Author: newsdesk

  • Over 100,000 students register for interest-free motorcycle initiative

    Over 100,000 students register for interest-free motorcycle initiative

    The Punjab government has announced a significant initiative to offer interest-free motorcycles to students, with over 100,000 registrations received through the Punjab Information Technology Board (PITB) e-bike portal.

    This scheme aims to provide 20,000 motorcycles to students in Punjab, allowing them easier and more affordable transportation options.

    According to the PITB on Tuesday, the e-Bikes Portal has facilitated students across Punjab to register for the initiative, with more than 16,000 online applications already submitted.

    Out of these, over 13,500 students have applied for petrol bikes, while more than 3,800 have opted for e-bikes.

    The portal remains open for further applications, encouraging students to take advantage of this unique opportunity.

    The initiative offers a flexible down payment and monthly instalment plan, with the government covering the markup on both.

    This arrangement allows students to manage the cost of their motorcycles over time without the burden of interest, making it a more accessible option for those who rely on personal transportation for their education.

    Eligible applicants must be regular students of government or private graduate colleges or universities, aged 18 or older, and possess a valid driving license or learner permit.

    In the initial phase, the distribution of e-bikes will focus on the cities of Lahore, Multan, Faisalabad, Bahawalpur, and Rawalpindi. Petrol bikes will be distributed across other districts of Punjab.

    The deadline for applications is April 29, and interested students can register through the e-Bikes Portal [bikes.punjab.gov.pk].

    PITB Chairman Faisal Yousaf highlighted the transparency of the system, emphasizing that the initiative aligns with the broader goal of facilitating education across Punjab.

    He stated that the program’s aim is to make it easier for students to access motorcycles, enhancing their mobility and supporting their educational journey.

  • Profit plunge: Pakistan Refinery Limited records Rs1.24 billion loss

    Profit plunge: Pakistan Refinery Limited records Rs1.24 billion loss

    Pakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil Company Limited (PSO), faced a significant loss of Rs1.24 billion in the third quarter ending March 31, 2024, primarily due to reduced revenue and escalating costs.

    This marks a stark contrast to the same quarter in the previous fiscal year, when PRL posted a profit of Rs1.77 billion.

    The financial setback was announced through a notice to the Pakistan Stock Exchange (PSX) on Wednesday following a meeting of PRL’s board of directors on April 23. In light of the loss, the board recommended no dividend distribution.

    According to the report, the loss per share (LPS) for the quarter was Rs1.97, a notable decline from earnings per share (EPS) of Rs2.81 in the same period last year (SPLY).

    This financial downturn was driven by a 17 per cent drop in revenue from contracts, which fell to Rs49.45 billion in 3QFY24 from Rs59.55 billion in SPLY. As a result, PRL recorded a gross loss of Rs559.1 million, a significant shift from a gross profit of Rs4.46 billion in SPLY.

    The company’s ‘other income’ rose dramatically, up over 95 per cent to Rs1.12 billion in 3QFY24 compared to Rs574.32 million in SPLY.

    Despite this increase in other income, the company’s operating expenses soared by more than 240 per cent, reaching Rs1.69 billion in the third quarter, compared to Rs495.52 million in SPLY.

    Consequently, PRL reported an operating loss of Rs1.13 billion, a sharp reversal from an operating profit of Rs4.54 billion in the same period last year.

    The loss before tax (PBT) from refinery operations in 3QFY24 was Rs2.11 billion, a considerable drop from a profit of Rs2.65 billion in SPLY.

    However, despite the quarterly loss, PRL’s performance over the first nine months of the fiscal year remains positive, with a profit of Rs5.27 billion—more than double the Rs2.53 billion earned in the same period last year.

    Pakistan Refinery Limited was established in 1960 and has a current capacity of approximately 50,000 barrels of crude oil per day.

    It produces various petroleum products, including furnace oil, high-speed diesel, kerosene oil, jet fuel, and motor gasoline.

    Despite the recent downturn, the company’s operational capacity and product range remain robust.

  • Critical IMF meeting scheduled for April 29 to approve $1.1 billion for Pakistan

    Critical IMF meeting scheduled for April 29 to approve $1.1 billion for Pakistan

    The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on April 29 to deliberate on the approval of a $1.1 billion funding tranche for Pakistan.

    This amount represents the final installment of a $3 billion stand-by arrangement (SBA) with the IMF that is due to expire this month.

    The anticipated funding comes at a critical time for Pakistan’s economy, which has been struggling with a chronic balance of payments crisis.

    The country has nearly $24 billion in debt and interest repayments due over the next fiscal year, which is approximately three times more than its central bank’s foreign currency reserves.

    Meanwhile, Pakistan’s Finance Minister, Muhammad Aurangzeb, has indicated that the government is seeking a new long-term, larger loan from the IMF. Discussions are underway, with a staff-level agreement expected by early July.

    Islamabad is reportedly aiming for a multi-year agreement to promote macroeconomic stability and implement long-overdue structural reforms. However, the finance minister has not disclosed the exact loan size Pakistan is seeking.

    If approved, this would mark the 24th IMF bailout for Pakistan. The ongoing negotiations reflect the country’s continued reliance on international financial assistance to navigate its economic challenges.

    Pakistan’s economy is projected to grow by 2.6 per cent in the current fiscal year ending in June, according to the finance ministry.

    Despite this modest growth, the country continues to face high inflation, which is expected to average around 24 per cent this fiscal year, down from a record high of 38 per cent in May 2023.

    As Pakistan navigates these economic hurdles, securing the final tranche of the IMF’s stand-by arrangement and potentially a new loan agreement could provide much-needed relief and lay the groundwork for longer-term stability.

  • Ayesha Omar praises Imran Ashraf’s gesture about consent on Mazaq Raat

    Ayesha Omar praises Imran Ashraf’s gesture about consent on Mazaq Raat

    Ayesha Omar has recently praised Imran Ashraf’s exemplary behavior on the popular show Mazaq Raat. Ashraf showed great respect towards a young girl and her parents, which impressed Omar. She emphasized the importance of such actions in educating society.

    During the episode, Imran Ashraf, the host of Mazaq Raat, showcased a beautiful moment of empathy and consent. Before interacting with a young girl named Muntsha, Ashraf paused to seek permission from her parents. “Can I touch? Is it allowed?” he respectfully inquired.

    This thoughtful gesture not only won the hearts of the audience but also garnered widespread praise on social media. The parents granted permission, allowing Ashraf to proceed with the interaction. Throughout the exchange, the atmosphere was filled with warmth and positivity.

    Ayesha Omar, reflecting on the incident, commended Ashraf for his respectful approach. She emphasized the importance of such actions in shaping societal norms, she said, “I want to tell you about the gesture you made on this show, you knew what your gesture was. When that girl came and sat with you, and you asked her mother if I could touch her hand, I think if we want to educate society, it will be through such simple gestures.”
    This heartwarming moment serves as a reminder of the power of respect and consent in fostering empathy and understanding. Imran Ashraf’s conduct sets a commendable example, earning him praise and admiration from both his peers and the audience.

  • Ghar ki murghi, sona barabar; chicken at all time high prices

    Ghar ki murghi, sona barabar; chicken at all time high prices

    Prices of chicken have skyrocketed in the past days in Pakistan, rising by Rs. 200 per kilogram to reach Rs 697 per kg, reports Bol News.

    Prices in Gujranwala have begun selling chicken at will, disregarding the official government rate of Rs 680 per kg, Samaa has reported.

    Like other cities in the country, in Faisalabad too, the price of chicken had soared beyond expectations.

    Within a month, after an increase of Rs25, it has reached up to Rs750 per kg.

    Chicken sellers in Rawalpindi staged a demonstration outside the Rawalpindi Press Club to reject the official prices of chicken meat. They also observed a full-fledged strike over the price mechanism.

    The rate fixed by the government is Rs. 435 while the price of chicken has surged in the open market, with live chicken selling at Rs550 per kg and chicken meat at Rs850 per kg.

  • Finance Minister positive about Pak economy

    Finance Minister positive about Pak economy

    Finance Minister Muhammad Aurangzeb has stated that Pakistan’s foreign exchange reserves will increase to $10 billion in two months, as Pakistan is set to receive the $1.1 billion final loan from the International Monetary Fund (IMF).

    The minister said that Pakistan would not need to go to IMF in the future but only after obtaining a “large and longer” 24th programme.

    Interestingly, Aurangzeb made a witty comment about former Finance Minister Ishaq Dar, “no one can imagine a plan B with only 15 days of reserves,” – a veiled reference to Dar’s mention of his Plan B in 2023.

    Aurangzeb spoke at the inaugural session of the 7th Edition of the “Leaders in Islamabad Business Summit” (LIIBS).

    The minister also stated that the last loan tranche is expected to be disbursed next week and the country would get more inflows in June. Which would help the foreign exchange reserves balloon to the $10 billion mark, according to Aurangzeb.

  • Aiman Khan’s remarkable lookalike takes social media by storm

    Aiman Khan’s remarkable lookalike takes social media by storm

    Aiman Khan has charmed audiences with her talent and charisma over the years.
    Recently, social media was buzzing with surprise over a viral video showing a girl dancing at a wedding. What caught everyone’s eye was how much she looked like Aiman Khan.
    Dressed in a traditional pink outfit, she wowed the crowd with her dance moves, leading many fans to mistake her for the famous actress.
    After the video spread online, people quickly noticed the striking similarity between the girl and Aiman Khan. Fans even tagged Nida Yasir under the video, suggesting to her to invite the girl on her morning show for being Aiman Khan’s lookalike.

  • Apni behn ka rishta de dein’ Nazish Jahangir has had it with Babar’s fans

    Apni behn ka rishta de dein’ Nazish Jahangir has had it with Babar’s fans

    Actor Nazish Jahangir has had it with Babar Azam fans trolling her, after she said she wouldn’t consider marrying the star cricketer.

    A screenshot is circulating on social media in which Nazish Jahangri wrote on her Instagram story, “Jisko meri bat buri lagi ho wo Babar ko apni behn ka rishta de dein lekin meri jan chor dein”.

    The actress has confirmed that the screenshot is fake. She shared an Instagram story saying, “This is fake. I did not give any statement or reaction to our adorable trolls because it’s simply not in my upbringing at all. It’s sad how these barbarians show their true colors or defame not just me, but also our Babar Azam.”

    “They’re screaming for respect for him, I can only feel pity for them. The trolling, the defamation, the abuse, none of it matters to me at all. I’m only saying this because I don’t want to say any nonsense because there’s a lot of difference between your caliber and mine   so go on.”

    Recently, a fan asked her a question in a Q&A session on her Instagram that if Babar Azam proposed marriage to her, what would be her answer?

    She replied that she would refuse.

    Babar Azam fans were not happy with her response and relentlessly trolled her, which got so bad that she had to switch her Instagram account from public to private for a few days.

    Jahangir also wrote that, “Babar bhai is out brother, but the fans are openly highlighting the negative aspects. I have nothing to do with cricketers, they are all brothers for me, they have fallen behind.”

  • Saba Faisal vs Hira Khan: Clash over sons’ importance’s heats up social media

    Saba Faisal vs Hira Khan: Clash over sons’ importance’s heats up social media

    Saba Faisal, a renowned television actor known for being candid, recently grabbed headlines with her statement on the importance of having sons. During an interview she said that having sons brought her immense relief and satisfaction, as she believes it’s challenging for women to thrive independently.
    Here is video link of Saba Faisal’s statement about the importance of having sons:

    Actress Hira Khan strongly disagreed with Saba Faisal’s statement, expressing her disapproval in a harsh way. Hira wrote, “Stunned by the audacity and stupidity”
    Sadia Faisal, Saba Faisal’s daughter, criticized Hira for her choice of words towards a senior artist.

    Hira replied that in a conservative society like Pakistan where daughters are being killed, Saba Faisal is emphasizing the significance of having sons. Sadia Faisal angrily responded, “You are misinterpreting a simple statement. Hira you need to gain more life experience before discussing this matter.”

  • Two TTP terrorists killed in Punjab while crossing over from KP

    Two TTP terrorists killed in Punjab while crossing over from KP

    The Khorasan Diary has reported that two terrorists were killed in Bhakkar, Punjab while entering the province from Khyber Pakhtunkhwa.

    Their post read, “Two militants have been killed in Bhakkar, Punjab in an exchange of firing with Counter Terrorism Department (CTD) Punjab, according to officials the militants were trying to cross over from Khyber Pakhtunkhwa: CTD Punjab.”

    Recently, the Chief Minister of KP Ali Amin Gandapur said in a conference about the increasing cases of terrorism that “terrorists can access Punjab too but it is due to the sacrifices of KP police that this is not happening.”

    The Khorasan Diary also reported, “The militants have been identified as the affiliates of Tehreek e Taliban Pakistan. They were entering Punjab for an attack. A grand search and sweep operation had been launched to arrest the other militants: CTD Punjab”