KARACHI: The national strike organized by the business community against soaring power bills and rising tax burdens led to significant trade losses on Wednesday, overshadowing claims of a major victory. Industrial activities showed varied results due to several factors. Support for the strike was evident from industrialists’ bodies, who also called for revisions in contracts with independent power producers (IPPs) but did not commit to keeping their operations closed. The ongoing rains and disrupted transportation in Karachi also contributed to the halt in activities, with many workers unable to report for duty. Kashif Chaudhry, President of Markazi Tanzeem-i-Tajiraan, estimated a…
Author: Hasnain Abid Khanzada
Shares at the Pakistan Stock Exchange (PSX) surged by over 400 points in intraday trading on Thursday, driven by a positive shift in investor sentiment following Moody’s recent rating upgrade. The KSE-100 index gained 421.02 points, or 0.54%, reaching 78,413.80 points from the previous close of 77,992.78 points by 10:41am. Awais Ashraf, Director of Research at AKD Securities, attributed the market upturn to Moody’s rating upgrade, which improved external liquidity conditions and alleviated concerns about the delayed approval from the IMF board. On Wednesday, Moody’s upgraded Pakistan’s local and foreign currency issuer ratings to Caa2 from Caa3, citing improvements in…
SUKKUR: Ghotki police have apprehended the primary suspect in the murder of journalist Muhammad Bachal Ghuniyo and recovered the weapon used in the crime. The arrests were made during a series of raids and search operations conducted on Wednesday. Ghotki SSP Dr. Sumair Noor Channa assembled a team led by Ubauro DSP Hafiz Abdul Qadir Chachar to expedite the investigation and apprehend the perpetrators. The team conducted multiple raids and successfully arrested Shokat, son of Qadir Bakhsh Ghuniyo, the main suspect, and seized the weapon from his possession. Muhammad Bachal Ghuniyo was reportedly shot dead by relatives on August 27.…
ISLAMABAD: The Food and Agriculture Organisation (FAO) of the United Nations has launched a cash assistance program to support vulnerable households in Tharparkar, Umerkot, and Dadu districts. This initiative, designed to help families cope with adverse climatic conditions and safeguard their livestock, comes in response to prolonged drought, rising temperatures, and the impact of El Niño on agriculture in these Sindh districts. Under the program, the FAO has distributed cash in two instalments to 2,836 beneficiaries across the three districts. Specifically, 1,836 households received Rs40,000 each, while 1,000 subsistence herder households received Rs50,000 each, which included an additional Rs10,000 subsidy…
ISLAMABAD: Pakistan announced on Wednesday that no individual without legal documentation would be allowed to stay in the country, as preparations begin for the second phase of repatriating Afghan refugees. Interior Minister Mohsin Naqvi made this announcement during a meeting with a UN delegation led by Special Representative for Afghanistan, Indrika Ratwatte. Pakistan initiated the deportation drive last year in response to a surge in suicide attacks, which the government attributed to Afghan nationals. Islamabad has also accused them of involvement in smuggling, militant violence, and other crimes. Welcoming the UN delegation at the Ministry of Interior, Mr. Naqvi emphasized…
ISLAMABAD: As the National Assembly prepares to consider five private bills on Tuesday, including one aimed at increasing the number of judges in the Supreme Court, Chief Justice of Pakistan (CJP) Qazi Faez Isa has scheduled a Judicial Commission of Pakistan (JCP) meeting on September 13. The meeting will focus on discussing the proposed JCP Rules 2024. The JCP meeting will also address the elevation of judges within the superior judiciary, with discussions possibly extending into the following day if the agenda is not completed on September 13. Attendees will include senior Supreme Court judges such as Justice Syed Mansoor…
A potential cyclone forming over the Rann of Kutch in India is expected to reach the Sindh coast by late tonight or early tomorrow, according to the Pakistan Meteorological Department (PMD). In a statement issued at 10 am on Thursday, the PMD reported that a deep depression had slowly moved west/southwest over the last 12 hours and is currently located about 270 kilometers east/southeast of Karachi. The PMD alert indicated that the weather system is likely to move west/southwest and emerge into the northeast Arabian Sea near the Sindh coast by late tonight or tomorrow morning. Due to favorable environmental…
KARACHI: A sessions court on Wednesday sentenced Javed Jokhio, a street criminal, to a total of 23 years in prison for multiple offenses, including robbery, illegal arms possession, and engaging in a shootout with police. Additional District and Sessions Judge (East) Shahid Ali Memon convicted Jokhio on four counts, sentencing him to seven years each for robbery under Section 397 and attempted murder under Section 324, and two years for assaulting a public servant under Section 353 of the Pakistan Penal Code (PPC). An additional seven-year sentence was imposed for illegal arms possession under the Sindh Arms Act 2013, along…
ISLAMABAD: Politicians from both the ruling coalition and opposition reaffirmed their unwavering support for the China-Pakistan Economic Corridor (CPEC) on Wednesday, describing it as a “lifeline” for Pakistan’s economy. The remarks were made during a multiparty conference held at the Pakistan-China Institute. Senator Mushahid Hussain Syed, chairman of the institute, emphasized that ties with China are central to Pakistan’s future, highlighting CPEC’s potential to foster progress and prosperity. The event brought together leaders from eight political parties, including the PML-N, PPP, PTI, MQM, and JUI-F. Senator Mushahid also praised the Communist Party of China (CPC) for its significant role in…
Pakistan has extended an invitation to Indian Prime Minister Narendra Modi for the upcoming Shanghai Cooperation Organisation (SCO) heads of government meeting, scheduled to be held in Islamabad on October 15-16. The event will be preceded by ministerial meetings and several rounds of senior officials’ discussions focusing on financial, economic, socio-cultural, and humanitarian cooperation among SCO member states. During a weekly press briefing, Foreign Office spokesperson Mumtaz Zahra Baloch confirmed that invitations have been sent to the leaders of all member countries, including India’s Prime Minister. She noted that some countries have already confirmed their participation, with further confirmations to…
