ISLAMABAD, Nov 07 (DNA): The Government of Pakistan on Tuesday
dispatched the second consignment of humanitarian assistance for the
people of Gaza.

Foreign Minister Jalil Abbas Jilani saw off the special plane carrying
90 tons of hygiene kits, medicines, and food packages, here at Islamabad
International Airport.

Palestine’s ambassador in Pakistan Ahmed Jawad Rabi’I, Minister for
Human Rights Khalil George, and senior officials of the National
Disaster Management Authority (NDMA) were present.

FM Jilani said Pakistan was sending humanitarian assistance for the
people of Gaza who were persistently facing oppression by the Israeli
security forces.

He urged the international community to play its role in finding a
peaceful resolution to the conflict by establishing an independent state
of Palestine with Al-Quds as its capital.

He expressed Pakistan’s full solidarity with the Palestinian brothers
and sisters and condemned Israel’s brutal, disproportionate, and
indiscriminate use of force against civilians, including women and
children, currently besieged in Gaza.

The Foreign Minister underlined the urgency of bringing an immediate end
to Israeli aggression and lifting of the siege of Gaza. He called for
upholding the principles of justice and humanity and facilitation of the
delivery of humanitarian assistance to the people of Gaza.

Palestinian Ambassador Ahmed Jawad Rabi’i thanked the government of
Pakistan for the relief goods and said the people in Gaza were facing
extreme difficulties. He said Pakistan always supported the cause of
Palestine.

Earlier, Pakistan had sent its first consignment of 100 tones relief
goods to Gaza on 19th October.

Islamabad, NOV 7 /DNA/ – Namaz-e-Janaza of Lieutenant Colonel Muhammad Hassan Haider (age 42 years, resident of DHA-2, Islamabad) who embraced shahadat in general area of Tirah Valley, Khyber District was offered today at Chaklala Garrison, Rawalpindi.

Shaheed was buried with full military honour at Islamabad.

Prime Minister of Pakistan, Defence Minister, CJCSC, COAS and a large number of senior civil and military officers, soldiers, citizens and relatives of shaheed attended the Namaz e Janaza.

Funeral prayers of Naik Khushdil Khan (age 31 years, resident of District Lakki Marwat), Naik Rafique Khan (age 27 years, resident of District Charsadda) and Lance Naik Abdul Qadir (age 33 years, resident of District Murree) were also offered at their respective hometowns.

Armed Forces of Pakistan stand resolute and committed to eliminate the menace of terrorism from the motherland at all cost.

Electoral alliance will be to address public grievances not for ministries, says MQM-P’s Mustafa Kamal

Bureau Report

LAHORE: Pakistan Muslim League Nawaz (PML-N) and Muttahida Qaumi Movement Pakistan (MQM-P) on Tuesday announced that they would be jointly contesting the upcoming general elections — scheduled to take place on February 8, 2024.

The development comes following a meeting of an MQM-P delegation led by Khalid Maqbool Siddiqui, Farooq Sattar and Syed Mustafa Kamal with the PML-N supremo Nawaz Sharif in Lahore at the party’s Model Town secretariat.

Later, speaking to the media, senior PML-N leader Khawaja Saad Rafique said, “It had been decided that both parties will contest February 8 polls jointly”.

“Both parties have agreed to adopt a joint strategy to bring the people of Pakistan out of the current crises and to put Pakistan back on the path of development. The two parties also decided to set up a six-member committee to prepare a comprehensive charter to address the problems of Sindh province, especially its urban areas. The committee will present the final proposals for cooperation between the two parties to the leadership within 10 days,” a PML-N statement issued after the meeting stated.

The political analysts believe it was an expected move especially after the PML N and PPP had already girded up their loins against each other. Some term this arrangement as the marriage of convenience as both parties are backed by powers-that-be.

Charge d’affaires, embassy of the people’s republic of china, Pang chunxue called on the leader of the house, Senator Mohammad Ishaq Dar, at Parliament House

Faisal Sheikh

ISLAMABAD 7 Nov, 2023:- Charge D’affaires, Embassy of the People’s Republic of China, Pang Chunxue called on the Leader of the House in the Senate, Senator Mohammad Ishaq Dar, here at the Parliament House.

 The two sides discussed and explored the various avenues, especially available for both countries after the General Elections 2024 in Pakistan in order to enhance the existing economic and strategic cooperation between China and Pakistan.

 Senator Dar highlighted the deep-rooted historical bilateral relations between Pakistan and China and commended the Chinese continuous support to Pakistan on multiple fronts. He also underscored the need to deepen bilateral relations further in the economic, trade, and financial sectors.

 Senator Dar lauded the services and active support of the Charge D’affaires to the former PDM government which successfully dealt with the most difficult challenge of possible default during fiscal year 2022-23.

 The Charge D’affaires reciprocated the sentiments and admired the friendly relations between the two countries and the cooperation of Senator Dar as former Finance Minister of Pakistan. She assured the continuous support of her country to the people of Pakistan. She praised the huge potential of Pakistan in agriculture, Industry, IT, and services sectors. She added that China wishes to work together with Pakistan to fast track CPEC agenda in order to bring economic prosperity to the region.

Peshawar black market activated again; dollar rate in Karachi all time high: experts

Ansar M Bhatti
ISLAMABAD: In recent times, the Pakistani Rupee (PKR) has witnessed a rollercoaster ride against the US dollar, making it crucial to delve deeper into the factors behind these fluctuations. While there was a notable period of appreciation, the rupee has since faced consistent depreciation, leaving economists and policymakers pondering over the causes and solutions.
Not too long ago, the PKR managed to rally to an impressive exchange rate of Rs 277 against the US dollar, a momentous achievement for Pakistan’s economy. This period of relative strength was marked by several contributing elements. The implementation of various economic reforms aimed at improving fiscal and monetary policies played a pivotal role in strengthening the rupee. These reforms included efforts to reduce the fiscal deficit and promote responsible monetary policies.
Subsequently, a concerted effort to combat dollar hoarding and curb the activities of the smuggling syndicate played a pivotal role in restoring equilibrium between the US dollar and PKR. A targeted operation was initiated in the Khyber Pakhtunkhwa (KPK) province, resulting in the apprehension of numerous individuals involved in illicit cross-border trafficking of US currency.
Unfortunately, the initial period of economic stability was short-lived, and the Pakistani rupee began to weaken against the US dollar. Several factors contributed to the recent depreciation of the PKR. It appears that the crackdown on currency hoarders and smugglers has lost its momentum. Additionally, the mass exodus of Afghan refugees from Pakistan has introduced another challenge. Many of these departing families are opting to exchange their money for US dollars since the Pakistani currency is no longer accepted in Afghanistan. This surge in demand for the dollar has further exacerbated the situation.

The devaluation of the Pakistani Rupee (PKR) can be attributed to a multitude of external factors, such as global economic conditions, international oil prices, and geopolitical tensions. Pakistan’s economic stability is highly sensitive to these external influences, primarily due to its trade balance and heavy reliance on imported energy resources. Recent weeks have witnessed a notable increase in Pakistani imports, which has swiftly drained the nation’s foreign exchange reserves.
It has come to attention that certain commercial banks may be engaged in activities that contribute to the depreciation of the Pakistani Rupee (PKR). In the past, the State Bank of Pakistan has imposed fines on specific banks for engaging in questionable dollar transactions. The recent surge in the US dollar exchange rate serves as evidence of these banks’ reluctance to maintain financial discipline. It appears that, in pursuit of higher profits, these banks may be disrupting the equilibrium between the PKR and the US dollar.
Market sentiment and speculative trading have a significant influence on exchange rates. The perception of stability or instability can lead to rapid fluctuations in the currency market.
The fluctuations in the Pakistani Rupee against the US dollar demand a multifaceted approach. Addressing external influences, fiscal challenges, inflation, and market sentiment is crucial. Islamabad’s policymakers must work toward a sustainable economic environment that promotes long-term stability, attracts foreign investment, and fosters continued growth. While the PKR may have experienced a comeback, it is essential to build upon the lessons learned during this period of appreciation to establish a more resilient currency.
The Pakistan Stock Market has indeed been performing exceptionally well recently, with its index crossing the 54,000-point mark for the first time in the nation’s history. Nevertheless, it’s important to note that market experts caution that this upward trend may be temporary. There are several factors to consider when discussing the stock market’s performance. The presence of an IMF delegation in Pakistan has created a positive perception of the Pakistani economy. It’s possible that this visit is contributing to the current market surge. However, experts believe that once this delegation departs, the stock market may experience increased volatility. It’s important to recognize that stock markets are influenced by various factors, including investor sentiment, economic indicators, and global events.