Thor started the journey in 2013 and completed it in May 2023. The most peculiar part about it was that he never boarded a plane even once. He had the support of his family. His father said to him that even if you hear that one of us has died, do not come back on an aeroplane.
Thor says he required an average of USD 20 daily but it varied from country to country. In a country like Bolivia, $20 was way more than needed but in Singapore it was less than required.
He even did a job to support himself during his stay in Hong Kong. Considering the period of ten years and twenty dollars each day, the total amount needed would be between $70 thousand to $75 thousand.
A company called Ross Energy also sponsored him with 600 dollars a month during the journey. He travelled a distance of 382,000 kilometres and used almost twenty types of vehicles in a span of 3,512 days. The transport he used included buses, taxis, motor-bikes, trucks, trains, trams, rickshaws, container ships, boats, ferries, cruise-ships, carts, police-vans and a yacht.
Would he recommend it to people?
The answer is a big no. Pedersen believes that the journey was extremely difficult and has taken a big chunk of his life along with money. People should invest their energy in things which are more productive and thrilling.
British prime minister Rishi Sunak landed in Tel Aviv, Israel, on Thursday morning to meet his counterpart, Benjamin Netanyahu and President Herzog.
He wrote on X (formerly Twitter), “I am in Israel, a nation in grief. I grieve with you and stand with you against the evil that is terrorism. Today, and always.”
I am in Israel, a nation in grief.
I grieve with you and stand with you against the evil that is terrorism.
During his meeting with Herzog, he said that it is vital to provide humanitarian aid to Gaza, stating, “Palestinians are victims of what Hamas has done. It’s important that we continue to provide humanitarian access,”
He, nonetheless, stressed on his full support to Israel to “defend” itself, “to bring security back” in the country to its people, and “to ensure the safe return of the hostages that have been taken”.
As per reports of the meeting by Al Jazeera, “The Prime Minister and President Herzog stressed the imperative need to avoid further escalation of violence in the region. They agreed to continue working together to that end.”
Later, PM Netanyahu, during his meeting with his British counterpart, said Hamas’ attack on October 7 was carried out to “destroy Israel’s regional peace moves in the region”.
PM Sunak stated that the UK will provide increased aid to the region.
“I’m proud to stand here with you in Israel’s darkest hour. As your friend, we will stand with you in solidarity, we will stand with your people, and we also want you to win,” Sunak said.
In a short press conference, PM Netanyahu said, “This is not merely our battle, it’s the battle of the entire civilised war, the battle of Israel, the battle of moderate Arab countries, the battle of the free world, the battle for the future,
“We have two forces – one is an axis of evil run by Iran and supported by Hezbollah, Hamas and others that want to bring back the Middle East to the Middle Ages … to the age of war and slavery.
“The other forces [are those] of progress and humanity who want to push for a world of peace and prosperity.”
PM Rishi Sunak will depart for Saudi Arabia today to meet Crown Prince Mohammed bin Salman.
Indian batting superstar Virat Kohli bowled in a one-day international for the first time in six years after all-rounder Hardik Pandya limped off midway through an over in Thursday’s World Cup match against Bangladesh.
It was the first time Kohli had bowled at this level since a 2017 return of 0-12 in two overs against Sri Lanka in Colombo — a match where he scored 131 in a crushing 168-run win. Following a prolonged on-field treatment, Pandya tried running into bowl.
But clearly still in pain, he could only hobble towards the crease and eventually limped off, with key batsman Kohli completing the over to huge cheers from Indian fans. Virat gave two runs in the three balls when he completed the over.
After watching Virat’s bowling, fans couldn’t keep calm on social media and started sharing their reactions. Here are some reactions from fans on social media:
The Directorate General of Immigration and Passports has revealed operational hours for passport offices nationwide during winter.
From Monday to Thursday, passport offices will be open to the public from 9:00 AM to 2:00 PM, while on Fridays, the timing will be adjusted from 9:00 AM to 12:30 PM.
The schedule will be followed in all regional passport offices, executive passport offices, and service counters which will be processing passport applications and facilitating passport issuance.
