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  • Power sector’s circular debt surpasses Rs2 trillion despite massive tariff increase 

    Power sector’s circular debt surpasses Rs2 trillion despite massive tariff increase 

    Despite raising tariffs significantly, Pakistan’s power sector debt grew to Rs2.31 trillion by June 2023, up from Rs2.25 trillion in the previous fiscal year (FY22). This increase of Rs57 billion (about 3 per cent) over 12 months is quite different from FY22 when the debt actually decreased by Rs27 billion. 

    Here’s a breakdown of the key points: 

    1. In FY22, the debt was Rs2.25 trillion, but by June 2023, it had risen to Rs2.31 trillion. 

    2. In FY22, power producers were owed Rs1,351 billion, generation companies owed Rs101 billion to fuel suppliers, and Rs800 billion was held in Pakistan Holding Limited (PHL).  

    3. In FY22-23, the debt to power producers increased to Rs1,434 billion, while the debt to PHL decreased to Rs765 billion in FY23. 

    4. In FY22, some subsidies were reduced by Rs12 billion, but in FY23, there were no subsidies left. 

    5. The interest charges on delayed payments by independent power producers (IPPs) increased to Rs105 billion in FY22 but dropped to Rs100 billion by the end of FY23. 

    6. The markup paid on IPPs’ claims by PHL increased from Rs29 billion in FY22 to Rs43 billion in FY23. 

    7. The pending generation cost, including tariff adjustments and fuel charges, decreased from Rs414 billion in FY22 to Rs250 billion in FY23. 

    8. K-Electric’s outstanding dues went from Rs107 billion in FY22 to an excess payment of Rs53 billion in FY23. 

    9. However, power distribution companies (Discos) saw their losses due to inefficiency rise from Rs133 billion to Rs160 billion in FY23. 

    Read more: Pakistan to launch digital rupee to reduce printing and distribution costs 

    In simple terms, even though the government raised tariffs to collect more money for the power sector, the debt continued to increase. This debt is owed to various power-related entities, and some subsidies and charges also changed over the years. Additionally, while some costs went down, the losses due to inefficiencies in power distribution increased. 

  • Students pays four lacs to kill exam director for not leaking tests

    Students pays four lacs to kill exam director for not leaking tests

    Khyber Pakhtunkhwa police have arrested four people, including an employee of Khyber Pakhtunkhwa Public Service Commission (KPPSC) on Tuesday on suspicion of killing a director of the commission, AAJ TV has reported.

    This was confirmed by SSP Operations Kashif Aftab Abbasi. Allegedly a KPPSC employee was also involved.

    Arshad Khan was KPPSC director of the examination.

    The case is still being probed as some suspects have been traced and additionally, mobile data has also been recovered from them.

    According to SSP Abbasi Khan was killed as he did not leak the paper to the students.

    In a post on X (formerly Twitter) journalist Iftikhar Firdous shared an AAJ TV clip reporting that the student paid Rs400,000 to a target killer to kill the Director Examination.

    Case

    Arshad Khan was shot on July 24 while he was on his way to Peshawar from Charsadda.

    He died on the spot from bullet wounds.

    At the time, police was unable to find the reason for the murder while the body was shifted to a hospital for post-mortem examination.

  • ‘Credible allegations’; Trudeau blames Indian govt agents for Nijjar murder

    ‘Credible allegations’; Trudeau blames Indian govt agents for Nijjar murder

    US, UK, Australia ‘deeply concerned’ over possible Indian role in Sikh leader’s murder

    The world is reacting after Prime Minister Justin Trudeau’s statement citing suspicion towards India in Hardeep Singh Nijjar’s murder case.

    The White House said it was “deeply concerned” about the allegations made by Trudeau.

    “We remain in regular contact with our Canadian partners. It is critical that Canada’s investigation proceed and the perpetrators be brought to justice,” White House National Security Council spokesperson Adrienne Watson said.

    Then, in an official statement, spokesperson for Australian foreign minister Penny Wong said, “Australia is deeply concerned by these allegations and notes ongoing investigations into this matter. We are closely engaged with partners on developments. We have conveyed our concerns at senior levels to India.”

    Foreign Secretary of the UK posted on X (formerly Twitter), “All countries should respect sovereignty and the rule of law. We are in regular contact with our Canadian partners about serious allegations raised in the Canadian Parliament. Important that Canada’s investigation runs its course and the perpetrators brought to justice.”

    Pulling no punches, Canadian Prime Minister Justin Trudeau gave a harshly worded statement on Monday about the murder of Hardeep Singh Nijjar, mentioning links between the killers and the Indian government.

    The Canadian government has been probing into Nijjar’s murder case and the latest findings direct the fingers at the involvement of the Indian Government.

    Hardeep Singh Nijjar, a Canadian Sikh leader, was shot outside a Sikh temple on 18 June in Surrey, British Columbia, Canada. As per the police’ evaluation, it was a “targeted” attack.

    “Any involvement of a foreign government in the killing of a Canadian citizen on Canadian soil is an unacceptable violation of our sovereignty,”, said Trudeau.

    “In the strongest possible terms, I continue to urge the government of India to cooperate with Canada to get to the bottom of this matter.”, he added

    Similarly, Canadian Minister of Foreign Affairs, Mélanie Joly, also gave a staemnt in which she told the media that Indian diplomat, Pavan Kumar Rai, the head of RAW — India’s external intelligence agency — had been expelled over the case.

    “We see this possible breach of sovereignty as completely unacceptable, and so that is also why we’re coming [out] with this information today,” she added.

    On the other hand, in a tit-for-tat move, India ordered a senior Canadian diplomat to leave the country, keeping in view the “growing concern at the interference of Canadian diplomats in our internal matters and their involvement in anti-India activities”.

    India’s foreign ministry has rejected all allegations, deeming them as “absurd”.

    In a statement, the ministry said: “Allegations of Government of India’s involvement in any act of violence in Canada are absurd and motivated,”

    “We are a democratic polity with a strong commitment to rule of law.”

    Previously, prime minister Trudeau shed light on the murder while in conversation with Indian prime minister, Narendra Modi at the G20 summit last week in New Dehli. He stated that the Indian role in the case would not be acceptable and that they expected the state’s cooperation in the investigation.

    Who was Hardeep Singh Nijjar?

    Nijjar moved to Canada in 1997, working first as a plumber and later establishing a plumbing business in Surrey, B.C. He also played a vital role in the Khalistan movement — a call for a separate Sikh nation in India.

    Terming him a “terrorist”, the Indian government said he was wanted by the state for his alleged active involvement in the Khalistan Tiger Force (KTF) — an organisation deemed as a terrorist group by the country.

    Nijjar’s friend and fellow Sikh nationalist Gurpatwant Singh Pannun spoke with Global News, stating that he was warned that “Indian intelligence agents had put a bounty on his head”.

    Similarly, the Canadian Security Intelligence Service also warned Nijjar that they had information that he was, “under threat from professional assassins,”.

  • Rice exports from Pakistan decline by 17.33% in first two months of current fiscal year 

    Rice exports from Pakistan decline by 17.33% in first two months of current fiscal year 

    During the initial two months of the current fiscal year, a total of 340,237 metric tonnes of rice, with a market value of $233.991 million, were exported. This marked a notable contrast with the previous year’s corresponding period, which recorded exports of 507,144 metric tonnes of rice valued at $283.056 million.  

    According to data provided by the Pakistan Bureau of Statistics, rice exports from July to August 2023 witnessed a 17.33 per cent decline in comparison to the same period in the previous year. 

    However, within this timeframe, Basmati rice exports experienced 8.29 per cent growth. Approximately 79,257 metric tonnes of Basmati rice, valued at $94.733 million, were exported, compared to the previous year’s figures of 84,709 metric tonnes at a cost of $87.480 million. 

    Concurrently, the nation achieved earnings of $39.338 million by exporting approximately 20,539 metric tonnes of fish and fish preparations, showing an improvement from the previous year when 15,922 metric tonnes of these products were exported, amounting to $38.086 million. 

    Read more: WhatsApp to introduce animated avatars for video calls soon 

    It is noteworthy that overall food group exports in the first two months of the current fiscal year registered a modest decrease of 1.65 per cent. The total value of food commodities exported during this period amounted to $711.748 million, contrasting with the previous year’s export value of $723.696 million for the same duration. 

    On the other hand, food group imports into the country during the initial two months of the current fiscal year witnessed a substantial decline of 26.91 per cent when compared to the corresponding period of the previous year. From July to August 2023, food imports decreased from $1.783 billion to $1.303 billion. 

  • Govt issues warning to be cautious with Indian tech products 

    Govt issues warning to be cautious with Indian tech products 

    The government has warned information technology (IT) and financial institutions, including regulators, to avoid using artificial intelligence (AI) and information and communication technology (ICT) products from India. They say these products could pose a serious threat to Pakistan’s critical information systems. 

    According to Geo News, this warning came through a cybersecurity advisory shared with federal and provincial ministries and regulators. The advisory noted that AI and ICT products from India are used worldwide, especially in the financial industry, to help businesses grow. 

    However, it pointed out that some Pakistani fintech companies and banks are working with Indian firms that offer IT, cybersecurity, and AI solutions. The government is concerned for two main reasons: 

    Indian products could have hidden “backdoors” or malicious software that collects data, including personal information. 

    There might be direct access to Pakistan’s critical systems by Indian entities, allowing them to monitor and control these systems. 

    Read more:

    The government has asked all ministries and regulators to make sure their affiliated organisations and licensees understand the risks of using Indian products. Instead, they suggest consulting with the Pakistan Software House Association (P@SHA) to find affordable alternatives from local tech companies. 

    Two years ago, a US company called Exodus Intelligence claimed that India used its software vulnerabilities to spy on Pakistan and China. 

  • US Embassy in Islamabad reduces visa wait times for Pakistanis

    US Embassy in Islamabad reduces visa wait times for Pakistanis

    The US Embassy in Islamabad has announced to reduce the visa appointment wait times for Pakistani people.

    According to the official announcement by the US Embassy on their X, formerly Twitter account, ‘Demand for US visas is the highest it has ever been. We are processing more visa applications than ever before and are working hard to bring down visa appointment wait times.’

    In order to reduce the waiting time, the US has announced three ways for visa applicants from Pakistan to meet the ‘unprecedented demand’ for US visas.

    ‘First, we have expedited thousands of non-immigrant visa appointments. More than ten thousand Pakistani visa applicants originally scheduled for 2024 at the US Consulate General in Karachi are receiving notice that their appointments have been rescheduled for 2023, some as early as next week. If you have a visa appointment in the next few months at the US Consulate General in Karachi, please check your e-mail and log-in to your account at our website to confirm your expedited appointment time.’

    The second method is that ‘to create added flexibility for Pakistani travellers, visa applicants can rebook appointments at either the Consulate General in Karachi or the US Embassy in lamabad—whichever  works best for them. Our hope is that this will allow applicants more freedom and flexibility to find a convenient date, time, and location.’

    Furthermore,’starting September 25, US Consulate General Karachi will begin accepting new interview waiver applications for some applicants who have previously been issued US visas. Applicants can check ustraveldocs.com/pk to determine whether they are eligible, print out a confirmation letter, and submit their application materials to a drop box without the need for an appointment. The US Embassy in Islamabad is already accepting interview waiver applications for qualified applicants.’

    It is pertinent to mention here that the United States Embassy in Pakistan has announced that it will facilitate Pakistanis applying for the country’s visa with a new optional visa delivery policy.

  • X considers monthly fee for all users as a countermeasure against fake accounts 

    X considers monthly fee for all users as a countermeasure against fake accounts 

    Renowned technology billionaire Elon Musk hinted on Tuesday that users of the social media platform X, formerly known as Twitter, may face a monthly fee. Musk stated, “We’re moving to having a small monthly payment for use of the system,” during a conversation with Israeli Prime Minister Benjamin Netanyahu. 

    Musk’s proposal is driven by the need to combat the issue of bots and fake accounts on social media, with the idea of charging for verification. However, it remains unclear whether this was a spontaneous comment or a signal of more concrete plans. 

    The new owner of the social media giant X, who assumed control last year, is encouraging users to subscribe to X Premium, which offers paid subscribers additional features like longer posts and increased visibility. Currently, users can still access X for free. 

    While Musk insists that the primary objective is to combat bots, it is apparent that there is a financial interest for the company in charging users, according to the BBC. Musk explained, “A bot costs a fraction of a penny to make. But if somebody even has to pay a few dollars or something, some minor amount, the effective cost to bots is very high.” 

    Read more: iOS 17 update is here: Try these fun features today

    The world’s richest person is also exploring options for lower pricing tiers for X Premium, which currently costs $8 (£6.50) per month in the US, with variations depending on the subscriber’s location. He stated, “We’re actually going to come up with lower-tier pricing. So we just want it to be a small amount of money.” 

    Musk emphasised, “This is a longer discussion, but in my view, this is actually the only defence against vast armies of bots.” 

    However, there is a concern that placing X behind a paywall could result in a significant loss of users, potentially affecting the company’s primary source of income, advertising revenue. 

  • Caretaker govt files appeal against Review Act verdict

    Caretaker govt files appeal against Review Act verdict

    The federal interim government has filed a review appeal against the Supreme Court’s decision on the Review of Judgment Act on Monday, asking the apex court Supreme Court to revise the decision.

    The petition contends that Article 142 empowers the Parliament to enact such legislation, the judicial decision being an encroachment on the powers of the legislature.

    It should be noted that the Supreme Court had annulled the (Review of Judgment and Orders) Act on August 11.

    “The Supreme Court (Review of Judgments and Orders) Act 2023 is ultra vires the Constitution being beyond the legislative competence of parliament,” declared a three-member bench led by former chief justice Umar Ata Bandial and comprising Justice Ijazul Ahsan and Justice Munib Akhtar.
    Senior lawyers had voiced severe concerns regarding the verdict’s timing.

  • 10-day winning streak: Pakistani rupee soars to Rs294.90 against US dollar 

    10-day winning streak: Pakistani rupee soars to Rs294.90 against US dollar 

    In a noteworthy financial trend, the Pakistani rupee continued its upward trajectory against the US dollar, marking its 10th consecutive session of appreciation in the interbank market. On Tuesday, the rupee displayed resilience by appreciating by 0.36 per cent, settling at Rs294.9, following a notable increase of Rs1.05. 

    This positive momentum in the exchange rate follows the previous day’s gain, where the rupee had strengthened by 0.3 per cent to close at Rs295.95. This recent surge in the value of the Pakistani rupee comes in stark contrast to its earlier performance, when it reached an all-time low of Rs307.1 in the interbank market. 

    The shift in fortune can be attributed to government initiatives aimed at reforming the Exchange Companies’ (ECs) sector and cracking down on smuggling activities, both of which have bolstered confidence in the currency markets. 

    This development offers some relief to the prevailing economic outlook, which had been under pressure due to the easing of import restrictions, leading to a widening of the current account deficit in July. 

    Analysts at Topline Securities anticipate that the PKR/USD exchange rate in the inter-bank market will likely remain within the range of Rs320–340 by June 2024, providing a forward-looking perspective on the currency’s performance. 

    Meanwhile, on the global stage, the US dollar experienced a modest decline, albeit remaining close to its six-month peak against major currencies. This movement occurred ahead of the Federal Reserve’s highly anticipated interest rate decision scheduled for Wednesday. 

  • Autopsy reveals 10-year-old Fatima died of physical injuries

    Autopsy reveals 10-year-old Fatima died of physical injuries

    The post-mortem report of 10-year-old Fatima has been released, while the final post-mortem report has been submitted in the court of Judicial Magistrate, Ranipur.

    According to the autopsy report, Fatima died due to head and chest injuries, and she was not provided any treatment after being assaulted which eventually led to her demise.

    Marks of torture on her arm have also been identified.

    Fatima’s case

    A domestic maid, 10-year-old child Fatima Phuriro, was found dead under suspicious circumstances in Ranipur.

    The child had been working as a domestic worker at a haveli owned by an influential local, Pir Asad Shah Jilani.

    Fatima’s mother, Shabana, was informed about the death by the employer who asked her to remove the body from the premises where two of Fatima’s sisters were also employed.

    According to DIG Sukkur Javed Jiskani, the parents initially did not share the facts of the case with the police and claimed that the girl was suffering from gastroenteritis. While her diagnosis was also confirmed by Dr Abdul Fatah Memon who treated her, the DIG revealed that Fatima was taken to the hospital either by the Pir or his staff and that the SHO was present at the time she was pronounced dead.

    It was not until videos of the child were leaked by an unknown source and circulated in social media that the case caught the media’s eye. By then, the family had buried Fatima on August 15.

    The body was later exhumed and sent for an autopsy which revealed that the girl had been raped both vaginally and anally.