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Tag: Pakistan

  • ANI propagating baseless propaganda against China, Pakistan: EU Disinfo Lab

    ANI propagating baseless propaganda against China, Pakistan: EU Disinfo Lab

    The European Union (EU) DisinfoLab in its latest investigative report has highlighted that leading Indian media outlet Asian News International (ANI) is engaged in baseless propaganda against China and Pakistan by referring to sources that “do not exist”.

    “The narratives pushed by these fake personae and/or organisations are almost entirely about criticising Pakistan and China, countries that are not India’s greatest allies on the international stage,” said the report called ‘Bad Sources (BS).’

    The report is a follow-up to two previous investigations published in 2019 and 2020.

    The investigation reveals that the news agency repeatedly quoted a think tank that was dissolved in 2014. Moreover, it has been using quotes from non-existent journalists, bloggers and geopolitical experts.

    “Fake personae, self-described as James Bond fans, basketball players and management consultants, became geopolitical experts quoted by ANI numerous times on topics such as Pakistan’s army doctrines and China’s ‘wolf warrior diplomacy’,” said the DisinfoLab.

    “A think tank, dissolved in 2014, is now quoted about twice a week by ANI,” as per the report.”The think tank’s website falsely mentions real Canadian university professors as participants in a conference that they never attended, even concocting false quotes by these academics,” it said.

  • ‘I will visit Pakistan this year,’ Bollywood actress Sonam Bajwa

    ‘I will visit Pakistan this year,’ Bollywood actress Sonam Bajwa

    Bollywood actress and model Sonam Bajwa held a Q&A session with fans on Twitter and announced that she will definitely come to visit Pakistan this year.

    “I will definitely come this year,” she responded to a fan’s request to visit Pakistan.

    Previously, Bajwa had expressed her love for Pakistani actor Mahira Khan on a Twitter post. When a twitter user had asked her to comment on the trolls coming after Mahira Khan for looking similar to her, Bajwa responded:
    “I love love and love Mahira Khan.”

    Mahira had responded with ‘Hey you 🙂 sending you lots of love x’

    Bajwa had also previously revealed that she had a crush on singer and actor Fawad Khan. In a conversation with Connect FM Canada, Bajwa revealed that if Khan was not married, she would have dated him.

     “I don’t eye on married men. It’s Fawad Khan, so if he wasn’t wed, I’d make my move.”

  • SBP-held forex reserves increase by $66 million as Pakistan seeks critical IMF loan tranche

    SBP-held forex reserves increase by $66 million as Pakistan seeks critical IMF loan tranche

    The State Bank of Pakistan (SBP) has reported a minor increase in its foreign exchange reserves, as the nation desperately seeks to unlock a critical tranche of funding from the International Monetary Fund (IMF).

    The central bank stated that its reserves had risen by $66 million to $3,258.5 million as of the week ended February 17, providing an import cover of around three weeks. The net foreign reserves held by commercial banks were reported to stand at $5,468.0 million, $2,209.5 million more than the SBP, taking the total liquid foreign reserves to $8,726.5 million.

    China development bank approves $700 million facility for Pakistan

    Finance Minister Ishaq Dar has announced that the forex reserves are expected to receive a significant boost in the coming week, as the Board of China Development Bank has approved a $700 million facility for Pakistan. The funds could be deposited into the SBP’s account this week.

    Pakistan takes austerity measures in a bid to resume IMF programme

    In a bid to resume the delayed IMF programme and avoid default, the Pakistani government has taken a series of steps in the past two months. These measures include adding new taxes, increasing energy prices, and loosening its control on the rupee.

    Parliament approved a supplementary finance bill that increases sales tax from 17 per cent to 25 per cent on imports ranging from cars and household appliances to chocolates and cosmetics. People will also have to pay more for business-class air travel, wedding halls, mobile phones, and sunglasses. A general sales tax was raised from 17 per cent to 18 per cent.

    Prime Minister Shehbaz Sharif also unveiled cost-cutting measures to save $764 million annually, stating that austerity, simplicity, and sacrifice are the need of the hour.

    Concerns over Pakistan’s debt and dollar crunch

    Fitch Ratings, a global credit ratings agency, has downgraded Pakistan’s $350 billion economy twice in four months, citing dwindling foreign reserves. Bloomberg data shows that Pakistan has coupon repayments of $542.5 million this year.

    In all, the country has $8 billion in dollar bonds debt due by 2051, with the next payment of $1 billion due in April of next year. Most of the nation’s external debt of about $100 billion is sourced from concessional multilateral and bilateral sources.

    Pakistan also faces a dollar crunch that tests its external stability, and supply disruptions caused by flooding, food shortages, and IMF preconditions for rescue may push inflation above 30 per cent for the first time on record, according to Bloomberg Economics.

  • Father kills sleeping son for not offering fajr prayers

    Father kills sleeping son for not offering fajr prayers

    In a shocking incident, a 24-year-old man named Muhammad Sohail was killed by his father for not offering fajr prayers on Wednesday morning.

    The incident took place in the Gulistan-e-Johar area of Karachi where the father, identified as Haji Muhammad Saeed, returned from offering fajr prayers and found his son sleeping. Without any warning, the father hit the boy with a hammer, killing him.

    The accused claimed that he had repeatedly warned his children, including Sohail, to offer prayers on time, but the victim did not pay heed. Frustrated and angry, he lost control and killed his own son.

    The police were notified of the crime and have arrested the accused. A hammer and a knife, which are believed to have been used in the murder, were also found at the crime scene.

    A murder case has also been registered against the father.

  • Six terrorists shot down by CTD in Lakki Marwat operation

    Six terrorists shot down by CTD in Lakki Marwat operation

    At least six terrorists were gunned down during an operation in the Dadowala area of Lakki Marwat in Khyber Pakhtunkhwa (KP), counter-terrorism department (CTD) officials have confirmed.

    According to the CTD, ammunition and explosives were recovered from the slain terrorists who were involved in terror attacks and assaults on security forces.

    CTD added that the operation was launched after it received information regarding the presence of the terrorists in Dadowala. The department added that the terrorists were planning to launch an attack on the Abbasia police check post.

    Terrorism is rising again across the country as attacks increased since the end of the ceasefire with the Tehreek-e-Taliban Pakistan (TTP) last year.

  • Yamaha passes sales tax burden to customers: YBR 125G price increased to Rs353,000

    Yamaha passes sales tax burden to customers: YBR 125G price increased to Rs353,000

    Yamaha has recently announced its first price increase of 2023, affecting all of its motorcycles. The latest announcement marks the second increase in prices since December, with the highest increase being up to Rs3,500.

    Despite this, Yamaha has implemented the smallest price increases compared to its competitors and has only raised its bike prices once this year.

    In contrast, Yamaha increased its bike prices seven times last year. Due to the persistent economic issues in Pakistan, dealers and industry experts are anticipating further price hikes this year.

    According to recent data, a significant proportion of bike manufacturing has been localised in Pakistan. As such, there appears to be little justification for motorcycle manufacturers to frequently and substantially increase their prices.

    VariantOld Price (Rs)New Price (Rs)Increase (Rs)
    YB 125Z305,500308,5003,000
    YB 125Z DX327,000330,5003,500
    YBR 125336,000339,5003,500
    YBR 125G349,500353,0003,500
    YBR 125G (Matte Gray)352,500356,0003,500
  • Aurat March 2023: Feminism in the time of crisis

    Aurat March 2023: Feminism in the time of crisis

    Feminist social movement Aurat March has unveiled their theme for this year: Feminism in the time of crisis.


    The movement elaborated on the significance behind this theme on Twitter, revealing that it will address the ongoing security, climate and economic issues currently plaguing the country.

    “We demand a feminist response to these crisis: one that centers the voices and experiences of one of the most affected and prioritizes justice and equity for all.

    These responses must be democratic and equitable. A Pakistan plagued by regional, ethnic and class inequity is unacceptable. We cannot afford to ignore the intersectional impacts of these crises any longer.

    Pakistan is plagued with challenges on multiple fronts including security and safety crisis, economic crisis, climate crisis and a relentless crisis of gendered violence. We know that these issues are deeply rooted in the patriarchal system that prioritize masculine politics and ignores the needs and rights of gender minorities and marginalized communities.

    It’s time to demand a better future for all.

    Join us on 8th March.”

  • President Alvi approves mini-budget amidst concerns of pushing Pakistanis into deeper poverty

    President Alvi approves mini-budget amidst concerns of pushing Pakistanis into deeper poverty

    President Dr Arif Alvi has given his approval for the Finance (Supplementary) Bill 2023, also known as the mini-budget, under Article 75 of the Constitution, which requires the president to assent to a bill presented to him within 10 days.

    National Assembly had passed the Rs170 billion mini-budget with some modifications, which will have an annual impact of about Rs550 billion.

    The budget’s approval has brought Pakistan closer to an agreement with the International Monetary Fund (IMF) but at the cost of pushing people deeper into the poverty trap.

    The majority of the taxation measures were implemented, although the president had not given his assent when the National Assembly passed the bill.

    Finance Minister Ishaq Dar admitted during his wind-up speech that inflation was unbearable for the people and blamed the maladministration of the previous government of former prime minister Imran Khan.

    Dar also admitted that the news stories about Rs675 billion to Rs700 billion taxes were not untrue and the IMF had demanded those measures, which the government did not accept. Dar added that almost all major issues with the IMF had been sorted out, and Pakistan is now very near to the staff-level agreement.

  • China’s $700 million loan to boost Pakistan’s foreign exchange reserves

    China’s $700 million loan to boost Pakistan’s foreign exchange reserves

    Pakistan’s Finance Minister Ishaq Dar has announced that the Board of China Development Bank has approved a credit facility of $700 million for Pakistan, and all formalities have been completed.

    This announcement was made through a tweet, and the loan is expected to be received by the State Bank of Pakistan this week, which will help to boost the country’s forex reserves.

    According to Reuters, the credit facility, provided by the state-owned China Development Bank, will increase Pakistan’s forex reserves by about 20 per cent. This comes at a time when the country is in talks with the International Monetary Fund (IMF) to unlock funds from a $6.5 billion bailout. The loan is in addition to other facilities that China has already extended to Pakistan, and a finance ministry official has stated that the money could arrive as early as Thursday.

    China Development Bank did not respond to a faxed request for comment. Currently, China is Pakistan’s largest creditor, and its commercial banks hold approximately 30 per cent of the country’s external debt.

  • IMF likely to announce staff level agreement with Pakistan by this week

    IMF likely to announce staff level agreement with Pakistan by this week

    According to Syed Naveed Qamar, the Federal Minister for Commerce, Pakistan has taken all necessary measures to unfreeze a $6.5 billion credit line and is expected to reach a staff level agreement (SLA) on Extended Fund Facility (EFF) with the International Monetary Fund (IMF) this week.

    Dr Aisha Ghaus Pasha, the Minister of State for Finance, stated that Pakistan and the IMF are close to reaching an SLA, but that basic structural reforms are necessary regardless of whether they are part of the IMF program or not.

    After the formal announcement, Pakistan will receive a $1.2 billion tranche under the EFF. Qamar stated that the agreement would give investors and creditors confidence in Pakistan’s stabilising economy and that their money would remain protected.

    Qamar emphasized that the IMF program is the beginning of other funds flowing in and that increased imports would benefit exports.

    However, Pakistan is struggling to meet the tough conditions set by the IMF, such as increasing its low tax base, ending exemptions for the export sector, and raising artificially low energy prices. The country is in dire need of funds as the State Bank of Pakistan-held foreign exchange reserves only cover one month of imports.

    To meet IMF conditions, Pakistan has raised taxes, cut subsidies, and devalued its currency. Additionally, a supplementary finance bill was approved that increases sales tax from 17 per cent to 25 per cent on imports and raises general sales tax from 17 per cent to 18 per cent, increasing the burden on already inflation-stricken people.