ISLAMABAD: Pakistan Bureau of Statistics data from Thursday showed that exports of clothing and textiles increased by nearly 9.51% in the first quarter of FY25, raising concerns that the sector was experiencing a slump. The sector’s exports fell by 3.09 percent in July, but they rose by 13 percent in August and 17.92 percent in September. Due to the implementation of stringent taxation measures during the current fiscal year, many experts believe that the textile industry may have difficulty competing with rivals in the region. However, there has also been an increase in demand for Pakistani clothing as a result…
Author: Raja Zahid Khanzada
KARACHI: Mega Motor Company, a subsidiary of Hub Power Company Ltd. (Hubco), has formed a partnership with BYD Auto Industry Company Ltd., the leading global manufacturer of new energy vehicles (NEVs). Thursday, Hubco made the news that its subsidiary had signed technical license agreements for the licensed products and a master supply and manufacture agreement with BYD to manufacture, market, distribute, and sell its brand of passenger vehicles in Pakistan. According to Hubco, BYD, the world’s leading automotive technology company, will launch Pakistan’s automotive industry into the future by providing customers with a variety of vehicles.
KARACHI: The Pakistan Stock Exchange (PSX) fell below 86,000 on aggressive foreign selling on Thursday after reaching an all-time high supported by a successful SCO summit. The drop in the KSE 100 index was caused by rising political tensions surrounding the 26th constitutional amendment. According to Ahsan Mehanti of Arif Habib Corporation, stocks closed under pressure from political noise, judicial reform uncertainty, and foreign outflows. Investor sentiment was hurt by government actions on IPP payment and tariff issues, low crude oil prices worldwide, and delays in privatizing state-owned businesses, he said. According to Topline Securities Ltd., the banking and E&P…
LAHORE: Three senior journalists, lawyers, and TikTokers were detained on Thursday by the Cyber Crime Wing of the Federal Investigation Agency (FIA) for spreading an “alleged” rape story about a private girls college student, which sparked violent protests by students and the general public across Punjab since Monday. According to a senior FIA official, teams have detained Raja Ahsan Naveed, a National Assembly employee, Faisal Jutt, a TikToker, and Umar Daraz Gondal, who is accused of encouraging students to start an armed and violent movement. He stated that raids were carried out in order to capture 38 senior journalists and…
WASHINGTON: The arms race for artificial intelligence has gone nuclear. With announcements regarding atomic energy, which they hope will power a technology that is consuming electricity at an alarming rate, Google, Microsoft, and Amazon are now attempting to outgun each other. Conscious that AI is the next big thing in technology, the tech giants in the United States are spending billions to expand data centers around the world. Goldman Sachs research indicates that data centers will consume 8% of US power by 2030, up from 3% in 2022. By 2030, their power requirements in Europe will be comparable to Portugal,…
ISLAMABAD: The Senate on Thursday consistently passed a bill for foundation of exceptional courts to choose property-related instances of abroad Pakistanis. Chaudhry Salik Hussain, Minister for Overseas Pakistanis and Human Resource Development, proposed the Establishment of Special Courts Bill. He stated that the cases would be decided by special courts within 90 days, and foreign Pakistanis will be able to submit complaints online. The bill was praised by a number of House members, who noted that overseas Pakistanis had long demanded it. The bill was praised by Senator Irfan Siddiqui, who referred to overseas Pakistanis as a valuable asset. He…
ISLAMABAD: The Election Commission of Pakistan (ECP) is probably going to choose today (Friday) the decision about whether to give PTI held seats in parliament in accordance with the High Court’s July 12 request, a source told Sunrise. On Thursday, the matter was brought up at a meeting led by Chief Election Commissioner Sikandar Sultan Raja, and the two letters that National Assembly Speaker Ayaz Sadiq wrote to stop PTI from getting the reserved seats were discussed. The law wing of the commission gave a briefing to the meeting. A second meeting will take place today (Friday), according to sources,…
PESHAWAR: The health department has expressed concern over the employees’ failure to comply with its instructions regarding the submission of details regarding the use of official vehicles and has reminded them to do so by the end of the month, failing which, such vehicles will be considered illegal. The department has informed all relevant officials in a letter that they will not receive reimbursement from the government for the costs of gasoline, oil lubricant (POL), and maintenance and repair, and that the excise and taxation department will be asked to retrieve any such vehicles that are not listed in the…
KARACHI: The Sindh government has assigned 37 MPAs from both the ruling and opposition parties to oversee 94 public schools in their constituencies in Karachi, Hyderabad, Thatta, and Sujawal. This is a first for Sindh. The 94 state funded schools — 74 in Karachi, 11 in Hyderabad and nine in Thatta and Sujawal – have been given over to the more than three dozen legislators, a staggering greater part of them have a place with the resistance Muttahida Qaumi Development Pakistan, under a school reception program started by Training Clergyman Syed Sardar Ali Shah. The initiative, according to a spokesperson…
• Officials link the move to the PTI, and today’s student protests are planned. • WhatsApp disruptions were reported, and Section 144 was in effect for two days. • About 380 people were held after the agitation in Rawalpindi. LAHORE/RAWALPINDI: The Punjab government has closed all educational institutions and banned all public gatherings throughout the province in response to the double challenge of a possible agitation by the PTI and the students’ protest today. While the protest against the alleged rape of a female college student in Lahore by students continued for the fourth day on Thursday, the PTI has…
