What Happens if USD and PKR are Equal

What Happens if USD and PKR are Equal

Pakistan is a developing country with a volatile economy. The Pakistani rupee (PKR) is known for its fluctuating value against the US dollar (USD), which is the global reserve currency. The exchange rate between the two currencies has a significant impact on the country's economy, affecting everything from inflation to trade. But what would happen if USD and PKR were equal?

In a hypothetical scenario where the exchange rate between USD and PKR is 1:1, there would be both positive and negative consequences. On the one hand, it could boost Pakistan's economy by increasing foreign investment and exports. A stronger PKR would make Pakistani goods more affordable and attractive to foreign buyers, boosting demand and creating jobs in the manufacturing and service sectors.

Moreover, a stronger PKR could reduce Pakistan's import bills, as it would become cheaper to purchase foreign goods and raw materials. This could help address the country's trade deficit, which has been a major challenge for the Pakistani economy.

On the other hand, there could also be negative consequences of a stronger PKR. A stronger currency could make Pakistani exports more expensive, reducing demand from foreign buyers and hurting the country's export-oriented industries. Moreover, it could lead to a decrease in remittances from overseas Pakistanis, as their money would have less purchasing power in Pakistan.

Additionally, a stronger PKR could also lead to inflation, as it would make imported goods more affordable, increasing demand for them and potentially driving up prices. This could also lead to a decrease in domestic production, as it would become cheaper to import goods from other countries rather than produce them locally.

In conclusion, while the hypothetical scenario of USD and PKR being equal may seem unlikely, it's essential to consider the potential impacts of such an event on Pakistan's economy. While a stronger PKR could have some positive effects, there could also be negative consequences, and it's important for policymakers and businesses to be prepared for any eventuality. Ultimately, a stable and predictable exchange rate is essential for Pakistan's long-term economic growth and stability.

In summary, a hypothetical situation where USD and PKR are equal could have both positive and negative impacts on Pakistan's economy. While a stronger PKR could boost exports and reduce import bills, it could also lead to inflation and hurt export-oriented industries. It's crucial for policymakers and businesses to be prepared for any eventuality and work towards a stable and predictable exchange rate to promote long-term economic growth and stability.

Imran Khan disqualified in Toshakhana reference

 

Imran Khan disqualified in Toshakhana reference

Islamabad, Pakistan – Pakistan’s election commission, in a unanimous decision, has found former Prime Minister Imran Khan guilty of “corrupt practices” and disqualified him from being a member of parliament.

Khan’s Pakistan Tehreek-e-Insaf (PTI) party immediately rejected Friday’s ruling, challenging the commission’s jurisdiction of delivering such a verdict. It said it would file an appeal to the Islamabad High Court and called on supporters to take to the streets.

The case against Khan was filed in August by a member of the Pakistan Muslim League Nawaz (PMLN), contending that the former prime minister had bought gifts given by foreign dignitaries from the state gift depository (also called Toshakhana) but did not disclose the assets in the declarations submitted to the commission.

Pakistan is Ready to Buy Russian oil at Same Rate India is Purchasing: Ishaq Dar says

 Ready to Buy Russian oil at Same Rate India is Purchasing: Ishaq Dar says

Ready to Buy Russian oil at Same Rate India is Purchasing: Ishaq Dar says

can pakistan buy oil from russia

Ishaq dar has hinted at buying Petrol from Russian oil on the condition that Russia provides Petrol at the same rate as it is giving to India.

He further said West should not be having a problem if Pakistan imports oil at a cheap rate due to the Financial hardship Pakistan is suffering.

To a question about Politics, he said, “08 months are enough for the government to restore its political prestige and win popularity.”

As per reports, Russia is already trying to secure long-term cut-rate contracts with countries at discounts of 30 percent or more, for their concern over the price cap,” the sources maintained.

The policy intends, sources said, to encourage oil trade, not deter it, including Russian oil at lower prices. In this regard, if importers and refineries want to avail necessary services including insurance, brokering, bunkering etc. from any of the coalition country members, they must purchase the seaborne Russian oil at a price at or below the set price cap. The U.S. and majority of G-7 countries have banned the import of Russian oil and will not be buying oil made available by the price cap.

In terms of compliance a record-keeping and attestation model will be followed by US Treasury’s Office of Financial Asset Control (OFAC) to track whether oil transactions below the price ceiling. OFAC will also advise about red flags for sanctions and price cap evasions to maritime and other relevant departments of the importing entity.

The sources maintained that proposed incentives to developing countries include:(i) buy Russian seaborne crude oil and petroleum products at a lower price;and (ii) address inflation and lower energy costs in their country.

The “price cap” has not yet been decided, and will be set by international consensus with countries that agree to implement the services ban and price cap exception.

The sources further stated that the U.S. side has conveyed that a country may partner with the coalition to cap the price of Russian oil to limit Russia’s revenues. U.S. has conveyed that a country may decide not to join the coalition but still benefit from purchasing the Russian seaborne oil at a lower price set by the coalition.

Ministry of Foreign Affairs, sources said, has also sought some clarifications from the U.S Embassy in Islamabad on this issue. On MoFA’s inquiry whether a long-term cut-rate contract may be established by a country to purchase Russian oil before a price cap has been established, the U.S. side did not appear to have any strict objections on the matter.

The sources said, MOFA has requested Ministry of Energy to facilitate meeting with U.S Embassy officials on this issue and also seek clarification inquiry whether a long-term cut-rate contract may be established by a country to purchase Russian oil before a price cap has been established.

The world's largest camera is 3200 megapixels and is powerful enough to spot a golf ball from 15 miles away,

 

What happened: Astronomers have unveiled the world's biggest digital camera, which is able to capture the broadest-ever images of the universe. The photos released by Energy's SLAC National Accelerator Laboratory in Menlo Park displayed the Large Synoptic Survey Telescope. 

Details: The world's largest camera is 3200 megapixels and is powerful enough to spot a golf ball from 15 miles away, and has a lens diameter of more than five feet. Once the world's largest camera is finished, "it will click digital images of the entire Southern sky every few nights from the Rubin Observatory atop a mountain in Chile called Cerro Pachon." At the same time, the camera weighs near three thousand kilograms and has 189 sensors, known as CCDs. 

Report by: News Desk 

#Propergaanda #Gaanda #SiyasiGaanda #LargestCamera #Camera #SUV

Why Pakistan ‘one of the most dangerous nations’, Joe Biden says, then explains why

Why Pakistan ‘one of theg most dangerous nations’, Joe Biden says, then explains why

Why US President Joe Biden On Pakistan: US President Joe Biden called "Pakistan one of the most dangerous nations in the world."

"The world is changing rapidly, so much so that it is beyond control, not because of any one single individual or one nation though, US President Joe Biden said, assertively, at a Democratic congressional campaign committee reception on Friday while talking about the Russia's invasion of Ukraine and its impact on the world as well as US' relationship with other countries."

United States President Joe Biden deemed Pakistan one of the most dangerous nations in the world. The White House statement quoted the president's address at the Democratic Congressional Campaign Committee Reception on Friday.

Biden said, "What I think is maybe one of the most dangerous nations in the world, Pakistan. Nuclear weapons without any cohesion."

The US president made the comments at the reception while talking about the ongoing Russia-Ukraine conflict and how it has impacted the globe. He also spoke about Washington's ties with other countries.

It is pertinent to note here that Biden's comment surfaced almost three weeks since the US and Pakistan materialised a defence deal on the F-16 fleet. On September 26, US State Secretary Antony Blinken said it was Washington's responsibility and obligation to help provide military supplies 'to whoever' required them for military sustenance.

"To be very clear, this is a sustainment programme for F-16s that Pakistan has long had. These are old planes and systems that they already have. We have a responsibility and obligation to whoever we provide military supplies to maintain and sustain them. Pakistan’s programme bolsters its capability to fight terror and terrorist threats emanating from Pakistan or from the region," Blinken had said.

In his 2020 presidential campaign, Joe Biden promised to forgive $10,000 of student loan debt for everyone, along with some complicated additional forgiveness plans for low-income borrowers and those who attended public colleges. On Wednesday, he finally made good on the promise, announcing a loan forgiveness plan meant to relieve some of the crushing $1.6 trillion in student debt Americans are carrying.

Here’s what the administration will do:

(1) What we know about Elon Musk’s $100 "Burnt Hair" perfume & speceX programs

(2) Afghan insurgent leader calls for new anti-Taliban 'political' front

 What we know about Elon Musk’s $100 "Burnt Hair" perfume & speceX programs

Elon Musk has claimed to have sold 20,000 bottles of his $100 perfume after launching the bizarre “Burnt Hair” scent.

The concept for a perfume allegedly inspired by the smell of burnt hair appeared to come to the Tesla CEO and world’s richest man in September, when he first tweeted: “‘Burnt Hair’ - Scent for Men by Singed.”

While the perfume may have started as a joke, Musk appears to have taken his latest product launch seriously, with the 51 year old updating his Twitter bio to read: “Perfume Salesman.”

The fragrance is available for purchase on any online store.The Boring Company website, where it is described as “the essence of repugnant desire”. According to the website, the perfume will ship in “Q1 2023”.

“when you just like leaning over a candle at the dinner table, but without all the hard work,” one unattributed quote on the website reads, while another says: “Stand out in a crowd! Get noticed as you walk through the airport.”

Why would you wear Elon Musk’s Burnt Hair musk & perfume?

WhenEver fancied smelling like scorched keratin? Weird, but you’re the target demographic for Elon Musk’s latest product innovation: Burnt Hair cologne. Yes, you can buy it.

The fragrance is the realization of a tweet Musk made back in September and is being sold through Musk’s The Boring Company, which you might recall has sold other novelty items in the past, such as the Not-A-Flamethrower. The advertising imagery shows a red bottle with a ruby-like gemstone on top. It’s not the most imaginative design if you’ve grown up with cheap, celebrity-endorsed perfumes, but then a receptacle for the scent of burnt follicles doesn’t deserve to be elegant.

At $100, Burnt Hair hardly fits into the category of ‘cheap’ but neither the questionable name nor the lofty price tag are enough to deter Musk’s dedicated fanbase: over 10,000 bottles of the stuff have been sold as of the time of writing, according to Musk. That’s a million dollars… so far.

Biden pays respects to Elizabeth as Britain gets ready for funeral

 

First Lady Jill Biden looks on as US President Joe Biden signs a book of condolence at Lancaster House, London, on Sunday.—AFP

LONDON: President Joe Biden of the United States paid tribute to Queen Elizabeth on Sunday as Britain geared up for giving a befitting farewell to the country’s longest-reigning monarch, who died on Sept 8 aged 96.

Biden praised her dignity and dedication to service after he appeared at the queen’s lying-in-state in Westminster.

Biden is among the scores of dignitaries and royals from across Europe, Asia, Africa and the Americas who will attend Monday’s funeral.

Hundreds of thousands of people have descended on London to pay tribute to Queen Elizabeth, who ascended the throne in 1952.

"She was the same in person as her image: decent, honourable and all about service,” Biden said after he signed a book of condolence. “Our hearts go out to the royal family.”

PM Shehbaz condoles with King Charles over queen’s demise

Biden earlier appeared on a balcony overlooking the queen’s coffin in the vast Westminster Hall, making a sign of the cross and briefly placing his hand on his heart in reverence.

Elizabeth’s body has been lying in state since Wednesday and people from all walks of life and from around the country and overseas have queued for hours to file past her coffin in a constant, emotional stream.

The US president joined King Charles and other leaders from around the globe for a reception on Sunday evening ahead of the grand state funeral.

Joe Biden was one of the 14 US presidents in office during the queen’s 70-year reign, of which Elizabeth met all except Lyndon Johnson, starting with Harry Truman in 1951 when she was still a princess.

He will join presidents, prime ministers, kings, queens and sultans representing nearly 200 countries and territories at the funeral.

French President Emmanuel Macron was seen walking near the River Thames earlier on Sunday, mingling with those gathered in the streets around parliament.

Liz Truss, who the queen appointed as Britain’s prime minister just two days before her death, took the opportunity to meet leaders from Australia, New Zealand, Ireland, Canada and Poland over the weekend.

Saudi Arabia’s Crown Prince Mohammed bin Salman, however, is no longer expected to attend, according to a British government source. Inviting the man Western leaders suspect ordered the murder in 2018 of Saudi journalist Jamal Khashoggi had been controversial. He has denied any role in the killing. The change was made by Saudi Arabia, the source added.

Prince Andrew, the queen’s second son, paid tribute to “Mummy, Mother, Your Majesty” on Sunday, reflecting the roles he said Elizabeth fulfilled during her reign.

“Mummy, your love for a son, your compassion, your care, your confidence, I will treasure forever,” he said. —Reuters

Our Correspondent in London adds: Prime Minister Shehbaz Sharif on Sunday met King Charles III during a reception hosted by the latter for the visiting dignitaries.

Extending condolences over the passing of his mother Queen Elizabeth II, the prime minister observed that the late monarch was a source of inspiration and strength for generations of Commonwealth citizens.

PM Sharif recalled that the people of Pakistan had fond memories of Her Majesty’s two visits to the country. The bond of affection between the royal family and the Pakistani nation had only strengthened with time, he added.

On behalf of the people and government of Pakistan, the prime minister conveyed best wishes to King Charles on his accession to the throne and expressed the hope that he would carry on the legacy of his mother in further strengthening friendship among Commonwealth nations. “The people of Pakistan hold His Majesty in high esteem and look forward to welcoming him in Pakistan at the earliest opportunity.”

The prime minister also thanked the British monarch for the royal family’s expression of sympathy and support in the wake of unprecedented floods.

Afghan insurgent leader calls for new anti-Taliban 'political' front

 Afghan insurgent leader calls for new anti-Taliban 'political' front

Afghan insurgent group leader Ahmad Massoud on Friday urged the diaspora to unite to find a “political” solution to end Taliban rule, describing his appeal as the beginning of a “new phase”

Massoud, who heads the National Resistance Front (NRF), an armed group waging an insurgency in Afghanistan's northern Panjshir Valley, said it was time to try to bring the Taliban back to the negotiating table.

“We want to unify the diaspora... and slowly expand the dialogue and reach to the point where we have a roadmap for the future of Afghanistan,” he told a conference in Vienna.

“We are in the very beginning of a new phase,” he said.

The Vienna conference brought together some 30 Taliban opponents, mostly living in exile.

Many groups recently formed outside Afghanistan were “not happy” with the current state of affairs inside the country, Massoud said, adding it was time to overcome differences and “heal the wounds”.

The Taliban's takeover after US-led forces withdrew last year has set back women's rights and created fertile ground for terrorist groups, he said.

Massoud is the son of legendary anti-Soviet and anti-Taliban fighter Ahmad Shah Massoud.

The elder Massoud, known as the Lion of Panjshir, was assassinated in 2001 by Al-Qaeda, two days before the September 11 attacks in the United States.

His son has since picked up the mantle against Taliban forces, repeatedly denouncing the Islamist regime as “illegitimate”.

NRF forces announced an offensive against the Taliban in May, and fighting has flared up again this month.

“Our aim has never been to strengthen the war but to end the war,” Massoud said, calling for international support at a time where global attention is focused on Ukraine.

On Tuesday the Taliban said their forces had killed at least 40 NRF fighters.

A day later, the Islamist group said they were “looking into” a video circulating on social media that the NRF says shows some of its fighters being executed.

“This is unacceptable, and this is against all international laws,” Massoud said.

Is America winning in Asia?

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In an earlier article in this space I wrote that President Joe Biden, having been distracted by the war in Ukraine, had finally turned his attention to Asia. But the way Biden’s Washington defined Asia excluded Pakistan. A great deal of attention was being given to India. The main reason for this was the growing competition between China and the United States — now the world’s two largest economies. Some analysts believe that even with a significant slowdown in the rate of growth of the Chinese economy, China will overtake the United States in terms of the size of its economy in a decade or two. Would this happen without an open conflict between the two nations? President Biden has said that “the United States won’t stand by and let China win the 21^st century.”

This sentiment was in line with the thinking of Thucydides, the Greek sage-historian who studied the conflict between Athens and Sparta and argued that conflict is inevitable when a rising power challenges the one that has been in command for a long time. The Harvard University political scientist Graham T Allison coined the term ‘Thucydides Trap’ in an article published in The Financial Times in 2012 to describe the likely conflict between a rising and an established power. He used the term to describe the growing tension between the United States and China and feared that America may go to war to prevent China from becoming the dominant world power.

According to Susannah Patton who researches Indo-Pacific strategy at the Lowy Institute in Sydney, Australia and is the director of the Asia Power Index, her data show that the United States leverage has declined in terms of regional power dynamics. Twenty years ago, 5 per cent of exports from Southeast Asia went to China and 16 per cent to the United States. By 2020, they were both around 15 per cent. China’s increasing economic dominance was shown by the trends in regional trade. It does around two and half times more volume in the region than the United States. China is now the largest trading partner of almost every Asian country. The situation would turn even more in favour of China when the enormous amount of investment it was making in what President Xi Jinping has called the Belt and Road Initiative or BRI. Two countri

Electricity import on agenda as Bilawal visits Iran today

ISLAMABAD:

Foreign Minister Bilawal Bhutto Zardari is scheduled to undertake a two-day visit to Iran from Tuesday (today) for talks on a range of issues, including electricity supply from the neighbouring country amid a severe energy crisis in the country.

This will be Bilawal’s first visit to Tehran as foreign minister. He is undertaking the visit at the invitation of Iranian Foreign Minister Dr Amir Abdollahian.

During the visit, the foreign minister will hold a detailed exchange of views with his Iranian counterpart on all areas of mutual interest, an official handout issued by the Foreign Office said on the eve of the visit.

During his stay in Tehran, he will also call on the Iranian president and meet other dignitaries. On Wednesday (tomorrow) the foreign minister will visit Mashhad, the Foreign Office statement added.

During the delegation-level talks, the two sides will review all facets of bilateral relations, including trade and economic ties, electricity supply from Iran, border sustenance markets, road and rail connectivity and facilitation of Zaireen.

Iran is currently supplying electricity to Gwadar and Pakistan is keen to further enhance that cooperation. The country is currently in the grip of energy shortages, causing long power outages.

But there was no mention of the Iran-Pakistan gas pipeline project that was signed during the Pakistan People Party’s (PPP) term between 2008 and 2013. Iran has completed work on its side of the border but Pakistan could not undertake the project, fearing the US economic sanctions.

Even the PTI government, which otherwise talked of pursuing an independent foreign policy, failed to pursue the pipeline project, which if completed, would significantly help address the gas shortage in Pakistan.

In the meantime, Foreign Minister Bilawal will also review regional security situation with particular focus on developments in Afghanistan and South Asia as well as combating Islamophobia.

Bilawal’s visit to Iran is part of regular high-level exchanges between the two countries. The last meeting between the two foreign ministers was held on the sidelines of the World Economic Forum (WEF) at Davos on 26 May.

“Pakistan and Iran enjoy close cooperative ties, based on shared geography, cultural affinities, and historic people-to-people linkages. These fraternal relations have been further strengthened through frequent high-level exchanges. The two countries are celebrating the 75th anniversary of the establishment of diplomatic relations in 2022,” according to the statement.

Despite the positive portrayal of ties in the official statement, relations between Pakistan and Iran have faced many challenges. The major challenge includes maintaining a delicate balance in ties between Iran and Saudi Arabia. But with Iran and Saudi Arabia trying to mend fences, this may make Pakistan’s problem less complicated.