Category: Uncategorized

  • Court summons Maryam Nawaz for insulting ‘state institutions’: report

    Court summons Maryam Nawaz for insulting ‘state institutions’: report

    An additional sessions court in Sukkur sent a notice to Pakistan Muslim League-Nawaz (PML-N) Senior Vice-President Maryam Nawaz on Wednesday, summoning her on March 10 over allegations of insulting “state institutions”, reports Geo News.

    Pakistan Tehreek-e-Insaf’s (PTI) District President Zaheer Muhammad filed a petition in the court, seeking registration of a case against the PML-N leader under section 22-A and 22-B.

    The petition filed against Maryam stated that she spoke against institutions in her speech. It added that she tried inciting people towards revolt against the institutions.

    “That proposed accused Maryam Nawaz Sharif addressed the people of [Sargodha] and cued the alleged pictures included ex-Inter Services Intelligence (ISI) chief Lieutenant General (retd) Faiz Hamid, former chief justice Asif Saeed Khosa, Justice (retd) Saqib Nisar, and presently two sitting Supreme Court judges who are part of a top court bench hearing a suo motu case to determine who has the constitutional responsibility and authority to announce the date for elections in Punjab and Khyber Pakhtunkhwa,” the plea read.

    In his application to the court, the petitioner stated that the PML-N stalwart “addressed hate speech with the intention to provoke the general public to spread hate and chaos against the highest state institutions”.

    It mentioned that the petitioner approached the FIA director to lodge a first information report (FIR) against Maryam, but he first “kept the applicant in hallow hopes and then clearly refused”.

  • SBP jacks up policy rate by 300 bps to 20%

    SBP jacks up policy rate by 300 bps to 20%

    In a meeting held today, the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) increased the policy rate by 300 basis points (bps) to 20 per cent as a measure to curb inflationary pressure.

    The meeting’s result matched the market’s predictions, with analysts expecting the State Bank of Pakistan’s Monetary Policy Committee to implement a significant hike of 200-300 basis points.

    During today’s meeting, the MPC acknowledged that recent fiscal adjustments and depreciation of the exchange rate have resulted in a significant deterioration of the near-term inflation outlook. This has also led to an increase in inflation expectations, as indicated by the latest survey results.

    The committee anticipates that inflation will continue to rise in the coming months due to the impact of these adjustments, before gradually decreasing. The projected average inflation rate for this year is now estimated to be between 27 per cent to 29 per cent, compared to the November 2022 projection of 21 per cent to 23 per cent. Given this context, the MPC stressed the importance of stabilizing inflation expectations and implementing strong policy measures.

    On the external front, the MPC acknowledged that while there has been a substantial reduction in the current account deficit (CAD), there are still some vulnerabilities present. In January 2023, the CAD decreased to $242 million, the lowest level since March 2021.

  • ‘Feel embarassed’: Khan reacts to Amjad Shoaib’s photo in lock up

    ‘Feel embarassed’: Khan reacts to Amjad Shoaib’s photo in lock up

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said that he felt “embarrassed as a Pakistani to witness the depths” the country has “sunk to” due to the “imported regime of a cabal of crooks and their handlers”.

    His comments came in reference to a photograph of defence analyst Lieutenant General (retd) Amjad Shoaib in a police cell, which went viral on social media platforms.

    “In desperation to cling to power and muzzle all dissenting voices, they have jailed a respected, patriotic Pakistani on sedition charges,” tweeted the PTI chief. 

    Shoaib was arrested by Islamabad police after a first information report (FIR) was registered against him on February 25 at Islamabad’s Ramna Police Station.

    According to the FIR, filed on the complaint of Islamabad Magistrate Owais Khan, the former army officer incited people to revolt against institutions and attempted to provoke disharmony and anarchy and create a law and order situation in the country through controversial statements he made on a TV show.

    In the complaint, Magistrate Khan said that the retired general — in an interview on BOL TV’s show ‘Imran Khan Bol Kay Saath’ aired on Saturday — passed statements that “incited government officials and Opposition from performing their government and legal duties”.

  • Pakistani rupee drops by more than Rs18 against US dollar due to delay in IMF deal

    Pakistani rupee drops by more than Rs18 against US dollar due to delay in IMF deal

    Pakistani rupee (PKR) experienced a significant decline of over Rs18.8 against the US dollar in the interbank market during intra-day trade, ahead of the monetary policy review and delay in the International Monetary Fund (IMF) deal.

    At approximately 11:40 am, the greenback was being traded at Rs285 against the local currency, compared to its previous day’s closing of Rs266.11.

    Zafar Paracha, the General Secretary of ECAP, expressed concern over the delay in the agreement with IMF and the lender’s demand to peg the currency rate with that of the grey market, which has resulted in market uncertainty.

    In his opinion, the current rate is too high and should not have risen to this extent. He also noted that the greenback was being traded at Rs290 in the grey market a day earlier.

    Adnan Asghar, a currency market expert, stated that the delay in the deal between Pakistan and the IMF has contributed to the depreciation of the rupee.

    He added that the uncertain political situation has also been a factor in the decline of the rupee’s value. Asghar warned that the country is approaching a default situation due to this delay.

  • Inflation in Pakistan reaches nearly 50-year high, raising concerns for citizens

    Inflation in Pakistan reaches nearly 50-year high, raising concerns for citizens

    Pakistan’s inflation, as measured by the consumer price index (CPI), surged to a record-breaking 31.5 per cent in February, largely driven by steep price hikes in food, housing, and transportation groups. This concerning development was recently reported by the Pakistan Bureau of Statistics (PBS), and has heightened expectations of an increase in interest rates during the upcoming monetary policy committee (MPC) meeting, which the central bank has scheduled for March 2.

    The February inflation rate marks the highest figure since available data dating back to July 1965, surpassing the previous record of slightly over 29 per cent in April 1975. The unexpected pace of price increases has surpassed the finance ministry’s expectations, who had projected an inflation range of 28 per cent to 30 per cent just a day before the report.

    According to Geo, the monthly inflation rate surged by 4.3 per cent in February compared to January, primarily due to increased average prices of food items such as poultry, fruits, pulses, oil, vegetables, ghee, LPG, gas charges, and domestic petroleum products.

    The inflation reading raises concerns that the government will need to review its strategy to secure the critical $1.1 loan tranche from the International Monetary Fund (IMF). Despite repeated efforts, the government has been unable to regain lost ground with the IMF and is continually delivering financial shocks to the people.

    According to PBS, the inflation rate rose in both urban and rural areas. Urban inflation increased to 28.8 per cent in February, while rural inflation soared to 35.6 per cent compared to the same month last year. In February of the previous year, urban inflation was recorded at 11.5 per cent, while rural inflation was at 13.3 per cent.

  • Malala Yousafzai: ‘Activism needs to go beyond just working with an NGO’

    Malala Yousafzai: ‘Activism needs to go beyond just working with an NGO’

    Social activist and film producer Malala sat down with Joyland screenwriter and director Saim Sadiq for an interview on Sky News, where she spoke about the reason that prompted her to become a producer for the film. The Nobel Prize winner revealed that storytelling was an important part of activism:
    “In my next phase of activism, I have to look at other means of storytelling as well. Activism needs to go beyond just working with an NGO. We need to find other ways in which we challenge the social norms that deny women their basic rights.”

    Yosafzai also reflected on why it was important that the main character of the film, Biba, was played by the trans actress Alina Khan, so that the story could accurately reflect the plights of the trans community.

    “The screen helps us to connect with people and really helps us to be more tolerant with others. I was so grateful that Saim made sure that the trans role is played by a trans woman. This was critical. Everyone’s story is important and it deserves to be told by them. And a trans person should be given the rights that everyone else is given,” she said.

    The Nobel laureate said that it was unfortunate that we don’t want people to talk about issues and don’t want these stories to make it to the screen. “I hope we can challenge that,” she stated.

    The ban on ‘Joyland’ came up in the discussion when director Saim Sadiq reflected back on how the film ‘‘turned out to be a big act of resistance.”
    “I realised when the film was being released, that there are a lot of people who are very uncomfortable with just the existence of this film,” he said.

    “Banning the film is perhaps the fastest way to make activism work and to get everybody to talk about the issues we want them to talk about.”

  • Pakistan’s finance ministry predicts high inflation to persist

    Pakistan’s finance ministry predicts high inflation to persist

    As per the Finance Ministry’s monthly economic update and outlook for February, inflation is projected to range from 28 per cent to 30 per cent in the near future, before gradually subsiding. The report cites several reasons for this, including an uncertain political and economic environment, currency depreciation, a recent increase in energy prices, and higher administered prices.

    The report notes that interest payments will contribute to total expenditures, constraining the fiscal space available for normal operations, investments, and social and structural policies.

    While the State Bank of Pakistan (SBP) has been implementing a contractionary monetary policy, it is expected that inflationary pressures will take some time to ease. The federal government, in collaboration with provincial governments, is closely monitoring the demand-supply gap of essential commodities and taking necessary measures to stabilise prices.

    The resumption of an economic stabilization program will aid in achieving economic and exchange rate stability and provide an opportunity to benefit from falling international commodity prices. This will also help control cost-push inflation and allow the government to pass on lower commodity prices to domestic consumers.

    The report notes that favorable weather and the use of inputs by farmers should help meet the 28.4 million-ton wheat target, while disbursements under the Kissan package should positively impact agricultural productivity and overall economic activity. The cyclical pattern of large-scale manufacturing (LSM) in Pakistan is positively correlated with the cyclical position of the country’s main trading partners. In December 2022, LSM activity was as expected, with no unexpected shocks observed in that month.

    However, the international economic environment remains uncertain, as evidenced by the Composite Leading Indicators (CLI) in Pakistan’s main export areas, which were somewhat negative compared to historical standards.

    The ministry anticipates that LSM will increase in January compared to the previous month, partly due to seasonal factors. The ministry forecasts that LSM output may marginally decline on a YoY basis, mainly due to the high base effect in the reference period

  • FIA registers Rs849m money-laundering case against Farah Gogi

    FIA registers Rs849m money-laundering case against Farah Gogi

    The Federal Investigation Agency (FIA) has registered a money-laundering case worth Rs849 million against Farhat Shehzadi aka Farah Gogi, a close aide and friend of former First Lady, Bushra Bibi, Geo News has reported.

    The money-laundering and kickbacks case was sent to FIA by the Anti-Corruption Establishment (ACE).

    The first information report (FIR) says that unusual transactions worth millions were found to have taken place in Farah Gogi’s accounts, allegedly through corruption and bribery. The money was then sent out of the country.

    The FIR also states that the money was made through transfers of government officials including deputy commissioners and police.

    Gogi allegedly also used her influence in the awarding of government contracts including one contract worth Rs80 million via the XEN of Sheikhupura, receiving kickbacks in the deal.

  • PTI welcomes supreme court’s verdict while govt says it doesn’t require review

    PTI welcomes supreme court’s verdict while govt says it doesn’t require review

    Political parties from across the spectrum are reacting to Supreme Court’s (SC) verdict in the Punjab and Khyber Pakhtunkhwa (KP) elections suo moto case.

    Pakistan Tehreek-e-Insaf (PTI) Fawad Chaudhry welcomed the verdict, saying, “It’s a victory for the Constitution”.

    The Supreme Court, the PTI leader added, has bound the federation to provide all sorts of support with security and provision of funds for carrying out polls.

    When asked whether elections will happen on April 9, as earlier suggested by President Arif Alvi, he responded by saying that the Election Commission of Pakistan (ECP) proposed in court that the commission can make the elections possible on April 25.

    He also said that if the government doesn’t agree to the SC’s verdict, the top court will send the government home under Article 187.

    He also added that all five judges endorsed the principle of the election within 90 days. During a media talk, the PTI leader stressed that “Election is the foundation of the state.”

    On the other hand, Awami Muslim League Chief Sheikh Rashid congratulated the nation on the verdict and asked the country to “prepare for the elections”.

    He hoped that PTI is going to form governments in KP and Punjab

    From the government side, Federal Law Minister Azam Nazeer Tarar said that there is no need to review the decision of the Supreme Court’s verdict, nor is it a matter that requires interpretation.

    He said that petitions are still being heard in High Courts, and the interpretation of the decision can also be seen there.

    He also stressed that the verdict is quite clear. However, the law minister took a jibe at President Alvi, saying that he breached the constitution by giving a date for the elections in both provinces.

    Earlier today (Wednesday), the top court directed all relevant authorities to hold elections within 90 days.

    The decision was passed three-two in favour of the verdict by the five-member bench, with Justice Mansoor Ali Shah and Justice Jamal Khan Mandokhail giving dissenting notes.

  • Man jailed for slapping wife during live TikTok video

    Man jailed for slapping wife during live TikTok video

    A Spanish man who slapped his wife on a live TikTok video was sentenced to a year in jail on Monday. However, the victim had declined to file a complaint against him.
    The man was found guilty of violence against women by a court in the northern city of Soria, with the court barring him for three years from getting a gun and from being within 300 meters (1,000 feet) of his wife or contacting her.
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    Images of the husband striking his wife in the face so forcefully that she turns around and starts crying went viral in Spain.

    The incident occurred in the early hours of January 28 during a TikTok “battle” between the woman and three men. TikTok “battle” is a real-time competition amongst streamers where the winner is chosen by viewers.

    “The defendant assaulted his wife publicly and openly, in front of thousands of people, with the aim of undermining her physical integrity and humiliating her in public,” the court ruled.