Blog

  • SBP governor says debt rollovers will ease Pakistan’s FY25 financial burden

    SBP governor says debt rollovers will ease Pakistan’s FY25 financial burden

    State Bank of Pakistan (SBP) Governor Jameel Ahmad assured the public on Wednesday that friendly nations will roll over nearly $16 billion of the country’s outstanding debt for the fiscal year 2025.

    This crucial support is expected to provide the government with significant breathing room amid ongoing financial challenges.

    In his testimony before the National Assembly Standing Committee on Finance and Revenue, chaired by MNA Naveed Qamar, Ahmad revealed that Pakistan’s total debt obligations for FY25 amount to $26.2 billion. Following the planned rollovers, the remaining debt to be settled by June next year will be reduced to $10 billion.

    Ahmad also highlighted that the central bank has already repaid $1.5 billion in debt last month, leaving an outstanding amount of $8.5 billion for the rest of the fiscal year.

    Secretary of Finance Imdad Ullah Bosal added that Pakistan is set to receive its first tranche from the International Monetary Fund (IMF) following the rollover of approximately $4 billion in Chinese commercial loans. Additionally, $4.4 billion is expected from the Asian Development Bank and the World Bank.

    The SBP Governor further stated that there is no immediate pressure on external payments, which should contribute to the stability of the Pakistani rupee. He projected that foreign exchange reserves could reach $13 billion by the end of the fiscal year.

    With improved economic conditions, further reductions in the policy rate are anticipated. However, he warned that inflation might rise to 13.5 per cent this fiscal year due to budgetary policies and energy price fluctuations.

    In his presentation, Ahmad outlined a comprehensive five-year plan to the Finance Committee. The plan focuses on restoring price stability, managing the current account deficit, ensuring that foreign exchange reserves cover three months of import needs, and achieving greater financial stability and transparency.

    He noted that GDP growth has been constrained to 3.5 per cent over the past decade and emphasised the need to boost exports by 10 to 15 per cent. Ahmad also assured that there are no restrictions on imports, aiming to foster a more balanced economic growth.

  • Atiqa Odho praises Saba Hamid’s stellar performance as ‘Noor Jahan’

    Atiqa Odho praises Saba Hamid’s stellar performance as ‘Noor Jahan’

    Renowned actress Atiqa Odho is all praise for veteran colleague Saba Hamid portrayal of the lead role in ‘Noor Jahan’.

    After episodes 20 and 21 aired this past weekend, Odho took to Instagram to highlight Hamid’s brilliance, calling it an “acting masterclass” for aspiring actors, noting how Saba’s controlled, silent expressions were truly captivating.

    “I’m so inspired watching my friend Saba Hamid in #NoorJahan. It’s a once-in-a-lifetime role, and what she has done with it is amazing. She mesmerizes with just her expressions! Well done!”

    She also encouraged new actors to view Saba’s performance as a valuable lesson in acting.

    Atiqa concluded with, “So proud of you, Saba.”

    Many of her Instagram followers agreed, praising Saba’s performance as well.

    ‘Noor Jahan’ features a strong cast, including Kubra Khan, Ali Rehman Khan, and Noor Hassan. Directed by Musaddiq Malek and written by Zanjabeel Asim Shah.

  • The government has only two months, Imran Khan predicts

    The government has only two months, Imran Khan predicts

    Founder of Pakistan Tehreek-e-Insaf (PTI) Imran Khan has predicted that the incumbent government, led by the Pakistan Muslim League-Nawaz (PML-N), will last only two more months.

    Inside Rawalpindi Adiala’s jail, the former Prime Minister told journalists, ‘’The government is plunging into a quagmire; however, the rulers are fools and unable to understand this.’’

    ’I am predicting this from prison that this government has only two more months.’’
    He also said he has enough time, but the incumbent rulers are running out of time.

    Earlier, Imran offered to negotiate with the stakeholders in power by selecting Chief Milli Awami Party (MAP) Mahmood Khan Achakzai from his side.

  • Why do Pakistanis want to leave their country?

    Why do Pakistanis want to leave their country?

    To understand the reasons, we first need to understand the accelerating crisis in Pakistan. A big number of people are trying to leave Pakistan as economic conditions worsen day by day. The country is drowning in debts.

    According to the Business Recorder, Pakistan’s external debt and liabilities have soared to 130.179 billion dollars in May 2024 and total public debt at the end of Mar 2024 was 67.525 trillion rupees. Plus Consultant, a research organization, says that 74 percent of Pakistanis cannot meet their expenditures.

    Economic stability comes with political stability. The country is facing political instability from inside and outside its borders. There is no political consensus on defining national interest and political rivalry creates more chaos.

    The impact of this situation can be seen in different social entities. Worst kind of intolerance is being observed in the society. An alarming situation for rapidly growing population and very limited opportunities. Conclusively, multiple factors linked to the economic and political instability in Pakistan are being observed the middle class. They try to find ways to avail opportunities available in the global market.

    According to Bureau of Immigration and Overseas Employment, 13.65 million skilled and educated people were working abroad till June 2024. Among those, 78185 are accountants, 36731 doctors, 10932 engineers, and 23027 teachers. 13 million of them went to Gulf countries. These are the registered number of employees. Remittances data shows that in the FY23, total remittances were 2187.1 million US dollars which increased to 3158.3 million US dollars in the FY24.

    This year, more than 700,000 people already left Pakistan for a better future. This number was 862625 and 832339 in the years 2023 and 2022 respectively. However, politicians consider overseas Pakistanis as an asset as they contribute a lot in the economy of Pakistan.

  • Azadi sale alert: Up to 50% off on stunning outfits and more

    Azadi sale alert: Up to 50% off on stunning outfits and more

    With the spirit of patriotism in the air, August 14– Pakistan’s Independence Day – is more than just a holiday. It’s a time to celebrate, reflect, and, of course, shop! Every year, businesses across the country roll out exciting discounts and special offers to mark this important day.

    Don’t miss out on these fantastic sales. If you haven’t caught them yet, we’re here to guide you.

    Cross Stitch
    Celebrate Independence Day in style with Cross Stitch’s Azadi Sale! Enjoy up to 50 percent off on a beautiful range of outfits. This is the perfect chance to enhance your look while celebrating our nation.

    Sveston Watches
    Step up your style with Sveston Watches! Get up to 59 percent off on your favorite watch until August 20. A great watch can complete any outfit, so don’t miss this opportunity to add some sophistication to your wardrobe.

    Ideas by Gul Ahmed
    Refresh your wardrobe without spending too much! Ideas by Gul Ahmed is offering up to 50 percent off on fashionable outfits, available both in stores and online. Take advantage of this limited-time offer to grab your favorite styles at great prices.

    Saya
    Get ready to impress with Saya this Independence Day! Enjoy a flat 30 percent off on their entire collection. This is a fantastic chance to upgrade your wardrobe with stylish new pieces.

    Diners
    Get ready to celebrate Independence Day with incredible savings at Diners! Enjoy their exclusive Independence Day Sale with amazing discounts on all your favorite outfits. For a limited time, take advantage of flat 20 percent and 30 percent off on entire collection.

  • Asad Shah charged in Fatima’s murder

    Asad Shah charged in Fatima’s murder

    An Anti-Terrorism Court in Khairpur has convicted four individuals in the case involving the death of a minor maid, Fatima Fariro, from last year. The convicted are Pir Asad Shah, Hina Shah, Pir Fayaz Shah, and Imtiaz Mirasi.

    The four offenders have been charged by the court in connection with Fatima’s murder that happened at Ranipur Haveli in Ranipur village near Khairpur city in Sindh province.

    The hearing has been adjourned until August 12. The witnesses’ statements will be recorded at the next hearing.

    Background:

    On August 14, 2023, 10-year-old Fatima was allegedly tortured to death in a mansion in Ranipur.

    Pir Asad Shah, Fayaz Shah, Hina Shah, and Compounder Fayaz have been named as the main suspects in the murder case.

    The case of the young maid’s murder is currently under review in the anti-terrorism court in Khairpur.

    Main suspect Asad Shah was arrested after the case was highlighted, and a video revealing the girl’s suffering before her death was also released.

  • Saba Faisal shares how her relationship with her second daughter-in-law started improving

    Saba Faisal shares how her relationship with her second daughter-in-law started improving

     
    Veteran actress Saba Faisal has always been open about her personal life.
    Recently, she appeared as a guest on ‘Good Morning Pakistan,’ where host Nida Yasir asked, “Does a mother-in-law also need to prepare herself before the wedding takes place?”
    Discussing her son’s first marriage,

    Faisal said, “I was so excited about my elder son’s wedding that I ignored preparing myself for my new role as a mother-in-law. My mistake caused problems with my daughter-in-law, but we worked things out and our family is happy again.”
       
    Reflecting back on her own experience, the Sultanat actress said, “Women should prepare themselves before welcoming a new member from a different background. I learned this with my second daughter-in-law. I had expectations from my elder daughter-in-law, Neha, to manage the household like I did, which was wrong. But eventually, things settled down.”

  • Which Pakistani cricketer is behind Sri Lanka’s historic win against India?

    Which Pakistani cricketer is behind Sri Lanka’s historic win against India?

    On Tuesday, Sri Lanka defeated India in an ODI series after 27 years. Sri Lanka won the three-match series with a 2-0.

    The first match between India and Sri Lanka was a nail-biting tie. In this match, Sri Lanka played first and scored 230 runs while losing eight wickets. In response, India needed just one run off five balls with two wickets in hand, but the match took a dramatic turn as both wickets fell without scoring any runs.

    In the second match, Sri Lanka defeated India by 32 runs, while in the last match, they defeated India by 110 runs.

    Sri Lankan bowlers were a nightmare for Indian batters throughout the series. They were a step ahead of the batsmen. Sri Lankan spinners, especially Dunith Wellalage and Jeffrey Vandersay, were outstanding.

    All credit should go to the coach, right? Interestingly, Pakistan’s former cricketer, Aqib Javed was their bowling coach. He was appointed as bowling coach of the Sri Lankan cricket team in March this year before the T20 World Cup 2024.

    He is associated with the Pakistan Super League (PSL) franchise Lahore Qalandars.

    From 1988 to 1998, he played 22 Test matches and 163 One-Day Internationals for Pakistan. He was also on the Pakistan team that won the 1992 Cricket World Cup.

  • Boy steals mother’s jewellery to gift iPhone to girlfriend

    Boy steals mother’s jewellery to gift iPhone to girlfriend

    A ninth-grader boy in India stole his mother’s gold jewellery to gift his girlfriend an iPhone for her birthday.

    The incident occurred in the Najafgarh area of the Indian capital, New Delhi, as per Indian media.

    The police said that on August 3, the woman filed a complaint stating that on August 2, between 8 a.m. and 3 p.m., an unknown person stole two gold chains, gold earrings, and a gold ring.

    During the investigation, the CCTV footage showed no one entering the house or leaving.

    However, the police then turned the scope of the investigation inside the house and found that one of the woman’s sons was missing.

    The investigation team then started gathering information about the boy and questioned his school friends.

    The boy’s friends told the police that he had a close friendship with a girl in his class and that the two liked each other.

    The investigation team then learned that the woman’s son had bought a new iPhone worth Rs 50,000. The team conducted several raids to search for the boy, but each time he managed to escape from the scene.

    “We received a tip-off on Tuesday that the boy would come home around 6 pm.

    However, as soon as he came home, he was taken into custody, and later, an iPhone was recovered from his possession,” the police stated.

    The young boy is a student in class 9 and studies in a private school in Najafgarh.

    The investigation further revealed that the boy had asked his mother for money to buy a gift on his girlfriend’s birthday, but due to her limited resources, the mother refused to give him the money.

    Enraged at the refusal, the boy stole the gold ornaments from the house, sold them to a goldsmith, and bought an iPhone.

    Delhi police have arrested the goldsmith and recovered the woman’s jewellery.

  • It is law: President approves bill restricting ‘lawmakers’ from changing parties

    It is law: President approves bill restricting ‘lawmakers’ from changing parties

    President Asif Ali Zardari has approved the Election Act Amendment Bill 2024, which aims to restrict independent lawmakers from changing parties.

    According to Geo News, the bill has been sent to the Senate Secretariat for official notification today.
    The approval comes when the Election Commission Pakistan (ECP) and Pakistan Tehreek-e-Insaf (PTI) have approached the Apex Court regarding the decision on reserved seats.
    The bill proposes that if a candidate does not submit a declaration of his affiliation with a political party to the returning officer (RO) before seeking allotment of the election symbol, they shall be “considered as an independent candidate and not a candidate of any political party.’’

    It further states that if a political party fails to submit its list for reserved seats within a prescribed time, it will not be eligible for reserved seats.
    Lawmakers also cannot change to another party after joining one within three days of winning the election.