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  • Pakistan to retain stake in PIA amid privatisation efforts

    Pakistan to retain stake in PIA amid privatisation efforts

    Pakistan intends to retain a stake in the state-owned Pakistan International Airlines (PIA) to capitalise on its potential value increase following the airline’s sale, according to a report by Bloomberg.

    Usman Bajwa, Secretary at the Privatisation Commission, announced during a news briefing that the nation aims to finalise the bidding process within the next ten days. The privatisation agency plans to offer a minimum of 51 per cent of PIA’s shares to six pre-selected groups.

    PIA has struggled financially, failing to generate a profit for nearly two decades. This sale marks a significant step in the government’s broader strategy to implement economic reforms, which are part of the conditions set by the International Monetary Fund (IMF) for a bailout. Previous attempts to privatise the airline have been unsuccessful.

    In addition to PIA, Pakistan plans to divest from ten other state-owned entities, including power distribution companies, within the next year, as per the privatisation ministry.

    The government is also soliciting initial bids for the Roosevelt Hotel in New York, considering options such as an outright sale, joint venture, or long-term lease.

    Last month, Pakistan shortlisted six groups to bid for PIA, featuring prominent figures and conglomerates. These include tycoon Arif Habib and a consortium led by the Yunus Brothers Group. Pak Ethanol Pvt.’s consortium comprises Switzerland’s Swiss Aviation Group AG, Austria’s Airport Competence GmbH, and Australia’s Pearl Asset Management.

    This privatisation drive reflects Pakistan’s commitment to economic reform and stabilisation, aiming to attract investment and improve the financial health of its state-owned enterprises.

  • Curious about Hania Aamir’s marriage plans? Here’s the scoop

    Curious about Hania Aamir’s marriage plans? Here’s the scoop

    Hania Aamir, a popular figure in Pakistani entertainment known as the “dimple queen,” recently discussed marriage in an Instagram Q&A session. She emphasized that while marriage is important, she currently has no plans to tie the knot.

    During the session, Hania shared her admiration for singer Falak Shabir and actress Sarah Khan, naming them as her favorite celebrity couple. When asked about her own relationship status by a fan, she revealed, “I am happily single right now and not actively seeking a romantic partner.”

  • Pakistan aims for more than $6 billion IMF bailout, targets agreement this month

    Pakistan aims for more than $6 billion IMF bailout, targets agreement this month

    Pakistan is on track to finalise a staff-level agreement with the International Monetary Fund (IMF) for a bailout exceeding $6 billion by the end of this month, announced Junior Finance Minister Ali Pervaiz Malik on Wednesday.

    The country, grappling with escalating domestic dissent over new tax measures, has set ambitious revenue targets in its latest budget, aimed at securing IMF approval to avert an economic crisis.

    “We hope to conclude this IMF process within the next three to four weeks,” Malik stated, highlighting the urgency to reach a staff-level agreement before the IMF board’s recess. While estimating the bailout package to exceed $6 billion, Malik underscored that the IMF’s endorsement remains paramount at this juncture.

    Pakistan’s fiscal blueprint for the fiscal year starting July 1 includes a daunting tax revenue target of 13 trillion rupees ($47 billion), marking a nearly 40 per cent surge from the previous year.

    Concurrently, the government aims to slash the fiscal deficit to 5.9 per cent of the Gross Domestic Product (GDP) from 7.4 per cent in the preceding year.

    Malik defended the stringent budgetary measures, asserting that they were essential to pave the way for an IMF programme, which he claimed the lender had acknowledged positively during discussions. However, the anticipated budget approval from the IMF could exacerbate public discontent, analysts warn.

    “While these budget reforms may strain the local economy, the IMF programme prioritises economic stabilisation,” Malik affirmed.

    Economist Sakib Sherani, from the private firm Macro Economic Insights, highlighted the urgency of sealing a swift deal with the IMF to mitigate pressure on Pakistan’s foreign exchange reserves and currency, given impending debt repayments and the unwinding effects of earlier capital and import controls.

    “If delays persist, the central bank may need to temporarily reinstate import and capital controls, leading to a period of uncertainty with potential implications for equity markets,” Sherani cautioned.

    In conclusion, Pakistan’s pursuit of an IMF bailout underscores its efforts to stabilise its economy amidst mounting challenges, balancing economic imperatives with public sentiment.

  • Saba Qamar becomes KRQ’s latest target in hate-spewing spree

    Saba Qamar becomes KRQ’s latest target in hate-spewing spree

    Controversial screenwriter Khalil ur Rehman Qamar can’t stop himself from passing inane and negative comments about people in the industry. He has now declared that he will never work with leading actress Saba Qamar.

    Previously, the screenwriter had drawn controversy when he publicly refused to work with megastar Mahira Khan.

    During a recent podcast, the host asked Qamar if there was any actress he would never cast in his dramas. In response, Qamar explicitly mentioned Saba Qamar, stating that he would not cast her in any of his projects due to her choice of “vulgar” attire, which he believes is against his standards.

    “There is no doubt that Saba Qamar is an excellent actress and she performed brilliantly in one of my past dramas. However, her current choice of clothing is against our culture and my principles,” the playwright explained

    .
    He acknowledged that Saba Qamar’s wardrobe choices are her personal preference and that he has no issue with her liking them.
    However, he emphasized that he has the right to select actors for his projects based on his own criteria.

    The playwright further mentioned actors Humayun Saeed and Adnan Siddiqui as the actors he would like to work with repeatedly.

    Qamar has a long and ugly history of misogyny.

    In the past, he faced heavy criticism from the entertainment industry, including from Mahira Khan, for his inappropriate comments towards activist Marvi Sirmed during a TV program about the Aurat March. Qamar then vowed never to cast her in his dramas, saying he would not forgive her. Incidentally, the superstar has never asked for forgiveness from him.

    Similarly, during a show, Khalil ur Rehman called former model Iffat Omar a “bad woman.” In response, Iffat Omar challenged him to prove his statement

  • Taxali Gate wins big at LAFA 2024 for best thriller film

    Taxali Gate wins big at LAFA 2024 for best thriller film

    ‘TaxaliGate’, directed by Abu Aleeha, has won the prestigious Best Thriller Film award at the 2024 Los Angeles Film Awards (LAFA). The film, which received praise in Pakistan upon its release, is now gaining international acclaim. The film is directed and written by Abu Aleeha and the cast includes Ayesha Omar, Yasir Hussain, Babar Ali, Mehar Bano, Nayyer Ejaz.

    The story of ‘TaxaliGate’ highlights issues of injustice and betrayal while depicting the complex lives of its individuals within Taxali gate. It portrays their struggles with societal norms and an ineffective legal system, ultimately defending their rights. The film was theatricality released on 16 February 2024.

    The director, writer wrote on X (formerly Twitter) “Taxali Gate received the top accolade for Best Thriller Film at the 2024 Los Angeles Film Awards.” LAFA 2024 refers to the 2024 Los Angeles Film Awards. It’s an annual event where films from around the world compete in various categories, aiming to receive recognition and awards for their achievements in filmmaking.

  • TTP launches Azm-e-Shariat as retaliation to Pakistan’s Azm-e-Istehkam

    TTP launches Azm-e-Shariat as retaliation to Pakistan’s Azm-e-Istehkam

    Following the government’s announcement of launching the new security operation Azm-e-Istehkam, a counter-terrorism campaign against the Tehreek-e-Taliban (TTP), the terrorist organisation has also announced its own retaliatory operation Azm-e-Shariat, the Khorasan Diary reported.

    Earlier this week, journalist Iftikhar Firdous raised alarms over the “clarity of policy” that the TTP holds against a confused and ambiguous state policy while appearing in Geo News programme Jirga with Saleem Safi.

    “The war against the Taliban has transformed; it has become ideological. TTP has started talking to political parties as they are expanding their political legitimacy by making a political office in Pakistan. Sarbakaf Mohmand, an affiliate of Jamaat-ul-Ahrar (JuA), was appointed as the political commission head,” cautioned the journalist.

    The Current contacted Iftikhar, the founding editor of the digital news organisation Khorasan Diary, to ask about the consequences of TTP having a clear ideology and garnering legitimacy.

    “Legitimising them even as a stakeholder has ramifications for the state. What happened during the peace talks gave them a voice, and since then, they have expanded that voice to overlap with the political narratives of the country,” said Firdous.

    He pointed out that since their narrative post-2021 is primarily anti-military and blames political governments of corruption and elitism,
    “any voice that chimes the same cord is used by them to promote their narrative. Their propaganda has been directly relevant to the political situation of current Pakistan.”

    About Azm-e-Istehkam, he said, “It has been clarified now that Azm e Istihkam is not the name of kinetics but rather the real-time implementation of the 14 points of the revised national action plan.”

  • YouTube tests new feature to support small creators

    YouTube tests new feature to support small creators

    YouTube has started testing a new feature to encourage content creators with fewer subscribers.

    This feature is called Hype, and it is being tested in some countries; in the second phase, this feature will be expanded to more countries.

    YouTube partner content creators will benefit more from the feature, and the feature will be available only to content creators who have a maximum of 500,000 subscribers.

    Under the feature, users will be able to use the “Hype” section in their uploaded video, after which their video will be automatically promoted by YouTube’s algorithm for a week.

    Under the feature, whichever user’s video gets more “Hype” in a week will be paid more money under different categories.

    The feature will not be available to all YouTube channel owners immediately, but it is likely to be rolled out to everyone in the future.

  • Pakistan Stock Exchange closes above 80,000 mark for the first time in history

    Pakistan Stock Exchange closes above 80,000 mark for the first time in history

    Bulls dominated the Pakistan Stock Exchange (PSX) on Wednesday, propelling the benchmark KSE-100 index to a record-breaking high above the 80,000 mark.

    The KSE-100 index closed at an unprecedented 80,233.67 points, up 680.79 points or 0.86 per cent from the previous session.

    Throughout the trading day, the index fluctuated within a range of 707.98 points, reaching an intraday peak of 80,405.23 points and dipping to a low of 79,697.25 points. The total volume of shares traded in the KSE-100 index was 280.09 million.

    Out of the 100 companies on the index, 65 ended the day in positive territory, 31 closed lower, and 4 remained unchanged.

    This surge comes as Pakistan seeks to finalise a staff-level agreement for a $6 billion International Monetary Fund bailout, having met all the lender’s requirements in its recent budget, according to the junior finance minister, Reuters reported.

    Key sectors driving the index higher included Commercial Banks (+274.44 points), Oil & Gas Exploration Companies (+161.35 points), Power Generation & Distribution (+87.90 points), Cement (+87.45 points), and Oil & Gas Marketing Companies (+68.34 points).

    Conversely, the index faced headwinds from the Fertilizer sector (-102.98 points), Tobacco (-32.38 points), Engineering (-29.42 points), Automobile Assembler (-12.75 points), and Automobile Parts & Accessories (-6.91 points).

  • Candidate who failed matriculation in 1988 passes in 2024

    Candidate who failed matriculation in 1988 passes in 2024

    In a startling revelation, a candidate who reportedly failed matriculation exams back in 1988 managed to obtain a passing result in 2024, raising questions on the integrity of educational records and administrative oversight.

    The candidate, originally from Karachi, appeared in matriculation board’s records from 1988 to have failed the exam. However, documents show that the same individual was later issued a degree, indicating a successful completion.

    According to official records, degrees were issued to students who had previously failed under the signature of Secretary Matric, Naveed Gujjar.

    In response to inquiries, he stated that a fake certificate of matriculation was issued to the candidate and that he has nothing to do with it.

  • Pakistani dramas going international: Three dramas to air on Turkish television

    Pakistani dramas going international: Three dramas to air on Turkish television

    Pakistani dramas have always been loved not just in Pakistan but worldwide. Their popularity is clear as they are now set to air on Turkish TV with Turkish dubbing. The international move shows its wide appeal, engaging diverse audiences with strong storytelling and rich cultural themes.

    Here are three favorite Pakistani dramas now airing on Turkish TV:

    1:Tere Bin

    Tere Bin, set in Hyderabad, tells the story of Murtasim Shahnawaz Khan (played by Wahaj Ali), the village head, and Meerab Waqas Ahmad (played by Yumna Zaidi), the ambitious daughter of a lawyer. Murtasim faces threats from rival Malik Mukhtar and his son Malik Zubair, which makes him assert his power. Meanwhile, Meerab dreams of becoming a lawyer but clashes with her family over traditional beliefs. The drama heats up as Murtasim and Meerab are forced into a marriage full of conflicts and power struggles, eventually forming a deep bond despite their differences.

    This drama about love, honor, and societal issues will soon be available to a wider audience as it airs on Turkish television Channel 7 under the new name ‘So Deep.’ The show, known for its rich story and cultural depth, has been dubbed in Turkish to connect with Turkish viewers. With its captivating plot and strong performances, ‘So Deep ’ is set to become a favorite among Turkish audiences.

    Watch the trailer here in the Turkish language!

    ‘Aulaad’ Starring Mohammed Ahmed, Marina Khan, And More!

    Aulaad is a drama about devoted parents who worked hard to give their children a good upbringing and education. When the children grow up and marry, they believe their success is all their own doing, forgetting their parents’ sacrifices. This story highlights the emotional and generational conflicts within the family.

    The drama became very popular because it realistically portrays societal issues and family dynamics. It struck a chord with viewers by showing how parents’ sacrifices are often overlooked and how children can be ungrateful, reflecting the darker sides of society.

    Now, ‘Aulaad’ will be shown on Turkish television Channel 7 with the new name ‘Evlat.’

    Hiba Bukhari & Danish Taimoor Starrer ‘Deewangi’

    ‘Deewangi’ tells the story of Nageen (Hiba Bukhari), who comes from a lower-middle-class background, and Sultan Durrani (Danish Taimoor), a wealthy businessman with political connections. Sultan, who his grandmother raised after losing his parents, meets Nageen, a bus hostess, on a journey. Attracted to her bravery, Sultan tries to win Nageen over, despite the class differences between them.

    Originally praised in Pakistan (2019) for its intense storyline and performances, ‘Deewangi’ will now air in Turkey as ‘My Divine Heart,’ expecting to resonate with its themes of love, revenge, and societal pressures.

    Watch the teaser: