Epaper_23-02-22 LHR

NAB chAirmAN resigNs After ‘refusiNg to tArget’ imrAN

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PROFILE: Su tan who be ongs to the fourth police common, thrice ser ved as the IB chairman most recently between June 2013 and April 2018 and before that remained head of the Punjab police from April to May 2013 In Februar y 2018 Khan accused him of ass sting the Pakistan Musl m League-nawaz (PML-n) n select ng its cand dates for the genera elections

Su tan, Khan had sa d, was a “ member ” of the Sharif fam ly s “gang ” , which was why he had been given an extension of ser v ce for a third time He alleged the IB ch ef had been told by the PML-n leadership to m nutely obser ve which PML-n candidate could w n their constituencies

Govt maintains additional customs, regulatory duties on imported cars

iSLAMABAD s ta f f r e p o r t

Aftab Sultan, chairman of the nat ona Accountability Bureau (nAB) has resigned from h s position reportedly after refusing to comply w th the Pak stan democrat c Movement (PdM) government which had allegedly asked h m to arrest former prime minister Imran Khan S u l t a n a f o r m e r d r e c t o r- g e n e r a l o f the Inte ligence Bureau, was appo nted to the post in July of last year for a none x t e n d a b l e p e r i o d o f t h r e e y e a r s b u t c a m e a t o d d s w i t h c e r t a i n q u a r t e r s o f the state apparatus which prompted h s departure According to geo news Sultan was asked to per form “certain [tasks] wh ch were not acceptable to me following which he tendered his res gnation to the prime minister

I had resigned from office a few days ago I told them that I can’t continue with the condit ons Aftab Sultan told a private TV channel Sources revea ed that Aftab Sultan resigned from h s office after he was asked to do certa n things which were not acceptab e to him ”

Journalist Mubashir Zaidi said the former policeman resigned primarily because he refused to bui d a case aga nst

the chairman of the opposition Pak stan Tehreek-i-Insaf (PTI) party

I told them that I cannot cont nue w th the cond tions My resignation has been accepted and t comes to an end on a pos tive note Sultan said as reported by geo news “ The prime m nister expressed good wishes for me and I also have good wishes for him

Separate y, a statement issued by the Prime Minister s Office (PMO) read Sultan had presented his resignation to Shehbaz Sharif, cit ng personal reasons “ The prime minister appreciated the ser vices of Mr Aftab Sultan and auded his honesty and uprightness upon his insistence the prime min ster re uctantly accepted the resignation of Mr Su tan,” t added

Responding to the development Fawad Chaudhr y sen or v ce president of the party, said the move s a big step towards the collapse of the fascist system a reference to the government Sultan resigned due to [po itical] inter ference in h s work I call on those 22 c vi ser vants [who the party c a ms are biased against it] who have been appointed to nter vene in Punjab [on behalf of the federal government] to separate themselves from this regime It is in the interest of both the countr y and the civil ser vice,” he tweeted

Interestingly at the time of his appointment Su tan h mse f was a suspect in a reference that the d rty money watchdog approved n 2020 aga nst former prime minister nawaz Sharif for the “ i legal ” purchase of 73 h gh-security vehicles for the security of foreign dignitaries

The suspects are accused of favouritism and llegal use of vehicles caus ng a loss of over Rs1 952 million to the national exchequer NAB suMMONs IMRAN, sPOusE, PTI LEAdERs ON MAR 9: The national Accountabi ity Bureau (nAB) has summoned Bushra Bibi the wife of former prime m nister Imran Khan, and other Pak stan Tehreek-e-Insaf (PTI) eaders in the Toshakhana case on Tuesday Accord ng to deta ls, the accountability watchdog summoned Bushra Bibi and three other PTI leaders – Shah Mehmood Qureshi, Fawad Chaudhr y and Per vez Khattak – on March 9

According to sources, the nAB has decided to send the nvestigation team to united Arab Em rates (uAE) for probe into Toshakhana case

Ear ier in the day the national Accountabil ty Bureau (nAB) summoned former prime minister Imran Khan in Toshakhana case on March 9 The PTI cha rman has been asked to appear before the anti-corruption watchdog on March 9 at 2:30 pm

Former Punjab chief minister Chaudhr y Per vaiz E ahi on Tuesday announced join ng the PTI along with ten other former MPAs of the Pak stan Muslim Leaque-Qua d (PML-Q)

Addressing a press conference in Lahore alongs de PTI Vice President Fawad Chaudhr y Elahi said he had always stood w th former prime m nister Imran Khan during hard and test ng t mes “ Per vaiz E ahi s quitting the PMLQ and is o ning the PTI Fawad Chaudhr y confirmed to the media

He sa d Ch per vaiz Elahi also met the PTI chairman in this regard adding that the party appreciates the role played by the PML-Q

Per vaiz E ahi has the support of Moonis Elahi and Hussain Elahi too,”

he said and added: There were two opt ons- either to merge the PML-Q w th PTI or they jo n PTI ”

Fawad Ch welcomed the new PTI members in the party On the occasion, he also high ighted that no one knew the whereabouts of Zaigham Khan and Muhammad Khan Bhatti so far

We w i s t a n d t o g e t h e r w i t h t h e n e w P T I m e m b e r s, ” h e s a i d, a d d i n g t h a t E l a h s n a m e h a d b e e n a p p r o v e d f o r t h e r o l e o f P T I s c e n t r a p r e s i d e n t Ta king to the media Ch Per vaiz E ahi lashed out at Prime Minister Shehbaz Sharif for shutting down the health card He sa d no such step would be taken that harms the PTI ’s reputation adding that he will work

wherever Imran wishes for h m too

Responding to a question pertain ng to f he was given a h nt by the establishment to join PTI Elahi said: “ If the establishment has given a hint t s good I tr y that ever yone moves along together ” Elah earlier v sited and held a meeting w th Imran at h s Zaman Park residence that was attended by sen or party leaders from both sides Elahi had on Januar y 15 addressed a possible merger of the PML-Q with the PTI and said his party ’s decision wou d sur face after the r consu tative meeting to thrash out the proposal

At another point, Elahi was more cand d in his response say ng his son Moon s E ahi a so wanted both parties to merge and proceed in po itics with a consensus Any such merger will strengthen the party, Elahi had said

A day later on Jan 16 PML-Q President Chaudhr y Shujaat had sent a show-cause not ce to Elahi and suspended h s membership over h s comments regarding the party s possible merger with the PTI It said that the PML-Q as a pol i t i c a l p a r t y, h a s i t s o w n i d e n t i t y, v o t e b a n k p a r t y d s c i p l i n e a n d m a n i f e s t o w h c h w e r e a l l v olated by E ahi s comments If any o f t h e m w a n t e d t o j o i n a n o t h e r p a r t y t h e n t h e y s h o u l d r e l i n q u i s h the r pos tions and resign other wise the PML-Q wou d have no other opt i o n b u t t o a p p r o a c h t h e E l e c t i o n Comm ssion of Pakistan to de-seat them,” it had added

Govt expects rollover of funds within next few days

pR Ofit REpORt

The federa government is expecting a ro lover by the weekend as informed by secretar y finance to the national Assemb y Finance comm ttee on Tuesday

Secretar y Finance Hamid Yaqoob further stated that the government has met 90% pr or actions and s expecting staff level agreement any time He high ighted that Ithe nternational Monetar y Fund s (IMF) ma or cond tion about reforming power sector will be achieved with the help of Rs 170 bil ion tax collection Minister of State for Finance and Revenue dr Aisha ghaus Pasha assured the committee that the government has devised a plan aimed at mplementing macroeconomic and

structural po icies with a view to minimize economic imbalances, fostering long-lasting nclusive growth and generating employment opportun ties

She mentioned that the delay in the 9th review of the IMF was a result of a mutual agreement between the Fund and the government She also raised the issue of pending humanitarian aid assistance for flood-related incidents for the current fiscal year as well as those of prior ty rehab litat on expenditure, since September, 2022 ghaus apprised the committee to concentrate on assisting the Finance division in adopt ng measures related to structura econom c reforms strategies for mit gating circular debt and recuperating osses related to the power sector, and devising susta nab e economic polic es aimed at benefiting the

general popu ace of Pakistani soc ety

The committee suggested that the Finance div sion and the Federal Board of Revenue (FBR) formulate po icies to bolster domestic industries that rely on the mportat on of raw mater als from nternational markets and to a d importers in clearing their commodities from Custom Author ties during the meeting, the chairman of the FBR expressed confidence that the agency is pursuing the correct course of action to collect the anticipated tax revenue of Rs 7 47 tril ion for the present fiscal year

The Committee expressed its d ssatsfact on with the delay in appointing Heads for the national Bank of Pakistan (nBP) and Zara Taraqiat Bank Limited (ZTBL), which has remained unresolved for nearly a year

P M F O r I M P r O v E d P O w E r t r A N s M I s s I O N , lOAd MANAgEMENt AhEAd OF suMMEr

PR I M E Minister Shehbaz Sharif on Tuesday directed to take timely and effective measures to improve the power transmission and load management systems, ahead of the summer season The prime minister, chairing a review meeting to discuss power transmission and load management, asked the relevant departments to formulate a concrete and comprehensive plan before the onset of summer

He instructed to ensure early finalization of the strategy for better power transmission and load management ahead of summer

Qureshi, Asad umar offer to ‘surrender’ as PtI kicks off ‘Jail Bharo’ movement today

STAff REpoRT

In the first phase of the Pakistan Tehreek-e-Insaf ’s (PTI) “Jail Bharo Tehreek (court arrest movement)”, the party s senior leaders Shah Mahmood Qureshi and Asad Umar have voluntarily decided to surrender themselves to the authorities, Fawad Chaudhry said Tuesday Addressing a press conference in Lahore the PTI’s senior vice president said that PTI Vice Chairman Qureshi and PTI Secretary General Umar have announced voluntary surrendering before the law enforcers In the wake of sedition cases filed against his party leaders including Fawad Chaudhry Azam Swati and Shahbaz Gill, PTI Chairman Imran Khan on February 4 announced Jail Bharo Tehreek Fawad welcomed a statement reportedly issued by the ECP that the body was “ready to hold elections in 90 days” He termed the announcement “a right step in the right direction ” In the same breath, the PTI leader said that President Alvi set April 9 as the date for the general election in Punjab and Khyber Pakhtunkhwa the move rejected by the ruling alliance adding that the date could not be changed as per the Election Act and the Constitution A day after the Election Commission of Pakistan (ECP) excused itself from holding consultations with President Alvi on polls in the provinces, the head of state on Monday (yesterday) announced holding elections in the two provinces on April 9 Moving towards the upcoming elections in the country the PTI leader said that the party would start allocating tickets to the candidates from next week The PTI s election campaign will reach its peak when Khan will join it within one-and-a-half week Chaudhry said that Khan has directed the party to kickstart preparations for the upcoming elections He urged the PTI’s candidates to launch election campaigns in their respective constituencies The PTI would launch a countrywide public awareness campaign, he added Referring to the NAB’s notices to the PTI leadership in the Toshakhana scam Fawad said that the anti-graft watchdog’s chairman has exposed the government by tendering his resignation

Fawad demands new Opp leader in NA ahead of NAB chief’s ‘selection’

ISLAMABAD S ta f f R e p o R t

Pakistan Tehreek-e-Insaf (PTI) on Tuesday demanded appointment of new opposition leader in the National Assembly before selection of new chairman of National Accountability Bureau (NAB) PTI Senior Vice President Fawad Chaudhry announced the party s demand A new Opposition leader should be appointed and he should be from the PTI,” said Fawad Chaudhary while addressing a press conference The demand came after Aftab Sultan stepped down as the head of the anti-graft watchdog, the National Accountability Bureau, as he reportedly refused to toe the line The PTI welcomed the development terming it a major step towards the collapse of the current “fascist system” Fawad said that the new opposition leader should be appointed first and then the NAB chairman with his consultation He stated that no one would accept Leader of the Opposition Raja Riaz’s consultation, making it clear that if the NAB s chairman was appointed with consultation of the PTI dissident, it would be unacceptable as the Lahore High Court (LHC) already suspended the PTI lawmakers resignations Fawad said they wanted to empower the judicial system of the country The PTI leader stated that Jail Bharo Tehreek will start from Wednesday (today) and it will be based on peaceful protests

According to the reports, around 200 PTI leaders will surrender on the first day of the movement while youths and supporters of the party will also join the protest to be part of Jail Bharo Tehreek Earlier, PTI leader Fawad Chaudhry lashed out at the federal government for imposing massive tax on air tickets

Calling for minimum load shedding during the upcoming Holy Ramzan, the prime minister said it was pleasing that the proportion of alternative energy and local fuels was increasing for power generation reducing dependence on imported fuels and ultimately the import bill Prime Minister Shehbaz, who was given a briefing on power generation and load management called for urgent measures to fully operationalise the Haveli Bahadur Shah Power Plant He instructed the power and petroleum divisions and other relevant departments to improve cohesion and coordination for better power transmission and load management

During the briefing the prime minister was told that effective measures were being taken to put a minimum burden of the load shedding on the masses

Federal ministers Ishaq Dar Engineer Khurram

Dastgir and Marriyum Aurangzeb, Special Assistant to PM Jahanzeb Khan and senior relevant officers attended the meeting ‘ O v e r a l l p O l i t i c a l s i t u at i O n d i s c u s s e d’: Members of National Assembly Sheikh Rohale Asghar and Qaiser Ahmed Sheikh separately called on Prime Minister Shehbaz Sharif here in Islamabad on Tuesday They discussed overall political situation as well as matters pertaining to their constituencies Former MNA Hanif Abbasi also called on Prime Minister Shehbaz Sharif here in Islamabad on Tuesday ‘ at ta c k O n l e v i e s i n M a s t u n g d e n O u n c e d’: Meanwhile, Prime Minister Shehbaz

Sharif has strongly denounced the terrorist attack on levies check post in Mastung on Tuesday

Commiserating with the bereaved families the Prime Minister prayed for the martyred security personnel The Prime Minister also prayed for the early recovery of those who injured in the terror attack Shehbaz Sharif was appreciative of the resolve and determination of the security forces to root out the terrorists He said the entire nation salutes its martyrs In Balochistan, two levies personnel were martyred when unknown gunmen opened fire at Babri Check post in District Mastung on Tuesday

CM Balochistan forms JIT to probe Barkhan killings

QUETTA S ta f f R e p o R t

Balochistan Chief Minister Mir Quddus

Bizenjo on Tuesday formed a joint interrogation team (JIT) to probe the recovery of three bullet-riddled bodies from the Haji Kot area of Barkhan district in Balochistan

The CM’s notice came a day after the levies force recovered the dead bodies from a well in the district

The victims have been identified as family members of Khan Muhammad Marri a local tribesman who has accused Balochistan Minister for Communication and Works, Sardar Abdul Rehman Khetran of murdering his family members

Balochistan s Minister for Construction and Communications Sardar Abdul Rehman Khetran on Tuesday denied keeping a private jail after bullet-riddled bodies of a woman and her two sons were found from a well near his residence in the Barkhan district area last night The victims, a woman and two men, were identified by the police as Giran Naz age 40-45 wife of Khan Muhammad Marri and her two sons Mohammad Nawaz, aged 20-25, and Abdul Qadir aged 15-20

A press release issued by the police said the bodies, which were in sacks, were found yesterday (Feb 20) at around 8pm The station house officer (SHO) of Barkhan Police Station was informed about the corpses in the well As soon

as the SHO was informed about the incident, he immediately reached the site with his police party,” the statement said

The bodies were then recovered from the well and transported to Civil Hospital Barkhan They were identified by Abdul Qayoom Bijrani Marri whom the police described as an heir The bodies were handed over to him after the completion of legal requirements the press release stated Khan Muhammad the husband of the slain woman and the father of the brothers alleged that in 2019, his wife and seven children were imprisoned in Khetran’s private jail due to not testifying in a case conflict between Khetran and his son, Sardar Inam Khetran He said that a video of his wife had surfaced on a website after

which his family s bodies were found in a well in a far-flung area Khan Muhammad alleged that his family was killed after being tortured Sources was able to verify that the woman in the video was indeed Khan Muhammad’s wife one of the three victims A first information report (FIR) has so far not been registered

It added that on November 16 a police party comprising Barkhan superintendent of police (SP), sub-divisional police officer, deputy superintendent of police SHO and an Anti-Terrorist Force team raided the Haji Kot house of Balochistan Awami Party (BAP) spokesperson and Provincial Minister for Construction and Communications Sardar Abdul Rehman Khetran but no one was found there

Implementation of CPEC projects to be expedited

pR ofIT

a l J a z e e R a

India has invoked an emergency law to force power plants that run on imported coal to maximise output ahead of an expected record surge in power usage from mid-March through to mid-June, according to an internal power ministry notice seen by the Reuters news agency Many of India’s power plants that use imported coal, including those owned by Adani Power and Tata Power in the western state of Gujarat have not operated at full capacity recently because they have found it difficult to compete with power generated from cheap domestic coal Reuters reported last month on India’s plans to use the law to maximise coal power output

In the notice sent to all imported coal-based power plants, the ministry said it expects them to operate at full capacity and sell power to buyers on exchanges

India’s imported coal plants have a total capacity of 17 gigawatts The directive comes into effect on March 16, giving plants the time to import coal ahead of the expected surge in consumption It would remain valid till June 15

The variable tariff for these plants will be fixed by a government-appointed panel the notice said adding that the panel will use the index with the lowest cost of imported coal for calculating the variable tariff for every plant

The ministry expects a peak demand of 229 gigawatts in April and to address that, India would need to operate a thermal capacity of 193 gigawatts that month, the notice said India expects its power plants to burn about 8 percent more coal in the financial year ending March 2024, with increased economic activity and erratic weather to continue to boost growth in demand for power The emergency law has been invoked for the second time in as many years

pR ofIT R e u t e R S

India and Singapore launched on Tuesday a real-time link to facilitate easier cross-border money transfers between the two countries, the first such for the South Asian nation that is the world’s biggest recipient of remittances

Transfers of funds between the two countries will now be possible using just mobile phones due to the tie-up between India s Unified Payments Interface (UPI) and Singapore’s PayNow facility Such arrangements, which are a growing trend in Asia typically lower the costs of payments Singapore has already established a cross-border payments link with Thailand and is working on one with Malaysia, according to the website of the city-state s central bank

“This will enable people from both the countries to immediately and at low-cost transfer funds (by) j u s t u s i n g t h e i r m o b i l e p h o n e s I n d i a n P r i m e

Minister Narendra Modi said at a virtual event for t h e l a u n c h o f t h e s e r v i c e T h e l i n k a g e w i l l h e l p migrant workers professionals students and their families, said Modi

UPI is an instant real-time payments system, allowing users to transfer money across multiple banks without disclosing bank account details Similarly, PayNow is a service offered by participating

banks that allows sending and receiving Singapore dollar funds from one bank to another using a mobile number Singapore s Prime Minister Lee Hsien Loong told the launch event cross-border retail payments and remittances between the two countries currently amount to over $1 billion annually

“The UPI-PayNow linkage will grow in utility and will contribute more in facilitating trade,” Lee said India received $89 billion in foreign remittances in 2021/22, the highest ever in a year by any nation

The World Bank has projected that number to rise to $100 billion in the current year

“This interlinkage aligns with the G20’s financial inclusion priorities of driving faster, cheaper and more transparent cross-border payments the Reserve Bank of India (RBI) said in a statement

In the India-Singapore link, to begin with, State Bank of India (SBI NS) Indian Overseas Bank (IOBK NS), Indian Bank (INBA NS) and ICICI Bank (ICBK NS) will facilitate both inward and outward remittances while Axis Bank (AXBK NS) and DBS India will facilitate inward remittances, RBI added

For Singapore users, the service will be made available through DBS-Singapore (DBSM SI) and Liquid Group – a non-bank financial institution More number of banks will be included in the linkage over time, it added Initially, an Indian user can remit up to 60,000 Indian rupees ($725 16) a day

Pakistan and China on Tuesday reiterated to further expedite the successful implementation of ChinaPakistan Economic Corridor (CPEC) projects for the mutual benefit of the two countries The reiteration was made during the meeting of Charge’d Affairs, Embassy of the People s Republic of China Ms Pang Chunxue who called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, according to press statement issued by finance ministry The two sides also discussed the progress on CPEC projects and resolved to accelerate and enhance mutual cooperation They also discussed further deepening these ties in economic as well as financial sectors, the statement added On the occasion, the finance minister highlighted the long-standing and deep-rooted brotherly ties between both countries and shared that China and Pakistan had strong bilateral relations in a number of economic avenues He commended the support of Chinese leadership to Pakistan in its challenging times and shared various economic measures taken by the government to bring the economy on progressive path Ms Pang Chunxue appreciated the policy steps taken by the government for sustaining and boosting fiscal and monetary stability

Pakistan’s seafood expor ts to China register 42pc increase last year

BEIJING

Pakistan’s seafood exports to China have increased by 42% in 2022 as compared to the previous year This is due to the rising demand for seafood products in China, said Ghulam Qadir, Commercial Counsellor of Pakistan s Embassy in Beijing He said that Pakistan s seafood exports to China topped US$ 198 36 million in 2022, while in 2021 it was US$ 139 29 million, recorded in the data of the General Administration of Customs of the People’s Republic of China (GACC) “The increase in Pakistan’s seafood exports to China is largely attributed to the increasing demand for fish of the Chinese people and the growing popularity of Pakistani fish in Chinese restaurants This has led to a successive increase in Pakistani seafood exports every year since 2020 ” he said Qadir mentioned that as per GACC Pakistan’s export of frozen fish, (commodity code 03038990) to China crossed US$ 63 31 million in 2022, up from US$ 33 43 million in 2021 while in terms of volume, it is more than 30,637 8 tons in 2022 and 18,987 2 tons in 2021

I n d i a i nvo ke s e m e r g e n c y l aw to fo r c e

t r A d E r s r E s E N t u N N E C E s s A r y A C t I O N s , h A r A s s M E N t A N d I M P O s I t I O N O F h E Av

pESHAWAR

S ta f f R e p o R t

sA R H A D Chamber of Commerce and Industry (SCCI) president Muhammad Ishaq expressed resentment over unnecessary actions, harassment of the business community and imposition of heavy fines by government authorities concerned on pretext of enforcing policies

He stressed the dignity of the traders

community should be kept intact during actions by the government relevant departments/authorities, what, he said, the business community has played an important role in economic stability and improvement by paying various taxes

SCCI chief demanded to frame policies by making proper consultation with chambers and relevant stakeholders He furthermore asked to avoid taking steps which would cause a collision between the business community and government

shaban crescent sighted, shab-e-Barat on March 7

ISLAMABAD S ta f f R e p o R t

The crescent of Shaban-ul-Moazam has been sighted and the Shab-e-Barat will fall on March 7 The Ministry of Religious Affairs and Interfaith Harmony, in pursuance of the decision of Central Ruet-e-Hilal Committee, announced that the first of Shaban, 1444 AH shall commence from February 22 The Committee Chairman Maulana Syed Muhammad Abdul Khabir Azad while announcing the crescent sighting of Shaban, informed that the committee had received many a solid testimony of crescent sighting from various areas of the country Later on, he offered prayers for peace, progress and prosperity of the country and liberation of Indian Illegally Occupied Jammu and Kashmir (IIOJK) and Palestine and above all, for the earthquake victims of Turkiye and Syria

hike in FEd on cigarette helps cut its sales

LAHoRE

S ta f f R e p o R t

The rise in Federal Excise Duty (FED) on Cigarette and resultant price increase has reduced the sale of cigarette across Pakistan, according to merchants and wholesalers, who deem it a significant step towards reducing tobacco consumption and enhancing public health Retail vendors and wholesale dealers in urban areas said the move showed that low prices were also a major role in tobacco sales and welcomed the government’s commitment to protecting its citizens from the dangers of smoking Though it is a business loss for me but this continues to campaign for tighter tobacco control regulations to further reduce smoking rates in Pakistan, said Shafiq Ahmed, a seller in Islamabad On 14 February 2023 the government issued an SRO to increase FED The SRO claimed that taxes on locally made cigarettes have been updated and the FED has doubled the price of cigarettes (16500/- per 1000 cigarettes if the initial price on the package exceeds 9000 per 1000 cigarettes) He went on to say that the government of Pakistan may now inflate the national budget by billions of rupees as a result of this endeavour A wholesale merchant in Karachi agreed with him stating that they had seen a significant increase in tobacco demand and sales Smoking is a serious problem in Pakistan where millions of people are addicted to this terrible habit Smoking is a key cause of many diseases, including lung cancer, heart disease, stroke and other respiratory problems The World Health Organization (WHO) estimates that smoking kills around 166,000 people in Pakistan each year

This statistic is alarming and it needs immediate action to halt the nation’s tobacco pandemic Raising the price of cigarettes, according to social activists, is a tried-and-true method of reducing tobacco usage Cigarettes are more expensive as a result of this technique, which may discourage people from smoking particularly young people steps

being taken to end journalists’ problems: Marriyum

ISLAMABAD

S ta f f R e p o R t

Minister for Information and Broadcasting Marriyum

Aurangzeb said on Tuesday that the government was aware of the problems being faced by the journalist community and it was taking all possible steps to solve them The minister was talking to a delegation of the Murree Press Club which met her here During the meeting, the importance of tourism in Murree, Murree Press Club and other important issues including problems faced by journalists came under discussion The minister said the present coalition government fully believed in freedom of expression Marriyum said that practical steps were being taken for group insurance of journalists in the country

authorities concerned

Ishaq was addressing members during the visit of Khyber Pakhtunkhwa Food Safety and Halal Food Authority (KFS&HFA) Director General (DG) Shahrukh Ali Khan here at the chamber house on Tuesday

A p a r t f r o m t h e c h a m b e r ’s v i c e p r e s i d e n t E j a z K h a n A f r i d i , f o r m e r v i c e president Javed Akhtar Director Technical K F S & H FA A b d u l S a t t a r S h a h , D i r e c t o r O p e r a t i o n o f t h e f o o d a u t h o r i t y A l f t a b

y F I N E s

Hussain executive member of the chamber Naeem Qasmi, Hamza Ibrahim Butt, Laal Badshah, Munwar Khurshid, Salman Altaf, I h s a n u l l a h F a z l I Wa h i d Z a h o o r K h a n S a d d a r G u l , I s h t i a q M u h a m m a d , t r a d e r s , exporters attached with honey sector, office b e a r e r s o f d i ff e r e n t b a z a a r m a r k e t a s s o c i a t i o n s , r e p r e s e n t a t i v e s o f t r a d e r s ’ community were present in a large number on the occasion M u h a m m a d I s h a q a p p r i s e d t h e D G Shahrukh Ali Khan regarding reservations

o f b u s i n e s s c o m m u n i t y o v e r u n n e c e s s a r y a c t i o n s , h a r a s s m e n t a n d c o l l e c t i o n o f h e a v y f i n e s He said the economic conditions are already very fragile, saying that the situation has been further aggravating owing to antibusiness policies of the present government The SCCI president asked the government to take pragmatic steps to facilitate the business community and avoid enforcement of policies that would prove detrimental for business, trade and exports

Thousands of trucks loaded with goods stuck at Pak-Afghan border crossing

pR ofIT REpoRT

R e u t e R S

A key border crossing between Pakistan and Afghanistan remained closed for a third day, with thousands of goods vehicles stuck and businesses facing losses as officials from both sides try to broker a solution Taliban authorities on Sunday closed Torkham the main point of transit for travellers and goods between Pakistan and landlocked Afghanistan

The closure of the border crossing between Pakistan and Afghanistan has been causing losses to traders of the two countries There are long queues of heavy trucks stranded on both sides of the border said Zia Ul Haq Sarhadi, director of the PakistanAfghanistan Joint Chamber of Commerce and Industry He said up to 6 000 trucks loaded with goods had been

stuck on both sides since Sunday

The reason for the closure was not entirely clear, though officials on both sides have said they were in discussions to resolve the issue

The government in Islamabad has not commented publicly on the matter, Reuters said A Pakistani official source said they had not been told the reason ahead of the closure Sarhadi said Afghanistan relied on goods from Pakistan for much of its needs and many trucks were also destined for Central Asia using Afghanistan as a transit point

“The traders and particularly those supplying fresh food items such as fruits and vegetables are facing losses as trucks are stranded on the way for the past three days,” he said

Some trucks, he further said, had been diverted to another, smaller border crossing, but traders were worried about the security of truck drivers travelling to

that region The development came after the Afghan authorities on Sunday suddenly closed the border with Pakistan at Torkham after Pakistani authorities asked the attendants of an Afghan patient to come with legal travel documents for entry into the country

A senior government official at the Torkham border said, The Afghan border officials made it an issue, saying Pakistani authorities should allow the patients and their attendants without visas or legal travel documents to enter Pakistan for treatment in Peshawar or elsewhere ”

The decision to strengthen security measures by mandating Afghan citizens to carry travel documents was made following the Peshawar police lines suicide attack A government official speaking to The News said, Hopefully the border will be reopened by Tuesday (today) ” However, till the filing of this report, the border remains closed

Case put off till 23rd: Govt submits sealed record of Toshakhana in LHC

LAHoRE

The federal government on Tuesday submitted sealed r e c o r d o f To s h a k h a n a g i f t s i n t h e L a h o r e H i g h C o u r t ( L H C ) i n c o n n e c t i o n w i t h a p e t i t i o n , s e e k i n g c o m p l e t e d e t a i l s o f g i f t s r e c e i v e d b y t h e r u l e r s a n d b u r e a u c r a t s f r o m f o r e i g n d i g n i t a r i e s s i n c e t h e c r e a t i o n o f P a k i s t a n

Section Officer Binyamin presented the sealed record to Justice Asim Hafeez, who was hearing a petition filed by one Munir Ahmad for complete details

of Toshakhana gifts Deputy Attorney General Asad Bajwa submitted that the record was classified, adding that the court could unseal it, if it wanted He submitted that the federal cabinet would make a decision about making the record public in its next meeting

However, the court observed that it was not inclined to open the sealed record for now Subsequently the court adjourned the case for further hearing till February 23 and summoned Toshakhana head along with an affidavit

In the last hearing, the court directed the authorities concerned to submit the details of gifts taken from

Toshakhana since 1947, by January 16 To which, the federal government’s lawyer informed the court that the Toshakhana details cannot be provided for being classified

However, brushing the argument aside, the court directed the authorities concerned to submit the details of gifts taken from Toshakhana since 1947 by January 16

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan is facing a scandal regarding the Toshakhana gifts for allegedly indulging in corrupt practices, which the former premier denies

m r a n t h a n ks L a h o r e f o r s h o w o f s u p p o r t d u r I n g c o u r t a p p e a r a n c e

LAHORE s ta f f R e p o R t

pA k I S TA n I Tehreek-i-Insaf (PTI) chairman and former prime minister Imran khan thanked the people and especially the lawyers who showed their support during his appearance at the Lahore High Court (LHC) khan posted a tweet expressing his gratitude “I want to thank all the people [and] especially the lawyers for coming out in huge numbers spontaneously and

gunmen kill two policemen in attack in Balochistan

QUETTA s ta f f R e p o R t

Gunmen attacked a paramilitary post in the Mastung district of Balochistan on Tuesday, triggering a shootout that killed two Levies officers, police said, the latest sign of increasing violence in the country Barkat Baloch, the assistant commissioner of Mastung, said a search was underway for the assailants who fled after the attack He said the bodies of the deceased, identified as Manzoor Ahmed and Muhammad Aslam, had been moved to a hospital no one immediately claimed responsibility for the shooting, but previous such attacks have been blamed on Balochistan Liberation Army (BLA) militants who operate mainly from Afghanistan and Iran, and have a presence in the province Baloch further said a search operation has been launched in the area to apprehend the perpetrators of the attack

Meanwhile, Prime Minister Shehbaz Sharif expressed his condemnation of the attack and paid his respects to the security forces for their unwavering dedication to defending the nation He also offered his condolences for those who have been lost, vowing that the sacrifices made by the security forces would not be forgotten, according to the state news agency APP

Balochistan Chief Minister Mir Abdul Quddus Bizenjo also expressed his shock and grief over the event, pointing out that the recent spike in terrorism is a cause for concern as those behind it wish to disrupt the peace of the province He declared that all resources would be put forth in order to apprehend the perpetrators Furthermore, he called upon the authorities to be more vigilant and to unite in keeping anti-national elements at bay Bizenjo said that law enforcement agencies should not hesitate in carrying out their duties, in order to prevent any malicious plots Balochistan has witnessed a lowlevel insurgency by small groups demanding independence from the central government in Islamabad Although authorities say they have quelled the insurgency, violence persists in the province

naB summons Buzdar in wealth case

LAHORE s ta f f R e p o R t

showing such passionate support yesterday,” he wrote

On Monday, khan was granted a protective bail from the high court in a case registered at the Sangjani police station in Islamabad

He informed the judge that he was unaware of the bail petition and had asked Barrister Azhar Siddique, his counsel, to let him appear in court khan proceeded to apologise for “wasting the court’s time” before withdrawing his bail plea The court then concluded the proceedings

T h e n a t i o n a l A c c o u n t a b i l i t y B u r e a u ( n A B ) h a s s u m m o n e d f o r m e r P u n j a b c h i e f m i n i s t e r U s m a n B u z d a r o n c e a g a i n t o i t s L a h o r e o f f i c e o n F e b r u a r y 2 2 T h e d i r t y m o n e y w a t c h d o g h a s a s k e d t h a t h e b r i n g a l o n g t h e r e l e v a n t d e t a i l s a n d d o c u m e n t s r e g a r d i n g h i s a s s e t s a n d i n c o m e B u z d a r h a d p r e v i o u s l y f a i l e d t o a p p e a r b e f o r e t h e a g e n c y a n d h a d t a k e n i n t e r i m p r e - a r r e s t b a i l f r o m a n a c c o u n t a b i l i t y c o u r t t i l l F e b r u a r y 2 7 T h e c o u r t h a s s i n c e b a r r e d n A B f r o m a r r e s t i n g h i m i n t h e c a s e o f a s s e t s b e y o n d h i s k n o w n m e a n s n A B h a d e a r l i e r a p p r o v e d t h e r e c o m m e n d a t i o n f r o m n A B L a h o r e t o l a u n c h a n i n v e s t i g a t i o n a g a i n s t B u z d a r

A key border crossing between Pakistan and Afghanistan remained closed for a third day, with thousands of goods vehicles stuck and businesses facing losses as officials from both sides try to broker a solution

Taliban authorities on Sunday closed Torkham, the main point of transit for travellers and goods between Pakistan and landlocked Afghanistan

The closure of the border crossing between Pakistan and Afghanistan has been causing losses to traders of the two countries There are long queues of heavy trucks stranded on both sides of the border,” said Zia ul-Haq Sarhadi, director of the Pakistan-Afghanistan Joint Chamber of Commerce and Industry He said up to 6,000 trucks loaded with goods had been stuck on both sides since Sunday

The reason for the closure was not entirely

clear, though officials on both sides have said they were in discussions to resolve the issue A provincial Taliban official told Reuters on Monday Pakistan had not lived up to its commitments to allow transit, travellers and sick people seeking treatment to cross Pakistan has not commented publicly on the matter An official source said they had not been told the reason ahead of the closure

Sarhadi said Afghanistan relied on goods from Pakistan for much of its needs and many trucks were also destined for Central Asia using Afghanistan as a transit point

“The traders and particularly those supplying fresh food items such as fruits and vegetables are facing losses as trucks are stranded on the way for the past three days,” he said

He added some trucks had been diverted to another, smaller border crossing, but traders were worried about the security of truck drivers travelling to that region

PIA announces discount for students traveling to China

ISLAMABAD

s ta f f R e p o R t

Pakistan International Airlines (PIA) will give a 27 percent discount to students traveling to China to pursue academic degrees, an official with the flag carrier has said The PIA first announced 22

percent fare reductions for students in December last year to facilitate students flying to China

According to a customer care official at the PIA’s official helpline, the price of a regular ticket from Islamabad to Beijing is Rs272,000, and the students can avail discount on it

The official said that the PIA

currently flies to two destinations in China, including Beijing Capital International Airport and Chengdu Shuangliu International Airport In conversation with Xinhua, students from Pakistan who will be flying to China in the coming days termed the PIA s discount a great help for them as the airlines’

PM S hehbaz asks for cooperation from Kenya leader on Arshad S harif murder

ISLAMABAD s ta f f R e p o R t

Prime Minister Shehbaz Sharif has spoken to the leader of kenya about the issue of the murder of journalist Arshad Sharif in nairobi, his office said Sharif held a telephone conversation with William Ruto on Monday, during which the former thanked the latter for the cooperation extended to investigation teams from Pakistan so far

He emphasised that Pakistan attached great importance to the case, requesting further cooperation from kenya during the course of the investigation in bringing the matter to closure for the family and the people of Pakistan President Ruto assured the premier of full support and cooperation in the matter

During the conversation the two leaders also discussed bilateral cooperation and issues of mutual interest

Highlighting the significance Pakistan attached to its relations with Africa, the premier conveyed the nation s strong desire to strengthen its historical ties with kenya in all areas of cooperation

The assassination of the journalist has gained significance in Pakistan and the government has

sent a special joint investigation team (JIT) to kenya to collect facts surrounding the gruesome murder

Last week, the Supreme Court had asked the JIT to submit the complete fact-finding report of Sharif s murder within a month before adjourning the hearing till March

Chief Justice Umar Ata Bandial told the investigating team to “do what you have to do but get to the facts

I

Th o u s a n d s o f t r u c k s s t u c k at

To r k h a m b o rd e r c ro s s i n g

Arrest wArrAnt for AbbAsi in LnG cAse withdrAwn hours After issuAnce

iSLamabad

S ta f f R e p o R t

fO R M E R prime minister Shahid Khaqan Abbasi s non-bailable arrest warrants in the LNG terminal case were withdrawn by an accountability court, shortly after they were issued on Tuesday

The Pakistan Muslim League-Nawaz (PML-N) leader had been issued the warrants for his failure to appear before the

court in today’s hearing and for not filing an exemption plea However, his lawyer, Zafarullah, filed a petition to cancel the arrest warrant which was accepted by Judge Nasir Javed As a result, the arrest warrants against the former prime minister and coaccused Uzma Adil Khan the ex-chairperson of the Oil and Gas Regulatory Authority (OGRA), were withdrawn

According to Abbasi’s lawyer the PMLN leader was on his way to the court but was delayed, which led to the warrant being is-

sued for his failure to appear on time

In 2019, Abbasi was arrested by the National Accountability Bureau (NAB) on allegations of corruption in relation to the awarding of a multi-billion rupee import contract for liquefied natural gas (LNG) back in 2013 when he was the Minister for Petroleum and Natural Resources

A supplementary reference against Abbasi his son Abdullah Khaqan Abbasi former finance minister Miftah Ismail, former CEO of Engro Elengy Terminal Private Lim-

ited (EETPL) and MD of Pakistan State Oil (PSO), former chairman of Sui Southern Gas Company (SSGC) Board, former Chairman of Port Qasim Authority (PQA) Agha Jan Akhtar, former chairman of OGRA Saeed Ahmed Khan, chairman of Engro Corporation Husain Dawood among others was approved by the NAB chairman in 2020

The accusation against the accused was that they awarded the LNG Terminal-1 contract through a non-transparent process

The public office holders were accused

NAB chairman resigns af ter ‘refusing to target ’ Imran

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The summon notice – forwarded to Imran Khan – mentions six valuable watches The iPhone gifted by Qatar s Chief of Armed Staff is also included in the investigation

The development comes shortly after NAB Chairman Aftab Sultan resigned from the post citing personal reasons The case: The Toshakhana case has been splashed in headlines after the Election Commission of Pak-

istan disqualified PTI Chairman Imran Khan for making “false statements and incorrect declaration” last month on October 21 2022

The ECP verdict said the former premier was found to be indulged in corrupt practices under sections 167 and 173 of the constitution “A criminal proceeding will be initiated against him over filing a false statement

“As per the statement of Imran Khan he had purchased the gifts from Toshakhana paying 21 564 million ru-

elahi, 10 ex-PML-Q MPAs jump ship, join Pti

Continued from page 01

On the other hand, the PML-Q electoral college office-bearers had authorised Elahi the party s provincial president at the time, to take decisions on behalf of the party with regard to its merger with the PTI on Imran s offer

D I F F e r e N c e s I N P M l - Q r a N k s : Differences in the PML-Q ranks first appeared in March last year around the time of the no-confidence motion against Imran as Parvez and Moonis Elahi entered the PTI camp while Shujaat joined the then-opposition The same split was witnessed in July’s Punjab chief minister election saga as Shujaat supported the candidature of PML-N’s Hamza Shehbaz instead of Parvez Amid a widening rift between the Chaudhrys of Gujrat, Shujaat had extended an olive branch in August to Parvez, asking him to put an end to differences The PML-Q leader had talked in detail about the reasons that led to discord between him and Parvez He, however, had called for the reunion of the party that split into two camps following the rift over the election of the Punjab CM

pees while the Cabinet Division said that the gifts had a value of 107 943 million ” “The amount in his bank account was around half of the value of the state gifts Imran Khan was bound to declare the cash and bank details in his returns but he didn t declare it the Election Commission of Pakistan (ECP) decision read

Names of probables for new NAB chairman’: Following the resignation of Aftab Sultan, as NAB chairman on Tuesday the Pakistan Democratic

Movement (PDM) government has started consultation for the new chairman According to sources, the coalition government is considering the names of Azam Suleman and Irfan Elahi for the coveted post Irfan Elahi is former federal secretary and had worked as chairman Planning and Development Department

The other candidate Azam Suleman Khan is a retired Pakistani civil servant who is currently serving as the Ombudsman of Punjab

HSBC signals rate rise profit windfall has peaked even as payouts rise

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Since Quinn took charge in March 2020, just as the COVID-19 pandemic swept the globe, the shares have gained 25%, still underperforming a 50% rise in the broader market So far this year, the stock has risen 20% versus a 7% rise in the FTSE index ( FTSE)

HSBC’s conservative outlook echoed that of British rival NatWest (NWG L), which warned last week that profit earned from rising interest rates may have peaked

‘No easING oFF’

Quinn, who is overseeing a programme of job cuts aimed at stripping out layers from the bank s bloated management structure, said more was to come

“There will be no easing off at all on costs

We are now considering up to $300 million of additional costs for severance in 2023 ” he said

HSBC reported pretax earnings of $5 2 billion for the fourth quarter, up from $2 7 billion a year earlier and ahead of the $4 96 billion average estimate of analysts compiled by the bank HSBC said annual expected credit losses rose to $3 6 billion more than the $3 2 billion analysts had estimated, due to rising inflation pressuring borrowers and lingering problems in China s property market

But Quinn told Reuters the outlook for the sector had improved in January, in part due to policy measures aimed at propping up the sector Despite the fourth-quarter surge, annual profit fell to $17 5 billion from $18 9 billion for 2021, due to an impairment of $2 4 billion related to the sale of its retail banking operations in France That matched the $17 5 billion average estimate of 22 analysts compiled by the bank Meanwhile, HSBC said it still expects to complete the sale of its Russia business in firsthalf 2023 taking a $300 million loss

C hatGPT launches boom in AI-written e -books on Amazon

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While that may not sound like much, it is enough to inspire him to compose other books using the software

“I could see people making a whole career out of this,” said Schickler who used prompts on ChatGPT like “write a story about a dad teaching his son about financial literacy ”

Schickler is on the leading edge of a movement testing the promise and limitations of ChatGPT, which debuted in November and has sent shock waves through Silicon Valley and beyond for its uncanny ability to create cogent blocks of text instantly

In the edition, Sammy the Squirrel, crudely rendered also using AI, learns from his forest friends about saving money after happening upon a gold coin He crafts an acorn-shaped piggy bank, invests in an acorn trading business and hopes to one day buy an acorn grinding stone

Sammy becomes the wealthiest squirrel in the forest, the envy of his friends and “the forest started prospering, according to the book

‘The Wise Little Squirrel: A Tale of Saving and Investing,’ available in the Amazon Kindle store for $2 99 – or $9 99 for a printed version – has netted Schickler less than $100, he said While that may not sound like much, it is enough to inspire him to compose other books using the software I could see people making a

whole career out of this,” said Schickler, who used prompts on ChatGPT like write a story about a dad teaching his son about financial literacy ”

Schickler is on the leading edge of a movement testing the promise and limitations of ChatGPT which debuted in November and has sent shock waves through Silicon Valley and beyond for its uncanny ability to create cogent blocks of text instantly

There were over 200 e-books in Amazon’s Kindle store as of mid-February listing ChatGPT as an author or co-author, including How to Write and Create Content Using ChatGPT ’

‘The Power of Homework’ and poetry collection Echoes of the Universe

And the number is rising daily There is even a new sub-genre on Amazon: Books about using ChatGPT, written entirely by ChatGPT

But due to the nature of ChatGPT and many authors’ failure to disclose they have used it it is nearly impossible to get a full accounting of how many e-books may be written by AI

The software s emergence has already ruffled some of the biggest technology firms, prompting Alphabet Inc and Microsoft Corp to hastily debut new functions in Google and Bing, respectively, that incorporate AI

The rapid consumer adoption of ChatGPT has spurred frenzied activity in tech circles as investors pour money into AI-focused startups and given technology firms new purpose amid

the gloom of massive layoffs Microsoft, for one, received fawning coverage this month over its otherwise moribund Bing search engine after demonstrating an integration with ChatGPT

But already there are concerns over authenticity, because ChatGPT learns how to write by scanning millions of pages of existing text An experiment with AI by CNET resulted in multiple corrections and apparent plagiarism before the tech news site suspended its use T h r e aT T o ‘ r e a l’ a uT h o r s?

Now ChatGPT appears ready to upend the staid book industry as would-be novelists and self-help gurus looking to make a quick buck are turning to the software to help create botmade e-books and publish them through Amazon’s Kindle Direct Publishing arm Illustrated children’s books are a favorite for such first-time authors On YouTube, TikTok and Reddit hundreds of tutorials have spring up demonstrating how to make a book in just a few hours Subjects include get-rich-quick schemes, dieting advice software coding tips and recipes “This is something we really need to be worried about these books will flood the market and a lot of authors are going to be out of work,” said Mary Rasenberger executive director of writers’ group the Authors Guild

Ghostwriting – by humans – has a long tradition, she said, but the ability to automate through AI could turn book writing from a craft into a commodity

There needs to be transparency from the authors and the platforms about how these books are created or you re going to end up with a lot of low-quality books ” she said One author, who goes by Frank White, showed in a YouTube video how in less than a day he created a 119-page novella called ‘Galactic Pimp: Vol 1 about alien factions in a far-off galaxy warring over a humanstaffed brothel The book can be had for just $1 on Amazon s Kindle ebook store In the video White says anyone with the wherewithal and time could create 300 such books a year, all using AI Many authors like White, feel no duty to disclose in the Kindle store that their great American novel was written wholesale by a computer, in part because Amazon’s policies do not require it When asked for comment by Reuters Amazon did not address whether it had plans to change or review its Kindle store policies around authors use of AI or other automated writing tools “All books in the store must adhere to our content guidelines including by complying with intellectual property rights and all other applicable laws,” Amazon spokeswoman Lindsay Hamilton said via email

of misusing their authorities in collusion with each other, resulting in wrongful gains of approximately Rs14 146 billion to EETL/ETPL/ECL in connection with LNG Terminal-1 of EETL, as well as a wrongful loss of approximately Rs7 438 billion for the non-utilisation of the unused capacity of the second LNG Terminal of PGPL from March 2015 to September 2019

The total liability of the accused amounted to approximately Rs21 584 billion until September 2019

corporate corner

SAP ’s aims to bring positive change people’s lives for better through digital transformation

K a r a c h i: SAP’s Senior Vice President Middle East and North Africa, Ahmed Al-Faifi, on his visit to Pakistan, met with Federal Minister for Planning, Development & Special Initiatives, Mr Ahsan Iqbal, Chairman Higher Education Commission (HEC), Dr Mukhtar Ahmed and Secretary Railways, Mr Mazhar Ali Shah He also attended The Future Summit’s 6th Edition, organized by the Nutshell Group in Karachi During his meeting with Federal Minister for Planning, Development & Special Initiatives, Mr Ahsan Iqbal, the discussion revolved around how to improve the technological dynamics of Pakistan to expedite the growth Mr Al Faifi said; “The commercial enterprises and the government sector are benefitting from SAP’s business solutions for efficient service delivery in the public sector Financial, HR, audit and numerous other SAP core business applications are contributing to Pakistan’s global standing in terms of transparency SAP is cognizant of Pakistan s needs for a viable IT future and is continuously redefining its scope to reach out to more and more of public and private companies It ensures that the product is best suited for optimization of productivity in each sphere p R

Telenor Pakistan recognised at OICCI

Women Empowerment Awards 2022

iSLaMaBaD: Telenor Pakistan has been recognised as the “Best Conducive Workplace Environment for Women” at the Overseas Investors Chamber of Commerce and Industry’s (OICCI) Women Empowerment Awards 2022 Telenor Pakistan takes immense pride in its diversity initiatives making it a leader in promoting gender equality and women’s rights in the workplace The workplace disparity is a global issue affecting millions and Telenor Pakistan is dedicated to bringing a change by providing women with the support and resources they need to succeed in the workplace This award recognises our organisation’s efforts in promoting equal opportunities at the workplace,” said Areej Khan, Chief Human Resources Officer, Telenor Pakistan p R

Costa Coffee brings wave of happiness to K arachi

K a r a c h i: After the immense success it received in Lahore, London’s favorite coffee shop has now opened up its second store in Pakistan, and this time, it s in Karachi!

The new store, located at DHA Karachi Phase 6, Shahbaz Commercial, has all the Costa signature elements incorporated in its outlet design, complete with a red telephone booth It is meant to provide its customers with great coffee, snacks and an atmosphere where they can relax and unwind with friends and family Currently, the outlet is offering all the drinks on its menu that are being sold in Lahore, amongst which Flat White is a signature Costa Coffee boasts a unique Mocha Italia Signature Blend that it has perfected ever since its inception The coffee blend is the base ingredient in all the brands' coffee drinks, whether hot or cold In addition to serving drinks, the store also has a range of passionately crafted local assortment of savoury and sweet treats These snacks can be enjoyed with the coffee drinks or separately Together with Costa Coffee, on this new journey into Pakistan, Gerry's Group is certain that the level of coffee excellence will be unparalleled and inspiring for the country's fast-growing coffee community p R

Provincial elections P

R e S I D e N T Arif Alvi’s decision to announce dates for the Punjab and KP provincial elections is without clarity over what constitutional authority he has to do so Additionally, bipartisan approach to carrying out his duties as head of state, further discredits him as someone expected to make a fair decision This has thrown the future of politics in the country into more uncertain territory That both the offices of the Chief election Commissioner and Governor Punjab have decided to seek legal guidance to provide clarity over their roles in such circumstances will only exacerbate the situation It is almost certain therefore that political parties will soon be approaching the higher judiciary to yet again intervene in matters that should be left to Parliament to decide and agree upon Ceding so much space, by one pillar of democracy to another muddles the lines necessary to maintain a fair constitutional balance of power

Both parties central to this battle have selfish reasons to take the positions they are over premature elections

The PML(N) is currently not confident about its popularity in what was once described as its backyard of Punjab The damage done by taking power and being unable to bring about the promised and expected economic stability has not only given rise to both a top and second-tier leadership crisis Ironically perhaps the only consensus within the party at the moment is to avoid going into any early polls at all costs

On the flip side, the PTI is itching to go into polls to bank on Imran Khan and the party s perceived record popularity across the country The PTI is banking on the despondency of its support base after Imran Khan was removed from office prematurely and the abysmal economic performance of the PDM, the collection of parties that orchestrated his ouster

It should not be forgotten that constitutional deviations have always led in the past to disaster, and to worsening problems instead of solving them The present crisis it can be argued is mainly because the PTI was foisted upon the country because some institutions operated beyond their constitutional mandate Bringing about stability, economic or political, is typically argued to be the sole responsibility of elected representatives of the people By that definition, they should then be allowed to work for and be made answerable to the people, not institutions without the mandate to ask questions and do politics behind a comfortable veil of secrecy and separation

Real journalism asks tough questions

Wh I L e there are exceptions, too often both the Israeli and Arab press fail miserably when it comes to reporting on violent acts in the Israeli-Palestinian conflict Already this year, there have been dozens of murderous assaults by Israeli forces into Palestinian populated areas and deadly Palestinian attacks against Israelis Aspects of the press coverage of both have been particularly upsetting F o r e x a m p l e : O n J a n u a r y 2 6 t h I s r a e l i u n d e rcover units (arriving in milk trucks) invaded Jenin W h e n t h e y e m e rg e d f r o m t h e i r v e h i c l e s , h e a v i l y a r m e d a n d f i r i n g t h e i r w e a p o n s P a l e s t i n i a n s r esponded with gunfire In the end 10 Palestinians lay dead Dutifully following the lead of Israeli military disinformation the press reported that the targets of the Israeli assault were “terrorists” or a “ticking bomb preparing an attack on Israelis And that was how it was reported Israeli (and American) journ a l i s t s a s k e d n o q u e s t i o n s , a n d t h e c a s e w a s d e e m e d c l o s e d B u t q u e s t i o n s s h o u l d h a v e b e e n a s k e d : W h a t w a s t h e e v i d e n c e f o r t h i s c h a rg e ? Could means other than a murderous assault putting civilian lives at risk been deployed to apprehend the a l l e g e d t e r r o r i s t s ? I n s t e a d t h e j o u r n a l i s t s a ccepted that the only evidence needed the judge, jury, and executioner were the words and bullets of the Israeli invaders

There is an especially upsetting subtext to stories like this Israel is currently holding over 800 Palestinians as Administrative Detainees (ADs) the highest number since the occupation began An AD is a Palestinian imprisoned without charge, evidence or the right to a trial or a defence Some of these detainees have been held in this legal limbo for more than four years What follows from this Kafkaesque scenario is that if Israel arrests a Palestinian, he can be held without any due process, but is still referred to as a “suspected terrorist ” And when a Palestinian is killed then we must also believe and report that the evidence was certain enough to confirm that the victim was indeed a terrorist That s not journalism

Nor is it journalism when the Israeli and American media simply report on the Israeli military’s arrest of dozens of family members or the demolition of the home of an accused terror suspect, as if these

Pakistan’s securit y quagmire

Th e national security of Pakistan is in a quagmire and the state is walking on a tightrope trying to pursue its strategic partnership with China and at the same time keeping its relations with the USA on a positive trajectory; while at the same time dealing with internal matters of political instability, economic repression and resurge in terrorism

The geostrategic location of Pakistan makes it a significant player in South Asia as it is bordering two great powers, China and India The Global Great Power politics between Washington and Beijing, and ever-evolving strategic nexus between the USA and India pose a challenge to its national security as well as to its vested interests on the regional chessboard

In a similar vein, the strategic milieu, which is determined by global great power competition between Washington and Beijing, has further made scenario complex, as far as Pakistan s balancing approach is concerned Keeping such developments into account, it remains essential that strategic moves of Pakistan be rationally and diplomatically designed with proper calculations As in December 2021, Pakistan presented its first ever much National Security Policy, which appeared to expand the state s focus from traditional security issues to non-traditional issues The policy was comprehensive and holistic, and identified the various security domains that Pakistan would be looking at in the next five years including economic issues internal challenges external threats, human security, and environmental concerns along with traditional security issues

Such a change in the security outlook of the country was curated through a citizen-centric prism Pakistan’s

security policy shifted from the narrow clutches of military security towards human security but the geostrategic environment demands a balanced approach between both military security and economic security Careful analysis of four declassified documents of the USA the National Defense Strategy, Nuclear Posture Review, Nuclear Missile Review and National Security Strategy 2022 highlight the interests of the USA in the Indo-Pacific In these documents, the USA views China as the only power which has the will and capability to change the International world order according to its interests US Defense Secretary Lloyd Austin recently reiterated that “China is a threat to US interest despite Russia’s war and we ll not let China change the status quo According to him, “China is the only competitor out there with both the intent to reshape the international order, and increasingly the power to do so

The Chinese Communist Party Meeting CCP 2022 also shows China’s willingness to increase the pace of its modernization of conventional and non-conventional

criminal acts of collective punishment are normal and justifiable behaviour They are not Arab reporting can be equally galling When on the heels of the deadly Jenin raid, a Palestinian shot and killed seven Israelis walking on the streets of Neve Yaakov, a settlement east of Jerusalem it was deeply upsetting that some Arab (and American “left”) media referred to the murders as “an operation” or a “successful attack The same terms were used after a deranged Palestinian rammed his car into a group of Israelis waiting at a bus stop, or when, in the following days, two 13-year-old boys attacked Israelis The same language was used when hamas sent desperate young men into restaurants and other public places with bombs strapped to their bodies with the intention of killing themselves and as many Israelis as possible These acts were described by some media accounts as heroic and termed successful operations ” They were not I n s t e a d o f c e l e b r a t i n g t h e s e s e n s e l e s s a c t s a s i f t h e y w e r e m i l i t a r y a c t i o n s , p a r t o f a s t r a t e g y t o l i b e r a t e P a l e s t i n i a n s j o u r n a l i s t s e s p e c i a l l y t h o s e s y m p a t h e t i c t o P a l e s t i n i a n s u ff e r i n g , s h o u l d h a v e a s k e d w h a t w o u l d h a v e l e d a y o u n g p e r s o n t o s u c h a n g e r a n d d e s p a i r t h a t t h e y w e r e d r i v e n t o s u i c i d a l b e h a v i o u r t h a t t o o k t h e l i v e s o f i n n o c e n t I s r a e l i s w h o h a p p e n e d t o b e a t t h e w r o n g p l a c e a t t h e w r o n g t i m e Journalists who accept and use the terms heroic and successful to describe these senseless acts of murder are no better than their Israeli (and US) counterparts who blindly echo the Israeli military ticking bomb line to justify undercover murderous assaults or who fail to question the legality and morality of acts of collective punishment I can already hear critics from both sides taking issue with this column

Supporters of Israel will ask: how else can Israel deal with the threat emanating from terrorists? But they will ignore the very real problems posed by extrajudicial killings and collective punishment the absence of any transparent due process to justify the charges of terrorist or ticking bomb the lack of any basis in law for the wanton violence used in the assault, and the bitterness and desire for revenge that is the inevitable result

Similarly, there will be apologists on the Arab side who will seek to justify the apparently random attacks on any Israelis by arguing that their very presence in Israel or especially in settlements makes them legitimate targets Or they will ask: how else can Palestinians make Israel pay for its crimes? These arguments, like those made by Israel’s apologists, make no moral, legal, or political sense

The fact is that just as Israel s use of excessive violence hasn’t ended Palestinian resistance to their cruel occupation, neither has the Palestinians’ use of

The fact is that just as Israel’s use of excessive violence hasn’t ended Palestinian resistance to their cruel occupation, neither has the Palestinians’ use of violence ser ved to end the occupation. If anything, the behaviour of both have only ser ved to intensify both Israeli repression and Palestinian bitterness and rag e at those who oppress them

violence served to end the occupation If anything the behaviour of both have only served to intensify both Israeli repression and Palestinian bitterness and rage at those who oppress them

While we can’t expect an article to alter the brutish culture of the Israeli military or act as a salve to heal the psychological wounds of an angry 13year-old with a knife, we can at least ask those who report on their actions to use the right language and ask the right questions when they cover the tragic and deplorable deeds they do

The writer is President of the Arab American Institute

this quagmire where it has to maintain a balance in its strategic partnership with China and at the same time maintain good relations with the USA

weapons Moreover, the Foreign Secretary Mao Ning has accused Washington of Cold War thinking and zero-sum-game sensationalizing geopolitical conflicts and great power competition” The US China rivalry and the determination of the USA to counter and contain China in the Indo-Pacific through external alliances like QUAD and AUKUS makes the strategic environment vulnerable for Pakistan

The USA aims to contain China using India as a regional competitor The resulting military modernization with advanced missiles and weaponry poses a threat to Pakistan as the two states share a history full of disputes, clashes, conflicts and war Pakistan has been caught in

m i l i t a r y r e l a t i o n s , a n d e f f e c t i v e c o u n t e r- t e r ro r i s m s t r a t e g i e s , a r e n e c e s s a r y fo r i n t e r n a l o rd e r A n d ex t e r n a l ly, Pa k i s t a n h a s t o s t ay n e u t r a l a n d p u rs u e i t s i n t e r e s t s w i t h b o t h t h e U S A a n d C h i n a by c r e a t i n g c o nv e rg e n c e s a n d o p p o r t u n i t i e s fo r b o t h p ow e rs t o r es o l v e t h e i r m a t t e rs a m i c a b ly. H e n c e , i n t e r n a l s t a b i l i t y i s v e r y s i g n i f ic a n t fo r t h e ex t e r n a l g e o - s t r a t e g i c e nv i ro n m e n t

Tilting to one side would be a strategic mistake and hence calculated moves are required without directly involving itself in superpower rivalry and competition The hegemony of the USA in the International Monetary Fund (IMF) and Pakistan’s dependence on such international financial institutions in its vulnerable economic situation makes it necessary that Pakistan maintains a stable relation with the USA The USA vows to adopt all means to counter China as the US analysts pledge that they will not let China change the global world order or let China pose a direct threat to US interests

The traditional security landscape demands that Pakistan should maximize its power through military modernization to deter the Indian aggressive designs in the region and maintain strong relationships with great powers But Pakistan lacks financial resources amidst the economic crisis

Non-traditional issues are also on rise in Pakistan with dwindling economic reserves, political instability, growing polarization societal unrest ethnic divide and food crisis on one hand and resurgence in terrorism, target killing, unresolved conflict, and unrest on Afghan border on the other hand These internal and external security issues determine the critical political and security landscape of the country This demands a holistic implementation of the National Security Strategy of 2022 where Pakistan has to focus on both traditional and non-traditional threats along with keeping the internal house in order Political stability coupled with economic stability and smooth civil-military relations, and effective counter-terrorism strategies, are necessary for internal order And externally Pakistan has to stay neutral and pursue its interests with both the USA and China by creating convergences and opportunities for both powers to resolve their matters amicably hence internal stability is very significant for the external geo-strategic environment

The writer is a Researcher at the Center For International Strategic Studies, AJK, and can be reached at tayaba khan127@gmail com

n ex p e c te d c r i s i s ow i n g to t y p i c a l p ro b l e m s w i t h t h e s y s te m

Both the Israeli militar y and Palestinian radicals get away too lightly

Sea-based nuclear deterrence and maritime culture

economy is on the rise A private university in Lahore now runs a vibrant Centre of Research and Innovation in Maritime Affairs

Afew years back, a young researcher from an Islamabad-based think tank while contributing an opinion column for a national daily mentioned that sea–based deterrence is not a proven concept’ The writer could be forgiven for we live in a country where successive generations in academia, university graduates, and even scholars in think tanks have ad nauseam used their verbal written and oratory skills dissecting continental issues They have grown up hearing and learning about land-centric matters wars fought on land trifling non-issues in domestic politics and so on Seas, oceans or maritime matters are alien not only to commoners but amongst large segments of the country’s intelligentsia as well

The dominant part of the armed forces is drawn from Punjab a province with rich cultural traditions but abysmally low grasp of anything related to blue water, though its dwellers relish seafood The country s diplomatic corps is quite wanting on maritime issues; the Foreign Office seldom talks about the Indian Ocean or Indo-Pacific And in FO press briefings; there are rarely any questions on maritime security Until recently, the syllabus of the CSS examination barely had any worthwhile content on maritime issues

The problem compounds when national debate on nuclear subjects remains exceedingly narrow mostly restricted to a select group of officials from the strategic community One cannot overstate that it was the nuclear submarines that managed and sustained overarching international security order during much of the Cold War These platforms constituted what could easily be termed as the most robust component in the deterrent equation (triad) A nuclear weapon embarked on a submarine operating underwater provided an assured ability to respond It thus eliminated any incentives for any would-be attacker or adventurer

It was well-established that ground-based strategic bombers and even missiles kept in hardened underground silos could be destroyed in a decapitating (pre-emptive) destabilizing first strike

The initial US war planning was based on pre-emption against the Soviets The retaliatory solution was found in nuclear-weapons-carrying submarines propelled via a nuclear reactor The nuclear propulsion afforded these submarines indefinite submerged time (endurance) without fear of detection This was much against conventional diesel electric submarines with limited staying power underwater and fairly good chances of detection once recharging batteries, a process called snorkelling Suitably deployed hundreds of feet below the surface in the dark swathes of oceans, the inbuilt features of stealth, mobility and flexibility made nuclear submarines a formidable stabilizing element

The retaliatory options began to enter US war planning in the late 1950s This was the time when submarine launched ballistic missile (SLBM) programme, Polaris also got underway By 1971, Poseidon the advanced version of SLBM had started to replace Polaris Both the US as well as British nuclear submarines carried these missiles

At the height of the Poseidon programme (in the late 1970s), 31 nuclear-powered submarines of the US Navy carried 16 missiles each And every missile could carry up to 14 independently targetable nuclear warheads to deliver these with

twice the accuracy of the earliest version

The USA today has 5,400 nuclear weapons, 1,744 of which are deployed and ready to be delivered The weapons are kept onboard submarines and in 80-foot-deep missile silos The fully mated missiles include almost 400 silobased ICBMs and a comparable number of submarine-launched ballistic missiles (SLBMs)

The United Kingdom has an estimated 120 operationally ready and available nuclear warheads, all aboard submarines France maintains an arsenal of nearly 300 deployed nuclear weapons Most of these are embarked on submarines, with the rest on air-launched cruise missiles Israel has reportedly retrofitted its conventional German Dolphin-class submarines with nuclear tipped cruise missiles

None of the universities in Pakistan, including the National Defence University Islamabad which boasts of a large think tank can claim to have someone accomplished in sea-based nuclear issues or for that matter with deep understanding of larger maritime security-naval and attendant subjects The classical role of navies in deterrence reinforcing strategic deterrence diplomacy or constabulary operations is barely understood For someone to claim a solid grip or perceptive eye on what is currently unfolding in the Indo-Pacific would be nothing short of selfdelusion The discourse in the majority of the national and international conferences organized by local universities, think tanks and even talk shows on electronic media centre on discussions other than naval or ocean-related matters It took seven editions of AMAN exercises (since 2007) underwritten by sustained efforts and resources of the Pakistan Navy to penetrate the thick crust of the country’s continental landscape

Until recently few if any in the universities in Punjab attempted to take up higher studies in the maritime or maritime security related subjects This scribe recalls how in 2012, a young aspiring PhD scholar faced difficulty to find a suitable advisor in a leading university of Lahore when she decided to do her doctoral studies on geopolitics in Indian Ocean Despite having a history that dates back to 1882 the university had never attempted a PhD work on such a subject As luck would have it, not only did the student scholar earn her doctorate with flying colours but today heads a department in another leading woman s university at Lahore her study became a pioneering work in academic circles of Punjab Thanks to the Pakistan Navy and its presence in Lahore, the Pakistan Navy War College with its rich library and diverse faculty extended full support to the prospective scholar

Interestingly, when in 1995-96 the Pakistan Navy first decided to upgrade its staff college to a war college and contemplated moving the institute from Karachi to Lahore, it could only do so in the teeth of stiff opposition from the country’s civil-military bureaucracy There was a strong vocal opposition despite the fact that the Navy had made a strong case for such a move

Over the years, through the Naval War College, the Navy has reached out to bureaucracy, academia entrepreneurs media and others in Lahore and beyond to expand maritime culture

This has resulted in a wider understanding of maritime and ocean matters besides appreciation of the role of the Navy in the economic and national strategic security of the country Several students have since taken up maritime subjects as part of higher studies while interest in blue

A major surface area under the government’s sway is the exclusive economic zone of Pakistan

It’s much larger than most federating units of the country Pakistan’s monthly oil import bill is roughly $1 2 billion All oil goods come via sea

More than 95 percent of global telecommunication traffic travels through 438 transoceanic submarine cables totalling some 1 2 million Km in length These cables crisscross ocean floors and provide voice and data transfer links all over the world Pakistan telecommunication system comprises 11 submarine cable systems with Karachi and Gwadar as landing stations The two stations provide resiliency in the event of a cable fault, damage or failure The bulk of the in-country services, including internet and e-commerce and so on, reside in fully functional and operationally available submarine cables

International reports however cite that PTA, the authority responsible for safeguarding and maintaining these cables in its area of responsibility, is grossly ill-prepared to handle any disruption or digital disaster, much less recovery of cables should it suffer a fault This is so despite Article 113 of the constitution of sea, UNCLOS-82 ratified by Pakistan in February 1997, rendering it mandatory for every State to adopt laws and regulations making it a “punishable offense” for ships or persons subject to its jurisdiction to break or injure a submarine cable beneath the high seas “either willfully or through culpable negligence”

Seas are crucial enablers of Pakistan’s oil transit data transit and trade transit They are also a medium for power projection, diplomacy and deterrence

In June 2020 Stephan Fruhling a professor at the Australian National University while contributing a policy paper for a journal had this to say: No other weapon system embodies the menacing, but also out-of-sight, presence of nuclear weapons better than the stealthy nuclear-powered ballistic missile submarines (SSBNs) that have for six decades, ceaselessly prowled the world’s cold ocean depths, waiting for an order that has never come SSBNs on continuous at-sea deterrence missions remain the mainstay of the nuclear forces in the United States and France, and the sole platform carrying British nuclear weapons Despite Russia’s significant investment in road-mobile missiles, SSBNs also remain an important element of its nuclear forces

So who is to blame for Pakistan not being able to catch up with India and mature its seabased assured second-strike capability? The answer perhaps resides as much in the history of our wars as in the academic culture prevalent in the professional institutes of Pakistan s armed forces If there is one constant in the politicomilitary chronicles of Pakistan, it is this: obdurately refusing to learn from grave mistakes and massive miscalculations of the past

The academic debate on nuclear issues must open up, particularly in the country s professional military institutes Our intellectuals must not be allowed to blunt nuclear deterrence capacity The self-imposed cognitive shackles on nuclear issues need to be removed Critical national strategic issues require wide ranging debate, from the grassroots to the highest professional and policymaking levels The earlier our intelligentsia wakes up to this reality the better it would be for Pakistan

The writer can be reached at mazamkhan54@gmail com

S e n d y o u r l e t t e r s t o : L e t t e r s t o E d i t o r, Pakistan Today, 4 - S h a a re y F a t i m a J i n n a h L a h o re P a k i s t a n E - m a i l : l e t t e r s @ p a k i s t a n t o d a y c o m p k L e t t e r s s h o u l d b e a d d re s s e d t o Pakistan Today e x c l u s i v e l y

Unity is critical for Palestinian cause

WITh all the barbarism that is going around in occupied Palestinian territories, there is a dire need for the Muslim world to come together and communicate a sense of unity to the larger world The recent World Cup in Qatar, which was supposed to be about football, became an effective platform to display solidarity with the Palestinians by people from across the world

It was heart-warming to watch people from countries as diverse as Japan Brazil, Argentina and others, snubbing the Israelis who were present in Qatar during football matches The occupiers of Palestine thought that with a string of ‘peace treaties’ with various Gulf countries they would be welcomed and accepted by the masses

To their own horror and expense, they found out how wrong they were They were surprised when people from across the world did not even hide their hatred for the occupiers of Palestine The reaction was so harsh that the Israelis preferred not to identify themselves with the Jewish state, and, instead, started mentioning the names of european countries to which they had originally belonged before moving to Israel

Such expressions of love and empathy for the Palestinians by the global population was a slap in the face of the countries that have embraced the occupiers The ‘normalisers’ who watch daily genocide of Arabs and attacks on the third holiest site in Islam, continue doing business with the occupying force The occupiers have always worked with rulers or heads of governments to achieve their goal because dictators can easily be bought or manipulated It would be interesting to see which ruler would embrace the new butchers in occupied Palestine; Benjamin Natanyahu and Itamar Ben Gvir who are shamelessly extending their blood-stained hands with active support from the United States, in their bit to ‘normalise’ Israel’s relations with more entities across the Middle east Netanyahu a Polish has killed over 2 000 Palestinians and Ben Gvir is infamous for his ‘death to Arab’ chants and for supporting european settler mobs in Sheikh Jarrah, a neighbourhood in east Jerusalem, where settlers have been forcing Palestinians out of their homes

During a recent settler rampage, Ben Gvir brandished a pistol, encouraging settlers to shoot directly at the resisting Palestinians

The fact is that the world at large needs Arab cash since europe and the US instigated a crisis that led to war between Russia and Ukraine The conflict has taken a toll on the treasury This means the Palestinians should work with Pakistan Iran Lebanon Saudi Arabia China Oman Kuwait Yemen, Syria, Russia, Indonesia, Malaysia, Somalia, Libya, Algeria, Tunisia, Qatar, Bangladesh, South Africa and central Asian countries to stop the colonists from attacking them Iran and Saudi Arabia should unite and help the Palestinians They will be a strong force in the Arabian peninsula, which is why the Israelis are desperately working on keeping them divided The Muslims should work actively and unitedly to send the warmongers in Palestine back to where they come from; just as the Algerians did to the French People have clearly sided with the Palestinians how can any nation embrace the Netanyahu-Zionist axis of genocide? So bad is the situation with this power axis that it even made the US, whose citizens Rachel Corrie and Shireen Abu Akleh, among several others, have been killed by the Israelis, issue a response over the genocide taking place in Palestine It is time for the US and the world to end this occupation, and to give Palestine back to the Palestinians

ANGABEEN AHMAD KARACHI

Blue economy

A LT h O U G h the concept of blue economy emerged a while earlier it gained global spotlight during the 2012 United Nations Conference on Sustainable Development (UNCSD) in Brazil, and has since remained a key area of interest globally

According to the World Bank, blue economy is referred to the sustainable utilisation of seas, oceans and marine resources for preserving livelihoods, creating more job opportunities and strengthening economic growth

Owing to the potential of $25 trillion in the world blue resources, the countries around the world are transforming their economic interests from land resources to water resources Pakistan has also a vast potential of blue resources in the shape of seaports, virgin beaches, minerals and tuna, a fish which is consumed in large quantity in european countries The country is trying to explore and manipulate such worthy resources but due to certain challenges it is lagging behind in this struggle We have been ignoring the potential and opportunities of the sea, because our think tanks do not know how to explore and optimise the resources efficiently We spill millions of tonnes of untreated sewage into the Arabian Sea on a daily basis which results in pollution and destruction of our blue resources Furthermore, Pakistan clearly lags behind in terms of marine technology research and education Our fishing and cargo companies use obsolete methods for fishing and shipping, and, therefore, some of them are banned by various international organisations

Similarly excessive and unregulated fishing use of illegal nets and lack of fish processing techniques are elements that are adding to our burden We need some robust measures to promote and strengthen our blue resources The government should explore and develop its beaches in Balochistan to promote the tourism industry It should also encourage marine education, technology and industry in order to preserve the resources for a long time Although Gwadar seaport has the capacity to offload cargo of 7,000 million tonnes annually, the world is not attracted to the facility owing to the absence of modern technology For that reason, rapid sustainable development of the port should be made possible through effective policy making to make Gwadar port a centre of attraction for the global shipping industry Besides, we need to incorporate the concept of blue economy into maritime policy of the country to exploit the untapped ocean resources As the country suffers from current account deficit, fiscal deficit, poor taxation, informal economy and circular debt, our blue resources can play an effective role not only in strengthening our vulnerable economy but to mitigate the effects of climate change

MUHAMMAD SHAHBAZ DERA GHAZI

KHAN

Bogus domiciles

T h e issue of fake domiciles is a serious one in Balochistan Many a dream of having a bright future is crushed by the holders of illegal domiciles In every examination, be it for employment or education, almost one-third seats are seized by such rogue elements The culprits enjoy a lifetime of financial security at the cost of the deserving candidates Would someone take action to curb the practice?

MALAK MIR WALI MUSAKHEL

S U n A k ’ S r E f U S A l t o d E f E n d t h E B B C A g A I n S t M o d I I S A t h r E At t o f r E E S P E E C h

ernment report found Modi “directly responsible” although it was aired only in Britain, and featured interviews with members of India’s ruling BJp party who defended Modi, the Indian government’s response was ferocious

In recent weeks uK Labour party leader Keir Starmer has opened up a cruel new attack line against prime Minister rishi Sunak That line says that Sunak is hopelessly weak, that he s not big enough for the job, and that he’s too slow to deal with bullies Time after time, Starmer drives these attacks home at prime Minister s Questions over the past few weeks, a new bully has appeared on Sunak’s horizon - Indian prime Minister narendra Modi and Sunak isn t standing up to him either

Modi’s government in India is renowned for brutal attacks on the country’s media So much so that in 2022 an international media watchdog ranked India 150th out of 180 countries in its index of press freedom now the Modi government has turned its fire on the BBC, Britain s national broadcaster and one of the most respected news organisations in the world Shockingly neither Sunak nor his government has lifted a finger to defend it from the Indian prime minister s assault

o d i i s f u r i o u s w i t h the BBC because in late January it released a two-part documentary on his relationship with India’s 200 million Muslims

The first episode focused on the 2002 anti-Muslim pogrom in the western state of Gujarat The violence which happened when Modi was Gujarat’s chief minister, saw more than 1,000 people killed

The BBC documentary revealed that a British gov-

It banned the documentary and called it “hostile propaganda and anti-India garbage It ordered YouTube and Twitter in India to block it on their platforms - and they seem to have complied When students at the prestigious Jawaharlal nehru university tried to screen the documentary, the administration turned off the electricity and internet access at Delhi university, 24 students were detained by the police for trying to screen it Throughout all this, neither Sunak nor his ministers said anything

In parliament a Labour politician asked Sunak about the documentary The prime minister made no attempt to defend the BBC Instead, he replied that he did not agree at all with the BBC s characterisation of Modi

Just weeks later, the Indian government launched a brazen attack on the BBC on 14 February, over a dozen officials from the Indian government s income tax department arrived at BBC offices in Delhi and Mumbai to carry out a three-day tax raid, or a “survey” as the government calls it The Ministry of Finance then accused the BBC of tax evasion

Incredibly, though, there has been no statement of concern or condemnation from Sunak at this blatant harassment, no public defence of the BBC from the uK government astonishingly, the British High Commission in India which is reportedly monitoring the situation, has not issued a statement

‘HARASS AND INTIMIDATE’ Within India, many individuals and organisations have spoken up for the BBC “The Indian authorities are clearly trying to harass and intimidate the BBC over its critical coverage of the rul-

E U s l a p s f i f t h w a v e

o f s a n c t i o n s o n I r a n

entities to 33 a ban on exports to Iran of equipment that could be used for internal repression and to monitor telecommunications is also in place Monday s sanctions will go into effect the moment they are published in the official eu journal

Al-Monitor R n a B a s s i s t

Eu r o p e a n union foreign ministers imposed on Monday sanctions that include a travel ban and asset freezes on 32 Iranian individuals and two entities over human rights violations The decision was made during the ministers’ monthly meeting in Brussels among others, the new eu sanctions list includes two Iranian ministers Minister of Culture and Islamic Guidance Mohammad Mehdi esmaili, accused of persecuting artists and filmmakers who did not support the Tehran regime, and Minister of education Yousef noori, who was responsible for the targeting and detention of students engaged in the protests also on the list are the deputy commander and spokesperson of the Islamic revolutionary Guard Corps (IrGC), members of the Iranian parliament who supported crackdowns on demonstrators, police officials, judges and prison wardens and directors The two entities sanctioned are the Law enforcement Forces Cooperation Foundation and the police Science and Social Studies Institute

The new list brings the total number of Iranian individuals under sanctions to 196 and the tally of sanctioned Iranian

The european ministers also reiterated past calls on Tehran to stop the violent crackdown against peaceful protests, cease the use of arbitrary detentions as a means of silencing critical voices and release all those unjustly detained They once again urged the Iranian leadership to end the use of death sentences to punish protesters Iran has been hit by a wave of nationwide protests after the death in September 2022 of Mahsa amini, 22, in police custody, for “improperly” wearing her hijab Iran has arrested at least 14,000 people during the protests, the united nations said The eu did not blacklist the IrGC despite past calls to do so by the european parliament and senior officials in Germany and the netherlands european diplomats told al-Monitor there was wide agreement among eu members that the time has not come for such a move which would sever all communication channels between Brussels and Tehran Brussels is expected to adopt a 10th package of sanctions against Moscow later this week, which will mark one year since the russian invasion of ukraine on Friday In the framework of these sanctions, Brussels is expected to also sanction Iranian companies that manufacture or sell components used for the production of drones operated by the russian army against the ukrainian population The adoption of these new measures would not require a formal ministerial meeting, only the consent of eu members These measures against Iranian companies were announced by european Commission president ursula von der Leyen in her address to the european parliament last week

ing Bharatiya Janata party,” said aakar patel, chair of amnesty International India s board The overbroad powers of the income tax department are repeatedly being weaponised to silence dissent ” Media watchdog reporters Without Borders took the same view “These raids have all the appearance of a reprisal against the BBC for releasing a documentary critical of prime Minister narendra Modi three weeks ago,” it said in an official statement narasimhan ram, former editor-in-chief of the Hindu, called it an attempt at “censorship” and suggested it could be a little bit of revenge

a spokesperson from India’s ruling party responded to the tax raid by calling the BBC the “most corrupt organisation in the world and accused it of venomous shallow and agenda-driven reporting”

Yet the Sunak government won’t lift a finger to stand up for one of Britain s most cherished and admired international organisations - and the principle of free speech and this matters a great deal to Indian journalists brave enough - and it can take great bravery - to criticise Modi

They are intensely concerned because they think that the attack on the BBC could set a precedent for further assaults on press freedom after all if an internationally respected organisation like the BBC can face intimidation, which Indian media outlet is safe?

RISK OF EMBOLDENING MODI: The silence is deafening It is also deeply unusual after China banned the BBC in 2021 then-Foreign Secretary Dominic raab declared the move to be “an unacceptable curtailing of media freedom” and when concerned about increased propaganda from the russian state” in 2022, the uK government gave the BBC £4 1m (over $5m) to “fight russian disinformation Yet on India, there is no sign that the government

cares It is not just Sunak who has been inert Foreign Secretary James Cleverly is a self-styled champion of free speech and expression But he doesn’t speak out about this brutal attack on a great British national institution in India ram called Sunak’s silence “disgraceful” “If something like that happened to an Indian institution in the uK, would not the Ministry of Foreign affairs or the prime minister ’s office come out with a statement of concern? I think they would he said after the tax raid began

“So the uK government - I think this is a pathetic response, or a non-response, to something which is very serious that s happened that all these allegations are suddenly being hurled against a highly respected national institution, which is really an international institution today ”

The Sunak government risks emboldening Modi in his authoritarianism at a pivotal moment in India’s history, with experts warning that Indian Muslims potentially face genocide

Indian journalist Karan Thapar, speaking about the attack on the BBC, said that the “damage that has been done is to our country to our country s reputation to our country’s standing as a democracy, and that means that the damage has been done to something that matters to all of us as Indian people

It’s hard to think of a previous British prime minister who would allow a foreign power to trash free speech and attack a British institution in this way It s tempting to reflect that Starmer is right and Sunak isn’t up to the job

Imran Mulla has written for The Critic Conservative Home Athwart Panoramic the Magazine and Traversing Tradition among others Peter Oborne won best commentary/blogging in both 2022 and 2017 and was also named freelancer of the year in 2016 at the Drum Online Media Awards for articles he wrote for Middle East Eye

M y t h s o f t h e P e n t a g o n

temporary home, with plans on eventually transforming the space into either a hospital, an office or a warehouse But as World War II arrived and then the Cold War, the building was named the permanent home of the office of the Secretary of Defense and the chiefs of staff of the army, navy, Marine Corps, and air Force

Among the strangest stories about the pentagon comes one from the chilly early days of the Cold War, when the Soviet union and the united States had just begun to spy relentlessly on each other with satellites according to the legend, in the pentagon s center courtyard crowds of military and civilian officials would gather at the same time every day around a small building Watching from space russian intelligence believed the building was an entrance to an underground bunker or a secret briefing room In reality, the crowds came and went on lunch breaks because the building was a popular hot dog stand rumor has it that during the Cold War, the russians never had any less than two missiles aimed at this hot dog stand,” said Brett eaton, a pentagon information and communications officer They thought this was the pentagon s most top secret meeting room, and the entire pentagon was a large fortress built around this hot dog stand under the assumption that Soviet missiles bristling with nuclear warheads were aimed at the stand, it earned the nickname Cafe Ground Zero

But the pentagon, which has served as the headquarters for the Department of Defense since it was opened in 1943 has more secrets and history behind it than just a popular lunch spot Here’s everything you need to know about the pentagon

In 1941, army Brig Gen Brehon B Somervell, head of the Construction Division of the Quartermaster Corps began formulating plans to create a new headquarters for what was then the War Department The attacks on pearl Harbor had not yet occurred but assisting the allies in europe had become a real possibility

Initially, the pentagon was supposed to be a

It’s not as complicated as one would think arlington Farms in Virginia was designated as the initial site for construction The plot of land connected to five roadways, so the building was designed with five sides one for each approach However, president Franklin D roosevelt feared the massive structure would obscure the view of Washington DC from arlington national Cemetery and decided it should instead be built farther south at the former site of Washington-Hoover airport

THE PENTAGON IS THE LARGEST OFFICE BUILDING IN THE WORLD: Construction took only 16 months The enormous undertaking included about 1,000 architects and 14,000 tradesmen The team worked around the clock in three shifts To conserve precious war materials like steel, construction crews devised creative ways to reinforce the concrete structure For example, workers used approximately 689,000 tons of sand and gravel from the nearby potomac river

The final budget tallied $63 million or more than $900 million in today’s dollars on an expedited schedule, the building was finished in January 1943 at the height of World War II, more than 33,000 civilians and military personnel worked there

The structure is famously five ringed corridors, each five stories tall with two basement levels remarkably, there was originally just one elevator Those who couldn’t take stairs accessed special ramps from floor to floor When World War II ended, plans to scrap the pentagon were canceled Many innovations have since been added; a 17-year project to install 70 elevators began in 1994 and finished in 2011

The pentagon claims recognition as the largest office building in the world by floor area It s so big that the building has six ZIp codes 6 5 million square feet of office space (three times the floor space of the empire State Building), and even a mini shopping mall at the heart of the construction was Col

Leslie Groves, an officer from the army Corps

of engineers Groves drove the project hard and required one of his deputies, Maj robert Furman to be at the pentagon all hours of the day every day With nearly no opportunities to go home, Furman pulled some construction contractors aside and had them build him a secret apartment between the walls of what became the army’s ordnance Division It didn’t take long until employees started referring to him as a ghost, disappearing without a trace and reemerging the next day, never leaving the building Furman later served as an intelligence officer on the Manhattan project, the top-secret program to develop nuclear weapons When he traveled back to Washington for that work he continued to use the windowless apartment, slipping in and out around employees eventually, curious ordnance officers discovered his crash pad, and he was forced out The Ghost of the pentagon, it seems, really was only looking for a place to rest on the morning of Sept 11, 2001, american airlines Flight 77 was hijacked by terrorists who crashed the plane into the west side of the pentagon The impact penetrated three of the pentagon’s five corridor rings, killing 189 people in the plane and building, including the five hijackers But there was a stroke of luck: The attack’s impact zone hit an area undergoing construction new sprinkler systems, increased structural support and blast-resistant windows helped limit the amount of destruction More importantly, only 800 of about 4,500 people typically occupying the section were present

Three days after the attacks, the pentagon awarded contracts to rebuild the damaged areas of the building This repair and renovation endeavor became known as the phoenix project and ultimately cost more than $5 billion The Cold War-era hot dog stand long since replaced by a food court, was wrecked by jet fuel, smoke, and water a modern replacement court opened just six months later followed by two more and a supermarket The phoenix project was completed in February 2003 as the pentagon shifted focus from hunting al Qaeda in afghanistan to war in Iraq

Matt Fratus is a history staff writer for Coffee or Die He prides himself on uncovering the most fascinating tales of history by sharing them through any means of engaging storytelling

CORPORATE CORNER R e a l e s tat e : a b o g e y m a n i n Pa k i s ta n ' s e c o n o m y

islamabad

N e w S d e S k

NOT-BY-PROFIT

Standard Chartered Bank Pakistan Ltd has delivered a record profit before tax of PKR 50 1 billion, registering an increase of 102 percent year on year Performance was driven by strong income growth as well as continued cost and risk discipline PR

PAF contingent lands back after successful par ticipation in exercise spears of vic tor y, 2023

The contingent of Pakistan Air Force landed back at an operational air base of PAF after successful participation in Exercise Spears of Victory, 2023 held at Air War Centre

Dhahran (King Abdulaziz

Air Base), Kingdom of Saudi Arabia The adroit PAF Pilots upheld their mastery and legacy of professionalism amongst the aircrew of the eight participating air forces

During the exercise JF-17 fighter of Pakistan Air Force was pitched against multiple state of the art fighters of the world, where the PAF s fighter jet proved its combat potential and agility Pakistan Air Force fighters also practiced multiple tankings in one go from Dhahran to Peshawar through PAF s own tanker IL-78 aircraft after the culmination of the exercise The non-stop flight of jets through inflight refuellings is yet another milestone marking a momentous stride towards unconquerable aerial defence of motherland The indigenous and imperative achievement reflects the sound foothold of operational training of PAF personnel in line with the latest developments in aerial warfare P R

Monitoring Committee reviews arrangements for census at Planning Ministr

y

Minister PD&SI appreciated PBS on successful launch of first Milestone i e Self-EnumerationPortal “An Innovation” and directed all stakeholders for following the timelines of Census and assure credible, reliable and transparent Census Sixth Meeting of Census Monitoring Committee was held, under the chair of Minister of Planning, Development and Special Initiatives, Prof Ahsan Iqbal on 21st February, 2023 at 12 30 pm in M/o PD & SI Professor Ahsan Iqbal

Federal Minister PD&SI chaired the sixth meeting of Census Monitoring Committee (constituted in pursuance of decision taken in 49th meeting of Council of Common Interest (CCI) held on 13th January, 2022 to oversee/ monitor Census activities to ensure an expeditious, transparent and credible census operation) on 21st February 2023 at Planning Commission S ta f f R e P o R t

BoP announces financial results for year ended Dec 31, 2022

Lahore: A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on February 17, 2023 During the meeting, annual audited Financial Statements of the Bank for the year ended December 31, 2022 were approved by the Board The Board, while reviewing financial performance of the Bank, appreciated the efforts of Management for showing remarkable financial results despite very challenging economic conditions and political uncertainty along with once-in-a-lifetime natural disaster, i e the super floods of 2022 inflicted losses of USD 30 billion to our fragile economy and to the livelihoods of more than 30 million citizens

The Board noted with pleasure that despite all the headwind due to global and macroeconomic conditions, Bank has improved in all areas of operations and overall performance has remained well aligned with Bank s strategic business plan This is being acknowledged by the Market as during the period under review, BOP has been awarded with 11 prestigious domestic and international awards and accreditations during one year which is unprecedented and exceptional in the industry, including; the Corporate P R

DR Abdul Wahid, author of Dawn, highlights the role of real estate in Pakistan's economy and its impact on the country s financial landscape The real estate sector in Pakistan is plagued with numerous issues including overpricing, artificial growth, and various manipulations speculation and lack of transparency and regulation in the industry have resulted in significant asset-price bubbles leading to a volatile market Moreover, the lack of reliable data has made it challenging for investors to make informed decisions similar to the casino sector, the

real estate market has created a pricing bubble, which has widened the gap between intrinsic value and market value This has resulted in an affordability crisis as the cost of housing has outpaced the wealth growth of the middle class information cascades media conditioning under state patronage, and speculative investments are driving the market expatriates use information casc a d i n g t o m a k e r e a l e s t a t e i n v e s tm e n t d e c i s i o n s , w h i c h r e f e r s t o decisions made by people based on t h e a c t i o n s a n d d e c i s i o n s o f t h o s e a r o u n d t h e m T h e a c t i o n s o f o t h e r s act as guidance for those seeking to avoid the uncertainty of personal decisions Additionally, various housi n g s o c i e t i e s h a v e a g r e e m e n t s w i t h

r e n o w n e d e d u c a t i o n a l i n s t i t u t i o n s , h o s p i t a l s , a n d s c h o o l s , f u r t h e r i ncreasing real estate prices institutional naming is a powerful marketing tool that contributes to t h e p r i c i n g p r e m i u m , a s i t c a n i nc r e a s e t h e p e r c e i v e d v a l u e o f a n y p r o p e r t y M o r e o v e r t h e u s e o f t h e n a m e o f g o v e r n m e n t i n s t i t u t i o n s without their respective permission i s a s e e m i n g l y l e g a l p a r a d o x t h a t creates a sense of security and prestige, leading to artificial growth and a price boom in the market

The housing market in Pakistan has seen a financial boom in recent years However this growth is artificial and not driven by organic economic growth instead, it is fueled by factors like speculative investments

Reviving the inheritance tax

islamabad

N e w S d e S k Afshan subohi, a Dawn author, argues that burdening ordinary citizens with additional levies is inhumane when the government fails to provide basic amenities and security she calls for a revisit of the regressive tax framework in Pakistan and suggests tapping into the piles of unearned wealth accumulated by the elite class

Recently, an amendment in the Finance Act 2022 ruled to tax capital gains on the sale and purchase of property, including gifted and inherited estate, which experts believe has revived inheritance tax

However, some are against the move, considering it an additional burden on people and companies already in the tax net, and believe the government should broaden the tax net instead

Pakistan had an inheritance tax called estate Duty Act 1950 for 29 years until it was abolished by General Zia ul Haq Afshan subohi highlights that M Abdul Aleem, secretary General of the overseas Chamber of Commerce and industry, recognized the utility o f i n h e r i t a n c e t a x i n d e v e l o p e d countries but believes that Pakistan, with over 40 taxes, including provincial and local ones, is not yet ready

S elf enumeration por tal set up at PBS for first- ever digital census

Federal Minister of information Technologyand Telecommunications, syed Amin ul Haqueinaugurated the seLF eNUMeRATioN PoRTAL of 7th Population and Housing Census 2023 as PBs isgoing to conduct Pakistan’s first ever Digital Population and Housing Census

The ceremony was attended by stakeholders provincial functionaries, demographers and senior officers of PBs Upcoming 7th Population and Housing Census is a paradigm shift towards digitization self-enumeration is one of the innovation and convenience that this Digital Census has brought in statistical system of Pakistan Through self enumeration portal, it is easy to enter household information After completing this milestone, Pakistan will become the first country insouth Asia to offer the facility of self-enumeration” Chief Census Commissioner Dr Naeem uz Zafar appraised the participants of the ceremony He further informed that Geo tagging, Tablet based data collection, real time mon-

itoring, Complaint management system and computer assisted telephonic interviews for quality assurance will link the whole process with credibility, reliability and transparency

He appreciated the efforts of PBs and collaborating partners for working day and night for achieving this milestone Mr Muhammad sarwar Gondal Member ResourceManagement /support services informed the participants about the background and efforts that were made to achieve the goal of Digital Census in Pakistan

KaRachi P R

Pakistan Navy, Pakistan Maritime security Agency (PMsA) and Anti-Narcotics Force (ANF) seized narcotics worth Rs 3Bn in a joint intelligence based counter narcotics operation in North Arabian sea The arrested smugglers and confiscated cache has been handed over to ANF for further legal proceedings

The successful joint anti-narcotics operation by Pakistan Navy, PMsA and ANF reaffirm resolve to deny illegal activities in maritime zones of Pakistan and to synergize efforts of Maritime Law enforcement Agencies in ensuring security of our waters

PR

Chief executive iesCo dr Muhammad amjad khan iesCo management and field formations have always tried to address the issues of esteemed customers on priority basis while at the same time ensuring the provision of best services to them in the

same spirit and with a sense of professional responsibility, iesCo has issued

information cascades, and media conditioning under state patronage The market is at a strong risk of crashing in case of dried foreign investments or if the government decides to introduce strict and controlled policies

As a result, the gap between investors and the real estate market endusers is widening, creating a severe housing affordability crisis in Pakistan This has ultimately turned out to be a bogeyman for middle-class endusers and an economic bogeyman for the state it is crucial to address the issues plaguing the real estate market to ensure sustainable economic growth and development in the country

To read the full article visit www dawn com

for it

However, saroop ijaz, a prominent lawyer associated with the Human Right Watch, rooted for inheritance tax and dismissed grounds for its opposition, stating that it was part of a larger attempt to take an aboutturn in the nation’s march towards progressive taxation

To read the full article visit www dawn com

coMsATs University islamabad response on controversial english composition quiz

A matter dated January 5, 2023, regarding an objectionable quiz was highlighted on social media recently The COMSATS University Islamabad (CUI) has always taken academic integrity very seriously In the instant case, a visiting faculty hired temporarily for a semester, used inappropriate and unethical content in a quiz Being not in line with the values and norms of any educational institution, resultantly, the CUI acted as per rules and regulations, by sacking the visiting faculty and blacklisting him for any future employment at CUI As per details, a visiting faculty was hired on temporary basis to teach two courses for Fall 2022 semester at COMSATS University Islamabad (CUI), Islamabad Campus The matter, regarding the unethical contents of the quiz of the subject, English Comprehension and Composition, was reported by the Head, Department of Humanities, CUI Islamabad Campus on January 05, 2023 A meeting was convened on the same day under the convenorship of the Rector CUI where it was observed that the contents of the quiz were highly objectionable and unethical Keeping in view the severity of the matter, the services of visiting faculty were immediately terminated, and he was blacklisted for any future employment at CUI It is important to note that as per practice each course is evaluated during a semester through a minimum of four quizzes, four assignments, a mid-term exam, and a final examination As per practice, final and mid-term exams are submitted in sealed envelopes by a faculty member to the Head of Department

However, quizzes announced or unannounced, are conducted by a faculty member during the scheduled classes without any external moderation, similar to any other university In this specific instance, the quiz (not exam) was given solely by the visiting faculty member as per practice

Nevertheless, keeping in view the rules, regulations, ethical and cultural values of the University, a severe action was taken right away P R

Chairman PARC, Dr Ghulam Muhammad Ali inaugurating a new Green House at PARC Arid Zone Research Center (AZRC) Umerkot alongwith senior scientists of PARC/AZRC (Dte of PR&P, PARC PR

China issues GLobaL seCurit y initiative ConCept paper, CaLLinG to resoLve disputes

BEIJING

Ag e n c e s

Ch I N A issues Global Security Initiative (GSI) Concept Paper, calling to resolve disputes through dialogue and rejecting power politics

A nuclear war cannot be won and must never be fought China announced in the Global Security Initiative Concept Paper it released on Tuesday amid growing risks and challenges that the world faces today, particularly in light of the Ukraine crisis, with the aim of eliminating the root causes of international conflicts and improving global security

Accoeding to China Global Times

Chinese Foreign Minister Qin Gang told a forum here on Tuesday that China had officially released the Global Security Initiative Concept Paper, fully elaborating ideas and principles, clarifying cooperation mechanisms and underscoring China’s responsibilities and firm determination to safeguard world peace by listing 20 major cooperation directions

The paper firmly supports a UN-centered security governance structure and supports its efforts to prevent war and lead in post-war reconstruction, calling for major countries to play a leading role on

global security issues to reject hegemony and bullying and to build a peaceful coexistence, delivering stable and balanced relations between major countries, Qin said

The concept paper includes several core concepts and principles including remaining committed to the vision of common, comprehensive, cooperative and sustainable security respecting the sovereignty and territorial integrity of all countries and abiding by the purposes and principles of the UN Charter, taking legitimate security concerns of all countries seriously

It also highlighted that countries should remain committed to peacefully resolving differences and disputes between countries through dialogue and consultation, maintaining security in both traditional and non-traditional domains

The GSI represents a core idea underscoring a human community with a shared future, which has been welcomed and supported by over 80 countries and regions, Qin said

To realize this vision China will hold high-level GSI-related events and invite various parties to discuss security matters, which is not the privilege of a select few countries, the Chinese foreign minister said “GSI is open and inclusive, and if any country would join the initiative and sincerely wants to safeguard world peace,

Ladakh people vow to continue agitation till demands are met

In Ladakh part of Indian illegally occupied Jammu and Kashmir groups, people have announced to continue their agitation till struggle for their rights prove successful According to Kashmir Media Service the Leh Apex Body (LAB) and the Kargil Democratic Alliance (KDA), which represent people from the two districts of Ladakh-Leh and Kargil- demand statehood, protection under Sixth Schedule, job reservation for local residents, a separate public service commission for Ladakh and two parliamentary seats for Leh and Kargil

The Leh Apex Body (LAB) and the Kargil Democratic Alliance (KDA) recently held protests in Ladakh Jammu and New Delhi KDA member Sajjad Kargili said, “Though the locations for future protests have not been planned as of now, the agitation will continue till our demands are fulfilled ”

LAB member Jigmet Paljor said the agitation was getting stronger day by day “Till the [Modi] government accepts the demands of the people of Ladakh, the protest will not weaken he said

we ll support that Qin said

As part of the concept paper, China calls on all countries to practice true multilateralism, resisting a Cold War mentality, unilateralism, bloc confrontation and hegemonism Countries should firmly uphold the consensus that a nuclear war cannot be won and must never be fought and promote political settlement of international and regional hotspot issues

“It has been a year since the Ukraine crisis has escalated in an all-round way, and the situation has attracted international attention The Chinese side is deeply concerned about the escalating conflict and potential for developments to spiral out of control Qin said

Since the outbreak of the crisis, China’s position has always been based on right and wrong and has abided by objectivity and fairness Chinese President Xi Jinping put forward “four musts”, “four commons” and “three points of thinking”, which have played a responsible and constructive role in easing the situation and resolving the crisis, Qin said China will continue to promote peace talks provide Chinese wisdom for a comprehensive solution to the Ukraine issue, and work with the international community to promote dialogue and consultation to address the concerns of all parties to

seek common security Qin said

At the same time, we urge relevant countries to immediately stop adding fuel to the fire, stop blaming China and stop provoking the situation by using references like Ukraine today, Taiwan tomorrow

During the speech, Qin also noted that China’s development cannot be separated from a stable international environment Similarly, without China’s security, there will be no global security

“The external suppression and containment of China has been continuously escalated and intensified, posing a serious threat to China’s sovereignty and security,” he said

Some attendees at the forum told the Global Times that they welcome China’s proposal and that it’s important to resolve global and regional issues of concern through dialogue

“Without peace, there can be no development,” Siyabonga Cwele, Ambassador of South Africa to China, told the Global Times during the forum he noted that the world is facing many crises including the post-pandemic recovery, climate change and non-traditional security threats “We’ll support any initiative that supports sustained peace and development for common prosperity and development,” he said

20th CPC Central Committee to hold 2nd plenar

y session

The second plenary session of the 20th Communist Party of China (CPC) Central Committee will be held from February 26 to 28 in Beijing according to a decision made at a meeting of the Political Bureau of the CPC Central Committee held in Beijing on Tuesday Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting The meeting discussed a work report of the Political Bureau of the CPC Central Committee to the CPC Central Committee

Also discussed at the meeting was a draft plan for the reform of Party and state institutions, and it was decided that the plan would be revised according to the opinions pooled at the meeting and submitted to the upcoming plenary session for deliberation

The meeting discussed a list of proposed candidates for the leading positions of state institutions to be recommended to the first session of the 14th National People’s Congress and a list of proposed candidates for the leadership of the Chinese People’s Political Consultative Conference (CPPCC) National Committee to be recommended to the first ses-

sion of the 14th CPPCC National Committee

The work report, the draft reform plan and the proposed candidates’ lists will be on the agenda at the second plenary session of the 20th CPC Central Committee, according to the meeting

Since the 18th CPC National Congress in 2012, the CPC Central Committee, with Comrade Xi Jinping at its core has been making the reform of Party and state institutions a significant task in the drive to modernize the country’s system and capacity for governance, according to the meeting Party and state institutions have been reformed to achieve a systematic and thorough restructuring of

indian politician promises employment , securit y to men who ‘trap 10 Muslim girls for each hindu girl’

Indian politician Pramod Muthalik has urged young hindu men to lure “10 Muslim girls if we lose one hindu girl through what he called love jihad” and promised to provide them security and employment Muthalik, the chief of the hindu nationalist party Sri Ram Sena, while speaking at a public event in Karnataka s Bagalkote on Feb 19, alleged that thousands of hindu girls were being “exploited in the name of love jihad”, the belief that Muslims are seeking to deceive hindu women through marriage and convert them to Islam

“We are aware of the situation I would like to invite the youth here If we lose one hindu girl, we should trap 10 Muslim girls If you do so, Sri Ram Sena will take responsibility for you and provide every kind of security and employment,” the report quoted Muthalik as saying

Our girls are exploited in love jihad Across the country, thousands of girls are cheated in the name of love We should warn them,” the politician further said

The report also stated that in a conversation with The Indian Express, Muthalik had said that he had made similar statements more than 10 times and would continue to do so to “protect hindu women I am not saying this because elections are around the corner My statements have always been in the interest of hindus,” the report quoted him as saying

The report added that Muthalik’s comments have been widely criticised, with “love jihad” considered to be a baseless conspiracy theory that courts have rejected

their functions the meeting noted stressing that the reform has provided a strong guarantee for achieving historic achievements and changes in the cause of the Party and the country and accumulated precious experience for further reform of Party and state institutions

At the 20th CPC National Congress, important plans were made for deepening the reform of Party and state institutions the meeting said

It underscored efforts to ensure that the Party’s leadership over socialist modernization becomes more refined in institutional setup, more optimized in the division of functions, more improved in institutions and mechanisms, and more efficient in operation and management

The Indian politician s remarks were condemned by a number of civil society members in the country Journalist Mohammed Zubair who was arrested for allegedly insulting hindu religious leaders on Twitter asked why the Karnataka police was not taking action against Muthalik

Author and activist Rahul Easwar tweeted that “in our Arsha Bharatha Sanskriti, we consider woman as devatas [goddesses]”

“It’s up to every Patriot to serve & protect all women from all traps this way or that way he added

In another tweet, he said: “Can we pls spare our hindu and Muslim sisters out of this?? And we males fight/debate these topics without ‘trapping/dragging in Indian woman’ ”

Indian director Mansoor hussain Khan said that Muthalik’s “bigoted and sexist hate speech” had brought shame to the people of Karnataka he also called on the police to take strict action against the politician Ag e n c i e s

C hina says deeply concerned over ‘out of control ’ Ukraine conflic t

BEIJING

China’s foreign minister said Tuesday that Beijing is deeply concerned about the conflict in Ukraine, which is “intensifying and even getting out of control”

China has sought to position itself as a neutral party on the crisis in Ukraine, while maintaining close ties with its strategic ally Russia

Beijing has pledged to publish a proposal aimed at finding a “political solution” to end the war ahead of the first anniversary of Russia’s invasion on February 24

The United States has accused China of mulling arms shipments to Russia claims Beijing has denied

“It has been nearly a year since the crisis in Ukraine escalated across the board,” Chinese foreign minister Qin Gang said at a conference on global security in Beijing

“China is deeply concerned that the conflict is intensifying and even getting out of control Qin urged the countries concerned

to stop adding fuel to the fire as soon as possible, to stop shifting the blame to China”

Beijing would “offer Chinese wisdom for the political settlement of the Ukrainian crisis, and work with the international community to promote dialogue and consultation address the concerns of all parties and seek common security,” he added

And regarding the self-ruled island of Taiwan, which China considers its territory, Qin urged countries to “stop making an uproar by shouting Today Ukraine Tomorrow Taiwan'

“The pressures and attempts to contain China, coming from the outside, are getting stronger and stronger they are getting worse and worse, posing a serious threat to China’s sovereignty and security,” he said

China’s top diplomat Wang Yi told the Munich Security Conference on Saturday that with regard to the Ukraine conflict, Beijing was against attacks on nuclear power plants, opposed the use of biochemical weapons and was willing to work with all parties

‘R e d l i n e’: Wang is due in Moscow for talks on his final stop of a European tour that has seen him also visit France, Italy, hungary and Germany

The Kremlin said on Monday that Wang may meet with President Vladimir Putin during his visit according to the official TASS news agency

The high-level visits follow accusations by US top diplomat Antony Blinken that China could be “considering providing lethal support to Moscow ranging from ammunition to the weapons themselves”

The EU’s foreign policy chief said he had warned Wang at a meeting over the weekend that any material support for Moscow’s war would be a “red line in our relationship”

“he told me that they are not going to do it, that they don t plan to do it But we will remain vigilant,” Josep Borrell told journalists Monday ahead of a meeting of EU foreign ministers in Brussels Beijing on Monday rejected the allega-

tions, accusing Washington of “spreading false information”

“It is the United States and not China

that is endlessly shipping weapons to the battlefield,” China’s foreign ministry spokesman Wang Wenbin said

Engl and l ay down a markEr with rEcord win ovEr Pakistan

EN G L A N D smashed the highest score in the history of the Women’s T20 World Cup and won by the biggest margin ever seen at the tournament, hammering Pakistan by 114 runs in Cape Town

MAtCh Centre AnD SCore-

CArD: The England batters warmed up for the knockout stages with a thrilling display smashing Pakistan s attack to all corners of Newlands as they reached 213/5 in their 20 overs

And the reply never really got going as Pakistan ended their tournament in disappointing fashion, managing to avoid being bowled out, but finishing on 99/9 england win by a record margin!

That s quite the way to warm up for the semi-finals

England had rung a change to their playing XI leaving out Lauren Bell for Freya Davies to set up a possible showdown between Davies and under-pressure Katherine Sciver-Brunt for semi-final selection

But it was the veteran Sciver-Brunt who impressed of the two, striking with

just her second ball to remove opener Sadaf Shamas for a duck, and finishing with excellent figures of 2/14 from her four overs

England’s bowlers looked in good form, with Charlie Dean also picking up two wickets and Sophie Ecclestone conceding just 11 runs from her four overs Pakistan did well to avoid being

K

h i K

injured warner ruled out of india tour as australia problems grow

SYDNEY

Australia opening batsman David Warner will return home from India and miss the last two Tests after an elbow fracture and concussion, Cricket Australia said Tuesday It is the second injury blow in two days for struggling Australia, who are 2-0 down in the four-Test series Fast bowler Josh Hazlewood was sent home Monday after failing to recover from an Achilles tendon injury Warner was hit on the helmet shortly after being struck on the elbow on the opening day of the second Test defeat in Delhi He was replaced by concussion substitute Matt Renshaw Warner, who scored just 26 runs as Australia lost both of the opening two matches, will miss the third and fourth Tests at Indore and Ahmedabad but it is hoped he can return for the subsequent one-day series “David Warner has been ruled out of the Test tour of India and will return home,” a Cricket Australia statement said After further assessment he will require a period of rehabilitation which will preclude any further involvement in the remainder of the Test series It is currently anticipated that he will return to India for the three one-day internationals which follow the Test series

bowled all out ensuring that the innings went all the way through its 20 overs, with number nine Tuba Hassan top-scoring with 28

But a stumping off the final ball of the inning saw Pakistan finish on 99/9, meaning a 114-run loss – the greatest margin of defeat in Women’s T20 World Cup history

Earlier it was England who won the toss, presenting Heather Knight’s side with the opportunity to bat first and get some time out in the middle in Cape Town, with the ground set to host all of the tournament’s knockout matches

And they got off to a flier, scoring 55 runs in the Powerplay Pakistan did remove the dangerous pair of Sophia Dunkley and Alice Capsey for low scores (2 and 6 respectively) But England’s attacking intent was clear as they kept the pressure up on the Pakistan attack

A superb partnership between Danni Wyatt and Nat Sciver-Brunt saw England pass 100 inside 11 overs, before Wyatt cracked the second fastest 50 by an England batter at Women’s T20I World Cup (29 balls) as she hit a quickfire 59 off 33 balls before being caught in the deep Runs continued to flow, but there was a high point for Pakistan when Nida Dar removed England captain Knight to see the bowler move clear as the top wickettaker in the history of women’s T20Is England may have been four down, but that didn’t slow the rate of scoring

In fact the run rate increased in a thrilling late partnership between Nat Sciver-Brunt and Amy Jones

f o r f i r s t away H B L P S L 8 c l a s h

Karachi Kings squad has reached here ahead of their first away HBL Pakistan Super League (PSL) season eight clash with home side Multan Sultans scheduled tomorrow Wednesday

The Kings, who get to the winning track following their dominating 67-run victory over Lahore Qalandars on Sunday are up for the toughest challenge as they take table-toppers Sultans in their fifth match of the season Upon their arrival here, the Kings’ squad received a warm welcome from cricket fans

“Thank you for the wonderful welcome Multan! wrote Kings on

Twitter as the franchise shared pictures of their squad s arrival here According to the details, the Kings will hold a practice session at Multan Cricket Stadium tomorrow

It is pertinent to mention that the Kings hold the third spot with two points, behind Peshawar Zalmi, while the Sultans lead the standings with six points in four matches

Nida Dar creates histor y in Women’s T20I cricket

ISLAMABAD: Pakistan all-rounder Nida Dar has gone past West Indies’ Anisa Mohammad to become the leading wicket-taker in women s T20Is with 126 wickets Dar reached the milestone while playing against England during the ICC Women’s T20 World Cup match on Tuesday The all-rounder took 130 matches to pick up 126 wickets

Last month, Dar was included in ICC Women’s T20I Team of the Year for 2022

With 15 wickets at an average of 18 33 and an economy rate of 5 50 in T20Is in 2022, Pakistan’s veteran offspinner Nida Dar enjoyed one of the best bowling years in her career

The all-rounder ’s best came against arch-rivals India in the Women’s Asia Cup when she made 56* off 37 balls with the bat before taking 2/23 with the ball to win the Player of the Match award as Pakistan notched up a rare win over India Dar is also the leading the side against England today in absence of Bismah Maroof who is not available due to injury Despite Dar ’s achievement, England went onto score a mammoth total of 213-5 against Pakistan in 20 overs The all-rounder conceded 47 runs in her four-over spell S TA F F R E P O R T

Bn Polo, mP/newage win openers as 2nd President Polo cup 2023 begins

LAHORE

BN Polo and Master Paints/Newage (MP/Newage)

Polo emerged victorious on the opening day of the 2nd President of Pakistan Polo Cup 2023 here at Jinnah Polo Fields on Tuesday

Juan Maria Tito Ruiz guided BN Polo to an emphatic 10-6 triumph over Remounts in the first match of the opening day From BN Polo, Juan Maria Tito played a brilliant game and contributed with five fabulous goals while Hamza Mawaz Khan fired in four fantastic goals and Roberto Arias converted one goal

Manuel Sundblad slammed in three goals while Ahmed Zubair Butt banged in a brace and Imran Shahid struck one goal for Remounts

BN Polo started the match in great style as they hammered a hat-trick of goals against one goal by Remounts to take a 3-1 lead The second chukker was evenly poised as both the sides played well and converted two goals each with BN Polo still enjoying a 5-3 lead The third chukker was identical to the second one as both the teams converted two goals each with BN Polo stretching their lead to 7-5 BN Polo dominated the fourth and decisive chukker by pumping in three goals against one by Remounts to win the match by 10-6

Juan Cruz Greguoli’s heroics helped Master Paints/Newage Cables thrash HN Polo by 7-1½ in the second match Greguoli was hero of the day for the winning side as he thrashed in three tremendous goals while Simon Prada banged in a brace and Raja Taimur Nadeem and Farooq Amin Sufi converted one goal each Santi Lusa scored the only goal for team HN Polo, which had a half goal handicap advantage Master Paints/Newage Cables dominated the match right from the word go as they slammed in three back-to-back goals to gain a 3-0 lead They added one more goal in their tally in the beginning of the second chukker to enhance their lead to 4-0 while HN Polo struck one to reduce the margin to 4-1 Master Paints/Newage continued their dominance in the third chukker and hammered another hat-trick of goals while no more goal was converted in the fourth and last chukker, thus Master Paints/Newage winning the match by 7-1½ as HN Polo had a half goal handicap advantage

A large number of spectators were present to watch the first day’s matches Jinnah Polo Fields President Lt Col Shoaib Aftab (R), Secretary Maj Ali Taimur (R) and a large number of spectators were also present on this occasion Col Shoaib expressed his special thanks to the sponsors, Takmeel Square, for supporting the game of kings and knights

Liverpool ’s reunion with Real M adrid a reminder of Paris pain for fans

A reunion with Real Madrid in the Champions League on Tuesday serves as a reminder to Liverpool fans of the failings that put their lives at risk at last year ’s final in Paris

Madrid s 1-0 win at the Stade de France on May 28 was overshadowed by the scenes surrounding European football’s showpiece event

Kick-off was delayed by 37 minutes as fans struggled to access the stadium after being funnelled into overcrowded bottlenecks on approach

Police then fired tear gas towards thousands of supporters locked behind metal fences on the perimeter to the stadium

An independent report, commissioned by UEFA and published last week found that European football’s governing body bore “primary responsibility” for failures which “almost led to disaster”

There were no fatalities in the French

capital, but there was still a physical and mental price to pay for both the lack of organisation on the part of the authorities before the match and mudslinging towards supporters in the aftermath

Ted Morris, chair of the Liverpool Disabled Supporters Association described the scenes he witnessed as a “carnival of horror ”

For many Liverpool fans, the scenes brought back memories of a crush at Hillsborough Stadium in 1989 that resulted in the deaths of 97 supporters Some remain too scarred to return to watching matches live, even in the familiar surroundings of Anfield

I think we re still all suffering from the aftereffects of the final,” Joe Blott, chair of Liverpool supporters group Spirit of Shankly told AFP

“Many people I know and other people are struggling to get to the game now as a consequence of the crowd management ”

The Hillsborough Survivors Support Alliance has

seen a spike in fans seeking mental health support since events at the Stade de France Liverpool have worked together with mental health charities and put funding in place to help those struggling with flashbacks

“It’s vitally important that supporters know there is help out there if they feel they need it said Liverpool chief executive Billy Hogan

“Working together with a number of expert mental health organisations and with the support of (Liverpool’s director of public health) Matt Ashton’s expertise, this resource is still available to all fans

“It not only signposts people where to go for support but also offers advice to those dealing with the ongoing effects of such a distressing event ”

UEFA initially tried to pin the blame for the delayed kick-off on Liverpool fans arriving late despite thousands having been held for hours outside the stadium European football’s governing body finally apologised last week, but wounds re-

main open among the Liverpool support

The Champions League anthem is expected to be disrupted before kick-off of Tuesday’s last 16, first leg tie

“It’s good that the truth is out there,” said Gareth Robertson, a 25-year-old student outside Anfield on Monday “But they (UEFA) tried to get away with blaming Liverpool fans ”

a r a c

i n g s’ s q u a d re a c h e s M u l t a n

EnGro CorP STArTS 70 mIllIon ShArE buy-bACk Industr y wide price hikes in

EN G R O Corporation Limited (ENGRO) has started its massive 70 million share buyback, comprising approximately 12 1% of the total outstanding shares of the company The company started the buy-back by purchasing 1 323 205 shares last week on Friday and 891,646 shares on Monday, February 20th

The board of directors (BoD) of the company made the decision to buy-back last year in December Under the buyback rules, any such decision by the BoD needs to be approved through a special resolution in the Extraordinary General Meeting (EGM) of the company The EGM was held last month on January 26th where the members gave their approval to the company to officially start its buy-back

The buy-back period started on February 3rd but the first transaction didn’t take place until February 17th The purchase period is expected to go on till July 25th, 2023, or till the date the purchase of the 70 million shares is completed, whichever is earlier

The shares will be purchased by

ENGRO through the Pakistan Stock Exchange (PSX) at the current market price The purpose of the buyback is cancellation of shares The purchase of shares will be made in cash from the available distributable profits of the company ENGRO expects that the purchase/buy-back of the company’s issued ordinary shares will improve the earnings per share of the company Further, it will also provide an opportunity of exit to those shareholders who wish to liquidate their investments

These buybacks are a form of payout by the companies to its shareholders For buy-backs, companies typically use that cash which is available for distribution to its shareholders as dividends or to make other investments Such buy-backs can help raise the break-up value of the shares and also raise the market prices of these shares as they signify a confidence by the sponsors in their companies

History and financials

The principal activity of ENGRO is to manage investments in its various subsidiary companies, associated companies and joint venture companies, which are engaged in fertilizers, power generation, telecommunications infrastructure petrochemicals mining food LNG and chemical storages

ECP to consult government , legal experts on election declaration by Alvi

iSLAMABAD

s ta f f R e p o R t

The Election Commission of Pakistan (ECP) Tuesday held a meeting to discuss the decision made by President Arif Alvi to fix April 9 as the date for the elections to the provincial assemblies of Khyber Pakhtunkhwa and Punjab Alvi’s decision on Monday to hold the elections in the two provinces followed the dissolution of their respective legislatures by Pakistan Tehreek-i-Insaf (PTI) governments at the behest of former prime minister Imran Khan ahead of the completion of their constitutionally-mandated fiveyear terms in October

In its meeting members of the ECP decided to consult the Attorney General for Pakistan (AGP) and legal experts to examine the legality of the president’s move A meeting with the stakeholders has been scheduled for Wednesday

The tribunal stressed that it will take decisions in accordance with the Constitution and without any pressure As per the law and Constitution, the body is bound to hold polls within 90 days However, it claimed it is not responsible for setting the date of elections

According to the statement issued by the presidency, the date for the general elections for the two parliaments was set under Section 57(1) of the Elections Act, 2017 The law stipulates the president shall “announce the date of the general elections after consultation with the [election] commission ” The commission Tuesday explained that after the date of elections is fixed by a legitimate authority, the commission will be obligated to issue an election schedule and hold elections To seek guidance, the AGP has been invited to the meeting on Wednesday, and the names of two legal experts are also being discussed

Engro has a market capitalization of Rs 172 8 billion which is calculated as the total number of outstanding shares of the company multiplied by the current market price ENGRO has total outstanding shares of 576,163,230 while the current market price as of February 21st is Rs 299 94

The 70 million shares to be bought back make up approximately 12 15% of these total issued shares of the company The total free float shares, currently available in the market for trading, are 55% or 316,889,777 shares The buyback when it is completed will reduce the free float shares of the company by 22% to 246,889,777 shares

The new total outstanding shares of the company after the 70 million buyback will be 506,163,230 The new free float shares of the company will be 48 7%, down from a previous 55%

In the last financial year ending December 2022, ENGRO’s revenue increased 14% to Rs 356 4 billion

However it reported a Profit After Tax (PAT) of Rs 46 billion, down 11% on a yearly basis Its Earnings Per Share (EPS) was Rs 42 23, down from Rs 48 50 last year

Other buybacks

In 2022, six major companies on

the PSX announced share buybacks

The uncertain economic situation in Pakistan reduced the share prices of many profitable and established companies which made their valuations attractive Due to a lack of institutional and foreign investors in the market these companies decided to take advantage of the decline in their share prices to buy back their shares

It started with NETSOL in May (two million shares), followed by Maple Leaf Cement (25 million shares), then Lucky Cement (10 million shares), JDW Sugar Mills (two million shares) then BAFL (200 million shares), and finally ENGRO (70 million shares) The ENGRO buy-back is the latest ongoing buy-back In 2023 so far, we have seen two buy-back announcements: Kohat Cement Company Limited (KOHC) followed by Kohinoor Textile Mills Limited (KTML) We wrote a featured piece for Profit magazine at the end of last year titled ‘2022: the year of share buybacks’ The article predicted that “it might even be the case that the buybacks have only just started, and next year in 2023 we may see even more buybacks than the ones we saw in 2022 Time will tell ”

HSBC signals rate rise profit windfall has peaked even as payouts rise

pr ofit R e u t e R s

HSBC (HSBA L) dampened investors expectations of a sustained income bonanza from rising global interest rates, even after Europe s biggest bank reported a 92% surge in quarterly profit and pledging more regular dividends and share buybacks

The London-headquartered bank (HSBA L) said on Tuesday it would pay a special dividend of $0 21 per share, from the proceeds of the $10 billion sale of its Canada business

Despite the payout promises, however, the lender ’s shares fell 2% in Hong Kong as investors weighed income forecasts that analysts deemed moderate against an environment of rising rates

With its $1 3 trillion in customer deposits, HSBC benefits more than many smaller banks from central bank hikes that enable it to charge a wider margin on its loans and mortgages

The bank however said it expected net interest income to be at least $36 billion in 2023, shy of $37 billion forecasts and a $38 billion annualized figure analysts calculated from its latest quarterly numbers Chief Executive Noel Quinn told Reuters the conservative forecasts were partly due to pressure from competitors to raise rates on deposits, among other factors

“We are comfortable with consensus being around $37 billion, we are not looking to move that,” Quinn said HSBC has been working to

auto sector following GST increase

LAHorE

Da n i ya l a h m a D

Automotive companies across the board have revised their prices upwards following the Federal Board of Revenue’s (FBR) decision to increase the general sales tax (GST) from 17% to 18%

The FBR updated the Sales Tax Act, 1990 with S R O 179(1)/2023 to raise the GST Suzuki was the first company to amend its prices in response to the decision However, Suzuki’s decision set off a round of price increases with Toyota following suit in a matter of hours The price increases have carried on February 20 into February 21 with Lucky Motors, Road Price, Sazgar, and Yamaha also increasing their prices

Toyota’s new prices

The price increases are as follows:

improve its investor relations after facing pressure from its biggest shareholder, Ping An Insurance Group to split off its Asian business to boost returns, a strategy HSBC has rejected

The Asia-focused bank, which counts Hong Kong as its biggest market, also said it will return to paying quarterly dividends in 2023, and would bring forward the consideration of fresh share buybacks to the first quarter of 2023 HSBC’s London-listed shares currently trading at their highest in about three and a half years, have rebounded 45% from October 2022 lows when a drop in quarterly profit and a sudden change in its chief financial officer spooked investors and sent its shares tumbling 7%

C hatgpt launches boom in ai-written e -books on amazon

pr ofit

R e u t e R s

Until recently, Brett Schickler never imagined he could be a published author, though he had dreamed about it But after learning about the ChatGPT artificial intelligence program, Schickler figured an opportunity had landed in his lap “The idea of writing a book finally seemed possible,” said Schickler a salesman in Rochester, New York “I thought

I can do this ' Using the AI software, which can generate blocks of text from simple prompts, Schickler created a 30-page illustrated children’s e-book in a matter of hours, offering it for sale in January through Amazon com Inc’s self-publishing unit

In the edition, Sammy the Squirrel, crudely rendered also using AI, learns from his forest friends about saving money after happening upon a gold coin He crafts an acorn-shaped piggy

bank invests in an acorn trading business and hopes to one day buy an acorn grinding stone Sammy becomes the wealthiest squirrel in the forest, the envy of his friends and “the forest started prospering,” according to the book ‘The Wise Little Squirrel: A Tale of Saving and Investing,’ available in the Amazon Kindle store for $2 99 – or $9 99 for a printed version – has netted Schickler less than $100, he said

Lucky Motors’ new prices

The price increases are as follows:

Sazgar’s new prices

The price increases are as follows: Road Princes’ new prices

The price increases by Road Prince are as follows:

Yamaha’s new prices

The price increases are as follows:

A possible unaffordability crisis ahead

The increase in the GST is part of the Government s broader fiscal measures to increase revenue generation The measures, particularly the increase in GST, are expected to trigger a round of inflation across the board With January s inflation already at a five decade high, further inflationary pressures on customers are likely to further dampen automotive sales January sales data, provided by the Pakistan Automotive Manufacturers Association, saw a year-on-year (YoY) contraction of 31% with 7MFY23 sales down 34% YoY as well

govt maintains additional c ustoms, regulator y duties on impor ted c ars

vehicles will continue to have the higher regulatory duties introduced in 2022 intact, electric vehicles will not Imported electric vehicles will continue to remain exempt from regulatory duties, as they have been since November 21

206(I)/2023 are as follows:

Imported vehicles: Caught between a rock and a hard place

204(I)/2023 and SRO 206(I)/2023 These two extend the validity of SROs 1571(I)/2022 and 1572(I)/2022 which were set to expire on February 21 The aforementioned two SROs have now been extended till March 31 verbatim with the only change being the omission of electric vehicles from SRO 1571(I)/2022

This means that whereas other imported

Profit utilised the FBRs WEBOC platform to confirm whether this was true, and to no surprise we found that vehicles falling under the HS Code 8703 8090 were exempt from the 100% regulatory duty imposed by SRO 1571(I)/2022 HS Code 8703 8090 is the import code for electric vehicles

The regulatory duties outlined in SRO 1571(I)/2022, extended by SRO 204(I)/2023 are as follows:

The additional customs duties outlined in SRO 1572(I)/2022, extended by SRO

The duties coupled with the devaluation of the Pakistani Rupee, and the import ban over the summer has led to a collapse in the demand for imported vehicles Looking at

import data provided by the Pakistan Bureau of Statistics, seven month (July-January) sales for imported cars are at their lowest in the past six years

The current $37 million in imports is the lowest since the $43 million Pakistan recorded between July 2019 to January 2020