Epaper_23-09-12 KHI

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PA R L I A M E N T E M P O W E R E D E C P T O

D E C I D E P O L LS D AT E : P M K A K A R

terrorists could not take away an inch of territory of Pakistan and the security forces would respond and manage the situation

AS a counter-measure to President Dr Arif Alvi’s plan to announce a date for general election Prime Minister Anwaar-ul-Haq Kakar on Monday said the Election Commission of Pakistan (ECP) would decide about the date for the upcoming elections

The prime minister, in an interview with a private television, said the Parliament had passed a law according to which the ECP had the power to announce the date for new elections

Speculations regarding the elections should end which would be held according to the prevalent law, he said, adding, “We have no intention to prolong the tenure of the caretaker government ”

He said as a student of the history of Pakistan he would express gratitude to the Quaid-e-Azam for protecting rights of the Muslim minority and saving it from the domination of majority

After seeing the attitude of bigger states against the minorities he said he could see that it would have been difficult to protect the religious and cultural identity of the Muslims if the Quaid had not secured an independent state for the Muslims

He said he admired the Quaid-eAzam for his constitutionalism all-inclusiveness and for protection of rights of minorities

The prime minister assured that action against smuggling would continue and the writ of the state would be established

We are taking these actions so that the new government with its mandate can easily continue our work for public interest

He said the Apex Committee of Special Investment Facilitation Council (SIFC) included current military leadership thus making the Council a strong constitutional and legal body which was taking firm actions and implementing decisions

The caretaker federal and provincial governments had good coordination which was helpful in implementing decisions he noted

He said the SIFC was focusing on economic revival and on sectors of agriculture and mineral extraction How-

ever, work would be done on major plans of investment so that they could be at an advanced stage when the next government would take over he added

PM Kakar said Pakistan had multifaceted relations with Afghanistan and had regular discussions with it on issues of trade, terrorism, security and regional connectivity

Both sides were talking with the realization that neighbours could not be changed he added

To a question about rising incidents of terrorism in the country, he said the terrorists had now more latest weapons, night vision goggles and other equipment which had increased their capacity to fight

However he made it clear that the

The state would show its firmness against terrorists as in no condition anyone would be allowed to resort to violence, he stressed PM Kakar said there was no restriction on the Pakistan Tehreek-i-Insaf (PTI) for taking part in the elections

Talking about the incidents of May

9 he said miscreants resorted to vandalism and arson and the whole incidents were reported by the local and international media The accused involved in the incidents would be dealt with according to the law of the land he added

He said Nawaz Sharif was a thrice elected prime minister and when he would come back to Pakistan he would be treated according to the law

He clarified that he had no intention to start meetings with the leadership of political parties

To a question about the foreign policy he said Pakistan had good relations with all countries adding China was on the verge of becoming the largest economy of the world and the Western world led by the United States was anxious about it and wanted to contain its influence P a k i s t a n h a d a d o p t e d t h e p o l i c y o f L o o k A f r i c a t o i m p r o v e i t s r e l at i o n s w i t h t h a t c o n t i n e n t w h i c h h a d a p o p u l a t i o n o f m o r e t h a n a b i l l i o n p e op l e , h e i n f o r m e d

President Alvi meets with Law Minister again to decide on date for general elections

ISLAMABAD

S TA F F R E P O R T

President Dr Arif Alvi on Monday held another meeting with caretaker Law Minister Ahmed Irfan Aslam for consultation on the upcoming general elections amid rife speculation of an imminent announcement for the poll date

A media report also stated that the president was expected to give the election date at anytime”, according to “sources privy to the development”

The meeting was held at Aiwan-i-Sadr here in continuation of the ongoing consultation process on elections between the president and the interim government, a week after their first meeting on the subject

The continuation of the consultation process with good intent will be positive for democracy in the country, the president was quoted as saying in a statement posted on social media platform X (formerly Twitter) Alvi had emphasised the need to hold elections within 90 days of the National Assembly s dissolution in last week s meeting with Aslam

He had also stressed the need to uphold the supremacy of the Constitution adding that decisions should be taken in accordance with the spirit of the supreme law

According to Article 224 of the Constitution, elections must

has vowed to enact the agreement by 17 September 2023 paving the way for private sector involvement in LNG imports

I believe there s immense potential in terms of empowering a private sector company to import LNG It’s undoubtedly a welcome development because it’s the first step in moving away from the single buyer model that we have for energy in Pakistan

be held within 90 days after the dissolution of the National Assembly This makes the general election due in November

But since the delimitation exercise is unlikely to be completed before Nov 30, elections may be pushed back to late January or early February

The president Election Commission of Pakistan (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 ends on Nov 9 It reasons its decision to push elections beyond Nov 9 on the basis of the notification of results of the new digital 2023 census and Section 17(2) of the Elec-

tions Act which states: “The commission shall delimit constituencies after every census is officially published

However, President Alvi had 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 had quoted Article 244 of the Constitution, saying he was duty-bound to get the elections conducted in the 90 days’ prescribed period as the National Assembly 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 had 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 had 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 ECP after he sought its advice on the matter Interim Prime Minister Anwaarul Haq Kakar took the same position on the matter during his first interview last week after assuming the top office

All of this however has fortuitously fallen in place for Gasport on account of its aforementioned agreement to allow it to proceed with its maiden venture There are no risks at all We need more private parties doing this, and less government,” declares independent economic analyst Ammar Habib Khan

Soya Supreme has become the second edible oil company to plan an initial public offering (IPO) in recent days On Friday the 8th of September, company officials announced that Soya Supreme will be getting listed on the Pakistan Stock Exchange (PSX) and conducted an IPO allowing consumers of their product to own shares in the company Soya Supreme was established in 1991 under the ownership of parent company Agro Processors and Atmospheric Gases (APAG) Thirty two years later, the company has become a popular consumer brand and is finally ready to go public Ahmad Ghulamhussain, the CEO of APAG informed Profit that the IPO is expected to happen within the next six months

The exact timing of the company s IPO will be determined based on prevailing market conditions, Ghulamhussain disclosed in an interview with Reuters It was further informed that the company’s board has granted authorisation to the management to engage Habib Bank Limited (HBL) and KTrade a brokerage firm to commence the IPO process

When inquired about the fundraising target and subsequent valuation of the IPO Ghulamhussain told Profit that, It is a premature time to quote an exact target and comment on the size of the public offering, as the company is still awaiting a board approval on the matter ” He did however emphasise that Soya Supreme would not be selling existing shares rather offering additional shares Soya Supreme’s reasons to opt for an IPO

One would imagine that any company going for an IPO has one main motivation to do so; Capital Injection

However, Soya Supreme’s reasons, even though including inflow of capital and its resultant expansion go beyond just that

Let s break it down

The company is looking to access growth capital and plans to introduce more industrial fats to their portfolio They recently diversified their offerings, adding specialised industrial fats, as well as other fats to the list along with cooking oil which the company is known to manufacture With the import restrictions Pakistan tackled this year importing raw materials became a challenge for the industry Soya Supreme s new additions can be seen as a solution to meet the increased demand from local food companies that rely on imports of soybean and palm oil, which were worth approximately $3 7 billion as of last year

The company plans to improve and expand the export of these specialised industrial fats to regions including the Middle East and North Africa Ghulamhussain shared with Profit So, Soya Supreme dappling in specialised industrial oils will not only serve as a relief to Pakistan s import difficulties, but also help the country improve its export portfolio Moreover the brand offers condiments that include a range of sauces such as ketchup mayo and chicken spread According to Ghulamhussain the IPO will be used to build this segment further

Lastly, and perhaps most interestingly, the company s decision to do an IPO is an ideological one We are not simply doing this to raise funds Soya Supreme is a celebrated brand that its consumers have grown to love We are extending to our consumers the opportunity of owning a part of Soya Supreme said Ghulamhussain According to him the IPO will allow consumers to own the brand in an unprecedented way and to feel the pride of using a product that they own The company expects this decision to enable them to not only expand their footprint and capture more of the market’s share but also to open doors for their consumers to be a part of the brand

Is this a favourable time to go public?

Well, despite the fact that the country has seen some of the toughest times, economically and politically, which might be a demotivator for investors, Soya Supreme is not the only company going for an IPO this year Dalda which is another consumer staple company popularly known for selling edible cooking oil is also planning to raise between Rs 3 3 billion to Rs 4 6 billion through an IPO expected to happen in the following months Dalda delayed its decision to do a public offering earlier this year, due to reasons pertaining to economic instability and poor market conditions However the company might finally take the leap now that there is a competitor in the game who just so happens to have a little more optimistic approach

$13 32 per mmbtu on the LNG Japan/Korea

t

However the previous government renounced the agreement leaving the terminal languishing The caretaker government

contends Mustafa Pasha Chief Investment Officer at Lakson Investments Why don’t private companies import LNG in Pakistan? Private sector companies in Pakistan have historically refrained from importing LNG for a number of reasons Firstly the government owns all of the capacity in the country, and until the Oil and Gas Regulatory Authority passed the Gas Third Party Access Rules (TPA) in 2018, the two Sui Companies had a monopoly on the gas delivery system in Pakistan

Whilst historical obstacles might be out of the way for Gasport it has to grapple with more contemporary ones Getting the price right

“Various countries have presented us with a range of options If the government or any other entity can procure LNG at a price equivalent to or lower than 12% of Brent there is a market for it Ahmed Z Iqbal, Chairman of Gasport, informed the media Ahmed s calculations amount to approximately $11 per mmbtu

However, on a global scale, futures contracts for LNG in October are trading at

Marker (JKM) and $10 78 on the Dutch TTF Natural Gas index Although TTF may appear to be the optimal purchase, it is important to note that TTF is a physical pipeline index and may not fully account for the cost of liquefying natural gas or accessing the pipeline grid TTF has become the most liquid pricing location in Europe and often serves as a pricing proxy for the overall European LNG import market, but this caveat remains Looking beyond October, futures contracts only increase in price, peaking in February for both indexes However even from February to June they remain above the $11 price that Gasport is seeking from the spot market The spot market is typically more expensive than the futures market, but that does not mean it is impossible to achieve “We usually purchase at rates lower than the Japan/Korea Marker The JKM is

generally at a premium compared to the Middle Eastern market so it is entirely possible to obtain it at a lower price than JKM Khan asserts

However, there is no certainty as to whether this can be accomplished “It’s unlikely especially when you factor in country-specific premiums that would apply to Pakistan Pasha remarks

Pakistan currently has access to LNG at approximately $11-$12 per mmbtu through its long-term contracts, which include agreements with Qatar Energy, Qatargas II T1, and a recent agreement with Azerbaijan

Nonetheless Pakistan has not shied away from the spot market According to data provided by the International Group of Liquefied Natural Gas Importers, Pakistan has obtained LNG cargoes from the spot market from Egypt, Malaysia, Oman, Qatar, the UAE, and the USA

R s 1 5 0 0 | Vo l X I V N o 7 3 I 8 Pa g e s I Ka r a c h i E d i t i o n In par tnership with Profit Tu e s d a y, 1 2 S e p t e m b e r, 2 0 2 3 I 1 5 S a f a r, 1 4 4 5
ISLAMABAD S TA F F R E P O R T
PR OFIT D A N I YA L A H M A D Pakistan Gasport is pursuing a spot deal for liquefied natural gas (LNG) in November ending a 16-month drought in the country s spot LNG market The deal is the possible resolution of a protracted dispute between Pakistan LNG (PLL) and Gasport over the utilisation of excess capacity at an LNG terminal The two parties signed an agreement in August 2022 to exploit the idle capacity of Gasport s terminal which can accommodate 750 million cubic feet per day (mmcfd) of LNG, while PLL only has an allotment of 600 mmcfd The agreement would enable Gasport to import LNG on its own and slash the capacity charges from $0 42 to $0 38 per million British thermal units (mmbtu)
The gymnastics behind Pakistan’s possible first private LNG cargo impor
g C L A R I F I E S C A R E TA K E R G O V T H A S ' N O I N T E N T I O N S TO P R O LO N G I T S T E N U R E ' W h a t i s h a p p e n i n g t o P a k i s t a n ’ s e d i b l e o i l m a r k e
PR OFIT N I S M A R I A Z
g PAKISTAN MIGHT BE RETURNING TO THE SPOT MARKET AFTER OVER A YEAR
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PR OFIT N I S M A R I A Z The Securities and Exchange Commission of Pakistan (SECP) has for the first time ever granted a Shariah compliance certificate to a licensed non-banking finance company (NBFC) that specialises in Buy Now Pay Later (BNPL) services The certificate aligns with the Shariah principle of Musawamah, which incorporates profit margins into the sale price of commodities Qist Bazaar (Private) Limited, the recipient of this coveted certification received it under the Shariah Governance Regulations of 2018 The startup caters to investment finance services for which it has enlisted the expertise of a Shariah advisor Mufti Ibrahim Essa from Alhamd Shariah Advisory services Pvt Ltd to structure their financial products and services in compliance with Shariah regulations This unprecedented move marks the issuance of the firstever Shariah compliance certificate for a BNPL platform representing a significant stride towards promoting Shariah-compliant financial instruments and facilitating novel business models for tech-driven entrepreneurs The Commission believes that this can be a pivotal framework for the endorsement of Shariah-compliant entities and securities Arif Lakhani the co-Founder of Qist Bazaar told Profit that Qist Bazaar is the only BNPL service in Pakistan that has received this certification from SECP and that the certification process spanned nearly a year and involved a comprehensive evaluation, including an audit of their financial operations Qist Bazaar has secured a Shariah Compliance Certificate. What does it mean? g IN A HISTORIC MOVE THIS WEEK, SECP GRANTS SHARIAH COMPLIANCE CERTIFICATE TO NBFC QIST BAZAAR C O N T I N U E D O N PA G E 03 C O N T I N U E D O N PA G E 03 C O N T I N U E D O N PA G E 03 C O N T I N U E D O N PA G E 03

KHALID L ATIF GETS 12-YEAR JAIL SENTENCE BY DUTCH COURT FOR INCITING MURDER OF ANTI-ISL AM MP GEERT WILDERS

ISLAMABAD ag e n C i e S

ADutch court on Monday sentenced former Pakistan international cricketer Khalid Latif to 12 years in prison for urging the murder of anti-Islam MP Geert Wilders Latif 37 had offered 21 000 euros ($22 500) for the head of Wilders in an online video after the firebrand lawmaker sought to arrange a competition for cartoons of the Prophet Mohammed (PBUH)

It was not a stretch to think that somebody around the world would have taken heed of the call to kill Mr Wilders,” presiding judge G Verbeek told the court

The accused knew this and his call fu-

Putting backward areas on path of development top priorit y of gov t: PM

ISLAMABAD

S ta f f R e p o R t

Caretaker Prime Minister Anwaar-ul-Haq Kakar has said that putting backward areas of the country on the path of development is the priority of the government He was talking to Country Director of World Bank Najay

Benhassaine who called on him in Islamabad on Monday The Prime Minister recognized that the World Bank is playing a role for the development of the backward areas, especially the remote areas of Balochistan Anwaar-ulHaq Kakar was appreciative of the role played by the World Bank in helping and rehabilitating last year s flood affected people

He said the government will provide all possible administrative support to soon complete the ongoing rehabilitation work in the affected areas Najay Benhassaine briefed the Prime Minister in detail about development of backward areas in Balochistan the ongoing efforts for rehabilitation of flood victims in Sindh and the progress for provision of aid money announced by the World Bank in Geneva for the flood affected people

Petition filed in SHC seeks production of Usman Dar in cour t

KARACHI

S ta f f R e p o R t

Pakistan Tehreek-i-Insaf (PTI) leader Usman Dar s arrest in Karachi was challenged in the Sindh High Court (SHC) on Monday

According to the petition former SAPM

Usman Dar was detained by unidentified men in plain clothes from Malir, Karachi Barrister Ali Tahir has filed petition in the high court on behalf of Kamran a close relative of Usman Dar The petitioner has pleaded to the court for production order of the detained PTI leader IG Sindh Police and others have been made respondents in the petition Usman Dar s residence, factory, and secretariat were sealed in Sialkot The district administration of Sialkot confirmed that this action was taken in accordance with a court order It is pertinent to mention here that Usman Dar had appeared before an anticorruption team in Lahore for an inquiry over corruption charges He and his brothers are accused of receiving Rs5 million as ‘commission’ from contractors in the four Union Councils (UCs) in his constituency Dar appeared before the assistant director of anti-corruption Lahore headquarters Talking to newsmen he had demanded an open inquiry into allegations levelled against him and brothers He alleged that the case was registered against him at the behest of PMLN leader Khawaja Asif

elled the fire to have Wilders killed, he said It is extremely unlikely that Latif, who was convicted in absentia, will serve his sentence Dutch authorities have sought in vain to question Latif over the case and requested legal assistance from Pakistan also to no avail Wilders cancelled the cartoon contest after protests broke out in Pakistan and he was inundated with death threats He has been under 24-hour state protection since 2004 In the Netherlands the plan to stage the contest was criticised widely with politicians local media and ordinary citizens slamming the idea as needlessly antagonising Muslims But the call to kill Wilders appeared to resonate in the real world, with a Pakistani man sentenced to 10 years in prison in

2019 for plotting his assassination in the wake of the cancelled contest

Judge Verbeek said Latif ’s video was not just an attack on Wilders personally but also on the concept of free speech in the Netherlands

Latif played five one-day internationals and 13 T20 internationals for Pakistan but was banned from cricket for five years in 2017 for spot-fixing in a Pakistan Super League match in Dubai His last Pakistan appearance was against the West Indies in Abu Dhabi in September 2016

However Verbeek said that Latif had benefitted from his fame as an international cricketer to add oil to the fire at a time when the Netherlands was already the target of several threats

Tr i b u te p a i d to J i n n a h o n 7 5 t h

d e at h a n n i ve r s a r y

ISLAMABAD S ta f f R e p o R t

On the occasion of the 75th death anniversary of Quaid-e-Azam Muhammad

Ali Jinnah on Monday, caretaker Prime Minister Anwaarul Haq Kakar said the entire nation paid homage to the founder of Pakistan for his tireless struggle vision and leadership skills for the rights of Muslims of the Subcontinent

According to a press statement issued by the PM House, the interim premier added that without the leadership of the Quaid-e-Azam the dream of an independent state for Muslims of the Subcontinent would never have been realised The Quaid-e-Azam s struggle was not only against the idea of a majority denying the rights of minorities on the basis of numerical superiority but also to restore the economic social political cultural identity and a unique way of life of Muslims as a separate nation, he added Kakar further said the Quaid-eAzam’s life was a practical example of principles, constitutional struggle, political vision faith unity and organisation

In Quaid s Pakistan no one has superiority on linguistic class religious or numerical grounds he pointed out

The interim premier noted that the

Constitution of Pakistan truly represented the 14 points of the Quaid-e-Azam, under which everyone had equal opportunities for development and prosperity without detracting from the individual beauty of each unit Kakar observed that the country was currently passing through a difficult period and stressed the need for the citizens to adhere to the principles of the Quaid-e-Azam as much as ever

“There is no better way to pay homage to the founder of Pakistan than to make the country an Islamic welfare state by following his golden princi-

ples, he continued The caretaker premier stressed the need for the citizens of Pakistan to eliminate all kinds of differences and work together day and night for the development of the country

He highlighted the need for renewing the pledge made to the Quaid-eAzam s spirit that the citizens of Pakistan would move forward with unity organisation and conviction

“May the Almighty raise the ranks of the father of the nation and grant us the ability to follow his golden principles, he prayed

K a r a c h i ’s 6 5 S H O s b l a c k l i s t e d

The police authorities in the wake making changes in Sindh Police have decided to blacklist over 65 Station House officers (SHOs) from different police stations across metropolis As per details after renewing the performance of all officers and personnel in each district, lists have been prepared at the Karachi Police Headquarters

After the review of the performance report the higher authorities decided to blacklist over 65 police station chiefs across all three zones in Karachi According to officials the action will be taken against police station chiefs who are found to be involved with smuggling mafia, organized crime, and other illegal activities Last week Sindh police conducted an operation at Karachi s Bilal colony and arrested four suspected individuals Senior Superintendent of Police

(SSP) in his statement claimed that all four arrested individuals was involved in street crime activities in the metropolis “The suspects used to open fire if the victim resisted during robbery and often used police caps during their criminal activities SSP maintained The accused had also robbed Special Branch official Tanveer, and snatched his mobile phone, official

weapon and flee from the scene Tanveer s mobile phone has also been recovered from the possession of the arrested accused SSP further added that the culprits used to sell the stolen mobile phones to Jehanzaib for Rs 8 000 to Rs 10 000 adding that the buyer – an IT expert – used to change the IMEI [International Mobile Equipment Identity] of the stolen mobile phones

LHC adjourns Jaranwala case hearing till Wednesday

mission for prompt justice,” petition read

LAHORE S ta f f R e p o R t

The Lahore High Court (LHC) on Monday adjourned hearing of a petition, seeking constitution of judicial commission to probe violent incidents in Jaranwala against Christians till September 13

The petitioner filed a plea seeking adjournment of the plea The high court directed Assistant Advocate General to

submit report on the matter

The bench had served notices to Punjab government and other respondents for September 11 (today)

Fundamental human rights of the religious minority, mandated in the constitution, have been violated in Jaranwala violent incidents,” the petition read “Existing mechanism of the probe has been slow-moving the court should issue an order for constitution of judicial com-

S ta f f R e p o R t

The 58th death anniversary of Major Raja Abdul Aziz Bhatti (Nishan-e-Haidar) would be observed on the country tomorrow (Tuesday) On the occasion his grave would be adorned with floral wreaths and fatiha would be offered for him In order to give tribute to the martyr, special prayer ceremony will be conducted different cities He was the commander of Pakistani troops in 1965 Pak-Indo war at Barki sector in Lahore He fought with the enemies for 48 hours and caused great losses to Indian troops He was martyred when enemy tank fired upon him Raja Aziz Bhatti was rewarded with the prestigious Nishan-e Haidar for his services to Pakistan

Kashmore: Locals save two youth being kidnapped by bandits

KASHMORE S ta f f R e p o R t

Two young men were injured in firing of bandits when local people resisted and saved them from abduction in Bakhshapur police remit on Monday The young men cried for help when a gang of bandits tried to kidnap them Local people gathered and saved two victims from being plucked by the outlaws The bandits resorted to fire during resistance in which two youth sustained injuries The injured were shifted to local hospital for medical attendance Police reached to the crime scene to investigate the incident It is to be mentioned here that the northern districts of Sindh facing rampant lawlessness including kidnapping and other crimes Citizens protesting against failure of police and a protest sit-in staged at Bakhshapur Indus Highway to press for recovery of hostages from bandits We will continue this protest till recovery of the last hostage, protest leaders vowed People blocked the Indus Highway with hurdles and staged sit-in against abductions in the area infamous for rampant kidnappings of common man by outlaws in cahoots with influential quarters

The sit-in blocked traffic from Sindh to Balochistan and Punjab Large lines of vehicles witnessed on both sides of the road

Elahi’s bail application hearing postponed in judicial complex attack case

ISLAMABAD

S ta f f R e p o R t

The Anti-Terrorism Court of Islamabad adjourned the hearing on Pervaiz Elahi s bail application till tomorrow Tuesday Judge Abul Hasnat Zulqarnain of the ATC heard the application of Elahi and his lawyer Abdul Raziq appeared in the court The prosecution did not submit the records even on Tuesday

The lawyer requested for the medical test of the former chief minister and the court approved the request and issued instructions to the superintendent of Adiala jail Later, the court adjourned the hearing on PTI President Elahi’s bail application till tomorrow

community

A petition filed by Shehbaz Soraya Advocate and another by the Grace Bible Fellowship Church had earlier said that over 600 people were involved in vandalizing and violence against Christian citizens and pleaded for a judicial probe of the incidents happened in Jaranwala on August 17 Christians facing hardships and have security concerns petitions read while seeking protection to the religious minority

A mob had attacked vandalized multiple churches and torched homes belonging to the Christians in Jaranwala in Faisalabad district over blasphemy allegations

The Jaranwala police had registered terror cases against more than 600 people on August 17 for “vandalizing multiple churches and torching homes belonging to the Christian community

Money launderers open indiscriminate fire on FIA personnel to esc ape arrest

A gang of money launderers have allegedly opened indiscriminate firing on a team of Islamabad police and commercial banking circle of Federal Investigation Agency (FIA) with sophisticated weapons when the cops carried out a raid on a house located in F-6/3 Sector to apprehend a notorious money hoarder informed sources on Monday However the cops of Islamabad police and FIA officials remained unhurt in the brazen armed attack and held the wanted accused Sheikh Murid Hussain, they said A case has been registered against the accused and the females residing in the house with Police Station (PS) Kohsar under

sections 324/506ii/353/186/148/149 and 427 of Pakistan Penal Code (PPC) on complaint of SI Muhammad Jamil, sources said Police also seized illegal weapon and 25 dead shells of Kalashnikov and 30 bore pistols from crime scene and shifted the accused to police station for further investigation they added Raids are being carried out to round up the fleeing members of money laundering gang

According to sources, SI Muhamamd Jamil, who is posted in PS Kohsar, submitted a plaintiff with Station House Officer (SHO) stating police along with FIA officials raided the house number 56 in Street 27 of Sector F-6/2 to arrest the owner of Fair Deal Money Exchange Sheikh Murid Hussain in connection with inquiry of illegal hoarding foreign

currency at 10:30pm on September 10

He added the officers of FIA made accoutrement that they have search warrants on which some armed persons appeared from inside the house who opened indiscriminate firing on police cops and FIA officials Nonetheless the cops narrowly escaped the deadliest armed attack by 4 to 5 men who later on managed to escape from the back side of the house, the police officer mentioned in the plaintiff He was of view that the females residing in the house also showed resistance to cops of police and FIA officials when they entered inside the house for searching A man namely Sheikh Murid Hussain was also overwhelmed by the police cops from whom a Kalashnikov was also recovered

The arms holder could not produce the license of weapon upon demanding by the police Police also seized 25 dead shells from crime scene and held the accused Sheikh Murid Hussain, he said while requesting SHO to file a case against the accused for attacking police and FIA teams A case has been registered against the accused while further investigation was on A source disclosed to The Nation that FIA held Sheikh Murid Hussain and his son Sheikh Ali Hussain besides recovering foreign currency from the house On the other hand a court of law reportedly sent Sheikh Murid Hussain to Adiala Jail on 14 days judicial magistrate remand when police produced him before a magistrate for obtaining his physical remand

Also Commercial Banking Circle of FIA led by Assistant Director Mehak Gull carried out a raid on Paracha Traders in Raja Bazaar and arrested four persons involved in illegal money exchange, according to FIA HQs spokesman He said the accused were running illegal money exchange without having license/permission of State Bank of Pakistan

The detained accused have been identified as Abdul Rahman Paracha, Bilal Kalim, Tauseef Ahmed and Muhammad Navid against whom a case was also registered He said FIA recovered Pakistani and foreign currency worth Rs 3 million from possession of the accused DG FIA appreciated the efforts of AD FIA CBC Mehak Gull and her team for netting accused involved in illegal money exchange business

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A S I A C U P 2 0 2 3 : PA K I S TA N H U M B L E D I N S U P E R 4

C L A S H A S I N D I A R E G I S T E R S R E C O R D W I N

COLOMBO

S ta f f R e p o R t

VI R AT K O H L I and returning KL Rahul hit unbeaten centuries to lead India s 228-run thrashing of Pakistan in a rain-hit Super Four clash of the Asia Cup on Monday’s reserve day Kohli (122) and Rahul (111) put together 233 runs as India reached 356-2 a total defended after they bowled out Pakistan for 128 in the 50-over contest in Colombo Pakistan ended on 128-8 in 32 overs with injured bowlers Haris Rauf and Naseem Shah not turning out to bat India spinner Kuldeep Yadav returned figures of 5-25 India resumed on 147-2 after rain ended play early on Sunday and pushed the match into an additional day set aside by the tournament, which is a precursor to the ODI World Cup Rain again delayed the start but no overs

Parliament empowered ECP to decide polls date: PM Kakar

CONTINUED FROM PAGE 01

He said Saudi Crown Prince Mohammed Bin Salman would visit Pakistan on a mutually agreed time when both sides would be ready to announce projects for investment

Responding to a question he said Kashmir was part of body soul and collective memory of Pakistan and Kashmiris aligned themselves with Pakistan The PM said sports including cricket should not be politicized and the issues concerning cricket with India should only be raised by officials of the cricket board We are making Pakistan a secure country for sports

But we cannot force a country to play in Pakistan, he commented He said he met with vice chancellors of universities in a meeting during his visit to Quetta and now he would meet with officials of the Higher Education Commission to resolve issues facing the education sector with a focused attention He said the government would soon decide about the issue of giving relief to the electricity consumers

Training courses completed for New Gwadar Int’l Airpor t

GWADAR S ta f f R e p o R t

As skilled manpower is a key prerequisite to operate New Gwadar International Airport (NGIA) which is highly likely to be operational in September China has completed Training Courses for government officials It is the first of its kind human resource training courses aiming to train public office holders in a bid to help them hone their technical administrative and managerial expertise A Civil Aviation Authority official told Gwadar Pro the Government of Pakistan did not bear any cost as all expense incurred in the process of conduction of training course has been executed under China’s aid He said that most of the officials from Civil Aviation Authority in the section of operation management security engineering & mechanical work have completed the course He further said that on July 27, former Prime Minister Shahbaz Sharif officially inaugurated major component of NGIA, a high-priority project of CPEC in a watershed moment of the tenth anniversary of Belt and Road Initiative (BRI) He unveiled completion of the airbase infrastructure of the airport including runway, taxiway and apron NGIA marked a milestone cooperation between China and Pakistan under the framework of CPEC, fostering a saga of air transport infrastructure and economic growth that will change the fate of Gwadar an emerging logistic hub and center piece of regional and international connectivity

were lost and then the Kohli-Rahul pair roused the Indian fans at a largely empty stadium Rahul who returned from an injury lay-off raised his bat to celebrate his hundred and was hugged by Kohli who soon brought up his own ton after surpassing

13,000 ODI runs

Half-centuries from skipper Rohit

Sharma and fellow opener Shubman Gill got India off to a good start on Sunday with a

121-run stand Kohli and Rahul resumed cautiously on their overnight scores of eight and 17 before they took to the Pakistan attack with 100 runs in 102 balls

Pakistan suffered a blow when officials said fast bowler Rauf had suffered a strain and would take no further part Later fellow quick Naseem also walked off with some discomfort to his hand Rahul smashed 12 fours and two sixes including whipping Shadab Khan over midwicket, in his 106-ball knock Kohli finished

the innings with a six down the ground against a bowling attack that lacked sting Sloppy fielding added to Pakistan’s woes

Pace spearhead Shaheen Shah Afridi and Shadab got a wicket each on Sunday

Ground staff worked tirelessly to get the field ready after Monday s early rain

Pakistan were never in the chase after they lost two early wickets, including skipper Babar Azam bowled for 10 off an impressive in-swinger by Hardik Pandya

Rain once again interrupted play but not the Indian momentum as the bowlers kept up their charge after resumption and Kuldeep sent back Mohammad Rizwan with his leftarm wrist spin Wickets kept tumbling and Kuldeep got three more to get into the Pakistan tail and then claimed his second ODI five-wicket haul

The extra day was a last-minute addition to the Super Four clash the only game to get the advantage other than the

final after a previous group game between the two teams was washed out in Pallekele India will head into a third suc-

cessive day of cricket when they meet Sri Lanka in the next Super Four clash on Tuesday at the same venue

C

aretaker PM for necessar y arrangements ahead of Hajj 2024

arrangements for the pilgrims

The gymnastics behind Pakistan’s possible first private LNG cargo import

ISLAMABAD a p p

Caretaker Prime Minister Anwaar-ulHaq Kakar on Monday directed the Caretaker Minister for Religious Affairs and the secretary to make arrangements ahead of coming season of Hajj under their supervision

The prime minister chaired a

preparatory meeting regarding Hajj 2024 The meeting was attended by Caretaker Minister for Religious Affairs Aneeq Ahmed, secretary and other relevant authorities, PM Office Media Wing said in a press release The prime minister also asked for the formulation of a committee to review the Hajj arrangements and opined that there should be no compromise over the

The prime minister directed for submission of a comprehensive report over complaints of the pilgrims related to Hajj 2023 A directive was also issued to the relevant ministry and ministry for IT for the launch of a mobile application and website for offering facilitation and registration of complaints for the intending pilgrims in the upcoming season through their joint collaboration PM Kakar also directed for constitution of a reforms committee to submit a report regarding complaints about the private Hajj companies with suggestions There was need to keep a vigilance on the private Hajj companies so that the pilgrims sent by them should not face any difficulties he added

During the meeting the caretaker prime minister also asked the minister and the secretary to personally visit Saudi Arabia, supervise the arrangements for the upcoming Hajj 2024 and submit a comprehensive report in this regard

What is happening to Pakistan’s edible oil market?

CONTINUED FROM PAGE 01

Profit asked Ghulamhussain to share his sentiments regarding Soya Supreme’s decision to do an IPO during a time of economic uncertainty to which he said There will always be good and bad times and there is never enough certainty

However I am quite optimistic and I believe that we are a very resilient society

It does not take long for the situation to improve, so we don’t know what might happen in the next six to eight months ”

He continued “Pakistan has great potential and a promising future so I am quite hopeful Plus I believe that it is always better to start something at a bad time, so that you can reap the results at a better, more favourable time ”

T H E Y E A R O F I P O S

It seems like the IPO is the new buzzword of 2023 what with all the public offerings we keep hearing about!

During a gong ceremony commemorating the IPO of Symmetry Group Ltd, PSX Managing Director Farrukh

H Khan revealed that two other industrial sector companies are progressing with their IPO plans alongside Fast Cables Ltd a manufacturer of electrical cables and conductors The PSX has approved prospectuses for seven companies seeking to raise capital, including Pakistan Reinsurance Company Ltd International Packaging Films Ltd

Regal Automobile Industries Ltd Secure Logistics Group Ltd Searle Pakistan Ltd Dalda Foods Ltd and Fast Cables Ltd These approvals span from 2021 to 2023, with sponsors awaiting favourable market conditions to offer

their shares at a premium, a race that has now been joined by Soya Supreme Public listings were scarce in the FY 2022-23 with only one IPO Globe Residency REIT raising Rs1 4 billion Symmetry Group Ltd s listing is the only IPO so far in the current calendar year Khan, while encouraging tech companies to seek public funding through the stock exchange noted that tech companies in Pakistan often have multiples comparable to their regional and international counterparts, unlike old-economy stocks that usually trade at lower multiples He urged tech companies to prioritise raising capital even at lower valuations to support long-term growth

It is safe to say that the next year might witness an abundance of IPOs

Pakistan’s edible oils sector is huge, and understandably so, considering the country’s population that currently stands at 231 4 million people most of whom cook their food in some form of edible oil According to Euromonitor s 2022 country report on Edible Oils, the size of the market was more than Rs 400 billion in terms of retail value The present market division within this multi-billion rupee sector is such that 75 7% of the market is controlled by 11 major brands including the likes of Dalda, Mezan, Sufi, Habib, Kashmir, Eva, Kisan, Soy Supreme, Seasons, Bertolli and Pakwan

Based on data presented by the same source Dalda takes the biggest market share in terms of retail value with a whooping 19 9% retail value

share, followed by Mezan, Sufi and Habib that take up to 9 1% 8 7% and 7 7% of the retail share respectively

Within this category Soy Supreme had a 5 2% market share in 2022 with a promising 5-year trend of increasing market share The report emphasises that in 2022, inflation led to a significant increase in prices particularly affecting edible oils This price surge placed a burden on the lower-middleclass and rural populations forcing them to become more price-sensitive, consequently, prioritising affordability over quality Small local companies responded to the demand for cheaper cooking oil options particularly in informal retail channels These budgetfriendly products gained traction especially in smaller cities where even a slight difference in price significantly influenced consumer purchasing decisions This shows that despite the ever growing size of the market pricing is an important factor that might continue to influence the current market division That being said it is pertinent to note that there is growing awareness and concern for clean eating among upper-middle class consumers, making manufacturers more focused on the quality of edible oil Consumers are making purchasing decisions based on health benefits and trustworthiness aiming for products suitable for the whole family, which presents an opportunity for importers and high-end brands to establish strong aspirational positions due to the high value these products hold and the relatively low price sensitivity of these consumers

Qist Bazaar has secured a Shariah Compliance Cer tificate. What does it mean?

pressing problem by catering to individuals who lack access to formal banking channels and tools

Profit requested analyst Waqas Ghani to share his insights on this unprecedented development He said that, “Services like these can help individuals who do not have a bank account in accessing credit and taking part in economic activities potentially contributing to economic growth

If BNPL services adhere to Shariah principles, they may also attract those uncomfortable with conventional interest-based credit options ”

Secondly Lakhani also mentioned that Qist Bazaar has a Shariah advisory firm on board This advisory firm not only guides them in adhering to the principles of Musawamah in their processes but also ensures that business operations, advertising practices, and other aspects align with the teachings of Islam “This commitment to transparency and compliance means that Qist Bazaar does not impose processing costs late fees or any hidden charges on its customers, Lakhani shared Profit reached out to Shehryar Hydri, Managing Partner at Deosai Ventures, to share his perspective on this new model of shariah compliant BNPL

CONTINUED FROM PAGE 01

However, when it is not the Government of Pakistan purchasing these contracts, it becomes an entirely different matter

remains to be seen if the government allows private entities to sell to private parties or it requires them to sell to the grid and system If that is the case then you re back to square one in terms of circular debt and line losses and theft etc,” States Pasha

Whilst the TPA does exist actually going through with third party access to Pakistan’s gas infrastructure is another matter entirely and one that remains to be seen Even if the Government of Pakistan were to allow Gasport to go ahead with the contract, and even sell directly to private buyers, Gasport would need to contend with Pakistan’s archaic gas infrastructure or devise their own delivery mechanism in order to avoid Pakistan s circular debt ridden system How is this deal going through at a time when Pakistan is in the midst of a forex crisis, and banks are wary of opening letters of credit? Gasport says it will employ a barter system to carry out its trade

The output from Pakistan s mature fields is on an inexorable downward trajectory BMI Research paints a grim picture, forecasting a steady decline in gas output from 32 39 billion cubic metres (bcm) in 2023 to a paltry 25 59 bcm by 2032 This compels Pakistan to dig deeper into its pockets for LNG imports a formidable challenge given the country s balance of payment crisis and the sky-high global gas prices The influx of LNG is set to balloon at a compound annual growth rate of nearly 10% over the same period escalating from 6 90 bcm to a whopping 16 2 bcm

Intriguingly the government may not be the lone wolf initiating these imports

The current economic quagmire in Pakistan has forced the Energy Ministry s hand to impose curbs on LNG imports, directing PLL to scale back its purchases Amidst this backdrop private entities find themselves in a favourable position to step in and facilitate LNG imports explains Jawad Majeed General Manager at Tabeer Energy Majeed further sheds light on the potential windfall this arrangement could bring about, which could include “stemming forex outflow, stabilising prices ensuring greater availability and fostering a potential marketplace teeming with participants in the future As it stands Pakistan is steeling itself for a grueling winter marked by gas supply rationing Gas will be doled out thrice daily for cooking to households due to severe foreign exchange shortages as per officials from the country’s petroleum ministry Pakistani households will have gas at their disposal for three hours in the morning two hours in the afternoon and three hours in the evening The country has also been grappling with procuring LNG from the international market due to prohibitive spot prices However, a mild winter in 2022-2023 coupled with reduced gas demand in Europe have resulted in storage levels being significantly higher than usual Consequently futures contracts are not trading at last year s exorbitant rates So maybe Gasport is into something that could surprise us all?

PMD predicts rain at isolated places

ISLAMABAD

S ta f f R e p o R t

Pakistan Meteorological Department (PMD) on Monday predicted rain at isolated places but hot and humid weather persist in most plain areas of the country According to PMD most plain areas were likely to witness hot and humid weather but rain-wind/thundershower was expected at isolated places in Islamabad, Potohar region, northeast Punjab, Kashmir and adjoining hilly areas As per synoptic situation, continental air was prevailing over most parts of the country A shallow westerly wave was present over upper parts of the country During the last 24 hours hot and humid weather prevailed over most parts of the country The rainfall recorded during the period was Punjab: Sialkot (Airport 04mm), Rawalpindi (Shamsabad 04, Chaklala 01), Murree 03 Kashmir: Muzaffarabad Airport and City 03 mm

T d y 12 S pt b 2023 KARACH NEWS 03
T H E F U T U R E O F PA K I S TA N ’ S E D I B L E O I L S M A R K E T
CONTINUED FROM PAGE 01 T H E S T R U C T U R E O F C R E D I T O F F E R I N G U N D E R M US AWA M A H Profit asked Lakhani to explain how Musawamah works, to which he said that Musawamah is an Islamic financing method for product-based transactions Lakhani told Profit that “Both the buyer and seller agree on the product and its price upfront which includes profit and expenses The buyer starts with an initial payment, often as a down payment and the remaining amount is paid through negotiable instalments offering flexibility ” He continued “The profit earned by the seller is not explicitly disclosed but included in the product s total price complying with Islamic finance principles When inquired whether the customers are aware of the instalment structure upfront or if the instalments are linked to any benchmark Lakhani explained that the instalment amounts and total sum are determined prior to agreement signing with no additional fees regardless of circumstances, including fluctuations in central bank rates How does this model differ from con-
BNPL offerings by other startups? This is a relatively new concept for those who are not familiar with Islamic financing, especially in a BNPL capacity Lakhani elaborated upon the main ways in which the Musawamah model of financing breaks away from conventional instalment models Firstly none of the other BNPL startups provide their services to the general public They all require a credit card or a
Lakhani explained According to the Financial Access and Behaviour of Individuals report by Karandaaz, financial inclusion stood at 30% of the total population of Pakistan in 2022 This means that only 30% of the 235 million people in the country had access to formal financial products and services Moreover the same report highlighted that only 13% of the population had access to digital financial tools in 2017 and the proportion of formal borrowers was
3 5% in 2021 Qist Bazaar ’s services aim to solve
ventional
bank account as a prerequisite for their financing services Qist Bazaar, on the other hand, caters to the unbanked and underserved population eliminating the need for cards or bank accounts
a mere
a
Hydri talking from an investor ’s point of view said that BNPL is really tricky and has suffered as a sector globally but there are a few players that are executing with caution At the end of the day, consumers buying power is eroding and they need convenient instalment plans to maintain or improve their lifestyle BNPL can provide one of those platforms if the markups are not predatory Hydri asserted He also highlighted that As far as Shariah compliant BNPL is concerned, it s just a need of the market that they re catering to, similar to Ijara, Sukuk and other instruments ” In an unrelated news the startup has also expanded its debt facility According to Lakhani the company has successfully closed off a debt facility with another bank (in addition to BAFL) under Shariah-compliant terms Moreover the company initiated a strategic funding round Lakhani disclosed that We initiated the funding round with a focus on raising modest amounts to complement our debt-based funding strategy Stocks through their Demo Day Fund 1, have chosen to invest in Qist Bazaar, joining others who are in the process of closing their investments ”
C I R C U M V E N T I N G B I G B R O T H E R It
I S T H E R E A M A R K E T F O R T H I S I F T H E Y P U L L T H I S O F F?

All while injustice blooms

AS Justice Bandiyal reaches the end of his tenure, a reckoning, of sorts, is but natural

Expect many think pieces in the papers and websites by talking heads on television and social media The piece you are reading right now is no exception

But a lot of that will focus on Justice Bandiyal and not enough about the institution that he heads True his own personal legacy as the chief justice could be taken apart and examined - he was almost laughably partial to one political party in particular - but such analysis often ignores the larger malaise that besets our institutions one larger in scope than any one person

Even in healthy democracies the sort we in our hapless republic seek to emulate there is always a tension between the judiciary and the executive Even between the judiciary and the legislature That is the way this particular cookie crumbles; nothing wrong with that But there is a point where the judiciary forgets itself and fashions itself as part of the ruling class While the backlog of cases keeps rising the judiciary famously involves itself in matters that do not concern it (at best) or are absolutely trivial (at worst ) Justice as a public good remains a distant dream but what is worse is the lack of accountability The press has to tread carefully when it comes to covering the proceedings of the court risking contempt notices Similarly the law ministry has not much of a way of looking into justice provision Whereas the law lords are brought in to appear for scrutiny and questioning in the House of Commons in the UK in our neck of the woods even such a thought expressed by a sitting government will lead to a crisis

The permanent establishment can smell opportunities and the consequence of such an unaccountable attitude has been for the judiciary’s own directives to be flouted openly as we can see during the current onslaught against the erstwhile ruling party Incarcerated politicians ordered to be released by the courts are picked up under other cases before the bail orders’ ink is even dry

There is need for introspection by all institutions the judiciary being no exception

Dedicated to the legac y of late Hameed Nizami

Nizami (Late)

PA K I S TA N is currently grappling with a severe economic crisis characterised by escalating electricity and fuel prices and a depreciating foreign exchange rate, resulting in widespread public discontent The public and business communities are vociferously protesting against the surging electricity bills which are anticipated to escalate further due to the persistent devaluation of the national currency and the elevated cost of imported fuel

This dire economic scenario has been exacerbated by a protracted impending sovereign default situation mainly stemming from the delay in the International Monetary Fund (IMF) review and the looming risk of non-completion of the IMF programme a concern that has persisted for the past several months

Despite the approval of a substantial standby arrangement (SBA) of US$ 3 billion in July 2023 the economic challenges afflicting the nation have not been alleviated Because the IMF assistance always comes with some conditionalities performance indicators and targets The conditions attached to the IMF assistance have, in many ways, exacerbated the situation, making it arduous for the current interim as well as the outgoing government to provide any form of financial relief or subsidies This situation necessitates a comprehensive re-evaluation of the economic policies and strategies

At the heart of Pakistan s economic woes lie critical blunders in the energy sector One pivotal fault was the Independent Power Producer (IPP) policy introduced in the 1990s and continued after that particularly the practice of fixed capacity payments to IPPs This approach has been detrimental contributing to an unsustainable energy mix heavily reliant on imported fossil fuels lead-

An intimately inter twined challeng e is the progressively weakening local currency, the Pakistani Rupee (PKR), against the US$, primarily due to a widening trade deficit and current account deficit

M y s t a n c e o n ev i l ey e i s m o r e s u b t l e t h a n t h a t – a s i t t u r n s o u t , mu c h m o r e s o fo r m a ny t o b e a b l e t o w r a p t h e i r h e a d s a ro u n d . I u n d e rs t a n d t h a t t h e w h o l e s u b j e c t o f ev i l ey e i s s u p p o s e d t o b e s h ro u d e d i n my s t e r y ; bu t o n e p o i n t o u g h t t o b e a s cl e a r a s d ay S a d ly, i t i s a ny t h i n g bu t , fo r w ay t o o m a ny p e o p l e ( fo r r e a s o n s b e s t k n ow n t o t h e m ) t h i n k o f ev i l ey e a s a r e l i g i o u s b e l i e f h a S a n a F Ta B S a e e D

EV I L E Y E , as the definitive explanation of a l l u n d e s i r a b l e o c c u r r e n c e s r e m a i n s f o r t h e m o s t p a r t a f e m i n i n e t h i n g C o n s equently young men who in their convers a t i o n s f a i l t o g i v e t h e p r o p e r a m o u n t o f respect to it often find themselves out of the good books of their mothers, aunts, grandmothers and, later, their wives That said, men are hardly what they used to be even as recently as thirty years ago; s o n o w t h e r e a r e m o r e t h a n a f e w o f t h a t g e n d e r who are quick to seize on the evil-eye excuse for all their failings and misfortunes I cannot speak on behalf of other doubters but I have invariably been misunderstood and unfairly judged on this front I am not denying that I have always been critical of the propensity to attribute any misfortune to evil eye; but that is by no means because I categorically rule it out I know way too much philosophy to commit the fallacy of proving the nonexistence of something My stance on evil eye is more subtle than that – as it turns out, much more so for many to be able t o w r a p t h e i r h e a d s a r o u n d I u n d e r s t a n d t h a t t h e w h o l e s u b j e c t o f e v i l e y e i s s u p p o s e d t o b e

shrouded in mystery; but one point ought to be as clear as day Sadly it is anything but for way too many people (for reasons best known to them) think o f e v i l e y e a s a r e l i g i o u s b e l i e f O v e r t h e y e a r s I have requested countless such enthusiasts to show h o w i t i s a r e l i g i o u s i s s u e ; e a c h t i m e m a n a g i n g merely to draw a blank So, while I cannot, and do not, rule evil eye out based on any theoretical argument (nobody can), it is my considered opinion that until we know more about it on a documented empirical basis (as opposed to the anecdotal type evidence that exclusively sustains it to date) evil eye sounds an awful lot like superstition to me As for superstition, I do not believe any reasonable man would like to go anywhere near it; not in a sober state, at any rate A s i g n i f i c a n t d e v e l o p m e n t i n t h e l i f e o f a human being happens when he graduates from ‘The drinking glass broke to I broke the drinking glass With this assumption of responsibility on his part h e t r a n s i t i o n s , i n m a n y w a y s , f r o m a c h i l d t o t h e f i r s t s t a g e s o f a d u l t h o o d ( S a d l y, s o m e a r e n e v e r able to make the transition ) It is true that it is not n e c e s s a r i l y s o m e b o d y ’s f a u l t t h a t c u l m i n a t e s i n shattered drinking glasses – often it is a stiff breeze a cat an unfortunate timing of things or sheer bad luck that it can be attributed to But almost all turns of events around us owe themselves to multiple factors; and a careful analysis of any of them invariably establishes that a number of things could quite conceivably have been done better (regardles s of the many factors that are out of human control): not placing the drinking glass too close to the edge of the table say in our example A man does himself no favour when he chooses to hide behind the evil-eye excuse for any calamity that befalls him Because by doing so he refuses to accept any part of the blame and thereby misses out on the opportunity to reconsider his own conduct, and to thereby try and prevent the same thing from repeating itself He can choose to take responsibility or else behave like a child The choice is his to make

Similarly a woman can take the easy option of blaming evil-eye to account for all her troubles (if she can resist the temptation of blaming her husband instead, that is) Or she can choose the much more difficult alternative of accepting at least part of the responsibility for her problems This latter option is uncomfortable for two reasons First the acceptance of even some of the blame – for few things have the

So, is evil eye real or merely a figment of popular imagination? Well, who knows! But until we know the answer one way or the other; and, more impor tantly, until we figure out its ÂmechanismÊ so that something could be done about it, there is hardly any use worr ying about it. Till that time , the prudent thing to do instead is to focus on what, within oneÊs powers, can be done to improve oneÊs lot; and if nothing answers to that description, then what must not be done to make oneÊs problems even worse .

Economic metamorphosis

ing to exponential growth in the circular debt

Another vexing issue pertains to the rampant line losses primarily due to electricity theft and a non-transparent tariff structure characterised by an array of additional taxes, charges, and levies

The underlying causes of these indirect taxes, both in electricity tariffs and fuel prices, can be attributed to Pakistan’s persistently low tax-to-GDP ratio and the failure of effective taxation reforms and implementation Pakistan s tax-to-GDP ratio standing at approximately 9 3 percent is starkly below the Asia and Pacific average of 19 8 percent and 17 7 percent for India

This glaring disparity highlights the need for substantial reforms in Pakistan’s taxation system to enhance revenue generation

An intimately intertwined challenge is the progressively weakening local currency the Pakistani Rupee (PKR) against the US$ primarily due to a widening trade deficit and current account deficit A significant reason for this predicament is Pakistan’s lop-sided reliance on consumption-led growth, manifested in a staggering “final consumption expenditure” constituting 96 24 percent of the GDP as per the World Bank s Development Indicators (WDI) This is markedly different from the prudent consumption patterns observed in countries such as China, India, and Bangladesh, where these percentages stand at 54, 71, and 74 percent, respectively

Similarly the stark contrast in gross domestic savings rates further highlights the gravity of the situation Pakistan s gross domestic savings rate is a mere 3 76 percent of GDP underscoring the lack of domestic resources available for investment in productive sectors This is a stark contrast to countries like China, India, and Bangladesh, where the rates are 46 percent, 29 percent and 26 percent respectively Consequently Pakistan s gross capital formation or investment as a percentage of GDP remains alarmingly low at around 15 percent Unfortunately, only 3 76 percent of this is financed by domestic savings, necessitating substantial inflows of foreign capital, which in turn lead to escalating debt levels and currency depreciation

In light of these pressing challenges a profound economic transformation i e a complete

economic metamorphosis is imperative to enhance both gross domestic savings and the taxto-GDP ratio This transformation entails a multifaceted approach that encompasses various measures including tax reforms strengthening of the energy sector reduction of line losses promotion of a diversified energy mix and a strategic shift from consumption-led to investment-led growth

To increase the tax-to-GDP ratio, governments can broaden the tax base by including more sources of income and wealth in the tax system They can also increase tax rates but be careful not to do so too much as it can harm economic growth Additionally governments can improve tax administration by strengthening the tax collection agency, simplifying the tax code, and reducing corruption Finally, they can reduce tax exemptions and deductions that allow some people and businesses to avoid paying taxes Making it easier for businesses to pay taxes by providing electronic filing and payment options and by simplifying the tax laws can also be helpful Likewise, to increase gross domestic savings and reduce reliance on a consumption-led economy, the government can promote financial literacy and a savings culture, increase access to credit provide tax breaks for savings and investment and create an enabling economic environment In addition to the above measures governments can also consider banning the use of big, oil-gulping vehicles, such as large SUVs and luxury mini trucks These vehicles are typically less fuel-efficient than smaller cars and can contribute to air pollution Banning these vehicles would help reduce fuel consumption and improve the balance of payment position

Economic transformation is a massive task that requires reframing the economic foundation through long-term planning and political commitment However, immediate actions such as energy sector reforms, broadening the tax base and tax-to-GDP ratios and increasing the domestic resource base through increased domestic savings and conservation measures can be the preliminary steps in the right direction

Dr Ghulam Mohey-ud-din is Director Economic Affairs at the Centre for Aerospace & Security Studies (CASS) Lahore Pakistan

He can be reached at info@casslhr com

capacity to hurt the ego more than to accept that one was found wanting; and second, the obligation to correct her future course of action In comparison, the former option is infinitely more attractive as it allows her to go on her merry way Broadly speaking an undesirable thing that befalls an individual can have one or a combination of three explanations: One: It could be a test which depending on how he performs under that pressure, ends up making a stronger, better human being out of him (in other words, the crisis is an opportunity in disguise) Two: It could be the consequence of foolish choices made by him in the immediate or distant past Three: It could be a result of factors that are out of his control: wars in the world political turmoil, the in-laws, stock exchange meltdowns, evil machinations of enemies, and the like Evil eye (provided there is such a thing) would also belong to this last category While one can never say with certainty which explanation (or which combination and with what weightage of each) accounts for a particular calamity it certainly needs no Einstein to conclude that instead of blaming real or imaginary factors that are out of his control, a man should focus on things he can do something about Blaming other people and inanimate objects is extremely counterproductive because it always makes matters worse by making him bitter

So is evil eye real or merely a figment of popular imagination? Well who knows! But until we know the answer one way or the other; and, more importantly, until we figure out its mechanism so that something could be done about it, there is hardly any use worrying about it Till that time, the prudent thing to do instead is to focus on what within one’s powers can be done to improve one s lot; and if nothing answers to that description then what must not be done to make one s problems even worse

The author is a connoisseur of music, literature, and food (but not drinks) He can be reached at www facebook com/hasanaftabsaeed

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

A tale of struggle

Recently, I came across an ice cream vendor who looked familiar When I took a closer look, I realised that it was a high school fellow who was very talented in studies I asked him how he ended up here and he informed me that his family could not afford his higher education after matriculation His father a shopkeeper earned an average income but the COVID pandemic and record-level inflation have severely affected their financial situation Therefore he was compelled to sacrifice his education to support his family During this conversation, I recalled some of his educational achievements and his active participation in extracurriculars Unfortunately, there are millions of competent and talented individuals suffering from a similar fate Many socioeconomic issues have contributed to the problem The government must take comprehensive measures to make education more accessible and affordable as well as create employment opportunities to reduce poverty UBAID SAHIL SWAT

Family planning

FA M I LY planning is a pressing concern in Pakistan with far-reaching consequences for public health socio-economic development and women s empowerment To address this issue effectively I propose several strategies that can be adopted by the government 1) Engage religious and community leaders to promote positive attitudes towards family planning 2) Launch mass media campaigns through television, radio and social media to raise awareness about the significance of family planning 3) Promote women’s education and empowerment as key factors linked to the acceptance of family planning 4) Involve men as active partners in family planning programmes By encouraging men s involvement through educational campaigns and counseling sessions traditional gender norms can be challenged and shared decision-making within families can be promoted 5) Develop and enforce supportive policies that prioritise family planning as a crucial public health and development issue Adequate resources and funding should be allocated to ensure the availability of quality family planning services at all levels of the healthcare system Addressing the lack of family planning in Pakistan requires a comprehensive approach through education access awareness empowerment, and policy support By implementing these strategies, Pakistan can work towards achieving its goals of population control ALI KHAN KARACHI

Suppor ting Women

THE National Commission on the Status of Women (NCSW) recently claimed to have taken a significant step to tackle gender-based violence by signing a memorandum of understanding (MoU) The MoU emphasises the inclusion and mainstreaming of women with disabilities in their efforts NCSW joined hands with STEP and other organisations such as the United Nations Population Fund to develop a strategy to address violence against women Besides assisting women in getting out of life-threatening situations NCSW should also extend their support to the children of these women by housing them in safe environments In the past, many such efforts have been undertaken but they have borne little fruit Some have accused different organisations of misuse and management of funds and resources Therefore, the relevant government departments should ensure that the resources are used appropriately and monitor the progress of new initiatives In addition women s access to education and healthcare should be enhanced through tailored initiatives to further empower them and allow them to have more agency over their choices Investments in women s education and healthcare can have a more positive impact and benefit society at large SHAHRYAR KHAN

04 Tuesday 12 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
Arif
Founding Editor M A Niazi Joint Editor Umar Aziz Executive Editor
PESHAWAR
E v i l e y e
I s i t re a l ? A J u s t i c e l e a v e s , a n o t h e r a r r i v e s R e f r a m i n g t h e f o u n d at i o n s
Dr Ghulam mohey-uD-Din

IN the era marked by the boundless influence of AI, Pakistan should not only embrace AI technology but also take insights from the notebooks of nations with well-established AI regulations This will help Pakistan enhance its own regulatory framework to ensure an ethically sound and prosperous future of AI Extracting storing and exchanging of vast variety of data through automated machines, increasing productivity through Machine Learning and Natural Language Processing techniques, and generating writeups, speeches, and images through AI chatbots- this is all that AI offers us today From defense to education every global industry is subject to the technological revolution of Artificial Intelligence (AI) termed as Fourth Industrial Revolution Pakistan is considered to have substantial employable human capital in the form of 64% of its young population under their 30s Such a large youth population, on the other hand, raises the government’s responsibility to upskill them to compete with the changing job requirements In May 2023 after years of moderate efforts Pakistan s Ministry of IT and Telecom introduced a draft of the country s first-ever National AI Policy under the Digital Pakistan Vision of 2019 This

a k i s t a n ’ s A I g o v e r n a n c e

policy issues a roadmap for creating an enabling, responsible and regulatory environment for the fast adaptation of Artificial Intelligence across the country to harness its economic and societal benefits

Rapid technological change also comes with some potential cons as does AI Advanced computer systems with Artificial Intelligence are generally believed to be capable of carrying out activities that typically require human intelligence such as understanding and translating speech recognizing visuals and decision-making In May 2023 hundreds of well-known tech giants issued a collective warning that AI can pose an existential threat to humanity while urging the need to mitigate the risk of extinction from AI These cautions seem to be hypothetical but cannot be neglected as they have already been validated through a metaphorical Doomsday Clock which now stands very close to a global catastrophe According to the Doomsday Clock 2023 Report by the Bulletin of Atomic Scientists the significant risks posed by Artificial Intelligence and disruptive technologies stand on par with threats of nuclear war and climate change The likelihood of AI augmenting the spread of misinformation, job displacement, inherent discrimination and biases, and the risk of misuse of personal data all have driven governments around the world to regulate AI

Several states have developed comprehensive federal legislation for regulating AI such as the EU Singapore and United Kingdom Those without any dedicated regulatory policy have published guidelines and policy papers depicting their future moves toward AI regulation such as China, the United States, Japan, Australia, Brazil, and Pakistan is no exception One of the key pillars of Pakistan’s National AI policy aims to create an enabling and trusted environment through a hybrid intelligence ecosystem appreciating human ingenuity along with AI s creative capabilities The establishment of the AI Regulatory Directorate (ARD) by 2024 lies at the heart of Pakistan’s National AI regulatory policy The development of the AI Regulatory Directorate (ARD) is directed towards harmonizing AI advancements with human values and societal needs The key responsibilities of ARD include monitoring AI developments undermining personal data protection regulating AI-based innovations

A m i d r a p i d A I a dva n c e m e n t s , Pa k i s t a n Ês N a t i o n a l A I Po l i c y a n d t h e e s t a b l i s h m e n t o f a n A I R e g u l a t o r y D i r e c t o r a t e p rov i d e a p ro a c t i v e a p p ro a c h t o b e n e f i t f ro m t r a n s fo r m a t i v e A I t e c h n o l o g i e s m i t i g a t i n g t h e i r p o t e n t i a l h a r m s . H ow ev e r, i t i s i ro n i c t h a t t h e a fo r e m e n t i o n e d r e g u l a t o r y d i r e c t o r a t e i s s u b j e c t t o f u n c t i o n u n d e r t h e N a t i o n a l C o m m i s s i o n fo r Pe rs o n a l D a t a P ro t e c t i o n ( N C P D P ) w h i c h i s y e t t o b e e s t a b l i s h e d a s i t s p a r e n t a c t n a m e d a s Pe rs o n a l D a t a P ro t e c t i o n A c t ( P D PA ) i s s t i l l p e n d i n g t o g e t i t s a p p rova l i n Pa r l i a m e n t .

formulating data sharing frameworks and ensuring alignment of AI algorithms with cultural societal religious, and international norms and guidelines Of paramount significance is that this regulatory body will facilitate the establishment of Non-Disclosure Agreements (NDAs) for data collection and application access safeguarding personal data and ensuring digital privacy

Generative AI tools employed for human-like images texts and speeches can augment the possible spread of disinformation fake news and breaches of personal data privacy The foregoing governing body is poised to counter disinformation and privacy breaches: firstly, by issuing regulatory guidelines for the ethical use of generative AI; secondly by promoting indigenous research in collaboration with the OpenAI platform; and thirdly by coacting with the Higher Education Commission to mitigate the unethical use of generative AI in academia

Furthermore, the regulatory policy aims to provide a sandboxing environment to carry out controlled trials of AI innovative technologies in a real-world scenario with actual users The sandboxing technique will not only help regulators to identify the risks of AI technology before it enters the market but will also guide in the development of comprehensive guidelines and adaptable legislation to regulate those machines The ARD seeks a synergetic engagement with all the stakeholders such as technocrats, industry experts, and think tanks to strategize AI adaptation and regulation

As Pakistan’s National AI Policy embraces international collaboration in adapting innovative AI technologies from developed countries it must also adopt optimal regulatory policies of those nations EU s AI Act of 2023 under the General Data Protection Regulation (GDPR) is likely to become a standard regulatory legislation with other states expected to follow suit EU’s AI Act directs organizations to assign a risk category to every AI technology based on their potential risk to consumers Prior to the deployment innovators are mandated to conduct risk assessments and cost-benefit analysis of their innovations The designated Unacceptable AI Risk Systems such as facial recognition in pub-

Rise and rise in oil prices and its impact

Analysts and market par ticipants expec t oil prices to firm up fur ther, with some even talking about the possibilit y of Brent hitting $100 a barrel

INDIAN EXPRESS S u k a l p S h a r m a

CR U D E oil prices, which have been firming up for the past few weeks on expectations of high demand and tightening supply are at a nearly 10-month high

On Tuesday, global benchmark Brent crude breached the $90-per-barrel mark for the first time in 2023 and continues to hover around that level The latest uptick came after major oil producers Saudi Arabia and Russia surprised the world by announcing an extension of their voluntary supply cuts totalling 1 3 million barrels per day (bpd) till the end of 2023 While markets had anticipated that the two countries would extend the cuts to October and had more or less factored that in the extension till December was a bit of a surprise The two oil-rich countries are leading the cartel of major oil producing nations in efforts to prop up crude oil prices by reducing supply

Analysts and market participants expect oil prices to firm up further with some even talking about the possibility of Brent hitting $100 a barrel over concerns of a possible supply deficit during the high winter demand season and indications that major oil producers could consider deeper production cuts going ahead High oil prices could add to inflationary pressures and spell bad news for the fragile global economy and numerous countries that have been grappling with high inflation India s economy, too, is sensitive to oil price volatility, given the country’s extremely high import dependency Apart from inflationary pressures high oil prices could have implications for India s trade balance foreign exchange reserves, the rupee, and the overall health of the economy

Oil prices have been volatile for some time now, but the general direction over the past couple of months has been upward Brent has appreciated nearly 25 per cent since mid-June due to a combination of some inter-dependent factors, which include production cuts by major oil producing countries, signs of improved macroeconomic conditions and easing of inflation in major oil consumers like the US and global oil demand touching record highs with expectations of further demand expansion Deepening OPEC+ supply cuts have collided with improved macroeconomic sentiment and all-time high world oil demand ” Paris-based International Energy Agency had said in Au-

oil demand to grow

to 102 2 million bpd for 2023 the highest-ever for a full year While some of the economic signals from China the world s largest oil importer have been rather weak, which could weigh on oil demand, the country s current oil demand is strong on the back of increasing petrochemical production

In June Saudi Arabia announced that it would voluntarily cut its oil output by 1 million (bpd) starting July over and above OPEC+ cuts totalling 3 66 million bpd, which shall be in place till the end of 2024 Then in July, Russia announced additional production cuts starting August OPEC+ is a larger group of major oil producing nations and includes members of the Organization of the Petroleum Exporting Countries (OPEC), along with Russia and a few other producers OPEC+ produces around 40 per cent of the world’s crude oil with Saudi Arabia as the top producer and Russia in the second spot

On Tuesday in what appeared to be coordinated statements coming from Riyadh and Moscow, the two countries sprung a surprise by extending their additional voluntary production cuts 1 million bpd by Saudi Arabia and 300 000 bpd by Russia until the end of the year The message is clear: major oil producers are willing to push the limits to support oil prices for as long as possible

So, with oil inventories set to fall f u r t h e r o v e r t h e c o m i n g m o n t h s , w e e x p e c t B r e n t t o r i s e t o $ 9 5 / b b l b y year-end ” Zurich-based financial services major UBS said in a note Some analysts have even expressed the possibility of Brent breaching the $100per-barrel mark if the supply deficit is maintained amid high demand

The IEA, however, expects oil demand to contract sharply in 2024 due to expectations of a subdued macroeconomic environment post-pandemic economic recovery being largely completed, and increasing adoption of electric vehicles OPEC, on the other hand, expects oil demand to only rise next year In either scenario the major oil producers believe they are in a position to influence and support prices through coordinated regulation of production There are, of course, limits to the extent major oil producers can go to in order to pump up prices by pumping less oil High oil prices on a sustained basis could feed into inflation globally jeopardise global economic recovery and lead to destruction in oil demand from major consumers High oil prices also incentivise faster transition to cleaner fuels, particularly in the mobility sector Also for countries dependent on

oil for revenues, keeping prices artificially high just to see demand crash will not be desirable There have been instances of differences within OPEC and OPEC+ on production cuts In 2021 there was a rather public disagreement between long-time allies and oil heavyweights Saudi Arabia and the United Arab Emirates over extending production cuts T h e r e i s a l s o s p e c u l a t i o n t h a t m a j o r o i l c o n s u m e r s c o u l d i n t e n s i f y e ff o r t s t o b r i n g o i l f r o m s a n c t i o n e d suppliers like Iran and Venezuela back i n t o t h e m a r k e t A f e w i n t e r n a t i o n a l media reports have suggested that the US has held back-channel talks with Iran, while Venezuela is reportedly in talks with China India depends on imports to meet around 87 per cent of its requirement of crude oil which means that high oil prices can cause a big headache for the economy High oil prices negatively impact India s trade balance and are a drain on the country’s valuable foreign exchange reserves which also has a bearing on the value of the rupee As with other major importers of oil a surge in oil prices adds to inflationary pressures for India as well High oil prices can also potentially hit profitability of key sectors with high energy costs All of these implications could have a negative impact on economic growth as high inflation and low profitability in various sectors would hit disposable incomes and discretionary spending If crude oil prices continue to remain elevated or rise even further, they could deliver a fresh blow to the hope of a return to market-linked pricing of transportation fuels petrol and diesel

Prices of the two fuels have not been revised by public sector oil marketing companies (OMCs) Indian Oil Corporation (IOC), Bharat Petroleum corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) since early April of 2022

To shield the consumers and sections of the economy from extreme price volatility in energy markets following Russia s invasion of Ukraine, the three companies did not hike fuel prices and suffered heavy losses in the first half of 2022-23 (FY23) There were indications from the government and the OMCs that they could revert to daily price revisions soon as most of their last year s accumulated losses had been recouped Till a few weeks ago, there was anticipation that petrol and diesel prices could soon see a cut However with the current spurt in the price of crude the raw material of petroleum fuels a price cut may be financially unviable for the companies Even if they do go ahead and slash petrol and diesel prices at the government’s behest they could incur losses and even require financial support from the government

lic places and social scoring are prohibited from being used in the EU s domain as they menace fundamental human rights However, those with High-Risk classification such as tools used in job recruitment and the health sector are subject to registration and pre-implementation compliance evaluation Singapore is among the forerunners in the timely development of its Advisory Council on Ethical Use of AI Data in 2018 which published its National Artificial Intelligence Strategy in 2019 These laws mandate the organizations to disclose all AI-adopted methodologies to their users and prevent them from using personal data for the creation of avatars or personas China offers the most compelling regulatory framework named Administration of Deep Synthesis of Internet-based Information Services with a strong focus on penalizing synthetically generated content and deep fakes either images or videos and targeting AI Chatbots (OpenAI s ChatGPT) These regulations obligate the proper labeling of AI-generated content to avoid deception Amid rapid AI advancements, Pakistan’s National AI Policy and the establishment of an AI Regulatory Directorate provide a proactive approach to benefit from transformative AI technologies mitigating their potential harms However it is ironic that the aforementioned regulatory directorate is subject to function under the National Commission for Personal Data Protection (NCPDP) which is yet to be established as its parent act named as Personal Data Protection Act (PDPA) is still pending to get its approval in Parliament This raises a strong question of whether the timelines proposed in the policy document would be achievable or not Pakistan must accelerate its efforts to regulate rapidly transforming AI tools to harness their potential benefits while protecting the fundamental rights of its citizens Last but not least it must keep its doors open to consultation and collaboration with states having existing optimal legal frameworks for AI regulation such as the EU China Singapore and many more

The writer is a freelance columnist

RE C E N T LY Google celebrated its 25th birthday With billions of search queries submitted each day it s difficult to remember how we ever lived without the search engine What was it about Google that led it to revolutionise information access? And will artificial intelligence (AI) make it obsolete or enhance it?

Let s look at how our access to information has changed through the decades – and where it might lead as advanced AI and Google Search become increasingly entwined

1950S: PUBLIC LIBRARIES AS COMMU-

NITY HUBS: In the years following the second world war it became generally accepted that a successful post-war city was one that could provide civic capabilities – and that included open access to information So in the 1950s information in Western countries was primarily provided by local libraries Librarians themselves were a kind of human search engine” They answered phone queries from businesses and responded to letters – helping people find information quickly and accurately Libraries were more than just a place to borrow books They were where parents went to look for health information where tourists requested travel tips, and where businesses sought marketing advice The searching was free, but required librarians’ support, as well as a significant amount of labour and catalogue-driven processes Questions we can now solve in minutes took hours days or even weeks to answer 1990S: THE RISE OF PAID SEARCH SERVICES: By the 1990s, libraries had expanded to include personal computers and online access to information services Commercial search companies thrived as libraries could access information through expensive subscription services These systems were so complex that only trained specialists could search with consumers paying for results Dialog developed at Lockheed Martin in the 1960s, remains one of the best examples Today it claims to provide its customers access “to over 1 7 billion records across more than 140 databases of peer-reviewed literature” Another commercial search system The Financial Times’ FT PROFILE enabled access to articles in every UK broadsheet newspaper over a five-year period But searching with it wasn t simple Users had to remember typed commands to select a collection, using specific words to reduce the list of documents returned Articles were ordered by date, leaving the reader to scan for the most relevant items FT PROFILE made valuable information rapidly accessible to people outside business circles but at a high price In the 1990s access cost £1 60 a minute – the equivalent of £4 65 (or A$9 00) today

THE RISE OF GOOGLE: Following the world wide web’s launch in 1993, the number of websites grew exponentially Libraries provided public web access and services such as the State Library of Victoria s Vicnet offered low-cost access for organisations Librarians taught users to find information online and build websites However, the complex search systems struggled with exploding volumes of content and high numbers of new users In 1994, the book Managing Gigabytes, penned by three New Zealand computer scientists

presented solutions for this problem

Since the 1950s researchers had imagined a search engine that was fast, accessible to all, and which sorted documents by relevance

In the 1990s a Silicon Valley startup began to apply this knowledge – Larry Page and Sergey Brin used the principles in Managing Gigabytes to design Google s iconic architecture

After launching on September 4 1998, the Google revolution was in motion People loved the simplicity of the search box, as well as a novel presentation of results that summarised how the retrieved pages matched the query In terms of functionality Google Search was effective for a few reasons It used the innovative approach of delivering results by counting web links in a page (a process called PageRank) But more importantly, its algorithm was very sophisticated; it not only matched search queries with the text within a page but also with other text linking to that page (this was called anchor text) Google s popularity quickly surpassed competitors such as AltaVista and Yahoo Search With more than 85% of the market share today, it remains the most popular search engine As the web expanded, however, access costs were contested Although consumers now search Google for free payment is required to download certain articles and books Many consumers still rely on libraries – while libraries themselves struggle with the rising costs of purchasing material to provide to the public for free

WHAT WILL THE NEXT 25 YEARS

BRING? Google has expanded far beyond Search Gmail, Google Drive, Google Calendar, Pixel devices and other services show Google’s reach is vast With the introduction of AI tools including Google s Bard and the recently announced Gemini (a direct competitor to ChatGPT) Google is set to revolutionise search once again

As Google continues to roll generative AI capabilities into Search, it will become common to read a quick information summary at the top of the results page rather than dig for information yourself

A key challenge will be ensuring people don t become complacent to the point that they blindly trust the generated outputs

Fact-checking against original sources will remain as important as ever After all, we have seen generative AI tools such as ChatGPT make headlines due to “hallucinations” and misinformation

If inaccurate or incomplete search summaries aren t revised or are further paraphrased and presented without source material the misinformation problem will only get worse Moreover, even if AI tools revolutionise search, they may fail to revolutionise access As the AI industry grows, we’re seeing a shift towards content only being accessible for a fee or through paid subscriptions

The rise of AI provides an opportunity to revisit the tensions between public access and increasingly powerful commercial entities

Mark Sanderson is Professor of Information Retrieval RMIT University Julian Thomas is Distinguished Professor of Media and Communications; Director ARC Centre of Excellence for Automated Decision-Making and Society RMIT University Kieran Hegarty is Research Fellow (Automated Decision-Making Systems), RMIT University

Tuesday 12 September 2023
O p t i m
05 malik ahmeD raFay
i z i n g P
COMMENT
No time to waste
gust IEA estimates
CONVERSATION m a r k S a n D e r S o n J u l a n T h o m a S k i e r a n h e G a r T y a n D l i S a m G i v e n
Lisa M Given is Professor of Information Sciences & Director, Social Change Enabling Impact Platform RMIT University
Google revolutionised how we access information, but will it sur vive AI?

ISRAELI DELEGATION MAKES FIRST OPEN VISIT TO SAUDI ARABIA

RIYADH

A F P

AN Israeli delegation attended a Unesco meeting in Riyadh on Monday marking the country’s first publicly announced visit to Saudi Arabia as speculation grows about a potential normalisation of ties

The five-member delegation arrived on Sunday, an Israeli official told AFP, for the meeting to update Unesco’s world heritage list of cultural and historic sites

We are happy to be here it s a good first step said the official who did not want to be named given the sensitivities of the visit, during the meeting

We thank Unesco and the Saudi authorities ” The team travelled through Dubai the official said as there are no direct flights between Israel and Saudi Arabia and arrived on Sunday

They received their visas via Unesco, the United Nations educational, scientific and cultural organisation

The delegation, including a security official, joined the Unesco meeting on Monday sitting behind a sign that said Israel on the front of their desk

The visit has been very good they treat us very well the official said

The Israel sign drew stares from

Saudis working at the meeting, where more than 50 sites are contenders to join the coveted world heritage list

That is God s command The issue is bigger than us and we can t object to it, said a young Saudi man working among the support services, when asked about the Israeli delegation ‘Obstacles’ remain A Unesco diplomat said the agency’s director-general Audrey Azoulay had been instrumental in securing Israel s participation in Riyadh

It s the result of several years of work by Audrey Azoulay to create, in the heart of Unesco, the conditions for a di-

Modi hails Saudi ties after ‘historic’ route unveiled

NEW DELHI

A F P

India hailed its “strategic” partnership with oil-rich Saudi Arabia on Monday days after unveiling a major trade and transport route linking Europe the Middle East and India as part of a broad alliance Together we made the historic start to establish an economic corridor, Indian Prime Minister Narendra Modi told Saudi Arabia s de facto ruler Crown Prince Mohammed bin Salman in New Delhi On Saturday, the pair took part alongside other G20 leaders in the unveiling of ambitious plans to create a modern-day Spice Route boosting trade ties with potentially wide-ranging geopolitical implications This corridor will not only connect the two countries but economic cooperation digital connectivity between Asia, West Asia and Europe, Modi added, in talks following the end of the two-day Group of 20 leaders’ summit he hosted India and Saudi Arabia along with the United States the European Union the United Arab Emirates and others launched the initiative to link railways ports electricity and data networks and hydrogen pipelines Although heavily trade-focused, the scheme could have wide-ranging implications including developing contacts between long-time foes Israel and Saudi Arabia Also on Monday an Israeli delegation was in Riyadh for a UNESCO meeting an Israeli official told AFP marking the country s first publicly announced visit to Saudi Arabia Saudi Arabia has never officially recognised Israel US President Joe Biden called the trade and transport scheme historic at the launch event European Commission President Ursula von der Leyen said the so-called India–Middle East–Europe economic corridor was “much more than just a railway or a cable Signatories hope it can help integrate India s vast market of 1 4 billion people with countries to the west offer a counterbalance to lavish Chinese infrastructure spending, boost Middle Eastern economies and help normalise relations between Israel and Gulf Arab states

alogue between all the states of the region ” said the diplomat who did not want to be named While the visit does not have any overt political significance it comes at a time of growing rumours of moves to bring the two countries closer

According to reports, a Palestinian delegation visited Riyadh last week to discuss the way forward if Saudi Arabia and Israel were to formalise relations Saudi Arabia which contains two of Islam s holiest sites does not recognise Israel and did not join the 2020 US-brokered Abraham Accords where Israel established ties with Gulf countries the United Arab Emirates and Bahrain

Saudi Arabia, which is trying to reshape and revitalise its oil-reliant economy has made a number of landmark diplomatic moves in recent months including a surprise rapprochement with Iran years after the two heavyweights severed ties

The fact that the visit was coordinated by Unesco suggests “obstacles” remain to Saudi-Israeli normalisation said Aziz Alghashian a Saudi analyst and expert on the bilateral relationship

This is most likely a result of Saudi Arabia being more open to the world, which will include Israelis, not a result of bilateral relations between Saudi Arabia and Israel ” Alghashian said Saudi officials have realised they cannot ban anyone if they want to transform the kingdom into a global business and tourism hub under Crown Prince Mohammed bin Salman s Vision 2030 reform agenda, Alghashian said “The Israelis will definitely milk this as the first step when actually it was facilitated by Unesco It s not really because of their diplomatic skill or diplomatic victories

He compared the Israeli delegation s visit to a visit this summer by Israeli eSports players for the Gamers8 festival, which also required “third-party coordination” by global tournament organisers

Resc uers race to find sur vivors over 48 hours af ter Morocco quake

MARRAKECH

A G E N C I E S

Rescuers raced against time on Monday to find survivors in the rubble more than 48 hours after Morocco s deadliest earthquake in more than six decades, with more than 2,100 killed in a disaster that devastated villages in the High Atlas Mountains Search teams from Spain and Britain are joining efforts to find survivors of the 6 8 magnitude quake that struck late on Friday night 72 km (45 miles) southwest of Marrakech

Many survivors spent a third night outside, their homes destroyed or rendered unsafe by Morocco’s most powerful earthquake since at least 1900 The death toll climbed to 2 122 with 2 421 people injured, state TV reported late on Sunday

In the village of Tafeghaghte, Hamid ben Henna described how his eight-year-old son died under the rubble after he had gone to

fetch a knife from the kitchen as the family were having their evening meal The rest of the family survived People have been salvaging possessions from the ruins of their homes and describing desperate scenes as they dug with their bare hands to find relatives

The damage done to Morocco s cultural heritage has been emerging gradually Buildings in Marrakech old city, a World Heritage Site, were damaged The quake also reportedly

China gathers global wisdom in water governance at World Water Congress

While the Japanese government is determined to threaten the global marine ecology by dumping its nuclear-contaminated water into the ocean China is consolidating international consensus on scientific water management via the ongoing 18th World Water Congress in Beijing to help more people in other countries access safe water resources

At the congress opened on Monday, global representatives called for common ground on solutions on water problems and also said they expect China to contribute more experience and wisdom in addressing water issues to meet unprecedented ubiquitous challenges

China, with only 6 percent of the world s freshwater resources but ensuring water supply for nearly 20 percent of the global population, has made significant progress in achieving the water-related goals of the UN’s 2030 Agenda for Sustainable Development

China is open to share its water management wisdom and solutions during the week-long conference and work together with countries around the world to address the challenges brought by aggravated global climate change

Due to the extremely uneven distribution of water resources and frequent water and drought disasters

China is a country with one of the most complex water situations and the greatest difficulty in river management in the world However the past decades have witnessed a great improvement in China s flood control systems and smart infrastructure, said Vice Minister of Water Resources Liu Weiping at a press conference before the congress

Take the Mekong River basin as an example

Researchers have found out that well-operated reservoirs run by China in the upper Mekong River also known as the Lancang River which store water in wet seasons and release water in dry seasons, helped with drought relief in the basin as a whole

did major damage to the historically significant 12th-century Tinmel Mosque in a remote mountain area closer to the epicentre Survivors struggling to find shelter and supplies have voiced criticism of what they have described as an initially slow government response Morocco has deployed the army as part of its response and has said it is reinforcing search-and-rescue teams, providing drinking water and distributing food, tents and blankets

China urges U.S. to respec t Asian countries ’ shared aspiration in developing ties

China on Monday urged the U S to respect regional countries shared aspiration for seeking stability, cooperation and development when handling its relations with Asian countries

The remarks were made by Chinese Foreign Ministry spokesperson Mao Ning at a regular press briefing in response to a query that the U S and Vietnam have upgraded their diplomatic ties and signed deals on semiconductors and minerals

The decisions were made after U S President Joe Biden visited Vietnam and held talks with Nguyen Phu Trong, general secretary of the Communist Party of Vietnam Central Committee according to media reports Vietnam has stressed on multiple occasions that

growing the China-Vietnam comprehensive strategic cooperative partnership is its diplomatic priority and a top priority in the country’s foreign affairs, said Mao China’s view is that developing bilateral relations should not target a third party or harm regional peace stability development and prosperity Mao noted She asked the U S to abide by basic norms governing international relations and discard the hegemonic and Cold War mentality when dealing with relations with Asian countries Mao Ning said that the Taiwan question is a matter of China’s internal affairs, while resolving it is the responsibility of the Chinese people and should be decided by them without any external interference During the Foreign Ministry s briefing the Chinese official refuted US President Joe Biden s view that China now faces economic challenges to keep it from invading the Taiwan region

Additionally, since 2020, China has been sharing hydrological information about the upper Mekong River with downstream countries year-round More according to media reports China leads the world in having the most international wetland cities being home to 13 among all 43 cities globally With 4 percent of the world s wetlands, China meets the ecological, production, living and cultural needs of one-fifth of the world’s population

Liu introduced at the congress on Monday that with the rapid growth of the world population and economic and social development coupled with the intensified global climate change the world is facing more severe common water security issues Around 10 percent of the global population lives in countries with high or severe water shortages, while 26 percent of the population unable to access safe drinking water Today we are holding the congress to deepen international exchanges share water management experiences and achievements and systematically solve prominent water security issues worldwide, said Liu International Scientific Committee’s Co-Chairs Renée Martin-Nagle and Shi Qiuchi said at the congress that they encourage and expect more interdisciplinary communication more scientific and technical dialogues and more meaningful consensus and collaborations during the week

We hope that our guests will take this opportunity to learn more about Chinese history, culture and experiences in water management ”

This is the first time that the World Water Congress has been held in China The congress takes the theme Water for all: Harmony between humans and nature and has six sub-themes focusing on the nexus between water resources, population, economy, and ecology It also seeks to promote sustainable and intelligent water infrastructure development The congress will release the important outcome document the “Beijing Declaration ” presenting and sharing the congress consensus and initiatives including China s successful experiences with the world

Iran, US on verge of prisoner swap under Qatar-mediated deal

DUBAI/DOHA A G E N C I E S

When $6 billion of unfrozen Iranian funds are wired to banks in Qatar as early as next week, it will trigger a carefully choreographed sequence that will see as many as five detained US dual nationals leave Iran and a similar number of Iranian prisoners held in the US fly home according to eight Iranian and other sources familiar with the negotiations who spoke to Reuters

As a first step, Iran on Aug 10 released four US citizens from Tehran’s Evin prison into house arrest, where they joined a fifth, who was already under house arrest Later that day US Secretary of State Antony

Blinken called the move the first step of a process that would lead to their return home

They include businessmen Siamak Namazi, 51, and Emad Sharqi, 59, as well as environmentalist Morad Tahbaz, 67, who also holds British nationality the US administration has said The Tahbaz and Shargi families did not respond to requests for comment A lawyer for the Namazi family declined to comment The identities of the fourth and fifth Americans, one of whom according to two sources is a woman, have not been disclosed Reuters couldn’t establish which Iranian prisoners in turn would be swapped by the US Iran said on Monday it was optimistic the

prisoner swap with Washington would happen in the near future At the centre of the negotiations that forged this deal between the superpower which Iran brands the “Great Satan” and the Islamic Republic which Washington calls a state sponsor of terrorism is the tiny but hugely rich state of Qatar

Doha hosted at least eight rounds of talks involving Iranian and US negotiators sitting in separate hotels speaking via shuttle diplomacy, a source briefed on the discussions said with the earlier sessions focused mainly on the thorny nuclear issue and the later ones on the prisoner releases

Doha will implement a financial arrangement under which it will pay banking fees and monitor how Iran spends the unfrozen cash to ensure no money is spent on items under US sanctions and the prisoners will transit Qatar when they are swapped according to three of the sources Iran initially wanted direct access to the funds but in the end agreed to having access via Qatar said a senior diplomat Iran will purchase food and medicine and Qatar will pay directly ” Reuters pieced together this account of previously unreported details about the extent of Qatari mediation of the secret talks how the deal unfolded and the expediency that motivated both parties to clinch the prisoner swap deal Reuters interviewed four Iranian officials, two US sources, a senior Western diplomat, a Gulf government adviser and the

person familiar with the negotiations

All of the sources requested anonymity because of the sensitivity of a deal which hasn’t been fully implemented

A State Department spokesperson said the US was not ready to announce the exact timing of the prisoner release The Department also declined to discuss the details of what the spokesperson termed an ongoing and highly sensitive negotiation

Y O U C A N B U I L D T R U S T: The US administration has not commented on the timing of the funds transfer However on Sept 5 South Korean foreign minister Park Jin said efforts were under way to transfer Iran s funds

The US-Iran relationship is not one characterized by trust We judge Iran by its actions, nothing else,” the State Department spokesperson added Washington consented to the movement of Iranian funds from South Korea to restricted accounts held by financial institutions in Qatar but no money is going to Iran directly, the spokesperson added Qatar ’s Ministry of Foreign Affairs did not respond to Reuters‘ request for comment on the details of negotiations Qatar ’s role in the talks or the terms of the final agreement Nasser Kanaani Iran s foreign ministry spokesperson said when asked about this story in a televised news conference that Tehran would free the Americans on humanitarian grounds”

The sources account of the negotiation shows how the deal sidestepped the main US-Iran dispute over Iran’s nuclear aims, culminating in a rare moment of cooperation between the long-time adversaries at odds on a host of issues from Iran s nuclear program to the US military presence in the Gulf Ties between the US and Iran have been at boiling point since Donald Trump quit a nuclear deal with Iran as US president in 2018 Reaching another nuclear deal has

gained little traction since then, as President Joe Biden prepares for the 2024 US election

The State Department spokesperson also said there had been no change in Washington’s overall approach to Iran “which continues to be focused on deterrence pressure and diplomacy Once the funds are transferred they will be held in restricted accounts in Qatar, and the US will have oversight as to how and when these funds are used, the State Department spokesperson added

T d y 12 S pt b 2023 | K AR ACHI 06 NEWS
BEIJING S TA F F C O R R E S P O N D E N T
BEIJING S TA F F C O R R E S P O N D E N T

CORPORATE CORNER

TECHNOLOGY, INNOVATION MUST FOR DEVELOPMENT OF AGRICULTURE: ICCI PRESIDENT

PR E S I D E N T Islamabad Chamber of Commerce and Industry (ICCI) Ahsan Zafar

Bakhtawari Monday said that there is a need to bring technology and innovation for the development of agriculture in Pakistan and to increase the export of the agricultural sector

C hairmen of Pakistan's D istribution Companies G ather at FESCO Headquar ters to Enhance Power S ec tor Cooperation

FAISALABAD: On the invitation of Chairman

FESCO Board of Directors Malik Tahseen Awan, the Chairman Board of Directors of various Distribution Companies across Pakistan visited the FESCO Headquarters Chairman Board of Directors of LESCO (Lahore) Hafiz Muhammad

Noman Chairman Board of Directors QESCO (Quetta) Engineer Abdul Wahab Magsi Chairman

Board of Directors HESCO (Hyderabad) Engineer

Sheikh Jamil Gul, Chairman Board of Directors of PESCO (Peshawar) Faizullah Khan and Chairman

Board of Directors SEPCO (Sukkur) Agha Lal Bux Khan were present on this occasion Chief Executive Officer FESCO Engineer Bashir Ahmed briefed the distinguished guests regarding FESCO s losses recovery commercial and technical working customer services, planning and ERP, which they appreciated and described as exemplary PR

He expressed these views while talking to the head of World Food and Agriculture Organization Pakistan Florence Rolle who met him yesterday along with a delegation On this occasion, the possibilities of cooperation between the two institutions were discussed

Despite being an agricultural country, the annual import of goods worth billions of dollars is regrettable Cooperation with international agencies and donors should be done for the development of agriculture

ICCI president said that Pakistan being an agricultural country is very im-

portant for the world About 18 5% of Pakistan s Gross National Income (GDP) is comprised of agriculture64% of the rural population is employed in agriculture while about 43% of the total national labor force is in agriculture Pakistan is one of the 11 major countries in the world that have vast and fer-

Town achieves early

P R

Etihad Town a renowned real estate developer proudly announces the early possession of plots in Phase II (Technically Approved as Arcos Housing Scheme), reaffirming their commitment to delivering projects before time The possession event took place at the Phase II site where buyers who had purchased plots through two separate ballots held in March and May were delighted to receive their properties ahead of schedule

had

NUST organises webinar on ‘Pakistan: Image Building and Perception Management’

I S L A M A B A D: The NUST Institute of Policy Studies (NIPS) organised a webinar on ‘’Pakistan: Image Building and Perception Management

Moderated by Mr Amir Yaqub Director NIPS the webinar witnessed overwhelming participation from all over the world, including veteran statesmen, academic experts, international think tank specialists, researchers and students The first keynote speaker Mr Javed Jabbar a former Senator delivered an insightful lecture on the Nation Branding: Strategic Imperative for 21st Century National Growth and Development His talk focused on Pakistan s outstanding historical accomplishments, the country's extraordinary potential, and the pluralistic and flexible nature that makes it a strong and competitive nation He emphasised that to enhance Pakistan's reputation abroad there is a need to address the inequalities within the State PR

tile agricultural land For the development of this sector the government private sector and other related institutions need to follow a coordinated policy together By adopting technology and innovation we can make Pakistan a food basket

He praised the World Food and Agricul-

Phase-II,

y

ture Organization for the promotion, improvement and problem solving of agriculture

He said that World Food and Agriculture Organization can use the platform of Islamabad Chamber for its activities and seminars Speaking during the meeting World Food and Agriculture Organization Pakistan head Florence Rolle said that her organisation is working on several projects to bring innovation in the agriculture sector in Pakistan

“We also want to work with the business community of Pakistan on other projects he said In this regard Islamabad Chamber should play its role in linking with other chambers including FPCCI In the meeting, MoU regarding cooperation between Islamabad Chamber and World Food and Agriculture Organization was discussed which will be signed soon Head of Operation of Food and Agriculture Organization Chairman Founder Group Khalid Iqbal Malik, Secretary General United Business Group Zafar Bakhtawari and others participated in the meeting

S tay S ec ure: Visa S tudy

Reveals 91% of Pakistan

Consumers are at Risk of Responding to S c ammers

K A R A C H I: Overconfidence is leaving consumers in Pakistan open to becoming victims of fraud according to Visa s latest Stay Secure study released today

Despite more than half of respondents (56% similar to the global average) claiming to be savvy enough to sidestep online and phone scams the reality is that nine out of ten (91%; similar to global) are likely to disregard the warning signs that suggest online criminal activity Conducted by Wakefield Research in countries across Central and Eastern Europe the Middle East and Africa (CEMEA)

IIUI president c alls on educ ation minister

ISLAMABAD: President International Islamic University Islamabad (IIUI) H E Dr Hathal Homoud Alotaibi, Monday, called on Federal Minister for Education and Professional Training, Madad Ali Sindhi and congratulated him on his appointment During the meeting issues of mutual interests including initiatives for promotion of quality education and role of universities in discouraging extremism were discussed The meeting was also attended by Vice President Administration and Finance Dr N B Jumani Honorable Minister, while appreciating the role of IIUI in society building and services, assured of maximum support to IIUI He opined that universities can play vital role in curbing the extremism He desired that the IIUI being the best platform should hold a conference on the life of Holy Prophet (PBUH) The IIUI President said that university will be soon scheduling this conference in cooperation with the ministry He also apprised that the university will hold another conference on Shariah that will be attended by Imam e Kaaba PR

AIOU to celebrate its golden jubilee with full zeal

I S L A M A B A D: Allama Iqbal Open University (AIOU) will mark 50 years of completion next year The university has made significant progress in various fields since its inception Today, AIOU stands as the largest university in the country in terms of the number of students and has successfully achieved its founding goals More than 4 6 million students have graduated from Allama Iqbal Open University by June 2023 Vice Chancellor AIOU Prof Dr Nasir Mahmood has decided to celebrate the completion of 50 years of this mega university with full zeal across the country The university administration has formed various committees which will bewill be responsible for highlighting the historical context of the university setting up a history corner, and organizing alumni associations, conferences, seminars, and convocations in the main campus and provincial capitals PR

UAE Crown Prince’s vision for Houbara and developnent in South Punjab

HASSAN SHAH

The UAE's impact on Pakistan's journey towards development is undeniable One of the most prominent aspects of this collaboration has been in the realm of infrastructure development Significant investments have been channeled into the construction of highways bridges and ports These endeavors not only improve connectivity within Pakistan but also enhance trade links with neighboring nations In the vast expanse of Pakistan's Rahim yar Khan and Bahwalpur Districts , an extraordinary conservation effort has been quietly unfolding, thanks to the unwavering commitment and vision of Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Through the work of the Houbara Foundation, Sheikh Mohammed's passion for wildlife preservation and habitat restoration has found fertile ground, and the results have been nothing short of remarkable

The Houbara Foundation's work in Pakistan is centered around the conservation of the Houbara bustard a majestic bird that migrates across international borders and plays a vital role in the region s ecosystem

The foundation s efforts go beyond protecting a single species; they encompass the broader goal of preserving the delicate balance of nature and the biodiversity of the Bahawalpur and Rahim yar Khan districts

One of the most significant contributions of the Houbara Foundation is the establishment of breeding and rehabilitation centers for the Houbara bustard

These centers serve as sanctuaries where the birds are protected from threats such as habitat loss and poaching By bolstering the Houbara population, these efforts have a ripple effect on the entire ecosystem, helping to maintain ecological stability Sheikh Mohammed bin Zayed's focus on the environment extends to habitat restoration The foundation

has been instrumental in reforestation projects which not only provide habitat for the Houbara but also combat desertification and promote sustainable land use

The positive impact on local communities cannot be understated, as these projects often create employment opportunities and improve the overall quality of life

Furthermore, the Houbara Foundation's dedication to education and awareness is a crucial aspect of their work They engage with local communities providing environmental education and involving them in conservation efforts This approach not only fosters a sense of ownership among the people but also ensures the sustainability of the projects in the long run

It's important to recognize that conservation work on this scale is not without its challenges Balancing the needs of wildlife conservation with the interests of local communities can be complex Striking a harmonious chord between the two requires careful planning engagement and mutual understanding

In conclusion, Sheikh Mohammed bin Zayed Al Nahyan's Houbara Foundation has set a commendable example of how visionary leadership and a deep commitment to environmental conservation can make a profound impact Their work in Pakistan's Bahawalpur and Rahim yar Khan goes far beyond preserving a single species; it is a testament to the interconnectedness of all life forms and the importance of preserving the delicate tapestry of our planet's ecosystems

As we witness the effects of climate change and habitat destruction worldwide, the efforts of the Houbara Foundation serve as a beacon of hope reminding us that with dedication collaboration and a shared vision we can work towards a more sustainable and harmonious coexistence between humans and nature Sheikh Mohammed's legacy in Bahawalpur is not only about saving a bird but also about preserving the beauty and diversity of our planet for future generations

Visa’s 2023 Stay Secure Study finds that just over one in two people (52%) in Pakistan has been a victim of a scam at least once similar to the global average Even more alarming is the finding that 21% of the victims have been tricked multiple times, against the global average of 15% PR

Eighteen's developer wins award for best foreign real estate investment in Pakistan

Chairman & CEO of ORA developers, Mr Naguib Sawiris received the award for the Best Foreign Real Estate Investment in Pakistan Rawalpindi Chamber of Commerce & Industry which promotes economic development strengthens international trade and honors business excellence organised the prestigious 35th RCCI International Achievement Awards 2023 hosted in Cairo, Egypt Naguib Sawiris is a visionary real estate and hospitality entrepreneur that has enhanced development potential and morphed the foundation of the industry EIGHTEEN housing project is first foreign investment in real estate sector of Pakistan Eighteen located on the focal point for the twin cities with an extensive footprint, the mixedresidential development spans over a total of 2 7 million square yards which is themed around an 18hole championship golf course with ample green spaces and beautiful panoramic views PR

SIEHS Commemorates Defence Day’s Shuhadas & Launch of Rescue 1122’s ambulance services across Sindh

SIEHS celebrates “Youm-e-Difa-o-Shuhada-ePakistan” as a remembrance of the exceptional unity and unwavering resolve to protect our motherland and to foil the brazen acts of aggression by the adversary It is a day to honour the unprecedented valour exhibited by our soldiers and the selfless sacrifices made by the nation to defeat the enemy’s nefarious designs SIEHS also celebrated the launch of Sindh-wide Rescue 1122’s ambulance services across the 30 districts of Sindh with more than 350 ambulances on the roads The entire populace of the province has now joined the club of global health coverage services through DoH-SIEHS PR

07 NEWS Tuesday 12 September 2023 K AR ACHI
ISLAMABAD S TA F F R E P O R T
Etihad
possession of
continuing the legac y of before time deliver
Rotar y Pakistan Collaborating with Corporate and Social Sector Organizations for Smart Village Project throughout Pakistan ISLAMABAD: Rotary Pakistan a leading nonprofit organization dedicated to community service, is proud to announce its collaboration with corporate and social sector organizations for the Smart Village Project aimed at bringing sustainable development to communities across Pakistan The Rotary Foundation Seminar was held at the Islamabad Chamber of Commerce and Industries graced by the presence of esteemed guests, including Former Rotary International President Barry Ressin, Chair of the Trustees of the Rotary Foundation for 2023-2024, Rotary International Director Faiz Kidwai and Aziz Memon Trustee of the Rotary Foundation The event also witnessed the participation of a significant number of Rotarians civil society business community and LOIN members PR Marking the World Water Week, CCI Pakistan Installs 35th PAANI Plant In a ceremony held at Rescue Headquarters located in Lahore Mr Ahmet Kursad Ertin Regional Director (SAME)- CCI Pakistan (Coca-Cola Beverages Pakistan Limited) and Dr Rizwan Naseer Secretary Emergency Services Department inaugurated a new water filtration Plant installed for the local community The ceremony was joined by the senior management of the company along with World Wildlife Federation (WWF) and Rescue 1122 officials CCI Pakistan under its flagship CSR Project – PAANI has installed 35 water filtration plants across the country Each plant has a capacity to produce over 2000 liters of clean drinking water per hour, providing clean drinking water to over one million people per day PR
LAHORE
groundbreaking ceremony for the construction of more than 50 houses, further enhancing the development within the community E t i h a d To w n P h a s e I I o ff e r s prime residential and commercial plots with dual access from Ring R o a d a n d F e r o z e p u r R o a d T h e c o m m u n i t y f e a t u r e s l u s h g r e e n parks, providing serene surroundi n g s Wi t h t w o L D A a p p r o v e d s tructure roads , including a 100f e e t m a i n b o u l e v a r d , c o n v e n i e n t connectivity is ensured within the society Etihad Town Phase II features underground electrification e n h a n c i n g a e s t h e t i c s a n d s a f e t y This gated community offers resi d e n t s a s e c u r e a n d p e a c e f u l l i ving environment
Eti-
Town's strong reputation for early delivery is evident in the successful completion of Phase I before the promised deadline Etihad Town also initiated the
Caretaker Federal Minister for Energy Muhammad Ali addressing the press conference at Governor House Karachi on September 11, 2023 Govermor Sindh Kamran Tissori also present on the occasion PR

PAKISTAN NOT TO ACCEPT ANY CONSTRUCTION INSIDE ITS TERRITORY: MOFA

TH E spokesperson for Ministry of Foreign Affairs (MoFA)

Mumtaz Zahra Baloch on Monday made it clear that Pakistan cannot accept the construction of any structures by the Interim Afghan Government inside its territory

She expressed this while responding to media queries regarding the recent statement by the Afghan Ministry of Foreign Affairs on the closure of the Pakistan-Afghanistan border at Torkham

Mumtaz Zahra Baloch stated, “the statement of the Afghan Ministry of Foreign Affairs comes as a surprise as the Interim Afghan authorities know fully well the reasons for the temporary closure of the Pakistan-Afghanistan border at Torkham

Pakistan cannot accept the construction of any structures by the Interim Afghan Government inside its territory since these violate its sovereignty On the 6th of September instead of a peaceful resolution Afghan troops resorted to indiscriminate firing targeting Pakistan military posts, damaging the infrastructure at the Torkham Border Terminal, and putting the lives of both Pakistani and Afghan civilians at risk when they

were stopped from erecting such unlawful structures she argued

Such unprovoked and indiscriminate firing on Pakistani border posts cannot be justified under any circumstances

The unprovoked firing by Afghan border security forces invariably emboldens the terrorist elements she added She told that these elements are en-

CJP says SC tested several times over constitutional matters in Feb 2023

ISLAMABAD

Speaking for the last time at a ceremony marking the commencement of the new judicial year on Monday Chief Justice of Pakistan Umar Ata Bandial said that the court was tested several times in February 2023 with matters pertaining to the Constitution of Pakistan

He added that he did not want to repeat all that has happened but it is reflected in part in the decision for the audio leaks case

Commenting on his differences with incoming CJP

Qazi Faez Isa Justice Bandial maintained that the latter was an admirable man

The media is the eyes and ears of society, said the CJP, but, he added, incorrect reports were published about him He referred to the use of his phrases “good to see you” and “short and sweet” and said they were taken out of context He doesn’t hold this against the media he added

The outgoing CJP said that this might be his last address as the chief justice and mentioned that the ongoing political situation has also affected judicial performance

Commenting on the performance of the apex court, CJP Bandial said that the SC disposed of 23,000 cases in the past year breaking a previous record of disposing of 18 000 cases in one year

He added that he had wished to reduce the number of pending cases by 50 000 but managed to address only 2,000 cases from the backlog Justice Bandial took office as CJP in February 2022 and is due to retire on September 16, 2023 The Supreme Court has been marred with controversies this year against the backdrop of a political crisis which has garnered the attention of international media and much uncertainty surrounding the next general elections

The top court has decisions pending in several political and constitutional cases as CJP Bandial begins his last week in office

joying sanctuaries inside Afghanistan as confirmed by the UN Security Council s Analytical Support and Sanctions Monitoring Team in its latest report We have always said that we wish the border with Afghanistan to be a border of peace and amity between the two countries We have welcomed our Afghan brothers and sisters with open

arms for decades”

“Pakistan has continued to exercise restraint and prioritize dialogue in the face of persistent unwarranted provocations by Afghan troops deployed along the Pakistan-Afghanistan Border Temporary closures take place only in extreme cases such as the 6th September 2023 incident on the border or when Afghan soil is used to launch terror attacks inside Pakistan she added She said that the statement of the Afghan Ministry of Foreign Affairs also includes some irrelevant comments and unsolicited advice about Pakistan s economy and foreign trade For the last several decades Pakistan has facilitated Afghan transit trade and will continue to do so However Pakistan cannot allow the misuse of the transit trade agreement she asserted She reiterated that Pakistan stands ready to resolve all bilateral issues and concerns through constructive dialogue so that both countries can reap the dividends of economic connectivity and resultant prosperity We expect the Afghan interim authorities to be mindful of Pakistan s concerns, respect the territorial integrity of Pakistan and ensure that the Afghan territory is not used as a launching pad for terrorist attacks against Pakistan ” she concluded

Baldia fac tor y fire: SHC upholds death sentences of MQM ac tivists

KARACHI S TA F F R E P O R T

The Sindh High Court on Monday announced its verdicts on appeals of two activists of the Muttahida Qaumi Movement (MQM) against their death sentences upholding the decision of the anti-terrorism court in the Baldia factory fire case

The ATC had sentenced MQM activists Abdul Rehman and Zubair to death under charges of murder, extortion, arson and terrorism, which the two had appealed in the province’s top court

The appeals were heard by a high court division bench headed by Justice Mohammad Karim Khan Agha who reserved the judgment on August 29

Moreover in its verdict the SHC also rejected the government s appeal against the acquittal of four accused, including MQM leader Rauf Siddiqui, Umar Hasan Qadri, Dr Abdul Sattar Khan and Iqbal Adeeb Khanum for want of evidence

The Sindh top court however accepted the appeals of the four accused sentenced to life imprisonment Factory employees and gatekeepers Shahrukh Fazal Ahmed Arshad Mehmood and Ali Mohammad were sentenced to life imprisonment by the ATC, but the SHC in its verdict today accepted their appeals against their sentences and declared the sentences void

Following the verdict Siddiqui said: “Double standard of justice is the reason for Pakistan s poor condition I feel that the whole case was against me the MQM leader remarked adding that his party s workers were present at the time of the incident and were breaking walls to evict people

He further said that as the minister of commerce, he had no role in the inicdent or its proceedings but resigned from his position at the time 32 cases were made against me I was acquitted in all cases he said adding that he had faced all the cases I have appeared in all courts, including high court, Supreme Court, he said

Exactly 11 years ago, in 2012, a deadly inferno claimed lives of hundreds of workers at a factory in the city’s Baldia Town As many as 260 workers were burnt alive while working in the factory in the metropolis

Khadija Shah challenges her physical remand decision in LHC

LAHORE

S TA F F R E P O R T

PTI activist Khadija Shah has challenged an antiterrorism court s decision of granting her physical remand in the Lahore High Court (LHC) Barrister Sameer Khosa has filed Khadija Shah’s petition in the high court pleading that the police had got physical remand of the petitioner in 9 May case for score of times

The trial court dismissed the bail petition against the facts of case and the court decided her bail petition after addition of new clauses of law in the case, according to the petition “The trial court has granted physical remand of the petitioner against the law Granting physical remand without recovery has been illegal ” petitioner said Khadija Shah has pleaded to the court to declare the ATC s decision of her physical remand as unlawful

Petitioner has also requested to the high court to suspend decision of the trial court till the LHC decides the matter Khadija Shah has been a Pakistan Tehreek-e-Insaf (PTI) activist and daughter of former finance minister Dr Salman Shah Violent clashes broke out across Pakistan after the former prime minister and Pakistan Tehreek-e-Insaf chief Imran Khan was arrested at the Islamabad High Court (IHC) on May 9

The protests were held at various cities as the party workers agitated against the party chairman’s arrest

According to the prosecution the factory was set on fire by MQM leaders and activists over the nonpayment of Rs250 million in extortion The main accused Rehman had admitted in a confessional statement that the Ali Enterprises garment factory in Baldia Town was set on fire on the order of former MQM Karachi Tanzeemi Committee incharge Hammad Siddiqui over the factory owners’ refusal to pay Rs250 million in extortion Appellants counsel Mohammad Farooq Hassan Sabir and others denied the prosecution charges and laid the blame on the factory owners for the fire in their appeals They contended that the factory doors were closed when the fire broke out on the orders of the owners

They submitted that there was no emergency exit for the workers when the fire broke out and the people died in the fire due to the negligence of the factory owners and the related departments

They further submitted that the factory owners were held responsible for the fire in the initial report, but they were acquitted in the joint investigation report They said that entire evidence was relied on findings of the joint investigation teams by the prosecution which has no legal value and no material witnesses were examined by them

They submitted that the trial court had not scrutinised the evidence with regard to cause of the fire and examination of chemicals used to cause the fire They said no CCTV camera footage had been included as evidence in the trial court, and appealed to the court to set aside the trial court order with regard to the convictions of the appellants

F C o f f i c i a l m a r t y re d i n b l a s t o n Pe s h awa r ’s Wa r s a k R o a d

PESHAWAR S TA F F R E P O R T

A Frontier Constabulary (FC) official was martyred on Monday while eight others including two civilians were injured in a blast near Prime Hospital Complex on Peshawar s Warsak Road, police said Warsak Superintendent of Po-

lice (SP) Mohammad Arshad Khan confirmed that a vehicle of the Khyber Pakhtunkhwa FC s Mohmand Rifles regiment was targeted in the attack at around 10:30am

The vehicle was headed towards Peshawar from Machni when the blast occurred he said SP Khan said that one FC official was martyred as a result while

Cour t orders Attock jailer to arrange PTI chief’s conversation with sons by Sept 15

six FC officials and two civilians were also injured Stating that there was no prior threat alert , he said the blast was carried out using an improvised explosive device (IED) The SP said that further investigation was under way and that a report by the Bomb Disposal Unit would further clarify the nature of the blast

ISLAMABAD S TA F F R E P O R T

A special court set up to hear the cypher case on Monday ordered authorities to arrange conversation of PTI chairman with his sons by September 15

The court issued directives on the contempt of court petition filed by the PTI chief against the Superintendent of Attock Jail for disobeying Aug 30 court order Advocate Shiraz Ahmad Ranjha appeared before Judge Abul Hasnat Zulqarnain on behalf of former prime minister and submitted that despite the court order his client was not allowed to talk to his sons by phone

The official contended that under the Official Secrets Act the accused could not allowed to talk to anyone by phone

On Advocate Ranjha’s insistence that the jailer had committed contempt of court the judge directed the Superintendent of Attock Jail to implement the order by September 15 LAHORE

Elahi arrest case: LHC issues warrants for Islamabad IGP ’s arrest

The Lahore High Court (LHC) on Monday issued bailable arrest warrants for Inspector General Police (IGP) Islamabad after he did not appear before the court despite issuance of a notice against him in contempt proceedings over allegedly flouting court’s order by arresting former Punjab chief minister Chaudhry Pervaiz Elahi

In a report submitted before the court earlier Monday, Punjab Police declared Islamabad police’s arrest of Elahi as “legal and lawful”

A single-bench comprising Justice Mirza Viqas Rauf heard a plea filed by Elahi’s wife

Qaisara Elahi seeking contempt proceedings against investigation and operations DIGs

The Lahore security SP submitted a report before terming Investigation DIG Imran Kishwar and Operation DIG Ali Nasir Rizvi innocent with regards to violation of the LHC’s previous order, which had restrained the authorities from arresting Elahi who is also the president of the beleaguered Pak-

istan Tehreek-i-Insaf (PTI) in any new or

undisclosed case During the hearing, both the DIGs in question submitted before the court that they were on their way to drop Elahi at his residence when some police officials intercepted them and arrested Elahi following due process of law

They maintained that they did not even think to violate court orders that had bound them to ensure Elahi’s protection Regarding the non-appearance of Islamabad IG against whom LHC’s Justice Muhammad Amjad Rafiq had initiated contempt proceedings Justice Rauf expressed annoyance and remarked that it would look odd if this court summons the official in a different way

The petitioner ’s counsel sought time to go over the replies submitted by the two DIGs and the inquiry report by Punjab Police Later the hearing was adjourned till September 18

LHC s Justice Rafiq had earlier issued directives restraining the provincial and federal

authorities from detaining or arresting Elahi under any law relating to preventive detention

However, shortly after the former CM was released, Islamabad Police took him into custody Elahi was being taken to his residence under supervision of the two DIGs and the LHC s additional registrar at the time

Taking up Qaisara s plea Justice Rafiq issued notices to the Islamabad IGP seeking his reply by September 8 and directed Punjab IGP Dr Usman Anwar to submit a comprehensive report after conducting an inquiry

He had further directed the Attock district and sessions judge to have Elahi produced before court by September 5

On August 30, Justice Rafiq left the principle seat to preside over the Multan bench till October 28, following the judge’s roster The case was then assigned to Justice Rauf by LHC Chief Justice Muhammad Ameer Bhatti Justice Rauf had earlier initiated contempt proceedings against Islamabad chief commissioner and disposed of the habeas petition

The judge has also sought replies from the Attock jail superintendent and district police

order by September 18 with regards to show

cause notices issued to them on September 5

The PTI president has been arrested multiple times since May 9 riots and has been implicated in several cases He is currently

in judicial custody after an anti-terrorism court (ATC) in Islamabad remanded him for two weeks on September 8 in a case pertaining to rioting in the Federal Judicial Complex (FJC)

Published by Asad Nizami at Plot No 66-C, 1st Floor, 21st Commercial Street, Phase-II (Extension), DHA Karachi and printed at Ibn-e-Hassan Printing Press, Hockey Stadium, Karachi, for PT Print (Pvt) Limited Ph: 021-35381208-9 Email: newsroom@pakistantoday com pk
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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 5:45 1 30 5:00 6:18 8:15 Tuesday 12 September 2023 NEWS

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