Pakistan International Airlines (PIA) reported 102 bird strike incidents involving its aircraft during year 2024, ARY News reported on Friday.According to the airline’s official report, the Airbus A320 fleet was the most affected, accounting for 85 of the total incidents in the last year.Among the airports, Lahore witnessed the highest number of bird strikes with 28 cases, followed by Islamabad with 18 and Karachi with 17. Multan reported 14 incidents, while Faisalabad recorded 6.Nine PIA aircraft were directly affected by bird strikes in 2024, with significant financial damage caused to the national carrier. PIA estimates that bird strike-related repairs cost the airline thousands of dollars annually.The trend continues into 2025, with 25 bird strike incidents recorded in the first five months of the year. These included 14 cases involving A320s and 10 involving Boeing 777 aircraft.Lahore, Multan, and Karachi reported 6, 5, and 2 cases respectively, while Islamabad, Peshawar, and Sialkot each recorded two incidents.Read more: PIA flight hit by bird after take-off from Karachi airportApril 2025 alone saw 7 bird strikes, underscoring the persistent threat during warmer months.In light of the upcoming Eidul Adha festivities, PIA has issued a public advisory urging citizens to dispose of animal waste at designated locations only and avoid dumping remains near airport vicinities.“Improper disposal of offal near airports significantly increases the risk of bird strikes, which can lead to major aviation accidents,” the airline warned.PIA underlined the importance of maintaining cleanliness around airports and called on citizens to exercise caution and responsibility, especially during Eid celebrations, to prevent potential tragedies.

The Bohra community in Karachi is celebrating Eidul Adha with religious fervour on Friday (today), ARY News reported.The biggest gathering of the community took place at the Tahiri Mosque near Zahid Nihari in Saddar.Sindh police personnel were deployed to ensure the safety and security of the community during their celebrations.The Eid prayers were followed by the ritual of sacrificing animals as Eidul Adha involves slaughtering sheep, goats, cattle and camels, marking the end of the Hajj pilgrimage to Makkah and in commemoration of Prophet Ibrahim's (AS) readiness to sacrifice his son Ismail on Allah's command.Read more: Eidul Adha being celebrated in Saudi Arabia other countries Muslims around the world are celebrating the annual festival of Eidul Adha today, and many others will mark the festival in other parts of the world tomorrow (Saturday).Meanwhile, Eid ul Adha is being celebrated in Saudi Arabia as well today. The largest Eid prayer were held at Masjid al-Haram in Makkah and Masjid an-Nabawi in Madinah. Prime Minister Shehbaz Sharif, who performed Umrah late last night with his delegation, offered Eid prayer at Masjid al-Haram.

Pilgrims performed the last major ritual of the Hajj 2025 -- the "stoning of the devil" -- on Friday, as Muslims around the globe celebrated the beginning of the Eidul Adha holiday.Starting at dawn, more than 1.6 million Muslims taking part in the pilgrimage threw seven stones at each of three concrete walls symbolising the devil in the Mina valley, on the outskirts of the holy city of Makkah.The ritual commemorates Hazrat Ibrahim's stoning of the devil at the three spots where it is said Satan tried to dissuade him from obeying God's order to sacrifice his son.Hajj 2025 saw authorities implementing a range of heat mitigation efforts alongside a wide-ranging crackdown on illicit pilgrims -- resulting in noticeably thinner crowds and a heavy security presence at holy sites in Makkakh and surrounding areas.The measures were aimed at preventing a fatal repeat of last year's Hajj that saw 1,301 people die in temperatures that hit 51.8 degrees Celsius (125 degrees Fahrenheit).Saudi authorities said a majority of those deaths were among pilgrims who illegally snuck into Makkah and lacked access to accommodation and other services aimed to keep pilgrims safe and protected from the searing desert heat.Hajj 2025 permits are allocated to countries on a quota basis and distributed to individuals by a lottery system. But even for those who can secure them, the high costs spur many to attempt the Hajj without a permit, even though they risk arrest and deportation if caught.Read more: Hajj 2025 sermon: Imam-e-Kaaba prays for destruction of enemies of PalestineThe stoning ritual in the Mina valley was the scene of a fatal stampede in 2015, when 2,300 people were killed in one of the deadliest Hajj disasters.Saudi Arabia earns billions of dollars a year from the Hajj, and the lesser pilgrimage known as Umrah, undertaken at other times of the year.The pilgrimages are also a source of prestige for the Saudi monarch, who is known as the Custodian of the Two Holy Mosques of Makkah and Madinah.The end of the Hajj coincides with the beginning of Eidul Adha -- an annual feasting holiday marked by the slaughter of an animal -- typically a goat, sheep, cow, bull or camel.

KARACHI: The prices of sacrificial animals have come down at Karachi cattle market as Eidul Adha is right around the corner, ARY News reported on Friday.As per details, the arrival of sacrificial animals at the Northern Bypass cattle market continues in full swing as Eidul Adha approaches.The prices of sacrificial animals have dropped significantly by Rs70,000 to Rs80,000 in the Karachi cattle market, providing relief to buyers.According to market buyers, a sacrificial animal weighing approximately 3.5 maunds is currently being sold for Rs210,000.Over 250,000 animals have been brought to the city’s cattle market from across the country, catering to rising demand during the festive season.Read more: Eidul Adha being celebrated in Saudi Arabia other countries Market Administrator, Shahab Ali confirmed that out of 250,000, more than 150,000 sacrificial animals have already been sold.As per the administration, 80,000 to 85,000 animals are currently present across various blocks of the the Northern Bypass cattle market, with trade activity expected to increase in the coming days.

KOHAT: Former Senator Abbas Afridi has succumbed to his wounds after being injured in the gas leakage blast in Kharian, ARY News reported on Friday, citing family.As per details, Abbas Afridi was critically injured in a gas leakage explosion that occurred a day earlier while three associates accompanied him.He was receiving treatment at the Burn Centre in Kharian, confirmed his nephew, Hussain Afridi.The schedule for Abbas Afridi’s funeral prayers will be announced at a later time, the family added.Abbas Afridi was elected to the Senate of Pakistan in March 2009 as an Independent candidate. He was sworn in as federal minister of Textile Industry on 19 March 2014.Later he contested the 2018 Pakistani general election from NA-32 Kohat as a candidate of Pakistan Muslim League Nawaz (PML-N), but was unsuccessful. He received 44,154 votes and was defeated by Shehryar Afridi, a candidate of Pakistan Tehreek-e-Insaf.He contested the 2024 Pakistani general election from NA-35 Kohat as a candidate of PML(N), but was unsuccessful. He received 58,034 votes and was defeated by Shehryar Afridi, an independent candidate supported by PTI.On 25 June 2024, he left the Pakistan Muslim League Nawaz and joined Pakistan People's Party.

KARACHI: Karachi's administration has imposed an eight-day ban on visiting coastal areas under Section 144 due to high tides and rough sea conditions, ARY News reported.According to the announcement, the restriction is effective from June 6 to June 13, 2025, and is applied to KANNUP Beach, Sunerah Beach, Mubarak Village, Turtle Beach, and Dua Chowk Beach.The Karachi beach ban was implemented following a request from the Karachi Metropolitan Corporation (KMC), highlighting rising drowning incidents and dangerous waves during the monsoon season.The Karachi beach ban under section 144 forbids swimming, bathing, diving, and all entertaining activities at these locations to avert fatalities.Commissioner Syed Hassan Naqvi emphasised that this measure is a defensive stage to ensure public safety.Law enforcement officials have been ordered to take action against violators under Section 195 (i) (a) and Section 188 of the Pakistan Penal Code (PPC).Officials have stated that the Karachi beach ban is temporary but may be extended if hazardous sea conditions persist.Citizens are urged to cooperate with authorities and avoid visiting restricted areas during this period.Read More: Punjab imposes section 144 during Eid al-AdhaLAHORE: On the directives of the Punjab government, Section 144 of the Criminal Procedure Code has been imposed from June 5 to June 11, to maintain public peace and safeguard the lives of citizens during the Eid al-Adha holidays.The notification was issued on account of the reports associated with Eid al-Adha celebration practices, which are not safe and unhygienic.The Punjab government has announced several guidelines to ensure public safety, hygiene, and public order during the upcoming Eid occasion.According to the notification, animal remains, such as heads and trotters, cannot be burnt in public spaces. Also, animal waste and offal are prohibited from being discarded in drains, manholes, canals, or other water bodies to stop contamination.The Home Department has given strict instructions to all district administrations and law enforcement agencies to impose the restrictions and take legal action against any violations.

MULTAN: In a key operation, Pakistan’s intelligence agencies, in collaboration with the National Cybercrime Investigation Agency (NCCI) Multan, have knocked down a global cybercrime network that was operational in the country. In the crackdown, five members of a 21-member gang, including Muhammad Aslam, Adeel Aziz, Usama Nawaz, Abdul Moeez, and Shoaib Nazir.The network, reportedly led by Rameez Shahzad, was found guilty of multi-million dollar fraud targeting foreign nationals, mainly Americans.Earlier, in the USA, the FBI and Dutch police identified the network’s fraudulent activities and later blocked dozens of scam websites connected to the group.Officials exposed that Rameez Shahzad, originally from Fatehpur Layyah, had launched cybercrime network in Lahore and Multan.Rameez Shahzad would frequently travel to Abu Dhabi, where he reportedly collaborated in fraudulent operations. Upon the investigation, luxury vehicles and other high-value assets worth millions were apprehended.More raids in Lahore resulted in finding a lot of digital evidence, such as mobile phones, laptops, and storage devices.The suspects are not allowed to travel outside the country, and their names have been placed on the Exit Control List (ECL).Legal actions have started under Pakistan's Prevention of Electronic Crimes Act (PECA) and other important laws. Authorities are also working to find the other members of the group.Read More: Builder.ai faked AI with 700 Indian engineers, now files for bankruptcyBuilder.ai, a UK-based Artificial Intelligence company backed by Microsoft, which once had a net worth of $1.5 billion, has filed for bankruptcy, following revelations that behind its ‘artificial neural network’ was a workforce of around 700 engineers operating from India.The company had marketed its AI-powered app development tool, ‘Natasha’, as a revolutionary system capable of autonomously designing and coding software at high speed.However, successive investigations exposed that the majority of the development work was performed by human engineers in India, rather than by Artificial Intelligence (AI).

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired a follow-up meeting of the Pakistan Crypto Council (PCC) on Thursday to assess advancements in crafting a detailed regulatory structure for digital and virtual assets in Pakistan.The meeting featured virtual participation from Bilal Bin Saqib, the Special Assistant to the Prime Minister on Blockchain and Crypto, and Chief Executive Officer of the Pakistan Crypto Council Minister.Governor of the State Bank of Pakistan (SBP), Chairman of the Securities and Exchange Commission of Pakistan (SECP), Secretary, Law & Justice Division, and Secretary, Ministry of Information Technology & Telecommunication also attended the meeting.During the meeting, the Ministry of Law and Justice tabled a draft of the proposed legal framework, developed through close collaboration with members of the Pakistan Crypto Council, key stakeholders, and technical experts.The draft legislation outlines a robust regulatory structure for digital and virtual assets, encompassing governance mechanisms, licensing protocols, and investor protection provisions.Designed in alignment with international best practices and evolving global standards, the proposed framework seeks to position Pakistan as a forward-looking participant in the digital asset ecosystem.Read More: SBP issues clarification on virtual assets’ legal statusFinance Minister Muhammad Aurangzeb lauded the collaborative efforts of all involved and underscored the importance of swiftly finalizing and operationalizing the framework to provide legal certainty and harness the economic potential of blockchain and crypto technologies in the country.During the meeting, the draft was thoroughly reviewed and refined. It was collectively agreed that in-principle approval process will be fast-tracked to ensure timely enactment and effective implementation.

ISLAMABAD: Pakistan People’s Party (PPP) leader and CEC member Chaudhry Manzoor, who heads the People’s Labour Bureau, called on President Asif Ali Zardari as they discussed the challenges faced by government employees and the increase in their salaries and pensions in the budget 2025-26.During the meeting, Chaudhry Manzoor requested President Zardari to advocate for a 50 percent salary increase for government employees and a 100 percent hike in pensions in the upcoming 2025-26 federal budget.The budget is scheduled to be presented on Tuesday, June 10, following the Eid ul Adha holidays, with final preparations underway and input being gathered from various sectors.Chaudhry Manzoor proposed a minimum 50 percent raise in salaries of government employees while he also suggested the integration of ad hoc relief into basic pay and the abolition of pension reforms.The People’s Labour Bureau head also demanded a minimum monthly wage of Rs50,000 for laborers and a 100 percent increase in EOBI pensions.President Zardari hoped that the federal government would prioritise the welfare of the working class in the budget. He said that societal progress cannot be achieved without providing relief to the working community.Read More: Budget 2025-26 to be presented on June 10Meanwhile, it was reported that the International Monetary Fund (IMF) has agreed to provide income tax relief to the salaried classAccording to official sources, the IMF is now willing to reduce income tax rates across all salary slabs.Sources revealed that the relief will be granted through amendments to Section 129 of the Income Tax Ordinance, which governs exemptions and concessions.One of the major changes under discussion includes raising the annual tax-free income threshold from the current Rs600,000 to Rs1 million.This would mean monthly salaries up to Rs83,000 will become tax-exempt — a substantial increase from the current Rs50,000 exemption limit.

KARACHI:  The National Electric Power Regulatory Authority (NEPRA) has proceeded with its decision on the write-off petition of K-Electric (KE), letting a partial claim of PKR 50 billion against PKR 76 billion request of the company. The K-Electric Write-Off claims relate to the Multi-Year Tariff (MYT) control period spanning FY17 – FY23.According to K-Electric (KE) CEO Moonis Alvi, “With this, the majority of the pending items from the earlier control period will be closed. KE looks forward to the MYT for the control period spanning FY24 to FY30, committed to meeting its serviced territory’s energy needs.”The K-Electric Write-Off claims follow public hearings and thorough considerations, allowing stakeholders to raise concerns addressed by KE management.NEPRA conducted thorough internal evaluations and external validations of KE's submissions through accredited auditing firms to ensure adherence to the MYT framework.Chief Financial Officer (CFO) of KE, Muhammad Aamir Ghaziani, emphasised that these costs were part of the Multi-Year Tariff awarded for 2017-2023, accepted after severe benchmarks, audits, and regulatory conditions.Recent hearings have scrutinized K-Electric Write-Off claims, including an additional PKR 8.1 billion request.Read More: NEPRA notifies reduction in KE tariffNEPRA has raised concerns over audit transparency and the potential for future claims. Consumers have also voiced opposition, fearing increased financial burdens on electricity bills.KE maintains that these write-offs are essential for financial sustainability, arguing that they pertain to legacy liabilities rather than current outstanding amounts.About K-Electric:K-Electric (KE) is a publicly traded company that was originally established in Pakistan in 1913 under the name KESC. Following its privatisation in 2005, KE has become the sole vertically integrated power utility in the country, providing electricity to Karachi and its surrounding areas.The majority ownership of the company, comprising 66.4% of its shares, is held by KES Power, a consortium that includes Al-Jomaih Power Limited (Saudi Arabia), the National Industries Group (Kuwait), and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan retains a 24.36% stake in KE, while the remaining shares are available for public trading.

KARACHI: The National Electric Power Regulatory Authority (NEPRA) has reduced K-Electric’s (KE) tariff by Rs2.99 per unit, ARY News reported.According to a notification issued here, the reduction has been made under monthly fuel adjustment for March which will reflect in the June electricity bills, offering some respite of KE consumers amid soaring power costs and prolonged load-shedding in Karachi.Meanwhile, the city has been grappling with intensified unannounced load-shedding as summer heat peaks, drawing protests not only from residents but also from elected representatives.In a recent interview on ARY News, K-E CEO Moonis Alvi conceded the high electricity costs but deflected responsibility, attributing the pricing to government policies.Read More: Govt announces reduction in electricity tariff“We submit tariff proposals to NEPRA, and they issue the final decision,” he said. “We bill consumers according to the government’s directives.” Moonis Alvi also noted that K-Electric now operates under a non-exclusive license, allowing other companies to supply electricity in Karachi as well.He explained that K-Electric generates electricity using furnace oil and regasified liquefied natural gas (RLNG). “If we are granted the authority, we would charge consumers based solely on the actual cost of electricity generation,” he added.

Karachi/Ottawa- June 5, 2025: Canadian Dollar (CAD) is the same as Pakistani Rupee (PKR) today at 201.55 PKR, following the current forex market trend.Stability of monetary policy and trade policy in times of economic slowdown at a global scale is relief to Pakistani families and businesses and remittance-based families.Valuation Process of CAD to PKRCanadian Dollar to Pakistani Rupee exchange rate is influenced by a mix of foreign exchange (forex) market economic determinants. Determination occurs through:Demand and Supply: The CAD-PKR exchange rate will be determined by the supply and demand of both currencies locally and internationally. Excess demand has the potential to make CAD higher than PKR, typically caused by exports from Canada like oil or good economic performance. Higher demand for PKR in trade or remittances will make PKR stronger.Central Bank Monetary Policies: The top tenors of Bank of Canada and State Bank of Pakistan should be given top priority. Canada's historically low inflation level and Canadian prudent money policy centered on 2% have been contributing the major share to CAD strength for years. With respect to relatively higher Pakistan inflation levels and political risk exposures, being inclined towards devaluing PKR as elaborated in recent research works.Global Economic Indicators: Geopolitics, interest rate spreads, and trade balances dictate the tempo. U.S. tariff threats, for instance, have been weakening the CAD, though realignments in the marketplace damped these.Market Sentiment: Expectation-driven and Speculative fx traders' speculation on global trade flows and economic projections can induce short-run volatility. Recent stability at 201.48 PKR only proves a risk-discounted marketplace such as U.S. tariffs.Influence of StabilityCAD stability of 201.55 PKR has long-term implications:Remittances: Remittance-reliant Pakistan gains from stable CAD-PKR exchange rate. Stable exchange rate ensures steady inflows into households that are able to support consumption and domestic economies.Trade and Companies: Pakistani companies that import Canadian goods, e.g., machinery or fruits, can expect costs, and planning and budgeting are therefore a piece of cake. However, companies need to be careful because the fine points of global trade, i.e., U.S. tariffs, can mar this equilibrium.Inflation and Cost of Living: A stable Canadian Dollar reduces imported inflation in Pakistan since a weakened PKR increases the cost of imported items. The stability would relax consumer price pressure, even though the overall inflation issues still bother Pakistan.Investment Opportunities: Investors and policymakers in every country can invest more reliably with fixed exchange rates. Future volatility, however, may well be prompted by current global trade tensions, notably U.S. policies.Introduction to CAD and PKRCanadian Dollar, also referred to as the "loonie" due to its depiction of a loon bird on one-dollar coin, is Canada's official currency. It is controlled by the Bank of Canada and is stable depending on Canada's economic stability, inflation, and the exportation of bountiful natural resources like wood and oil. Its exchange rate is highly dependent on global commodity prices and global trade with America.State Bank of Pakistan regulates the nation's official government currency, i.e., Pakistani Rupee (PKR). PKR is utilized across the country, from major cities such as Karachi to small villages. The currency is highly sensitive to inflation rates, foreign exchange reserves, and political stability.PKR has devastated during the last decade against robust currencies, from 105 PKR per USD in 2012 to 226 PKR per USD in 2022, indicating economic decline. Steadiness in Canadian Dollar's value against 201.55 Pakistani Rupee is a relief against uncertainty of an unstable world economy. While the process of valuation is a complicated mix of central bank intervention, supply and demand forces, and moods in the world, the effects become real in remittances, trade, and inflation control. While currencies ride out international shocks like American tariffs and domestic economic performance, companies and policymakers alike will be incredibly interested in forex news in order to ensure economic stability. DOLLAR AND OTHER CURRENCY RATES TODAY

Karachi/Sydney, June 5, 2025 – Today, the Australian Dollar (AUD) held steady against the Pakistani Rupee (PKR), trading at 180.17 PKR in the open market according to various currency exchange platforms.This stable performance reflects a balance of economic influences affecting both currencies, with market participants closely monitoring global and regional sentiments.Valuation Mechanism: Supply, Demand, and Economic DriversThe AUD/PKR exchange rate is mainly shaped by the interaction between supply and demand in the foreign exchange market. Key factors that influence this rate include differences in interest rates, commodity prices, and economic indicators. The Australian economy, significantly tied to commodity exports like iron ore, benefits from global demand, which helps support the AUD's value. However, recent trade tensions with China and declining construction activity have introduced price volatility that could hinder further appreciation of the AUD. On the other hand, the PKR faces challenges due to Pakistan’s low foreign exchange reserves, soaring inflation, and reliance on IMF assistance, which can lead to fluctuations in its value. The monetary policies of the Reserve Bank of Australia (RBA) and the State Bank of Pakistan also affect the yield differential, which draws investor interest toward each currency.Effect on Trade and InvestmentThe consistent value of the Australian Dollar at 180.17 PKR fosters a stable atmosphere for bilateral trade and remittances, especially for the 125,000 Pakistani expatriates living in Australia. Stable exchange rates facilitate transactions for Australian-Pakistani businesses engaged in trade, which, while small, is expanding. However, a potential rate cut by the RBA in 2025 could weaken the AUD, pushing the AUD/PKR exchange rate to 181, impacting Pakistan’s import costs from Australia. A steady AUD against the PKR would enhance Pakistani investors’ confidence in investing across borders, particularly in Australia’s commodity-driven economy. Conversely, the historical instability of the PKR, driven by economic challenges, presents risks, especially if external factors like delayed IMF loans become more intense.Currency Profiles: AUD and PKRThe Australian Dollar (AUD) serves as the official currency of Australia and is viewed as strong due to the country's significant commodity exports and sound economic policies. Managed by the Reserve Bank of Australia, the AUD is a currency that trades internationally and typically experiences fluctuations based on commodity prices and interest rate expectations.The Pakistani Rupee (PKR) is Pakistan’s legal tender, issued by the State Bank of Pakistan and subdivided into 100 paise (though paise coins are no longer in circulation). The value of the PKR is influenced by the nation’s economic growth, trade balance, and foreign reserves; recurring challenges such as inflation and geopolitical tensions contribute to its instability.

Karachi/Dubai- June 5, 2025: The most recent information from the currency market reveals that the exchange rate for the UAE Dirham (AED) is currently at 76.44 PKR against the Pakistani Rupee (PKR).This stable rate follows a period of consistency in the exchange values of AED and PKR, supported by steady remittances and positive economic conditions in both the UAE and Pakistan.Understanding the AED-PKR Exchange RateThe exchange rate between the UAE Dirham and the Pakistani Rupee is influenced by market forces and decisions made by central banks. Since 1997, the Dirham has been pegged to the US Dollar at approximately 3.67 AED/USD, as a result of the UAE Central Bank’s policy. This fixed exchange rate helps to preserve the Dirham's value in relation to the US Dollar, which is backed by the UAE’s oil-dependent economy and ongoing diversification efforts.On the other hand, the value of the PKR is determined by a floating exchange rate system. Our analysis indicates that it is primarily influenced by the supply and demand dynamics of foreign currencies. The State Bank of Pakistan steps in occasionally to mitigate volatility. Several factors, including remittances, foreign reserve levels, the trade balance, and inflation—further highlighted by the noteworthy $3.1 billion sent from the UAE in February 2025—play vital roles in shaping the PKR’s value.The daily conversion rates for AED to PKR are established through interbank and open market transactions. The current buying rate is set at 76.67 PKR, whereas banks and exchange companies have a selling rate of around 77.25 PKR, which may include a minor additional fee for sellers. This information is refreshed every day at 8:00 AM Pakistan Standard Time and may fluctuate throughout the day due to market conditions.Significance of StabilityThe fixed exchange rate of 76.44 PKR for the UAE Dirham significantly impacts Pakistan and the more than two million Pakistani expatriates residing in the UAE. This stable rate fosters confidence among them when sending remittances back to support their families in Pakistan. Furthermore, it benefits trading companies engaged in the import and export of goods such as food, clothing, and construction materials between Pakistan and the UAE, thus minimizing the risks associated with currency fluctuations.For Pakistan's economy, a steady AED-PKR exchange rate enables effective remittance flows, which are crucial for bolstering foreign exchange reserves. Analysts suggest that this stability results from sound trading practices, strong reserves, and an absence of speculative pressures. The UAE is a key economic partner for Pakistan, with remittances playing a role in stabilizing the PKR. However, the managed floating nature of the PKR makes it vulnerable to domestic factors such as inflation and trade deficits. Currency analysts caution that despite the current stability of the AED-PKR exchange rate, market participants should remain alert for potential volatility arising from external elements like shifts in oil prices and geopolitical tensions that could affect the value of the US Dollar and, subsequently, the Dirham.Overview of AED and PKRThe UAE Dirham was introduced in 1973 as the official currency of the UAE, replacing the Qatar and Dubai Riyal. It is issued and managed by the UAE Central Bank and is subdivided into 100 fils. The currency is abbreviated as AED, and its peg to the US Dollar is maintained through the UAE’s oil riches, prudent financial governance, and its prominence as a global trade hub. The Dirham is used throughout all seven emirates, especially in major cities like Dubai and Abu Dhabi, as well as popular tourist destinations.The Pakistani Rupee, which began circulation in 1947, serves as Pakistan's official currency. It is regulated by the State Bank of Pakistan. Currency Rates in Pakistan Today

ISLAMABAD: Pakistan Muslim League Nawaz (PML-N) senior leader and head of Senate parliamentary party Senator Irfan Siddiqui has asserted that Pakistan Tehreek-e-Insaf (PTI) has lost its ability to mobilize any movement following May 9, violent protests.As per details, he stated that Khan Sahib was grappling with intense despair. On one hand, he asserted that PTI was the largest party, capable of mobilizing millions on the streets to ignite a revolution.Yet, he questioned why, if PTI truly holds such influence, it is seeking support from figures like Mahrang Baloch. He further remarked that in its current state of desperation, PTI might even contemplate aligning with the BLA, while forming any meaningful political alliance remains beyond its reach.Irfan Siddiqui said PTI never desired for negotiations, democratic processes or parliamentary traditions, adding that the party was now incapable of forming any meaningful or effective political alliance based on a broader purpose or ideology, as evidenced by the bitter experiences of Maulana Fazlur Rehman and Mahmood Khan Achakzai.Quoting Imran Khan, he said that Khan sahib was calling on the youth to rise and fill the jails simply because he himself was imprisoned, but he said, you are in jail due to your own actions, so why should the youth of Pakistan jeopardize their future and suffer the consequences of your mistakes?Irfan Siddiqui dismissed the claim that any government or establishment official met Imran Khan in jail or made him an offer, calling it self-deception meant to mislead his followers and saying if such an offer was made, Khan should name the person openly.He said Imran Khan targeted the opposition with false cases, but the current government has done no such thing to PTI, adding that they used to jail people on fake heroin charges, accuse others of ephedrine smuggling, treason, or even rent disputes, whereas we are not resorting to such tactics.In response to a question, the PML leader said that when Khan sahib was out of jail, at the height of his popularity, and personally leading protest rallies, he achieved nothing significant, so what does he expect to accomplish now from behind bars?Senator Irfan Siddiqui said PTI neither struggled politically nor endured any real hardships to gain power, instead they rode into the corridors of power on the back of military support.

Kuwait City/Karachi – June 5, 2025 – According to open market data, the exchange rate of the Kuwaiti Dinar (KWD) against the Pakistani Rupee (PKR) has remained stable at 913.99 PKR.This slight shift in the exchange rate has led analysts and traders to comment on the potential factors affecting its value and the consequences for trade and remittances between the two countries.One Kuwaiti Dinar is equivalent to 913.99 Pakistani Rupees.Understanding the KWD-PKR Exchange RateThe exchange rate of the KWD in relation to the PKR is affected by various economic and market factors. The Kuwaiti Dinar, known as one of the strongest currencies globally, is linked to a currency basket and does not freely fluctuate. This pegged situation contributes to its stability. The Central Bank of Kuwait maintains this peg to ensure a consistent currency value relative to major international currencies.On the other hand, the Pakistani Rupee is subject to a floating system, with its value determined by supply and demand in the foreign exchange market, although the State Bank of Pakistan intervenes from time to time to maintain stability. Factors such as foreign currency reserves, trade balances, inflation rates, and the differences in interest rates between Kuwait and Pakistan greatly influence the KWD-PKR exchange rate.The recent decrease of the Kuwaiti Dinar from 916 to 913.99 PKR is interpreted as a result of minor changes in market sentiment due to shifts in Pakistan’s foreign reserves or changes in demand for the dinar from Pakistan. Traders pointed out that such small variations are expected and will likely be resolved quickly due to Kuwait’s strong economic fundamentals.Consequences for Trade and RemittancesThe minor decline in the KWD against the PKR has implications for economic relations between Kuwait and Pakistan. Remittances play a crucial role in Pakistan’s economy, with many Pakistani expatriates residing in Kuwait. A weaker KWD indicates that Pakistani workers in Kuwait might see a reduction in the value of their remittances when converted to PKR. For instance, a monthly remittance that previously equated to 91,600 PKR is now worth 91,399 PKR—a slight adjustment that could have important long-term consequences for those dependent on these remittances.In terms of bilateral trade, the impact is expected to be minimal due to the negligible nature of the decline. Kuwait exports oil products to Pakistan while importing textiles, agricultural goods, and labor services from Pakistan. A stable exchange rate helps ensure consistent trading costs, and experts believe that the current rate of 913.99 PKR will not significantly alter trade relations.Overview of KWD and PKRThe Kuwaiti Dinar (KWD) is the official currency of Kuwait, which was established in 1961 to replace the Gulf Rupee. Its high value is supported by Kuwait’s vast oil reserves and stable economic policies, ranking it among the most valuable currencies worldwide.Launched in 1948, the Pakistani Rupee (PKR) serves as the official currency of Pakistan. Its value is shaped by the national economy, foreign exchange reserves, and changes in the international market. Despite persistent volatility, the PKR remains a cornerstone of Pakistan’s economy, strengthened by remittances and exports.Market participants will monitor the economic situations in both nations closely as the KWD-PKR exchange rate stabilizes to anticipate future developments.

KARACHI: The Sui Southern Gas Company (SSGC) has announced the uninterrupted gas supply during Eid ul Adha holidays, ARY News reported on Thursday.SSGC said that there will be no loadshedding in Sindh, including Karachi, bringing relief to the citizens.According to a statement, the gas supply will remain uninterrupted during the Eid holidays (June 7 to 9). However, the company has clarified that the regular gas loadshedding schedule will resume from June 10.Pakistan will celebrate Eidul Adha on June 7 Saturday.Eidul Adha, also known as the Festival of Sacrifice, is a significant Islamic holiday celebrated by millions of Muslims around the world, including Pakistan.It marks the willingness of Prophet Ibrahim (PBUH) to sacrifice his son as an act of obedience to Allah. To commemorate this occasion, Muslims engage in acts of charity, perform special prayers, and share festive meals with family and friends.Read More: Heatwave expected across Pakistan during Eid holidaysMeanwhile, Pakistan Meteorological Department (PMD) has issued a severe heatwave warning across most parts of the country during the upcoming Eid-ul-Adha holidays and the following week.According to the Met Office, a high-pressure system is expected to develop over Pakistan on June 07, which will grip most regions from June 08 onwards, significantly increasing day temperatures.Daytime temperatures are expected to rise 5-7C above normal in the upper half of the country, including central and upper Punjab, Islamabad, Khyber-Pakhtunkhwa, Kashmir, and Gilgit-Baltistan from June 7-12.In the southern half, covering upper and central Sindh, southern Punjab, and parts of Balochistan, temperatures are likely to remain 4-6C above normal during the same period.Dust storms and gusty winds are also anticipated over the plains due to excessive surface heating.

ISLAMABAD: The Uzbekistan Airways will launch direct ‘Tashkent–Islamabad’ flights starting June 14, 2025 for increasing the air connectivity between two friend countries.As part of a broader vision to enhance regional integration and connectivity, Uzbekistan Airways, the national carrier of the Republic of Uzbekistan, will launch direct flights between Tashkent and Islamabad mid of June 14, 2025.Operating every Saturday, the new route underscores the shared commitment of Uzbekistan and Pakistan to strengthen their long-standing partnership and deepen cooperation across multiple sectors, said a release issued here on Thursday.This direct link marks a strategic advancement in bilateral relations and aligns with the broader goals of the Central and South Asia Connectivity Initiative – a regional framework aimed at fostering infrastructure development, trade, energy cooperation, and people-to-people exchanges between the two regions.In addition to the new Islamabad route, Uzbekistan Airways currently operates biweekly direct flights to Lahore on Wednesdays and Fridays.These connections are helping expand the airline’s regional footprint, linking Pakistan’s major cities not only with Uzbekistan, but also with the wider Central Asian region and beyond.Together, these routes support cross-border mobility, business travel, educational exchange, and cultural cooperation.As both countries pursue ambitious agendas of modernization and economic diversification, the Tashkent-Islamabad flight offers a practical, high-impact platform for advancing trade facilitation, attracting investment, and enhancing regional supply chain networks.Key sectors, such as textiles and apparel, agriculture and agro-processing, pharmaceuticals, logistics and transport, tourism and hospitality, are expected to benefit from this enhanced connectivity.Serving as gateways to larger regional blocs – Uzbekistan to Central Asia and the CIS, and Pakistan to the Indian Ocean and Gulf states – both nations are well-positioned to leverage this route as a channel for transregional trade and transit.Beyond its commercial significance, the Tashkent-Islamabad route is poised to enhance people-to-people ties by enabling smoother, more direct travel for students, pilgrims, tourists, academics, and official delegations. As both countries work to rebuild regionalism and trust, such air links play a crucial role in fostering mutual understanding, cultural diplomacy, and shared prosperity.With a growing number of educational partnerships, cultural exchanges, and intergovernmental initiatives, improved connectivity is expected to significantly increase academic and civil society engagement.The direct link is also expected to boost tourism in both directions. For Pakistani travelers, Uzbekistan’s famed Silk Road cities – Samarkand, Bukhara, and Khiva – are now more accessible than ever. Likewise, Uzbek visitors can now more easily explore Pakistan’s rich landscapes, from the mountains of the north to historic and spiritual sites across the country.Tourist flows between the two nations have seen steady growth in recent years, driven by shared historical ties, cultural affinity, and religious heritage. The new air service offers a convenient and reliable option for a growing number of visitors, students, and pilgrims seeking meaningful cross-border experiences.This air route is a cornerstone of the Central and South Asia Connectivity Initiative, first proposed by the President of Uzbekistan in 2021. It is part of a broader strategic push to transform Central Asia from a landlocked region into a land-linked hub, through a combination of air, road, rail, and energy corridors.The Tashkent-Islamabad flight complements major regional infrastructure initiatives such as the Trans-Afghan Railway and supports broader cooperation in transport, logistics, infrastructure, energy, and digitalization.By connecting two dynamic and culturally rich regions, this air route fosters deeper economic integration, facilitates interregional trade, and contributes to continental connectivity across Asia.The launch of the Tashkent-Islamabad route is not only a milestone in bilateral cooperation but also a broader statement of intent: to build a peaceful, interconnected, and economically resilient Asia. It reflects a new chapter in regional diplomacy, where economic pragmatism and strategic connectivity go hand in hand.By reducing travel time and improving accessibility, Uzbekistan Airways is playing a pivotal role in translating this vision into tangible results.More than just a transport link, this route is a gateway to deeper economic integration, cultural exchange, and strategic partnership – a testament to the growing synergy between Uzbekistan and Pakistan, two nations united by shared values, complementary interests, and a long history of collaboration.

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted exemptions to boost innovation access in Pharmaceutical sector for maintaining market fairness.In line with its mandate to promote fair competition and protect consumer welfare, the CCP has granted six exemptions to undertakings in the pharmaceutical sector for the fiscal year 2024–25, under Section 5 of the Competition Act, 2010,said a press release issued here on Thursday.These exemptions relate to specific restrictive clauses in commercial agreements—such as territorial exclusivity and non-compete provisions—that would ordinarily be considered anti-competitive under Section 4 (Prohibited Agreements) of the Act.However, after conducting rigorous due diligence, including a detailed assessment of market structures, sector-specific regulations, and the commercial terms of the agreements, the CCP determined that the arrangements in question contribute to production efficiency, technological advancement, and enhanced consumer access to critical pharmaceutical products.The Commission noted that these exemptions are expected to improve service delivery, increase the availability of medicines in underserved regions, and lead to better public health outcomes. Consumers stand to benefit from access to advanced pharmaceutical technologies, more reliable product information, and higher standards of service.Each exemption was granted for a specific duration and is subject to conditions that ensure the pro-competitive benefits clearly outweigh any potential adverse effects on competition. Importantly, the undertakings are required to avoid any form of price-fixing or collusive conduct, and pricing arrangements remain outside the scope of these exemptions.The pharmaceutical sector remains a priority area for the CCP’s exemption regime, with the Commission maintaining close coordination with relevant health regulators to ensure that such decisions serve the broader public interest.

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has ordered the establishment of a high-powered committee to fast-track the construction of ‘non-controversial’ dams.Prime Minister Muhammad Shehbaz Sharif on Thursday termed India’s unilateral suspension of the Indus Waters Treaty (IWT) as “a blatant violation and act of water aggression” and warned that Pakistan will give a befitting response under the decisions taken in the April 24 National Security Committee (NSC) meeting.Chairing a high-level meeting on water resources at the Prime Minister’s House here, he vowed that, just as Pakistan achieved victory in the recent war, it would also triumph on the water front.The high-level meeting brought together Deputy Prime Minister and Foreign Minister Ishaq Dar, Field Marshal COAS General Syed Asim Munir, federal ministers, chief ministers of all four provinces, Prime Minister of Azad Jammu and Kashmir, Chief Minister of Gilgit-Baltistan, and senior federal and provincial officials.“This is a battle of justice, and like every battle we have fought with unity, we will defeat India’s water aggression with resolve and wisdom,” said the prime minister. He emphasized that living nations confront challenges head-on and make strategic, lasting decisions to protect their future generations.PM Shehbaz Sharif said that the Indian threats to weaponize water by attempting to violate the 1960 Indus Waters Treaty are increasing each day. He highlighted that the Treaty, a binding international agreement, does not allow any party to unilaterally withdraw, and India’s claims are politically and legally hollow.All provincial chief ministers, along with the leadership of AJK and Gilgit-Baltistan, strongly condemned India’s water threats and unanimously reaffirmed their support for the federal government’s position. The Prime Minister lauded this united stance, calling it “a reflection of our collective national resolve to protect Pakistan’s water security.”Emphasizing the urgency of enhancing water storage, PM Shehbaz Sharif ordered the establishment of a high-powered committee under Deputy PM Ishaq Dar to oversee funding strategies for new dam projects. The committee will include all provincial chief ministers, the Prime Minister of AJK, and relevant federal ministers, and is directed to submit its recommendations within 72 hours.Read more: ‘You need to study history’: Chinese scholar silences General (r) Bakshi during live debate“We will prioritize the construction of non-controversial reservoirs. Wherever there is unanimity, we must act without delay. These dams are not political — they are a national necessity,” the Prime Minister said. He made it clear that any project with cross-provincial consensus will be fast-tracked and completed on a priority basis.A detailed briefing was given during the meeting on Pakistan’s water infrastructure. Officials informed the participants that construction of the Diamer-Bhasha Dam is underway and expected to be completed by 2032, while the Mohmand Dam is likely to be completed by 2027.Currently, Pakistan has 11 dams with a total storage capacity of 15.318 million acre-feet. Under the Public Sector Development Programme (PSDP), 32 small and large dams are under construction, while 79 projects are underway under annual development programs.PM Shehbaz also pointed to the serious problem of silting in existing reservoirs like Tarbela and Mangla, which has drastically reduced their water retention capacities. He said bold decisions must be taken now, or history will judge today’s leadership harshly.“We owe it to our 240 million people to act decisively. This is not about politics — it’s about survival. The future generations must remember this leadership with respect for the choices we make today,” he declared.PM Shehbaz congratulated the Finance Minister, Economic Affairs Minister, and relevant secretaries for successfully securing loans from the World Bank and Asian Development Bank despite strong Indian lobbying. “India tried to sabotage our projects at the ADB for three days, but failed. Our diplomatic victory is a testament to Pakistan’s principled stand and growing credibility,” he noted.Concluding the meeting, the Prime Minister reaffirmed his unwavering belief in the collective strength of Pakistan’s national, provincial, and military leadership. “Just as our brave armed forces stood firm in the battlefield, we must now stand united in securing every drop of water for our people,” he said.The meeting was attended by Deputy Prime Minister Ishaq Dar, Field Marshal COAS General Asim Munir, Defense Minister Khawaja Asif, Planning Minister Ahsan Iqbal, Law Minister Azam Nazir Tarar, Information Minister Attaullah Tarar, Power Minister Owais Leghari, Water Resources Minister Muneeb Wattoo, and other key federal cabinet members. Punjab Chief Minister Maryam Nawaz, Sindh Chief Minister Murad Ali Shah, KP Chief Minister Ali Amin Gandapur, Balochistan Chief Minister Sarfraz Bugti, AJK PM Anwarul Haq, and GB Chief Minister Gulbar Khan were also present, along with senior civil and military officials.