Epaper_23-09-23 KHI

I N U N G A S P E E C H , P M K A K A R U R G E S

W O R L D T O C O U N T E R H I N D U T VA FA S C I S M

g CONDEMNS ASSASSINATION OF SIKH LEADER ON CANADIAN SOIL

PR I M E Minister Anwaarul Haq Kakar on Friday urged the world to counter all forms of terrorism without discrimination including Hindutva fascism in India

Addressing the 78th session of the United Nations General Assembly (UNGA) in New York, he emphasised that the approach against terrorism should encompass addressing the growing menace posed by “far-right and fascist groups including Hindutva-inspired extremists

Condemning the assassination of Sikh leader Hardeep Singh Nijjar on Canadian soil, attributing it to Indian agents, he declared his government s intent to bring this matter to various international fora to reveal the true face of New Delhi

In the opening remarks of his address PM Kakar emphasised the convergence of global leaders on a tense and pivotal moment in history, referring to the ongoing Russia-Ukraine conflict and simmering international tensions among major powers

We see [the] rise of old and new military and political bloc Geopolitics is resurging when geo-economics should have primacy, he said

The premier reflected on the farreaching commitments forged during Thursday’s climate summit all aimed at the realisation of sustainable development goals (SDGs)

He urged for the materialisation of these commitments, emphasising the imperative of rechanneling dormant special drawing rights toward developmental initiatives alongside the resolution of indebtedness challenges faced by 59 na-

g TERMS ISLAMOPHOBIC ATTACKS

Nawaz insists on punishment for ‘swindlers’ who toppled his gov t

nomically integrated region We believe that regions develop together, therefore, we desire peaceful and productive relations with all neighbours including India ” he further said

The resolution of the Kashmir dispute is crucial to resolve all conflicts between Pakistan and India The UN should implement its resolutions to resolve the Kashmir dispute ” He said that India is promoting extremism in the region and RSS terrorists are a threat to Muslims and Christians in India

The premier said that regional peace is linked to the establishment of peace in Afghanistan PM Kakar said that humanitarian aid to Afghanistan must be continued

Former prime minister and Pakistan Muslim LeagueNawaz (PML-N) supremo Nawaz Sharif has said that Pakistan will not be able to move forward until all the characters of the conspiracy hatched in 2017 against his government are brought to justice

During a meeting with his brother former prime minister Shahbaz Sharif former finance minister Ishaq Dar and his daughter Maryam Nawaz among other party leaders in London Nawaz asserted that the 2017 conspiracy had pushed Pakistan to the brink of ruin and imposed a group of individuals he described as “swindlers” on the nation Sharif once again criticised various key figures including former army chief Gen (r) Bajwa ex-ISI chief Gen Faiz Hameed former chief justice Saqib Nisar Justice Asif Saeed Khosa Justice Azmat Saeed and Justice Ijazul Ahsan, as criminals of Pakistan

tions entrenched in financial distress

The prime minister underscored Pakistan s multifaceted challenges encompassing food security fiscal stability and energy resource availability, characterising them as a poignant exemplification of the formidable impact exerted by the confluence of the Covid-19 pandemic, global conflicts and the pervasive effects of climate change on developing nations

In this vein he mourned Pakistan as one of the countries, most severely affected by the ramifications of climate change

The premier lamented the catastrophic floods of the previous year, which submerged one-third of the nation resulting in the tragic loss of 1 700 lives the displacement of over eight million people the devastation of critical infrastructure, and economic losses exceeding $30 billion

“We are gratified by the commitment of over $10 5 billion for the comprehensive plan for recovery rehabilitation reconstruction with resilience PM Kakar assured that the govern-

RAWALPINDI S TA F F R E P O R T Chief of Army Staff (COAS) General Asim Munir met the army chief of Saudi Arabia General Fayyadh Bin

Hamed

During the meeting both sides deliberated upon various areas of mutual interest, bilateral cooperation including defence and security matters the military s media affair wing said

It added that the delegation also met Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza at the Joint Staff Headquarters earlier today

The Saudi delegation’s visit to Pakistan comes days after COAS Munir had apprised the business community of Saudi Arabia’s decision to invest $25 bln in Pakistan under the Special Investment Facilitation Council (SIFC) aimed at attracting investment in the agriculture sector by offering land and ensuring exports

Earlier this year, the army chief had also visited Madina where he met the Saudi crown prince and discussed ways to improve bilateral ties between the two countries

During the visit Gen Munir had also met Saudi Defence Minister Prince Khalid bin Salman and discussed the ways of strengthening cooperation between the two countries

The leaders had discussed military and defence cooperation and ways to support and enhance them along with important regional and international issues of common interest

ISLAMABAD

Senior Pakistan Muslim League-Nawaz (PML-N) leader Rana Sanaullah on Friday said that his party had supported the extension for former army chief Gen (retd) Qamar

Javed Bajwa to tackle the political onslaught by Pakistan Tehreek-e-Insaf (PTI) Chairman

Imran Khan

Some decisions are part of a strategy as per the requirements of that time and this [Gen Bajwa’s extension] was one such decision ” he said during an interview with a private TV channel

He termed the decision to support Gen Bajwa s extension in 2020 as a tactical manoeuvre by the party to combat what he referred to as the fitna or anarchy being inflicted upon the nation

This marked Sanaullah’s second consecutive public denunciation of the former military leadership within just two days

ment remained steadfast in its dedication to swiftly restore economic stability bolster foreign exchange reserves and currency strength enhance domestic revenue generation, and foster substantial domestic and international investments

On Palestine, the premier lamented the continued cycle of adversity, marked by Israeli military incursions aerial bombardments the expansion of settlements and the forced eviction of Palestinians

He emphasised that the establishment of lasting peace could only be achieved through the implementation of a two-state solution

The prime minister called upon the world s major powers to encourage India to embrace Islamabad s proposal for mutual restraint in the deployment of strategic and conventional weaponry He emphasised Pakistan’s steadfast commitment to fostering peaceful relations with all of its neighbouring countries

He said that peace serves as the bedrock for development and Pakistan was situated within the world s least eco-

He added that outlawed Tehreek-iTaliban Pakistan (TTP) and other terrorist outfits are using Afghan soil to launch attacks on Pakistan He said that Pakistan strongly condemns the cross-border attacks and will continue to take actions indiscriminately against all terrorist groups PM Anwaarul Haq Kakar said due to Islamophobia Muslims around the world are being attacked and the incidents of the Holy Quran desecration are happening He added that the Islamophobic attacks are one of the major hurdles in global development He also condemned the Israeli atrocities on Palestinians Pakistan is concerned at Israeli atrocities on Palestinians

The establishment of an independent Palestinian state is necessary for peace ”

“Pakistan will fully cooperate with the UN for a peaceful world The wars must end to bring peace and prosperity to the world

He also demanded to devise a global anti-terrorism strategy

Fi n a n c e M i n i s t e r s u g g e s t s l i s t i n g o f G o v t d e b t s e c u r i t i e s a t P S X t o d e v e l o p d e b t m a r ke t

The Federal Minister for Finance & Revenue Dr Shamshad Akhtar said that the securities market can play a vital role in the development of the debt market through the listing of Government debt securities on PSX

Speaking at the inauguration ceremony of the Centralized Gateway Portal, Dr Akhtar said that the issuance of securities through public auctions at PSX will facilitate retail participation, provide greater transparency channelize savings and promote the debt market in Pakistan The SECP PSX and other stakeholders need to extend concerted efforts to enable efficient implementation of these reforms

The Minister formally inaugurated the Centralized Gateway Portal, a unique financial initiative simultaneously onboard investors and customers in the securities market the NBFC sector and the insurance industry The CGP also offers standardized one-time KYC requirements across different asset classes The SECP Chairman Akif Saeed and Badiuddin Akber, Chief Executive Officer at CDC also spoke at the launching ceremony

She highlighted that one of the key issues undermining the growth of capital markets is the lack of liquidity which is directly attributable to the small number of investors She believes that the Centralized Gateway Portal can provide the impetus for the much-needed growth of our investor base

Dr Shamshad appreciated that the CGP provides immense opportunities to investors and great convenience to market intermediaries by removing duplications and streamlining the customer onboarding process She appreciated SECP for its efforts and constructive reforms for facilitating investors onboarding, with the potential of trans-

A day prior to this statement, he also criticised former generals Bajwa and Faiz Hameed branding them as “national criminals” and calling for punitive measures against them

The way the PML-N brought Gen Musharraf to justice, it will do the same to [both men], he had said on Wednesday

Earlier, another party leader Khurram Dastgir Khan had blamed some former judges of the Supreme Court and ex-military generals for the current wave of inflation and inflated electricity bills

The group of judges who had disqualified Nawaz Sharif in 2017 is responsible for the inflation as [the decision] dealt a blow to Pakistan’s economic stability and democracy ” PML-N’s former energy minister Khurram Dastgir Khan said T h i s g r o u p w a s s u p p o r t e d b y ( f o rm e r a r m y c h i e f ) G e n e r a l B a j w a a n d ( e x -

G I S I ) G e n e r a l F a i z w h o i m p o s e d I m r

forming the landscape of Pakistan s capital markets

However, Shamshad said the successful launch of the CGP should not be deemed the end of this project Having developed this promising digital platform we are now faced with the critical part of realizing the potential it offers This requires focused marketing efforts and promotion on the part of the PSX and other stakeholders like brokers insurance companies and AMCs, she added

Attracting new investors in the capital market should be one of our primary objectives going forward which requires coordinated efforts from all Capital Market Infrastructure Institutions (CMIIs) as well as the market intermediaries especially the brokerage houses under the guidance of SECP

In addition to the demand-side aspects linked to market liquidity, she suggested concentrating on the supply side simultaneously In this regard, it is vital to channel efforts towards increasing the number of Initial Public Offerings (IPOs) on Pakistan Stock Exchange (PSX) A greater supply of securities in the market shall enhance liquidity enabling the generation of higher trade volumes She asked the SECP and PSX to work aggressively for creating awareness, making the listing process efficient and facilitating businesses in utilizing the stock exchange for capital formation PSX should maintain an IPO pipeline to ensure maximum results and again targets should be assigned in consultation with the CTIs

The three-time prime minister s assertion that Pakistan cannot move forward until all those involved in the alleged conspiracy are brought to justice has added a new dimension to the already complex political climate in the country Sharif s comments have ignited discussions regarding the legal implications and potential repercussions of these claims

However, the PML-N leadership has remained tightlipped about the reasons behind Shehbaz Sharif ’s abrupt departure to London shortly after his return to Pakistan This sudden move has fueled rumours of a possible change in Nawaz Sharif s travel plans leaving many within and outside the party questioning the true purpose of this unscheduled meeting Party leaders in Lahore have attempted to quell speculation by stating that there have been no alterations to Nawaz Sharif ’s planned return to Pakistan on October 21 They maintain that preparations to welcome their leader are ongoing as scheduled

Nevertheless some party insiders have raised concerns and speculations about the motive behind Shehbaz Sharif s swift return to London One Member of the National Assembly (MNA) from Punjab suggested that Shehbaz might have departed to convey a message from influential entities within Pakistan s power structure although there has been no official confirmation of such communication

Another party leader speculated that the urgency of the London meeting might be related to the PML-N s legal strategy This could involve seeking relief from the courts in light of the appointment of a new chief justice and a potential willingness of the establishment to engage in reconciliation

Adding a further layer of complexity to the situation there have been rumours of former PML-N members contemplating the formation of a new political party, which has added to the intrigue surrounding the party’s internal dynamics

No change in Nawaz Sharif’s homecoming plan: Shehbaz

LONDON

S TA F F R E P O R T

Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif has said that he had arrived in London to discuss his brother Nawaz’s legal and political steps ahead of his arrival in Pakistan on October 21

The former prime minister spoke to the media after holding important talks, attended by Nawaz Sharif, Maryam Nawaz, Ishaq Dar, Talal Chaudhary and others at the Stanhope House in the British capital

Both Maryam and Shehbaz had reached London late on Thursday night Shehbaz made it clear that there was zero substance in the speculations that were going rounds that he had rushed to London, days after reaching Lahore, with a special message for his elder brother The reports had suggested that he had a “special meeting in Gujranwala” earlier this week where he had received that message

The former prime minister said he was in London on Nawaz s instructions to discuss important matters including the next legal administrative and political steps of the Sharif family and the PML-N and we have made decisions He added that the reports were false and speculative "Nawaz Sharif will return to a resounding welcome in Lahore and then address the nation at a rally at Minar-e-Pakistan where he will present the party s plan to tackle poverty unemployment and improve the economic situation

C O N T I N U E D O N PA G E 03

a f t e r a l o n g c o n s p i r a c y, D a s t g i r s a i d , a d d i n g t h e P M L - N ’s t r a c k r e c o r d o f t a ki n g t h e c o u n t r y o u t o f e n e rg y - r e l a t e d c r is i s w a s “ s u p e r b ”

PTI c alls for stric t accountabilit y of ‘regime change’ conspirators

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) reiterated the demand of taking to account all the malicious characters involved in the regime change conspiracy as PML-N leader Rana Sanaullah s confessional statement further testified and endorsed the PTI Chairman Imran Khan s stance regarding the heinous objectives of the plot Reacting to Rana Sanaullah’s statement regarding PML-N’s vote in support of the extension of former COAS Gen Qamar Javed Bajwa and the conspiracy against PTI elected government PTI spokesperson termed his assertion as an endorsement of PTI Chairman s standpoint pertaining to the heinous objectives of regime change conspiracy and heinousness the characters involved in it

but his younger brother, former PM Shehbaz Sharif has lauded the former army chief ’s services when he bid farewell to him in November 2022

He said that the reality of the conspiracy behind closed door against the elected democratic government in the country and the characters involved in the plot became unfurled before the nation from every angle PTI spokesman revealed that the entire related details of the broad daylight robbery on the mandate of democracy and the people were being presented before the nation by the conspirators themselves one after another

He recalled that the defense minister of the then PDM government had openly and explicitly admitted that the undemocratic and non-political elements were engaged in conspiracies against the elected PTI government from the day one PTI spokesperson went on to say that “The Intercept” published the content of the secret message sent by the Pakistani ambassador to the United States exposed the factors behind the regime change conspiracy to the world

He lamented that despite the strong insistence of the former prime minister, a high-level judicial inquiry of the conspiracy was avoided under a well-conceived scheme in order to shield the conspirators and facilitators S TA F F R E P O R T

PML-N backed Gen Bajwa’s extension to ‘get rid of fitna’: Sanaullah

ONE OF MAJOR HURDLES IN GLOBAL DEVELOPMENT

L H C R E J E C T S R AW A L P I N D I P O L I C E R E P O R T O N

S H R A S H I D ’ S ‘ K I D N A P P I N G

RAWALPINDI S tA f f r e p o r t

THE Lahore High Court Rawalpindi

bench on Friday declared the police report on the alleged disappearance of Awami Muslim League (AML) chief Sheikh Rashid Ahmed as unsatisfactory and summoned the RPO Rawalpindi in person on September 26

LHC Rawalpindi bench Justice Sadaqat Ali Khan presided over the hearing on a petition filed for recovery of Sheikh Rashid Ahmed, his nephew Sheikh Shakir and staff member Sheikh Imran

The court rejected the Rawalpindi police report as unsatisfactory and summoned the RPO Rawalpindi in person on September 26

How it can be that a former minister and two others went missing from the city and the police have no knowledge of the matter, remarked Justice Khan during the hearing

The CPO Rawalpindi informed the court that Sh Rashid was arrested from Islamabad

’

We have no knowledge about it, said the CPO Expressing its surprise, the court said how it could be possible that the police did

not know

The court further remarked that police report expressing ignorance was flawed and rejected it as unsatisfactory The LHC bench directed RPO Khurram Ali to appear in person before court on September 26 along with relevant details

‘LAL HAVELI SEALED’

T h e E v a c u e e Tr u s t P r o p e r t y B o a r d

( E T P B ) o n T h u r s d a y h a d s e a l e d L a l

H a v e l i u s e d b y Aw a m i M u s l i m L e a g u e ( A M L ) c h i e f S h e i k h R a s h i d A h m e d

P o l i c e a n d F I A p e r s o n n e l a s s i s t e d t h e

ETPB in sealing the place

ETPB Deputy Administrator Asif Khan completed the operation and sealed the main doors of Lal Haveli without any hindrance reclaiming the property allegedly on the orders of the Supreme Court

During the operation the ETPB sealed off seven shops, including the ground floor of Lal Haveli, AML s public secretariat,

SC reshuffles administrative officials

ISLAMABAD

S tA f f r e p o r t

The Supreme Court of Pakistan (SC) on Friday announced reshuffling in its administrative personnel The apex court after approval by Chief Justice Qazi Faez Isa issued notifications regarding transfers According to the notification, Amer Saleem Rana a District & Sessions Judge (grade 21) serving as additional registrar (grade 21) on deputation has been repatriated to his parent department the Lahore High Court The services of Munawar Ali, a senior civil judge (grade 19), working as deputy registrar (grade 20) on deputation, have been returned to his parent department, the Sindh High Court, Karachi In a subsequent notification Muhammad Akram Soomro a senior auditor (grade 17) serving as assistant accounts officer (grade 17) on deputation in SC is slated to return to his parent department the Accountant General Pakistan Revenues, Islamabad, on September 22, 2023 Lastly, Muhammad Owais, a senior civil judge-cummagistrate (grade 19) who had assumed the role of deputy registrar (grade 20) on deputation is set to return to the Lahore High Court effective September 22 2023

Fatima murder case: Police ‘arrest’ Pir Fayyaz Shah

KHAIRPUR

S tA f f r e p o r t

Police on Friday arrested Pir Fayyaz Shah, coaccused in the murder case of child maid Fatima Phuriro in Ranipur, Khairpur The 10-year-old Fatima had died in the Haveli of Asad Shah and the video of her tragic death went viral on social media According to media reports Fayyaz Shah was taken into custody when he was going back to his haveli after addressing a press conference On Thursday, an anti-terrorism court granted five days of physical remand of accused Asad Shah and co-accused, Imtiaz

Meerasi in the murder case of child maid

Fatima Phuriro Earlier police released four accused including SHO Ameer Chang Dr Fatah Memon and Dr Ali Hasan Wasan in the murder case of Fatima Phuriro who died in the Haveli of Ranipur The investigating officer claimed that the suspects were set free as they were not named in the FIR Ejaz Khaskhali a driver of Hina Shah was arrested from Karachi by Khairpur Police while 11 others were also taken into custody from Asad s residence The postmortem report of Fatima confirmed that the minor maid was sexually abused, according to DIG Sukkur Javed Jiskani

guest room, political sitting room, Rashid s bedroom on the second floor, hall and other rooms were sealed during the operation

‘HEARING OF PLEA AGAINST

LAL HAVELI SEALING’

Meanwhile Justice Chaudhry

Muhammad Iqbal of the same court rejected the request to immediately de-seal Sh Rashid s residence Lal Haveli

Instead, the court fixed the matter for hearing on September 26 and summoned the Punjab Evacuee Trust Property Board (ETPB) chairperson and Rawalpindi deputy administrator directing them to bring their respective reports on the matter

The bench directed the petitioner to await the reports of the respective departments before seeking further action

T h i s p e t i t i o n w a s b r o u g h t b e f o r e Justice Iqbal due to Justice Jawad Hassan b e i n g o n l e a v e T h e p e t i t i o n e r h a d s u b m i t t e d t h a t L a l H a v e l i i s o w n e d b y S h e i k h R a s h i d s e l d e r b r o t h e r S h e i k h Siddiqui and was registered in 1988 It is i l l e g a l t o s e a l i t , a rg u e d t h e p e t i t i o n e r,

s e e k i n g a c t i o n a g a i n s t t h e E T P B chairperson MINISTER GOES ‘MISSING’ Head AML Sheikh Rashid was at his home in a private housing society on the outskirts of Islamabad on Sunday (September 17) when purported Rawalpindi Police personnel along with some plainclothesmen, raided the place and detained him and three others Sources in the police revealed that after the arrest, the AML chief was transferred

from Islamabad to Rawalpindi Sheikh Rashid s native town, amid heightened security

However, in a statement issued later that night a spokesperson of the Rawalpindi Police denied the arrest and claimed Rashid was not in their custody

Shortly after Rashid s lawyer Sardar Abdul Razzaq, issued a video statement, asserting that Rawalpindi Police had indeed detained his client from his residence in the Lohi Bher area

SCCI demands pragmatic steps to promote Islamic bank ing in KP

PESHAWAR A z i z B u n e r i Sarhad Chamber of Commerce and Industry (SCCI) acting president Ijaz Khan Afridi stressed the need for pragmatic steps for promotion of Islamic Banking and Finance System

Also he called for making schemes that have been introduced by commercial banks to be brought on Islamic banking system in a real sense in order to ensure easy access of the people attached with various businesses

Ijaz Afridi was speaking during an awareness seminar on ‘Islamic Banking and Finance for Business Community jointly organized by the Bank of Khyber (BoK) and IMSciences Peshawar in collaboration with the SCCI here at the

chamber s house on Friday Keynote speakers at the seminar include the BoK Sharia Compliance Department official/ Sharia Scholars Abdul Haleem Khan Mufti Fazal Hakim and IMSciences faculty member Dr Adnan Malik

Besides, officials and representatives from IMSciences and BoK, notably M Ali Yousafzai, Shahab M Khattak, Sardar Gul, former senior vice president Imran Khan Mohmand Secretary General SCCI Sajjad Aziz former vice president Abidullah Yousafzai former executive members Ihsanullah, Fahad Amin, and Saddar Gul, Ishtiaq Muhammad Fazal Wahid and Aqeel Kayani, a large number of members of business community were present during the awareness session

During the seminar Sharia scholars

and officials from IMSciences and BoK briefed participants about various modes of Islamic Banking and its significance through their comprehensive multi-media presentation

The experts said the tendency of Islamic banking system has not increased in Pakistan but it has played a vital role in global economic development

The speakers called upon the business community to take full benefits from schemes launched under Islamic Banking System and contribute their share in promotion of interest-free economy in the country Ijaz Afridi in his speech informed that Pakistan’s Islamic Financing has been increased by 20 per cent in the banking sector and State Bank of Pakistan (SBP) is striving to increase this share to 35 per

Mir waiz calls for dialogue to resolve Kashmir dispute

SRINAGAR

S tA f f r e p o r t

In Indian illegally occupied Jammu and Kashmir the All Parties Hurriyat Conference senior leader Mirwaiz Umar Farooq, has called for dialogue to resolve the Kashmir dispute peacefully

According to Kashmir Media Service, Mirwaiz Umar Farooq addressing a gathering at the Jamia Masjid in Srinagar today after his release from over four years of house detention emphasized that Jammu and Kashmir dispute should be seen as a humanitarian issue rather than just a territorial one

He said the APHC believes that the Kashmir dispute needs to be resolved Jammu and Kashmir issue can be a territorial issue for many, but for the people of Kashmir it is a humanitarian issue he added

The Mirwaiz while reacting to the Indian Prime Minister Narendra Modi s statement on the Ukraine issue said that Modi was right in saying that the present era is not of war He said, we too have been advocating for the resolution of J&K issue through dialogue He said, following the path of peace, we had to bear difficulties, but unfortunately, we were branded as separatists, antiIndia and anti-peace But we don’t have any personal ambition we only want peaceful resolution of J&K issue he said It is because of our peaceful mission that we continued to appeal for the return of Kashmiri migrants

NAB submits more record of graf t c ases to accountability cour ts

In compliance with the Supreme Court order, the National Accountability Bureau keeps submitting the records of erstwhile

he added The Mirwaiz termed his house detention as the most difficult period of his life since his father s assassination in May 1990

“I was allowed to deliver sermon on the pulpit of Jamia Masjid after 212 consecutive Fridays People are aware that after August 04 2019 I was kept under house detention and I was not being allowed to move out of my home due to which I couldn t perform my duties as Mirwaiz he said

The Mirwaiz said that after approaching the court, a few police officers visited him yesterday and informed that he is being released and can visit Jamia Masjid tomorrow to offer Friday prayers

I cannot utter my sentiments but it is all because of the prayers of people that I am here again to deliver the sermon, he said, adding that it was quite difficult for him to stay away from the pulpit for four years

He said that after August 5, 2019, people have faced difficult times as J&K’s special identity was snatched and was bifurcated in two Union Territories As a Mirwaiz I have the responsibility to raise the voice for the people Since Hurriyat Conference continued to raise the voice but the media stopped using our statements I want to tell my people that it is the time to be patient, to keep faith in the Almighty,” he said

The Mirwaiz also demanded release of all political prisoners journalists lawyers civil society members and the youth as well

cent, he added

The SCCI acting chief urged the central bank to issue directives to banks to maximize focus on promoting Islamic Banking in Khyber Pakhtunkhwa

Besides he emphasized that banks should be instructed to enhance the lending ratio and financing facility for the business community in KP – which had been adversely affected by terrorism

He emphasized that it is in dire need of hour to promote an interest-free banking and financing system which could only be made possible with fostering of Islamic Banking

He called for organizing further awareness sessions for the business community regarding Islamic banking and finance and appreciated the efforts of BoK and IMSciences in this regard

NAB, FIA chiefs agree to strengthen strengthen accountabilit y

ISLA MA BA D S tA f f r e p o r t

National Accountability Bureau (NAB) Chairman LtGen (r) Nazir Ahmad and FIA Director General Mohsin Hassan Butt held a meeting on Friday to strategize improved cooperation and coordination in accountability, investigations, and organizational capacity-building In a statement posted on social media platform X it was announced that NAB Chairman visited the FIA Headquarters for discussions on crucial matters A few days ago, the National Accountability Bureau (NAB) sent back references against politicians to accountability courts after Supreme Court struck down some sections of the amendments made to the National Accountability Ordinance (NAO) last year It is pertinent to mention here that the Supreme Court ordered restoration of corruption cases against public representatives as it struck down some sections of the amendments made to the country’s accountability laws last year by the previous coalition government In a majority 2-1 verdict the top court approved Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan s petition challenging amendments made to the country’s accountability laws Former CJP Bandial and Justice Ahsan declared Imran s plea to be maintainable while Justice Shah disagreed with the verdict Following the verdict, the references against some of the country’s political bigwigs will once again land in the accountability courts

Per vaiz Elahi advises politicians to sec ure protec tive bails before elec tions

ISLAMABAD

S tA f f r e p o r t

PTI president Pervaiz Elahi on Friday advised all politicians to seek protective bails before general elections keeping in view the current political situation

Talking to reporters on the occasion of his appearance in the anti-terrorism court (ATC), he complained that he was sick because of jail’s meal and the medical facilities was also not up to the mark

The former Punjab chief minister said high inflation in country had almost shattered the man in the street, adding PML-N top leaders Nawaz Sharif

K A R A C H I U N I V E R S I T Y T E A C H E R S O B S E R V E B O Y C O T T O F

C L A S S E S F O R T H E I R D E M A N D S

KARACHI s ta f f r e p o r t

T

The decision to boycott classes was taken in the general body meeting of the teachers association yesterday

The association demanded that the Sindh chief minister take immediate notice of the administrative crisis at the KU and order investigations through a commission into non-approval of the university budget for six years

The participants of the meeting expressed their anger over the appointment of part-time teachers at Rs600 per lecture and the non-payment of salaries to them for over six months and a year

HE teachers association of Karachi University (KU) has announced a complete boycott of classes from today in protest of their demands on FridayAll the issues are still there as they were in the beginning We got nothing but promises and promises only From the payment of salaries to the closure of selection boards is a big issue,” they said

“The salaries of the evening shift teachers should be paid in full and immediately The selection boards should be held immediately Penal hospitals should be restored without any delay they added MPhil/PhD fee waiver should be restored immediately The restoration of the

dilapidated infrastructure of the university is urgently needed, they demanded further

“Managing the administrative matters is the rsponsibility of the vice chancellor and the management not the teachers The appointment of teachers doing PhDs as the ad hoc assistant professors which has been approved by the Syndicate, should be restored, they added

“Funds should be released immediately for the revival of research in the university

The university’s budget which has not been approved for the past six years is a financial scandal It should be investigated by a commission The raise in salaries should be included in Budget 2023 without any delay, they stated

C a n a d a h a s I n d i a n d i p l o m a t s ’ c o m m u n i c a t i o n s i n S i k h l e a d e r ’s m u r d e r p r o b e : r e p o r t

INDIA ag e n c i e s

The Canadian government has amassed both human and signals intelligence in a months-long investigation of a Sikh activist’s murder, which it has alleged was done by India, CBC News reported on Friday The unprecedented tensions flared up on Monday after Canadian Prime Minister Justin Trudeau said Ottawa was actively pursuing credible allegations linking Indian government agents to the murder of Hardeep Singh Nijjar, 45, outside a Sikh temple in British Columbia in June

The two countries whose relations have been fraying in recent years over the issue of Sikh separatists, have since announced tit-for-tat explulsions of senior diplomats and issued tit-for-tat travel advisories Indian PM Narendra Modi’s

government denied any links to the alleged murder While calling on India to cooperate with the investigation into the murder Canada said on Thursday it would not release its evidence

Traditional Canadian allies have so far taken a relatively cautious approach to the matter Analysts say this is partly because the United States and other major players see India as a counterweight to the growing influence of China

Today quoting Canadian government sources CBC News said the intelligence includes communications involving Indian officials themselves, including Indian diplomats present in Canada”

It added that the intelligence “did not come solely from Canada and some was also provided by an unnamed ally in the Five Eyes alliance an intelligencesharing network that includes the US, the UK, Canada, Australia and New Zealand

The Canadian publication went on to add that the slain Sikh leader “reportedly had been warned by the Canadian Security Intelligence Service that he was at risk

The report further said that in a diplomatic crisis that unfolded progressively behind the scenes, Canadian officials went to India on several occasions seeking cooperation” in the investigation of Nijjar ’s death

CBC News said that Canada s National Security and Intelligence

Adviser Jody Thomas was in India over four days in mid-August Another fiveday visit this month overlapped with a “tense meeting” between the two countries’ premiers it added

The report quoted Canadian sources as saying: When pressed behind closed doors no Indian official has denied the bombshell allegation at the core of this case that there is evidence to suggest Indian government involvement in the

Heav y rains expected across Pakistan till September 24

ISLAMABAD s ta f f r e p o r t

assassination of a Canadian citizen on Canadian soil ”

“I can assure you that the decision to share these allegations on the floor of the House of Commons was not done lightly CBC quoted Trudeau as stating yesterday after attending the 78th UN General Assembly in New York It was done with the utmost seriousness

Meanwhile, the US is in touch with Indians at high levels and Washington is giving India no special exemption in the matter its national security adviser Jake Sullivan said on Thursday

The United States has been seeking to strengthen its relationship with India President Joe Biden hosted Modi for a state visit at the White House earlier this year

Asked whether US concern over the incident could disrupt that process Sullivan said the United States would stand up for its principles, regardless of what country is affected

AC summons Raja Pervaiz Ashraf in rental power cases

ISLAMABAD s ta f f r e p o r t

The National Accountability Court (NAB) has started to implement the direction of the Supreme Court regarding the restoration of NAB cases

IHC suspends FIA summon issued to Bushra bibi

ISLAMABAD s ta f f r e p o r t

The Islamabad High Court (IHC) Justice Babar Sattar suspended FIA summons notice to Imran Khan s wife

Bushra bibi and sought its reply The FIA summoned

Bushra Bibi today (Friday) for voice matching in the audio leak The plea said the main case is already pending before this court and the court directed the FIA to act in accordance with the law on Sept 18 as the main case is now scheduled for hearing on October 30 Bushra bibi in her petition said that despite the case being pending, FIA issued a summons notice on September 19 and the court should suspend the FIA s notice “If the FIA continues the proceedings it will affect the rights of the petitioner Advocate Sardar Latif Khosa appeared in the court on behalf of Bushra Bibi

references was presented in Accountability Court No 1, eight in Court No 2 and 13 in Court No 3 respectively The staff of Court No 2 and 3 were also called back to duty as they were appointed in other courts following non-availability of judges The accountability court judge, Muhammad Basheer summoned Raja Pervaiz after hearing two rental power references While in Lok Wirsa embezzlement case, Rubina Khalid and coaccused were also summoned on Oct 4 The court has called for arguments in the upcoming hearing on judicial jurisdiction in the Benazir Income Support Program embezzlement case

CONTINUED FROM PAGE 01

He will present the agenda of progress and success Nawaz Sharif is the leader who took Pakistan to the path of progress and hope before, and delivered for the masses and will do so again " assured Shehbaz

The PML-N president also said the country should look at the party s performance from 2013 to 2017 when Nawaz Sharif ended 20 hours load-shedding mainstreamed CPEC, and invited billions in investment, end load-shedding in Pakistan and he brought energy and hope, he brought over $30 billion investment to Pakistan”

T h e f o r m e r P M s a i d N a w a z i s a “ r a y o f h o p e ” f o r t h e n a t i o n

He went on to say that inflation was low in Nawaz Sharif s Pakistan, GDP growth was at 6 5%, industries were flourishing, people had jobs and every segment of the society was progressing but a “cruel joke" was played with the nation when his brother was removed from power in 2017 by the Supreme Court judges

That s when Pakistan was thwarted from racing to new heights and Nawaz s mandate was stolen in a conspiracy against Pakistan The elections were rigged in 2018 and millions of Pakistanis were deprived of the path of progress Nawaz Sharif is coming back to Pakistan to start the same journey He’s coming back

as the saviour and reformer,” the PML-N president

Shehbaz said: “Imran Khan taught vulgarity to the nation Nawaz will end this poison and will educate the youth and will give them employment

He said that it was tragic that poison was injected into Pakistan s national discourse, abuse of colleagues and mentors was normalised and the culture of vulgarity was taken to an unprecedented level, which has damaged Pakistan

Shehbaz s visit comes days after videos of Nawaz calling for the accountability of former army chief Gen (retd) Qamar Javed Bajwa and ex-ISI chief Lt Gen (retd) Faiz Hamid were published by the London party headquarters on social media

However, during the press conference, Shehbaz said bringing Pakistan together and moving forward is the need of the hour “Rome was not built in a day Nawaz Sharif never over-promised or exaggerated He has always delivered on his promises

Meanwhile Maryam Nawaz in her brief media interaction, told Geo News that her father would get a historic reception in Lahore when he lands in about a month from now

When asked if there is any truth to the rumours that Nawaz will perhaps not return or will delay his return she said: These rumours will die I don t pay much attention to rumours

Pakistan Meteorological Department (PMD) Friday predicted heavy rainfall across various regions of the country from today, September 22, until September 24

The Western winds have penetrated the upper regions of the country and are poised to bring strong winds and heavy precipitation to various areas including Karachi and Hyderabad in Sindh In addition to these cities the Meteorological Department forecasts heavy rain in Sibi, Kalat, Lasbela, Kashmir, Gilgit-Baltistan, and Islamabad during these three days There is a significant risk of low-lying areas becoming inundated along with potential damage to vulnerable infrastructure due to the strong winds accompanying the rain The Meteorological Department has also issued instructions to all relevant organizations to remain on high alert It has specifically warned about the likelihood of flooding in certain low-lying areas, including Sajawal, Umarkot, and Tharparkar Furthermore, the Meteorological Department has cautioned residents and authorities in the Murree Guliyat Kashmir and Hazara divisions about the elevated risk of landslides due to the heavy rainfall It is important to note that the rainfall has already commenced in Rawalpindi and Islamabad today, with the Meteorological Department s Water and Sanitation Agency (WASA) reporting a total of 30mm of rainfall in the twin cities

Karachi: Another female faces sexual harassment in broad daylight

KARACHI

s ta f f r e p o r t

Karachi reported yet another distressing incident of a man sexually harassing a female on the street in broad daylight on Friday According to the police officials, an unknown motorcyclist harassed the female in the locality of North Karachi Sector 11-B and fled the scene The CCTV footage that emerged from the nearby residence captured the culprit s face clearly showing him sexually harassing the woman In the recent past, several cases of harassing females in broad daylight have occurred across the country especially in Pakistan Earlier, a video went viral on social media which showed a man on a red motorcycle launching a sexual assault on a woman The incident was reportedly taken place in the Gulistan-e-Johar area The CCTV footage showed the man parking his motorcycle in a street and removing his shorts Later, he tried to grab a woman passerby in the street The woman resisted and hit back the assaulting man which led him to run away from the scene immediately

Railways to shut down Shalimar Express

LAHORE s ta f f r e p o r t

Pakistan Railways has decided to shut down Shalimar Express once again due to financial crunch According to media reports the railway s administration was facing a loss of about Rs2 million daily The Shalimar Express plies between Lahore to Karachi In May 2023, the Pakistan Railways had revived the highspeed Shalimar Express passenger train after eight months To enhance the facilities for the high-speed train its 19 coaches had been reconditioned at Mughalpura Workshop Previously the train used to travel from Karachi to Hyderabad, Nawabshah, Rohri, Rahim Yar Khan, Bahawalpur, Multan via Toba Tek Singh, Faisalabad, and Lahore The decision to restart the high-speed train was taken during a meeting held on April 8 at the Lahore headquarters under the chairmanship of ex-Federal Railways Minister Khawaja Saad Rafique

Govt foc uses on attrac ting foreign investments in all sec tors of Pakistan's economy: PM

emphasized that the

NEW YORK s ta f f r e p o r t Caretaker Prime Minister Anwaar-ul-Haq Kakar has urged the US corporate sector to look at ways and means to further enhance its very long and productive relationship with Pakistan He was talking to a delegation of the USPakistan Business Council (USPBC), on the sidelines of annual session of United Nations General Assembly in New York The Prime Minister said attracting foreign investments in all sectors of Pakistan s economy is the government s top priority He said the government is focused on creating a business friendly environment and would welcome all suggestions The Prime Minister

On this occasion President US-Pakistan Business Council Ms Esperanza Jelalian congratulated the Caretaker Prime Minister on assuming office and assured that Council will continue to engage with the government of Pakistan to seek mutually beneficial ways of enhancing cooperation PM INVITES APPNA TO INVEST IN HEALTH SECTOR Caretaker Prime Minister Anwaarul Haq Kakar has invited Association of Physicians of Pakistani-descent of North America to invest in diverse sectors in Pakistan including health tourism medical paramedical education training and skill development

He was talking to a delegation of Association of Physicians of Pakistanidescent of North America (APPNA), led by its President Dr Arshad Rehan on the sidelines of the United Nations General Assembly (UNGA) session in New York Appreciating the APPNA s social welfare educational and medical relief missions and programmes in Pakistan he commended the positive role of association in spearheading the message of unity and solidarity among Pakistani-American community Terming over one million strong Pakistani-Americans as an asset for Pakistan the Prime Minister expressed confidence that Pakistani American

diaspora will continue to contribute in country s socio-economic progress through their remittances, investments and philanthropic work A n w a a r u l H a q K a k a r s a i d d i a s p o r a i s P a k i s t a n ' s f a c e i n t h e U S a n d a v a l u a b l e b r i d g e f o r f u r t h e r s t r e n g t h e n i n g P a k i s t a nU S t i e s H e a s s u r e d A P P N A d e l e g a t i o n o f g o v e r n m e n t s f i r m r e s o l v e t o f a c i l i t a t e P a k i s t a n i d i a s p o r a a l l a r o u n d t h e Wo r l d I n t h e i r r e m a r k s , t h e d e l e g a t i o n e x p r e s s e d g r a t i t u d e t o t h e P r i m e M i n i s t e r f o r t h e c a l l - o n a n d b r i e f e d h i m a b o u t A P P N A ' s c o n t i n u e d w o r k i n s o c i a l w e l f a r e e d u c a t i o n a l a n d m e d i c a l d o m a i n s i n P a k i s t a n

a c i n g b l a m e o n t h e w r o n g r e a s o n s

Controlling lawlessness needs a realisation of the real reason

Th e ease with which the law-enforcing agencies starting with the police try to deflect blame for increasing crime by blaming RAW, does not wash any more One reason is that the public is not willing to buy the claim of indian malignity, especially when the incident glaringly has some other cause This trend is countrywide with the Punjab police blaming RAW for the Jaranwala church burnings, and the Karachi police blaming it for the spate of crimes against property, particularly street crimes in recent weeks The underlying cause for both at least the Karachi street crime is the parlous economic situation it is likely that young people, unable to find employment, but who want to maintain the standard of living they became used to in more prosperous times have been committing crimes which enable them to maintain a particular lifestyle however, the police would prefer to avoid admitting this, because it would mean conceding that their superiors in government have failed to address this issue successfully

One problem with this attitude of passing the blame across the border is that it prevents an identification of the real cause, and distorts both the actual investigation as well as the recommendations the police might make to the government in short, it leads to sloppy police work it also reflects a desire to pass on the blame for an incident rather than the desire to catch the perpetrator which should be, but is not, the hallmark of police professionals it is likely that the police will move on to some other excuse, more palatable to the public, rather than pursue the real reasons for these crimes

Police forces must settle down to a less exciting time than the War on Terror, when apart from RAW, there was also the Afghan intelligence agency, which could be blamed for any police failure Those committing crimes are domestic actors who have domestic reasons it is the job of the police to identify and capture them That they have not been doing, and trying instead to shift the blame as far as possible, preferably across the border They should get down to doing their job instead of keeping the citizenry safe

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late)

Founding Editor

Yousaf Nizami Editor

M A Niazi Joint Editor Umar Aziz Executive Editor

Promoting The Pashtun Culture

Re Ly i n G framework is always taken for granted by the people that enables them to lead their lives in harmony with the established standards and their environment it is like hereditary materials transmitted from one generation to the next But it has never been static and absorbs many traits of the other global cultures culture is the broadest social structure that regulates determines, shapes and guiding the life patterns, actions, thinking and behaviors of the people consequently, people from different cultures behave differently due to different cultural traits and items

23 d September is the Pashtun culture Day which is celebrated with great zeal and zest across the globe

The day was marked as Pashtun culture Day in 2015 in the international Pashto Seminar organized in a local hotel in Quetta by the Pashto Academy Quetta

The objective behind the celebration of the day was attributed to promote Pashtun culture, making it organic and highlighting the real appearance of Pashtun culture to the world The culture day showcases the originality of Pashtun culture to the world ironically Pashtun culture has been distorted and stained by the ill-wishers of the Pashtun On this day

seminars and conferences are organized to highlight the cultural characters of the Pashtun society The speakers shed lights on the Pashto literature Pashtun history geography psychology civilization traditions and customs

Unlike the image projected and indoctrinated in the minds of the people, the Pashtuns culture is a peace and human-loving culture it respects all the other ethnic groups equally and never remained ethnocentric to criticize the other cultures The logic behind the specification of 23 d September as a Pashtun culture day is to view all the cultures including Pashtun culture in the same frame because on this day the equinox is observed where the duration of the night and day remains the same hence, other cultures will be dealt with equally without discrimination, as was argued and symbolized by Khair Mohammad Arif, one of the organizers of the seminar Pashtun loves music and traditional dance (attan) These are the integral parts of their wedding ceremonies and other contented moments They have many outstanding and popular singers showing their

tendency towards and love for peace Pashto literature as a part of Pashtun culture has always preached harmony, peace, prosperity and progress One cannot find any literary piece or folklore that could incite aggression or antagonism Unfortunately in the past few decades a misutilization of religion has led to Pashtuns being portrayed as rigid extremist conservative and creating misconceptions about their beliefs and values These traits have never been a part of Pashtun culture but have been imposed which has resultantly sabotaged the true and historical enlightened image of the Pashtun culture in the Pashtun culture there is brotherhood sincerity and care for the neighbours The guest is regarded as the blessing of God hospitality is considered as one of the core values of the culture The elders socialize their children to respect the elders, to be kind towards others, show good manners, be humble and follow the cultural norms and values strictly The Pashtuns are mostly residing in the rural areas and in this context their culture is very simple however since modern technology has diffused the cultural patterns are witnessing rapid changes which is causing in turn dissonance between the elders and youngsters The traditional patterns of food, dressing, specific turbans, home structures, ways of interactions, mode of job, wedding ceremonies, and many

Pa s h t u n r e s i d i n g i n a va s t g e o g r a p h i c a l a r e a a c ro s s t h e b o rd e r a n d t h e d i a s p o r a m ay h av e s o m e va r i a t i o n r e g a rd i n g t h e c u l t u r a l t r a i t s ; h ow ev e r, t h e m a j o r i t y o f t h e i r c u l t u r a l i t e m s a n d c h a r a c t e rs a r e s t i l l t h e s a m e I n s h o r t , Pa s h t u n c u l t u r e p ro m o t e s l ov e , u n i t y, d i v e rs i t y, h o s p i t a l i t y, a n d r e s p e c t fo r wo m e n

Modi’s fragile strategy

Name changes as par t of an elec tion campaign

in the middle of 2023 estimated at

1 428 627 663 the Muslim population at 197

Si n c e coming into power in 2014

narendra Modi and his hindu nationalist Bharatiya Janata Party party workers have been struggling to change the name of india to Bharat (actually, Bharat is the hindi name of india), which was given to the son of Dushyanta and Shakuntala, named King Bharata Modi is leading the BJP; he wants to promote the party and win laurels as done by the Awami national Party in Pakistan by changing the name of nWFP to Khyber Pakhtunkhwa A famous proverb says what lies in name (Naam mein kia rakha hy)

Mr Modi negotiated with G20 leaders at a summit fueling that theory Some scholars claimed that Modi actually wanted to reorganize the electoral calendar An election is held every five years and a new committee has been devised to recommend simultaneous elections Modi s next agenda is to transform india into something more like a european nation-state

Though some reforms of Modi are good to make india a great nation like one nation one ration card or one nation one election and one nation one tax All these reforms are in favour of hindus in hindustan india is one of the most populated countries, surpassing china

The changing dangerous intention harmed India when he star ted changing Muslim names of cities, towns and streets. However, it is a prolonged history of Muslim rulers like Mughal emperors and other Muslim rulers in the Subcontinent a few large cities like Allahabad, Ahmadabad, Hyderabad, Aligarh, and so on, show this

5 to 200 million for 2023 which is increasing at an alarming rate Bharat means a state of hindus, though other minorities are a significant threat to that identity Some scholars believe that Modi reshuffles the religious minorities, and his foreign misadventures will create internal chaos in india The Modi Agenda to convert india into Bharat means dragging the largest democracy into an unnecessary conflict zone Uppsla University Professor Dr Ashok Swain articulated that under Prime Minister Modi, india is moving towards a dictatorship rather than a democratic state The current was less secular and democratic than it ever was Dr Swain in his statement described that india is inching closer to dictatorship and there is no exception Modi s aggressive policy towards Muslims and other religious minorities plays with flames Mr Modi’s action on 5 August 2019, in occupied Kashmir was part of this dangerous game Many international scholars opined that Modi is not only a danger to internal affairs but also to external diplomacy The skirmish between china and india in Ladakh brought the two nations closer to near-lethal blows Modi s dangerous intention with Beijing was another faux pas This conflict made china more potent in the regional crisis; such action of the Modi government fractured the delicate relationship between Beijing and new Delhi Modi s dangerous intention for Pakistan was another blunder when he claimed that india had destroyed a terror camp near Balakot This was another drama of Modi’s government which was fueled by election-year nationalism in 2023 a survey was done in 180 countries about the world press freedom index in which the indian position was 161 it means there is no freedom of expression in the secular

state of india The Freedom in the World index has deprived indian citizens of political rights and civil liberties As per the economist intelligence Unit report india has been ranked as one of the flawed democracies since Modi came into power Mr Modi is trying to be a popular leader for the upcoming election in May 2024 But he is facing a critical situation from Sikhism in the Khalistan Movement and the recent movement of women labour for not creating jobs even though the indian government has claimed that india has been emerging as a faster-growing economy for the last few years, the labour force and women’s employment in india have been neglected since the previous covid-19 pandemic There is a surge in unemployment among the youth in india The unemployment in india grew to 42 3 percent as of the June 2023 report, and the credit goes to Mr Modi

The changing dangerous intention harmed india when he started changing Muslim names of cities towns and streets however it is a prolonged history of Muslim rulers like Mughal emperors and other Muslim rulers in the Subcontinent a few large cities like Allahabad Ahmadabad, hyderabad, Aligarh, and so on, show this By changing the name of these megacities and towns, Modi wants to write a new history The present status of these towns owes a debt to its glorious past of several centuries of Muslim rulers in india Modi wants to rewrite his own history but he cannot succeed in this dangerous mission in a nutshell Modi s intention for india as a fast-growing economy and one of the largest democratic states will remain in papers and stories in practice, it would not be changed; only blame the name

The writer is freelance columnist based in Islamabad He can be reached at rashidmehmoodkayani@gmail com

other things are slowly changing with the global culture in the Pashtun culture there is respect for women They have been given many rights as an elder in the family, as a mother and so on Religion as a part of culture is followed strictly and more or less every issue is viewed in the prism of religion

Joint family system and extended families are very common and still many Pashtuns favour it Language as a fundamental source of cultural communication falls under the umbrella of culture Pashto is a rich language in terms of grammar, vocabulary, proverbs and such like Much literary work has been done regarding Pashtun culture and literature UneScO declared Pashto as one of the fast-growing languages among other languages across the globe Pashtun culture encompasses a fusion of norms and values, including both individual and broader societal dimensions, which are affirmed and maintained by its adherents across diverse situations Nanawatai kambala truce tharon shamla jirga Pashtunwali (Pashtun code of conduct) are some very common traits and features of the Pashtun culture in Pashtun culture jirga has a significant role Through jirga one of the parties in a dispute approaches the other s home with a group of people to forgive him for his wrong act, which is called Nanawatai The host’s permanent forgiveness and the community’s forgiveness of murderers during jirga meetings are examples of the enlightened side of Pashtun culture Pashtun residing in a vast geographical area across the border and the diaspora may have some variation regarding the cultural traits; however, the majority of their cultural items and characters are still the same in short, Pashtun culture promotes love, unity diversity hospitality and respect for women it creates mutual harmony and intimacy among the Pashtun folks and gives a message of peace and prosperity to the other cultures

Muhammad Rahim Nasar Lecturer in the Department of Sociology University of Balochistan, Quetta Email rahimnasar83@gmail com

E d i t o r ’ s m a i l

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

Tax cer tificates

iT has been noticed that utility services do mention the amount of tax deducted, but never mention the amount paid by the consumer i have an honest and workable solution benefitting utility consumers All utility companies should be directed by the government to mention the total amount received and various taxes deducted in their July bills for the preceding year making it easier for the consumers to submit just one bill rather than all 12 bills if asked for by the authorities K-electric (Ke) tax certificates just mention tax deducted and do not mention the amount paid i wonder how and why Ke s information technology (iT) experts miss this stipulation, making the process cumbersome and time-consuming as the consumer has to collect all the bills to calculate the total amount paid it can actually be very simple

KHALID LAKHANI KARACHI

Online sharks

O n L i n e loans are turning out to be death online in actual terms The recent news of a young man in Rawalpindi having committed suicide after harassment by shady characters behind a loan app has once again brought the spotlight on the issue This business is flourishing in Pakistan due to inflation and daily increase in commodity and medicine prices as well as utility bills This forces an individual to fall into this vicious trap it is not the first time that such cases of high-handedness by loan companies have made headlines but no proper action was taken by the agencies concerned

The same is apparently happening in the wake of the recent tragedy

The practice of trapping vulnerable people by loan sharks is actually quite old, and it works best in countries facing financial crisis These loan sharks operate all over the world, both legally and illegally, controlled by mafias Operating through apps the phone data of the borrower is hacked to be used for blackmail by their recovery units The Sindh government took the right action by passing a law against issuing interest-based loan by private companies But the question is who will give an interest-free loan? it is a pity that individuals in dire need of money are turned down by the same banks that dole out huge amounts to people with the right connections Such loans are hardly ever returned They are all eventually written off MALIK UL QUDDOOS KARACHI

For feedback

APOLLO

Rashid MahMood

Social implications of the current economic crisis COMMENT

going financial stress

Whenever there is an economic crisis in a country

PA K I S TA N is currently confronted with an economic crisis that surpasses the realm of balance sheets and fiscal policies, affecting the very core of the societal fabric Though the current crisis is viewed in terms of numbers and economic indicators this is just one side of the coin

The ongoing situation is having a detrimental eff e c t o n t h e s o c i a l l a n d s c a p e o f P a k i s t a n , i t i s n o t merely an abstract conundrum, it is an explicit force that shapes the very existence of the general populace As we delve into the social implications of an escal a t i n g e c o n o m i c c r i s i s w e f i n d a c o m p l e x i n t e r c o nnection of social issues that provides a visible picture of upcoming threats

These concerns include an unprecedented increase in poverty rates and a widening gap in income inequality as wealth is getting concentrated day by day in Pakistan In addition, due to a massive rise in the inflation rate a significant portion of the population is confronted with serious economic vulnerability due to the previous increase in the standard of living These further strain social cohesion and unity

Moreover, it is observed that whenever there is an increased fiscal deficit in the country, the education sector experiences a massive hit and this happened again this time thus the cost of education has been increased Students from marginalized areas are left with no option but to give up their education and support their families amidst the perpetuating cycle of poverty

Thus, an economic crisis is having a multifaceted effect on society, and it is crucial to comprehend these detrimental repercussions

Unemployment is a key indicator of the health of an economy and it is a direct product of economic crisis leading to recessions One of the significant reasons

is insufficient economic investment resulting in limited job opportunities and minimal business growth due to the lack of confidence of investors amid political chaos and economic uncertainty

Moreover, the education system falls short of providing graduates with the necessary job market skills, fueling the increased unemployment rate The country has witnessed a significant loss of millions of jobs in both formal and informal sectors during the current fiscal year due to the country s ongoing economic and financial challenges In this regard, the International Labor Organization has estimated that the number of unemployed people will reach 5 6 million by the end of this year which is in line with the unemployment rate of 8 3 perecent estimated by the IMF

Evidence suggests that unemployment leads to serious anxiety and depression This in effect increases domestic violence and other social issues In this regard, there is an exceptional increase in the divorce cases, as observed in Lahore Most women accuse their husbands of domestic violence due to financial and social issues and demand separation

Furthermore food insecurity lack of resources and rising debts directly correlate to increasing mental health issues among people in Pakistan In the midst of the ongoing protests across Pakistan against inflated power bills, a man committed suicide after failing to pay a Rd 40,000 electricity bill, the second such incident in the last month

Moreover to make ends meet people are immigrating to other countries by formal and informal means l e a d i n g t o a m a s s i v e b r a i n d r a i n i n t h e c o u n t r y O v e r 8 0 0 0 0 0 P a k i s t a n i c i t i z e n s l e f t t h e c o u n t r y i n

2 0 2 2 i n s e a r c h o f b e t t e r j o b o p p o r t u n i t i e s a b r o a d

Thus, it is crucial to understand the far-reaching societal implications of soaring unemployment due to on-

i t l e a d s t o a c c e l e r a t i n g p o v e r t y a n d i n e q u a l i t y i n a country, due to lost economic and employment opportunities The current economic downturn is pushing an u n p r e c e d e n t e d n u m b e r o f p e o p l e b e l o w t h e p o v e r t y line, due to the ever-increasing cost of living since the previous year It is estimated that in the previous year d u e t o p o l i t i c a l t u r m o i l a n d e c o n o m i c u n c e rtainty 100 million people from the lower middle-income class have been pushed below the poverty line N o t a b l y, l e a d i n g e c o n o m i s t s i n P a k i s t a n h a v e c r i t icized the current budget due to an insufficient allocat i o n f o r p o v e r t y a l l e v i a t i o n f u n d s T h i s w i l l f u r t h e r l e a d t o a d e c l i n e i n h u m a n d e v e l o p m e n t a c r o s s t h e c o u n t r y i n t h e c o m i n g t i m e T h i s s h o w s h o w a t t h e current time the authorities are just viewing this crisis in terms of statistical indicators Thus it is crucial to design strategies considering the social implications of this ongoing economic uncertainty In line w ith poverty, w ealth concentration is another major socio-economic issue that Pakistan is conf r o n t e d w i t h P a k i s t a n h a s s t r u g g l e d w i t h w e a l t h disparity for a long time which is characterized by a d i s p r o p o r t i o n a t e l y s m a l l f r a c t i o n o f t h e p o p u l a t i o n holding a significant portion of the country s wealth As a matter of fact, according to a report by Oxfam, the top one percent of the population is wealthier than t h e b o t t o m 7 0 p e r c e n t , h i g h l i g h t i n g t h e s i z e o f t h e wealth disparity and its grave implications for the development of the nation’s economy and social struct u r e A s r e p o r t e d b y t h e Wo r l d B a n k 1 0 p e r c e n t o f wealthy households in Pakistan hold 42 percent of the nation s income, which in contrast with 50 percent of p o o r h o u s e h o l d s c o l l e c t i v e l y h a v i n g 1 3 p e r c e n t o f w e a l t h , w h i c h s h o w s a s t a r k d i ff e r e n c e b e t w e e n t h e classes One of the contributing factors to these disturbing statistics is the economic crisis due to the conc e n t r a t i o n o f e c o n o m i c p o w e r i n t h e h a n d s o f a f e w

T h e w ay fo r w a rd fo r c u r b i n g t h i s n e c e s s i t a t e s a h o l i s t i c s t r a t e g y t h a t i n cl u d e s t a rg e t e d i n i t i a t i v e s t o r e d u c e p ov e r t y, i m p rov e a c c e s s t o h e a l t h c a r e a n d e d u c a t i o n , a n d c r e a t e a n e n t r e p r e n e u r i a l c u l t u r e t h a t p ro m o t e s s e l f - e m p l oy m e n t R e bu i l d i n g a m o r e r e s i l i e n t a n d f a i r s o c i e t y d e p e n d s e q u a l ly o n c r e a t i n g a n e nv i ro n m e n t t h a t p ro m o t e s s o c i a l a c t i v i t y a n d c i v i l s o c i e t y e n g a g e m e n t .

people and their self-centred approach leading to such a crisis This startling disparity in wealth and income distribution fuels a cycle of poverty that gets more and more difficult to break frequently resulting in higher crime rates and social unrest across the nation In the past year, a rise in street crime has been obs e r v e d i n m a j o r c i t i e s o f P a k i s t a n T h i s r e f l e c t s t h e r e p e r c u s s i o n s o f d e e p e r s o c i e t a l i s s u e s s u c h a s g r o wi n g i n e q u a l i t y p o v e r t y a n d u n e m p l o y m e n t A c c o r di n g t o t h e C i t i z e n s - P o l i c e L i a i s o n C o m m i t t e e

(CPLC) Karachi has witnessed a worrisome increase in street crime with over 21 000 cases reported in the f i r s t t h r e e m o n t h s o f 2 0 2 3 Tr a g i c a l l y, r o b b e r i e s h a v e r e s u l t e d i n 3 4 f a t a l i t i e s a n d 1 5 0 i n j u r i e s , w i t h i n c id e n t s o f c a r, m o t o r c y c l e , a n d m o b i l e p h o n e t h e f t s u rp a s s i n g 2 0 0 0 0

Moreover in Rawalpindi street crime remains a significant concern too with 89 cases resulting in the loss of motorcycles mobile phones and gold jewellery valued at over Rs 3 5 million Despite police investigations and registered cases, street crimes continue in the city A retired bureaucrat and vice president of a gated housing society in Lahore revealed that high unemployment and escalating inflation are pushing many young men towards criminal activities impacting the lives of law-abiding citizens

Similarly in urban areas incidents of purse snatching, and mobile theft are witnessing an increase Several videos circulating on social media capture individuals on motorcycles approaching vehicles and using firearms to demand cash from the occupants

The way forward for curbing this necessitates a holistic strategy that includes targeted initiatives to red u c e p o v e r t y i m p r o v e a c c e s s t o h e a l t h c a r e a n d education, and create an entrepreneurial culture that p r o m o t e s s e l f - e m p l o y m e n t R e b u i l d i n g a m o r e r esilient and fair society depends equally on creating an environment that promotes social activity and civil society engagement

The writer is working as a Research Assistant at Balochistan Think Tank Network (BTTN) Quetta

W h y i s R u p e r t M u r d o c h

l e a v i n g h i s e m p i r e n o w ?

L a c h l a n M u rd o c h w i l l b e f o r m a l l y i n c h a rg e o f Fox N e w s, t h e Wa l l S t re e t J o u r n a l, a n d e ve r y t h i n g e l s e h i s f at h e r b u i l t a n d b o u g h t Fo r n o w

the company sooner or later

Lo n g - h e l d re s e n t m e n t s o f t h e we s t a re s u r f a c i n g a s wo r l d re l at i o n s re b a l a n c e i n f avo u r o f e c o n o m i c p o we r h o u s e s l i ke I n d i a a n d C h i n a

ganisations such as the recent Brics (Brazil Russia

India China and South Africa) summit enlarging the grouping to admit Argentina Egypt Ethiopia Iran Saudi Arabia and the United Arab Emirates

They are taking stronger positions, the Economic Community of West African States (Ecowas) going as far as suggesting a military intervention in response to the coup in Niger (although little action has followed) They want to be seen as international peace-builders: African leaders including those from South Africa

Egypt Senegal the Republic of the Congo Zambia and Uganda travelled to Kyiv and Moscow to press for peace and continued grain exports; while Saudi Arabia hosted representatives of more than 40 countries in Jeddah to discuss the principles for ending Russia’s invasion

GUARDIAN n at h a l i e to c c i

IT came as an unpleasant surprise to many in Europe and North America that so many countries – many more than the 30 or so that abstained in UN votes condemning Russia for its invasion of Ukraine – refused to go along with sanctions on Putin s Russia Forty countries sanction Russia but two-thirds of the world s population live in countries that do not The geopolitical split over Russia s war on Ukraine emerged starkly again at the recent G20 summit in India in early September A consensus could only be reached on a watered-down statement that referred to the “war in Ukraine without mentioning Russia s aggression

This is not to say that countries who sat on the sidelines all back Russia s invasion and don t subs c r i b e t o U k r a i n e s t e r r i t o r i a l i n t e g r i t y T h e G 2 0 statement, in fact, explicitly rejected the use of force in violation of independence, sovereignty and territorial integrity However, it does mean that they consider this to be a European war in which they have n o s t a k e w h i l e s t i l l s u ff e r i n g i t s c o n s e q u e n c e s i n t e r m s o f f o o d a n d e n e rg y s e c u r i t y I t m e a n s t h e y would prefer the war to end quickly even if not nece s s a r i l y j u s t l y ; a n d i t m e a n s t h e y a r e u n w i l l i n g t o p a y a p r i c e t o e n s u r e t h e r e s p e c t f o r i n t e r n a t i o n a l

law

It was eye-opening then to take part, during a recent trip to Indonesia in a global “town hall” deb a t e i n J a k a r t a o n t h e t h e m e o f r e b u i l d i n g b r i d g e s between the global north and south

As a global north voice on the panel alongside Indian and South African colleagues and after China s foreign minister, Wang Yi, delivered a blistering attack on Europe and the US, I was asked “Why does the west now take a greater interest in the global south?” The bluntness of the question got me thinking

The questioner was right The term global south is suddenly cropping up at almost every gathering in the west But it is also increasingly used in the south too Loosely, it includes what used to be called developing countries, and many formerly colonised nations It includes economic powerhouses such as China and India mid-sized powers such as Turkey Brazil and Saudi Arabia and poor countries that struggle to make their voices heard The group is so heterogeneous that it begs the question of whether it makes sense to consider it as such at all

Yet these countries share a sense that their independent voices should be heard rather than being shaped or determined by the west

To be heard they are building and expanding or-

The west pays greater heed than it used to also because the global south matters more in international relations As the Indian scholar Amitav Acharya points out, there is a distinction between the power south , which represents the engine of global growth, and the “poor south” The crucial question is how to ensure that the latter also has a voice The International Monetary Fund has forecast that Asia is poised to drive 70% of global growth this year with India and China alone covering about half of the total

Countries in the power south are carving out a role in the world through diplomacy, transactional relationships and multi-alignment in different organisations India, for example, is a member of the China-led Brics but also of the Quad (with Japan the US and Australia) Aspiring to be a leader of the global south it steered the G20 towards greater inclusivity by inviting the African Union into the group Saudi Arabia has just signed up to the Brics, and despite its atrocious human rights record is in talks with Washington over a strengthened security partnership and normalised ties with Israel Turkey is a Nato member but has maintained strong relations with Russia and seeks to revive the grain deal from which Moscow pulled out

Countries in the global south will play increasingly crucial roles in decarbonising the global economy given their share of critical natural resources Europe imports much of its lithium and cobalt from Chile and the Democratic Republic of the Congo respectively, while China has a near monopoly on the extraction processing and production of many more critical minerals

Finally the war in Ukraine has forced the west to stop ignoring the global south Russia s invasion has brought to the surface accumulated global anger and resentment towards European countries and the US, whether for centuries of colonialism and neocolonial practices, or for the double standards western countries have so often displayed towards the violations of rights and law in different parts of the world Russia s invasion of Ukraine will at some point end But the north s awakening to the geopolitical power of the southern hemisphere is not – as some of those with me in Jakarta said they feared – a fleeting moment Some believe the war has made international relationships more fraught and conflicted I disagree: the war has allowed fossilised resentments to surface This may not necessarily lead to easier relationships in the future but perhaps to more honest ones

Nathalie Tocci is the director of the Italian Institute of International Affairs and a Guardian columnist

RU P E RT Murdoch spent a lifetime building one of the world s most important media empires Now at age 92 he says he s no longer going to run it day to day In November, Murdoch will step down as chair for Fox Corporation, the company that owns Fox News and the Fox broadcast channel, as well as News Corp, the company that owns publishers including the Wall Street Journal and the New York Post Murdoch has been the last remaining media megamogul running the business he created And that business has been extremely influential in both entertainment and politics particularly in the US, where Fox News has enormous sway with Republican politicians and voters His formal departure from the boardroom isn’t shocking again he’s 92 but it is still momentous

And yes there s a lot in here that reminds people of HBO s Succession because that show was deeply inspired by Murdoch and his family

Here s what we know, and don t know, about the move:

WHO’S GOING TO RUN THE MURDOCH MEDIA EMPIRE NOW? Rupert Murdoch’s announcement cements the notion that Lachlan Murdoch one of his six children will be steering the family business from now on Lachlan was already CEO of Fox Corporation, and he ll become the sole chair of News Corp (Longtime Murdoch lieutenant Robert Thomson remains CEO of News Corp )

OKAY, BUT WHO’S REALLY GOING TO RUN

THE MURDOCH MEDIA EMPIRE NOW? That s a good question Fox and News Corp are public companies, but the Murdoch family controls them via ownership of a special class of shares, and Rupert Murdoch still controls the trust that controls those shares So at the moment, nothing structural is going to happen company withou also worth noting nario that gets fl odically in Lachlan s br James, who used manage the fami ness but split fro years ago wrests following his death

WHY IS MURDOCH STEP PING DOWN NOW? We c stress this enough 92 He was going to have to

But in a memo to his employees, Murdoch says he s in robust health despite repeated incidents over the past few years In 2018, for instance, he severely injured himself after falling on Lachlan’s yacht, the New York Times reported

The clearest indicator that Murdoch has been thinking of moving on was a plan floated last fall to combine his two companies which many observers thought was a step to give Lachlan increased control That deal was scuttled in January after investors and James Murdoch complained In 2019, Murdoch took many of his chips off the table by selling his Hollywood film studio and other assets to Disney for $71 billion Murdoch’s future and the future of his empire once he leaves have been the object of media speculation for years and not just on prestige TV This week for example, author Michael Wolff published The Fall: The End of Fox News and the Murdoch Dynasty, which covers infighting within the Murdoch empire and begins with a mock obituary for Murdoch

HOW WILL THINGS CHANGE AT MURDOCH S COMPANIES IF HE S NOT ON THEIR BOARDS?

We re going to find out Murdoch came up through the news business his father owned newspapers in Australia and, for years, Murdoch was famously handson with many of his news properties Fox News was a slightly different case For a long time it was run as a fiefdom by executive Roger Ailes though Murdoch certainly had views about the channel s coverage and enjoyed the power it gave him in Republican politics And in 2016, Rupert and Lachlan forced Ailes out following sexual harassment claims

So it’s unclear whether Rupert is willing or able to stop steering any of those properties now In a company memo announcing his move he made a point of saying he’s not walking away from his companies at all: I will be watching our broadcasts with a critical eye reading our newspapers and websites and books with much interest and reaching out to you with thoughts, ideas and advice, he wrote (He also took time to complain about elites who have “open contempt” for the rest of the world, as well as “most of the media [that] is in cahoots with those elites”)

There is also an alternate view of Murdoch’s recent involvement at this company which is that he hasn t been that involved

There s a leadership void, says professional Murdoch-watcher Brian Stelter, most recently of CNN Stelter notes that during the discovery for the Fox Dominion defamation case, emails and depositions paint Murdoch as more of a bystander to the goings-on at Fox News

That s a real change from the Murdoch of old

On the other hand Murdoch has historically been quite d at buck-passing when s company has been accused of misdeeds His testimony in the News of the World phone-hacking case more than a decade ago is an example Is it possible that Murdoch wasn’t really checked out in 2012 ut has been for the last ears? We ll find out er Kafka covers media nology and their at Vox Many of his found in his Kafka on tter and he also hosts edia podcast

W a r i n U k r a i n e i s

r e v e a l i n g a n e w g l o b a l

o r d e r – a n d t h e ‘ p o w e r

s o u t h ’ i s t h e w i n n e r

X I

A S S A D A N N O U N C E C H I N A - S Y R I A

,

S T R AT E G I C PA R T N E R S H I P

HANGZHOU s TA f f c o r r e s P o n D e n T

CHINESE President Xi Jinping and Syrian President Bashar alAssad on Friday jointly announced the establishment of a China-Syria strategic partnership, as the two leaders met in Hangzhou ahead of the opening of the 19th Asian Games, almost two decades after Assad’s last visit to China in 2004

Experts regard the move as being of great practical significance as it will greatly support the improvement of Syrian people s livelihoods, which have long been ignored by the West

In Hangzhou on Friday, Assad was seen with his wife visiting the Lingyin Temple one of the largest Buddhist temples in China

Their surprise appearance was warmly welcomed by local tourists and sparked heated discussions on Chinese social media

In videos widely circulating on Weibo, Assad and his wife were seen shaking hands and exchanging hugs with visitors with big smiles on their faces – demonstrating through concrete actions that different cultures and civilizations can respect and communicate with each other smoothly, experts said

When meeting with Assad, Xi said Syria

was one of the first Arab countries to establish diplomatic relations with the People s Republic of China, and was one of the countries that co-sponsored the resolution to restore the lawful seat of the People’s Republic of China in the United Nations

Over the 67 years since the establishment of diplomatic ties between the two countries the China-Syria relationship has stood the test of changes in the international situation, and their friendship has grown stronger over time, he said

The establishment of the strategic partnership will be an important milestone in the history of bilateral ties Xi noted

Zhu Yongbiao director of the Center for Afghanistan Studies at Lanzhou University, told the Global Times on Friday that the establishment of the partnership is of great practical significance to both sides, and offers vast potential for future development It also carries symbolic meaning as it comes at a time when Syria has been embroiled in prolonged turmoil particularly against the backdrop of US sanctions

For Syria, the establishment of a partnership with China is an exit from its diplomatic isolation highlighting the failure of the US and its allies’ efforts to overthrow Assad government Zhu noted

At the same time it reflected the strategic autonomy of China s diplomacy despite

the US unilateral long-arm jurisdiction the expert said

During the meeting between both heads of state, Xi emphasized that China will continue to firmly support Syria on issues concerning its core interests and major concerns work with Syria to safeguard the common interests of developing countries and support Syria in opposing foreign interference rejecting unilateralism and bullying, and safeguarding national independence, sovereignty and territorial integrity

China supports Syria in conducting reconstruction enhancing counter-terrorism capacity building and promoting a political settlement of the Syrian issue followi n g t h e S y r i a n - l e d , S y r i a n - o w n e d principle, Xi said

China also supports Syria in improving its relations with other Arab countries and playing a greater role in international and regional affairs he added Amid the accelerated trend of reconciliation in the Middle East Syria was reinstated to the Arab League after it was suspended from the body 12 years ago

The visit came six months after a China-brokered deal saw longtime regional rivals Saudi Arabia and Iran agree to restore diplomatic relations China now becomes one of a handful of countries outside the Middle East that Assad has visited since

2011 media reported Xi and Assad s meeting is a valuable pillar of support for improving the lives of the Syrian people in the process of post-war reconstruction and economic recovery, Zhu noted

“Over the past decade the lives of ordinary Syrians have been severely affected and their plight was deliberately ignored by the West In contrast China has provided diplomatic and economic support, providing Syria promising prospects for strengthening cooperation,” the expert said

In January 2022 Syria joined China’s Belt and Road Initiative Xi on Friday told Assad that China is willing to strengthen co-

Zelensky wins Biden suppor t but faces US skeptics

WASHINGTON

Ag e n c i e s

Ukrainian President Volodymyr Zelensky visited Washington Thursday to appeal for help fighting Russia winning warm words of support and weapons from Joe Biden but confronting skeptical Republicans who want to cut off aid

“We’re with you and we’re staying with you,” Biden told the Ukrainian leader after their top teams met at White House to thrash out Zelensky s demands for more arms to push back the Russian invasion

Wearing his trademark olive green military-style shirt, Zelensky said Ukraine has exactly what our soldiers need after Biden announced a new package of US military aid, including sophisticated air defense weapons But behind the visuals firm handshakes across a grand cabinet table and shows of solidarity in the Oval Office lay the fact that Zelensky s second wartime trip to Washington was far tougher than the first

Where Zelensky received a hero s welcome when he visited in December, this time he spent his closeddoor meetings in the US Congress desperately trying to overcome growing war fatigue from Republicans Hardline Republicans are threatening to block Democrat Biden s request for a fresh $24 billion aid package for Ukraine and it has now become caught up in a bitter spending battle that could spark a US government shutdown ‘No alternative’

Biden said alongside Zelensky that there was “no alternative” to backing the Ukraine funding adding that he was counting on the good judgment of the United States Congress Speaking later at the National Archives Zelensky said I assured President Biden that we in Ukraine will not give up and he assured me that America will be with us, as long as it takes

The US president said the first US M1 Abrams tanks will arrive in Ukraine “next week ” boosting Kyiv’s forces as they battle Russian troops in a slow-moving counteroffensive

The latest US package would also strengthen Ukraine s air defense capability, crucial at a time when the country faces repeated Russian missile and drone attacks Zelensky arrived Thursday night in Ottawa Canada for an unannounced visit He was to meet Friday with Prime Minister Justin Trudeau and members of Canada s large Ukrainian community and give a speech to parliament In Washington the Ukrainian leader arrived right after another wave of Russian missile strikes, hitting cities across the country and killing at least three people in Kherson and wounding many in other areas

Zelensky thanked Biden for the “vital assistance provided by the United States to combat Russian terror really terror

As part of his bid to win over Washington Zelensky went to the Pentagon where he laid a wreath at a memorial for victims of the September 11, 2001 attacks

But in a blow to Zelensky, Biden rejected for now a request for longer-range ATACMS missiles that can strike up to 300 kilometers (190 miles) away the White House said

US finalizes rules to prevent China from benefiting from $52bn in chips funding

The U S Commerce Department on Friday is issuing final rules to prevent semiconductor manufacturing subsidies from being used by China and other countries deemed to pose American national security concerns

The regulation is the final hurdle before the Biden administration can begin awarding $39 billion in subsidies for semiconductor production The landmark “Chips and Science” law provides $52 7 billion for U S semiconductor production research and workforce development

The regulation first proposed in March sets guardrails by limiting recipients of U S funding from investing in expanding semiconductor manufacturing in foreign countries of concern like China and Russia, and limits recipients of incentive funds from engaging in joint research or technology licensing efforts with foreign entities of concern

In October 2022 the department issued new export controls to cut China off from certain semiconductor chips made with U S equipment in its bid to slow Beijing s technological and military advances

“We have to be absolutely vigilant that not a penny of this helps China to get ahead of us,” Commerce Secretary Gina Raimondo told Congress Tuesday

If funding recipients violate restrictions Commerce Department can claw back federal awards Raimondo told Congress she is working as fast as possible to get awards approved I feel the pressure, Raimondo said We are behind but it is more important that we get it right And if we take another month or a few more weeks to get it right I will defend that because it’s necessary ”

The regulation prohibits funding recipients from significantly expanding semiconductor manufacturing capacity in foreign countries of concern for 10 years It also restricts recipients from some joint research or technology licensing efforts with foreign entities of concern but allows for international stand a r d s p a t e n t l i c e n s i n g a n d u t i l i z i n g f o u n d r y a n d packaging services The final rules prohibit material expansion of semiconductor manufacturing capacity f o r l e a d i n g - e d g e a n d a d v a n c e d f a c i l i t i e s i n f o r e i g n c o u n t r i e s o f c o n c e r n f o r 1 0 y e a r s I t a l s o c l a r i f i e s wafer production is included within semiconductor manufacturing

The final rule ties expanded semiconductor manufacturing capacity to adding cleanroom or other physical space, defining material expansions as increasing production capacity by more than 5% T h e r u l e p r o h i b i t s r e c i p i e n t s f r o

n c l u d i n g q u a n t u m c o m p u t i n g c u r r e n tg e n e r a t i o n a n d m a t u r e - n o d e c h i p s , i n radiation-intensive environments, and for other specialized military capabilities

operation under the initiative with Syria and also to increase the imports of high-quality agricultural products from Syria

Assad told Xi that Syria sincerely appreciates the Chinese government for its valuable support to the Syrian people and firmly opposes any interference in China s internal affairs Syria is ready to be China s longterm friend and partner he added After the meeting, the two heads of state witnessed the signing of a number of cooperation agreements, including the joint construction of the Belt and Road Initiative economic development exchanges and technological cooperation

UNGA: China for upholding true multilateralism, improve governance for world peace

NEW YORK M i A n A b r A r

While the US has been hijacking the ongoing United Nations General Assembly (UNGA) and turning it into a platform for touting its so-called leadership and peddle its multilateral approach Chinese Vice President Han Zheng sent out a clear signal upholding true multilateralism and elaborated in a comprehensive way on how to work together in building an open and inclusive world with lasting peace and prosperity The senior Chinese official also reiterated China’s consistent position on the Taiwan question as some US-backed forces and the DPP authorities have been making some trivial noises at this annual gathering of world leaders repeating their old trick of trying to turn the Taiwan question into a global topic In sharp contrast to the so-called multilateral approach” adopted by the US, which is considered pseudo-multilateralism as its alliance-centered mindset only serves Washington’s hegemony China’s approach in addressing the reform and development of global governance aims to build a community with a shared future for mankind and provide a solution for common challenges, experts said DEFENDING TRUE MULTILATERALISM

Speaking at the General Debate of the 78th session of UNGA on Thursday Han called on the international community to follow the direction of a multipolar world and to make global governance more just and equitable Han said the legitimate security concerns of all countries should be addressed, the sovereignty and territorial integrity of all countries should be respected, and differences and disputes should be resolved in a peaceful way through dialogue and consultation When it comes to the Ukraine crisis Han said China supports all efforts that are conducive to the peaceful resolution of the crisis and stands ready to continue playing a constructive role for the early attainment of peace Han also put forward a four-point proposal for tackling world affairs including upholding equity and justice, and maintaining peace and security; pursuing mutual benefit and delivering win-win outcomes and achieving development for all; staying open and inclusive and advancing human civilization; and staying true to multilateralism and improving global governance The vice president said that China will remain a member of the big family of developing countries As the largest developing country, China is a natural member of the Global South, sharing weal and woe with the vast number of developing countries, Han said ‘TRIVIAL NOISES’ ON TAIWAN QUESTION

Besides China s approach to safeguarding and promoting multilateralism a clear message from the Chinese leader on the Taiwan question was also put under the spotlight, as a small number of countries, along with the DPP authorities, have been making some noises at the ongoing UNGA and repeating some old tricks of hyping the island joining the UN as an independent representative China resolutely safeguards its sovereignty and territorial integrity The government of the People s Republic of China is the sole legal government representing the whole of China, and Taiwan has been an inalienable part of China s territory since ancient times, Han told the meeting

Pakistan aims to revive stalled Qatari LNG project

CORPORATE

CORNER

Telenor Microfinance Bank receives in-principle approval for digital retail Bank

PRIVATIZ ATION COMMISSION HAND OVER MUTATION DEED OF FBR L AND TO SUCCESSFUL BUYER

fintechs SBP s top management as well as TMB s senior management and shareholders including Kashif Ahmed Acting CEO, Amna Abbas, CLO, Solomon Jamin, Vice President, Investment Management, Telenor Asia, and Douglas Feagin, Senior Vice President, Global Strategic Partnerships and Investments Ant Group PR

LUMS faculty showc ases Bill & Melinda Gates Foundationfunded projec t

L A H O R E: Dr Maryam Mustafa, Director, Saida Waheed Gender Initiative and Assistant Professor of Computer Science at LUMS recently presented her project Awaaz-e-Sehat: Empowering Maternal Healthcare with Voice-Enabled Electronic Record Management at the 78th United Nations General Assembly She was part of the session on Artificial Intelligence for Accelerating Progress on the Sustainable Development Goals: Addressing Society’s Greatest Challenges’ Dr Mustafa’s project won a grant from the Bill and Melinda Gates Foundation out of over 1 300 global proposals for its Grand Challenges Catalysing Equitable Artificial Intelligence (AI) Use award Her co-researchers on the project are Dr Hassan Mohy Ud Din (Project CoPI, LUMS), Dr Beena Ahmed (Project Co-PI, UNSW) and Dr Fozia Umber (Project Co-PI Shalamar Hospital) As a nation struggling with subpar pregnancy outcomes the absence of documented medical records for expectant women seeking care poses a significant challenge for healthcare professionals This lack of information hampers doctors' ability to offer precise diagnoses and tailored care that takes into account socioeconomic and lifestyle factors PR

World Bank, Punjab Govt team up to combat air pollution

L A H O R E: In a major step towards tackling air pollution, the World Bank and Government of Punjab Departments have decided to focus on the Air Quality in the next phase of Punjab Green Development Program A significant one-day workshop convened at Avari hotel in Lahore fostering collaboration between the World Bank Mission on Air Quality led by Mr Christopher James Warner Senior Environmental Specialist and the Government of Punjab The key participants from the government included Secretary Transport Dr Ahmed Javed Qazi, Secretary Industries Mr Ehsan Ahmed Bhutta Secretary Environment Dr Sajid Mahmood

Chauhan Member Environment Dr Abid Bodla and Project Director of Punjab Green Development Program Ms Samia Saleem The primary objectives of this workshop were having the technical experts and policy makers' input on the issue of air pollution, available baseline data, and most suitable air pollution abatement measures The event aimed to facilitate discussions on the implementation of the Punjab Clean Air Policy and its associated action plan as well as to explore the launch of the second phase of the Punjab Green Development Program with exclusive focus on air pollution The workshop commenced with a comprehensive technical session with breakout groups focusing on four sectors i e Clean Cooking Industries Transport and Agriculture This session served as a platform for stakeholders to share insights expertise and recommendations regarding developing high impact low cost air pollution control interventions in these critical sectors PR

Nestlé Pakistan inaugurates

7th clean, safe drinking water facility in Islamabad I-10/4

ISLAMABAD: Committed to be a force for good, Nestlé Pakistan inaugurated a facility to provide clean and safe drinking water to more than 12,000 people in Islamabad’s Sector I-10/4 in partnership with Capital Development Authority (CDA) During the inauguration Jason Avanceña Chief Executive Officer Nestlé Pakistan said We are committed to Creating Shared Value (CSV) throughout our value chain for communities and inauguration of this seventh clean safe drinking water facility is a testament to our commitment to making a positive impact for families communities and the planet The impact we make is only possible because of the efforts of our employees partners and stakeholders across our value chain I want to take this opportunity to express my gratitude to CDA for their support Nestlé Pakistan has already developed and currently managing six clean and safe drinking water facilities around its manufacturing sites in Sheikhupura and Kabirwala With the inauguration of this facility in Islamabad approximately 72 000 people will have access to clean and safe drinking water daily around the company s manufacturing sites Speaking on the occasion, Sheikh Waqar Ahmad, Head of Corporate Affairs & Sustainability, Nestle Pakistan said, “Nestlé Pakistan has an active and effective Community Engagement Program for the communities where we operate and these clean and safe water drinking facility that are in line with United Nations Sustainable Development Goals 6, are helping us prioritize the community s needs PR

S audi govt to enhance facilities for Pakistani pilgrims during Hajj 2024: Aneeq

ISLAMABAD

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Caretaker Minister for Religious Affairs and Interfaith Harmony

Aneeq Ahmed on Friday said Pakistani pilgrims would be provided additional facilities and improved services during the Hajj 2024 He announced this after a comprehensive meeting with Saudi Minister of Hajj and Umrah Dr Tawfiq bin Fawzan Al-Rabiah in Riyadh which was also attended by Pakistan s Ambassador to Saudi Arabia, Ahmed Farooq and Deputy Chief of Mission, Moazam Khan, said a statement received here According to details Minister Aneeq held discussions to finalize arrangements for Pakistani pilgrims adding that they would be provided further enhanced facilities during the upcoming Hajj season He said accommodation, meals, and transportation for pilgrims would be improved with a more comfortable and convenient experience He urged his Saudi counterpart to finalize the flight schedule for Pakistani pilgrims promptly besides making arrangements to accommodate Pakistani pilgrims closer to the holy sites in Makkah and Madinah He proposed to expand Road to

Bank Alfalah, Deaf Reach, and TDF's MagnifiS cience Centre join forces to raise awareness on International D ay of S ign L anguages

Makkah project at various airports in Pakistan including Karachi and Lahore, in addition to Islamabad Minister Aneeq expressed his gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud and Saudi Crown Prince and Prime Minister Mohammad bin Salman for their unwavering support in providing the best facilities to pilgrims He appreciated the Saudi government s efforts to continuously enhance services for pilgrims from Pakistan Saudi Minister for Hajj and Umrah Dr Tawfiq bin Fawzan Al-Rabiah assured of Saudi Arabia s commitment to further cooperation with Pakistan He highlighted that the

Saudi government was continuously working to improve services for Pakistani pilgrims, and several new initiatives had been taken to ensure their comfort and convenience He informed that Saudi Arabia had limited the number of private tour operators from around the world adding that each private tour operator was required to serve a minimum of 2,000 pilgrims He said the expansion of Road to Makkah’ project to cities like Karachi and Lahore was under consideration Concluding the meeting both ministers expressed their mutual desire to strengthen the bonds of friendship and cooperation between Saudi Arabia and Pakistan

TDAP organizes 16th session of National Expor ters Training Program in Swat

ISLAMABAD

P R

Trade Development Authority of Pakistan (TDAP) successfully organized 16th session of National Exporters Training Program (NETP) in Swat on 21st September 2023 for the manufacturers/producers/exporters of gemstones, furniture, fruit and vegetables and honey Different Associations and chambers of these sectors attended the session along with their members Vice President Furniture Association and Senior Vice President Swat Chamber of Commerce and Industry presented welcome remarks Mr Ayaz Muhammad, Assistant Director/In charge TDAP

Swat highlighted the role of TDAP and welcomed participants Ms Afshan Uroos Deputy Manager TDAP trainer presented four distinct modules (Export Research, Documentation, Financing and Marketing) She further briefed

about E-Commerce platforms launched by TDAP and said these Platforms would help prospective exporters in converting an export inquiry into actual exports Moreover Ms Rabia master trainer of

Shura Hamdard voices concerns about rampant corruption in education sector

K A R A C H I: The members of Shura Hamdard voiced their concerns about the continuous decline and rampant corruption in the education sector in a Shura Hamdard meeting recently, titled: Respect for Teachers The meeting was chaired by Speaker Gen(r) Moinuddin Haider and was held at Hamdard Corporate Head Office Ms Sadia Rashid President – Hamdard Foundation Pakistan also attended the meeting The speakers also put forth several suggestions and recommendations to improve the education sector of the country General (r) Moinuddin Haider said that the education sector has been marred by corruption, leading to the appointment of individuals as teachers who lack both qualifications and competence Presently provincial governments extend numerous benefits to teachers including reasonable salaries Nevertheless the fundamental issue revolves around the selection and appointment of teachers PR

State Bank of Pakistan presented different loan schemes for exporters and addresses their queries

More than 55 Potential manufacturers/exporters/producers of Swat and Malakand attended the event to take benefits from the most demanded training sessions on export mechanism The potential exporters of gemstones, Emerald, jewelry honey furniture mushrooms dry fruits Fresh fruits and handicrafts have shown keen interest in the trainings to learn export processes in order to materialize their trade potential The program concluded with a vote of thanks

The exporters were keen to participate in trade fairs and webinars conducted by TDAP They have collected information and appreciated efforts of TDAP s upcoming event to promote export sector The Assistant Director assured that TDAP will promote the indigenous products by arranging such productive events in future as well

Breakthrough in S audi Arabia: NESPAK sec ures prestigious NEOM Projec t

LAHORE: In a momentous achievement, NESPAK, Pakistan's premier engineering consultancy, has secured a landmark NEOM project in Saudi Arabia becoming the first Pakistani firm to do so This milestone was announced by Mr Zargham Eshaq Khan Acting Managing Director of NESPAK on Friday The project focuses on the energy sector and has been awarded by the Saudi Electric Company (SEC) NESPAK's scope of work involves providing construction management services for Extra High Voltage (EHV) High Voltage (HV) and HVDC projects within various zones encompassing NEOM Bay NEOM Mountain and NEOM Phase II The project carries a budget of 46 5 million Saudi Riyals, equivalent to 3 794 billion Pak Rupees, and is scheduled for completion within three years NEOM, the centerpiece of this endeavor, is a part of Saudi Crown Prince HRH Muhammad Bin Salman's Vision 2030 reform program This visionary initiative aims not only to diversify the nation s oil-based economy but also to transform society creating a flexible economy capable of meeting the challenges of the modern world NEOM's grand designs span a wide range of regions, featuring a floating industrial complex, a global trade hub opulent tourist resorts and a cutting-edge linear city powered by sustainable and renewable energy sources NESPAK s success in securing this prestigious project is a testament to the technical excellence and unwavering commitment of its professionals It also marks a significant milestone for an Asian firm in a region traditionally dominated by European and Western PR

K A R A C H I : Bank Alfalah, a leading commercial Bank in Pakistan, collaborated with Deaf Reach and TDF's MagnifiScience Centre to observe the International Day of Sign Languages To show its commitment to inclusivity and diversity the Bank aimed to raise awareness about the significance of sign language day and advocate for the rights of the hearing-impaired community, promoting inclusivity and communication The International Day of Sign Languages, as proclaimed by the UN General Assembly, is a unique opportunity to support and protect the linguistic identity and cultural diversity of all hearing-impaired people and other sign language users In Pakistan there are over a million deaf children of school age yet less than 5% attend school Deaf Reach has been a beacon of hope for the Deaf community, providing a comprehensive solution encompassing education and skills training Bank Alfalah has been proudly supporting Deaf Reach's noble cause since 2012 with over PKR 15 million in donations and this collaboration marks a significant step in furthering their shared mission PR

Finance Minister launches CDC- developed ‘Centralized G ateway Platform’

KARACHI: As a unique initiative in Pakistan s financial landscape, The Centralized Gateway Portal has been formally inaugurated by the Federal Minister for Finance Dr Shamshad Akhtar and Honorable Chairman SECP Mr Akif Saeed in a launch ceremony at CDC House Karachi on the 21st of September 2023 The solution has been implemented by CDC with the support of other entities including PSX NCCPL MUFAP IAP and PSBA The platform is envisioned to greatly help financial institutions by reducing the costs and complexities associated with onboarding their clients CGP’s features include stateof-the-art tools for KYC/CDD and a uniform synchronized and latest KYC and AML framework with AI based algorithms It will provide financial service providers with the indicative risk rating to help them in making informed decisions The CGP will function as a centralized repository for all data and documents, and eliminate the requirement for Financial Institutions to retain the documents with them thereby reducing their storage requirements PR

Zong’s CEO Mr. Huo Junli reaffirms pledge to invest in Pakistan’s digital future

KARACHI: Zong 4G s CEO and Chairman Mr Huo Junli called on the interim IT & Telecommunication Minister Dr Umar Saif where the former reaffirmed Zong 4G s pledge to invest in the digital future of Pakistan and emphasized the pivotal role of technology in national development Mr Huo Junli highlighted Zong 4G's steadfast commitment to spearheading advancements in the telecommunication industry and driving Pakistan s digital transformation Furthermore the discussion focused on fostering social and digital inclusion ensuring that technology reaches every corner of the country, and no one is left behind in the digital era The meeting spotlighted the enduring Pak-China friendship, with Zong 4G’s envisioning a transformative "information superhighway connecting the two nations This visionary initiative aims to facilitate seamless technology transfer and knowledge exchange from China to Pakistan, catalyzing Pakistan s progress and development PR

TIME TO DECIDE: WB L AUNCHES ‘REFORMS FOR A BRIGHTER FUTURE’

Pakistan Institute of Development Economics, conducted extensive consultations across the country to seek inputs and feedback on the recommendations included in the draft Discussion Notes

These have included discussions with students across 21 universities and provincial roundtables with thinkers from academia and the public and private sectors Participants in all four provinces have shared insights and perspectives that have helped shape the understanding of what it would take to put Pakistan back on a path towards sustainable climate-resilient and inclusive growth

The Reforms for a Brighter Future program will continue over the following months both online and at in-person events across the country, including the

Senior journalist Khalid Jamil remanded into FIA custody for two days

ISLAMABAD S TA F F R E P O R T

An Islamabad district and sessions court on Friday remanded journalist Muhammad Khalid Jamil in the custody of the Federal Investigation Agency (FIA) for two days after he was arrested last night

According to the FIA the journalist was detained on charges of spreading provocative narrative against state institutions through social media posts

A photo of Jamil is also doing the rounds on social media, showing him holding a piece of paper with a case number written on it ABN News, the TV channel with which Jamil is affiliated posted a message at 11:18pm last night on X (formerly Twitter) confirming that the journalist had been arrested

The first information report registered by the agency said Hussain was found sharing and propagating highly intimidating content/tweets on social media/Twitter” (now X)

It invoked Section 20 of the Prevention of Electronic Crimes Act (Peca) which states: “Whoever intentionally and publicly exhibits or displays or transmits any information through any information system which he knows to be false and intimidates or harms the reputation or privacy of a natural person, shall be punished with imprisonment for a term which may extend to two years or with fine which may extend to one million rupees or with both ”

The FIR also included Section 505 (statement conducing to public mischief) of the Pakistan Penal Code

The accused had knowingly misinterpreted and disseminates anti-state narrative by sharing false misleading and baseless information which are also likely to cause fear in the public and may incite anyone to commit an offence against the state or the state institution or public tranquility ” it said

It added that the accused persons including Muhammad Khalid Jamil propagated promoted and glorified antistate provocative and hatred narrative against the state institutions The FIA, however, did not name other individuals involved in the alleged crime The agency said such intimidating content of blaming and naming through social media accounts is a mischievous act of subversion to create a rift between general public and state institutions to harm the state of Pakistan

It went on to say that through such intimidating content including videos, the accused attempted to provoke the general public against the state institutions including judiciary, by trying to create a feeling of ill-will among pillars of the state”

“The competent authority has accorded the permission for registration of FIR so the case is registered the FIA added Meanwhile the journalist community strongly condemned the arrest of Khalid Jamil and called for a clear explanation for the action taken Journalist Maria Memon expressed concern about the Federal Investigation Agency’s (FIA) swift action in Jamil’s case highlighting the inconsistency in their response to other online harassment cases

Journalist and columnist Nusrat Javed questioned the basis for Jamil s arrest suggesting that the government needed a thoroughly credible narrative to justify the detention Mubashir Zaidi, another experienced journalist, joined the chorus of condemnation against the arrest and urged for Jamil’s immediate release

Meanwhile commenting on Jameel’s arrest during a press conference today interim Information Minister Murtaza Solangi said arrest and search warrants had been issued for the journalist by a court which he stated was mandatory as per the law

He said he could not comment on the charges on which the journalist was arrested “If law enforcement agencies do any injustice then the matter should go to court We would not want to interfere in court procedures If there has been any injustice with him (Jamil) and it comes in my knowledge then we will address it while remaining within the law, Solangi added Soon after the arrest, Pakistan Tehreek-e-Insaf (PTI) spokesperson strongly condemned the arrest of senior journalist and Bureau Chief of ABN News Islamabad Khalid Jameel in a midnight raid by the FIA at his house

national conversation that will take place in Islamabad today and tomorrow

This consultation program includes the publication, today, of a series of draft Discussion Notes These will be progressively enriched by feedback received from a broad range of stakeholders

The Notes which draw on international experience as well as a large body of evidence on Pakistan, propose fundamental policy shifts that are needed to move away from the current lowgrowth anti-development status quo: “Pakistan has been facing numerous economic hardships including inflation rising electricity prices severe climate shocks and insufficient public resources to finance development and climate adaptation when the country is

among the most vulnerable to climate change impacts

It is also facing a silent human capital crisis: abnormally high child stunting rates, low learning outcomes, and high child mortality ” said Najy Benhassine Country Director for the World Bank in Pakistan

These discussion notes contribute to debates on long standing policy issues that are muting Pakistan s high economic and development potential There is reasonable consensus on priorities and challenges Determining specific solutions requires open debates on concrete fundamental policy decisions We hope this program of discussions will help build a consensus around a path towards inclusive, sustainable, and climate-resilient development

Fatima Fertilizer shareholders approve Rs7.66 bn investment in REITs

PR OFIT N E W S D E S K

Shareholders of Fatima Fertilizer Company Limited

(PSX: FATIMA) voted in favor of a Rs7 66 billion investment in Real Estate Investment Trusts (REITs) during the annual general meeting (AGM) held on Friday Arif Habib Dolmen REIT Management Limited will manage the proceedings of this investment

The resolution allows Fatima Fertilizer to allocate the said capital for a period up to the next annual general meeting or an unspecified period in accordance with the terms and conditions outlined in Annexure-A of the Statement under Section 134(3) of the Companies Act 2017

The approved investment allocation among associated companies and undertakings is as follows:

Pakistan Corporate CBD REIT: PKR 1 142 billion Silk Islamic Development REIT (SIDR):

Bank AL Habib Limited (BAHL) has announced to set up an exchange company with an initial share capital of Rs 1 billion as disclosed to the Pakistan Stock Exchange (PSX) on Friday This decision is in accordance with Sections 96 and 131 of the Securities Act, 2015, as well as Clause 5 6 1 (a) of the Rule Book of the Pakistan Stock Exchange

According to the stock filing the exchange company would be BAHL s 100 percent-owned subsidiary Before the exchange company can be officially established it must obtain the necessary approval or clearance from the State Bank of Pakistan (SBP) and fulfill other regulatory compliance requirements, including capital adequacy, governance standards, and operational criteria This development follows the recent crackdown against black market operatives and the subsequent announcement by the SBP to introduce structural reforms in the exchange companies sector The point of the crackdown has been to rein in the open market and strengthen the sector s governance, internal controls, and compliance culture As part of these reforms leading banks actively engaged in foreign exchange business would establish wholly owned Exchange Companies to cater to the legitimate foreign exchange needs of the general public

Additionally, the minimum capital requirement for Exchange Companies has been increased from Rs 200 million to Rs 500 million, free of losses

It is pertinent to note that BAHL has now become the fourth major bank to establish an exchange company as United Bank Limited (UBL) Meezan Bank and MCB Bank Limited (MCB) have already decided to set up exchange companies

impact on the market and future financial performance remains to be seen

Pakistan’s economic model no longer sustainable: WB regional direc tor

World Bank s (WB) Regional Director for South Asia Mathew Verghis, on Friday raised concern about Pakistan s economic model, saying that it was no longer sustainable and in dire need of urgent reforms

Addressing a ceremony in Islamabad the WB regional director said that the fiscal deficit and current account deficit caused by high expenditures were leading to unsustainable levels of debt

He also highlighted the multifaceted challenges Pakistan faces – from economic struggles to a silent human capital crisis Pakistan s economic model is no longer sustainable and in need of urgent reforms, he noted Verghis regretted that the country was spending more than its income, pointing out that it is ranked lowest in the region in terms of gross domestic product (GDP)

He also warned that the risks of environmental catastrophes were increasing for Pakistan saying that people were directly affected by the floods

The World Bank representative further said that all stakeholders –governmental, non-governmental and as well as foreign donors in Pakistan – need to coordinate for reform and bright future for Pakistan

The WB regional director also said that the country s economic recovery was only possible if it brought urgent reforms The current economic policies cannot lead to stability”, he said, adding that challenges for the country’s economy continue to grow “Pakistan can achieve growth and be on a growth trajectory but requires a modified and reformed system as its current economic system lacks stability,” he concluded Recently, Asian Development Bank (ADB) issued an economic outlook report in Asia predicting

that Pakistan s gross domestic product (GDP) growth is projected to recover modestly to 1 9% in fiscal year 2023-24 from 0 3% in FY2023

According to the report inflation in Pakistan will decrease from 29 percent to 25 percent in the ongoing fiscal year as the country s economic confidence is expected to increase from the general elections in 202324 However high inflationary pressure will continue due to an increase in energy prices and the falling value of the rupee the report highlighted Pakistan 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 said ADB Country Director for Pakistan Yong Ye ADB Country Director said: Increase in global prices and slow economic growth is also a threat to Pakistani economy along with economic stability depends on sustained policy reforms

P M L- N , P P P s h o u l d avo i d a n y c o n f l i c t , a d v i s e s C h S h u j a a t

LAHORE

S TA F F R E P O R T

Veteran politician and PML-Q chief Chaudhry Shujaat has advised his former coalition partners PPP and PML-N to avoid conflict saying this is not in the country s interest The senior politician s remarks came during a meeting with former president Asif Ali Zardari on Thursday, during which the two held discussions surrounding the current political and economic situation in Pakistan

Shujaat whose party was a part of the previous coalition government in Islamabad expressed concerns regarding the ongoing political tensions between the two major political parties

Responding to the elderly politico, Zardari said his party has not done anything like that

He added that his party is talking in accordance with the Constitution and ground realities and not to engage in confrontation with anyone He emphasised

Pakistan, India attend WB-designated expert’s meeting in Vienna on water dispute

The officials from Pakistan and India joined proceedings at the Permanent Court of Arbitration in Vienna to settle the row over Pakistan’s objection to Kishenganga and Ratle hydroelectric projects of India

The meeting was convened by a neutral expert appointed by the World Bank on New Delhi s request under the aegis of the Indus Waters Treaty on Wednesday and Thursday

The Court of Arbitration, constituted by the World Bank in The Hague in July this year rejected New Delhi’s objections and concluded that it had the competence to adjudicate Pakistan s objection to the Kishenganga and Ratle HEPs of India India earlier had not participated in the proceeding at the Court of Arbitration instituted by the World Bank itself in The Hague at the request of Pakistan for adjudication of the same dispute over the two hydroelectric projects or HEPs Pakistan, however, this week participated in the neutral expert proceeding instituted at the request of India

that the rhetoric and confrontational stance between both political entities was not conducive to the country s stability Shujaat urged Zardari regarding the importance of maintaining a more cooperative approach

He also conveyed his intention to speak with PML-N supremo Nawaz Sharif about the need to avoid unnecessary political hostilities It is worth recalling that PPP Chairman Bilawal Bhutto-Zardari recently alleged that the 2013 election in Punjab was manipulated by certain elements including former Inter-Services Intelligence chief General Ahmad Shuja Pasha, former chief justice Iftikhar Chaudhry, and a political party

He also lamented the lack of a level-playing field

The former foreign minister's remarks led to a war of words between the leaders of the coalition parties that had recently governed the country together following the ouster of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, whose government was sent home following a no-confidence motion against him

The Indus Water Treaty (IWT) which governs the sharing of water of the common rivers by India and Pakistan, had created a Permanent Indus Commission (PIC), to oversee the implementation of the agreement It had laid out distinct procedures to deal with “questions”, “differences” and “disputes”

A “dispute” was to be referred to the “Court of Arbitration – an arbitral tribunal comprising seven members The IWT had assigned the World Bank which had also been a signatory of the treaty the task of appointing a neutral expert or a Court of Arbitration when requested by either or both of the parties Islamabad had in 2015 requested the World Bank to appoint a ‘neutral expert’ to examine its objections to the technical design features of two hydroelectric projects of India – the 330 MW Kishenganga Hydroelectric Project and 850 MW Ratle Hydro Electric Projects It, however, had in 2016 retracted the request and proposed that a Court of Arbitration should adjudicate on its objections New Delhi had on the other hand asked the World Bank to appoint a neutral expert to settle the differences

Par ty membership suspended: PPP debars Latif Khosa from CEC

Failure to reply to the show-cause notice issued last week, the Pakistan People’s Party (PPP) on Friday not only suspended party membership of the ‘disgruntled’ leader Sardar Latif Khosa but also ousted him from its central executive committee (CEC) PPP Secretary General Nayyar Bukhari confirmed the development to a private TV channel, saying the decision was taken after lawyer Khosa failed to reply to the show-cause notice issued to him by the party last week

On September 14 the PPP had issued a show-cause notice to Sardar Latif for rep-

resenting head of another political party without prior approval of [party] leadership” Although the latter did not mention anyone by name it was a clear reference to PTI Chairman Imran Khan who was arrested last month in the Toshakhana case Khosa has been representing the PTI chief in several cases registered against him The ex-premier is also facing a case under the Official Secrets Act which pertains to a diplomatic document which reportedly went missing from Imran s possession The PTI alleges that it contained a threat from the United States to oust Imran from power The show-cause notice served on Latif Khosa read: “You being member of central

executive committee are defending/pleading/representing a head of another political party without prior approval of leadership while delivering a speech in lawyers function you criticised the state policy regarding [the] cipher You are hereby through this show cause notice asked to explain why disciplinary action not be taken against you for working against the party policy; the reply should reach the undersigned within seven days failing disciplinary action will be taken against you by withdrawing your membership Previously, Khosa had also been served a show-cause notice for giving a statement in favour of the PTI chief

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