Author: newsdesk

  • Interbank market: US dollar reaches all-time high against Pakistani rupee, surpassing Rs300 mark

    Interbank market: US dollar reaches all-time high against Pakistani rupee, surpassing Rs300 mark

    The US dollar reached a new high against the Pakistani rupee, going past Rs300 in the interbank market on Thursday. At 11:15 am, it was at Rs300.4 as per the Forex Association of Pakistan. In the open market, it was valued at Rs314.

    The day before, the dollar ended at Rs299.64 and went up to Rs315 in the open market. The Exchange Companies Association of Pakistan (ECAP) reported buying and selling prices at Rs309 and Rs312.

    As the dollar keeps going up, experts are asking the government to do something about the black market. Saad bin Naseer from Mettis Global said that even though it’s hard to find dollars in the interbank market, they’re easily available in the open market at higher prices.

    Naseer didn’t like that the central bank kept the interest rate at 23 per cent because people prefer investing in foreign currencies over the local economy. Malik Bostan, who leads the Forex Association of Pakistan, warned against hoarding dollars, thinking their price will keep rising.

    Bostan noticed regular people buying dollars thinking they’ll become more valuable due to the increase in the interbank market. He also mentioned that removing import restrictions from the IMF made the rupee weaker.

    Zafar Paracha, from the Exchange Companies Association of Pakistan, blamed the rupee’s decline on more unnecessary imports. He agreed with Bostan and urged people not to buy more dollars during this uncertain time for the rupee.

  • Farhan Saeed compares India and Pakistan as Chandrayaan lands on moon

    Farhan Saeed compares India and Pakistan as Chandrayaan lands on moon

    India marked its footprint on history yesterday when their third attempt at landing on the moon turned successful. The space shuttle Chadrayaan-3 landed on the south pole of the moon, making India the first country to do so, and the fourth country after China, USA and Russia to make it to the moon.

    Pakistanis celebrated their arch-rivals achievement too, congratulating India for the fearless achievement.

    Farhan Saeed took to X (formerly Twitter) to compare the two countries, observing that while India was progressing, Pakistan keeps deteriorating because of its refusal to talk about the issues that plague it.

    “On #76thIndependance #India lands on Moon and most of us are worried about where #Pakistan stands & it’s future. The basic reason is we are not even allowed to talk about our shortcomings as a nation. That film/drama is banned that shows the true picture of our society…

    labelling it as some kind of propaganda against our country. There is hardly , in fact no prime time programs that talks about or identifies the ‘real’ issues of Pakistan like education, feudalism and the list goes on.”

    The former leader of the band Jal went on to slam politicians who continue to divert attention from important issues, and media anchorpersons who play along. “The priority/will/direction/strength of any Nation to achieve greater things is only dependent on the hunger of how they want to be seen/addressed in the world as a country,” he wrote.

    The ‘Suno Chanda’ stated that instead of working together as a team, Pakistanis are more obsessed with wars or conspiracies, and how our existence as a country is threatened, which he believed proves that we’re not doing anything right.

    Several other Pakistani celebrities had come forward yesterday to congratulate India for the moon landing, like Mawra Hussain who had tweeted:

    “I’ve been watching a space show these days.. it’s so so fascinating to watch fiction and then to know it’s now a reality for our neighbours is just incredible #Chandrayaan3 Congratulations India & lots of love to all of my Indian fans on this outstanding achievement.”

  • ATC allows Lahore Police to arrest Imran Khan in Jinnah House case

    ATC allows Lahore Police to arrest Imran Khan in Jinnah House case

    An Anti-Terrorism Court (ATC) in Lahore has allowed Lahore police to interrogate and arrest Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan in the Jinnah House attack case.

    Imran Khan is already in Attock district jail to serve a three-year sentence in the Tosha Khana case.

    After Imran Khan was arrested on May 9 in the £190 million Al-Qadir Trust case, protests started across the country, with violent clashes between Pakistan Tehreek-e-Insaf (PTI) supporters and law enforcement agencies. Eight people died in the riots, while several others were injured. The rioting led to the ransacking of several state buildings and installations, including Jinnah House in Lahore and the General Headquarters (GHQ) in Rawalpindi.

    Protesters accused of attacking military installations will be tried under the Army Act.

    The Inspector General of Police (IGP) requested permission in an application to ATC to interrogate and arrest Imran Khan in the case pertaining to May 9 riots. On Wednesday, ATC Lahore approved the application submitted by the IGP.

  • Sister donates womb in UK’s first successful transplant

    Sister donates womb in UK’s first successful transplant

    Surgeons at Oxford have successfully carried out the first womb transplant in the UK.

    The womb was donated by a 40-year-old woman to her 34-year-old sister who was born without a uterus. The donor already had two children and considers her family to be complete. The sisters live in England and have requested to remain anonymous.

    The recipient was born with a rare condition known as Type 1 Mayer-Rokitansky-Küster-Hauser (MRKH) in which the uterus is “absent or underdeveloped, but has functioning ovaries”.

    The procedures were carried out by a team of 20 doctors which lasted around 17 hours in operating theatres at the Churchill hospital in February.

    It has been six months since the transplant and according to the doctors, both the women have “recovered well from surgery”. The recipient has embryos in storage that will be transferred.

    BBC reported that transplant surgeon Isabel Quiroga, who steered the team implanting the womb, said that the recipient was “absolutely over the moon, very happy, and is hoping that she can go on to have not one but two babies. Her womb is functioning perfectly and we are monitoring her progress very closely.”

    Prof Richard Smith, gynaecological surgeon, who led the organ retrieval team, has spent 25 years researching womb transplantation. He told the BBC it was a “massive success”.
    “The whole thing was emotional. I think we were all a bit tearful afterwards.”

    The donor is currently on immunosuppressive drugs in order to prevent tissue rejection however, the uterus will be removed after a maximum of two pregnancies due to long-term health risks.

    The first womb transplant surgery took place in Sweden in 2014 and the recipient successfully had a baby. She had received a womb from a friend in her 60s.
    Since then, 100 womb transplants have been carried out across the globe and around 50 babies have been born — mainly in the US and Sweden, but also in Turkey, India, Brazil, China, Czech Republic, Germany and France.

    According to British Journal of Obstetrics and Gynaecology, the surgeons in the UK were given permission to perform womb transplants in 2015, but “institutional delays” and Covid deferred it till now.

  • ‘You made us proud’: SRK, Indian celebrities celebrate as Chandrayaan-3 lands on moon

    ‘You made us proud’: SRK, Indian celebrities celebrate as Chandrayaan-3 lands on moon

    Indians all over the world are rejoicing as space shuttle Chandrayaan-3 lands on the south pole of the moon on Wednesday evening, becoming the first country to do so and the fourth country to fly to the moon. This was India’s third lunar exploration mission, launched on July 14 amidst much fanfare.

    Bollywood celebrities like Shah Rukh Khan, Akshay Kumar and Hrithik Roshan took to social media to celebrate the historical achievement, lauding the scientists who helped put India on the moon.

    Bollywood Badshah SRK shared a picture of the Indian flag on the moon on his Instagram account, congratulating the team behind the mission.

    Hrithik Roshan tweeted that he was proud to witness his people making strides and accomplishing history.

    Kareena Kapoor posted her congratulations with a picture of the space shuttle and the moon.

    Siddharth Malhotra shared a post on his Instagram stories and in the caption he wrote how proud he was of being a witness to history being made.

  • Will your city get monsoon rain in the next four days?

    According to the Met Department, monsoon currents from the Arabian Sea are likely to penetrate the upper parts of the country from Tuesday night, whereas a westerly wave is also likely to enter these areas today.

    Under the influence of these systems, rain and wind-thunderstorms are expected in different parts of Kashmir, including Neelum, Muzaffarabad, Poonch, Hattian, Bagh, Haveli, Sudhanoti, Kotli, Bhimber and Mirpur.

    A warning has also been issued for different parts of Gilgit-Baltistan, Murree, Galliyat, Islamabad, Rawalpindi, Attock, Chakwal, Jhelum, Mandi Bahauddin, Hafizabad, Gujranwala, Gujrat, Sialkot, Narowal, Lahore, Kasur, Sheikhupura, Chitral, Dir, Swat, Shangla, Buner, Mansehra, Kohistan, Abbottabad, Haripur, Kohat, Peshawar, Mardan, Swabi and Nowshera from August 23 to 27 with occasional gaps.

    Rain and thunder showers are also expected in Kurram, Lakki Marwat, Dera Ismail Khan, Bannu, Karak, Waziristan, Mianwali, Sargodha, Khushab, Faisalabod, Toba To Singh, Jhang and Bhakkar from 24th to 26th August. While in Dera Ghaz Khan, Ramrour, Musa Khel, Barkhan, Zhob, Kalat, Khuzdar on 25th and 26th August.

    The warning stated that moderate to heavy rainfall is expected to increase the water flows in local nullahs/streams of Kashmir, Gilgit Baltistan, Chitral, Dir, Swat, Kohistan, Shangla, Buner, Mansehra, Abbottabad, Mardan, Nowshera, Swabi, Galliyat, Murree, Rawalpindi/Islamabad from August 23 to 25.

    Moreover, moderate to heavy rains may cause urban flooding in the low-lying areas of the twin cities of Rawalpindi and Islamabad, Peshawar, and Lahore as well as may trigger landslides in the vulnerable areas of Murree, Galliyat, Kashmir, Gilgit Baltistan and hilly areas of Khyber Pakhtunkhwa during the wet spell.

  • India makes history as Chandrayaan-3 successfully lands on moon

    India makes history as Chandrayaan-3 successfully lands on moon

    India makes history by being the first country to ever land on the moon’s south-pole.

    Earlier today, former Federal Minister for Science and Technology, Fawad Chaudhry, congratulated India on X (formerly Twitter) as the country awaits the Chandrayaan-3 moon landing:
    “All eyes on #Chandryaan3 Moon landing 5:40 PM, great day for Indian Science Community and Space scientists, Congratulations to people of India on this great achievement”

    Chandrayaan-3 (means “mooncraft” in Sanskrit) is the third Indian lunar exploration mission. It was launched on 14 July 2023 and was expected to land near the lunar south pole region on 23 August around 05:45 pm IST and the touchdown was expected around 06:04 pm IST.

    So far, only three countries, the United States, Russia, and China, have been able to achieve a controlled landing on the lunar surface. But now India has become the first country to land on the moon’s south pole.

    Earlier in the week, Russia’s Luna-25 spacecraft was to land in the same area, however, it crashed on August 19 after spinning out of control.

  • Indian spy arrested in Karachi

    Indian spy arrested in Karachi

    According to Samaa news, law enforcement agencies have apprehended a man alleged to be an Indian spy along with a Pakistani facilitator in Karachi.

    Senior Superintendent of Police (SSP) City, Arif Aziz has said that the detained is identified as Akhil Dev and has been accused of having been working undercover for India.

    The operation was carried under the jurisdiction of the Kalakot police station in Lyari. Resultantly, incriminating evidence has been retrieved including two Indian passports, firearms, and foreign currency totaling five lakhs among other items. In addition, fake jewellery boxes, six mobile phones, one tablet, and various documents were also recovered from the suspects.

    SSP Arif Aziz stated that this arrest is a proof of rigour and commitment of Pakistani law enforcement agencies to protect national security.

    He also confirmed that investigations are underway to capture any potential aide linked to the accused.

  • NEPRA approves Rs5.40 per unit power tariff increase for quarterly adjustment

    NEPRA approves Rs5.40 per unit power tariff increase for quarterly adjustment

    The National Electric Power Regulatory Authority (NEPRA) has given its approval for a quarterly adjustment, resulting in an increase of Rs5.40 per unit in the power tariff.

    This adjustment comes as NEPRA recognises the limitations of the current structure of electricity distribution companies in providing relief to consumers. However, it’s important to note that this revised tariff won’t apply to Lifeline and K-Electric consumers.

    According to Samaa, NEPRA’s decision to revise the tariff comes after a thorough review of requests from distribution companies to raise the tariff by Rs5 per unit for the fourth quarter of the fiscal year 2022–23. Among these requests, FESCO, GEPCO, HESCO, and IESCO sought increases of Rs23.49 billion, Rs16.13 billion, Rs9 billion, and Rs9 billion, respectively.

    Additionally, LESCO requested a substantial increment exceeding Rs31 billion, while MEPCO, PESCO, QESCO, SEPCO, and TESCO collectively proposed tariff hikes totaling Rs27 billion, Rs9 billion, Rs7 billion, Rs5 billion, and Rs4 billion.

    Consumers should be aware that this tariff adjustment will be gradually recovered during September, October, and November, resulting in an added financial burden of Rs5.40 per unit.

    Distribution companies, in their submissions, highlighted revenue challenges stemming from decreased industrial demand. Particularly, LESCO faced a deficit of three billion units of electricity due to climate-related issues and industrial shutdowns. Both LESCO and HESCO faced higher capacity charges due to industry closures and reduced demand.

    Presently, there’s a backlog of approximately 350,000 pending connections with distribution companies. To recover revenue and address declining demand, the Central Power Purchasing Agency imposed surcharges amounting to Rs7.91.