Day: April 26, 2024

The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index recorded its highest ever closing at 72,743 on Friday, up by 771.35 points or 1.06 percent. After hitting an intra-day low of 71,764.18, a strong buying spree in the final hours helped the index hit another record high. In a post on X, Topline Securities CEO Mohammed Sohail highlighted that the KSE-100 Index has posted an incredible gain of almost 80 percent in US Dollar terms over the past year. Experts linked the buying spree to expectation of a rate cut among investors in the upcoming Monetary Policy Committee (MPC) meeting of the State Bank of Pakistan (SBP) scheduled on Monday. According to a survey conducted by Topline Securities, participants are split on whether SBP will cut rates or maintain the status quo in the upcoming MPC meeting. Survey showed 51 percent of participants expect the policy rate to remain unchanged at 22 percent, while the remaining 49 percent anticipate a policy rate cut. No participants expect an increase in intere st rates. Source: Pro Pakistani

All Elite Wrestling (AEW) has a jam-packed Pay-Per-View (PPV) schedule for 2024. Tony Khan's wrestling promotion is off to a fairly good start this year with arguably one of the best pay-per-view events in the company's history AEW Revolution, featuring wrestling icon Sting's final match with the legendary 'Nature Boy' Ric Flair. With the addition of the new PPV event, Dynasty, last week, and Double or Nothing set to take place at the MGM Grand Garden Arena in Las Vegas, AEW is setting the stage for its most ambitious year yet with the announcement of an expanded PPV schedule for 2024. Here is the complete PPV schedule for AEW in 2024: Over the years, AEW introduced additional marquee PPVs such as All Out, Full Gear, and Revolution, maintaining a quarterly schedule. However, in 2022, AEW embarked on an expansion period, introducing groundbreaking events like AEWxNJPW: Forbidden Door, which showcased top talent from both AEW and New Japan Pro Wrestling (NJPW), something WWE has not been able to do so. With a total of nine PPV events scheduled throughout the year, AEW is poised to continue its momentum and deliver high-octane wrestling action to fans worldwide. Source: Pro Pakistani

In the ongoing battle against smoking, Pakistan grapples with the widespread impact of this deadly habit. With a population of approximately 242.8 million and an estimated 27 million adult smokers, the country faces significant challenges in tackling smoking-related health issues. Despite efforts to curb its use, Pakistan's fragile healthcare system continues to bear the burden of treating smoking-related illnesses. While some may argue for a blanket ban, such a measure is unlikely to succeed in a country like Pakistan due to the thriving black market, which would only exacerbate the problem. This highlights one of the primary challenges in smoking control in Pakistan - the prevalence of illicit trade, with non-tax paid tobacco now capturing 63% market share due to the ineffectiveness of the track and trace system, and the lack of political will. Illicit trade not only undermines efforts to reduce smoking prevalence but also poses significant risks to public health and results in revenue loss for the govern ment. For a country facing multifaceted challenges, turning to science for tobacco harm reduction (THR) emerges as the most pragmatic step forward. Harm reduction encourages adult smokers, who are addicted to nicotine and unwilling to quit, to transition to less harmful alternatives. According to Dr. S Abbas Raza, a Consultant Endocrinologist at Shaukat Khanum Hospital and Research, who co-authored a recently published international research report titled 'Integrating harm reduction into tobacco control', incorporating THR into Pakistan's tobacco control framework holds the potential to save over 1.2 million lives. Dr Raza suggests that Pakistan can follow the lead of progressive nations by promoting THR as a viable alternative to conventional smoking. 'Pakistan has the opportunity to emulate these achievements by prioritizing harm reduction initiatives and empowering adult consumers with alternatives proven to be less harmful,' he said. The success stories of European countries, particularly Sweden, serv e as compelling evidence of the efficacy of harm reduction strategies. The Scandinavian country's broad endorsement of snus and nicotine pouches, driven by its science-based health policy, has contributed significantly to the decline in smoking rates. However, India's ban on THR products at the end of 2019 served as a cautionary tale. The prohibition led consumers to illicit markets, exposing them to greater health risks. Pakistan must learn from this and avoid making similar mistakes. While Pakistan moves forward in the fight against smoking, embracing harm reduction is crucial. By incorporating THR into its tobacco control framework, Pakistan cannot only save lives but also empower individuals to take control of their health and alleviate the burden on the healthcare system. Adopting innovation and evidence-based strategies to combat smoking addiction will pave the way for a smoke-free future. Source: Pro Pakistani

The Sensitive Price Index (SPI) based inflation for the week ended on April 25, 2024, decreased by 1.10 percent due to a decline in the prices of tomatoes (20.83 percent), onions (14.43 percent), chicken (11.64 percent), wheat flour (4.92 percent), eggs (4.45 percent), chilies powder (3.86 percent) and LPG (2.22 percent), says Pakistan Bureau of Statistics (PBS). The year-on-year (YoY) trend depicts an increase of 26.94 percent. According to Arif Habib Limited, this marks the lowest YoY growth in nearly 7 months, reaching a level not seen since September 14, 2023, when it recorded a 26.25 percent increase. For the week ended April 25th, 2024, SPI recorded a YoY growth of 26.9% YoY. This marks its lowest YoY growth in nearly seven months, reaching a level not seen since Sept 14th, 2023, when it recorded a 26.25% increase.@PBSofficialpak @StateBank_Pak #PBS #Inflation #Pakistan… pic.twitter.com/hm4Du8pyKa - Arif Habib Limited (@ArifHabibLtd) April 26, 2024 The YoY increase was mainly due to an increase in the prices of gas charges for q1 ( 570.00 percent), tomatoes (122.34 percent), onions (121.31 percent), chilies powder (76.53 percent), gents sandal (66.71 percent), garlic (65.11 percent), gents sponge chappal (58.05 percent), salt powder (31.87 percent), shirting (30.17 percent), gur (27.18 percent), pulse mash (27.07 percent) and beef (24.07 percent) while a decrease is observed in the prices of bananas (33.77 percent), cooking oil 5 liter (20.77 percent), vegetable ghee 2.5 kg (17.56 percent), vegetable ghee 1 kg (17.04 percent), wheat flour (16.72 percent), mustard oil (13.36 percent), eggs (9.32 percent), LPG (7.21 percent) and diesel (0.85 percent). During the week, out of 51 items, prices of 15 (29.41 percent) items increased, 10 (19.61 percent) items decreased and 26 (50.98 percent) items remained stable. Week-on-week The items, prices of which, increased during the period under review include potatoes (1.80 percent), powdered milk nido 390 gm polybag each (1.30 percent), vegetable ghee dalda/Habi b or other superior quality 1 kg pouch each (0.70 percent), pulse mash (0.65 percent), sugar refined (0.60 percent), gur (0.59 percent), cooked daal (0.56 percent), mutton (0.51 percent), shirting (0.37 percent), beef with bone (0.36 percent), cooking oil dalda or other similar brands (sn), 5-liter tin each (0.18 percent), pulse moong (0.17 percent), mustard oil (0.15 percent), vegetable ghee dalda/Habib 2.5 kg tin each (0.11 percent) and pulse masoor (0.06 percent). The items, prices of which, declined during the period under review include tomatoes (20.83 percent), onions (14.43 percent), chicken (11.64 percent), wheat flour bag 20 kg (4.92 percent), eggs (4.45 percent), chilies powder national 200 gm packet each (3.86 percent), bananas (3.30 percent), LPG (2.22 percent), garlic (0.43 percent) and rice basmati broken (0.16 percent). Source: Pro Pakistani

Chief of Army Staff (COAS), General Syed Asim Munir on Friday reiterated the importance of unity and collective effort towards the development and prosperity of the country. Addressing participants at the Green Pakistan Initiative Conference, the army chief reaffirmed the resolve to overcome obstacles and focus on national advancement. 'In today's era, complete independence without economic stability is not possible,' he stressed. 'The efforts of those who obstruct the development journey and divert attention from it will fail with the support of the people,' the COAS said, emphasizing that negative propaganda and social media trolls could not divert their attention from Pakistan and working towards the development and prosperity of its people. 'No instability will be tolerated in Pakistan's journey of prosperity and development,' he said, urging all stakeholders to unite in rejecting negative forces and focus on Pakistan's journey of development and stability. Source: Pro Pakistani

Warwickshire County Cricket has signed Pakistani seam-bowling allrounder Aamer Jamal, who is set to join the county cricket club as their overseas player for the upcoming season. The 27-year-old arrived in Birmingham on April 25 and can come straight into the side to play in the County Championship match against Nottinghamshire starting on April 26. His rise through the domestic circuit had been swift and the cricketer has been impressive since the away Test series in Australia last year with his lively pace bowling and aggressive lower-order batting. However, the speedster has not played a single first-class match since January and can be asked to play in Warwickshire's next game on May 10. Warwickshire have signed seam-bowling allrounder Aamer Jamal as an overseas player | Gavin Larsen, Warwickshire performance director, was jubilated by the acquisition of the Pakistani pacer and said, 'He really captured the cricket world's attention in Australia, 'He took the Aussies on with good pace, bounce, and a combative approach, all attributes you want in a fast bowler. His fiery spells with the ball often rattled Australian batters, earning him crucial breakthroughs in tight situations as he picked up 6 wickets on his Test debut in Perth and claimed best bowling figures of 6-69 in Sydney. He contributed crucial runs down the order, scoring 82 runs in the Sydney Test, and on various occasions, he rescued Peshawar Zalmi from difficult positions in the Pakistan Super League (PSL) with his aggressive stroke play. Aamer Jamal will play with his fellow Pakistani cricketer, Hassan Ali who is also representing the Warwickshire County Cricket Club and has a contract with them till the end of July. Source: Pro Pakistani