Epaper_23-09-21 ISB

INDIA’S ‘NETWORK OF EXTRA-TERRITORIAL KILLINGS’ HAS GONE GLOBAL: PAKISTAN

Gov t raises Rs2.4tr against target of Rs2.3tr as yields for all tenures decline

s e r i e s o f t a r g e t e d k i l l i n g s , e s p i o n a g e b y R A W g S a y s r e c k l e s s , i r r e s p o n s i b l e a c t c a l l i n t o q u e s t i o n I n d i a ’ s r e l i a b i l i t y a s c r e d i b l e i n t ’ l p a r t n e r

ISLAMABAD S ta f f R e p o R t

FOREIGN Office (FO) spokesperson Mumtaz Zahra Baloch said on Wednesday that Canadian accusation of Indian involvement in a separatist Sikh leader s killing on its soil showed New Delhi s network of extra-territorial killings had gone global, state broadcaster Radio Pakistan reported Speaking during a press briefing in Islamabad the FO spokesperson highlighted that the Indian intelligence agency, Research and Analysis Wing (RAW), had been actively involved in abductions and assassinations in South Asia” the Radio Pakistan report said

It quoted Baloch as saying that Pakistan had remained a target of a series of targeted killings and espionage by RAW

In December last year, Pakistan released a comprehensive dossier providing concrete and irrefutable evidence of

India s involvement in the Lahore attack of June 2021 The attack was planned and executed by Indian intelligence, she said, adding that in 2016, a high-ranking Indian military officer Kulbhushan Jadhav confessed to his involvement in directing financing and executing terror and sabotage in Pakistan Canada s allegation centring on the killing of Sikh separatist leader Hardeep

Singh Nijjar in June in Surrey was made on Monday with Ottawa expelling India s top intelligence agent over the matter Nijjar supported a Sikh homeland in the form of an independent Khalistani state and was designated by India as a terrorist in July 2020 He had denied those charges according to the World Sikh Organisation of Canada, a nonprofit

PM urges global suppor t for developing nations on climate ambitions

UNITED NATIONS

S ta f f R e p o R t

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday urged the world to extend financial and technical support to developing countries like Pakistan to help them achieve ambitions on climate change The prime minister addressing the Climate Ambition Summit 2023 on the sidelines of the 78th session of the United Nations General Assembly urged all nations to raise their climate ambitions, regardless of their statuses and geographical locations

He told the international community that the adverse impact of climate change continued to rise in frequency and intensity disproportionately affecting developing countries Pakistan is a prime example

Despite contributing less than one percent to global warming, we are among the top ten vulnerable countries The unprecedented floods of last year illustrated this vulnerability but these may just be the tip of the iceberg unless we arrest this global warming ” he remarked The prime minister thanked the United Nations Secretary-General Antonio Guterres for active solidarity and mobilization of global support after the floods He said due to its well-established climate vulnerability, the adaptation was a critical priority for Pakistan

ISLAMABAD

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The regional financial institution, in its report released on Wednesday, underscored the significance of Pakistan’s commitment to an economic adjustment programme until April 2024 which is crucial for reestablishing macroeconomic stability and facilitating the gradual resurgence of economic growth

According to the Asian Development Outlook (ADO) for September 2023, Pakistan s gross domestic product (GDP) growth is expected to experience a modest recovery increasing from 0 3% in FY2023 to 1 9% in FY2024 although inflationary pressures are expected to persist However significant downside risks to the outlook remain including global price shocks and slower global growth The ADB also anticipates a decrease in Pakistan s inflation trends to 25% in FY2024 from the elevated 29 2% experienced in FY2023 in the wake of base-year effects setting in normalisation of food supply and a moderation in inflation expectations

However sharp increases in energy tariffs under the economic adjustment programme and the continued weakening of the rupee will keep inflationary pressures elevated, it added Elections, reforms to boost confidence in Pakistan’s economy: ADB

According to the Asian Development Bank (ADB) the gross domestic product (GDP) growth of Pakistan is expected to experience a modest recovery reaching 1 9% in the fiscal year 2024 (spanning from July 1, 2023, to June 30, 2024), marking an improvement from the meagre 0 3% growth recorded in FY2023

This anticipated recovery will come amidst the persistence of increased price pressures and there remain

organisation that says it defends the interests of Canadian Sikhs Canada said it was actively pursuing credible allegations linking Indian government agents to the murder of the Sikh separatist leader

Meanwhile, PM Justin Trudeau said in an emergency statement to the House of Commons that any involvement of a foreign government in the killing of a Canadian citizen was an unacceptable violation of our sovereignty

He has also demanded that India treat with utmost seriousness the bombshell revelation of its probe into the murder

In response India expelled on Tuesday a Canadian diplomat with five days notice to leave the country

New Delhi also dismissed the Canadian accusation as absurd and motivated and urged it instead to take legal action against anti-Indian elements operating from its soil FO spokesperson Mumtaz Zahra Baloch termed “India’s assassination of a Canadian national on Canadian soil a clear violation of international law and the UN principle of state sovereignty , according to the report “It is also a reckless and irresponsible act that calls into question India’s reliability as a credible international partner and its claims for enhanced global responsibilities she added

The State Bank of Pakistan (SBP) raised Rs 2 369 trillion in a treasury bill (T-bill) auction held on Wednesday against a target of Rs 2 250 trillion

Participation remained huge with SBP data showing bids totaling Rs 4 273 trillion were received

This is against debt maturity of Rs 2 43 trillion Tenders for the sale of three-month six-month and 12-month T-bills were invited by SBP through primary dealers on September 20 for settlement on September 21 Bids for the shortest-term bill amounted to Rs 3 855 trillion, while those for the six-month and 12-month tenures totaled Rs 364 billion and Rs 358 billion, respectively According to the auction results shared by the SBP the central bank was able to raise Rs 2 355 trillion through the three-month T-bills and Rs 6 billion and Rs 8 billion through the six-month and 12month T-bills Yields of all tenures declined from the previous auction held on September 6, when it appeared the market was expecting the policy rate to be hiked by around 200 basis points (bps)

significant downside risks to this outlook, primarily stemming from potential global price shocks and the potential for a slowdown in economic growth around the world ADB Country Director for Pakistan Yong Ye said that the country s economic prospects are closely tied to the steadfast and consistent implementation of policy reforms to stabilize the economy and rebuild fiscal and external buffers Greater fiscal discipline, a market-determined exchange rate, and speedier progress on reforms in the energy sector and state-owned enterprises are key to reviving economic growth and protecting social and development spending he added Pakistan s economy in FY2023 has faced a series of challenges, including severe floods, global price shocks, and political instability, collectively leading to weakened economic growth and an increase in inflation

C O N T I N U E D O N PA G E 02 g S a y s Pa k i s t a n a d o p t e d f i r s t - e v e r N a t i o n a l A d a p t a t i o n P l a n t o b u i l d c l i m a t e r e s i l i e n c e C O N T I N U E D O N PA G E 03 g Pa r t i c i p a t i o n i n a u c t i o n w a s h u g e a s b i d s t o t a l i n g R s 4 6 t r i l l i o n w e r e r e c e i v e d

According to the ADO the implementation of the economic adjustment programme and a smooth general election in FY2024 are expected to boost confidence while easing import controls is likely to support investment, the ADB said Favourable weather conditions coupled with government initiatives such as distributing free seeds, offering subsidised credit, and providing fertilisers are projected to bolster the recovery of the agricultural sector ” the report mentioned adding that this will have a positive spillover effect on the industrial sector which will benefit from improved access to essential imports

However in a surprising move the central bank s Monetary Policy Committee in a meeting on September 14 decided to maintain the policy rate at 22 percent According to today s auction results, the cut-off yield for the three-month T-bills was 22 789 percent, down 171 bps from the yield of 24 499 percent in the last auction Similarly the yields for six-month and 12-month T-bills were 22 8 percent and 22 9 percent respectively These showed a decline of 199 bps and 217 bps compared to the cut-off yields for the September 6 auction How do T-bill auctions work?

T- b i l l s a r e s h o r t - t e r m g o v e r n m e n t s e c u r i t i e s t h a t a r e i s s u e d b y t h e g o v e r n m e n t o f P a k i s t a n a n d d i s t r i b u t e d i n t h e p r i m a r y a n d s e c o n d a r y m a r k e t s b y t h e S B P T h e s e h i g h l y l i q u i d g o v e r nm e n t s e c u r i t i e s h a v e s o v e r e i g n g u a r a n t e e s a n d a f i x e d r a t e o f r e t u r n , w h i c h i s r e f e r r e d t o a s a y i e l d T- b i l l s a r e a t o o l f o r r a i s i n g s h o r t - t e r m c a s h b y g o v e r n m e n t s B a n k s a r e a l l o w e d t o h o l d t h i s s e c u r i t y i n a n I n v e s t o r P o r t f o l i o o f S e c u r it i e s ( I P S ) a c c o u n t f o r t h e i r c u s t o m e r s I n v e s t o r s c a n b u y t h e s e s e c u r i t i e s i n a c o m p e t i t i v e a u c t i o n i n t h e s e c o n d a r y m a r k e t , o r a n o n - c o m p e t i t i v e a u c t i o n i n t h e p r i m a r y m a r k e t O n t h e d a y o f t h e a u c t i o n , p r i m a r y d e a l e r s ( b a n k s a n d b r o k e r a g e h o u s e s ) o ff e r b i d s f o r T- b i l l s w i t h a c e r t a i n y i e l d T h i s y i e l d i s d e t e r m i n e d b y p o l i c y r a t e s m a r k e t s e n t i m e n t a n d f u t u r e e x p e c t a t i o n s A c e r t a i n c u to ff y i e l d i s a n n o u n c e d t h a t r e n d e r s a l l t h e b i d s b e l o w t h a t r a t e a s a c c e p t e d T h e d e a l e r p a y s t h e S B P a d i s c o u n t e d a m o u n t f o r t h e b i l l , w h i c h i s r e t u r n e d i n f u l l a t m a t u r i t y f a c t o r i n g i n t h e y i e l d o f t h e T- b i l l s

N AWA Z S H A R I F P R E PA R E D T O R ET U R N S O O N , S AY S M A R YA M N AWA Z

LAHORE S ta f f R e p o R t

SE N I O R Vice President and Chief Organiser of Pakistan Muslim League-N (PML-N) has said that the entire nation has pinned all their hopes on the true and sincere leader Nawaz Sharif prepared to return to the country soon Addressing an MSF ceremony here on Wednesday she said that voice of the party leader has reached every nuke and corner and it was matter of satisfaction Maryam Nawaz expressed his pleasure of huge gathering of the children on the occasion She said during the Musharraf era, her father was kept in jail and her mother stepped out “This path was not easy for me either I have spent five months in the death cell Attended about 200 summons and was arrested in front of my father in Lahore

BOP announces

Pakistan’s largest Hackathon ‘Sprint Pakistan’

LAHORE: The Bank of Punjab (BOP) hosted a launch ceremony to unveil details for their hyped Pakistan s largest hackathon Sprint Pakistan –Powered by digiBOP Empowering Innovation for Global Impact in collaboration with its executing partner, (NICL) at LUMS who will be involving NICs across these cities

This ceremony officially kicks off a series of hackathons in 7 major cities of Pakistan inviting all startups and fintechs to participate and compete for the most innovative ideas Winners from each city hackathon will later compete in the final Grand Hackathon to be held in Lahore at NICL LUMS

Lucky winners from the grand hackathon will win cash prizes worth PKR 2 2 million and a fully sponsored trip with return tickets to Singapore representing Pakistan at the Singapore Fintech Festival 2023

Sprint Pakistan – Powered by digiBOP s esteemed partners include Pakistan High Commission to Singapore, SFA, StartKar 2 0, Elevandi, and APIX

The ceremony held at NICL Auditorium (LUMS) brought together BOP’s leadership notable industry dignitaries from LUMS and startup founders including NICs and BICs from 7 major cities of Pakistan

Mr Nofel Daud (Group Head Strategy & Strategic Initiatives – BOP) highlighted BOP s consistent efforts in its digital transformation journey

He said, “I am confident Sprint Pakistan will be a game changer in the startup ecosystem as well as render itself as another feat in BOP digital transformation journey Ms Alia Zafar (Group Head People & Organizational Excellence – BOP) and Mr Imran Ashraf (Chief Digital Officer) emphasized the importance of initiatives for youth and their scale of impact They said, “Sprint Pakistan” serves as a fertile ground for innovation providing startups with a unique platform to showcase their creativity H

E Ms Rukhsana Afzaal (Pakistan s High Commissioner to Singapore) and Mr Shadab Taiyabi (President SFA) graced the launch ceremony with their presence through e-video message Mr Umang Moondra (CEO Synfindo APIX) and Mr Farhan Mumtaz working group StartKar from Singapore joined virtually and engaged with the audience explaining invaluable information regarding Singapore Fintech Festival 2023 The event was largely viewed locally and internationally in Singapore through e-connect p R e S S R e l e a S e

she added The Pakistan Muslim League-N (PML-N) leader said today you are a nuclear power and as long as Pakistan exists you will be a nuclear power

Let us see any project that the PTI Chairman has started I am happy that the people of Peshawar also have a metro bus service That s it all the projects of Pakistan are because of Nawaz Sharif

She said when Nawaz Sharif got the government in 2013, the country was suffering from hours long loadshedding and finally he fixed the issue During the four years of Nawaz Sharif ’s government the dollar remained at Rs97 98 Nawaz Sharif was expelled on the Iqama case and the country had not been able to develop till date Neither I believe in revenge nor Nawaz Sharif Those who conspired against Nawaz Sharif today are not able to go out in public God willing Nawaz Sharif is coming back Pakistan on October 21 ” he concluded

India’s ‘network of ex tra-territorial killings’ has gone global: FO

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Replying to a question about statements by Indian civil and military leadership against Pakistan, she said Pakistan had the capacity and will to defend itself “It has done in the past and it will continue to do so

‘N O T S U R P R I S E D’ Earlier Foreign Secretary Syrus Qazi said Pakistan was not surprised by the Canadian accusation and the world must recognise the ways of the country it considered “a supposedly indispensable ally Qazi s remarks came during a Tuesday night press briefing at the United Nations Mission in New York, where he is accompanying interim Prime Minister Anwaarul Haq Kakar to attend the 78th UN General Assembly session

We are aware of the nature of our eastern neighbour we know what they are capable of so it is not a surprise for us We caught [one of their] serving naval intelligence officers on our soil He is in our custody and admitted that he came here to create instability and spread evil he said when asked for a comment on the allegation levelled against India There must be some truth to the Canadian premier s allegation, that’s why they levelled it,” he said, adding that the situation was developing “but going by our experience we are not surprised

Answering a follow-up question the foreign secretary maintained that most of the time, Indian involvement was found in instability in Pakistan “Kulbhushan Jadhav] is a living example of it and the world needs to know he added In response to a question about conflicts with India

Qazi refused that Pakistan s responses had been defensive

If there is any country that understands India correctly, that’s us

And we are the only country in many respects that is not afraid of India he further stated highlighting that Pakistan had been resolutely protecting its freedom against a rival country 60 times bigger in size “We have been doing this for the past 70 years and will do it again when the need arises

Again referring to the IndiaCanada row, he added, This is no surprise for us, but the world must realise what are the ways of the country they have made their supposedly indispensable ally ”

The row over the Sikh leader s killing is the latest in an escalating row between India and Canada

There were signs of a brewing crisis before PM Trudeau revealed the probe into Nijjar ’s death on Monday Modi had expressed “strong concerns about continuing anti-India activities of extremist elements in Canada during his meeting with Trudeau at the G20 Canada had also suspended negotiations for a free-trade agreement with India, and last week its trade minister cancelled a trip to the country planned for October

RY: Today India warned its citizens against visiting parts of Canada, the latest salvo in a diplomatic row over allegations that New Delhi was involved in Nijjar ’s killing

Without explicitly referring to the row India s foreign ministry said it was concerned for the safety of its citizens in Canada because of politically condoned hate crimes and criminal violence” “Threats have particularly targeted Indian diplomats and sections of the Indian community who oppose the anti-India agenda a ministry statement said Indian nationals are therefore advised to avoid travelling to regions

SHC orders police to register Usman Dar’s ‘disappearance’ case

KARACHI

S ta f f R e p o R t

The Sindh High Court on Wednesday ordered the police to register a case over reports about disappearance of PTI leader Usman Dar from Karachi The High Court conducted hearing of a case against “detention and disappearance” of PTI leader Dar The SHC also directed the police to file a case and submit a report in this regard by October 3 The court was told by the police that the petitioner did not approach the security agency to register the case Barrister Ali Tahir, the lawyer of the petitioner, told the court that the application regarding disappearance of Usman Dar was submitted on the very first day The public prosecutor said that the petitioner could record his statement to the police if he wanted He said Dar was not in police custody Barrister Tahir said the caretaker interior minister of Sindh had admitted in a TV programme that Dar was in police custody Now the police say Dar has not been detained

and potential venues in Canada that have seen such incidents

The advisory did not name specific cities or locations for Indians to avoid Earlier, Canada also updated its advisory for travel to India, with Indian media reporting that Ottawa had warned its citizens against visiting occupied Kashmir due to a militancy threat

A statement on the Canadian government s website, updated on Monday, said: “Avoid all travel to the Union Territory of Jammu and Kashmir due to the unpredictable security situation There is a threat of terrorism militancy civil unrest and kidnapping This advisory excludes travelling to or within the Union Territory of Ladakh

India s main opposition Congress party has backed the government s rejection of Canada s suspicions that New Delhi s agents had links to Nijjar s murder, and urged a stand against threats to the country’s sovereignty Congress spokespersons backed what they called India s fight against terrorism and criticised Trudeau Trudeau s defence of declared terrorist Hardeep Singh Nijjar is absolutely shameful and shows how much the present Canadian regime is in bed with Khalistani sympathisers Abhishek Manu Singhvi a senior Congress lawmaker, posted on social media platform X, formerly known as Twitter Sikh separatists demand that their homeland “Khalistan”, meaning “the land of the pure” be created out of Punjab Its creation was the goal of a bloody Sikh insurgency in the 1980s and 1990s in India s northern state of Punjab during which tens of thousands were killed

Court says Sharjeel Memon’s trial in NAB case will start from where it was stopped

KARACHI S ta f f R e p o R t

An accountability court in its remarks on Wednesday noted that the trial of PPP leader Sharjeel Inam Memon would restart from the very point at which it had stopped Memon – who also served as provincial minister in the PPP s Sindh government in different capacities – had appeared before the court for the hearing of a corruption case allegedly involving an amount of Rs5 75 billion

The judge rejected the defence’s plea through which they had challenged the accountability court s jurisdiction under the amended NAB laws and ordered to present the witnesses as well as the accused during the next hearing which is scheduled for Octo-

ber 5 About the challenging the court’s powers, the judge observed that they had received the Supreme Court’s orders yesterday [Tuesday] which would be implemented Last week the Supreme Court declared null and void amendments to the National Accountability Ordinance (NAO) 1999 laws and restored corruption cases against public office holders which were abolished under the amended law A three-member bench headed by the then Chief Justice Umar Ata Bandial announced the reserved verdict on PTI chief s petition challenging the amendments to the law – with 2-1 majority as Justice Mansoor Ali Shah opposed the move Justice Shah in his dissenting note noted that the matter was related to the supremacy of Parliament not of illegal amendments

PML-N lawyer seeks SC direction on powers under Ar ticle 184(3)

ISLAMABAD

S ta f f R e p o R t

Pakistan Muslim League-Nawaz (PML-N) lawyer Barrister Zafarullah Khan approached the Supreme Court (SC) on Wednesday seeking appropriate directions on the exercise of jurisdiction under Article 184(3) of the Constitution of Pakistan Article 184 of the Constitution pertains to the original jurisdiction of the SC while Article 184(3) refers to the enforcement of fundamental rights Without prejudice to the provisions of Article 199 the Supreme Court shall if it considers that a question of public importance with reference to the enforcement of any of the Fundamental Rights conferred by Chapter I of Part II is involved have the power to make an order of the nature mentioned in the said Article [sic] reads Article 184 (3) Barrister Khan has sought directions from the apex court regarding the constitution of benches, hearing of pending cases for adjudication by the SC, observations made during the hearings of the cases as well as the appointment of judges and staff in the superior courts The jurisdiction of the apex court and the powers accorded to the chief justice of Pakistan have been under debate since the enactment of the Supreme Court (Practice and Procedure) Act, 2023 a law that seeks to streamline the CJP’s powers Recently sworn in CJP Justice Qazi Faez Isa made history earlier this week by holding a televised hearing of petitions challenging the 2023 Act before a full court The matter of constitution of benches has also been a point of contention among the judiciary, the political elite and the state with various stakeholders calling for a full court to hear crucial political and human rights cases

Terrorist killed in Kulachi IBO: ISPR

RAWALPINDI S ta f f R e p o R t

The majority has fallen prey to the unconstitutional objective of a parliamentarian, of transferring a political debate on the purpose and policy of an enactment from the Houses of the Parliament to the courthouse of the Supreme Court

In my humble opinion, the primary question in this case is not about the alleged lopsided amendments introduced in the NAB law by the Parliament but about the paramountcy of the Parliament a house of the chosen representatives of about 240 million people of Pakistan In the same line of arguments, he further says the basic question is of the limits of unelected judges’ decision making on a law passed by the parliament Hence the majority judgment didn t grasp the powers enjoyed by the parliament

The security forces killed a terrorist in an intelligence-based operation conducted in general area Kulachi of Dera Ismail (DI) Khan District, the Inter-Services Public Relations (ISPR) said Wednesday The ISPR, the military’s media affairs wing said in a statement that an “intense fire exchange” took place between security forces and militants during the operation and consequently one terrorist was sent to hell while one got injured According to the ISPR, weapons and ammunition were found in custody of the slain terrorist, who “remained actively involved in terrorist activities against security forces and killing of innocent civilians” Locals of the area appreciated the operation Sanitisation of the area is being carried out to eliminate any other terrorists found in the area it added In a similar incident on September 14, three terrorists were killed while a Pakistan Army soldier was martyred in an exchange of fire in Quetta The gun battle had taken place after militants attacked a security forces post near Wali Tangi the ISPR had said

CPEC focuses on Sino-Pak cooperation in agriculture sector

In the second phase of CPEC, the focus is on cooperation in science and technology, agriculture and social sector development, Pakistan Ambassador to China, Moin ul Haque said during his meeting with visiting Pakistani media delegation

The delegation from Balochistan province currently on a visit to China called on Ambassador to China, here at the Pakistan Embassy here on Wednesday Ambassador Haque briefed the delegation about Pakistan and Chinaof bilateral relations especially the current status of China Pakistan Economic Corridor (CPEC) which he termed as the flagship project of BRI and a strong symbol of Pak-China strong ties

He said that Pakistan and China were all-weather friends and strategic

cooperative partners and both the countries supported each other during the challenging times

The Ambassador said that China extended ample assistance to Pakistan during the Covid-19 pandemic by sending vaccines, equipment and medical teams

During the floods last year, China again extending a helping hand and sent relief goods to help the flood-stricken people in Pakistan he added Ambassador Haque said that China was focusing on the Balochistan province and had initiated several development projects, especially in Gwadar He informed that Gwadar Port, special economic zone and Gwadar International Airport would play an important role in the development of the province and the country Gwadar has potential to become the regional hub for business and trade and expressed the confidence that the port

HACKED DATA OF OVER 2M PAKISTANIS’ UP FOR SALE

ISLAMABAD S ta f f R e p o R t

TH E data of 2 2 million Pakistani citizens has been compromised and put up for sale online after some hackers gained access to a private company-made database used by hundreds of restaurants

According to a Geo News’ report on Wednesday the hackers have reportedly displayed the data of some citizens as samples in the advertisement for the online sale

We have hacked the databases of over

General Elections: Meeting of political par ties on code of conduct convened on Oct 4

ISLAMABAD n p

The Election Commission of Pakistan (ECP) to settle the code of conducts regarding upcoming general elections has convened a meeting with political parties on October 4

The meeting was aimed at discussing the code of conduct specified in Section 233 of the Election Act 2017, for the upcoming general elections According to the ECP spokesperson a draft of the code of conduct has been provided to political party leaders in advance allowing them to provide feedback more effectively during the consultation The Election Commission of Pakistan (ECP) will not allot election symbol to a political party failing to submit its financial statement, sources said All registered political parties are bound to submit their annual financial reports sources said The ECP had earlier directed the political parties to submit their consolidated financial statements for the fiscal year 2022-23 by August 29 It is pertinent to mention that Caretaker Prime Minister (PM) Anwaarul Haq Kakar rejected any possibility of delay in holding general elections due to security threats at Pakistan s borders In an international media outlet interview the caretaker prime minister expressed the confidence to overcome security threats at the country s borders and complete the electoral process “Although there is an alarming situation on our western and eastern frontiers wherein the required response mechanism is being enhanced we are sure that we will control the situation and complete the electoral process he said

Ali Wazir released from Adiala jail after securing bail

RAWALPINDI S ta f f R e p o R t Former Member National Assembly (MNA) Ali Wazir was released from Adiala Jail after securing bail in the sedition and terror cases As many as four FIRs were earlier registered against Ali Wazir in two police stations of Islamabad Two FIRs were registered in Tarnol Police Station while one FIR was registered in Bara Kahu Police Station Moreover, a case against Wazir was also registered with the FIA An Anti-Terrorism Court (ATC) granted him bail in three cases launched in Tarnol and Bara Kahu The former parliamentarian was also arrested by the FIA in a sedition case registered against him Sessions Judge (Central) granted bail to Ali Wazir in the sedition case All the surety bonds were submitted in the court and Wazir was freed from the Adiala jail after the completion of the legal process

250 restaurants the hackers claimed while naming dozens of food outlets P L AY V I D E O: As per details, the compromised citizen data includes their contact numbers and credit card details, while the software which has been hacked is used by hundreds of restaurants in the country

Moreover the details including the number of times and the amount a citizen has paid are available online for purchase The data of citizens is being offered for 2 Bitcoins, which make up to $54,000 as one Bitcoin is worth $27 000 as per the market sources In Pakistani rupees two Bitcoins are

worth over Rs15 million The Federal Investigation Agency s (FBR) cybercrime circle has said that no complaint has been received in this regard so far

It may be noted that the federal government on Tuesday advised all informational technology (IT) and financial institutions including regulators to refrain from collaboration installation and use of Indian origin artificial intelligence (AI)/information and communication technology (ICT) products as it may poses a “constant,

i s t a n i n c l u d i n g a f e w b a n k s are engaged with Indian-origin companies who are offering them IT products Cyber Security and AI solutions etc ” the docu-

SBP grants In-Principle Approval to five digital banks.

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Mashreq is among the biggest banks in the Middle East, majorly owned by UAE’s Al Ghurair family It is one of the largest conventional banks in the Middle East and also has a brick-andmortar presence in Pakistan Mashreq Bank s digital bank offerings in the middle east include specialised banking solutions for startups and SMEs, and calls itself the “Best Digital Bank” in the MiddleEast

Raqami Bank is being set up by a consortium of two Kuwaiti companies The group behind Raqami comprises the oldest and one of the world’s

Who are they?

biggest sovereign wealth funds the Kuwait Investment Authority through Pakistan-based Pak-Kuwait Investment Company (PKIC) KIA has $738 billion in assets under management The other equity partner is also a Kuwaitbased company, Enertech Holding Co which is a developer,

Tax Dept registers FIR against t wo over money-laundering in solar panels’ impor t

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Another official of FBR told the committee For such payments it is necessary to get an NOC from State Bank Pakistan (SBP) a requirement that the importers did not comply with The committee was told that a strict action will be taken against the elements involved in the scam under the AntiMoney Laundering Act

Senator Mohsin Aziz said that Solar was imported at a time when our foreign exchange reserves were extremely low and the role of banks is also important in the entire scandal

The Committee sought details of all the banks involved and vowed to pursue the matter with the State Bank of Pakistan and all relevant authorities for swift resolution The Chairman Committee also directed the FBR to continue action under the Anti-Money Laundering Act (AML) Furthermore, the Committee extensively discussed the status of the SME bank

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As per sources the federal cabinet members on 26th August 2023 felt that provision of this facility of free electricity units to anyone was unfair, especially due to financial crunch the country faces It was noted with concern that even retired employees were getting this prerequisite Two possibilities were discussed First that withdrawing a prerequisite which was offered at the start of employment would lead to extended litigation, therefore, replacing it with monetization was the right way to handle it Second any compensation being unfair and iniquitous During the course of this federal

Expressing dissatisfaction over the decision to wind down the SME bank the Committee urged the Finance Secretary to encourage SME lending and explore alternatives They stressed the importance of a collaborative effort among stakeholders to pinpoint the causes of the bank s downfall and work towards its revival

The Secretary Ministry of Finance stated that he would come up with the observation of the committee after consulting SBP and other concerns

During extensive discussions the committee delved into the pressing issues faced by the people of AJ&K with insights provided by the AJ&K Prime Minister In response, the Committee established a sub-committee, led by Senator Saadia Abbasi, to resolve the issues pertaining to Hydel budgetary and other Financial topics A unanimous commitment to prioritize and address AJ&K s issues was reiterated by the Committee Senator Mandviwalla emphasized,

We stand in with Kashmir and will exert every effort to address the challenges faced by AJ&K

Additionally, the private member Bill called,“ the State Bank of Pakistan (Amendment) Bill 2023” moved by Senator Mushtaq Ahmad was disposed off while discussion regarding the nonpayment of compensation to the affectees of Mohmand dam was deferred due to the absence of the mover, Senator Hilal Ur Rehman

A matter related to the non-payment of a subsidy amounting to Rs 29 lacs was brought forward by the Coowner of Al Madina Flour Mills The Committee discussed this issue and recommended that the Finance Ministry escalate the matter to the State Bank of Pakistan, providing an update to the committee within 15 days

Briefings on the Deposit Protection Mechanism and a Rs 5 billion fraud in Bank Al-Habib Faisalabad were regrettably deferred due to the Governor s prior engagements

ment had stated It had added that the use of Indian security products/solutions was a constant, concealed and force multiplier threat to Pakistan’s CII, including the banking sector, for two reasons

The factors were identified as a “possibility of backdoor or malware in the products to collect logs/data traffic analysis and personal identifiable information (PII) The other factor it pointed out was that it was “direct Indian ingress in Pakistan’s CII through technical means/access control with passive monitoring capability”

FSC admits plea against legislative amendment decriminalising suicide attempt

The Federal Shariat Court (FSC) on Wednesday admitted for hearing a plea seeking the nullification of an amendment to the Criminal Laws Act decriminalising suicide and suicide attempts In December last year, President Dr Arif Alvi approved the Criminal Laws (Amendment) Act 2022, which repealed Section 325 (attempt to commit suicide) of the Pakistan Penal Code 1860

The bill for the amendment was introduced by Senator Shahadat Awan in September 2021 passed in the Senate in May 2022 and by the National Assembly in October 2022

“Whoever attempts to commit suicide and does any act towards the commission of such offence shall be punished with simple imprisonment for a term which may extend to one year or with fine or with both the section read Advocate Hammad Saeed Dar challenged the legal amendment in a petition filed to the FSC, arguing that it was against the injunctions of the Holy Quran and Sunnah

It argued that it was the state s responsibility to protect the lives of its citizens and Section 325 was enacted to deter those attempting to end their life by killing themselves, thus decriminalising suicide went against Islam s teachings The petition pleaded that the Criminal Laws (Amendment) Act 2022 be “declared repugnant” to the injunctions of the Holy Quran and Sunnah

The Federation of Pakistan through the president, the Government of Pakistan through the prime minister and the law ministry through its secretary were named as respondents in the plea

The court issued a written order on the plea today stating that the preliminary hearing on the petition was held on Tuesday

PM urges global suppor t to developing nations on climate ambitions

CONTINUED FROM PAGE 01

He said the second phase of the Plan would mark preparing for the sector-specific investment framework to serve as a blueprint to translate and identify the adaptation needs into tangible and bankable projects

cabinet meeting the Minister for Law stated that the subject privilege of free electricity was provided as part of the contract to the employees of the power sector Therefore, subsequent changes to terms and conditions of service, withdrawal without any alternate compensation is most likely to result in litigation It is also learnt from sources that the power division also shared comments of the cabinet division NEPRA Finance Division, and Ministry of Water Resources/WAPDA before the cabinet meeting held on 26th August, 2023, NEPRA was of the view that utility allowance may be given to the officials instead of free units/monetization

Ministry of Water Resources/WAPDA stated that proposed arrangements would

Prime Minister Kakar also highlighted Pakistan s Living Indus Initiative aimed at restoring the ecological health of the Indus basin He said Pakistan took significant steps to enhance the early warning capacity as well as the flood protection plan

He said despite its no contribution to global warming Pakistan chose to be part of the solution by deciding to convert 60 percent of its energy resources to alternative energy by 2030 that would cost around $100 billion to the country Citing Quranic verses, the prime minister told the world leaders that Islam promoted responsibility to protect the environment and utilise natural resources efficiently and undertake an equitable approach to nature Urging the global community to come up with climate actions and support to the developing countries, the prime minister said, “This will be a litmus test of solidarity and perhaps for the survival of our species on our injured planet ”

The ECP should clarify the situation

TH E failure of the Election Commission of Pakistan to hold elections within the constitutionally mandated 90-period has created a situation of confusion and uncertainty in national politics, which require either an elected government or at least knowledge of when the elections for one are going to be held The ECP has said it will first carry out delimitations according to the latest census which is clearly an excuse for the postponement of polls

Apart from the absence of any time limit for the delimitation the period between censuses seven years does not create the danger of unrepresentative constituencies if present delimitations are left untouched Even the delimitations are not generating the kind of activity by prospective candidates and parties that they normally do It remains to be seen whether that reflects apathy or a storm later

There is also a policy of pick-and-choose at work, and which might tilt the balance not merely against the PTI, but in favour of one of the members of the outgoing coalition While there have been restrictions placed on the Punjab government in making transfers and postings, impugning the neutrality of the concerned officers no attention has been paid to the appointment within the caretaker government of officials at the minister of state level, with affiliations of the outgoing government This merely reinforces the claim by some observers that the ECP is not just executing an agenda which works towards a particular result for the coming election but has not set that agenda itself, but has had it set by some other player

Those who have charge of the ECP should assert its position as a constitutional and independent body, which does not have to follow the lead of any individual or institution It must focus not only its own energies on holding elections within the constitutionally defined timeframe, but those of the entire nation in particular of the stakeholders in the process, the political parties and the candidates It should keep in mind and not fail to remind any institutions or individuals who might have lost sight of the goal, that the purpose of being a constitutional polity is to be a democracy and for that elections on time are a foundation Without timely elections, there is only chaos By falling in with previous postponements the ECP has played a significant role in creating such chaps It must play its due role now, and prevent further disruption

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late)

Yousaf Nizami Editor

Founding Editor M A Niazi Joint Editor Umar Aziz Executive Editor

u

s i

TH E International Monetary Fund supports subsidies to the underprivileged while it opposes any facilitation for the rich Unfortunately in the land of the pure the burden of running the inefficient state apparatus is passed on to the already burdened masses The federal and provincial governments should withdraw all subsidies like free electricity/gas, petrol allocation, orderly allowances chauffeurs official residences provided to the state functionaries To control misuse of government transport there should be no individual allocations and only car pools should be allowed The nation should not be misled to believe that the IMF is responsible for the price hikes Direct tax collection needs to be streamlined to provide relief to those who need it

Ever since the creation of Pakistan only one percent of people pay income tax Initially the revenue collection agency was called CBR (Central Board of Revenue); later on the name was changed to FBR (Federal Board of Revenue) but the tax collection did not improve Musharraf ’s handpicked Prime Minister Shaukat Aziz came up with the idea of indirect taxes Sales tax regime was introduced to meet the growing expenses of the state apparatus Now everyone has to pay irrespective of their income The budget collection limits have been shared with the IMF which mandates strict adherence to ensure timely payments of accrued interest The bureaucracy is unwilling to cut expenses, it wants the people to carry the burden, making life difficult for the common man who is no longer in a position to pay Even basic survival has become difficult for the common man

In civilized countries food items are not taxed

The state meets its expenses through taxing the rich who can pay while subsidizing those who cannot By some estimates the real GDP of Pakistan is at least three times higher than the officially reported amount of $ 300 billion It means that income tax collection is seriously lagging behind Those who come in the net are harrassed while those who keep away remain untouched For the state to be functional revenue is needed IMF bailouts can no longer sustain the expenses of a state that consumes more than it produces Efficiency of a system is measured by its output, not

Justice on Camera

L i ve s t re a m i n g c o u l d t u r n j u d g e s a n d l aw ye r s i n t o p e r f o r m e r s

WH E N Mr Justice Qazi Faez Isa took oath of office as Chief Justice of Pakistan the legal fraternity and the public at large were hopeful of a new era of transparency and accessibility within the Supreme Court of Pakistan

In a groundbreaking decision, the Supreme Court initiated live streaming of hearings for petitions challenging the (controversial) Supreme Court Practice and Procedure Act of 2023 On the surface this move appeared to be a step towards greater openness and accountability When I first heard about this unprecedented move, I was in favour just like everyone else because if you have a debate on whether you want cameras in courtroom you can make a number of important points by taking the affirmative position and it s not an unreasonable position; but the longer I saw the live transmission of the court proceedings, the less good idea I thought it was

The proponents of live streaming argue that it would serve as a valuable tool for educating the general public about the inner workings of the court While the intent behind this reasoning is commendable the actual outcome has been far from ideal Rather than providing a comprehensive view of the institution, iIt gave a false sim-

u n d e r p r i v i l e g e d o n

inputs, as has been the case in the land of the pure

y Th e b u rd e n i s p ro v i n g t o o m u c h

Education and health are two vital sectors for the development of the nation which have been blatantly ignored by respective governments

While the private sector has moved in to make a killing at the cost of the common man, the public institutions face a serious collapse Those who hold positions manage to get the best treatment both at home and abroad while the underprivileged languish Charitable hospitals like Shaukat Khanum Hospital charge the rich to serve the poor It seems the revenue collection mechanism of SKH works well Affluent people are willing to pay voluntarily provided they are not harassed by the inspectors Personally I know several businesses that pay taxes by the book yet they are given a tough time by the tax authorities who are more interested in lining their own pockets In India cash transactions have been curtailed with the use of technology Tax is automatically collected with every transaction Pakistan urgently needs a taxpayerfriendly system to shore up the much needed revenue The ever changing fuel costs keep adding fuel to the fire While the rich are able to weather the storm the poor suffer The PDM government tried to provide a fuel subsidy to motorcycle users but badly failed CNG was used to run automobiles but again the Car owners benefitted more from this subsidized fuel till the country ran out of gas reserves Now LNG is being imported to meet the needs of the nation Gas loadshedding has started together with electricity A few weeks back I stopped at a local nursery to buy plants I noticed the redness in the eyes of the

manager On inquiry he told me that he could not sleep at night as there was no power and in the morning he could not eat well as there was no gas The underprivileged continue to suffer in the land of the pure while the party keeps going for the affluent To build his morale I shared my work with him on coal gasification which holds promise for inexpensive energy, but he was not convinced The redness of his eyes could not be reduced by the mere promise of affordable/available energy in the future

The underprivileged segment of the society needs help Time is running out for them In the 1960s and 1970s the progressives used the slogan, East is Red which calls for revolution The skewed distribution of wealth within and amongst nations has freshened the call for re-distribution The trickle down has not taken place Poverty is on the rise which needs to be addressed not overlooked as has been the case During my study days in the USA I once took a Red Eye Flight as it was called then while in Pakistan it was named Night Coach by PIA These were low-cost odd-hour flights Those who travelled on these inhuman flights were unable to perform when they reached their destination As a nation we have lost track Those who need help and hand holding are being neglected while the fat are getting fatter The pressure of inequality and poverty can blow the lid any time

The writer is ex-Chairman, Pakistan Science Foundation He can be contacted at: fmaliks@hotmail com

The underprivileged segment of the society needs help Time is running out for them In the 1960s and 1970s the progressives used the slogan, „East is Red‰ which calls for revolution The skewed distribution of wealth within and amongst nations has freshened the call for re-distribution. The trickle down has not taken place .

E d i t o r ’ s m a i l

pression of the Supreme Court because it is not all the time that the Court is deciding whether there should be a right to appeal or not ” Most of the time at least 99 percent of the time the Court deals with the real law and no doubt it will be very helpful in getting people familiar with how the court operates but it is also essential to acknowledge that the primary duty of the court is not to educate the public about its proceedings The court s fundamenta,l role, as mandated by the Constitution, is to interpret and uphold the law according to the principles of justice and the rule of law

One of the most glaring consequences of introducing cameras into the courtroom was the potential alteration in the behaviour of those involved in the legal process I think, because there were cameras, the lawyers acted differently and most importantly the judges acted differently that would ultimately affect the decision process as well Many senior members of the bar agreed that in the live streaming proceeding lawyers were being grilled unnecessarily which supports the argument of a possible change in the behaviour of judges by a change in their questioning style or interaction with the counsel which has the potential of compromising the independence of judiciary

People have absolutely the right to know what judges are doing in the court but not at the risk of hurting the process of justice

There can be a lot of steps to make the court more accessible like providing transcripts which is a com-

Justice Kennedy of the United States Supreme Cour t once voiced his concerns about televised proceedings by stating, „I would have the instinct that one of my colleagues asked a question because we are on television

mon practice in many jurisdictions

Justice Kennedy of the United States Supreme Court once voiced his concerns about televised proceedings by stating, I would have the instinct that one of my colleagues asked a question because we are on television ”

This sentiment underscores the apprehension that judges may become conscious of their public image and modify their behaviour accordingly Such alterations in judicial conduct risk overshadowing the pursuit of justice itself In the live streaming of Supreme Court hearings, it was evident that judges often interrupted counsels and delivered lengthy lectures on their own interpretations of the law These interventions at times resembled a judge s advocacy for a particular viewpoint rather than impartial adjudication which has undermined the public trust rather than enhancing it This observation is crucial which has arisen in the presence of cameras because the ultimate casualty is the pursuit of justice within the legal process

So what could be the alternatives? A more effective approach to increasing transparency and accessibility in the legal system would be to provide comprehensive transcripts of court proceedings Many jurisdictions worldwide have adopted this practice, which allows the public to access the full record of hearings without distorting the proceedings themselves

It is also important to mention other jurisdictions like the USA where the practice of live streaming has been in place in various states and judges have expressed concerns about its impact on the legal process Justice Kennedy s apprehension about colleagues asking questions for the sake of the camera’s presence highlights a universal concern among judges This change in questioning style may not necessarily lead to a more just decision-making process

T h e p o t e n t i a l fo r a l t e r e d b e h av i o u r o f j u d g e s t o d ay a n d p o s s i bly l aw ye rs t o m o r row, m a k e l i v e s t r e a m i n g a n i m p e r fe c t s o l u t i o n fo r a ch i ev i n g t r a n s p a r e n cy a n d a c c o u n t a b i l i t y. R a t h e r t h a n r u s h i n g i n t o l i v e s t r e a m i n g , a m o r e c o n s i d e r e d a p p ro a ch s h o u l d b e t a k e n t h a t wo u l d s t r i k e a b a l a n c e b e t w e e n t r a n s p a r e n cy a n d t h e p r e s e r va t i o n o f t h e i n t e g r i t y o f t h e l e g a l p ro c e s s

While the idea of live streaming court proceedings is appealing in its aspiration to promote transparency and public understanding, the primary duty of the Court is to uphold the Constitution and the rule of law, and the introduction of cameras has the potential to compromise this mission The potential for altered behaviour of judges today and possibly lawyers tomorrow make live streaming an imperfect solution for achieving transparency and accountability Rather than rushing into live streaming, a more considered approach should be taken that would strike a balance between transparency and the preservation of the integrity of the legal process

The writer is an advocate

S e n d y o u r l e t t e r s t o : L e t t e r s t o E d i t o r Pakistan Today 4 - S h a a re y F a t i m a J i n n a h L a h o re P a k i s t a n E - m a i l : l e t t e r s @ p a k i s t a n t o d a y c o m p k L e t t e r s s h o u l d b e a d d re s s e d t o Pakistan Today e x c l u s i v e l y

Road repairs

I am writing to express my concern and frustration over the very slow work on repairing a road part of Nata Khan Pull on Shahrah-e-Faisal Road which causes massive traffic jams daily on that road About two weeks have passed already, and construction work is not yet complete This also causes noise pollution, air pollution, and the consumption of petrol with a waste of time, specifically This road is one of the main arteries of Karachi, connecting the airport, the city centre and many residential and commercial areas It is used by thousands of commuters travelers and transporters every day The traffic jam caused by the construction work affects not only their convenience and productivity but also their health and safety The noise pollution from the heavy machinery and the honking of vehicles is unbearable The air pollution from the dust and exhaust fumes is harmful The consumption of gasoline and the wastage of time are costly The construction work on this road was supposed to be completed by August 22 2023 according to the local government department However it seems that there is no progress or urgency in finishing the project The workers are often seen idle or absent The materials and equipment are scattered or damaged The quality and standard of the work are questionable I urge the authorities concerned to take immediate action to expedite the construction work and ensure its completion as soon as possible They should also monitor and supervise the work closely and regularly They should also compensate the affected people for their losses and inconvenience They should also apologise to the public for their negligence and inefficiency This road is not only a matter of convenience but also a matter of pride and dignity for Karachi and Pakistan It should not be left in such a pathetic and pitiful condition for so long It should be repaired and maintained properly and promptly M

Consumer exploitation

ELECTRICITY consumers have been converted into revenue-generating machines for the loss-making power sector entities to cover up their inefficiency misgovernance and corruption How else can one describe the frequent hikes in power tariffs on one pretext or the other? Recently they have again raised the base power tariff to generate trillions during the current fiscal year, which is ridiculous This is in addition to the already existing high electricity tariff, fuel and quarterly adjustment charges and other unjustified miscellaneous charges, including capacity charges, higher system losses and theft Consumers are also made to pay for new capacities whether utilised or not and low sales growth for which they are not responsible at all Why are the consumers made to pay for the energy they never utilise and for the system losses theft and bad recoveries? It is beyond any logic why the consumers should cough up their hard-earned money because of low volume of sales

As per the dictates of the International Monetary Fund (IMF), all consumers, be it domestic, commercial, agricultural or industrial, will be made to pay a substantial amount of additional charges per unit without any solid reason to raise funds for the loss-making power sector for no fault of the hostage consumers This is a barbaric and terrible way of minting money from citizens who are already under heavy financial burden owing to hyperinflation for the last five years Our much-needed exports are never going to increase Rather, they will decline in view of the higher input cost of electrical power, making them uncompetitive As a result, the national economy is never likely to come out of its depression in the absence of reasonable power charges The high cost of electricity is going to further increase cases of line losses theft bad recoveries and corruption It is time citizens took a united stand and raised their voice in protest against the ever-rising unjustified exorbitant increase in power rates They may initially boycott the use of electricity for one hour daily and increase the duration subsequently across the country till their demand of affordable electricity is accepted

S

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d i z e t h e

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n e e d s t o a c t

Raja Shoaib Wali

Global Misperceptions

There’s nothing wrong with the countr y

PR O B A B

LY the most important challenge for Pakistan is the global misperception about the country and it is also the biggest challenge for the progress of CPEC When we meet our friends around the globe, who haven t yet visited Pakistan, they usually ask us strange questions as if there are hooligans roaming our streets, vandalism is to be commonly observed and people firing on each other is quite frequent

It is not only limited to international observers

Even when I watch our own news channels it scares me as if there are criminals waiting at the end of my street to snatch everything I have But fortunately, in a span of three decades of professional life it has never happened that I have noticed a gunshot around me, except during New Year celebrations Despite extensive social legal and official engagements being the elder in the family I never found a need to bribe anyone even for complex issues I have worked in different cities of Pakistan with other ethnicities but never noticed any discrimination; rather I made very good friends from Karachi to Peshawar Pakistan is a country of 241 million human beings; th e h is to r y o f man k in d p r o v es th at th is p lan et n ev er witnessed a society free of evil crime and negativity

Our scriptures authenticate that the criminal mindset

existed even in the times of Adam and Eve Crimes are not strange to any of us around the globe but howling about such happenings on the mainstream media will certainly damage the reputation of the nation as it is doing for Pakistan

Statistically Pakistan is in the bottom nations with incidents of robbery, theft and murders Reports of World Population Review and The Global Economy are easily available on the internet, which clearly indicate that countries like Denmark Sweden Uruguay and Australia are top four countries while the UK is at number six in the world with highest theft rates Costa Rica Argentina

Chile Uruguay and Ecuador are the top five countries with recorded robbery incidents while Pakistan is not among even top 50 countries

However, if we look at the global media it will give one the image that these nations at the top of the table of life-threatening crimes are less dangerous than Pakistan

On the other hand Pakistan is being portrayed by both the national and international media as an unattractive destination

It is this perception which actually haunts Pakistan s progress on every front, and as a result, the economy bears the downside of misperceptions

Separatist movements are operating in several countries including India but it is Pakistan which remains on the radar as a destination for extremists Pakistan has sacrificed so much to eliminate terrorism from this planet but doesn t get appropriate international recognition Pakistan put everything at stake and remained committed to fight against terrorism, and didn t even spare Pakistani citizens involved in any kind of extremism

Informal corridors of remittances exist from the Americas to African countries and some Asian nations but it was Pakistan which faced stringent FATF monitoring measures which resulted in a blessing in disguise and refined several financial sector services of the country

Political instability remains a challenge despite completion of the last four democratically elected governments during two decades; but still there is a lot to do to ensure political stability for smooth progress of every sector Political instability somehow contributes to the fragility of the security apparatus and all these factors eventually shrink the overall productive capacity of the country It is essential to eliminate false misperceptions about Pakistan if we actually desire to realize the dream

T h e a d v e n t o f C P E C e x p o s e d t h e u n m a t c h e d b u t g e n e r a l l y h i d d e n m a r i n e b e a u t y o f Pa k i s t a n . A n yo n e w h o v i s i t e d G w a d a r w a s l e f t a s t o n i s h e d a n d h y p n o t i z e d b y t h e c r y s t a l c l e a r, b l u e a n d c a l m w a t e r s o f G w a d a r C o a s t a l t o u r i s m c a n c o n t r i b u t e s i g n i f i c a n t l y t o t h e e c o n o my o f t h e c o u n t r y h a v i n g n a t u r a l b l e s s i n g s o f b e a c h e s s u c h a s Ku n d M a l i r B e a c h , D a r a n B e a c h J i w a n i , O r m a r a B e a c h , S o n m i a n i B e a c h a n d G w a d a r B e a c h

of economic progress I t w a s a n t i c i p a t e d t h a t C P E C w i t h i t s e x c e l l e n t connectivity potential, would bring prosperity not only f o r P a k i s t a n i b u s i n e s s e s b u t w o u l d a l s o s u p p o r t r egional entrepreneurs to conveniently access potential m a r k e t s b e y o n d r e g i o n a l b o r d e r s H o w e v e r t h e r e i s not much advancement in this aspect since the inception of the project China being a surplus economy direly needs shipp i n g a n d l o g i s t i c h u b s a r o u n d t h e g l o b e , w h i c h w a s o n e o f t h e i m p o r t a n t r e a s o n s f o r t h e i n c e p t i o n o f CPEC Gwadar, being an aptly located port, provided Pakistan with an advantage over other regional ports t o b e c o m e a s h i p p i n g a n d l o g i s t i c h u b f a c i l i t a t i n g China s reach to the rest of the world Logistic sectors in both countries are thriving China has already unveiled a state-owned logistic giant to improve competitiveness globally According to a senior official, the company will strive to ensure smooth flow of production factors under the ‘dual circulation’ development paradigm and develop a secure dependable and highly efficient modern logistic system Pakistan s logistics sector is growing rapidly making it an excellent investment time for Chinese enterprises There is a significant rise in religious tourism around the globe, according to a report published this year, The faith-based tourism market size is projected to grow by $25 85 billion ” Among many historical traditions of Pakistan Buddhist monuments and art stand out and are known throughout the world

Some of the regions that now form part of Pakistan were important in the development and growth of Buddhism in the world These regions were considered among the holiest places in Buddhism and for hundreds of years attracted travelers, holy men and women from everywhere The road network built under CPEC offers convenient connectivity to several Buddhist religious sites in Pakistan such as Taxila Mohra Muradu Jandial Mankiala Takht-i-Bahi Nimogram and Dangram

The advent of CPEC exposed the unmatched but generally hidden marine beauty of Pakistan Anyone who visited Gwadar was left astonished and hypnotized by the crystal clear blue and calm waters of Gwadar Coastal tourism can contribute significantly to the econ-

India’s souring relations with Canada could have wider implications for the west

C H e t I g j B A j pA e e

CA N A D A has not yet offered any definitive evidence of Indian complicity in the killing of a Sikh separatist leader Hardeep Singh Nijjar in British Columbia in June The prime minister Justin Trudeau s recent parliamentary statement noted credible allegations of a potential Indian link to the assassination But putting aside the veracity of Canada’s claims the downturn in Indo-Canadian relations points to signs of a more assertive Indian foreign policy India has been in the geopolitical spotlight over the past year, as evidenced by it hosting the G20 summit in New Delhi earlier this month It has surpassed China in population and the UK in GDP India’s prime minister Narendra Modi has received a red-carpet welcome in several capitals most notably Washington in June The contrast between China s struggling economy and forecasts that India will be the world s fastest-growing major economy this year could not be starker

However, is there a dark side to India playing a more assertive role on the world stage?

It has already come under criticism for its position on the war in Ukraine notwithstanding Modi s much publicised statement that today s era must not be of war The spat with Canada points to two additional facets of Indian diplomacy: first, that India could be becoming more prone to taking offence at actions that challenge its sovereignty and status; and second that it may be more willing to retaliate against such actions

Interestingly, both have parallels with China This points to both countries foreign policies being rooted less in the ideologies of their ruling parties – Hindu nationalism for the

S t a t i s t i c a l ly Pa k i s t a n i s i n t h e b o t t o m n a t i o n s w i t h i n c i d e n t s o f ro b b e r y, t h e f t a n d mu rd e rs .

R e p o r t s o f Wo r l d Po p u l a t i o n R ev i ew a n d T h e G l o b a l

E c o n o my a r e e a s i ly ava i l a bl e o n t h e i n t e r n e t , w h i ch cl e a r ly i n d i c a t e t h a t c o u n t r i e s l i k e D e n m a r k ,

S w e d e n , U r u g u ay a n d Au s t r a l i a a r e t o p fo u r c o u n t r i e s w h i l e t h e U K i s a t nu m b e r s i x i n t h e wo r l d w i t h h i g h e s t t h e f t r a t e s

omy of the country having natural blessings of beaches such as Kund Malir Beach Daran Beach Jiwani Ormara Beach, Sonmiani Beach and Gwadar Beach

China is the world s most dynamic food and farm produce market It is a net importer of bulk agricultural products such as grains, cottons, edible oils, sugar, meat and milk About 70 percent of China’s agricultural imports come from the far-flung corners of the world including the USA Brazil and Australia Pakistan should utilize the opportunity of China s increased demand for food which is currently estimated at $1 trillion per annum However, it will be only possible if all stakeholders from top to bottom join hands to eliminate global misperceptions about the country

The writer is Associate Professor of Management Sciences and head Center of Islamic Finance COMSATS University Islamabad Lahore Campus

U n r e g u l a t e d A I w i l l d e s t r o y 3 0 0 m i l l i o n j o b s

NEWSWEEK

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BJP and Marxism-Leninism in the case of the Chinese Communist party – and more in the self-perception that they are civilisational states that deserve to be treated as major global powers Related to this, both countries cling to a need to correct historical injustices China’s “100 years of humiliation” by the west and Japan is matched by India’s “200 years of humiliation under British colonial rule

Like China India has also demonstrated a willingness to employ tools of economic coercion as a form of punishment, notably the prospect of access to its vast market of 1 4 billion people After the recent tit-for-tat diplomatic expulsions by Canada and India the likelihood of concluding a free-trade agreement between the countries is negligible for the foreseeable future despite nine rounds of negotiations (the most recent in July) This is a warning to other countries that have also had tensions over alleged anti-Indian activities on their soil, including the UK: pursuing free-trade negotiations with India might prove difficult

If the allegations of official Indian involvement in the killing are proved to be true it would also point to the growing brazenness of India s intelligence services India has long been active in intelligence and military operations targeting terrorist activities in neighbouring countries most notably Pakistan but a state-sponsored assassination in a western country would be a gamechanger India wants to be seen as a responsible global power The last thing New Delhi would want is to be put in the same league as Saudi Arabia following the killing of journalist Jamal Khashoggi, or Russia following the Salisbury poisonings

This would put the US in a difficult position It sees India as a long-term strategic partner and a bulwark against the rise of China It has downplayed allegations of democratic backsliding and human rights abuses in India

CONVICTED L AWMAKERS

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But it cannot ignore an extrajudicial killing in a country that is a key ally

Finally the downturn in Indo-Canadian relations demonstrates the downside of India s 18-million strong diaspora population, which is the world’s largest Members of the diaspora have been touted as a source of strength for India through their role as cheerleaders and virtual ambassadors for the country This has been reflected in the warm reception that Modi has received from overseas Indian communities in several countries However, the recent resurgence of Sikh separatist (Khalistani) sentiment in several countries alludes to the diaspora becoming a source of friction between India and host countries where groups are engaged in alleged anti-India activities

The rise of ethnic Indians to prominent positions of power – including Britain s prime minister Rishi Sunak, the US vice president Kamala Harris, the World Bank head Ajay Banga and 26 CEOs of Indian origin in S&P 500 companies – can build bridges between India and other countries But it can also fuel frictions In this context the fact that Canada is home to the world s largest Sikh population outside India and the Canadian government includes a coalition partner led by an ethnic Sikh, Jagmeet Singh, has raised questions about the extent to which Trudeau’s government is beholden to groups that sympathise or support Sikh separatist activities in India

Where does this leave India s international diplomacy? While it may be premature to say that India is engaging in its own form of wolf warrior” diplomacy, the downturn in IndoCanadian relations signals the emergence of a more muscular and potentially aggressive Indian foreign policy

Dr Chietigj Bajpaee is senior fellow for south Asia at the think tank Chatham House

grave offences such as rape, murder, drug trafficking, corruption and involvement in terror activities should be permanently debarred from contesting elections, irrespective of when he/she is released The report has turned the spotlight on Section 8 of the Representation of the People Act which stipulates that the disqualification of a convicted politician can extend only up to six years after his/her release This legal loophole which is a major impediment to decriminalisation of politics needs to be plugged on priority

It s equally important to expedite cases involving MPs and MLAs so that the political parties they belong to can take decisions on their candidature or continuation in office on the basis of the court verdicts; this will also help voters make informed choices during the elections The amicus curiae’s report has rightly suggested that the special courts set up for such cases should be directed to furnish monthly reports of pendency and disposal to the respective High Courts; the reasons for the delay must also be specified for long-pending cases All these steps, if implemented in earnest, can make a significant contribution towards cleansing electoral politics

quarrel

argument

By regulating the use of AI in recruiting the Biden administration will ensure that bias is reduced in the workplace and that humans not robots are better at what they do for a living Federal laws regulating AI in hiring have yet to take effect, but multiple states and municipalities are working to establish policies New York City has already passed a law regarding an automated employment decision tool that requires annual third-party audits to assess an AI s biases New Jersey, Illinois, Maryland, and California are other states looking to limit hiring bias by outlawing facial recognition interview video analysis and screening for gender or race All of these bills will help protect human job security and the greater economy from the threat of AI As indicated by management consulting company Gartner, “Differences of age ethnicity gender and other dimensions foster high performance The economy is stronger and more resilient because of its diversified workforce The World Economic Forum supports this point with research indicating that organizations with higher diversity scores obtain double the revenue through innovation

If America wants to stay at the forefront of this movement President Joe Biden and his cabinet must make sure robots aren t taking our jobs

Balance is needed for AI recruitment regulations While policies are needed to ensure AI stays safe for the public they should not be so extensive that they kill the innovation and efficiency that these tools can provide We still need them in the workplace, but Biden should use the rest of his term to enact legislation that protects the future of human work AI can be a detriment to our economy and more specifically the unemployment rate so we cannot have uneducated officials controlling our fate To avoid this from happening Biden and other government officials should educate themselves on AI, as they are doing currently, and call on experts to design new laws That way AI will be ethical and beneficial for the world s diverse talent pool not a

O L D M A N Sachs predicted this year that generative AI could cause 300 million full-time jobs to become automated That would affect more people than the entire population of Indonesia It’s clear that AI is here to stay and some human jobs will inevitably fade away but a vital component of keeping those jobs safe can be tied to government regulation Although companies want to leverage AI to maximize efficiency, regulations must be implemented to integrate this tech the right waysmarter cheaper replacement AI in the workplace has broad implications on both sides of the spectrum It can be transformative for eliminating hiring admin tasks, improving employee engagement and tailoring onboarding processes But it can also exacerbate race and gender inequalities and preferences for candidates who fit into certain boxes That is why the Biden administration should not let people choose whether they will perpetuate biases with AI Ethical employers want meritocratic hiring so AI should be responsibly deployed and regulated In the words of a New York Times article doing so is a no-brainer:

The U S Regulates Cars, Radio and TV When Will It Regulate A I ? Policies that enforce equality with the help of AI will enhance the business environment AI legislation should provide a healthy framework on how companies can help employees augment their intelligence IBM s chief human resources officer Nickle LaMoreaux first coined the term “augmented intelligence” in an interview, saying that AI can only work its magic in HR when all levels of talent are using it to supplement their abilities I think other companies should see regulation from this angle They must remember that the hype or doom about AI exists for a reason This tech is a big deal because it is reshaping our futures and careers before our eyes Not enacting the correct policies for AI in hiring is the equivalent of letting planes fly on autopilot I ve previously explained that there is too much on the line to dismiss the importance of human intervention

The U S government introduced the AI Bill of Rights to provide guidelines and education for companies and individuals The goals of this framework are to ensure systems are safe and effective, free of algorithmic discrimination, and protect data privacy, among other principles Biden has also committed billions to the research and development of AI as well as auditing policies The promises of these executive orders are grand and they will take a long time to come to fruition

Until actual laws are solidified, companies integrating AI should adhere to the principles our government hopes to create Doing so will not only stimulate economic growth but it will also allow society to stay human-centric among disruptive technologies

Once AI becomes commonplace for hiring talent and retaining it, the world will witness much more innovation Teams will be diversified in their thinking skill sets and backgrounds which will help them resolve economic social and humanitarian threats

Why

China keeps benchmark rates unchanged as economy finds footing

PR OFIT s ta f f r e p o r t

China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, in line with expectations as fresh signs of economic stabilisation and a weakening yuan reduced the need for immediate monetary easing Recent economic data showed the world s secondlargest economy was finding its footing after a sharp slowdown, while yuan declines have reduced the urgency for authorities to aggressively lower interest rates to prop up growth

The one-year loan prime rate (LPR) was kept at 3 45%, while the five-year LPR was unchanged at 4 20% Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influ-

ences the pricing of mortgages

In a Reuters survey of 29 market analysts and traders, all participants predicted no change to the one-year LPR while a vast majority of them also expected the five-year rate to remain steady The steady LPR fixings follow the central bank’s decision last week to roll over maturing medium-term policy loans and keep interest rate on those loans unchanged

The medium-term lending facility (MLF) rate serves as a guide to the LPR and markets see it as a precursor to any changes to the lending benchmarks Widening yield differentials with other major economies particularly the United States, and faltering domestic growth have pressured the Chinese yuan down more than 5% against the dollar this year prompting authorities to ramp up efforts to

rein in the weakness

More attention should be given to the exchange rate of the yuan against a basket of currencies Zou Lan a China central bank official said at a news conference on Wednesday Zou said China will curb market disruptions correct one-sided yuan moves and guard against the risk of the currency overshooting

Monetary policy rollout maintains its steady pace, and there are still chances for reductions to LPRs next month said Xing Zhaopeng, senior China strategist at ANZ

“Net interest margin is not an obstacle for rate cuts as banks have lowered deposit rates Xing added that economic data will continue to improve in the fourth quarter and that the low base effect will ensure growth exceeds 5%

The policy impact will ex-

tend to the next few quarters

We have revised our 2023 and 2024 GDP forecast up to 5 1% and 4 2% ” he said China s central bank last week lowered the amount of cash banks must hold as reserves for a second time this year to boost liquidity and support the economic recovery Despite the steady LPR, some market watchers said recent property easing measures suggest cuts to the fiveyear LPR and more policy stimulus are likely in coming months L o o k i n g f o r w a r d , w e e xp e c t p r o p e r t y s a l e s v o l u m e t o stabilise gradually at low levels i n t h e c o m i n g m o n t h s i n f r astructure investment to grow at a r o b u s t b u t s l o w e r p a c e o n a h i g h b a s e , s a i d Wa n g Ta o , chief China economist at UBS

“We maintain our real GDP growth forecast of 4 8% for fullyear 2023

C H I N A , PA K I S TA N S U C C E S S F U L LY

C O N C L U D E J O I N T A I R E X E R C I S E

ISLAMABAD S ta f f C o r r e S p o n d e n t

WITH the return of participating Pakistani forces on Tuesday, China and Pakistan successfully wrapped up the Shaheen-

FFC wins prestigious ‘Company of Year Award’ by RCCI

RAWALPINDI p r

Rawalpindi Chamber of Commerce and Industry

(RCCI) held its 35th International Achievement Awards Ceremony and Business Opportunity Conference at Cairo, Egypt Fauji Fertilizer Company Limited (FFC) has been conferred ‘Company of the Year Award’ in recognition of Company’s dedication, devotion commitment and exemplary business performance during Year 2022 Senior Manager Public Relation & Liaison Mr Shahbaz Ahmad Khan and Deputy Manager Corporate Affairs Lt Col Muhammad Kashif Nazir (Retd), received the award

Commerce Minister Dr Gohar Ejaz calls on Dr Kauser Abdulla Malik

X joint air exercise in Northwest China with observers on Wednesday predicting more military interactions and exchanges that will further deepen pragmatic cooperation between the Iron Brothers

The J-10C and JF-17 fighter aircraft of the Pakistan Air Force contingent on Tuesday landed back at an operational air base in Pakistan after successful participation in the joint air exercise in China the Pakistan Air Force said in a press release on Tuesday

Aimed at validating interoperability between China and Pakistan in the face of realistic contemporary air combat scenarios the exercise was a collaborative endeavour that facilitated the exchange of valuable insights and lessons learned according to the Pakistani press release

A video attached to the press release highlighted that the Shaheen-X was an operational exercise that deepened brotherhood, created synergy, enhanced professional skills and operational

preparedness and shared cultural values

The Chinese People s Liberation Army (PLA) Air Force dispatched warplanes including the J-16 fighter jet to the joint exercise the video showed

The drill the 10th edition in the Shaheen exercise series started on August 28 in Jiuquan, Northwest China s Gansu Province and Yinchuan, Northwest China’s Ningxia Hui Autonomous Region, the Xinhua News Agency reported

In addition to fighters other types of aircraft such as early warning aircraft and ground equipment including ground-toair missile systems radar installations and communications units, also participated in the drill that practiced typical combat scenarios such as joint air defense and joint countermeasures according to Xinhua

The exercise featured advanced warplanes from both sides and formed complete combat systems that stress interoperability, a Chinese military expert who requested anonymity told Chinese media

The J-16 from the Chinese side is the PLA Air Force s most powerful and allrounded fighter jet only second to the stealth-capable J-20 while the J-10C from the Pakistani side is the Pakistan Air Force s most advanced aircraft, the ex-

pert said Pakistan commissioned the first batch of Chinese-developed J-10Cs in March 2022 They can be interconnected with their Chinese counterparts through the PLA Air Force’s KJ-500 early warning aircraft the expert said Fu Qianshao a Chinese military aviation expert told that the exercise is beneficial to both sides in terms of skills tactics and interoperability

Zindigi, EFU collaborate for digitizing insurance landscape

PESHAWAR p r

Zindigi, a key player in digital financial services has joined forces with EFU Life Assurance a leading life insurance provider in Pakistan This partnership is aimed at offering insurance solutions to safeguard against uncertainty and rising prices, empowering people in Pakistan to protect their physical mental and financial well-

being through digital insurance products Meena M Khan Chief Product & Marketing Officer at Zindigi, stated, "Our collaboration with EFU is geared towards providing insurance options that help individuals combat the effects of inflation aligning with the rapidly changing financial landscape in Pakistan Ms Nilofer Sohail, Deputy General Manager of Channel Strategy & Execution at EFU, added,

of agriculture industry through modern research will bring economic prosperity in the country In addition we need to use latest governance model in all departments to save unnecessary budgetary expenses Federal Ministers agreed to keep close coordination among ministries for the development of country

Saudi Chief of General Staff visits Naval headquar ters

ISLAMABAD p r

Chief of the General Staff Saudi Armed Forces General Fayyadh bin Hamed Al-Ruwaili visited Naval Headquarters Islamabad and Called-on

Chief of Staff Vice Admiral Naveed Ashraf During the meeting, matters of mutual interest including bilateral collaboration and regional security were discussed The visiting dignitary appreciated and acknowledged Pakistan Navy’s efforts and commitments in support of collaborative maritime security in the region Both dignitaries appreciated the successful conduct of PN-RSNF Exercise Naseem Al Bahr-XIV that was recently held at Al Jubail and reaffirmed the resolve to further enhance bilateral defence ties The visit of Chief of the General Staff Saudi Arabian Armed Forces will further enhance bilateral defence collaboration between the two countries

Windows of Hope

PR

For every child, each canvas represents a window of hope for a better future Each child is a window of hope for their family, and a window of hope for our nation Asma Syed, an A-Level student at Karachi Grammar School led an initiative to bring awareness about the importance of creativity and art education in the development of children from underprivileged communities AlFurqan School is a non-profit welfare organization for socio-economic uplift of under-privileged children In continuation of leading the Al-Furqan summer art-class program Asma helped the children showcase their art by painting a wall in their neighborhood The purpose was to take the children s creativity to their neighborhood for parents to become supportive of their children s artistic expression, and inspire and motivate others in their communities by witnessing the children’s creativity in action

Observing the rise and expansion of the Zindigi Channel particularly in reaching previously untapped customer segments, many of whom are first-time users of banking services, is truly heartening Aligned with EFU Life's commitment to inclusive insurance we have consistently endeavored to extend insurance protection across diverse demographics The alliance with Zindigi stands as a momentous marker in this ongoing endeavor Leveraging our array of products services and proficiency we aspire to make a meaningful difference in the lives of our valued customers Zindigi and EFU Life Assurance are proud to unite their expertise in the financial and insurance sectors to create a seamless and customer-centric experience This partnership aligns perfectly with Zindigi s mission to protect the financial interests of its customers and provide inclusive financial solutions to individuals across Pakistan

IESCO shutdown schedule for today

ISLAMABAD p r

Circle, Anguri, NCP, Mengyal, Shahdara, Shahpur, Khayaban Iqbal, Pir Suhawah, Quaid-e-Azam University Punjab House Bri Imam Mandala Athal NIH Suhadran Road Feeders From 07:00 AM to 12:00 Noon Islamabad Circle SES Fazal Ghi NDC-1 H11/4 I-10/2 New Exchange Kidney Centre Dr AQ Khan, Islamic University, Bahria University, G-10/1,2 & 4, G-9/1, CWO, Dhok Najo, Raja Sultan, Eid Gah, Khasala, I-8/4, Service Road , Muslim Town, FHS Feeders Rawalpindi Cantt Circle FECHS Swan Garden-I IST New Rawat Old Rawat CWO AOWHS

Sparco Feeders Rawalpindi City Circle Pindhon I14/3 Noon I-16/1 HPT Radio Pak Lakho Road Ameer Hamza Officer Colony New Milpur Jinnah Camp KRL Zeeshan Colony Lakho Feeders Attock Circle, Ghorghashti, Bara Zee, Maskinabad, Shah Dir, Radio Pak-I & II, Larnpur, Qaziabad, GBHP Colony, HMC Road, Taxila, Sher Shah Suri, Islampura Feeder, Chakwal Circle Chakra Feeders Jhelum Circle F-3 Gul Afshan Sanghui Chotala Kantrela Pakhwal feeders and surrounding areas will remain closed IESCO management apologizes to its esteemed customers for the power outage If the work is completed ahead of time, the power supply can be restored even before the scheduled time

Foundation University Islamabad holds Convocation for MBBS session 2018-2022

ISLAMABAD p r

Foundation University held it s MBBS Convocation 2023 on September 20, 2023, at Jinnah Auditorium Foundation University School of Health Sciences (FUSH) The convocation ceremony was attended by the President of Pakistan Medical and Dental Council (PMDC), Prof Dr Rizwan Taj, as the Chief Guest, and the Surgeon General of Pakistan Army Lt Gen Mohsin Muhammad Qureshi HI (M) as Guest of Honour Rector of Foundation University Major General Nasir Dilawar Shah, HI (M) (R), the Director of Foundation University School of Health Sciences, Major Gen Imran Fazal, HI(M) (R), faculty members the graduates and the distinguished guests

The ceremony marked the graduation of 168 students from the MBBS program of FUMC, which is recognized by the PM&DC, the HEC, and the CPSP

The graduates received their degrees medals and certificates from the chief guest The college awarded 12 Gold Medals and 12 Silver Medals to the graduates for Final and Fourth Professional Examinations The college also awarded 132 Distinction Certificates and 247 Merit Certificates to the graduates for their academic performance In the welcome address the Director of Foundation University School of Health Sciences high-

lighted the achievements and accomplishments of the college in providing quality medical education at par with the needs of the modern time He also announced the transition of the college to the Problem Based Learning system a modern and innovative approach to medical education that fosters critical thinking and problem-solving skills among the students He expressed his hope that the new system would enhance the learning outcomes and prepare the students for the challenges of the future

He added that our Doctor of Physical Therapy Program has achieved accreditation by the esteemed World Confederation of Physical Therapy (WCPT) This accolade is especially notable as our institute is the only one in Pakistan to have received this international accreditation He stated that FUMC is resolute in fostering a research-centric ethos and undergraduates mandatorily partake in research activities The establishment of the Center for Clinical &

Biomedical Research (CBRC) within FUMC has been a significant leap forward and since its inception, the Center has embarked on over 50 research projects across various specialties, with nine projects nearing publication

He then addressed to the graduating students and wished them good luck for the future and to remain loyal and dedicated towards their duty The chief guest of the ceremony congratulated the graduates of the MBBS session 20182022 on their remarkable achievement and urged them to uphold the highest standards of professionalism ethics and compassion in their medical practice

He appreciated the efforts and contributions of the Foundation University and the FUMC in promoting medical education and health care in Pakistan

He also lauded the graduates for their hard work and perseverance, and advised them to continue their professional development and serve the nation with compassion and excellence

The two countries use different training approaches but at the same time fly the same aircraft the J-10C so both sides can learn from each other, Fu said Experts anticipate there will be more high-level exchanges, joint exercises among the armies navies and air forces of the two countries personnel training as well as technology cooperation including arms sales and joint development, in the future

Zong 4G announces

Huo Junli as New CEO, Chairman

ISLAMABAD p r

20th September, 2023: Zong 4G, Pakistan s leading telecommunications company, welcomed Mr Huo Junli as the new Chairman & CEO marking a significant leadership transition Mr Huo Junli has officially taken the helm succeeding Mr Wang Hua who has admirably served as CMPak s CEO and Chairman for over five years Mr Wang Hua has returned to CMCC, where he will undertake a new role within the organization Mr Huo Junli holds a Master s degree in Electronics and Communications Engineering from Beijing University of Posts & Telecommunication and a Master's degree in Business Administration from Xi an Jiaotong University Mr Huo Junli brings an extensive and diverse background with nearly three decades of experience in the telecommunications industry His career, which began in 1997, has been marked by a series of notable roles within CMCC, including leadership positions such as heading the NOMC and Information Security department for China Mobile Shanxi Province Company In 2017 he further advanced his career as a board member and Chief Technology Officer (CTO) Mr Huo Junli enthusiastically shared his sentiments upon taking on the leadership role at Zong 4G, stating, I am thrilled to embark on this new chapter at Zong 4G The company has a well-earned reputation for its steadfast commitment to pushing boundaries fearlessly addressing challenges and consistently delivering exceptional results throughout its 15-year history I am wholeheartedly committed to guiding our journey towards excellence and playing a pivotal role in advancing and expanding the telecommunications industry in the country, aligning with the vision of a Digital Pakistan ” With this transition, Zong 4G looks forward to Mr Huo Junli's visionary leadership aiming to continue its commitment to delivering exceptional telecommunications services and spearheading innovation in the industry

PCJCCI plans conference to mark China’s National Day, CPEC 10th Anniversar y

LAHORE p r

The Pakistan China Joint Chamber of Commerce and industry (PCJCCI) in collaboration with Jang Media Group is conducting a conference on CPEC achievements targets and future prospects in connection with the celebration of 10th anniversary of CPEC and China s National Day The event will be held on Friday, 22nd September 2023 at Pearl Continental Hotel, Lahore Many renowned speakers will be discussing the achievements targets and the future under the vision of CPEC; CPEC construction role of CPEC to uplift the marginalized community of Pakistan RMB and other aspects Mr Mozzam Ali Ghurki President PCJCCI shared that our chamber always try to develop a strong relation and bond between the two countries by conducting and celebrating such events We believe that Pakistan and China are two nations; but by heart they are beautifully intricate as one nation Mr Noorullah Head of Marketing Operations Jang Media Group said that the combination of Chinese technological advancements and Pakistan s natural and human resources can bring revolutionary changes in the region Mr Salahuddin Hanif, Secretary General PCJCCI added that the rising of China as an International Economic Power is proving beneficial for Pakistan with every passing day

B P G R A N T S I N - P R I N C I P L E A P P R O VA L T O F I V E

D I G I TA L B A N KS . W H O A R E T H E Y ?

ON Wednesday, in a momentous ceremony at the State Bank of Pakistan (SBP) Museum Building in Karachi Governor SBP

Mr Jameel Ahmad awarded IPAs to the five proposed digital banks including HugoBank Pakistan KT Bank Pakistan Limited, Mashreq, Raqami Islamic Digital Bank, and Telenor Microfinance Bank

It may be recalled that SBP issued a No Objection Certificate (NOC) to these five successful applicants for establishing digital banks in Pakistan in January 2023 allowing them to incorporate as a Public Limited Company with the Securities and Exchange Commission of Pakistan (SECP) These institutions were selected after a thorough and rigorous evaluation process based on a comprehensive set of parameters including fitness and propriety experience and financial strength; business plan; implementation plan; funding and capital plan; IT and cy-

bersecurity strategy and outsourcing arrangements After the fulfilment of the necessary requirements these entities have now been granted in-principle approval to prepare themselves operationally to launch digital financial services

During his keynote address, Governor SBP highlighted the significance of the initiative of introducing Digital Retail Banks (DRBs) in the country its profound benefits to the financial system and some of the key challenges faced by such genre of financial players

The governor also mentioned a few other important regulatory initiatives in support of building a digital financial ecosystem and assured that SBP is fully committed to supporting various stakeholders for a bright innovative and digitally empowered future of banking in Pakistan

Highlighting the challenges digital banking is expected to confront in the Pakistani market, the SBP chief said that ensuing cyber security and data privacy of customer data is paramount for digital

banks “The digital banks must invest in robust security measures to protect against cyber attacks cyber breaches and fraud he said In this regard the SBP is currently revisiting its guidelines on information security and cyber security, he shared He added that these digital banks would have to work towards building digital literacy, and customer trust HUGO BANK

Hugo Bank is a joint venture between Getz Bros the pharma Pakistani courier M&P, and Atlas Consolidate, which runs the Singaporean fintech Hugosave Chairperson of the Board of HugoBank, highlighted the unwavering commitment to Pakistan’s socio-economic development through digital offerings that boost GDP and foster financial inclusion Kamran Nishat MD & CEO at Muller & Phipps Pakistan and Board Member at HugoBank, said, M&P Pakistan has been a formidable player in the branchless banking landscape for nearly a decade and understands the intricate dynamics of financial

accessibility in Pakistan

Our expansive network which is within a 20-minute reach of 180 million Pakistanis would help strengthen HugoBank s mission This collaboration is a step forward in ensuring every Pakistani has seamless access to modern financial services

David Fergusson, CEO of Atlas Consolidated and Board Member at HugoBank added “Atlas brings with it a rich heritage of fintech innovation

Our collaboration with HugoBank is as its shareholders and as its technological vanguards with financial services experience in consumer markets Recognizing the immense potential of emerging markets, particularly Pakistan we believe that digital banking has the power to uplift and transform lives Through our combined expertise we are committed to making this vision a reality Atyab Tahir, CEO of HugoBank said

“We extend our deepest gratitude to the SBP appreciate their trust in HugoBank and their unwavering commitment to promoting

Employees of WAPDA, DISCOs and others to continue getting free elec tricity

ISLAMABAD

power sector employees the judiciary or the military

The Power Division estimates that 15,971 employees from BPS 17-21 consume 7 million units of free electricity per month and 173 200 employees from BPS 1-16 consume 330 million units of free electricity per month Sadly they do

not provide a more granular look into the matter

According to the National Electric Power Regulatory Authority s (NEPRA) State of Industry Report for 2022 serving and retired employees of power distribution companies (DISCOs), generation companies, the National Transmission & Despatch Company (NTDC) and the Water and Power Development Authority (WAPDA) are entitled to free electricity units

The amount of free electricity provided amounted to Rs 6 4 billion in fiscal year 2022 (FY) This figure, however, excludes the electricity provided to WAPDA employees How much do they consume? No one knows NEPRA is yet to conduct that exercise The report also reveals that electricity consumers are paying for the pension benefits of retired employees of these power companies The report elucidates on the total pension benefits, including free electricity, of six DISCOs located in

PTI implores CJP to schedule early hearings of Imran’s cases, live broadcast of proceedings

A day after the Supreme Court went live on air with its full court proceedings the Pakistan Tehreek-e-Insaf (PTI) on Tuesday urgently implored Chief Justice of Pakistan (CJP) Qazi Faez Isa to promptly schedule the hearings of all cases involving former prime minister Imran Khan and authorise their live broadcast Condemning the unjustified postponement of Imran’s bail application by the Islamabad High Court a PTI spokesperson expressed the need for the CJP to take immediate cognisance of the miscarriage of justice transpiring within the country and to ensure that the principles of justice were upheld in all subordinate courts Further, the spokesperson appealed to the CJP to guarantee the protection of constitutional rights of the nation’s former prime minister and to ensure the equitable dispensation of justice and fairness “The honourable Chief Justice is also called upon to oversee the delivery of justice to incarcerated leaders and workers of (the Pakistan) Tehreek-e-Insaf with particular emphasis on women workers The spokesperson underscored that Imran, as the former premier and leader of Pakistan s largest political party, was currently experiencing what could only be described as “vindictive targeting” Additionally PTI Vice Chairman Shah Mahmood Qureshi had been subjected to persistent extra-constitutional measures while PTI Central President Chaudhry Parvez Elahi faced repeated arrests on spurious charges, flagrantly disregarding court orders The spokesperson decried the fact that everyone associated with the PTI had been stripped of their basic constitutional rights, characterising the present situation in Pakistan as an orchestrated sequence of injustices Drawing attention to Article 10-A of the Constitution which guaranteed every citizen the fundamental right to a fair trial the spokesperson lamented that the former premier was languishing in jail on false charges, as over 200 baseless cases against him were systematically pursued without due regard for the Constitution and justice “Imran Khan’s hearings are capriciously postponed at the eleventh hour with no plausible justification and he is remanded without being presented in court Meanwhile, the PTI Core Committee called for the establishment of a high-powered judicial commission to investigate the information contained in a news report by the international publication ‘The Intercept’, with an insistence on full disclosure of the facts to the nation

The PTI Core Committee characterised the content of The Intercept news report as deeply concerning asserting that it shed light on matters directly pertaining to Pakistan s foreign policy, international agreements, and national security In light of the publication of the purported text of a secret letter from the Pakistani ambassador to the United States the committee stressed the urgent need to ascertain the veracity of the claims presented in The Intercept In the report the committee highlighted that disconcerting assertions had been made regarding agreements with the IMF lending credence to the PTI chairman s suspicions regarding a conspiracy for regime change

Gujranwala, Quetta, Hyderabad, Sukkur, Multan, and Peshawar Across these six DISCOs the benefits in terms of just electricity units given to retired employees stand at an average of Rs 664 million per year from 2017 to 2025 Why aren’t they ending free units?

According to sources, the caretaker premier, during the course of a federal cabinet meeting stopped the authorities concerned from terminating the free electricity facility of the government officials ostensibly owing to fear of protest by the government employees They said that the PM believes that such a step will likely open a new window of agitation and litigation

They said the PM has directed the Minister for Power Minister for Commerce and Minister of Finance to deliberate on the Monetization of Free Electricity Units Admissible to Employees of WAPDA (Water & Power Development Authority), and ex-WAPDA companies (Power Distribution Compa-

NEW YORK S ta f f R e p o R t

Foreign Secretary Syrus Qazi has said that Pakistan was not surprised by Canada s revelations that the Indian government was involved in the killing of Sikh leader Hardeep Singh Nijjar in British Columbia in June this year Qazi, who is accompanying caretaker Prime Minister Anwaar-ul-Haq Kakar on a five-day visit to the US to attend the 78th UNGA session stated this during a media briefing at the Pakistan mission in UN on Wednesday India s terrorism in Canada is not a matter of surprise for Pakistan, the top diplomat remarked

The foreign secretary said Pakistan did not find anything unusual in the Canadian PM’s allegations as Pakistan had arrested a serving Indian naval officer Kulbhushan Yadav an operative of the Indian Research and Analysis Wing (RAW) from Balochistan in March 2016 The Indian spy was later sentenced to death after he was found guilty of espionage and terror activities to destabilise Pakistan

On Monday, Canadian Prime Minister Justin Trudeau made a startling revelation about the Indian role in the Sikh leader s killing during a speech at an emergency session of the assembly

Over the past number of weeks Canadian security agencies have been actively pursuing credible allegations of a potential link between agents of the government of India and the killing of a Canadian citizen Hardeep Singh Nijjar ” Trudeau said addressing the

LAHORE

S ta f f R e p o R t

Lahore High Court (LHC) Chief Justice Muhammad Ameer Bhatti on Wednesday gave the Punjab IG Police the last opportunity” to recover missing anchorperson Imran Riaz Khan by September 26 saying “The level of my patience has reached to the brim it is contempt of the court order

Later, the court adjourned the proceedings in a petition demanding his recovery till then Imran Riaz a YouTuber and television anchor was arrested on May 11 from Sialkot Airport under 3 MPO two days after violent protests erupted across the country following PTI Chairman Imran Khan s arrest on May 9 He was last known to be taken to Cantt police station after his arrest and later to the Sialkot prison On May 15 a

nies (DISCOs) Power Generation Companies ( GENCOs) National Transmission and Despatch Company (NTDC) Power Information Technology Company (PITC) and give recommendations in this regard Also, the caretaker PM thinks that factors like power theft purchase of capacity payments to IPPs inadequate inter-Ministerial coordination circular debt etc were all responsible for the increase in electricity bills, said sources well-aware of the development regarding the issue of Monetization of Free Electricity Units Admissible to Employees of WAPDA and ex-WAPDA companies

digital banking and financial inclusion in Pakistan

This approval is a recognition of HugoBank’s potential and a testament to SBP’s forward-thinking vision for financial services for the nation

We congratulate all DRB aspirants who have been awarded the IPA by the SBP HugoBank is now prioritising its operational preparedness in accordance with SBP’s guidelines for Digital Banking licensing The bank aims to first launch a pilot for the general public followed by a full commercial phase

KT BANK

KT Bank is a joint venture between two Pakistani companies Fatima Fertilizer and City School and Nigerian-origin fintech KudaBank Speaking at the event, KT Bank shared plans that it has laid out which included introducing tailored solutions for 8 educational institutions solutions for farmers access to the latest technology and solutions for agri-research funding

MASHREQ BANK

Fernando Morillo, SEVP Group Head of Retail Banking at Mashreq Bank, said “We’re thrilled at the opportunity In terms of building the right infrastructure and system and a massive population willing to embrace the future there are perhaps one or two countries like Pakistan in the world It is hard to see countries where regulation is so clear and progressive ”

Tax Dept registers FIR against two over money laundering in solar panels’ impor t

g Senate body directs FBR to take strict action against offenders under Anti-Money Laundering Act

ISLAMABAD

S h a h z a d pa R ac h a

Chairman Federal Board of Revenue (FBR) disclosed on Wednesday that the tax department registered a First Information Report (FIR) against two importers on the allegation of money laundering These importers were able to do it in the import of solar panels worth Rs 69 billion This information was revealed in the meeting of the Senate’s Standing Committee on Finance and Revenue The meeting was held under the chair of Senator Saleem Mandviwalla The Committee showed displeasure over the absence of Caretaker Finance Minister as she was supposed to brief the committee on the economic situation and challenges faced by Azad Jammu and Kashmir (AJ&K) The Chairman of the Federal Board of Revenue (FBR) and his team shedding light on reports of massive money laundering worth Rs 69 billion by Solar Panel Importers said that as a result of the audit two FIRs have recently been lodged against M/S Bright Star Business Solution (Pvt) Ltd and M/S Moonlight Trader (SMC) Pvt Ltd as these two importers were involved in over-invoicing obstruction of audit and using illicit funds for imports in violation of Customs Act 1969 He said that out of the total solar panel s imports of Rs 69 billion only Rs 45 billion were sold in the market The committee was informed that solar was imported from one country and payment was made in another country

House of Commons about an extremely serious matter,” after informing the opposition party leaders

Reacting to Canada’s revelations the foreign secretary said: “What happened in Canada did not surprise us He added that there must be some truth to the allegations levelled by the Canadian PM

Referring to Kulbhushan Jadhav the foreign secretary said the Indian spy was involved in activities to destabilise Pakistan

“If anyone in the world is aware of Indian [activities] it is us [Pakistan] ” he said The top diplomat also said that New Delhi was committing state terrorism in Indian Illegally Occupied Jammu and Kashmir (IIOJK)

A day earlier former foreign minister and Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari urged the international community to accept that India is a “rogue, Hindutva and terrorist state” after Canada’s “huge allegations” “This is a huge allegation India has been exposed before the world And for how long international and our friends in the West would continue ignoring such acts of India the PPP chief added

Speaking about PM s US visit the foreign secretary said the caretaker prime minister will discuss all i s s u e s i n c l u d i n g K a s h m i r i n h i s a d d r e s s t o t h e U N General Assembly He said the PM attended the reception and opening session of the UN General Assembly in New York

The prime minister s meeting with the Iranian president was held in a cordial atmosphere Qazi said adding that the foreign minister also held important meetings on the sidelines

law officer told the court that the anchorperson was released from jail after taking an undertaking in writing His whereabouts remain unknown

Subsequently a first information report (FIR) of Imran s alleged abduction was registered with Sialkot Civil Lines police on May 16 on the complaint of the anchorperson’s father, Muhammad Riaz

The FIR was registered against “unidentified persons” and police officials for allegedly kidnapping Imran invoking Section 365 (kidnapping or abducting with intent secretly and wrongfully to confine person) of the Pakistan Penal Code

The journalist’s father also filed a plea in the LHC for his recovery

In the previous hearing on September 13 about a week after he had promised good news Punjab Inspector General (IG) Dr Usman Anwar had told the court that the investigation was

FM, US Special Representative on Afghanistan discuss issues of mutual interest

ISLAMABAD S ta f f R e p o R t

Foreign Minister Jalil Abbas Jilani was called on by

the US Special Representative for Afghanistan Thomas West on the sidelines of the 78th Session of the UN General Assembly in New York During the meeting of the Foreign Minister and US Special Representative for Aghanistan, issues of bilateral interests came under discussion Speaking on the occasion Jalil Abbas reiterated Pakistan s commitment to a stable, peaceful, prosperous and regionally connected Afghanistan He stressed the need for continued engagement with the Interim Afghan Government (IAG) to ensure progress on priorities for the international community, as well as to explore possible avenues for Afghanistan’s reconstruction, revival of its economy and adequate and sustained humanitarian support for the Afghans in need The two sides agreed on the need for continued cooperation aimed at achieving lasting peace and stability in Afghanistan

“going in the right direction”

LHC Chief Justice Muhammad Ameer Bhatti presided over the hearing of Riaz s petition while Punjab IG Police

Usman Anwar and Imran Riaz s counsel

Mian Ali Ashfaq appeared before the court At the request of the Punjab IG to be given time till next week, the court granted him time till September 26 and adjourned the hearing till then

The court order issued later stated

This last opportunity on the request of IG Punjab is granted to produce the detenue namely Muhammad Imran Riaz failing which proceedings will be initiated in accordance with law

THE HEARING

At the outset of the hearing Justice Bhatti asked the Punjab IG where the abductee was to which the latter replied There has been a meeting of the joint working group There will also be another meeting The LHC CJ then said

that in his opinion, “proceedings should be started now” against the police, at which IG Anwar requested the court to give him a chance

Here Justice Bhatti remarked It has been five months now My patience has run out It is the last time, you are given opportunity to recover Imran Riaz, if you fail to produce him in court, we will issue the court order ” Chief Justice Ameer Bhatti said “Our patience has also ended petitioner s lawyer told the court If you are giving them time give them only 24 hours he said

Give me time for compliance of the court order, IGP pleaded Mr IG, we have given you as much time as five months ” chief justice said

The IG informed the court that the provincial intelligence chief was not present in Lahore hence the working group s next meeting will be held on Friday (September 22)

‘Patience runs out’: LHC gives Punjab IGP ‘last oppor tunity ’ to recovery Imran Riaz by 26th

‘ We k now India, not surprised by Canadian allegations’: Pak istan