Friday, 10 February, 2023 I 18 Rajab, 1444
g FINANCE SECRETARY SAYS SOME POINTS YET TO BE SETTLED BETWEEN PAKISTAN, FUND
ISLAMABAD SHAHZAD PARACHA
PAKISTAN and the International Monetary Fund (IMF) have failed to reach a Staff Level Agreement even after ten days of crucial talks.
Secretary Finance told the media late Thursday night that the negotiations
g SAYS IMF PARTIALLY HANDED OVER MEMORANDUM OF ECONOMIC POLICIES
try’s dwindling economy as the State Bank of Pakistan (SBP)-held foreign exchange reserves have fallen to $2.91 billion.
with the IMF have been completed. He said that the IMF team has assured us of striking a staff-level agreement in the coming days as there are some points to be settled between Pakistan and the IMF, which will be decided by the Washington office of IMF explaining that the Fund team wants to further elaborate some agreed points with their high ups.
He also said that both sides reached
agreement on prior actions, without explaining the numbers of prior actions. Hamid Yaqoob said that We (IMF team in Pakistan and the Finance ministry) are waiting for an IMF statement which will be released by the lender’s US office.
The Secretary Finance said that the IMF has partially handed over the Memorandum of Economic Policies (MEFP) as we discussed all the points in detail.
As talks between the federal government and the International Monetary Fund (IMF) entered final and decisive stages in the late hours on Thursday, finance minister Ishaq Dar has said good news is on the offing.
And of all the places for this reassurance to have come, it was a road safety conference for parliamentarians in Islamabad. The finance minister was supposed to speak about the plans that the government has for the National Highway Authority (NHA) and about road safety but the tension in the conference hall was palpable — and Dar had to speak about the elephant in the room.
“Everything is going alright,” he said in response to a question on how the discussions with the visiting IMF delegation were going. “The final round is going on right now. I meet them (IMF team) every day and will today as well. “It is expected matters will be settled today,” Dar said. “We will give you the news very soon.”
Things have been tense in the country over the past few weeks with reserves falling to dangerous levels as the government desperately fights off sovereign default. While the IMF program had been on track a few months ago, things have taken dramatic turns since Dar assumed the chiefdom of Q-
block and entered a Mexican Standoff with the fund.
On the same day, Pakistan’s foreign exchange reserves held by the central bank decreased by $170 million to $2.9 billion. A successful outcome with the IMF would also help to release money from other platforms that are looking for a greenlight from the lender. The SBP handout issued today said that the decrease was due to “external debt payments”. Meanwhile, net foreign reserves held by commercial banks stood at $5.6bn, bringing the country’s total liquid foreign reserves to $8.5bn. Arif Habib Ltd calculated that reserves were at their lowest since February 2014 and cover a little more than two weeks of imports.
The total liquid foreign reserves left with the country, including the net reserves with the banks now stand at $8.54 billion. Taking into account the controlled imports for the last two months, and a landslide
depreciation of the Rupee in the last 15 days, Pakistan’s current import cover now stands at close to 2 weeks of imports.
For the last one month, each week relays a new figure for the lowest amount of reserve level that the SBP forex reserves have touched, in the last 8 years. However, at $2.92 billion, Pakistan no longer has the room to slide lower. On 7th February 2014, Pakistan’s foreign reserves were at $2.84 billion, which is the only time Pakistan’s reserves were below the current level.
It is also important to note that with the current value of the greenbacks, both against the PKR and by itself, makes the current level of reserves, the lowest ever in at least the last 2 decades, in real terms. Last week, the dollar dropped a whopping $592 million, bringing the SBP reserves to $3.09 billion.
Briefly talking to the media after ‘Road Safety Conference for Parliamentarians, he said that things are going on the right track and I am hopeful that negotiations will be completed today. Earlier, addressing the audience at the conference, the pressure on road infrastructure is increasing because other means of transport are relatively inefficient. Hence, ensuring effective road safety measures are essential for socio-economic development.
C ONTINUED ON PAGE 05
Pakistan’s foreign reserves down by $170m to $2.9b
Arif Habib Ltd calculated that reserves were at their lowest since February 2014 and cover a little more than two weeks of imports.
Pakistan’s foreign exchange reserves held by the central bank decreased by $170 million to $2.9 billion in the week ending on February 3, the State Bank of Pakistan (SBP) said on Thursday.
The country is locked in negotiations with the International Monetary Fund (IMF) to release muchneeded money under a stalled bailout programme.
A successful outcome with the IMF would also help to release money from other platforms that are looking for a greenlight from the lender.
The SBP handout issued today said that the decrease was due to “external debt payments”.
Meanwhile, net foreign reserves held by commercial banks stood at $5.6bn, bringing the country’s total liquid foreign reserves to $8.5bn.
Earlier in the day, Finance Minister Ishaq Dar said that matters between the government and the IMF were expected to be settled today.
Cash-strapped Pakistan has been holding talks with the IMF in a bid to unlock funds from a $7 billion bailout designed to ward off an economic meltdown. The talks are meant to clear the IMF’s 9th review of its Extended Fund Facility, aimed at helping countries with balance-of-payments crises.
The lender had set several conditions for resuming the bailout, including a market-determined exchange rate for the local currency and an easing of fuel subsidies. The central bank recently removed a cap on exchange rates and the government raised fuel prices by 16 per cent.
On a question, he replied that the IMF team has also assessed the sources of foreign inflows but they are satisfied with our working or assurances. Earlier, it was reported that the IMF expressed its unease over the projections made by the Ministry of Finance over external financing inflows from multilateral, bilateral creditors and in the shape of commercial loans.
The IMF’s loan is critical for the coun-
The IMF team on the request of the Pakistani government visited Islamabad and negotiations continued for 10 days.
Earlier, Briefly talking to the media after ‘Road Safety Conference for Parliamentarian, Ishaq Dar has expressed the hope that there would be positive outcome on ongoing talks with the IMF on 9th review. Things are going on the right track and I am hopeful that negotiations will be completed today, he claimed.
PUNJABGovernor Baligh urRehman told the Lahore High Court (LHC) on Thursday he is not responsible for announcing the election date in the province after the parliament’s dissolution.
In an eight-page response to the court, the governor, a Pakistan Muslim LeagueNawaz (PML-N) stalwart, rejected the charge he is obstructing the Election
Commission of Pakistan (ECP) from performing its duties, and referred to them as “fallacious.”
He emphasised that he was not obligated to appoint the election date as he had never dissolved the assembly, and did not act on the advice of the chief minister.
The response from the governor came as the court took up identical petitions moved by the Pakistan Tehreek-i-Insaf (PTI) party and a private citizen, Munir Ahmed, seeking a date for general elections in the province.
The former ruling party and Ahmed
approached the court after the governor declined to fix a date for the polls, despite a letter from the tribunal requesting him to do so.
During the hearing, the counsel for PTI, Syed Ali Zafar, argued the president could set the date if the ECP and governor failed to do so.
The additional attorney general, Nasar Ahmed, asked the court to form a larger bench to hear the case and expressed concerns about what would happen if the ECP failed to implement the order even after
the election schedule was announced.
The ECP counsel sought time to submit a reply, saying that he had just been appointed and had not yet seen the court orders in the case. He noted the commission is responsible for conducting elections, but the date must be set by the governor.
Justice Jawwad Hassan said that Article 105 of the Constitution needed interpretation and that the president is not a party in this case.
He announced to make a verdict after hearing the case by February 13. During the hearing, he also instructed the ECP and
ISLAMABAD
Prime Minister Shehbaz Sharif on Thursday directed the authorities concerned to make all-out efforts to achieve the Rs 30 billion loan target under the Prime Minister Youth Loan Scheme by end of June this year.
The prime minister, who chaired a review meeting on the PM Youth Loan Scheme, instructed to resolve all operational issues regarding the scheme on priority.
He said the government was taking remarkable steps for promotion of entrepreneurship and employment
among the youth. Besides the provision of easy loans to the youth was also being ensured.
He said the youth were an asset for Pakistan and the country’s progress was linked with their welfare.
The prime minister also set up a steering committee under him to examine the performance and pace of the youth loan scheme. The finance minister would also be part of the committee.
He said the Pakistani youths had immense potential with high morale and if provided with resources, they could change the country’s fate.
He said the collaborative work of the public and private sectors was
KARACHI Staff RepoRt
A petition was filed on Thursday in the Sindh High Court (SHC) against the ‘disappearance’ of Punjab Assembly Secretary Muhammad Khan Bhatti from Matiari district on his way to Karachi on February 6. Umer Iftikhar Bhatti, his son-in-law of ‘missing’ Muhammad Khan Bhatti, filed the petition in the Sinhd High Court against the ‘disappearance’ of the Punjab assembly secretary was moved by. The applicant stated that PA secretary was ‘picked’ from Matiari on February 6. Fearing torture, Umer Iftikhar pleaded with the SHC to pass orders for immediate recovery of his father-in-law. Later, the SHC issued notices to the inspector general of police, DG Rangers Sindh and the interior ministry and sought a response from them within 10 days. Earlier this week, sources within Pakistan Muslim League-Quaid (PML-Q) claimed that Punjab Assembly Secretary Muhammad Khan Bhatti had been arrested from Matiari. According to sources, the Punjab Assembly secretary was ‘arrested’ by Sindh police from Matiari area of the province. Later, his house in Gujranwala was also raided and a domestic employee was arrested.
Former Punjab chief minister (CM) Chaudhry Pervaiz Elahi has expressed concerns over the arrest, saying he fears that Bhatti may be subject to forcible disappearance.
BHATTI’S WIFE APPEALS TO CJP: Meanwhile, wife of Punjab Assembly Secretary Muhammad Khan Bhatti, who was arrested from Sindh, urged Chief Justice of Pakistan (CJP) Umar Ata Bandial to take notice of her “husband’s disappearance.” The wife of Punjab Assembly secretary along with her children met former chief minister Chaudhry Pervaiz Elahi in Lahore. Speaking on the occasion, Muhammad Khan Bhatti’s wife sought CJP Umar Ata Bandial’s intervention and
essential to cope with the prevailing challenges.
The meeting was told that starting from 2013, around 54,000 youth had been extended loan facility worth Rs 73.55 billion. A portal for the youth loan scheme was also launched on January 24, 2023.
Under the scheme, people from 18 to 45 years of age can get easy loans within 45 days. About 25 percent quota has been allocated for women.
The heads of participating banks and microfinancing institutions ensured to achieve the loan targets within the timeframe.
The prime minister also formed a
committee to address the operational issues regarding the loan scheme.
The committee would comprise Minister of State for Finance Ayesha Ghaus Pasha, Special Assistant to the PM Shiza Fatima, federal secretaries for information and poverty alleviation, founder of Akhuwat Foundation, State Bank governor, and presidents of National Rural Support Programme, Bank of Punjab, Habib Bank Limited, Zarai Taraqqiati Bank and Bank Al Falah.
The meeting was attended by SAPM on Youth Affairs Shiza Fatima, and heads and representatives of banks and microfinancing institutions.
ISLAMABAD MonitoRing RepoRt
Declaring that the Pakistan Tehreek-i-Insaf (PTI) government was dangerous for the country, former army chief Qamar Javed Bajwa has claimed if its chairman Imran Khan remained prime minister, there would have been no Pakistan.
During a conversation with journalist Javed Chaudhry, who’s widely believed to be tied to the government, Bajwa claimed that in a cabinet meeting, then-prime minister Khan used a vulgar word in the Punjabi language to describe Mohammed bin Salman, the Saudi crown prince.
According to Bajwa, the incident was later reported to the Saudi ambassador in Islamabad by one of Khan’s ministers, though the identity of the minister was not disclosed by the former army chief.
Chaudhry, who met Bajwa for a second time in a month, published the conversation in his weekly column for Express News.
He said he had asked Bajwa whether he had prevented Khan from resigning from the National Assembly after his ouster in April last year, to which he replied affirmatively. According to Chaudhary, Bajwa had told Khan: “prime minister! You have lost only one match, the series is still there for you to compete in.”
Bajwa said he told Khan there was a difference of only two votes between the PTI party and the Pakistan Democratic Movement (PDM) government in the parliament. He said he advised Khan not to resign from the National Assembly, citing the example of Khaleda Zia in Bangladesh, whose “entire party was virtually destroyed after she made
a similar mistake.”
The retired general said he had encouraged Khan to stay in parliament and emphasised that he would have another opportunity to form the government.
However, despite having received the message, Khan did not reply, and he lost contact with him.
When asked about the reasons behind bringing down Khan’s government, Bajwa denied any involvement. He claimed that their only wrongdoing was not saving Khan’s government, and that Khan himself had wanted them to intervene to prevent its collapse. However, Bajwa offered no evidence to support his claim.
Chaudhry then asked Bajwa why he did not save the PTI government, given that he “had done so in the past”. Bajwa replied that if he had acted in his own self-interest, he would have continued to support Imran Khan and retired with dignity, bidding farewell to him.
However, he claimed he chose to “sacrifice his own image for the benefit of the country”.
The Foreign Office confirmed on Thursday that 23 nationals were safely evacuated from the earthquakeaffected area in Turkey, and casualties among members of the Pakistani community residing in the transcontinental nation were reported.
The evacuees were accommodated in southern Adana city after being rescued from Gaziantep University. 16 of them will return to Pakistan while the rest will be transferred to Istanbul.
The Foreign Office is in constant communication with local authorities to provide relief to affected Pakistanis, said spokesperson Mumtaz Zahra Baloch at her weekly press briefing.
In response to a question about the outcome of meetings between Pakistan, Afghanistan, and Iran, Baloch emphasised the positive developments that
could come from the multifaceted dialogue. When asked about Pakistan’s absence from a multilateral security dialogue on Afghanistan in Moscow, Baloch explained: “We made the decision not to participate in the Moscow meeting of regional stakeholders. However, we will remain engaged and participate in all productive
discussions concerning Afghanistan.”
The spokesperson also announced that Rafael Mariano Grossi, director general of the International Atomic Energy Agency (IAEA), will visit Pakistan from February 15 to 16, to explore opportunities for advancing cooperation in peaceful applications of nuclear technology.
Asad Majeed Khan, Pakistan’s foreign secretary, will visit France on February 10 for the 14th Round of Bilateral Political Consultations, during which a roadmap for bilateral cooperation between the two countries will be signed, she added.
Regarding the recent eviction of Kashmiri Muslims from the Indian-occupied Jammu and Kashmir, the spokesperson condemned the use of land as a weapon to intimidate the people of the region and expressed support for the just and peaceful settlement of the dispute in accordance with the UN Security Council resolutions.
governor’s lawyers to submit their responses by Friday (tomorrow) and adjourned the hearing.
Fawad Chaudhry, senior vice president of the party, who was in attendance at the court, said if a date for the election is not declared within three days, it will be considered a violation of the 90-day deadline set in the Constitution.
Chaudhry, who is a former minister, accused the central government of trying to delay the polls and called for the court to hear the case on Saturday.
ISLAMABAD Staff RepoRt
Pakistan has decided not to participate in Multilateral Security Dialogue – a multilateral conference being hosted by Russia on Afghanistan, Foreign Office spokesperson Mumtaz Zahra Baloch announced on Thursday. “We decided not to participate in the Moscow meeting of regional stakeholders,” Foreign Office spokesperson replied when asked why Pakistan stayed away from the huddle on Afghanistan in Russia’s capital Moscow. She said Pakistan will continue to participate in all constructive meetings on Afghanistan. Russian Special Presidential Envoy for Afghanistan, Director of the Foreign Ministry’s Second Asian Department Zamir Kabulov told TASS last Friday that a meeting on Afghanistan between the secretaries of the security councils of Central Asian countries, Pakistan, India and China will be held in Moscow next week. “Yes, that’s true,” he said replying to a question on the matter. “There will be regional participants, the secretaries of the security councils of countries in the region are invited –our Central Asian partners, as well as Pakistan, India and China,” the diplomat explained. On May 27, 2022, a fourth round of multilateral consultations on Afghanistan between top security officials was held in Dushanbe.
ISLAMABAD Staff RepoRt
The larger bench of Islamabad High Court (IHC) on Thursday granted permission to PTI’s Chief Imran Khan to submit extra documents till March 1, in a case seeking his disqualification for hiding information about his alleged daughter Tyrian White in his nomination papers. The larger IHC bench headed by Chief Justice Aamer Farooq and comprising Justice Mohsin Akhter Kayani and Justice Arbab Muhammad Tahir heard the case filed by a citizen Muhammad Sajid. During the course of proceedings, the court instructed the petitioner’s lawyer to submit toshare a copy of the application and relevant documents with the counsel of Imran Khan. The court also accepted the request of Imran’s lawyer Salman Akram Raja for submission of extra documents in the case. The chief justice remarked that the admissibility of the case was also a matter before this bench. Justice Aamer Farooq observed that the court would hear the arguments on case merits if the petition was declared maintainable. He remarked that it had taken one year to submit comments on Faisal Vawda disqualification case and when the answer was submitted he was no more a member national assembly. The chief justice noted that the petitioner had alleged the PTI’s chief for hiding information in his nomination papers and affidavit as well. The ECP’s counsel said that the institution could provide verified copies of the documents if the court issued directions in this regard. He said that they would submit an answer if the petitioner challenged the notification of ECP. Petitioner’s counsel Suleman Butt requested the court to grant permission for submission of comments on the case merits. He said that the court had sought comments from Election Commission of Pakistan (ECP) on last hearing. The defence was using the delay tactics in this case as well, he added. Salman Akram Raja said that he would give arguments on the maintainability of the case, adding that he didn’t know why the petitioner was in haste. He also read out the previous orders of the court in the same case and said that the court had sought arguments on maintainability of the petition. He prayed the court to grant time for submission of the comments in this case. HE requested the bench to fox the case in first week of March as he was not available in last week of February. The court instructed the ECP to submit the verified documents and directed Imran Khan’s counsel to file comments before March 1.
SARDARMehtab Abbasi, a former chief minister of Khyber Pakhtunkhwa, has expressed criticism towards the leadership of his own party, the Pakistan Muslim League-Nawaz (PML-N), claiming that its policies have transformed it into a party aligned with the military
establishment.
During an address to party workers, Abbasi called for the preservation of dignity and respect, while also requesting discipline and a low profile during the upcoming visit of PML-N chief organiser Maryam Nawaz Sharif to Abbottabad.
Despite not having been consulted about Nawaz’s visit, Abbasi emphasised that she should not be disrespected in any manner.
ISLAMABAD Staff RepoRt
Pakistan Tehreek-e-Insaf (PTI) leadership lashed out the imported government and ECP for delaying the elections in Punjab and Khyber-Pakhtunkhwa (KP) assemblies through “creative excuses,” saying the government would not be let find escape from elections come what may. In a statement on Thursday, PTI Central Secretary General Asad Umer, PTI Senior Vice President Dr Shireen Mazari and PTI Central Secretary Information Farrukh Habib said that the imported government was using all options to evade elections. However, they stated that all their attempts to defer the polls would not succeed. Asad Umer said that the imported government cleared its position in the court on Thursday’s hearing that they would deviate from the constitution but would not hold the polls. However, he expressed optimism that God willing, the court would not let them run away and the elections would be held in the stipulated time. Dr. Shireen Mazari said that the 30 days were approaching since dissolution of Punjab and KP assemblies and the ECP did not announce dates for the election despite knowing that constitution provided no exemption to elections within 90 days. “Instead Munshis running around like headless chickens finding ways to evade elections,” she added. Farrukh Habib demanded that the Chief Justice of Pakistan should play a role for the rule of law and the constitution in the country. He said that the high judiciary should stop the open violation of the constitution. He went on to say that 26 days have passed since the dissolution of the Punjab Assembly while 22 days have passed since the dissolution of KPK Assembly but no dates were given for the elections. Farrukh Habib said that the constitutional period of holding elections in 90 days was fast approach but the government was in constant denial of providing resources and security to the commission to hold polls. He said that it was the constitutional responsibility of all the state institutions to provide all support to the ECP to hold free, fair and transparent elections.
StAff REpORt
In view of the rise in the incidents of terrorism in the province, following the change of chief secretary, the federal government on Thursday replaced Moazzam Jah Ansari and appointed Akhtar Hayat Gandapur –Grade 21 officer – as the new Khyber Pakhtunkhwa Inspector General of Police (IGP). The interior ministry has also issued a notification in this regard. The new IGP has been transferred under Civil Service Act 1973. Prior to that, Akhtar Hayat was posted in the Federal Investigation Agency (FIA).
Abbasi wields a considerable influence not only in Hazara, but throughout the province and the centre, having previously served as chief minister, governor, and federal minister.
He expressed confidence that Nawaz Sharif would soon return to the country to guide it towards development and emphasized the need for a warm welcome for Nawaz, in keeping with the
hospitality culture of Khyber Pakhtunkhwa and Hazara.
He also criticized the ministers for failing to focus on the well-being of the country and its citizens.
He emphasized that the country was on the brink of an economic collapse and that political parties were engaging in a blame game rather than finding solutions.
He called for sincere and dedicated workers to come forward
and find an out-of-the-box solution, suggesting that elections could end the crisis.
Abbasi also spoke about the need for PML-N to change its provincial leadership in order to succeed and for the International
Monetary Fund (IMF) to investigate the use of loans in the country over the past 30 years.
He acknowledged the role of past rulers, politicians, the establishment, the judiciary, and the bureaucracy in the current crisis.
ISLAMABAD Staff RepoRt
Prime Minister Shehbaz Sharif has constituted a threemember committee to organize relief operations for earthquake victims of Turkiye and Syria.
He made the decision while chairing a meeting in Islamabad on Thursday to review the ongoing relief activities for the brotherly countries. Minister for
Planning and Development Ahsan Iqbal will head the committee which will ensure the delivery of relief goods to Turkiye and Syria on a priority basis.
The Prime Minister directed the National Disaster Management Authority to increase coordination with all provincial governments to speed up relief activities and set up emergency collection centers in every district of the country for collection of fund for the earthquake victims of Turkiye and Syria. He said Turkiye helped
ISLAMABAD
Staff RepoRt
Director General of International Atomic Energy Agency (IAEA) Rafael Mariano Grossi visit to Pakistan from February 16, will provide an opportunity to Pakistan and the agency to explore avenues to advance cooperation in peaceful applications of nuclear technology for socioeconomic development. Foreign Office Spokesperson Mumtaz Zahra Baloch informed while speaking at a weekly news briefing in Islamabad on Thursday.
The FO spokesperson said the IAEA Chief will hold high level meetings including with the Foreign Secretary and undertake visits to different institutions employing nuclear technology in the fields of health, agriculture, industry and power generation.
Ms Baloch stated that IAEA Chief visit will provide an opportunity to Pakistan and the IAEA to explore avenues to advance cooperation in peaceful applications of nuclear technology for socioeconomic development.
Responding a question, she stated that Secretary General Asian Cooperation Dialogue Dr Pornchai Danvivathana is in Pakistan and is having meetings with senior officials.
She said during these meetings Pakistan has reaffirmed its desire for multilateralism and forging mutually beneficial relationship with all member states of Asian Cooperation Dialogue.
About the ongoing situation in Indian Illegally Occupied Jammu and Kashmir, the spokesperson said India is carrying out an eviction drive in the occupied territory to dispossess the Kashmiris of their land.She said no such practice can subdue the Kashmiri people and Pakistan will continue to support them in their just struggle for right to self-determination. In the recent years, in some states of India, bulldozers have been used to demolish properties of Muslims to terrorize them. Regrettably, that model is now being replicated in IIOJK.
It is unfortunate that Indian authorities are using land as a weopon to intimidate the people of IIOJK, she added.
RAWALpINDI Staff RepoRt
Inter-Services Public Relations (ISPR) Director General (DG) Major General Ahmed Sharif said on Thursday there was “baseless speculation on social media” that Chief of Army Staff (COAS) General Asim Munir was visiting the United States.
In a statement on Twitter, the military’s spokesperson said that the army chief was on an official visit to the United Kingdom from Feb 5 to Feb 10 in connection with the fifth Pakistan-UK Stabilisation
Conference. He added that the conference was a “biannual event for military to military cooperation between the two countries”. “Senior Pakistan military leadership has been participating in the event since 2016,” the ISPR DG said. COAS Munir arrived in the UK on Sunday. At the time, Dawn reported that he would attend meetings on defence-related issues, being held between February 5 and 9. It was also reported that Gen Munir was in London to attend a conference at Wilton Park, an executive agency created by the UK Foreign Commonwealth and Development Office to foster open dialogue between governments.
ISLAMABAD
Staff RepoRt
Federal Minister for Planning Development and Special Initiates Ahsan Iqbal on Thursday said that China and Pakistan are strongly committed to reviving the China-Pakistan Economic Corridor (CPEC) in letters and spirit.
He said this while chairing a highlevel meeting to review the progress of the ongoing CPEC projects, said a press release issued here.
Project Director CPEC Dr Nadeem Javed, representatives from the Ministry of Foreign Affairs, line ministries, Board of Investment, Embassy of Pakistan in Beijing, National Highway Authority, provincial governments of Sindh and Punjab, LESCO, CPPAG, and
KPEZDMC, Peshawar attended the meeting.The Embassy of Pakistan in Beijing briefed the participants on the status of ML-1 and KCR projects. It was decided that the concerned authorities and departments from China and Pakistan would actively pursue their part furnishing all needful to ensure there is no further delay to cause a slowdown.
The meeting was also briefed about the current status of Allama Iqbal Industrial City, Rashakai, Bostan, and Dhabeji SEZs and Gwadar Port Authority, and Gwadar Free Zone.
Meanwhile, the representatives of the Balochistan government apprised the participants of the water supply schemes, precision training complex, and situation of electricity supply, Gwadar University, maintenance, dredging, and 3000 solar
system installation in Gwadar. Ahsan Iqbal said that the cooperation would be further expanded to more sectors.
The minister maintained that Gwadar and its inhabitants have been the top priority among the entire portfolio of the CPEC and even today the government is committed to salvaging the problems this city and its citizen are facing.
He instructed the concerned authorities to make sure no further delays are witnessed in completing the water supply schemes and the projects related to energy and education.
He believed that Gwadar had the potential to emerge as one of the world’s top port cities duly equipped with state-ofthe-art infrastructure, a modernized and technologically advanced port with
enhanced capacity, and all necessary ingredients of socio-economic well-being.
To avoid the overlapping of courses and skills offered at three vocational training institutes in Gwadar, Ahsan Iqbal directed the concerned stakeholders to chalk out a comprehensive plan, clearly defining the roles and skills offered at these institutes and eventually linking them to the Gwadar authority. To ensure this nonoverlapping of offered skills, an integrated plan was directed by the minister for enhanced productivity.
Ahsan Iqbal also directed the concerned departments to convene meetings of the Joint Working Groups on Energy and Infrastructure so that the work on projects related to these domains could be expedited.
Pakistan during the floods of 2010 and 2022 and today despite limited resources, Pakistan will spare no effort to help its Turkish brethren. The Prime Minister said fund raising should be done in schools, colleges and universities to help the earthquake victims of Turkiye and Syria. The meeting was briefed that an air corridor has been established to send aid supplies to Turkiye and Syria and teams of Pakistan Army, Air force, PIA and NDMA are taking part in the relief activities.
LAHORE Staff RepoRt
A district and sessions court in Islamabad has rejected a request for post-arrest bail made by Awami Muslim League (AML) chairman Sheikh Rashid Ahmad in a string of sedition and defamation cases registered against him across the country. The former interior minister is also charged with accusing former president Asif Ali Zardari of plotting to assassinate Khan, and was arrested by Islamabad police on February 2. This case was filed by Rawalpindi president of Pakistan Peoples Party (PPP), Raja Inayat ur-Rehman, and includes charges of criminal conspiracy, promoting enmity between different groups, and statements conducing to public mischief. The court initially remanded Ahmad to police custody for two days, after which he was sent on a two-week judicial remand. His first post-arrest bail petition was also dismissed by the court on February 6. He is currently in the custody of Murree police, who were granted a one-day transit remand by a sessions court in Islamabad. The hearing on Thursday was presided over by Additional Sessions Judge Tahir Abbas Supra while Ahmad was represented by lawyers Sardar Abdul Raziq and Intizar Panjhota. Following the rejection of the bail plea, his legal team has decided to challenge the verdict in the Islamabad High Court (IHC) and will file another bail application once they receive the detailed order. Ahmad’s lawyers argued that the FIR registered in the case was a result of a planned conspiracy and that the sections mentioned in the complaint could only be filed by the federal or provincial government, not by a private citizen.
StAff REpORt
The Executive Director of the Commission on Science and Technology for Sustainable Development in the South (COMSATS), Ambassador Dr. Nafees Zakaria, visited the Embassy of Türkiye in Islamabad to sign the condolence book in the wake of massive earthquake that hit the country on 6th February 2023. Dr. Zakaria expressed deep sorrow with the Ambassador of the Republic of Türkiye, H.E. Mr. Mehmet Pacaci, on the devastating natural calamity that befell Türkiye. The Executive Director said that the COMSATS Community firmly stood with the brotherly people of Turkiye in this hour of trial. Ambassador Pacaci thanked Dr. Zakaria and apprised him on the situation in the aftermath of the earthquake that took a huge toll on the precious lives of tens of thousands across 10 provinces and colossal damage to the infrastructure. He said that the Government had declared national emergency. Dr. Zakaria assured the Ambassador that necessary efforts will be made by the COMSATS to provide relief to the affected people and assist the government in coping with the challenge. Turkish Ambassador appreciated Dr. Zakaria’s sentiments.
excuses’ not help govt escape from elections:
LAHORE STAFF REPORT
THE caretaker cabinet of Punjab on Thursday decided to include flour in the schedule of the Punjab Prevention of Speculation for Essential Commodity Act, 2021 to make it part of the essential commodities and approved one billion rupees for assistance of the heirs of the police martyrs.
It was 4th meeting of the interim cabinet held with caretaker Chief Minister Punjab Mohsin Naqvi in the chair at CM’s House on Thursday.
It decided to include flour in the schedule of the Punjab Prevention of Speculation for Essential Commodity Act, 2021 to make it a part of the essential commodities.
During the meeting, the CM sought recommendations to formulate a foolproof method of targeted flour subsidy and ordered constitution of a committee in this regard. The cabinet also approved wheat procurement from PASSCO [Pakistan Agricultural
Storage & Services Corporation Limited]
besides the CM ordered deployment efficient officers for the wheat procurement drive.
The cabinet also approved rules and regulations for corporate farming under the China-Pakistan Economic Corridor (CPEC) project, 127,000 acres of land would be made available for farming in five selected districts of Punjab. Corporate farming will help in agricultural research, food security, and forest and livestock research. Land can be given for a maximum of 30 years for corporate farming and those who get land for corporate farming will not get ownership rights.
The cabinet approved reconstituted board of governors of the Pakistan Kidney and Liver Transplant Institute under Dr Saeed Akhtar while the CM asked the ministers to conduct visits to resolve the artificial shortage and hoarding of petroleum products.
It was decided that recruitment should be made through Punjab Public Service Commission to ensure merit in the food depart-
ment and further decided to constitute a new search committee for the appointment of vice-chancellors of government universities.
Extension of the contract period of staff of the Provincial Quality Control Board in Punjab and de-notification of political appointments in departments and autonomous bodies affiliated with the P&D Board was approved as well. Approval was given to restore the expired funds for the payment of honorarium to the Afternoon School Program staff for the academic year 2020-21. The meeting also reviewed the postponement of the recruitment process in new administrative units in Punjab.
Meanwhile, the maiden paperless meeting of the caretaker cabinet was held through the cabinet management information system in which the agenda was presented through the tablet. The agenda of the next cabinet meeting will be circulated online through CMIS which would save Rs1.5 million incurred on every meeting.
The caretaker ministers, the chief secretary, IGP and others attended the meeting.
The ongoing so-called anti-encroachment drive by the administration in Indian illegally occupied Jammu and Kashmir has snowballed into a major controversy, with opposition parties saying that the Modi-led Indian government is targeting the poor, and political opponents, making people homeless and snatching their livelihood, a Delhibased media channel reported.
The massive bulldozer action across the occupied territory has triggered protests at several places, as the administration declared land cultivated and inhabited by people for generations as illegal encroachment. Even some arrests have been made by the authorities in Jammu in connection with protests against the authorities’ drive. Bulldozers are being used to demolish structures and
homes across the occupied territory particularly in the Kashmir Valley and Muslim-majority areas of Jammu region. The opposition says bulldozers are being used on communal lines, NDTV reported.
ISLAMABAD STAFF REPORT
Twenty new projects are on the way of completion in 2023 and onward years as per their scheduled timeframes, according to a report published by Gwadar Pro on Thursday.
These projects entail desalination potable water plant, Gwadar Free Zone North (Phase 11), Gwadar Safe City Project, New Gwadar International Airport, three electricity projects, Gwadar Smart Port City Master Plan, Gwadar Tourism Project, New management model of Pak-China Technical and Vocational Institute (PCT & VI), State of Art Shipyard
Project, Oil Refinery project, Green Gwadar Project, Pak-China Friendship Hospital, fisher community projects, Gwadar Port dredging project, Export-oriented projects, Fishing industry, Warehouse industry, and Gwadar Huafa Exhibition and Trading Center.
According to the report, over the last 10 years since CPEC set its foot in 2013, Gwadar outlook is changing gradually and constructively, getting over daunting challenges including poverty, civic issues, water, electricity, employment, infrastructure, agriculture and on top of them blue economy. In the past Gwadar was in shamble and disarray. Later in the course of 10 years, Gwadar has been making headway toward progress in a sustainable manner.
DI KHAN: To build capacity of its withholding agents, promote tax culture in the province, and increase tax compliance the Khyber Pakhtunkhwa Revenue Authority (KPRA) held a workshop for the officials of government departments and representatives of private entities of Dera Ismail Khan and Tank. Khyber Pakhtunkhwa Revenue Mobilization (KPRM) assisted the KPRM in conducting the workshop. STAFF REPORT
KARACHI STAFF REPORT
The drive, which started in January, was supposedly meant to retrieve land allegedly encroached upon by many, including politicians and senior state officials, NDTV said, adding when the order set off an outcry, IIOJK Lieutenant Governor Manoj Sinha and officials of his administration said only the encroachments by the “high and mighty” will be targeted in the drive, but a mass eviction drive is being carried across the territory. According to an order issued by the revenue department last month, all district collectors have been directed to retrieve state land, leased land, common use land, and also grazing land. Since then, a massive anti-encroachment drive is underway, thousands of acres of land has been snatched from locals, and numerous constructions demolished. The drive has left thousands of families vulnerable, facing prospects of homelessness and livelihood challenges, the NDTV report concluded.
The Sindh government has fixed the support price of wheat at Rs100 per kilogram and the provincial food department has issued a notification in this regard. Earlier, presiding over Sindh Assembly session, Chief Minister Murad Ali Shah briefed ministers about climate resilient agriculture and the water management project.“The crop cultivation methods will be changed in view of the climate change,” CM Murad Ali Shah said. “The objective will be to enhance per acre yield of crops and water conservation,” the chief minister further said. The cabinet approved 116 million rupees for the project. Speaking at the meeting, Provincial minister Manzoor Wassan said that the project has been aimed at introducing changes in agriculture keeping in view the climate change.
muZaffarabad
Staff RepoRt
aRALLYto pay tribute to martyrs Muhammad Afzal Guru and Muhammad Maqbool Butt for their sacrifice for Kashmir freedom movement was taken out here on Thursday under the aegis of Pasban-e-Hurriyat Jammu and Kashmir on the eve of their martyrdom day . Muhammad Maqbool Butt was executed on February 11, 1984 and Muhammad Afzal Guru on February 9, 2013 in Delhi’s Tihar Jail and were buried inside the prison.
A large number of people gathered at Shaheed Afzal Guru Chowk carrying banners on which the photos of the two martyrs were displayed and tributary phrases were written.People marched on Chakouthi road while chanting pro Freedom and Anti-Indian slogans.
Speakers on the occasion said that Maqbool Bhatt and Afzal Guru embraced martyrdom but did not bow before India’s worst tortures.
They stated that the two fearless leaders of Kashmir fought for a safe and independent political future of the state. Speakers said that these sons of Kashmir accepted the noose of executions but did not recognize the forced
sovereignty of India and its illegal military occupation.
“India should know that people will never give up their rightful demand for independence and referendum”, they reiterated.
They also paid tribute to other martyrs of Kashmir freedom movement including Syed Ali Gillani, Muhammad Ashraf Khan Sehrai, Mirwaiz Maulvi Muhammad Farooq, Khawaja Abdul Ghani Lone, Burhan Wani and others.
Chairman Pasban-e-Hurriyat Uzair Ahmad Ghazali, Mushtaq-ul-Islam, Usman Ali Hashim, Muhammad Ishaq Shaheen, Muhammad Fayyaz, Faisal Farooq, Alif
Continued from baCk page
They added that the leasing of Roosevelt Hotel New York site will be used for setting up a joint venture project for prospective mixed-use development.
Sources said that the Aviation Division has demanded from the Privatization Commission to take a decision regarding the PIA owned asset Roosevelt Hotel New York as early as possible. They said that Earlier, the National Accountability Bureau (NAB) had launched an inquiry against the sale of Roosevelt hotel on cheap rates in 2020.
It is also learnt from sources that the Ministry of Privatization had earlier briefed the Cabinet Committee on Privatization (CCoP) on 26th December, 2022 about the privatization of PIA Investment Limited (PIA-IL) owned asset- Roosevelt Hotel, New York. And, CCoP had directed the Aviation Division on 31st October, 2018 to make a detailed presentation on the possibility of high-rise hotels on the land of Roosevelt Hotel New York on Public Private Partnership (PPP) basis. And, in this regard, M/s Deloitte Transactions and Business Analytics LLP was engaged to conduct a feasibility
study. M/s Deloitte, after analyzing multiple options, recommended that the highest and best use of Roosevelt Hotel property was to redevelop the site into a mixed use of primarily office tower over retail and condominium, (if necessary) in its report on 18th July 2019. Accordingly, CCoP in its meeting held on 2nd July 2020, inter-alia, directed the Privatization Commission (PC) to initiate the process of appointment of Financial Advisor (FA), to undertake envisage & leasing of Roosevelt site for meeting up a joint venture project for prospective mixed-use development, through the best suited mode of privatization, as delineated in the PC Ordinance, 2000. In compliance to the federal cabinet’s decision, the process of hiring of FA was initiated, pursuant to the Privatization Commission (hiring of financial advisor) Regulations, 2018 and PC Board approved the draft of ToRs for hiring of Financial Advisor, in its meeting held on 2nd September 2020,decision of the PC Board and approved Terms of Reference (ToR). However, the matter was put on hold on the advice of the Office of the Attorney General for Pakistan (AGP), owing to the litigation in British Virgin Island (BVI) court in the context of Reko Diq and
Continued from baCk page
This hearing was chaired by NEPRA Chairman Tauseef H. Qureshi while NEPRA members, Engineer Rafique Ahmed Shaikh, and Engineer Maqsood Anwar were in attendance.
According to KE, December’s FCA request was lower primarily due to a reduction in prices of RLNG, furnace oil, and power purchased from CPPA-G by 17%, 15%, and 30% respectively as compared to September 2022, along with a better utilisation of generation mix. It is pertinent to mention that the FCA is reviewed every month as per the tariff regime applicable across the country and is applies to the consumer’s bills for one month only. FCAs are linked with changes in global fuel prices and passed onto consumer bills under the prescribed rules and regulations of NEPRA and the government of Pakistan.
Continued from baCk page
Sources said that the Federal Cabinet on Tuesday directed the Finance division to re-advertise the post due to a non-transparent process; it has also emerged that MoF’ recommended candidate had already close link with high officials of the finance ministry.
In addition, Sources also said that the acting President is also doing a job beyond its mandate as the National Bank is continuously advertising jobs for various positions and if the Board of Director did not approve new hiring then these jobs consider illegal, sources added. It is worth mentioning here that the BoD of NBP just completed as government has appointed former Governor SBP as chairman of Board.
Sources also said that the Acting President has become controversial owing to his non merit appointments at various Groups of banks. Many merit oriented senior executives sitting on side lined posts as they do not go against the law, sources added.
Sources also said that the Logistic department of NBP is allegedly accommodating officials sitting at helm of affairs due to which the acting President stay is prolonging. It is pertinent to note that the Auditor General of Pakistan has pointed out a number of irregularities about the Logistic department in its interim report.
Tethyan Copper Co. (TCC). Nonetheless, most recently Aviation Division, on 14th May 2022 had forwarded the advice of the AGP that the Government of Pakistan and Balochistan & TCC had now entered into a standstill agreement, whereby, all litigation had been suspended including enforcement proceedings in the BVI court against asset owned by PIA-Investment Limited (IL) till 15th December 2022. AGP further advised that in light of this agreement, PC can proceed to initiate the process of appointment of FA. A meeting was held in this regard with the Head International Disputes Unit, Office of the AGP on 13 June 2022. The Aviation Division also expressed the concerns relating to any delay may lead to land marking of the property. It was further added that the PIA Board had also endorsed the proposal of the Privatization Commission.
Ministry of Privatization submitted the case before the CCoP for re-affirmation of its earlier decision dated 2nd July 2022 regarding appointment of FA for Roosevelt site for setting up a joint venture project for prospective mixed use development , through the best suited mode as delineated in PC Ordinance, 2000 or advise otherwise as
deemed appropriate owing to the fact that above approval were singularly focused on the recommendations of the M/s Deloitte report. The CCoP discussed the matter threadbare and observed that in the light of the advice of Attorney General of Pakistan, Privatization Commission can proceed further to initiate the process of appointment of the FA for the purpose.
Therefore, the CCoP reiterated its earlier decision on the matter under Case No. CCoP-5/4/2020 dated 2nd July 2020.
The CCoP on 26th December 2022 had considered the summary dated June 23rd 2022 submitted by the Ministry of Privatization regarding “Privatization of PIA Investment Limited (PIA-IL) Owned Asset-Roosevelt Hotel, New York” and reiterated its earlier decision under the Case No. CCoP-5/4/2020 dated 2nd July 2020 that “ the Privatization Commission to initiate the process of appointment of FA to undertake the envisaged leasing of Roosevelt site for setting up a joint venture project for prospective mixed use development, through the best suited mode as delineated in PC Ordinance , 2000” and submit progress report thereon within three months, to the CCoP for consideration.
raWaLpindi Staff RepoRt
The Counter-Terrorism Department (CTD) on Thursday claimed to have foiled a terror bid designed to target Rawalpindi Police Lines and other sensitive locations and arrested two terrorists associated with outlawed Tehreek-i-Taliban Pakistan (TTP).
The CTD also seized arms, explosives and sensitive documents from their possession. According to the CTD, the Counter-Terrorism Department (CTD) and other law enforcement agencies carried out an intelligence-based and caught two terrorists identified as Hayat Ullah and Waqeek Khan belonging to Haji Faqeer Group of TTP.
Modern weapons, explosives, satellite phones and sensitive documents were recovered from possession of the nabbed terrorists. During preliminary investigation, the terrorists revealed that district courts, Saint Paul church, Police Lines Islamabad and Saddr Police Station were on target of the terrorists. They also sent the recce detailed picture to their commander in Afghanistan.
VeHari
Staff RepoRt
Lawyers thrashed Sheraz Ali, the prime accused of physical assault of a bus hostess after extension of his remand by a civil court here on Thursday. As soon as he exited from the court after extension of his remand, the lawyers started beating him. Besides arresting the prime accused guard (Sheraz), the Denawal Police also held driver Asif for helping the accused in the physical assault on the hostess a few days back at the General Bus Stand Vehari. The police requested for 10 days more remand of the accused for arresting the head hostess, Aliya, of the bus company while the court granted only two days further remand. The accused had reportedly teased the victim, who lodged a complaint in that regard to the head hostess. However, the latter again deputed the victim on duty with the same guard, who assaulted her in the bus.The victim also appeared before the court and expressed her dissatisfaction over the police investigation.
Din Dar, Khawaja Muhammad Pervaiz, Syed Mahmood and others were also present on the occasion.
Indian judiciary executed Muhammad Maqbool Bhatt on February 11, 1984 and Muhammad Afzal Gaur on February 9, 2013 in Delhi’s Tihar Jail.
The bodies of both the martyrs were buried in the prison and were not handed over to their heirs.
Continued from page 01
The $7 billion bailout package from the IMF that hangs in the balance has been a source of great anxiety for the entire nation. Due to low defaults, banks have not been extending lines of credit even for vital imports leading to large lines at petrol stations in the Punjab region where petrol pumps have been hoarding the commodity. At the same time, power breakdowns, gas load shedding, and a sharp increase in the price of essential medicines have all been seen as early signs of what might happen if the IMF program is not put back on track.
Continued from page 01
State Minister for Finance Dr. Ayesha Ghos Pasha on Thursday also said that Negotiations with the IMF are in the final stages. There is yet another round of talks with the IMF as the IMF wants some more clarification. She also said that details regarding the agreement will be shared tonight. It is worth mentioning here that previous government PTI has signed a $6 billion IMF agreement and the ninth review was pending since last September as the current government failed to live up to their promises with the lender and introduced a host of fiscal measures in contravention to the conditions agreed.
The Haji Faqeer group operates in Afghanistan. FIR has been registered against the terrorists and further investigation is underway.
Earlier yesterday, the CTD killed the alleged mastermind of the Rawalpindi car blast during the Khanewal raid. The CTD conducted a raid in Khanewal and killed a commander of a banned outfit namely Irfanullah after a gunfight. The killed terrorist was the ‘mastermind’ of the Rawalpindi car blast. During the gunfight, three other terrorists managed to escape from the scene, according to the CTD spokesperson. In a statement, the CTD spokesman stated that the terrorists were planning to target sensitive areas and other prominent personalities.
The authorities recovered a suicide jacket, grenade and weapons from the possession of the killed terrorist. Earlier this month, the CTD arrested nine terrorists belonging to a banned outfit in different areas of Punjab. The CTD Punjab carried out Intelligence Based Operations (IBOs) in Lahore, DG Khan, Gujranwala and Bahawalpur and arrested five terror suspects. The arrested terrorist had already planned to carry out an attack in sensitive districts.
HiEf Justice of Pakistan Mr Justice Umar Ata Bandial has remarked that people’s problems can only be solved by the people’s decision, which would be music to the ears of Pakistan Tehrik insaf supporters, who have been demanding fresh elections ever since imran Khan, who headed its government, was ousted as PM last April. chief Justice Bandial made these remarks while heading a three-member bench hearing Mr Khan’s case against the nAB law amendments passed by Parliament. chief Justice Bandial said that the ‘current Parliament has been left unfinished. As a result, there is growing controversy surrounding the laws being debated in the present parliament.” Though this is not a final judgement, it might well indicate the direction in which chief Justice Bandial is leaning. However, it also does seem to cross the line between the legislature and the executive, with the judiciary not interfering in the actions of the legislature. chief Justice Bandial does not seem to be taking account of why the Parliament could be looked on as incomplete. Those are resignations by the PTi to protest the ouster of its government. Those resignations were in the process of being accepted and by-elections held to ensure that those constituencies where members resigned, got representation in the national Assembly. The judiciary, in the shape of the Lahore High court, restored members who had resigned, but for whose constituencies by-elections had not been announced.
The judiciary has hardly covered itself in glory, ever since Maulvi Tamizuddin’s case. it sided with the military over the decades, upholding all the martial laws it imposed from Dosso’s case legitimizing Ayub to Zafar Ali Shah’s case legitimizing Musharraf. More recently, the Supreme court under chief Justices Asif Saeed Khosa and Saqib nisar made judgements which weakened Parliament, as it did under chief Justice Bandial himself, when it more or less reinterpreted the constitution and unseated the MPAs who had voted against the PTi.
chief Justice Bandial should stick to the touchstone of the constitution when interpreting the law, and should keep in mind that while political parties are swayed by the emotions of the moment in how they react to judicial decisions, those decisions last forever, and may be quoted centuries later. cleverness might be desirable in a lawyer when arguing for a client, but a judge must stick to what the law says. He has a heavy responsibility, which he should fulfill carefully.
What is the political price of the IMF package?
stitution and increased exports, thus leading to more foreign exchange being available to repay the loans.
If the iMf mission to Pakistan is successful in releasing the next tranche of the current iMf programme, it will afford relief to the government, but that relief is likely to be temporary. it should not be forgotten that the last tranche was accompanied by much the same atmospherics: the government anxious, the iMf demanding, but it seems that this time was worse.
The problem is that by the time of the review for the next tranche, the election will be that much closer, and thus the government will be even more reluctant to give the iMf what it wants. There are two assumptions That have to be made. first, the government wants to avoid the sort of measures that cause the public hardship. Second, the iMf is not a monster that gets some sadistic pleasure from the suffering of the poor. That said, it needs to be seen why the end-result is the sort of punitive measures that are about to come.
The government has an odd attitude towards loans. When the USA founded the World Bank and other Bretton Woods institutions like the AdB and the iMf, they were not purely economic institutions, but also tools of political and neocolonialist control. The loans they made were not to be repaid. The local elites, which had been put in place just before independence, embezzled them with gusto. initially, project loans were made, which were supposed to be repaid out of the increased revenue that was supposed to accrue. it didn’t, and Third-World countries got into trouble paying back the loans.
This is where the debt traps began. The next step was programme loans, which are not meant for any development, but merely to avoid a default. These are loans, and must be repaid out of revenues that are not even supposed to increase. The development aid consisted of projects that might or might not raise revenues. A dam may irrigate new lands, and the land revenue or income tax should help pay off those loans. However, what happens if the loan is embezzled? or if the landowners can stop income tax being levied? it then becomes overpoweringly important to be in a position to be on the chain of those who will take a share from that embezzlement, and to be one of those making the tax laws. There is an overwhelming need to join that elite, and to remain in it. The real reason why the old colonial elite goes into politics is not so much to make money, but to protect that which has already been made.
on the flipside, the iMf is not so much concerned with development, or how the average citizen actually fares, as whether its loans will be repaid or not.its assumption has to be that repayment must come from revenues that are not enhanced, as opposed to development loans, which at least on paper assume that they will be repaid from enhanced revenues. development spending assumes both import sub-
Another reason why the iMf has been harder on Pakistan is that it has free rein. There are no pressing political reasons why it should show Pakistan any leniency. its negotiators were also fully aware of exactly what kind of problems the country is facing. There is thus no reason why it should show Pakistan any mercy.
The only way of escaping from the debt trap is to increase exports. As recent events (the covid-19 pandemic followed by the ongoing bout of inflation in the West and the russian invasion of Ukraine) have shown, the power of increasing exports depends on the West’s readiness to buy. indeed, even commodity producers, especially oil-exporting countries, face this problem.
The problem thus is that there seems no way Pakistan can escape the debt trap, unless it is willing to accept the consequences of a default. Pakistan would probably find that unacceptable, because three categories of its imports are of essentials: petroleum, edible oil and lifesaving medicines. The recent crisis in the poultry industry because of the import of gMo soybeans for feed shows that many apparently indigenous industries are actually dependent on imports. There thus seems no way out for Pakistan so long as it remains part of the current economic system. it is tied to the system because it has to trade, and it does not have sufficient weight within the system to dictate its terms.
heavily tilted against Pakistan. There are no political reasons as easy as Afghanistan to allow Pakistan to go on as before. Matters have become more difficult now that the USA has cozied up to india, and Pakistan is being seen by the USA with suspicion as an ally of china against its new-found friend.
The solution does not lie in military rule. it might have seemed a simple equation to military minds, but it was not. Ayub Khan managed to remain in power and carry out development, on the basis of joining SEATo and cEnTo, and even sacrificed the rights to the water of three of Punjab’s five rivers through the indus Basin Waters Treaty. However, it failed to get US support in the 1965 War.
Perhaps the worst problem Pakistan suffers is that it has been there before, and once it gets out of the present quagmire, is likelier than not to go there again. The measures being foisted upon Pakistan are very harsh, but they do not contain within them the seeds of an escape from the debt trap
All that Pakistan can offer now is to give up its nuclear programme. However, the cost of doing so would be prohibitive, not just for the government, but for the military leadership. it might well mean making overt what has been suggested has been done covertly already: accepting indian hegemony. Besides, the iMf has made cuts in the conventional forces’ budget a condition. obviously, this would be music to indian ears. it should cause Pakistan to tremble, to see how china and india have been tied up before. After the 1962 indochina War, the USA made a major push against china and for india. Pakistan was thrown to the wolves. in the Yahya years, the USA used Pakistan for its rapprochement with china, but in 1971 let india beat Pakistan, and allowed Bangladesh to come into existence.
for example, the USA is able to sustain a chronic trade imbalance because sellers are willing to accept dollars. As the USA merely has to print more dollars, it can import as much as it wants without having to sell. Pakistan (and all other Third-World countries) has to earn dollars by exporting to pay for its imports, because no one is willing to accept the only currency it can print, the rupee.
Without breaking the mould, it seems, Pakistan cannot gain the independence it needs. By that standard, the PTi and imran Khan do not go far enough. if imran wants people to seek true freedom, he should give some indication that it is really economic dependence that causes political dependence, and it is perhaps meaningless to talk of the latter without the former. imran is thus exposed as merely struggling for his own restoration to office.
His record in office shows that he has no problems with remaining part of the system, which is
This time, the USA is in economic conflict with china, and there are possibilities of military conflict over Taiwan or the South china Sea. Already, though not in conflict, they are supporting opposite sides in the russo-Ukraine conflict. china has been on the russian side throughout the modern era, dating back to the time when they were under the romanov and Qing Emperors, back in the 19th century. china’s main rival then was Japan, just as it is today. in this sea, Pakistan seems a little fish. its economic woes are not enough to give the rest of the world pause. They also do not seem enough to make its friends any incentive to spend large sums to bail it out.
Perhaps the worst problem Pakistan suffers is that it has been there before, and once it gets out of the present quagmire, is likelier than not to go there again. The measures being foisted upon Pakistan are very harsh, but they do not contain within them the seeds of an escape from the debt trap.
The writer is a member of staff
Badly hit this year, the province has not learnt any lessons
FAtIMA KAKArAccording to the global climate risk index for 2019 - 2000, Pakistan has consistently been ranked 8th among the top 10 most vulnerable countries. in other words, we have been brushing the matter of climate change under the rug for the past 20 years until it became evidently uncontrollable. According to the german Watch report, Pakistan has risen to fifth place in the world in terms of vulnerability to climate change as of 2022.
given that Pakistan has witnessed the intensified side effects of climate change in the form of floods, mainly observed in the region of Balochistan, which brought colossal damage in terms of infrastructure, food scarcity, and spread of diseases. it was an unprecedented disaster, which we all knew about in advance according to several major reports published by notable organizations, but for which we were unprepared due to several factors, mainly the pandemic and political instability in the country.
However, recently, the country has been observed taking several steps to counter climate change. recently, the Ministry of climate change published the national Hazardous Waste Management Policy for 2022.Under this policy, each province was expected to complete the national Action Plan for developing the implementation framework within three months. which Balochistan has failed to submit as of yet.
Balochistan, however, in the light of the above discussion, has been very gradual in processing and grasping the reality of climate change and its glaring effects on the province. As of yet, there are no signs of development in the Balochistan government regarding the
national Action Plan for Hazardous Waste Management Policy 2022. Since, this policy is a very basic and fundamental step towards countering climate change effects in our region, it has to be undertaken immediately. Without taking this step, other relevant matters in dire need of attention can barely be sorted out. Subsequently, it is observed that the provincial government has been adopting a very neglectful approach towards the climate crisis, as there are no policies formulated and initiated by the provincial government.
Above all, the province as a whole, including the civic population, has failed to take the very first basic step of acknowledging the aggressive change in climate and has also failed to realize its reasons, particularly with respect to the way the province functions, let alone cater to all other highly relevant issues associated with the climate crisis. Although it is a known fact that the country has the lowest carbon footprint, the country nonetheless must accept its vulnerability, specifically in Balochistan and address the current crisis without further delay.
one of the minor examples of such neglect is the fact that the leading causes of climate crisis, along with other forgotten factors, are found in Balochistan and include excessive and unnecessary consumption of polythene at a dangerous rate, while our government seems to be ignorant of its dangerous implications for the environment, which have immediate relevance in all spheres of life, most prominently health. Plastic not only contributes to carbon emissions through its manufacturing but also has adverse effects on the environment, affecting the population, and entering our food chain. Plastic takes 1000 years to degrade.
The public seems to be unknowledgeable on this matter as well due to the prevailing illiteracy, and lack of awareness programmes, seminars, and conferences in educational institutions, regarding the subject. This is
why our society seems to overlook the signs of urgency to compose the storm of climate change ahead of us.
Balochistan desperately needs to prepare for the coming serious consequences and needs to act efficiently. Along with the acknowledgement, Balochistan also requires a policy shift in its regime, putting climate urgency at the top of the agenda this year, otherwise, we must realize that the recent floods were merely the tip an iceberg of the following disasters that are yet to arrive.
negligence on this matter is not affordable and will eventually bring colossal damage to the already flawed infrastructure, human capital, economy, and pose social challenges, which i believe we have enough already on our plates for the time being. Therefore, we cannot and must not hold such an irresponsible attitude.
The writer is a Research Assistant at the BTTN (Balochistan Think Tank Network).
Balochistan desperately needs to prepare for the coming serious consequences and needs to act efficiently. Along with the acknowledgement, Balochistan also requires a policy shift in its regime, putting climate urgency at the top of the agenda this year
Chief Justice’s remarks do not take into account judiciary’s performance
sure that buildings are constructed to current earthquake-resistant standards which can help reduce damage during an earthquake. in many cities in Pakistan including major cities like Karachi, Lahore, islamabad, Peshawar, and Quetta, the building codes are not strictly enforced. This can lead to significant damage and loss of life in the event of an earthquake.
it is important for the government of Pakistan and local authorities to take steps to improve building code enforcement and ensure that all buildings, including new construction and older buildings, are designed and constructed to withstand earthquakes. This can include providing education and training for builders and architects, strengthening inspection and enforcement processes, and retrofitting existing buildings to improve their seismic performance.
quakes and save lives. Karachi is not considered to be at significant risk for tsunamis as it is located on the coast of the Arabian Sea, which is not known for having strong earthquakes or tsunamis. However, it is still important to be prepared for any natural disaster, including tsunamis, as the risk cannot be eliminated. in the event of a large earthquake or another event that generates a tsunami, it is essential for residents of Karachi to be aware of the potential for a tsunami and to evacuate to higher ground if necessary. The government and local authorities can also take steps to prepare for tsunamis, such as developing early warning systems, conducting regular evacuation drills, and educating the public on what to do in the event of a tsunami.
AS a nation, we are known for our rather reckless experiments in critical domains. Even by our own standards, however, no sector has been subjected to as much experimentation, and as much recklessness as the higher education. The cumulative effect is that the domain, while lying as a bewildering welter of pre-colonial and colonial impulses, has lagged miles behind where it should have been in the 21st century. As if the confusion was not enough already, the Higher Education commission (HEc) introduced a new undergraduate policy. Anyone having the slightest working knowledge of global trends in higher education stands stunned at the wisdom, or rather the lack of it, of our policymakers.
The Undergraduate Education Policy 2020 introduced a scheme of studies to familiarise undergraduate students with a broad variety of fields of inquiry and approaches to knowledge. The minimum requirement for a prospective student to qualify for a BS degree has been set at 120 credit hours, out of which a student is required to opt for general courses of 39 credits. The courses that are compulsory regardless of the choice of specialised field are supposed to be completed by the end of the fourth semester. The first category is that of the breadth courses, encompassing the broad disciplines of arts, humanities, social sciences and natural sciences, out of which two courses each have to be studied. The foundational skills courses make up the second category, having three expository and two quantitative reasoning subjects. Two subjects each in Pakistan Studies and islamiat fall within the scope of civilisational courses.
notwithstanding the claims of all this having been done in the name of streamlining higher education, one may wonder how far the sector is with the trends and priorities of the modern era. A cursory look at the policy reveals that it hardly rests on the ideals of objectivity and rationality. it fails to take note of the practical constraints and institutional anomalies infecting our universities that are creaking under the burden of drastic cuts in grants. it is something that many believe to be precipitating the unprecedented current crisis in the universities that are already on a ventilator and might end up dead. Practically speaking, our public-sector universities are incredibly ill-equipped to implement the new scheme because of the unavailability of surplus faculty for teaching subjects like Philosophy, Logic, critical Thinking, Psychology, etc. They can hire them, right? no, actually, because there are financial limitations.
More often than not, students are faced with a Hobson’s choice between X and Y, or Y and X, which is no option at all when it comes to picking subjects from the pool of general courses. The policy is nothing but paperwork cloaked in the garb of a framework. Any attempt at introducing reforms in the higher education sector without factoring in elementary and secondary education is going to be nothing but total fiasco. The universities will fare better only when all sectors of the education system, including technical and vocational, get the attention they deserve.
FARRUKH AZIZ SUKKUR
TUrKEY has witnessed one of the most powerful earthquakes that hit the region. it is considered one of the biggest in this region during the last century, has killed thousands of people and devastated several cities. The 7.8 magnitude earthquake hit the region in the darkness of a cold winter morning followed by 7.7 earthquakes in the middle of the day on Monday. Aftershocks can continue for days, weeks, or even months after the main shock and can cause additional damage or cause existing damage to worsen.
Earthquakes can occur anywhere in the world and can range in magnitude from barely noticeable to catastrophic. The magnitude of an earthquake is a measure of the amount of energy released and is typically expressed on the richter scale. Earthquakes can cause damage to buildings and infrastructure, trigger landslides and tsunamis, and result in loss of life. despite the scientific understanding of earthquakes and the development of various monitoring and warning systems, still, earthquakes remain largely unpredictable. Scientists can identify areas that are at higher risk of earthquakes based on geological and historical data, but they cannot predict exactly when an earthquake will occur or its exact magnitude. it is important for people in earthquake-prone regions to prepare for the possibility of an earthquake by learning about earthquake safety measures and having a disaster plan in place.
Pakistan is located in a seismically active region and is situated on several major fault lines, making it vulnerable to earthquakes. The country is located at the boundary of the indian and Eurasian tectonic plates, which are constantly moving and creating pressure. When the pressure builds up, it can cause earthquakes. Some of the major fault lines in Pakistan include the Himalayan frontal Thrust, the chaman fault, and the Balochistan Thrust. Earthquakes have caused significant damage and loss of life in Pakistan in the past, including the 2005 Kashmir earthquake, which had a magnitude of 7.6 and caused over 75,000 deaths.
it’s important for the government and citizens of Pakistan to take proactive measures to prepare for and mitigate the effects of earthquakes, including updating building codes and infrastructure, conducting regular drills, and having emergency response plans in place. The building control authority in Pakistan should en-
older buildings can be retrofitted to make them safer and reduce damage during an earthquake this can be done by adding concrete or steel to the foundation of the building to improve its ability to resist seismic forces, adding shear walls, bracing systems, or other reinforcing elements to the building’s walls to improve their ability to resist seismic forces, diaphragms, cross-bracing, or other reinforcing elements to the roof and floor systems to improve their ability to resist seismic forces, improving the connections between the walls, roof, and floor systems to ensure that they work together to resist seismic forces, adding seismic isolation systems, such as base isolation or sliding bearings, to the building’s foundation to reduce the transfer of seismic forces to the building structure.
These retrofitting techniques, especially in Karachi, can be used in combination to improve the seismic performance of older buildings and reduce damage during earthquakes. The specific retrofitting techniques that are used will depend on the type of building, its location, and the severity of the expected earthquakes.
Another important factor that is severely lacking in Pakistan is having an emergency plan in place and conducting regular earthquake drills can help individuals and communities respond quickly and effectively in the event of an earthquake, especially the residents of Karachi, as the city is one of the largest and most densely populated cities in Pakistan.
in the event of an earthquake, the lack of open spaces and designated evacuation areas can make it difficult for residents to safely evacuate. Emergency supplies, including food, water, first aid supplies, and a reliable source of information, can help individuals and communities respond to an earthquake. improving infrastructure, such as bridges, roads, and other transportation systems, can help ensure that emergency response and aid can reach affected areas more quickly and effectively.
Another factor is to educate the public about the risks associated with earthquakes and how to prepare can help reduce the impact of earth-
Another risk that could be a potential threat is a nuclear power plant explosion during an earthquake is a concern, as earthquakes can cause damage to nuclear power plants and potentially release radioactive materials into the environment. However, Pakistani power plants are designed and constructed to withstand earthquakes and other natural disasters. in addition, nuclear power plants are subject to strict regulations and safety standards and are regularly inspected and tested to ensure that they are operating safely and securely. This helps to minimize the risk of a nuclear accident during an earthquake. but we can’t neglect the magnitude of the potential risk of anaccident that could be dangerous to life in adjacent areas. Karachi is not considered to be at significant risk for tsunamis as it is located on the coast of the Arabian Sea, which is not known for having strong earthquakes or tsunamis. However, it is still important to be prepared for any natural disaster, including tsunamis, as the risk cannot be completely eliminated.
in the event of a large earthquake or another event that generates a tsunami, it is essential for residents of Karachi to be aware of the potential for a tsunami and to evacuate to higher ground if necessary. The government and local authorities can also take steps to prepare for tsunamis, such as developing early warning systems, conducting regular evacuation drills, and educating the public on what to do in the event of a tsunami.
Earthquakes are natural disasters that can have devastating effects on communities and the environment. it is important for individuals, communities, and governments to educate themselves about the dangers of earthquakes and to be prepared for these events in order to reduce the impact of earthquakes on people’s lives and the environment. The study of earthquakes and the development of earthquake-resistant technology will play a key role in mitigating the impact of earthquakes and helping communities to recover from these events.
The writer can be reached at twitter @FayyazSHussain
THErE is every reason to revamp and re-energise the national counter Terrorism Authority (nacta), giving it the lead role in our effort to control the genie of terrorism.
Unfortunately, we happen to be a short-sighted nation of even more short-sighted leaders. Since the end of the Afghan jihad in the late 1980s, we could not realise what could be the repercussions of getting involved in that conflict. Likewise, after 9/11, we could not sustain pressure from the United States and had to become its partners in its so-called ‘war on terror’ to fight against our own trained jihadis; this time labelling them as ‘terrorists’. This resulted in colossal damage to us in terms of lives, infrastructure and economy.
Unfortunately, we could not learn a lesson and the situation is the same after a lapse of almost half a century. There is no doubt that we are just about managing our day-to-day situation, but there is also no doubt that we are unable to strategise our response to the root cause of the problem.
Today, we are not able to differentiate between government policies and state priorities. The government policies are fluctuating from time to time owing to political expediencies. This happens at the expense of state priorities, and this is the root cause of all of our issues and miseries.
Also, the responsibility rests on the shoulders of all the state institutions concerned. We always use incorrect methods to relieve pain without realising that the disease is aggravating and becoming incurable. due to ineptness of institutions, we could not strategise and introduce rational measures to root out this menace. instead, we have wasted precious time, and are standing at the crossroad as was the case decades ago. The only way forward is to draw a line between state narrative and government priorities; state mantra must be followed without any hindrance by any institution irrespective of change in governments. nacta should be given the leading role with complete authority to reorganise all counter-terrorism depart- ments (cTds) across the country and other law enforcement agencies for better results against terrorism along with input from think tanks and support of provincial governments. Last but certainly not least, each and every pressure group and those who are involved in clear exploitation in the name of religion must be marginalised and targeted to promote the state narrative.
THiS refers to the Karachi Water and Sewerage Board (KWSB) which has decided to legalise eight water hydrants in the city. now that the KWSB has taken full responsibility for overseeing this business, it should also take responsibility for all the related costs to the national exchequer.
Each water tanker burns about six litres of diesel on an average round trip of 30km around the city. With each hydrant filling about 300 tankers, a total of 2,400 deliveries are made from all eight hydrants requiring 14,400 litres of diesel per day. With the average price of diesel being rs180 and the US dollar conversion rate being rs250, the water tanker business costs the country about $10,000 per day. KWSB should focus on fixing pipelines and pumping water rather than joining hands with the tanker mafia. The monthly savings worth $300,000 of precious foreign exchange in this time of need should be ample motivation to get the house in order.
It is important to educate the public about the risks associated with earthquakes and how to prepare can help reduce the impact of earthquakes and save lives
THe clue to the Indian government’s thinskinned response to the bbC’s two-part documentary, India: the Modi Question, is in the name. the documentary lays out the evidence for the argument that the anti-Muslim bigotry that characterises India today is rooted in Narendra Modi’s alleged decision to rein in the police in Gujarat in 2002, giving anti-Muslim rioters a free hand, leading to the killing of hundreds of people.
the first part explores the 2002 pogrom as the ideological foundation of Modi’s power and political persona. the second part surveys the actions of Modi’s government after his re-election in 2019, and tries to show how both formal policy and informal violence have been deployed by the state to reduce Muslims to secondclass citizens. It was the documentary’s unequivocal framing of India’s recent history as “Modi v India’s Muslims” that has infuriated Modi’s government.
Paradoxically, this is a characterisation that Modi and his allies have often embraced for domestic political advantage. Modi’s image as a Hindu strongman who had the nerve to put a malcontented minority in its place has helped him win two terms in office and remake the republic in his majoritarian image. Why then did the
THE INDIAN PRIME MINISTER’S ATTEMPTS TO SUPPRESS A CRITICAL BBC DOCUMENTARY SHOW HOW SENSITIVE HE IS TO HIS INTERNATIONAL REPUTATION
central government issue directions for blocking multiple Youtube videos and twitter posts sharing links to the documentary? Why did it play whack-a-mole online and resort to desperate measures such as seizing laptops on university campuses where students were planning to screen the film?
one reason for this reaction was that the film was produced by the bbC. Post-colonial states will grudgingly acknowledge the credibility of the bbC even as they accuse it of condescension or, in the words of the Indian government’s spokesperson, “a colonial mindset”. this credibility is based on the bbC’s institutional memory, its ability to reach into its archive and produce evidence for its narratives.
In the first part, for example, we were shown a bbC reporter, a young woman called Jill McGivering, reporting on the riots and interviewing Modi in the aftermath. the Modi on show here is not the groomed and costumed persona that Indians have become accustomed to since he became prime minister in 2014. this is a roughand-ready Modi, willing to be caught on camera laughing and taunting a young female reporter, and doing his best to intimidate her. McGivering reappears in the documentary, 20 years older, reflecting on Modi’s charisma and menace. this persona plays well with his base, but it isn’t how this famously image-conscious, multiplymade-over politician wants to be remembered.
even less welcome is the documentary footage of the anguish of Muslim men and women who have been
to steer the conversation at a dinner party. or, to use another analogy, think of working with ChatGPt as like training a dog.
Another way to hone ChatGPt’s capabilities is to ask it for responses in the voice of a third person. Ask, “What are the costs of inflation?” and you might get answers that aren’t wrong exactly, but neither are they impressive. Instead, try this, “What are the costs of inflation? Please answer using the ideas of Milton Friedman.”
attacked, bereaved or imprisoned. the men who defend Modi in this documentary emphasise time and again the courts and tribunals that have cleared him of criminal conspiracy. they speak of the need for closure, the importance of moving on. but the testimony of Zakia Jafri, Mariam Ansari, Kismatun, Safoora Zargar and many others, backed up by video clips of Muslims being subjected to horrific violence, bring back ghosts that makes “closure” impossible.
Individual stories of trauma and tragedy can be discredited by citing exculpatory verdicts won in court, but when these voices, ragged with pain, are brought together, as they have been here, they become a Greek chorus, a voiceover on an unfolding tragedy and Muslim suffering that becomes a spectre at the prime minister’s feast.
this year India hosts the G20 summit. Modi has used the moment, in this pre-election year, to announce India’s imminent leadership of the world. He has cast India (and by implication, himself) as a kind of universal mentor, a Vishwaguru. It’s not a claim that goes well with a recent past riven with bigotry. Modi has profited and continues to profit electorally from his reputation as an anti-Muslim strongman, but electoral dog-whistling is only for domestic consumption. He knows that a reputation for alleged ethnic cleansing puts India’s geopolitical standing at risk.
the Indian government trades on the fact that western countries will overlook a lot to ally with a democratic India as a counterweight to China. britain’s former for-
eign secretary, Jack Straw, says as much in the documentary, and that role’s current incumbent has bent over backwards to distance himself from its narrative. James Cleverly cited the bbC’s independence as a way of disclaiming responsibility, and emphasised his government’s commitment to investing in India in every possible way.
Soon after both parts of the documentary were released, the prime minister, Rishi Sunak, was asked in the House of Commons if he agreed with the diplomats cited in the documentary, and with the charge of ethnic cleansing. It is unreasonable to expect Sunak to comment on a controversial documentary involving a major country and a potential ally. He made the appropriate boilerplate response about it being settled policy that the uK government did not tolerate political persecution anywhere.
He didn’t stop there, though. He went on to say: “I am not sure I agree at all with the characterisation that the honourable gentleman has put forward.” this went beyond diplomatic deflection. this suggested that Sunak disagreed emphatically with both the questioner and the documentary he was citing. unlike cleverly, he chose to offer an opinion. on Indian websites, this was accurately interpreted as the british prime minister coming to Modi’s defence. Sunak’s seeming deference to Modi’s narrative, is proof, if any was needed, of the value of the historical documentary and the indispensability of the bbC.
Mukul Kesavan is a historian and writer.
About 100 million people used ChatGPt in the month of January, according to one estimate, which would be the fastest-growing user base ever. Yet I often speak to people who are less than impressed with ChatGPt, citing its mistakes and banalities, and they suggest it is a passing fad.
In response, allow me to offer a short guide to using ChatGPt. It can do many things for you — organize your notes, correct your grammar, work with mathematical symbols. but I will focus on the most basic use: querying it. to use it well, you need to let go of some of your intuitions about talking to humans. ChatGPt is a bot.
If you are talking to a human and he or she doesn’t understand you, you might make your question simpler. that is exactly the wrong tack to take with ChatGPt. You will get a better result by making your question more detailed and complex.
Ask ChatGPt “What is Marxism?” for example, and you will get a passable answer, probably no better than what you would get by using Wikipedia or Google. Instead, make the question more specific: “Which were the important developments in French Marxism in the second half of the 19th century?” ChatGPt will do much better — and it’s also the kind of question it’s hard to use Google and Wikipedia to answer.
ChatGPt will do better yet if you ask it sequential questions along an evolving line of inquiry. Ask it about the specific French Marxists it cites, what they did, and how they differed from their German counterparts. Keep on going.
ChatGPt does especially well at “compare and contrast.” In essence, ChatGPt needs you to point it in the right direction. A finely honed question gives it more fixed points of reference. You need to set the mood and tone and intellectual level of your question, depending on the kind of answer you want. It’s not unlike trying
by mentioning Friedman, you have pointed it to a more intelligent corner of the ideas universe. If Friedman isn’t the right guide for you, choose another economist (don’t forget yours truly!). better yet, ask it to compare and contrast the views of two economists. to understand this unusual behavior, it helps to know a bit about how these models work. they do not reason, and they do not consult the internet (though they have read the internet previously). Instead, ChatGPt works by trying to predict which words should come next to provide a likely and satisfying answer.
Here is a simple example: If I said, “the Star-Spangled (blank),” you would probably guess the next word is “banner,” because the uS national anthem is called “the Star-Spangled banner,” and you often hear those words in that order. that challenge is an easy one, but for most questions or prompts the proper sequence isn’t so obvious. ChatGPt needs some guidance from you to set off in the right direction. Act like a dog trainer and let it know what you are looking for.
ChatGPt is most likely to go wrong when it is trying too hard to please you. I have found that it creates associations, affiliations, co-authorships and even marriages that do not exist. I was recently using it with the legal scholar Cass Sunstein, a former bloomberg opinion columnist, and we asked it whether the two of us had written a book together. the genius of ChatGPt is that it hit upon exactly the book we might have written, given our overlapping areas of research interest — a book on the philosophical foundations of cost-benefit analysis. the absurdity is that no such co-authored book exists. Perhaps ChatGPt has been trained on bodies of text where most queries of affiliation are answered in the affirmative, and so to fulfill its task of predicting words well, it will make things up. So while it is wonderful for helping with your workflow or generating ideas, ChatGPt is not good as a fact-checker.
I didn’t use ChatGPt in drafting this column, by the way. If I had, however, I know exactly how I would have phrased my query — and I would have been sure to ask for something in the style of tyler Cowen.
Tyler Cowen is a Bloomberg Opinion columnist.
CHINA’S “Digital Silk Road” is an amorphous program spanning, among other things, surveillance technology, telecommunications, sea-based sub-surface data cables and landing stations, the beiDou satellite navigation system, and, of course, China’s internet guarded by the so-called “Great Firewall.” the Digital Silk Road was first described in 2015 as part of Chinese leader Xi Jinping’s belt and Road Initiative. In the Digital Silk Road: China’s Quest to Wire the World and Win the Future, Jonathan Hillman describes what he found after exploring various aspects of the project by, among other things, attending academic conferences, taking online sales training programs, and even visiting Huawei switches installed in a rural Montana network provider. In the late 1990s, former Chinese General Secretary Jiang Zemin directed that the primary purpose of the tech industry in the People’s Republic was to support the Chinese military. Hillman illustrates how at this time Western political and business leaders speciously believed that opening global markets to the People’s Republic of China, admitting it to the World trade organization, and exporting technology to China, would liberalize the communist state. His book repeatedly demonstrates how these policies (in combination with Chinese intellectual property theft, cyber-attacks, and reverse engineering), in the words of former Director of the National Security Agency, General Keith Alexander, led to the “single greatest transfer of wealth in history.” While many are now aware of the problem, the book documents how disjointed and scattershot any response to the threat has been.
this short, yet comprehensive, and extensively documented examination of the Digital Silk Road and the Chinese Communist Party’s efforts to develop world-dominating technology (through collaboration between the military, state-owned enterprises, and closely associated parastatal private companies), will be of interest to policymakers, national security professionals, and hopefully u.S. and Western business leaders. that said, the book regularly engenders feelings of disgust, disappointment, and anger as Hillman recounts episode after episode of shortsighted, wrong-headed, and greed-fueled decision-making carried out by Western companies and governments. Vladimir Lenin’s taunt that “the capitalists will sell us the rope with which we will hang them,” seems as accurate pronounced with a Chinese accent as it did when the Russian communist made the statement a century ago. IbM’s 17-year consulting project with Huawei, in which it billed more than $1.6 billion in fees to teach the Chinese how to challenge and surpass its u.S. competitors, is one example of the short-term thinking that has provided China with potentially ruinous long-term strategic advantages.
Some of the most alarming anecdotes documented in the book are those in which customers and partners of Chinese tech companies believe they are engaged in above-board business transactions, when in reality they are being set up to be robbed and exploited. examples abound. one of the Netherlands’ largest mobile phone providers—using Huawei switches— found that by 2010 Chinese intelligence could listen in on all calls carried by the service including those of the prime minister. Additionally, they learned that Chinese authorities could see all numbers monitored by Dutch police and security services. the African union (Au) had its headquarters financed and built by the PRC, and in 2018 it was discovered that for the previous five years the data from its servers was being sent nightly to China. In 2020, the African union learned that its surveillance cameras were sending their footage there as well. Nortel Networks Corporation—once Canada’s largest and wealthiest company—went bankrupt after partnering with and then being
IN A WAR, BDS COULD PROVIDE THE CHINESE MILITARY WITH AN ALTERNATIVE METHOD TO EMPLOY PRECISION GUIDED WEAPONS, WHILE AT THE SAME TIME USING THEIR WELL-KNOWN COUNTERSPACE SYSTEMS TO BLIND U.S. GPS
victimized by its Chinese telecom partners. the Canadian ministry of defense purchased the defunct headquarters for $200 million, only to find it extensively penetrated with spy-gear. After spending an additional $790 million in remediation efforts it was still unable to certify the space as secure. Hillman demonstrates the disconnect between American government policy and private industry’s goals. He makes a convincing case for the importance of government intervention in markets as part of a national security policy for critical topics such as rural broadband, given private industry’s lack of profit incentive to do so.
Where the book is perhaps less persuasive is in the final section, in which it proposes greater Western collaboration and cohesion. My enjoyment in reading the Digital Silk Road, was enhanced by serendipitously finding it in the small english-language section of a european bookstore. unfortunately, the european union and major economies such as Germany and France have their own stakeholders, and appear to be seeking their own path rather than siding too closely with the united States. the early November 2022 visit to beijing of German Chancellor olaf Scholz and the heads of 12 major companies (including Siemens, bASF, and Volkswagen) demonstrates berlin’s interest in ever greater business ties with the People’s Republic.
Hillman’s work deserves to be discovered and read by a wide audience. throughout the book, he documents how the Digital Silk Road poses a threat not only to u.S. economic interests, but potentially to wider national security interests as well. As an example, China’s undersea cable system, and access to the trunk-line landing stations, potentially provides them access to u.S. fiber-optic cables carrying trans-continental data, which may introduce questions of the reliability and security of u.S. communications. Similarly, the work focuses on how China intends for the beiDou Navigation Satellite System (bDS) to compete to replace the lead position occupied by the u.S. Global Positioning System (GPS). In a war, bDS could provide the Chinese military with an alternative method to employ precision guided weapons, while at the same time using their well-known counter-space systems to blind u.S. GPS. this eye-opening and disturbing book is a welcome addition to the literature on the rising multi-spectrum threat posed by China, and deserves attention by the military, diplomats, and anyone considering doing business with entities engaged in China’s Digital Silk Road.
Christopher D. Booth is a national security professional, served on active duty as a U.S. Army armor and cavalry officer, and was a fellow in the General Robert H. Barrow Fellowship for Strategic Competition and the Brute Krulak Center for Innovation & Creativity. The views expressed are author’s.
The Digital Silk Road: China’s Quest to Wire the World and Win the Future by Jonathan E. Hillman. New York, NY: Harper Business, 2021.
islamabad News desk
Askari Bank Limited (AKBL) and Special Communications Organization (SCO) have signed an agreement for collaborative effort towards attainment of State Bank of Pakistan’s (SBP) vision to promote financial inclusion and broadening access to financial services. The prime purpose of this strategic alliance with SCO, leading Information and Communication Technology (ICT) services provider, is to complement SBP’s vision for Financial Inclusion and expanding the outreach of financial services in Azad Jammu & Kashmir (AJ&K) and Gilgit Baltistan (GB). SCO will utilize its “S-Paisa Pension Account” facility through its Digital Financial Services platform “S-Paisa” under the national service initiative with the approval of the SBP. The partnership between AKBL and SCO aims to readily disburse pension to customers by providing Over-theCounter (OTC) facility by utilizing AKBL Digital Wallet along with the strong retail network of SCO in AJ&K and GB. The Agreement was signed by Mr. Khurshid Zafar - Chief Operating Officer AKBL and Colonel Farhan Shahid KhanDirector Commercial Affairs SCO. pr
KARAcHi: Digital Banks recently licenced by the State Bank of Pakistan to operate in the country have promised greater financial inclusion in the unbanked masses and investment in technology and customer servces to help the financial sector grow. Chief Executives of three Digital Banks including Mashreq Bank, Raqami and Easypaisa DB voiced similar future plans during the 4th Digital Banking and Payments Summit and Expo (DigiBAP2023) organized by TerraBiz in Karachi on Wednesday. The Chief Guest at the inaugural session was Dr. Ishrat Hussain, former Governor State Bank of Pakistan, while other prominent speakers and panelists during the day long conference included Shadaz Dada, President UBL; Irfan Lodhi, Chief Executive Mashreq Bank; Sohail Javaad, Executive Director State Bank of Pakistan; and Mudassar Aqil, Chief Executive Easyaisa DB as well as many others from across the country. A number of international financial experts like Evans Munyuki, celebrated author and former Group CDO Emirates DB; Fernando Morillo, Global Head of Retail Mashreq Bank; Faran Niaz, banking customer services expert; Alexandra Topalian; and others travelled specially to Pakistan for the conference. During his address, Dr. Ishrat Hussain said that financial reforms are an ongoing process. The State Bank had encouraged new initiatives over the years like Islamic Banking, Microfinance Banking to empower women and provide financial services to traditionally unserved sections of the society from agri and SME financial services. Digital Banks are the future and have the means and opportunity to promote financial inclusion and make inroads where conventional banks cannot reach, he said. Commenting on the state of banking in the country, speakers were of the opinion that it is not easy making the behavioral change to transition from a cash economy to a digital economy.
LAHORE: Fast Cables is proud to sponsor Islamabad United
In the upcoming PSL season - 8, for the 5th consecutive year. On Tuesday, February 7th, 2023, a signing ceremony was held at Fast Cables' Lahore Head office. The signing event was witnessed by Mr. Saleem Akhtar Qadri, General Manager Fast Cables and Mr. Rehan-ul-Haq, General Manager Islamabad United. Mr. Ali Arshad Assistant General Manager and other senior management members cut the cake to celebrate the partnership at the end of the ceremony. Famous cricketers Shadab Khan applauded Fast Cables' efforts to promote sports in Pakistan during interviews with the media. pr
pAKISTANis currently dealing with one of its worst economic crises and its tax authorities are concentrating their efforts on collecting as much tax as possible from existing taxpayers instead of focusing on evaders and collecting the Gas Infrastructure Development Cess (GIDC).
Data from the Federal Board of Revenue (FBR) reveals that tax collec-
tions are expected to fall short of the target by Rs 170 billion this fiscal year due to declining economic activities and the forex crisis.
According to Muhammad Awais Ashraf, the Head of Research at Foundation Securities Limited, the government's strategy is to collect additional taxes through a mini-budget and by increasing the petroleum levy.
He points out that the government's dependence on organized sectors for tax collection is causing an increase in the cost of industries and
the manufacturing sector. Ashraf suggests that there is a need to bring non-tax paying sectors into the tax net and increase collections from tax paying sectors that are paying less than their potential.
The tobacco industry, for example, is one of the major sectors that is burdening the national exchequer due to illegal trade and tax evasion and is also limiting the business of tax-paying organized industries. Analysts estimate that 40% of all cigarettes sold in Pakistan are done
islamabad
News desk
The Chairman of the Businessmen Group (BMG), Zubair Motiwala, expressed his concern over the ongoing unresolved issue of stuck-up containers at the port and the unreasonable profits being made by shipping lines and terminal operators. According to Motiwala, these operators are making up to 5,000 percent profit on these containers, causing significant anxiety among the business and industrial community. Despite a meeting being held to resolve the issue and reduce the demurrage and detention charges, no announcement has been made in this regard so far.
As a result of the delays in resolving the issue, the cost of imported consignments has increased dramatically. In some cases, the extraordinary demurrage and detention charges have exceeded the actual value of the goods, making it infeasible for importers to retrieve their consignments. Motiwala estimates that shipping companies and terminal operators have a windfall profitability of around 5,000 percent or more on the 5,630 containers that have been stuck for the past three months. Motiwala also highlighted that inflation has been driven not only by the dollar-rupee parity but also by the delays in releasing imported consignments, the unavailability of raw materials, and the
through tax evasion, making Pakistan one of the top countries for illegal cigarette trade in Asia.
Ashraf suggests that a track and trace system has been implemented in five major sectors including cigarettes, cement, sugar, fertilizer, and petroleum to eliminate tax evasion. If this system is effectively implemented in the entire cigarette industry, tax collections will increase.
To read the full article visit www.tribune.com.pk
limited production activities at general and exportoriented industries.
He pointed out that the central bank had given assurance that containers would be cleared if payments were arranged from outside Pakistan, but commercial banks were creating hindrances and intensifying the hardships for businesses and the ailing economy.
Furthermore, the delays in releasing payments to suppliers have also given a bad reputation to Pakistani importers and damaged their relationships with suppliers. Motiwala urged the government to take notice of the situation and put pressure on shipping lines and terminal operators to provide maximum relief on the stuck-up containers so that the clearance process can be expedited. He warned that if the issue remains unresolved, businesses will be destroyed.
To read full article visit www.thenews.com.pk
islamabad News desk
Writing for The Express Tribune, Shahbaz Rana reports that the federal statistical discrepancy, which refers to untraceable expenses or unknown revenues, has skyrocketed to nearly Rs320 billion in the first half of the fiscal year, according to the Ministry of Finance.
The report showed that there is no trace of Rs319.6 billion of the federal government's spending or revenue, and this has caused the total expenditure to be shown as Rs4.247 trillion, which is Rs147 billion less than the current expenses of Rs4.390 trillion. This huge discrepancy raises questions over the credibility of the figures released by
the finance ministry, and the International Monetary Fund (IMF) is also facing this dilemma. The report showed that interest expenses have increased significantly to Rs2.57 trillion during the first half of the fiscal year, equal to 65% of the annual debt servicing budget and an alarming 77% increase in the cost of interest on the federal government's debt stock.
Domestic debt servicing stood at Rs2.27 trillion, while external debt servicing amounted to Rs300 billion, a 152% increase compared to the same period a year ago. Development expenses amounted to only Rs162 billion in six months, which is only 6.2% of the debt servicing cost. Pakistan has informed the IMF that the cost of debt servicing may rise to nearly Rs5.2 trillion this fiscal year, more than half of this year's total budget of Rs9.6 trillion.
Karachi
staff report
Media Brief of Pakistan International Maritime Exhibition and Conference (PIMEC) was held at Karachi Expo Center today. Commander Karachi Rear Admiral Mian Zakirullah Jan alongwith additional secretary Ministry of Maritime Affairs (MOMA) Mr. Asad Rafi Chandna briefed media regarding PIMEC.
The maiden edition of Pakistan International Maritime Exhibition and Conference will be held from 10 – 12 Feb 2023 at Karachi Expo Center. 133 exhibitors including 21 international firms and 112 local firms/ international organizations are participating in the exhibition.
In addition 37 x international delegations from 17 countries including Bahrain, KSA, Qatar, Oman, Turkiye, UK, Italy, Germany, Portugal, USA, Colombia, Sri Lanka Malaysia, Gambia, Guinea Bissau, Mauritius, Madagascar, Seychelles and Kazakhstan will also attend the event. Another highlight of the event is active participation of Sindh and Baluchistan Governments which has established exclusive pavilions aimed at promoting investment in the maritime sector.
PIMEC will include maritime exhibition, business to business (B2B) and business to Govt (B2B) meetings, signing of MoUs and media interactions. The main objectives of PIMEC are to highlight Pakistan’s potential for blue economy, provide opportunities to maritime Industry both
in Public & Private sectors to display products at one forum. This will also provide a platform for interaction with international maritime industry for joint ventures, transfer of technology and research to provide importance to Pakistan’s Maritime and Defence industries.
In parallel, the PIMEC’s conference part i.e. International Maritime Conference – 2023 spearheaded by National Institute of Maritime Affairs, has also been organized on the theme ‘Embracing Blue Economy – Challenges and Opportunities for Developing Countries’.
The IMC, thematically distributed under 4 Sessions, will cover 27 papers by national and international speakers of repute.
Pakistan International Maritime Exhibition and Conference is being conducted in tandem with Multinational Exercise AMAN-23 which will provide an opportunity to over 122 delegates from 50 participating navies to witness this event. This will also increase opportunities for local exhibitors to interact with international attendees of visiting Navies from across the globe.
Despite this precarious situation, the finance ministry seems indifferent to the biggest challenge threatening the country's long-term viability. Excluding military pensions and expenses on the armed forces development program, Rs638 billion was spent on defense in six months, which is Rs118 billion or nearly 23% more than last year. With a net income of Rs2.46 trillion, the accumulative spending on debt servicing and defense jumped to over Rs3.2 trillion, 130% or Rs749 billion more than the government's net income.
Compared to the Rs3.2 trillion spent on debt servicing and defense, only Rs162 billion was spent on development, and all other expenses of the government amounted to Rs1.1 trillion, down compared to the previous year. The federal budget deficit widened to nearly Rs1.8 trillion in the first six months of the current fiscal year. According to the finance ministry, the statistical discrepancy occurred due to a Rs319 billion addition in the cash deposits of the government and its entities.
To read full article visit www.tribune.com.pk
Karachi pr
Bank Alfalah, one of the largest commercial banks in Pakistan, has collaborated with Indus Earth Trust (IET), a not-for-profit organization, to host several financial educational sessions with Benazir Income Support Programme (BISP) beneficiaries aimed at elevating financial literacy and promoting easy access to services, with the goal of simplifying and enhancing the lives of women in rural areas. The partnership between Bank Alfalah and Indus Earth Trust (IET) has led to the successful completion of 40 workshops, attended by over 1000 women from various areas of Karachi and Thar. These workshops were centered around managing household finances, various saving methods, investment options, introduction to micro-finance, the significance of having a bank account, and the advantages of different insurance policies. As a result, more than 200 women signed up for wallet accounts as well as Asaan women's digital accounts which will enable them to get multiple benefits such as easy withdrawal, savings and accessibility to investments. Commenting on the importance of financial inclusion for women, Mehreen Ahmed, Group Head of Retail Banking Group said, “Enhancing financial literacy is imperative for women, as it has the power to greatly enhance their autonomy and overall welfare. I am pleased with our partnership with Indus Earth Trust, as we are enabling women to engage in the workforce and make informed choices for themselves and their families.
Govt admits to financial shortfall as ‘discrepancy’ of Rs320b surfacesKE sets up Computer Lab at DIL School in Bin Qasim. The school is the winner of KE’s KHI Awards and provides education to 360 children at this remote campus. KE Chief IT Atif Aslam inaugurated the facility. Regional Head Adnan Sami, Head of ESG Aliya Idris and Cluster Head Muzammil Ilahi and DIL Director Program Zeba Shafi were also present. pr
Hopes were fading Thursday for rescuing survivors of the earthquake in Turkey and Syria, which has killed over 17,500 people in one of the deadliest tremors in decades.
Bitter cold has hampered the four-day search of thousands of flattened buildings and the 72-hour mark that experts consider the most likely period to save lives has passed.
Relatives were left scouring body bags laid out in a hospital car park in Turkey’s southern city of Antakya to search for missing relatives, an indication of the scale of the tragedy.
“We found my aunt, but not my uncle,” said Rania Zaboubi, a Syrian refugee who lost eight members of her family, as other survivors sought loved ones’ bodies among the corpses.
The 7.8-magnitude quake struck as people slept early Monday in a region where many people had already suffered loss and displacement due to Syria’s civil war.
An official at the Bab al-Hawa border crossing told AFP that an aid convoy reached rebel-held northwestern Syria Thursday, the first since the earthquake that has left survivors sleeping outdoors due to aftershock risks.
A decade of civil war and SyrianRussian aerial bombardment had already destroyed hospitals, collapsed the econ-
omy and prompted electricity, fuel and water shortages.
– Freezing temperatures –Temperatures in the Turkish city of
Gaziantep plunged to minus five degrees Celsius (23 degrees Fahrenheit) early Thursday, but thousands of families spent the night in cars and makeshift tents — too scared or banned from returning to their homes.
Parents walked the streets of the city — close to the epicentre of Monday’s earthquake — carrying their children in blankets because it was warmer than sitting in a tent.
Some people have found sanctuary with neighbours or relatives. Some have left the region. But many have nowhere to go. Gyms, mosques, schools and some stores have opened up at night. But beds are still at a premium and thousands spend the nights in cars with engines running to provide heat.
BAB ALHAWA BORDER CROSSING, SYRIE: An aid convoy reached rebel-held northwestern Syria Thursday, the first since a devastating earthquake that has killed thousands, an official at the Bab al-Hawa border crossing told AFP.
The 7.9-magnitude quake early Monday has killed more than 17,000 people in Turkey and war-ravaged Syria, according to officials and medics in the two countries, flattening entire neighbourhoods. “The first UN aid convoy entered today,” said Mazen Alloush, media officer at the crossing. An AFP correspondent saw six trucks passing through the crossing from Turkey, carrying tents and hygiene products. Alloush noted the delivery had been expected before Monday’s quake, but said: “It could be considered an initial response from the United Nations, and it should be followed, as we were promised, with bigger convoys to help our people.”
The aid delivery mechanism from Turkey into rebel-held Syria through the Bab al-Hawa crossing is the only way UN assistance can reach civilians without passing through areas controlled by Syrian government forces. While the crossing itself was not affected by the quake, the road leading to it was damaged, temporarily disrupting operations, a UN spokesman said on Tuesday. UN special envoy Geir Pederson said Thursday that the emergency response in Syria should “not be politicised” following “one of the most catastrophic earthquakes the region has seen in about a century”. AGENCIES
NEW DELHI AGENCIES
The Animal Welfare Board of India (AWBI) has issued a notice appealing to people to celebrate “Cow Hug Day” on February 14, claiming the act would foster “emotional richness” and increase individual and collective happiness, according to a report.
In its appeal issued to the public quoted by the paper, the advisory body described Valentine’s Day as the “dazzle of Western civilisation” and said that “Vedic traditions are almost on the verge of extinction due to the progress of Western culture over time.”
“In view of the immense benefit of the cow, hugging with cow will bring emotional richness hence will increase our individual & collective happiness (sic). Therefore, all the cow lovers may also celebrate February 14 as Cow Hug day keeping in mind the importance of mother cow and make life happy and full of positive energy,” the report quoted the body as saying in its appeal. The welfare board called the cow the “backbone of Indian culture and rural economy”, adding that the animal represents “cattle wealth and biodiversity.”
The Chinese Foreign Ministry on Thursday warned the U.S. to stop spying on China by sending vehicles in close proximity to China.
The ministry’s spokesperson Mao Ning made the remarks at a regular press briefing when she responded to reports that a U.S. unmanned vehicle for collecting underwater information found in Namibia was suspected of a spy ship and the latest data issued by a Chinese think tank that the U.S. military conducted 64 close-in spying flights over the South China Sea in January this year.
Mao said that most surveillant and spying activities around the world have been conducted by the U.S. and it has long been gathering intelligence in other countries.
She noted that the U.S. side frequently sends vessels and aircrafts to conduct close-in reconnaissance on China, which seriously endangers China’s national security and undermines regional peace and stability.
China has repeatedly expressed serious concern that the U.S. side should immediately stop such provocative behavior, she stressed.
Meanwhile, Mao reiterated that the unintended entry of a Chinese civilian airship into U.S. airspace
was caused by force majeure.
She refuted the U.S.’s claim that it was a spy balloon, saying it is part of the U.S.’s information and public opinion warfare against China.
China welcomes U.S. Treasury Secretary Yellen’s proposed visit China’s Ministry of Commerce (MOFCOM) on Thursday said the country would welcome a visit by U.S. Treasury Secretary Janet Yellen.
“It is very important for both sides to maintain normal communication. China has a welcoming attitude to Yellen’s hope to visit China,” said MOFCOM spokesperson Shu Jueting at a weekly press conference.
SRINAGAR AGENCIES
IN Indian illegally occupied Jammu and Kashmir, complete shutdown was observed in Srinagar, Sopore and other areas on Thursday to mark the martyrdom anniversary of Kashmiri son of the soil, Muhammad Afzal Guru. Call for the shutdown has been given by the All Parties Hurriyat Conference and Jammu and Kashmir Liberation Front.
OSLO AGENCIES
Norway’s $1.2 trillion sovereign wealth fund, the world’s largest, said Thursday it has completely divested its assets in the troubled Indian conglomerate Adani.
The fund, which is set up to put the country’s oil and gas revenues to work, held some $200 million worth of shares in the group at the end of 2022.
It had a stake of 0.14 percent in Adani Green Energy, 0.17 percent in Adani Total Gas and 0.3 percent in Adani Ports & Special Economic Zone.
“Since year-end, so the five weeks since yearend, we have further reduced our exposure in Adani companies significantly,” said Christopher Wright, the head of environmental, social and governance (ESG) risk monitoring at the fund.
“So today for all intents and purposes, we have no exposure left,” Wright added.
Between 2014 and 2023, the fund had already divested from six subsidiaries of the Adani conglomerate, mainly for environmental reasons, namely their role in deforestation and their high greenhouse gas emissions.
The business empire of Indian billionaire Gautam Adani lost around $120 billion in value after US short-selling investment group Hindenburg Research accused it of artificially inflating share prices in a report released in January.
These remarks came after Yellen on Wednesday said she still hoped to visit China, though she did not provide any specific details regarding timing.
Last month, Chinese Vice Premier Liu He spoke with Yellen about macroeconomic and financial issues during their meeting in Zurich, Switzerland.
At that time, both sides agreed that strengthening communication and coordination of macroeconomic policies, as well as jointly responding to challenges, would benefit China, the U.S. and the world during a critical period of economic recovery.
It clawed back some of that this week after pledging to repay $1.1 billion worth of early loans in a move meant to reassure investors. Hindenburg accused Adani of artificially boosting the share prices of its units by funnelling money into the stocks through offshore tax havens.
Adani has repeatedly denied the allegations and accused the US investment firm of a “maliciously mischievous” reputational attack. Last year, the Norwegian fund divested from a record 74 companies worldwide, judging their ESG practices to be detrimental to their profitability, and from 13 others after recommendations from an ethics council.
The fund has investments in about 9,000 companies, as well as bonds and real estate, and is governed by ethical rules that prohibit it from investing in companies that commit serious human rights abuses, manufacture nuclear weapons, or are involved in coal and tobacco.
Despite Indian military, police and Modi regime’s threats, shops and business establishments remain closed while movement of traffic is thin in down town area of Srinagar city, Doabgah Sopore and at other places. The shutdown is aimed at pressing the demand for the return of the mortal remains of Muhammad Afzal Guru and renowned Kashmiri liberation leader, Muhammad Maqbool Butt, from New Delhi’s Tihar Jail to occupied Kashmir to accord them a decent burial.
India had sent Muhammad Afzal Guru to
the gallows in New Delhi’s Tihar Jail on this day in 2013 and hanged Muhammad Maqbool Butt in the same jail on February 11 in 1984 for their leading role in the Kashmir freedom movement. Their bodies remain buried in the premises of the jail. The occupation authorities deployed Indian troops and police personnel in strength across the occupied territory, today, to prevent people from holding protest demonstrations against the hanging of Afzal Guru and Maqbool Butt and continued Indian state terrorism in the occupied territory.
PAKISTAN outplayed Korea and Hong Kong in the pool matches of the 21st Asian Junior Squash Championship at Chennai, India on Thursday.
On the second day of Pool Matches, the Pakistani team defeated Korea in the morning session by 3-0.
Noor Zaman of Pakistan beat Seo Jin Oh of Korea by 6-11, 11-6, 11-6 and 117 in 28 min, Hamza Khan of Pakistan beat Kun Kim 12-10, 7-11, 11-8, 9-11 and 11-6 in 35 min and Ashab Irfan of Pakistan beat Teo Kyung Jung 11-5, 113, 11-4 in 18 min.
In the 4th Pool match also, Pakistan defeated Hong Kong by 3-0 in the evening session.
Noor Zaman of Pakistan beat Arthur Law Pak Ki (HKG) 11-8, 11-7, 11-3 in 21 min, Hamza Khan of Pakistan beat Kelvin Lu Chun Yu of Hong Kong 11-7, 11-5, 11-6 in 22 min and Ashab Irfan of Pakistan beat Tam Tse Shing of Hong Kong 11-6, 11-7, 11-6 in 25 min.
ZOHRA ABDULLAH WINS
KASHMIR DAY KP JUNIOR
SQUASH CHAMPIONSHIP : Top seed Zohra Abdullah clinched the trophy of the Kashmir Day Khyber Pakhtunkhwa Junior Squash title after defeating her strong rivals Manahil Aqeel in the U19 final played here at Qamar Zaman Squash Complex on Thursday. Asian Games gold medalist Aamir Atlas, Administrator Peshawar Sports Complex Deputy Director Syed Jaffar Shah, Director Blue Tone Squash Academy, former World Champion Qamar
Zaman, Squash Coach Tahir Iqbal, Muhammad Waseem, Chief Referee Munawar Zaman were also present and witnessed the three finals.
In the first final of the U19 Age Group category, Zohra Abdullah defeated Manahil Aqeel in a hotly contested 3-2 battle. Zohra Abdullah, who is also a consistent winner, lost the first two sets by 9-11, 10-12 but she made a strong comeback and marched into victory in three consecutive sets. The score was 12-
10, 13-11 and 11-9. Both Zohra and Manahil played well and gave each other a tough fight in the marathon five sets battle that lasted for 51 minutes. The final was also witnessed by former World Champion Qamar Zaman along with other guests and appreciated the play of both Zohra and Manahil.
In the U17 category final, Rania Qazi of Abbottabad recorded victory against Hafsa Yousaf of Peshawar in another thrilling match. Rania Qazi played well and despite losing the first set at the hands of Hafsa Yousaf at 10-12, she made a comeback and won three consecutive sets at 11-9, 12-10 and 11-7 by winning the final. Rania Qazi has forcefull smashes but Hafsa Yousaf has good drops and some excellent nick shorts which are largely enjoyed by the sitting spectators.
In the U13 category Nimra Rehman from Abbottabad recorded victory against 10-year-old Maleeha Shah in a superb final wherein both exhibited some good attacking game. Maleeha won two consecutive sets by 10-12, and 7-11 but on the other hand Nimra Rehman played well and despite losing the first two sets, won three timely sets by 11-9, 12-10 and 11-9.
KARACHI STAFF REPORT
Gillette Pakistan today announced Pakistan National Cricket Team’s superstar and sensational bowler, Naseem Shah, as its newest brand ambassador along with campaign launch of the first locally produced razor, Blue 3 Flexi, at a private event held at its Head Office in Karachi.
Consistent with the program values, Naseem Shah was onboarded not only for his sporting accomplishments, but also for his grit on overcoming barriers in his life. He is as much a champion in his personal life as he is on the pitch. As per the partnership, the athlete will be fully integrated into Gillette brand programs and will be leveraged through multi-faceted marketing initiatives, including broadcast advertising, consumer promotions and point of sale materials in support of what will be Gillette's most sought-after razor, making this the largest current sports marketing initiative for the brand in Pakistan.
Naseem Shah has had his fair share of challenges yet proved himself an inspirational individual who overcame those with courage and thrived. Naseem Shah made his test cricket debut at the age of 15 and broke multiple records, including becoming the youngest fast bowler to take a five-wicket haul and achieve a hattrick. He never ceases to impress on the pitch and continues to dominate on and off the field with his talent and popularity.
Announcing the launch of the new campaign for its Blue 3 Flexi razors, Muhammad Fahad Saleem, Commercial Leader, Gillette Pakistan, said “The Gillette name is synonymous with being the best. We are delighted to have Naseem Shah join the Gillette brand legacy today. His determination, grit, and commitment on and off the pitch, are exemplary, and embody the core ethos of the brand being #TheBestAManCanBe. We are
NAGPUR, INDIA AGENCIES
Indian spinner Ravindra Jadeja grabbed a five-wicket haul on his international return to help bowl out Australia for 177 on Thursday’s opening day of the first Test.
Jadeja returned figures of 5-47 and fellow spinner Ravichandran Ashwin took three wickets as the Australian innings folded in the final session on a turning Nagpur pitch.
Marnus Labuschagne (49) and Steve Smith (37) had launched a fightback with their third-wicket 82-run stand after losing openers Usman Khawaja and David Warner early in the day.
Peter Handscomb, who made 31, and wicketkeeperbatsman Alex Carey, who hit 36, also put on a partnership of 53 before Ashwin ended Carey’s spell to record his 450th Test wicket.
Jadeja’s double strike on successive balls soon after lunch rocked the tourists as he sent back Labuschagne and then trapped Matt Renshaw for a first-ball duck. The left-arm orthodox spinner, back in the Indian side after a knee injury, later bowled Smith with a delivery that went through his bat and pad.
Ashwin and Jadeja kept up the charge to get into the Australian tail when the tourists took tea at 174-8, and added just three runs in the final session.
Earlier, seamer Mohammed Siraj struck on his first ball to get Khawaja trapped lbw for one with a delivery that swung in to the left-hander, after the tourists elected to bat at the start of the four-match series.
MANCHESTER AGENCIES
excited to have him as the new face of our campaign, and we look forward to him becoming, undoubtedly, one of the best this sport has seen.”
With Naseem on board, Gillette Pakistan aims to connect with millions of consumers from across the country looking for inspiration to take their lives to the next level, fueled by strength, courage, and passion. Speaking at the event, Naseem Shah said, "I am honored to be joining the Gillette team today. The decision to come on board was extremely natural for me, as I know we share the same beliefs and values and believe in the ideas of shattering self-conceived limitations and barriers.”
About Gillette For 120 years, Gillette has delivered precision technology and unrivalled product performance – improving the lives of over 800 million consumers around the world. From shaving and body grooming, to skin care and sweat protection, Gillette offers a wide variety of products including razors, shave gel (gels, foams and creams), skin care, after shaves, antiperspirants, deodorants and body wash. For more information and the latest news on Gillette, visit www.gillette.com. To see our full selection of products, visit www.gillette.com. Follow Gillette on Twitter, Facebook and Instagram.
Substitute Jadon Sancho’s first goal since September earned Manchester United a thrilling 2-2 draw with Leeds United in the Premier League as the hosts came back from two goals down to salvage a point.Leeds flew out of the traps and stunned Old Trafford into silence after 55 seconds when Wilfried Gnonto arrowed the visitors in front from the edge of the penalty area. The home side wasted a host of chances to level in the first half, before Leeds looked to have stormed into a match-winning position early in the second period as Raphael Varane put through his own net to double the visitors’ advantage.
However, in-form Marcus Rashford headed the hosts back into the match in the 62nd minute and Sancho stepped off the bench to rescue his side a point eight minutes later, squeezing the ball past goalkeeper Illan Meslier. Old Trafford sensed another rousing comeback would be completed with a late winner, but their side ran out of steam, failing to win at home for the first time in 14 matches in all competitions.
AUCKLAND
AFP
Former Black Caps captain Brendon McCullum thinks patriotic cricket fans will forgive him for coaching England against New Zealand, as long as the two sides deliver an entertaining clash.
“I guess so,” he told reporters in Hamilton Thursday when asked if it felt odd to wear England’s cricket kit in his native New Zealand, “but it’s nice to be here”.
“We’re looking forward to the challenge in front of us with New Zealand.”
The 41-year-old retired from Test cricket in 2016 having scored nearly 6,500 runs for New Zealand in 101 Tests, including 12 centuries.
Born in Dunedin at the bottom of New Zealand’s South Island, McCullum has enjoyed a dream start since taking over as England coach last May.
He helped engineer a home series win against South Africa plus a clean sweep of three Tests in Pakistan. There was also a famous Test win against India at Edgbaston last July, when England chased down a record 378 while losing just three wickets — as well as a 3-0 series win over New Zealand on English soil last June.
“It’s been a good start, definitely. Results have been great,” McCullum said.
Next up is his first tour in New Zealand as England coach with two Tests against the Black Caps, starting at Mount Maunganui next Thursday before a second in Wellington the following week.
McCullum, once one of the game’s most entertaining players, does not expect a hostile reception from the Kiwi crowds.
“It should be alright, I would think. Obviously, people are patriotic.
“Even if sometimes your own team doesn’t win, you still walk away knowing you have had a hell of a day out.
“Hopefully that will be the case during this series.”
New Zealand host England with new captain Tim Southee taking charge in his first home series since Kane Williamson stood down as skipper.
Williamson will go head to head with England captain Ben Stokes in a highly anticipated clash between two of the world’s best batters.
McCullum described Stokes as “the sort of guy who writes his own scripts and achieves some pretty special things”.
The Black Caps drew two Tests against Pakistan in January, but managed only one victory from six limited-overs games against India earlier this year.
McCullum was full of praise for
Southee, who he played alongside for the Black Caps. “We know New Zealand will be very
good in these conditions, Tim will be creative, as he always is, and I look forward to seeing how we respond to that.”
THE federal government, after passing six long years, has finally taken a big decision to redevelop the site of Pakistan International Airlines’ owned asset Roosevelt hotel, New York for commercial use, it was reliably learnt on Wednesday.
According to sources of the Ministry of Privatization, the federal cabinet has decided to redevelop the site of PIA owned asset Asset-Roosevelt Hotel, New York into a mixed use of primarily office tower over retail and condominium after closing the hotel. Similarly, the federal cabinet has also given a go ahead to initiate the process of hiring of the financial advisor (FA) which was pending from the last two years. Moreover, the cabinet has also sought submission of a progress
NEPRA approves
report from the Privatization Commission within three months.
The hotel’s origins
In use by Pakistan International Airlines (PIA) since the late 1970s, the Roosevelt Hotel occupies a unique place both in the history of the United States and Pakistan’s national airline. One of the grand-old buildings of 19th century New York, the hotel was bought by developer Paul Milstein in July 1978. In the bid for the hotel’s ownership, Milstein beat out a number of high-profile middle-eastern investors that wanted to form a consortium and buy the hotel.
The very next year in 1979, Milstein ended up leasing the hotel to the PIA which had partnered with Prince Faisal bin Khalid bin Abdul Aziz Al Saud in the transaction. The lease cost an estimated $35 million and was to run for 20 years. Prince Faisal and PIA were to pay $2.7 million to $4 million annually in
Rs10.80/unit cut in KE tariff
KARACHIITES TO RECEIVE AT LEAST RS12B RELIEF IN FEBRUARY’S BILLS
The National Electric Power Regulatory Authority (NEPRA) has approved a Rs 10.80/unit cut in the power price for consumers of K-Electric (KE) on account of fuel charges adjustment (FCA) for the month of December 2022, and issued a notification in this regard on February 9.
According to the notification, this cut in electricity price shall be applicable to all the consumer categories except domestic consumers using upto 300 units, agriculture consumers and Electric Vehicle Charging Stations (EVCS) consumers of KE. “It is hereby clarified that negative adjustment on account of monthly FCA is also applicable to the domestic consumers having Time of Use (ToU) meters irrespective of their consumption level,” reads the NEPRA notification.
It also said that the KE shall reflect the FCA in respect of December 2022, in the billing month of February 2023.
Also, while effecting the FCA, K-Electric Ltd. shall keep in view and strictly comply with the orders of the courts notwithstanding this order, the notification added. According to sources, Karachiites will receive more than Rs 12 billion worth relief in February’s power bills with effect to Rs 10.80/unit cut in power price on account of FCA for the month of December 2022.
On January 31, 2023, NEPRA conducted a hearing on the application of KE to decrease the power price, and considered the variation in FCA of December 2022. After an initial scrutiny of the data, NEPRA hinted at the approval of Rs 10.80/unit cut in the power tariff for the consumers of KE.
C ONTINUED ON PAGE 05
rent, and they also obtained an option to acquire the hotel after 20 years at a set price of $36.5 million.
True to this, in 2000, the PIA and Prince Faisal bought the hotel for $36.5 million. However, in the course of the lease the hotel was regularly mismanaged and its facilities began to deteriorate and become outdated.
Over the years, the question of selling the hotel arose a number of times.
However, every time the government of Pakistan shied away from actually pulling the plug and has spent millions of dollars on its renovations. Things really took a turn for the worse in 2020 when the Covid-19 pandemic hit.
Hotel closure and suggestions galore
According to media reports, the hotel took a great hit from the general downturn that the hospitality industry saw during the course of the pandemic. An Aviation Division report from earlier
even indicated that the hotel had to be shut down in December 2020 with the approval of cabinet to avoid a yearly loss of $37 million.
Back in 2020, the Cabinet Committee on Privatization (CCoP) the approved leasing of the hotel site for setting up a joint venture project for prospective mixed used development, the best suited mode of privatisation as delineated in the PC Ordinance, 2000 and directed PC to initiate the appointment of Financial Advisor.
However, litigation in Tethyan Copper Company (TCC) in a Reko Diq case, halted the process for appointment of FA.
“Owing to the litigation in British Virgin Island (BVI) court’ in the context of Reko Diq & Tethyan. Copper Co. (TCC), the matter of leasing out the Roosevelt Hotel was put on hold in 2021,” said sources.
C ONTINUED ON PAGE 05
4.4% IN H1FY23, NON-TAX REVENUE-TO-GDP RATIO REMAINS STEADY 1.1% CO MPARED TO SAME PERIOD LAST YEAR
The country’s tax-to-GDP ratio fell to 4.4% in the first half of FY 2022-23 from 4.8% during the same period last year, a fiscal operations report by the ministry of finance said on February 8.
Amidst the fiscal crisis, the debt servicing-to-GDP ratio for the first half of the current fiscal year also paints a bleak picture.
Domestic servicing-to-GDP ratio is touching 2.7%, up 0.7%, and international debt servicing-toGDP ratio is at 0.4%, up 0.2%.
The jump in the percentage of domestic debt servicing was caused by increased borrowing, which stands at Rs 1.98 trillion, to fi-
nance the fiscal deficit, compared to last year’s Rs 1.58 trillion in the same period.
On the other hand, the nontax revenue-to-GDP ratio remains unchanged at 1.1% compared to the same period last year. This figure has been backed by the surplus profit earned by the State Bank of Pakistan of Rs 378 billion and Rs 179 billion raked in via petroleum development levy.
Authorities had already taken notice of the low tax generation and taken action to increase tax revenue. On Tuesday, the Federal Board of Revenue (FBR) increased the standard sales tax from 17% to 18% by promulgating the Tax Laws Amendments Ordinance, 2023. As per reports
in local news outlets, the promulgation was to start on February 9, but Profit reached out to the FBR and received no comment on this as of yet.
Similarly, on Tuesday the Supreme Court also ordered that 50% of Super Tax imposed earlier by the government be collected within a week. The Super Tax is a 10% tax on 13 sectors including steel, banking, cement, cigarettes, chemicals, beverages, liquefied natural gas (LNG) terminals, airlines, textile, automobile, sugar mills, oil and gas, and fertilizer.
Such measures are being taken to meet the cash surplus target of Rs 800 billion set by the IMF, of which only Rs 101 billion has been generated as of now.
PROFIT REPORT
SHAHZAD PARACHA
Ministry of Finance has re-advertised the post of President National Bank of Pakistan.
As per the details, the Finance
Division requires the services of a dynamic and qualified full time professional for the position of President/CEO NBP to be filled in accordance with section 11(3)(a) of banks (Nationalization) Act, 1974. Finance division has kept the min-
imum qualification of graduation or equivalent from a local or foreign institution recognized by HEC and candidates must be between 40 to 62 years of age on the closing date by February 24, 2023.
C ONTINUED ON PAGE 05
Pak Suzuki Motor Company has decided to increase the price of its entire motorcycle range. The new prices are as follows:
The price increase comes exactly two weeks after Suzuki announced its first price increase for its motorcycles, and a day after Suzuki announced an increase for its entire four-wheeler portfolio.
Speaking to Profit, Shafiq Ahmed Shaikh, Head of Public Relations at Pak Suzuki Motor Company, previously stated “It is a very very critical time for Pak Suzuki, its vendors, and dealers as all are disturbed due to no production and sales” in reference to the price increase across Suzuki’s fourwheelers.
“Due to current economic uncertainties, inflation in local as well as international raw and other materials cost, the volatile situation of forex, increase in utilities and overheads. This situation has made it very difficult for Pak Suzuki to hold the current selling prices. So, keeping in view we are compelled to pass on a very minimal portion of this adverse impact through price increase,” Shaikh continues when asked about the price increase.
Muhammad Sabir Sheikh, Chairman of the Association of Pakistan Motorcycle Assemblers (APMA), tells Profit that the increase is due to “A shortage of raw materials, no new L/C’s (letters of credit), the current devaluation, and production issues”. Sheikh also states that customers should brace for future price increases on the horizon as well due to the aforementioned factors he listed.
Suzuki has until December, the last month for which the Pakistan Automotive Manufacturers Association (PAMA) released industry sales data, been able to exceed its FY22 sales figures.
Suzuki’s 1HFY23 sales figures are at 3,312 compared to its 3,115 units sold over the same period last year.
Whether Suzuki’s motorcycle sales will continue to remain insulated from the upwards price revisions going forward will be interesting.
ISLAMABAD STAFF REPORT
Chief Justice of Pakistan (CJP) Umar Ata Bandial on Thursday observed that solution to all issues of the country lies in decision by the people while hearing PTI Chairman Imran Khan’s petition against amendments to the National Accountability Bureau (NAB) ordinance.
The three-member Supreme Court bench — headed by CJP Bandial and comprising –Justice Syed Mansoor Ali Shah and Justice Ijazul Ahsan — resumed hearing of the petition, terming new NAB laws “violation of fundamental rights”.
During the hearing, discussing the general elections, Justice Bandial said: “The solution of all issues of the country is only possible through the people’s decision. Eight months have passed since the incumbent government came to power.”
He referred to a prior ruling of the Election Commission of Pakistan (ECP) saying: “The ECP had stated in the speaker ruling case that they would be ready to conduct elections in November 2022.”
The CJP asserted: “The current parliament has been systematically kept incomplete. The legislation taking place in the current parliament is also becoming controversial [as a result].”
After hearing the arguments, the threemember bench adjourned the hearing till Feb 10 (Friday).
THE HEARING: Arguing that Imran did not have the right to lodge the petition, the federal government’s lawyer, Makhdoom Ali Khan, said: “The court should remain cautious about Article 184(3) of the Constitution.
“If the court suspends legislation over any petition under Article 184(3), the standard will drop. The authority of Article 184(3) exists in public matters.”
CJP Bandial responded: “The realities of the present case are different. The chief of the country’s biggest political party has challenged the NAB amendments.
“There is intense political tension and crisis in the country. The PTI first applied the strategy of leaving parliament. Then, it was not known why they decided to return to parliament.
The petitioner Imran Khan is no ordinary citizen. Even after leaving the government, he has enjoyed enormous public support.“
CJP Bandial stated that the judiciary did not want to meddle in the legislative either and that it had not taken notice itself but a petition had been filed. He highlighted that the court had rued its decision once before as well.
“Only one prime minister has come in Pakistan’s history who was considered very honest. One honest prime minister’s government was ended through 58 (2b). Article 58 (2b) was a draconian law. The court had said
in 1993 that the government was [sent packing] in the wrong manner but only elections should be conducted now,” the CJP said.
He added: “The PTI chief is not in the assembly and legislation like the NAB amendment is now becoming controversial.”
Justice Bandial asserted that it was not about Imran’s right to challenge the verdict, and he dismissed the same objection raised by the federal government’s lawyer.
Meanwhile, the government’s lawyer said: “The court has to determine what is the standard of cases regarding fundamental rights. Can anyone challenge legislation based on assumptions?”
Replying to this, the CJP reiterated that Imran was no ordinary man but “the chief of a huge political party of the country and was a former prime minister”.
Justice Bandial added: “His party decided to resign from the parliament due to political conflicts. His party then changed its
mind and now they want to return. But they are not a part of parliament right now. But parliament is there.
Remarking that corruption existed in the country since the “first day”, he recalled how an “extremely sincere prime minister’s government was ousted under Article 58(2b)”. The CJP highlighted that the judiciary of that time recognised the ouster as wrong but still allowed the elections to be held, facing “great criticism on its decision”.
Justice Bandial reiterated that the Chief Election Commissioner Sikandar Sultan Raja had assured him in November last year that the electoral body was “ready to hold elections any time”.
“Now, it is February 2023; the parliament’s period is till August. If this party could not raise an objection in the parliament on such a controversial amendment, then it is their privilege that they challenge it in the court,” he asserted.
PRICES RISE BY AS MUCH AS RS 41,000 IN SUZUKI’S DECISION TO INCREASE PRICES TWICE IN TWO WEEKS