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  • Child pornographer released on bail

    Child pornographer released on bail

    The Lahore High Court (LHC) has released a man, arrested for selling child pornography to an international child pornography ring, on bail.

    According to reports, a judicial magistrate on April 26, 2018, had awarded seven-years imprisonment to Saadat Amin of Sargodha under Section 22 of Prevention of Electronic Crime Act 2016 and imposed a fine of Rs1.2 million on him.

    Federal Investigation Agency’s (FIA) cybercrime cell had arrested Amin on the complaint of the Norwegian embassy during 2017.

    Saadat was an active member of an international group, operating online from Pakistan. He used to engage children between the age of 10-12 years and transmit their pornographic pictures/videos outside the country for monetary benefits. 650,000 pictures and video related to child pornography were reportedly recovered from the convict’s possession.

    In an appeal before the high court, the Sadaat’s lawyer Rana Nadeem Ahmad argued that the investigation held by the agency was faulty as it failed to arrest or investigate the alleged foreign agent in Norway. Besides, the appellant had been languishing behind the bars since his arrest in 2017, while his main appeal against the sentence had not been decided by the high court.

    He asked the court to suspend the sentence and release the appellant on bail as he was ready to furnish surety bonds. Justice Farooq Haider suspended the sentence and released the convict on bail against bonds of Rs200,000.

  • COVID-19 & industry: Current situation and the way forward

    COVID-19 & industry: Current situation and the way forward

    In the previous two years, Pakistan had started to pick its pace at a slightly high point and the economy had started to improve.  Both the current account along with the non-oil current account had continued to improve after exchange rate reforms while sectors with the highest forward linkages i.e cement, iron and steel, had started to show an upward spike in production.

    The fiscal side also seemed to strengthen over a period of time while growth in revenue collections at all levels, especially direct taxes, was also witnessed.

    However, with the ongoing coronavirus pandemic raising its ugly head, the meager growth achieved is now threatened.

    According to a World Bank (WB) assessment, the global impact of COVID-19 can reach $347 billion (0.4 per cent of Global GDP). Nearly all regions suffer a double-digit decline in trade volumes in 2020, with exports from North America and Asia hitting the hardest. But it is important to note that this hit was majorly experienced by countries with sizable exports due to trade problems while Pakistan has a low global value chains (GVC) exposure to the world, especially to People’s Republic of China (PRC), which means it has suffered lesser trade disruptions so far.

    Trades have fallen steeper in sectors with complex value chains, particularly electronics and automotive products.

    According to Urban Unit’s spatial industrial data, currently, 18 per cent of the industries in Pakistan are operational. These include the fertilizer industry, agriculture, agriculture spare parts and export industry, all of which are operating under conditions of following certain standard operating procedures (SOPs) developed by the Punjab government. However, strict monitoring from the government will also be required as an exemplary practice of these SOPs which will further encourage the authorities to open up other capital-intensive sectors.

    On the monetary side, there are several efforts made by the government. Under a federal package, a Rs100 billion relief package has been provided to small and medium-sized enterprises (SMEs) and the agriculture sector along with concessional loans. Money is allocated to lower the input cost for farmers along with a Rs12,000 monthly package with facilities of panagahs [shelter homes] and langar centers [soup kitchens].

    The Punjab government has also implemented tax reductions as all forms of GST have been removed from online platforms, businesses and services related to HR; deferment of tax has been implied for properties and CVT & stamp duties have been reduced to 2 per cent on property transactions, construction industries, hospitals and medical consultants. In addition to these, the State Bank of Pakistan (SBP) has provided relaxation in export schemes (EFS & LTFF) and has enhanced liquidity for exporters while providing extensions in the time period to ship and import goods against advance payment.

    The central bank has also reduced its interest rate from 13.5 per cent to 9 per cent.

    However, there are some further actions that the government can take in order to improve the current economic situation. A regulatory framework can be adopted keeping in view some of the best international practices from where many risk management practices can be learnt to determine the best price discovery (for example, the United States has dropped the interest rate to 0 per cent).

    Secondly, allowing ease of entry for institutional capital in order to broaden the depth of the market i.e. attracting FDIs in newly established special economic zones in Faisalabad, Bhalwal, Vehari and Rahim Yar Khan by simplifying provincial and federal procedures. Thirdly, the role of aggregators, producers and organisations can be improved for better price negotiations for SME’s.

    Fourth, access to foreign capital should be made easier and distortions should be minimised by developing linkages with the international markets. That means ease of doing business index, logistic performance index and reduced lead time for exports should be commenced. Lastly, e-markets should be developed where participants can access both international and domestic markets. An e-commerce policy at the provincial level must be put in place with incentives to increase documentation of economy and online trade at B2B B2C and C2C levels.

    It is to be noted that Pakistan is not alone in this economic downfall. It is vital to have a positive outlook on the situation and prepare for the future with better resilience. Effective policies and active preparedness can give impetus to the post-pandemic industrial revival.

  • ‘Khush Raho Pakistan’: Indian comedian Bharti Singh sends prayers amid pandemic

    ‘Khush Raho Pakistan’: Indian comedian Bharti Singh sends prayers amid pandemic

    Popular Indian standup comedian Bharti Singh sent all Pakistanis her well wishes and prayers. In a video message, she wished all Pakistanis who are a part of a global comedy family to live happily.

    https://www.instagram.com/p/CAGOnWoHYJm/?utm_source=ig_web_copy_link

    She wished her favorite team lead by a Pakistani comedian Rauf Lala in a game show ‘Khush Raho Pakistan’. The show is hosted by Faysal Qureishi on Bol TV.  

  • Pakistani pharmaceutical company to manufacture Remdesivir, only drug approved to treat coronavirus

    Pakistani pharmaceutical company to manufacture Remdesivir, only drug approved to treat coronavirus

    A local Pakistani company will manufacture Remdesivir, an international drug being used to treat coronavirus patients, in less than two months, Special Assistant to Prime Minister (SAPM) on Health Dr Zafar Mirza announced as five companies in the world were granted the license to manufacture the medicine.

    “American company Gilead has manufactured this drug and it has proven effective in treating coronavirus patients,” he said during a press conference. “It is said that the use of the drug has reduced the intensity of the virus by 30%.”

    “Among the five companies [granted the license to manufacture the drug] one of them is a Pakistani company,” he said, referring to it as a “breakthrough news”.

    He said that the medicine will be available for COVID-19 patients in Pakistan after it is registered within six to eight weeks and manufactured in the country.

    “It will not only be available for patients in Pakistan but the plan is to export this drug to 127 countries,” he said. “Pakistan will be among three countries in the world to produce and export this to 127 countries. This is a big breakthrough and this is big news for coronavirus patients in Pakistan, who are increasing by the day and are expected to increase more.”

    Ferozsons Laboratories Limited CEO Osman Khalid Waheed said that it would be the company’s aim to sell the drug at the least cost, The News reported.

    Adviser to the PM for Commerce, Textile and Investment Abdul Razzak Dawood said that it was a proud moment for Pakistan and the country’s pharmaceutical industry that a Pakistani company had been made the licensee of the coronavirus drug.

    He said that it was the government’s aim to diversify exports and that included pharmaceuticals. “It is not only good news for the people of Pakistan but for countries around the world.”

    ‘FREE CORONAVIRUS VACCINE’:

    Meanwhile, PM Imran Khan has joined the more than 140 signatories of a letter saying any vaccine for COVID-19 should not be patented and the science should be shared among nations.

    The World Health Assembly, the policy-setting body of the UN’s World Health Organisation (WHO), holds its annual general meeting next week.

    The signatories, which include incumbent and former world leaders, called on the World Health Assembly (WHA) to rally behind the cause.

    “Governments and international partners must unite around a global guarantee which ensures that, when a safe and effective vaccine is developed, it is produced rapidly at scale and made available for all people, in all countries, free of charge,” the letter said.

    “The same applies to all treatments, diagnostics, and other technologies for COVID-19.”

    The letter was signed by Senegalese President Macky Sall and Ghanaian President Nana Akufo-Addo. Former presidents and premiers among the signatories included Shaukat Aziz, Jan Peter Balkenende, Jose Manuel Barroso, Gordon Brown, Helen Clark, Felipe Gonzalez, Ellen Johnson Sirleaf, Aleksander Kwasniewski, Mary McAleese, Olusegun Obasanjo and Juan Manuel Santos.

    The letter comes amid fury in France after French pharmaceutical giant Sanofi said it would reserve the first shipments of any COVID-19 vaccine for the United States (US).

    The multinational’s chief executive Paul Hudson said the US would get first dibs because its government was helping to fund the vaccine research, drawing outrage from officials and health experts.

    The letter ahead of the WHA said it was not the time to leave the task of resolving the pandemic to market forces or let the interests of wealthy companies and governments come before the need to save lives.

  • Atif Aslam recites the 99 names of Allah for a ‘Coke Studio’ special

    Atif Aslam recites the 99 names of Allah for a ‘Coke Studio’ special

    Atif Aslam has joined hands with Coke Studio to release a special track in which the singer recites the 99 names of Allah.

    Read more – Coronavirus: Atif Aslam, Mahira Khan appreciate PM Khan for his efforts

    Titled Asma-Ul-Husna (which translates to the 99 attributes of Allah), the three and a half minute track has been produced by Zulfiqar “Xulfi” Jabbar Khan, while the video has been directed by Asim Raza.

    Though Asma-Ul-Husna has multiple renditions, Coke Studio’s version “manifests a multilayer soundscape, beginning with the actual sounds of black hole collision, followed by the echoes of “Allah” from the iconic Azaan of Makkah”.

    According to a press release, the “recitation borrows 24 voices from across the country to build a large vocal acapella personality”. Some of those voices include Abdullah Qureshi, Adnan Dhool, Xulfi, Mujeeb Rizvi, Bilawal Lahooti and Samya Gohar.

    “To further enhance the grandeur of the acapella, Melvin Arthur, a virtuoso musician from Quetta Pakistan, worked on crafting the choir arrangement using vocals from around the world. The track also demonstrates a unique arrangement of duffs as their grand ensemble reverberates in a large space,” the press release further said, adding that Atif brought together the whole composition with his powerful recitation.

    “Asma-Ul-Husna is an ode to the unwavering human spirit, an expression of spiritual healing and nourishment, and reassurance of better times ahead.”

    Listen to it below:

    Meanwhile, social media is full of praises for the singer.

    https://twitter.com/ABilalErfan/status/1261038045190553603?s=20
  • Meera tests negative for coronavirus

    Meera tests negative for coronavirus

    Meera, who recently returned from virus-hit New York after being stranded there for a couple of weeks has tested negative for COVID-19.

    In a video posted to Instagram, Meera along with some other Pakistani students shared that they have tested negative for COVID-19 and are back home safe and sound. They said that they are ecstatic to be home, even though their journey took almost two days. They were quarantined at a local hotel in Lahore while they waited for their tests.

    https://www.instagram.com/p/CAKXAtvnNxc/

    Meera returned from United States on May 12 via a special flight arranged by the Government of Pakistan to repatriate stranded Pakistanis in the US.

    Read more – Meera is back in Pakistan

    In a video message posted to Instagram, the actor has shared that she is back in Pakistan and gave a special shoutout to the Pakistan Embassy in Washington and the New York Consulate for assisting her. Meera appreciated the work of the Pakistan Embassy and Consulate in the US and said that they facilitated her – and all other stranded passengers – at every step.

  • Historic first: No cars sold in Pakistan in a month

    Historic first: No cars sold in Pakistan in a month

    In a historic first, not even a single car was sold in Pakistan during April 2020 as countrywide lockdowns due to the coronavirus continued to take a toll on the economy, and consequently, the automobile sector, SAMAA quoted analysts as saying.

    According to data from Pakistan Automotive Manufacturers Association, the lockdowns resulted in the closure of plant operations along with car dealerships across the country. Car sales in the last 10 months ending April dropped by 52% compared to the same period of the preceding financial year, Topline Securities said in a report, adding that motorcycle sales were also affected.

    “The auto industry sold 39 units in April, which only included trucks and buses,” Inter Market Securities (IMS) said in a separate report, noting there were no passenger car sales due to the lockdown that came into force on March 24.

    Tractor sales were down 30% in April compared to the same month of 2019. “The decline in [tractor] sales was probably because of a partial lockdown, which was later eased for the tractor industry given its links to the agriculture sector amid harvesting season,” it said.

    READ MORE: Coronavirus may never go away, WHO says

    “With the easing of lockdowns in the country effective May 11, we expect sales to resume for the last two weeks of May,” IMS said. It, however, added the sales are expected to pick up in the first half of 2021. This is because Indus Motor Company, the makers of Toyota in Pakistan, and Honda Car Pakistan Limited increased prices recently and Pak Suzuki Motor Company is likely to follow suit. But analysts at IMS also said the reduction of more than 4% in interest rates may help auto-financing pick up earlier than expected.

    Similar situations have been reported across the globe as COVID-19 continues to affect global economy and spell misery for consumers.

    According to BBC, the United Kingdom’s (UK) motor industry has been in suspended animation for weeks. Showrooms have been closed while vast factories, which normally produce hundreds of cars every day for sale here and abroad, have been standing idle.

  • GUYS, FREE GIVEAWAY! Fill it out NOW!

    GUYS, FREE GIVEAWAY! Fill it out NOW!

    So, as we announced earlier, the Google News Innovation Fund is funding The Current to start Pakistan’s first membership program. What does that mean? That means that while everything we do for you will always be free, IF you want something more from us, we can now make that happen! This is so exciting guys! But obviously we need to know from you…what do you want? Fill out this survey and we will start working on what to do for you. And to make it more fun, we are sending GIVEAWAYS to FIVE PEOPLE who fully complete the survey! Thank you so much for supporting us! Means a lot! And we can’t wait to do more!

    Check out this link to fill the survey

  • Coronavirus: Twitter allows staff to work from home ‘forever’

    Coronavirus: Twitter allows staff to work from home ‘forever’

    Twitter has told staff that they can work from home “forever” if they wish as the company assesses its future after the coronavirus pandemic.

    The decision came as the social media giant said its work-from-home measures during the lockdown had been a success. But it also said it would allow workers to return to the office if they want to when it reopens.

    Earlier this month, Google and Facebook said their staff can work from home until the end of the year.

    Twitter said: “The past few months have proven we can make that work. So if our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen.”

    Twitter’s blog added that for those who want to return to Twitter’s office the company “will be their warm and welcoming selves, with some additional precautions”.

    The San Francisco-based company employs more than 4,000 people across its global offices. It has allowed employees to work from home since March and have decided to reopen its offices probably in September.

  • Amazon owner likely to become world’s first trillionaire

    Amazon owner likely to become world’s first trillionaire

    While the coronavirus pandemic has racked the global economy with uncertainty, Amazon founder Jeff Bezos is on track to become the world’s first trillionaire by the year 2026.

    The business software comparison site used data collected from the last five years of the Forbes Rich List to calculate the yearly wealth growth rate of the world’s richest billionaires.

    The results concluded that Bezos, whose wealth is over $140bn, could become the world’s first trillionaire in 2026, by then he will be 62 years old.

    The study also says that Mark Zuckerberg, founder of Facebook, could become the youngest trillionaire in the world in 2036 when he will be 51 years old.

    Physical shopping is not a thing at the moment, therefore, Amazon is doing well at the moment because the demand for online is very high.

    Last month Jeff Bezos donated $100 million to US food banks which are struggling to feed a growing number of Americans who have lost their jobs due to the coronavirus crisis.

    According to the Billionaires Index, Bezos is one of the world’s five richest people who hasn’t lost money in 2020 as a result of the coronavirus pandemic. Amazon has reported $75.5 billion in revenue for the first quarter of 2020.