Author: newsdesk

  • Pakistani rupee records slight increase against US dollar, settles at Rs285.99

    Pakistani rupee records slight increase against US dollar, settles at Rs285.99

    The State Bank of Pakistan reported that the Pakistani Rupee (PKR) maintained an upward trajectory against the US dollar in the interbank foreign exchange market on Tuesday.

    The PKR experienced a gain of Rs0.072 against the greenback, resulting in a closing rate of Rs285.99. This marks an improvement from the previous day’s closing rate of Rs286.71.

    Experts attribute the rise in the dollar’s value to the government’s successful fulfillment of all conditions set by the International Monetary Fund (IMF).

    Prime Minister Shehbaz Sharif recently engaged in his fourth communication with the IMF Managing Director, Kristalina Georgieva, within a span of six days.

    It is worth noting that Pakistan’s ninth review by the IMF under the 2019 Extended Fund Facility, which aims to secure the release of $1.2 billion in funds, is still pending. With only three days remaining until the programme’s expiry on June 30, there is a pressing need to conclude the review process promptly.

  • Will Pakistan secure IMF’s bailout? Decision expected within 48 hours

    Will Pakistan secure IMF’s bailout? Decision expected within 48 hours

    Prime Minister Shehbaz Sharif engaged in a telephonic conversation with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), on Tuesday.

    During the discussion, Prime Minister Shehbaz Sharif expressed his optimistic outlook, anticipating that a decision regarding the bailout programme would be reached within the next day or two.

    In an official statement issued by the Prime Minister’s Office (PMO), it was highlighted that the premier and IMF MD delved into various matters pertaining to the IMF programme. The statement further indicated that the efforts of the finance minister and his team were duly acknowledged by the IMF MD.

    The statement continued to convey the Prime Minister’s expectation that the coordination efforts on finer details would culminate in an IMF decision in the coming days. Additionally, Shehbaz reiterated his commitment to achieving the shared goal of improving the economic situation through collaborative endeavors.

    Last week, Prime Minister Shehbaz Sharif held a meeting with Georgieva during the Summit for a New Global Financial Pact in Paris, wherein he provided a comprehensive briefing on Pakistan’s economic outlook. The Prime Minister expressed hope that the critical funds would be disbursed as a result.

    Pakistan is currently engaged in a race against time to revive its halted bailout programme, which is set to conclude on June 30. Experts emphasise the significance of resuming the IMF bailout, which has been at a standstill since November of the previous year.

    The cash-strapped South Asian economy is grappling with a balance of payment crisis, making the expected funding of $1.1 billion from the international lender crucial. This funding would also pave the way for additional inflows from Pakistan’s multilateral and bilateral partners, effectively reducing the risks associated with a potential default, as per expert opinion.

  • Piracy, copyrights: How will Pakistan’s first music policy help musicians?

    Piracy, copyrights: How will Pakistan’s first music policy help musicians?

    Federal Minister of Information and Broadcasting, Marriyum Aurangzeb, has released a statement announcing that Pakistan’s first music policy is being designed to help boost the industry and address issues like copyrights, pirating as well as artist rights.

    According to Aaj news, Aurangzeb pointed out how Pakistani artists have suffered from theft of intellectual rights because of weak policy planning.

    “Since the 1970s, no policy parameters, including legislative and administrative, for the music industry have been introduced,” the PMLN politician lamented in a statement. “The new policy will fully protect the copyright, which [will] help compose quality music for masses.”

    Aurangzeb revealed that the music policy has been prepared according to international music law standards, and will address issues like piracy, copy rights as well as artists’ public performance, production , adaptation, duration and communication rights.

    The rights of Pakistani singers, song writers, composers and producers will fall under this policy as Aurangzeb said that all issues and demands of music stakeholders, especially copyrights will be resolved.

    Aurangzeb also stressed that the policy will work to protect classical musicians, as well as set up initiatives to promote more regional musicians by providing incentives. The policy will address how Pakistan’s musical legacy can be preserved as it is, “rich, being a unique combination of Sufi poetry, with classic and modern music”.

  • ‘He is my home’: Kiara Advani opens up about marriage to Sidharth Malhotra

    ‘He is my home’: Kiara Advani opens up about marriage to Sidharth Malhotra

    Everyone remembers how the world’s axis shifted when Bollywood actors Kiara Advani and Siddharth Malhotra announced their marriage on social media, along with a gorgeous video that included a lovely rendition of Ranjha that made fans cry buckets of tears?

    Now, speaking to Mirchi Plus, Advani, who is currently doing promotion interviews for her upcoming film ‘Satyaprem Ka Katha’, spoke about what being married to the ‘Kapoor And Sons’ actor is like, gushing that she regards Malhotra not only as her best friend, but also her home.

    “I got married recently, and it was a love marriage. So naturally, I believe in true love. A home is made by two people and I feel incredibly lucky that my partner, the man I have chosen, my husband is also my best friend. He is my everything, my home. Wherever I am, he is my family, my home.”

    Seriously we’re not crying, we’re sweating because of the heat.

    Kiara and Sidharth met in 2018 during the wrap up party for Netflix’s Lust Stories which is when Advani acknowledged she began liking him.

    “I’ll never forget that night,” confessed the actress on a talk show.

    In February 2023, the pair set hearts racing when they got married in a star-studded wedding in Suryagarh Palace in Jaisalmer.

  • Trials of civilians have not started yet in military courts, Supreme Court told

    Trials of civilians have not started yet in military courts, Supreme Court told

    Attorney General of Pakistan (AGP) Mansoor Usman Awan confirmed on Tuesday that military trials of civilians had not started yet.
    The AGP gave the statement during the fourth hearing of the petitions filed against the cases of civilians in military trials.

    During Monday’s hearing, Chief Justice of Pakistan (CJP) Umar Ata Bandial asked for reassurance from the AGP that no such trial will be tried until the case is heard in the court.

    The AGP confirmed that trials of civilians have not started yet.
    Earlier, Petitions against military trials were filed by former Chief Justice of Pakistan (CJP) Jawwad S. Khawaja, Aitzaz Ahsan, Karamat Ali, and former Prime Minister Imran Khan.

  • Govt offers Islamabad International Airport for lease to foreign investors

    Govt offers Islamabad International Airport for lease to foreign investors

    The government has made the decision to initiate the leasing process of New Islamabad International Airport to international investors in its initial phase. This decision follows the encountered practical difficulties in outsourcing the international airports located in Karachi and Lahore.

    Compared to other airports, the New Islamabad International Airport has been deemed a clean transaction, prompting the government to explore outsourcing options as soon as possible.

    The International Finance Corporation (IFC) has also indicated that there are parties expressing interest in managing the operations of all three airports, as mentioned during a presentation to Minister for Finance Ishaq Dar in the federal capital.

    However, expediting the process will not be easy for the government since no airport outsourcing has been formally advertised thus far. Top official sources confirmed that there are practical issues that must be resolved before handing over the airport to an international party.

    One major concern revolves around the national flag carrier, Pakistan International Airlines (PIA), which has defaulted on various airport facilities. Even if the government were to assume PIA’s past liabilities, the new airport operator would face the challenge of providing free-of-cost facilities to the carrier.

    Furthermore, in Karachi and Lahore, certain sections of the airports are occupied by relevant agencies, necessitating a permanent solution to enable potential investors to utilize the entire airport for commercial purposes. The Airport Security Force (ASF) also poses an obstacle to completing the transaction smoothly.

    It remains to be seen how the government will address these challenges. Sources indicate that the government is exerting all efforts to outsource New Islamabad International Airport before the end of its tenure in the second week of August 2023. However, accomplishing this goal within the given timeframe appears to be a challenging task.

  • ‘He understands what is comfortable for a woman’: Kajol confirms Shah Rukh is a gentleman

    ‘He understands what is comfortable for a woman’: Kajol confirms Shah Rukh is a gentleman

    Every 90s kid knows Shah Rukh Khan and Kajol will remain the OTP.

    And now, Kajol has confirmed what we already know, that the Badshah remains a charming guy even behind the cameras.

    The Indian Express reported that Kajol opened up about the process of shooting their iconic song 1995 ‘Jaati Hoon Main’, Kajol recalled how she was clueless about the song design, doing only what she was asked to do.

    Khan helped ease her into the song, being aware of what women were comfortable to do and what they didn’t want to do.

    “I had no clue what was being done. I was told before the shot ye karna, woh karna hai and I did just that. Bohot mushkil se kiya, lekin kiya. I would say one thing about Shah Rukh that he is still one of the most understanding costars because he understands what is uncomfortable for a woman to do and not to do and he tries his level best to make you most comfortable to do that.

    “I would say that he is the most understanding of actors that I have worked with in my whole (career). He really gets it, that, ‘This is not comfortable for her to do and it’s ok, I will figure a way out to make it as comfortable as possible,’” she gushed about the superstar.

    Our K3G self is sobbing our eyes out.

    Shah Rukh Khan is set to star in his daughter Suhana Khan’s debut venture, according to Pinkvilla. The movie will reportedly be produced by Siddharth Anand, the creator of SRK’s Pathaan, who will also be directing Tiger vs Pathaan.

    Meanwhile, Kajol is set to make her on-screen comeback with Netflix’s ‘Lust Stories 2’.

  • Pakistan receives second shipment of discounted Russian crude oil

    Pakistan receives second shipment of discounted Russian crude oil

    On Tuesday, the second shipment of discounted Russian crude oil, comprising a total of 55,000 tonnes, reached the Karachi port.

    The vessel carrying Urals oil, named ‘Clyde Noble’, had been en route to the port of Karachi in the Arabian Sea, according to earlier reports from reliable sources. Once the ship’s berthing plan is finalized, it will be docked at the oil pier.

    An insider from the oil industry had previously informed The News that the vessel was expected to reach Karachi Port by Tuesday. Originally scheduled to arrive on June 20, the second cargo faced a one-week delay due to limited storage space in the tanks of Pakistan Refinery Limited (PRL).

    The PRL, being the first domestic refinery to receive crude oil from Russia under the government-led deal, encountered logistical challenges.

    Pakistan had received its initial shipment of Russian crude oil on June 12 when a tanker carrying 45,000 tonnes of crude oil docked at the Karachi port. The government had placed an order of 100,000 tonnes of Russian crude oil in April of this year after months of negotiations with Moscow to finalize the terms and conditions of the agreement.

    As per the terms of the deal, Russia dispatched the first oil tanker carrying 100,000 metric tonnes of crude, which arrived at the Omani port earlier this month.

    However, due to the Pakistani port’s limitations in handling heavy ships carrying over 50,000 tonnes of oil cargo, it was decided to transport the crude to Pakistan using smaller vessels.

    It is noteworthy that the vessel, loaded with Ural crude on April 21 at a Russian port, faced a 10-day delay due to technical issues. Subsequently, it reached Egypt’s Suez Canal on May 17, where it endured a 12-day wait in a lengthy queue before crossing the canal.

    Currently, Pakistan imports 70 per cent of its crude oil, which is refined by PRL, National Refinery Limited, Pak Arab Refinery Limited, and Byco Petroleum. The remaining 30 per cent is domestically produced and refined by Attock Refinery Limited.

    To meet the demand for petroleum products, PRL is presently in the process of refining the Russian crude oil, blending it with Arabian crude that arrived a few days ago following a PRL order.

  • Ahmedabad will host India vs Pakistan World Cup match, ICC reveals schedule

    Ahmedabad will host India vs Pakistan World Cup match, ICC reveals schedule

    Ahmedabad is set to host the all-important India vs Pakistan World Cup, as International Cricket Council (ICC) has revealed the schedule for the mega event.

    The Cricket World Cup 2023 will be held in 10 venues across 46 days later this year.

    The World Cup kicks off on October 5 with a repeat of the 2019 Final as England take on New Zealand at the Narendra Modi Stadium in Ahmedabad.

    Hosts India begin their campaign on October 8 against five-time World Cup winners Australia in Chennai.

    A total of 10 teams will participate in the showcase event, the first eight having already qualified through the Cricket World Cup Super League. The final two spots will be determined at the end of the Qualifier tournament in Zimbabwe, which concludes on July 9.

    Each team plays the other nine in a round-robin format with the top four qualifying for the knockout stage and semi-finals.
    Key Fixtures

    The much-anticipated India-Pakistan clash is scheduled for Sunday, October 15 in Ahmedabad. Their last encounter in the 2019 World Cup was a high-scoring affair with India achieving a huge victory in Manchester.

    Pakistan will face Australia in Bengaluru on October 20, while England clash against South Africa the next day in Mumbai.
    The final group stage match will be England up against Pakistan in Kolkata on November 12.

    Knockout Stages

    The first semi-final will be held on Wednesday, November 15 in Mumbai, and the second semi-final will be held the following day in Kolkata. Both semi-finals will have a reserve day.

    The final will take place at the Narendra Modi Stadium in Ahmedabad on November 19, with November 20 slated as the reserve day.

    All three knockout fixtures will be day-night affairs, with the matches beginning at 14:00 local time.

    Tournament Venues

    There will be a total of 10 venues – Hyderabad, Ahmedabad, Dharamsala, Delhi, Chennai, Lucknow, Pune, Bengaluru, Mumbai, and Kolkata.

    Guwahati and Thiruvananthapuram, in addition to Hyderabad, will host the warm-up matches from 29th September to 3rd October.

    Pakistan’s World Cup schedule:

    Pakistan vs Qualifier, Oct 6, Hyderabad

    Pakistan vs Qualifier, Oct 12, Hyderabad

    Pakistan vs India, Oct 15, Ahmedabad

    Pakistan vs Australia, Oct 20, Bengaluru

    Pakistan vs Afghanistan, Oct 23, Chennai

    Pakistan vs South Africa, Oct 27, Chennai

    Pakistan vs Bangladesh, Oct 31, Kolkata

    Pakistan vs New Zealand, Nov 4, Bengaluru

    Pakistan vs England, Nov 12, Kolkata

  • India agrees with Pakistan: Pasoori remake is terrible

    India agrees with Pakistan: Pasoori remake is terrible

    These last two days will probably go down in history as the only time Pakistan and India combined forces to take on the urgent matter of Bollywood taking up classics and destroying them.

    On Monday, T-Series released their own version of Coke Studio’s massive global hit ‘Pasoori’, giving credit solely to Ali Sethi, excluding Shae Gill and Xulfi even though they had an equal part to play in making the song what it is today.

    The new version is sung by Arijit Singh, and even though for Pakistanis it’s like kisi ne dil par pathar mara hai, across the border the verdict has been announced: they can’t feel the new version either.

    Jo bacha ab Pakistan Studies agay ja kar parhay ga, it wasn’t peace talks or Fawad Khan’s smolder that got India and Pakistan to unite, it was the utterly incompetent T-Series.

    It’s confusing for us as well

    Mubarakien maybe Pasoori can be called the song that finally united India and Pakistan together.