Author: newsdesk

  • History made in PSL; Three brothers in same team

    History made in PSL; Three brothers in same team

    History has been made in the Pakistan Super League (PSL) season nine, with three brothers, all fast bowlers, joining the same team. After signing up pacer Naseem Shah, Islamabad United has also made his younger brothers Hunain and Ubaid Shah a part of their team.

    The player’s draft ceremony of PSL nine was held in Lahore in which the formation of teams for the ninth edition of Pakistan Super League 2024 was completed.

    Franchise owners, Chairman Pakistan Cricket Board (PCB) Management Committee Zaka Ashraf, and cricketers participated in the event.

    Naseem Shah’s younger brother Hunain Shah made a splash in the National T20 Cup while Ubaid Shah is part of the Pakistan Under-19 team that is currently playing in the Asia Cup in Dubai.

    Islamabad United named Hunain and Ubaid Shah in their emerging category squad for PSL nine. Naseem Shah left Quetta Gladiators and became a part of Islamabad United even before the draft.

    This is the first time that three brothers have been included in a team together and all three are fast bowlers.

  • Perth Test: Australia won the toss and decided to bat first against Pakistan

    Perth Test: Australia won the toss and decided to bat first against Pakistan

    In the first Test match between Pakistan and Australia in Perth, the host team won the toss and decided to bat first. Australia has scored 117 runs without loss in 25 overs before the lunch brake.

    Speaking on the occasion of the toss, the captain of the national Test team, Shan Masood said, “If I had won the toss, I would have batted first, two players are making their debut in our team in the first match against Australia”.

    Earlier, Aamir Jamal and Khurram Shehzad were given Test caps, and Shaheen Afridi and Hasan Ali gave Test caps to the players.

    Babar Azam was given a cap and a commemorative shield by the captain for playing his 50th Test.

    Pakistan’s squad:

    The national team decided to enter the field with four fast bowlers. The Pakistan team included captain Shan Masood, Imam ul Haque, Abdullah Shafiq, Babar Azam, Saud Shakeel, Sarfaraz Ahmed, Salman Ali Agha, Faheem Ashraf, Shaheen Shah Afridi, Aamir Jamal, and Khurram Shahzad.

    Australia’s squad:

    The Australian team consists of David Warner, Usman Khawaja, Marnus Labuschagne, Steve Smith, Mitchell Marsh, Travis Head, Alex Carey, Mitchell Starc, captain Pat Cummins, Nathan Lyo,n and Josh Hazlewood.

    It should be noted that this series of three Test matches is being played for the Benaud–Qadir Trophy.

  • Pakistan plans to secure $4.5 billion from diverse sources in current fiscal year

    Pakistan plans to secure $4.5 billion from diverse sources in current fiscal year

    Caretaker Minister for Finance, Dr Shamshad Akhtar, has outlined Pakistan’s financial projections for the current fiscal year (2023–24), highlighting an anticipated mobilisation of approximately $4.5 billion from both multilateral and bilateral sources, excluding the International Monetary Fund (IMF).

    Minister Akhtar disclosed that the government foresees receiving over $1.6 billion in the second quarter (Q2) from sources such as the Asian Development Bank (ADB), the World Bank, and the Asian Infrastructure Investment Bank (AIIB).

    She clarified that these inflows encompass funds allocated to both project-based and programme-based initiatives.

    Highlighting progress in negotiations, the minister revealed the completion of discussions for certain programme loans, with impending disbursements expected.

    She reassured that Pakistan remains committed to meeting its debt obligations promptly, both currently and in the future.

    Regarding the International Monetary Fund (IMF) programme, Minister Akhtar reported the successful conclusion of the first review of the Standby Agreement, resulting in the attainment of a Staff Level Agreement (SLA).

    Pending approval by the IMF’s Executive Board, this agreement will grant Pakistan access to $700 million.

    Commenting on the prevailing economic situation, Minister Akhtar acknowledged the challenges faced domestically and globally during FY2023.

    Despite these hurdles, she asserted that fiscal and external sector stability have been achieved through the implementation of various stabilisation measures and structural reforms.

  • Pakistan repays $5.4 billion of $24.6 billion external debt

    Pakistan repays $5.4 billion of $24.6 billion external debt

    The State Bank of Pakistan (SBP) governor revealed that Pakistan’s external debt obligations for Fiscal Year 2024 are $24.6 billion, as stated during the post-Monetary Policy Committee (MPC) meeting on Tuesday.

    Breaking down the figures, the principal amount is $20.7 billion, with an additional $3.9 billion accounting for interest.

    Notably, a total of $5.4 billion has already been repaid, encompassing a $4 billion principal payment and a $1.4 billion interest payment.

    As a result, the outstanding debt now stands at $19.2 billion, with plans to rollover $12.4 billion (with $9.3 billion already confirmed), according to the governor.

    This leaves a net remaining amount of $6.8 billion for the remaining seven months of the fiscal year. This comprises a $4.3 billion principal and a $2.5 billion interest payment.

    It’s crucial to note that the current foreign exchange reserves are relatively limited, standing at approximately $7 billion.

  • Pakistan’s credit rating maintained by Fitch at ‘CCC’ amidst financing challenges

    Pakistan’s credit rating maintained by Fitch at ‘CCC’ amidst financing challenges

    Fitch Ratings, a US-based credit rating agency, has maintained Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC,’ according to a statement released on Wednesday.

    The ‘CCC’ rating indicates significant external funding risks due to elevated medium-term financing requirements, notwithstanding some stabilisation and Pakistan’s commendable performance on its current standby arrangement (SBA) with the International Monetary Fund (IMF), as explained by Fitch.

    While anticipating scheduled elections in February and prompt negotiation for a subsequent IMF programme after the SBA concludes in March 2024, Fitch cautioned about potential delays and uncertainties regarding Pakistan’s ability to achieve this.

    Fitch emphasised the potential vulnerability of recent reforms and the prospect of renewed political volatility in the wake of the upcoming elections. Regarding the ongoing IMF programme, Fitch expressed confidence in the unproblematic approval of the recent staff-level agreement (SLA) by the IMF board.

    Fitch’s assessment highlighted the positive outcomes of the programme review, including sustained fiscal consolidation, energy price reforms despite public backlash, and strides towards adopting a more market-driven exchange rate regime.

    However, Fitch also pointed out risks associated with policy implementation, citing a historical pattern of parties across the political spectrum in Pakistan failing to implement or reversing reforms agreed upon with the IMF.

  • BTS’ Jungkook dominates Billboard Music Awards 2023

    BTS’ Jungkook dominates Billboard Music Awards 2023

    Jungkook from BTS just achieved a HUGE milestone in the music world! His new solo song, ‘Standing Next To You’ is now at the top of the Billboard Digital Song Sales chart in the United States.

    Jungkook has been making waves as a solo artist since 2023, proving himself to be a major player in the industry. His debut album, “GOLDEN,” dropped on November 3, and the lead track from that album snagged the number one spot on the Billboard chart. It’s a big deal because last week, Taylor Swift was holding the top position with her song “You’re Losing Me.”

    Jungkook’s solo success is making headlines as he surpasses well-known artists and establishes himself as a major force in the music industry.

  • Can the US Veto in UN be bypassed to end Gaza genocide? Here’s how you can help

    Can the US Veto in UN be bypassed to end Gaza genocide? Here’s how you can help

    The United States vetoed a United Nations resolution on Friday, December 8, backed by almost all other Security Council members and dozens of other nations, demanding an immediate humanitarian ceasefire in Gaza. In this emergency meeting, U.N. Secretary-General Antonio Guterres invoked Article 99, a rare move to force a vote on the deteriorating humanitarian situation in Gaza, where two million people are displaced and more than 18,000 people have been killed.

    The vote in the 15-member council was 13-1, with the United Kingdom abstaining.

    The US is facing criticism from all over the world and domestic backlash, but there is a way to sign a petition to appeal to the respective ambassador to the UN asking them to invoke article 377 A to get around the US Veto and call for a permanent ceasefire.

    What is Article 377 A?

    The United Nations General Assembly Resolution 377 A is known as the ‘Uniting for Peace Resolution’ states that in any case where the Security Council, because of a lack of unanimity among its five permanent members (P5) fails to act as required to maintain international security and peace, the General Assembly shall consider the matter immediately and may issue appropriate recommendations to the UN members for collective measures, including the use of armed forces when necessary, to maintain or restore international security and peace.

    How is this done?

    Using social media is effective but there are other concrete ways to invoke Article 377 A.

    This can be done by writing to the UN Ambassador to demand they invoke UNGA’s resolution 377A.

    A copy of the email needs to be sent to the undesa@un.org and inquiries2@un.org

    The petition has to be signed and available on the @call2actionnow page.

    Here’s the link to the petition for Pakistan: https://chng.it/qdb9VVqtwt

  • Imran Khan and Shah Mahmood Qureshi indicted in cipher case again

    Imran Khan and Shah Mahmood Qureshi indicted in cipher case again

    Pakistan Tehreek-e-Insaf’s (PTI) former chairman Imran Khan and the party’s vice chairman, Shah Mahmood Qureshi, were indicted again in the cipher case on Wednesday.

    A special court established under the Official Secret Act 2023 indicted both PTI leaders with Judge Abdul Hasnat Zulqarnain announcing the decision.

    Both leaders were found guilty of misusing a diplomatic cable issued by the Pakistan embassy in Washington DC for political purposes.

    During the hearing, Federal Investigation Agency (FIA) Special Prosecutors Shah Khawar and Zulfiqar Abbas Naqvi appeared in court, while Imran Khan and Shah Mahmood Qureshi were represented by their lawyers.

    The regular trial of the cipher case against the former prime minister and ex-foreign minister will begin in Adiala Jail in Rawalpindi.

    A hearing was also held on Tuesday, where family members of PTI leaders were also present. Some journalists were also present to witness the proceedings.

    Earlier, after Khan and Qureshi challenged their indictment in the case, the Islamabad High Court (IHC) declared their jail trial “null and void” while allowing intra-court appeals in the case.

  • Shaheen Afridi appointed vice-captain of national Test team

    Shaheen Afridi appointed vice-captain of national Test team

    Shaheen Shah Afridi has been appointed as the vice-captain of Pakistan’s Test cricket team.

    The first Test match between Pakistan and Australia will start tomorrow in Perth. Shaan Masood will lead the national test team, and Shaheen Shah Afridi has been appointed as the vice-captain of the national Test team. The Pakistan Cricket Board has said that Shaheen Shah Afridi will serve as the vice-captain of the national team in the Test series against Australia.

    This test series is a part of the International Cricket Council (ICC) World Test Championship.

  • Shaan Masood becomes captain of Karachi Kings

    Shaan Masood becomes captain of Karachi Kings

    Pakistan Super League (PSL) franchise Karachi Kings has appointed national test team captain Shan Masood as the captain of their franchise.

    Talking during an event in Lahore on Wednesday, Karachi Kings owner Salman Iqbal said, “Shaan Masood will be the captain of the Karachi team. I think Shaan is a good leader. I request the Karachi fans to come to the stadium and support the team this year. They will try to win more matches and try to pick good players in the draft.”

    Karachi Kings congratulated Shaan Masood for taking over the leadership of the team on the social media platform ‘X’.

    The drafting ceremony of the players for edition 9 of the Pakistan Super League will be held today.