fake arms licence
| |

Fake arms licence racket busted in KP, two arreste…

ByJustpaste.in

Police have uncovered a fake arms licence racket in Khyber Pakhtunkhwa, exposing an illegal network that allegedly produced forged weapon licences from a house. Authorities believe the operation had been running through a well-organised system and involved both private individuals and a government employee.

According to police, the suspects were preparing counterfeit arms licences using computer equipment and printing materials inside a residential property. Investigators said each fake licence was sold for amounts ranging from Rs80,000 to Rs250,000, depending on the type of licence and the customer’s requirements.

Police said an employee of the Home Department’s Licence Branch has also been found involved in the case. His alleged role is being investigated to determine how official records or procedures may have been misused.

A case has been registered, and two suspects have been arrested during the operation. Police carried out a raid and seized a large quantity of equipment allegedly used to manufacture the fake licences.

The recovered items include a laptop, a printer, ink bottles, around 700 licence cards, and other materials believed to have been used for printing forged documents. Investigators are examining the seized equipment to identify additional suspects and uncover the full scale of the operation.

Police have also written to the Home Department, requesting assistance in the investigation. Officials are expected to examine departmental records to determine whether more employees were involved or if official data was misused.

Sources in the Home Department said a committee will be formed to conduct a detailed inquiry into the incident. The committee will investigate the role of all individuals linked to the case and recommend legal and departmental action where necessary.

CCPO Dr Mian Saeed said the investigation is progressing and that authorities are determined to bring everyone involved to justice. He said strict action will be taken against all suspects, including any government officials found responsible. He added that no official involved in the fake arms licence racket would be given any leniency, and the investigation would continue until the entire network is exposed.

Similar Posts

  • | |

    Rajab Butt claims his net worth has crossed Rs1 billion

    ByJustpaste.in

    LAHORE, July 26: Pakistani YouTuber and social media personality Rajab Butt has claimed that his net worth has crossed Rs1 billion, saying he officially became a billionaire last year. Butt made the claim during a podcast appearance where he was asked whether he considered himself a millionaire or a billionaire. The YouTuber responded by asking the host whether she understood the difference between the two terms. After the host confirmed that she did, Butt revealed that he had crossed the billionaire mark in terms of his wealth. According to Butt, his net worth has exceeded Rs100 crore, which is equivalent to more than Rs1 billion. He attributed his financial success to years of hard work and his career as a digital content creator. Butt has built a large following on YouTube and other social media platforms in a relatively short period. His content has also generated significant attention because of his publicly displayed lifestyle. The YouTuber has frequently shared glimpses of an expensive lifestyle with his followers. His social media presence has included luxury items, costly watches, international trips and lavish celebrations. His wedding also attracted considerable attention online and further increased public interest in his personal life and financial status. Butt said his reported wealth was not achieved overnight. He described it as the result of around 12 years of hard work. The rise of creators like Butt highlights the growing financial potential of Pakistan’s digital content industry. YouTube, brand promotions and other online platforms have created new opportunities for creators to build businesses and generate substantial income. However, Butt’s net-worth claim is based on his own statement during the podcast. No independent financial records were provided in the discussion to verify the figure.

  • | | |

    PM Shehbaz unveils bold Vision 2047 for Pakistan?…

    ByJustpaste.in

    Prime Minister Shehbaz Sharif has launched Vision Pakistan 2047, a long-term national development framework focused on economic growth, youth empowerment, employment, education, technology and sustainable development. Addressing a youth event in Islamabad, the prime minister pledged to do everything within his power for the prosperity and employment of young Pakistanis as long as he remained responsible for serving the country. Shehbaz said Pakistan’s founders built the country in 1947, while the Pakistan of 2047 would be shaped by the vision, energy and capabilities of its young generation. He urged students to prepare themselves to play a leading role in the country’s future development. Youth development is a major component of Vision Pakistan 2047. The government plans to expand opportunities in education, employment, entrepreneurship and technology so that young people can acquire skills required by the modern economy. The prime minister also announced Pakistan’s first national youth employment policy. Under the policy, women will have a 35 per cent share in the labour force, while 10 per cent of the allocation will be reserved for startups. The initiative aims not only to help young people find jobs but also encourage them to establish businesses and create employment for others. Shehbaz stressed that equal access to quality education was essential for building the welfare state envisioned by Quaid-e-Azam. He said talented children from villages and less-developed areas should receive opportunities comparable to those available to students from privileged backgrounds. The government plans to expand the Danish Schools network to Azad Jammu and Kashmir, Gilgit-Baltistan and Balochistan. The initiative is intended to provide quality education to deserving students without financial barriers. A Danish University is also being established in Islamabad, with classes expected to begin next year. The institution will focus on modern education and emerging disciplines. The prime minister said Pakistan must increase its focus on information technology, artificial intelligence and technical education to remain competitive globally. He said 1,000 students had already been sent to China for training in agricultural technology, while high-achieving students would receive opportunities for IT and AI education. The government has also distributed around 700,000 laptops among deserving students. Another 250,000 laptops are expected to be provided to high-achieving students this year. Vision Pakistan 2047 will be aligned with the government’s Uraan Pakistan programme. Ministries and relevant institutions have been directed to set long-term targets covering economic transformation, human capital, technology, innovation, governance and sustainable development. The broader objective is to create a competitive and inclusive economy and move Pakistan towards a trillion-dollar economic target while improving living standards and expanding opportunities for its young population. Chairman of the Prime Minister’s Youth Programme Rana Mashhood Ahmed Khan also addressed the gathering. He said the government was working continuously to create opportunities for young people and praised Shehbaz Sharif for initiatives taken for youth development.

  • |

    Samsung chip profit soars 250-fold as AI supply deals pile up

    ByJustpaste.in

    Samsung Electronics stunned markets on Thursday with news that its chip division’s profit had surged more than 250-fold. Alongside the results, the company revealed fresh multi-year supply agreements with major data center operators. It also warned that global chip shortages are likely to worsen and could persist well into 2028. That bold forecast, however, was not enough to calm investor nerves. Concerns remain high over the enormous sums tech firms are pouring into AI infrastructure. Samsung’s shares rose as much as 8.4 percent during trading before closing 0.7 percent lower. Even with that dip, the stock outperformed rival SK Hynix, which closed down a sharper 5.6 percent the same day. Kim Seok-hwan, a market analyst at Mirae Asset Securities, said sentiment around chipmakers has shifted. Investors, he noted, are increasingly unsure how long today’s unusually high profit margins can be maintained. This comes right after Samsung’s chip business posted a record-breaking 70 percent operating profit margin. Samsung revealed it has already struck supply agreements with the five biggest data center companies globally. The firm added that it is close to finalizing deals with five more major players, though it did not name them. Jaejune Kim, executive vice president of Samsung’s memory division, told analysts that nearly every client is now asking for long-term, multi-year contracts instead of short-term arrangements. According to Kim, Samsung wants roughly two-thirds of its memory output locked into long-term supply deals. This approach echoes similar moves by SK Hynix, both aiming to shield themselves from the industry’s usual boom-and-bust swings. These new contracts generally span at least five years and often include upfront payments along with guaranteed floor prices, helping companies manage the financial risk tied to heavy capital spending. This announcement follows several rough months for chip stocks, driven largely by investor unease over ballooning AI infrastructure costs and rising competitive pressure from Chinese chipmakers. Both factors have raised doubts about how sustainable current earnings levels really are. Adding to that unease, Meta Platforms disclosed a steep 91 percent drop in its second-quarter free cash flow on Wednesday. That followed an even more striking development from Alphabet the week before, which reported its first-ever quarter with negative cash flow. Together, these results have intensified questions across the industry about whether the current pace of AI spending can hold up much longer without straining company finances.

  • Train Collision in Spain Kills 45, Injures Dozens, Two more derailments on Tuesday 20th

    ByJustpaste.in

    MADRID – Spain is mourning after a high-speed train collision in the southern region of Andalusia killed at 45 people and injured dozens on late Sunday, in one of the country’s deadliest rail disasters in recent decades. Train Collides with Collapsed Crane in Korat, Killing at Least 32 The crash occurred near Adamuz when a […]

  • | | |

    FBR starts fiscal year strong with rs810 billion t…

    ByJustpaste.in

    ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) kicked off the new fiscal year on a positive note by surpassing its July tax collection target, although a shortfall in income tax receipts and the government’s decision to reject a key enforcement proposal highlighted the challenges that lie ahead. According to provisional figures, the FBR collected Rs810 billion in July, exceeding its monthly target by Rs30 billion. The collection also marked a 7% increase compared to Rs757 billion collected during the same month last year. The strong performance was largely driven by robust sales tax collections, which reached Rs358 billion, surpassing the target by Rs53 billion and recording an 18% year-on-year increase. A significant 78% of total sales tax, amounting to Rs275 billion, was collected at the import stage, where tax compliance is generally higher. However, income tax collection remained below expectations. The FBR collected more than Rs300 billion in income tax, falling Rs23 billion short of the target. Analysts attributed the shortfall to advance tax collections made in June to meet last fiscal year’s revised revenue goals, along with reduced withholding tax rates for salaried individuals and property transactions introduced in the latest federal budget. Meanwhile, customs duty collection stood at Rs105 billion, matching the target, while federal excise duty generated Rs48 billion, slightly exceeding expectations. The July performance marks the beginning of a crucial fiscal year in which the government has committed to collecting Rs15.263 trillion in taxes under an agreement with the International Monetary Fund (IMF). Meeting the annual target is considered essential for securing future IMF loan disbursements and creating fiscal space for development, defence and water resource projects. The FBR also reported encouraging progress in tax compliance, receiving around 227,000 income tax returns during July after updated tax return forms became available. Additionally, the authority issued Rs98 billion in tax refunds, approximately Rs13 billion more than in the same period last year. Despite the positive revenue performance, the federal cabinet declined an FBR proposal to activate restrictions on high-value purchases by individuals with insufficient declared assets. Had the proposal been approved, it would have limited the purchase of luxury vehicles, expensive properties, large stock investments and major cash withdrawals by non-compliant taxpayers. Economic observers say the government’s ability to sustain monthly revenue growth will be closely watched, as consistent tax collection remains critical to maintaining fiscal stability and meeting commitments under Pakistan’s economic reform programme.

  • |

    PSX rallies above 181,000 as investors return to key sectors

    ByJustpaste.in

    KARACHI: Positive momentum returned to the Pakistan Stock Exchange (PSX) on Monday as investors stepped up buying activity across major sectors, pushing the benchmark KSE-100 Index above the 181,000-point mark during the opening phase of trading. At around 9:40am, the benchmark index was trading at 181,066.59 points, showing an increase of 961.98 points, or 0.53%, compared with the previous close. The early-session recovery reflected renewed investor interest in large-cap and index-heavy companies. Buying was particularly visible across automobile assemblers, cement, commercial banking, fertiliser, oil and gas exploration, oil marketing companies (OMCs), power generation and refinery sectors. Among the major stocks supporting the upward movement were Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Hub Power Company (HUBCO), Habib Bank Limited (HBL), MCB Bank, Meezan Bank Limited (MEBL) and United Bank Limited (UBL). Most of these index-heavy shares traded in positive territory during the initial hours. The recovery came after a difficult week for the domestic equity market. The KSE-100 Index had closed the previous week at 180,104.61 points, declining by 1,325.41 points, or 0.7% on a week-on-week basis. Market sentiment had been affected by heightened geopolitical uncertainty, particularly concerns over the future of the US-Iran ceasefire and the potential impact of regional tensions on international energy supplies. Investors also remained cautious over developments affecting shipping activity around the Strait of Hormuz and the Red Sea, both of which are critical routes for global energy and trade. Despite the pressure on equities, Pakistan’s domestic fiscal position and external-sector indicators had provided some support to investor confidence. However, geopolitical developments continued to dominate trading decisions, particularly because any prolonged disruption to oil supplies could raise import costs and increase inflationary pressures. Global markets remain cautious The cautious mood was also evident across international markets on Monday. Asian equities moved largely sideways as investors monitored developments in the Middle East and assessed the implications for energy prices and global inflation. Oil prices recorded significant gains during the previous week as uncertainty surrounding efforts to end the Iran conflict increased concerns about potential supply disruptions. Investors remained particularly focused on developments concerning the strategic Strait of Hormuz, where tanker traffic had remained disrupted amid the continuing tensions. Iran on Saturday called on the United States to acknowledge defeat, while US President Donald Trump warned Americans that higher gasoline prices could persist as long as the conflict continued. The situation in the wider region also remained volatile. In southern Lebanon, Israeli strikes on Saturday killed at least 11 people, according to the Lebanese health ministry. The casualties came amid renewed tensions following an earlier US-mediated framework aimed at easing hostilities between Lebanon and Israel. Oil prices remain elevated Crude oil prices remained at elevated levels on Monday after recording strong gains during the previous week. Brent crude was trading around $88.50 per barrel, little changed during the session after climbing approximately 6% last week. Meanwhile, US West Texas Intermediate (WTI) crude slipped around 0.3% to $82.12 per barrel, following a weekly gain of about 5.4%. Higher international oil prices remain a key concern for oil-importing economies such as Pakistan because a sustained increase can widen the import bill, put pressure on the current account and contribute to domestic inflation. For investors at the PSX, developments in global energy markets are particularly important because oil and gas companies have significant representation in the benchmark index, while higher fuel costs can also affect the profitability of other industries. Asian equities mixed In regional markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was broadly flat on Monday. Japan’s Nikkei 225, meanwhile, gained around 0.4%. The mixed performance reflected investor caution as markets continued to assess the potential economic consequences of prolonged geopolitical tensions. Concerns over energy prices, inflation and interest-rate expectations remained central to global market sentiment. At the PSX, however, the strong opening suggested that domestic investors were willing to look beyond short-term geopolitical concerns and accumulate fundamentally strong stocks. Whether the KSE-100 can sustain its early gains will depend on developments in global oil markets, regional tensions and trading activity in heavyweight sectors as the session progresses.

Leave a Reply

Your email address will not be published. Required fields are marked *