Author name: nenagency

Cryptocurrencies
Business, Finance, Market, Markets

Pakistan State Bank to Allow Cryptocurrencies | Limited Option

/

ISLAMABAD – The State Bank of Pakistan (SBP) has announced a landmark policy, allowing limited cryptocurrency trading under strict regulatory controls. Controlled Market Access In 2018, the SBP banned all cryptocurrency transactions, prohibiting banks from facilitating such activities due to concerns about money laundering and market volatility. Despite the ban, citizens continued to trade cryptocurrencies through peer-to-peer platforms and international exchanges. The SBP now seeks to regulate these informal transactions by implementing strict volume controls and mandatory user verifications. Economic Pressures and Policy Shift Several economic factors have contributed to this policy shift. Rising inflation, currency depreciation, and declining foreign reserves put a strain on traditional financial systems. Cryptocurrency offers faster and cheaper cross-border transfers, which could benefit remittances contributing billions annually to the economy. With a young, tech-savvy population and a growing IT sector, the demand for digital financial services in Pakistan is increasing. The new regulatory framework aims to address this while enforcing necessary safeguards. Regulatory Framework Features Although still under development, preliminary guidelines outline significant restrictions on cryptocurrency trading: Monthly transaction limits between $100 to $500 per person Mandatory Know Your Customer (KYC) verification with CNIC and bank account linkage Trading limited to SBP-approved cryptocurrency exchanges All transactions routed through registered local banks for monitoring Comprehensive transaction reporting requirements for compliance These measures aim to balance market access while maintaining financial security and oversight. Pros and Cons of Regulated Trading Regulated cryptocurrency access could enhance financial inclusion for unbanked populations and reduce dependence on informal hawala systems, bolstering Pakistan’s fintech sector. Formalized crypto transactions aid tax compliance, increase revenue collection, and provide consumer protections not present in unregulated trading. Integrating crypto into the banking system helps monitor capital flows, aligning with SBP’s objectives. Investor Risks and Challenges Cryptocurrency markets carry volatility risks, with price fluctuations that may lead to significant losses for inexperienced investors. Despite regulatory structures, risks of fraud, tax evasion, and cybersecurity threats remain, justifying the State Bank’s cautious approach. The banking sector requires substantial investment in technology infrastructure for secure crypto transactions, necessitating capital and staff training. Future Prospects for Digital Currency This regulatory framework serves as a controlled pilot for the Pakistani market. Successful implementation could lead to increased transaction limits, expanded cryptocurrency options, and wider market participation. The State Bank will monitor developments to ensure a smooth transition in regulations.

Alizah Shah, Quit Showbiz, Pakistani TV actress Alizeh Shah quit the industry, trauma
World

Why Did Pakistani Actress Alizeh Shah Quit Showbiz? Shocking Truth Behind Her Trauma

/

Pakistani actress Alizeh Shah has announced her permanent exit from the entertainment industry via Instagram. In her heartfelt message, she cited harassment, unpaid wages, and bullying as the primary reasons for her decision. This revelation has sparked a debate on working conditions within Pakistan’s showbiz sector. Rejecting Attention-Seeking Claims Shah addressed accusations of seeking attention directly. She clarified, “To those who believe I exposed people because I wanted work… that thought disgusts me.” Her message emphasized personal liberation over professional gain. The toxic work environment severely impacted her mental health, leading to self-hatred and lasting psychological trauma. Exploitation in the Entertainment Industry Shah disclosed details of her struggles within Pakistan’s entertainment industry, highlighting systemic exploitation: Forced to work 12-hour shifts under disrespectful conditions On-set harassment and bullying Delayed or unpaid wages Developing PTSD from these experiences She asserted, “I don’t want your projects, your offers, or your fake sympathy. Every day, I pray I was never part of this degrading world. I am never going back, not after what it did to me.” Impact of Workplace Trauma Shah shared ongoing physical symptoms from her trauma. “There are nights I cry until I can’t breathe,” she revealed. “Some days I vomit because the memories make me sick. This pain is real—it lives in my body and heart.” She expressed a desire for solitude, underscoring the enduring effects of workplace abuse in Pakistan’s entertainment sector. Addressing Industry Problems Previously, Shah spoke against prevalent issues in the industry. In July, she detailed experiences of harassment, unpaid salaries, and toxic environments. She revisited a 2021 fall incident alleged to have been staged to humiliate her, which resulted in a public apology from senior actor Juggan Kazim. Systemic Issues in Pakistani Showbiz Shah’s statements reflect widespread concerns among industry actors. Beyond complaints about delayed payments, deeper issues were uncovered: Exploitation of junior actors Bullying disguised as “discipline” Threats of blacklisting to suppress dissent Her departure raises urgent questions about workplace safety and mental health support for entertainment professionals in Pakistan. The industry faces increasing pressure to address these persistent issues.

Pakistan Oil Sales August 2025 Jump 7% YoY
Pakistan

Pakistan Oil Sales August 2025 Jump 7%

/

KARACHI: Pakistan’s oil sales rose by 7% year-over-year in August 2025, reaching 1.3 million tonnes. This growth follows a 6% increase noted in July 2025, according to Topline Securities. FY26 Cumulative Sales Growth In the first two months of FY26 (July-August), oil sales accumulated to 2.523 million tonnes, marking a 5% rise from the same period in 2024. This aligns with expanding economic activity across the nation, particularly in the industrial and transportation sectors. Gasoline Sales Propel August Growth Gasoline, also known as motor spirit, sales hit 675,000 tonnes in August, showing significant annual and monthly increases. Key Gasoline Sales Metrics 8% increase year-over-year 10% rise month-over-month July-August combined sales: 1.288 million tonnes, up 6% from 1.216 million tonnes in 2024 This surge in sales is driven by the growing demand within Pakistan’s passenger car market, particularly in the two- and three-wheeler sectors. High-Speed Diesel’s Robust Growth High-speed diesel (HSD) sales reached 522,000 tonnes in August 2025, representing a 14% increase over August 2024’s 456,000 tonnes. Additionally, there was a 2.6% increase from July’s 509,000 tonnes, reflecting sustained demand in transportation and industrial sectors. Diesel sales from July to August totaled 1.031 million tonnes, a 12% rise from 921,000 tonnes during the same period in 2024. Continued Decline in Furnace Oil Consumption Furnace oil (FO) consumption continued to decline sharply, with August sales dropping 71% to 19,000 tonnes from 65,000 tonnes in August 2024. In July, sales were 15,000 tonnes. Combined sales for July-August fell 76%, totaling 34,000 tonnes, down from 142,000 tonnes in the same period last year. This trend shows Pakistan’s shift from FO-based power generation towards cleaner, cost-effective energy sources.

Mitchell Starc, The last goodbye , T20 Cricket
Cricket, International, Sports, Uncategorized

The modern swing king Mitchell Stac Says The One Last Goodbye T20 Cricket

/

Six months before the upcoming World Cup in India and Sri Lanka, Australia’s fast-bowling star Mitchell Starc announced his retirement from Twenty20 international cricket. At 35, the left-arm pace bowler aims to extend his career in Test and one-day international formats. Career Achievements in T20 Cricket Starc retires as Australia’s most successful fast bowler in T20 cricket, securing 79 wickets in 65 matches. He ranks second on Australia’s all-time T20 wicket-takers list, just behind spinner Adam Zampa. Reflecting on his career, Starc said, “I have enjoyed every second of every Twenty20 match I have played for Australia, especially the 2021 World Cup,” citing team victory and camaraderie as major highlights. Focusing on Test and ODI Formats Starc has consistently preferred Test cricket and believes that concentrating on these formats will prepare him for the 2027 ODI World Cup, The Ashes, and an away Test series in India. Notably, Starc was not part of Australia’s T20 team for the series against New Zealand, allowing opportunities for other bowlers to prepare for the upcoming T20 World Cup. Replacing a Swing Bowling Icon Selectors chairman George Bailey acknowledged the challenges of replacing Starc, stating, “We will miss his ability to bowl crucial overs and impact the game early with the new ball.” Few bowlers match Starc’s skill in swinging the ball at 145 km/h while excelling in fielding. Although a direct replacement has not been announced, responsibilities have been given to: Nathan Ellis Ben Dwarshuis Sean Abbott Xavier Bartlett Impact on Australia’s T20 World Cup Ambitions Starc played a pivotal role in Australia’s only T20 World Cup victory in 2021, taking nine wickets in seven games in the UAE. His retirement significantly impacts Australia’s ambitions for another T20 World Cup title next year. This decision occurs alongside a generational shift in Australian cricket, with veterans like Steve Smith, Glenn Maxwell, and Marcus Stoinis stepping down from one-day fixtures following David Warner. Todd Greenberg, Cricket Australia’s manager, commended Starc’s dedication. “It’s a testament to prioritizing the team, carving a path for future bowlers for the T20 World Cup,” he stated.

Heavy Rains in Islamabad PMD Issues Flood Alert for Nullah Lai
Disaster, National News, Pakistan, Safety

Heavy Rains Lash Islamabad, PMD Issues Flood Alert for Nullah Lai

/

Monsoon Downpour Causes Urban Flooding in Islamabad On Monday, heavy rains swept through Islamabad, offering relief from the heat but also sparking urban flooding worries. Many sectors of the federal capital experienced significant impact. The rain began early in the morning, triggering major citywide disruptions. Water pooled on key roads such as Constitution Avenue and Jinnah Avenue. Commuters faced severe traffic congestion due to waterlogged low-lying areas. These problems persisted throughout the day. Nullah Lai Flood Alert Issued by PMD The Pakistan Meteorological Department (PMD) has released a flood alert for Nullah Lai, a seasonal stream affecting Rawalpindi and Islamabad. Residents nearby are urged to stay vigilant as continued rain could rapidly raise water levels. Authorities are monitoring the catchment areas of the twin cities closely to avert potential disasters. Emergency Measures in Place Across Islamabad Emergency response protocols have been activated across Islamabad. The district administration and Rescue 1122 teams are actively deployed in vulnerable areas. Heavy machinery is positioned at flood-prone sites to ensure drainage systems remain functional. Municipal workers are busy clearing debris. Safety Precautions for Residents Residents along Nullah Lai have received urgent safety advisories. Recommended precautions include: Avoid unnecessary travel near flood-prone zones. Stay indoors during heavy rainfall. Avoid driving on waterlogged roads. Stay informed through PMD and disaster management agencies. Keep emergency contact numbers accessible. Extended Weather Forecast for Pakistan Monsoon rains are forecasted to continue extensively across Pakistan over the next 24 hours. PMD indicates widespread precipitation in northern and central regions. The northern areas face heightened risks of flash floods and landslides. Authorities advise extreme caution for residents in mountainous zones.

Afghanistan earthquake,
World

Afghanistan’s deadliest earthquakes over the past decade

/

Afghanistan has experienced a series of devastating earthquakes over the past decade. These disasters have led to significant loss of life and widespread destruction, particularly in the country’s eastern and western regions. Located along active seismic zones, Afghanistan remains highly vulnerable to powerful tremors. These seismic events also affect neighboring Pakistan, especially the border provinces. Consequently, there is an urgent need for effective cross-border humanitarian coordination to respond to these disasters. Major Earthquakes from 2015 to 2025 October 26, 2015: Hindu Kush Earthquake Magnitude: 7.5 Location: Hindu Kush region (northeastern Afghanistan) Casualties: Approximately 117 in Afghanistan; a total of 272, including Pakistan and India This powerful earthquake, one of the strongest recorded in Afghanistan, had a significant cross-border impact, extending into Pakistan’s border provinces and resulting in heavy casualties. January 17, 2022: Badghis Earthquake Magnitude: 5.3 Location: Qadis district, Badghis (western Afghanistan) Casualties: Approximately 26-30 deaths Despite its moderate magnitude, this shallow earthquake destroyed hundreds of homes and damaged the historic Minaret of Jam, a UNESCO World Heritage site. It underscores the threats to Afghanistan’s cultural heritage. June 22, 2022: Eastern Provinces Earthquake Magnitude: 6.1-6.2 Location: Paktika, Paktia, Khost, Nangarhar provinces Casualties: Approximately 1,036 deaths; hundreds injured This violent earthquake caused extensive destruction, collapsing homes and displacing thousands, leading to a major humanitarian crisis near the Pakistani border. September 5, 2022: Kunar Earthquake Magnitude: 5.1 Location: Kunar province (near Jalalabad) Casualties: Approximately 18 deaths, 42 injured This earthquake resulted in moderate damage in Kunar and surrounding areas, indicating increased seismic activity in Afghanistan’s eastern region in 2022. March 21, 2023: Badakhshan Earthquake Magnitude: 6.5 Location: Badakhshan province (northeast) Casualties: Approximately 21 in Afghanistan and Pakistan This intermediate-depth earthquake affected both Afghanistan and Pakistan, highlighting ongoing seismic risks in the Hindu Kush mountain system. October 2023: Herat Earthquake Series Magnitude: 6.3 Location: Herat province (western Afghanistan) Casualties: Approximately 1,480 to 2,445 deaths; up to 9,420 injured The October series of devastating earthquakes marked Afghanistan’s deadliest seismic disaster, with repeated tremors causing massive destruction and overwhelming local response capabilities in Herat province. August 31, 2025: Eastern Provinces Earthquake Magnitude: 6.0 Location: Kunar, Nangarhar provinces (near Jalalabad) Casualties: 600-812+ deaths; 2,500-2,800+ injured Striking at midnight, this earthquake surprised residents, causing catastrophic damage and landslides, exacerbating the humanitarian plight in the region.

ducky bhai, famous pakistani youtuber , NCCIA
Business

Famous Pakistani YouTuber Ducky Bhai will remain in NCCIA custody until September 3

/

The National Cyber Crime Investigation Agency (NCCIA) will hold YouTuber Saadur Rehman, known as Ducky Bhai, in custody for two additional days. A Lahore court magistrate extended his detention until September 3, as investigations into illegal gambling app promotions continue. Legal Charges and Detention Ducky Bhai faces several charges under Pakistani law, including violations of the Prevention of Electronic Crimes Act, 2016, and the Pakistan Penal Code. The charges include: Section 13 – Electronic Forgery Section 14 – Electronic Fraud Section 25 – Spamming Section 26 – Spoofing Section 294 B – Offering prize linked to trade Section 420 – Cheating and dishonestly inducing property delivery He was arrested at Lahore’s Allama Iqbal International Airport, suspected of promoting these apps on his YouTube channel. Investigation and Allegations The investigation commenced on June 13, based on credible sources. It uncovered that social media influencers were promoting gambling apps for profit. The First Information Report (FIR) outlines public financial losses attributed to these apps, specifically accusing Ducky Bhai of endorsing them on his platform. Apps Under Scrutiny The following apps are allegedly involved: 1xBet Bet 365 B9 Game Binomo Authorities suspect he might have acted as a country manager for one or more of these apps. Forensic Evidence and Court Proceedings Ducky Bhai’s initial four-day remand concluded before Monday’s hearing in Magistrate Muhammad Naeem Wattoo’s court. Forensic evidence prompted a request for remand extension. Prosecutors presented data from confiscated electronic devices showing discussions on gambling apps. International transaction evidence supported the request. Defense and Court Ruling Advocate Chaudhry Usman Ali, defending Ducky Bhai, opposed the remand extension, arguing that transaction data could be gathered without detaining him. The defense claimed no definitive evidence linked Ducky Bhai to user losses on Binomo or other apps. Nevertheless, the judge approved a two-day custody extension, urging NCCIA to complete the investigation while authorities analyze digital evidence and financial transactions.

Business

Islamabad, August 31, 2025, 01:51 PM PKT – PM’s Youth Loan Scheme Targets Rs. 350B Disbursement by 2026

/

The Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS) aims to disburse Rs. 350 billion by 2026. It has supported 434,448 young entrepreneurs with Rs. 251.25 billion so far. Chairman Rana Mashhood Ahmed Khan announced this milestone on August 31, 2025, marking a significant investment in Pakistan’s entrepreneurial ecosystem and economic development. Expansion Plans for Youth Entrepreneurs During a discussion with NEN, Khan detailed the scheme’s future plans. The initiative aims to support an additional 600,000 youths by the following year. It emphasizes inclusivity, reserving 33% of loans for female entrepreneurs to ensure equitable access to business financing. Banking Partnerships and Infrastructure Strengthening To achieve these goals, the program has introduced 50 new training centers nationwide. These centers provide crucial support and guidance to loan applicants throughout the application process. Currently, 15 banks manage around 10,000 loan applications monthly. They focus on key sectors: Small and medium enterprises (SMEs) Agricultural businesses Punjab Leads in Loan Distribution Punjab province has emerged as the largest beneficiary, receiving 40% of the loan disbursements. This reflects its population density and vibrant entrepreneurial activity. Economic Impact and Job Creation The initiative has generated substantial economic benefits, creating 1.2 million jobs nationwide. It supports high-growth sectors like IT startups and agribusiness ventures. Demand for Faster Loan Processing The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has advocated for faster loan processing to meet the growing demand. “This fuels our economy,” an entrepreneur noted, highlighting the scheme’s significant impact on grassroots business development across Pakistan.

Business

Islamabad, August 31, 2025, 01:55 PM PKT – Zardari Urges SCO to Boost Regional Trade at Summit Prep

/

President Asif Ali Zardari has called for enhanced cooperation within the Shanghai Cooperation Organization (SCO) to boost regional trade and address shared challenges. He made this appeal during a preparatory meeting for the upcoming SCO Summit on August 31, 2025. Economic Connectivity Drives Growth The President underscored the significance of the SCO platform in promoting economic connectivity among member states. He highlighted the necessity to tackle climate change and security threats together. “SCO can transform our region’s economic landscape,” Zardari told NEN. He emphasized that by focusing on trade integration, member nations can explore new market opportunities, thereby enhancing cross-border investment and commercial growth. CPEC’s Role in Trade Expansion Zardari emphasized Pakistan’s pivotal role in advancing the China-Pakistan Economic Corridor (CPEC) within the SCO framework. This initiative connects Central Asian markets via the Gwadar port, creating a crucial trade corridor for regional commerce and economic integration. Targets for Regional Integration The government has set ambitious economic targets for regional integration: $3 billion in trade deals targeted for 2026 Improved connectivity between Central Asia and regional markets Development of Gwadar port as a major trade hub Summit Agreements on Trade Facilitation Preparations for the Tianjin summit have concluded, with officials confirming that 10 agreements are ready for signing. These agreements will focus on trade facilitation and economic cooperation among SCO member states. The Foreign Office highlighted Pakistan’s initiative for an SCO climate fund to assist vulnerable nations, demonstrating the country’s commitment to tackling environmental challenges through regional cooperation. Support for Connectivity Vision Regional diplomats in Islamabad expressed support for Zardari’s vision of unity and economic integration. “Connectivity is our future,” stated an envoy, emphasizing the growing consensus on regional economic priorities. Stay updated at nenagency.com.

Pakistan

Karachi, August 31, 2025, 01:50 PM PKT – Universities, Industry Launch Tech Alignment Initiative

/

Pakistan’s leading universities and technology companies have joined forces to launch a pioneering tech alignment initiative. Announced on August 31, 2025, this program aims to synchronize computer science education with industry needs. The initiative was unveiled at a summit in Karachi, with academic leaders and tech executives from across the country in attendance. Annual Training for 10,000 Students The initiative plans to update curricula to prepare 10,000 students annually, equipping them with essential skills for Pakistan’s growing technology sector. This effort addresses the rising demand for qualified professionals nationwide. Dr. Zia Khan from the National University of Sciences and Technology (NUST) stated, “We are aligning education with industry demands to prepare graduates for real-world challenges.” Government Support for Curriculum Changes The IT Ministry of Pakistan supports this initiative, which introduces specialized modules in crucial areas of technology. These modules include: Artificial intelligence Cybersecurity Cloud computing Fifteen universities, such as Habib University and the Lahore University of Management Sciences (LUMS), are actively participating in the program. Timeline and Industry Collaborations The implementation of this initiative begins in January 2026. Leading tech firms, including Systems Limited, are offering 200 internship slots to students in the program. These partnerships provide hands-on experience, enriching academic learning with real industry exposure. Tackling the Skill Gap in Tech The initiative directly tackles the pressing skill gap, as approximately 70% of computer science graduates currently lack industry-ready skills. It places a strong emphasis on practical training and faculty development programs. At the Karachi summit, tech leaders stressed the importance of such initiatives in shaping Pakistan’s digital future. Stay updated at nenagency.com.

Scroll to Top