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Karachi, May 29: Investigators and rescue officials have found around Rs 3 crore in cash in the wreckage of the Pakistan International Airlines' aircraft that crashed wth 99 people on board, killing 97 people, including nine children.

Flight PK-8303 from Lahore to Karachi crashed in a residential area near Karachi International Airport on Friday, with only two passengers miraculously surviving the crash.

Investigators and rescue officials have found currencies of different countries and denominations worth around Rs 30 million from the aircraft's wreckage, an official said on Thursday.

"An investigation has been ordered into how such a huge amount of cash got through airport security and baggage scanners and found its way into the ill-fated flight," the official said.

He said that the amount was recovered from two bags in the wreckage.

"The process of identifying the bodies and their luggage which will be handed over to their families and relatives is going on," he said.

A total of 97 people including the aircraft crew died in the crash, one of the most catastrophic aviation disasters in Pakistan's history.

A government official said on Thursday that the identification of 47 bodies had been completed, while 43 bodies were handed over for burial.

Friday's accident was the first major aircraft crash in Pakistan after December 7, 2016 when a PIA ATR-42 aircraft from Chitral to Islamabad crashed midway. The crash claimed the lives of all 48 passengers and crew, including singer-cum-evangelist Junaid Jamshed.

May 6: In a first, a Pakistani Hindu youth has become the first person from the minority community to join the Pakistan Air Force.

Rahul Dev has been recruited as a General Duty Pilot Officer, the Pakistan Air Force (PAF) said in a tweet.

Dev hails from Tharparkar district of Sindh province.

Sharing the picture of the young man, the PAF recently tweeted, "Good news during #COVID19 tense situation. Thar rocked again...Congratulations #RahulDev who hails from very remote village of Tharparkar has been selected as GD Pilot in #PAF."

Though Dev's exact age is not known, those inducted in PAF at his level are often around 20.

The official Radio Pakistan on Wednesday said it is "for the first time in Pakistan's history" that a Hindu youth has been recruited as a general duty pilot officer in PAF.

The Express Tribune in a report published on Wednesday said the induction showed that the PAF was breaking barriers.

Last year, Kainat Junaid became the first woman from Khyber-Pakthunkhwa province to have been selected for fighter pilot training.

Junaid not only secured the top position in PAF's test for General Duty Pilot, but also became Pakistan’s first female fighter pilot to serve the country alongside her father.

Her father Ahmed Junaid is a Squadron Leader in the PAF.

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.