Category: Information Technology

A bereaved family from Karachi has filed a lawsuit against K-Electric, the only electricity supplier of the provincial capital, claiming a compensation of Rs. 14.4 million for the death of their teenage son due to electrocution.

Earlier this year in August, eighteen-year-old Shehzad, who was the sole breadwinner of the family, died after getting electrocuted in Baldia Town during heavy monsoon rain.

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Torrential monsoon rainfall had hit Karachi in August, shattering all previous records. The monsoon spell lasted a few days, wreaking devastation across the city. The streets and homes of the metropolis were inundated, rendering damage to property worth billions. At least 41 people were also killed in different rain-related incidents across Karachi.

Usman Farooq, counsel for Shehzad’s family in a sessions court, has said K-Electric is responsible for the death of Shahzad.

While accepting the case for hearing, the court has served notice to K-Electric, seeking its response on the matter.

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Scientists at Nottingham Trent University, England, have developed a facemask which not only acts as a barrier between an individual and the Coronavirus but also kills the deadly virus on contact.

According to details, the facemask, which uses nanotechnology to kill 90% of the Coronavirus and has a 99.98% filtration efficiency, will go on sale next month.

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Unlike a normal facemask which has a three-layer design without any active mechanism to kill the Coronavirus, this new antiviral facemask consists of five layers, including an additional antiviral inner layer made using nano-copper technology which ensures extra protection for both the person wearing the mask and those around him or her.

Moreover, the facemask also contains a fluid repellent layer on the outside, two filter layers which contain the additional antiviral nano-copper layer, and a hypoallergenic breathable innermost layer.

Once the Coronavirus comes in contact with the mask, the copper ions get emitted which interact with the genetic material of the virus, stopping it from reproducing and rendering it inactive.

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Dr. Gareth Cave, a scientist and nanotechnology expert at Nottingham Trent University, has said that the facemask offers the highest level of protection and has been certified to ISO 18184 standards.

He has also assured that the price of the new antiviral facemask will be in line with the current conventional surgical masks despite the additional layer and the antiviral properties.

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The Pakistani rupee further weakened against the USD on Wednesday. This is the second consecutive day where the rupee has fallen after a 22-day winning streak against the greenback.

In the interbank market, the rupee closed at 159.83 per dollar, compared to yesterday’s closing of 158.31. It lost Rs. 1.52 against the greenback during the session.

The rupee depreciated by Rs. 2 and was trading around 160.30 versus the greenback in the open market.

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Rupee Appreciates Again, Closing in On Pre-COVID Levels

PKR weakened by 1.2% intraday on a high/low basis, making it the most volatile in the last five months. The rupee traded at the highest of 158.25 and the lowest at 160.10 today, said Komal Mansoor from Tresmark, an application that tracks financial markets.

In our research dated 7th Nov, our research team had pointed out major support at 158.10. Bankers talking with our research team have said the jump may be temporary as banks were covering their short positions in the market. An anonymous source at SBP said it’s a “market-driven correction”.

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari, told ProPakistani that the correction is needed.

“One-way trajectory was not sustainable as imports rise. SBP’s TERF financing would lead to more machinery imports worth. Ripe time for SBP to ward-off speculators and save for the rainy day,” he added.

Despite consistent inflows of foreign exchange in the country due to overseas remittances and Roshan Digital Accounts along with export receipts, and a surge in foreign direct investment, the Pakistani rupee came under huge pressure today.

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The United States (US) has reportedly refused to provide the COVID-19 vaccine to Pakistan in the first phase. The denial came in response to the official request made by the Pakistani Commission in Washington.

As per media reports, Pakistan was informed that the vaccine will be exported in the second phase after meeting the local requirements.

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The Mission conveyed the response to the federal government, which then informed the Ministry of Health, and asked it to make alternative arrangements.

The Mission and the health ministry had been in contact with US companies for advance booking to make the vaccine available as soon as possible.

The move came after Prime Minister Imran Khan approved funds for the acquisition of potential COVID-19 vaccines under phase-III trials.

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Earlier this month, the ministry had written to Prime Minister for approval of the $100 million grant to acquire the coronavirus vaccine.

The summary was approved on November 12, allocating the said amount for the purchase of vaccines on an emergency basis for around 10 million nationals.

The vaccine will be administered to elderly citizens and health workers in its first phase.

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Determining how long the immunity against SARS-COV-2, the coronavirus which causes the COVID-19 infection, actually lasts has been the most pressing question ever since the deadly pandemic broke out in Wuhan last year.

However, researchers at the University of Arizona have come up with the most comprehensive answer to this question yet, claiming that the immunity against the virus lasts for years.

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According to the study, which is yet to be peer-reviewed or published in any scientific journal, immune cells have been found in people, who had contracted COVID-19 and successfully recovered from the affliction, 8 months after the first diagnosis. These immune cells are sufficient to attack the virus and avert illness in the future.

Shane Crotty, a co-author of the study and a virologist at the La Jolla Institute of Immunology California, has said:

That amount of immune cells found after 8 months is likely to prevent the vast majority of people from getting hospitalized disease or severe disease for many years.

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Moreover, this study also corresponds to another recent research that revealed that survivors of SARS, the infectious disease caused by SARS-COV-1, carry immune cells 17 years after recovering from the disease.

Having initially believed that the immunity against the coronavirus may be short-lived, healthcare experts have heaved a sigh of relief after the findings of the study were made public.

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The daily COVID-19 positivity rate in Islamabad reached 11.78 percent on Tuesday, the highest since the outbreak in March.

According to the district administration officials, the federal capital reported 261 new infections and three more virus-related deaths during the last 24 hours. The capital’s caseload now stands at 24,871.

On the other hand, five educational institutions have also been closed after students, and the staff members tested positive for coronavirus. The institutions sealed by the authorities are Islamabad Model School for Girls, F-7/2, Islamabad Model School, G-7/3, Islamabad Model College for Boys, H-9, Islamabad Model College for Girls, F-6/2, and Islamabad Model College, Malpur.

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A total of 1,917 tests were conducted on Tuesday, out of which 226 people, 127 males and 99 females, were found infected, showing a positivity rate of 11.78 percent. The deceased patients, including two women, were between the ages of 40-79.

As per the official data, the number of active cases in the capital stands at 3,473 with 117 in hospitals and others isolated at homes. At least 91 patients are on oxygen, 16 on ventilators while 10 patients are in stable condition.

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The Chinese network company and Smartphone maker ZTE, mainly known for its Nubia gaming series, recently shared that it is going to make a big announcement tomorrow (19th November 2020). The news was shared via the company’s official Weibo account.

Earlier this month, the company General Manager, Lu Qianhao, shared that ZTE was planning to launch a number of new Smartphones in November. So far, only one handset has been launched. Hence, there is a high probability that the smartphone OEM is going to launch a new handset tomorrow.

Even though the company has not revealed anything officially, experts believe that the impending smartphone will come with entry-level specifications and a reasonable price. The company released the ZTE Blade A7s 2020 earlier this month. Hence, the second phone might belong to the same category as well.

Moreover, last week, live images of the alleged ZTE Blade A51 surfaced online. The smartphone also recently passed through FCC certification, so the company might unveil the handset tomorrow.

According to the certification, the handset will feature a 6.1-inch display with a waterdrop notch, a polycarbonate plastic body, a 3,200mAh battery with 5W charging, and support for Bluetooth 4.2 connectivity, 2.4GHz Wi-Fi, USB Type-C, and a 3.5 mm audio jack.

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Pakistan is set to receive the debt servicing relief of $2.7 billion under the G20’s Debt Servicing Suspension Initiative (DSSI), which will help create expenditure space for COVID-related spending.

In a global context, Pakistan is likely to benefit the most from potential savings under the DSSI.

The total volume of debt relief under DSSI stands at $11.5 billion, out of which Pakistan’s share alone is around 23 percent. The shares of other countries are negligible relative to Pakistan, except for Angola.

In terms of percent of GDP, Pakistan is among the top 10 DSSI beneficiaries. This debt relief will not only ease pressures on debt servicing but also create the needed fiscal space to mitigate the impact of COVID-19 in Pakistan.

Ultimately, participation in this initiative would further improve the debt sustainability indicators of Pakistan. Pakistan applied for the DSSI in the last quarter of FY20.

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FDI Witnesses a Massive 150% YoY Increase in October

Persistent fiscal and current account deficits have led to debt accumulation over the years, putting pressures on debt sustainability. External debt is considered sustainable if a country can meet its maturing obligations without debt rescheduling and without compromising on economic growth.

Pakistan’s total external debt and liabilities (EDL) increased by $6.5 billion during FY20 compared to a rise of US$ 11.1 billion during FY19.

This slowdown in external debt accumulation was attributed to a marked contraction in the current account deficit, revaluation gains of $0.4 billion on the outstanding stock of external debt, and higher debt repayments during the year.

Lastly, the share of loans from the IMF also increased during FY20, which not only included the tranches received under the Extended Fund Facility (EFF) but also the inflow of $ 1.4 billion under the Rapid Financing Instrument (RFI) following the COVID-19 crisis.

The most common measure used to assess debt-bearing capacity is the external debt and liabilities to GDP ratio, which improved marginally to 45.5 percent by end-June 2020 from 45.7 percent by end-June 2019.

The indicator shows that the growth in nominal GDP outpaced the growth in external debt and liabilities during FY20. As highlighted earlier, the reduction in current account deficit and higher amortization contained the growth in external debt and liabilities.

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However, it is also important to emphasize that this ratio has been consistently increasing over the last few years. The ratio increased from 26.6 percent during FY16 to 45.5 percent during FY20.

This indicates that the cumulative growth in external debt surpassed the nominal GDP growth during this period.

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