Epaper_23-02-16 ISB

Thursday, 16 February, 2023 I 24 Rajab, 1444

OGRA notifies Rs2/KG hike in LPG price for current fortnight

Back to back price increases by Atlas Honda in February

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Profit

Intermarket Securities keen to acquire 51pc shareholding in EFG

Hermes Pakistan

caught between rock and hard place, govt imposes rs170b additional taxes

g New taxes iN liNe with reveNue collectioN target set by iMF to reiNstate prograMMe

president arif alvi.

according to the bill tabled in both, the upper and the lower house, the government has further increased rate of sales tax from 17 to 18 percent on other sales taxed items, including mobile phones, locally produced coal, potassium chlorate (explosives, fireworks, safety matches, and disinfectants), aerated as well as sugary drinks, air tickets. it has also imposed an advance income tax on the bills of weddings and gatherings, and a percentage of tax on the sale of the shares of a private limited company in the secondary market.

Cigarette prices to go up by over 250pc

Unleashing ‘mini-budget’, govt drops petrol, gas bombs on inflation-hit masses

ISLAMABAD

ahmad ahmadani

ISLAMABAD

shahzad paracha

aFtera deadlock in negotiations for over 5 months and a week worth of negotiations, the Federal government has surrendered before the international Monetary Fund (iMF) by imposing rs 170 billion in new taxes, on almost every already taxable item in the mini budget. the day started with the issuance of sro 179 (i), by the revenue division of the finance ministry, announcing an increase of 1% in the sales tax receivable on all the taxable items under subsection 1, section 3 of the sales tax act, 1990. this includes a range of taxable items including imported goods. according to one official, this includes almost every item except food and health and this will bring a new wave of inflation which has already neared 30 percent.

prior to that an increase in the FeD on cigarettes was also announced that is estimated to cause a 150% nominal raise in the FeDs on cigarette sales since last year. the government has increased more than 150 percent FeD on per stick cigarette from rs6.5 per cigarette to rs16.5. similarly, Fbr has also approximately increased FeD by 100%, per stick from rs2.55 to rs5.05 for less expensive brands. a revenue of rs. 115 billion is expected to be generated from the aforementioned steps. however, the government aims to increase its revenue by more than 170 billion, in accordance with the conditions that have been set by the iMF mission. therefore, for the remaining rs. 55 billion, the Finance (supplementary) bill 2023, was tabled in front of the parliament by the finance minister ishaq Dar. the decision to present the bill in front of the parliament was taken on the “advice” of the

The Finance (Supplementary) Bill, 2023: it is important to note that the political stakeholders were made party to the increase in only a handful of taxes, proportionally 32% of them through the aforementioned bill. the rest were enacted after the Federal cabinet’s approval, through sros.

in his speech at the National assembly, the Finance Minister ishaq Dar claimed that the new taxes were meant for high ticket items only however a strong case, contrary to that claim can be made.

in the bill, government has introduced new provisions in the sales tax act, 1990 with regard to collection of goods specified in the third schedule such as Fruit juices and vegetable juices, ice cream, aerated waters or beverages, syrups and squashes, cigarettes, toilet soap, shampoo, toothpaste, shaving cream perfumery and cosmetics, tea, powder drinks, Milky drinks toilet, shoe polish and shoe cream, cement sold in retail packing and a dozen items. according to the bill, the Fbr will issue a notification in the official gazette.

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hours after unleashing a tax-loaded ‘mini-budget’, the federal government late wednesday night jacked up the prices of petrol and gas to a historic high in a bid to appease the international Monetary Fund (iMF) for unlocking the critical loan tranche. after finding an advice from the petroleum Division, the oil and gas regulatory authority (ogra) notified a gas sale price hike from 16 to 113 pc for categories of gas consumers of sui Northern gas pipelines limited and sui southern gas company limited. according to ogra, the Ministry of energy (petroleum Division) on wednesday (15th February 2023) communicated the decision of the economic coordination committee, ratified by the Federal cabinet, in respect of gas sale price, effective January 01, 2023. and, ogra, after receipt of the said advice, has notified the sale prices against each category of retail consumers of natural gas. the said notification is available at ogra’s official website.

as per details, domestic category of gas consumers who use 100 cubic meters of gas will face 16.6% hike in the gas price as the new price of gas for such gas consumers has been fixed at rs 350

per Million british thermal unit while previously they were paying rs 300/MMbtu for using 100 cubic meters of gas in a month. similarly, gas price for the domestic gas consumers who use 200 cubic meters of gas has been jacked up by 32% and the new gas price for those domestic consumers has been set at rs 730/MMbtu while previously they were paying rs 553/MMbtu for using 200 cubic meters of gas. likewise, gas price for domestic gas consumers who use 300 cubic meters of gas has been increased by 69pc as the new gas price for those gas consumers has been fixed at rs 1250/MMbtu while previously they were paying rs 738/MMbtu for using 300 cubic meters of gas. For gas consumers who use 400 cubic meters of gas, the gas price increase is 99pc as the gas price for those consumers has been fixed at rs 2200/MMbtu while previously they were paying rs 1107/MMbtu for using 400 cubic meters of gas. Furthermore, gas consumers who use more than 400 cubic meters of gas, the gas price hike is 124pc as the gas price for such consumers has been set at rs 3277/MMbtu while previously they were paying rs 1460/MMbtu for using 400 cubic meters of gas.

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Mini-budget to open floodgates of inflation, price hike: Imran

Moments after the unveiling of the “mini-budget” by Finance Minister ishaq Dar, pakistan tehreek-i-insaf (pti) chairman imran Khan on wednesday blasted the coalition government, claiming he “foresees no change” in the country’s economic condition even if the incumbent administration were to fulfill the international Monetary Fund’s (iMF) demands.

During an address to the nation through a video link, the former prime minister said: “the mini-budget will lead to more inflation. there is no solution to pakistan’s problems except the fresh elections.”

seeking to fulfill prerequisites for unlocking the $1.1 billion iMF loan tranche, Finance Minister ishaq Dar introduced the Finance (supplementary) bill 2023 in both lower and upper houses of parliament.

imran Khan also lamented that the state of the economy since his government’s ouster was appalling. “in the pti

era, the probability of default was 5%, now we are at par with sri lanka, and pakistan has come significantly closer to defaulting.”

the deposed premier — who was ousted from the prime Minister’s office via a no-confidence move in april — also prophesied that adhering to washington-based lender’s conditions will not help pakistan’s ailing economy.

recounting the increased prices of medicines and utilities — many of which witnessed a whopping rise in their prices recently — due to recent inflation, he lamented: “the mini-budget will simply increase the burden on the masses.”

Khan further said that the mini-budget would lead to a hike in the costs of gas and electricity, and the current inflation was the highest the country has seen in 50 years.

“industrial production was increasing,” the pti chief added, “today it has turned negative as industries in Faisalabad have closed.”

he also came down hard on pDM leaders including Fazlur rehman and bi-

lawal bhutto, criticising them for holding marches against inflation during his reign, only to be compliant with the current government’s hikes.

the ex-pM also asserted that during the pti’s term in office, the National accountability bureau (Nab) had improved its performance.

“prior to the pti’s term, Nab used to recover rs160 billion, in our era they recovered rs480 billion. the current government, on the other hand, has gotten pardons in corruption cases worth 1,100 billion.”

commenting on the current state of the country’s economy, he said that the rupee had fallen by 90% against the dollar, while the gross Domestic product (gDp) and per capita income had also decreased.

“our reserves have fallen below $3 billion, putting the country’s security at risk,” Khan said, adding that the problem of the country’s economy could not be resolved merely by taking loans.

“the loans must also be returned.” he expressed his dismay at the hopes at-

tached to the iMF bailout package and said that the arrival of the funding would simply lead to the piling up of yet more loans. “even if iMF is accepted, pakistan will remain stuck in the quagmire.”

Furthermore, Khan slammed the government for failing to give a “road

map” on how to fix the country, and Finance Minister ishaq Dar for claiming he would bring the dollar down.

“instead, they have spent the last 30 years looting people,” he said.

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ISLAMABAD staff report

IMRAN SAYS PTI TO VOTE AGAINST FINANCE BILL IN SENATE

FORMER prime minister and Pakistan Tehreek-e-Insaf (PTI)

Chairman Imran Khan has castigated the incumbent government for presenting ‘minibudget’, saying that his party would vote against the Finance Supplementary Bill 2023 in Senate.

Speaking to foreign journalists at his residence in Lahore’s Zaman Park, the former premier said that the government would put more burden on inflation-hit people of Pakistan by passing ‘mini-budget’ from the parliament.

In response to a question, Imran Khan said that Finance Minister Ishaq Dar met President Dr Arif Alvi to seek the latter’s nod for an ordinance. “The president would not

be an obstacle on the finance bill,” he said, adding that his party would vote against the bill in Senate.

Referring to elections, the PTI chairman said that the incumbent government was violating the constitution as it was responsible to hold elections within 90 days of assembly dissolution. “We sacrificed our provincial governments for general elections,” he said, warning of default if elections are not held on time.

“These people [present rulers] are afraid that a government with public mandate will come into power,” Imran Khan said, adding that they were trying to arrest and disqualify him. He also warned to move court if the government violates constitution.

Imran Khan claimed that Pakistan Muslim League-Nawaz (PML-N) senior vice-president Maryam Nawaz and her

Sindh, Centre agree to settle issues of K-IV, RBOD-I, III, Hub Canal projects

KARACHI STAFF REPORT

Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Water Syed Khursheed Shah in their high power meeting have agreed to settle all the outstanding issues, including K-IV, RBOD-I and III, and Hub Canal projects amicably. The consensus was developed during a meeting attended by WAPDA Chairman Gen (retd) Sajjad Ghani, Secretary Water Resources Hassan Nasir Jami through video link, Joint Secretary Maher Ali Shah, GM North Masood Soomro, PD K-IV Aamir Mughal, Sindh Minister for Local Govt Nasir Shah, Minister for Irrigation Sindh Jam Khan Shoro, Sindh Chief Secretary Sohail Rajput, Chairman P&D Hassan Naqvi, Secretary Finance Sajid Jamal Abro, Secretary LG Najam Shah, Secretary Irrigation Sohail Qureshi and other concerned officers, said a statement issued here on Wednesday. The meeting was told that the Greater Karachi Bulk Water Supply Scheme K-IV Phase-I (260 MGD) was being constructed in Districts Malir and Thatta with the objective to provide a dependable and sustainable water transmission system from its more than 100 kilometers away source of Keenjhar Lake to three reservoirs around the city to feed Karachi Water Supply and Distribution Network. The Chief Minister said that the project would enable the water supply system to meet the public needs and requirements of commercial and industrial activities. He said, the water supports economic activities, alleviates poverty by flourishing the the existing and future industries in Karachi. He directed to expedite the pace of works on the project. Federal Minister Khursheed Shah said that his team had told him that there were some cases of land disputes under hearing in courts. At this, the CM directed the Chief Secretary to get all the issues of land and court cases cleared so that the work on the project could be accelerated. The CM Sindh was told that the tender for different components of the K-IV has been awarded and work is about to start. The meeting was told that the WAPDA had completed its work on Right Bank Outfall Drain-I & III in June 2020 but the project had yet to be taken over by the Sindh government.

social media team were putting pressure on the courts. “Maryam Nawaz has accused Chief Justice of Pakistan (CJP) Umar Ata Bandial of being biased,” the former premier added.

The PTI chief also criticized former army chief Gen (retd) Qamar Javed Bajwa, saying that fundamental rights were violated during Bajwa’s tenure.

“Bajwa had admitted that he toppled my regime,” Imran Khan said, adding that the former army chief also admitted to record audios and videos. “Tapping prime minister’s phone is a violation of the law”, he added.

Speaking of his meeting with Bajwa, he said he only discussed about immediate elections during the meeting, wherein President Alvi was also present. “He [Bjawa] even wanted to appoint Aleem Khan as Punjab CM,” he added.

ECP decides on seeking review of LHC ruling on Punjab polls

The Election Commission of Pakistan (ECP) has decided to “go for a review” of the Lahore High Court’s (LHC) order on holding general elections in Punjab.

Last week, the LHC had ordered the ECP to immediately announce the date for elections in Punjab while announcing its verdict on a plea filed by the PTI against the delay in holding polls.

The decision to seek review of the LHC ruling was taken in the ECP meeting chaired by Chief Election Commissioner Sikandar Sultan Raja to mull over high

court directions to hold Punjab Assembly elections within a period of 90 days.

The meeting was summoned by the Chief Election Commissioner in light of the LHC directives to hold Punjab Assembly elections within a period of 90 days.

Governor to move LHC for clarity over his role

Following the meeting with Election Commission of Pakistan (ECP), Punjab Governor Balighur Rehman has decided to approach Lahore High Court (LHC) to seek clarity over his role in the consultative process for announcing the election date in the province.

According to details, the Punjab Governor chaired

a consultative meeting with a three-member ECP committee to finalise the date for the provincial elections after Lahore High Court (LHC) issued order in this regard.

The meeting was attended by ECP Secretary Umer Hameed, Punjab Chief Secretary Zahid Akhtar Zaman, Punjab Inspector General of Police Dr Usman Anwar and other officials.

During the meeting, Governor Rehman said that there were some issues in the high court’s order that required “clarification and interpretation”. He said the court would be approached about the matter after consulting with constitutional and legal experts.

Indian lender HDFC’s biggest-ever bond issue to see strong demand – bankers

PROFIT REUTERS

The biggest-ever bond issue by India’s Housing Development Finance Corp (HDFC.NS) is expected to go smoothly without any major increase in interest costs for the financier as long-term investors will likely absorb the sale, bankers said.

HDFC aims to raise at least 50 billion rupees ($603.4 million) through the sale of 10-year bonds on Thursday, with an option to retain an additional 200 billion rupees.

If the company garners full the

quantum, this would also be the biggest-ever privately placed debt issue by an Indian company.

“(India’s) large state-run insurance and provident fund house have both likely committed (to invest) half the total amount,” one of the merchant bankers to the issue said.

“The remaining amount could be raised by tapping other investors and banks.” The merchant banker spoke on the condition of anonymity as they are not authorized to speak to the media.

HDFC may offer a coupon rate in the range of 7.96%-7.99%, bankers said. HDFC officials did not reply to a

Oil prices drop as US inventories jump fuels demand worries

PROFIT REUTERS

Oil prices extends losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and expectations of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession.

Brent crude futures slid 72 cents, or 0.8%, to $84.86 per barrel by 0442 GMT, while U.S. West Texas Intermediate (WTI) crude futures shed 68 cents, or 0.9% to $78.38.

U.S. crude inventories rose by about 10.5 million barrels in the week ended Feb. 10, according to market sources citing American Petroleum Institute (API) figures on Tuesday.

he build was much larger than the 1.2 million-barrel rise that nine analysts polled by Reuters had expected, potentially pointing to a

drop in fuel demand.

Gasoline stocks rose by about 846,000 barrels, while distillate stocks rose by about 1.7 million barrels, according to the sources, who spoke on condition of anonymity.

“The API data put mounting pressure on the oil market as this would be the eighth week of stocks building … Tepid demand in the U.S. market would continue to depress oil prices in the near term,” said analysts from Haitong Futures. Official government inventory estimates are due at 10:30 a.m. EST (0330 GMT) on Wednesday.

Meanwhile, a Federal Reserve official said on Tuesday the U.S. central bank will need to keep gradually raising interest rates to beat inflation after data showed that U.S consumer prices accelerated in January.

“We now expect the FOMC (Federal Open Market Committee) will extend tightening through Q2 and

Reuters mail seeking comment.

Axis Bank, ICICI Bank, HDFC Bank and ICICI Securities Primary Dealership are the arrangers for the bond issue.

FUNDRAISING BURST: HDFC has so far raised 534.14 billion rupees through private placement of bonds in the current fiscal, already the highest it has raised in any financial year.

If the issue goes through, HDFC’s fundraising would be higher by 50% as compared to 2021-22, when it had raised 500 billion rupees, according to data from information service provider Prime Database. The company’s

anticipate 25 bp (basis point) rate increases at the May and June FOMC meetings, in addition to the March hike that we already expected,” said analysts from ANZ bank.

Also weighing on crude prices was a U.S. Department of Energy (DOE) announcement this week that it would sell 26 million barrels of oil from the nation’s strategic reserve, which is already at its lowest level in roughly four decades.

Prices drew some support from the Organization of the Petroleum Exporting Countries (OPEC) raising its 2023 global oil demand growth forecast in its first upward revision for months, on China’s reopening, and trimmed supply forecasts for major non-OPEC producers, indicating a tighter market.

Global oil demand will rise this year by 2.32 million barrels per day (bpd), or 2.3%, OPEC said, raising the forecast from February by 100,000 bpd.

fundraising via private placement stood below 250 billion rupees in 2013-14. HDFC is raising funds as it would help them meet capital requirements after the upcoming merger with HDFC Bank, bankers said.

“It is comparatively easier for the NBFC to raise funds as compared to a bank fundraising, and hence HDFC, which has sufficient investor comfort, opted for such large size,” one of the bankers added. This could be the last issue from the company before the merger, which is likely to be completed in the next financial year, bankers added.

ECP protest: LHC adjourns hearing of Imran plea for protective bail till today

LAHORE STAFF REPORT

The Lahore High Court (LHC) on Wednesday adjourned hearing of a petition filed by Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan for protective bail, in a case registered against him over protests outside the Election Commission of Pakistan’s (ECP) office, till February 16. Justice Tariq Saleem Sheikh heard the petition filed by the PTI chairman for protective bail in the ECP protest case. During the proceedings, Imran Khan’s counsel requested the court to grant protective bail to his client on medical grounds, saying that an Islamabad anti-terrorism court dismissed his pre-arrest bail petition due to non-appearance. He submitted that the PTI chairman wanted to appear before the relevant court but the doctors had restrained him from walking for three weeks. However, the court observed that as per law, it was necessary for the accused to appear before the court for grant of protective bail, adding that if the PTI chairman had a problem, then he could come to the court in an ambulance.

ISLAMABAD STAFF REPORT

G20 HOST INDIA TO PROPOSE CHINA, OTHER CREDITORS TAKE HAIRCUTS ON LOANS

PROFIT REUTERS

INDIA is drafting a proposal for G20 countries to help debtor nations badly hit by the economic fallout from the pandemic and Ukraine war, by asking lenders including China, the world’s largest sovereign creditor, to take a large haircut on loans.

Two Indian government sources told Reuters of the proposal as finance ministers and central bank chiefs from the Group of 20 prepared to meet in Bengaluru next week. The gathering will be the first major event of India’s one-year presidency of the G20, a bloc composed of the world’s biggest economies.

The International Monetary Fund (IMF) said on Tuesday it would hold a virtual

meeting with the World Bank, India, China, Saudi Arabia, the United States and other wealthy Group of Seven (G7) democracies on Friday to try to reach understandings on common standards, principles and definitions for how to restructure distressed country debts.

“India is designing a proposal” to try to persuade countries like China to take a big haircut in lending to nations in difficulty, said one of the Indian officials, both of whom declined to be named as they were not authorized to talk to the media.

China and other G20 countries were aware that India was working on a proposal, the officials said. China’s Ministry of Foreign Affairs told Reuters on Wednesday it had nothing to share beyond spokesperson Wang Wenbin’s comment at

a news conference on Tuesday.

“China takes the debt issue of developing countries seriously and supports relevant financial institutions to put forward solutions,” he said.

“It is our consistent stance that multilateral financial institutions and commercial creditors, which hold the bulk of the debt of developing countries, should participate in the debt relief efforts.” The People’s Bank of China and the Finance Ministry did not immediately respond to requests for comment.

India’s finance and foreign ministries did not immediately respond to emails and messages seeking comment either.

New Delhi expects the United States to be one of the main backers of its proposal, said one of the sources. A spokesperson for the U.S. Treasury declined to comment.

U.S. Treasury officials have previously said that they are opposed to China’s demand that multilateral development banks also take haircuts on debt principal in any restructurings. It was unclear whether the Indian proposal would advocate multilateral lenders taking haircuts.

Two of India’s neighbours, Pakistan and Sri Lanka, are in economic crisis, and urgently seeking international help before they run out of foreign currency to pay for vital imports. India and the Paris Club of creditors recently told the IMF they supported Sri Lanka’s debt restructuring plan as the bankrupt nation sought a $2.9 billion loan. The United States said earlier this month it was willing to do its part too but that “we need to see credible and specific assurances that (China) will meet the IMF standard of

Cigarette prices to go up by over 250pc

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The industry sources believe the recent excise increases are detrimental to the legitimate companies’ survival as their sales decline; they are forced to shut down their manufacturing units and in some instances shut down their businesses from the country as well.

The government’s stance on the matter, however, has been consistent across political leaderships. Starting from 2018, “sin tax” was initially imposed on the consumption of cigarettes. The same stance has later been picked up in the times of a financial crunch.

As a product, the consumption of cigarettes results in huge sums of fiscal budget being allocated towards

health, however, as producers, cigarette manufacturers have been some of the biggest benefactors of the national exchequer. Being an addictive substance, the somewhat inelastic demand of cigarettes, allows the government to make these changes. But like most issues, the case of cigarettes is trickier than a sweeping aim of public well-being.

“In Pakistan’s case, with the recent excise increase, if legitimate companies are forced to close, the government will lose more than Rs. 150 billion per year of revenue, more than 75,000 jobs will be lost directly and indirectly and last but not the least the loss from evasion by the illicit sector will increase to hundreds of billions of rupees,” said an office bearer of a cigarette

Unleashing ‘mini-budget’, govt drops petrol, gas bombs on inflation-hit masses

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Gas price for commercial gas consumers has been jacked up by 28.6pc as their gas price has been increased from Rs 1283 to Rs 1650/MMBTU. For the power sector, the gas price has been increased by 22.8pc and the new price for the power sector has been fixed at Rs 1050/MMBTU while previously this sector was paying Rs 857/MMBTU. For the export sector, gas price has been increased by 34pc as the gas price for this sector has been increased from Rs 819/MMBTU to Rs 1100/MMBTU. The gas price for the Compressed Natural Gas (CNG) sector has been increased by 31pc as the gas price for the CNG sector has been increased from 1370/MMBTU to Rs 1800/MMBTU. For the fertilizer sector, the gas price has been increased by 46pc as the new gas price has been fixed at Rs 1500/MMBTU while previously this sector was paying Rs 1023/MMBTU. Gas price for the cement sector has been increased by 17.46pc as the new gas price for this sector has been increased from Rs 1277 to Rs 1500/MMBTU. It is pertinent to mention that this new massive gas price hike will be applicable from 1st January to 30th June 2023 while collection of Rs 50 per month from the protected category of domestic gas consumers while Rs 500/month from the non-protected domestic gas consumers has been notified by the OGRA.

producing company.

According to him, the government should first ensure that the measures being taken to counter illicit sector brands are firmly in place and are providing the right output e.g. track and trace has been implemented to counter illicit however, only 3 companies have implemented it, while 7 companies have gone to the court against it and the remaining have not implemented it on one pretext or the other.

Currently the legitimate sector holds 60 to 65% of the cigarette market share and pays more than 150 billion in taxes every year, while the illicit sector which holds 35 to 40% of the market share pays only Rs. 2 billion in taxes every year.

Mini-budget to open floodgates of inflation, price hike: Imran

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Khan further maintained that the only way out of the fiscal mess was fresh elections to bring in a public mandate and a government that the public trusted to make “difficult decisions.”

MPs up in arms against mini-budget: PTI dissident MNA Noor Alam Khan also expressed his reservations with the ‘mini-budget’ on the floor of the National Assembly, claiming that a hike in power tariff would be too much for the inflation-hit people. “Medicines have become expensive,” he lamented. “Those that once cost Rs15 medicine will now cost Rs100.”

Taking issue with the matter of power hikes, he further urged the house to “stop giving free units of electricity”, adding that “1,300 units of free electricity are given to officials” of the Water and Power Development Authority (WAPDA) while poor people are forced to pay bills. “WAPDA officers are being given huge salaries, cars, and numerous other benefits,” he said. “People are fed up with loadshedding while

officers enjoy sitting in air-conditioned rooms.” He also lambasted the coalition government for claiming it would pardon debts. “Why they did not forgive the debts of the flood victims?” he questioned, adding that it was a gross injustice that only slogans were reserved for the poor. Furthermore, Noor called tax collectors “thieves” and declared: “If you tax people, you must give them some facilities as well.” Demanding that institutions and their spending be reined in, the lawmaker said: “Smuggling is carried out through green channels. We must look into where the Afghanistan dollars going.” For his part, Jamaat-e-Islami (JI) MNA Maulana Abdul Akbar Chitrali, while speaking on the floor of the house, criticised Foreign Minister Bilawal Bhutto-Zardari for travelling with protocol despite the PDM government’s cries for “simplicity.” However, National Assembly Speaker Raja Pervaiz Ashraf interrupted him and said: “You cannot make speeches here, only discuss the point of objection.”

debt relief”.

The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure an IMF programme, which a Sri Lankan government source said was not enough.

The IMF, the World Bank and the United States have pushed for the so-called Common Framework – a G20 initiative that was launched in 2020 to help poor countries delay debt repayments – to be expanded to include middle-income countries but China has resisted.

In December, World Bank President David Malpass said the world’s poorest countries owed $62 billion in annual debt service to bilateral creditors, a year-on-year increase of 35%, triggering higher risk of defaults.

Int’l airlines ditch local travel agents to circumvent govt restrictions

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Both travel agents, who agreed to give their remarks on the guarantee of anonymity, gave us reassurances that they had access to the lower fares available on the website, and that we would not have to use our credit cards. They stated we could pay them in cash, bank transfer, and/or cheque, and they would then authorise the transactions through their branches in Australia or England.

What are the ramifications of Emirates Airline and Turkish Airways?

“These are two very large, and important players. Their actions set a precedent for others to follow,” said one of the two travel agents. The travel agents’ views are pertinent, given that Turkish Airways, and Emirates jointly catered for 1.97 million passengers between July 2021, and June 2022, based on the latest available statistics provided by the Pakistan Civil Aviation Authority. Independently, Emirates was the largest foreign airlines, and Turkish the third largest foreign over the aforementioned time period.

“This will destroy travel agents in Pakistan. If the payments are being abroad, then what is the point of travel agents conducting their business here?,” says Rizvi. “What will likely happen is that those of us with big enough credit cards, will just provide access to our credit cards as a service then. The people basically just want a service, the government instead needs to engage in more concrete efforts with the airlines,” Rizvi continued.

Caught between rock and hard place, govt imposes Rs170b additional taxes

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According to the Finance supplementary bill, the government has increased sales tax from 17 to 18 percent on locally produced Coal, a subsequent impact of which is bound to be seen in commodity prices.

Energy minister Khurram Dastagir told the media yesterday that Pakistan plans to increase domestic coalfired power capacity to 10 gigawatts (GW) in the medium-term, from 2.31 GW currently.

Apart from this, the government has already increased electricity prices under the circular debt management plan to curtail mounting circular debt worth of Rs 952 billion.

In addition, the government has also increased tax from 17 to 18 % on Potassium Chlorate which is used in products such as explosives, fireworks, safety matches, and disinfectants.

According to the Finance supplementary bill, the government has also increased sales tax from 17 to 18

and 25 percent on different categories of mobile phones.

The FBR will charge 18% sales tax on CBUs mobile phones exceeding $ 200 but not exceeding $ 350. Similarly, the FBR will also charge 18% sales tax on CBUs mobile phones ranging from $ 350 to $ 500. The sales tax rate on mobile phones exceeding $ 500 shall also charge 25% from 17%.

In another amendment, The government has also inserted a new section by amending income tax ordinance with regard to acquiring a capital asset.

Explaining the new insertion, one official said that the government has imposed 10 % tax on the sale of Private Limited Company’ further shares into third persons, other than the public listed companies.

According to the bill, the government has also imposed 10 % advance tax on the total amount of the bill from a person arranging or holding a function in a marriage hall, marquee, hotel, restaurant, commercial lawn and club.

Explaining this section, officials in the FBR said that the government has restored the advance tax on functions and gatherings besides widening the definition of functions.

Functions include any wedding related event, a seminar, workshop, a session, an exhibition, a concert, a show, a party or any other gathering held for such purpose. On the other hand, officials explained that the government has increased FED from thirteen to twenty percent on aerated drinks such as Coca Cola, Pepsi and others. Meanwhile, the government has also imposed a 10 % FED on the retail price of sugary fruit Juices. Furthermore, the government has also increased Rs50,000 FED per ticket on international flights (other than economy class) issued on or after the date of commencement of the Finance (supplementary) bill 2023. nflation expectations, higher than targeted: Pakistan is yet to recover from the cost push impacts of inflation that were observed due to the

sudden devaluation of rupee against the dollar. The monetary policy has consistently been working towards targeting inflation however, the inflation expectations of the country have become even harder to tame, following the announcement of the “mini-budget”.

Senior economist Katrina Ell of Moody’s Analytics told Reuters on Wednesday, “Our view is that an IMF bailout alone isn’t going to be enough to get the economy back on track. What the economy really needs is persistent and sound economic management”. She further stated that, “There’s still an inevitably tough journey ahead. We’re expecting fiscal and monetary austerity to continue well into 2024”.

While the IMF bailout package is necessary to stay afloat for Pakistan, the taxations like aforementioned ones, and power hikes are going to have a detrimental impact on the CPI inflation of the country. A figure that might remain in the 33% ballpark according to Moody’s analytics. As of January, inflation in Pakistan was recorded at a little over 27%.

UMAR ACCUSES ECP OF ‘ACTING LIKE POLITICAL PARTY’

Pakistan Tehreek-e-Insaf (PTI) Secretary General Asad Umar on Wednesday accused the Election Commission of Pakistan (ECP) of “behaving like a political party,” saying he had instructed his lawyers to withdraw a reply he had submitted to the ECP.

Umar’s ‘clarification’ came in response

to media reports, purporting he has submitted apology to the ECP.

Addressing a press conference here on Wednesday, the PTI stalwart clarified that he had not apologized and stood by his belief that the “ECP was acting as a political party.”

PTI leader said that he had instructed his lawyers to withdraw his response, adding that the ECP was not authorized to impose

contempt on anyone.

Umar also criticized the previous government and its handling of the finance ministry. He claimed that former finance minister Ishaq Dar had removed Miftah Ismail from the ministry and that the result was a downgraded credit rating and soaring inflation.

Umar also accused the current government of trying to bypass the constitutional

process in an attempt to tax people through an ordinance. He claimed that the ordinance was intended to defame President Dr Arif Alvi – who is from PTI – and accused the government of attempting to violate the Constitution. Umar asserted that they would “drag the rulers to the election” and called on the Chief Election Commissioner to not be a part of any conspiracy to sabotage the Constitution. Last Friday, the Lahore High Court (LHC) ordered an election to be held within 90 days.

Umar criticized the ECP for consulting the governor four days after the order was issued and accused the Chief Election Commissioner of making a mistake by being a part of a conspiracy to

subvert the Constitution. He claimed that a systematic campaign was being conducted against the judiciary and stated his belief that democracy and the Constitution would remain intact.

NAB summons Buzdar with property details today

The National Accountability Bureau (NAB) on Wednesday summoned former Punjab chief minister Sardar Usman Buzdar with documentary evidence of property detail and sources of income on Thursday (today).

The NAB Lahore chapter has asked the former chief minister to turn up to the anti-corruption watchdog office with documentary evidence of property detail and sources of income.

Earlier, the NAB had apprised the Lahore High Court that it had decided to close the inquiry against Usman Buzdar in a case involving issuance of a liquor licence. The development came when a two-member bench of the LHC, headed by Ali Baqar Najafi, was hearing a petition filed by a private hotel. NAB’s prosecutor apprised the

bench that the anti-graft watchdog’s regional board had sent its recommendation to the body’s chairman to end the inquiry against the former chief minister. Ajaz Awan, the counsel of the private hotel informed the judges that a high court’s single-judge bench had declared issuance of the license in accordance with the law.

The lawyer was of the view that an inquiry without any aim has been carried out for the past three years and pleaded with the court to close the investigations. “Under the NAB amendment law, this inquiry cannot continue,” argued the lawyer. In light of the NAB’s response, the court wrapped up the case. It is pertinent to mention here that the former Punjab chief minister was facing NAB investigations for issuing a liquor licence to an under-construction hotel in violation of the law.

Regime change conspirators lead nation to economic ruin, fascism: Mazari

Pakistan Tehreek-e-Insaf (PTI)

Senior Vice President Dr. Shireen Mazari said that like thieves in dark of night, they toppled the PTI elected government through regime change conspiracy and led the nation to economic ruin and fascism.

In a statement on Wednesday, PTI Senior Vice President said that like thieves in dark of night, they toppled an elected government through regime change conspiracy abetted as admitted now by one of those who can’t be questioned and blessings of US. She said that their incompetence and fear of elections leading nation to econ ruin and fascism.

Is that Conspirators design? Regarding denying media coverage to the court’s proceeding of PTI Chairman Imran Khan’s case, she asked that what was there to hide that media coverage was being denied? “The public has a right to know what legal grounds this case is actually proceeding along,” she added. Dr. Mazari went on to say that especially given the conspiracies and

sham cases devised to try and remove Imran Khan from politics so fearful are regime change Conspirators. About the PAEC ad in print media, she raised question that why would PAEC put out the ad in the print media when every government organization should be practising austerity? “Sycophancy is not needed as Pakistan has always abided by its IAEA commitments. We even went beyond when we sent our centrifuges to IAEA, which should not have been done. Appeasement of US,” she added.

Two-day Pak Pharma and Healthcare Exhibition kicks off

LAHORE

SHAHAB OMER

The Pak Pharma and Healthcare Expo (PPE) commenced at the Lahore Expo Center on Wednesday, 15 February 2023, with the support of the Pakistan Pharmaceutical Manufacturers Association (PPMA). The mega pharma event, organised by the Prime Event Management, is being participated by over a 100 companies, including a few foreign ones. This is the second pharma expo in Lahore ever since pandemic.

The exhibition was inaugurated by

Ethiopian Ambassador HE Jamal Baker, Honorary Consul General Ibrahim Tawab, CEO Shazo Group Mian Asad Shujaur Rahman and Director Prime Event Management Kamran Abbasi. Representatives of participant companies were also present for the occasion.

Kamran Abbasi, the organiser of the exhibition, gave the chief guest Mr Baker a tour of the stalls. The efforts of the organisers, along with the quality of Pakistani products, especially medicines and equipment were highly appreciated by Mr Baker.

ISLAMABAD STAFF REPORT

IAEA InTEnds To ExpAnd coopErATIon wITh pAkIsTAn: dG rAfAEl GrossI

ISLAMABAD

Staff report

dIRECTORGeneral (DG) of the International Atomic Energy Agency (IAEA), Rafael Mariano Grossi Wednesday said that the IAEA intended to expand cooperation with Pakistan in different fields, especially in its efforts to provide latest treatment facilities to the cancer patients.

He was speaking during the inauguration ceremony of the latest Cyberknife facility at Pakistan Atomic Energy Commission (PAEC)’s flagship cancer-care hospital in the capital, namely Nuclear Medicine, Oncology and Radiotherapy Institute (NORI).

The IAEA DG was accompanied by PAEC Chairman Dr Raja Ali Raza Anwar.

Speaking on the occasion, the IAEA DG hoped that the newly inaugurated Cyberknife facility was multiplying theuropic capacities in Pakistan to treat

the cancer patients.

He said that the IAEA had launched a global programme called Rays of Hope more than a year ago, which was aimed at increasing the availability of radiotherapy facilities in particular in the developing countries, with a huge deficit in this area.

Rafael said that Rays of Hope project was aimed at bringing radiotherapy facilities for those who did not have it. “Pakistan has top notch facilities in NORI and wonderful professionals to treat cancer patients while many other countries lack such facilities”, he said adding, “This hospital in Pakistan is equipped with the latest technology and has the potential to even extend this facility to the other countries.”

Referring to the example of Africa, he said that 70 percent population in that country lacked access to the radiotherapy facilities.

“Although we have been focusing on COVID-19 pandemic in the past but cancer is one of those diseases which are tremendously affecting largest popula-

political parties, institutions jointly devise action plan for pakistan: fawad chaudhry

LAHORE

Staff report

Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry on Wednesday has said that state institutions and political parties should give space to each other to take the country ahead and the political parties and the establishment will have to devise an action plan together to bring the country out of political and economic crises. According to the details, while talking to media in Lahore alleged that Maryam Nawaz’s media cell is running a systematic campaign to malign the judiciary and has been threatening the courts continuously but no notice is being taken of her blaming remarks.

He further said that today is the fifth day, but the court order regarding the date of the election has not been complied with by the government. He warned that if the courts and the constitution are not respected then Pakistan will become a “Banana republic”. Fawad blamed the Election Commission of Pakistan (ECP) has been maintaining its tradition of not following the culture of compliance.

He demanded, “Our dignity must be taken into account because PTI holds a Court order for the announcement of the election date and those who do not uphold the sanctity of their oath are not respected anywhere”. Earlier, Fawad Chaudhry said that the “Jail Bharu movement” can be started at 24 hours’ notice, and thousands of PTI workers including leadership are ready to offer their respective arrests in the “Jail Bharu movement”. In this regard, the preparations have been finalized and the announcement may be made within a couple of days.

He added that the Supreme Judiciary is being criticized under a big conspiracy and he demanded the governors of Punjab and Khyber Pakhtunkhwa should immediately resign from their posts.

While Asad Umar said that several days have passed since the decision of the Lahore High Court. The court clearly ordered that elections should be held within 90 days but the governor has not yet announced the election. He further said that the whole nation has been watching the imported government running away from the election. They are breaking the constitution for getting an escape from the election. He said t”we had informed the nation about this fear that the government and its sympathizers did not want to conduct the election in any case.

tion globally. IAEA is trying to correct such imbalances to improve the healthcare facilities in the world”, he added.

He acknowledged the contribution of the team of the NORI hospital especially a good number of women professionals who are doing immensely excellent job in providing state of the art treatment facilities to the cancer patients and hoped that “We intend to further increase our cooperation in future.”

He also highlighted the IAEA’s assistance in strengthening cancer hospitals in developing countries to provide treatment to patients at par with international standards.

The DG IAEA was also briefed about the role of Pakistan Atomic Energy Commission’s 19 cancer hospitals established in all provinces of Pakistan that are shouldering the responsibility of diagnosing and treating over 80 percent of the country’s cancer-affected patients in line with the IAEA’s slogan – ‘Cancer Care for All.’

“I am glad to see latest facilities at the Commission’s NORI hospital. I am pleased to see a lot of women working in NORI in field of nuclear oncology”, he said. With the inauguration of this facility, NORI became the first public sector cancer hospital of the country to provide cyberknife treatment.

During his stay at NORI hospital, he visited various departments and facilities and appreciated the services of the 19 PAEC cancer hospitals, especially NORI, in diagnosis and treatment of cancer in line with the IAEA’s ‘Rays of Hope’ initiative.

It is to mention here that ‘Rays of Hope’ focuses on prioritizing a limited number of high-impact, cost-effective and sustainable interventions in line with national needs and commitment.

The initiative aims at contributing to the fulfillment of the 2030 Agenda and the Sustainable Development Goal-3 (SDG3) i.e. Good Health and Well-Being.

China-Pakistan coop on renewable energy paves way for sustainable development

As a country in transition, Pakistan faces various challenges and needs to quickly find solutions to energy supply and cost issues in order to achieve stable development.

China-Pakistan cooperation on power grid upgrading and renewable energy technology is offering green solutions for sustainable development in Pakistan.

The above views were expressed by Dr. Hassan Duad Butt, Senior Advisor, Sustainable Development Policy Institute (SDPI) in a recent interview with Gwadar Pro.

During the SDPI roundtable discussion on “Wheeling Reform for Offtake of Renewable Energy” option and challenges held recently, he stated that renewable energy including wind, solar and hydropower provides high-quality and cost-effective impetus for in-

dustrial development in Pakistan. However, novel energy initiatives and projects are complex, risky and time-consuming.

He added that, “industrial development is imperative for future employment opportunities and enabling industries for power access, and initiatives such as power wheeling are a must.

To address the headwinds, an integrated and synergistic approach needs to be taken by introducing a development system suiting local cultures and environments.”

Ahad Nazir, Head of Centre for Private Sector engagement, SDPI, highlighted that little attention has been paid to reducing losses in electricity distribution and transmission in Pakistan for a long time.

China has one of the best infrastructure systems in the world and has partnered with Pakistan on the Matiari-Lahore HVDC project.

In the long run, Pakistan should move from being a technology user to a technology developer.

“It is necessary to improve the manufacturing technique in Pakistan. So far, we have installation capacity, and the main focus with respect to wind energy should now be to manufacture equipment locally,” Ahad added, “building towers and warehouses locally is also a good intervention to reduce import and logistics costs.”

Under the revised RE policy, the government of Pakistan aims to derive 60 percent of its energy from renewable sources, including hydro, by 2030, which will wean Pakistan off imported fuel products.

Ahad explained that “we need to adopt energy storage technology and hydrogen fuel and ethanol. These are the things that are less damaging than fossil fuel and still they can ease our journey to renewable energy sources.”

Sherry Rehman for joint efforts to deal with multifaceted impacts of climate change

KARACHI Staff report

Federal Minister for Climate Change, Sherry Rehman, on Wednesday stressed on collaborative efforts to deal with multifaceted impacts of climate change and urged investors to invest in climate resilient development projects.

She was addressing inaugural session of 6th edition of ‘The Future Summit’ held here under the theme of ‘Prepare for Disruption’ for discussing challenges being faced by Pakistan and deliberates upon the future footprint and required readiness to deal with them.

The 2-day summit was being jointly organised by Nutshell Conferences Group and Engro Corporation

in collaboration with Overseas Investors Chamber of Commerce and Industry (OICCI) and Habib Bank while a large number of business delegates from Pakistan and abroad, as well as the Pakistani diasporas from all over the world is taking part in the moot.

Sherry Rehman highlighted that Pakistan was facing multifaceted issues like terrorism on borders, economic challenges and above all serious implications of climate change and multi-pronged strategies besides investment of billions of dollars were required to deal with the situation.

She termed record breaking rains and floods as a wake up call from nature which affected millions of people and a vast area of the country and said that nothing was going back to be normal as it was not a business as usual.

Consumers rejects ‘mini-budget’, hike in power, gas tariffs

PESHAWAR

aziz Buneri

The public rejected increase in sales tax in “mini-budget” and hike in electricity and natural gas tariffs and demanded the federal government to immediately withdrawal the decisions.

Mohammad Ishaq, President of Sarhad Chamber of Commerce, rejected the mini-budget, warning the the people would suffer more as increase in sales tax will push a direct pressure on common men. He further said that along with increase in sales tax, prices of basic food items will increase. He added the con-

sumers would also not be able afford the increase in electricity and gas bills in the current situation.

According to Asmat Ali a citizen of Peshawar High inflation h already reduced the purchasing power of common men and more hike prices of petroleum products would trigger in another wave of price-hike. According to Ismat, hoarders have increased rates of basic commodities and after the implementation of “mini budget” by the federal government the prices would increase further.

On one hand government has failed to tame high inflation, on the other hand, unemployment is on the rise due to which

th number of people below the poverty line has increased. Naseem Jan, a businessman from Peshawar, said that traders are also facing difficulties due to federal government’s mini-budget. “During the last two weeks, the prices of commodities have increased by 10 to 15% in talks with IMF,” Jan said. He further said that, the government has imposed a ban on LCs, due to which there is high demand for commodities against low supply. He said due to the lack of raw materials, factories have also stopped production. He said, “Due to increase in sales tax rate, the reduction in purchasing power of the people will also cause dif-

ficulties for the big businessmen.”

According to Naseem, after the increase in gas and electricity prices by the federal government, the inflation rate from the mini budget will reach 35% by June. “The crimes rate will increase and will be pushed towards civil war,” Naseem added.

To increase tax revenue, as par agreement with International Monetary Fund (IMF), the government has increased the sales tax rate on various goods and services from 17 percent to 18 percent. The government will generate an additional 55 billion rupees by raising the general sales tax from 17 percent to 18 percent.

on topic of "Ethical decline in educational institutions, who is responsible?" at Hamdard Naunehal Assembly at Baitu Hikmah in Karachi. Prof Dr Shabibul Hasan, VC, Hamdard University, Registrar Kaleem Ahmed Ghiyas is also present on this occasion. pr

Tax hike for Tobacco companies to favor illicit cigarette manufacturers

The proposed unprecedented tax hike for the taxpaying tobacco companies will effectively favor the already vast illicit cigarette manufacturers in Pakistan. This will also lead to significant shortfalls in Government revenue as the volumes will massively shift from the tax-paid sector to the non-tax-paid sector as often seen in the past, “Said spokesperson Philip Morris Pakistan Ltd”. pr

6th Edition of The future summit kicks off

karachi: The 6th Edition of The Future Summit kicked off with a full house at a local hotel in Karachi. The event opened with a welcome address by the Founder and CEO, Nutshell Group, Muhammad Azfar Ahsan. He insisted that platforms like TFS are to build the pressure on the concerned stakeholders to be united for the sake of Pakistan. He further added that our foreign policy should be based on the economic interests of the country. pr

daraz marks partnership with pcB; gears up to stream hBl psl 2023

karachi: As the HBL Pakistan Super League (PSL) goes live to grip cricket lovers across Pakistan, Daraz and Pakistan Cricket Board held an event at the National Bank Cricket Arena in Karachi to celebrate two years of their successful partnership. Last year, Daraz won PSL's exclusive digital streaming rights for the 2022-2023 seasons, which resulted in over 180 million accumulated views over the first season and allowed Pakistanis to watch the popular league free of cost on their smartphones. pr

ISLAMABAD Staff report

Commander US NAVCENT Vice Admiral Brad Cooper called on Chief of Naval Staff Admiral Amjad Niazi. pr

Sindh CM Murad Ali Shah and Naval Chief Amjad Niazi handing over ‘Best Stall’ Award to Ahmed Mamoor Amimi Founder and President of Pakistan Boat Rally Association at PIMEC Gala Dinner. pr

President Hamdard Foundation Ms Sadia Rashid speaking

Judgements alone should speak

ThAT the Senate erupted because of the remarks by the Chief Justice of Pakistan was perhaps inevitable, for it was too much to expect public representatives to eschew comment on what appeared as a criticism of them. The Senate’s criticism of the remarks by the Chief Justice of Pakistan, Mr Justice Umar Ata Bandial, was met by a clarification by the Attorney General backed by the Law Minister. This in turn was roundly criticised by some Senators, who wondered why the clarification had to come from the Attorney General, and not from the Supreme Court itself, perhaps through its Registrar. The episode showed the dangers of violating the prohibition by the Constitution of Parliament discussing the judiciary, including the conduct of the judiciary.

It was perhaps naive to expect all members of Parliament to ignore what the CJP said. As the CJP’s remarks seemed to indicate that the PTI was about to get the relief it wanted, and have the NAB law restored, it was too much to ask politicians to ignore the partisan angle. The CJP should also not have ignored that the judiciary, led by the Supreme Court, is suspected by many of going easy on the PTI. however, the CJP should have kept in mind the maxim that judges should only be heard through their judgements, and they should allow those judgements speak for themselves. There is nothing wrong with obiter dicta, remarks which are made from the bench, as judges must be able to ask lawyers arguing before them to clarify questions on their minds, but judges must be careful in this respect, and must express themselves fully in their written judgements.

The present episode has got a background, but it should have been avoided, had two pillars of the state, the judicial and the legislative, both remained within their limits. There is no real way of making either do so. If a presiding officer allows a member to bring up a subject, there is nothing to stop him from doing so. If a judge chooses to say something controversial while sitting on the bench, there is equally nothing to stop him. however, both are subject to the same court, that of public opinion. Neither should forget that that is the ultimstre court they must answer to.

Ministers, heal thy ministries

Reform needs changes in the colonial-era laws

President Bill Clinton of the USA, on his visit to Israel for peace negotiations, desired to land in the common city of Jerusalem, instead of Tel Aviv, the capital of the Jewish state. his head of security advised him otherwise. Clinton held his ground, he issued clear orders for preparation of sound plans for his safety in case of inability to do so, a change of the security team was ordered. The President landed and returned safely as required by him, not his subordinates.

In the 1970s when Pakistan was under civilian rule, the Police force in Punjab and KPK (then NWFP) decided to go on strike. The two young governors (Mustafa Khar, hayat Muhammad Sherpao) held their ground. A 24-hour ultimatum was served to the strikers, either to return to work or face dismissal. The entire force was back in no time.

The ex-Interior Minister is currently facing Draconian and Sub-human internment at the hands of the same state apparatus that was once under his command. It reminds Mr of the famous Biblical quotation, “Physician, heal thyself”.

Unfortunately, in the land of the pure the ‘doctors’ are unable to control the disease that ails the nation. To erase colonialism has never been easy for colonized nations. The people and their leaders continue to be held hostage by these exploitative mechanisms, left behind by the colonialists.

After getting rid of the Crown, the Americans scrapped everything British, there was a total disconnect from the past. Instead of driving on the left like their foreign masters, they chose the right side. Laws and administrative mechanisms were rebuilt to serve not to rule. In the UK land belonged to the King, while in the USA the ownership was transferred to the people. every citizen was allowed to claim one square mile of unattached state land under ‘Law of homestead’.

The right to bear arms was also recognized, no arms licenses were required by the people. Unhindered right to travel was also accepted as the right of the citizen. Till today no exit stamp is needed to leave the country, only an airline ticket is required. It was unhindered freedom.

Patrick henry said; “ Give me liberty or give me death “. his words are inscribed on the Statue of Liberty at ellis Island that welcomed those who sailed for freedom braving the rough sails of the Atlantic Ocean.

Lalu Prasad Yadav was Minister of Railways in India. he had no formal education yet he was able to turn around the Indian Railways. Relief to the public was his approach. In every case that was sent to him; justification was required to include public welfare. If fare increase or pay raises were asked for, he demanded additional facilitation for the travellers.

Quality management demands customer satisfaction. For any organization to exist and flourish it must identify and then serve its customers. Yadav introduced customer focus and turned around the massive railway network of the country into a formidable service.

The right to travel was recognised during this period. Major reforms were introduced in the Passport Directorate. A manual National Identity Card scheme was introduced for identification on the basis of which passports were issued to applicants.

Pakistanis left in droves and today are the major source of foreign exchange remittances to their motherland.

There can be no compromises on freedom. Over two centuries ago clear lines were drawn by the Americans; “Liberty or death.” There is no middle ground. The first line in my father’s do and don’ts reads; “No compromises, do not fear confrontation”.

In 1976, I applied for my first passport as I wanted to proceed abroad for higher education. The entire process was completed through mail. After 15 days I received an intimation to collect my document. The legendary Khan Qayyum Khan was then the Interior Minister. he personally supervised implementation of the new policy. Those who came in the way were removed. Solid relief was delivered to the public.

In our case the citation should be ‘Minister, heal thyself’. every ministry should be tasked to develop SOPs to provide relief to the public. Those who come in the way should bite the dust. All colonial-era antipeople laws should be scrapped. Arrest without war-

rants should become a punishable offence. The Police force is beyond redemption, it needs to be raised again especially in Punjab. My friend from Rawlapindi, Sheikh Rashid Ahmed, has been a federal minister a record 16 times. Currently he is behind bars while his Lal haveli has been sealed by the evacuee Trust Property Board. he is certainly in a good position to suggest reforms in each one of the ministries that he has headed in the past. To give him some credit as Minister of Railways he did work hard for the much needed ML1 project under CPeC which has since been installed. My late father Nazir Ahmed Malik was a worker of the Pakistan Movement. Till his last breath he went down fighting for freedom which he considered incomplete even after the so-called independence in August 1947. Pakistan is at the crossroads again after 75 years of its existence.

The colonial dystem that we inherited was designed to rule not to serve. The evilness and inertia of the set-up has always been underestimated by the freedom warriors of our times. Despite tall claims of reforms, not much has changed. Infact there has been an unprecedented decline in the state apparatus since July 1977 after the civilian rule was toppled by the third usurper. There can be no compromises on freedom. Over two centuries ago clear lines were drawn by the Americans; “Liberty or death.” There is no middle ground. The first line in my father’s do and don’ts reads; “No compromises, do not fear confrontation”.

“Pakistanis heal thyself” before the pandemic of slavery consumes our freedom and future. ministers must take control of their ministries to provide relief to the public. Colonial era handcuffs have to be removed through reforms of the Criminal Codes, not public display on the electronic media.

The writer is ex-Chairman, Pakistan Science Foundation. He can be contacted at: fmaliks@hotmail.com.

Open access and open educational resources

The digital age brings new sources of educational materials

(1) Cost savings: OeRs can significantly reduce the cost of educational materials for students and schools, making education more accessible and affordable.

(2) Improved educational quality: OeRs can be updated and improved by anyone, leading to a more dynamic and up-to-date educational experience

(3) Flexibility: OeRs can be adapted to the specific needs of a particular class or student, allowing for a more personalized learning experience

(4) Increased access to educational materials: OeRs can be accessed by anyone with an internet connection, regardless of location or financial means, helping to reduce the digital divide and promoting equal access to education

The Internet has brought tremendous revolutions in our daily lives. Gone are the days when people spent most of their time in libraries. There is a huge rise in Open Access and educational resources. A question, however, arises in most minds. What is Open Access? Open Access (OA) refers to making scholarly research and literature freely available on the Internet, allowing anyone to access and use it without barriers such as paywalls. The goal is to increase access to knowledge and promote its dissemination and use for the public good.

Open Access Resources (OeR) in education refer to teaching, learning, and research materials that are freely available for anyone to use, modify, and distribute. This includes textbooks, videos, tests, and other educational materials that can be used in a classroom or for self-directed learning. OeRs aim to make education more accessible and affordable by reducing the cost of materials for students and teachers.

In the educational scenario, Open education Resources (OeRs) have undergone various benefits; some of the benefits are

(5) Collaboration: OeRs encourage collaboration and sharing of educational materials, fostering a sense of community and promoting the exchange of ideas.

(6) Improved student outcomes: OeRs have positively impacted student performance and engagement. In short, we may say that OeRs have the potential to transform education and make it more accessible, flexible, and effective for everyone.

Numerous OeRs are available on the Internet; some popular websites include

(1) OpenStax: A nonprofit organization that provides peer-reviewed, open-source textbooks for college and high school courses

(2) Project Gutenberg: One of the oldest digital libraries, offering over 60,000 free eBooks.

(3) Khan Academy: A nonprofit educational organization that provides free online courses and resources in various subjects.

(4) OpenSesame: An online marketplace for buying and selling e-learning courses, with free courses available

(5) MERLOT: A multi-disciplinary collection of online learning materials and resources, including course

materials, multimedia, and assessments.

(6) MIT OpenCourseWare: A free and open digital publication of high-quality educational materials from the Massachusetts Institute of Technology.

(7) Open Education Consortium: A global network of institutions and organizations committed to advancing open education and offering free educational resources and courses.

(8) OER Commons: A digital library and network for educators, students, and researchers to find and share open educational resources

(9) PDF Drive: An online free library that offers millions of books and articles. These are just a few examples of the many sources of OeRs available online. By using OeRs, educators and students can access high-quality educational materials at no cost.

In Pakistan, most people rely on Open educational Resources (OeRs) because people need more time to visit libraries. Several websites promote educational resources free of cost for the students; some popular websites are given below:

(1) Digital Study Hall (DSH): A nonprofit organization that provides free, web-based learning resources for students in rural areas of Pakistan.

(2) Punjab OER Initiative: An initiative of the Government of Punjab aimed at promoting the use of OeRs in schools and colleges throughout the province.

(3) HEC Digital Library: The higher education Commission (heC) of Pakistan has established a digital library with a collection of OeRs and other educational resources.

(4) Free Textbook Project: The Lahore University of Management Sciences (LUMS) project aimed at providing free, high-quality textbooks for college students in Pakistan.

(5) Sindh OER Initiative: A similar initiative to the Punjab OeR Initiative aimed at promoting the use of

OeRs in schools and colleges in the Sindh province. These initiatives are helping to promote the use of OeRs in Pakistan and improve access to education for students. By reducing the cost of materials and improving the quality of resources, OeRs can play a key role in advancing education in Pakistan. Though Open educational Resources (OeRs) have their benefits like time saving, being free of cost, flexibility in content, and improved student outcomes however, some negative aspects associated with OeRs are given below:

(1) Quality control: Since anyone can contribute to or modify OeRs, the quality of the materials can vary greatly. This may lead to unreliable or inaccurate information being shared.

(2) Funding: The development and maintenance of OeRs rely on donations and volunteer contributions, which can lead to a lack of resources and funding for ongoing support and improvement.

(3) Limited resources: While OeRs are widely available, the range of materials may not be as extensive as those in commercial sources. This can limit the options available to educators and students.

(4) Intellectual property issues: OeRs are often licensed under Creative Commons or other open licenses, which can raise questions about copyright and intellectual property.

(5) Technical skills: Using OeRs may require certain technical skills, such as the ability to access and navigate digital materials, which can be a barrier for some users.

In a nutshell, OeRs have the potential to improve access to education significantly, but there are also challenges to be aware of and overcome. Careful evaluation and selection of OeRs, along with proper training and support for users, can help to mitigate these challenges and ensure the successful use of OeRs in education.

The writer is Deputy Director at ISSI Library, A Think Tank based in Islamabad.

Both the judiciary and the legislature must be careful to observe boundaries

Editor’s mail

Annoying checks

ALMOST six years ago, I had written about the radio frequencyidentification (RF-ID) checkpoint on Islamabad expressway near Faizabad in my letter ‘Islamabad expressway’ (April 26, 2017). These days, the local police administration has again set up such checkpoints all over the city. I fail to understand why the terrorists would pass through these points. These checkpoints since the beginning of the new year are adding to the difficulties people face in reaching their respective destinations. These long queues are also a threat to the public.

The expressway was built with an investment of billions of rupees and was supposed to be a signal-free corridor to keep traffic flow smooth. There are only five lanes on the expressway and all of them are mostly blocked during peak hours when people go to educational institutions and offices. Now imagine, what would happen if 50,000 cars would come in one flow divided into five lanes? Traffic jam, of course.

Thousands of people have been expressing their concerns and anger about this problem on various online platforms. The government should look into the matter as people are already frustrated about traffic hassles they face from Rawat to Islamabad. The authorities concerned should reconsider the security plan in order to facilitate the citizens.

SHAHERYAR HASSAN ISLAMABAD

Fight for a cause

A poet of finer sensibilities

in or out of love. Few modern-day poets have captured the feelings of lovelorn souls the way Amjad Islam Amjad has.” his work is brilliant and towers well above his fellow poets.

AFTeR Faiz amongst our new generation of poets, Amjad Islam Amjad was one of the best poets with few others who truly counted with the people, was the most loved and soujght-after poet, both by the connoisseurs as well as by the common people alike.

As an intellectual of very wide sympathies and with a socialist-realist bent, he had gained great popularity, and in his ‘Mushairas’, his turn was keenly awaited who appeared last of all and recited his lines. Invariably, he drew a thumping applause from his listeners and stole the limelight of the show.

Beginning his career as an educationist, he taught Urdu in Lahore’s distinguished educational institutions to graduate and postgraduate students and thereafter worked as a Director in Pakistan Television Centre Lahore from 19751979. In 1997, he was appointed as the Director General of the Urdu Science Board. In his later postings, he served as the Project Director of the Children Library Complex.

he was essentially a romantic poet of very high order, and most of his poems reveal his heart-broken feelings for his lover. I became enamoured of him as a poet of great worth when I heard him in a ‘Mushaira’ in which he recited his famous poem written in blank verse but with a fascinating internal rhythm, “tumhain mujh se mohabbat hai” (You’re in love with me).

In this poem his theme was that love is not a silent and subjective emotion, and unless love displays its strength and exuberance in a very practical way, and shows its pulsating urge for the loved one, it remains short of being a genuine emotion. Its actual physical manifestation by letting the loved one know its potentially overweening force, is extremely essential. True love, according to the poet, is deeper than the deepest sea, and more stable than the mountains, and hence it should firmly re-affirm itself again and again. Thus the poet’s incisive understanding of true love’s craving is a perennial psychological reality which only a poet of the genius of Amjad Islam Amjad could understand and display.

Instead of citing many other of his poems, I have cited only this poem at length to only show Amjad’s unique understanding of human nature, which is the hallmark of all the rest of his poetry. This he achieved through the careful use of similes, metaphors and symbols and became one of the representative voices of his age. One of his admirers remarked that “he is a poet whose lines tug at the hearts of those who have either fallen

Amjad Islam Amjad Amjad was not only a poet of higher sensitivities, but was also a prodigious writer of columns, translations, criticism and essays. But his most distinguished talent appeared as an outstanding playwright for Pakistan TV. his TV dramas of the 70’s and 80’s won him international recognition. his most famous dramas were Waris, Dehleez, Samandar, Raat, Waqt and Apnay Loag which were televised by PTV and which won acclaim from all Urdu-speaking people around the world. he wrote his first drama, Pehla Khel, in 1973. his famous play Waris became a catchword and kept the TV viewers spellbound for a long time.Due to Amjad’s incisive knowledge of feudal life of his country he introduced their dogfights, and their mutual clashes peppered with exceptional dialogue peculiar to that culture, which made Waris the greatest-ever TV production from Pakistan.

Amjad won the love and admiration of his friends and admirers for his exquisite and refreshing views about people, customs, language and culture whenever he appeared in talk shows on TV. he had traveled extensively in most countries of the world and had good knowledge of their people and culture. Sometimes in a year, he visited many countries where he was invited to attend ‘Mushairas’, which journeys he undertook with great relish, and s became a popular poet in the outside world.

Amjad wrote more than 20 books and his well-known poetry compilations include Barzakh, Saathwan Dar, Zara Phir Se Kehna, Khizaan Ka Aakhri Din, Itne Khwab Kahan Rakhunga, Mohabbat Aisa Dariya Hai, to name a few. He was also awarded the Sitara-e-Imtiaz (1998) and Pride of Performance (1987) by the government of Pakistan for his multiple contributions in the field of Arts of his country.

he was heard and respected for the clarity of his views which were often broadcast from the TV. In one of his TV interviews he held that Urdu as a spoken language will prosper in the world in future and also anticipated that it might become a very popular language in the world. In his view, even at present it was among the top three spoken languages after Chinese and english. Spanish came at Number Four. he was happy with the strides Urdu was making in this

global expansion but ruefully held that its script is in danger of being forgotten altogether. Due to the expansion of electronic media and electronic equipment, the people who resort to SMS, smartphones, and the Internet, most people chat with each other using the Roman script instead of the Persian script. Amjad has quoted the famous Urdu fiction writer Ismat Chughtai complaining that her own daughters could not read her books due to their unfamiliarity with the Persian script. Thus according to Amjad, de to our detachment from Urdu book literature and our losing sight of its traditional script, Urdu literacy will suffer and the langage will lose its appeal. The new generation in Pakistan and India mostly write Urdu in Roman or Latin script which is linguistically a bad trend. The popularity of spoken Urdu at present supersedes all other languages of the Subcontinent but it suffers in its printed literacy.In his interview he observed that the proliferation of TV channels has brought the standard of screenplays down, and he was not comfortable with what was happening. he maintained that in Pakistan, poetry is of good quality because Urdu is the country’s national language. Urdu also has economic utility in Pakistan. Amjad bemoaned the fact that after the division of the Subcontinent, Indian national policy included replacement of Urdu words with hindi, which will hit Urdu badly.

Amjad wrote more than 20 books and his well-known poetry compilations include Barzakh Saathwan Dar Zara Phir Se Kehna, Khizaan Ka Aakhri Din, Itne Khwab Kahan Rakhunga, Mohabbat Aisa Dariya Hai, to name a few. he was also awarded the Sitara-e-Imtiaz (1998) and Pride of Performance (1987) by the government of Pakistan for his multiple contributions in the field of Arts of his country. he kept attending various literary festivals and mushairas till his final days.

The writer is a former member of the provincial civil service and can be contacted atzafar.aziz.ch@gmail.com.

GeNeRALLY, Pakistanis are generous at verbosity and thrifty at action. The majority of the population department officials and workers tasked to promote family planning on average have eight to 12 children of their own, while those in the education department indulge in embezzling funds and encouraging teacher absenteeism.

The police force works to encourage crime and create artificial law and order situations to serve personal interests and does the biding of its political and feudal masters or patrons. The forest department is either helpless or is involved in deforestation and encroachment on rapidly dwindling forest land. The Ministry of Climate Change confines itself to issuing statements and blaming the developed countries, though rightly, for climate change impacts on the developing countries, including Pakistan.

Loud claims of billion tree plantation have not materialised into action. We abhor planting the trees and revel in wiping the thin cover of remaining vegetation. It looks like we actually despise greenery.

however, there are rare exceptions and there are a few persons in all departments who ignite a ray of optimism. I spotted one such small but inspiring action on social media. A doctor, an environmentalist from Karachi, stood up to greedy and anti-environment builder, who was bent on clearing the trees planted on streets by the doctor lining his apartment block. The doctor, despite being a busy professional, put up a resolute legal fight and succeeded in saving 130 trees from falling victim to the greedy builder.

If every Pakistani gathers courage to resist the onslaught of deforestation in every nook and corner of Pakistan, and undertakes tree plantation and protection, we can make the country green again, and regain the status of 25 per cent area covered with trees. We can thereby tackle a plethora of problems related to climate change. And, indeed, we can sort things out in different domains of national life by adopting the same approach.

GULSHER PANHWER KARACHI

Islamophobia is exposing West

WhILe Islamophobia in the West is not a new curse plaguing the region, it showed its ugly face in the most extreme form when a Swedish-Danish right-wing extremist desecrated the holy Quran first in Sweden and then in Denmark.

Rasmus Paludan, a dual national who is the leader of the Stram Kurs (hard Line) Party, committed the loathsome act, but what made it more condemn-able was the fact that it was done even though the two governments knew of the plan in advance. In between the two outrageous acts, edwin Wagensveld, a far-right Dutch politician, and leader of the Islamophobic group Pegida, committed a similar vile act in The hague. All the three incidents took place within a week. The current wave of Islamophobia for sure is a new low in europe, which has reminded the world of europe’s own ‘dark hours’ during World War II.

The ‘Fourteenth Report on Islamophobia’, presented at the 48th session of the Council of Foreign Ministers that was held in March in Islamabad, stated that Islamophobia “is a mixture of fear, hate and prejudice related to Islam that transform into negative sentiments, gestures, racist and intolerant attitude, as well as deliberate act of discriminations against Muslims, insults upon Islamic sacred symbols and venerated figures, and even into violent crimes against people with Islamic attires”. The report also talked about hatred, stigmatisation, racism and discrimination of Muslims on media platforms, at workplaces and in the political sphere.

I have tried to figure out what might have led people in most european countries to nurture the fear of Islam. Is it their fear of Islam and Muslims, or are they involved in such vile acts without even knowing the reason behind their own acts? The politics around the world has added more to the hatred against Islam and Muslims. The hate-laced speeches by populist political leaders have led to a rapid rise in hate crimes, mainly against Muslims living in the West. even former United States president Donald Trump, speaking against the fundamentals of Islam during his official visit to Poland, had asserted: “I am at war against them”. Such statements have fuelled anti-Muslim sentiments across the West, while political leaders for their political gains have been whipping up Islamophobic hysteria, stereotyping and stigmatising Muslims across the world.

A BBC report, ‘europe and right-wing nationalism’ in 2016 told us that electoral gains had been made by far-right political parties in elections held in european countries, like Switzerland, Austria, Denmark, hungry, Finland, Italy, Sweden and Germany, among others. The people in the Western world fear Islam as a concept against modernity, claiming that it is not compatible with democratic values. This certainly seems to be a case of flawed understanding of Islam, or a deliberate attempt to target and tarnish the religion. Islam offers everyone a model of a just society having all the elements put together under the umbrella of human rights. Islam as a religion transformed the world system. It has given rightful status to women in society by protecting their rights. Islam has taught us about collaboration, consultation and cooperation, and that has added more beauty to Muslim societies.

SARANG LATIF KHUHRO KARACHI

ZAFAr AZiZ CHAdHry

The passing of a literary giant

The Modi Masala ThaT Makes The bRand Modi: half-TRuThs, lies, decepTions and sToRyTelling

THE LIES AND DECEPTIONS OF BRAND MODI ARE ENDLESS BEGINNING FROM THE PRE 2014 ELECTION JUMLA OF PROMISING TO CREDIT RS 15 LAKHS IN EVERY PERSON’S BANK ACCOUNT TO THE DISTORTION OF FACTS AND FIGURES DURING DEMONETIZATION AND AFTER

CounterCurrents

S K Arun Murthi

Recently, I received a video (youtube shorts), on WhatsApp, of a comical portrayal of a scene where Rahul Gandhi is peeping from behind to see how narendra Modi prepares tea. Rahul Gandhi is curious to know, in this video, what masala (spices) Modi adds to the tea that makes people consuming his tea come back again and again. Modi tells Gandhi that he will never understand his way of making the masala tea.

In the humour, perhaps, lies an idea. the comical portrayal, perhaps, can be understood as conveying the idea of the ingredients of the masala, in a metaphorical sense, that goes into the making of the Brand Modi. Such a brand, once built and established, has to be defended and guarded from onslaughts to sustain the brand image and value. this is more so in the case of political brands where people, as voters, have to be made brand loyal to come back again and again to elect. It is here that the masala plays a vital role. come the elections, whether general, state or even municipal elections, what predominates the thinking of those voters deciding for the Bharatiya Janata Party (BJP) is the image of Prime Minister narendra Modi. to continuously sustain his glorified image the BJP and its government at the centre are always buoyant when it comes to outpourings of adulation for narendra Modi.

Further, any exposés like the BBc documentary series India: the Modi Question and the Hindenburg Research report on Adani Group are seen as onslaughts to the image of narendra Modi that negatively affect his brand value. Hence, the army of image makers, guarders and warders ranging from media ecosystem, officials of government institutions, the BJP leaders, other acolytes of the ruling dispensation in different fields and the troll gang swoop down to discredit such exposés in order to protect the brand. Often, they go “ballistic” with masalas prepared from the propaganda cells transmitted through “fake news chains” using twitter.

An issue of new India Samachar (September 16-30, 2022), an Information and Broadcasting (I&B) Ministry magazine, carries a surfeit of “adulatory references to his feats”, along with his quotations and photos of different sizes. this perhaps makes for what is known as the Modi cult that is cultivated so indelicately. It becomes an event management exercise that needs to be skillfully managed with photo shoots. An example was his visit to the Morbi hospital where the victims of the Morbi bridge collapse tragedy were admitted. the poor condition of the hospital was covered up by a quick facelift to prepare for the photo shoot during Modi’s visit.

Modi’s visit to Kedarnath temple in October last is another example of his public act-private moment event. His moments of humility and submission before the lord’s image, in the precincts of the shrine, were captured from different angles. Such displays go a long way to impress the immature bhakts (believers) and bolster his image. this article details the expanding and neverending Modi cult that is so pervasive and begins with a list of how his figure has been enveloping all the spheres of our mundane daily life. Beginning with the vaccination certificates, the many images of Modi make their appearances on even saris.

Apart from the I&B Ministry magazine and other such means that promote the Modi cult there is also something known as Brand Modi, which some have opined, perhaps rightly, as one of the most powerful political brands in India’s history. Or is it, as it appears now, that Brand Modi is developing into cult Brand Modi?

cult Brand is a marketing concept. the customer base of cult brands is extremely loyal and fanatical. the cult brand speaks and connects to the customer’s emotions and engenders a sense of belonging. It builds a kind of consumer culture where the loyal customer thinks of consuming the product as part of her lifestyle. It persists for a long time. Brand Modi was built before 2014 elections and that continued throughout his tenure and further in 2019 elections. the taglines that created the brand tell it all: Modi hai to Mumkin hai (if Modi is there it is doable), Ayega to Modi hi (Modi only will come), Vikas Purush (development man) and many others were aggressively pitched as campaign slogans.

Here is a brand without a concrete visible product or service. (this essay shows how much efforts were involved in brand building of Modi. One can imagine the money spent on such efforts). thus the brand building exercise became just tagline pushing coupled with making every public act of his, an event management exercise.

BRAND MANAGEMENT IN POLITICS: Brand Management is a marketing activity. Philip Kotler, the marketing guru, says that “the most distinctive skill of professional marketers is their ability to create, maintain, enhance and protect brands”.

It is indeed unfortunate and regrettable that the ne-

oliberal marketing idea of brand has been brazenly used in the present times in popular political discussions. It makes one wonder whether the virtues of social justice and welfare etc. that have been so central to serious political discourses have been given a complete go by. the idea of a free citizen with a critical voice in a democracy is giving way to a brand loyal blind customer (or Andh Bhakt) susceptible to manipulations in a market.

though there should be an aversion to such marketing ideas being part of political discussions it would still be a matter of much significance to unpack the idea of the making of cult Brand Modi. It would also reveal the ingredients of the Modi masala that goes into the making of Brand Modi. In the unpacking of this idea it would be appropriate to draw upon how marketing professionals have expounded on the subject of brands; how brand management in politics involves lying as a mode of deception, and in times of crisis, when a product or service is not to be found, it is the crisis that delivers the blow to the brand image.

the American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors.” the goal of branding a product is to establish a certain product leadership in the market leading to increased profits.

the brand is projected in marketing campaigns through well devised taglines. In its bid to capture the consumers’ loyalty brand taglines end up being misrepresentations of the product, sometimes short of lying.

When it comes to political cult brand, in its bid to capture the voters’ loyalty, brand management requires the skill of storytelling where facts do not count. truth, thus, becomes a casualty. the content of such stories, with the intent of building cult brand, operates beyond truth on the peg of misinformation, misrepresentation and, most of the times, outright lies.

THE MAKING OF BRAND MODI: Brand Modi is built upon such stories and tales, woven from falsified history, combined with powerful propaganda and public relations machinery at BJP’s disposal. the lies and deceptions of Brand Modi are endless beginning from the pre 2014 election jumla of promising to credit Rs 15 lakhs in every person’s bank account to the distortion of facts and figures during demonetization and after. thus there was a total disregard for the state of affairs and truth.

Modi taglines were pushed to project a positive image of a strongman. In an article, David Dyzenhaus, professor of law and philosophy at the University of toronto, questions: What allows these strongmen to rise? the answer, he writes, “is often wrapped up in some idea of ‘populism’”. the idea, perhaps, can be unwrapped by understanding the making of political brands.

the populism, which gives rise to the image of a strongman through brand building, is generally associated with a particular understanding of ‘the political’. that understanding is in terms of what carl Schmitt, the much despised German constitutional lawyer and political theorist, enunciates as the friend-enemy principle.

this principle plays out on the ground as toxic intolerance and hatred. the outcome of that hatred is violence perpetrated on those seen as enemies of the state- the minorities, particularly the Muslims- who have to be vanquished. these are done in the form of use of bulldozers by the state in demolishing their (members of the minorities) houses. this event is then projected to enhance the strongman image. their places of worship are also attacked.

Such violent occurrences, however, get shrouded by Modi’s silence coupled with his preacherly can’t through reeling out stories, later amplified by the media.

It is the negative emotion of toxic hatred coupled with the belligerence of Sangh Parivar outfits like Vishwa Hindu Parishad and Bajrang Dal that created the loyal Andh Bhakts (blind followers) of the brand. His

THE TAGLINES THAT

populist practices of thali banging, claps, Diyas, and switching off lights further added to his image. the taglines were mere frippery and moonshine and the brand was a mask. Fake news and half-truths inciting animosity play an important role in targeting the minorities. It forms a component in this brand building exercise with the purpose of creating a strongman perception. these are generated and delivered by well-cultivated propaganda machinery and the ever compliant media. this machinery also includes social media messages eulogizing Modi with the best of adjectives. the media is always on its toes to shower him with the best of taglines that further enhance his brand value.

the fabricated image of Modi alongside the headline (or is it tagline?) ‘last, Best Hope of earth’ in what appeared to be the front page of new york times, that social media users were posting last year, is one example of such a machinery. the taglines and the slogans for establishing and promoting Brand Modi become exaggerated versions of non-existent virtues. thus, in the creation of these taglines there is an element of deception to capture people’s loyalty towards the brand and in this way he finagles to get the votes.

MODI THE STORYTELLER: Storytelling is another important element of brand building where the product itself speaks to the customer of its putative virtues. If one goes through Modi’s speeches here it can be seen that lies are not blandly presented but are rendered as a spiced tale. the narrative of self-glorification is well scripted with virtues and the narration is well-rehearsed. One example of this is how as a fakir he can walk away with a jhola (a shoulder hanging bag).

Modi wields his flair for the dramatic and delivers the story as a performance with engaging histrionics, well-crafted voice modulation and well-calibrated pitch variation. Both the narrative and the narration matter in the performance. As Arundhati Roy rightly observes in her interview with Karan thapar, “Fake news is not just about fake facts. Fake news is about a fake narrative.”

the senior journalist Harish Khare’s masterly portrayal of Modi as a master storyteller, particularly in one of the episodes of his (Modi) falsifying history with partial truths, effectively characterizes his storytelling ability. Khare draws upon a dialogue from a Sam Bourne’s thriller to Kill the truth. the dialogue, as he reflects, best captures Modi‘s ruthless “disdain for facts, figures, data and history”. As a consequence, truth is smothered by Modi’s uncanny knack of crafting “invented stories”. Khare, however, apprehends that there could be an objection to his quoting from a pulp fiction to make a serious intellectual argument.

Apart from theatrics and distortion of facts, language as a tool can be used for effective storytelling. It is here that Khare’s apprehension can be partly relieved, perhaps, by supplementing his reference with Amanda Montell’s 2021 book, cultish: the language of Fanaticism. It is a book about how language as a tool can be deployed craftily by cult leaders, spiritual gurus, politicians, brand builders etc. Unlike the marketing concept of cult brand, where there is a hazy line of difference drawn between a brand and a cult brand, Montell collapses this difference between a cult and a brand. cult and brand are the same and “language is the key means”, according to her, by which cultlike influence is exerted.

coining new phrases, redefining old words, secret codes and powerful euphemism etc. are, according to her, language games that can be played, another attribute of a cult leader and brand marketers. language games that Modi plays, as part of his storytelling, is well known. “Double engine ki sarkar” and “revdi culture” (freebie culture) are some examples of his lingo in his public addresses.

PHILOSOPHERS ON LIES AND DECEPTIONS:

Philosophers have provided their own take on lies and deceptions. It is in this context that the essays of Max Black and Harry Frankfurt can be alluded to. Black, a British-American philosopher wrote the Prevalence of Humbug and Frankfurt, the American moral philosopher, wrote an essay titled On Bullshit. the titles of these essays look frivolous and bizarre, in the sense that these words (humbug and bullshit) are generally used in casual conversations to express a pejorative sense toward something or some issue that is absolute bunkum. Moreover, these words typically are not seen to carry any profound concepts that usually interest philosophers. However, the essays unfold a certain sense of these words cogently in an analytical manner with appropriate illustrations. Black begins his essay with clear cases of humbug and, at the end, attempts to formulate a definition of humbug which runs as follows: Humbug: deceptive misrepresentation, short of lying, especially by pretentious word or deed, of somebody’s own thoughts, feelings, or attitudes. Frankfurt, referring to Black’s essay, offers a more nuanced analysis of each of the elements in the above definition. In humbug the speaker actually misrepresents what is in his mind to the audience. What the speaker says through these statements is not important but what he wants the listeners to think of him becomes significant. this is the art of demagoguery that Modi has so well imbibed and the listener voters were swayed by his oratory.

Frankfurt then distinguishes his account of bullshit from humbug as follows. Here, when the speaker speaks the listener takes the statements made as purporting to give a description of a certain state of affairs. the listeners take it that the speaker is “engaged in an activity” where the distinction between truth and falsity is crucial. But it turns out to be the case that the speaker is not concerned with truth and her statements are grounded neither “in a belief that it is true” nor “in a belief that it is not true”. there is a lack of concern with the state of affairs and she is disconnected with truth. this, for Frankfurt, is the essence of bullshit- characteristic feature of the art of demagoguery that draws voters and makes them brand loyal and one that is true of the making of cult Brand Modi. this is the art that Modi has so well perfected. Branding is required to capture power in the market as far as products are concerned. Politics is also about the capture of power. Black argues that misrepresentation and lying are ubiquitous phenomena that people use to gain political power. this whole exercise of branding in politics, it can be claimed, is nothing but misrepresentation and lying to capture power. the only difference being that here the product is the brand and it represents something that is emotional and intangible.

BLOW TO BRAND: could there be circumstances that can have a negative impact on the brand? currently there are things that have happened that should have a negative impact on the brand. One is the release of BBc documentary series that directly indicts narendra Modi for Gujarat riots. the other, that causes further injury to his brand, is the Hindenburg Research report that accuses Adani Group of companies of stock manipulation and accounting fraud. narendra Modi is seen to have close links with Gautam Adani and his group. It is alleged that the Modi Government has been facilitating the growth of Adani by a series of partisan measures.

Will these negative perceptions caused by these events have any impact on Brand Modi? even earlier there were instances of disastrous incidents that could have led to erosion of brand value. In 2021 the same BBc stated how the covid crisis did deliver a blow to Brand Modi. Or even the tragic incident of lakhimpur Kheri- whose roots can be traced to the power and arrogance of Modi’s men. It could also be due to government’s failure to manage the economy. these did dent his image a little.

Did or will such negative happenings make any big difference to Modi’s cult brand? not at all. Modi and Amit Shah are “hardened operatives”, as Harish Khare remarks, who would be unconcerned about such incidents as their only concern is success based on the exercise of brand building by deploying skilfully an arsenal of lies, deceptions and masterly storytelling to divert attention from such scandalous happenings. If at all it makes any difference it would be in the following direction: what should be the next strategy of brand resuscitation, now that this has happened? Modi and his political consiglieres will pitch in to do the needful to work out the ingredients of the masala to work wonders in the continuous remaking and sustenance of the brand.

But the question before us is: How long should one bear this pervasive unbridled bumptiousness of the cult Brand Modi? can the opposition be strong enough to counter the humbug of the brand and build countervailing stories?

S K Arun Murthi is Ex Faculty of Philosophy in IISER, Mohali (retired), Department of Humanities and Social Sciences

CREATED THE BRAND TELL IT ALL: MODI HAI TO MUMKIN HAI (IF MODI IS THERE IT IS DOABLE), AYEGA TO MODI HI (MODI ONLY WILL COME), VIKAS PURUSH (DEVELOPMENT MAN)

corporate corner

Sajid Baloch posted as additional secretary, cabinet division

Previously serving as the Executive Director, NAVTTC National Vocational and Technical Training Commission, Ministry of Education.

Mr. Sajid Baloch is an officer of the Pakistan Administrative Service (PAS) (BS-21) 1995 batch (23rd CTP), and possesses rich experience of 3 decades in the public sector and development sector, including United Nations. He has the reputation as a competent, honest, public friendly officer and a good administrator. He holds Masters Degree in Development & Environment from Kings College London, and Electrical Engineering from NED University. He is a British Chevening scholar. He possesses extensive experience of governance, education, TVET, poverty, policy, law, gender, international /donors liaison and project management. pr

FBR to hold next POS prize draw in March

Federal Board of Revenue (FBR) has resumed its suspended Point of Sale (POS) Prize Scheme from 1st February, 2023 and the next Prize Draw will now be held in the first week of March 2023.

The Prize Scheme for customers of Tier-1 retailers is a popular and promotional activity which rewards them for making purchases at any of the Tier-1 retailers integrated with FBR. The public helps FBR by insisting on QR coded receipts from retailers and get a chance to win prizes after verifying their invoices through Tax Assan App.

FBR assures that, like before, the Prize Draw will be held with complete transparency and fairness. All the verified invoices of February 2023 and of previous months during the period of suspension will be included in the upcoming Prize Draw to be held in the first week of March 2023.

FBR encourages general public to actively participate in the Scheme to make it a success by playing their role in documenting the economy. For more Information, general public can visit the FBR Website or contact customer support service. pr

Need to develop flood resilient education system to avoid learning loss: Experts

NOT-BY- PROFIT

UAE, SAUdi MAy EASE PAth tO citizENShiP FOR ExPAtS iN POSt-Oil FUtURE: REPORt

islamabad news desk

ACCORDINGto a recent report in The Economist, the possibility of citizenship for expats may become easier in future as Gulf countries strive to adapt to a post-oil world. The UAE, where expats make up nearly 90% of a 10 million-strong population, wants to lure 3 million to 5 million more. The path to permanent residency, and perhaps even citizenship, will likely become easier as Gulf countries look to diversify their economies and compete in a global market, argues The Economist.

Overall the report highlights the challenges and opportunities for the Arab petrostates in preparing their citizens for a post-oil future. From the perspective of expats, the article suggests that these countries are undergoing a transition towards somewhat more liberal and open societies, but this transi-

tion could also create social instability if autocratic governments fail to adapt. The report argues that this may also lead to challenges in the relationship between the state, its citizens and expats, as foreigners who put down roots may one day demand more rights.

The article notes that Gulf governments used petrodollars to pamper their citizens with everything from cushy public-sector jobs to water subsidies and bonuses for newlyweds, while foreigners were encouraged to move to the Gulf to do the jobs citizens could not or would not do. However, this social contract will eventually become obsolete, and one of the reasons is climate change. The UAE and Saudi Arabia, which together pump 14m barrels of oil per day, know that demand for fossil fuels will fade.

As a result, these countries have a window of 10-20 years to transform their economies. The article suggests that some of the changes taking place

are astounding. For example, in Saudi Arabia, women who were once barred from driving can now drive to work, and the percentage of Saudi women either employed or looking for work has increased from 17% in 2017 to 37% today. Restaurants were once prohibited from playing music, but now there is talk of loosening the alcohol ban.

However, this transformation also comes with a sense of insecurity. The citizens of the Gulf are having to compete for private-sector jobs, and their governments are keen to attract more foreigners. The UAE, where expats make up nearly 90% of a 10m-strong population, wants to lure 3m-5m more. Gulf citizens will need the tools to succeed in this new era, and education is a good place to start. Schoolchildren in Qatar, Saudi Arabia, and the UAE lag far behind their rich-country counterparts, and dropout rates are high because students assume they

can rely on a government job.

The article also notes that greater social freedoms have been accompanied by more political repression and centralization, particularly in Saudi Arabia, under its de facto ruler, Muhammad bin Salman. Yet a taste of freedom in their daily lives may spur people to seek more say in politics, too. Governments will have to heed the grumbles when economic change creates losers, as it will.

In conclusion, the Economist's article suggests that the Gulf countries' ability to adapt to a post-oil future and to redrawing their social contracts matters not only to their people but also to the world, given their clout in oil and gas and their role in exporting cultural values across the Muslim world. Expats, who form a significant portion of the population in the Gulf, may need to adapt to these changes and be prepared for the challenges and opportunities that come with a more liberal and open society.

Pakistan's industrialists battle over gas prices as IMF pressure looms

islamabad news desk

The latest increase in gas prices has created a rift between industrialists of Punjab and Sindh, as the former has to pay almost three times more than their counterparts in Sindh. The All Pakistan Textile Mills Association-North has urged the government to adopt a uniform price of $7 per million British thermal unit (mmBtu), demanding that different gas rates for the export-oriented industrial units of Punjab and Sindh be abolished. The production of natural gas in Pakistan is mostly concentrated in Sindh, and this gives the province the right to use it first. However, the policy of charging different rates has been criticized as it causes one group of industrialists to be pitted against another, and is bad for investment.

Industrialists in Punjab have been demanding

an electricity tariff of 9 cents and a gas tariff of $9/MMBtu to remain competitive in the international market. The closure of Punjab's textile industry could result in massive unemployment in the country, leading to further deterioration of the balance of payment crisis. The All Pakistan Textile Mills Association has argued that the country could lose $10 billion annually if the government withdraws the regionally competitive energy tariff (RCET). The sector has invested $5 billion over the last three years, and the textile sector surged to $19.5 billion in the financial year 2022 from $12.5 billion in FY2020. If the RCET is withdrawn, the robust growth of 55% in exports in FY22 and investment of $5 billion would go to waste, and the closure of the textile industry in Punjab would be inevitable.

To make matters worse, the export sector in Sindh enjoys a cost advantage of at least $575m per

NBP, State Life extend partnership in new verticals by offering bilateral financial solutions

Karachi

pr

Islamabad: Experts stressed the need to take immediate measures to recover the loss of learning during floods and develop a flood-resilient education system to prevent disruption to education in such calamities. This was stressed during the launch of the report on the postfloods education situation in Pakistan, “Towards a Resilient Education Recovery from Pakistan’s Floods - Rapid Response Research,” published by Pakistan Coalition for Education (PCE) in collaboration with Education Champion Network (ECN). A high-level policy discussion also took place on the sidelines of the launch organized by PCE in collaboration with the Ministry of Federal Education and Professional Training (MOFEPT), Malala Fund, and ECN. Representatives from the World Bank, JICA, FCDO, International Rescue Committee (IRC), UNICEF, and the UNDP participated in the policy roundtable. pr

National Bank of Pakistan (NBP) and State Life Insurance Corporation of Pakistan (SLIC) signed a Memorandum of Understanding (MOU) for offering bilateral financial and insurance solutions. Both the national institutions vide this MOU agreed to enter into business arrangements that include “Employee Banking”, “Cash Management Services”, “Renaissance of Bancassurance Business”

and “Individual and Group Life, Health and Savings products, etc.” The MOU was signed by Mr. Rehmat Ali Hasnie, President (A) NBP,

and Mr. Shoaib Javed Hussain (Chairman, SLIC). Other senior executives of NBP and SLIC also witnessed the signing ceremony.

year due to the price difference of $5 per mmBtu with export-oriented units based in Punjab. The cost disadvantage puts Punjab-based industrialists at a disadvantage, leading to unequal competition. The government's decision to increase gas prices was expected to stop the fresh build-up of the circular debt within the gas sector, but it appears that the objective is not yet achieved. Although the weighted average cost of gas will go up 43% to Rs885 from Rs620 per mmBtu, a substantial part of the domestic consumer base will remain shielded from the hike. The government has introduced the definition of "protected" consumers, which doesn't take climate differences across major cities into account, potentially leaving affluent households in Karachi that consume less than 90 cubic meters in the four winter months shielded from the hike, while households in Quetta or Islamabad might not.

To read the full article visit www.dawn.com

ccP applauds Nepra's decision to maintain net metering regulations

Islamabad: The Competition Commission of Pakistan (CCP) has welcomed the decision of the National Electric Power Regulatory Authority (NEPRA) to maintain the existing NEPRA (Alternative & Renewable Energy) Distributed Generation and Net Metering Regulation, 2015. The decision comes after NEPRA proposed amendments to the net metering regulations, which raised concerns over competition.

The proposed amendments would have replaced the National Average Power Purchase Price (NAPP) with the National Average Energy Purchase Price (NAEPP), resulting in a decrease in the amount payable to distributed generators/ prosumers (consumers/customers who both produce and consumes electricity). CCP had reservations over the proposed amendments and conveyed its concerns to NEPRA in Nov 2022. NEPRA assured to give due consideration to all stakeholders' views before reaching a decision on the proposed amendments. pr

PARC team up with CABI, USDA, and USAID to reinforce commitment towards safeguarding health of plants, humans: Chairman

islamabad pr

Pakistan Agricultural Research Council in collaboration with Center for Agriculture and Bioscience International (CABI), with support from USDA and USAID, organized a Stakeholder Engagement Workshop under the program “Regulatory Harmonization in Pakistan for MRLs and Biopesticides” at National Agricultural Research Center, Islamabad. The focus of the event was the importance of Maximum Residues Limits (MRLs) for pesticides. Maximum residue limit(MRL) is the highest level of a pesticide

residue that is legally tolerated in or on food when pesticides are applied as per Good Agricultural Practice.Various stakeholders involved in research commissioning and research implementation attended the workshop, including scientists throughoutNARC system, CDRI, ERP-IPEP, Director, AZRC Umerkotand extension workers from provincial departments of agriculture, private sector and from leading agriculture universities of Pakistan.

During the event, Dr. Ghulam Muhammad Ali, the Chairman of PARC, commended the collaborative efforts of CABI with the support of USAID and USDA in reducing the exposure of MRLs and aflatoxin in crucial commodities of Pakistan. He stressed the importance of eradicating such issues at the grassroots level to generate

greater economic benefits for the country. The Chairman of PARC also reassured attendees that PARC would continue to work with CABI to implement initiatives that prioritize the health of both people and plants. Dr. Ali underlined the role of MRLs as a technical barrier to trade and emphasized that these initiatives would contribute to improved trade relations with neighboring countries. Dr. Babar E. Bajwa, Senior Regional Director- Asia at CABI, extended a warm welcome to all the participants attending the workshop. He highlighted that the CABI and PARC partnership aligns well with the contemporary approaches taken by developed.

China boosts global Cooperation with joint naval drills in pakistan

ISLAMABAD

stAff correspondent

tHeAMAN-23 multinational maritime exercise, hosted by the Pakistan Navy with the participation of about 50 countries including China, wrapped up with an international fleet review on Tuesday, with the guided missile destroyer Nanning of the Chinese People’s Liberation Army (PLA) Navy winning praise from Pakistan’s naval chief.

China’s participation in the joint drills marks a boost in its military exchange and cooperation with foreign countries, which have been hindered by the COVID-19 pandemic over the past three years, and more such activities will take place, experts said on Wednesday.

The five-day exercise that started on Friday culminated on Tuesday in the North Arabian Sea with an international fleet review followed by the spectacular AMAN Formation, comprising the Pakistan Navy and foreign naval ships including the Type 052D destroyer Nanning of the PLA Navy, with Prime Minister of Pakistan Shehbaz Sharif in attendance.

The drills started with seminars, operational discussions and professional demonstrations among other preparations in harbor, before switching to the sea where scenarios included tactical maneuvers, anti-piracy, counterterrorism, search

and rescue, live-fire shooting as well as air defense exercises.

Having closely cooperated with forces from other countries, the PLA Navy ship Nanning displayed a high level of professionalism as well as command and control capability, as the drills enhanced the participants’ capabilities to deal with maritime security threats together and demonstrated their determination to jointly safeguard maritime security, said the PLA Navy in a statement on Wednesday.

The traditional friendship between China and Pakistan was highlighted in the

Uk pM’s silence over raids on bbC offices in india questioned

ISLAMABAD Agencies

Questions are being raised over the silence maintained by the UK prime minister Rishi Sunak on the ongoing raids by tax authorities on the offices of the British Broadcasting Corporation (BBC) in Delhi and Mumbai in the wake of a documentary that exposed Indian Prime Minister Narendra Modi’s role in 2002 anti-Muslim pogrom in the Gujarat state. Questioning the British Prime Minister’s silence, Ashok Swain, an Indian origin academic and writer and Professor of Peace and Conflict Research at a Swedish university in his comment made on the Twitter said, “Rishi Sunak still silent on Modi’s raid on BBC offices in Delhi and Mumbai. Is he really the PM of the UK?”

It is worth mentioning that Rishi Sunak defended Narendra Modi in the British Parliament by saying that he disagreed with the characterisation of his Indian counterpart in the BBC documentary. Sunak had made the remarks while responding to Labour Member of Parliament Imran Hussain during the Prime Minister’s Questions (PMQs) session in the House of Commons earlier in January, this year. The raids on BBC offices in India come weeks after fascist Modi’s government banned the documentary –titled ‘India: The Modi Question’ – that examined his role in the anti-Muslim riots in 2002 in Gujarat, where he was chief minister at the time. The documentary also revealed for the first time an unreleased UK government report that said the events had all the hallmarks of an ethnic cleansing. The report said Modi was directly responsible for a climate of impunity that led to the anti-Muslim violence, and that he had ordered senior police officers not to intervene. The Indian government banned the documentary, authorities moved to stop screenings and restricted clips of it on social media in a move that critics branded an assault on press freedom.

residents leave Ukraine’s Chasiv Yar to escape bakhmut fighting

The drills hosted by the Pakistan Navy served as a bridge that allowed countries to display their capabilities and conduct face-to-face meetings, which enabled them to enhance mutual understanding, Song Zhongping, a Chinese military expert and TV commentator, told the Global Times on Wednesday.

China’s military development serves to safeguard world peace and regional stability, as it will continue to boost military exchanges and cooperation with more countries in the future, Song said.

It can enhance military transparency between countries and help control and manage differences, Song said. “China is confident, and is willing to communicate,” he said.

ChASIv YAr, UkrAINe Agencies

As a Soviet army conscript, Vasil Slabun helped in the clean-up of radioactive material after the Chernobyl nuclear accident in 1986. He still suffers migraines but largely blames his headaches on the constant sound of artillery firing in the town of Chasiv Yar, eastern Ukraine. “It’s very noisy,” he told AFP. “My nerves are shot.”

Right on cue, the deafening sound erupts of shells launched towards Russian positions in neighbouring Bakhmut, where fierce fighting has been taking place since May last year.

At 7:30 am on Wednesday, Slabun, 62, had already been waiting for half an hour for the evacuation bus out of Chasiv Yar.

Nanning‘s port call in Karachi, with Pakistan’s Chief of Naval Staff Admiral M Amjad Khan Niazi among other high-ranking Pakistan Navy officers boarding the Chinese ship during the exercise. Niazi said at the international fleet review on Tuesday that the Nanning is a wonderful ship. Some 50 countries participated in the AMAN-23, with Indonesia, Italy, Japan, Malaysia, Sri Lanka and the US also sending warships. It marks China’s first major military diplomatic event since it entered a postCOVID era this year, observers said.

China’s next foreign military exchange event is expected to come soon, as South Africa will host a joint exercise with Russia and China on its east coast from Friday to February 27, Reuters reported in January.

During AMAN-23, the participating US warship failed to make a port call in Karachi and only showed up during the sea phase, the Global Times learned.

It shows that the US Navy was not confident and was not willing to communicate with China and others, Song said.

“The US often accuses China of being not transparent with its military, but in fact, it is the US that is not transparent,” Song said.

NeW YOrk Agencies

The New York-based media watchdog, Committee to Protect Journalists has called upon the Indian authorities to stop harassing journalists after Income Tax officials raided the offices of the British broadcaster BBC in New Delhi and Mumbai.

CPJ’s Asia program coordinator, Beh Lih Yi, in a statement said, raiding the BBC’s India offices in the wake of a documentary criticizing Prime Minister Narendra Modi smacks of intimidation.

“Indian authorities have used tax investigations as a pretext to target critical news outlets before, and must cease harassing BBC employees immediately, in line with the values of freedom that should be espoused in the world’s largest democracy,” she said.

“Officials from the Income Tax Department sealed the offices as part of an investigation into alleged international taxation irregularities, according to the BBC. Tax officials told news website NDTV that they were checking account books and that the raids “are not searches.”

Multiple reports citing unnamed employees said authorities seized employees’ laptops and mobile phones,” the CPJ said.

Indian tax authorities raided news outlets Newslaundry and Newsclick in 2021 following critical coverage of government policies

and Modi’s supporters on the Hindu right wing, the statement said.

It is to mention here that the Indian government ordered YouTube and Twitter to take down links sharing the first episode of the two-part BBC documentary exposing Narendra Modi’s role in 2002 anti-Muslim riots in Gujarat when he was chief minister of the state. According to the documentary, Modi ordered police to turn a blind eye to the anti-Muslim pogrom.

Meanwhile, Global human rights body, Amnesty International has said the raids by India’s Income Tax department officials on the BBC’s office in New Delhi and Mumbai are an ‘affront to free speech’.

Aakar Patel, Chair of Amnesty International India’s Board, in a

statement said, the tax department’s raids, which are being presented as ‘surveys’, come less than a month after the organization released a documentary that openly criticized Prime Minister Narendra Modi.

He said these raids are a blatant affront to freedom of expression. He said, the Indian authorities are clearly trying to harass and intimidate the BBC over its critical coverage of the ruling Bharatiya Janata Party.

“The overbroad powers of the Income Tax department are repeatedly being weaponized to silence dissent.

Last year, tax officials also raided the offices of a number of NGOs, including Oxfam India. These intimidatory acts, which undermine the right to freedom of expression in India, must end now,” he added.

“It’s a habit,” he said with a toothless grin, lighting a cigarette and putting it to his lips through a thick salt and pepper beard.

“It’s better to be early than late.”

Soon, a white minibus arrives and he greets the driver and volunteer with a firm handshake stubs out his smoke and clambers on board. His two small holdalls — all he is leaving with — are loaded in the back.

“I’ll return when the Ukrainian army has won,” he said. “I was born here and all my family are buried here.”

– Shelling –

The minibus, operated by the charity Save Ukraine, picks its way through the snowcovered streets on the way to its next pick-up, taking advantage of a relative lull in the firing. The charity has been evacuating the vulnerable from conflict zones in Ukraine since 2014. As of early February, it said it had moved more than 83,000 children, adults and disabled people to safety.

In recent weeks, more people have been requesting help to get out of Chasiv Yar, as the fighting in and around Bakhmut inches closer. The first stop for passengers is Pokrovsk, a 90minute drive away to the southwest, and an emergency assistance centre run by the charity. From there, they will be helped to find longerterm accommodation to start a new life elsewhere.

Lubov, 65, is heading to the western city of Lviv with her daughter, Olena, 45, with their two small dogs, Liolik and Richard, on their laps.

“It’s a bit scary when the shelling happens and we obviously don’t want to hear it,” said Lubov, who didn’t give her surname.

“I want to see my granddaughter, who lives where we’re going. We hope the Ukrainian army will fight for us and defeat the Russians. Then we’ll come back.”

– No choice –

The minibus slips and slides down a sidestreet, coming to a halt where Mykola Yakimovich, 71, is waiting in his carpet slippers.

He is staying in Chasiv Yar but his wife, Lubov, 68, their son, also called Mykola, two cats and two dogs are leaving for his sister-in-law’s in Dobropillia, north of Pokrovsk.

“I don’t want to go,” he said. “I’ve lived my life, so my son should live his. “Since 2014 there’s been a lot of bad things happening. It’s better to take them away from here.”

As ever, ordinary people are bearing the brunt of conflict, he said, before the family exchanges hugs and the bus drives away.

Lydia Ivanovna, 62, needs help as she leaves her home, walking with a stick and leaning on the supportive arm of Save Ukraine volunteer Andriy.

“I’m afraid to stay here because they’re shooting and they could kill me. We’ve been told to leave,” she said.

“I’m leaving my home and all my belongings because I don’t have a choice. I’m old, I’m sick, so what am I going to do? I cry every day.”

Economic Watch: China’s tech-boosted economic recovery to deliver solid rebound

TIANJIN Agencies

In a science and technology park in north China’s Tianjin municipality, dozens of mechanical arms moved along a production line, while busy robots carrying components weaved around.

each day more than 2,000 sets of power batteries were turned out, which would be used for nearly 200 electric vehicles.

The scene is a sharp contrast to three years ago when production of the line was suspended from time to time in the Tianjin Lishen Battery Joint-Stock Co., Ltd. due to an order shortage.

Lishen started providing power batteries for the Dongfeng Motor Corporation four

years ago, delivering about 53,000 sets by last year. In 2023 alone, however, it is estimated that 45,000 sets will be supplied.

“We didn’t stop working even during the Spring Festival holiday,” said Zhao Xiaojun, deputy head of Lishen’s power battery manufacturing department.

“Now that we are no longer worried about order shortage, we fear that we couldn’t complete the orders on time.”

Lishen is just one of the examples to show the resilience of the Chinese economy after the country relaxed its COVID-19 restrictions late last year.

According to statistics by the China Association of Automobile Manufacturers (CAAM), in 2022, output and sales of new energy vehicles in China were 7.06 million

and 6.89 million, up 96.9 percent and 93.4 percent, respectively.

The International Monetary Fund (IMF) has lifted its forecast for China’s economic growth this year to 5.2 percent from a previous prediction of 4.4 percent.

Behind economic resilience is the ability of risk resistance. Suppliers for Lishen are mostly domestic companies. Last May when the consignments were hindered by the COVID-19 pandemic, local authorities in Tianjin helped to arrange for closed-loop delivery so as to ensure production in Lishen.

“If we stop our production, the loss per day would be as much as 30 million yuan (about 4.4 million U.S. dollars),” said Zhao.

In 2022, in spite of the pandemic, the

revenue of power batteries in Lishen soared by 76 percent.

The high-tech industry is an important driver of economic growth.

According to China’s State Council Information Office, last year’s investment in high-tech industries witnessed rapid growth, up 18.9 percent from the previous year. The growth rate for high-tech manufacturing was 22.2 percent, and the rate for high-tech services was 12.1 percent.

Another Tianjin-based company, TCL Zhonghuan Semiconductor Co., Ltd., is working on its new project, producing a solar ultra-thin single wafer of 25 GW used for the transformation of light into electricity. Zhang Xuenan, deputy chief engineer of the company, told Xinhua that once in full operation,

the project could generate a revenue of billions of yuan, creating jobs for thousands.

“This project is another example of China’s economic growth potential,” said Bo Wenguang, vice president of the Binhai Development Research Institute of Nankai University. “The potential is gradually expanded and unleashed.”

Two new projects are under construction in Lishen, with investment for each topping ten billion yuan. A third one is being discussed. Once in operation, their combined production capacity could be at least ten times the company’s current capacity.

“I’m sure that constant innovation, research, and development could keep injecting impetus into our company,” said Lishen’s general manager, Zhang Qiang.

CPJ slams Indian authorities for harassing journalists as Income Tax officials raid BBC offices

ROSSOUW, IHSANULLAH LEAD MULTAN SULTANS TO EMPHATIC WIN OVER GLADIATORS

MULTAN STAFF REPORT

CLINICAL Multan Sultans

Wednesday defeated Quetta Gladiators by nine wickets in the third match of the ongoing eighth edition of the Pakistan Super League (PSL) at the Multan Cricket Stadium.

Explosive batter Rilee Rossouw led the charge for the Sultans as they easily chased down 111 runs with 39 balls in hand.

Impressive Rossouw brought up his eighth PSL 50 off 33 balls to help Sultans finish off the job with the bat. He scored 78 not-out off just 42 balls laced with nine boundaries and three maximums.

It was Ihsanullah’s day today as the 20year-old bowler took five wickets to help Sultans bowl out Gladiators for 110. Ihsanullah shined brightly with his speedy deliveries and bagged back-to-back wickets to dominate in just his second match of the

debut PSL season. He claimed five wickets and conceded just 12 runs in his four overs.

Apart from Ihsanullah, Sultans’ other two pacers, Sameen Gul, and Abbas Afridi gave their side an early boost by claiming a wicket each. Sameen struck in his first over as aggressive batter Martin Guptill was sent packing after scoring seven runs.

The next to fall was Abdul Wahid Bangalzai, who was caught by mid-on fielder Kieron Pollard off Abbas Afridi.

Meanwhile, Quetta lost Sarfaraz Ahmed after Ihsanullah bowled a fiery delivery to topple the stumps. The skipper went back after scoring only two runs.

Ihsanullah struck again in his second ove, as he sent destructive batter Jason Roy packing after scoring 27 runs.

The tall bowler continued to impress with his fiery pace. He trapped in-form

Iftikhar Ahmed for an lbw.

After all three pacers played their part, Usama Mir delivered for the home side, trap-

ping Mohammad Nawaz for an lbw on the last ball of his second over, reducing Quetta two 66-6 in 12 overs.

The Gladiators lost one more wicket to none other than Ihsanullah, who bowled a deadly bouncer that hit Umar Akmal’s bat and was caught behind by Mohammad Rizwan. The right-arm pacer finally completed his five-for after bowling out Naseem Shah (1) with a brilliant delivery.

Despite having some top batters of the format, Mohammad Hasnain was the second top-scorer for Quetta, gathering 22 runs off 20 balls before being sent back to the pavilion by Sameen.

Quetta’s innings ended after veteran batter Mohammad Hafeez fell to Abbas after scoring 18 runs. While chasing, Sultans lost Shan Masood earlier but Rossouw and Rizwan carried the innings superbly. Nuwan Thushara gave Gladiators an early breakthrough as he sent opener Masood back to the pavilion.

7th national cycling C’ship to begin tomorrow

PESHAWAR AGENCIES

The 7th edition of the National Road Cycling Championship Men/Women, Elite/Junior competitions are going to start from February 17 under the aegis of Khyber Pakhtunkhwa Cycling Association and with the collaboration Pakistan Cycling Federation (PCF) on Northern Bypass here.

This was stated by President Pakistan Cycling Federation (PCF) and South Asian Federation Syed Azhar Ali Shah here at the Conference Room of the Directorate General Sports Khyber Pakhtunkhwa. President KP Cycling Association Nisar Ahmad, international technical official Sarmad Khan were also present. The championship will continue up till February 20 in which more than 110 national and international cyclists from all 12 unites including Pakistan Army, Wapda, Pakistan Railways, Crank Addicts, SSGC, PCF Technical Official team, POF Wah, Bikestan Cycling Academy, Gilgit-Baltistan, Islamabad, Azad Jammu and Kashmir, Punjab, Sindh, Balochistan, Khyber Pakhtunkhwa.

Syed Azhar Ali Shah said that these races in different categories including

Road Time Trials Individual and Team events of both Women and Men would start on the Northern Bypass Road (Motorway) Peshawar for which all preparations and arrangements have been completed.

The arrival of the teams will be completed by Wednesday and on February 16 a practice round would be held before the opening of the races in the morning at 8 a.m. This is a circuit race which is being played under Asian and UCI rules, Azhar Ali Shah said.

There will be a loop of 13.5 km, PCF

Top seeds move to semi finals of ‘ITF World Junior Tennis Championships’

ISLAMABAD AGENCIES

All the seeded players moved into the semi-finals of both Boys Singles and Girls Singles events of ITF Pakistan PPL – Syed Dilawar Abbas World Junior Tennis Championships 2023 after beating their respective opponents in the quarterfinal stage at PTF-SDA Tennis Complex Islamabad on Wednesday. Only one upset was caused by unseeded Yejun Lee of Korea when she eliminated the 7th seed of Maia Visan of Romania in the Girl’s Singles quarter-final 6-1 60. Yerzhan Kistafin Ambassador of the Republic of Kazakhstan to Pakistan visited PTF Complex to witness some of the matches. He appreciated the high standard of tennis and also interacted with players and parents from his home country as well as other countries. Senator Taj Haider also visited PTF Complex and interacted with the players, coaches and parents and appreciated the efforts of PTF for conducting International tournaments in a highly befitting manner.

The following are the results: Boys Singles Quarter-Finals: Cem Atlamis (TUR) bt Jihwan KIM (KOR) 6-0,6-4: Yuan Lu (CHN) bt Dogan Can Sipahioglu (TUR) 6-0,6-2: Bugra Ozkoc (TUR) bt Edward Kruppe (CAN) 6-0,7-5: Kamonpanyakorn Thadpong (THA) bt Mahatir Muhammad (PAK) 5-7,7-6(3),6-2: Girls Singles Quarter-Finals: Yejun Lee (KOR) bt Maia Visan (ROU) 6-1,6-0: Vlada Guryleva (RUS) bt Jinshu Xia (CHN) 5-7,6-0,6-4: Zeynep Erbakan (TUR) bt Pitchayapak Srimuk (THA) 6-2,6-2: Defne Erbkan (TUR) bt Lilya Piskun (RUS) 3-6 6-1 6-3.

Boys Doubles Quarter-Finals: Keagan Jonathan (MAS) / Jihwan Kim(KOR) bt Ahmad Nael Qureshi (PAK) / Krittamaet Thammakun (THA) 6-3,7-5: Cem Atlamis (TUR) / Mikhail Khodorchenko (RUS) 1-6,7-5(10-6): Mahatir Muhammad Khan (PAK) / Nadir Mirza (PAK) bt Asad Zaman (PAK) / Boda Zheng (CHN) 6-2, 6-2: Yash Bahalkar (GBR) / Hamid Israr Gul (PAK) Vs Teetawat Tavachphongsri (THA) / Kamonpanyakom Thadpong (THA) (in progress).

President Syed Azhar Ali Shah said. Cycle races were organized in which DUCI changed the rules and separated the road and track races. Now it is our 7th year that we are organizing a separate national road race, he said. “We have not got any special sponsors from other organizations and only Pakistan Sports Board (PSB) has extended a support to the federation.” He said that races are being organized under different categories. He said that this race is also very important for the International Road Cycle Race to be held in

Thailand in June because out of the race, a team of Pakistan would be short-listed purely looking after the performance of the cyclists.

Athletes from all over the country will be judged and a team will be prepared consisting of athletes who give the best performance in this competition, Shah said.

PCF President said that no progress has been made yet regarding the velodrome to be built in Peshawar. The velodrome should be prepared with the help and consultation of the international technical officials of the world body. Shah said that there are thirty-five velodromes in India and unfortunately, we have only velodrome in Lahore.

He said that due to lack of funds and politics, the construction of the velodrome could not be started yet, which is very regrettable. In the sports in which we are ahead, the infrastructure should be all over the country. He said that some people are still a hindrance in the development of cycling.

Shah said that even before the international cycle race in Pakistan, tourism had been greatly promoted and now the proposals for the international cycle race have been sent to the government.

PSG left looking to Mbappe to keep Champions League hopes alive

PARIS

AFP

Paris Saint-Germain were deservedly beaten by Bayern Munich in the first leg of their Champions League last-16 tie on Tuesday, but Kylian Mbappe’s cameo on his return from injury gives them reason to believe they can still prevent another premature exit from Europe’s elite club competition. Mbappe did not look like a player who had been brought back much earlier than expected following a thigh injury as his electrifying pace caused panic in the Bayern defence when he came on for the final half-hour.

The France superstar could not inspire a comeback as Bayern left the Parc des Princes with a 1-0 win, but only a brave Yann Sommer save and then a marginal offside call denied him an equaliser. “We only lost 1-0, there are no more away goals, and if we play our attacking game, cause them problems and score once, we’ll be level,” Mbappe said as he looked ahead to the return leg in Germany on March 8.

“We are not beaten, not at all. We still have every chance.”

However, what Tuesday’s game confirmed was the extent to which PSG are dependent on Mbappe, despite the presence of Lionel Messi and Neymar in their attack as well.

Messi and Neymar struggled to

have any real influence on the game in the first 57 minutes before Mbappe came off the bench, by which time Kingsley Coman had put the away side ahead.

The Argentine may have just inspired his country to World Cup glory and Neymar may still be the world’s most costly footballer, but there was a reason why PSG were so desperate to keep Mbappe last year when it seemed certain he would join Real Madrid. “When he came on Mbappe completely lifted the atmosphere in the stadium and that also gave the other players a lift,” admitted Bayern coach Julian Nagelsmann. “It is clear that Kylian Mbappe can change any game.”

The 24-year-old, scorer of seven goals in six matches during the group stage, now has three weeks to get back to full fitness and try to lead PSG into the quarter-finals.

Failure is almost unthinkable for a club who have never won the Champions League despite all the investment of their Qatari owners over the last 12 years, and who have gone out of the Champions League in the last 16 in four of the past six seasons.

Qatar’s emir watches on: Qatar’s emir, Sheikh Tamim bin Hamad AlThani, was in attendance at the Parc des Princes to watch PSG suffer a third consecutive defeat, the first time that has happened since 2011, just after the Gulf state’s takeover of

Urvashi Rautela wishes Naseem Shah on his birthday

LAHORE STAFF REPORT

the club.

His presence came amid intensifying speculation that Qatari investors are looking to buy Manchester United.

Whether such a move could have any impact on PSG remains to be seen, but the French champions need to turn things around in Munich next month to avoid the sense that the Qatari project is seriously stalling. After all, they may be five points clear of Marseille at the top of Ligue 1 despite a recent slump but domestic success alone is not enough.

Nevertheless, the emir cannot failed to notice that neither nor Neymar could make a serious impact on Tuesday’s match — both were given a rating of three out of 10 by sports daily L’Equipe, as was midfield lynchpin Marco Verratti.

Messi and Neymar create another problem — their lack of running and tracking back needs to be compensated by their teammates.

According to UEFA, Bayern’s team ran nearly eight kilometres more than PSG, almost as if they had an extra player despite the Bundesliga leaders finishing the match a man down after Benjamin Pavard was sent off.

“Obviously we have identified that problem but we can’t change the characteristics of the players,” acknowledged Paris coach Christophe Galtier.

Bollywood actress, Urvashi Rautela raised eyebrows as she posted a birthday message for Pakistan pacer, Naseem Shah. The pacer celebrated his 20th birthday today, by cutting a cake alongside his Quetta Gladiators’ teammates. Rautela posted a comment on Naseem’s Instagram picture, in which the pacer had congratulated Shadab Khan on his wedding. The actress also congratulated Naseem for being conferred with an honorary DSP rank in Balochistan Police. “Happy Birthday Naseem Shah. Congratulations on being conferred with honorary DSP rank,” commented Rautela. Naseem also acknowledged Rautela’s greeting, and commented,” Thank you”. Last year, Rautela had shared an Instagram reel featuring Pakistan pacer after the Asia Cup game on September 4. In a video, Rautela could be seen enjoying the India-Pakistan match and there were some glimpses of Naseem Shah in the video shared by her with Atif Aslam’s ‘Koi Tujhko Na Mujhse Chura Le’ playing in the background. The clip went viral, and she deleted it, but users ensured it went viral. Naseem was asked about the Indian actress, to which he replied that he is unaware of Urvashi. “I am smiling at your question. I don’t know who Urvashi is. I only focus on my match. People usually send me videos but I have no idea. I have nothing special in me but I thank people who come to watch cricket and give a lot of respect,” Naseem said. Meanwhile, Urvashi Rautela clarified the viral video on her Instagram story, stating it was nothing but “fan made cute edits.” She further asked the media to refrain from making any news out of it. On the other hand, Pakistanis were quick enough to find that Urvashi was following Naseem Shah on Instagram, however, she unfollowed the Pakistan pacer after the latter disclosed he doesn’t know who Urvashi really is. Now it seems that both of them are aware of each other and are on cordial terms.

Saudi Arabia to host 2023 World Club Cup

PARIS AFP

Saudi Arabia will host the 2023 World Club Cup, FIFA said on Tuesday. Saudi club Al-Hilal reached the final of the 2022 edition in Morocco last week, losing 5-3 to European champions Real Madrid. The seven-team event will take place on December 12-22. Saudi Arabia is believed to be building towards a bid to host the 2030 World Cup, having seen neighbours Qatar host last year’s tournament.

OGRA nOtiFies Rs2/KG HiKe in LPG PRice FOR cuRRent FORtniGHt

ISLAMABAD

ahMad ahMadani

AFTERa hike in the sales tax, the Oil and Gas Regulatory Authority (OGRA) has jacked up the price of liquefied petroleum gas (LPG) by Rs 2 per kg for the last 15 days of February 2023, and issued a notification in this regard.

According to the OGRA notification, LPG price has been fixed at Rs 266/kg after witnessing a hike of Rs 2/kg while the price of domestic cylinder has been increased by Rs 27 and commercial cylinder by Rs 102 for the second half of February 2023.

Following the issuance of the

OGRA notification, effective from February 15, LPG will be available at Rs 266/kg, domestic cylinder will be available at Rs 3,141.29 and commercial cylinder at Rs 12,086 in the open market of the country.

Advising all the district presidents of LPG Associations to stage protests against the LPG price hike, Chairman LPG Association Irfan Khokhar said that this is unbearable. He said that instead of giving relief the government has imposed more taxes while a billion rupees subsidy is being offered on imported LNG.

He added that this is the second increase in LPG price during the month of February. He explained that this is a

Back to back price increases by Atlas Honda in February

PRICE GOES UP TO RS35,000 TWO WEEKS AFTER LAST HIKE

daniyal ahMad

Atlas Honda has introduced their second price increase for 2023 two weeks after their previous price increase on February 1. The new prices are as follows: “It is a mix of factors. Today’s tax increases, the increases on completely knocked-down (CKD) kit duty, and the 1% increase in sales tax are the reasons,” Muhammad Sabir Sheikh, Chairman of the Association of Pakistan Motorcycle Assemblers (APMA), tells Profit. The price increase marks the fifth price increase by Atlas Honda for FY23. The price increases have led to a 23% Year-on-Year (YoY) decrease in Atlas Honda’s 7MFY23 sales as its current 612,817 units sold trail by 185,840 units behind the 798,657 units it sold over the same period last year based on sales data provided by the Pakistan Automotive Manufacturers Association (PAMA) The fall in sales has resulted in a Rs 431.5 million dip in profits across Q1FY23 and Q2FY23 compared to the same period last year. However, the price increases have mitigated the losses that Atlas Honda could have incurred. Honda Atlas’ sales across Q1FY23 and Q2FY23 also amount to a 23% dip, but they have only reduced their net earnings by 16% over the same period compared to last year based on their quarterly earning reports. Furthermore, despite the price increases, Atlas Honda retains its dominance across the two-wheeler market. The company accounts for 85% of all sales in the two-wheeler market based on the 7MFY23 sales figures provided by PAMA. Looking ahead, Sheikh tells Profit to expect further price increases by Atlas Honda, “Maybe a little more due to increase in taxes”. Sheikh also tells Profit that he expects these price increases to happen, “immediately”.

cigarette prices to go up by over 250pc

big blow to the inflation-hit masses that are already bearing the brunt of skyrocketing prices of essential commodities, significant increases in transportation charges and the sky-high prices of the petroleum products in the country. He said that the government should take solid measures to reduce peoples’ problems by improving economic conditions.

Furthermore, he highlighted the importance of relief, saying the government in order to provide some respite to the public should immediately allow the LPG plant of Jamshoro Joint Venture Limited (JJVL) to start production. This has been closed for the last 32 months and has so far caused a revenue loss of

approximately Rs 157 billion. According to him, around 5000 metric tonnes of LPG is being consumed on a daily basis in the country while the daily consumption of the LPG is around 2000 metric tonnes, and the LPG plant of JJVL alone can produce 550-570 metric tonnes of LPG on a daily basis. Owing to widening gap in the demand and supply of local LPG, around 60% of the total needs of LPG is being fulfilled through imported LPG.

These historic highs in LPG prices are unbearable for those who live in remote hilly areas and use this as fuel for lightening, heating or cooking purposes in case of absence of other resources, he added.

Intermarket Securities keen to acquire 51pc shareholding in EFG Hermes Pakistan

ISLAMABAD

MuhaMMad Raafay Khan

Intermarket Securities Limited, a Karachi-based brokerage firm, is looking to acquire a majority controlling stake in EFG Hermes Pakistan Limited (EFGH). The announcement comes after Cairo-based EFG Hermes Holding, the parent company of EFGH, is looking to exit Pakistan, Jordan, and another unnamed market in order to streamline its global operations.

In a notification to the Pakistan Stock Exchange (PSX), EFGH announced, “Multiline Securities Limited … has announced that on behalf of Intermarket Securities Limited (herein referred to as the “Acquirer”), it has submitted the Acquirer’s public announcement of intention to acquire at least 51% shareholding and control of EFG Hermes Pakistan Limited.”

After the announcements by JS Global Capital Limited (JSGCL) and AKD Group last month, Intermarket Securities becomes the third firm which is looking to acquire EFGH. On January 17th, JSGCL announced its intention to acquire a 51% stake in EFGH. The board of JSGCL provided their “in-principle consent and approval to invest into and acquire majority shares and control of EFG Hermes Pakistan Limited”, subject to regula-

tory approvals. On the next day, Topline Securities, on behalf of the AKD Group, also announced its intention to acquire a 51% majority stake in EFGH.

EFG Hermes Holding (Egyptian Financial Group Hermes Holding Company) is a leading financial services company present in the Middle East, North Africa, Sub-Saharan Africa, and South Asia regions. It started in Egypt in 1984, and in 30 years expanded to UAE, Saudi Arabia, Oman, Kuwait, Jordan, Kenya, Nigeria, UK, US, and Pakistan.

The company specializes in securities brokerage, asset management, investment banking, private equity and research in addition to finance lease, factoring, microfinance, financial technology, mortgage, and insurance.

When the company inaugurated its office in Pakistan in 2017, it became the first foreign investment bank to directly enter the market since 2008 and the first foreign broker to have a local footprint in Pakistan. The firm acquired Pakistani brokerage Invest and Finance Securities Ltd. (IFSL), which was operating since 1999, and renamed it as EFG Hermes Pakistan Limited.

EFG Hermes looks to exit Pakistan and Jordan

Last month, EFG Hermes Holding announced it was pur-

suing exit options from two markets namely Pakistan and Jordan, and is currently in advanced stages of agreeing on an exit from a third market that is yet to be announced.

The move comes in light of EFG Hermes’ efforts to drive shareholders’ value as it continues to look at simplifying its operations and directing its resources to opportunities aligned with its core strength, according to a press release.

EFG Hermes said: “Given our strong belief that these markets’ economic and capital markets potential remains very high, EFG Hermes will remain committed to serving its institutional clients base pursuant to our expected exits.”

The financial services firm also added that the exit from Pakistan and Jordan will not have any material impact on its revenues, as their combined revenues represented less than 1% of the Group annual revenues.

The company further stated that it remains strongly committed to the remaining core markets in which it operates, noting that it enters 2023 with a balance sheet that is extremely healthy with a net cash position that will be positively impacted by the exits. The three contemplated exits will have minimal impact on the company’s 2023 financial statements, EFG Hermes revealed.

ISLAMABAD

GhulaM abbas

The tobacco sector has been at the hit list for the government’s increasingly higher revenue collection needs, by paying higher taxes. The fresh massive strike of around 153 percent Federal Excise Duty (FED) rates on cigarettes is going to cause around a 250 percent increase in the prices of cigarettes, produced by legitimate companies.

Apart from the major hike in prices of cigarettes, the supplementary finance bill, which was tabled in the parliament today by the finance minister, also suggests to increase the sales tax. That coupled with the excise duty is more likely to boost the existing business of illicit cigarettes contributing nothing to the national exchequer.

It ought to be mentioned here that the Federal Board of Revenue (FBR), on Tuesday has notified the FED increase on expensive brands from Rs6.5 per cigarette to Rs16.5 – an increase of 153%. For less expensive brands, per stick increase is from Rs2.55 to Rs5.05 – an increase of 98%.

Reacting to the huge jump in FED, one of the major multinational tobacco firms in Pakistan, Philip Morris Pakistan Ltd, has claimed that the latest increase of FED on cigarettes by greater than 150% will result in a price increase of more than 250%, as compared to the prices of the cigarettes in financial year 2022 (Q1, 2022).

“The proposed unprecedented tax hike for the taxpaying tobacco companies will effectively favor the already vast illicit cigarette manufacturers in Pakistan. This will also lead to significant shortfalls in Government revenue as the volumes will massively shift from the tax-paid sector to the nontax-paid sector, as it has often been seen in the past, “said spokesperson Philip Morris Pakistan Ltd in a statement.

As per the company, during the period 2019-2021 the FED increase was to the tune of 26%. During the current fiscal year 2022-23, FED on cigarettes was already increased by 25% in an earlier development.

According to cigarette industry sources, the legitimate industry has been very clear on the stance that excise led price increases give rise to the sales of the illicit cigarette sector which still continues to operate in Pakistan.

As per details, there are more than 200 illicit cigarette brands being produced by over 40 companies in KPK and AJK. These companies are selling their products in a price range of Rs 35 to Rs. 60 per cigarette pack. They continue to openly flaunt the minimum mandated price law, which clearly states that cigarettes cannot be sold for less than Rs. 70 per pack of 20 cigarettes. But because these companies are not under the radar of the government, they get away with the violation. The legitimate industry on the other hand, has to ensure compliance to the fiscal law and increases the price of cigarettes, which results in consumers down trading from legitimate company brands to illicit sector brands. As a result, sales of illicit/undocumented brands increase. Currently, this loss is estimated at more than Rs. 70 billion/year according to various tobacco brands.

Int’l airlines ditch local travel agents to circumvent govt restrictions

International airlines have resorted to pricing out local travel agents in a bid to encourage purchases through credit cards, and international travel agencies.

The rationale for this is to circumvent the restrictions on repatriating their profits levied by the government as a means to keep the rupee afloat. Airlines have sought to tempt customers by offering different prices to local travel agents in a bid to price them out, and redirect spending.

“They have stopped locally selling their tickets due to their issues with the Government over being able to repatriate their earnings back to their home countries,” says Yousaf Rizvi, the former Vice Chairman of the Travel Agents Association of Pakistan. “They have blocked access to the normal sellable fares and instead given agents access to only those fares that are unsellable. They are trying to force customers to use their credit cards, or arrange for their transactions outside of Pakistan,” Rizvi continues.

The two leading airlines that have adopted this are Emirates Airlines and Turkish Airways according to Rizvi. Profit visited various travel agencies across DHA and Gulberg in Lahore to confirm that these two are in effect the ones utilising this practice. No discrepancy could be found with any of the other larger airlines. Profit compared the rates provided to us by local travel agents and the ones listed on the respective airlines’ website from Lahore to both airlines’ respective hubs. The differences are as follows:

What does repatriating funds even mean?

Airlines typically price and sell tickets in the currency of the country in which they are being sold. The local currencies are then converted into their main operating currencies before it can be repatriated.

Why are airlines angry over not being able to repatriate funds?

Funds become ‘blocked’ overseas when in certain markets airlines are unable to source the foreign exchange they need to convert their local currency revenues.

The International Air Transport Association (IATA), the trade association for the world’s airlines which represents some 300 airlines or 83% of total air traffic, alleged that the Government of Pakistan has blocked foreign airlines from repatriating $225 million in funds.

The allegation was made by Willie Walsh, IATA’s Director General, on December 7. The allegation was made in a bid to convince the Government of Pakistan, and those in other similar countries such as Nigeria and Bangladesh, to end their practice. The Government of Pakistan has clearly not listened, and thus forced airlines to take matters into their own hands.

How are airlines offering these dual rates to customers?

Understanding how this works requires an explanation of how airlines price their seats to begin with. Airfare pricing is a complex process involving technological systems and human decision-making. A passenger’s fare price is influenced by several factors, leading to significant pricing differences even among adjacent seats.

To meet financial targets, airlines create different fare classes for each flight, which can be challenging for even experienced frequent flyers to understand. Essentially, fare classes segment each seat into specific categories with varying prices and rules, identifiable by one-letter fare codes. While some fare classes and codes are universal, others are specific to individual airlines. The following are a few codes that are used commonly across a myriad of airlines:

F and A: First Class.

C, J, R, D and I: Business Class. W and P: premium economy.

Y, H, K, M, L, G, V, S, N, Q, O and E: Economy.

B: Basic economy. A Lahore based travel agent elucidates upon the matter in simpler terms. “There is no difference in the quality of the seat you get within a fare class. The best way to imagine it is looking at the differences in price two individuals sitting next to each other might pay, if one of them bought their tickets six months ago whilst the other bought it the week of their flight,” he tells Profit.

So what have airlines done? Profit interviewed another Lahore-based travel agent to understand the matter. “They have set a fare category floor, below which they will not allow access to Pakistani based travel agents. Travel agents have, therefore, had to stock their inventories with higher category fare classes, rather than the usual mix of low fares,” he tells us. “International travel agencies will be able to manage. The ones that are local, wo becharay phas gaye hain,” he continues. This sentence is important because, outside of credit cards, international agencies retain access to the lower fares because this is a geographic restriction placed by the airlines.

Who are the international travel agents then? Travel agents with Travel Industry Designator Service (TIDS) codes for countries outside of Pakistan. “Travel agencies who are accredited in the international market, those who are either part of or have international chains,” explains the second travel agent to Profit. In simpler terms, it is companies.

OVER 150% FED TO FACILITATE BUSINESS OF ILLICIT CIGARETTES

LAHORE