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The rupee slipped to an all-time low against the dollar, falling by 3.02 per cent in the interbank market on Thursday, a...
11/05/2023

The rupee slipped to an all-time low against the dollar, falling by 3.02 per cent in the interbank market on Thursday, apparently after the political situation deteriorated further.

The violent protests provoked by the PTI chairman’s arrest entered the third day on Thursday, as an accountability court in Islamabad handed over the custody of Imran Khan to NAB for eight days in connection with the Al Qadir Trust case.

The PKR was being traded at Rs299 per dollar in the interbank market around noon, a decline of Rs.8.78 from yesterday’s close of Rs290.22.

The open market reported the dollar rate at Rs301, around Rs4 higher than the previous day.
Malik Bostan, chairman, Forex Association of Pakistan, said the political unrest in the country, Pakistan’s absence on the staff level agreement meeting agenda by the International Monetary Fund (IMF) as well as yesterday’s report of decrease in remittance by 12pc were behind the steep decline in the local currency.

Bostan added that these factors have decreased buyer confidence and the importers were panic buying.

Pakistan’s absence on the IMF agenda meeting means that the country may not get the loan tranche by June, which increases it’s chances of default.

Analysts and researchers said the exchange rate would further deteriorate in the coming weeks since the worsening political situation had provided valid reasons for donors like the IMF to stay away until and unless the situation calms down.

The mobile broadband internet services on Thursday remained suspended for the consecutive third day in several parts of ...
11/05/2023

The mobile broadband internet services on Thursday remained suspended for the consecutive third day in several parts of the country in the aftermath of the riots triggered by the arrest of PTI Chairman Imran Khan, causing a loss of Rs1.6 billion to telecom companies.
The government suffered a loss of Rs570 million in revenue from telecom companies as well.
The suspension is affecting e-commerce, online services, home delivery and ride-hailing apps too.
Lahore High Court’s Justice Abid Aziz Sheikh sought replies from the federal government and Pakistan Telecommunication Authority (PTA) by May 22 in a plea seeking directions to restore the internet services and resume the operations of social media platforms including WhatsApp, Facebook, Twitter and Instagram.
However, Justice Sheikh turned down the petitioner’s request to grant interim relief by immediately passing directions to restore the internet services.

LAHORE:A writ petition was filed on Wednesday in the Lahore High Court (LHC) to restore internet services and social med...
10/05/2023

LAHORE:
A writ petition was filed on Wednesday in the Lahore High Court (LHC) to restore internet services and social media platforms, including Twitter, Facebook, and YouTube in the country which were disrupted after protests broke out following the arrest of Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan yesterday.
The petition stated that the court is requested to declare the impugned blockage as arbitrary, illegal, unlawful, and constitutional which is tantamount to depriving the public of their basic right.

The petition was filed by petitioner Abuzar Salman Khan Niazi who made respondents the Federation of Pakistan through secretary ministry of information technology and telecommunication, Pakistan Telecommunication through its chairman, CM Pak Limited through its CEO, Pakistan Telecom Mobile Limited and others.

He contended in the petition that on May 9, the PTI chief was arrested but soon after his arrest, countrywide protest started as a result of which the internet service was blocked

ISLAMABAD:Announcing its reserved verdict, an anti-graft court approved on Wednesday eight-day physical remand of Pakist...
10/05/2023

ISLAMABAD:
Announcing its reserved verdict, an anti-graft court approved on Wednesday eight-day physical remand of Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan in the Al-Qadir Trust case.
Accountability court judge Muhammad Bashir conducted the hearing of the case at the New Police Guest House earlier in the day, wherein the National Accountability Bureau (NAB) presented the reasons behind the former prime minister's arrest, and sought his 14-day physical remand.
However, Imran's legal team opposed the NAB's request. His lawyer Khawaja Harris maintained that the PTI chief will cooperate in the investigation and that there was "no need for a physical remand"

The hearing

During the hearing, the NAB prosecutor told the accountability court that the arrest warrant was shown to Imran Khan at the time of his arrest.

However, the PTI chief maintained that he was shown the warrant when he reached the NAB office.

In his arguments, the NAB prosecutor told the court that “this is a case of corruption which was investigated by National Crime Agency (NAC) of the UK.”

“The money in this case was to be transferred to the government of Pakistan,” he added.

Haris argued that, “My client was illegally arrested.” “Proper method was not adopted to arrest Imran. [The] NAB sent a notice, but when did it convert the complaint into a reference?” he questioned.

The lawyer maintained that “Imran is also being dragged in many other cases”, adding that “my client will join the investigation and cooperate in it”.

The court later reserved its verdict

ISLAMABAD: In a shocking incident, Federal Minister for Religious Affairs and Interfaith Harmony M***i Abdul Shakoor pas...
15/04/2023

ISLAMABAD: In a shocking incident, Federal Minister for Religious Affairs and Interfaith Harmony M***i Abdul Shakoor passed away in a road accident in the federal capital, the capital's police said Saturday.

Police told Geo News that the incident occurred shortly around iftar (evening) when the federal minister was headed towards Secretariat Chowk from a local hotel.
In a statement, the capital's police said the minister was driving the car himself when a Hilux Revo — with five people onboard — smashed his vehicle at the driver's side.

The federal minister was shifted to Polyclinic Hospital in the federal capital, but due to severe internal bleeding, he succumbed to his wounds, the police said.

Senior police officers, according to the police, have arrived at the scene of the crime, and the people in the vehicle that smashed the federal minister's car have been arrested. Two of the five men are injured.

Islamabad Inspector-General Dr Akbar Nasir Khan, Minister for Information Marriyum Aurangzeb, and other federal ministers have also reached the hospital, where Shakoor breathed his last.

Babar Azam and Mohammad Rizwan, Pakistan's spectacular opening pair, rewrote record books as they smashed most 50+ partn...
15/04/2023

Babar Azam and Mohammad Rizwan, Pakistan's spectacular opening pair, rewrote record books as they smashed most 50+ partnerships after taking New Zealand's bowlers to the sweepers in the second T20I of the five-match series in Lahore on Saturday.

This was the 19th 50+ partnership between the skipper and the wicket-keeper-batter in T20Is — the most by any pair in this format.
They are followed by India's Rohit Sharma and KL Rahul with 15 partnerships of 50+.

Israeli troops have fatally shot a 15-year-old Palestinian boy and wounded two other people during an arrest operation i...
11/04/2023

Israeli troops have fatally shot a 15-year-old Palestinian boy and wounded two other people during an arrest operation in a West Bank refugee camp, as tensions continued to escalate in the occupied territories.

Mohammed Balhan was shot in the head, chest and abdomen in the Aqabat Jabr camp near Jericho, according to local Palestinian official Hani Obeidat, who called it an “unjustifiable crime”. A video showed him lying dead on a stretcher in the hospital, his head bandaged and his mother wailing as she leaned over his body..

The Islamic world should be united against Israel’s attacks in Palestine, Turkish President Recep Tayyip Erdogan told hi...
08/04/2023

The Islamic world should be united against Israel’s attacks in Palestine, Turkish President Recep Tayyip Erdogan told his Iranian counterpart on Friday.

Erdogan and Ebrahim Raisi spoke over the phone and discussed Türkiye-Iran relations and regional issues, including Israeli attacks on Al-Aqsa Mosque in the occupied East Jerusalem, Türkiye’s Communications Directorate said in a statement.

Pakistani Umpire Aleem Dar officially steps down from the ICC Elite Panel of Umpires after 19 years on Friday. Dar recei...
08/04/2023

Pakistani Umpire Aleem Dar officially steps down from the ICC Elite Panel of Umpires after 19 years on Friday. Dar received Guard of Honor from players and match officials following the one-off match between Bangladesh and Ireland.

The match ended in a seven-wicket win for Bangladesh. At the end of the game, players from both teams stood on both sides to give him the Guard of Honor. He has been a member of the Elite Panel since 2002 and has officiated more ODIs and Tests than any other umpire.

Aleem Dar also has a record of officiating 436 international matches including four World Cups. ICC confirmed his exit from the panel on 16th March 2023 in a press release.

President Dr Arif Alvi refused to assent to the bill recently passed by the two houses of parliament, seeking to curtail...
08/04/2023

President Dr Arif Alvi refused to assent to the bill recently passed by the two houses of parliament, seeking to curtail the powers of the Chief Justice of Pakistan (CJP).
Alvi who belongs to Pakistan Tehreek-i-Insaf (PTI), has returned the controversial Supreme Court (Practice and Procedure) Bill 2023, using his powers under Article 75(1) of the Constitution.
Dr Alvimaintained that Constitution was founded on the concept of trichotomy of power. The Supreme Court of Pakistan is an independent institution as visualized by the founding fathers. “With such an objective in view, Article 191 was incorporated and the Supreme Court was kept out of the law-making authority of the parliament.

Pakistan, currently tackling a major economic crisis, is grappling with high external debt, a weak local currency and dw...
08/04/2023

Pakistan, currently tackling a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves.
Pakistan needs to repay a whopping USD 77.5 billion in external debt from April 2023 to June 2026 and the cash-strapped country may face "disruptive effects" if it ultimately defaults, a prominent US think tank has warned.

The attacks come after a major rocket barrage on Israel from Lebanon, which the Israelis blamed on Hamas.Tensions are hi...
07/04/2023

The attacks come after a major rocket barrage on Israel from Lebanon, which the Israelis blamed on Hamas.Tensions are high after Israeli police raided Jerusalem's Al-Aqsa mosque on consecutive nights earlier this week.

The mosque is Islam's third holiest site, and the Israeli raids have triggered violent confrontations with Palestinians inside and caused outrage in the wider region.

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