Author: Faisal Shahnawaz

  • Dogecoin to Pak Rupee on June 27, 2022

    Dogecoin to Pak Rupee on June 27, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee 1(PKR) is Rs15.71 on June 27, 2022 at 10:38 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.14 at closing on June 26, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.08 on June 27, 2022 at 10:38 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on June 26, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    READ MORE: Dogecoin to Pak Rupee on June 26, 2022

  • Social media erases line of truth, lies: Khurram Dastagir

    Social media erases line of truth, lies: Khurram Dastagir

    KARACHI: Social media has erased the line between truth and lies, and this is in my view is extreme reporting.

    “Where facts, reality are manufactured but only if you have sufficient manpower and resource, you can alter reality,” said Federal Minister of Power Khurram Dastagir Khan at the keynote address on the second day of the two-day conference on ‘Extreme Reporting: Conflict and Peace in the Digital Age’ held at the Centre of Excellence in Journalism at the Institute of Business Administration (CEJ-IBA) on Sunday.

    “Extreme reporting is an endeavor that requires bravery and strength and courage. If you look at Pakistan’s history there have been courageous men and women who have tried to express the truth and they have suffered for it. For example, Journalists have been shot in broad daylight, kidnapped and what not.

    “But the media has failed to save the public from lies. It has put us in a difficult position. It might be an exaggeration to say so but this erasure of the line between truth and lies is endangering democracy worldwide. But in this country, where democracy is a one leaf plant, is crushed every so often. The media’s challenges are immense – almost the same as those as elected representatives because there are certain truths that cannot be said in this country and that is a fact. Just look at Balochistan…why are we not allowed to talk about its truth,” he added. 

    The federal minister touched upon the civil military relationship and how it impacts the economy, the 2018 elections, ownership of media outlets, evolving technology and what is the truth. He also recited a couplet by Allama Iqbal.

    Peace Award

    As the conference concluded, the CEJ-IBA recognized and awarded journalists with the Peace Journalism awards which were a part of the Peace Journalism Program held by the CEJ in collaboration with US Consulate Karachi.

    Mehreen Burney from Lok Sujag, PTV World reporter Tayyaba Nisar Khan, freelance journalist Afifa Nasarullah (Best Multimedia Story), Lok Sujag’s Kaleemullah received awards for their outstanding stories.

    Reporter Faiza Gillani received the Best Acknowledgement Award and Swat’s Asmat Ali Akhun of Daily Jehan got the Special Mention Award.

    Speaking at the award ceremony, US Consul General Mark Stroh said: “It has been a really fascinating couple of days. The US is supporting this Centre and training because we are committed to supporting journalists in Pakistan. We are proud to support this training programs at the CEJ-IBA. A strong professional press is important – especially in conflict – and it is through such trainings and conferences where journalists can play their role in shaping the discourse.”

    The day ended with dinner and a musical performance by The Sketches.

    The second day of the conference kicked off with a session on reporting from a conflict zone. The session was moderated by seasoned journalist Aamer Ahmed Khan. The panel included CNN’s Sophia Saifi, journalist and editor Raza Hamdani, WIONews bureau chief Anas Malick, TNN’s Khalida NAz and BBC’s Sahar Baloch.

    The panel discussed at length the dangers of reporting from a conflict zone and shared their personal experiences. They talked about the importance of safety trainings and mental health check ins.

    ‘Woman have to think about additional safety measures when reporting in conflict zones’, said Ms Saifi.

    “You are never prepared enough to be in a conflict zone, regardless of how well you know the region or how much you’ve studied or learnt over the years,” said Mr Malick.

    BBC Urdu correspondent Sahar Baloch agreed with Mr Malick and said that anything can happen in the field.

    Talking about the pressure from the desk while reporting in a conflict zone, Ms Baloch said that there is a style guide but “we are still told what to say. There is a lot of pressure. In print, it is easier as you can write it but on TV or on camera it is different. It sets a tone for your entire coverage. Also look at social media which does set another narrative. Each and every situation, however, is different,” she added.

    The second session of the day, ‘Beyond Conflict?’ was moderated by media personality and lawyer Ayesha Tammy Haq. She was joined on stage by journalist and researcher Iftikhar Firdous, author and communication specialist Shahzad Sharjeel, journalist and writer Umber Khairi and journalist Zia Ur Rehman on the panel.

    The panel discussed reporting in a post conflict world and the need for media houses to invest in their reporters.

    Talking about how the panel and participants were born in times of conflict and are products of conflict, Ms Khairi said that conflict is everywhere, the entire country is in conflict. “Yesterday at a session, we saw two politicians who had so much conflict in their tones and what they were talking about. I think it is important that when you look at conflict, you need to have some form of a reconciliation process as well.

    For journalist Zia Ur Rehman, he only remembers conflict. “I was born in Karachi, my entire upbringing – school and university, everything was and still is in conflict. I don’t think conflict has ended, I think it has transformed and has a new face,” he said.

    “If you look at Karachi, the conflict might look like its gone away but it has just been pushed into the background. The political, ethnic and sectarian conflict still exists but is not mainstream right now. We haven’t tried to understand or investigate why,” he added.

    The last session of the day was ‘Is The Future Now?’ which was moderated by Dawn.com’s editor and chief digital strategist, Jahanzaib Haque. He was joined on stage by policy analyst and editor of The Friday Times and Naya Daur Raza Rumi, Balochistan Voices’ Adnan Amir, TV producer and co-founder of The Current Mehmal Sarfaraz and the founder of The Centrum Media, Talha Ahad.

    “Digital media is not the future, it is the present. Legacy media is out. In less than a decade or so you will see less public trust in legacy media and their business sense as well. On the other hand, social media has its own issues and digital has its own issues,” said Rumi.

    For journalist and researcher Adnan Amir, when he started his career in journalism in Quetta, there was no space for him to contribute and mainstream media was not interested in covering Balochistan much.

    “So me and a few other journalists got together and started our own platform ‘Balochistan Voices’ to get the news out. It is in English so our news would be accessible to a wider audience. We focus on different stories. For example, we did a data journalism piece on highway deaths in Balochistan and found out that more people die on the highway than terrorism,” he said.

    This conference is a part of the Peace Journalism program, held by the CEJ in collaboration with US Consulate Karachi, that began in May 2021 and will conclude this month. The program included online workshops on peace and conflict reporting, mobile journalism, data journalism, social media & photojournalism. The program also offered a mentorship with senior journalists.

    Around 63 journalists from all over Pakistan were trained as a part of this program. The program was divided into trainings and mentorships. The theoretical, technical and optional trainings were conducted by journalists, editorial consultants, documentary filmmakers, editors and photojournalists including: Beena Sarwar, VOA Bureau Chief for Afghanistan & Pakistan Ayesha Tanzeem, Shahzad Sharjeel, Hina Ali and Independent Urdu’s Social Media Editor Saqib Tanveer, Shahzeb Ahmed Hashim, Director of the Pakistan Initiative at the Atlantic Council’s South Asia Center Uzair Younus, VICE World News South Asia Editor Sahar Habib Ghazi, Founder and CEO of The Centrum Media (TCM) Talha Ahad, US-based photojournalist Sally Ryan, and Khaula Jamil. 

    The participants of this program were mentored by senior journalists Shahzad Sharjeel, Lok Sujag’s Badar Alam, Beena Sarwar and Ayesha Tanzeem. Under the guidance of these mentors, the participants worked on their stories which were published on different media outlets and platforms.

    The published stories were then judged by a panel of judges, Umber Khairi, Former Producer BBC, Zeeshan Haider, Editor BBC Urdu and Raza Hamdani, Former Consultant Editor, The Independent.

  • Bitcoin to Pak Rupee on June 26, 2022

    Bitcoin to Pak Rupee on June 26, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs4,460,312.18 on June 26, 2022 at 11:59 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,466,659.53 at closing on June 25, 2022.

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  • Ripple to Pak Rupee on June 26, 2022

    Ripple to Pak Rupee on June 26, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs76.43 on June 26, 2022 at 11:56 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs76.22 at closing on June 25, 2022.

    The rate of Ripple in US Dollar (USD) is $0.37 on June 26, 2022 at 11:56 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.37 at closing on June 25, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on June 25, 2022

  • Dogecoin to Pak Rupee on June 26, 2022

    Dogecoin to Pak Rupee on June 26, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee 1(PKR) is Rs14.14 on June 26, 2022 at 11:52 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.25 at closing on June 25, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on June 26, 2022 at 11:52 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on June 25, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on June 25, 2022

  • Weekly Review: stocks to respond positively to IMF deal

    Weekly Review: stocks to respond positively to IMF deal

    KARACHI: Pakistan stocks likely respond positively during next week due to expected deal with International Monetary Fund (IMF) as the country has met almost all the requirement.

    Analysts at Arif Habib Limited believed clarity should emerge next week on certain economic policies which should aid sentiments at the bourse.

    “It seems Pakistan has met all requirements to enter into the IMF program to receive the $1 billion tranche,” they added.

    READ MORE: Pakistan stocks crash on super tax imposition

    Once the package comes through, other sources of foreign exchange reserves should also open up which should relieve some pressure on dwindling foreign exchange reserves.

    Chinese loan of $2.3 billion has already been rolled over and hence, it is expected that the market to be positive in the coming week.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2022) compared to Asia Pacific regional average of 11.8x while offering a dividend yield of around 9.6 per cent versus around 2.7 per cent offered by the region.

    The analysts said that the market commenced on a negative note this week over uncertainty over the IMF Program, whereby the index shed 300 points DoD. However, the sentiment turned positive when a Chinese consortium of banks signed a $2.3 billion loan facility agreement, and the Economic Coordination Committee (ECC) approved the second installment of Rs96 billion to the Independent Power Producers (IPPs) of the 2002 power policy.

    READ MORE: Pakistan stocks rally on Chinese loan facility

    Furthermore, the finance minister announced that an IMF deal is imminent which also helped boost investor sentiment.

    However, during the last trading session, the government announced a 10 per cent super tax on 13 major sectors as well as a 4 per cent additional levy on banks, which caused the market to spiral and hit an intra-day low of 40,555 points.

    In other news, SBP reserves decreased by $748 million to $8.24 billion which put further pressure on the Pakistan Rupee (PKR), which dipped to an all-time low of 211.93 to the dollar, however the announcement of the China deal helped the PKR recover some lost ground and close at 207.48 for the week.

    The market closed at 41,052 points, down by 1,089 points (down by 2.58 per cent) Week on Week (WoW).

    Sector-wise negative contributions came from i) Banks (296 points), ii) E&Ps (194 points), iii) Cement (194 points), iv) Fertilizer (120 points) and v) Textile Composite (61 points).

    READ MORE: Pakistan stocks shed 68 points on rupee depreciation

    Whereas, sectors which contributed positively were i) Tobacco (12 points), ii) Insurance (12 points), and iii) Paper & Board (8 points).

    Scrip-wise negative contributors were UBL (97 points), POL (88 points), ENGRO (83 points), LUCK (79 points) and HUBC (75 points). Meanwhile, scrip-wise positive contribution came from EFUG (20 points), KEL (18 points), KAPCO (13 points), PAKT (12 points) and PKGS (8 points).

    READ MORE: Pakistan stocks gain 749 points on hopes of IMF program

    Foreign selling was witnessed this week, clocking in at $ 2.39 million compared to a net sell of $ 1.91 million last week. Major selling was witnessed in All Other Sector ($ 3.5 million) and Banks ($ 1.9 million). On the local front, buying was reported by Individual ($ 7.0 million) followed by Other Organization ($ 3.4 million). Average volumes clocked in at 301 million shares (up by 73 per cent WoW) while average value traded settled at $ 44 million (up by 72 per cent WoW).

    READ MORE: Rupee slips to new low at Rs211.93 against dollar

  • Bitcoin to Pak Rupee on June 25, 2022

    Bitcoin to Pak Rupee on June 25, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs4,437,509.57 on June 25, 2022 at 11:51 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,422,847.08 at closing on June 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $21,293.23 on June 25, 2022 at 11:51 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $21,046.14 at closing on June 24, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    READ MORE: Bitcoin to Pak Rupee on June 24, 2022

  • Ripple to Pak Rupee on June 25, 2022

    Ripple to Pak Rupee on June 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs76.89 on June 25, 2022 at 11:45 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs77.15 at closing on June 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.37 on June 25, 2022 at 11:45 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.37 at closing on June 24, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    READ MORE: Ripple to Pak Rupee on June 24, 2022

  • Dogecoin to Pak Rupee on June 25, 2022

    Dogecoin to Pak Rupee on June 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee 1(PKR) is Rs14.20 on June 25, 2022 at 11:40 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.61 at closing on June 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on June 25, 2022 at 11:40 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on June 24, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    READ MORE: Dogecoin to Pak Rupee on June 24, 2022

  • Committee recommends lifting import ban on luxury items

    Committee recommends lifting import ban on luxury items

    A high-level committee of Pakistan’s leading businessmen, tasked with reviewing budget anomalies, has formally recommended lifting the ban on the import of luxury items.

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