IMF sees large financing needs
photo: fileThe International Monetary Fund (IMF) said on Thursday that Pakistan’s external financing needs remain large but its foreign exchange reserves coverage is precarious at only 70% of the country’s short-term foreign debt. The report warned about the growing risk to Pakistani banks from a substantially large exposure to the government debt. “External financing needs will remain large, and reserve coverage is forecast to remain precarious in several countries, averaging about 70% of short-term external debt in Egypt, Pakistan, and Tunisia,” stated the report released on Thursday. Commenting on the government’s high gross financing needs, the IMF said that elevated public sector gross financing needs are still a significant challenge, which will reach “21% of GDP by 2024 for Pakistan” (or over Rs22 trillion). High rate impactThe IMF said that a prolonged period of higher interest rates could trigger adverse feedback loops between the sovereign and the banking sector.
Source:The Express Tribune
October 13, 2023 14:01 UTC
PUC observes ‘Palestine Solidarity Day’ across nation
ISLAMABAD, Oct 13 (APP): Pakistan Ulema Council (PUC) on Friday observed ‘Palestine Solidarity Day’ across the nation expressing unity with the oppressed Palestinians and offering special prayers in Friday sermons. The PUC Chairman Hafiz Muhammad Tahir Mahmood Ashrafi, along with other prominent religious leaders, spoke out in support of Palestine. They highlighted the critical juncture in the Palestinian issue and called on Muslim leaders to play their role immediately. Addressing the issue of human rights, PUC Chairman Ashrafi deplored the silence on the mass killings of the oppressed Palestinians. He emphasized that for decades, Israel had been subjecting innocent civilians, hospitals, schools, and ambulances to its ruthless aggression.
Source:The Nation
October 13, 2023 13:46 UTC
FO condemns unwarranted case against Zainab Abbas in India
With regards to the Zainab Abbas situation, a well-known Pakistani cricket presenter with international recognition, who had to curtail her stay in India, the Foreign Office (FO) has expressed its concern over the case filed against her in India, calling it “not an appreciable step”. 🔴LIVE: Spokesperson's Weekly Press Briefing 12-10-23 at Ministry of Foreign Affairs, Islamabad https://t.co/WVBnyczanR — Spokesperson 🇵🇰 MoFA (@ForeignOfficePk) October 12, 2023Zainab Abbas had attributed her early departure from India to "personal reasons". The complaint was based on screenshots of tweets allegedly made by an account associated with Abbas back in 2014. Also read: Cricket presenter Zainab Abbas ‘leaves’ IndiaThe FO spokesperson reiterated that the case filed against Zainab Abbas in India is an unwarranted development, as she has been unfairly implicated in the matter. Also read: To be sorry or not to be sorry: Zainab Abbas' old anti-India tweets divide the internetA Pakistani news channel, citing anonymous sources, reported that Zainab Abbas vehemently denied the allegations and asserted that she had been unjustly singled out.
Source:The Express Tribune
October 12, 2023 20:26 UTC
Imminent Threat
Global temperatures increasing by 2 degrees Celsius above pre-industrial levels will result in many regions experiencing prolonged periods of extreme heat, surpassing human tolerance. According to a recent World Bank study, Pakistan faces not only unbearable heat but also one of the highest disaster risk levels globally. This extreme heat would also affect South America and Australia. Preliminary research indicates that older adults may experience heat stress and related health consequences at lower heat and humidity levels compared to younger individuals. It’s important to note that humid heat poses a greater threat than dry heat, and governments and policymakers need to reevaluate their heat-mitigation strategies to prioritise addressing these significant dangers that people will face.
Source:The Nation
October 12, 2023 20:11 UTC
No talks with IMF, World Bank heads
Pakistani authorities requested a meeting with IMF Managing Director Kristalina Georgieva and with World Bank President Ajay Banga. However, they said that efforts were still being made to get an audience with the top leadership of the IMF and World Bank. The six-day long annual meetings of the IMF and World Bank began on Tuesday in Morocco. Pakistan’s new executive director in the World Bank, Tauqir Shah, was also expected to join the delegation on Wednesday. Ministry of Finance spokesman Qamar Abbasi did not respond to questions about the reasons for refusal by the IMF and the World Bank.
Source:The Express Tribune
October 12, 2023 15:03 UTC
AJK PM calls for teachers’ fair, healthy role to produce quality future architects of the nation
MIRPUR ( AJK): , Oct 12 (APP):: Azad Jammu and Kashmir Prime Minister Chaudhry Anwar ul Haq, while acknowledging the overall healthy role of teachers in nation building, has said that teachers were the real heroes and true architects of a healthy society. Describing teaching as a prophetic profession, he said that teachers must play their proactive role to improve the standard and quality of education in the region. “Teachers must perform their duties honestly, give hundred percent results, and make sure that the future of children is bright”, he said. He assured the delegation that in addition to teachers’ promotions, all their problems would be solved on a priority basis. The Prime Minister said that he would ensure a hundred percent implementation of the quota system in the education department.
Source:The Nation
October 12, 2023 14:25 UTC
Services Against Threats
In the contemporary global landscape, the roles of military intelligence and public relations have evolved significantly. These functions are critical for a nation’s national security and international reputation. On the other hand, military intelligence focuses on gathering, analyzing, and disseminating information related to potential threats, both internal and external. In Pakistan, agencies like the Directorate-General for Military Intelligence (MI) and Inter-Services Public Relations (ISPR) collaborate with other intelligence branches to address internal and external threats and safeguard the nation’s well-being. The combined efforts of ISI, MI, and ISPR are crucial for safeguarding Pakistan’s national interests, countering threats, and shaping the nation’s international image.
Source:The Nation
October 12, 2023 07:10 UTC
Pakistan team reaches Ahmadabad ahead of India clash
HYDERABAD - The Pakistan cricket team reached Ahmadabad on Wednesday ahead of their clash with India at the Narendra Modi Stadium on Saturday. The Green Shirts reached Ahmadabad from Hyderabad via a chartered flight. After playing a nail-biter against Sri Lanka at the Rajiv Gandhi International Stadium on Tuesday, the Men in Green will rest for the entire day today and will train on Thursday and Friday. Pakistan will face India at the biggest stadium in the world that can gather as many as 132,000 spectators and since the Pakistani journalists and fans have not been granted Indian visas yet, the Men in Green may be facing the home side with little to no support.
Source:The Nation
October 11, 2023 21:02 UTC
Malala's 'immediate ceasefire' call leaves many livid
"I join the call for an immediate ceasefire," began Malala in her statement on X. Today, I am grieving for all the children and people longing for peace and justice in the Holy Land." Some were glad that the peace-loving activist chose the path of least resistance and called for an "immediate ceasefire." What a fall from grace," said one X user. One can like or dislike her tweet but to label her a 'Western agent' or 'foreign stooge' only shows jealousy and hatred of petty irrelevant people," said one X user.
Source:The Express Tribune
October 11, 2023 20:53 UTC
Afghan Refugees face mass exodus in Pakistan
Around 1.7 million Afghan refugees in Pakistan face a mass exodus as Islamabad has given them an ultimatum to leave the country by November 1. [2] Bugti claimed that some 1.73 million Afghan nationals in the country had allegedly “no legal documents” to stay, adding a total of 4.4 million Afghan refugees lived in Pakistan. [4]However, civil society and refugee organisations say accusing Afghan refugees in Pakistan of supporting terrorism is mere propaganda. [9] In public discourse, most Afghan refugees are seen as potential terrorists, criminals who traffic drugs or steal jobs in Pakistan. Taliban officials have condemned the deportation timeline of “undocumented” Afghan refugees from Pakistan and urged the UN to stop the looming exodus.
Source:The Express Tribune
October 11, 2023 12:16 UTC
At least five dead in Karachi building collapse
At least five people were killed when an under-construction building collapsed in Karachi's Shah Faisal Colony area on Wednesday. Edhi sources said all deceased appeared to be labourers working inside the under-construction building. The ill-fated building, situated near Qadri Masjid, had construction ongoing on its third floor when it seemingly gave way and collapsed. He stated that there were a total of six labourers working in the now-collapsed building. "Four labourers have been evacuated with minor injuries while a pedestrian was killed by the collapse of a building," said the police.
Source:The Express Tribune
October 11, 2023 12:10 UTC
Anushka Sharma’s Biography | Birth | Education | Family | Marriage | Debut | Films | Upcoming Release
Anushka Sharma is a Bollywood actress. Her favourite actors are Shah Rukh Khan and Rani Mukerji. Anushka’s debutAnushka Sharma made her Bollywood debut with the 2008 film ‘Rab Ne Bana Di Jodi’ opposite the superstar, Shah Rukh Khan. Anushka’s marriageAnushka met Virat Kohli for the first time during the shooting of a shampoo commercial. On 11 December 2017, Anushka got married with Virat Kohli in Italy.
Source:The Nation
October 11, 2023 08:52 UTC
Depleting foreign reserves posing serious financial threat to Pakistan
ISLAMABAD-As the State Bank of Pakistan reported that the nation’s overall foreign reserves amounted to $13,079.1 million. Pakistan’s foreign reserve levels have experienced a downward trend in recent months due to a number of contributing factors. Several elements play a pivotal role in corroding Pakistan’s foreign reserves. To begin with, the underground black-market trading of USD has considerably drained the nation’s precious foreign exchange reserves. Additionally, while import restrictions were initially implemented to safeguard foreign exchange, they have, on occasion, inadvertently increased the growth of informal networks and illicit black-market transactions.
Source:The Nation
October 10, 2023 20:31 UTC
Boman Irani’s Biography | Birth | Education | Marriage | Debut | Films | Facts
Boman Irani is a Bollywood actor. They have two sons, Kayoze Irani and Danesh Irani. His favourite film is ‘The Sound of Music.’His favourite writer is Rudyard Kipling. Interesting facts about Boman IraniIn his younger years, Boman Irani worked as a waiter and room service staff in the famous ‘Taj Hotel’ in Mumbai for two years. Boman Irani's son Kayoze was seen in films like 'Student of the Year' (2012), 'Youngistaan' (2014), and 'The Legend of Michael Mishra'.
Source:The Nation
October 10, 2023 16:27 UTC
Resilience Day evokes nation’s firm resolve against crises, calamities: speakers
The National Disaster Management Authority (NDMA) organised one-day seminar under the title Towards Disaster Resilient Pakistan here at the National University of Sciences and Technology (NUST). Chief Guest former Air Chief Marshal Sohail Aman said during the 2005 earthquake, the armed forces did the massive heli sorties. Lieutenant General (R) Nadeem Ahmed said the 2005 earthquake incurred massive losses in terms of lives, property, infrastructure and communities. He noted that the systematic hiccups were hindering the country’s journey to achieve proactive and coherent system for disaster management. He mentioned that lack of capacity and accountability was the issue in the realm of disaster management at the grassroots level that needed to be addressed.
Source:The Nation
October 10, 2023 15:20 UTC