Author: newsdesk

  • Japanese car companies consider establishing hybrid vehicle plants in Pakistan

    Japanese car companies consider establishing hybrid vehicle plants in Pakistan

    Japan has urged Pakistan to allow the import of manufacturing equipment for vehicles due to the shortage of dollars, which has affected the issuance of letters of credit to Japanese companies operating in the country.

    Japanese firms are considering the establishment of hybrid vehicle plants in Pakistan, with plans to export the vehicles from the country in the future.

    During a meeting between Ambassador Wada Mitsuhiro and Finance Minister Senator Ishaq Dar at the Finance Division, the Ministry of Finance issued an official statement. The Vice Chairman of Toyota, Shinji Yanagi, SAPM on Finance Tariq Bajwa, finance secretary, and senior officers were also in attendance.

    The finance minister briefed the envoy on the economic challenges and priorities of the government and emphasized that Japan is one of its major development partners. The cooperation between the two countries will strengthen in multiple fields for mutual benefit. The finance minister also welcomed the investment plans of Japanese companies in Pakistan.

    Ambassador Mitsuhiro praised the government’s pragmatic policies and actions and expressed confidence in the country’s economic policies. Meanwhile, a World Bank delegation led by Mamta Murthi, Vice President of the World Bank for Human Development, met with Dar at the Finance Division.

    Murthi emphasized the importance of investing in human capital, particularly in education, health and nutrition, social protection, population control, and women’s development. She also highlighted the importance of local ownership and community participation in implementing development projects.

    The finance minister briefed Murthi on the government’s policies and programs related to key areas of human development to uplift the masses and eliminate poverty in the country. He expressed the government’s commitment to work with the World Bank to achieve their shared goals of sustainable development in Pakistan.

  • Historic high: Gold price in Pakistan soars to record-breaking Rs225,300 per tola

    Historic high: Gold price in Pakistan soars to record-breaking Rs225,300 per tola

    Pakistan’s economic turmoil and an increase in international gold rates have led to a new high in the value of the precious metal in the country.

    According to data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of gold (24 carats) surged by Rs2,600 per tola and Rs2,229 per 10 grams to reach Rs225,300 and Rs193,158, respectively.

    The price of gold in the international market also rose by $29 to settle at $2,044 per ounce. In Pakistan, the rising gold rate is a consequence of weakened economic fundamentals, rupee depreciation, and record-high inflation.

    During such times, people prefer to buy gold as a hedge against inflation and currency depreciation. Furthermore, the delay in an agreement with the International Monetary Fund (IMF) for a much-needed economic bailout has led to increased demand for gold as it negatively impacts the currency market.

    The APSGJA also revealed that the price of gold is Rs2,500 per tola “undercost” in Pakistan as compared to the Dubai market, indicating that the Pakistani gold market is currently cheaper than the global market.

    Finally, the rate of silver also increased to a new high in the country, with the rate of silver rising by Rs120 per tola and Rs102.88 per 10 grams to settle at Rs2,870 and Rs2,357.68, respectively.

  • Islamabad High Court provides relief to Khan, extends bail

    Islamabad High Court provides relief to Khan, extends bail

    The Islamabad High Court (IHC) on Thursday approved an extension in Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s bail in nine different cases.

    The former Prime Minister appeared before the court after travelling from Lahore to Islamabad amid tight security as a warning from the court of bail revocation over his continuous absence loomed ahead.

    Khan entered the court in a wheelchair. On the previous day, his doctors had advised him to bed rest, citing insufficient healing of his injured leg.

    Earlier in the day, the PTI chief revealed in a video message that he was the target of a second murder attempt on March 18 in the judicial complex in Islamabad.

    In a video message, the former Prime Minister said, “If anything happenes to me, I believe Dirty Harry and his gang will be responsible,” adding that he is not under threat by an outside enemy.

  • Wes Anderson in DI Khan? Believe it (or not)

    It’s true that there are a lot of reasons to be miserable in Pakistan right now: inflation, political instability, religious conflicts, the list keeps going.

    But it’s heartwarming to witness how talented Pakistani people are that they keep blowing us away with their creativity and sense of humor, such as a new trend that is re-imagining what Wes Anderson films would look like if instead of the West, they were shot in Pakistan.

    A social media user reimagined how Anderson’s film would look like in a village in Dera Ismail Khan.

    The result: mindblowing.

    Another video that kick started the trend was when a man decided to re-imagine how the iconic Hollywood director’s film would be shot if he landed in Chitral-and seriously we would love to pitch these ideas ourselves to Anderson.

    Twitter users are blown away by the creativity and honestly we agree with all of them. Let’s start calling directors like Martin Scorsese and Quentin Tarantino to Pakistan!

    https://twitter.com/percyakr21/status/1653496868134088704?s=20
  • Supreme Court judges get three-month summer holidays

    Supreme Court judges get three-month summer holidays

    Chief Justice (CJ) Umar Ata Bandial has approved a three-month summer vacation for all the judges in the Supreme Court of Pakistan.

    The holidays will start from June 15 and last till September 15.

    However, the notification for the vacations said that urgent cases will continue to be heard during these holidays. In the last three years, important cases were heard during this period.

    Currently, the apex court is hearing the matter of Punjab elections as the divide between judges becomes more apparent.

  • Jameela Jamil slams celebrities for attending Met Gala that honoured controversial designer Karl Lagerfeld

    Activist and actress Jameela Jamil took to Instagram to publicly slam the celebrities who attended this year’s Met Gala, where late German fashion designer Karl Lagerfeld- who was a controversial figure for his many sexist and racist comments- was honoured.

    Lagerfeld had been outspoken against allowing curvy women to pose for magazines or model, in response to women’s magazine ‘Bridgette’ when the publication announced that they would only publish pictures of real women instead of models:

    “You’ve got fat mothers with their bags of chips sitting in front of the television and saying that thin models are ugly. The world of beautiful clothing is about ‘dreams and illusions’.”

    Lagerfeld had also been a vocal opponent of the #MeToo movement, speaking to Numero in 2018 after three models accused the creative director of Chanel of sexual harassment:

    “If you don’t want your pants pulled about, don’t become a model! Join a nunnery, there’ll always be a place for you in the convent.”

    Jamil criticised the celebrities who had been vocal about social issues like #MeToo movement and body positivity for refusing to call out the controversial legacy of the late ‘Chanel’ fashion designer:

    “Last night Hollywood and fashion said the quiet part out loud when a lot of famous feminists chose to celebrate at the highest level, a man who was so publicly cruel to women, to fat people, to immigrants and to sexual assault survivors. And all the women’s publications, and spectators online, chose to gleefully ignore it. Suddenly your appetite to find someone’s tweets from when they were 12, has gone.”

    The ‘Good Place’ actor went on to share that the selective cancel culture within liberal politics needs to stop, because it further erodes the trust people have in progressive politics that it will actually make a difference in the world:

    “This isn’t about cancel culture. Its not even about Karl. It’s about showing how selective cancel culture is within liberal politics, in the most blatant way so far. It’s about showing why people don’t trust liberals. Because of slippery tactics and double standards like this.”

  • IMF demands approval for subsidies as Pakistan struggles to secure tranche

    IMF demands approval for subsidies as Pakistan struggles to secure tranche

    Pakistan has been negotiating an agreement with the International Monetary Fund (IMF) since January 2023. The IMF has specified that Pakistan must receive prior approval before providing any additional subsidies.

    Negotiations have hit a snag over a plan announced by Prime Minister Shehbaz Sharif in March to charge wealthy fuel consumers more to subsidise prices for the poor who have been severely impacted by inflation.

    Despite meeting almost all of the Fund’s conditions, the government is struggling to convince the lender to release the tranche. On a separate issue of securing confirmation on the external financing gap of $5 billion by June 2023, the Kingdom of Saudi Arabia and the United Arab Emirates have provided over $2 billion and $1 billion respectively.

    The formal agreements with these countries are expected to be signed soon. The Pakistani authorities are complaining that the IMF has placed prior actions before signing the staff-level agreement, which was not done in the past.

    According to The News, the IMF asks for confirmation from commercial banks before signing the agreement, while banks are asking for IMF’s board approval and the revival of the Fund program to refinance loans worth $2-3 billion.

    Finance Minister Ishaq Dar has assured US diplomat Andrew Schofer that the government is committed to completing the ongoing IMF program.

  • Loneliness as dangerous to health as smoking 15 cigarettes a day: US Surgeon General

    Loneliness as dangerous to health as smoking 15 cigarettes a day: US Surgeon General

    The Surgeon General of the United States of America (USA), Vivek Murthy, has said that loneliness poses a health risk equivalent to smoking 15 cigarettes a day. He made the comments while talking to the BBC regarding the prevalence of loneliness in the US.

    Murthy – one of the highest ranking health officials in the country-said that the problem affects nearly half of all Americans and he has also experienced it himself.

    He urged US health authorities to treat loneliness as seriously as they treat obesity or drug abuse.

    “I had neglected my family and my friends during that time, thinking that it was too hard to focus on work, and focus on family and friends,” said Murthy while talking about his own experience.

    “I was really suffering from the consequences of that, which were a profound sense of loneliness that followed me for weeks, which stretched into months,” he added.
    Experiencing loneliness has been linked to a significant increase in the chances of premature death, by up to almost 30 per cent. This increased risk is associated with various health problems such as diabetes, hearts attacks, insomnia, and dementia.

  • ICC ODI rankings; Pakistan just two wins away from becoming Number 1

    ICC ODI rankings; Pakistan just two wins away from becoming Number 1

    Pakistan beat New Zealand in the third encounter of One-Day International ternational (ODI) series against New Zealand last night and is now aiming to win the next two thrillers on Friday and Sunday so that they can vault from third to first spot on the ICC ODI Team Rankings.

    Imam-ul-Haq and Babar Azam stitched together a ninth century-partnership, also breaking the famous record of Muhammad Yousuf and Younis Khan’s partnership as Pakistan defeated New Zealand by 26 runs to take an unassailable 3-0 lead in the five-match series. At this time Pakistan is on number three in the rankings and just two wins away from the number one position.

    The two lads added 108 runs for the second wicket off 121 balls as Pakistan, put into bat, posted 287 for six on a slow surface. New Zealand capitulated after a solid and positive 83-run first wicket stand to be bowled out for 261 in 49.1 overs.

    With the series in their pocket 3-0 their first against New Zealand after 12 years Pakistan is super charge all eyes on Imam, Babar and Fakhar to take the team on the top of the ODI rankings now Pakistan have 3,133 points with 112 ratings in ODI rankings after the remaining Two wins they will white wash New Zealand first time and also make the history by becoming number 1 ODI team first time ever.

    Imam and Babar were dismissed in identical ways – both dragging Matt Henry and Adam Milne’s deliveries onto their stumps. Imam was the fourth batter dismissed after scoring a watchful 90 from 107 balls with seven fours and six, while Babar struck three fours and a six in his 62-ball 54.

    The two had joined hands after Fakhar Zaman, who earlier in the day was named as the number-two ranked ODI batter in the world, was back in the hut after scoring a 26-ball 19 with four fours.

    Mohammad Rizwan (32) and Salman Ali Agha (31) added 54 runs off 48 balls for the fifth wicket to give an impetus to the innings, which ended with a 10-ball 21 not out by Shadab Khan. The Pakistan vice-captain hit a four and two sixes, including a last-ball six.

    Pakistan scored 82 runs for the loss of two wickets in the last 10 overs, including 46 runs for two wickets in five overs.

    In their run-chase, New Zealand raced to 99 for one after 20 overs before Pakistan bowlers put the brakes on the scoring-rate, allowing New Zealand to score 92 runs in the next 20 overs. This meant the visitors needed 97 runs in the last 10 overs and despite fielding lapses. They managed only 70 runs to be dismissed for 261 in 49.1 overs.

    Opener Tom Blundell struck 78-ball 65 with seven fours featured in three useful partnerships. After adding 83 runs for the first wicket with Will Young (33), he added 30 runs from 40 balls for the second wicket with Daryl Mitchell (21) and 14 runs for the third wicket in 21 balls with Tom Latham (45).

    Debutant Cole McConchie scored 64 not out (45 balls, six fours, two sixes) and put on 25 runs (34 balls) for the sixth wicket with Latham, 31 runs (21 balls) for the seventh wicket with Adam Milne, 19 runs (14 balls) for the eighth wicket with Henry Shipley and 12 runs (9 balls) for the ninth wicket with Ish Sodhi.

    For Pakistan, Naseem Shah, Mohammad Wasim Junior and Shaheen Shah Afridi took two wickets apiece.

    Match Highlights

    Pakistan won by 26 runs, 3rd ODI.

    Pakistan 287-6, 50 overs (Imam-ul-Haq 90, Babar Azam 54, Mohammad Rizwan 32, Salman Ali Agha 31, Shadab Khan 21 not out; Matt Henry 3-54)

    New Zealand 261 all-out, 49.1 overs (Tom Blundell 65, Cole McConchie 64 not out, Tom Latham 45, Will Young 33, Daryl Mitchell 21; Naseem Shah 2-42, Mohammad Wasim Junior 2-50, Shaheen Shah Afridi 2-53)

    Player of the match – Imam-ul-Haq (Pakistan)