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Prime Minister Shehbaz Sharif assured the Islamabad High Court (IHC) on Friday of making all-out efforts for the recovery of missing persons, saying that he will not give any “lame excuse”. “I cannot say that all of the missing persons will be recovered, but we will leave no stone unturned,” he said. “I will not give any lame excuse.” The premier made these remarks before IHC Chief Justice (CJ) Athar Minallah during the hearing of identical petitions seeking the recovery of six missing persons, including journalist Mudassar Mahmood Naro. Read: Imran seeks report on ‘missing’ journalist’s whereabouts At the last hearing, Justice Minallah had directed PM Shehbaz to ensure that the missing persons — whose cases were being heard in the IHC — were produced before the court on September 9 (today) and warned that the failure to do so would require the premier to appear in person on the said date and give an explanation. When PM Shehbaz appeared before the court today, Justice Min

The rupee, which has been declining for nearly a week, fell by Rs3.05 against the dollar during early trade in the interbank market on Friday. By 10:56am, the PKR was being traded at Rs228.5 per dollar after depreciating 1.35 per cent from yesterday’s close, data shared by the Forex Association of Pakistan (FAP) showed. Mettis Global Director Saad bin Naseer said the exchange rate was under pressure because of payments and a demand-and-supply gap. He added that the system would remain under pressure due to quarter-end payments. “Some oil payments were made this week. Besides this, the gap in [rates] between the interbank and open markets had widened significantly due to which bankers gradually increased the dollar rates.” However, there was no panic in the interbank market today and the greenback was available, he said. Naseer suggested that the State Bank of Pakistan (SBP) introduce a new scheme such as the Roshan Digital Account (RDA) to attract dollar inflows. “The moment

The rupee lost Rs1.78 in early trading in the interbank market on Thursday, rates issued by the Forex Association of Pakistan (FAP) showed. At around 11:26am, the dollar was being traded at Rs225.20 compared to yesterday’s closing rate of Rs223.42. The previous session also saw the dollar gain against the rupee by Rs2. FAP Chairman Malik Bostan said the dollar had been strengthening globally , having gained against 40 currencies for weeks, and its impact was being seen in Pakistan’s currency market as well. Bostan said the rupee was Rs8 costlier in the open market and urged the government to take measures to narrow down this difference. “The government should use its diplomatic sources to end the UAE government’s regulation mandating travellers from Pakistan to carry 5,000 dirhams in cash,” he added. He went on to say that if the promised $4 billion from friendly countries arrives immediately in Pakistan, it would alleviate the pressure on the rupee and help stabilise its va

The dollar hit a 24-year high against the yen on Wednesday after US economic data reinforced the view that the Federal Reserve will continue aggressive policy tightening. The Chinese yuan sank to a two-year trough, closing in on the psychologically important 7 per dollar mark despite steps by authorities to stem its decline. The Philippine peso slid to a record low. The euro languished not far from Tuesday’s two-decade low, well below parity, as European Union ministers prepare to meet on Friday to discuss the energy crisis that is hammering industry and squeezing households. A report overnight showed the US services industry unexpectedly picked up last month, reinforcing the view that the economy is not in recession and giving the Fed leeway for another super-sized 75 basis-point rate rise on Sept 21. Markets currently give that scenario 75 per cent probability, with 25pc odds for a half-point hike. The dollar soared as high as 144.38 yen for the first time since August 1998

In a message commemorating Defence Day, Prime Minister Shehbaz Sharif on Tuesday said that anyone intending to “hurt the bond” between the country’s armed forces and the people was “not a friend of Pakistan” as he called for national unity to face the challenges posed by historic floods. PM Shehbaz’s message made a veiled reference to a speech Imran Khan delivered recently about the appointment of the future army chief, which triggered fierce criticism from the coalition government as well as a tersely worded statement from the Inter-Services Public Relations (ISPR). His defence day message called for national unity as a panacea for dealing with unprecedented flooding, which has inundated large swathes of the country, displaced millions and killed more than a thousand. “The whole nation comes together today in paying homage to our martyrs and Ghazis who put their lives on the line to defend the motherland against the Indian aggression. Together, our armed forces and people

The euro fell below 99 cents for the first time in nearly two decades, while sterling was on the ropes on Monday as Russia’s halt on gas supply down its main pipeline to Europe sparked concerns over energy prices and growth. The euro slid to $0.988 in Asia trade, the lowest level since 2002, while sterling hit a new 2.5 year low at $1.144, and remained close to its pandemic trough. Meanwhile, the US dollar index, which measures the greenback against a basket of six currencies with the euro the most heavily weighted, hit a new two-decade high, surging to a top of 110.25. Russia scrapped a Saturday deadline for flows down the Nord Stream pipeline to resume, citing an oil leak in a turbine. It coincided with the Group of Seven finance ministers announcing a price cap on Russian oil. The pound has also been weighed down by concerns over rising energy costs. British foreign minister Liz Truss said over the weekend she would set out immediate action to tackle rising energy bills a

The devastating floods in Pakistan, which have killed more than 1,000 and displaced millions, have once again highlighted the magnanimity of the nation. Some have opted to donate much-needed essentials while others have donated their time and energy to help those in need. However, former senator Sehar Kamran — of the “wow grape” fame — has decided to use her viral moment for good: the meme will be auctioned as a Non-Fungible Token (NFT) on September 30 to raise funds for the rehabilitation of flood victims. The NFT will be sold on the digital art marketplace, Foundation, the link for which can be accessed here . Speaking to The Pak Daily’s Hamza Azhar Aslam about the viral meme, Kamran said: “I don’t know how great turned into grape but I have owned it and thought that it should be used for good”. In the viral video in question, Kamran, at a school for Pakistani expatriate children in Jeddah, was standing with a queue of students asking them what they’d like to do when they

DUBAI: Pakistan’s wicket-keeper Moha­mmad Rizwan says his side are striving to stay “brave and calm” for their second clash with India as the arch-rivals prepare for their next T20 Asia Cup showdown here at the Dubai International Cricket Stadium on Sunday. Babar Azam’s team crushed Hong Kong by 155 runs on Friday to seal their spot in the final four of the tournament, an entree to the T20 World Cup in October-November. Afghanistan were playing Sri Lanka in the first Super Four stage match on Saturday in Sharjah, but it’s the much-awaited India-Pakistan battle that is expected to pack the Dubai stadium a day later. “Playing India is always a pressure game. The whole world, even beyond Asia, wait for it,” Rizwan, who hit an unbeaten 78 against Hong Kong, told reporters on Friday. “The pressure will be equally on India and us, but the result will be with whoever remains brave and keeps calm,” added the wicket-keeper-batsman. Pakistan posted 193-2 and skittled out Hong Kong fo

KOHAT: Terrorists belonging to a banned organisation attacked the Azeem Bagh residence of Pakistan Peoples Party Senator Shamim Afridi with a grenade here on Thursday night and also opened fire over the lawmaker’s alleged refusal to pay them extortion, the police said, adding nobody was hurt in the attack. Recently, they said the same group had opened fire on the flour mills of the senator, demanding extortion money. Bilitang police station SHO Abdul Rauf told Dawn on Friday that the grenade hit the rooftop of the house of Shamim Afridi’s son Ibraheem Afridi, who lives in a joint family house with his brothers, MPA and PPP Khyber Pakhtunkhwa information secretary Amjid Afridi and former federal minister Abbas Afridi. Zor Afridi, a son of Ibraheem Afridi, told the Counter-Terrorism Department police that they had been receiving threats of killing and extortion from a terrorist organisation. He said wall of the roof and the main door were damaged in the attack. Heavy firing wa

It is now possible for the PTA to block applications and websites without instructing ISPs to do so. On Sunday, August 21, several internet users reported that they were unable to access video sharing site YouTube in Pakistan. This coincided with the timing of former Prime Minister Imran Khan’s speech regarding politically motivated cases registered against him as well as his party leadership, and the subsequent ban on live coverage of his speeches by the Pakistan Electronic Media Regulatory Authority (Pemra). The former premier and his supporters allege that YouTube was temporarily blocked in Pakistan to obstruct live-streaming on YouTube of Imran Khan’s speech. What the evidence says Apart from hundreds of social media users complaining about being unable to access YouTube, independent internet watchdog Netblocks ran network analysis tests in Pakistan through users which showed that YouTube was working for only 38 per cent of users who ran the test. This means that YouTub

The dollar was headed for its third weekly gain in a row and stood near its highest levels in decades against the euro and yen on Friday, with investors in little mood for selling ahead of US labour data that could bolster the case for aggressive interest rate hikes. A solid US manufacturing survey overnight was enough to push the greenback above 140 yen for the first time since 1998, and it also hit multi-year highs against sterling and the kiwi. Against the stronger dollar, the euro fell back below parity to $0.9967 and was not far from last week’s 20-year low of $0.99005. The yen hit a fresh trough of 140.4 in the Asia trade. The dollar index made a two-decade top at 109.99 overnight and was last at 109.51. It is up more than one per cent in the week since Federal Reserve Chair Jerome Powell said at Jackson Hole, Wyoming that rates would need to be high “for some time” to control inflation, surprising markets. Sterling fell 0.7pc overnight and is down about 1.5pc this week.

An Islamabad anti-terrorism court (ATC) extended PTI chief and former prime minister Imran Khan’s interim bail till September 12 in connection with the terrorism case registered him. Imran was booked in a terrorism case for his controversial remarks about a female judge at a party rally in the capital on Aug 20. Last week, the Islamabad ATC had granted Imran interim pre-arrest bail till Sept 1 (today) in the case. ATC Judge Raja Jawad Abbas Hassan took up the case on Thursday amid elaborate security arrangements. The hearing commenced shortly after 10am but was adjourned for a brief period after the court summoned the PTI leader at 12pm. More charges against Imran Imran’s lawyer, Babar Awan, appeared before the judge around 9am and was prepared to give his arguments. However, the judge remarked that Imran would have to appear before the court. “We will hear arguments on the bail [plea] today,” he said, to which the prosecutor called for ensuring Imran’s presence. The hearin

Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out of its worst economic crisis in decades. The agreement, which Reuters first reported on Wednesday, is subject to approval by IMF management and its executive board, and is contingent on Sri Lankan authorities following through with previously agreed measures. “The staff-level agreement is only the beginning of a long road for Sri Lanka,” senior IMF official Peter Breuer told reporters in the commercial capital Colombo. “Authorities have already begun the reform process and it must continue with determination.” The IMF requires receiving financing assurances from Sri Lanka’s official creditors, besides ensuring efforts are made to reach a collaborative agreement with private creditors. “Debt relief from Sri Lanka’s creditors and additional financing from multilateral partners will be requ

PTI chief and former prime minister Imran Khan is expected to appear before an Islamabad anti-terrorism court (ATC) this afternoon in connection with the terrorism case registered him. Imran was booked in a terrorism case for his controversial remarks about a female judge at a party rally in the capital on Aug 20. Last week, the Islamabad ATC had granted Imran interim pre-arrest bail till Sept 1 (today) in the case. ATC Judge Raja Jawad Abbas Hassan took up the case on Thursday amid elaborate security arrangements. Imran's lawyer, Babar Awan, appeared before the judge and was prepared to give his arguments. However, the judge remarked that Imran would have to appear before the court. "We will hear arguments on the bail [plea] today," he said, to which the prosecutor called for ensuring Imran's presence. The hearing was then adjourned till 12pm as the PTI chief was summoned. During the hearing, the court was told that four new sections had been added to the

The PKR continued to recover on Thursday, appreciating by Rs1.5 against the dollar during early trade in the interbank market, with analysts attributing the gains to the State Bank of Pakistan (SBP) receiving a much-needed $1.16 billion deposit from the International Monetary Fund (IMF). The local currency was being traded at Rs217.25 per dollar after appreciating 0.68 per cent by 9:49am, according to data shared by the Forex Association of Pakistan (FAP). FAP Chairman Malik Bostan said the market sentiment would become more favourable after the IMF’s deposit and the rupee would gain sharply against the dollar. He said the difference in rates between the interbank and open markets had not only ended but the dollar was being sold at lower rates in the latter. “Those who were holding on to dollars are constantly selling them in the open market now following the rupee’s gains, due to which the rates in it are lower,” he elaborated. The market expected dollar inflows to increase

Pakistan needs more than $10 billion to repair and rebuild infrastructure damaged by monsoon rains that have caused devastating flooding , Planning Minister Ahsan Iqbal said on Tuesday. “Massive damage has been caused to infrastructure — especially in the areas of telecommunications, roads, agriculture and livelihoods,” he told AFP . Iqbal’s statements are a reiteration of an assessment he shared with Reuters a day earlier, where he said he believed that the cost of the damage caused by floods would be “huge”. “So far, [a] very early, preliminary estimate is that it is big, it is higher than $10 billion,” Iqbal said, adding that there was damage to almost nearly one million houses“. “People have actually lost their complete livelihoods,” he continued, rating the recent floods worst than those that hit Pakistan in 2010. The minister said it might take five years to rebuild and rehabilitate the nation, while in the near term it will be confronted with acute food shortages. Re

A District and Sessions court of Islamabad dismissed the post-arrest bail petition of PTI leader Shahbaz Gill on Tuesday, a day after it reserved its ruling in the sedition case. Additional District and Sessions Judge Zafar Iqbal pronounced the reserved verdict. Imran Khan’s chief of staff was arrested on August 9 after he made controversial remarks allegedly about the army during an ARY News bulletin and has been detained since, amid claims of him being subjected to torture and sexual abuse during custody. On August 25, he applied for post-arrest bail. Yesterday’s hearing In yesterday’s hearing, Gill’s counsel revealed that the PTI chief’s aide was willing to tender an apology for any misunderstandings. Police produced the relevant record before the court and at the request of Gill’s counsel, the court allowed him to peruse the record. The counsel argued that the city magistrate had accused Gill of sedition, an allegation that he had never thought of. He said the polic

A District and Sessions court of Islamabad is expected to announce its decision on the post-arrest bail petition of PTI leader Shahbaz Gill today, a day after it reserved ruling in the sedition case. Additional District and Ses­sions Judge (ADSJ) Zafar Iqbal will be pronouncing the verdict. Imran Khan’s chief of staff was arrested on August 9 after he made controversial remarks allegedly about the army during an ARY News bulletin and has been detained since, amid claims of him being subjected to torture and sexual abuse during custody. On August 25, he applied for post-arrest bail. Yesterday’s hearing In yesterday’s hearing, Gill’s counsel revealed that the PTI chief’s aide was willing to tender an apology for any misunderstandings. Police produced the relevant record before the court and at the request of Gill’s counsel, the court allowed him to peruse the record. The counsel argued that the city magistrate had accused Gill of sedition, an allegation that he had never t

Khyber Pakhtunkhwa’s Kohistan tehsil was reeling on Sunday as officials continued to call for help in rescuing people stranded in areas “completely cut off” due to the deadly floods that have laid waste to lives and infrastructure across the country. A day earlier, some 350,000 people were evacuated from Charsadda and Nowshera as powerful flash floods in the province caused the Kabul River to swell, sweeping away a large bridge overnight and cutting off some districts from road access. The chairman of Upper Kohistan’s Kandia tehsil, Anwar Ul Haq, told Dawn.com today that Kandia has been “completely cut-off” from the rest of Kohistan’s areas and there are no mobile phone signals. He added that locals made their way through perilous conditions on foot — with some travelling for two days — and informed him that an estimated 2,000 houses had been washed away in the floods. Haq said there is an acute need for food and medicine in Kandia as cases of diarrhoea have surged. Separat

SWAT/MANSEHRA/LOWER DIR: The flash floods swept away over 490 houses, 50 hotels, 40 schools, 54 bridges, link roads, 200 riverbank spurs and scores of vehicles in Hazara and Malakand divisions of Khyber Pakhtunkhwa since August 25, local officials said on Saturday. The Swat administration reported the destruction of 233 houses, 41 schools, 50 hotels, and 24 bridges by the deluge in the district during the last three days. According to officials, floodwaters also destroyed roads with a total length of 130 kilometers in the district. They said more than 1,000 tourists stranded in Kalam and Bahrain areas were being evacuated by helicopter for the safe return to their respective areas. Scores of people trapped in rivers rescued The officials also said the administration had begun rehabilitation activities in the district, while teams were draining floodwaters and vaccinating livestock against diseases. Information secretary Arshad Khan said around 10 tons of food items had b