G O V E R N M E N T T E N U R E T O C O N C L U D E O N A U G U S T 1 4 , P M A N N O U N C E S
SHEHBAZ Sharif announced on Wednesday that the government s term will conclude on August 14, following which the Election Commission of Pakistan (ECP) will declare the date for the upcoming gen-
eral elections The prime minister ’s statement followed a meeting on Tuesday between him and Maulana Fazl ur-Rehman the leader of the ruling alliance Pakistan Democratic Movement (PDM) During the meeting, the cleric reportedly emphasised the importance of dissolving the parliament and conducting elections as scheduled Recent reports have indicated that high-
ranking members of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) convened in the United Arab Emirates (UAE) last week
Allegedly these discussions resulted in a consensus on various matters, such as selecting individuals for the caretaker government and establishing a power-sharing arrangement if both parties emerge victorious in the next election
However, the PPP clarified in subsequent days that no “final decision” was reached during the overseas meetings among the leadership of the ruling coalition parties
During an address in Islamabad Sharif launched the Pakistan Education Endowment Fund worth Rs14 billion and announced reforms in the National Curriculum
During his speech the prime minister said that a budget of Rs3 billion has been al-
located for the endowment fund in the current fiscal year The funds will be utilized to provide scholarships directly to the youth, aiming to equip them with education and contribute to the nation s development
He emphasized the importance of education and expressed his desire to increase the allocation for the Pakistan Education Endowment Fund to one hundred and Rs40 billion over the next ten years
R s 1 5 0 0 | Vo l X I V N o 1 3 I 8 Pa g e s I I s l a m a b a d E d i t i o n In par tnership with
t h u rs d ay 1 3 Ju ly 2 0 2 3 I 2 4 Z i l H a j j 1 4 4 4
Profit
ISLAMABAD S ta f f R e p o R t
g D e v e l o p m e n t c o m e s o n h e e l s o f P M ’ s m e e t i n g w i t h M a u l a n a F a z l u r R e h m a n C O N T I N U E D O N PA G E 03
UN RIGHTS BODY PASSES PAKISTAN-LED MOTION ON RELIGIOUS HATRED AFTER DESECRATION OF HOLY QURAN IN SWEDEN
NEW YORK
Ag e n c i e S
TH E United Nations Human Rights Council on Wednesday approved a disputed resolution on religious hatred in the wake of desecration of the Holy Quran in Sweden
The resolution, introduced by Pakistan on behalf of the 57-nation OIC calls for the UN rights chief to publish a report on religious hatred and for states to review their laws and plug gaps that may impede the prevention and prosecution of acts and advocacy of religious hatred Pakistan had tabled the resolution in United Nations Human Rights Council in response to the desecration and burning of the Holy Quran in Sweden s capital Stockholm resulting in strong condemnation from several Muslim states including Pakistan the Organisation of Islamic Cooperation (OIC), the European Union, Pope Francis and the Swedish government, among others
It was strongly opposed by the United
LHC upholds detention of fashionista and co-accused in May 9 protests
LAHORE: The Lahore High Court (LHC) has announced its decision to dismiss the pleas filed against the detention of Khadija Shah and several other suspects who were involved in the violent protests against the unlawful arrest of former prime minister Imran Khan that took place on May 9 A two-judge bench, consisting of Justice Ali Baqir Najafi and Justice Amjad Rafiq, issued a comprehensive 26-page written verdict, upholding the legality of the detention of Shah Huma Saeed Rizwan Zia and Zubair Malik According to the court document the detention of the aforementioned individuals cannot be declared illegal at this stage The police promptly registered a case and initiated investigations into the matter, resulting in the identification of all individuals involved, in accordance with the law Protesters stormed military buildings ransacked the residence of a top army general in Lahore and set ablaze state buildings and assets in other places following Khan s arrest in a land fraud probe
The corruption investigations against Khan are two of more than 100 cases registered against him since his ouster in April of last year in a contentious no-confidence vote In most of the cases Khan faces being barred from holding public office if convicted with an election scheduled for November He has not slowed his campaign against the ouster even after being wounded in a November attack on his convoy as he led a protest march to Islamabad calling for snap general elections S tA f f R e p o R t
ATC allows more time for Rashid’s bail plea hearing
States and the European Union, who say it conflicts with their view on human rights and freedom of expression While condemning the desecration of the Holy Quran they argued the OIC initiative was designed to safeguard religious symbols rather than human rights
An Iraqi immigrant to Sweden desecrated the Holy Quran outside a Stockholm mosque last month, sparking outrage across the Muslim world and demands by Muslim states for action
The vote’s outcome marks a major defeat for Western countries at a time when the OIC has unprecedented clout in the council the only body made up of governments to protect human rights worldwide
Twenty-eight countries voted in favour, 12 voted against and seven countries abstained Representatives of some countries clapped after the resolution passed Marc Limon director of the Geneva-based Universal Rights Group, said the outcome showed the West is in full retreat at the Human Rights Council” “They’re increasingly losing
support and losing the argument, he said Michele Taylor, the US Permanent Representative to the UN Human Rights Council, said the United States’ concerns about the initiative “were not taken seriously” “I believe with a little more time and more open discussion we could have also found a way forward together on this resolution she said
After the vote, Pakistan s Permanent Representative to the UN in Geneva, Khalil Hashmi, accused the West of “lip service” to their commitment to prevent religious hatred “The opposition of a few in the room has emanated from their unwillingness to condemn the public desecration of the Holy Quran or any other religious book, he said They lack political, legal and moral courage to condemn this act, and it was the minimum that the council could have expected from them ”
Meanwhile Prime Minister Shehbaz Sharif said Pakistan welcomed the adoption of the resolution We are grateful to all the member countries of the UN Human Rights Council that supported the resolution moved
by Pakistan on behalf of the OIC he stated asserting that incidents like the desecration of the Holy Quran in Sweden could not be tolerated at all All religious symbols, holy personages and Divine Books are equally sacred for followers of all faiths Those indulging in such despicable and vile acts as
K ashmiris worldwide prepare to commemorate mar tyrs’ day today
conveying a powerful message to the world that the people of Jammu and Kashmir are committed to a peaceful resolution of the Kashmir dispute under the UN resolutions and are unwilling to accept Indian subjugation at any cost
Rallies, seminars, and conferences will also be held in Azad Kashmir and major capitals worldwide to pay tribute to the Kashmiri martyrs
On July 13 1931 during the court proceedings against Abdul Qadeer who had called upon the Kashmiri people to defy the despotic Dogra rule, the troops of Dogra Maharaja brutally killed 22 Kashmiris one after another outside Central Jail in Srinagar
ISLAMABAD S tA f f R e p o R t
People of Kashmir on both sides of the Line of Control (LoC) in Pakistan and around the world are set to observe Martyrs’ Day on Thursday to honour the martyrs of July 13 1931 and all other Kashmiri martyrs
As per Kashmir Media Service, occupied Jammu and Kashmir will wit-
ness a complete shutdown and a march towards the martyrs’ graveyard at Naqashband Sahib in Srinagar where the martyrs of July 13 are laid to rest
The All Parties Hurriyat Conference (APHC) has called for the observance of this day, with support from various pro-freedom leaders and organizations In a statement issued in Srinagar the APHC urged people to ensure the success of the shutdown and march
During the noon prayer a young man started reciting the Azaan and was shot dead by the Dogra soldiers Another youth bravely took his place and was also martyred by the troops This sequence continued until 22 youth sacrificed their lives by the completion of Azaan Since then Kashmiris have been observing July 13 as Kashmir Martyrs Day annually
A dec ade of progress: Reflec tions on CPEC celebration during Ahsan Iqbal’s visit
ISLAMABAD S tA f f R e p o R t
Federal Minister for Planning Development and Special Initiatives Prof Ahsan
Iqbal lauded the Chinese government s commitment to the China-Pakistan Economic Corridor (CPEC) which is the flagship project of BRI during a recent visit to China
The Minister recalled that the CPEC journey had started during Prime Minister Nawaz Sharif s visit to China and within a few years it grew to encompass more than USD 25 billion worth of projects ranging from energy to infrastructure and information technology
During different engagements he appreciated the active role and support of Chinese leadership and enterprises in
LAHORE: The Anti-Terrorism Court (ATC) in Lahore has approved a time extension for all parties involved in the bail request of Pakistan Tehreek-i-Insaf (PTI) leader Yasmin Rashid who is facing charges in three cases including an arson case During a hearing presided over by counter-terrorism judge Ejaz Ahmad Buttar on Wednesday, the decision was announced Rashid s lawyer requested additional time to adequately prepare their case which was taken into consideration by the court As a result the court directed the legal representatives of all stakeholders to present their arguments by August 7 allowing sufficient time for necessary preparations to be completed In a previous development, the ATC had rejected her post-arrest bail plea The case against Rashid relates to the “coordinated attacks” on military installations that occurred following the unlawful arrest of former prime minister Imran Khan on May 9 S tA f f R e p o R t
ISLAMABAD S tA f f R e p o R t
Barrister Syed Ali Zafar the chairman of the Senate Standing Committee on Law and Justice, on Tuesday observed that there were sufficient and important justifications for the creation of South Punjab and KhyberPakhtunkhwa’s Hazara region provinces
The Senate panel met with Barrister Zafar in the chair to discuss the creation of the two provinces Chairman Zafar pointed out that there was poor governance and lack of economic development in the areas that were further from Lahore and Peshawar in Punjab and KP respectively
He added that this distance was also creating daily communication problems for the residents of these two provinces The creation of the provinces would also address the economic and political marginalisation of the poor minorities who are living there ” he
particular during Pakistan s economic hardship Ahsan Iqbal hosted a dinner for the Chinese companies working on CPEC projects The dinner was followed by a cake-cutting ceremony to commemorate the decade of CPEC (2013-23) China and Pakistan would benefit from greater Chinese investment in Pakistan It would not only support Pakistan’s economy but also provide an avenue for Chinese companies to sell products manufactured in Pakistan in the Chinese market and elsewhere in the world, he added Chen Diming, Chairman of China Apollo Holding Group, and Xu Hao, senior representative of China Ocean Engineering Construction Company called on Minister for Planning Devel-
opment and Special Initiatives, Prof Ahsan Iqbal Chaudhary Prof Ahsan Iqbal Chaudhary held a meeting on Monday with Luo Zhaohui Chairman of the China International Development Cooperation Agency (CIDCA) in Beijing, and highlighted key projects that have been completed since the launch of CPEC a decade ago Prof Ahsan Iqbal co-chaired the 12th (Special) Joint Cooperation Committee (JCC) of China Pakistan Economic Corridor (CPEC) with Vice Chairman National Development & Reform Commission (NDRC), China Mr Cong Liang at the NDRC office The 12th JCC meeting was resolved on Tuesday to make the next decade glorious building upon a foundation in the last 10 years
Tribal war over land leaves 11 dead in KP
PESHAWAR A n A d o l u Ag e n c y
Fierce fighting between two rival tribes in the northwest over a piece of land claimed another two lives on Tuesday raising the casualties to 11 over the past five days officials and media reported The clashes involving heavy weapons, including rockets from both sides, have brought life to a standstill in several parts of the Khyber Pakhtunkhwa’s Kurram tribal district which sits on the Afghanistan border Confirming the fresh casualties Kurram s Deputy Commissioner Syed Saif-ulIslam told reporters that tribal elders are negotiating with the rival groups in an attempt to halt the clashes
Some 67 people from both tribes, including unarmed tribes-
maintained At the same time as the number of smaller provinces increases, the federation will become stronger ” he added Chairman Zafar however pointed out that while considering the creation of the new provinces it must not be based on ethnic as well as linguistic grounds only but should be formed on administrative lines and population H e c o n t i n u e d t h a t w h i l e considering all these issues the committee m u s t a l s o k e e p i n m i n d w h e t h e r o r n o t P a k i s t a n w a s a b l e t o c a r v e o u t n e w provinces with the current resources in the prevailing tough economic conditions Secondly, he questioned whether the provinces being proposed would be economically viable units Chairman Zafar also drew the attention of the participants of the meeting that after the creation of the new provinces there would be a separate cabinet governors assemblies, high and district courts, as well as ministries and departments He said the
men, have been injured in the clashes, health officials said Seven people, including five teachers, were killed in May this year when gunmen opened fire in a high school in the Shia-dominated Parachinar town the administrative headquarters of Kurram district Minister for Overseas Pakistanis Sajid Hussain Turi, who hails from Kurram, told reporters that he himself is involved in negotiations aimed to broker a cease-fire between the rival tribes He hinted that army troops could be posted in the region to contain clashes The Human Rights Commission of Pakistan (HRCP) in a statement said there are alarming reports of rising militancy feeding into local conflicts in the region The human rights group urged the government to immediately undertake to resolve all sectarian differences peacefully and restore law and order to this region
quota of the new provinces in the federal service would have to be catered for The chairman continued that separate new provincial cadres would have to be created This would also have an impact on the Senate because for example if Punjab is divided into two provinces, it would increase the province s strength in the upper house of parliament and that might not be acceptable to other provinces ” he noted The chairman observed that the committee would also have to satisfy itself as to how the resources would be divided and how the National Finance Commission (NFC) Award would be reconsidered He also pointed out that matters relating to the distribution of canals would also arise The committee extensively debated on the matter and came to the conclusion that new provinces needed to be created in Pakistan – not just in Punjab and K-P but in other parts of the country as well However, all the questions raised by the chairman needed to be answered and all
stakeholders, including the leadership of all political parties, must be heard to reach a consensus It was felt that with the Punjab and K-P assemblies having been dissolved and the National Assembly s tenure coming to an end in July-August this year the time was inappropriate for bringing all stakeholders on board
Nonetheless, it was felt that the Senate panel must begin its work on the matter by calling the party heads or representatives as well as other stakeholders for their opinion on the issue The senators were extremely unhappy with the law ministry for failing to provide the reports from the other ministries on the creation of new provinces The chairman directed the law ministry to file the reports within two weeks failing which action might be taken against those responsible for the negligence
The committee then took up the matter of the Kishanganga Hydroelectric Project dispute As the law ministry has not pre-
the burning of the Holy Quran in the name of freedom of expression need to be called out publicly PM Shehbaz added that humanity was better served by a consensus on the resolve to safeguard our shared values of religious tolerance, pluralism and respect for all faiths”
$3b foreign aid: PAC seeks NAB, FIA , AGP repor ts on loans to 620 borrowers
ISLAMABAD: The Parliament s Public Accounts Committee (PAC) on Wednesday directed the NAB, FIA and Auditor General Pakistan (AGP) to submit report about $3 billion foreign aid given as easy loans to 620 organizations during PTI government During an in-camera session of the Public Accounts Committee (PAC), Chairman Noor Alam Khan informed the participants that the loans were given to businessmen on three to five percent interest rate PML-N member in the PAC Barjees Tahir said that eight banks had played pivotal role in devaluation of Pakistani currency emphasizing names of these 620 individuals or businesses should be unveiled On the occasion, the PAC members recommended an inquiry of the matter on merit “$3 billion amount to Rs900 billion in Pakistan currency ” Barjees Tahir said “No person even a minister has been above the law I am asking chairman NAB to check my assets Noor Alam said and added that this is a poor country $3 billion are massive amount Wajeeha Qamar demanded forensic audit of the matter In a previous PAC session, the State Bank refused to share the list of 620 borrowers who had been given $3 billion loans on zerointerest The central bank issued $3 billion s loans on April 19 2021 to 620 borrowers on zero-interest rate for a period of 10 years the PAC chairman said To which, the Finance Secretary replied: It was the State Bank s refinance scheme and the central bank has been entitled to launch such scheme under 1956 Act ” The SBP Governor has refused to share the list of 620 borrowers with the PAC despite vehement demand The exchange of all information between the bank and customers being kept secret and could not be shared with anyone,” the finance secretary also endorsed the governor’s stance However the PAC chairman insisted that “It is the state money it must be unveiled how much money was borrowed and by whom S tA f f R e p o R t
Dr y, humid weather expected in most par ts of countr y
ISLAMABAD: Pakistan Meteorological Department (PMD) has predicted mainly hot and humid weather in most parts of the country However according to the met office rain-thundershower is expected in Pothohar region northeast Punjab upper Khyber Pakhtunkhwa, Kashmir and Gilgit Baltistan
Temperature of some major cities recorded Wednesday morning: Islamabad twenty-seven degree centigrade, Lahore and Peshawar twenty-eight Karachi thirty Quetta twentytwo Gilgit and murree sixteen and Muzaffarabad twenty-two degree centigrade
According to weather forecast of Met Office for Indian Illegally Occupied Srinagar, Leh, Pulwama and Shopian, partly cloudy weather with chances of rain wind while partly cloudly and dry in Anantnag and Baramula and hot and dry in Jammu Temperature recorded on morning in Srinagar Pulwama and Anantnag 17degree centigrade Jammu 27 Leh 10
Shopian 16 and Baramula 18 degree centigrade S tA f f R e p o R t
pared its reply, it requested the committee that representatives from the attorney general for Pakistan’s Office might also be called for an in-camera briefing The panel agreed to give time to the law ministry deciding that a separate session would be held for this purpose alone
The committee summoned the assistant commissioner, public prosecutor and police department They were called to give an inperson briefing of the attack by lawyers on Pir Mahal the assistant commissioner in Punjab The panel wanted to know what progress had been made in the case as well as whether the assistant commissioner was satisfied with the prosecution and investigation so far The committee also expressed its satisfaction over the prompt appointment of the members of the National Industrial Relations Commission However the panel required the law ministry to submit a report on merit for the appointments whether due process in the recruitments was followed
Th d y 13 J ly 2023 | ISLAMABAD 02 NEWS
S e n ate p a n e l b a c k s c re at i o n o f S o u t h Pu n j a b, H a z a r a p rov i n c e s
J C C R E S O LV E S T O M A K E N E X T D E C A D E
G LO R I O U S F O R C P E C
ISLAMABAD S ta f f R e p o R t
TH E 12th Special Joint Cooperation Committee (JCC) meeting, held here, resolved to build upon the foundation laid in the last 10 years and make the next decade glorious Ahsan Iqbal the Federal Minister for Planning Development & Special Initiatives, co-chaired the 12th (Special) JCC of the China Pakistan Economic Corridor (CPEC) alongside Mr Cong Liang, the Vice Chairman of the National Development & Reform Commission (NDRC) of China at the NDRC office in Beijing
JCC also emphasized the significance of key projects in energy, IT, transportation, and infrastructure development These projects are now operational and providing numerous opportunities for socio-economic development in Pakistan
Earlier in his remarks at the meeting
Government tenure to conclude on August 14, PM announces
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at JCC Ahsan Iqbal has said there is a massive potential for expanding PakistanChina relations in the areas of agriculture, industry, technology and mining
Ahsan Iqbal noted that CPEC is a remarkable endeavour that symbolizes the deep-rooted ties between China and Pakistan He recalled that this monumental proj-
ect initiated under the visionary leadership of President Xi and the then Prime Minister of Pakistan Nawaz Sharif, had been instrumental in transforming the economic landscape of the region It has fostered connectivity enhanced trade and opened up new avenues for shared prosperity
The Minister emphasized that CPEC is
Pakistani automotive industr y sees out worst fiscal year since pandemic
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the topmost national priority of the Pakistan-China All-Weather Strategic Cooperative Partnership and these avenues provided an opportunity to consolidate successes and further enhance potential future cooperation
Ahsan Iqbal reiterated Pakistan s commitment to provide consistent policies and conducive environment for Chinese companies and citizens working in Pakistan according to Gwadar Pro
During the meeting the conveners of the Joint Working Groups (JWGs) on Energy, Transport Infrastructure, and Gwadar Port made presentations highlighting the progress on their specific areas and informed about the future plans of actions
The JCC also highlighted the significance of the key projects for energy and infrastructure development; which are now operational and providing a myriad of opportunities for socio-economic development in Pakistan
Govt crawls across IMF finish line
CONTINUED FROM BACK PAGE
He highlighted that promoting education is crucial for the progress and development of the country The prime minister also mentioned the establishment of the Punjab Education Endowment Fund in 2008 which has provided scholarships to 450 000 students He underscored that special attention should be given to underdeveloped areas and reiterated the need for meaningful and relevant education to enable Pakistan to compete effectively on a global scale As the current government’s tenure ends next month the Prime Minister emphasized that the incoming government should prioritize education to uplift the nation The prime minister acknowledged the financial assistance received from China, Saudi Arabia, and the UAE during challenging times However, he emphasized the need for selfreflection to ensure that the country is on the right path Minister for Education Rana Tanveer Hussain in his remarks highlighted that the endowment fund scholarships would be awarded in various disciplines, including nursing, engineering, and social sciences The minister also commended the inclusion of the Constitution of Pakistan in the syllabus stating that it is an important milestone that will enhance the youth s understanding of their rights and responsibilities Hussain further mentioned the government s efforts to promote quality education and ensure that out-of-school children are enrolled in educational institutions N
i n R i v e r S u t l e j
LAHORE: National Disaster Management
Authority has warned against expected high flood in River Sutlej in next 48 hours The low-lying areas along the river could be affected by the likely impact India has discharged water from Harike and Ferozepur in River Sutlej in downstream areas on Tuesday National Disaster Management Authority has said that the floodwater will cause inundation in low lying areas and villages flooding of crops along River Sutlej and overtopping of roads India is going to release more water into the river because of persistent rains in the catchment areas It was in 1988 that Pakistan had witnessed worst flooding in the two eastern rivers – Ravi and Sutlej – which devastated crops and livelihoods over thousands of acres The NDMA has directed the authorities concerned to continuously monitor the situation at Jassar a border town of Narowal district and Trimmu Barrage in Jhang district, which regulates the flow of River Chenab The Met Office has predicted rainfall under the influence of a westerly wave from July 13 to 17 as monsoon currents from Arabian sea likely to penetrate in upper and central parts of the country from July 12 (today) which likely to intensify by July 14th It said heavy rains might cause urban flooding in low-lying areas of Islamabad
Rawalpindi Peshawar Gujranwala and Lahore from July 14 to 17 as well as triggering landslides in Murree Galliyat Kashmir, Gilgit-Baltistan and Khyber
Pakhtunkhwa during the period Rain/windthundershower is also expected in Barkhan, Loralai Kalat Khuzdar Zhob Lasbella
Awaran Musakhel D G khan Rajanpur
Multan Bhakkar Layyah Kot Addu
Sukkur Jacobabad Nagarparkar Tharparkar
Umerkot, Sanghar, Mirpur Khas from 14th to 16th July S ta f f R e p o R t
ISLAMABAD
S ta f f R e p o R t
Washington has again reiterated its stance that Pakistan is not being coerced into choosing between the United States and China, emphasising that the relations between the two nations are built upon their longstanding people-to-people ties
In a news briefing on Wednesday
Matthew Miller, a spokesperson of the State Department, addressed a statement made by deputy foreign minister Hina Rabbani Khar in which she had expressed Pakistan’s reluctance to engage in the escalating global ri-
Meanwhile the finance ministry was being made to jump through hoops of prior actions by the IMF They were asked to get prior assurances from their bilateral creditors set dollar rate to market rate raise policy rates tariffs and taxes
It came to the point where the fund expressed its wish to review the country s budget Even after the budget was presented, the fund did not seem impressed A statement made by the fund’s representative Ester Perez Ruiz came down hard on the budget
It came to a point where the finance minister on the 16th of June was found accusing the fund of being cognizant of greater geo-politics against Pakistan
B E H I N D T H E S C E N E S:
While the finance minister was up and running with his fiery claims of making it without the IMF program The Prime Minister took it upon himself to make all the efforts to restore the program PM Shehbaz Sharif was reported to hold telephonic conversations with the IMF mission chief Nathan Porter on multiple occasions over the last two
months Amidst the chaos, the PM also met with the head of the International Monetary Fund on the sidelines of a global financing meeting in Paris Lo and behold within one week a new budget was tabled presented and approved The policy rate was hiked and the country was able to announce a new standby arrangement right at the expiry of the previous EFF which did not bear fruit
W H AT N E X T?
After the board approval came on Wednesday, talking to Profit, the CEO of topline securities, Muhammad Sohail said that, “This loan will provide much needed stability to Pakistan at a time when Pakistan will see transfer of power from one government to caretakers and then to New government Besides this this will further help in getting bi lateral and multilateral loans thereby supporting the falling FX reserves and inflationary pressures ”
While talking to a ceremony regarding Pakistan Education Endowment Fund in Islamabad the PM Shehbaz Sharif confirmed his willingness to hold an election He said that his government will leave office by the
14th of August, making way for the new interim setup
However on the subject of IMF Sharif said that the IMF programme is not something to be proud of but is a time of self retrospection
Meanwhile, the IMF statement after Wednesday s board meeting said the SBA would focus on: various aspects like Implementation of the FY24 budget to facilitate Pakistan’s needed fiscal adjustment and ensure debt sustainability while protecting critical social spending
A return to a market-determined exchange rate and proper FX market functioning to absorb external shocks and eliminate FX shortages;
An appropriately tight monetary policy aimed at disinflation; and
Further progress on structural reforms, particularly with regard to energy sector viability, SOE governance, and climate resilience
With the dangers of default momentarily averted all eyes are set on the upcoming elections for it will be the future government that would be able to give the country a new economic direction Something that even the IMF is aware of
C hina’s Huawei poised to overcome US ban with return of 5G phones, research firms say
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5G FORECASTS
One of the research firms said it expected Huawei to use SMIC s N+1 manufacturing process though with a forecast yield rate of usable chips below 50%, 5G shipments would be limited to around 2 million to 4 million units
A second firm estimated shipments could reach 10 million units without providing further details Huawei shipped 240 6 million smartphones worldwide in 2019, its peak year, according to Canalys, before selling its Honor unit that accounted for nearly a fifth of shipments that year
The state-backed China Securities Journal newspaper this month reported Huawei had raised its 2023 mobile shipment target to 40 million units from 30 million at the start of the year, without referencing a return to 5G phones
A Huawei logo and a 5G sign are pictured at Mobile World Congress (MWC) in Shanghai Huawei could produce 5G versions
of flagship models like the iPhone rival P60 this year with new launches likely in early 2024, the three research firms said, adding they were basing such predictions on information they had received via checks with contacts in Huawei’s supply chain and recent company announcements
However
U S restrictions cut Huawei off from Google s Android operating system and the bundle of developer services upon which most Android apps are based, limiting Huawei handsets’ appeal outside of China
CHIP DESIGN TOOLS
The research firms noted Huawei in March announced it had made breakthroughs in electronic design automation (EDA) tools for chips produced at and above 14 nanometre (nm) technology
Chip design companies use EDA software to produce the blueprints for chips before they are mass manufactured at fabs
The research firms, citing their own industry sources, believe Huawei’s
EDA software could be used with SMIC s N+1 manufacturing process to make chips at the equivalent of 7 nm, the powerful semiconductors typically used in 5G phones Washington barred SMIC from obtaining an advanced chipmaking tool called an EUV machine from Dutch firm ASML (ASML AS) that is critical in the process of making 7 nm chips
But some analysts have found signs SMIC has nevertheless managed to produce 7 nm chips by tweaking simpler DUV machines it could still purchase freely from ASML
The second research firm said it noticed Huawei had asked SMIC to produce chip components below 14 nm this year for 5G products
The forecast yield rate of less than 50% means that 5G chips are “going to be costly said Doug Fuller who researches chips at the Copenhagen Business School I guess if Huawei wants to eat the cost they can do this, but I don t see such chips as price competitive,” Fuller said
FY 2022 Qingqi was the market leader in the three wheeler segment as it sold 6 300 units in FY 2023 down by 54 8% from 13 935 units in FY 2022 Sazgar was the second largest player in the three wheeler segment, as it sold 9,381 units in FY 2023 down by 40 2% from 15,683 units in FY 2022 Road Prince and United were the smallest players in the three wheeler segment as they both sold only around 1 700 units each in FY 2023 down by more than two-thirds from around 90 000 units each in FY 2022 Ravi, Yamaha and Road Prince were the other notable players in the two wheeler segment, as they sold between around 600 to around 13 000 units each in FY 2023 down by more than half from between around 4 000 to around 90 000 units each in FY 2022 United was the only other notable player in the three wheeler segment, as it sold 1,708 units in FY 2023 down by 45 9% from 3,156 units in FY 2022 I N T E R E S T I N G T I D B I T S
The data shows that the market share of passenger cars decreased from 10 6% in FY 2022 to 7 2% in FY 2023, while the market share of two wheelers and three wheelers increased from 82 6% in FY 2022 to 88%in FY 2023 The data also shows that the market share of trucks and buses decreased from 0 3%in FY 2022 to 0 3% in FY 2023 while the market share of tractors decreased from 2 7% in FY 2022 to 2 3%in FY 2023 Suzuki s Swift was the only car model that showed an increase in sales in FY 2023 among the major car manufacturers, as it sold 9 339 units up by 50 8% from 6 190 units in FY 2022 Hyundai s Tucson was the only car model that showed a minimal decrease in sales in FY 2023 among the established players, as it sold 4,774 units, down by only 2 5% from 4,895 units in FY 2022 Sazgar s Haval was the only car model that showed a significant increase in sales in FY 2023 among the newcomers as it sold 1 657 units up by 291 4% from 467 units in FY 2022
Kohistan: Six people dead as jeep plunges into gorge
KOHISTAN: At least six passengers were killed when a jeep carrying nine passengers fell into a gorge near Barparo Kohistan sources said on Wednesday According to details six people including three women and a girl were killed in the road crash near Barparo in Kohistan Three other passengers sustained wounds The police said the passenger jeep fell into a ditch while taking a turn near Barparo The bodies of the dead and injured have been shifted to a local hospital? In a separate tragic incident in the month of March, at least four people were charred to death after a car they were travelling in caught fire after plunging into a gorge in Rawalpindi S ta f f R e p o Rt
Cement manufac turers, elec tricit y customers in for a treat as coal prices tumble
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Cement margins should expand, explains Yousuf Farooq, Director of Research at Chase Securities “Cement players use around 130 kg of coal per tonne of cement produced So a $10 (Rs 2 770 at a spot rate of $1 to Rs 277) per tonne decline in coal prices has a pre-tax impact of around Rs 360 per tonne
Does this mean that cement manufacturers in the South those closer to the port will have an advantage over those in the North? Afghan coal prices should drop further Farooq adds Afghan coal prices
valry between the US and China
Dispelling any notions of undue pressure, Miller responded: “No, the United States does not ask Pakistan or any other country to choose between the United States and the PRC [People s Republic of China] or to choose between the United States and any other country He further elaborated on the nature of bilateral relations, highlighting the importance of people-to-people connections He also emphasised Washington’s commitment to nurturing this partnership and expanding economic ties with Pakistan Our economic cooperation with Pak-
will come under further pressure as cement players are now able to import coal by sea ” “All cement players will benefit from this decline in coal prices ” Farooq continues Profit before tax was around Rs 2 0003 000 per tonne in 3QFY23 These margins are likely to increase going forward R E S P I T E F O R E L E C T R I C I T Y C U S TO M E R S?
“Cement manufacturers will indeed see their margins increase explains Fahad Rauf Head of Research at Ismail Iqbal Securities But more importantly, it is also significant from an economic perspective because we also
istan reflects our vision for the region as one comprised of independent, strong, and prosperous nations Our relationships are based on a spirit of respect and partnership,” said the spokesperson
Since its arrival in April of last year the government of the Pakistan Democratic Movement (PDM) alliance has struggled to pivot away from a single-issue transactional relationship with the US
“Our relationship with the United States has been coloured too much by the geopolitical context in our region and particularly by the events and circumstances in Afghanistan Bilawal Bhutto-Zardari told
reporters at the United Nations during his first visit to the US as foreign minister in May last In his briefing, Miller also addressed the staff-level agreement between Pakistan and the International Monetary Fund (IMF) which concluded with a $3 billion bailout package for Pakistan While not explicitly confirming Washington s role in assisting Pakistan in securing the deal, the official expressed solidarity with the people of Pakistan during these challenging times
Acknowledging the progress made between Pakistan and the lender the spokesperson said: We welcome the progress that has
already on the decline and impact of recent decline will follow in coming months
However unlike the benefit customers are set to reap, Rauf states that the industry will not benefit from a reduction in circular debt stating that “Circular debt is mainly due to capacity payments not fuel charge ”
- C hina dilemma
been made between the IMF and Pakistan in having reached a staff-level agreement, further vowing unwavering support for Islamabad’s economic success
The US intends to maintain its engagement with Pakistan through technical collaborations and strengthen trade and investment ties which are considered priorities in the bilateral relationship The spokesperson emphasised that Pakistan still faces considerable work ahead to achieve longterm sustainable economic recovery and prosperity However the US government reassured its commitment to standing by Pakistan throughout this process
Th d y 13 J ly 2023 | KARACHI NEWS 03
S tate Depar tment rejec ts spec ulation of forcing Pakistan into US
FROM BACK PAGE Ghandhara’s truck sales decreased from 3,182 to 1,627 units, while its bus sales increased slightly from 123 to 137 units In the tractor segment sales experienced a heavy drop of 47% from 58 947 to 30 942 units Al-Ghazi s sales decreased from 23,942 to 12,320 units and Millat Tractors sales decreased from 35,005 to 18,622 units Two wheelers and three wheelers segment: Honda holds the fort as the industry dips The sales of two wheelers and three wheelers saw a minor dip by 34 4% from 18 21 lakh units in FY 2022 to 11 87 lakh units in FY 2023 The data provided by the user shows that Atlas Honda was the market leader in the two wheeler segment, as it sold 10 05 lakh units in FY 2023 down by 26 1% from 13 60 lakh units in FY 2022 Suzuki was the second largest player in the two wheeler segment as it sold 29 274 units in FY 2023 down by 22 6% from 37,846 units in FY 2022 Qingqi was the smallest player in the two wheeler segment, as it sold only 58 units in FY 2023 down by 19 4% from 72 units in
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generate a considerable chunk of electricity from imported coal ” To be precise, Pakistan annually imports almost 19 million tonnes of coal (having tripled since 2015) half of which is consumed by the power sector according to the International Growth Centre This will impact the cost of generation in the country because coal-based power generation accounts for about 15-18% of the generation mix and roughly 70% of the coal used for generation is imported ” explains Mustafa Mustansir Director Research and Business Development at Taurus Securities 11MFY23 share of coal-based power generation in the overall generation mix was 16%, Mustansir adds If international coal prices continue to tread downwards we may see the proportion of coal-based power generation increase given peak demand during summer months ” Strictly in terms of energy will customers benefit from lower tariffs and will the sector benefit from lower circular debt? Yes but it s difficult to quantify posits Mustansir It will have a direct impact on fuel cost adjustments Whilst Mustansir leaves much to the imagination, Rauf
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The triangle
Pakistan-US relations and Pakistan-China relations must be kept apar t
TH E US State Department spokesman s reaction to the Pakistan Minister of State for Foreign Affairs Hina Rabbani Khar s statement that Pakistan had no wish to engage in any rivalry between the USA and China was that the USA did not ask any country to choose between it and another country, particularly China This follows on previous statements by the USA that it was not forcing any choices It seems that this should be taken at face value by Pakistan, and it should not go around picking one over the other when neither is asking it to do so The USA has tried to use India as a counterweight to China, and has grown closer to it That has created the impression that Pakistan has been repelled, and has been using its already close relationship with China, with the result that it has been drawing away from the USA There are some factors which have been duly removed Perhaps the most important spoiler in the Pak-US relationship in recent times was PTI chief Imran Khan s claim that his government was removed as the result of a US conspiracy in collusion with the opposition and facilitators within the establishment At the same time, China looked dimly upon the apparent foot-dragging by the PTI government over the flagship CPEC Incidentally, even before the PTI took office, the USA had been warning Pakistan against CPEC The USA also recently used the IMF to convey its resentment, but it is its agreement in the end that helped Pakistan strike a deal over a standby agreement Pakistan is not beyond going against US dictates Its failure to support the USA over Ukraine obviously rankles, but it has not supported Russia either As it attempts to build ties with a country it has neglected to its cost, it has also been supportive of China, but there are a host of issues on which Pakistan and the USA are in agreement Pakistan should adopt its own form of isolationism, in which it follows its best interests, and most importantly, does its best to stay above the fray in any US-China clash There is no need to take sides, especially when no one is asking that sides be taken Neither side must take Pakistani support for granted, and must be accorded it on an issue-to-issue basis The USA must also understand that its growing closeness to India cannot leave its relations with Pakistan unaffected
Dedicated to the legac y of late Hameed Nizami
Arif Nizami (Late)
Founding Editor
Yousaf Nizami Editor
M A Niazi
Joint Editor Umar Aziz Executive Editor
d R Fa R i d a M a l i k
EV E R since Mariyam Safdar daughter of Nawaz Sharif and his political heir has returned from London after stabilizing the platelets for her ailing father, she has been talking about the need for a level playing field
On 19 November 2019, Nawaz Sharif left for London after faking his ailment Since then he has been residing there under the treatment of Dr David R Lawerance of Sri Lanka On 4 September 2022 Dr Lawerance submitted a medical report to the Lahore High Court which included a long list of life-threatening ailments but no mention of the current platelet count of his patient on the basis of which bail was granted
It reminded me of Dr Mukhtar Randhawa who practiced medicine on Nabha Road right next to the gate of the Income Tax office He was a retired police surgeon who had a reputation of issuing certificates as required by his patients There was another character called Chacha Emboss who was based in Istanbul in the 1980s and 1990s He single-handedly issued fake visas and international driving licensees to his fellow countrymen enabling them to enter Switzerland to buy used goods which were then sold to the Turks He was finally apprehended and convicted when the civilian government came into power in Turkey
A level playing field is a myth in the politics of Pakistan
According to Ex-PM Shahid Khaqan Abbassi every election since 1970 has been rigged in the land of the pure His party claims that in 2018 PTI (Pakistan Tehreek-e-Insaf) was brought into power by the establishment I could not vote in 1970 being under age but since then I have voted in every election
Despite my stay abroad my late father Nazir Ahmed Malik, a worker of the Freedom Movement, insisted that I must exercise my right to vote and be counted in my homeland The electoral exercise in 2018 was very orderly and peaceful mainly because the police were kept out There were allegations of pre-poll rigging and arm twisting of the electables to join the PTI Some observers believe that even the 1970 contest was not totally free and fair
Firstly, the establishment did not take seriously the public support of Awami League and People’s Party A hung parliament was expected The Military Junta was of the opinion that Mujib’s Six Points were negotiable; so did Bhutto but in the end Jinnah s Pakistan was dismembered Bangladesh emerged on the world
map after the surrender of the troops in Dhaka
In cricket neutral umpiring and helmets were introduced very late Finally, the game changed for the better after about a century Pakistan is still 24 years away from this milestone Pitches are prepared by groundsmen who are employees of the Cricket Boards They are required to follow the directives of the executives above them For a level playing field electoral contest the groundsmen report to the Election Commission of Pakistan (ECP) which must ensure total neutrality When Justice Fakhar-Ud-din G Ibrahim (Fakhru Bhai) was appointed CEC in 2012 it was expected that the election in 2013 would be free and fair but it was not Fakhru Bhai resigned and went home His lips were sealed till his death It was perhaps the bumpiest innings of his life from which he never recovered He failed in providing a level playing field for all the contesting players The groundsmen defied his orders in preparing the pitch The PTI Chairman marched in protest to Islamabad on 14 August 2014 demanding a re-election
bureaucracy, that is why he mandated appointment of Judges of the superior judiciary for this position
As the experiment has failed judges should return but with a stronger mandate to control the groundsmen
A credible election is the only way forward for which complete neutrality of the system is mandatory
Those who were parachuted into power, played with their own umpires, prepared their own pitches with the collaboration of groundsmen have no chance when they take on the field which is level and neutral
A level playing field is for those individuals who revere dignity and honour who do not fake their ailments to gain favours or freedom Those who do defy courts and judges yet appear before them and even attack them to stall their conviction under the law
S u ch a c o n t e s t w i l l t h e n b e r e m e m b e r e d a n d r ev e r e d by h i s t o r y fo r a l l t i m e s t o c o m e ; o t h e rs w i l l j u s t f a d e aw ay a s n i g h t m a r e s t o b e e r a s e d f ro m m e m o r y.
The dharna continued till December 17 and was finally called off after the Army Public School attack in Peshawar which resulted in the loss of innocent lives
Currently the parties in power are meeting in Dubai to prepare desirable pitches for the next electoral contest while propagating the need for a level playing field A field that has been cordoned off with the help of the ‘groundsmen’ for the largest and most popular political party of the republic The match is expected to be played in October this year
Despite the constitutional requirement and orders of the Supreme Court of Pakistan, the ECP failed to organize the contest in the stipulated period as the groundsmen’ refused to prepare the pitch First ECP has to establish its neutrality followed by compliant groundsmen Unless the groundsmen are neutral like the umpires operating under the watchful eye of the camera the electoral contest will be neither free nor fair The current CEC has been controversial
After the promulgation of the 1973 constitution he is the first bureaucrat to head the commission but has miserably failed to perform his duties
Bhutto did not have faith in the neutrality of the
Autocratic vs. Democratic Succession
Pacific region to support its interests, but so far with little success It lacks international defense agreements and overseas logistic bases stocked with military supplies which limits its ability to pursue ambitious global goals China finds it difficult to match the unique set of competitive advantages of the USA, most notably its extensive network of partnerships and alliances The fact that China is the largest trading partner for more than 120 countries however makes it impossible to ignore its rise in the global economy China is making enormous investments to solidify its position because it understands the necessity of technological independence and sees this as a necessary step for both economic growth and national security
tions have both tried to use their clout in the region to persuade allies to cut ties with the PRC and unite against China In particular Biden has stepped up US diplomatic efforts in the area, renewing commitments to economic and security cooperation However, a more cautious and subdued approach would best serve the interests of the USA if it wanted to increase its influence and stature in Asia
Clients of ‘Chacha Emboss’ were able to pursue lucrative business opportunities in Europe through fake travel documents but the evil system was eventually busted The same approach was adopted in the use of Calibri Font by the Royal Family’ of Pakistan which got exposed The PPP under the Bhuttos remained on its ideological course which is long gone under the Zardaris of Nawabshah Now they prepare their own pitches as was seen in the recent Mayoral contest in Karachi At least they still believe in elections on their specified timing There should be a grand consensus on level fields neutral umpires, subservient and obedient groundsmen who only follow the legal and constitutional directives S u c h a c o n t e s t w i l l t h e n b e r e m e m b e r e d a n d revered by history for all times to come; others will j u s t f a d e a w a y a s n i g h t m a r e s t o b e e r a s e d f r o m memory Pakistan and its suffering masses have to move forward under rule of law and the Constitution While platelets keep humans alive nations are b u i l t o n t h e f o u n d a t i o n s o f h o n e s t y a n d i n t e g r i t y and never without it Now that Nawaz Sharif has decided to come back to the field there must be a credible report on his current platelet count before he is allowed to play as his medical condition may not be conducive as reported by Dr Lawerance of Sri Lanka who practises in London and prepares reports as required by his clients for the courts in Lah o r e , d i r e c t l y c o m p e t i n g w i t h D r R a n d h a w a o f Nabha Road
The writer is ex-Chairman Pakistan Science Foundation He can be contacted at: fmaliks@hotmail com
E d i t o r ’ s m a i l
S e n d y o u r l e t t e r s t o : L e t t e r s t o E d i t o r Pakistan Today 4 - S h a a re y F a t i m a J i n n a h L a h o re P a k i s t a n E - m a i l : l e t t e r s @ p a k i s t a n t o d a y c o m p k L e t t e r s s h o u l d b e a d d re s s e d t o Pakistan Today e x c l u s i v e l y
Political turmoil
I belong to the generation that had migrated to Pakistan; some perched on the shoulders of their fathers some in the arms of their mothers not knowing why they were leaving their homes and what actually was the ultimate destination
SI N C E the end of World War II in 1945, the USA has taken on the role of a steadfast protector of international law and a bulwark for the upholding of democratic principles all over the world It has successfully halted the rise of regional and global dominators due to its dominant position Contrary to its soaring goals, the USA has paradoxically found itself at the center of both conventional and non-conventional wars on every continent which is a lasting testament to both its skill at fighting wars and the scope of its influence The US combat experience is documented in the annals of history, including the epic theatre of World War II, the merciless Korean War, the long quagmire of the Vietnam War, and the interventions in Panama and Grenada Additionally it has demonstrated its military prowess in the First Gulf War Kosovo and the protracted engagements in Iraq and Afghanistan
In stark contrast, China, a rising power, has sought to exert its influence through the clever use of its economic might To this end, it has employed a variety of strategies, from a charm offensives to the expansive Belt and Road Initiative (BRI) China has made a concerted effort to persuade US allies and partners in the Indo-
The goal would be a more stable relationship marked by decreased conflict risks, the preser vation of impor tant U S strategic interests, and a gradual expansion of potential cooperation areas, whether explicitly stated through diplomatic resolution or implicitly reached
But the deep-seated enduring and intensifying strategic rivalry between the USA and China persists It has become clear beyond a shadow of a doubt that US and Chinese interests will frequently conflict, particularly when it comes to issues affecting the security environment of the Indo-Pacific region These conflicts between the two superpowers present the rest of the world with significant problems that go beyond their actions and force them to consider their omissions
Although ideological political and security tensions have existed between the USA and China throughout history, they did, however, prioritize economic integration during the 1990s as a result of their extensive participation in the exchange of goods capital human resources and technology which reduced their political and security concerns for one another In essence they allowed economic factors to influence them allowing them to control their futures
Similarly, goodwill had nothing to do with previous crises in which the USA and China worked together Beijing and Washington coordinated only for their own benefit without romantic feelings strong emotional bonds or even the slightest hint of a desire to work together to advance the welfare of the world s people The USA continues to be an admired partner for some regional governments and it has no desire to see China take over the region
Since 2017 the Trump and Biden Administra-
The USA must first give China some room to fumble Regardless of how much money China has invested in Asia, its authoritarian political ethos makes it vulnerable to long-term deteriorations in its regional relations Friendships in the Communist bloc were less stable and long-lasting than those in the Free World during the Cold War China currently has weak soft power to some extent and its cultural diplomacy frequently fails, leaving it with few resources to rely on when economic agreements fail Washington may be tempted to use China’s shortcomings for political gain, but it would be wiser to respect independence when identifying China s flaws A certain degree of domestic political stability is necessary to steer a steady strategic course in both domestic and international affairs, though
In contrast to institutionalized political successions in democracies, which frequently result in policy changes successions in autocracies are more likely to result in conflict and the fall of the regime In either scenario there would still be some military geopolitical economic technological, and diplomatic competition; however, relations between the USA and China would not necessarily improve Therefore, Beijing would temper the severity of its challenge, especially in situations where the USA’s vital interests are at stake such as Taiwan and the alliance system in East Asia
The goal would be a more stable relationship marked by decreased conflict risks, the preservation of important U S strategic interests, and a gradual expansion of potential cooperation areas whether explicitly stated through diplomatic resolution or implicitly reached
The writer is freelance columnist based in Islamabad He can be reached at rashidmehmoodkayani@gmail com
In my generation s memory, the death of Quaid-i-Azam Mohammad Ali Jinnah and the assassination of prime minister Liaquat Ali Khan are embedded as the first shocks early in our lives Soon, events started happening at a rapid pace leaving people with a clear idea that something was wrong somewhere indicating that some hidden hands were working behind the scenes In contrast leadership in the neighbouring country quietly and methodically got down to the task of having a constitution and then implementing it effectively India successfully formulated and implemented the Zamindari Abolition Act of 1951, successfully carving out a positive image for itself
No such effort was made in Pakistan because all the relevant stakeholders had successfully established their presence in the corridors of power Many among those who had migrated post-partition started recalling the prophetic words of Maulana Abul Kalam Azad You have no idea [as to] what kind of people you are going to join in Pakistan, he had told those who were planning to undertake the journey in 1947
Right from the beginning, it was evident that leaders in West Pakistan were not willing to let the people of East Pakistan have a fair and equal share in the affairs of the new state The people of East Pakistan agreed to the so-called parity under the One Unit scheme just to keep the country united Yet they were pushed to the wall in 1971 and the rest is history
My generation has witnessed only a turbulent Pakistan This turmoil is well summarised by Daniel Seth Markey in his book, No Exit from Pakistan: America s Tortured Relationship with Islamabad, in which he has mentioned that “it has been a policy of Washington to keep Pakistan under turmoil” keeping in view its strategic location vis-à-vis China Iran Afghanistan and Central Asia This assertion by Markey leads one to believe that Pakistan will never have any escape from Washington s policies and may never see stability even in the years to come ABID MAHMUD ANSARI ISLAMABAD
KE’s star customer
I am a 70-year-old resident of Ranchore Line, which is one of the congested localities in Karachi All my K-Electric monthly bills mention me as a star customer but what a star customer has been receiving from KE is not 24/7 electricity but a sort of continuous persecution in the shape of loadshedding during this scorching heat
Despite having the tag of a star customer we have been undergoing unabated loadshedding for the last several months In a clockwise move, loadshedding starts as early as 6am in the morning The lights glow at 8am
After an hour, there is no electricity supply for three hours; 9am to 12pm Then we hardly have it for one hour It again goes off at 1 15pm and there is no supply till 4 30pm Just before dusk it disappears at 6 30pm and reappears two hours later at 8 30pm
To complete its final turn of persecution the KE shuts down the supply for one-and-a-half hour from 10 30pm till midnight This is what the start customers have been facing despite paying all the bills on time as responsible citizens Moreover, the bill for the month of May shows an unnecessary spike in the number of units consumed Only KE knows the reason behind this
The unscheduled loadshedding during sweltering summer days has become unbearable I am sure the KE would want us to actually express gratitude for the uninterrupted supply from midnight till 6am We are willing to express even that, but it will be nice if the KE management wakes up to the reality of one of its star customers
04 Thursday 13 July 2023 COMMENT Lahore – Ph: 042-36300938, 042-36375965 I K arachi – Ph: 021-35381208-9 I Islamabad – Ph: 051-2204545 I Web: www pakistantoday com pk I Email: editorial@pakistantoday com pk
F A FAREED KARACHI
Rashid MehMood
How t h e U S A g i ve s way to C h i n a m at te r s L e v e l p l a y i n g f i e l d T h e g ro u n d s m e n a re c r u c i a l
Kashmir Mar t yrs’ Day: The combat continues COMMENT 05
was also shot dead In this way 21 Kashmiris embraced martyrdom in their efforts to complete the Azan
The people carried the dead and paraded through the streets of Srinagar, chanting slogans against Dogra brutalities Complete strike was observed in the city, which was followed by weeklong mourning This incident shook the whole state and the traffic from Srinagar to Rawalpindi and Srinagar to Jammu came to a halt from July 13 to 26 The 21 martyrs are buried in Martyrs
Graveyard at Khawaja Bazar Srinagar
Sajjad Shaukat
EV E RY year, Kashmir Martyrs’ Day (Youme Shudaha-e-Kashmir) is commemorated on July 13 in the memory of 21 Kashmiris who were martyred outside Srinagar Central Jail by the troops of Dogra Maharaja on 13 July 1931 This very day is observed on both sides of the Line of Control and all over the world by the Kashmiris, including their Pakistani brethren to pay homage to these Kashmiris
In fact, the history of Dogra rule (1846-1947) in Kashmir is replete with tyrannous treatment meted out to the Kashmiri Muslims by Dogra forces Under the Dogra rule they were leading such miserable lives that it was difficult to differentiate them from beasts Slave labour heavy taxes, capital punishment for cow slaughter, and living under constant terror was the order of the day
On 19 April 1931, the ban of Eid Khutba ignited widespread demonstrations in Jammu city for a number of days It was followed by desecration of the Holy Quran at the hands of Dogra forces which resulted in outrage among the Muslims throughout the state
In Srinagar people gathered in the Jamia Masjid to denounce this blasphemy One such get-together was held in Khanqah-e-Molla Srinagar, which was addressed by prominent Kashmiris When the meeting was concluded a youth Abdul Qadeer pointing his finger to the Maharaja s palace raised the slogan destroy its every brick On the accusation of sedition he was arrested forthwith Abdul Qadir was to be tried in the court but due to large public resentment, the court was shifted to Central Jail Srinagar
On July 12, in response to the shifting of court, intense public protests were held throughout the city The next day on July 13 thousands of people thronged the Central Jail Srinagar to witness the in-camera trial of Abdul Qadeer As the time for obligatory prayer approached a young Kashmiri stood for Azan
The Dogra Governor, Ray Zada Tartilok Chand ordered soldiers to open fire at him When he got martyred, another young man took his place and started Azan He
Consequent upon these brutal killings, the Kashmiri leadership realized the need to form a political party, the Muslim Conference (MC) with a view to waging struggle for their freedom Afterwards, on 19 July 1947, MC passed a resolution to merge Kashmir with Pakistan considering the geographical proximity majority Muslim population (77 percent) language and cultural relations of Jammu and Kashmir
During the partition of the Subcontinent, the people of the state of Jammu and Kashmir which comprised Muslim majority decided to join Pakistan But, the Dogra Mararaja Sir Hari Singh a Hindu who was ruling over the J&K in collusion with the Indian Prime Minister Jawaharlal Nehru and Governor General Lord Mountbatten joined India
The Radcliffe Boundary Award gave the Gurdaspur District, a majority Muslim area, to India to provide a land route to the Indian forces to move into the J&K Indian forces invaded Srinagar on 27 October 1947 and forcibly occupied the J&K in utter violation of the partition plan When Pakistan responded militarily on December 31 India made an appeal to the UN Security Council to intervene and a ceasefire ultimately came into effect on 01 January 1949, following UN resolutions calling for a plebiscite in Kashmir
On 5 February 1964, India backed out of its commitment of holding a plebiscite Instead the Indian Parliament declared Kashmir an integral part of the Indian Union
Since 1989 various forms of state terrorism have been part of a deliberate campaign by the Indian army and paramilitary forces against Muslim Kashmiris It has been manifested in brutal tactics like crackdowns, curfews, illegal detentions, massacre, targeted killings, sieges burning the houses torture disappearances rape breaking the legs molestation of Muslim women and killing of persons through fake encounters
On 5 August 2019 the Indian Prime Minister and leader of the BJP-led extremist government revoked Articles 35A and 370 of the Indian Constitution, which gave a special status to the disputed territory of Indian-Occupied Kashmir The Indian government bifurcated Jammu and Kashmir into two union territories Jammu and Kashmir and Ladakh to be ruled by the federal government
On the same day strict military lockdown was imposed in Indian-Occupied Kashmir which continues unabated
The deployment of more than 900 000 military troops in Indian-Occupied Kashmir who have martyred tens of thousands of the Kashmiris, including women and children through brutal tactics including fake encounters, while closure of mosques, shortage of foods, medicines for the patients have further increased the plight of the Kashmiris
In order to hide human rights violations communication services have been cut off from the world and foreign journalists are not allowed to enter the Kashmir region
While, under a well-planned hidden agenda, the Modi-led regime has intensified bringing ethno- demographic changes in Indian-Occupied Kashmir In this context various Indian moves such as introduction of new laws amendment of the laws to facilitate non-Kashmiris and outsiders in order to usurp the rights of the Muslim Kashmiris; issuance of domicile certificates to more than 80,0000 non-Kashmiris, registration of almost 2 5 million new non-local voters in Indian-Occupied Kashmir, failure of fake drama to host G-20 summit on May 22 to May 24 in Indian-Occupied Kashmir might be cited as instances
The Modi regime has also sent gangs of RSS-BJP volunteers to be permanently stationed in occupied Kashmir Despite the use of chemical weapons pellet guns and phosphorus bombs, Kashmiris have accelerated the combat for liberation
Notably, Indian forces have been also availing various draconian laws such as Armed Forces Special Powers Act (AFSPA) the Public Safety Act (PSA) in martyring the Kashmiri people and for arbitrary arrest of any individual for an indefinite period
It is mentionable that Western media, human rights groups and leaders of various countries and UNO have repeatedly condemned Indian illegal measures and human rights abuses which keep on going in Indian-Occupied Kashmir
In this regard a year after India abrogated the special status of Jammu and Kashmir UN human rights experts on 4 August 2020 called on India and the international community to take urgent action to address the alarming” human rights situation in Jammu and Kashmir “to investigate all cases of human rights violations, including extrajudicial killings enforced disappearances torture and arbitrary detentions
Amnesty International also said on 29 September 2020 that it is stopping its work in India because the government has frozen its bank accounts on September 10 for highlighting rights violations in Jammu and Kashmir and “the government had sought to punish it for that”
In the recent past the UN Security Council in its meetings has thrice reiterated that the Kashmir issue requires to be settled in accordance with the principles of the UN charter and the related Security Council resolu-
tions, as the world has refused to believe in the Indian story that its actions regarding Indian-Occupied Kashmir are its internal matter
However the state of Jammu and Kashmir has become the world s largest prison and the most militarized zone on earth In this respect Pakistanis and Kashmiris living abroad also raised Indian atrocities and continued struggle for the Kashmiris legitimate right of self-determination on various international forums, emphasizing that the Kashmir issue should be resolved in accordance with the related resolutions of the UNO
In this context US House of Representatives Terry Meza participated in a recent event organized by the Kashmir Global Council (KGC) and South Asia Democracy Watch in Frisco, Texas Ms Terry Meza was the chief guest and the symposium was attended by well-known social activist Ms Beverly Hill, and various political leaders, academics, US media, including young students
Endorsing her voices for freedom of Kashmir Terry Meza said that she is against any form of oppression and stressed the peaceful resolution of the Kashmir dispute in keeping with the legitimate aspirations of the people of Kashmir After a full day of discussion, discourse and deliberation during the symposium, a resolution was passed which stressed the upholding the human rights of Kashmiri people and appealed to allow the UN Human Rights Commission to verify the report compiled by the UN Human Rights Council (UNHRC) in 2018-19
Now at the global level there is growing noticeable awareness regarding India s brutal acts and atrocities in Indian-Occupied Kashmir
Nevertheless, the Kashmir Martyrs’ Day gives a greater impetus to the Kashmiris’ freedom fighters who continue their combat demanding their legitimate right of self-determination as recognized by the UN resolutions
Sajjad Shaukat writes on international affairs and is author of the book: US vs Islamic Militants Invisible Balance of Power: Dangerous Shift in International Relations and can be reached at: sajjad logic@yahoo com
FOREIGN AFFAIRS
AS the U S -Chinese rivalry intensifies other countries increasingly confront the dilemma of siding with either Washington or Beijing This is not a choice that most countries wish to make Over the past decades, foreign capitals have come to enjoy security and economic benefits from association with both the United States and China These countries know that joining a coherent political-economic bloc would mean forgoing major benefits from their ties to the other superpower
The vast majority of Indo-Pacific and European countries do not want to be trapped into an impossible choice,” Josep Borrell, the EU’s top diplomat, observed at a 2022 meeting of the Brussels Indo-Pacific Forum Philippine President Ferdinand Marcos Jr noted in 2023 that his country does not want a world that is split into two camps [and] where countries should choose what side they would be on Similar sentiments have been expressed by many leaders, including Lawrence Wong, Singapore’s deputy prime minister, and Saudi Foreign Minister Prince Faisal bin Farhan al-Saud The message to Washington and Beijing is clear: no country wants to be forced into a binary decision between the two powers
The United States has hastened to reassure its allies that it feels much the same We re not asking anyone to choose between the United States and China, Secretary of State Antony Blinken said at a press conference in June
Secretary of Defense Lloyd Austin, speaking at Singapore’s Shangri-La Dialogue insisted that Washington doesn’t “ask people to choose or countries to choose between us and another country John Kirby the White House s foreign policy spokesperson repeated the same point in April: We re not asking countries to choose between the United States and China, or the West and China
It is true that Washington does not insist on an all-ornothing, us-versus-them choice from even its closest partners Given the extensive links that all countries including the United States have with China attempting to forge a coherent anti-China bloc would be unlikely to succeed
Even the United States would not join such an arrangement if it required ending its economic relationship with China, which would come at a tremendous cost
But it may not be possible much longer for countries to simply sit on the fence When it comes to a host of policy areas including technology defense diplomacy and trade Washington and Beijing are indeed forcing others to take sides Countries will inevitably be caught up in superpower rivalry, and they will be required to step across the line, one way or another The U S -Chinese competition is an inescapable feature of today’s world, and Washington should stop pretending otherwise Instead it must work to make the right choices as attractive as possible
WHICH SIDE ARE YOU ON? As U S -Chinese competition has intensified in recent years, countries have been increasingly placed in the unenviable position of having to choose Under former U S President Donald Trump the United States exerted significant pressure on its allies to not let Huawei the Chinese telecommunications giant build its 5G networks Beijing naturally wished to secure the telecommunications deals and multiple governments privately expressed concern that barring Huawei would anger China In response, Washington played hardball The Trump administration even went as far as to suggest to Poland that future U S troop deployments might be at risk if Warsaw worked with Huawei The U S government warned Germany that Washington
would limit intelligence sharing if Berlin welcomed Huawei; not long after, the Chinese ambassador to Germany promised retaliation against German companies if Berlin barred Huawei Europe’s largest economy was caught between its top two trading partners This dynamic continued under U S President Joe Biden The administration s 2021 CHIPS and Science Act offered some $50 billion in federal subsidies to American and foreign semiconductor manufacturers that are produced in the United States but only if they refrain from any “significant transaction” to expand their chip-making capacity in China for ten years Later that year the Biden administration unilaterally imposed export controls on high-end semiconductors used in China for supercomputing Initially the Netherlands and Japan the other main countries that export chip manufacturing equipment to China were not party to the new approach But they were soon told to match the restrictions with limits of their own By early 2023, Japan and the Netherlands had bowed to U S pressure and done so
The moves and countermoves have since continued Months after the U S restrictions Beijing retaliated against the United States by barring the use of semiconductors made by Micron, a U S company, in key Chinese infrastructure projects Washington then promptly asked South Korea, whose chipmakers operate major “fabs” chip manufacturing facilities in China, not to backfill any supply gap Beijing in turn restricted the export of key metals used in semiconductor manufacturing Chinese state media condemned the Netherlands one of the countries that uses the metals as it made the announcement
The zero-sum games are not limited to economic decisions In 2021, the United States learned that China was constructing a port facility in the United Arab Emirates The Biden administration concerned that Beijing intended to build a military base there pressured Abu Dhabi to stop the project Biden reportedly warned Emirati President Mohammed bin Zayed that a Chinese military presence in the UAE would damage their countries partnership Abu Dhabi halted Chinese construction, but recently, leaked documents reported in The Washington Post indicated that work on the facility has restarted In response
U S Senator Chris Murphy Democrat of Connecticut who chairs the Senate Foreign Relations Committee s subcommittee on the Middle East vowed to oppose the sale of armed drones to the UAE Senate Foreign Relations Committee Chair Bob Menendez added, “Our friends in the Gulf have to decide, particularly on the security questions who they want to turn to If it s China then I think that s a huge problem
Countries across the Indo-Pacific face their own choices In 2017 Washington offered the THAAD missile defense system to South Korea amid increasing tensions with the North The missiles were to be stationed on land provided by the South Korean conglomerate Lotte Beijing warned Seoul not to accept the deployment fearing that its radar would allow the United States to track military movements inside China Beijing insisted that it could not understand or accept the deployment, and China s ambassador to Seoul warned that allowing the installation of THAAD could destroy bilateral relations Seoul went through with the THAAD deployment, and sure enough, Beijing retaliated Chinese tour groups were banned from traveling to South Korea Lotte stores in China were closed South Korean entertainers were denied visas and South Korean dramas were removed from China s Internet Some of the coercive economic measures remain in place today, but so does the missile defense system
Again and again, governments have been forced to make choices that involved real costs and which they would have preferred had they had the option to avoid
The number of unavoidable dilemmas will only rise as the U S -Chinese rivalry intensifies
The worst dilemmas will likely revolve around the effort to separate and safeguard technology supply chains The Biden administration has signaled its desire to outstrip China in the development and production of semiconductors quantum computing artificial intelligence biotechnology biomanufacturing and clean energy technologies To do so, Washington will need to build domestic capacity in each area and limit China s ability to race ahead Countries with niche capabilities will be caught between Beijing, which wants these technologies and Washington which wants to minimize Chinese access to them
A similar zero-sum arithmetic will apply to Beijing s moves to increase its international military presence beyond just the UAE China already has a military base in Djibouti and an installation in Cambodia It has reportedly pursued additional facilities in Equatorial Guinea, the Solomon Islands Vanuatu and elsewhere As it did in the UAE Washington will oppose China s aims and pressure third countries to refuse Chinese construction and deployments This tug of war will be particularly acute in the Pacific Islands, where expanded Chinese military power could constrain U S naval freedom of action Already, Washington and Beijing are competing for the loyalties of Pacific Island states, although the contest in countries like the Marshall Islands Micronesia and Papua New Guinea has thus far produced a bidding war rather than a series of forced choices
BETTER WITH U S ? The United States should make it easy for countries to support it on the issues that matter most Washington should begin by providing realistic alternatives to what China has on offer U S threats to cut countries off from intelligence sharing if they used Huawei which supplied an all-in-one 5G network at a lower cost than anything the West could provide were ineffective When Washington worked with allies to provide meaningful alternatives, however, countries began to reconsider especially as China became more belligerent Efforts to diversify away from Chinese supplies in areas including rare-earth minerals solar panels and certain chemicals will be feasible only if countries have other sources available at a reasonable cost The United States cannot provide substitutes to everything that China makes and does, and in the majority of cases it need not do so Instead, Washington should identify the areas with the greatest national security risks and work quickly with partners to develop alternatives
The United States should also seek as far as it is possible to avoid asking countries to harm their economic relationships with China Sometimes doing so will be unavoidable, as when Washington organizes a coalition on semiconductors or leads other governments to impose human rights sanctions on Beijing But these coalitions should be minimally invasive The United States will win few allies if it puts at significant risk other countries’ trade and investment with China In winning support from friends and allies on export controls outbound investment reviews, supply chain diversification, and technology bifurcation, less will be more
Finally, if Washington wants countries to partner with it and stand up to Beijing, it must demonstrate greater presence and commitment Countries may be willing to incur costs and risk Chinese retaliation by partnering with the United States but only if Washington sides with them on other issues A sense however that the United States will be absent, noncommittal, or incompetent when the going gets tough will tempt them to align with or simply acquiesce to China’s preferences
So the United States must rely on sustained diplomatic engagement trade agreements reiterated defense com-
mitments military campaigning and extensive development aid, especially in the Indo-Pacific, to reassure those countries that doubt U S staying power and worry about China’s might Countries cannot have their cake and eat it too The time for choosing has arrived
RICHARD FONTAINE is CEO of the Center for a New American Security He has worked at the U S Department of State on the National Security Council and as a foreign policy adviser to U S Senator John McCain
SC hearing of Ar ticle 370 case: Unfreeze the Valley
This was long overdue Centre should take cue from own affidavit, call for elec tions
INDIAN EXPRESS E d i to r a l
AF T E R a delay of four years the Supreme Court has said it will hear daily from August 2 petitions challenging the Centre s 2019 decision in Indian Occupied Jammu & Kashmir of doing away with the special status of the state and dividing it into two union territories In 2020 when the Court last heard the matter the question was about referring the case to a larger bench which the court refused The lapse of time though does not take away from the importance of the case The court s verdict, whatever it may be, is bound to have ramifications at several levels The questions raised in the petitions are of relevance for the entire country, not just Indian Occupied J&K For instance during a period of Governor ’s rule in a state where the House has been dissolved can the Governor take on the powers of the elected assembly? Can a state be turned into a Union Territory? Can Members of Parliament drawn from all states represent the will of the people in one state? In the Supreme Court’s consideration of some other cases relating to Indian Occupied Kashmir the question of national security has loomed large
It is significant that the Centre which had already filed an affidavit earlier offering a comprehensive rebuttal to the constitutional questions in the petitions, felt the need to submit a fresh one on the eve of Tuesday s hearing It has claimed that the relief being sought by the petitioners was “against the security and sovereignty of India due to the peculiar geographical situation of the region and peculiar security challenges arising therefrom It has also claimed in the affidavit that an unprecedented era of peace and progress has dawned in the Valley, and that life has returned to normalcy in the region The Court has correctly pointed out that this has no bearing on the constitutional question
And yet taking the government’s assertions at face value this then should be the perfect cue to hold assembly elections in the former state Indian Occupied J&K has been without elected representatives for five years The Centre s reluctance to hold elections even after its self-congratulatory submission to the court can only give credence to the suspicion that partisan political considerations, more than the interests of the people of Indian Occupied J&K weigh heavy on the Centre The Supreme Court hearings should not offer yet another reason to delay the elections
Thursday 13 July 2023
Now, at the global level there is growing noticeable awareness regarding IndiaÊs brutal acts and atrocities in Indian-Occupied Kashmir.
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To d ay i s K a s h m i r M a r t y r s’ D ay No co u nt r y wa nt s to b e f o rce d i nto a b i n a r y d e c i s i o n b e t we e n t h e t wo p owe r s
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X I S T R E S S E S P R O A C T I V E LY L I F T I N G C H I N A ’ S O P E N I N G - U P T O N E W L E V E L A M I D C O M P L E X
I N T ’ L S I T U AT I O N
AGENCIES
CHINESE President Xi Jinping on Tuesday stressed efforts to put in place new systems for a higherstandard open economy and to proactively lift the country’s opening-up to a new level, according to the Xinhua News Agency Xi made the remarks while presiding over a meeting of the central commission for deepening overall reform He also stressed that the focus should be put on institutional opening-up and deepening reforms in key areas of global exchanges and cooperation such as investment trade finance and innovation The meeting pointed out that China s development is facing a complex and difficult international situation at present while stressing efforts to improve the top design for new systems for a higher-standard open economy, deepen institutional reforms in trade and investment expand market access and compressively optimize the business environment T h e r e m a r k s s e n d a p o w e r f u l m e s s a g e o f s u p p o r t f o r i n c r e a s e d i n t e r n a t i o n a l e x -
AGENCIES
China urges the North Atlantic Treaty Organization (NATO) to stop its groundless accusations and provocative remarks against the country, Chinese Foreign Ministry spokesperson Wang
Wenbin said on Wednesday
Wang made the remarks in response to a question on issues related to China and Russia in the NATO summit communique at a daily press briefing F e a t u r i n g n o n - a l i g n m e n t , n o n - c o nf r o n t a t i o n a n d n o n - t a rg e t i n g o f a n y t h i r d p a r t y, C h i n a - R u s s i a r e l a t i o n s s u rpas s ed the kind of military-political all i a n c e s e e n d u r i n g t h e C o l d Wa r a n d t r a n s c e n d e d s u c h a m o d e l o f s t a t e - t os t a t e r e l a t i o n s w h i c h i s f u n d a m e n t a l l y d i ff e r e n t f r o m N ATO c o u n t r i e s e n g a gi n g i n s m a l l c i r c l e s a n d c a m p - b a s e d c o n f r o n t a t i o n , h e s a i d
China urges the NATO to abandon the Cold War mentality give up the wrong approach of seeking absolute security and stop disturbing the Asia-Pacific region and the world Wang said
When asked to comment on the communique saying China is rapidly expanding and diversifying its nuclear arsenal and lacks nuclear transparency, Wang said NATO’s irresponsible exaggeration of China as a nuclear threat is
c h a n g e s a n d c o o p e r a t i o n a s w e l l a s a r ej e c t i o n o f g r o w i n g u n i l a t e r a l i s m a n d p r o -
t e c t i o n i s m i n c e r t a i n c o u n t r i e s a n a l y s t s n o t e d
Maintaining a high level of openness has always been a key theme of our country’s development Even though some Western countries have been trying to disrupt our
efforts in recent years we have always maintained a mutually beneficial and win-win opening-up strategy Cong Yi a professor at the Tianjin University of Finance and Economics, told the Global Times on Tuesday Cong noted that while the US and other Western officials focus on “decoupling derisking and breaking supply chains” and are
even deliberately trying to undermine and contain China, China is showing that its door will only open wider and many Western businesses are still actively seeking broader cooperation in China “We cannot be disrupted in this he said Defying calls in the West for decoupling or de-risking since the start of the year many foreign executives including Microsoft founder Bill Gates, Tesla CEO Elong Musk and Apple CEO Tim Cook, have visisted China seeking greater cooperation
Apart from opening-up Tuesday’s meeting also pointed out that China will adhere to the bottom-line thinking and extreme-scenario thinking, pay close attention to improving the national security system and mechanism, and strive to improve the ability and level of supervision in opening-up, according to Xinhua The meeting also pointed out that China will actively participate in the reform and construction of the global governance system by closely linking the building of new systems for a higher-standard open economy to the joint construction of the Belt and Road Initiative
At the meeting several documents were reviewed and approved including a guide-
line on building new systems for a higherstandard open economy, a plan for deepening rural reform, a guideline on carbon emissions control, a guideline on reform of salary systems at universities and research institutes a guideline on enhancing national oil and gas supply security and a guideline on institutional reform in electricity according to Xinhua
These are key development priorities in China, as the country steps up efforts to pursue high-quality development while fending off external risks and challenges analysts noted The focus on reforming compensation systems at universities and research institutes, for example, aims to encourage basic research and major technological breakthroughs “China’s manufacturing advantages are extremely competitive in the world but at the same time we urgently need to make up for shortcomings in some key technologies and achieve independent breakthroughs Cong said
This is the second meeting of the Central Commission for Comprehensively Deepening Reform under the 20th Communist Party of China Central Committee
extremely hypocritical As a military alliance with the most and most powerful nuclear weapons, NATO has engaged in “microphone diplomacy” in recent years hyping up China as a nuclear threat which China
firmly opposes, he said China has always adopted a prudent and responsible attitude on the issue of nuclear weapons he said adding that China always adheres to the nuclear strategy of self-defense maintains its
nuclear forces at the lowest level required for national security, and has no intention of engaging in a nuclear arms race Wang added China also maintains the policy of no-first-use of nuclear weapons at any time and under any circumstances and unconditionally commits itself to not using or threatening to use nuclear weapons against non-nuclear-weapon states or nuclear-weaponfree zones The international community has more reasons to be concerned about NATO s nuclear sharing arrangement Wang pointed out Through such an arrangement, NATO has the world’s largest nuclear arsenal, and some member states are stepping up efforts to modernize their nuclear forces and strengthen the socalled extended deterrence increasing the risk of nuclear proliferation and nuclear conflict, said Wang I f N ATO m e m b e r s a r e t r u l y i n t e re s t e d i n r e d u c i n g s t r a t e g i c r i s k s a n d m a i n t a i n i n g s t r a t e g i c s t a b i l i t y t h e y s h o u l d t a k e p r a c t i c a l a c t i o n s t o r e d u c e t h e r o l e o f n u c l e a r w e a p o n s i n n a t i o n a l a n d c o l l e c t i v e s e c u r i t y p o l i c i e s p r om o t e s t r a t e g i c s t a b i l i t y, a n d m a i n t a i n i n t e r n a t i o n a l a n d r e g i o n a l p e a c e a n d s e c u r i t y, h e s a i d
Elon Musk’s SpaceX faces defeat at hands of Chinese startup
BLOOMBER G Elon Musk-owned SpaceX has been defeated in the race to launch a methane-fueled rocket by a Chinese startup, LandSpace Technology Corp, Bloomberg reported The development has bolstered the Asian nation s goal of challenging
L a v r o v s a y s n o e n d t o U k r a i n e w a r u n t i l W e s t s t o p s t r y i n g t o d e f e a t R u s s i a
MOSCOW A F P
the United States as the dominant power in space according to the wire service The Chinese company launched its rocket ZQ-2 from the Jiuquan Satellite Launch Center in the Gansu province on Wednesday according to CCTV, a state broadcaster T h e s u c c e s s f u l l a u n c h c o m e s m o n t h s a f t e r a f a i l e d f i r s t a ttempt in December The attempt failed due to an abnormality in a supplem e n t a r y s e c o n d - s t a g e engine T h e c o m p a n y h a d s a i d i n M a r c h t h a t i mp r o v e m e n t m e a s u r e s w e r e t a k e n t h a t p r o v e d e f f e c t i v e i n g r o u n d t e s t s T h e c o m p a n y s a i d t h e r o c k e t a r r i v e d a t t h e l a u n c h c e n t e r i n M a y, n i n e d a y s a f t e r t r a v e l -
l i n g f r o m L a n d S p a c e s m a n u f a c t u r i n g b a s e i n J i a x i n g , w i t h t h e f i n a ls t a g e p r e p a r a t i o n s b eg i n n i n g o n J u l y 6 Musk’s SpaceX and other companies have been developing rockets that can use methane as fuel as it can be cleaner and safer than the fuels being used
“The successful launch by LandSpace provides the Beijingbased company with bragging rights and boosts President Xi Jinping s strategy to have China challenge the US in the race to dominate space ” according to Bloomberg Maxime Puteaux who researches the space industry as a principal advisor with Paris-based Euroconsult, said: “[It’s] a major milestone ”
Nor th Korea fires long-
SEOUL
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North Korea has fired a long-range ballistic missile the South Korean military said Wednesday days after Pyongyang threatened to down US spy planes that violated its airspace Relations between the two Koreas are at one of their lowest points ever with diplomacy stalled and North Korean leader Kim Jong Un calling for increased weapons development, including tactical nukes In response, Seoul and Washington have ramped up security cooperation vowing that Pyongyang would face a nuclear response and the end of its current government were it to ever use its nuclear weapons against the allies South Korea’s military
The war in Ukraine will not end until the West stops trying to defeat Moscow Russian Foreign Minister Sergei Lavrov said in an interview with Indonesian media on Wednesday His comments came ahead of Ukrainian leader Volodymyr Zelensky s symbolic talks with NATO leaders at their summit in Lithuania on Wednesday In an interview with the Indonesian newspaper Kompas ahead of meetings with his Southeast Asian counterparts in Jakarta this week Lavrov lambasted the United States and its allies for supporting Ukraine It will continue until the West abandons its plans to maintain dominance and its obsession with inflicting a strategic defeat on Russia through the hands of its puppet, Kyiv,” he said of the Ukraine conflict “There has been no sign of a change in their position and we are seeing how America and its accomplices are continuously pumping weapons into Ukraine and pushing (Zelensky) to continue fighting Lavrov is due to attend the East Asia Summit and ASEAN Regional Forum foreign ministers’ meetings on Friday with US Secretary of State Antony Blinken The pair last met briefly in March at a G20 meeting in India Russian President Vladimir Putin launched the biggest attack on a European country since World War II when he ordered the invasion of Ukraine on February 24, 2022 Since then, more than 150,000 people have been killed and wounded on both sides, according to Western estimates Turning to Indonesia, Lavrov praised what he called Jakarta’s independent foreign policy on the conflict President Joko Widodo was the first Asian leader to visit both Moscow and Kyiv after the invasion began Lavrov said Western nations were ignoring initiatives coming from developing countries after Kyiv did not take up Widodo s offer to mediate or a controversial proposal from Indonesia’s defence minister that referendums be held in the occupied parts of eastern Ukraine Western backers of Ukraine have sent weapons worth tens of billions of dollars to help it fight back against Russia s invasion NATO leaders vowed after the first day of their summit that Ukraine s future is in NATO , and shortened the eventual process Kyiv would have to go through to enter the alliance But they did not offer a timeline on Ukraine’s prospective membership reflecting concerns in Washington about being dragged into a nuclear conflict with Russia In a bid to reassure Zelensky G7 nations are expected to issue a declaration on how they will help Ukraine defeat Russia and deter any new aggression in the coming years
said it had detected the launch of a longrange ballistic missile fired from the Pyongyang area around 10 am (0100 GMT)
The ballistic missile was fired on a lofted trajectory and flew 1,000 km (620 miles) before splashing down in the East Sea ” the Joint Chiefs of Staff said referring to the body of water also known as the Sea of Japan
A lofted trajectory involves firing a missile up and not out, a method Pyongyang has previously said it employs in some weapons tests to avoid flying over neighbouring countries
The launch “is a grave provocation that damages the peace and security of the Korean peninsula and violates UN sanctions on Pyongyang the JCS said calling on North Korea to stop such actions Pyongyang last fired one of its most powerful intercontinental ballistic missiles in April the purportedly solid-fuelled Hwasong-18 and in February launched a Hwasong-15 which flew a similar 989 km
The flight time of around 70 minutes is also similar to some of North Korea s previous ICBM launches, experts said
Given what we have at this point, it s about 90 percent certain that it was an ICBM launch,” Choi Gi-il, a professor of military studies at Sangji University told AFP He added that it could also have been North Korea attempting to re-test its satellite launch technology to prepare for another attempt to put a spy satellite into orbit, after a May launch failed ‘PROVOCATIVE’ US
ACTIONS
Wednesday’s launch came after North Korea on Monday accused a US spy plane of violating its airspace and condemned Washington s plans to deploy a nuclear missile submarine near the Korean peninsula
A spokesperson for the North Korean Ministry of National Defence said the United States had “intensified espionage activities beyond the wartime level citing provocative spy plane flights over eight straight days this month
There is no guarantee that such a shocking accident as the downing of the US Air Force strategic reconnaissance plane will not happen in the East Sea of Korea the spokesperson added Kim s powerful sister Kim Yo Jong said that a US spy aircraft had violated the country s eastern airspace twice on Monday morning, according to a separate
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Thursday 13 July 2023 | ISLAMABAD 06 NEWS
CORPORATE CORNER
B A F L M U S T R E F U N D LO S T A M O U N T, A P O LO G I Z E
T O F R A U D V I C T I M : P R E S I D E N T A LV I
ISLAMABAD s ta f f r e p o r t
PRESIDENT Dr Arif Alvi has rejected a representation filed by Bank Alfalah Ltd (BAFL) against the decision of Banking Mohtasib directing it to send an apology to a customer for enabling online transaction/payment system on his credit card without his consent and neglecting his timely complaint about a disputed transaction
President Alvi said on Wednesday that when Internet Banking Facility was provided by a bank to its customers it was incumbent upon the bank to educate its customers about its pros and cons He also directed BAFL to refund the lost amount of Rs 66,850 along with the profit to the customer
He gave these remarks while deciding upon a case wherein Muhammad Yar (the complainant) had filed a complaint before the Banking Mohtasib stating that he had a Bank Alfalah Credit Card and a scam of Rs 66,850/- occurred on his
organize workshop on business management and development
marketing roles and challenges problem-solving through planning and business development Multiple case studies and real-life stories were utilized to facilitate the learning process Later, S M Shams, the former Country Manager of Johnson & Johnson Pakistan, and business partner Syed Rizvi shared their professional and personal experiences while discussing the challenges they faced and achievements in their respective careers
InfraZamin Pakistan, Sindh gov t’s
PPPU
sign MoU
KARACHI s ta f f r e p o r t
The Public Private Partnership Unit Government of Sindh (PPPU) and InfraZamin Pakistan Limited (IZP), are pleased to announce the signing of a Memorandum of Understanding (MOU) to provide local currency guarantee solutions for infrastructure projects in Sindh under the Public-Private Partnership Mode The collaboration aims at fostering economic and social development activities by offering a credit guarantee facility The signing ceremony chaired by Syed Qassim Naveed Qamar Sindh SACM on Investment and PPP Projects, was attended by officials and dignitaries from the public and private sectors
Mr Assad Zamin, Director General of PPPU and Ms Maheen Rehman CEO of IZP signed the MoU on behalf of their respective organizations
Zong 4G collaborates with Sehat
Kahani for unprecedented discounts for My Zong App users
ISLAMABAD
s ta f f r e p o r t
Zong 4G, the leading telecommunications company in Pakistan has forged a strategic collaboration with Sehat Kahani propelling the nation's healthcare landscape into a new era of accessibility and affordability This dynamic alliance empowers users of the My Zong App with exclusive discounts on telemedicine solutions and comprehensive healthcare services, spanning from diagnosis to treatment Together, Zong 4G and Sehat Kahani are revolutionizing healthcare access making it more convenient affordable and transformative for people across the country Zong 4G users in far-flung areas can access the Sehat Kahani portal through the My Zong App, available on both Android and iOS platforms, enabling them to connect with the best doctors in Pakistan who provide quality and cost-effective healthcare services
Credit Card when his card was used at Noon-e-Commerce solution
President Alvi informed the bank that he had not done this transaction and requested to stop this online transaction/payment The bank had initially reversed this transaction amount but surprisingly after six months the bank had deducted this amount from his Credit Card
Feeling aggrieved he escalated his complaint before the Banking Mohtasib which directed BAFL to refund the lost amount The Bank, then, filed a representation with the President against the decision of the Mohtasib
The President held a personal hearing of the case and rejected the representation of the bank In his decision, he noted that the complainant was not conversant with Internet/Digital Banking and became aware of the transaction on receipt of a call from the bank’s real-time Monitoring Unit wherein he told the Bank s representative that he did not perform the disputed transaction
He added that the bank was duty-
bound to take care of its customer ’s interest by instantly reporting the unauthorized/fake transaction instead it waited for the lodgement of a formal complaint
He observed that when BAFL was advised to submit the SMS or e-mail through which OTP was delivered to the customer, BAFL failed to submit the required information even after continuous follow-up Non-submission of information/document of vital evidence
Mobilink Bank's H1-2023 financial results highlight 232pc growth in profit before tax
ISLAMABAD s ta f f r e p o r t
Mobilink Bank exhibited an impressive growth trajectory in its financial performance during the first half of 2023, reflecting its unwavering dedication to excellence, as per the unaudited/unreviewed financial statements With a 57% increase in total revenue the Bank showcased its proficiency in both attracting and retaining customers effectively adapting to the everevolving financial landscape The Bank s Profit Before Tax (PBT) experienced a 232% growth in H1 2023 compared to the corresponding period in 2022 The H1 2023 results further solidify Mobilink Bank's position as a leading digital microfinance institution
Mobilink Bank is part of the VEON group a global digital operator that provides converged connectivity and online services across seven countries
As part of its digital operator strategy VEON is transforming people s lives, creating opportunities for greater digital inclusion, and driving economic growth across countries that are home to more than 8% of the world’s population
Despite uncertainties arising from high inflation
Mobilink Bank experienced impressive growth across all verticals In H1 2023 the Bank achieved a 37% in-
crease in the average ticket size, reaching PKR 299K, as compared to the same period last year This growth translated into a substantial 57% increase in total revenue amounting to PKR 17 3 billion The core banking revenue saw a significant boost of 48% reaching PKR 8 8 billion while branchless banking revenue increased by 66% to PKR 8 5 billion during the same period
Mobilink Bank has also showcased its exceptional prowess in financial management during H1 2023, delivering outstanding performance With a 22 35% Return on Equity (ROE) and 1 6% Return on Assets (ROA) the Bank has demonstrated its expertise and strategic approach These returns affirm the Bank s ability to generate profits
Commending the Bank's performance, Ghazanfar Azzam, President & CEO Mobilink Bank said, “The synergy within Mobilink Bank’s team has been the driving force behind its success helping us promote our goal of promoting financial inclusion for all We are deeply grateful for the trust and support we receive from our customers, which fuels our motivation to continuously improve and excel As we celebrate these achievements, we look forward to embracing new challenges and leveraging our strong teamwork to reach even greater heights in the future ”
Rotar y D istric t 3271 Installation Ceremony held at Hotel Regent Plaza
KARACHI s ta f f r e p o r t
The installation ceremony of Rotary District 3271 was held at Hotel Regent Plaza where the Deputy Governor Assistant Governor Club Presidents Secretaries and hundreds of district team members from 175 clubs of Sindh & Balochistan participated
On this occasion SLASH was presented to Director of Rotary International 2022-24 Muhammad Faiz Kidwai along with Rotary Foundation Trustee 202024 Aziz Memon, New District Governor 2023-24 of Rotary International District 3271 Mohammad Hanif Khan and others A musical and Qawwali program was also organized in the ceremony while a minute s
silence was observed to pay homage to the mother of the nation, Mohtarma Fatima Jinnah The term of all office bearers is one year Addressing the ceremony, RI Director Muhammad Faiz Kidwai said that, I welcome the new office bearers
reflects that either the Bank does not have the record or the OTP was not sent he said
The President further pointed out that BAFL was found non-compliant with various regulations/directions of the State Bank of Pakistan which made it incumbent upon the bank to fully inform the customer about the Electronic Funds Transfer facility in plain language besides obtaining the customer s consent before the start of such facility President Alvi concluded that since BAFL failed to controvert the claim of the complainant and the findings of the Banking Mohtasib failed to discharge the burden and statutory liability cast upon it under the law and could not establish that the internet banking facility was activated with the consent of the complainant, therefore, the representation of the Bank was devoid of merit and deserved to be rejected T h e P r e s i d e n t h e n c e d i r e c t e d B A F L t o s e n d a n a p o l o g y t o t h e c u st o m e r a n d r e t u r n h i m t h e l o s t a m o u n t along with the profit
Telenor Pakistan par tners with Kistpay to scale up smar tphone financing
ISLAMABAD
s ta f f r e p o r t
Telenor Pakistan has entered into a partnership with Kistpay, Pakistan’s leading smartphone financing platform, to bring affordable smartphone financing solutions to customers at unprecedented scale A signing ceremony in this regard took place which was attended by Irfan Wahab Khan CEO Telenor Pakistan Asif Jafri CEO
Kistpay Julian Gorman Head of APAC Region GSMA
Saira Faisal, Country Lead and Jeanette Whyte, Head of Public Policy APAC GSMA who participated virtually to emphasize the importance of this partnership The highlight of this partnership is the launch of Shariah-compliant smartphone installment plans which are tailored specifically for Telenor s vast customer base in Pakistan
The collaboration offers an inclusive solution for individuals hailing from middle and low-income segments of the society, promoting smartphone ownership through user friendly installment-based financing options that align with Shariah (interest free) principles
The partnership aims to further digitalisation in the country and empower communities through this first-ofits-kind collaboration by making the purchase of smartphones convenient and affordable Irfan Wahab Khan Chief Executive Officer, Telenor Pakistan, commented on the development, “We are committed to forging impactful partnerships that enrich the lives of our customers Our partnership with Kistpay marks a significant stride in delivering inventive and necessary solutions that bridge the digital divide and promote inclusion By offering smartphone financing choices we are empowering more individuals to join the digital revolution and unlock the advantages of connectivity Mr Asif Jafri, CEO of Kistpay, expressed his delight about the partnership stating "We are thrilled to partner with Telenor Pakistan to extend smartphone financing to customers across Pakistan as this is in line with the Smartphone for All initiative that Kistpay and GSMA started last year in October 2022
Religion is our red line: S indh Governor
KARACHI s ta f f r e p o r t
A ceremony was held in Karachi on the memorization of the Holy Quran by the grandsons of the well-known social leader Muhammad Shah Alam Governor Sindh Kamran Khan Tessori was the chief guest of the event, scholars, Naat Khawan business personalities and other important personalities participated in the event
On this occasion Governor Sindh Kamran Khan Tesuri condemned the Sweden incident, Kamran Khan Tessori
says that religion is our red line insulting religion is not tolerable in any form, Sweden incident is also a link to Islamophobia Steps are needed, Kamran Tesori said that Quran Pakistan is a living miracle of Allah Almighty no book in the world can be memorized letter by letter but there are millions of custodians of the Holy Quran all over the world Muhammad Asad Ayub offered flowers and devotion in honor of Rasulullah ﷺ, Governor Sindh congratulated and distributed gifts to Hafiz Munir Alam Hafiz Shahzeb Alam and Hafiz Rayan Alam
192 Pakistani students get scholarships in European universities
ISLAMABAD s ta f f r e p o r t
The highest number of 192 Pakistani students have received scholarships to study in European universities under the EU s flagship Erasmus Mundus Joint Master scholarships programme including 103 men and 89 women during the current year
The European Union Delegation to Pakistan hosted a pre-departure event to celebrate the achievement of the recipients of the scholarship said a news release This is the second year in a row that Pakistan ranked top in the world for the number of scholarships awarded and remained in the lead in terms of scholarship applications
In his welcome remarks, EU Chargé d’Affaires a i Thomas Seiler said “Today we congratulate the young men and women who will embark on an educational and cultural journey through the Erasmus+ programme over the coming months
I a m s u r e t h a t t h e y w i l l r e t u r n w i t h s t r o n g knowledge and rich experiences, and their exposure to European universities will also contribute to the d e v e l o p m e n t o f
CASS holds seminar on ‘Pakistan’s Foreign Policy Choices in the Evolving Global Order’
LAHORE s ta f f r e p o r t
A seminar was conducted by the Centre for Aerospace and Security Studies (CASS) Lahore on the theme of Pakistan s Foreign Policy Choices in the Evolving Global Order
are well prepared and that the Pakistani universities provide them with the necessary skills to compete at the global level He added that he is particularly pleased to see more students from Pakistan have accessed the Erasmus+ programme This year 2 835 students from 128 countries were selected
The seminar featured a keynote address by Ambassador (Retd) Javid Husain who underscored the need for a pragmatic approach in Pakistan’s foreign policy towards the great powers, regional countries, and especially the neighboring states Ambassador (Retd) Naghmana Hashmi dwelt in detail on how to further deepen Pakistan s strategic ties with China Ambassador (Retd) Riffat Masood in a video message reflected on policy options vis a vis India and Pakistan s representative on Afghanistan, Ambassador (Retd) Asif Durrani emphasized the utmost importance of a stable and peaceful Afghanistan The statements of the guest speakers were followed by an extensive question-and-answer session Earlier in the beginning Ambassador (Retd) Muhammad Haroon Shaukat Director Foreign Affairs CASS made an introductory statement President, CASS, Lahore, Air Marshal Asim Suleiman (Retd) made the concluding remarks while summing up the recommendations
07 NEWS Thursday 13 July 2023 | ISLAMABAD
T
e E U C h a rg é d ’ A ffaires a i further
ship
P a k i s t a n ”
h
added “The results of the scholar-
s selection demonstrate that Pakistani students
for the Erasmus Mundus Joint Master scholarships The pre-departure event was organized in collaboration with the Higher Education Commission (HEC) It provided an opportunity to the scholarship holders to prepare for their education in Europe and to network amongst their peers and Erasmus+ Alumni The Erasmus+ Alumni shared their experiences followed by a question and answer session
NBP signs agreement with National Radio Telecommunication Corporation (NRTC) for procurement of Thin Client PCs for NBP branches and ATM Hotlines under G2G arrangement This is a hallmark initiative by NBP management towards digitalization of branches for better and more efficient customer service Mr Sultan Richard Chairman & CEO Discount World (DW) and Vice President, Karachi Golf Club Khurram Khan sign MoU in alliance wih VISA to promete Golf in Pakistan ITLP, UIT Universit y
ISLAMABAD s ta f f r e p o r t Inspiring Time Leader Private (ITLP) Limited in collaboration with UIT University organized a one-day workshop on business management and development theme entitled Exploring Business Idea" The workshop's objective was to introduce the importance and effectiveness of entrepreneurship in young individuals The workshop commenced with a speech by the Dean of Business Management at UIT University Professor Dr Abid ul Rean Zaki who emphasized the importance and benefits of business Meanwhile renowned business trainer and consultant, the Director and Founder of Inspiring Time Leaders, Syed Muhammad Farrukh, who served as the workshop's trainer, imparted knowledge on various aspects of business including business tools
Muharram securit y plan for capital reviewed ISLAMABAD: No laxity in security duties would be tolerated during Muharram ul Haram: SSP Operations A high level meeting was held to review the security arrangements made by Islamabad capital police to shield Muharram ul Haram processions in the capital a Police Public Relation officer said The meeting was chaired by SSP (Operations) Malik Jameel Zafar According to the details, a security meeting was held to review security arrangements for “Muharram ul Haram” and establish an atmosphere of communal harmony during Muharram and to make the fool-proof security of the Majalis and processions s ta f f r e p o r t
G O V T C R A W L S A C R O S S I M F F I N I S H L I N E
The remaining amount will be phased over the programme s duration, subject to two quarterly reviews, the IMF added in its statement While the statement comes amongst high anticipation and confidence let’s look back on how the IMF came around
BACKGROUND: To understand the context we need to know that the IMF, a lender of last resort, offers various programs Amongst these programs are the EFF and the SBA EFF is for a longer duration loan facility compared to the Stand-By Arrangement (SBA)
bailout, however
approval of
IMF board was pending on the said deal
the Exec-
approved a 9-month
of the
for Pakistan
amount of SDR 2 250 million (about $3 billion or 111 percent of quota) to support the authorities economic stabilisation program read the statement issued by the fund The Executive Board s approval allows for an immediate disbursement of SDR894 million (or about US$1 2 billion)
A fully disbursed program indicates that the country has carried out financial reforms and performed well on the economic front SDR stands for Special drawing rights SDRs are units of account for the IMF and not a currency per se but the IMF sets their unit value regularly to facilitate an estimate of the loan amount in five big currencies In July 2019 the PTI led government won approval for an SDR4 268 billion (again around $6 billion) IMF EFF loan
ISLAMABAD S ta f f R e p o R t Finance Minister Ishaq Dar announced that the United Arab Emirates (UAE) has deposited $1 billion into the State Bank of Pakistan (SBP) This deposit has increased the forex reserves held by the central bank and will be reflected in the forex reserves position for the week ending July 14, 2023 In his statement, the finance minister expressed gratitude to the leadership of the UAE on behalf of Prime Minister Shehbaz Sharif Chief of Army Staff General Asim Munir himself and the people of Pakistan
Ever since the PMLN came in power, the government laid groundwork to resume the IMF program which had been suspended
Fo u r s o l d i e r s m a r t y re d i n m i l i t a n t s
t a c k o n a r my b a s e i n B a l o c h i s t a n
QUETTA S ta f f R e p o R t
Militants attacked a military base in northern Balochistan on Wednesday morning killing at least four soldiers and critically injuring another five the InterServices Public Relations (ISPR) said in a statement A t l e a s t t h r e e m i l i t a n t s w e r e k i l l e d i n t h e r e t a l i a t o r y f i r e a n d a n o p e r a t i o n w a s u n d e r w a y t o a p p r e h e n d t w o o t h e r a t t a c k e r s t h e m e d i a w i n g o f t h e a r m y a d d e d S e v e r a l m i l i t a n t s s t o r m e d t h e m i l it a r y b a s e i n N o r t h e r n B a l o c h i s t a n i n t h e e a r l y h o u r s , a t t a c k i n g w i t h g u n s a n d h a n d g r e n a d e s , s e c u r i t y s o u r c e s t o l d R e u t e r s
Earlier in the day Azeem Kakar deputy commissioner of the Zhob where the attack occurred said unidentified men
attacked the cantonment area in the district following which five of them were killed in retaliatory fire
Kakar said “nothing can be said about the number of attackers” but added that all departments were on alert and an op-
g Richards Bay Coal future contracts drop to lowest price since May 2021
ISLAMABAD
S ta f f R e p o R t
The Additional District and Sessions Judge, officiating proceedings in Toshakhana case on Wednesday expressed displeasure at PTI Chairman Imran Khan’s frequent absence from the hearing observing the accused had only appeared in the court once during the seven-month-long trial
Additional District and Sessions Judge (ADSJ) Humayun
Dilawar made the observation while resuming hearing of the reference on Monday a week after the court ruled that the Toshakhana case filed by the Election Commission of Pakistan (ECP) against the PTI chairman was maintainable Imran had challenged the session court’s decision in the Islamabad High Court Tuesday arguing that the ECP did not follow the prescribed procedure in filing the complaint and requested the IHC to set aside the session court s decision
As the hearing commenced, Imran s counsel Niazullah Niazi informed the court that his client had already challenged
LAHORE
S ta f f R e p o R t
contracts are traded on exchanges and are standardised meaning that the terms of the contract such as the quantity and quality of the commodity are set by the exchange
C o n t i n u e d o n pa g e 03
Ten members of a same family including six children and two women burnt alive when a fire swept through a house in Lahore’s crowded Bhati Gate residential area in the wee hours of Wednesday the police and rescue officials said In the dead include two women, two men and six children between six to 16 years lost their lives, Deputy Inspector-General of Lahore Police Ali Nasir confirmed
According to an official statement
He also mentioned that the country’s overall liquid foreign currency reserves including reserves held by banks other than the SBP, will reach around $14 to $15 billion in the coming weeks Prime Minister Shehbaz Sharif also thanked the UAE President for the $1 billion deposit, considering it a critical contribution to stabilizing Pakistan s economy It is worth noting that the Kingdom of Saudi Arabia (KSA) had deposited $2 billion into the SBP s account the day before With the UAE s deposit Pakistan has received a total of $3 billion in external financing from Saudi Arabia and the UAE within the past 48 hours
after the PTI government went back on one of its prior actions After long and hard negotiations and even stricter prior actions,
eration was underway He further said that a woman was killed after being caught in the crossfire while five other pedestrians were left wounded He added that the wounded were being referred to Quetta
According to him a passenger bus coming from Dera Ismail Khan was also caught in the firing INCREASE IN ATTACKS
The first half of 2023 has seen a steady and alarming rise in terror incidents in Pakistan the Pakistan Institute for Conflict and Security Studies (PICSS) said The PICSS revealed in a report that a total of 271 militant attacks occurred during this period resulting in the loss of 389 lives and injury of 656 individuals
Comparatively, the same timeframe last year witnessed 151 attacks causing 293 deaths and 487 injuries the report said Additionally a surge in suicide attacks was also observed during the first half of 2023 with 13 such attacks resulting in 142 deaths and 309 injuries
In comparison, only five suicide attacks were reported during the corresponding period of the previous year causing 77 deaths and 225 injuries according to the report
Pakistan was able to obtain the 5th tranche after the completion of the 7th and 8th review of the EFF
Come the 9th review the veteran accountant and senior party leader Ishaq Dar was appointed the finance minister of Pakistan Ishaq Dar, who was an open critic of his predecessor ’s negotiations with the IMF made the nation believe that Pakistan could get a better deal of prior actions approved by the fund before the next tranche is released
A NEGOTIATION EPISODE:
From here on forth, the negotiations started The 9th review that was supposed to happen by December 2022, got delayed In February 2023 the IMF mission visited Pakistan to form an assessment of the situation but left without signing the Staff Level Agreement (SLA)
The mission s deliberations with the Finance ministry, from then onwards, was supposed to happen online As the danger of default started appearing on the horizon Pakistanis started to get worried about the delays in the Staff Level Agreement
The Finance Ministry did its best to calm people down but no words could have filled the void that was created by the absence of the SLA With each coming day the nation started to fear the inevitable
C o n t i n u e d o n pa g e 03
China’s Huawei poised to overcome US ban with return of 5G phones, research firms say
PR OFIT
R e u t e R S
the session court’s July 8 verdict in the Islamabad High Court and hearing for the plea was scheduled for today (Wednesday)
As the hearing commenced on Wednesday the judge asked: Where is the accused In response, the counsel stated that he intended to file a plea for his client s exemption from appearing in court and requested a two-day adjournment of the hearing
The judge then said: “As a criminal case lawyer, have you ever seen a situation where a case has been ongoing for over seven months and the accused has only appeared in court once?
ADSJ Dilawar instructed Imran s legal team to provide a copy of the IHC verdict and adjourned the hearing till 12:30pm
TOSHAKHANA CASE
The case, filed by ruling party lawmakers, is based on a criminal complaint filed by the Election Commission of Pakistan (ECP) The case alleges that Imran had “deliberately concealed” details of the gifts he retained from the Toshaskhana a repository where presents handed to government officials from foreign officials are kept during his time as the prime minister and proceeds from their reported sales
h o u s e f i r e
from Rescue 1122 the department was alerted about the fire at 2:32am In response the rescue service deployed 33 rescuers and 11 vehicles to the incident s location
The DIG said the cause of the inferno could not be immediately ascertained, but police investigators suspect an electrical short-circuit started the fire in the crowded residential area The Rescue 1122 statement further said that the fire erupted on the second floor of the house, which was located in a very congested area Rescue 1122 further said that the bodies had been shifted to Mayo Hospital
The list released by Rescue 1122 showed that five of the deceased were teenagers while two of them were a four-year-old and a seven-month-old
Meanwhile, Punjab s interim chief minister Mohsin Naqvi has taken notice of the matter and sought a report from the Lahore commissioner on it He ordered a comprehensive investigation into the matter and offered his condolences to the heirs of the deceased family
Later, the fire was confirmed to have been controlled and the cooling process was under way, the rescue service said
China s Huawei Technologies is plotting a return to the 5G smartphone industry by the end of this year according to research firms, signaling a comeback after a U S ban on equipment sales decimated its consumer electronics business Huawei should be able to procure 5G chips domestically using its own advances in semiconductor design tools along with chipmaking from Semiconductor Manufacturing International Co (SMIC) three third-party technology research firms covering China s smartphone sector told Reuters The firms, citing industry sources including Huawei suppliers, spoke on condition of anonymity because of confidentiality agreements with clients Huawei declined to comment SMIC did not respond to a request for comment A return to the 5G phone market would mark a victory for the company that for almost three years said it was in survival mode Huawei s consumer business revenue peaked at 483 billion yuan ($67 billion) in 2020, before plummeting by almost 50% a year later The Shenzhen-based tech giant once vied with Apple (AAPL O) and Samsung (005930 KS) to be the world s biggest handset maker until rounds of U S restrictions beginning in 2019 cut its access to chipmaking tools essential for producing its most advanced models The U S and European governments have labelled Huawei a security risk, a charge the company denies Since then Huawei has only sold limited batches of 5G models using stockpiled chips Stuck selling last-generation 4G handsets Huawei fell from most rankings worldwide last year when sales reached a low point, though it rose to a 10% market share in China in the first quarter, according to consultancy Canalys
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Jail authorities’ refusal to release Per vaiz Elahi draws cour t’s ire
LAHORE
S ta f f R e p o R t
Raising objections to the robkar the Camp Jail authorities on Wednesday refused to release former Punjab chief minister and PTI President Chaudhry Pervaiz Elahi who had been granted bail in money laundering case by a special banking court on Tuesday The officials said they had failed to understand the conditional decision given by the court; therefore they wanted it to be explained Later the officials filed a petition in the anti-corruption court Special Judge Ali Raza Awan who heard the case admonished the jail superintendent and the deputy superintendent, and issued a show-cause notice to them in which they were asked to explain as to why they did not release the PTI president despite court order The court also served a show cause on CEO Anti-Corruption Rizwan Nawaz The court while expressing strong indignation said in its remarks Explain why you did not release the accused despite the release order was issued It should be noted that the anti-corruption court had linked Pervaiz Elahi s bail with the decision of the Lahore High Court on an appeal for seeking the latter ’s physical remand
pakistani automotive industr y sees out worst fisc al year since pandemic
g Vo l u m e d i p s y e a r - o n - y e a r b y 3 7 7 % f o r a c o n t r a c t i o n o f 8 . 1 5 l a k h v e h i c l e s s o l d
The data for June 2023 is out and with that the Pakistani automotive industry can finally breathe a sigh of relief The industry has survived the worst financial year since the pandemic
pRayeR timingS FA J R S U N R I S E Z U H R A S R M AG H R I B S H A 4:20 5:07 1 30 5:30 7:15 9:00 Thursday 13 July 2023 NEWS Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited Ph: 051-2204545 Email: newsroom@pakistantoday com pk
PR OFIT Da n i ya l a h m a D
at
struck, which wreaked havoc on the economy and consumer demand The data released by the Pakistan Automotive Manufacturers Association (PAMA) shows that the total volume of vehicles sold across all segments in the fiscal year 2023 was 13 48 lakh units a 37 7% decline from the fiscal year 2022 when 21 63 lakh units were sold PASSENGER CARS SEGMENT: THE COLOSSAL COLLAPSE The passenger cars segment was the hardest hit among all segments of vehicles as its sales plummeted by more than half from the previous fiscal year The segment comprises various categories of passenger cars such as 800cc, 1000cc, 1300cc and above 1300cc The data indicates that the aggregate sales of passenger cars in the fiscal year 2023 amounted to 97,812 units a 58 6% plunge from the fiscal year 2022 when 2 34 lakh units were sold The downturn was evident across all categories of passenger cars The 1000cc category suffered the most as its sales plunged by 73 2% from 46 300 units in FY 2022 to 12 390 units in FY 2023 The 800cc category also faced a sharp decline in sales by 66 8% from 77,600 units in FY 2022 to 25,760 units in FY 2023 The above 1300cc category experienced a moderate decline in sales by 42 4% from 64 280 units in FY 2022 to 37 062 units in FY 2023 The only category that showed some resilience was the 1300cc category which witnessed a slight decrease in sales by 9 9% from46 000 units in FY 2022 to 41,600 units in FY 2023 Among the major car manufacturers, Suzuki suffered the most, as its sales nosedived by 64 8% from 1 50 lakh units in FY 2022 to 52,913 units in FY 2023 The only model that showed an increase in sales was Swift which sold 9 339 units in FY 2023 up by 50 8% from 6,190 units in FY 2022 However, this was not enough to compensate for the losses incurred by other models such as Alto Wagon R Cultus Bolan and Ravi which all witnessed a steep decline in sales Toyota also faced a significant drop in sales by 54 4% from 75 000 units in FY 2022 to 33 104 units in FY 2023 The Corolla and Yaris models which accounted for the majority of Toyota s sales saw a massive decrease in sales by 66 7% from 56,528 units in FY 2022 to 18,838 units in FY 2023 The Fortuner and Hilux models also experienced a decline in sales by 31 9% from 18 005 units in FY 2022 to 12 266 units in FY 2023 Honda was the least affected among the major car manufacturers as its sales decreased by only 38 7% from 39,452 units in FY 2022 to 24,179 units in FY 2023 The Civic and City models remained the most popular among Honda’s customers as they sold 12 823 units in FY 2023 down by only 63 5% from 35 197 units in FY 2022 The Honda BRV/HRV models also maintained their sales level at around 4 000 units Hyundai s sales declined by 46 1% from 13 132 units in FY 2022 to 7 068 units in FY 2023 The Tucson model was the best seller for Hyundai as it sold 4,774 units in FY 2023 down by only 2 5% from 4,895 units in FY 2022 The Porter, Elantra and Sonata models also saw a decline in sales ranging from 27 5% to 48 5% Sazgar was a newcomer in the car market and it showed a remarkable growth in sales by 291 4% from 467 units in FY 2022 to 1 827 units in FY 2023 The Haval model was the main contributor to this growth as it sold 1,657 units in FY 2023 whilst the BAIC models sold only 170 units LCVS, AND VANS In the van segment, Suzuki’s sales decreased from 14 230 units in FY 2022 to 3 808 units in FY 2023 In the LCV segment Ghandhara s sales decreased from a total of 1 404 units in FY 2022 to a total of 750 units in FY 2023 Hyundai s LCV sales decreased from 1 845 units in FY 2022 to 1,319 units in FY 2023 Tractors, Buses, and Trucks: Decline all around In the truck and bus segment, sales fell sharply by 45 2% from 6 498 units to 3 836 units Hino saw a decrease in truck sales from 889 to 584 units while its bus sales increased from 160 to 254 units Master experienced a decrease in both truck and bus sales from 1 731 to 971 units and from 413 to 263 units respectively
PR OFIT S h a h n awa z a l i
AFTER
year of wait anticipation and prior actions the Executive Board of the International Monetary Fund (IMF) approved the new $3-billion
Arrangement (SBA) for
lows
to get
of
lion The fund
SBA on the
Level
a
Stand-By
Pakistan, which al-
Pakistan
hold
about $1 2 bil-
had already announced the
30th of June when Pakistani authorities and the IMF reached a Staff
Agreement on the newest
the
the
“Today,
utive Board
IMF
SBA
for an
manufacturers, electricit y customers in for a treat as coal prices tumble PFORIT Da n i ya l a h m a D The price of futures contracts for Richards Bay coal coal from the city of Richards Bay in South Africa and the primary coal imported into Pakistan has plummeted to its lowest price since May 2021 Contracts currently trade at $94 35 (Rs 26,124 45 at a spot rate of $1 to Rs 277) per tonne compared to $105 (Rs 29 085 at a spot rate of $1 to Rs 277) per tonne in May 2021 The trend is a continuation of the downward revision that has taken place in the price of Richards Bay coal every month since its recent high of $347 50 (Rs 96,217 50 at a spot rate of $1 to Rs 277) per tonne in August of last year Cement manufacturers and electricity consumers are set to be the primary beneficiaries of this downward revision But first what even is a futures contract? FUTURES CONTRACT EXPLAINER A futures contract is an agreement between two parties to buy or sell a specific commodity at a set price on a future date This allows the buyer and seller to lock in a price for the commodity in advance reducing the risk of price fluctuations For example a farmer might enter into a futures contract to sell their crop at a set price, protecting them from potential drops in the market price Futures
Cement
to s h a k h a n a C a s e : i m r a n’s f re q u e n t a b s e n c e f ro m h e a r i n g a n g e r s t r i a l c o u r t g D e l a y e d t i m e a n d a g a i n , a p p r o v a l c o n c l u d e s a p r o c e s s t h a t e x p o s e d s o m e o f e c o n o m y ' s d e e p e s t f l a w s
K i d s a m o n g 1 0 o f s a m e f a m i l y b u r n t a l i ve i n B h at i g ate
ua e d e p o s i t s $ 1 b i n S B p, b o o s t i n g fo r ex r e s e r ve s
C o n t i n u e d o n pa g e 03