Author: newsdesk

  • Pakistan’s central govt debt hits record Rs67.82 trillion in May 2024

    Pakistan’s central govt debt hits record Rs67.82 trillion in May 2024

    In May 2024, the central government’s total debt reached a record high of Rs67.82 trillion, marking a 15.01 per cent increase compared to Rs58.96 trillion a year earlier, according to data released by the State Bank of Pakistan (SBP).

    Sequentially, the central government debt also rose by 2.62 per cent from April 2024, when it stood at Rs66.08 trillion.

    This significant year-on-year rise in debt is mainly attributed to increased borrowing from both domestic and foreign sources, aimed at managing the fiscal deficit.

    According to details provided by the SBP, the majority of the debt was domestic, amounting to Rs46.21 trillion. This includes Rs36.6 trillion in long-term debt, Rs9.52 trillion in short-term debt, and an additional Rs86.79 billion raised through Naya Pakistan Certificates.

    Comparing year-on-year figures, the domestic debt showed a substantial increase of 24.7 per cent, with sequential growth of 3.88 per cent.

    By the end of May 2024, the government’s long-term debt had risen by 24.14 per cent year-on-year to Rs36.6 trillion, up from Rs29.48 trillion recorded a year earlier, with a month-on-month increase of 3.91 per cent.

    Similarly, short-term debt saw a notable increase of 28.09 per cent year-on-year, reaching Rs9.52 trillion in the review period.

  • Weekly inflation rises 1.28% as essential food items, fuel costs surge

    Weekly inflation rises 1.28% as essential food items, fuel costs surge

    In a challenging economic climate, food prices in Pakistan have surged, forcing consumers to purchase essential items at elevated costs.

    According to the Weekly Sensitive Price Indicator (SPI) released by the Pakistan Bureau of Statistics (PBS), the SPI for the Combined Group increased by 1.28 per cent week-on-week (WoW) for the week ending July 4, 2024.

     Additionally, the SPI saw a substantial year-on-year (YoY) rise of 23.59 per cent compared to the same period last year.

    The PBS data revealed that the Combined Index stood at 318.61, up from 314.57 a week earlier, and significantly higher than the 257.79 recorded a year ago. Out of 51 monitored items, prices of 29 (56.86 per cent) increased, 5 (9.80 per cent) decreased, and 17 (33.34 per cent) remained stable during the week.

    Significant weekly price increases were observed in tomatoes (70.77 per cent), wheat flour (10.57 per cent), powdered milk (8.90 per cent), diesel (3.58 per cent), and petrol (2.88 per cent). Conversely, notable price hikes on a yearly basis were recorded for onions (9.05 per cent), wheat (1.79 per cent), potatoes (1.04 per cent), eggs (0.79 per cent), and bananas (0.60 per cent).

    The SPI percentage change by income groups showed that the SPI rose across all income quantiles, ranging from 1.23 per cent to 1.44 per cent weekly. The lowest income group experienced a weekly rise of 1.43 per cent, while the highest income group saw a 1.23 per cent increase.

    Yearly SPI analysis across different income segments indicated increases ranging between 16.97 per cent and 26.49 per cent. The SPI for the lowest income group rose by 16.97 per cent, while the highest income group recorded a 21.39 per cent increase.

    Additionally, the average price of Sona urea was reported at Rs4,746 per 50 kg bag, which is 0.13 per cent higher than the previous week and 51.52 per cent higher compared to last year.

    Meanwhile, the average cement price reached Rs1,409 per 50 kg bag, marking a significant 10.48 per cent increase from the previous week and a 23.16 per cent rise from last year’s prices.

    The persistent rise in food and essential item prices continues to burden Pakistani consumers, exacerbating the financial strain on households across the country.

  • Shazia Manzoor shares unique tip to reduce electricity bills

    Shazia Manzoor shares unique tip to reduce electricity bills

    In a move that’s leaving Pakistani citizens frustrated due to rising electricity rates, renowned singer Shazia Manzoor has revealed that her electricity bill has come out reasonable.
    Not only the general public but also prominent figures from the showbiz industry are protesting against the exorbitant electricity bills.

    Recently, veteran Rashid Mehmood received an electricity bill of Rs 45,000.
    A funny video of Shazia Manzoor is going viral on social media, in which she is responding to a question regarding her electricity bill.
    Shazia said, “I didn’t get a high bill. If you want, you can play my song for inspiration, light a lamp, turn off the lights, and there will be no other way.”

    Shazia Manzoor also sang her song ‘Batiyan Bujhai Rakhdi’.
    The new basic rate is set at Rs 48.84 per unit, which will rise to Rs 57.63 per unit after adding sales tax. With other adjustments and taxes, the highest electricity rate will exceed Rs 65 per unit. For consumers, this means a considerable jump in their monthly bills, with those using 401 to 500 units facing the highest cost at Rs 41.36 per unit.

  • Imran Khan threatens to go on hunger strike in jail

    Imran Khan threatens to go on hunger strike in jail

    Incarcerated former Prime Minister Imran Khan has said that he will consider to go on a hunger strike over mistreatment dished out to him in Adiala jail, Geo News reported on Friday.

    Sources within the Pakistan Tehreek-e-Insaf (PTI) told Geo News that Imran will decide the strike date after consulting with other party leaders.

    Imran Khan called his party leaders a day ago, but jail authorities did not allow them to meet him. Party leaders waited almost three hours outside the jail, while Imran Khan waited inside to start the huddle.

    After that, the former Prime Minister directed party leaders to stop discussing internal conflicts in public.

    On Thursday, PTI leaders told journalists that prison authorities didn’t allow them to meet Khan despite waiting for hours.

  • Shehryar Afridi says ‘Fauj meri ghairat, izzat aur mera imaan hai’

    Shehryar Afridi says ‘Fauj meri ghairat, izzat aur mera imaan hai’

    Pakistan Tehreek-e-Insaf (PTI) leader Shehryar Afridi has said in a political talk show on ARY News last night, “Army is my honour, respect, and my faith.”

    Journalist Waseem Badami reminded the PTI leader about his past statements from 2019 when Afridi said that the “Chief of Army Staff (COAS) is akin to my father.”

    Badami asked Afridi whether his views had evolved, to which the former Minister of State replied that, “The head of the state – General is like a father. There is no doubt about it, though no person is above the law.”

    He also remarked, “My leader Imran Khan says that the army is worth more than his life. And those unfit people who want to pitch PTI in front of the Army will fail.”

  • How much was Justin Bieber paid to perform in Ambani wedding?

    How much was Justin Bieber paid to perform in Ambani wedding?

    Canadian pop star Justin Bieber has arrived in India to perform at the wedding of Anant Ambani and Radhika Merchant.

    Bieber landed in Mumbai on Thursday morning and will perform at the couple’s Sangeet ceremony on Friday, alongside Indian rappers Badshah and Karan Aujla, according to Indian media.

    A video shared online shows Bieber’s car in Mumbai.

    The Ambani family, known for paying big money to performers at their events, reportedly offered Bieber $10 million for his performance. Other famous artists like Adele, Drake, and Lana Del Rey might also perform at the wedding next week.

    The three-day wedding event for Anant and Radhika will take place from July 12 to 14. It will start with ‘Shubh Vivaah,’ followed by ‘Shubh Aashirwad’ and ‘Mangal Utsav.’ The celebrations began with a mameru ceremony, a Gujarati tradition where the bride’s maternal uncle brings her sweets and gifts. Next is a dandiya and garba night hosted by Kokilaben Dhirubai Ambani on July 4.

    In March and June, India’s richest man Mukesh Ambani and his family hosted two pre-wedding events for their youngest son and his fiancée before the grand wedding.

  • Khan says PTI to participate in APC to hear what govt says about Azm-e-Istehkam

    Khan says PTI to participate in APC to hear what govt says about Azm-e-Istehkam

    Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan stated on Friday that PTI will participate in the All-Parties Conference (APC), during which the government will take all the political parties into confidence over the newly launched military operation Azm-e-Istehkam.

    Speaking to reporters in Adiala jail during a hearing, Khan said, “My party will participate in the All-Parties Conference and hear what the government has to say.”

    Imran Khan also voiced concerns over the operation, saying it would “only lead to further instability” in the country.

    The federal cabinet approved a new anti-militant operation last week following the Apex Committee’s recommendations to take down terrorists across the country.

    However, opposition parties including the PTI, Jamiat-e-Ulema Islam Fazl (JUI-F), Awami National Party (ANP), and others have voiced concerns over the military operation, demanding that parliament must be taken into confidence before taking any such decision.

  • BTS Jin to shine as torchbearer at Paris 2024 Olympics

    BTS Jin to shine as torchbearer at Paris 2024 Olympics

    BTS’ Jin, the oldest member of the K-pop supergroup, is set to shine as a torchbearer at the Paris 2024 Olympics after recently completing his mandatory military service. The singer will represent South Korea in the torch relay, aiming to spread messages of ‘harmony’ and ‘peace.’

    Jin’s return on June 12th was celebrated with a heartwarming reunion with his bandmates, as seen in a photo posted on X (formerly Twitter) captioned “Jin is back.”

    On the same day, Jin went live on Weverse, thanking fans (known as ARMY) for their constant support. He also hinted at new projects in the works, including music recordings and variety shows.
    Jin completed an 18-month mandatory military service, he is the first of BTS’s seven members to return to public engagements. The 2024 Paris Olympics scheduled from July 26 to August 11.

  • Students tayyar raho, Matric result just few days away

    Students tayyar raho, Matric result just few days away

    The matric results of all nine educational boards in Punjab will be announced on Tuesday, July 9, at 10 a.m.

    All the Boards in Punjab will establish results through two channels:

    Students with internet access are advised to check their results online on the respective Board’s website. Those without internet access can check their results through their mobile phones by sending their roll numbers via message to a specific “board code.”

    The code of all the boards are given as follows:

    Faisalabad’s code is 800240.
    The code for Dera Ghazi Khan is 800295
    Gujranwala: 800299.
    Rawalpindi’s code number is 800296.
    Lahore: 800291
    Bahawalpur: 800298.
    Sargodha’s code number is 800290.
    Sahiwal is at 800292.
    The code number for Multan is 800293

    There are nine Boards of Intermediate and Secondary Education, each covering a different district