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Muhammad Sohaib Firdous

Euro 2022: Germany beats Austria; moves to semi-final

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Germany beats Austria
  • Germany beat Austria 1-0 to advance to the European Women’s Championship semi-finals.
  • Germany faces France or Netherlands in Milton Keynes on Wednesday for a place in the final.
  • It was Germany’s second appearance at the Euros.

Germany defeated Austria at Brentford’s Community Stadium to advance to the European Women’s Championship semi-finals.

Few would have predicted such a close encounter as Germany faced their toughest test yet in their quest for a record-breaking eighth European championship.

After stealing the ball from an Austrian defender, Klara Buhl crossed the ball into the box where Alexandra Popp, who was going for her fourth goal in as many games, left the ball for the waiting Lina Magull to score the game’s first goal.

As Austrian goalkeeper Manuela Zinsberger tried to play out from the back but failed, Popp pushed a boot out to nudge the ball into the goal in the closing seconds of the game.

The Wolfsburg attacker is now within one goal of England’s Beth Mead in the race for the Golden Boot after scoring in four straight Euro games, tying the mark set by Heidi Mohr between 1989 and 1993.

“Austria was a very challenging opponent, making the game very tense. I’m glad to have completed my fourth goal, and I’m also glad and proud of the squad “said Popp.

“We weren’t the top pick at first, but now the entire world knows who we are. We are so strong because of our tremendous sense of unity, which is why I believe that history has not yet come to an end.”

Despite having 117 international appearances under her belt, Popp had never competed in the Euros after recovering from a long-term injury that sidelined her for 10 months before to the competition.

“I struggled greatly with my injury last year, so I’m grateful to be here. I feel fantastic, I’m free, and I can support my team “She spoke.

“We’re overjoyed to have so many admirers in attendance. We require encouragement and support, and that is a very positive feeling. We are encouraged by Germany’s backing and will work tirelessly to advance to the final.”

The team of Martina Voss-Tecklenburg had some luck against Austria, but they still have a lot to improve on before the semi-final matchup with France or the Netherlands in Milton Keynes on Wednesday.

Germany not without faults

On paper, it appears that Germany’s road to Euro 2022 has been an easy one. It has been up till this point.

They had many opportunities to increase their 1-0 lead, with Popp a constant threat and Buhl missing the open net after having a shot from a distance blocked.

Germany failed to exert the dominance they displayed in the group stages, and Austria squandered significant chances to square the score at 1-0. However, their perfect record of clean sheets in the tournament—the only side left with such a return—flatters their sporadic defensive fragility.

Austria was a surprise semifinalist in 2017, their second appearance at the Euros, although they were defeated by Denmark to miss out on a spot in the championship game.

Irene Fuhrmann’s team was unlucky as they three times struck the woodwork and put their regional rivals under more strain than any other team thus far.

Right after the game is a difficult time, she noted. “Looking back, the squad should be extremely proud of their performance, not just today but throughout the entire tournament. Germany was subject to our strict demands.”

Austria has only allowed two goals so far in this tournament, the first coming against England. They have also only managed three goals in total, and their bad final-third decisions have cost them.

Germany did not enter this competition as the clear favorite despite having won the championship on eight of the 12 occasions the Euros have been held.

Between 1995 and 2013, they won the trophy six times in a row, but in 2017, a shocking quarterfinal loss to eventual runners-up Denmark stopped their quest for a seventh straight victory.

It was difficult to predict what would happen because Chelsea’s Melanie Leupolz, who announced her pregnancy in March and injured Lyon midfielder Dzsenifer Marozsan prevented them from playing, but they appear to have developed as a team throughout the competition.

 

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French Grand Prix: Carlos Sainz to receive grid penalty

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French Grand Prix
  • Ferrari’s Carlos Sainz will start from the back of the grid at the French Grand Prix.
  • Sainz was third fastest, 0.338 seconds behind Leclerc.
  • George Russell was fourth fastest, 0.951 seconds slower than his Mercedes team-mate.

Carlos Sainz of Ferrari will start from the back of the grid in the French Grand Prix due to excessive engine part usage.

He currently only faces a 10-place fine for exceeding the allowed limit by utilizing a third electronics control device.

However, Ferrari is anticipated to take more components later this weekend due to the Spaniard’s engine fire in the Austrian Grand Prix, which will drop him to the back of the starting grid.

Charles Leclerc, a teammate of Sainz’s, set the tone during the first session.

Just 0.091 seconds separated Leclerc from title contender Max Verstappen as both drivers experimented with new components and concentrated on changes to their cars’ floors.

Sainz was third fastest, 0.338 seconds behind Leclerc, while racing on the old floor at Circuit Paul Ricard so Ferrari could compare the data from both designs before deciding which to use for the weekend.

Leclerc produced a flawless lap, but Verstappen made an error on his quickest lap by racing wide and bouncing over the curb on the exit of the Beausset double left-hander.

In the Mercedes, which also has new parts, George Russell was fourth fastest, but he lagged behind the leaders by 0.951 seconds.

As one of each team’s two mandated “young driver” outings, reserve driver Nyck de Vries was driving Lewis Hamilton’s vehicle. The Dutchman ran 0.5 seconds slower than Russell and placed eighth.

Prior to Sergio Perez in the second Red Bull, who spun out at Turn Six early in the session, Pierre Gasly was fifth fastest in the substantially modified Alpha Tauri.

Lando Norris of McLaren was seventh fastest, ahead of Alex Albon of Williams, De Vries, and Daniel Ricciardo of the second McLaren.

 

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Pakistan’s top superstars about to participate in Big Bash League Draft

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Big Bash League Draft
  • Top-ranked players across all formats, along with another 15 Pakistani players, will be at the BBL draft.
  • Haris Rauf, Imad Wasim, and Shadab Khan are also set to be drafted.
  • Wahab Riaz and Naseem Shah also plan to participate in the draft.

In addition to declaring their availability for the forthcoming Big Bash League 2022, Babar Azam, Mohammad Rizwan, and Shaheen Afridi have also been named as draft candidates.

The top-ranked players across all formats, along with another 15 Pakistani players, will be among the top cricketers in demand at the BBL draft, according to the facts.

The leading contender in the forthcoming draft will probably be Babar Azam, who is presently rated first in both the ICC T20I and ODI rankings and just reached 10,000 international runs across all forms.

First current international wicketkeeper-batter Mohammad Rizwan, who is currently ranked second in T20Is and has a T20I average of above 50, submitted his name for the draft.

Shaheen Shah Afridi, a left-arm pacer, will also be in great demand given his success in the 2021 T20 World Cup and his capacity to frighten the opposing batting units.

Haris Rauf, Imad Wasim, and Shadab Khan, who previously played for the Melbourne Stars, Melbourne Renegades, and Sydney Sixers, respectively, will also be included in the draft.

Additionally, Wahab Riaz and Naseem Shah also plan to participate in the draft.

 

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Pakistan Junior League seeks talented cricketers’ videos

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Pakistan Junior League
  • Pakistan Junior League (PJL) has opened doors for all gifted youngsters around the nation.
  • The inaugural PJL will start on October 1 and last for 14 days.
  • Six franchises will compete in the event which will be held at Lahore’s Gaddafi Stadium.

The Pakistan Cricket Board (PCB) earlier this year introduced the Pakistan Junior League for the first time in the nation’s history in an effort to uncover fresh talent for the national side.

The first season of the cricket league will start on October 1, but the management is working hard to get everything set and has this time opened doors for all gifted youngsters around the nation.

The Pakistan Junior League posted an invitation to participate in the inaugural U19-level competition on its official social media account.

PJL noted in the invitation to the players, “If you have special and unique cricketing talent, share it with us! Get a chance to be part of the PJL.”

By simply posting his footage to YouTube with the hashtags #PJL #Next11 #HuntfortheNext11, tagging three friends in the comments, and liking and sharing the post on social media, an interested player can submit an application.

The PJL would offer the ideal platform for young cricketers in the nation to polish their skills as they will compete with elite junior cricketers from across the world, the PCB chairman said when the league was announced.

It is significant to remember that six franchises will compete in the event. At Lahore’s Gaddafi Stadium, the league will start on October 1 and last for 14 days.

 

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PAK vs SL: Shaheen Afridi to miss second Test

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Shaheen Afridi
  • Pakistan pacer Shaheen Afridi will miss the second Test against Sri Lanka.
  • The 21st ICC Men’s Cricketer of the Year injured his knee on day four of the first Test.
  • Pakistan is third in the World Test Championship standings.

Pakistan pacer Shaheen Afridi will miss the second Test against Sri Lanka in Galle owing to a knee injury.

Afridi, the 2021 ICC Men’s Cricketer of the Year, injured his knee on day four of the first Test. Pakistan chased down the target in the first Test and won by four wickets. The visitors chased a target of 342.

Afridi was brilliant in the first Test, taking 4/58 and 0/21. The setback to the pace spearhead will be a significant blow for Pakistan, which wants to seal the series and boost its standing in the World Test Championship table.

Afridi will miss the Test but stay in Sri Lanka to finish his recuperation, according to sources.

In Afridi’s absence, the team management could draught all-rounder Faheem Ashraf or pacer Haris Rauf.

With a win in the second Test, Pakistan might reduce the gap on South Africa and Australia in the World Test Championship standings. Pakistan is third with a point percentage of 58.33.

 

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Pakistan’s debt rises by Rs. 6 Trillion due to rupee’s fall

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UNISAME calls for steps to curb further rupee depreciation
  • The dollar has appreciated by 45.44 rupees against the rupee under the new coalition government.
  • Currency devaluation pushed inflation to its greatest level in 13 years, according to figures.
  • The FX market may stabilize when trade data rise and the IMF Program is revived.

The weakening of the Pakistani Rupee (PKR) versus the US Dollar (USD) over the previous three-and-a-half months has added about Rs. 6 trillion to Pakistan’s external debt.

The dollar has appreciated by 45.44 rupees against the rupee under the new coalition government, sources said. This is the loss in computations, yet more counterpart rupees must be generated after depreciation.

The opposition parties submitted a No-Confidence Motion against Imran Khan on 8 March and 10 April, removing him from office.

During the new coalition government’s tenure, the free depreciation of the local currency versus the dollar has exacerbated the country’s foreign debt burden. Delay in IMF contracts, politics, oil prices, and increasing foreign fuel payments lowered the rupee value.

According to State Bank, Pakistan’s external debt and liabilities totaling $129 billion on 31 March 2022. (SBP). In March, the government’s external debt reached $100 billion. Banks’ external loans reached $5.8 billion while PSEs hit $7.3 billion. By March 2022, private sector foreign debt was $11 billion and direct investor debt was $4.2 billion.

In March, Pakistan’s overall debt was 53 trillion PKR, including 21.54 trillion in government external debt. End of March, the SBP reported Rs. 183.5 per USD. This amount is roughly Rs 27.54 billion.

After March, it rose by Rs. 45 due to political uncertainty, depreciating forex reserves due to hefty payments, the end of an IMF loan program, and other reasons that ignited the forex market.

Due to the rupee’s depreciation, Pakistan’s external debt has increased by roughly Rs. 6 trillion without new borrowings.

Any change in rupee value can reverse this “loss in calculation” and lessen the debt burden.

Experts say the PKR’s depreciation has raised the country’s debt burden and driven inflation in the last three months. They argued currency devaluation raises energy prices, which boosts inflation.

Pakistan’s inflation rate rose from 11% to 21% in three months (PBS). Currency devaluation pushed inflation to its greatest level in 13 years, according to figures.

Pakistan’s market-determined exchange rate system is influenced by trade deficit and market news. Fuel and other import payments have skyrocketed in the last half-year.

Former Finance Advisor Dr. Khaqan Najeeb said the current PKR adjustment is partly due to election results and Fitch’s downgrade. Letters of Credit (LCs) from energy imports in May and June 2022 are another crucial factor.

Low forex reserves and international factors limit SBP’s ability to moderate chaotic movement.

The dollar’s rise also hurts the rupee. The FX market may stabilize when trade data rise and the IMF Program is revived by August’s end.

 

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Snap plunges 35% after results as US stocks open mixed

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Snap US stocks
  • Snap shares down 35.4 percent after its quarterly loss nearly tripled to $422 million.
  • US stocks were mixed in the final session of a positive trading week.
  • Analysts caution there are still several key earnings reports to come.

Snap shares sank more than 30 percent early Friday following disappointing results as US stocks were mixed in the final session of a positive trading week.

About 30 minutes into trading, Snapchat’s parent company was down 35.4 percent as it pointed to a punishing confluence of increased competition, slowing growth of its revenue, “upended” advertising industry standards and macroeconomic woes in reporting that its quarterly loss nearly tripled to $422 million.

Stocks have risen the last three sessions, generating hopes that the market may have pivoted after a bruising first half of 2022.

But analysts caution there are still several key earnings reports to come, as well as next week’s Federal Reserve meeting and influential economic releases such as a reading of second-quarter US growth.

The Dow Jones Industrial Average was up 0.1 percent at 32,063.01.

The broad-based S&P 500 shed 0.1 percent to 3,994.13, while the tech-rich Nasdaq Composite Index fell 0.4 percent to 12,009.75.

Among other companies reporting results, American Express gained 4.2 percent and Schlumberger won 6.0 percent, while Mattel dropped 2.4 percent.

 

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Russia’s central bank cuts key interest rate to 8.0%

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Russia's central bank
  • The Bank of Russia cut its key interest rate to 8.0 percent from 9.5 percent.
  • But it warned that “the external environment for the Russian economy remains challenging”.
  • Annual inflation is expected to drop from 12-15 percent to 5-7 percent in 2023.

Russia’s central bank on Friday cut its key interest rate to below the level seen before President Vladimir Putin sent troops into Ukraine in February.

The Bank of Russia cut its key interest rate to 8.0 percent from 9.5 percent, pointing to a “further slowdown in annual inflation”.

But it also warned that “the external environment for the Russian economy remains challenging.”

Days after President Vladimir Putin sent troops into Ukraine and the West pummelled Moscow with sanctions in response, the central bank hiked its key rate to 20 percent from 9.5 percent to prop up the plunging ruble.

Since then, the ruble has staged a spectacular rebound, leading the central bank to repeatedly cut its key rate to tame the Russian currency’s rise.

“The Central Bank of Russia keeps its foot on the accelerator,” Capital Economics said in a note to clients, adding it expected interest rates to end the year at around 7 percent.

The central bank said in a statement that it expected annual inflation to edge down to 12-15 percent this year, to 5-7 percent in 2023, and return to 4 percent in 2024.

The statement said companies were still facing difficulties with production and logistics.

“However, their business sentiment is gradually improving as suppliers of finished products, raw materials and components, as well as sales markets, diversify,” the central bank said.

“Consumer activity remains subdued, but is beginning to recover, including amid a gradual increase in imports of consumer goods.”

The central bank said it would hold its next rate review meeting on September 16.

 

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DISCOs to earn Rs.155 billion from fuel adjustment

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DISCOs to earn Rs.155 billion
  • K-Electric and ex-WAPDA distribution companies want fuel cost adjustment for June 2022 to generate Rs. 155 billion.
  • NEPRA will hear both applications on July 28, 2022.
  • K-Electric’s high FCA was caused by 50% more expensive LNG and 74% more CPPA power.

K-Electric (KE) and ex-WAPDA distribution companies (Discos) want a fuel cost adjustment for June 2022 to generate Rs. 155 billion.

According to a plea by the Central Power Purchasing Agency (CPPA) on behalf of ex-WAPDA distribution companies (XWDISCOs), the June FCA is Rs. 9.90 per unit. These modifications will produce Rs. 133 billion in August.

The additional FCA is 166% greater than the June reference fuel cost, illustrating a large disparity between real and predicted fuel costs.

K-Electric asked for Rs. 11.4 per unit higher FCA for June, which will yield Rs. 22.25 billion in August. NEPRA will hear both applications on July 28, 2022.

CPPA said users were only paying Rs. 5.93 per unit for fuel. Fuel cost Rs. 15.84 per unit. Fuel prices were adjusted by Rs. 9.9 per unit.

KE’s high FCA was caused by 50% more expensive LNG and 74% more CPPA power.

Due to declining nuclear production, Pakistan imports pricey RLNG to meet electricity needs. Hydropower generation has also been reduced due to the technical failure of the Neelum Jhelum Hydroelectric Project (NJHEP).

 

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Gold price jumps Rs 900 per tola in Pakistan

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Gold price in Pakistan
  • In the international market, bullion prices gained $ 42 per ounce to $ 1,724.
  • Gold prices in Pakistan are roughly Rs 3,000 lower than in Dubai.
  • Silver prices in the domestic market remained constant.

Gold’s price rose by Rs 900 on Friday, in accordance with an uptick in the international market and a declining Pakistani rupee.

According to rates provided by the All Sindh Sarafa Jewellers Association (ASSJA), gold prices in the local bullion market climbed by Rs 900 per tola to Rs 145,400.

The price of 10 grams of gold increased by Rs 772 to Rs 124,657.

A day earlier, the precious metal ended at Rs 144,500 per tola and Rs 123,885 per 10 kilos.

In the international market, bullion prices gained $ 42 per ounce to $ 1,724, once again rising above $ 1,700.

Gold prices in Pakistan are roughly Rs 3,000 lower than in Dubai.

Meanwhile, silver prices in the domestic market remained constant at Rs 1,580 per tola and Rs 1,354.60 per 10 grams today.

 

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State Bank Governor’s nomination due next week: Miftah

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fixed tax
  • The government will name the new governor of the State Bank of Pakistan (SBP) by the upcoming week.
  • Finance Minister Miftah Ismail said the SBP was not responsible for the recent depreciation of the Pakistani Rupee.
  • He acknowledged that the pressure on the rupee was also a result of the political crisis.

The government will name the new governor of the State Bank of Pakistan (SBP) by the upcoming week, according to Finance Minister Miftah Ismail’s remarks on Thursday.

The finance minister informed reporters during a news conference that the central bank was not responsible for the recent depreciation of the Pakistani Rupee. He was joined by Defense Minister Khawaja Asif.

The minister continued by predicting that in the upcoming month, the value of the rupee relative to the US dollar will stabilize.

The large import bill from the previous month, according to the finance minister, was one of the factors holding back the rupee.

He acknowledged that the pressure on the rupee was also a result of the political crisis that followed the PMLN’s crushing defeat in the most recent by-elections.

He stated that fewer fuel imports are anticipated for July, which will ease pressure on the local currency and result in a substantially lower import bill.

The coalition administration would forgo its political capital for the benefit of the nation, the finance minister said, adding that the economy is headed in the right direction.

 

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Facebook home feed about to be updated

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Facebook home feed
  • Facebook is making an effort to compete with rivals like TikTok for users’ attention.
  • The platform is dividing its main “home” area into two tabs.
  • Facebook seems to want to give users a choice as to whether they want to engage with the new direction.

The platform is dividing its main “home” area into two tabs as of Thursday. In order to effectively compete with rivals like TikTok for users’ time and attention, Facebook is making an effort to show users more engaging, recommended content and to become what cofounder Mark Zuckerberg has referred to as a “discovery engine.”

Users will now see a home tab when they open Facebook (FB), which is intended to assist them in finding new material based on tailored, machine learning-powered recommendations.

The firm is now encouraging users to post to both platforms, and the home tab will also include Facebook Stories and Instagram Reels.

There will be a new “feeds” tab next to the home tab that will show users the most recent postings from friends, groups, and sites they follow instead of any suggested content.

Users can also create a “favorites” feed within the feeds tab to filter the friends, pages, and groups that are most important to them.

According to the firm, adverts would still be shown on both tabs. Additionally, the other tabs that users are accustomed to, such Facebook Watch and Groups, will not change.

The business issued a statement saying, “We recognize you may desire additional alternatives when it comes to selecting and viewing your material.”

“Sometimes you might already know what you’re looking for, like the most recent postings from your groups, or you could just want to find something interesting to read.”

The platform’s new appearance follows last week’s revelation that users will now be able to have up to five profiles under each account on Facebook.

According to Facebook, the feature is meant to make it simpler for users to customize their experience when interacting with particular communities on the platform, such as friends vs. coworkers.

Years ago, it was claimed that Facebook and Instagram were replicating competing platforms’ hottest new features rather than coming up with their own.

Nearly equivalent to TikTok videos are Instagram Reels, which Meta is now working to more deeply integrate with Facebook (in fact, when the feature first launched, many users simply uploaded TikTok videos to Instagram, complete with the rival logo).

The platform improvements also appear to be an effort to emulate TikTok’s success in retaining users by displaying recommended content, while Facebook seems to want to give users a choice as to whether they want to engage with the new direction or stick with the site as it has always been.

TikTok’s aggressive competition is being fought off by Facebook parent firm Meta (FB), which is one of the factors impeding the business’s profit growth.

Investors were stunned by Meta’s uncommon quarterly user growth stopping report in February, whose trend somewhat improved in the first three months of this year.

The business is expected to release financial results for the three months that ended in June next week. It had anticipated total sales of between $28 billion and $30 billion, which would be roughly in line with the performance of the previous year.

The transformation from a social network firm to one focused on a “metaverse” powered by augmented and virtual reality is now underway at Meta. But in order to finance investments into that ambition, it must continue to reap money from its current platforms.

Beginning on Thursday, the new feeds tab will start showing up in the shortcuts bar for select Facebook users. It is anticipated to roll out internationally over the course of the following week.

 

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ECB security delegation visit PSCA

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ECB security delegation visit PSCA
  • A security delegation from the England and Wales Cricket Board visited the Punjab Safe Cities Authority (PSCA) in Lahore.
  • Using 4G/LTE technologies, PSCA provided a thorough briefing on the security measures.
  • The security delegation was impressed by the camera-assisted surveillance.

The Punjab Safe Cities Authority (PSCA) Headquarters Qurban Lines was visited by a security delegation from the England and Wales Cricket Board (ECB) and representatives of the Pakistan Cricket Board (PCB) on Thursday to examine the security preparations for England’s impending tour of Pakistan.

There were Richard Snowball, Robert Lynch, John Carr, and Reg Dickason in the England and Wales Cricket Board (ECB) delegation.

Using 4G/LTE technologies, PSCA Chief Operating Officer Muhammad Kamran Khan provided a thorough briefing on the security measures in place at the Gaddafi Stadium, airport, hotel, and along parking roads.

He also provided information on the use of police force and the assistance of law enforcement organizations to ensure complete security.

The security measures put in place for the PSL, Australia, Sri Lanka, and Bangladesh matches played in Lahore were shown to the ECB delegation in a briefing.

The security delegation was impressed by the camera-assisted surveillance and expressed satisfaction with the PSCA’s security measures.

The delegation from the PSCA received a memento shield as payment for their visit.

 

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