Islamabad, Sep 19: In August 2024, Pakistan saw a significant decline in power generation, falling by 17.4% year-over-year (YoY) to 13,179 gigawatt-hours (GWh) and 11.4% month-over-month (MoM) from 14,880 GWh in July 2024. This decline is expected to increase capacity charges for the second quarter of FY25. Despite a decrease in fuel costs by 9.3% YoY to Rs. 7.49 per unit, power generation efficiency varied across different sources. Key Points: Power Generation Decline: Power generation decreased by 17.4% YoY to 13,179 GWh in August 2024, and 11.4% MoM from 14,880 GWh in July. For the first two months of FY25,…
Author: Mawadat Fatima
Islamabad, Sep 19: Pakistan’s external account position remains vulnerable despite the latest International Monetary Fund (IMF) program, Minister of State for Finance Ali Pervaiz Malik told the National Assembly Committee on Finance on Thursday. Pakistan’s Finance Minister Muhammad Aurangzeb has highlighted the country’s pressing financial requirements, indicating that Pakistan needs an additional $12 billion by 2027 on top of the $7 billion IMF program. He stressed the importance of developing a long-term economic policy to stabilize the economy. Reducing the policy rate by 1% could decrease the loan burden by Rs. 320 billion. The country’s financial needs exceed the current…
Islamabad, Sep 19: 124 Nations Back End to Israel’s Occupation of Palestine. This resolution garnered support from 124 countries, with 43 abstentions and opposition from Israel, the United States, and 12 other countries. The resolution is set against the backdrop of ongoing conflict and is set to impact discussions at the upcoming UN gathering in New York. Key Points: Resolution Details: The resolution demands Israel’s withdrawal from Palestinian territories and acknowledges the International Court of Justice’s (ICJ) advisory opinion from July, which deemed Israel’s occupation illegal. The resolution also calls for an end to importing products from Israeli settlements and…
Islamabad, Sep 19: The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Thursday. CONVERSION RATES FOR SEPTEMBER 19, 2024, FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE SEPTEMBER 23, 2024 USD 277.9845 GBP 366.8839 EUR 309.3967 JPY 1.9587
Islamabad, Sep 19: The per tola price of 24 karat gold increased by Rs.800 and was sold at Rs.268,500 on Thursday compared to its sale at Rs.267,700 on the last trading day. The price of 10 grams of 24 karat gold also increased by Rs.685 to Rs. 230,195 from Rs. 229,510 whereas the price of 10-gram 22 karat gold went up to Rs.211,012 from Rs. 210,384, the All-Sindh Sarafa Jewellers Association reported. The price of per tola and ten-gram silver remained unchanged at Rs.2,950 and Rs.2,529.14, respectively. The price of gold in the international market increased by $8 to $2,577…
Islamabad, Sep 19: The Met Department has forecasted hot and dry weather for most parts of Pakistan over the coming days. The majority of districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa are expected to experience elevated temperatures and dry conditions. Detailed Forecast: Federal Capital and Surrounding Areas: Islamabad and its neighboring regions will see persistent hot and dry weather. Khyber Pakhtunkhwa: Plain districts are expected to be hot and dry, while upper districts may experience partly cloudy skies but remain dry. Balochistan: Similar hot and dry conditions are anticipated. Gilgit-Baltistan: Predicted to be dry with partly cloudy skies. Kashmir:…
Islamabad, Sep 19: Shahzaib Rind, a rising MMA star from Balochistan, has clinched the Karate Combat KC-49 Championship in Singapore, defeating Brazilian fighter Luiz Victor Rocha to secure the World Karate Combat Light Heavyweight Championship title. This victory is celebrated as a significant achievement for Pakistan in the international martial arts arena. Key Highlights: Victory: Rind’s win against Rocha has brought pride to Pakistan, marking a notable milestone in the martial arts world. National Recognition: Pakistan’s High Commissioner to Singapore, Ms. Rabia Shafiq, congratulated Rind and praised his accomplishment as a source of national pride. She expressed hopes for his…
Islamabad, Sep 19: Pakistan’s white-ball head coach, Gary Kirsten, recently held a pivotal meeting with mentors and head coaches of the Champions One-Day Cup teams in Faisalabad. The primary focus of this gathering was to align the playing style across all levels of Pakistan cricket with international standards. Key Points Discussed: Consistency in Playing Style: Kirsten stressed the need for a unified cricketing approach in domestic competitions to better prepare players for international play. This consistency is seen as crucial for the smooth transition of players to the national team. Collaboration and Sharing: The importance of collaboration among coaches was…
Islamabad, Sep 19: The Pakistan Sports Board (PSB) has provided Rs23 million to the Pakistan Hockey Federation (PHF) to support the national team’s expenses for the recently concluded **Asian Champions Trophy** in China. This aid is crucial for covering the federation’s financial obligations and ensuring the team’s competitiveness. Prior to their departure, the PHF struggled with a severe funding shortage, leading them to secure loans to cover participation costs. The PSB’s recent disbursement fulfills a prior commitment to reimburse these expenses. Over the past six months, the Ministry of Inter-Provincial Coordination (IPC) and the PSB have allocated a total of…
Islamabad, Sep 19: Redmi, Xiaomi’s sub-brand, has officially teased the launch of its upcoming Redmi Note 14 series with a cryptic message, “See you next week,” on its Weibo page. While the exact release date is yet to be confirmed, the announcement hints at two new smartphone models with enhanced features like improved shock resistance, waterproofing, and extended software support, reflecting a growing industry focus on long-term update commitments. Leaked images showcase devices with a unique squircle camera island containing three lenses and an LED flash. These visuals suggest the introduction of a Redmi Note 14 and a Redmi Note…
