GOVT BRINGING REFORMS IN ENERGY SECTOR TO REDUCE ELECTRICIT Y TARIFF: PM
PM directs Power Division to resolve K-Electric’s payment issues
g SECP WA S DIRECTED TO EXAMINE LEGALITY OF KE'S SHAREHOLDING AND REPORT BACK TO SIFC
Prime Minister Shehbaz Sharif has instructed the Power Division to develop a comprehensive solution for settling the long-standing receivables and payments between K-Electric (KE) and various government entities This directive was issued during a recent meeting focused on power sector issues According to a news report the Power Division and the Cabinet Division, which oversees NEPRA, will collaborate to expedite the resolution of KE’s tariff and claims issues NEPRA has announced hearing dates for KE’s tariffs Regarding shareholding matters the Prime Minister directed the Securities and Exchange Commission of Pakistan (SECP) to examine the legality of KE’s shareholding and report back to the Special Investment Facilitation Council (SIFC) It was also decided to conduct competitive bidding for Category-III wind Letter of Interest (LoI) holders to procure 300 MW for KE The Private Power and Infrastructure Board (PPIB) prepared draft RFP documents and sent them to KE in March with approval timelines set for June and August 2024 At the meeting NEPRA s Chairman stated that KE s write-off claims are under evaluation and efforts are being made to resolve these issues promptly Recovery losses, common in other distribution companies, are managed through circular debt or consumer surcharges KE s CEO informed that the company s Multi-Year Tariff (MYT) expired on June 30 2023 and new tariff petitions have been filed with NEPRA On this matter, the Chairman of NEPRA assured that the tariff determination process for the postJune 2023 period would be expedited The Secretary of Power Rashid Langrial presented KE s Indicative Generation Plan, which includes several projects converting units to 100% Thar Coal These projects involve JPCL Coal Units a new Thar Coal Power Project and the conversion of HUBCO and Port Qasim Electric Power Company Limited units to Thar Coal The Secretary of Power also requested changes to the Government of Pakistan’s board members in KE’s Board of Directors noting that a stay order from the Sindh High Court does not apply to government board members Key decisions from the meeting included NEPRA resolving KE’s issues, approving the conversion of JPCL Unit-I to Thar Coal and KE assisting in changing the government board members in its Board of Directors
GWADAR
S TA F F R E P O R T President Asif Ali Zardari on Thursday called for enhancing the capacity of the Law Enforcement Agencies (LEAs), posting competent officers in Balochistan, and improving the prosecution mechanism to effectively counter terrorist elements in Balochistan The president expressed these views while chairing a meeting on the security/law and order situation in Balochistan, in Gwadar, on Thursday Minister for Interior Mohsin Raza Naqvi Chief Minister Balochistan Mir Sarfraz Ahmed Bugti, MNA Malik Shah Gorgaij, Home Minister, Mir Ziaullah Langov, MPA Maulana Hidayat-urRehman, senior civil and military officials attended the meeting
The president was briefed about the overall security situation of the province as well as the role of LEAs in successfully countering terrorist attacks in various districts of Balochistan
phasized that the prosecution system needed to be improved so that the terrorist elements could not escape justice He said that compensation for the families of martyrs of LEAs in Balochistan should be enhanced bringing it at par with the rest of the provinces The president said that competent and brave police officials needed to be posted in Balochistan that would help improve the lawand-order situation of the province President Zardari for enhanced capacity of LEAs to counter terror in Balochistan
It was further apprised that the initiatives taken by the LEAs had resulted in improving the security situation in the province The president was informed that the provincial government was taking steps to provide fool-proof security to Chinese and foreign nationals He appreciated the efforts of the provincial government as well as the sacrifices of the LEAs in combatting terrorism The president em-
It was informed that the provincial government had adopted a targeted approach to improve the security and law-and-order situation in Balochistan
ects in the PPP-led Sindh
the PPP has not become part of the federal cabinet the party supported the PML-N-led in forming government after the February 8 elections The prime minister highlighted that the macroeconomic indicators with regard to the country’s economy were showing encouraging growth while historic boom in the stock market was the endorsement of the government s budget by the business community He said all political parties should work together for the country’s development prosperity and public welfare He said that in the budget 2024-25 steps were taken to provide maximum relief to the people It was agreed in the meeting that further consultation would continue through parliamentary committees
During the meeting the insiders said Bilawal voiced his reservations over the federal government s nonseriousness towards different proj-
They added that the PPP chief complained to the premier about its administration for not taking his party’s confidence in decision-making, including the Public Sector Development Programme (PSDP) and budget proposals
It also emerged that both sides discussed the PPP s inclusion in the federal cabinet and power-sharing in Punjab during the meeting which was also attended by senior leaders Bilawal also complained that the ruling party failed to implement the agreement reached with his party wherein the former supported the latter in the formation of a coalition government, the sources added
Moreover, the PPP chief also accused Chief Minister Maryam Nawaz-led administration of creating hurdles for his party in Punjab the sources said adding that Premier Shehbaz agreed on most of the concerns raised by Bilawal and formed separate committees to address those complaints The sources said that the committees will hold more rounds of talks tomorrow to take forward the matters
In par tnership with Profit Fr i d a y, 2 1 J u n e , 2 0 2 4 I | 1 4 Z i l - H a j j , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 3 5 0 I 8 Pa g e s I I s l a m a b a d E d i t i o n PR OFIT A P P P R I M E Minister Muhammad Shehbaz Sharif on Thursday said the government was bringing reforms in the energy sector to reduce electricity tariff He was talking to a delegation of foreign experts in the energy sector led by former Georgian Prime Minister Nika Gilauri which called on him at the PM House The prime minister said that circular debt, line losses and electricity theft were the major challenges in Pakistan’s energy sector Emphasizing the importance of energy sector for the country s economic growth and development, he expressed his government’s commitment to implement policies for reducing circular debt and improving the efficiency of electricity bill collection personnel He said privatization and outsourcing of the power distribution companies was the top priority of the government The prime minister expressed his government s desire to promote alternative energy sources, particularly solar energy, and reduce reliance on expensive energy sources He said the government would also promote public private partnership in the energy sector The prime minister directed the federal ministers to consult with the delegation regarding the basic reforms of the country’s energy sector and to evolve a comprehensive strategy regarding the reforms immediately Minister for Planning and Development Ahsan Iqbal Finance Minister
Power
relevant high
meeting
Muhammad Aurangzeb, Petroleum Minister Musadik Malik,
Minister Awais Ahmed Khan Leghari, Minister of State for Finance Ali Pervaiz Malik and
officials attended the
C O N T I N U E D O N PA G E 03 Armed men kidnap 10 Punjab residents from Quetta’s picnic point QUETTA S TA F F R E P O R T Unidentified armed men kidnapped 10 people hailing from Punjab from Shuban picnic point in Zarghoon Ghar area of the provincial metropolis, DG Levies and security officials confirmed on Thursday According to DG Levies, armed men took 16 people hostage who were enjoying picnic at Shuban area in Zarghoon Ghar “The armed men later released six hostages after checking their Computerized National Identity Cards (CNICs) the DG added He elaborated that the ten abducted people, including a Customs Officer, are residents of Punjab province The authorities have yet to provide further details regarding the incident According to security officials the incident took place at the tourist spot Shaban in the suburbs area of Zarghoon in Quetta where a large number of armed individuals surrounded the picnic point and checked the ID cards of the visitors The search for the abductees has begun by the law enforcement agencies A similar incident occurred last year in Zarghoon where armed individuals abducted people from Punjab after verifying their identities Last year, six labourers from Punjab were shot dead and two others were injured by unknown armed assailants in the Satellite area of Kech in Turbat district According to police, some unknown armed persons barged into the house of a local constructor Naseer 120 kilometers (75 miles) east of the border with Iran The criminals committed the heinous crime leaving six laborers dead and two injured, police officials said Six were killed on the spot while the remaining two are critically injured,” a local administration official said ISLAMABAD S TA F F C O R R E S P O N D E N T In a bid to ease out political tensions among ruling coalition partners over the matter of federal budget 2024-25, Prime Minister Shehbaz Sharif on Thursday assured Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari of taking steps to address the key ally s reservations on multiple issues The assurance was given during a delegation-level meeting held between the ruling coalition partners Pakistan Muslim League-Nawaz (PML-N) and the PPP in the federal capital after the latter lodged a token protest during the recent National Assembly session last week as Finance Minister Muhammad Aurangzeb had unveiled budget 2024-25 Federal ministers Ishaq Dar Rana Sanaullah Attaullah Tarar Khawaja Saad Rafique Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb attended the huddle From PPP’s side, Raja Pervaiz Ashraf Khursheed Shah and Sherry Rehman participated in the meeting Party sources told media that Bilawal shared with PM Shehbaz his party s reservations on behalf of his party which is the key ally of the incumbent PML-N administration in the Centre Although
P M r e a s s u r e s B i l a w a l o f a d d r e s s i n g P P P ’ s c o n c e r n s o v e r B u d g e t 2 0 2 4 - 2 5 PR OFIT M
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PBC warns tax hikes could worsen Pakistan’s ‘brain drain’ crisis
Fr day 21 June 2024 | SLAMABAD 02 NEWS PR OFIT R e u t e R s I n d i a ’s F i n a n c i a l I n t e l l i g e n c e U n i t ( F I U ) h a s i m p o s e d a f i n e o f $ 2 2 5 m i l l i o n o n t h e w o r l d ’s largest crypto exchange Binance for operating in t h e c o u n t r y i n v i o l a t i o n o f l o c a l a n t i - m o n e y laundering regulations I n d i a r e q u i r e s v i r t u a l d i g i t a l a s s e t s e r v i c e p r o v i d e r s l i k e c r y p t o e x c h a n g e s t o b e r e g i s t e r e d w i t h t h e F I U a s a r e p o r t i n g e n t i t y a n d c o m p l y w i t h i t s a n t i - m o n e y l a u n d e r i n g r u l e s B i n a n c e d i d n o t i m m e d i a t e l y r e s p o n d t o a n e m a i l s e e k i n g c o m m e n t In May Binance had registered with the FIU as the exchange sought to resume operations in the country after the watchdog issued show-cause notices to nine offshore exchanges operating in violation of local rules The watchdog had also asked the ministry of electronics and information technology to block online access to the exchanges Crypto exchange KuCoin had registered with FIU in March but faced a smaller penalty amount of 3 45m Indian rupees Canada s anti-money laundering agency had also imposed a fine of $4 38m on Binance in May for violation of anti-money laundering rules Changpeng Zhao, the former chief executive of Binance, was sentenced to four months in prison in May by US District Judge Richard Jones in Seattle after pleading guilty to violating the country’s laws against money laundering I n d i a n f i n a n c i a l watc h d o g i m p o s e s $ 2 . 2 5 m p e n a l t y o n c r y p to exc h a n g e B i n a n c e PR OFIT N e w s D e s k
HE CEO of Peshawar Electric Supply Company Limited (PESCO) has condemned the attacks on the grid stations by public representatives, which has resulted in significant financial losses In a letter dated June 19, 2024, addressed to the Managing Director of Power Planning and Monitoring Company
in Islamabad the CEO expressed deep concern over recent incidents During Eid holidays, MNAs Fazle Elahi and Arbab Aamer Ayub, along with their supporters forcibly activated 11KV highloss feeders at the 132KV Grid Stations Rehman Baba and Kohat Road This unauthorized action caused substantial financial harm to PESCO, as highlighted in the letter The CEO further reported that MNA Zulfiqar and others repeated similar actions at the 132KV Grid Stations Taru Jaba and Pabbi They not only energized feeders against regulations but also incited mobs, creating an intimidating atmosphere for station staff In a separate incident MNAs Wasim and Arshad Nazim Glozai disrupted operations at the 132KV Grid Station Dalazak blocking the motorway and disrupting public travel Additionally, Mayor Inam Mathra unlawfully accessed the 132KV Grid Station Warsak during Eid, illegally activating high-loss feeders and shifting burdensome areas to more stable lines The CEO emphasized that such incidents are becoming routine, with elected officials and their supporters unlawfully entering grid stations and activating high-loss feeders This not only results in financial losses for PESCO and the state but also poses serious risks to station equipment due to inexperienced handling of switchgear PESCO has urged for immediate action, requesting that First Information Reports (FIRs) be filed against the responsible Members of National and Provincial Assemblies These incidents have sparked public outrage, prompting severe criticism from the Chief Minister of Khyber Pakhtunkhwa regarding electricity load shedding during Eidul Azha exacerbated by a heatwave To address the crisis Federal Interior Minister Mohsin Naqvi and KPK Chief Minister held discussions, agreeing to further consultations on the issue of load shedding in the coming days P
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PR OFIT M o N to R i N g D e s k The Pakistan Business Council (PBC), the largest advocacy platform for corporations in the country has issued a stark warning regarding proposed tax hikes on salaried workers predicting a significant exacerbation of the brain drain phenomenon in Pakistan In a letter dated June 20, 2024, the PBC expressed serious concerns about the potential negative impacts stemming from the proposed budgetary measures According to the Pakistan Economic Survey 2023-24 there was a staggering 119% increase in the number of highly skilled individuals leaving Pakistan for employment abroad, rising from 20,865 in 2022 to 45,687 in 2023 The survey also noted increases of 26 6% and 2 28% in highly qualified and semi-skilled trades respectively during the same period Conversely there
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was an 8 7% rise in emigration among unskilled categories “The 119% surge in emigration
premature application of the 35% top rate, are poised to exacerbate this brain drain ” cautioned the PBC T h e s e c o n c e r n s a r i s e i n t h e c o n t e x t o f r e c e n t g o v e r n m e n t d e c i s i o n s t o i n c r e a s e t a x o b l i g a t i o n s f o r i n d i v i d u a l s e a r n i n g a b o v e R s 5 0 0 0 0 p e r m o n t h i n t h e 2 0 2 4 - 2 5 B u d g e t N o t a b l y t h e F i n a n c e B i l l 2 0 2 4 i n d i c a t e s t h a t t h e h i g h e s t i m p a c t w i l l a ff e c t t h o s e e a r n i n g R s 6 m i l l i o n o r m o r e a n n u a l l y ( e q u i v a l e n t t o R s 5 0 0 0 0 0 p e r m o n t h ) w i t h t h e i r t a x l i a b i l i t y i n c r e a s i n g b y R s 2 2 5 0 0 I n t e r e s t i n g l y e v e n s a l a r i e d p e r s o n s e a r n i n g u p t o R s 1 2 m i l l i o n a n n u a l l y (Rs1 million per month) face the same t a x h i k e o f R s 2 2 5 0 0 Additionally, the PBC highlighted the adverse consequences for the formal sector as skilled professionals transition to the informal economy which is not subject to taxation The council criticized the proposal to augment tax revenues from this sector as unjust While the government can print money or borrow to finance salary hikes of 20-25% for its employees, the private sector faces severe ramifications from increased brain drain as professionals seek environments with lower tax burdens, both within and outside Pakistan the PBC emphasized The council underscored that a significant number of Pakistanis are contemplating emigration due to factors such as inflation and high tax rates “Further escalation of tax rates, especially considering that salary income is taxed grossly represents an anomaly that requires correction the PBC concluded
among Pakistanis is deeply concerning,” stated the PBC These emigrants include many experienced professionals of high caliber which the formal sector cannot afford to lose The proposed revisions to tax brackets, particularly the
Microsoft’s ‘AI PCs’ hit the market TOR ONTO a F P A new line of personal computers (PCs) specially made to run artificial intelligence (AI) programmes hit stores on Tuesday, as tech companies push toward wider adoption of ChatGPT-style AI Microsoft unveiled last month the new AI-powered personal computers or AI PCs which will use the company s software under the Copilot Plus brand The idea is to allow users to access AI capabilities on their devices without relying on the cloud, which requires more energy, takes more time, and makes the AI experience clunkier The PCs feature a neural processing unit (NPU) chip that helps deliver crisper photo editing live transcription translation and Recall a capability for the computer to keep track of everything being done on the device However, Microsoft removed Recall at the last minute over privacy concerns and said it would only make it available as a test feature For now, the devices built by hardware makers like HP and ASUS run exclusively on a new line of processors called Snapdragon X Elite and Plus built by the California-based chip giant Qualcomm We are redefining what a laptop actually does for the end user, Qualcomm s senior vice president Durga Malladi said at a tech conference in Toronto “We believe this is the rebirth of the PC ” At the May launch Microsoft predicted over 50 million AI PCs would be sold in 12 months given the appetite for ChatGPT s powers Pakistan’s liquid foreign reser ves reach US$14.4b with SBP reser ves rising PR OFIT N e w s D e s k As of June 14 2024 Pakistan s total liquid foreign reserves have reached US$14 414 6 million according to recent data released by the State Bank of Pakistan (SBP) The breakdown of these reserves is as follows: Foreign reserves held by the State Bank of Pakistan (SBP): US$9,134 7 million Net foreign reserves held by commercial banks: US$5 279 9 million During the week ending June 14 2024 the SBP reserves saw a notable increase of US$31 million bringing its total reserves to US$9,134 7 million This rise underscores positive momentum in Pakistan s foreign reserves position, contributing to greater stability in the country’s external financial outlook The accumulation of foreign reserves is crucial for Pakistan as it provides a buffer against external economic pressures and supports the stability of the Pakistani Rupee in the foreign exchange market Analysts will be closely monitoring these developments amid ongoing economic dynamics both domestically and internationally Gov t to conduct a third-par t y audit of fer tilizer companies to determine production costs ISLAMABAD g h u l a M a b b a s The federal government on Thursday announced that a third-party audit will be conducted to determine the production costs of fertilizer companies This initiative aims to ensure transparency and fair pricing within the industry As per details the directive was given by the Federal Minister for Industries and Production Rana Tanveer Hussain during a Fertilizer Review Committee meeting which was also attended by Federal Secretary for Industries and Production, Dr Muhammad Fakhre Alam Irfan The meeting focused on reviewing the stock availability demand and prices of urea in the country Rana Tanveer Hussain assured that there is no shortage of urea fertilizer in Pakistan He highlighted that an uninterrupted supply of gas to fertilizer companies is being maintained to ensure smooth production The minister also instructed fertilizer companies to review the performance of their dealers and agencies He directed provincial authorities to verify the legitimacy of fertilizer dealers and agencies with any ghost dealers and agencies to be blacklisted Additionally, the minister emphasized the importance of ensuring the supply of fertilizer to all provinces To monitor the situation closely, the Fertilizer Review Committee will now hold weekly meetings PR OFIT M o N to R i N g D e s k The government has lowered the projected public debt repayment target by nearly 21% to Rs19 05 trillion for the fiscal year 2024-25, reducing the targets for treasury bills (T-bills) and prize bonds Public debt payments for the outgoing fiscal year were Rs24 08 trillion including domestic permanent debt and floating debt For the next fiscal year, the government plans to cut repayments in the floating debt category which comprises prize bonds, T-bill auctions, and Maujjal Ijara Sukuk The government has set Rs12 51 trillion auction target for T-bills significantly down from Rs25 34 trillion in 2023-24 However auctions worth Rs20 61 trillion were held in the outgoing fiscal year Like the previous fiscal year, the government does not plan to launch Sukuk bonds for 2024-25 The debt repayment for prize bonds is projected to be around Rs8 99 billion for the next fiscal year compared to Rs9 01 billion in 2023-24 In terms of permanent domestic debt, the repayment target is Rs6 53 trillion compared to Rs3 46 trillion paid in the outgoing fiscal year The main increase is set for repayments of Rs5 18 trillion for Pakistan Investment Bonds (PIBs) to the banking sector and Rs203 63 billion for PIBs to the non-banking sector Ijara Sukuk (Islamic bonds) repayment for FY25 is projected at Rs752 53 billion, compared to Rs274 69 billion in 2023-24 No repayment is scheduled for the 3year Pakistan Banao Certificates, as they matured in 2023-24, but payments of Rs2 88 billion will continue for the 5year Pakistan Banao Certificates Repayments for foreign exchange bearer certificates foreign currency bearer certificates US dollar bearer certificates, and Special US dollar bonds have seen a slight increase G ovt lowers public debt repayment target by 21% for FY2024-25 Oil hits 7-week high LONDON R e u t e R s Oil prices hit seven-week highs on Wednesday as summer demand optimism and concerns over escalating conflicts offset an industry report that said US crude inventories unexpectedly rose Brent crude futures gained 23 cents or 0 3 per cent at $85 56 a barrel by 1525 GMT while US West Texas Intermediate crude was up 18 cents or 0 2pc at $81 75 per barrel The current snapshot presents an underwhelming picture but there are green shoots that indicate a more optimistic outlook, said Tamas Varga of oil broker PVM The Brent price being $8 over the lows hit in early June “shows genuine optimism that the global oil balance will eventually tighten Varga added Both benchmarks having recovered strongly in the last two weeks gained more than $1 in the previous session to seven-week peaks after a Ukrainian drone strike led to an oil terminal fire at a major Russian port Millat Global Holdings withdraws acquisition offer for Hascol Petroleum PR OFIT N e w s D e s k Arif Habib Limited has withdrawn the public announcement of intention (PAI) made by Millat Global Holdings Limited to acquire at least 76% shareholding in Hascol Petroleum Limited “We, Arif Habib Limited in our capacity as Manager to the Offer would like to intimate that the time period for making the public announcement of offer lapsed on June 16 2024 the securities brokerage firm said in its notice to the Pakistan Stock Exchange (PSX) The announcement was initially made on December 19, 2023, and published in newspapers on December 20 2023 According to Regulation 21(1)(e) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017 read with the Securities Act 2015 the PAI is now officially withdrawn read the notice It further stated that the withdrawal process is being conducted to ensure compliance with legal requirements PR OFIT N e w s D e s k Bulls dominated the trading floor at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index closed above the 78 000 level for the first time in its history on Thursday According to the PSX website, the stock market opened on a positive note in its first session after the Eid-ul-Adha holidays At 10:35 am the benchmark index crossed 77 000 level with a gain of 1095 points or 1 43% Bulls further extended their march and surged past the 78,000 level at 11:02 am with an increase of over 1 500 points or 1 91% At 03:30 pm the benchmark index touched its historic high of 78,890 37 level, gaining 2183 points or 2 75% At day close, the market settled at 78 801 53 up by 2094 76 or 2 73% from the previous close of 76 706 77 points on June 17 A strong buying spree was witnessed in key sectors, including automobile assemblers, commercial banks, fertilisers, oil and gas exploration companies, oil marketing companies (OMCs) and refineries Major stocks like ODGC POL SHEL SNGPL MEBL and HBL traded positively Fitch Ratings described Pakistan s budget for fiscal year 2024-25 as ambitious but noted that it could improve the chances of securing a deal with the International Monetary Fund (IMF) Last week the PSX saw a bullish trend reaching new levels after no increase in the tax rate on dividends and capital gains for filers, contrary to market rumours This boosted investor confidence and led to increased interest in the stock market The KSE-100 index rose by 2 952 75 points over the week closing at a record high of 76 706 77 PSX closes above 78,000 for first time in its histor y g R e d u c t i o n i n T- B i l l s, P r i z e B o n d s r e p a y m e n t s e x p e c t e d
FBR EXTENDS DEADLINE FOR TRANSFERRING
TA X CASES TO APPELL ATE TRIBUNAL
PR OFIT M o n i to r i n g D e s k
HE Federal Board of Revenue (FBR) has extended the deadline to September 16 for transferring pending cases involving substantial tax amounts to the Appellate Tribunal Inland Revenue (ATIR) This measure aims to expedite the resolution of tax disputes Tax disputes pending before the Commissioner Inland Revenue-Appeal (CIRA) involving over Rs20 million in income tax or refunds over Rs10 million in sales tax and over Rs5 million in federal excise duty will be moved to the newly established ATIR The CIRA will handle cases below these thresholds This new appeal system was introduced through the Tax Laws (Amendment) Act 2024, separate from the Finance Bill 2024 New appeals will follow the same thresholds to determine whether they go to ATIR or CIRA Decisions from these bodies can be contested in high courts According to the new amendment, the commissioner will not recover any tax for 30 days from the communication of a CIRA or ATIR order This change addresses the issue of tax collection starting before the aggrieved party receives a copy of the decision The ATIR is required to decide appeals within 90 days of filing except for those pending at the start of the Tax Laws (Amendment) Act 2024 which must be resolved within 180 days If a decision is not reached within these time frames, the minister of law and justice must issue a condonation not exceeding 90 days The ATIR has reduced the maximum stay term from 180 days to 90 days However if the tribunal does not consider the appeal within the statutory time limit the stay will remain in place until a decision is made The federal government now has the a u t h o r i t y t o d e s i g n a t e t h e c h a i r m a n a n d members of the ATIR, a power previously held by the prime minister The eligibility c r i t e r i a f o r AT I R m e m b e r s h a v e b e e n a m e n d e d t o r e m o v e t h e d i s t i n c t i o n b e t w e e n j u d i c i a l a n d a c c o u n t a n t members The high court can issue a stay of tax collection based on a specific reference, conditional on the deposit of at least 30% of the ATIR-determined amount This stay order will expire in six months unless resolved or withdrawn by the court State-owned enterprises must first apply to the board to form a committee to resolve disputes before appealing to the ATIR, High Court, or Supreme Court For non-SOE taxpayers ADRC provisions now include tax disputes of Rs50 million or more with decisions binding on taxpayers 03 NEWS Friday 21 June 2024 | ISLAMABAD
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SECP warns public against fraudulent car financing scheme PR OFIT n e w s D e s k The Securities and Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of Etihad Auto Solutions for offering car financing schemes against an advance or down payment of 25% at extremely low markup rates The SECP said in a press statement that the sponsors of Etihad Auto Solutions have also registered another company under the Companies Act, 2017 with a similar name, i e , Etihad Auto Solutions (Private) Limited in order to deceive the public “It is falsely claimed that Etihad Auto Solutions (Private) Limited is a non-banking finance company (NBFC) registered with SECP SECP hereby warns the public not to deal with M/s Etihad Auto Solutions (Private) Limited and/or Etihad Auto Solutions in any form or arrangement as these entities are neither licensed by the SECP as NBFCs nor are they allowed to offer car financing services, read the statement The SECP has already initiated action against M/s Etihad Auto Solutions (Private) Limited and Etihad Auto Solutions which includes closing down their operations and referring the matter to relevant law enforcement agencies The general public is once again informed that the Certificate of Incorporation of a company merely confirms its registration with SECP and does not allow the company to raise deposits or launch investment schemes it added PR OFIT M o n i to r i n g D e s k The United Arab Emirates (UAE) is set to be the world’s leading wealth magnet for the third year in a row That s according to new research by Henley Private Wealth Migration Report The tiny Gulf nation is expected to see an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024 according to the report released on June 18 A distant second to the UAE is the United States with an expected inflow of 3,800 millionaires by year-end just about half of the net inflow of migrating millionaires that the Middle Eastern country anticipates A record-breaking 128 000 millionaires or high net-worth individuals with liquid investable wealth of $1 million or more are expected to relocate in 2024 according to the report That number surpasses the previous record of 120,000 millionaires that was set last year according to Henley adding that 2024 is shaping up to be a watershed moment in the global migration of wealth The data for the report was supplied by global wealth intelligence firm New World Wealth and features insights on the inflows and outflows of millionaires and their migration patterns globally This great millionaire migration is a canary in the coal mine signalling a profound shift in the global landscape and tectonic plates of wealth and power, with far-reaching implications for the future trajectory of the nations they leave behind or those which they make their new home ” said Dominic Volek group head of private clients at Henley & Partners said in the report Here are the top 10 countries expecting to see the highest net inflows of millionaires in 2024, according to Henley and Partners United Arab Emirates: +6,700 United States of America: +3 800 Singapore: +3 500 Canada: +3 200 Australia: +2 500 Italy: +2,200 Switzerland: +1 500 Greece: +1 200 Portugal: +800 Japan: +400 As the world grapples with a perfect storm of geopolitical tensions, economic uncertainty and social upheaval millionaires are voting with their feet in record numbers seeking greener pastures and safer harbors for their assets and family interests said Volek in the report The UAE is increasingly solidifying its position as a safe haven for high-net-worth individuals globally, owing largely to the country’s favorable tax policies strategic location world-class infrastructure and more according to the report The Middle Eastern country also offers a golden visa aimed at attracting talent to reside in the UAE The visa is aimed at “providing long-term residence to foreign investors entrepreneurs and talented individuals including specialists students and researchers who make a significant investment to the country according to Henley & Partners These migration inflows into the UAE are largely boosted by movement out of the greater Middle East region, India, Russia, Africa, and more recently, the expected influx of individuals from the United Kingdom and Europe according to the research Singapore ranked third with a projected net inflow of 3 500 millionaires in 2024 The island-nation also leads as the top destination for high-net-worth individuals looking to relocate to Asia Japan also made it into the top 10, boosted in part by the trend of an inflow of Chinese HNWIs post-Covid according to the report Here are the 10 countries or territories projected to see the highest outflows of millionaires in 2024: China: -15,200 United Kingdom: -9 500 India: -4 300 South Korea: -1 200 Russian Federation: -1 000 Brazil: -800 South Africa: -600 Taiwan (Chinese Taipei): -400 Nigeria: -300 Vietnam: -300 China expects to see the biggest millionaire exodus with a projected 15 200 HNWIs expected to leave the country by year end, according to the report The UK comes in second, projected to see a net loss of 9,500 millionaires by the end of 2024 followed by India which is expected to lose 4 300 millionaires this year The UK previously one of the top destinations for the wealthy globally, has recently seen a big outflow of millionaires The outflow already generated by the economic and political turmoil in Britain risks being accelerated by further unwelcome policy decisions ahead of the election said Dr Hannah White director and CEO of the independent think tank the Institute for Government Millionaires are also leaving China and India in droves Both China and India are seeing high net outflows because of the success of their [sizable] economies in generating new millionaires although slowing wealth growth in China in recent years could mean sustained losses become more damaging over time, said White Indian millionaires often depart the sub-continent in search of a better lifestyle, safer and cleaner environments, and access to more premium health and education services she added UAE set to be global wealth magnet for third year in a row PR OFIT s ta f f r e p o r t Pakistan s local mobile phone manufacturing and assembly industry has experienced significant growth with 2 23 million units produced in May 2024, marking a 55% year-on-year increase, according to the latest data from the Pakistan Telecommunication Authority (PTA) This brings the total for the first five months of 2024 to 13 1 million units up 168% from the same period last year This growth is due to end of import restrictions imposed last year and the gradual economic recovery As a result, Pakistan now meets 95% of its mobile phone demand through local manufacturing and assembly an increase from the five-year average of 67% (2019-2023) and the eight-year average of 47% (2016-2023) All major mobile brands, except iPhone are now being manufactured or assembled in Pakistan Over the past three years the country has shifted from imported mobile phones to local manufacturing and assembly, following the government s local mobile manufacturing policy announced in 2020 This policy aimed to attract international mobile companies to establish assembly plants in Pakistan The affordability of locally manufactured phones which are priced 15-20% lower than imported phones of the same quality, has also driven this shift In 2016, only 1% (0 29 million units) of mobile phones were assembled locally while 99% (21 36 million units) were imported By the first five months of 2024, local manufacturing and assembly accounted for 95% (13 08 million units) of mobile phones with only 5% (0 75 million units) being imported Within the locally assembled phones, 62% (8 1 million units) are smartphones, while 38% (4 98 million units) are 2G phones The peak demand for mobile phones in Pakistan occurred in 2020 with 37 56 million units driven by the COVID-19 pandemic and the subsequent increase in remote work e-commerce and online education According to Topline Pakistan Research, with the current monthly production rates and the recent imposition of an 18% sales tax on all mobile phones in the FY25 budget, the total demand for mobile phones in 2024 is projected to reach 30-35 million units compared to 22 9 million units sold in 2023 I n t h e l i s t e d s e c t o r A i r L i n k Communication (AIRLINK) is a major b e n e f i c i a r y o f t h e e x p a n d i n g m a r k e t and the growing share of local mobile p h o n e s A I R L I N K i s t r a d i n g a t a n FY24E PE of 8 4x and an FY25F PE of 5 4x Similarly 7% of Lucky Cement s (LUCK) consolidated revenue comes from its mobile business which will also benefit from the rising local demand for mobile phones LUCK is trading at an FY24E PE of 4 1x and an FY25F PE of 3 6x Loc al mobile manufac turing surges 55% in M ay 2024, fulfilling 95% of domestic demand g Tax disputes pending before Commissioner Inland Revenue-Appeal will be moved to newly established Appellate Tribunal Inland Revenue PR OFIT s ta f f r e p o r t Power generation in Pakistan rose by 2 7% year-on-year in May 2024 reaching 12 617 GWh (16 958 MW) compared to 12 284 GWh (16 510 MW) in the same period last year According to monthly data shared by the National Electric Power Authority (NEPRA), power generation saw an increase of 46% on a month-on-month basis However over the first eleven months of the fiscal year 2024 (11MFY24) power generation declined by 1 9% year-on-year to 113 705 GWh (14 100 MW) from 115 876 GWh (14,412 MW) during the same period last year Despite the growth in May, the actual power generation for the month was 11 3% lower than the reference generation This shortfall is expected to lead to higher capacity charges in the second quarter of fiscal year 2025 A detailed breakdown of the power generation sources for May 2024 reveals the following: – Hydel power generation increased by 17 9% year-on-year to 3 906 GWh – RLNG (Regasified Liquefied Natural Gas) generation decreased by 8 0% to 2,748 GWh – Nuclear power generation rose by 5 1% to 2,360 GWh – Local coal generation increased by 5 6% to 1 372 GWh – Gas generation increased by 12 0% to 1 110 GWh – Wind power generation decreased by 26 6% to 445 GWh – Imported coal generation decreased by 49 7% to 383 GWh – Solar power generation remained stable at 125 GWh – RFO (Residual Fuel Oil) generation decreased by 74 3% to 62 GWh – Baggasse generation decreased by 23 9% to 56 GWh The share of power generation sources in May 2024 was: – Hydel: 31 0% – RLNG: 21 8% – Nuclear: 18 7% – Local coal: 10 9% – Gas: 8 8% – Wind: 3 5% – Imported coal: 3 0% – Solar: 1 0% – RFO: 0 5% – Baggasse: 0 5% – Others: 0 4% The average fuel cost for power generation in May 2024 was Rs8 74 per kWh a decrease of 10 0% year-on-year The highest fuel costs were observed for RFO at Rs31 45 per kWh, followed by imported fuels at Rs26 09 per kWh and RLNG at Rs24 01 per kWh
generation rises by 2.7% Year- on-Year in M ay 2024 PR OFIT M o n to r i n g D e s k Commercial banks have lent a record 98 55% of their total deposits to the government amounting to Rs28 92 trillion by the end of May 2024, according to the monthly update by the State Bank of Pakistan (SBP) This higher level of lending by the banks to the government left little for private-sector lending which is essential for economic growth As per a news report the government turned to domestic commercial borrowing to address a revenue shortfall and meet interest payments on existing debt Consequently, commercial banks borrowed from the central bank to finance the government The cost of borrowing from the SBP decreased after the central bank reduced its key policy rate by 150 basis points to 20 5% last week Commercial bank financing for the government increased by nearly 44% to Rs28 92 trillion in May 2024 up from Rs20 14 trillion a year earlier In contrast bank financing for the private sector remained stagnant at Rs12 17 trillion, showing an increase of less than 1% from Rs12 07 trillion in May 2023 This resulted in a drop in the banks’ advance-todeposit ratio (ADR) to 41 46% in May 2024 from almost 50% in May 2023 Banks generally prefer riskfree lending to the government over financing the private sector which is essential for economic activities and job creation Meanwhile commercial bank deposits grew over 20% to Rs29 35 trillion in May 2024, up from Rs24 39 trillion in May 2023 This growth in deposits was driven by a rise in workers’ remittances and government borrowing from banks Remittances reached a record high of $3 24 billion in May 2024 pushing total inflows to $27 09 billion in the first 11 months of FY24 up 7 7% year-on-year Additionally, government borrowing from banks surged by Rs8 78 trillion, or 43 59%, over the past year to Rs28 92 trillion, which mostly remained in the system and continued to reflect in bank deposits Commercial banks direc t 98.55% of deposits to govt g Average fuel cost for power generation in May was Rs8.74 per kWh, a decrease of 10.0% year-on-year g H i g h r e t u r n s o n g o v e r n m e n t l e n d i n g d r a w b a n k s a w a y f r o m p r i v a t e s e c t o r g M i l l i o n a i r e s a r e a l s o l e a v i n g C h i n a a n d I n d i a i n d r o v e s, r e p o r t President Zardari for enhanced capacit y of LEAs to counter terror in Balochistan CONTINUED FROM PAGE 01 He also called for taking effective measures to ensure the safety and security of Zaireen Underlining the need to improve the socio-economic condition of Balochistan the President called for focusing on the skill development of its people and producing more skilled professionals He said that the capacity of training institutions should be enhanced to produce more trained human resources and equip them with foreign language skills that would also help them find jobs in foreign countries The president also called for promoting the fishing industry of Balochistan by providing financing and equipment to local fishermen apart from promoting sustainable fishing practices and checking the production of illegal fishing nets During the meeting, the president said that political dialogue was the way forward to bring prosperity, development and peace to Balochistan Chief Minister Balochistan thanked the president for visiting Gwadar, saying that it would give the people of Balochistan a sense of ownership as well as strengthen the resolve of the LEAs to eliminate terrorism He informed that the provincial government was according top-priority to the capacity building of police and levies He underlined the importance of equipping people residing in border areas of Balochistan with marketable skills to help them find employment in the country and abroad He highlighted that all stakeholders needed to make collective efforts to stamp out terrorism besides evolving a national consensus for the development of Balochistan The meeting also urged the need for completing the Kachhi Canal project to fulfil the food requirements of the province
Power
Getting serious
FINANCE Minister Muhammad Aurangzeb seems bent on taking the message of a crackdown on tax evaders far and wide Perhaps that is why he chose Kamalia, a tehsil in Toba Tek Singh district, to address a press conference on the issue of the tax-to-GDP ratio which he said was too low at the current 9 5 percent, and which he vowed to take to 13 percent This seems to be the bottom line with the IMF, as the path out of Pakistan’s financial troubles This also makes a certain sense as the collection at present does not fund the debt servicing needs of the government, It is interesting that Mr Aurangzeb not only wants to tax previously untaxed areas and emd an estimated Rs 3 9 trillion in exemptions He has revealed that 32 000 retailers had been included in the tax net, and would start paying tax from July By going after retailers, he is going after those considered a pillar of his party Mr Aurangzeb forthrightly addressed the concerns retailers have often expressed about the taxation machinery, admitting that people were scared of becoming filers, and then getting stuck in a quagmire While taxmen know they will never win popularity contests so long as their actions justify the impression that they are engaged in enriching themselves rather than the treasury, they will find taxpayers recalcitrant
While Mr Auranzeb was being wise in Kamalia KP CM Zli Amin Gandapur was throwing around his weight in Dera Ismail Khan, where he gave an example of direct action but at a federal installation By having a closed feeder restored he may have won the applause of the crowd, especially those who had been sweltering in the heat, but he was probably acting beyond his jurisdiction as the feeder was a federal installation and nobody in the feeder staff had him in their chain of command As if towing up the federal government further, he threatened to withdraw support for the IMF loan if the federal government did not pay the Rs 600 billion it owed the KP government It is a demand unlikely to be met for two reasons First, the IMF is likely to object to the federal government shelling out such a sum Second, the sum has not been reconciled in the sense that both federal and KP governments agree that that is the sum outstanding Such grandstanding should be eschewed in favour of problem-solving
Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late) Founding Editor
M A Niazi
Editor Pakistan Today Babar Nizami Editor Profit
THE 2024-25 Budget recently presented to the National Assembly was meant to please the IMF Previous Budgets have been meant to satisfy the IMF that its conditions were being met but this one was being presented during a break in negotiations In short, without any agreement on the next package, the IMF was getting what it wanted At the same time, the chances of the IMF refusing a failure are remote Apart from Pakistan being obedient it is also Too Big To Fail If Pakistan were to default because of lack of ability to repay the loans it has taken from the international banking system there is the risk of the international financial system unravelling While Pakistan is not one of the countries to which the international banking system has one of the largest exposures the system itself is not really robust enough to take a default in its stride One of the most interesting areas of difference to emerge from the Budget process has been the place of solar power in the energy mix of the country The Water and Power Ministry has been pushing for some sort of restriction on its use The reason is that solar energy does not fit into its financial model, which is still essentially that of the Tennessee Valley Authority relying on power production at central locations like hydel dams or thermal power stations and distribution to consumers Solar power is used so far for domestic connections, and there are so far none of the major generation units anywhere However, the model is that WAPDA purchases all the solar energy produced by domestic consumers and that sum is deducted from the cost of consumption It should be noted that the electricity which households consume is entirely supplied by WAPDA In this heat, WAPDA was expecting a bonanza, as electricity demand would shoot up because cooling devices like fans and air-conditioners were turned on However in previous years there were frequent power breakdowns and enforced loadshedding ending in a few cases in public riots and attacks on distribution company offices Is it purely a coincidence that the loadshedding in big cities is more limited? Or has the extra power generated and fed into the system by domestic consumers made a crucial dIffer-
ence? According to the World Bank by January 31 8822 MW of Pakistan s total 46,045 MW generating capacity was solar 28,800 MW was thermal, and 10,600 MW hydel Solar power is thus by far a major component of Pakistan’s energy mix but it is already causing WAPDA difficulties Is it simply a matter of not getting revenue? Another big difference in this model is that the investment in generation is being made by the consumer, not WAPDA Apart from the purchase of the requisite solar panels and inverter, there are ancillary civil works such as setting the panel frames on roofs If WAPDA was handling this this would have meant a tax-free revenue stream Not to mention that one reason panels are priced where they are is because WAPDA is not involved in the purchase process The only point WAPDA is involved in is installing the netmeters There WAPDA men make money, offering a vision of what would have happened if they had been involved in installing solar power Another point at which WAPDA is vulnerable is the provision of electricity to government offices If those offfices were to convert to solar power WAPDA would be in real trouble WAPDA can t live with those offices, and can t live without them One reason WAPDA can’t live with them is because they run up large arrears on the plea that they are essential and WAPDA dare not cut them off Office ACs are run hours before the sahib arrives the bill is not paid and the money used for something else (like biscuits for the sahib s elevenses) One reason WAPDA can t live without them is that
assuring them very tight security If all what had happened at Shenzhen and Beijing during his five-day visit materializes in due course of time then it will augur well for the somewhat staggering national economy besides further strengthening and promoting the existing timetested, all-weather, mutually trustworthy and enviable neighbourly best possible relations This was PM Shehbaz Sharif's second visit to China after the maiden one undertaken in November 2022 and the longest of all his foreign visits so far The visit more importantly also underscored Pakistan s commitment to the existing deepening ties, with the launching of the next phase of great game changer ChinaPakistan Economic Corridor (CPEC), now in the second phase after successful completion of the first phase He had gone to China to pursue the Chinese investors following an appreciable shift in his government s policy though in somewhat delayed manner, of seeking investment and collaboration and no more loans and aid from friendly countries
In the first part of his visit he inaugurated the Pak-China Business Conference in Shenzhen He quite categorically and assertively as-
sured and pledged resources, support to foreign investors like never before and vowed heightened security for Chinese citizens working in his country prioritizing their safety In Beijing itself the visiting Pakistani leader had very useful free in-depth and frank meetings with President Xi Jinping Premier Li Qiqang and Chairman of the Standing Committee of the National Peoples'; Congress Zhao Leji What transpired in these high-level meetings duly reflected the existing warmest, sincerest and mutually beneficial relations between the two countries While Pakistan reaffirmed its commitment to the one-China principle and reiterated that Taiwan is an inalienable part of the People's Republic of China, China reiterated its steadfast support to Pakistan in safeguarding its sovereignty national independence and territorial integrity in pursuing a development path suited to its national conditions and also in its efforts for safeguarding the national security stability, development and prosperity, in firmly combatting terrorism and in playing a bigger role in the regional and international affairs During these meetings, top Chinese and Pakistani leadership agreed that both Pakistan and China are all weather strategic cooperative partners and iron brothers and have always understood trusted and supported each other As regards CPEC, the two sides recognised that it has been a pioneering project of the Belt and Road Initiative (BRI)and after the successful completion of the first phase they were now committed to carrying out the eight major steps for supporting the high quality BRI cooperation forging an upgraded version of CPEC by jointly building a growth corridor, a livelihoodenhancing corridor, an innovation corridor, a green corridor and an open corridor, aligning with Pakistan's SME framework based on exports E-Pakistan Environment Energy and Equity and Empowerment for benefiting both countries and their peoples working together and building CPEC into an exemplary project of BRI cooperation Pakistani and Chinese leaders also dilated upon the mega Railways project Main-Line (ML-1) envisaging rehabilitation and upgradation from Peshawar to Karachi reaffirmed it as an important project under the CPEC frame-
work which was of strategic significance to Pakistan s socio-economic development and agreed to actively explore advancing the project in a phased manner and start working on its financing modalities
Needless to mention here that the ML-I project has been in doldrums for some time mainly due to its financing issue and China s concessional financing Its cost has recently been downwardly revised from $ 10 billion to more than $ 6 billion and three phases have been reduced to two phases
Details of what had transpired and was agreed upon during talks between the Pakistani and Chinese leaderships covering the vast spectrum of bilateral relations and expansion of the great game changer CPEC to more sectors need more space and may be mentioned some other time
As briefly mentioned above, the focus of the prime minister s visit in a major attempt to push for direly needed foreign direct investment was to business-to-business meetings and a determined effort to upgrade the CPEC
Most significantly and importantly it was being pointedly stated here that a record number of as many as 55 agreements and MoUs were signed on two different occasions during the five days of the visit Out of these 23 agreements and MoUs covering cooperation on CPEC agriculture infrastructure industrial cooperation inter-governmental development assistance, market regulation, surveying, media, film, and such like were signed in the presence of Chinese President Xi Jinping and Pakistan Prime Minister Shehbaz Sharif at the impressive ceremony at the Great People s Hall by the delegation members from both sides
And 32 agreements and memorandum of agreements in the fields of IT, textiles, leather and footwear, minerals, pharmaceuticals, agriculture and food processings on the sidelines of the Pakistan Business Conference in Shenzhen following meetings between the visiting Pakistani businessmen and host Chinese businessmen and investors
While the foreign investors and businessmen are quite willing to come and invest in different sectors in Pakistan, are we all ready to efficiently and actively take upon the massive workload that may be accruing in a sincere dedicated and committed manner brushing aside our decades old unwelcome habits of population growth corruption and amassing illgotten wealth by all means?
The writer is Lahore-based Freelance Journalist Columnist and retired Deputy Controller (News) Radio Pakistan Islamabad and can be reached at zahidriffat@gmail com
Driving
Prolonged loadshedding
Pedestrian bridges
Wait continues
College principals
Angr y people
04 Friday 21 June 2024 COMMENT Lahore – Ph: 042-36300938, 042-36375965 I K arachi – Ph: 021-32640318 I Islamabad – Ph: 051-2204545 I Web: www pakistantoday com pk I Email: editorial@pakistantoday com pk
AS the expiry date of my driving licence came close, I applied for its renewal a month-and-a-half earlier to avoid any violation of law My thought to get my licence before the expiry date proved to be a folly Despite paying a hefty sum of Rs10 000 I have been waiting for it to date Is it how a lawabiding citizen treated in the country? The relevant department must get its house in order first before boasting of the services it supposedly delivers DR ALI NASIM CHATTHA LAHORE
license issues
PEOPLE in Khuzdar have for long been suffering from prolonged loadshedding After electronic appliances one after another suffered at the hands of power fluctuations and outages, people have been forced to adopt ancient methods of sustaining life As such, the current agony of unscheduled loadshedding is made worse by the non-availability of natural gas The government should come to the rescue of the people AMINA KHUZDAR
THE stretch of road in Karachi s Gulshan-i-Iqbal area which divides blocks 4 and 7 has become a death trap for commuters and pedestrians alike Unfortunately the drivers show no consideration for the pedestrians crossing the road This has resulted in countless accidents Building pedestrian bridges has become inevitable The relevant authorities should immediately initiate the process in this regard M VAQARUDDIN KARACHI
IT has been two months now that about 600 hapless candidates have been waiting to get their joining letters after being selected as town officer Despite the recommendations issued by the Sindh Public Service Commission (SPSC) the relevant office has failed to act responsibly and issue the letters to those selected The wait has been haunting the applicants, but there is no word on the matter coming from the relevant office The provincial government should intervene to resolve the issue IQRA NASEER HYDERABAD
The College Education Department working under the Sindh government issued a notification earlier this year outlining the administrative roles and responsibilities of college principals In the past seniority was a key factor in the appointment of college principals, but things have taken a turn for the better over the last two years DR ZAFAR FAROOQUI KARACHI
FAMOUS sportswriter and baseball executive Ford Frick once said: “Keep your temper A decision made in anger is never sound” Someone needs to convey this quote to the higher-ups in Pakistan where everyone seems to be in an angry mood It seems that anguish has taken over all our decisions that are obviously riddled with errors and shall bring no good to the country It is high time those who matter took a cool break MALIK UL QUDDOOS KARACHI E d i t o r ’ s m a i l Send your letters to: Letters to Editor Pakistan Today 4-Shaarey Fatima Jinnah Lahore Pakistan E-mail: letters@pakistantoday com pk Letters should be addressed to Pakistan Today exclusively P RIME Minister Muhammad Shehbaz Sharif has recently paid a twin-purpose visit to China --to hold meetings with the top leadership and also to pursue Chinese investors to come and invest in Pakistan in different sectors,
they have to pay up sometime or the other However, the root of the DISCOs’financial problem is that they are bound to cover the capacity payments to the Independent Power Producers The IPPs are paid two sums One consists of capacity payments No matter how long the IPPs run or if they don t run, they are paid as id running at full capacity, The second component is the cost of the fuel they consume The fuel cost is a pass-through item, and depends on how much the IPPs actually operate This is quantified in the Fuel Adjustment Charge allowed to the DISCOs The more the IPPs are operated the more fuel they will use, which is imported, and which is to be paid by the consumer The more solar power is used, therefore, the less the IPPs will be asked to operate, and ultimately, the less the fuel that will have to be imported In that way the circular debt will not build up or at least be slowed Solar power thereby addresses two concerns of the IMF First it is green (a renewable) and second its impact on Pakistan s foreign exchange crisis will be positive The government seems to have plumped for speeding up imports of inverters, solar panels and lithium-ion batteries The batteries are particularly dangerous for solar-power opponents because they attack one of the main objections to solar power that it needs sunlight Once the problem of storing electricity generated is solved by the technologists, the need for an off-peak supplier, which all that a WAPDA DISCO remains for a solar-powered house, diminishes accordingly Storage will allow domestic consumers to go off-grid At present they need the DISCO to supply power when the sun can t If the batteries can store the excess electricity at peak hours why bother with a WAPDA connection? It must not be forgotten that solar power is being installed not by environmental activists, but by the hardheaded middle-class trying to reduce their electricity bills The movement towards electric vehicles again will not be out of any desire to save the oceans or glaciers but to save on fuel bills The lithium-ion batteries also point to the government s desire for electric-vehicle production It is not just the power industry that is being revolutionized, but the transportation sector as well, as it transitions from being oil-based to electricity-based Of course there’ll be no point if the electricity put into a vehicle was originally generated by burning fossil fuels That increases the attraction of renewables like solar The Holy Grail is being sought where the whole exterior of a vehicle is a solar panel, and the vehicle generates its own electricity If enough can be stored as well, then the car can run even in unfavourable weather There are two elements at work First there are powerful lobbies operating mainly the oil lobby Solar power and EVs powered by renewables mean that petroleum moves from liquid gold to gunk While still useful in making plastics, petroleum will lose its centrality, and a lot of its value Incidentally, plastics are also being damned as polluters especially marine polluters Oil it should not be forgotten is big business internationally Second plain dumb resistance to change Apart from the odd maverick decision-makers are usually 50 and above Adapting to new realities is a hassle Just before it collapsed, the USSR was headed by gerontocrats The USA now is electing to office septuagenarians Pakistan has one in office his elder brother and an aspirant in jail Not just Pakistan but the whole world needs agile leaderships capable of adapting to the rapid change that is ahead not just heads of state and government, but at all levels Renewables are here to stay So are EVs Like it or lump it The writer is a freelance columnist
re vo lu tio
A v i s i t t o p e r s u a d e C h i n e s e i n v e s t o r s
just Pakistan, but the whole world, needs agile leaderships, capable of adapting to the rapid change that is ahead, not just heads of state and government, but at all levels. Renewables are here to stay So are EVs Like it or lump it D e s p e rate m e a s u re s f o r d e s p e rate t i m e s Reassurance of fraternal ties While the foreign investors and businessmen are quite willing to come and invest in different sectors in Pakistan, are we all ready to efficiently and actively take upon the massive workload that may be accruing in a sincere, dedicated and committed manner, brushing aside our decades old unwelcome habits of population growth, corruption and amassing illgotten wealth by all means?
tough, KP CM
acts the tough
H arbinge r o f a
n
Not
While Finance Minister Muhammad Aurangzeb talks
Gandapur
RIfAt At Penpoint M A N I A Z I
MuhAMMAd
ZAhId
Banning Social Media for children and teenagers
Another plague impor ted from the West
DURING my tenure as Press Minister at the Embassy of Pakistan in France, I once attended a dinner with the Ambassador and several other dignitaries where we dined with members of the French parliament I was seated between two female parliamentarians, and our discussion turned to the impact of social media on families When I mentioned that my 13-year-old daughter had a Facebook account, the ladies reacted with utter disbelief covering their mouths in shock They unanimously believed that children should not be allowed to use social media until they reach adulthood under any circumstances Taking their advice to heart, I made considerable efforts to regulate my children's use of social media, though with limited success Ironically social media invented by the USA and the West was initially promoted to ensure the global permeation of their lifestyle, and political and geopolitical influence However, they did not foresee that this very tool, designed to impose their values, customs, and preferences on the rest of the world would eventually become a significant risk to the lives of millions of children and teenagers
This realization did not come at once but after the office of the Surgeon General of the United States conducted multiple studies and reports including longitudinal studies to track the same individuals over a period providing data on how social media use impacts mental health over time It included cross-sectional studies where comparison of different groups of individuals to identify correlations between social media use and
mental health indicators It also included meta-analyses to identify broader trends and draw more robust conclusions The studies showed that at an individual level there are mental health concerns, such as increased anxiety and depression linked to social media use, and the rise of cyberbullying causing significant emotional distress Additionally excessive screen time especially before bed disrupts sleep patterns affecting overall health and academic performance The addictive nature of social media platforms encourages behaviour that interferes with daily activities and responsibilities, while constant exposure to short, rapid content is believed to reduce attention spans impacting the ability to focus on longer more demanding tasks
In families excessive social media use reduces the amount of quality time family members spend together, weakening family bonds Parents may find it challenging to monitor and regulate their children's social media usage leading to potential exposure to harmful content Families may rely more on digital communication reducing meaningful, in-person interactions and discussions Differences in social media use and content consumption can lead to conflicts between family members
In society widespread social media use leads to decreased face-to-face interactions weakening community ties and social cohesion While social media can connect people
virtually, it can also contribute to feelings of isolation and loneliness in real-life situations Exposure to risky behaviour and content on social media can normalize such actions particularly among impressionable teenagers Social media can create echo chambers where individuals are exposed only to information that reinforces their existing beliefs, reducing exposure to diverse perspectives Based upon these findings, the Surgeon General of the United States issued recommendations emphasizing the need for stricter age verification measures enhanced parental controls and comprehensive education on digital literacy Integrating safe internet use
Parents have a crucial role in regulating their children’s social media use by utilizing parental control software and apps to monitor and limit usage, setting clear rules and boundaries, and maintaining open communication about the potential dangers of social media Modelling responsible social media use and encouraging offline activities, such as family outings, sports, and reading, can help children develop a balanced approach to technology Promoting social and community activities that foster face-toface interaction and physical activity will further mitigate the risks associated with excessive social media use
into school curricula and providing mental health support, such as counselling services and helplines Working with social media companies to enhance content moderation and filter harmful content for minors Promoting community and extracurricular activities as healthy alternatives and advocating for legislation that protects young users In Pakistan, we tend to adopt whatever is imposed on us by the West without a cognitive decision-making process to evaluate its suitability for our individuals families and national fabric As a result social media use has permeated all levels of society without any checks and balances Even children as young as six months old have unrestricted access to social media Young children, some as young as three to five years old, have become social media stars, frequently appearing in social media posts There are no effective regulations in place to govern social media use in Pakistan and even if regulations exist they are not being enforced Consequently, children of all ages are becoming addicted to this
All roads in the Muslim world lead to Beijing
Af ter the Hamas massacre last O c t 7, Chinese polic y shif ted decisively against Israel Chinese commentators and netizens lined up against the Jewish state like iron filings on a sheet of paper with a magnet underneath
and Russia s staying power Again that leaves Israel in the crosshairs: Russia is not a customer of Saudi Arabia like China but a competitor, and stands to benefit from a disruption of oil supplies
Modi: Shed arrogance, rein in your Frankenstein monsters
Huawei s largest foreign market for 5G infrastructure, despite urgent U S warnings against doing business with the Chinese national champion For our part we don t sell telecom infrastructure because we stopped making it a generation ago That is why all roads in the Muslim world lead to Beijing Turkey s Foreign Minister Hakan Fidan went to Beijing last week in "the latest effort by Ankara to establish itself at the center of a strategic trade route between Europe and China VOA reported Once the champion of Uyghur rights against alleged Chinese "genocide," Turkey now rounds up Uyghur dissidents in Turkey and sends them back to China Four Arab leaders including Egyptian President Fattah al-Sisi attended the China-Arab Forum in Beijing during the last week in May
The $2 trillion Belt and Road Initiative hopes to integrate China with Western Asia and eventually Europe through a new transport grid that crisscrosses the Eurasian continent with Chinese-built railroads and pipelines After the Biden Administration fled Afghanistan in 2022 China has picked up the pieces in Central Asia offering infrastructure and financial support to the fragile economies of the former Soviet Union China and Russia meanwhile have settled most of their differences over primacy in Central Asia and are acting as partners China has just 200 soldiers in the Middle East at its sole overseas base in Djibouti It concentrates its military budget on a massive missile, satellite, air and submarine shield along its coast not on forward deployment China s relations with Israel had been cordial but chilly given China s historic pro-Palestinian position But for a long time, it was still possible to defend Israel in major Chinese media, as I did in December 2022 After the Hamas massacre last Oct 7 Chinese policy shifted decisively against Israel Chinese commentators and netizens lined up against the Jew-
ish state like iron filings on a sheet of paper with a magnet underneath Why? Israel is an American ally and America and China are locked in an adversarial wrangle Israel is in the crosshairs China has no particular fondness for Arabs or Persians, nor any particular animosity toward Jews: It is playing its hand ruthlessly against Washington It gets worse: The Ukraine War has thrown Russia and China together in a de facto alliance against the United States Americans play Monopoly while Russians play chess and they have opened an Iranian fianchetto in the context Ukraine As I warned back in 2008 If Washington chooses to demonize Russia, the likelihood is that Russia will become a spoiler with respect to American strategic interests in general and use the Iranian problem to twist America's tail " Vladimir Putin warned on June 5 that Russia might give weapons to enemies of the West in response to attacks on its soil by Western weapons Presumably, Putin means the Houthis, many of whose officers trained at Russian military academies and have already launched missiles at Israel Washington woefully underestimated the efficacy of its sanctions on Russia
Even worse the United States is hobbling Israel s military response to Hamas to the point of withholding ammunition from the IDF The Pentagon vetoed Israel's plan to flood the Hamas tunnels with seawater an alternative that would have reduced collateral damage among Gazan civilians as Erik Prince revealed in Asia Times A Trump victory in November would restore American support for Israel and if Trump makes good on his promise to end the Ukraine war reduce the threat from the Iranian flank That would be the best outcome But China s influence in the region will grow no matter what the U S does, because its dominant position in broadband, transport, and energy infrastructure enables it to meet Eurasia s development needs In one way or another Israel will have to engage China Ben Gurion s too-often quoted injunction to fight the White Paper as if there were no war, and fight the war as if there were no White Paper, is worth recalling It will have to become Israel's modus operandi going forward
David P Goldman is Deputy Editor of Asia Times a Washington Fellow of the Claremont Institute and a member of the Advisory Board of Sino-Israel org, a think tank dedicated to China-Israel dialogue
Pavan Varma says when Bhagwat spoke about the need to “respect diversity, live together and respect others (and) embrace goodwill to all”, he clearly had in mind the comments made by the BJP and Modi in particular during the recent election campaign
l l ig e n c e h u m a n i n t e l l i g e n c e i ma g e r y a n d o t h e r d a t a T h e a r r a n g e m e n t i s u n p a r a l l e l e d i n h i s t o r y a n d w e a r e f o r t u n a t e t o b e p a r t o f i t B u t f o r h o w m u c
s t a n d what you are reading; 2) We need a national security intelligence adviser with actual operational experience Not h a v i n g t h i s i s a k i n t o h a v i n g a C h i e f o
phenomenon This addiction to social media is causing children to become increasingly detached from outdoor games and physical interactions with friends and relatives Their interactions with their parents are often limited to basic needs such as paying school fees and providing necessities like food, clothing, and shelter This limited interaction is eroding their emotional attachment to their parents, siblings and relatives Children now prefer to stay in their rooms where they socialize with online friends both within the country and internationally without any parental control Children have unrestricted access to all types of content including ethical and unethical, sexual and non-sexual, and religious and non-religious material They are also exposed to extremist and non-extremist content This lack of parental control over their children's social media use is shaking the very foundation of our society There is a dire need to react quickly to address this anomaly and correct it in our society To effectively regulate social media use by children and teenagers, a concerted effort from the government, society, and parents is essential The government can play a pivotal role by implementing stringent age verification laws and establishing regulatory bodies to oversee social media platforms ensuring compliance with child protection laws Additionally, public awareness campaigns and education programmes should be launched to educate parents and children about the risks associated with social media use and the importance of digital literacy Integrating digital literacy into school curricula and providing access to helplines and counselling services for social media-related issues are crucial steps Society, on the other hand, can contribute by engaging communities through workshops and seminars for parents and children to discuss the impacts of social media and share best practices for safe use Parents have a crucial role in regulating their children’s social media use by utilizing parental control software and apps to monitor and limit usage setting clear rules and boundaries, and maintaining open communication about the potential dangers of social media Modelling responsible social media use and encouraging offline activities such as family outings, sports, and reading, can help children develop a balanced approach to technology Promoting social and community activities that foster face-to-face interaction and physical activity will further mitigate the risks associated with excessive social media use The goal of these recommendations is to create a safer digital environment for children and teenagers mitigating risks and promoting healthier development where the government, society, and parents can work together to create a safer and healthier environment for children and teenagers The writer retired as Press Secretary the the President and is former Press Minister at Embassy of Paikistan to France and former MD Shalimar Recording & Broadcasting Company Limited Friday 21 June 2024
05 I N 2013, I warned that a Pax Sinica in the Middle East might replace America's predominant role As the largest importer of Persian Gulf oil China wants stability in the region To that end China s first venture into Middle East diplomacy came in December 2022, when it issued a joint statement with the Sunni Gulf States chastising Iran's disruptive role in the region But when Beijing brokered the restoration of diplomatic relations between Iran and Saudi Arabia in March 2023 China proved it had arrived as a major power in the region China's industrial muscle drives its growing influence in the Middle East Its exports to Saudi Arabia have risen four-fold since 2018 while exports to the region including North Africa have doubled Meanwhile American exports to the Persian Gulf have stagnated CHINA EXPORTS China provides the Gulf monarchies with AI-controlled solar energy Cloud computing 5G broadband and transportation infrastructure The Saudis and Emiratis probably are
COMMENT
Qamar Bashir
NEWSWEEK Dav i D p G o l D m a n
A T one point in our nott o o - d i s t a n t h i s t o r y, C a n a d a w a s r e c o gn i z e d b y o u r a l l i e s a s p l a y i n g a n i m p o r t a n t r o l e i n i n t e l l i g e n c e D u r i n g t h e Cold War by pure happenstance thanks to our geography, we kept t a b s o n S o v i e t m i l i t a r y a c t i v i t y over the North Pole, thanks to a Canadian Armed Forces listening station in Alert on Ellesmere Island Our contribution was critical to monitoring the threat from the USSR, including the horrendous possibility of the launch of nuclear missiles targeting North America C a n a d a p u n c h e d a b o v e i t s w e i g h t w h e n i t c a m e t o c o l l e ctive western security As a conseq u e n c e w e w e r e a d m i t t e d i n t o the gold standard of intelligence s h a r i n g c l u b s : t h e F i v e E y e s ( o t h e r m e m b e r s a r e t h e U n i t e d S t a t e s , U n i t e d K i n g d o m , A u stralia and New Zealand) This ass o c i a t i o n a l l o w s f o r t h e c o l l e c t i o n a n d d i s t r i b u t i o n o f h i g h l y s e n s i t i v e s i g n a l s i n t e
h longer? R e c e n t l y a U S c o n g r e ss i o n a l c o m m i t t e e a s k e d t h a t c o u n t r y s D i r e c t o r o f N a t i o n a l Intelligence for a briefing on the f i r i n g o f t w o s c i e n t i s t s f r o m C a n a d a ’s h i g h - s e c u r i t y i n f e ctious-disease laboratory in Winn i p e g ; i n t e l l i g e n c e h a d p o i n t e d t o t h e i r r o l e a s C h i n e s e a g e n t s The request for a briefing should send a shiver down every Canad i a n s s p i n e T h a t o u r c l o s e s t ally, and the source of the lion’s share of intelligence appears to b e q u e s t i o n i n g o u r i n t e l l i g e n c e culture here is a wake-up call of the highest order L e t m e m a k e i t c l e a r T h e U S i s q u e s t i o n i n g w h a t C a n a d a ’s s p i e s k n e w a b o u t t h e a c t i v i t i e s o f t h e s e s c i e n t i s t s , what they told the Trudeau government about it what action (or n o t ) t h e g o v e r n m e n t t o o k a n d w h a t t h e i m p l i c a t i o n s a r e f o r Western security If sensitive inf o r m a t i o n t h a t c a n b e u s e d b y C h i n a w a s i n d e e d s t o l e n f r o m u n d e r o u r n o s e s d e s p i t e w a r ni n g s f r o m C S I S C a n a d a ’s s p y a g e n c y i t i s n o t s u r p r i s i n g t h a t t h e U S i s a s k i n g t o u g h q u e stions about its northern ally We h a v e h e a r d t i m e a n d a g a i n d u r i n g t h e i n q u i r y i n t o C h i n e s e i n t e r f e r e n c e i n t o o u r 2019 and 2021 elections that intelligence was ignored sent back f o r r e w o r d i n g o r d i s m i s s e d We h a v e e v e n l e a r n e d t h a t t h e t h e n N a t i o n a l S e c u r i t y I n t e l l ig e n c e A d v i s e r ( N S I A ) d i d n o t pass on CSIS information to the prime minister because this official did not understand it or see i t a s w o r t h w h i l e T h e d e t a i l s s e e m t o g e t w o r s e a n d w o r s e every week What does all this mean? We are already being criticized for not spending the NATO minimum of two per cent of GDP on defence and are excluded from initiatives like the AUKUS pact to counter aggressive Chinese moves in Southeast Asia Canada is increasingly sidelined at international forums on security and our most vital friends are expressing concerns over our dedication to collective defence and security T h e u p s h o t i s t h a t w e a r e a net importer of intelligence We d o n o t h a v e t h e m o n e y a n d r esources to compete with the U S a n d U K a n d r e l y h e a v i l y o n t h e i r i n f o r m a t i o n t o r e m a i n o n the cutting edge of awareness of t h r e a t s S h o u l d d i s t r u s t i n o u r ability to secure that intelligence b e s e e n a s w a n t i n g a n d t h e Wi n n i p e g l a b f i a s c o c e r t a i n l y s u g g e s t s s e r i o u s l a x n e s s w e could see sanctions or, at a mini m u m a t u r n i n g d o w n o f t h e flow of intelligence I s u g g e s t t h r e e a c t i o n s t h a t may help get us back in the good books of our allies: 1 Every official who has acc e s s t o i n t e l l i g e n c e n e e d s t o g o through an Intel 101 course A ( t o p ) s e c r e t c l e a r a n c e i s n o t e n o u g h i f y o u d o n t u n d e r
f D e f e n c e S t a ff w h o never sailed a ship, drove a tank or flew an aircraft; 3 ) We n e e d m o r e r e s o u r c e s (human and financial) for CSIS, CSE and other agencies It is well past time to take intelligence seriously in this count r y Ye t t h i s g o v e r n m e n t s e e m s all too happy to whistle past the t h r e a t g r a v e y a r d C a n a d a w i l l suffer as a result Our closest allies are waiting for our response P h i l G u r s k i i s P re s i d e n t / C E O o f B o re a l i s T h re a t a n d R i s k C o n s u l t i n g a n d a f o r m e r s e n i o r s t r a t e g i c a n a l y s t a t C S I S C anada must rebuild trust with its spy par tners Th at t h e U. S . o u r c l o s e s t a l l y a p p e a r s to b e q u e s t i o n i n g o u r i n te l l i g e n c e c u l t u re i s a wa ke - u p c a l l o f t h e h i g h e s t o rd e r MONTREAL GAZETTE p h i l G u r s K RSS
to
P O L I T I C A L c o m m e n t a t o r P a v a n Va r m a s a y s t h a t t h e s p e e c h m a d e b y t h e R S S s a r s a n g h c h a l a k i n N a g p u r l a s t M o n d a y w a s a c l e a r m e s s a g e t o N a r e n d r a M o d i Va r m a s a y s i t w a s a p o i n t e d a n d r e l e v a n t m e s s a g e a n d o f s e m i n a l i m p o rt a n c e A s Va r m a p u t i t , i t w a s e xt r e m e l y i m p o r t a n t ( b e c a u s e M o h a n ) B h a g w a t s p e a k s r a r e l y b u t w h e n h e d o e s s o h e h a s a p u r p o s e a n d a c a r ef u l l y t h o u g h t - o u t m e s s a g e Va r m a s a y s w h e n B h a g w a t s p o k e a b o u t t h e n e e d t o r e s p e c t d i v e r s i t y l i v e t o g e t h e r a n d r e s p e c t o t h e r s ( a n d ) e m b r a c e g o o d w i l l t o a l l , h e c l e a r l y h a d i n m i n d t h e c o m m e n t s m a d e b y t h e B J P a n d M o d i i n p a r t i cu l a r d u r i n g t h e r e c e n t e l e c t i o n c a mp a i g n I n o n e s t r i k i n g s e n t e n c e B h a g w a t s a i d : We m u s t t r e a t t h e s o n s o f o u r c o u n t r y a s b r o t h e r s Va r m a s a i d i t i s e x p l i c i t l y c l e a r t h a t B h a g w a t w a s s a y i n g M u s l i m s a r e b r o t h e r s n o t i n f i l t r a t o r s Va r m a s a i d a l t h o u g h w h e n t h e R S S c h i e f s a i d a t r u e s e v a k d o e s n o t h a v e a r r o g a n c e h e w a s s p e a k i n g g e n e r i c a l l y n o n e t h e l e s s t h e i n f e r e n c e w a s v e r y c l e a r a n d i t w a s o b v i o u s a t w h o m i t w a s s p e c i f i c a l l y d i r e c t e d Va r m a s a i d t h a t M o d i ’s c l a i m t h a t h e i s n o t o f b i o l o g i c a l b i r t h w a s p r o b a b l y “ t h e f i n a l s t r a w o n t h e c a m e l ’s b a c k ” I n t h e i n t e r v i e w Va r m a s p o k e a t l e n g t h a b o u t w h a t h e c a l l e d a F r a n k e n s t e i n m o n s t e r b y w h i c h h e m e a n t l u m p e n e l e m e n t s a n d t h e k i n d o f u n c h e c k e d l a w l e s s n e s s a n d v io l e n c e t h a t t h e y h a v e u n l e a s h e d i n a ll e g e d s u p p o r t o f M o d i a n d t h e B J P A t o n e p o i n t i n t h i s s e c t i o n o f t h e i n t e rv i e w Va r m a n a m e d t h e B a j r a n g D a l Va r m a d e s c r i b e d t h e R S S c h i e f s s p e e c h a s a c a u t i o n a r y v o i c e I n f a c t , i t s o n e o f t h r e e c r i t i c a l c o mm e n t s m a d e b y R S S l e a d e r s i n t h e s a m e w e e k T h e r e w a s I n d r e s h K u m a r ’s c o m m e n t a s w e l l a s R a t a n S h a r d a s a r t i c l e i n t h e R S S m a g a z i n e O rg a n i s e r A l l t h r e e w e r e s a i d i n p u bl i c n o t i n p r i v a t e Wa s t h a t j u s t a c o i nc i d e n c e o r i s i t a c o n s c i o u s d e l i b e r a t e m e s s a g e ?
Chief’s clear message
THE WIRE K a r a n T h a pa r
TROOP SHORTAGES AND PUBLIC OPPOSITION STRAIN IDF AMID PROLONGED GA Z A WAR
Xi Jinping, Trinidad and Tobago president exchange congratulations over 50th anniversar y of diplomatic ties
A s the world continues to warm, C hina and EU meet for climate talks
over a month not over a year, or even over five years, said Ko Barrett, the WMO s Deputy Secretary-General Against this backdrop China and the European Union have held a 5th environment and climate dialogue The two sides last convened
F id y 21 J 2024 | ISLAMABAD 06 NEWS JERUSALEM A G E N C I E S
H E Israel Defence Forces (IDF) are grappling with troop shortages as casualties rise in the ongoing conflict with Hamas in Gaza, now entering its ninth month The recruitment of additional forces is being hampered by increasing public opposition and political tensions, including a public rift between Prime Minister Binyamin Netanyahu and his defense minister This personnel crisis coincides with a surge in hostilities On Monday an explosion in Rafah claimed the lives of eight IDF soldiers marking the deadliest single incident in the past six months, a figure that has significantly impacted Israeli public sentiment Just a week prior Hamas claimed responsibility for killing an unspecified number of Israeli soldiers with a boobytrapped house in the same region IDF s chief, Herzi Halevi, has openly expressed concerns about the dwindling troop numbers, suggesting it could hinder Israel’s capability to maintain the intensity of its operations against Hamas The army s challenges are compounded by internal political strife Reports indicate significant friction between the military leadership and Netanyahu, particularly over the military’s proposal to implement daily tactical pauses in fighting to allow for humanitarian aid in Gaza Domestically the Israeli public is increasingly dismayed by the Palestinian casualties resulting from the conflict, leading to protests in Jerusalem against the government’s strategy in Gaza “The IDF is totally exhausted after more than eight months of conflict noted Ahron Bregman a political scientist at King s College London He highlighted the urgent need for the military to regroup, a sentiment echoed by the defense sector The conflict’s duration and intensity have stretched the IDF’s capabilities “We are observing sooner-than-expected rotations of brigades and battalions stated Steven Wagner, a historian at Brunel University London indicating a need for more frequent rest periods for troops Experts argue that the IDF was unprepared for the scale of the conflict initiated on October 7 Over the past two decades, the Israeli military has significantly downsized, disbanding six divisions in anticipation of a shift away from large-scale regional wars
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BEIJING S TA F F C O R R E S P O N D E N T Global temperature records are now being broken almost every month and the warning signs are clear, that the world is getting hotter Millions in the U S are facing a “dangerous” heat wave Parts
pre-industrial levels for at least one of the next five years What is clear is that the Paris Agreement target of 1 5 degrees C is hanging on a thread It’s not yet dead but it’s hanging by a thread The Paris Agreement target refers to long-term temperature increases over decades not
such an event has been held in Brussels, where the majority of EU institutions are based “The Chinese side highly values environmental protection and climate response We re committed to a path prioritizing ecological conservation as well as green and low carbon development, said Chinese Vice Premier, Ding Xuex-
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Chinese electric vehicles isn’t conducive with the bloc s green transformation The EU meanwhile says it wants a level playing field But, during the meetings this week both sides called for great cooperation in the fight against climate change We are facing multiple planetary crises that recognize no borders and therefore our cooperation in this regard is extremely important ” said Maroš Šefčovič Executive Vice-President of the European Commission China and the EU have pledged to expand mutual learning in fields such as green energy and the control of plastic pollution
of India and Europe are battling extreme heat and China is experiencing both heavy rains and scorching temperatures According to the World Meteorological Organization’s annual report, there’s an 80 percent chance that the global temperature will on average exceed 1 5 degrees above
in Beijing last July and this is the first time
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BEIJING S TA F F R E P O R T Chinese President Xi Jinping on Thursday exchanged congratulations with President of Trinidad and Tobago Christine Kangaloo over the 50th anniversary of the establishment of diplomatic ties Trinidad and Tobago is an important country in the Caribbean and a comprehensive cooperative partner of China in the region Xi said Since the establishment of diplomatic ties 50 years ago, bilateral relations have developed with sound momentum, with deepening political mutual trust and fruitful cooperation in various fields, which have benefited the two peoples he said Xi said that he attaches great importance to the development of China-Trinidad and Tobago relations and stands ready to work with Kangaloo to use the 50th anniversary of diplomatic ties as an opportunity to continue to promote high-quality Belt and Road cooperation, deepen exchanges and cooperation in various fields and take the China-Trinidad and Tobago comprehensive cooperative partnership to a higher level Kangaloo said that the establishment of diplomatic ties between Trinidad and Tobago and China was based on the shared wish of both sides to develop friendly relations and cooperation Over the years, the two countries have always stuck to the original intention of establishing diplomatic relations and constantly strengthened ties she said Kangaloo expressed confidence that bilateral relations
the new era will continue to bring benefits to the two countries BEIJING M I A N A B R A R The Chinese Ministry of Foreign Affairs on Thursday urged the United States to revoke its plan to sell arms to China’s Taiwan region and stop arming the region with weapons Lin Jian a spokesperson for the ministry voiced China s strong condemnation and firm opposition in response to reports that the U S State Department has approved $360 million in weapons and equipment sales to Taiwan and the provision of training services In disregard of China’s repeated opposition and serious protests the U S once again sold arms to China s Taiwan region said Lin Such sales seriously violate the one-China principle and the three China-U S joint communiques, especially the August 17 Communique of 1982, he stressed The sales undermine China’s sovereignty and security interests harm China-U S relations and peace and stability across the Taiwan Straits and send a gravely wrong message to Taiwan independence separatist forces, said Lin The frequent arms sales of the U S to the Taiwan region embolden the Democratic Progressive Party (DPP) authorities as they cling to the stance of Taiwan independence and make deliberate provocations on the oneChina principle, he said This once again shows that separatist moves for “Taiwan independence” and connivance and support for such moves from U S -led external forces are the biggest threat facing cross-Straits peace and stability and a source of damage to the real status quo in the Taiwan Straits said Lin Let me stress that the DPP authorities attempt to seek independence through military build-up and what the U S has done to assist that agenda will only backfire and lead nowhere,” he said The spokesperson said the Taiwan question is at the core of China s core interests and the first red line that cannot be crossed in China-U S relations No one should underestimate China s firm determination and ability to oppose Taiwan independence” and safeguard its sovereignty and territorial integrity he said Lin said China urges the U S to earnestly abide by the one-China principle and the three China-U S joint communiques revoke its wrongful decisions to sell arms to Taiwan, stop the dangerous trend of arming Taiwan, stop wrongful moves to connive at and support “Taiwan independence” forces, and stop endangering cross-Straits peace and stability We will take strong and resolute measures to defend our national sovereignty security and territorial integrity he said C hina urges US to stop arming Taiwan region Liquor poisoning in Tamil Nadu leaves 34 dead, 100 hospitalised TAMIL NADU I N P At least 34 people have died and about 100 others were hospitalized on Wednesday after allegedly consuming illicit liquor in Kallakurichi district Tamil Nadu The death toll is feared to rise and authorities have already arrested four individuals linked to the distribution of the tainted alcohol Chief Minister MK Stalin expressed his deep shock and sorrow over the incident, indicating swift action against those officials who failed in their duties to prevent such a tragedy In a statement released on X he vowed decisive action against the culprits and the negligent officials to prevent future occurrences I was shocked and saddened by the deaths in Kallakurichi due to adulterated liquor We have arrested those involved and taken action against officials who failed to prevent this tragedy We will continue to respond promptly to any reports of such illegal activities and crush these societal menaces with an iron fist Stalin said In response to the tragedy the opposition AIADMK called for an urgent hearing, which the Madras High Court, under Justices D Krishnakumar and K Kumaresh Babu, agreed to address on June 21 Following the incident a sweeping administrative overhaul was conducted in Kallakurichi The Tamil Nadu government replaced the district collector and suspended the superintendent of police along with nine other officers from the prohibition wing, underlining the seriousness of the failures that led to the tragedy The new appointments include MS Prasanth as the district collector and Rajath Chaturvedi as the police superintendent who have both been actively involved in addressing the aftermath Prasanth visited the affected patients at the Government Medical College Hospital assessing the immediate needs and ensuring appropriate care Governor RN Ravi also issued a statement, expressing his condolences to the families of the deceased and calling for swift action to address the root causes of illicit liquor circulation This tragedy highlights the ongoing challenges in curbing the production and consumption of spurious liquor in our state It is a serious concern that needs urgent and continued attention, noted a statement from the Tamil Nadu Raj Bhavan Pakistan Railways adopts High Flash Point HSD for enhanced per formance, safet y LAHORE S TA F F R E P O R T The Pakistan Railways (PR) has committed to using high flash point High-Speed Diesel (HSD) oil, opting for quality and to ensure optimal performance and safety of its diesel locomotives This decision addresses concerns about the use of imported HSD and emphasizes PR s focus on operational efficiency and maintenance cost reduction While talking to APP, Nasir Qureshi, a senior mechanical expert, clarified misconceptions about the procurement strategy He explained that PR’s locomotives are equipped with state of the art technology including American and Chinese manufactured locomotives The sophisticated technology necessitates high-quality HSD for optimal functionality Using lower quality HSD could impair performance and significantly raise maintenance costs,” Qureshi stated A recent correspondence between PR and a local petroleum company revealed critical safety considerations Local refineries produce HSD with a flash point of 54 C posing safety risks in regions like Sindh Punjab and Balochistan where summer temperatures often exceed this threshold ANKARA A G E N C I E S Japanese Prime Minister Fumio Kishida on Thursday survived a no-confidence motion over controversial political funds control legislation The motion voted down in the country s House of Representatives had been submitted by the main opposition Constitutional Democratic Party of Japan (CDPJ) against Kishida s Cabinet in response to the passage of a revised political funds control law Tokyo-based Kyodo News reported The law was criticized for failing to improve financial transparency in politics, noted Kyodo The CDPJ demanded more drastic changes in the amended law including a ban on corporate donations to political parties as it campaigned to restore public trust in politics which it accuses Kishida s ruling Liberal Democratic Party of undermining in a fundraising scandal However, the ruling coalition, consisting of the LDP and its junior partner the Komeito party approved the bill passed in the Diet Japan s national legislature the previous day before the end of the current ordinary parliamentary session on Sunday The LDP has come under intense scrutiny amid allegations that some of its factions particularly the largest formerly led by the late Prime Minister Shinzo Abe neglected to report portions of their income from fundraising parties and created slush funds for years Japanese PM Kishida sees off no - confidence motion TEL AVIV I N P Israel’s top army spokesman Rear Admiral Daniel Hagari acknowledged on Wednesday that while Hamas can be targeted militarily, its underlying ideology remains indefeatable This statement has prompted the Israeli government to reaffirm its commitment to dismantling the Palestinian militant group During a broadcast on Israel s Channel 13 Hagari commented on the ongoing conflict, which escalated dramatically following Hamas s unprecedented attack on Israel on October 7 Despite more than eight months of warfare which has not dislodged H a m a s b u t c a u s e d e x t e n s i v e d estruction in Gaza he stated Hamas is an ideology; we cannot eliminate an ideology ” Hagari emphasized the futility of trying to eradicate Hamas without addressing the broader ideological challenges saying To say that we are going to make Hamas disappear is to throw sand in people s eyes If we don’t provide an alternative, in the end, we will have Hamas ” The Israeli Prime Minister Benjamin Netanyahu s office quickly countered Hagari s remarks The official statement underscored that the government s ongoing offensive in Gaza aims to destroy Hamas s military and governmental capabilities, clarifying “The political and security cabinet headed by Prime Minister Netanyahu defined as one of the goals of the war the destruction of Hamas military and governmental capabilities The IDF is of course committed to this
in
Israel’s militar y spokesman says Hamas ’s ideology c annot be defeated
Message of Naval C hief
Naveed A shraf on World Hydrography D ay 2024
ICCI to host ‘All Pakistan C hambers Presidents Conclave’ on June 25
community and put forward proposals to the government for resolving them He said the event aims to discuss important issues share ideas and collaborate on initiatives that promote economic growth and development The conclave will feature keynote speeches, panel discussions, and networking opportunities, providing a platform for business leaders to engage with each other and with policymakers He said that at the moment the economy of the country is facing multiple challenges, which have slowed down the business activities, therefore, the ICCI felt the
need to bring the leadership of the entire business community at one place and give comprehensive as well as workable proposals to the government for the revival of business and economic activities Ahsan Zafar Bakhtawari added that on the occasion the federal ministers concerned would also take the business community into confidence about the government’s measures to promote ease of doing business in the country He expressed optimism that APCPC would prove instrumental in building more confidence between the government and the business community to put the economy of Pakistan on the path of sustainable economic growth
The poliovirus has been detected in sewage samples from Karachi and Peshawar, sourced said on Thursday The sources further said, the poliovirus was detected in sewage samples of Karachi’s Kemari and
Peshawar Sources added, the samples were collected on June 3rd and 4th and the results show the presence of wild poliovirus type 1 and vaccine-derived poliovirus type 2
07 NEWS Friday 21 June 2024 | ISLAMABAD CORPORATE CORNER ISLAMABAD S TA F F R E P O R T Google for Education and Pakistan s Ministry of Federal Education (MoFE) today announced a strategic collaboration to bring digital transformation to millions of students in the country The partnership will improve access to education and support the development of a digital ecosystem for learning - for Pakistan s tens of millions of students Google, through its Google for Education’s country partner, Tech Valley, will work with the Pakistani government to: Establish a local assembly of over 500 000 Chromebooks by 2026 • Provide access to digital tools and resources for students and teachers Train teachers on how to use technology effectively in the classroom Develop and implement innovative learning programs that leverage technology The collaboration will focus on helping out-of-school children in Pakistan Last month, the Prime Minister of Pakistan, Shehbaz Sharif, declared an "education emergency" to address the issue of over 26 million children being out of school He pledged to oversee a national program to enroll these children back into educational institutions and expressed his hope for the provincial governments support in achieving this goal As part of the collaboration, Allied, an Australian manufacturer of Google Chromebooks, will establish an assembly line in Pakistan to locally assemble Google Chromebooks making them more affordable for educational purposes Google, MoFE par tner to bring educ ation access, digital transformation to millions of students Common man will never be able to build own home now: Vawda ISLAMABAD S TA F F R E P O R T Senator Faisal Vawda opposed the imposition of new taxes in the fiscal year budget 2024-25, saying that the common man would not be able to buy a home Senator Saleem Mandviwala chaired a meeting of the Standing Committee on Finance that also opposed a proposal to impose of tax on hybrid and electric vehicles in the next fiscal year s budget Speaking on the occasion, the independent Senator said that due to the imposition of taxes in the new budget on the International Monetary Fund’s (IMF) ‘demand’ the property market in Pakistan has come to a halt Senator Faisal Vawda also opposed the imposition of additional taxes on hybrids and electric vehicles He said that additional taxes on vehicles are not acceptable, demanding that the concerned minister should be summoned and asked for an explanation “The new taxes should not be proposed or else I will speak out openly The electric vehicles are being encouraged all over the world but due to changes in taxes and policies no one sets up industry in Pakistan Senator Faisal Vawda said I know who is taxing the vehicles, I should not be forced to speak out in public, he added The Senate Committee on Finance decided to call up Minister for Industries and Production Rana Tanveer Hussain Rana Tanveer Hussain to the committee for the explanation During the meeting the Senators were informed that the 25 percent tax exemption for vehicles costing more than 15 million has been proposed to be abolished At this Chairman Federal Board of Revenue (FBR) told the committee members that this was proposed by the Ministry of Industries and Production not by the FBR The FBR officials said that taxes have been proposed on imported vehicles and locally manufactured would not be charged with additional taxes Enmit y between rival groups of Pahore Tribe claims two lives JACOBABAD S TA F F R E P O R T An old enmity between two groups of Pahore Jutt Tribe settled in Jacobabad killed two men of a group on Thursday Armed persons of a group attacked the rival people when they were going to the local court for the hearing The assassins attacked the rival group at the Old College Road in Jacobabad and killed two people on the spot and the other one injured badly The accused escaped from the crime scene without any resistance or quick response from the law enforcers after the attack Jacobabad police said the incident occurred in the limits of the City Police Station The dead bodies and the wounded person were shifted to the hospital The police said the deceased have been identified as Munir Pahore and Hayat Pahore who belong to Mehran Pahore a village on the outskirts of Thal The police said the incident occurred on a longstanding dispute between two groups of the Pahore community The police said the area had been cordoned off to arrest the accused Historically, Pohare gotra originated from Raja Poru of Kekaya Kingdom Pahores refers to a clan of Rajputs who descended from King Porus or the ancient tribe called Puru The alternative spellings of the name are Pahor and Pahur Pahore clan is found in northern districts of Sindh They are found in Karachi, Hyderabad, Nawabshah, Dadu, Khairpur Sindh, Larkana, Jowngal, Sukkur and Shikarpur, Chachran, Mauza and Pahore
World Hydrography Day (WHD) is celebrated worldwide on 21st June each year to raise awareness about the importance of hydrography and how it plays an important role in improving our knowledge of the oceans The theme chosen by International Hydrographic Organization (IHO) for WHD-24 is Hydrographic Information Enhancing Safety Efficiency and Sustainability in Marine Activities which aptly underscores the criticality of hydrographic services in contemporary maritime affairs Annual celebration of this day emphasizes importance of hydrography as it underpins almost every activity associated with the sea including safety of navigation security and defence environmental protection ports/ harbour construction, coastal zone/ disaster management and maritime boundary delimitation PR PR OFIT N E W S D E S K P A K I S TA N’s local mobile phone manufacturing and assembly industry has experienced significant growth with 2 23 million units produced in May 2024 marking a 55% year-on-year increase, according to the latest data from the Pakistan Telecommunication Authority (PTA) This brings the total for the first five months of 2024 to 13 1 million units up 168% from the same period last year This growth is due to end of import restrictions imposed last year and the gradual economic recovery As a result, Pakistan now meets 95% of its mobile phone demand through local manufacturing and assembly an increase from the five-year average of 67% (20192023) and the eight-year average of 47% (2016-2023) All major mobile brands, except iPhone, are now being manufactured or assembled in Pakistan Over the past three years the country has shifted from imported mobile phones to local manufacturing and assembly, following the government’s local mobile manufacturing policy announced in 2020 This policy aimed to attract international mobile companies to establish assembly plants in Pakistan The affordability of locally manufactured phones, which are priced 1520% lower than imported phones of the same quality, has also driven this shift In 2016 only 1% (0 29 million units) of mobile phones were assembled locally while 99% (21 36 million units) were imported By the first five months of 2024, local manufacturing and assembly accounted for 95% (13 08 million units) of mobile phones, with only 5% (0 75 million units) being imported Within the locally assembled phones, 62% (8 1 million units) are smartphones, while 38% (4 98 million units) are 2G phones The peak demand for mobile phones in Pakistan occurred in 2020 with 37 56 million units driven by the COVID-19 pandemic and the subsequent increase in remote work ecommerce, and online education According to Topline Pakistan Research, with the current monthly production rates and the recent imposition of an 18% sales tax on all mobile phones in the FY25 budget the total demand for mobile phones in 2024 is projected to reach 30-35 million units compared to 22 9 million units sold in 2023 In the listed sector, Air Link Communication (AIRLINK) is a major beneficiary of the expanding market and the growing share of local mobile phones AIRLINK is trading at an FY24E PE of 8 4x and an FY25F PE of 5 4x Similarly, 7% of Lucky Cement s (LUCK) consolidated revenue comes from its mobile business, which will also benefit from the rising local demand for mobile phones LUCK is trading at an FY24E PE of 4 1x and an FY25F PE of 3 6x
SURGES 55% IN MAY 2024, FULFILLING 95% OF DOMESTIC DEMAND g ECONOMIC RECOVERY AND IMPORT RESTRICTIONS DRIVE A SHIFT TO LOCAL PRODUCTION PTCL, Huawei conduc t first symmetric 50G-PON trial to pioneer next generation fiber optic broadband
S L A M A B A D: Pakistan Telecommunication Company Limited (PTCL), country s largest telecom and ICT services provider, proudly announces Pakistan's inaugural trial of Symmetric 50G-PON technology marking a significant stride towards ushering in next-generation fiber-optic broadband services in the country This achievement is the culmination of PTCL s strategic collaboration with Huawei a global leader in information and communication technology Symmetric 50G-PON can provide 50 Gbps connectivity in downstream as well as upstream transmission simultaneously Symmetric 50G-PON provides an edge over the Asymmetric 50 G-PON which supports 50 Gbps in downstream transmission only PTCL also inaugurated Asymmetric 50G-PON for the very first time in Pakistan at the beginning of the year PR BankIslami launches Banking Lounge for freelancers, IT expor ters to enhance collaboration, networking L A H O R E: BankIslami a leading financial institution, is proud to announce the opening of its exclusive Priority Banking lounge for Freelancers and IT Exporters a cost-free workspace This initiative aims to provide a pleasant environment for freelancers to work collaborate and network The BankIslami Priority Lounges are equipped with modern facilities ensuring a productive and comfortable experience for freelancers absolutely free of cost With features like free access to hispeed internet, free refreshments including coffee/tea, and convenient access to banking services freelancers can now enjoy a seamless and efficient workspace At Lahore BankIslami Raya Branch the event was attended by esteemed guests & individuals from Bankislami PAFLA & SBP along with top freelancers from Pakistan From the State Bank of Pakistan, Senior Joint Director –Foreign Exchange Operation Department Mr Javed H Nayar graced the event as the guest of honor BankIslami’s representative voiced his thoughts highlighting We understand how essential freelancers & IT Exporters are for Pakistan s economy Our Priority Banking lounges are designed to empower freelancers & IT Exporters by providing them with a conducive workspace and access to banking services ”The representatives from PAFLA and the State Bank of Pakistan expressed their appreciation for BankIslami s efforts and also assured the fullest support in such useful initiatives in future During the event BankIslami also presented shields to the guests and distributed exciting giveaways to the freelancers PR ISLAMABAD S TA F F R E P O R T The Islamabad Chamber of Commerce and Industry (ICCI) is organizing an “All Pakistan Chambers Presidents Conclave (APCPC) on June 25 and 26 The conclave will hopefully be attended by Federal Ministers of government s economic team and Presidents of over 70 Chambers of Commerce and Industry The ICCI President
at one platform to discuss the key issues
business
LOCAL MOBILE MANUFACTURING
I
Ahsan Zafar Bakhtawari in a statement issued here on Thursday said that it is at the credit of the ICCI that it took the initiative to organize first APCPC in 2020 to bring Presidents of all Chambers of Commerce & Industry
of
F R
PESHAWAR KARACHI S TA F
E P O R T
and 3 So far this year, 185 samples from all four provinces have tested positive for polio, and 45 districts across the country have reported polio cases Pakistan has reported five polivirus cases in 2024 so far while an infected kid passed away battling the crippling disease Pakistan and Afghanistan are the only two countries in the world where the poliovirus, which causes paralysis and can be a life-threatening disease is endemic Poliovirus
in sewage
FAISALABAD S TA F F R E P O R T The death toll from an incident of fire at a house in Sharifpura locality of Faisalabad Wednesday rose to four as two more people, who had been admitted to the city’s Allied Hospital’s burns unit, died on Thursday Those who died were three-year-old Ibrahim and 32-year-old Nargis Still five people are under treatment at the unit for their injuries In all, nine persons had been completely burnt in the incident On Wednesday, it has been had reported that two children succumbed to their injuries and many others were hospitalized with serious burn wounds when an overheated laptop exploded and led to a massive fire in a house in Faisalabad Nine people of a family including children received serious burn injuries after the laptop exploded They were rushed to Allied Hospital s burn unit where six-year-old Dua Fatima and nine-year-old Talha breathed their last during treatment The condition of the remaining people was said to be serious as 35 to 72 per cent of their bodies were burnt The blaze started in one room but soon it engulfed the whole structure After receiving information, Rescue 1122 personnel rushed to the site and brought the fire under control According to doctors Dua Fatima s body was burnt 42 percent and Talha s 38 percent Among the other injured, eightyear-old Iryan and Imran s bodies were burnt 45 percent, three-year-old Ibrahim’s 70 percent Nargis’s 72 percent Rashida Bibi and Farhat’s 60 percent and Makki Raza s 58 percent Fa i s a l a b a d l a p t o p e x p l o s i o n t o l l r i s e s t o f o u r
‘detec ted’
samples of Karachi, Peshawar
PM VISITS REVAMPED NEOC, TERMS NDMA SAFET Y
AGAINST IMPACT OF CLIMATE CHANGE
validation mechanism at the NMDA assuring the government s support and funding for the staffers training and procurement of equipment “This is not normal This is not usual This is far above normal and usual ” he said and asked the federal ministers and secretaries to follow the role model to make Pakistan a great nation He asked the NDMA to ensure close coordination with the provinces, including Gilgit-Baltistan and Azad Jammu & Kashmir, and advised the procurement of equipment through coordination to avoid duplication This is not an expenditure This is an investment to save our future
investments he remarked He told the gathering that the Federal Government had allocated Rs80 billion for the promotion of information technology, besides signing an agreement with Huawei for training of 300 000 Pakistani youngsters in IT (Information Technology) annually
The prime minister highly applauded the genesis of NEOC with the cuttingedge technology and team NDMA for actualizing the first of its kind centre in Pakistan and region which was a testament to Pakistan’s commitment for disaster readiness and mitigation NDMA Chairman Lt Gen Inam Haider Malik briefed the prime minister about capabilities of the NEOC, enabled by multiple satellite feeds, softwares and artificial intelligence tools, to generate a National Common Operating Picture (NCOP) strengthening digital risk assessment early warning systems and preparedness strategies for Pakistan The briefing also highlighted the NEOC s capability to forecast weather patterns six to ten months in advance not only at national but regional level also The chairman elaborated on the modus operandi of NDMA and highlighted how the NEOC served as a hub for emergency response and coordination among PDMAs, DDMAs, relevant ministries/departments and other pertinent stakeholders including domestic-International humanitarian partners ensuring
KP govt stipulates financial conditions for suppor ting IMF objec tives
The Khyber Pakhtunkhwa (KP) government has laid out two conditions for the federal government including the release of outstanding electricity payments and
creased
districts, which are
support
Monetary
(IMF)
for
refusing to meet the said authority, DSJ Abbas alleged that ever since then, he had been encountering various incidents, such as firing outside his ATC and questioning from family members, among others CJ Ahmad had reserved his verdict in the matter on June 13 and announced it on Thursday (today) The written order said: It is unfortunate to note that it is duty of the state to provide protection and pay respect to the courts but perusal of the special reports sent by the learned judge ATC Sargodha and assistant of the said court shows that prima facie the state departments have been causing serious threats/harassment to the courts and its staff and creating hurdles in the court process Furthermore the state departments have denied the constitutional rights of citizens of this country of having the protection of law and to be treated in accordance with the law while restraining them to approach the above-mentioned court The order termed the Punjab police chief ’s report in the matter “highly unsatisfactory” saying that it did not mention whether any ISI official was approached by the police to verify the ATC judge s allegations against the agency In one of many examples cited in the order about police and state departments impeding the work of the judges, LHC chief justice said that 12 transfer applications were filed by the Punjab prosecutor general for the transfer of cases from Rawalpindi ATC1 “In the said transfer applications it was main ground of the prosecution branch that as a reference/complaint has been filed against the judge of the abovementioned court therefore the cases pending in his court may be transferred to any other court of competent jurisdiction
for
Syed Muzammil Aslam emphasized that the
government owes
Rs 158 billion for
ity dues and needs to disburse an additional Rs 144 billion for the development of the merged districts Despite a significant 60% salary increase over two years the allocated Rs 66 billion for these districts remains inadequate, according to Aslam Aslam highlighted that KP is grappling with severe electricity shortages and is willing to aid in meeting
SC rejec ts ECP plea to suspend LHC C J’s decision on elec tion tribunals ’ formation
The Supreme Court (SC) on Thursday rejected an appeal moved by the Election Commission of Pakistan (ECP) against the formation of election tribunals by the Lahore High Court
The two-member bench of the Supreme Court led by Justice Isa and Justice Naeem Afghan heard the Election Commission s appeal The commission s lawyer, Sikandar Bashir, and PTI lawyer Salman Akram Raja appeared before the court The bench after hearing argument from all parties turned down the ECP s plea and bench forwarded the matter to the SC com-
mittee for formation of a larger bench During proceedings Chief Justice of Pakistan Qazi Faez Isa observed that issuing presidential ordinances is an insult to Parliament, saying that if ordinances are to be issued, the House should be suspended In response, the Election Commission of Pakistan’s (ECP) lawyer noted that the Constitution does permit the issuance of ordinances During the Supreme Court hearing on the ECP s appeal regarding the formation of eight election tribunals, the Election Commission’s lawyer argued that forming tribunals is within the commission s authority under Article 219(c) of the Constitution
The commission had written to all high courts on February 14 to request lists of judges names for tribunal appointments The Lahore High Court provided two names on February 20, and these judges were notified as election tribunal members On April 26, two more judges were appointed with no disputes arising over the formation of four tribunals
The chief justice questioned why the Chief Election Commissioner and the chief justice of a high court couldn t meet to resolve issues, criticising the tendency to make everything contentious in Pakistan He noted that there had also been a dispute between the president and the ECP over election dates
35 Pak istani pilgrims died during Hajj
bathing [the body], funeral prayers are offered here and burial takes place in Saudi Arabia ” In case the family wants the body back, it said, arrangements are made to send it to Pakistan Media reports suggest that friends and family of missing Hajj pilgrims are searching hospitals and pleading online for news fearing the
Saudi summer
Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited Ph: 051-2204545 Email: newsroom@pakistantoday com pk PRAYER TIMINGS FA J R S U N R I S E Z U H R A S R M AG H R I B S H A 4:00 4:58 1 30 5:30 7:13 9:15 Friday 21 June 2024 NEWS ISLAMABAD S TA F F R E P O R T At least 35 Pakistanis have lost their lives while performing Hajj this year due to extreme weather conditions, the Ministry of Religious Affairs confirmed on Thursday According to an AFP report over 900 pilgrims died during Hajj with scorching temperatures and heat exhaustion blamed for many fatalities Fatalities have been reported by Egypt, Pakistan, India, Jordan, Indonesia, Iran, Senegal, Tunisia, and Iraq Director General of Pakistan’s Haj Mission Abdul Wahab Soomro said that as of 4pm on June 18 a total of 35 Pakistani deaths had been reported 20 in Makkah six in Madina, four in Mina, three in Arafat, and two in Muzdalifah “Due to a temperature of 50°C, this was a tough Hajj,” the official said Soomro also dismissed social media claims of leaving the pilgrims helpless We trust the Saudi government s information and we confirm it ourselves as well whenever there s a death We are informed Meanwhile, the ministry added that under the Saudi government s rules they seek permission from the heirs of the family for burial After
the means must
least once Its
is determined
the Islamic
shifting
each year in
calendar
mainly out-
fallen during the sweltering
worst The Hajj is one of the five pillars of Islam and all Muslims with
complete it at
timing
by
lunar calendar,
forward
the Gregorian
For the past several years the
door rituals have
PESHAWAR A Z I Z B
R
U N E
I
the IMF s objectives However he stressed that the federal government must fulfill these financial obligations first He urged prioritization of these payments and the necessary funding for the merged districts This demand arises as KP faces financial difficulties amid an ongoing energy crisis and escalating economic challenges While the provincial government has repeatedly sought its rightful share from the federal budget persistent funding and resource allocation disagreements have stalled negotiations The IMF has imposed stringent conditions on Pakistan for financial aid, demanding fiscal discipline
structural reforms
align-
with these conditions hinges
receiving adequate support from the federal government which has been lacking to date
in-
funding
merged
crucial
its
to meet the International
Fund
targets Provincial Finance Minister
federal
KP
electric-
and
KP’s
ment
on
ISLAMABAD S TA F F R E P O R T P R I M E Minister Shehbaz Sharif on Thursday, lauding the revamped National Emergencies Operation Center (NEOC) equipped with multiple satellite feeds and artificial intelligence tools expressed the hope that the National Disaster Management Authority (NDMA) would prove to be a safety wall for Pakistan against the impacts of the climate change “Due to climate change Pakistan is in the red zone and among the top ten vulnerable countries We should not lose our morale rather work hard After this achievement, I have no doubt that the NDMA, in coordination with provincial PDMAs, will become a safety wall for Pakistan the prime minister said during his visit to the NEOC here along with the federal ministers and secretaries This was the maiden visit of the prime minister since the revamped NEOC was inaugurated in October last year He highly appreciated NDMA Chairman Lt Gen Inam Haider Malik for realising his dream of focusing on the capacity building and human resource development of the Authority instead of an earlier planned project of building an office tower Referring to his previous meetings following the floods of 2022, the prime minister said he had suggested the NDMA chief to prioritise the capacity building of the organisation by equipping it with the latest technology input from the provinces and recruitment of permanent human resources, besides establishing a digital hub “Today the way that dream has been realised deserves applause I don t think any province has achieved such capacity with the world-class systems I am happy that instead of a highrise building, you invested in this digital hub, the prime minister remarked He said the 2022 floods had inflicted a $30 billion loss to the country which would take years to overcome as the Federal Government alone had spent Rs100 billion for the rehabilitation of affected population, besides the funding from provinces as well as aid from the friendly countries He said consequent to the efforts by that time Climate Change Minister Sherry
Foreign Minister Bilawal Bhutto
Rehman
federal
provincial
the country was able to re-
millions of people PM Shehbaz appreciated the meritbased induction of quality human resource
establishment
a third-party
Zardari and other
and
organisations,
habilitate
and
of
effective
during all
disasters specifically pre dis-
swift and
response
phases of
aster stage
Alleged blasphemer burnt alive by mob in Swat’s Madyan SWAT S Y E D S H A H A B U D D I N An alleged blasphemer was burnt alive by a mob over alleged desecration of the Holy Quran in Madyan area of Swat district on Thursday night, the police said According to hospital sources eleven local people have also been injured and shifted to Madyan Civil Hospital and Saidu Sharif Hospital for medical aid After the incident people blocked the main highway of Kalam by closing Madyan Bazaar According to Swat DPO Dr Zahidullah, the tragic incident took place after people informed the police that a tourist from Sialkot, identified as Sulaiman, committed blasphemy by setting ablaze the Holy Quran The DO said that the police arrested Sulaiman and shifted him to Madyan police station but a large number of people besieged the police station after making announcements through loudspeakers from local mosques The police resorted to fire into the air to disperse the crowd, but the crowd entered the police station Dr Zahid further said that the angry people set fire and vandalized DSP Madyan’s office building and police vehicles The angry people also snatched the accused from the possession of the police and after dragging him on streets, they set him on fire and killed him, the DPO confirmed The DPO and other police officers have also reached the spot and heavy police force has been called into the area to deal with any untoward incident DPO Khan said a heavy police force was deployed in Madyan and was trying to control the tense situation IG Police KP Akhtar Hayat Khan has also taken strict notice of the incident and has sought a report from DPO Swat More details are awaited while an investigation is underway Videos making the rounds on social media show a mob circling a body on fire in the middle of the road as well as people gathered in huge numbers outside a police station Meanwhile a statement posted by the PTI said KP Chief Minister Ali Amin Gandapur took notice of the unfortunate incident and contacted the provincial police chief on the matter Summoning a report, he ordered the police chief to take measures on an emergency basis to control the situation Expressing regret over the incident the chief minister appealed to the people to remain peaceful Singer Malku contests inclusion in PNIL at LHC LAHORE I N P Singer Muhammad Ashraf widely known as Malku has filed a legal challenge in the Lahore High Court (LHC) against his inclusion in the Professional National Identification List (PNIL) Represented by Azhar Siddique Advocate, the petition names the federal government among other respondents In his petition, Malku asserts that his name was wrongfully added to the PNIL in March 2024 He highlights his absence from the country during this period noting he was in the UK for a music concert from June 19 to July and states there are no legal cases against him that would warrant such inclusion Malku is seeking a court order for the removal of his name from the PNIL, claiming that his inclusion was illegal SUPARCO Chief champions equitable access to space at UN session VIENNA I N P Chairman of the Space and Upper Atmosphere Research Commission (SUPARCO) Muhammad Yousuf Khan on Thursday affirmed Pakistan s commitment to the peaceful use of outer space, describing it as humanity s common heritage His remarks were delivered during the opening session of the 67th session of the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) which convened in Vienna and will run until June 28 In his address Khan emphasized the importance of equitable and non-discriminatory access to outer space, a principle echoed in a news release from Islamabad on Thursday The SUPARCO Chairman highlighted Pakistan’s recent achievements in space technology including the successful launches of the iCUBE-Qamar satellite and the PakSat-MM1 communication satellite earlier in May State depar tments causing serious threats, harassing cour ts: LHC CJ LAHORE S TA F F R E P O R T Lahore High Court (LHC) Chief Justice (CJ) Malik Shahzad Ahmad on Thursday declared that state departments are causing serious threats to and harassing the courts and their staff along with creating hurdles in the dispensation of justice The LHC chief justice made the observation while issuing written decision on a case of the alleged threats to a judge of a Sargodha Anti-Terrorism Court (ATC) and his harassment by the intelligence and law enforcement agencies Last week CJ Ahmad had summoned Punjab Inspector General of Police (IGP) Usman Anwar and other officials on the complaint The LHC registrar office had received a special report on June 7 from District & Sessions Judge (DSJ) Muhammad Abbas, wherein he said that on May 25 the first day of his new charge as Sargodha ATC judge a message was conveyed to him that some authority of the Inter-Services Intelligence (ISI) wanted to meet him in his chamber Upon
Loved ones search for missing as Hajj death toll passes 900 Friends and family searched for missing hajj pilgrims on Wednesday as the death toll at the annual rituals, which were carried out in scorching heat, surged past 900 Relatives scoured hospitals and pleaded online for news, fearing the worst after temperatures hit 51 8 degrees Celsius (125 Fahrenheit) in the holy city of Makkah on Monday About 1 8 million people from all over the world many old and infirm took part in the days-long mostly outdoor pilgrimage held this year during the oven-like Saudi summer An Arab diplomat told AFP that deaths among Egyptians alone had jumped to at least 600 from more than 300 a day earlier mostly from the unforgiving heat That figure brought the total reported dead so far to 922, according to an AFP tally of figures released by various countries Mabrouka bint Salem Shushana of Tunisia, in her early 70s, has been missing since the climax of the pilgrimage on Saturday at Mount Arafat her husband Mohammed told AFP on Wednesday Because she was unregistered and did not have an official hajj permit she was unable to access air-conditioned facilities that allow pilgrims to cool down he said She s an old lady She was tired She was feeling so hot and she had no place to sleep he said I looked for her in all the hospitals Until now I don t have a clue Facebook and other social media networks have been flooded with pictures of the missing and requests for information Those searching for news include family and friends of Ghada Mahmoud Ahmed Dawood, an Egyptian pilgrim unaccounted for since Saturday “I received a call from her daughter in Egypt begging me to put any post on Facebook that can help track her or find her said one family friend based in Saudi Arabia who spoke on condition of anonymity because he did not want to anger Saudi authorities The good news is that until now we did not find her on the list of the dead people which gives us hope she is still alive The hajj is one of the five pillars of Islam and all Muslims with the means must complete it at least once Its timing is determined by the Islamic lunar calendar, shifting forward each year in the Gregorian calendar A F P ISLAMABAD
TA F F R E P O R
WALL
S
T