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  • SBP Governor confirms Pakistan’s strong position to achieve IMF targets 

    SBP Governor confirms Pakistan’s strong position to achieve IMF targets 

    The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, provided a reassuring update to investors on Friday, affirming that the nation is well-positioned to meet the International Monetary Fund’s (IMF) end-September targets for net international reserves and net domestic assets. 

    Ahmad said that Pakistan is “very comfortably” placed to meet IMF targets. 

    This declaration was made by Governor SBP during a meeting with prominent international investors held on the sidelines of the IMF-World Bank gatherings in Marrakech, Morocco.  

    The meeting was organised by prominent global banks such as Barclays, JP Morgan, Standard Bank, and Jefferies. 

    According to an official press release from the central bank, investors were apprised of recent macroeconomic developments, the government’s response to prevailing challenges, and the economic outlook of Pakistan and were provided with the opportunity to seek clarification on these matters. 

    Governor Ahmad informed investors that the current policy framework is strategically oriented towards achieving stability by addressing prevailing macroeconomic imbalances. 

    He highlighted that the SBP had taken early measures to tighten monetary policy in response to escalating global inflation. 

    Nevertheless, certain domestic obstacles, such as the 2022 floods, had complicated the SBP’s efforts to combat inflation. 

    The governor noted that these stabilisation measures have begun to yield positive outcomes. Inflation, after reaching a peak of 38.0 per cent in May 2023, decreased to 31.4 per cent in September 2023 and is anticipated to continue on a downward trajectory in the coming months. 

    Furthermore, Pakistan’s external account has exhibited substantial improvements, with foreign exchange reserves being steadily replenished. 

    Governor Ahmad expressed confidence that inflation would significantly decrease in the latter half of the fiscal year. 

    He emphasised that the stand-by arrangement with the IMF is anticipated to provide essential support for ongoing economic stabilisation efforts. 

    In addition, he reported that foreign exchange reserves have improved considerably, marked by an increase from a low of $3.1 billion in January 2023 to $7.6 billion at the end of September 2023. 

    This reserve enhancement was largely bolstered by non-debt-creating inflows amid favourable market conditions. 

    According to Geo, the Governor further revealed that the SBP has successfully met the forward book target of $4.2 billion for end-September 2023, as agreed with the IMF, with a substantial surplus. 

    Likewise, the SBP is confidently poised to fulfil other end-September IMF targets, including net international reserves (NIR) and net domestic assets (NDA). 

    Concluding his statement to investors, Governor Ahmad conveyed that Pakistan is diligently addressing long-standing structural deficiencies.  

    He expressed optimism that, with the support of both multilateral and bilateral partners, the nation is on course to achieve sustainable and inclusive economic growth in the medium term. 

  • Get your umbrellas ready, rain showers are expected soon

    Get your umbrellas ready, rain showers are expected soon

    A new spell of rain is likely to start on the evening of Friday and Saturday as per Pakistan Meteorological Department.

    Met Office has said that a westerly system is likely to enter the upper parts of the country on October 13 (evening/night) and likely to spread to upper/central parts on 14th (night).

    Snowfall over the high mountains and isolated hailstorms in the plains of Khyber Pakhtunkhwa along with snowfall over the high mountains in Kashmir and Gilgit-Baltistan is expected.

    Under the influence of this weather system:

    Moderate to isolated heavy rain and thunderstorm are expected in the following areas of Khyber Pakhtunkhwa: Chitral, Dir, Swat, Malakand, Shangla, Buner, Mansehra, Kohistan, Abbottabad, Swabi, Khyber, Mohmand, Bajaur, Peshawar, Mardan, Nowshera, Charsadda, Kurram, Kohat, Hangu, Orakzai, Bannu, Karak, Lakki Marwat, Tank, Waziristan and Dera Ismail Khan from 13th (evening/night) to 17th with occasional gaps.

    Moderate to isolated heavy rainfalls and thunderstorms are expected in the following areas of Kashmir/Gilgit-Baltistan: Kashmir, (Neelum valley, Muzaffarabad, Poonch, Hattian, Bagh, Haveli, Sudhanoti, Kotli, Bhimber, Mirpur), Gilgit Baltistan (Diamir, Astore, Ghizer, Skardu, Hunza, Gilgit, Ghanche, Shigar) from 13th (night) to 17th.

    Moderate to isolated heavy rainfalls and hailstorms are expected in Islamabad and the following areas of Punjab: Islamabad, Potohar region, Murree, Galiyat, Sialkot, Narowal, Lahore, Sheikhupura, Okara, Gujranwala, Gujrat, M.B. Din, Hafizabad, Sargodha, Khushab, Noorpurthal, Faisalabad, Toba Tek Singh, Jhang and Kasur from 13th (night) to 17th.

    Rain-wind/thunderstorm is also expected in Layyah, Bhakkar, Kot Addu, Sahiwal, Multan, Dera Ghazi Khan, Rajanpur, Bahawalpur, Bahawalnagar and Rahim Yar Khan on 16th (evening/night) to 18th with occasional gaps.

    In Sindh, rain/wind-thunderstorm are expected in Jacobabad, Kashmore, Shikarpur, Sukkur, Ghotki, Khairpur, Sanghar, and Umerkot on the 17th (evening/night) and 18th.

    In Balochistan, rain/wind-thunderstorm are expected in Sherani, Musa Khel, Zhob, Qilla Saifullah, Loralai, Barkhan, Kohlu, Sibbi, Bolan, Kalat, Harnai, Naseerabad, Dera Bugti, Jaffarabad, Qila Abdullah, Pishin, Quetta and Ziarat on 17th and 18th.

    Impacts and Advises:

    Moderate to heavy falls may increase water flows in local Nullahs/streams and may trigger landslides in the vulnerable areas of Murree, Galliyat, Kashmir, Gilgit Baltistan, Chitral, Dir, Swat, Kohistan, Shangla, Buner, Mansehra & Abbottabad during the spell. Tourists and travelers are advised to remain cautious during the forecast period.

    Heavy rain may generate urban flooding in Rawalpindi and Lahore on the 15th (evening/night) and 16th.

    Temperatures are likely to drop significantly and farmers are advised to manage their crop activities accordingly.

  • Israel tells 1.1m people to evacuate Northern Gaza within 24 hours: what we know about day seven

    Israel tells 1.1m people to evacuate Northern Gaza within 24 hours: what we know about day seven

    Where do they go?

    The Gaza Strip consists of 2.3 million people. More than 1.1 million Palestinians living in the northern part of the Strip are being asked to move towards the South by Israeli forces — that too, within 24 hours as there are plans of ground operations.

    The UN has deemed the call as “impossible”, stating that it can lead to a serious humanitarian crisis: “It is ‘impossible for such a movement to take place without devastating humanitarian consequences,” the UN said.

    Israeli military sent a warning to Gaza saying, “This evacuation is for your own safety. You will be able to return to Gaza City only when another announcement permitting it is made. Do not approach the area of the security fence with the State of Israel.”

    Hamas, however, has told Palestinians to not give into the “fake propaganda”“Remain steadfast in your homes and stand firm in the face of this disgusting psychological war waged by the occupation”, stated the Hamas Authority for Refugee Affairs.

    Nowhere to sleep

    The International Committee of the Red Cross has revealed that as a large number of people in Gaza are being displaced, “hundreds of thousands have nowhere to sleep”.

    It added that more than 2 million people lack basic necessities, water and electricity; ambulances cannot reach the wounded.

    423,000 people displaced

    The United Nations has revealed that 423,378 people have been displaced after forcibly fleeing their residences in Gaza.

    The UN’s Office for the Coordination of Humanitarian Affairs (UNOCHA) said that this number has reportedly risen by an addition of 84,444 people on Thursday.

    ‘Genocide’ in Gaza, says Hamas

    In a video statement, senior Hamas official Ghazi Hamad describes the current Israeli moves as “genocide” which are being backed by the Western countries who, he added, are not seeking a resolution.

    “There is no safe area for the people in Gaza to seek refuge or shelter,” he said.

    “Every area and every building is under possible attack. Everyone is targeted and vulnerable to Israel’s killing, including women, children, the elderly and even disabled people.”

    “The Israeli leaders are giving clear instructions to their army to carry out a genocide [against] more than two million citizens in the Gaza Strip. We are facing unprecedented crimes in modern history,”

    30 airstrikes in one night

    Israel conducted 30 airstrikes during the night in a span of just one hour.

    This indicates the intensification of attacks in the northern part of the Gaza Strip after excessive attacks in the southern part, targeting Rafah.

    Use of white phosphorus

    The use of white phosphorus has now been confirmed by Human Rights Watch.

    “Human Rights Watch verified videos taken in Lebanon and Gaza on October 10 and 11, 2023, respectively, showing multiple airbursts of artillery-fired white phosphorus over the Gaza City port and two rural locations along the Israel-Lebanon border, and interviewed two people who described an attack in Gaza,” they have stated.

    Additionally, Lama Fakih, Middle East and North Africa director at Human Rights Watch explains that “Any time that white phosphorus is used in crowded civilian areas, it poses a high risk of excruciating burns and lifelong suffering,

    “White phosphorous is unlawfully indiscriminate when airburst in populated urban areas, where it can burn down houses and cause egregious harm to civilians.”

    Lebanese forced to flee too

    After Palestinians, thousands of people from southern Lebanese villages are forced to leave their houses due to high chances of Israel-Hezbollah war.

    Hezbollah is a Lebanese Shia Islamist political party and militant group. They have a frictional history with Israel and both of them have, time and again, attacked each other’s territory.

  • ‘No compromise after November 1’, Interior Minister tells Afghan immigrants

    ‘No compromise after November 1’, Interior Minister tells Afghan immigrants

    In a recent statement, the Interim Federal Interior Minister Sarfraz Bugti has categorically stated that all illegal immigrants are to leave Pakistan before November 1. “There will be no compromise after that,” he remarked.

    He further said that it is the unanimous decision of all the stake-holders that Afghans should be given a grace period even though many of them are volunteering to leave. However, anybody who wants to leave must do that before the deadline.

    The policy is apparently for all illegal residents and is not targeted against Afghans.

    He clearly stated that illegal residents are those who do not own a visa. “Irrespective of their nationality, we are only going to send those back after the deadline,” he said.

  • #BoycottMcDonalds trends as the fast food giant opens five new restaurants for Israeli security forces, donates 4,000 daily meals

    #BoycottMcDonalds trends as the fast food giant opens five new restaurants for Israeli security forces, donates 4,000 daily meals

    The hashtag #BoycottMcDonalds began trending worldwide on X (formerly Twitter) after the Israeli McDonalds released a statement on their verified account expressing their solidarity with the IDF. In a post on their Instagram account, the food chain said that they have opened five new restaurants to provide free food to security and soldiers, providing them with 4000 free meals.

    “50% discount for the security and rescue forces,” the translated image reads. “We increased the discount from 15% to 50% for the security and rescue forces in uniform on every purchase. Our hearts go out to the families of the murdered, the heroic martyrs who fell in battle, the security forces, the wounded, the kidnapped and the missing.”

    The translated text in the post says:

    “Update that already yesterday we donated 4000 meals to hospitals and military units, we intend to donate thousands of meals every day to soldiers in the field and in drafting areas, and this is beyond a discount to soldiers coming to restaurants. We opened 5 restaurants that were open only for this purpose.”

    On Tuesday, the account shared a video of servers packing food for the paratroopers, with the caption in the video saying “Mcdonalds Giron Ashkelon Mall on the way to paratroopers.”

    In another video, the translated text in the video says this is the McDonald’s branch in Negev Mall which is packing food to send it to military bases

    X users expresed outrage over the videos by pointing out that Palestinians’ food and water supply was cut off, and they were denied other basic things like electricity or internet facilities- but McDonald’s was giving free food to Israeli soldiers.

  • ‘We have beaten India in T20, its not that we can’t beat them here’: Babar Azam

    ‘We have beaten India in T20, its not that we can’t beat them here’: Babar Azam

    Pakistan captain Babar Azam has said in a press conference held before the Pakistan-India match in the World Cup 2023, that his team does not focus on what happened in the past. “We focus on what is happening now, but we will try to give a good performance in tomorrow’s match,” he remarked.

    Babar Azam said that he has not batted as well as he should have in the World Cup so far. Stating that he does not know what the result of tomorrow’s match will be, Babar stressed that he has confidence in the team.

    Talking about Pakistan’s bowling line, Babar Azam said about Naseem Shah, “We will miss him in the World Cup for his impressive bowling in the Asia Cup. I believe in Shaheen Afridi. He is a big-match bowler.”

    Read More: Israel paying YouTube to put false news in children’s videos

    An up-and-down performance in a couple of matches does not mean that there is a question mark, Babar said about his star bowler. “If Pakistan wants to win the World Cup, the fielding should be better,” he told the press.

    He further said that there is no pressure on the players. “I hope we will get support here like in Hyderabad. We have beaten India in T20, it’s not that we can’t beat them here.”

  • Twitter(X) is not happy with EU’s letter to Elon Musk

    Twitter(X) is not happy with EU’s letter to Elon Musk

    On October 10, Commissioner European Union Thierry Breton, the face of Digital Service Act (DSA), called out Elon Musk for his platform X allegedly allowing the dissemination of “illegal content and disinformation in the EU.” He gave Elon a period of 24 hours to respond.

    Elon was quick to respond and it was sharp and crisp. “Our policy is that everything is open source and transparent, an approach that I know the EU supports.”

    He goes on to add, “Please list the violations you allude to on X, so that that the public can see them.”

    Among hundreds of reactions underneath this exchange, users questioned the credibility and commitment of the EU to ensure freedom of expression.

    One user points out that the intention behind the letter is to engage in “populism and propaganda”.

    Another points out the need to not be dictated.

    One highlights the hypocrisy of the statement.

    Other people were reminded of the autocratic government of Russia and the Thought Police of George Orwell’s 1984.

    Another posed the question directly, You would like to censor Palestinian users like Meta (Facebook) does, wouldn’t you?

    As per the sweeping rule book of DSA, the EU Commission can fine social media platforms up to 6 percent of their global turnover or, in extreme cases, block a site entirely from the EU.

    According to an article by WIRED, legal experts say that there are no immediate consequences and there is no obligation on the platform to respond. They are characterizing it as a “misstep” by Breton while the political leadership sees it as a publicity stunt.

    On the other hand, CEO of , Linda Yaccarino has already confirmed that it has “identified and removed hundreds of Hamas-affiliated accounts”.

  • International Journalists visit Jaranwala on the invitation of Mohsin Naqvi

    International Journalists visit Jaranwala on the invitation of Mohsin Naqvi

    The Caretaker Chief Minister of Punjab, Mohsin Naqvi, invited international journalists to Jaranwala on Thursday. The small town near Faisalabad was the site of a riot in August in which armed mobs burnt the homes and churches of the Christian community.

    The visit aimed to provide the journalists with an opportunity to observe the administration’s endeavors in assisting the Christian families impacted by the tragic events of August 18.
    Faisalabad Deputy Commissioner Abdullah Nayar Sheikh and CPO Muhammad Ali Zia provided an overview of the efforts undertaken to support the affected families, the process of restoring churches, and the transfer of churches to the administration.
    Journalists learned that each impacted household received a financial grant of Rs2 million and had the damaged electricity and gas meters in their homes replaced.
    Christian students were able to return to their educational institutions after receiving support in the form of school bags, textbooks, uniforms, and writing materials. Additionally, jobless workers from the private industrial sector were successfully rehired with the cooperation of their employers.

    The visiting media reporters included representatives from the Washington Post, BBC, AFP, Arab News, Russia Today, and bureau chiefs of different international news agencies in Islamabad.

  • World reacts to Israel’s breach of international laws

    World reacts to Israel’s breach of international laws

    While many of its old allies still support Israel as it continues to bomb Gaza, a number of countries are now raising concerns over Israel’s breach of international laws.

    Russia

    President Vladimir Putin responded to the Israel-Palestine escalation by condemning the “catastrophic” deaths and criticised Washington’s involvement in the Middle East peace settlement.

    During a meeting with Iraqi Prime Minister Muhammad Shia al-Sudani, he said “This is a vivid example of the failure of Middle East policies of the United States [as it] tried to monopolise the [peace] settlement”.

    “But, unfortunately, [the US] was not concerned about the search for compromises for both sides and, vice versa, promoted their own conceptions about how it should be done, [and] pressured both sides,” he added.

    Moscow has also refused to label Hamas as a terrorist organisation.

    “We maintain contact with [both] sides of the conflict,” Kremlin spokesperson Dmitry Peskov said.

    “Of course, Russia continues to analyse the situation and keeps its position as a nation that has the potential to participate in the settlement process.”

    China

    On Thursday, China’s top diplomat and foreign minister Wang Yi stated that the issue of Palestinian is central to the Middle East conflict, and that denial of “justice” to the Palestinian people was at its core.

    Turkey

    Turkish President Recep Tayyip Erdogan spoke to German Chancellor Olaf Scholz, asserting that a lasting solution to the conflict lies in the establishment of a sovereign Palestinian state with its capital in East Jerusalem within the 1967 borders .

    Ireland

    Irish Prime Minister Leo Varadkar has criticised Israel for violating international humanitarian law and halting water, food and electricity supply into the Gaza Strip.

    “Israel is under threat. They do have a right to defend themselves, but they don’t have the right to breach international humanitarian law,” he said in an interview with TVE.

    “To me, it amounts to collective punishment. Cutting off power, cutting off fuel supplies and water supplies, that’s not the way a respectable democratic state should conduct itself.”

    He has, however, also urged Hamas to release all the Israeli captives, saying that Israel is “justified in attacking Hamas in Gaza and elsewhere.”

    Former Irish President Mary Robinson has also commented on the escalation, deeming Israel’s response to Hamas attacks as collective punishment.

    Robinson asserted that Ireland has been a “very good voice in acknowledging the suffering of occupation and the continual problems of Palestinians over decades.”

    Richard Boyd Barrett, Irish MP, addressed the Dáil Éireann, the lower house of the Irish parliament, during a discussion on the Irish Government’s response to the situation in Gaza.

    “The Israeli Government has brazenly, publicly and openly declared its intention to commit a war crime, and has commenced that war crime against the people of Gaza”, he said.

    Scotland

    Hamza Yousaf, the first minister of Scotland, has also spoken up against the Israeli attacks on Gaza.

    He posted on X (formerly Twitter), quoting the latest UN statement that warns about the dire consequences of Israeli orders of evacuation of Gaza.

    “The international community must step up and demand an end to collective punishment. Enough. There can be no justification for the death of innocent men, women & children.”

    He also shared a video of his mother-in-law, Elizabeth El-Nakla, calling for help.

    She was visiting her relatives with her husband when Hamas attacked on Saturday.

    Norway

    The Norwegian foreign minister, Anniken Huitfeldt, has said on Thursday that while Israel has the right to defend itself against Hamas, a total blockade of Gaza cannot be supported.

    “The establishment of a full blockade, including on access to electricity, water, food, and other goods that are indispensable for the survival of the civilian population in Gaza, is unacceptable,” she stated.

    She further pointed out that self-defense measures must be taken within international law.

    “The scale of destruction in Gaza is enormous. A large number of civilians have been killed. Given a full blockade by Israel, closed border crossings, and continued Israeli attacks, I fear that the civilian population in Gaza will face even greater hardship in the days to come,” Huitfeldt said.

    She also warned that suspension or decrease in assistance to Gaza can worsen the matter.

    “Functioning Palestinian institutions and the delivery of basic services are crucial to avoid further destabilisation and preserve the objective of the two-state solution.”

  • After consecutive defeats in World Cup, former Australian captains lash out at team

    After consecutive defeats in World Cup, former Australian captains lash out at team

    Australia lost its first match of World Cup 2023 against India by six wickets, and then lost their second match against South Africa by a massive margin of 134 runs.

    After the second consecutive defeat, former Australian cricketer Michael Clarke said that the strategy of the team in the World Cup is beyond comprehension. “Australia has prepared terribly for the World Cup,” he said.

    Calling it “incomprehensible” to field Josh Ingles instead of Alex Carey, Clarke asked if the latter was responsible for the defeat against India. “I don’t know what the positives are so far. How can you take Alex Carey to the World Cup? If you have taken it, then why did you drop him after one match?”

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    Firmly stating that he was not disrespecting Josh Ingles, Clarke said, “I don’t know him but I’ve heard he’s talented. Josh Ingles wasn’t good behind the wickets. He couldn’t even bat. I think Pat Cummins is better for captaincy.”

    On the other hand, former captain Mark Taylor said that Australia’s strategy has not been aggressive, adding that the team is waiting for the opportunity and not trying to get the opportunity. “In Asian conditions, you have to kill to get the batsmen out. If your approach is defensive, think of saving boundaries, then so many boundaries will be scored.