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August 6, 2022August 6, 2022

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.

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

August 5, 2022 / By Zunair Tahir / Pakistan News

ISLAMABAD: According to reliable sources cited by ARY News on Friday, friendly nations have given Pakistan the go-ahead to receive investment and money.

Sources in the finance ministry claim that there have been encouraging signs of a $8 billion economic package from friendly nations, with China, Saudi Arabia, the United Arab Emirates, and Qatar heading the pack.

They add that there has been tremendous progress in the talks between Pakistan and Saudi Arabia and that there is a chance that the oil facility might double with Saudi Arabia deferring payment.

The New National Anthem Will Be Released By The Government On August 14

The oil facility’s budget would rise from 1.2 billion to 2.4 billion dollars, and Saudi Arabia may provide safe deposits as well.

Ayesha Ghous Pasha, a minister of state, stated that although the friendly nation notified Pakistan in this respect, it would be making the formal statement.

She said that up to this point, China has rolled over $4.3 billion in debt, which includes $2.3 billion in commercial loans and $2 billion in deposits.

During the week that concluded on July 29, the State Bank of Pakistan’s (SBP) foreign exchange reserves fell by $190 million.

The State Bank of Pakistan now holds $8,385.4 million in foreign reserves, according to a breakdown provided by the central bank.

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Nooh Dastagir Butt Won Pakistan’s First Gold Medal At The Commonwealth Games In 2022, Breaking A Record

August 4, 2022 / By Zunair Tahir / Pakistan News

Nooh Dastagir Butt lifted overall 405kg to set a new record in Commonwealth Games

BIRMINGHAM: Nooh Dastagir Butt brought honour to Pakistan by helping them win its first gold medal at the Commonwealth Games (CWG) in 2022.

Hussain Shah’s bronze medal was Pakistan’s first at the CWG 2022, but just hours later, Butt demonstrated his superiority by winning the gold and breaking several CWG records.

Nooh Dastagir Butt Won Gold Medal Common Wealth Games 2022

Butt set a new CWG record for the 109+ kg division by snatching 173 kg. Butt lifted 232 kg in the clean and jerk to break yet another record. Butt lifted 405 kg in total, a CWG record.

Weightlifter Nooh Dastagir Butt winning his first gold medal at the Commonwealth Games (CWG) in 2022 is a memorable occasion for Pakistan.

The New National Anthem Will Be Released By The Government On August 14

Nooh Butt broke two records in the 109+kg division by snatching 173 kg and clean and jerking 232 kg. Butt lifted 405 kg in total, which is a record for CWG 2022.

David Andrew of New Zealand lifted 394 kg to win silver, while Singh Gurdeep of India lifted 390 kg to win bronze.

Butt won a bronze medal in the 105+ kg division at the 2018 CWG. Talha Talib, who competed in the 62kg division and also took home bronze, was with him.

In the history of the CWG, Pakistan has only ever won a gold medal in weightlifting. Shujauddin Malik won gold in the 85 kg division in 2006.

He believes that the year he took off taught him a lot, most notably that winning is important to him and that getting back on one’s feet is important even when the Pakistan Sports Board (PSB), the Pakistan Olympic Association (POA), and the government did not support him despite the fact that he was one of the best athletes to emerge from Pakistan.

He recounted how his family had struggled with his thigh muscle rupture and rehabilitation because there were no sports medicine specialists in Pakistan and neither the PSB nor the POA offered any assistance.

It was difficult for me to not be able to compete, therefore it was a gloomy moment for me.

He acquired Covid-19 during the pandemic and was unable to compete in the Tokyo Olympics qualifying stages. However, he made the decision that he wanted to heal quickly in order to compete more effectively.

“I can say that my stakes in the Commonwealth Games are really high because I want to at least be able to demonstrate here all of the hard work that I have put in over the past 12 to 14 years of my life. I also want to win an Olympic medal. I would have if I were physically capable, but the goal is to triumph and honour my nation in order to finally have better outcomes, said Nooh.

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Islamic New Year – July 29, 2022

July 29, 2022 / By Zunair Tahir / Pakistan News

The first day of Muharram, the first month in the Islamic calendar, is the Islamic New Year, often referred to as the Arabic New Year or the Hijri New Year. The first year of this calendar started in the year 622 of the Gregorian calendar, when the Prophet Muhammad and his followers moved from Mecca to Medina.

Days in the Islamic calendar start at dusk. Because the Islamic year is 11 to 12 days shorter than the calendar year, the event always happens on a different day. Muharram, also known as the month of memory, is revered by Muslims all around the world and is marked with rituals and prayers.

The name “Hijri” comes from the word “Hijra,” which means migration. The journey of the Prophet Muhammad from Mecca to Medina in 622 AD marks the beginning of the Islamic calendar.

WHEN IS ISLAMIC NEW YEAR 2022?

The first day of Muharram, the first month in the Islamic calendar, marks the start of the Islamic New Year, also known as the Arabic New Year or the Hijri New Year. The lunar-based, 354-day Islamic calendar is short. This year, the Gregorian calendar’s July 29 falls on the Islamic New Year.

HISTORY OF ISLAMIC NEW YEAR

Muslims in the seventh century CE experienced religious discrimination due to their beliefs at Mecca and other places. In order to establish a Constitution that outlined Muslims’ rights and obligations, Muhammad and his companions fled to the city that would eventually be known as Medina. This movement is known as the Hijra. Islamic New Year remembers this historic occasion since it is a significant event in the Muslim religion.

For Muslims worldwide, it’s vital to mark more than simply the first day of Muharram, the first month of the Islamic lunar year. The whole month has a sacred meaning. For instance, the 10th day, Ashura, which commemorates Noah leaving the Ark and Moses crossing the Red Sea, occurs in Muharram, the second most solemn occasion after Ramadan.

It is also the anniversary of the passing of Hussein, the grandson of Muhammad, among Shia Muslims. They observe memorial services to remember the event. Shias participate in memorial parades known as “matam,” when males congregate in the street to do traditional chest-beating. This is especially true for people in Afghanistan, Bahrain, India, Lebanon, and Pakistan. Muharram is a time of serious prayer and introspection for Sunnis as they bring in the new year.

Islamic New Year slips back year after year, creating a type of “cycle,” because the lunar calendar is 11 or 12 days shorter than the Western solar calendar. This is done so that followers of the faith might encounter the same variety of climatic conditions and weather occurrences as all the historical characters in their sacred texts.

Asking Muslim acquaintances about Muharram might be an intriguing way to learn more about this significant religious and cultural occasion. To celebrate the Islamic New Year, Muslims individuals might also share their experiences, thoughts, and emotions with others.

ISLAMIC NEW YEAR BY THE NUMBERS

4 – the number of days Eid al-Adha is celebrated by Muslims.

3 million – the estimated number of Muslims who travel to Saudi Arabia for the annual pilgrimage of Hajj.

2– the number of Eid festivities in a year observed by Muslims.

6- the number of denominations of Islam most Muslims fall under.

5- the number of fundamental ‘Pillars of Islam’ that secure a Muslim believer’s faith.

1.8 billion – the estimated number of Muslims in the world, as of 2015.

2nd –the ranking of Islam as the fastest-growing religion in the world

3.45 million –the estimated number of Muslims of all ages living in the U.S

114 – the number of chapters in the Holy Quran.

570 A.D. –the year of birth of the Prophet Muhammad.

Pakistan News

July 27, 2022July 27, 2022

Jazz Urges Workers To Prepare For Consequences

July 27, 2022 / By Zunair Tahir / Pakistan News

In an internal message distributed earlier this week to the staff of the firm, Jazz CEO Aamir Ibrahim expressed his concern on the economic future of the nation and its negative impact on Jazz’s operations on Tuesday.

As we begin to make certain difficult but essential decisions, I am raising the degree of this problem to critical, according to the official message from the Telco Chief that Profit was able to receive.

CEO Warns Of Tough Times Ahead

This report continues the series of incidents that highlight the dire state of telecom firms in recent years. Rising operational expenses as a result of high inflation and rising energy prices are an issue for the business. (Read Profit’s article, Telcos Energy Concerns: Needless Whining or a Genuine Problem, for more information.)

Additionally, due to the high cost of capital and a declining rupee, the international players in the industry have reduced their expectations of profits from Pakistani operations. The benchmark rate used to determine how much value the cash flows generated in the future would have in comparison to the current day is the cost of capital. (E.g. A 250ml juice box was Rs15 a few years ago; today, the identical item costs Rs25. As a result, the Rs 15 is now worth less than it was a few years ago.)

High interest rates, risk premium—a presumed return for making investments in high-risk jurisdictions—and securities are the main causes of the cost of capital. Reputable economist Professor Aswath Damodaran has assessed Pakistan’s equity risk premium to be above 15%, greater than nations like India, Bangladesh, Egypt, and other African nations.

These changes have reduced the value of Telenor ASA’s local businesses, which are owned by Telenor Pakistan. The recoverable amount of its assets in Pakistan is now projected to be about $600 million, down from $850 million due to this impairment. (Read more about it in Profit’s piece Telenor Impairment: Has the group given up?)

Furthermore, PTCL reported a net loss of Rs 3 billion in its financial statements for the six months ended June 30, 2022, as a result of high operational costs brought on by the rise in energy prices and skyrocketing interest rates, which increased its finance costs.

In the corporate message, Jazz’s CEO also acknowledged the aforementioned difficulties, saying, “We have all individually been touched by the growing cost of products and services. Even jazz is not immune to the current economic downturn. In actuality, the interest rate increase and the dramatic increase in gasoline and energy prices have a significant impact on us.

In Pakistan, cellular mobile operators (CMO) are in constant need of a business strategy that would enable them to escape the vicious cycle of low average revenues, growing operational expenses, and consequently slim profit margins.

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Great News For Inflation-Stricken People Of Pakistan

July 7, 2022 / By Zunair Tahir / Pakistan News

Distributors have announced a drastic reduction in LPG prices following a reduction in prices by manufacturing companies.

According to Chairman LPG Distributors Association Irfan Khokhar, the price of domestic cylinder has been reduced by Rs 120 and the price of commercial cylinder by Rs 450.

It will be great relief for the people of Pakistan through the tough times going on and people also needed less price because Eid-Ul-Adha is round the corner and people of Pakistan are very found of eating and cooking.

Load Shedding Is A Top Trend, Memes Are Starting To Appear

June 30, 2022 / By Zunair Tahir / Pakistan News

After a long load shedding across the country, the micro-blogging website Twitter ‘load shedding’ has become a top trend, humorous memes from users began to go viral.

Almost 18 thousand tweets has been done on the twitter by the hashtag #loadshedding and it has been trending so far people have been very creative with the hashtag and tried different memes and many types of advices has been posted on the twitter so far.

The city of lights has turned into city of darkness these days! #Loadshedding #Karachi pic.twitter.com/sZuukb0Ruv
— Meer Hamza Baloch (@imeerhamza) June 28, 2022

A user named Mir Hamza shared a picture of Karachi on Twitter and wrote that the city of lights has become a city of darkness nowadays. The City Karachi is very famous for been what it has been called the city of lights and hours and hours of load shedding has been going on may in Karachi due the weather it is almost damn hot out their and the government has been failed to provide any type of relief to the people of Karachi.

And in other cities of Pakistan especially i belong to Lahore and in Lahore 10 to 12 hours of load shedding has been going on And the Prime Minister Shahbaz Sharif also stated that in the up coming month of July load shedding will be increased and their is a lot of humidity in the city and the government is testing the patience level of the people through out the country.

It has become the norm to spend the night without electricity#Loadshedding @KElectricPk 🤦🤷🏼‍♂️ pic.twitter.com/nF0N70N2mg
— Aurang Zeb (@AurangZzzeb) June 28, 2022

Another user wrote that spending the night without electricity has now become a norm while a user named Shiraz shared the benefits of load shedding. And now if the load shedding is less then people are curious about what will be going on and started different types of thoughts.

It may be recalled that according to sources in the Power Division, the power shortfall has exceeded 7,500 MW due to which the duration of load shedding has also increased. The total power generation in the country is 21,700 MW while the demand is more than 29,000. And the government just tell us the figure that this is the loss that is going on and we have to do more power cuts and doesn’t provide the solution of the problem.

"The Electricity Has Gone" #Loadshedding pic.twitter.com/Ihe4zrQdif
— Sheikh Sadi. (@Sheikhsadi143) June 28, 2022

Due to hot weather in Karachi, the power shortfall has increased from 250 to 300 megawatts to 400 to 500 megawatts. Karachi weather is hot and humidity level also increases and people in one family uses more then 1 AC in the house and the Price of electricity also increase and still people have no choice to pay heavy bills and still load shedding goes on and pay full bill.

And in many cities of the country people have found many ways of stealing the electricity and the Electricity board knows about this issue and doesn’t pay full attention on this issue people of this types should be put in jail and make heavy fines that other people should learn some lesson and doesn’t steal the electricity.

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How Long Will The Series Of Pre-Monsoon Rains Last In Pakistan?

June 22, 2022 / By Zunair Tahir / Pakistan News

More rains are forecast for today and tomorrow Wednesday in most cities of Pakistan.
Zaheer Ahmad Babar, director of the Islamabad Meteorological Department’s forecast center, told Urdu News that “there will be more or less rains in the whole country for two days.”
Asked about the danger of floods, he said that apart from floods in the rivers of Khyber Pakhtunkhwa, Galyat and Kashmir, there are also dangers of landslides in the hilly areas.

Regarding the weather conditions in major cities, he said that Islamabad, Lahore, Faisalabad, Sargodha and other major cities will also receive more rains, so there is a possibility of urban flooding.

Similarly, according to the June 20 forecast of Meteorological Center Islamabad, humid winds are entering the upper and central parts of the country, which will continue till the next day.

According to the press release, strong winds and thundershowers are expected in Khyber Pakhtunkhwa, Punjab, Islamabad, Gilgit-Baltistan, Kashmir, Sindh and North East Balochistan on June 21. Heavy rains and thundershowers are also expected in some areas.

**According to the Meteorological Department, floods could occur in some areas**

According to the weather forecast for June 22, strong winds and thundershowers are expected in Khyber Pakhtunkhwa, Gilgit-Baltistan, Kashmir, Upper Punjab and Islamabad.

Rain with gusts of wind and thunderstorms is expected while the weather will remain humid in other parts of the country.
Similarly, on June 23, it has been reported that the weather will be hot and humid in most parts of the country on this day.

**Keep in mind that pre-monsoon rains are continuing across the country and it is raining in almost all parts of the country.**

Heavy rains on Monday caused roof collapses and flooding in various parts of the country, killing eight people. Was
On the same day, several low lying areas in Punjab like Dera Ghazi Khan, Rahim Yar Khan, Mandi Bahauddin, Rawalpindi, Jhelum, Chakwal, Murree, Multan, Bahawalpur and Layyah were flooded.
Similarly, three people were killed in two separate roof collapse incidents in Layyah while about 20 km from Sibi.

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Negotiations Between IMF and Pakistan, On What Terms Agreed?

June 22, 2022 / By Zunair Tahir / Pakistan News

Ongoing talks between Pakistan and the IMF to revive the loan program have come close to success. According to Finance Ministry officials, the government has promised to impose 2.5 per cent income tax on those earning Rs 6 to 12 lakh per annum and gradually levy Rs 50 per liter on petroleum products.

According to Finance Ministry officials, the public has been assured of a gradual levy of Rs 50 per liter on petroleum products from July 1. In the first phase Rs 10 per liter and after that Rs 5 per liter will be charged. A total of Rs 750 billion has been targeted to be collected in levies next year.

Apart from this, Pakistan will also collect 1 to 4% income support levy from individuals and companies earning Rs. 150 million to 300 million per annum, while those earning Rs. Has been warned.

The US Dollar Set A New Record

Under the agreement, Pakistan was to increase the tax collection from the salaried class by Rs 125 billion but in the budget the government gave relief of Rs 47 billion instead of increasing the tax which was objected to by the IMF. The government’s move has resulted in a loss of Rs 47 billion in revenue, which has stalled talks with the IMF.

Now the government has once again come out in support of changing the tax slab and those earning Rs 6 lakh to 12 lakh per annum will be taxed at 2.5 per cent instead of Rs 100 which will be approved by the National Assembly through the Finance Bill.

The IMF demanded that the subsidies on oil and electricity be abolished, which was gradually abolished by the current coalition government, after which the IMF’s demand for petroleum levy was accepted and the levy was gradually implemented. Will As a result, prices of petroleum products are likely to rise further from July 1.

According to officials, the total volume of the budget is being increased from Rs 9,500 billion to Rs 9,900 billion at the request of the IMF. The FBR’s annual tax target has been increased by Rs. 436 billion. The FBR will now collect Rs 7440 billion instead of Rs 7004 billion.

Esther Perez Ruiz, the IMF’s representative in Pakistan, said that significant progress had been made in negotiations with Pakistani officials regarding the 2022-23 budget. Talks are underway between IMF staff and Pakistani officials aimed at strengthening macroeconomic stability in the new fiscal year.

According to Finance Ministry officials, an agreement at the staff level will be reached in the next few days as soon as the draft Memorandum of Economic and Financial Policy is received from the IMF. After which the IMF executive board will approve the next tranche of one billion dollars.

Pakistan has already received 3 3 billion out of the 6 6 billion loan program. The loan program has been stalled since March this year.

In this regard, Minister of State for Finance Dr. Ayesha Ghous Pasha said that the previous government had reached an agreement with the IMF on all the demands including personal income tax reforms and we have tried to complete the same incomplete work. We tried to give relief but we are bound by the agreement so we have to accept the condition of IMF.

According to him, the previous government was also in favor of raising petroleum levy and electricity prices. We are not doing anything that is not included in the agreement of the previous government with the IMF, because without it the fire.

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The US Dollar Set A New Record

June 20, 2022 / By Zunair Tahir / Pakistan News

Delays in the agreement with the International Monetary Fund (IMF) and the depreciation of the exchange rate have continued to increase the pressure on the rupee and the value of the dollar in the interbank market has exceeded Rs 210 while the dollar is trading between Rs 215 and 220 in the open market.

2022 CARS PRICE LIST IN PAKISTAN

The rupee continues to depreciate in the country and even today the value of the dollar has been recorded in the interbank market.

Market sources attribute the rising value of the dollar to the fact that Pakistan and the International Monetary Fund (IMF) have not yet restored the Extended Fund Facility (EFF). There are reservations that the authorities have allocated for the next financial year.

According to IMF estimates, even revenue measures in the budget are insufficient to meet the target of just over Rs. 7 trillion. The first draft of the Monetary Policy Memorandum was not received as some issues remained unresolved.

“We are working very closely with the IMF and will come to a conclusion soon,” he said. Is the target.

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

READ MORE NEWS…

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

ISLAMABAD: According to reliable sources cited by ARY News on Friday, friendly nations have given Pakistan the go-ahead to receive investment and money.

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Nooh Dastagir Butt Won Pakistan’s First Gold Medal At The Commonwealth Games In 2022, Breaking A Record

Nooh Dastagir Butt lifted overall 405kg to set a new record in Commonwealth Games

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Islamic New Year – July 29, 2022

WHEN IS ISLAMIC NEW YEAR 2022?

HISTORY OF ISLAMIC NEW YEAR

ISLAMIC NEW YEAR BY THE NUMBERS

Jazz Urges Workers To Prepare For Consequences

CEO Warns Of Tough Times Ahead

Great News For Inflation-Stricken People Of Pakistan

Distributors have announced a drastic reduction in LPG prices following a reduction in prices by manufacturing companies.

READ MORE: Pakistan Cut The Army’s Budget By RS72 Billion In Order To Finalize IMF Agreement

READ MORE: Is Johnny Depp Returning To ‘Pirates Of The Caribbean’

Load Shedding Is A Top Trend, Memes Are Starting To Appear

How Long Will The Series Of Pre-Monsoon Rains Last In Pakistan?

READ MORE NEWS…

Negotiations Between IMF and Pakistan, On What Terms Agreed?

READ MORE

The US Dollar Set A New Record

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