Epaper_23-03-22 LHR

Hinopak Motors, Ghandhara Tyre & Rubber announce plant shutdowns

‘beleaguered’ PdM Pressing for iMran’s ‘ousTer’ froM PoliTical arena

ISLAMABAD s a l e e m J a d o o n

ThE beleaguered PMl-N-led government of PdM has convened a special session of both houses of the parliament on wednesday to take important decisions to enforce [writ of the state] in the face of ever-rising popu arity of PTI and defiance of its supports against government acts to contain its chairman

The decision comes a day after couple of meetings of the countr y s civ lian and mi itar y high command took an extremely [unfavourable view] of the PTI s ongoing protest movement where n the m litar y agreed with the government that elect ons to the nationa and prov ncial assemb ies should be he d simultaneous y during these [important] meet ngs though the top leadership of Pakistan democratic Movement (PdM) failed to evolve a consensus on a proposal to ban Imran Khan-led Pak stan Tehreek-i-Insaf (PTI) fo lowing the recent clashes between the PTI workers and police at Islamabad jud cial comp ex and Zaman Park o n t h e o t h e r h a n d Pa k i s t a n Te h r e e k- e - I n s a f ( P T I ) s e n i o r v i c e p r e s i d e n t a n d f o r m e r n f o r m a t i o n m n i s t e r Fa w a d C h a u d h r y o n Tu e sd a y w a r n e d t h a t t h e r e w o u d b e a r e a c t i o n n o o n e h a d e v e r m a gi n e d ” i f t h e p a r t y c h i e f I m r a n K h a n w a s [ b a n n e d ] on Monday through its declarat on, Shehbaz Sharif s government, backed by the powerful militar y indicated its wi l ngness to violate the Constitution by disregard ng the Supreme Court s ruling wh ch mandates the holding of elections in Pun ab and Khyber Pakhtunkhwa within 90 days n accordance with the Constitution Meanwhile insiders in the PMl-N

seek ng anonymity opposed any proposa to ban the PTI or its chairman say ng any such step would [only] aggravate the current political turmoi adding that it s ver y obvious the PMl-N is hijacked by [hawkish elements] having litt e or no knowledge of politics and democracy and hel -bent on stamp ng their authority both in the party and at the po itical spectrum of the countr y ” Some second-tier eaders of PPP a so voiced concerns over the im-

p ementation of any such proposal saying they always preferred po itics of principles and never favored [vendetta] referring to the workerspol ce clashes in Islamabad and Zaman Park, they termed any such act regrettable and condemnable saying but we should look at the reasons for any such act The pol ce did not tr y to handle the situation through peaceful means both in Islamabad and lahore And from the events unfolded in the aftermath it

appeared, (mighty people) have forced the police to deal with the protesters heavy handedly

They pointed out that politician shou d sit together to resolve their ssues in a political manner without the nvo vement of the third force Khan had been prime minister from 2018 unti 2022 when he was ousted from the off ce through a contentious no-conf dence vote

Since then, he has been demandng fresh elections and has been holding protests across the countr y to press his demand his supporters have clashed w th police several times over recent days as authorit es tr y to force h m to appear in court in connection with various “ po itical y-motivated ” cases brought against him The office of the speaker of pariament, in calling wednesday s jo nt sess on did not give a reason but the state-run Associated Press of Pakstan said the ru ing coalition had called for parl ament to take important dec sions to ensure the writ of the state was enforced

Khalilzad cautions govt against banning PTI, Imran Khan

Isl amabad: Former U S Ambassador to Afghan stan, Iraq and the United Nations Zalmay Khalilzad on Tuesday cautioned Pak stan government against taking an extreme step against former prem er and Pakistan Tehreek-iInsaf (PTI) Chairman Imran Khan In a ser es of tweets Zalmay Khali zad sa d that there are indications that Pakistan s par iament which is controlled by the governing coalition might well ask the Supreme Court to disqualify Imran Khan from running for elect on and even prohibit PTI in the next few days The government appears to have dec ded to set up Imran Khan as Enemy No 1 of the State Such steps will on y deepen Pakistan’s triple crises: pol tical economic and secur ty Already some countries have suspended planned investments he said The IMF support rema ns doubtful If the steps ment oned take place international support for #Pakistan will decline further Polit cal polarization and violence w ll ikely increase he added

I hope the Pak stani political eaders rise above destructive petty politics that undermine the nationa interest If not I hope the Supreme Court says no to being used n games that undermine the nation s interests I am becom ng ncreasing y concerned about Pakistan, conc uded the US eader s ta f f r e p o r t

massive 6.8 magnitude ear thquake rattles cities across Pakistan

ISLAMABAD s ta f f r e p o r t

ISlAMAbAd: A massive earthquake of 6 8 magn tudes olted parts of Pak stan The epicentre of the earthquake was Afghan stan s hindu Kush region while ts depth was 180 ki ometres according to the Pakistan Meteorological department (PMd) losses repor ted in Islamabad, KP

Two persons lost his life whi e 120 others were in ured n ncidents related to earthquake Initial but unconfirmed reports suggested that heavy losses were w tnessed in Upper Swat and many houses had been destroyed Meanwhi e one person lost h s life due to suffering heart attack while leav ng the house through stairs dur ng a quake in Sector g-7 he was shifted to Federal government Po yclinic but he cou dn t sur vive losses to life and proper ty repor ted in Upper SwatSome agencies have also put the magnitude of the quake at 7 7 witnesses sa d that the strong earthquake last ng for at least 30 seconds was felt across Pak stan People ran out of their houses and were sitt ng in streets reciting quranic verses Tv footage also showed cit zens out on the streets from their homes and buildings after the quake shocks were felt The US geological Sur vey sa d the quake rocked Afghanistan as well and the quake ep centre was 40 ki ometres south-southeast of the Afghan town of jurm

Keep ng in view the severe earthquake on Tuesday night ma or government hosp tals w ll remain on high alert in the federal capital

Pr ofIt rePort

The International Monetar y Fund (IMF) has stated t h a t t h e Pa k i s t a n i g o v e r n m e n t d i d n o t c o n s u t t h e o r g a n s a t i o n r e g a r d n g i t s p a n t o p r o v i d e p e t r o l s u b s d i e s f o r l o w- i n c o m e g r o u p s b oomberg reported on Tuesday IMF s resident representative for Pakistan Esther Perez who spoke with the internationa publ i c a t i o n, i n d i c a t e d t h a t t h e l e n d e r w a s n o t informed about the government ’s strategy to nc r e a s e f u e p r i c e s f o r w e a l t h y i n d i v i d u a l s t o f inance a subsidy for ow-income people

Pe r e z s t a t e d t h a t I M F s t a f f m e m b e r s a r e seeking more information on the scheme s operation, cost, targeting, protection against fraud a n d a b u s e a n d o f f s e t t i n g m e a s u r e s a n d w i l l discuss these elements with the authorities on the previous day Minister of State for Pet r o l e u m M u s a d i k M a l i k s t a t e d t h a t t h e f e d e r a l g o v e r n m e n t h a d d e c d e d t o p r o v i d e r e e f n p e t r o p r i c e s t o m o t o r c y c l i s t s a n d o w n e r s o f v eh i c l e s u p t o 8 0 0 c c b y u p t o r s 1 0 0 t o m t i g a t e t h e e f f e c t s o f h i g h p e t r o l p r i c e s o n n f l a t i o n - a ff e c t e d p e o p e Ma ik stated that the decision to provide fuel

Pm shehbaz admits politicians

ISLAMABAD

G h u l a m a b b a s on Tuesday while announcing the rs 5 billion ramzan re ief Packages rs 3 24 billion ess than last year Prime M nister acknowledged that it is not enough

In response to a media quer y about r sing inflation Prime Min ster Shehbaz Sharif sa d that, I admit that we, the politicians are responsible for the mess created in the past 70 years he also added that he w ll visit stores personally to make sure the package is being delivered

The Min str y of Industries has allocated rs 1 15 billion for targeted and rs 3 84 billion for untargeted subs dies on selected commodities like vegetable ghee tea f our sugar mi k beverages dates and gram flour at utility stores across the countr y

As per details the targeted subsidy will be only for the users reg stered under the benazir Income Support Program (bISP)

while the people of the ent re countr y will be able to benef t from the general subsidy Targeted subsidy customers wi l be provided with flour for 10 kg bags at rs 400 sugar at rs 70 per kg and ghee at rs 300 per kg while in general subsidy, a 10 kg bag of flour wi l be ava lable at rs 648 sugar at rs 91 per kg and ghee at rs 490 per kg while wh te gram w ll be avai ab e at rs 20 less per kg

A d d r e s s i n g a p r e s s c o n f e r e n c e Federal Minister for Industries and Prod u c t i o n S y e d M u r t a z a M a h m u d claimed that the first priority of the federal government was to save the people from hardship and inflation and to bring conveniences to their doorsteps According to the minister the federal government is already providing five basic food tems at discounted rates to the public through the Uti ity Store Corporation (USC) In order to mainta n th s cont nuity of pub ic convenience the Prime Minister

rel ef package to the month of ramazan which will continue ti l Eid-ul-F tr

The number of subsidized items has also been increased 19 wh ch ncludes f our ghee sugar cooking o tea dates basin dal mash dal mung milk dr nks spices etc Along with this the Prime M nister has also released a free f our package for the cit zens of Islamabad This gift of free f our s being distributed to the poor and deser ving fam ies who are registered under the benaz r Income Support Program (b SP) Each

According to a spokesperson of the Ministr y of Nationa health Ser vices regulations and Coord nation the alert was issued to all the hospitals The admin stration of the Pakistan Institute of Medical Sc ences (PIMS) and the Federal government Polyclinic was also d rected to ensure a l necessar y arrangements in th s regard Earthquake tremors were felt across countr y including Islamabad rawalpindi lahore Multan quetta Peshawar Kohat lakk Marwat Peshawar Swabi lodhran dg Khan bahawalpur Skardu Kohat Toba Tek Singh Parachinar Nowshera and Khanewal Shaking could be felt as far as the Indian capital New delh reuters reported large parts of South As a are seismical y active because a tectonic plate known as the Indian p ate is pushing north into the Eurasian p ate rescue 1122 director general dr Khateer Ahmad said the department had received a phone cal each from Swabi and lower dir on which rescue teams were despatched No conf rmed reports of any loss of life or property have been received yet rescue 1122 is on h gh a ert and ready to prov de ser vices during any emergency he said

cur rent ‘mess’

FM Bil awal FElicitatEs iRanian, saudi countERpaRts on REsuMption oF tiEs

kArACHI S ta f f R e p o R t

iN phone calls with his Saudi and Iranian counterparts Foreign Minister Bilawal Bhutto Zardari on Tuesday hailed the resumption of ties between the two countries and termed it a harbinger for peace, prosperity and development for the entire region” T h e t w o r e g i o n a l h e a v y w e i g h t s a n n o u n c e d o n M a r c h 1 0 a C h i n e s ebrokered deal to restore ties seven years a f t e r t h e y w e r e s e v e r e d T h e d e a l i s e x p e c t e d t o s e e I r a n a n d S a u d i A r a b i a r e o p e n t h e i r e m b a s s i e s a n d m i s s i o n s w i t h i n t w o m o n t h s a n d i m p l e m e n t s e c u r i t y a n d e c o n o m i c c o o p e r a t i o n deals signed more than 20 years ago

In a phone call with Saudi Foreign

M i n i s t e r P r i n c e F a i s a l b i n F a r h a n A l S a u d F M B i l a w a l c o n g r a t u l a t e d h i s counterpart on the normalisation of ties a n d a p p r e c i a t e d t h e k i n g d o m s l e a d e r s h i p f o r t h i s p o s i t i v e development T h e f o r e i g n m i n i s t e r a d d e d t h a t t h i s a g r e e m e n t w i l l p a v e t h e w a y f o r i n i t i a t i o n o f m e a n i n g f u l d i a l o g u e f o r peace, security, trade and development i n t h e e n t i r e r e g i o n , a p r e s s r e l e a s e issued by the Foreign Office (FO) said The two diplomats reaffirmed the “fraternal relations” between the two countries and reiterated their mutual commitment to “further expand and diversify the bilateral strategic partnership” They also stressed the vital role of

Expor t Facilitation Modules launched by FBR

ISLAMABAD S ta f f R e p o R t

The Director General (DG) Customs Automation & Reforms, Federal Board of Revenue Syed Shakeel

Shah launched various modules of Export Facilitation Scheme (EFS) for facilitation of exporters and export of goods and services under fully automated and digitized environment Shah was speaking to the participants of a workshop organized by All Pakistan Textile Mills Association (APTMA) He was accompanied by Collector

Customs Sambarial Nayyar Shafique Additional

Collector Customs Dry Port Lahore Farah Farooq

Deputy Director Input Output Coefficient

Organization (IOCO) Kareem Adil and other senior officers of Federal Board of Revenue (FBR) The Chairman APTMA North Hamid Zaman welcomed the delegation along with Senior Vice Chairman Kamran Arshad and Secretary General Raza Baqir whereas the workshop was attended by a large number of APTMA member mills across the country

DG Customs Automation & Reforms said that the objective of a series of workshop was to interact with the industry representatives to know about the issues faced in utilization of EFS and glitches being faced by them in their day to day working in order to improve the system As many as 3-4 of the issues have been resolved and remaining would be worked out before the deadline Deployment of additional human resource and technical assistance would be well in place by the department as well he added DG said that FBR was proactive to eliminate any irritants on the way of exports and would go all way to resolve all sorts of issues relating to exports

high-level exchanges for cementing ties between the two countries ” the FO added Separately FM Bilawal also extended his warm felicitations to Iranian Foreign Minister Hossein Amir Abdollahian In the telephone call he termed the resumption of diplomatic relations between Saudi Arabia and Iran as a testament to the wisdom and farsightedness of the leadership of the two countries

The foreign minister also commended the important role played by China in facilitating this process,” the FO statement said

“Underscoring Pakistan’s close fraternal relations with both Iran and Saudi Arabia the foreign minister stressed that the renewal of diplomatic

pti leaders discuss elections with foreign diplomats

ISLAMABAD S ta f f R e p o R t

ties between the two brotherly countries would serve as a harbinger for peace prosperity and development for the entire region ” it added Taking note of the upward trajectory in Pakistan-Iran relations the two foreign ministers expressed their resolve to further intensify cooperation across the entire spectrum of bilateral ties the FO said Taking to Twitter, Bilawal said it was a pleasure to speak to his Saudi counterpart, adding that the two also discussed ways to bolster Pak-Saudi economic cooperation and trade H e a l s o s a i d t h e s a m e a b o u t h i s c o n v e r s a t i o n w i t h t h e I r a n i a n f o r e i g n m i n i s t e r s a y i n g t h a t t h e t w o a l s o r e a f f i r m e d t h e r e s o l v e t o f u r t h e r s t r e n g t h e n b i l a t e r a l t i e s

G ovt reluc tant to hold elec tions, says R asheed

rAWALpInDI S ta f f R e p o R t

Pakistan Awami League (AML) leader Sheikh Rasheed Ahmad condemned the arrests of Pakistan Tehreek-e-Insaf (PTI) workers by police without warrants and subsequent reports of torture on

Tuesday

In a series of tweets the former interior minister said that around 7080 workers of the opposition party were arrested after midnight calling the act cruelty barbarity and extremism

He also accused the authorities of attempting to avoid elections by cracking down on PTI

“I strongly condemn the torture of political workers,” Ahmad wrote “But our morale is high and our sentiments are strong I vehemently condemn all arrests ”

Rasheed also announced plans to hold a public gathering on Wednesday calling it a historic event He urged party workers and PTI activists to remain safe and be prepared to defend Pakistan Imran Khan and the nation s nuclear assets with their hearts and souls His

tweets came as police in Rawalpindi arrested at least 30 PTI workers in overnight raids including Raja Basharat Wasiq Qayoom and Arif Abbasi

In a separate case at Nasirabad police station over 200 workers were booked under charges of interfering in state matters and

violating Section 144

In response to the crackdown the PTI leadership urged party workers and leaders to shift to safer locations to avoid arrests The government has reportedly prepared a list of 1 000 people and is conducting raids on the houses of PTI leaders and workers

‘Beleaguered ’ PDM pressing for Imran’s ‘ouster ’ from politic al arena

ContInueS froM pAge 01

The APP reporting on a meeting attended by Prime Minister Shehbaz Sharif and his cabinet, cited the participants as saying Pakistan Tehreek-e-Insaf (PTI) was not a political party but rather a gang of militants”, and its “enmity against the state” could not be tolerated PM Shehbaz Sharif has rejected Khan’s demand for a new election saying it would be held as per schedule later this year

Parliament will meet in Islamabad as Khan s supporters gather for his latest rally in Lahore scheduled to be held at historic Minar-e-Pakistan on Wednesday and which is be described by the PTI chairman as [referendum] to ascertain where the nation stands and where the gang of thieves and their handlers stand

The clashes between Khan s suporters and the security forces have brought a new round of political chaos to the country already in the midst of a crippling economic crisis Khan says the government and the military are trying to stop him from contesting the next election scheduled for November If convicted in a case Khan could face disqualification from the polls

Both the government and military deny this Police have arrested hundreds of Khan s supporters in overnight raids in the past two days in response to the clashes

‘Reaction no one imagined eveR if imRan banned’ Pakistan Tehreek-e-Insaf (PTI) senior

vice president and former information minister Fawad Chaudhry on Tuesday warned that there would be a reaction no one had ever imagined if the party chief Imran Khan was banned Taking to his twitter handle the PTI s t a l w a r t s a i d : M o r e t h a n 5 0 0 P T I w o r k e r s h a v e b e e n d e t a i n e d o v e r t h e l a s t t w o d a y s R a i d s a r e b e i n g c o n d u c t e d t o a r r e s t Te h r e e k - e - I n s a f workers and leaders, he continued He w a r n e d t h e o p p r e s s o r s t o g e t r e a d y f o r f i n a l p u s h a s p e o p l e s p a t i e n c e i s running out Fawad Ch called the press release issued after the meeting of ruling alliance “ridiculous” and said attempts are being made to violate the rights of the people by convening a joint session of the dummy parliament He said a group has been imposed on the country after holding the constitution in abeyance The masses pay no heed to the terrified group that is ruling country by force he wrote ‘failed to evolve consensus on a pRoposal to ban pti’

Earlier on Monday, the top leadership of Pakistan Democratic Movement (PDM) on Monday failed to evolve consensus on a proposal to ban Imran Khan-led Pakistan Tehreek-i-Insaf (PTI) following the recent clashes between the PTI workers and police at Islamabad judicial complex and Zaman Park

The PDM leaders met here with Prime Minister (PM) Shehbaz Sharif in

the chair to discuss the recent political situation PM Sharif had summoned a session of the heads of the coalition parties of the federal government to discuss the current political situation Sources privy to the meeting details t o l d P a k i s t a n To d a y t h a t t h e P D M meeting discussed the proposal to ban t h e P T I i n t h r e a d b a r e H o w e v e r t h e s o u r c e s s a i d P a k i s t a n P e o p l e s P a r t y

( P P P ) a n d a n o t h e r p o l i t i c a l p a r t y opposed the option to ban the PTI

The sources said that the meeting was informed that the proposal was flawed as the courts would soon strike down the government decision to ban the PTI and Imran Khan’s party would emerge victorious out of the crisis

During the meeting the sources said majority of the participants were of the view that they should not be blackmailed from Imran Khan s statements

Moreover majority of the PDM leaders opined that elections on national and provincial assemblies should be held at the same time

A day earlier, Pakistan Muslim League-Nawaz (PML-N) top leadership, Nawaz Sharif, Prime Minister Shehbaz Sharif and Maryam Nawaz also held a two-hour-long-meeting to discuss the country’s current political situation S o u r c e s s a i d t h a t M a r y a m N a w a z a r r i v e d a t t h e P M L - N p r e s i d e n t S h e h b a z S h a r i f s r e s i d e n c e a t J a t i Umarh while the party supremo Nawaz S h a r i f p a r t i c i p a t e d i n t h e m e e t i n g v i a

v i d e o l i n k Sources claimed that matters related to country’s political and economic situation were discussed during the meeting The PML-N leadership also expressed serious concern over assault on law enforcement agencies (LEAs) by Pakistan Tehreek-i-Insaf (PTI) workers

During the meeting Nawaz Sharif directed PM Shehbaz to ensure enforcement of law at any cost ‘vile campaign against aRmy, coas intoleRable’

Earlier in a statement issued by the Prime Minister ’s Office (PMO) on Monday, the prime minister denounced “what he called a vile campaign” that he claimed was initiated by the Pakistan Tehreek-e-Insaf (PTI) to target Pakistan Army and its chief Gen Syed Asim Munir in foreign countries

He urged overseas Pakistanis to speak out against this campaign and defend the honour and integrity of the country s military

The campaign against the army chief is intolerable and a continuation of the conspiracy against the institutions, he declared Sharif, who has emerged significantly weakened from the political crisis, also claimed that “toxic politics” was being spread through the diaspora

He also issued a call to “patriotic” citizens living abroad to reject and speak out against what he called a foreignfunded campaign aimed at destabilising the country

Pak istan, Russia discuss crude impor t deal

Pakistan Tehreek-e-Insaf (PTI) deputy chairman

Shah Mehmood Qureshi and secretary general

Asad Umar Tuesday met with foreign diplomats in Islamabad to discuss the party s goal of holding free and fair elections to end political instability in Pakistan The breakfast meeting was organised by Australian High Commissioner to Pakistan Neil Hawkins and was attended by ambassadors from European and Muslim countries During the meeting, Qureshi and Umar exchanged views with the envoys on the regional and overall political situation of the country The politicians emphasised their demand for transparent elections according to schedule to bring an end to the ongoing political instability in Pakistan We are deeply grateful to Australian High Commissioner Neil Hawkins for organising this breakfast meeting Qureshi said Former prime minister Imran Khan has accused the government of trying to get him out of the way to contest the elections, as dozens of his supporters were arrested and injured in an overnight police crackdown ahead of an election rally in Lahore Polls in Punjab and Khyber Pakhtunkhwa due on April 30 were announced after the dissolution of the provincial assemblies of both regions which together account for 70 percent of the nation’s population Khan had called for their dissolution in a bid to force early national elections in Pakistan which are scheduled for October The government of Shehbaz Sharif however has dismissed Khan s demands saying the vote will take place as scheduled later in the year

iHc declares Khan’s arrest warrants as ineffective

ISLAMABAD S ta f f R e p o R t

The Islamabad High Court (IHC) on Tuesday declared the petition seeking cancellation of Imran Khan’s arrest warrants as ineffective and also sought report from IGP Islamabad regarding the missing file pertaining the attendance of PTI’s chairman Chief Justice Aamer Farooq heard the case filed by former prime minister Imran Khan seeking cancellation of his non-bailable arrest warrants Khwaja Haris and Barrister Gohar Ali appeared before the court on behalf of PTI s chairman The chief justice noted that the trial court had already cancelled the non-bailable arrest warrants of PTI s chairman and after this his case in IHC had become ineffective The court also asked the IGP to submit report within ten days regarding the missing of attendance file from judicial complex and adjourned the case It may be mentioned here that the trial court was informed on March 18, regarding the missing of attendance file during the appearance of PTI’s chairman in judicial complex The trial court had cancelled the non-bailable arrest warrants of Imran Khan on his arrival in judicial complex Islamabad The District Election Commissioner had lodged a criminal complaint against PTI s chairman over not disclosing the gifts received from the toshakhana

us ex-ambassador calls on finance minister

ISLAMABAD S ta f f R e p o R t

The US Ex-Ambassador Ms Robin L Raphel Tuesday called on Minister for Finance and Revenue Senator Mohammad Ishaq The minister welcomed Ms Robin L Raphel and shared his views on improving deep-rooted and strong bilateral relations with the United States on economic and trade fronts The Finance Minister shared economic policies and priorities of the government to address the challenging economic and social development of the population The two exchanged views on matters of mutual interest in the backdrop of Pak-US relations and further deepening the existing bilateral relations between the two countries Ms Robin L Raphel underscored that both countries enjoy good relations and expressed confidence in the policies and programs of the government for economic sustainability and growth

Bisp Board approves new payment model for beneficiaries by opening accounts in banks

kArACHI S ta f f R e p o R t

Benazir Income Support Programme (BISP) Board has approved a new payment model for beneficiaries by opening accounts in banks This was decided in the 58th Board meeting of BISP chaired by Federal Minister for Poverty Alleviation and Social Safety and Chairperson of the program Shazia Marri in Karachi The Benazir Kafalat beneficiaries will soon be able to receive directly their quarterly payments by opening accounts in the banks of their own choice The pilot of this new payment model will be introduced in four selected districts of the country After the success of the pilot project, beneficiaries all over the country would be able to open up their accounts in banks of their choice

s o m e n t i o n e d t h a t P a k i s t a n w i l l r e c e i v e o n e - t h i r d o f i t s c r u d e o i l i m p o r t s f r o m R u s s i a a t a c o n c e s s i o n a l r a t e w h i c h w i l l b e n e f i t t h e p e o

The BISP board approved to increase the quarterly stipend from seven thousand to eight thousand seven hundred and fifty rupees The board also gave approval to a proposal of using mobile units for registration of people in Balochistan and other remote areas

Chairman NADRA Tariq Malik was asked to make extra efforts to help people make CNIC cards in remote areas of Balochistan Further the BISP Board approved an internship programme for fresh graduates of universities intending to gain experience through working with the Benazir Income Support Programme

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The ECC further directed the Ministry of KA & GB to submit a comprehensive plan for price rationalization in consultation with concerned stakeholders for consideration of the ECC within 30 days

Revenue

t o G B

from Kuwait and presented that the Government of Pakistan is utilizing a credit facility extended by Kuwait Petroleum Corporation (KPC) against supply of Diesel Oil under the term contract with PSO since 2000 and the term contract is extended every year PSO deposits Rupee equivalent with NBP after 30 days from the bill of lading date of each shipment and NBP transfers the cargo cost to KPC Kuwait In the current situation this account has witnessed huge exchange losses due to upheaval in the Rupee-dollar parity during the last 12 months The GoP is committed to cover these exchange losses Considering the above situation, the ECC approved an immediate technical supplementary grant of Rs 27 billion for Kuwait Petroleum Company The ECC on Tuesday was attended by Federal Minister for Power Mr Khurram Dastgir Khan Federal Minister for Industries and Production Syed Murtaza Mahmud Minister of State for Petroleum Mr Musadik Masood Malik SAPM on Finance Mr Tariq Bajwa SAPM on Revenue Mr Tariq Mehmood Pasha, Federal Secretaries and other senior officers

pM inaugurates teleschool pakistan

Mobile app

ISLAMABAD S ta f f R e p o R t

Prime Minister Shehbaz Sharif on Tuesday inaugurated One School for All, Teleschool

ISLAMABAD S ta f f R e p o R t

Minister for Information and Broadcasting Marriyum Aurangzeb

Tuesday said “terrorists in the guise of party workers came to attack the court and time was not far off when they would be appearing in courts with veiled faces

In tweet on her official handle on

Tuesday Marriyum Aurangzeb wrote:

Whether Imran Khan s spouse had got scared when goons of his Pakistan

atc grants interim bail to Qureshi in two cases

ISLAMABAD S ta f f R e p o R t

The Anti-Terrorism Court Islamabad on Tuesday granted interim bail to Pakistan Tehreek-e-Insaf (PTI) Vice Chairman Shah Mahmood Qureshi till April 10 in a case registered on charges of interference in state affairs and violence case ATC

Judge Raja Jawad Abbas heard the interim-bail plea of PTI leader Shah Mahmood Qureshi As hearing began, the judge asked Shah Mahmood Qureshi what allegations were made in the FIR against him

At which Ali Bukhari, the counsel for the PTI leader, replied that his client had been accused of inciting workers to protest on arrival of PTI Chairman Imran Khan in court in Toshakhana case Judge Raja Jawad Abbas said that the court will see who conspired and who ordered the protest The counsel requested to give a later date for next court appearance as his client had many cases pending against him in Lahore and Islamabad Upon which the ATC judge granted interim bail till April 10

Gov t extends job contract of syed Muhammad taha as Md pso for another three years

ISLAMABAD a h m a d a h m a da n T h e f e d e r a l g o v e r n m e n t h a s a p p r o v e d e x t e n s i o n o f S y e d M u h a m m a d Ta h a a s M a n a g i n g D i r e c t o r ( M D ) , P a k i s t a n S t a t e O i l ( P S O ) f o r a n o t h e r t h r e e y e a r s a n d t h e E s t a b l i s h m e n t D i v i s i o n i s s u e d a n o t i f i c a t i o n i n t h i s r e g a r d a f t e r t h e a p p r o v a l o f t h e F e d e r a l C a b i n e t Av a i l a b l e c o p y o f t h e n o t i f i c a t i o n o f E s t a b l i s h m e n t D i v i s i o n s a i d t h e f e d e r a l g o v e r n m e n t h a s a p p r o v e d e x t e n s i o n i n c o n t r a c t p e r i o d o f S y e d M u h a m m a d Ta h a w a s a p p o i n t e d a s M D / C h i e f E x e c u t i v e O ff i c e r o f P S O f o r a n o t h e r p e r i o d o f t h r e e y e a r s w i t h e ff e c t f r o m 2 6 - 0 2 - 2 0 2 3 u n t i l f u r t h e r o r d e r s

KP govt seeks centre’s suppor t to resolve ‘fiscal instability ’

P

D

of Maryam Nawaz at night she asked She lambasted Imran Khan for directing the NAB officials to trespass the residence of (Prime Minister) Shehbaz Sharif ’s daughter She also berated the PTI chief for dragging Faryal Talpur from hospital on an Eid day and harassing herself (the minister) in Masjid-e-Nabvi and London W h e t h e r h i s w i f e B u s h r a B i b i g o t f r i g h t e n e d a n

PTI files plea to register FIR against Rana

LAHore S ta f f R e p o R t

The Pakistan Tehreek-e-Insaf (PTI) on Tuesday filed an application to register a First Information Report (FIR) against PML-N Senior Vice President Maryam Nawaz and Interior Minister Rana Sanaullah among others

A request has been filed in the sessions court to register an FIR against Maryam, Sanaullah, Punjab Inspector General (IG) Usman Anwar, Lahore Capital City Police Officer (CCPO) Siddique Kamyana and others in the Race Course police station

According to Express News, the police station had refused to register the FIR following which the petitioner filed an application under Sections 22A and 22B in the court

In the application it has been argued that the Punjab IG carried out the police operation at PTI Chairman Imran Khan s Zaman Park residence on the orders of Maryam and Sanaullah The sanctity of the four walls was violated, it stated

Further, the plea stated that the Park residence as loyalists held their ground in a protest camp outside and scuffled with officials The search warrants shared by police obtained under Section 47 of CrPC read, “investigating officer is directed to accompany a lady police officer not below the rank of inspector at the time of search of a requisite house in accordance with law” The police cracked down on the PTI supporters as it tried to muscle its way into the residence that has remained a battleground between the PTI-led opposition and the PDM

government

Pakistan-Mobile App to provide online education to students from Grade-1 to 12 Inaugurating the revolutionary step of materializing the vision of digital education here in Islamabad, he emphasized on promoting online education that can ensure continuity of learning in far flung areas as well as during catastrophes and pandemics He said we have to invest in our future generations to equip them with modern skills He said vocational training centers should be established across Pakistan in cooperation with the provincial governments He said private institutions can be hired in a transparent manner to impart skill education to students The Prime Minister called for supporting orphan and poor students through Education Endowment Fund He said the federal government is also planning to help Balochistan Government in establishing Danish Schools in the province to provide quality education to the children Highlighting importance of quality teachers’ training Shehbaz Sharif advised the Minister for Federal Education and Professional Training to chalk out a coordinated programme in consultation with provinces to equip teachers with modern education and skills He said teachers attendance should be digitized The Prime Minister on the occasion also distributed chrome books among students Earlier briefing the audience Minister for Federal Education and Professional Training Rana Tanveer Hussain said 22 8 million children are out of school in Pakistan and this initiative will certainly help cater to the educational needs of such students He said efforts are being made to make Islamabad a model territory in terms of provision of education by bringing the number of out of school children to zero He said we are also focusing on teacher training and girls’ education Secretary for Federal Education and Professional Training Waseem Ajmal said digital content of high quality comprising around 6 000 video lessons has been created to impart education to students in all subjects through six digital channels He said chrome books are also being provided to children with the cooperation of Google for Education

three terrorists killed in di Khan fire exchange

S ta f f R e p o R t

The Security Forces on Tuesday killed three terrorists while thwarting an attack on a police check post in Khutti an area in Dera Ismail Khan where three soldiers also embraced martyrdom fighting gallantly during a heavy exchange of fire According to the Inter-Services Public Relations (ISPR) on the night of March 20th and 21st terrorists opened fire on a Police check post in the general area of Khutti DI Khan district The Security Forces on receipt of the information, immediately cordoned off the area, blocking all possible escape routes However, the fleeing terrorists were intercepted in the general area Saggu, Dera Ismail Khan (DI Khan) district After an intense exchange of fire, three terrorists were killed, whereas weapons and ammunition were also recovered from the killed terrorists it said The martyred soldiers were identified as Havaldar Muhammad Azhar Iqbal (age 42 years resident of Lodhran) Naik Muhammad Asad (age 34 years resident of Khanewal) and Sepoy Muhammad Essa (age 22 years resident of South Waziristan) who had fought gallantly embraced Shahadat (martyrdom) during an intense exchange of fire

outside Judicial Complex despite securing bail Police officials had said that Hassan Khan Niazi was arrested for resisting the force at a police picket PTI leader Iftikhar Durrani claimed that SP Nosherwan abducted Hassan from outside the court despite being on bail

R e

ISLAMABAD

Cross subsidy, cross purposes

tH E recent announcement by the Minister of State for Petroleum Musadik Masood Malik to increase petrol prices for the wealthy and reduce them for low-income individuals has drawn much criticism While the idea of cross-subsidization may seem noble, the government s scheme raises more questions than it answers

Firstly, the government has been hesitant to use the word “subsidy” to describe this scheme presumably to distance it from the previous petrol subsidy provided by the government this raises questions about whether the International Monetary Fund (IMF) will approve of this cross-subsidy or seek to scrap it the government must clarify its position on this matter

Secondly, while a report by Profit shows that the scheme may work under specific circumstances it assumes constant consumption patterns which is a flawed assumption the consumption patterns may change once the subsidy is implemented, leading to the entire scheme falling apart the government must conduct a thorough study of consumption patterns to ensure the scheme s success thirdly the scheme’s effectiveness is dependent on the accuracy of the 35:65 split of consumption between two and three-wheelers and four-wheelers this split does not account for 800cc four-wheelers and light four-wheel commercial vehicles, which are also beneficiaries of the subsidy the government needs to provide a clear breakdown of sales within the transport sector based on the type of vehicles to ensure the scheme’s effectiveness

Fourth, the government’s scheme raises concerns about whether the wealthy will be willing to pay the extra Rs100 per litre of petrol though that seems like a reasonable assumption, more or less, but if they choose not to do so the government’s plan will fail It could lead to a loss of revenue for the government which could impact the subsidy’s availability to low-income individuals

And finally, of course, is the issue of pilferages and graft Setting different prices for the same commodity will immediately create an incentive for black marketeering Our state just doesn’t possess the tools required for effective control

In conclusion while the idea of cross-subsidization may seem like a noble one, the government s scheme raises more questions than it answers the government must conduct a thorough study of consumption patterns, provide a clear breakdown of sales based on vehicle type and clarify its position with the IMF Until then the scheme’s effectiveness remains in doubt

Dedicated

The China/Saudi Arabia/Iran agreement: Cautious optimism is required

more insecure and questioning American intentions

Our backhanded efforts to reassure them led the Obama Administration to commit to support the effort to defeat the Houthi rebellion against the legitimate government in Yemen which only served to increase Iranian involvement in that conflict then came the trump Administration’s radical break from the Iran deal with no alternative and then their failure to provide support for Saudi Arabia when they were subjected to an Iran/Houthi missile attack All of this left US Gulf allies unsure about our policies and commitments US American hubris erratic behavior, and lack of concern for allies’ concerns led one Arab intellectual to describe the past two decades of US policy as a dizzying roller coaster ride and we want to get off

PU N D I t S and politicians have had their say on the announcement in Beijing that after four days of negotiations agreement has been reached between Saudi Arabia and Iran to restore diplomatic ties While reactions have ranged from euphoria to cynicism to outright hostility reality dictates that cautious optimism is the better course Here are a few observations on what just happened why it happened and what will need to happen moving forward:

It is no doubt significant that China was the address that brought the parties together this was a role that the USA for domestic political reasons could not and would not play As a result, we left a diplomatic vacuum that opened the door for Beijing the stage for the current state of affairs was set with US miscues in the region beginning with the Bush Administration s disastrous war in Iraq and the Obama Administration’s shortsighted approach to the Iran nuclear deal the Iraq war devastated the country and its peoples, and depleted US standing and resources, leaving us as “damaged goods,” even with many of our regional allies It also gave Iran a foothold in Iraq One of the key recommendations of the Iraq Study Group called for the convening of an all-party meeting (including Iran) to bring some stability to Iraq and the region the Bush crowd rejected this recommendation When the Obama Administration left Iraq in the hands of a deeply sectarian government, the die was cast leading to renewed civil conflict and a stronger Iranian role in the country and across the region

When the Obama Administration was involved in talks with Iran on the nuclear issue, I said to them:

“Why are we expending all of our political resources and leverage to stop Iran from developing a bomb they don t have and could never use, when we ought to be addressing Iran’s regional meddling which is the real threat they pose? I proposed a regional security framework like the OSCE, which helped stabilize Europe for a generation this too was rejected By failing to address regional concerns the nuclear deal left Iran more emboldened and U S Arab allies

No longer confident of US support, some Arab states drew closer to China and Russia and even began to inch their way toward trying to normalize relations with Iran UAE restored diplomatic ties and Saudi Arabia began exploratory meetings in Baghdad with Iranian counterparts It fell to China, which has been expanding economic ties with both Iran and Arab Gulf countries to close the deal by playing the needed diplomatic role that could facilitate an agreement the China/Saudi Arabia/Iran pact not only envisions restored diplomatic ties non-intervention and respect for sovereignty, but also sets the stage for a regional economic summit later this year

flict with ours then we will act according to our interests, even when they conflict with yours

As this China/Saudi Arabia/Iran agreement demonstrates as a result of our hubris we may no longer be as Madeline Albright often declared the indispensable nation that said declarations that “peace is at hand” are premature Iran and Saudi Arabia will establish relations and China will parley its economic ties with both countries and others in the region to broaden the framework but the big question remaining is whether Iran will and can reduce regional tensions by reining in its regional allies

If the USA were smar t, it would recogniz e that there’s a new game afoot We have a choice . We can either remain on the sidelines, like Israel shellshocked, fing er-pointing, and bad-mouthing this development or we can seiz e this oppor tunity and offer to suppor t and par ticipate in expanding a regional peacemaking effor t I hope we choose the latter option, but fear we’ll choose the former

It s also worth noting that recent polling across the Middle East demonstrates China s enhanced role at the expense of the USA While still seen as more powerful and needed as an ally the USA is increasingly viewed as erratic and unreliable And strong majorities in most Arab countries see China as the emergent power that will eclipse the USA in the next 20 years

We’ve sold Arab states weapons invested heavily in the region and at times provided security when needed, but we ve also been demeaning and demanding and too often have turned our back on our Arab regional partners failing to address their concerns As Saudi Arabian leaders have told US presidents going back to Bush, If you insist on acting according to your interests even when they con-

S h o u l d n ’ t I C C b e e q u a l l y a c t i v e i n

sentatives formed the National Unity Government (NUG) they formed a government against the junta and announced the acceptance of the mandate of the ICC the ICC also recognized the declaration the NUG originally requested the ICC to investigate the junta s war crimes and crimes against humanity in Myanmar Because the political leaders know very well that there is no possibility of trial in the courts of that country And that is why Myanmar, a country of 55 million, is now looking to the international organization in the hope of justice

published in The Diplomat a Washington DCbased online news outlet, the Government of National Unity has the power to make this representation According to the authors of the analysis, John Daugaard, Chris Gunes, tommy thomas, Yuyun Wahuningram and Ralph Wilde according to domestic law the NUG is the legitimate government of Myanmar Because according to the 2008 constitution, these representatives were elected through popular vote in 2020 thus they have no chance of being illegitimate even if they are repressed by the junta; their government formation is completely legal

Iran has invested heavily in supporting proxy militias in Iraq, Syria, Lebanon, and Yemen If it is willing to do so Iran may be able to exercise some restraint and control But even if they cut back on financial and military support it s not clear whether the destabilizing groups they have backed in these countries will submit to their dictates Deep-seated sectarian and structural conflicts remain in each of these countries which Iran didn t create, but instead exploited and helped to exacerbate One measure of how serious Iran is about peaceful coexistence and focusing on trade, development, and promoting prosperity for its own people and the region is its willingness to participate in regional efforts to stabilize the countries in conflict It could do this by pulling the plug on support for its militias and working with Saudi Arabia and other parties to achieve political solutions in each

If the China/Saudi Arabia/Iran pact can be built upon it could represent a major transformation of the region this outcome is far from assured and will require heavy lifting and good faith of all parties especially Iran

If the USA were smart, it would recognize that there s a new game afoot We have a choice We can either remain on the sidelines like Israel shellshocked finger-pointing and bad-mouthing this development or we can seize this opportunity and offer to support and participate in expanding a regional peacemaking effort I hope we choose the latter option but fear we ll choose the former

The writer is President of the Arab American Institute

E d i t o r ’ s m a i l

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

Let’s do away with organ trafficking

It has been two years since the military coup in Southeast Asia’s Myanmar the military junta came to power after overthrowing the democratically elected government on charges of corruption Myanmar has been under the leadership of the country s military chief Min Aung Hlaing since 1 February 2021 For more than two years, the military government has repressed the people’s movement and protests demanding democracy

According to various international organizations, at least 2000 people have been killed and more than 15 000 arrested in the junta’s crackdown; At least another 1 million have been displaced Even then, the International Criminal Court (ICC) has not seen any role in the beleaguered country the people of Myanmar may be in solidarity with their Ukrainian brethren, but they have every reason to be infuriated by the contrasting response from the international community to the crisis they face at home Western nations and key Asian allies responded within days to Russia’s invasion of Ukraine with tough sanctions and weapon supplies the international reaction to the bloody military takeover in Myanmar one year ago has been half-hearted by comparison there is a degree of racism the West is quick to defend a fellow and easily identifiable Western state In part it speaks to diaspora politics in the West given the presence of Ukrainian communities in the USA and across Europe, something Myanmar does not enjoy to the same extent the types of Russian weapons used in Ukraine are also killing people in Myanmar an independent United Nations expert has said, urging countries at the UN to form a coalition as they had done after Moscow’s invasion of Ukraine to put pressure on Myanmar s military rulers UN Special Rapporteur on Human Rights in Myanmar tom Andrews said that a coalition of countries should target Myanmar s military with sanctions and an arms embargo Following the military coup, in April 2021, Myanmar ’s pro-democracy and elected repre-

But sadly, the ICC is not as active in Myanmar as it is in investigating the crimes committed in Ukraine this raises the question of many whether the ICC is more concerned about the suffering of the West Myanmar and Ukraine lend themselves to comparison but the differences in international response are revealing Why have many countries in the Indo-Pacific responded more forcefully to Ukraine than to Myanmar? Ye Myo Hein and Lucas Myers argue that the democracy versus authoritarianism” framing is not persuasive to many regional actors who are more interested in defending the norms of sovereignty and territorial integrity

The UN Investigative Mechanism for Myanmar was established in 2017 by the United Nations to investigate the persecution of the Rohingya minority in Myanmar. Analysts believe that a similar investigation committee should be formed against the illegal junta government.

Additionally, their findings expose differences in risk tolerance and interests regarding global order between Russia and China Russia-Ukraine recently marked one year of direct conflict Just a few days after the start of the conflict the ICC representative went there and started investigating the incident the International Criminal Court even issued an arrest warrant against Russian President Vladimir Putin on March 17 for war crimes Although the Myanmar conflict has lasted over twice as long, there is still no ICC activity there Political analysts say that since the ICC has recognized the NUG s declaration, the ICC must send a team of investigators like in Ukraine to find the truth and announce a fair trial against the perpetrators this will increase the transparency of this international organization and make it a place of trust for the affected countries

whether

On the other hand the junta seized power through a military coup, in clear violation of Articles 71(a) and 417 of the country s constitution these articles contain clear instructions for the impeachment of the President and the imposition of a state of emergency But according to the rules it was not followed On the contrary, the military has taken power by force, ignoring the protests of the people and putting the democratically elected people including the president in jail

As a result, analysts say, the military’s seizure of power in this way is completely illegal

At the end of 2021, the UN removed the junta representative from its General Assembly and allowed the NUG representative to represent Myanmar at the meeting the International Labor Organization (ILO) also agreed with this decision of the United Nations As a result, the ICC must now accept the NUG’s declaration as valid there should be fair investigation and prosecution of the crimes committed and committed there the UN Investigative Mechanism for Myanmar was established in 2017 by the United Nations to investigate the persecution of the Rohingya minority in Myanmar Analysts believe that a similar investigation committee should be formed against the illegal junta government And through this they are of the opinion that justice should be ensured for the common people of Myanmar the people of the country have been waiting for justice for a long time So, the state, UN and ICC should take appropriate steps in this regard ICC should be equally active not only in Ukraine but also in Myanmar

P U N J A B no doubt is considered the centre of organ trafficking but no province is completely free of this menace I was checking data on Pakistan published on the website of Cadaver Society according to which Pakistan needs 50 000 transplantations for end-stage patients which included 15,000 kidneys and 10,000 livers this gap is difficult to fill the Human Organ transplant Authority (HOtA) which has been functioning since 2017 has stipulated a 10-year imprisonment on commercial transaction related to human organs It is time to save patients and poverty-stricken people from exploitation In this regard, the Senate was told that 16 doctors and 84 ‘agents’ had been booked for their alleged involvement in the organ racket this shows that professional ethics and religious values are being ignored with impunity there is an urgent need to spread awareness in favour of cadaveric organ donation and the Pakistan Medical and Dental Council (PMDC) should frame a strict code of conduct for the doctors warning them to refrain from getting involved in the completely unethical and seriously criminal trade of human organs How lucrative this racket has become can be seen from a recent report according to which a Filipino donated an Israeli patient his kidney through trafficking and got $500 for it the actual sale, as it turned out, took place for $50,000 the world is surely going bonkers the more it talks of human rights and civilization, the more it works against those very entities We need to come down hard on all elements involved in the heinous activity of organ trafficking DR HUSSAIN BUX

KOLACHI HYDERABAD

Kitchen gardening and food security

t H E State Bank of Pakistan s (SBP) warning of a potential food crisis due to rising population and global warming, combined with the country’s agricultural stagnation and reliance on wheat imports highlights the urgent need for a sustainable solution Kitchen gardening offers a viable path forward, tapping into the existing potential of homegrown produce to supplement household diets and reducing reliance on store-bought produce By growing fresh healthy produce at home, households can reduce their grocery bills, have more control over the quality and variety of their food, and promote healthy eating habits Furthermore gardening has been shown to have mental health benefits reducing stress and improving mood the Agriculture Extension Department s promotion of kitchen gardening in the community is a welcome initiative, offering subsidised seeds, guidance and training programmes to households schools colleges universities and vocational training centres the community should support this initiative to contribute to a more sustainable and self-sufficient future the district administration, in collabo-ration with government departments NGOs and educational institutions can organise awareness campaigns using various media platforms to encourage people to start their own gardens to extend the horizon of kitchen gardening, incentives, such as free seeds soil and other supplies can be offered to encourage people to start their own gardens Women should be encouraged to shoulder the responsibility of producing food through innovative approaches, such as kitchen gardening to overcome the rising food inflation After all, their counterparts in the rural areas are a major stakeholder in the farm economy the media can also play a vital role in spreading the word about kitchen gardening by organising interviews with successful gardeners and showcasing their gardens on local tV channels and newspapers Schools and colleges can partner with the initiative by integrating kitchen gardening into their curriculum and organising gardening competitions Community gardens can be started to promote social interaction, and resources, such as online tutorials and videos can be offered to support aspiring gardeners SAAD UR REHMAN SAADI

Dr ArpitA HAzArikA

TH E deep-seated and intricate history of tensions and conflicts between Saudi Arabia and Iran has been brought to a close through China s diplomatic efforts Both countries reached an agreement to reestablish diplomatic relations and reopen their embassies, marking the end of a seven -year-long period of hostility that had pushed the two powers apart the ongoing conflict between Saudi Arabia and Iran has had a significant impact on the Middle East region the two countries have been involved in a series of proxy wars political and economic rivalries and have been engaging in a war of words for decades this conflict has led to widespread instability and insecurity in the region this achievement marks a significant turning point not only in the regional dynamics and politics, but also presents a new chapter of cooperation and collaboration beyond the region the conflict has also had a widespread impact on the lives of people in the region, leading to widespread violence, displacement, and humanitarian crises the two countries have different religious beliefs with Saudi Arabia being a Sunni Muslim state and Iran being a Shia Muslim state the conflict has led to the spread of sectarianism and extremism which has further destabilized the region It has also had a significant impact on the regional economy and regional politics

Both countries are major oil-producing nations, and their political and economic rivalry has led to fluctuations in global oil prices the instability caused by the conflict has also led to a decline in foreign investment and economic growth in the region the two countries have been involved in a series of proxy wars including in Yemen Syria and Iraq these conflicts have led to widespread violence and humanitarian crises, with millions of people displaced and affected by the violence China as a major global power has been playing an increasingly important role in promoting peace and stability in the Middle East region One of the key areas where China has been focusing its efforts is in improving the relationship between Saudi Arabia and Iran two countries that have been involved in a long-standing conflict

Undoubtedly, China has a significant economic and strategic interest in the Middle East, and it has been actively involved in the region’s affairs for many years In recent years China has been working to build closer ties with both countries, recognizing the importance of the two countries in the region’s stability China has been actively involved in promoting dialogue between the two countries, and has been working to facilitate discussions on key issues of concern

In 2020 China hosted a meeting between Saudi Arabia and Iran in an effort to promote dialogue and improve relations between the two countries the meeting was seen as a significant step forward in improving relations between the two countries and it was welcomed by many in the region China has also been working to

As the two countries have been at the centre of many regional conflicts and proxy wars, a reduction in tensions would create new oppor tunities for cooperation and integration, which could benefit not only the two countries but also the wider region It remains to be seen whether a settlement is achievable, but the effor ts of China and Pakistan to facilitate dialogue and diplomacy between the two countries are a positive step towards greater regional stability and prosperity

A rude awakening for India

in the creation of the world order It has now made a significant move in that direction Of course, Chinese President Xi Jinping himself stated last week that Beijing should ‘actively participate in the reform and construction of the global governance system and promote ‘global security initiatives’ Since India has chosen to be China’s adversary it needs to take note with utmost seriousness that Beijing is inexorably becoming a participant in the shaping of the world order and the world community welcomes it

increase economic cooperation between Saudi Arabia and Iran, recognizing the potential benefits of increased economic ties between the two countries

China has been actively investing in both countries and has been working to promote trade and investment between the two China has also been involved in efforts to resolve conflicts in the region including the war in Yemen China has been actively engaged in supporting peace talks and working towards a political solution to the conflict recognizing the impact that the conflict has had on regional stability

China s efforts to promote dialogue, increase economic cooperation, and build cultural ties between the two countries have been welcomed by many in the region Pakistan being a Muslim-majority state with a long-standing relationship with both Iran and Saudi Arabia also warmly welcomed China’s efforts to bring these two nations closer together Pakistan has a long-standing relationship with both Iran and Saudi Arabia Saudi Arabia has been a major source of economic and military assistance to Pakistan and the two countries have also cooperated on regional security issues

However, Pakistan also has close ties with Iran, with whom it shares a long border Pakistan has tried to maintain a balance between its relations with Iran and Saudi Arabia but the conflict between the two countries has put Pakistan in a difficult position Pakistan s role in the conflict between Iran and Saudi Arabia has been crucial

As a neighbouring country Pakistan has a vested interest in ensuring regional peace and stability Pakistan has tried to play a mediator s role, but its efforts have been largely unsuccessful Pakistan has also sought to maintain its neutrality in the conflict but this has become increasingly challenging as the conflict has escalated In 2016, Pakistan hosted a meeting between the foreign ministers of Iran and Saudi Arabia in an attempt to defuse tensions between the two countries However the meeting ended without any significant progress, and the conflict between Iran and Saudi Arabia continued to escalate

In 2019 Pakistan s Prime Minister Imran Khan visited Iran and Saudi Arabia in an effort to reduce tensions between the two countries the visit was part of a broader effort by Pakistan to play a more active role in regional diplomacy and conflict resolution During his trip, Khan met with Iranian President Hassan Rouhani and Saudi Crown Prince Mohammed bin Salman to discuss ways to ease tensions and find a peaceful resolution to their disputes Khan s mediation efforts were significant because Iran and Saudi Arabia have long been bitter

rivals with tensions between the two countries exacerbated by their competing interests in the Middle East the two countries have been engaged in a proxy war in Yemen, with Iran supporting the Houthi rebels and Saudi Arabia supporting the Yemeni government In addition, Iran and Saudi Arabia have been at odds over Syria, with Iran supporting the regime of President Bashar al-Assad and Saudi Arabia backing opposition forces this visit was seen as a positive step towards reducing tensions between the two countries, but it remains to be seen whether his efforts will lead to any significant breakthroughs Nonetheless Pakistan’s role as a mediator in the region is likely to become increasingly important in the coming years as the Middle East continues to face a range of complex geopolitical challenges

Although the normalization of ties between Iran and Saudi Arabia is unlikely to have a direct impact on the China-Pakistan Economic Corridor (CPEC), however, there could be indirect effects on CPEC depending on the specific details of any potential settlement between Iran and Saudi Arabia For example, if Iran and Saudi Arabia were to improve their relations, it could lead to the opening of new trade routes and investment opportunities that could benefit CPEC

It would have significant positive implications for regional stability and economic development As the two countries have been at the centre of many regional conflicts and proxy wars, a reduction in tensions would create new opportunities for cooperation and integration, which could benefit not only the two countries but also the wider region It remains to be seen whether a settlement is achievable but the efforts of China and Pakistan to facilitate dialogue and diplomacy between the two countries are a positive step towards greater regional stability and prosperity

The writer is a freelance columnist

Who is Amritpal Singh and why is Punjab Police chasing him?

loosely described by Sidhu as a pressure group to fight against the Centre for Punjab s rights and to protest alleged attacks on the state s culture, language and social fabric “Hindu, Muslim, Sikh or Christian, it is for all those who will fight with us for the rights of Punjab, Sidhu had said

Eventually, ahead of Punjab s Assembly elections in February 2022 the Sidhuled organisation campaigned for Shiromani Akali Dal (Amritsar) – a party led by Simranjit Singh Mann, who is often described as a “Khalistan advocate”

IN D I A S sulk over the China-brokered Saudi-Iranian normalisation of diplomatic relations can only be called petulant behaviour What has happened is an epochal event Henry Kissinger drew the analogy of his own accomplishment in an extraordinary diplomatic career when as Secretary of State in the Richard Nixon administration, he helped achieve rapprochement with Beijing amidst its tensions with Moscow

One aspect of the Saudi-Iranian deal that has implications for India s immediate external environment is that the strategic situation in the Persian Gulf region India’s extended neighbourhood has dramatically changed this can only be seen as the culmination of a series of repositioning on the part of the regional states that have been underway in the regional politics, as they increasingly took to diversifying their foreign policies away from the preponderant dependency on the West historically and steadily and unmistakably began asserting their strategic autonomy with a newfound self-assuredness be it Saudi Arabia, the UAE Egypt or turkey

It remains a mystery whether that process which was actually overt, simply didn t register in the Indian consciousness, or the government ignored it as some aberration that didn’t fit into the entrenched paradigms in Indian thinking India s first-rate cadre of Arabist diplomats wouldn’t have led the leadership up the garden path Simply put we went into a deep strategic slumber even as West Asia transformed the euphoria over Abraham Accord; the bizarre grouping known as I2U2 (touted as West Asian Quad); the unwarranted uplift given to Israel whose main credential is that it is a vassal state of the US; the sheer naiveté in our faith that the US is the indispensable power in West Asia s geopolitics there is no question that these deeply flawed assumptions stand exposed today as caprices on the part of the Indian leadership today, Israel stares at strategic isolation in its region and America its mentor-cumb e n e f a c t o r - c u m - g u a r d i a n - c u m - p r o t e c t o r stands diminished Abraham Accord, which Indian lobbyists equated with US interests, and hailed as a historic event has eventually turned out to be a damp squib Washington Post columnist David Ignatius says the UAE is also ‘courting’ Beijing! We have been busy building Hindu temples in the Emirates while the Sheikhs were heading for China in search of technology!

A second aspect of the Saudi-Iranian deal is about China s mediatory role in it Kissinger noted that China has in recent years declared that it needs to be a participant

As an aspiring global power, India needs to come to terms with this geopolitical reality India lacks the capability to block China’s strides as a colossus on the world stage However, being a subaltern of the West and clinging on to the US’ apron strings isn’t an option as it will be unworthy of a ‘civilisation state’ and most certainly risky So far India s response has been to reinforce the bonhomie with Australia and Japan its two Quad partners in Asia But these two western allies of the US, bound together by security pacts, host American military bases and are extending a red-carpet welcome to NAtO in the Asian region which sets them apart Canberra and tokyo hope to persuade India to join their bandwagon for the remaking of the Asian order By and large Asian countries remain lukewarm though India cannot but be wary that the Biden administration s main thrust is military deterrence fuelling an Asian arms race with which India can identify only at the risk of grave consequences NAtO’s defeat in Ukraine will seriously damage the transatlantic system and the US’ hopes that casting China as enemy might rally Europe are unrealistic Besides, the China-Russia quasi-alliance will resist Should India get sucked into the maelstrom?

the US strategies seriously impact peace and stability in the Indo-Pacific, as they are anchored on bloc politics and confrontation and their self-serving geopolitical agenda is to create a NAtO-replica in the Asian continent the Anglo-Saxon clique known as AUKUS comprising the US Britain and Australia opens a Pandora s box as other countries will likely follow suit, which will seriously impact the international nuclear non-proliferation regime and even lead to its collapse Will that serve Indian interests?

Alas, India is mutely witnessing the US audacious blueprint to split the ASEAN the philosophy of consensual politics with primacy attached to mutual respect, openness and inclusiveness, consensus through consultation, and accommodating the comfort levels of all sides is also the quintessence of Vasudhaiva Kutumbakam , the foreign policy credo which the government espouses at world forums

Any fracturing of the ASEAN diminishes India ASEAN s centrality in the Asian power dynamic is something India must actively promote instead of chanting it as a mantra India s visible unease over the Saudi-Iranian deal harkens back to its decades-old strategic predicament the entrenched Indian narrative on China a legacy of the ‘Nehruvian’ era is delusional and our adversarial mindset is archaic In a third term in office beyond 2024, the leadership must cut the Gordian knot and liberate Indian foreign policy from shibboleths Russia will help India in that process

MK Bhadrakumar is a former ambassador

TH E Punjab Police’s attempts to arrest fugitive Khalistan sympathiser Amritpal Singh continued, after two days of state-wide cordon-and-search operations that led to the arrests of 112 of his associates and several others linked to his organisation Waris Punjab De being detained

Amritpal Singh who has garnered a significant following through his speeches that often focussed on Punjab’s youth and religion has given interviews supporting demands for Khalistan an independent state for Sikhs He has even stylised himself after former militant leader Jarnail Singh Bhindranwale the preacher and his supporters face several criminal cases, including one over storming a police station in Punjab in February By reviving memories of the 1980s Punjab insurgency Amritpal Singh s actions have led to concerns about law and order in Punjab

MANHUNT STILL ON: On Saturday

Amritpal Singh evaded arrest by reportedly fleeing on a motorcycle with police in pursuit in Punjab s Jalandhar district However, his uncle Harijit Singh and close aide Daljeet Singh Kalsi are among his alleged associates arrested by police

Before his arrest Harijit Singh reportedly told journalist Rattandeep Singh Dhaliwal, citing a purported video from Shahkot police station that Amritpal Singh may have already been detained and could be among those taken to Assam Suspected close aides of Amritpal Singh have been taken to Assam s Dibrugarh jail the police also filed a fresh case against Amritpal Singh and some of his supporters for allegedly possessing illegal weapons the suspension of mobile internet and most SMS services across several districts of Punjab introduced on Saturday amid the police operation were extended until noon on tuesday to prevent the spread of misinformation

LEADING ‘WARIS PUNJAB DE’ Lit-

tle was known about Amritpal Singh until a year ago His popularity first started growing in 2020 when he engaged and supported actor-activist Sandeep Singh, or Deep Sidhu, on social media amid the farmers’ agitation against three agricultural laws passed by the Modi government in 2020 He became particularly prominent in March 2022 upon being suddenly appointed the leader of Waris Punjab De – an outfit Sidhu had floated His appointment came weeks after Sidhu died in a car accident Waris Punjab De or heirs of Punjab was launched in September 2021 and was

In September months after being named Waris Punjab De s chief, Amritpal Singh returned from Dubai, United Arab Emirates where he reportedly worked at his family-owned transport business for a decade Even while in Dubai, the 29-yearold was reportedly vocal about topics such as state rights and drug addiction in Punjab

However, Deep Sidhu s family has since publicly distanced themselves from Amritpal Singh saying he has hijacked Waris Punjab De and exploited the actoractivist s popularity Sidhu s brother Mandeep Singh Sidhu has claimed that the late actor had never met Amritpal Singh and had even blocked the latter on social media

AMRITPAL SINGH’S BACKING

FOR KHALISTAN: In India Amritpal Singh s following grew rapidly on the back of public and private events he held across Punjab He had also undertaken a Khalsa Vaheer – a religious procession preaching Sikhism to youth His speeches reportedly merged social and religious aspects – focussing on raising problems such as the drug menace faced by Punjab s youth, and preaching Sikhism However Sikh scholars have questioned Amritpal Singh exerting his authority on religious matters the Caravan reported that some of Amritpal Singh’s speeches also targeted Hindu migrants from states such as Uttar Pradesh and Bihar, blaming them for selling drugs and cigarettes – proscribed in Sikhism ” He has also attacked Christian Punjabis in the state He even said he is not averse to using violence “Without violence nothing can be established and this has been proved across the globe, he had told the Hindu

However, more significantly, Amritpal Singh has also publicly supported demands for Khalistan For example in February, Amritpal Singh told India today that people’s sentiments about Khalistan cannot be suppressed “Nationalism is not sacred, Amritpal Singh said Democracy should have different views It is not about Amritpal the Khalistan sentiment will remain He had told news agency ANI in February that Khalistan is an ideology and “ideologies never die” “Our aim for Khalistan shouldn t be seen as evil and taboo, he said It should be seen from an intellectual point of view as to what could be its geopolitical benefits ”

Similarly, NewsClick quoted him as claiming in early March, We want the entire territory where Punjab used to rule earlier; first we will take it from India and then we will go to Pakistan also In an interview to Youtube channel KtV

soon after being elected Waris Punjab De s leader in March 2022 Amritpal Singh had alleged that India had colonial rule” over Punjab Amritpal Singh

also reportedly urged Punjab s youth to remain in the state to fight, what he called, the “battle for its freedom”, instead of migrating abroad

Often escorted by armed supporters he calls Bhindranwale an inspiration and dresses like him “I will walk the path shown by [Bhindranwale] ” Amritpal Singh had previously said about him being compared with Bhindranwale I want to be like him because that’s what every Sikh wants but I am not copying him I am not even equal to dust on his feet

His installation ceremony as Waris Punjab De’s chief was held in Bhindranwale s village Rode where a resolution was passed asking the government not to take any legal action against youth waging a “peaceful struggle for Khalistan”

Such public calls for Khalistan, reviving memories of the separatist movement-linked insurgency the state faced in the 1980s and the early 1990s have led to broader concerns about Punjab s law and order thousands were killed over those years

CASES AGAINST AMRITPAL

SINGH: Consequently, even before Saturday’s operation Amritpal Singh had attracted police attention He had already been reportedly named in four criminal cases pertaining to spreading disharmony attacking police officials obstructing lawful discharge of duty by public servants and attempt to murder

Similarly there is reportedly a case against Waris Punjab De s functionaries over Amritpal Singh and his supporters storming the Ajnala police station on February 23 to demand the release of his close aide, Lovepreet Singh toofan toofan had been arrested in an alleged kidnapping and assault case in which Amritpal Singh and several others were also named Several police personnel were injured during the ensuing violent clashes between the police and Amritpal Singh s supporters

Amritpal Singh had threatened to stage a permanent dharna at the police station if toofan was not released and the first information report was not cancelled the police later released toofan It is unclear if the kidnapping and assault case itself was quashed It is also unclear in which of the aforementioned cases the police are seeking his arrest Nevertheless Amritpal Singh drew even more attention because of the Ajnala incident News reports suggest that Amritpal Singh was being monitored by intelligence agencies Some including Punjab Chief Minister Bhagwant Mann, have claimed that Amritpal Singh is backed by Pakistan

X I S Ay S C

H I N A T o e X PA N d C o o P e R AT I o N w I T H R u S S I A I N T R A d e A N d e N e R g y

mOsCOW

CHINESE President Xi Jinping said on Tuesday that China is ready to expand cooperation with Russia in trade investment supply chain mega projects energy and hi-tech areas while meeting with Russian Prime Minister Mikhail Mishustin in Moscow

Since last year, in the face of the complicated external environment, the all-round practical cooperation between China and Russia has kept a sound momentum Xi told Mishustin speaking highly of bilateral cooperation in energy mega projects and people-to-people exchanges

Xi said that China and Russia are each other s largest neighbors and comprehensive strategic partners of coordination saying that maintaining the healthy and stable development of China-Russia ties conforms to the historical logic of bilateral relations and the fundamental interests of their peoples

The 20th National Congress of the Communist Party of China (CPC) has been a success and not long ago new leaders of China’s state institutions have been elected during this year s Two Sessions said Xi adding that the CPC the country and the Chinese people are unprecedentedly united and are advancing

the Chinese modernization in an allround way

The Chinese government highly regards the development of China-Russia comprehensive strategic partnership of coordination and is willing to work with the Russian side to push for the realization of new goals of bilateral cooperation

Bank Alfalah Commits RS49m to build schools in flood-hit areas

and achieve new results through regular meetings between the Chinese premier and the Russian prime minister, as well as other institutionalized communication channels

For his part Mishustin first spoke highly of the Russia-China relationship in the new era as Xi chose Russia to be his first overseas state visit after reelection It means a lot said the Russian prime minister He also said that the relationship between Russia and China right now stays at the highest level, which will be conducive to preserving multilateralism and promoting the world s multi-polarization under the current international situation Russia hopes to maintain close coordination and cooperation with the Chinese government, and strengthen bilateral comprehensive strategic partnership of coordination he added while looking to advance bilateral cooperation in sectors including trade investment energy natural gas peaceful use of nuclear energy aviation and aerospace among others

Cryptoverse: Bitcoin successfully passes bank ing crisis stress test

NEW YORK r e u t e r S

As crisis stalks the traditional world of stocks and bonds bitcoin is suddenly looking like a safe haven

The infamously volatile cryptocurrency seems positively hale and hearty just as a banking meltdown drives markets into the arms of a recession

Bitcoin has risen 21% this month, while a choppy S&P 500 has lost 1 4% and gold has gained 8%

“If you were going to describe an environment where there were successive bank runs because central banks are trying to fight inflation with fast rate increases that is pretty close to as spoton a thesis for owning bitcoin as you ve ever heard said Stéphane Ouellette CEO at digital asset investment platform FRNT Financial

The cryptocurrency has for now severed its ties with stocks and bonds and tagged on to a rally in gold, fulfilling at least one part of creator Satoshi Nakamoto’s dream – that bitcoin can serve as a refuge for suffering investors

Bitcoin s 30-day correlation with the S&P 500 has slid to negative 0 12 over the past week, where a measure of 1 indicates the two assets are moving in lockstep

A selloff in banks has wiped out hundreds of billions of dollars in market value and forced US regulators to launch emergency measures

The past couple of weeks have seen Silicon Val-

ley Bank and crypto lender Silvergate go under while Credit Suisse has teetered on the brink

‘RetuRn to coRe ethos’

Let s not be carried away, though

This is bitcoin

“The bearish argument would be that these dynamics are temporary, and ultimately this rally is not going to sustain ” said Ouellette

It remains to be seen if bitcoin’s bullishness will endure as attention shifts to the Federal Reserve s policy meeting this week where the U S central bank must walk a fine line as it fights inflation and bank stresses

Furthermore the cryptocurrency s allure hasn t all been about safety

Indian state extends internet ban in hunt for Khalistan leader

NEW dElHI

a f p

Indian authorities extended a mobile internet blackout across a state of about 30 million people as police hunted a Sikh preacher The blackout extension came after suspected supporters of Amritpal Singh, 30, were filmed vandalising India’s consulate in San Francisco A similar disturbance also took place in London Authorities in the northern state of Punjab launched a major search on Saturday for Singh who has risen to prominence in recent months demanding the creation of Khalistan a separate Sikh homeland Police said on Monday they had arrested 114 people so far but Singh s whereabouts were unknown The internet outage originally in place until noon (0630 GMT) on Monday, was extended for another 24 hours Videos posted online, and independently verified by AFP, showed men smashing doors and windows at the Indian consulate in San Francisco after they broke down barricades set up outside the building The phrase #FreeAmritpal had been sprayed on the property as several dozen protesters gathered outside Indian media reported that the vandalism had taken place late Sunday India registered a “strong protest with the State Department as well as the US embassy in New Delhi The US government was reminded of its basic obligation to protect and secure diplomatic representation the country s foreign ministry said in a statement late Monday

The rapid price rise has forced some short-sellers to cut their bets and buy coins back Data from Coinglass shows traders liquidated $300 million worth of crypto positions on Monday with most of that total – $178 5 million – short positions

Nonetheless bitcoin is resurgent

It now commands nearly 43% of the total crypto market its highest share since last June according to CoinMarketCap data while the total cryptocurrency market s capitalization has jumped 23% to $1 1 billion since March 10

We re seeing a return to bitcoin s core ethos, that of a financial asset independent from the opacity and meddling of the centralized financial system,” said Henry Elder, head of decentralized finance (DeFi) at digital asset investment manager Wave Digital Assets

The mainstream bank crisis has also fueled some interest in DeFi with the total value of tokens linked to such platforms rising to $49 billion from $43 billion over the past week according to DappRadar

Islamabad S ta f f r e p o r t

The US 2022 Country Reports on Human Rights

Practices are full of lies and ideological bias and the clichés are repeated year after year and are not even worth refuting, said Chinese authorities on Tuesday

What the world can see from this year s reports are not human rights practices in various countries, but the hegemonic and bullying practices and double standards of the US itself, Chinese Foreign Ministry spokesperson Wang Wenbin said on Tuesday at a regular press conference when asked for comments on the reports Released on Monday the reports cover 198 countries and regions The report on the Chinese mainland has 87 pages and contains groundless accusations of so-called genocide and crimes against humanity in China s Xinjiang region as highlighted in the preface which encountered strong dissatisfaction from Chinese authorities and experts

The US has long taken itself as a beacon of human rights and often wantonly criticizes the human rights situation in other countries But in fact, human rights are just a tool the US uses to unite its allies and partners together to suppress its dissents, Jia Chunyang, an expert at the China Institutes of Contemporary International Relations, told the Global Times on Tuesday The reports also listed some so-called human rights violations of Chinese governments in the Hong Kong Special Administrative Region (HKSAR)

In response the office of the Commissioner of China s Foreign Ministry in the HKSAR also expressed strong opposition on Tuesday The reports wantonly smear the situation of

Bitcoin in a Bank cRisis: Not all areas of the digital world have been immune to the banking fallout, though The no 2 stablecoin Circle USD or USDC lost its 1:1 peg to the dollar after disclosing its reserves were parked at the shuttered Silicon Valley Bank

As worries spread over USDC s ability to maintain its peg its market cap slid to $36 8 billion last Friday from $43 8 billion a week earlier even as leading stablecoin Tether gained around $4 billion

Market participants said some USDC withdrawals were likely reinvested in bitcoin as well, helping fuel the rally “It’s too soon to say that bitcoin has proven the narrative that it’s an alternative in a banking crisis ” cautioned Ed Hindi Chief Investment Officer at Tyr Capital in Geneva

But he added: The rally we are currently witnessing in bitcoin will be looked back at as the point in time where its main property as a decentralized non-sovereign asset was stress tested

human rights and the rule of law in Hong Kong, viciously slander the national security law for Hong Kong and the new electoral system for the city as well as slander the HKSAR government’s law-based governance the spokesperson of the office said in a statement released on Tuesday It is naked intervention in Hong Kong-related affairs and China s domestic issues the spokesperson said noting that related contents in the reports are just a patchwork of disinformation

So-called human rights suppression is just USstyle discrimination and an unwarranted charge The human rights standards that the US forcibly put on others are just its political tools to suppress dissent and seek hegemony, the spokesperson noted Washington’s so-called human rights reports have been published for nearly 50 years, according to the US Department of State Countries listed by the US as “unfriendly countries” and competitors are often on the list while the “friends” of the US have almost never been on it experts pointed out

This demonstrates that for Washington whether a country has human rights and whether it is democratic depends on whether it is obedient to the US and whether it cooperates with the US in geopolitics

Human rights have become a bargaining chip in trade, aid and diplomatic relations, and the so-called yearly reports have become the US price list to coerce and extort other countries, and they are also a brochure to demonize and suppress competitors, experts noted

On the same day the US released the human rights reports, which ironically marked the 20th anniversary of the US-led invasion of Iraq China also released a report further unveiling the decline of American democracy and the chaos it has brought to the world under its disguise It is impolite not to reciprocate While the US is keen on finding problems for other countries China s report helps the world recognize the US real face Wang said at the Tuesday press conference

KaRaCHI

Bank Alfalah, the biggest corporate donor for the floodaffected communities, has partnered with The Citizens Foundation (TCF) to fund the construction of a primary school in Asif Nagar in Nawabshah, Sindh, for PKR 49 million Bank Alfalah s contribution towards rebuilding schools is particularly noteworthy given that more than 25 000 schools have been damaged in Pakistan The donated amount will facilitate the building of a TCF primary school contributing to the organisation s efforts to increase literacy in areas where education is hindered by flood damage The signing of the agreement was held at the TCF s headquarters in Karachi in the presence of Atif Bajwa-President and CEO of Bank Alfalah, along with Asad M Saleem - Co-founder and Chairman of the Board, Ateed Riaz-Co-founder and Zia Akhtar Abbas- Executive Vice President among other notables from both the organisations

Tech Valley leads way as system integrator to improve digital education in Pakistan

Haleon Pakistan, Smile Train par tner to provide Care for children born with Clefts

KaRaCHI S ta f f r e p o r t

Haleon Pakistan Limited (formerly GlaxoSmithKline Consumer Healthcare Pakistan Limited) has announced a partnership with leading global cleft charity, Smile Train, raising funds through its leading Oral Care brands, Sensodyne and Parodontax Annually, 1 in every 600 children in Pakistan are born with cleft lips and palates In most cases these children face difficulty in eating speaking and breathing and are subjected to social stigma The partnership between Haleon Pakistan and Smile Train will help children born with cleft lips/palates to lead full and productive lives achieving their own potential and contributing to their community Smile Train provides training and education to local medical professionals and supports 100%-free cleft surgery and comprehensive cleft care to children all over the world including orthodontics, speech therapy and psychosocial support The partnership between Haleon Pakistan and Smile Train was announced at a press event in Karachi Panelists at the event included Farhan Haroon, CEO and General Manager of Haleon Pakistan, Professor Dr Mirza Shehab Afzal Beg MBBS FRCS (Ire) FRCS Plastic Surgery UK and Ire) Ms Amina Mujib Khan Integrative Nutrition Health Coach & Weightloss Consultant and Ms Hima Raza a makeup artist whose child was born with a cleft lip

Bank ABC par tners with Temenos & NdcTech to implement next-generation core banking system

KaRaCHI S ta f f r e p o r t

Bank ABC one of MENA s leading international banks has signed agreements with Temenos and NdcTech to replace its core banking systems for its retail, corporate and wholesale businesses and power its subsidiary, ila Bank, the MENA region’s fast growing digital mobile-only bank, with Temenos’ core banking platform on the Cloud With this transformation project, to be implemented by NdcTech (a Systems Limited Company), Bank ABC will replace its legacy core banking systems for its network of operations serving customers in twenty-five markets from fifteen countries worldwide with a single instance of the Temenos platform NdcTech will also be providing end-to-end managed services to enable Bank ABC to run its operations seamlessly on the cloud Consolidating multiple back-end systems on the Temenos platform in the Cloud will enable Bank ABC to drive scalable efficiency, with a single dashboard and complete 360- degree customer view across business lines and geographies The first phase of the project is the implementation of Temenos retail core banking solution and origination on Infinity for ila Bank

Bank AL Habib Ltd declares 70pc cash dividend

a b i b L i mi t e d w a s h e l d a t i t s R e g i s t e r e d O ff i c e i n M u l t a n o n M a r c h

T h e s h a r e h o l d e r s a p p r o v e d t h e A nn u a l A c c o u n t s f o r t h e y e a r e n d e d D e c e m b e r

h e p a y m e n t o f 7 0 % C a s h D i v i d e n d ( F i n a l ) w a s a l s o a p p r o v e d D e p o s i t s o f t h e B a n k a s o n D e c e m b e r

t r i l l i o n a n d P r o f i t a f t e r t a x w a s

Iran counts on ‘ huge volumes ’ of oil and gas swaps from Russia

US human rights repor ts full of lies, ideologic al bias: C hinese FM

corporate corner

PC Board meeting reviews ongoing transac tions

ISLAMABAD: Privatisation Commission (PC) Board meeting was held today in Islamabad under the Chairmanship of Mr Abid Hussain Bhayo Chairman PC Board Board members Federal Secretary, Privatisation Commission and senior officials of the ministry were also present The Board was briefed about the ongoing transactions and the matters requiring attention of the Board and the line ministries The Board was briefed about the report of the pre-qualification committee for privatisation of House Building Finance Company Limited (HBFCL) which has been part of the active business plan and requirements pr

Balochistan CS, RTO DG meet to disc uss various measures

ISLAMABAD: A meeting was held between Chief Secretary Balochistan Mr Abdul Aziz Uqaili and Director General (Digital Initiatives) Mr Abdul Wahid Uqaili and Officers of Regional Tax Office Quetta, FBR, at Civil Secretariat, Quetta

During the meeting, various matters including FBR’s assistance to employees of Government of Balochistan in filing their tax returns measures to contain passage of non-tax stamped sugar bags through Quetta for possible smuggling and tax evasion, restoration of land allotted to FBR in Hub Industrial Estate and conversion of land allotted to FBR s Tax Facilitation Center (TFC) in Gwadar falling in residential area came under discussion pr

COMSATS, WBAF sign LoI for collaboration in Science & Technology

RamPant boRRoWing by SoES: a CauSE foR ConCERn

islamabad n e w s d e s k

tH E Express Tribune s editorial on Tuesday highlighted Pakistan’s SOEs’ borrowing blitz as The loss-making entities have set a new record by borrowing a staggering Rs142 billion in just the first eight months of this fiscal year (8MFY24)

This trend is remarkable not only b e c a u s e i n t e r e s t r a t e s a r e c u r r e n t l y s k y - h i g h d i s s u a d i n g m o s t o t h e r

companies from borrowing but also because SOEs only borrowed Rs2 5 b i l l i o n d u r i n g t h e s a m e p e r i o d l a s t y e a r D e s p i t e t h e o n g o i n g a u s t e r i t y m e a s u r e s i n P a k i s t a n w h i c h a r e m e a n t t o s t a b i l i z e t h e e c o n o m y, these lossmaking SOEs are adding to t h e n a t i o n a l e x c h e q u e r s b u r d e n W h i l e s o m e S O E s a r e s u p p o s e d t o p r o v i d e s u b s i d i z e d p u b l i c s e r v i c e s , the majority of major loss makers do n o t o ff e r a n y p u b l i c s e r v i c e s t h a t

Balancing shor t term interests with long term vision

islamabad n e w s d e s k

Writing for Dawn Mushtaq Khan discusses the issue of Pakistan's impending sovereign default and explores the reasons behind it

Over the past seven years, Pakistan has accumulated a current account deficit of $74 5 billion with the State Bank's forex reserves dropping by $3 6bn during this period To finance this deficit, Pakistan has borrowed $65bn as foreign investment has not been enough to cover the external deficit

The lack of investment in building a dollar repayment capacity has led to an unsustainable external sector with Pakistan now facing the challenge of reducing imports to balance the deficit The government has taken emergency measures but the IMF is against ad hoc measures and is pushing for a more orthodox policy to reduce import demand This however presents challenges as it could lead to inflation undermine the banking system, and create loan defaults

Will China save Pakistan from default as a geopolitical ally?

islamabad

ISLAMABAD: The Commission on Science and Technology for Sustainable Development in the South (COMSATS) signed a Letter of Intent (LoI) with the World Business Angels Investment Forum (WBAF) to set in motion a process towards formalizing cooperation in science and technology through concluding an MOU, subsequently The MOU, to be concluded, would be a framework aimed at supporting R&D institutions, research scholars, innovators, start-ups academics and entrepreneurs in COMSATS member states pr

PNY Group of Companies inaugurates

consisted of 40+ companies different workshops award ceremonies to boost new ideas in the market, 50+ guest speakers and renowned names as guests of honor; Muhammad Usman Sheikh (Founder and CEO OZI Group| Director Jolta Electrics) Saadia Temur (President PML (N) Women Wing Lahore) , Adeel Asghar (Registrar ITU) and Malik Amer Salam (Chairman Corporate Relationship, Marketing Association of Pakistan Lahore) pr

Sharing ease among people best worship: Firdous Ashiq Awan

L A h o r e: Sharing ease among human beings is also a great blessing and a popular worship The modern medical facilities available for the poor and deserving patients in Dr AQ Khan Hospital Trust and the free medicines available there are a great blessing Dr AQ khan Hospital Trust has become a trust uniform for donors based on his tireless service to humanity Remember that whatever blessing we have is more than our needs we can fulfill many needs of others with it The biggest emirates and buildings are limited to worldly life, those who spend their wealth to do deeds, they do not have to face any kind of shortage throughout their life pr

Nova City holds commercial balloting

ISLAMABAD (Special Representative)

To find a middle ground policymakers must identify winning and losing sectors and develop a long-term strategy that includes import substitution to reduce dependence on imports

Pakistan s reliance on remittances as a major source of foreign exchange earn-

ings is also problematic While remittances have helped sustain the country s external sector, they are not a long-term solution The government must focus on creating an environment that fosters sustainable economic growth, which in turn will attract foreign investment and create more job opportunities for its citizens

One potential solution to Pakistan s economic challenges is to focus on developing its domestic industries particularly in sectors where the country has a comparative advantage This will require a significant investment in education and training as well as regulatory reforms to promote innovation and entrepreneurship

Another key area for improvement is the energy sector Pakistan has been struggling with power shortages for years which has stifled economic growth and deterred foreign investors The government must prioritize investments in renewable energy sources and infrastructure to ensure a stable and reliable energy supply

The challenge is to balance the needs of the people with the short-term interests of the elite and work towards a stable and growing economy that benefits everyone

While the road ahead may be difficult it is important for policymakers to prioritize long-term economic stability and growth for the benefit of all Pakistanis

To read the full article visit www dawn com pk

n e w s d e s k Bloomberg economists Ankur Shukla and Abhishek Gupta on Tuesday noted that China is likely to assist Pakistan if the International Monetary Fund (IMF) fails to release funding

While the IMF is expected to deliver the remaining $2 6 billion in aid to Pakistan under the current bailout program by June, Shukla and Gupta warn that the country could be facing a potential default as soon as June unless it secures aid If the aid from the IMF does not materialise, China is expected to step in to plug the funding gap to head off a default Pakistan is a critical strategic partner of China in the region As the world’s second-largest economy China has invested billions of dollars in significant infrastructure projects under the multi-billion dollar China-Pakistan Economic Corridor (CPEC) project which is a major component of China's ambitious Belt and Road Initiative (BRI) A default by Pakistan could pose a threat to Chinese strategic interests, which is why China would have much to lose if Pakistan defaults on its debt obligations Bloomberg economists argue that broader strategic considerations might tip the odds toward China playing a constructive role in helping Pakistan weather the crisis In addition to investments, China has rolled over its funds to provide cushion to the depleted foreign exchange reserve position of Pakistan which stood at $4 3 billion as of March 10

Last week China provided a loan tranche of $500 million to Pakistan, which is the second disbursement of the $1 3 billion rollover facility from China's ICBC However even with China s support Pakistan still needs to clear its funding crunch which includes $7 billion in external debt repayments due by June and a $1 2 billion hole in its current account to fill over March to June

The government assumes that it will be able to roll over $4 billion of its debt and squeeze by with its small reserve cushion If other creditor nations, including Saudi Arabia, that have pledged to support Pakistan, do not agree to roll over their loans, the country will probably need to seek another IMF bailout program or more external aid from allies to avoid default next fiscal year

To read the full article visit www bloomberg com

Pak-US Relations: The Way For ward

islamabad s ta f f r e p o r t

Our strong enduring partnership will continue to improve the lives of Pakistanis and Americans and have a positive global impact The U S -Pakistan Green Alliance Framework is a

RIU organizes S pring Festival

prime example These were the views shared by United States Ambassador to Pakistan Donald Blome, at the CASS Ambassador Lecture on ‘Pak-US Relations: The Way Forward’ organised by the Centre for Aerospace & Security Studies, here in the capital Ambassador Blome, a seasoned diplomat, who earlier served in Tunisia discussed the 75 years of bilateral relations between the two countries especially decades of development assistance which had supported the construction of schools hospitals and built highways throughout the country as well as education through its scholarship programmes He appreciated the important role being played by Pakistani Diaspora in business and government who had built a network of personal and professional connections that had established a strong foundation for the US-Pak relationship

Riphah International University organized a Spring Festival 2023 at All-Female Campus located in the Gulberg Greens Islamabad More than 500 students participated in various activities offered by this event

The aim of this event was to celebrate the International day of Happiness through a series of vibrant activities including the Happiness Summit, Cooking Competition Short Marathon Food Stalls by Students and Poster Exhibition For the commencement of the Happiness Day celebrations, Happiness Summit was held as an exceptional chance to acquire knowledge on happiness skills such as Gratitude, Human Connection pr

Carrefour and Alkhidmat par tner to lend helping hand to those in need

islamabad p r

On the instructions of Government of Pakistan and Federal Minister for Energy Power Division, Engineer Khurram Dastgir Khan IESCO management has made comprehensive arrangements for provision of uninterrupted power supply in the month of Ramadan especially 1 hour before and 1 hour after Sehar while 1 hour before and 3 hours after Iftar Central Control Room has been established where senior officers and staff will available 24 hours and where Power Continuity faults of system and its clearness will be moni-

tored on more than 1300 11KV feeders and 116 grid stations IESCO Chief Executive Dr Muhammad Amjad Khan and Operations Director Muhammad Aslam Khan will monitor all activities directly All field formations have been provided additional transformers, power cables, transformer trolleys meters and other material to clear any fault or complaint without any delay All XENs and SDOs have been warned to make the Complaints Offices more functional and enable prompt redressal of electricity-related complaints of consumers and will also ensure that the telephone numbers of the Complaints Offices are not kept unnecessarily busy

Motor Wins Multiple CSR Accolades

LAhore: Carrefour owned and operated by Majid Al Futtaim in Pakistan has teamed up with Alkhidmat Foundation for the provision of humanitarian aid The collaboration is set to provide meals to the less privileged during the month of Ramadan in Pakistan and to support the victims of recent earthquakes in Türkiye and Syria The bipartite memorandum of understanding was signed by Majid Barzegar District Manager of Carrefour Pakistan and Engr Ahmad Rashid, President AlKhidmat Foundation Lahore during a special ceremony held at Head Office of AlKhidmat Foundation in Lahore pr

Imran reiterates danger to his life as LHC grants him bail in two cases

LAHoRe S ta f f R e p o R t

DE S P I T E the challenging economic and political conditions, foreign direct investment (FDI) increased by 10% compared to the same month last year in February

However, the overall FDI inflows for the first eight months of the fiscal year fell by over 40%

In this regard the State Bank of Pakistan (SBP) released data indicating that FDI had been declining since the beginning of the financial year prima-

rily due to economic vulnerability and political uncertainties

China led the list of FDI inflows with $22 7 million last month, and from July to February the FDI inflows from China were $222 8 million the highest inflow from any one country Nevertheless, Chinese inflows were lower than last year ’s $366 million Japan and Switzerland were the two other significant sources of FDI, with $134 million and $123 million respectively

During the first eight months of the current fiscal year (8MFY23), total FDI inflows were $784 4 million, compared

to $1 315 billion in the same period last year representing a 40 4% decrease

The Pakistani rupee has been struggling to stay within the current range of Rs280 against the US dollar due to rising demand and poor foreign exchange reserves, leading to rupee depreciation

value internationally I m p o r t e r s a r e p u r c h a s i n g d o l l a r s f r o m i l l e g a l m a r k e t s t o s u s t a i n t h e i

x c h a n g e c o m p an i e s q u o t e d t h e d o l l a r p r i c e a s

The Lahore High Court (LHC) on Tuesday granted protective bail to Pakistan Tehreek-i-Insaf (PTI) chairman Imran Khan in two terrorism cases filed against him in Islamabad

The cases were registered following last week’s clashes at the Federal Judicial Complex where the former prime minister and his supporters were accused of attacking police and causing unrest during the hearing of Toshakhana case on March 18

T h e F I R s w e r e f i l e d a t t h e C o u n t e r- Te r r o r i s m

D e p a r t m e n t ( C T D ) a n d t h e G o l r a p o l i c e s t a t i o n s i n t h e c a p i t a l

The two-member LHC bench comprising Justice Shehbaz Rizvi and Justice Farooq Haider granted Khan protective bail in the terrorism cases until March 27 Khan arrived at the court at around 1:00pm, accompanied by the party’s senior vice president Fawad Chaudhry lawyers and security guards His vehicle entered the LHC via the Mosque Gate

During the proceedings Khan reiterated his claims of being in danger saying that the current rulers want to kill him and that a trap was laid at the Islamabad complex during the Toshakhana hearing

WA J I H A A N WA R R I S E S F R O M LO W E R TO S E N I O R M O S T G R A D E S W I T H I N 15 Y E A R S , A L L E G E D LY D U E TO I R R E G U L A R P R O M OT I O N S

PR ofIt RePoRt I S L a M a B a D

A female officer from Sui Northern Gas Pipelines Limited (SNGPL) has allegedly earned many out of turn promotions and irregular increases in salary, it was learnt on Tuesday According to sources Wajiha Anwar had joined SNGPL in 2008 as Executive Law Officer with a basic salary of Rs 63,870 and her salary was revised to Rs 75 160 along with other officers in 2011 During the same year she was promoted to Grade 5 with a revised basic salary of Rs 80,420 and then two years later, in 2013, she was re-designated as Company Secretary From here she was given so many promotions which cannot be justified under law and circumstances said sources In 2013, she was promoted to Grade 6 before completion of the ‘parking period’ with a revised salary of Rs 104 700 The following year her salary was once again revised to Rs 177,355 and then in 2015 she was again promoted to Grade 7 It seems her luck ended here as the accelerated promotions caught the attention of Director General (DG) Audit they added Wajiha Anwar who rose from lower grades to senior most grades within 15 years services all allegedly due to irregular promotions and salary increments ” said sources In a country like Pakistan government officers can only wish to get promoted on time This is not just to show their work and their years in service but also so that they retire in the highest possible grade But Anwar has received the kind of special treatment that an officer can only wish for, sources added According to them, the SNGPL’s HR manual dictates that a three-year service in Grade 6 is mandatory to be eligible for promotion to grade 7 Similarly, the manual clearly states that salary can be reviewed on an annual basis only In Anwar ’s case however the manual stands nowhere as her salary was revised 16 days after her promotion to Grade 6 Not just this but she was promoted to Grade 7 just after six months of her promotion to Grade 6 DG Audit’s report claims that due to the irregular increments, she was getting a basic salary of Rs 303,930 by July 2016 The same report further says that due to repeated out of turn promotions and increments her gross salary which also includes 45% house rent and 10% utility allowances, increased manifold

According to more details in the copy of the audit report available with Profit her basic salary couldn’t be more than Rs 144 695 even if she was given maximum increment as per the company s service rules but she was paid additional Rs 6 292 million through irregularities Sources also claimed that Wajiha was promoted to Grade 8 but the notification of which has not been issued till date

Inside sources claim that Wajiha had allegedly developed a nexus smartly with the private directors of SNGPL Board of Directors for all such gains And, in return she helped them in re-electing to the board through proxies using different CNICs and fake signatures which can still be verified from the company physical records They said that Wajiha had also allegedly helped in increasing directors’ fee from Rs 5 000 to Rs 125 000 They said during her tenure as Company Secretary, a whopping 300 meetings of the Board took place so that her favorite directors may reap maximum benefits through the revised fee The issue of her irregular promotions is now under enquiry said sources It is also learnt from other sources that Wajiha was not only working as principal advisor to the then Managing Director (MD) of SNGPL Ali Javaid Hamdani but in fact a de facto MD on her own

During Hamdani s tenure, she was first made GM (BDCorporate) while additional charges of GM (Lands) and even SGM (BD) were also given to her Despite repeated attempts to have a conversation with Wajiha Anwar, she preferred not to appear/speak till the filing of this story

In separate notifications to the Pakistan Stock Exchange Ghandhara Tyre & Rubber Company and Hinopak Motors have non-production days (NPD)

Ghandhara will observe the NDPs from March 24 to April 3 whilst Hinopak will observe NPDs from March 24 to April 4 Both companies have attributed their decision to their inability to import the requisite raw material needed to maintain their production levels

Why can they not import the requisite raw materials?

The State Bank of Pakistan (SBP) announced

EPD Circular Letter No 20 of 2022 on December 22 2022 as a substitution to its governance over the import of products under Chapters 84, 85, and certain items of Chapter 87 This new system empowered authorised dealers (banks) to validate all transactions for these imports, providing some solace to the ailing automotive industry that had been gravely impacted by the prior mechanism

Authorised dealers were however instructed to prioritise essential imports over those aligned with conspicuous consumption, prompting concerns about the depth of relief the automotive industry would receive in the immediate future Firms that were able to obtain raw materials from their foreign suppliers on usance letters of credit or were able to meet their payment obligations out-

side of Pakistan were to also be given preference

The circular however explicitly created a hierarchy of imports which evidently has not benefited Ghandhara Nissan, and Hinopak Another ones bites the dust Ghandhara s and Hinopak s decision comes the week after Suzuki decided to halt motorcycle production for the remainder of March for the very same reasons Previously Honda had announced to observe the industry s longest spell of NPDs amidst the current crises from from March 9 to March 31 Ghandhara’s sister company Ghandhara Nissan has also observed NPDs from March 6 to March 10, with the decision to shift to a bi-weekly production schedule for the remainder of March Agriauto Industries also announced a partial shutdown for the entirety of March last week whilst Sazgar announced its first ever plant closure for its four wheel division from February 27 to March 4

Going further back this year Ghandhara Tyre itself observed NPDs from February 13 to February 17 Suzuki, in contrast has announced plant closures previously from January 2 to January 6 from January 9 to January 13 from January 16 to January 20, and from February 13 to February 21

Toyota too observed plant closures from February 1 to February 14 with the decision to shift to a single shift upon the resumption of regular production from February 15 Finally, Millat Tractors also observed a plant closure from January 6 January 15

CO M PA N Y ’S F I N A L E A R N I N G S F O R 2022 C LO C K E D I N LO S S O F R S 6 3 B

Da n I ya L a h M a D

Suzuki announced their year annual earnings for 2022 in a notification to the Pakistan Stock Exchange (PSX) The company ended 2022 with a loss of Rs 6 3 billion This is the lowest the company s profits have fallen/or losses have risen in the past seven years The loss is in spite of the fact that Suzuki was able to sell 7% more vehicles in 2022 compared to 2021 based on the sales data provided by the Pakistan Automotive Manufacturers Association (PAMA) The motor company saw a year-on-year increase (YoY) 26% in both its sales revenue and cost of goods sold, whilst it ended the year with a 43% YoY increase in its gross profit Gross profit clocked in at Rs 11 68 billion compared to the Rs 8 17 billion seen at the end of 2021 Similarly the gross profit margin rose from 5% in 2021 to 6% in 2022

Similarly, it saw 9% and 19% YoY increases in its distribution and marketing expenses and its administrative expenses respectively However the company s earnings would have remained higher irrespective of these increases had it not been for the increase in the cost of finance Suzuki saw its cost of finance increase by 1476% YoY from Rs 737 million in 2021 to Rs 11 6 billion in 2022 This increase is so staggering that Suzuki released a separate notification to the PSX explaining the matter

The notification stated how Suzuki owes foreign entities $184 million as of December 31, 2022 which increased to $218 million after the year-end Until December 31 2022 the Company lost Rs 3 55 billion due to unfavorable exchange rates when conducting transactions and holding

balances in foreign currencies Since the year-end the Pakistani Rupee has further depreciated against the US Dollar, resulting

Pa k i s t a n ’s C A D d e c l i n e s b y 6 8 p c i n f i r s t e i g h t m o n t h s o f F Y 2 3 D E S P I T E D E C L I N E I N C A D, PA K I S TA N S T R U G G L E S TO M E E T D E F I C I T D U E TO LO W F O R E I G N E X C H A N G E R E S E R V E S I N F LO W S TOTA L $784 4 M I N 8 M F Y 23 CO M PA R E D TO $1 315 B I N S A M E P E R I O D L A S T Y E A R B OT H CO M PA N I E S S E T TO B E C LO S E D F O R L A S T W E E K O F M A R C H W I T H P R O D U C T I O N R E CO M M E N C I N G I N F I R S T W E E K O F A P R I L LAHoRe Da n I ya L a h M a D

SNGPL’s secretar y earns out of turn promotions, salar y increases PR ofIt RePoRt I S L a M a B a D During the first eight months of FY23 Pakistan s current account deficit (CAD) decreased by 68% to $3 8 billion from $12 billion in the same period last year February marked a significant improvement, with the CAD falling to just $74 million the lowest monthly deficit since February 2021 representing an 86% decline on a YoY basis The reduction in CAD was due to lower imports as there were no significant increases in exports or inflows However the government still struggles to meet the decreasing CAD due to low foreign exchange reserves Tahir Abbas Head of Research at Arif Habib Limited, stated that the primary reason for the decline in the deficit on a YoY basis was a 24% reduction in total imports Meanwhile total exports and remittances fell by 19% and 9% YoY, respectively The declining trend in

in an unrealized loss of approximately Rs 9 billion which could negatively impact the Company s financial position in 2023 If the Company is unable to pay off its foreign currency debt due to restrictions imposed by the State Bank of Pakistan it may suffer even more losses due to exchange rate fluctuations This could further harm the Company s financial position in the 2023 fiscal year In summary the Company owes a lot of money to foreign entities, and unfavorable exchange rates have resulted in losses for the Company The weakening of the Pakistani Rupee against the US Dollar has caused further losses which may harm the Company s financial position in the future If the Company

He had survived an assassination attempt last year and had blamed senior figures in the government and military for it Justice Sheikh inquired about the guards accompanying Khan to which Chaudhry replied that they were part of the former prime minister s personal security

However, the judge ordered the guards to leave, citing the presence of police officers for security

During the hearing Khan took to the rostrum and recounted the events of March 18, saying his wife, Bushra Maneka, was alone at home that day, but the police broke down the windows of his house

He claimed that obstructions were set up in multiple places to prevent him from reaching court Khan expressed his disappointment with the government’s behaviour saying that it sends the message that there is no rule of law

ISI Brigadier mar t yred, 7 injured in South Waziristan encounter

RAWALPINDI

ta f f R e p o R t

A brigadier from the Inter-Services Intelligence (ISI) was martyred during an encounter with “hardcore terrorists in South Waziristan s Angoor Adda confirmed the Inter-Services Public Relations (ISPR) on Tuesday In the statement, the ISPR said that an intense exchange of fire took place between the two sides adding that Brigadier Mustafa Kamal Barki was martyred while leading the encounter from the front and seven others were injured, including two who were critically wounded

The military s media wing said Brigadier Barki and his team put up a valiant resistance against the terrorists during the encounter and the officer sacrificed his life for peace of the motherland Defence forces of Pakistan and intelligence agencies pledge to reaffirm and demonstrate firm resolve to eliminate the menace of terrorism from every inch of the country the ISPR said

Three soldier martyred during DI Khan shootout Separately, the ISPR said three soldiers embraced martyrdom while three terrorists were killed during an exchange of fire in Khyber Pakhtunkhwa s Dera Ismail Khan district

Religious scholar assassinated in Karachi

KARACHI

S ta f f R e p o R t

Maulana Abdul Qayyum Sufi, a renowned cleric, was shot dead on Tuesday morning in the Gulistan-i-Jauhar neighbourhood of Karachi after morning prayers police said The police reported he was heading back home after prayers when two assailants on a motorcycle opened fire on him Sufi was a member of the Pakistan Ulema Council (PUC) and a prayer leader at Mohammadia Noorani Islamic Centre He was also the head of the Noorani Islamic Centre at Jamia Masjid Muhammadia

The police have launched an investigation to catch the attackers This incident follows the 2020 murder of Muhammad Adil, another religious scholar, and his driver who was gunned down by unidentified armed men in Karachi Adil was on his way when the attackers riding a motorcycle, opened fire on his vehicle in Shah Faisal Colony

the CAD during FY23 could result in a much lower deficit than last year s $17 4 billion However, experts predict that the CAD could still be

around $6 billion in FY23 which is problematic for Pakistan as the International Monetary Fund (IMF) has urged the government to arrange the necessary funds to meet the CAD by the end of FY23

Although China provided Pakistan with two tranches of $700 million and $500 million to improve foreign exchange reserves political uncertainties have made friendly countries hesitant to provide loans, fearing a potential default

The government has increased the interest rate to 20% to meet the IMF s conditions, which has adversely impacted the

country s trade and industry resulting in higher inflation of 30% Furthermore, to bring the fiscal deficit under control, the government has reduced the development budget slowing economic growth and creating joblessness

The balance of payments remains under threat as imports have remained double the value of exports during the July-Feb period

Imports of goods during the first eight months of FY23 stood at $37 88 billion while exports during the same period were $18 639 billion

The import of services during this period

was $5 118 billion against exports of services at $4 778 billion

Despite a significant reduction in the CAD, the government still struggles to meet the deficit due to the large trade deficit Imports of goods during the first eight months of FY23 fell by almost $10 billion, and exports by around $2 billion

However the poor export performance and high import costs prevent the country from finding balance on its external front

LAHoRe