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Business Community Criticizes SBP for Keeping Interest Rate at 11.5%

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Pakistan to Honor Top Freelancers After They Generate $1.1 Billion in IT Exports During FY2025-26

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JS Bank Complaint Leads to FIR Against Four Southland Flour Mill Partners Over Alleged Rs. 100 Million Loan Default

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Gold Prices Continue to Fall in Pakistan as Global Market Weakness Pushes Rates Lower

Internet Shutdown Cost the Govt: Nearly Rs 86 Crore in Tax Revenue during last 3 days: Reports

Internet Shutdown

The telecom sector has suffered a loss of 2 billion 46 crores due to the riots across the country in three days.

According to telecom industry sources, the government gets 28.5 crore tax revenue per day from mobile broadband service and the three-day shutdown has cost the government about 86 crore tax revenue.

According to the All Pakistan Software Export Association, a day’s turnover of the IT sector is 12 million dollars and in three days, the IT sector has suffered a loss of 10 billion.

Twitter Gave Verified Users an Access to its Encrypted Messaging

Image: The Economic Times

On Tuesday, the social media platform gave its verified users an early acces go it’s encrypted messaging service. According to the Twitter CEO, Elon Musk, the service is exclusively available for verified users who are able to install the latest version of the app.

Twitter Blue Subscription is now mandatory to get verified on the micro logging site. Its packages start from $8 per month or $84 per annum.

Elon Musk said, “when it comes to direct messages, the standard should be, if someone puts a gun to our heads, we still can’t access your messages.”

Rupee Bounces Back With a Record Gain Against US Dollar

Image: The News International

Thursday saw a sharp decline in the value of Pakistani Rupee against the US Dollar in open and interbank. However, on Friday, the local currency has gained Rs.13.86 against the American currency and now PKR stands at Rs 285. This is a record gain after which the US Dollar is now Rs 285.

On Friday, the US Dollar came back to Rs 286 after losing Rs 12. Earlier the American currency was standing at Rs 299 and reached a historic all-time high when it crossed Rs 300.

PMLN and supporters unhappy as Supreme Court orders to release Imran Khan immediately

In a significant turn of events, the Supreme Court of Pakistan has declared the arrest of Imran Khan, the former Pakistan cricketer and Prime Minister, as “unlawful” and ordered his immediate release. Chief Justice Umar Ata Bandial, presiding over the Supreme Court, deemed the warrants used for Imran’s arrest in Islamabad on Tuesday as null and void.

Following the court’s ruling, Imran will be transferred to a guesthouse at the police headquarters in Islamabad. Additionally, he has been instructed to appear before the Islamabad High Court (IHC) on Friday, where his arrest had initially been declared legal.

This decision comes swiftly after Imran’s arrest by the Pakistan Rangers, a paramilitary federal law enforcement corps. He was apprehended while presenting himself at the IHC for an unrelated case, specifically the Al Qadir University case, an institution he founded during his tenure as prime minister in 2019, and where he currently serves as chairman. The manner in which Imran was detained, with scores of paramilitary police leading him away, attracted widespread criticism both in Pakistan and abroad. Imran further alleged in the Supreme Court that the arrest had involved violence and physical abuse, claiming he had been beaten with sticks.

Previously held by the National Accountability Bureau (NAB), Imran had been ordered by the IHC to remain in physical remand for eight days. However, he swiftly appealed this decision, resulting in his release on Thursday. It is important to note that this release does not equate to an acquittal in the ongoing case. Instead, the Supreme Court found fault with the arrest procedure itself.

Following Imran’s release, his supporters congregated outside the court, expressing their joy and chanting slogans. The arrest had triggered violent protests across Pakistan, particularly in Lahore, where the Corps Commander’s House was vandalized and set ablaze. Clashes between the Pakistan military and supporters of Imran’s political party, the PTI, persisted throughout the past two days.

As a consequence, mobile internet services remain suspended across the country, and access to social media platforms has been restricted. According to conservative estimates, the death toll resulting from these protests has reached 12.

The current federal government, which assumed power in April 2022 through a vote of no confidence, has repeatedly advocated for Imran’s arrest. Multiple courts over the past year have also called for his detention. In March, two separate attempts were made to arrest him from his residence, but large numbers of supporters gathered outside his home, impeding the police’s efforts. Several polls have consistently shown Imran as the most popular politician in the country.

He has accused the government of infringing upon the democratic rights of Pakistani citizens by refusing to hold elections, stating, “They want to either arrest or disqualify me because they are scared [of the fact] that my party is one of the most popular in Pakistan’s history,” as he explained to Al Jazeera in March during the attempted arrest in Lahore. Imran himself survived an assassination attempt in November, sustaining bullet wounds to his leg while leading a protest march in Wazirabad, Punjab.

Google Empowers Women and Graduates with New GCC Scholarships in Pakistan

Google Empowers Women and Graduates with New GCC Scholarships in Pakistan

Google, known for its commitment to fostering an inclusive digital economy, has announced an ambitious plan to launch 44,500 new GCC (Google Career Certificates) Scholarships in Pakistan by the end of 2023. These scholarships aim to provide Pakistanis with highly sought-after digital skills that are in high demand across industries.

The GCC program, introduced last year, has already been instrumental in helping women and fresh graduates excel in their careers by equipping them with new skills and recognized certificates. Recognizing the need to expand its offerings, Google has introduced three new courses in the GCC program: Business Intelligence, Advanced Data Analytics, and Cybersecurity. These courses address the rapidly evolving demands of the tech industry and empower professionals to secure lucrative job opportunities or advance in their current roles.

By enrolling in these GCC courses and leveraging their acquired skills, women and fresh graduates have the potential to contribute significantly to the country’s revenue by working in both local and international markets. To ensure the successful implementation of the program, Google has partnered with the Institute of Rural Management (IRM) and Tech Valley Pakistan.

Farhan Qureshi, Google’s Country Director for Pakistan, emphasized the company’s dedication to equipping Pakistani talent with the necessary digital skills to succeed in the ever-evolving job market. He highlighted Pakistan’s position as the world’s third-largest freelance economy, where digital skills are in high demand. Qureshi stated, “For jobs with high demand, rapid growth, and good pay, we want to assist people in obtaining the necessary qualifications online,” demonstrating Google’s commitment to empowering individuals to seize emerging opportunities.

The announcement of the expanded GCC program and the commitment to provide 45,500 Google Career Certificates to women and recent graduates by the end of 2023 has garnered support from Pakistan’s Federal Minister for Information and Technology. The minister commended Google’s efforts to bridge the digital skills gap and expressed full support for the Google Career Certificate program 2.0.

With Google’s commitment to empowering individuals and fostering an inclusive digital economy, Pakistan’s workforce is poised to thrive in the digital age. The GCC scholarships offer a pathway to success for women and graduates seeking to enhance their careers and make a significant impact in the dynamic world of technology.

UN Urges to End Violence That Erupted After Imran Khan’s Arrest

Image: The News International

The UN Secretary General has asked to end violence that erupted in different parts of Pakistan post former Prime Minister Imran Khan’s arrest.

A statement was issued by the spokesperson on behalf of the UN Chief Antonio Guterres. The statement read that Guterres took notice of the current ongoing situation in the country and emphasized that “all parties to refrain from violence.” He “calls for all parties to refrain from violence. He stresses the need to respect the right to peaceful assembly.” He also asked the authorities “to respect due process and the rule of law in proceedings brought against former Prime Minister Khan.”

Former Prime Minister Imran khan served the office for four years starting from 2018. He was arrested on Tuesday from the premises of Islamabad High Court. So far, hundreds of people have been arrested and eight have lost their lives due to the ongoing protests.

Pakistani Rupee Sets New Record; Drops to All-time Low Against Dollar

Image: The Current

The Pakistani Rupee continued to depreciate further and was seen trading at Rs 293 against the US Dollar on Thursday. This indicates a drop of Rs 1.78 during the intraday trading.

In the last four days, the Dollar has appreciated Rs. 9.41 against PKR.

Memers Take Over the Internet With VPN Jokes After Blackout

After the Ex-Prime Minister of Pakistan, Imran Khan, was arrested outside the Islamabad High Court, his supporters took to streets to record their protests. For a short period of time, internet services were also halted in different parts of the country. While Pakistan was going through a difficult time, our social media comedians (read Memers) took to the internet and cracked the best VPN memes. Here is a round up of the ones that made us laugh the most.

https://twitter.com/yesindeeder/status/1656341845578743840?t=fypnFdO0x3EjZ8inCX3Qpg&s=19

Pakistani Rupee Hits Record Low Against US Dollar Amid Imran Khan’s Arrest

Pakistani Rupee Hits Record Low Against US Dollar Amid Imran Khan's Arrest
A foreign currency dealer counts US dollars at a shop in Karachi on May 19, 2022. (Photo by Asif HASSAN / AFP) (Photo by ASIF HASSAN/AFP via Getty Images)

The Pakistani rupee faced a significant blow on Wednesday as it plummeted to a new all-time low against the US dollar in interbank trade, witnessing a decline of Rs5.16. The decline comes in the aftermath of clashes between supporters of former Prime Minister Imran Khan and the police, leading to the suspension of mobile broadband services by the interior ministry.

In the interbank market, the Pakistani rupee was traded at Rs290 per dollar, showing a substantial drop from the previous day’s closing rate of Rs284.84. Meanwhile, in the open market, it fell even further to Rs295, witnessing a decline of Rs5 from the previous closing rate of Rs290.

The arrest of Imran Khan, the former prime minister and Chairman of the Pakistan Tehreek-e-Insaf (PTI) party, in the Al-Qadir Trust case on Tuesday triggered these events. Rangers personnel, acting on a warrant issued by the National Accountability Bureau (NAB), apprehended Imran Khan at the premises of the Islamabad High Court, where he was seeking bail in multiple cases against him.

The Islamabad High Court (IHC) later deemed the arrest of Imran Khan as ‘legal’ during a hearing on a petition challenging the arrest. Chief Justice of the IHC, Justice Aamer Farooq, not only upheld the legality of the arrest but also issued contempt court notices to the Interior Secretary and IG Islamabad.

The political turmoil surrounding Imran Khan’s arrest and the subsequent clashes between his supporters and the police have contributed to the financial instability faced by Pakistan, as reflected in the devaluation of the Pakistani rupee against the US dollar. The situation remains tense, with concerns about the country’s economic stability and the impact of these developments on the overall socio-political landscape.

More than 1000 lovers of Imran Khan arrested

More than 1000 lovers of Imran Khan arrested

Former Prime Minister Imran Khan of Pakistan made a court appearance following his arrest on corruption charges, which led to widespread protests throughout the country. The authorities reported that approximately 1,000 individuals have been detained since Khan’s arrest in Islamabad, despite his denial of the charges.

Khan is being held under tight security at a police guesthouse that has been converted into a makeshift courtroom. His arrest has escalated a political feud between him and Pakistan’s influential military, and a conviction would result in his disqualification from running in future elections.

Violent demonstrations erupted in various cities across Pakistan in response to Khan’s arrest, resulting in at least two fatalities. The former cricket star, aged 70, was ousted from office in April, less than four years into his term. He had previously been shot in the leg during a campaign event in the city of Wazirabad and had accused a senior intelligence official of orchestrating the attack, a claim strongly refuted by the military. Prior to his arrest, the military had warned Khan against repeating such allegations.

Khan now faces numerous charges related to corruption and sedition, which he believes to be politically motivated. Until now, he had managed to evade arrest by repeatedly refusing to attend court hearings. His supporters argue that the charges were levied by the current government to prevent him from participating in the upcoming general elections scheduled for October, as Khan had been actively campaigning for an earlier election date.

Police have conducted raids and apprehended members of Khan’s political party since his detention. Asad Umar, the secretary-general of Khan’s Pakistan Tehreek-e-Insaf (PTI) party, was among those arrested. In Punjab province alone, nearly 1,000 individuals were detained following protests on Tuesday night.

Pictures from Wednesday morning depicted lines of officers guarding the police guesthouse in Islamabad. PTI stated that Khan had not been granted access to legal counsel and announced their intention to challenge the legality of his arrest in court. They further claimed that the arrest, carried out by the Punjab Rangers within the court premises, was unlawful. However, Islamabad’s High Court declared the arrest to be legal on Tuesday.

Karachi, Pakistan’s largest city, witnessed extensive damage to vehicles as a result of overnight protests, while mobile internet services remained inaccessible nationwide due to orders from the interior ministry. Schools remained closed, highways were blocked, and traffic in major cities was sparse.

Protests are expected to continue, with demonstrators planning to march to Islamabad, and the PTI calling for a nationwide strike. The party posted on Twitter, stating that the crowds would be even larger than the previous night to protect Imran Khan.

During the protests on Tuesday, Khan’s supporters ransacked the residence of the corps commander in Lahore, claiming that items, including peacocks, had been purchased with public funds.

Auto Financing Plunges for the Ninth Time in a Year

Image: PakWheeks.com

The auto financing dropped to Rs 317 billion in March as compared to Rs. 363.55 billion in the same month last year. This indicates a plunge of 12.83% for the ninth time in a year.

In February, a drop of 2.4% was recorded bringing the figures to Rs. 325 billion, as quoted by the State Bank of Pakistan.

Increase in interest rates, automobile prices and plant shutdowns have resulted in vehicle delivery delays. On top of it, the soaring petroleum prices and other measures taken by the State Bank of Pakistan have also contributed toward the reduced pace of auto financing in Pakistan.

Head of Research at Ismail Iqbal Securities, Fahad Rauf, said, “I think the share of auto financing in total car sales is now almost zero as compared to 30-40pc previously.”

Pakistanis stand united with Imran Khan

Pakistanis stand united with Imran Khan

In a dramatic series of events, the arrest of Imran Khan, the Chairman of Pakistan Tehreek-e-Insaf (PTI) party, from the Islamabad High Court (IHC) premises in the Al-Qadir Trust case has sparked a wave of unwavering support among his devoted followers. The arrest, which occurred after two intense hearings, has led to widespread protests and a resolute commitment from Imran Khan’s ardent fans, who are even prepared to make the ultimate sacrifice for their beloved leader.

Imran Khan’s arrest came in connection with allegations of his involvement in obtaining billions of rupees from a real estate firm, alongside his wife, with the intention of legitimizing a laundered amount of Rs50 billion. Notably, during the previous PTI government, the UK identified and repatriated these funds to Pakistan, emphasizing the seriousness of the matter.

The arrest, executed by the National Accountability Bureau (NAB), has drawn criticism from various quarters. Imran Khan’s lawyer revealed disturbing details, alleging mistreatment during the arrest, including physical assault resulting in injuries to his head and leg.

This incident on the court premises has not gone unnoticed by the Chief Justice of the IHC, Aamer Farooq, who expressed deep concern over the violation of judicial independence and fundamental rights. Chief Justice Farooq promptly summoned the Director General of NAB Rawalpindi and the bureau’s Prosecutor General, demanding answers and accountability.

In response to Imran Khan’s arrest, a groundswell of support has erupted across Pakistan, with fervent PTI supporters taking to the streets in numerous cities. Lahore, Karachi, Peshawar, Bannu, and Charsadda witnessed massive demonstrations as PTI followers shut down various areas, passionately expressing their solidarity with their leader. The protesters boldly voiced their opposition to the government and made it clear that they are prepared to go to great lengths to secure Imran Khan’s release.

The PTI leadership, unequivocally denouncing the arrest, has declared its unwavering commitment to fighting a legal and political battle for Imran Khan’s freedom. The loyalists remain resolute in their belief that their leader is innocent and are ready to sacrifice their lives to defend his honor.

As the protests continue to reverberate throughout the nation, the fate of Imran Khan hangs in the balance. Only time will reveal the outcome of this high-stakes battle between the government and the unwavering devotion of Imran Khan’s ardent supporters, who are prepared to make any sacrifice necessary to see their beloved leader walk free once again.

https://twitter.com/AfZaal9111/status/1655893732246409217?s=20
https://twitter.com/daniyalbm/status/1655900802794283010?s=20
https://twitter.com/mianumarjamil/status/1655918153149345796?s=20
https://twitter.com/mishilicious/status/1655912321527455744?s=20

Fakhar Zaman gets ICC Player of the Month Award

Fakhar Zaman gets ICC Player of the Month Award

Fakhar Zaman, the talented opening batsman from Pakistan, has been recognized as the ICC Men’s Player of the Month for his outstanding performances. Zaman’s achievement marks the first time a Pakistani player has received this prestigious award since Sidra Ameen in November 2022. The left-hander played a pivotal role in Pakistan’s triumph over New Zealand in the ODI series, contributing two crucial match-winning centuries.

Expressing his gratitude, Zaman said, “Being named ICC Player of the Month for April is a tremendous honor for me. This month has undoubtedly been one of the highlights of my career, and it was an incredible feeling to showcase my skills in front of my fellow countrymen in Lahore, Rawalpindi, and Karachi.” Zaman went on to mention his delight in scoring consecutive centuries in Rawalpindi but highlighted his favorite knock, an unbeaten 180 runs in the second match.

Looking ahead, Zaman expressed his aspirations, saying, “I aim to carry this momentum forward as we approach the ICC Men’s Cricket World Cup. My goal is to bring joy and pride to the passionate fans of Pakistan through my performances on the field.”

Zaman’s exceptional achievements extended beyond the Player of the Month award. He joined an exclusive group of only twelve batters, and the fourth Pakistani, including Saeed Anwar, Zaheer Abbas, and Babar Azam (who achieved it twice), to record three consecutive centuries in ODIs. Additionally, Zaman became the fastest Asian batter to reach 3,000 runs in ODI history, accomplishing the feat in just 67 innings, surpassing the previous record held by Babar Azam, who achieved it in 68 innings.

Among the other nominees in the men’s category were Prabath Jayasuriya from Sri Lanka and Mark Chapman from New Zealand, who displayed impressive performances of their own.

In the ICC Women’s Player of the Month category, Naruemol Chaiwai, the captain of Thailand’s team, emerged victorious. Chaiwai claimed the award for her outstanding contributions during a historic 3-0 series victory against Zimbabwe, wherein she scored two unbeaten half-centuries.

Expressing her joy, Chaiwai humbly remarked, “I am deeply humbled and proud of myself for delivering performances deserving of this accolade. The recent series was crucial for both the team and me as we sought to establish ourselves in the ODI arena. Most importantly, I am immensely grateful for the support and recognition I have received.”

Chaiwai expressed her gratitude to her family, friends, and followers worldwide for their unwavering support. She concluded by stating that this recognition serves as a motivation for both herself and the entire Thai cricket team to continue progressing in the world of cricket.

Is Decaffeinated Tea Really Healthier? Debunking the Myths

Tea is renowned for its numerous health benefits, from its antioxidant properties to its potential to improve heart health and boost the immune system. However, for those looking to reduce their caffeine intake, decaffeinated tea seems like an appealing option. But is it truly a healthier choice? In this article, we delve into the world of decaffeinated tea to debunk common myths and shed light on its health implications.

The Decaffeination Process:

Decaffeinated tea undergoes a process to remove a significant portion of its caffeine content. The most commonly used methods include the use of carbon dioxide, ethyl acetate, or water. These methods extract the caffeine from the tea leaves while attempting to preserve its natural flavors and beneficial compounds. It’s important to note that even after the process, small traces of caffeine may still remain in decaffeinated tea, but in significantly reduced amounts compared to regular tea.

Preservation of Antioxidants:

One concern surrounding decaffeinated tea is whether the decaffeination process affects its antioxidant content. Studies suggest that while there may be a slight reduction in antioxidants during the process, the difference is minimal and does not significantly impact the overall health benefits of the tea. The antioxidants present in tea, such as catechins, flavonoids, and polyphenols, are still present in decaffeinated versions, providing potential protective effects against chronic diseases and oxidative stress.

Health Benefits of Decaffeinated Tea:

Decaffeinated tea retains many of the health benefits associated with regular tea. It can still contribute to improved heart health, aid in weight management, support digestion, and provide a soothing effect. Moreover, decaffeinated tea can be a suitable choice for individuals who are more sensitive to caffeine, such as pregnant women, those with certain health conditions, or individuals seeking to limit their caffeine intake.

Flavor and Varieties:

Decaffeinated tea is available in a wide range of flavors and varieties, allowing individuals to enjoy their favorite brew without the stimulating effects of caffeine. From black tea to green tea, herbal infusions, and fruit blends, there are plenty of decaffeinated options to suit different tastes and preferences.

While decaffeinated tea may not offer the same stimulatory effects as its caffeinated counterpart, it remains a viable and potentially healthier alternative for those looking to reduce their caffeine intake. The decaffeination process does not significantly diminish the tea’s antioxidant content or its potential health benefits. So, if you’re looking for a comforting and flavorful beverage without the jolt of caffeine, decaffeinated tea can be a satisfying choice to savor throughout the day.

Remember, always consult with your healthcare professional to determine what’s best for your individual health needs and circumstances.

Also, see:

Twitter to Remove Accounts That Are Inactive for Several Years

Twitter to Remove Accounts That Are Inactive for Several Years

The Economic Times

The social media platform, Twitter Inc has announced that it will remove all accounts that have been inactive for several years.

Elon Musk, CEO Twitter, tweeted on Monday,

Musk also added that users may see a drop in follower count due to removal of inactive accounts.

According to the company policy, users must log in once a month to escape prolonged inactivity and permanent removal from the platform.

Last month Twitter removed Blue Tick from the profiles of various celebrities, politicians and journalists as they did not subscribe for Twitter Blue.

LinkedIn Cuts 700 Jobs Amid Global Economic Crisis

Image: CNA

LinkedIn, the Microsoft Corp owned social media network aimed at helping professionals, said on Monday that it is firing its 716 employees as demand wavers.

The social media app also announced to shut down its job app focused on China.

LinkedIn with over 20,000 employees onboard showed revenue throughout the last year. However, like other IT companies in the industry, it is now laying off employees due to the current global economic Crisis.

In the last 6 months, over 270,000 IT jobs have been cut globally, as quoted by Layoffs.fyi.

LinkedIn’s revenue is linked with ads and subscriptions to sales and recruiting professionals.

LinkedIn CEO Ryan Roslansky said, “With the market and customer demand fluctuating more, and to serve emerging and growth markets more effectively, we are expanding the use of vendors.”

About the Chinese app, LinkedIn said that InCareers will be phased out by Aug. 9. The company also added, “Despite our initial progress, InCareer faced fierce competition and a challenging macroeconomic climate, which ultimately led us to the decision of discontinuing the service.“

Latest WhatsApp Scam: Callers Using International Numbers to Access People’s Information

Image: CNBC

The popular messaging app is being used by spammers and scammers to deceive people lately. The latest menace involves calling users form international numbers and leaving them puzzled.

Most of these calls are originating from Kenya, Malaysia, and Vietnam, according to their ISD codes.

These scammers are exploiting WhatsApp’s Voice Over Internet Protocol (VoIP) to avoid international call charges.

The reason why these calls are being made is currently unknown. However, many attempts have been made to access user’s personal deta and money. It is important to be careful while attending such calls and not share any personal details with these callers.

Two People Die from Congo Virus in Karachi and Quetta; Health Authorities Alerted

Daily Times

Two people have died from Congo virus on Sunday. The victims belonged to Karachi and Quetta. The victim from Quetta was a 20-year-old Afghan woman who was also pregnant, according to the doctors. Upon showing the symptoms of the virus, 20-year-old Gul NAZ was admitted to the Quetta’s Fatima Jinnah Chest Hospital. She had bleeding form nose and mouth and her lab tests confirmed the report. Dr. Zubair form the hospital confirmed the news of her death on Sunday. Dr. Zubair also said

“In the past four months, four people have died of Congo virus.”

A 28 year old man also died from Congo virus in Karachi, Sindh health department confirmed on Sunday.

The victim was a resident of Liaquatabad and used to send meat.

“Initially, he developed a headache and fever on April 30, which intensified two days later. He was taken to a private hospital where he remained under treatment for a day.”

He further said, “On May 4, the patient’s condition deteriorated and he was admitted to Ziauddin Hospital in North Nazimabad. He passed away a day later.”

Petrol can be Rs 100 per liter in Pakistan, here is how

Pakistan Expects Significant Petrol Price Reduction with Arrival of Russian Oil

Khawaja Asif Mehmood, the Information Secretary of Pakistan Petroleum, has revealed that the arrival of Russian oil is likely to result in a potential decrease of Rs. 100 per liter in petrol prices across the country.

Speaking to the media, Mehmood expressed that given the decline in international oil prices, petrol should have been more affordable in Pakistan as well. However, under the agreement with Russia, Pakistan will procure oil at a discounted rate compared to the prevailing market price.

Mehmood further informed that the Russian oil shipment is scheduled to reach Pakistan during the third week of May, with the initial batch serving as a trial. Currently, Pakistan possesses two refineries capable of processing the incoming oil, while additional work is required on other refineries to facilitate the process.

In related news, the first shipment of crude oil is expected to arrive in Pakistan by the end of May or the beginning of June. As part of this shipment, Pakistan will benefit from a discount of up to $18 per barrel.

This development brings hope to the Pakistani public who have been grappling with the burden of inflation, providing a promising outlook for the future.

Wheat Import from Russia Could Lower Flour Prices in Pakistan

The Chairman of the Pakistan Flour Millers Association (South Zone), Chaudhry Amir Abdullah, stated that if wheat is imported from Russia, the prices of flour will decrease to Rs. 110 per kg in Karachi and throughout the country. This is significantly lower compared to the current prices of Rs. 150 and above per kg.

During a briefing with journalists affiliated with the Council of Economic and Energy Journalists (CEEJ), Chaudhry Amir Abdullah emphasized that the cost of Russian wheat imports amounts to approximately Rs. 9,500 per ton, which is considerably lower than the local wheat prices in Karachi ranging from Rs. 12,500 to 14,500 per ton.

He further highlighted that the quality of Russian wheat is superior to what is typically imported from Ukraine. This higher quality wheat opens up opportunities for exporting flour to countries like Canada, Europe, and the Middle East.

The shortage of wheat supplies in the southern region, particularly in Karachi, has led to escalating wheat prices. Chaudhry Amir Abdullah warned that the prices in Karachi may reach up to Rs. 200 per kg if the situation persists. He attributed the flour crisis to provincial policies implemented by the Sindh government, which hindered millers from purchasing grain from growers in upper Sindh.

According to Amir Abdullah, 30 out of 93 flour mills in Karachi have halted their flour production due to the unavailability of wheat. He criticized the government for failing to fulfill its commitment of providing 5 million bags of wheat and only supplying 525,000 bags (10.5%) by mid-March. He specifically mentioned that the wheat shortage is only observed in Karachi.

The chairman accused the government of establishing checkpoints between upper Sindh and Karachi, where officials allegedly accept bribes to allow wheat-carrying trucks to pass. He also claimed that over 200,000 sacks of wheat, which had deteriorated and were declared unfit for human consumption, were forcibly handed over to mill owners from the government’s warehouses located in Malir.

As a result of these grievances, the Pakistan Flour Millers Association announced a strike, refusing to supply flour to retailers until their demands are met. Their demands include the resumption of wheat supplies and measures to prevent officials from accepting bribes from millers.