Epaper_23-05-3 ISB

Profit

TOP JUDGE’S POWERS: CJP VOWS NOT TO COMPROMISE ON JUDICIAL FREEDOM

claring the act “shall not have take or be given any effect nor be acted upon in any manner ”

Barrister Salahuddin Ahmed appeared on behalf of the Pakistan Muslim League-Nawaz (PML-N) Farooq Naek represented the Pakistan Peoples Party (PPP) and Hassan Raza Pasha, a Pakistan Bar Council (PBC) official, represented the union of lawyers before the court

During the hearing, Attorney General Mansoor Usman Awan revealed that some political parties would like to address the bench via video link, to which the chief justice responded that the bench will hear everyone He remarked that the judiciary has “reservations” over the law and emphasised that the independence of the judiciary is a fundamental right Pakistan Tehreek-e-Insaf (PTI) lawyer Khawaja

Tariq Rahim said the judicial reform bill has become part of the law The court sought a record of the debate held in the parliament and a standing committee on judicial reforms

ISLAMABAD

CH I E F Justice Umar Ata Bandial Tuesday said an independent judiciary is necessary for democracy to function in Pakistan, as the Supreme Court held a hearing to consider a set of petitions challenging a law that aims to restrict the authority of the top judge

An eight-judge larger bench headed by Justice

Ijaz ul-Ahsan Munib

Bandial and comprising justices

Akhtar Mazahar Ali Akbar Naqvi Muhammad Ali

Mazhar Ayesha Malik Syed Hasan Azhar Rizvi and Shahid Waheed heard the petitions filed under Article 184(3) of the Constitution which deals with the jurisdiction of Supreme Court

The law reads: the Supreme Court shall, if it considers that a question of public importance with reference to the enforcement of any of the fundamental rights [ ] is involved have the power to make an order of the nature mentioned in the said article ”

The bill in question, which has already become an act of parliament seeks to limit the individual authority of the chief justice to initiate suo motu proceedings and form benches unilaterally and instead places these powers in a panel consisting of the chief justice and two senior-most judges of the Supreme Court

The law also proposes the right to appeal against suo motu decisions

Last month, the court had preemptively frozen action on the bill even before it was passed into law, de-

Top militar y brass, agencies brief PM on national security

Pasha, who heads the executive committee of the PBC requested the inclusion of senior judges in the bench while the union also sought the formation of a full court and the exclusion of Justice Naqvi who is part of the bench However the court rejected his request T h e c h i e f j u s t i c e s t r e s s e d t h a t i n d e p e n d e n c e o f the judiciary is a fundamental right, and it cannot b e c h a n g e d H e r e m a r k e d t h a t p o l i t i c s h a s t a i n t e d t h e j u d i c i a l p r o c e s s , a d d i n g t h a t c o m p l a i n t s k e e p coming against most of the Supreme Court judges including myself ” The demand for a full court and removal of judges was also made during the election delay case The hearing of the pleas was adjourned by the court till May 8 and the chief justice directed all parties in the case to submit written arguments in the case

SC registrar seeks record of NA sessions

Countr y ’s largest fir ms repurchase shares as default fears

mount

Companies in Pakistan are seeking to repurchase their shares as valuations plummet to their lowest level in at least a decade due to a bid to secure an International Monetary Fund (IMF) bailout programme, according to Bloomberg Lucky Cement and Habib Bank, two of Pakistan s largest conglomerates, have both revealed their plans to buy back shares, while at least five other companies are expected to do the

Headline inflation in April at record

Pakistan continues to face economic distress as its headline inflation hit a record high of 36 4% in April 2023 According to data released by the Pakistan Bureau of Statistics (PBS), on Tuesday, the Consumer Price Index has gone up by the record highest, on a YoY basis This is the highest inflation rate recorded since 1965

The rise in inflation is mainly attributed to a surge in food and energy prices as well as a depreciation of the Pakistani rupee The country has also been grappling with political turmoil and a perceived default risk Furthermore, its bailout program with the International Monetary Fund (IMF) has been stalled since November 2022 and negotiations to resume funding have been ongoing since February 2023

The situation has led to an increased risk of default, and international rating agencies have downgraded the country’s economic status The State Bank of Pakistan (SBP) has implemented a contractionary monetary policy and the possibility of another rate hike cannot be ruled out The current economic and political instability in Pakistan has made life difficult for its citizens, with monthly inflation reaching an alltime high According

increased to 42 1% in April 2023 as compared to an increase of 40 4% a month earlier and 14 2 % in April 2022 On a MoM basis it increased by 2 7 % in April 2023 as compared to an increase of 5 8 % a month earlier and an increase of 1

in the previous

% in April 2022 On (MoM) basis, it increased

Prime Minister Shehbaz Sharif on Tuesday chaired a meeting which was attended by top military brass and the heads of sensitive agencies and discussed with them the matters pertaining to the national security According to sources national security issues were considered in the meeting while the heads of sensitive institutions briefed the prime minister on the security issues as well as the overall situation, including the border situation The meeting was attended by Army Chief Gen Asim Munir, Director General of the Inter-Services Intelligence (ISI) LtGen Nadeem Anjum and relevant senior officials The prime minister expressed satisfaction over the performance of the military institutions Also Prime Minister Shehbaz consulted cabinet ministers and senior leaders from his Pakistan Muslim LeagueNawaz party on the court proceedings pertaining to the bill on the powers of the chief justice as well as the elections on Punjab According to Express News, Sharif chaired a meeting with party leaders, during which Law Minister Azam Nazir Tarar briefed the participants on the relevant constitutional issues A detailed consultation was held on the overall political situation of the country according to the report The court proceedings were also reviewed in detail in the meeting it added The meeting agreed to continue using the forum of parliament effectively The participants reiterated their commitment not to allow anyone to interfere in the affairs of parliament,” the report added Separately, a delegation, led by Azad Jammu and Kashmir (AJK) Prime Minister Anwarul Haq met the prime minister During the meeting Shehbaz assured Haq of resolving the AJK s problems regarding the development funds as soon as possible Pakistan stands with the people of Indian Illegally Occupied Jammu and Kashmir (IIOJK) in their struggle for freedom and the government of Pakistan will continue to provide moral, political and diplomatic support for their right to self-determination ” Shehbaz said that India’s move of stripping Kashmir of its special status on August 5 2019 was an illegal action and a violation of human rights He urged the international community including the United Nations to take notice of it The delegation comprised AJK ministers Waqar Noor Faisal Rathore AJK lawmaker Latif Akbar PML-N AJK President Shah Ghulam Qadir, AJK Peoples Party President Chaudhry Yasin and former AJK prime minister Raja Farooq Haider

high, hits a distressing 36.4pc

1 6 T H M A N A G I N G E C O N O M Y O

F PA K I S TA N C O N F E R E N C E

K I C KS O F F AT L S E D U R I N G S U M M E R O F D I S C O N T E N T

was now stabilising and after almost no growth in 2022-23 it was likely to grow to resume modest growth in 2023-24

The Pakistani economy will start an upward growth trajectory in the next fiscal year The reasons behind this was (1) the

Current Account seems to be recovering from its deep deficits – albeit with import controls that need to be better targeted said Dr Moazam Mahmood Professor of Economics at the Lahore School

dollars

He also showed that capital flight is extremely sensitive to economic conditions which means that sustained economic growth will tempt capital to return If the Pakistani economy can rebound quickly to a 4-5% growth rate it is estimated that at least $5 5-6 billion of capital can flow back to Pakistan each year

has been in

The government is in the process of negotiating what is seeming to be an impossible IMF programme, and the threat of default has everyone in nervous sweats All of these factors combined with rising inflation mean the need has never been greater to find solutions to Pakistan s economic management

Right off the bat, the immediate concern seemed to be collection of data In a country where core data is unavailable, how do you manage an economy of 250 million people?

Dr Shahid Chaudhry rector of the Lahore School of Economics in his inaugural remarks stated that the current difficult economic situation faced by Pakistan emanated in large part from the effects of Covid in 2019-20 and the Ukraine war starting in 2022 The Pakistan economy

Dr Rashid Amjad, Professor & Director of the Graduate Institute of Development Studies at the Lahore School and Almazia Shahzad analysed the post-2019 shifts towards a market-driven exchange rate and found that while the exchange rate may have been overvalued in the past, this has been reversed recently which should make exports more competitive The paper advised to manage Pakistan’s marketdetermined exchange rate regime through building up and maintaining adequate reserves

Dr Azam Chaudhry, Pro Rector, Dean and Professor of Economics at the Lahore School of Economics, estimated capital flight from Pakistan using the data from the balance of payments and the level of trade misinvoicing in Pakistan

Dr Azam concluded that in the last 10 years, capital flight has reached to significant levels over the last few years reaching almost 5 billion

Mr Syed Shabbar Zaidi discussed the oversized role of federally collected tax revenues in the total tax pool of Pakistan and how the large transfers of revenues as a result of the 18th Amendment to the provinces has resulted in them not developing the capacity to generate revenues on their own

Dr Matthew McCartney, of the Chartered Cities Institute, and a managing editor of the Lahore School’s influential Lahore Journal of Economics provided an overview of two relatively successful periods of economic and political stabilisation in Pakistan 2000-2001 and 2013-2106 and asked what lessons can be learned and implemented in 2023 Dr Matthew proposes reforms in delimited economic areas – Special Economic Zones (SEZs) and independent Pockets of Efficiency – independent central bank revenue collection authority, telecoms regulatory Drs Moazam Mahmood, Azam

Chaudhry and Shamyla Chaudhry highlighted how fiscal deficits can drive trade deficits They highlighted that a significant amount of debt is the result of the foreign debt incurred as a result of the recurring current account devidits A smaller though still significant amount of the debt that has accumulated as a result of the need to fund the government s high annual budget deficit Highlights that policy to then alleviate future BOP crises has to acknowledge that part (62%) of the problem lies in the tradables sector The FY 2022 level of Gov expenditure of 8 % of GDP is financed externally by a quarter which is 2 % of GDP The authors gave suggestions for debt management Naeem Sheikh and Arshad Hassan, of the Lahore School of Economics, discussed the causes and ramifications of low tax revenue mobilization and tax compliance in Pakistan The largest impact on compliance will result from the real- time exchange and analysis of taxpayer/trader data among the FBR, provincial tax authorities and withholding agents Dr Theresa Chaudhry, Professor of Economics at the Lahore School coDirector of the Innovation and Technology Centre at the Lahore School and one of the editors of the Lahore Journal of Economics, and Hamna Ahmad of the Lahore School of Economic asked whether Pakistan can look

IGI Investments (Private) Limited acquires majorit y biopharmaceutic al company

and Sections 96 and 131 of the Securities Act 2015 Details of IGI Holdings Limited s investment in Sanofi Aventis Pakistan Limited The disclosure form attached in the letter sent to the PSX highlighted that IGI Investments (Private) Limited has acquired a further 5 87% equity stake in Sanofi-Aventis Pakistan Limited (Sanofi Pakistan) The stakes were bought at a negotiated purchase price of Rs 940 per share This latest transaction was part of the proposed acquisition of the entire 52 87% shareholding that was previously held by Sanofi Foreign Participations B V It was further shared

to the service economy specifically to the gig economy as a source of dynamic export growth They used unique data from IT services offered online to foreign companies to understand the types of jobs that are being demanded, the characteristics of those offering IT services and the renumeration offered to those offering services They also discussed the potential for IT exports and also discussed government policies to promote IT exports

Dr Naved Hamid, Ali Chaudhry and Murtaza Syed discussed how monetary policy could have reduced the impact of the current economic crises and lessons which can be drawn for monetary policy in the future The authors proposed (1) to improve coverage and frequency of domestic demand indicators (especially quarterly GDP) (2) Maintain healthy degree of caution around fiscal projections (especially during times of political stress and around elections) (3) Be conservative about external prospects (current account, FX reserves and foreign inflows) and their impact on the exchange rate and imported inflation (4) Beware of supply shocks that can quickly morph into an inflationary spiral through expectations (pay attention to the whole distribution of expectations measures, especially as Pakistan has a history of ‘sticky’ core inflation)

Dar rejects news about OGRA’s petrol-price reduction recommendation

ISLAMABAD a p p

Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Tuesday rejected reports that the Oil and Gas Regulatory Authority (OGRA) had recommended a decrease in the price of Motor Spirit Oil (MSO – Petrol) for first fortnight of the current month, terming them ‘baseless and untrue ’ “Some reports have been circulating in the press and electronic media stating that OGRA made recommendation to the government for a reduction in the price of Motor Spirit/Petrol with effect from 1st May 2023 which are baseless and untrue ” the minister clarified on his Twitter handle Meanwhile OGRA spokesman Imran Ghaznavi in a brief press statement said the authority did not recommend any decrease in the prices of MS/Petrol The recent decrease in international price was offset against the outstanding exchange rate adjustment and as such there was no room for a decrease in the local prices of MS/Petrol

dated December 035 2012

S ilkbank, UBL in talks for potential merger

KARACHI

M a R a M U M a R fa R o o q Silkbank is once again in the talks of the town

According to a filing to the Pakistan Stock Exchange (PSX) shared by the Silk Bank United Bank Limited (UBL) has expressed interest in a potential merger with Silkbank Limited

The potential merger will remain subject to due diligence, internal and regulatory approvals and definitive documents ” it said

The Board of Directors of the bank has reviewed and considered the UBL proposal and granted its approval to the management of the bank to formally pursue the potential merger and take the required steps, including but not limited to seeking permission of State Bank of Pakistan (SBP) for allowing due diligence of the bank and to enter into discussions with UBL to finalise the terms and conditions/documentation for placing before the Board for its consideration and approval if considered appropriate it added

What is in it for UBL?

Silkbank, formerly the Saudi-Pak Commercial Bank, is primarily focused on the consumer segment with a portfolio of services consisting of consumer loans and credit cards The smallest bank of Pakistan manages a good credit card and personal loan portfolio and has sound Shariah-compliant products UBL could expand its outreach by merging with Silkbank It could merge its Islamic banking operations with Silkbank to

appease the ever growing demand for Shariahcompliant financial products

What is in it for Silkbank?

Silkbank has been making losses for a few years now The bank reported a profit of Rs 13 2 billion in 2018 Thereafter, it reported a net loss of Rs 3 95 billion in 2019 which increased to Rs 6 57 billion at the end of 2020 Its accumulated losses amounted to Rs 20 27 billion at the end of 2020 the latest period for which the bank has published its financial accounts Its capital stood at Rs 3 16 billion against the prescribed minimum capital requirement of Rs 10 billion at the end of 2020 Similarly, its capital adequacy ratio was -4 45% against the prescribed level of 11 5% on Dec 31

Needless to say that the bank is in desperate need of new capital to meet regulatory requirements Earlier this year Silkbank said in a press release that the bank is on a growth trajectory But annual reports have not been made available to the public Organisations that expressed interest in Silkbank Silkbank has a history of drawing the attention of investors and UBL has emerged as the third potential investor in a short span

Later on, Pakistan Housing Finance Company (PHFC) a subsidiary of Lake City Limited and a leading consortium of an investor group supported and backed by the renowned management of Burj Capital which carries the required experience of setting up and successfully managing Islamic and conventional banks in Pakistan, proposed an investment of up to Rs 12 billion into Silkbank Limited’s equity

Amongst the local investors that expressed interest in the bank include Fauji Foundation In early 2021, Fauji Foundation, which has a stake in Askari Bank

Khawaja Asif castigates judiciar y, demands accountabilit y of judges

ISLAMABAD S ta f f R e p o R t

Defence Minister Khawaja Muhammad Asif has strongly criticised the judiciary for ‘interfering in political matters demanding accountability of incumbent and former judges Speaking on the National Assembly (NA) floor, the defence minister accused the Supreme Court (SC) of Pakistan of conspiracy, saying that a ‘special committee should be constituted to investigate the cases from prosecution of former premier Zulfiqar Ali Bhutto till date’ Khawaja Asif lambasted the Supreme Court for ordering the political parties to negotiate saying that it should first end their differences instead of ordering them

ISLAMABAD

S ta f f R e p o R t

CUSTOMS Intelligence has foiled attempt to smuggle Sugar Fertilizer from Balochistan to Afghanistan and seized 86 840 bags of smuggle Sugar, Fertilizer worth Rs 392 317 million in Balochistan

In pursuance of the directions of the Prime Minister of Pakistan to launch a crackdown against the smuggling of essential items from Pakistan to the neighbouring countries a credible information was received through Director General, Directorate General of Intelligence and Investigation Customs, Islamabad Faiz Ahmad that a huge quantity of Pak Origin Fertilizer Urea & Sugar are dumped at

different premises/godowns in and around Khuzdar City for onwards smuggling from Baluchistan to Afghanistan

Directorate I&I Customs, Gaddani Dr Tahir Qureshi, Director was assigned the lead role in conducting the operations in association with the officials of the Regional office Quetta who deputed Moeen Afzal Ali

Additional Director to execute the operation for seizure of the essential items from various dumping sites of District Khuzdar in wake of information provided by the Director General The Customs Intelligence team led by Majid Hussain Gaad Assistant Director duly assisted by Frontier Corps Kalat Scouts at Khuzdar, Distt administration and Police

The joint team on 29 04 2023 searched the Farm House of the local smuggler and

recovered 26 407 Bags of Fertilizer Urea and 8 209 Bags of Sugar from the premises

After successful accomplishing the first leg of the operation , the joint team thereafter, conducted the raid on another specific compound, namely, Shafiullah Crushing Plant near Hajr-e-Aswad Hotel on the RCD Highway Khuzdar District which resulted in recovery of 10 630 Bags of Pak Origin Fertilizer, Urea and 3,770 Bags of Pak Origin Sugar from the different areas of the open compound

To pursue the third part of the Intel the Joint Team reached the Arbab Complex a local market shops of which have been rented for the purposes of illegal hoarding of the essential items with intent to smuggle these goods out of Pakistan

T h e j o i n t t e a m f a c e d s t i ff r e s i s t a n c e

from the owners of the shops who did not a l l o w a c c e s s t o t h e J o i n t Te a m t o t h e m a r k e t a n d t h r e a t e n e d t o b l o c k R C D

Highway After lengthy deliberations and negotiations with the help of local elders, t h e j o i n t t e a m m a n a g e d t o d i s p e r s e t h e c r o w d A f t e r s e c u r i n g t h e s h o p p i n g complex thorough search of each shop was c o n d u c t e d t h a t r e s u l t e d i n r e c o v e r y o f

22,978 bags of Pak origin Sugar and 2,646 bags of Pak Origin fertilizer Urea from 33 different shops

Earlier in two other operations Customs Intelligence Balochistan has also seized 2 200 bags of Urea fertilizer and 10 000 bags of sugar at Gadani and Noshki during the past few days It is pertinent to mention that the owners of the premises could not produce the

PML-n ‘targeting’ sC judges to get bench hearing nAB amendment case dissolved: Fawad

LAHORE S ta f f R e p o R t

PTI Senior Vice President Fawad Chaudhry on Tuesday said the PML-N was “targeting” Supreme Court judges (SC) in a bid to get a three-member bench comprising Chief Justice of Pakistan Umar Ata Bandial and Justices Masoor Ali Shah and Justice Ijazul Ahsan dissolved and stop its verdict on amendments to the accountability law

After coming into power in April the incumbent government had passed the National Accountability (Second Amendment) Act 2022 for amendments to the accountability law a move that was heavily criticised by PTI, who termed the legislation an attempt to turn the anti-graft watchdog into a “toothless” organisation I n J u n e f o r m e r p r i m e

m i n i s t e r I m r a n K h a n c h a l l e n g e d t h e a m e n d m e n t s t o t h e N a t i o n a l Accountability Ordinance The petition s t a t e d t h a t t h e a m e n d m e n t s w i l l v i r t u a l l y e l i m i n a t e a n y w h i t e - c o l l a r c r i m e c o m m i t t e d b y a p u b l i c o ff i c e h o l d e r ”

Speaking to the media in Lahore today Chaudhry specifically referred to PML-N Chief Organiser Maryam Nawaz s address at a workers convention yesterday alleging that the ruling party was running a campaign against superior court judges “And the only objective of this campaign is that the bench hearing NAB amendment cases gets dissolved and doesn t issue its verdict The Rs1 100 billion raked in by the Sharif and Zardari families via what we call the NRO 2023 (a reference to the legislation for amendments to NAB

MOFA must intensif y effor ts to expose Indian designs behind planned G-20 Summit: President

ISLAMABAD

S ta f f R e p o R t President Dr Arif Alvi has asked the Ministry of Foreign Affairs (MOFA) to intensify its efforts to expose India s nefarious designs and the ulterior motives behind its planned move to hold the G-20 Summit in the UN-recognized disputed territory of the Indian Illegally Occupied Jammu and Kashmir (IIOJK) The President expressed these views on Tuesday while conveying the letter of the Convener of the All Parties Hurriyat (Freedom) Conference (APHC), Mehmood Ahmed Saghar, to the Ministry of Foreign Affairs (MOFA), for appropriate action on the issue raised by him In his letter to the President, Mr Mehmood Ahmed Saghar had sought the urgent attention of Pakistan towards the Indian government s highly controversial move to convene a meeting of the members of the G-20 countries in Srinagar and its farreaching consequences on the Kashmiris ongoing struggle for the right to self-determination Expressing serious concern over the India’s plan to hold the G-20 Summit events in the UN-recognized disputed territory the Convener termed the move as a part of a multi-faceted and multi-front campaign that New Delhi had been waging to create confusion about the Jammu and Kashmir Dispute He added that India wanted to dilute Kashmir ’s international and legal status; strengthen the notion that Kashmir was nothing but its internal matter

laws) the Supreme Court is being targeted to protect this (NRO) ” he added In this connection he also mentioned recently surfaced audio clips, purportedly featuring the voices of judges’ relatives “You see audio clips surfacing [ ] that are spread and Maryam Nawaz has said on record that she also has access to videos So we should also be prepared for videos of judges being surfaced, he said The PTI leader further said that the three judges hearing cases pertaining to NAB law amendments had the support of the entire country Entire Pakistan is standing with you (judges) so don t fall victim to any blackmailing and make independent decisions H e u rg e d t h e j u d g e s t o m a k e

d e c i s i o n s i n a c c o r d a n c e w i t h t h e l a w a n d C o n s t i t u t i o n s a y i n g t h a t “ g e t t i n g t h e j u d g e m e n t s i m p l e m e n t e d i s t h e p e o p l e s j o b He also announced that PTI Chairman Imran Khan s wife, Bushra Bibi, had decided to send a “notice” to Maryam, informing the PML-N leader that a criminal case was being registered against her for damaging the reputation of the former first lady Chaudhry also chastised Chief Election Commissioner Sikandar Sultan Raja, accusing him of misconduct in appointments to the Election Commission of Pakistan He said the only hurdle in conducting free and fair elections was the CEC himself and it is because of him that overseas Pakistani would not be able to vote in the elections

Agriauto Industries declares four th consec utive par tial shutdown for 2023

LAHORE

Da n ya l a h M a D

Agriauto Industries has informed the Pakistan Stock Exchange (PSX) that it will undergo a partial shutdown throughout May The company cites a decrease in its customers’ production volumes as the reason for this decision This will be the fourth consecutive month that the company has observed a partial shutdown

As we have previously stated in our notification our reliance on the automotive sector as consumers has led us to observe partial shutdowns on a monthly basis since the beginning of the year, explains Shaharyar Ashraf Khan, Company Secretary at Agriauto Industries

“The shutdowns are also due to our forecasts not indicating an increase in automotive demand This is why Agriauto has issued notifications regarding the partial shutdowns, adds Khan

What is Agriauto Industries?

Agriauto Industries Limited is a public limited company that was incorporated in 1981 and is listed on the stock exchange It is one of the foremost manufacturers of automotive components in the

private sector, and was the first company in Pakistan to obtain TS16949 certification

The company also owns a wholly-owned subsidiary Agriauto Stamping Company Its associated companies include Thal Limited Shabbir Tiles & Ceramics and Thal Boshoku Pakistan (Private) Limited Agriauto Industries product portfolio includes shock absorbers and struts, motorcycle shock absorbers and parts, sheet metal press parts, and tractor parts, among others Is there respite on the horizon?

The automotive sector is facing a daunting predicament but it s not alone The entire economy is reeling from the pernicious effects of rampant inflation We re all in this together But there s a glimmer of hope on the horizon As we approach the final quarter of the fiscal year, we’re cautiously optimistic that we’ll see a resurgence across the board Khan explains And there s more good news As restrictions on letters of credit (LC) are gradually lifted and more are released, we re expecting to see an uptick in momentum and a return to our normal production schedule ” Khan continues

HsBC rewards shareholders with buyback , dividend as profit triples

HSBC R e U t e R S H S B C H o l d i n g s ( H S B A L ) s a i d o n Tu e s d a y i t s p r o f i t t r i p l e d i n t h e f i r s t q u a r t e r, b e a t i n g e x p e c t a t i o n s , a s r i s i n g i n t e r e s t r a t e s b o o s t e d t h e l e n d e r ’s i n c o m e a n d h e l p e d i t p a y a f i r s t q u a r t e r l y d i v i d e n d s i n c e 2 0 1 9

The strong results of HSBC and its Asian rival DBS (DBSM SI) underscore the boost to their balance sheets from aggressive policy tightening, even though it has brought banking sector turmoil, chiefly in the U S

On Monday regulators seized First Republic Bank (FRC N) and sold its assets to JPMorgan Chase & Co (JPM N) in a deal to resolve the largest U S bank failure since the 2008 financial crisis and draw a line under the bank sector jitters

With the rate cycle nearing a peak, the challenge for the likes of HSBC, Europe’s largest bank, and DBS will be to sustain their margins this year and beyond

HSBC CEO Noel Quinn said the results showed its strengths in a rising rate environment and played down the risks of further contagion for the banking sector

We do not believe there is a global banking crisis on the horizon We do not see a negative impact on our business” as a consequence of First Republic Bank’s rescue ” Quinn told a conference call SBC posted a pretax profit of $12 9 billion for the quarter ended March versus $4 2 billion a year earlier The profit was much higher than the $8 64 billion average estimate of 17 analysts compiled by the bank Hong Kong shares of HSBC rose 3 3% in afternoon trading HSBC’s headline profit was boosted by a reversal of a $2 billion impairment it took against the planned

sale of its French business, reflecting the fact that the deal may not go through It had warned last month that its France disposal could be in jeopardy over regulatory capital concerns for the buyer The London-headquartered bank also reported a delay in the time frame for the completion of the sale of its Canada business, a key part of its strategy to shrink in slow-growing Western markets where it lacks scale The bank said the planned $10 billion sale originally slated to be completed by the end of this year will now only likely go through in the first quarter of 2024

DIVIDEND

HSBC has tried recently to accelerate its pivot to Asian markets in part to head off calls from its biggest shareholder Ping An Insurance Group Co of China (601318 SS) to spin off the Asia unit to boost shareholder returns Shareholders will vote at the bank s annual meeting on May 5 on two resolutions filed by a Hong Kong investor and supported by Ping An, calling for higher dividends and a regular update on strategic proposals such as the spin-off plan HSBC which has opposed the resolutions criticised the spin-off proposal again on Tuesday Shareholder advisory firms Glass Lewis and Institutional Shareholder Services have recommended that investors vote against the proposal, which requires a 75% approval to pass Norway s state investment fund the bank s fourth biggest shareholder with 3% ownership has also said it will vote in line with HSBC The British lender announced a dividend of $0 10 per share and flagged the first of a new cycle of buybacks of up to $2 billion

“With the good momentum we have in our business we expect to have substantial future distribution capacity for dividends and share buybacks Quinn said in the results statement HSBC, in common with some other British lenders, reported deposits fell 0 6% for the quarter to $1 6 trillion, excluding those it acquired by bailing out the local arm of failed U S lender Silicon Valley Bank and the reclassification of French retail deposits Quinn said the drop was nothing significant Big European banks have reported deposits falling as consumers, faced with a cost of living crisis eat into savings and shop around for higher-paying products such as fixed-term deposits and investment funds Despite the surging profit, HSBC did not raise its key performance target of reaching a return on tangible equity of at least 12% from this year onwards, while analysts were estimating the key metric would be lifted HSBC’s results showed a strong overall performance but the lender s failure to upgrade its outlook as a result was overly cautious, analysts at Citi said

documents about the legality of the goods stored as per the Standard Operating Procedure issued by the Agriculture & Cooperatives Department, Government of Balochistan against the hoarding, illegal transport and smuggling of essential items i e Urea and Sugar

Thus during the ongoing operations against the smuggling of essential commodities, the Customs Intelligence has seized 41,883 bags of Urea fertilizer having market value of Rs 167 532 million and 44 957 bags of sugar having market value of Rs 224 785 million These operations during the last week have successfully foiled attempts to smuggle huge quantities of 86,840 bags of essential commodities worth Rs 392 317 million to Afghanistan which is a severe blow to the smuggling mafia

No one can cur tail powers of Parliament: Marriyum

ISLAMABAD S ta f f R e p o R t

Minister for Information and Broadcasting Marriyum Aurangzeb has stated that no one can curtail powers of the Parliament In a statement on Tuesday, she said parliament will go to any extent to protect its constitutional powers Marriyum Aurangzeb said the Judiciary is empowered to interpret the law and the constitution She said a transparent and fair system has been introduced by the recent legislation in the Parliament The Minister said this law was passed on the long-standing demand of the lawyers, bar councils and bar associations

Fatima Bhutto excoriates Sindh gov t for corruption

KARACHI S ta f f R e p o R t

Fatima Bhutto, granddaughter of former prime minister and Pakistan Peoples Party founder Zulfikar Ali Bhutto, has criticised the Sindh government, says in media reports In a statement on Twitter, Fatima Bhutto said: “I had posted the ghost school of Sajawal in February this ghost school was empty due to the corruption of the Sindh government Ms Bhutto wrote that bushes were growing in the school It s still empty and still a ghost school two months later even though an official came to visit after @BhuttoZulfikar and I wrote about it Nothing has been done What teachers are registered as working here? They’re taking govt salaries We should know their names She continued: And the corruption continues: this is the Sajawal taluka hospital – construction was started 10 years ago and left like this, skeletal Women delivering babies have to drive all the way to Larkana to get basic medical attention sometimes dying on the short journey This is corruption in practice- no schools no hospital You know where the money is going the whole country knows And generations will pay for it

Salaries of Pakistani diplomatic missions stopped again

ISLAMABAD S h a h z a D pa R ac h a T h e g o v e r n m e n t o f P a k i s t a n h a s a g a i n s t o p p e d t h e s a l a r i e s o f P a k i s t a n i d i p l o m a t s w o r k i n g i n d i ff e r e n t m i s s i o n s / e m b a s s i e s a b r o a d a m i d o n g o i n g f i s c a l c r u n c h S o u r c e s s a i d t h a t t h e g o v e r n m e n t d i d n o t d e p o s i t t h e s a l a r i e s t o P a k i s t a n i d i p l o m a t s f o r t h e l a s t t w o m o n t h s a d d i n g t h a t E v e n s o m e o f t h e d i p l o m a t s s p e n t t h e E i d - u l - F i t r w i t h o u t g e t t i n g t h e s a l a r y S c h o o l s m a y e x p e l c h i l d r e n o f d i p l o m a t i c s t a ff f o r n o n - p a y m e n t o f f e e s s o u r c e s a d d e d T h e F i n a n c e m i n i s t r y i n D e c e m b e r 2 0 2 2 c l a i m e d t h a t i t h a d r e l e a s e d f u n d s ( S a l a r i e s o f P a k i s t a n i d i p l o m a t s o r o t h e r s t a ff ) f o r t h e t h i r d q u a r t e r o f c u r r e n t f i s c a l y e a r h o w e v e r d i p l o m a t s a n d o t h e r s t a ff d i d n o t r e c e i v e M a r c h s a l a r i e s S o u r c e s s a i d t h a t F o r e i g n O ff i c e h a d t r a n s f e r r e d t h e s a l a r i e s f r o m i t s b u d g e t i n J a n u a r y o r F e b r u a r y t o C o m m e r c e a n d Tr a d e a s w e l l a s P r e s s A t t a c h e s w o r k i n g a b r o a d b u t n o w t h e M o FA a s k e d o ff i c e r s t o a s k r e l e v a n t m i n i s t r i e s t o r e l e a s e s a l a r i e s f r o m t h e i r b u d g e t S o u r c e s s a i d t h a t E v e r y d e p a r t m e n t i n c l u d i n g F o r e i g n O ff i c e a l l o c a t e s f u n d s f o r i t s e m p l o y e e s w o r k i n g a b r o a d d u r i n g t h e a n n u a l b u d g e t a n d t h e f o r e i g n o ff i c e o n t h e 1 s t o r 2 n d o f e v e r y m o n t h d e p o s i t s s a l a r y i n t o o ff i c e r s / s t a ff a c c o u n t s

s u s w o e s

iT was perhaps inevitable that the current census would become controversial, with both the PPP and the PQM (P) objecting that its supporters were being undercounted and that too deliberately it should not be forgotten that the whole purpose of the present census was because the same parties claimed the count was deliberately botched in the 2017 census That Census had been held after 17 years instead of 10 because of the same claims and they continued to press them in the Council of Common interests, and as a result, the results were not officially notified for several years Because of that the 2018 elections were held on the basis of fresh delimitations based on what were called the; provisional results of that census it seems that history may be repeated all over again, as this year s first ever digital census will be available before the next general election but the results not formally notified leaving the election Commission not knowing whether to hold fresh elections on the basis of old delimitations

The federal government has entered the debate with a decision not to postpone the count in those talukas which have shown a population growth falling within a benchmark, but to keep counting where the growth exceeded that benchmark There may be a statistical logic behind this but that would be to miss the point entirely A rather flat exercise, it should be ackowledg4d that the MQM (P) and the PPP have made it a battleground for their parties

This is right, as the census result not only determines the number of seats allocated to each provinces but also the boundaries of provincial seats: that effectively means their apportionment between the sindhi and Muhajir communities in principle, the ruling coalition should not have an interest because both MQM(P) and PPP are coalition parties but hammering out differences over the count would require sitting both parties down, and trying to dispel their objections in the fevered atmosphere of islamabad it is almost as if this problem is being left to fester with the objections to the census providing ammunition that might lead to a postponement of the national election, due by the end of this year The task of removing objections is not insurmountable At bottom what is involved is the simplest of arithmetic, not rocket science or the higher mathematics

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

Looks like Biden/Trump replay in 2024

Nothing much has changed

A2024 Biden-Trump presidential campaign rematch may not be the contest that most Americans want But in all likelihood it will be the contest they’ll get

President Joseph Biden s situation is complicated

Polls show that Democrats have a favorable attitude of the president and approve of his job performance

But, largely due to concerns about Biden s age, the polls also show that nearly one-half of his own party would like someone else to be their standard bearer in 2024 That might have posed a problem for the president s reelection except for four factors

First as Biden has had a successful and dramafree two and a half years in office, no serious Democrat is willing to challenge his reelection second, the most likely successor to Biden might be Vice President Kamala harris but her favorable ratings are so low that Democrats see Biden despite his age as a much safer bet in a general election contest against any Republican Third other Democrats who might have emerged as serious Biden alternatives all come from the same centrist wing of the party, meaning any challenge to the incumbent successful president would be based on personal not policy differences and would be frowned upon by the party establishment

The final factor that makes a challenge unlikely is the way the Democratic Party leadership has changed its presidential primary schedule to better suit Biden’s chances to win A few months ago, the Democratic National Committee the party’s governing body voted to end decades of iowa and New hampshire being the first states to hold contests in the election process, replacing them with south Carolina, which is now mandated to go first

Both iowa and New hampshire have long been viewed as problematic by the Democratic establishment These two states have frequently catapulted insurgent candidates into the national spotlight upsetting or making it more difficult for the establishment s favorites to coast to victory This is what the anti-Vietnam candidacy of eugene McCarthy did to Lyndon Johnson in 1972; what Ted Kennedy’s progressive challenge did to Carter in 1980; what the charismatic Barack Obama did to hilary Clinton in 2008; and what Bernie sanders progressive populist campaign almost did to Clinton in 2016

Strengthening Pakistan’s Aviation Safet y

Where

Aviation in itself is not inherently dangerous But to an even greater degree than the sea it is terribly unforgiving of any carelessness incapacity or neglect Captain A G Lamplugh

Th i s precisely encapsulates the gravity of aviation safety or lack thereof Pakistan’s aviation safety has long been a matter of debate due to its troubled safety record including recurring airline crashes however, it is encouraging to note that the international Civil Aviation Organization’s safety audit results for Pakistan’s aviation sector based on their last mission to the country in 2021 reflect the state’s commitment to addressing aviation safety concerns iCAO has also categorically recognised Pakistan s efforts at addressing aviation safety concerns in recent years, especially in terms of the pilot licensing system of the state Notwithstanding this, the audit results indicate that there are still some areas for improvement that need to be tackled through continued efforts Resolving these concerns remains paramount not only from a moral standpoint but also from an economic point of view, as investing in aviation safety is indispensable to exploiting its economic potential iCAO also conducts regular aviation safety audits of member countries through its Universal safety Oversight Audit Programme to ensure their safety oversight obligations are being met The programme assesses countries safety oversight capabilities in eight key areas, including ‘primary aviation legislation and civil aviation regulations’; ‘civil aviation organization’; ‘personnel licensing and training ; aircraft operations ; airworthiness

To increase aviationÊs economic contribution, Pakistan must continue to strengthen its aviation safety reputations by investing in all areas, including those where it has already manag ed to beat the global averag e

of aircraft ; aircraft accident and incident investigation’; ‘air navigation services’; and ‘aerodromes and ground aids ’ UsOAP’s most recent audit results for Pakistan present a mixed picture in four areas including aircraft operations airworthiness of aircraft aircraft accident and incident investigation , and aerodromes and ground aids , Pakistan managed to surpass the global average in fact, in ‘airworthiness’ Pakistan had a significantly high score of 94 5 percent against a global average of 83 2 percent The scores for airworthiness are based on the country s degree of adherence to safety standards in areas such as aircraft s engine and propeller design, structural design and construction, or equipment design The scores for ‘aerodromes and ground aids’ are based on factors such as ground facilities (e g runway safety areas) or airport maintenance; the scores for accident investigation are determined by the state s ability to investigate the causes of a serious incident or aircraft accident, and the parameter of operations assesses factors such as the type of aircraft, the crew’s operating skills or the level of sophistication of the equipment carried on the aircraft however Pakistan could not meet the global average in the other four areas including legislation and regulations , civil aviation organization , licensing and training , and air navigation services ’ The parameter of ‘legislation and regulations’ assesses a country’s aviation laws while the parameter of civil aviation organization (CAO) assesses the effectiveness and capability of the country s CAO system

Additionally, the scores for licensing and training’ are based on factors such as the qualifications, training, or experience of the technical personnel; and the scores for ‘air navigation services are based on the availability of the air traffic control units or flight information centres that provide air traffic information or services importantly, in legislation and regulations, Pakistan’s score of 50 percent was well below the global average of 76 4 percent; and in air navigation services its score of 43 1 percent was well

With iowa and New hampshire both of which handed Biden defeats in 2020 out of the way and replaced by south Carolina which Biden easily won in 2020 and proved to be a turning point in his campaign the party establishment feels confident that they have paved the way for a Biden repeat in 2024 even with these factors in Biden s favo4r his current polling numbers aren t strong in national matchups against a variety of Democratic opponents, Biden rarely breaks 40 percent While the Democrat rank and file may have reservations, their concerns have been overruled by their party’s establishment

The Trump story is almost the exact reverse As was the case in 2016 when Donald Trump won the Republican presidential nomination and went on to win the White house the GOP establishment appears uncomfortable with his 2024 bid to return to office

But their efforts to find an alternative are being upended by the powerful hold Trump continues to have over a substantial plurality of the Republican rank and file since Florida Governor Ron Desantis’ decisive reelection victory in November 2022 the GOP establishment have been hoping to elevate him as their standard bearer But not only has Desantis continued to lag in the polls, in the last two weeks more than one-half of Florida s Republican congressional delegation have publicly endorsed Trump s candidacy, with most of that state’s remaining members of Congress not yet endorsing anyone Republican elected officials are eager to support Trump simply because they fear the wrath of alienating both him and his fervent supporters Trump s base is firm in its attachment to him he can be indicted or exposed in any number of scandals financial, sexual, or otherwise, including inciting violent insurrectionary acts by his supporters but they continue to be with him condemning those who attack him whether it’s the media law enforcement or Democrats Trump s base will even strike out against other Republicans who oppose

A t t h i s p o i n t , 2 0 2 4

l o o k s l i k e a r e p l ay o f 2 0 2 0 ,

bu t w i t h a d i f fe r e n c e

B o t h c a n d i d a t e s a r e

o l d e r B i d e n h a s b e c o m e

m o r e c a u t i o u s a n d l e s s

g r e g a r i o u s t h a n h e w a s i n t h e p a s t .

him accusing them of traitorous behaviour Trump once famously said that he could shoot someone in public on New York City s 5th Avenue and still retain the support of “his people ” he is daily proving that continues to be the case Trump’s leadership is a result of not only his cult-like hold over his base into whose alienation and anger he has so successfully tapped but also his ruthless and relentless attacks against those who dare to challenge him And so, as Desantis star fades in part, as a direct result of Trump’s attacks and the fear other Republican elected officials have of crossing him though unlikely a few others may yet emerge as claimants to the throne But like 2016 though some of these aspirants may be heralded for a time as the new flavour of the month, they will be no luckier than Desantis At this point, there are only two scenarios that would prevent Trump from emerging as the Republican nominee: if he decides to step aside and cast his support for someone else (which is almost inconceivable) or if he is incapacitated and unable to run if in the unlikely event Trump were to lose what would be a bruising primary battle, the victor would emerge bloodied and without the support of many of Trump’s faithful followers And so at this point 2024 looks like a replay of 2020, but with a difference Both candidates are older Biden has become more cautious and less gregarious than he was in the past But he continues to appeal to a broad sector of the electorate with both his record and his working class Joe from scranton appeal Trump on the other hand is still harboring the delusional and dangerous notion that the last election was fraudulent and using that grudge to incite his faithful his behaviour will guarantee that 2024 will be even uglier and potentially more dangerous than the 2020 contest

The writer is President of the Arab American Institute

below the global average of 65 2 percent According to the UsAOP report the general highlights of the issues identified in the legislation area include the state’s’ lack of ability to establish comprehensive procedures to timely revise their primary aviation legislation or civil aviation regulations in accordance with the provision in the Annexes to the Chicago Convention; absence of an appropriate system for identifying and notifying the variances between the national regulations and practices and general standards and recommended practices; or issues with respect to establishing and implementing enforcement policies to ensure effective enforcement of the legislation and regulations among others Likewise major concerns with respect to air navigation services included the state s inability to ensure the maintenance and periodic review of flight procedures, smooth search and rescue services weak implementation of enforcement actions and formal surveillance programmes for air navigation service providers Pakistan s aviation sector has demonstrated great economic potential The international Air Transport Association (iATA) estimates that the country’s air transport sector, comprising the airlines and their supply chains supports s2 billion of the country’s GDP and the spending by foreign visitors supports another $1 3 billion resulting in a total contribution of one percent to the country s GDP By addressing the identified shortcomings, this sector has the potential to become economically stronger To increase aviation’s economic contribution Pakistan must continue to strengthen its aviation safety reputations by investing in all areas including those where it has already managed to beat the global average This can help boost the economy by expanding airlines customer base and tourism; prospects for securing more routes and destinations; avoiding the costs associated with accidents; and attracting investment in the country s aviation sector

Beyond the potential economic benefits of addressing these concerns, it is essential that we recognise the immeasurable value of human life and approach this issue with the utmost care and attention By prioritising safety in our aviation sector we not only safeguard the lives of our citizens and visitors but also demonstrate a commitment to our shared humanity and the highest moral ideals of progress and prosperity

The writer is a Research Assistant at the Centre for Aerospace & Security Studies (CASS) Islamabad Pakistan She can be reached at cass thinkers@casstt com

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

Maintaining justice

T h e responsibilities of a judge and of the judiciary at large have been under active discussion in society This reminds me of a tale from ancient Persian history that stresses the importance of justice and governance sisamnes was a corrupt royal judge known for accepting bribes and making decisions, favouring his clients it was discovered that he had taken a bribe in a court and passed an unfair judgment

When King Cambyses ii learned of the corruption, he decided to make an example of the man to deter other judges from indulging in similar acts as this would compromise their impartiality and the fairness of the proceedings

The king ordered to get sisamnes arrested so that he could be put on trial he was found guilty and was sentenced to a gruesome punishment

The king ordered that the judge s skin be peeled while keeping him alive, and then to use the skin to cover the seat of the judge’s chair in the courtroom The seat was for Otanes the son of sisamnes who was chosen to replace his father The king believed that by doing this he would remind all judges that justice should be delivered impartially and without corruption

The story of sisamnes has several inherent lessons One of the most common interpretations is that it serves as a cautionary tale against abuse of power and corruption it serves as a reminder that a judge must uphold the law and serve justice impartially without fear or favour Thus every judicial structure must be strict in nature and approach to honour the principle of natural justice

NAZIM KHAN KARACHI

Bolstering the image

W h i L e visiting federal or provincial secretariats one can feel the agony and misery of senior officials having a lot of research and practical experience under their belt but being unable to put it to good use They are often found heading ministries and departments that have no use of the technical knowledge they have acquired over the years

This happens because once they have spent some time understanding a subject and its technical aspects along with the currents and cross-currents of the ground reality they are transferred to some other ministry Government ministers also get changed either due to change of government or strategy or preferences

Most of the current politicians do not believe in idealism and critical thinking such people only care about their personal ego and always try to improve their rating on social media in such a scenario, those who run important ministries seem least interested in generating fresh ideas and theories for the betterment of the country and its teeming millions They prefer to pass on files and ministerial notes from lower staff to the higher like a post office without adding any intellectual input to the original draft They do this to save their skin and their image on social media

People sitting at the helm of affairs know little about government functions, but pretend as if they have command on every field of life, causing hurdles in routine functions Decisions taken about a nation s life and death without any consideration of the ground realities tend to backfire and such situations may only be handled and controlled by people who are truly capable, competent and committed The knowledgeable people prefer to keep themselves busy with routine work and all this while they keep waiting to get retired with name and reputation intact rather than facing the negative consequences of being on the wrong side of someone mighty The situation needs urgent attention before it gets too late

Zahra NiaZi

Strategic impor tance of the recent Indo-Bangladesh militar y diplomacy

De F e N C e cooperation between india and Bangladesh has made significant progress in the last few years it is depicted in the exchange of visits between the leaders of the two countries, as well as the conduct of training programmes joint exercises and humanitarian assistance and disaster relief (hADR) Cooperation between the two countries is extensive in all areas so defence and security are inevitable

Bangladesh is also showing interest in importing military hardware from india With india opening a $500 million credit line for defence procurement, Bangladesh aims to buy military equipment such as specialized vehicles Tejas light combat aircraft and Dhruv light helicopters Bangladesh also seeks indian assistance in maintaining Russian-origin equipment like Mi-17-iV helicopters, An-32 transport aircraft and MiG-29 fighters

While Bangladesh already buys protective gear like bulletproof jackets and helmets Bangladesh is india’s closest neighbour and a strong component of the indian Neighbourhood Policy in 2017 Bangladesh signed two defense agreements for joint exercises and training, and for specialist training and logistical support from india for Bangladesh Counter-terrorism is aanother area for cooperation it is essential to suppress the nexus of insurgents and drug lords in india’s Northeast Bangladesh has pledged to ensure that “no neighbouring country can use Bangladeshi soil for terrorist activities)

Bangladesh Army Chief Gen s M shafiuddin Ahmed, recently on a three-day visit to india, met indian counterpart Gen Manoj Pandey and discussed overall bilateral cooperation, and especially counter-terrorism General shafiuddin met Gen Pandey in New Delhi on

Thursday According to the indian Defence Ministry statement he was given a guard of honor at the south Block lawn he also met the other service chiefs and the Defence and Foreign secretaries

The indian Department of Defense Production and the Army Design Bureau also briefed General shafiuddin about the indian domestic defence production ecosystem An ‘implementation Arrangement’ was also signed between india s Centre for United Nations Peacekeeping and the Bangladesh institute of Peace support Operations Training for cooperation in UN peacekeeping operations and training between the two armies

General shafiuddin laid a wreath at the indian Air Force War Memorial More active participation of india and Bangladesh in the UN Peacekeeping Force was also discussed he was the reviewing officer of the passingout parade at the Officers Training Academy in Chennai india and Bangladesh share a historical legacy of cooperation and support during the 1971 Liberation War The army chief ’s visit most importantly comes at a time when the Bangladesh government has recently formally set out the indo-Pacific Outlook and Myanmar and Bangladesh are trying to resolve the Rohingya crisis with Chinese mediation The visit is apparently part of the outstanding bilateral defence relationship between Bangladesh and india Bangladesh can gain confidence from the indian government as india is an active member of the indo-Pacific Alliance Bangladesh on the other hand can counter China s predicament intelligently as it aims to engage structurally rather than militarily DefenCe and security are important components of indo-Bangladesh bilateral relations and their armed forces coordinate at various levels india can assist Bangladesh in achieving its visionary military plan Forces Goal 2030 it can help strengthen bilateral relations and reflect improved bilateral understanding in terms of defence relations between india and Bangladesh go back to 1971, when the indian Army fought alongside Bangladeshi freedom fighters Over time, the defence ties were eroded But since this government came to power there has been significant progress in defence cooperation Bangladesh is an important ally of india in south Asia

The two work together on issues such as climate change counter-terrorism and regional security The visit could strengthen bilateral defence ties Defence cooperation can strengthen bilateral relations Bangladesh and india must work together as reliable partners to resolve certain partnership issues india and Bangladesh have strengthened their defense ties through this visit General shafiuddin and General Pandey spoke via video chat early last year in a bid to improve bilateral defence cooperation They are also believed to have discussed how the geopolitical landscape is changing and how it will affect regional security

For a long time Bangladesh was reluctant to address india s security concerns primary among which was the presence of many insurgent groups in its northeastern region who enjoyed safe haven in Bangladesh and operated across the border india also believed that militant outfits with roots in or links to Pakistan were using Bangladesh as a transit point india has repeatedly urged Bangladesh to take action against such groups only for it to deny their

existence When sheikh hasina became PM in 2009 she vowed to crack down on groups active in Bangladesh that were against india s interests Bangladesh has helped arrest top rebel leaders, including Arvind Rajkhwa, chairman of the United Liberation Front of Assam, and Ranjan Daimari of the National Democratic Front of Bodoland This proved a turning point for bilateral relations

Currently india and Bangladesh are cooperating in various economic social scientific and technological fields in 2014, the two countries settled their maritime boundary dispute, in 2015 the land one Defecse ties have grown manifold since Bangladesh Army Chief Gen Moin Ahmed’s visit to india in 2008 The heads of their armed forces now visit each other regularly; The presidents of both countries who are the commanders-in-chief of their armed forces also exchanged visits Pranab Mukherjee of india in March 2013, his Bangladeshi counterpart Abdul hamid in December 2014 Ongoing discussions between the top leadership of the armed forces have helped to remove previous misconceptions on both sides india must take advantage of its cultural ties with Bangladesh and work to invite more officers and personnel for training Although currently, there are several travel exchanges among the staff, more steps can be taken to strengthen engagemen industry-to-industry discussions should be encouraged to facilitate trade relations in defence The views of the defence forces are considered a defining factor in indo-Bangladesh relations After all indian and Bangladeshi armies fought the liberation war jointly The increase in defence cooperation with india indicates the Bangladesh Army s interest in developing defence ties with india Bangladeshi security analysts observed that the importance of good relations with india is now widely understood This is not to say that years of mistrust and apprehension can be completely banished especially within the military Although india was sceptical about signing an MoU instead of a treaty, analysts say a comprehensive defence agreement may not gain acceptance easily but the MoU will create an opportunity to expand cooperation

The MOUs are protected by confidentiality clauses making a detailed analysis difficult They keep in mind the past present and future Moreover the MoU on Future Cooperation Framework implies that these discussions are being undertaken with a long-term perspective

Counter-terrorism cooperation is an important aspect of the relationship as both countries have been victims of terrorism and face increasing security threats To effectively counter thesm there is a need for greater coordination between the armed forces inter-agency coordination and cooperation, joint training and exercises, greater interaction and understanding Peace and tranquility in the

Bay of Bengal is an important aspect and both countries have important roles After demarcating maritime borders with india and Myanmar, Bangladesh acquires a large swath of land in the Gulf and has a major stake in maintaining law and order in the region

No major incidents of piracy have been recorded in the Gulf region (as in somalia) except for a few cases of petty robbery however, the region is vulnerable to such organized crime as human trafficking, and arms and drug smuggling Coordination between navies and coast guards will help address such challenges in this regard the cooperation agreement between the coast guards of the two countries has taken a step forward Another significant outcome of such cooperation would be the security of maritime trade The Gulf is a major trade route for coastal countries, especially for Bangladesh, as it provides exclusive access to the sea and most of its trade is through maritime routes search and rescue operations would also stand to benefit from such cooperation since the Gulf is vulnerable to natural disasters : These MoUs will strengthen cooperation between the two countries in the field of humanitarian Assistance and Disaster Relief (hADR) Frequent cyclones in the Gulf are a constant challenge demanding advanced hADR skills interaction provides opportunities to learn from each other s experiences while ensuring smooth and effective coordination in times of need Both india and Bangladesh are working to ensure prosperity They are among the world s fastest growing economies india ranks among the top 10 economies globally, while Bangladesh is an emerging economy Bangladesh has maintained a growth rate above six percent for over a decade Both countries strive to improve their economies and peaceful and friendly relations with neighbours are crucial india s $500-million credit for procurement of defence equipment, particularly communications and coast guard patrol boats, came into focus While the strategic objectives are obvious there are other considerations Bangladeshi companies can tap into the supply chain network of major equipment manufacturers Bangladesh can be a big market for indian defence products Due to the Make in india initiative, many multinational companies are setting up units in india and can become a major supplier of arms it would be convenient for Bangladesh to procure arms from its immediate neighbours This allows it to negotiate on issues such as technology transfer Ultimately this could help Bangladesh evolve from a buyer to a producer of high-end technology products

Any discussion of india-Bangladesh defence cooperation is incomplete without considering the Chinese factor China is Bangladesh’s strategic partner and its largest arms supplier indian security analysts however have been eyeing that relationship security observers in Bangladesh say the issue is more economic than strategic The government has adopted an Armed Forces Vision 2030 Bangladesh is also buying large quantities of weapons it is working to transform its navy into a three-dimensional force Therefore, submarines are considered a necessity Defense analysts however take a different view as they believe that Bangladesh faces little threat from other countries

The writer is a freelance columnist

A m e r i c a ’ s b a d b e t o n I n d i a

New D elhi won’t side with Washington against B eijing S h o u l d a m a j o r co n f l i c t b e t we e n Wa s h i n g to n a n d B e i j i n g e r u p t i n Ea s t A s i a o r t h e S o u t h C h i n a S e a , I n d i a wo u l d ce r t a i n l y wa nt t h e U n i te d St ate s to p re va i l B u t i t i s u n l i ke l y to e m b ro i l i t s e l f i n t h e f i g ht

New Delhi’s relative weakness compels it to avoid provoking Beijing

major combined operations against a capable adversary

FO R the past two decades, Washington has made an enormous bet in the indo-Pacific that treating india as a key partner will help the United states in its geopolitical rivalry with China

From George W Bush onward successive U s presidents have bolstered india s capabilities on the assumption that doing so automatically strengthens the forces that favor freedom in Asia

The administration of President Joe Biden has enthusiastically embraced this playbook in fact, it has taken it one step further: the administration has launched an ambitious new initiative to expand india s access to cutting-edge technologies further deepened defense cooperation, and made the Quad (Quadrilateral security Dialogue), which includes Australia, india, Japan, and the United states, a pillar of its regional strategy it has also overlooked india’s democratic erosion and its unhelpful foreign policy choices such as its refusal to condemn Moscow s ongoing aggression in Ukraine it has done all of this on the presumption that New Delhi will respond favorably when Washington calls in a favor during a regional crisis involving China

Washington’s current expectations of india are misplaced india’s significant weaknesses compared with China and its inescapable proximity to it guarantee that New Delhi will never involve itself in any U s confrontation with Beijing that does not directly threaten its own security india values cooperation with Washington for the tangible benefits it brings but does not believe that it must, in turn, materially support the United states in any crisis even one involving a common threat such as China

The fundamental problem is that the United states and india have divergent ambitions for their security partnership As it has done with allies across the globe Washington has sought to strengthen india s standing within the liberal international order and, when necessary, solicit its contributions toward coalition defense

Yet New Delhi sees things differently it does not harbor any innate allegiance toward preserving the liberal international order and retains an enduring aversion toward participating in mutual defense it seeks to acquire advanced technologies from the United states to bolster its own economic and military capabilities and thus facilitate its rise as a great power capable of balancing China independently but it does not presume that American assistance imposes any further obligations on itself

As the Biden administration proceeds to expand its investment in india, it should base its policies on a realistic assessment of indian strategy and not on any delusions of New Delhi becoming a comrade-in-arms during some future crisis with Beijing

FAST FRIENDS: For most of the Cold War india and the United states did not engage in any serious conversations on national defense, as New Delhi attempted to escape the entanglements of joining either the U s or the soviet bloc The two countries’ security relationship only flourished after Bush offered india a transformative civil nuclear agreement

Thanks to that breakthrough U s -indian security cooperation today is breathtaking in its intensity and scope

The first and most visible aspect is defense consultations

The two countries civilian leaders, as well as their bureaucracies, maintain a regular dialogue on a variety of topics including China policy india’s procurement of advanced U s military technologies maritime surveillance and undersea warfare These conversations vary in quality

and depth but are critical for reviewing strategic assessments defining the parameters of desired cooperation and devising tools for policy implementation As a result the United states and india work together in ways that would have been unimaginable during the Cold War For example, they cooperate to monitor China s economic and military activities throughout the wider indian Ocean region and have recently invested in mechanisms to share near-real-time information about shipping movements in the indo-Pacific region with other littoral states

A second area of success has been military-to-military collaboration, much of which takes place outside public view The programs for senior officer visits, bilateral or multilateral military exercises, and reciprocal military training have all expanded dramatically during the past two decades high-profile exercises most visibly exemplify the scale and diversity of this expanded relationship: the annual Malabar exercises which bring together the U s and indian navies, have now expanded to permanently include Japan and Australia; the Cope india exercises provide an opportunity for the U s and indian air forces to practice advanced air operations; and the Yudh Abhyas series involves the land forces in both command post and field training activities

Finally U s firms have enjoyed notable success in penetrating the indian defense market india s military has gone from having virtually no U s weapons in its inventory some two decades ago to now featuring American transport and maritime aircraft utility and combat helicopters and antiship missiles and artillery guns U s -indian defense trade which was negligible around the turn of the century, reached over $20 billion in 2020

But the era of major platform acquisitions from the United states has probably run its course U s companies remain contenders in several outstanding indian procurement programs but it seems unlikely that they will ever enjoy a dominant market share in india s defense imports

The problems are entirely structural For all of india s intensifying security threats, its defense procurement budget is still modest in comparison with the overall Western market The demands of economic development have prevented india’s elected governments from increasing defense expenditures in ways that might permit vastly expanded military acquisitions from the United states The cost of U s defense systems is generally higher than that of other suppliers because of their advanced technology, an advantage that is not always sufficiently attractive for india Finally, New Delhi’s demand that U s companies shift from selling equipment to producing it with local partners in india requiring the transfer of intellectual property often proves to be commercially unattractive given the small indian defense market

INDIA GOES IT ALONE: While U s -indian security cooperation has enjoyed marked success, the larger defense partnership still faces important challenges Both nations seek to leverage their deepening ties to limit China s assertiveness but there is still a significant divide in how they aim to accomplish that purpose

The U s goal in military-to-military cooperation is interoperability: the Pentagon wants to be able to integrate a foreign military in combined operations as part of coalition warfare india however rejects the idea that its armed forces will participate in any combined military operation outside of a UN umbrella Consequently it has resisted investing in meaningful operational integration especially with the U s armed forces, because it fears jeopardizing its political autonomy or signaling a shift toward a tight political alignment with Washington As a result, the bilateral military exercises may improve the tactical proficiency of the units involved but do not expand interoperability to the level that would be required in

india’s view of military cooperation which emphasizes nurturing diversified international ties represents a further challenge india treats military exercises more as political symbols than investments in increasing operational proficiency and, as a result, practices with numerous partners at varying levels of sophistication On the other hand the United states emphasizes relatively intense military exercises with a smaller set of counterparts india s priority has been to receive American assistance in building up its own national capabilities so it can deal with threats independently The two sides have come a long way on this by, for example, bolstering india’s intelligence capabilities about Chinese military activities along the himalayan border and in the indian Ocean region The existing arrangements for intelligence sharing are formally structured for reciprocity and New Delhi does share whatever it believes to be useful But because U s collection capabilities are so superior, the flow of usable information often ends up being one way

Under Prime Minister Narendra Modi, india has increasingly focused on defense industrial cooperation as the key driver of its security partnership with the United states its underlying objective is to secure technological autonomy: ever since its founding as a modern state india has sought to achieve mastery over all critical defense, dual-use, and civilian technologies and, toward that end, built up large public sector enterprises that were intended to become global leaders Because this dream still remains unrealized New Delhi has now prioritized Washington s support for its defense industrial ambitions in tandem with similar partnerships forged with France, israel, Russia, and other friendly states

For over a decade, Washington has attempted to help india improve its defense technology base, but these efforts have often proved futile During President Barack Obama s administration the two countries launched the Defense Trade and Technology initiative which aimed to promote technology exchange and the coproduction of defense systems indian officials visualized the initiative as enabling them to procure many advanced U s military technologies such as those related to jet engines surveillance and reconnaissance platforms and stealth capabilities so that they could be manufactured or codeveloped in india But Washington s hesitation about clearing such transfers was matched by U s defense firms reluctance to part with their intellectual property and make commercial investments for what were ultimately meager business opportunities

WASHINGTON S BIG BET: The Biden administration is now going to great lengths to reverse the failure of the Defense Trade and Technology initiative

Last year, it announced the initiative on Critical and emerging Technology, which aims to fundamentally transform cooperation between the two countries’ governments businesses and research entities pertaining to technology development

This endeavor encompasses a wide variety of fields including semiconductors space artificial intelligence next-generation telecommunications, high-performance computing, and quantum technologies, all of which have defense applications but are not restricted to them

For all its potential however the initiative on Critical and emerging Technology does not guarantee any specific outcomes The U s government can make or break the initiative as it controls the release of the licenses that many joint ventures will require Although the Biden administration seems inclined to be more liberal on this compared with its predecessors, only time will tell whether the initiative delivers on india’s aspirations for greater access to advanced U s technology in support of Modi s Make in india Make for World

drive, which aims to transform india into a major global manufacturing hub that could one day compete with if not supplant China as the workshop of the world

The bigger question however is whether Washington s generosity toward india will help accomplish its strategic aims During the Bush and Obama administrations, U s ambitions centered largely on helping build india’s power in order to prevent China from dominating Asia As U s -China relations steadily deteriorated during the Trump administration when sino-indian relations hit rock bottom as well Washington began to entertain the more expansive notion that its support for New Delhi would gradually induce india to play a greater military role in containing China’s growing power

There are reasons to believe it will not india has displayed a willingness to join the United states and its Quad partners in some areas of low politics such as vaccine distribution infrastructure investments and supply chain diversification, even as it insists that none of these initiatives are directed against China But on the most burdensome challenge facing Washington in the indoPacific securing meaningful military contributions to defeat any potential Chinese aggression india will likely refuse to play a role in situations where its own security is not directly threatened in such circumstances New Delhi may at best offer tacit support

Although China is clearly india’s most intimidating adversary, New Delhi still seeks to avoid doing anything that results in an irrevocable rupture with Beijing indian policymakers are acutely conscious of the stark disparity in Chinese and indian national power which will not be corrected any time soon New Delhi s relative weakness compels it to avoid provoking Beijing, as joining a U sled military campaign against it certainly would india also cannot escape its physical proximity to China The two countries share a long border so Beijing can threaten indian security in significant ways a capability that has only increased in recent years

Consequently, india s security partnership with the United states will remain fundamentally asymmetrical for a long time to come New Delhi desires American support in its own confrontation with China while at the same time intending to shy away from any U s -China confrontation that does not directly affect its own equities should a major conflict between Washington and Beijing erupt in east Asia or the south China sea, india would certainly want the United states to prevail But it is unlikely to embroil itself in the fight New Delhi’s deepening defense ties with Washington therefore must not be interpreted as driven by either strong support for the liberal international order or the desire to participate in collective defense against Chinese aggression Rather, the intensifying security relationship is conceived by indian policymakers as a means of bolstering india s own national defense capabilities but does not include any obligation to support the United states in other global crises even as this partnership has grown by leaps and bounds there remains an unbridgeable gap between the two countries given india s consistent desire to avoid becoming the junior partner or even a confederate of any great power The United states should certainly help india to the degree compatible with American interests But it should harbor no illusions that its support no matter how generous will entice india to join it in any military coalition against China The relationship with india is fundamentally unlike those that the United states enjoys with its allies The Biden administration should recognize this reality rather than try to alter it

ASHLEY J TELLIS is the Tata Chair for Strategic Affairs and a Senior Fellow at the Carnegie Endowment for International Peace

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THE United States will end its Covid-19 vaccination requirements for international travelers and federal workers on May 11 when the coronavirus public health emergency ends the White House said

In February, the US House of Representatives voted to lift the requirement that most foreign air travelers be vaccinated against Covid-19 one of the few remaining pandemic travel restrictions still in place

The Biden administration last June droped its requirement that people arriving in the US by air must test negative for

9,472 METERS

Covid-19 but kept in place Centers for Disease Control and Prevention (CDC) vaccination requirements for most foreign travelers

The rules barred Serbian tennis star Novak Djokovic from taking part in some US tournaments because he is not vaccinated against Covid-19, but from May 12 he could freely enter and play in major American tournaments like the US Open

T h e H o m e l a n d S e c u r i t y D e p a r t m e n t a l s o s a i d M o n d a y s t a r t i n g M a y 1 2 i t w i l l n o l o n g e r r e q u i r e n o n - U S t r a v e l e r s e n t e ri n g t h e U n i t e d S t a t e s v i a l a n d p o r t s o f e n t r y a n d f e r r i e s t o b e v a c c i n a t e d a g a i n s t C o v i d - 1 9 a n d p r o v i d e p r o o f o f v a c c i n at i o n u p o n r e q u e s t

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US claims Russia has lost 20,000 troops in fighting

WASHINGTON ag e n c e S

ag e n c i e S

A Chinese oil company has launched the drilling of Asia s deepest oil well on Monday in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region

The Yuejin 3-3 well designed to be as deep as 9 472 meters will be a significant breakthrough in ultra-deep oil and gas exploration which will help the country boost its crude oil production

Tarim Basin is the country s largest petroliferous basin, accounting for more than 60 percent of the nation’s onshore ultra-deep oil and gas resources

However it is also one of the most difficult areas to expore in China partly because its oil and gas reserves lie between 6 000 and 10 000 meters underground By contrast, one of the world s deepest oil well, Russia s Z44 goes over 12,000 meters into the ground

To overcome the extreme conditions of high temperature and high pressure at a depth over 9 000 meters Chinese energy conglomerate Sinopec has improved drilling technologies which puts the country among the few nations in the world capable of drilling 10 000meter-deep wells T h r o u g h b r a i n s t o r m i n g a n d i n n o v a t i o n , w e v e d e v e l o p e d s t a t e - o f - t h e - a r t t e c h n o l o g i e s i n d e s i g n i n g

IMF: Asia’s economy to grow 4.6% in 2023 on fresh impetus from China

CHINA ag e n c i e S

The International Monetary Fund (IMF) on Tuesday projected the Asia-Pacific region s economy to grow by 4 6 percent in 2023, from a 3 8-percent increase last year, according to its latest regional economic outlook report The region will contribute around 70 percent of global growth this year with China’s reopening providing fresh momentum the report said Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy, the IMF wrote in an overview of the report The IMF said global growth is poised to decelerate as rising interest rates and geopolitical conflict affect economic activity while banking strains in the United States and Europe have injected greater uncertainty into the economic landscape Meanwhile, it said China s economic recovery and India s economic growth have provided the main impetus for the region’s economic vitality Other emerging economies in the region are growing steadily though in some cases slightly less than last year The IMF warned of risks from persistent inflation saying that while inflation has eased it is still above targets in most countries

C A A r e t i r e d e m p l o y e e s ’ b o d y s e e k s p e n s i o n r a i s e

I S L A M A B A D : A m e e t i n g o f A l l P a k i s t a n C i v i l Av i a t i o n A u t h o r i t y ( C A A ) R e t i r e d E m p l o y e e s A ss o c i a t i o n s t r o n g l y c r i t i c i z e d t h e C A A’s M a n a g em e n t f o r n o t i n c r e a s i n g t h e P e n s i o n o f i t s r e t i r e d e m p l o y e e s T h e m e e t i n g d e t a i l e d d i s c u s s i o n s w e r e c a r r i e d o u t r e g a r d i n g d i f f i c u l t i e s b e i n g f a c e d b y

C A A s r e t i r e d e m p l o y e e s T h e y d e m a n d e d t h e

C A A s m a n a g e m e n t t o i n c r e a s e t h e i r p e n s i o n a t t h e s a m e r a t e a s t h e G o v t o f P a k i s t a n h a d i n c r e a s e d t h e p e n s i o n o f i t ’s r e t i r e d e m p l o y e e s i n A p r i l 2 0 2 2 a n d a l s o i n t h e 2 0 2 2 - 2 3 f e d e r a l b u d g e t S ta f f R e p o Rt

d r i l l i n g s y s t e m s , a s w e l l a s o p e r a t i n g a n d s u p p o r ti n g t h e m i n d e e p , c o m p l e x e n v i r o n m e n t , m a r k i n g b r e a k t h r o u g h s i n k e y t e c h n o l o g i e s , ” s a i d Wa n g L o n g , s e c r e t a r y o f t h e C o m m u n i s t P a r t y o f C h i n a ( C P C ) n o r t h w e s t e r n o i l f i e l d c o m m i t t e e o f S i n o p e c R e s e a r c h I n s t i t u t e o f P e t r o l e u m E n g i n e e r i n g D r i l l i n g t i m e h a s d r o p p e d f r o m 2 8 0 d a y s t h r e e

y e a r s a g o , t o a s l o w a s 9 7 d a y s n o w

Meanwhile, drilling accuracy has increased from 60 percent to over 90 percent,” Wang said The Yuejin 3-3 well is part of the Shendi-1 oil project There are 120 wells deeper than 8 000 meters in the Taklamakan Desert inside the basin Sinopac planned to finish the drilling in 170 days

Climate change breaking records while collec tive ac tion falls shor t: Sherr y Rehman

ISLAMABAD S ta f f R e p o R t

“As we approach the Global Stocktake at COP28 I see global records being broken by climate change while actions taken to match pledges fall short said the Federal Minister for Climate Change & Environmental Coordination Senator Sherry Rehman

“We’re in a race against time and gatherings like these are crucial in dispelling the growing climate cynicism that has taken hold across the world, particularly among the youth However, it s imperative that we move beyond talk and actually take action especially in the case of countries and big businesses that fail to align with global carbon budgets and our Paris Agreement goals, said the Minister

The Minister is representing Pakistan at the Petersberg Climate Dialogue in Berlin a high-level political discussion on climate cooperation and Global Stocktake ahead

of the COP28 in UAE “For our part Pakistan is aligned with the commitments of the Paris Agreement, and we look forward to a real change in the glacial pace of climate finance, adaptation and mitigation in our collective efforts as developing countries such as Pakistan are actually facing climate catastrophe but face significant obstacles in securing the necessary funding to meet their climate goals,” said the Minister while speaking to the media on the first day of the Ministerial dialogue Minister Rehman said While developed countries received 52% of climate finance in 2022, developing economies only received 48%, despite representing 80% of the world population This is particularly alarming as developing countries including Pakistan have limited access to international climate finance Pakistan requires $348 billion between 2022 and 2030, representing 10 7% of its cumulative GDP to meet its climate needs She elaborated that accord-

ing to the UNFCCC Standing Committee on Finance 78 developing countries that have submitted their NDCs require a staggering $6 trillion until 2030 to meet their financial requirements under the Paris Agreement

The Minister highlighted that a clear definition of climate finance is essential for transparency and accountability in the distribution and use of climate finance

She also stressed that the international financial architecture must be restructured to make climate finance more accessible to developing nations The slogan that we should leave no one behind will become meaningless if accessing climate finance remains out of reach for developing and vulnerable countries Most of the developing world is actually being left behind while the gulf between ambitions, pledges and actions continues to grow, bolstered with ambitious language that has less and less to do with climate facts on the ground

More than 20,000 Russian troops have died and another 80,000 were wounded in five months of fighting in eastern Ukraine particularly in Bakhmut a White House official said “We estimate that Russia has suffered more than 100 000 casualties including over 20 000 killed in action National Security Council spokesman John Kirby told reporters Russia s attempt at an offensive in the Donbass, largely through Bakhmut, has failed Russia has been unable to seize any really strategically significant territory ” Kirby said Kirby citing newly declassified US intelligence said that about half of those killed were soldiers recruited by the private military company Wagner, which draws much of its ranks from prison populations in Russia

Palestinian hunger striker Khader Adnan dies in Israeli prison

TEL AVIV R e u t e R S

Khader Adnan who was affiliated with the Palestinian Islamic Jihad group, died in an Israeli prison on Tuesday after an 87-day hunger strike, Israeli prison authorities said Israel said Adnan “refused to undergo medical tests and receive medical treatment” and was found unconscious in his cell early on Tuesday morning Our fight is continuing and the enemy will realise once again that its crimes will not pass without a response Resistance will continue by all might and determination,” Islamic Jihad said in a statement “Khader Adnan has been executed in cold blood ” WAED Prisoners Association in Gaza told Reuters in response Adnan 45 originally from the occupied city of Jenin was a known Islamic Jihad figure in the West Bank, which was annexed by Israel in a 1967 war Like Hamas, Islamic Jihad opposes peace deals between the Palestinians and Israel According to the Palestinian Prisoners Association Adnan had been detained by Israel 12 times spending around eight years in prison mostly under administrative detention

S A P M Ta r a r u r g e s t o i n c l u d e s e v e n s e n i o r j u d g e s i n b e n c h h e a r i n g S C

I S L A M A B A D S ta f f R e p o Rt S p e c i a l A s s i s t a n t t o t h e P r i m e M i n i s t e r ( S A P M ) o n I n t e r i o r A t t a u l l a h Ta r a r o n Tu e s d a y u rg e d t h e S u p r e m e C o u r t t o i n c l u d e s e v e n s e n i o r m o s t j u d g e s o f t h e a p e x c o u r t i n t h e b e n c h h e a r i n g S u p r e m e C o u r t ( P r a c t i c e a n d P r o c e d u r e ) b i l l c a s e Addressing a press conference along with Special Assistant to the Prime Minister (SAPM) Malik Muhammad Ahmad Khan Tarar said that the apex court stayed the Supreme Court (Practice and Procedure) which had not become a law yet This was a question mark on the powers of Parliament, he added Attaullah Tarar said that according to the Constitution legislature and judiciary had separate roles

‘Godfather of AI’ quits Google to warn of the tech’s dangers

SAN FRANCISCO a f p

A computer scientist often dubbed the godfather of artificial intelligence has quit his job at Google to speak out about the dangers of the technology US media reported Monday Geoffrey Hinton who created a foundation technology for AI systems told The New York Times that advancements made in the field posed profound risks to society and humanity”

“Look at how it was five years ago and how it is now he was quoted as saying in the piece which was published on Monday Take the difference and propagate it forwards That’s scary ” Hinton said that competition between tech giants was pushing companies to release new AI technologies at dangerous speeds risking jobs and spreading misinformation

It is hard to see how you can prevent the bad actors from using it for bad things,” he told the Times I n 2 0 2 2 G o o g l e a n d O p e n A I t h e s t a r t - u p b e h i n d t h e p o p u l a r A I c h a t b o t C h a t G P T s t a r t e d b u i l d i n g s y s t e m s u s i n g m u c h l a rg e r a m o u n t s o f d a t a t h a n b e f o r e

Hinton told the Times he believed that these systems were eclipsing human intelligence in some ways because of the amount of data they were analysing “ M a y b e w h a t i s g o i n g o n i n t h e s e s y s t e m s i s a c t u a l l y a l o t b e t t e r t h a n w h a t i s g o i n g o n i n t h e b r a i n h e t o l d

t h e p a p e r While AI has been used to support human workers, the rapid expansion of chatbots like ChatGPT could put jobs at risk AI “takes away the drudge work” but “might take away more than that” he told the Times

AI telling the Times that the average person will not be able to know

what is true anymore Hinton notified Google of his resig-

An open letter, signed by more than 1 000 people including Musk and Apple co-founder Steve Wozniak was prompted by the release of GPT-4 a much more powerful version of the technology used by ChatGPT Hinton did not sign that letter at the time, but told The New York Times that scientists should not “scale this up more until they have understood whether they can control it

E U , U S WA R N M A L AY S I A O F S E C U R I T Y R I S K I N H U AW E I ’ S B I D F O R 5 G R O L E : F T

government having previously dismissed security concerns raised by the United States

“Senior officials in Washington agree with my view that upending the existing model would undermine the competitiveness of new industries, stall 5G growth in Malaysia, and harm Malaysia’s business-friendly image internationally,” U S ambassador to Malaysia Brian McFeeters wrote in one of the letters

Sports activities can play positive role to build mental and physical health: Bhandara

R a w a l p I N d I: Chief Executive Murree Brewery Company Isphanyar Bhandara says that sports always help to maintain a healthy lifestyle of the youth In addition to developing physical health, these kinds of activities also help to build their character These activities teach the lessons of courage, passion, confidence, and tolerance which can help us to develop our inner selves

He also added that youth with good health can also play a pivotal role in the country’s development

While talking at the event he also said that our players are assets of the nation and they can help us in promoting sports for the formation of a healthy society He was talking to the reporters after the distribution of prizes at the 119th M P Bhandara Memorial Polo Cup Final in Rawalpindi

The tournament was played between three teams

The final match was played between (ASC and Security2000) In the end Team ASC scored eight goals and Security2000 scored two goals The event was graced by the presence of the Ambassadors of eight different countries The dignitaries appreciated the efforts of Murree Brewery in promoting sports activities and developing the sports culture in the region M P Bhandara Memorial Polo tournament was held in 1904 and continues to be a prominent sports event P R

Pakistan, C hina hold first ac ademic conference on smar t disaster prevention

bEIJING: The China-Pakistan Belt and Road joint laboratory on smart disaster prevention of major infrastructures successfully held its first academic committee conference in Nanjing, China

The conference aimed to promote modern times spirit, exhibit research progress, and academic achievements of technological innovation talents in civil engineering architecture water conservancy and transportation

Counselor of Science and Technology at the Embassy of Pakistan in China, Khan Muhammad Wazir, revealed the conference would enhance the academic exchange of leading talents, ideas collision, disciplinary development, and talent cultivation of innovative talents in the civil engineering and water transportation field to serve national technological innovation and high-quality economic development

The Belt and Road joint laboratory is the highestlevel platform for national scientific and technological cooperation and innovation with foreign countries The fruitful sharing discussion and exchange during the academic committee meeting will promote the laboratory s construction and development, as well as enhance cooperation in the intelligent disaster prevention field between China and the Belt and Road countries, such as Pakistan The joint laboratory can become a seed of China-Pakistan s scientific and technological cooperation harvesting practical results and contributing to the high-quality development of China-Pakistan bilateral relations S TA F F R E P O R

L ahore leads A sia in eco -friendly road initiative with ‘Blue Roads

laHORE: The historical city of Lahore is set to make history as the first city in Pakistan as well as the continent of Asia to introduce environmentfriendly roads called the Blue Road concept

The initiative, led by the Punjab Central Business District Development Authority (PCBDDA), also known as the Central Business District (CBD), aims to modernise the city’s infrastructure and enhance the quality of life for its residents

The Blue Roads are designed to provide a sustainable alternative to traditional asphalt roads by incorporating heat observation and energyconserving features to reduce pollution and promote a healthier environment

The innovative roads feature a specialized coating that reflects sunlight reducing the amount of heat absorbed by the road surface The reflective coating also improves visibility for drivers at night thereby improving road safety

Officials have said the CBD CEO, Imran Amin, has directed the timely execution of the project on the instructions of caretaker chief minister Mohsin Naqvi The project is expected to benefit the community and create a greener environment for Lahore s residents Amin expressed his excitement about the initiative and said the project would not only bring environmental benefits but also contribute to their vision of creating a modern, sustainable, and inclusive

in Punjab

a 11 billion ringgit ($2 5 billion) tender to build a state-owned 5G network the report said citing letters seen by FT Malaysia s 5G roll-out has seen repeated setbacks because of industry

concerns over pricing and transparency as well as worries that a single government-run network would result in a na-

tionalised monopoly Huawei had long been seen as the frontrunner for the contract, with the

PARC holds National Dialogue on agricultural research

ISLAMABAD S TA F F R E P O R T

A three-day National Dialogue on Agricultural Research started at the National Agricultural Research Centre Islamabad Speaking at the inaugural session the Honorable Minister of National Food Security and Research, Chaudhary Tariq Bashir Cheema, highlighted the government s commitment to promoting the agricultural sector and improving the livelihoods of farmers The minister emphasized the importance of research and innovation in achieving sustainable agricultural development and achieving the target of self-sufficiency in edible oil production The minister advised the Secretary Ministry of National Food Security and Research to pinpoint governance and financial issues hindering agriculture research

Organized by Pakistan Agricultural Research Council the Dialogue shall witness eminent agricultural scientists and policy makers from all over the country as well as international organizations to define futuristic pathways for agricultural research The event aims to explore challenges recent trends and novel technological in-

novations in the field under the theme of ''Harnessing Agriculture

Potential to Boost Pakistan s Economy The inaugural session was attended by national and international stakeholders in agriculture The Dialogue has been planned to provide platform for researchers, policymakers, and practitioners to discuss and deliberate on the latest developments and innovations in agricultural research and plan for future research accordingly The stakeholders will be making efforts to identify strategies and solutions to overcome the challenges faced by the agricultural sector and pave the way for sustainable development The National Dialogue on Agricultural Research will cover a range of topics, including crop improvement, livestock and fisheries, natural resource management food security and rural development The event will feature interactive sessions panel discussions and presentations by renowned experts and sci-

In line with directions of the Chairman Capital Development Authority Captain Noor ul Amin Mengal massive operations againt illegal constructions and encroachments keep Islamabad free from illegal constructions and encroachments in Park Enclave Phase III Enforcement Directorate Land and Rehabilitation Islamabad Administration and Islamabad Police are participating in this operation

According to details 115 rooms 35 kitchens 32 washrooms, 5 bramday and 33 illegally constructed boundary walls constructed on state land were demolished with the help of heavy machinery Four people were also arrested for obstructing the opera-

i

A high-level meeting was held under the joint chair of Chief Secretary Punjab and Chief Census Commissioner Dr Naeem uz Zafar to devise a strategy for Verification/ Coverage of leftover areas to ensure complete census coverage in Punjab till 15th May, 2023 in mutual consultation with Pakistan Bureau of Statistics (PBS) and the Punjab Administration Chief Secretary Punjab appreciated the Census work and deep analysis by the Pakistan Bureau of Statistics, which was extremely helpful in rectifying issues of under-coverage assessing problematic blocks through geotagged locations Pakistan Bureau of Statistics (PBS) presented the reasons for low coverage, mined through the Digital Systems, in detail and gave recommendations for mitigation to achieve full coverage Block-wise lists of one member, two members and nonliving units were shared with Punjab Administration for a targeted approach Chief Census Commissioner Dr Naeem uz Zafar as-

entists in the field of agriculture

The Secretary, Ministry of National Food Security and Research emphasized to improve governance through establishment of a well-coordinated system among different institutions and rationalize existing resources to improve efficiency of the research system

Chairman Pakistan Agricultural Research Council (PARC) welcomed the distinguished guests He highlighted importance of research to deal with the food security challenge of the country He shared PARC led coordinated efforts of National Agricultural Research System like; germplasm sharing variety development and release – more than 700 varieties Agricultural Linkages Program –throughout NARS He further emphasized National Agricultural Research System needs autonomy to enhance collaboration with international partners in technology joint projects exchange programs and capacity building

Enclave Phase

tion The objective of the operation is to eliminate encroachment from the acquired land for the sectors

On this occasion, Chairman Capital Development Authority Captain Noor ul Amin Mengal said that the encroachments should be removed and the remaining development works of Park Enclave should be completed as soon as possible He further said that after the elimination of encroachments in Park Enclave phase three the encroachments from phase one and two will be eliminated

It is pertinent to mention here that the operation started to eliminate the encroachment of the acquired land for the sectors will remain continue Member Estates are supervising the operation in line with the directions of Chairman CDA Captain Noor ul Amin Mengal

Co

i s s i o n e r

Allowing untrusted suppliers in any part of the network also subjects Malaysia s infrastructure to national security risks ” Huawei, the U S embassy in Kuala Lumpur the EU delegation to Malaysia and the Malaysian Ministry of Communications and Digital did not immediately respond to a Reuters request for comment

NUST students display mural

ar t on a huge c anvas

I s l a m a b a d: In a stirring display of artistic prowess, creativity and teamwork, NUST Marketing & Communications joined by a spirited team of students has successfully unveiled the first-ever wall mural at NUST on as large a canvas as the rear of Power Zone one of the vast sports and fitness complexes at the university s Islamabad campus It has taken months of unparalleled commitment and perseverance for the team to realise the mural that features a mesmerising blend of colours, shapes, and designs From bold and vibrant brushstrokes to delicate and intricate patterns the mural is a true testament to the power of collaboration and imagination and a reminder of the incredible things that can happen when people work together to achieve a common goal P R

S trategy devised to ensure complete coverage of Census in Islamabad till 15th May

In pursuance of directions of Mr Ahsan Iqbal, Minister PD & SI, to complete census exercise on 15th May, 2023 for timely handing over data to Election Commission of Pakistan PBS higher management has decided to hold series of meetings starting with Chief Commissioner Islamabad on 1st May, 2023 Such meetings will also be conducted with Provincial Government of Punjab on 2nd May, 2023, KP on 3rd May, 2023, Sindh on 4th May, 2023 and Balochistan on 5th May 2023 A meeting between Pakistan Bureau of Statistics (PBS) higher management and ICT administration under the chair of Chief Census Commissioner, Dr Naeem uz Zafar, to determine the reasons (gaps) of low coverage in Islamabad and devise a targeted strategy to ensure complete coverage till 15th May, 2023 was held in National Census Coordination Centre (N3C) PBS head office on 1st May 2023

The reasons of low coverage determined through data analysis and ground realities were discussed in detail with ICT administration As ICT Administration is fully responsible for completion of Census Field Work in Islamabad The problems of negative growth rate specially in Islamabad Urban are lack of security of Enumerators A P P

Emirates boarding pass unlocks hundreds of offers in D ubai this summer

I s l a m a b a d: Emirates has today announced the return of its popular My Emirates Pass Starting from 1st May 2023 to 30th September 2023 My Emirates Summer Pass enables customers to get even more from their trip with five months of exclusive offers at hundreds of locations in Dubai and the UAE Emirates customers flying to or through Dubai can simply show their boarding pass and a valid form of identification to hundreds of retail leisure and dining outlets as well as famous attractions and luxury spas, to enjoy fantastic discounts throughout Dubai and the UAE

To access the offers, customers can simply show their printed or mobile Emirates boarding pass at participating venues along with a valid form of identification

If you checked in online and downloaded your mobile boarding pass to the Emirates App or Wallet, remember to screenshot it to present at participating venues as it will disappear from your apps once you’ve landed A P P

sured full support of PBS in identifying further gaps and provision of desired information In turn, Chief Commissioner Punjab assured his full cooperation in filling the gaps identified by PBS and completing the important National task of the Census within the stipulated timelines District Commissioners (DCs) and Assistant Commissioners (ACs) have a key role conducting field visits for effective vigilance and monitoring and will convene meetings on a daily basis and share daily progress reports with the Chief Census Commissioner • Strict action will be taken in case of misreporting by

Field staff In pursuance of directions of Mr Ahsan Iqbal Minister PD & SI, to complete the census exercise on 15th May, 2023 for timely handing over data to the Election Commission of Pakistan PBS higher management is holding a series of meetings with Provincial and ICT Administration starting with Chief Commissioner Islamabad which was held on 1st May, 2023 Second meeting was held with the Punjab administration on 2nd May 2023 Such meetings will also be conducted with the Provincial Governments of KP on 3rd May, 2023, Sindh on 4th May, 2023 and Balochistan on 5th May, 2023 respectively

CDA's anti- encroachment operation in Park

III, hundreds of struc tures demolished, 4 people arrested

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s t r ate g i ze fo r ve r i fi c at i o n o f l e f tove r a re a s i n Pu n j a b

A G H A K H A N F U N D F O R E C O N O M I C

D E V E LO P M E N T E Y E S M O R E S TA K E S I N H B L

AGENCY TO USE NON-REPATRIATED DIVIDENDS TO BUY ADDITIONAL SHARES

I

TH E Aga Khan Fund for Economic Development (AKFED), the parent company of Habib Bank Limited (HBL) has expressed its interest in acquiring additional shares of HBL from the open market using the accumulated dividends that have not been repatriated amounting to Rs 3 5 billion This information was shared in a Pakistan Stock Exchange (PSX) filing on Tuesday

The filing further mentioned that the purchase of HBL shares would only take place in accordance with applicable regulatory approvals

The move comes as the State Bank of Pakistan (SBP) has disallowed the repatriation of dividends due to low levels of foreign exchange reserves Nonetheless, the regulator allows the funds to be utilised within Pakistan to avoid a net outflow of foreign exchange reserves

In the week ending April 20, 2023, foreign exchange reserves held by the State Bank of Pakistan stood at $4 46

billion Meanwhile the net foreign exchange reserves held by commercial banks stood at $5 56 billion, bringing the total liquid foreign exchange reserves to $10 02 billion Pakistan s economic balance is on a tightrope as the State Bank’s foreign exchange reserves plummet to a critical level leaving only enough to cover a month’s worth of imports

How are companies retorting?

Pakistan s generous foreign investment policy promises full profit repatriation of 100% which made it a lucrative market for multinational companies

However, lately, its implementation has fallen short of the mark Multinational companies operating in the country are grappling with over $1 billion in unpaid dividends as Pakistan face constraints on dollar outflows The situation is dire with banks now even declining to issue letters of credit for essential imports like food and energy The country s foreign exchange reserves have dwindled to a multiyear low, leading the government to put a stop to large-scale dollar outflows, including those by overseas investors

Ehsan Malik CEO of Pakistan

NEPRA concludes hearing on KE’s tariff petition for power plants’ remaining life

Business Council (PBC) told Dawn that members of the pan-industry advocacy group have stopped declaring dividends to reduce the pressure on dollar outflows According to Malik, these multinationals, as well as their parent companies, have “stamina and perseverance” to endure such pressure “Many (of them) have been here since 1947 and have learned to cope with the volatility uncertainty complexity and ambiguity of Pakistan Mr Malik said However, investors are not happy A group representing international investors held a meeting with the SBP governor at the end of December to resolve, among other issues, the matter of pending dividends During the meeting the investors urged the SBP to allow the repatriation of smaller dividends from the last quarter and to lock in the dollar value of pending dividends to avoid exchange rate losses Given these challenges and full dividend repatriation not in sight any time soon, AKFED retorted to acquiring more stakes in HBL About AKFED AKFED is a for-profit international

development agency that seeks to create economic capacity and opportunity in the developing world It is headquartered in Switzerland AKFED operates as a network of affiliates, with over 90 separate project companies employing over 55,000 people In 2021, it had group revenues of approximately US$ 4 billion AKFED is active in 18 countries in the developing world including Afghanistan Burkina Faso Burundi Côte d Ivoire the Democratic Republic of the Congo, India, Kenya, the Kyrgyz Republic, Madagascar, Mauritius, Mozambique, Pakistan, Rwanda, Senegal, South Africa, Tajikistan, Tanzania, and Uganda AKFED stakes in HBL AKFED currently owns a majority stake in HBL amounting to 51% of the shareholding or 748 million shares This new development is expected to add approximately 45 million more shares of HBL to the portfolio of AKFED, which would bring its stake to around 54% In the aftermath of this announcement, the share price of HBL increased by Rs 5 43 from Rs 73 90 to Rs 77 94, an increase of 7 5% on the PSX

OGRA increases LPG price again

The Oil and Gas Regulatory Authority (OGRA) has jacked up the price of Liquefied Petroleum Gas (LPG) by Rs 5 per Kilogram for the month of May 2023

According to the latest OGRA notification for the month of May, the price of LPG has been increased by Rs 5 per kg, while the domestic and commercial cylinders have gone up by Rs 58 and Rs 222 respectively The new official price of LPG per kg will now be Rs 234 as opposed to the earlier price of Rs 229 Similarly, the new price of a

domestic cylinder will be Rs 2760, while a commercial cylinder will cost Rs 10,619 during the on-going month of May T h e i n c r e a s e i n L P G p r i c e s h a s s p a r k e d o u t r a g e a m o n g t h e p u b l i c w h o a r e a l r e a d y s t r u gg l i n g w i t h t h e i m p a c t o f i n f l at i o n a n d r i s i n g c o s t s o f l i v i n g M a n y h a v e c r i t i c i z e d t h e g o ve r n m e n t s p o l i c i e s , w h i c h t h e y a rg u e h a v e a d v e r s e l y a ff e c t e d t h e L P G i n d u s t r y

The Chairman of the LPG Industries Association Pakistan Irfan Khokhar

PM for strict action against wheat, sugar, urea smugglers

ISLAMABAD

S TA F F R E P O R T

Prime Minister Shehbaz Sharif on Tuesday directed the authorities concerned to take strict action against the smugglers of wheat sugar and Urea adversely impacting Pakistan s foreign remittances and usurping the right of its people

The prime minister, who chaired a meeting to review the measures to curb the smuggling of the said commodities, said he would not rest until the country got rid of the menace of smuggling

He said he would never allow some black sheep to usurp the country’s foreign remittances and the right of its people He said due to Allah s blessing and the government s efforts Pakistan had got a bumper wheat crop breaking the record of the last ten years

He said the people of Pakistan had all the rights over the produce achieved consequent to the farmers hard work and the government s efforts, despite the heavy rains and floods

The prime minister reiterated that he would never allow the smugglers to create problems for the people

He said the government was also carrying out plans to achieve even more wheat production by next year He said the government had also started implementing a comprehensive plan to ensure an uninterrupted supply of Urea to the farmers for the next crop He resolved that the government would make all-out efforts to make Pakistan reemerge as a wheat exporter country

that adequate supply is readily available to meet demand

In March, NEPRA held a hearing on K-Electric’s PKR 484 billion investment plan in transmission and distribution until FY30 and the company has filed for a non-exclusive distribution licence

Additionally KE has shared a Power Acquisition Programme outlining the addition of up to 2200 MW of electricity by FY30, with a majority of the upcoming addition based on renewable energy or indigenous sources

Overall, the public hearing on KE’s Generation Tariff Petition marks a significant step towards achieving the company’s vision to have 30% supply in its energy mix from renewables by 2030 enabling access to affordable power for all

ISPR: Securit y forces kill three militants, arrest seven in KP

PESHAWAR: The security forces acting on intelligence raided two hideouts of militants along the border with Afghanistan, triggering intense shootouts that left three insurgents dead, the InterServices Public Relations (ISPR) said late Sunday

Two militants were also wounded in the nearsimultaneous raids launched in Dera Ismail Khan a district in Khyber Pakhtunkhwa bordering Afghanistan the statement said

It said the security forces in a separate raid in Miran Shah town

The United States Commission of International Religious Freedom (USCIRF) has in its latest report highlighted how Pakistan s blasphemy laws have enabled under Shahbaz Sharif and encouraged radical groups to operate with impunity openly targeting religious minorities

The report accused the government of the Pakistan Democratic Movement (PDM) coalition of weaponising the blasphemy laws against former prime minister Imran Khan and members of his Pakistan Tehreek-i-Insaf (PTI) party

The report noted that “radical Islamist influence” continued to grow under Sharif including through armed groups political factions and individuals many of whom used rhetoric disinformation, or direct violence targeting religious minorities

Washington further observed that the far-right Tehreek-e-Labbaik Pakistan (TLP) party gained popularity using blasphemy laws

as its main rallying cry “Death to blasphemers! Death to blasphemers! is a common chant of the group s supporters at its rallies

The report noted that sections 295 and 298 of the Pakistan Penal Code (PPC) criminalise acts and speech that insult the religion or defile the Quran, the prophet, places of worship or religious symbols However these provisions are often vague and subject to abuse with false accusations frequently levied against political opponents Those accused of blasphemy face grave consequences, including violent attacks, imprisonment without adequate bail provisions, and even the death penalty It’s, however, worth noting that Pak-

country must sell LPG at the price fixed by OGRA said Irfan Khokhar Chairman LPG Industries Association Pakistan

The prime minister also formed a steering committee under him to curb the smuggling Prime Minister Shehbaz directed Interior Minister Rana Sanaullah to personally visit Khyber Pakhtunkhwa and Balochistan to meet the provincial authorities and submit a report

He said the officials involved in the smuggling or showing negligence would be removed and departmental proceedings would be initiated against them He also instructed to confiscate the goods being smuggled and hold proper investigation to trace out the real culprits

istan has not executed any individual on blasphemy charges although this in no way mitigates the severity of the situation

In January 2023 after the reporting period the National Assembly passed a draft law that would increase the penalties for certain blasphemy cases to life imprisonment while eliminating their eligibility for bail

In light of these religious violations the commission recommended that Washington remove waivers that allow Pakistan to avoid consequences for religious violations

It also urged the US government to enter into a binding agreement under the International Religious Freedom Act with Islamabad encouraging substantial steps to address religious freedom violations with benchmarks

Furthermore the USCIRF suggested that sanctions should be imposed on government agencies and officials responsible for severe violations of religious freedom by freezing their assets and/or barring their entry into the United States

He also called for increasing the number of antismuggling courts and building their capacity to cope with the menace besides ensuring early hearings and strict punishment to the culprits The prime minister also asked for taking to task all the mill owners dealers and warehouse owners involved in the smuggling He also asked SUPARCO to extend support for monitoring the smuggling activities through satellite

He lauded the efforts of the law enforcement agencies for curbing the smuggling The meeting was briefed in detail about the anti-smuggling efforts on the district and provincial borders

It was told that the number of joint check posts of the Federal Board of Revenue (FBR) and law and enforcement agencies (LEAs) in Balochistan s bordering districts had been increased to 10 besides the regular joint patrolling being carried out there

The meeting was told that during the last few weeks, around 6,000 tons of smuggling goods were recovered from Khuzdar Moreover, the smuggling goods weighing 4 342 tons were confiscated just during the last week from convoys of trucks or warehouses It was also told that on a tip-off by the intelligence institutions the officials facilitating the smuggling were removed and replaced by the reputable ones

The prime minister also lauded the efforts of the LEAs and intelligence officials for curbing the smuggling

The meeting was attended by federal ministers Rana Sanaullah, Syed Murtaza Mahmood Tariq Bashir Cheema Advisor Ahad Cheema heads of the intelligence agencies and other relevant officers

UN says Taliban envoy can meet Pakistan, China ministers next week

UNITED NATIONS

R E U T E R S

A UN Security Council committee on Monday agreed to allow the Taliban administration’s foreign minister Amir Khan Muttaqi to travel to Pakistan from Afghanistan next week to meet with the foreign ministers of Pakistan and China diplomats said Muttaqi has long been subjected to a travel ban asset freeze and arms embargo under Security Council sanctions According to a letter to the 15-member Security Council Taliban sanctions committee, Pakistan s UN

mission requested an exemption for Muttaqi was to travel between May 6-9 for a meeting with the foreign ministers of Pakistan and China It did not say what the ministers would discuss It said Pakistan would cover all costs associated with Muttaqi’s trip Chinese and Pakistani officials have both said in the past that they would welcome Taliban-led Afghanistan into the multibillion-dollar China-Pakistan Economic Corridor (CPEC) infrastructure project part of the Belt and Road Initiative Afghanistan sits as a key geographical trade and transit route between South and Central Asia and has billions of dollars of untapped mineral re-

sources

The Taliban seized power in August 2021 as US-led forces withdrew after 20 years of war

The Security Council committee allowed Muttaqi to travel to Uzbekistan last month for a meeting of the foreign ministers of neighbouring countries of Afghanistan to discuss urgent peace, security, and stability matters

UN Secretary-General Antonio Guterres began a two-day meeting on Monday in Doha with special envoys on Afghanistan from various countries that aims to achieve a common understanding within the international community on how to engage with the Taliban his spokesman Stephane Dujarric said

Descon registers new fully- owned subsidiar y in Sharjah

leading multinational conglomerates with a diverse range of expertise in

sectors, including oil & gas, cement, power, hydro power, dams/barrages/canals, fertiliser, renewable energy, sugar, industrial, chemical, and petrochemicals They also specialise in EPC construction maintenance/industrial services infrastructure manufacturing and automation and control projects offering services for all kinds of engineering needs Even though the company started as an engineering company in Pakistan, its reach is not limited to Pakistan Descon now has a global presence that spans across the GCC (including the Kingdom of Saudi Arabia, UAE Kuwait Qatar Oman) Iraq Pakistan

South Africa and Kenya and perhaps plans on expanding their footprint further Descon’s recent expansion and diversification Setting base for marketing and selling of Descon’s products in the UAE is not the only big wave the company has made recently Along with expansion such as its newest subsidiary Descon Oxychem FZE the company has also been diversifying its reach and tapping into new industries In the past year, the Descon group has invested in water-treatment, fintechs, pharmaceuticals, banking, and agriculture The prominent one of their notable investments is

in the agriculture sector, which is typically overlooked by other major players in Pakistan

They did so in March 2022, by acquiring shareholdings in two agricultural enterprises – Vital Agri Nutrients and Vital Green – which have since been providing solutions to farmers facing various challenges Vital Green has even partnered with microfinance bank FINCA to offer financing to farmers in their value chain Additionally Descon established Descon Research Farms, a 100acre farming facility near Kasur, in November of 2022, to experiment with new farming techniques and test the interventions proposed by Vital Agri Nutrients