Business
Pakistani rupee falls to yet another historic low against US dollar

The Pakistani rupee continued to tumble against the US dollar, breaching yet another important threshold of 196 in the interbank market to hit its weakest level on Tuesday, media reports said.
Maintaining its downturn for the eighth successive working day, the Pakistani rupee was being traded at Rs 195.74 against the greenback surpassing its last low, Geo News reported.
A persistent delay in the receipt of the next tranche of $1 billion from the International Monetary Fund (IMF) is mounting pressure on the rupee.
The situation is likely to remain uncertain for the local currency, Commodities Director Adnan Agar said as the local unit fell below 196-mark against the greenback during the trading session on Tuesday.
“If the government decides to remove subsidies on petroleum products, the rupee will bounce back,” he said, adding that the local unit will remain within the range of 180-185.
Agar, however, added that if the government decided to dissolve the Assembly and move towards early elections, the situation for the already tumbling currency market will deteriorate.
Since the beginning of this fiscal year (July 1, 2021) to date, the rupee has collectively dropped by a massive 24.24 per cent (or Rs 38.2) compared to the previous fiscal year’s close at Rs 157.54.
National
Delhi govt to present 100-day report card to Delhiites today

New Delhi, May 31: The Delhi government will present a detailed account of its achievements under the leadership of Chief Minister Rekha Gupta during a public event at the Jawaharlal Nehru Stadium on Saturday, marking the completion of its first 100 days in power.
The event is expected to serve both as a celebration of progress and a platform to engage with citizens, inviting feedback and suggestions for future governance.
The BJP government, which took office in February, marked the 100-day milestone on Friday by unveiling a 22-page workbook titled ‘Kaam Karne Wali Sarkar — 100 Din Seva Ke’ at the Delhi Secretariat.
Cabinet ministers Ashish Sood, Kapil Mishra, and Ravinder Indraj Singh were present during the launch of the document, which outlines key initiatives rolled out since the administration came to power.
For the BJP, which returned to power in Delhi after a gap of over 27 years, the workbook serves not only as a summary of completed tasks but also as a statement of intent.
The workbook details a wide range of efforts in sectors such as healthcare, education, infrastructure, and welfare.
It includes a Rs 1 lakh crore budget allocation for the implementation of the Ayushman Bharat Yojana, a Rs 5,100 crore provision for a Rs 2,500 monthly assistance scheme aimed at supporting underprivileged women, and the introduction of the Vay Vandana Yojana, which provides free healthcare for senior citizens.
The government also emphasised its commitment to transparency by tabling the Comptroller and Auditor General (CAG) reports in the Assembly.
Chief Minister Gupta described the completion of 100 days as a moment of “decisive” and “impactful” governance. She emphasised that the administration had worked tirelessly every day in service of Delhi’s two crore residents.
She noted that the workbook is a documentation not only of promises made but also of promises fulfilled.
Taking to X on Saturday, CM Gupta said, “When you gave me the opportunity to serve Delhi, it was not just a responsibility but a resolve to have politics centred on public service, and policies that are for public welfare.”
“In these 100 days, we have worked effectively towards realising every promise. Our priority was clear — a development that can be seen as well as felt. Cleanliness, security, women empowerment and e-governance — on every front, our endeavour has been to make Delhi a strong, safe and inclusive capital,” she added.
Gupta credited Prime Minister Narendra Modi’s vision for guiding the government’s actions.
“This has been possible only due to the inspiration, guidance and vision of ‘Sabka Sath, Sabka Vikas’ of respected Prime Minister Narendra Modi. The trust of the people of Delhi is my biggest strength. The foundation of change has been laid, the pace of development will not stop now,” she said.
Reaffirming her government’s commitment to sustained progress, she added, “Delhi will now continue to move forward with the resolve of good governance and service.”
The Delhi government will present a detailed account of its achievements under the leadership of Chief Minister Rekha Gupta during a public event at the Jawaharlal Nehru Stadium on Saturday, marking the completion of its first 100 days in power.
The event is expected to serve both as a celebration of progress and a platform to engage with citizens, inviting feedback and suggestions for future governance.
The BJP government, which took office in February, marked the 100-day milestone on Friday by unveiling a 22-page workbook titled ‘Kaam Karne Wali Sarkar — 100 Din Seva Ke’ at the Delhi Secretariat.
Cabinet ministers Ashish Sood, Kapil Mishra, and Ravinder Indraj Singh were present during the launch of the document, which outlines key initiatives rolled out since the administration came to power.
For the BJP, which returned to power in Delhi after a gap of over 27 years, the workbook serves not only as a summary of completed tasks but also as a statement of intent.
The workbook details a wide range of efforts in sectors such as healthcare, education, infrastructure, and welfare.
It includes a Rs 1 lakh crore budget allocation for the implementation of the Ayushman Bharat Yojana, a Rs 5,100 crore provision for a Rs 2,500 monthly assistance scheme aimed at supporting underprivileged women, and the introduction of the Vay Vandana Yojana, which provides free healthcare for senior citizens.
The government also emphasised its commitment to transparency by tabling the Comptroller and Auditor General (CAG) reports in the Assembly.
Chief Minister Gupta described the completion of 100 days as a moment of “decisive” and “impactful” governance. She emphasised that the administration had worked tirelessly every day in service of Delhi’s two crore residents.
She noted that the workbook is a documentation not only of promises made but also of promises fulfilled.
Taking to X on Saturday, CM Gupta said, “When you gave me the opportunity to serve Delhi, it was not just a responsibility but a resolve to have politics centred on public service, and policies that are for public welfare.”
“In these 100 days, we have worked effectively towards realising every promise. Our priority was clear — a development that can be seen as well as felt. Cleanliness, security, women empowerment and e-governance — on every front, our endeavour has been to make Delhi a strong, safe and inclusive capital,” she added.
Gupta credited Prime Minister Narendra Modi’s vision for guiding the government’s actions.
“This has been possible only due to the inspiration, guidance and vision of ‘Sabka Sath, Sabka Vikas’ of respected Prime Minister Narendra Modi. The trust of the people of Delhi is my biggest strength. The foundation of change has been laid, the pace of development will not stop now,” she said.
Reaffirming her government’s commitment to sustained progress, she added, “Delhi will now continue to move forward with the resolve of good governance and service.”
International
UN Security Council renews sanctions against South Sudan

United Nations, May 31: The Security Council adopted a resolution to renew for a year, until May 31, 2026, an arms embargo against South Sudan as well as targeted sanctions of travel ban and asset freeze against individuals and entities.
According to media reports, Resolution 2781, which was adopted with nine votes in favour and six abstentions, also extends until July 1, 2026, the term of the panel of experts, which assists the work of the South Sudan sanctions committee.
The African members of the Security Council — Algeria, Sierra Leone, Somalia — abstained, along with China, Pakistan and Russia.
The resolution reiterates the Security Council’s readiness to review arms embargo measures, through modification, suspension, or progressive lifting of these measures, in light of progress achieved on the key benchmarks as set out in Resolution 2577 of 2021, and encourages the South Sudan authorities to achieve further progress in this regard.
It also decides to keep the targeted measures under continuous review and expresses the Security Council’s readiness to consider adjusting the measures, through modifying, suspending, lifting or strengthening measures to respond to the situation.
The resolution requests the UN secretary-general, in close consultation with the UN Mission in South Sudan and the Panel of Experts, to conduct, no later than April 15, 2026, an assessment of progress achieved on the key benchmarks.
It also requests the South Sudanese authorities to report, by the same date, to the Sanctions Committee on the progress achieved in this regard.
Business
Trump to double steel tariffs to 50 pc from next week

Washington, May 31: US President Donald Trump has said that he planned to double tariffs on foreign imports of steel to 50 percent starting next week, further casting a cloud on steelmakers around the globe.
“We are going to be imposing a 25 per cent increase. We’re going to bring it from 25 per cent to 50 per cent — the tariffs on steel into the United States of America — which will even further secure the steel industry in the United States,” Trump said on X social media platform.
He later posted on social media that the higher tariff rate would take effect from June 4, Yonhap media reported.
“It is my great honour to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!” Trump wrote on his Truth Social platform.
The planned rate hike is the latest in his trade policies that focus on tariff hikes, and came days after a trade court ruled his sweeping reciprocal tariffs illegal, which was later blocked by an appeals court to leave the tariffs temporarily alive.
The 25-percent tariffs on most steel imported to the U.S. went into effect in March as part of the Trump administration’s broader tariff scheme aimed at reducing America’s trade deficits and bolstering local manufacturing.
Data showed earlier Seoul’s U.S.-bound exports of steel products declined nearly 19 percent from a year earlier in March.
Outbound shipments of steel products to the U.S. came to US$340 million in March, down 18.9 percent from the same month last year.
It is difficult to assess the impact of U.S. tariffs on Seoul’s steel exports as transactions are usually made months ahead, but there may still have been some influence.
Korean steelmakers have been devising response measures to the U.S. tariffs, with some companies planning to increase their production in the U.S.
Hyundai Steel Co. plans to invest $5.8 billion to construct an electric arc furnace-based steel mill in Louisiana by 2029, its first overseas production facility.
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