Epaper_23-09-15 ISB

‘UNEXPECTED’ DECISION: SBP MAINTAINS INTEREST RATE, BUT WHY?

U R O O J I M R A N

IN a move that defied expectations, the State Bank of Pakistan’s (SBP) Monetary Policy Committee on Thursday decided to maintain the benchmark interest rate at 22 percent This appeared to be quite unexpected; analysts polled by Profit as well as other publications prior to today s meeting were majorly of the view that the SBP would hike the interest rate by 100200 basis points (bps) After all inflation still remains high despite declining from a record 38 percent in May And global oil prices have been on the rise

However, the SBP appeared to be confident that inflation would continue to decline, especially in the second half of FY24 In the monetary policy statement released after the meeting the central bank said the impact of high oil rates was being passed on through adjustment in administered energy prices, agricultural outlook had improved, and a recent crackdown on smuggling of essential food items and illegal foreign exchange trades had begun to yield results

As such real interest rates continue to remain in positive territory on a forward-looking basis, it stated [According to Investopedia s definition, the real interest rate is the observed market inter-

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est rate adjusted for the effects of inflation

What exactly does this mean? Let’s say the interest rate offered by a bank on your deposited savings is 20 percent If you kept Rs 1 lakh in that account, at the end of the year, you would have Rs 1 2 lakh However, the annual inflation that year was 21 percent This means that while the amount of money in your account increased in real terms you could buy less with that money because the cost would be Rs 121 000 This means the real interest rate was negative If the real interest rate was positive let’s say 23 percent then you would have had Rs 123 000 at the end of the year ]

Positive real interest rates encourage people to keep their money in banks as it protects them from inflation So raising the benchmark interest rate to a point where the real interest rate is positive means less money is going towards purchases which decreases demand one of the primary tools a central bank uses to curb inflation

The SBP has raised the interest rate by 12 5 percentage points since April, mainly citing rising inflation However, it decided to maintain the policy rate at the MPC’s last meeting in July and has stuck to its stance despite market expectations to the contrary This means one of two things either the SBP governor and the MPC truly believe that inflation will fall below 22 percent, or they (or

whoever else influences the policy) believe there is little use in raising the policy rate as it will not control inflation

During the post-MPC analysts briefing, SBP officials asserted that inflation would decrease significantly in the second half of FY24, due in part to the high-base effect

In response to a question Governor

Jameel Ahmad also said the MPC had factored current global oil prices as well as projections while making a decision

One particular factor taken into account was forward-looking inflation in the next 12 months and [we] tried to keep real interest rates positive ”

This shows the SBP s confidence

It was a very bold decision according to Yousuf Saeed head of research at Darson Securities Today s decision will boost market confidence

However, we need to keep an eye on energy prices (fuel gas and electricity) he commented While inflation may continue its downward trajectory will it fall below 22 percent and real interest rates become positive?

SBP believes that inflation will remain in check despite rising oil and power prices and real interest rate will be positive We believe there is a high risk that inflation may remain higher than the SBP estimates due to rising global oil prices and adjustment in energy prices in Pakistan, read a note by

ECC emphasizes PIA’s

Topline Research Topline also revised its estimate for average annual inflation in FY24 to 23 percent from 21 percent previously

This is slightly higher than the SBP s estimate of 20-22 percent

Sajid Amin, deputy executive director at the Sustainable Development Policy Institute (SDPI) termed the SBP’s decision risky saying the central bank may have taken it based on ad hoc measures such as the recent crackdown which led to the rupee s appreciation and a reduction in the prices of food items including sugar If inflation won’t come down then why has the SBP not raised the interest rate? It may be because the governor and the Monetary Policy Committee believe that inflation cannot be controlled by simply hiking the interest rate Fahad Rauf, head of research at Ismail Iqbal Securities commented “I think it is a fair decision given that there are no signs of an overheating economy and a rate hike would have yielded little benefit in terms of curbing cost-push inflation In an economy like Pakistan’s that does not work on heavy borrowing raising the interest rate would only lead to increasing the working capital of businesses which would then pass on the effect to consumers This is known as cost-push inflation

Outgoing CJP sanguine about polls on time

ISLAMABAD

Chief Justice of Pakistan (CJP) Umar Ata Bandial on Thursday said there was an explicit directive in the constitution about elections within 90 days of dissolution the assembly expressing the hope the upcoming elections would be held within the constitutionally mandated timeline

The outgoing CJP was addressing a dinner organised in his honour by Supreme Court Bar Association (SCBA) resident Abid S Zuberi Reflecting on the court’s performance he stressed the importance of law enforcement and acknowledged that reducing the backlog of pending cases was a priority The efforts in the past year yielded some results as two thousand cases were disposed of However, he admitted that this fell short of satisfactory performance and expressed the hope that he will be remembered for his contributions after he doffs his robe CJP Bandial also emphasised that decisions do not belong to one individual but to the entire organisation

He commended the judges who showed courage in their judgments, as well as the young lawyers who presented their arguments before the court He underscored the importance of strong bar councils in ensuring a robust judiciary urging unity among the Supreme Court and high court bars CJP Bandial also touched on the issue of suo motu notices, mentioning PTI leader Babar Awan s request to take notice of President Arif Alvi’s tweet regarding contentious bills He stated that the court had avoided taking suo motu notices in such situations

Babar Awan saheb made a passionate speech I thought he would appear before the court with a petition Perhaps he might submit an application in the future

PR OFIT M O N I T O R I N G D E S K Pakistan s caretaker government is facing a multifaceted financial challenge as it seeks to secure dollar loans for the import of petroleum products As per reports, at the heart of this issue is the potential $3 3 billion syndicate financing deal with the Islamic Development Bank (IsDB) which may come at an interest rate exceeding 10 percent These developments are unfolding against a backdrop of surging global petroleum prices and dollar scarcity With limited dollar reserves, the government is exploring the option of approaching the Kingdom of Saudi Arabia (KSA) to extend the deferred oil payment facility which is set to mature in December 2023 Up to August 2023 KSA disbursed $600 million with an additional $400 million anticipated by the year s end Pakistani oil companies consistently purchase $100 million worth of crude oil monthly, with invoices sent to Saudi authorities, who subsequently transfer funds to the Government of Pakistan The Ministry of Finance has also consulted with leaders in the domestic oil

industry who have recommended pursuing the IsDB s $3 3 billion syndicate loans from 2023 to 2025 The reason behind this recommendation is that IsDB s terms may be more favorable compared to the prevailing interest rates in both domestic and international markets

Out of the total $3 6 billion financing allocated by IsDB s International Trade and Finance Cooperation (ITFC) $300 million came directly from IsDB and the remaining $3 3 billion was intended to be arranged through syndicate financing from international banks

However, it appears that commercial banks are showing greater interest in investing in international bonds rather than contributing funds to syndicate financing

PR

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PIACL, a state-owned entity, has been struggling for years to remain financially viable in the face of intense regional competition internal management issues and an inability to secure funds for fleet expansion It is learnt that with the government holding a 92% stake in the airline, its financial troubles have been a cause for concern

As of December 31, 2022, the airline’s debt and liabilities reached a staggering Rs 743 billion surpassing the total value of its assets Operational losses for the last financial year alone stood at Rs 11 billion contributing to total losses of Rs 86 5 billion

If PIACL s financial situation remains unad-

dressed projections indicate that its debt and liabilities could skyrocket to Rs 1 977 billion by 2030, with annual losses reaching an unsustainable Rs 259 billion Previous efforts to ensure the airline’s sustainability such as cost-cutting measures internal management improvements and government capital injections have not yielded the desired results

In June 2023 the government initiated a restructuring effort based on recommendations from the Dubai Islamic Bank Consortium Report of 2017

In a pivotal decision, the ECC has shifted the focus away from restructuring and toward the privatization of PIACL The Ministry of Aviation has been tasked with collaborating closely with the Privatization Commission to expedite the privatization process

To facilitate this move, the Aviation Division has been instructed to establish a technical committee This committee will be responsible for devising a concrete action plan to address PIACL’s outstanding liabilities and ensure a smooth transition to privatization

Lamenting the wastage of the court’s time due to other cases, CJP Bandial reiterated the importance of upholding the constitution and ensuring that repeated cases did not come before the court

He further vouched for the courage and independence of the judges in both the high courts and the Supreme Court, assuring the public of the judiciary s autonomy Referring to his own restoration after the Lawyers’ Movement fifteen years ago he referred to himself as the last dinosaur to return to the judiciary

I used to recite a poem 15 years ago during the movement

‘Short-and-sweet address’

In a light-hearted moment, he referred to his greetings that had made headlines, saying that he wanted to offer a “good to see you” to the participants and promised to keep his address short and sweet

He emphasised that judges and lawyers relied on the judiciary to resolve numerous pending issues and urged the public to have faith in the rule of law, hoping that the judiciary would continue to move forward unitedly

It may be recalled that the CJP in his previous speech had expressed disappointment over some incorrect reports published about him ruefully recalling that phrases such as good to see you and short and sweet, were taken out of context

However, he had said that he held no grudges against the media CJ vacates residence

Meanwhile the outgoing CJP has vacated the Chief Justice House and moved to a house reserved for retired judges CJP-designate Justice Qazi Faez Isa is set to take the oath of office on September 17

Massive POL price hike on cards amid cur rency, global oil fluctuation

privatisation instead of restructuring

SENATE BODY LAUDS POWER DIVISION FOR TAKING SWIFT ACTION AGAINST LINE LOSSES, ELECTRICITY THEFT

ISLAMABAD

S ta f f R e p o R t

ME E T I N G of Senate Standing Committee on Power Thursday applauded the Power Division for taking swift action against the line losses and electricity theft in different DISCOs

The meeting held here at Old PIPS Hall Parliament Lodges with Senator Saifullah Abro in the chair Additional Secretary, Power Division, Arshad Majid apprised that approximately around Rs one billion worth of recovery had been made in the last few days and the Power Division had also reshuffled the officers of various DISCOs to ensure its efficiency Saifullah Abro said that the Power Division should also reshuffled CEOs of DISCO’s and BoDs of various authority who allegedly

P a k - J a p a n d e f e n c e

had acted malafide and diminishing the capacity of power sector The senate body expressed annoyance over the non-implementation of the committee s recommendations relating to 765kV double circuit transmission line from Dasu Hydro Power Station to Islamabad

The Additional Secretary, Power Division informed the ministry had constituted a committee to investigate the matter and the report would be submitted once it was completed Saifullah Abro reiterated that the committee had explicitly identified irregularities in bidding process for the

‘Construction of 765KV double Circuit Transmission line from Dasu Hydro Power Station to Islamabad but irony was that despite making recommendations several times to take action against the alleged officials, Power Division had not taken any action

He further said that formation of committee was prerogative of NTDC and the letter written by the Power Division to World Bank for identifying procurement mismanagement in bidding process held no legal standing Moreover, the committee expressed displeasure over the absence of the Chairman, NEPRA and its Members and decided to issue summon for Chairman NEPRA and all its Members to attend next meeting While discussing the details of CPEC power plants the power division informed that sixteen power plants were part of the CPEC, with most of them being wind and solar based projects The committee inquired about the government stance on KAPCO Power Plant whose contract expired in June 2021 with IPPs Senator Saifullah Abro asked for clarification on how many years the gas and RFO had been provided to KAPCO

Power Plant However the power division failed to provide a response he added He recommended that the Power Division investigated allegations of illegal extension for KAPCO Power Plant

Furthermore, the chairman committee lamented the power division for shutdown of the Muzaffargarh and Jamshoro power plants and for not supplying them with sufficient gas Saifullah Abro remarked that one s could not apprehend how the Power Division planed to strive by shutting down public power plants The meeting was attended by attended by Senator Fida Muhammad, Senator Saifullah Sarwar Khan Nyazee Senator Sana Jamali Senator Haji Hidayatullah Khan Senator Bahramand Khan Tangi Additional Secretary Power Division Arshad Majid and others senior officers of relevant departments

Torkham border set to reopen today

ISLAMABAD

S ta f f R e p o R t

Caretaker Federal Minister for Defence

Lieutenant General (Retd) Anwar Ali Hyder has emphasized the need for further strengthening the existing defence collaboration between Pakistan and Japan

This was stated by him while talking to Ambassador of Japan to Pakistan Wada Mitsuhiro who called on him in Islamabad on Thursday Anwar Ali Hyder commended the efforts of Japanese government for regular holding of Pakistan-Japan Politico-Military and Military to Military Dialogues “Such interactions are a concrete expression of the desire of both countries to enhance mutual defence collaboration he added The minister also emphasized on continuation of training and collaboration between Navies of the two countries The Japanese Ambassador assured of his government’s continued support to Pakistan and exploring new avenues of mutual collaboration

Islamabad

Diagnostic Center organizes 3-day MRI training session

PESHAWAR S ta f f R e p o R t

Torkham border crossing a vital conduit for trade and human traffic between Afghanistan and Pakistan is set to resume regular operations from Friday following an eight-day suspension

The border crossing was closed after Pakistan accused Afghanistan of construction of a new structure on its territory leading to an exchange of fire between the security forces of the two

countries

As a result of the closure hundreds of trucks and travellers were stranded on the Pakistan-Afghanistan border Afghanistan is a landlocked country and relies on a transit trade agreement with Pakistan to do trade with the outside world Asmat Ullah Yaqub the person in charge of Torkham border affairs said about the reopening of the crossing At eight o clock tomorrow, the gate will be open as usual for transit and passengers ” he stated

Court extends interim bail of Imran Khan’s sister in graft case

MUZAFFAR GARH

S ta f f R e p o R t

An anti-corruption court in Muzaffargarh on Thursday extended the interim bail granted to Dr Uzma Khan, sister of former prime minister and PTI Chairman Imran Khan, until September 26 Anti-Corruption Judge Naveed Qureshi heard the case Member Punjab Bar Council Jam Muhammad Younas Advocate Rana Arif Kamal Noon Advocate Atif Mastoi and other lawyers appeared in the court A case was registered against Dr Uzma and her husband Ahad Majeed for purchasing 5,261 kanals of land in Layyah through fraud and deceit

Pak, US longstanding ties based on common heritage, mutual goodwill: Jalil Abbas

ISLAMABAD

S ta f f R e p o R t

Sources revealed that Islamabad had conditioned the reopening on the withdrawal of Tehreek-e-Taliban Pakistan (TTP) militants from the Chitral district Reports from sources on the ground indicate that the TTP has completely withdrawn from the border areas following the incursion of the Kabul regime Earlier in the day Foreign Office Spokesperson Mumtaz Zahra Baloch had said that the border closure was temporary and some development would take place in the coming days

L ahore police nab M ansha ‘Bomb’; retrieve grabbed public land

The City Police on Thursday arrested Malik Mansha Ali Khokhar, known as Mansha Bomb and retrieved land worth billions of rupees during a joint operation with the Lahore Development Authority (LDA)

The joint operation was conducted on the directions of Punjab Chief Minister Mohsin Naqvi who had received a number of public complaints during a visit to the LDA One Window Cell

ISLAMABAD S ta f f R e p o R t

The Islamabad Diagnostic Center a leading player in the field of medical imaging and testing has organized a highly transformative 3-day MRI training session, in collaboration with Phillips, featuring their distinguished expert, Naychi, informed a spokesperson on Wednesday This exceptional event showcased the power of collaboration and innovation in the world of medical imaging she said She added the Naychi s presence and expertise brought a wealth of knowledge, paving the way for significant advancements in understanding and leveraging cutting-edge technologies During the immersive three-day experience attendees delved deep into the latest breakthroughs in medical imaging gaining valuable insights that are poised to shape the future of the industry Naychi s guidance and expertise were pivotal in expanding the participants horizons and providing a comprehensive understanding of the subject matter Islamabad Diagnostic Center expressed profound gratitude to Naychi and Phillips for their invaluable contributions to this exceptional learning experience The successful completion of this training session underscores our commitment to staying at the forefront of medical imaging technology

He ordered Lahore Commissioner Muhammad Ali Randhawa Capital City Police Officer (CCPO) Bilal Siddique Kamyana and the LDA authorities to take action against the land mafia and retrieve public property

According to LDA officials the operation was launched swiftly during which Mansha Bomb was arrested and 75 kanal commercial land along PIA Road in Johar Town was retrieved

The land mafia had constructed shops and other encroachments on the occupied land The citizens in their complaints to the chief minister said that Mansha Bomb had grabbed their lands

They demanded the chief minister order retrieval of their lands, adding that they had become helpless With the ar-

rest of Mansha Bomb, the chief minister gave a stern warning to the land mafia that no one would be allowed to grab people s lands

On the other hand the Punjab chief minister visited under-construction Shahdara flyover where he reviewed the pace of work and told the media that work on the development projects in Lahore was underway day and night Citizens will be facilitated greatly with the completion of the Shahdara flyover project, he said, adding that work on Lahore s Band Road would start soon Malik Mansha Khokhar, also

The Anti-Terrorism Court (ATC) Lahore on Thursday sent PTI leader Dr Yasmin Rashid to jail on a 14-day judicial remand in a case pertaining to May 9 events

On Thursday, Dr Yasmin Rashid was produced in ATC upon expiry of physical remand ATC Judge Abher Gul Khan presided over the proceedings During the hearing

known as Mansha Bomb, is a notorious figure at the helm of a land mafia operating in Johar Town a suburban area of Lahore He is wanted by law enforcement agencies in connection with more than 70 cases related to land encroachment, firing upon law enforcement personnel, murder, and attempted murder Mansha Bomb has gained notoriety for targeting vulnerable individuals and unlawfully depriving them of their property He has managed to evade numerous charges through cultivating favorable relationships with whichever political party holds power in Punjab

police did not seek further physical remand of the PTI leader, at which the court sent her to jail on 14-day judicial remand The court also directed police to submit challan of the case at the next hearing

Separately ATC Judge Abher Gul Khan Thursday ordered jail authorities to get the PTI leaders Dr Yasmin Rashid and Umar Sarfraz Cheema treated at hospital for their health issues Anti-Terrorism Court Administrator Judge Abhar Gul Khan approved request of Pakistan

Caretaker Foreign Minister Jalil Abbas Jilani has said that Pakistan and the United Kingdom have longstanding bilateral ties based on common heritage values and mutual goodwill These views were expressed by him while addressing a reception hosted in honor of delegates of the Commonwealth Youth Ministers Meeting in London Jalil Abbas said that the 1 6 million British Pakistanis in the UK are an asset to the country and appreciated their positive role in the development of UKPakistan relations Secretary General Commonwealth Patricia Scotland appreciated the talent of Pakistani youth and the cultural beauty of the country

Ali Zaidi’s counsel submit reply to NAB in NCA probe

RAWALPINDI

S ta f f R e p o R t

Former federal minister Ali Zaidi’s counsel appeared before the National Accountability Bureau (NAB) in NCA £190 million scandal

The NAB had summoned four former federal ministers in National Crime Agency (NCA) £190 million scandal (Al-Qadir Trust Case)

The anti-graft watchdog had summoned former federal ministers Ali Zaidi, Faisal Vawda, Khalid Maqbool Siddiqui and Farrogh Naseem in NCA case on September 14 (today) and tomorrow They were advised to appear before a joint investigation team along with concerned record Ali Zaidi s counsel Abdul Qadeer advocate visited the NAB office and submitted his client s written statement Khalid Maqbool Siddiqui could not appear before NAB owing to political engagements in Karachi Faisal Vawda and Farrogh Naseem could not appear in NAB office in their personal capacity All four former federal ministers were members of former PM Imran Khan s cabinet which had okayed the decision for settlement of £190m deal The National Accountability Bureau (NAB) had launched an investigation against Imran Khan Bushra Bibi and others for the alleged gain of hundreds of canals of land in the name of Al Qadir University Trust which reportedly caused a loss of 190 million pounds to the national exchequer

Tehreek-e-Insaf leader and former minister Dr Yasmin Rashid for her treatment Dr Rashid had sought permission to get her examined for cancer at the Services Hospital, on which the court ordered jail authorities to conduct her cancer tests at the Services Hospital In this regard the court asked that the prison authorities to take Dr Rashid to the hospital for a cancer test Separately Anti-Terrorism Court Judge Abhar Gul Khan ordered the authorities to shift PTI leader Umar Sarfaraz Cheema to hospital for treatment

Sindh cabinet decides on militar y operation against dacoits, drug mafia

The Caretaker Sindh Government has decided to launch massive operation against dacoits in Sindh’s Katcha area with the help of Pakistan Army Police and the Rangers to eliminate menace of kidnapping of the innocent people

The decision was made in a cabinet meeting held here at Chief Minister House on Thursday with Caretaker Chief Minister Justice (R) Maqbool Baqar in the chair

The cabinet also accorded approval for extension of Rangers stay for another 6 months in Sindh from September 14, 2023

to February 2024

The Inspector General Police Sindh

Riffat Mukhtar briefed the Cabinet about overall law and order situation in the province with special reference to kidnapping for ransom cases and informed that during current year 2023, as many as 218 people had been kidnapped out of them 207 have so far been recovered

There are 11 people still under the captivity of the kidnappers the IG told the meeting and said of these 11 people seven were from Larkana, 3 from Shaheed Benazirabad and one from Sukkur districts

The IG told the cabinet that Naveed Lashari were kidnap ped from Jacobabad, Sagar Kumar from Garhi Yaseen Qadeer Zaheer Gulbahar from Kashmore and Shahid and Jabbar from Sukkur Soomar from Qasimabad Hyderabad and Farhan and

Shahid were made hostage by dacoits from Naushehro Feroze

The Caretaker Chief Minister Justice (R) Maqbool Baqar asked the IG Police and other law enforcement agencies for early release of all remaining hostages from their captors Justice Baqar also asked the IGP to keep in touch with the family members of the hostages and make them aware about the efforts being made for their release

The Caretaker CM also directed concerned authorities for immediate suspension of internet services in the Katcha area of the province

There are 238 villages in Sindh’s Katcha area where 8 Police stations and 20 Police Checkposts were established by the Sindh Police to provide security to the people the

cabinet was told

The Sindh Chief Minister also asked for the posting of honest and reputable police officers in the Katcha area and those who could not perform well should be removed from the posting

The CM also sought detailed reports regarding the status of 11 hostages and ordered them to start construction work on Ghotki – Kandhkot bridge over the Indus River so that the law and order situation could be improved

The cabinet also decided to launch a Police operation against dacoits and drug mafia in Katcha and other areas of the province with the help of the Pakistan Army Rangers and Anti Narcotics Force

Mukhtar Principal Secretary to CM Hassan Naqvi Advocate General Prosecutor General and other concerned officers attended the meeting

P P P S AY S B E I N G P U S H E D A G A I N S T T H E W A L L

KARACHI S ta f f R e p o R t

THE Pakistan Peoples Party (PPP) took an assertive stance on Thursday, leveling accusations against the caretaker federal government of unfairness and partisanship The party firmly stated that it would not entertain any excuses for delaying the upcoming elections, alleging a conspiracy to corner them and demanded a fair and level playing field

During a press conference held after the PPP s Central Executive Committee (CEC) meeting in Lahore, PPP leaders, including Shazia Marri and Faisal Karim Kundi, asserted that a deliberate state of confusion was being manufactured regarding the election schedule They

specifically referred to President Arif Alvi’s recent letter to Chief Election Commissioner Sikander Sultan Raja proposing November 6 as the date for the next general elections

Notably, the CEC meeting was attended by PPP cochairman Asif Ali Zardari and Chairman Bilawal BhuttoZardari both of whom had previously held differing views on the election date Marri, addressing the presser, stated that the CEC meeting was a continuation of previous discussions concerning the country’s overall situation including economic matters She mentioned that a comprehensive policy statement would be shared with the media following the conclusion of the meeting She emphasised that the PPP was not lacking in strength in any province and reiterated the

party’s demand for a level playing field She questioned why Sindh had been subjected to bureaucratic reshuffling when other provinces had not faced similar actions

Allegations of favouritism by the caretaker government were also raised during the press conference, with Marri claiming that they were attempting to corner the PPP She recalled a

Police arrest Imam Masjid accused of assaulting young boys in Larkana

prior agreement to hold nationwide elections simultaneously which she alleged had been reneged upon by Pakistan Tehreek-e-Insaf leader with a veiled reference to incarcerated former prime minister Imran Khan

Furthermore, the PPP leader accused the president of playing a dual role and questioned the constitutional authority for the president to set an election date

She revealed that a PPP delegation would soon meet with Election Commission representatives to convey their concerns about the lack of a level playing field while demanding that the elections be held within 90 days Addressing the delimitation process following the official national census of 2023, Marri clarified that the PPP had no objections but urged that it should not serve as a pretext for delaying the elections

Nine Baloch students selec ted for Reko D iq

QUETTA S ta f f R e p o R t

In a significant development nine young graduates from Balochistan have been chosen for the prestigious Reko Diq Mining Corporation (RMDC) International Graduate Programme, which was launched earlier this year in July

The programme, designed to foster a new generation of experts and leaders is a joint initiative of Barrick Gold a Canadian-based corporation that holds a 50% stake in Pakistan s Reko Diq mine

The primary aim of the RMDC International Graduate Programme, as stated in a press release issued by Barrick Gold on Thursday, is to cultivate a cadre of future professionals “who will not only address the skill gap in the region but also become advocates for the Reko Diq Mining Company and their province

Graduate Programme’

B a r r i c k G o l d w i t h a p r e s e n c e i n 1 9 c o u n t r i e s e m p h a s i s e s c r o s sb o r d e r k n o w l e d g e s h a r i n g a m o n g i t s t e a m m e m b e r s t o p r o m o t e k n o w l e d g e t r a n s f e r a n d e n h a n c e i n - c o u n t r y c a p a b i l i t i e s T h i s p r o g r a m m e t a i l o r e d f o r P a k i s t a n h a s b e e n c o n c e i v e d t o b o l s t e r n a t i o n a l h u m a n r e s o u r c e c a p a c i t y w i t h i n t h e m i n i n g s e c t o r T h e g r a d u a t e s s e l e c t e d f o r t h i s p r o g r a m m e w i l l u n d e r g o a t w o - y e a r t e r m , a f t e r w h i c h t h e y w i l l r e t u r n t o P a k i s t a n t o c o n t r i b u t e t o B a r r i c k ’s b u s i n e s s i n t h e c o u n t r y

Out of the nine individuals selected four are women hailing from various parts of Balochistan They were chosen through a rigorous merit-based selection process These promising graduates represent diverse regions within Balochistan including Panjgur Gwadar

Quetta Loralai Khuzdar Pishin and the RDMC district of operations in Chagai

UoG Syndicate approves Rs4.6b budget for fiscal year-2023-24

GUJRAT S ta f f R e p o R t

The University of Gujrat (UoG) syndicate has approved a budget of Rs4 6 billion (approx) for the financial year 2023-24 as it met here at Hafiz Hayat Campus on Thursday The syndicate approval for the budget came in its 48th meeting which was chaired by Vice Chancellor Prof Dr Muhammad Mushahid Anwar Other items on the agenda of the meeting included the various proposals and decisions that had been thoroughly discussed and unanimously approved at the meetings of the Academic Council as well as Finance and Planning Committee held recently The syndicate members deliberated over them all and gave their approval They lauded the progress and development of the varsity made under the leadership of the vice chancellor The meeting was attended by Prof Dr Tariq Mahmood, representing Chairman HEC; Mr Arif Ali representing Secretary Finance; Prof Dr Kausar

Jamal Cheema; and Safia Javed Chaudhry CEO

Gujrat Education Department Dr Saifullah Dhillon; Deputy Secretary Muhammad Arfan Anwar, representing Secretary HED; Additional director Shahid Imtiaz, representing Secretary Law; and Muhammad Anwar Rashid attended online Registrar

Muhammad Naeem Butt Dean Prof Dr Zahid

Yousuf Dean Prof Dr Faisal Mahmood Mirza Director ORIC Prof Dr Audil Rashid Director QEC Dr Fayaz Ahmad and Additional Treasurer Ghulam

Safdar Malik also attended the meeting Prof Dr Muhammad Mushahid Anwar told the syndicate members that the UoG had made great strides in providing quality education to its students

SRINAGAR

S ta f f R e p o R t

The selected graduates have diverse educational backgrounds specialising in Electrical Engineering, Mechanical Engineering, Civil Engineering, Renewable Energy, and Geology

To find suitable candidates from Balochistan RMDC actively collaborated with educational institutions such as the Balochistan University of Engineering & Technology (BUET) Khuzdar, National University of Science & Technology (NUST), University of Balochistan, and Balochistan University of Information Technology Engineering & Management Sciences (BUITEMS) Moreover RMDC advertised the programme in mainstream publications in July 2023 to reach a wider audience Nida Yousuf, HR Manager at RMDC, described this opportunity as “life-changing” for the selected graduates She expressed hope that they would travel to Barrick assets in

The All Parties Hurriyet Conference while expressing serious concern over the plight of illegally detained Hurriyat leaders activists and youth has urged the United Nations Secretary General Antonio Guterres to play role in their release and also help to resolve the long-pending Kashmir dispute in accordance with the World Body’s resolutions

According to Kashmir Media Service the APHC spokesman in a statement issued in Srinagar urged immediate release of Hurriyat leaders including, APHC Chairman Masarrat Aalam Butt, Shabbir Ahmed Shah, Muhammad Yasin Malik Aasiya Andrabi Dr Abdul Hameed Fayyaz Nayeem

Ahmed Khan Naheeda Nasreen

Fehmeeda Sofi Ayaz Muhammad Akbar, Peer Saifullah, Raja Merajuddin Kalwal, Shahid-ulIslam, Farooq Ahmed Dar, Syed Shahid Yousuf Syed Shakeel Yousuf Muhammad Yousuf Mir

Muhammad Yusuf Falahi

Muhammad Rafiq Ganai Bilal Siddiqi, Maulvi Bashir Ahmed,

Argentina to receive on-the-job training and develop expertise in mining disciplines Ultimately, their return to Pakistan is expected to significantly enhance the pool of human resources at the Reko Diq Mine Reko Diq located in the Chagai district of Balochistan is a world-class copper-gold mine in development It is considered one of the largest undeveloped copper-gold projects globally The ownership structure includes 50% held by Barrick, 25% by three federal state-owned enterprises 15% by the Province of Balochistan on a fully funded basis and 10% by the Province of Balochistan on a free carried basis Barrick

Mushtaq-ul-Islam Umar Adil Dar

Zaffar Akbar Butt Sharief Sartaj

Hayat Ahmed Butt Dr Muhammad Qasim Fakhtoo

Ghulam Qadir Butt Muhammad Shafi Shariati, Showkat Hakeem, Merajuddin Nanda, Zahoor Ahmed Butt, Shabir Ahmed Dar, Firdous Ahmed Shah Jahangir Ghani Butt Saleem Nanaji Sajad

Hussain Gul Muhammad Yasin Butt Malik Noor Fayaz and others languishing in different jails of India and IIOJK

He said that the Modi-led Indian government was pro-longing the illegal detentions of Kashmiri political prisoners who have been put behind bars for peacefully struggling for the political resolution of the Kashmir dispute as guaranteed by the United Nations Security Council resolutions

The APHC statement said it is highly unfortunate that the Modi regime has closed doors of all peaceful means to resolve the longpending Kashmir dispute by resorting to worst kind of extremism and fascism and converting the occupied territory into a military garrison

The APHC while completely

rejecting the propaganda being spread by the Indian authorities and their agencies against the freedom movement Hurriyat camp and Pakistan said that the sentiments of the people of Jammu and Kashmir with regard to the resolution of the Kashmir dispute cannot be subdued through brutal repression and deceitful tactics The statement maintained that APHC will continue to represent the aspirations of Kashmiri people and seek their fulfillment through its principled stand of dialogue among the stakeholders of the Kashmir dispute

Meanwhile the Jammu and Kashmir Youth Social Forum chairman Maulana Musaib Nadvi addressing party activists in Srinagar urged the UN to send its teams to IIOJK to take stock of the ground situation He expressed serious concern over the deteriorating health condition of illegally detained Hurriyat leaders and activists languishing in different jails of India and IIOJK He added it is the responsibility of the UN to settle the Kashmir dispute by implementing its relevant resolutions to protect the lives of the people of IIOJK

LARKANA

S ta f f R e p o R t

Police arrested an Imam Masjid on the accusation of assaulting two young boys in Larkana, reported on Thursday The accused was identified as Shafiqur Rehman Almani He was a Paish Imam at the masjid He was accused of assaulting a 12-year-old and a nine-year-old boy A case against the Paish Imam was registered on the complaint of the father of one of the affected boys The students of the madrasa also staged a protest against the accused “I am innocent I have been accused falsely ” Shafiqur Rehman said “Shafiqur Rehman is an offender He used to assault students quite often and threaten them to keep quiet students alleged

JUI-F’s Hafiz Hamdullah among 11 injured in Mastung blast

CONTINUED FROM BACK PAGE

Separately Balochistan Interim Home Minister Zubair Jamali strongly condemned the incident and directed the relevant authorities to submit a report in this regard He directed the district administration to help the injured, while also praying for their swift recovery He said that all possible resources would be utilised to eliminate terrorists Meanwhile Sindh police chief Riffat Mukhtar directed the provincial police to remain on high alert in light of the blast in Mastung, and to carry out their duties with utmost vigilance and diligence While no group has taken responsibility for today’s blast, the JUI-F has been a target of the Islamic State Khorasan Province (ISKP) In the past the ISKP has targeted several local leaders of the JUI-F in Khyber Pakhtunkhwa s Bajaur suspecting them of having close ties with the Taliban administration in neighbouring Afghanistan

IRANIAN EMBASSY CONDEMNS

TERRORIST ATTACK ON JUI-F LEADER: The Iranian Embassy on Thursday strongly condemned the terrorist attack on senior leader of Jamiat Ulemae-Islam-Fazl (JUI-F) Hafiz Hamdullah in Mastung Balochistan The embassy in a statement posted on the social media platform X expressed its outrage in the strongest terms against this heinous act of terrorism The ominous phenomenon of #terrorism is meant to destabilize the countries & to endanger #peace & #stability in the countries of the region,” it added The JUI-F and its leadership have come under attack on previous occasions Earlier in July at least 63 people were killed and more than 100 injured when a suicide bomber set off explosives at the party s workers convention in the Bajaur district of Khyber-Pakhtunkhwa

‘Unexpected’ decision: SBP maintains interest rate, but Why?

CONTINUED FROM PAGE 01

Moreover rate hikes would have further increased government fiscal deficit and created a credit risk for the banking system Rauf added Independent economic analyst AAH Soomro also said the marginal utility of further hikes was negligible at best “The market seems disappointed though It’s clearer now that despite higher oil prices and an increase in gas and electricity prices SBP has given clear expectations of peaking interest rates This should comfort the borrowers – the government the most SBP must not ruin the opportunity by letting the rupee appreciate aggressively and should increase foreign exchange reserves,” he commented Another view is that since Pakistan is an import-dependent economy and the SBP’s interest rate hikes cannot possibly affect global prices of oil and food etc such increases would have no effect on imported inflation Of course this is not something that the SBP governor can say out loud And besides, other than analysing the reason behind the SBP s decision, another important question remains: what will the International Monetary Fund (IMF) say?

Under the $3 billion Standby Agreement the IMF has asked for an appropriately tight monetary policy that counters inflation If the IMF is not satisfied the government will have to raise the interest rate similar to how it did so in an emergency meeting in June However, Governor Ahmed said during the briefing that the current monetary policy was tight and in line with the SBA

Pakistan keen to enhance trade, investment relations with Iraq: Ahsan Z afar

ISLAMABAD S ta f f R e p o R t

President Islamabad Chamber of Commerce & Industry (ICCI) Ahsan

Zafar Bakhtawari has said that Pakistan wants to strengthen its bilateral trade and investment relations with Iraq in the traditional and non-traditional sectors that would be mutually beneficial for both countries and Pakistan embassy in Iraq should cooperate with the business community in achieving this goal

This was stated by him while talking

to Pakistan s Ambassador-designate to Iraq Muhammad Zeeshan Ahmed, during his Islamabad Chamber of Commerce & Industry (ICCI) on Thursday Ahsan Zafar Bakhtawari said that Pakistan and Iraq have good potential to develop strong cooperation in diverse fields including trade & industry, agriculture, tourism, energy, health, defence production He said that Pakistan can export many products to Iraq including textiles pharmaceuticals rice food products and can import oil from Iraq

The ICCI President stressed that the Pakistan embassy in Iraq should identify

the demand for Pakistani products and manpower in the Iraqi market and share such information with ICCI so that the business community could capture better market share in Iraq

Speaking on the occasion Muhammad Zeeshan Ahmed said that he would

and

He said that ICCI should share

that have

potential

with Iraq and he would cooperate in connecting them with relevant Iraqi counterparts for business cooperation He also discussed various possibilities with the business community to further improve bilateral trade and economic relations between Pakistan and Iraq Faad Waheed Senior Vice President ICCI said that Pakistan needs to focus on regional trade to improve its economy and said that Pakistani diplomats in Iran Iraq and Turkey can play a positive role in promoting Pakistan s trade with this regional block Zafar Bakhtawari, former President ICCI and Secretary General UBG Pakistan stressed the need of direct air links between Pakistan and Iraq to improve people-to-people and trade ties between the two countries Raja Imtiaz, Maqsood Tabish, Sheikh Muhammad Ejaz, Muhammad Shabbir, Khalid Chaudhry and others also shared useful ideas to improve Pakistan-Iraq bilateral trade ties in various sectors

‘International

APHC expresses concern over plight of K ashmiri politic al prisoners, demands their release

TH E attack on a JUI(F) leader in Balochistan;s Mastung province is the second attack on the party in six weeks the first being a blast at a party convention in Bajaur district in KP last month That attack led to over 60 deaths, while no one has been reported killed in the Mastung attack However, JUI(F) leader Hafiz Hamdullah was among the seven injured in this attack He had escaped the Bajaur attack because he had not turned up despite bring scheduled to do so That attack was claimed by the Islamic State-Khorasan Province The Mastung blast has not been claimed so far

It is worth noting that the blasts are coming just as Pakistan is about to get into elections In the 2013 election there were several attacks on election gatherings with the ANP and PPP left unable to carry much activity However, this time around, it seems that the JUI(F) is being targeted It is worth remembering that party chief Maulana Fazlur Rehman himself was attacked in 2011 but survived though nine others were killed The JUI(F) has been considered ‘soft’ on the Talian and the TTP, being also of the same Deobandi school of thought It has also been careful not to make any statement critical of the Taliban There are three dimensions that need to be explored First are there any intra-Deobandi feuds taking a violent turn? The IS-KP does have a problem with the Afghan Taliban, whom it regarded as soft on the USA Are there any intra-tribal or inter-tribal clashes playing out? And finally Hafiz Hamdullah bears a closer examination; he has been involved in such an incident for the second time It should not be forgotten that this attack has taken place in a sensitive area This is the area where sectarian militants and Baloch nationalists have made common cause It is also the area where the province is attracting much attention from Chinese investors and where Middle Eastern investors are using the Special Investment Facilitation Council mechanism to make investments The generally destabilizing effect of the Taliban government should not be forgotten It should not be forgotten that this is the area where they spent their exile while the USA occupied Afghanistan The caretaker government should pay particular attention to this attack for it challenges both its prescribed task (the holding of elections) and what seems to be its self-appointed one (bringing in foreign investment)

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late)

Founding Editor

Yousaf Nizami Editor

M A Niazi Joint Editor Umar Aziz Executive Editor

Amomentous vacancy has occurred in that the term of office of the President has expired, but the incumbent has not vacated it, because, unlike with other offices, he is not supposed to vacate until his successor takes over which is symbolized by his taking oath of office

Like the British monarch the President ‘reigns but does not rule However while he has no powers being bound to exercise his functions in accordance with the advice of the Prime Minister, he is the sole person at which all the three components of the government come together

He should not be assumed to be based on the British monarch but on the Viceroy of India who was based on the British monarch The East India Company when it got into the business of ruling established three Presidency provinces of Calcutta Madras and Bombay Eventually, the Governor of the Calcutta Presidency was named Governor-General and Viceroy He was the only Viceroy in the British Empire and he was both a representative of the monarch and stood in his or her stead

This was important for an empire with more than 500 princely states many of which had treaty relations between the ruling dynasty and the monarch It was because of one such treaty that, when Wajid Ali Shah was deposed as King of Oudh in 1856, his mother, brother and heir apparent went to the UK to see Queen Victoria The Indian Mutiny broke out in 1857 and Oudh stayed annexed It must be remembered that Oudh was a huge princely state and the Viceroy was usually enough for other nawabs or maharajahs

The combination of the Governor-Generalship and the Governorship of Bengal was abolished in 1853, and before that the arrangement had been additions to the presidencies to be put under lieutenant-governors

Thus Oudh and Punjab were absorbed as lieutenantgovernorships and only later became governorships Sindh was originally part of the Bombay Presidency until it became a province in 1932 Indeed, ,ost if not all, of the differences between the Punjab and Sindh provincial governments have been inherited from the different presidencies they originated in

Perhaps the main distinction between the presidential and parliamentary forms of government has been that the former separates the offices of head of state and head of government Whereas the head of state is the titular head of all three branches of government, the head of government is head of the Executive Branch In presidential systems, the head of government is also head of state

However he is usually excluded from the Legislative and Judicial branches except in a ceremonial role Pakistan s head of state is actually part of the Legislature, for not only is passage by both Houses required, but also the President s assent That assent in Pakistan has bee diluted to merely being able to delay legislation If he does not accord assent within

R e v i v a l a n d S u s t a i n a b i l i t y

issues but also lay the foundation for a more resilient and prosperous economy Sustainable manufacturing involves minimizing environmental impacts, optimizing resource use and adopting cleaner technologies

14 days, assent is deemed to have been granted anyway He can send it back for reconsideration, recording why he objects So far, all bills sent back for reconsideration have been passed without any of the suggested amendments

Another interesting imitation of the British monarch is the annual Speech from the Throne Some would liken it more to the annual State of the Union address made by the US President That itself was an imitation of the Speech from the Throne It could be said that the parliamentary system’s president is like the British monarch in the 19th century and a presidential system’s president like the British monarch in the 18th century when the USA won independence

The President is also head of the Executive for the provincial governors are his personal representatives, and all actions of the government are taken in their names All actions are the result of the advice of the PM or provincial CMs, and his influence remains informal He is much more involved in the Executive than in the Judiciary where his role is restricted to appointing and swearing in Supreme Court judges He has a particular link to the armed forces, whose Supreme Commander he is, though his ceremonial role seems restricted to granting commissions in all three services and formally appointing the service chiefs It is perhaps because of this that every military ruler has also been President The path to the Presidency for military rulers has not exactly been smooth and only Gen Yayha Khan took over as President Even Gen Ayub Khan only replaced the Prime Minister, leaving Iskander Mirza as President initially He had to resign Ayub then took over Under the 1962 constitution he was elected only in 1965, but resigned before completing his five-year term Instead of handing power to the National Assembly Speaker, as the Constitution specified, he handed over the the Commander-in-Chief, Gen Yahya Khan who also declared himself Chief Martial Law Administrator Yahya never had a term because he never let any electoral body meet He resigned after the 1971 War made it clear that the armed forces were close to mutiny if, as he wished, he had tried to carry on He was replaced by Zulfikar Ali Bhutto as President and CMLA though he relinquished the office when the 1973 Constitution came into effect on 14 August 1973 and he became PM The then Speaker of the National Assembly Fazal Elahi Chaudhry became President He became the first President of Pakistan to complete his term, remaining in office even though Bhutto was removed by a military coup, and COAS Gen Ziaul Haq became CMLA but not President When Chaudhry’s term came to an end in August

1978 he remained in office a month longer until Zia took over Zia was deemed elected President by virtue of the December 1984 referendum and thus he too died with his term incomplete Ghulam Ishaq Khan became acting President, and was subsequently elected to the post, after the 1988 election He too did not complete his tenure, resigning to pave the way for the 1993 elections After those elections the PPP s Farooq Leghari was elected dismissed the PPP government but then resigning in December 1997 over the judiciary Rafiq Tarar was then elected but shorn of the dissolution power He remained in office after the 1999 coup resigning in June 2001 so that Gen Pervez Musharraf could take over Musharraf was elected President by the outgoing assemblies in October 2007 but had to resign after the 2008 elections when he position became untenable, and the election in September 2008 was won by Asif Zardari He not only oversaw the returning of the post to a ceremonial one butwas only the first to leave office on completion of the tenure for which he was elected His succehe idea of the country as a conssor, Mamnoon Hussain, was elected in July 2013 and left in September 2018, when his tenure ended The incumbent was elected then It might be noted that, because there is no vicepresident in the sense of someone to serve out the remainder of a tenure there is no presidential election season and every time there is an overstay the new incumbent gets a full five years and future elections take place then To take the present case, the election will be held 30 days after general elections, whenever they are held The presidency is a relic of the colonial past but it is also a powerful symbol of constitutional rule Any fiddling is at the peril of upsetting the concept of Pakistan as a constitutional parliamentary democracy The writer is a member of staff

E d i t o r ’ s m a i l

Send your letters to: Letters to Editor Pakistan Today 4-Shaarey Fatima Jinnah Lahore Pakistan E-mail: letters@pakistantoday com pk Letters should be addressed to Pakistan Today exclusively

Carcinogenic ar tificial sweeteners

PA K I S TA N S economy like many others worldwide, faced severe challenges and disruptions in recent years

The covid-19 pandemic, inflation, energy crises and fiscal deficits have all contributed to economic instability

To ensure a resilient and sustainable future Pakistan must embrace innovative approaches in key sectors such as sustainable manufacturing, modern agriculture, the chemical industry, energy storage and handling, and bio refineries

Currently, the Pakistani economy is facing a variety of challenges

The majority of economic indicators are declining Pakistan experienced a sharp decline in GDP growth exacerbated by the cpvid-19 pandemic In FY 2022-2023, Pakistan s GDP growth rate stood at 0 3 percent, according to data from the State Bank of Pakistan High inflation rates have eroded purchasing power and strained household budgets In July 2021 Pakistan’s annual inflation rate was recorded at 19 9 percent according to the World Bank open data Energy shortages have plagued Pakistan s industries and households for years According to the International Energy Agency, Pakistan’s electricity generation capacity has struggled to meet demand leading to frequent blackouts

The fiscal deficit reached 4 6 percent of GDP in FY 2022-2023 according to the Ministry of Finance High deficits can lead to inflation and hinder economic growth Given these challenges, it is imperative to explore sustainable strategies that can not only address these

Developed economies like Germany have successfully implemented sustainable manufacturing practices leading to increased competitiveness and reduced environmental harm Germany s Industry 4 0 initiative has transformed its manufacturing sector by integrating digital technologies, robotics, and IoT to enhance efficiency and reduce waste This approach has not only boosted productivity but also reduced resource consumption Pakistan can emulate such models to revitalize its manufacturing sector which contributed 9 2 percent to GDP in 2022

Agriculture remains a vital sector in Pakistan, employing a significant portion of the population However, outdated farming practices and limited access to modern technology h a v e h a m p e r e d p r o d u c t i v i t y I n c o n t r a s t countries like the Netherlands have embraced m o d e r n a g r i c u l t u r e t e c h n i q u e s a c h i e v i n g high yields with minimal environmental impact The Netherlands employs precision agriculture, using data-driven decision-making, a n d a d v a n c e d m a c h i n e r y t o m a x i m i z e c r o p yields For example they have pioneered vert i c a l f a r m i n g a n d g r e e n h o u s e t e c h n o l o g i e s reducing land requirements and water usage w h i l e i n c r e a s i n g p r o d u c t i v i t y P a k i s t a n s adoption of similar techniques could bolster food security and increase exports, given its fertile land and diverse climate

The chemical industry provides crucial raw materials to various sectors including agriculture and manufacturing To promote sustainability developed nations like Sweden have invested heavily in green chemistry, which emphasizes the development of environmentally friendly products and processes Sweden’s chemical industry has seen significant growth in biodegradable and eco-friendly products aligning with global trends towards sustainability Pakistan could harness this potential by investing in research and development to create green chemicals and processes This not only reduces environmental harm but also opens up

PakistanÊs economic challeng es are formidable , but they are not insurmountable By embracing sustainable manufacturing, modernizing agriculture , investing in green chemistr y, transitioning to renewable energy sources, and establishing bio refineries, Pakistan can pave the way for economic revival and long-term sustainability.

new markets and revenue streams

Bio refineries offer a sustainable approach to produce biofuels bio-chemicals and biodegradable materials from biomass resources Many developed economies including the USA and Brazil have embraced bio refineries as a means to reduce dependence on fossil fuels and promote a circular economy

The USA, for instance, has made significant strides in biofuel production from corn and soybean feedstocks Brazil has become a global leader in bioethanol production from sugarcane Pakistan with its substantial biomass potential, can establish bio refineries to produce biofuels and value-added bio-chemicals, reducing greenhouse gas emissions and generating employment

A reliable energy supply is essential for economic stability and growth Many developed countries have transitioned to renewable energy sources coupled with advanced energy storage solutions, reducing carbon emissions and ensuring a stable power supply Germany s Energiewende, or energy transition, is a prime example It involves a shift away from fossil fuels and nuclear power in favor of renewable energy sources such as wind and solar By 2020 Germany produced over 57 7 percent of its electricity from renewables, according to the Fraunhofer Institute Pakistan can follow suit, capitalizing on its abundant solar and wind resources to reduce energy shortages and mitigate climate change Pakistan s economic challenges are formidable but they are not insurmountable By embracing sustainable manufacturing modernizing agriculture, investing in green chemistry, transitioning to renewable energy sources, and establishing bio refineries, Pakistan can pave the way for economic revival and long-term sustainability Solutions evolved by the developed economies like Germany the Netherlands Sweden the USA and Brazil illustrate the transformative power of sustainable practices These examples serve as beacons of hope, showcasing how sustainable approaches can lead to economic prosperity while mitigating environmental harm With the right policies investments and commitment to sustainability Pakistan can emerge from its economic challenges stronger more resilient and on a path toward a sustainable future

The writer is Vice Chancellor of the Khwaja

Fareed University of Engineering and Information Technology Rahim Yar Khan

S U G A R is widely recognised as a major contributor to various health issues including diabetes tooth decay and obesity Resultantly many individuals have turned to artificial sugars also known as non-caloric sweeteners as they are a seemingly healthier alternative These sweeteners such as aspartame, acesulfame K, saccharin, cyclamate, and neotame are commonly used in a plethora of food products

Even though they are used in minute quantities, their intense sweetness has raised concerns among people regarding their safety and potential adverse effects In Pakistan the consumption of artificial sweeteners is on the rise as doctors recommend them as a substitute for sugar However recent reports from the World Health Organisation have shed light on the carcinogenic nature of aspartame, particularly used in diet coke Numerous studies have also suggested a link between artificial sweeteners and cancer in humans

Consequently, cyclamate has been banned in the US and saccharin is prohibited in many countries worldwide Many other sweeteners are also banned in various countries across the globe Even in small quantities these sweeteners may be linked to cancer and other diseases so the government must act and impose a ban on their use in food products to protect public health

So, what alternatives are available to consumers seeking a sweet taste without compromising their well-being? The answer lies in natural sugars found in fruits milk and honey These natural sources of sweetness do not pose any known adverse effects on health and can serve as healthier alternatives to artificial sweeteners and common sugar

Researchers in the field of food science are diligently working on extracting sugars from these natural products Soon, these natural sugar extracts could be viable and safe options for sweetening various food products, offering consumers a healthier choice without compromising on taste

SAMRAN KHALID BAHAWALNAGAR

Qualit y higher education

I N Pakistan there is a dearth of qualified faculty in higher education institutions (HEIs) Many HEIs also lack resources to reform and update teaching curricula Usually public universities are considered worse off compared to private universities as they have lower fees and rely largely on government funding

Consequently, many public universities are poorly maintained and do not offer quality education However, a large proportion of students cannot afford private universities and depend on public universities for their education Higher education is an essential tool for building a knowledgeable modern and peaceful society As of 2017 Pakistan ranked 125 out of 130 countries in terms of quality of education

The relevant stakeholders including university administration and faculty as well as Higher Education Commission (HEC) need to acknowledge the vital role higher education plays in a country’s development and growth The government must allocate more funds and resources to public universities to improve their services and facilitate students HEC can play a vital role by monitoring education standards and ensuring that funds are used appropriately By improving higher education standards the country will have a more qualified and skilled labour force that can drive innovation and growth as well as showcase Pakistan s potential globally WARISHA SAFEER KARACHI

Prof dr MuhAMMAd SuleMAN TAhIr

The presidency is a relic of the colonial past, but it is also a powerful symbol of constitutional rule

Any fiddling is at the peril of upsetting the concept of Pakistan as a constitutional parliamentar y democracy

IN the rapidly evolving nexus of technology and law, we find ourselves confronting unprecedented challenges that test the very foundations of copyright law As a corporate and technology lawyer, I am deeply immersed in these discussions echoing the concerns we previously raised in the podcast Will AI Replace Human Judges? featuring myself and hosted by Syed Muzzamil Hasan Zaidi The conversation now extends to the realm of creative arts, where AI is not merely an assistant but a creator, generating content that necessitates a reevaluation of our existing legal frameworks governing copyright and ownership

In the USA the discourse surrounding the copyright issues of AI-generated content has recently been brought to the fore by a landmark case A district court ruled that AI-generated art does not qualify for copyright protection This ruling has ignited a fervent debate in the legal community, bringing to light the complexities and nuances associated with AI-generated content

Imagine a scenario where Kanye West collaborates with an AI software to produce a rendition of a popular Pakistani song or a situation where MidJourney utilizes AI technology to modify paintings originally crafted by Leonardo da Vinci In these instances, the delineation of copyright ownership becomes a complex and multifaceted issue The recent court ruling suggests that AI-generated content in its current legal interpretation falls outside the purview of copyright protection leaving it potentially vulnerable to unrestricted use and reproduction

This case sets a significant precedent highlighting the urgent need for a comprehensive legal framework that can adeptly navigate the intricacies of AI-generated content and address the potential copyright issues that may arise

Moving to the UK, we observe a legal landscape that while more defined compared to the USA still harbours significant ambiguities concerning AI-generated content According to the Copyright Designs and Patents Act of 1988 works generated by computers in circumstances devoid of human authorship can potentially be protected by copyright However, this provision seems to raise more questions than it answers, creating

W h o o w n s t h e c o p y r i g h t s i n A I ?

a fertile ground for legal debates and discussions

OpenAI, the entity behind ChatGPT, has ventured to navigate this complex terrain by assigning users “all its right title and interest in the output” This stance although providing a degree of clarity also transfers a substantial responsibility onto the users to ensure that the utilization of such content does not breach existing laws a task that is far from straightforward

As we delve deeper into this complex issue, it becomes apparent that a unified legal framework is desperately needed A framework that not only addresses the subtleties of AI-generated content but also safeguards the interests of all parties involved fostering a harmonious integration of technology and creativity

Drawing inspiration from our podcast discussion on the potential role of AI in the judiciary, it is evident that the incorporation of AI into the creative sector demands a similarly meticulous approach As legal experts, we are tasked with the duty of shaping a narrative that is both inclusive and forward-thinking paving the way for a future where technology and creativity can coexist harmoniously

As we venture further into this discourse it is essential to envision a future where the symbiotic relationship between technology and creativity is nurtured and protected The recent developments in the USA and the existing legal frameworks in the UK serve as a starting point a precursor to a more comprehensive and inclusive legal dialogue that encompasses the global implications of AI-generated content

In this transformative era, stakeholders from various sectors have a pivotal role to play Artists, technologists, and legal experts must come together to forge a path that respects the sanctity of human creativity while acknowledging the transformative potential of AI This collaborative approach would foster an environment where innovation is not stifled but encouraged where AI serves

as a tool to augment human creativity not replace it

Imagine a world where Elon Musk s rendition of a Pakistani song facilitated by AI technology becomes a harmonious blend of tradition and innovation a testament to the collaborative spirit of the 21st century Similarly, envision a scenario where MidJourney enhances the timeless masterpieces of Leonardo da Vinci, adding a new dimension to art bridging the past and the future in a seamless tapestry of creativity

As we ponder upon these possibilities it becomes evident that the existing legal frameworks are inadequate to address the burgeoning complexities of AI-generated content Legal reforms are not just necessary; they are inevitable These reforms should aim to establish clear guidelines that delineate the rights and responsibilities of all parties involved fostering a legal environment that is both adaptive and forward-thinking

L e t u s d r a w i n s p i r a t i o n f ro m o u r r i c h h i s t o r y o f l e g a l d i s c o u r s e a n d i n n ova t i o n , c h a n n e l l i n g o u r c o l l e c t i v e e x p e r t i s e t o c r a f t a l e g a l f r a m e wo r k t h a t i s b o t h ro bu s t a n d f l e x i b l e , c a p a b l e o f a d a p t i n g t o t h e e v e r- c h a n g i n g l a n d s c a p e o f t e c h n o l o g y a n d c r e a t i v i t y To g e t h e r, w e c a n u s h e r i n a n e w e r a o f h a r m o ny a n d p ro g r e s s , w h e r e t h e f u s i o n o f a r t a n d t e c h n o l o g y h e r a l d s a g o l d e n a g e o f h u m a n a c h i e v e m e n t .

The complex water dynamics between Iran and Afghanistan

team to the Dehravoud water measuring station which serves as the benchmark for assessing normal wet or dry water year

TEHRAN TIMES ay l i n J ava D i

TH E Helmand/Hirmand River, a transboundary river flowing along the Afghan-Iranian border originates in the majestic Hindu Kush mountains of Afghanistan and stretches for 55 km It eventually merges into the Sistan Delta With an average surface water availability of 9552 million cubic meters (Mm3) per year the Helmand River carries great significance Based on the 1972 Helmand/Hirmand treaty Iran has secured a commitment from Afghanistan to supply them with an average of 22 cubic meters per second (m3/sec) during normal or above-normal water years For friendly relations, an additional 4 m3/sec also promised to be provided These allocations add up to approximately 820 Mm3 per year

To put it into perspective this constitutes around 8 5% of the total average surface water availability in the entire basin or 14% of the 5661 71 Mm3 measured at the nearby Kajaki Dam

Numerous reports including one published by the US Senate Committee on Foreign Relations in 2011 have warned of escalating disputes and insecurities in the region due to Afghanistan s dam development plans These reports have depicted a potential threat to regional stability and highlighted the emerging conflicts over water

Speech acts which have the ability to shape social realities play a crucial role in changing international relations This was exemplified in 2021 when Afghanistan s president at the time, Mr Ghani, made a significant statement during the inauguration of the Kamal Khan Dam near the Iranian border Mr Ghani explicitly declared that Afghanistan would no longer provide free water to anyone and emphasized the need for discussions on water allocation beyond the agreed quota He even suggested that Iran could receive more water if it offered oil in return

Ultimately, in January 2022, the river’s flow was diverted to block water from reaching Iran and the Hamoun Wetlands Iran s President Ebrahim Raisi issued a warning to the Afghan officials in May 2023, urging them to respect the water rights of the people of Sistan Although Afghanistan’s Foreign Minister, Amir Khan Muttaqi argued that the water scarcity issue is a consequence of drought and that Afghanistan is committed to upholding the agreement the Taliban mobilized military forces, including weaponry and vehicles left behind by the United States

According to Iran’s special representative for Afghanistan, Hassan Kazemi, a recent visit conducted by Iran’s technical

Observations and measurements made by experts indicate that the current water flow at the station during August 2023 falls below the monthly average for a normal water year It should be noted however that this assessment is limited to this specific month and any drawing conclusions regarding dry, normal or wet year, as per the 1972 Hirmand Treaty, based on this data alone would be premature Furthermore it is worth mentioning that Iran’s allocated share of water has yet to be delivered said Hojat Mianabadi a faculty member of Tarbiat Modares University and expert on water diplomacy

The already-constructed dams and ongoing projects on the Helmand River Basin, including the Kajaki Dam, the Dahla Dam, the Kamal Khan Dam and the Bakhshabad Dam have raised concerns in Iran The populations in the river delta regions of Nimrooz Province in Afghanistan and the Sistan region in Iran heavily rely on the Helmand River for domestic water supply and agricultural irrigation Iran has implemented various projects such as the Chahnimeh Reservoirs to manage its water resources

However its complete dependence on upstream water sources requires the maintenance, or even reduction, of irrigated lands in the Sistan area Iran argues that the current water allocation from Afghanistan is insufficient to meet the domestic, agricultural, and ecological needs of its poorest areas Conversely Afghanistan also dealing with poverty and poor living conditions claims that it requires the same water resources for its socio-economic development, particularly for post-civil war economic recovery The river is also crucial for sustaining the transboundary interconnected Hamoun Wetlands and the Goad-e-Zereh depression which are essential parts of the river delta from an environmental perspective Efforts have been made to include Afghanistan in international initiatives to revive the Hamoun Wetlands, but Afghanistan has not responded positively so far

Drought periods whether caused by nature or human activities have historically played a crucial role in conflicts and cooperation surrounding the Helmand River While conflicts have traditionally arisen during drought periods, both sides have managed to keep them under control and adopt a limited cooperative approach However both Afghanistan and notably Iran appear dissatisfied with the level and outcomes of cooperation Recognizing the threat to its national security, Iran had reportedly called upon the United Nations Security Council since 2001 to intervene in the water disputes with Afghanistan Iran also proposed a joint study in 2019 to establish a platform for mutual water cooperation and find solutions for common water and environmental problems but Afghanistan did not respond favourably to the initiative Subsequent agreements were made in 2020 and 2021 to conduct a joint geological survey of the Helmand River in the border area While negotiations have continued with gradual progress the Taliban s return to

in

In the podcast “Will AI Replace Human Judges?”

we touched upon the potential integration of AI into the judiciary a discussion that mirrors the current discourse on AI and creativity Just as the judiciary stands to benefit from the analytical prowess of AI, the creative sector stands at the cusp of a revolution, where AI can serve as a catalyst for unprecedented innovation

We stand at a critical juncture in the evolution of technology and law The journey ahead is fraught with challenges but it also holds the promise of a future where technology and creativity coalesce to forge a new frontier in art and innovation

As a corporate and technology lawyer, I firmly believe that it is our duty to steer this discourse in a direction that safeguards the interests of creators while fostering an environment of collaboration and innovation It is a delicate balance to maintain but with concerted efforts and a unified vision we can pave the way for a harmonious future where AI serves as a beacon of progress, not a harbinger of discord

In this endeavour, let us draw inspiration from our rich history of legal discourse and innovation, channelling our collective expertise to craft a legal framework that is both robust and flexible capable of adapting to the ever-changing landscape of technology and creativity Together we can usher in a new era of harmony and progress, where the fusion of art and technology heralds a golden age of human achievement

The writer is an Advocate of the High Court He specializes in Cyber and Technology Laws advising various local and international tech firms government ministries and international organizations He can be reached at adam qasurilaw@gmail com

Why is France so obsessed with controlling Muslim women’s bodies?

between Afghanistan and Iran The situation remains ambiguous without a shared goal vision or common norm addressing the interests and identities of both countries regarding the Helmand River Basin

As a landlocked country striving for development Afghanistan sees unilateral water development as a strategic policy to address political failures and meet socioeconomic demands This reflects the significance of water as a high politics issue for both Afghanistan and Iran Conflicting interests arise from historical use, environmental considerations nationalism and development Afghanistan as an upstream country is hesitant to openly negotiate on transboundary waters out of fear of losing control over the river and limiting its use for national development On the other hand, Iran, as a downstream country, seeks cooperation to fulfil its domestic, agricultural and environmental water demands It is important to recognize that not all forms of cooperation are beneficial to all parties involved and disputes may lead to more equitable arrangements Cooperation over the Helmand River has even invalidated a legal treaty, calling for a re-evaluation of underlying disagreements

There are also other serious controversies between Afghanistan and its neighbouring countries regarding transboundary waters, often involving highlevel political and security discussions

Knowing the significance of the Harirud River to Iran and Turkmenistan, correspondingly Afghanistan has the ability to strategically manipulate water flow or restrict access as a means of coercing these two countries into making certain concessions or negotiating terms in its favour Iran and Turkmenistan have been substantial providers of Afghanistan’s electricity acknowledging the significance of neighbourly relations and shared water resources Nevertheless Afghanistan s failure to uphold the rights of these two countries over Harirud River may also have detrimental implications for their bilateral ties Consequently, Iran and Turkmenistan are actively pursuing negotiations with Afghanistan with the objective of establishing a common legal framework that ensures the equitable release of water from the Harirud River to meet their respective needs

The question remains whether Afghanistan will pursue the strategy of sailing of water, and if so, whether Iran will accept this decision Alternatively Iran may propose alternative solutions such as desalination or transferring water from the Oman Sea to break free from the cycle of hope and despair surrounding water availability Nonetheless, Iran, despite having the capability for desalination, is advocating for its rightful share of water from the Hirmand River Afghanistan on the other hand appears to be seeking to engage Iran in a trade-off involving water oil and electricity which would ultimately lead to the destruction of the 1972 Hirmand water treaty This scheme is seen as an attempt by Afghanistan to entice Iran into a trap, jeopardizing the existing treaty Iran is determined to engage in negotiations based on equitable sharing of water resources

EA R L I E R this month, France s top administrative court upheld the government’s decision to ban abayas in schools, after a Muslim rights group had argued that the measure was discriminatory In doing so the court crushed the last remaining sliver of hope for protecting fundamental freedoms and restoring justice for Muslim women in the country

The French government has justified the abaya ban on the basis of the constitutional principle of secularism But it is difficult to visualise how a handful of children wearing abayas poses a threat to France s secularism

According to AJ+ the number of pupils who wear abayas in school represents less than 0 00005 percent of all students in the country

Since the beginning of the academic year, dozens of schoolgirls have been sent home for wearing abayas Among those targeted were a 15-year-old wearing a Japanese kimono and a girl wearing a large T-shirt and pants The French state has embarked on a disconcerting patriarchal journey of controlling how loose or long a dress should be - all in the name of secularism In determining whether a piece of clothing contravenes secularism the abaya ban stipulates that teachers should assess the pupil s general behaviour According to human rights lawyer Nabil Boudi this implicitly legitimises discrimination based on race and religion If my name is Samira and I am wearing a kimono or abaya, it is religious clothing; but if my name is Sophie and I wear the same kimono then it’s not religious clothing he told BFM TV

In 1989 the same court ruled that forbidding headscarves at school was a flagrant violation of fundamental freedoms, noting that all pupils should be able to access education regardless of their religious beliefs This displeased the French government and parliament subsequently passed a law in 2004 forbidding all religious symbols in schools including headscarves Since then France has continued legislating Muslim women s bodies, regulating what they can or cannot wear

In 2010, France passed a law banning fullface veils, such as niqabs and burqas, in the streets The UN Human Rights Committee has said that this legislation constitutes a violation of human rights In 2016 some beaches in southern France banned the burkini a modest form of swimsuit traditionally worn by Muslim women Many were outraged upon the publication of a photograph showing French police forcing a Muslim woman at the beach to strip down

IMPERIAL TRADITION: The saga did not end there

This summer the country s top administrative court upheld the French Football Federation s decision to bar women from wearing headscarves The abaya ban thus fits into France’s legal history of undressing Muslim women The court’s decision is a perfect demonstration of how different state institutions work together to uphold discrimination The irony is that secularism requires a strict separation between church and state, meaning that the state should not in principle interfere with religious affairs

The ban also displays how French state institutions work together to uphold institutional racism fitting into a long imperial tradition of subjugating Muslim women s bodies France s obsession with such regulation dates back to the colonial era European travellers and colonisers have long been obsessed with the veil Colonialism has never been solely about economic exploitation; it also encompasses political and ideological domination

In 1959 anti-colonial author Frantz

Fanon wrote the following about French colonial rule in Algeria: If we want to destroy the structure of Algerian society, its capacity for resistance, we must, first of all, conquer the women; we must go and find them behind the veil where they hide themselves and in the houses where the men keep them out of sight The unveiling of Muslim women has thus been a central feature of colonialism, following the fallacy that colonial powers had the duty to “civilise the inferior race” This “civilising mission” presupposes that Muslim women don’t know how to be free and that they need to be saved from their own backwards culture and religion

WHITE FEMINISM: During the occupation, French colonial authorities forced Algerian women to unveil in the name of their own “freedom” yet raped and tortured them at the same time This historical colonial framework is still reflected in today s policies including the implementation of an exclusionary feminism

More concerning is the silence from the mainstream feminist movement in France

There is no doubt that controlling women’s bodies and legislating how they can or cannot dress is anti-feminist Yet the movement in France has been conspicuously silent when discrimination targets Muslim women

Key feminist activists and authors in France have not only failed to support Muslim women but ironically even supported their subjugation in the name of feminism French feminist icon Elisabeth Badinter wrote in 2009 of Muslim women who wear the full-face veil:

Are you not aware that you arouse mistrust and fear? Why not go to Saudi Arabia or Afghanistan where no one will ask you to show your face? Another example of exclusionary and scornful white feminism is the group Femen which has held demonstrations calling on Muslim women to “get naked” This attitude reflects a patronising view assuming that Muslim women do not know what is right for them, do not know how to be free, and need to be taught It is an exclusionary form of feminism that is extremely harmful

This attitude reflec ts a patronising view, assuming that Muslim women do not know what is right for them, do not know how to be free, and need to be taught

C H I N A I S S U E S P R O P O S A L O N R E F O R M

A N D G LO B A L G O V E R N A N C E

THE Chinese Foreign Ministry on Wednesday issued the Proposal of the People’s Republic of China on the Reform and Development of Global Governance with Chinese analysts saying this comprehensive and farsighted document reflects China s ideas and stances over almost all hotspot issues worldwide, and that it is crucial for the building of a community with a shared future for mankind

The year 2023 marks the 10th anniversary of the proposal of the idea of a community with a shared future for mankind by Chinese President Xi Jinping Over the past decade, this concept has grown from an idea to action, and from a vision to reality, said the proposal adding that China calls on the international community to act on true multilateralism uphold the international system with the United Nations (UN) at its core support the UN in playing a central role in international affairs, and further develop and improve the global governance system

Detailing the proposal at a regular press briefing on Wednesday Mao Ning a spokesperson for the Chinese Foreign Ministry said the international community expects the UN to play an active role in international affairs and continuously reform and improve the global governance system

The proposal comprehensively elaborates

China’s stance and propositions on key areas of global governance such as peace security development human rights and society as well as on institutional reform she said Experts held that in the document, China released its latest stances and proposals about the Ukraine crisis, the nuclear issues of Iran and the Korean Peninsula the Afghanistan issue the Palestine-Israel conflict as well as the issues of Syria Sudan Libya and Yemen These stances are different from the US and some of its Western allies, but much closer and similar to those of developing countries This proves that China will firmly stand with the justice and fairness upheld by the majority of the international community rather than submit to hegemony

On the Ukraine crisis the document said: No one gains from conflicts and wars

Imposing sanctions, exerting pressure, or adding fuel to the fire will only escalate the situation It is important to maintain mutual respect abandon the Cold War mentality stop ganging up to stoke camp-based confrontation and work to build a balanced effective and sustainable European security architecture

On the Korean Peninsula nuclear crisis, the document said: “Given the current situation, parties concerned need to remain calm and restrained work to ease the situation and make efforts to create conditions for the resumption of dialogue rather than insisting on sanctions and pressuring which would only aggravate problems and

escalate tensions ” Li Haidong a professor at the China Foreign Affairs University told the Global Times on Wednesday that currently global governance faces huge challenges of turbulence, splits and confrontation, and in order to ensure security, stability and sustainable prosperity we need positive effective and well-accepted ideas for global governance and ensure they are implemented This proposal is truly needed under the current situation The thinking of the US and the West on global governance is outdated and getting increasingly dysfunctional, and the ongoing turbulence around the globe is proof The old

Western-dominated rules and ideas are based on unfairness bullying and plundering against developing countries and these have brought huge risks to the world and created splits and confrontations, Li noted China s idea for global governance is made to counter the unfairness and imbalances ” Li said On the Palestine-Israel issue the document said: It is important to keep to the right direction of peace talks respect the historical status quo of the holy sites in Jerusalem, refrain from making radical and provocative comments and moves, promote the hosting of an international peace conference with wider participation higher author-

C h i n a a s k s b i g b a n k s t o s t a g g e r a n d a d j u s t d o l l a r p u r c h a s e s , s o u r c e s s ay

PR OFIT

r e u t e r s China’s central bank has asked some of the country’s biggest lenders to refrain from immediately squaring their foreign exchange positions in the market and to run open positions for a while in order to alleviate downside pressure on the yuan, two sources with knowledge the matter said

As part of this informal “window guidance” banks have been asked not to square their positions in the inter-bank foreign exchange markets after any U S dollar sales to clients until their spot foreign exchange position hits a certain level, the sources said

Most banks are allowed to run a net short or long foreign currency position in spot dollar-yuan markets within defined limits

The move would effectively mean some of the heavy dollar purchases by companies would be absorbed by banks and sit on their books for a while, thus

partially reducing downward pressure on the sliding yuan

The directive came from a meeting the People s Bank of China (PBOC) held with a few commercial banks earlier this week, the sources said Banks were also told that companies requiring to purchase $50 million or more will need to seek the central bank s approval Reuters reported China s yuan has lost more than 5% against the dollar so far this year to trade 7 2735 per dollar on Thursday, becoming one of Asia’s worst performing currencies for 2023

The People’s Bank of China (PBOC) did not immediately respond to Reuters request for comment

GOLDEN WEEK

The latest efforts by the PBOC to smooth currency movements come just ahead of China’s golden week holidays in early October which traditionally sees a spurt in overseas travel and dollar demand

The sources who received the di-

rective said banks were also told to encourage their clients to hold off on dollar purchases Wi d e n i n g y i e l d d i ff e r e n t i a l s w i t h o t h e r m a j o r e c o n o m i e s , p a r t i c u l a r l y

the United States, and a faltering domestic economic recovery have piled p r e s s u r e o n t h e y u a n I t s s t e a d y f a l l has also led to a lopsided market as exporters retain their dollar earnings in deposits rather than convert into yuan o r r e n m i n b i a s t h e l o c a l c u r r e n c y i s known in China

“The source of the weakness in renminbi is very simply that interest rates in China are low that activity in China is slow therefore the rate of return of marginal capital invested in China is not as great as elsewhere, and therefore that impacts capital flows, said Sid Mathur, head of Asia-Pacific macro strategy and emerging market research at BNP Paribas OVERSHOOT China s foreign exchange self-regulatory body said on Monday it would

resolutely fend off risks of the yuan overshooting and pledged to take action when needed to correct one-sided and pro-cyclical activities, according to a statement published by the PBOC China has in recent months stepped up its efforts to slow the pace of yuan declines by setting persistently strongerthan-expected midpoint fixings Earlier this month it announced it would increase the supply of dollars by lowering the amount of foreign exchange that banks must set aside Chinese authorities “are simply smoothening the cycle They want to avoid herding behaviour They want to avoid a scenario where the market feels that they might be losing control And so they re just using different administrative tools to smoothen price action, Mathur said

Sources told Reuters last month that China’s currency regulators asked some banks to reduce or postpone their purchases of U S dollars in order to slow the yuan s depreciation

Muslim youth beaten to death in Rajasthan’s Alwar days af ter communal tension

JAIPUR Ag e n c i e s

A 22-year-old Muslim man succumbed to injuries during treatment at a hospital in Indian city of Jaipur over a week after he was brutally assaulted following a scuffle between two groups from different communities that led to communal tension

The deceased Mohammad Wakeel was returning from his woodshop at night when he was mercilessly assaulted by a mob on September 8 as a result of the com-

munal tension reported on August 27 between the Meo Muslims and the members of the SC/ST communities, resulting in injuries to members of the latter community

According to eyewitnesses and villagers Wakeel was abducted by Purshottam Saini a BJP leader and his group of henchmen At Tijara Chowk he was nabbed by a group of hooligans led by Purushattam Saini and then taken to a jungle and assaulted mercilessly He was left injured grievously His family members subsequently took him to hospital,” said Sher Mohammed, an activist in Alwar who is following up the case during a

Facebook live The activist informed that the BJP leader filed a case under the SC/ST Act against some members of the Muslim community leading to the arrest of five persons

Five people from the Muslim community were also arrested in this regard This was legal procedure and it was fair enough On 30 August, a mahapanchayat was held over the incident People from the Meo community went to the mahapanchayat and apologized for the incident and asked them not to disturb the communal harmony,” said Sher

Effec tive investment, economic growth drive China’s economic recover y

BEIJING M i A n A b r A r

China has also taken a slew of measures to tackle challenges and stabilize foreign investment and private sector investment that underpin effective investment, major growth driver for China s economic recovery

In the latest move set to lift investors’ confidence the People’s Bank of China the central bank on Thursday announced that it would cut the reserve requirement ratio by 25 basis points starting on Friday to maintain ample liquidity and help consolidate economic recovery

As Western officials and media outlets mounted what appears to be a concerted campaign to paint a picture of the Chinese economy as being at the cusp of collapse, claims of slowing investment, one of the three drivers of China’s economic growth have also become ubiquitous in media reports However such claims only focus on certain indicators and ignore the overall picture of China s focus on effective investment in new emerging sectors to ensure long-term sustainable growth

While China’s fixed-asset in-

vestment has seen slower growth and private sector investment saw a decline – two of the factors most widely cited by foreign media to smear the Chinese economy – investment activities remain robust in key areas across the country At the recently-concluded China International Fair for Investment and Trade (CIFIT) in Xiamen, East China s Fujian Province, businesses from around the world, including the US the UK and Thailand passionately showcased their products and services drawing palpable enthusiasm from spectators who packed the exhibition halls All told, over 1,000 business groups and nearly 80,000 exhibitors from 106 countries and regions attended China’s major investment fair Deals were reached for 638 projects with a planned investment of 484 57 billion yuan ($66 58 billion), data showed on Thursday

Two days before the opening of CIFIT Xiamen held a ceremony for the groundbreaking or completion of 40 major projects with a combined investment of 71 4 billion yuan covering key areas such as new energy and information technology

ity and greater influence create conditions for the resumption of peace talks and make concrete efforts to help the two states of Palestine and Israel to coexist peacefully China believes that regional hot spots such as the Iranian nuclear issue and the issues of Syria, Sudan, Libya and Yemen need to be resolved through political means China supports Middle East countries in independently exploring development paths resolving regional security issues through solidarity and coordination, and maintaining lasting peace and security in the region, said the proposal

Wang Yiwei, director of the Institute of International Affairs at the Renmin University of China told the Global Times that the document is not only covering the ongoing hotspot issues and long-standing geopolitical crises, but also eyes the future The deep sea, polar regions, outer space, cyberspace and digital technology and artificial intelligence (AI) have become the new frontiers of global governance Faced with the new circumstances new areas and new challenges we need to follow the principles of peace, development, inclusiveness and shared governance, and take active steps to keep the rules governing new frontiers up to date with the times and fully reflective of developing countries’ opinions interests and aspirations The rights to participation stating their views and decision-making of developing countries should be fully safeguarded, said the proposal

Ram temple built on site of razed Babri mosque in India to open in Januar y

Such bustling scenes are ubiquitous in many cities across China

Earlier this month, at an investment promotion event for Beijing on the sidelines of the China International Fair for Trade in Services investment deals worth about 104 55 billion yuan covering such areas as modern services were inked on a single day This week, at a ceremony at the high-tech development park in Xi’an, Northwest China’s Shaanxi Province 31 projects in areas such as technological innovation and new consumption with a total investment of 38 2 billion yuan were signed These are just snapshots of the investment activities across China in recent months as the country emerges from the three-year pandemic Investment is often described as one of China s three economic growth drivers – the other two being consumption and exports Chinese officials and analysts strongly refuted such “inaccurate” narratives and maintained that investment in China remains solid and the focus on effective spending in key emerging sectors such as technological innovation, green development and new infrastructure will underpin sustainable growth

A grand temple of Lord Ram, worshipped by millions of Hindus, will open in January in northern India at a site believed to be his birthplace, fulfilling a promise from the ruling party in a location that was a flashpoint for Hindu-Muslim violence The site in the northern town of Ayodhya where the temple construction is nearing completion was bitterly contested for decades with both Hindus and Muslims laying claim to it India s majority Hindus say the site was the birthplace of Lord Ram, and was holy to them long before Muslim Mughals razed a temple at the spot and built the Babri mosque there in 1528 A Hindu mob destroyed the mosque in 1992 triggering riots that killed about 2 000 people across India most of them Muslims Building a Ram temple at the site has been a central, campaign theme of Prime Minister Narendra Modi s Hindu nationalist Bharatiya Janata Party (BJP) for more than three decades Hindu and Muslim groups have fought over ownership of the site through India’s courts In 2019 the Supreme Court handed over the land to Hindus and ordered allotment of a separate plot to Muslims Muslim groups were not happy with the verdict but said they would accept it with humility Nripendra Misra, chairman of the Shri Ramjanmabhoomi Temple Construction Committee, said that the ground floor of the temple will be ready in December and devotees will be allowed to pray after the idol of Lord Ram is moved there in January Modi has been invited for the conclusion of prayers by priests in late January which will mark the opening of the temple, said Misra, a retired bureaucrat who was Modi s principal secretary, or chief of staff until 2019, before moving to the independent temple construction panel “It will be good if the prime minister is present ” Misra said Indian engineering giant Larsen and Toubro (LART NS) is building the temple on a 2 67-acre (1 08 hectares) site inside a 70-acre (28 33 hectares) complex, Misra said, adding that the second and final phase would be completed in December 2025 The project is estimated to cost 15 billion rupees ($181 million) and is entirely funded by donations from 40 million resident Indians that totalled more than 30 billion rupees he said An estimated 100 000 devotees are expected to visit the temple daily in the first months he added BJP leaders and analysts have said that the opening of the temple is expected to boost the party s fortunes in general elections due by May 2024 when Modi will seek a third term

CORPORATE CORNER

In a strategic partnership with Atlas Honda Ltd for Riders, foodpanda hosts a Motorcycle Simulator Demo and Road Safety Session at its Karachi office This initiative aimed to bolster safety awareness among delivery riders, actively working to reduce accidents during duty, and promote a seamless traffic experience for all road users The event signifies a commitment to improving road safety and fostering responsible riding practices in the community PR

SLIC's proactive strategy paying off as indicated by strong performance in 1H-2023

KARACHI: State Life Insurance Corporation of Pakistan s (SLIC) growth momentum continues with progress already evident in its strong halfyearly January to June 2023 results Shoaib Javed Hussain, CEO of SLIC said, “State Life continues to deliver exceptional business results and we have achieved it once again for the first half of 2023 increasing our premium income by +27% compared to the same period in 2022 Insurance becomes even more important during challenging times and difficult circumstances, and behind these incredible results lie the true essence of our work, which is to provide security and protection to Pakistanis across all strata of society ” PR

S indh Excise, Taxation & Narcotics Control Depar tment joins PSW

ISLAMABAD: Pakistan Single Window (PSW) and the Sindh Excise Taxation & Narcotics Control (ET&NC) Department have signed a Memorandum of Understanding (MOU) following the integration of the Sindh ET&NC Department with the PSW Sindh ET&NC services such as collection of the Sindh Infrastructure Development Cess (SIDC), submission of applications/requests for SIDC exemption/waiver recording of Bank Guarantees and their release thereof can now all be availed through the PSW system Additionally PSW shall also enable Sindh ET & NC through integration with the Sindh ET&NC Motor Vehicle Registration system, to access and verify information pertaining to imported and auctioned vehicles at the time of registration PR

KE cracks down on power theft; lodges 196 FIRs

KARACHI: Amid the Government of Pakistan s directives and a nationwide focus on curbing power theft, K-Electric is also acting against power theft and lodged 196 FIRs in police stations across the city against theft of 2 million units and 123 million rupees 1 5 million of these 2 million units are accounted for by only 20 customers who have been charged with electricity theft These include illegal hydrants and generator mafias illegally stealing electricity and reselling to various areas Timely and swift action is critical to curb electricity theft Not only is this hindering the provision of uninterrupted supply to areas, but also hurting the national exchequer and contributing towards circular debt Penalizing this crime is essential for improving supply and protecting customers said Moonis Alvi CEO K-Electric We thank the Government of Sindh and law enforcement agencies for their support in ensuring that this crime does not go unpunished, thus paving the way to a progressive sector ” PR

Malnutrition early in life sets stage for poor growth, death, AKU researchers find

Better nutrition during pregnancy and childbearing years is critical in protecting children in their most vulnerable first 1 000 days study finds Malnutrition affects babies much earlier than thought and more nutritional support is needed for mothers to-be and their newborns to prevent disease, impaired cognition and death, according to new findings by Prof Zulfiqar Bhutta, founding director of the Institute for Global Health and Development and the Centre of Excellence in Women and Child Health (COE-WCH) at the Aga Khan University In a trio of papers published by the Nature s Ki Child Growth Consortium, which comprises of researchers at UC San Francisco and UC Berkeley, Professor Bhutta examines how malnutrition affects growth in the first two years of life, underscoring a devastating reality for millions of children in the Global South particularly Asia Stunting or being too short for their age indicates chronic malnutrition while wasting measures acute malnutrition The global health community uses both indications to monitor progress toward ending malnutrition PR

Mastercard, Deliver y Hero par tnership fuels innovative consumer experience in MENA

KARACHI: Mastercard s strategic partnership with Delivery Hero, the world s leading local delivery platform, continues to fuel the growth of the ecommerce in the Middle East and North Africa (MENA) region Since announcing a large-scale collaboration aimed at digitalizing Delivery Hero’s payment chain in 2020 the two companies have seen the number of transactions through its platforms more than double Over

PAKISTAN, CHINA TO STEP UP ARTIFICIAL INTELLIGENCE COOPERATION

AI, a core driving force in the new wave of technological revolution and industrial transformation has the potential to propel social productivity to new heights

As a late starter, Chinese AI development has achieved significant milestones in recent years

After receiving several requirements from Pakistani companies to cooperate with Chinese companies in AI field China-Pakistan Cooperation Center on Technical Standardization held a ChinaPakistan Artificial Intelligence Industry Cooperation Matchmaking meeting on September 13th according to Gwadar Pro

On the meeting 5 Chinese companies and 5 Pakistani companies introduced their business and requirements

They showed their latest technologies including digital human, chatbot and AI transformation services “Our institute and the Institute of Quality and Technology Management(IQTM) of University of the Punjab co-established the ChinaPakistan Cooperation Center on Technical Standardization in 2020

Since then we have closely cooperated in multiple fields including traditional Chinese medicine food and information technology etc said Huang hao, president of Chengdu institute of Standardization He noted that this meeting is the first of five IT subsector meetings that the center plans to arrange in the next few months

Dr Shamshad deliberates measures to digitize national economy a t FBR headquarters

ISLAMABAD:

Caretaker Federal Minister for Finance Revenue Economic Affairs And Privatization Ms Shamshad Akhtar visited Federal Board of Revenue Headquarters today and chaired a meeting to deliberate measures to automate FBR s operations and to further enhance tax-to-GDP ratio Caretaker Federal Minister for IT & Telecommunications Dr Umar Saif was present in the meeting which was also attended by Chairman FBR Malik Amjed Zubair Tiwana Members of the Board and senior officials from Ministry of Finance

IT Division and Revenue Division Chairman FBR briefed the Minister about measures being taken to automate and strengthen the revenue collection mechanism of FBR During the meeting, the caretaker Finance Minister emphasised PR

CDA in collaboration with admin swoops on illegal constructions

ISLAMABAD: The Building Control Section of the Capital Development Authority (CDA) along with the Enforcement Directorate on Thursday with the assistance of the District Administration and Islamabad Police sealed several buildings being constructed along Expressway in violation of building regulations According to the details five buildings which were being constructed without the approval of CDA have been sealed and notices have been issued to the owners during an operation conducted along Ecpressway Moreover, notices have also been served to 13 owners of buildings in F-17, sector comprising upon private scoieties, for non-conforming use On this occasion, Cda has reiterated that the anti-encroachment campaign will continue continuously to make Islamabad an encroachment-free city It should be noted that for the past several months CDA has been engaged conducting operations on encroachments and illegal constructions and violation of building bylaws in Islamabad PR

C ASS hosts seminar on ‘Indian Elec toral Politics: Unpacking India’s Pre-Poll Dynamics & Implications for Region

The Centre for Aerospace & Security Studies (CASS), Islamabad, successfully concluded a seminar on ‘Indian Electoral Politics: Unpacking India s Pre-Poll Dynamics & Implications for the Region Distinguished speakers included Ambassador Ashraf Jehangir Qazi Pakistan s Former High Commissioner to India; Air Marshal Waseem ud Din, HI(M), SBt (Retd), Former Director, Centre for Aerospace & Security Studies (CASS) Islamabad; and Dr Muhammad Mujeeb

Afzal Assistant Professor at Quaid-i-Azam

University Air Marshal Ashfaque Arain (Retd)

Advisor to CAS on CASS Affairs delivered the Concluding Remarks; while Air Marshal Farhat

Hussain Khan, Advisor on Aviation to Caretaker Prime Minister of Pakistan & President CASS, delivered the Vote of Thanks The speakers examined India’s political climate Modi’s reelection bid and its impact on regional stability The discussions emphasised the importance of a multifaceted approach for Pakistan highlighting the need for strategic diplomacy, robust military preparedness, and an empowered media landscape Panellists converged on the view that given India’s potential for leveraging security issues for domestic electoral gains Pakistan must remain vigilant and proactive to safeguard its national interests It was pointed out that while a military provocation by India might bolster the BJP s re-election bid, it would spell disaster for ordinary Indians as Pakistan would respond with impunity PR

“I noticed that in Pakistan there’re more service companies that provide AI services while in China there are more AI products provider The exchange could help us know the requirements of each other and what can be provided

This is one aspect of potential PakChina cooperation in AI sector ” said representative from Tkxel company one of

Standard Chartered Bank has entered into a distribution agreement with Kashf Foundation The agreement was signed in presence of Saadya Riaz Head CPBB Standard Chartered Bank Roshaneh Zafar, Managing Director, Kashf Foundation and Maheen Rahman, CEO InfraZamin at a ceremony in Lahore PR

Pakistani participants “Another potential is that we can find a way to develop something new together Research and development center could be established jointly, so that Chinse companies and Pakistani companis could work and make progress in this field together “Success of our initiative depends on how quickly these ten companies reach business to business agreements for mutual benefit Technical cooperation and using available skills in most efficient way is the way forward Companies can interact with each other independently after the meeting Today’s session may be the beginning of new era of technological cooperation between China and Pakistan Dr Muhammad Usman Awan professor of IQTM in University of the Punjab, addressed in the meeting Mr Yu Jingyang, deputy secretarygeneral of Chengdu software industry association also attended the session

As 21st China International Software Cooperation Conference one of the most prestigious and influential events of software industry in China, will be held in Chengdu in December, he invited all attendees to participate in the fair to explore more cooperation potentials

Americ an Business Council celebrates Pakistan’s first ESG Excellence Awards

Left to right Rashid Jamal Regional Head Asia at Solus Labs Faizan Laghari Director National Incubation Centre, Dr Muhammad Farukh, Associate Professor, FAST NUCES, Tehreem Fatima, Co-founder, Metafash, Ayesha, Co founder, Metafash Kanza Zehra Co founder Metafash PR

Exper ts organize a dialogue to address SDGs challenges and oppor tunities

ISLAMABAD: "Growth is important, but it must be sustainable and inclusive” says Ali Kemal, Chief SDGs Ministry of Planning Development & Special Initiative He expressed his views during his speech at the National People s Assembly that was organized by Awaz Foundation Pakistan GCAP and Pakistan Development Alliance He further expressed that this assembly provides a platform for diverse voices to unite and address the challenges and opportunities presented by the SDGs fostering not just growth but sustainable and equitable growth for Pakistan "This event aimed at fostering dialogue and engagement surrounding the Sustainable Development Goals (SDGs), was also attended by reps of Ujala Network, Child Rights Movement (CRM), and many more, including a diverse range of stakeholders These include civil society organizations (CSOs), NGOs, CBOs political party representatives media academia students and advocates for marginalized groups including women s rights sexual minorities and human rights defenders PR

PSX marks launch of JS Global Banking S ec tor ETF

KARACHI: A gong ceremony was held at Pakistan Stock Exchange (PSX) to formally launch and celebrate the listing of JS Global Banking Sector Exchange Traded Fund (JSGBETF) The commencement of trading of units of JSGBETF took place on September 11 2023 This is the first ETF to be launched by a brokerage house in Pakistan under the SECP s Sandbox Guidelines 2019 and the eighth ETF to be listed on Pakistan Stock Exchange JS Global Banking Sector ETF is a sector specific ETF which will track a total-return, equally weighted index, JS Global Banking Sector Index (JSGBKTI) JSGBKTI will be replicating stock selection criteria of PSX’s Banking Tradable Index (BKTI) JSGBETF is a sector specific ETF that tracks a basket of stocks within the banking sector It currently consists of eight (8) banking stocks that represent approximately 70 percent of the listed banking sector or approximately 80 percent on free float market cap Present at the gong ceremony were the Chief Guest Chairman SECP Mr Akif Saeed; CEO JS Bank Limited Mr Basir Shamsie; CEO JS Global Capital Limited Mr Imtiaz Gadar and senior management of the SECP JS Bank and JS Global PR

KARACHI: The American Business Council (ABC) in Pakistan announced the 1st Annual Environmental Social and Governance (ESG) Awards ceremony to commemorate companies that have made strides in sustainability and social impact The winners included Coca Cola Pakistan (Environment - Nature Saviour), Pepsico (Environment - Response to Climate Change), PMI (Social), KFC (Social) and McDonald’s (Environment) With more than 60 member companies that are US-backed ABC's network contributes about $1 billion in taxes annually and employs over 1 million Pakistanis This event was attended by 100+ of the leading multinational CEOs business leaders government officers, and climate change experts Senator Fawzia Arshad was the chief guest She said, “The alarming rise of climate disasters in our country can only be mitigated if the private sector and the public sector work together This is not a one institution job Present at the award ceremony were President of the ABC Jamshed Safdar ABC s Chair for ESG committee Fahad Ashraf, USAID Senior Partnerships Adviser to the Mission Kanwal Bokharey, previous chairman of Karachi Port Trust, Tariq Huda, Amber Rahim Shamsi, Director at IBA university’s CEJ office former Federal Minister for Climate Change Malik Amin Aslam and Economic Unit Chief US Counsel General Leah Severino APP

CDA Chief Commissioner takes par t in plantation drive

Chairman Capital Development Authority (CDA) and Chief Commissioner Islamabad Captain (R) Anwar ul Haq on Thursday participated in Tree Plantation campiagn carried out at Green belt of Sector D-12/2 The tree plantation campaign was carried out in collaboration of Marri Petroleum Students of School being run by Saya Foundation planted plants on this occasion During this campaign 2000 plants will be planted on the green belt of Sector D-12/2 including Pelikan, Arjun and Sukh Chain It is pertinent to mention here that 8 to 10 feet tall grown plants are being planted to ensure their survival Children of Saya School participated in this plantation campaign along with the management of Mari Petroleum On this occasion Chairman Capital Development Authority (CDA) Captain (R) Anwar-ul-Haq said that measures are being taken with the cooperation of private sector to improve the environment of the city PR

EU Commission President names landmark methanol vessel as ‘L aura Mærsk

’

Copenhagen Denmark – The world s first methanol-enabled container vessel will carry the name Laura Mærsk the EU Commission President Ursula von der Leyen revealed at a ceremony in Copenhagen on Thursday The name was revealed in the Port of Copenhagen on Thursday during a ceremony when the ship’s godmother President von der Leyen christened the vessel by breaking a champagne bottle over the bow Besides the godmother Maersk Chair Robert Uggla and Maersk Chief Executive Officer Vincent Clerc also spoke at the ceremony Laura Maersk is a historic milestone for shipping across the globe It shows the entrepreneurial spirit that has characterised Maersk since the founding of the company However more importantly this vessel is a very real proof point that when we as an industry unite through determined efforts and partnerships a tangible and optimistic path toward a sustainable future emerges This new green vessel is the breakthrough we needed, but we still have a long way to go before we make it all the way to zero " CEO Vincent Clerc says PR

IMRAN, QURESHI’S BAIL PLEAS REJECTED, ASAD UMAR’S CONFIRMED IN CYPHER CASE

THE Special Court constituted to hear cases under the Official Secrets Act on Thursday rejected the bail petitions of former prime minister Imran Khan and former foreign minister Shah Mahmood Qureshi in the cypher case

On the other hand, the court confirmed the pre-arrest bail granted to former federal minister and PTI leader Asad Umar in the same case

The cypher case pertains to a diplomatic cable which reportedly went missing from former prime minister Imran Khan s possession The PTI alleges that it contained a threat from the United States to oust Imran from power Imran and former foreign minister Shah Mahmood Qureshi have been arrested in the case while Umar and former principal secretary Azam Khan s involvement will be determined in the course of the investigation

On Thursday, Imran’s lawyer Salman Safdar Qureshi’s representatives Babar Awan Ali Bukhari and Shoaib Shaheen and Asad Umar through his counsel Awan reached the Federal Judicial Complex in Islamabad to request bail for their respective clients Judge Abual Hasnat Zulqarnain, who is also conducting the special court hearings decided to take up the bail requests separately

Shortly afterward, PTI’s legal affairs spokesperson lawyer Naeem Haider Panjhutha confirmed that Umar s bail had been confirmed in a post on X Asad Umar s bail was confirmed on the prosecutor s statement that there is no need for him, there is no material against him; the hearing on Imran Khan’s case continues ” he said Judge Zulqarnain reserved his decision on Imran and Qureshi s pleas after the defence and prosecution completed their arguments

Later in the afternoon, Panjhutha said on X that the post-arrest bail pleas were dismissed “Unfortunate justice system ” he added On August 22 the same court headed by Judge Abual Hasnat Zulqarnain had granted pre-arrest bail to Umar against a

SC returns PTI plea seeking elections in 90 days with objections

ISLAMABAD

The Supreme Court (SC) on Thursday returned Pakistan Tehreek-e-Insaf ’s (PTI) petition seeking general elections within 90 days after raising objections According to the Registrar office objections the petitioner did not approach the forum concerned before filing the plea besides it has not mentioned how it affects his basic rights

On August 28, Pakistan Tehreek-e-Insaf (PTI) moved Supreme Court (SC) against delay in general elections As per details, PTI filed a plea in the Supreme Court against the election delay The plea urged the apex court to direct the president to announce the election date within 90 days

The plea stated that Supreme Could should also direct the ECP to issue the schedule for upcoming general elections The top court was urged to declare the CCI decision regarding the delimitation and the census 2023 null and void It is pertinent to mention here that the ECP decided to hold general elections in the second week of February 2024

PPP serves show cause notice to estranged CEC member Latif Khosa

ISLAMABAD

S TA F F R E P O R T

The Pakistan People’s Party (PPP) has issued a show cause notice to Sardar Latif Khosa its Central Executive Committee (CEC) member and senior lawyer on Thursday Latif Khosa and Aitzaz Ahsan, have been at odds with the party leadership over their support to former prime minister Imran Khan in his legal troubles

Earlier, both senior lawyers were invited to attend the CEC meeting in Lahore on September 14 (today) Latif Khosa has been a member of the People s Party s CEC but without informing the party assisting the head of another party in legal cases who has been convicted under corruption charges, according to the show cause notice “You have criticized the state over cipher in lawyers’ convention ” “Deliver your reply of this show cause notice within 7 days in case of no-reply action will be taken as per the rules and your basic membership of the party can be terminated Khosa has been warned The PPP s secretary general Nayyar Bukhari has issued the show cause notice to Latif Khosa Latif Khosa and Aitzaz Ahsan were also invited to the previous CEC meeting in Karachi as well While Ahsan attended that sitting Khosa chose to abstain from it Sources said that Khosa was also served a show cause notice earlier for giving a statement in favour of the PTI chairman

Former president Asif Ali Zardari and Bilawal Bhutto Zardari will head the PPP central executive committee meeting at 3:00 PM in Bilawal House in Lahore today Elections and the party’s position in central Punjab will be part of the agenda of the Lahore meeting

IESCO decides action against electricit y defaulters

cording to journalist Saleem Safi, the cypher is supposed to be yellow in colour to which Umar replied saying: He (Saleem) is a big journalist and would know better When asked if he is about to become the PTI chief, Umar said: There s no chance of that ” T

surety bond of Rs100,000 Umar ’s counsel Advocate Babar Awan had argued that the case was politically motivated and there was no evidence against his client He had claimed that the FIA implicated his client in the cypher case to blackmail him, adding that Umar was willing to join the investigation as and when required Outside the court today Umar briefly responded to reporters questions as he made his way to his vehicle A reporter asked him whether the document the purported cypher that then-PM Imran retrieved from his pocket in a public gathering in March 27, 2022 was the real thing Only the [former] prime minister can tell you that Umar responded Another reporter mentioned that ac-

E: According to the FIR a case has been registered against former prime minister Imran Khan and Qureshi under sections 5 and 9 of the Official Secrets Act 1923 read with Section 34 of the Pakistan Penal Code (PPC) They have been accused of wrongful communication/use of official secret information and illegal retention of a cypher telegram (an official secret document) with mala fide intention whereas the roles of former SPM Muhammad Azam Khan, former federal minister Asad Umar, and other involved associates will be ascertained during the course of the investigations It said former PM Imran former FM Qureshi and their other associates are involved in communication of information contained in secret classified document (cypher telegram received from Parep Washington dated March 7, 2022 to the Secretary Ministry of Foreign Affairs) to the unauthorised persons (i e public at large) by twisting facts to achieve their ulterior motives and personal gains in a manner prejudicial to the interests of state security

Customs peshawar lowers import value of afghan coal from $140 to $95 pMt

g REVALUATION TO HELP CHANGE MARKET CONDITION FOR CRUCIAL INDUSTRIAL RAW MATERIAL

The Directorate of Customs Valuation Peshawar has announced a substantial decrease in the import value of Afghan-origin coal from $140 per metric ton (PMT) to a minimum of $95 PMT when imported into Pakistan via land borders Customs stations of Khyber Pakhtunkhwa (KP)

This decision follows consultations with local importers and traders of Afghani coal in KP and is a response to recent fluctuations in the international coal market The valuation advice shall remain valid for a period of three months only from its date of issuance

However as agreed with trade this advice could be revised even before the lapse of such a time period based on the fresh value evidence of coal, if any Pakistani coal importers had appealed to the directorate, citing a considerable decrease in the value of Afghan-origin coal prompting calls for a downward revision in import valuation

Coal plays a pivotal role as an industrial raw material in Pakistan making it crucial to align its cus-

toms value with current market dynamics The valuation advice issued in 2022 had set the Customs Value of Afghan-origin coal at $0 140 per KG ($140 PMT C&F) which has now been reevaluated

Trade representatives emphasized that Afghanorigin coal prices had seen a significant decrease recently They also proposed that any revised value should be in effect for a limited period, allowing for future adjustments based on evolving price trends in Afghanistan

Following a comprehensive assessment of all relevant factors the Directorate of Customs Valuation Peshawar has determined that the import value of Afghan-origin coal should be a minimum of $0 095 per Kg ($95 PMT) with immediate effect

This valuation will remain in place until any further revisions are made Customs Collectorates have been instructed to enforce this new valuation rigorously ensuring that no imports or clearances occur at values lower than the newly determined benchmark However, import declarations indicating values higher than the prescribed amount will still be accepted

Jui-F’s Hafiz Hamdullah among 11 injured in M astung blast

At least 11 people including Jamiat Ulema-i-Islam-Fazl (JUI-F) leader Hafiz Hamdullah, were injured in a blast in in district Mastung of Balochistan on Thursday

Mastung Assistant Commissioner Attaul Muneem informed that 11 people had been injured in the incident so far, adding that they were shifted to Quetta for medical treatment Footage broadcast on television showed a bloodied Hamdullah being supported by two gunmen as he spoke

The Assistant Commissioner said the blast took place near a vehicle He said the blast resulted in injuries to 11 people including the JUI-F leader, saying the injured were shifted to Quetta for treatment

Speaking to the media after the blast

JUI-F spokesperson Aslam

Ghauri said that Hamdullah was injured but not critically

He is okay

He is injured but the situation is not critical [ ] the gunmen and the others accompanying him also sustained minor injuries but they are okay There is

48 58 and 107 of the Constitution The petition sought to declare the amendment to the Election Act unconstitutional It also requested for an order to declare unconstitutional the move to dissolve the assembly before the expiry of its term with the intention to delay the elections On Wednesday President Dr Arif Alvi wrote a letter to the chief election commissioner, advising him to hold the general elections on November 6 The letter states that the president of Pak-

no serious issue at the moment

He said that Hamdullah and the others were travelling from Quetta to Kalat, adding that the incident occurred after they crossed Mastung

We still do not know if it was a suicide blast or a planted bomb he added According to the information I have received, Hamdullah sahib and two persons are injured All are okay and the matter is not serious ” Ghauri said that the injured had been shifted to a hospital in Quetta PM flays ‘dastardly attack’

P r i m e M i n i s t e r A n w a a r u l H a q K a k a r s t r o n g l y c o n d e m n e d the “dastardly attack” and prayed for the speedy recovery of the injured persons

He also stressed that the entire nation was standing united in the face of terrorism Bugti condemns attack on JUI leader

Condemning the attack on Jamiat Ulema-e-Islam leader in Mastung Interim Interior Minister Sarfraz Bugti prayed for the quick recovery of the JUI leader and others injured in the blast

He said, the entire nation is

Various ministries divisions and government institutions have defaulted on electricity bills worth billions of Pak rupees and Islamabad Electric Supply Company (IESCO) has released the details of defaulting government institutions of electricity arrears and decided to take action against the defaulters

According to the document various ministries federal and provincial institutions are defaulters of electricity bills worth Rs 71 billion 51 crore and 90 lakh while Rs 3140 million worth dues are pending with defense institutions and the government of Azad Kashmir is defaulter of Rs 60 billion, 70 crore and 60 lakh worth electricity bills Similarly, Prime Minister ’s Secretariat is defaulter of electricity bills worth Rs 62 million while Rs 71 million worth electricity bills are pending with the Chairman Senate and the outstanding amount pending with Chief Justice of Pakistan is Rs 7 million and Rs 119 million worth payment is pending with the Parliament Lodges

According to the document, the hospitals under the management of the federal government are in default of Rs 371 million while Islamabad High Court owes Rs 10 million in electricity bills Pak Secretariat Rs 873 million Establishment Division Rs 4 million Cabinet Secretariat Rs 99 million federal police Rs 170 million, FBR/CBR Rs 37 million and Ministry of Interior Rs 112 million

It is also learnt from the document that Health Ministry is defaulter of Rs 59 million foreign affairs ministry Rs 9 million Science & Technology Ministry Rs 7 million Education Ministry Rs 52 million Haj and Auqaf Ministry Rs 23 million

Ministry of Railways Rs 157 million, Ministry of Food and Agriculture Rs 7 million, while Ministry of Culture & Sports Rs 67 million, Ministry of Local Government Rs 21 million, Ministry of Planning and Population Rs 4 million Ministry of Planning & Development Rs 11 million Ministry of Environment Rs and URB Rs 23 million Central Excise and Land Custom Rs 8 million Immigration and Passport Rs 6 million, Income Tax Department Rs 5 million, Pakistan Post Office Rs 10 million, Meteorological Department Rs 8 million, Statistic Division Rs 5 million Survey of Pakistan Rs 5 million Pakistan PWD Rs 221 and D G Special Education Rs 14 million IESCO in a statement said that in light of directives passed by Government of Pakistan and Ministry of Energy IESCO has decided to take action against defaulters under which a list of electricity defaulters of government and semi-government institutions has been compiled

PM Kakar to highlight Kashmir issue in address at UNGA on Sept 22: FO

ISLAMABAD S TA F F R E P O R T

Caretaker Prime Minister Anwaar-ul-Haq Kakar will address the annual United Nations General Assembly (UNGA) session on September 22 2023 (Friday)

united in war against terrorism and will never allow terrorist to succeed in their nefarious designs “Terrorists want to spread anarchy in the country ” said the minister adding that the government will not spare the enemies of the country s development and peace

Meanwhile, Caretaker Information Minister Murtaza Solangi said targeting innocent citizens and political personalities was a cowardly act and elements involved in terrorism do not deserve any leniency

He highlighted that the whole nation stands united against this menace Former president Asif Ali Zardari also condemned the incident and prayed for the injured Terrorists and facilitators involved in terrorism should be brought under the law he said

Caretaker Sindh Chief Minister retired Justice Maqbool Baqar also condemned the blast and expressed grief over the people injured in the incident “The nation stands united against terrorism he said in a statement praying for the swift recovery of the injured

istan dissolved the National Assembly on August 9 on the advice of the prime minister

The general elections must be held on the 89th

Foreign Office spokesperson Mumtaz Zahra Baloch speaking at the weekly news briefing here on Thursday said that the caretaker premier would be accompanied by interim Foreign Minister Jalil Abbas Jilani during the visit to New York She said the Anwaar-ul-Haq Kakar would outline Pakistan’s perspective on a range of regional and global issues of concern including Jammu and Kashmir dispute which was amongst the longstanding unresolved items on the UN Agenda He would elaborate on the significant measures being taken by the caretaker government to consolidate Pakistan s economic recovery and efforts to mobilize domestic and external investments, the spokesperson added Mumtaz Zahra Baloch said the interim prime minister would also participate in a summit on the sustainable development goals and other high level meetings to be organised under the auspices of UNGA She said these would afford valuable platforms to deliberate on effective measures required at the global level to addressing the most pressing economic and development challenges confronting the global South in the wake of Covid-19 geopolitical contestations and climate change The spokesperson said that on the sidelines of the UNGA the caretaker PM would also hold bilateral meetings with counterparts from various countries as well as heads of international organisations, philanthropic organisations and corporate leaders Responding to a question, the spokesperson said Jammu and Kashmir was an internationally recognised disputed territory whose final disposition was to be made in accordance with the relevant UNSC resolutions and aspirations of Kashmiri people She said it was also an established fact that Azad Jammu and Kashmir and Gilgit Baltistan shown in an Indian map are under Pakistan s control and part of its official political map, pending the final disposition of the Jammu and Kashmir dispute In that backdrop she said that any map showing the entire state of Jammu and Kashmir as part of India was legally untenable and factually incorrect