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PAKISTAN, CHINA RESOLVE TO CEMENT TIES, ROBUSTLY IMPLEMENT CPEC PROJECTS

ISLAMABAD

MIAN ABRAR

PAKISTANand China Saturday here reaffirmed resolve to further strengthen their timetested and All-Weather Strategic Cooperative Partnership through continued close consultations at the leadership level, enhanced practical cooperation and robust implementation of the CPEC projects.

Foreign Minister Bilawal Bhutto Zardari and State Councilor and Foreign Minister of China Qin Gang made the commitment during the 4th round of the Foreign Minister level Pakistan-China Strategic Dialogue co-chaired by them. The Chinese foreign minister was on his first official visit to Pakistan from 5 to 6 May. During the dialogue, the entire range of bilateral relations and cooperation, including in political, strategic, economic, defence, security, education and cultural domains was reviewed. Regional and global issues of mutual interest were also discussed.

The Foreign Minister of Pakistan congratulated the Chinese leadership on the successful holding of the ‘Two Sessions’. He wished China’s people and the new leadership greater success in building a strong, prosperous and modern socialist country. He also expressed his resolve to work together with State Councilor Qin Gang to further fortify the Pakistan-China relationship.

Recalling the consensus reached between the leadership of the two countries during the visit of Prime Minister Shehbaz Sharif to Beijing in November

2022, the two sides agreed to further strengthen Pakistan-China strategic relations amidst profound regional and international changes. The ministers expressed satisfaction at the growing mo-

mentum in high-level exchanges between Pakistan and China while reaffirming the need for convening important bilateral sectoral engagements. The ministers underlined that Pak-

Current expenditures cross annual budgeted estimation within nine months

istan-China friendship was a historic reality and a conscious choice of the two nations. As ‘All-Weather Strategic Cooperative Partners’, Pakistan and China enjoy complete mutual trust, and their iron-clad friendship enjoys complete consensus in both countries.

Both sides agreed on continuing their enduring support on issues concerning each other’s core national interests. Reaffirming Pakistan’s special place in China’s neighbourhood diplomacy, the Chinese side reiterated its firm support for Pakistan’s sovereignty, independence and territorial integrity, as well as its unity, stability, and economic prosperity. The Pakistani side reiterated its commitment to the “One China” policy as well as its firm support to China on all core issues of its national interest, including Taiwan, Xinjiang, Tibet, Hong Kong and the South China Sea.

Pakistan and Afghanistan pledge to strengthen bilateral trade ties

ISLAMABAD: Pakistan and Afghanistan recently held a high-level meeting to strengthen their bilateral trade ties. The meeting, which was co-chaired by Syed Naveed Qamar, Federal Minister for Commerce of Pakistan, and his Afghan counterpart, Haji Nooruddin Azizi, saw the participation of senior officials from various ministries of both countries. As per officials the meeting involved detailed discussions on several important aspects, including customs cooperation, border management, bilateral trade, reduction of tariffs, and issues related to the pharmaceutical and meat industry. Both sides expressed their commitment to strengthen their trade ties and address the challenges they face in their trade relationship. The ministers emphasized the significance of smooth customs processes and efficient border management to facilitate trade and enhance economic cooperation. They also highlighted the need to streamline and simplify trade procedures, aiming to reduce bottlenecks and ensure a conducive environment for bilateral trade.

GHULAM ABBAS

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Charles crowned king at first UK coronation since 1953

At 12:02 pm exactly (1102 GMT), the Archbishop of Canterbury Justin Welby placed the solid gold St Edward’s Crown on Charles’s head as a sacred and ancient symbol of the monarch’s authority.

Cries of “God Save the King” rang out from the 2,300-strong congregation at Westminster Abbey and trumpet fanfares sounded at the climax of the solemn religious confirmation of his accession.

LONDON

AFP

Charles III on Saturday finally met his date with destiny after a lifetime as heir to his late mother Queen Elizabeth II, as he was officially crowned king in the first coronation in Britain since 1953.

Outside, ceremonial gun salutes blasted out across land and sea while bells pealed in celebration at churches across the country.

The build-up to the Christian ceremony of prayer and praise — steeped in 1,000 years of British history and tradition, with sumptuous robes and priceless re-

g SHORTFALL IN REVENUE COLLECTION REACHES RS 278BN, IN SAME PERIOD

PROFIT

ISLAMABAD

Despite revising the revenue targets, conducting austerity drives and not providing funds for provincial elections, the federal government’s current expenditures have crossed the annual budgeted estimation of Rs 8.709 trillion in nine months. The Fiscal Operations Report (July-March) issued by the Ministry of finance states that the total expenditures of the government has reached close to Rs 10 trillion in nine months.

As per the report, the government has spent Rs 9.244 trillion for the current year against the total estimate of Rs 8.709 trillion. Out of total government spending, the government has consumed Rs 3,582 billion for only mark-up payments. These payments include Rs 3,108 billion on domestic debt and Rs 474 billion on external debt.

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Govt again urges SC to form full court over bill clipping

CJP’s powers

ISLAMABAD STAFF REPORT

galia — has been mostly celebratory.

But even before Charles, 74, and Queen Camilla, 75, left Buckingham Palace for a rainy procession to the abbey, police arrested dozens of protesters using new powers rushed onto the statute book to crack down on direct action groups.

The anti-monarchy movement Republic — which wants an elected head of state — said six of its organisers were detained, while climate activists Just Stop Oil said 19 of its number were held.

Nevertheless, dozens of Republic activists held aloft banners on the route of the procession route, declaring: “Not My King.”

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The federal government on Saturday requested the Supreme Court to form a full court to hear petitions challenging Supreme Court Practice and Procedure Act 2023. On March 28, parliament passed the bill, aimed at curtailing the unbridled powers of the chief justice. The bill restricts the chief justice’s powers to take suo motu notices as well to constitute benches on his own.

Instead, it stipulates that these powers will be vested in a three-member committee, comprising the chief justice and two-senior most judges.

However, President Arif Alvi returned the bill back to parliament on April 8, without giving his assent. Subsequently, the lawmakers passed the bill again on April 10 and resent it to the president.

As per the country’s law, the president has 10 days to give his assent to the bill. However, even if the president does not give his assent, the bill will automatically become a law and take effect after that period, which in this case was April 20.

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Rs100b theft: PM unhappy with ‘inaction’ against corrupt DISCO officers

ISLAMABAD AHMAD AHMADANI

Prime Minister Shehbaz Sharif is reportedly disappointed with ‘inaction’ against corrupt officers of power distribution companies (DISCOs), allegedly responsible for power theft and line losses worth Rs100 billion per annum.

According to sources in the power sector, the Prime Minister had earlier issued a directive in October 2022 to tackle the issue of power theft/line losses and implement the measures proposed by the Power Division. However, the non-implementation of his directive has left the Prime Minister deeply

disappointed, and he has sought a report on implementation of his directive.

Failure of the Power Division to submit list of the corrupt officers has not only impeded the progress on reforms in the power sector but has also raised serious concerns about “patronage of corrupt practices” within the sector, sources added.

Sources also said that the federal cabinet in October 2022 had also taken note of the presentation by power division on power theft/line losses and proposed measures to curtail the same. The cabinet had directed the sponsoring division to present a complete picture of requirement of manpower, along

with a transparent mechanism for recruitment in the next meeting.

They said that the Power Division was asked to prepare a list of corrupt officers posted in power distribution companies (DISCOs) based on an objective criterion. They said the cabinet had also constituted a nine-member committee under the Minister of Defence (Convener) to examine measures to curtail theft and line losses by Rs100 billion per annum, besides other stepwise power sector reforms, such as running DISCOs on PPP (public-private partnership) mode, and directed to submit recommendations to the cabinet within two weeks.

The committee constituted by the cabinet was comprised of Minister for Defence (Convener), Minister for Power, Minister for Commerce, Minister for Poverty Alleviation & Social Safety, Minister for Housing & Works, Minister for Science & Technology, Advisor to Prime Minister on Political & Public Affairs, Secretary Power Division and any other member(s) the committee wishes to co-opt, said sources.

Recently, the Cabinet Division has also issued an Office Memorandum on May 4, asking for the latest progress on the implementation status of the un-implemented cabinet decision regarding power theft/line losses

worth of Rs100 billion per year which will be submitted to the federal cabinet, they added.

“Updated report on the prescribed performa on the implementation status/current progress of the above-mentioned decision duly signed by an officer not below the rank of Joint Secretary, may kindly be furnished to this Division, immediately for submitting a report to the federal cabinet”, say official documents, a copy of which is available with Pakistan Today/Profit. It is pertinent to mention that the failure to take action against corrupt DISCO officers has become a cause for concern, and it is yet to be seen how the situation will unfold.

PTI BLASTS POLICE OVER ARRESTING, DRAGGING WOMEN WORKERS

ISLAMABAD Staff RepoRt

PAKISTANTehreek-e-Insaf

(PTI) lashed out at the “fascist government” and Islamabad police for their extremely shameful and disgusting behaviour to drag PTI peaceful women and men protesters on roads for their sole crime to come out in huge number to show solidarity with Supreme Court of Pakistan.

PTI leaders in their strong-worded reaction strongly condemned the police brutality and termed the PTI women and workers’ arrested and dragging and pushing inside prison vans an absolutely shameful act and vowed that they would stand with the supremacy of the constitution and independent of the judiciary come what may.

PTI Central Secretary General Asad Umar, in his strong reaction, said that the worst fascism continued in Islamabad, as women were also arrested for their fault to express solidarity with the Constitution

and Judiciary of Pakistan. PTI Senior Vice President Fawad Chaudhry reacted that Islamabad Police established new traditions of brutal treatment of political workers. He said that these wounds would take time to heal.

PTI Senior Vice President Dr. Shireen Mazari said: “Sheer barbarism, as our women workers were simply standing by outside F-9 Park gate near heavy police contingent waiting for our rally. Police attacked and arrested them although they

In letter to PM, KP seeks immediate release of Rs62b hydel profit dues

PESHAWAR Staff RepoRt

had literally broken no laws – not even 144. She strongly condemned this violence against peaceful citizens.

PTI Central Secretary Information

Farrukh Habib said that despite the order of the Islamabad High Court, the Islamabad police did not take care of the dignity and respect of peaceful citizens, especially women, and they were dragged into the prisoner vans. He said that shameful and dictatorial act of Islamabad police and fascist government was unacceptable. PTI senior leader Dr Iftikhar Durrani raised a question as to why PDM, which was an amalgamation of the 13 oldest political parties of the country, was so afraid of political activities, peaceful rallies and public demonstrations that whenever the people gathered democratically, they were illegally suppressed and detained. He said that they strongly condemned the arrests of PTI workers including women from Islamabad and Rawalpindi, adding that the imported thugs have not yet realized that these acts only increase public sentiment.

’10 Billion Tree Tsunami’ suffers setback as flash floods devastate forests

PESHAWAR aziz BuneRi

Flash floods have swept away over 38,581 acres of forest land in Pakistan, dealing a severe blow to the ambitious “Ten Billion Tree Tsunami Initiative” launched by the outgoing PTI government.

The initiative aimed to plant 10 billion trees across the country, with a total of 9.019 billion trees planted at a cost of Rs38.40bn.

The project sought to afforest the country and reduce carbon emissions while promoting biodiversity and restoring degraded land. Climate change activists believe that the devastating impact of the floods underscores the urgent need for reforestation efforts to mitigate the impact of climate change.

Under the project, 650.14 million trees were planted in Khyber Pakhtunkhwa,

285.52 million in Punjab, 756.72 million in Sindh, 125.236 million in Balochistan, 151.38 million in Azad Jammu and Kashmir, and 44.298 million in GilgitBaltistan.

The tribal areas have also benefited from the initiative, with claims of planting a total of 146.2 million trees. This includes 21.4 million in Khyber, 13.4 million in Bajaur, 13.7 million in Mohmand, 36.4 million in Kurram, 19.7 million in Khyber, 18.3 million in North Waziristan, and 23.2 million in South Waziristan. In addition, 14 million trees have been planted in Lower Dir, 68.4 million in Upper Dir, and 40.93 million trees and plants in Dir Kohistan.

However, the floods have resulted in the loss of 5,474 acres of forest land in KP, 1,277 acres in Punjab, 29,262 acres in Sindh, 2,565 acres in Balochistan, and 3 acres in Gilgit-Baltistan. The damage caused by the floods is a stark reminder of

PTI files contempt of court plea against Islamabad DC

ISLAMABAD

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) on Saturday filed a contempt of court petition in the Islamabad High Court (IHC) against the Deputy Commissioner (DC) Islamabad for not allowing a rally planned to express solidarity with Chief Justice of Pakistan (CJP).

According to details, PTI chairman and former prime minister Imran Khan announced rallies in support of the CJP across the country on Saturday. The plea submitted by PTI stated that the Islamabad district administration has denied giving permission for a public rally in Islamabad today (May 6) to show solidarity with the CJP, which is contempt of court. It should be noted here that Justice Babar Sattar of the IHC had ordered the DC Islamabad to announce the decision regarding PTI’s rally request, but the DC did not allow the rally.

Citizen petitions LHC to restore Punjab Assembly

LAHORE

Staff RepoRt

A citizen filed petition in the Lahore High Court on Saturday, seeking restoration of the Punjab Assembly. Sharafat Ali, the petitioner, contended that since the election to the dissolved assembly could be held within the prescribed constitutional period of 90 days, the elected provincial assembly should be restored. The Punjab governor, chief secretary, and former chief minister Pervaiz Elahi have been made respondents in the application. He contended that there is a deadlock existed between the ruling PDM and Pakistan Tehreek-e-Insaaf over the election date and there seemed no chance of elections to the assembly within the prescribed time frame. The petitioner sought restoration of the assembly on the plea that the caretaker government had completed its stipulated tenure of 90 days and that the election to the Punjab assembly was not in sight.

Peshawar residents suffer from severe gas outage

PESHAWAR Staff RepoRt

Peshawar residents are enduring continued gas loadshedding, with no supply even during cooking times, causing severe problems. Complaints have been lodged from various neighbourhoods, including Hashtangari, Ramdas, Karimpura, Dalazak Road, Main Charsadda Road, Shami Road, and the inner city. However, despite numerous complaints, there has been no response from the Sui Northern Gas Pipelines Limited (SNGPL) officials, according to consumer Murad Ali. Paras Ahmad, another consumer from Main Charsadda Road and Lala Zar College, said that complaints have been made for the last three days, but there is still no gas supply during cooking times.

Caretaker Khyber-Pakhtunkhwa Chief Minister Azam Khan on Saturday asked the federal government to immediately release the outstanding payment of net hydroelectricity profit amounting to Rs62 billion to the province, urging for an increase in the rate of the profit. In a letter to the federal government, KP Chief Minister Azam Khan asked Prime Minister Shehbaz Sharif to act on Article 161(2) of the Constitution, which speaks out that “the net profit from the bulk generation of power at a hydro-electric station shall be paid to the province in which the hydro-electric station is situated.” The letter stated that the Constitution provides for the payment of NHP to the provinces at the rate determined by the Council of Common Interest (CCI). According to its reference, the Kazi Committee Methodology (KCM) was approved by the CCI in Jan 1991, while the first payment of Rs6 billion was given to KP (then North Western Frontier Province) next year. The KCM was endorsed by the National Finance Commission and the Supreme Court of Pakistan. It was subsequently approve by the CCI in 1991, 1993, 1997, 1998, 2016, 2018 and 2019, the CM mentioned in the letter. He said that in 2016, the federal government, realizing KP was in dire straits and on the instruction of the then prime minister Nawaz Sharif, announced an interim NHP agreement brokered by then finance Minister Ishaq Dar.

Paperless system gets thumbs up to save public money in Punjab

LAHORE Staff RepoRt

the fragility of Pakistan’s ecosystem, which has been adversely affected by deforestation, climate change, and other human activities.

Climate change activists said that the setback caused by the floods underscores the need for greater investment in

reforestation efforts in Pakistan. They added that the government must take urgent action to protect the country’s forests and other natural resources and promote sustainable development practices that can help to mitigate the impacts of climate change.

The diesel smuggling racket and it’s long shadow

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For a story back in February this year when the smuggling operation responded to the demand by scaling up, Profit was able to get in touch with a person of interest directly involved in the smuggling trait, Jahangir Baloch*. According to him there are four primary routes being utilized by local smugglers. Out of these four routes, three are categorized to be illegal, whereas one of the routes is considered to be ‘relatively legal’, for the lack of a better expression, as there is oversight from the Frontier Constabulary (FC).

Over the recent years, especially with a spike in global oil prices, smuggling of Iranian diesel has drastically increased. Balochistan is almost entirely run on imported diesel, but it has cast a long shadow. A senior source in the government, at the start of this year, told Profit that “smuggling of Iranian diesel has also increased drastically…[it] can be found up north as far as Gujranwala currently.”

THE IMPACT

The results are in front of us. On the 4th of May, the Attock Refinery Limited announced that it was faced with an emergency that requires immediate attention, due to which it will be functioning at a 25% capacity for over five days.

As per the notification, High Speed Diesel (HSD) upliftment by OMCs from ARL has been abysmally low in the preceding two months. It was disclosed to the PSX that they suspect their supply envelope to have been infiltrated by smuggled product, which has presented to be a predicament to the

company. Adding insult to injury, the refinery’s HSD stocks have also reached a concerningly high level, with little to no capacity left in their storage tanks. These conditions have created an impossible situation for the refinery, leaving them no choice but to shut down the main distillation unit for five days, in order to manage the critical levels and conduct essential maintenance on allied downstream units.

And the impact is not limited to just Attock. In a recent article, Dawn quoted a detailed report issued by the S&P Global Commodity Insights quoting several officials, analysts and oil producers which said cheaper Iranian diesel has rapidly gained popularity among Pakistani consumers looking for affordable fuels at a time when inflation is high and fuel prices have only soared and not budged from their bullish trend.

A shortage of dollar reserves and faltering Pakistani currency also kept fuel prices high in the country, prompting small private trading companies and individuals with a business network in Iran to purchase heavily discounted diesel.

According to the report domestic refiners in Pakistan are facing tepid consumer demand because of a sharp slowdown in economic activity, with the country’s oil product sales in April tumbling 46 per cent YoY to 1.17m tonnes, or about 8.8m barrels, according to OCAC. The widespread availability of Iranian diesel, especially in the southern region of the country, is hurting refiners’ diesel sales due to a significant price spread between Pakistani and Iranian barrels. Take the example of Attock Refinery again. The partial shutdown

is not going to have a particularly strong financial impact. What it does affect is the refinery’s ability to do business in the near future.

According to Mustafa Mustansir, Director Research and Business Development at Taurus Securities, the current event might not have farreaching financial consequences. “I don’t think it should have much financial impact, since they have sufficient inventory to sell if need be during these five days.”

However, Mustansir believes that the more serious problem that ARL faces at the moment is that of storage, “They have less space to store refined products, so the surplus inventory which they will try to manage by operating at a lower utilisation level can be an issue.”

The refinery’s latest expansion and up-gradation project completed in November 2016, which included reducing Sulphur contents in High Speed Diesel, increasing refining capacity, enhancing production of Premium Motor Gasoline, and expanding its captive power plant. Moreover, its paid-up capital has increased from Rs 80 million to Rs 1,066.163 million, since it started.

As things stand, Attock and other refineries are fighting a losing battle on an uneven playing field. The smuggling causes losses to the government and hurts local setups. However, this way there is cheaper fuel available in the country. The net impact, however, is negative. And it is imperative that law enforcement agencies either regularize and tax Iranian diesel (which is near impossible due to sanctions) or clamp down on the practice of smuggling.

Imran nominates Panjutha as substitute for court hearings

LAHORE Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Saturday prepared a “special power of attorney”, nominating lawyer Naeem Panjutha as his substitute for court proceedings. According to the power of attorney, Panjutha has the authority to file petitions, appeals and intra-court appeals in all courts. Furthermore, the lawyer also has the authority to record a statement in court on the former prime minister’s behalf. Imran has maintained in the power of

attorney that that due to personal engagements as party chief, he cannot appear in court in civil and criminal cases.

Imran, who was ousted from power via opposition’s notrust motion in April last year, is facing what he described a slew of “politically motivated” cases ranging from money laundering to terrorism. It was reported in March that a record 130 First Information Reports (FIRs) were registered against the former prime minister and his other party leaders. The FIRs were registered by the Punjab and Islamabad police and the Federal Investigation Agency (FIA).

According to the records, out of a total of 130 FIRs, 35 were registered against Imran.

The Punjab cabinet has approved the implementation of a paperless system across the province to save billions of rupees of taxpayers’ money. The cabinet meeting was held with Caretaker Punjab Chief Minister Mohsin Naqvi in the chair here the other day. The meeting was attended by provincial ministers, advisors, Punjab chief secretary, Punjab inspector general police, and other officials. In the meeting, the Punjab cabinet approved the closure of the file system in departments and the implementation of the paperless system, effective until May 15. Caretaker CM Naqvi also directed the digitisation of ACRs. The cabinet congratulated the chairman Planning and Development Board, secretary implementation, and chairman Punjab Information Technology Board for introducing the paperless system in departments. Additionally, the cabinet has decided to provide laptops to meritorious students in GilgitBaltistan and Kashmir, using those available to the Punjab government. The cabinet also approved financial assistance amounting to Rs1.5 million per person for the families of the youth of Ichra Lahore who died when their jeep fell into Neelum River. The Punjab Police (ministerial posts) Rules 2017 were also approved for amendment. Conditional approval was given to sign a Memorandum of Understanding between the Department of Special Education and Non-Government Organisation (NGO) “Tare Zameen Par” Trust. The Cabinet Standing Committee on Legal Affairs would review the MoU and take the final decision. In the meeting, the decisions of the 11th, 12th, 13th, and 14th meeting of the provincial cabinet were ratified. The decisions of the second and third meetings of the Cabinet Standing Committee for Finance and Development were also ratified. Finally, the decisions of the first and second meetings of the Cabinet Standing Committee on Legal Affairs and Privatisation were ratified, as were the decisions of the second, third, and fourth meetings of the Cabinet Standing Committee on Law and Order.

Polls to be held simultaneously on completion of govt’s term: Marriyum

ISLAMABAD Staff RepoRt

Minister for Information and Broadcasting

Marriyum Aurangzeb has said the elections will be held simultaneously across the country on the completion of constitutional term. In a statement on Saturday, she said the PTI which destroyed the economy, halted the economic progress and CPEC, isolated Pakistan on the diplomatic front and only gave inflation and unemployment will not return to power. She said the facilitators of PTI Chairman have gone. She said the PTI Chairman violated the constitution, dissolved the assemblies of Punjab and Khyber Pakhtunkhwa and hatched the conspiracy of cypher for the sake of power. Marriyum Aurangzeb said the PTI Chairman should not worry about the budget as now it will be made for the people and not for the corrupt elements. She said the budget is being prepared by the government which gave cheap flour to the people and rid the country of terrorism and power outages. The Information Minister said the government will provide employment opportunities as well as reduce inflation and poverty. ‘PM invites King Charles to visit Pakistan’ Minister for Information and Broadcasting Marriyum Aurangzeb on Saturday said Prime Minister Shehbaz Sharif had extended an invitation to King Charles to visit Pakistan. “The Honourable Prime Minister met King Charles on Friday night at the Event and offered him felicitations on behalf of the people of Pakistan on his coronation,” the minister said in a tweet. “He also extended an invitation to King Charles to visit Pakistan. King Charles recalled his previous visit to Pakistan in his conversation with the

NAWAZ SHARIF DISQUALIFIED ON BASIS OF FALSE, BASELESS ALLEGATIONS: PM SHEHBAZ

LONDON app

PRIMEMinister Shehbaz Sharif on Saturday said former prime minister Nawaz Sharif was disqualified on the basis of false and baseless allegations and Imran Niazi was imposed on the country in 2018 through a conspiracy. Talking to the media here, he said an incompetent person Imran

Niazi severely damaged the economy and the country and Pakistan was put in danger while removing Nawaz Sharif from the political scene. He said Saqib Nisar led the campaign to get Nawaz Sharif disqualified on the basis of false and baseless allegations Saqib Nisar was using the power of suo motu not in the public interest but to make Imran Niazi successful, he said adding Saqib Nisar was working not as chief justice of

Pakistan but as an agent of Imran Niazi and his sole aim was to defeat Nawaz Sharif and secure win for Imran.

Shehbaz said the audio leaks had unmasked all the characters who were part of the conspiracy. After surfacing the audio leak of Saqib Nisar, there was no doubt that there was a conspiracy and collusion to bring Imran Niazi to power by any means. He said the National Assembly had taken up the issue of the audio leak for a

probe against Saqib Nisar and his son. The prime minister said elections of the National Assembly and provincial assemblies should be held on the same day according to the constitution. “It is not possible to hold elections in provinces on different dates as it will affect electoral results.”

The Parliament’s right to legislate cannot be taken away as it was the constitutional and legal right of the legislative body, he added.

Pakistan, China resolve to cement ties, robustly implement CPEC projects

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Welcoming the completion of a decade of CPEC in 2023, the two sides hailed CPEC as a shining example of Belt and Road cooperation which has accelerated socio-economic development, job creation and improvement of people’s livelihoods in Pakistan. Reaffirming their commitment to the high-quality development of CPEC, both sides noted with satisfaction the steady progress of CPEC projects. The two sides reiterated the key significance of ML1 project under the CPEC framework and agreed to advance its earliest implementation. They also agreed to actively advance the Karachi Circular Railway alongside key areas of cooperation including agriculture,

science and technology, IT, and renewable energy.

The two sides reviewed the progress of various projects in Gwadar, including the Friendship Hospital and New Gwadar International Airport (NGIA). Both sides reiterated their resolve to make Gwadar a high-quality port and a hub for regional trade and connectivity.

Acknowledging industrialization as highly conducive to long-term sustainable economic growth and development, they also agreed to work together in the guidance of the Framework Agreement on Industrial Cooperation to actively advance industrial cooperation. Both sides reiterated that CPEC is an open and inclusive platform for win-win cooperation and invited third parties to maximize benefits from CPEC.

The Pakistani side expressed gratitude to the Chinese side for its economic and financial support, and its generous assistance package for post-flood reconstruction and rehabilitation. The two sides reiterated their firm resolve to counter-terrorism in all its forms and manifestations. Acknowledging the endeavours and sacrifices made by Pakistan in the fight against terrorism and extremism, the Chinese side appreciated the measures taken by Pakistan to ensure enhanced security of Chinese projects, personnel and institutions in Pakistan, as well as the steps are taken to apprehend and bring to justice the perpetrators targeting Chinese nationals in Dasu, Karachi and other attacks. The two sides agreed to further build on the cooperation in security and counter-terrorism domains.

Reviewing their cooperation on regional and international issues at multilateral forums such as the United Nations and Shanghai Cooperation Organization (SCO), the two sides agreed to further deepen their coordination and cooperation to safeguard mutual interests. Both sides reaffirmed their commitment to the purposes and principles of the UN Charter, and support for multilateralism, free trade and win-win cooperation. The Pakistani side supports the Global Development Initiative and Global Security Initiative put forward by the Chinese side. The two sides are ready to advance cooperation on the GDI and GSI bilaterally and in multilateral fora. The Pakistani side welcomed the Global Civilization Initiative proposed by the Chinese side.

Pakistan and Afghanistan pledge to strengthen bilateral trade ties

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The participants exchanged views on enhancing trade volumes and expanding the range of traded goods between Pakistan and Afghanistan. The ministers acknowledged the importance of diversifying trade beyond traditional items and exploring new avenues of economic cooperation. Moreover, discussions were held on improving infrastructure and connectivity to facilitate trade flows. The officials highlighted the potential benefits of investing in transportation and logistics infrastructure, which would contribute to increased trade activity and economic growth. According to details, both sides expressed their commitment to addressing any challenges that hinder bilateral trade

and pledged to work together to create a more favorable trade environment. The meeting concluded on a positive note, with the participants expressing their determination to strengthen trade ties and foster closer economic cooperation between Pakistan and Afghanistan. The meeting is expected to have a significant impact on the trade relationship between the two countries, opening up new opportunities for trade and investment. The meeting is also seen as an important step towards building stronger ties between the two nations, which have historically had a complex relationship. In another meeting held on the same day, a four-meber delegation led by Mr. Hadi Sirika, the Minister for Aviation of Nigeria, called on Federal Minister for Commerce Syed Naveed Qamar to discuss ways to strengthen

bilateral ties between the two countries. During the meeting, the delegation and the Federal Minister engaged in discussions on increasing people-to-people contact, promoting cultural exchanges, and enhancing touristic and economic cooperation between Pakistan and Nigeria. They recognized the importance of fostering closer ties in these areas to promote mutual understanding and strengthen the bond between the two nations. A key focus of the discussion was the aviation field, with both sides emphasizing the need for joint ventures and collaborations in this sector. They recognized the potential for enhancing connectivity and cooperation in the aviation industry, which would contribute to increased trade and economic growth between Pakistan and Nigeria.

Charles crowned king at first UK coronation since 1953

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Both Human Rights Watch and Amnesty International voiced concern at the arrests. “This is something you would expect to see in Moscow, not London,” HRW said.

London’s Metropolitan Police has some 11,500 officers on the streets in one of its biggest-ever security operations. It has warned that it has an “extremely low threshold” for protests.

As well as being the first coronation in 70 years, it was the first of a king since 1937. It was only the second to be televised and the first in colour and streamed online.

CHANGES:

Much of the two-hour Anglican service, in which Charles pledged “I come not to be served but to serve”, would have been recognisable to the 39 other monarchs crowned at

Why

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This remarkable increase can be attributed to the unprecedented surge in interest rates, which ensured a steady flow of interest-based income for the banks.

Over the past two years, interest rates have consistently been on the rise. As of January 2023, the interest rate stood at a notable 17%. However, it didn’t stop there, as it climbed by a significant 300 basis points to reach 20% by March 2023. Presently, the interest rate stands at an impressive 21%.

With the escalation of interest rates, interest-based income, also referred to as markup income, experienced substantial growth for the banks. Most banks witnessed doubledigit year-on-year growth rates in their interest-based income. Bank Alfalah (BAFL) recorded the highest growth rate, soaring by an impressive 96%, closely followed by Meezan Bank (MEBL) at an outstanding 91%.

Increase in Deposits

The balance sheets of banks demonstrated robust growth in deposits, with double-digit year-onyear increases observed for most banks. Notably, Bank Alfalah (BAFL) once again stood out with the highest year-on-year growth rate, reaching an impressive 32%. This indicates that BAFL’s deposits in Q1 2023 expanded

Govt again urges SC to form full court over bill clipping CJP’s powers

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In the petition, the respondents have requested that the petitions be heard by all the honourable judges of the court due to the paramount importance of the constitutional questions involved and the fact that it is a case of first impression. “The Parliament passed the Supreme Court (Practice & Procedure) Bill, 2023, in exercise of its powers under the Constitution while fully cognizant of the principles of separation of power and constitutional command to secure independence of the judiciary,” the petition stated. It said that the full court is the most appropriate forum to hear the petitions, as the Supreme Court Rules, 1980, have vested the power of formation of benches upon senior judges of the Supreme Court. “Respondents are fully conscious that it is their bounden duty to uphold the independence of the judiciary and the rule of law and the Respondents have never wavered in performance of their duty. Respondents are also very conscious of doctrine of trichotomy of powers and the independent role of three pillars of the state as expounded by the honourable Supreme. Any encroachment in the domain of other has been frowned upon by this Court. Keeping the aforementioned principles in mind the Parliament in its wisdom as the representative body of the people of Pakistan and being well aware of the constitutional scheme of separation of powers passed the Supreme Court (Practise & Procedure) Bill, 2023. As noted above, the honourable Court has prima facie found it to be serious encroachment upon the independence of judiciary.”

Current expenditures cross annual budgeted estimation within nine months

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Westminster Abbey since 1066.

But while many of the intricate rituals and ceremony to recognise Charles as his people’s “undoubted king” remained, the king sought to bring other aspects of the service up to date. Women bishops participated for the first time, as did leaders of Britain’s non-Christian faiths while its Celtic languages — Welsh, Scottish Gaelic and Irish Gaelic — featured prominently.

A gospel choir sang for the first time at a coronation while a Greek choir intoned a psalm in tribute to Charles’s late father, Prince Philip, who was born on the island of Corfu.

As king, Charles is the supreme governor of the Church of England and has described himself as a “committed Anglican Christian”.

But he heads a more religiously and ethnically diverse country than the

by 32% compared to the same period in 2022. For many banks, a significant portion of their deposits comprised zero-cost deposits. These banks are typically larger institutions with extensive branch networks and wellestablished brand names, attracting a larger customer base. Consequently, they possess a greater number of current accounts in comparison to smaller banks. These current accounts represent zero-cost deposits, as they do not require interest payments to customers.

In the ongoing high-interest rate environment, zero-cost deposits hold significant value for banks. These deposits serve as the holy grail for banks as they can utilize them for lending purposes or invest them in government securities. Both of these options generate interest income for the banks, contributing to increase in profitability and overall financial performance which explains the astounding increase in income.

As the above graph shows, MEBL maintains highest rank in zero-cost deposit mix, clocking in at approximately 50% this quarter.

ADR vs IDR

As mentioned earlier, banks have the opportunity to utilize their deposits in two distinct ways: by extending loans to individuals and businesses or by investing in government securities

one his mother inherited in the shadow of World War II.

As such, he sought to make the congregation more reflective of British society, inviting ordinary members of the public to sit alongside heads of state and global royalty. In another change, the coronation themes mirrored his lifelong interest in biodiversity and sustainability.

Seasonal flowers and foliage were brought, from the wind-battered Isle of Skye in northwest Scotland to Cornwall at the tip of England’s southwest coast, to fill the abbey.

Ceremonial vestments from previous coronations were reused, and the anointing oil — created from olives on groves on the Mount of Olives and perfumed with essential oils — was vegan.

Charles was anointed out of sight of the congregation behind a three-

and bonds.

The Advances to Deposit Ratio (ADR) serves as a gauge for measuring the extent of lending to the private sector, encompassing both businesses and individuals, in relation to the total deposits held by the bank. Conversely, the Investment to Deposit Ratio (IDR) reflects the proportion of a bank’s overall investments in comparison to its total deposits.

Interestingly, Pakistani banks have exhibited a tendency to prioritize income generation through investments in government securities rather than focusing on lending to the private sector, comprising businesses and consumers. This preference stems from the perception that private sector lending entails a certain degree of risk, despite the potential for higher returns. In contrast, investing in government securities is regarded as riskfree, ensuring the preservation of the invested capital and the recoverability of interest income.

Why was the first quarter of 2023 remarkable for the banking sector of Pakistan?

As a result of this inclination, the average ADR in

sided screen in front of the High Altar to the strains of Handel’s soaring anthem “Zadok the Priest”, sung at every coronation since 1727.

OPPOSITION

Rishi Sunak — Britain’s first prime minister of colour, who gave a reading from the Bible at the service — has described the coronation as “a proud expression of our history, culture and traditions”.

But not everyone is convinced: polling indicates waning support for the monarchy, particularly among younger people.

Charles’s eldest brother Prince Andrew — sidelined due to his friendship with the late convicted paedophile Jeffrey Epstein — was booed as he headed to the abbey.

Another royal exile Prince Harry, who has criticised the family since leaving for the United States in 2020,

Pakistani banks stands at 51%, while average IDR is notably higher at 71%.

The government has also spent approximately Rs 1000 billion for defense expenditures, Rs 486.696 billion for payments of pension, Rs 396 billion for running of civil government, Rs 432 billion for subsidies and Rs 617 billion for Grants to Others during the first nine months of the current fiscal year. According to the Fiscal Operations Report, the government has collected Rs 6,938 billion including Rs 5,617 billion tax revenue and Rs 1,320 billion for non-tax revenue of the federal and provincial governments. The Federal Govt has received Rs 5,155 billion from the collections of the Federal Board of Revenue and provincial governments earned Rs 461 billion from the tax revenues during the first nine months of the current fiscal year. The government has received Rs 85 billion through Mark-up (PSEs & Others), Rs52 billion from dividends, Rs 61 billion from Profit PTA & others, Rs 371 billion from Surplus Profit of State Bank of Pakistan, Rs 14 billion from defense receipts, Rs 25.7 billion from Passport Fee, Rs16 billion from discount retained on Crude Oil, Rs 88 billion from Royalties on Oil/Gas, Rs 19 billion Windfall Levy against Crude Oil, Rs 11.7 billion from Natural Gas Development Surcharge and Rs 362 billion from Petroleum Levy and Rs 97 billion from other resources during the three quarters. As per the report, the budget deficit was increased to Rs 3078 billion due to high expenditures and low revenues of the government during the first half of the current fiscal year. The first nine months’ shortfall in revenue collection reached Rs 278 billion as total collection stood at Rs 5.156 trillion in the first nine months of 2022-23 against the target of Rs 5.433 trillion. The data shows that the federal government has transferred Rs2.953 trillion to provinces including Rs 1,455 billion to Punjab, Rs727 billion to Sindh, Rs 484 billion to KPK and Rs 286 billion to Baluchistan under the NFC Award during the first nine months of the current fiscal year. Meanwhile the current revenue position suggests an even tougher last 3 months before the FY23 closes. The federal government, if it is to stay in the IMF program, might be asked to revise its quarterly revenue targets. Even with the current target, the government is expected to collect almost half of the revenue collected in the first 9 months, in the last 3 months of the year.

COMMENT

IMF conditions never end

THEInternational Monetary Fund is showing that its packages come with a political cost. First Pakistan fulfilled all its fiscal conditionalities, but got no package, because the IMF said that bilateral aid donors would have to guarantee that they would make the payments. Now, its mission chief in Pakistan has said that the budget coming in June would have to be seen before the programme is resumed. Before that happens, Pakistan has to meet $3.7 billion in repayments this month. Apparently, all of this is happening because Pakistan is untrustworthy, and it is true that Pakistan under the PTI had reneged on commitments it had itself made. However, the real issue seems to be the political component. The IMF is a Bretton Woods institution, and though a supposedly purely economic institution, it also makes sure that its lending goes to countries following the policies mandated by the USA. AT present, the USA wants Pakistan to support it in the Russo-Ukraine conflict. One inflection point will be the vote in the UN General Assembly on the invasion. So far, Pakistan has abstained. The USA would like to change that.

However, Russia is making its own moves. Its heavily discounted oil is going to arrive very soon, with major reductions in fuel prices possible, with optimistic predictions of cuts to about Rs 100 per liter. This alone will prevent Pakistan for US blandishments. Then there is the China factor, with Pakistan unwilling to abandon its close ties with China, especially when the USA is drawing closer to India. Another imponderable factor is that the bilateral allies Pakistan is relying on, apart from Cgina, are US allies. Pakistan can thus expect to be squeezed to make it bend to the US will. The path of independence sounds attractive, but is only possible where there is no financial dependence. Pakistan might note that China and Russia are free of IMF interference because of their economic strength. Russia may have some leverage because of its hydrocarbon resources, but China does not even have that.

Clearly, the era of geopolitics is not over. It may be true, as it always has been, that economics drives international relations, and Pakistan must adjust to a new world order, but it should not ignore the reality that there are no free lunches, and that lenders, even on onerous terms, ultimately extract their pound of flesh. Pakistan must remember that the IMF wants to keep Pakistan afloat and in the US camp. At the same time, the USA would not like it to free itself of the chains of the multilateral institutions, because it would mean losing an important lever of control.

Founding Editor

Yousaf Nizami Editor

M. A. Niazi

Joint Editor Umar Aziz Executive Editor

Honourable Court of the Honourable Government

The

GB judiciary must be independent

Raja Shoaib Wali

LASTyear, the Chief Minister of GilgitBaltistan filed a petition in the Supreme Court of Pakistan under Article 184(3) of the Constitution where he challenged the not longago appointed judge of the Chief Court GB and also challenged the extension granted to the 3 judges of the same court. According to the petition, the Governor G-B acted on his own for the appointment of judges while under “Gilgit Baltistan Order 2018” he was required to act on the advice of the Chief Minister.

There is, however, an important distinction to keep in mind because whether the Governor act or does not act on the advice of the Chief minister, in either case, it is a mockery of the independence of the judiciary. If we look at the pertinent provision of the “Gilgit Baltistan Order 2018” related to appointment of judges, Article 75(5) of the Order says, the Chief Judge of the Supreme Appellate Court (GB) shall be appointed by Prime Minister of Pakistan on the advice of Governor, and other judges of the Supreme Appellate Court shall be appointed by the Chairman (the Prime Minister of Pakistan) on the advice of the Governor (appointed by the federal government) after seeking views of the Chief Judge (appointed by the Prime Minister on the advice of the Governor).

So, one thing is clear that “GB Order 2018” compromises the independence of the Judiciary in several ways. Firstly, the appointment of judges by the Governor gives him a significant role in the appointment process. This is because the Governor is appointed by the federal government, which may influence the appointment process in favour of its own interests and this begs the question that, how this did not even occur to the framers of this “Order” because it is a clear violation of our constitutional values. And the same was noticed by Supreme Court of Pakistan in “Civil Aviation Authority vs Supreme Appellate

Court Gilgit-Baltistan” where the Supreme Court held that, “a proper arrangement must be provided for by Pakistan for the people of GB for purposes of governance within a framework of a constitutional nature.” (Page 21)

And about two decades ago before “GB Order 2018” was passed, the apex court in “Al-Jehad Trust Vs. Federation of Pakistan” held that, “People of GB are entitled to participate in the governance of their area and to have an independent judiciary to enforce Fundamental Rights. (Page 1393)

But if we look at the appointment process of judges in Gilgit Baltistan under GB Order 2018, the idea of an independent judiciary still looks like a chimeric dream. The same issue was unequivocally felt by the honourable judges of the apex court and to address the issue inter alia ameliorate the situation, a modified order i.e. “Gilgit Baltistan Governance Reforms 2019” was proposed to make the appointment process transparent through an independent judicial commission and to enhance the independence of judiciary in the region. The court held that the appointment process should be carried out by an independent judicial commission, with representation from judiciary, bar council, and government. This would ensure that the appointment of judges is made without any interference but unfortunately, till present day, the federal government has been reluctant to comply with the orders of the Supreme Court regarding the implementation of the

The Hidden Dangers of PFAS in Our Daily Lives

environment

THEdiscovery of a new chemical that can cause cancer has sent shockwaves through the scientific community and beyond. This chemical, known as Perand polyfluoroalkyl substances (PFAS), has been widely used in industrial and consumer products for decades, including in non-stick cookware, waterproof clothing, and food packaging. The problem is that PFAS are highly persistent and do not break down easily in the environment, which means they can accumulate in soil, water, and living organisms, including humans. As a result, exposure to PFAS has become a major concern for public health, with studies linking these chemicals to a range of health problems, including cancer. It's a wake-up call that reminds us of the potential risks associated with the everyday products we use, and underscores the importance of continued research and regulation to protect public health.

PFAS are a group of manmade chemicals that are characterized by the presence of one or more carbon-fluorine bonds. These carbon-fluorine bonds are some of the strongest in nature, which makes PFAS highly resistant to degradation and breakdown in the environment. The most common PFAS compounds are perfluorooctanoic acid (PFOA) and perfluorooctane sulfonate (PFOS), although there are hundreds of other related compounds.

PFAS are typically synthesized using a process known as fluorination, which involves replacing one or more hydrogen atoms in an organic compound with fluorine atoms. This process can be carried out using a variety of methods, including electrochemical fluorination, plasma fluorination, and direct fluorination.

PFAS have unique chemical and physical properties that make them useful in a wide range of applications. For example, their strong carbon-fluorine bonds make them highly resistant to heat, chemicals, and moisture, which makes them useful in non-stick coatings and waterproof fabrics. PFAS are also used in firefighting foam because they are effective at extinguishing fires involving flammable liquids.

However, the same properties that make PFAS useful also make them persistent in the

and potentially harmful to human health. PFAS can accumulate in the bodies of living organisms, including humans, and have been linked to a variety of health problems, including cancer, thyroid disease, immune system dysfunction, and reproductive and developmental problems. PFAS can enter the body through various routes of exposure, including drinking water, food, and air. The potential danger of PFAS-containing products is that they can release these chemicals into the environment and ultimately into our bodies, where they can persist and accumulate over time, leading to adverse health effects. PFAS exposure can lead to oxidative stress and inflammation, which are known to play a

accumulate in certain tissues, such as the liver and the kidneys, and may lead to chronic inflammation and tissue damage, which can increase the risk of cancer. There are several strategies that can be used to control PFAS contamination and exposure. One of the most effective ways to control PFAS contamination and exposure is to reduce or eliminate the use of these chemicals in industrial and consumer products. Contaminated water and soil can be treated using various methods, including activated carbon adsorption, ion exchange, and reverse osmosis. The US Environmental Protection Agency (EPA) has established a health advisory level of 70 parts per trillion (ppt) for two types of PFAS (PFOA and PFOS) in drinking water. Other countries and organizations have established their own guidelines or limits. PFAS can enter the food chain through contaminated soil, water, or air, and may also be present in food packaging. It is important to monitor and regulate PFAS levels in food and food packaging to reduce exposure. Permissible limits for PFAS vary depending on the specific compound and the country or organization setting the limit. For example, the US EPA has established a health advisory level of 70 ppt for PFOA and PFOS in drinking water, while the European Union has set a limit of 100 nanograms per liter (ng/L) for PFOS in drinking water. It is important for governments to continue monitoring and regulating PFAS to ensure that exposure is kept to a minimum and that permissible limits are updated as new research becomes available.

“Gilgit Baltistan Governance Reforms 2019” which is crucial for upholding rule of law and directly affects the fundamental rights of citizens of Pakistan including those living in Gilgit Baltistan.

The federal government, through an additional attorney general, in the aforesaid petition filed by the Chief Minister replied that the Supreme Court of Pakistan lacks jurisdiction to interpret “GB Order 2018” as doing so would be ultra vires and without jurisdiction and that only Local Courts of the region have the jurisdiction to interpret the same.

If we pay attention to the reply of the federal government and then look at the appointment process of judges in Gilgit Baltistan, it raises more concerns about the independence of judiciary there. What the federal government did not see is that they, in their reply, have made the best case for why this matter should now be heard only by the Supreme Court of Pakistan.

If we look at article 258 of the constitution of Pakistan it says, “Subject to the Constitution, until [Majlis-e-Shoora (Parliament)] by law otherwise provides, the President may, by Order, make provision for peace and good government of any part of Pakistan not forming part of a Province.”

Article 175 of the constitution says, “There shall be a Supreme Court of Pakistan, a High Court for each Province (and a High Court for the Islamabad Capital Territory] and such other courts as may be established by law.”

To understand the bigger picture, we have to peruse the above articles together. Article 258 makes it clear that Gilgit Baltistan is a part of Pakistan as “GB Order 2018” is issued under the very same article, while Article 175 tells us that there shall be a Supreme Court of Pakistan and since Gilgit Baltistan is a part of Pakistan, there can be no question about the validity of the jurisdiction of the Supreme Court to interpret the GB Order because the constitution applies to all citizens of Pakistan, including those living in Gilgit Baltistan. Therefore, any laws or actions of the organs created under the “GB Order 2018” that violate the fundamental rights guaranteed by the Constitution would be unconstitutional and subject to challenge in the Supreme Court of Pakistan.

The writer is an advocate

Editor’s mail

Corruption of the cerebral variety

WITHthe advent of automation and artificial intelligence (AI), educators are facing unprecedented challenges.

Now plagiarism and digital cheating have become hard to track down. Already dubbed a cut-and-paste generation of netizens, our students have AI tools at their disposal. Already creatively bankrupt, students hate to exert themselves in easy homework assignments, say, writing an essay or translating a paragraph.

Addicted to early satiation of their inquisitive queries because of search engines on the internet, AI apps like ChatGPT have made them shirk employing their imagination in creative tasks. AI-aided written renderings create a trust deficit between educators and learners. Accordingly, educators fail in gauging the actual academic worth and competence of learners.

Besides, they cannot help them out in case of any snags and bottlenecks in their studies. The cliché goes that if we hide anything from a doctor, a lawyer or a teacher, they cannot prescribe the right remedy for our malady, and the situation can go out of control. This is precisely what is happening.

Educators will have to devise strategies to make learners use their own faculty of thinking and reasoning as much as possible. To cope with AI challenges, random testing is quite a handy tool. The already attempted assignment should be reassigned to attempt extempore in the presence of teachers and in the absence of all digital resources.

The learners’ blowback disillusionment in this exercise may induce integrity in them to use their own creative faculty. Viva voce and interview, two academic bogeymen, serve as a litmus test for evaluating the learners’ true academic worth and depth. Interviews bring about academic screening via physical presence. Learners, for their part, must demonstrate sincerity when accomplishing any creative task on their own.

They will realise how unique and nourishing the elation felt at the consummation of some unalloyed artistic endeavour is. Only the creator can experience the majesty and magnanimity that creation leads to.

Our students’ writing expertise is already tattered: “the essential standards of essay writing like conceptual clarity, research-based knowledge of the subject and the argument based on logical reasoning” were found absent in the essay writing, as noted in the Central Superior Services (CSS) 2020 annual report. Out of many caveats for the users of AI apps in writing composition, one is that it instils perfectionism in them, which is not always a healthy sign. For instance, AI editing apps point out grammatical and syntactical errors, making the writers over-conscious about their writing styles and language. Rhythm evaporates in writings that are choreographed with virtual assistants. Mindfulness needed to flesh out ideas is shaken because of writers’ distraction by software suggestions.

M NADEEM NADIR KASUR

role in cancer development. PFAS may also disrupt normal cell signaling pathways and gene expression, which can contribute to the development of cancer. In addition, some PFAS compounds have been shown to be genotoxic, meaning they can cause DNA damage, which is a key step in the development of cancer. For example, perfluorooctanoic acid (PFOA) has been shown to cause DNA damage and to increase the incidence of liver tumors in laboratory animals.

Another way in which PFAS may contribute to cancer development is through their ability to bioaccumulate in living organisms. PFAS can

The use of FAS in many industries has raised concerns due to their environmental and health impacts. However, alternative materials and methods have been developed, including plant-based formulas for textile water repellency, ceramic and silicone coatings for non-stick cookware, and natural alternatives for food packaging. By adopting these safer alternatives, we can reduce the risks of exposure to harmful chemicals while still achieving comparable performance. This is an important step towards improving the safety and sustainability of the products we use daily.

The author is Assistant Director in Sindh Environmental Protection Agency He can be reached at fayyazsalih@gmail.com and tweets

Saving agri land

PUNJAB’Srice, wheat and vegetable yield is on the decline after a boom in real estate and subsequent construction activity. Owing to this, agricultural land is being converted into large housing societies with an extraordinary and rapid increase in construction. If this trend is not stopped, the production of these crops will be badly affected in the future. The inflation mafia is taking advantage of the situation and the prices of food items have more than doubled at the local level within the last two, three months.

It is vital to take all necessary measures, including legislation, without any delay to protect the cultivated area from being converted into an urban concrete jungle so that the desired and much-needed targets of export can be met alongside local requirements.

Otherwise, we will be forced to import wheat, rice, vegetables and just about everything to satisfy the local demand.

Now the IMF is showing that its lending has a political cost

If we pay attention to the reply of the federal government and then look at the appointment process of judges in Gilgit Baltistan, it raises more concerns about the independence of judiciary there. What the federal government did not see is that they, in their reply, have made the best case for why this matter should now be heard only by the Supreme Court of Pakistan

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late)

The End of Left of Centre

Established order learns to live with right of centre

PAKISTANis currently going through the throes of its political rebirth; to sum up in a few words.

No one can deny the fact that the arrangements among the political elite, finalized consciously or accidentally during the formative years of the country, have effectively fallen flat.

The sacred cows of yesteryear are open to censure. The strides in technology; most notably the availability of social media platforms and compliant gadgets; have made it easy for the proverbial ‘subjects’ to take on the ‘rulers’ as they like to. The political developments in April 2022, and an almost stalemate-like position for the last one year, have further radicalized the national narrative. Today, with few amendments in the individual party narratives; ‘establishment bashing’ is the one which sells at the ballot.

Even the PDM component, the PML(N), that used the established order node to upstage the PTI, feels that its post-1999 anti-establishment narrative can sell well to make it reach the Treasury benches. The sole reason behind Nawaz Sharif toying with the idea of a return to the country revolves around the fact, undoing the damage inflicted by his younger brother, the incumbent Prime Minister. The three-time PM hopes that his presence will enable his party to construct a counter narrative vis-à-vis the now estranged establishment party, the PTI.

The emerging scenario clearly suggests that the political war is between the two right-of- centre parties. The left, ever represented by the Pakistan People’s Party, is long out of the race and so is the leftwing intellectual cadre. Much of the ‘bereaved’ can be found either in the non-government organizations (NGOs) or in media groups; or finding common cause with this or that ‘mother tongue’.

Few have felt that a party like PTI couild cater to their worldview. However, the leftwing narrative is buried for times to come. Very much like the Reform narrative has become irrelevant in neighbouring Iran with the conservatives decamping with much of the ‘reformist’ wardrobe.

With the PPP effectively torpedoed by its leadership in the post-Benazir period from having any effective na-

tional role; it is actually a fight between the two right of centre parties, hoping to take the country into the new world realities in their own way. There can be many arguments about the PPP constitutional maturity and its ability to look beyond the obvious. The sad reality is that during the last ten years in its home province Sindh; it has delivered little to inspire the voters elsewhere to consider PPP for a federal role.

Coming back to the argument of how the political forces will be lined up for taking the top slot; a closer look suggests that it will be just a change of tag for the enthusiastic voter and a facelift for the political analysts. Here it is important to note that the task entrusted to the PTI in 2018 was in fact similar to what the IJI and th PML(N) did in 1990 and 1997. The established order for all practical purposes has been very comfortable with the right-of- centre parties. It is no secret that the religious parties like Jamaat Islami; the party of urban Islamists, has provided much of the fodder to the right wing parties making it to the federal capital. Many a top leaders and activists in the two parties can be traced back to their origins in the Jamaat.

Here it may not be out of context to mention that despite its opposition to the idea of a separate homeland by seemingly secular leadership of Muslims of India under the Quaid-i- Azam, the Jamaat had found common cause with the established order now and then.

The biggest theatre in the 1970s was East Pakistan, now Bangladesh. In 1979, the Jamaat again came to the rescue of the CIA and the ISI to find compliant Afghan combatants. The very reason people like late Ahmad Shah Masoud drifted to Iranians, finding common cause with incumbent Quds Chief Ismail Qani and the late Qasem Soleimani, as narrated by Arash Aziz in his book, The Shadow Commander, during much of the 1980s and 1990s. The cause of that has been Pakistan ‘s exclusive love for Gulbadin Hekmatyar and then the much-touted Taliban.

The particular worldview of the Jamaat has resonated well with the narratives espoused by the PML(N) and PTI from time to time. Apparently, hawkish stances in foreign policy, a general antipathy towards anything irreligious, has been the sample narrative of the two rightwing parties. The use of religious references and symbols have reinforced an image of the two parties; that if finding the opportunity, they

would not hesitate to unveil what they perceive of Pakistan. In the early years of politics, Nawaz Sharif along with the JI espoused a narrative which opposed any public office for the women; a straight referral to the late Benazir Bhutto. Likewise, the Shariat Bill fiasco too was the brainchild of the PML.

The hawkish stances by both parties have been exploited to the hilt, connecting them with real time happenings. The PML(N) to this day, owns and politically exploits its decision to detonate six nuclear devices on 28 May 1998.

Likewise, the PTI defends its record with occasional social media referrals; weaving a narrative, that Imran Khan said ‘fire’ to the PAF when asked about the intruding Indian Air Force Jets, the desired course of action in the aftermath of the Pulwama, Balakot and 27 February 2019 incidents.

What can be the take-home for the established authorities? A complete surrender and handing over the power to civilian supremacy.

Alternatively, a new rewriting of the rules of arrangements. With the left and any other radical movement out of the contest, regional and religious pressure groups micromanaged by the inter-services sleuths, the second option; that of rewriting of the rules can be the viable option. The fact of the matter is that both the right-of-centre leaning cats are not ready to permanently alienate the monkey, who will divide the spoils

The PTI, during its formative years, has provided the alternate option for primarily PML(N) voters to change options. Its formal political marriage under the auspices of ‘hybridism’ reinforced its rightwing credentials more forcefully. The airing of Turkish drama serials about the founder of the Ottoman Empire, whose each episode includes at least one decapitation, has found much fervour in the PTI cadre observed in social media; having PTI tags, Ertughral tags and somewhat religiously intolerant sectarian tags.

Much of the PML(N) narrative has targeted precisely the same sections of society; which have been later targeted by the PTI. While the PML(N) has been able to mask its real intent; the PTI narrative characteristics has

been the ‘abusive’, ‘Shock & Awe’, to borrow a term from the US Iraq campaign. Regretfully, the Islamist bent of both the parties has resulted in a trigger-happy resort to ‘below the belt’ narratives to embarrass the opponent. Taking the debate a bit further; what can be the takehome for the established authorities? A complete surrender and handing over the power to civilian supremacy. Alternatively, a new rewriting of the rules of arrangements. With the left and any other radical movement out of the contest, regional and religious pressure groups micromanaged by the inter-services sleuths, the second option; that of rewriting of the rules can be the viable option. The fact of the matter is that both the right-of-centre leaning cats are not ready to permanently alienate the monkey, who will divide the spoils. The likely scenario seems like a compromise formula acceptable to all. Here it may be noted that the USA’s and Chinese control of decision-making processes in Pakistan will certainly be reflected in days to come. With the society already divided, right up to a divided judiciary, various factions here and there will have an impact on the future course of action. No one wants Pakistan on the deathbed. However, the move forward will be a more jingoistic narrative. Any party winning the imagination or approval of the established order will certainly seek complete control; be it the PTI or PML(N). Given the democratic cultural traditions of the Right, the resultant ‘morning’ or sehar as imagined by late Faiz Ahmad Faiz, after the 2023 elections will be as dark as one can simulate under given parameters.

The writer is a freelance columnist

NEWsources of non-dollar finance are emerging. There are new bilateral agreements to trade and lend in currencies other than the US dollar. Even more importantly, major oil trade buyers and sellers – Moscow and Riyadh as much as Beijing and New Delhi – are agreeing to trade it in non-dollar currencies. These deals are destroying one of the main pillars of dollar dominance since OPEC quadrupled and then doubled oil prices in the 1970s, giving countries around the world a major reason to demand and hold dollars.

However, many analysts continue to write as if the dollar’s dominance remains intact. Of course, these arguments are based on all sorts of false assumptions.

For instance, they claim the dollar will continue dominating until another country’s currency replaces it or that this will only happen if other countries pursue forms of internationalization that mimic that of the US dollar today.

In a sense, the discussion is a little like that depicted in The Big Short, a film about a small band of bankers who bet against the housing market and the securities resting on it in the 2000s. Having made their bets, they waited for the market to collapse. It did. However, for a time, while mortgage defaults increased, the securities they are based on continued to rise in value. Prices were buoyed by investors primed by Alan Greenspan’s famous claim that there could not possibly be a housing market bubble. Nor were the securities downgraded. The rating agencies had not only given high scores to investment rubbish, they had come to believe their own lies. Only when the losses piled up and actually began to filter through the system in the form of payment shortfalls was the truth acknowledged.

De-dollarization also has its equivalent of the losses and payment shortfalls.

Consider the recent Financial Times story, ‘China’s ‘men in black’ step up scrutiny of foreign corporate sleuths’. It describes the Chinese Ministry of State Security using “methods familiar to spies and private detectives” to crack down on “foreign corporate sleuths” performing “due diligence” on investments. They cite the process of checking whether a supply chain involved “forced labor from Xinjiang” as an example, stating that such

due diligence is critical for attracting US investment.

The piece adds that earlier, “the due diligence groups felt they had ample space to operate and that authorities understood their importance,” but now Beijing has stepped up scrutiny of these scrutineers on grounds of national security. They lament that “spy companies were the gatekeepers for money,” but now, “[t]hat sense of a mutually beneficial relationship is gone.”

Now, the Chinese government has no shortage of reasons for stepping up its scrutiny of the information being gathered by foreign, particularly US entities.

After all, it is the target of a US hybrid war whose fronts multiply daily. However, this is not the only significance of the story. It goes deeper than that and testifies to de-dollarization.

Since 1971 the US currency’s global role has rested on the claim that the dollar-denominated financial system was the world’s most sophisticated, with the broadest and deepest pools of capital from which the rest of the world’s investors could drink their fill. Certainly, the expansion of financial activity, also known as financialization, has been critical. By increasing financial demand for the dollar, it counteracted the Triffin Dilemma caused by the US deficits that provided the world with liquidity, meaning that the larger the US deficits, the greater the downward pressure on the dollar.

Needless to say, claims about the attractions of US finance were exaggerated. As far as most of the world was concerned, rather than providing beneficial productive investment, the US dollar-denominated financial system only unleashed torrents of short-term ‘hot’ money that has only profited mostly Western speculative investors, while regularly wreaking havoc on the rest of the world’s economies. Only China and a handful of other much smaller, favored, investment destinations benefited from a certain (easily overstated) amount of productive investment. Ironically, it was part of the hollowing out of US manufacturing through a little foreign direct investment and a lot of outsourcing.

Now, however, the US dollar-denominated system’s internal contradictions are mounting. While it is ceasing to provide its US and Western short-term investors with opportunities for speculative profit and to furnish the modest productive investment it once did.

The most fundamental of these mounting contradictions is the bind into which the rise of inflation puts the wizards at the Federal Reserve. On the one hand, the only way they can deal with inflation without eroding the power of capital is by raising interest rates, but that promises to crash the very financial structures of unproductive debt and speculation on which the wealth of the financial elite it serves relies. On the other hand, if the Fed does not raise interest rates, and permits inflation to run rampant, it will destroy the same system even more directly by undermining the value of the

monetary unit, the US dollar, on which the entire system rests. What’s the point of accumulating your wealth in dollars if they are losing value at a rate close to or even higher than the rate at which you are accumulating it?

If the US financial system is losing its charm even for speculators, the very financialization over which it presides and on which the US dollar system rests has, over the last several decades, strangulated the alternative source of gain, the US productive economy. For decades, it was deprived of the long-term, patient investment that alone can make it dynamic. Today, therefore, neither the financial system nor the US productive economy will keep dollars flowing into the US dollar system. The former, which once yielded profits – via interest or speculation – by skimming off production incomes kept capital flowing into the US dollar system based on a reasonable expectation of gain. That situation has been eroded.

It is no wonder that a recent Financial Times story comparing the US and European financial systems explained that, today the EU, with its proportionally larger base of productive corporations able to generate dividend income rather than merely uncertain and increasingly risky speculative gains, is likely to attract more money. And if Europe looks good compared to the US, China looks even better. Money from around the world is flocking into Chinese IPOs (initial public offerings). By contrast, IPOs in the US and the UK, with the most financialized and productively weakened economies, have performed abysmally. The simple reason is that China still has a productive economy and far more of the sort of steady dividend-paying productive companies investors will now increasingly seek.

So, China cracking down on Western ‘due diligence’ sleuths is just another sign that the US financial system, and with it the dollar, is fast losing what few charms it once had. China may have tolerated a certain amount of espionage from Western financial investors when they constituted a major source of investment in China’s productive economy and USChina relations were miles better. Today, not only must it be more vigilant on national security grounds, with the US waging an ever-expanding hybrid war against China, its productive economy is winning the favor of the very capital that is fast falling out of love with the US financial system. China has no incentive to tolerate US “sleuthing.”

Dr. Radhika Desai, a professor at the Department of Political Studies at the University of Manitoba in Winnipeg, Canada and director of the Geopolitical Economy Research Group. She also writes on current affairs for Valdai Club, CGTN, Counterpunch and other outlets and is the author of Geopolitical Economy: After US Hegemony, Globalization and Empire and Capitalism, Coronavirus and War: A Geopolitical Economy.

Saudi, Jake Sullivan leans on UAE, India to foster regional integration

One analyst said that with this trip, the US looks to include Saudi Arabia into Washington’s new approach of merging South Asia and the Middle East, will discuss rail and minerals projects

AL MONITOR jack Dutton

US National Security Advisor Jake Sullivan is set to arrive in Saudi Arabia on on the most senior visit by a Biden administration official since the presidential visit in July 2022, and on the heels of China's breakthrough deal between Riyadh and Tehran last March. Sullivan is expected to meet the country's de-facto ruler Saudi Crown Prince Mohammed bin Salman. The two spoke by phone on April 11, and White House Coordinator for the Middle East and North Africa Brett McGurk visited last month in anticipation of the visit.

The US senior official will be joined with officials from the UAE and India, in a bid to restore worn ties with Riyadh and boost regional integration. Speaking at the Washington Institute for Near East Policy on Thursday, Sullivan said he would be discussing "new areas of cooperation between New Delhi and the Gulf as well as the United States and the rest of the region."

Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security advisor and the chair of the Abu Dhabi Investment Authority, will be at the talks with Sullivan, a diplomatic source told Al-Monitor. The source said that Indian national security advisor Ajit Doval would also be at the talks.

The US, the UAE and India are part of the socalled “I2U2” group, which also includes Israel. The coalition was established in October 2021 to cooperate on joint initiatives in water, energy, transportation, space, health and food security.

The I2U2 mechanism is also seen as a framework to counter China's influence in the region.

Israel, however, won’t be sending officials to Riyadh. Saudi Arabia has not normalized relations with Israel, and US efforts towards that goal have stalled as Israeli-Palestinian tension increased.

REGIONAL INTEGRATION

The officials will discuss diversifying supply chains and investments in strategic infrastructure projects, including ports, rail and minerals, Bloomberg reported Friday. The trip also seeks to repair strained ties between Riyadh and Washington over several issues, including Saudi Arabia choosing to make OPEC cuts and the fallout from the murder of journal-

ist Jamal Khashoggi at the Saudi consulate in Istanbul. Mohammed Soliman, director of Middle East Institute's Strategic Technologies and Cyber Security Program, told Al-Monitor that Washington has two main aims of the trip. One to show that its relations with Riyadh are strong despite recent disagreements. The second is to include Saudi Arabia in Washington’s new approach of merging South Asia and the Middle East. "While in the long term, there is a strategic imperative for Saudi Arabia to join the I2U2, it isn’t a necessity, as I2U2 is not an end itself but a format to achieve this vision of merging the two regions. More formats will emerge alongside I2U2," Soliman added.

A CHANGED LANDSCAPE

Afshin Molavi, senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies, said that the trip will test US understanding and leverage of the new geoeconomic landscape of the Middle East. "For the past decade or so, geopolitics has been the prime driver in the Middle East region, but geoeconomics is now an equal driver in some respects. Saudi Arabia is now riding and, in several cases, leading this train," Molavi told Al-Monitor.

The Jeddah Security and Development Summit last year, for instance, brought together the six Gulf Cooperation Council (GCC) states plus Egypt, Iraq, and Jordan. The I2U2 grouping is another example, as well as the rise in GCC investments in the region. "Jake Sullivan would be well-served to understand that the region's geo-economics are rising as its geopolitical risk is decelerating," Molavi said. "Washington should encourage and support this shift and look for creative partnerships to fuel this paradigm."

He pointed to the decrease in tensions amid the Iran-Saudi rapprochement, the Al Ula agreement that ended the dispute with Qatar and several regional states, and negotiations to end the Yemen war. “Of course, geopolitical risks remain, but Saudi Arabia seems to be heading in a new and different direction, one of foreign policy de-escalation and geo-economic acceleration," he said pointing to a dramatic shift.

Molavi said that for too long, Washington has failed to see the region's enormous potential as a node of connectivity in the global economy and a key source of surplus capital driving growth far outside its borders. The country is also on the verge of producing more copper and green hydrogen, which are vital to a green energy transition.

“Meanwhile, we will still need fossil fuels for quite some time, and Saudi Arabia remains the most powerful producer,” Molavi added. “Saudi investments in the region could boost development, but most importantly, a less hazardous regional environment could pave the way for more outside investment." Secretary of State Antony Blinken is also due to visit the kingdom in June for a meeting of the global coalition to defeat ISIS, the Islamic State terrorist group, Bloomberg reported Friday, citing anonymous sources.

In

The major global economies are shifting and the clues are there for those who know where to look

De-dollarization is spreading and it’s not hard to see

DR RaDhika DeSai

54 DEAD AFTER ETHNIC CLASHES IN INDIA’S REMOTE NORTHEAST

IMPHAL AGENCIES

THEdeath toll after ethnic clashes in India’s remote northeast rose to 54 on Saturday, with fresh violence overnight despite authorities rushing in troops to restore order. Thousands of soldiers were sent to Manipur state after a protest march by a tribal group turned violent on Wednesday. Authorities imposed an internet blackout and issued shoot-at-sight orders in “extreme cases” in an effort to contain the unrest.

The situation remained tense after a fresh bout of violence on Friday night, hours after the state’s top police officer warned that rioters had stolen arms and ammunition from police stations. Hospital morgues in the state capital Imphal and Churachandpur district further south had reported a combined total of 54 dead, according to local media.

“16 bodies were kept in the morgue of the Churachandpur district hospital while 15 bodies were in Jawaharlal Nehru Institute of Medical Sciences in Imphal East district,” Press Trust of India news agency reported, citing an unnamed local official.

“The Regional Institute of Medical Sciences at Lamphel in Imphal West district reported 23 dead.” Manipur director general of police P. Doungel told reporters Friday that security forces were bringing the situation under control. Army patrols had “gone a long way to quell the thing off”, he said.

But he added that some police stations had been

overrun by “miscreants” who stole arms and ammunition and issued a public appeal for their return. Security forces and the Manipur government have yet to issue an official death toll for this week’s violence.

India’s law minister Kiren Rijiju told reporters Saturday that “many lives have been lost” after days of clashes alongside damage to property.

The internet blackout has impeded the flow of information from Manipur and details of the latest clashes remain sparse. An Indian army unit based in neighbouring Nagaland state said 13,000 people had sought shelter from the violence.

– ‘Fled for our lives’ –

“My sons convinced me to escape to safety,” Pishakmacha Thokchom, 53, told AFP from one of the relief centres set up in Imphal East district. “But they

Xi Jinping urges modernization of industrial system, high-quality population development

ISLAMABAD MIAN ABRAR

Chinese President Xi Jinping on Friday called for efforts to accelerate the building of a modern industrial system underpinned by the real economy and advance Chinese modernization with support from the high-quality development of the population.

Xi, also general secretary of the Communist Party of China (CPC) Central Committee, chairman of the Central Military Commission, and director of the Central Commission for Financial and Economic Affairs (CCFEA), made the remarks while presiding over the first meeting of the CCFEA under the 20th CPC Central Committee in Beijing.

A modern industrial system is the material foundation of a modern country, and the focus of economic growth must be on the real economy to provide a solid material foundation for building China into a great modern socialist country in all respects, Xi said.

He added, population development is a vital issue related to the great rejuvenation of the Chinese nation, and efforts must be made to improve the overall population quality to support Chinese modernization.

Chinese Premier Li Qiang, who is deputy director of the CCFEA, also attended the meeting, at which a work regulation for the commission for financial and economic affairs and detailed regulations for the office of the commission were approved.

Friday’s meeting came one week after a key meeting of the Political Bureau of the CPC Central Committee that analyzed the current economic situation and economic work.

PUSH FOR INDUSTRIAL UP-

Iran hangs Swedish Iranian dual national for ‘terrorism’

DUBAI

AFP

stayed behind and I’m now deeply worried for them,” she added. Vijaya Thingaijam, 47, sheltering at the same centre, told AFP he had fled in a panic after a group began firing guns. “We abandoned all our belongings and fled for our lives,” he said.

On Thursday, security forces fired tear gas in Imphal to disperse protesters, some of whom had set alight vehicles and houses in parts of the city. Burnt out vehicles were seen on streets otherwise empty due to the imposition of a round-the-clock curfew. Defence officials said Friday that additional troops had been brought into the state by road and air.

Tribal groups were protesting against demands by the state’s majority Meitei community to be recognised under the government’s “Scheduled Tribe” category. Indian law gives tribes falling under that designation reserved quotas for government jobs and college admissions as a form of affirmative action to address structural inequality and discrimination.

Manipur is part of India’s remote northeast, a region linked to the rest of the country by a narrow land corridor that has seen decades of unrest among ethnic and separatist groups.

The northeast is home to dozens of tribal groups and small guerrilla armies whose demands range from greater autonomy to secession from India.

At least 50,000 people have lost their lives in the conflicts since the first insurgency broke out in Manipur in the early 1950s. Over the years these conflicts have waned, with many groups striking deals with New Delhi for more powers.

Iran executed Swedish-Iranian dissident Habib Chaab for “terrorism” on Saturday, according to the judiciary. “The death sentence for Habib Chaab… nicknamed Habib Asyud, the head of Harakat al-Nidal terrorist group… was executed today, Saturday morning,” the judiciary’s Mizan Online website reported. Chaab had been held in Iran since October 2020 after he vanished during a visit to Turkey and was put on trial in Tehran. Convicted of “corruption on earth” for heading a rebel group, he was sentenced to death on December 6. Stockholm has denounced the decision as “inhumane”. According to Mizan Online, Chaab led Harakat al-Nidal, or the Arab Struggle Movement for the Liberation of Ahvaz, which Iran considers a “terrorist group” and blames for orchestrating attacks in southwestern Khuzestan.

The oil-rich province is home to a large Arab minority, and its people have long complained of marginalisation.

Iranian authorities accused Chaab of staging attacks since 2005 “under the protection of two spy services, including the Mossad and Sapo” — Israeli and Swedish agencies, respectively.

According to the prosecution, other leaders of Harakat al-Nidal are based in Denmark, the Netherlands and Sweden, with the group receiving financial and logistical support from Saudi Arabia.

Iran executes more people yearly than any other nation except China, according to rights groups including Amnesty International.

Three dual nationals — including Chaab — have been sentenced to death or executed over security-related charges since the start of the year, according to the

US bank lending touches record as deposits fall, Fed data show

PROFIT REUTERS

GRADING: According to the CCFEA meeting, in order to build a modern industrial system that is holistic, advanced, and secure, China should seize opportunities presented by the new scientific and technological revolution, such as artificial intelligence, adapt to the requirements of harmonious coexistence between human and nature, maintain and strengthen its advantages of a complete industrial system and strong supporting capacity, promote the efficient aggregation of global innovation factors, and boost the intelligent, green and integrated development of industries.

The meeting’s participants urged efforts on the integrated development of the first, second, and tertiary industries, the transformation and upgrading of traditional industries, and opening up and cooperation.

China should fine-tune its industrial policies for the new development stage and take industrial security as a top priority, they noted, calling for efforts to enhance the top-level design in areas of strategic importance and policy coordination.

The principal position of enterprises in sci-tech innovation should be ensured with institutional arrangements, while greater attention should be given to enhancing the application of technologies in grain production, according to the meeting’s participants.

They urged efforts to make full use of the advantage of the super-sized market, with efforts to integrate the strategies of domestic demand expansion and innovation-driven development and promote opening up and cooperation of the industrial and supply chains.

The meeting’s participants also stressed the importance of fostering world-class enterprises in China and valuing outstanding entrepreneurs.

Deposits at U.S. commercial banks fell toward the end of April to the lowest in nearly two years, data released on Friday by the Federal Reserve showed, while overall credit provided by banks moved up, led by a record level of outstanding loans and leases.

Deposits on a nonseasonally adjusted basis fell in the week ended April 26 to about $17.1 trillion, a drop of about $120 billion from the week earlier. That was the lowest level since June 2021, with deposits now having declined by more than $500 billion from the week before Silicon Valley Bank (SVB) collapsed in March.

After record deposit outflows immediately after the failure of SVB and smaller Signature Bank within days of each other, deposits had stabilized into early April. They picked up again in the latter half of April, a period that typically has large outflows from accounts as the annual tax filing season comes to a close.

On a seasonally adjusted basis, which takes that pattern into account, deposits have changed little since the end of March.

At large U.S. banks deposits fell to $10.54 trillion from $10.61 trillion a week earlier, on a nonseasonally adjusted basis. Deposits at small banks totaled $5.32 trillion, compared with $5.34 trillion.

Meanwhile, total banking system credit has yet to show the contraction many econo-

mists and policymakers anticipate to develop after the recent banking system turmoil and aggressive interest rate increases by the Federal Reserve over the past year. Regulators seized a third bank – First Republic – this week and JPMorgan Chase & Co (JPM.N), the largest U.S. bank, took over.

Total banking system credit rose for a second week to $17.37 trillion led by an increase in loans and leases to a record high $12.11 trillion, on a nonseasonally adjusted basis, from $12.07 trillion in the previous week. Nevertheless, loan growth has flattened out in recent months: the annual growth rate has cooled from a double-digit pace late last year to about 9% as April was ending, suggesting tighter conditions are beginning to temper bank credit.

CORPORATE CORNER

JazzCash, CBA join hands to promote digital financial services

In a recent development, JazzCash and CBA (Community business agent) have formed a partnership to provide Cash-In and Cash-Out services to JazzCash customers through CBA's retail network. This collaboration is expected to have a significant impact on the digital financial services industry in Pakistan, making it more convenient and accessible for customers.JazzCash is a leading mobile wallet and branchless banking services provider with a significant market share in mobile money activity in Pakistan.jazzcash.com.pkMeanwhile, CBA is the country's largest digital distribution platform, promoting micro-entrepreneurship in the country. cba.com.pk. PR

Drive to compile house servants, tenants' data in full swing

iSlaMabad: According to details, following the special orders of Inspector General of Police (IGP)

Islamabad Dr. Akbar Nasir Khan, the Islamabad Capital Police "Knock the Door" campaign for the registration of employees and tenants is in full swing, a police public relations officer said. He said that, during this campaign, various teams of Islamabad capital police are going to the streets and door-to-door to ensure the registration of tenants and domestic workers as well as to inquire about the problems faced by the citizens. In this regard, the Counter Terrorism Department (CTD) Islamabad has registered a data of 170 tenants and house servants of 250 houses from Aabpara police station jurisdiction. The purpose of this campaign is to avoid any untoward incident by maintaining law and order in the federal capital Islamabad adding that the registration of tenants and domestic workers could not only keep a close watch on miscreants but also prevent the elements involved in any kind of suspicious activity. PR

Snakebite incident

Mirpur Sakro: On the 05th of May, 2023, at 16:13, a call from Sheikh Zaid Sakro Hospital landed on 1122; the patient was a youngster with a snake bite case; due to the unavailability/busyness of ambulances, C&C informed the caller that all ambulances were busy; the patient was then transferred to a private car and driven to Karachi.The employee of Sheikh Zaid Sakro Hospital, Ali Nawaz, called the supervisor on his personal number to report that there is a patient who requires an ambulance, but the 1122 agent stated that the ambulances are not available and are very busy, so the patient was transported in a private vehicle. Please arrange an ambulance on priority on the way to Karachi. PR

FINANCE MINISTER ASSURES AJK PM OF FULL SUPPORT FOR DEVELOPMENT SCHEMES

ISLAMABAD STAFF REPORT

AZADJammu and Kashmir

(AJK), Prime Minister Chaudhry Anwar ul Haq on Saturday called on Minister for Finance and Revenue Senator Mohammad Ishaq Dar, and discussed financial matters and the pace of development schemes in AJK.

The minister expressed the federal government’s commitment to the development and progress of all regions including AJK, adding that the welfare and development of the people of Kashmir is among the top priorities of the government and no stone would unturned for the development of the area, said a news release.

He shared the economic outlook of

the country and said that despite the challenging situation, the government is determined to set the economy on stabil-

ity and growth.

Ishaq Dar extended all possible support of the federal government to the

Sindh govt working on self-reliance projects, says Sharjeel Memon

KARACHI STAFF REPORT

Sindh Minsiter for Information Sharjeel Inam Memon has said that the provincial government was working on self-reliance projects.

He said this while speaking to a delegation of the Foreign Media Journalists Association (FMJA), which called on him here on Saturday. The delegation included journalists, working for the foreign media outlets, was led by its President Ashraf Khan.

The Minister Sharjeel Memon said that the provincial government had started working on the reconstruction project of 2.2 million houses damaged in the recent floods.

He said that the government had commenced a cheap, comfortable and good transport service to provide relief to the people of the province. He said that a safe and ideal Pink bus service had also been started for the woman.

Memon said that the provincial government was making all-

out efforts for the provision of best services to the people.

The government had worked well in health, energy, education, agriculture, infrastructure and other sectors, he said adding that SIUT, Gambat Institute, NICVD, cyber-knife institute, and other health related centres were performing well.

The Information Minister said that an unprecedented legislation had been done to empower the woman in the province. He said that necessary steps were being taken for rights of the woman and children.

He said that Thar coal project

of the provincial government in the field of energy was significant one.

The Minister, on the occasion, directed the officers of the Information department to fully facilitate the journalist community in discharging their professional responsibilities.

On the occasion, Information

Secretary Sindh Nadeemur Rehman Memon, Director Admin Yousuf Kaboro, Director Press Information Hasan Asghar Naqvi, Director Advertisement Imtiaz Joyo, Director Planning and Development Fida Hussain Baladi, Deputy Director Sarang Latif Chandio and others officer were present.

Balochistan Chief Secretary, Chief Census Commissioner jointly chair high-level meeting

tricts mined through Digital System.

List of blocks with under / over enumeration was shared with the Balochistan Provincial Government for a targeted approach to ensure accurate statistics.

Chief Census Commissioner, Dr. Naeem uz Zafar assured full support of PBS in provision of desired information to pinpoint over-coverage.

Wild polio detected in sewage samples of KP

ISLAMABAD STAFF REPORT

Wild poliovirus has been detected in sewage samples from Khyber Pakhtunkhwa, the Ministry of National Health Services said.

The virus was also found on April 10 in environmental samples collected from the Hangu district and the provincial capital Peshawar, the ministry said in a statement. The two detected viruses are genetically linked to poliovirus found in Afghanistan’s eastern Nangarhar province in January this year, it added.

Polio is a highly infectious disease that invades the nervous system and can cause irreversible paralysis in a matter of hours.

Health teams in Afghanistan have been attacked repeatedly since the Taliban denounced vaccines as a Western plot to sterilise Muslims and imposed bans on inoculation in 2012.

Pakistan and Afghanistan will continue to work together in the battle against polio, Health Minister Abdul Qadir Patel said in a statement.

ISLAMABAD STAFF REPORT

Chief Secretary Balochistan and Chief Census Commissioner jointly Chaired a high-level meeting that was held on 6th May, 2023 to ensure the completion of Verification/ Enumeration process for 7th Population and Housing

Census-2023 in Balochistan by 15th May, 2023

A comprehensive strategy was devised jointly to ensure complete enumeration/verification in Balochistan till 15th May, 2023.

Muhammad Sarwar Gondal (Member PBS) gave a detailed presentation on under/over enumeration observed in some dis-

Chief Secretary Balochistan appreciated the presentation shared by PBS and assured his full cooperation in completing the important National task of Census with accuracy within the stipulated timelines.

All Commissioners shared the updates on Population Census in their respective divisions and ensure completion of work by 15th May, 2023.

Experts explore bond between faith, economy at Int’l Divine Economics Conference

MUZAFFARABAD STAFF REPORT

The capital city of AJK witnessed a momentous event as renowned intellectuals, economists, and scholars from various corners of the globe convened to engage in insightful discussions on the “Role of Religion, Spirituality, Ethics, and Values in Economy and Society.”

The third International Divine Economics Conference, organized by the Islamic Social Sciences Forum (ISF) of Hadi Foundation in collaboration with esteemed universities and AJK Medical College, commenced with great enthusiasm on Saturday.

The conference aimed at to question traditional economic paradigms and delve into the profound influence of religion, ethics, values, and spirituality on

the economy and society. Anticipation ran high as distinguished speakers and participants geared up to challenge established norms and explore novel perspectives on the interplay between economic systems and the realm of faith.

The inaugural session, held at a local hotel on Saturday morning, set the tone for the momentous event. Presided over by the Former Chief Justice of Azad Jammu and Kashmir, Justice Chaudhary Muhammad Ibrahim Zia, the session featured addresses by notable figures such as Prof. Christopher Hodshire from the United States and Dr. Redek Tadeusz E. Biernacki from Chile, who joined remotely. Renowned economist Dr. Faheem Khan, Chairman of the Hadi Foundation, and Conference Chair Prof. Dr. Nisar Hussain Hamdani, along with other distinguished guests, also delivered thought-provoking speeches.

Talha makes Hajj training mandatory for all

ISLAMABAD STAFF REPORT

Minister for Religious Affairs and Interfaith

Harmony Senator Muhammad Talha Mahmood on Saturday said Hajj training was mandatory for all intending pilgrims and all the participants would be awarded certificates.

Addressing a press conference here at the Haji Camp Islamabad, he warned that if anyone did not attend the training session as per schedule, it would create issues for the intending pilgrims at the airport while proceeding to Saudi Arabia to perform the sa-

cred obligation.

Shedding light on the significance of these training sessions designed for the intending pilgrims, the minister said it would help them in performing the Hajj rites in a more appropriate manner.

He said it was also necessary to be acquainted with the local rules and regulations of the host country so that they could have a peaceful and memorable journey to the holy land.

He said all intending pilgrims, being representatives of Pakistan, should express maximum restraint and good behaviour as there would be Muslims from every nook

and cranny of the world.

He expressed his apprehension that in the past, the medicines used to provide the pilgrims during Hajj operations were not of good quality. “I have collected some samples of the medicines while visiting the Hajj medical mission here and these medicines would be sent to a laboratory to examine their quality,” he added.

The minister said if any medicine would be found of low quality, the company would be delisted and fined as well.

He further mentioned that he would hold a special audit of the quantity of the medicines to ensure that it was not lesser than the

AJK government in its quest for economic progress and development.

Senior AJK Minister Colonel (retd) Waqar Noor, AJK Minister Raja Faisal Mumtaz Rathore, SAPM on Revenue Tariq Mehmood Pasha, Chairman FBR, Chief Secretary AJK, Secretary Finance AJK and senior officers from finance division also attended the meeting. Chaudhry Anwar Ul Haq discussed financial matters related to AJK and the pace of development schemes and projects in the region. He apprised the minister of the initiatives of the AJK government to enhance its revenue generation and sought the support of the Federal Government in this regard. He thanked the minister for extending support for the progress of the people of Kashmir.

Sherpao seeks lifting of ban on wheat movement

PESHAWAR APP

Qaumi Watan Party (QWP) Chairman Aftab Ahmad Khan Sherpao on Saturday asked the federal and Punjab governments to help lift the ban on the movement of wheat, a press release said.

He expressed these views while talking to a delegation of women party workers at Watan Kor, QWP headquarters in Peshawar. Aftab Sherpao said the flour prices had soared in Khyber Pakhtunkhwa due to the ban on the supply of the commodity from Punjab.

“This ban has caused resentment among the residents of KP,” he said, asking the government to help lift the restrictions to facilitate the people.

Rejecting the ban, he questioned whether KP was not part of the country.

The QWP leader demanded an end to the illegal and unconstitutional ban on the wheat movement in the province. He feared that the prices of flour would go up further if the government did not intervene and took steps to bring down the rates.

Expressing concern over the law and order in Khyber Pakhtunkhwa, he asked the government to take concrete steps to bring the situation under control.

The QWP leader said that the people felt insecure due to the poor security situation.

Aftab Sherpao also asked the government to take steps to fulfil the natural gas requirement of the consumers in KP particularly in the provincial capital.

Turning to the issue of inflation, he said that price-hike had made life miserable for the people, who were exposed to a host of problems. He said that the have-nots were unable to feed their children in the face of skyrocketing inflation.

Pak-China-Afghan strategic dialogue to strength regional stability: Abdul Qadir

ISLAMABAD STAFF REPORT

Chairman Senate Standing Committee on Petroleum and Natural Resources Senator Abdul Qadir on Saturday said the strategic dialogue between the Foreign Ministers of Pakistan, China and Afghanistan are very important and welcomed to establish an atmosphere of trust and cooperation between Pakistan and Afghanistan for regional peace and stability.

In a press statement, he viewed that the visit of the Chinese Foreign Minister will strengthen bilateral relations as well as Pakistan-Afghanistan relations will be boosted with the effective role of China.

He said that Pakistan and China are strategic partners and iron friends. Chinese Foreign Minister Chen Geng’s visit to Pakistan will strengthen strategic ties between the two countries and make practical cooperation more effective, integrated and deepened.

He said that the Chinese leadership believes in the philosophy of economic development and elimination of regional differences.

Qadir said that Afghan Interim Foreign Minister is also on a visit to Pakistan along with a high-level delegation, whose arrival in Pakistan is of extraordinary importance in view of the situation in both countries and the region.

The strategic dialogue between the Foreign Ministers of Pakistan, China and Afghanistan is very important and welcome. He said that during the visit, the strategic cooperation partnership between Pakistan and China will be confirmed and a roadmap for multilateral cooperation will be prepared.

He said that the visit of the Chinese Foreign Minister to Pakistan is a manifestation of frequent talks between the officials of the two countries. Pakistan and Afghanistan also need to continue discussing bilateral issues at the official level. He said that there is an urgent need to establish an atmosphere of trust and cooperation between Pakistan and Afghanistan for regional peace and stability. Both countries are suffering from insecurity and terrorism. If the two countries find a lasting solution to their mutual differences, terrorists will not get a chance to destroy the peace of the region.

intending pilgrims

required number. He said the main purpose of this entire exercise was to provide quality medicines to the pilgrims.

Talha told the media that he had never claimed to make state-of-the-art Hajj arrangements under his auspicious leadership this year clarifying that despite difficulties, he would try his best to provide ease and comfort to the pilgrims.

The minister, before briefing the media, also gave thought-provoking lectures to the male and female pilgrims under training here at the Haji Camp Islamabad separately. He realized how these training sessions

were important for them.

At the end, he also interacted with the Moavineen-e-Hujjaj under training there and urged them to be responsible while performing their duties during the entire Hajj operation.

On this occasion, the minister was informed that 36 Hajj assistants were not attending the training session without any prior information.

He directed that if they were not participating in the training session without any logical reasons, their nominations must be cancelled and others should be given a chance to serve the ‘Guests of Allah’.

THE DIESEL SMUGGLING RACKET AND IT’S LONG SHADOW

THE DEMAND FOR CHEAP, IMPORTED, PETROLEUM PRODUCTS HAS RISEN DRAMATICALLY

OVERa 909-kilometre stretch of land along the PakistanIran border, a small informal economy has developed around the art of smuggling.

And while everything from Iranian snacks to crockery are illegally transported along the Gabd-Rimdan line, the most precious commodity is diesel.

Early on Saturday morning, reports emerged estimating that smuggled Iranian oil has captured 25 to 30 percent of the diesel market in Pakistan. This untaxed, unaccounted for diesel in turn represents a huge loss to the govern-

ment’s coffers, which are being deprived of billions of rupees in taxes and import duties. And that isn’t the extent of the problem. Because cheap diesel is emerging from Iran and entering the market in massive volumes, local refineries are having to slash prices to keep up.

So what exactly is going on, how does this smuggling take place, and what impact does it have on Pakistan’s local petroleum industry? Already we are seeing reports filter in that Attock Refinery has reduced its operations to 25% capacity for five days stung by petrol smuggling. HOW IT WORKS

The smuggling of petroleum products into Balochistan from Iran has long

been a practice that has left Balochistan’s fuel economy relatively free from the shocks of the rest of the country’s fuel economy. The region of Balochistan extends into Iran, and the neighbouring country has a small province by the same name. The border is largely barren and sparsely populated and the common culture between people on either side of the border makes it extremely difficult to impose strict border regulations. Hundreds of thousands if not millions are involved in this illicit trade. And that has made this stretch of land into a Wild-West story. From small speed boats carrying diesel across the sea-route to experts on Toyota fourwheelers and motorcycles carrying can-

isters of petrol across the rough terrain with precision and circus-like acrobatics there is a whole different world out there. And its effects on Pakistan’s economy have been devastating. In Profit’s investigation on the matter, very little information is available in the public domain. For the most part the matter is kept under wraps due to a range of factors that are going to be discussed later in the article. For now let us focus on how diesel smuggling works. This year, as petrol prices continued to soar and inflation hit all-time high in the country, the demand for these cheap, imported, petroleum products has risen astoundingly.

CONTINUED ON PAGE 03

Why was the first quarter of 2023 remarkable for the banking sector of Pakistan?

g BANKS ENJOY INCREASED INCOME ON THE BACK OF INCREASED INTEREST RATES, LOWCOST DEPOSITS AND THE REVERSAL OF ADDITIONAL ADR-BASED TAX

CONTINUED ON PAGE 03

NADRA collaborates with Virtual Remittance Gateway to enhance digital payments ecosystem

g WITH THE NEW COLLABORATION, USERS CAN PAY THEIR UTILITY BILLS, NIS FEES, OBTAIN NIMS CERTIFICATES AND PERFORM INTEROPERABLE FINANCIAL TRANSACTIONS IN A HASSLE-FREE MANNER

launch multiple services. These services include a billing switch, NIS payment collection services, a unified USSD channel for collection service, and interoperable services at NADRA e-Sahulat centers to an extensive user base of 7.7+ million Asaan Mobile Account holders. Virtual Remittance Gateway (VRG) is Pakistan’s first PSO (Payment Systems Operator)/ PSP (Payment Systems Provider) that acts as an intermediary in various financial transactions. VRG is working towards interoperability between telecom providers and financial institutions, making remittances and transactions easier through technology.

NADRA and VRG’s collaboration marks a significant step forward for the digital financial services industry in the country. This partnership promises to bring unparalleled convenience and a seamless and secure experience to millions of people across the country. Speaking on the occasion, Chairman NADRA, Tariq Malik lauded “this collaboration is a unique opportunity to enhance the digital payments ecosystem.

Malik also highlighted the importance of digital payments in today’s world and how it had revolutionized the way people transact”. The partnership marks a significant breakthrough in providing Asaan Mobile Account Scheme users with the most efficient payment options. With this collaboration, they can effortlessly pay their Utility Bills, NIS fees, obtain NIMS certificates and perform interoperable financial transactions in a hassle-free manner, he added.

“The future of financial services is digital, and the scaling up of digital services with convenience will unlock the potential of the millions of Pakistanis, our core objective is to build global and local partnerships to facilitate digital payment and enhance digital financial services adoption by the underserved populations, including women, youth, the unbanked, and the underbanked.” said by the CEO VRG, Mr. Salman Ali.

Asaan Mobile Account (AMA) Scheme is now a landmark achievement for Pakistan in line with ‘financial inclusion and women empowerment’ goals serving 7.7+ million accounts and has processed 62 million transactions worth 59 billion PKR of financial transactions to date. The female accounts stand at 39% which has never been achieved earlier. The AMA Scheme is recognized by the World Economic Forum’s EDISON ALLIANCE network and has been showcased to 70+ countries. Furthermore, due to the achievements of AMA Scheme and its upcoming product’s road map, Pakistan has been under consideration to become a member of the Lighthouse Countries Network by the World Economic Forum. AMA scheme users will benefit greatly from this partnership, which also contributes to the government’s goal of promoting digital payments and making financial services available to everyone, thereby advancing financial inclusion.

Imran should not worry about next budget as facility of getting ‘selected’ no more available: Marriyum

Minister for Information and Broadcasting Aurangzeb said on Saturday that Imran Khan should not worry about next fiscal year’s budget as “the facility of getting selected was no more available and the facilitators had also gone”.

In a statement in reaction to Imran Khan’s remarks, she said that Result Transmission System now has been fixed in the country. The government which destroyed the economy, and caused unprecedented inflation and unemployment for four years will never come to power again, she maintained.

The minister said the government which isolated the country on the foreign front, closed the CPEC, and stopped the country's development process will not come to power again.

“Now the budget will be prepared only for the people and not for Farah Gogi and Bushra Begum&quot,” she said. Marriyum Aurangzeb said now flour, sugar, electricity and gas will not become the budget of the mafia, it will be the budget of the people.

Elections will be held, but the foreign agent, Toshakhana watch thief and Tyrian’s father will cry and shout on the streets, she said. Castigating Imran she said, he was claiming to stand with Supreme Court because he wanted to escape punishment in Tosha Khana, foreign funding, and Tyrian’s paternity case.

g AS PETROL PRICES CONTINUE TO SOAR AND INFLATION HITS ALL-TIME HIGH IN PAKISTAN,