Author: newsdesk

  • Weekly inflation in Pakistan jumps to 42.3% as prices increase ahead of Ramadan

    Weekly inflation in Pakistan jumps to 42.3% as prices increase ahead of Ramadan

    According to data released by the Pakistan Bureau of Statistics (PBS) on Friday, weekly inflation surged by 1.37 per cent week-on-week and 42.27 per cent year-on-year during the week ended March 9. This marks a 25-week high on an annualized basis, as prices of perishables have started to rise ahead of Ramadan. The surge in the sensitive price indicator (SPI) was attributed to the increase in prices of various commodities, including tomatoes, potatoes, onions, sugar, bananas, cooking oil, wheat flour, vegetable ghee, printed lawn, curd, milk, tea, shirting, broken basmati rice, and powdered salt. Meanwhile, a major decrease was observed in the prices of chicken, garlic, pulse moong, eggs, pulse masoor, LPG, firewood, and pulse gram.

    For the week under review, SPI was recorded at 243.87 points, compared to 240.57 points registered last week and 171.41 points recorded during the week ended March 10, 2022. Brokerage Arif Habib Limited noted that this was the highest weekly YoY number since September 8, 2022, when Pakistan recorded a rise of 42.70 per cent YoY on account of an all-time high in the prices of wheat flour following massive flooding across the fertile plains of Punjab and Sindh.

    The PBS data attributed the YoY rise in SPI to the jump in the prices of onions, cigarettes, gas charges for Q1, diesel, eggs, rice Irri-6/9, petrol, broken basmati rice, bananas, pulse moong, tea, pulse mash, pulse gram, and bread. Inflation has been rising sharply over the past couple of years, with Pakistanis, particularly those from lower and middle-income groups, struggling to make ends meet.

    The sticky inflation numbers, along with the stalled International Monetary Fund (IMF) programme, have pushed the State Bank of Pakistan (SBP) to raise its benchmark interest rate by 300 basis points to a 26-year high. Pakistan is desperately trying to persuade the IMF to disburse critical $1.1 billion funding, but inflation worries have led the central bank to elevate its interest rates by 10 percentage points since January 2022.

    Analysts expect that the recent decisions taken by the government to please the IMF for a meagre $1.1 billion bailout tranche could result in massive poverty, while businesspersons have also not ruled out a default despite fiscal tightening. The YoY SPI increased by 39.09 per cent, 40.98 per cent, 41.79 per cent, 42.53 per cent, and 44.14 per cent respectively for the groups spending up to Rs17,732; Rs17,733-22,888; Rs22,889-29,517; Rs29,518-44,175; and above Rs44,175.

  • ‘I was shocked by the success of Jab We Met’: Kareena Kapoor

    ‘I was shocked by the success of Jab We Met’: Kareena Kapoor

    It has been 16 years since the iconic Bollywood rom-com ‘Jab We Met’ took over our screens and cemented itself as one of the best films to ever come out of India.

    Kareena Kapoor who starred as the naive and bubbly Geet in the film, admitted in an interview with Mirchi that she was completely taken aback by the iconic status the film has been given, since at that time the actor was more focused on her film ‘Tashaan’:

    “I was in this whole zone of getting to size zero, I am working in Tashan, with Akshay (Kumar), Anil (Kapoor) and Saif (Ali Khan).”

    Kapoor also went on to reveal that she had been completely focused on training for her role in ‘Tashaan’, even while she was on the sets of ‘Jab We Met’:

    “I got the main part and it was a Yash Raj film and I was doing action for the first time and whenever I came on the Jab We Met set it would be like ‘Please I need to train because I am going for action training.’ I never thought, the reverse situation actually happened. I had all my bets on Tashan.”

    Shahid Kapoor, who played the introverted Aditya in ‘Jab We Met’ recently shared a clip of himself visiting fans at the cinema when the film had re-released once more.

    Speaking to Pinkvilla, Kapoor admitted that ‘Jab We Met’ was the type of rare film that is made once ever two decades, and was looking forward to doing another romantic film with the director, Imtiaz Ali, again:

    “We re-released Jab We Met recently and a lot of people are now asking me why ain’t I doing a film like this again. I feel, Jab We Met happens once in two decades and it’s not like an everyday film. Most of the films one does in this genre are bad, so one needs to pick up a decent script. In fact, Imtiaz (Ali, director) and I were also chatting to find something in this space again. I want to do something fun and exciting.”

  • Motorcycle dealers reportedly demanding Rs40,000 extra for instant delivery of Honda CG125

    Motorcycle dealers reportedly demanding Rs40,000 extra for instant delivery of Honda CG125

    The market for new and used motorcycles in Akbar Road, Karachi, which is the largest in the country, is experiencing a shortage of Honda CG-125 bikes at the showrooms of the company’s authorised dealers. The dealers are reportedly not accepting fresh bookings from customers due to thin supplies from the assembler.

    Non-Honda dealers are reportedly demanding a price of Rs252,000-255,000 for instant delivery of the CG-125 bike, which is Rs40,000 more than the company’s price of Rs215,000, despite not having the bike available in their showrooms.

    Some unauthorised dealers have already acquired a large number of CG-125 motorcycles from authorized dealers, apparently under an understanding to jointly make a windfall. Some dealers have cited Afghan nationals accompanied by Pakistanis as the reason for the stock shortage. However, 70cc bikes are readily available for instant delivery at showrooms.

    According to Dawn, market sources have stated that local bike assemblers exported 25,000 units of 70cc-125cc bikes over the past 11 months, in which Honda 125cc holds the lion’s share. They also believe that the actual volume of shipments of two-wheelers is more than the official export by the companies after individual purchases of bikes by customers for Afghan markets.

    Afghan businessmen are importing Pakistan-assembled motorcycles in large numbers daily through the Chaman border amid booming demand for two-wheelers in Afghanistan. The market for Honda CG-125 bikes is experiencing price hikes and shortages across the country, including Quetta and other cities of Balochistan.

  • Ranbir Kapoor under fire once more after comment on Alia Bhatt goes viral

    Ranbir Kapoor under fire once more after comment on Alia Bhatt goes viral

    Ranbir Kapoor is once more being criticized by fans for his insensitive comments about his wife, Alia Bhatt.

    The ‘Tu Jhooti Mein Makkar’ actor was previously called a misogynist by the internet when he was seen body shaming Bhatt during a livestream, while Bhatt had been pregnant with their baby, Raha.

    Kapoor is being criticized this time for a remark he made during an interview with ‘GOODTiMES. The ‘Brahmastra’ actor said he doesn’t want their baby Raha to have Alia’s personality, since the ‘Gangubai’ actor is very loud and ‘talks a lot’:

    “I just hope she has my personality rather than hers because I can’t have two women like Alia in the house,” he said. “Alia has a very boisterous personality; she talks quite loud and is vivacious. Two girls at home like that would be quite a daunting task for me. I hope Raha is a bit more quiet and demure like me so then we both can handle Alia.”

    Since this interview went online, Twitter users have slammed Kapoor as insensitive and misogynist for refusing to recognize how such comments about Bhatt are extremely hurtful.

    One user wrote: “I hate guys who do this to their wives. This low key mocking of their demeanor which they then pass on to the kids. Very common in Indian families.”

    Another user wrote “oh god oh god oh god if you don’t like your wives just say that stop making jokes at the expense of their literal personality and get a life”

    Many users were pointing out that Kapoor’s action was one of most common traits through which men put down confident and loud women by mocking and publicly humiliating them.

  • Khan dedicates song to Ali Bilal, calls out elite for being cruel, ruthless and corrupt

    Khan dedicates song to Ali Bilal, calls out elite for being cruel, ruthless and corrupt

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has dedicated a song to party worker Ali Bilal, who was killed during Wednesday’s standoff at Zaman Park.

    Taking to Twitter, Khan wrote, “Dedicating this song to Shaheed Ali Bilal, known affectionately as Zille Shah. He loved his country in a very special way.”

    “His violent death through custodial torture shows the depths to which the corrupt, ruthless & cruel ruling elite has sunk,” wrote Khan.

    The song is an Indian song titled “Teri Mitti,” an ode to the sacrifices a soldier makes for his homeland. Wahab Bugti, known for his song Kana Yari from Coke Studio, has sung the version shared by the PTI chief.

    PTI has claimed that Punjab police killed Ali Bilal in custody in Lahore.

    Taking to Twitter, PTI leader Fawad Chaudhry tweeted, “According to Insaf Lawyers Wing, Ali Bilal Shaheed’s father has been kidnapped yesterday after the funeral and he and his family members are in police custody. And now we will see a video which will say that we forgave Mohsin Naqvi [sitting interim Chief Minister Punjab] and the police, but this country will not forgive them.”

    Bilal’s autopsy report revealed 26 injuries and that grave physical violence was the cause of death.

    Meanwhile, Pakistan Muslim League-Nawaz (PML-N) Senior Vice President Maryam Nawaz has condemned the death of Ali Bilal.

    Maryam extended her condolences to the deceased’s family, saying, “Aik siyaasi kaarkun ki jaan gayi, mujhe is cheez ka behaad afsos hai aur dili afsos hai” (I feel grief that a political worker lost his life).

  • Fawad Khan, Sanam Saeed’s drama ‘Barzakh’ to premiere worldwide on March 18

    Fawad Khan, Sanam Saeed’s drama ‘Barzakh’ to premiere worldwide on March 18

    Maula Jatt fans are in for a feast, because the heartthrob of our dreams is coming back to the big screen once more with a film and a drama!

    Fawad Khan’s film ‘Money Back Guarantee’ is set to release on April 21, while the highly anticipated drama ‘Barzakh’ is set to have a world premiere on March 18 at the Series Mania Festival in France.

    This will be the second time Khan and Saeed will share the screen after their popular drama ‘Zindagi Gulzaar Hai’.

    Production company Zindagi shared the announcement on their social media pages where the caption read:
    “And here we go! Barzakh is to have its World Premiere at International Panorama Series Mania 2023 on 18th March 2023. Let’s spread the word, shall we?”

    Director of this web series Asim Abbasi, who had previously partnered with Zindagi to produce the popular series ‘Churails’, spoke to Variety in Febuary about what ‘Bazarkh’ will be all about:

    “What does it mean to be human? What does it mean to have a soul, and does it survive us? How does one find hope and joy in a perpetual state of limbo? These are the central concerns of ‘Barzakh’.”

    Abbasi also revealed to Variety that the inspiration for the series came from the aftermath of his father’s passing:

    “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,”

  • Who would be Shahid Khaqan Abbasi’s pick for Finance Minister? Not Ishaq Dar

    Former Prime Minister (PM) Shahid Khaqan Abbasi has said that if he had been the premier of the country, his finance minister would have been Miftah Ismail and not Ishaq Dar.

    In an interview with a web channel, Abbasi said that Miftah Ismail had fulfilled the responsibility given to him by Prime Minister Shehbaz Sharif after the coalition government took charge.

    Abbasi was asked if the current Finance Minister, Ishaq Dar, was running the country’s economy satisfactorily. Abbasi responded by saying that history will decide the success of Ishaq Dar.

    “Whatever responsibility the Prime Minister gave to Miftah Ismail, he did it. Ministers work on the authority of the Prime Minister. He decided that Ishaq Dar should be the one to lead the finance ministry, so he brought him in. Now it is the responsibility of the Premier and the Finance Minister to play their part in fixing the country’s economy. Only history will tell how far they will succeed,” said Abbasi.

    It is pertinent to mention that Miftah resigned from the position of finance minister in September last year after Ishaq Dar returned from London and took over.

  • Video of man adding more oil to salan has Twitter in tears

    Video of man adding more oil to salan has Twitter in tears

    Chahe kuch bhi ho, tufan ajaye, bijli kat jaye, mulk mein nokri na mile, leiken Lahoriyon ki khaanay kay saath love story kabhi khatam nahi honi.

    A video of a man in a restaurant adding a bucket of ghee that could last a month for a family, into a cooking pot, is driving Twitter to tears.

    Exactly how much ghee is too much for Lahoris? Seems like the number doesn’t exist.

    Ever since this video went viral, users have been in fits on how seriously Lahoris take their food.

    And I oop

    https://twitter.com/sher_bangla/status/1633679595638497282?s=20

    How to tell someone isn’t Lahori without telling they’re not Lahori? This

    Wheezing

    *cricket noises*

  • State Bank of Pakistan’s foreign exchange reserves rise to $4.3 billion after Chinese loan

    State Bank of Pakistan’s foreign exchange reserves rise to $4.3 billion after Chinese loan

    Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) have exceeded $4 billion after the country received a $500 million loan from the Industrial and Commercial Bank of China (ICBC).

    In a weekly bulletin, the SBP reported a rise in foreign exchange reserves by $487 million, boosting the total to $4,301 million as of 3 March, providing an import cover of around a month. This was part of the ICBC’s $1.3 billion facility, which followed another loan of $700 million from the China Development Bank.

    These loans were essential as Pakistan has not received funds from any other country, except China, while the $350 billion economy struggles to revive its stalled International Monetary Fund (IMF) program.

    There are $7 billion of repayments due in the coming months, including a Chinese loan of $2 billion due in March. According to Geo, experts believe that the Pakistan rupee, which has fallen to a historic low of Rs282.30 against the dollar in the interbank market, can only recover to Rs265 if the situation improves.

    Meanwhile, the government has imposed restrictions on imports due to a shortage of dollars, which has resulted in the partial closure of textile and automobile manufacturers, raising fears of unemployment.

  • After Imran Khan, Maryam Nawaz too recommends ‘The Forty Rules of Love’

    Pakistan Muslim League-Nawaz (PML-N) Senior Vice President Maryam Nawaz has revealed her favourite books, writers, poets and thinkers in a recent interview.

    In an interview with a web channel, Maryam Nawaz said that her favourite reading genre is Fiction and History. She went on to name her favourite writers who’s books she enjoyed reading while she was incarcerated.

    “A few fiction writers are close to reality; I read them a lot, like Paulo Coelho. I really like his Alchemist and Warrior of Light. Elif Shafak is another writer whom I enjoy reading. One of my most favourite books is The Forty Rules of Love. There is a book called, The Seat of the Soul and Twilight in Delhi; I have really enjoyed reading them,” said Maryam.

    She stated that she preferred books with a historical background.

    Moving on to poetry, Maryam said she loves reading the work of Irish poet Seamus Heaney, especially his work on freedom. Recalling her time in jail, Maryam said that was the first time she could read Urdu novels and poetry.

    “One has a lot of time in jail, so I miss how I used to read there. I read the work of Ahmad Faraz, Sahir Ludhianvi, Parveen Shakir and Amjad Islam Amjad. Apart from this, I have enjoyed reading the work of thinkers and even implemented their philosophies in my life. I have really enjoyed the work of Francis Bacon and Friedrich Nietzsche.”