Epaper_23-05-24 KHI

Profit

LEADERS’ EXODUS FROM PTI CONTINUES AS SHIREEN MA Z ARI, CHOHAN ALSO JUMP SHIP

Govt set to present budget FY24 in NA on June 9

Prime Minister Shehbaz Sharif on Tuesday was briefed about preparation of the budget for the upcoming financial year 2023-24 (FY24), which will be presented on June 9 in the National Assembly after approval by the federal cabinet

TH E Pakistan Tehreek-e-Insaf continued to suffer blow from defection as two more senior leaders – former Federal Minister for Human Rights Shireen Mazari, and Fayyazul Hasan Chohan announced quitting the party

So far, 24 PTI leaders have now publicly parted ways with the party a situation some political analysts are attributing to pressure from external forces after the tragic incidents of May 9

Speaking at a press conference, Mazari said that she will not be involved in politics in the future, while Chohan said he would continue his political struggle, but without PTI

Joining Mazari and Chohan in parting ways with PTI is Abdul Razaq Khan Niazi a former PTI Member of Provincial Assembly (MPA) from Khanewal

In a press conference Niazi condemned the attacks on military installations and suggested that such actions could not have occurred without the support of the party leadership He further claimed that the events of May 9 had brought joy to India insinuating a connection between the PTI s actions and India s interests

Additionally PTI leader Khawaja Qutab Fareed Koreja from Liaqatpur has decided to join the Pakistan Peoples Party (PPP) after observing the growing strength of the party in south Punjab and the shifting political landscape

On the other hand in a cryptic reference to “forced divorces Pakistan Tehreek-e-Insaf (PTI) Chairman

Imran Khan on Tuesday responded to the ongoing exodus of leaders from the party with the total now reaching 24 since the violent arson incidents of May 9

We had all heard about forced marriages in Pakistan, but for PTI, a new phenomenon has emerged: forced divorces Also wondering where have all the human rights organizations in the country disappeared the former prime minister said in a tweet from his official account

In his response Imran raised questions about the situation s implications for human rights within the country, subtly questioning the sudden absence of human rights organszations during these developments

The wave of resignations marks a significant period of turmoil for PTI which was toppled from government on April 9 last year when Imran Khan was ousted from the office of premier through a vote of no-confidence

The attacks on military monuments and buildings have prompted several PTI members to abandon the party and condemn the incidents Some political analysts speculate that the exodus is a result of pressure from ‘external forces’ PTI Chairman Imran Khan has repeatedly claimed that party members face immense pressure to abandon the PTI

Prominent figures who have recently left the party include former federal health minister and founding member of PTI Aamer Mahmood Kiani, Chaudhry Wajahat Hus-

sain (brother of Pakistan Muslim League-Quaid (PMLQ) chief Chaudhry Shujaat Hussain) former federal minister Malik Amin Aslam former provincial minister Dr Hisham Inamullah Malik, PTI West Punjab President Faizullah Kamoka, and Dr Muhammad Amjad Departures have also been witnessed in Sindh, where Mehmood Moulvi (PTI Sindh Vice President) Aftab Saddiqui (PTI Karachi President) Syed Zulfiqar

Ali Shah Jay Parkash Sanjay Gangwani and Dr Imran Shah have left the party In Khyber-Pakhtunkhwa (K-P) Ajmal Wazir (former spokesperson for the K-P Chief Minister and adviser on information), Usman Tarakai, and Malik Jawad Hussain have departed from the PTI Meanwhile, former provincial minister Mubeen Khilji has quit the party in Balochistan

The PM was briefed about revised estimates of revenue and expenditures and target estimates for the next year The economy has been on a positive trajectory toward financial stability and a decrease in deficit, the meeting was informed PM Shehbaz said that all available resources should be used to reduce the financial difficulties and provide relief to the middle class He expressed satisfaction that prices of urea are continuously decreasing as a result of timely and prudent strategy of the government

He said that during the past two months, a current account surplus has been achieved after many years and the economy of the country is heading towards positive trajectory He directed to take concrete steps to increase revenue and enhance tax net

The prime minister also directed the authorities concerned to finalise pension reforms at the earliest and establish a pension fund through adopting creative methods to lessen the burden on the national treasury to ensure welfare of the pensioners

Ambassador Durrani appointed special envoy on Afghanistan

RAWALPINDI: Pakistan Tehreek-e-Insaf (PTI) senior leaders – Shah Mahmood Qureshi, Jamshed Iqbal Cheema and his wife Musarat Jamshed Cheema were rearrested moments after they were released from Adiala Jail on Tuesday evening As per details PTI Shah Mahmood was released from Adiala jail but he was taken into custody right after his release Similarly PTI claimed that party leader Musarrat Cheema was rearrested upon her release, terming it an example of the government s fascism

These practices must be stopped immediately, court’s decisions must be respected now,” the party said On the other hand Party leader Jamshed Cheema re-arrested upon release The PTI said party leader Jamshed Cheema has been re-arrested outside Adiala Jail upon his release The party s statement said Cheema was re-arrested by Punjab police

Earlier in the day, Islamabad High Court issued an order for the release of Shah Mahmood Qureshi

Upon reviewing the sworn statement submitted by Qureshi’s lawyers the honourable judges reached a decision and order for release of Shah Mahmood Qureshi

It is pertinent to mention here that PTI vice chairman Shah Mehmood Qureshi was taken into custody by police

A n a t o m y o f a b u d g

oftentimes, the miscalculation in the first two steps, renders the last 3 utterly moot

in Islamabad As per details Shah Mehmood Qureshi was arrested from Gilgit Baltistan House in Islamabad, soon after the riots erupted across Pakistan following the arrest of former prime minister Imran Khan in the Al-Qadir Trust case Qureshi’s arrest was an addition to the tally as several PTI leaders including former Governor Punjab Omer Sarfraz Cheema PTI secretary general Asad Umar and PTI Vice President Fawad Chaudhry were already apprehended by police

Earlier, there were reports that PTI leader Jamshed Cheema had decided to part ways with the party over May 9 violence According to a video of the counsel for Cheema he held a meeting with Jamsheed Cheema in jail “I am confident that he would quit PTI as soon as he comes out of jail he said Cheema s lawyer further said his client is upset over the attacks on military installations on May 9 Condemning the re-arrest and custodial torture of PTI leaders, workers and supporters, party chief Imran Khan has vowed to “resist till my last breath”

“The constitution is being brazenly violated along with SC rulings Police are being used to crush PTI our leaders forced to quit the party he further said in a tweet adding that giving into this cruelty means the death of our nation STAFF REPORT

M I A N A B R A R

Former Ambassador Asif Ali Durrani on Tuesday was appointed as special representative of Pakistan on Afghanistan The announcement came after a lapse of around two months when former special envoy on Afghanistan, Mr Mohammad Sadiq, resigned

A notification on the new appointment reads: “The

Prime Minister has been pleased to approve the appointment of Ambassador (retd) Asif Ali Khan Durrani as Special Representative on Afghanistan with immediate effect Ambassador Durrani, a career diplomat, served as deputy chief of Pakistan’s mission in Kabul from 2005 to 2009 He also served as Pakistan’s ambassador to Iran and United Arab Emirates (UAE)

Capital Account Expenditure on Revenue Account signifies that portion of expenditure which is met from resources such as tax revenue and receipts, whereas expenditure on Capital Account refers to expenditure which is financed from loans finances credits grants and other borrowings The biggest current expenditures on

and provinces

In essence making a budget is an accounting exercise, with underlying policy objectives The accounting exercise is divided into 6 essential steps namely, Preparation Authorization Execution Reporting and Monitoring Review and Policy setting This sounds a well-rounded approach to tackle the exercise however

international and domestic sources However it is this very unsustainable nature of budgeting that has led Pakistan to where it is today With virtually no opposition in the legislative assembly, the federal government is most likely to pass their version of the budget this time around A budget that gets implemented without opposition is not entirely representative of the people s wishes Specifically a budget as critical as that of 2023 One thing is however clear as day In terms of development, quality of life and economic stability, 2023-24 is possibly going to be one of the worst years for the common man

but what is he leaving behind? g ‘ FORCED DIVORCES ’: IMRAN REACTS TO LEADERS ’ EXODUS FROM PTI g S O FA R 2 4 P T I L E A D E R S H AV E P U B L I C LY PA R T E D W AY S W I T H T H E PA R T Y g AFTER PUTTING BUSINESS ON A PROFITABLE PATH, AQIL BIDS FAREWELL TO ONE OF LARGEST MICROFINANCE INSTITUTIONS

large fraud in the microfinance lending business had just been uncovered presenting Aqil with a daunting task upon his arrival The bank was in a difficult situation when I joined due to the recent discovery of significant fraud in our microfinance lending business The aftermath of fraud was what I had to deal with after my joining ” says Aqil while reflecting on his first days heading Easypaisa How did Easypaisa come out of this mess? When the management of Mudassir Aqil

KARACHI M A R I A M U M A R FA R O O Q More than three years after taking charge as CEO of Easypaisa M Mudassar Aqil has decided to step down from his position to pursue an opportunity overseas The departure marks the end of a formative period in the history of the Telenor Microfinance Bank Limited, better known as Easypaisa, in which the company came out of the smoke of fraud allegations and became profitable Mudassar joined Telenor Microfinance Bank Limited (Easypaisa) as CEO in November 2019, replacing Shahid Mustafa This was not his first stint in the microfinance sector, previously he was a CEO at FINCA, another microfinance institution in Pakistan At the time a

came in, they identified credit irregularities in the loan portfolio, which included cases of collusion to commit fraud between employees and people outside the bank This resulted in a lot of controversy for the microfinance bank Apart from the controversy the fraudulent loans resulted in huge losses As of 2019, Telenor Microfinance Bank had accumulated losses of around Rs 16 5 billion which had increased to a whopping Rs 27 billion in 2020 The fraudulent loans contributed to more than half of the losses the bank experienced between 2019 and 2021 To counter this Easypaisa restructured their lending portfolio and wrote off loans So basi-

We exited the agriculture bullet lending business where the majority of the fraud had occurred” says Aqil Apart from restructuring loans Telenor injected more equity into the business We eventually moved the business to a new strategy where primarily it is a digital-first bank We embedded both businesses into one business and made the entire bank on a digitalfirst strategy And in that process we had to take an impairment charge on the lending portfolio of roughly Rs14 billion – 15 billion Telenor and Ant group major shareholders of Easypaisa, funded the impairment loss which gave Aqil a clean slate to establish the business once again The shareholders have collectively invested $270 million in the bank More recently the two shareholders injected equity of Rs 3 9 billion or $ 22 million in February 2022 to help the management carry out its business plan of becoming a digital retail bank When you are building a digital platform, you incur some high upfront costs And then the idea is that to achieve scale and after scale profitability will follow Scale is expensive because of the high cost of customer acquisition through digital channels

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I M R A N L E AV E S N A B R AW A L P I N D I A F T E R 4 - H O U R - LO N G I N V E S T I G AT I O N I N A L - Q A D I R T R U S T C A S E

ISLAMABAD

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The case alleges that the former premier and his wife obtained billions of rupees and land worth hundreds of kanals from Bahria Town Ltd for legalising Rs50 billion which was later identified and returned to the country by the UK during the tenure of the PTI government

The PTI chief and his wife, Bushra Bibi, arrived at the NAB office a little after noon

Ahead of their arrival security outside the bureau was tightened

During the investigation the NAB s Combined Investigation Team (CIT) gave the PTI chief a questionnaire pertaining to the case The questionnaire seeks answers to the following questions:

In December 2019 why was a summary prepared for the approval of the return of illegal money from the UK?

In December 2019, why was the approval for surrendering the return of illegal money from the UK given?

Why was the land for Al Qadir University and other monetary benefits taken from the suspect in return?

Why was the power abused while sitting in the highest public office role?

Why were monetary benefits obtained

ISLAMABAD I N p A meeting of Senate Standing Committee on Finance and Revenue held here at Parliament House on Tuesday with Senator Saleem Mandviwalla in chair deliberated on the various prebudget proposals put forwarded by different

stakeholders

Aisha Ghaus Pasha Chairman FBR

Asim Ahmad, Special Secretary Finance Division Hamed Yaqoob Shiekh, CEO PBC Ehsan Malik and Presidents of various chamber of commerce and industries were also in attendance CEO Pakistan Business Council Ehsan Malik apprised that 100 of the

from the suspects by abusing power?

Why was a criminal act committed by returning the illegal amount from the UK to the suspects?

TI Chairman Imran Khan on Tuesday spent nearly four hours at the National Accountability Bureau s Rawalpindi office in connection with the probe in the Al-Qadir Trust caseWhy were the letters and correspondence with the British National Crime Agency kept secret?

Why was the summary for the East Recovery Unit kept secret?

Imran was whisked away from the Islamabad High Court (IHC) premises by paramilitary forces in connection with the case on May 9 leading to violent protests across the country

The PTI chief had immediately approached the high court for release but it had declared his arrest legal However, following the Supreme Court’s verdict of the arrest being unlawful, he was released Meanwhile earlier today an accountability court granted bail to Imran s wife Bushra Bibi in the same case until May 31

AL-QADIR TRUST CASE A ‘PROPAGANDA STUNT’

On the other hand, PTI lawyer Babar

Awan has said that the Al-Qadir Trust case was a “propaganda stunt”

The new NAB law states that unless somebody gets ill-gotten money in their pockets, only then can action be taken against them, he told media persons outside the accountability bureau’s office “There is no case, this is just a persecution ” Awan claimed that PTI workers across the country were all jailed in fake cases So we fight for the democracy rule of law and

most prominent business of the country are generating 40pc export in addition to its 20pc share in GDP and approximately 56 pc tax have been collected from it He suggested that equitable tax regime should be initiated, besides providing ease of doing business and reducing the manufacturing cost Representatives of Chamber of Commerce and Industries unanimously underscored the need of broadening the tax base of the country and demanded that super tax ranging from 1 to 10 pc on different affluent individuals and companies should be withdrawn They also highlighted the need of revisiting the Pak-Afghan transit Dr Khurram Tariq President Faisalabad Chamber of Commerce and Industries maintained that the small business, having turnover of around 150 million rupees should be exempted from computerised balloting audit for sales tax and an audit of said businesses should be completed within six months

upholding the Constitution in the country

Responding to questions regarding the NAB investigation today, the lawyer said that the government should apologise to Imran and Bushra Bibi

NAB SUMMONS

Earlier this month the NAB had summoned Imran and his wife, Bushra Bibi, in connection with the Al-Qadir Trust case and the investigation into the alleged misuse of authority as public office holder in aiding and abetting illegal transfer of £190 million for personal gains but they did not appear before the bureau Imran, however, had submitted a detailed reply on May 18 and said that he was not the custodian of the document signed between property tycoon Malik

instead of preceding for five years He apprised that the measures will help the small business to flourish and eventually it will enhancing their productive contributions

However, Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industries mentioned that the industries located in the erstwhile FATA are currently exempted from sales tax and the concession is putting steel industries located in settled areas at great disadvantage He suggested that an equitable environment should be created by withdrawing the said exemption so that the industries of both sides could flourish at same pace Representatives of Karachi chamber of commerce and industries stated that 3 pc value added tax which is being charged on raw materials at import stage is unjustifiable and it should be revisited They also apprised that major bulk of buyers in the country are unregistered

Riaz s family and the National Crime Agency (NCA) nor did he have any copy of the document “All the allegations made by you in the call-up notice are absolutely false frivolous and concocted and based on a deliberate misconception of law and facts and baseless conjectures and surmises, the PTI chief said in his reply

He said the correspondence between the government of Pakistan and NCA UK constituted an official record and should be with the department concerned

Similarly the correspondence (sought by NAB) comprises official records and should be with the department concerned of the government, and I cannot provide the same as I am not its custodian,” he said,

and provision of CNIC on supplies to unregistered persons has become a major hurdle in business transactions Above all 3 pc further tax is being imposed on the registered supplier on the provision of buyer CNIC, they added They suggested that 3pc further tax on the registered sellers is not based on rationale and it should be revoked

Furthermore representatives of coca cola beverages apprised that Pakistan is second country after the Saudia Arabia where beverages are highly charged and the recent increase in Federal Excise Duty (FED) has reduced the sale around 25pc They suggested that FED on beverages should be reduced by 4 pc which is currently stands at 20 pc Afaq Ahmad Qureshi Member FBR apprised that the recommendations of all stakeholders have been received and FBR has initiated deliberations on the said proposals and will inform the standing committee accordingly

Militants kill six at energy plant in Hangu

PESHAWAR

R e u t e R S

Unidentified militants stormed a natural gas and oil extraction plant in Khyber Pakhtunkhwa on Tuesday killing four police and two private guards, police said The attack by up to 50 militants took place at a plant run by the MOL Pakistan Oil and Gas Company in the Thall tehsil of Hangu district near the Afghanistan border Irfan Khan a deputy superintendent of police (DSP) said No group has claimed responsibility The company did not immediately respond to a request for comment Police said the militants targeted two wells M-8 and M-10 with heavy weapons including rocket-propelled grenades

The security guards at M-8 repulsed the terrorists attack but the casualties took place at M-10, said Khan

The militants also damaged a solar power plant at the gas power plant

before fleeing to adjoining North Waziristan, where they had come from, he said Various militant factions, including the Tehreek-iTaliban Pakistan (TTP), have operated for years out of remote mountains in the northwest launching attacks on security forces and infrastructure in their campaign against the state Pakistan s oil and gas production has been falling continuously Oil production is down 18 percent in FY22 from FY-19; while gas is down 14 percent in the same period,” says Fahad Rauf, head of research at Ismail Iqbal Securities

He said no major discoveries were made in recent years largely due to the security situation circular debt and lack of local technical expertise

The country has exploited much of the existing producing areas but [is] not able to explore belts near the Afghan border due to the security situation,” added Rauf Rauf said that foreign investment and exploration activity was picking up in the Waziristan belt however the situation has worsened since the US withdrawal from Afghanistan

Foreign companies have been exiting for past many years, while Pakistan lacks the expertise and funds to tap unconventional reserves despite having one of the highest shale reserves in the world,” he added

adding that documents regarding the AlQadir Trust would be available with the chief finance officer (CFO)

“In this respect [CFO] informs me that he has already provided you (NAB) with the bulk of the documents mentioned in your call-up notice Accordingly you may kindly check your record before issuing me a fresh call-up notice as requested, Imran said

He also termed the case politically motivated” “Your (NAB) allegation that a call-up notice dated 02-03-2023 was earlier issued to me but I neither joined the inquiry nor provided documents specified therein This allegation is absolutely false and contumaciously malicious, he said and added during the entire course of the inquiry, NAB sent only one call-up notice which was promptly responded to “Thereafter you neither sent me any further call-up notice during the inquiry nor did you refute the purely legal objections he added

He said the NAB purportedly completed the inquiry and converted it into an investigation on April 28, but he was not provided with a copy of the inquiry report

The PTI chairman accused the accountability watchdog of playing an instrumental [role] in my abduction

He said he was present in the high court to file a plea seeking a court order to acquire a copy of the investigation report, but he was taken into custody “You, after taking me into custody pursuant to my illegal arrest delivered to me a copy of the said inquiry report he said in response to the notice

Gov t plans ‘alternative strategy’ to tackle economic woes

PR OFIT S ta f f R e p o R t

Imran’s wife secures pre-arrest bail in land dispute

ISLAMABAD

S ta f f R e p o R t

Bushra Maneka the wife of former prime minister Imran Khan has been granted pre-arrest bail in a land dispute case involving a property tycoon by the accountability court The hearing of the case took place in the Islamabad Accountability Court, presided over by Judge Muhammad Bashir The accountability court approved Maneka s pre-arrest bail plea until May 31 and directed her to submit a surety bond of Rs500 000 The court also issued a notice to the investigating officer to continue the investigation and scrutinise the evidence It should be noted that the Lahore High Court (LHC) had previously granted the former first lady security bail until May 23 and directed her to approach the relevant court by the given date During the court proceedings Bushra Bibi accompanied by her defense lawyer Khawaja Haris Ahmad requested a 10-day protective bail The court accepted the request and granted her bail until May 23

Bilawal says India ‘abusing’ G20 with occupied Kashmir meet

ISLAMABAD a f p

India is abusing its presidency of the G20 by holding a tourism conference in the portion of disputed Kashmir it occupies, Foreign Minister Bilawal BhuttoZardari told AFP

It is the first diplomatic event in the territory since Pakistan suspended trade and diplomatic ties with India in 2019, when New Delhi imposed direct rule on the part of Muslim-majority Kashmir it occupied and enforced a heavy security lockdown

I wish I could say I was surprised, but I think that this is a continuation in what is becoming a norm now, of India’s arrogance on the international stage,” he told AFP in a Monday interview in Muzaffarabad the capital of Azad Jammu and Kashmir

“They’re abusing their presidency of the G20 to push their colonial agenda but if they think that by holding one event in occupied Kashmir they can silence the voice of the Kashmiri people, then I believe that they are truly mistaken ” The Indian-occupied portion has been roiled for decades by a freedom movement seeking independence or a merger with Pakistan with tens of thousands of civilians, soldiers and Kashmiri armed men killed in the conflict Non-G20 member Pakistan has a smaller part and says holding the tourism meeting from Monday to Wednesday in the territory violates international law, UN Security Council resolutions and bilateral agreements The G20 participants

made up of the European Union and the world’s 19 top economies have been “put in a pretty awkward spot said the 34-yearold Bhutto Zardari

Those countries who make it a to remind us and protest how outrageous it is that international law has been violated in Europe:

I believe that they should be just

as outraged when international law is violated in Kashmir he said in a reference to Russia s invasion of Ukraine China, which also claims the Indian state of Arunachal Pradesh in full as part of Tibet has stood by Pakistan in condemning the meeting to promote tourism in the area renowned for its lakes, meadows and snowcapped mountains

Muslim nations Saudi Arabia and Turkey are not sending government representation while

some Western countries have scaled back their presence according to reports

PATIENT PEOPLE

India is attempting to portray what officials have called normalcy and peace in the violence-wracked region by inviting the international community to a sprawling wellguarded venue on the shores of Dal Lake in Srinagar

Over the past week residents have chafed under stepped-up security measures Hundreds have been detained in police stations and thousands including shopkeepers have received calls from officials warning them against any signs of protest or trouble

One of the most militarised zones in the world can never be s e e n a s n o r m a l , ” s a i d B h u t t o Zardari

E L E C T I O N S C R U C I A L F O R S A F E G U A R D I N G R I G H T S O F M I L L I O N S , A F F I R M S S U P R E M E C O U R T

ISLAMABAD S ta f f R e p o R t

UNDERSCORING the importance of holding elections within 90 days the Supreme Court on Tuesday said the rights of millions of people in the country were directly connected to the fundamental right to vote

This statement by Justice Munib Akhtar came during a hearing conducted by a threejudge bench in response to the Election Commission of Pakistan (ECP) petition to reconsider a previous judgement directing the government of Shehbaz Sharif to hold the Punjab Assembly elections on May 14

Headed by Chief Justice Umar Ata Bandial, the bench comprised justices Ijaz

ul-Ahsan and Akhtar who had previously issued the order for holding elections in Punjab

During the hearing, Sajeel Swati, the counsel for ECP, informed the court that the federal and Punjab governments had submitted their responses in the case which were recently obtained by the electoral watchdog

However Justice Bandial pointed out the response from the Pakistan Tehreek-i-Insaf (PTI) had not yet been received Swati confirmed that the ECP had not received responses from the opposition or any other political party Requesting time to review all the responses Swati appealed to the court to adjourn the proceedings However Justice Bandial asked him to present his arguments

in the case The judge assured Swati that if there were any new points to be raised they could be addressed in the next hearing He inquired about the potential grounds for the review petition

Following this, Swati began presenting his arguments asserting that the jurisdiction of the tribunal’s review petition was not limited to constitutional cases He argued that the Supreme Court s jurisdiction could be expanded but not restricted He further argued that the apex court s jurisdiction in review cases was restricted to civil and criminal matters In response Justice Ahsan highlighted that seeking courts intervention for fundamental rights was considered a civil case However Swati countered this by observing that proceedings under Article

to become a retail digital bank of choice for a common Pakistani The second focus will remain on small businesses Apart from that international remittances, freelancers, and women We are already keenly working on and in touch with relevant institutions On his next stint he commented that he would share the information in a couple of week s time It is an exciting opportunity I have been in the Pakistan market for the last 17 years I spent the

184(3) were not civil in nature Justice Ahsan pointed out that Article 184(3) had two sections: one related to the public interest and the other to fundamental rights Justice Akhtar posed a question, asking if a case related to elections was brought before the Supreme Court from a high court would it not be considered a civil case Swati responded by saying that the constitutional authority of a high court was greater than that of the apex court Justice Akhtar further pointed out the discrepancy in Swati’s argument, saying that according to him, if there was an appeal from a high court the jurisdiction was limited However in the case of a review petition Swati claimed the scope was not limited The judge questioned if this did not amount to discrimination in the case of

first 8 years outside Pakistan And now I am getting a new opportunity to go and learn a new market To grow myself and learn new things But I will still be in the fintech space It is an exciting opportunity and I look forward to continuing learning and growing

Despite his departure, Aqil is confident in the strong foundation of Easypaisa believing that it will continue to thrive and achieve even greater success He remarked I am very excited for what I am leaving behind I think easypaisa is on very strong footing It is stronger than ever And I think it will be growing from strength to strength ”

fundamental rights

Additionally the judge raised concerns about the ambiguity created in the court s jurisdiction Swati asserted that Article 184(3) of the Constitution did not grant the right to appeal, emphasizing that the scope of the review petition could not be limited as a result He said that in reviews, the court had to consider the requirements of justice and new points could only be raised in constitutional cases Justice Akhtar questioned whether the lawyer was arguing that a review under Article 184(3) should be treated as an appeal Swati affirmed this and added that the jurisdiction of the review was not limited in cases under Article 184(3) Justice Ahsan expressed concern that accepting the ECP lawyer s argument would lead to immediate hearings in review cases He said that the Constitution did not equate the scope of the right to appeal with that of review Justice Munib observed that granting the ECP’s request would complicate matters further Swati argued that the Constitution did not restrict the scope either and suggested that Article 187 of the Constitution could be used for absolute justice in reviews

Scorching summer spurs increased demand for mangoes

ISLAMABAD S ta f f R e p o R t

CII boss

urges awareness campaign against offensive content on social media

ISLAMABAD S ta f f R e p o R t

Dr Qibla Ayaz, the chairman of the Council of Islamic Ideology (CII), emphasized the need for a public awareness campaign across all forms of media to discourage offensive content and highlight relevant laws to guide the younger generation In an interview with PTV News, Dr Ayaz urged electronic media to broadcast programs focused on the biography of the prophet as a response to such insolence aiming to present the role of a true Muslim based on divine commands and sunnah He further emphasised the importance of reporting such content on social media platforms to the Pakistan Telecommunication Authority (PTA), the Federal Investigation Agency (FIA), or the Ministry of Religious Affairs Timely actions within the boundaries of laws and the Constitution can effectively address such situations he said Dr Ayaz added that regulating harmful speech in online spaces necessitates establishing a clear distinction between legitimate freedom of speech and hate speech He noted that digital platforms bear legal responsibility in relation to the distribution of illegal content, incitement to violence and terrorism and more Addressing a question he highlighted that the new rules would make immoral and obscene content punishable offenses Furthermore, social media companies and service providers will be required to develop community guidelines to inform users about content-uploading procedures

CDWP clears 15 development projec ts wor th Rs249.21b

ISLAMABAD

G h u l a m a b b a S

The Central Development Working Party (CDWP) has cleared 15 development projects worth Rs 249 21 billion during its meeting held on Tuesday

As per details the forum considered 15 projects related to the Ministry of Housing and Works Ministry of National Health Services Regulations and Coordination, Ministry of Communication, Power Division and Ministry of Railways

The forum has recommended Umbrella PC-1 of the Flood Protection Sector Project-III (FPSP-III)-Updated worth Rs 194 6b to the Executive Committee of the National Economic Council (ECNEC) for approval The Ministry of Water Resources is the sponsoring agency of the project while Provincial Irrigation Departments will execute the project

The main objective of implementation of Umbrella PC-I of FPSP-III of NFPP-IV is the improvement of country-wide comprehensive flood management approaches on an integrated and innovative basis by implementation of structural as well as non-structural interventions proposed under National Flood Protection Plan NFPP-IV

The major objectives of the project are to reduction in flood losses to private & public infrastructure in an economically sound manner, protecting urban & rural aabadies, agricultural lands besides, vital infrastructure installation, Technical feasibility & detailed design studies of Barrages/Bridges and hydraulic structures which need to be remodelled and upgradation of existing flood forecasting & warning facilities for better flood

forecasting The CDWP also recommended a revised Sehat Sahulat Program as per its approved cost Rs 31 93b to the ECNEC

Similarly, the forum also approved the Construction of Interchange on Hazara Motorway which connect Abbottabad & Sherwan Road right after first Tunnel (Shimla Hill Tunnel worth Rs1 82b, D I Khan Road Development Package Rehabilitation & Upgradation of Kundal Interchange (M-14) to Chashma -D I Khan Road (Revised) worth 2 80billion Construction of Railway Underpass Gojra District Toba Tek Singh worth Rs1 44b D I Khan Road Development Package Revised PC-1 for Rehabilitation & Upgradation of Pezu – Tank Road worth Rs 4 87b, Renovation and Construction of offices, Women Barracks & Multi-Purpose Training Rooms at the office of the Superintendent Railway Police Rawalpindi (Revised) worth Rs

310 375million

The establishment of Capacity Building & Institutional Strengthen in Planning Commission worth Rs 2 02b Electrification of villages at Dera Bugti –Package worth Rs

960 093million, Re-Commissioning of 5 no Accidental Diesel Electric Locomotives (Revised) worth Rs 2 48b, Rehabilitations of Firefighting system at KMC worth Rs

1 83b Provision of Missing Facilities of Swabi University worth 2 03b Establishment of Photar Campus of Punjab at Gujjar Khan worth Rs 638 45million Construction of Academic Blocks of Shaheed Zulfiqar Ali Bhutto Medical University worth Rs 2 89b, Updation of Rural Area Frame for the conduct of Censuses/Surveys worth Rs 361 736million also included the list

Mif tah Ismail rejec ts census data, demands to hold census across Pakistan again

KARACHI S ta f f C o R R e S p o N d e N t

ISLAMABAD S ta f f R e p o R t

Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr Shahid Rasheed Butt on Tuesday said medicines are becoming more and more expensive and gone

out of the reach of the common man Majority of the population reeling under unprecedented inflation is unable to get proper treatment due to the high price of medicines, he said Shahid Rasheed Butt, in a statement issued here on Tuesday, stated that taxes on the pharmaceutical industry should be abolished so that the people with eroded buying power can get affordable medicines He said that the depreciation of the rupee, inflation and the high price of utilities have harmed the pharma industry as well as other industries and their business cost has increased a lot which is being shifted to the masses The business leader said that almost every day some essential medicine disappears from the market which increases the public s anxiety Shahid Rashid Butt said that since last July, the value of the rupee has decreased by 78%, fuel price has increased by 142% per litre and electricity tariff has increased by 177% which has affected the public and the business community The overall cost of doing business for the industrial sector has increased by three hundred percent while the sales of the pharma industry have decreased by twentythree percent as people are compromising on healthcare

by Muttahida Qaumi Movement Pakistan (MQM-P) in Karachi to develop consensus against the recent digital census The former finance minister said that the statistics of the digital census are inaccurate and the counting of the country’s population should be conducted across Pakistan again He raised questions about the findings of 3% population growth rate in Karachi and the other parts of the country Tablet devices have already been purchased by the government Another census would cost from Rs17 to Rs18 billion to the national exchequer If the government makes expenses it would not be an issue as it is being spent for a cause in the country Ismail said that the economic and political situation will not improve until the nexus of the country s elites is

broken

IHC allows A sad Uamar, S hehr yar Afridi to meet law yers, family

As the mercury levels rise, markets, shops, and roadside vendors across the country have begun showcasing a wide variety of mangoes to entice customers According to a report by PTV News mangoes are the most popular fruit during the summer season in Pakistan With over 600 varieties available, Pakistani mangoes are considered among the best in the world Aside from their sweet, delicious taste, mangoes also offer numerous health benefits as stated by a nutrition expert A horticulturist explains that mango orchards in Sindh and Punjab are the primary sources of mango production in the country The cities of Multan and Bahawalpur are famous for growing Sindhri, Langra, Chaunsa, Anwar Ratol, Dussehra, Almas, and Saroli varieties In Sindh Saroli is the first to be harvested followed by Dussehra Desi and finally Sindhri A mango vendor selling from a pushcart claims that the fruit is being sold in large quantities due to its affordability The increasing demand for mangoes has resulted in good profits, with the vendor earning up to Rs3,000 on a good day A customer expresses that mangoes at every stall are attracting buyers In addition to their irresistible taste mangoes offer various advantages and health benefits Another customer at a weekly bazaar mentions that mangoes in Pakistan are consumed in multiple ways Vendors are earning substantial amounts due to the booming sales Social media platforms such as Instagram, Facebook, and WhatsApp groups are also showcasing a variety of mangoes through pictures and videos to attract customers online Consequently online sales of fruits have experienced a surge An online customer highlights the main advantage of purchasing mangoes online, as they can now be conveniently delivered to doorsteps without any additional hassle

Siraj blames PDM, PPP for coming to power through backdoor

LAHORE S ta f f R e p o R t

Amir Jamaat-e-Islami (JI) Sirajul Haq has said that if the PTI made the government in 2018 with the backing of the establishment, the incumbent alliance of the PDM and the PPP also come to power by adopting the same pattern holding the troika responsible for the prevailing economic and political crises Presiding over the party meeting at Mansoorah on Tuesday, he expressed concern over the deteriorating law and order situation in the country and particularly the rise in terrorism incidents in Balochistan and Khyber Pakhtunkhwa

The meeting condemned the Zhob suicide attack on the JI Emir demanding a transparent investigation into the terror incident It welcomed the release of Maulana Hidayatur Rahman Baloch from jail on Tuesday at the order of the Supreme Court Sirajul Haq congratulated the people of Gwadar on the release of Baloch, asking the government to honour the agreement it signed with the Gwadar Rights Movement He called for the restoration of subsidies on electricity gas and other basic needs in the budget He said the country was burning due to the fight between the PDM and the PTI, as neither side was willing to adopt the seriousness and come to the table for dialogue

MFI ranking improvement reflects freedom of press in Pakistan : Marriyum

ISLAMABAD S ta f f R e p o R t

Minister for Information and Broadcasting Marriyum

Aurangzeb has stated that government believes in freedom of press and improvement of Pakistan s ranking in the Media Freedom Index (MFI) by seven grades testifies this fact Talking to British journalist Sikander Kirmani she said Pakistan’s ranking has improved due to promotion of media freedom during the last one year of PML-N led coalition government

courts ISLAMABAD S ta f f R e p o R t The Islamabad High Court (IHC) on Tuesday granted permission to PTI’s leaders including Asad Umar and Shehryar Khan Afridi to meet his family members and lawyers during the custody Justice Arbab Muhammad Tahir hearing the case also instructed the authorities to provide the case record against Shehryar Khan to his lawyer The further hearing of the case was then adjourned till May 29 It may be mentioned here that Shehryar Khan Afridi was arrested by the police under 3-MPO Asad Umar ’s Lawyer Amna Ali adopted the stance that his client was not well and requested the court to allow provision of home food to him during custody His family should also be permitted to meet him he said The court accepted the request and adjourned the case Meanwhile, Justice Aamer Farooq also granted permission to PTI’s leader Colonel (retd) Ajmal Raja to meet his lawyers and family members The lawyer adopted the stance that he was allowed once to meet his client but second time he was not permitted The court accepted the request and adjourned hearing till May 25

The Minister lamented that Pakistan s ranking was downed during PTI s rule due to media checkreins, injustices done to journalists and ban on TV channels She said Imran Khan was named media predator by an international journalist association due to his government’s brutal crackdowns on freedom of media Marriyum Aurangzeb said there should be a difference between a journalist and a political worker She said a person who fans violence and hatred under the garb of journalist cannot be included among those who believe in free journalism The Minister said Imran Riaz is not a

Preliminary census results

TH E preliminary results of this year s census, conducted digitally for the first time have been announced even as rumblings of discontent about these results arise The census is premature, not being due until 2027 the previous one having been conducted in 2017 However that one was taken nine years late after the one in 1998 That was late, coming six years after one was due While Partition itself did not stop the 1951 census happening on time with the series starting in 1881 continuing on both sides of the border, the 1971 War caused the first delay, with the cenus due in1971 conducted in 1972

If decennial censuses are prescribed in the Constitution, why are there these delays? It is precisely because of the constitutional provision that a purely statistical exercise has been fraught with, even dominated by, political implications The Constitution prescribes a census so that it becomes the basis of allocation of National assembly seats to the respective provinces and of the electoral roll, which is to be prepared afresh Censuses also mean fresh allocations of provincial assembly seats between districts Further it also determines the distribution of resources between provinces from the federal divisible pool Politicians have tried to duck to question either by delaying the census or even delaying the notification of a census already held, as was done with the 2017 census From an objective scientific exercise the census becomes an emotive political tool Censuses are expensive to conduct, and involve large numbers of people, apart from providing an entire government department the Census Bureau with 10 years of fulltime activities, preparing various reports, before the next census Censuses also determine where roads are built and hospitals erected The 2018 elections had to be conducted on delimitations based on un-notified results through a one-time constitutional amendment There was an understanding that the census would be carried out early, correctly The MQM claimed its strongholds were undercounted, and there has been a repetition of the charges against the current exercise Getting the census results accepted by all is the responsibility of the federal government However, while politicians wrangle over constituencies and resources the census presents the picture of a country bursting at the seams with people Without a vigorous population policy in place, Pakistan seems well on its way to a mind-boggling population by mid-century when demographers rather optimistically expect the population to begin stabilizing at half a billion Well, at an estimated 247 million, we’re almost halfway there

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late)

Founding Editor

Yousaf Nizami Editor

M A Niazi Joint Editor Umar Aziz Executive Editor

IT looks as if Pakistan s situation is no different from that of a third-world country where the elites power struggle is in full swing all stakeholders are poised to burn down the whole edifice only to spite the other Be it the army or judiciary and above all Parliament the game of the throne has clouded the inevitable déjà vu of the 1971 dismemberment of Pakistan

What happened on May 9 to PTI chief and former PM Imran khan is not only condemnable but also another blow to the sustainability of the system Equally regrettable is the way the PTI workers and leaders damaged with abandon the already dilapidated country While the politics of agitation finds no moral support in any section of society what ensued with the violent protests has made Pakistan anything but a normal country Blaming security establishments misses the nuance here: each time, political leaders volunteer

A l m o s t 8 0 0 0 P T I w o r k e r s i n c l u d i n g w o m e n h a v e b e e n p u t b e h i n d b a r s , a m e d i a b l a c k o u t i s i n p l a c e , a n d n o h o p e o f r e l a x a t i o n i s i n s i g h t I n t h e m e a n t i m e , t h e e c o n o my i s i n a t a i l s p i n , i n s t i t u t i o n s a r e d i v i d e d , a n d p o l i t i c a l p o l a r i z a t i o n f i n d s n o b o u n d s , y e t n o o n e s e e m s t o c a r e a b o u t t h e f u t u r e o f t h i s h a p l e s s

c o u n t r y. E v e r yo n e c r i e s f o r t h e b u r n i n g o f t h e J i n n a h H o u s e , b u t t h e r e i s c o m p l e t e s i l e n c e a s Pa k i s t a n i s b u r n i n g i n h e l l . T h e o n l y w a y f o r w a r d f o r Pa k i s t a n i s i n t h e c o n s t i t u t i o n a n d r u l e o f l a w.

B a n g l a d e s h ’ s c o m m u n i t y

c l i n i c - b a s e d h e a l t h s y s t e m

It has won international appreciation

Wa r s and conflicts are increasing worldwide But Bangladesh is better than other countries it must be admitted In terms of infrastructure Bangabandhu s golden Bangladesh has progressed quite a bit overall The country has been at ease for the past decade and a half under the hands of the current Prime Minister, sheikh Hasina Wazed Living in a competitive world, the country has achieved a lot in various fields

In today s highly competitive world of complex equations spreading light in various fields is undoubtedly a matter of great pride and ecstasy The recent scene of Prime Minister sheikh Hasina gifting the World Bank with a painting of the Bengali dream of the Padma Bbridge proves that the ‘Bangla Township Light’ has spread to every corner of the world “Golden harvest has come to our house in various cases!

The world saw a new surprise as soon as the news about this came to an end! recently for the first time in the United Nations, a resolution on community-based health care was unanimously adopted The historic resolution titled ‘Community-Based Primary Health Care: a Participatory and Inclusive approach to achieving Universal Health services brought international recognition to Prime Minister sheikh Hasina s outstanding innovative leadership in establishing a community clinic-based model of primary health care in Bangladesh through public-private partnership This achievement is very unique In the said resolution the UN member states referred to Prime Minister sheikh Hasina s successful innovative initiative in establishing community clinics as The sheikh Hasina Initiative Needless to say, this recognition successfully reflects Bangladesh’s strong commitment to improving public health care and establishing equity in global health care

Notably the adoption of this resolution is an unforgettable milestone in the global effort to achieve universal health care by 2030 successful implementation of the resolution will play an important role in improving the health care of billions of people around the world by introducing community clinic-based health systems This recognition of universal health services and the United Nations Development Goals will also have far-reaching implications for international cooperation

It should be remembered that Prime Minister sheikh Hasina launched this unique community clinic-based health system in Bangladesh in 1998 with the aim of bringing all the people of Bangladesh under primary health care This project has brought a revolution by bringing the benefits of government primary healthcare to the doorsteps of people at the grassroot level across the country The Prime Minister s response to this initiative from the very beginning

was widely appreciated by all sections of the people World recognition was waiting In the end, the United Nations itself received praise

How proud this achievement is for the country

- only a patriotic Bengali can understand It has to be said this recognition in the indomitable development progress of Bangladesh under the leadership of Prime Minister sheikh Hasina will brighten the country s image in the international arena in the coming days It should be noted that currently community clinics have made a silent revolution in the health care of the country especially in the treatment of marginalized groups It has changed the overall picture of rural healthcare There has been a positive improvement in the health care of the country in the past a recent evaluation report by the World Bank also provides evidence Child mortality in Bangladesh has decreased by 29 percent The birth rate has come down to 2 3 The breastfeeding rate has increased to 55 percent The number of children receiving care from skilled health workers in the womb is now 64 percent; The rate of low-birth-weight babies has dropped to 33 percent The rate of taking care of trained health workers during delivery is 42 percent the preva-

to dance to the music of the boots knowing well that their grotesque jig can t last long In other words in their myopic vested interests, the incumbents always try to pander to the whims of the security establishment at the cost of democracy, civil liberty and human rights The powerful use them and afterwards come up with another political party and the same pattern repeats itself without a scintilla of change an elementary student of Pakistan s history will second this This original sin to cede political space to undemocratic forces began no later than the demise of the founder If Chief Justice Munir achieved infamy for causing irreparable damage to not only the institution of democratic government in Pakistan but also the judiciary itself there is much literature showing that political venom was also spewed unendingly Needless to state that PPP founder Zulfikar ali Bhutto had no qualms in shaking hands with the army to shatter not only a simple democratic process but the very country itself

Even after the departure of the Pakistani Hitler with President Gen Zia Ul Haq whose policies still haunt us no lesson was learned subsequent years witnessed the stupidity of our political elites who h a d b e e n u s e d b y t h e e s t a b l i s h m e n t a g a i n s t e a c h other Despite all the damage and disasters, finally, t h e C h a r t e r o f D e m o c r a c y i n 2 0 0 6 , g a v e b i r t h t o t h e E i g h t e e n t h a m e n d m e n t a n d o t h e r p r o d u c t i v e things because of a democratic process Parliament became a significant place for the political future of the country

With the arrival of Imran khan this progress came under the wheel With the help of the army, like others, he rose like a phoenix from the ashes and in the end the so-called hybrid regime reached full fruition in 2018 He did everything to malign politicians from all political parties except those who had joined the PTI after getting blessings from the army surprisingly the then IsPr came to Imran khan s rescue when the PTI-led government showed profound incompetence in its early months Much more like

other politicians in Pakistan such as Nawaz sharif

Imran khan mustered the courage to have his way in the appointment of the Chief of army staff which was unacceptable to the institution Predictably Imran khan was sacked via a democratic process under the duress of the spatial Creatures (the so-called khalai makhlooq) The Captain cried foul for a couple of months changing his narrative from time to time but after wasting much of this time he started accusing the establishment

Today it appears that Imran khan has parted ways with the army in a way no leader has done before Unlike his predecessors, he openly names not only the retired officers but the serving chief and others He calls intelligence officers names such as Dirty Harry madman psychopath and murderer although Imran khan doesn t have any principle except a burning ambition to get back to power he has assaulted those who come between him and the premiership

Now, the army has no options If Imran khan was eliminated, the armed forces would get a lion’s share of the blame; all the problems of Pakistan would be put on their shoulders and the credibility of the institution would fracture If the man of crisis resumes power he will treat the army much more like Turkish President recep Tayyip Erdoğan did Worse so, there are patent divisions within the rmy regarding the treatment of the PTI or Imran khan almost 8000 PTI workers including women have been put behind bars a media blackout is in place and no hope of relaxation is in sight In the meantime the economy is in a tailspin institutions are divided and political polarization finds no bounds, yet no one seems to care about the future of this hapless country Everyone cries for the burning of the Jinnah House, but there is complete silence as Pakistan is burning in hell

The only way forward for Pakistan is in the constitution and rule of law all institutions should function within their constitutional boundaries otherwise the power struggle can denude the country of decency and functionality

The writer is a freelance columnist

E d i t o r ’ s m a i l

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

Stop counting

lence of contraceptive use is 62 percent and the prevalence of measles vaccination is 86 percent Uptake of all basic vaccines by 23 months is now 84 percent as the average life expectancy of people in the country has increased with these advances there has been a massive improvement in the quality of life at the same time after independence there were several obstacles in the health sector of the country The healthcare sector in today’s Bangladesh has come a long way Bangladesh has surpassed India Pakistan Nepal and many other countries in healthcare In this regard, community clinics are playing a major role in improving overall health care in the country this claim has to be acknowledged Community Clinic is undoubtedly a big achievement for Bangladesh This service will likely spread to every corner of the world under the supervision of the United Nations and indeed that would be a greater achievement for us This innovative model of Prime Minister sheikh Hasina is likely to spread light globally and take the global health system further

The writer is a freelance columnist

T H I s is with reference to the report ‘sindhi intelligentsia demands halt to enumeration process (May 2) according to which sindhi intellectuals from all walks of life have asked the federal government to halt the digital census that is being carried out these days

The concerns voiced by intellectuals and nationalist politicians appear to be genuine First, the census is supposed to be conducted with a gap of 10 years, and there is no logical reason to hold it three years ahead of time second the decision to do away with the requirement of showing the CNIC which also mentions the place of birth of the holder has never been explained Third illegal immigrants from Bangladesh Myanmar afghanistan and other countries are being enumerated when initially they have to apply for acquiring nationality Why? The ruling party in sindh has a history of running with the hare and hunting with the hound It needs the feudals in its pocket because they are the ones who would help the party in the next elections whenever they are held DR MEHTAB

ALI SHAH JAMSHORO

A wise gesture

Pa k I s Ta N has had a tumultuous history with its religious minorities with several instances of discrimination and persecution being reported regularly However, a recent development has given hope for a brighter future, as the National Curriculum Council (NCC) has issued no-objection certificates (NOCs) for publishing religious books for students of various minority groups enrolled in educational institutions that are supervised by the federal government

This is a major development in Pakistan s history as it marks a significant step towards inclusivity and tolerance for all religious communities The move will enable minority students to have access to books that are aligned with their religious beliefs, and help foster a sense of belonging and respect for diversity Pakistan has a diverse population, with a majority of Muslims and significant presence of Hindus Christians sikhs and other minorities However these minority communities have often faced discrimination and marginalisation in various aspects of their lives including education The move by the NCC is a positive step towards addressing these issues and promoting equality for all

The issuance of NOCs for publishing religious books for minority students is in line with the Constitution, which guarantees freedom of religion to all its citizens However, the implementation of this provision has often been lacking with minority communities facing barriers in accessing education and other opportunities The NCC s decision is a positive move towards ensuring that all students have access to education that is inclusive and respectful of their religious beliefs This will help minority students feel more accepted and valued in the education system, and promote a culture of tolerance and respect for diversity

It is also important to note that this development comes at a time when Pakistan is facing significant challenges in terms of religious extremism and intolerance In recent years there have been instances of violence and discrimination against religious minorities which have been widely condemned by the international community The NCC s decision is a clear message that Pakistan is committed to promoting inclusivity and diversity, and that it recognises the importance of respecting the rights of all its citizens, regardless of their religion It is hoped that this move will help create a more harmonious and tolerant society where all individuals feel respected and valued The NCC’s decision to issue NOCs for publishing religious books for minority students is a major development in Pakistan s history and a positive step towards promoting inclusivity and tolerance for all religious communities It is hoped that this move will be followed by further initiatives aimed at promoting equality and respect for diversity in the country and all segments of society

PARDEEP KUMAR MAHARAJ HYDERABAD

ÂCommunity ClinicÊ is undoubtedly a big achievement for Bangladesh This service will liklely spread to every corner of the world under the supervision of the United Nations

N a k b a D e n i a l

or that they had used their forces to terrorize and evict civilians from their homes and when all else failed, they countered that the arabs fled because their leaders ordered them to, so as to clear the path for the “invading arab armies” coming to defeat Israel Denied lied and then obfuscated

In 1971 I experienced my first immersion into the Nakba reality I traveled to Lebanon and Jordan on a university grant to collect the stories of Palestinian refugees

tinian efforts to remember the Nakba in Washington and at the United Nations In Washington, representative rashida Tlaib, the only Palestinian-american member of Congress, planned to host a Nakba commemorative event on May 10th and secured the Capitol Visitors’ Center as a venue

The program was to feature Palestinians who lived through the Nakba as well as Palestinian historians to tell the broader story of the expulsions of 1948

IT is deeply troubling to see the lengths to which Israel and its hardline supporters will go to snuff out any recognition of Palestinian humanity In their acceptable narrative of events, both historical and current, only Israelis are vulnerable or victims; only they experience fear and the pain of loss; and only they have rights that must be acknowledged by all Critics who question this “acceptable narrative” are silenced and/or demonized and when Israel is the culprit that has victimized or violated the rights of Palestinians their approach has been to deny lie and obfuscate what actually occurred: The incident didn t happen If it did happen, we weren t responsible “Maybe it did happen, maybe it didn’t, but we didn’t do it and blaming us is a ‘blood libel ’”

This has been Israel’s modus operandi from the beginning the classic example being its role in the nightmarish events that resulted in the Nakba the planned and forced expulsion of Palestinians from their homes in 1948

The first thing to know about the Nakba is that it d i d h a p p e n T h e r e a r e c o n t e m p o r a n e o u s e y e w i t n e s s a c c o u n t s f r o m P a l e s t i n i a n v i c t i m s a n d I s r a e l i m i l itary and political archives contain detailed reports by t h o s e w h o d e s i g n e d a n d e x e c u t e d t h e p l a n a s Yi g a l allon (who later served as Israel s Foreign Minister) noted, to clean the upper Galilee and create territorial Jewish continuity

To accomplish this goal, the archives show how Israeli forces used a combination of forced expulsions and the killings of civilians to terrorize others into leaving In the end 700 000 Palestinians were uprooted Israel s first prime minister David Ben-Gurion celebrated the expulsions referring to the outcome as a double miracle a state that was larger and more Jewish Chaim Weizmann, Israel’s first president, similarly praised the result of the Nakba as a “miraculous cleaning of the land ”

While Israelis were celebrating their state having been cleansed of most of its arabs they also confronted the challenge of cleaning up the story of what actually happened The testimonies of Palestinian victims were ignored and the investigations by the red Cross and other international agencies who had been operating in Palestine were dismissed as biased and anti-Jewish

The Israelis denied that any massacres had happened

Washington Watch d r J a m e S J z o g b y How w i l l A I c h a n g e m e d i c i n e ?

It was only 23 years after the expulsions and many of those whom I interviewed had vivid memories of the horrors they experienced They were personal, detailed, and compelling shortly thereafter I had my first experience of Nakba denial On my return to the Usa I wrote a series of three articles on what I had learned in the camps calling the series Three Days in Palestine a dean at my university wrote a letter to the paper s editor, using bizarrely excessive language, denouncing my work as an example of “neo-Nazi neo-Bolshevik antisemitism ” and when I was invited to speak about the articles some in the audience responded with violent rejection

One of the representatives of the group that had invited me explained the hostile reaction, saying, They are in denial, having been conditioned to see Palestinians as objects and not human By making them see Palestinians as real people you threatened that denial that protects them from acknowledging Israeli culpability ”

This same dynamic of denial is still at work today

It was in evidence in recent weeks in response to Pales-

a major american Jewish organization wrote to the speaker of the House of representatives forcefully objecting to the event, warning that it could devolve into “hateful anti-Israel and even antisemitic” rhetoric

s p e a k e r M c C a r t h y r e s p o n d e d b y n o t i n g t h a t t h e event almost feels like antisemitism and pledged that I will never allow it to happen in this body since his office has the final say on the use of congressional facilities, he withdrew permission for the venue, forcing t h e N a k b a e v e n t o rg a n i z e r s t o s e e k a n o t h e r s p a c e

They found an alternative location in a senate office building only to face yet another forced removal The event finally took place in a room controlled by senator Bernie sanders McCarthy then used the venue from which the Palestinians had been evicted to host an Israel Independence celebration apparently missing the irony in all of this To make it even more bizarre while McCarthy’s “celebration” was billed as a “bipartisan” event no Democratic elected officials were invited In November 2022 after the UN General assembly

overwhelmingly passed a resolution commemorating the Nakba the Palestinians began plans to host a Nakba commemoration at the UN headquarters In response the Israeli delegation called for a boycott and worked overtime to pressure member-states to avoid participation In a letter to the other national delegations the Israeli ambassador used every insulting and defamatory word he could find to denounce not only the event but also the very idea that the expulsions had occurred He called the Nakba a “distortion of history” and a “horrifying falsification that fed into Jew-hatred and antisemitism The planned UN event was called shameful an abomination appalling and repulsive and despicable I s r a e l s a n d i t s s u p p o r t e r s u s e o f e x t r e m e l a nguage, to silence critics and deny Palestinians the opportunity to tell their stories, is born of both the need to deny an uncomfortable reality and their desperation that they are losing the battle of narratives a sign of their growing panic is the insistence that criticism of Israel is tantamount to antisemitism suggesting that those who do so are singling Israel out for criticism and, therefore, antisemites What, in fact, these Israeli apologists are doing is insisting that Israel is the one c o u n t r y t h a t c a n ’t b e c r i t i c i z e d a n d , i n t h e p r o c e s s , d e n y i n g P a l e s t i n i a n s t h e r i g h t t o t e l l t h e i r s t o r y a n d have their humanity recognized That is racism and it is what is at the root of Nakba denial

The writer is President of the Arab American Institute

IsraelÊs and its suppor tersÊ use of extreme languag e , to silence critics and deny Palestinians the oppor tunity to tell their stories, is born of both the need to deny an uncomfor table reality and their desperation that they are losing the battle of narratives.

A sign of their growing panic is the insistence that criticism of Israel is tantamount to antisemitism, sugg esting that those who do so are „singling Israel out for criticism‰ and, therefore , antisemites

White House officials have made a flurr y of statements about U S -China relations

CITY JOURNAL W i l ly C h e r T m a n

DO C T O r s h a v e b e e n u n d e r s t a n d a b l y skeptical of claims that artificial intellig e n c e w i l l t r a n s f o r m m e d i c i n e r e c a l l t h e m i s l e a d i n g c l a i m s t h a t r a d i o l o g i s t s might soon be obsolete, years of annoying automated pop ups in electronic health records, and the deployment of IBM’s near-useless Watson But the development of new large-language mode l s m a y a c t u a l l y l i v e u p t o t h e h y p e G P T- 4 t h e latest largest and most capable such model developed by OpenaI aces many aP exams and passes v a r i o u s p r o f e s s i o n a l c e r t i f i c a t i o n e x a m s e v e n tests for sommeliers without having been trained for any of them In medicine, on a series of exams that aspiring p h y s i c i a n s m u s t p a s s t o o b t a i n a m e d i c a l l i c e n s e GPT-4 comfortably passes with an 83 percent corr e c t s c o r e ( a m i n i m u m p a s s i n g s c o r e i s a b o u t e q u a l t o 6 0 p e r c e n t ) I t a l s o a c h i e v e s i m p r e s s i v e r e s u l t s o n a b o a r d r e s o u r c e d e s i g n e d t o p r e p a r e p h y s i c i a n s f o r t h e a m e r i c a n B o a r d o f I n t e r n a l M e d i c i n e e x a m C o m p a r e d w i t h p h y s i c i a n a ns w e r s t o 1 9 5 p a t i e n t q u e s t i o n s , G P T- 4 ’s a n s w e r s w e r e r a t e d m o r e h i g h l y o n e m p a t h y b y a t e a m o f b l i n d e d h e a l t h - c a r e p r o f e s s i o n a l s t h o u g h a c c ur a c y w a s n t a s s e s s e d

No state has yet granted GPT-4 a license to practice medicine independently, but the tool seems poised to change the practice of medicine in many ways Given this particular model’s tendency to “hallucinate” incorrect information however as well as its out-of-date knowledge and the caution issued by its maker a human doctor would probably have to supervise its use: call it a doctor-in-theloop still, GPT-4 is poised to streamline medicine

Providing the tool with sufficient context, explicit and detailed instructions (or “prompts”), and, eventually, some degree of Internet access will likely improve its performance relative to the already-impressive baseline

s a g e s a u t o m a t e d r e s p o n s e d r a f t i n g a l o n g w i t h helpful summaries will be a welcome addition a p i l o t p r o j e c t i s a l r e a d y u n d e r w a y a t a n u m b e r o f h e a l t h - c a r e i n s t i t u t i o n s a h y p o t h e t i c a l d i g i t a l s c r i b e , m e a n t i m e , w o u l d c o m b i n e s p e e c h - t r a ns c r i p t i o n t e c h n o l o g y w i t h G P T- 4 t o l i s t e n t o p atient-physician visits and automate note generation; the notes could then be automatically examined for p o s s i b l e b i l l i n g c o d e s y i e l d i n g o p t i m a l r e v e n u e generation a boon for physicians though not one l i k e l y t o b e w e l c o m e d b y p a y e r s l i k e i n s u r a n c e companies and Medicare F o r p a t i e n t s w h o s t r u g g l e t o u n d e r s t a n d c o mp l i c a t e d t e r m i n o l o g y o r l a c k E n g l i s h p r o f i c i e n c y, t h e a b i l i t y t o t r a n s l a t e m e d i c a l n o t e s i n t o d ig e s t i b l e f o r m a t s i n a v a r i e t y o f l a n g u a g e s w i l l b e h e l p f u l I n t i m e p a t i e n t s a n d d o c t o r s m i g h t b e a b l e t o a s k t h e i r m e d i c a l r e c o r d s q u e s t i o n s a n d g e t b a c k c o n t e x t u a l i z e d a n s w e r s a s t h e f i n a n c i a lt e c h n o l o g y c o m p a n y s t r i p e i s d o i n g w i t h i t s d ev e l o p e r d o c u m e n t a t i o n some uncertainties remain What effect will reducing some health-care transaction costs have on overall system costs? as policy analyst samuel Hammond writes in a recent blog post Forecasting the near-term impact of aI thus requires a theory of which transaction costs will fall and what other transaction costs will rise One mechanism to constrain costs in health care has been “utilization management”: protecting the supply of expensive medications surgeries and tests by hiding them behind byzantine insurance-company paperwork especially for Medicare advantage insurance plans seen this way, high transaction costs can be a plus from a system perspective: patients who truly need expensive treatments can eventually get them, but cheaper alternatives will be trialled first, keeping costs down overall But in practice this can be an immensely frustrating ordeal Occasional horror stories emerge of much-needed treatment getting denied resulting in delays W h a t h a p p e n s w h e n t h e c o s t o f w r i t i n g p e rfectly formatted prior authorizations and appealing a n y s u b s e q u e n t i n s u r a n c e d e n i a l s f a l l s t o a l m o s t zero? The first-order effects are likely to be costsaving staff time dedicated to insurance-mandated paperwork will decrease substantially freeing up time for other work and improving patient experience But guessing at the second-order effects req u i r e s s o m e c o n t e x t a b o u t 9 4 p e r c e n t o f p r i o r a u t h o r i z a t i o n s s u b m i t t e d a r e a p p r o v e d O f t h o s e that get denied, only 11 percent are subsequently appealed and of those about 80 percent result in p a r t i a l o r f u l l a u t h o r i z a t i o n T h e n e t i m p a c t w i l l probably be a modest rise in the share of prior authorizations approved on the initial go-around and a large increase in the number that are subsequently appealed and authorized Insurance companies may u s e s y s t e m s l i k e G P T- 4 t o a u d i t p r i o r a u t h o r i z ations too instead of the crude automated systems that some use now aI s capabilities will only improve GPT-4 performs well even before any task-specific training or real-time access to extant medical databases or various professional guidelines as new business models and regulation develop with GPT-4 and its successors in mind, much larger changes in health care are possible

O

NATIONAL INTEREST J T e d f o r d a n d T y l e r K e da r Pa n dya

Both Yellen and sullivan are misguided about China s views on economic and security policy For China, economic issues are security issues Chinese president Xi Jinping stated in 2014 that economic security is the “foundation” of his “comprehensive security concept ” For Xi military power protects economic development and economic growth is critical to national security since 2014 Xi has only hardened his position remarking at the Two sessions in March 2023 that security is the foundation of development In this, Xi is borrowing from Deng Xiaoping, the architect of the “reform and Opening-Up Era ” From the late 1970s onward Deng pursued economic modernization which used market incentives to support the Four Modernizations of agriculture defense industry and science and technology China s economy responded by averaging double-digit growth between 1980–2010

In the early days Xi s presidency, concepts such as “strategic emerging industries” and “Made in China 2025” were announced They signaled an inward turn in economic policy concerning Washington Chief among these concerns was intellectual property theft and the potential for advanced technology to fall into the hands of the Chinese military

U s policy responded by seeking to blunt the rollout of China’s new economic system The Committee on Foreign Investment in the United states (CFIUs) began blocking more Chinese acquisitions of foreign technology companies For example CFIUs blocked the purchase of Magnachip a south korean semiconductor business by Wise road Capital a Chinese company Capital controls combined with the reformulation of U s export controls under the Export Control reform act of 2018 signaled an increased focus on U s economic security

The White House also continued the trade war started by President Donald Trump It maintained those tariffs and passed the CHIPs and science act of 2022 a $50 billion dollar investment in U s semiconductor manufacturing that aims to revitalize a perceived dwindling lead in the sector

The Biden administration wants to reduce economic tensions with China and fix underlying problems But as reported by Politico Biden officials may have competing ideas To make matters worse the Chinese are not returning U s phone calls though katherine Tai the U s trade representative is reportedly meeting with the Chinese commerce minister later this month Hopefully, this meeting will be the prelude to higher-level, follow-on meetings

But making macro-level improvements in U s -China relations begins with reframing the problem It should be recognized that economics and security are intertwined For

N april 20, Treasury secretary Janet Yellen delivered some notable remarks at Johns Hopkins University In discussing sanctions on Chinese companies Yellen noted that “our goal is not to use these tools to gain competitive economic advantage she tried to emphasize that a U s -China decoupling was not on the horizon a week later on april 27, National security advisor Jake sullivan spoke at the Brookings Institution, where he echoed Yellen by saying that the Biden administration is “looking to manage competition responsibly and seeking to work together with China where we can ” But sullivan also criticized China’s overuse of industrial policy and indicated that U s policymakers would respond in kindgreat powers, economics is a foundational element of national power, allowing for the build-up of military capabilities But it also serves more fundamental security concerns China faces major demographic changes and a slowing (but still steady) rate of economic growth as Beijing grapples with these challenges technological development is viewed as the sustaining driver of long-term economic prosperity This makes science and technology imperative to China’s advanced development path, meaning that any policy that attempts to stall or cut-off China’s technological growth is going to make diplomacy especially challenging Beijing does not see U s economic countermeasures as narrow and limited; it perceives its national interests as being infringed upon In an anarchical, self-help world, Beijing has no incentive to believe that coercive american economic statecraft will cease This causes them to engage in an “action and retaliation” cycle responding with coercive measures of their own so what can the United states do? First U s policy towards China needs more coordination between the security and economic portfolios Planning and high-level visits should include officials from both areas

To represent the economic portfolio, we recommend Commerce secretary Gina raimondo, who views technology and economics as deeply connected raimondo also sees the connection between international trade and the U s domestic economy stating that we need to continue to do business with China and trade with China supports american jobs additionally, it is evident from the battery of laws passed in the last year that the Commerce Department will lead the United states in organizing and executing its own science and technology policies and executing U s responses to China’s policies as such the Department s secretary is the natural lead on a new approach second, more bilateral meetings need to be set up Trust can be built with lower-level bureaucrats who can elevate communications to higher levels In terms of location, a third-party country would allow both Washington and Beijing to maintain some of their pride Previous meetings at Bali and Geneva indicate the value of a thirdcountry meeting point as does the Vienna meeting between sullivan and Wang Yi director of the Central Foreign affairs Commission

Lastly, the United states should take more meaningful actions, rather than just verbalize reassurances to China

The ambiguity of state-business relations in China and whether the end-user of technology is a military or commercial one is Washington s real concern But too often national security is a blanket term a better route would be to explicitly state the conditions that make something a real national security threat

In terms of the Commerce Department’s Entity List, clear rules should be established for being removed Clarifying that transparency on the part of Chinese firms and state organs would go a long way in developing guardrails in a spiraling economic relationship sullivan s speech rightly emphasized making the economically competitive domain a place of small yards, high fences But this is more of a philosophy than a specific policy a better policy would view economics and security together paving the way for real progress in U sChina relations

J Tedford Tyler is a Foreign Policy Associate at the Charles Koch Foundation Kedar Pandya is a Research Assistant at the Texas A&M University Economic Statecraft Program

BEIJING s ta f f c o r r e s p o n d e n t

VISITING Russian Prime Minister Mikhail Mishustin attended a high level business forum in Shanghai on Tuesday and expected that bilateral trade between China and Russia could hit the $200 billion goal by this year and cooperation will expand beyond traditional areas

Chinese experts called this visit a routine visit” whose purpose is to upgrade cooperation that will boost both countries’ new development demands especially as the USled small clique ramps up effort to encircle China s and Russia s growth The visit s aim isn t to ask for China s help as some media have been hyping, the experts added China and Russia moving closer on economic cooperation should not be associated with the ongoing Ukraine crisis nor should be seen as China skewing toward certain party Chinese observers said calling such interpretation as narrow-mindedness They noted that China has the right to choose who to work with, as long as the collaboration does not violate international norms; and such choice won’t be disturbed by noise from any third party

Mishustin landed late on Monday in Shanghai where he was greeted at the airport by Moscow s ambassador to China Igor Morgulov and Chinese Ambassador to Russia Zhang Hanhui, Reuters reported Mishustin will pay an official visit to China from May 23 to 24

Chinese Premier Li Qiang sent a congratulations letter on the China-Russia business forum on Tuesday in which Li said the forum acts as an important step to implement consensus of leaders of the two countries, and that China is willing to expand trade cooperation with Russia as well as promote the volume quality of the bilateral coopera-

tion Li stressed that China is ready to strengthen mutually beneficial cooperation with countries around the world including Russia to develop an open world economy and high-quality cooperation under the Belt and Road Initiative to inject more certainty and impetus into the global economy

According to media reports, the Russian Prime Minister was also scheduled to visit a petrochemical research institute in Shanghai as well as hold talks with representatives of Russian business circles CLOSER ECONOMIC COOPERATION

Chinese experts see this as a routine visit” as Chinese and Russian high-level officials maintain frequent exchanges on trade Mishustin’s visit mainly seeks to implement the cooperation blueprint chartered by both leaders during their meeting in March

During the Forum Mishustin said he expects the bilateral trade to hit $200 billion this year, Sputnik News reported In 2022, two-way trade between China and Russia hit a record high of $190 27 billion

China-Russia trade was up 38 7 percent in the first quarter and energy cooperation continues to be a major stabilizer for bilateral ties, according to data from General Administration of Customs

On the one hand, under the sanctions of the West, Russia has accelerated the pace of economic transformation to the east On the other hand the vast market and the quick economic rebound of China also make it lucrative for the world and Russia is no exception, Li Xin, director of the Center for Russian and Central Asia Studies at the Shanghai Institutes for International Studies, told the Global Times on Tuesday

“The growth target is well within reach if the two countries keep the trade momentum since the beginning of 2023 Li noted

During the forum, Mishustin named a wide range of area for further cooperation, from energy to agriculture, finance and in-

Treasur y confirms US default as early as June 1 without debt ceiling hike

PR

The U S Treasury Department reiterated Monday it expects to be able to pay the U S government’s bills only through June 1 without a debt limit increase leaving just 10 days for White House negotiators and congressional Republicans to reach a deal In her third letter to Congress in three weeks Treasury Secretary Janet Yellen said it was highly likely that the agency will be unlikely to meet all U S government payment obligations by early June, and as early as June 1 without congressional action to raise the $31 4 trillion debt ceiling which would trigger the first-ever U S default With an additional week of information now available I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government s obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1 ” she said Yellen said the estimates in line with her last letter to Congress on May 15 were based on currently available data but federal receipts outlays and debt could still vary She said she would update Congress as more information became available U S President Joe Biden, who cut short his trip to Asia to negotiate a debt ceiling deal, will meet with Republican speaker of the House Kevin McCarthy at 5:30 p m after their aides met for more than two hours on Monday McCarthy told reporters that the talks were on the right path ahead of the meeting Yellen has repeatedly warned that failure by Congress to raise the federal borrowing limit would unleash an “economic and financial catastrophe” for the U S and global economies She said Treaury’s borrowing costs had already increased and urged Congress to act as soon as possible to avert the negative consequences that could come even before a default We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers and negatively impact the credit rating of the United States ”she wrote

dustry cooperation, where he seeks to expand cooperation with China, according to Russia’s Sputnik News Mishustin noted that energy cooperation with China remains an unconditional priority for Russia and the supply of natural gas and coal has steadily increased Beyond traditional energy, Russia is also preparing new projects with China in the renewable energy sector Mishustin said “As China’s economy recovers there would be much demand for energy consumption On the other it is an urgent task for Russia to expand the Chinese energy market, replacing parts of the European energy market, Li said Mishustin also noted that Russia and China need to be more active in streamlining mutual access to agricultural markets and working together to strengthen food security

The Russian Prime Minister stressed that bilateral trade in agricultural products is developing at a faster pace

Last year, trade in agricultural products increased by 42 percent to more than $7 billion The cooperation on agriculture is a relatively new sector and is of great

PR OFIT

r e u t e r s

International securities watchdog

IOSCO unveiled on Tuesday the first global approach to regulating cryptoasset and digital markets drawing on lessons from last year s collapse of the FTX exchange that fuelled concerns over consumer protection

The industry, which typically only has to comply with anti-money laundering checks has been calling for a global approach to regulation as different jurisdictions follow their own rules

The moves come after crypto exchange FTX began U S bankruptcy proceedings last November following a liquidity crisis

It prompted intervention from regu-

significance for Russia to expand more markets from European market and China also needs diversification of its agricultural imports Li said Russian soybeans for example are expected to replace some of the US exports to China Li said In terms of financial cooperation, Mishustin said that the two countries will increase the bilateral financial cooperation through local currency settlement to strengthen economic sovereignty

He noted that bilateral local currency settlement climbed to nearly two thirds of the total settlement in 2022, up from around 25 percent 2021 Local currency settlement can avoid the risks of the dollar hegemony and promote the internationalization of the yuan Li said In terms of industrial cooperation

Mishustin said that shipbuilding civilian drone production and the timber industrial complex are promising areas for cooperation between Russia and China

DEFYING NARROW-MINDED

INTERPRETATION A t C h i n e s e M i n i s t r y o f F o r e i g n A f -

lators worldwide who said rules were needed for crypto conglomerates such as FTX that combine many activities under one roof with few safeguards for customer assets, to stop conflicts of interest Tuesday’s plans represent a turningpoint in tackling risks from cryptoassets such as bitcoin and ether said Jean-Paul Servais who chairs the International Organization of Securities Commissions (IOSCO)

“Crypto business has been allowed to grow on a flawed basis and it has to be corrected ” Servais told a press conference The proposed standards cover dealing with conflicts of interest market manipulation, cross-border regulatory cooperation, custody of cryptoassets,

operational risks and treatment of retail

customers Recent global events have shown us why we need this work This is about making sure crypto is safe for the market, said Matthew Long, director of digital assets at Britain’s Financial Conduct Authority

Haydn Jones global lead of blockchain and crypto solutions at Kroll said frameworks such as those of IOSCO stop criminal activity and allow everyone to benefit from the technology underlying crypto The 18 measures planned apply long-established safeguards from mainstream markets to eliminate conflicts of interest between the different parts of a crypto transaction The watchdog aims to finalise standards by year end, and expects its 130

f a i r s Tu e s d a y b r i e f i n g , a q u e s t i o n w a s r a i s e d a s w h e t h e r c l o s e c o o p e r a t i o n b etween China and Russia will trigger conc e r n s a n d d i s s a t i s f a c t i o n f r o m c e r t a i n We s t e r n c o u n t r i e s w h o m i g h t e v e n c o nsider imposing sanctions on some business trading with Russia

In response, Mao Ning, spokesperson of Chinese Foreign Ministry, said China has been conducting normal economic and trade cooperation with other countries in the world including Russia on the basis of equality and win-win result

We oppose unilateral sanctions and longarm jurisdiction that have no basis in international law or mandate from the UN Security Council, Mao said, reiterating that China-Russia cooperation does not target any third party and is not subject to disruption or coercion by any third party China will take all measures necessary to protect the legitimate and lawful rights and interests of Chinese companies, Mao said Other media reports associated Mishustin’s visit with the ongoing Russia-Ukraine conflict saying the visit is a sign that the two nations seek to further strengthen ties despite the crisis; and that the visit demonstrated Moscow s growing economic dependency on China

D e f y i n g t h o s e r e p o r t s Z h a n g H o n g a n a s s o c i a t e r e s e a r c h f e l l o w a t t h e I n s t it u t e o f R u s s i a n E a s t e r n E u r o p e a n a n d C e n t r a l A s i a n S t u d i e s o f t h e C h i n e s e Academy of Social Sciences sees deepeni n g C h i n a - R u s s i a e c o n o m i c c o o p e r a t i o n as rather an inevitable choice to cope with each other s needs Russia s turn to east p r o p e l s i t t o e x p a n d C h i n e s e m a r k e t , w h i l s t C h i n a s s t r o n g e c o n o m i c r e c o v e r y m a k e s t h e c o u n t r y n e e d m o r e e n e rg y a n d r a w m a t e r i a l

Western media has long been hyping Russian economic asphyxiation, yet such statement has serious underestimated Russian economy’s resilience, said Zhang While delivering the government’s annual report to the State Duma in March this year Mishustin said the Russian economy withstood Western sanctions in 2022 and is now back on a growth trajectory; and that some international organizations predicted that the Russian economy will see positive dynamics in 2023

members worldwide to use them to plug gaps in their rulebooks so eliminating fragmented regulation and the ability of firms to play off regulators against each other IOSCO, an umbrella group of regulators such as the U S Securities and Exchange Commission Japan’s Financial Services Agency Britain’s Financial Conduct Authority and Germany s BaFin is canvassing public opinion on the regulations

The step follows the European Union’s finalisation this month of the world’s first set of comprehensive rules, piling pressure on Britain the United States and other countries to come up with their own norms

Later in the summer IOSCO will issue recommendations to regulate decentralised finance

X i stresses unique role of auditing in Par ty ’s self-reform

ISLAMABAD s ta f f r e p o r t

Xi Jinping general secretary of the Communist Party of China (CPC) Central Committee on Tuesday stressed the unique role of auditing in promoting the Party s selfreform and called for enhancing the high-quality development of auditing work in the new era

Xi, also Chinese president and chairman of the Central Military Commission, made the remarks while presiding over the first meeting of the central auditing commission in the Chinese capital Beijing under the 20th CPC Central Committee He is head of the commission

At the meeting Xi urged efforts to strengthen strategic planning and top-level design in the field of auditing

and serve the Party and the country with effective audit supervision services

The meeting was attended by Chinese Premier Li Qiang and Secretary of the CPC Central Commission for Discipline Inspection Li Xi, both members of the Standing Committee of the Political Bureau of the CPC Central Committee and deputy heads of the central auditing commission

The meeting stressed that since the CPC s 19th National Congress the central auditing commission has promoted the systematic and holistic reconstruction of the audit system and embarked on a new path of audit in line with China’s national conditions

The audit work has made historic achievements and undergone historic changes it noted

In order to do a good job in auditing on the new

Awareness aler t regarding use of internet

NEWS DESK fa r h a n Q u ta b s i d d i Q u i

The internet has become an integral part of our lives, especially for youngsters In today’s digital era, the internet provides a wealth of information and entertainment and it has made communication easier than ever before

Perhaps most importantly the internet has opened up a whole new world of information Since it is a vast and democratized library of information, it provides the youth access to various educational resources such as e-books research papers and online courses Young people can learn new skills and knowledge and stay up-to-date on current events and trends This is especially important for students who may not have access to these resources in their schools or local communities

But unfortunately the younger people are not reaping the benefits of this great technology to their benefit Instead they are misusing the internet by wasting time on useless and time consuming apps The young minds are being shaped and influenced in a harmful manner by the continuous unchecked exposure to everything negative on the internet

There are a lot of influencers online which have millions of followers on the popular social media apps and they are

not guiding the younger generation in the right manner Instead the younger generation has started on a venture that will not be proving as beneficial in the long run Internet is not just online gambling and gaming There are a lot of healthy activities that younger lot can engage themselves into

For example the internet has made communication easier than ever before Social media and messaging apps have revolutionized the way we communicate with each other People of all age groups can connect with friends and family

members who live far away and they can make new friends from all around the world This has helped to break down cultural barriers and promote understanding and tolerance

In addition to this, the internet has provided new opportunities for creative expression Young adults can use various platforms to showcase their talents and creativity such as YouTube TikTok and Instagram They can share their thoughts, ideas, and work with other like-minded individuals, and even monetize the fruit of their labour

Speaking of economic opportunity, the internet has revolutionized the way we do business offering new and massive economic opportunities that were never before possible From e-commerce and online marketplaces to digital advertising and social media marketing, the internet has opened up a whole new world of possibilities for entrepreneurs and businesses of all sizes The rise of freelancing and remote work has also been made possible by it a l l o w i n g i n d i v i d u a l s t o t a p i n t o a global talent pool and work from anyw h e r e i n t h e w o r l d F u r t h e r m o r e , t h e internet has made it easier to access inf o r m a t i o n a n d e d u c a t i o n p r o v i d i n g p e o p l e w i t h t h e t o o l s a n d k n o w l e d g e they need to start and grow their own b u s i n e s s e s O v e r a l l t h e i n t e r n e t h a s created a more level playing field, giving everyone the chance to succeed in the global economy

It is therefore the need of the hour that parents together with schools and teachers should work together to inculcate positive habits in their children to enable them to use the internet effectively as a means of learning, communication, and artistic expression After all, it is a tool – an extremely powerful one, and the result of using that tool depends entirely on the capability and intentions of the one wielding it

journey in the new era the general requirement is to focus on building a centralized unified comprehensive authoritative and efficient audit oversight system and giving full play to the role of audit oversight

It stressed that monitoring the implementation of major projects, major strategies and major moves should be strengthened

E ff o r t s s h o u l d a l s o b e m a d e t o k e e p a c l o s e e y e o n c r u c i a l a r e a s s u c h a s l o c a l g o v e r n m e n t d e b t f in a n c e r e a l e s t a t e g r a i n a n d e n e rg y s a f e g u a r d t h e b o t t o m l i n e o f n o s y s t e m i c r i s k s , a n d g i v e f u l l p l a y to the role of auditing in the fight against corruption, t h e m e e t i n g s a i d

The meeting also noted that the auditing results should be used as a vital reference for officials assessment appointment removal reward and punishment

TikTok sues Montana after state bans app

US ag e n c e s

TikTok Inc on Monday filed a lawsuit challenging the state of Montana s new ban on its app the first state to bar the popular short-video sharing service TikTok argues the ban, which would take effect on January 1 next year, violates First Amendment rights of the company and users The lawsuit, filed in U S District Court in Montana, also argues the ban is preempted by federal law because it intrudes upon matters of exclusive federal concern and violates the Commerce Clause of the U S Constitution which limits the authority of States to enact legislation that unduly burdens interstate and foreign commerce Montana could impose fines of $10,000 for each violation by TikTok and additional fines of $10,000 per day if it violates the ban The law does not impose penalties on individual TikTok users It is not clear how Montana would enforce a TikTok ban Senate Intelligence Committee Chair Mark Warner said the likelihood of federal courts overturning Montana s ban made it even more essential for Congress to pass the legislation he introduced to give the president new powers to ban or impose restrictions on TikTok and other foreign-owned apps TikTok estimates it has hundreds of thousands of active users in the state which has a total of about 1 1 million residents The company says in its lawsuit that it has not shared and would not share, U S user data with the Chinese government, and has taken substantial measures to protect the privacy and security of TikTok users ” Last week five TikTok users in Montana filed a lawsuit in federal court seeking to block the state s ban

Watchdog proposes first set of global rules for crypto sector

Sanjrani, britain HC Hold diSCuSSion on StrengtHening Pak-uk rel ationS

ISLAMABAD S TA F F R E P O R T

CH A I R M A N Senate, Muhammad Sadiq Sanjrani was called on by UK Acting High Commissioner at Parliament House on Tuesday and meeting focused on political relations post-flood recovery efforts, trade and investment, parliamentary cooperation, and peopleto-people contacts

During the meeting, the Chairman Senate highlighted the historic partnership between Pakistan and the UK emphasizing the upgraded Enhanced Strategic Partnership (ESP) and collaboration in sustainability, health, education, and technology

Appreciation was expressed for the UK's support in post-flood recovery and its role as Pakistan's largest trade and in-

LAHORE

S TA F F R E P O R T

Governor Punjab Muhammad Baligh ur Rehman has said that the government is development and stability in the country despite the economic challenges

He was talking to former deputy speaker Punjab Assembly

Sardar

Dost Muhammad Mazari who called on him at Governor House Lahore on Tuesday

Speaking on the occasion, Muhammad Balighur Rahman said that the incident of May 9 is a very sad and dark chapter in the history of the country He said that attacks on institutions military installation

SCB, Mastercard sign strategic partnership to accelerate payment innovation

to expand the Bank’s existing offerings and fuel the growth of the digital payment landscape across the country Building on a long-standing partnership Mastercard has once again become the

in

around the world discounted car rental and chauffeur services, complimentary nights at select hotels and resorts, as well as access to premium airline services Saadya Riaz, Head CPBB, Standard Chartered Pakistan said, “Our partnership with Mastercard reflects our commitment to offering our customers - best in class products and solutions with value-added benefits and a differentiated digital-first client experience P R

Pakistan Cables pledges suppor t for Aga K han

Cultural S er vice heritage conser vation effor ts

Pakistan Cables pledged to support the Aga Khan Cultural Service – Pakistan s upcoming project on conservation of historical sites in Pakistan As part of the project, internship opportunities are being offered by AKCSP to young graduates and students from the related fields of architecture traditional engineering and construction techniques material sciences etc The students will be provided onsite and hand-on learning opportunities at the UNESCO World Heritage Site of Lahore Fort and the Walled City of Lahore, where AKCS-P is currently working to restore Mughal era Wazir Khan Mosque P R

vestment partner in Europe The inclusion of Pakistan in the UK's Developing Countries Trading Scheme (DCTS) was commended and the potential for a Free

and disrespect of the martyrs' memorials by the miscreants was an intolerable act He said that the ranks of martyrs are very high in Islam and respect of martyrs is obligatory on each of us Governor Punjab said that the government is committed to development and stability in the country despite the economic challenges He said that in the past tenure of Pakistan Muslim League-Nawaz (PML-N) exemplary measures were taken in the field of education and health and special attention was paid to the development of South Punjab He said that due to the farmer-friendly policies of the present government the average

Trade Agreement (FTA) was discussed

The importance of parliamentary cooperation and people-to-people contacts was underscored recognizing existing

yield of wheat per acre has increased this year Governor Punjab further said that the government has given relief in various sectors to the people including farmers in difficult situations

Former Deputy Speaker Punjab Assembly, Sardar Dost Muhammad Mazari, said that Muslim League (N) has always played a key role in the development of the country He said that he will play his vital role in solving the problems of the people of South Punjab He said that everyone has to play his/her role for the development of the country and the nation by keeping personal interests aside

friendship groups and productive discussions between the UK Parliamentary Friendship Group and the UK Acting High Commissioner Commitment to the UK-Pakistan Returns & Readmission Agreement and progress in the licit migration track were reiterated Collaboration opportunities were explored in trade, investment, climate change, health, technical education, and sports, with a focus on education sector cooperation and health capacity-building Sadiq Sanjrani expressed optimism for the future of Pakistan-UK relations highlighting the mutual commitment to strengthening ties Additionally Chairman Senate extended felicitations on the Coronation of His Majesty King Charles III and Her Majesty Queen Consort Camilla on 6 May expressing warm wishes for their reign and the continued prosperity of the United Kingdom

Pak Suzuki distributes lower secondary scholarships

Russian

PM arrives in

C hina for

talks with X i, business forum

SHANGHAI

A F P

Russian Prime Minister Mikhail Mishustin has arrived in China, Moscow’s foreign ministry said for a visit in which he will meet with President Xi Jinping and ink a series of deals on infrastructure and trade

Mishustin arrived late Monday in Shanghai, the ministry said, where he was greeted at the airport by Moscow’s ambassador to China Igor Morgulov and Beijing s top diplomat to Russia Zhang Hanhui

He will take part in a RussianChinese Business Forum and visit a petrochemical research institute in Shanghai, the Kremlin said, as well as hold talks with “representatives of Russian business circles

That forum has invited a number of sanctioned Russian tycoons including from the key fertiliser, steel and mining sectors as well as Deputy Prime Minister Alexander Novak who handles energy issues Bloomberg reported China last year became the top

energy customer for Russia whose gas exports had otherwise plummeted after a flurry of Western sanctions over the invasion of Ukraine Mishustin will then travel to Beijing where he will meet with Xi and Premier Li Qiang Russian state media TASS has said China and Russia have in recent years ramped up economic cooperation and diplomatic contacts, with their strategic partnership having only grown closer since the invasion of Ukraine

While China says it is a neutral

AIOU offers Russian language course

party in that war it has refused to condemn Russia for the invasion

In February Beijing released a paper calling for a political settlement to the conflict, which Western countries said could enable Russia to hold much of the territory it has seized in Ukraine

During a March summit in Moscow Xi invited President Vladimir Putin to visit Beijing Analysts say China holds the upper hand in the relationship with Russia, and that its sway is growing as Moscow’s international isolation deepens

i s l a m a b a d: Allama Iqbal Open University (AIOU) in collaboration with Ural State Pedagogical University (USPU), Russia, is offering a three-month course in 'Russian Language' Experienced trainers from Russian universities will teach this course online for the first three weeks, while the students will be taught face-toface at "Russian Language and Culture Center for Pakistan" in AIOU for the remaining two months

Admission to this course is free and the form is available on the university website (www aiou edu pk)

Students from all educational institutions including AIOU can apply Trainers from USPU will assess the language skills of students upon completion of the course to award a completion certificate This certificate will help students apply for hundreds of scholarships at the master s and PhD level in Russia PR

UN Women Protec tion Unit delegation visits S afe C ity Islamabad

i s l a m a b a d: A delegation from the United Nation Women Protection Unit visited Safe City Islamabad, where they met with CPO Safe City Shoaib Janabz, a police public relations officer said He said that, during the meeting the delegation was provided with a comprehensive briefing on the initiatives undertaken by the Islamabad capital police to ensure the safety and protection of women and children The delegation commended the efforts of the Gender Protection Unit of Islamabad capital police, acknowledging its significant role in assisting women affected by various forms of abuse PR

OGRA webinar on LNG

i s l a m a b a d: The Oil & Gas Regulatory Authority on 18th of May 2023 conducted the 1st Session of the knowledge sharing Webinar on LNG The participants included Ministry of Energy, Engro Elengy Terminal Limited, Pakistan Gasport Consortium Limited Tabeer Energy Private Limited Energas Terminal Private Limited Port Qasim Authority and Karachi Port Trust The session started with the recitation of the Holy Quran followed by the National Anthem Chairman OGRA Mr Masroor Khan gave the opening remarks highlighting the importance of LNG sector in the energy mix of Pakistan He pointed out that Pakistan energy landscape has undergone transformation in the last few years with the LNG sector emerging as a vital component of the country s energy mix The development of LNG infrastructure, including re-gasification terminals has enhanced Pakistan's energy availability and flexibility He further highlighted the challenges and opportunities associated with its adoption The following topics were covered in the presentations by the participants:History of LNG Global LNG Outlook, LNG Sector in Pakistan, Policy provisions, supply demand and market overview, FSRU and Land based LNG storage and re-gasification terminals, projects regulatory and financial challenges projects applicable codes PR

Under Education Assistance Program of CSR Pak Suzuki Motor Co distributed Lower Secondary Scholarships The ceremony held on 4th May, 2023) at Govt Boys Primary School Pipri The purpose of this scholarship program is to motivate and encourage the needy and talented Government Schools students to keep continue their education, which empower them to achieve their dreams and lead to become a successful person and dedicated citizen of country Mr Muhammad Ali Lodi-Head Operations Pak Suzuki announced 177 Scholarships for successful students of grade 6 to 9 which is consisted of School bag Copies Stationery Water Bottle Lunch Box paint box wrist watches Scientific Calculator, etc PR

Pakistan values relations with EU on mutual interest: Tarar

islamabad: Federal Minister for Law and Justice Senator Azam Nazir Tarar has said that Pakistan highly valuables it bilateral relations with European Union based on mutual interest This was stated by him while talking to European Union Ambassador to Pakistan Dr Riina Kionka who called on him on Tuesday and discussed with issues of mutual interest Senator Azam Nazir Tarar praised the active and comprehensive role of the Ambassador regarding the GSP Plus status of Pakistan This status was an important milestone in economic cooperation between Pakistan and the European Union, he added The law minister reiterated the commitment to further promote bilateral relations EU Ambassador Dr Riina s gave assurance of full cooperation in the promotion of trade relations INP

S han S hares, Ismail Foundation inaugurate recreational park in L andhi

K a r a c h i: Shan Shares the corporate identity of Shan Foods committed to promoting sustainability, inaugurated a recreational park in Landhi, Karachi in partnership with Ismail Foundation, a not-forprofit organization and the CSR wing of Ismail Industries Limited that works for the development and improvement of the society The park is constructed under WASL (Water and Sanitation Logistics), the flagship water project of the Ismail Foundation, in collaboration with Shan Shares which will also be overlooking the maintenance of the park Being an industrial municipality, air and water pollution in the region is one of the biggest nuisances for the residents of Landhi The newly constructed park in the area PR

Illicit tobacco identified as primar y menace to public health: CHI

K a r a c h i: In response to the misleading campaign by anti-tobacco organizations, undermining the volume and impact of illicit cigarettes Citizens Health Initiative (CHI) a public health organization emphasizes the need to counter illegal sales of cigarettes CHI asserts that the illegal trade poses the biggest threat to public health and calls for reducing the price gap between legal and illegal cigarettes, as well as substandard cigarettes PR

PAKISTAN EULOGISES CHINA , SAUDIA , TURKIYE, EGYPT FOR BOYCOTTING G20 MOOT IN SRINAGAR

had downgraded their level of involvement, which he claimed indicated the abnormality of the event He questioned the logic of promoting tourism in an area where a significant portion of the local population was imprisoned and over 900,000 armed personnel were deployed to suppress the voices of those demanding their right to self-determination

Occupied Jammu & Kashmir (IIOJK)

I n a p u b l i c g a t h e r i n g i n B a g h

A z a d J a m m u a n d K a s h m i r B i l a w a l s p e c i f i c a l l y m e n t i o n e d C h i n a S a u d i

A r a b i a Tu r k i y e E g y p t a n d o t h e r f r i e n d l y s t a t e s w h o r e j e c t e d t h e I n d i a n i n v i t a t i o n t o a t t e n d t h e c o n f e r e n c e i n t h e I n d i a n I l l e g a l l y O c c u p i e d J a m m u a n d K a s h m i r t e r r i t o r y

Bilawal highlighted that even the countries participating in the conference

Accusing the Indian government of supporting terrorist organisations the minister criticised the Modi administration for engaging in terrorism activities against Indian minorities including Muslims and Christians He pointed out the irony of the Indian government labeling advocates for human rights in Kashmir as terrorists when they themselves had been victims of terrorism

We s t a n d f o r p e a c e a n d r e p r e -

PM lauds securit y forces for arresting BNA head Gulzar Imam Shambay

s e n t t h e p e o p l e a f f e c t e d b y t e r r o ri s m , ” h e s t a t e d Referring to Indian Prime Minister Narendra Modi he asserted that when he called him a butcher members of the Bharatiya Janata Party (BJP) started crying and placed a bounty on his head He questioned the true nature of terrorism, asking whether it was those who put a price on the head of a foreign minister or those who had been victims of terrorism themselves Bhutto Zardari emphasised that as the foreign minister he represented not just a political party but every citizen of Pakistan He reiterated that the Kashmir issue was not solely a problem between Pakistan and India but a matter concerning the people of Kashmir He believed that the issue had become an interna-

tional problem and could only be resolved by granting the Kashmiris their right to self-determination Expressing hope for the future Bilawal predicted that the struggle of the Kashmiris would eventually yield results He asserted that the days were not far off when the people of Kashmir would achieve their freedom by exercising their right to self-determination

The comments made by Foreign Minister Bilawal have once again highlighted the ongoing dispute over the region of Kashmir and the differing perspectives of Pakistan and India While some countries boycotted the G20 tourism meeting in Srinagar, the matter of Kashmir remains a complex issue requiring dialogue and resolution to ensure the well-being and rights of the Kashmiri people

Demand destroyed: Automotive lending down for tenth straight month

g OUTSTANDING AUTOMOTIVE AT LOWEST SINCE JUNE 2021 WITH RS58 7B CONTRACTION OVER PAST 10 MONTHS

LAHORE D A N I YA L A H M A D

As expected automotive lending has continued its perilous descent Figures provided by the State Bank of Pakistan (SBP) reveal that outstanding automotive loans have plummeted for the tenth consecutive month from July 2022 to April 2023, resulting in a staggering contraction of Rs 58 7 billion Total outstanding automotive credit now stands at Rs 309 billion – its lowest level since July 2021 when it was Rs 308 billion

In December of last year as part of our year-end review of the automotive industry, Muhammad Iftikhar Javed, the Business Head of Secured Lending at Bank Alfalah, imparted his wisdom to Profit:

ISLAMABAD

S TA F F R E P O R T

Prime Minister Shehbaz Sharif on Tuesday congratulated the countrymen and appreciated security forces over the arrest of one of the most high profile militant leaders, the founder and head of Baloch National Army Gulzar Imam Shambay

“Congratulations to Pakistan for nabbing one of the most high-profile militant leaders, the founder and head of BNA Gulzar Imam Shambay My appreciation to the security forces for their untiring efforts to restore peace the prime minister wrote on Twitter

He said that the director general of ISI deserved the nation s highest commendation for carrying out with great sophistication, the first of its kind and the most complex” intelligence operations involving various geographical locations

“Pakistan especially Balochistan are well on the way to peace and prosperity Insha Allah Pakistan

Zindabad the prime minister remarked

SA ARC presidency shifts from Pakistan to Bangladesh

ISLAMABAD

S TA F F R E P O R T

Pakistan will transfer the presidency of the South Asian Association for Regional Cooperation (SAARC) Chamber of Commerce and Industry to Bangladesh on Wednesday for a two-year term

Iftikhar Ali Malik, the outgoing president of the body, will pass on the leadership to Jashim Uddin, the president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) during a ceremony in Dhaka Jashim Uddin who is the chairman of Bengal Commercial Bank Limited chairman of Desh General Insurance, vice chairman of Bengal Group of Industries, and a notable philanthropist, was announced as the incoming president of the SAARC chamber in a press statement received on Tuesday

Pakistan has fulfilled its two-year term serving

SAARC which comprises the national federation chambers of commerce and industry from the member states of SAARC Malik highlighted that the establishment of the SAARC Chamber aimed to promote trade and industry in the region, as well as to pursue common objectives in these areas T h e S A A R C c h a m b e r i s r e c o g n i z e d a s t h e r e p r e s e n t a t i v e v o i c e o f t h e p r i v a t e s e c t o r a c r o s s t h e r e g i o n

He further expressed Pakistan s significant role in fostering regional economic integration and connectivity among all member countries since the establishment of SAARC

ISLAMABAD

S TA F F R E P O R T

Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Tuesday claimed that members of his party were being forced to leave the PTI at gunpoint

Speaking informally to journalists at an anti-terrorism court (ATC) in Islamabad, Imran said, “People are not leaving the party on their own they are being forced to do so and that too at gunpoint

However he maintained he was not bothered by the several key PTI leaders who have in recent days called it quits, saying that parties never die down like that; they are weeded out like the [ruling coalition] PDM is erod-

Coca Cola requests FBR to reduce FED on beverages to 16% in F Y24 budget

on Tuesday The representatives appraised that Pakistan is the second country after Saudi Arabia where beverages are highly charged and the recent increase in FED has reduced sales by around 25% On these grounds it was requested that FED on beverages should be reduced to 16% from 20% in next year s budget

Discussing the pre-budget proposals, representatives of the Karachi Chamber of Commerce and Industries deplored that the 3% value-added tax being charged on raw materials at import stage is unjustifiable and should be revisited

They also apprised that a major bulk of buyers in the country are unregistered and that the provision of CNIC on supplies to unregistered persons has become a major hurdle in business transactions Above all, 3% further tax is being imposed on the registered supplier on the provision of buyer CNIC, they added

They asserted that the 3% further tax on the registered sellers must be revoked since it is not based on rationale

“The fate of automotive lending is inextricably linked to the automotive market Quarter one of 2023 will maintain the status quo However we anticipate a resurgence in quarter two if there are favourable developments on the economic and political front or even if there is a relaxation in automotive imports

We remain optimistic that lending will pick up even if the State Bank does not reverse its prudential requirements Quarter four of 2023 is when we expect a return to normality; however our predictions are contingent upon numerous variables

What’s happened to the automotive lending space?

A significant factor contributing to the current situation is the surge in car prices, compounded by the elevated cost of borrowing The majority of customers have loans that incorporate variable interest rates as part of the lending product to which they subscribe resulting in a subsequent escalation in their repayment costs due to the increase in rates Javed elucidates

Our observations indicate that individuals have chosen to terminate their loans entirely by settling them in full, as they had initially purchased their car at a considerably more affordable price relative to the present They have achieved this by selling the car outright to absolve themselves of the loans or by opting to sell the car and subsequently downgrade to more economical vehicles These more cost-effective vehicles have been purchased with cash from the sale of their previous vehicle, rather than resorting to financing once again,” expounds Javed Is there hope on the horizon?

“Despite the tumultuous ride over the past two to three weeks experts predict that on a macro level

we can anticipate political and economic stability later in the year They also foresee promising developments in Pakistan s geographical and geopolitical vicinity This will undoubtedly have a positive impact on Pakistan itself, even if our domestic crises remain unresolved, declares Javed

“The situation in the automotive lending space is clear for all to see The current trend will persist We’re anticipating a slight uptick albeit an insignificant one to materialise in the fourth quarter of this calendar year However this will be minuscule barely perceptible Apart from that the current trend will endure, Javed continues Why isn’t there a default crisis in the automotive lending space?

While the SBP’s data does not divulge information about non-performing loans (NPL) beyond 2022 it is safe to surmise that the economy was in a precarious state by the end of 2022 Despite this the infection ratio for NPLs remained relatively unchanged

Despite the mounting inflationary pressures, escalating cost of living and borrowing, banks have managed to maintain remarkably stable automotive lending portfolios Admittedly the repayment structure has been disrupted but the risk of a default crisis remains negligible asserts Javed

The explanation for this is twofold Firstly the meteoric rise in car prices has resulted in a corresponding increase in their value as assets Customers have been compelled to maintain their loan in some capacity because the car they purchased for Rs 3 000 000 is now valued between Rs 5 500 000 to Rs 6 000 000 he expounds

The second reason is the evolution of risk architecture at banks particularly among seasoned players with over 20 years of experience in the lending space Many banks exhibited prudence as early as October 2021, anticipating the potential onset of a crisis ” continues Javed Have the banks noticed any interesting patterns amidst the current demand collapse?

A perusal of the data reveals a conspicuous contraction in the demand for vehicles with lower engine displacement vis-à-vis their higher displacement counterparts An extrapolation based solely on automotive sales indicates an upsurge in the sales of premium vehicles thereby corroborating the notion that the affluent strata in Pakistan have become increasingly prosperous explains Javed

President Islamabad Chamber of Commerce and Industries Ahsan Zafar Bakhtawari mentioned that the industries located in the erstwhile FATA are currently exempt from sales tax and the concession is putting steel industries located in settled areas at a great disadvantage

He suggested that an equitable environment should be created by withdrawing the said exemption so that the industries on both sides could flourish at the same pace

Moreover, Dr Khurram Tariq, President Faisalabad Chamber of Commerce and Industries maintained that small businesses having turnover of around 150 million rupees should be exempted from computerized balloting audit for sales tax and an audit of said businesses should be completed within six months instead of preceding for five years

He apprised that these measures will help small businesses to flourish and eventually enhance their productive contributions

Ehsan Malik CEO Pakistan Business Council apprised that 100 of the most prominent businesses of the country are generating 40% export in addition to its 20% share in GDP and approximately 56% taxes have been collected from it

He suggested that an equitable tax regime should be initiated besides providing ease of doing business and reducing the manufacturing cost

Representatives of the Chamber of Commerce and Industries unanimously underscored the need of broadening the tax base of the country and demanded that super tax ranging from one to ten percent on different affluent individuals and companies should be withdrawn They also highlighted the need to revisit the Pak-Afghan transit

Member FBR Afaq Ahmad Qureshi apprised that the recommendations of all stakeholders have been received and FBR has initiated deliberations on the said proposals and will inform the standing committee accordingly

The meeting was attended by Senator Saadia Abbasi, Senator Dilawar Khan, Federal Minister for Climate Change Senator Sherry Rehman Senator Mohsin Aziz (via phone call) State Minister for Finance as well as Revenue Dr Aisha Ghaus Pasha Chairman FBR Asim Ahmad Special Secretary Finance Division Hamed Yaqoob Sheikh, CEO PBC Ehsan Malik Presidents of various chambers of commerce and industries were also in attendance

Designer Khadija Shah surrenders to police for alleged role in attack on Jinnah House

LAHORE S TA F F R E P O R T

Prominent fashion designer and Pakistan Tehreek-iInsaf (PTI) supporter Khadija Shah has been taken into custody in relation to the assault on Jinnah House that took place in Lahore following the arrest of party chairman Imran Khan on May 9

Khadija Shah turned herself in at the Central Intelligence Agency (CIA) Iqbal Town police station on Tuesday Police officials confirmed the arrest of the fashion designer

The daughter of former finance minister Salman Shah and the brains behind the fashion label Elan, Khadija Shah is suspected to have been among those leading the attack on the Jinnah House which is currently used as the residence of the Lahore Corps Commander

A few days earlier in an audio clip circulating on social media before her surrender Shah could be heard explaining the immense hardship her family has faced over the past few days

“They invaded my house during midnight and abducted my father brother and husband ” she stated

Zaman Park

ing the way their vote bank is depleting

I am only worried about the workers and especially the women he added

The PTI chief made these remarks ahead of his hearing at the ATC where judge Raja Jawad Abbas was hearing his petition for bail in eight different cases Imran was booked under terrorism charges over violence that ensued outside the Judicial Complex ahead of his hearing in regard to the Toshakhana case in April

During the proceedings, Imran s lawyer Salman Safdar told the court that Imran faced security threats and for that reason, the Lahore ATC had granted him permission to have his statement recorded by the judicial investigation team (JIT) at his residence in

noting that her father who is diabetic and her brother were detained Khadija Shah, who is also the daughter-in-law of

It is not that we do not wish to face these cases the lawyer argued

We are prepared to answer every question, he added saying that if the court would permit him, he would present his arguments for all cases in the next hearing

The lawyer also said that there were several cases pending hearing on June 8 at the Islamabad High Court (IHC) against Imran where the accusations were to the extent of personal choices Meanwhile, the special prosecutor argued that Imran had failed to appear before the court on April 6 and 18 and even refused to join the investigation being pursued by the JIT in four cases He stressed that in case of

former Chief of Army Staff Gen (retd) Asif Nawaz Janjua clarified that she believes in democracy and the Constitution despite the charges levied against her I have not committed any crime and I am a Pakistani who believes in democracy and the Constitution

Prior to her surrender, police claimed to have unsuccessfully raided two houses in Gulberg and one in Bahria Town to apprehend Shah It was claimed that she had left her flat dressed in a burqa an hour before the police arrived and was using a friend’s mobile phone for communication

The release of the audio clip on Sunday and her subsequent disappearance had led social media users to wonder about the whereabouts of the fashion designer

The attack on Jinnah House is part of a larger series of violent protests and riots following the arrest of Imran Khan on May 9 which the Pakistan Army now refers to as a Black Day

Along with public and private properties significant damage was caused to the Jinnah House with rooms halls, drawing rooms, living rooms, walls, curtains, doors, wooden ceilings, and even the floor being burnt by protesters

interim bail it is necessary for the accused

to join the investigation

The high court has said that the investigators may go to the accused and have him join the investigation, the judge observed

However, the special prosecutor maintained that these orders were given in another case not the one that was before the court today Meanwhile Imran s lawyer alleged that the investigators were not interested in running a criminal investigation and are only insisting that we go there

“We are ready to answer if there are any questions,” he added; but the special prosecutor nonetheless maintained that the IHC had ordered Imran to join the investigation

Taking the podium himself Imran said

he had faced two assassination attempts one at the Wazirabad rally and the second at the Judicial Complex

The interior minister even admitted on Monday that there was a threat to my life, he said “Every time I leave the house,” he said “I put my life in danger” The court expressed its dismay at the absence of the JIT from the court proceedings questioning if they thought they are above the law

Later, the ATC extended Imran s bail until June 8 in eight different cases and summoned the JIT officers who have been directed to appear shortly The court has sought an explanation from the officers about the method whereby Imran is to join the investigation