Newsletter - Page 116 of 307

Pakistan’s Inflation Hits Lowest Levels in Over a Decade

PSX Surges on Optimism Over Rate Cut and Foreign Buying

Amid ongoing economic reforms, Pakistan’s inflation rate is expected to drop significantly, with the Consumer Price Index (CPI) for January 2025 forecasted to dip below 3%, marking the lowest level since November 2015.

According to a report by JS Global, January’s CPI inflation could fall to 2.8%, driven by a high base effect, despite a modest 0.6% month-on-month increase. This would lower the average inflation for the first seven months of FY25 to 6.7%, a sharp decline from 28.7% in the same period last fiscal year.

Similarly, Ismail Iqbal Securities Limited projects January inflation at 2.9%, a substantial improvement from 28.3% in January 2024.

In December 2024, inflation was recorded at 4.1% year-on-year, down from 4.9% in November, according to the Pakistan Bureau of Statistics (PBS).

PSX Surges on Optimism Over Rate Cut and Foreign Buying

Implications for Monetary Policy

The consistent decline in inflation has bolstered expectations of another rate cut by the State Bank of Pakistan (SBP). JS Global and Ismail Iqbal Securities anticipate a 100 basis point cut in the upcoming Monetary Policy Committee (MPC) meeting scheduled for January 27, 2025.

The SBP has already reduced the policy rate by a cumulative 900bps since June, bringing it down to 13% after a 200bps cut last month.

However, both brokerages warned that inflationary pressures may re-emerge by May 2025, as the high base effect begins to diminish.

Short-Term Gains with Lingering Challenges

For the week ending January 9, 2025, inflation dropped to 1.8% year-on-year, the lowest since October 2014. Independent economists attribute the decline primarily to the high base effect. Despite the promising figures, they caution that the average consumer continues to face challenges due to underlying economic pressures.

Economic Outlook

The current administration’s efforts to stabilize the economy and control inflation appear to be paying off, creating room for further monetary easing. However, as inflation trends remain favorable in the short term, the government and policymakers must prepare for potential price pressures in the months ahead.

This downward trajectory in inflation aligns with Pakistan’s broader goals of economic recovery, with hopes for sustained fiscal relief and long-term stability.

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Bilawal Confirms Attendance at US President’s National Prayer Breakfast

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari confirmed on Friday that he would attend the National Prayer Breakfast at the invitation of US President Donald Trump, emphasizing that his visit is personal and not on behalf of the government.

Speaking to the media, Bilawal addressed questions about his US trip, stating, “It is true that I have been invited, and this news has been reported by the media. However, for the details of the news’ origin, one should ask the media.”

He added that his participation continues a tradition dating back to his late mother, former Prime Minister Benazir Bhutto’s tenure. “I will definitely attend the breakfast and may also meet friends of Shaheed Mohtarma Benazir Bhutto during my visit. Since I am neither a minister nor a government official, this trip is entirely personal,” Bilawal clarified.

Background of PPP’s US Engagement

The PPP Chairman highlighted that this visit aligns with his party’s longstanding engagement with US political circles. He referenced PPP Co-chairman and former President Asif Ali Zardari’s participation in Donald Trump’s pre-inauguration oath ceremony in 2017.

Rana Sanaullah Holds PTI Responsible for Ending Dialogue Process

PPP’s Stance on Joining Cabinet

When asked about PPP’s role in the government, Bilawal reiterated that his party would not join the federal cabinet. He expressed confidence in the current government’s stability, saying, “Prime Minister Shehbaz Sharif will, Insha’Allah, complete his five-year term.”

Response to Geopolitical Queries

Addressing a query about the absence of a Pakistani representative at Trump’s oath-taking ceremony, Bilawal stated that the geopolitical situation between the US and China necessitated India’s inclusion alongside the Chinese president.

He reassured that Pakistan’s foreign policy remains intact and that the country’s nuclear assets and missile technology are enduring legacies of Zulfikar Ali Bhutto and Benazir Bhutto.

Bilawal’s visit reflects PPP’s continued efforts to maintain international relationships, underscoring the party’s historical ties with global leaders while steering clear of direct governmental representation.

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PSX Surges on Optimism Over Rate Cut and Foreign Buying

The Pakistan Stock Exchange (PSX) continued its upward momentum on Friday, buoyed by expectations of a rate cut in the upcoming Monetary Policy Committee (MPC) meeting and increased foreign interest, particularly in the cement sector.

The benchmark KSE-100 Index gained 1,741.26 points, or 1.53%, reaching an intraday high of 115,779.05 before closing near its peak. The market’s strong performance reflected growing investor confidence, with early trading lows of 114,383.16 quickly reversing.

Key Drivers of Market Sentiment

Ahfaz Mustafa, CEO of Ismail Iqbal Securities, highlighted several factors fueling the rally:

Rate Cut Expectations: A decline in Treasury bill (T-bill) yields by 20-41 basis points in Wednesday’s auction strengthened hopes of a 100-basis-point policy rate cut.
Foreign Buying: Increased interest from foreign investors, particularly in the cement sector, added momentum to the market.
Loan Inflows: The confirmation of a $1 billion loan agreement with Middle Eastern institutions and the UAE’s rollover of $2 billion deposits bolstered fiscal stability.
Corporate Earnings Optimism: Ongoing result season encouraged buying activity, with investors anticipating dividend announcements.

Macroeconomic Highlights

Inflation Trends: January’s Consumer Price Index (CPI) is projected to fall to 2.8%, the lowest since November 2015, due to a high base effect. The average inflation for the first seven months of FY25 stands at 6.7%, a significant drop from the previous year’s 28.7%.
Foreign Reserves: Despite a $276 million decline in State Bank reserves to $11.449 billion due to debt repayments, the reserves remain sufficient for over two months of imports. Fiscal pressure eased with the UAE’s deposit rollover and new short-term loans from Middle Eastern banks.
World Bank Partnership: Prime Minister Shehbaz Sharif welcomed the World Bank’s Country Partnership Framework for FY26-FY35, describing it as a “timely intervention” to address Pakistan’s economic challenges.

Indian Mobile Devices Pose Cybersecurity Threat to Pakistan

Market Performance Overview

On Thursday, the PSX had already shown signs of recovery, with the KSE-100 Index gaining 594 points to close at 114,037.79. Friday’s rally built on this momentum, driven by optimism over further monetary easing.

The central bank’s Monetary Policy Committee meeting, scheduled for Monday, January 27, remains the key focus for investors. State Bank of Pakistan Governor Jameel Ahmad is set to announce the policy decision later that day.

Outlook

Market participants are optimistic about a rate cut, supported by falling inflation, easing yields, and positive developments in fiscal inflows. With the government securing short-term loans and the World Bank’s framework in place, investor sentiment remains strong, providing a solid foundation for further recovery in the capital market.

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Rana Sanaullah Holds PTI Responsible for Ending Dialogue Process

Prime Minister’s Adviser on Public and Political Affairs, Rana Sanaullah, said on Friday that the Pakistan Tehreek-e-Insaf (PTI) is solely responsible for halting the dialogue process, dismissing claims that the government had any role in its breakdown.

Sanaullah asserted that the government remained committed to dialogue but emphasized the need for a structured approach. “We entered the dialogue and still want to continue, but there is a way of holding talks. One party presents their charter of demands, and the other responds, followed by framing and discussing the issues,” he explained.

Government’s Efforts for Dialogue

Sanaullah revealed that the government had requested seven working days to respond to PTI’s demands, setting a deadline of January 28. He said the government’s negotiation committee was prepared for further discussions on that date. However, he suggested that PTI regretted initiating the talks and was looking for an excuse to abandon the process.

“They desperately wanted to exit the talks and have now escaped even before the agreed timeframe. The responsibility lies with PTI,” he remarked.

Muhammad Yunus Criticizes Sheikh Hasina’s Economic Growth as “Fake”

Call for Unity Among Political Parties

The adviser stressed the importance of dialogue in strengthening democracy and resolving political disputes. He urged all political parties, including PTI, to come together at the negotiating table.

Sanaullah accused PTI of obstructing resolution efforts both during their four-year tenure in government and now as the opposition. He warned that such behavior could render the party irrelevant in the political landscape.

Clarification on ‘Direct Channel’ Speculations

Rejecting claims that PTI abandoned talks due to the restoration of a “direct channel” with influential quarters, Sanaullah assured that no such window existed. “Any dialogue on political issues must occur between the government and opposition. Those they [PTI] are looking up to will not engage in political discussions,” he clarified.

He added that if PTI harbored any misconceptions, they would soon realize the reality.

Government’s Firm Stance on Protests

Sanaullah also ruled out the possibility of allowing PTI to march on Islamabad in protest again. “They have accepted Parliament after the elections, claimed opposition benches, and now want to enjoy privileges while simultaneously protesting. This will not be allowed,” he concluded.

The adviser reiterated that while the government remains open to dialogue, it would not compromise or yield to demands inconsistent with democratic principles.

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Muhammad Yunus Criticizes Sheikh Hasina’s Economic Growth as “Fake”

Muhammad Yunus, Nobel laureate and interim head of Bangladesh’s government, has criticized the economic growth achieved under ousted Prime Minister Sheikh Hasina. Yunus, 84, called the growth “fake” and accused the global community of ignoring allegations of corruption during her tenure.

Hasina, who ruled Bangladesh from 2009 until August 2024, fled to India following weeks of violent protests. She faces allegations of crimes against humanity, genocide, corruption, and money laundering. Dhaka has requested her extradition, but India has not yet responded.

While Hasina was credited with revitalizing Bangladesh’s garments industry and accelerating GDP growth to nearly 8% in 2017/18, Yunus questioned the sustainability and inclusiveness of this progress. Speaking at the World Economic Forum, Yunus accused Hasina of presenting misleading growth statistics to the global community.

Yunus Pushes for Inclusive Growth

Yunus emphasized the need for inclusive economic policies that reduce wealth inequality and improve the lives of the poorest citizens. Known as the “banker to the poor,” Yunus won the Nobel Peace Prize in 2006 for his work with Grameen Bank, which provided microloans to rural communities.

“For me, growth rates don’t matter as much as the quality of life for those at the bottom,” Yunus said. He criticized the concentration of wealth under Hasina’s leadership, claiming it did little to benefit marginalized populations. Yunus has promised to hold free elections by late 2025 or early 2026 but said he has no interest in running for office.

The interim government, led by Yunus, has gained support from student-led protests that grew into a nationwide movement. Protesters accused Hasina’s government of suppressing dissent and using excessive force, allegations her administration has denied.

Indian Mobile Devices Pose Cybersecurity Threat to Pakistan

Strained Bangladesh-India Relations

Relations between Bangladesh and India have deteriorated since Hasina sought refuge in New Delhi. Yunus has demanded her extradition so she can face trial for alleged crimes, including actions against protesters and political opponents.

Yunus expressed disappointment over the strained ties, describing India as a historically close partner. “Bangladesh-India relations should be the strongest possible,” he said, emphasizing the interconnected geography and shared history of the two nations.

He also referred to China as a reliable ally during this period of transition, highlighting Beijing’s long-term friendship with Bangladesh. However, Yunus reiterated the importance of restoring strong relations with India, saying the current tensions hurt him personally.

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Indian Mobile Devices Pose Cybersecurity Threat to Pakistan

Indian-made mobile phones and electronic devices, including iPhones, have been flagged as a major cybersecurity threat to Pakistan. The Cabinet Division issued a warning to federal ministries, divisions, and provincial authorities. Government sources highlight that Indian interference in Pakistan’s sensitive information infrastructure has raised serious concerns. Experts fear sensitive data could be accessed through fake websites and Apple-style portals designed to target Pakistani consumers.

The use of Indian-made products poses risks, including the possibility of malware, spyware, and other viruses being embedded in hardware and software. Officials warn that such devices could facilitate data theft and compromise Pakistan’s security. The Cabinet Division also mentioned potential tampering in the manufacturing process of these products, further increasing the cybersecurity risks.

Risks of Data Theft and Targeted Hacking

Indian devices may enable targeted cyber activities. Hackers could intercept data, impersonate Apple support agents, and gain access through fake emails and messages. Sources reveal that sensitive information could be stolen from consumers and government officials alike.

These cybersecurity risks are especially concerning due to ongoing geopolitical tensions with India. Experts stress that such vulnerabilities can compromise Pakistan’s digital infrastructure and critical information systems.

To mitigate these threats, the Cabinet Division advises consumers to buy Apple products only from certified resellers. Checking device seals at the time of purchase is also recommended.

Safety Measures for Consumers

The Cabinet Division has urged citizens to follow strict cybersecurity practices. It advises using end-to-end encrypted communication services, installing strong passwords, and updating devices only through official Apple channels. Additionally, consumers should install antivirus software to safeguard their devices.

Government officials are working on further measures to protect Pakistan’s cybersecurity. Citizens are encouraged to remain vigilant and report suspicious activities linked to fake websites or phishing attempts.

By raising awareness and adopting secure practices, Pakistan aims to reduce the risks posed by Indian-made devices.

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ICC Prosecutor Seeks Arrest of Taliban Leaders for Crimes

The International Criminal Court (ICC) is pushing for the arrest of senior Taliban leaders, accusing them of crimes against humanity for their systematic persecution of Afghan women and girls. ICC prosecutor Karim Khan has identified Taliban Supreme Leader Haibatullah Akhundzada and Chief Justice Abdul Hakim Haqqani as key figures responsible for enforcing oppressive policies since the Taliban’s return to power in 2021.

Grounds for Arrest

Karim Khan stated there is sufficient evidence to hold Akhundzada and Haqqani accountable for crimes against humanity based on gender persecution. He accused the leaders of orchestrating widespread oppression, including acts of torture, imprisonment, rape, enforced disappearances, and murder targeting women and girls.

The ICC is intervening due to the Taliban’s inability to prosecute these crimes. Judges at the court will now decide whether to issue arrest warrants for the two leaders.

Systematic Oppression

Since the Taliban reclaimed power in August 2021, Afghan women and girls have faced relentless restrictions under newly imposed “morality laws.” They have lost basic rights, including access to education, employment, and public spaces. Afghanistan is now the only country where girls are banned from attending secondary and higher education. An estimated 1.5 million girls have been deliberately deprived of schooling.

Women are also barred from parks, gyms, and beauty salons.

Read: Trump Halts Refugee Resettlement Program, Thousands Stranded

The Taliban’s Leadership

Haibatullah Akhundzada, who has led the Taliban since 2016, holds ultimate authority over the Islamic Emirate of Afghanistan. His rise to power followed years of involvement in Islamist movements, including fighting against Soviet forces in the 1980s.

Abdul Hakim Haqqani, a close associate of Taliban founder Mullah Omar, played a key role in negotiating with the U.S. during the 2020 peace talks. Both leaders are now at the center of the ICC’s allegations.

Global Response

The Taliban government has not yet commented on the ICC’s statement. Since regaining power, the Taliban has faced international criticism for its draconian policies. However, no foreign government has formally recognized its regime.

Human rights organizations have repeatedly condemned the Taliban’s treatment of women. The ICC’s move to pursue arrest warrants is seen as a critical step in holding the regime accountable for its actions.

A Call for Justice

The ICC’s decision reflects growing global concern over the plight of Afghan women and girls. If the court issues arrest warrants, it would mark a significant milestone in the fight against gender-based persecution in Afghanistan. The world awaits action to address the ongoing humanitarian crisis and to ensure justice for millions of Afghan women suffering under the Taliban’s rule.

Rohit Sharma’s Attendance at Champions Trophy Captains’

The upcoming ICC Champions Trophy in Pakistan and the UAE has sparked speculation over whether Indian captain Rohit Sharma will attend the traditional pre-tournament captains’ event in Karachi. The event, typically held in the host country, brings together all participating team captains to kick off the tournament.

BCCI Yet to Confirm

Scheduled for February 16 or 17 in Karachi, the captains’ meeting remains uncertain for Sharma. The Board of Control for Cricket in India (BCCI) has not confirmed his attendance. According to Cricinfo, the matter has not yet been added to the BCCI’s official agenda.

Devjeet Saikia, BCCI’s newly-appointed secretary, stated that no decision has been made. It is also unclear whether government approval will be required for Sharma’s potential visit to Pakistan.

Past Visits and Political Hurdles

No Indian player has visited Pakistan officially in recent years due to strained political relations between the two countries. However, in 2023, BCCI President Roger Binny and Vice President Rajiv Shukla traveled to Lahore at the invitation of the Pakistan Cricket Board (PCB) for an Asia Cup event.

India and Pakistan have not played a bilateral series since 2012, and the last Indian team visit to Pakistan occurred during the 2008 Asia Cup. Political tensions continue to cast a shadow over cricketing ties between the two nations.

Read: National Stadium Enclosures Renamed to Honor Afridi and Younis Khan

PCB’s Formal Request

The PCB has urged the ICC to ensure full participation in the captains’ event, including photoshoots and the opening ceremony. They emphasized that all captains should attend the event as part of tournament traditions.

The ICC is currently coordinating logistics and travel arrangements for the teams. However, past precedents show flexibility in such events. For example, during the 2024 T20 World Cup, co-hosted by the West Indies and the USA, the ICC opted for a non-traditional launch, using a lighting projection of captains on New York City’s Rockefeller Center.

Tournament Highlights and India’s Schedule

The Champions Trophy begins on February 19 and features matches in Lahore, Karachi, Rawalpindi, and Dubai. India’s group-stage games, including a potential semi-final and final, are scheduled in Dubai due to security concerns and political sensitivities.

Teams will have the option to play two warm-up matches before the tournament, depending on their arrival dates.

Future Implications

Rohit Sharma’s participation in the captains’ event could symbolize a step toward easing tensions in cricket diplomacy. However, with no confirmation yet, uncertainty looms. The decision will likely set a precedent for how future cricket events navigate the delicate India-Pakistan relationship.

As the Champions Trophy approaches, all eyes remain on the BCCI and its decision regarding Sharma’s potential visit to Karachi. This development could significantly impact the narrative surrounding India-Pakistan cricketing ties.

World Bank Commits $20 Billion to Pakistan’s Development

Prime Minister Shehbaz Sharif has welcomed the World Bank’s $20 billion commitment under the new Country Partnership Framework (CPF) for Pakistan. This strategic partnership focuses on sustainable development, private sector growth, and building human capital, promising to address the nation’s long-standing economic challenges.

Strengthening Pakistan-World Bank Relations

Speaking at a ceremony in Islamabad, PM Shehbaz highlighted the decades-long strong relationship between Pakistan and the World Bank. He commended the institution’s continued support for key reforms and infrastructure projects, particularly in hydropower generation and organisational reforms.

“Your support reflects the World Bank’s faith in Pakistan’s system, which is now undergoing significant structural changes that were long overdue,” the prime minister said.

Focus on Economic Transformation

The CPF aims to tackle critical areas, including energy sector reforms and revenue mobilisation. Shehbaz noted that the digitisation of the Federal Board of Revenue (FBR) is progressing rapidly, enhancing efficiency and transparency in the system.

A pilot project at Karachi Port has introduced faceless interaction between importers and customs officials, reducing corruption and streamlining processes. In conclusion the government plans to extend this initiative to other ports and airports across the country.

“This system will recover trillions of rupees in customs duties, inland revenues, and sales taxes in the coming months,” the prime minister stated. However these funds will be redirected to socioeconomic projects, poverty alleviation, and education.

Read: Imran Khan Ends Talks with Government Over Delays

Reforms Driving Change

Shehbaz emphasized that these reforms reflect Pakistan’s commitment to economic transformation. However “This vision addresses the humongous challenges we face today. It is a timely intervention for our economic recovery,” he added.

The World Bank’s Vice President for South Asia, Martin Raiser, attended the event, symbolizing the institution’s dedication to Pakistan’s development. Shehbaz expressed gratitude to Raiser, World Bank President Ajay Banga, and the team in Pakistan for their efforts.

Long-Term Impact

The CPF’s 10-year timeline demonstrates a long-term approach to Pakistan’s development. prioritizing human capital and private sector growth, it aims to create a sustainable economic framework that benefits all segments of society.

In closing, PM Shehbaz reiterated the significance of these reforms for Pakistan’s future. In conclusion addressing Raiser in German, he thanked him for his unwavering commitment to supporting Pakistan’s progress.

The partnership signals renewed optimism for Pakistan’s development trajectory and underscores the global community’s confidence in the nation’s reform agenda.

Stray Dog Problem Disrupts Karachi’s Jinnah Airport Operations

Karachi’s Jinnah International Airport is facing a growing stray dog issue, disrupting operations and raising safety concerns .Reports indicate that stray dogs are now roaming near critical passenger areas, including entrances, exits, and parking lots, creating chaos and frustration for travelers. The presence of these animals not only endangers passengers but also violates international aviation safety standards.

Escalating Problem in Passenger Zones

Initially, the stray dogs were confined to the tarmac and general aviation sections. However, their reach has expanded to passenger zones, where incidents of dogs attacking vehicles and causing disruptions have been reported. Airport officials confirm the situation worsens at night, as the parking lots become a refuge for these animals.

One official explained, “The internal parking lot has turned into a haven for stray dogs, creating major problems for both staff and passengers.”

Violation of Aviation Safety Standards

The presence of stray dogs on airport premises is a clear violation of international civil aviation safety protocols. Experts warn that these animals could jeopardize flight operations, as they may wander into restricted areas or onto runways. Passenger safety is also at risk, with reports of increasing incidents of vehicle attacks and general disturbances near the terminal.

The Karachi Airport Authority has sought assistance from Edhi officials to address the crisis, but efforts so far have failed to bring the situation under control.

Frustration Among Travelers

Passengers are growing increasingly frustrated with the lack of effective measures to tackle the stray dog problem. Many have expressed concern about the authorities’ negligence, demanding immediate action to restore order and safety at the airport.

Read: K-Electric Faces Scrutiny Over Load Shedding

District-Wide Campaign in Rawalpindi

While Karachi’s airport struggles with this issue, Rawalpindi has launched a city-wide campaign to address a surge in stray and rabid dogs. The district government recently culled 52 stray dogs in several areas, including Dhoke Haso, Pirwadhai, and Hazara Colony.

The operation was initiated following a sharp rise in dog bite incidents, with 64 cases reported in just one week. Deputy Commissioner Hassan Waqar Cheema issued orders to cull stray dogs within a week, involving the Civil Defence Department, municipal committees, and local police.

Residents have been warned to leash their pets or risk having them culled. Within 24 hours, uniformed volunteers and municipal staff successfully carried out operations in high-risk areas.

Urgent Action Needed

As Rawalpindi takes swift action to mitigate the problem, Karachi Airport officials face mounting pressure to address the stray dog crisis. Immediate and effective measures are essential to ensure the safety of passengers and prevent disruptions to airport operations.

Authorities must act decisively to restore safety and compliance with international standards, as the growing stray dog issue continues to affect airport services and frustrate travelers.

Oil Prices Stagnate Amid Tariff Uncertainty Under Trump Policies

Oil prices remain under pressure as uncertainty grows over the impact of U.S. President Donald Trump’s proposed tariffs and energy policies on global economic growth and oil demand. Despite recent losses, Brent crude futures edged up 18 cents to $79.18 per barrel, while U.S. West Texas Intermediate (WTI) rose 14 cents to $75.58. Analysts highlight the mixed market drivers that continue to stall significant price recovery.

Tariff Concerns Weigh on Demand

Trump’s aggressive tariff proposals have added to global market anxieties. The administration’s plans include 25% tariffs on Canada and Mexico, a 10% duty on China, and new tariffs against the European Union. Trump also threatened further sanctions on Russia if it fails to negotiate peace in Ukraine. Analysts warn that these trade measures could dampen global oil demand growth by slowing economic activity across key markets.

Priyanka Sachdeva, a senior market analyst at Phillip Nova, pointed out that the broader implications of such policies are causing mixed reactions in the oil markets. “Uncertainty around tariffs is undermining confidence and reducing momentum for crude price growth,” she said.

Read: FBR Chairman Admits Corruption in Department

U.S. Policies Signal Increased Supply

Trump’s pro-drilling stance has sparked expectations of higher U.S. crude production. On Monday, he declared a national energy emergency, granting authority to reduce environmental restrictions on energy projects. The move is expected to fast-track permits for new pipelines and transmission infrastructure, potentially increasing U.S. oil supply and exerting further pressure on prices.

Kelvin Wong, a senior market analyst at OANDA, explained the situation, saying, “The lack of clarity on trade tariff policies combined with higher U.S. crude production forecasts may lead to more volatility in oil prices.”

Rising U.S. Oil Inventories

Another factor holding back oil prices is the growth in U.S. crude inventories. Recent data from the American Petroleum Institute showed that crude stocks rose by 958,000 barrels in the week ending January 17. Gasoline and distillate inventories also climbed significantly, increasing by 3.23 million barrels and 1.88 million barrels, respectively.

The surge in inventories underscores the imbalance between supply and demand, creating downward pressure on oil prices in the short term.

Easing Geopolitical Risks

On a positive note, easing tensions in key oil-producing regions have reduced fears of supply disruptions. Geopolitical stress in Gaza, which previously heightened market concerns, has begun to subside. However, this has not been enough to offset the downward momentum caused by other factors.

Outlook for the Oil Market

With global markets grappling with trade uncertainties and increasing U.S. oil supply, analysts predict more choppy and cautious movement in oil prices. As investors await clearer policy direction from the Trump administration, the oil market is likely to remain volatile.

While geopolitical risks have eased, the combination of rising inventories and trade policy uncertainty keeps oil prices in check. Market participants will closely monitor upcoming developments to assess the long-term impact on global energy demand.

Samsung Unveils AI-Powered Galaxy S25 Smartphones

Samsung Electronics has unveiled its latest Galaxy S25 smartphones, powered by Qualcomm’s chips and Google’s advanced AI engine. The company aims to boost its market position with these AI-driven features, targeting premium users and countering competition from Apple and Chinese brands.

AI Features Set the Galaxy S25 Apart

The Galaxy S25 series integrates Google’s Gemini AI engine alongside Samsung’s enhanced voice assistant, Bixby. Together, these tools provide a personalized experience. Park Ji-sun, Samsung’s executive vice president, emphasized that Samsung is leading the industry in AI integration.

Notable features include the “Now Brief” service, which provides tailored recommendations based on user data. Stored directly on the phone for privacy, the service can display calendars, news updates, and even bedroom air quality. Users can perform multiple tasks with a single command, such as finding sports events and adding them to their calendars.

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Galaxy S25 Edge Teased

Samsung ended its launch event by teasing the Galaxy S25 Edge, a slimmer model set to debut in the first half of the year. The move appears to be a direct response to Apple’s anticipated slimmer iPhone launch.

Pricing and Hardware Upgrades

The Galaxy S25 series retains its price range from $799 to $1,299, offering premium features without a price hike. Samsung’s entire S25 lineup uses Qualcomm’s Snapdragon 8 Elite Mobile Platform, marking a departure from the company’s previous strategy of using both Exynos and Qualcomm chips.

The shift to Qualcomm chips represents a setback for Samsung’s in-house semiconductor division, which counts its mobile division as a key customer. However, sources suggest Samsung plans to reintroduce the Exynos chip in its foldable phone series later this year.

AI Integration: A Challenge and an Opportunity

While Samsung’s focus on AI features differentiates the S25, analysts remain skeptical about consumer adoption. Thomas Husson, an analyst at Forrester, stated that a single AI feature is unlikely to drive purchases but could enhance Samsung’s brand image.

Construction and Competition

The Galaxy S25 launch comes at a critical time for Samsung. The company faces declining sales in the foldable phone market and fierce competition from Chinese brands. According to Lim Su-jeong, associate director at Counterpoint, success in the S25 series is essential for Samsung as it navigates these challenges.

Future Prospects

Samsung’s commitment to innovation, highlighted by its focus on AI and hardware upgrades, reflects its strategy to regain momentum in the competitive smartphone market. With the Galaxy S25 series, Samsung is betting on advanced features and consumer trust to maintain its foothold against strong rivals like Apple.

National Stadium Enclosures Renamed to Honor Afridi and Younis Khan

The Pakistan Cricket Board (PCB) has announced a significant tribute to two cricketing legends, Shahid Afridi and Younis Khan, by renaming enclosures at Karachi’s National Bank Stadium in their honor. This move aims to celebrate their invaluable contributions to Pakistan cricket and inspire future generations.

Enclosures Named After Cricket Icons

The iconic Quaid enclosure will now bear Shahid Afridi’s name, while the Majid Khan enclosure will be renamed after Younis Khan. The decision reflects PCB’s commitment to honoring players who have shaped Pakistan’s cricketing legacy. Additionally, the Zaheer Abbas enclosure has been renamed the Nazar Mohammad enclosure. Each of these enclosures accommodates 1,050 spectators, adding historical significance to the venue.

Enhancing the Spectator Experience

To further improve the stadium, the PCB is making adjustments to the Hanif Mohammad and Fazal Mahmood enclosures. The board is also introducing two new VIP enclosures in the recently reconstructed building. These enhancements aim to provide fans with a world-class experience and elevate the stadium’s status.

Read: Saud Shakeel and Noman Ali Shine in ICC Rankings

Construction Progress

Construction at the National Bank Stadium is nearing completion. Three floors of the far-end building have been completed, and partition work on the top floor is in progress. The Prime Minister’s Office, located within the stadium, is almost ready, with final cleaning and touch-ups underway.

Two VVIP stands at ground level are also being prepared as part of the upgrades. Project Director Bilal Chohan confirmed that the new stadium building will be fully completed by January 31.

Upcoming Cricket Tournament

The stadium will soon host an exciting eight-team tournament featuring 15 matches between February 19 and March 9, 2025. Matches will take place across Pakistan in Karachi, Lahore, and Rawalpindi, as well as in Dubai.

Group A Teams:

Pakistan
India
New Zealand
Bangladesh

Group B Teams:

Afghanistan
South Africa
England
Australia

The opening match will see Pakistan facing New Zealand on February 19 in Karachi. The highly anticipated clash between Pakistan and India will take place on February 23 in Dubai, drawing global attention.

Honoring Legends and Building the Future

Renaming enclosures at the National Bank Stadium reflects PCB’s dedication to preserving cricket’s rich heritage. By honoring legends like Afridi and Younis Khan and upgrading facilities, PCB ensures that cricket fans have a memorable experience while celebrating the sport’s history. These developments signify a bright future for Pakistan cricket.

Trump Pressures Putin to End Ukraine War, Threatens Tougher

Former U.S. President Donald Trump has issued a stern warning to Russian President Vladimir Putin, urging him to end the ongoing war in Ukraine. Trump has threatened to impose new tariffs and harsher sanctions if Russia fails to pursue peace. His remarks on his platform, Truth Social, emphasized the urgency of a resolution, with Trump calling the conflict a “ridiculous war” and stressing that continued hostilities would worsen Russia’s economic troubles.

Trump’s Push for a Peace Deal

Trump has consistently stated he would negotiate a settlement to the conflict in Ukraine, which began in 2014 and escalated into a full-scale invasion in 2022. In a recent post, he reiterated his intent to bring the war to a close swiftly. “Settle now, and STOP this ridiculous War!” he wrote, adding that failure to reach an agreement would lead to high taxes, tariffs, and sanctions targeting Russian exports.

The proposed measures aim to push Moscow to negotiate while signaling Trump’s willingness to apply economic pressure. Experts believe these threats could further weaken Russia’s economy, which has been struggling under existing sanctions.

Russia’s Stance and Conditions

Putin has repeatedly expressed willingness to negotiate but insists Ukraine must recognize Russian territorial gains. Currently, Russia occupies about 20% of Ukraine’s territory, including four regions illegally annexed in 2022. Moscow also opposes Ukraine’s NATO membership, a key sticking point in peace negotiations.

While Kyiv remains firm on reclaiming its land, Ukrainian President Volodymyr Zelensky has hinted at temporarily ceding some occupied territories as part of a broader peace deal. Zelensky has also called for a robust peacekeeping force, including U.S. troops, to deter further Russian aggression.

U.S. Sanctions and Economic Implications

Trump’s threat of heightened sanctions adds to existing economic penalties on Russia. Since 2022, Russian imports to the U.S. have plummeted due to heavy restrictions. Key exports, such as phosphate-based fertilizers and platinum, could face additional hurdles under Trump’s proposed measures.

Kurt Volker, Trump’s former special representative for Ukraine, emphasized that stronger sanctions would increase pressure on Moscow. He noted that while current sanctions have impacted Russia, more stringent measures could deal a substantial blow to its economy.

Read: Trump Threatens New Tariffs on China and EU

Challenges in Achieving Peace

Despite Trump’s assertive stance, experts remain skeptical about the feasibility of a peace deal. Russia has shown little willingness to compromise, while Ukraine and its allies demand a resolution that ensures territorial integrity and lasting security.

In Moscow, some signals suggest a shift in tone. Prominent pro-Kremlin voices have begun advocating for “realistic” conditions to end the war, including halting fighting along the current frontlines. However, hardliners within Russia remain opposed to any concessions, further complicating potential negotiations.

The Road Ahead

As Trump’s rhetoric grows tougher, Ukraine continues to prioritize actions over promises. After 11 years of conflict and a history of broken peace deals, Ukrainians remain cautious about any potential settlement. While Trump’s position could shape future U.S. policies, the path to peace will require sustained international pressure and clear commitments from all parties involved.

For now, the focus remains on stopping the fighting and addressing the complex dynamics that fuel the war.

Imran Khan Ends Talks with Government Over Delays

Former Prime Minister Imran Khan has halted negotiations with the government, citing its failure to establish judicial commissions within the agreed timeline. Barrister Gohar Ali Khan, speaking after meeting Imran at Adiala Jail, confirmed the decision. Imran’s frustration stems from the government’s inability to fulfill its commitments, which were central to reducing political tensions.

Negotiations Break Down

Imran Khan, detained in Adiala Jail for over a year, had initially agreed to engage in talks with the government. However, after three unproductive sessions, he decided to withdraw. “The government’s failure to meet its promises leaves no basis for further discussions,” Barrister Gohar said, emphasizing Imran’s firm stance.

The talks, initiated in December, aimed to address political unrest and ongoing disputes between the Pakistan Tehreek-e-Insaf (PTI) and the ruling coalition. Despite three rounds of dialogue, no concrete progress was made, leading to escalating tensions.

PTI’s Demands

PTI presented specific demands during the negotiations. The party called for the formation of two judicial commissions to investigate the May 9 riots and November 2024 protests. They also demanded the release of political prisoners, including Imran Khan, and insisted the commissions be led by senior judges with proceedings open to the public and media.

These demands were part of PTI’s broader strategy to seek justice for the alleged mistreatment of its members and to shed light on key political events. However, the government’s delay in forming the commissions undermined the dialogue process.

Government’s Response

The government criticized PTI for its rigid stance. Rana Sanaullah, a senior government official, stated, “Negotiations are not binding decrees.” National Assembly Speaker Ayaz Sadiq also stressed the importance of compromise, suggesting that progress requires flexibility from both sides.

Despite acknowledging the need for dialogue, the government showed little urgency in addressing PTI’s demands. Officials argued that forming judicial commissions and releasing political prisoners required careful deliberation and adherence to legal procedures.

Read: Controversial PECA Amendments Spark Outrage

Key Stages of Negotiations

First Round

In late December, PTI called for Imran Khan’s release, freedom for political prisoners, and an inquiry into the crackdown on protests. The government encouraged open dialogue and proposed that both sides present detailed demands at the next meeting.

Second Round

On January 2, PTI escalated its demands, pressing for judicial commissions to investigate specific events and seeking the unconditional release of its members. While the government acknowledged these demands, no substantial progress was achieved.

Third Round

During the final round on January 9, PTI formally presented a charter of demands. The party reiterated its call for open judicial proceedings and assistance in securing bail for political prisoners. The government promised to respond within seven days but failed to act, prompting Imran Khan to terminate talks.

Moving Forward

Imran Khan’s decision to halt negotiations marks a significant setback for efforts to reduce political tensions. As the deadlock continues, both sides face mounting pressure to find a resolution that addresses public concerns while upholding democratic principles.

Controversial PECA Amendments Spark Outrage

The National Assembly has passed the PECA amendment bill, sparking widespread protests from journalists and opposition lawmakers. The bill introduces new regulations under Pakistan’s cybercrime laws, aiming to combat fake news and regulate social media. However, critics argue that it threatens freedom of expression and press freedom.

Journalists and PTI Protest

Journalists staged a walkout from the press gallery, while PTI lawmakers exited earlier, protesting party founder Imran Khan’s incarceration. Opposition lawmakers, including Jamiat Ulema-i-Islam Fazl, also opposed the bill. The amendment was presented by Federal Minister for Industries and Production Rana Tanveer Hussain, despite criticism over the lack of consultation with stakeholders.

Key Provisions of the Amendment

The Prevention of Electronic Crimes (Amendment) Bill, 2025, introduces stringent penalties for disseminating “fake news.” A new section, 26(A), proposes up to three years of imprisonment or a fine of Rs. 2 million for sharing false information that causes panic or unrest.

The bill also establishes the Social Media Protection and Regulatory Authority to oversee content on digital platforms. This body can block or remove content deemed offensive, anti-state, or false. It can also require social media platforms to register and comply with regulations. Additionally, a Social Media Complaint Council will address grievances and ensure compliance with the law.

Backlash from Journalists

Journalists’ organizations, including the Pakistan Federal Union of Journalists (PFUJ), condemned the amendments. In a joint statement, they called the law an attack on press freedom. They criticized the lack of consultation and warned that the bill could suppress media voices, especially on social media.

PFUJ leaders described PECA as a “black law” designed to curtail dissent. They urged the government to withdraw the amendments, warning of nationwide protests if the law is implemented.

Read: IMF Recommends Mini-Budget, Pakistan Opts for Alternative Measures

Digital Rights Activists Raise Concerns

Digital rights activists have also expressed alarm. They argue that the law’s vague definitions of fake news and disinformation could lead to misuse. Nighat Dad, a human rights lawyer, criticized the lack of transparency during the drafting process. She highlighted the broad powers granted to authorities and questioned the bill’s ambiguous parameters for identifying fake content.

Usama Khilji, director of digital rights group Bolo Bhi, called the amendments a step toward authoritarianism. He warned that criminalizing disinformation would have a chilling effect on free speech, making journalists and social media users vulnerable to persecution.

Government’s Defense

Information Minister Attaullah Tarar defended the bill, stating it aims to regulate digital media and protect against child pornography and deepfakes. He clarified that the amendments would not target registered journalists. Tarar argued that digital media lacks regulation and accountability, creating a parallel economy without editorial oversight.

He assured journalists that the government is open to dialogue and consultation to address their concerns. Tarar also emphasized the need for transparency and accountability in digital media.

The Road Ahead

As criticism mounts, the government faces growing pressure to reconsider the PECA amendments. Journalists, activists, and opposition parties are united in their demand for safeguards to ensure the law does not undermine fundamental rights.

Philippines Bans Poultry from South Dakota Amid Bird Flu

Manila: The Philippines has taken immediate action to protect its poultry industry from the spread of bird flu. On Thursday, the Philippine Department of Agriculture issued a temporary ban on the import of birds and poultry products from the U.S. state of South Dakota. This decision follows the outbreak of avian influenza in the state.

Bird Flu Outbreak in South Dakota

The Philippine Department of Agriculture (DA) announced that South Dakota reported an outbreak of highly pathogenic avian influenza (HPAI) H5N1 on December 17, 2024. This strain of bird flu is highly contagious and dangerous to both wild and domestic bird populations. Due to this, the Philippines moved quickly to prevent the disease from entering the country. The ban covers the import of domestic and wild birds, as well as poultry products such as chicken meat, chicks, and eggs from South Dakota.

Immediate Actions to Prevent Spread

Agriculture Secretary Francisco T. Laurel issued an order to stop the import of birds and poultry products from the affected region. He also instructed the Bureau of Animal Industry (BAI) to halt the processing of sanitary and phytosanitary import clearances for shipments coming from South Dakota. The order ensures that no new shipments from the state will enter the Philippines until further notice.

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Exceptions for Current Shipments

The Philippine government clarified that shipments already in transit or at the port will be allowed, as long as the poultry products or birds were processed or slaughtered on or before November 23, 2024. This exception is aimed at preventing unnecessary disruptions to existing trade while still ensuring that no potentially infected products enter the country.

Global Bird Flu Concerns

The H5N1 strain of avian influenza is a major concern globally. It primarily spreads among wild waterfowl but can also infect domestic poultry and other animal species. The Philippines’ quick response highlights the country’s efforts to protect its local poultry industry, which is a vital part of its agricultural economy.

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K-Electric Faces Scrutiny Over Load Shedding

The National Assembly has revealed that high line losses and rampant electricity theft are the primary causes of prolonged load shedding in Karachi. Areas with 25-30% losses experience up to 6 hours of load shedding daily, while those with more than 30% losses suffer up to 10 hours.

The government has claimed that the winter energy package has yielded positive results, leading to increased electricity consumption. However, members of the National Assembly, particularly those from Sindh, have expressed concerns about the ongoing power crisis and have criticized K-Electric for its performance.

K-Electric Under Fire

K-Electric, the primary electricity supplier in Karachi, has come under fire for its inability to provide a stable power supply. The company has been accused of failing to address the issue of line losses and theft, leading to prolonged power outages in many areas.

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Unequal Distribution of Power

The data presented shows a stark contrast between areas like Defence, Gulshan, and Bahadurabad, which enjoy almost uninterrupted power supply, and areas like Lyari, Gadap, and Orangi, which face frequent and prolonged outages. This disparity is attributed to high line losses and electricity theft in the latter areas.

The National Assembly has called for a meeting to address the complaints against K-Electric and to find a solution to the ongoing power crisis in Karachi. The government has been urged to take immediate steps to reduce line losses, curb electricity theft, and ensure a fair distribution of power across the city.

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Govt Assures Safeguards in Proposed Peca Amendments

The federal government has addressed concerns over the proposed amendments to the Prevention of Electronic Crimes Act 2016 (Peca), assuring that the law will not be misused and that due process will be followed. Prime Minister’s Coordinator Rana Ihsaan Afzal stressed the importance of debate and fine-tuning the contentious legislation.

Key Amendments to Peca

The government has tabled the Prevention of Electronic Crimes (Amendment) Act, 2025, which introduces significant changes to the law. These include:

Reducing the jail term for spreading false information from seven years to three years.
Imposing fines up to Rs2 million or a combination of both penalties.
Establishing the Social Media Protection and Regulatory Authority (SMPRA), empowered to block or remove harmful online content.
Introducing the National Cyber Crime Investigation Agency (NCCIA) and the Social Media Protection Tribunal.

The amendments define stricter penalties for individuals who intentionally spread misinformation likely to cause panic or unrest. SMPRA would oversee social media platforms and handle complaints from individuals affected by fake information, issuing decisions within 24 hours.

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Government Defends Reforms

Rana Ihsaan Afzal emphasized that the misuse of social media is a widespread issue affecting countless individuals. He argued that updating Peca is essential to protect citizens from misinformation and libel.

He noted that the Federal Investigation Agency (FIA) has struggled to address complaints effectively, necessitating the establishment of a dedicated regulatory authority. “Excessive misinformation violates people’s rights. Should we allow this violation to continue?” he questioned.

The coordinator assured that the proposed authority will develop its own terms of reference (TORs), rules, and key performance indicators (KPIs) to ensure proper implementation.

Addressing Stakeholder Concerns

Afzal rejected claims of a hurried legislative process, stating that consultations with stakeholders were conducted in phases. He acknowledged the broad scope of misinformation but promised further refinement of the authority’s framework once established.

He also dismissed the perception that the issue is politically motivated, emphasizing the need to combat the misuse of social media advancements, including artificial intelligence (AI), which has exacerbated misinformation.

The proposed amendments aim to address structural weaknesses in handling cybercrimes while ensuring that the law serves its purpose without infringing on individual rights.

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Trump Ramps Up Immigration Crackdown

President Donald Trump announced the deployment of 1,500 additional US troops to the Mexican border on Wednesday, intensifying efforts to curb illegal immigration. This move adds to the 2,000 troops already stationed at the border as part of his administration’s hardline stance against migration. Additionally, Trump halted refugee arrivals cleared for entry, signaling stricter immigration policies in his second term.

Crackdown on Diversity and Equity Programs

In a controversial move, Trump targeted diversity, equity, and inclusion (DEI) initiatives, ordering federal employees in such programs to be placed on paid leave. Government websites and social media accounts promoting DEI were also shut down. Trump revoked affirmative action measures in federal contracts, labeling them as “radical,” and ended policies dating back to the civil rights era.

Tensions and Appointments

Trump’s return to the presidency has seen both bold actions and emerging conflicts. While appointing key allies like fast food executive Andrew Puzder as US ambassador to the EU and his bodyguard Sean Curran as the new Secret Service director, tensions arose with Elon Musk, a close advisor. Musk publicly criticized an AI investment project championed by Trump, showcasing cracks in their alliance.

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Polarizing Actions and Rhetoric

Trump’s divisive rhetoric remains central to his leadership. During an interview, he called Democrats “stupid” and accused them of election fraud. One of his first acts in office was pardoning over 1,000 supporters involved in the January 6 Capitol attack. Meanwhile, a clash with Bishop Mariann Edgar Budde at the National Cathedral over his policies on migrants and LGBTQ rights highlighted ongoing controversies.

As Trump accelerates his agenda, his measures on immigration and DEI programs are sparking sharp debates across the political spectrum.

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New Hughes Fire Forces 31,000 Evacuations North of Los Angeles

CASTAIC: A wildfire dubbed the Hughes Fire erupted north of Los Angeles on Wednesday, rapidly scorching over 9,400 acres (38 square km) of dry brush. Strong winds propelled the flames, prompting mandatory evacuations for more than 31,000 residents in the Castaic Lake area. Officials have warned of an “immediate threat to life” as the fire continues to spread.

Southern California on High Alert

The Hughes Fire comes as much of Southern California remains under a red-flag warning for extreme fire risk. With the region enduring nine months without significant rain, conditions have turned hazardous. Los Angeles County Sheriff Robert Luna reported that another 23,000 people face evacuation warnings.

In response to the crisis, 1,100 firefighters were deployed preemptively, and more than 4,000 are actively battling the Hughes Fire. Los Angeles County Fire Chief Anthony Marrone highlighted efforts to suppress the blaze, including aerial water drops and fire retardant sprays.

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Interstate 5, a major north-south highway, was temporarily closed in the Grapevine area due to poor visibility from smoke. Although it has since reopened, the fire’s intensity underscores the region’s vulnerability. The Angeles National Forest has closed its entire 700,000-acre park to visitors to ensure public safety.

Ongoing Wildfire Crisis

While firefighters gained control over two earlier deadly wildfires — the Eaton Fire (91% contained) and the Palisades Fire (68% contained) — the Hughes Fire is straining resources. Since January 7, the Eaton and Palisades fires have scorched nearly 38,000 acres combined, claimed 28 lives, and destroyed almost 16,000 structures.

Hope for Rain Relief

Though Southern California braces for more challenges, forecasters predict rain from Saturday through Monday, potentially providing much-needed relief for firefighters.

The economic toll of this wildfire season is staggering, with private forecaster AccuWeather estimating damages and losses exceeding $250 billion.

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UN Confirms West Bank as Part of Palestinian Territory

The United Nations has reaffirmed that the West Bank is part of the occupied Palestinian territories. UN spokesperson Farhan Haq stated this in response to comments from the nominee for the U.S. ambassador to the UN. Haq emphasized that the status of the West Bank, Gaza, and other Palestinian territories must be resolved through negotiations between Israeli and Palestinian authorities.

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NGOs Welcome Ceasefire and Call for Action

A coalition of 37 non-governmental organizations welcomed the ceasefire between Israel and Hamas. The group issued a joint statement urging both parties to fully adhere to the ceasefire terms. This includes the release of captives, the delivery of humanitarian aid to Gaza, and the protection of civilians.

The coalition, which includes organizations such as Action Against Hunger, Christian Aid, and the Danish Refugee Council, also demanded unrestricted humanitarian access and the safeguarding of civilian infrastructure.

Focus on Negotiations and Humanitarian Efforts

The UN’s stance underscores the importance of addressing the status of Palestinian territories through diplomatic negotiations. Meanwhile, humanitarian groups continue to stress the need for immediate relief and long-term solutions to protect vulnerable populations in Gaza and the West Bank.

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KSE-100 Index Declines Amid Economic, Regulatory Concerns

The Pakistan Stock Exchange (PSX) faced another tough session on Wednesday as the KSE-100 Index plummeted by 1,598.82 points, or 1.39%. The index closed at 113,443.43, reflecting weak investor confidence due to economic uncertainty and regulatory concerns.

During the session, the index reached an intraday high of 115,256.16 before falling to a low of 113,359.37. Analysts attributed the decline to the Tax Laws Amendment Bill 2024, rupee instability, and weak global crude oil prices.

Tax Reforms and Rupee Instability Weigh on Investors

The Tax Laws Amendment Bill 2024 has limited non-filers’ ability to purchase stocks beyond certain limits. This restriction dampened market sentiment and added to concerns about the government’s regulatory stance. Ahsan Mehanti, CEO of Arif Habib Commodities, noted that these regulatory changes, combined with political and economic uncertainty, triggered bearish activity.

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The rupee’s instability and ongoing uncertainty over government-PTI negotiations further eroded investor confidence. Weak global oil prices added pressure, impacting energy sector stocks.

Meanwhile, the government informed the National Assembly about plans to expand the tax base and tackle the undocumented economy. Minister of State for Finance Ali Pervaiz Malik said the reforms aim to increase tax compliance and streamline the Federal Board of Revenue (FBR). Prime Minister Shehbaz Sharif has approved a transformation plan for the FBR, signaling a major policy shift.

Foreign Investors Withdraw Amid Declining Yields

Foreign investors continued to pull funds from Pakistan’s Treasury bills (T-bills). Net outflows totaled $38.5 million in the first 10 days of January. While inflows reached $51.978 million, withdrawals amounted to $90.51 million.

The State Bank of Pakistan (SBP) recently reduced the policy rate by 200 basis points to 13%, its fifth consecutive cut in 2024. Total rate cuts for the year now stand at 900 basis points, leading to lower T-bill yields. This has reduced the appeal of Pakistan’s bonds for foreign investors, further pressuring the economy.

Market Awaits IMF Mission as Sentiment Weakens

Tuesday’s session also saw significant pressure, with the KSE-100 Index losing 803 points to close at 115,042.25. While the index managed to hold the critical 115,000-point level, Wednesday’s decline has added to investor concerns.

Market sentiment remains sensitive to macroeconomic developments, especially as the International Monetary Fund (IMF) mission prepares to visit Islamabad next month. Analysts predict that investor focus will stay on the government’s compliance with the Extended Fund Facility programme.

The combination of tax reforms, rupee instability, and declining foreign investments is keeping investors on edge. The PSX’s performance reflects growing concerns over the economy’s stability and the impact of regulatory measures.

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