Epaper_23-10-17 KHI

CEASEFIRE PLANS STALL AS ISRAEL INTENSIFIES STRIKES ON GAZA In partnership with

Tuesday, 17 October, 2023 I 30 Rabi ul Awwal, 1445

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PALESTINIAN DEATH TOLL CLIMBS TO 2,750

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Profit

ISRAEL AMASSES THOUSANDS OF TROOPS IN THE DESERT NEAR GAZA BORDER

11 journalists killed, over 20 injured in Gaza since Oct. 7: Palestinian media ISTANBUL

AGENCIES

H

GAZA AGENCIES

OPES for a brief ceasefire in southern Gaza to allow foreign passport holders to leave the besieged Palestinian enclave and aid to be brought in were dashed on Monday, with Israeli bombardments intensifying ahead of an expected ground invasion Authorities in Gaza said at least 2,750 Palestinians had so far been killed by Israel’s brutal retaliatory strikes, a quarter of them children, and nearly 10,000 wounded. Another 1,000 people were missing and believed to be under rubble.

Residents of Gaza said the overnight strikes were the heaviest yet in nine days of conflict. Many houses were flattened and the death toll rose inexorably, they said.

Israeli aircraft bombed areas around Gaza City’s Al-Quds hospital early on Monday and ambulances at the facility

Rs 40.00 | Vol XIV No 107 I 40 Pages I Karachi Edition

were unable to move due to the strikes, Palestinian media reported.

Diplomatic efforts have been underway to get aid into the enclave, which has endured unrelenting Israeli bombing since October 7.

Earlier on Monday, Egyptian security sources had told Reuters that an agreement had been reached to open the crossing to allow aid into the enclave.

But Israeli Prime Minister Benjamin Netanyahu’s office said in a statement: “There is currently no truce and humanitarian aid in Gaza in exchange for getting foreigners out.” Chief military spokesperson Rear Admiral Daniel Hagari also said there was no Gaza ceasefire and that Israel was continuing its attacks.

Israel has massed forces outside the long-blockaded enclave of 2.4 million in preparation for what the army has said would be a land, air and sea attack involving a “significant ground operation”.

“We are at the beginning of intense

Eleven journalists have been killed in the Gaza Strip, with more than 20 injured and two missing since the start of the recent Israeli airstrikes, a Palestinian journalists group said in a new report.

According to the report released Sunday by the Freedom Committee, affiliated with the Palestinian Journalists Syndicate, 11 Palestinian journalists have been documented as killed by Israeli airstrikes since Oct. 7.

A statement by the group provided “documentation of the targeting of journalists” from the start of the war on the Gaza Strip until the evening of Oct. 15.

It also decried “the violent escalation in the targeting of Palestinian journalists.”

Over 20 injuries were also observed, the most serious of which occurred in the Gaza Strip. Following the announcement of the complete or partial shelling of approximately 20 homes belonging to journalists, the Israeli army escalated by targeting the residences of several journalists directly, said the report. This led to injuries and

or enhanced military operations in Gaza City,” spokesman for the Israeli Defense Forces (IDF) Jonathan Conricus said.

Hamas official Izzat El Reshiq told Reuters that there was “no truth” to the reports about the opening of the crossing with Egypt or a temporary ceasefire.

Egypt has said the crossing remained open from the Egyptian side in recent days

the tragic loss of family members.

In addition, approximately 50 headquarters and media institutions were destroyed as a result of shelling, including Al-Aqsa Media Network, Ma’an News Agency, Al-Quds newspaper, Baladna Radio, Zaman Radio, Al-Quran Radio, the Al-Jazeera Network office, Palestine TV, and the AFP offices, according to the report.

In the occupied West Bank, the report also documented several Palestinian journalists being injured and the assault, detention, blocking of coverage, firing on journalists, and confiscation and destruction of journalists’ equipment by Israel forces.

The report also decried interference with media broadcasts. The report said: “The Al-Aqsa channel ceased transmission via the Eutelsat satellite in response to the occupation’s pressure.”

The report also noted “direct threats to many journalists and campaigns of incitement by Israeli pages on social media platforms” and “many Israeli posts calling for the elimination of journalists and describing them as saboteurs and terrorists.”

but was rendered inoperable due to Israeli bombardments on the Palestinian side.

Egyptian Foreign Minister Sameh Shoukry said on Monday that the Israeli government had yet to take a stance that allowed the crossing to open. He called the situation faced by the Palestinian people in Gaza “dangerous”.

CONTINUED ON PAGE 03

IN TODAY’S ISSUE

ATTENTION Some readers have complained that they are not getting the magazine with their newspaper copy. Please call or WhatsApp us at the following number to register a complaint.

Contact: 0307-7338168 irfan.farooq@pakistantoday.com.pk

A bid from Prax, and interest from Aramco; what’s going on with Shell? g

SHELL LOOKS TO BE SOLD TO A FOREIGN BUYER AND, FOR ALL INTENT AND PURPOSE, IT SHOULD PROFIT

DANIYAL AHMAD

Shell Pakistan has become a coveted prize. It has been wrested from the grasp of local investors, and foreign interest seems to be surging. The company heralded the dawn of the week starting on October 16 with the news that a global oil behemoth has expressed interest in making a bid for the company. The revelation came on the back of a weekend full of whispers that the world’s largest oil company is also eyeing Shell Pakistan.

How are Shell Pakistan and Shell International reacting to all this?

“On 14 June 2023, Shell Pakistan Limited (SPL) informed that the board had been notified by Shell Petroleum Company Limited (SPCo) of its intention to sell its 77.42% shareholding in SPL,” stated the company.

“SPL has been informed by SPCo that SPCo is conducting a targeted sales process which will entail further due diligence and negotiations with potential buyers, and at this stage is witnessing robust interest from both international and domestic parties. As SPL is a listed company, during the course of the sale process, some potential buyers may issue a statement of public announcement of their intention to acquire SPCo’s shares in SPL pursuant to Pakistan securities and listing rules,” they added.

CONTINUED ON PAGE 03

02 NEWS

PAK, CHINA TO SIGN NUMEROUS AGREEMENTS DURING PM’S VISIT: FM

F

ISLAMABAD

Staff RepoRt

OREIGN Minister Jalil Abbas Jilani said that Caretaker Prime Minister Anwaarul Haq Kakar’s visit to China will cement the Pakistan-China friendship further.

He arrived Beijing on Monday, Gwadar Pro reported. This visit is in connection with the third Belt and Road Forum for International Cooperation (BRF) to be held in Beijing from Oct. 17 to 18. Talking to media persons here, Jalil Abbas Jilani mentioned that the PM’s participation in the forum will involve addressing a high-level gathering with the theme of “Connectivity in an Open Global Economy.” This visit is significant as it offers an opportunity to

assess the extensive spectrum of cooperation between Pakistan and China, particularly within the framework of China-Pakistan Economic Corridor (CPEC) and Belt and Road Initiative, which is now celebrating its ten-year an-

niversary, he added.

The Foreign Minister elaborated that during this visit, the Prime Minister is scheduled to hold bilateral meetings with Chinese leaders along with other prominent figures attending the third

Belt and Road Forum.

He informed that the Prime Minister will engage Chinese business leaders, including heads of major corporations, to explore potential areas of cooperation and potential joint ventures in Pakistan.

FM Jilani also highlighted the expected signing of numerous agreements and Memorandums of Understanding (MoUs) during this visit. These MoUs are likely to span various sectors, such as agriculture, health, industry, green energy, and space technology, he remarked. The Foreign Minister stressed that this visit aims to strengthen the already robust bilateral relations between Pakistan and China. “It provides an excellent opportunity to comprehensively review the entirety of their cooperation, including China-Pakistan Economic Corridor,” he explained.

Tuesday, 17 October, 2023 | KARACHI

Cypher case: IHC dismisses PTI chairman’s plea against jail trial

ISLAMABAD: Islamabad High Court (IHC) on Monday dismissed PTI chairman’s plea against his jail trial in cypher case. The verdict reserved on September 12 was announced by the IHC Chief Justice, Aamer Farooq.

Announcing the reserved verdict, the IHC CJ dismissed the former prime minister’s plea against jail trial with guidelines. The short verdict said the jail trial in the cypher case is in the favour of the PTI chief in the wake of security threats. The court does not see ill intentions in the jail trial of the PTI chairman as he had been expressing threats regarding his security in the court, the verdict said. The verdict released by IHC further said the plaintiff can contact the trial court over his concerns. It is pertinent to mention here that the PTI chief and vice chairman were booked for ‘deliberately missing a copy of the diplomatic cypher’. The first information report (FIR) was registered on August 15 under the Official Secrets Act. It was registered on the complaint of the Home Secretary. The case was registered after Azam Khan, exprincipal secretary to the PTI chairman and former prime minister made startling revelations and claimed that the former PM used US cipher for his ‘political gains’ and to avert a no-confidence motion against him. Staff RepoRt

Tuesday, 17 October, 2023 | KARACHI

A BID FROM PRAX, AND INTEREST FROM ARAMCO; WHAT’S GOING ON WITH SHELL? CONTINUED FROM PAGE 01

“Any sale by SPCo of its shares in SPL remains contingent on the execution of binding documentation and the subsequent receipt of regulatory approvals, and further announcements will be made by SPCo and SPL at those times,” they concluded.

SO, WHAT’S UP? Who is Prax, and why would they want Shell?

Headquartered in London, Prax is a British multinational, independent global energy conglomerate dealing in crude oil, petroleum products and bio-fuels, with a complete integration across the oil value chain, from upstream to downstream.

At the core of Prax Group’s operations are exploration & production, refining, logistics, and integrated supply & optimisation. The Group’s assets and investments are strategically designed to complement and enhance these activities. The Group employs a robust workforce of 1,450 individuals, spread across 8 offices worldwide. The Group’s downstream marketing and distribution businesses bear the Harvest Energy brand.

Meanwhile, its midstream and upstream businesses, encompassing refining, blending and exploration and production, carry the Prax brand.

Collectively identified as the Prax Group, it encompasses a total of 66 companies within the corporate structure and 3 subsidiaries.

The company has a global footprint with operations spanning across the United Kingdom, Belgium, the United States of America, Singapore, Kazakhstan, Switzerland, China, the Netherlands, Nigeria, and Albania.

The company has set its sights on acquiring an impressive 77.42% – equivalent to 165.7 million shares – through an agreement. Additionally, it aims to secure an extra 11.29% – translating into 24.16 million shares – through a public offer. This ambitious move could potentially result in a total acquisition of 88.71%. In executing this strategy, they will not only have bought out SPCo’s share (the 77.42%) in SPLn but will also have bought out additional shareholders (the 11.29%) to consolidate their position.

As of this writing, SPL’s market capitalisation stands at a substantial Rs 34 billion or $127 million.

This acquisition strategy is not only ambitious but also makes perfect business sense.

Despite grappling with high prices and rampant inflation, Pakistan’s demand for refined petroleum products is projected to increase at a compounded annualised growth rate of 3%, reaching 682,970 barrels per day (bpd) by 2032. This trend provides Prax with a sustained demand for their product for at least a decade. Moreover, as an oil marketing company (OMC), SPL provides Prax with a significant footprint in the Pakistani market.

SPL’s market share in the OMC segment has unfortunately plummeted from 10% in fiscal year 2015 to 6% in fiscal year 2022. However, with over 600 filling stations scattered across the country, there is still potential for growth.

Most importantly, however, the majority of demand for petroleum products in Pakistan is set to be met with imported petroleum products. Imports are set to rise in a similar vein to general consumption. What does this mean? Prax can acquire the imported petroleum products from their own global subsidiaries to meet their Pakistani OMCs needs.

More importantly, the deal works for Shell.

SHELL’S NEED FOR A FOREIGN BUYER SPCo announced its parent company’s intention to divest from the Pakistani market in June of this year.

This publication has already provided an extensive analysis of the reasons behind the company’s decision to sever ties with Pakistan.

However, the decision to exit the Pakistani market boiled down to two identifiable reasons: Pakistan-specific risks to which the company was exposed, and its plans for global restructuring across various different markets. One of the key topics of discussion that has risen since the announcement is how SPCol would actually extract its funds from Pakistan.

The company is a multinational, and therefore all money that it would want from the transaction would have to be given to it in the form of US Dollars, or perhaps Pound Sterling or the Euro. All of which Pakistan is short of, and whose flow out of the country we have actively tried to stem over the past year in various different ways.

“The major impediment to the company’s exit would be finding a way to arrange the dollars that

would have to be paid to Shell abroad,” explains Mustafa Pasha, Chief Investment Officer at Lakson Investments. “If it was a domestic buyer, then the regulator would probably say that, fine, if you want to execute this transaction, then do you have the ability to arrange dollars from abroad so that Shell can be paid off and the net outflow from Pakistan is negligible,” Pasha adds This is exactly what Pakistan Refinery (PRL) did earlier this year when it made a bid to buy out SPCo. Amongst its various different plans to make the payment, it also entertained the idea of settling the transaction entirely abroad. This was also perhaps the main reason why it partnered with a mobile manufacturing and distribution company with offices outside of Pakistan.

In any capacity, PRL would have had to finance a dollar-based transaction with Pakistani Rupees and therefore add pressure to the country’s already precarious foreign currency reserves. However, SPCo seemingly wants nothing to do with the Pakistani regulator altogether.

Confidential sources intimately acquainted with the situation have revealed to Profit that SPCo has, in fact, dismissed the joint venture of PRL and Airlink.

The rejection was primarily due to dissatisfaction with the proposed financing mechanism. Moreover, when viewed in conjunction with the notes from Attock Petroleum’s recent corporate briefing, it becomes clear that Shell is seeking a foreign buyer.

Although Attock did mention that SPCo appeared to have already chosen a buyer, Profit has been informed of additional bids on the horizon — particularly from overseas. The only plausible explanation for this scenario is that SPCo is resolute in its decision to secure a foreign buyer for SPL. This apparent preference for a foreign buyer not only bolsters the likelihood of Prax’s bid being accepted but also substantiates the whispers about Saudi Aramco’s interest in SPL. The question arises — why would Aramco be interested in SPL? The answer lies in the fact that such an acquisition could potentially resolve numerous challenges for the Kingdom that operates this state-owned oil behemoth.

AN OUTLET FOR THE SAUDI REFINERY The Petroleum Refining Policy, formally known as the Pakistan Oil Refining Policy for New/Greenfield Refineries 2023, was unveiled earlier this summer. This policy has been tailored specifically for a single project – a greenfield deep conversion integrated refinery and petrochemical complex with a crude oil processing capacity of 300,000 bpd. This project is being established in collaboration with Saudi Arabia to the tune of $10 billion.

The policy does not permit any future refinery projects that utilise a different oil refining process or technology other than deep conversion, or have a capacity less than 300,000-bpd. Moreover, it stipulates that it must be an integrated refinery and petrochemical complex, regardless of feasibility. Refinery projects with a capacity of less than 300,000-bpd will be considered under a separate package offering lesser incentives and concessions.

With a theoretical refining capacity of 400,000 bpd, Pakistan is woefully inadequate to meet its petroleum needs. Consequently, it imports a staggering 70% of its motor gasoline (petrol) and 60-65% of its high speed diesel (diesel). The Saudi refinery, however, promises to be a game-changer. It will not only double Pakistan’s refining capacity – considering how our local refineries seldom reach the 400,000 bpd mark – but also offer a full conversion facility.

Unlike our local refineries, which are hampered by the furnace oil production, the Saudi refinery will exclusively produce petrol, diesel, liquified petroleum gas, and petrochemicals.

This means that once operational, the Saudi refinery will significantly augment the supply of petrol and diesel in the country. Furthermore, the aforementioned advantages of having an OMC in Pakistan over the next decade also apply to Aramco — and to a larger extent too.

Naturally, Aramco would prefer to have its own OMC to distribute its product rather than depend on other players. The reasons are obvious: better planning and higher margins. All refineries with an OMC arm leverage it to boost their core sales. These wings enable them to forecast better, minimise inventory losses, maximise inventory gains, and capture the total integrated margin a refinery could earn. This entails internalising the refinery margin, the OMC margin, and even the dealer margin if they directly own their pumps.

This brings us to the elephant in the room. How

would the Saudi government benefit from all this?

The kingdom on a buying spree, and the country that needs capital injections Let’s get one thing clear. If the company placing the bid is Aramco itself — not its trading subsidiary or any of its subcontractors — then this implies that the transaction has received sovereign approval. One might wonder, why would the Saudi government have an interest in acquiring Shell in Pakistan, of all places?

“This transaction aligns with Saudi Arabia’s interests on several fronts,” articulates Haroon Sharif, the Former Chairman of the Board of Investment.

“Primarily, they can reassure Pakistan of their support for its balance of payment needs, however modest they may be.” He further adds, “Secondly, they can implement their strategy of broadening their regional footprint.”

Sharif continues to explain the strategic importance of this move. “Thirdly, and perhaps most significantly, they can exert greater diplomatic influence in the region by increasing their stakes here.” He concludes by saying, “Lastly, under the current recessionary conditions, they might secure a lucrative asset price.”

In essence, the Saudis will have communicated to Pakistan that they are increasing their stake in the country and bolstering the Government’s coffers — albeit through the PSX, rather than physical assets.

There are limited assets that can be evaluated and traded through the market. Therefore, Shell Pakistan, OGDCL, and other listed companies are easier to divest and purchase because a corporate governance mechanism is in place.

It is a stock market transaction and financial advisors might find it more comfortable than working on pricing mechanisms for hard assets. Furthermore, it provides the Saudis with a more straightforward mechanism to liquidate their investment if necessary.

When it comes to listed companies, it might be more beneficial for the Pakistani government to have Shell act as a conduit for investment rather than sell off OGDCL in its current state. After all, they would still be receiving a financial injection and replacing one repatriation stream with another rather than creating an entirely new one.

The real advantage for Pakistan in Shell being bought out by Armaco lies in the potential spillover effects that it might generate.

“The fact that Aramco is a prospective bidder lends credibility to the view that the Saudis are keen on Pakistan and are looking to increase their stake here,” states Pasha. He further adds, “I think overall that’s a positive for Pakistan because the Saudis have been on a buying spree; they’re flush with liquidity and have their 2030 vision.”

Pasha continues his analysis by saying, “If Pakistan even figures as part of that vision in a small way, it can result in significant dollar inflows over the next six months to a year.”

This is crucial because we have pinned many of our hopes on the Saudis coming to Pakistan in a big way — whether it is in the form of deposits, foreign direct investment, refinery, Reqo Diq or corporate farming.

WHY PAKISTAN NEEDS A FOREIGN BUYER FOR SHELL First, and foremost, settling the transaction abroad will not only save Pakistan from a foreign exchange outflow but might even bring a small chump of change in terms of foreign exchange too.

Any time there’s a change of ownership in excess of 30%, it requires a tender or bidding process for minority shareholders where the acquirer has to bid for at least 50% of the outstanding float that is not being purchased from the majority buyer.

SPCo owns 75%of SPL and it’s open to exit its entire stake, that means the float is around 2%. So whoever ultimately makes the acquisition they would at minimum have to bid for 50% of the minority float, right, which is 12.5% of SPL’s shares. Subsequently, the minority shareholders that might be frothing at the mouth with all these developments will also be the reason for an ever so slight foreign exchange injection into Pakistan.

The other thing that having a foreign buyer, irrespective of who buys it in the end, is that there’s also the positive image building that it could potentially do for the country. “If a foreign player comes here, it’s indeed a reassuring factor that an international company has confidence in Pakistan’s market,” explains Sharif.

This is particularly important when you’ve witnessed the exit of HSBC, Eli-Lily and are currently overseeing the exit of Lotte Chemical and Telenor.

Ceasefire plans stall as Israel intensifies strikes on Gaza CONTINUED FROM PAGE 01

The situation remained unclear at the Rafah crossing, the only one not controlled by Israel. Reuters journalists said a small crowd of people had gathered there waiting to enter Egypt. The United States had told its citizens in Gaza to get close to the crossing so they can move out. The US government estimates the number of dual-citizen Palestinian-Americans in Gaza at 500 to 600.

Washington is also seeking to secure the release of 199 captives that Israel claims were taken by Hamas back into Gaza. US President Joe Biden has sent military aid to Israel but also stressed the need to get humanitarian aid to Palestinian civilians and urged Israel to follow the rules of war in its response to the Hamas attacks. More than one million flee: More than one million people have fled their homes in Gaza in scenes of chaos and despair as Israel bombarded the besieged territory and continued massing troops Monday in preparation for a full-blown ground invasion.

Following an Israeli order to move to the south of the Gaza Strip, people have fled their homes in the north of the enclave to seek shelter wherever they can, including on the streets and in UN-run schools.

Palestinians carrying whatever belongings they can, in bags and suitcases, or packed onto three-wheeled motorbikes, battered cars, vans and even donkey carts have become a common sight. “No electricity, no water, no internet. I feel like I’m losing my humanity,” said Mona Abdel Hamid, 55, who fled Gaza City to Rafah in the south of the enclave, and is having to stay with strangers.

Humanitarian crisis deepens: As the humanitarian crisis deepened, with food, fuel and water running short, hundreds of tons of aid from several countries have been held up in Egypt pending a deal for its safe delivery to

Gaza and the evacuation of some foreign passport holders through the Rafah border crossing.

Reserves of fuel at all hospitals across the Gaza Strip are expected to last only around 24 more hours, putting thousands of patients at risk, the United Nations Humanitarian Office (OCHA) said early on Monday. In Tel Al-Hawa in Gaza City, Israeli planes bombed a main road and damaged surrounding houses, forcing hundreds of residents to take shelter in the Red Crescent’s Al-Quds Hospital, residents said.

Israeli planes bombed three headquarters of the Civil Emergency and Ambulance Service in Gaza City, killing five people and paralyzing the rescue services in those areas, health officials said. In a bombing of a house belonging to the Abu Mustafa family in Khan Younis refugee camp, five members of a family were killed. Suhail Baker, 45, said he woke up to the sound of an explosion from an Israeli air strike that destroyed the house of his neighbour, killing five people.

“We woke up in horror, and we see them dismembered, it took a long time to remove the rubble by the bulldozers to recover the bodies,” said Baker.

At a nearby street in Khan Younis, Abu Ahmed, an elderly man sitting outside his house, said: “Israel has taken a decision to kill every last one of us.”

More than one million people – almost half the total population of Gaza – have been displaced within the enclave, the United Nations said. The UNWRA agency said it was struggling to cope with their needs.

People across Gaza have severely limited access to clean drinking water. As a last resort, people are consuming brackish water from agricultural wells, raising concerns over the spread of waterborne diseases. For the fifth consecutive day, Gaza has had no electricity, pushing vital services, including health, water and sanitation to the brink of collapse, and worsening food insecurity.

NEWS 03

Mango export potential compromised by alleged foul play by govt dept ISLAMABAD

Ghulam abbaS

An alarming issue came to light during a meeting in Multan, chaired by Secretary Ministry of National Food Security and Research (MoNFS&R) Muhammad Mehmood. Owners of HWT plants expressed concerns that 75% of mango exports to Iran were being handled by a single company, sparking accusations of favouritism by the officials of the Department of Plant Protection (DPP) towards certain HWT plant owners.

According to official data, Pakistan has been able to export 96512 Metric Tons of mangoes this season. The export figures were positive, despite multiple interceptions and detection of fruit flies in Pakistani mangoes in Iran. This also led to the suspension of accreditation for seven Hot Water Treatment (HWT) plants by the Iranian authorities.

BACKGROUND: Hot water treatment for mangoes is a post-harvest treatment process used to control pests and diseases in the fruit. It involves immersing mangoes in hot water at a specific temperature and duration to eliminate or reduce the presence of insects, larvae, and pathogens on the fruit’s surface. This treatment is primarily used for mangoes intended for export to meet the phytosanitary regulations of importing countries.

Under Iranian phyto standards, mangoes require hot water treatment to prevent the spread of pests and diseases. It was alleged that mangoes being produced in Pakistan were not getting the HWT from an approved plant of the Department of Plant Protection (DPP) hence their export was halted.

Exporters earlier expressed the fear that the plant might still be in violation of Iran’s phyto standards even though it has the DPP’s approval. According to documents obtained, a mere 26% (33708 MT) of the total mango exports (130221 MT) were treated.

THE ALLEGATIONS: On the topic of favouritism towards one HWT plant, Babar Durrani, the owner of the said HWT plant, Durrani Associates, defended his company’s practices, stating that his facility, as a pioneer in HWT in the country, had not faced any interceptions. However, smaller HWT plants were suspended due to interceptions, leading to allegations of unfair treatment and favouritism. Tariq Khan, a Multan-based HWT plant owner, accused certain DPP officials of shutting down treatment plants arbitrarily while supporting a specific company. Director General of DPP, Abid Alladita, denied the allegations, emphasising that the department was implementing standard operating procedures (SOPs) shared by the ministry in response to interceptions from Iran.

Amidst heated debates and complaints, the secretary decided to form a committee comprising experts, officials, and HWT plant representatives to devise a strategy for enhancing future mango exports to Iran.

The committee was tasked with suggesting solutions and achieving a target of exporting 50000 MT of treated mangoes to Iran in the next season.

Amendments proposed to pension rules ISLAMABAD

Shahzad Paracha

The Pay and Pension Commission (PPC), has proposed amendments in the pension scheme for existing pensioners and employees of the Government of Pakistan. The amendments are proposed in line with the increasing cost of pensions, which are expected to cross the Rs 1 trillion mark in the upcoming years.

Sources said that the PPC has proposed amendments to curtail future increase in pension costs, without compromising on the government’s pension philosophy.

Over the last 12 years, Pakistan’s federal pension budget allocation has gone up by 500%. Earlier this year, the government allocated Rs. 761 billion in pensions for federal employees, which was later reduced to Rs 654 billion. This includes military and civil pensions and an additional 10 billion for a proposed pension fund. The total pension expenditure that is estimated this year, is a whopping 25% more than the previous year.

Following are the changes proposed to the pension structure for government employees.

CALCULATION OF GROSS PENSION Under the new proposal, government employees shall be entitled to a gross pension, which is 70% of average pensionable emoluments (base salary) drawn during the last thirty-six months of service, prior to retirement. This means that a person whose salary is Rs 100,000 in the last 3 years, will be entitled to Rs 70,000 in pension.

EARLY RETIREMENT PENALTIES A government employee may opt for early retirement after putting in 25 years of service; however the employee shall be liable to a penalty of 3% per year in gross pension, with effect from retiring year till the age of superannuation (actual retirement age).

FUTURE INCREASE Any increases in pension shall be granted on the pension calculated at the time of retirement. Each increase shall be maintained as a separate amount until the time the government decides to review and authorise any additional pensionary benefits. This proposal is expected to cater to the issue of compounded pensions.

The government, for the first time included future retirees in the receivers of the increment awarded in 2009. In the following years, the same act was repeated more than 6 times. The step compounded increments for retirees, leaving service after 2020 for up to 6 times.

14

04 COMMENT

Pakistan-China partnership

Tuesday, 17 October, 2023

On ‘criminal’ defamation

T

The Editor was almost arrested yesterday

HE offices of this newspaper had a few uninvited visitors yesterday: the police, bearing the nonbailable arrest warrants of the CEO and Editor of Pakistan Today, who are also the Publishing Editor and Joint Editor respectively, of Profit, the paper’s business, economy and finance magazine. Both of them having been away on official business, and therefore not present at the office, turned out to be fortuitous. In addition, two other individuals (a current and former staffer) also have arrest warrants in the same case.

The case: the saga started some months ago, when Profit thought the manner of acquisition of Bank Islami by the JS Group didn’t quite pass the smell test. An investigative feature laid bare, quite meticulously, the methodology employed by the JS Group, through the stock market, to gain controlling shares of Bank Islami.

The feature ended with the opinion that the small shareholders seem to have been kept away from the advantages that such takeovers yield to all shareholders.

Some time later, the Securities and Exchange Commission of Pakistan, the government body that is supposed to, in addition to other things, look out for the interests of shareholders, large and small, made some changes to the very process of acquisitions and takeovers that seemed to directly address the issues raised by Profit.

In another country, with freedom of press, this vindication would have meant a celebration at the offices of the publication, and a pat on the back by all small shareholders on the stock exchange, whether or not they held Bank Islami shares. Check and check, that did happen. But in addition to that, the churlish group behind the takeover filed a case of criminal defamation. In Thatta, Sindh, more than a thousand kilometers away from our office. This being a criminal defamation case means the individuals would have to go all the way to Thatta to appear in court.

All over the civilized world, criminal defamation laws have been done away with, making the issue a civil matter. In Pakistan, filing criminal defamation cases, and then gaming the system to twist the knife, is still very much an option. Specially for those who don’t want to be written about, if they know the gears and the levers of the system, and know which palms to grease.

None of the above deters this publication from going about its journalism. But we financial journalists, like our tribe across the beats, across publications, and across the world have to keep saying: #journalismisnotacrime.

Bridging nations, building communities

T

AnwAAr-ul-HAq KAKAr

HE tale of Pakistan-China relations is not an ordinary one. It is an account of brotherhood, friendship and trust whose foundations were laid more than seventy years ago.

The vision of the leadership of our two countries at the time laid a solid basis for a relationship, which has subsequently been carefully nurtured into a robust, vibrant, time-tested, all-weather strategic cooperative partnership. Pakistan and its people, I can say with absolute confidence, value the relationship greatly, and proudly call China our ‘Best Friend’.

It is heart-warming that in China, the term ‘Ba Tie’ (Iron Brother), is reserved only for Pakistan.

The timeless Pakistan-China partnership and deep-rooted friendship serves the interest of both countries, being the historic choice of our people.

Pakistan’s relations with China remain the cornerstone of our foreign policy. The close time-tested friendship with China enjoys the abiding support of the people of Pakistan.

With a time-honored history of brotherhood, our two countries have stood together in rain or shine, building an exemplary ‘iron-clad’ friendship. Despite the vicissitudes of times and changes in international landscape, the All-Weather Strategic Cooperative Partnership has grown into a towering tree with its deep roots of love in the hearts of the two peoples.

The bond of love and affection, that the peoples of the two countries have for each other, indeed remains “higher than the mountains, deeper than the sea and sweeter than honey”.

Zhou Enlai, China’s first Premier, once said, that the friendly interactions between the peoples of China and Pakistan date back to the dawn of history. Certainly, Pakistan-China relations are the continuation of ancient civilizational bonds that had existed between our two nations since ancient times. The flow of trade through the ancient Silk Road and geographical proximity brought the two great Asian civilizations together. Monks and thinkers from China made their historical journeys to Taxila and other Buddhist places in Pakistan, painting a beautiful picture of Gandhara civilization and bringing Buddhist wisdom

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

Yousaf Nizami

to China, thus binding the two nations together in an everlasting bond.

The historical evolution of Pakistan-China relationship, and its growing importance in the wake of evolving regional and global developments, remains an exemplary model of inter-state relationship. The unique relationship of seven decades, underpinned by the rationale of strong political support, mutual trust and all-round practical cooperation, has matured into a strong strategic partnership.

I would soon be traveling to Beijing, on my first visit after assuming office, to participate in the Third Belt and Road Forum for International Cooperation – the event which will mark the completion of a decade of Belt and Road Initiative (BRI), the iconic and visionary project of President Xi Jinping.

We pay tribute to the vision and statesmanship of President Xi Jinping who, ten years ago, propounded the Vision of a Community with a Shared Future for Mankind, introducing a novel concept for international development partnership, a new idea for global governance and cooperation, and a fresh approach towards international exchanges, thus drawing up a new blueprint for a better inter-connected world.

The core of the visionary concept is built on socio-economic development; with focus on the elements of inclusivity, common prosperity and win-win cooperation. It embodies the ideals of an open, interconnected, clean and beautiful world that enjoys lasting peace and sustainable security.

As we delve more into this concept, it becomes clear that it draws upon the ancient Chinese philosophy and wisdom. The concept of tiānxihe, translating as “harmony under heaven”, refers to the whole world and promotes diversity, while emphasizing harmonious and mutual inter-dependence as the means to enduring peace.

As noted by the recent white paper released by the Chinese State Council, BRI is a ‘key pillar’ of the Global Community of Shared Future. The subsequent unveiling of the concepts - including Global Development Initiative (GDI), the Global Security Initiative (GSI) and the Global Civilization Initiative (GCI) - have further refined the concept of “Shared Community.”

Pakistan was amongst the first countries to join BRI. As the flagship project of China’s Belt and Road Initiative, CPEC marks a milestone in Pakistan-China relations; by placing economic cooperation and connectivity at the very center of bilateral agenda, making the two countries more inter-connected than ever before. CPEC remains a shining example of the BRI’s promise of economic prosperity and connectivity. It has transformed the socio-economic landscape of Pakistan, upgrading modern infrastructure, enhancing regional connectivity, ensuring energy security and creating jobs.

This year Pakistan hosted a series of events and activities marking the successful first decade of CPEC. We were also pleased to welcome Chinese Vice Premier He Lifeng, as Special Envoy of President Xi Jinping, in Pakistan to attend ten-year celebrations of China Pakistan Economic Corridor.

Pakistan remains committed to the high-quality

The dilemma of compulsion Editor Umar Aziz M. A. Niazi Joint Editor

Executive Editor

P

Ali AbbAs

EACE of mind, safety, security, a thriving atmosphere, freedom, and tolerance – these are the qualities any person, man or woman, young or old want wherever they live. But what if the place where you live is cursed by constant wars, violations, unjustified restrictions, persecutions and exploitation? The automatic response to that is to flee and seek refuge in better places.

This is the plight of the refugees from Afghanistan – some of whom since decades and some quite recently have sought refuge within Pakistani soil – out of fear of their life, honor and dignity. Yet, these same values they intended to protect through seeking refuge seem to be under threat, this time, however, by the Pakistani interim government in its drive to repatriate as many Afghan refugees as possible by October 31.

It is certainly a cause for distress among the Afghans who reside here. Many have invested in businesses that have been thriving for years – a lot of them study in public and private sector universities, a huge number of them are thankful just to be able to live in comparative peace even sans upward social mobility. Historically, Pakistan’s policy in face of the flood of refugees coming from Afghanistan has been comparatively re-

especially the most vulnerable segments of them and not force upon them a forced repatriation.

The Taliban in Afghanistan are still trying to make sense of governance, they are yet to understand true statecraft which focuses on both provision of security and the provision of welfare to its people. And most of all they need to realize the multi-ethnic character of the Afghan demography where different ideologies and beliefs exist. The Taliban must yield to plurality and give breathing space to all ethnicities.

With the current status quo in Afghanistan, the indiscriminate repatriation of all Afghans is an unwise policy. There is no guarantee that after the repatriation of the Afghan refugees, the security condition will improve in the region or that the Afghan Taliban would not persecute them further.

The government of Pakistan must understand the true motives behind the flow of refugees across the border, which to the keen observer is purely based on socio-economic and security needs.

One of the policy options for Pakistan is to integrate these immigrants into the Pakistani social fabric. It is possible to grant them citizenship granted that they reside here for a chosen period of time without partaking in illegal activities or crimes. But if that is not the chosen policy pathway then the least the government should streamline their presence according to the rules of the government where they have rights and responsibilities comparable to a Pakistani citizen if not at par with it.

A more viable option would be for the Pakistani government to wait for conditions to better in Afghanistan while in the meantime working proactively in assisting the Afghan authorities for achieving the same end; this way, most of the refugees would return voluntarily and a forced repatriation would not be warranted.

Sending the immigrants back to where they came from under the current status quo in Afghanistan nullifies their desperate attempt to secure a comparatively peaceful future and is tantamount to referring the fleeing subjects back to the butcher.

The writer is a freelance columnist

One of the policy options for Pakistan is to integrate these immigrants into the Pakistani social fabric. It is possible to grant them citizenship granted that they reside here for a chosen period of time without partaking in illegal activities or crimes.

Lahore – Ph: 042-36300938, 042-36375965

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Long live Pakistan-China Friendship!

The writer is caretaker Prime Minister of Pakistan

Editor’s mail

laxed. It deserves appreciation since there are no as a responsible state the leaders of this country The case of the Afghan refugees other neighbors of Afghanistan whose immigra- must showcase enough empathy for the refugees tion policies can compete with that of Pakistan, especially in terms of ease for the refugees.

Notwithstanding that, Pakistan has its own geopolitical compulsions coupled with deteriorating security with Afghans alleged to be, to a degree, responsible for it. This perception unfortunately has been responsible for stirring up a lot of hate for the refugees and has also prompted the Pakistani government to send the refugees back to their country.

However, it is to be understood that the sort of collective punishment inflicted upon all Afghans is worthy of criticism. One can argue that not all Afghan nationals participate in terrorism or illegal activities, contrary to common belief the number of Afghans involved in illegal activities is quite lower than perceived and most of them are peaceful and industrious.

Another point to be noted is that the notion of ‘Afghan’ is misleading to an extent. That is, Afghan itself is not an ethnicity and certainly cannot be applied to define all those who have come from Afghanistan. Like Pakistan, Afghanistan too is multi-ethnic, prominent among them being Pashtuns, Hazaras, Tajiks and Uzbeks and one will find Afghans of different ethnicities as refugees in Pakistan. In context of this, one must realize that different ethnic groups have fled Afghanistan for different reasons.

For instance, the most targeted ethnic group, historically and contemporarily have been the Hazaras who were massacred by the Taliban in the early 1990s prompting mass exodus of the people to neighboring Pakistan and Iran. Anticipating another episode of butchery, Hazaras fled to Pakistan in the aftermath of the re-establishment of the Islamic Emirate in 2021.

Out of all ethnic groups the Hazaras are the most vulnerable due to their separate sub-Islamic beliefs that are a shade different from the Taliban who in return are notorious for their lack of tolerance for other beliefs.

The Afghan refugees certainly have strong reasons for their exodus, leaving their properties, businesses and memories behind in order to ensure their survival. Even though Pakistan is not a signatory to the Geneva Convention of 1951, yet

implementation and completion of the second phase of CPEC. We fully endorse China’s proposal of developing CPEC as a corridor of growth, innovation, livelihood, green economy, openness and inclusiveness – representing our two countries’ preference for human-centric approach, inclusivity and green development.

Pakistan is also a pioneering member of GDI Group of Friends and has played an active role in giving it a more concrete shape. As the first priority partner under GDI, and the first one to ink an MoU on GDI, Pakistan stands ready to benefit from this cooperation in areas of education, health, climate change and poverty reduction, thus making meaningful contributions to achieving the SDGs in a timely manner.

Pakistan has also supported the GSI and its adherence to the UN Charter and principles of multilateralism and non-interference in internal affairs.

Having suffered for long due to unresolved disputes, conflicts and terrorism, we also advocate dialogue and constructive engagement based on mutual respect, for ensuring regional peace in South Asia.

The GCI is yet another landmark and timely initiative of President Xi, promoting respect for diversity, peaceful co-existence, mutual learning and inclusiveness. In a world marred with discord and divisiveness, dialogue between civilizations can be a means to peace and reconciliation.

Pakistan’s foreign policy objectives have always been those of “peace within and peace without”, as outlined by our founding father Muhammad Ali Jinnah. It was, therefore, all but natural for Pakistan to endorse these key initiatives put forth by President Xi Jinping.

In a world marred by multiple challenges like conflicts, economic recessions, food insecurity, social inequalities and climate change, the salience of Pakistan-China strategic partnership assumes great importance. It is a source of pride and comfort for our two peoples and a factor of peace and stability in the region and beyond. Ours is a relationship of the past, present and the future; and nothing can alter this reality.

As per our long-standing tradition, we support each other on our core issues. We are grateful to China for its support to Pakistan’s sovereignty, territorial integrity and economic security and its principled support on the issue of Jammu and Kashmir.

We reaffirm our commitment to One-China Policy and our support to China on its core issues including Taiwan, Hong Kong, Tibet, Xinjiang and the South China Sea. As close friends, strategic partners and iron brothers, Pakistan and China are moving forward towards a destiny of shared future. I remain confident and convinced that our friendship will further strengthen in the coming days and attain even greater heights in the years to come.

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Send your letters to: Letters to Editor, Pakistan Today, 4-Shaarey Fatima Jinnah, Lahore, Pakistan.

E-mail: letters@pakistantoday.com.pk Letters should be addressed to Pakistan Today exclusively

Concerns over persistent gas load shedding

I am writing to express my deep concern regarding the ongoing issue of gas load shedding in our community. It has come to my attention that the frequent and prolonged gas shortages have been causing significant hardships for residents and businesses alike.

Gas is an essential utility that we rely on for heating, cooking, and powering various appliances. The consistent disruption of the gas supply disrupts our daily lives, making it challenging to meet our basic needs.

Families are left without heating during the colder months, and cooking becomes a struggle, leading to additional expenses on alternative energy sources. Furthermore, this situation is detrimental to local businesses that depend on a continuous gas supply for their operations. Restaurants, bakeries, and many manufacturing units are forced to halt production or incur increased costs by switching to more expensive fuel sources, which ultimately affects the prices consumers pay for their goods and services.

The gas load-shedding issue not only inconveniences the public but also hampers economic growth and development. It discourages potential investors and businesses from establishing themselves in our area, leading to a negative impact on employment opportunities.

I urge the relevant authorities to take immediate and decisive action to address this pressing issue. It is imperative that steps be taken to ensure a stable and uninterrupted supply of gas to our community. This could involve investments in infrastructure, better management of resources, and exploring alternative energy sources to reduce dependency on gas.

Our community deserves a reliable and continuous supply of gas, and I hope that this matter receives the attention it warrants from our government and utility providers.

SANIA ASHRAF KARACHI

Importance of optics in politics

IN a country where over 9.5 crore people earn less than $3.6 per day, facing skyrocketing food inflation, it is crucial for politicians to connect with the masses. We live in times where even the diminishing lower middle class is barely surviving and unable to pay their utility bills. It does not send a reassuring message to potential voters when politicians step out of expensive SUVs, dressed in branded clothes, wearing Chanel scarves, carrying Birkin or Louis Vuitton handbags, adorned with diamond bracelets, and wearing watches costing more than the lifelong savings of those whose votes they seek. It reminds them of images of similar watches that have been flashed on TV screens, accusing their adversaries of stealing Toshakhana gifts. In the recent political history of Pakistan, Fatima Jinnah should have been a role model. Late BB dressed casually whenever she addressed public meetings. The Cinderella or Barbie Doll image does not convey the reassuring image needed for a politician seeking votes from citizens undergoing misery on a 24/7 basis. It only augments the propaganda waged by their political opponents with accusations of corruption, money laundering, etc.

In our neighbourhood, politicians in India wear Khadi and make sure they connect to the population they seek to represent. Even the Italian-born Congress party leader Sonia Khan had to publicly revoke her foreign nationality and wear dresses that her mother-in-law, Indira Gandhi, dressed in. Rahul and Priyanka follow suit.

Media reports about palatial residences spread over several acres owned by politicians do not convey a good message. It reflects a mindset of individuals totally disconnected from ground realities. Even the paid bureaucracy of this financially challenged country lives in houses that would dwarf 10 Downing Street, the official residence of the British PM. MALIK TARIQ ALI LAHORE

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Israel’s quest to crush Hamas

Tuesday, 17 October, 2023

Moral values must be upheld to recover from its colossal intelligence failure and its tardiness in responding militarily to Hamas’ massacre

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DR AloN BeN –MeiR

HE unfathomable massacre of Israeli Jews by Hamas and its insatiable thirst for Jewish blood has rightfully evoked the most virulent condemnation from many corners of the world, including many Arab states. The call for revenge and retribution by many Israelis was an instinctive human reaction that can be justified in a moment of incomparable rage and devastation. The Israeli decision to crush Hamas and decapitate its leaders must indeed be pursued with determination and vigor by the Israeli army. That said, the pursuit of destroying Hamas and preventing it from being reconstituted so that it can never threaten Israel again should under no circumstances justify any acts of revenge against innocent Palestinian men, women, and children who have nothing to do with Hamas’ evil act.

In fact, most of the Palestinians in Gaza have been victimized by Hamas itself, which has subjected them to a life of destitute and despair while they are frequently imperiled due to a lack of basic necessities like fuel, electricity, medicine, and drinking water. Meanwhile, Hamas has been concentrating on battling Israel and

Netanyahu is justifying this collective punishment by dehumanizing the Palestinians, deeming them unworthy of humane treatment. Whereas he rightfully condemned the unimaginable evil act of Hamas that killed over 1,400 innocent Israelis, he is waging a merciless campaign against innocent Palestinians who had nothing to do with HamasÊ acts of terror.

using the people of Gaza as human shields as it invested much of its financial resources in buying and manufacturing weapons, training its warriors, building tunnels, and preparing to waging yet another destructive battle against Israel. Hamas blames the plight of its people on Israel, using the 17-year-old blockade as a justification, which allows it to sow hatred and unrelenting enmity among the people against the Jewish state.

That said, Israel’s indiscriminate bombing of Gaza that has already leveled entire neighborhoods, killed, as of this writing, in excess of 2,300 Gazans, one-quarter of whom are children, and injured nearly 10,000 with little or no access to medical care, only affirms rather than refutes Hamas’ claims against Israel. None of the dead or injured were asked by Hamas’s leaders whether they should go and massacre innocent Israelis at an unprecedented scale, but Hamas knew full well the unimaginable price these ordinary Palestinians, who just want to live, would end up paying.

Hamas’ unprecedent onslaught against Israeli civilians and soldiers put a significant dent in Israel’s military invincibility that could have hardly been imagined only two weeks ago. And whereby the colossal failure of Israeli intelligence to detect what Hamas was planning may well be rectified over time, the carnage that Israel is inflicting on Gazans severely damages the high moral ground the Israeli army has proudly claimed.

As the death toll and destruction rise in Gaza by the minute, the initial overwhelming sympathy toward Israel’s tragic losses is waning even among many of its friends. Indeed, once Israel loses its moral compass in dealing with the crisis, it will no longer be seen as the victim who rose from the ashes of the Holocaust and has every right to defend itself, but the victimizer whose sur-

vival rests on the ashes of its real or perceived enemies.

Prime Minister Netanyahu, who has been busy trying to dismantle Israel’s democracy, will stop short of nothing to try to redeem himself by exploiting these tragic events, hoping to emerge as a “war hero” and save his political skin. How adversely his public call for revenge might impact Israel’s standing and its future relationship with the Palestinians is of no concern to him.

Imposing a total siege on Gaza and depriving more than two million Palestinians of receiving basic necessities and demanding that over a million Gazans evacuate their homes and go south while bombing them to smithereens is a collective punishment that defies morality (and legality) by any measure.

Netanyahu is justifying this collective punishment by dehumanizing the Palestinians, deeming them unworthy of humane treatment. Whereas he rightfully condemned the unimaginable evil act of Hamas that killed over 1,400 innocent Israelis, he is waging a merciless campaign against innocent Palestinians who had nothing to do with Hamas’ acts of terror. For Netanyahu, there is simply no moral equivalence. For him and many of his followers, the Palestinians are sub-humans and their lives are unequal to those of Israeli Jews.

The dehumanization of Palestinians will come back to haunt the Israelis simply because the Palestinians have no other place to go. And whether they are ordinary human beings with hopes and aspirations, or subhuman, Israel is stuck with them. And regardless of how the war will end, Israel will have to address the conflict with the Palestinians. The depth of the scars of the war will define the relationship for years to come.

Former Defense Minister and Chief of Staff of the Israel Defense Forces, Benny Gantz, who has just joined

How media outlets work with Israel to control Gaza narrative

Axel Springer – a giant German broadcaster that owns Politico – has explicitly told its staff that it is their duty to support Israel and those that don’t should leave

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MINTPRESS NEWS MNAR ADleY

SRAELIS were killed, while Palestinians merely “died.” That’s the leading headline on the BBC after Israel pummeled Gaza, the world’s largest open-air prison, with Western-supplied bombs after Hamas’s surprise attack and rockets that hit Israel.

Some media outlets are leading with images of injured Palestinian children while reporting on unverified crimes committed by Hamas. As if given the same script, corporate media anchors and journalists repeat the line that Israel has a right to defend itself as it bombs Gaza’s 2 million Palestinian population, targeting civilians violating international law. Meanwhile, the same anchors and journalists demand Palestinians denounce violence and Hamas and run with unverified stories handed to them by the Israeli government.

This week’s coverage by Western corporate media underlined its inability to hold the world’s 4th largest military to account for war crimes and instead give airtime to Israeli military officials to incite genocide against Palestinians, who are caged like animals in the world’s largest concentration camp.

Western corporate journalists cannot report neutrally on Israel/Palestine. And here’s just a few examples as to why: Let’s take The New York Times, for example. Not only has the newspaper constantly supported Israel’s expansionist policies, but it has also directly participated in the dispossession of Palestinians from their homes. The New York Times’ Jerusalem bureau is built on a Palestinian house that belongs to a noted Palestinian writer Ghada Karmi, a survivor of the Nakba.

The Times also often cooperates with Israeli officials. In 2014, for example, it received and obeyed an Israeli gag order to suppress the news that Israel had arrested a Palestinian journalist. From 2008 – 2012, The New York Times Israel bureau chief, Ethan Bronner, was exposed to having his 20-year-old son enlist in the Israeli army while he was actively cover-

ing the region for the newspaper. The so-called paper of record never made this public to its readers, raising serious questions of bias and a conflict of interest. The New York Times also fired Gaza photographer Hosam Salem following an intervention from Israel lobby group Honest Reporting. However, the paper had no problem employing Ethan Bronner and others like Isabel Kershner and David Brooks to write about Palestine while all three had offspring fighting in the Israeli military.

In general, the consolidation of corporate media since the 1980s has led to ownership by billionaire oligarchs or gigantic multinational corporations that have a strong stake in preserving the status quo of ensuring forever wars continue, and neither of whom want to see nationalist liberation struggles succeed.

The orders come down from up high that news organizations have to support Israel.

Axel Springer – a giant German broadcaster that owns Politico – has explicitly told its staff that it is their duty to support Israel and those that don’t should leave. A wave of firings of Arab journalists across Germany underlined this message.

The BBC, meanwhile, is the state broadcaster for the United Kingdom, a nation that helped create the state of Israel in 1948. Many of its top foreign affairs journalists go on to work for NATO or big think tanks funded by weapons manufacturers who directly profit from war. The BBC has been continuously criticized for not providing historical context to the crisis in Gaza and linking it to its own British colonial history of helping create the state of Israel through the Balfour Declaration and providing it with weapons to occupy Palestinian land ever since.

American journalists who don’t toe the line on Israel/Palestine are frequently made examples of. CNN fired anchor Marc Lamont Hill for calling for a free Palestine. Katie Halper was fired from The Hill for (accurately) calling Israel an Apartheid state. And The Guardian sacked Nathan J. Robinson after he made a joke mocking US military aid to Israel.

Other journalists in the industry see these examples, and the message is clear: stick to the

script on Israel, or lose your job. In 2013, an investigation revealed that Buzzfeed was paid huge sums to become a public relations arm for the Israeli military to ensure millennials were sympathetic to the occupation and to show the sexy side of the IDF. In 2016, an investigation that I personally conducted into VICE News showcased how the hipster rag publishes “soft propaganda” to an anti-mainstream audience while pushing a pro-US and pro-Israel government narrative.

VICE does this by regurgitating releases from the Board of Broadcasting Governors, an arm of the US government that disseminates propaganda abroad through outlets like Voice of America to push for regime change and forever wars that fuel the military-industrial complex.

However, after a lift of its ban to be used in the United States, its reach now is the average American through outlets like VICE. Of course, these are just a handful of examples of how the media, which is supposed to act as a watchdog to those in power and in the military, is acting as a lapdog for their moneyed interests and military agendas.

This doesn’t even scratch the surface of the many conflicts of interest within our media that most people don’t know about, including pundits and other journalists who appear within mainstream media outlets and newspapers as “experts” who are actually either simultaneously working with or are trained by think tanks, Public Relation outlets and Israeli lobby groups like AIPAC that take huge sums from the Israeli government and weapons manufacturers to ensure a pro-Israel, pro-war narrative is dominant.

This is why the context of Israel’s history as an occupier, an apartheid state that engages in ethnic cleansing of Palestinians, is almost always left out. Instead, the public is fed with simplified versions of the conflict, presenting it as “complicated,” thousands of years of fighting between religions, Muslim vs Jews – a religious war.

The state of the free press in the Western world is far from free, in fact, they act as stenographers for the military class to ensure profits for weapons manufacturers continue.

This is exactly why in order to break through the fog of war and this soft propaganda, we must turn to independent media and others who have preserved their principles of holding the permanent war state and elite accountable – that’s the role of journalism as defined by our first amendment.

Mnar Adley is an award-winning journalist and editor and is the founder and director of MintPress News. She is also president and director of the non-profit media organization Behind the Headlines. Adley also co-hosts the MintCast podcast and is a producer and host of the video series Behind The Headlines.

The imminent invasion of Gaza will result in the destruction of this enclave, the likes of which we have never seen before. However, as long as the invasion is not driven by revenge and retribution and instead seeks, as the war comes to an end, to create a new paradigm to bring an end to the Israeli-Palestinian conflict, then all the sacrifices made by all sides will not have been in vain. the government along with the current Defense Minister Yoav Galant, must resist Netanyahu’s call for vengeance.

Yes, they will fight with their military might to crush Hamas, but they must also fight to safeguard Israel’s democracy and Jewish values, which forbid the indiscriminate killing of innocent people.

Israel will win this war; the question is, will it win it while adhering to these moral values, or win it by leaving behind deep moral wounds that will be etched in memory and in history books as one of Israel’s darkest chapters?

They must remember that just about every Arab country will quietly (and some even overtly) cheer the demise of Hamas, but they will be loud and clear about their objection to the killing of innocent Palestinians, especially women and children, and scuttle further any prospect of normalization of relations with other Arab countries.

The imminent invasion of Gaza will result in the destruction of this enclave, the likes of which we have never seen before. However, as long as the invasion is not driven by revenge and retribution and instead seeks, as the war comes to an end, to create a new paradigm to bring an end to the Israeli-Palestinian conflict, then all the sacrifices made by all sides will not have been in vain.

This unprecedented breakdown in the Israeli-Palestinian conflict could lead to a historic breakthrough, if only the moderate Israeli, Arab, and Palestinian leaders grasp the unparalleled moment this crisis presents.

In my following article I will provide a detailed plan that will demonstrate how that might be achieved

Dr Alon Ben-Meir is a professor of international relations at the Centre for Global Affairs at NYU. He teaches courses on international negotiation and Middle Eastern studies. alon@alonben-meir.com

Palestinians are winning the online battle for Gaza, while Israel commits genocide Social media companies have been censoring and removing pro-Palestinian content

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MIDDLE EAST MONITOR Yousef Al-Helou

ROM the moment Israel woke up in shock at the unprecedented Hamas operation on 7 October, its propaganda machine has pushed fake news to justify its all-out war of vengeance against the Palestinians in the besieged Gaza Strip. From allegations such as Hamas beheaded babies to rape, burning bodies and even killing dogs, the resistance movement was demonised, and thus dehumanised. All of the claims were accompanied by tears and emotional speeches by Israelis and proIsrael allies and supporters.

Despite the lack of evidence, world leaders including US President Joe Biden repeated them and stressed Israel’s “right” to self-defence. The White House retracted Biden’s statements, but the UK’s Prime Minister Rishi Sunak and Home Secretary Suella Braverman have not apologised for pushing this propaganda.

A few international journalists also circulated the lies, naming an Israeli soldier who spread them in the first place. Their professional ethics require journalists to check the veracity of the “facts” that they use in any suspect story. This has not been done. Moreover, Israeli Prime Minister Benjamin Netanyahu shared a photo of what he claimed was the charred body of an Israeli baby killed by Hamas. However, the original image has since been claimed to have been that of a dog which was photoshopped.

With claims and counterclaims filling social media, some apologies have been received from international figures, but not from Israelis. What’s more, the social media companies have been censoring and removing proPalestinian content. Many accounts belonging to Palestinians have been restricted, while others have been taken down altogether. No such censorship by the companies has been heard of

about Israeli propaganda and hatefilled messages in Hebrew directed at the Palestinians.

Citizen journalists are enthusiastic and plentiful across occupied Palestine, especially in Gaza. The internet has allowed them to raise awareness of their plight around the world in an instant.

The Zionist massacres and colonisation didn’t start in 2008 with Operation Cast Lead, or even in 1967 with the Naksa. They began in the 1940s in the run up to the creation of the colonial state of Israel and the ethnic cleansing of Palestine. The Nakba (Catastrophe) is ongoing.

While Israeli propaganda seeks to make out that the issue at stake here is the Hamas attack last weekend, Palestinians and their supporters point out that the cause of the issue Israel’s occupation of Palestine. As the Palestinian Permanent Representative to the UN, Riyad Mansour, said last week, “Regrettably, history for some media and politicians only starts when Israelis are killed. We will never accept a rhetoric that denigrates our humanity and reneges our rights, a rhetoric that ignores the occupation of our land and oppression of our people.”

It seems that many people agree.

Hundreds of thousands of people have taken to the streets in major cities across the world to demonstrate their opposition to Israel’s bombing of Gaza.

Their demand is to end Israel’s apartheid and military occupation of Palestine.

Israel’s propagandists at home and abroad have been working hard to try to counter this. They are desperate to divert attention away from the occupation state’s war crimes and crimes against humanity. The so-called Israel “Defence” Forces have played their part by bombing the Gaza Strip’s main telecommunications company, leading to the disruption of landlines and internet services. International pressure meant that the collective punishment of cutting internet services to Gaza was not implemented.

During the devastating Israeli military offensives against Gaza in 2008/9, 2012, 2014, 2021 and 2022, Palestinian journalists and social media activists won the online battle in countering the pro-Israel mainstream media and political narrative. In doing so, they opened up events in Gaza to vast numbers of people around the world. Today they are doing the same again, even as Israel commits genocide, war crimes and crimes against humanity.

06 NEWS

GAZA AID STUCK AS EGYPT SAYS ISRAEL NOT COOPERATING

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ISMAILIA

AGENCIES

GYPT said on Monday that Israel was not cooperating with delivery of aid into Gaza and evacuations of foreign passport holders via the only entry it does not wholly control, leaving hundreds of tonnes of supplies stuck.

Cairo says the Rafah crossing, a potentially vital opening for desperatelyneeded supplies into the besieged Palestinian enclave, is not officially closed but is inoperable due to Israeli air strikes on the Gaza side.

“There is an urgent need to alleviate the suffering of Palestinian civilians in Gaza,” Egypt’s Foreign Minister Sameh Shoukry told reporters, adding that talks with Israel had not been fruitful.

“Until now the Israeli government has not taken a position on opening the Rafah crossing from the Gaza side to allow the entrance of assistance and exit of citizens of third countries.”

More than 2 million Gazans have been under siege since Israel launched an intense bombardment and blockade in retaliation for an assault by the Hamas

Fighters. Two Egyptian security sources had told Reuters a ceasefire in southern Gaza to last several hours had been agreed for Monday morning to facilitate

aid and evacuations at Rafah.

However, Israel denied that.

“There is currently no truce and humanitarian aid in Gaza in exchange for getting foreigners out,” a statement from Prime Minister Benjamin Netanyahu’s office said.

Hamas official Izzat El-Reshiq told Reuters the same.

On the ground at Rafah, one source said that there had been no bombardments on Monday and that the Egyptian side of the crossing was ready. Shoukry said Egypt aimed to allow normal flow through the crossing, including for Palestinians seeking medical treatment or normal travel. Hundreds of tonnes of aid from NGOs and several countries were waiting on trucks in the nearby Egyptian town of Al-Arish for conditions to allow entry to Gaza, according to two sources there and a witness.

Separately, Reuters video showed UN-flagged fuel trucks appearing to leave Gaza for Egypt through the Israelicontrolled Kerem Shalom crossing.

Govt orders action against those buying cotton below Rs8,500 support price g

China’s hybrid rice output sets world record at 1,251 kg per mu BEIJING

STAFF REPORT

Output of China’s hybrid rice at a demonstration base in Dechang county of Southwest China’s Sichuan Province with the technique developed by “father of hybrid rice” Yuan Longping reached a record high of 1,251 kilograms per mu on Saturday.

The rice in the demonstration field showed vigorous growth, uniform development, large and abundant grains, high grain-setting rate, good late-stage coloration, and no significant signs of pests and diseases, said Cheng Shihua, the leader of the project’s inspection expert group and the chief scientist of China’s national rice industry technology system.

“Such a high yield has been a pleasant surprise, resulting from the perfect integration of rice varieties and cultivation techniquesin the Anning Valley region,” Cheng said.

The inspection for the hybrid rice project was held on Saturday in Dechang county, Liangshan Yi Autonomous Prefecture. The average yield per mu of the three plots randomly selected in the demonstration base was 1,251.5 kilograms, setting a new world record for the single-season yield of hybrid rice.

The expert group randomly selected three rice fields for mechanical harvesting, followed by water measurement, impurity removal, and weighing after threshing. The number one field yielded 1,316.5 kilograms per mu, number two yielded 1,249.4 kilograms per mu, and number three field yielded 1,188.6 kilograms per mu, with an average yield of 1,251.5 kilograms per mu for the three plots.

The target of yielding 18 tons per hectare (1,200 kilograms per mu) of hybrid rice was proposed by Yuan back in 2018 and the Chengdu Branch of China National Hybrid Rice Engineering Research Center conducted related research in Dechang county in the same year.

The demonstration hybrid rice base covers a total area of 110 mu, and the variety planted was “grain double superior 8022.”

The rice variety was sown for dry nursery on March 20,2023, and transplanted from April 24 to May 5.

Technical measures such as early sowing and sparse seeding for nursery, fixed-row spacing transplanting, soil testing and formula fertilization, scientific water management, and integrated pest and disease control were adopted in the nursery of the demonstration field.

Chinese scientist Yuan, widely known as the “father of hybrid rice,” and his research team successfully cultivated the world’s first high-yield hybrid rice strain in 1973.

Over the past five decades, China’s self-developed hybrid rice has been promoted in an accumulative cultivated area of 9 billion mu cross the country, helping increase a total rice yield of 800 billion kilograms, according to the latest hybrid rice cultivation data was released during an international seminar held in central China’s Hunan Province on Wednesday.

So far, dozens of countries around the globe have carried out research and trial planting of hybrid rice, while the overseas annual cultivated area of hybrid rice has reached nearly 8 million hectares in total, Xinhua News Agency reported citing Bai Lianyang, an official from the Hunan Provincial Academy of Agricultural Sciences.

TCP TO INVESTIGATE MATTER AND SUBMIT REPORT PROFIT

NEWS DESK

The interim government has called for strict enforcement of cotton support prices and taken action against those exploiting the situation by purchasing cotton below the predetermined rate of Rs8,500 per 40kg.

Prime Minister Anwaarul Haq Kakar said that this year’s abundant cotton crop was a boon for the country, and it was essential for farmers to maximize their benefits. The government had clear instructions regarding the purchase price to shield the farmers from any losses.

The support price was initially fixed by former Prime Minister Shehbaz Sharif in March of this year. The Prime Minister’s Office confirmed that Mr. Kakar had

taken notice of the situation where cotton was being purchased below the support price. He directed the Trading Corporation of Pakistan (TCP) to investigate the matter and submit a report.

On Sunday, interim prime minister convened a meeting with the Chief Ministers of Punjab and Sindh, instructing them to take action against those taking advantage of cotton growers. During the meeting at the PM Office, they discussed issues related to the provinces.

Caretaker Punjab Chief Minister Mohsin Naqvi also urged cotton farmers to resist selling their crops below the intervention price.

He emphasized that cotton prices in the province had fallen well below the official support price.

Highlighting the need for immediate action, CM Naqvi urged

the federal government to instruct the TCP to commence purchasing cotton from the market to stabilize its prices. He also implored cotton growers not to sell their crop below the officially announced intervention price.

Mr. Naqvi disclosed that he and caretaker CM of Sindh, Maqbool Baqir, informed PM Kakar that cotton prices in Punjab had fallen to Rs6,500 per 40kg, significantly below the federal government’s promised rate of Rs8,500 at the start of the sowing season.

“The Prime Minister acted promptly and has requested a report from the Trading Corporation of Pakistan (TCP). We are hopeful that the TCP will initiate the purchase of cotton,” he said, assuring that cotton prices would recover, and farmers would be duly rewarded for their hard work.

Tuesday, 17 October, 2023 | KARACHI

Masses rejoice as govt slashes petrol price by Rs40/litre PROFIT

NEWS DESK

In a much-needed relief for the public grappling with soaring inflation, the interim government slashed petrol price by Rs40 per liter, bringing the new price to Rs283.38, while high-speed diesel (HSD) price reduced by Rs15 per liter, making it Rs303.18 for the next two weeks.

The Ministry of Finance issued a notification explaining that these adjustments in consumer prices are a response to fluctuations in international commodity prices and a favorable exchange rate.

These new prices will remain in effect until October 31, providing temporary relief to consumers.

In addition to the petrol and diesel cuts, the government has also lowered the price of light diesel by Rs19.59 per liter and kerosene oil by Rs22.43 per liter for the same two-week period. Following these reductions, kerosene oil will be priced at Rs214.85 per liter.

Prime Minister Anwarul Haq Kakar’s interim government has decided not to impose general sales tax (GST) on any petroleum products. However, the petroleum levy (PL) on petrol remains at Rs60 per liter. In an effort to meet fiscal targets and generate additional revenue, the PL on diesel has been increased by Rs5 to Rs55 per liter.

This move comes after a previous reduction where petrol prices were cut by Rs8 per liter and high-speed diesel by Rs11 per liter. Between August 15 and September 15, both petrol and high-speed diesel prices had surged to historic highs, reaching Rs331333 per liter at retail outlets.

Earlier in the week, there were expectations that HSD and petrol prices would drop below Rs300 per liter due to declining global oil prices and the strengthening of the rupee. The interbank market saw the dollar depreciate by another 93 paise, closing at Rs278.58, despite remittances figures falling short of expectations.

It’s worth noting that the interim government might revisit these changes, especially regarding high-speed diesel, which currently carries a petroleum development levy of Rs50 per liter compared to Rs60 on petrol. The government aims to generate approximately Rs869 billion in petroleum levy revenue during the current fiscal year, aligning with commitments to the International Monetary Fund (IMF).

Petrol and diesel prices have consistently remained above Rs300 per liter since September 1, contributing to high consumer prices and driving inflation to 31.4 percent in September. This price reduction could help alleviate the ongoing inflationary pressures.

What is Hezbollah, the Lebanese ally of Hamas in its war with Israel GAZA

AGENCIES

The deadly escalation between Israel and Lebanon’s Hezbollah across the border has been going on for days, threatening to escalate the conflict between Israel and the Palestinian organisation Hamas.

Backed by Iran, Hezbollah has said it is ready to help when the time comes in the war between Israel and Hamas, which is also backed by Tehran. Sources said last week Hezbollah’s attacks so far had been designed to be contained and to avoid another major war. Israel’s defence minister said on October 15 that Israel had no interest in waging war on its northern front and that if Hezbollah restrained itself then Israel would also keep the situation along the border as it is.

Iran’s Revolutionary Guards founded Hezbollah in 1982, in the middle of Lebanon’s 1975-90 civil war. It was part of Iran’s effort to export its 1979 Islamic Revolution around the region and fight Israeli forces after their 1982 invasion of Lebanon.

The group has risen from a shadowy faction to a heavily armed force with major sway over the Lebanese state. The United States, some Western governments and others deem it a terrorist organisation.

While other groups disarmed after Lebanon’s civil war, Hezbollah kept its weapons to fight Israeli forces that were occupying the south of the country. Years of guerrilla warfare led Israel to withdraw in 2000. Hezbollah demonstrated its military advances in 2006 during a five-week war with Israel, which erupted after it crossed into Israel, kidnapping two soldiers and killing others.

The group fired thousands of rockets into Israel during the conflict, in which 1,200 people were killed in Lebanon,

mostly civilians, and 158 Israelis were killed, most of them soldiers.

Hezbollah boasts weapons including precision rockets and drones, and says it can hit all parts of Israel. In 2021, Hezbollah leader Sayyed Hassan Nasrallah said the group had 100,000 fighters.

Iran gives Hezbollah weapons and money. The United States estimates Iran has allocated it hundreds of millions of dollars annually in recent years.

Hezbollah has deep ties to Hamas, which controls Gaza, and is another Palestinian faction backed by Iran.

Hezbollah said it was in “direct contact with the leadership of the Palestinian resistance” on October 7, the day Hamas carried out an unprecedented assault from Gaza into Israel, killing 1,400 people. In Israel’s intensive air strikes on Gaza in response, more than 2,750 people have been killed.

Since October 7, Hezbollah has exchanged cross-border fire with Israel numerous times. Hamas, which has a presence in Lebanon, have mounted at-

tacks on Israel from Lebanon for the first time, including an October 10 cross-border infiltration into Israel by Islamic Jihad.

Tzachi Hanegbi, the national security adviser to Israeli Prime Minister Benjamin Netanyahu, said on October 14 that the hostilities appeared to be restrained. Hanegbi warned Hezbollah not to take action that could lead to Lebanon’s “destruction”.

Hezbollah has been a source of inspiration and support for other Iranianbacked groups across the Middle East. It has trained armed groups in Iraq and taken part in fighting there.

Saudi Arabia says Hezbollah has also fought in support of the Iran-allied Houthis in Yemen. Hezbollah denies this.

Hezbollah’s influence is underpinned by its sophisticated arsenal and the support of many Lebanese who say the group defends Lebanon from Israel.

Lebanese parties opposed to Hezbollah say the group has undermined the state and accuse it of unilaterally dragging Lebanon into armed conflicts.

Hezbollah has ministers in government and lawmakers in parliament.

It entered Lebanese politics more prominently in 2005 after Syria withdrew forces from Lebanon following the killing of former prime minister Rafik alHariri, who symbolised Saudi influence in the country.

A UN-backed court convicted three Hezbollah members in absentia over the assassination. Hezbollah denies any role, describing the court as a tool of its enemies.

In 2008, a power struggle between Hezbollah and its Lebanese political adversaries, who had the backing of the West and Saudi Arabia, spiralled into a brief conflict. Hezbollah fighters took over parts of Beirut after the government vowed to take action against the group’s military communications network.

In 2016, Hezbollah-allied Christian politician Michel Aoun became president — in Lebanon’s sectarian political system, the presidency is held by a Maronite Christian.

Two years later, Hezbollah and its allies won a parliamentary majority. This majority was lost in 2022, but the group continued to exercise major political sway.

The group campaigned against a judge investigating the 2020 Beirut port explosion, which devastated swathes of the capital after he sought to question Hezbollah’s allies. The standoff prompted deadly clashes in Beirut in 2021.

Lebanese security officials and Western intelligence have said groups that were linked to Hezbollah carried out suicide attacks on Western embassies and targets and kidnapped Westerners in the 1980s.

The United States holds Hezbollah responsible for a suicide bombing that destroyed US Marine headquarters in Beirut in 1983, killing 241 servicemen, and a suicide attack the same year on the US embassy.

China appreciates Russia’s support of BRI as FMs meet in Beijing BEIJING

STAFF CORRESPONDENT

China appreciates Russia’s support of the Belt and Road Initiative (BRI), said Chinese Foreign Minister Wang Yi during a meeting with his Russian counterpart Sergei Lavrov in Beijing on Monday, one day before the third Belt and Road Forum for International Cooperation kicks off.

Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said the Chinese side appreciates Russian President Vladimir Putin’s speaking highly and backing of the BRI. During an exclusive interview with CMG’s program Leaders Talk, Putin said the

BRI is fully consistent with Russia’s vision of developing the Eurasian Economic Union, and all participating BRI countries will achieve mutual benefit. Lavrov said at Monday’s meeting that the BRI has become an important platform for cooperation, with different parties actively participating. The BRI is conducive to mutually beneficial cooperation in Eurasia, he said.

The two sides conducted strategic coordination concerning the efforts to strengthen cooperation within the United Nations, the Shanghai Cooperation Organization, BRICS and other multilateral frameworks.

The two sides exchanged views on the tensions between Palestine and Israel. Wang said China condemns all forms of actions

that harm civilians and opposes any act that violates international law.

The UN Security Council needs to take measures and major countries should play active roles, Wang said. The most pressing need at the moment is to cease fire and stop war, Wang said, stressing the importance of pushing the two sides back to negotiation and setting up emergency humanitarian channels to prevent a larger-scale humanitarian crisis.

The fundamental approach is to activate the two-state solution, strive for an even broader consensus and promote the establishment of the timetable and road map for restoring the legitimate rights of the Palestinian people, he added.

Tuesday, 17 October, 2023 | KARACHI

CORPORATE CORNER Karachi's iconic Adab Festival geares up for 5th Edition

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KARACHI: Adab Festival, one of Pakistan's most prestigious celebrations of literature and art, announced here earlier today, the date and speakers for its fifth edition, scheduled to take place on November 25 and 26 at Habitt City, also the venue of its press conference.

The conference was attended by a large gathering of print, social and electronic media.

Set to captivate audiences once again with a vibrant array of intellectual and artistic offerings at the festival, Ameena Saiyid, founder and director of Adab Festival said “We organise Adab Festival to highlight the importance of culture and literature in promoting debate and dialogue in order to bring about understanding. Hence, it gives me the greatest pleasure to unveil our remarkable lineup of speakers. In fact, Adab Festival has a remarkable history of success over the years. PR

FrieslandCampina Engro Pakistan Limited announces Q3, 2023 results

FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for Q3, 2023. The company delivered strong topline growth of 40% despite the challenging operating environment and economic slowdown. The Company generated revenue of PKR 73.8 billion for the nine months ended, compared to PKR 52.8 billion in the same period last year, fueled by both volume and value growth.The Company witnessed gross profit growth of 23 %, while the gross margin declined by 200 bps due to inflationary pressure on commodities and energy prices. In Q3’23, the gross margin declined by 458 bps compared to the same period last year, primarily attributable to one-offs in the preceding year, in addition to the aforementioned factors. The operating margin only declined by 13 bps over last year due to initiatives such as cost rationalization and driving efficiencies across the value chain. PR

Indus Motor wins MAP Corporate Excellence Award 2023

KARACHI: Indus Motor Company (IMC) has been awarded the Best Corporate Excellence Award in Assembler Sector category by Management Association of Pakistan (MAP).The company’s CFO, Mr. Mohammad Ibadullah received the award from Mr. Younus Dagha, Sindh Minister for Revenue & Industry.“Excellence is more than a set of year-end results, it’s a journey of prevailing attitude, and for us, the biggest contributor in this crowning accomplishment has been the ‘Toyota Way’,” said Ali Asghar Jamali, CEO, IMC. “This recognition signifies IMC’s will, commitment, and dedication to consistently deliver on the high expectations of all its stakeholders,” he concluded.IMC has been a recipient of Best in Sectoral Corporate Excellence Award, for the 8th time since 2010, and also won the coveted Overall Industrial Corporate Excellence Award, four times. PR

Daraz and Meezan Bank Announce Strategic Partnership to Expand Ecommerce Digital Payments

KARACHI: Daraz, Pakistan's leading e-commerce platform, has entered into a strategic long-term partnership with Meezan Bank, a pioneer in Islamic banking and a powerhouse in the banking industry.

This collaboration is designed to promote e– commerce and digital payments among Meezan Bank and Daraz customers. PR

Lucky Cement Limited Awarded for Best Corporate Report – 2022

KARACHI:Lucky Cement Limited has won the Best Corporate Report Award in the Cement Sector Category at the “Best Corporate & Sustainability Report Awards Ceremony – 2022”. The recognition was jointly announced by the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP).At this occasion, Mr. Atif Kaludi, Chief Financial Officer of Lucky Cement Limited said, “At Lucky Cement Limited. PR

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K-ElEctric sEEKs additional 300 MW froM national grid, rs3.02 tariff hiKE NEWS

ABILITY OF KE TO RECEIVE ADDITIONAL 200-300 MW HINGES ON VARIOUS FACTORS PROFIT

MONITORING DESK

-Electric (KE) has formally requested an additional capacity of up to 300 MW from the national grid, which would increase their total supply to 1400 MW. KE believes that this strategic move will lead to substantial net annual savings of approximately Rs 50 billion, a benefit that is expected to be passed on to consumers in the form of reduced Fuel Charges Adjustments (FCAs) and potentially lessen the Tariff Differential Subsidy (TDS) requirement for the Government of Pakistan (GoP).

As per a report by BR, the request for additional capacity was sent by KE’s CEO, Syed Moonis Abdullah Alvi, to the Minister for Power and Petroleum, Muhammad Ali. This development

comes as a result of ongoing collaboration and discussions between KE and the relevant authorities regarding Pakistan’s energy sector.

Under the existing power supply arrangement, KE has been receiving between 1000 and 1,100 MW from the national grid. This allocation was based on a decision made by the Cabinet Committee on Energy (CCoE) on August 27, 2020.

However, KE’s CEO has highlighted key infrastructure improvements that have expanded the company’s capacity to draw power from the national grid. These enhancements include the completion of the cross-trip scheme at the NKI grid and the rehabilitation of the KDA-Jamshoro transmission line in 2021. As a result, the equipment and interconnection capacity increased to 1,300-1,400 MW, with 850 MW coming from NKI and 550 MW from Jhimpir-2,

inclusive of N-1 contingency. This expansion was made possible through the upgrading of KE’s tie-in line of KDI Jamshoro by the National Transmission and Dispatch Company (NTDC), reconnecting KDA to Jhampir-2 to Jamshoro.

The ability of KE to receive an additional 200-300 MW from the national grid hinges on various factors, including the adequate voltage profile in the 220kV network of Jhimpir/Jamshoro and the availability of dispatch from wind power plants. This additional supply is expected to reduce power costs within the KE system and help absorb the capacity costs in the national grid, particularly considering the recent lower power demand experienced on the national grid.

In a related development, K-Electric has requested a tariff adjustment of Rs 3.02 per unit for the April-June quarter of this year. The National Electric Power Regula-

tory Authority (Nepra) has accepted the petition for a public hearing scheduled for October 19 to thoroughly evaluate the justification for KE’s request. Nepra will also examine whether the company’s claim for a write-off of Rs 13.2 billion against unrecovered bills should be approved.

KE’s demand for the tariff adjustment is based on a revision in price settings, set at Rs 2.57 per unit during April-June. Additionally, an annual inflationary impact of 87 paise per unit for operations and maintenance has been factored in, on top of previously covered expenses in the base tariff, along with other adjustments.

The outcome of Nepra’s assessment will be forwarded to the federal government, which will make decisions regarding when and how the tariff adjustment will be implemented for consumers, or whether it could be partially set aside against the budgeted subsidy.

Mayor Karachi inaugurates Divisional Food Testing Lab at KU KARACHI PR

The Mayor of Karachi Barrister Murtaza Wahab Siddiqui inaugurated the Divisional Food Testing Lab established at the Department of Food Science and Technology of the University of Karachi on Monday.

The KU DFST and the Sindh Food Authority have jointly established the DFTL to improve food quality in the province. The Mayor Karachi Murtaza Wahab and the KU Vice Chancellor Professor Dr Khalid Mahmood Iraqi also inaugurated the FST Alumni Conference Hall at the KU DFST. On this occasion, the KU DFST organized a seminar on ‘water is

Chief of the Naval Staff Admiral Naveed Ashraf exchanging views with Ambassador of Saudi Arabia to Pakistan H.E Mr Nawaf Bin Saeed Ahmed Al Malkiy at Naval Headquarters Islamabad. PR

life, water is food, leave no one behind’, of World Food Day 2023.

Addressing the ceremony, Mayor Karachi Barrister Murtaza Wahab said that food security is the biggest problem in the present era and added that many countries are still facing this problem.

He shared that Pakistan is an agricultural country with about 65 percent of its economy based on sustainable agriculture.

He stressed that we need to promote good quality seeds and have to use technologies through which water can be saved.

PSX Holds Gong ceremony to announce building of InHouse Manufacturing facility for Panadol Portfolio

by Haleon Pakistan Ltd

Fatima Fertilizer’s Salam Kissan initiative acclaimed at Asian Experience Awards 2023

LAHORE: ‘Salam Kissan’ is a flagship initiative of Fatima Fertilizer that aims to highlight the indispensable role of Pakistani farmers in protecting the economy and our national food security. The most commendable achievement under this initiative was the proposal to celebrate December 18th as the official “Kissan Day” in Pakistan to pay tribute to the courage and resilience of Pakistani farmers. This proposal was not only applauded but also recognized by the Government of Pakistan and has been celebrated every year since 2019. In recognition of the untiring efforts by the ‘Salam Kissan’ initiative to uplift the social character and motivation of Pakistani farmers, it was recently bestowed with the prestigious “Digital Experience of the Year for Pakistan” award at the 2023 Asian Experience Awards during a special ceremony held in Singapore. PR

FAO Pakistan and PepsiCo Advocate Sustainable Agricultural Water Use and Empowering Farmers on World Food Day

PESHAWAR: As part of World Food Day 2023 celebrations Food and Agriculture Organization (FAO) of the United Nations (FAO) KP Office in collaboration with PepsiCo Pakistan, a leading global food and beverage corporation, hosted a cross-sectoral panel discussion at University of Agriculture in Peshawar. The panel discussion focused on the Living Indus Initiative, highlighting the theme, "Water is life, Water is food. Leave no one behind," aiming to raise awareness about food security, sustainable agriculture, and the fight against global hunger and poverty.

Senior representatives from World Food Programme, UN Women, PepsiCo, and the Government of Khyber Pakhtunkhwa, as well as academics, were in attendance.This theme harmoniously aligns with the goals of the Living Indus Initiative, a collaborative venture between the Government of Pakistan and UN agencies, dedicated to repairing and restoring the ecological health of the Indus River Basin, especially in the face of pressing climate challenge. PR

TPL and WWF-Pakistan Join Forces to Restore Karachi's Coastal Ecosystem

KARACHI: It was a day of unity, passion, and purpose as TPL, a leading technology-driven conglomerate, teamed up with WWF-Pakistan to make a lasting impact on Karachi's coastal ecosystem. The event, which took place on Thursday, 5th October 2023, at the WWF Wetland Centre in Karachi, demonstrated TPL’s commitment to environmental conservation and community engagement. The Mangrove Plantation activity brought together employees – to participate in a series of meaningful activities aimed at raising awareness and actively contributing to the preservation of our coastal treasures.

The day began with an informative session led by WWF-Pakistan, where participants gained insights into the critical role played by mangroves in protecting coastal regions and the ecosystem. Armed with knowledge, participants then took to planting mangrove saplings, symbolizing their dedication to a greener future. PR

IIUI, Bank Alfalah ink MoU

Another 70 gas connections disconnected in Punjab, KP and Islamabad

During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 70 connections while imposing fine of Rs.2.78 million and 123 under billing cases processed In Lahore, the regional team disconnected 07 connections on illegal use of gas, another 03 connections on the use of compressor, In Bahawalpur, the regional team disconnected 01 connection on illegal use of gas, another 03 connections on the use of compressor and 27 under billing cases processed. Rs. 6,000 Booked against under billing cases. The company disconnected 18 connections on illegal use of gas and 07 under billing cases have been processed in Multan and amount of Rs 0.064 Million have been booked against gas theft and Under billing cases. PR

KARACHI: Pakistan Stock Exchange (PSX) held a gong ceremony to the announce the building of an inhouse manufacuring facility for Panadol portfolio by Haleon Pakistan Limited, a world-leading Consumer Healthcare Company and a listed company on Pakistan Stock Exchange. The gong ceremony was attended by the British High Commissioner to Pakistan, Jane Marriott, as the Chief Guest at the occasion.The team from the British High Commission and Haleon Pakistan Limited were received at the Stock Exchange by the MD & CEO PSX, Mr. Farrukh H. Khan and Board member(s) PSX along with the senior management of the Exchange. The gong was struck by the Chief Guest, H.E. Jane Marriott, and the CEO of Haleon Pakistan Limited, Mr. Farhan M. Haroon, in the presence of MD & CEO PSX, Mr. Farrukh Khan. PR

HBL joins UN Principles for Responsible Banking and UN-Convened Net-Zero Banking Alliance

KARACHI: HBL has become an official signatory of the UN Principles for Responsible Banking – a single framework for a sustainable banking industry developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI).

As part of its commitments as a Principles for Responsible Banking (PRB) signatory, HBL has also chosen to join the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened alliance of banks worldwide, committed to aligning their lending and investment portfolios with net-zero emissions by 2050 and setting interim targets for 2030 or sooner, in line with the most ambitious temperature goals set by the Paris Climate Agreement. PR

FFC awarded Certificate of Excellence by MAP in Fertilizer Sector International Islamic University, Islamabad Pakistan and Bank Alfalah Limited have joined hands by signing Memorandum of Understanding (MoU) for free of cost digital banking.

The MoU is part of the efforts of IIUI President's vision of Students Facilitation.

As per MoU, the Bank Alfalah will provide facility of mobile banking through its app for deposit of dues at IIUI. The students will also be given a facility of Afalah wallet that is an E wallet service to make banking and transactions easier. The bank will also install special cash deposit machines to facilitate the IIUI community for payment of dues.

Dr. Hathal Homoud Alotaibi, President IIUI and Adnan Nasir, Head Digital Payments Bank Alfalah signed MoU on behalf of their respective institutions.

H.E. Dr. Hathal said that IIUI is committed to promote education and adopt the latest techniques.

He opined that the student's centric approach is the cornerstone of the university's leadership's vision. PR

Fauji Fertilizer Company Limited (FFC) was conferred with “Certificate of Excellence” in Fertilizer Sector at 38th Corporate Excellence Awards Ceremony organized at Karachi by the Management Association of Pakistan (MAP).FFC was represented by Brig Irfan Khan, Company Secretary and Syed Imran Rizvi, Manager Corporate Affairs. The Company Secretary received the award on behalf of FFC. This award is an acknowledgement of Best Management Practices, distinguished Corporate Governance, Industrial Laurels and Shareholders’ Value that FFC has been maintaining since its inception. PR

Tuesday, 17 October, 2023

PaKIsTan coMMITTed To cPec as ‘corrIdor oF socIo-econoMIc growTH’: PM NEWS

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ISLAMABAD

MIAN ABRAR

ARETAKER Prime Minister Anwaar-ul-Haq Kakar has expressed the country’s commitment to jointly building the China-Pakistan Economic Corridor (CPEC), saying the project has transformed the socio-economic landscape of Pakistan.

“The CPEC has transformed the socio-economic landscape of Pakistan, upgrading modern infrastructure, enhancing regional connectivity, ensuring energy security, and creating jobs,” the prime minister wrote in his article published in Global Times China.

PM Kakar, who is set to participate in the Third Belt and Road Forum for International Cooperation in China on October 17-18 which marks the completion of a decade of the Belt and Road Initiative (BRI), said Pakistan endorses China’s vision of CPEC as a corridor of growth.

As the flagship project of the BRI, he said, CPEC marks a milestone in PakistanChina relations by placing “economic cooperation and connectivity at the very center of the bilateral agenda”, making the two countries more interconnected.

“We fully endorse China’s proposal of developing the CPEC as a corridor of growth, livelihood, innovation, greenness, and openness – representing our two countries’ preference for a humancentric approach, inclusivity, and green development,” he said.

The prime minister said Pakistan and China as close friends, strategic partners,

and iron brothers, are moving forward toward a destiny of shared future.

“The tale of China-Pakistan relations is not an ordinary one. It is an account of brotherhood, friendship, and trust, the foundations of which were laid more than 70 years ago,” he said.

Kakar said the timeless PakistanChina partnership and deep-rooted friendship serve the interests of both countries and remain the cornerstone of Pakistan’s foreign policy.

He said Pakistan and its people, with absolute confidence, value the relationship greatly, and proudly call China as best friend. It is heart-warming that in China, the term “Ba Tie” meaning Iron Brother is reserved only for Pakistan, he added.

He termed the historical evolution of the Pakistan-China relationship amid the evolving regional and global developments as an “exemplary model of interstate relationship”.

“The unique relationship of more than seven decades, underpinned by the rationale of strong political support, mutual trust, and all-round practical cooperation, has matured into a strong strategic partnership,” he said.

The prime minister paid tribute to the vision and statesmanship of President Xi Jinping who propounded the vision of building a global community of shared future, a new idea for global governance and cooperation, and a fresh approach toward international exchanges, thus drawing up a new blueprint for a better interconnected world.

He quoted Zhou Enlai, China’s first premier, who once said that “the friendly

Farrukh Habib blames Imran Khan for May 9 incidents, parts ways with PTI ISLAMABAD

STAFF CORRESPONDENT

Calling deposed prime minister Imran Khan an “irresponsible leader”, Pakistan Tehreek-i-Insaf (PTI) leader Farrukh Habib on Monday announced parting ways with the former ruling party and joining the Jahangir Tareen-led Istehkam-e-Pakistan Party (IPP).

Addressing a press conference along with IPP leaders in Islamabad, Farrukh termed Imran Khan responsible for the May 9 riots, saying the latter kept “promoting violence and brainwashing youth”.

“Imran Khan did not act responsibly. Youth were brainwashed that institutions were against us. You [Imran] not only brainwashed them but also made them go against your own institutions, your own army,” he added. Habib resurfaced today along with IPP leaders following his arrest in Gwadar along with his four brothers last month.

PTI Secretary General Omar Ayub Khan had written on microblogging platform, X: “Farrukh Habib, former minister of state and President PTI West Punjab has been abducted by unidentified people a short while ago.

The rising trend of abductions of PTI leaders is condemned in the strongest words possible. Leaders are abducted and then made to record statements of leaving PTI and Imran Khan.”

interactions between the peoples of China and Pakistan date back to the dawn of history” and mentioned in this regard the historic links such as the Silk Road and Gandhara civilization.

The prime minister said Pakistan was a pioneering member of the Group of Friends of the Global Development Initiative (GDI) proposed by President Xi Jinping and played an active role in giving it a more concrete shape.

“As the first one to ink a Memorandum of Understanding on the GDI, Pakistan stands ready to benefit from this cooperation in areas of education, healthcare, climate change, and poverty reduction,” he said.

He said Pakistan’s foreign policy objectives were based on “peace within and peace without,” as outlined by the founding father Muhammad Ali Jinnah.

CARETAKER PM ARRIVES IN BEIJING TO RED CARPET WELCOME: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday arrived here to participate in the 3rd Belt and Road Forum (BRF) for International Cooperation.

At the airport, he was warmly received by Chinese Minister of Science & Technology Wang Zhigang, Chinese Ambassador to Pakistan Jiang Zaidong and Ambassador of Pakistan to China Moin-ul-Haq, the PM Office Media Wing said in a press release.

The prime minister is undertaking the visit at the invitation of Chinese President Xi Jinping. He is accompanied by a high-level delegation including members of the cabinet and senior govern-

ment officials. He would will attend the opening ceremony of the BRF and address the high-level forum titled ‘Connectivity in an Open Global Economy’ to be held on October 18.

The caretaker prime minister will hold bilateral meetings with President Xi Jinping, Premier Li Qiang and Li Xi, member of the Standing Committee of Politburo of CPC Central Committee.

The leaders will discuss all facets of bilateral relations, with particular focus on strengthening trade and economic cooperation between the two countries.

They will exchange views on major regional and global developments.

The prime minister will also meet other leaders of the countries participating in the BRF. He will also meet with leading Chinese entrepreneurs and preside over an interactive roundtable on CPEC to explore new avenues for strengthening trade and investment ties between Pakistan and China.

To further strengthen regional connectivity, trade, investment and peopleto-people contacts between the neighbouring regions of Pakistan and China, Prime Minister Kakar will pay a two-day visit to Urumqi, Xinjiang Uyghur Autonomous Region of China.

In Urumqi, he will meet the local leadership and business persons, and deliver a speech at the Xinjiang University.

“The visit of the prime minister comes in the backdrop of ongoing celebrations marking the 10 years of ChinaPakistan Economic Corridor (CPEC), the flagship project of China’s Belt and Road Initiative (BRI),” the news release said.

Govt deprives masses from full relief in petroleum prices by increasing taxes, margin on petrol, diesel PROFIT

AHMAD AHMADANI

The caretaker government while deciding the prices of petroleum products for second half of October 2023 has deprived the already burdened masses from full relief in the prices of petroleum products by increasing taxes and margin on petrol, diesel.

At midnight on Sunday, October 15, 2023, the government announced significant reduction of Rs 40 per litre in the price of petrol and Rs15 per litre in that of high-speed diesel (HSD) for the last fifteen days of on-going month of October 2023. And, the new price for petrol and diesel has been fixed at Rs283.38/litre and Rs303.18 per litre, respectively, which has gone into effect across the country from October 16, 2023.

According to finance division, “Owing to decreasing trend of petroleum prices in the international market and due to appreciation of Pak Rupee against the US dollar, the government has decided to revise the existing consumers price of petroleum products”.

Despite the announcement of massive cut in petrol & diesel prices, the government has, however, deprived the inflation-hit masses of full-relief in the per litre prices of petrol and diesel (HSD) by increasing petroleum levy on HSD, and hiking the margin of Oil Marketing Companies’ and dealers on petrol.

According to documents available with this scribe, the petroleum levy on high speed diesel

has been increased by Rs.5 per liter from Rs.50 to Rs.55 per liter while the rate of levy on petrol has remained at Rs 60 per litre.

The OMC margin on petrol was increased by Rs 0.47/litre, after which the margin on petrol was fixed at Rs 7.41 per litre. Similarly, the dealers margin on petrol has also been increased by Rs 0.41 per litre and after this increase, the dealer margin has been fixed at Rs 8.23 per litre.

It is relevant to note that the OMC and dealers’ margin was increased on September 16 and October 1 as well.

In the last review on September 30, the caretaker government had announced a reduction of Rs8 and Rs11 in petrol and diesel prices, taking the prices to 323.38 and 318.18 per litre, respectively, in line with rupee’s continues appreciation against the dollar as well as variations in the international prices of petroleum products.

It is pertinent to mention that the masses have been suffering greatly as a result of the inflationary trend, since they have long had to deal with skyrocketing prices for necessities and high utility costs. Effective budget management has become exceedingly difficult for people as a result of this constant inflationary pressure. A significant drop in the price of gasoline and diesel is expected to provide the people with much-needed respite, so there is some cause for optimism. By reducing the cost of production and transportation, this drop in fuel prices is anticipated to boost the economy and relieve financial pressure on the average person. Households trying to make ends meet with rising costs provide a ray of hope with the promise of lower costs in these essential areas.

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:25

1:30

4:15

PM Kakar calls for passing on benefit of petrol prices cut to masses 6:05

5:32

7:15

ISLAMABAD

STAFF REPORT

Prime Minister Anwaarul Haq Kakar has directed the concerned authorities at federal and provincial level to take measures for reducing the prices of essential commodities and serves. The premier in a social media post wrote, “Consequent to substantial reduction in fuel prices, I have directed the concerned authorities at Federal and Provincial level to activate a strict price control mechanism”.

He urged all chief ministers to ensure that prices of essential commodities and services are reduced correspondingly. “All efforts should be directed towards transferring the benefit of reduction in petroleum prices to the people of Pakistan. Strict implementation be ensured,” he added.

In a surprise move, the caretaker federal government slashed the petrol price by Rs40 per litre earlier in the day. The new price of petrol has been fixed at Rs283.38 per litre for running fortnight of October.

Similarly, high-speed diesel (HSD) price has been reduced to Rs15 per litre for the upcoming two weeks. The new price is Rs291.18 per litre.

Previously, on Oct 1, the petrol price in Pakistan had been lowered by Rs8 per litre following a two-month increase, settling at Rs323.38 per litre.

FM Jilani discusses gaza crisis with Iranian, egyptian counterparts on phone call ISLAMABAD

STAFF REPORT

Caretaker Foreign Minister Jalil Abbas Jilani on Monday telephonically spoke to his counterparts from Iran and Egypt and discussed the crisis in Gaza including the killing of civilians.

The foreign minister, in the conversation with Iranian counterpart Hossien Amir Abdollahian also discussed the large-scale displacement of the Palestinians from their homes.

Both sides agreed that urgent steps were needed to prevent conflict from escalating and the provision of humanitarian assistance. As part of efforts for a coordinated response to ongoing conflict in Gaza, Foreign Minister Jilani also spoke to the Egyptian Foreign Minister Sameh Shukri.

In the conversation, the stressed preventing conflict from escalating, protecting civilians from collective punishment, starvation and displacement. The foreign minister also assured of Pakistan’s humanitarian assistance.

naB to form white collar crime task force ISLAMABAD

STAFF REPORT

The National Accountability Bureau (NAB) has decided to form a task force for the criminals involved in the white-collar crimes.

Sources said that as many as four military intelligence officers, eight from the Federal Board of Revenue, two officials of the Security and Exchange Commission of Pakistan and officials State Bank of Pakistan would be part of the force. Besides, two officials each from Federal Investigation Agency, Intelligence Bureau and Police Service will also be included in the force and the chairman NAB approved formation of the body. Officials of the selected departments are already serving in NAB on the deputation.

Oman Army commander lauds Pakistan’s efforts for regional peace RAWALPINDI

STAFF REPORT

Major General Matar bin Salim bin Rashid Al-Balushi, Commander Royal Army of Oman, called on General Asim Munir, Chief of Army Staff (COAS), at General Headquarters (GHQ), on Monday, the Inter Services Public Relations said in a statement.

During the meeting matters of mu-

tual interest were discussed. The visiting dignitary lauded Pakistan Army’s achievements in fight against terrorism and continued efforts for regional peace and stability.

Earlier on arrival at GHQ, Commander Royal Army of Oman laid floral wreath at Yadgar-e-Shuhada. A smartly turned out contingent of Pakistan Army presented the guard of honour to the visiting dignitary.

SC annuls LHC’s decision on fuel price adjustment ISLAMABAD

STAFF REPORT

The Supreme Court of Pakistan (SC) on Monday overturned a judgment made by the Lahore High Court (LHC) that had previously declared the collection of fuel price adjustment (FPA) applied to monthly electricity bills as illegal.

The apex court, led by Chief Justice Qazi Faez Isa, proclaimed the LHC’s ruling as “impractical both constitutionally and legally.”

It further noted that the appellate tribunal of the National Electric Power Regulatory Authority (Nepra) is the appropriate authority to handle this intricate matter, not LHC. The three-member bench directed petitioners to file an appeal before the Nepra Appellate Tribunal within the next 10 days. The tribunal, in turn, was directed to expedite the hearing and reach a decision within the statutory time frame.

This decision came as a response to an appeal filed by power distribution companies (Discos) which contested the LHC’s ruling.

During the proceeding, advocate Salman Akram Raja, representing the Discos, argued that the formation of Nepra itself was unconstitutional when the fuel price adjustment was initiated in May 2022.

CJP Isa challenged this stance and emphasised that if there were

constitutional concerns about Nepra’s formation, they should have been addressed separately.

Justice Athar Minallah further clarified that neither the SC nor any other court had jurisdiction over the technical matters of Nepra. The LHC’s decision, in this context, was perceived as overstepping its boundaries.

The attorney general affirmed that both Nepra and Discos are open to resolving the matter

through the appropriate tribunal.

The apex court also directed that the outstanding dues from companies and industries following LHC’s initial decision will now be subject to the Nepra Appellate Tribunal’s verdict.

LHC’S VERDICT: In February, LHC had declared the fuel price adjustment (FPA) in electricity bills as illegal, observing the demand for FPA, quarter tariff adjustment and change of status of tariff from industrial to commercial by Nepra not constituted fully under section 3 of the NEPRA Act, 1997.

LHC’s Justice Ali Baqar Najafi had disposed of more than 3,000 petitions challenging the authority’s mandate and had directed the respondent Nepra not to charge any exorbitant tariff beyond the paying capacity of the domestic consumers.

He had also directed Nepra to provide maximum subsidy to domestic consumers consuming up to 500 units per month.

Published by Asad Nizami at Plot No 66-C, 1st Floor, 21st Commercial Street, Phase-II (Extension), DHA Karachi and printed at Ibn-e-Hassan Printing Press, Hockey Stadium, Karachi, for PT Print (Pvt) Limited. Ph: 021-35381208-9. Email: newsroom@pakistantoday.com.pk