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How online trading apps are draining Pakistanis’ savings | The Express Tribune

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How online trading apps are draining Pakistanis’ savings | The Express Tribune



KARACHI:

Pakistan’s financial regulators face a growing challenge from the rapid spread of unregulated online investment and trading apps. These apps promise easy profits but often result in financial losses, data theft, and negative impacts on the economy.

The proliferation of such platforms, many operating beyond the oversight of the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP), has raised serious concerns about investor protection and the integrity of the country’s financial system.

“With the increasing penetration of broadband internet service and its users, cybercrimes are on the rise in Pakistan and worldwide, causing monetary losses to consumers and building mistrust about legal digital services,” said Ibrahim Amin, a banking and financial expert.

The case of Ducky Bhai, a popular social media influencer, illustrates the issue vividly. Initially known for his humorous roasting videos, he transitioned to gaming and then family vlogging before venturing into app promotions, including investment and trading apps that turned out to be illegal.

When authorities discovered his involvement in promoting these platforms, he was apprehended. Officials stated that these apps, while appearing to offer investment opportunities, were often thinly disguised betting or gambling services.

According to the SECP, such promotions violate investment laws, particularly those prohibiting advertisers from guaranteeing or implying assured returns. Many influencers, however, continue to promote these apps under the guise of “financial opportunities,” often motivated by affiliate commissions or kickbacks.

This trend reflects a dangerous combination of financial illiteracy and misleading marketing, exposing millions of users to scams and unregulated investment channels. 

Crackdown on illegal apps 

In a major development, the National Cyber Crime Investigation Agency (NCCIA) recently declared 46 mobile applications and websites, including betting, forex, and online trading platforms, illegal in Pakistan.

The list included popular global names like 1xBet, Aviator, Dafabet, and Bet365. The Pakistan Telecommunication Authority (PTA) subsequently blocked these applications to safeguard users from fraud, data theft, and identity misuse.

Unregulated investment apps continue to attract millions of Pakistani users. The allure lies in their convenience, easy-to-use interfaces, and promises of high returns with minimal effort. “These apps are designed to look simple and exciting – you just download and start earning. But what users don’t realise is that there’s no legal protection if things go wrong,” said fintech analyst Mutaher Khan, Co-Founder of Data Darbar.

The numbers are staggering. Olymp Trade, for instance, has amassed over 5.6 million downloads in Pakistan. Even if only 5% of these are active users, that still exceeds half the number of investors in the Pakistan Stock Exchange (PSX).

Similarly, IQ Option has been downloaded 3.9 million times in Pakistan, placing the country sixth globally, behind India and Brazil. Binance, the cryptocurrency platform, has recorded 14.2 million downloads from Pakistan since 2017, making the country its second-largest market by downloads after India.

In the finance apps category, the most downloaded app is EasyPaisa with 12.1 million downloads, followed by JazzCash with 10.4 million, and Binance with 5.4 million – despite not being regulated in Pakistan.

In e-commerce, Temu is the most downloaded app with 8 million downloads in its debut year, followed by Daraz with 7.7 million. The irony, experts note, is that Daraz is a regulated platform, while Temu is not registered or regulated in Pakistan, which indicates the state of regulation in the country.

Such popularity reflects both the public’s interest in quick financial gains and the lack of accessible, appealing, and well-marketed regulated investment options. “The cybercrimes could be controlled through raising awareness among users and taking strict action against criminals within and beyond borders,” said Amin.

Deputy Chief of the Citizens-Police Liaison Committee (CPLC) Sindh, Shabbar Malik, said scams have been reported nationwide and, in certain regions, have developed into “organised, patronised systems” that coordinate such activities.

Malik emphasised that tackling the issue requires joint responsibility between the government and the public. “Half the responsibility lies with the authorities, and the other half with citizens. People must be made aware and learn to be smart when using digital devices,” he said.

Experts warn that unregulated investment platforms pose not just individual risks but also macroeconomic threats. Since many of these apps facilitate trading in foreign assets or  cryptocurrencies, they contribute to dollar outflows, a serious concern for a country with fragile foreign exchange reserves of less than $20 billion.

“When Pakistanis invest in offshore assets through these apps, it drains dollars out of the system. With reserves hovering around $20 billion, even modest outflows can exacerbate pressure on the rupee and the balance of payments,” explained an economist at a Karachi-based think tank.



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IndiGo flight cancellations: India’s duty norms stricter than global standards, says IATA chief – The Times of India

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IndiGo flight cancellations: India’s duty norms stricter than global standards, says IATA chief – The Times of India



India’s recently introduced flight duty regulations for pilots are significantly stricter than those in many other countries, but operations are expected to stabilise over time, International Air Transport Association (IATA) Chief Willie Walsh said.His remarks follow a week of major disruptions at IndiGo, India’s largest airline, which saw hundreds of flights cancelled and thousands of passengers affected. The lack of careful planning during the rollout of the second phase of the Flight Duty Time Limitations (FDTL) norms, which came into effect on November 1 is possibly the main reason for the disruption. Operations at the airline are now nearing normalcy.“The new Indian regulations appear to be much more restrictive than those in other jurisdictions but I think you have got to always recognise that regulators have a responsibility to ensure that the industry is safe and secure. The changes have been implemented, I think for the right reasons. It is just a matter of time now before it settles down,” Walsh said, as quoted by PTI.Speaking at a media session in Geneva, Walsh noted that pilot fatigue rules are a topic of ongoing discussion in Europe and the United States. “India has decided that they want to take measures, particularly around potential fatigue around night time operations, which instinctively would have a greater impact on low-cost carriers, given their business model… it is disappointing that so many consumers have been impacted as a result of this change,” he said.The second phase of the FDTL regulations also limits the number of night landings a pilot can conduct, affecting airlines like IndiGo. In response, India’s civil aviation ministry announced a 10 per cent reduction in the carrier’s winter flight schedule to help stabilise operations.“During the last week, many passengers faced severe inconvenience due to IndiGo’s internal mismanagement of crew rosters, flight schedules and inadequate communication,” Civil aviation minister K Rammohan Naidu said Tuesday, as quoted by PTI.The IATA represents nearly 360 airlines worldwide, accounting for over 80 per cent of global air traffic. Its members include major Indian carriers such as IndiGo, Air India, Air India Express, and SpiceJet.





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India’s First Vande Bharat Sleeper To Run Between Patna And New Delhi: 1,000 Kms In 8 Hours, 160 Kmph Speed, Luxury Amenities – Reports

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India’s First Vande Bharat Sleeper To Run Between Patna And New Delhi: 1,000 Kms In 8 Hours, 160 Kmph Speed, Luxury Amenities – Reports


Delhi-Patna Vande Bharat Sleeper: Indian Railways passengers have been waiting eagerly for the new luxurious Vande Bharat Sleeper Express, which has been in the final stages of roll out and is being given final touches at the BEML factory. Passengers travelling between Patna and New Delhi are set to get a completely new travel experience as the much-awaited Vande Bharat Sleeper Train is expected to begin operations this month. The train promises the speed of Tejas, the comfort of Rajdhani, and the advanced technology of Vande Bharat — all in a sleeper configuration for the first time.

Designed for high-speed night travel, the train is being positioned as a premium option for long-distance passengers.

Trial Runs to Begin Soon

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Two rakes of the Vande Bharat Sleeper Train are being manufactured at the BEML factory in Bengaluru. The first rake is expected to be ready and dispatched by December 12, after which trial runs will begin on the Patna–New Delhi route, reported Dainik Bhaskar. The train will cover around 1,000 kms in around eight hours.


Railways plan to start regular services before the New Year. The train is expected to run six days a week, departing Patna in the evening and arriving in Delhi the next morning. The return service will follow the same overnight schedule, reported Prabhat Khabar.

Speed and Performance Highlights

The train is designed to run at an operational speed of 160 km/h, with a maximum speed capability of 180 km/h. According to railway officials, the ride will be so stable that even tea kept in a cup will not spill while the train is running at full speed.


One of its key strengths is rapid acceleration and braking, allowing it to cover distances faster and reduce time spent stopping and restarting at stations.

Coach Composition and Seating Capacity

The Vande Bharat Sleeper Train will have 16 coaches with a total capacity of 827 passengers:

* 11 coaches of AC 3-tier (611 berths)

* 4 coaches of AC 2-tier (188 berths)

* 1 coach of AC 1st Class AC (24 berths)

Railways may increase the number of coaches in the future based on passenger demand. Ticket prices are expected to be around the fare of the Rajdhani Express.


Current Status of Vande Bharat Trains in India

At present, 164 chair-car Vande Bharat Express trains are operating across India. These semi-high-speed trains are manufactured at the Integral Coach Factory (ICF) in Chennai and have received strong passenger response.

Due to growing demand for comfortable long-distance night travel, the sleeper variant has been developed, with the Patna–Delhi route likely to be among the first to get this service.

What the Railway Minister Said

Union Railway Minister Ashwini Vaishnaw recently told the Lok Sabha that the sleeper version of the Vande Bharat train has been indigenously designed for medium and long-distance overnight journeys.

He said that two rakes have been produced and are currently undergoing trials and commissioning.


Key Features and Facilities in Vande Bharat Sleeper Train

The interior of the train is designed to provide a premium airline-like and hotel-style experience. Major facilities include:

Passenger Comfort Features

* USB-integrated reading lamps for night-time reading

* Real-time passenger information system with audio and video updates

* High-speed Wi-Fi and onboard infotainment system

* Modular pantry unit for freshly prepared onboard meals

* Touch-free bio-vacuum toilets

* Hot water shower facility in First AC coaches

* Ergonomic ladders for upper berths

* PRM-friendly berths and toilets for elderly and differently-abled passengers

Advanced Safety and Security Systems

* KAVACH anti-collision technology to prevent train accidents

* Integrated emergency talk-back units for direct communication with train crew

* Fully sealed gangways between coaches to prevent dust and enhance safety

* Automatic plug doors that close before departure

* CCTV surveillance in every coach to deter theft and ensure passenger safety

Timings of the Vande Bharat Sleeper Train

The train will run six days a week:

* Evening departure from Patna, Morning arrival in New Delhi

* Evening departure from New Delhi, Morning arrival in Patna

The Vande Bharat Sleeper has been specially designed to offer high speed, superior comfort, and a premium travel experience for overnight journeys.



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Drug rebate rate cut by over a third after zero-tariff deal with US

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Drug rebate rate cut by over a third after zero-tariff deal with US



Rebates paid by drugs firms to the NHS are being cut by more than a third next year following the recent tariff deal with the US.

The Government said the rebate costs for companies – the proportion of revenues from new branded medicine sales that drugs firms must pay back into the NHS – would fall to 14.5% in 2026 from 22.9% this year.

It comes after the UK-US tariff deal earlier this month, which will see zero tariffs on British pharmaceutical products imported into the US in return for the NHS raising spending on medicines.

As part of the deal, it was also agreed that repayment rates on NHS drug prices would be capped at 15% for the first three years.

This is the amount that drugs firms pay back to the NHS to ensure it does not overspend its allocated budget for branded medicines.

The Government said it is able to offset the lower rebate thanks to falling costs for medicines, in part driven by drugs coming off patent.

But Downing Street admitted soon after the trade deal that the agreement to increase the threshold for what the NHS can pay for new medicines by 25% will cost it around £1 billion extra a year by 2029.

The Association of the British Pharmaceutical Industry (ABPI) said the “high and unpredictable” rebate costs had been a “significant drag on UK life science competitiveness in recent years”.

Richard Torbett, chief executive of the ABPI, said: “It’s good that the amount of revenue companies will need to pay to the UK government has come down in 2026.”

He added: “However, this is only the first step in returning the UK to a more competitive position.

“Payment rates remain much higher than in similar countries, and there is work to do to accelerate the NHS’s adoption and use of cost-effective medicines to improve patient care.”

The Department for Health said the lower rebate costs should also make the UK an attractive place for investment by pharma firms, clinical trials and the early launch of new medicines.

Health innovation minister Dr Zubir Ahmed said that together with the tariff deal, “this will help secure and drive investment in the sector, ensuring Britain remains a powerhouse for life sciences for the benefit of our patients, our NHS and our economy”.

Science minister Lord Vallance added: “We need our brilliant life sciences companies to discover and get important new medicines to patients right across the NHS and to create jobs in the UK.

“This new rate helps achieve that.”



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