As the Pakistani rupee gained massively against the US dollar, interim Information Minister Murtaza Solangi hinted at the reduction in petroleum prices in the next fortnight's review — scheduled for September 30. Speaking to the media at the Karachi Press Club on Saturday, the information minister responded to the news report saying that the rupee gained Rs30 to Rs35 against the greenback due to administrative measures taken by the interim government in the last few days. He was referring to the military-backed crackdown launched by the authorities against hoarders, currency smugglers and black marketeers after the rupee fell to a historic low of Rs308 in interbank and beyond Rs330 in the open market earlier this month.
Pakistan International Airlines (PIA), which is facing serious cash flow problems, cancelled several domestic and international flights. A top official of the national flag carrier earlier told Geo News that that flight operations are feared to be suspended by September 15 (today) if emergency funds are not provided. On August 12, a number of domestic flights to and from Karachi were cancelled due to a shortage of funds and the failure to pay Pakistan State Oil (PSO) for fuel supply. According to the Jinnah International Airport schedule today, PIA flights from Karachi to Bahawalpur (PK588 and PK589) and Karachi to Lahore (PK302 and PK303) have been called off. Karachi to Islamabad flight (PK368) has been delayed for three hours while Karachi to Lahore (PK304) is delayed by eight-and-a-half hours. PIA flights to and from Karachi and Rahim Yar Khan (PK582 and PK583) were cancelled while Karachi to Multan (PK330) and Dubai (PK213) were delayed by two hours.
Apple introduces extraordinary features in iPhone 15. iPhone 15 challenges Chinese tech rival with advanced features. Company struggles with complex market dynamics in China. Apple has unveiled its new iPhone 15 lineup amidst concerns about market access in China and heightened competition. The iPhone accounted for over half of Apple's $394.3 billion in sales last year, but the company now confronts fresh hurdles when selling in China, its third-largest market. The new Apple flagship comes with USB-C, a camera upgrade, and the Dynamic Island. The iPhone 15 is priced starting at $799 for a 128GB model and the iPhone 15 Plus starts at $899 for a 128GB version. A significant change that will be evident to most Apple users is the transition from Apple's exclusive "Lightning" charging cables to USB-C, driven by European regulations.
Bank accounts frozen due to non-payment of Rs8 billion in FED. FED was not submitted despite accounts being restored last month, says FBR. PIA accounts associated with IATA also to be frozen. KARACHI: The Federal Board of Revenue (FBR) Thursday froze 13 bank accounts of Pakistan International Airlines (PIA) due to non-payment of Rs8 billion in Federal Excise Duty (FED).
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