Petroleum product prices in Pakistan are expected to reduce from April 1st following a decline in international crude oil prices. The oil marketing companies (OMCs) estimated that the price of diesel could go down by Rs15-20 per litre, while the price of petrol is expected to decline by Rs4-5 per litre.
However, industry sources suggest that the Finance Division may keep the prices unchanged.
In its last fortnight review, the federal government had increased the price of petrol to Rs272 per litre, attributing the hike to the depreciation of the Pakistani rupee against the US dollar and an increase in the prices registered by Platts Singapore.
The government raised the price of MS (petrol) by Rs5 per litre and hi-speed diesel by Rs13 per litre. The price of kerosene oil saw an increase of Rs2.56 by reducing the government’s dues, while the price of light diesel oil remained constant by adjusting the government dues.
The new prices came into effect on March 16 and will remain in place until March 31. The Finance Division is expected to announce the new rates late on March 31, which will remain in place for the next 15 days.
The International Monetary Fund (IMF) has asked Pakistani authorities to provide additional information about a petrol relief package, which has caused further delays in the signing of a staff-level agreement.
The petroleum ministry’s cross-fuel subsidy proposal was initially rejected by the Fund, which argued that more details are needed to verify its sustainability.
The Ministry of Finance has distanced itself from the plan, which was announced without the IMF review mission’s knowledge, and has advised the Ministry of Petroleum to withdraw the proposal and work with the Ministry of Finance to iron out the policy details before approaching the IMF for the next review.
According to The News, Minister of State for Finance, Dr Aisha Ghaus Pasha, has reportedly called the petrol subsidy plan “not workable” and clarified that there is no suggestion of subsidies on petroleum products. The Petroleum Division had suggested cross-subsidies on petroleum products, which is not feasible, she said.
The talks with the IMF are ongoing, with the only remaining issue being the lender’s confirmation of external financing from bilateral countries, including Saudi Arabia and the UAE, which is currently underway.
Pasha indicated that financial assistance is expected from bilateral friends soon, which will help finalize the staff-level agreement with the IMF.
How will World War III break out? If Twitter had its way, then not because if water shortage or land dispute; but because of a plate of chicken manchurian.
You’re probably wondering kya zalzala agaya tha TL pay. So let us breakdown the latest beef between Pakistan and India for you, since Pak Studies ka entire chapter is par anay walay talib-e-ilm ko rata marna parey ga.
So basically the instigator was a Western source, like it always has been: The New York Times. The newspaper published a piece on the famous Chinese dish, Chicken Manchurian, and called it ‘a stalwart of Pakistani cooking’ that is widely served in Chinese restaurants across South Asia. The article never said that the dish was owned and created by Pakistanis.
But dear students, this is where the Twitter feud exploded because Indians flooded the comments underneath the tweet pointing out that the dish was actually Indian, since it was invented by a third generation Chinese chef Nelson Wang, who lived in Calcutta. And Pakistanis retaliated as they do best- with hilarious memes. The dispute over the sweet n sour dish turned into the most hilarious Twitter exchange we have ever witnessed in our lives.
It’s common knowledge that Pakistanis will disagree and kickstart phadda’s over every topic, but the one thing we can all agree on is that our drama OSTs will remain unmatched.
When a new drama pops up on our screen, it might not manage to shake off the already established regressive stereotypes, but there is always a good chance that we get a fun new track to listen to for the next few weeks.
Yesterday this Twitter user asked their followers about their favourite drama OST, and the responses were a like a tribute to our music industry.
I say Pakistani dramas OST bangers, you all better quote it
Another underrated but incredibly loved title song was from the drama ‘Mata-e-Jaan Hai Tu’ which was sung by Bilal Khan.
Peak Adeel Hussain era. Peak Bilal Khan. Waqar Ali & Mehreen Jabbar’s magic. And it hurts even more when yk Fawad was supposed to do it initially. ❤️ https://t.co/yk3yaehxdlpic.twitter.com/6rvJrJ1nxu
A study published on Tuesday revealed that China has spent $240 billion rescuing 22 developing countries between 2008 and 2021. This amount has increased in recent years as more countries struggled to repay loans taken for the building of “Belt & Road” infrastructure.
The researchers, from the World Bank, Harvard Kennedy School, AidData, and the Kiel Institute for the World Economy, found that almost 80 per cent of the rescue lending was made between 2016 and 2021, primarily to middle-income countries such as Pakistan, Argentina, and Mongolia. However, lending has decreased since 2016 as many projects failed to generate expected financial dividends.
The report also highlighted that Beijing’s ultimate objective was to rescue its banks, which is why it engaged in the risky business of international bailout lending. Chinese loans to countries in debt distress increased from less than 5 per cent of its overseas lending portfolio in 2010 to 60 per cent in 2022.
Argentina received the highest amount of bailout money with $111.8 billion, followed by Pakistan with $48.5 billion and Egypt with $15.6 billion, while nine countries received less than $1 billion.
According to Reuters, the People’s Bank of China (PBOC) swap lines accounted for $170 billion of the rescue financing, including in Suriname, Sri Lanka, and Egypt. Bridge loans or balance of payments, supported by Chinese state-owned banks, amounted to $70 billion. Rollovers of both types of loans totaled $140 billion. However, the study criticized some central banks for potentially using the PBOC swap lines to artificially pump up their foreign exchange reserve figures.
China is currently negotiating debt restructurings with several countries, including Zambia, Ghana, and Sri Lanka. However, it has been criticized for holding up the processes. In response, it has called on the World Bank and International Monetary Fund to offer debt relief as well.
Pakistan Tehreek-e-Insaf (PTI) senior leader Fawad Chaudhry has said in an interview that the party respects Justice Qazi Faez Isa who is set to become the next Chief Justice of Pakistan (CJP) later this year.
In an interview with WE news, he said, “We have a relationship of respect with Justice Faez Isa”, adding that he disapproved the idea of filing a reference against the top judge.
He said when the current government files a reference against the judiciary, it means they want to put the judges under pressure.
“The government must allow the judiciary to function independently,” he asserted.
In 2020, Justice Faez was accused of concealing assets and PTI filed a reference against him. Justice Isa then asked the Supreme Court that a full bench be constituted, a plea that was accepted by then CJP Asif Saeed Khosa and after a months-long trial, a full bench of the apex court dismissed the petition against him.
Later, Khan himself accepted his mistake of filing a presidential reference against the judge.
During the interview, Fawad Chaudhry once again said that the former ruling party is ready for talks. He mentioned that the Chief of Army Staff (COAS) General Asim Munir has also talked about the consensus but as of yet no effort has been made.
Talking about PM Shehbaz, Chaudhry said that he is running from the elections and is being “non-serious”.
He claimed that “they [government] want martial law in the country”.
Education Minister Rana Tanveer Hussain took to the floor of the house in the National Assembly (NA) yesterday and passed disparaging remarks in a speech directed at former Prime Minister Imran Khan.
Talking about how police had forcefully entered the hotel room in which Pakistan Muslim League-Nawaz (PML-N) Senior Vice President Maryam Nawaz was staying during Imran Khan’s tenure to arrest her husband, Captain (retd) Safdar, Tanveer said, “Wasn’t our daughter Maryam alone in the hotel when the doors of her room were broken? Why are there different standards for your [Imran Khan] wife [Bushra Bibi], did she not elope with you? This is far bigger family than you.”
Meanwhile, Defence Minister Khawaja Asif can be seen in a video banging the desk and laughing on Tanveer’s comment.
“You [Imran Khan] are the son of a corrupt man. I remember there was a wedding I [Rana Tanveer] attended and his [Imran Khan] father was there too. Imran Khan was sitting there too. A person asked his father if he was his son? Khan’s father replied that kehnay ko tu mera baita par hai haramda [Yes he is my son but he is illegitimate]. These were his [Khan’s father’s] words.”
Twitter rebuked Tanveer and schooled the education minister, saying that he should give up his position in the government with due respect for passing such remarks.
یہ کیسی بیہودہ زبان ہے جو رانا تنویر رمضان میں پارلیمنٹ میں استعمال کر رہے ہیں؟؟ کوئی تو بندہ اپنے عہدے کا لحاظ کرتا ہے۔۔
Unbelievable really. This is melting of our political discourse. Complete absence of morality here. Rana Tanveer calling Imran that word ’ & attributing it to his father is categorically condemnable. You fight dirty in power corridors, not by dragging people’s families like this pic.twitter.com/V96ryseznR
I am extremely disgusted to hear such language being used in Parliament. There should be some norms in place to ensure that members are respectful to each other, and anyone who doesn’t follow these norms should be asked to leave the floor. https://t.co/HVVYjQmDtq
Qudsia Ali has been on a roll- with her spectacular performance in ‘Betiyan’ and now as Taniya in ‘Kuch Ankahi’, she has been recieving rave reviews for her performance as the headstrong, youngest daughter of the family who actively pursues her dream to become a filmmaker.
Recently in a talk with Fuchsia Magazine, Ali opened up about how she struggles with criticism about her weight. She revealed that a lot of feedback she received at auditions was about her weight:
“Whenever I would go for auditions, I was told directly if I wish to come on to the main screen, then I would have to lose weight. But if we look at international work, you see people with different skin tones and body types, no one cares about such things because it is your skills that matter. Then why is it so important here?”
Ali revealed that she had recently started losing weight, but did it more for the sake of her health rather than to please the critics because she doesn’t want to change herself to prevent standing out, alluding to a remark made about her curly hair:
“I will never lose weight because of someone’s criticism, but I started this journey because I cared about my own health, to stay fit and healthy. Not for work, industry or for anyone.
People often tell me that I look overweight in scenes because of my hair, and I should get keratin treatment. No! This is how I stand out from other people. How many people do you know who have curly hair? If I’m going to find work based on my skills, then I will find it. I’m going to wait for that. I’m someone who can wait.”
Ali opened up that in the beginning of her career, hearing such negative feedback sometimes took a toll, but eventually with a positive mindset, especially with the help of colleagues like Sajal Aly, she was able to let it go and keep doing what she liked:
“In the beginning of my career, whenever I heard comments like these I had thought sometimes to listen and change my appearance. But what is the guarantee that after changing your appearance you will find work? You become slim and straighten your hair, whats the guarantee that you will find work?.. This was my own thought process. Ahmed saab and Sajal Aly would advice me a lot that I should do what makes me happy, rather than for others.”
The European Union (EU) has officially removed Pakistan from its “List of High-Risk Third Countries” due to the country’s successful implementation of measures to address the strategic deficiencies in their Anti Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime. This means that Pakistani businesses and individuals will no longer be subjected to “Enhanced Customer Due Diligence” by the EU’s legal and economic operators.
According to the delegated regulation, Pakistan has remedied the strategic deficiencies in its AML/CFT regime and no longer poses a significant AML/CFT threat to the international financial system. This decision has led to the removal of Pakistan from the list of nations with strategic deficiencies in their respective AML/CFT frameworks, and they do not pose a significant threat to the financial system of the European Union.
As a result of this decision, the “Obligated Entities” in EU member states would no longer be required to apply “Enhanced Customer Due Diligence” while dealing with individuals and legal entities established in Pakistan. The “Obligated Entities” include credit institutions, financial institutions, natural or legal persons acting in the exercise of their professional activities, auditors, external accountants, tax advisors, notaries, and other independent legal professionals.
Pakistan was initially included in the “List of High-Risk Countries” on October 22, 2018, by the EU. However, the decision to remove Pakistan from the list will add to the comfort level of European economic operators and is likely to ease the cost and time of legal and financial transactions by Pakistani entities and individuals in the region. The UK had previously removed Pakistan from its high-risk list in November 2022.
Shadab Khan, skipper for the Afghanistan T20 series, has said that even though Pakistan lost, the team achieved its goal of getting experience under the belt of the younger lot of players.
“The conditions are really tough and it is not easy to bat in such conditions but I am happy that youngsters learned a lot from this series and they are quick learners,” said the substitute captain.
Shadab stressed that as captain his only demand from youngsters is that they should have never give up, adding that his team really impressed him in the third match.
“The motive of this series was to prepare our bench strength and we have achieved this motive,” he said in a post-match press conference after Pakistan sealed a consolation win in the third T20I on Monday. “Unfortunately the young players could not perform as we expected from them but definitely this new talent will prove beneficial for Pakistan in the future.”
Joined by Saim Ayub, who scored 49 from 40 to help Pakistan set a massive 183-run target, the Pakistan captain hailed youngsters for their outstanding fightback under pressure and for outclassing the opponents in the competition.
“We’re happy that we prevailed in this match and answered the criticism happening against us in the media” Saim, however, disclosed that the captain and team management had given constant support to the youngsters throughout the series. “Obviously one undergoes a tremendous amount of pressure when he plays for his country for the first time,” said the 20-year-old.
“But I am happy that finally, I was able to score some runs after failures in the first two matches” he added.
The skipper, however, went on to suggest that the top performers of the series should be given a chance in the future as well.
“We must continue to support these new players as they all are very highly talented,” he requested to the nation.
It may be noted here that left-handed opener Saim Ayub’s sensible knock and a combined dominant effort by the bowlers led Pakistan to a 66-run victory in the third T20I and finished the series 2-1 against Afghanistan.
The national team suffered consecutive defeats after the inexperienced batting lineup slumped to batting collapses in the first two T20Is.
