Author: newsdesk

  • OGRA notifies major gas price hike for November

    OGRA notifies major gas price hike for November

    The caretaker government’s decision to implement a gas price increase of over 172 per cent for non-protected domestic consumers has left many shocked and outraged.  

    Starting on November 1, the revised prices are set to impose a significant financial burden on households already grappling with financial difficulties. 

    According to the notification released by the Oil and Gas Regulatory Authority (OGRA), the new gas prices represent a substantial hike across various consumption levels.  

    For instance, customers consuming 100 cubic metres of gas per month will now be charged Rs1,000, up from the previous rate of Rs400. Those using 150 cubic metres will see their monthly costs rise from Rs600 to Rs1,200. 

    On the other hand, the price for a monthly consumption of 200 mmbtu has increased to Rs1,600 from the previous Rs800, and for users consuming 300 mmbtu monthly, the cost has risen to Rs3,000 from Rs1,100. 

    Moreover, the charge for consuming 400 mmbtu of gas per month has gone up from Rs2,000 to Rs3,500. For those using more than 400 mmbtu per month, the new rate is Rs4,000, up from the earlier Rs3,100. 

    This significant and unexpected price surge is anticipated to have a severe impact on household budgets, especially for low-income families who heavily depend on natural gas for cooking and heating. 

  • NEPRA announces increase in electricity tariff, impacting November bills 

    NEPRA announces increase in electricity tariff, impacting November bills 

    In yet another unsettling development for power consumers already burdened by rising costs, the National Electric Power Regulatory Authority (NEPRA) has announced an increase of Rs0.40 per unit in the electricity tariff.  

    This adjustment, approved by NEPRA in response to the monthly fuel adjustment for September, will result in higher charges on November bills for electricity consumers. 

    It’s important to note that this tariff hike will affect all consumer categories, except for those classified as lifeline consumers and K-Electric users.  

    In October, NEPRA had previously approved a separate increase of Rs1.71 per unit in the electricity tariff, which was attributed to fuel adjustment charges (FAC) for the month of August. This increase was reflected in the bills for October. 

    Additionally, on October 3rd, NEPRA sanctioned a per-unit price increase of Rs 3.28 as part of the quarterly adjustment.  

    This adjustment will entail a recovery of Rs3.28 per kilowatt-hour (kWh) from various consumer categories within power distribution companies (DISCOs) and K-Electric over a six-month period, spanning from October 2023 to March 2024. 

  • Pakistan stock market continues bullish run, nearing 55,000-point mark

    Pakistan stock market continues bullish run, nearing 55,000-point mark

    The Pakistani stock market is expected to surge past 55,000 points, continuing its bullish run at the Pakistan Stock Exchange (PSX). The benchmark KSE-100 Index reached a new historic high of 54,261 points on Wednesday amidst record trading activity.

    Institutional buying drove the index past the 54,000 mark during intraday trading. Maintaining momentum throughout the day, the KSE-100 Index settled at 54,261.42 points, an increase of 525.69 points, or 0.98 per cent.

    Profit-taking erased some gains at the PSX on Tuesday, with the benchmark KSE-100 Index falling by 125 points to settle at 53,735.73 at the end of trading.

    However, buying resumed on Wednesday, particularly among index-heavy sectors such as automobile assemblers,cement, chemicals, commercial banks, oil and gas exploration companies, and OMCs.

    Analysts attribute the bullish trend to expectations of a decline in the policy interest rate in the coming weeks.

    Experts believe that interest rates may come down sooner than expected due to the fall in global oil prices.

    Improved macroeconomic indicators, including a decline in the country’s current account deficit to $8 million in September 2023 (down from $360 million in the same month in 2022) and a drop in CPI-based inflation, have also contributed to the positive sentiment at the bourse.

  • SBP orders bank closures in smog-affected Punjab districts

    SBP orders bank closures in smog-affected Punjab districts

    On Wednesday, the State Bank of Pakistan (SBP) announced the closure of bank branches in Lahore division and certain districts of Punjab severely affected by smog.

    According to a statement issued by the central bank, all banks and Micro Finance Banks (MFBs) are required to keep their branches closed in Lahore Division, including Lahore, Nankana Sahib, Sheikhupura, and Kasur districts, as well as Gujranwala, Hafizabad, Sialkot, and Narowal districts, on November 10.

    This decision was made in accordance with a notification from the Punjab government dated November 8, 2023. The Punjab government declared an “environmental and health emergency” in Lahore and two other divisions from November 9 to 12 to address the smog’s impact.

    According to the notification, all markets, shopping malls, restaurants, cinemas, gymnasiums, schools, and both public and private offices will remain closed for four days in Lahore, Gujranwala, and Hafizabad divisions. Public and private transport to and from these areas will also be restricted.

    Section-144 and health emergencies have been imposed in the Lahore division to control smog, following deteriorating air quality in the region over the past few days. Section 144 has been imposed in Lahore, Kasur, Sheikhupura, and Nankana Sahib districts.

    During environmental and health emergencies, educational institutions, government and private offices, cinemas, parks, and restaurants will remain closed, and markets will be shut on Saturday, as specified in the notification.

  • World Cup 2023: England defeats Netherlands by 160 runs

    World Cup 2023: England defeats Netherlands by 160 runs

    In the ICC World Cup, England won the event for the second time by defeating the Netherlands by 160 runs.

    England captain Jos Buttler decided to bat first against Netherlands.

    England scored 339 runs for the loss of 9 wickets in the allotted 50 overs, Ben Stokes was outstanding by playing an innings of 108 runs. His 84-ball innings included 6 sixes and 6 fours. David Mullan 87 and Chris Woakes scored 51 runs, Jonny Bairstow 15, Joe Root 28, Harry Brook 11 and captain Jos Buttler returned to the pavilion after scoring only 5 runs.

    Bas de Lede took three wickets for the Netherlands while Aryan Dutt and Logan van Beek took two wickets each and Makarin took one wicket.

    For the Netherlands, Scott Edwards scored 38, Wesley Bracey 37, and Sybrand 33 were outstanding, besides Basdi Leda 10, Max O’Dowd five, Makarin four, Colin Ackerman and van der Meerwe were out for zero runs. Teja Nida Minoru remained not out with 41 runs but could not give success to his team.

    England’s Moeen Ali and Adil Rashid dismissed 3 players each.

  • Imran Khan challenges indictment in Supreme Court

    Imran Khan challenges indictment in Supreme Court

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has challenged his indictment in the cipher case in the Supreme Court (SC) on Wednesday.
    The former prime minister approached the SC through his counsel Hamid Khan, urging the top court to declare illegal the Islamabad High Court’s (IHC) decision to withhold the indictment.

    He had previously argued his case before the Supreme Court, claiming that he was being unfairly targeted for political reasons. The former prime minister further asserted that government machinery is being used to fabricate false charges against him.

    This is the second petition the PTI chief has filed in the Supreme Court related to the cipher case.

    Last week, Imran Khan submitted a request to the Supreme Court for post-arrest bail in the cipher case.
    Imran and party’s vice chairman Shah Mehmood Qureshi are currently in Adiala jail.

  • President Alvi writes letter conveying PTI concerns to PM Kakar

    President Alvi writes letter conveying PTI concerns to PM Kakar

    President Arif Alvi has penned a letter to Interim Prime Minister Anwaarul Haq Kakar, expressing the concerns of the Pakistan Tehreek-e-Insaf (PTI) regarding the “erosion of fundamental rights and a level playing field for all political parties” in the upcoming general elections.

    This communication follows the announcement of elections being held on February 8, 2024, stirring political activity across major party lines.

    The details mentioned on X (formerly Twitter) account state, “President Dr. Arif Alvi has conveyed to the Care-taker Prime Minister, Mr. Anwar ul Haq Kakar, the concerns of Pakistan Tehreek-e-Insaf (PTI) on the erosion of fundamental rights and level playing field for all political parties.”

    He also forwarded a letter addressed to him by the General Secretary of PTI, Mr. Omar Ayub Khan, to the Prime Minister containing the concerns of the party.

    In his letter, the President stated that it was of utmost importance that the caretaker government under the Prime Minister’s leadership made efforts as a neutral entity to provide a level playing field for all political parties.

    “In this context, it was reassuring to hear your recent statements whereby you stated that it was the caretaker government’s policy that all registered political parties should have equal rights and opportunities to contest the forthcoming elections”, he wrote.

    He said that “there was a resonance in Pakistan that for free, fair and credible elections, all political parties and leaders had right to contest and it was up to people to decide.”

    In his letter, President Alvi said that he was constitutionally “duty-bound, along with the prime minister and all institutions, to protect the rights of the citizens”.

    He said that in his missive, the PTI secretary general had conveyed the party’s concerns and allegations regarding the “erosion of fundamental rights, with particular reference to enforced disappearances, forced conversions of political loyalties, absence of level playing field for major political parties, crackdown on media and mistreatment of female political activists through prolonged illegal detentions”.

    In response to the concerns, PM Kakar has offered assurances that individuals affiliated with PTI Chairman Imran Khan, currently incarcerated in connection with the cipher case and convicted in the Toshakhana case, will be permitted to participate in the upcoming polls.

  • 11.11 sales you wouldn’t want to miss

    The end-of-the-year sales, popularly known as 11.11 sales, are about to commence, with outlets and brands offering high-end products at cheaper prices.

    Here, we will share with you some of the best deals being offered by the biggest names in the retail business:

    Daraz 11. 11

    Daraz is offering discounts on various products, from electronic devices to beauty products. There are products of daily use, mobile phones, fashion, health, home appliances, and various accessories at cheaper prices.
    The discounts they claim to offer are of a combined total of one billion rupees as the tagline says, “1 Arab k discounts”. There are no delivery charges and mega deals are available, offering up to 75 percent off.

    The sale will start on November 11 and will last till November 21.

    AliExpress 11.11

    AliExpress is also hosting a grand sale on all the products on its app and website with a discount of up to 50 percent. It is also offering Rs. 1,140 off every Rs.5,702 worth of shopping.
    Products include cosmetics, gadgets, and everything in between, with more than 80 percent discounts on bestselling products.

    With a warm-up on November 8, the sale will officially begin on November 11 and will last for the next seven days.

    Laam.pk Mega deals11.11

    Laam.pk has announced huge sales on all the high-end luxurious brands on its website. It is offering discounts ranging from 30 percent to more than 70 percent on all its collections. There are discounts available on bags, jewelry, and footwear as well. It’s a golden opportunity for all those preparing for the shadi season ahead.
    The sale will be live from November 8 to 12.

    Edenrobe 40 percent sales

    Edenrobe, a high street clothing brand, is offering an alluring 40 percent discount on its winter products and an end-of-the-season sale on summer products. The brand has an affordable range for students and those with lower budgets.
    The offer is available both in stores and online.

    Gul Ahmed Ideas 11.11

    Gul Ahmed Ideas 11.11 Sale is offering discounts on men’s, children’s, and women’s collections from unstitched to pret. There are 40-50 percent discounts available on all the collections including bedsheets, bathrobes, and footwear as well.

    One.pk 11.11

    One.pk is a brand to look out for. The glam brand is offering 30-50 percent discounts on men, women and kids’ wear. The products are all chic, high-quality winter wardrobes of both luxurious and street fashion. Shoes, denim, shirts, shorts, and trousers are calling all the western wear lovers.

    Heels 11.11 Blockbuster Sales

    Heels are offering excellent discounts on classical winter footwear while there is a flat 50 percent off for a number of products including heels, flats, shoes, and sandals.
    However, from November 8-12, there is 23 percent off on the entire stock.

    Diners 11.11

    Known for comfy clothes for men, women, and kids, Diners.pk is also offering a flat 25 percent off on all products. The products, western and traditional, are available in all sizes while children’s items are at a 50 percent discount.

  • 15,000 civilians flee north Gaza in one day as Israeli forces move in: What we know about day 33

    Since Tuesday, Israel has conducted severe air raids across the Gaza Strip, targeting the vicinity of al-Shifa and Indonesian hospitals, as well as Khan Younis, Nuseirat and Jabalia refugee camps.

    15,000 civilians flee north Gaza

    Civilians from northern Gaza have been evacuating in large numbers as Israeli ground forces move into the area while air and artillery strikes continue.

    As of Tuesday, about 15,000 people fled while on Monday and Sunday 5,000 and 2,000 escaped respectively, reported the UN Office for the Coordination of Humanitarian Affairs.

    Civilians fled in a four-hour period as scheduled daily by the Israeli military. These civilians include children, elderly and people with disabilities.

    Nuseirat refugee camp

    A number of people have been killed as attacks on Nuseirat refugee camp resumed at dawn on Wednesday, Wafa news agency reported.

    Al Jazeera reports that the killed and injured were taken to Al-Aqsa Martyrs Hospital “in the centre of the Gaza Strip as surrounding areas continued to endure another night of intense bombardment”.

    Moreover, people are said to still be trapped under the debris of the attacked residential building.

    Humanitarian convoy targeted

    The International Committee of the Red Cross (ICRC) is “deeply troubled” after five trucks and two ICRC vehicles carrying lifesaving medical supplies came under fire on Tuesday.

    According to the statement, the Israeli attack resulted in the damage of two trucks and a driver was wounded.

    “These are not the conditions under which humanitarian personnel can work,” head of the ICRC delegation in Gaza, William Schomburg, said.

    “We are here to bring urgent assistance to civilians in need. Ensuring that vital assistance can reach medical facilities is a legal obligation under international humanitarian law.”

    All bakeries closed

    All bakeries in the north of Gaza have reportedly been shut down because of “lack of fuel, water and wheat flour” and the damage caused by Israeli attacks, the UN has confirmed.

    It has also been revealed that wheat flour is no longer available in the market in the north and additionally, it has been seven days since aid organisations have failed to deliver any food.

    Whereas only nine bakeries are still “intermittently” open in southern Gaza supplying bread to shelters only when flour and fuel are available.

    Credits Al Jazeera

  • Was General (retd) Faiz Hameed part of ‘Qabza Mafia’?

    Was General (retd) Faiz Hameed part of ‘Qabza Mafia’?

    The Supreme Court of Pakistan has rejected a petition against former Inter-Services Intelligence (ISI) chief Lt Gen (retd) Faiz Hameed, accusing him of land grabbing.

    During a hearing on a human rights case against the former Director General of the Inter-Services Intelligence (ISI), a three-judge bench led by Chief Justice of Pakistan (CJP) Qazi Faez Isa heard the plea.

    Disposing of the petition, the Supreme Court told the petitioner that he had other relevant forums to approach.

    “The Supreme Court has disposed of the petition without discussing the merits of the case,” it added.

    The additional attorney general said that the petitioner can refer to the Ministry of Defence and retired military officers can also be court-martialled, said the top court.

    Justice Athar Minallah emphasized the distinction between the human rights cell and the Supreme Court, stating that the cell lacked legal authority or status.

    The petitioner’s claims centered on the alleged illegal actions of the former spy chief, which were purportedly aimed at gaining control of a housing project.

    The petitioner urged the federal government to take action against Lt Gen (retd) Faiz Hameed and requested the court’s permission to present evidence for his arguments.

    CJP Isa noted the seriousness of the allegations and inquired whether the petitioner would appear in the case personally or through a lawyer.

    The petitioner mentioned that he had recently engaged a lawyer and requested an adjournment to prepare.

    However, CJP Isa remarked that the court will not order an adjournment and instructed the counsel to prepare for the case.

    The Supreme Court ultimately directed the petitioner to seek other appropriate forums for their grievance.

    The court also mentioned the option of approaching the Defense Ministry in the case of allegations against a retired army officer.

    The Petition

    A housing society’s CEO filed a petition with the human rights cell (HRC) of the Supreme Court seeking action against former Inter-Services Intelligence (ISI) director general Lt Gen (retd) Faiz Hameed over alleged land grabbing and stealing valuables.

    “On May 12, 2017, my house and office were raided on the orders of General (Rtd) Faiz Hameed. During the raid, valuables and records of our private housing society were stolen,” said the petitioner Moeez Ahmed Khan.

    In his petition, Khan said that the purpose of illegal proceedings against him was to take control of TopCity-1, a housing society located at Srinagar Highway in Islamabad.

    “After the raid, I along with my five other colleagues were kept in confinement. The federal government should take action against Gen (Rtd) Faiz Hameed, his brother Najaf, and others,” said the petitioner.