Epaper_23-03-12 LHR

In par tnership with Prospective car buyers stare into abyss as Toyota and Lucky Motors announce fifth price hike for 2023

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Pakistani gold demand jumps as prices rebound

Bilawal and UN boss discuss Afghanistan and other key issues

DMG Officers likely to capture key slots of DG, Director Hajj Operations

RefuTing ToRTuRe allegaTion, naqvi cl aiMS PTi SuPPoRTeR died in accidenT

g PUNJAB POLICE CHIEF CLAIMS ALI BILAL WA S HIT BY PTI LEADER ’S VEHICLE

LAHORE S ta

g IN ‘ LEAKED ’ CONVERSATION, MARYAM ADVISES ‘ UNCLE’ TO PORTRAY INCIDENT A S AN ACCIDENT

g IMRAN LAMENTS COUNTRY ‘ TAKEN OVER BY DANGEROUS DUFFERS ’

tor general of Punjab pol ce in a press conference on Saturday, denied the nvolvement of the provincia administration n the incident ca ling it an accident case that was unfortunately m sinterpreted by members of the pub ic

The po ice official cited CCTV footage and said the suspects had tried to save the vict m after hitting him False v deos and messages were posted on social media to portray the pol ce and the adm nistration in a bad light he added

He a so promised to share the investigation with B al s father Interest ngly, both Naqvi and Anwar fai ed to exp a n why Khan was charged with the death of Bi a if t was a road accident

‘DANGEROUS DUFFERS’

Responding to the presser Khan n a scathing tweet said the pol ce chief and caretaker ch ef minister in any civi ised countr y [ ] would have been jailed not just for lying so b atantly but for insult ng the intel igence of our nat on

40 supporters of Khan including Ali B lal also known as Z ll- -Shah were arrested for defy ng a sudden government ban on ho ding ral ies in the city

Hours later at least two unidentified people driv ng a Black Toyota H lux truck sneakily dropped Bilal 34 at Serv ces Hos-

pital where he was pronounced dead

The opposition party claimed he was viciously assaulted and killed while in pol ce custody According to his postmortem examinat on, conducted by a team from General Hosp tal Bilal died due to massive blunt trauma including a skull

Suspect in triple murder, Minister Khetran freed from jail on bail

S ta f f R e p o R t

Balochistan Minister for Communicat on and Works (C&W) Sardar Abdur Rahman Khetran has been re eased from District Jail Quetta on Saturday A b d u l Ra h m a n K h e t r a n i s o n e o f t h e s u s p e c t s i n t h e c a s e r e g i s t e r e d f o r t h e g r i s y m u r d e r o f t h r e e p e o p l e n c l u d i n g a w o m a n w h o s e b u l l e tr i d d l e d b o d i e s w e r e f o u n d f r o m a w e l l i n t h e B a r k h a n d i s t r i c t I t i s t o b e n o t e d t h a t a s e s s i o n s c o u r t i n B a r k h a n g r a n t e d b a i l t o S a r d a r A b d u r Re h m a n K h e t r a n o n Fr d a y

The gruesome Barkhan incident took place days after a video of a woman with the Holy Quran in her hands appeared on social media last month

In the video the woman claimed that she and her ch ldren were deta ned by Khetran She pleaded with the people to get her and her children freed

In tially, Khan Muhammad Marri, a res dent of Koh u claimed that the deceased are his wife and two sons He then went on to allege: Five slaves are still in the possession of Sardar Abdul Rehman

The triple murder ncident took a dramatic twist when a police surgeon after the post-mortem examination of the bodies revea ed that one of the victims was a 17 to 18-year-old female The surgeon sa d that the deceased was raped and tortured before be ng shot dead

The med co- egal officer said that the autopsy found that the girl was shot thrice in the head and her face and neck were mut lated with acid to h de her ident ty She said that the girl may not be Giran Naz but her daughter

Moreover the other two were also tortured before being ki led she added

On Februar y 22 Levies personnel recovered Marri s wife G ran Naz who had been presumed dead and their five chi dren includ ng a girl allegedly abducted by Khetran

The operation was conducted n light of Khan Muhammad s allegations

During the search operations Naz along with her chi dren Far zana Abdul Majeed Abdu Ghaffar

Imran and Abdul Sattar was recovered the Levies off cials said

The force took action in the areas of Koh u Dakki Barkhan and Dera Bugt as Khan Muhammad Marr s fam ly was held hostage at different locations

fracture and intracrania haemorrhaging

Subsequently on Fr day the police announced the arrest of two al eged suspects who claimed that Bi a died in an accident involving their car, and not as a resu t of po ice brutality However Dr Usman Anwar the nspec-

Addressing the reporters, Naqvi c a med Raja Shakeel a leader of the PTI party whose car he cla med dropped Bilal s body at the hospital nformed former health m nister Dr Yasmin Rashid that Bilal was hit by the car Anwar sa d two people who brought B lal to the hospita had been arrested and the vehicle belonged to Shakee He stressed that Bilal was kil ed due to an accident and that the CCTV footage showed the people who brought him to the hospital tr ying to rev ve him

This is what happens when the countr y is taken over by dangerous duffers who be ieve ever yone is as dumb as them he said

Meanwhile, BOL TV released an aud o recording allegedly featuring Mar yam Nawaz the senior vice president of Pakistan Muslim League-Nawaz (PML-N) proposing to cover up the ncident by portraying t as an accident caused by PTI workers The ruling party is yet to comment on the eaked conversation

P D M d e c i d e s a g a i n s t c o n t e s t i n g a s

E C P u n v e i l s s c h e d u l e f o r K P b y- p o l l s

PESHAWAR

S ta f f R e p o R t

Pak stan Democratic Movement (PDM) has announced not to participate in the by-elections whi e Return ng Officers (ROs) for by-elections to three vacant seats of the National Assembly from Khyber Pakhtunkhwa on Saturday issued pub ic notices for by-elections In a statement ssued here on Saturday the provinc al spokesman for PDM – the multi-parties al iance – said all a lied po itical parties in the PDM had already decided not to part cipate in the by-elect ons He added that this was a unan mous decision

of the alliance reached after lengthy de iberations among the eadersh p Meanwhi e Returning Offcers (ROs) for by-elect ons to three vacant seats of the Nationa Assembly from Khyber Pakhtunkhwa on Saturday ssued public notices for by-elections

These vacant NA constituenc es include NA-22 (Mardan-III) NA-24 (Charsadda-II) and NA-31 (Peshawar-V) respect ve y The Election Commission of Pakistan (ECP) s holding by-elect ons to these seats for second time The seats were earlier declared vacant n wake of the acceptance of the resignations of PTI legislators A i Mohammad Khan Fazal Mohammad Khan and Shaukat Ali by the Speaker National Assembly In by-elections held on October

Section 144 imposed again as Imran announces rally today

LAHORE

S ta f f R e p o R t

What is be ng described as intentional coincidence” the Punjab caretaker government on Saturday announced impos tion of Sect on 144 in Lahore with immed ate effect hours after the Pakistan Tehreek-e-Insaf (PTI) geared up for holding a public ral y on Sunday (today) as part of its campa gn for upcoming genera elections in the prov nce

Addressing a press conference Caretaker Information Minister Amir Mir said that the government had imposed Section 144 n Lahore w th immed ate effect due to “ serious terror threats ” and beginning of Pakistan Super League (PSL) matches in the provincial capital Imran Khan has announced the rally on a day – when PSL matches wi l start in Lahore and a marathon w ll also be taking p ace the minister elaborated adding that a ban has been imposed on carr ying out pub c ralies in Lahore on Sunday to avert any untoward situation

Amir M r also said the election campaign in the prov nce wil start from April 6 urging PTI Chairman Imran Khan to cooperate w th the Punjab government

He also warned the former premier against violating law saying that strict action w ll be taken if wr t of the state is challenged

Reacting strongly to the Punjab government s decision PTI Senior Vice President Fawad Ch rejected the imposit on of Sect on 144 in

the prov ncial capital saying the party would carr y out t s ra ly as per schedu e Taking to h s twitter handle soon after the caretaker minister ’s press conference Fawad Ch wrote: We reject the Pun ab government s attempts to ban po itical act vities These people have never fought any election in their l ves they have only obtained pos tions through conspirac es We have asked the Election Commiss on to annul the imposit on of 144 by the Punjab government, and our rally w l go on according to the program PTI leader Hammad Azhar a so tweeted and wrote: Now on y a psychologist can treat fears of the regime Imran Khan s ts at home and announces that he wil leave now and all of them become goats He wrote: The rulers have started using Section 144 as an anti-depressant

16 2022 these seats were won by PTI Chairman Imran Khan but he did not retain any of them so al these seats were declared vacant and now another by-e ect on would be held on them

The public notices for holding by-e ect ons on the seats have been ssued under Section 57 and Sect on 102 of the Elections Act 2017 by the Returning Off cers of each vacant Nat onal Assemb y seat Accord ng to the notices aspir ng candidates could file nomination papers w th the Returning Officers from March 12 to March 14 2023 whereas the initial list of the candidates wou d be ssued on March 15 2023 which would be followed by the scrutiny of nomination papers till March 22, 2023

Pakistan welcomes ‘diPlomatic breakthrough’ in saudi-iran ties

s t a t e m e n t o n F r i d a y s a i d : P a k i s t a n f i r m l y b e l i e v e s t h a t t h i s i m p o r t a n t d i p l o m a t i c b r e a k t h r o u g h w i l l c o n t r i b u t e t o p e a c e a n d

s t a b i l i t y i n t h e r e g i o n a n d b e y o n d B o t h S a u d i A r a b i a a n d I r a n o n F r i d a y a g r e e d t o r e s t o r e t i e s a n d r e s u m e t h e i r d i p l o m a t i c m i s s i o n s i n a C h i n e s eb r o k e r e d a n n o u n c e m e n t t h a t c o u l d h a v e w i d e - r a n g i n g i m p l i c a t i o n s a c r o s s t h e M i d d l e E a s t In a trilateral statement issued by China, Iran and Saudi Arabia said they would reopen embassies and missions within two months and implement security and economic cooperation deals signed more than 20 years ago

sixth edition of militar y’s global counter-terrorism competition concludes

The 6th International Pakistan Army Team Spirit (PATS) Competition which lasted for more than two days concluded at the National Counter Terrorism Centre (NCTC) Pabbi town of Nowshera with an impressive closing ceremony According to Hilal magazine of Inter-Services Public Relations (ISPR), the competition is designed to test the participating teams’ ability to operate in a challenging environment through a narrative-based exercise During the competition each patrol is assigned the task of infiltrating a terrorist-infested area completing a specific mission and then exfiltrating safely Seven Pakistan Army teams, Pakistan Navy, and 10 international teams from Bahrain, Saudi Arabia, Morocco, Uzbekistan, Thailand, Jordan, the United States, Iraq, Kazakhstan, and Qatar participated in the competition, while teams from Azerbaijan Canada Gambia Indonesia Myanmar Maldives Senegal Sudan United Arab Emirates (UAE) and Britain participated as observers

The competition which took place in the mountainous and rugged terrain of Pabbi, continued day and night from March 7-9 Over the years, the competition has gained much popularity and has become an international team spirit evaluation event

The Pakistani government commended C h i n a s r o l e i n c o o r d i n a t i n g t h e h i s t o r i c a g r e e m e n t d e e m i n g i t s l e a d e r s h i p visionary for the major feat which reflects t h e p o w e r o f c o n s t r u c t i v e e n g a g e m e n t and meaningful dialogue” “ We l a u d t h e s a g a c i o u s l e a d e r s h i p o f t h e K i n g d o m o f S a u d i A r a b i a a n d t h e I s l a m i c R e p u b l i c o f I r a n f o r t h i s v e r y p o s i t i v e d e v e l o p m e n t ” t h e F o r e i g n O ff i c e s t a t e d Pakistan said it will continue to play a c o n s t r u c t i v e r o l e i n t h e M i d d l e E a s t a n d

t h e r e g i o n f o l l o w i n g i t s h i s t o r y o f c o n s i s t e n t l y s u p p o r t i n g a n d c o o r d i n a t i n g efforts for bridging gaps between the two brotherly countries We h o p e t h i s p o s i t i v e s t e p w o u l d define a template for regional cooperation and harmony,” it further added Riyadh had cut its diplomatic ties after Iranian protesters attacked Saudi diplomatic missions in 2016 following the Saudi execution of revered Iranian cleric Nimr alNimr just one in a series of flashpoints between the two longstanding rivals

Friday s announcement which follows five days of previously unannounced talks in Beijing and several rounds of dialogue in Iraq and Oman, caps a broader realignment and efforts to ease tensions in the region

Following talks, the Islamic Republic of Iran and the Kingdom of Saudi Arabia have agreed to resume diplomatic relations and reopen embassies and missions within two months,” said the joint statement, which was published by both countries’ official media

The detente between the two Muslim nations has the potential to reshape relations across a region characterised by turbulence for decades

Iran and Saudi Arabia support rival sides in several conflict zones including Yemen, where the Huthi rebels are backed by Tehran and Riyadh leads a military coalition supporting the government The two sides also vie for influence in Syria, Lebanon and Iraq

Alvi congratulates X i Jinping on re - elec tion for third term as C hina’s president

ISLAMABAD S ta f f R e p o R t

President Dr Arif Alvi took to Twitter on Saturday to congratulate president Xi Jinping on his unanimous re-election, Ram Chandra Poudel on his election as president of Nepal, and Han Zheng on his new role as deputy president of China Expressing his delight, President Alvi said the strong bond of friendship between

Pakistan and China had grown from strength to strength He added that as China’s closest friend and all-weather partner Pakistan looked forward to working closely with President Jinping to take their relations to new heights Jinping secured a precedentbreaking third term on Friday during a parliamentary session in which he tightened his control of the world s second-largest economy as it emerges

from a coronavirus slump and diplomatic challenges mount

Nearly 3 000 members of China’s parliament the National People s Congress (NPC) voted unanimously in the Great Hall of the People for the 69year-old leader in an election in which there was no other candidate He also congratulated Poudel on his election and expressed his eagerness to work with him for the advancement of

Pakistan’s sur vival lies in holding polls in 90 days: Sh Rashid

RAWALPINDI

S ta f f R e p o R t

Awami Muslim League (AML) Chief Sheikh Rashid Ahmad on Saturday lamented a lack of provision of security for elections in Punjab and KP, recalling Pakistan had been providing security to Qatar and United Nations “Survival of Pakistan lies in the holding of elections in 90 days to gain public wisdom for steering the country out prevailing multifarious

problems ” AML Chief Sheikh Rashid said in a series of tweets on Saturday Talking to the social media platform Sh Rashid warned against any further delay in elections saying delay in polls could spark unrest in the country

The former interior minister said economic social and constitutional crises continued to deepen in the country He said the Supreme Court was the last hope to protect law and its sanctity He claimed the ruling alliance of the Pakistan Democratic Movement (PDM)

Pakistan-Nepal relations

Finally the president extended his congratulations to Han Zheng on assuming the office of vice president of China commending his many salutary contributions to the unique interstate friendship between Islamabad and Beijing President Alvi expressed his confidence that their time-tested AllWeather Strategic Cooperative Partnership would continue to thrive for years to come

had fallen apart with every ally receiving its share from the government He said Fazlur Rehman s JUI-F had secured ministries of religious affairs and communication while the interim government of KP was given to the relative of Mr Rehman He said the power tariff would further go up till the decision of the International Monetary Fund (IMF) on revival of the loan programme He also expressed concern over not registration of a case despite issuance of postmortem report of PTI worker Ali Bilal The AML chief welcomed the re-election of Xi Jinping as China s president for the third time and restoration of diplomatic ties between Saudi Arabia and Iran

JI demands general elec tion to aver t

‘complete chaos ’ in countr y

QUETTA

S ta f f R e p o R t

Jamaat-e-Islami (JI) Pakistan Ameer Sirajul Haq said Saturday demand general election in the country and urged all the stakeholders to sit together for devising a strategy for holding general elections to save the country descending into complete chaos

Addressing a press conference at Quetta Press Club Haq said that one Sardar of Balochistan who was allegedly accused of killing three persons, was released on bail, but Maulana Hudayatur Rehman, leader of Haq

Du Tehreek Balochistan had been kept behind the bar on false and frivolous charges

He said that one week ultimatum had been given to the authorities for release of Maulana Hidayatur Rehman, adding that if he was not released, Jamaat-eIslami would be at the liberty of devising its own future course of action “Here faces are changed rather than system therefore JI has been struggling to change the system JI will change the economic system of the country root out interest system end non-development expenditures and protocols said he adding that only corruption free party could end corruption

Systemic changes, not mar tial law or politic al leader, c an lif t Pakistan: Mif tah

KARACHI S ta f f R e p o R t

Former finance minister Miftah Ismail has stated that no political leader or martial law can improve the system in Pakistan until “we make systemic changes ”

The Pakistan Muslim League-Nawaz leader in an exclusive interview with a private TV channel highlighted the problems faced by Pakistanis identified where these problems lied and suggested some possible solutions to manage the situation He believed that whether Pakistanis had Pakistan Tehreek-e-Insaaf (PTI)

Chairman Imran Khan, his party supremo Nawaz Sharif, Pakistan People s Party (PPP) Co-Chairman Asif Ali Zardari or martial law, nothing will improve the system until “we make systemic changes” Miftah, who served as the finance minister under the current coalition

government for just over five months has been quite vocal about certain party decisions and especially the policies of the incumbent Finance Minister Ishaq Dar Since the former finance czar was fired in September as the top leadership of PML-N wanted to bring Dar, Miftah has not been a part of the government’s economic team and spearheading the “Reimagining Pakistan” campaign along with other political leaders in an effort to develop a consensus on the strategy to steer the country out of crises “We still have half of our school-going children out of schools which means they will grow up to be not literate and if half your population is not literate then I don t really care who the finance minister is as this country s economy will not do well he said lamenting the conditions of the people in Pakistan who are reeling with the impact of the record-breaking inflation – which he termed as the worst challenge for the country

Nine -year- old differently-abled child raped, murdered in K arachi

KARACHI S ta f f R e p o R t

A nine-year old special needs child was found raped and murdered in Karachi’s Korangi area on Saturday following which police detained two people for investigation according to police and hospital officials Zaman Town police said the body of the child was recovered from the rear seat of a parked Suzuki Cultus car The body was bluish and foaming from mouth

The corpse was shifted to Jinnah Postgraduate Medical Centre to ascertain the cause of death Police surgeon Dr Summaiya Syed said that the victim was differently-abled child with a right hand deformity “There were multiple injuries all over the body and

findings are suggestive of anal sexual abuse said the surgeon The lips were deeply congested and oral swabs have also been collected There was a reddish froth on nasal openings The cause of death and final opinion regarding sexual assault is kept reserved till reports of chemical analysis, semen serology and DNA,” said Dr Syed Korangi-SSP, Sajid Amir Sadozai told media that in their preliminary findings the doctors confirmed murder after rape but they were waiting for the final report The senior officer said that the boy’s body was recovered from the rear seat of the car at a car park Zaman Town police have collected evidence he added The Cultus car has also been impounded for investigation SSP Sadozai said that the car s owner and watchman of the parking stand have been taken into custody for investigation

Filing of nomination papers for Punjab A ssembly elec tion begins

ksa-iran resumPtion oF diPlomatic ties to augur well For Peace, stabilit y: Pm

ISLAMABAD S ta f f R e p o R t

PR I M E M i n i s t e r S h e h b a z S h a r i f o n S a t u r d a y w e l c o m e d t h e signing of the historic agreement b e t w e e n t h e K i n g d o m o f S a u d i

A r a b i a a n d I r a n f o r t h e resumption of diplomatic ties

On his Twitter handle the prime minister said This China-mediated deal augurs well for peace stability & economic development in ME & Muslim world

He further observed that it showed that with collective wisdom win-win outcomes

were possible

Earlier on Friday the foreign office spokesperson in a press statement said that Pakistan firmly believed that this important diplomatic breakthrough would contribute to peace and stability in the region and beyond Pakistan commended the role played by China s visionary leadership in coordinating this historic agreement which reflects the power of constructive engagement and meaningful dialogue

“We laud sagacious leadership of the Kingdom of Saudi Arabia and the Islamic Republic of Iran for this very positive development it was added

Punjab elections: Pti expresses concern over non-provision of nomination papers

LAHORE S ta f f R e p o R t

Pakistan Tehreek-i-Insaf (PTI) leader Azam Swati has expressed concerns over non-provision of nomination papers to party candidates ahead of general elections in Punjab PTI leader Azam Swati penned down a letter to the Election commission of Pakistan (ECP) chief expressing his concerns over non-provision of nomination papers to PTI candidates PTI candidates have contacted concerned ROs [Returning officers] but the nomination papers are not being provided yet Azam Swati said He further said that the move was a deviation from the clear and transparent elections as well as an open violation of the law He urged the ECP chief to take notice of the situation and direct ROs to provide the nomination papers to the PTI candidates

gov t to resolve industrialists’ issues on priorit y basis: sajid turi

PESHAWAR S ta f f R e p o R t

Federal Minister for Overseas Pakistani and Human Resource Development Sajid Hussain Turi assured businessmen to resolve their issues on a fast-track basis saying that the government is taking all possible steps for industrialisation and provision of all facilities to the business community The federal minister strongly opposed the industries-hostile actions and initiatives by the government concerned departments He viewed all those actions on various pretext completely intolerable which are causing deindustrialisation in the province Sajid Turi was speaking to businessmen on invitation of Industrialists Association Peshawar (IAP) president Malik Imran Ishaq here at industrialist estate Hayatabad Apart from the former Governor Khyber

Pakhtunkhwa Engineer Shuakat Khan, the provincial caretaker Minister Fazal Elahi Group Leader and former President FPCCI Ghazanfar Bilor Senior Vice President of Industrialists Association Peshawar Ayub

Zukuri Vice President IAP Ghulam Mohiyuddin

Executive Members, President of Sarhad Chamber of Commerce and Industry Muhammad Ishaq, Former presidents IAP Malik Niaz Ahmed, Zarak Khan, Secretary General, members of the association and industrialists in a large number were present on the occasion The IAP president Malik Imran Ishaq in the meeting apprised the federal minister regarding issues of manufacturers who set up their units in Industrial Estate Hayatabad Peshawar

Pakistan sends over 8,000 winterised tents to turkey

KARACHI

a n a d o l u ag e n c y

Pakistan has dispatched another shipment of over 1,200 tons of relief goods for people affected by twin earthquakes in Turkey and Syria, an official said The consignment, which has been sailed off by a civil ship from Karachi, includes 8,200 winterised tents for Turkey s quake victims, said a spokesman for the National Disaster Management Authority (NDMA), the nation s disaster management authority (The) NDMA sailed off 65 Containers with 1,221 tons of load through Civil Ship for quake-hit Turkey and Syria on behalf of People of Pakistan, the spokesman said in a statement Out of the 65 containers, 41 are carrying 8,200 winterized tents for Turkey and 24 containers carrying 15,000 ration bags, he added The ship will drop off the aid containers to Turkey on March 23 and Syria by the end of the month Pakistan, he said, is spearheading massive relief operations for the earthquake victims of the two brotherly countries by utilizing all available modes of transportation, including air, sea, and road Pakistan will also launch a special chartered cargo flights operation soon to transport relief goods to Turkey for the earthquake victims, he said, adding that assistance is also being sent using belly space of PIA on regular flights to Turkey Apart from the fresh shipment of relief supplies, Pakistan has already sent nearly 9,000 winterized tents and over 60,000 blankets to Turkey through state-run Pakistan International Airlines and road routes

On February 28, a Pakistan Navy ship carrying 1,000 tons of relief goods for the earthquake victims departed for Turkey Moreover, Pakistani charities, including Al-Khidmat Foundation, Edhi Foundation, Baitussalam Welfare Trust, Sailani Welfare Trust, and Pakistan Red Crescent, have also been engaged in relief and rescue efforts in the earthquake-hit regions of Turkey and Syria More than 45,000 people died in Turkey in the magnitude 7 7 and 7 6 earthquakes on February

6 The earthquakes, which were centered in the province of Kahramanmaras, affected more than 13 million people across 11 provinces, including Hatay, Adana, Gaziantep, Diyarbakir, Adiyaman, Malatya, Kilis, Osmaniye, Elazig, and Sanliurfa

With a history of consistently supporting and coordinating efforts for bridging gaps between the two brotherly countries the spokesperson said Pakistan will continue to play a constructive role in the Middle East and the region We hope this positive step would define a template for regional cooperation and harmony

M i n i s t e r p r e s e n t s d o n at i o n c h e q u e t o p M f o r q u a k e - h i t t u r k i y e, s y r i a: Minister for Federal Education and Professional Training Rana Tanveer Hussain on Saturday presented a donation cheque contributed by the federal educational institutions for the earthquake

hit people of Turkiye and Syria to Prime Minister Muhammad Shehbaz Sharif

During a call on the prime minister observed that the federal government was improving the educational standards in collaboration with the provincial governments, PM Office Media Wing said in a press release During the

Two killed in IED attack on son of Yar Mohammad Rind

QUETTA S ta f f R e p o R t

Two persons were killed and one injured after convoy of Mir Sardar Khan Rind son of MPA Sardar Yar Mohammad Rind was targeted by an IED blast near Nushman area of Bolan in district Kachhi of Balochistan province on Saturday According to Fahad Shah Rashidi Assistant

Dhadar the vehicle of the bodyguards included in the convoy of Mir Sardar Khan Rind struck an Improvised Explosive Device (IED) near Nushman area of Bolan in district Kachhi, resultantly, two body guards of Mir Sardar Khan Rind namely Muhammad Umer Rind, son of Muhammad Siddique Rind, resident of Suran and Muhammad Hassan son of Bangul Khan Jatoe resident of Suran were killed while another bodyguard Muhammad Ramzan

Security measures in place for Urs celebration of Lal Shahbaz Qalandar

The administration has taken steps to ensure the safety and security of devotees on the occasion of the three-day 771st Urs of 13th-century saint Lal Shahbaz Qalandar in Sehwan Sharif

With its ancient hypnotic rituals, Sufism is a mystical form of Islam that has been practised in Pakistan for centuries

The shrine is one of Pakistan s most revered holy sites and attracts up to a million visitors each year It is perhaps best known for men and women practicing the ancient form of Sufi dance called the dhamaal Men and women beating drums waving their

Fia clears six names in hascol scam

CONTINUED fROM BACK PAgE

arms and swirling together as they practice the dhamaal are a common Thursday night spectacle at the Lal Qalandar shrine Devotees from various parts of the country have arrived many on foot and are staying in tents and motels Several parts of the town close to the shrine have been declared a red zone, with 4,720 police officials performing security duties and officials in plainclothes also deployed to monitor the situation

The shrine and town will be monitored round the clock with the help of 400 CCTV cameras, and 30 walkthrough gates have been installed at various entry and exit routes Additionally 12 medical camps have been set up at different places in the town to provide medical assistance to devotees

Undeterred, the FIA Karachi, under the instruction of FIA Headquarter Islamabad, decided to reinvestigate the case based on the available facts and the allegations mentioned in the final challan FIA sent a detailed questionnaire to Hascol asking for documentary evidence to support their claims Hascol responded that Sir James Cartel, Alan Duncan Abdul Aziz Khalid and Arshad Mahmood are independent and non-executive directors of the company and as such are protected under section 181 of the Companies Act 2017 Similarly, no approval or role of CEO Aqeel Ahmed could be proved as none of the fake Purchase Orders (POs) used for LCs had his signature or approvals

i

i c a l s t a b i l i t y, c o n t i n u i t y o f p o l i c i e s v i t a l fo r c o u n t r y ’s p ro g re s s : A h s a n Iq b a l

LAHORE S ta f f R e p o R t

Federal Minister for Planning Development and Special Initiatives Ahsan Iqbal has said that political stability and continuity of policies are vital for ensuring country s progress

He said this while addressing the Econ Fest on ‘How to turnaround Pakistan’ at Alhamra on Saturday He said that in current circumstances of the country there was no single leader, party or institution which could alone steer the country out of existing challenges adding that if we wanted to move forward there was a need to learn the science of collaboration Country needed unified solutions for its problems he added He said that when he was studying in engineering university he got a chance and was

elected as president of students union and through this experience he had learnt that public leadership could play significant role in bringing social change He said public service requires a passion and conviction and is a great virtue He said that Pakistan could turn all dreams of youngsters into reality but it took someone with dedication determination and hard work

Ahsan Iqbal said that political stability and social harmony were essential elements for ensuring progress and prosperity If there was a conflict in society then no policy could yield positive results, he maintained He said, “If we look back at country’s history our policies always remained progressive ” He said that Japan, South Korea, Malaysia Thailand Singapore China Bangladesh Vietnam and Turkey were countries which had made speedy progress during last 50 years

Upon reinvestigation it was discovered that Saeed Ahmed former Chairman Credit Committee of NBP, had no prior connection with any office holders, directors, or staff of Hascol before or after leaving NBP Although he was instrumental in giving loans to Hascol they were given with the condition that it would be used for the intended purpose There was no evidence of any suspicious transaction or illegal gratification on his part

Likewise Usman Shahid former Group Chief CMG and Credit Control of NBP while present in the loan approving credit committee meeting did not sign the credit proposal He had duly raised critical issues of deteriorating financial position of Hascol but his recommendations were thrown out of the window There was no evidence of any suspicious transaction or illegal gratification on his part either Consequently, names of these six alleged scammers were cleared L o o k i n g f o rwa r d

Hascol has proposed a comprehensive restructuring plan to all banks including NBP The plan has been filed with the High Court of Sindh as a creditors scheme of arrangement NBP has expressed support for the debt restructuring and issued a term sheet for the same Hascol is hopeful that it will achieve a successful restructuring in the coming months

Po l

t

Strong Rule of Law in Pakistan: The Key to fixing people's lives

he meeting where the Inter-Services Intelligence, the Intelligence Bureau and the Counter-terrorism Departments of the Punjab and KP unburdened themselves with the Election Commission of Pakistan ended with all of them recommending that the polls to the dissolved provincial assemblies should go forward to October, even though the Punjab is supposed to hold polls on April 30, while the KP Governor has still to appoint a date All agencies agreed that there was too high a terrorist threat for polls to be held Be that as it may, the ECP has to hold elections, but there was no sign of any indication that the ECP asked for suggestions on how elections are to be held under this threat there was also no timeline given the October date seems pulled out of a hat and there was no indication of what would happen by then after which elections would be possible

It was also ironic that the ISI was pointing to the terrorist threat even though under its previous DG it is said that Yehrik taliban Pakistan terrorists were encouraged to move from Afghanistan and settle in KP the ISI is being viewed by political leaders with suspicion as it is considered the organization through which political interference has been carried out in the past Cynics might well say that it wants a postponement so that it can overcome the crimp in its style caused by claims of non-interference and go back to what it might see as the good old days

there are overwhelming political reasons for the present coalition not to opt for elections on time but that is the way the Constitution is built the foundation of everything is elections taking place on time that does not just mean every five years though that renewal of the mandate is essential It also means that if there is a premature dissolution always a possibility in a parliamentary system, there must be elections held swiftly Even caretaker governments are not a substitute for elections; even though unelected themselves, their primary task is the holding of elections there is an increasing suspicion that such apparently positive actions as issuing an election schedule and giving a date, reflect the Election Commission of Pakistan s desire to comply with the letter of the Supreme Court s decision mandating the polls, while not obeying it in its spirit

PA K I S tA N has battled with numerous challenges including political instability economic crises and social inequalities A culture of injustice and impunity has been fostered by the weak rule of law, which has made these issues worse to improve people's lives in Pakistan and build a more just, prosperous, and stable society; a strong rule of law is necessary

Everyone is held accountable for their actions and is subject to the same laws regardless of their social status or political affiliation thanks to the fundamental principle of the rule of law It ensures that everyone has access to the legal system and can pursue redress for their grievances It also provides a framework for fairness justice and equality

However due to political meddling corruption and a subpar legal system Pakistan s rule of law has frequently been undermined As a result there is now a culture of impunity in which those in positions of authority can act without consequence and ordeinary people have few legal options

P u b l i c t r u s t i n t h e g o v e r n m e n t a n d t h e l e g a l system has declined, which is one of the main effects of this absence of the rule of law People are l e s s l i k e l y t o r e s p e c t t h e l a w a n d m o r e l i k e l y t o commit crimes themselves when they believe the system is biased against them this in turn feeds a v i c i o u s c y c l e o f c r i m e c o r r u p t i o n a n d v i o l e n c e that is challenging to end

For a variety of reasons laws in Pakistan are not effectively enforced Corruption which has an impact on how the justice system operates and threatens the rule of law is one of the main causes Many people with money and influence can escape the law, while those without access to these resources suffer disproportionately the lack of resources and weak institutions also make it more difficult to enforce the law In Pakistan, ineffective law enforcement is also a result of political meddling in the judiciary, judicial backlogs, and a lack of public confidence in the police

In a system where laws are not being effectively enforced there is a sense of impunity and a lack of

accountability for those who break the law because of the interaction of all these factors

A solid legal system is necessary in Pakistan to improve people's lives this entails creating a fair and consistent application of the law a transparent and accountable legal system and an independent judiciary

Maintaining the rule of law requires an independent judiciary because it serves as a safeguard against abuses of power by the executive and legislative branches It makes sure that everyone is subject to the same laws and held responsible for their actions, regardless of their status or position Judges must be appointed on the basis of merit and integrity rather than political affiliation in order to accomplish this and they must also be free from political interference

For the rule of law to be upheld, a fair and accountable legal system must be established this entails making sure that laws are written in a way that is clear and understandable and that they are applied fairly and consistently In order for people to seek redress for their grievances in a timely and cost-effective manner it also entails developing an effective and accessible legal system

In addition to these actions, it is crucial to guarantee that the law is applied equally and consistently this means that everyone is held accountable for their actions regardless of their position or status and that justice is not only rendered in appearance but also in reality this is only possible if there are penalties for breaking the law and if the legal system is accommodating to the needs of ordinary people

I m p rov i n g p e o p l e ' s l i v e s i n Pa k i s t a n r e q u i r e s a s t ro n g l e g a l s y s t e m . I t e n s u r e s t h a t e v e r yo n e h a s a c c e s s t o t h e l e g a l s y s t e m a n d c a n p u r s u e r e d r e s s fo r t h e i r g r i e va n c e s . I t a l s o p rov i d e s a f r a m e wo r k fo r f a i r n e s s , j u s t i c e , a n d e q u a l i t y. A d d i t i o n a l l y, i t e n s u r e s t h a t Pa k i s t a n c a n d e v e l o p a m o r e e q u i t a b l e , p ro s p e ro u s , a n d s t a b l e s o c i e t y fo r i t s c i t i z e n s a n d fo s t e r s a n e nv i ro n m e n t t h a t i s c o n d u c i v e t o e c o n o m i c g ro w t h a n d d e v e l o p m e n t . I t i s t i m e fo r Pa k i s t a n t o t a k e t h e r e q u i r e d a c t i o n s t o bu i l d u p a s t ro n g l e g a l s y s t e m a n d m a k e s u r e t h a t e v e r yo n e i s h e l d l i a b l e fo r t h e i r a c t i o n s .

In Pakistan, a strong rule of law is not only necessary for improving people s lives, but it is also a requirement for economic expansion and development

Mastermind of the fake encounter in occupied Kashmir convicted

At long last, the Indian army Captain Bhupinder Singh was sentenced to life imprisonment for having staged a fake encounter in Jammu and Kashmir s Shopian district (on 18 July 2020) to earn cash reward (Indian Rs 20 lac) and out-of-turn promotion Conviction of Indian army personnel in occupied Kashmir is well-nigh impossible as they are immune from civil criminal proceedings owing to immunity under the Armed Forces Special Powers Act Badgered by persistent complaints, India s Supreme Court had to define contours of fair application of the draconian AFSPA to pursue justice, the bereaved families have to run pillar to post Convictions are a rare phenomenon Most Kashmiris try to avoid ventilating their grief for fear of brutal reaction from the Indian military

In July 2020 three labourers were killed at Amshipora in Shopian district Army officers had claimed they (Imtiyaz Ahmed Abrar Ahmed and Mohammed Ibrar) were Pakistani terrorists and with their killing the terror threat was eliminated in the district Initially the Indian Army tried to hush up the case But, the locals insisted that the three young men killed were cousins from Rajouri district working as labourers Captain Bupinder Singh “hired” them from their homes and later shot them in a staged encounter the Army was compelled to hold an inquiry owing to unabated protests by locals and the bereaved families A court of inquiry instituted by the Army found that the troops had exceeded powers vested in them under Armed Forces Special Power Act (AFSPA) and acted in contravention to the rules approved by the Supreme Court the Army also claimed recovery of a huge cache of arms from the encounter site the Jammu and Kashmir Police disassociated itself from the incident In their parallel investigation, the Jammu and Kashmir Police confirmed the cold-blooded killing, by hatching a conspiracy, kidnapping and killing three cousins from Rajouri and passing them off as hardcore Pakistani terrorists

the inquiry ordered by the Indian Army into Operation Amshipora brought out that during the operation, powers vested under the AFSPA 1990 were exceeded the All Parties Hurriyat Conference and others consider Captain Bupinder Singh’s conviction an eyewash they allege that senior military officers including Brigadier Ajay with whose connivance the fake encounter was staged have not even been tried the Hurriyat Conference has demanded stern action against the former Indian Army s Rashtriya Rifles sector commander Brigadier Ajay Katoch and all other Indian Army officers and men involved in the killing of innocent Kashmiri youth in staged encounters Be it noted that immediately after the martyrdom of the youth, Brigadier Katoch had addressed a press conference in Srinagar He claimed that the youth were killed in an encounter and arms and ammunition were recovered from their possession It is eerie that, in January 2021, Brigadier Ajay Katoch was awarded with the Yudh Seva Medal “in recognition of his meritorious services against Kashmiri militants” the three victims were later discreetly buried in a graveyard in north Kashmir Several Indian and international human-rights organizations have documented the mysterious disappearance of the Kashmiri people It was found that Kashmiris killed in fake encounters, or in custody, are buried in nameless graves the right organizations include Amnesty International, Human Rights Watch, besides the National Human Rights Commission of India (NHRC) the last-mentioned body is sponsored and funded by the Indian government itself under India’s Protection of Human Rights Act 1993

I n d i a cl a i m s t o b e t h e wo r l d ’s l a rg e s t d e m o c r a cy H ow ev e r, i t s s h i ny ’ f a c e h a s b e e n s c a r r e d by a t ro c i t i e s c o m m i t t e d by i t s A r my a n d s e c u r i t y fo rc e s i n o c c u p i e d K a s h m i r ( a n d I n d i a ’s N o r t h E a s t ) T h e “ S O S f ro m I n d i a n O c c u p i e d K a s h m i r ” , p u bl i s h e d by H u r r i ya t C o n fe r e n c e , c o m p i l e s d a t a a b o u t I n d i a n a t ro c i t i e s o n t h e b a s i s o f w e l l - i nv e s t i g a t e d r e p o r t s

Articles 32 and 33 of the Act make provisions for central and state governments grants to the commission However the Commission is debarred from inquiring into brutal acts of the armed forces Notwithstanding jurisdictional fetters to its feet the Commission has been very active in chasing violations of human rights not only by saffronized civilians but also by Army and security forces the European Parliament has passed an “urgency resolution on mass graves in Kashmir”

that strongly condemns, inter alia, the enforced disappearance and unlawful killing of Kashmiris Kashmiris from all walks of life have been demanding the establishment of an international commission to look into fake encounters, disappearances’ and mass graves So far, the UNO has not fulfilled their demand However two non-governmental organizations the International Human Rights Association of American Minorities and the International Council for Human Rights have held a convention on disappearances and unmarked and mass graves in the context of international law the conference convention was held at the UN Palais des Nations in Geneva (Switzerland) the purpose of the convention was to draw the attention of the world to the plight of the bereaved families Renowned academics scholars international lawyers representatives of civil society members of the police as well as forensic archaeologists and forensic anthropologists, participated in the convention India claims to be the world’s largest democracy However its shiny’ face has been scarred by atrocities committed by its Army and security forces in occupied Kashmir (and India s North East) the SOS from Indian Occupied Kashmir published by Hurriyat Conference, compiles data about Indian atrocities on the basis of well-investigated reports India is currently hobnobbing with the USA in the QUAD to contain China It is sure that, in the unipolar world, the world community will not turn its attention to its gory tactics for repressing Kashmiris Efforts by human-rights organizations to wake up the UN conscience have not been fruitful Unfortunately the Indian media also toes the government s line For instance Hindustan times (May 6 2021) reported three terrorists were killed after an encounter broke out between security forces and terrorists in Shopian district of Jammu and Kashmir on May 5 Killing Innocent civilians, after dubbing them Pakistani militants , is a known phenomenon in Indian-held Kashmir the people killed incommunicado in Army custody are secretly buried in remote villages of Kashmir

Due to the level playing field it creates for all market participants, a transparent and accountable legal system fosters an environment that is conducive to investment and business Additionally, it makes sure that agreements are upheld and that property rights and intellectual property are protected the Constitution of Pakistan is the supreme law of the land and it contains several provisions related to upholding the rule of law in the country these provisions ensure that everyone is subject to the same laws and held accountable for their actions, and that the fundamental rights of citizens are protected It is the responsibility of the state to ensure that these provisions are implemented effectively and that the rule of law is upheld in practice I m p r o v i n g p e o p l e s l i v e s i n P a k i s t a n r eq u i r e s a s t r o n g l e g a l s y s t e m I t e n s u r e s t h a t e v e r y o n e h a s a c c e s s t o t h e l e g a l s y s t e m a n d c a n p u r s u e r e d r e s s f o r t h e i r g r i e v a n c e s I t a l s o p r o v i d e s a f r a m e w o r k f o r f a i r n e s s j u s t i c e a n d e q u a l i t y A d d i t i o na l l y i t e n s u r e s t h a t P a k i s t a n c a n d e v e l o p a m o r e e q u i t a b l e p r o sp e r o u s a n d s t a b l e s o c ie t y f o r i t s c i t i z e n s a n d f o s t e r s a n e n v i r o n m e n t t h a t i s c o n d u c i v e t o e c o n o m i c g r o w t h a n d d e v e l o p m e n t I t i s t i m e f o r P a k i s t a n t o t a k e t h e r e q u i r e d a c t i o n s t o b u i l d u p a s t r o n g l e g a l s y s t e m a n d m a k e s u r e t h a t e v e r y o n e i s h e l d l i a b l e f o r t h e i r a c t i o n s the writer is an Advocate of the High Courts of Pakistan He holds an L L B from the University of London and a B B A from Heriot-Watt University He can be reached at advocatehc adam@gmail com and on Instagram com/advocate adam

E d i t o r ’ s m a i l

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

Let justice prevail

this refers to the editorial Seditious utterances (Feb 15) which has expressed concerns over indiscriminate use of sedition charges by the government against its opponents, arguing that the utterances by a former finance minister, if proved true, were inappropriate but not seditious

It is true that persecuting political rivals has a long and pathetic history in Pakistan, and this is one of the reasons for political instability this is an unending game of revenge and counter-revenge that should stop

However there must be exceptions and we must differentiate between political victimisation and the crimes committed against the people the main opposition party which was ousted through legal and parliamentary vote of confidence has since indulged in a maligning campaign this problem has grown to such an extent that it has pushed the country towards a destructive path of instability international isolation and economic and political crises

the United States was accused of regime change without any proof and it has now been given a clean chit by the same accusers Our timetested friends, including the likes of China and Saudi Arabia, have their own reasons to express displeasure the former finance minister was, to my ears, subversive in his approach during the conversation in question, which, by the way, he has never actually denied

When a former minister speaks, his words are taken seriously and he not only presented Pakistani economy in fragile condition but went on to advise two provincial governments to withhold surplus funds to sabotage the International Monetary Fund (IMF) programme the millions of people who are today finding it hard to put two or even one square meal on the table for their families are facing the circumstances partly because of such utterances there is no doubt that successive governments have had their fair share in bringing the economy to the current critical stage but none has been more destabilising than the current oposition If such tendencies are allowed to prosper, everyone and anyone would spread toxicity and suffocate the state which is passing through a critical phase It is in the national interest to let justice prevail GULSHER PANHWER JOHI

Indigenous resources

Pakistan faces serious economic challenges nowadays Data from the State Bank of Pakistan (SBP) shows foreign exchange reserves having plunged to abysmally low levels the government is restricting imports to control the outflow, which is only exacerbating the matter as more than 70 per cent of the import relates to energy and raw material; two areas that are essential to keep the economy running

We can get out of the chronic balance of payment crisis by exploiting local resources Pakistan has massive coal reserves in thar We can and should use coal to generate electricity rather than depending on expensive regasified liquefied natural gas (RLNG) and furnace oil this will significantly save the foreign reserves and also ensure energy security by reducing dependence on imported fuel

Moreover Pakistan has accumulated circular debt of about $2 5 trillion by using expensive fuel for electricity generation thar coal will diversify the energy mix and help us reduce overall electricity cost According to the National transmission and Despatch Company (NtDC), power production cost based on thar coal is only 3 39 per unit, which is almost 10 times less than the average electricity production cost therefore, instead of trying to quickly build the reserves by borrowing from global multilateral institutions and friendly countries, our policymakers ought to fix the real bottlenecks that are preventing us from attaining sustainable and long-term development

i v i l i a n H o m e R u l e

L i t t l e m o re t h a n p re - I n d e p e n d e n c e m e a n i n g s

were allowed independence in local affairs with almost no say in the international and defence domain

IN D I C At E D earlier (last month) in these very columns was the initiation of the Pakistan-USA Security Dialogue with the participation of all three services, in the USA In the follow-up of that, meetings between civilian stakeholders too have taken place In the statements coming out of the dialogue in Islamabad, it seems now clear that the points of reference between the US administration and the Pakistani state remain the fall-out of the most recent engagement; the post-9/11 one these developments are further indicated by how the top military brass is consoling the business community about the expected economic recovery In the reported meeting of the COAS with business leaders and repeated stories of optimism displayed by the top points towards complete command It means that the global security order best personified in the form of Pentagon and NAtO the established order in Pakistan has been recognized as the resource persons to deal with as was evident in the February dialogue between the three services and their counterparts in the US military to back that up, an unprecedented crackdown against dissident political trends like the PtI, with scant regard to the human rights aspect, clearly points out that with the US-led security setup at the back; the domestic security systems following the footsteps of defunct SAVAK of Muhammad Raza Pahlavi feel emboldened the brutal killing of an autistic political activist seems to have turned into a baggage for the current dispensation; with the contradiction that it feels emboldened like yesteryear s pro-US system led by General Zia ul Haque

In the backdrop of these developments what is the role of the civilian heads of states heads of the government etc; whosoever is able to take the reins of power after much awaited 2023-2024 polls? A policymaker role, which the late ZAB tried unsuccessfully between 1971 and 1977 Alternatively, the one, which was practiced by the Congress and Muslim League ministries during the Home Rule option allowed by the British before 1947? It was a scenario where Congress and AIML

For the political parties committed to play by the book during that era it meant either supporting the British war effort or looking the other way in a noncommittal manner and not opposing it While in the case of the succeeding states of Pakistan and India Indians tried successfully to remain non-aligned Keeping a distance and a working relationship with major powers like the USA the then USSR and emerging European powers Pakistan regretfully fell like a ripe apple in the lap of the US-led security order A fall, which still haunts that nation state to date

Consequently, the first decade of chaotic civilian rule in newly independent Pakistan was punctuated with the usual making and breaking of coalitions, while the country's security imperatives were allowed to slide into the Pentagon’s sphere In 1954, much before the coup by Ayub Khan in 1958 Pakistan was made part of the Baghdad Pact the forerunner of CENtO with duties similar to what it was to perform in later defence cooperation pacts that earlier integration was indicative of the fact that the international security establishment was cozier with the regimented and less likely to talk with the civilians

In fact the only time the USA expressed its desire to have the participation of the civilian counterpart was the Kerry-Lugar Bill , which recognized the then civilian government led by the PPP as the sovereign countersignatory the bill was unusual even from the point that it called for more civilian integration between the governments of the USA and Pakistan, while keeping the military sphere subject to certain checks and balances

It also made an unusual commitment to ‘democratic rule in Pakistan’ besides parliamentary say in issues of national security

Coming back to the discourse ZAB despite the fact that he led a radical grouping of left-leaning activists formulated in the form of the PPP could not struggle to get Pakistan out of CENtO or SEAtO when he finally led Pakistan as head of the state and head of the government between 1971 1977 What he was able to do was to diversify Pakistan engagements; specifically during the 1973 Arab-Israeli conflict the next civilian Prime Minister to be shown the

door for asking too much was the late Mohammad Khan Junejo; who tried to assert his authority over the controversial Ojhri Camp blast in 1988 Apologists of the late dictator Zia still criticize the former PM for what they call forcing a civilian solution on the Afghan Jihad; admonishing him for what they called surrendering Mujahedeen gains in the Geneva talks’ At the core was neither the interests of the Afghans or combatants, it was just the case of a ‘no ball’, a proverbial crossing of the crease by Junejo

Regretfully the USA despite its commitment to democratic ideals forced the PPP led by the late Benazir Bhutto in 1988 to negotiate power sharing with the legacy leadership left out after the illfated C-130 crash the new democratic government was the first instance of ‘home rule’ where the national-level party was supposed to touch a few domains and leave the others in the arms of the armed forces In that context the Nawaz Sharif-led PML was more realistic It took upon itself infrastructure investment in the form of motorways within the city transport facilitation initiatives and catering to its core vote bank; the trading community; through a few cosmetic reforms, a few incentives in the Finance Bill part of the federal and provincial budget documents However its central leadership’s bid to control all aspects led it to run into conflict with the established order One presidential dismissal under Article 58(2b) and one coup was indicative of when cr)ossing the red lines was not tolerated the two experiences f the mainstream parties PPP and PML(N with the powers to be in the aftermath of Musharraf too have been the similar story there has been virtually no bar on home rule initiatives, benign

Four contenders v ying to become Lebanon's next president

legislation and a few social assistance programmes

Any other initiative has been opposed by the established

order One exception has been the Osama raid where the establishment was caught compromised

I t w i l l b e n a ï v e o n t h e p a r t o f p o l i t i c i a n s o n e i t h e r s i d e o f t h e p o l i t i c a l d i v i d e t o cl a i m t h a t a n ew Pa k i s t a n w i l l d aw n o u t o f t h e mu ch - aw a i t e d g e n e r a l e l e c t i o n s W i t h ev e r y p a r t y r e fe r r i n g t o t h e ‘ s o u rc e ’ o f ‘ r e a l p ow e r ’ i n o n e - w ay o r a n o t h e r ; i t i s p u r e p o l i t i c s a t wo r k p e r m i t t e d u n d e r t h e p rov e r b i a l S O P s o f t h e ‘ h o m e r u l e ’ F o r t h e P T I , i t i s a l i fe t i m e d i l e m m a a s w e l l a s t h e o p p o r t u n i t y t o t r a n s fo r m i t s e l f i n t o a t r u e r evo l u t i o n a r y va n g u a rd o r r e m a i n j u s t a ny o t h e r p o l i t i c a l p a r t y, o n ly i n t e r e s t e d i n c u r r y i n g f avo u r w i t h t h e p ow e rs t h a t b e T i m e w i l l t e l l a n d t h e g e nu i n e w i l l o f i t s l e a d e rs h i p w i l l b e t h e d e c i d i n g f a c t o rs a

At that time the DGMO took pains to explain the circumstances of the US raid the other exception was Pakistan's decision not to be part of the Saudi coalition in the Yemen war At that time, the supremacy of Parliament was made use of by the civilians to upstage the military In that context a relatively new entrant in the corridors of power the PtI understandably choose to tread the safe line; like propoor initiatives PM complaint portals and such like It even supported marginalization of the specific groups under suspicion of links with undesirable neighbouring countries to appease the real power centres, until the Ukraine War Despite denials from both sides as to what transpired for a staunchly pro-US nation state like Pakistan it was an unbelievable thing to do Seen in the backdrop of these ground realities it will be naïve on the part of politicians on either side of the political divide to claim that a new Pakistan will dawn out of the much-awaited general elections With every party referring to the ‘source’ of ‘real power ’ in one-way or another; it is pure politics at work permitted under the proverbial SOPs of the ‘home rule For the PtI it is a lifetime dilemma as well as the opportunity to transform itself into a true revolutionary vanguard or remain just any other political party only interested in currying favour with the powers that be time will tell and the genuine will of its leadership will be the deciding factors

The writer is a freelance columnist

of looting not dual citizenship

LE B A N E S E President Michel

Aoun left office last October, finishing a six-year term that saw a deepening political divide and a worsening economic crisis Since Aoun's departure, the Lebanese parliament has convened and failed more than 10 times to elect a new president the position under Lebanon s sectarian system is held by a Maronite Christian and the ongoing void is exacerbating Lebanon s political instability and economic crisis According to the Lebanese constitution the 128-member legislature requires a majority of two-thirds (85) to elect a president in the first round, and then in the second round, a candidate can be elected by a simple majority of 65 lawmakers As the chamber continues to deliberate on the issue in effort to get to the 85 votes here is a breakdown of the top four who have emerged as the leading potential successors to Aoun

Frangieh also has the support of House Speaker Nabih Berri's Amal party, a close ally of Hezbollah Lebanese Prime Minister Najib Mikati also endorsed Frangieh for president in November But even with those and Hezbollah Frangieh is currently short of the 65 seats as he lacks support from the major Christian parties the Lebanese Forces (LF) the Free Patriotic Movement (FPM) and the Phalangists Hanin Ghaddar, a fellow at the Washington Institute for Near East Policy, said Hezbollah s strategy is not necessarily to get Frangieh into the presidency the group could be bargaining and ultimately settle for a compromise candidate under certain conditions “this is more of a negotiation technique ” Ghaddar told AlMonitor “Hezbollah wants a consensus president to make sure this person gives them certain guarantees Ghaddar said Hezbollah s main goals are ensuring the president will allow Hezbollah to retain control over their weapons military operations and territories Hezbollah may also settle for a president they did not nominate so as to avoid blame for Lebanon s situation, she said Aoun was elected in 2016 with support from Hezbollah, and in turn “Hezbollah got all the blame for bringing him as president and bringing the collapse of the country ” said Ghaddar “they don’t want to be blamed anymore "

GEBRAN BASSIL

Daily Star b i r u pA k s h A pAu l

SULEIMAN FRANGIEH

Hezbollah, the Lebanese Shiite political party and militia threw its backi n g b e h i n d S u l e i m a n F r a n g i e h ' s presidential bid the natural candidate we support in the presidential elections i s m i n i s t e r S u l e i m a n F r a n g i e h H e z b o l l a h s e c r e t a r y g e n e r a l H a s s a n N a s r a l l a h s a i d i n a t e l e v i s e d s p e e c h Frangieh 56 a former member of parl i a m e n t a n d l e a d e r o f t h e p r o - S y r i a Christian political party Marada, hails f r o m a p o l i t i c a l d y n a s t y i n n o r t h e r n L e b a n o n H i s g r a n d f a t h e r a n d n a m esake was president from 1970 to 1976 t h e L e b a n e s e c i v i l w a r b r o k e o u t i n 1975 and lasted 15 years t h e g r a n d s o n a n d H e z b o l l a hb a c k e d c a n d i d a t e i s a c l o s e p e r s o n a l f r i e n d o f S y r i a n P r e s i d e n t B a s h a r a lA s s a d h a v i n g s p e n t t i m e i n S y r i a d u ri n g t h e L e b a n e s e c i v i l w a r H i s f a t h e r m o t h e r a n d s i s t e r w e r e a s s a s s i n a t e d i n 1 9 7 8 w h i c h p r o m p t e d t h e m o v e t o S y r i a

GEN JOSEPH AOUN G e n J o s e p h A o u n ( n o r e l a t i o n t o t h e f o r m e r p r e s i d e n t ) i s t h e c o mm a n d e r o f t h e L e b a n e s e A r m e d F o r c e s U n l i k e F r a n g i e h h e e n j o y s s o m e s u p p o r t f r o m t h e U n i t e d S t a t e s t h e G u l f a n d F r a n c e Wa s h i n g t o n a n d P a r i s h a v e s h i e d a w a y f r o m s u p p o r ti n g a n y c a n d i d a t e p u b l i c l y b u t t h e a r m y i s s e e n a s a p i l l a r o f s t a b i l i t y i n L e b a n o n a m i d t h e w o r s t e c o n o m i c c r is i s i n L e b a n e s e h i s t o r y B u t f o r G e n A o u n , 5 9 , t o b e e l e c t e d , a v o t e o n a c o n s t i t u t i o n a l a m e n d m e n t i s r e q u i r e d i n t h e p a r l i am e n t , s i n c e t h e L e b a n e s e c o n s t i t u t i o n does not allow for a candidate to be an operational army officer As Al-Monitor r e p o r t e d L e b a n o n h a s e l e c t e d f o u r army commanders to the presidency in the past starting with Fouad Chehab in 1 9 5 8 m a i n l y E m i l e L a h o u d ( 1 9 9 82 0 0 7 ) M i c h e l S u l i e m a n ( 2 0 0 8 - 2 0 1 4 )

and Michel Aoun (2016-2022) Gen Aoun gave a fiery speech on tuesday defending the armed forces against fabricated rumors and accusations of corruption, the Lebanese news outlet Naharnet reported the Lebanese news outlet LBCI described the speech as “presidential ”

A third name circulating for the presidency is Gebran Bassil who heads the Free Patriotic Movement and is the sonin-law of former President Michel Aoun Bassil is also close to Hezbollah but has yet to announce his candidacy Bassil 52 is a divisive figure in Lebanese politics and does not have enough support outside the FPM In 2020 he was sanctioned by the US government under the Global Magnitsky Human Rights Accountability Act, which targets human rights abuses and corruption He denies the corruption allegations Former President Aoun could maintain influence should Bassil become president "I cannot hide my closeness to the head of state and his paternal role in relation to me politically But in general it is the son who listens to his father and not the other way around Bassil told the Lebanese news outlet L Orient today in 2020 Reuters reported in November that Bassil was seeking a compromise candidate but leaving the door open for a presidential bid of his own MICHEL MOAWAD

Moawad is currently a member of parliament and declared his candidacy for presidency last year He is the son of former President Rene Moawad, who was assassinated in office in 1989 just 17 days after taking office Moawad, 50, has considerable support from the US, according to Ghaddar, who pointed out that the Rene Moawad Foundation a philanthropic organization is based in Washington Moawad met with US ambassador Dorothy Shea earlier this month He told the diplomat that he will not accept a president who is an extension of the resistance axis referring to Hezbollah LBCI reported Hezbollah adamantly opposes Moawad and the parliament member has criticized them the state does not have the monopoly on arms, where the strategic decisions are taken today by Hezbollah, Moawad told the National in February Know more: Someone out of the pool of four (Moawad, Bassil, Aoun and Frangieh) could emerge in the twists and turns of Lebanese politics and become president Former Interior Minister Ziad Baroud an independent has also been floated as a potential next president by Lebanese media but he has not had enough backing from the political establishment

I"S B a n g l a d e s h a p l a c e o f l o o ters?" – this question was raised b y t h e H i g h C o u r t l a s t m o n t h the court asked this question referring to a recent Bangla report, whose headline roughly translates to "Festival of purchasing properties abroad " the court's q u e s t i o n i s i n d i c a t i v e o f w h a t i s g o i n g o n i n the financial sector of Bangladesh right now But to blame dual citizenship for the evergrowing culture of looting as well as money laundering may be inappropriate the act of earning a second citizenship in another country has never been a main contributor to trafficking funds overseas While investigating the main reasons or avenues of illicit outflows of funds, not a single report of the US-based think tank Global Financial Integrity has blamed dual citizenship as a vital reason Rather, dual citizenship has proven to be a boon to remittance inflows in Bangladesh, and those inflows rescued the economy from sliding into a full-scale disaster emerging from the dollar crisis

As reports in February unveiled the US is the top source of remittances to Bangladesh surpassing Saudi Arabia and the UAE the US requires residency or citizenship to allow Bangladeshi people to earn and send dollars to their home country Other European countries that award citizenship to Bangladeshi people are gradually turning out to be increasingly reliable sources of remittance income In contrast, Middle-Eastern countries are gradually losing their oil-based revenue because of the rise in green substitutes these nations are comparatively restrictive in offering their citizenship to Bangladeshi workers

As a result the relative share of remittance from these countries is dwindling the court s direction in framing causality may be mistaken Dual citizenship is not the root factor for looting wealth from the country It is the very Bangladeshi style of rewarding for looting banks that is to blame for the financial haemorrhage that Bangladesh is facing now In the name of loan rescheduling, the general amnesty conferred upon the big defaulters by the central bank is a major reason why the act of looting has triggered a renaissance of stashing funds overseas of late Recently, a former central bank governor commented that the concessions given to defaulters in this country have no parallel in any country or in history

Of course the looters are sometimes seeking dual citizenship under the investment residency quota in different countries by showing their enormous wealth which they gained through the loose banking rules approved by the government Getting citizenship in developed countries is hard and problematic for them because those countries will ask for evidence of valid sources these looters prefer parking their funds in countries where there are less queries

In the end, they park their ill-gotten money in the Swiss Bank which does not ask anything thus, allowing these looters to steal and get away with it in the first place is the root cause

Hundreds of cases on defaulted loans are pending with legal institutions, and there has been no exemplary punishment for those who plundered public money that impunity induces the delinquent borrowers to acquire dual citizenship in order to protect their future overseas the trend of money laundering as well as defaulting on loans is simultaneously rising since the government allowed extended family-based directorship in private banks in 2017 It invariably helped banks turn into private shops for siblings and cronies and largely ruined the corporate culture these institutional changes and privileges to the tycoons are at the root of money laundering the tardiest legal system has refuelled the culture of looting A former caretaker government adviser recently blamed court stay orders on big default cases – a process that has made the wound even worse the justices commented that dual citizenship holders have less responsibility towards the country as their hearts are divided thousands of students migrate to developed nations every year for higher studies When they earn citizenship after getting jobs they send money back to their families they also enrich their birthplace by delivering their ideas technology and expertise – which economists define as trickle-down benefits Many Bangladeshis migrate overseas through lotteries or family visas they struggle a lot, but still send money back to their home country By any means, these are not any instances of either less responsibility or divided hearts

Forty-nine percent of all countries now allow dual citizenship and most of them are developed or middle-income countries After understanding how beneficial dual citizenship can be for Bangladesh in an increasingly globalised world the government on February 27 added another 44 countries on top of the existing 57 countries where Bangladeshis can get dual citizenship this step deserves appreciation as timely and farsighted for a super-densely populated country like Bangladesh

While Bangladesh appears to be liberal in allowing dual citizenship, both Pakistan and India are highly restrictive But the amount of money laundered out of India or Pakistan is no less than that from Bangladesh the 2021 Global Financial Integrity Report shows that Bangladesh lost the third highest quantity of trade-related outflows ($8 3 billion) after Pakistan ($8 5 billion) and India ($67 5 billion) annually over 2009-2018 the revenue loss was 17 percent for Bangladesh 19 percent for Pakistan and 20 percent for India the nature of citizenship seems to have played no role in their case

Poor governance in the financial sector politicised interventions into banking affairs allowing massive clemency to habitual defaulters, rewarding money launderers in the national budget and, finally, not punishing any big defaulters or stock market scammers are the main reasons why money laundering and buying properties abroad by a handful of bandits have skyrocketed On February 6, the agriculture minister acknowledged the evolution of Begum Paras in Canada US and Dubai It has nothing to do with dual citizenship which has been in place among nations for decades If anyone is politically pampered and plots to be a wilful defaulter they needn t be overseas to remain safe they are much safer in what the court labels as a place of looters If they can somehow manage a nomination for the next election, this place will turn into a "paradise of plundering" for them Why would anyone care about dual citizenship then?

Dr Birupaksha Paul is a professor of economics at the State University of New York at Cortland in the US

I s d u a l c i t i z e n s h i p t o b l a m e f o r m o n e y l a u n d e r i n g ?

ISLAMABAD

M a n a b R a R

LI Qiang the former Communist Party chief of Shanghai, took office on Saturday as China’s premier the country’s No 2 post putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of Covid-19 curbs Widely perceived to be pragmatic and business-friendly, the 63year-old Li faces the daunting task of shoring up China’s recovery in the face of global headwinds

On Saturday, Li received 2,936 votes, with three votes against and eight abstentions according to totals projected on a screen inside the Great Hall of the People in central Beijing Li will make his closely watched debut on the international stage on Monday during the premier s traditional media question-and-answer session after the parliamentary session ends

Li was put on track to become premier in October, when he was appointed to the number-two role on the Politburo Standing Committee during the twice-adecade Communist Party Congress Li takes office as tensions rise with the West over a host of issues including US moves to block China s access to key technologies and as many global companies diversify supply chains to hedge their China exposure

The career bureaucrat replaces Li Keqiang who is retiring after two fiveyear terms Li was Xi s chief of staff between 2004 and 2007, when the latter was provincial party secretary of Zhejiang province

Numerous other officials are due to be confirmed on Sunday including vice premiers a central bank governor and other ministers and department heads China s economy grew just 3pc last year, and on the opening day of parliament Beijing set a modest 2023 growth

Japanese girl ‘sexually assaulted’ during holi festival in india

A young Japanese woman was sexually assaulted by a group of men during the celebration of the Hindu festival of Holi in New Delhi on Wednesday

international media reported

In a video that has gone viral on Twitter, the woman can be seen being groped by five or six men who forcefully smeared her face with colours while screaming “happy Holi The video also showed a man smashing an egg on the woman s head as she was being shoved around The woman could be heard saying “bye-bye” as she attempted to escape the crowd

target of around 5pc, its lowest goal in nearly three decades Li s top task this year will be beating that target without triggering serious inflation or piling on debt, said Christopher Beddor deputy China research director at Gavekal Dragonomics China s post-pandemic recovery has been uneven, with February inflation unexpectedly soft while Chinese e-commerce giant JD com Inc warned on Thursday that rebuilding consumer confidence would take time

On Friday the Xinhua news agency

reported that an official with China s state planning agency had met with a vice president from US chip giant Qualcomm Inc and conveyed that it will provide a good business environment for multinationals

People who have interacted with Li say they found him practical-minded an effective operator and supportive of the private sector – a stance that would be expected in someone whose career put him in charge of some of China s most economically dynamic regions

As Communist Party chief between 2002 to 2004 in his home city of Wenzhou a hotbed of entrepreneurialism Li came across as open-minded and willing to listen, said Zhou Dewen, who represented small and midsize enterprises in the city He took a liberal approach of granting private companies default access to enter the market except when explicitly banned by law rather than the traditional approach of keeping private companies out by default, said Zhou Craig Allen president of the U SChina Business Council and a former U S official, said Li sought to level the playing field for foreign businesses, pointing to the speed with which U S carmaker Tesla was able to get its Shanghai factory there operational in 2019

“Clearly nothing got in the way once a decision was made There was a clarity of a kind in his decision-making, an authority, and that really helps, said Allen, describing Li as comfortable in his own skin

BBC presenter Lineker pulled from air over ‘1930s germany’ post on Uk migrant policy

LONDON

R e u t e R s

Former England soccer captain Gary Lineker has been taken off air by the BBC after his comments on Britain’s migration policy sparked a furious row between the government and the corporation’s highestpaid presenter Lineker was told there has to be an agreed position on his use of social media before he can return, the BBC said on Friday

The row overshadowed a migration deal struck between British Prime Minister Rishi Sunak and French President Emmanuel Macron, with the BBC accused of bowing to political pressure

The focus on this is being used by the government both to find someone to blame and also to distract from their own serious failures,” said the opposition Labour Party’s home affairs spokesperson Yvette Cooper On Tuesday Britain announced details of a new law which would see migrants arriving in small boats across the Channel prevented from claiming asylum and deported either back to their homeland or to so-called safe third countries

It drew criticism from opposition parties, charities and the UN’s refugee agency for its impact on genuine refugees Lineker who has previously hosted refugees in his home, retweeted a post featuring a video of interior minister Suella Braverman talking about the law, with the comment “Good heavens this is beyond awful” Challenged by a respondent he said: This is just an immeasurably cruel policy directed at the most vulnerable people in language that is not dissimilar to that used by Germany in the 30s and I m out of order?

DUBAI ag e n c i e s

Iran has reached a deal to buy advanced Su-35 fighter planes from Russia Iranian state media said on Saturday, expanding a relationship that has seen Iranian-built drones used in Russia’s war on Ukraine

The Sukhoi-35 fighter planes are technically acceptable to Iran and Iran has finalised a contract for their purchase ” the broadcaster IRIB quoted Iran s mission to the United Nations as saying in New York The report did not carry any Russian confirmation of the deal, details of which were not disclosed The mission said Iran had also inquired about buying military aircraft from several other, unnamed countries, IRIB reported

Russian President Vladimir Putin met Iranian Supreme Leader Ayatollah Ali Khamenei in Tehran last July, stressing closer ties in the face of Western pres-

WASHINGTON a f p

sure over the war in Ukraine

Iran has acknowledged sending drones to Russia but says they were sent before Moscow s invasion of Ukraine last year Moscow denies that its forces use Iranianbuilt drones in Ukraine although many have been shot down and recovered there Iran s air force has only a few dozen strike air-

The leaders of the United States Britain and Australia meet Monday in San Diego with an expected announcement on nuclear submarines, a landmark step in military cooperation as concerns grow over a fast-rising China US President Joe Biden Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak will gather in the California naval hub to flesh out the new three-way security pact dubbed AUKUS which the nations unveiled in September

2021

The key element of AUKUS was a US agreement to export to Australia its prized technology of nuclearpowered submarines previously shared only with Britain when it designed its undersea fleet in the 1960s

Ahead of the expected announcement for Britishbuilt submarines with US parts, China warned that AUKUS risked setting off an arms race and accused the three countries of setting back nuclear nonproliferation efforts

CHRISTCHURCH

a f p

A stubborn Daryl Mitchell century and a rollicking 72 from Matt Henry boosted New Zealand to a slim first-innings lead over Sri Lanka in the first

Test on Saturday New Zealand were all out for 373 in reply to Sri Lanka s 355 on day three in Christchurch The tourists went in for tea at nine without loss in their second innings with Dimuth Karunaratne on eight and Oshada Fernando unbeaten on one Sri Lanka, who need to sweep the series to keep their hopes of making the World Test Championship final alive had New Zealand in trouble at 151 for five on the second day

But Mitchell who has so often been New Zealand s saviour in his 17-Test career, refused to give in as he toiled through 193 deliveries for his eighth century The 31-year-old right-hander son of

craft: Russian jets as well as ageing US models acquired before the Iranian revolution of 1979

In 2018 Iran said it had started production of the locally designed Kowsar fighter for use in its air force Some military experts believe the jet is a carbon copy of an F-5 first produced in the United States in the 1960s

Lineker faced a backlash to his comments, which were criticised by Sunak s spokeswoman as not acceptable” but said he would “continue to try and speak up for those poor souls that have no voice

The BBC said after talks with Lineker and his team that it had decided he would step back from presenting its flagship Match of the Day (MOTD) soccer highlights programme until we ve got an agreed and clear position on his use of social media

Two of the show s pundits, former England players Ian Wright and Alan Shearer said they would not appear on Saturday s MOTD in solidarity with Lineker With regular pundit and ex-England defender Micah Richards also saying he would not appear if he had been booked some questioned the viability of Saturday s show B r e a C h o f g u i d e l i n e s: Lineker has hosted MOTD for over 20 years and the charismatic 62-yearold has never been afraid to voice his opinions about political issues

The BBC said it considered his recent social media activity to be a breach of its guidelines

“We have never said that Gary should be an opinionfree zone or that he can t have a view on issues that matter to him, but we have said that he should keep well away from taking sides on party political issues or political controversies ” it added The BBC funded by what is in effect a 159 pounds ($192) annual license fee tax on all television-watching households, has a central presence in British cultural life

“We urge the US, the UK and Australia to abandon the Cold War mentality and zero-sum games honour international obligations in good faith and do more things that are conducive to regional peace and stability,” Chinese foreign ministry spokeswoman Mao Ning told reporters in Beijing Australia has made clear that it will not pursue nuclear weapons, unlike its two allies But nuclear-powered submarines would allow Australia in the coming decades to maintain an underwater presence for months on end, offering an advantage as China’s military expands its reach China in recent months reached a controversial security pact with the Solomon Islands and has not ruled out the use of force to take Taiwan, a self-governing democracy that is claimed by Beijing and effectively blocks it from projecting military power deeper into the Pacific Britain s The Times newspaper reported that Australia is expected to acquire submarines built by Britain rather than the United States under the AUKUS pact because it is easier to crew the smaller

UK vessels ‘B o i l s d o w n to C h i n a’: Charles Edel the Australia chair at the Center for Strategic and International Studies in Washington, said that the United States through AUKUS was strengthening two of its closest allies and seeking to convince China that it is no longer operating in a permissive security environment Each nation has a slightly different rationale for AUKUS but it largely boils down to China ” he said China was not mentioned when AUKUS was first announced, although the exponential growth of Beijing’s military power and its more aggressive views over the past decade were the clear animating force behind it he said For Australia, AUKUS represents a major shift in strategy as distrust grows of China, while for Britain, the partnership offers a new outlet for influence after its divorce from the European Union Edel said AUKUS infuriated France as Australia abruptly scrapped a $66 billion deal to buy French conventional submarines

left-arm spinner Prabath Jayasuriya

former All Blacks player and coach John Mitchell lifted his average to a remarkable 58 from 25 innings

After New Zealand’s top order had struggled Mitchell put on 54 for the sixth wicket with Michael Bracewell, a further 47 with Tim Southee and 55 with Henry Mitchell leapt in the air waved his bat and received a hug from Henry to celebrate his milestone but added only two more runs before was caught behind off Lahiru Kumara and New Zealand were 291 for eight Henry then exploded and his personal-best 72 came primarily from boundaries, with 10 fours and three sixes Seventeen runs off one Dhananjaya de Silva over saw the spinner belted out of the attack But worse was to come for Sri Lanka when his replacement Kasun Rajitha conceded 24 to Henry in his first over The third-day wicket did offer assistance to the bowlers with Rajitha and

Asitha Fernando both getting movement early in the day

Leading up to the drinks break, Bracewell, who had seemed the more settled of the New Zealand overnight pair, was undone by the introduction of

An appeal for lbw was turned down with reviews showing height was an issue, but with his next delivery Jayasuriya found an edge and Bracewell was caught behind for 25

M i t c h e l l a n c h o r s N e w Z e a l a n d r e v i v a l a g a i n s t S r i L a n k a

I ra n to b u y S u - 3 5

fi g hte r j e t s f ro m R u s s i a

C h i n a i n s i g h t s a s AU K U S l e a d e r s m e e t o n s u b s

i Q i a n g ta k e s r e i n s a s

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WR I T I N g for Business Recorder author Farhat

NDMA sends another ship with 550 tons of load for quake -hit people in Turkiye, Syria

i s l a m a b a d: As part of continuous relief assistance on Prime Minister s directions, to Quake-affected people of Turkiye & Syria, NDMA has sailed off another ship PNS Moawin with 550 tons of relief goods today from Karachi Chairman NDMA Lt Gen Inam Haider Malik & Turkish Consul General Jamal Sangu and Commander Pakistan Fleet Rear Admiral Faisal Abbasi graced the departure ceremony of the Ship

The Turkish Consul General Jamal Sangu conveyed gratitude to Govt and people of Pakistan for extending humanitarian support in the aftermath of the deadly earthquake in his country The ship carrying 2625 family-sized fire resistant winterized tents & 38370 blankets making a total of 367 tons for quake-affected Turkiye, whereas 179 tons aid consisting of 22000 blankets, 144 tons of donations including essential items of daily use for Syria NDMA coordinated Ship carrying aid for the two countries has departed today and would reach Mersin port Türkiye on 23 & Lattakia port Syria on 31 Mar 23 Earlier on 28 Feb NDMA sailed off 1st sea cargo of 1000 tons for both countries through PNS Nasr that will be received at destination in Syria on 13 Mar and 19/20 Mar in Turkiye

So far NDMA has dispatched 2812 tons of relief assistance to both countries containing Winterized family tents blankets ration packs and other essential items The relief aid was sent off through all possible means of transportation which includes three C130 PAF aircrafts one PAF IL 78 three Turkish Aircrafts three PIA chartered flights in addition to 29 free belly space on regular flights, one NDMA chartered cargo, 21 NDMA hired NLC trucks, two Naval ships and containers on a civil ship NDMA being the lead agency of Pakistan, is spearheading massive relief operations by using every possible available mean of transportation to maximize the assistance for brothers & sisters of affected countries p r

National Polic y D ialogue on Loc alization for Growth tomorrow

Karachi: A distinguished line of speakers will be gathering on March 13, 2023 for a conference on National Policy Dialogue on the Power Sector under the theme of Localisation for Growth The event is being convened by Nutshell Group in collaboration with K-Electric and will address today s pertinent challenges in promoting indigenous growth The daylong summit features high-profile speakers including Federal Minister for Power Khurram Dastgir Khan; Government of Sindh, Kamran Tessori; CEO K-Electric Moonis Abdullah Alvi; and CEO & Founder Nutshell Group, Muhammad Azfar Ahsan The dialogue titled, Localisation for Growth will explore the local opportunities that can support and combat prevailing challenges in creating and maintaining efficient, resilient supply chains that can catalyze Pakistan’s manufacturing sector and support the country’s economic aspirations Potential multi-billion investment opportunities exist across the country particularly within the power sector The discussions will lead to formulating a way forward toward utilizing indigenous resources for innovative and technological advancement All three tangents of acquiring equipment and components for the development of powerproducing units, electricity transmissions, and distributions network will be addressed

According to a report titled CAREC Energy Outlook

2030” released by the Asian Development Bank (ADB), Pakistan’s energy sector needs investments ranging from USD 62 billion to USD 155 billion by 2030 The most significant investments are required in the power generation and energy efficiency sectors because of the rapidly growing demand and low baseline efficiency p r

O mbudsman Western Australia, PSO to Australian President reach K arachi today

K a r a c h i: Ombudsman Western Australia Mr Chris Field and Principal Assistant of Chief of Staff to the President Ms Rebecca Poole are visiting Karachi on an official visit and would reach Karachi on March 12 The Provincial Ombudsman Sindh Mr Ajaz Ali Khan would be hosting them During their visit they would call on Honourable Chief Minister Sindh on March 13 and will visit Sindh Ombudsman Secretariat on March 14 They would call on Governor Sindh on March 15 and they will also visit Mazar-e-Quaid and Mohatta Palace p r

Silkbank continues growth momentum

SIlkbank continues its upward trajectory in its flagship Consumer segment along with healthy growth on Branch Banking side vividly reflecting its customeroriented approach Meanwhile, the Bank has been granted extension in time for holding its Annual General Meeting (AGM) for the year Dec 31, 2021 till April 30, 2023 This extension will help Bank to materialize its capital injection efforts It has been Silkbank s consistent endeavor to generate stable revenues through competitive product offerings and enhanced customer experience p r

Ali explains that in 2015 China and Pakistan signed 51 agreements and Memoranda of Understanding worth $46 billion to launch the China Pakistan Economic Corridor (CPEC) a flagship project of China s Belt and Road Initiative (BRI) The project aimed to modernize Pakistan's infrastructure, improve connectivity within the country and with China via road networks and rail transportation, and develop the energy sector Over time the establishment of Special Economic Zones (SEZs) and the development of Pakistan s industry were added to the CPEC portfolio

Initially CPEC was expected to create over 2 3 million jobs between 2015

and 2030 and add 2 to 2 5 percentage points to Pakistan s annual economic growth leading to sustainable fiscal consolidation and growth However after eight years these promises have not been fulfilled Instead many mega projects were ill-planned and badly executed resulting in a lack of economic sense such as the imported coal and LNg-based power plants that lack financing to import fuel As a result, more people have fallen below the poverty line, and many young people are moving overseas for better opportunities

According to IMF data, China holds approximately $30 billion of Pakistan's $126 billion total external foreign debt which is thrice its IMF debt ($7 8 billion) and exceeds its borrowings from the World Bank and Asian

Development Bank combined Pakistan has urged China to reschedule its debt but without success The loans from lenders were soft loans on easy repayment terms in Europe and Japan Their policies were aimed at achieving revenue generation targets creating new job opportunities and striving for rapid industrialization to help their economies increase exports to meet the growing global market demand

However, none of this happened in Pakistan due to wrong priorities of loans, widespread misgovernance, and lack of ownership by successive governments This has resulted in mounting circular debt and bleeding public sector enterprises sustained on expensive loans by successive governments

In this regard the lenders also carry some re-

sponsibility

The IMF enforces fiscal controls for fiscal discipline advocating increased taxation raising energy tariffs and petroleum prices to fund full cost and eliminate subsidy a market-based exchange rate exports and import surveillance

However the Fund conveniently ignores the governance model of the program country which is the root cause of seeking one IMF loan after another Bilateral loans should only be made available to countries armed with fiscal and governance strength and seeking a loan as a stopgap and not as a perpetual bailout due to misgovernance and incompetence

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Cost of BRT Red Line projec t increased due to inflation: Memon

KArAchi s ta f f r e p o r t

Sindh Minister for Information Transport and Mass Transit Sharjeel Inam Memon has said that due to current economic situation the Sindh government has reduced it s expenditures and made cuts on development projects but no cuts have been made in public transport projects

The minister pledged to complete all the projects on priority basis He added that peoples bus service and EV Bus would be started on all major routes of Karachi

The minister said this while talking to media after inspection of BRT Red Line Corridor on Saturday

The minister said that the chief minister Sindh Murad

Ali Shah had given him full support to complete the public transport projects

The minister added that he visited today BRT Red Line project with project consultants and contractors to inspect the pace of work

He said that due to historic inflation in the country

the cost of project has increased and contractors were facing difficulties to maintain the pace of work When they started work on the project the iron cost them Rs140 000 per ton which is increased to Rs310 000 per ton The minister said that they held detail discussion with the contractors and assured them that there genuine issues would be resolved and also talked with Asian Development Bank on the matter On the assurance from

S audi-Iran rapprochement: dawn of a new era

Syed Ali NAwAz GillANi

The resumption of bilateral diplomatic relations between Iran and Saudi Arabia brokered by China is a significant development in the ongoing political landscape of the Middle East The tensions between the two regional powers have been a source of instability and conflict in the region, with proxy wars and political maneuvering being played out

However, the success of China’s diplomatic efforts in facilitating the rapprochement signifies a potential shift in the region’s power dynamics China’s growing influence in the Middle East is a topic of interest particularly regarding its role in shaping the region s future While China has been successful thus far in its pragmatic and non-interventionist approach many question how it will balance its relationships with competing powers in the complex political landscape of the region

Nonetheless, it is clear that China's strategic and economic interests in the Middle East will continue to impact its role in the world Whether it can effectively navigate this challenging environment remains to be seen

The timing of the Iran-Saudi Arabia agreement, which was signed on the same day (March 10th) as Chinese President Xi Jinping’s formal re-election to his third term cannot be ignored It serves as a clear indication of China s growing influence and willingness to play a more active role in global affairs including those in the Middle East

The deal is also a clue of the waning influence of the United States in the region For decades Washington has played a dominant role in shaping the politics and security of the Middle East However, the recent deal brokered by China signals a shift in the balance of power in the region, as other nations begin to assert their influence

The resumption of diplomatic relations between Iran and Saudi Arabia, if implemented in good faith, could pave the way for a wider regional peace agreement The two nations have a long and complicated history with sectarian divides and political rivalries fueling tensions However the willingness of both sides to come to the negotiating table and engage in dialogue is a positive step forward

The agreement also serves as a reminder that diplomacy and dialogue are key to resolving conflicts and maintaining peace The use of force aggression and sanctions have often exacerbated tensions in the region, leading to further instability and insecurity The resumption of diplomatic relations between Iran and Saudi Arabia offers a glimmer of hope that peaceful solutions can be found to even the most intractable conflicts

However, the road ahead remains uncertain, and much will depend on the ability of both Iran and Saudi Arabia to honor their commitments and work toward a peaceful resolution The international community must also play a role in supporting this process including the United States which has long been involved in the politics of the region

The recent resumption of bilateral relations between two arch-rivals Iran and Saudi Arabia with the help of China marks a critical juncture in the perpetual geopolitical turmoil of the Middle East Despite the numerous challenges that lie ahead, this significant diplomatic breakthrough provides a ray of hope that peaceful resolutions can be achieved even in the most persistent and entrenched disputes To preserve the integrity of this momentous accord, it is

incumbent upon the international community to extend its support and ward off any political gamesmanship or extraneous meddling

This development underscores the importance of diplomacy in addressing conflicts and the potential of neutral parties like China to facilitate resolution of longstanding issues in the Middle East Notably, China s pragmatic and non-interventionist approach to the region’s affairs has played a pivotal role in bringing Iran and Saudi Arabia to the negotiating table

The successful mediation by China demonstrates the capacity of a mediator to bring hostile parties together and highlights the value of diplomacy as an effective instrument for conflict resolution In light of these observations it is imperative that the international community including other global players recognize and endorse the utility of diplomatic channels and aid in efforts towards establishing a more peaceful Middle East

Besides mediating between Iran and Saudi Arabia China has actively participated in other regional conflicts, such as the Syrian Civil War and the Yemeni Civil War China has provided diplomatic support to the Syrian government and has been involved in the country’s reconstruction

In Yemen China has sought to remain neutral advocating for an end to the conflict and providing humanitarian aid to those affected by the war China’s influence is expanding beyond the Middle East with its Belt and Road Initiative (BRI) being a critical driver of China’s growing global influence BRI seeks to construct infrastructure projects in over 60 countries across Asia, Europe, and Africa, extending China's economic and political reach far beyond its borders

This has generated concerns regarding its intentions and whether it represents a threat to the current world order The United States in particular is wary of China s rise and is attempting to contain its influence through measures such as trade tariffs and military alliances However some countries view China s involvement as a welcome alternative to the United States and its allies

The dynamic nature of China s role in the Middle East and its global pursuits is ever-evolving and only time will tell how it will influence the future of the region China s practical and non-interventionist methodology although efficacious thus far raises questions regarding its ability to navigate the intricate political terrain of the Middle East while balancing its relationships with rival powers One undeniable fact, however, is that China’s burgeoning economic and strategic objectives in the Middle East and other realms will undoubtedly shape its role in the region and beyond

The author is Peshawar-based Secretary General of Pakistan China Friendship Association and can be reached through email syeed gilani@gmail com

Sindh government, the contractors have paced up the speed on the project two days ago

The minister said that after the assurance to contractors, Sindh government would not accept any compromise on the speed of project as citizens of Karachi were facing severe problems He admitted as minister that citizens of Karachi who use university road were facing troubles and apologized with the people of Karachi for the difficulties He added that once the project completed it will benefit the people

He said that government is well aware of situation and it s machinery is on the field to complete the project as soon as possible He said that peoples bus service Pink Bus Service and EV Bus has received tremendous response from the citizens More routes would be functionaze within a week or fortnight Responding to question , he said that fare of people s bus service are under review and added that due to inflation in the country and increase in diesel prices people s bus service could not be operated on current fare structure

KP governor inaugurates olive Festival at tarnab Farm

PeShAwAr s ta f f r e p o r t governor Khyber Pakhtunkhwa, Haji ghulam Ali on Saturday Olive Festival being held at Agricultural Research Institute Tarnab Farm Peshawar and inspected various stalls set up at the festival During his visit the KP governor announced provision an olive oil-producing machine on his behalf to the farmers of the southern districts to ensure the export of olive oil The jubilant farmers lauded the governor s announcement Speaking on the occasion the governor urged the farmers to employ modern agri methods and technology to progress in the field of farming He said the production of olives not only will lead to an increase in the country s foreign exchange but also lead to the economic development of farmers, the creation of employment opportunities and eradication of poverty Abdul Halim Kasuria, KP Agriculture Secretary Muhammad Asrar Khan, and Dg Research Dr Abdul Bari said the governor KP was a “public governor in the true sense” and they were grateful to him for announcing the olive oil extraction machine (OOEM) for the farmers of the southern districts With this initiative the cultivation of olives in the southern districts especially in Waziristan will be promoted more than before and now the farmers will not have to go to remote areas of the province to extract oil from Olives Italy and other donor agencies are providing a lot of support in olive farming in Pakistan and the Department of Agriculture is trying to play an important role in the promotion of olives and ensure the production of Olives in every region of the province Calling the Olive Festival important for the promotion of Olive cultivation in the province, Haji ghulam Ali said, “It will help in the promotion of Olive cultivation in the province ” Universities have to play an important role he added Member of the National Assembly Nasir Khan Musazai Provincial Ministers – Shafiullah Khan Hamid Shah representative of UNWF National Project Director Olive Dr Mohammad Tariq Director general Research Dr Abdul Bari Maulana Amanullah Haqqani Khaled Qar Chamkani and other relevant authorities and a large number of farmers were present Later, the governor also presented appreciation shields to the Secretary of the Agriculture Department, other officers of the Agriculture Department and the officers serving in the Olive Department

C TD Punjab arrests four suspec ted terrorists

lAhOre a p p

The Counter-Terrorism Department (CTD) Punjab on Saturday claimed to have arrested four suspected terrorists from different parts of the province According to a spokesman, the department conducted 45 combing operations in various districts with the help of local police and security agencies, arrested suspected terrorists and registered cases against them He said 12 combing operations were carried out in Lahore and a total of 1 002 people were checked Three combing operations were carried out in Sheikhupura 149 suspects were interrogated and 42 persons were biometrically checked

F r o m g a m e - c h a n g e r t o b a i lo u t : t h e

t r o u b l e d j o u r n e y o F c P e c

CPEC IMPLEMENTATION HAS BEEN MARRED BY POOR PLANNING, BAD GOVERNANCE, AND UNSUSTAINABLE DEBT, LEADING TO NEGATIVE CONSEQUENCES FOR PAKISTANI ECONOMY

ProSPECTIVE CAr BUyErS STArE INTo ABySS AS ToyoTA

ANd LUCky MoTorS ANNoUNCE fIfTh PrICE hIkE for 2023

Analysis: SVB’s lightning collapse stuns banking industry

The rapid unraveling of SVB Financial Group (SIVB O) has blindsided the banking industry after years of stability The collapse on Friday the largest bank failure since the 2008 financial crisis had a unique set of circumstances but raised questions about hidden weaknesses that could have consequences for customers and employees and potentially highlight issues in other banks SVB s plight could lead to a loss of confidence, tougher regulation and investor skepticism about the financial health of smaller banks that were seen as adequately capitalized after regulators forced banks to hold more capital in the aftermath of the 2008 crisis experts said

Sheikh Waqas Akram joins PTI

Islamabad S ta f f r e P o r t

Former federal minister and Pakistan Muslim League-Nawaz (PML-N) leader Sheikh Waqas Akram along with his supporters on Saturday joined Pakistan Tehreek-e-Insaf (PTI) Sheikh Waqas who served as federal minister during the tenure of PPP government from 2008-12, met with PTI Chairman Imran Khan and joined PTI along with his companions The former premier extended a warm welcome to the former minister on joining PTI

It is to be recalled that in June, 2022, Sheikh Waqas Akram had announced his support for Pakistan Tehreek-e-Insaf (PTI) candidates in the Jhang by-elections

ECP notifies PTI candidate’s win in NA-193

Islamabad

S ta f f r e P o r t

Muhammad Mohsin Leghari of the Pakistan Tehreek-eInsaf (PTI) has officially been declared the winner in the NA-193 constituency by the Election Commission of Pakistan (ECP) in its notification issued here on Saturday Mohsin has effectively secured his place in the National Assembly with a staggering 91 103 votes beating his closest rival by over 35 000 votes

His closest rival, Ammar Ahmed Khan Leghari of the Pakistan Muslim League-Nawaz (PML-N), trailed far behind with 55 697 votes Meanwhile the Pakistan Peoples Party (PPP) candidate Akhtar Hassan Khan Gorchani received 20,074 votes

Bilawal and UN boss discuss Afghanistan and other key issues

UNITEd NaTIONs S ta f f r e P o r t

Foreign Minister Bilawal Bhutto-Zardari and UN Secretary-General Antonio Guterres discussed a range of issues, including Afghanistan, during their meeting at the UN Headquarters in New York

They emphasized the importance of a peaceful and stable Afghanistan, and the Foreign Minister expressed concern about the situation there

He outlined Pakistan’s efforts to facilitate humanitarian assistance and promote stability, including support for the UN Deputy Secretary-General s recent visit to Afghanistan

The UN chief praised Pakistan’s role as chair of the Organisation of Islamic Cooperation (OIC) the successful conclusion of its Chairmanship of the Group of 77, and hosting Afghan refugees for decades

The Foreign Minister appreciated the Secretary-General’s efforts for international financial reform and thanked him for his support during the catastrophic floods

Pakistani gold demand jumps as prices rebound

pr OfIT rEpOrT

S l a m a b a d

Gold prices in Pakistan rose on Saturday in line with a surge in international prices, which sparked concerns over expensive imports and raised demand for safe-haven assets

The price of gold (24 carats) increased by Rs1,200 per tola and Rs1,029 per 10 grams, settling at Rs198,700 and Rs170 353 respectively according to All-Pakistan Sarafa Gems and Jewelers Association (APSGJA)

Gold demand in Pakistan has skyrocketed, with traders setting rates in the country according to its international price Jewelers import the metal against the US dollar and UAE dirham before con-

verting its price into rupees However the yellow metal has lost Rs1,300 per tola during the outgoing week, only registering gains twice due to the volatility of the Pakistani currency

While analysts suggest that gold may be an effective defense against inflation over long periods of time, the inflation-adjusted price of gold tends to swing wildly over shorter periods making it less of a strong near-term hedge for inflation

Meanwhile, silver prices in the domestic market remained unchanged at Rs2 080 per tola and Rs1 783 26 per 10 grams In the international market gold prices rose nearly 2% due to a slide in US Treasury yields and broader financial market concerns, driving safe-haven flows into bullion The per-ounce price settled at $1 866 after a surge of $32

FIA clears six names in Hascol sc am

Islamabad S h a h z a d Pa r ac h a

In a surprising turn of events the Federal Investigation Agency (FIA) has dropped the names of six people from the massive Rs 54 billion Hascol scam The agency claimed that reinvestigation of the case revealed no involvement of these six personnels Consequently, they were given a “clean chit” by the FIA The names dropped include former NBP President Saeed Ahmed, Sir James Carter Alan Duncan Abdul Aziz Khalid Arshad Mahmood Usman Shahid and Aqeel Ahmed One of the personnels in the list is believed to have close links to finance minister Ishaq Dar

The grand scam:

In 2001, Mumtaz Hasan laid the foundation of Hascol Petroleum Limited (HPL) a private limited company that procured, stored and marketed local and imported petroleum products chemicals, and LPG The company underwent significant changes over the years transforming into a public limited company in 2007 and eventually

being listed on the Pakistan Stock Exchange (PSX) in 2014 HPL s borrowing history began with Summit Bank in 2009 but it wasn’t until 2014 that the National Bank of Pakistan (NBP) entered the scene The NBP’s involvement in HPL’s financial dealings would soon prove to be disastrous in the coming years

In January of 2022, FIA arrested HPL founder Mumtaz Hasan in connection to a massive Rs 54 billion scam Along with him 30 other suspects including current and former top officials of the NBP, HPL, and other organizations, were also implicated in the case The FIA Sindh chief described the scam as the country’s biggest financial fraud,” alleging that it was committed by HPL in collusion with the NBP s top management and other commercial banks The investigation found that from 2015 to 2020, NBP granted

funded and non-funded financial facilities to HPL in violation of prudent banking laws and practices This caused a criminal breach of trust and wrongful loss to the national exchequer

The total amount of default stood at Rs 54 billion, of which Rs 18 billion pertained to the NBP alone

The NBP had increased Hascol’s credit line from Rs 2 billion to Rs 18 billion against weak securities, and opened letters of credit (LCs) for Hascol in favour of Byco Petroleum even though there was no fuel underlying this quantum of LC Furthermore, following NBP, several other banks had opened non-product LCs which amounted to Rs 54 billion for Hascol

Reinvestigation

In a plot twist, Vitol, an exclusive supplier of petroleum, oil and lubricants to Hascol requested reinvestigation of the case in which several accused persons associated with Hascol, including former chairman Sir James Cartel Alan Duncan nonexecutive director Abdul Aziz Khalid, Arshad Mahmood, and CEO Aqeel Ahmed were implicated It claimed that FIA did not give a fair chance to present their side of the story It further argued that their nominee editors in the board of Hascol, namely the accused persons mentioned above were out of the country when the investigation began They were unable to appear before the investigation officer or have their statements recorded

Sheila Bair who headed the Federal Deposit Insurance Corp (FDIC) during the global financial crisis, said in an interview that bank watchdogs are likely now turning their attention to other banks that may have high amounts of uninsured deposits and unrealized losses, two factors that contributed to SVB’s quick collapse “These banks that have large amounts of institutional uninsured money that s going to be hot money that runs if there s a sign of trouble,” Bair said

A sequence of events led to SVB’s failure including it selling U S Treasuries to lock in funding costs due to expectations of higher rates, resulting in a loss of $1 8 billion SVB, which did business as Silicon Valley Bank also had 89% of its $175 billion in deposits uninsured as the end of 2022 The FDIC insures deposits up to $250,000 Investors and customers now face a nervous wait to see if SVB bank finds a buyer quickly During the 2008 financial crisis, Washington Mutual found a buyer immediately But for IndyMac, in 2009, it took about eight months

The speed of the SVB crash blindsided observers and stunned markets, wiping out more than $100 billion in market value for U S banks in two days

“Banks are opaque so immediately we all go ‘wait a minute how interconnected is this bank to another one,' said Mayra Rodríguez Valladares, a financial risk consultant who trains bankers and regulators “Investors and depositors do not want to be the last ones turning out the lights in the room, so they have to leave TOUGHER RULES

Several experts said any ripple effects in the rest of the banking sector may be limited Larger institutions have more diverse portfolios and deposit clientele than SVB did SVB also had a high level of reliance on the startup sector

We do not believe there is contagion risk for the rest of the banking sector, said David Trainer, CEO of New Constructs an investment research firm

The deposit base from the major banks is much more diversified than SVB and the big banks are in good financial health ”

Jason Ware chief investment officer for Albion Financial Group said linkages to the overall banking system are limited but this situation has perhaps implications for select regional banks with some direct exposure ”

Other experts said the failure could bolster efforts by U S regulators to tighten rules

The banking sector steered through the COVID-19 pandemic thanks in part to tougher rules put in place following 2008 However, during President Donald Trump’s administration, some rules were eased Those easier rules for regional banks are likely to come under greater scrutiny as watchdogs look to ensure they too have enough cushion to weather similar stresses, some regulatory and industry sources said

Senator Elizabeth Warren a prominent bank critic tweeted that the bank s failure underscores the need for strong rules to protect the financial system ”

One area of particular focus could be larger regional banks, which saw some rule relief under the Trump administration U S banking regulators said in October they were considering new requirements on large regional banks including holding more longterm debt to weather losses “It does feel like the first place that the market is going to look is to regional banks that don’t have loan diversification said Greg Hertrich head of U S depository strategies at Nomura

Another requirement that could garner more attention industry sources said was expanding which banks are required to account for the market value of held securities That requirement currently only applies to banks with over $250 billion in assets but could grow to include other firms

On Monday, FDIC Chairman Martin Gruenberg warned bankers gathered in Washington that firms are facing higher levels of unrealized losses as rapid interest rate increases have driven down the value of longer-term securities

“The good news about this issue is that banks are generally in a strong financial condition On the other hand, unrealized losses weaken a bank s future ability to meet unexpected liquidity needs,” said Gruenberg three days before SVB announced its need to raise funds

Islamabad S h a h z a d Pa r ac h a

The District Management Group (DMG) officers are likely to capture the prize slots of Director General as well as Director Hajj Operations which deal with key budgetary allocations worth billions of rupees Well placed sources in the ministry have divulged that five officers had passed the written test for the DG Hajj position Those who passed the exam included Saima Saba (PAAS), Hassan Masood (PAAS), Nadeem Abro (DMG/PAS), Nazar Muhammad Ranjha (PAAS) and Wahab Soomro (DMG/PAS) in the merit list Similarly, six officers had passed the examination for the slot of Director Hajj operations Those who passed the exam included

Fahim Afridi (DMG/PAS) Tariq Sipra (Railways), Amina Batool (IRS), Alif Jan (PAAS), Samiullah Soomro (Police) and Nasir Aziz (OMG) in order of merit

Overall eleven officers passed the written exam out of which four officers were from PA&AS, three from DMG/PAS and one each from Railways IRS Police and OMG groups

Sources said that a merit killing bias has crept in and swept the whole merit when the DMG/PAS officers dominated the interview panel and interviewed those who had qualified in the written examination for the key positions The interview panel included Minister Religious Affairs Mufti Abdul Shakoor Additional Secretary (Incharge) Religious Affairs Aftab Durrani (DMG/PAS), Shakeel Mangnejo, AS PMO DMG/(PAS), Aizar Dar,

AS Cabinet (DMG/PAS) Secretary Establishment Inamullah Dharejo (DMG/PAS) and AS Foreign affairs (FSP) Cirus Qazi

After the interview all the three officers of DMG/PAS who passed the written examination for both positions were brought to the top positions i e 1st & 2nd positions of DG Hajj and 1st position of Director Hajj Operations

Ironically 23 DGs and 24 directors of Hajj have so far been appointed in Jeddah in the last 76 years out of which all 23 DGS and 18 Directors were from erstwhile DMG providing an evidence of a