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Tag: Pakistan

  • High prices lead to 79% drop in new car sales in June 2023

    High prices lead to 79% drop in new car sales in June 2023

    The automobile industry of Pakistan experienced a severe blow in the fiscal year 2022-23, with car sales plummeting by 56 per cent to a mere 126,879 units, according to data shared by the Pakistan Automotive Manufacturers Association (PAMA) on Tuesday. This significant decline can be attributed to various factors, including the non-availability of completely knocked down kits (CKDs), exorbitant car prices, a surge in auto financing, and the reduced purchasing power of buyers.

    In June 2023, the monthly sales took a substantial hit, dropping by 79 per cent compared to the same period last year, reaching a meager 6,034 units. However, it is worth noting that the sales in June were 10 per cent higher when compared to the sales in May.

    Among the car manufacturers, Honda Atlas Car (HCAR) witnessed the most notable increase in sales, with a month-on-month surge of 253 per cent to 307 units in June. This growth can be attributed to the lower sales base in the previous month and the availability of necessary car parts.

    Pak Suzuki, on the other hand, experienced a modest month-on-month growth of 2 per cent in June, with sales reaching 3,009 units. The surge in Bolan sales by 67 per cent contributed to this increase. However, the company’s bookings took a significant hit, plunging by 57 per cent to 65,364 units in the fiscal year 2022-23.

    Indus Motor Company, responsible for assembling Toyota cars, observed a 7 per cent increase in bookings on a month-on-month basis, reaching 1,846 units in June. Nonetheless, the company’s total car sales for the fiscal year 2022-23 amounted to 31,104 units, reflecting a decline of 58 per cent year-on-year.

    Hyundai Nishat Motor witnessed an 11 per cent month-on-month increase in sales, with the sales of Tucson surging by 61 per cent to 313 units and Elantra sales increasing by 28 per cent to 88 units in June.

    Shifting focus to the tractor segment, Millat Tractors (MTL) experienced a 42 per cent month-on-month increase in bookings, reaching 2,136 units in June. Conversely, Al Ghazi Tractors (AGTL) recorded sales of 854 units, marking a decline of 57 per cent. Overall, the total tractor industry sales for the fiscal year 2022-23 amounted to 30,942 units, representing a decrease of 48 per cent due to factors such as floods, plant shutdowns, lower consumer buying power, and higher prices.

    Looking ahead, the high interest rates and the significant increase in auto prices resulting from the depreciation of the Pakistani rupee against the dollar are expected to continue negatively impacting auto sales in the fiscal year 2024. Furthermore, restrictions on opening letters of credit (LCs) for importing CKDs by auto assemblers may lead to lower plant capacity utilisation and, in extreme cases, plant shutdowns across the industry.

  • Journalist removed from PTV panel after questioning PM Shehbaz

    Journalist removed from PTV panel after questioning PM Shehbaz

    President of Lahore Press Club, Azam Chaudhry, was dismissed by state-run PTV after questioning Prime Minister Shehbaz Sharif on the “diminishing space for freedom of speech” and the increased restrictions over media in Pakistan during a press conference in the provincial capital. 

    Chaudhry posed a two-part question to the prime minister, addressing both widespread media restrictions in the country as well as the interim government’s plan to continue executing the current economic policy. He inquired about the end of media restrictions, specifically, when would journalists be granted the freedom to speak and write without constraint. 

    In response, Prime Minister Shehbaz expressed his disapproval of curbs on media freedom but deflected responsibility to Federal Minister for Information & Broadcasting Marriyum Aurangzeb. Aurangzeb, while acknowledging the need to distinguish between politics and the authority of the state, emphasized that the two should be treated separately.

    In a conversation with The Current, Chaudhry revealed that he was reportedly told by PTV right after the conference that he would not be invited back to his regularly scheduled program Ba-khaber, of which he is one of the pioneer journalists since 2022. 

    He also shared that he was informed earlier in the day that PTV would be doing a panel program after the press conference with two other journalists, Sajjad Mir and Salman Ghani. However, after his questions to PM Shehbaz, he was taken off-air and told that he was no longer with PTV.

    Many news platforms have reported that Azam Chaudhry lost his contract with the state channel; he asserts that he never claimed to be an employee of PTV. He was working as a freelance journalist, with an ‘approval letter’ stating he would be paid PKR 18,000 per program appearance (for Ba-khaber), for three programs per week. 

    According to Chaudhry, the moment the press conference concluded, PTV verbally conveyed to him that he would not be invited back to present on Ba-khaber, so he could take his leave. 

    Speaking to The Current, Chaudhry chuckled at how well-punctuated his point at the press conference became after his dismissal. “I talked about freedom of expression at the press conference, and I was off-aired right after – it proves my initial point [of ongoing media restrictions]”. 

    Ironically enough, Finance Minister Ishaq Dar was reportedly discussing his government’s media-friendly policy at the very same press conference, chiding the previous Pakistan Tehreek-e-Insaf (PTI) government for only inviting “chosen journalists” to media interactions. According to the Tribune, however, leading journalists from prominent English dailies were excluded from this particular press conference.

    Marriyum Aurangzeb tweeted earlier that the story is “completely false and baseless”. She reiterated Dar’s point of the previous PTI government being declared a ‘Press Freedom Predator’ by Reporters Without Borders, and only allowing selected reporters and journalists to its press conferences. 

    In conversation with the Express Tribune, Chaudhry said journalists in Pakistan were operating in a “very suffocating environment”, where they were not allowed to express themselves freely. 

    “I was not fired on establishment’s orders, I was fired by this government, but in the larger scheme of things, people would blame them.” he said, adding that this tenure also “exposes Pakistan People’s Party and their claims of being upholders of democratic principles”.

  • How to get fit and be happy this summer while sitting at home

    How to get fit and be happy this summer while sitting at home

    With summer now in full swing, individuals globally may be pondering on ideas to get fit and healthy without leaving their room. This article aims to share some innovative, fun, and easy fitness tips you can incorporate at home this summer.

    First off, despite the scorching heat outdoors, summer is an excellent time to find your inner yogi. Yoga is not only a great means to enhance physical flexibility and strength but also helps in relieving stress and bolstering overall well-being. Online yoga classes and apps offer comprehensive sessions varying in lengths and difficulties, allowing you to choose according to your flexibility and skill level.

    When it comes to cardio-based exercises, home dance workouts can provide a delightful reprieve from traditional regimens. Diverse home-dance workout formats available online, from Zumba to hip-hop routines, can contribute significantly to calorie-burning. While offering fitness benefits, these sessions also add an exciting element to your daily routine, making workouts something to look forward to.

    Alongside exercising, it’s crucial to focus on healthy nutrition. Experimenting with summer salads and smoothies is a creative way to fulfill your nutritional needs. Including a variety of colorful fresh fruits and veggies in your meals ensures you receive ample vitamins and minerals, essential for maintaining a robust immune system, particularly important during these pandemic times.

    Moreover, proper hydration in summer can’t be overstated. Try adding fruits like watermelon or cucumber to your drinking water for a refreshing twist on staying hydrated. Also, you can experiment with homemade iced herbal teas, which are equally hydrating and provide numerous health benefits.

    Finally, mental health is as vital as physical fitness. Adopt mindfulness exercises or meditation to help manage stress effectively, improve focus and induce better sleep.

    Getting fit this summer while staying home doesn’t have to be tedious. Armed with these tips, you’re ready to transform your summer fitness journey into an enjoyable and rewarding experience.

  • Sindh announces bus service for Hindu pilgrimage 

    Sindh announces bus service for Hindu pilgrimage 

    Sindh Minority Affairs Department, under the direction of Pakistan People’s Party (PPP) chairman Bilawal Bhutto Zardari, has announced a bus service to facilitate Pakistani Hindus who cannot afford the travel expenses of the pilgrimage to Shri Hinglaj Mata.

    This was announced by Sindh Minister for Minority Affairs Giyan Chand Esrani at Swami Narayan Mandir while inaugurating the construction work of the development scheme for Guru Nanak Durbar in Karachi.

    Hinglaj Yatra is the pilgrimage to the cave temple of Hindu Devi – Shri Hinglaj Mata – on the Makran coast in the Lasbela district of Balochistan. More than 250,000 people take part in the Hinglaj Yathra every year. 

    Sindh Minority Affairs Department stated that the bus service will begin on July 15. Gyan Chand Esrani said that lunch will be provided to the pilgrims during the journey, while those pilgrims who want to stay there for a couple of days during the pilgrimage will be provided with resting facilities by the department.

    He said that the application for the pilgrimage would be sent to the Director of Minority Affairs through District Panchayat. He also announced the construction of a hostel for poor girl students at Swami Narayan Mandir.

    Hinglaj Mata is one of the three Shakti Peethas in Pakistan, the other two being Shivaharkaray and Sharada Peeth. Over the last three decades, the place has gained popularity and become a unifying point for Pakistan’s Hindu community.

    The temple Shri Hinglaj Mata is in a small natural cave, in a narrow gorge in the hilly area of Lyari Tehsil in Balochistan. It lies within the domain of the Hingol National Park, lying on the west bank of the Hingol River.

  • Nawaz moves to address Maulana’s concerns over Dubai meeting

    Nawaz moves to address Maulana’s concerns over Dubai meeting

    Former Prime Minister and Pakistan Muslim League– Nawaz (PML-N) supremo Nawaz Sharif has invited head of Jamiat Ulema-e-Islam- Fazl (JUI-F) Maulana Fazlur Rehman to Dubai to dispel his reservations about the recent meeting of coalition partners in Dubai, The News has reported.

    The JUI-F chief has claimed that he was not taken into confidence on Dubai gatherings headed by Nawaz Sharif.

    Sharif is currently in Saudi Arabia and will leave for Dubai instead of London. According to the sources of Geo news, Pakistan Peoples Party (PPP) Co-chairman Asif Ali Zardari has convinced him to hold elections on time.
    On the other hand, Nawaz Sharif tasked Prime Minister Shehbaz Sharif to woo Maulana about the recent meeting between coalition partners in Dubai.

  • ‘Recharge Pakistan’ climate resilience project approved for funding

    ‘Recharge Pakistan’ climate resilience project approved for funding

    Pakistan’s Federal Minister for Climate Change, Sherry Rehman, tweeted her joy on Tuesday at the ‘Recharge Pakistan’ project receiving approval for funding. A joint collaboration by Global Climate Fund (GCF), WWF and the Government of Pakistan, the project aims to build climate resilience through multiple Ecosystem-Based Adaptation (EBA) interventions.

    The project is said to be implemented over the next seven years and will be receiving resources of $66 million from GCF, and $11.8 million from co-financing organisations. 

    The EBA interventions are comprised of three components: firstly, to store flood water in wetlands, floodplains, and depressions (also known as green infrastructure) at several priority sites. 

    Secondly, the project is designed to build community resilience amongst those Pakistani communities particularly vulnerable to climate change. 

    Lastly, and perhaps most importantly, the project aims to enable a paradigm shift towards ecosystem-based adaptation in Pakistan in order to scale up more projects with this approach.

    As Senator Rehman also said, the project is aimed to enable the Government of Pakistan, “including all lead provinces and stakeholders”, to implement and replicate nature-based solutions for climate change.

    The tentative goal is that by 2030, there would be a reduction of flood risk, with enhanced water recharge at six sites in the Indus Basin, building resilience amongst 10 million people and vulnerable ecosystems. 

    In order to ensure that the aforementioned EBA interventions are sustained and continue to function effectively, WWF states that the project will ensure that climate-adapted, community-based natural resource management is implemented locally. 

    Thus, Recharge Pakistan will hopefully contribute towards improving water and food security at a national level, and climate-adapted livelihoods locally, increasing resilience through the protection and restoration of ecosystems and building the climate resilience of vulnerable communities in the Indus Basin.

    As one of the countries most threatened by climate change, the approved funding for Recharge Pakistan is definitely a win. More nature-based solutions for climate change could help our country escape imminent disaster while preserving and rebuilding what’s left of our environment.

  • Nimra Bucha set to star in BBC’s Agatha Christie adaptation ‘Murder is easy’

    Nimra Bucha set to star in BBC’s Agatha Christie adaptation ‘Murder is easy’

    Theater veteran Nimra Bucha has been on a roll since working in coveted projects like ‘Ms Marvel’, ‘Churails’ and ‘Polite Society’. Now, Variety reports that the Pakistani actress is set to work in the BBC drama adaption of the popular Agatha Christie novel ‘Murder Is Easy’.

    The cast comprises of ‘Lord of the Rings’ lead Morfydd Clark and Downtown Abbey’s Penelope Wilton.

    Filming for the adaptation is currently taking place in Scotland, with ‘Industry’ actor David Johnson set to play the lead as Fitzwilliam. Set in 1945 England, Fitzwilliam encounters an old woman, Ms Pinkerton, on the train, who tells him of a murderer on the loose in the quiet village of Wychwood under Ashe. While locals dismiss the murders, Miss Pinkerton remains unsure and seeks help from Scotland Yard, but is found mysteriously dead on her way. After this, Fitzwilliam takes matter in his own hands and investigates who the murderer is.

    The two-part series is written by Siân Ejiwunmi-Le Berre while Meenu Gaur of Zinda Bhaag and World on Fire, will be directing.

  • Pakistan’s foreign exchange reserves boosted by $2 billion deposit from Saudi Arabia

    Pakistan’s foreign exchange reserves boosted by $2 billion deposit from Saudi Arabia

    Pakistan’s central bank has received a significant financial boost of $2 billion from Saudi Arabia, as announced by Federal Minister Ishaq Dar. This infusion of funds will greatly bolster the country’s low foreign exchange reserves.

    During a media briefing on Tuesday, Dar expressed gratitude, stating, “Our brother nation, Saudi Arabia, has deposited $2 billion into the account of the State Bank of Pakistan (SBP).” He further emphasised that this contribution will directly enhance Pakistan’s foreign exchange reserves.

    At the close of last week, the SBP’s forex reserves grew by $393 million to reach $4.463 billion, primarily due to official government inflows. Over the past two weeks, the SBP’s reserves have surged by $937 million. However, it is important to note that these reserves still only cover approximately a month’s worth of imports.

    Dar stated, “These $2 billion will be reflected in the SBP’s reserves by the week ending 14th July.” The finance minister also commended the Saudi government, specifically King Salman and Crown Prince Mohammad bin Salman, for their instrumental role in this gesture of support. Dar extended heartfelt appreciation to the leadership of the Kingdom of Saudi Arabia for depositing $2 billion with the SBP and expressed optimism about future positive economic developments. He declared that Pakistan’s economic situation has nearly stabilised and is poised for growth.

    This development follows the recent announcement by the International Monetary Fund (IMF) that its staff and Pakistani authorities have reached an agreement on policies backed by a $3 billion, nine-month Stand-By Arrangement (SBA). The staff-level agreement is pending approval by the IMF Executive Board, with a decision expected on 12th July.

    Read more: Pakistan commits to 4% annual profit on $2 billion deposit from Saudi Arabia

    Nathan Porter, IMF Mission Chief to Pakistan, stated, “The new SBA builds upon the authorities’ efforts under Pakistan’s 2019 EFF-supported program, which expires at the end of June.” The new IMF arrangement, viewed as highly favorable for the government and economy amidst the ongoing crisis, extends Pakistan’s commitment to the lender well into the second half of fiscal year 2023-24. Moreover, it represents an upgrade from earlier expectations of receiving $1.1 billion following the ninth review.

    Experts have consistently emphasised the critical nature of resuming the IMF bailout package for Pakistan, a cash-strapped South Asian economy grappling with a balance of payments crisis. In addition to mitigating risks of potential default, the funding from the international lender is expected to pave the way for additional inflows from Pakistan’s multilateral and bilateral partners.

  • Local manufacturing plants in Pakistan assemble 4.88 million mobile phones in first five months of 2023

    Local manufacturing plants in Pakistan assemble 4.88 million mobile phones in first five months of 2023

    According to official data, local manufacturing plants in Pakistan have successfully manufactured and assembled 4.88 million mobile handsets during the first five months (January-May) of 2023. This figure stands in stark contrast to the mere 0.41 million handsets that were commercially imported during the same period.

    For the month of May 2023, local manufacturing plants contributed 1.44 million mobile handsets, while commercial imports lagged behind at 0.11 million.

    However, it is worth noting that the local manufacturing industry experienced a decline in production during the calendar year 2022, manufacturing 21.94 million mobile handsets compared to the 24.66 million produced in 2021. This decline can be attributed to import issues caused by restrictions on the opening of letters of credit (LCs).

    Providing additional insight, the Pakistan Telecommunication Authority (PTA) disclosed that out of the 21.94 million mobile handsets assembled in 2022, only 1.53 million were commercially imported.

    Of the 4.88 million locally manufactured and assembled mobile handsets, 4 million were 2G phones, while 0.88 million were smartphones.

    Furthermore, the PTA data reveals that smartphones accounted for 56 per cent of the mobile devices used in Pakistan, while 44 per cent were 2G phones.

    Moving on to imports, Pakistan imported mobile phones valued at $516.488 million during the first 11 months (July-May) of the current fiscal year 2022-23, indicating a significant negative growth rate of 73.46 per cent compared to the $1.946 billion imported during the same period last year.

    In May 2023, the country experienced a remarkable 308 per cent month-on-month increase in mobile phone imports, reaching $43.201 million. This figure surpasses the $10.587 million worth of imports recorded in April 2023, as reported by the Pakistan Bureau of Statistics (PBS).

    When compared to May 2022, however, mobile phone imports in May 2023 exhibited a negative growth rate of 68.52 per cent, with the value dropping to $137.212 million.

    Taking a broader view of the telecom industry, overall imports into Pakistan amounted to $860.441 million during the July-May 2023 period. This marks a substantial negative growth rate of 66.87 per cent compared to the $2.597 billion recorded during the same period in the previous fiscal year.

  • Will Imran Khan be tried in military court? No decision yet, says Geo

    Will Imran Khan be tried in military court? No decision yet, says Geo

    No final decision has been taken yet on whether Imran Khan, Chairman of Pakistan Tehreek-e-Insaf (PTI), will be tried under Army Act in military courts for the May 9 riots, geo.tv has reported.

    A report by Ansar Abbassi of The News says that while a well-connected source says that some federal ministers are convinced of Imran Khan being the mastermind of the May 9 attack on military and civilian installations, a final decision on taking him to military court is yet to be taken.

    The report states that there is a general consensus among civil and military authorities that Imran Khan plotted the May 9 mayhem, however, establishment has yet to directly name him.

    The former Prime Minister is nominated in at least six FIRs in police stations in Mianwali, Rawalpindi and Gujranwala related to May 9 attacks. He is expected to be named in more as rioters record statements with law-enforcing agencies and police gather more evidence.

    According to the numbers presented by the federal government in the Supreme Court of Pakistan, 102 civilians are awaiting trials in military courts. This number does not include any woman or minors.