Current Final

Tag: Pakistan

  • Pakistan’s hopes for IMF agreement rise as Saudi Arabia confirms $2 billion in additional deposits

    Pakistan’s hopes for IMF agreement rise as Saudi Arabia confirms $2 billion in additional deposits

    The International Monetary Fund (IMF) has informed Pakistan that Saudi Arabia has confirmed $2 billion in additional deposits, which has rekindled hopes of an early agreement signing. Since January, Islamabad has been negotiating with the IMF for the release of $1.1 billion from a $6.5 billion bailout package that was agreed upon in 2019.

    To unlock the funding, the Pakistani government has cut back on subsidies, removed an artificial cap on the exchange rate, added taxes, and raised fuel prices. However, assurances from friendly nations for additional funds have delayed the agreement.

    The lender has informed Pakistani authorities of the development and the Fund staff is reportedly satisfied with the latest confirmation. The report states that the Saudi authorities are set to make a public announcement, possibly during the upcoming visit of Prime Minister Shehbaz Sharif to the kingdom.

    The Saudi envoy in Pakistan had also hinted in a recent interview that his country had always supported Pakistan in critical situations and that good news would be shared soon. The sources have stated that all eyes are focused on the UAE for getting confirmation on another $1 billion deposit from them, which may pave the way for striking the staff-level agreement (SLA) with the IMF.

    Finance Minister Ishaq Dar is expected to visit UAE on his way to the US where he will hold talks on the release of funds. However, there is still another stumbling block in the way of signing the SLA with the IMF. The Ministry of Petroleum, in consultation with the PM Office, had announced an unplanned cross-fuel subsidy for owners of motorcycles and cars up to 800cc, which needs to be scrapped at this stage.

    The government has not yet withdrawn the proposed cross-fuel subsidy, which cannot be implemented in a half-baked manner. Such schemes were considered in the past during the tenure of former finance minister Shaukat Tarin and even during the era of the PDM-led government when Miftah Ismail had the charge of the Ministry of Finance.

    Even Miftah Ismail had allocated Rs48 billion on the eve of the last budget in the name of Sasta Petrol, but it could not be implemented because such schemes could not be designed properly. The announcement of a half-baked cross-fuel subsidy had provided an excuse to the IMF for delaying the SLA signing, as they were still raising questions for getting more details to ascertain how the scheme was going to be implemented in a transparent manner.

  • ECP announces polls in Punjab on May 14, issues schedule

    ECP announces polls in Punjab on May 14, issues schedule

    The Election Commission of Pakistan’s (ECP) on Wednesday announced that polls in Punjab will be held on May 14 as directed by the Supreme Court.

    As per the revised schedule, the process will start from appeals against acceptance or rejection of nomination papers which can be filed by April 10, while the appellate tribunal will decide the appeals by April 17.

    Revised lists of candidates for each constituency will be published on April 18, while candidates can withdraw their nominations by April 19.

    Election symbols will be allotted on April 20, while polling will be held on May 14.

  • People will take to streets if SC ruling blocked, warns Khan

    People will take to streets if SC ruling blocked, warns Khan

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has warned that people would take to the streets if the government attempts to block the implementation of the Supreme Court’s (SC) ruling that directed polls in Punjab to be held on May 14.

    The former Prime Minister talked to his supporters via video link as the party marked ‘Youm-e-Tashakkur’ or ‘thanks giving’ to celebrate the top courts verdict. The speech was broadcasted from his Zaman Park residence through a satellite link on mega screens installed at 75 locations across the country, including in 13 cities of Punjab.

    Addressing his supporters, the former prime minister said, “The nation should wait for my call to ensure that the incumbent rulers should not run away from holding elections; otherwise, neither history nor future generations will pardon this generation for not waging jihad against the forces undermining the rule of law.”

    Talking about elections, Khan said, “I will complete interviews and selection of candidates in 10 days,” adding that the nation will not let the incumbent rulers run away from elections.

    Talking about his rivals, Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif and Pakistan People’s Party (PPP) Co-Chairperson Asif Ali Zardari, Khan said ‘absconder’ Nawaz Sharif and Asif Ali Zardari were sitting in London and Dubai, respectively, and taking decisions about the fate of Pakistan. 

    The PTI chairman further lamented that the incumbent rulers were also trying to divide the Supreme Court while also working to create a rift between the PTI and the establishment, which “might repeat events of 1971”.

  • Gas shortage worsens in Pakistan amid rising demand and low reserves

    Gas shortage worsens in Pakistan amid rising demand and low reserves

    Minister of State for Petroleum, Musadik Malik, stated on Wednesday that the general public cannot receive gas 24/7 due to a decline in the commodity’s reserves, which is a significant reason. Pakistan relies heavily on natural gas for energy, and with increasing demand and insufficient supply, load shedding has become a daily occurrence in many areas of the country. This situation worsens during Ramadan when Pakistanis consume more gas for cooking and other purposes, particularly during sehri and iftar timings.

    During a conversation with journalists in Karachi, the minister mentioned that gas load shedding would end during sehar and iftar but did not specify when. “We cannot provide gas for 24 hours as our reserves have decreased,” he stated. Recently, the issue of gas scarcity in Karachi has caught the attention of Prime Minister Shehbaz Sharif, who has directed relevant officials to ensure an uninterrupted supply of the commodity. He has instructed that the supply of gas must be monitored, and no negligence should be tolerated.

    Due to the widening gap between gas supply and demand, the Sui Southern Gas Company (SSGC) has announced its decision to suspend supplies to captive power plants and industries. The gas utility has stated that this decision has been made due to low gas supply, and the volume of gas in pipelines has decreased. In response, the Karachi Chamber of Commerce and Industry (KCCI) has called for immediate government action to address the shortage of gas supply to Karachi’s industries, stating that the industries cannot operate without gas and would be forced to halt production.

    KCCI President Muhammad Tariq Yousuf said, “It is highly unfair to have such an attitude towards Karachi’s business community, which, despite facing so many challenges, contributes around 54 per cent in terms of exports and more than 68 per cent in terms of revenue.”

    While talking to journalists, Malik said that his visit to Karachi was aimed at resolving the gas supply issues faced by the people and urged them to pay their utility bills. “The gas bill of the rich and poor has been separated; rich people will have to pay more now,” he said, adding that the separation of gas bills for the rich and the poor was now in effect.

  • PTI to celebrate Youm-i-Tashakur in over 75 cities across all provinces today

    PTI to celebrate Youm-i-Tashakur in over 75 cities across all provinces today

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan took to Twitter on Wednesday to announce that his party and supporters will celebrate Youm-i-Tashakur in over 75 cities across Pakistan after Isha prayers today.

    Khan’s announcement comes after Supreme Court (SC) on Tuesday declared Election Commission of Pakistan’s (ECP) decision on delay in Punjab and Khyber Pakhtunkhwa (KP) polls null and void. 

    Khan said, “SC has stood with Constitution & put an end to Doctrine of Necessity, which is used in the absence of Rule of Law. This is also a huge step forward towards Haqeeqi Azadi.”

    The PTI chairman said that he will address and warn his people of the real danger that, despite the SC order, the ruling mafia will still not hold elections because they are petrified of losing.

    “We must be prepared to come out on the streets for peaceful protest in support & protection of SC, which is upholding Constitution,” tweeted Khan.

    The Supreme Court, in its verdict, declared the electoral body’s decision to hold polls on October 8 as “unconstitutional”.

    A three-member bench headed by Chief Justice of Pakistan Umar Ata Bandial, comprising Justice Ijaz Ul Ahsan and Justice Munib Akhtar, announced that Punjab polls should be conducted on May 14.

    Regarding the elections in Khyber Pakhtunkhwa, the three-member bench said during the course of the hearing nobody represented the provincial governor therefore the issue, only till this extent, will remain under debate.

  • Israeli police attack worshippers in Ramzan during Al-Aqsa Mosque raid

    Israeli police attack worshippers in Ramzan during Al-Aqsa Mosque raid

    Israeli police have attacked and arrested Palestinian worshippers in a violent raid on the Al-Aqsa Mosque in Ramzan.

    In a statement, police said they had “arrested and removed over 350 individuals that violently barricaded” themselves inside the mosque in the Old City of annexed East Jerusalem.

    According to the Palestinian Red Crescent, injuries were reported as a result of the raid but it was not clear how many were hurt. It was also said that medics were prevented from reaching the mosque by the Israeli forces. 

    “I was sitting on a chair reciting (Qur’an),” an elderly woman told Reuters while sitting outside the mosque. “They hurled stun grenades, one of them hit my chest,” she said as she began to cry.

    The Israeli police claimed in a statement that they had to enter the mosque after “masked agitators” locked themselves inside with fireworks, sticks and stones.

    “When the police entered, stones were thrown at them and fireworks were fired from inside the mosque by a large group of agitators,” the statement said, adding that one of the police officers was wounded in the leg.

  • Gold price in Pakistan hits new record high of Rs214,500 per tola

    Gold price in Pakistan hits new record high of Rs214,500 per tola

    Tuesday saw a historic moment for Pakistan as the price of gold soared to an all-time high, hitting Rs214,500 per tola (11.66 grammes). The cause of this surge was multifaceted, with the global market’s uptrend playing a part, alongside the rupee’s historic low against the US dollar in the interbank trade.

    The rupee had plummeted to a never-before-seen low of Rs287.29 against the US dollar in the interbank market, and the surge in gold prices was a reflection of this movement. The ripple effect was felt across the country as traders scrambled to adjust to the new reality of the local bullion market.

    In a surge that grabbed headlines across Pakistan, the price of 24-carat gold soared to an all-time high on Tuesday, hitting Rs214,500 per tola and Rs183,900 per 10 grams, according to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). It was a clear reflection of the rupee’s movement, which had plummeted to a historic low of Rs287.29 against the US dollar in the interbank market, as well as an uptrend in global markets.

    As inflation rates in Pakistan reached a nearly all-time high of 35.4 per cent in March, people felt the pinch of rising consumer prices on their budgets, prompting them to turn to gold. This precious commodity has always been considered a hedge against inflation, with its value increasing as the purchasing power of the dollar declines. During the two-day period from Monday to Tuesday, gold gained Rs5,200 per tola.

    Economic tensions have been on the rise, with the International Monetary Fund (IMF) scrutinizing external financing commitments from friendly countries before releasing bailout funds. The delay in the revival of the program had a negative impact on the currency market, which, in turn, fueled demand for gold. Investors’ attention turned to this precious commodity as a safe haven in these uncertain times.

  • We asked Chat GPT to write a Pakistani horror story and this was the result

    We asked Chat GPT to write a Pakistani horror story and this was the result

    Chat GPT has swept the world up in its wake, generating responses to all kinds of topics and triggering a debate on how good it is or isn’t at its job. By simply entering a few keywords and prompts, the artificial intelligence chatbot can be used to write letters, college application essays and even novels, with Amazon already enlisting books where the co-author includes the AI bot.

    We were curious about ChatGPT’s storytelling capabilities, wondering if it is good enough to write a Pakistani story? We have all grown up listening to horror stories like Karsaaz ki Dulhan, the wandering woman at Mohatta Palace, so can Chat GPT give us something equally eerie and chilling?

    The result is printed here and we leave it to our audience to decide whether this was a good spooky story or not:

    “Once upon a time in Karachi, there was a family named Ahmed. They lived in a big house, where multiple generations of the family resided. The house was luxurious with plenty of large rooms, but there were always rumors about mysterious things that happened inside the house at night.

    One day, a new family moved next door to the Ahmeds. They had a daughter named Aisha who was just six years old. Aisha was a curious little girl who could be found playing in the front yard of her house every day. One day while playing, Aisha caught sight of the house next door. She couldn’t take her eyes off the house, so she walked up to the fence separating their properties.

    Suddenly, she saw a ghostly apparition with long hair and an old-fashioned dress in the window of the house next door. Terrified, Aisha ran back to her parents and told them everything. They didn’t believe her, thinking it was just her imagination.

    That night, the Ahmeds also noticed something unusual: the sound of footsteps could be heard from within the house. It sounded like someone was walking down the hallway. They were all very scared, and some members of the family started to believe the rumors they had heard about the house.

    Finally, the elder members of the Ahmed family decided to investigate. They searched the entire house but found nothing. But the very next night, the footsteps became louder and the ghostly apparition again appeared in the window. This time, everyone saw it.

    They decided to approach the local priest to help them with this situation. The priest told them that the house was built on an ancient burial ground, and the person buried there had been murdered. The restless soul of that victim was haunting the house, and it had now become more active because of Aisha’s presence.

    The family was very scared, but the priest performed an exorcism and recited some holy verses to calm the spirit. Soon the house was free of the ghostly presence, and the family members were able to live there in peace.

    From that day on, the Ahmed family knew that they should never underestimate the power of spirits and the potential for paranormal activity. They lived on, never forgetting what had happened and always being careful to not disturb the burial grounds next door.”

  • Senators protest against same-sex family chapter in O-levels Sociology book

    Rana Tanveer Hussain, Federal Minister for Education and Professional Training, assured the Senate on Tuesday a letter is being written to Cambridge to remove the highly objectionable content (Same-Sex Family chapter) from the O-Level sociology book, reports The News.

    “We are immediately writing to Cambridge to either delete the related chapter or we shall not allow such books here. The government will also write to the provinces to take necessary measures in this connection,” the minister said.

    Rana Tanveer was responding to a calling attention notice moved by senators Mohsin Aziz and Faisal Saleem Rehman. The senators had raised objections terming the content being contrary to Islamic and cultural teachings and values of Pakistani society.

    Senator Mohsin Aziz said the chapter on “Same-Sex Family” could not be even discussed in the family system here in the Islamic Republic of Pakistan.

    “What kind of education is being imparted to a child, hardly 14, 15 and 16 years old”, he asked.

    He also read out some portions of the content. He regretted the terms lesbian and gays used in the chapter and wondered how such things were looked at by the authorities.

  • A friend in need’s a friend indeed: Babar Azam saves Shadab Khan as vice-captain

    A friend in need’s a friend indeed: Babar Azam saves Shadab Khan as vice-captain

    From the last couple of weeks speculation was rife in media reports that officials of Pakistan Cricket Board (PCB) are not happy with the vice-captain of the national cricket team, Shadab Khan. Sources had told news media that PCB are looking for a new vice-captain while considering resting Shadab Khan for the New Zealand series.

    However, the management has followed the advice of captain Babar Azam and retained Shadab as vice-captain.

    Reportedly Babar Azam excluded Imad Wasim from the ODI squad but kept him in the T20 Squad with PCB backing the captain’s decisions.

    According to media reports, PCB initially planned to give rest to Shadab Khan while Usama Mir was under consideration to play in the home series against New Zealand.

    Shadab Khan’s relations with management seem to be rocky.
    Shadab was appointed as the stand-in captain for the Afghanistan series but the team suffered a historic defeat in the matches.

    Matters got worse when in the post-match press conference, Shadab said that now the management and nation will know the importance of key senior players.
    Higher authorities were purportedly displeased with the statement.

    Rumors of removing Khan from vice-captaincy faced backlash from former Test stars and social media with the hashtag #DestroyerNajamSethi trending on Twitter against the chairman of the PCB Management Committee.

    Sources reveal that the captain has reportedly urged the board to avoid further experimentation ahead of the upcoming ICC World Cup 2023 scheduled in India.

    Given the current schedule, players cannot be afforded rest, and therefore, the decision was made to retain Shadab Khan as vice-captain due to his performance.

    However, all is not well, as Imad Wasim has expressed disappointment over Babar Azam’s alleged condition of being made captain of the PSL franchise Karachi Kings, and the subsequent lack of trust shown towards him in that role.

    However, Imad has reclaimed the reins of Karachi Kings following Babar’s move to Peshawar Zalmi, and his impressive performance in Sharjah makes it difficult for the team management to leave him out of the playing eleven.