3D Pakistan

19/09/2022

The dollar held firm near two-decade highs against other major currencies on Monday, biding its time ahead of a slew of central bank meetings that will include one by the United States Federal Reserve that is likely to deliver another hefty rate hike.

Trade was generally subdued, with markets in London and Tokyo closed for public holidays.

Still, the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive rate-hike path to contain uncomfortably high inflation.

The dollar index, which measures the currency against six counterparts, was 0.4 per cent stronger at 110.06, heading back towards a 20-year high of 110.79 hit on Sept 7.

“A while back there was talk that the Fed was close to being done with rate hikes, but that was premature,” said Nordea chief analyst Jan von Gerich. “The Fed is not close to being done and that is supportive for the dollar.”

Since data last week showed a broadening in underlying US consumer prices rises, markets have entertained the possibility of a 100 bps rate hike when the Fed concludes its two-day meeting on Wednesday. Markets fully price in a 75 basis point Fed rate hike this week and a roughly 20pc chance of a 100 bps increase.

This week is also smattered with holidays that could thin liquidity and result in sharper price moves, with Japan and Britain off on Monday, Australia on Thursday, and Japan again on Friday, among others.

The euro was 0.4pc lower at $0.997, sterling slipped 0.3pc to $1.139 and kept Friday’s 37-year lows in sight, while New Zealand and Australian dollars were down more than 0.5pc each.

Markets are split on whether the Bank of England will raise interest rates by 50 or 75 basis points on Thursday. Monetary tightening could clash with new British Finance Minister Kwasi Kwarteng’s emergency mini-budget, which is expected on Friday and will likely give more details on support to help ease the country’s cost-of-living crisis.

Canada’s dollar in early European trade fell to its lowest in almost two years at 1.331 per US dollar.

The dollar was also 0.4pc firmer at 143.46 yen, hovering beneath a strong resistance level at 145 that has been reinforced by Japanese policymakers’ toughened talk of currency intervention.

The BOJ is widely expected to stick with massive stimulus at its meeting on Wednesday and Thursday, keeping its ultra-loose policy in place. But a turning point in Japanese monetary policy may come sooner than has been thought, with the central bank recently dropping the word “temporary” for its description of elevated inflation.

China’s yuan kept to the weaker side of seven per dollar as economic worries and the possibility of more benchmark interest rate cuts loomed on Tuesday.

Bitcoin, the biggest cryptocurrency by market value, fell to a three-month low below $19,000, as unease over rising interest rates globally knocked risk assets.

19/09/2022

The Islamabad High Court (IHC) on Monday ordered the removal of terrorism sections from a case registered against PTI Chairman Imran Khan over his remarks against Additional Sessional Judge Zeba Chaudhry and officials of the Islamabad Police during a rally in Islamabad last month.

A two-member IHC bench headed by IHC Chief Justice Athar Minallah announced the verdict. The court ordered that proceedings on the other sections in the case would continue in the relevant forum.

The PTI chief had made the controversial remarks during a party power show in the capital on August 20 and was subsequently booked for “terrorism” under Section 7 of the Anti-Terrorism Act.

Another case was registered against the former premier for violating Section 144. However, new sections were later added to the FIR, against which the PTI chief had approached the court.

The section added to the FIR later were Section 504 (intentional insult with intent to provoke breach of peace), 506 (punishment for criminal intimidation), 186 (imprisonment for three months), and 188 (disobedience to an order lawfully promulgated by a public servant) of the Pakistan Penal Code.

Controversial comments
At the Islamabad rally on August 20, Imran had warned the judiciary against its “biased” attitude towards his party, saying that it should brace itself for the consequences.

The former prime minister had also warned additional district and sessions judge Zeba Chaudhry, who had approved the two-day physical remand of his aide Shahbaz Gill’s on the request of the capital police in a sedition case, that she, too, would face dire consequences.

Moreover, the PTI chief had threatened to file cases against Islamabad’s inspector general of police and deputy inspector general of police, saying, “We won’t spare you.”

08/09/2022

06/09/2022

KARACHI: An Afghan boy, who had gone missing on Sunday, was sexually assaulted and murdered in Gulshan-i-Maymar on Monday, police said.

The incident prompted the city police chief to order an investigation team, led by the DIG-West, to ensure arrest of the ‘brutal’ killers within three days.

The police said the trussed-up body of the five-year-old boy was found in a hilly area off Northern Bypass near Afghan Basti.

Gulshan-i-Maymar SHO Bashir Wadho said that the body was shifted to the Abbasi Shaheed Hospital (ASH) for a post-mortem examination.KARACHI: An Afghan boy, who had gone missing on Sunday, was sexually assaulted and murdered in Gulshan-i-Maymar on Monday, police said.

The incident prompted the city police chief to order an investigation team, led by the DIG-West, to ensure arrest of the ‘brutal’ killers within three days.

The police said the trussed-up body of the five-year-old boy was found in a hilly area off Northern Bypass near Afghan Basti.

Gulshan-i-Maymar SHO Bashir Wadho said that the body was shifted to the Abbasi Shaheed Hospital (ASH) for a post-mortem examination.

06/09/2022

KARACHI: The brave Pakistan Air Force (PAF) pilots are not the only heroes of the 1965 war being commemorated at the PAF Museum’s Archives Gallery. Their powerful machines, their fighter jets, are also given significance and respect on the occasion of the 57th Defence Day of Pakistan.

There is the single-seat F-86 Sabre in which Air Commodore M.M. Alam shot down five enemy planes in a single sortie gracing the gallery floor.

M.M. Alam was one of Pakistan’s best fighter pilots. He shot down four of the five Indian jets within 30 seconds of his mission on Sept 7. Throughout his career, the pilot downed some nine Indian fighter aircraft and damaged two, a record which remains unbeaten to date. His courage and valour earned him the Sitara-i-Jurat twice.

There is also the F-104 Starfighter that flew a total of 246 hours and 45 minutes during the 1965 Pakistan-India War.

Wing Commander Abhinandan’s uniform and the remains of his MiG 21 are not the only war trophies here. There is also the Indian Air Force (IAF) Gnat that surrendered at Pasrur near Sialkot in 1965 along with a picture and memories of its captured Indian pilot Sqn Ldr Brij Pal Singh, who later rose to be an air marshal in the IAF.

The Indian Gnat was forcibly landed by the Pakistani F-104 Starfighter. It was on Sept 3, 1965 that two Starfighters flown by Flt Lt Hakimullah and Flg Off Abbas Mirza, which took off from Sargodha, intercepted four Indian Gnats of which one was made to surrender.

For the record, to date, India has not a single Pakistani fighter jet to show as their war trophy.

05/09/2022

Mohammad Nawaz wants to be a “proper all-rounder” after his batting blitz set up a thrilling win for Pakistan against arch-rivals India in the Asia Cup Super Four.

Chasing 182 for victory, Pakistan achieved the target with one ball and five wickets to spare in Dubai after Mohammad Rizwan hit 71 and Nawaz made 42.

Nawaz, a left-arm spinner who usually bats at eight but was promoted to number four, joined Rizwan when the score was 63-2 and the two put on a key stand.

The 28-year-old Nawaz smashed six fours and two sixes in his 20-ball knock to put the chase on track.

04/09/2022

Former Bangladesh captain Mushfiqur Rahim announced his retirement from Twenty20 international cricket on Sunday, three days after the team’s unceremonious exit from the Asia Cup.

“Today, I am announcing my retirement from T20 internationals,” Mushfiqur, 35, said in statement on social media.

“I will proudly continue to represent Bangladesh in Test and ODI formats. I am hopeful that I can bring success for our nation in these two formats,” he added.

Mushfiqur added that he would continue to take part in the Bangladesh Premier League and other Twenty20 franchise tournaments.

04/09/2022

unterparts in the Asia Cup Twenty20 tournament.

The arch-rivals, who only play each other in multi-nation tournaments due to political tensions, will clash in the Super Four stage of the Asia Cup in Dubai on Sunday.

It will be the second meeting for the two Asian giants in the competition after India edged out Pakistan in the group stage.

“They are a good bowling side, but we also bowled well to restrict them to 147 (in the first match),” Dravid said on being asked whether Pakistan have a better bowling line-up.

“End of the day bowling analysis is the most important thing. You are judged by the results you produce. I respect their bowling but I am very confident that we have a good bowling attack that produces results.”

The former captain, on the eve of the high-profile match told reporters: “(Our bowling) might not look very glamorous but in terms of results we got some guys who produce results.”

Pace bowler Avesh Khan remains doubtful for the key clash.

“Avesh has been under the weather but hopefully he should be okay for tomorrow or for the later part of the tournament,” said Dravid.

India’s bowling, led by experienced seamer Bhuvneshwar Kumar, have Arshdeep Singh and Hardik Pandya as pace options followed by spinners Yuzvendra Chahal and Axar Patel, who replaced the injured Ravindra Jadeja.

Dravid believes high-pressure matches against Pakistan remain a good test for the team ahead of the T20 World Cup in October-November.

“We know Pakistan is a good team and it is a challenging match,” said Dravid.

“It will be a packed stadium and there is always an edge to these games and it’s good to play such games where you are tested. It’s good to play such tournaments before the World Cup.”

Pakistan suffered injury blows with three of their fast bowlers including ace quick Shaheen Shah Afridi, but Naseem Shah’s express pace has kept the opposition batsmen wary.

Pace bowler Haris Rauf insists the 19-year-old Naseem, who has taken four wickets in two matches and clocks speeds of over 90 mph, has given him confidence despite Shaheen’s absence.

“The way Naseem bowled in the last two matches, that has given me the confidence,” said Rauf.

“Partnerships are important in bowling as well. I have been playing with Shaheen for a while. I used to be relaxed when Shaheen is around. But seeing Naseem, I am getting the situation I am comfortable to bowl in.”

04/09/2022

ISLAMABAD: The government has estimated that the economy suffered a loss of $10 billion to $12.5 billion in the floods. Inflation is projected to go up in the range of 24 to 27 percent on an touch 30 percent for the current fiscal.

03/09/2022

ISLAMABAD: Prime Minsiter Shahbaz Sharif on Saturday announced that the government will have the PM Flood Relief Fund audited by the Accountant General Pakistan Revenues (AGPR) and a private audit firm of "global standing".

The government’s decision comes as a measure to ensure transparency which PM Shahbaz wrote about on Twitter.

30/08/2022

KARACHI: The federal government has estimated a loss of at least $10 billion caused by weeks of torrential rains and subsequent floods, with Sindh, in particular, suffering damages of over $1.6bn (Rs355bn) as all major crops have been destroyed.

Speaking to the media, Finance Minister Miftah Ismail shared the damages estimate, saying the economic impact of floods would be at least $10bn, which is roughly translated to three per cent of the Gross Domestic Product (GDP) of the country.

24/08/2022

The high-intensity clash between Pakistan and India is around the corner and the teams have also landed in Dubai.

Pakistan has been rated as favorite after their dominating 10-wicket win against the arch-rivals in last year's T20 World Cup.

Ahead of the blockbuster tie, former Pakistan captain and legendary pacer Wasim Akram was asked to pick a player from the Indian team that could really hurt Pakistan. And while Rohit, Kohli and KL Rahul were obvious choices, Akram named Suryakumar Yadav as 'one of his favorite players' from the current era.

Suryakumar made his India debut in March 2021 and has since gone on to become a main figure of the Indian batting order. Akram, who had worked with Suryakumar back at the Kolkata Knight Riders back in the day, recalled his memories of SKY, explaining how some of the shots he played had left him speechless.

"Of course, Rohit Sharma, KL Rahul and Virat Kohli are there, but one of my favorite players these days, in this shorter format is Suryakumar Yadav. He has been phenomenal. I saw him the first year when he joined the Kolkata Knight Riders and he played a couple of games batting at No. 7 and 8. And a couple of shots he played – the one that he picks from the middle of his bat towards fine leg – that’s an unusual and difficult shot to muster," said in a press conference organized by Star Sports, the official broadcaster of Asia Cup 2022.

In 23 T20Is, Suryakumar has scored 672 runs at an average of 37.33 with five half-centuries and a very recent hundred – 117 in a closely-fought match against England at The Trent Bridge.

He was made to open the innings with Rohit against the West Indies, where he put up scores of 11, 76 and 24, and although the chances of Suryakumar opening in the Asia Cup are less, Akram reckons by batting at No. 4, the guy can inflict some serious damage on not just Pakistan but on the rest of the sides as well.

"And since he has made it to the Indian squad, he has been a treat to watch. I think he is a very dangerous player against either spin or fast bowlers once he sets in and he is actually 360-degree player who can play either this side, that side… the lap shot, towards cow corner, equally good against spinners," added Akram.

24/08/2022

The deficit of the Pakistan Railways (PR) has risen to Rs45 billion as the state entity continues to suffer losses amid dwindling revenues and ballooning pension bills – a great chunk of which remains unpaid.

Sources said the employees from grade-1 to grade-9 have not yet received their salaries for the current month and are facing severe difficulties due to non-receipt of their pay.

Furthermore, class-IV employees of the loco shed, washing lines and open line have also not received their monthly salary.

“Employees are growing increasingly tired of having to become a shuttlecock between the Railways Accounts Department and banks,” sources revealed and added that the PR's revenues are also drying up due to which train operations are also facing issues on a daily basis.

It is estimated that more than 150,000 Railway pensioners from across the country have not been able to receive their payments yet and several serving employees still have not been given their general provident (GP) fund for months.

Retired officers and employees of Railways belonging to eight divisions across the country – from Grade 1 to 21 – are facing severe difficulties due to non-receipt of pension money.

On Monday, Adviser to Federal Ombudsman Regional Office Karachi Haroon Ahmed Khan directed PR officials to resolve complaints of retired employees regarding the delay in issuance of pensions at the earliest.

During the visit to Karachi Cantt Railway Station, the adviser also called for more arrangements of drinking water for passengers and sanitation on platforms, waiting halls, reservation centres and other facilities.

The adviser along with the regional office’s focal person for media Taqi Muhammad Soomro and other officials inspected waiting rooms, platforms, help desk, water filtration plants and coolers, railway police help centre, first aid centre and reservation counters to review facilities and services being provided to passengers

Earlier this month, it was reported that the Pakistan Railways was preparing to inspect prototype models of the state-of-the-art passenger coaches and high-capacity freight wagons it wants to procure from a leading Chinese company.

Several junior and senior officials were to travel to China soon to inspect the models and take part in training being organised by the Chinese firm as a part of two different contracts to transfer technology of manufacturing modern coaches in Pakistan.

Around 93 officers and employees of the department were said to be entrusted with the task to inspect 230 bogies worth $149 million being imported from the friendly neighbouring country.

24/08/2022

The PTI-led government in Khyber-Pakhtunkhwa (K-P) on Tuesday booked leaders of the Pakistan Democratic Movement (PDM) for their “hateful and seditious statements” against the state institutions.

The first information report (FIR), a copy of which is available with The Express Tribune, was registered at the Sharqi police station under Section 196 (prosecution for offences against the state) of the Code of Criminal Procedure (CrPC) and sections 153-A (promoting enmity between different groups), 108-A (abetment in Pakistan of offences outside it) and 505 (statements conducive to public mischief) of the Pakistan Penal Code.

The application nominated PML-N leaders Nawaz Sharif, Shehbaz Sharif, Maryam Nawaz, Khawaja Saad Rafique, Rana Sanaullah, Atta Tarar, Ayaz Sadiq, Pervaiz Rashid and JUI-F head Maulana Fazlur Rehman.

The complainant, a lawyer by profession, said, “Hateful remarks against the country have been passed by the PDM leaders in the past in an attempt to damage the institutions and sovereignty.”

He alleged that the "provocative" statements against the judiciary and military had since been widely circulated on social media and were viewed by a large number of people across the globe. Like all other patriots, he continued, he was deeply hurt by the statements which, according to him, were passed at the behest of enemy country.

Meanwhile, Dera Ismail Khan Additional Assistant Commissioner Muneer Ahmad had been authorised under Section 196 of the CrPC to register the cases on the complaint of former federal minister and PTI leader Ali Amin Gandapur.

The development comes after sources revealed that the K-P government had been laying a legal groundwork against the PDM leaders.

On August 19, following the K-P cabinet’s approval, a notification by the provincial government’s administration department was issued.

However, the provincial government refrained from announcing its decision.

The notification states: “In exercise of powers conferred by Section 196 of the Code of Criminal Procedure, 1989 […] and in pursuance of the cabinet’s decision dated August 18, 2022, the government of Khyber-Pakhtunkhwa is pleased to empower Muneer Ahmad, additional assistant commissioner, DI Khan to receive written complaint(s) from Ali Ameen Gandapur or any other interested party and require local police to lodge FIR(s) under sections 108-A, 153-A and 505 of the Pakistan Penal Code, 1860 read with any other enabling provisions of law and to sanction and pursue such cases within his respective jurisdictions with effect from August 18, 2022.”

Earlier in the day, Special Assistant to the K-P Chief Minister Barrister Mohammad Ali Saif confirmed the development, saying that the K-P government, where the PTI is at the helm of affairs, has decided to book PDM leaders for their "hateful statements"

The move comes after former prime minister Imran Khan was booked under the anti-terrorism act on Sunday.

24/08/2022

On Tuesday, the ‘Boohey Barian’ singer requested her Instagram followers to do their part and contribute. “I request the people of Pakistan to step forward and help our Baloch people who are shelter-less and going through the most painful time of their lives. Together we can face it and help in these catastrophic times,” she captioned a video of her at work.

24/08/2022

The PKR continued falling for the third straight session on Wednesday, declining by Rs1.34 against the dollar in the interbank market.

Data shared by the Forex Association of Pakistan (FAP) showed the local currency had fallen to Rs219 per dollar by 12:35pm, down 0.61 per cent from yesterday’s close.

Malik Bostan, who heads the FAP, said demand for the dollar had risen after the government lifted the ban on the import of non-essential and luxury items, and for use in the Afghan transit trade. On the other hand, exchange companies’ dollar supply had dwindled because of the government’s directives to all passengers of international flights to submit declaration forms detailing, among other things, the currency they are carrying.

“Previously, people used to sell $15 million worth of foreign currency at exchange companies’ counters every day. Now, this amount has been reduced to $5m per day,” he said.

23/08/2022

Prime Minister Shehbaz Sharif on Tuesday announced that 17 million of the total power consumers will be exempted from paying the high fuel charges adjustment (FCA) in their electricity bills.

In a video address from Qatar, where he is on a two-day trip, the prime minister explained the mechanics behind why FCA was levied and said it had seen a "considerable increase" for July and August's power bills, because of high international oil prices, which was "intolerable" for the common man.

He said that after consulting with the International Monetary Fund, PML-N supremo Nawaz Sharif and other coalition leaders, it was decided that 17.1m electricity consumers would not have to pay the FCA.

He added that the government was also reviewing the situation for the rest of the 13m power consumers who, PM Shehbaz said, were in a better financial position.

23/08/2022

India’s head coach Rahul Dravid has tested positive for Covid-19 and will join the Asia Cup squad later in the United Arab Emirates (UAE), the country’s cricket board said on Tuesday.

Dravid returned a positive result in a routine test carried out before the team’s departure for the UAE, Board of Control for Cricket in India (BCCI) Secretary Jay Shah said in a statement.

“Mr Dravid is under the supervision of the BCCI medical team and has mild symptoms.

“He will join the team once he returns with a negative Covid-19 report,” Shah said.

23/08/2022

Pakistan’s information technology company, Systems Limited, made history by being the country’s only tech firm to be awarded ‘Forbes Asia’s Best Under A Billion’ for the third time in a row.

Forbes Asia has recently compiled its annual list of the top 200 companies from the Asia-Pacific region with consistent top and bottom-line growth and under $1 billion in revenue.

23/08/2022

Pakistan in 17 years will begin in Rawalpindi on December 1, the hosts said on Monday as they announced the match schedule.

Dates for a seven-match Twenty20 series starting next month have already been announced, but an England squad will return for the long-awaited three-match Test series.

“We are pleased that Pakistan and England Test rivalry, which has historically produced close and tight matches, will return to our backyards in December,” Pakistan Cricket Board director Zakir Khan said in a statement.

22/08/2022

The federal cabinet on Monday approved the signing of an agreement between the state of Qatar and the Pakistan Army for the provision of security to the upcoming FIFA World Cup 2022 — the mega event being held in Qatar which is just 90 days away.

Two federal cabinet members confirmed that the summary pertaining to the agreement was part of the agenda of the cabinet and that the ministers gave their approval for the signing of the agreement.

The cabinet’s nod came after the Joint Staff Headquarters (JSHQ) proposed the signing of the agreement and the foreign ministry as well as the Directorate General of the Inter-Services Intelligence (ISI) expressed no objections to it.

22/08/2022

The Islamabad High Court (IHC) has taken notice of former prime minister and PTI Chairman Imran Khan’s statement in which he allegedly threatened additional sessions judge of the federal capital Zeba Chaudhry and decided to initiate contempt of court proceedings against him.

The decision was taken after consultation of the all IHC judges, Express News reported on Monday.

A three-judge IHC bench headed by Justice Mohsin Akhtar Kayani and comprising Justice Mian Gul Hasan Aurangzeb and Justice Babar Sattar will take up the case tomorrow (Tuesday).

20/08/2022

The FIA has decided to arrest Imran Khan if he failed to appear before the investigation committee or respond to the notices concerning the prohibited funding case