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ARY NEWS

Anjum Wahab

  • Government imposes ban on export of onion

    Government imposes ban on export of onion

    ISLAMABAD: The Ministry of National Food Security and Research has notified a ban on export of onions until May 31, reported ARY News.

    “The Economic Coordination Committee (ECC) of the cabinet considered the summary dated 19th February, 2020 submitted by the Ministry of National Food Security and Research and approved Impose of ban on Export of Onion with immediate effect till 31th May, 2020,” read a notification.

    Export of tonnes of onions arrived at the Karachi port prior to the issuance of the notification hangs in the balance as vegetable and fruit exporters have called on the authorities concerned to allow their export.

    Read More: No ban on export of tomatoes, potatoes imposed

    The All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association’s (PFVA) Waheed Ahmed said as many as 170 containers full of onions are lying at the port which were to be loaded onto a ship slated to leave Monday.

    Denying permission to export this consignment would incur a loss of $2 million, he said.

    Read More: Onion Diplomacy: Pakistan to export onions to Bangladesh after 15 years

    Earlier, on Feb 10, the Economic Coordination Committee (ECC) had imposed immediate a ban on export of sugar.

    The decision came during a meeting fo the ECC chaired by Adviser to the Prime Minister on Finance Sheikh Abdul Hafeez.

    The meeting observed that adequate stocks of sugar are available in the country but prices in both domestic and international market are showing an upward trend.

  • PSX weekly review shows decrease of 2,265 points

    PSX weekly review shows decrease of 2,265 points

    KARACHI: The Pakistan Stock Exchange (PSX) mostly witnessed bearish trend throughout the week and lost 2,265 points during the trading, ARY News reported on Saturday.

    The stocks expert say due to outbreak of coronavirus in several countries of the world and detection of two of the cases in Pakistan is shaking confidence of the traders.

    The 100-Index failed to maintain level of 38,000 points and was closed at the level of 37,983 points during the trading week which begun on Monday and ended on Friday.

    According to the weekly report, 86 crores shares worth 37 billion rupees were traded during the week and the market capitalization witnessed decreases of Rs 436 billion last week and was recorded at Rs7,094 billion.

    Read more: PSX witnesses bearish trend as index loses 101 points

    In previous week, the market kept struggling for sustainability when confusion and uncertainty surrounded investors when the IMF, in its concluding remarks affirmed that Pakistan had been successful in completing the “structural benchmarks” as well as in meeting “all end-December performance criteria” which had been set for the implementation of $6 billion Extended Fund Facility programme.

  • Coronavirus threat: PSX loses 1,002 points

    Coronavirus threat: PSX loses 1,002 points

    KARACHI: The bench mark 100-index of the Pakistan Stock Exchange (PSX) on Thursday plunged 1,002 points at the start of the trading day, amid novel coronavirus threat, ARY News reported.

    The market continued to show bearish trend due to increasing threat of coronavirus outbreak and specially after detection of two cases in Pakistan, yesterday.

    The market is currently trading at the level of 37,336 points.

    Yesterday, the index which lost 667 points during the trading recovered bit and was closed at 38,338. points.

    A total of 147,943,160 shares were traded compared to the trade 124,348,120 shares during the previous day, whereas the value of shares traded during the day stood at 6.955 billion as compared to Rs 5.959 billion during last trading day.

    Read more: Two cases of coronavirus reported in Pakistan

    It may be noted that the Pakistan Stock Exchange had lost as many as 1,178 points in first two days of the current trading week. On Tuesday the index had lost 359 points and on Monday the index shed 819.55 points.

    More than 2700 people have died in China due to coronavirus, deaths have been reported from France, Italy, United States and now from Iran and Afghanistan.

    Asian markets were mixed Tuesday as bargain-buying after the previous day’s bloodbath tempered fears that the coronavirus will develop into a pandemic and hammer the global economy.

  • Drugs, weapons worth Rs 600mn seized in Pakistan Coast Guards raids   

    Drugs, weapons worth Rs 600mn seized in Pakistan Coast Guards raids   

    KARACHI: Pakistan Coast Guards (PCG) on Wednesday recovered weapons and drugs worth upto Rs 600 million in separate actions, ARY NEWS reported.

    According to the PCG spokesman, in first action, the law enforcement authorities intercepted a suspicious vehicle and during search recovered weapons including small machine gun (SMG) and a pistol and ammunition. 150 kilograms of charas and nine kilogram of heroine was also recovered during the raid.

    The PCG personnel nabbed four person, who were carrying the drugs to smuggle it abroad.

    In another action near Naka Khari check-post, the authorities recovered 45 kilograms of charas from a container and nabbed one person for his alleged role in trying to smuggle the drugs.

    The authorities shifted the five accused nabbed during the separate raids to another location for further investigation into the matter.

    In April 2019, Pakistan Coast Guards in a raid at Old Marine (Jiwani) area in Balochistan coastal belt seized 350 kilogrammes of hashish.

    Read More: ANF foils drug smuggling bids in country-wide actions  

    The coast guards on a tip-off seized 350 kilogrammes of hashish which was buried along the Jiwani beach.

    The cost of the captured high quality hashish in the international market is estimated upto Rs3.45 billion, a spokesperson of the coast guards said.

    The drug consignment was likely to smuggle out of the country, officials said.

  • Pakistan Stock Exchange loses 667 points

    Pakistan Stock Exchange loses 667 points

    KARACHI: The Pakistan Stock Exchange (PSX) continued its downward trend on Wednesday as the 100-index lost 667 points, amid threats occurred due to coronavirus outbreak, ARY News reported.

    Stock analysts say the market is showing bearish trend due to panic as new wave of coronavirus cases took their toll on the global markets.

    The benchmark KSE-100 index lost 667  points at midday. The index is currently trading at the level of 38,191 points.

    It may be noted that the Pakistan Stock Exchange had lost as many as 1,178 points in first two days of the current trading week. On Tuesday the index had lost 359 points and on Monday the index shed 819.55 points.

    Read more: Coronavirus outbreak: Pakistan border with Iran closed for third day

    More than 2700 people have died in China due to coronavirus, deaths have been reported from France, Italy, United States and now from Iran and Afghanistan.

    Asian markets were mixed Tuesday as bargain-buying after the previous day’s bloodbath tempered fears that the coronavirus will develop into a pandemic and hammer the global economy.

    News at the weekend that COVID-19 was now spreading and claiming lives far beyond China sparked a flood to safety on trading floors across the world, with the Dow on Wall Street suffering its worst day in two years.

  • Gold price falls by Rs2,200 per tola in local market

    Gold price falls by Rs2,200 per tola in local market

    KARACHI: Gold rates fell by Rs2,200 to Rs94,250 per tola in the local market on Tuesday, ARY News reported.

    Likewise, the price of 10 grams of precious yellow metal registered a drop of Rs1,886 and traded at Rs80,804.

    Meanwhile, gold prices in global market also witnessed decreased of $39 per ounce and was being traded at $1641 per ounce, over the impact of the coronavirus outbreak on the global economy.

    Yesterday, the gold price was up by Rs 2000 increase to hit an all-time high of Rs96,300 per tola in the local market.

    Read more: Gold price reaches to Rs 96,300 per tola in Pakistan

    Spot gold rose to $1,684 per ounce after hitting its highest level since Feb. 13, 2013 with 40 dollars per ounce hike.

    Bullion risen 4% in previous week, on track for its best week since late June.

    “Markets are once again anxious because the coronavirus outbreak is possibly spreading outside China. There is huge amount of safe-haven demand as economic slowdown in China, Japan and Germany is expected to persist in the first half of the year,” said Edward Moya, a senior market analyst at broker OANDA.

  • FBR tightens noose around Karachi marriage halls over massive tax evasion

    FBR tightens noose around Karachi marriage halls over massive tax evasion

    KARACHI: Federal Board of Revenue (FBR) has squeezed the net around marriage halls in Karachi over evading billions of rupees in terms of taxes during the past four years, ARY NEWS reported on Monday.      

    A report prepared by the FBR’s Intelligence and Investigations Directorate, the marriage halls in posh areas of the city evaded a total of Rs 9.46 billion in taxes.

    It said that at least 660 first category marriage halls have received taxes from the organizers but never paid it to the authorities.

    The tax authority said that notices were issued to the marriage halls and a real time monitoring of the events held in their premises is being carried out. The FBR said that now the owners are directed to submit a one month prior record of their events.                  

    It is pertinent to mention here that the marriage halls are bound to pay five percent of the amount charged for their place to the tax authorities.

    The FBR said that the halls have only submitted taxes of upto Rs 41 million during the past four years with some of them reporting that not even a single event was held at their premises.

    On the other hand, some of the top marriage halls in the city had only submitted a tax of upto Rs 10,000 during the past four years.

    Read More: FBR launches extensive probe into salaries, assets of doctors

    On February 20, the FBR has issued notices to as many as 24 dress designers that have been found to be underreporting or concealing their income or sales to pay a paltry amount of sales tax.

    The FBR said dress designers earn millions by making apparels but paid a meager amount of tax.

    The tax body detected anomalies in financial records of these 24 apparel makers, saying they declared income which doesn’t commensurate with their receipts.

  • Fourth attempt to move soybean ship successful: sources

    Fourth attempt to move soybean ship successful: sources

    KARACHI: Sources privy to the development have revealed that the soybean carrying vessel being blamed for the toxic gas in Karachi successfully made its way to Port Qasim from Kemari, ARY News reported on Thursday.

    A tug boat pulled the ship to take it to the outer channel sending it on its way.

    Read More: PDMA ill-equipped to deal with threats like toxic gas: CM Murad Ali Shah

    Last night the ship had witnessed some misbalancing which halted its transportation the ship was taken to Port Qasim after the ships balance stabalised.

    Earlier in the day, a third attempt to tug out Hercules cargo ship loaded with soybean from KPT to Port Qasim failed as the captain refused to operate the ship due to lack of balance.

    Read More: Third attempt to tug-out soybean ship from KPT fails

    A decision to remove the vessel from the port over apprehensions in the wake of recent deaths and health issues in population adjacent to the port was made on Wednesday.

    Maritime Minister Ali Zaidi had earlier told the media about the decision to remove the cargo ship from the Karachi Port berth to Port Qasim.

  • Petrol dearth after oil terminals along Kemari port closed amid gas leak fears

    Petrol dearth after oil terminals along Kemari port closed amid gas leak fears

    Pakistan State Oil (PSO) along with other private oil companies in the country have started closing down there oil terminals situated alongside the Kemari port area of Karachi due to the presence of dangerous toxic gas in the air, ARY News reported on Wednesday.

    The persistent threat of toxic gas in the areas near the Kemari port of Karachi has forced companies, institutes and individuals to take precautionary measures.

    Read More: Classes suspended at Dow University over toxic gas fears

    Closure of oil terminals has resulted in a dearth of petrol in the megacity with many petrol pumps closing down or refusing to refill vehicles intending to buy the fuel.

    Many petrol stations have resorted to exploiting the opportunity and jacked up prices of petrol selling them at exorbitant rates.

    Other petrol pumps in the city are refusing to fill more than 10 litres of petrol per vehicle.

    Read More: Toxic gas spread: Ali Zaidi rejects report indicated overexposure to soybean dust

    Pakistan State Oil in a statement has claimed that they have closed down one of their oil terminals across the city out of a total of 23.

    22 oil terminals are working normally. PSO has maintained that the closure should not affect fuel supply.

  • Lab tests reveal highest levels of air toxicity in, around Kemari port

    Lab tests reveal highest levels of air toxicity in, around Kemari port

    KARACHI: The mysterious toxic gas leak at Kemari port earlier on Sunday which has since claimed 14 live and has since left many scores hospitalised has since been researched upon to determine its nature, a preliminary report on the matter was submitted today, ARY News reported on Tuesday.

    Global Environmental Labs (GEL) in its initial report claims that the air in the port area of Kemari has registered an extraordinary increase in the amount of sulfur dioxide presence.

    Sulfur dioxide (SO2) is a pungent corrosive gas that arises predominantly from the burning of coal or crude oil in power plants and from factories that produce chemicals, paper, or fuel.

    The lab revealed that the normal ranges of the chemical present in the air are around 120 percent which had been bumped up to a whopping 1420 percent since the incident was first reported.

    Read More: Toxic gas leakage: Today’s meeting of Sindh cabinet postponed

    Burning of the eyes is a symptom of access presence of the chemical in the air.

    Particulate meters which check air quality around the world have 150 points as the highest level of air toxicity which is still breathable and can be observed in highly concentrated and polluted areas of the world.

    Read More: Soybean dust from cargo handling a likely cause of ‘Karachi gas deaths’!!!

    The air quality meter showed that the range of toxicity in the Kemari port area of Karachi had reached 1155 points on the morning of February 18 when the tests were conducted.

    Earlier in the day, the Sindh health department announced 14 deaths in Karachi’s toxic gas leak incident in the port area.

    Read More: Death toll in Karachi’s toxic gas leak surges to 14: health official

    Dr Zafar Mehdi, focal person of the provincial health department, in a statement, said that 14 persons have been died at the city’s hospitals due to inhaling poisonous gas during the last two days.

    Giving details, the health official said that nine patients admitted at Ziauddin Hospital have died. “Two patients each at the Civil Hospital and Kutyana Memon Hospital in Kharadar, and another patient reported died at Burhani Hospital.”