Author: newsdesk

  • Govt increases petrol price by Rs22 to a historic high of Rs272 per litre

    Govt increases petrol price by Rs22 to a historic high of Rs272 per litre

    In an effort to satisfy the International Monetary Fund (IMF) and secure a crucial loan tranche, the federal government has raised the price of petrol to a historic high. This move comes mere hours after the introduction of a tax-laden “mini-budget”.

    Petroleum division confirmed that the price of petrol has increased by Rs22.20 to reach Rs272 per litre, citing the devaluation of the rupee relative to the dollar as the primary reason for the surge.

    The revised petrol prices are effective from 12 am tonight.

    Following an increase of Rs17.20, the cost of high-speed diesel has risen to Rs280 per litre. Similarly, kerosene oil is now priced at Rs202.73 per litre after a hike of Rs12.90, while light diesel oil is available at Rs196.68 per litre after an increase of Rs9.68.

    It is noteworthy that the surge in the prices of petroleum products was a requirement set by the lending organization based in Washington, which could result in a further escalation of the already record-high inflation. This development is compounded by the recent implementation of new fiscal measures via the ‘mini-budget’.

  • Javed Akhtar set to appear at Faiz Festival

    Renowned Indian screenwriter and poet Javed Akhtar is set to attend the Faiz Festival in Lahore where he will be a part of two discussions with actor Adeel Hashmi, as well as a mushaira with other poets.
    The Current spoke to Hashmi about what their discussion will be about and he said:
    “Our first talk will be about his book ‘Jadunama’ which was released a few days ago, and will also be available for purchase at the event. Our second talk [taking place on Sunday, 19th Feb, is called ‘Talking Life’ which will be a discussion about life. In the next Mushaira, he will be reading out his poetry.”
    Along side Javed Akhtar, many prominent faces are expected to attend the event such as singer Shafqat Amanat Ali who will hold a performance on Friday, as well as Director and Screenwriter Sarmad Khoosat who will hold a conversation with Navid Shahzad.
    Faiz Festival is taking place from February 17 to 19 at Alhamra Center.

  • Ministers decide to give up salaries amid economic crisis

    Ministers decide to give up salaries amid economic crisis

    A total of 12 federal ministers and three state ministers have decided to give up their salaries and work on voluntary basis due to the worsening economic crisis in the country.

    The ministers themselves proposed to Prime Minister (PM) Shehbaz Sharif that they will work without pay. The Premier has approved the request and appreciated their concern for the nation.

    This will be the very first time that such a large number of cabinet members will be serving without getting paid.

    It has also been reported that the Members of the National Assembly (MNAs) have decided to donate one-month salary each to the earthquake victims in Turkiye and Syria.

  • ‘Extremely moving’: Social media is in love with the Netflix documentary ‘The Romantics’

    ‘Extremely moving’: Social media is in love with the Netflix documentary ‘The Romantics’

    Netflix released the anticipated documentary ‘The Romantics’ on Tuesday, garnering praise from Bollywood fans around the world, especially those who had grown up loving Yash Chopra’s films.
    The documentary explored the life of the famous film maker, who was responsible for some of the biggest hits like Chandni, Lamhe, DDLJ, Band Baja Barat, Mohabattien and Veer Zaara etc. Prominent actors from three generations like Amitabh Bachchan, Shah Rukh Khan, Katrina Kaif. Madhuri Dixit etc, will talk about their experiences of working with the film giant.
    Pakistanis also grew up loving Chopra’s films, and didn’t hold back on praising the documentary.
    Lawyer Reema Omer had written:
    “Difficult to describe how watching #TheRomantics made me feel. It is a reminder of why Hindi films have had such a profound impact on people over the decades, and why we continue to yearn for such cinema. Fills the heart with so much love and nostalgia So, so beautiful!”

    Journalist Sabahat Zakariya commented that the documentary stirred up many childhood memories .

    The documentary especially focused on the iconic film Dilwalay Dulhania Le Jayienge, which was Chopra’s biggest ever hit with Shah Rukh Khan and Kajol in main leads. Many were moved by Khan’s comment on his relationship with the late director, and his comment that he considered Chopra a father figure.

    Khan also revealed that the reason he acted in more romantic movies is because Chopra himself told him that his stare was intense and not meant for action movies.

    Fans called ‘The Romantics’ a moving tribute to the generation that had grown up loving Yash Chopra’s films, and also said it was the perfect Valentine’s Day gift.

    Watch ‘The Romantics’ on Netflix.

  • Ishaq Dar presents mini-budget in National Assembly to meet IMF conditions

    Ishaq Dar presents mini-budget in National Assembly to meet IMF conditions

    A crucial tax amendment bill to fulfil the conditions of the International Monetary Fund (IMF) to revive a stalled loan programme that the country needs to stave off default was presented in both houses of parliament on Wednesday.

    Finance Minister Ishaq Dar introduced the Finance (Supplementary) Bill 2023 first in the National Assembly and then in the Senate.

    The Pakistani government approved a proposal last night to increase the general sales tax (GST) rate from 17 to 18 per cent and to raise the Federal Excise Duty (FED) on cigarettes. The aim is to generate an additional Rs115 billion out of Rs170 billion, which was agreed upon by Pakistan in accordance with the IMF conditions.

    Through the implementation of the “mini-budget,” led by the Pakistan Democratic Movement (PDM)-led government, the country intends to reduce the budget deficit and enhance its tax collection efforts to meet the conditions set by the IMF, a Washington-based lender.

    The National Assembly will not be referring the bill to the Standing Committee on Finance and Revenue for further review, while the Senate has sent the legislation to the relevant committee. Officials at the Ministry of Finance have stated that they anticipate the bill to be passed by Thursday morning, which will allow for the receipt of funds not only from the IMF but also from other multilateral and bilateral sources.

    Last week, Pakistan and the International Monetary Fund (IMF) were unable to reach an agreement, and the visiting IMF delegation left Islamabad after 10 days of talks. However, negotiations are set to continue. The Pakistani economy, valued at $350 billion, is in dire need of financial assistance as it grapples with a severe economic crisis.

    In an effort to appease the IMF, the government initially intended to implement the fiscal measure via an ordinance. However, President Dr Arif Alvi recommended that the administration obtain the parliament’s approval instead.

    During his address to the lower house, Finance Minister Dar highlighted the unprecedented crises the nation is currently facing due to the “substandard” policies of the Pakistan Tehreek-e-Insaf (PTI) government. In contrast, the country had experienced economic growth during the previous government led by the Pakistan Muslim League-Nawaz (PML-N), during which the Gross Domestic Product (GDP) had increased by $112 billion.

    “The PML-N always tries to take fewer loans. Foreign investment had also increased during PML-N’s tenure. In contrast, during the PTI’s government, the loans hit record highs, and a common man’s income also plunged.”

    According to Geo, the finance minister stated that in addition to the challenges that the current government is confronting as a result of the Pakistan Tehreek-e-Insaf’s (PTI) policies, the country suffered losses exceeding $8 billion due to last year’s floods.

    “But, we should always prefer the state over politics,” he reiterated — the mantra that PDM leaders have time and again propagate as they face an uphill task on the economic front.

    This is a developing story…

  • Sar-e-Rah empowers the way independent women inspire each other

    Sar-e-Rah empowers the way independent women inspire each other

    If the first episode of Sar-e-Rah was about the impact one woman makes when she stands up for herself, the next episode shows us how she can keep on inspiring women from different backgrounds to take a stand for themselves.

    In this episode, our protagonist Rabia meets Dr Muzna, a woman who has longed for a child has kept her husband’s infertility a secret from the rest of their family. Muzna faces the burden of this secret because of the taunts her mother-in-law gives her for not being able to give the family a child, and because she decides to go back to her job and refuses to abandon her practice.

    In this episode, Sar-e-Rah explores how empowered women who broke away from the shackles of patriarchy are able to recognize the burden society puts on women who chose alternative paths towards motherhood. In one scene, when a grandmother and her child scold Muzna in a cafe for bringing her newborn child along with her, Rabia takes a stand by telling them that Muzna did a noble thing by choosing to give shelter to a child that had been abandoned.

    In the rest of the episode, we watch the two women find solace in one another as Muzna faces opposition from her husband and mother-in-law for choosing to adopt a baby with taunts telling her that bringing home another woman’s child won’t make her a mother, but Razia keeps reminding her that what she is doing is quite noble. Their wholesome bond remains steady as Rabia helps Muzna in facing her husband and the rest of the family, and also to search for the mother’s child.

    https://twitter.com/lattedeprresso/status/1625468993975853062?s=20&t=winx6AlTJw6UDtjZu27pYA

    At a time when triggering topics like domestic violence, child abuse and forced marriages are not treated with the sensitivity and depth they deserve, it is heartening that a show like Sar-e-Rah isn’t shying away from exploring such tabooed topics and reminding women that they can find the strength they needed in each other.

  • Nida Yasir can’t remember what year the ’92 world cup took place in this viral interview

    Nida Yasir can’t remember what year the ’92 world cup took place in this viral interview

    Nida Yasir surely knows how to make an interview memorable. She went viral last year for not knowing how Formulae 1 cars work but this time, her gaffe is even more hilarious.

    In an interview on ‘The Shoaib Akhtar Show’ on Urduflix, host Shoaib Akhtar conducted a round where he asked quick questions from guests Nida Yasir and Shahista Lodhi. When it was Yasir’s turn, she was asked: “What year did Pakistan win the ’92 world cup?” And Yasir’s reaction went viral

    Soon a string of memes launched after Twitter got hold of this clip.

    https://twitter.com/humatabassum/status/1625782121926098946?s=20&t=UJM6goprUS9TFzEndmeqxQ

  • Islamabad ATC rejects Imran’s bail in ECP protest case

    Islamabad ATC rejects Imran’s bail in ECP protest case

    An Anti-Terrorism Court (ATC) in Islamabad has rejected Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s request for an extension in his interim bail. The plea was made in a case pertaining to a protest outside the Election Commission of Pakistan (ECP) following its decision in the Toshakhana case.

    During today’s hearing, Imran’s lawyer Babar Awan told the court that Imran tried to travel to Islamabad but could not.

    Awan highlighted that the additional sessions judge had granted interim bail to the PTI chief till February 27.

    Awan requested the court to extend the bail, adding that Khan had tried to come but could not travel.

    Islamabad ATC orders Imran Khan to appear in person today

    An Islamabad Anti-Terrorism Court (ATC) on Wednesday ordered Khan to appear in person before the judge by 1:30pm today.

    During the hearing today, ATC judge Raja Jawad Abbas Hassan rejected his request for exemption from appearance on medical grounds.

    “Imran Khan should appear in court by 1:30pm,” he ordered.

    Earlier, an Islamabad banking court also refused Imran’s exemption request in the prohibited funding case against his party and instructed him to appear before the judge in person today.

    “Imran Khan should appear in the court before 3:30pm today,” Special Judge Banking Court Rakhshanda Shaheen said.

    “If he fails to do so, the law will take its course,” she added.

    At the previous hearing, the court had granted the PTI chief a last opportunity to appear on February 15.

    Khan has been in Zaman Park, his Lahore residence, since he was shot on November 3, in Wazirabad, while leading a protest march towards Islamabad.

  • Govt to present Finance Bill 2023 today to fulfil IMF conditions

    Govt to present Finance Bill 2023 today to fulfil IMF conditions

    The federal government has been forced to head to parliament after President Arif Alvi ‘adv­ised’ Finance Minister Ishaq Dar on Tuesday to take parliament into confidence over the Rs 170 billion in new taxes that are being levied.

    As per the agenda, the National Assembly will meet at 3:30pm and Finance Minister Senator Ishaq Dar will present the Finance Supplementary Bill, 2023 in the lower house.

    A session of the Senate has also been summoned at 4:30pm to move the bill there as well so the document can be sent to President Dr Arif Alvi immediately for assent.

    Prime Minister Shehbaz Sharif, who didn’t attend the last session, will be present during today’s meeting.

    The governm­ent had initially planned to introduce “tax and non-tax mea­­sures” to generate funds to the tune of Rs 170 billion. However, in a last-minute change, it decided to drop proposals pertaining to non-tax measures, particularly the flood levy to the tune of Rs 100 billion.

    In a late-night development, the Federal Board of Revenue (FBR) issued SRO178 to enhance a federal excise duty on locally manufactured cigarettes which would generate up to Rs 60 billion in taxes on tobacco products.

    The government will generate Rs 55 billion more through a 1 per cent increase in GST – from 17pc to 18pc. The remaining Rs 55 billion will be collected through an increase in excise duty on airlines tickets, sugary drinks and an increase in withholding tax rates.

    Dar had called on President Alvi to apprise him about the talks with the IMF for the revival of the programme.

    The government decided to approach the Parliament after President Dr Arif Alvi gave the government a cold shoulder on bringing the mini-budget via an ordinance in his meeting with Dar.

    “The president advised that it would be more appropriate to take parliament into confidence on this important subject, and that a session be called immediately so that the bill is enacted without delay,” a statement issued by the President House said after the meeting.

  • ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    Indus Motor Company (IMC), the manufacturer of Toyota vehicles in Pakistan, has increased prices for its CKD vehicles lineup by upto Rs890,000.

    The price hike has been attributed to “economic uncertainties and volatility of Pakistani rupee”, according to a notice sent to dealer principals, CEOs, and sales heads by the company.

    Below are the new prices:

    Variant Old Price (Rs) New Price (Rs) Increase (Rs)
    Yaris GLI MT 1.3 4,079,000 4,279,000 200,000
    Yaris GLI CVT 1.3 4,339,000 4,549,000 210,000
    Yaris ATIV MT 1.3 4,309,000 4,519,000 210,000
    Yaris ATIV CVT 1.3 4,529,000 4,749,000 220,000
    Yaris ATIV X MT 1.5 4,649,000 4,869,000 220,000
    Yaris ATIV X CVT 1.5 4,929,000 5,169,000 220,000
    Corolla Altis X MT 1.6 5,269,000 5,529,000 260,000
    Corolla Altis 1.6 X CVT-i 5,749,000 6,059,000 310,000
    Corolla Altis 1.6 X CVT-i SE 6,319,000 6,659,000 340,000
    Corolla Altis Grande X CVT-11.8 Beige 6,609,000 6,939,000 330,000
    Corolla Altis Grande X CVT-i1.8 Black 6,649,000 6,979,000 330,000
    Revo V AT 2.8 12,239,000 12,859,000 620,000
    Revo V AT Rocco 12,899,000 13,559,000 659,100
    Fortuner 2.7 G Petrol 13,419,000 14,109,000 690,000
    Fortuner 2.7 V Petrol 15,359,000 16,159,000 800,000
    Fortuner 2.8 Sigma 4 Diesel 16,189,000 17,029,000 840,000
    Fortuner Legender Diesel 17,069,000 17,959,000 890,000

    The notice explained that the current volatile situation of Pakistani rupee against the US dollar has adversely affected the manufacturing cost of IMC, making it extremely difficult for the company to hold the current indicative retail selling prices.

    Hence, the company has decided to pass on some impact to the market. The notification stated that the prices are subject to change and prices prevailing at the time of delivery shall continue to be applicable on all orders.

    Any change in government levies and taxes (including federal excise duty, sales tax, and CVT, etc), tariffs, fiscal policies, import policies, etc., will be borne by the customers. This is the third time since January 2023 that the company has raised the prices of its CKD vehicles lineup.

    The first price hike was introduced on January 12, followed by another price increase later last month. The auto industry has been significantly impacted in recent months, with companies shutting down production plants due to the unavailability of imported raw materials and restrictions imposed by the government to curb imports.