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Tag: Pakistan

  • Inflation worsens in Pakistan, affecting purchasing power of millions

    Inflation worsens in Pakistan, affecting purchasing power of millions

    The citizens of Pakistan, a poor country with a population of 220 million, have been struggling with record-high inflation due to the government’s inability to control prices. According to the weekly bulletin released by the Pakistan Bureau of Statistics (PBS), the weekly inflation increased by 46.82 per cent year-on-year and 0.15 per cent week-on-week, ending on April 27.

    The rise in the sensitive price indicator (SPI) was attributed to the increase in the prices of potatoes, chicken, wheat flour, gur, bread, and rice irri-6/9. On the other hand, there was a decrease in the prices of tomatoes, bananas, onions, sugar, LPG, pulse masoor, and mustard oil during the same period. The SPI for the week under review was recorded at 252.20 points, up from 251.83 points the previous week and 171.78 points recorded during the week ended on April 28, 2022.

    Fahad Rauf, head of research at Ismail Iqbal Securities, attributed the moderate increase in SPI mainly to the rise in the prices of potatoes and mutton. The price trend of perishable food items during the Eid week has been mixed, with the prices of some items going up and some going down. Ismail Iqbal Securities predicted that the CPI for April 2023 would come around 38 per cent, up from 35.4 per cent in March 2023, due to house rent revisions and higher wheat prices.

    The absence of the International Monetary Fund (IMF) programme and persistent inflationary pressures may result in another rate hike, as per Ismail Iqbal Securities. An interest rate hike could further discourage businesses, which have already postponed their expansion plans and hiring. Import restrictions have also added to the woes of industries and businesses that have faced frequent shutdowns, resulting in uncertain or no wages for millions of workers.

    The SPI is compiled by PBS by collecting prices of 51 essential items from 50 markets in 17 cities of the country. During the week, prices of 21 items increased by 41 per cent, while prices of seven items decreased by 13.73 per cent, and prices of 23 items remained unchanged, accounting for 45.10 per cent of the total. Various weightages are assigned to different commodities in the SPI basket, with milk, electricity, wheat flour, sugar, firewood, long cloth, and vegetable ghee having the highest weights for the lowest quintile. The price of milk and wheat flour increased, while the price of sugar decreased. The prices of electricity, firewood, long cloth, and vegetable ghee remained unchanged. However, the prices of all these commodities increased on a yearly basis.

  • More than 50 per cent of candidates failed in Urdu CSS exam in last three years

    In a surprising statistic, in the three last years at least 54.53 per cent of candidates, who appeared for the Central Superior Services (CSS) Examination failed Pakistan’s national language Urdu subject.

    In 2019, 30 per cent of candidates failed in Urdu, while in 2020 and 2021, the rate of failure shot up to 59 per cent and 73 per cent.

    Regarding the success rate in English, 35,000 out of 49,500 candidates failed in the subject in 2019 with a rate of failure of 73 per cent, which got better in 2020 when only 39 per cent got failed. However, in 2021, 92 per cent failed the subject.

    The details of the candidates were presented in the National Assembly (NA) on Friday.

  • ISPR says Bajwa’s statement that Pak isn’t ready to fight India is taken ‘out of context’

    The Inter-Services Public Relations (ISPR) has clarified that former Chief of Army Staff (COAS) Qamar Javed Bajwa’s statement about Pakistan army not being fully compatible to fight against India has been taken out of context.

    “To this end, views of the former army chief on the future threats to Pakistan, which he shared with media persons in an off-the-record interactive session, have been quoted out of context,” ISPR said.

    It added that the army “always took and will continue to take pride in our operational preparedness and utmost combat worthiness.”

    Earlier, Senior Journalist Hamid Mir said that Bajwa had told journalists in 2021 that the Pakistan Army is not capable of getting into combat against the rival country.

    He claimed that immediately after the ceasefire, Indian Prime Minister (PM) Narendra Modi had to visit Pakistan in 2021 but the then-Foreign Minister (FM) Shah Mahmood Qureshi and former PM Imran Khan weren’t aware of it.

    When Khan demanded that details regarding Modi’s visit should be given to Foreign Office (FO) “Bajwa came to the FO with his entire convoy and gave a lecture”.

    “This was the same lecture that he gave in front of us once too that army tanks are not capable of running and there is no diesel for troop movement,” the journalist said.

    The journalist’s claims were picked up by Indian media and reported by major news outlets.

  • Upcoming Pakistani dramas we’re incredibly excited about

    Upcoming Pakistani dramas we’re incredibly excited about

    There hasn’t been a better time to watch Pakistani dramas than now, what with a whole range of shows and actors set to make their mark on our screens. It looks like finally the entertainment industry has started listening to our calls for something other than the saas-bahu jhagray, because these shows range from celebrating women in sports to satire to exploring the thrills of first love.

    It also looks like Pakistanis are about to see fresh faces as well as some beloved actors make their debute on screen as Fawad Khan and Sanam Saeed are coming back once more, and Instagram influencers like Mamia Shahjaffer, Khushhal Khan and Dananeer are set to star as main leads.

    We’re definitely certain that you’re cancelling your plans to set up your movie night after scrolling through our list.

    22 Qadam

    Starring Hareem Farooq and Wahaj Ali, the drama is set to explore the lives of women in sports, through the story of Fari (played by Farooq) who aspires to become a cricketer. Speaking to The Current, Farooq called 22 Qadam “the voice of the unheard” and said that the sole inspiration behind this show was women like Sana Mir:

    “The first person that comes to our mind when you talk about women and cricket is Sana Mir, she’s been an inspiration for so many women out there. It is just about breaking stereotypes and the taboos out there that women can also excel in sports, and if nothing else it makes you more independent and gives you that confidence that allows you to face the world in the best way possible.”

    College Gate

    It looks like the entertainment industry has finally understood that there isn’t any one out there willnigly ready to sit down and listen to another shaadi story about underaged women marrying men twice their age, because we’re finally getting a story about college students and their personal experiences. The show, starring Khaqan Shahnawaz, Mamia Shahjaffer and veteran actress Saba Hameed, promises to be a drama unlike what has been shown before with topics like addiction, peer pressure and depression thrown into the story.

    Barzakh

    Starring power leads Fawad Khan and Sanam Saeed along with newcomer model Khushhal Khan, the series has definitely captured our attention, especially the fact that it is written and directed by the mastermind behind Churails (2018), Asim Abbasi. Speaking to Variety, Abbasi said that the inspiration for the series came after the death of his father and watching his own son grow into a young boy:

    “In the aftermath of my father’s passing, and witnessing my son grow into a young boy, I found myself consumed with nostalgia, and memories of times gone and loves lost. And I began to think about my fears – the end of consciousness, the end of imagination, the end of love. And from these fears, grew a story where love was indeed eternal. Where it survived us – making it the ultimate human legacy.”

    Producer of the series Kerjiwal said:

    “‘Barzakh’ is a product of COVID brain – it was a time where like everyone else, Asim and I were talking about love, life, death, losing loved ones, unable to say our goodbyes. There was a sense of loss, but also confusion, because of a lack of completion. Death and parting didn’t seem like a finality like it used to because funerals and weddings were both happening on Zoom.

    This new reality was surreal and to make any sense of it, physical contact or in-person meeting with friends and family became crucial. Hence the idea about a show which essentially was a family reunion came up.”

    101 Talakhien

    This looks like the perfect drama for anyone (especially us) who is bored to death of marriage obsessed culture, and wants something dark and satirical- which is exactly what the show promises to deliver. Zahid Ahmed stars as famous lawyer Rustom Kavasji, who artfully decodes how couples begin to fall apart after getting married.

    Muhabbat Gumshuda Meri

    This seems like a Pakistani version of K-dramas which will explore the thrills of high school relationships, because this trailer has already got us counting down the days to the release. TikTok star Dananeer and model and actor Khushhal Khan are the main leads of the drama and are shown to be complete opposites, who slowly come to fall in love with each other. However, their relationship is threatened by their parents leading to the couple going to any lengths to protect their relationship.

    Idiot

    Fans of Ahmed Ali Akbar who loved him in ‘Parizaad’ and ‘Ehd-e-Wafa’ are in for a treat because the hearthrob has already sparked anticipation with his upcoming film ‘Gunjal’ and now with his drama ‘Idiot’ where he is set to star opposite Mansha Pasha.

  • China’s $57.7 billion railway project aims to boost Pakistan’s economy

    China’s $57.7 billion railway project aims to boost Pakistan’s economy

    A study conducted by scientists from China Railway First Survey and Design Institute Group has estimated the cost of a proposed China-Pakistan railway project to be $57.7 billion. The railway will connect Gwadar Port with Xinjiang’s Kashgar, and is expected to have strategic significance, potentially reshaping trade and geopolitics. The project will improve connectivity among the countries along the ancient Silk Road trade routes and is part of a plan to reduce dependence on Western-dominated routes.

    The study urges the Chinese government and financial institutions to provide strong support for the project, including increasing coordination and collaboration among relevant domestic departments and striving for the injection of support funds. Pakistan’s economy is expected to receive a much-needed boost from the infrastructure and will easily trade with China. The researchers said the project is expected to create more jobs, boost infrastructure investment, and increase trade.

    However, the study notes that Pakistan’s GDP last year was just six times the estimated cost of the project, making sufficient financing difficult. Pakistan is mainly relying on Chinese enterprises for investment and construction, as it is unable to provide sufficient financial and material support.

    Moreover, the security issues in Pakistan pose a risk to Chinese workers and investments, which may hinder the railway project. Despite these challenges, the study emphasizes the strategic significance of the railway project and urges strong support and policy guarantees for its construction.

  • US urges Pakistan to implement IMF reforms as economic crisis deepens

    The United States has urged Pakistan to take urgent action to implement the necessary reforms required by the International Monetary Fund (IMF) to address the country’s rising economic crisis. Inflation has been a major issue for Pakistan, and discussions between the two parties have been ongoing since January to find a consensus on multiple conditions before signing a deal that includes external financing from friendly nations.


    Elizabeth Horst, the State Department official in charge of Pakistan, stressed the importance of Pakistan’s compliance with the IMF’s agreed-upon reforms to ensure the country’s financial stability and avoid falling further into debt. She emphasised that although the reforms may not be easy, they are essential for the growth of Pakistan’s economy.


    Horst also expressed the US government’s concern over Pakistan’s economic situation and promised support for the country, particularly in policy, business, and transparency. She pointed out that the trade relationship between the two countries is already worth over nine billion dollars and will continue to increase.


    Highlighting the close cooperation between the US and Pakistan in areas such as trade and investment, climate change, and security, Horst revealed that the Pakistan-US Green Alliance has been initiated to further enhance these relations. She emphasised the importance of Pakistan’s sovereignty and that it is free to make its own choices.


    The State Department official also emphasised that both countries are working together to ensure regional security, counter-terrorism, and counter-narcotics. She expressed concern over the rising number of terrorist incidents in Pakistan and stressed the importance of continuing cooperation between the two countries to prevent Afghanistan from becoming a haven for terrorists.


    Horst concluded by stating that a peaceful and stable Afghanistan is in the interest of both Pakistan and the US. She emphasised the importance of pushing the Taliban to fulfill their promises for peace and stability, as thousands of lives have already been affected by terrorism.

  • PTI wants general elections in July, amendment in constitution and much more

    PTI wants general elections in July, amendment in constitution and much more

    The Pakistan Democratic Movement-led government and Pakistan Tehreek-e-Insaf (PTI) finally sat together to discuss the matter of elections on Thursday.

    According to Geo News, the former ruling party PTI has put forward three conditions for reaching a consensus. One of them is that they want general elections in July instead of October.

    Other than this, PTI has asked the government to dissolve Balochistan and Sindh Assembly as well as National Assembly (NA) in May. Thirdly, the party wants an amendment in the constitution for simultaneous elections and for that, the resignations of their Member of National Assembly (MNA) have to be withdrawn.

    The first round of the negotiations lasted for two hours while the second round will be held today.

    It is important to mention that Supreme Cout (SC) gave May 14 as the date for polls in Punjab and KP, but later asked the political parties to negotiate with each other to reach a conclusion.

  • Pakistan’s economic stability remains fragile despite increase in forex reserves

    Pakistan’s economic stability remains fragile despite increase in forex reserves

    As the country tries to find ways to secure external financing and keep itself afloat, the State Bank of Pakistan (SBP)-held foreign exchange reserves recorded a meagre rise. The SBP, in its weekly bulletin, mentioned its reserves have jumped by $30 million to $4.46 billion as of April 20, which will provide an import cover of less than a month — a position that has been the same for several months now.


    The net foreign reserves held by commercial banks stand at $5.56 billion, $1.1 billion more than the SBP, taking the total liquid foreign reserves to $10.02 billion. Although the central bank did not specify the reason behind the increase, there was a $300 million rise in the reserves last week — which was due to the loan provided by the Industrial and Commercial Bank of China.


    The $350 billion economy is in turmoil amid financial woes and the delay in an agreement with the International Monetary Fund (IMF) that would release much-needed funding crucial to avoid the risk of default.


    The government has been in talks with the Washington-based lender since end-January to resume the $1.1 billion loan tranche that has been on hold since November, part of a $6.5 billion Extended Fund Facility (EFF) agreed upon in 2019. A deal with the IMF will also unlock other bilateral and multilateral financing avenues for Pakistan to shore up its foreign exchange reserves.


    Finance Minister Ishaq Dar said earlier this week that Pakistan has “fulfilled all the conditions” of the IMF and hoped that the Fund would soon sign the staff-level agreement. Speaking to Geo News, Dar said both Saudi Arabia and the United Arab Emirates (UAE) have informed the IMF about their commitments to provide $3 billion to Pakistan.


    Riyadh will provide $2 billion while Abu Dhabi has promised $1 billion to Pakistan, Dar said, adding that the Washington-based lender has also been informed in this regard.


    The finance minister said all the conditions for the staff-level agreement between Pakistan and IMF have been fulfilled. “Pakistan is hopeful that IMF will soon sign the SLA and get it approved by its Executive Board,” Ishaq Dar added.

  • Pakistan set to receive cheap Russian oil, says PM Shehbaz

    During a National Assembly session on Thursday, Pakistan’s Prime Minister, Shehbaz Sharif, announced that the country is set to receive cheap oil from Russia.

    Minister of State for Petroleum, Musadik Malik, had previously confirmed that the government had made its first purchase of Russian crude oil, and a shipment is expected to arrive at Karachi port in May.

    Malik also revealed that the country aims to import 100,000 barrels of Russian crude oil per day, subject to the success of the first transaction.

    In the initial stages, Pakistan Refinery Limited will conduct a trial run to refine the crude oil, with other refineries, including Pak-Arab Refinery Limited, set to follow suit.

    This move marks a significant step forward for Pakistan’s oil industry, which has traditionally relied on imports from the Middle East.

  • Pakistan’s first female architect Yasmeen Lari receives Royal Gold Medal from King Charles

    Pakistan’s first female architect Yasmeen Lari has been granted the prestigious Royal Gold Medal for architecture from King Charles, making it the first architecture medal of his reign.

    The renowned Lari received the award in recognition for her role in designing homes for Pakistan’s vulnerable and poverty striken community, after retirement from her practice:

    “Whilst recognising the importance of her role in practice, as a symbol of change in Pakistan, it is the work she has undertaken since her retirement in 2000 that the Royal Gold Medal celebrates.”

    “In the last 23 years Lari and The Heritage Foundation of Pakistan, which she founded with her husband, have reacted imaginatively and creatively to the physical and psychological damage that a number of major natural disasters, earthquakes, floods and conflicts have inflicted on the people of Pakistan.”

    Lari was born in Dera Ghazi Khan and shifted to London with her family when she was 15, where she studied at the Oxford Brookes University, moving back to Karachi in 1964 and opening Lari Associates alongside her husband.

    The duo also founded the Heritage Foundation of Pakistan in 1980, which has been spearheading conservation projects around rural villages in Pakistan, earning it the Recognition Award from the United Nations.

    She received the Sitara-e-Imtiaz in 2006 and the Fukoka Award in 2016 for her services to arts and culture.