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Tag: Pakistan

  • Weekly inflation in Pakistan remains stubbornly high at 45.72%

    Weekly inflation in Pakistan remains stubbornly high at 45.72%

    Despite coming down marginally, weekly inflation remains above 45 per cent and stood at 45.72 per cent on a year-on-year (YoY) basis for the week ended on 18th May 2023, showed data released by the Pakistan Bureau of Statistics (PSB) on Friday.

    The Sensitive Price Indicator (SPI) based inflation for the week ended 11th May 2023, recorded a decrease of 0.16 per cent over the previous week due to a decrease in the prices of food and non-food items.

    The year-on-year trend posted an increase due to an increase in the prices of Cigarettes (138.50 per cent), Tea Lipton (114.93 per cent), Potatoes (114.69 per cent), Gas Charges for Q1 (108.38 per cent), Bananas (104.44 per cent), Gents Sponge Chappal (100.33 per cent), Wheat Flour (90.77 per cent), Rice Basmati Broken (86.30 per cent), Eggs (85.86 per cent), Rice Irri-6/9 (80.44 per cent), Petrol (79.85 per cent), Diesel (78.68 per cent), Pulse Moong (66.79 per cent), Bread (63.17 per cent), and Pulse Mash (57.06 per cent), while a decrease was observed in the prices of Tomatoes (38.30 per cent), Onions (30.18 per cent), and Chilies Powdered (6.48 per cent).

    A decrease was observed in the prices of food items: Onions (9.04 per cent), Garlic (1.76 per cent), Sugar (1.42 per cent), Wheat Flour (1.40 per cent), Vegetable Ghee 2.5kg (0.63 per cent), Mustard Oil (0.48 per cent), Pulse Masoor (0.40 per cent), Pulse Gram (0.12 per cent), and Vegetable Ghee 1kg (0.11 per cent); and non-food items: Diesel (10.38 per cent), Petrol (4.24 per cent), LPG (3.02 per cent), and Firewood (0.89 per cent).

    On the other hand, an increase was observed in the prices of Chicken (7.51 per cent), Tea Lipton (4.53 per cent), Gur (2.79 per cent), Eggs (2.29 per cent), Energy Saver (2.22 per cent), Tomatoes (2.11 per cent), Tea Prepared (1.09 per cent), and Curd (1.08 per cent).

    During the week, out of 51 items, prices of 23 (45.10 per cent) items increased, 13 (25.49 per cent) items decreased, and 15 (29.41 per cent) items remained stable.

  • Fact-Check: Have Imran Khan’s sons joined Twitter?

    Fact-Check: Have Imran Khan’s sons joined Twitter?

    Claim:

    Twitter accounts of both the sons of Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan have emerged on the micro-blogging site with usernames @SulemanIsaKhan and @kasimkhanreal. Many people are sharing tweets from the accounts, believing them to be Qasim and Suleman Khan.

    Fact:

    However, the screenshots of the accounts are fake, as are the accounts themselves.

    Imran Khan’s ex-wife and mother of his sons, Jemima Goldsmith, has confirmed that both accounts are imposters.
    “Fake accounts pretending to be my children, created by imposters with a political agenda in Pakistan. This is exactly what I feared would happen when you took away Twitter’s verification blue ticks. FYI my children are not on social media & have no plans to be,” she wrote in a tweet.

    Verdict: The verdict is false.

  • Renowned PCB official sacked, some in the line of fire

    Pakistan Cricket Board (PCB) Management Committee has seen immense changes after the arrival of Chairman Najam Sethi.

    Chief Medical Officer, Dr. Najeeb Soomro, has been sacked by the Board, and it is being said that he was unable to play his role in saving several players from injuries.

    Despite a power show of performance by the players in the New Zealand series, many players are playing without proper rest and recovery which caused problems for the management committee. Several players, including Yasir Shah, Shadab Khan, Shaheen Shah Afridi, Mohammad Wasim Jnr, Shahawaz Dahani, Fakhar Zaman, Hasan Ali, Mohammad Rizwan, Naseem Shah, and Imam-ul-Haq have suffered injuries. Despite not being fully fit, some players were given the go ahead to play, which not only aggravated their injuries but also affected the team.
    Meanwhile, PCB has given an advertisement for the post of Director Sports Medicine.

    Senior General Manager Finance and Accounts, Ateeq Rashid, was also recently asked to hand in his resignation. Another official was sacked due to apparent irregularities regarding honorary match tickets.

    Another director is now also on the hit list. Board officials are not satisfied with his work. Sethi is currently in England, therefore a decision is expected after his return to Pakistan.

  • 5 Pakistani’s make it to the Forbes ’30 Under 30′ list

    5 Pakistani’s make it to the Forbes ’30 Under 30′ list

    Forbes magazine has unveiled its highly anticipated list of 30 under 30 successful individuals across Asia, which features 300 people who have excelled in the fields of arts, tech, medicine and more. This year, spotted among the prodigies, are five Pakistanis who exceeded against the odds and made their mark in the fields of media, finance, marketing. Check them out below!

    Azam Mahmood as screenwriter for ‘Ramy’

    Originally from Karachi, Azam Mahmood is a story editor for the Peacock show ‘Queer As Folk’, who is also working with the Golden Globes award winning actor Ramy Youssef for the show ‘Ramy’.

    Anas Niaz as the founder of ‘Bioniks’

    Niaz is a mechatronics engineer who is the founder and CEO of Bioniks, a social enterprise from Karachi which is developing low-cost bionic arms using 3D printing technology, to create custom-made prosthetics which can allow users to manipulate objects using robotic fingers.

    Ayesha Mubarak Ali as a visual tech artist

    Mubarak is a multimedia visual tech artist whose work revolves around identity politics, space applications and the future of humanity. She made history by becoming the first Pakistani artist to collaborate with NASA scientists with her work being sent to the International Space Station for the Maleth II mission.

    Shershah Hassan and Waleed Amjad Islam, co-founders of KalPay

    Shershah Hassan and Waleed Amjad Islam are co-founders of the fin-tech startup KalPay, a Sharia compliant buy now pay later venture, which aims to provide financial access to a country where credit card use is less than 1%. The company had previously partnered with Pakistani ventures like Food Panda and Muawin to provide users with a convenient and easy way to conduct banking transactions.

  • Currency crisis alert: Pakistani rupee could drop to Rs350 against dollar without IMF assistance

    Currency crisis alert: Pakistani rupee could drop to Rs350 against dollar without IMF assistance

    The Pakistani rupee is poised to face a significant downfall, with expectations that it may plummet to as low as Rs350 against the US dollar. This alarming projection has raised concerns among stakeholders, as the weakening currency is anticipated to have far-reaching implications, particularly in terms of inflationary pressures that will disproportionately affect the lower and middle classes.

    According to Geo, the steep devaluation of the rupee, which has already lost approximately 20 per cent of its value this year, positions it among the worst-performing currencies worldwide.

    Experts, including economists Ankur Shukla and Abhishek Gupta, attribute this weakness to a range of factors. Capital flight from Pakistan is intensifying due to the growing apprehension that the International Monetary Fund (IMF) may not provide the much-needed bailout required to prevent a fiscal default in the upcoming fiscal year commencing in July.

    The delay in receiving aid, which has been stalled since November, is suspected to be linked to political unrest, further exacerbating the rupee’s decline. The country’s leadership has been plagued by instability since the removal of Imran Khan, Chairman of Pakistan Tehreek-e-Insaf (PTI), through a no-confidence motion vote in April last year.

    Khan’s recent arrest has heightened tensions between him, the government, and the military. Following his imprisonment, the rupee experienced a sharp drop to a record low of 299 per dollar, only to partially recover and stabilize at 285 after his release.

    Multiple experts are warning of an imminent massive drop in the rupee, with some analysts even foreseeing a further 20 per cent depreciation. The currency’s future trajectory heavily depends on the ongoing clashes between Khan and the government, as well as the IMF’s decision regarding financial assistance.

    Adil Ghaffar, CEO at Premier Financial Services Pvt in Karachi, concurs, stating that failure to secure the loan could lead to a slump in the rupee’s value to Rs350 per dollar in June. Market sentiment remains precarious, and economists such as Farooq Pasha highlight the persistent uncertainty surrounding the rupee’s path.

    In the near term, politics will continue to pose a key risk until the elections. The bond market has also been adversely affected, with bond investors growing increasingly nervous as the spread between Pakistan’s dollar bonds and US Treasuries reached a record high of over 35 per cent this month.

    With the looming prospect of the rupee’s significant decline, the economic landscape of Pakistan hangs in a precarious balance.

  • ‘Ignored all science, history, humanity’: Activist expresses anger over Shariah Court’s decision to declare changing gender ‘unislamic’

    ‘Ignored all science, history, humanity’: Activist expresses anger over Shariah Court’s decision to declare changing gender ‘unislamic’

    The Federal Shariat Court (FSC) has announced its verdict on pleas against the Transgender Persons Rights Act 2018, stating that no one can change their gender on the basis of their self-perceived identity, which means a person cannot change their gender at will.

    Gender will remain the same as it is assigned at the time of birth.

    Lawyer Asad Jamil wrote in a tweet,” FSC has accepted petitions challenging Transgender Persons Rights Act2018. Principle of self-perceived identity is declared unIslamic and cert defs in s.2 & 2020 Rules also declared unIslamic.”

    Transgender people’s gender will be decided on physical factors rather than their emotions. Section 2F has been repealed by the court, and section 3 of the act has also been declared null and void.


    Dr Mehrub Moiz Awan, while talking to The Current, expressed her disappointment with the verdict, “Federal Shariah Court has ignored all science, history, and humanity, to give a decision that looks like a copy paste out of a Western transphobic playbook.”

    “Ironic that Pakistani Shariah is much closer to JK Rowling and Candace Owens now, then it is to the fatwas of Imam Khomeini and Shah Tantawi that affirmed transgender existence back in the 80s,” she added.

  • Imran finally condemns attack on Lahore CC House

    Almost 10 days after Corp Commander House in Lahore was ransacked and burnt during protests by Pakistan Tehreek-e-Insaf (PTI) supporters, party Chairman Imran Khan has condemned the attack, Geo has reported.

    In an informal chat with journalists outside an anti-terrorism court in Lahore, Imran Khan said that the attacks led to Pakistan’s image being damaged, adding that they should not have happened.

    “I have condemned it earlier too. Every Pakistani is condemning it,” the former Prime Minister reportedly said.

    He also lashed out at the Pakistan Democratic Movement led government for “arresting 7000 people.” However, he said that he has been stressing on dialogue since 11 months.

  • Imran Khan asks NAB for his shaving kit left in police lines Islamabad

    Imran Khan asks NAB for his shaving kit left in police lines Islamabad

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has submitted a written response to the National Accountability Bureau (NAB) in connection with the Al-Qadir Trust case.
    The PTI chairman was summoned today by NAB in connection with an investigation related to a £190m settlement from the UK at 10am today.

    In the written response, Imran said that it was not possible for him to appear before NAB Rawalpindi and join the investigation as he was in Lahore for obtaining bail in a multitude of cases.

    Imran said that the allegations made by NAB are “absolutely false, frivolous and concocted”.

    He said he was in the process of applying for, and obtaining, bail in a number of other legal cases and would not be available before his protective bail expired on May 22.

    Imran has also asked back for his shaving kit and the clothes that he left behind in Police Lines Islamabad. “Kindly note that although the inquiry report was provided to me during custody, I could not carry the said Inquiry report, or for that matter, my clothes and shaving kit, with me when I attended the court proceedings before the honourable Islamabad High Court on 12-05-2023,” read the document.

    “As such, I would request that before serving me a Call Up Notice and pursuant thereto recording my statement and requiring production of documents accordingly, a copy of the said Inquiry report (along with my clothes and shaving kit that have been left behind in the room where I stayed in Police Lines Islamabad) may be immediately forwarded to me at my address at Zaman Park, or, in the alternate I will instruct my legal counsel in Islamabad, Mr. Gohar Ali Khan, ASC to visit your office at your convenience, to collect the copy of the report of Inquiry I left behind while proceeding to attend the Court hearing on 12-05-2009.”

  • Majority of Pakistanis can’t make ends meet on current income, survey finds

    Majority of Pakistanis can’t make ends meet on current income, survey finds

    In a recent consumer-based study conducted by Pulse Consultant in Pakistan, concerning findings have emerged regarding the financial state of individuals across the country. The study, which encompassed 1,180+ respondents from the top 10 cities of Pakistan, aimed to understand the ability of individuals to meet their monthly expenses in relation to their current income. The results shed light on the economic challenges faced by a significant portion of the population.

    The study revealed that a staggering 60 per cent of respondents reported an inability to fulfill their monthly expenses with their existing income. This indicates a considerable strain on individuals’ finances, leading them to struggle to cover their essential needs. Among these respondents, both male and female participants voiced similar concerns, with 59 per cent of males and 68 per cent of females expressing difficulties in meeting their expenses.

    On the other hand, 40 per cent of the respondents claimed that their current income adequately covered their expenses. However, further analysis of this group revealed some noteworthy insights. Of those who reported their expenses were being met, only 28 per cent claimed to save money from their current income, while the remaining 72 per cent stated that they were unable to save any funds. Interestingly, female respondents seemed to face greater challenges in saving money, with 82 per cent of them reporting an inability to do so, compared to 71 per cent of their male counterparts.

    Among the 60 per cent of respondents who struggled to meet their expenses, several coping mechanisms emerged. For 37 per cent of them, borrowing money became a necessity to bridge the financial gap. Notably, a higher proportion of males (39 per cent) resorted to borrowing, compared to females (29 per cent).

    Additionally, 22 per cent of those facing financial difficulties reported engaging in additional part-time employment to supplement their income. This was more prevalent among males (39 per cent) who often bore the responsibility of supporting their families financially, compared to females (29 per cent).

    Moreover, 40 per cent of respondents stated that reducing expenditures became their only viable option. Nearly half of the women (46 per cent) reported resorting to this measure, while 38 per cent of men followed suit.

    The study’s findings paint a concerning picture of the financial landscape in Pakistan, with a significant portion of the population struggling to make ends meet. The inability to meet monthly expenses can lead to increased financial stress, limited access to basic necessities, and hindered economic growth for individuals and the nation as a whole.

    Addressing these challenges will require comprehensive efforts from both the government and private sector. Policymakers should focus on initiatives that promote economic growth, job creation, and income equality. Additionally, there is a need for financial literacy programs to empower individuals with the knowledge and skills necessary to manage their finances effectively and make informed decisions.

    Furthermore, it is crucial for employers to offer fair wages and employment opportunities that align with the needs of the population. By providing stable jobs and suitable remuneration, individuals can have a better chance of meeting their expenses and improving their overall financial well-being.

    Ultimately, the findings of this consumer-based study highlight the pressing need to address the financial struggles faced by a significant portion of the Pakistani population. Through concerted efforts and targeted interventions, it is possible to alleviate the burden of financial hardship and foster a more financially inclusive and prosperous society for all.

  • ‘Army Act ke tehat kaarwaayi hosakti hai, magar nahin honi chaahiye’: PTI’s Ali Zafar on May 9th protesters

    ‘Army Act ke tehat kaarwaayi hosakti hai, magar nahin honi chaahiye’: PTI’s Ali Zafar on May 9th protesters

    Pakistan Tehreek-e-Insaf’s Senator Barrister Ali Zafar while talking to media about the May 9 protests, said that only those protesters can be prosecuted under Army Act who have actually attacked any military installations, adding that they should not be charged under a “conspiracy theory.”

    The Barrister continued by saying that action against those who attacked Army installations can be taken under Army Act. However, it should not happen because the matter is a political issue, adding that fair trial can only be provided in civil courts.

    He also condemned the attacks on Corp Commander House and other military installations, adding that he had told PTI Chairman Imran Khan the same thing.

    Read more: PDM be warned: allow Army Act trials and some day military laws might be used against you too

    A Special Corps Commander Conference held on Monday at the General Headquarters (GHQ), presided by Chief of Army Staff General Asim Munir, decided that the planners, instigators, abettors and perpetrators of the attacks on military installations and buildings during the protests led by Pakistan Tehreek-e-Insaf (PTI) supporters will be tried under relevant Pakistani laws, including the Army Act and Official Secret Act.