Pakistan News Archives - Page 7 of 10 - Cars,Bikes Specs & Autoparts - Find Car Prices, News Blogs & Reviews | All About Cars

September 29, 2022 / By Zunair Tahir / Pakistan News

Following a change in leadership at the Ministry of Finance and a warning from Ishaq Dar to the speculators using the local currency, the rupee appreciated versus the dollar on Thursday for the fifth straight trading day.

The dollar’s value in the interbank market dropped during intraday trade from the previous session’s finish of 232.12 to 231 per rupee.

ALSO READ: Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

The PML-N supremo Nawaz Sharif’s close aide Ishaq Dar’s reappointment as the nation’s finance minister has contributed to bettering sentiment, while the decline in global commodity prices fueled the rupee’s advance.

Dr. Khaqan Hassan Najeeb, an economist and former consultant to the federal ministry of finance, stated in an interview with Geo.tv that the first factor is a shift in market attitude brought on by a change in leadership at the finance ministry.

The previous advisor claimed that “the new team is viewed to be more sensitive of rupee movement and so leaning toward more orderly progress.”

Second, he pointed out that several fundamentals had improved, particularly the drop in oil and other important commodity prices, which may assist to lower the volume of imports.

Fortunately, the government’s administrative actions and the dropping global commodity prices will likely keep the current account deficit under control.

The rate of inflation has also likely reached its peak and is anticipated to decline during the ensuing months.

Dr. Najeeb added that the World Bank and the Asian Move Bank’s confirmation to give flood assistance is a market-supporting development.

The analyst went on to say that although it seems improbable, the potential for reconsideration and relaxation of some criteria by the International Monetary Fund (IMF) owing to the impact of the floods is boosting the rupee’s value.

The new finance czar asserts that the value of the local unit is undervalued and that he would try to control inflation by decreasing interest rates. He has firmly supported intervention in currency markets during his three prior tenures in the position.

Dar has also forwarded a warning to investors not to manipulate the currency markets.

Search

Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

September 29, 2022 / By Zunair Tahir / Pakistan News

Today in Islamabad, Professor Ahsan Iqbal, Minister for Planning, Development, and Special Initiatives, presided over a National Price Control and Monitoring Meeting to evaluate the progress of the decisions made at the previous NPMC meeting.

There were officials from the Ministry of Finance, line ministries, the FBR, the Trading Corporation of Pakistan, the Utility Stores Corporation of Pakistan, PASSCO, and the Chief Economist, Dr. Nadeem Javaid.

ALSO READ: Inauguration Of Ishaq Dar As New Finance Minister

The Minister evaluated the actions taken by the respective departments and the resultant impact on the trend in pricing of basic products in light of the recent floods that caused damage to staple food commodities like wheat, potatoes, tomatoes, and other crops.

Sensitive Price Index Report was presented by the Pakistan Bureau of Statistics (PBS) (SPI). According to reports, production of ten necessities—including power, tomatoes, LPG cylinders, bananas, garlic, pulse masoor, and cooking oil—has decreased during the last week.

Wheat was included in the report on commodities with rising prices. The estimate comprising 17 cities and derived from various provinces was also considered at the conference.

It should be mentioned that the Sensitive Price Index (SPI) is calculated on a weekly basis in order to examine the country’s price situation and gauge how vital commodities are changing in price over shorter time periods.

The Pakistani Competition Commission gave an analytical study on the nationwide profiteering phenomenon. The Minister gave the order to dissuade shops from making excessive profits and to implement real solutions in this regard.

Inauguration Of Ishaq Dar As New Finance Minister

September 28, 2022 / By Zunair Tahir / Pakistan News

**On September 28, 2022, Ishaq Dar of the PML-N swears in as the next finance minister.**

Ishaq Dar, a prominent member of the Pakistan Muslim League-Nawaz (PML-N), was sworn in as the nation’s new finance minister on Wednesday.

At the Aiwan-i-Sadr, the oath was delivered by President Dr. Arif Alvi. At the oath-taking event, attendees included Interior Minister Rana Sanaullah and Prime Minister Shehbaz Sharif.

ALSO READ: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

“To bear genuine faith and devotion to Pakistan,” Dar said at the event. “To fulfil its responsibilities honestly to the best of its capacity and truthfully in line with the Constitution of the Islamic Republic of Pakistan and the law.”

“I shall work to protect the Islamic ideology that served as Pakistan’s foundation. The new minister recited the words of the oath while reading it. “That I will not permit my personal interests to affect my official behaviour or my official choices,” he stated.

The action was taken when Miftah Ismail, a former finance minister, resigned from his position to make room for the PML-N senator.

Following a crucial party conference presided over by party leader and former prime minister Nawaz Sharif in London, the choice to choose Dar as the next finance czar was decided. Sen. sworn into office

Ishaq Dar took the oath of office as a senator on Tuesday amidst protests from Pakistan Tehreek-e-Insaf (PTI) MPs.

Dar took the oath of office from Senate Chairman Sadiq Sanjrani after returning to Pakistan earlier in the day after nearly five years in the UK on a “medical leave.”

While on trial for corruption in 2017, the PML-N leader had fled the nation.

Leaders of the PML-N greeted him by thudding their desks as he walked into the Senate hall.

However, PTI senators gathered around the chairman’s rostrum when he was taking the oath of office and yelled things like “absconder.”

Search

In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

September 27, 2022 / By Zunair Tahir / Pakistan News

Due to a substantial reduction in POL rates in foreign markets, petroleum product prices are expected to drop by up to Rs 15 starting on October 1st, according to industry sources on Tuesday.

According to estimations made by specialists in the oil business, the price of diesel may drop by Rs. 15 and that of gasoline may drop by Rs. 5 during the course of the next two weeks.

POL costs are anticipated to decline starting on October 1.
The cost of diesel may decrease by Rs 15.
Prices for gas might be reduced by Rs5.

ALSO READ: Current Fuel Prices In Pakistan

They stated that the new price will be determined based on the price of oil on the global markets through September 29.

“The POL prices will drop if the government chooses to keep the fuel levy at the existing percentage,” they continued.

The government is required to charge a fee on petroleum products as part of an agreement with the International Monetary Fund (IMF).

The application of a petroleum levy on gasoline is now set at Rs37.50 per liter and on diesel at Rs7.50 per litre, according to a notification released on September 1.

ALSO READ: Pakistan Suzuki Unveils the Alto VXR AGS With ABS

On September 21, the government raised the price of gasoline from Rs235.98 to Rs237.43 while maintaining the price of High-Speed Diesel (HSD) at Rs247.43.

Kerosene’s price was cut by Rs. 8.30, from Rs. 210.32 to Rs. 202.02, while light diesel oil’s price was cut by Rs. 4.26, from Rs. 201.54 to Rs. 197.28.

Gill Released After Being Detained For Many Weeks In A Sedition Case

Shahbaz Gill Released After Being Detained For Many Weeks In A Sedition Case

September 16, 2022 / By Zunair Tahir / Pakistan News

Shahbaz Gill, the former prime minister Imran Khan’s chief of staff, was granted release on Thursday after spending months in custody while awaiting prosecution for statements that were derogatory of the military.

He tweeted in Arabic shortly after his release, “Allah is sufficient for us and the best of those on whom to depend.”

“حَسْبُنَا اللَّهُ وَنِعْمَ الْوَكِيْلُ”
— Dr. Shahbaz GiLL (@SHABAZGIL) September 15, 2022

Pakistan’s Prime Minister Pledges To Compensate Flood Victims

September 15, 2022 / By Zunair Tahir / Pakistan News

ISLAMABAD — After the worst floods in the nation’s history, Pakistan’s prime minister assured the nation’s homeless population on Wednesday that the government would make sure they were compensated to rebuild and resume their lives.

Prime Minister Shahbaz Sharif, second from the right, converses with a youngster at a makeshift school in a tent in the Pakistani Baluchistan flood-stricken community of Suhbatpur. Following the nation’s worst-ever floods, Sharif pledged the nation’s millions of homeless people on Wednesday that the government would make sure they were compensated to repair their houses and resume their lives.

A half million people are living in camps as winter approaches after being evacuated by the flood, which damaged 1.7 million houses. Delivering food, tents, and money to the victims has been the government’s top priority up to this point. Since mid-June, the floods have claimed 1,481 lives, affecting 33 million people.

We’ll do everything we can to provide you with financial support so you may build new homes “Prime Minister Shahbaz Sharif spoke to a number of families residing in tents and temporary structures in the Baluchistan town of Suhbatpur. “The government will provide compensation to those who lost their houses and crops, “he stated during his remarks on television.

Under the town of Suhbatpur, where hundreds of schoolchildren were receiving assistance from UNICEF to study in a tent, Sharif also informed the students that a new school will be built there in the following two months.

“Pakistan has never seen such massive climate-related destruction, “Sharif stated to a group of attorneys on Wednesday in Islamabad. “Watching flooded villages, towns, and cities was awful.”

After 15 days, according to Sharif, Pakistan will enter its winter season, and the flood victims will face a new challenge: figuring out how to survive in the bitter cold when they were previously living in tents throughout the summer.

Even getting clean drinking water to flood victims has become difficult, he claimed.

70% of Pakistan’s wheat, cotton, and other crops were devastated by the floods. The government now claims that the economic toll is far higher than Pakistan’s initial estimate of $10 billion in losses. The world community, especially those responsible for climate change, has been encouraged by the UN to provide greater aid to Pakistan.

Thousands of people are now homeless as a result of the monsoon rains that destroyed entire communities, bridges, and highways. A third of the country’s land area was submerged under water at one time.

Unprecedented rain-related losses in Pakistan have been attributed by several analysts to climate change.

Sherry Rehman, Pakistan’s minister for climate change, stated to a group of MPs from the Asia Pacific on Wednesday in Islamabad that the threat posed by climate change, which “knows no boundaries,” is currently affecting the whole globe.

She urged cutting emissions to protect other nations from the harm that her country is already experiencing.

Overnight, Pakistan received its first shipment of Saudi Arabian help.

The United States and many other nations, including the United Nations, have already provided around 90 planeloads of aid.

In response to an urgent call for $160 million, member states have so far pledged $150 million, according to Julien Harneis, resident coordinator for the United Nations in Pakistan, who made the announcement during a news conference on Wednesday.

Search

Pakistan: Former Prime Minister Khan’s Party Battles Government Repression

August 25, 2022 / By Zunair Tahir / Pakistan News

After Khan was ousted in April of this year due to a no-confidence vote, the Pakistan Tehreek-e-Insaf (PTI) is under a great deal of pressure. The PTI is under pressure since they frequently attack the country’s strong military in their big demonstrations, accusing the generals of being behind the regime change, and they back the recently-installed Shehbaz Sharif administration.

Khan was charged after he delivered an aggressive speech to thousands of his supporters at a rally in the capital city of Islamabad, criticizing the arrest of his top aide and threatening the senior police officers and judge overseeing the case. Khan is a former cricketer who has since become a populist politician. He claimed that the cops had tortured his assistants.

Speaking to his fans on Saturday, Khan threatened them, saying, “We will bring cases against you and will not spare you.”

During his rallies and media appearances, Khan has made remarks that have been directed at Pakistan’s powerful military, police, and present government.

Khan has been given a three-day “transit bail” that prevents authorities from detaining him on terrorism-related accusations.

Thousands gather in front of Khan’s villa

On Monday, hundreds of PTI supporters gathered in front of Khan’s hillside home outside of Islamabad to show their support for their leader. If Khan is arrested, the PTI has threatened to bring the nation to a standstill through protests and rallies.

“Imran Khan’s arrest would trigger a widespread, violent backlash that would plunge the nation into anarchy. We gave this government a deadline warning. If you detain our leader Khan, millions of people will march toward Islamabad to overthrow this government “claimed Fakhar Zaman Sial, a lawyer who was seated next to Khan’s villa’s entrance.

“People have strong feelings for Khan, and it is absurd to file bogus charges against him. He’s a terrorist, right? No, he is a respected national leader on a worldwide scale. We won’t allow this to take place. Khan will have to be taken into custody in spite of our bodies, “added a different ally.

“Our devoted employees raced to Khan’s home early on Monday morning and prevented the arrest plot from succeeding. I got here on Sunday evening “Approximately 250 kilometer’s (155 miles) from Islamabad, in the Punjabi region of Sargodha, arrived Mohsin Raza, who spoke to DW.

“Khan and his party are currently under pressure, but it won’t last through the tenure of the current military leadership. If PTI survives this specific moment of duress, it will probably emerge considerably stronger as the nation’s unquestioned main party, “Political analyst Mosharraf Zaidi told DW.

Threlkeld asserts that the PTI lacks a leader with Khan’s degree of support and charisma who could lead the party, creating a vulnerability at the top were Khan to be sidelined, in the event that Khan is detained or excluded from politics for an extended length of time.

The immediate repercussions are likely to be a possibly deadly clash between Khan’s fans and the state, according to Afzal, but I think the party will unite around Khan, not choose an other leader. Khan’s party has stated that his probable arrest will be a “red line.”

Search

Shahbaz Gill Is Given Two-Day Physical Remand By The Magistrate

August 10, 2022 / By Zunair Tahir / Pakistan News

Shahbaz Gill, the head of the Pakistan Tehreek-e-Insaf (PTI), was brought before an Islamabad district and sessions court on Wednesday, where a judicial magistrate granted police two days of physical detention.

The PTI asserts that Gill was abducted rather than arrested, notwithstanding the government’s confirmation of his detention yesterday on charges of sedition and inciting the people against state institutions.

The police barred media from the courthouse earlier today, stating that the magistrate had ordered their exclusion.

In Three References, ECP Summons Imran Khan

August 6, 2022 / By Zunair Tahir / Pakistan News

Imran Khan is being asked to appear on August 23 at 10am by the electoral authority.

Imran Khan, the former prime minister and leader of the PTI, was served three notices by the Election Commission of Pakistan (ECP) on Friday inviting him to appear in three cases.

Khan received one notification from the commission over the foreign money case, whose decision was made public earlier this week. Imran has been called to appear before the electoral board on August 23 at 10am, according to the reason list it released.

READ MORE NEWS
Automotive News
Tech News
Business News
Entertainment News
Sport News
Pakistan News
Automation News

The warning was given following a unanimous ruling by the ECP in a case brought in 2014 by founding member of the PTI Akbar S. Babar, which determined that the PTI had received illegal funds, according to Geo.

Furthermore, the PTI chairman has received a new notice from the ECP calling him to appear in person on August 18 to hear a reference about his disqualification, at the request of the Pakistan Democratic Movement (PDM) leadership.

A day earlier, the coalition government submitted a reference to the ECP asking for the former premier’s disqualification. Barrister Mohsin Nawaz Ranjha, a PML-N MNA, presented the reference to the ECP.

Mohsin Ranjha has also received a separate notice for hearing on August 24 on the referral he had filed in his own capacity against Imran Khan’s disqualification as MNA under Article 63 (2) of the Constitution.

Search

Banks Will Be Closed On August 8 and 9 For Muharram In 2022

August 6, 2022 / By Zunair Tahir / Pakistan News

A two-day bank holiday in honour of Ashura was announced by the State Bank of Pakistan (SBP) on Thursday (Muharram 9-10).

The State Bank of Pakistan announced that it will be closed on August 8 and 9, which were the 9th and 10th Muharram-ul-Haram, 1444 AH, in observance of Ashura.

On Ashura, the State Bank of Pakistan will be closed.
The dates August 8 and 9 will be Ashura.
Also declared by the government is a two-day holiday.

The announcement states that Shehbaz Sharif, the prime minister, has authorized the two-day public holiday honoring Ashura on August 8 and 9. (Monday and Tuesday).

For informational purposes only, the Prime Minister therefore proclaims the 8th and 9th of August, 2022 (Monday and Tuesday), as public holidays in honor of Ashura (9th & 10th Muharram 1444 AH).

All private and public agencies, educational institutions, enterprises, and other activities will be closed over those two days, according to the announcement.

In a notification sent by the Cabinet Division the day before, the federal government granted two vacations in honor of Ashura as Pakistanis and Muslims throughout the world get ready to observe the sacred event with grief, sorrow, and prayers.

Search

Pakistan News

Rupee Strengthens More Against The Dollar Following Ishaq Dar’s Warning

ALSO READ: Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

Provincial Government To Prevent Unjustified Profiteering: Ahsan Iqbal

ALSO READ: Inauguration Of Ishaq Dar As New Finance Minister

READ MORE: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

Inauguration Of Ishaq Dar As New Finance Minister

ALSO READ: In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

READ MORE NEWS…

In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

ALSO READ: Current Fuel Prices In Pakistan

ALSO READ: Pakistan Suzuki Unveils the Alto VXR AGS With ABS

Shahbaz Gill Released After Being Detained For Many Weeks In A Sedition Case

READ MORE: Pakistan’s Prime Minister Pledges To Compensate Flood Victims

READ MORE: MG3 Arriving Soon – Says Javed Afridi, But Kab Tak???

Pakistan’s Prime Minister Pledges To Compensate Flood Victims

Pakistan: Former Prime Minister Khan’s Party Battles Government Repression

Thousands gather in front of Khan’s villa

Shahbaz Gill Is Given Two-Day Physical Remand By The Magistrate

READ MORE: In Three References, ECP Summons Imran Khan

READ MORE: From Friendly Nations, Pakistan Receives The “Green Light” For A $8 Billion Package

In Three References, ECP Summons Imran Khan

Imran Khan is being asked to appear on August 23 at 10am by the electoral authority.

Banks Will Be Closed On August 8 and 9 For Muharram In 2022

READ MORE NEWS…

You Want To Have Your Favorite Car?