Epaper_23-04-27 LHR

Thursday, 27 April, 2023 I 6 Shawwal, 1444

In par tnership with Profit

PARLIAMENT, NOT SC’S ‘ARBITRATION’ TO DECIDE ABOUT ELECTIONS: PM SHEHBAZ

g CABINET AGAIN OKAYS REFERRING OF FINANCE MINISTRY’S SUMMARY TO PARLIAMENT FOR RELEASE OF RS21B TO ECP

in connection with the election funds.

ISLAMABAD STAFF REPORT

PRIMEMinister Shehbaz Sharif on Wednesday said the Parliament would take a decision regarding the elections and the Supreme Court’s role was not that of an “arbitrator”, saying the ruling PDM alliance unanimously wanted elections on the same day across the country.

“The Supreme Court should not be given the right to arbitrate as it is there to only give verdicts as per law and the Constitution.”

Addressing separate huddles of the parties in the ruling coalition, PML-N parliamentary party and cabinet, the premier said elections were an issue that needed to be decided in parliament and the appropriate time to conduct them was either in October or November.

PM Shehbaz’s remarks came on the day which was the top court’s deadline to the government and the opposition PTI to hold talks to reach a consensus on a date for simultaneously holding countrywide polls or the elections in Punjab will be held on May 14 as per its earlier order.

The top court will continue hearing the elections delay case on Thursday (today) and seek a report on the progress of the negotiations between both sides.

The huddle of the allied parties was attended by Pakistan Democratic Movement (PDM) president and JUI-F chief Maulana Fazlur Rehman; PPP chairman and foreign minister Bilawal BhuttoZardari; former president of the country and PPP co-chairperson Asif Ali Zardari; his party leader Qamar Zaman Kaira; Balochistan Awami Party MNA Khalid Magsi; PML-N stalwart Sardar Ayaz Sadiq; MQM-P Convener Khalid Maqbool Siddiqui; BNP-M’s Agha Hassan Baloch; PML-Q leaders Chaudhry Salik Hussain and National Food Security and Research Minister Tariq Bashir Cheema; Federal Information Minister Marriyum Aurangzeb; Federal Communications Minister and JUI-F chief’s son Maulana

Asad Mehmood and Federal Law Minister Azam Nazeer Tarar among other key members of the ruling coalition.

Attorney General for Pakistan Mansoor Usman Awan also attended the meeting.

PM Shehbaz maintained that arbitration was not the job of the top court and it was only supposed to decide cases in accordance with the law.

“To act like a panchayat is not their job,” he underscored. “Their job is to decide matters as per the Constitution,” he added. The premier further said the decision of the three-member bench of the SC —

comprising Chief Justice of Pakistan Umar Ata Bandial, Justice Ijazul Ahsan, and Justice Munib Akhtar — to hold polls in Punjab on May 14 was not accepted by parliament.

PM Shehbaz added that the government still stood by its interpretation of the apex court’s earlier April 4 verdict as 4-3 and considered its 3-2 decision as “unconstitutional” and “illegal”.

However, the premier continued that the government wanted to take matters further with the three-judge bench, which on Thursday (today) had sought a reply

Govt can’t issue funds for elections without NA’s approval: Dar

ISLAMABAD STAFF REPORT

PM Shehbaz said parliament was the supreme institution and its decisions had to be accepted.

“The issue of election funds will come back to parliament and it will resolve it,” he added.

The premier continued that the forum of parliament would be used in view of any possible court decision.

PM Shehbaz noted that parliament completed its term on August 13 and if 90 days were added to that, the date should come up to November or October.

The premier regretted that the PTI, instead of solving the challenges faced by the country, had “only exploited them further”.

“They told their own provincial finance minister to communicate to the IMF [International Monetary Fund] that they are unwilling to fulfil the conditions [set by the global lender],” he said.

“Pakistan had no shortage of issues and they only added to it by claiming that the US had conspired [to oust Imran Khan’s government]; and if that wasn’t enough, they shamelessly took a U-turn saying that the plot was not finalised in the US, but rather woven up in Pakistan,” he added.

CONTINUED ON PAGE 03

Coalition partners repose confidence in PM

ISLAMABAD: A meeting of the top leadership of coalition parties in the government on Wednesday unanimously decided holding of simultaneous elections on the same day throughout the country after the completion of the constitutional term of the incumbent government.

The leaders of the allied political parties decided that holding of elections on the same day after the completion of the present government’s tenure, was the main point which would serve as base for any formulated strategy in that regard.

The participants expressed their complete confidence in the prime minister and resolved their full support to him, besides giving him the authority to take decisions.

The allied parties expressed that they would fully back all the decisions taken by the prime minister.

The important consultative meeting of the leaders of

Pak-China military leadership reiterates need for maintaining peace in region

RAWALPINDI STAFF REPORT

Chief of Army Staff (COAS) General Asim Munir and the Chinese Army Commander on Wednesday discussed matters of mutual security interests and military cooperation.

The COAS, on the first day of his four-day official visit to China, was given a warm welcome and presented with the guard of honour at the PLA Army Headquarters. He reviewed the smartly turned-out contingent, which was later followed by a detailed meeting with the Commander of PLA Army, an ISPR news release said.

Besides discussing mutual security interests, both military commanders reiterated the need for maintaining peace and stability in the region, and enhancing military to military cooperation.

General Asim Munir also witnessed a demonstration of the operational capabilities of the PLA Army troops. He praised the high standards of training and the professionalism displayed by the PLA soldiers. The COAS will hold further meetings with Chinese military leaders to enhance the long standing relations between the two militaries.

coalition parties was held at the PM House with Prime Minister Shehbaz Sharif in the chair, the PM Office Media Wing said in a press release issued after the meeting.

The high-level meeting was attended by Pakistan Democratic Movement (PDM) chief Maulana Fazlur Rehman, former president Asif Ali Zardari, Pakistan People’s Party Chairman Bilawal Bhutto Zardari and other leaders.

During the meeting, the overall situation in the country was reviewed, particularly the matters which emerged after the decisions taken by 'a one-sided and controversial Supreme Court bench'. The meeting also mulled over taking forward of earlier initiated consultative process to holding of elections in the country on simultaneous day after the constitutional term of the incumbent government’s tenure.

Minister for Finance and Revenue Mohammad Ishaq Dar on Wednesday categorically said that holding of elections simultaneously in all provinces and centre was a constitutional obligation, saying the country could not afford elections in piecemeal. Speaking at the floor of the National Assembly, the minister said it was not for the first time that election was not being held within 90 days. In past, the election was delayed due to martyrdom of Benazir Bhutto in 2007 and due to natural calamity in 1988, he said.

He said the National Assembly has already rejected Rs 21 billion elections fund bill twice besides passing a resolution to reject a bill seeking election expenditure for Election Commission of Pakistan (ECP).

He sought the guidance of the members of the House, as the government could not release funds without approval of the National Assembly. The minister said an amount of Rs35 billion was being spent on the population census despite limited resources. Despite spending a hefty amount on the population census in 2017, two provinces expressed severe reservation and the then government had to convene a meeting of Council of Common Interests (CCI), he added. He said the general elections of 2018 were held on the basis of old census due to reservations of two provinces after bringing necessary legislation.

He said the government had allocated Rs5 billion for ECP in the fiscal budget for the year 2022-23. The ECP had raised a demand for Rs54 billion in the next fiscal year 2023-24 for holding general elections, he added. However, he said the Finance Division decided to allocate Rs47.4 billion to ECP for elections during next fiscal year 2023-24. Today, we would not face such a situation if Article 63 A was not rewritten, he said. He said new interpretation of Article 63-A caused anomalies and it was an attempt to create anarchy in the country. The ECP sought Rs21 billion for holding elections in Punjab and Khyber-Pakhtunkwa, he added. He said Rs 14.4 billion additional would incur on holding separate elections in the provinces. The Finance Ministry could allocate fund for elections in the budget and without budget, allocation could only be done through supplementary grants. The Finance Ministry mostly discouraged practice of supplementary grants in order to ensure financial discipline, he added. He went on to say that the Finance Ministry always followed constitution and law for payment of funds. The State Bank of Pakistan (SPB) could only allocate fund but it could not released it, he added. The Finance Division could not release funds without approval of the parliament, he added. Ishaq Dar said this august house has passed a resolution with regard to payment of funds to ECP for elections, adding the Finance Ministry was bound not to pay the amount.

Six Balochistan cops martyred in Jacobabad gunbattle

Six Balochistan policemen, including an inspector, were martyred and two others injured during an encounter with dacoits in Jagir area of Jacobabad district of Sindh in the line of duty to rescue a hostage, the police officials confirmed on Wednesday.

Jacobabad Senior Superintendent of Police (SSP) Dr Sumair Noor Channa confirmed the incident and said the martyred police officials were from the Usta Muhammad police station in Balochistan’s Jaffarabad district.

SSP Channa said both the Balochistan and Sindh Police jointly challenged the dacoits and a gun battle took place in the limits of Jagir area in the remit of Moladad police. During the exchange of fire, six officials of Jaffarabad police, including an inspector were martyred and two others were injured by the firing of dacoits, he informed. SSP Channa said that the martyred officials included Usta Muhammad Police’s sub-inspector Tayyab Umrani and constables – Nisar Ahmed, Abdul Wahab Peechoha, Usman Hanbhi, Riaz Hussain and Khadim Hussain

After the incident, a heavy police contingent was dispatched to the scene in Jacobabad. A joint operation was being conducted along with Jaffarabad police to recover Furqan Soomro, son Aslam Soomro, a rice

mill owner in Usta Muhammad town who was kidnapped at gunpoint a day ago from Jaffarabad.

SSP Channa added that the dead bodies of martyrs were shifted to DHQ Hospital in Dera Allahyar.

Naseerabad division Deputy Inspector General (DIG) Munir Ahmed Sheikh said that the joint operation will continue till the hostage, Furqan Soomro, has been recovered.

The DIG informed that the operation had been expanded with the cooperation of Sindh police and more personnel were on stand-by if needed.

Balochistan Chief Minister Mir Abdul Quddus Bizenjo expressed his grief, saying that the “police inspector and five constables embraced martyrdom

while performing their duties”.

He commended the martyred for “facing the enemy with bravery”, and prayed for their families to have patience.

Bizenjo further said he hoped that the Sindh government would soon bring to justice those responsible for the incident.

Meanwhile, Balochistan Governor Malik Abdul Wali Khan Kakar expressed his sorrow over the martyrdom of police personnel during an operation in Jagir area of Jacobabad. “We were determined to establish lasting peace in the entire province and it was the responsibility of the government to protect the lives and property of the people”, he said. The Governor said that the blood of the police martyrs would never go in vain.

He directed for providing best medical treatment to the injured policemen.

Earlier this month, a station house officer was martyred while five others, including a deputy superintendent of police, were injured after dacoits attacked a large police contingent in Sindh’s Kandhkot district to free hostages.

The Sindh and Punjab police have launched a grand joint operation against gangs of dacoits entrenched in the riverine areas of upper Sindh and southern Punjab. The Pakistan Army, Rangers and other security personnel are also aiding the police forces.

With baggage in tow, Lootah finally reaches Summit Bank summit

g UAE INVESTOR WHO WAS NAMED IN FIA INVESTIGATION OF FAKE ACCOUNTS CASE INVOLVING ZARDARI ACQUIRES CONTROLLING STAKE IN THE BANK AFTER RS10 BILLION INJECTION

LAHORE ABDULLAH NIAZI

Things are moving fast at Summit Bank.

Only a few months ago the bank had first announced its intentions to convert itself into a full-fledged Islamic Bank and gain an Islamic Banking License from the State Bank of Pakistan (SBP).

Now, UAE based investor Abdullah Hussein Lootah has officially acquired a 51% controlling stake in Summit Bank. Lootah’s acquisition became possible after the bank’s board of directors issued 3.8 billion new shares which he then subscribed to injecting Rs 10 billion into Summit Bank.

“Prominent UAE national, investor, and a longstanding friend of Pakistan, H.E. Nasser Abdulla Hussain Lootah (the “In-

vestor“), has acquired a controlling stake in Summit Bank. The Investor’s vision for the Bank is to transform it into a full-fledged Islamic bank, providing exceptional services, innovative products, and a commitment to the principles of Islamic finance.”

But Lootah’s relationship with Summit Bank and indeed with Pakistan has not been without its challenges. In fact, he was directly named in an FIA investigation looking into money laundering and fake accounts that also involved former President Asif Ali Zardari and his sister Faryal Talpur.

Lootah’s baggage

Back in July 2018, the Federal Investigation Agency (FIA) asked the SBP details of Summit Bank’s equity and names of chief executive officers (CEOs) of the said beneficiary firms while investigating al-

leged money laundering cases worth Rs 35 billion against 13 firms. The allegations involved former President Asif Ali Zardar and his sister Faryal Talpur as well. Lootah was a key figure in this case. The FIA claimed that the money had been transferred directly into the accounts of Lootah, who was back then chairman of the Summit Bank’s board of directors.

The fake accounts case involves alleged money laundering worth billions of rupees through 32 bank accounts, which were opened in five banks. Of those accounts, 15 were opened in Summit Bank. “Lootah is considered to be a major beneficiary of these suspicious transactions, as Rs7 billion were transferred to his account,” reads the Dawn report on the subject from 2018. The bank’s troubles and move towards

Islamic banking

After the highly publicised FIA investigation that named Lootah as well, Summit as a bank buried its head in the sand. The bank failed to release its financials prompting raised eyebrows. In 2019, the bank once again failed to release its financials and as a result of this non-compliance shifted to the defaulters segment of the Pakistan Stock Exchange (PSX).

Following the demotion at the stock exchange, the bank made a feeble attempt to correct course by releasing their 2018 financials in 2020, but for a third consecutive year failed to call an Annual General Meeting (AGM).

And a full-blown money laundering investigation initiated by the FIA and NAB following a scandal involving political big-

wigs such as Asif Ali Zardari and his sister Faryal Talpur was not the extent of their troubles. The bank was also facing constantly rising pressure from the State Bank of Pakistan (SBP) over its inability to fulfil regulatory requirements due to a deteriorating financial condition. In response, it very much appeared that Summit Bank had wilfully buried their head in the sand and were trying to ride the tide of the scandal out. Then, at the end of 2021, the bank released three years worth of financial statements and the picture was not pretty. You see, Summit has never been a very profitable bank. In fact, it has posted a net profit after taxation only twice, in 2014 and 2015, in the past 10 years, that too a small one, Rs217 and Rs 230 million respectively.

JACOBABAD STAFF REPORT

NA SPEAKER BARS PTI MNAS FROM ATTENDING ASSEMBLY’S SESSION

NATIONAL Assembly Speaker Raja Pervaiz Ashraf has declared that members of the Pakistan Tehreek-e-Insaf (PTI), who have resigned, would not be allowed to participate in National Assembly proceedings, following consultation with constitutional experts.

The Election Commission’s notification regarding the resignations of PTI members has been suspended by the Sindh High Court, confirmed by the National Assembly spokesperson.

However, the spokesperson also clarified that the Sindh High Court had not yet made a decision regarding the Speaker’s ruling on the eligibility of the resigned PTI members to participate in National Assembly proceedings.

The NA spokesperson stated that, in accordance with the rules of the National Assembly, resigned members of the Pakistan Tehreek-e-Insaf (PTI) were now considered out of the National Assembly and were not allowed to enter the House. Similarly, the rules also prohibit the entry of strangers into the National Assembly.

A day earlier, PTI Karachi’s nine members of the National Assembly had decided to attend the NA session. Aftab Siddiqui, President PTI Karachi chapter, had wrote a letter addressed to Speaker, National Assembly Raja Pervaiz Ashraf, intimating him, that the nine PTI MNAs from Karachi will attend the lower house session scheduled on April 26 (tomorrow).

Sherpao demands judicial inquiry into Kabal police station’s blasts

PESHAWAR Staff RepoRt

Chairman, Qumi Watan Party, Aftab Ahmad Khan Sherpao here Wednesday demanded a judicial inquiry into the deadly explosions at the Counter Terrorism Department’s police station at Kabal in district Swat and compensation to heirs of the martyr’s policemen. In a statement here, Aftab Sherpao said that the killing of over a dozen of CTD policemen was a great tragedy and judiciary inquiry was required to identify the exact nature of the explosions. He said residents of Swat had rendered great sacrifices for the protection of the motherland and their sacrifices would not go to waste. Aftab Sherpao demanded compensation to the heirs of the martyrs and free treatment to all injured of the blasts. He also prayed to Allah Almighty to may rest the departed soul in eternal peace and grant courage to members of the dead victims to bear this irreparable loss with patience.

Kite string claims child’s life in Karachi

KARACHI

Staff RepoRt

A 10-year-old boy lost his life after a kite string cut his throat in the Bandhani Colony area of Liaquatabad situated in the provincial capital. According to the rescue authorities, the deceased victim has been identified as Shah Faiz. A relative of the deceased said Shah Faiz, along with his friends, was trying to get hold of a kite when a string cut his throat as he tried to avoid a car at Lyari Expressway. The victim succumbed to his injuries while being shifted to a nearby hospital for medical aid. Police said the body of Shah Faiz was shifted to the Abbassi Shaheed Hospital however, his family took away the body without legal formalities.

Court grants bail to Imran’s chief security officer

LAHORE

Staff RepoRt

A sessions court on Wednesday granted post-arrest bail to Iftikhar Rasool Ghumman, chief security officer of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, in a money-laundering case. The court also ordered the accused to furnish surety bonds of Rs 100,000 for availing the relief of bail. Additional District and Sessions Judge Ghulam Rasool heard the post-arrest bail petition of Iftikhar Rasool. The FIA had arrested the accused over violation of Foreign Exchange Regulations Act and a court had sent him to jail on judicial remand.

US Consulate Karachi for combating climate change

KARACHI

Staff RepoRt

“We have right to attend the assembly’s session, after suspension of the Speaker’s order,” the letter read. “The Speaker’s notification is not required after the Sindh High Court’s ruling,” according to the letter.

“We will protest and initiate legal proceedings, if prevented from attending the National Assembly session,” PTI sources have said.

Pakistan Tehreek-e-Insaf (PTI) succeeded in gaining temporary relief from the Sindh High Court (SHC) in March as the court suspended an ECP notification of accepting the resignations of nine MNAs of the party.

SHC Chief Justice Ahmed Ali Shaikh headed a twomember bench that heard the pleas of the PTI lawmakers against acceptance of their resignations.

Dar directs CDA to hold balloting of Nilore Heights-I project for expats before May 8

ISLAMABAD Staff RepoRt

Finance Minister Ishaq Dar on Wednesday directed the CDA authorities to hold balloting of Nilore Heights-I project, which is exclusively developed for Overseas Pakistanis, before 8th May, 2023 instead of 16th May, 2023.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired a meeting on CDA’s projects for overseas Pakistanis, at the Finance Division.

SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Secretary Finance, the CDA Chairman, Member (Planning & Design) CDA, and senior officers from Finance Division and CDA attended the meeting.

The meeting reviewed progress on the development projects carried out by CDA, especially for the overseas Pakistanis.

The meeting was apprised that CDA has initiated a number of short term and medium term housing projects for overseas Pakistanis. It was informed that one of these housing projects namely Nilore Heights-I is in completion phase and over 6000 applications have been received from 81 countries for 2000 flats.

Finance Minister Senator Mohammad Ishaq Dar emphasized the importance of overseas Pakistanis in the economic and financial development of the country, and

directed the CDA authorities to fast track the development projects for overseas Pakistanis. He further directed the CDA authorities to hold balloting of Nilore Heights-I project, which is exclusively developed for Overseas Pakistanis, before 8th May, 2023 instead of 16th May, 2023.

The meeting was briefed on the provision of commercial and residential plots for overseas Pakistanis on open auction basis. It was informed that in the next phase registration for plots in C-14 and C-16 sectors for overseas Pakistanis will commence and special facilitation desks have been established in CDA to facilitate the overseas Pakistanis.

The Finance Minister directed that for auction of commercial plots, incentives should be extended to those investors who pay the amount in US dollars so that foreign exchange reserves could be further bolstered.

The Finance Minister further directed the CDA authorities to maintain a public friendly and transparent system for investors during sale and purchase process by minimizing physical contact between CDA authorities and overseas investors by ensuring maximum interaction using the digital platform developed for this purpose. He further directed to expedite work on Kuri and Overseas Enclave projects and scheme for auction of plots in C-14 and C-16 sectors should be ready by mid of May, 2023 for overseas Pakistanis.

PML-Q distributes tickets among 50 candidates in Punjab

ISLAMABAD Staff RepoRt

Pakistan Muslim League Quaid-e-Azam (PML-Q) has fielded strong candidates in the upcoming election contests by distributing party tickets to more than 50 candidates in Punjab.

According to Pakistan Muslim League (Q), Chaudhry Sarwar and Chaudhry Shafay Hussain distributed tickets in a ceremony held in Lahore. However, the tickets of North Punjab were distributed by the party leaders including Mrs. Farrukh Khan, Mustafa Malik, Chaudhry Ansar Farooq and Rizwan Sadiq. The tickets have been issued to Hamad Abbasi from Murree,

Nargis Jabeen from Rawalpindi, and Chaudhry Babar Javed from Taxila.

Leader PML-Q Mrs. Farrukh Khan in a statement said that the tickets were given to more than five percent of women.

The party will play a key role in the upcoming elections, said PML-Q leader Mustafa Malik. He further said that he party has also supported candidates in more than a hundred constituencies.

Meanwhile, Chaudhry Ansar Farooq said that under the leadership of Chaudhry Shujaat Hussain and Chaudhry Sarwar, the Muslim League-Q is emerging as a major political party across the country.

Two TTP terrorists arrested

KARACHI Staff RepoRt

The Special Investigation Unit (SIU) of Crime Investigation Agency (CIA) Karachi Police on Wednesday arrested two alleged terrorists affiliated with proscribed Tehreek-e-Taliban Pakistan (TTP).

Arrested accused were involved in killings and extortion, according to spokesman for SIU.

They were identified as Muhammad Kamal Khan and Abdul Qadir. The accused have confessed their involvement in killings and extortion collection on the

orders of TTP leadership in Afghanistan.

The arrested accused demanded extortion for TTP from a trader in Saddar area, a case of which was registered at Preedy police station and under investigation at SIU. This year, the accused killed Qayyum Goshtwaley along with their other accomplices in Banaras for nonpayment of extortion. The case of incident was registered at Pirabad police station.

In 2022, the accused killed Saeed Ahmed, a citizen of Afghan origin, in Gulshan-e-Maymar area on the suspicion of spying TTP for a foreign agency.

US Consulate Karachi released on April 22nd the song and music video “Sound the Alarm” to focus on the need to combat climate change and to mark Earth Day, says a statement issued on Wednesday. The song “Sound the Alarm” is sponsored by the U.S. State Department and is a collaboration between U.S. singer Aaron English and Pakistani singer Ali Gul Pir. The song serves as a reminder that all people, organizations, and nations need to do their part to mitigate climate change and help avert natural disasters like the devastating floods that hit Pakistan in 2022. Tackling the climate crisis is a focal point of U.S. foreign policy and we work together with Pakistan to conserve and protect the earth. Let’s heed the important messages in this song: [Sound the Alarm – Earth Day anthem –YouTube] Climate change is not a problem that one country can solve alone but requires collective efforts from a strong coalition of partners. The United States and Pakistan have a long history of working together to advance economic growth and build a brighter future for Pakistan. The U.S.Pakistan “Green Alliance” framework works to advance cooperation in agriculture, clean energy, and water. The United States is committed to support Pakistan as it strengthens climate resilience, pursues energy transformation, and fosters inclusive economic growth.

Court extends interim bail of Buzdar

LAHORE Staff RepoRt

An accountability court in Lahore Wednesday extended the interim bail of former Punjab chief minister Usman Buzdar in the assets beyond means case till May 3 next. Usman Buzdar appeared before the court in person and had his attendance marked. During the hearing, Accountability Court Judge Sheikh Sajjad Ahmed made interesting remarks. “He (Buzdar) looks like a ‘sayen’, I mean a gentleman,” the judge remarked about Usman Buzdar at which the people in the courtroom burst into laughter.The lawyer for Usman Buzdar contended before the court that his client had not done anything illegal. “Usman Buzdar is also a lawyer,” he informed the court. “Has this bail administered in a ‘homeopathic’ way?” the accountability court judge questioned the lawyer for Usman Buzdar. “We have prepared an answer to the questionnaire today that will be submitted to the office of National Accountability Bureau (NAB),” Buzdar’s lawyer told the court. The judge asked Usman Buzdar to take the court seriously, adding he was very strict in that matter. “The decision will be on merit. If you are innocent, you will get justice. If you do not meet the merit, the bail will not be given,” the judge said. After appearing before the accountability court, the former chief minister talked to the media and said that he was Imran Khan’s soldier. “I am ready to perform any duty. Be it chief ministership or anything else. A review committee on the distribution of tickets in Punjab has been formed. The committee will examine the entire matter and the concerns of the candidates will be addressed,” he added.

Nawaz Sharif leaves for London; Maryam coming to Lahore

JEDDAH

Staff RepoRt

PML-Q Quaid Nawaz Sharif on Wednesday left Saudi Arabia for London while party’s Senior VicePresident Maryam Nawaz will leave Jeddah for Lahore later today. Members of the Sharif family had performed Umrah during their stay in Saudi Arabia whereas Nawaz Sharif and Maryam held a series of meetings with Saudi leaders and members of the PML-N Saudi Arabia chapter. Nawaz Sharif along with his sons left Jeddah for London at 9:30 am while Maryam Nawaz will board her plane for Lahore at 3:00 pm. Before his departure for London, Nawaz Sharif and Federal Planning Minister Ahsan Iqbal held a meeting with a delegation of PML-N Saudi Arabia chapter and business community.

The delegation consisted of PML-N

Coordinator Mirza Muhammad Altaf, Senior VicePresident Khalid Akram Rana, Central General Secretary Malik Manzoor Awan, Patrol Rana Muhammad Ashraf, Sardar Shoaib, Rana Khadim Hussain, Zahid Butt, Naeem Azam Mughal, Mehar Abdul Khaliq, Masood Ahmadpuri, Raja Kamal, Ch Waheed, Youth Wing President Hafiz

Amanullah Advocate, Mian Tariq Junaid, Rana

Tariq Mahmood, Sardar Shoaib, Saudi Arabia Youth Wing Chairman Raja Yaqoob, Social Media Head Saira Shamas and others.

HRCP report 2022 underscores systemic change to address various challenges facing Pakistan

ISLAMABAD Ghulam abbaS

The Human Rights Commission of Pakistan (HRCP) has released its annual report, State of Human Rights in 2022, which paints a bleak picture of the country’s political, economic, and social conditions.

The report was launched during a media briefing addressed by Chairperson of HRCP, Hina Jilani and others here at a local hotel on Wednesday.

The report highlights how the political and economic turmoil of the previous year has had a serious impact on the human rights situation in the country.

The report notes that both the current and previous governments have failed to

respect the supremacy of Parliament. Tussles among the legislature, executive, and judiciary have undermined institutional credibility, and political victimization has continued throughout the year. Colonial-era sedition laws have been weaponised to stifle dissent, and dozens of journalists and opposition politicians have been arrested, with ensuing claims of custodial torture. The right to freedom of assembly has been violated and abused, as law enforcement personnel clashed with protesters in various parts of the country.

The year has also seen an alarming resurgence in terror attacks, with 533 lives lost—the highest in five years. Despite citizens’ warnings that such developments were imminent, the state has continued to

fumble in addressing militancy. There has been an uptick in enforced disappearances, particularly in Balochistan, with 2,210 reported cases remaining unresolved.

The report also notes that climate change-induced floods ravaged much of the country, and relief and rehabilitation for over 33 million affected persons fell woefully short. This lackluster response has underscored the need for empowered, well-resourced local governments in every province and territory.

Escalating threats to freedom of religion or belief have remained a grave concern. The incidence of mob lynching appears to have risen, and the Ahmadiyya community has come under particular threat, with several places of worship and

over 90 graves desecrated. Violence against women has continued unabated, with at least 4,226 instances of rape and gang-rape compounded by an abysmally low conviction rate for perpetrators. The scale of violence and discrimination against trans persons has also been compounded by the conservative backlash against the hard-won Transgender Persons (Protection of Rights) Act 2018.

n a year that has seen the country’s economic situation unravel, the report notes that the rights of workers and peasants have been sorely neglected. Although the minimum wage has been increased, the state has yet to acknowledge that this falls below the threshold of a living wage. Additionally,

while around 1,200 bonded laborers were freed in Sindh, the district vigilance committees constituted in 2022 remained largely dysfunctional. The death toll in the country’s mines also remained very high, at 90 workers.

The HRCP demands immediate action by the state on these issues if it is to move towards a pro-people approach to politics, law, and governance. The report serves as a stark reminder of the urgent need for systemic change to address the various challenges facing Pakistan.

During the media briefing, the HRCP officials highlighted the human rights violations in the country with special focus on forced conversion, missing persons, violation against women and transgender etc.

ISLAMABAD Staff RepoRt

NO EVIDENCE OF LOCALIZED TRANSMISSION OF MPOX AS OF NOW: HEALTH DEPT

ISLAMABAD Staff RepoRt

MINISTRYof National Health Services and National Command and Operation Centre (NCOC) at the National Institute of Health (NIH) Pakistan are vigilantly monitoring the situation of Monkey pox both at the national and global levels while keeping all the relevant stakeholders on board for ensuring preparedness, timely response and containment of the disease’ cases in Pakistan.

According to a statement issued here on Wednesday, Monkey pox has been declared as Public Health Emergency of International concern in July 22 by WHO and reportable to WHO under IHR 2005.

Monkey pox (Mpox) is a viral zoonotic disease caused by a pox virus (MPXV) and is a contagious disease. It can be transmitted

from infected animals to humans or from infected humans to others humans via close contacts and droplets.

As of now a total of around 87,000 laboratory confirmed cases and 119 deaths have been reported from 111 countries globally. The number of cases reported weekly at the global level peaked in August 2022, and since then, the cases have been steadily declining. In Pakistan, since May 2022, a total of 22 samples from suspected cases were referred form different parts of the country and PCR test were carried out at NIH for Monkey pox virus. First (01) case have been confirmed by NIH from travelers who arrived recently in Pakistan and has been isolated at PIMS hospital along with others who are being investigated. As there is no evidence of localized transmission of Mpox as of now in Pakistan, the risk of international spread of disease from Pakistan remains low. The WHO does not recommend any restrictions on trade on

the current available information regarding Mpox outbreaks.

Mpox advisory to the health authorities and guidelines by Border Health Services based on the recent case detection have been issued to enhance screening of inbound passengers all international airports.

The NIH, Provincial Health Departments and Border Health Services at all Airports, District Health authorities at Islamabad and provinces have been advised to ensure surveillance through Laboratory diagnostics, contact tracing, rapid identification of suspected cases and clusters of infections as well as the source of infection in order to: provide optimal clinical care; isolate cases to prevent further transmission; identify, manage and followup contacts to recognize early signs of infection; identify risk groups for infection and for severe disease; protect frontline health workers; and tailor effective control and prevention measures.

Projects of KP Science & Technology Dept faces delay due to funds paucity

The Khyber Pakhtunkhwa (KP) government has spent only Rs249 million out of Rs1.5bn allocated for various projects of Science and Technology Department in the annual development program for the current financial year. The provincial government has spent some funds on eight development projects of the Department of Science and Technology,

while other projects have not been provided any funds because of shortage.

The department has spent Rs124.3mn on the Haripur Digital City project, Rs2.2 million the KP Digital Governance Initiatives project, Rs8.9mn on the Pilot Citizen Facilitation Center project in Peshawar, Rs90.888mn in skills Center Mardan, Rs3.44 million on improvement and maintenance of S&T department, 15.2 million rupees for construction of provincial science and Technology system, Rs4.467mn on capacity building

of the department in latest technologies. According to sources, most of the projects have not received any funding from the Finance Department. Similarly, funds were also withdrawn from some projects and were diverted to districts of the PTI leaders. According to sources of finance department, 90% of KP budget depends on funds received from the federal government.

The provincial government has formally communicated the financial issues of the province and delay in

Electricity prices may increase as CPPA submits request to NEPRA

ISLAMABAD Staff RepoRt

completion of annual development projects, but the government has not yet received any satisfactory response from the central government. The caretaker KP government has also demanded the federal finance minister to release the province’s share of over Rs200bn. According to sources, due to financial difficulties of the province, not only the development projects were delayed, but also salaries of the government employees are not being paid on time.

With baggage in tow, Lootah finally reaches Summit Bank summit

CONTINUED FROM PAGE 01

In the 2019 results that were released in October 2021, the bank recorded its greatest loss yet, at Rs9.4 billion. But it wasn’t that far off from the preceding year’s loss of Rs8.7 billion.

After three years in the wilderness, it seemed Summit Bank was trying to edge its way back into the mainstream and make something of itself. While the financial statements were late, following all of these mandatory disclosures, the PSX has also moved them up from the defaulters segment to its “normal counter” – meaning the bank’s stocks are up for trading once again.

However, in May 2022, Profit’s then editor and senior journalist Khurram Husain reported in an exclusive scoop that the government has committed to the IMF that Summit Bank and another bank would be sent into “resolution” by May 2023 if they don’t complete the first stage of their recapitalization plan by March of the same year. If this happens, these banks could be the next to be forcibly restructured or even sold off altogether like KASB Bank was in 2015.

The Islamic banking angle and Lootah’s acquisition

The decision to convert comes in the wake of a recent trend of growing Islamic Banking in Pakistan.

On April 28, the Shariat Court announced a verdict in a long-pending, declaring the prevailing interestbased banking system as against the Shariah and directed the government to facilitate all loans under an interest-free system. The court had instructed the government to make laws within five years with regard to the implementation of Islamic banking

Five robbers killed in Ghotki’s alleged shootout

GHOTKI/HYDERABAD ppi

within the country.

For Summit it became clear that going the Islamic Banking route was its only path to redemption — both perhaps to shed its former reputation and to fit in better with the demand for financial services in the country. On the 2nd of January, the bank announced its intentions.

On the 18th of January. Shareholders of Summit Bank Ltd passed a special resolution in an extraordinary general meeting back in January to authorise the equity injection of Rs10 billion from Lootah. He even went ahead and placed the promised equity with the bank as advance against the proposed issuance of shares. “Going forward, the investor intends to convert the bank to a full-fledged Islamic bank,” read the bank spokesperson’s statement. Will it work?

Summit Bank currently has 195 branches, out of which 50 are already part of their Islamic Banking window. Its assets and deposits stood at Rs. 23 billion and Rs. 20 billion, respectively. The bank is not opening new branches of its conventional bank but converting its established branches into Islamic banking branches. The Islamic banking division of the bank made a profit of Rs. 551 million by the end of September 2022 — an impressive feat considering the bank’s otherwise dismal financial results. And the move is a smart one in any case. Even before the Shariat Court verdict, a sizable shift had been observed towards Islamic Banking in Pakistan.

Data from the SBP and Profit’s analysis of the financial statements of every single bank in the country shows that it accounts for about 20% of net new deposits between 2002 and 2019. Crucially for the industry, net new Islamic banking deposits hit

approximately 30-35% of total industry net new deposits.

And the rise has only grown since then. Islamic banking assets reached around 19.5% of total assets as of end June 2022, while share of deposits reached 20.5%. On a year on year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by end June, 2022. The country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah compliant banking services. IBIs include 5 full-fledged Islamic banking and 17 Islamic banking windows of conventional banks. The country currently has 22 Islamic Banking Institutions (IBIs) with a branch network of 4,086 branches, including 1,463 windows spread across 129 districts that provide Shariah compliant banking services. IBIs include 6 full-fledged Islamic banking and 16 Islamic banking windows of conventional banks. Islamic banking assets reached around 19.5% of total assets as of end June 2022, while share of deposits reached 20.5%. On a year on year basis, assets and deposits of Islamic Banking institutions were up by 41.4% and 27.0%, respectively by end June, 2022.

“With the Investor’s acquisition and renewed focus on Islamic finance principles, Summit Bank is well-positioned to become a market leader in the banking industry. The Bank’s leadership and staff are enthusiastic about the future of the Bank and committed to providing ethical and transparent financial services to its clients,” Summit Bank said in its official press release.

FTO directs FBR to examine ST chargeability on Computerized Arms Licenses

ISLAMABAD Shahzad paRacha

Five robbers were killed during an alleged encounter here in Ghotki while three accused were held in injured condition after separate encounters in Hyderabad, police said Wednesday. According to Ghotki Police, five robbers were killed during a shootout with police in the wee hours of Wednesday. The police informed the suspects were waiting with intentions to rob someone and opened fire when they spotted police coming towards them. The police retaliated and a shootout took place. As a result of exchange of fire, all five suspects were killed, the police said. The police said the bodies of all suspects have been shifted to the hospital. However, none of the suspects could be identified yet and further investigation has been initiated. In Hyderabad, three accused were held in injured condition in three separate encounters with police on Wednesday. According to the police, the first encounter took place in the limits of City police station, the second Phalili police station and the third Fort police station. The accused held in injured condition were shifted to Civil Hospital. They were identified as Sarwar Oudh, Ajmal Rafiq and Younis Rajput. The police recovered pistols and a stolen motorcycle from them. “The accused had opened fire on the police, and they were injured in retaliatory firing,” the police spokesperson said.

While disposing of a complaint, the Tax Ombudsman has directed FBR to examine chargeability or otherwise of sales tax (ST) under the Sales Tax Act, 1990 on Computerized Arms Licenses.

The complaint was filed under Section 10(1) of the Federal Tax Ombudsman Ordinance, 2000 (FTC Ordinance) against inaction on the part of FBR to take cognizance of the fact that NADRA, Islamabad was/is not charging sales tax on the supply of goods in the form of i) Computerized Arms Licenses Cards. During hearing held on 10.02.2023, Shehzad Akhtar while representing NADRA stated that they are providing Services’ to Ministry of Interior for printing and supplying Cards/ The Complainant reacted that the supply of cards is in fact “supply of goods as ‘card’ falls within the definition of “goods” under the Sales Tax Laws.

After elaborate discussion during the course of hearing the Hon’ble FTO make findings to revenue division to examine chargeability or

otherwise of sales tax under the Sales Tax Act, 1990 on Computerized Arms Licenses in the form of cards, being supplied by NADRA, Islamabad to the Federal Government, and Provincial Governments on the analogy of Chipbased Vehicle Registration Cards ,the LTO, Islamabad has stated that “Under section 3 (2B) of the Islamabad Capital Territory (Tax on Services) Ordinance, 2001, the tax levied under sub-section(l) is not applicable to regulatory and licensing services rendered or provided by an organization established under a Federal Statute.

NADRA has been established under National Database and Registration Ordinance, 2000 which is a Federal Statute. Therefore, sales tax on arm licensing services of NADRA is not applicable”.

The legal position is that clause (b) of subsection (2) section 9 of the FTO Ordinance, 2001 bars jurisdiction of the FTO, inter alia, in matter of ‘determination of liability of tax on duty. FBR vide letter dated 10.04.2023 has determined that computerized licences in the form of cards being supplied by NADRA ,Islamabad to the Federal Government ,and Provincial Governments attract charge of sales tax at standard rate.

The Central Power Purchasing Agency (CPPA) has submitted a request to the National Electric Power Regulatory Authority (Nepra) to increase the price of electricity by Rs1.17 paise for DISCOs consumers under the monthly fuel price adjustment for March 2023.As per details, NEPRA is set to hear the request on May 3. This comes as K-Electric has already submitted a similar request for fuel price adjustment. If approved, the increase in electricity prices could affect consumers across the country. According to NEPRA, an increase of Rs 1.1738 kilowat hour (kWh) over the reference fuel charges i-e Rs 8.7122/kWh has been requested by the CPPA. During March, total 8,741.32 Giga Watt Hour (GWh) while net delivered to power distribution companies (DISCOs) were 8,459.24 GWh during the said month of March 2023.

Parliament, not SC’s ‘arbitration’ to decide about elections: PM Shehbaz

CONTINUED FROM PAGE 01

“And not just that, but our foreign interests were destroyed,” he continued. PM Shehbaz maintained that the “seeds of bitter divisions were sown in all domains of life in Pakistan” by Imran’s politics, as he regretted the rhetoric against the armed forces in particular. “I have no qualms in admitting that the PTI’s agents, who are the enemies of the country, played such a role against the military that even an enemy could not live up to that,” he added.In spite of his disagreements, the premier stressed that “all matters are to be settled by the parliament and nobody else”, adding that there was “an overwhelming opinion that the doors for dialogue should be left open” to which he was willing to comply. However, he continued that the quetion about the format of the dialogue wold remain open for discussion. The premier suggested that one possible route could be that the National Assembly speaker and the parliamentary committee could take up the responsibility to help find a resolution to political differences. The participants also condemned the audio leaks wherein the mother-inlaw of the incumbent CJP, former top judge Saqib Nisar, PTI legal adviser Khawaja Tariq Rahim and his wife could allegedly be heard conspiring against the current government. They noted that audio recordings purportedly reflected an undemocratic mindset. During the meeting, there was also a discussion on removing the MQM-P’s reservations over the census. The government’s legal team also briefed the participants on the case related to the SC’s deadline for election funds. The participants decided to resist strongly and it was determined that parliament was supreme. All the ruling coalition parties pledged to stand with parliament. Talking to the media after the meeting, Fazl said that the decision to negotiate with the opposition PTI and its chief Imran Khan would be made by the JUI-F’s Central Executive Council. He added that negotiations, if they were held, would take place only in parliament. During the PML-N parliamentary party’s meeting chaired by PM Shehbaz, it was decided that negotiations with the opposition would only be held at the level of parliament. The parliamentary leaders vowed not to accept the mediation of any institution for these talks.

According to sources, the prime minister directed the party’s parliamentarians to stay in the federal capital for a few days. During the cabinet meeting, the premier reiterated the remarks he had made during the huddle with the allied parties. The cabinet gave the nod to refer the finance ministry’s summary for the release of Rs21 billion to the Election Commission of Pakistan (ECP) for holding elections in Punjab and Khyber-Pakhtunkhwa to parliament for a second time.

PESHAWAR aziz buneRi

Keeping Parliament supreme

WHilE the government and opposition have obeyed the supreme court in holding talks on a single date for elections to the national and all four provincial assemblies, it seems that there is no consensus developing. As matters stand, the supreme court has set May 14 as the date of elections to the Punjab Assembly, while the KP Assembly, dissolved around the same time, has not got a date for elections earlier than the october 8 date agreed by the Governor after the EcP postponed the original polls set by the President. However, at the moment, it cannot be said that the parties are close to an agreement, leaving the possibility of the governing coalition refusing to a date, leaving the order of the supreme court holding the field, but with slim chances of being obeyed, which would merely revert to the confrontation between the supreme court and Parliament. Perhaps the only positive takeaway was that the two institutions had not taken any fresh step against the other. However, an important principle is at stake. that elections have to be held in 90 days is evident, as is the possibility, under Article 224, of going beyond that limit. However, who decides on such a postponement? the Election commission of Pakistan thought it could, but the supreme court has said that it cannot, and that only the court can. oneway of mediating between these two constitutional bodies would be for Parliament to have the final decision, through a constitutional amendment. With the Pti having made its members resign, the National Assembly is incomplete, and while it can pass ordinary legislation, and even the Budget, it cannot pass a constitutional amendment. Perhaps one way out would be to let the Pti MNAs, who had resigned, return to the House. the alternative would be to let the supreme court issue an order, as it seems only too willing to do. only a constitutional amendment would suffice to cover the present situation, and reconcile the dissolution of more than one provincial assembly with the idea of sameday elections for all assemblies. At the moment, the situation is that the talks are taking place because the supreme court has knocked heads together, and is playing the role of an arbitrator, which it is not supposed to do. it should be made clear by legislate action that any deviations from constitutionally set timetables can only be carried out by Parliament, and that too by amending the constitution.

to the legacy of late

Hameed Nizami

Arif Nizami (Late)

Founding Editor

Yousaf Nizami Editor

M. A. Niazi Joint Editor Umar Aziz Executive Editor

Fear of the establishment

Elections must be held, but without establishment manipulation

levers of power, including the armed forces.

Gen Jehangir Karamat was sent into forced retirement. As he was at the fag end of his term he decided to go home quietly and gracefully, He was replaced by General Pervez Musharraf who was expected to behave. When differences started to emerge, Ns tried to remove his handpicked coAs, but this time the reaction was serious. He was removed and captured. Abba Ji managed to reach an agreement of self exile with the general and the family agreed to live in Jeddah for a period of 10 years.

Dr FArID A MALIk

EvERY country has an establishment that ensures continuity of the state apparatus while the political players come and go. Parameters are defined by the constitutional framework.

At the time of Partition, Pakistan inherited a colonial state under the Government of india Act 1935 which was passed by the British Parliament. the constituent assembly elected in 1945 was tasked with framing the constitution of the new republic that emerged on 14 August 1947.

trouble started when Babu Ghulam Muhammad first managed to become Governor General, who subsequently dissolved the legislature. Finally in 1956 a document was passed by the assembly. iskander Mirza, another bureaucrat, took the oath of office as the first President of the republic. in 1958, instead of holding elections under the new constitutional framework, he decided to abrogate the constitution; the main reason behind the move was the fear of defeat. After the first Martial law in october 1958 when the Khakis moved out of the barracks they were stricken by fear. the same fear continues till today. After deposing the elected government of Zulfikar Ali Bhutto the establishment of its time decided to launch Nawaz sharif of Gawalmandi lahore as its new political face to counter the threat posed by the popularity of ZAB and his party, which was led by his daughter after his judicial murder.

in the 1988 electoral contest, despite electoral manipulation Benazir Bhutto managed to emerge as the single largest party in the National Assembly. out of fear her wings were clipped by the establishment. the important portfolios of Foreign Affairs, Finance, Defense were kept out of her domain together with the chief Ministership of Punjab which was handed over to Nawaz. As their own embryo Nawaz was later launched as Prime Minister after the dismissal of the BB government by the President under Article 58(2b). Nawaz now ruled over his home province and the federation.

With his total grip on power Nawaz decided to be his own man. Fearing his control, the establishment decided to strike back. in 1993 his government was sent packing. BB was eased into power.When she was pushed out Nawaz managed to come into power the second time around with a two-thirds majority. this time he decided to take total control of the

After the lawyers’ movement in 2007, Nawaz managed another grand comeback. in the elections that followed in 2008 he took control of his home province and in 2013 he was back in power at the centre also. He continued on his dream for total control. Mission was a coAs as compliant as an iGP, who could be removed at will. the methodology was changed this time around instead of direct confrontation, videos were prepared by a Media cell operating within the PM House. the famous Dawn leaks spilled the beans, there was a strong reaction from the men in uniform. then came the Panama Papers which exposed the corruption of the mighty and the powerful.

In a democratic dispensation

support of the establishment is no longer possible. this gang of status quo politicians have been grouped together under the banner of the Pakistan Democratic Movement (PDM). the religious right has always been in the establishment camp. Despite being an embryo of the establishment, the PMl(N) desires an upper hand which has been a serious bone of contention between the two. Asif Zardari has played his cards well. Under him Bhutto’s party is no longer a threat to the status-quo forces. His approach of live and let live has been welcomed by the establishment. currently his party has emerged as a jewel in the crown of PDM. As leader of the vast majority iK seeks a more lasting solution to the tinkering of the establishment. He seeks enforcement of the constitutional boundaries under which the Khakis have to return to the barracks where they rightfully belong. A subservient and compliant coAs like an iGP is not his desire. His mission is the enforcement of rule of law. For its security the republic needs a strong defence force which should keep out of politics. the status-quo is no longer an option, and change is inevitable. the total-control mantra of Nawaz will weaken the institution which is undesirable. A negotiated and planned return to the barracks remains the best possible approach for the men in uniform. in a democratic dispensation the rule of the majority is an essential requirement.

this time he was disqualified for life by the supreme court which was headed at that time by one of the former legal advisers of the sharif Group who knew the inside workings of the business empire created by Abba Ji. currently the disqualified, cornered and angry individual is planning to regain power for the fourth time to complete his mission of total control. Now that most civilian institutions have been made non-functional the challenge is of a subservient coAs. NAWAZ is prepared to go to any extent for the fulfillment of his dream.

currently the establishment is fearful of the popularity of imran Khan). He clearly leads the pack with a two-thirds majority. the rule of the one third with the

Has cynicism replaced hope?

ing the decisions against them. And then it is portrayed that the decisions are politically motivated and biassed.

inflation has broken all previous records. the life of the common man has become worse. Pakistan is yet to reach an agreement with the iMF. Foreign loans and aid are the way forward and look like the last choice. the political leaders look more comfortable in accepting the loan and thanking the donor countries, instead of making Pakistan independent.

the youth is taking the shortest route to tackle the economic and political instability in the country. the youth is preferring to move abroad instead of finding peace in the country. the desire in youth to travel abroad is unreal.

Politics has been reduced to the battle of the egos in recent times. the desire to achieve personal goals has intensified to a level where the difference between right and wrong has vanished.

What has been politics up to now? Politicians are involved in abuses, acquisitions, and maligning campaigns against each other and state institutions. Politically motivated steps are taken to cater to personal interests and get rid of opposing voices. in short, politics has been reduced to proving each other corrupt and unfaithful to the country.

some politicians and political parties have made state institutions biased and compromised by their actions. the state institutions have lost respect in the eyes of the public. some politicians have stooped so low that one finds it inappropriate to listen to them with family.

the top leadership of every political party is busy justifying the right or wrong actions of party heads. in doing so, they cross all limits while proving their loyalty to the party heads. on the contrary, the unpopular voices within the parties are never listened to nor given weightage. the head of every party is a revolutionary in his circle. He is prisoned in a cage of illusion that shows him to be a saviour, the ultimate solution to all the problems, and all others as corrupt and misfits 5n the system. Meanwhile the circle of closed ones makes him feel that way and he never sees beyond that circle.

since the success of the vote of no-confidence against the PM a year ago, two countering narratives have led the political parties. one is of the Pti and the other of the PDM and its allies. Unfortunately, neither of the narratives have been proven correct nor have been fulfilled. instead, the last year has seen undemocratic and unconstitutional acts and practices. the opposition, which was supposed to sit on opposition benches, is out of the assembly and in the streets. the statutes passed by the ruling coalition are authoritarian and biassed because there has been no debate and no opposition to these pieces of legislation.

the judiciary has been attacked ferociously. the political parties and leaders only accept decisions that favour them, while reject-

Amid the division in the judiciary and the use of state institutions against the public, people have lost faith in the system. the future looks gloomy as the fight for supremacy has intensified.

the only solution to this problem is dialogue.

the political leaders will have to sit together. they will have to leave their egos behind and talk to each other. instead of inviting undemocratic forces, the political leaders will have to accept each other as a reality and come out of the illusion which does not let them see other political parties and leaders.

the problem with the three mainstream parties’ approach is that they have never accepted each other’s existence. they have tried to eliminate the others. However, in reality, they cannot eliminate each other’s existence. instead of proving each other corrupt they should be debating on matters of public importance.

form of the government to the autonomy of the provinces, different questions engaged the minds of the constitution makers.

Pakistan got a delayed constitution and it did not last long either. it took Pakistan 26 years to finally get a constitution.

A comprehensive constitution settles the power debate between the different institutions and compels the institutions to work within their constitutional limits.

But, by the time Pakistan got its final constitution, the debate was settled. the hope of a newly democratic state that would write its destiny was disappearing. the power structure that developed in the initial 26 years saw the mockery of the constitution in the coming years.

The stakeholders have not learned the lesson from history. How long it will take to settle the debate is still a mystery. It must not take another 25-26 years to find the solution as Pakistan cannot further remain in chaos. It should be kept in mind that this time there is no external enemy that can be blamed for any mishap, the rift is within and all are responsible and accountable

the NAB reforms, electoral reforms, and Judicial reforms are the need of the hour. But, the way the PDM government dealt with them without any debate and opposition, will have no long-term benefit. the new government might pass new legislation and the ambiguity will develop further. it would benefit none. the only solution is the realization that the political parties will have to listen to each other and the public to legislate on matters of great importance and work with each other to take the country forward.

After independence, the confusion regarding the constitution took centre stage. From the

As the democratic transitions of governments started to take place in Pakistan lately, the constitution started to hold the status of the most important document in the country. But the events that took place in the last year have made the constitution a piece of paper that can be interpreted to benefit those in need. After 75 years, we have not learned anything. initially, there was confusion regarding the making of the constitution and now the confusion is regarding the interpretation of that constitution. there is uncertainty regarding the role of every institution. Government, opposition, and other institutions, all are claiming to be the sole protectors and interpreters of the constitution, and all others as violators of the constitution. But in reality, the constitution has defined the role of every institution and its limits. the stakeholders have not learned the lesson from history. How long it will take to settle the debate is still a mystery. it must not take another 25-26 years to find the solution as Pakistan cannot further remain in chaos. it should be kept in mind that this time there is no external enemy that can be blamed for any mishap, the rift is within and all are responsible and accountable. Hope is very important for a nation. it gives a nation strength to deal with problems. Amid the constitutional and political crisis, it is cynicism that has replaced hope. And, to move forward, Pakistan needs an answer to these questions quickly.

Establishment-manipulated ballots have weakened democracy. Free and fair elections followed by the retreat to the barracks by the Khakis is the most viable option. Fear leads to contempt which is not in the nation’s interest. Pakistan was envisioned as a constitutional democracy. Now after half a century of cheating it is time to respect and follow the agreement between the rulers and the ruled called. the constitution of the islamic Republic Pakistan’ unanimously passed by a genuinely elected legislature.

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

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Send your letters to: Letters to Editor, Pakistan today, 4-Shaarey Fatima Jinnah, Lahore, Pakistan. E-mail: letters@pakistantoday.com.pk

Letters should be addressed to Pakistan today exclusively

There is hope even in desperate times

i moved back from the United states after working there for 20 years, knowing that my contribution to society in Pakistan would have an impact on children’s healthcare much more than in the Us. i did prove myself right despite facing many hurdles. i contributed to academic medicine, and was also able to contribute to the wellbeing of Pakistani children.

My colleagues in the Us were surprised at my decision and kept asking me why i was leaving the Us where, like most senior Pakistani doctors, i was earning rather well. Every time someone asked me the question, i would tell them that Pakistan is a liveable place in spite of many problems, including non-implementation of laws. it is not a banana republic where there are no laws. there are laws, and a strong civil society has been trying to ensure that the laws are implemented. However, during the recent economic and political turmoil in the country, i was rethinking whether my decision to return to Pakistan was right, and how i would face my colleagues who had always told me that i would regret the decision someday. Not that i really regret my decision, but, yes, i had my moments of reflection.

Reading the article ‘Reflections around a Resolution’ (March 23) strengthened my belief that all is not lost, and that there is hope despite the tough times Pakistan is going through. i recently visited lahore and was amazed to see the crowd enjoying all the entertainment around Minar-iPakistan. i even took a wonderfully enjoybale ride in a very primitive boat in a lake. the people were happy as if they just did not care about the political chaos, and who was saying what about whom. there were no supporters of this political party or that; they were just people going about their lives, and they were doing so with corn, popcorn and ice cream. that being so, my advice to anyone feeling low about Pakistan is to always read books and articles penned by those who are optimistic about the country and its future. it will help you keep your hope alive that despite all the unbearable turmoil, the country will survive, and survive gracefully. it is up to us, especially the civil and military bureaucrats as well as the judges and the politicians, to stand up and be counted in these testing times.

DR MUMTAZ LAKHANI KARACHI

Distorting history

tHis is with reference to the letters ‘A case of biasness’ (March 24) and “is there a conspiracy afoot against the ‘right hand’ man of Jinnah?” (April 9). i fully agree with the contents of the said pieces of correspondence. there, indeed, seems to be a certain lobby that is biased against the first prime minister of the country, Nawabzada liaquat Ali Khan, although he was among the few who sacrifised both life and property for the sake of Pakistan without lodging any claims with the evacuee property trust. in fact, a retired bureaucrat-turned-analyst was also observed indulging in character assassination and attacking the personality of the first prime minister in one of his interviews on a private television channel, which went viral on social media. As regards sir syed Ahmad Khan, his self-explanatory views about the natives of the subcontinent have been in the public eye for long. He visited England and on oct 15, 1869, he wrote from london: “Without flattering the English, i can truly say that the natives of india, high and low, merchants and petty shopkeepers, educated and illiterate, when contrasted with the English in education, manners and uprightness, are as like them as a dirty animal is to an able and handsome man. Do you look upon an animal as a thing to be honoured? Do you think it necessary to treat an animal courteously, or the reverse? You do not. “We have no right to courteous treatment. the English have reason for believing us in india to be imbecile brutes.” (the History and culture of the indian People, vol 10, 307-8pp). MUHAMMAD

The only way of settling the election controversy lies in Parliament amending the Constitution

the rule of the majority is an essential requirement.

Establishment-manipulated ballots have weakened democracy.

Dedicated

Why the youth are voting with their feet

Pakistan’s struggle with religious extremism

An evaluation of the national action plan and the way forward

REliGioUs extremism is a problem that Pakistan has been battling for several decades now. the rise of extremist groups, fueled by a mix of political, social, and economic factors, has had a profound impact on the country’s society and politics. these extremist ideologies are often characterised by a narrow and intolerant interpretation of islam, which seeks to impose its views on others through violent means. the rise of religious extremism in Pakistan has led to a range of negative consequences, including sectarian violence, terrorist attacks, and the persecution of religious minorities. the activities of these groups have led to a wave of intolerance and violence that has threatened to tear apart the social fabric of the country. this article will explore the rise of religious extremism in Pakistan, evaluate the National Action Plan, its shortcomings, and the need for a new framework to combat extremism, as well as the societal consequences of extremist activities.

in the early years of Pakistan, religious extremism was not a major issue. the country was governed by a secular government, and there were no major islamist political parties. in the 1950s and 1960s, the Pakistani state began to use religion as a tool to legitimise its rule. this led to the gradual islamisation of the state as religious parties gained political influence.

However, in the 1970s, the country’s political landscape began to shift towards islamism. the 1977 military coup, led by Gen Zia-ul-Haq, marked a turning point in Pakistan’s history. Zia’s regime promoted an islamist agenda, introducing sharia law and supporting islamist groups. these groups espoused a radical form of islam, which rejected modernity and Western values. the 1980s saw a major escalation in the activities of extremist groups in Pakistan, as the country became a frontline state in the cold War. the 1990s saw a period of relative stability in Pakistan, as the military took control of the government and cracked down on extremist groups.

However, the events of 9/11 changed the equation once again. Pakistan became a key ally of the UsA in the “War on terror,” and the government of Gen Pervez

Musharraf began to crack down on extremist groups once again. However, these efforts were half-hearted, and the extremist groups were never completely dismantled. today, Pakistan is still struggling with the problem of religious extremism. the activities of extremist groups have led to a wave of violence and intolerance that has had a profound impact on the country’s society and politics. the taliban, who were thought to have been defeated in 2001, are once again on the rise, and has taken control of several areas in the tribal regions of Pakistan. to counter the rise of religious extremism, the Pakistani government has taken a number of steps, including the preparation of a National Action Plan to counter terrorism, and the creation of a counter-terrorism force. the National Action Plan (NAP) of Pakistan is an extensive strategy that was launched in 2014 to counter terrorism and extremism in the country.the NAP calls for the regulation of religious seminaries to ensure that they do not promote extremist ideologies. this includes registering and monitoring seminaries, and promoting a curriculum that emphasises tolerance and respect for diversity. the NAP calls for a complete crackdown on extremist groups including the freezing of their assets, the arrest of their members, and the disruption of all their activities. it also calls for the strengthening of law enforcement agencies to ensure that they have the resources and training needed to combat terrorism and extremism, which includes improving intelligence gathering, and providing better equipment and training to law enforcement personnel. However, these efforts have been hampered by a lack of political will and a fear of reprisals from extremist groups.

one of the main reasons for the failure of the NAP was the lack of political will to implement it fully. the plan was launched with much fanfare but the political leadership failed to follow through on its commitments. it involved multiple stakeholders, including law enforce-

The marriage of the media and the security state

americaN Spectator DAVID CATron

It is now all too obvious that the corporate media colluded with corrupt elements of the security state to alter the outcomes of two presidential elections. their first foray into election interference failed because, in 2016, they underestimated the power of social media and allowed Donald trump to speak directly to the voters. they fixed that problem in 2020 by convincing Facebook and twitter to censor legitimate news stories while disseminating disinformation. And it is no coincidence that former obama and current Biden administration officials were involved in both interference schemes. one such official, former acting ciA Director Michael Morell, testified before congress last week that he facilitated the cover-up of the Hunter Biden laptop scandal at the request of then-Biden campaign advisor Antony Blinken. Morell coordinated the fraudulent open letter in which he and 50 other national security “experts” claimed that the entirely accurate story published by the New York Post before the 2020 election had “all the classic earmarks of a Russian disinformation operation.” Morell also contributed to the 2016 Russia collusion hoax by writing in a New York times op-ed that Donald trump was pro-Putin: Mr. Putin is a great leader, Mr. trump says, ignoring that he has killed and jailed journalists and political opponents, has invaded two of his neighbors and is driving his economy to ruin. Mr. trump has also taken policy positions consistent with Russian, not American, interests — endorsing Russian espionage against the United states, supporting Russia’s annexation of crimea and giving a green light to a possible Russian invasion of the Baltic states. this was all nonsense, but Morell seems to be a man of imperfect honesty when he can lend a hand to a Democratic presidential candidate. indeed, he admitted during his testimony that he concocted the open letter “to help then-vice President Biden in the debate and to assist him in winning the election.” Biden did use the spurious statement during a subsequent debate to “prove” that trump’s assertions about Hunter Biden’s influence peddling were nothing but “garbage.”

Meanwhile the corporate media uncritically parroted the disinformation canard, and the social media platforms censored the New York Post story.

All of this is of a piece with the refusal of the corporate media to cover the twitter Files, a dereliction of duty that will accelerate the security state’s assault on free speech. their silence on the weaponization of the FBi, ciA, and iRs stands in stark contrast to the irresponsibility with which they covered the Russia collusion hoax. From the moment BuzzFeed published the infamous steele dossier, knowing full well that it was a work of fiction, it tainted every subsequent “news” story written about the trump administration. Yet the former editor of BuzzFeed, Ben smith, writes in the Atlantic that he would do it again: if i

had to do it again, i would publish the dossier — we couldn’t suppress it, not once cNN had discussed it and its implications on air. But i would hold more tightly to the document, so that no one could read it without reading what we knew about it — that we weren’t sure it was true, and in fact we had noticed errors in it. Releasing a document that could be shared without context — and this is as true of the Wikileaks material as it is of the dossier — created partisan symbols, not crowdsourced analysis. Now BuzzFeed is, for all intents and purposes, dead. But this offers no more comfort than the news that a mass shooter committed suicide after killing a dozen people in a shopping mall. the damage is done. it not only smeared a President-elect without regard to the damage that would do to him or the country, it probably accelerated the public’s already waning trust in the news media. And what lesson did Ben smith learn from all of this? He lost confidence that “people could be trusted with a complex, contradictory set of information, and that journalists should simply print what they had and revel, guilt-free, in the traffic.”

this is, of course, the tale corporate media editors now tell themselves when they bury stories about Biden family corruption or the federal government’s stealth collusion with social media platforms to censor disfavored publications, journalists and scientists. You, as a mere reader, can no longer be trusted to figure out what’s going on when an iRs agent makes a house call on veteran journalist Matt taibbi the very day he is scheduled to testify before congress about the weaponization of large and powerful federal agencies.

Now a sitting member of congress has threatened him with prosecution. As taibbi writes at substack: i learned yesterday virgin islands Delegate and Ranking Member of the House subcommittee on the Weaponization of Government stacey Plaskett is threatening me with prison, over her own error. Just after i ran a piece called “the Press is Now Also the Police” about the New York times and Washington Post boasting of roles in delivering a leak suspect to the FBi, MsNBc’s new attack-caster, Mehdi Hasan, got his wish, inspiring first Alexandria ocasio-cortez and then Plaskett to trumpet his incredibly vicious and mistaken claim that i lied to congress.

the reference to MsNBc host Mehdi Hasan involves his claim that a typo in a tweet (taibbi inadvertently added an A to the acronym cis and subsequently fixed it) amounts to perjury. this is absurd, but Plaskett cited Hasan in her intimidation letter. Plaskett has used her position on the subcommittee to attack the credibility of any witness in any way possible. During taibbi’s testimony she referred to him as a “so-called journalist.” Her bizarre threat is not likely to provide much solace to anyone worried about increasingly overt attempts by the Biden administration to censor Americans for voicing inconvenient truths.

Nor will talking heads like Mehdi Hasan, who sell their souls to hide the collusion between the corporate media and government censorship, escape the consequences of their perfidy. in the end, this is what quislings like Hasan never realize until it’s too late. the disinformation “experts” who signed Michael Morell’s open letter will drop them into the censorship Quisinart as soon as it suits their purposes. Every “journalist” who thinks he can avoid being chopped up and served to an authoritarian regime as hors d’oeuvres is delusional. President Biden and his handlers enjoy whetting their appetites on useful idiots.

David Catron is a recovering health care consultant and frequent contributor to The American Spectator. You can follow him on Twitter at @Catronicus.

ment agencies, intelligence agencies, and provincial governments. However, there was a lack of coordination and cooperation among these stakeholders, which undermined the effectiveness of the plan. the weak judicial system in Pakistan was another significant obstacle in the implementation of the NAP. the lack of capacity and resources in the judiciary meant that cases against terrorists and extremists were not dealt with efficiently, leading to delays and acquittals.the lack of public support for the NAP was another significant factor in its failure. it was viewed with scepticism by many Pakistanis, who saw it as a tool to suppress political dissent rather than a genuine effort to counter extremism. the NAP required significant resources to be implemented effectively, including financial, human, and technological resources. However, the government failed to allocate sufficient resources to the plan, which hindered its effectiveness. the NAP also did not adequately address the socio-economic and political factors that contribute to extremism, such as poverty, inequality, and sectarianism. As a result, the underlying drivers of extremism remained unaddressed and extremist groups were able to continue to recruit and radicalise vulnerable populations. the NAP faced opposition from some political parties, civil society organisations, and human rights groups, which criticised some of the measures introduced under the plan, such as the establishment of military courts, as being unconstitutional and a threat to civil liberties and the creation of the National counter-terrorism Authority (NActA) ultimately failed to achieve its objectives. the failure of the NAP to counter extremism and terrorism in Pakistan highlights the need for a new framework. Pakistan needs a new framework to counter extremism and terrorism that takes into account the lessons learned from the failure of the NAP. the new framework should be based on an extensive approach which must be backed by strong political will at the highest levels of government. the political leadership must be committed to implementing the framework and

providing the necessary resources and support.

it should include a comprehensive counter extremism strategy that includes measures to prevent extremism, counter extremist narratives, and promote tolerance. there must be better coordination and cooperation among all stakeholders involved in the fight against extremism and terrorism including law enforcement agencies, intelligence agencies, and provincial governments. sufficient resources must be allocated to the new framework, including financial, human, and technological resources.

countering extremism in Pakistan at every level demands a multi-dimensional approach that addresses the root causes of extremism and includes measures to prevent radicalisation and promote pluralism. Education is a key factor in countering extremism at every level. the government and civil society organisations should focus on providing quality education that promotes critical thinking, tolerance, and respect for diversity. Education should also focus on providing skills and opportunities for economic empowerment, which can help prevent vulnerable populations from falling prey to extremist groups.

Education can help to foster positive values which are essential for building a peaceful and just society. By promoting positive values, education can help to counter the negative influence of extremist ideologies and promote a culture of peace and tolerance. Education can help to raise awareness about the dangers of religious extremism and the importance of countering it. By educating individuals about the risks and consequences of extremism, education can help to build public support for efforts to combat extremism and promote peace.

Pakistan’s history is agitated with religious extremism that has deeply affected its society and political landscape. Pakistan is a diverse nation with a rich cultural heritage, and the promotion of extremist ideologies runs counter to the values of tolerance and inclusivity that are essential for building a strong and cohesive society.

By promoting interfaith harmony, and investing in education and economic opportunities, Pakistan can create a more tolerant and inclusive society. By working together, the government, civil society, and the public can help to build a more peaceful and prosperous nation where all citizens can thrive. With a renewed focus on combating extremism, Pakistan can overcome the challenges of the past and build a brighter future for all its people.

The writer is a freelance columnist

The revolution will not be

New StateSmaN

AAron BenAnAV

Not so long ago we were worried less about chatbots and more so about robots. in 2013 the oxford researchers carl Benedikt Frey and Michael osborne released a paper claiming that 47 per cent of jobs would disappear to automation within one to two decades. the piece triggered a deluge of hype about automation. Journalists scoured the economy, looking for examples of disappearing jobs. We heard stories of robots revolutionising package delivery, burger flipping, strawberry picking, t-shirt production and even journalism itself. the vast majority of the firms making these claims failed within months.

ten years on we have seen little of the automation Frey and osborne feared. instead of mass unemployment, we have tight labour markets. our economies continue to experience slow rates of productivity growth, which is the major cause of what economists call secular stagnation. Will chatGPt succeed where the previous wave of robot-based automation failed? Researchers from openAi, its creator, recently published a working paper claiming that chatGPt is about to automate away vast numbers of jobs. the publication coincided with the release of openAi’s GPt-4.

once again, there are reasons to doubt the hype. the paper proclaiming a new age of chatGPt-inspired automation relies on the same faulty prediction techniques that Frey and osborne used. Researchers asked human experts (as well as chatGPt itself) to evaluate tasks in terms of their susceptibility to automation. the researchers then used o-NEt, an online database of job requirements, to predict which jobs were likely to be automated.

Among the jobs most likely to be done by large language models, according to the openAi researchers? central bank monetary authorities and clergymen – two jobs that definitely require a human touch – as well as scientists, engineers and sociologists.

A similar methodology led Frey and osborne’s 2013 study to wildly overestimate susceptibility to automation. their technique, which they adapted from efforts to predict the likelihood that jobs will be offshored – that is, taken over by other human beings, working overseas for lower wages – has never successfully been applied to digital technologies.

in part, that is because computer experts turn out to be bad at predicting computers’ capacities for autonomous operation. At the same time, the range of tasks involved in most jobs turns out to vary far more than oNEt suggests. Jobs such as school teacher or lathe operator look different across workplaces in the United states, and vary even more so across Germany, india and china. legal frameworks, collective bargaining agreements, wage-levels, comparative advantages and business strategies all shape how jobs evolve, in terms of technologies used and tasks required.

volkswagen spent the 2010s investing in robots to improve productivity on car assembly lines. By contrast, toyota, the most efficient car company in the world, removed robots from assembly lines over the same period, to improve the responsiveness of its factories to changes in sales trends.

Researchers at the oEcD reran Frey and osborne’s numbers in 2016 based on a more realistic account of the variety of forms that jobs take and found that less than 10 per cent of jobs in the Us were likely to be automated, and even that figure has so far turned out to be an overestimate. the same is probably true of the figures cited by the openAi researchers’ working paper. they claim that, with complementary technologies, large language models threaten 49 per cent of jobs. We can expect to see that figure fall to 10 per cent of jobs or less with further research. that rate of technical change is well within what a healthy economy can handle, which is not to say that our economy is healthy. For reference, something like 60 per cent of the job categories people worked in in the late 2010s had not yet been invented in 1940. still, even if the vast majority of jobs are unlikely to disappear, and if many new jobs are likely to be created, the nature of work will change due to the implementation of technologies like chatGPt. We need to shift our thinking about how that change occurs. over the course of the 20th century, few jobs were fully automated out of existence. Gone are the lift operators, film projectionists and travel agents of yesteryear, but it is difficult to cite more examples. Most jobs did not disappear with technological progress. instead, their content changed. longshoremen used to load cargo by hand; now they operate cranes.

As technologies diverge across countries, so too do job requirements. the same job on a film production crew might require different competencies in Hollywood than in Bollywood or Nollywood. Workers in sweden report higher degrees of autonomy in deciding how they carry out their jobs than workers in the Us or UK. that jobs change in different ways, across countries, suggests that there is nothing inevitable in this process. Without holding back technologies, we can dig out new channels for them to flow into, as a way to ensure that new technologies improve rather than harm society.

How might jobs change with the adoption of chatGPt and related applications? Even veritable revolutions, like those inaugurated by the advent of the steam engine in the 19th century and the internet in the 20th, unfolded gradually. so do not believe every company press release proclaiming a revolutionary advance. Do not rely on over-exuberant self-reported tests. Wait for actual, onthe-ground results.

chatGPt will probably have its greatest impact on computer programming, technical writing and legal writing, fields which have seen woefully low rates of productivity growth. No one knows whether, on balance, software such as copilot, which assists developers with writing code, will end up increasing or decreasing the demand for their services. Falling programming costs may unleash pent-up demand for programmers’ services.

the problem with using large language models like chatGPt across the wider economy is their tendency to “hallucinate”. When they do not know the answer to a question, they lie. As the Ai expert Gary Marcus has explained, these hallucinations are not a minor bug. they are a fundamental limit of the technology, which will persist no matter how large chatGPt’s training data gets.

What the chatbots might eventually enable is a personal digital assistant much more capable than Apple’s siri. A digital companion that could read emails, schedule meetings, draft communications, explain things we don’t understand, and provide helpful reminders would make a big difference in people’s lives.

such tools would help to solve a problem that the internet and other digital technologies have themselves created: we are inundated with information. the advent of social media and smartphone notifications have made daily distractions much worse, and have probably had major, negative effects on our productivity, as well as our mental health.

only time will tell whether chatGPt will finally solve the problem of information overload – or will make it worse, by increasing the speed with which information and disinformation proliferate. in either case, the future of these technologies should not be left to silicon valley to divine.

By promoting interfaith harmony, and investing in education and economic opportunities, Pakistan can create a more tolerant and inclusive society.

Robots never took your job, and neither will chatbots

brought to you by ChatGPT

A consummation devoutly to be feared

EU UNVEILS REFORMS FOR CHEAPER DRUGS AND TO AVOID SHORTAGES

BRUSSELS

Agencies

T

“Over the last decade, reports of medicines shortages, including of antibiotics, have skyrocketed to the tens of thousands,” EU health commissioner Stella Kyriakides told a news conference presenting the recommendations. The biggest reform of its kind in two decades was in part informed by Brussels’ concerted action during the Covid pandemic that underscored the benefits of

less-burdensome procedures, greater transparency and joint measures.

HEEU on Wednesday unveiled a long-awaited proposed reform of legislation governing pharmaceutical drugs to make them cheaper, prevent shortages and boost new antibiotic production.Kyriakides said that, under the proposal, “companies will have to notify potential shortages earlier and have shortage prevention plans for their medicines”.

By the end of this year, Brussels plans to draw up a list of critical medicines that will need to be stocked up by manufacturers.

The pharmaceutical industry intensively lobbied ahead of the presentation of the proposals, which had been pushed back several times. A leak in February of a draft version of them sparked criticism from companies worried that the exclusive period they had over selling new drugs could be shortened from 10 years to eight.

The European Federation of Pharmaceu-

UK blocks Microsoft’s $69-bn Activision takeover

LONDON

Agencies

Britain on Wednesday blocked Microsoft’s $69-billion takeover of US video game giant Activision Blizzard, arguing it would harm competition in cloud gaming and leaving the blockbuster deal in peril. The UK’s Competition and Markets Authority prevented the deal “over concerns… (it) would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come”, the CMA said in a final decision on its long-running probe. Microsoft replied it would appeal the verdict over its vast takeover, which has yet to win regulatory approvals in Europe or the United States. The Xbox-owner launched in 2022 its bid to create the world’s third biggest gaming company by revenue with the takeover of Activision, owner of hit games “Candy Crush” and “Call Of Duty”, triggering antitrust concerns worldwide. The CMA added Wednesday that Microsoft’s proposed remedies over cloud gaming contained “significant shortcomings” and would require further regulatory oversight instead of allowing the market to decide. “Preventing the merger would effectively allow market forces to continue to operate and shape the development of cloud gaming without this regulatory intervention,” it added in the statement.

Powerful Iranian cleric killed in bank attack

TEHRAN Agencies

FA powerful Iranian cleric, a member of the Assembly of Experts that selects the country’s supreme leader, has been killed in an armed attack, officials said Wednesday. “Ayatollah Abbas Ali Soleimani was killed this morning in an armed attack… the assailant was also arrested and is now being investigated,” IRNA news agency reported, citing the political and security official for the northern Mazandaran province where the attack happened. The attack took place in a bank in the city of Babolsar, the official said. “The motive of the assailant is not yet clear and will be announced after it is clarified,” the official added. The governor of Mazandaran province Mahmoud Hosseinipour said the attacker was a local security personnel of the bank. “So far, our information and documents indicate that this was not a security or terrorist act,” Hosseinipour told state television. Soleimani, 75, was previously the representative of the country’s Supreme Leader Ayatollah Ali Khamenei. He had also been the imam who led the weekly Friday prayers in the cities of Kashan, in central Isfahan province, and Zahedan in the southeastern province of Sistan-Baluchistan. Under the constitution, the 88-strong Assembly of Experts is mandated with supervising, dismissing and electing the Supreme Leader. The all-powerful deliberative body is now headed by ultra-conservatives 96-year-old cleric Ahmad Jannati.

tical Industries and Associations warned against steps that could constrain innovation.

While the European Commission aims to bring down the cost of medicines, notably by having more generic drugs on the market, it doesn’t have the power to set prices in the European Union. That is the prerogative of national governments who negotiate with pharmaceutical groups.

DRUG VOUCHER PROPOSAL: Commission vice president Margaritis Schinas said that, currently, the bigger EU member states had the clout to get certain drugs faster than smaller ones.

“We want our citizens all over the European Union to have the same level of access to drugs,” he said. He also said the EU carried out “the biggest ever vaccination pro-

WASHINGTON

Agencies

President Joe Biden greeted his South Korean counterpart Yoon Suk Yeol for a state visit Wednesday at which they will announce a beefed-up US nuclear shield for Washington’s vital ally in the face of an aggressive North Korea.

A military honor guard and hundreds of guests massed outside the White House where Yoon and his wife, Kim Keon Hee, arrived for a day of pomp and ceremony — and far-reaching geostrategic discussions.

Standing alongside Yoon, Biden lauded what he called the “unbreakable bond” of the countries’ “iron-clad alliance,” forged in the Korean War seven decades ago.

Today, the allies are economic powerhouses and partners in keeping a “free and open” Asia-Pacific region, Biden said, adding: “Ours is a future filled with unimaginable opportunities.”

Yoon and Biden will meet together

gramme in the history of mankind” to combat Covid, which showed the benefit of Brussels having more say over broad health issues in the 27-nation bloc.

However, a senior commission official admitted that the proposals would not by themselves entirely address the problem of drug shortages, which result from multiple factors, including that essential ingredients are sourced from China and India.

A parallel policy push by Brussels to secure its own raw materials and to bring in more industrial production to Europe is meant to tackle that last issue.

ANTIBIOTIC RESISTANCE: Another key challenge is increasing microbial resistance to existing antibiotics, which each year leads to 35,000 deaths in the EU.

in the Oval Office and hold a joint press conference before ending the day with a lavish state dinner in the ceremonial East Room.

Ahead of Yoon’s arrival, senior US officials told reporters that the two leaders would announce measures to reinforce deterrence against North Korea, including the first deployment of a US nuclear missile submarine to the country in decades.

What will be known as the Washington Declaration will also create a USSouth Korean consultative group, giving Seoul more information and input on nuclear policy — although Washington will retain sole command of its weapons, officials said.

The arrangement — responding to ever-growing tension over communist North Korea’s missile tests and nuclear arsenal — echoes moves last seen when Washington oversaw the defense of Europe against the Soviet Union. “The United States has not taken these steps, really, since the height of

the Cold War with our very closest handful of allies in Europe. And we are seeking to ensure that by undertaking these new procedures, these new steps, that our commitment to extended deterrence is unquestionable,” a senior official said.

The officials, speaking on condition of anonymity, stressed that there are no plans to station US nuclear weapons in South Korea — a difference from the Cold War, when US strategic weapons were deployed to Europe.

In addition, Seoul will reiterate its pledge in the declaration not to seek its own nuclear arsenal.

SUBMARINE, AIRCRAFT CARRI-

ERS: “We’ll announce that we intend to take steps to make our deterrence more visible through the regular deployment of strategic assets, including a US nuclear ballistic submarine visit to South Korea, which has not happened since the early 1980s,” an official said.

In addition to submarines, there will be a “regular cadence” of other major

Pakistan U19 Cricket squad departs for Bangladesh

KARACHI

stAff RepoRt

Saad Baig-led Pakistan U19 departed for Bangladesh in the wee hours of Wednesday to feature in a series consisting of a one-off four-dayer, five 50-over matches and a solitary T20. The series will be played from 30 April to 17 May in Chattogram and Rajshahi.

Karachi-born Saad Baig, also led Pakistan U19 against Bangladesh U19 last year when Bangladesh visited Pakistan for one four-day match, three one-dayers and two T20s in November in Multan.

The squad includes 17 players and three reserve players. Six players apart from the captain Saad and vice-captain Ali Asfand had featured in the previous series against Bangladesh U19. These include Arafat Minhas, Mohammad Ibtisam, Mohammad Ismail, Mohammad Tayyab Arif, Shahzaib Khan and Wahaj Riaz.

Head Coach Sabih Azhar said: “We have prepared well for this tour, and our boys are eager to showcase their talent on the field. We have been working on strengths and weaknesses of the players, and we are confident that the players will put up a good fight against the Bangladesh team at their own backyard.”

Captain Saad Baig also shared his thoughts ahead of te tour and said, “We are all very excited to represent ourcountry. We have been training hard and are ready to take on the challenge. As a team, we are focused on playing our best cricket and competing well in every match. We have set ourselves some goals for the series, and are determined to achieve them.”

Pakistan U19: Saad Baig (captain) (Karachi), Ali Asfand (vice-captain) (Faisalabad), Ahmed Hussain (Peshawar), Aimal Khan (Peshawar), Amir Hussain (Rawalpindi), Arafat Minhas (Multan), Azan Awais (Sialkot), Hamza Nawaz (Lahore), Mohammad Ibti-

touR schedule

30 ApRil- 3 MAy – fouR-dAy MAtch; ZAcs, chAttogRAM;

6 MAy 1st 50-oveR MAtch; ZAcs, chAttogRAM;

8 MAy2nd 50-oveR MAtch; ZAcs, chAttogRAM; 11 MAy

3Rd 50-oveR MAtch; sKs, RAjshAhi; 13 MAy

4th 50-oveR MAtch; sKs, RAjshAhi; 15 MAy

5th 50-oveR MAtch; sKs, RAjshAhi;

sam (Sargodha), Mohammad Ismail (Sahiwal), Mohammad Tahir (Fata), Mohammad Tayyab Arif (Sialkot), Obaid Shahid (Lahore), Sajjad Ali (Lahore), Shahzaib Khan (Mansehra), Shamyl Hussain (Islamabad) and Wahaj Riaz (Karachi). Abidullah (Islamabad), Ikramullah Tareen (Quetta) and Muhammad Zulkifal (Charsadda) (all reserves)

Player Support Personnel – Tauseef Ahmed (manager), Sabih Azhar (coach), Umar Rashid (assistant coach), Hafiz Naeem Ul Rasool (physiotherapist), Yasir Malik (trainer) and Shan Ullah (team analyst)

Pakistan launches World Cup preparations with first ODI against NZ today

Player of the Series award.

Because antibiotics are meant to be taken in moderate, defined doses they are less lucrative to pharmaceutical companies than blockbuster drugs.

To address that problem, the commission is looking at introducing transferable vouchers that would allow a company coming up with a new, effective antibiotic to apply a lengthened period of exclusivity to another, more profitable drug, or to sell that right to another company. Around half the EU member states, including France, Belgium and the Netherlands, are wary of that idea though, worried it would weigh on national health systems. The European Consumer Organisation has also come out against that proposal.

“But so far, no one has proposed a better system,” said one EU lawmaker, Peter Liese, also a medical doctor considered close to the pharmaceutical industry position.

He said that virtually no new antibiotic had been produced in 20 years. On this issue and others the commission is proposing, “innovation-friendly regulation is indispensable,” he said. The commission also wants a leaner approval process to get new drugs to market faster, as happened with Covid vaccines.

platforms, “including bombers or aircraft carriers,” the official said, emphasizing however that there will be “no basing of those assets and certainly not nuclear weapons.”

Yoon is only the second foreign leader invited for a state visit by Biden and he and his wife were greeted with full military honors at the White House.

On Tuesday, Yoon and Biden visited the Korean War Memorial, which features life-sized steel statues of US soldiers marching during the 1950-53 war against the communist north.

Yoon also laid a wreath at the Tomb of the Unknown Soldier in Arlington National Cemetery and joined US Vice President Kamala Harris for a tour of a NASA facility near Washington. Yoon will address a joint session of Congress on Thursday and have lunch with Harris and Secretary of State Antony Blinken. On Friday, he will visit MIT and Harvard University in Boston, before returning home on Saturday.

President Xi speaks with Ukrainian President on Phone

BEIJING Agencies

President Xi Jinping on Wednesday spoke with Ukrainian President Volodymyr Zelenskyy on the phone at the invitation of the latter. The two sides exchanged views on China-Ukraine relations and the Ukraine crisis. President Xi noted that ChinaUkraine relations, after 31 years of development, have reached a level of strategic partnership, boosting development and revitalization of the two countries. Xi commended President Zelenskyy for stating, on multiple occasions, the importance he attaches to developing the bilateral relationship and advancing cooperation with China, and thanked the Ukrainian side for its strong assistance to the evacuation of Chinese nationals last year. Mutual respect for sovereignty and territorial integrity is the political foundation of China-Ukraine relations. The two sides need to look to the future, view and handle the bilateral relations from a long-term perspective, carry forward the tradition of mutual respect and sincerity, and take the China-Ukraine strategic partnership forward. China’s readiness to develop relations with Ukraine is consistent and clear-cut. No matter how the international situation evolves, China will work with Ukraine to advance mutually beneficial cooperation. President Xi pointed out that the Ukraine crisis is evolving in complex ways with major impacts on the international landscape. On the Ukraine crisis, China always stands on the side of peace. Its core stance is to facilitate talks for peace. He noted his proposals of four points about what must be done, four things the international community must do together and three observations. On this basis, China released its Position on the Political Settlement of the Ukraine Crisis. China did not create the Ukraine crisis, nor is it a party to the crisis. As a permanent member of the UN Security Council and a responsible major country, China would not sit idly by, nor would it add oil to the fire, still less exploit the situation for self gains. Everything China does is above board. Dialogue and negotiation are the only viable way forward. There is no winner in nuclear wars.

PID (I) 6478/22

RAWALPINDI stAff RepoRt

Pakistan’s preparations for the ICC Men’s Cricket World Cup 2023 will begin on Thursday when they will take on New Zealand in the first of the five One-Day Internationals. The series will commence at the iconic Pindi Cricket Stadium, Rawalpindi, which will also host the second ODI on Saturday before the two teams will fly south for the remaining three matches in Karachi.

The two sides will enter the series after an exciting five-match T20 International series that ended in a 2-2 draw on Monday. That well-fought series promises equally competitive and exciting five matches for which both sides have added a player each. Pakistan has added wicketkeeper-batter Mohammad Haris and New Zealand has included Mark Chapman, whose extraordinary batting efforts in the T20Is earned him

In addition to this series and in the lead-up to the World Cup, which will be held in October/November, Pakistan is also scheduled to play three ODIs against Afghanistan in August and September’s ACC Men’s Asia Cup. As such, this series comes with the vital opportunity to gather the momentum.

Both Pakistan and New Zealand have qualified directly for the ICC Men’s Cricket World Cup 2023 after finishing in the top eight of the 13-team ICC Men’s Cricket World Cup Super League. New Zealand topped the Super League with 16 wins in 24 matches, while Pakistan finished fifth with 13 wins in 21 matches. Pakistan’s series against Afghanistan was mutually postponed after both sides were assured of places in the event proper.

Pakistan’s record since the start of last year has also been a remarkable one. They enjoy a win-loss ratio of 3, which is the best for any side.

CORPORATE CORNER UAE investor acquires majority shareholding, control of Summit Bank

KARACHI: Prominent UAE national, investor and a longstanding friend of Pakistan, H.E. Nasser Abdulla Hussain Lootah, has acquired a controlling stake in Summit Bank, a move that was recently approved by the State Bank of Pakistan, Securities and Exchange Commission of Pakistan, and Competition Commission of Pakistan. The Investor's vision for the Bank is to transform it into a full-fledged Islamic bank, providing exceptional services, innovative products, and a commitment to the principles of Islamic finance. To demonstrate his unwavering commitment to the Bank's success and positive vision for Pakistan despite the current economic situation, the Investor subscribed to 3.98 billion new shares of the Bank at PKR 2.51 per share, giving him a majority equity stake. In this regard PKR 10 billion has already been injected into the Bank in January 2023 through an advance payment for the proposed share issuance. PR

IESCO operations circles

In-charge holds e-court today

ISLAMABAD: To provide suitable and proper forum to valuable IESCO Customers regarding redrassal of their electricity issues, online E-Court are being held in IESCO region regularly and same are creating friendly relationship among IESCO and Customers. By following same practice facebook E-Court will held on 27th April, 2023 (Thursday) From 09:30 AM to 11:30 AM in all 06 Operational Circles of IESCO. Operational Circles Incharge will attend customers complaints through facebook live and telephone calls. Islamabad Circle customers can participates in facebook live EKachary by using face book ID SE IESCO Islamabad E-Kachery Phone No. 051-9260194, For Rawalpindi City Circle, SE IESCO Rawalpindi-City E-Kachery Phone No. 051-9292675, For Rawalpindi Cantt Circle, SE IESCO Rawalpindi-Cantt E-Kachery Phone No. 051-9293048, For Attock Circle, SE IESCO Attock EKachery Phone No. 051-4950343, For Chakwal Circle, SE IESCO Chakwal E-Kachery Phone No. 0543668500, For Jhelum Circle. PR

Philip Morris announces financial results for Q1-2023

KARACHI: Philip Morris (Pakistan) Limited announced its financial results for the quarter ended March 31, 2023. During the quarter, the Company reported a Total Net Turnover of PKR 5,822 million reflecting an increase of 8.9% vs. the same period last year (SPLY) driven by tobacco exports of PKR 2,365 million, (US$ 9.7 million), reflecting an increase of more than 100% due to delay in exports from last quarter of 2022. While the Company's domestic Net Turnover of PKR 3,456 million reflects a significant decrease of 23.1% vs. SPLY driven by the massive decline in volumes by 44% vs. Q1’22 due to an excise hike in Feb’23. PR

CDA to build Sports Enclave in Shah Allah Ditta: Mengal

ISLAMABAD: Chairman Capital Development Authority (CDA) Capt (r) Noorul Amin Mengal on Wednesday visited Shah Allah Ditta, Margalla Avenue, Sector C-13, C-14, C-15 and C-16. Member Estate, Member Environment, Member Engineering, Member Planning and other senior officers of the authority accompanied the Chairman during his visit.

On this occasion, the CDA chairman issued instructions to construct Sports Enclave in Shah Allah Ditta. He further said that sports enclave will serve as multipurpose sports center where facilities including volleyball, rock climbing, zip line, cricket etc will be provided. PR

IMC reports yet another decline in profit for Q3-2023

KARACHI: Indus Motor Company Limited (IMC) announced its financial results for the third quarter ended March 31, 2023, that witnessed a drop in profit after tax by 61.8% to Rs. 5.84 billion, as against Rs.15.29 billion in the previous year. The decline in net profit was mainly due to lower Completely Knocked Down (CKD) and Completely Built Units (CBU) sales volume, and an increase in input costs mainly on account of severe PKR devaluation against USD and the rising costs of production. The net operational loss was off-set mainly by higher other income owing to higher interest rates. During the nine-month period, net sales turnover decreased by 33.6% to Rs. 135.03 billion, as compared to Rs.203.41 billion for the same period last year. The Company’s overall market share for the nine months stood at 23%.

The combined sales of CKD and CBU vehicles decreased by 55% to 26,055 units. PR

NOT-BY- PROFIT

Rising Tech-enabled millionaiRes could Reshape pakisTan's poliTical landscape

EXPERTS SAY WEALTH IS BEING GENERATED FROM SOME OF THE POOREST PARTS OF THE COUNTRY

ISLAMABAD NEWS DESK

WRITINGfor The Express Tribune, author Usman Hanif explains that in Pakistan, technology is playing an increasingly crucial role in bridging the gap and empowering young individuals from poor pockets of society to create better livelihoods for themselves.

Innovative solutions are providing these youths with tools and skills to overcome challenges and build a brighter future.

The country is witnessing a surge in new millionaires, thanks to advances in technology. People from all walks of life are becoming millionaires in Pakistan, not because of, but in spite of, its lack of technological advancement.

One of the most important factors contributing to this trend is the growing number of Pakistanis who are engaged in tech-related activities.

E-commerce is seen as a great equalizer, enabling anyone with inter-

net access and determination to become an online entrepreneur. According to Daraz Pakistan's Managing Director, Ehsan Saya, "You do not need substantial capital to sell online. You need access to the internet, a phone or computer, and lots of grit, integrity, drive, and hustle. Online jobs and businesses have emerged as a viable alternative for individuals during these challenging times."

Pakistan has a large pool of young, educated, and tech-savvy individuals who are now utilizing their skills and expertise to work remotely as freelancers or run their own online businesses. This allows them the freedom to earn a livelihood from the comfort of their homes, within schedules that suit their lifestyles. Currently, approximately 100,000 sellers are registered on the platform from all over Pakistan. In the last three years, the average income of sellers has increased by 70%. This can be attributed to several factors, including increasing penetration of smartphones and the internet.

The rise of tech-enabled millionaires, emerging from the impoverished sections of society, has the potential to reshape the country's political landscape as well. Once they are freed from the burden of basic needs such as putting food on the table, their participation in politics could bring about positive change, liberating the country from the grip of a small elite class.

Recognizing the potential of Pakistan's young population, Daraz University was launched in 2018 to provide entrepreneurial education across the country, regardless of location. The virtual university offers courses that educate sellers about every step of setting up their businesses. Every month, approximately 5,000 sellers are educated.

However, access to technology and the internet also remains limited in many parts of Pakistan, particularly in rural areas. Additionally, many individuals lack the skills and education to take advantage of such opportunities. To address these challenges, it is important for government and private

organizations to work together to invest, expand access to technology, and provide training to individuals who want to take advantage of these opportunities.

Noman Ahmed, the CEO of Si Global, cautions that technology is not a panacea. While it can help with things like communication and transportation, there are glitches, breakdowns, and periods of time when people just can't afford to keep up with the latest and greatest gadgets. Despite these challenges, the potential of technology to create economic growth and lift individuals out of poverty is enormous. With more and more people lifting themselves into the ranks of the middle class, Pakistan is sure to see an uptick in economic growth. By investing in technology and providing education and training to individuals, Pakistan can harness the power of technology to create a brighter future for its citizens.

To read the full article visit www.tribune.com.pk

Sherry Rehman calls for vigilance as Pakistan braces for heavy rainfall

ISLAMABAD STAFF REPORT

Federal Minister for Climate Change Senator Sherry Rehman has advised the provinces on Wednesday to take necessary precautions and remain vigilant as Pakistan Meteorological Department (PMD) has issued a weather advisory predicting heavy rainfall from April 26th to May 7th.

The minister urged all the provinces to take necessary precautions to ensure public safety during the forecast period of heavy rainfall. This includes cleaning storm drains, ensuring electricity pole stability and maintaining road access in the event of local flooding, she added. She emphasized for taking extra precautions in the areas where reconstruction work is going on as a result of damages caused by the 2022 floods.

The minister feared that the country may fall into

PPL funds ‘Center of Excellence’ at UET Lahore

LAHORE: Pakistan Petroleum Limited (PPL) has funded the establishment of ‘Center of Excellence for Research, Development & Training (CERDT)’ at University of Engineering and Technology (UET), Lahore. UET, Lahore, is one of the prestigious engineering universities in the country and was established in 1921. It has played a leading role in education, research and training of professionals over the years. PR

Karandaaz partners with foodpanda to increase digital payments

KARACHI: Karandaaz Pakistan and foodpanda Pakistan recently signed an agreement which aimed to increase financial inclusion in the country by facilitating the onboarding of customers, who are habitual users of the Cash on Delivery (COD) option while ordering through the foodpanda app, to digital payment options like mobile wallets, RAAST ID and debit or credit cards. The Covid-19 pandemic sped up the move towards digitalisation, and countries with better digital payment systems did better during the crisis than those that were slower to adopt digital technologies. During and post lockdown, online platforms, like foodpanda, experienced a hike in demand as they were able to provide day to day necessities to consumers and digital. PR

China-made Chery accelerates green travel in Pakistan

BEIJING STAFF REPORT

As Chery continues to amplify its presence in Pakistan, apart from providing new generation automotive products and technologies to Pakistani customers, Chery is also striving to play an active role in protecting the environment and building a greener Pakistan,” said Song Huaifu, deputy country director of Chery Automobile in Pakistan.

During Chery’s 2023 Global Dealer Theme Conference, dealers around the world tested and drove core Chery models. The two plug-in

hybrid products of the TIGGO family, the TIGGO 8 PRO e+ and the TIGGO 7 PRO e+, fully demonstrate Chery's leading technical strength in the field of hybrid power with their all-round performance of lower energy consumption and stronger power. According to a Gwadar Pro' report, Chery's 1.5T hybrid engine, equipped with the TIGGO 8 PRO e+, can accelerate to a top speed of 7.5 seconds per 100 km, directly eliciting screams from on-site test-drive dealers. Even though there are onsite humps, its sheer power still brings a strong sense of stability.

Huaifu said that “Tiggo 4 and

a recovery trap if it did not have sufficient resources to deal with the devastation caused by the 2022 floods.

“My fear is that Pakistan will be in the resilience and rebuilding trap if there are not enough resources to plough into the devastation wrought by the 2022 flooding. While there is no clarity on what level of monsoon to expect next, the rebuilding projects will certainly be impacted as well as economic recovery, if even a fraction of the devastation repeats itself.”

Sherry Rehman said, “The forecast predicts strong winds and hailstorms that may cause damage to infrastructure and standing crops, particularly the wheat crop. Farmers must manage their activities keeping in view the weather forecast to avoid damage to crops and infrastructure. In addition, heavy rains may cause flash floods in Mansehra, Abbottabad, Chitral, Dir, Swat, Kohistan, Gilgit-Baltistan, and Kashmir from May 1st to May 4th. Parts of Balochistan and hill torrents of D.G

Khan may also experience heavy rainfall from April 28th to May 2nd. Landslides may occur in hilly areas of Khyber Pakhtunkhwa, Gilgit-Baltistan, Kashmir, Murree, and Galliyat during the forecast period.”

The minister highlighted that across Pakistan, from Kashmir to Karachi, we must prepare to expect unstable weather patterns leading to sporadic urban flooding “The fishing community is advised to be cautious, particularly off the coast of Ormara, Pasni and Gwadar, due to the possibility of choppy seas and extreme weather conditions. It is important for the citizens to take necessary precautions and stay informed about weather updates during this period.” According to PMD, the regions that will be affected by rain, wind, and thunderstorms include Kashmir, Gilgit-Baltistan, Peshawar, Charsadda, Nowshera, Swabi, Mardan, Bajaur, Kurram, Waziristan, Kohat, Islamabad, Murree, Galliyat, Rawalpindi, Attock, Chakwal, Jhelum, Gujranwala, Sialkot and Lahore.

Tiggo 8 are our star products in Pakistan and our dealers are requesting us to introduce more products of Tiggo family, which they are confident will be well-received across Pakistan.”

Over the past few years, air pollution in Pakistan has increased dramatically, making Pakistan one of the most vulnerable countries to climate change caused by air pollution. There is a need to reduce vehicle tailpipe emissions, and electric vehicles are an effective solution. However, because of the limited infrastructure (such as adequate charging facilities) needed to support a large-scale transformation.

TPLI’S ACQUISITION OF TARGET COMPANY APPROVED

PROFIT REPORT LAHORE

ON April 26, the Pakistan Stock Exchange (PSX) announced that TPL Insurance Limited (“TPLI”), a subsidiary of TPL Corp Limited (“the Company”), had accorded its approval for the acquisition of operations of a significant insurance player in the Pakistani market, Target Company.

This will be done through the scheme of amalgamation, to be sanctioned through the High Court. After its sanctioning, the net assets of the Target Company will be merged into the TPLI. Both the sanction and transaction are expected to be completed by December 31, 2023.

TPLI was launched as a Life and Health insurance company in Pakistan. It launched innovative Insurance products to increase its market share all over the country through creative marketing tactics.

TPL Insurance is also part of a larger corporation, TPL Corp, the hold-

ing company. (In 2017, TPL Trakker Limited was renamed TPL Corp Limited, which now controlled TPL Insurance and so on, while the data location and tracking services were incorporated into a separate company, called TPL Trakker Ltd.)

“TPL-Life seeks to confront deeprooted hindrances in the sector – low public confidence, coupled with a deep-seated

US default on debt would trigger ‘economic catastrophe,’ Yellen says

mistrust of insurance companies,” said its Chief Executive Officer (CEO) Faisal Shahzad Abbasi. “The company seeks to change expectations of the public of insurers, and create greater awareness of how insurance operates elsewhere in the world,” he said in an exclusive interview with the Profit Magazine. The group had acquired Asia Care Health & Life, a local insurance com-

Balochistan Glass acquires 50pc ordinary shares of MMM Holding

pany, in July 2016 and since then to get penetration in the Pakistani market the management was working on different products for the customers.

“The company has launched health and life insurance products, and made these available in retail outlets, the company’s website/mobile app and banking channels etc. This is just the beginning of our efforts to bring in the muchneeded change in life insurance sector. With time, we will gain healthy market share and carve a niche for ourselves with our exclusive offerings and services,” said the CEO to Profit in 2016.

Previously, in a notice issued to the Pakistan Stock Exchange (PSX) on October 20 2020, TPL Insurance said they had accorded their approval for an equity investment by DEG (a German development finance institution) of 19.9%, by way of fresh issuance of ordinary shares other than by way of rights issue.

TPLI’s acquisition of Target Company is another step ahead.

Govt fixes sugar price at Rs99 per kg

LAHORE SHAHAB OMER

As per the recommendation of the Sugar Advisory Board (SAB), the Ministry of Food Security and Research (MNFS&R) has set the retail price of sugar at Rs 98.82 per kg across the country and a notification has also been issued in this regard.

PROFIT REUTERS

U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government’s debt ceiling – and the resulting default – would trigger an “economic catastrophe” that would send interest rates higher for years to come.

Yellen, in remarks prepared for a Washington event with business executives from California, said a default on U.S. debt would result in job losses, while driving household payments on mortgages, auto loans and credit cards higher.

She said it was a “basic responsibility” of Congress to increase or suspend the $31.4 trillion borrowing cap, warning that a default would threaten the economic progress that the United States has made since the COVID-19 pandemic.

“A default on our debt would produce an economic and financial catastrophe,” Yellen told Sacramento Metropolitan Chamber of Commerce members. “A default would raise the cost of borrowing into perpetuity. Future investments would become substantially more costly.”

If the debt ceiling is not raised, U.S. businesses will face deteriorating credit markets, and the government will likely be unable to issue payments to military families and seniors who rely on Social Security, she said.

“Congress must vote to raise or suspend the debt limit. It should do so without conditions. And it should not wait until the last minute.”

Yellen told lawmakers in January the government could pay its bills only through early June without increasing the limit, which the government hit in January.

Unlike most other developed countries, the U.S. puts a hard limit on how much it can borrow. Because the government spends more than it takes in, lawmakers must periodically raise the debt ceiling.

Kevin McCarthy, leader of the Republicancontrolled House of Representatives, last week floated a plan that would twin $4.5 trillion in spending cuts with a $1.5 trillion increase in the debt cap, calling it the basis for negotations in coming weeks.

The White House insists the two issues should not be linked, and the Democratic-controlled Senate is likely to reject the proposal. Financial markets are growing increasingly concerned about the standoff, sending the cost of insuring exposure to U.S. debt to its highest level in a decade, with financial analysts warning about the increasing risk of default.

The notice stated that the Government of Pakistan has implemented the ‘Price Control and Prevention of Profiteering and Hoarding Order 2021’ under the ‘Price Control and Prevention of Profiteering and Hoarding Act, 1977 (XXJX of 1977)’, in accordance with Sections 3, 4, and 6. The order was issued on August 24th, 2021 through S.R.O No. 1062(1)/2021 and S.R.O No. 1065(1)/2021, and it includes white sugar in PART-II of the schedule, and sets the price of white sugar based on the recommendations of the SAB.

The notice explains that the price of sugar has increased by an unprecedented percentage of over 30% in the current month. Therefore, it is in the best interest of the public to regulate the price of this essential commodity to protect consumers.

Furthermore, the notice disclosed that during its 6th meeting on April 17th, 2023, the SAB approved the sugar price that was calculated by the MNFS&R.

Concerned Pakistan Sugar Mills Association (PSMA) and provinces were also instructed by the SAB to provide their feedback on the intended sugar price, as per Sections 3 and 6 of the

Price Control and Prevention of Profiteering and Hoarding Act, 1977, and SRO 1062(1)/2021 dated August 24th, 2021.

The PSMA and provinces were requested to submit their feedback and comments by Thursday, April 20th, 2023. However, the PSMA requested for more time instead of providing comments on the costing, which goes against the larger public interest. In accordance with the SAB’s advice, the Provinces’ data and other relevant government agency information were reviewed before making the decision.

Lastly, the notification informed that under the Price Control and Prevention of Profiteering and Hoarding Act, 1977, and the provisions of regulation 3 to 5, along with Part II of ‘Price Control and Prevention of Profiteering and Hoarding Order 2021’, the Controller General of Prices has fixed the maximum retail price of locally produced white crystalline sugar at Rs. 98.82/kg.

This price is inclusive of an ex-mill price maximum of Rs. 95.57/kg, along with sales tax. The Provincial authorities and ICT are directed to implement this order under the powers delegated to them by SRO.No.1(7)/ 2005-CA, Vol-III dated 14th September 2006, and urged to take action against mills, distributors, dealers and retailers who fail to comply with the order. To ensure the successful implementation of the order, authorities exercising the delegated powers of Controller General of Prices in the Provincial and Federal jurisdictions are required to file a weekly compliance report. Those who are aggrieved by this order were instructed to appeal before the appellate committee under the “Price Control and Prevention of Profiteering and Hoarding Order – 2021. It was finally communicated that the order will remain in force until the start of the next crushing season, unless rescinded or modified earlier. The notification concluded by stating that this order comes into effect immediately.

ISLAMABAD STAFF REPORT

A ship carrying 37 Pakistani nationals from war-torn Sudan has reached Saudi Arabia’s Jeddah as fighting between the army and paramilitaries killed and wounded hundreds.

Taking to Twitter, Foreign Office (FO) Spokesperson Mumtaz Zahra Baloch wrote: “Evacuation plan for Pakistani nationals in Sudan continues. Another ship carrying 37 Pakistani nationals from Port Sudan arrives in Jeddah.”

“They were received by Pakistani Counsel General (CG) in Jeddah, Khalid Majid on arrival at Jeddah Port. We are grateful to the Government of Saudi Arabia for its support and hospitality,” the FO added.

In another statement, the FO said that “another convoy of 200 Pakistanis has arrived safely in Port Sudan”. It added that the “Embassy of Pakistan in Sudan will continue to facilitate their stay in Port

Sudan and arrange their eventual repatriation”.

So far, over 700 Pakistanis have been evacuated to safety from the war-torn country.

PROFIT REPORT

LAHORE

According to a Pakistan Stock Exchange (PSX)

notification, the Balochistan Glass Ltd (BGL) has received a Notice of Punjab Announcement of Intention (PAI) from Tariq Glass Ltd (TGL), through AKD Securities Ltd (AKDS). AKDS is acting as the Manager to the Offer. As part of this notice, BGL will acquire up to 50% ordinary shares of MMM Holding (Pvt) Ltd, which is a holding company of BGL. Balochistan Glass Limited was set up in 1980 as a public limited company under the repealed Companies Act, 1913 (now, Companies Act, 2017). The company manufactures and sells glass containers, glass table wares and plastic shells. According to an article published by Business Recorder, BGL’s financial performance contracted from 2014 to 2018, and increased again in 2019 and 2020. BGL saw the largest decline in its revenue in 2017 and incurred an overall loss of Rs 491 million. The company experienced the highest growth in revenue in 2020, ever since 2014.

TGL was established in 1978, and two years later, it was converted into a public limited company. The company manufactures and sells glass containers, opal glass, tableware and foat glass under the brand names Omroc, Toyo Nasic, and NOVA glassware. The company is present in both the domestic market as well as the international market, selling to countries like Afghanistan and Sri Lanka.

TGL has mostly been experiencing an upward trajectory in its growth since its inception in 1978.

According to an article published by Business Recorder, the only exception to this trend has been the outbreak of the Covid-19 pandemic.

Previously, MMM owned 78.61% ordinary shares of BGL and was one of its listed companies.

Furthermore, it has been disclosed that MMM acquired an additional 15,000,000 ordinary shares of BGL on April 17, 2023. Thereafter, its shareholding in BGL increased from 205, 644, 430 ordinary shares to 220, 644, 430 ordinary shares. This means that presently, MMM is holding around 84.3% shares of BGL. Now, TGL intends to acquire beyond the thresholds prescribed under section 111 of the Securities Act, 2015. The BGL Board of Directors has been notified of this intention.

Gold hits another all-time high

PROFIT REPORT STAFF REPORT

Pakistan’s gold prices rose to a new record high on Wednesday, with the price of 24-carat gold increasing by Rs450 per tola and Rs386 per 10 grams to reach Rs218,650 and Rs187,457, respectively. The surge in gold prices is due to a weakened rupee and soaring inflation, with economic uncertainty driving people towards gold as a hedge against inflation and the rupee’s devaluation.

Furthermore, the delay in an IMF bailout agreement has negatively impacted the currency market, further boosting the demand for gold. The price of silver also reached a new record high, with the rate increasing by Rs40 per tola and Rs33.36 per 10 grams. Gold had reached a previous record high of Rs218,600 per tola on April 14. Silver prices in the domestic market have also reached a new record high, increasing by Rs40 per tola and Rs33.36 per 10 grams, reaching Rs2,570 and Rs2,203.36, respectively. With the economic uncertainty and ongoing pandemic, the prices of precious metals continue to rise globally.

JS agrees to pay BankIslami minority shareholders in cash rather than in kind

PROFIT REPORT KARACHI

Acquiescing to the demands of minority shareholders, JS Bank Limited has decided that its bid to buy 24.88% shares in BankIslami shall be in cash instead of in kind.

JS Bank announced back in March this year that they would be a deal with two big shareholders of BankIslami, namely the Randeree family which owns 19.5% and Jahangir Siddiqui and Co Ltd, which is also the holding company of JS bank and owns 21.3% of BankIslami.

JS Bank itself already owns 7.8%, and if we add all three up, it takes JS Bank to 48.6%. Just a little short of the magic number of 51%. This is where the deal with

Sumya Developers, a relatively small shareholder with 1.7% stake of BankIslami comes in. Assuming all regulatory approvals come in, this would take the tally to above 50%, allowing JS Bank to have majority control of the islamic bank.

However, as per SECP laws, JS Bank has to make an offer to acquire a minimum of 50% of the remaining shares, owned mostly by small shareholders. One would expect that these shareholders would be settled in cash, but a recent SECP regulation covered by Profit as part of its March 19th cover story allowed banks like JS to offer minority shareholders its own shares in exchange for BankIslamic shares instead of cash.

Essentially, would lose out on the opportunity to exit at a premium above the

market price by simply being paid in kind with shares of JS Global and JS Investments (two other companies owned by Jahangir Siddiqui) rather than in cash.

In its notification to the PSX, JS Bank made it clear that to pay out this cash the bank’s board was going to issue 220,568,925 ordinary shares by way of rights at Rs. 10/- each for the aggregate subscription amount of PKR 2,205,689,250 in proportion to their respective shareholdings in the ratio of 17 Right Shares for every 100 Ordinary Shares, to the existing shareholders of the Bank.

Moreover, the proceeds from the intended right issue will primarily be used for making payment to public shareholders of BIPL, who would tender their shares to the

Bank during the intended public offer, which is in accordance with the provisions of Listed Companies (Substantial Acquisition of Voting Shares & Takeovers) Regulations, 2020.

The JS and BankIslami story

Last we heard about these two banks together was when news broke that Jahangir Siddiqui, was on the brink of acquiring his second commercial bank, BankIslami. Ever since, people have been wondering whether this momentous transaction will come to fruition, and whether Siddiqui will be successful in etching his name in history as the very first individual to own and manage two Pakistani commercial banks simultaneously.

However, there were bigger concerns raised than simply a billionaire on his way

to own two banks. Firstly, When it became public knowledge that the JS group was seeking to buy a controlling stake of 51% in BankIslami, which is the third-largest Islamic bank in Pakistan, people were sceptical of foul play by Jahangir Siddiqui.

One of the concerns raised with JS Bank’s attempt to takeover BankIslami was the accusation that Jahangir Siddiqui was shortchanging minority shareholders of BankIslami through possible stock price manipulation and regulatory capture. The loophole to make this possible was provided by the SECP themselves but the newest development has shown that pressure from minority shareholders may have prevailed in the face of the recent SECP amendment.

Ship carrying 37 Pakistanis from war-torn Ayria reaches Jeddah: FO