Epaper_23-03-17 LHR

What’s happening at Credit Suisse Swiss bank that had at least 1 400 Pakistani accounts

China’s eastern province to relocate industries to Pakistan

g imran says ready to talK to anyone For country ’s saKe

LAHore

S tA f f r e p o r t

What is being described as reconciliator y tone in the midst of worst polit ca crisis of the countr y s histor y former prime minister and pakistan tehreek-e-insaf (pti) chairman imran Khan on thursday said that he was ready to talk to anyone for the sake of the countr y coincid ng with pm shehbaz call for nationa unity among the political leadership to address the countr y s chal enges pti chief imran Khan on his social med a account on twitter stated that i can sacrif ce anything for the deve opment interests and democracy of pakistan the remarks by the two eaders come a day after pm shehbaz extended an offer emphasis ng that all pol tical forces would have to sit together for d alogue to steer the countr y out of the ongoing polit ca and economic crises “ i will not refra n from any sacrifice for the sake of pakistan s uplift interest and democracy imran tweeted today in this regard, i am willing to talk to anyone and take ever y step towards it the former premier further

stated i am ready to talk to anyone for the sake of the countr y s deve opment and nterest he expressed heartfelt gratitude to the party supporters and workers for jo ning his haqeeqi azad tehreek imran who has a number of cases aga nst him, has been resistng arrest and is ho ed up nside his Zaman park residence surrounded by thousands of supporters who have fought p tched battles w th the police and rangers over the past few days

shehbaz calls for un ty meanwh le pm shehbaz cal ed for national un ty among the political leadership to address the

Despite global downturn ed-tech sector sees hope with Maqsad’s $2 8m round

g pm calls For national unity among the political leadership to address challenges

countr y s challenges he made the remarks while speaking in the senate during a session to mark ts golden ubilee celebration in his speech in senate the premier said economic stabil ty could not be achieved without political stability he said that the coalit on government had sacr ficed their politics for the countr y s sake by taking up the mantle dur ng tough economic times he told the upper house of parl ament that a staff-level agreement w th the international monetar y Fund (imF) was expected soon at the same time he accused the previous government of knowingly aban-

doning the agreements it made with the money lender “the fact of the matter is that when we took over our economy was facing ver y diff cu t chal enges we had negot ated and signed the agreement with the imF but we d d not adhere to t we didn t respect the terms and conditions [and] flouted them which damaged pakistan s image trust and conf dence the pr me m nister sa d the countr y was facing serious pol tical and econom c challenges but stressed that a l parties needed to align their goals for a better pak stan let us brighten the future of pakistan we should strive not consp re remove hurdles instead of creating the [and] unite the nation instead of creating d vision the prime minister advised a day earlier pm shehbaz had extended an olive branch to him, emphasising that all polit cal forces wil have to sit for dialogue to rid the countr y of the ongoing pol tical and economic crises

“a l polit cal forces wil have to sit together to take the countr y forward the premier had sa d whi e addressing a meeting held w th a delegation of the council of pakistan newspaper ed tors (cpne) at the pm house

Default watch: Chinese bank may refinance $500m as Dar inter rogated in Senate

g Finance minister says materialisation oF commitments made by ‘ Friendly countries ’ with islamabad remains “ only delay ” in resumption oF stalled programme

the same day that fi-

admitted that

fund was asking for the materialisa-

of comm tments made by friendly

countries with islamabad which remains the only de ay in resumption of the stalled programme speaking during the senate s session today, dar said: at the t me of previous reviews certa n friendly countries made commitments to bi aterally support pakstan but the imF is now ask ng that they should actua ly complete and material se those commitments

NEPRA

reser ves judgment on govt s request to raise power surcharge

L H C b a rs p o l i c e f ro m a r re s t i n g Im ra n u n t i l t o d a y

LAHore S tA f f r e p o r t

the lahore h gh court (lhc) extended the postponement of the police operation for the arrest of imran Khan until Fr day (tomorrow) as teams arrived at mall road neighbourhood in lahore on thursday less than a five-minute drive from pakistan tehreek-i-insaf (pti) chairman s Zaman park residence separately the court also barred the opposition party from ho d ng a scheduled public rally in lahore on sunday directing the caretaker government and Khan to resolve the issue through negotiations according to dunya news

the operation was part of execut ng non-ba lable arrest warrants ssued by a sessions court for Khan, who has skipped hearings four times islamabad police supported by punjab pol ce and the rangers have faced resistance from pti workers since tuesday leading to v olent exchanges with petro bombs and tear gas subsequently on wednesday the pol ce paused the operation during the hbl pakistan super league (psl) session and until 10:00 am thursday after an order by the court on thursday pti workers gathered outside Zaman park and blocked the residence with shipp ng conta ners and chanted slogans in favour of their party chief Khan s supporters also placed rocks a ong multiple sections of the road eading to his residence before adjourn ng the proceedings, the high court ordered authorities to halt the police operation as requested by Fawad chaudhr y senior vice president of pti who had filed a pet tion to stop a leged atroc ties aga nst his party members the court s written order sa d that the injunctive orders issued on the prev ous day would rema n in force unt l the next hearing on march 17 the containers were placed after party leader musarrat Jamshed cheema in a series of tweets issued a warning say ng the pti will cont nue to defend the leader of the nation and wi l not let the “ future of pakistan be pledged to a few families ”

P M S h e h b a z , I M r a n d r o P h I n t at ta l k t o ‘ e n d S ta n d o f f ’

Pa k i s ta n , U s s e e k t o s t r e n g t h e n c l i m at e c o o P e r at i o n

ISLAMABAD s tA f f R e p o R t

PA K I S TA N and the United States held their second meeting of the Climate and Environment Working Group in Islamabad The delegation led by Pakistan s Minister for Climate Change Sherry Rehman and the U S Department of State s Assistant Secretary for the Bureau of Oceans and International Environmental and Scientific Affairs Monica Medina, discussed various climate and environmental issues, including climate change, energy transition, water management, climate-smart agriculture, air quality biodiversity and waste management including plastics recycling

The meeting highlighted the importance of building resilience to climate change and discussed the impact of the devastating

floods that hit Pakistan in 2022

The United States expressed support for Pakistan s Living Indus initiative to restore the ecological health of the Indus River Basin in Pakistan Both governments pledged to continue their cooperation on climate change mitigation and adaptation

The two countries also resolved to deepen their partnership through the U SPakistan Green Alliance framework which will focus on agriculture water and clean energy

The delegations discussed the importance of adopting modern farming practices and innovative seed varieties to bolster resilience against climate change On water management, the governments identified technical assistance, governance, and water efficiency mechanisms as areas ripe for cooperation Both governments emphasized the importance of supporting nature-based solutions and building

Police remained without firearms during imran’s arrest operation: igP

LAHORE

s tA f f R e p o R t

Inspector General (IG) Punjab said Thursday that the police force was without any firepower during the arrest operation of PTI chairman Imran Khan at his residence Zaman Park As per details, the IG Punjab clarified that police forces from two provinces and people who wear a uniform can never fight with each other He said that the police will ensure the supremacy of the law but it should never be considered a weakness The IG Punjab maintained that this was planned earlier too that DIG will take the warrant to PTI chief Imran khan’s residence He refuted rumours about police weapons and clarified that throughout the operation the police had no weapons with them The operation was stopped because of the PSL Match which the police secured properly he added IG Punjab further said that when petrol bombs are thrown from the other side and stones are pelted too then the police fire shells Earlier Pakistan Tehreek-eInsaf (PTI) Chairman and former prime minister Imran Khan claimed the real intent of the LEAs behind the entire episode was to abduct and assassinate him In a series of Tweets, Imran Khan had written: “Clearly arrest claim was mere drama because the real intent is to abduct & assassinate From tear gas & water cannons, they have now resorted to live firing ”

Pakistan expresses grief over loss of lives from floods in turkiye

ISLAMABAD

A n A d o l u Ag e n c y

Pakistan on Thursday expressed grief over the loss of lives and infrastructural destruction due to massive rains and floods in the southeastern provinces of Adiyaman and Sanliurfa in Turkey which are already struggling to recover from the February 6 twin earthquakes Prime Minister Shehbaz Sharif said in a statement that Islamabad stands in solidarity with Ankara in its efforts to handle the natural calamity, which has so far claimed 14 lives

Offering condolences to the families of the deceased Sharif said Islamabad will do whatever possible to assist Ankara in this trying hour

Heavy downpours caused a river especially in Adiyaman s Tut district and in Malatya s Dogansehir district to overflow causing flooding Interior Minister Suleyman Soylu told reporters

The Sanliurfa Governor s Office announced on Twitter that education at all levels was suspended on Wednesday and Thursday

Around 300 rescuers, including divers, continue their search and rescue efforts in and around the river Disaster teams, police, gendarmerie, and municipality staff continue to evacuate areas at risk of flooding

This comes after Adiyaman and Sanliurfa were hit last month by twin earthquakes that devastated southern Turkey and left nearly 48 500 dead

community resilience to climate change

In addition to advancing their sustainable economic growth cooperation, the United States announced new programs in Pakistan,

including a $4 5 million program from the U S Department of Agriculture to strengthen fertilizer efficiency and effectiveness for Pakistani farmers The U S Agency for

International Development (USAID) announced new activities in Pakistan to promote climate-smart agriculture and climate finance

The U S Army Corps of Engineers will start sharing weather data on glacial melt with the Ministry of Climate Change and other local stakeholders to strengthen Pakistan’s flood forecasting and disaster response capabilities Pakistan informed the United States about the approval of its new National Clean Air Policy and explained its recent waste management actions including on plastics

Finally the United States and Pakistan pledged to collaborate on a successful year as the 2023 co-chairs of the Green Climate Fund Board The Climate and Environment Working Group has made new commitments to partner together, continuing to advance their cooperation in agriculture, water, and energy transition through the U S -Pakistan “Green Alliance” framework

Imran charged with terrorism, attempted murder in violent police raid on home

LAHORE s tA f f R e p o R t

Imran Khan and members of his Pakistan Tehreek-eInsaf (PTI) party have been charged with attempted murder and terrorism during violent clashes between police and former prime minister s supporters that occurred in the aftermath of an attempted arrest at his residence in Lahore

The standoff on Tuesday resulted in four separate cases being filed against the former prime minister

These complaints have been registered under charges of terrorism, attempts to murder, burning and damaging government property, and other provisions

According to the first information report (FIR) filed at Lahore’s Race Course police station, the

violent riots were orchestrated by a criminal conspiracy led by Imran Khan himself The FIR alleges that PTI workers incited by Khan and other party leaders attacked police with batons bricks stones and petrol bombs resulting in injuries to Shehzad Bukhari the deputy chief of operations for the Islamabad police team B u t r e p o r t s c i t i n g e y e w i t n e s s e s s a i d o v e r e n t h u s i a s t i c B u k h a r i w a s p o i s o n e d b y p o l i c e t e a r g a s The situation escalated when additional personnel of Lahore police and paramilitary Rangers were called in to control the disorder PTI workers, protesting against the expected arrest of their leader, became even more violent chanting slogans and throwing stones and petrol-filled bottles As a result public and private property including

Cour t upholds arrest warrant of Imran in Toshakhana c ase

ISLAMABAD s tA f f R e p o R t

Imran Khan has had another setback in his legal stand-off with the government after a request to cancel the non-bailable arrest warrant issued against the chairman of Pakistan Tehreek-e-Insaf (PTI) in the Toshakhana case was rejected

The verdict was announced by Additional District and Sessions Judge Zafar Iqbal after the hearing of the Election Commission of Pakistan (ECP) reference which seeks to initiate criminal proceedings against the former prime minister for withholding information about foreign gifts

The judge ruled that the warrants could not be cancelled on the basis of an undertaking promising to ensure his appearance in court on charges of misusing his office to sell state gifts

Earlier in the day, Judge Iqbal had offered to prevent the police from arresting Khan in the case if he surrendered in court

The case centres on a government department known as Toshakhana which during the Mughal era referred to the treasure houses kept by the subcontinent’s princely rulers to store and display gifts lavished on them Government officials must declare all gifts to the Cabinet Division but are allowed to keep those below a certain value

More expensive items must go to Toshakhana under the administrative control of the Cabinet Division but in some cases the recipient can buy them back at around 50 percent of theirvalue a discount Khan raised from 20 percent while in office

The ruling coalition of the Pakistan Democratic Movement (PDM) parties has for months alleged Khan and his wife, Bushra Maneka, received lavish gifts worth millions during trips abroad They included luxury watches, jewellery, designer handbags and perfumes

The sessions court had initially planned to indict Khan in the reference on February 28 but his lawyer requested an exemption from the hearing citing his client s need to appear in several other courts Khan s indictment was repeatedly deferred following this Subsequently the judge issued nonbailable arrest warrants for Khan and instructed the police to present him in court by March 7 However Khan managed to evade arrest and approached the Islamabad High Court (IHC) to request the cancellation of the warrants

During the hearing, Judge Iqbal asked whether the election commission should be notified of the case’s maintainability The judge also expressed his dismay about Khan’s absence from the court and inquired about the concept of an undertaking

Militar y denies drone attack af ter two children killed in S outh Waziristan offensive

ISLAMABAD t h e A s s o c i At e d p R e s s

The army attacked a militant hideout near the Afghanistan border Wednesday, prompting a shootout that killed eight of the insurgents and two children and wounded two soldiers, the InterServices Public Relations (ISPR) said

It was unclear whose fire killed the two children

during the raid on the outpost in South Waziristan a district in Khyber Pakhtunkhwa Manzoor Pashteen the leader of the Pashtun Tahafuz Movement (PTM) a group advocating for Pashtun rights in Khyber Pakhtunkhwa alleged that the children were killed in a drone attack a claim which the military refuted Anchorperson Ameer Abbas confirmed the deaths as a result of a drone attack , citing local sources He tweeted: Deaths are confirmed [by the ISPR] whereas drone attack isn t

police vans water cannons and browser vehicles were destroyed and burnt and staff members were injured The charges against Khan and other PTI leaders and workers have serious implications for their political future and the stability of the region Khan has been charged under multiple sections of the Pakistan Penal Code (PPC) and the AntiTerrorism Act 1997 The charges include punishment for abetment, criminal conspiracy, rioting, armed rioting, obstructing public servants, and attempting to commit murder

Provisions for the case against Khan also include charges of criminal intimidation causing a public nuisance and mischief by fire or explosive substance with the intent to destroy property

china-Pakistan joint exhibition begins at Palace museum in Beijing

BEIJING Ag

A China-Pakistan joint exhibition on Gandhara culture & art kicked off here at the Palace Museum, which will showcase the cultural heritage of Gandhara, an ancient region Hu Heping, Minister of China s Ministry of Culture and Tourism (MCT), inaugurated the exhibition titled Gandhara Heritage along the Silk Road The exhibition will remain open up to June 15, according to China Economic Net (CEN) At the occasion Fareena Mazhar Federal Secretary Ministry of National Heritage & Culture Division Pakistan said that Pakistan is a unique country whose strategic location has given it importance not only in the past but also in the present era and it will continue to enjoy the same status for all the time to come Its location makes it a veritable gateway between the East and the West and enhances its geopolitical pre-eminence “Over 170 masterpieces were brought from seven museums of Pakistan,” she told China Economic Net “I wish this endeavor of the Palace Museum a very fruitful event and it will be beneficial not only to the general visitors but also to Chinese scholars and professionals to understand the cultural heritage of Pakistan The exhibition will be a landmark in cooperation between China and Pakistan and will open new vistas of cooperation for further cementing our relations and joint endeavors, she added She further said that the exhibition will help promote the shared heritage at the international level and establish contacts at the grassroots level adding that cultural relations between Pakistan and China are the need of the hour to broaden the basis of the two countries friendship and enhance the people-to-people relationship Pakistani Ambassador to China Moinul Haque said that this exhibition will provide a unique opportunity for the people of China to understand and admire Gandhara heritage He further said that both countries with very rich traditions in cultural heritage and history have vast potential to widen the foundations of their lasting friendship

Microsoft unveils AI for its office suite in increased competition with Google

– to any person able to describe a calculation they would like in plain text Microsoft also showcased how its AI can summarize email threads and even virtual meetings as they occur live in its Teams collaboration software

Argentina considering proc urement of JF-17 fighter jets

canaDa high commission introDUces amBassaDor for a Day to celeBrate Women’s Day

ISLAMABAD

s tA f f R e p o R t

tO celebrate International Women s Day 2023 the High Commission of Canada in Pakistan hosted its firstever Ambassador for the Day on March 15 This initiative aimed to provide the opportunity for a young Pakistani woman to step into the shoes of a Canadian diplomat and experience the dayto-day responsibilities of this important role

The Ambassador for the Day had the chance to meet with Canadian diplomats engage with international donor agencies and foreign and Pakistani officials and participate in a range of activities that gave her unique insights into the workings of a

diplomatic mission She also joined in various meetings with the High Commissioner where she had the opportunity to ask in-depth questions and meet the changemakers who are working to create positive change in Pakistan

We are thrilled to launch the Ambassador for a Day event and to provide a unique opportunity for a young woman to experience the world of diplomacy firsthand,” said the High Commissioner of Canada to the Islamic Republic of Pakistan

Her Excellency Leslie Scanlon

“Canada has a long and proud tradition of supporting gender equality and women s empowerment Guided by Canada s feminist foreign policy we are advancing and investing in a suite of feminist policies programs and

canal tragedy: rescuers fish out all 18 bodies of devotees

DERA GHAZI KHAN s tA f f R e p o R t

The divers of Rescue 1122 on Thursday culminated its operation with fishing out of all 18 bodies of devotees drowned after a tractor-trolley plunged into DG Canal at Basiti Bhanda near Choti Zareen last Friday According to Asad Mustafa, the spokesperson for Rescue 1122, the rescuers recovered bodies of Ruqqia 40 five-year-old Wafadar and three-month-old Abdullah on Thursday taking the number of recovered bodies from the canal to 18 He informed that the operation was completed on seventh day of the tragedy in which 18 devotees who were travelling to Sakhi Sarwat to attend a fair had drowned after the tractor-trolley they were travelling in skidded of road and plunged into the canal According to initial investigation, speeding and failure of brakes of the vehicle resulted in the tragedy The report added that the driver lost control of the tractor-trolley at a speed-breaker on the road due to which it skidded off the road and plunged into the canal

British council doubles number of scholarships for Pakistani students

ISLAMABAD

International Development Minister for the Scottish Government Neil Gray has announced to double the amount of scholarships for the Scotland Pakistan Scholarship Scheme for Young Women and Girls administered through the British Council The £500,000 additional funding will double the number of school and university scholarships available to women and girls in the worst flood-affected areas ensuring they can continue their education with minimal disruption said a news release of the embassy issued here on Thursday Launched in late 2013, the Scotland Pakistan Scholarship Scheme for Young Women and Girls’ aims to make education at the higher education and secondary level more accessible to underprivileged girls across Pakistan by providing them with scholarships The scheme funds graduate studies for Pakistani women in any HECrecognized university across Pakistan This scholarship is also offered to young girls at the secondary level (grades 8-12) providing underprivileged school-going girls at secondary level with scholarships, ensuring that their education is not hindered due to financial constraints – an issue that is faced by the majority of girls in Pakistan At the higher education level the scheme provides scholarships in the fields of education sustainable energy agriculture and food security, health sciences and STEM education (only applicable at Master s) The International Development Minister Neil Gray said: “We know that during a crisis, such as we have seen in Pakistan the impacts can too often affect women and girls We hope by doubling the number of school and university scholarships available this funding for British Council Pakistan will ensure more women and girls can study and help bolster the country s long term economic recovery Country Director British Council Pakistan Amir Ramzan said: “Since its launch in 2013, these scholarships have allowed talented women and girls from disadvantaged backgrounds to complete their secondary education and pursue bachelors

initiatives that promote women s socioeconomic empowerment, encourage gender equity in climate change mitigation, and empower communities to address gender norms Through this initiative, we hope to encourage and inspire young girls and women in Pakistan to pursue their dreams and show

them that they can make a difference

This year s Ambassador for a Day is Nida Khan a young and ambitious student from Chitral who will be joining us at the High Commission Nida aspires to become a diplomat one day, and represent Pakistan

As a passionate advocate for women s rights and inclusion, especially in sports, Nida hopes to learn more about the role of diplomacy in addressing these crucial issues We are confident that Nida will bring fresh perspectives and ideas to the table and we look forward to a fruitful and engaging day with her ” noted Her Excellency Leslie Scanlon Nida was also given the opportunity to manage Canadian High Commissioner s Twitter account for the day sharing her unique

PPP to form govt in Balochistan after winning next general elections: NA Speaker

ISLAMABAD s tA f f R e p o R t

Speaker National Assembly Raja Pervaiz Ashraf here on Thursday said that Pakistan Peoples Party (PPP) would form i t s g o v e r n m e n t i n B a l o c h i s t a n province after winning the next general elections

Ta l k i n g t o a d e l e g a t i o n o f P P P B a l o c h i s t a n , t h e S p e a k e r s a i d t h a t P r e s i d e n t P P P B a l o c h i s t a n chapter Mir Changez Khan Jamali would lead the Party in the province He also assured that the PPP g o v e r n m e n t w o u l d p r i o r i t i z e t h e p r o s p e r i t y o f B a l o c h i s t a n i n l i n e w i t h t h e v i s i o n o f C h a i r m a n

Bilawal and former President Asif Ali Zardari

T h e S p e a k e r e x p r e s s e d t h e h o p e t h a t t h e P a k i s t a n P e o p l e s P a r t y ( P P P ) i n B a l o c h i s t a n w o u l d b e r e a c t i v a t e d a n d t h e p e o p l e o f

B a l o c h i s t a n h a v e g r e a t r e g a r d f o r t h e P a r t y s Chairman Bilawal Bhutto Zardari Ashraf praised

B i l a w a l f o r h i s s i g n i f i c a n t r o l e a t b o t h r e g i o n a l and international diplomatic levels

A s h r a f a l s o h i g h l i g h t e d t h e n e e d f o r s t r o n g leadership to lead the country out of political and e c o n o m i c t u r m o i l H e e x p r e s s e d t h e c o n f i d e n c e t h a t t h e P P P ’s s p e c i a l c o m m i t t e e , h e a d e d b y h i m s e l f w a s w o r k i n g e x c e l l e n t l y t o r e s o l v e t h e issues of Balochistan on a priority basis

B a l o c h i s t a n b e i n g a n i m p o r t a n t p r o v i n c e o f Pakistan is faced with numerous challenges that require immediate attention However through the v i s i o n o f P P P s l e a d e r s h i p t h e p r o v i n c e w i l l

w i t n e s s p r o g r e s s a n d d e v e l o p m e n t i n t h e n e a r future the Speaker said T h e S p e a k e r N a t i o n a l A s s e m b l y e m p h a s i z e d t h a t t h e P P P w a s a p a r t y o f t h e f e d e r a t i o n r e p r e s e n t i n g n o t o n l y B a l o c h i s t a n b u t a l s o A z a d J a m m u a n d K a s h m i r a n d G i l g i t - B a l t i s t a n H e highlighted that PPP being a party of the middle class enjoys the support of a vast majority of the people S p e a k i n g o n t h e o c c a s i o n , t h e P a r t y s p r o v i n c i a l c h i e f M i r C h a n g e z K h a n J a m a l i e x p r e s s e d h i s s u p p o r t f o r t h e S p e a k e r s e ff o r t s , lauding the PPP’s active role in Balochistan He also acknowledged the strong affiliation that the people of Balochistan have with PPP

T h e d e l e g a t i o n w h i c h i n c l u d e d Q a s i m

Achakzai Imran Bangalzai Mir Khalid Jogaizai a n d G h u l a m A l i J a m a l i p r a i s e d t h e S p e a k e r s impartiality while conducting proceedings of the Lower House of the Parliament and making record legislation during his tenure They also expressed their hope that the special committee headed by the Speaker NA would play an important role in giving rights to Balochistan

H e s a i d t h e P P P l e a d e r s h i p , i n c l u d i n g

C h a i r p e r s o n B e n a z i r B h u t t o S h a h e e d a n d

C h a i r m a n A s i f A l i Z a r d a r i , h a v e a l w a y s e m p h a s i z e d t h e i m p o r t a n c e o f t h e r i g h t s o f

B a l o c h i s t a n Wi t h t h e s u p p o r t o f t h e p e o p l e a n d s t r o n g l e a d e r s h i p , t h e P P P i s p o i s e d t o b r i n g positive change to the province

NEPRA reser ves judgment on govt ’s request to raise power surcharge

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Is it a right act that the ministry is controlling the power sector Chairman NEPRA questioned In the current situation the tariff of the industrial sector will reach Rs 50 per unit Tanveer Bari, representative of Karachi Chamber of Commerce and Industry said Bari further added that the Karachi Chamber of Commerce and Industry rejected the request for a power surcharge increase Power division officials trying to respond to these concerns stated that the government was facing problems in paying

cover the additional markup charges of PHL loans not covered through the already applicable FC

In view thereof the Authority (NEPRA) has decided to allow the application of the surcharge to be recovered from different categories of consumers of K-Electric for the period from March to June 2023 and for FY 2023-24 to cover the markup charges of PHL loans

The Power Division said that the additional surcharge is intended to cover the markup charges of PHL loans not covered through the already applicable FC (financing cost) surcharge of Rs 0 43/unit It was also explained that with these additional surcharges, an additional amount of Rs 75 billion will be billed for the period from March to June 2023, against which around Rs 68 billion will be recovered at an expected recovery rate of 90%

Similarly for FY 2023-24 with the additional surcharge of Rs 1 per unit an amount of around Rs 74 billion will be recovered assuming a recovery rate of 90%

experiences with the public in line with the Government of Canada s theme for this year s International Women s Day Every Woman Counts

The theme is a reminder that all women from all ages and walks of life have a place in every aspect of a society, including the economic, social and democratic spheres Gender equality, inclusion, and the promotion and protection of human rights are key Canadian values, which the Government of Canada is committed to promoting through its bilateral international development initiatives

The Ambassador for a Day event is a part of the High Commission’s ongoing efforts to engage with local partners and communities to achieve the overarching goal of nurturing inclusion equitable access and equal opportunity

What’s happening at credit suisse swiss bank that had at least 1,400 Pakistani accounts

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The bank s woes include the collapse of Greensill, costing the bank around $10 billion and leading to fines and remedial measures from Swiss financial regulator Finma Credit Suisse also lost more than $5 billion from the implosion of US hedge fund Archegos, and was fined $475 million for involvement in a bribery scandal in Mozambique In addition former Chairman Antonio Horta-Osorio resigned after violating Switzerland’s Covid quarantine rules and a media investigation alleged that the bank held billions of dollars in dirty money for decades Credit Suisse was also fined in a money laundering case linked to a Bulgarian cocaine network and has settled old disputes in the US and France The bank was forced to postpone its annual report and acknowledged material weaknesses in its internal controls Market panic ensued after comments from Credit Suisse s main shareholder that it would not invest more money in the bank

Previously a leak from Credit Suisse had exposed the hidden wealth of major clients, including hundreds of Pakistanis, according to media reports The leaked data revealed that the bank catered to criminals dictators intelligence officials and political actors with outsized wealth

Compliance experts said many of these customers should not have been allowed to bank at Credit Suisse

The leak identified $8 billion in potentially problematic assets 1 400 Pakistani citizens were linked to around 600 Credit Suisse accounts The head of Pakistan s intelligence agency was listed as holding amounts worth millions of dollars in Credit Suisse accounts

china’s eastern province to relocate industries to Pakistan

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The minister later assured full support of the Pakistani government to the Chinese Companies to enhance export volume of the country

The relocation of Chinese industry to Pakistan has been in discussion since the launch of the multibillion dollar China Pakistan Economic Corridor (CPEC) program However Pakistan has so far failed to woo Chinese industries as many have gone to Cambodia, Laos and even Ethiopia, though their cost of labor is higher than the cost in Pakistan and their markets are far smaller in terms of population, as per Pakistan Business Council’s study But this time Pakistan is more likely to seize the opportunity given the impact it will create on the exisitng foreign reserves The study also reveals that Beijing is shifting its industrial units beyond borders to remove the “Made in China” label from many products to win back US markets

of an additional Rs 3 39 per unit the total surcharge becomes Rs 3 82 per unit for the four months of 2022-23 having an impact of Rs 75 billion

For FY 2023-24 the additional surcharge of Rs 3 39 per unit will be reduced to Rs 1 per unit to

Default watch: C hinese bank may refinance $500m as D ar interrogated in S enate

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That s the only delay, the finance minister told the Senate D a r w a s r e s p o n d i n g t o q u e r i e s raised by Pakistan Peoples Party (PPP) S e n a t o r R a z a R a b b a n i p e r t a i n i n g t o the delay in agreement with the IMF “ T h e m o m e n t t h e s t a ff - l e v e l agreement (SLA) and Memorandum of E c o n o m i c a n d F i n a n c i a l P o l i c i e s (MEFP) [of IMF] will be finalised it w i l l b e p u t o n t h e w e b s i t e o f t h e

Ministry of Finance Dar said

The State Bank of Pakistan (SBP) received $500 million last week from the Industrial and Commercial Bank of China (ICBC) just days after it had received $700 million from the China Development Bank The upcoming refinanced loan of $500 million would bring the total of commercial loans to $1 7 billion out of the total committed amount of $2 billion Now Pakistani authorities are anxiously waiting for confirmation from

other ally countries like Saudi Arabia, UAE, and Qatar, as well as from the World Bank and the Asian Infrastructure Investment Bank, for fulfilling the external financing needs of $6 billion until the end of June 2023 I M F B a I l o u t Pakistan and the IMF have been negotiating the resumption of an installed $7bn IMF programme for months now but are yet to reach an agreement The country had been able to secure the last tranche of $1 17 billion back in August 2022 under the leadership of former finance minister Miftah Ismail The disbursement had been achieved by ending a massive fuel subsidy introduced by former prime minister Imran Khan and by agreeing to other terms of the IMF The state bank at the time had more than $8 billion in foreign reserves

In September 2022 however Ishaq Dar took charge of the finance ministry and further negotiations with the IMF took a different turn Dar who during a

According to sources if the government imposes Rs 3 23/unit surcharge then electricity consumers across the country will face an additional burden of approximately Rs 335 billion in 2023-24 It is pertinent to mention that NEPRA will issue its detailed judgment after scrutiny of the data and this surcharge will be applicable on the power customers of the K-Electric

conditions

In the meantime the government has been trying to receive loans from friendly countries to try and shore up forex reserves and avoid default Pakistan has previously received a $700m loan from China to help in this regard

Despite changing patterns, cash remains biggest competition for contactless payments in Pakistan: sur vey

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In 2021 Pakistan’s Safepay was among the winners of Visa’s Everywhere Initiative (VEI) program These fintechs have the potential to make a significant impact and financial institutions and banks are incentivizing customers to use digital payments

It has also partnered with banks merchants and processors in Pakistan to strengthen its market share

television interview said he knew how to deal with the IMF since he had been doing it for decades, decided to artificially keep the price of the rupee high However, this strategy failed within a few months and by January 2023 Pakistan was staring down the possibility of default The country began facing a shortage of forex reserves that has led to a curb of imports and skyrocketing inflation

Since then Dar has been trying to keep his chin-up and convince the nation that we are out of the water negotiations with the IMF have not been so simple The IMF team left Pakistan on the 9th of February without signing a staff level agreement, since when the government has been scrambling to meet the fund’s demands and get the vital $1 1 billion released

On February 11th the government bulldozed a mini-budget through the national assembly to placate the IMF and agreed to impose Rs 170 billion in additional taxes to meet the fund s

Pakistan had been able to secure the last tranche of $1 17 billion back in August 2022 after the IMF approved the seventh and eighth reviews of the package The state bank at the time had more than $8 billion in foreign reserves but the agreements could not bring about macroeconomic stability The ninth review is facing major roadblocks due to non fulfillment of conditions specifically in the energy sector untargeted subsidies and pegging the foreign exchange at a lower rate than the market The cash-strapped nation felt an added pressure due to devastating floods that caused a damage of $30 billion

During this time foreign exchange reserves have dropped from $8 billion to a dangerously low of less than $3 billion However subsidies such as the Kissan package have also been slashed and the government has been trying to make concessions to receive the longoverdue tranche

UBL became the first bank to sign the Visa Ready BIN Sponsorship program agreement, enabling fintech clients to issue Visa card credentials HBL and Visa launched a mobile Point of Sales (mPOS) and QR Payments solution, JS Bank and Visa rolled-out a loyalty cashback service for cardholders, and Bank Alfalah launched Visa Corporate Credit Card Visa’s collaboration with Daraz University has also launched a ‘Practical Business Skills’ program to help small and micro-business owners make informed decisions to grow their businesses Overall Visa s partnerships and strategic initiatives have helped strengthen its market share and drive digitization in Pakistan

WH E R E Prime Minister shehbaz sharif has said that there must be talks among political forces on the economy and on elections which he said to the CPnE delegation which called on him on Wednesday, Pti chief imran Khan responded indirectly but positively in a tweet on thursday, saying that he was willing to talk to anyone in the interest of the country Mr Khan did not indulge in his usual knee-jerk reaction of calling opposition politicians thives and dacoits He also did not indicate that he was going to lay any of the preconditions that have sunk previous attempts at talks, such as the holding of elections on a given date He also did not indicate that freedom from arrest was being sought, even as he had spent the previous three days holed up in his residence in lahore s Zaman Park, outside which his followers engaged in pitched battles with the police, to prevent Mr Khan s arrest so that he could be produced before an islamabad sessions court

Prime Minister sharif did indicate that Mr Khan would have to obey the court s order and appear before it, when he said that PMl(n) leaders had appeared in court even though the charges against them were politically motivated However, what he did not mention was that if talks are held in right earnest, they would not be possible if Mr Khan was held in prison the cases against him all involve prosecutions by the federal government there is enough leeway in the criminal justice system for the prosecution to make the running there are greater obstacles than this however Mr Khan will have to guard against those who might press for a hardline refusal to talk to the corrupt (even though when in government he failed to make any charge stick in court)

Another danger comes from those forces which supported Mr Khan when he was in office and which are accused of supporting him even now it is a fact that the establishment enjoys power because of a lack of unity among politicians and any dialogue among them which excluded the establishment would leave those politicians able to exclude the establishment Mr Khan had taken this refusal to dialogue to new heights and had even tried to sidestep the Constitution whenever it assumed the government and opposition would maintain minimal relations Mr Khan needs to watch for extremists and keep in mind that they might have interests other than his own to promote

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late)

Founding Editor

Yousaf Nizami Editor

M A Niazi Joint Editor Umar Aziz Executive Editor

BE C A u s E Pakistan was roiling with political and economic crises of its own, it missed what has been one of the epochal moments in the region the rapprochement of saudi Arabia and iran Earth-shaking enough as that may be, even more significant, especially for Pakistan was who brokered the deal: China is that a moment of transition? Depending on how matters develop, this could be seen as the moment when the baton as the world’s leading superpower passed from the usA to China it is interesting that China took such a prominent role in the announcement, with its Foreign Minister taking the place hitherto normally reserved for the us secretary of state

More interesting is why saudi Arabia was willing to use Chinese good offices in this deal with iran saudi Arabia does not normally even act without a us go-ahead However it should be noted that the usA and saudi Arabia have been drifting apart this was symbolized by the recent saudi refusal to increase production to bring down oil prices, and thus bring back some of the us inflation so damaging to us President Joe Biden which was reflected in his party s loss of control of the us House of Representatives in last year ’s election Ever since the famous meeting in 1943 between us President Franklin Roosevelt and saudi King ibn saud saudi Arabia has not only guaranteed the us oil supply but has been the usA’s best ally in the Middle East except for israel

Another strain on the relationship is China the usA and China are engaged in a trade war, which is actually a manifestation of the greater rivalry over which country is to lead the world After the fall of the ussR it seems the aim is to become the sole superpower saudi Arabia should side with the usA, but China is its biggest customer However, as the rest are the usA and us allies (india Japan and south Korea) it must be counted as being in the us camp

China is also iran s biggest customer However, iran is under us sanctions and is also a fierce opponent of israel indeed one of the areas for a us-iran clash has been the strait of Hormuz, with iran engaging in one attack on a saudi oil refinery, as well s on its oil tankers iran is more firmly in the Chinese camp it recently signed a multidimensional cooperation deal that includes military matters and the development of Chabahar port it has sided with Russia against ukraine in alliance with China there are two major differences between saudi Arabia and iran to the point where they may be said to be at opposite ends of the spectrum the first is that the saudis are proponents of sunni islam, and though not of any of the four traditional schools, their Wahhabi strain has found acceptance among sunnis On the other hand iran is shia but that does not indicate the school the population follows, but the direction of the state iran is attempting the implementation of

as a tool to incite violence and discrimination against the Muslim-minority Rohingya population Despite efforts to combat anti-Muslim content through education and advocacy the problem remains widespread and continues to affect Muslim communities around the world in contemporary times there are several states and regions where anti-Muslim content is prevalent the severity and extent of this content can vary depending on political, social, and cultural factors Here are a few examples:

the wilayat faqih, the concept of how to rule before the coming of the imam it should be noted that the saudis have not adopted the title of Caliph, which is the wilayat faqih sunni equivalent (the shia do not oppose the Caliphate as such with Ali ibn talib a Rightly Guided Caliph even of the sunnis, imam Hussain martyred at Karbala because he opposed the accession as Caliph of Yazid and then the establishment of the Fatimid Caliphate in Egypt they have a different view of it ) the Arab-Persian rivalry is ancient, probably dating back to the pre-islamic era, but the conquest of Persia by the Arabs recently converted to islam seems to have started the modern rivalry it has been quite intense there was the removal of the Bani umayya by the Bani Abbas Apparently an intra-Qureshi struggle the Bani Abbas had mainly Persian forces the building of a new capital, Baghdad, and its shifting from the Mediterranean city of Damascus, was symbolic of the greater importance of Persia Another symbol is the Arab use of the word Ajami, originally limited to Persians, to mean any foreigner the fall of the Abbasids from real power saw the rise of the Bani Buwaih, a Persian dynasty ultimately most recently, the Ottoman-safavi rivalry, which saw turkey pitted against Persia manifested this sectarian rivalry Both dynasties were turk, but the Ottomans were sunni and the Qajar shia the Ottomans became leaders of the sunni world by being Caliphs When the Caliphate was abolished, the saudi Kings became leaders of the Muslim world by virtue of their oil wealth and being the Khadimul Harmain Ash-Sharifain this allowed a step towards its domination of the OiC, to the extent that it is now just a tool of saudi foreign policy

it is soft to the extent that it has conveyed conditions for recognition like a civilian nuclear deal and fewer restrictions on arms sales However there is no indication that the deal with iran is a us precondition to recognizing iran

Prince Muhammad bin Salman building up suppor t for a future when his father passes away, can be discerned

At the same time it should be noted that saudi Arabia nudged the Abraham Accord countries towards China, as they are both members of the Gulf Cooperation Council with Chinese President Xi Jinping meeting a GCC summit at the end of his recent visit to saudi Arabia China, after all, is the Gulf s biggest customer the saudi nuclear deal has sent alarm bells ringing in Washington especially because of its difficulties with iran over its nuclear programme though netanyahu does want recognition, he cannot restrain the rightwing elements of his coalition, who have sparked an increase against Palestinians recently saudi Arabia may not be able to recognize israel because of that Pakistan can only welcome the iran-saudi deal mainly because it might see an ebbing of the sectarian conflict it is experiencing As sectarian activists are influential in the tehrik taliban Pakistan, it is all the more welcome because of the recent upsurge in terrorism that it has experienced it will also be happy to see that some of its most important relationships are coming together China is an old ally, and saudi Arabia is not just tied to it because of Pakistani expatriates, but an important helper in times of need Pakistan would also look to saudi Arabia to invest in Gwadar, which has become likelier now that saudi Arabia is drawing away from the usA

Even now saudi Arabia and iran are jockeying for position all over the Middle East syria, iraq, lebanon and Yemen representarenas of conflict, with the last having seen 500 000 killed

Another big difference is the attitude towards israel iran is fervently still opposed, and while saudi Arabia does not recognise it, it has played a major role in getting recognisers like israel and Jordan a revival of their Arab league membership, which was suspended saudi Arabia also played a key role in the Abraham Accords in the uAE and Bahrain recognizing israel as well as in Morocco s later recognition

While it is unlikely to do any recognising soon, it is definitely ‘soft’ on israel

After three centuries of rivalry, the Ottomans and the Qajars (who had by then supplanted the safavis) finally signed the treaty of Erzerum which brought peace, in 1823, after the turks had lost the Battle of Erzerum in 1821 that was also a diplomatic revolution’ as the Ottomans and Persians did not fight one another again However geography is an unforgiving master, and the sectarian divide crossed over into post-Ottoman, post-Qajar times, and saudi Arabia and iran squared off especially as both grew immensely rich from oil

Hopefully, this peace will last, but it is likelier than not that the Arab-iranian rivalry will resume in the future At moment there have been no confidence-building measures, though the pattern of Crown Prince Muhammad bin salman building up support for a future when his father passes away can be discerned

The writer is a member of staff

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

A critical mind is a blessing indeed

A s a passionate educator i am often surprised pleasantly i must add by our own school-going eight-year-old child who every now and then keeps throwing at us his innocent queries regarding the value of education and how and why it promotes or is at least supposed to promote tolerance and understanding

Especially interesting are his questions about our sociocultural and even religious differences the ‘why’ and ‘how’ and ‘for what’ in such questions keep us his parents on our toes We attach much importance to his school homework and class performance but he surprises us by striking up a conversation about the need for environmental conservation

An t i-M u s l i M content refers to any form of communication, media, or discourse that promotes negative stereotypes prejudices or discrimination against Muslims or islamic beliefs and practices this type of content can take various forms including hate speech derogatory comments false information and discriminatory policies Anti-Muslim content is often associated with islamophobia, a term used to describe an irrational fear or hatred towards islam and its followers this type of content can have serious consequences, including inciting violence, promoting social exclusion, and perpetuating systemic discrimination against Muslims

Anti-Muslim content has a long history that spans several centuries, dating back to the time of the Crusades in the 11th century During this period European Christian armies waged a series of military campaigns against Muslim territories in the Middle East, and these conflicts fueled negative stereotypes and prejudices toward Muslims that continue to this day in the modern era, the rise of islamophobia can be traced back to the 20th century, particularly after the iranian Revolution of 1979 and the events of 11 september 2001 Following the attacks on the World trade Center, there was a sharp increase in anti-Muslim sentiment in the usA and other Western countries with Muslims often depicted as terrorists or extremists in popular media the use of social media platforms has also contributed to the spread of anti-Muslim content in recent years, with far-right groups and individuals sharing false information and hateful rhetoric with their followers this has led to a rise in hate crimes against Muslims in many countries, including the usA and Europe Governments have also been accused of promoting anti-Muslim content through policies such as the War on terror, which has been criticized for targeting Muslim-majority countries and perpetuating negative stereotypes of Muslims in some countries such as Myanmar the government has used anti-Muslim content

I n d I a : in recent years india has seen a s u rg e i n a n t i - M u s l i m c o n t e n t a n d v i o l e n c e , particularly under the Hindu nationalist gove r n m e n t l e d b y P r i m e M i n i s t e r n a r e n d r a Modi this has included mob attacks on Muslims and the spread of false information on soc i a l m e d i a p l a t f o r m s t h e c o n t r o v e r s i a l Citizenship Amendment Act passed in 2019 h a s a l s o b e e n c r i t i c i z e d f o r d i s c r i m i n a t i n g against Muslim refugees

T h e U S a: the usA has a long history of islamophobia but the problem has been exacerbated in recent years by the rise of far-right groups and political leaders who promote antiMuslim sentiment this has included attempts to ban Muslims from entering the country, as well as the spread of false information and conspiracy theories about islam and Muslims

e U r o p e: islamophobia is also a growing problem in several European countries, with far-right parties and politicians often stoking anti-Muslim sentiment for political gain Countries such as France Germany and the netherlands have seen a rise in hate crimes against Muslims, and there have been controversies over policies such as the ban on burqas and other islamic veils

M ya n M a r: the Rohingya Muslim minority in Myanmar has faced decades of discrimination and persecution fueled in part by

anti-Muslim content spread by the government and Buddhist nationalist groups the military coup in 2021 has also led to renewed violence against the Rohingya population these are just a few examples of states where anti-Muslim content is prevalent, but the problem exists in many other parts of the world as well there are several ways in which the Muslim world can counter anti-Muslim content and agenda:

e d U c aT I o n : Education is one of the most powerful tools for countering ignorance and misinformation Muslim communities can work to educate people about islamic beliefs and practices as well as promote understanding and dialogue between different communities

S o c I a l M e d I a a c T I v I S M : social media platforms have become an important battleground for the spread of anti-Muslim content Muslim activists can use these platforms to challenge false information and promote positive messages about islam and Muslims

polITIcal engageMenT: Muslims can engage in the political process to advocate for policies that promote equality and justice for all this includes voting running for office and engaging with elected officials to raise awareness about issues affecting the Muslim community

I n T e r fa I T h d I a l o g U e : interfaith dialogue can help build bridges between different communities and promote understanding and tolerance Muslim leaders can work with leaders of other faiths to foster positive relationships and promote shared values l e g a l a c T I o n : in some cases legal action may be necessary to combat hate speech and discrimination Muslim organizations can work with legal experts to challenge discriminatory policies and practices and hold individuals and organizations accountable for spreading anti-Muslim content these are the ways in which the Muslim world can counter anti-Muslim content and agenda it is important to approach this issue with a multifaceted and nuanced approach that takes into account the political social and cultural factors that contribute to the problem

We explain to him in simple words why every parent wants to give the best education to their children which is not confined to the textbooks alone; education goes much beyond that there is a reason why parents focus on extracurricular activities and value education as a holistic process rather than being academics alone More than his questions it is the pace frequency and intensity of his questions that leave us gasping for breath But we continue to encourage his attitude to the extent that we can today, when there is a huge crisis of moral values around us, in a society where degradation of merit and endurance is rampant this budding mind is a whiff of fresh air for us

My heart goes out to those who are deprived of this most essential part of growing up in a child’s life A character-building moment that many parents cannot provide to their children owing to a variety of reasons nelson Mandela rightly said that education is the most powerful weapon through which you can change the world We have a child with potential and curiosity and we try to nurture his instincts We the parents truly believe that value education at a tender age has the power to change the world Parents who accompany their children to and from schools may use the drive to talk about various things rather than simply keeping the conversation limited to whether or not the home assignments have been completed Most of the interesting conversations with our child actually take place during that very drive try it if you will NIDA CHINOY KARACHI

SIBA affairs

t H E s u k k u r i B A t e s t i n g s e r v i c e ( s i B A ) i s o n e o f t h e m a j o r p l a t f o r m s t o q u a l i f y f o r t h e y o u t h s o f s i n d h i n o r d e r t o g a i n t h e i r d e s i r e d j o b s a f t e r p a s s i n g t e s t s c o n d u c t e d f o r d i ff e r e n t c a d r e B u t , u n f o r t u n a t e l y, t h e t e s t i n g s e r v i c e h a s b e c o m e c o n t r o v e r s i a l i n t h e l a s t f e w m o n t h s a s t e s t s a r e h e l d w i t h d e l a y s a n d t h e f i n a l r e s u l t s a r e o f t e n n o t u p l o a d e d o n t h e w e b p o r t a l

Recently, on the instructions of the sindh High Court (sHC), the testing service conducted test for General Administration and Coordination in sindh government for grade 5-15 in the graduation category instead of announcing the results on the portal, newer positions are being advertised, which is injustice to the aspirants

Millions of rupees are collected in the form of challans from various candidates against various categories but the results are not announced on time the youths of the province have not only spent their hard-earned money on applying for jobs, they have also become overage owing to waiting for these jobs and are still waiting for result of the test in the hope of getting employed the sHC should also have instructed the administration to give relaxation in age limit Besides candidates for intermediate and matriculation categories are still waiting for the tests to be conducted Most such candidates are once again in doubt about whether or not the test will actually be taken Will their studies and preparation be fruitful or once again it will be only a way of earning money in the shape of collecting fee challans worth millions?

Hopefully, this peace will last, but it is likelier than not that the Arab-Iranian rivalr y will resume in the future . At moment, there have been no confidencebuilding measures, though the pattern of Crown

MuhaMMad Shahzad akraM

It is impor tant to approach this issue with a multifaceted and nuanced approach that takes into account the political, social, and cultural factors that contribute to the problem

PA K i s tA n is facing the alarming issue of mismanagement and improper disposal of hazardous waste Absence of a clear policy direction and weak enforcement of legislation on ban of import of hazardous waste has escalated this issue in Pakistan to protect the public health and environment is the sole responsibility of the Government of Pakistan therefore pragmatic steps are needed to manage the menace of hazardous waste lahore has been repeatedly ranked as the top most polluted city in the world it all in all generates about 500 000 tons of waste a year causing new heights of public concern these days this problem is a stumbling block strengthening its roots in lahore the public and media did not perceive hazardous waste to be a major environmental and public health risk seriously until about 1978 till date many countries have taken steady steps and come up with significant policies to tackle this issue However despite the policies and regulations regarding solid waste management Pakistan still lacks a proper waste management infrastructure and urgently needs a waste road map to cope up with this challenge

Hazardous waste means any waste which by reason of its chemical activity is toxic explosive flammable corrosive, radioactive, poisonous, infectious or by other hazardous characteristics, causes, or is likely to cause, directly or in combination with other matters an adverse effect to human health and/or the environment there is no systematic mechanism in Pakistan for the collection and disposal of hazardous waste generated from hospital industrial transport energy mining and agriculture activities in practice, local authorities are handling and disposing of significant quantities of HW, often without any consistent procedures and sometimes with no knowledge of the serious problems they may create industrial pollution is a- major problem in Pakistan

The ticking time bomb in our midst

the minimal response of industry to hazardous waste is mainly due to the poor performance of the sector lack of information about new technologies and high investments required for changing the processes coupled with weak regulatory mechanisms industries dispose of their effluents into nearby streams rivers lakes and agricultural fields which on the one hand cause diseases and on the other degrade the overall water quality the major industries among them include inorganic and organic chemical manufacturing pesticide manufacturing textiles pharmaceutical manufacturing, tanneries, cement, electrical equipment, glass and ceramics, pulp and paper, and petroleum refining the Rules for Hospital Waste Management were prepared and notified by the then Ministry of Environment in 2005, giving detailed information and covering all aspects of safe hospital waste management in the country However, its enforcement remains a matter of concern there are no systematic approaches to medical waste treatment and disposal in the country Hospital waste is simply mixed with the municipal waste in collecting bins at roadsides and subsequently disposed of some wastes are simply buried without any appropriate measures A common practice in Pakistan is the reuse of disposable syringes People pick up used syringes from the hospital waste and sell them

Plastic waste s imports into Pakistan have shown an exponential growth in the past few years According to a study on “Plastic waste management in Pakistan: baseline report 2020 Pakistan has been importing plastic waste from different parts of the world with an average annual tonnage of around 46,000 tons Between 2012-2020, Pakistan imported plastic waste totalling $115 million in 2017-2018 alone, more than 80,000 tons of the plastic waste was imported these imported plastic scrap contains higher amounts of contamination residuals pest dumps germs and infections pesticides and food particles including many other hazardous chemicals and additives

the local plastic manufacturers, for instance, use imported hazardous plastic scraps and waste to produce finished plastic goods and articles these scraps are not tested for contaminants before being cleared for manufacturing this is a clear violation of the import Policy Order put in place by the Government in-addition this violates the Basel Convention, which specifies that endof-life plastic products containing contaminants and constituents that fall under hazard class 6 and 9 of the Convention are to be sent back to the country from where the plastic waste was imported Despite being a party to the Basel Convention, Pakistan is being used by many developed countries around the world as a dumping ground for their e-waste which creates environmental and health hazards According to united nations university Bonn Germany there is no inventory or exact data on e-waste generation in Pakistan; but many such items are being imported to Pakistan as secondhand products One of the studies has attempted to estimate illegal annual average import of e-waste to Pakistan of around 954,000 tons (mostly computers and related products) similarly, according to the study on “Plastic waste management in Pakistan: baseline report, 2020 , Pakistan also generates around 30 million tons of solid waste a year which has been increasing at a rate of more than 2 percent annually these types of waste and products contain significant quantities of hazardous substances which contaminate the general waste and make it all hazardous Moreover the information on the quantity of the generation of hazardous waste from other sectors in the country is deficient, because Pakistan has yet to conduct the first level generation inventory of hazardous waste in the country Hazardous waste issues cut across national boundaries due to their import and export, thus becoming a huge global pollution crisis Waste dealers and brokers shall ensure that the waste they buy and sell shall be managed in such a way that environmentally sound manage-

How Israel is affected by Saudi-Iranian rapprochement

little research they would have found that their scoop had already appeared in i24 in israel last December and the Jerusalem Post this January understandably, for israeli media, these stories were timely Prime Minister Benjamin netanyahu had just won reelection having campaigned on making saudi normalization a priority Of course as a senior saudi official told me at the time that element of netanyahu’s rhetoric was for internal israeli campaigning and consumption netanyahu also raised the issue in an interview with the saudi media outlet Al Arabiya December last year the appearance was paraded by some of netanyahu s enthusiasts as a first (wrongly since he had also given an interview to Al Arabiya in August)

and an acknowledgment that they have a well-earned reputation for never missing an opportunity to miss an opportunity

On the other hand netanyahu’s new far-right government has gone too far in oppressing and intimidating Palestinians Condemnation has come from their closest allies in Washington from members of the American Jewish community, and even from israel’s own citizens who have taken to the streets in protest israel’s actions also embarrassed signatories to the Abraham Accords (the uAE condemned israeli aggression at Al-Aqsa Mosque and Jenin refugee camp) which makes it harder for other countries to even consider taking the same route

ment is assured they shall have an understanding of proper implementation of and compliance with the Basel Convention for trans-boundary movements of hazardous waste the Federal Government shall prohibit the import of hazardous waste for disposal purposes, but for reuse, recycling recovery and processing it shall allow it in a manner which ensures the protection of human health and the environment Moreover, the Federal government shall ensure proper record and maintenance of data for import, export transit and illegal traffic of hazardous waste Prevention however will not solve all the problems associated with hazardous waste management some wastes are already, or will inevitably be, generated Hence for such waste as prevention and minimization possibilities have been exhausted then reuse, recycling, and reclamation are ways of managing hazardous waste which if properly conducted can avoid environmental hazards protect scarce natural resources and reduce the nation s reliance on raw materials and energy technical guidelines for the reuse, recycling, treatment and disposal of each kind of hazardous waste should be prepared and adopted if the options for reuse recovery or recycling are exhausted for a waste then depending on the category of that waste, possible options for chemical/biological treatment incineration or any other mode of safe and environmentally sound disposal can also be adopted An efficient hazardous waste management system must include strict measures governing the collection and storage of hazardous waste at the generator s site or at any other transfer or disposal facility Government, producers, and retailers shall coordinate and develop integrated citizen-friendly take-back systems in order to achieve effective collection and management of HW such as, household hazardous waste, expired medicines, tires, and e-waste the hazardous waste shall be properly segregated from non-hazardous waste and stored in containers, tanks, or containment buildings safe and closed containers must be kept closed and marked with the date on which hazardous waste accumulation began tanks and containers are required to be marked with the words Hazardous Waste the HW to be transported must be packaged and labeled according to its category or type the transport agency must employ and use safe and closed container for the transportation of hazardous waste

The writer is a freelance columnist

n d i s c u s s e d s i n c e t h e e r a o f D o n a l d tr u m p , w h o s e s e n i o r a d v i s e r a n d s o n - i n - l a w J a r e d K u s h n e r l e d e ff o r t s t o r e s o l v e t h e i s r a e l i - P a l e s t i n i a n c o n f l i c t A s e n i o r s a u d i o ff i c i a l c o nfirmed to Arab news that the latest leak o f t h e s e t e r m s d i d n o t c o m e f r o m t h e Kingdom which means the source was probably a senior us adviser with ties to israel or a national security role i myself heard some of these saudi conditions at a high-level briefing last year, where it was made clear that they could be discussed only AFtER a solution was found for the rights of Palestinians which has always been the first condition for saudi Arabia the context is for the Kingdom to be treated in the same way as some of the countries that have peace treaties with israel when it comes to rights and privileges issues such as the right to peaceful use of uranium joining nAtO in some capacity, and being named as a us strategic ally, could all be discussed after a

solution is

so if there s nothing new here, why am i writing about it? two reasons: first, because the pact with iran (assuming the regime in tehran sticks to it) has given the saudi relationship with israel new salience; and second, because the saudi terms themselves need to be discussed those reasons are intertwined it has been suggested that the deal with iran is harmful to possible saudi normalization with israel with the Biden administration culpable of so alienating the Kingdom that it chose the Chinese as mediators that is partly true but not wholly As i said in my last column China was chosen purely because Beijing has leverage over iran, and this has nothing to do with the relationship with America Moreover, the White House has said it was aware of the discussions and secretary of state Antony Blinken has welcomed the agreement

Of course, it can be argued that if tehran behaves itself going forward, then israel loses the important card of “the enemy of my enemy is my friend But i would argue that this card was never going to be sustainable, it relies on too many variables

What is sustainable, however, is what

saudi Arabia has long been advocating: a fair and just solution to the plight of Palestinians this country has argued for decades that it views the israeli-Palestinian conflict as a land dispute, not an ideological war unlike the iranians and their proxies we have no wish to throw

As for the other saudi conditions the way i see them is a natural result of normalizing ties with israel After all, no one has anything to fear from saudi exploitation of its uranium reserves As for joining nAtO in one capacity or another, i do believe the issue is bigger, and has to do with flip-flopping us policy On one hand American officials give repeated oral reassurances that they are committed to the security of the Kingdom but refuse to put that in writing or in a formal framework the declassification of the Houthis a s a t e r r o r i s t g r o u p a n d w i t h d r a w a l o f Patriot missile batteries while saudi c i v i l i a n s w e r e b e i n g a t t a c k e d s t i l l leave a bitter taste in the mouth of the Kingdom When the Biden White House denies saudi Arabia the means to defend itself, refuses to guarantee saudi security in writing (when it knows all too well that this is in its own interests) and negotiates with iran about everything apart from the security of its own allies, then Riyadh cannot be blamed for seeking alternatives to defend its people such as accepting the Chinese offer to mediate israel, meanwhile, is a victim of collateral damage as a result of strained saudi relations with the us, and self-inflicted wounds from its treatment of the Palestinians the good news is that despite the deal with iran there is still hope for israel to normalize ties with the Kingdom However, israel should first take a leaf out of the Old testament: “thou shalt love thy neighbor as thyself

EX

leaves people in hunger without housing or medical care, robbing them of dignity Deprivation of opportunity has no place in a world with the resources and technology that so many enjoy in abundance since its inception nearly eight decades ago, the World Bank has played a transformational role in lifting living standards in every corner of the globe But as we confront rising poverty and crisis after crisis from pandemic to conflict to the ravages of a changing climate the need for a high-performing bank is more urgent than ever the institution must now evolve to tackle challenges that its founders couldn’t imagine in the keen understanding of how these priorities intersect Climate change, pandemics and forced migration are eroding progress for the very people whom development efforts benefit the tasks ahead of us are intertwined their scale means that no institution can do it alone

We should seize this moment to convert these challenges into greater opportunities for the most vulnerable Meeting ambitious climate goals doesn’t mean sacrificing development or inclusive economic growth new technologies can help bypass the emissionsheavy pathways of the past something i recently saw in Kenya which generates the overwhelming majority of its energy from renewable sources Public-private partnerships and investments have enabled renewable energy to become cost efficient We now need to invest in developing infrastructure, agricultural productivity, food security, and expanding shipping and trucking in a resilient and sustainable manner We must particularly focus on unlocking the potential of young people, especially in the global south they deserve economic opportunities and the resulting optimism to better their lives and their countries the World Bank can, and must, play a critical role as a force multiplier in coordinating

global action its talented staff do vital, and often unsung, work every day the scale of investments required for fighting inequality and climate change and boosting productivity and growth, is in the many trillions of dollars each year the bank should build on the recommendations of the G20 Capital Adequacy Framework to stretch every dollar it has But working alone, it will fall short of what s required All multilateral development banks must work in tandem to maximise impact still more will be required the private sector, with its capital and innovation, will be key as will the partnerships that need strengthening between governments civil society and private enterprise the bank can deploy technical knowledge, policy support and financing to serve as a catalyst for mobilising the private sector to help address these challenges Managing this will require skills that i believe my background has given me in the private sector i ve led organisations spanning the globe with tens of thousands of employees and close engagement with the public sector i’ve delivered on ambitious goals that required me to transform teams to meet the demands of a constantly-changing world i ve brought together government and business to secure over $4bn in commitments to invest in economic opportunities in Central America and advised an investment fund that channelled over $800mn into emerging green technologies including in developing countries i believe that is exactly what the World Bank needs at this critical moment in time

Effectively leading the bank also requires a deep understanding of the challenges that countries and people face Right now, i m on a tour to meet with government officials, development experts civil society organisations and entrepreneurs to hear their vision for the institution s future in ivory Coast and Kenya, i had the privilege of hearing from those who have benefited from the World Bank s work Residents of Abidjan told me their lives have been transformed by an investment in expanding access to electricity Young entrepreneurs in nairobi showed me how they re benefiting from expertise and financing to launch clean tech start-ups the opportunity to lead the World Bank would be the culmination of my life’s work i grew up in india in a middle-class family i received a good education and learnt the value of hard work But too many people don’t get the opportunities i did All of the world s

deserve a chance to better their lives We must offer people and indeed countries the opportunities they need to succeed so that everyone can feel the hand of good fortune pushing them forward

Technical guidelines for the reuse, recycling, treatment and disposal of each kind of hazardous waste should be prepared and adopted

W h a t t h e W o r l d B a n k n e e d s t o d o n o w

US arreStS ChineSe t yCoon who baCked trUmp adviSor bannon

WASHINGTON

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aChinese tycoon wanted in China and closely tied to president Donald Trump’s former political advisor Steve Bannon was arrested in New York Wednesday and charged with bilking some $1 billion from supporters of his anti-Beijing activities

The US Justice Department accused Guo Wengui and still-at-large British co-conspirator Je Kin Ming of stealing funds from participants in an investment scheme so they could buy luxuries, including a yacht, a 50,000 square foot (4,645 square meter) mansion and a $3 5 million Ferrari

A court official said late Wednesday that Guo pleaded not guilty but consented to detention in an initial arrest hearing

Hours after his 6:00 am arrest at his Manhattan penthouse apartment overlooking Central Park, a fire broke out in his building,

raising suspicions the two could be linked

Guo’s arrest came nine years after the onetime property billionaire fled China in 2014 having faced charges of fraud and corruption even as he became an outspoken critic of graft inside the Chinese government

Using his Cantonese name Ho Wan Kwok

the Justice Department said Guo leveraged his prominence as a critic of Chinese leader Xi Jinping’s government while exiled in New York to build a large following of supporters online

Those supporters were encouraged to donate to, or invest in Guo-controlled non-profits and businesses including GTV Media Group of which Bannon was a director

That activity spread into other avenues to raise hundreds of millions of dollars including a luxury club the Himalaya Exchange cryptocurrency issuer, and the Himalaya Farm Alliance, which promised investors discounted shares of GTV

But the Justice Department said Guo and Je diverted funds for their own use, including

for Guo s New Jersey estate and yacht, a custom-built Bugatti sports car and two mattresses that cost $36 000 each

In 2021, US financial authorities called GTV s investment solicitation an illegal public offering and forced Guo to repay investors nearly $500 million and pay nearly $40 million in fines Since then, in successive actions, authorities have seized around $634 million in funds raised by Guo and Je and on Wednesday charged the two with multiple counts of securities fraud, wire fraud, money laundering and obstruction Fraudulent investment scams make victims out of innocent people, ultimately harming the public s confidence in the integrity of financial systems ” said FBI Assistant Director Michael Driscoll F l E d c r a c k d o w n o n b i l l i o na i r E s : Guo arrived in the United States in 2015 after fleeing a crackdown on China’s racy billionaires and corrupt officials by Xi s administration

Banned from school, Afghan girls turn to madrassas

KABUL

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In a madrassa in the Afghan capital rows of teenage girls rock back and forth reciting verses of the Quran under the watchful eye of a religious scholar

The number of religious schools has grown across Afghanistan since the Taliban returned to power in August 2021, with teenage girls increasingly attending classes after they were banned from secondary schools

“We were depressed because we were denied an education said 16-year-old Farah, a veil covering her face and hair “It’s then that my family de-

cided I should at least come here

The only open place for us now is a madrassa Instead of maths and literature the girls focus on rote-learning the Quran in Arabic a language most of them don t understand Those who want to learn the meaning of the verses study separately, where a teacher translates and explains the text in their local language AFP visited three madrassas in Kabul and in the southern city of Kandahar where scholars said the numbers of girl students have doubled since last year For Farah, her ambition of becoming a lawyer was dashed

when Taliban authorities blocked girls from secondary school and months later banned women from attending university “Everyone’s dreams are lost ” she said Still, Farah whose real name has been changed to protect her identity like other students AFP interviewed for this story counts herself lucky in that her parents allowed her to attend classes at all

E d u c at i o n d E a d l o c k:

The Taliban government adheres to an austere interpretation of Islam Rulings are passed down by the reclusive supreme leader Hibatullah Akhundzada and his inner circle of religious advisers

Last-gasp defeat motivates Sri Lanka for second New Zealand Test

WELLINGTON

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who are against education for girls and women some officials say Akhundzada has ordered hundreds of new madrassas to be built as he establishes his Islamic Emirate based on sharia Authorities in Kabul have given several excuses for the closure of girls’ schools including the need for segregated classrooms and Islamic uniforms, which were largely already in place

The government insists schools will eventually reopen Education is the main sticking point behind a deadlock with the international community which has condemned the stripping away of freedoms for women and girls

Captain Dimuth Karunaratne says Sri Lanka will use their agonising last-gasp defeat to New Zealand as motivation when the second Test starts on Friday in Wellington Kane Williamson sealed a thrilling New Zealand win by running a bye as the first Test went to the final ball in Christchurch

The hosts’ two-wicket triumph scuppered Sri Lanka’s chances of making the World Test Championship final handing the spot to India, who will face Australia

“Unfortunately we aren’t in a position to progress (to the final) but it s a two-Test series and we have to play for our pride,” Karunaratne told reporters on Thursday

I can see the boys in the dressing room still want to win this match and draw the series ” Karunaratne knows his team paid a heavy price for fielding errors in Christchurch, particularly when danger man Williamson was dropped on 33 He went on to make a match-winning century There were small things we couldn’t do well, that is the only concern, but we’re trying to correct the mistakes ” said Karunaratne

The Sri Lankan skipper says his seam bowlers can cause problems for Williamson and New Zealand’s top order

Asitha Fernando took seven wickets in the first Test

We can challenge the Kiwi top batters every time even some of their players said to me that they didn t expect that kind of bowling pressure from the Sri Lankans,” said Karunaratne

“That’s a plus point ”

The second Test is at Wellington s Basin Reserve, scene of the hosts memorable one-run win over England last month which squared that two-Test series

We had great crowds last time we were here and got people talking about Test cricket ” said captain Tim Southee whose Black Caps are chasing a third straight Test win Showers and high winds are forecast on Friday and Southee will decide his team after inspecting the green wicket

We ll have a final look in the morning as there is a bit of weather around,” he added

All-rounder Doug Bracewell has been added to the New Zealand squad as cover for Neil Wagner who is sidelined after finishing the first Test with a back and hamstring injury Southee expects Sri Lanka to put up another stern test

corporate corner

HABIBMETRO collaborates with VISA to introduce IDEMIA KARACHI: In continuation of its innovation journey HABIBMETRO in collaboration with VISA commenced its Tokenization & Digital Card programme by introducing IDEMIA as a solution provider in Pakistan This initiative was taken to further enhance HABIBMETRO customers digital payment experience and make it more secure and convenient Tokenization replaces sensitive bank account information, such as the 16-digit primary bank account number, with a unique digital identifier called a ‘token’ Tokenization allows transactions to be processed without exposing account details for a more secure digital payment experience Moreover with a Tap To Phone feature HABIBMETRO customers will be able to make contactless payments by tapping their mobile phones on devices enabled with contactless payments hence opening up a world of convenience P R ABHI onboards Naveena Group to provide AbhiSalary to 5,000 employees ISLAMABAD: ABHI, an embedded fintech company, has signed an agreement with Naveena Group and its subsidiaries to provide AbhiSalary, an Earned

salaries With

Miftah isMail cautions against any forM of debt restructuring

ISLAMABAD

N E W S D E S K

fO R m E R finance minister Dr miftah Ismail has cautioned against any kind of debt restructuring, warning that it would have far-reaching repercussions on Pakistan's economy

In an interview with Business Recorder in Karachi, Ismail, a two-time finance chief, stated that the cons of restructuring outweigh the pros He pointed out that countries like Sri Lanka that had opted to take this route had experienced a contraction in their GDP which shrank by 10% during the first year If Pakistan were to follow suit and it took 2-3 years its GDP would shrink as well Ismail believes that Pakistan s interest payments on dollar-denominated debt are low, and a majority of the loans, due to the nature of their creditors, cannot be restructured He added that commercial debt, which is not much, is the only component that can be restructured

However, restructuring this debt would lock Pakistan out of the commercial debt market which would result in Pakistan s inability to benefit from future debt These comments

$ 3 b i l l i o n o f d e b t b y J u n e , w h i l e $ 4 b i l l i o n i s e x p e c t e d t o b e r o l l e d o v e r a c c o r d i n g t o B l o o m b e rg Its foreign exchange reserves currently stand at $4 3 billion courtesy of loan inflows of $500 million from Industrial a n d C o m m e r c i a l B a n k o f C h i n a (ICBC) and $700 million from China D e v e l o p m e n t B a n k P a k i s t a n e x p e c t s another $800 million from ICBC after i t r e n e w e d i t s $ 1 3 - b i l l i o n f a c i l i t y which the country had repaid earlier H o w e v e r t h e i m p o r t c o v e r i s around one month with February s bill c o m i n g i n a t $ 4 b i l l i o n a c c o r d i n g t o d a t a a v a i l a b l e w i t h t h e P a k i s t a n B ur e a u o f S t a t i s t i c s P a k i s t a n ' s w o r r i e s a r e a l s o c o m p o u n d e d b y t h e d e l a y i n

r e v i v i n g i t s b a i l o u t p r o g r a m m e w i t h t h e I n t e r n a t i o n a l m o n e t a r y F u n d (ImF) a facility that has been stalled since November last year Ismail who was the finance minister to successfully negotiate the combined seventh and eighth reviews with the ImF before being unceremoniously r e m o v e d t o m a k e w a y f o r I s h a q D a r, s a i d P a k i s t a n h a s t h e a d d e d w o r r y o f g e t t i n g i t s c r e d i t o r s i n c l u d i n g C h i n a and Western institutions on one table He questioned how Pakistan would get China the Western countries and their institutions to sit on one table, calling i t a d i ff i c u l t t a s k I s m a i l a d d e d t h a t Pakistan is already looking to manage China versus the West Last month US State

ISLAMABAD P R

Despite a 24 3% YoY growth in overall revenues in local currency, Jazz s revenue decreased 2 6% in USD terms during the fourth quarter of 2022, mainly due to PKR devaluation, whereas the margins are hampered by an exponential increase in operational costs, including fuel, electricity, interest rate and forex

Increase in fuel and electricity prices by 71% and 53% YoY respectively was offset by a one-time effect to the reversal of a provision

KARACHI

P R

A comprehensive study The State of Pakistan s Agriculture 2023 has been launched by Pakistan Agri Coalition and Pakistan Business Council

The report paves the way for growth of agricultural sector in the country and launched in a conference named Agri Connections 2023

Speaking as a key note speaker in the conference, Former Governor State Bank Saleem Raza has said that agriculture is not performing well as its growth is mere 2 5% which should be around 6% He was speaking at ‘Agri Connections 2023’ which was organized by Pakistan Agricultural Coalition at a local hotel here on Thursday

“The only way out of the current economic cri-

ISLAMABAD

S ta f f R E P o R t

Pakistan Bureau of Statistics (PBS) has been conducting 7th Population and Housing Census digitally for the first time in the history of the country with the purpose of collecting information that will inform planning and development

The process includes option for self-enumeration, which was made available from February 20, 2023 till march 10, 2023, and field operations of house listing and enumeration commenced from 1st march, 2023 and will continue till 4th April, 2023 Conducting the census digitally ensures transparency, data driven procedures, real time monitoring of progress through geotagging using GIS systems and wider acceptability of census results

It is pertinent to mention that structures have

wallet in Pakistan reached 16 4 million monthly act i v e u s e r s a n d 1 8 6 0 0 0 a c t i v e m e r c h a n t s r e c o r d i n g 2 1 billion transactions in FY22 with a Gross Transaction Value of PKR 4 2 trillion On the other hand, s e l f - c a r e a p p J a z z Wo r l d c o n t i n u e d t o e n j o y s t r o n g customer adoption levels, with monthly active users r e a c h i n g 1 2 7 m i l l i o n

u e d t o l e a d t h e m a r k e t w i t h a n u n a b a t e d f o c u s o n driving digital inclusion while enhancing quality of services for its customers by investing over PKR 52 billion under its 4G for all ambition in FY 22 taking its overall investment in Pakistan to US$10 4 billion During the reporting period Jazz s total mobile subscriber base reached 73 7 million with 41 3 million 4 G u s e r s a n d 1 0 m i l l i o n Vo i c e - o v e r- LT E ( Vo LT E ) users offering a more immersive communication experience The performance of its digital services during the quarter solidified Jazz s position as a preferred l i f e s t y l e p a r t n e r f A t t h e s a m e t i m e , P a k i s t a n ’s largest homegrown OTT platform Tamasha now has 4 3 million monthly active users A a m i r I b r a h i m , C E O o f J a z z , s a i d , “ D e s p i t e a n unprecedented increase in operating costs and restrictions on importing essential telecom equipment we a r e m a k i n g a n a l l - o u t e ff o r t t o o p t i m

o

1 2

i l e

sis to stability is through the development of agriculture If Pakistan's agricultural sector is developed on modern lines, the food trade deficit will be eliminated in three years and the production surplus can be achieved in another three years,” said Saleem He added that Pakistan needs 1960s like measures for agricultural revolution because Pakistan s production per acre is half and less than the world average in many crops Pakistan s agriculture sector needs financing of 2700 billion rupees Agriculture is the only way for Pakistan to address problems like ex ternal deficit and declining exports for a lasting solution, said Saleem Chief Executive PAC Arif Nadeem delivered welcome speech on Pakistan's Agriculture and Opportunities in the Global Economy

i z e a n d e n r i c h customer experience through consistent network inv e s t m e n t s a n d o u r r o b u s t d i g i t a l s e r v i c e s p o r t f o l i o

Higher user engagement in digital services and recogn i t i o n o f J a z z a s t h e f a s t e s t m o b i l e b r o a d b a n d provider by Ookla in Pakistan further validates our commitment to offering the best-in-class services to our customers

Masterc ard, D igitt+ to promote financial inclusion in agri sec tor

KARACHI: Aktkar Fuiou Technologies (AF T) has signed an agreement with Mastercard marking its commitment to participate in the Mastercard Community Pass Program Digitt+ Pakistan s first regulated agri-fintech company powered by AF T intends to connect untapped agricultural markets with digital payment solutions and become the first entity to launch Mastercard Commerce Pass in Pakistan P R

HDF Pakistan inaugurates Afaf D am

been listed across the country from 1st march to 10th march, 2023 During the listing phase all the residential and economic units has been geo tagged along-with classification of economic activities as per international standard

The self-enumeration portal was very well received by people who have enumerated themselves using the portal launched and this method was optional The verification of data is being confirmed during enumeration phase using the UTN

ISLAMABAD: The Human Development Foundation (HDF) held the inaugural ceremony of Afaf Dam in Soon Valley here the other day The dam is located in the village Siddiqueabad (old name Kufri) Soon Valley and is built by HDF with the support of Qayyum family who generously donated towards the project The inauguration ceremony was attended by representatives from local departments the Qayyum family, local authorities, HDF and community members Mehboobul Haq, the CEO of HDF, stated in his opening remarks: ‘With the construction of the Afaf mini dam, we are taking a crucial step towards addressing the challenges of climate change and groundwater depletion This dam will not only provide a reliable source of water for the local community but also contribute to the conservation of the environment in the region Speaking at the ceremony Mr Zulfiqar Ali GM Projects and Programs Implementation highlighted the organization’s commitment to creating sustainable solutions to address social and environmental challenges P R

IoBM student becomes youngest

Pakistani to summit world's highest peaks

i n g C o r p o ra t i o n L t d (

S C E C ) c a l l e d o n I f t i k h a r A l i S h a l l wa n i Fe d e ra l S e c r e t a r y, M i n i s t r y o f H o u s i n g a n d Wo r k s D u r i n g t h e c o u r s e o f m e e t i n g , d e t a i l e d d i s c u s s i o n wa s c a r r i e d o u t r e g a r d i n g c o n s t r u c t i o n o f l o w c o s t h o u s i n g u n i t s a s w e l l a s u p g ra d a t i o n o f s l u m s f o r t h e l o w i n c o m e c i t i z e n s o f Pa k i s t a n a c r o s s t h e c o u n t r y I n t h i s r e g a r d , a n M o U h a s a l r e a d y b e e n s i g n e d i n S e p t e m b e r 2 0 2 1 b e t w e e n C S C E C a n d M i n i s t r y o f H o u s i n g a n d w o r k s T h e s a i d M o U r e m a i n e d e f f e c t i ve f o r o n e ye a r M r C h a n g C h u n r e q u e s t e d f o r t h e r e n e wa l o f M o U a n d i n c l u s i o n o f h o u s i n g a n d c o n s t r u c t i o n s e c t o r w i t h i n t h e s c o p e o

KARACHI: Asad Ali Memon, a student at the Institute of Business Management (IoBM) in Karachi, has made waves in the climbing world by becoming the youngest Pakistani to summit several of the world's highest peaks With the support of IoBM and other corporate organizations, Asad is now setting his sights on the ultimate prize: Mount Everest Asad's journey began in 2019 when he became the youngest Pakistani to climb Europe's highest peak Elbrus followed by South America s highest peak Aconcagua in 2020 He then went on to climb Africa s highest peak Kilimanjaro in just 20 hours becoming the first Asian and only Pakistani to achieve this feat In 2022 Asad became the youngest Pakistani and only the third Pakistani to climb North America s highest peak Denali PR

Comprehensive repor t ‘S tate of Pakistan’s Agric ulture’ launched

Wage Access facility, to their 5,000 employees AbhiSalary will financially empower the group’s workforce by enabling them to access their earned salaries before their payday and have the freedom to spend, save and invest with their

WHAt’S HAPPENiNg At CREdit SuiSSE — SWiSS BANk tHAt HAd At LEASt 1,400 PAkiStANi

ACCouNtS

Swiss lender now finds itself in The bank s troubles began when a whistleblower gave an insight into the bank’s dirty businesses It revealed the hidden fortunes of its wealthy clients in 128 countries, ranging from business owners to politicians and those probed, and sometimes convicted in connection with various criminal activities

Many Pakistani names were also found in the leaked data To be more precise around 1 400 individuals in Pakistan were linked with around 600 accounts opened in Credit Suisse These included individuals who were under the radar of the National Accountability Bureau (NAB) The list also included the former head of the Pakistani intelligence agency,

China’s eastern province to relocate industries to Pakistan

ISLAMABAD G h u L a m a b b a S

China s eastern province, Shandong, is set to relocate its labour-intensive industries to Pakistan to reduce production cost as revealed in a meeting between Ministry of Commerce and Chinese business delegation on Thursday The meeting was headed by Minister of Commerce, Syed Naveed Qamar, Hou Jianxin, Chairman Shandong Xinxu Group Corporation China

As per official sources while taking the benefit of the decision of Shandong government, Jianxin came up with the vision to build an industrial park in Pakistan The industrial park will serve as a focal point for all the industrial requirements of Pakistan from China and vice versa, he elaborated

The Chinese delegation has informed that the projects like solar panels assembly plant metal refining plants fertilizer production plant, food processing plants (dry milk production, seafood processing, meat processing) are being considered for future investment Pakistan and China enjoy strong relations and expressed the hope that the trade and economic ties between the two countries would be further cemented with the passage of time

Meanwhile Qamar appreciated the decision of the Shandong government to shift its industry to Pakistan, which would not only save foreign reserves of the country but also create job opportunities in the country

The minister sought comprehensive proposals from the Chinese companies who are interested in shifting their businesses to Pakistan It will then be forwarded to the Board of Investment (BOI) for expediting the investment process The minister was of the view that the barter trade model, which has already been approved by the federal cabinet could be used to enhance exports China is playing a significant role in the economic development of our country and the barter trade model will further strengthen the bilateral trade

PCB reschedules HBL PSL 8 final for Saturday

S ta f f

The Pakistan Cricket Board (PCB) on Thursday announced that final of the ongoing HBL Pakistan Super League (PSL) season 8, will be played on March 18 (Saturday), at Gaddafi Stadium with Sunday and Monday to be treated as reserve days

Earlier the final match was scheduled to be held on March 19 (Sunday)

Taking to his twitter handle Najam Sethi chairman of the PCB management committee announced that the final of the ongoing Pakistan Super League (PSL) season eight has been rescheduled due to the rain forecast on March 19

Keeping the rain forecast into account PCB and franchises agreed to reschedule the final from March 19 to March 18, tweeted Sethi “Rain looms over the HBL PSL 8 Final [The PCB] and Franchises are anxious that the Final should not be disrupted, Sethi wrote on Twitter

“Therefore we have decided to reschedule the HBL PSL Final from 19 Mar 23 to Saturday 18 Mar 23 he announced The PCB management committee chairman also shared that the tickets already bought for the final will also remain valid despite the change in schedule

General Akhtar Abdur Rahman Khan As reported by The New York Times, Khan helped funnel billions of dollars in cash and other aid from the United States and other countries to the mujahideen in Afghanistan to support their fight against the Soviet Union ” Credit Suisse denied the allegations soon afterwards Similarly several politically exposed persons opened their accounts at a time when they were public office holders and they didn t mention it in their assets declaration submitted to the Election Commission of Pakistan One such individual received a substantial amount of funds in Credit Suisse at the prime of his political career One of the richest accounts held at the bank was of a Pakistani politician

Average maximum balance in accounts held by Pakistanis was 4 42 million Swiss francs (Rs 841 million) compared with the overall average of the leaked data which stood at 7 5 million Swiss francs (Rs1 42 billion) Decades of dirty money

When a bank collapses it borrows money from other solvent banks or governments to pay back its depositors That’s essentially what Credit Suisse is headed towards as it takes a loan from Switzerland s central bank Credit Suisse has been plagued by a series of scandals, leading to a significant decline in its shares and a perception that it is the weakest link in the Swiss banking industry

d a h m a da n i

The National Electric Power Regulatory Authority (NEPRA) on Thursday reserved its judgement on a petition filed by the federal government requesting another increase in electricity prices for consumers

During the hearing the representatives of the power division faced severe backlash from the regulator in light of its request for a hike in the rate of power surcharge from the next financial year (FY24)

The amount that will be recovered through this additional surcharge is earmarked to reduce the circular debt and pay for power theft costs at the end of the power distribution companies (DISCOs)

Though NEPRA has already allowed the government to recover Rs 1 43 per unit surcharge from the power consumers in the upcoming financial year the government in a petition said that it was not enough to meet the requirements

PR OfIt REPORt

L a h o R e

As many as 85% of people shopping online changed what website they were using to buy a product depending on whether or not there was an option to pay through debit or credit cards The data was revealed as part of a survey conducted by Visa

The survey shows changing consumer attitudes towards online payments Despite being a cash-intensive economy Visa has seen a significant shift towards digital commerce mobile and internet banking over the past few years The COVID-19 pandemic has accelerated this shift in consumer behavior with Pakistani consumers increasingly opting for digital payments over cash

The survey also revealed that 67% of consumers chose to pay online instead of Cash on Delivery (COD) because of the security of the payment facility In 2021, almost 50% of businesses were looking to offer digital payment services and eight out of ten small businesses considered it an essential part of doing business in Pakistan

Keeping up with the rest of the world, Pakistan is fast adopting cashless transaction methods The State Bank of Pakistan (SBP) processed 1 611 8 million e-banking transactions amounting to Rs 137 9 trillion, in the financial year 2022 This figure indicates an increase of 36% in volume and 59 4% in value of the translation on year on year (YoY) basis

In conversation with Leila Serhan, Group Country Manager and Senior Vice President to North Africa Levant and Pakistan (NALP) region Profit learned that fintechs are pushing towards financial inclusion Over the last few years, we have forged new partnerships with fintechs such as Tez Financial Services SafePay TAG and NayaPay to provide access to convenient and secure digital payments to underserved and underbanked segments of the Pakistani population ” she said

Our Visa Everywhere Initiative (VEI) and Fintech Fast Track Program (FFTP) were created to empower more fintechs to showcase their groundbreaking solutions which can help solve the payment challenges of the future In 2021 Pakistan s Safepay was among the winners of the VEI program,” she highlighted Pakistan offers immense opportunity and potential for the seamless shift towards digital pay-

ments Last year the rise of smartphone users and internet banking reached 8 4 million and 12 3 million respectively Despite the figure, a huge population of 81% remains unbanked The country’s cash-intensive economy coupled with a highly unbanked population and limited digital infrastructure low point-of-sale penetration

“We have seen some positive recent developments such as the State Bank of Pakistan has recently issued licenses to five new digital banks We believe this is a very positive development to drive more use cases and address underserved segments in the market added Serhan

Visa’s Pakistan journey

Given that Pakistan is a cash-intensive economy cash remains the biggest competition Having said that Visa has seen a significant shift towards digital commerce, mobile and internet banking over the last couple of years COVID-19 has accelerated a shift in consumer behavior According to Visa s 2022 Stay Secure consumer survey, 85% Pakistani consumers would switch stores or online shopping sites and apps based on the payment methods offered with most consumers indicating a strong preference for digital payments over cash

The COVID-19 pandemic has highlighted the instrumental role that fintechs play in championing small businesses accelerating financial inclusion and catalyzing economic recovery As a trusted engine of commerce, Visa’s top priority has been to help businesses especially small and medium sized businesses (SMBs), keep pace with and operate in a rapidly evolving world

Over the past few years Visa has made impressive strides in expanding its market share in Pakistan With over 31 million credentials created and more than 104K terminals deployed, Visa has become a key player in the digital payments industry in Pakistan The State Bank of Pakistan s introduction of Electronic Money Institution (EMI) and upcoming Digital Banking licenses has further empowered fintechs to reach underserved and unserved segments of the population and Visa has been a key partner in this mission Visa has forged new partnerships with fintechs such as Tez Financial Services SafePay TAG and NayaPay to provide access to convenient and secure digital payments to the underserved/underbanked segments of the Pakistani population

Therefore, another request for an increase of Rs 1 80 per unit was made by the government which would take the total to Rs 3 23 per unit to be charged from electricity consumers in the coming year to pay off debt and cost of power theft of inefficient power companies In order to arrive at a just and informed decision on the request of the federal government regarding imposition of the additional surcharge on electricity consumers on Thursday Nepra conducted a hearing headed by NEPRA chairman Tauseef H Farooqi

The representative of Khyber Pakhtunkhwa in NEPRA, Maqsood Anwar questioned how far will this matter go ? He further expressed his fear that the government will submit more applications to raise the price even further Chairman NEPRA questioned and pleaded with the federal government representatives stating, “let the people breathe a sigh of relief” He also questioned why the government is so eager to jack up prices intended for next year

The problems of our power sector are serious and circular debt is increasing rapidly officials said

The representative of Sindh at NEPRA, Rafiq Ahmad Shaikh lashed out at power ministry officials over requesting further increase in power surcharges Shaikh also took a jab at the DISCOs stating Why should people be punished for the poor performance of DISCOs?” He called for resolving the problems of electricity companies which would somewhat remedy the ailing power sector and also highlighted that NEPRA is also here to protect the rights of the users in order to prevent any form of injustice

Member Balochistan NEPRA Mathar Niaz Rana seconded Shaikh s concerns over poor performance of power distribution companies and called for addressing the governance issues within the companies There is a lot of criticism of us Rana said Casting a dark cloud over the preceding he added that what confidence can we give to the customers about when the situation will be fixed?

Amina Ahmed the representative of Punjab at NEPRA, asked the power division official not to mislead the authority and the public regarding imposition of this additional surcharge

She said that the federal government can levy a surcharge but asked for an explanation of the matter Power division officials said that circular debt stood at Rs 2 6 trillion which included payments to IPPs and Power Holding Company s debt It is not NEPRA’s job to impose this surcharge, Chairman NEPRA said adding that imposition of power surcharge will not resolve the issue of circular debt any more

Speculations about Pakistan’s nuclear, missile programme misleading: PM

ISLAMABAD S ta f f R e p o R t

Prime Minister Shehbaz Sharif on Thursday said the misleading speculations about Pakistan’s nuclear and missile program were unfortunate as stringent, fool-proof and multi-layered security safeguards duly testified by International Atomic Energy Agency (IAEA), were in place In a tweet, the PM said, Stringent, fool-proof and multi-layered security safeguards duly testified by IAEA are in place Our nuclear program represents the unwavering consensus of the nation and is for deterrence ”

Earlier the Prime Minister Office (PMO), in a statement on Thursday, said Pakistan’s nuclear and missile programme is a national asset which is

jealously guarded by the State Pakistan has made it categorically clear that its nuclear and missile programme is totally secure foolproof and under no stress or pressure, whatsoever , the statement said The statement was issued in wake of all the recent statements press releases queries and various assertions regarding Pakistan s nuclear and missile programme, being circulated on social and print media

The government said the country s nuclear and missile programme continues to fully serve the purpose for which this capability was developed Federation, provinces will have to work together for public welfare’

Prime Minister Muhammad Shehbaz Sharif has said the Federation and provinces will have to work together for welfare of the masses

He expressed these views while meeting with Sindh Chief Minister Syed Murad Ali Shah who called on him here in Islamabad on Thursday

Overall political situation of the country besides issues related to Sindh province came under discussion in the meeting

The Prime Minister said ongoing development projects initiated by the Federal government in Sindh will be completed at the earliest He said Thar Coal project will not only meet the country s energy needs but it will also open new avenues for development in the region Minister for Planning Ahsan Iqbal and Minister for Economic Affairs Sardar Ayaz Sadiq were also present in the meeting

Meanwhile Dr Fowzia Siddiqui sister of Dr Aafia Siddiqui, called on Prime Minister Muhammad Shehbaz

Sharif here in Islamabad on Thursday

During the meeting, she appreciated the measures that government is undertaking for Dr Aafia s well-being and requested the government to speed up efforts for the early release of Dr Aafia

The Prime Minister assured Dr Fowzia Siddiqui of the government s full support He lauded Dr Fowzia s untiring efforts in the pursuit of justice for her sister and prayed for the well-being and good health of Dr Aafia

The Prime Minister also instructed the Foreign Ministry to remain fully engaged with the US government as well as Pakistan s Mission in Washington, for Dr Aafia’s well-being and for her early release It merits to mention that former Prime Minister Muhammad Nawaz Sharif also had made robust efforts for release of Dr Aafia

Despite global downturn, ed-tech sector sees hope with Maqsad’s $2.8 million round

PR OfIt REPORt

L a h o R e

Despite a global slump in venture financing and an abysmal year for Pakistan’s startup ecosystem ed-tech startup Maqsad has managed to raise $2 8 million funding in its seed round The startup raised $2 1 million in a pre-seed round in 2021 which brings the total capital raised to $4 9 million The seed round was led by Speedinvest and returning investor Indus Valley Capital Other participants included Stellar Capital Alter Global, Johann Jenson (SVP Product at GoStudent) and other strategic angels Incoming investor Speedinvest is one of Europe s largest seed funds and already has an edtech unicorn in its portfolio, Vienna-

based GoStudent Maqsad behind Maqsad The Karachi-based ed-tech startup was founded by two high-school friends Rooshan Aziz and Taha Ahmad in 2021

The founders’ launched the startup with the vision of making quality education accessible to 9-12 graders Pakistan has one of the highest student to teacher ratio of about 44 students to only one teacher due to which a lot of students rely on after-school tutoring The app covers syllabuses of Sindh, Punjab and federal text book boards and teaches math physics chemistry and biology and will be adding English lectures soon Maqsad claims that the app has been downloaded over a million times answered 4 million student queries It further claims

that the app s interactive query solving technology and improved assessment features led to greater than 150% month-onmonth growth in questions attempted For now, the app is largely free, however the cofounders are planning to introd u c e s o m e p r e m i u m f e a t u r e s i n t h e future According to the co-founder Aziz, the app offers various packages but on ave r a g e a s t u d e n t c a n h a v e f u l l a c c e s s t o the entire range of subjects at a monthly f e e o f a r o u n d R s 5 0 0 - 6 0 0 H e f u r t h e r s t a t e d t h a t t h e s t a r t u p w o u l d h i t b r e a k even within two years Ed-tech potential in Pakistan

The most valuable startup in India is an educational technology company EdTech companies as they are known in financial

circles, have a grip on India Byjus, which also has its brand logo on the Indian cricket team s

startups have only caught the eye recently with their funding announcements The un-

sung heroes for the industrious work they are doing are EdKasa Maqsad Out-class Taleemabad and Sabaq – a few names you might have heard about Then there are others like Noon Academy, Knowledge Platform and Educative which are not purely home grown Except Knowledge Platform and Educative all others are consumer facing EdTech startups; they are providing learning to end students directly Both Knowledge Platform and Educative are B2B startups targeting schools to digitise them for learning at school Among the B2C startups, the prominent ones are EdKasa, Maqsad, Noon Academy and Taleemabad, which have made a headway in the space and have created their own apps

D espite changing patterns, cash remains biggest competition for contac tless payments in Pakistan: sur vey