Blog

  • Largest money laundering scandal: FBR exposes Rs47 billion trade-based fraud 

    Largest money laundering scandal: FBR exposes Rs47 billion trade-based fraud 

    The Federal Board of Revenue (FBR) in Pakistan has uncovered a massive case of money laundering and under-invoicing in the trade industry, making it one of the country’s biggest financial scandals. 

    Following a thorough investigation by auditors, the FBR took legal action against two companies based in Peshawar. They found that these companies were involved in a staggering money laundering operation worth Rs47 billion, which they officially termed ‘trade-based money laundering.’ 

    According to the FBR’s report, these companies allegedly caused a massive financial loss of Rs25 billion to the national exchequer by under-invoicing transactions, all under the guise of dealing with solar panels. 

    In the FIR, the owners of these companies, Moon Light Traders and Bright Star, were named as suspects. The report revealed that Bright Star had been involved in under-invoicing since 2013, while auditors scrutinised records of 705 Goods Declarations (GDs) related to Moon Light Traders. 

    Furthermore, it was discovered that these companies continued their money laundering activities from 2017 to 2022. According to ARY News, the FBR promptly shared its report on trade-based money laundering and under-invoicing with the Caretaker Prime Minister, Anwaarul Haq Kakar. 

    In a separate incident in September, the FBR exposed a massive tax fraud worth Rs314 billion perpetrated by a fictitious company called K H & Sons. This fraud was uncovered by the Director-General of Internal Audit at Inland Revenue’s team. 

    Interestingly, K H & Sons was a paper company registered under the name of a Benami individual, Muhammad Kashif. Their fabricated documents falsely claimed to be in the iron and steel business, using addresses of legitimate markets like Liaquat Market, Agri Market, and M.A. Jinnah Market. 

    Sources also revealed that this bogus company was used for various illegal activities. What’s surprising is that despite the large-scale tax fraud, the FBR had not taken legal action against the culprits, leading to concerns that they might flee the country if a First Information Report (FIR) was not filed promptly. 

  • State Bank of Pakistan reports $21 million decline in forex reserves

    State Bank of Pakistan reports $21 million decline in forex reserves

    Pakistan’s total liquid foreign reserves reached a sum of $13,030.8 million, with the central bank holding reserves amounting to $7,615.4 million, as reported by the State Bank of Pakistan (SBP). 

    According to a statement released by the State Bank of Pakistan on Thursday, during the week ending on September 28, 2023, SBP’s reserves experienced a decrease of $21 million, resulting in a total of US$ 7,615.4 million. Concurrently, commercial banks held net foreign reserves totaling $5,415.4 million. 

    In the preceding week, ending on September 22, 2023, the country’s total liquid foreign reserves were reported at US$ 13.162 billion. Among these, the central bank held foreign reserves amounting to $7.636 billion, while commercial banks held net foreign reserves of $5.525 billion. 

    As of September 29, the total liquid foreign reserves of Pakistan stood at US$ 13.18 billion, with the central bank’s reserves totaling $7,636.7 million. The State Bank of Pakistan (SBP) spokesperson attributed the decrease in SBP’s reserves by $59 million to debt repayments during the week ending on September 22, 2023. Net foreign reserves held by commercial banks amounted to $5,525.1 million. 

    In the week ending on September 15, 2023, the country’s total liquid foreign reserves were recorded at $13.186 billion. Among these, the central bank held foreign reserves amounting to $7.695 billion, while commercial banks held net foreign reserves totaling $5.491 billion. 

  • New Zealand defeats England by nine wickets in the opening match of the World Cup

    New Zealand defeats England by nine wickets in the opening match of the World Cup

    New Zealand has defeated England by an astonishing margin of nine wickets in the first match of the World Cup 2023 played in Ahmedabad on Thursday.

    The Kiwis won the toss and decided to field against England in the opening match of the World Cup at the Narendra Modi Stadium in Ahmedabad in a one-sided contest.

    In the first inning, England scored 282 runs for the loss of 9 wickets in the allotted 50 overs, with Joe Root scoring 77 runs and captain Jos Buttler scoring 43 runs.

    New Zealand easily achieved the target of 283 runs given by England in the 37th over with the loss of just one wicket. Dion Conway scored 152 off 121 balls while young Richan Ravindra played an unbeaten innings of 123 runs on 96 balls.

    The second match of the ICC Cricket World Cup will be played tomorrow between Pakistan and Netherlands.

  • Mahira Khan’s marriage shows families just aren’t about father, mother, children: they can be different and happy

    Mahira Khan’s marriage shows families just aren’t about father, mother, children: they can be different and happy

    It was a picture of serenity, one that won the hearts of millions of Pakistan. A 38-year-old single mother looking stunning in a light outfit walked down the aisle, shedding tears of joy as she married the love of her life, Salim Karim. For the past three days, Mahira Khan’s wedding was all anyone could talk about, and one many women are expressing joy about. One user shared a picture of Mahira as a bride, alongside veteran celebrity couple Manzar Sehbai and Samina Ahmed (who both married at a later age) with the caption “Love and life are worth trying for”, which pretty much sums up why we are feeling so emotionally attached to the event. Not because it’s a celebrity who got married, but because she chose to marry on her own terms, and kept advocating throughout her career that families can be complex and unique.

    Mahira Khan married during the beginning of her career, to Ali Askari, whom she called her “childhood sweetheart” in some interviews. This decision, she revealed during a session at Faiz International Festival, was something other people urged her not to follow, because it might harm her career.

    “You’re just 21 years old!’ Mahira recalled Ghazanfar Ali telling her, when she was working as a VJ.

    “Career, career, career, it didn’t make sense to me. I just wanted to get married,” said Mahira. She spoke about how she objected to the concept that a film heroine is not allowed to get married or have a baby, and has to, in a way, remain “an untouched girl” to the public, while the same isn’t expected from the man.

    The couple got divorced in 2015, but Mahira maintained that it was not out of enmity, as the two continued to remain close friends even to this day. She maintains a cordial relationship with him to this day

    “I think that Azlan’s father and their family and my family, we are on the same page, when it comes to Azlan,” the actress told Fuchsia in 2021. “I’m very close to them, even now, as I have grown up in their house. It takes work, it takes swallowing your pride at times, and it takes trying to understand the other person. And for your child’s sake, you do it. If you’re lucky that people from both sides are good and looking at the child’s well-being and true happiness, then you forget the bitterness.”

    She also revealed recently to Frieha Altaf that their relationship wasn’t abusive, and the two continued to remain good friends to this day, while ensuring that Azlan remained their top-most priority.

    Such words coming from a woman hold a lot of weight as she is currently one of Pakistan’s top-paid actresses, and also one who comes from a country where divorce is treated like a plague. A 2021 report said atleast 19,875 households in Pakistan were headed by single mothers, but the majority of our pop culture loathes divorcees and does it openly. Only this year, two of the most critically acclaimed dramas consisted of women forcefully married to a man their family chose.

    Mahira’s marriage is a lighthouse moment, proving that families can comprises of two parents and a child, but can also include a step-parent, or even just a single mother. Her wedding wasn’t typical, a powerful reminder that you can settle when you want and choose how to celebrate your wedding. One picture that made the most rounds on social media and earned a lot of praise was when the actress walked down the aisle with her son.

    Many users highlighted the beauty of this picture, an actress being given away by the son she raised on her own as a single mother, to the man she married for love. There’s nothing more beautiful than this moment, no matter how many celebrity weddings we watch in the future, watching Mahira gracefully embrace her ‘imperfect’ family, while encouraging other Pakistani women to do so, is the catharsis we all needed.

  • ICC World Cup 2023: Still no Indian visa for Pakistani journalists

    ICC World Cup 2023: Still no Indian visa for Pakistani journalists

    The ICC Cricket World Cup has started today, but Indian authorities are yet to issue visas for Pakistani journalists. Indian visas are only issued for Pakistan Cricket team. Ramiz Raja and Zainab Abbas, who are joining as commentators, have been issued visas.

    This will be the first World Cup since 1975 in which no Pakistani journalist will be present in the press gallery.

    India has not yet issued a visa to any Pakistani journalist, while some Pakistani people who are associated with the ICC (International Cricket Council) have also not been issued visas. Pakistanis working in British media organizations are also not getting visas. It seems that until the Pakistan-India match on the 14th, Pakistani journalists will not get visas.

    Read More: Everything you need to know about World Cup trophy’s history, material, and worth

  • Why is India hosting the World Cup with empty stadiums?

    Why is India hosting the World Cup with empty stadiums?

    Social media users are questioning the decision by the ICC to let India host the World Cup when there is no opening ceremony and barely any spectators in the first match.

    Interestingly, when the Asia Cup was being partially hosted by Pakistan, some Indians criticized the ‘empty stadium’ in Multan. Now, the tables have turned, India is the host, the first match is between New Zealand and England, finalists of the last World Cup, and the stadium is empty. There was no opening ceremony for ICC World Cup 2023 and honestly, we can’t see spectators either.

    This one’s hilarious, to be honest, does this remind you of Asif Zardari too?

    Twitter user Ahsan Shehzad said, “A complete empty stadium in Ahmedabad, is India the right place to host the WC??”

    Osama highlighted multiple issues regarding the World Cup being hosted in India

    Anas Tipu wanted a banter with Irfan Pathan, who blames everything on neighbors

    Trendulkar hopes that the stadium will fill up after office hours

  • Three-year gap a must between two births: Punjab Minister for Population Welfare

    Three-year gap a must between two births: Punjab Minister for Population Welfare

    Punjab Minister for Population Welfare, Dr Jamal Nasir, has asserted that a three-year gap must be ensured between two child births for the health and safety of both the mother and the baby.

    While addressing a seminar on population welfare on Tuesday, Dr. Nasir added that under-nourishment and anaemia has resulted in women suffering from poor health.

    A policy is also being developed in which only employees with three or less than three children will be allowed to work in the Population Welfare Department.

    The caretaker government has reportedly promoted about 45,000 lady health workers in the province as part of its efforts towards improving mother and child healthcare and promoting population welfare.

    Dr Jamal Nasir pointed out that population control had never been seriously prioritised in Pakistan for sustainable development of the country, highlighting Iran and Bangladesh as role models pertaining to family planning.

  • Indian cricketer Shikhar Dhawan given divorce on grounds of cruelty inflicted by wife

    Indian cricketer Shikhar Dhawan given divorce on grounds of cruelty inflicted by wife

    On Wednesday, a Delhi court granted Indian cricketer Shikhar Dhawan divorce from his wife Aesha Dhawan, on grounds of cruelty inflicted by his spouse. The couple married in 2012, and share a 10-year-old son.

    According to NDTV, the family court judge accepted Mr Dhawan’s accusations of “mental torture’” inflicted by his wife, who was unable to prove the allegations to be false. The petition details multiple instances where Dhawan was exploited, put in mental agony after being refused to visit his son.

    The petition said that the wife had promised to move to India to help with Dhawan’s career after he was unable to move to Australia. However, it reveals Aesha backtracked and refused to move back, claiming she would be forced to give up custody of her children.

    “He (Dhawan) for no fault of his own had been through immense agony and anguish of living separately from his own son for years. Even though the wife denied the allegation, submitting that though she genuinely wanted to live in India with him, yet she did not choose to contest the claim. The respondent, by conducting herself in the manner, has inflicted such cruelty, agony and trauma on him, that it was impossible for the petitioner to save the marriage,” the statement from court said.

    The next example given in the petition recalls how Aesha forced the cricketer to make her to owner of the three properties he bought in Australia, and had complete ownership of one home while joint custody on the other two. She did not provide her own funds to contribute in the purchase, forcing Dhawan to pay child support not only for their son, but also for two daughters from the wife’s first marriage for whom she was already receiving payments from her first husband.

    “The respondent was required to prove that properties were purchased out of her fund as well or her name was included out of love and affection. Thus, Dhawan’s allegation that she compelled him to make her owner to some extent in all three properties or that she pocketed sale proceeds thereof has got to be believed as true,” it added.

    The court granted mandatory visitation rights to Dhawan to meet his son in India and Australia, and demanded Aesha to bring their child back to the country.

  • Rohit Sharma’s reply to journalist gets Babar laughing

    Rohit Sharma’s reply to journalist gets Babar laughing

    Before the start of the ICC World Cup, a conference of the captains of all the cricket teams was held to let media interact with them.

    During the session, an Indian journalist asked Rohit Sharma about England being declared successful in the final of the last World Cup, a match which first got tied, led to a super over, then got tied again. The journalist asked if both teams could have been declared joint winners.

    At this question, Rohit Sharma said “What is the question, my friend, how should I answer it?”

    People present at the conference includinb Pakistan team captain Babar Azam also laughed at Rohit Sharma’s reply.
    England captain Jos Buttler, who was sitting with Babar Azam, looked at Babar in a questioning manner and inquired about the meaning of Rohit’s words, on which Babar Azam translated what Rohit said to the Journalist.

    Most of the questions were directed towards Babar Azam and Rohit Sharma.

    Read More: ‘Bury them properly’; man digs up children’s graves

    At one point in the press conference, South African captain Temba Bavuma was seen sleeping, which he later denied and said that the camera angle was such that it looked like he was sleeping, but he was not.

  • What does Bushra Bibi want to give Imran Khan in jail?

    What does Bushra Bibi want to give Imran Khan in jail?

    Imran Khan’s wife, Bushra Bibi, has approached the Islamabad High Court seeking protection for her husband and expressing concerns about his safety in jail. She has requested permission for homemade food for Imran Khan, while his legal team has claimed that his life is in danger.

    The IHC has issued notices to respondents in Bushra Bibi’s case and is considering her request to provide homecooked food to Imran Khan. The court has adjourned the hearing until next week.

    Imran Khan, the Chairman of PTI, has taken his case to the Islamabad High Court (IHC) in an effort to suspend a trial court’s verdict in the Toshakhana case. This move comes after the IHC previously suspended his three-year sentence in the same case about a month ago.

    In August, a trial court in Islamabad found Imran Khan guilty of “corrupt practices” related to concealing details of state gifts and sentenced him to three years in prison. While Additional District and Sessions Judge Humayun Dilawar had ordered the capital police chief to arrest Imran, he was instead arrested by the Punjab police, who took him to the Attock district jail. The Supreme Court later acknowledged “procedural defects” in Imran’s conviction by the trial court, suspending his sentence.

    Following the suspension of his Toshakhana case sentence, Imran Khan was detained in the cipher case and has been in judicial remand, which was extended until October 10. Recently, he was moved to Adiala jail from Attock jail under the IHC’s directives.

    Imran Khan, represented by senior lawyer Sardar Latif Khosa, has filed a petition with the IHC seeking the rectification of the order that suspended the Toshakhana case verdict. The petition requests the suspension of the order until the final appeal decision and also seeks permission to make the state a respondent in the appeal.

    The petition argues that the IHC has the authority to suspend the impugned order and sentence under the relevant sections of the Criminal Procedure Code. It highlights an omission in recording the counsel’s request for suspension of the trial court verdict, which has affected Imran Khan’s rights, including his disqualification from elections by the Election Commission of Pakistan (ECP).

    The petition further alleges mala fide intentions on the part of the ECP in disqualifying Imran Khan and mentions attempts to remove him from the leadership of PTI and prevent him from participating in general elections.

    In a related development, the Special Court (Official Secrets Act) handling the cipher case against Imran Khan and former foreign minister Shah Mehmood Qureshi is expected to indict both leaders on October 9. The case involves the disclosure of classified diplomatic information.

    During the trial behind bars, the prosecution requested in-camera proceedings, but the judge ruled that the trial would commence after framing charges against the suspects and that proceedings were already being conducted inside Adiala Jail. The IHC rejected the FIA’s request for an in-camera hearing of their post-arrest bail petitions in the cipher case.