Author: newsdesk

  • Germany to strengthen trade and investment ties with Pakistan

    Germany to strengthen trade and investment ties with Pakistan

    In a recent meeting with Federal Minister of Commerce and Investment Syed Naveed Qamar, German Minister of State for Foreign Affairs Dr Tobias Lindner expressed his hope that Germany and Pakistan would further strengthen and expand bilateral relations, particularly in trade and investment.

    Both countries discussed multiple aspects of bilateral ties, along a great emphasis on improving trade and financial collaboration to sustain economic growth in a post-Covid pandemic world. The duo agreed to exchange business envoys to look into the prospect of B2B cooperation in renewable power, farming, food security, autos, and technical assistance.

    The Commerce Minister praised Germany for its constant support for Pakistan’s GSP Plus scheme. He emphasized the importance of GSP Plus in widening bilateral trade and offering Pakistan a level playing field in the European segment.

    He also clarified that the scheme has served as a precursor for essential progressive social changes, particularly those relating to women’s empowerment. The German Minister convinced his nation’s continued and forthcoming assistance for the GSP Plus Scheme.

  • Khan angry with PTI leaders over failure to mobilise supporters

    Khan angry with PTI leaders over failure to mobilise supporters

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan is unhappy with his party’s top leaders for failing to mobilise supporters to participate in his long march to Islamabad, revealed Geo News anchorperson Shahzeb Khanzada in his programme ‘Aaj Shahzeb Khanzada Kay Sath’.

    According to him, Khan thought that more people would turn up but people did not show up in Rawalpindi. Even his party leaders appeared to have gone missing in action.

    On the contrary, sources say, PTI leaders argued that they were not given enough time to prepare by their leader. They even asked him to extend the date but Khan wanted to maintain an element of surprise for the government.

    According to PTI leaders, except for Khyber Pakhtunkhwa’s (KP) supporters, PTI does not have many supporters elsewhere who would brave the police or tear gas or the heat in an effort to try and reach Islamabad, the anchor revealed.

    Moreover, the leaders thought that the long march would not be a good idea, and the announcement of a dharna (sit-up) would end up more of a problem for PTI. According to Khanzada, they are even unhappy with Khan’s six-day ultimatum to the government.

    According to PTI sources, Imran Khan seems to be only listening to some people who are close to him, instead of politicians better adept at traditional constituency politics.

  • Islamabad Traffic Police intensifies crackdown against wrong parking

    The Islamabad Traffic Police (ITP) recently fined numerous motorists for wrong parking in order to maintain a smooth flow of traffic in the federal capital.

    The SSP Traffic Syed Mustafa Tanveer instructed all Zonal DSPs to guarantee traffic law enforcement through a courteous attitude toward citizens. He advised that motorists should be treated equally and informed officials about traffic laws.

    Furthermore, the SSP Traffic asserted that only pedestrians had the right to use the footpath and that no parking would be permitted there. He was of the view that vehicles should be parked in designated areas of shopping malls while an awareness campaign to educate citizens visiting the malls was underway.

    The number of vehicles in the federal capital has increased drastically in recent years, impeding transportation.

    Tanveer stated that it is our prime concern to guarantee the comfort of road users by preserving traffic discipline, and that every effort will be made to that end.

  • Justice (R) Maqbool Baqar being considered for NAB chairman slot: report

    Justice (R) Maqbool Baqar being considered for NAB chairman slot: report

    Justice (retired) Maqbool Baqar is on top of the candidates’ list that the government is considering for the position of the next National Accountability Bureau (NAB) chairman, reports Geo News.

    According to the news report, Baqar’s name came up during the meeting between Prime Minister (PM) Shehbaz Sharif and Pakistan People’s Party (PPP) co-Chairman Asif Ali Zardari.

    Justice Baqar had been promoted from the Sindh High Court to the Supreme Court and retired as a judge of the SC on Monday, April 4, 2022.

    Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry commenting on Baqar said, “Justice (r) Maqbool Baqir is a reasonable man, hopefully, he will not be a part of this process.”

  • Inclusion of Rs28 billion relief package in upcoming budget: PM Shehbaz

    Inclusion of Rs28 billion relief package in upcoming budget: PM Shehbaz

    Prime Minister (PM) Shehbaz Sharif said that the government would include a Rs28 billion package in the upcoming budget to provide relief to the masses. He was addressing the nation yesterday (May 27).

    PM Shehbaz said that aside from the relief package, the government would immediately provide Rs2,000 for around 85 million people to help them fight the effects of inflation.

    “This is aside from the Benazir Income Support Programme (BISP) monetary assistance they are already getting. This relief package will be included in the next fiscal budget,” the premier said.

    The premier added that he has directed the Utility Stores Corporation (USC) to provide 10kg of wheat to people for Rs400.

    ‘It was you who signed tough deals with IMF, not us’

    Criticising ex-PM Imran Khan and Pakistan Tehreek-e-Insaf (PTI) government, PM Shehbaz said it was Khan who struck a deal with the IMF, not the current government.

    “We did not agree to the strict conditions laid forth by the IMF; you burdened the masses with heavy inflation, not us; you buried the country under heavy debts, not us; international institutions said that corruption increased during your tenure, not ours; electricity load shedding was brought back during your tenure and you are responsible for the economy’s suffering.”

    If Imran Khan thinks his “ego” is bigger than the state, then it is his misconception

    PM Shehbaz said if Imran Khan thinks his “ego” is bigger than the state, then it is his misconception as Pakistan will function in line with the Constitution and not upon following the direction of one person.

    Without naming Imran Khan or the PTI directly, he said one man had fabricated an international conspiracy on the basis of foreign correspondence, even though the National Security Committee (NSC) and Pakistan’s ambassador to the US had repeatedly refuted such claims.

    “For his personal political gain, he is harming Pakistan’s diplomatic relations. Pakistan will be governed by the constitution, not one man’s whims,” the PM asserted.

    “Due to the faulty policies of the previous government, our friendly countries are upset. We will restore fraternal relations with them,” he said, adding Pakistan wanted peace in South Asia and urged India to withdraw its Aug 5, 2019 decision on Kashmir and then sit with Pakistan for dialogue to resolve all issues.

    Khan has repeatedly blamed the US for backing the no-confidence motion that leads to his ousting and has refused to accept the newly-elected government.

    Shehbaz added that Khan claimed that the US Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu had threatened Pakistan’s ambassador for removing his government.

    “This person, when Pakistan was progressing under prime minister Nawaz Sharif, staged dharnas. At that time, Chinese President Xi Jinping had to come to Pakistan, but due to [Khan’s] arrogance, the agreement that was scheduled to take place was delayed.”

    The prime minister said that taking up the challenge of coming into power was not easy as the country’s situation was gloomy, and the nation was plagued with hatred during the previous government’s tenure.

    ‘PTI govt announced petroleum subsidy for political gains’

    Explaining the reason for the increase in petroleum prices, Shehbaz said,” From oil-producing countries to developed countries, everyone was gripped with economic turmoil. But for political gains, the previous government announced a petrol subsidy for which there was no room in the national exchequer,” the premier said.

    Govt to provide targeted subsidies to 14 million families, says Miftah Ismail

    Finance Minister Miftah Ismail said that the government would provide targeted subsidies to 14 million deserving families as announced by PM Shehbaz Sharif in his address to the nation.

    Addressing a press conference in Islamabad, Miftah shared the criteria for availing of the ‘Sasta Petrol, Sasta Diesel’ relief package.

    “Women, whose household income was less than Rs40,000 per month, could text their Computerised National Identity Card (CNIC) numbers on 786 or call that number to receive Rs2,000”, said Miftah.

    “We cannot provide complete relief as we do not have the resources but we will do all we can to dress the wounds [of poor people].”

    Miftah further added: “7.3 million beneficiaries of Benazir Income Support Programme (BISP) are already getting Rs2000, and the government is planning to add 7 million more people to the database who would receive Rs2,000 in terms of fuel subsidy.”

    Pakistan People’s Party’s (PPP) Senator Mustafa Nawaz Khokhar tweeted, “The decision to go to IMF should be taken by a government with a fresh mandate.”

    Agreeing with Khokhar, Miftah said, “He is right, the new government will strike a new deal with the IMF after taking a fresh mandate next year, but this is a coalition government and our priority is to steer the country out of economic crisis and maintain an economic stability.”

    “Therefore, we are continuing with the previous IMF programme, which was finalised by the PTI government,” he said.

  • After Saudi Arabia, PM Shehbaz set to visit Turkey

    After Saudi Arabia, PM Shehbaz set to visit Turkey

    The Ministry of Foreign Affairs confirmed that Prime Minister (PM) Shehbaz Sharif will visit Turkey next week as his first visit to Ankara after assuming office in April.

    The Foreign Office (FO) Spokesperson Asim Iftikhar, in a briefing, said: “The prime minister would be visiting Turkey next week, and we would be sharing with you more details containing elements, specific elements, and engagements envisaged during this visit.”

    Prior to this, PM Shehbaz held two foreign trips to Saudi Arabia and the United Arab Emirates (UAE).

    Following his visit, it was announced that Saudi Arabia is finalising the extension of the $3 billion deposit to Pakistan.

    On the other foreign engagements, Foreign Minister Bilawal Bhutto-Zardari visited Davos, Switzerland, to attend World Economic Forum’s Annual Meeting (May 23-26), with Minister of State for Foreign Affairs Hina Rabbani Khar and Federal Minister for Climate Change Sherry Rehman accompanying him.

  • ‘Rana Sanaullah you coward bastard’: PTI’s Gandapur lashes out at interior minister

    ‘Rana Sanaullah you coward bastard’: PTI’s Gandapur lashes out at interior minister

    Pakistan Tehreek-e-Insaf (PTI) leader Ali Amin Gandapur took to Twitter to lash out at Interior Minister Rana Sanaullah and said, “Rana sanaullah u coward bastard u brutally attacked innocent Pakistanis and till now charged five firs against me in different police stations.”

    Gandapur further tweeted, “I dare and challenge u to charge fir against me in every police station but be ready for the revenge as I will take u to hell INSHALLAH.”

    Gandapur’s tweet came after the Islamabad Police on Thursday registered a case against senior PTI leaders, including Imran Khan, for the riots that took place in Islamabad during the “Azadi March”.

    Apart from Khan, police also registered cases against PTI leaders Asad Umar, Imran Ismail, Raja Khurram Nawaz, Ali Amin Gandapur, and Ali Nawaz Awan.

  • Weekly inflation based on SPI, records a slight decline

    Weekly inflation based on SPI, records a slight decline

    Pakistan Bureau of Statistics (PBS) revealed that the weekly Sensitive Price Indicator (SPI) for the joint consumption group fell 0.26 per cent for the week ending May 26, owing primarily to a drop in the prices of vital food products.

    The consolidated index was 174.62 on May 19, 2022, compared to 175.08 on May 19, 2021, while the SPI increased 16.97 per cent year on year when the index was 149.29 on May 27, 2021.

    The minor price reductions in essential items may be a sign that the government is finally gaining control of the country’s skyrocketing inflation, which has afflicted the poor strata.

    Here are the items that witnessed a decrease or increase in their prices:

    Decrement

    Wheat Flour (12.25 per cent), Chillies Powdered (6.48 per cent), Chicken (4.41 per cent), Garlic (2.99 per cent), and non-food item LPG (0.43 per cent) were among the commodities that saw a decline in their rates on a WoW premise out of the 51 supervised items, with a cumulative effect of (-1.00 per cent) into the total SPI for the blended group of goods (-0.26 per cent).

    Increment

    27 items elevated in the week, including potatoes (8.43 per cent), tomatoes (6.33 per cent), eggs (6.29 per cent), rice basmati broken (4.71 per cent), mustard oil (4.16 per cent), pulse masaoor (3.93 per cent), milk fresh (3.47 per cent), onions (3.03 per cent), pulse gramme (2.58 per cent), curd (2.35 per cent), washing soap (2.13 per cent), cooked beef (1.55 per cent), beef (1.42 per cent), pulse mash (1.33 per cent), cooked daal (1.24 per cent). While 19 commodities’ prices remained stable.

  • A first for subcontinent: Pakistani film ‘Joyland’ wins Jury prize at Cannes Film Festival

    A first for subcontinent: Pakistani film ‘Joyland’ wins Jury prize at Cannes Film Festival

    Independent filmmaker, Saim Sadiq’s feature film, Joyland has become the first film from the subcontinent to win a jury prize at Cannes.

    Pakistani film “Joyland”, written and directed by debutant Saim Sadiq, won the Jury Prize in the Un Certain Regard section of the 75th Cannes Film Festival on Friday, becoming the first-ever film from the subcontinent to bag the award.

    Joyland, a drama about a Lahore family in the firm grip of deep-rooted patriarchy, was pipped to the section’s top award.

    The award for “Joyland” represents a global breakthrough of immeasurable proportions for the relatively small Pakistani movie industry.

    Incidentally, Joyland also won the Prix Queer Palm, awarded by Jury chaired by filmmaker Catherine Corsini on Friday. One of the central characters in the film is a transwoman played by a real-life transwoman Alina Khan

    Earlier it also became the first ever Pakistani feature film to get a nomination at the Cannes film festival. It will be screened at the 75th Anniversary of the annual Cannes film festival. This film has made history by getting selected among the 14 films in the feature film category.

    Sana Jafri who starred in the film took to her Instagram to share the proud moment for Pakistan with a screenshot from Cannes official website. The film, Joyland was written in the category of Uncertain Regard.

    Many celebrities congratulated the entire team of the film.

    Mahira Khan wrote, “This is amaaaazin’G! Congratulations to the entire team. And to Pakistan.”

    Actor, Osman Khalid Butt also congratulated on Twitter, “This is FANTASTIC. What a huge moment for Pakistani cinema. Congratulations, Saim and the entire team of Joyland!”

    Actor and model, Adnan Malik also shared the news on his Instagram story and congratulated to the whole team of the film, “This is some incredible news to wake up to.”

    Oscar-Award winner, Sharmeen Obaid Chinoy also took to her Instagram story to share her pride in achieving a milestone by Saim Sadiq.

    Ms Marvel actor, Nimra Bucha also celebrated the proud moment for Pakistan and Saim on her Instagram story

    Nadia Afgan wrote, “So proud of you, Saim Sadiq! Mommy loves you” as she posted Cannes’ official tweet on her Instagram story.

  • Musk sued for stock manipulation during Twitter takeover bid

    Musk sued for stock manipulation during Twitter takeover bid

    The most controversial billionaire Elon Musk has been sued by Twitter Inc shareholders, who claim he manipulated the company’s stock price downward, as the CEO of electric carmaker Tesla Inc mounts a $44 billion buyout offer for the social media platform.

    According to the investors, Musk saved $156 million by failing to disclose that he had acquired more than 5 per cent of Twitter by March 14. They requested class certification and an unknown amount of punitive and compensatory damages.

    They also named Twitter as a defendant, claiming the company owed them an investigation into Musk’s behaviour, though they are not seeking monetary damages from the company.

    As per the lawsuit, filed on Wednesday in San Francisco federal court, the investors claimed Musk continued to buy stock after that and eventually disclosed in early April that he owned 9.2 per cent of the company.

    “By delaying his disclosure of his Twitter stake, Musk engaged in market manipulation and purchased Twitter stock at an artificially low price,” the investors, led by Virginia resident William Heresniak, claimed. Requests for comment were not immediately returned by Musk or his lawyer.

    The recent drop in Tesla’s stock has put Musk’s ability to finance his acquisition of Twitter in “major jeopardy,” according to the investors, because he has pledged his shares as collateral to secure the loans he needs to buy the company.

    Tesla’s stock was trading around $713 per share on Thursday afternoon, down from over $1,000 in early April. According to the Wall Street Journal, the timing of Musk’s disclosure of his stake has already triggered an investigation by the US Securities and Exchange Commission (SEC).

    The SEC demands any investor who purchases more than 5% of a company’s stock to disclose their assets within 10 days of crossing the limit.

    The investors also claimed that Musk’s public criticism of the company, such as a May 13 tweet stating that the buyout was “temporarily on hold” until Twitter proved that spam bots accounted for less than 5% of its users, amounted to an attempt to drive the share price even lower.

    Musk pledged an additional $6.25 billion in equity financing to fund his bid for Twitter on Wednesday, indicating that he is still working to close the deal.

    Earlier this month, the tech mogul was sued in Delaware Chancery Court by a Florida pension fund, which sought to halt the transaction on the grounds that some other large Twitter shareholders were supporting the buyout, which is a violation of Delaware law. The lawsuit filed by Heresniak does not seek to halt the takeover.