Indus Motor Company Profit Drops by 39% Despite Investments In High-return Schemes

The US SUN

The assembler of Toyota vehicles in Pakistan, Indus Motor Company (IMC), announced a 39% decline in net profit for the current financial year that ended on June 30, 2023.

The company believes diminishing demand of four-wheelers, rupee devaluation and skyrocketing cost of car financing are responsible for the decline in profit.

The company’s profit after 39% drop stands at Rs9.66 billion as compared to Rs 15.80 billion in the financial year 2022 (FY22).

According to the IMC’s profit and loss accounts, this loss could have been more had the company not take timely smart investment decisions. The investment in high-return schemes acted as a buffer against the dwindling demand of vehicles and slowed production.

The per share earnings of IMC is recorded at Rs 122.96 for the FY23 as compared to Rs 201.04 last year. Despite the loss, the company has announced a cash dividend of Rs 29 per share this year.

The IMC issued a press release stating that the sales of completely built units (CBU) and completely knocked down units (CKD) was dropped by 58%, and only 31,602 units were sold in FY23 as compared to the sale of 72,438 units last year.

Ali Asghar Jamali, IMC CEO said,“The automobile industry in Pakistan is facing the worst-ever economic downturn due to prevailing circumstances. Global disruptions, import restrictions on CKD kits, and demand contraction have led to plant closures, impacting industry employment.”

Nationwide Protests Against Inflated Electricity Bills Continue

Pakistanis have refused to accept the recent exorbitant hike in electricity bill and the citizens across the country are condemning this act in different ways. Many people have come out to protest, rally and burn electricity bills on roads to record their protest.

In Lahore, frustrated citizens in different neighborhoods including Rehmanpura, Shahdara, Raiwand Road, Green Town and Nawabpura took to the streets and voiced their anger towards the unjustified power tariff and the taxes included in it.

The citizens said that they will not pay the bills until the government retracts this increase.

The people of Narowal also gathered to protest against the inflated electricity bills. Similar protests were also seen in different parts of Punjab including Multan, Faisalabad, Taunsa, Vehari, Rahim Yar Khan and Attock. In Multan, protestors blocked the road and burned tyres, affecting the flow of traffic.

The residents of Rehmanpura gathered in front of the Lahore Electricity Supply Company (LESCO) office and recorded their protest.

In Rawalpindi, the traders and business community protested against the escalated bills and expressed their concerns.

The people of Peshawar also protested against the overbilling and gathered in different areas including Kohat Road, Asia gate, and Ring Road.

People in Lower Dir, Nowshera, Swabi and other cities of KPK also seemed unhappy with the hyped up electricity tariff and protested.

Karachi’s traffic was also disturbed last night due to an ongoing protest at Aisha Manzil against the unnecessary hike in electricity charges.

Would You Pay $450 for This Unique Picnic While Hanging 295 Feet Above a Waterfall?

For those who love thrill and adventure, there is a unique picnic spot waiting for you. Located in Rio Grande do Sul, Brazil, onlooking the magnificent Cascata de Sepultura, this wooden table suspending in the air promises an extraordinary experience.

An America couple was the first one to highlight this destination while searching for interesting activities to do in Brazil. Since then, the spot has become a viral sensation. The couple also shared their video while having snacks and sipping on red wine.

Christianna Hurt and her boyfriend paid $450 for this breathtaking experience that apparently lasted for only 15 minutes.

She said, “It’s only about a 15-minute experience total… the experience is more about the scenery, not the food.”

Christianna further said that they had to drive a 4×4 to reach this destination which is around 60 minutes drive from Caxias do Sul, a town in Brazil. Then they walked to the zipline platform and were then ascended. The couple was seen strapped into safety harness and their table was also secured safely to the zip line. After being carefully rolled over the waterfall, Christianna and her boyfriend unpacked the food and started munching on it.

The experience also includes a picture and drone video to make your beautiful memorable.

Punjab Governor Introduces Comprehensive Framework to Address Sexual Harassment in Universities

Punjab’s Governor, Baligh-ur-Rehman, has taken a resolute stride towards tackling incidents of sexual harassment in universities. In an official announcement, the governor has set up a comprehensive framework to proactively address and thwart cases of sexual harassment, prompted by recent occurrences within educational institutions.

The directive mandates universities to adopt specific measures aimed at fostering a safer environment for all members of their academic communities. The governor underlines the indispensability of shielding against sexual harassment to uphold an environment conducive to both learning and personal development. He unequivocally declares a zero-tolerance stance towards any form of sexual harassment.

The prescribed measures encompass the establishment of Inquiry Committees tasked with investigating complaints, ensuring expedited resolutions within 45 days, and appointing a senior female faculty member as a designated contact person to receive all reports. This contact person, positioned independently from the university’s management hierarchy, will guarantee the utmost confidentiality and privacy during complaint handling.

Moreover, the policy is to be integrated into the university’s code of conduct, translated into local languages, promoted through various awareness channels, and enforced as a ‘Code of Conduct’ that unambiguously outlines unacceptable behaviors and their consequences.

Universities are strongly encouraged to institute a transparent and easily accessible ‘Complaint Mechanism,’ educating both students and staff about identifying, preventing, and responding to sexual harassment. The directive also underscores the significance of establishing a robust monitoring and evaluation system, ensuring a continuous enhancement of the responsiveness of this mechanism.

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Saudi Arabia Introduces New Temporary Work Visa for Foreigners

Saudi Arabia has launched a new Temporary Work Visa to attract skilled short-term workers.

The new visa is easier to acquire than the previous Work Visit Visa and is not limited to technical and specific roles. It is also open to a wider range of workers, including female workers above the age of 40.

To apply for the Temporary Work Visa, a Saudi company must sponsor the visa and register with the Ministry of Human Resources and Social Development. The visa usually lasts for one year and allows entry into Saudi Arabia for periods of up to 90 days at any one time.

The new visa is a sign of Saudi Arabia’s commitment to attracting foreign talent and supporting its economic development.

Gas Shortage in Karachi: CNG and Industries Face Supply Interruptions

Due to a critical shortage of natural gas in Karachi, the Sui Southern Gas Company (SSGC) has made the tough decision to halt gas supply to CNG stations for a duration of 72 hours, and to industries for 48 hours.

As per the SSGC spokesperson, gas supply to all CNG stations within Sindh province, including RLNG pumps, will be suspended for 72 hours starting from 8:00 AM on Saturday, August 26, until 8:00 AM on Monday, August 28. This measure is aimed at ensuring the general public’s gas needs are met during this period.

In addition to this, gas supply to all general industries will also be temporarily ceased for the next 48 hours, starting from 8:00 AM on August 26. While the exact cause for this gas shutdown hasn’t been disclosed by the company, the prevailing gas shortage is the most likely reason.

On a related note, Pakistan and Turkmenistan recently joined forces to expedite progress on the TAPI gas pipeline project. This development was the outcome of a meeting between Turkmenistan’s Ambassador, Atadjan Movlamov, and Pakistan’s Interim Federal Minister for Energy, Muhammad Ali.

The minister emphasized the vital role of gas in Pakistan’s economy and stressed the need for assertive approaches in addressing the country’s escalating energy demands.

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2,227 Children Became Victims of Sexual Abuse in Pakistan in First Six Months of 2023, Sahil Reports

Premium ride-hailing service Yango to begin operations in Faisalabad after Islamabad and Lahore

Faisalabad, August 28, 2023: The international ride-hailing service Yango, has started its operations in Faisalabad. Operating globally in over 20 countries, including UAE, Norway, Finland, Bolivia, Peru, Morocco, and Algeria, Yango is making massive strides in its mission to introduce its safe, reliable, and affordable ride-hailing service to the vibrant and flourishing Pakistani economy by launching in Faisalabad after Lahore, Rawalpindi, and Islamabad.

Yango’s mobile application is accessible in Pakistan for all Android and iOS users who are in need of a car and bike ride to their desired destinations and they get to enjoy a user-friendly commute experience. The app accurately identifies the user’s location and promptly connects them with the closest available driver, resulting in reduced waiting periods, thanks to its geolocation technology.

Yango collaborates with local partners to offer its services through its app giving ownership to the partners and the drivers. It relies on its smart distribution features and significantly reasonable trip costs. The app allows for picking up rides quickly, maximizing fuel efficiency, which ends up keeping both the customer and driver happy.

Yango is committed to ensuring ride safety by providing various features, such as route sharing, quick access to emergency contact numbers, and the ability to report reckless driving. The ride stands apart from other services by allowing users to make multiple stops during the ride and make multiple bookings from the same cellular device.

Yango remains committed to its vision of prioritizing safe and budget-friendly rides for passengers from all walks of life and creating opportunities for lucrative earnings for the drivers. The service aims to deliver greater benefits to partners, drivers, users, and society as a whole by taking significant steps to ensure affordability, reliability, and safety!

About Yango

Yango is an international online service for ordering rides. It already operates in over 20 countries across Europe, Africa, the Middle East, and Latin America. Unlike other ride-hailing services, the Yango app uses its own mapping, routing, and navigation, as well as smart order distribution.

To download the Yango App, please: Click Here

August Super Blue Moon; A Treat for Stargazers and Astronomers

Stargazers and astronomers are really looking forward to the Super Blue Moon which is expected to appear on August 30th. This rare phenomenon is going to be a visual treat for skywatchers across the globe.

For those who do not know, Super Blue Moon is a unique event where several lunar phenomena take place. According to NASA, there are three full moons in a season and this is the third one, making it a Super Blue Moon.

On this day, the moon will get closer to the earth and Skywatchers will be able to see a 7% larger moon than we usually see. While this difference may not be very much visible to the naked eye, astronomers will be able to capture it perfectly with their equipment.

Get ready to witness this celestial marvel. Also, remember that the Super Blue Moon is just a term used to define this Lunar phenomenon and the moon will not actually turn blue.

The re-occurrence of Super Blue Moons varies greatly and may take up to 20 years. The next Super Blue Moon is expected to appear in the January and March of 2037.

2,227 Children Became Victims of Sexual Abuse in Pakistan in First Six Months of 2023, Sahil Reports

According to the report, more than 2,227 children became victims of sexual abuse in Pakistan in the first six months of 2023. The report was issued on Thursday by Sahil, a non-profit organisation, which is working for the protection of children.

The report revealed that on average daily 12 children suffered from sexual abuse in Pakistan from January to June 2203.

The document states that the number of female and male children who suffered from sexual abuse during this period were 1,207 and 1,020 respectively.

Sahil relied on the media reports to compile this data on child molestation, however, it is feared that the actual number of cases is much higher as many of the cases are never reported.

According to Sahil, the number of reported child abuse cases were 4,253 last year and 2,123 of these cases were of sexual in nature.

The provincial coordinator Sahil, Ansar Sajjad Bhatti, told the media that four child marriage cases have been reported in the first half of 2023 while a minor girl child was abducted during the same period. He further added that 22 boys and girls were subjected to sexual abuse in the madrassas.

Bhatti said that children in Pakistan were molested in different places including cars, clinics, hospitals, hotels, factories, prisons, wedding halls, cemeteries, and police stations.

The Sahil representative said that more than 1,648 sexual abuse cases were reported in Punjab, 314 in Sindh, 161 in Islamabad, 24 in Balochistan, four in Khyber-Pakhtunkhwa and four in Azad Jammu and Kashmir.

Furthermore, Sahil reported 53 incidents of child pornography and 963 incidents where the children’s life was put in danger. 760 of these children died, 265 drowned, 148 were murdered and 144 lost their lives in different accidents.

Sahil suggests setting up a child safety cell and running awareness campaigns to protect children from such incidents in the future.

Pakistan Shaheens squad announced for Asian Games

The Pakistan Cricket Board (PCB) has officially designated all-rounder Qasim Akram as the captain of the Pakistan Shaheens for their participation in the 19th Asian Games, slated to be held in Hangzhou, China. The competition will adopt the fast-paced T20 format and is scheduled to run from September 28 to October 7.

Qasim Akram, a promising 20-year-old cricketer, brings a wealth of experience, having already featured in 20 first-class matches and 40 T20 encounters. Notably, he captained the Pakistan U19 team during the ICC U19 World Cup in 2022, showcasing his leadership prowess.

Within the 15-member squad selected for the Asian Games, eight players have already donned Pakistan’s national colors at the international level. These seasoned campaigners include Aamir Jamal (2 T20Is), Arshad Iqbal (1 T20I), Asif Ali (21 ODIs, 55 T20Is), Haider Ali (2 ODIs, 33 T20Is), Khushdil Shah (10 ODIs, 24 T20Is), Mohammad Hasnain (9 ODIs, 27 T20Is), Shahnawaz Dahani (2 ODIs, 11 T20Is), and Usman Qadir (1 ODI, 23 T20Is).

Furthermore, among the 15-member squad, eight players—Aamir Jamal, Arafat Minhas, Arshad Iqbal, Omair Bin Yousuf, Qasim Akram, Rohail Nazir, Shahnawaz Dahani, and Sufiyan Muqeem—have recently been part of the Shaheens side. Notably, since May 2023, Pakistan Shaheens have embarked on extensive tours, visiting Zimbabwe, Sri Lanka, and Australia.

Their tour of Zimbabwe saw Shaheens dominate in the two four-dayers against Zimbabwe A, although they faced a 4-2 loss in the 50-over matches against Zimbabwe Select. Subsequently, they clinched victory in the ACC Men’s Emerging Asia Cup held in Sri Lanka in July, triumphing over India A by 108 runs in the final. However, they secured the runner-up position in the six-team Top End T20 Series held in Darwin, Australia, earlier this month.

Following the tournament’s regulations, the Shaheens will make their appearance in the Asian Games from the quarter-final stage, set for October 3 and 4. The semi-finals are scheduled for October 6, with the grand final slated for October 7. Additionally, a match for the bronze medal will also be contested on Saturday, October 7.

It’s noteworthy that the Pakistan men’s team previously secured a bronze medal during their inaugural and sole participation in the Asian Games, which was held in Guangzhou, China, in 2010.

Pakistan Shaheens Squad:

Qasim Akram (Captain)
Omair Bin Yousuf
Aamir Jamal
Arafat Minhas
Arshad Iqbal
Asif Ali
Haider Ali
Khushdil Shah
Mirza Tahir Baig
Mohammad Hasnain
Muhammad Akhlaq
Rohail Nazir
Shahnawaz Dahani
Sufiyan Muqeem
Usman Qadir

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PSO Reports 90% Drop in Annual profit

The Pakistan State Oil (PSO) reported that its profit dropped by 90% in the financial year 2023, mainly because of an increase in the cost of production, inflation, and other financial vulnerabilities. The state-owned oil company’s profit stood at Rs 9.82 billion for the year that ended on June 30th.

In the previous financial year, PSO’s consolidated profit was Rs. 95.72 billion. The company stated that the increased circular debts are damaging its financial health to a great extent.

The report said, “A number of options are under discussion with the government to resolve the issue and reduce the unwarranted onus on PSO’s financials.”

According to the detailed financial analysis shared, for the first nine months (Jul-Mar) of the financial year 2023, “circular debt continued to be a major concern. Receivables from Sui Northern Gas Pipelines Limited (SNGPL) increased by 65% from March 31, 2022, increasing PSO’s average borrowings by 157% and finance cost by 995 basis points compared to the same period of last year.”

It further added, “FY23 continued to be fragile and turbulent on both the global and domestic fronts. World economies, including Pakistan, continue to battle high inflation and regressed growth with increasing financial vulnerabilities.”

The demand of petroleum products overall declined this year mainly due to the economic meltdown and increased fuel prices. The white oil sales was dropped by 19.6%, motor gasoline decreased by 17.1%, and diesel sales declined by 24.9%.

Scientists Decipher Blueprint of ‘Y’ Chromosome; Could Be a Breakthrough in Understanding Infertility in Men

In a remarkable advancement in scientific research, scientists have successfully deciphered the blueprint of the human genome present in males; the ‘Y’ chromosome. With this discovery, scientists are hopeful to understand the core reason behind male infertility.

For the first time ever, scientists revealed the complete blueprint of the Y chromosome. The Y chromosome is one of the two sex chromosomes (X & Y) that is present in males and is responsible for determining the male gender in the offspring; the X chromosome is associated with females. The Y chromosome is threadlike in structure and carries genetic information from one cell to another.

“Many of these genes are important for fertility and reproduction, and especially spermatogenesis, so being able to catalog normal variation as well the situations when, for example, azoospermia (an absence of sperm in semen) occurs, could be helpful for IVF (in vitro fertilization) clinics as well as further research into the activity of these genes,” Cechova said – a scientist involved in the research.

According to scientists, some more Y chromosomes have also been identified. It was also revealed that previously some Y chromosomal DNA was mistaken for bacteria, which is not the case and further research is going on to understand the nature of this DNA.

Cechova added, “We now have a recipe on how to assemble the Y chromosome fully, which, while expensive at the moment, can translate into personalized genomics in the future.”

200 Dinosaurs Participated In This Weird Race That Happened in Seattle, US

Ever seen dinosaurs running on a track? Yes, the dinosaurs do not exist anymore but they do appear at the T-Rex World Championship each year.

More than 200 individuals donning inflatable T-Rex dinosaur costumes ran for the title of the 2023 T-Rex World Championships happened at Emerald Downs in Seattle. The event was first organized as a team-building activity by a company associated with pest control.

The winners of the race were identified as Ocean Kim from Hawaii, Colton Winegar from Idaho, and Seth Hirschi from Renton.

It is believed that the real Tyrannosaurus Rex dinosaurs lived on the planet Earth nearly 65-67 Million years ago. According to a study, there were around 2.5 billion dinosaurs who used to live here.

You Will be Amazed by How Sony Marketed its Famous Walkman to Show It Is Waterproof

Sony’s Walkman W270 Series caught a lot of attention in 2014, mainly because of the creative idea it was promoted in. The waterproof headphones were actually put in water bottles to make imcreaye believability. The idea was so amazing and clutter-breaking that people are still discussing it today.

The headphones did not get enough attention initially in New Zealand and not many people seemed interested in buying them. Considering this, the company put the headphones in water bottles and started selling them in pools and gyms at $99.95. Suddenly, this idea clicked and people started buying them. The headphone sales skyrocketed and Sony was completely sold out by the end of 2015. The company successfully sold 380% more headphones than they anticipated.

These headphones were great for sportsmen, specifically for swimmers who remain underwater. They were designed to work in the presence of water and could work for around an hour underwater.

Illegal Iranian Petrol Trade Sparks Safety Concerns in Karachi

Karachi is currently grappling with a pressing issue of illegal Iranian petrol sales rampant across the city. As per a recent media report, certain individuals have established unauthorized petrol distribution operations, frequently peddling Iranian gasoline in makeshift plastic containers.

This illicit trade not only poses severe threats to public safety but also undermines legitimate businesses and government efforts aimed at regulating the petroleum industry.

Local law enforcement agencies have taken cognizance of this alarming issue and are gearing up to address it. However, disconcertingly, the report also shed light on a disheartening twist – instead of cracking down on the illegal trade, some police officers were allegedly involved in purchasing gasoline from these illicit operators.

Additionally, past incidents have vividly demonstrated the perils associated with unrestricted gasoline sales in such unregulated environments. Karachi has witnessed multiple fires stemming from mishandling and improper storage of fuel, placing both lives and property in jeopardy.

In response, concerned citizens have fervently appealed to the authorities to take swift action against the hazardous and unlawful sale of fuel in these unsafe conditions.

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Illegal Iranian Petrol Trade Sparks Safety Concerns in Karachi

Gas Shortage in Karachi: CNG and Industries Face Supply Interruptions

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Illegal Iranian Petrol Trade Sparks Safety Concerns in Karachi