ARABIA , UAE, QATAR COMMITTED TO TANGIBLE INVESTMENTS IN PAKISTAN: PM
R E TA K E R Prime Minister Anwaarul Haq Kakar has said Saudi Arabia Qatar and the United Arab Emirates have committed to clear and tangible investment projects in Pakistan
Speaking in an interview with Dawn News English show Spotlight to be aired on Tuesday night the prime minister said the members and stakeholders of the Special Investment Facilitation Council had worked on identifying various sectors ripe for investment
There is a clear tangible plan with a timeline [on] where to do interventions ” he said as well as who the potential partners would be adding that they were already identified and engaged in communication
We are in the process where probably in the next few months, we will be
realising one, two or three projects in different areas on the ground ” he added Questioned on which countries had expressed serious interest in the venture the premier said: Saudi Arabia UAE and Qatar have shown a lot of interest It’s not just that they have shown interest, they have assured and they have commitments that they would come for some tangible projects in Pakistan
The prime minister s remarks come on the heels of his saying while speaking to journalists at his official residence on Monday, that Saudi Arabia will invest up to $25 billion in Pakistan over the next two to five years in various sectors
He had said Saudi Arabia s investment would come in the mining agriculture and information technology sectors and was part of a push to increase foreign direct investment in Pakistan
If confirmed, a series of investments worth $25bn would be the biggest ever by the kingdom in Pakistan
Meanwhile, in a four-hour meeting with some 50 businessmen on Saturday Chief of Army Staff General Asim Munir had said that during his recent visit to Saudi Arabia he had informed Mohammad Bin Salman that he had not arrived for a $1-2bn investment into Pakistan
The Saudi prince had assured the army chief of investing $25bn in Pakistan under the SIFC aimed at attracting investment in the agriculture sector by offering land and ensuring exports
Sources said the army chief had asked the Saudi prince to set aside $10bn to overcome the country’s foreign exchange issues which would be returned in rupees While referring to the meeting in the UAE the army chief had also requested the UAE ruler to provide $10bn for improving foreign exchange reserves on which the UAE ruler had reportedly agreed Another $25bn investment was also committed by the UAE ruler
Per vaiz Elahi rearrested for 10th time soon after IHC orders release
Gen Munir had also assured businessmen of bringing $25-30bn investment from Qatar and Kuwait in his next visit to improve the country s economy He had said that he would try to bring a total of $75-100bn investment from Saudi Arabia, the UAE, Qatar and Kuwait
I M F P R O P O S
: Meanwhile, questioned about the caretaker government s relief proposals to the International Monetary Fund and their rejection by the fund the prime minister said both sides had explored many venues and there was an agreement that the economic class which did not contribute to the tax base should not be incentivised He said there was a need to look after the economic classes already contributing to the tax net adding that a targeted power subsidy to disadvantaged socioeconomic classes consuming around 200 units of electricity was not discouraged or curtailed by the government or the Fund
‘Shor t and sweet’ verdict soon as SC completes hearing
ISLAMABAD
S
The Supreme Court on Tuesday reserved its verdict on PTI Chairman Imran Khan’s 2022 petition challenging amendments made to the accountability laws bringing months of extensive proceedings comprising more than 50 hearings to an end
A three-member bench comprising Chief Justice of Pakistan (CJP) Umar Ata Bandial, Justice Ijazul Ahsan and Justice Syed Mansoor Ali Shah took up the plea today
In June 2022 the former premier had moved the
apex court against amendments made to the National Accountability Bureau (NAB) ordinance under the National Accountability (Second Amendment) Act 2022
The amendments made several changes to the National Accountability Ordinance (NAO) 1999, including reducing the term of the NAB chairman and prosecutor general to three years, limiting NAB’s jurisdiction to cases involving over Rs500 million and transferring all pending inquiries investigations and trials to the relevant authorities
In his petition the PTI chief had claimed that the amendments to the NAB law had been made to benefit
influential accused persons and legitimise corruption
In recent hearings Justice Shah has repeatedly urged for a full court to hear the case citing the matter of the frozen Supreme Court (Practice and Procedure) law
However, CJP Bandial had opposed it, noting that his retirement was near and the matter had already been pending before the court for a considerable time since at least July 19 2022
In the previous hearing Justice Shah while questioning the bona fide of the petitioner had said he sometimes felt tired of pushing too hard to find errors in the NAB amendments
Pervaiz Elahi s crime is standing for Pakistan, crime is not leaving PTI despite massive pressure,” the PTI posted on social media platform X in its condemnation of the arrest T H E C A S E: The first information report (FIR) against Pervaiz Elahi was registered at the CTD police station on March 18 on the complaint of Ramna police Station House Officer Malik Rasheed
The case pertained to the clashes on that day between Islamabad Police and PTI workers outside the Judicial Complex The case was lodged under Sections 148 (rioting armed with deadly weapon) 149 (unlawful assembly) 186 (obstructing public servant in discharge of public functions) 353 (assault or criminal force to deter public servant from discharge of his duty), 380 (theft in dwelling house, etc), 395 (punishment for dacoity), 427 (mischief causing damage amounting to Rs50), 435 (mischief by fire or explosive substance with intent to cause damage) 440 (mischief committed after preparation made for causing death or hurt) and 506 (punishment for criminal intimidation) of the Pakistan Penal Code and Section 7 (punishment for acts of terrorism) of the AntiTerrorism Act March 18 s events were marred by clashes between the police and PTI workers amid party chairman Imran Khan’s appearance at the Judicial Complex in a hearing for the Toshakhana case
analyst at Arif Habib Limited, said the policy rate could be hiked by 100-150 bps She added, however, that the hike was “not warranted” because inflation would come down in the second half of the fiscal year due to the high-base effect Inflation has remained elevated since mid-2022 rising to a record high of 37 97 percent in May this year However, it has fallen below 30 percent in recent months due to the high-base effect since inflation was already elevated last year, the year-on-year difference in FY24 will not be as high and was recorded at 27 4 percent in August
Tawfik said there would be inflationary pressure in
the near term due to rupee depreciation, high oil prices, and hikes in electricity and gas tariffs “So, obviously, there will be inflationary pressure in the short term It depends on what the SBP [analyses] core inflation or a forward-looking basis The important aspect here is that the inflationary pressure is due to supply and fiscal sides The SBP can keep raising the monetary policy but unless there are fiscal reforms electricity and other reforms, the rate hikes will only increase the government’s cost of borrowing ”
The analyst noted the central bank could also raise the policy rate as the International Monetary Fund (IMF) had asked for a tight monetary policy
Meanwhile Chase Securities Research Director
Yousuf Farooq said the SBP might consider hiking the policy rate to stem the decline in the rupee s value
It closed at an all-time low of Rs 307 1 per US dollar in the interbank market on Tuesday, while it was trading at Rs 323 per dollar in the open market according to the Exchange Companies Association of Pakistan The actual rates offered by exchange companies are likely to be much higher
However, Farooq said the rupee was not under pressure due to current imports [the government removed restrictions on opening letters of credit after reaching an agreement with the IMF] but rather because of pending payments from last year when the central bank asked importers to make purchases with 180-365 days of credit Once those payments are done, pressure on the rupee should reduce, especially after the current round of devaluation,” he added
g PROFITABILITY TAKES A HIT DUE TO INCREA SE IN POLICY RATE, BRANCH NETWORK EXPANSION AND POWER STRUGGLE WITHIN MANAGEMENT ALSO AMONG REASONS
PR OFIT A Z I Z B U N E R I
A power struggle between the board of directors and the managing director of Bank of Khyber (BoK) has allegedly impacting the bank’s performance over the past two years According to sources the board meeting held on August 25 reviewed the performance of the MD digital banking policy HR issues board minutes committee minutes, and six-month performance report
Under the Code of Corporate Governance, the MD’s performance should be reviewed annually, but for the past two years it had not been reviewed due to a lack of interest by the board chairman Private sector directors tried their best to review the MD s performance at their level but were not allowed which severely affected the bank s performance Bank sources said that most of the decisions of the board meeting were previously made with consensus However due to differences between the board and the MD most decisions are being made by the government majority members
Despite strong opposition from the board MD has appointed various favorite people to senior positions,
including the acting group head of Islamic banking, who was given the acting charge until June 30, 2023
The current acting head failed to
R s 1 5 0 0 | Vo l X I V N o 6 7 I 8 Pa g e s I La h o r e E d i t i o n In par tnership with Profit We d n e s d a y, 6 S e p t e m b e r, 2 0 2 3 I 1 9 S a f a r, 1 4 4 5
fulfill his promises and business development and did not meet the objectives According to BoK sources in the appointment of the new company secretary of the bank MD violated merit as he did not follow the recruitment process The newly appointed company secretary has no experience in commercial banking and has no knowledge of corporate governance laws She was previously in charge of legal affairs at KE Solar The bank administration has not yet responded to the queries sent to them for this story BoK’s current financial performance The Bank of Khyber (BOK) has set an impressive financial milestone in the first half of 2023, recording a noteworthy profit after tax of nearly Rs 169 crores This achievement marks a remarkable fourfold increase compared to the same period last year However despite this substantial growth it s worth noting that BOK s net profit margin currently stands at a modest 6%, which is considerably lower than the industry average of approximately 200%
ISLAMABAD S TA F F R E P O R T For the 10th time during the past three months, PTI President Pervaiz Elahi was rearrested on Tuesday hours after the Islamabad High Court (IHC) ordered his release after suspending the detention under Section 3 of the Maintenance of Public Order (MPO)
Islamabad
Pervaiz Elahi
arrested
“I think all limits have been crossed This is injustice with the country and its institutions and equivalent to making a mockery of the law and Constitution The lawyer said as soon as he and Pervaiz Elahi sat inside their car outside the jail, some people blocked our way, forcefully opened our car ’s door and made me, my driver and associate step out” Meanwhile Pervaiz Elahi was “abducted” and taken away he added The PTI shared footage of Pervaiz Elahi s arrest and criticised his arrest Absolutely shameful how courts orders keeps getting disrespected by the fascist regime
Why is Bank of Khyber faltering? SAUDI
The
police said that
was
in a case registered at the Counter Terrorism Department (CTD) police station Reacting to the re-arrest during a media talk in Islamabad, Sardar Abdul Raziq Khan, the counsel for Ch Pervaiz Elahi said:
ISLAMABAD S TA F F R E P O R T
CA
A L S
g C L A I M S I N N E X T F E W M O N T H S, W E W I L L B E R E A L I S I N G O N E, T W O O R T H R E E P R O J E C T S I N D I F F E R E N T A R E A S O N G R O U N D g S AY S T H E R E I S A C L E A R TA N G I B L E P L A N W I T H A T I M E L I N E O N W H E R E TO - D O - I N T E R V E N T I O N S C O N T I N U E D O N PA G E 07 PR OFIT U R O O J I M R A N The State Bank of Pakistan (SBP) is likely to raise the benchmark policy rate in the upcoming meeting of its Monetary Policy Committee
bank
to control the supply of money to
economic growth and decrease inflation The SBP has increased the policy rate by 12 25 percentage points since April, mainly citing rising inflation Four analysts that Profit reached out to expect the policy rate to be increased at the upcoming meeting JS Global’s Head of Research Amreen Soorani and Ismail Iqbal Securities Head of Research Fahad Rauf both expect the policy rate to be raised by 100 basis points (bps) Meanwhile Sana Tawfik a senior
(MPC) on September 14, analysts have said The monetary policy is a set of tools a central
uses
promote
S B P l i ke l y t o h i ke i n t e r e s t r a t e i n u p c o m i n g M P C m e e t i n g
g A S INFLATION KEEPS RISING, CENTRAL BANK MAY RAISE POLICY RATE BY UP TO 150 BA SIS POINTS
R E P O R T
TA F F
N A B L AW A M E N D S
Wednesday 6 September 2023 | LAHORE 02
Wednesday 6 September 2023 | LAHORE 03
M F r e f u s e s t o h e l p
The caretakers have no plan for this month
IT is now official The IMF won’t help the government out of its current hole, and will not relax any of its conditions for its Stand-By Agreement, particularly the ones which have led to the hike in electricity bills and the consequent protests The ramifications are not restricted to the current protests, which have died down, but are probably going to flare up at the end of the current month, when the new bills come in The ticking of the timebomb has grown particularly loud because the next month may see an even greater level of default because those who used the last of their resources to pay off last month’s bill will not have any more resources to call on for this month’s The defaults will grow as will the number of disconnections As people have their meters cut off at the end of September when the heat has not yet come to an end there will be suffering enough but there will also be frayed tempers among already desperate people, and potentially violence
The IMF may be right to maintain a rigidly Shylockian stance, because it has been let down too often by governments trying to weasel out of its conditionalities However, it should realize that this is not temporary unrest which just needs the stakeholders, and especially the government, to hold their nerve until the froth of public resentment settles This is the kind of hardship which might break the entire system However, it is not so much the IMF s problem, so much as the government’s One solution that of bringing to an end the free units given to various officials has been examined and it has been realized that government servants will merely demand the monetisation of that free electricity so the public exchequer remains as burdened as ever Even if government offices which have run up arrears secure in the knowledge they can’t be cut off, were to pay up, the problem will still not be solved, for the money will be squeezed from the people in taxes
The caretakers might still try and come up with a temporary solution, but it seems that only handing over the whole mess to an elected government may be all the caretakers can do It almost seems as if the desire to overstay was unwise Sticking to the timeframe of 90 days seems not only constitutionally correct, but also the safest thing to do
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
h
It ’s an uphill struggle
g d r J a M e s J Z o g b y
WH E N I attend next month s meeting of the Democratic National Committee it will mark my 30th year as a member of that body As an Arab American and one of the longest serving DNC members, I have a story to tell
Because I’ve been there so long some may take my presence for granted And because I ve been a vocal critic of the party s spending priorities and lack of budget transparency others wonder why I remain But because I came on board the hard way and have continued over the years to face repeated challenges, I have learned to never take anything for granted and the importance of staying the course
In the early 1980s as Arab Americans began to organize some viewed our engagement in politics as a threat and placed impediments in the way of our involvement As a result of the pressures they experienced, some candidates returned our contributions, rejected our endorsements, or removed members of our community from their staffs It was a painful period of exclusion
When Jesse Jackson ran for president in 1984 and welcomed Arab Americans into his campaign the community enthusiastically responded Shortly after the campaign, we launched our project to build on this experience by registering and mobilizing Arab American voters and supporting Arab American candidates We created Arab American Democratic and Republican clubs in 20 cities across the USA
After failing in many attempts to secure a meeting with the Democratic Party leadership a meeting was finally set up with a mid-level staff person He had a simple but direct message for us, The reason we won’t be publicly acknowledging your clubs or meeting with you is because doing so would alienate another group that is far more important to us ”
In 1988 we again rode the Jackson train electing over 80 Arab American delegates to the national convention and representing Jackson I was able to mount the convention podium to introduce the firste v e r d e b a t e o n P a l e s t i n i a n r i g h t s A t t h e c o n v e nt i o n ’s e n d , J a c k s o n w a s g i v e n t h e r i g h t t o n a m e eight at-large members to the DNC I was one of
T h e U S - I r a n n u c l e a r d e a l :
I
them Before it became public a party leader asked me to refuse this appointment warning that Republicans would have me in their crosshairs from day one And if the Democrats lost in 1988, my community and I might receive some of the blame for the defeat It was a painful decision to make but when I agreed to stand down incoming party chair R o n B r o w n t o l d m e t h a t h e w o u l d m a k e i t u p t o me and the community When he took over as chair, he called me from his office to tell me that he wanted me to be his first meeting to send the message that the party s door was open to Arab Americans A few months later, he came to an Arab American Institute event the first Democratic Party chair to do so despite threats from some donors that if he even enters the room with the Arabs they would withhold their contributions And toward the end of his term when a DNC vacancy opened up he appointed me to fill it I ve now been a member of that body for 30 years For 16 of those years, I served on the Executive Committee For 11 of them I served as chair of the Resolutions Committee I also served on the party’s Unity/Reform Commission and for many years as one of the chairs of the Ethnic Council which represents 19 European and Mediterranean ethnic communities
M o s t n o t a bly, I l o s t my
e f fo r t t o h av e t h e p a r t y
o p p o s e t h e I r a q Wa r, t o
h o n o u r o u r by l aw s c a l l i n g
fo r D N C m e m b e rs t o r ev i ew
a n d eva l u a t e t h e
e f fe c t i v e n e s s o f
ex p e n d i t u r e s , a n d t o h av e t h e p a r t y b a n „ d a r k m o n ey ‰ t h a t i s p o l l u t i n g
D e m o c r a t i c p r i m a r i e s
decision-making I ve discovered that the problem of politics in our democracy is that it s not about politics It s about money Hundreds of millions of dollars are raised each election by various party entities These funds are then cycled through to a small coterie of consultant groups who in turn raise more money and prepare c o s t l y t e l e v i s i o n a n d s oc i a l m e d i a a d s C a n d id a t e s m a y w i n o r l o s e , but the consultants never l o s e b e c a u s e t h e y a r e n e v e r h e l d a c c o u n t a b l e f o r t h e i r w o r k W h e n I r a i s e d t h i s i s s u e i n t h e U n i t y / R e f o r m C o m m i ss i o n a n d c a l l e d f o r a cc o u n t a b i l i t y a n d t r a n s p a r e n c y, m y e ff o r t s got me removed from the Executive Committee This hasn’t been the only defeat I ve encountered Most notably I lost my effort to have the party oppose the Iraq War, to honour our bylaws calling for DNC members to review and evaluate the effectiveness of expenditures and to have the party ban dark money that is polluting Democratic primaries Faced with these defeats, some have asked me why I remain a member of the DNC
Over the years I have learned that the Democratic Party, like its Republican counterpart, is in need of reform It lacks accountability, transparency, and any real sense of involving DNC members in democratic
My response is that I remember how I got on the hard way and how my community was shut out for so many years And I remember something Jesse Jackson told me 40 years ago when I faced a similar challenge: Don t quit, because that s what your opponents want you to do What they most fear is that you’ll stay and continue to fight ” And so, I will
The writer is President of the Arab American Institute
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
Ambulance services in a war of optics
weapons-grade purity standing at 90 percent a significantly higher and more dangerous level
On the US s withdrawal Tamir Pardo Former Director of Mossad, stated, What happened in 2018 was a tragedy It was an unforgivable strategy, the fact that Israel pushed the United States to withdraw from the agreement ten years early It was a strategic mistake ”
gas The recent efforts of Islamabad to revive the Iran-Pakistan (IP) gas pipeline project would be badly affected if the sanctions are not lifted, as Pakistan is already dealing with a devastated economy
A LT H O U G H Karachi has quite a few ambulance services, including the Sindh Emergency and Rescue Service 1122 and those managed by welfare organisations, finding an ambulance in case of emergency in many city areas, including Gulzar-i-Hijri, is an uphill task In fact, it is not a rarity to find none and make do with some other means
TH E Iran nuclear deal, formally the Joint Comprehensive Plan of Action (JCPOA), was an agreement signed in 2015 by Iran and the P5 + 1 countries (China France US Russia UK and Germany) to curb Iran s nuclear programme in exchange for billions of dollars of sanctions relief
It was the most highly restrictive non-proliferation accord ever reached The agreement required Iran to limit the enrichment of uranium, shut down the Arak reactor, and allow a committee to monitor activities and nuclear facilities constantly
In January 2016 when the agreement was implemented Iran allowed the IAEA to monitor and inspect nuclear facilities eliminated 98 percent of its uranium stockpile, filled the Arak reactor with cement to block the production of weapons-grade plutonium, and provided the IAEA with the necessary information to assess Iran’s nuclear past Iran met the terms successfully during the Obama Administration as mentioned in the JCPOA document It complied with all the steps required to block the pathways of developing a nuclear weapon A noteworthy accomplishment of the JCPOA was extending Iran’s breakout period (the time required to produce a nuclear weapon) to one year This served as an assurance that before Iran could obtain materials for a nuclear bomb the international community would have an ample and prolonged opportunity to respond diplomatically
The evidence of Iran s compliance with the JCPOA terms is flawless, but on the other hand, Trump decided to violate the agreement On 8 May 2018 US President Donald Trump declared his decision to withdraw from the JCPOA a week before the deadline The Iran Nuclear Agreement Review Act 2015 mandates the sitting president to review and suspend several sanctions every 120 to 180 days in order to maintain the nuclear agreement, which did not happen President Donald Trump instigated heavy economic sanctions on Iran following the USA s withdrawal On the contrary Iran intensified its nuclear programme; it began developing centrifuges for uranium enrichment, with
Now the breakout time is predicted to be nearly one month and since Iran has moved much closer to a nuclear weapon it will have severe implications for the region and the whole world (especially for the USA and Israel) Pakistan, a close neighbour of Iran, has strong trade and economic relations Despite many political and ideological differences Pakistan and Iran have made huge efforts to bolster economic cooperation and strengthen friendly relations However, Iran s nuclear programme will bring severe consequences for the country Pakistan is currently dealing with huge security problems The non-state actors residing in Balochistan FATA North Waziristan and Pakistan constantly target different ethnic groups Despite many efforts the government of Pakistan faces criticism as to why the problem persists Iran s nuclear programme may shift the focus of Pakistan from the militant groups to the strategic stability of South Asia
Secondly the ‘maximum pressure’ strategy of the USA which includes sanctions on Iran could affect the energy needs of Pakistan as the country relies deeply on other states for oil and
Thirdly, since Iran has intensified its nuclear programme by producing more and more uranium the non-state actors residing in Iran could become a major threat to Pakistan If the fissile material falls into hostile groups hands they may use it against Pakistan It will certainly compromise the security and, hence, the existence and survival of Pakistan Pakistan has taken an upright stance over the USA violating the Iran nuclear deal that international agreements must be valued Being a close ally to the US and Iran Pakistan stated it would not be drawn into the rivalry and volunteered to work as a broker between the two parties If it violates any agreement, the USA, being a global hegemon, would set an example for other statesas it did in the past by giving an NSG waiver to India If the issue prevails it may take other forms and in the meantime Pakistan may need to revive its nuclear strategy By mutual efforts the USA along with its allies should reinitiate the accord, ensuring compliance of all the parties to the principles of the agreement Diplomacy can work again as it did before
The writer is a research intern at the Institute of Strategic Studies Islamabad; he can be reached at: muhtasimafridi166@gmail com
Pakistan has taken an upright stance over the USA violating the Iran nuclear deal, that international agreements must be valued. Being a close ally to the US and Iran, Pakistan stated it would not be drawn into the rivalr y and volunteered to work as a broker between the two par ties.
Ironically when there is an emergency that is worth being shown on television screens so many ambulances reach the spot that even rescue work gets hampered It is all about visibility which is practically an unpaid advertising campaign for donation-seeking
Another spot where these ambulances are seen and available is tertiary care centres from where the ambulances deliver the ‘service’ of shifting bodies to the houses of the grieving families This service by the way is duly paid for But when it comes to everyday emergencies that carry no profile and involve no bodies these same ambulance services take no time turning down requests citing one reason or the other
Recently, one of my friends father had a roadside accident at Safoora Chowrangi Although Dow Hospital is nearby, it took the family more than half-an-hour to get an ambulance and reach the hospital When Rescue 1122 was contacted, their numbers were found constantly engaged When contact was established with a welfare organisation it said it would call back but never did An ambulance was finally arranged after a lot of physical search It was more like a patient-carrier than an ambulance Its pathetic condition suggested the ambulance itself was on some auto emergency mode But yes, it did the job that day The Sindh government and the new mayor of the city must streamline at least the Rescue 1122 service by adding more ambulances to the fleet and more lines to keep the helpline functional M HASSAN
ABBASI KARACHI
Fleecing the public
K-ELECTRIC (KE) should have been conducting its affairs as a serviceoriented company, but it has turned into a profit-oriented entity The main focus of KE is enhancing the quantum of its earnings by fair means or foul There is not an iota of doubt that the KE management enjoys immunity and does not seem to be accountable to anybody
Recently I was billed a hefty amount of Rs32 552 which I paid after seeking loans from some friends and relatives I wonder how I will pay the bills in the future It seems the National Electric Power Regulatory Authority (Nepra) has no role and is there for nothing but to protect and give a legal cover to the wrongdoings of KE to which the helpless consumers fall victim in the shape of exaggerated bills each month Besides, consumers face breakdowns as well as scheduled and unscheduled periods of loadshedding People belonging to the middle and lower middle class have been left at the mercy of KE The caretaker government should look into the financial woes being faced by the masses and take urgent measures to redress their grievances
HASAN AFZAAL KARACHI
Insulin shor tage
T H E R E is an acute shortage of life-saving insulin Novomix, which, as is common knowledge, is required by diabetic patients on a regular and sustained basis as it needs to be administered daily The government and its regulatory bodies seem to be unaware of this basic fact because nothing else can rationalise their failure to ensure uninterrupted supply of such a critical medicine Instead of passing the buck around playing some kind of weird blame-game, the relevant authorities should get their facts right and address the issue on a priority basis
04 Wednesday 6 September 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 I
IMTIAZ AGBOATWALA KARACHI
m p l i c a t i o n s f o r P a k i s t a n
T
i r t y Ye a r s a n d s t i l l f i g h t i n g
MuhtasiM afridi
S o c i e t y c a n n o l o n g e r g o o n t h i s way
u t
fortunes taking advantage of the inbuilt avenues of corruption in the system of governance
PO V E RT Y is globally acknowledged as a curse because of its destructive potential for societies It has been rightly said that islands of affluence cannot exist in oceans of poverty It implies that if in a society the wealth is concentrated in a few hands and the rest of the people do not even have the means to ensure reasonable living, or if a system of governance is decidedly tuned to serve the interests of the elite at the expense of the poor masses then the chances of that society surviving for a long time are very slim Poverty provides fertile ground for social disorders and revolutions which are usually marked by violence and rebellion against the elite classes by the poor
According to the World Bank poverty in Pakistan stands at 39 3 percent and out of that 22 percent even live below the poverty line Is it not a shame that after more than 75 years of independence a big chunk of the society is living in abject poverty? The situation is undoubtedly a sequel to the ruling elites building their own
As they say, there is a limit to everything The poor no longer seem to take it lying down and one can smell the coming of a revolution if the things are not set in the right direction The people that we see on the streets throughout Pakistan protesting against unbearable enhancement in the rates of electricity and petroleum products to meet the conditions of IMF are surely a premonition for worse things to follow Their lives have become miserable due to the hydra-headed inflation set in train in the backdrop of the arrangement agreed with the IMF, under which the government is bound to end subsidies and increase prices of the utilities My hunch is that we are going to see more increases in the days to come to come up to the expectations of the IMF unless in view of the threatening situation at the moment the agency realizing the dilemma faced by the caretaker government agrees to a package of relief to the people to assuage their anger The government reportedly has approached the IMF in this regard but the problem is that ephemeral steps and relief are not going to resolve the problem A durable and permanent solution needs to be found to put the country on the road to progress and change the economic profile of the masses
The situation confronting the country at the moment is a cumulative outcome of the anti-people policies pursued by successive governments and no one government can be singled out for being responsible in regards to the prevailing tragic situation The reality is that all the governments whether by political parties or by the military dictators remained criminally insensitive to the problems of the poor masses and have been making false claims about development which is adequately belied by the fact that almost all of them invariably sought bail-out packages from the IMF As per record Pakistan has availed 23 such bail-outs If the country had been progressing as claimed by them then they would not have resorted to seeking bail-out packages
Unfortunately the country has been run contrary to the vision of the founding father He was a vision-
ary leader and knew that peace and progress depended on ameliorating the lot of the poor masses While addressing the constituent assembly on 11 August 1947 he said Now if we want to make this great State of Pakistan happy and prosperous, we should wholly and s o l e l y c o n c e n t r a t e o n t h e w e l l - b e i n g o f t h e p e o p l e , and especially of the masses and the poor If you will work in cooperation forgetting the past burying the hatchet you are bound to succeed If you change your p a s t a n d w o r k t o g e t h e r i n a s p i r i t t h a t e v e r y o n e o f y o u n o m a t t e r t o w h a t c o m m u n i t y h e b e l o n g s n o matter what relations he had with you in the past, no matter what is his colour, caste or creed, is first, second and last a citizen of this State with equal rights, privileges and obligations there will be no end to the progress you will make ” Identifying other ills afflicting the polity he observed The first duty of the state is to maintain law and order so that the life, property and the beliefs of the subjects are fully protected Bribery and corruption are really a poison and need to be put down with an iron hand Black-marketing, nepotism and jobbery are other ills afflicting the society which have to be eliminated ”
It is regrettable to note that as a nation we have failed to tread the path envisioned by the founder of Pakistan and implement the priorities outlined by him
According to the World Bank pover ty in Pakistan stands at 39.3 percent and out of that 22 percent even live below the pover ty line . Is it not a shame that after more than 75 years of independence a big chunk of the society is living in abject pover ty?
as a respectable and vibrant nation surely hinges on pathcorrection on priority basis by going back to the drawing board to rediscover our national ethos and the way we were supposed to follow in regards to consolidation of gains of independence and economic prosperity
O u r s a l va t i o n a n d p ro g r e s s l i e s i n c h a n g i n g t h e s y s t e m o f g ov e r n a n c e a n d fo r mu l a t i o n o f a c h a r t e r o f e c o n o my t h ro u g h c o l l e c t i v e w i s d o m o f a l l t h e s t a k e h o l d e rs , w h i c h b e s i d e s e n s u r i n g e c o n o m i c p ro g r e s s , a l s o g u a r a n t e e s f a i r d i s t r i bu t i o n o f t h e p ro d u c e d w e a l t h . T h e p h e n o m e n a l p ro g r e s s a c h i ev e d by o u r f r i e n d C h i n a u n d o u b t e d ly ow e s i t s e l f t o e l i m i n a t i o n o f p ov e r t y. We c a n a t l e a s t t a k e a l e a f f ro m i t s h i s t o r y. AL
GUARDIAN K ao u ta r h a r c h
WH E N Gabriel Attal the French education minister went on national television for an interview to mark the start of the new school term, he had a clear message: I have decided that the abaya can no longer be worn in school ”
He elaborated: “When you walk into a classroom you should not be able to identify the pupils religion by looking at them
An official statement came a few days later confirming the ban on the long loose dress worn by some Muslim women and girls
The practical effect of the announcement is that any young woman who turns up at the gates of her school wearing an abaya faces being barred from attending class or mixing with her classmates But added the minister students will be welcomed and there will be a conversation with them to explain the meaning of the rule
The ban on wearing the abaya should be seen as part of the colonial relationship that exists between the French state and French citizens descended from postcolonial immigration It has a history marked by three key events: in 1989 the principal of a school expelled three teenage girls for wearing headscarves in class In 1994 a government memorandum created a distinction between so-called “discreet” religious symbols which it said were acceptable in schools and ostentatious religious symbols which were not In 2004 a new law banned the wearing of veils or any conspicuous religious symbols in state schools
And now adolescent girls are to be refused the right to study move freely within their educational establishments or associate with classmates and teachers while wearing the abaya The ban is justified by the defence of secularism Historically, the principle of secularism, or laïcité , in France was about protecting the right to freedom of conscience: it requires the state to remain strictly neutral
However over time and under the influence of partisan interests and political alignments secularism has been enlisted to serve a discourse supposedly aimed at protecting the principle of equality between men and women A discourse, in other words that casts Islam as a patriarchal religion and a threat to French democracy It is up to this democracy then to save Mus-
lim women from Muslim men and, more broadly, from the culture of Islam
However, when you listen carefully to some of the speeches justifying the ban on the abaya in schools it becomes clear that there has been a shift It is no longer so much a question of banning a long loose garment to free young women from the grip of the Muslim patriarchy as about protecting other students from the proselytising threat that these abaya-wearing adolescents could present These girls are now seen as school-going envoys of global Islamism
It should be noted that the right and far right in France agree that the abaya is a religious garment On the left, there is a palpable unease about defining it Some are clear that it is not an item of religious dress; others are not so sure
But anyone wading into this debate to make arguments about the nature and significance of a long dress is making a serious mistake, because the debate itself is based on a sexist premise: that these adolescents are sexualised through a femininity that is abnormal It is also based on a racist premise: that these adolescent girls are racialised by being Muslims a religion that seeks to determine their entire being and behaviour These sexist and racist theories combine to produce a third hypothesis: that these adolescents, as women and as “foreigners”, must be conspiring against the French nation
The only debate we should be having is not about what these young girls do with their bodies and what they devote their minds to, but rather the policies deployed by the French state to control the bodies and minds of racial minorities
Remember that on 27 June 2023, a 17year-old named Nahel was killed by a bullet from a police gun at point-blank range – a tragic loss of life that became the 21st fatal traffic-stop shooting by French police since 2020 Most of the victims were of black or Arab origin How, then, can we not link schools’ control of the bodies of racialised adolescents to police control of the bodies of racialised adolescents?
How can we not perceive that to different degrees but right the way up the social ladder, young Muslim women and young Muslim men belong to a group that is subjected to exceptional political treatment?
How can we fail to understand that no matter what these young men and women do or think they are always and already trapped in an otherness that reduces them to bodies without the capacity to reason and who must therefore be governed by white reason?
This is what lies at the heart of this debate: the exclusion of part of the French population from participation in political life We need to reaffirm the right of every French person Muslim or otherwise to exercise their full and complete entitlement to French citizenship
All the ills identified by him have made deep inroads into the social fiber We have taken a detour from the path envisioned by him Our civilian and military rulers both have worked to perpetuate the archaic colonial system of governance
Their machinations have promoted an elitist culture in the country leaving the masses in abject poverty This has not only hindered socio-economic development of the country but has also led to emergence of host of social fault lines, marring national integration and unity
The detour from the vision of the architect of Pakistan has brought the country at the cross-roads Our survival
Our salvation and progress lies in changing the system of governance and formulation of a charter of economy through collective wisdom of all the stakeholders which besides ensuring economic progress, also guarantees fair distribution of the produced wealth The phenomenal progress achieved by our friend China undoubtedly owes itself to elimination of poverty We can at least take a leaf from its history The time is running out for those who have been wielding power and enjoying privileges unchallenged
Malik Muhammad Ashraf is an academic He can be contacted at: ashpak10@gmail com
T h e g l o b a l h u m a n r i g h t s r e g i m e h a s c o l l a p s e d
We u rg e nt l y n e e d a ra d i c a l n e w f ra m e wo r k to p ro te c t t h e f u n d a m e nt a l r i g ht s o f a l l h u m a n b e i n g s
HU M A N rights, as we know them, are dead Amid a climate emergency, seemingly endless conflict and consequent refugee crises the glaring absence of an effective global strategy to safeguard the most fundamental rights of impoverished and marginalised populations across the world has made it clear that the concept of “human rights”, as sacralised by the liberal West has lost all meaning and purpose – for everyone but especially for those of us in the Global South
According to the United Nations as many as 828 million people – or 10 percent of the global population – go to bed hungry each night Of those struggling with hunger, 80 percent are living in areas prone to climate change – areas that are overwhelmingly in the Global South Wars uprisings and coups – often tied to geopolitical skirmishes between global powers – are also disproportionately harming these very same regions
Unable to see an end to their misery, some of those suffering from war famine oppression or destitution in the Global South are embarking on dangerous journeys across desert and sea to find safety and prosperity in the Global North Rather than taking action to protect the human rights of these refugees, however, the Western states who pride themselves in being the inventors of the very concept of human rights are treating them like an enemy As a result tens of thousands are languishing in inhuman migrant detention centres along the US and European Union borders, and the Mediterranean Sea is now a migrant graveyard According to the International Organization for Migration’s Missing Migrants Project more than 28 000 drownings have been recorded there since 2014 The true number of deaths is impossible to know and likely much higher
And drowning in the Mediterranean is only one way people in the Global South, who make up the global majority, are dying en mass because the Western-led international community does not assess their human rights as being worthy of protection
They are also dying in natural disasters aggravated by climate change, and in wars waged to further geopolitical agendas They are being killed by drones and burned alive by settlers
The signs of the death of human rights are omnipresent Western governments are working hard to shield the Israeli apartheid from accountability, while criminalising Palestinians resisting Israel s oppression and those supporting their liberation struggle
The leading social media companies of the Global North are allowing dangerous misinformation targeting already marginalised
and under threat populations to fester on their platforms European countries are still selling a toxic pesticide – banned in the EU because of its proven harms to children and unborn babies – to countries in the Global South And the list goes on All the while, the West continues to try and sell itself as the one true defender of human rights Western nations regularly condemn and even sanction the likes of Russia China and Iran for violating the human rights of their citizens and those living in their influence zones They often make foreign aid conditional on recipients making improvements on human rights protections, and some have even launched military interventions under the guise of addressing human rights violations in the past
In response to the invasion of Ukraine a country at the very heart of Europe for example, the Global North states not only swiftly condemned the grave human rights violations Russia committed there, but also implemented special programmes to ensure any Ukrainian civilian in need can find safety in another country without facing significant obstacles They also put their support behind the International Criminal Court (ICC) and provided its investigators with any help necessary to try and convict the Kremlin
Viewed in isolation, this may be seen as confirmation of the West’s adherence to the international human rights regime it helped build But for those in the Global South who cannot help but compare the West s embrace of Ukraine to its treatment of their own countries, this whole episode is nothing but confirmation of the Global North’s endless hypocrisy
Indeed the countries that took swift action to help the Ukrainian people did not open their borders to the Sudanese in the same manner when they were facing an equally grave military threat They never did it for the Palestinians either, many of whom are still living under the iron fist of a violent invader
They are also very selective about when they would support the ICC Sure they supported ICC s prosecution of Africans when it suited their agenda but they never let its prosecutors anywhere near their own drone wars or unlawful torture programmes – in fact, the US is not even a state party to the court
While they are now condemning Russia and any state that continues to collaborate with it in the Global South they themselves have long been prioritising geopolitical interests over human rights concerns, supporting oppressive regimes and undermining democratic movements
This is arguably the main reason why many Global South nations have been hesitant to support Western-backed Ukraine s resistance against the Russian invasion This crisis in the global human rights regime and discourse is not new
When the Universal Declaration of Human Rights (UDHR) was passed by the UN in 1948 it was celebrated as a big step towards a more peaceful world Coming on the back of the horrors of the second world
war and the Holocaust, it was a ray of hope signalling that a better world where the fundamental rights of all are respected could be possible Yet this dream did not last long
The very nations that developed and pushed for the new human rights regime swiftly started to violate it to further their interests, hurt their enemies and expand their interests
They even attacked several Global South nations to bring them “democracy” and protect their human rights
What is new however is the open rejection of the Western human rights framework by the Global South populations Those who have been suffering the worst of the Global North’s aggression and duplicity since the signing of the UDHR are no longer convinced at all that Western governments institutions and organisations can – or more accurately want to – protect their fundamental rights They now see them as what they are: ineffective, duplicitous, and more crucially, dangerous
Those protesting on Arab streets living under constant attack in the Brazilian favelas trying to survive the open-air prison that is Gaza or looking for a way out of the sprawling refugee camps in Bangladesh no longer believe or expect in any way that the Global North will come and do something to ensure their supposedly sacred “human rights” are not violated
Human rights as it is currently understood and applied in the Global South must not be saved Contrary to conventional wisdom that laments the end of the human rights era and suggests new solutions to safeguard it, it is rather long overdue to move beyond this discourse and imagine radically different egalitarian and progressive principles informed by the struggles and ethics of the people in the Global South
The end of the human rights era should be viewed as an opportunity to forge a new path towards inclusivity and equity that puts the Global South’s, the global majority’s, demands at the forefront of constructing new radical visions and frameworks
Only by moving beyond the West s hypocritical use of human rights as a discriminatory ordering principle for international politics can we create a more inclusive, diverse, and representative approach to defining and protecting everyone’s fundamental rights
In doing so local communities and Indigenous populations in the Global South can take an active and central role in rethinking and implementing environmental preservation and sustainable development
As we face multiple interconnected ecological and humanitarian crises, the international community needs to urgently accept the undeniable demise of the current human rights regime and move quickly to construct a radical alternative that would truly put the fundamental rights and needs of all human beings, including those in the Global South, at its centre
Wednesday 6 September 2023
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COMMENT
MaliK MuhaMMad ashraf
JAZEERA h ay t h e M g u e s M
Haythem Guesmi is a Tunisian academic and writer
Muslims are already excluded from French political life: that’s the real issue in the school abayas row
Kaoutar Harchi is a French sociologist and the author of As We Exist: A Postcolonial Autobiography
S H E H B A Z , D A R T O R ET U R N B A C K I M M E D I AT E LY
s o t h e y c a n s e e u s , A s i f s a i d , a d d i n g t h a t k e e p i n g a d i s t a n c e f r o m p e o p l e w a s n o t a s o l u t i o n
Pakistan-China joint air exercise ‘Shaheen-X’ commences
ISLAMABAD S ta f f R e p o R t
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a w a z S h a r i f ’s h o m e c o m i n g h a s b e e n d el a y e d u n t i l O c t o b e r, S h e h b a z S h a r i f a n d I s h a q D a r s h o u l d r e t u r n t o t h e c o u n t r y i m m e d i a t e l y f o r m e r d e f e n c e m i n i s t e r K h a w a j a A s i f s t a t e d t h i s w h i l e s p e a k i n g o n G e o N e w s p r og r a m m e , A a j w i t h S h a h z e b K h a n z a d a K a y S a a t h T h e r e i s n o d o u b t t h e r e a r e c o u n t l e s s [ c a u s e s o f u n r e s t ] f o r t h e p e o p l e a n d t h e r e i s o n l y o n e s o l u t i o n t o t h i s We m u s t c o n s t a n t l y c o ns t a n t l y s t a y i n t o u c h w i t h t h e p e o p l e
During the show he said that even if Nawaz delays his return to Pakistan in October owing to the fact that no election dates had been announced, the former premier and former finance minister should return immediately to address the criticism that the party has been facing for its decisions during its term in power H e s a i d t h a t P M L - N S e n i o r Vi c e President Maryam Nawaz was in constant contact with the people All of us M N A s a r e s i t t i n g i n o u r c o n s t i t u e ncies, he added The former defence minister, however said that he owned the party’s decision given the state of the economy and the country when the Pakistan Democratic Movement (PDM) began its term He said that the PML-N was part of the PDM coalition government and therefore whole responsibility for the decisions did not lie with the party
‘With Saudi, Go Global’: Huawei Cloud launches ser vices in Saudi Arabia
RIYADH, SAUDI ARABIA
S ta f f R e p o R t
Huawei Cloud has embarked on a historic journey in Saudi Arabia with the launch of the Huawei Cloud Riyadh Region This momentous occasion was revealed at the prestigious Huawei Cloud Summit Saudi Arabia 2023, signifying a pivotal step towards fostering digitalled economic growth within the nation This Riyadh Region is set to become Huawei Cloud’s cornerstone for serving the Middle East Central Asia and Africa promising cutting-edge dependable secure and sustainable cloud services This achievement underscores Huawei Cloud s steadfast commitment to supporting Saudi Arabia s Vision 2030, aligning with the nation s ambitious goals for technological advancement, leadership, and innovation H E Eng Haitham bin Abdul Rahman AlOhali, Vice Minister at the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia lauded this momentous achievement: Huawei is a proud partner in our country s technological progress having worked alongside the Ministry service providers enterprises, and universities in various collaborative efforts towards digital transformation We eagerly anticipate the transformative impact the HUAWEI CLOUD Riyadh Region will have on our digital ecosystem paving the way for new avenues of innovation and growth ” The Riyadh Region offers numerous advantages for customers translating global digital transformation expertise into industry excellence, expediting innovation
However, he added, we take responsibility as a member of the cabinet Asif said that the PML-N leadership could not handle the situation in the way they were expecting He said when Ishaq Dar returned they had no idea that such a disaster was lying ahead Asif also claimed his party knew how to address the different problems facing the nation but could not deliver in the last 16 months
He said: We know where and who is stealing electricity adding that the largest chunk of power theft takes place in markets H e f u r t h e r a s s e r t e d t h a t t h e P a ki s t a n Te h r e e k - e - I n s a f ( P T I ) g o v e r nments in Khyber Pakhtunkhwa resisted c l o s i n g d o w n m a r k e t s e a r l y i n t h e evening to save electricity adding that h i s p a r t y h a d e n s u r e d u n i n t e r r u p t e d p o w e r w h e n t h e r e w a s 1 8 - h o u r- l o n g load shedding in 2013 and brought terrorism under control He said the PDM coalition formed
the government in the wake of the success of the no-trust motion against the PTI government and at that time holding elections was a better idea However the coalition members did not agree to the PML-N s proposal and formed a government instead R e g a r d i n g t h e s u g a r c r i s i s a n d t h e e n s u i n g b l a m e g a m e b e t w e e n t h e P P P a n d t h e P M L - N t h e f o r m e r d e f e n c e m i n i s t e r s a i d t h e d e c i s i o n t o e x p o r t s u g a r m a y h a v e b e e n m a d e b y t h e M i n i s t e r f o r C o m m e r c e b u t i t w a s a pp r o v e d b y t h e E c o n o m i c C o o r d i n at i o n C o m m i t t e e ( E C C ) a n d l a t e r t h e c a b i n e t He said that it was on record that PPP Co-Chairman Asif Zardari at that time was insisting that we would earn a billion dollars by exporting sugar stocks He said there is nothing wrong if PPP s Faisal Karim Kundi wants Bilawal Bhutto as the next prime minister This is the election year and it is their right to pursue their aspirations Asif said
Transforming food system vital for national food security: Mahmood
ISLAMABAD S ta f f R e p o R t S e c r e t a r y A g r i c u l t u r e C a p t ( R e t d ) M u h a m m a d M a h m o o d h a s s a i d t h a t t r a n s f o r m i n g f o o d s y s t e m o f t h e country is vital for strengthening the food system and food security
He was speaking after inaugurating Pakistan Sub-National Food System Dashboard launched by Pakistan A g r i c u l t u r a l R e s e a r c h C o u n c i l ( PA R C ) i n c o l l a b o r a t i o n o f PA R C FA O W F P I FA D J o h n s H o p k i n s University, and the Columbia Climate S c h o o l a t C o l u m b i a U n i v e r s i t y w i t h the leading role of GAIN-Pakistan
The event was attended by high level govt officials heads of development partners including FAO WFP IFAD CABI ADB CIMMYT CABI and other international organization media personnel, and agricultural scientists Muhammad Mahmood took keen interest in various sections of the dashboard and appreciated efforts of all stake holders for their role in developing this dashboard and advised the scientists to maintain it on sustainable bases and to draw meaningful inferences from avail-
able data He also advised PARC scien-
tists to develop Pakistan Food Outlook biannually using data of the dashboard Speaking on the occasion, Chairman, PARC Ghulam Muhammad Ali highlighted PARC contribution in strengthening Pakistan Food System
He apprised the efforts of all stakeholders and development partners especially GAIN, FAO and WFP for their contribution in developing this prototype Sub-national Food System Dashboard Country heads GAIN FAO IFAD WFP and others ensured their technical and financial support to PARC for maintaining and updating this dashboard Representative from Pakistan Bureau of Statistics also endorsed their role in provision of relevant data timely for further strengthening the Dashboard Dr Sadiq Afridi Member Social Sciences PARC ensured to expand scope of the dashboard horizontally and vertically to bring this dashboard at par with other developed countries A diverse range of participants from government, academia research civil society organisations and the development sector participated in the event
The annual Sino-Pak joint air exercise Shaheen-X has commenced in the Jiuquan and Yinchuan cities of Northwest China The Pakistan Air Force s (PAF) lead fighter aircraft J-10 C and JF-17 are participating in the exercise along with air and ground crew The People s Liberation Army Air Force (PLAAF) and PAF have been conducting Shaheen joint exercises since 2011 which are being hosted by both countries on an alternate basis the PAF said in a statement “The Shaheen exercise aims to enhance the aerial combat practices operational readiness promoting interoperability and creating synergy amongst the participating strategic and time-tested allies in the region, it added The statement said that the incorporation of features like hybrid warfare, cyberspace and computing in this air exercise would augment Pakistan Air Force’s effectiveness in the dynamic and evolving landscape of modern warfare The exercise would leverage the iron-brother countries to develop a comprehensive defence strategy to further consolidate their capacity of safeguarding their aerial boundaries in the face of shared challenges The tenth joint aerial exercise between the venerable PLAAF and PAF heralds a remarkable endeavour to strengthen the bonds of camaraderie and unity between the air forces of both countries
Wednesday 6 September 2023 LAHORE 06 NEWS ‘ G
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ISLAMABAD S ta f f R e p o R t
ENIOR Pakistan Muslim League Nawaz (PML-N) leader Khawaja Asif on Tuesday said that PML-N President Shehbaz Sharif and Ishaq Dar should return to the country immediately in view of the growing discontent among the public over the skyrocketing inflation and cost of living A l t h o u g h
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sino-Pak science, tech cooperation conference held in Beijing
TA F F R E P O R T
China-Pakistan Technology and Innovation Conference aimed at developing science & technology bilateral cooperation between China and Pakistan, was held in Beijing on Tuesday, China
Economic Net (CEN) reported
Addressing a sideline forum titled “China-Pakistan Science Technology and Innovation CooperationShared Journey to a Digital Era at the China International Fair for Trade in Services (CIFTIS)
Pakistan Ambassador to China, Moin ul Haque said that China has become a global leader in science and technology and IT fields through strategic investments in AI, 5G, EVs, biotechnology, renewal energy robotics big data and e-commerce adding that Pakistan would enhance technology cooperation
Pakistan itself is committed to its Digital Pakistan vision tapping into its young and enterprising population We are fostering startup culture and have established the Special Technology Zone Authority to attract tech companies to set up R&D centers and manufacturing units in Pakistan
By offering lucrative tax incentives we have seen a surge in our IT sector in recent years he added
The ambassador further said that China and Pakistan had identified IT and science and technology cooperation blueprint under the CPEC framework
It was a conscious choice to organize this event on the sidelines of CIFTIS which has now become a worldrenowned forum for services trade As part of our broader economic partnership we are focusing on fintech IT ecommerce and logistics Pakistan s largest logistics company NLC is participating in this conference today
We have also launched China-Pakistan Digital, Green, and Health Corridors to harness the potential of our two countries in these fields
We are establishing linkages between our academic institutions research organizations and IT companies for practical implementation of our vision and for going forward on a shared journey of digital era In major milestone, we have recently set up China-Pakistan Joint Research Center on Earth Sciences”, he added Ghulam Qadir Commercial Councilor of Pakistan embassy Beijing briefed audience about current business opportunities between two countries
I invited all Chinese businessmen in IT sector to join us and enhance bilateral cooperation and facilitate technology transfer to enable the development of Special Technology Zones across Pakistan”, he added
W
h y i s B a
occurred in 2017 when the year-on-year profit after tax (PAT) took an unexpected 11% dip The following year in 2018 BOK faced another downturn with PAT plummeting by a substantial 74% However BOK managed to bounce back in subsequent years with profitability showing signs of improvement in 2019 and 2020
Nonetheless, the financial PAT once again witnessed a decline, this time by 49%, reducing to Rs 110 4 crore in 2021 and a further 59% decrease resulting in Rs 45 5 crore in 2022 An additional point of interest is that 2022 marked the first time in the past seven years when BOK s net profit margin dipped into single digits, settling at just 5%
Why did the profitability decline?
Simultaneously, operating expenses continued to rise In the fiscal year 2022, the Bank’s non-markup expenses reached a total of Rs 671 1 crore a significant uptick from the Rs 530 crore reported in 2021 This increase can be attributed to a combination of factors including the impact of inflation as well as the mounting operating costs associated with the bank s ongoing efforts in branch expansion and capacity-building initiatives
Pa K - a f g h a n - U
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K R a i l l i n K t o B e g a m e c h a n g i n g f o R e n t i R e R e g i o n : U s m a n o v
UZ B E K I S TA N Ambassador
Mr Aybek Arif Usmanov on Tuesday said that the construction of transregional railway link between Pakistan Uzbekistan and Afghanistan could prove to be the game-changing move which could pave the way for bringing a new era of development of entire region
“Particular attention of our nations and brotherly neighbor nation is the construction project of the UzbekistanAfghanistan-Pakistan railway Last month in Tashkent new project office was established and in Islamabad trilateral recent meeting of the project office hosted by the Government of Pakistan (Ministry of Railways) three countries have signed the Protocol upon the feasibility studies financing and construction of this Game changer project which was historic by all means said the ambassador while addressing a reception held here to commemorate 32nd Independence Day of Uzbekistan
The event, held at a local hotel, was graced by Mr Gohar Ejaz as chief guest while envoys diplomats politicians and journalists also attended Amb Aybek Arif Usmanov said that the diplomatic community is witnessing that same wise approach and long-term Development Strategy is now been implemented in Pakistan under the leadership of Caretaker Prime Minister Anwaar ul-Haq Kakar and all ministries and military institutions of Pakistan
Let me express my believe that every next year meetings will be resulted with new significant inputs for the further cementing of brotherly relations and reconnectivity between Pakistan and
Uzbekistan he added He said that leaders of Uzbekistan and Pakistan underscored the importance of further strengthening of bilateral relations and accelerating regional connectivity in the fields of Pharmaceutical production energy agriculture IT textiles and logistics Inshallah What a honor and exceptional privilege for me to be posted for the third time in this great country Pakistan and to be a humble servant of the re-connectivity between our two regions and nations,” he added “I’m extremely grateful to the President of Islamic Republic of Pakistan Hon Dr Arif Alvi the Government of Pakistan Pakistan army Navy and Air force for great achievements we gained in our connectivity In last years our brotherly cooperation has been elevated to a level of the strategical partnership due to confidant political dialogue strengthening the trade and industrial technological projects as well as the active military cooperation be-
tween our armed forces he added
Only in last 2 years we together have increased nearly half billion of bilateral trade via brotherly Afghanistan based on Transit and Preferential trade agreements No doubt that our teams along with our colleagues will reach very soon the goals of recently signed 1 billlion Trade and Industrial cooperation Road Map, Inshallah, he added
During his fruitful meetings with my President, Prime Minister and uzbek entrepreneurs Dr Gohar Ijaz has in detail devised the longtime and mutually beneficial Strategy for further increasing the trade investment and industrial cooperation between our countries and businesses, he added Only this year after successful highlevel summits of my President and Prime Minister of Pakistan we had conducted the 8th Joint ministerial commission in Tashkent And nowadays we are implementing new connectivity projects with
PM Kakar directs to establish sustainable monitoring system to prevent smuggling
ISLAMABAD
S TA F F R E P O R T
Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed the Customs authorities to establish sustainable monitoring system at irregular border crossings to prevent smuggling in the country
The directives were issued by him on Tuesday while presiding over a detailed briefing by the Ministry of Commerce in Islamabad T h e c a r e t a k e r p r i m e m i n i s t e r w a s b r i e f e d
a b o u t v a r i o u s p r o p o s e d s t r a t e g i e s t o i n c r e a s e d om e s t i c e x p o r t s P o s s i b l e m e a s u r e s w e r e h i g hl i g h t e d b y t h e M i n i s t r y t o c u r b s m u g g l i n g i n t h e c o u n t r y w h i l e p r o p o s a l s w e r e a l s o g i v e n t o i mp r o v e e f f i c i e n c y f o r b e t t e r s c a n n i n g a n d i n s p e ct i o n o f t r a d e g o o d s The meeting took stock of various aspects of trade under the Afghanistan
extremism
For first time ever US Ambassador to Pakistan Donald Bloom on Tuesday paid a visit to Punjab s Central Police Office where he and Inspector General of Punjab Police Dr Usman Anwar agreed to increase working relationships between Punjab Police and American security agencies to combat terrorism and extremism, besides improving representation of young police officers in the training programs of the US US Ambassador Donald Bloom was accompanied by American Consul General Kristin K Hawkins Economics Officer Douglas Johnston, Security Attaché Mike Diamond, and Security advisor Safdar Ali Rao during the visit
According to the Spokesman for the Punjab Police it was the first time any American Ambassador visited the Punjab s Central Police Office During the meeting, security matters of American citizens across the province, including Lahore, and USID programs were also discussed
Talking to the US delegation
IGP Dr Usman Anwar said that the foolproof security of American citizens, investors, and experts coming to the province is the topmost priority, for which the officers of
the Special Protection Unit are working day and night
During the meeting, it was agreed to further promote cooperation in bilateral security matters between the Punjab Police and the United States The US Ambassador appreciated the sacrifices role and achievements of the Punjab Police in the struggle against terrorism and religious extremism
On the occasion Dr usman said that Punjab Police is committed to gender equality and the empowerment of women saying women officer and personnel make up 15 percent of the Punjab Police He thanked the USID for providing advanced training to victim support women officers of Police Tahaffuz Marakaz He also apprised the US Ambassador about the objectives and facilities being provided in Tahaffuz Marakaz and Messaq Centers Tahaffuz Marakazs are playing a significant role in providing assistance and protection to the transgenders destitute children and women suffering from social problems whereas Meesaq Centers are ensuring priority measures to protect the lives and property of minority citizens and delivery of services across the province”, he added The Punjab IGP further said that more than 15 million people have benefited from the state-of-the-art
online facilities of the police Tahaffuz Marakaz, IT reforms, expanding the scope of Safe Cities to other districts for better delivery of services to the citizens He said that the training quality of police training institutes will be enhanced with American cooperation and the force will be equipped with modern equipment
During the meeting, upgrading of the Central Fingerprint Bureau of the Punjab Police with modern skills in artificial intelligence was also discussed Dr Usman Anwar informed the American ambassador about the ongoing measures to eradicate drugs
During the meeting, the American delegation and the IG Police also discussed the establishment of a satellite unit of forensic laboratories in the divisional police headquarters On the occasion the US Ambassador went around the Martyrs and Ghazi Walls and watched artifacts related to the police in the museum at the Central Police Office DIG IT Ahsan Younss DIG Headquarters Humayun Bashir Tarar, DIG Logistics Athar Ismail, AIG Admin Amara Athar, SSP Nida Umar Chatha, SP Iqbal Town Aqeela Naqvi, and ASP Syeda Shaherbanu along with other senior officers were present on the occasion
the help of Chambers of Commerce’s and industrial associations in Islamabad and all provinces of Pakistan ” he added
With your valuable and tireless efforts we been able to arrange in last 2 years more than a dozen high-level meetings more than hundred ministerial summits In Tashkent and Islamabad Samarqand and Lahore, Bukhara and Karachi Peshawar and Termiz we gained most remarkable results – as the people to people contacts business to business forums while strengthening region to region institutional connectivity Alhamdillilah, he added
“Uzbekistan is very grateful to Pakistani politicians military leaders, experts and journalists who visited my country as observers during the Referendum (April 30 2023) and then on early Presidential Elections day (July 9 2023) Many thanks for your valuable input as you all have witnessed the large turnout of the voters supporting the renewed Constitution,” he added
Referring to speech of President of Uzbekistan Mr Shavkat Mirziyoyev in his address on the 32nd Anniversary of the Independence of the Republic of Uzbekistan, the Ambassador said that Mirziyoyev has stressed that large-scale work carried out in recent years and the results achieved serve as a solid foundation for strengthening A clear confirmation is that over the past six years the gross domestic product in the country has grown by more than 1 5 times, and the number of business entities – by 2 times, industrial growth has exceeded 40% We must never forget that natural resources are wealth that belongs to future generations Only united – we are a one nation only together – a strong country the envoy quoted Shavkat Mirziyoyev as saying
Pak-iran cooperation in field of media indispensable: solangi
ISLAMABAD S TA F F R E P O R T
Caretaker Minister for Information and Broadcasting Murtaza Solangi on Tuesday emphasized that cooperation between Pakistan and Iran in the field of media was indispensable saying Pakistan was desirous to promote bilateral ties with Iran in the fields of media film and drama Talking to Iranian Ambassador Reza Amiri Moghaddam who called on him here on Tuesday, he said that cooperation between the two countries in the fields of media was the need of the hour During the meeting the two sides discussed issues of mutual interest fraternal relations between the two countries and promotion of cooperation in the field of media He said that a memorandum of understanding had already been signed between the Associated Press of Pakistan and the Islamic Republic News Agency (IRNA), while many other agreements were under process to enhance cooperation between television films cinema literary and linguistic institutions These agreements the minister said would help project real culture and traditions of the two brotherly countries The two sides agreed to further strengthen and expand bilateral cooperation in various fields, including economic, commercial, cultural and tourism sectors, besides people-to-people contacts The Iranian ambassador congratulated Murtaza Solangi on assuming charge as caretaker minister for information and broadcasting Pakistan highly valued brotherly relations with Iran, Murtaza Solangi said, adding both the countries were bound by deep religious, cultural and linguistic ties The governments of two countries were promoting close cooperation for the betterment of their people and socio-economic development he said The minister and the Iranian envoy agreed on exchange of media and cultural delegations between the two countries Ambassador Reza Amiri Moghaddam said that Allama Iqbal had the status of a national poet in Iran “Iranians hold Allama Iqbal, the great poet of the subcontinent in great esteem ” Solangi said that a film on the life and poetry of Allama Iqbal would be made in collaboration with Iran Our relationship with the Persian language is very old he said adding that Allama Iqbal and Sachal Sarmast had great similarities in their Persian language work Sachal had earned the title of “poet of seven languages” for his works in seven languages, he added He said that cooperation between the two countries was necessary for the promotion of literary works of Allama Iqbal and Sachal Sarmast for other Persian poets The academic literature of Pakistan and Khana Farhang Iran could play an important role in that regard, he added He also stressed for the expansion of economic relations between Pakistan and Iran
PETROL , DIESEL SALES REMAIN ROBUST ACROSS JULY AND AUGUST DESPITE PUBLIC OUTCRY
basis says Omar Shafqaat Chief Operating Officer at Taj Gasoline He explains that this is not due to increased economic or transport activity, but instead because of low activity on account of Eid and Ashura in July “For Eid it takes 6-7 days for commercial activity to pick up and diesel demand to return to its average For Ashura as well the two days are at about 30% of routine daily demand for both diesel and petrol
The monthly growth in volumes for August was also positive at 4%, with MS and HSD rising by 2% and 11% respectively FO continued its monthly fall as well with an 18% decline Overall the second month of FY24 OMC sales volumes were down by 7% annually to 2 8 million tons as compared to 3 million tons in the second month of FY23,
Senate body asks for review of agreements with IPPs to resolve energy crisis
Senate Committee on Power on Tuesday said that the only resolution to this country wide energy crisis is to make efforts to review the agreements of IPPs in detail and have the estimated prices re-evaluated as per their legal framework The Senate Committee on Power met under the Chairmanship of Senator Saifullah Abro to discuss the recently inflated electricity rates, which have led to civil disobedience and restlessness among the masses at large The Committee received a detailed briefing from the Power Division The Chairman Committee after deliberating at length concluded that the only resolution of this country wide energy crisis is to make efforts to review the agreements of Independent Power Producers (IPPs) in detail and have the estimated prices re-evaluated as per their legal framework He said that IPPs should not work independently without monitoring leading to over invoicing He said that the entire infrastructure needs re-examination and review on clauses of misinformation and fraud The Committee remarked that the entire power sector has been set up by IPPs and inquired on what basis the payments were made to the IPPs The Committee expressed its serious reservation on non-provision of 10 years break down of payments made to IPPs and resented that CPPA-G being the center of the power division should know details on figure tips The Committee reiterated that the people of our country will never get relief until unqualified officers are being continued & appointed by the Power Division It was apprised that there are total 104 IPPs and 34 out of 46 IPPs have signed the IPPs relief agreement where tariff rates are being revised It was further told that Ministry of Finance is negotiating with the IMF and are operating under the framework agreed with the IMF The Committee inquired about the breakdown of 44,943 MW installed capacity to which the power Division failed to answer The Committee believed that the total consumption on the existing infrastructure would be 26000 MW however the Power Division replied that installed capacity as a rule must always be double the maximum capacity The Committee chaired inquired on the demand of capacity payment by the IPP which the Ministry again failed to answer The officials said that people will benefit from revised agreement with IPPs The committee sought detailed data on the IPPs estimated figures of tariff and the basis on which it was earlier finalized The Chairman Committee said that all departments will have to play an equal and enthusiastic role to eliminate this dilemma The committee maintained that all the members committee are representing Pakistan as a whole and stand together to redress this public grievance leading to domestic violence and chaos
The Committee sought details on policies drafted for electricity theft and kunda connections It was apprised that 78000 FIR have already been registered and complaint against 12 000 has been lodged
The Committee while deliberating at length the Rebasing of financial year 2022-23 was apprised that 63 5 pc of total Domestic Consumer will have zero Tariff increase and 31 6 pc of total Domestic Consumer tariff will increase from Rs 3 to Rs 6 5 /unit it was further briefed that only 4 9 pc of the total Domestic Consumer will have a tariff increase of Rs 7 5/unit Average tariff increase for domestic consumer will be Rs 3 82/unit and all other categories will have tariff increase if Rs 7 5 unit The
with HSD up by 11% annually, MS up by 8%, and FO down by a staggering 61% annually Shafqaat points out that “more relevant is the year-on-year number for the industry which shows a decline It dropped significantly after the price increase in June 2022 Hence even with a relatively lower base, it has declined further He also adds that we see a significant impact on account of price increase as well as an influx of smuggled diesel which is now readily available in all markets up to Lahore
The pre-buying split
There is speculation that the increase in volumes in recent months has been due to advance buying of products in anticipation of further price hikes, which was indeed witnessed on September 01 2023 again as the price of petrol increased from an average price for June of Rs 253 to Rs 311 on September 01, 2023 The HSD average price of Rs 262 for June 2023 is up to Rs 305 36 for September 2023 so far
Pre-buying is a fact, Shafqaat elucidates, “it happens with every price increase, whilst the reverse happens with every price decrease ” The validity of pre-buying is however vehemently disputed Sources conveyed to Profit that such a phenomenon is currently not possible because refineries are operating below capacity, so whatever product they produce is for immediate use Furthermore given that petroleum imports are planned in advance and amidst the current forex crunch priority is being given to refiners which makes the chances of this even more improbable according to them Looking ahead, Profit has already covered how last week’s rally in global crude markets is set to trigger another round of upward price revisions if it continues or if there is not substantial appreciation by the Pakistani Rupee If these revisions do come to pass September s sales data might not paint a rosy picture even on a month-onmonth basis
Accreditation of HWT plants suspended for exporting untreated mangoes to Iran
In a groundbreaking development with far-reaching implications for mango exports from Pakistan to Iran, the Department of Plant Protection (DPP), a division of the Ministry of National Food Security and Research (MoFS&R) has taken the extraordinary step of suspending accreditation for several companies found exporting untreated or infested mangoes to Iran
According to available documents with scribe M/S Hyder Shah, a Hot Water Treatment (HWT) Plant located in Tando Allah Yar, Sindh, Pakistan, is among the entities facing suspension This action comes in response to a “Notification of Non-Compliance” issued by the Plant Protection Organization (PPO) of Iran invoking the International Sanitary and Phytosanitary Measures (ISPM-13) of the International Plant Protection Convention (IPPC)
The notification from PPO Iran revealed that mango consignments disinfested by M/S Hyder Shah were intercepted at Iranian ports due to contamination with the fruit fly (Bactrocera dorsalis) Consequently this firm is no longer authorized to disinfect mango shipments for export to Iran PPO Iran has also urged the DPP to investigate the matter and take stringent measures to prevent further violations in the supply of quarantine products to Iran
In response to this serious breach, the DPP has also suspended the company’s accreditation effective from August 30 2023 invoking Rule 96 (7) of the PPQR 2019 Consequently M/S Hyder Shah is no longer authorized to disinfect mango shipments for export to Iran in accordance with the agreed technical procedures
This is not the first instance of action taken against M/S Hyder Shah In 2016, PPO Iran had previously suspended the company for similar violations related to the export of contaminated mango consignments with alleged fake treatment certificates Their accreditation however was reinstated in 2020 after they submitted a Commitment Letter pledging to adhere to prescribed standards and guidelines
The recent detection of contamination in mango shipments disinfested by M/S Hyder Shah on May 24, 2023, suggests a recurring violation of treatment standards The company was entrusted with conducting temperature treatment operations in line with the Pakistan Plant Quarantine Rules 2019 and agreed technical procedures between the DPP and PPO Iran It is alleged that false temperature treatment records were submitted to the DPP to fraudulently obtain phytosanitary certificates for untreated mango shipments
In addition to the suspension legal actions are being initiated against the said company for violating regulations under the Pakistan Plant Quarantine Act 1976 and 420 468 / 471 PPC for submitting falsified treatment records
Similarly, the DPP has also suspended the accreditation of another company, M/s AZZ Traders, a Karachi-based HWT plant, for violating phytosanitary standards to export mangoes to Iran This follows the Notification of Non-compliance and Restraining Order reported by PPO Iran The notification from
DPP outlined that AZZ Traders had exported contaminated and untreated mango consignments to Iran It is also alleged that fabricated treatment records were presented to the DPP to obtain phytosanitary certificates deviously for the export of untreated mango shipments to Iran
The DPP emphasized that the Agreed Technical Procedures for Mango Fruit Exported from Pakistan to Iran signed in June 2015 for HWT plant operations required strict adherence to phytosanitary requirements conditions instructions and standard operating procedures M/s AZZ Traders failure to conduct disinfestation treatment in accordance with the standards of PPO Iran and their violation of the bilateral Phytosanitary Protocol led to the interception of mango shipments at the destination port
Given the gravity of the situation and its potential consequences the DPP has canceled M/s AZZ
Traders accreditation with immediate effect This means that the company is no longer authorized to disinfect mango shipments for export to Iran under the Agreed Technical Procedures, at the request of PPO Iran The DPP underlined that the reputation of the organization and the goodwill of Pakistan in the international community cannot be compromised
Both companies M/S Hyder Shah and M/s AZZ
Traders had been summoned to appear before the Plant Protection Adviser and Director General and explain their positions with substantial evidence This meeting was to determine whether these plants will be blacklisted for further disinfestation and export of mangoes from Pakistan Legal action is also underway against these companies for issuing false and fake treatment certificates which has raised doubts about the integrity of Pakistan s plant quarantine system and official procedures
In addition to these recent suspensions, in 2021, Iran revoked the privileges of two companies, Lutfabad HWT processing facility Multan and Zarpak Horticulture HWT processing facility for sending untreated mango consignments and urged the DPP not to allow these companies to treat fruit In 2020 Iran also removed two other companies, Ramzan Associates, Multan, and Millat Trading Company, Quetta, from the list of authorized mango disinfection companies, prohibiting them from treating the fruit In 2015 the Iranian authorities canceled the accreditation of Al-Qaim Mango Processing Karachi for exporting untreated mangoes to Iran with fake treatment certificates Sources revealed that the accreditation of all the suspended hot water treatment plants, including RMC hot water treatment plant situated in Janjhar Goth the fruit and vegetable market the most marshy and unhygienic area of Karachi was rejected by quarantine inspectors of Iran during their visit to Pakistan in 2019 due to critical deficiencies and defects
But the owners of these plants coerced and harassed quarantine officers to recommend and get their noncompliant facilities approved from Iran using political pressure and implicating them in baseless and false FIA inquiries Iran accorded them permission for disinfestation and export at the request of DPP
SC disposes of plea to place deceased dic tator Musharraf on ECL
Special Investment Facilitation Council (SIFC) on Tuesday held interaction with the business community to improve business climate in the country According to details SIFC arranged an interaction with the Business Community of Karachi on 5 September 2023 as part of outreach strategy SIFC s Team led by Dr Jehanzeb Khan made detailed presentations encompassing various aspects of SIFC Initiative Pakistan’s latent potential and investment opportunities in the key sectors of Agri/ Livestock, IT Mining/ Minerals and Energy were highlighted along with ongoing efforts to improve business climate in the country
The Business Community was taken on board to attract investments in Pakistan and be part of valuable projects SIFC ensured to extend its facilitative role in realising such endeavours by domestic investors At the end an interactive session provided the Business Community with the opportunity to share their investment-related feedback and suggestions
The Business Community also displayed keen interest in asking questions related to various investment opportunities and investment environments in general
‘Polls within 90-day period’: PBC urges president to fulfill constitutional responsibility
ISLAMABAD
The Pakistan Bar Council (PBC) on Tuesday, through resolution, urged the President of Pakistan to fulfill his constitutional responsibility and announce an election date as mandated under Article 48(5) of the Constitution The resolution passed during a meeting of the Pakistan Bar Council (PBC) urged President Arif Alvi to fulfil your constitutional responsibility and announce a date for general elections which are to be pushed beyond the constitutionally mandated cutoff date of November 9 if the Election Commission of Pakistan sticks to its timeline for fresh delimitation of constituencies
He does not need to consult or take advice from anyone on the matter as he is competent to announce the election date under the Constitution of Pakistan, 1973, said PBC Chairman Hassan Raza Pasha after the meeting while speaking to the media outside the Supreme Court (SC) in Islamabad
The participants of the meeting including chairmen and vice chairmen of the executive committees of bar councils of all four provinces and Islamabad as well as the presidents of high court bar associations also agreed to go on a countrywide strike on September 9 for the fulfilment of this demand, Pasha said “On September 9, lawyers will take out peaceful rallies hold public meetings and wave black flags at all district and tehsil levels he said
The PBC s announcement comes as the president ECP political parties and other stakeholders take differing stances on the time frame for holding general elections and who has the authority to decide the final poll date
The ECP has ruled out elections this year while the 90-day limit for holding polls following the dissolution of the National Assembly (NA) as mandated under Article 224 of the Constitution ends on November 9
It reasons its decision to push elections beyond November 9 on the basis of the notification of results of the new digital 2023 census and Section 17(2) of the Elections Act which states: “The commission shall delimit constituencies after every census is officially published
However President Alvi invited Chief Election Commissioner (CEC) Sikandar Sultan Raja last month for a meeting to fix an appropriate date for general elections
In his letter to the CEC, the president quoted Article 244 of the Constitution saying he was duty-bound to get the elections conducted in the 90 days prescribed period as the NA was dissolved prematurely on August 9 But a recent amendment to the Elections Act 2017 empowered the ECP to announce the dates for polls unilaterally without having to consult the president
Citing this change to the law the CEC responded to the president saying that participating in a confab with him to decide the election date would be of scant importance
Subsequently, the president sought the law ministry s advice on the matter, and the ministry communicated to the president that the powers to announce the poll date rested with the Election Commission of Pakistan (ECP) after he sought its advice on the matter A day ago the president discussed matters pertaining to elections with caretaker Law Minister Ahmed Irfan Aslam and stressed the need to make decisions in accordance with the spirit of the Constitution
Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited Ph: 042-36300938, 042-36375965 Email: newsroom@pakistantoday com pk PR OFIT S TA F F R E P O R T
PR OFIT G H U L A M A B B A S
S I F C h e l d i n t e r a c t i o n w i t h b u s i n e s s c o m m u n i t y t o i m p r o v e b u s i n e s s c l i m a t e i n c o u n t r y
PR OFIT D A N I YA L A H M A D
ON E may assume that the public outcry over the skyrocketing fuel prices would have impaired sales but that does not seem to be the case It is actually Furnace Oil (FO) that has borne a severe brunt according to the performance of oil marketing companies across July and August Despite the economic slump, soaring prices, lower margins, and currency depreciation sales of High-Speed Diesel (HSD) and Motor Spirit (MS) are on the rise offering a glimmer of hope amidst the downturn Digesting the numbers In July 2023, sales of FO plunged by nearly 60%, while retail products like MS and HSD registered annual growth This trend persisted in August with Oil Marketing Company (OMC) volumes witnessing an 8% annual fall led by a staggering 64% decline in FO On the contrary, HSD and MS incurred an increase of 11% and 13% annually, respectively “The industry did grow significantly on a month-on-month
S TA F F R E P O R T
OFIT
TA F F
g BUSINESS COMMUNITY WAS TAKEN ON BOARD TO ATTRACT INVESTMENTS IN PAKISTAN AND BE PART OF VALUABLE PROJECTS
PR
S
R E P O R T
Committee lamented the confused and complex policies of the power division on relief for domestic consumers the committee unanimously recommended to remove tariff increase below usage of 200 units unconditionally without applying clause 6 of the policy on monthly basis The Committee urges to draft policies in favor of the vulnerable classes rather than shocking them every day with increased rates and also run awareness campaigns to intimate the public of relief given to them The Committee observed that the rebasing and tariff increase does not show uniformity The committee while discussing the budgeted subsidies for FY 24 apprised that a subsidy of Rs 976 billion has been reserved for the Power sector
ISLAMABAD S H A H Z A D PA R A C H A The federal government s total debt increased by Rs 17381 1 billion to Rs 61747 1 billion (a rise of 40%) during 16 months of the Shahbaz Sharif led government, according to statistics released by the State Bank of Pakistan (SBP) According to documents the federal government has obtained Rs 61747 1 billion in July 2023 which was Rs44366 billion in March 2022 Document states that the Central Government External Debt has also surged to Rs22731 billion till July 2023 which includes Rs22 666 4 billion long term and Rs 65 2 billion short term The central bank s data shows that the current government depended primarily on borrowing to cover the gap between its high expenditures and low collection of revenue According to SBP the domestic debt of the federal government jacked up to Rs39015 5 billion in July 2023 which included Rs29587 6 billion long term loans Rs2938 billion unfunded debt and Rs384 7 billion Foreign Currency Loans Under the category of long term loans, Rs 26264 billion permanent Debt, Rs 25,405 billion Federal government bonds Rs382 billion prize bonds and Rs 474 9 billion SBP’s on-lending to GOP against SDRs allocation The document states the short term debt was recorded Rs 9288 9 billion which included Rs9222 billion Market Treasury Bills On the other hand, Debt under the Naya Pakistan Certificates remained Rs139 billion till July 2023 Meanwhile the government obtained Rs22060 billion Pakistan Investment Bonds and Rs 3343 billion GOP Ijara Sukuk the document added S h a h b a z S h a r i f- l e d g ov t a d d e d R s 1 7 , 3 8 2 b i l l i o n t o c o u n t r y ’s t o t a l d e b t ISLAMABAD S TA F F R E P O R T The Supreme Court (SC) disposed of on Tuesday a petition filed six years ago to place now deceased military dictator Pervez Musharraf on the Exit Control List (ECL) A three-member bench headed by Justice Mazahar Akbar Naqvi heard the plea “Isn’t this plea redundant now,” inquired Justice Naqvi “If it had been
hear-
six years
have
peti-
Asif
de-
military
left the country and did not return “Just leave it to the Almighty now ” remarked Justice Jamal Khan Mandokhail Well yeah it is up to the Almighty now,”
the petitioner The court
of the petition Former military ruler Gen (retd)
1999 to 2008,
a protracted illness
a hospital
the United Arab Emirates
February 5 2023 He was 79 Musharraf was handed the death sentence for treason but the punishment was never carried out
fixed for
ing
ago it would not
been redundant replied the
tioner advocate Toufiq
adding that as predicted, the
ceased
general
replied
disposed
Musharraf who ruled the country from
passed away after
in
in
on
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 5:00 5:40 1 30 5:00 6:28 8:15 Wednesday 6 September 2023 NEWS g DEVELOPMENTS
INDUSTRY
FUTURE OF MANGO EXPORTS TO IRAN g B OT H S O A R Y E A R- O N -Y E A R W H I L S T F U R N A C E O I L TA K E S P O U N D I N G
RAISED CONCERNS WITHIN
ABOUT