Green Line Bus service becomes fully operational from today

The wait is over for citizens of the port city as the Green Line Bus service has launched full commercial operation from today.

According to details, 80 buses will cover a track of 21 kilometers from 7 in the morning till 10 at night and the fare of one trip will range between Rs15 and Rs55.

The 18-meter-long buses have 40 seats and can accommodate 150 people at a time. The bus has also an adjustable ramp for wheelchair users.

The imported vehicles are of Euro 3 standards which means that the carbon monoxide emissions from the buses are reduced.

It is also to be noted here that despite the claims of completion of project, but in reality many areas including Golimar and UP More, the stations still await escalators and many other areas are in need of finishing. Keeping this in view the citizens have demanded that the fare should be reduced.

The official sources told that the delay in the installation of escalators is due to delays in import services and the work will be completed as soon as the machinery is received.

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Abbasi questions on admistration role in muree incident

Former prime minister and Pakistan Muslim League-Nawaz (PML-N) leader Shahid Khaqan Abbasi on Monday questions on admistration role in muree incident.

In a statement, the PML-N leader said that the locals came forward and provided relief to the stranded tourists. Why the administration didn’t take any action against the owners of the hotel for raising fares, he asked.

On the other hand, the authorities have cleared major roads in Murree after removing snow to normalise traffic flow at the hill station.

Cars stuck on Kuldana-Barian Road have also been handed over to their owners. The tourists left their vehicles on roads and went to the hotels and camps during snowfall.

Security personnel are still performing their duties at different areas in Murree to ensure smooth travelling of the tourists.

No one, except the locals are allowed to enter the hill station.

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Green Line Bus service becomes fully operational from today

The wait is over for citizens of the port city as the Green Line Bus service has launched full commercial operation from today.

According to details, 80 buses will cover a track of 21 kilometers from 7 in the morning till 10 at night and the fare of one trip will range between Rs15 and Rs55.

The 18-meter-long buses have 40 seats and can accommodate 150 people at a time. The bus has also an adjustable ramp for wheelchair users.

The imported vehicles are of Euro 3 standards which means that the carbon monoxide emissions from the buses are reduced.

It is also to be noted here that despite the claims of completion of project, but in reality many areas including Golimar and UP More, the stations still await escalators and many other areas are in need of finishing. Keeping this in view the citizens have demanded that the fare should be reduced.

The official sources told that the delay in the installation of escalators is due to delays in import services and the work will be completed as soon as the machinery is received.

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After heavy snowfall, Skardu Airport has been made ready for flight operations

The Skardu Airport has been made ready for flight operations after the central valley of Gilgit-Baltistan received heavy snowfall during the last four days.

The Skardu air facility, located at 7,500 feet above the sea level, is one of the world’s highest airports.

According to details, the runway of Skardu Airport was closed due to heavy snowfall which has now been cleared by the CAA authorities. The airport became fully operational for the landing and take-off of aircraft.

The airport management said that the runway and upper apron areas were completely closed due to 6 inches of snow at the airport, which have been cleared in eight hours.

The Civil Aviation Authority (CAA) is working on an emergency basis at and around Skardu Airport.

CAA staff cleared the runway with tractors. The management added that the airlines could operate the flight depending on the weather conditions.

Earlier, the CAA in its press note said the clean-up operation continued throughout the night and the snow was removed from one runway, having 8,000 feet in length, while the clearance work on the second runway of 12,000 feet length was in progress.

The local administration was also helping the CAA in clearing the airfield to resume the regular flight operation at the earliest.

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After heavy snowfall, Skardu Airport has been made ready for flight operations

The Skardu Airport has been made ready for flight operations after the central valley of Gilgit-Baltistan received heavy snowfall during the last four days.

The Skardu air facility, located at 7,500 feet above the sea level, is one of the world’s highest airports.

According to details, the runway of Skardu Airport was closed due to heavy snowfall which has now been cleared by the CAA authorities. The airport became fully operational for the landing and take-off of aircraft.

The airport management said that the runway and upper apron areas were completely closed due to 6 inches of snow at the airport, which have been cleared in eight hours.

The Civil Aviation Authority (CAA) is working on an emergency basis at and around Skardu Airport.

CAA staff cleared the runway with tractors. The management added that the airlines could operate the flight depending on the weather conditions.

Earlier, the CAA in its press note said the clean-up operation continued throughout the night and the snow was removed from one runway, having 8,000 feet in length, while the clearance work on the second runway of 12,000 feet length was in progress.

The local administration was also helping the CAA in clearing the airfield to resume the regular flight operation at the earliest.

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Gas explosion occurred in Karachi

A powerful gas explosion occurred in a nullah near Paracha Chowk in Karachi’s Shershah area on Sunday.

According to police, the blast occurred in a sewerage drain and no casualties have so far been reported.

Upon receiving the information, rescue teams as well as law enforcement were quickly dispatched to the area and cordoned off the area.

A similar explosion also occurred in the same area on Saturday.

In December, at least 18 people had been killed after a building housing a private bank had collapsed due to an explosion caused by the accumulation of gases in the drain underneath in the Sheershah area.

A bomb disposal squad (BDS) in a report stated that the blast occurred due to the release of gases from the sewerage line beneath the building housing the bank and another office.

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KSE-100 closes in green despite rising inflation, import bill

The Pakistan Stock Exchange (PSX) started the new year with renewed optimism, led by heavy foreign buying, particularly in the technology sector. As a result, it gained 1.68% or 750 points, pushing up the benchmark KSE-100 index to 45,345.65 points over the past week.

Much-needed clarity about the supplementary finance bill and renewed expectations about the revival of the International Monetary Fund (IMF) loan programme tossed the benchmark KSE-100 index above the 45,000-point barrier after a hiatus of one month.

“A decline in trade deficit on a month-on-month basis, appreciation of Pakistani rupee against US dollar, and expectations of fresh funds allocation by foreigners in PSX improved investors' sentiments,” Arif Habib Limited stated in its weekly report.

During the week under review, the market players turned somewhat optimistic after the federal cabinet gave the green light to the State Bank of Pakistan autonomy bill to pave the way for the release of the next IMF loan tranche.

Meanwhile, the sessions of the Senate Standing Committee on Finance on the "mini-budget" further strengthened hopes for the resumption of the IMF programme which kept the investors' sentiment optimistic.

Moreover, the Pakistani rupee broke a prolonged losing streak and made a surprise recovery. The rebound proved positive for the stock market and propelled it higher.

Other major developments during the week were: inflation for the month of December 2021 clocked in at 12.3% year-on-year, total cement sales for last month were reported 4.2% lower year-on-year, the trade deficit widened by 85% year-on-year during December clocking in at $4.86 billion, and import bill expanded by 52% year-on-year to $7.6 billion.

Meanwhile, foreign buying was witnessed this week, clocking in at $24.2 million against a net buy of $8.1 million recorded last week. Buying was witnessed in technology ($22.5 million), and banks ($0.7 million).

On the domestic front, major selling was reported by individuals ($15.1 million), followed by mutual funds ($8.4 million).

During the week under review, average volumes clocked in at 318 million shares (up by 46% week-on-week), while average value traded settled at $57 million (up by 32% week-on-week).

On the news front, inflation for the month of Dec-2021 clocked in at 12.3% YoY, which is the highest since Feb-2020. Moreover, total cement sales for Dec-2021 were reported 4.2% lower YoY.

PBS revealed trade deficit data on Thursday where the deficit widened by 85% YoY during Dec-2021 clocking in at US$4.86bn, whereas the import bill expanded by 52% YoY to US$7.60bn.

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