Man gunned downd in DHA Karachi

KARACHI: A man shot dead his friend near Phase 5 of the Defence Housing Authority (DHA) in Karachi on Sunday.

According to the police, Fahad Khan made 55-year-old Humayun get out of the car he was driving and then sprayed him with bullets, resulting in his instant death.

Giving further details, the police said that the deceased was sitting with his friends in an apartment near Sea View area of the city when Fahad came there and had an exchange of hot words with him.

However, their friends intervened and calmed them down. And when later Humayun left for his home along with his friend in a car, Fahad followed him to his home, the Force said, adding there he intercepted him, made him alight from the car and then pumped bullets into his body.

Police said they had taken over 15 empty shells of bullets, they had found at the crime scene, into their possession. They informed bullets pierced through the back side of the deceased’s car.

Police, however, said they were trying to figure out what led to the murder. They informed that the manhunt for the assassin had also been launched.

12 injured in mill boiler blast in Faisalabad

Faisalabad: As many as 12 workers were injured in a boiler explosion at a textile mill located on Sargodha Road in Faisalabad on Sunday.

According to rescue sources, the fire broke out after the boiler exploded and the iron roof of the factory collapsed. The boiler of Sargodha Textile Mills exploded due to high pressure, the Rescue sources said.

Rescue officials confirmed that 12 labourers, working in the factory at the time of the blast were injured.

On receiving the information, the rescue team reached the spot and brought the fire under control. Later, they shifted the injured workers to a hospital.

Zahoor, Azam, Abdul Waheed, Fayaz Ahmed, Abu Bakr, Waseem and Umeer are among the minor injured while Zanir, Salman, Mustansar, Shoaib and Sohail are among the seriously injured.

Rescue personnel completed the cooling process and handed over the control of the factory to the management.

Bid to smuggle weapons from Afghanistan into Pakistan foiled

KHYBER: FC North and Customs authorities on Sunday claimed to have foiled an attempt to smuggle weapons from Afghanistan into Pakistan.

As per details, two vehicles carrying goods were checked at the Torkham Border, during which weapons were recovered.

Recovered weapons include three rifles, two pistols and 12,000 bullets of pistols and repeaters. The drivers were arrested and handed over to the Customs for further action.

Last year in December, Pakistan authorities had also foiled a bid to smuggle US-made weapons from Afghanistan by seizing a truck loaded with onions at the Torkham Border.

Solar panel rate falls marginally

lahore: The rate of solar panels in Lahore again came down significantly as the price of a 7 to 15-kilowatt system has come down by Rs75,000 to Rs200,000, a market report said Saturday.

After decrease in price, the cost of a 7-kilowatt system has come down to Rs750,000 while a 10-kilowatt system rate now stands at Rs1.05 million with a reduction of Rs100,000.

After reduction of Rs150,000 on a 12-kilowatt system, it will now be installed for Rs1.50 million. After reduction of Rs200,000 in a system of 15 kilowatts, solar panel can be installed for Rs1.4 million.

The above-mentioned prices are fixed for installation of on-grid system while batteries for hybrid system installation will have to be paid separately.

Pakistan requesting multi-billion-dollar loan programme from IMF: Finance Minister

ISLAMABAD: Finance Minister Muhammad Aurangzeb has said Pakistan is requesting a larger and longer multi-billion-dollar loan programme from the International Monetary Fund (IMF).

According to a Radio Pakistan’s report, in an interview with TRT World, he said discussions are underway with the IMF’s officials. The Finance Minister, meanwhile, ruled out any further significant rupee devaluation.

Earlier, speaking at roundtable meeting with Bloomberg team in Washington, he said Pakistan’s solid reserves, stable currency, and growing exports support against rupee devaluation.

He said his country is ramping up support for industries, agriculture, and IT to boost national growth above four percent in the coming years.

Measures being taken to promote Chinese language for strengthening Pak-China ties: PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday said all possible measures are being taken at the public and private level to promote Chinese language and literature in Pakistan in order to further strengthen bilateral relations between the two countries.

In his message on the International Day of Chinese language, the Prime Minister said China has made its mark around the world due to its economic development. He said the Chinese culture and language are rapidly becoming popular all over the world.

Shehbaz Sharif said the Chinese has become the major language of communication around the world. The United Nations has also included the Chinese language in the official languages of communication.

The Prime Minister said economic and cultural relations between Pakistan and China are developing rapidly due to the China-Pakistan Economic Corridor (CPEC).

He said the number of people learning Chinese in Pakistan is increasing rapidly which will further strengthening relations between the two countries.

Finance Minister hopes for new agreement with IMF next month

ISLAMABAD: Finance Minister Muhammad Aurangzeb has expressed hope that a new agreement with the International Monetary Fund (IMF) will be finalized next month.

In an interview with British news agency Reuters, he said the government is seeking a longer loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much needed structural reforms, according to a Radio Pakistan’s report.

The Finance Minister said we expect the IMF mission to be in Islamabad around the middle of next month. He said once the IMF loan is agreed, Pakistan would also request additional financing from the Fund under the Resilience and Sustainability Trust.

He said we have to come back into a certain ratings environment and the government is hoping to get an improvement in its sovereign rating in the next fiscal year.