KARACHI: Pakistan Rangers Sindh on Tuesday, in a joint intelligence-based operation, with police held three most-wanted suspected robbers from the Liaquatabad area and seized arms and ammunition from their possession. A Sindh Rangers spokesman said that during the interrogation, the accused named Khurram Shehzad, Saleem and Rehan confessed that they along with their other accomplices … Read more
KARACHI: Association of Builders and Developers of Pakistan (ABAD) has postponed its protest rally from ABAD House to Chief Minister House after assurance from the Sindh Government of accepting Charter of Demand including regularisation of buildings. Addressing media at ABAD House, Chairman ABAD Mohsin Sheikhani said that ABAD has postponed its protest rally for two … Read more
KARACHI: PostEx, a provider of courier and financing to e-commerce companies, completed one of the country’s largest early-stage funding to help with its expansion plans, Bloomberg reported on Monday. The Lahore-based startup raised $8.6 million through multiple tranches in its seed funding, according to its founder Muhammad Omer Khan. The latest tranche was led by Global Founders … Read more
KARACHI: At least three people were killed and nine others wounded in a road accident near Landhi Bacha Jail on Monday in Karachi. Rescue sources said the coaster van was carrying employees of a private van that turned turtle after colliding with a passenger bus. The deceased and injured have been shifted to the Jinnah … Read more
KARACHI: Sindh Governor Imran Ismail has inaugurated the UAE Visa Centre in Karachi. UAE Culture, Youth and Social Development Minister Sheikh Nahyan bin Mubarak Al Nahyan and Consul General Dr Salem Al-Khaddeim Al-Dhanhani were also present on this occasion. Governor Imran Ismail said that during the last few years Pakistan and the UAE have laid … Read more
KARACHI: Two people were injured in a cylinder blast at a shop near Korangi’s Jalebi Chowk on Saturday. The injured have been shifted to Jinnah Hospital for treatment. One of the injured was identified as 36-year-old Kamran, while the other person’s identity is yet to be determined. In another incident, Jackson Police arrested culprits who … Read more
KARACHI: Chief Justice of Pakistan Gulzar Ahmed on Friday observed that the country is apparently being run by a black economy of real estate and construction sector and every person wants to invest in the business of lands. He made these observations, while heading the SC bench, comprising Justice Ijaz Ul Ahsan and Justice Qazi … Read more
KARACHI: Police on Friday baton-charged protestors holding a sit-in demonstration called by the Association of Builders and Developers of Pakistan (ABAD) against the demolishment of Nasla Tower. The Nasla Tower is being razed to the ground on the directives of the Supreme Court of Pakistan. Chief Justice of Pakistan Gulzar Ahmed has ordered the city’s … Read more
KARACHI: Commissioner Karachi Muhammad Iqbal Memon on Friday assured a delegation of the Polio Oversight Board that the city administration would continue its efforts to eliminate the poliovirus from the city. The delegation appreciated the efforts being made by the city administration and all the deputy commissioners when they called on the city officials. Read … Read more
KARACHI: A delegation of the Pakistan Yarn Merchants Association (PYMA), led by its chairman Saqib Naseem, visited the International Trade and Industrial Fair in Karachi, a statement said. The delegation was welcomed at the stall of Diwan International and briefed by Muhammad Hussain Diwan, chief technology officer and Muhammad Mahad, national sales manager. Diwan deals … Read more
KARACHI: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday refuted claims that the government would introduce any new taxes in the mini-budget following an agreement with the International Monetary Fund. But went on to say that the government would withdraw some of the exemptions granted to the business community. Addressing … Read more
KARACHI: The Supreme Court of Pakistan on Thursday directed the National Accountability Bureau (NAB) Chairman Justice (retd) Javed Iqbal to withdraw more than 100 inquiries assigned to one of its officers who showed negligence while investigating a case related to the allotment of plots carved out from a public park in Al Habib Cooperative Housing … Read more
KARACHI: The Sindh Health Care Commission on Thursday took strict action against two healthcare facilities in Korangi for violating government-approved regulations. In a swift operation in Korangi District of Karachi, the anti-quackery team conducted raids at the Ahmed Health Care Centre and Masha Allah Medical Center in Korangi No 3. The officials partially sealed the … Read more
KARACHI: The Pakistan Stock Exchange (PSX) announced temporary changes in the duration for closing price determination and market timings, bourse filing said on Thursday. The temporary changes come in the context of reclassification of Pakistan from the MSCI Emerging Market Index to MSCI Frontier Market Index, it added. The ‘closing price’ of securities will be … Read more
KARACHI: At least two people travelling to Iran were killed in a road accident on Northern Bypass on Thursday in Karachi. The passenger bus, which collided with a truck, was carrying mostly pilgrims. The mishap left one man and one woman dead and 12 others wounded. Officials from the Abbasi Shaheed Hospital said that the … Read more
KARACHI: The Supreme Court of Pakistan on Wednesday directed Commissioner Karachi to immediately commence the demolition of Nasla Tower located at the city’s Shahrah-e-Faisal and submit a report on the orders. When a three-member bench headed by Chief Justice Gulzar Ahmed assembled at the apex court’s Karachi Registry, the top judge inquired from the commissioner … Read more
KARACHI: Additional District and Sessions Judge (South) Faraz Ahmed Chandio has issued arrest warrants for the prosecution witnesses that failed to appear before the court to record their statements in the murder trial of a TikToker in Karachi. The victims, Muskan Sheikh, Amir Khan, Rehan Shah and Saddam Hussain, were killed near Anklesaria Hospital in … Read more
KARACHI: The rupee gained 47 paisas against the dollar on Tuesday after certainty in external inflows. The exchange rate ended at Rs174.30 against the dollar from the previous day’s closing of Rs174.77 in the interbank foreign exchange market. The dealers said the market opened positively; following an announcement made by Adviser to the Prime Minister … Read more
KARACHI: The Pakistan Stock Exchange (PSX) made it mandatory for the Trading Right Entitlement (TRE) certificate holders to segregate customers’ funds and securities from their own funds, a statement said. “Every TRE certificate holder is to ensure the protection of its customers’ funds and securities at all times and must refrain from comingling of its … Read more
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has said that it fully supports general industries’ resistance against the suspension of gas supplies, as it would not only affect their own production but would also have a severe impact on the export-oriented industries, as well because both were linked with each other and it … Read more
KARACHI: Power generation went up 10.3 per cent on a year-on-year basis to reach 15,183MW during October 2021, compared with 13,767MW in October 2020, a research report by Arif Habib Limited showed. The rise in generation was owed to higher generation from nuclear, furnace oil (FO) and wind. Major contributors to power generation during October … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday clarified news reports related to average inflation forecasts. The SBP said that in some sections of the media, SBP’s average inflation forecast of 7-9 per cent in FY22 is being interpreted as the ‘inflation target’ and being compared to the inflation targets of other countries. This … Read more
KARACHI: The rupee made a sharp recovery against the dollar at the opening of the interbank foreign exchange market on Monday. The rupee recovered Rs1.63 as the exchange rate is presently at Rs173.61 to the dollar. The rupee ended at Rs175.24 to the dollar in the interbank foreign exchange market last Friday. Currency dealers attributed … Read more
ISLAMABAD: Secretary Transport Sindh Sharik Ahmed has said 50 new buses will be operated in Karachi from the end of January 2022. The buses in Karachi will be the first phase of the project under which 250 buses will be operated in Sindh to provide better transport facility to the masses. The project is being … Read more
KARACHI: The rupee is likely to make some recovery against the dollar next week due to significant rise in the key policy rate. The Monetary Policy Committee (MPC) in its meeting on November 19, 2019 decided to increase the key policy rate by 150 basis points to 8.75 per cent. The decision was unexpected for … Read more
KARACHI: The prices of food commodities continue to rise, as Pakistan records its worst food inflation in recent times. Rupee depreciation, rising trade deficit and the hike in petroleum products prices make it difficult to make ends meet for the common man. The essential food items get dearer, as there is no sign of relief … Read more
KARACHI: The Pakistan stocks are expected to come under pressure after the State Bank of Pakistan (SBP) increased the benchmark interest rates by 150bps against the general consensus of 100bps to 8.75 per cent, dealers said. An analyst at AKD Securities said the news of the current account deficit deteriorating to $1.7 billion would also … Read more
KARACHI: Police on Saturday arrested a group of drug peddlers who took orders on phone calls in Karachi. Police said the suspects would deliver drugs in a rickshaw pretending to be going to drop passengers at a destination. Police carried out a raid on a tip-off and arrested three suspects, including the rickshaw driver, from … Read more
