Author: Maryam Asrar

Pakistan has recently joined China’s ambitious lunar research station initiative, which seeks to establish a station on the moon’s south pole. The initial agreement was signed in Beijing, with Pakistan’s caretaker Prime Minister Anwaarul Haq Kakar and Chinese Premier Li Qiang as witnesses. This collaboration, as announced by the China National Space Administration, will encompass various aspects of the Chinese lunar base program, including engineering and operational components. China, with its goal to become a significant player in space exploration by 2030, has already gained support from countries such as Russia, Venezuela, and South Africa. Their aim is to land…

Pakistani Tekken legend Arslan ‘Ash’ Siddique continued to impress, clinching the Uprising Korea 2023 championship with a commanding 3-0 victory over South Korea’s Galgonge in the finals. Arslan secured his spot in the Winners’ final by defeating Atif Khan 2-1 in the Winners’ semi-final. While he narrowly lost to Galgonge in the Winners’ Final with a score of 3-2, Arslan made a strong comeback to win the Losers Final against Varrel Pinya 3-1, earning a place in the Grand Final, where he faced Galgonge once more. In the Grand Final, Arslan triumphed over Galgonge with a 3-1 score, claiming the…

The State Bank of Pakistan (SBP) reported a weekly increase of $67 million in foreign exchange reserves, reaching $7.7 billion by October 13, as per data released on Thursday. The country’s total liquid foreign reserves stood at $12.9 billion, with net foreign reserves of $5.2 billion held by commercial banks. The specific reason for this rise in reserves was not provided by the central bank. The SBP simply stated, “During the week ended on October 13, 2023, SBP’s reserves increased by $67 million to $7,714.0 million.” In July, Pakistan received an initial tranche of around $1.2 billion from the International…

Meezan Bank has unveiled its financial results for the third quarter ending in September 2023, demonstrating remarkable performance. The bank achieved its highest-ever quarterly earnings of Rs25 billion, translating to an impressive EPS of Rs14.2 during the July-September period. This surge in earnings is attributed to record total income, with a substantial growth in earnings highlighted by brokerage house Arif Habib Limited. Year-on-year, the bank’s earnings more than doubled, and there was a significant 48% increase quarter-on-quarter during the same period. This exceptional performance led to cumulative nine-month earnings of Rs58 billion, with an EPS of Rs32.4, signifying a remarkable…

Cambridge University in the UK is offering a scholarship opportunity for students from Pakistan. The scholarship aims to support outstanding and deserving students from Pakistan in pursuing higher education at one of the world’s most prestigious academic institutions. It covers tuition fees and living expenses, making a Cambridge education more accessible and reflects the university’s commitment to fostering international talent and creating a diverse, global learning environment. Pakistani students now have the chance to access world-class education at Cambridge University, enriching their academic and personal experiences while contributing to their nation’s growth and development. About the Scholarship:This scholarship provides access…

The Pakistan State Oil Company Limited (PSO) reported a remarkable 1,727 percent increase in quarterly profit after tax, totaling Rs. 21.89 billion for the first quarter ending on September 30, 2023. During a meeting on October 20, 2023, the company’s Board of Management (BoM) reviewed this performance, noting that it achieved its highest-ever Q1 net profit after tax of Rs. 23.99 billion, translating to earnings per share of Rs. 51.10. PSO, however, did not declare any dividends for this period. PSO’s unconsolidated net sales reached Rs. 976 billion, compared to Rs. 929 billion in the same period last year. This…

In response to petitions addressing the urgent need to combat smog and alleviate the severe pollution in Lahore, the Lahore High Court has issued its verdict. Unfortunately, Lahore has gained notoriety as one of the most polluted cities in the world, primarily due to smog. Justice Shahid Karim has put forward a strategy to reduce vehicular emissions, which includes the prohibition of vehicles emitting smoke. In an unconventional suggestion, he has also recommended that government employees consider using bicycles for their daily commutes. Furthermore, the court has advised the government to allocate the necessary funds to support organizations dedicated to…

In the first quarter of fiscal year 2023-24, Pakistan’s food exports exhibited remarkable growth, surging by 18.88 percent to reach $1.28 billion, as reported by the Pakistan Bureau of Statistics (PBS). This boost can be attributed to multiple factors, including the depreciation of the rupee, supply chain disruptions, and higher global food prices, which have spurred increased demand for Pakistani food products. Key highlights from the data include: These statistics reflect Pakistan’s increasing presence in international food markets, driven by currency dynamics, export restrictions in competitor countries, and expansion into new markets.

Significant progress has been made in securing a cost-effective oil supply from Russia, as Pakistan has recently entered a long-term oil procurement agreement with Moscow. Under this arrangement, local refineries will directly source oil from Russia, with deliveries to occur at a Pakistani port. The agreed-upon price for this oil is set at $60 per barrel, and the first shipment, consisting of 100,000 metric tonnes of crude oil, is scheduled for arrival in Pakistan this coming December. Moreover, government-level negotiations are anticipated to follow as regular supplies commence. Notably, this commercial agreement takes into account the G7 price ceiling for…

The city of Mardan in Khyber Pakhtunkhwa, Pakistan, achieved a significant milestone this Wednesday when it was declared a loadshedding-free city as part of the “Zero-Theft, Zero-Loadshedding” initiative introduced by the Power Division. Mardan, which previously suffered from power outages lasting over six hours a day, became the first city in Pakistan to completely eliminate power theft. Rashid Langrial, the Secretary of the Power Division, unveiled “The Mardan Model” in Islamabad, marking the end of loadshedding in the city. This achievement is credited to the successful elimination of power theft and significant improvements in revenue collection. Langrial emphasized that a…