Epaper_23-10-18 KHI

PM PRedIcts bRIght futuRe of sIno-PAk cooPeRAtIon undeR cPec In partnership with

Wednesday, 18 October, 2023 I 1 Rabi us Sani, 1445

SAYS UNDER UNIQUE ALL-ROUND PARTNERSHIP, PAKISTAN’S SOCIO ECONOMIC DEVELOPMENT UNDERWENT TREMENDOUS CHANGES

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BEIJING

SET TO TRAVEL TO XINJIANG TO STRENGTHEN TRADE, INVESTMENT, AND PEOPLE-TO-PEOPLE RELATIONS

Kakar, Putin discuss ways to enhance bilateral, regional cooperation

STAFF REPORT

AKISTANI Caretaker Prime Minister Anwaarul Haq Kakar on Tuesday stated that based on the principles of mutual trust and sharing, a bright future of PakistanChina cooperation should be entirely predictable.”

Pakistani Caretaker Prime Minister Anwaarul Haq Kakar while attending the Pakistan-China Business Forum, according to China Economic Net (CEN), noted that China and Pakistan are holding a series of celebrations for the 10th anniversary of the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC).

And he was honored to participate in the third Belt and Road Summit Forum at such a special moment.

“Due to this unique all-round partnership, Pakistan’s socio-economic development has undergone tremendous changes in the past decade. Our infrastructure and technological levels have ushered in all-round upgrades, and the progress in the employment field has also been obvious to all,” Kakar emphasized.

“For now, Pakistani society generally believes that cooperation has brought development and progress to Pakistan, reducing doubts caused by backwardness and misunderstandings. At present, we should focus on how to keep this development and progress sustainable and extend the positive effects to our neighbors such as Afghanistan and other countries in the region.”

Prime Minister Kakar emphasized that Pakistan is considering creating new growth drivers to increase the well-being of the wider region, especially the majority of farmers.

At this point, both China and Pakistan are determined to strengthen regional trade, seek more cooperation opportunities, and provide services for dozens of countries. bil-

BEIJING

Caretaker Prime Minister Anwaarul Haq Kakar on Tuesday met Russian President Vladimir Putin here wherein the two leaders emphasized exploring the ways to further enhance bilateral cooperation in multiple spheres, including trade and defence.

In the meeting held on the sidelines of the Belt and Road Forum, the two leaders stressed the need to strengthen bilateral cooperation in diverse fields, besides discussing matters related to regional peace and security.

Russian President Putin received Prime Minister Kakar before they held a meeting that encompassed bilateral, regional, and international affairs.

In his opening remarks, Prime Minister Kakar said Pakistan and Russia had a convergence of interests on the issue of terrorism, and called for enhanced cooperation and a common approach among the neighbouring countries of Afghanistan.

He said the neighbouring countries should be the foremost to take the initiative and cooperate in the fields of intelligence, defence and counter-terrorism.

Coming to bilateral cooperation, Prime Minister Kakar said Pakistan was an energy-

deficient country of 240 million population.

Pakistan’s energy minister had recently attended an Energy Week event in Russia where he had a “fruitful and constructive engagement” with the Russian team.

The Russian team had come up with concrete proposals for enhancing energy cooperation, he added.

Citing his previous visit to Russia as senator, the prime minister said he was “mesmerized” by the Russian architecture particularly representing Christianity and churches. He said both countries were also close in terms of cultural and ethical values which were not popular beyond that region.

In his remarks, Russian President Vladimir Putin said Pakistan and Russia celebrated the 75th anniversary of the establishment of diplomatic relations this year.

Citing friendly bilateral relations, he said there existed a huge potential for cooperation between Pakistan and Russia.

President Putin said both sides during interactions here would exchange views and discuss the vision, and steps needed to be taken to strengthen cooperation in multiple areas.

He said trade relations between the two countries had increased and this year, Russia had supplied around a million tons of cereals to Pakistan.

and other international dignitaries attending the Forum.

He will also meet with prominent Chinese business figures with the aim of bolstering bilateral trade and investment.

This visit by the Prime Minister occurs within the context of the ten-year celebrations of the China Pakistan Economic Cor-

ridor (CPEC), which stands as a flagship project of China’s Belt and Road Initiative.

During his visit, the Prime Minister will underscore the significant achievements of CPEC and lay out the future priorities for the project, reaffirming Pakistan’s steadfast commitment to advancing its high-quality development.

STAFF REPORT

lions of people creating a better future.

“Next, the teams between the two countries will also conduct deeper cooperation discussions, focusing on diversification and innovation. Based on the 2020 Industrial Cooperation Framework Agreement between the two sides, we will take a new step. We always welcome all partners with an open attitude and invite all willing Chinese companies to invest here,” the PM expressed his expect earnestly.

PM TO SEEK INVESTMENT OPPORTUNITIES DURING HIS VISIT TO XINJIANG: Meanwhile, PM Kakar will travel to Urumqi, Xinjiang Autonomous Region this week to meet local leaders and business representatives, with the goal of strengthening trade, investment, and peopleto-people relations.

According to China Economic Net (CEN), “To further strengthen regional connectivity, trade, investment and people-topeople contacts between the neighbouring regions of Pakistan and China, PM Kakar will pay a two-day visit to Urumqi, Xinjiang

Rupee sees marginal decline after nearly a month of consistent appreciation g

g

Rs 15.00 | Vol XIV No 108 I 8 Pages I Karachi Edition

FALLS BY 20 PAISE IN INTERBANK MARKET. WILL IT BECOME A DOWNTREND? PROFIT

UROOJ IMRAN

The rupee depreciated slightly in the interbank market on Tuesday, bringing to an end almost a month of every day gains.

Data shared by the State Bank of Pakistan (SBP) showed the rupee lost 20 paise against the US dollar to close at Rs 277.03, a depreciation of 20 paise or 0.07% from yesterday’s close of Rs 276.83.

The rupee had fallen to a record low of Rs 307.09 per dollar on September 5. But following a crackdown by agencies on illegal foreign exchange trading and structural reforms introduced by the central bank, the rupee had recovered every day in the interbank market since then. It had gained Rs 30.26 or 9.85% prior to today’s depreciation.

Sana Tawfik, a senior analyst at Arif Habib Limited, attributed today’s depreciation to “rebalancing”. This implies that the rupee has become overvalued following 28 days of appreciation and needs to fall again to its ‘actual value’. “Given that we have a flexible exchange rate, this was bound to happen because our import restrictions have been lifted and debt repayments have to be made. The rupee’s appreciation was going to be halted at some point. The day-on-day depreciation is driven by demand and supply,” she commented.

Pressure on rupee in future Tawfik said the rupee was “rebalancing” itself because of increased demand for the dollar following an uptick in imports. She noted that the International Monetary Fund’s (IMF) World Economic Outlook report released last week projected Pakistan’s economy would grow 2.5% in the current fiscal year compared to a 0.5% contraction last year.

“Pakistan’s economic recovery is consumptiondriven and linked to imports. As the economy recovers and imports rise to an increase in aggregate demand, obviously the rupee will come under pressure,” the analyst said. She added, however, that the devaluation might not be as steep as last year’s when it depreciated by 28%, especially after the administrative measures such as shutting down illegal foreign exchange trading and consolidating exchange companies for better regulation.

“The rupee will continue to move up and down slightly; this just shows the rupee will adjust itself according to demand and supply in a flexible regime.”

High REER, uncompetitive exports Meanwhile, Yousuf Saeed, head of research at Darson Securities, pointed out that the rupee had already appreciated significantly without any fundamental changes or major inflows.

CONTINUED ON PAGE 03

Uyghur Autonomous Region of China.

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

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

Earlier, he received a red carpet welcome when arrived Beijing on his official visit.

The PM is participating in the ‘Third Belt and Road Forum (BRF) for International Cooperation,’ taking place in Beijing from October 17 to 18. The premier is visiting China on the invitation of Chinese President Xi Jinping.

The Prime Minister’s Office, in a statement, announced that PM Kakar will deliver a speech at the high-level forum themed ‘Connectivity in an Open Global Economy’ on October 18.

During his visit to China, the Prime Minister will engage in bilateral meetings with President Xi Jinping, senior Chinese leaders,

Military top brass reiterates diplomatic, moral and political support to Palestinians RAWALPINDI

STAFF REPORT

Chief of Army Staff (COAS) General Asim Munir on Tuesday said the Palestinian people have “unequivocal diplomatic, moral and political support of the Pakistani nation” and vowed to support the end to “unlawful occupation of their territories”.

According to a press release issued by the Inter Service Public Relations (ISPR), Chief of Army Staff (COAS) General Asim Munir was presiding over the 260th Corps Commanders’ Conference (CCC) held here at General Headquarters in Rawalpindi to discuss the IsraelHamas conflict. “The forum viewed with concern the developments taking place in the Gaza-Israel war and the enormous human cost being imposed on the innocent civilians due to the disproportionate use of force by Israel,” it said.

“The Palestinian people have unequivocal diplomatic, moral and political support of the Pakistani nation and we will continue to support the principled stance of our brethren for enduring resolution of the Palestinian issue and end to the unlawful occupation of their territories and Muslims’ sacred places,” the military’s media wing quoted COAS Munir as saying.

The ISPR said earlier participants of the forum paid tribute to the “supreme sacrifices” being continuously offered by the security and law enforcement forces in the defence of the motherland while fighting terrorism.

“Participants resolved that all terrorists, their facilitators and abettors, working on the behest of hostile forces to destabilise Pakistan will be dealt with the unflinching resolve of the state.”

The army chief’s statement comes as Israel has imposed a “total siege” to stop food and fuel from reaching the enclave of 2.3 million people, many poor and dependent on aid, in response to a surprise Hamas offensive on Oct 7.

In retaliatory air and artillery strikes, Israeli forces have flattened entire neighbourhoods, hospitals and schools in Gaza. Authorities say more than 2,800 people have been killed in the Israeli bombing, around a quarter of them children,

and nearly 11,000 wounded are in hospitals desperately short of supplies. A day earlier, the Foreign Office said Pakistan had decided to send humanitarian aid to Gaza on an urgent basis and was in contact with United Nations’ agencies in this regard.

The participants were also briefed on the prevalent geo-strategic environment, challenges to national security and own strategy in response to the evolving threat.

“The forum reiterated the Pakistan Army’s resolve to defend the sovereignty and territorial integrity of Pakistan against all kinds of direct and indirect threats,” the ISPR said.

It added that the participants vowed to fully support the strategic initiatives planned by the government for the revival of the economy by providing “all possible support for the overall wellbeing of the people of Pakistan”.

Interior Ministry up to probe issuance of Pakistani passports to Afghan nationals ISLAMABAD

STAFF REPORT

The Ministry of Interior has formed a committee to investigate the issuance of more than 12,000 Pakistani passports issued to Afghan nationals.

According to media reports, the committee, which is headed by the Deputy Secretary of the Ministry of Interior, will also include senior officers of the Federal Investigation Agency (FIA) and the National Database and Registration Authority (NADRA).

Director General (DG) Passport would be convener of the committee.

The committee has been tasked with identifying the flaws in the system that allowed the scam to happen and those involved in it. It is expected to submit its report within 15 days.

The news of the scam came to light after Saudi Arabian authorities revealed that they had recovered more than 12,000 Pakistani passports from Afghan nationals. The authorities in Riyadh also informed Islamabad on this matter.

The Ministry of Interior has taken the matter seriously and is determined to get to the bottom of it. The committee’s investigation is expected to shed light on how the scam was carried out and who was involved.

1000 Palestinian dead in Israeli strikes on Gaza hospital on eve of Biden visit GAZA

AGENCIES

Israeli air strikes on a hospital compound in the Gaza Strip killed at least 1000 people, the Associated Press quoted the Gaza Health Ministry as saying on Tuesday — the eve of US President Joe Biden’s visit to the Middle East.

Biden’s visit, potentially the riskiest of his presidency, is expected to see him reaffirm US backing for Israel and try to stop the escalating war spiralling into wider conflict.

Thousands of people have been killed since Hamas’ October 7 attack, with most of the dead on both sides civilians.

The health ministry said 1000 people displaced by 10 days of heavy bombardment were killed in “occupation (Israeli) strikes” at the Ahli Arab hospital in central Gaza.

“Hundreds of victims are still under the rubble,” a statement said, calling it a “war crime”.

Soon after the deadly strikes, Palestinian President Mahmoud Abbas canceled his scheduled meeting with the US president, Reuters reported quoting a Palestinian official.

Israeli military spokesman Daniel Hagari told a televised press briefing: “We will look into it… the strike happened just a short while ago.”

CONTINUED ON PAGE 03

Separately, the United Nations agency supporting Palestinian refugees said six people were killed when one of its schools sheltering displaced families was hit, during Israeli air strikes.

UNRWA commissioner-general Philippe Lazzarini called the bombing at Al-Maghazi refugee camp, also in central Gaza, “outrageous” and warned the death toll would likely rise.

“It again shows a flagrant disregard for the lives of civilians. No place is safe in Gaza anymore, not even UNRWA facilities,” he added.

DEATH TOLL IN GAZA CLIMBS TO 4,000: Around 4,000 people, mostly children, have been killed in Israeli

strikes on the Gaza Strip over the past 10 days, the Palestinian health ministry said on Monday as the humanitarian crisis in the enclave continues to worsen.

More than 12,500 others have been wounded since Israel started bombarding Gaza in retaliation for Hamas attacks in Israel which killed more than 1,400 people. The ministry added that 61 Palestinians were also killed while 1,250 were wounded in the occupied West Bank during the same period.

Israel has vowed to annihilate the Hamas group after its fighters killed 1,300 people — the deadliest single day in Israel’s 75-year history.

CONTINUED ON PAGE 03

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GOVT GETS MORE TIME TO APPEAL AGAINST SC’S NAB AMENDMENTS VERDICT

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wednesday, 18 October, 2023 | KARACHI

News

ISLAMABAD

Staff RepoRt

HE Supreme Court (SC) on Tuesday granted 15 days time to the federal government to file an appeal against the apex court’s decision abolishing the amendments made to the National Accountability Bureau (NAB) laws.

The additional time has been given in the light of the SC (Practice and Procedure) Act 2023, which came into force granting a right to appeal the apex court’s verdicts.

Attorney-General for Pakistan Mansoor Awan said the extension was sought to add additional grounds in the appeal against the judgment issued by SC on September 15 about the case.

“There is now a right of appeal under the Practice and Procedure Act,” the AGP said.

The SC, on September 15, ruled to strike down some amendments made to the National Accountability Ordinance (NAO), 1999. The NAB amendments case was related to public importance; thus, it fell under the original jurisdiction of the superior court i.e. Article 184(3) of the Constitution.

Egyptian billionaire considers investment in Pakistan’s Reko Diq project

The time limit for filing a revision against the SC decision expired on October 15, with the government seeking 15 more days for filing an appeal.

The government was, however, supposed to file the appeal against the NAB amendments verdict today.

With the application of the SC law following the top court’s decision to uphold it, additional time has now been granted to the government.

Through the appeal, the government is likely to ask the SC to annul the decision against the NAB amendments and order its

disclose specific investment details, however, this move is part of his broader business expansion into Pakistan PROFIT

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Alfalah buys 7.2% of fintech for 14 crore rupees ISLAMABAD

The Competition Commission of Pakistan (CCP) has given its nod for Bank Alfalah Limited to acquire a substantial 7.2% shareholding in QistBazaar (Private) Limited.

QistBazaar is a leading online retail platform specializing in electronics, and home products under the innovative Buy Now Pay Later (BNPL) service model.

It is an SECP-registered Non-Banking Financial Company (NBFC), operating in the fintech space.

According to its founder, Arif Lakhani, “it offers convenient financial solutions through Shariahcompliant Musawamah financing.” Therefore,

ATC rejects Yasmin Rashid’s bail plea; Three PTI leaders sent to jail LAHORE

Staff RepoRt

The Anti-Terrorism Court (ATC) Lahore on Tuesday rejected the bail application of former Punjab health minister Dr Yasmin Rashid in the Shadman Police station attack case. ATC Judge Arshad Javed rejected the application while presided over the hearing. During the hearing, the prosecutor informed the court that Yasmin is currently in police custody and is under physical remand in connection with the Shadman police station case. He also added that new charges have been filed in the case.

Subsequently, the former minister’s bail plea was not entertained, and the ATC ultimately dismissed it. On the other hand, the Lahore High Court (LHC) rejected a plea that sought to prevent the arrest of social media activist Sanam Javed in any undisclosed cases. The LHC requested details of the cases registered against Sanam, expected to be provided on October 19. The petitioner’s lawyer revealed that Sanam had been previously arrested by the police but was never produced in any court.

Subsequently, a writ petition was filed to ascertain her whereabouts.

QistBazaar is able to push for financial inclusion, by providing the access of financial products to the individuals who don’t even have access to traditional banking. In May 2023, Bank Alfalah, a major commercial bank, became the first bank to venture into the Venture Capital space, investing Rs 14 crore into Qist Bazaar for 7.2% of the company’s equity.

In addition to the equity agreement, Bank Alfalah and QistBazaar also signed a Shariah-Compliant, embedded financing for up to PKR 35 crore, subject to terms and conditions. Under the agreement, the Bank would incorporate its digital financing products within the QistBazaar platform, to offer embedded financing of consumer-durables on a BNPL basis. This was meant to target customers with limited or no access to

formal credit. The transaction was subject to its approval by the regulatory authorities, including the Competition Commission of Pakistan (CCP).

As per details shared by CCP, following a rigorous Phase-I competition assessment. The CCP has determined that Bank Alfalah’s partnership will not lead to undue market dominance, post-transaction. In line with the Competition Act, 2010, and CCP’s Merger Regulations, 2016, the approval was granted under Section 11. According to CCP, Bank Alfalah’s investment in QistBazaar is poised to revolutionize the online retail market. The injection of funds will empower QistBazaar to enhance its service offerings, streamline its operations, and improve overall infrastructure. This, in turn, will translate to an improved experience for consumers, as they can expect better services and a wider range of products.

Profiling, documentation of NCP vehicles begin in Malakand amid public uproar, fear SWAT

NewS DeSk

Egyptian billionaire Naguib Sawiris, known for his successful ventures in telecommunications and gold industries, is exploring the possibility of investing in Pakistan’s Reko Diq copper-gold project, valued at $7 billion. This move is part of his broader business expansion into Pakistan.

Reko Diq, located in the Balochistan region along the borders of Afghanistan and Iran, is recognized as one of the world’s largest untapped copper and gold reserves. It has the potential to produce 200,000 tons of copper and 250,000 ounces of gold annually for over 50 years. The project is a collaboration between the Government of Pakistan and Canadian firm Barrick Gold. During an interview, Sawiris, who is a major investor in the gold mining sector through his company La Mancha Resources Inc. and holds interests in firms like Endeavour Mining Plc, confirmed his interest in the Reko Diq project. He cited his familiarity with the country and its people as an advantage in pursuing this investment opportunity, Bloomberg reported. Sawiris expressed a keen interest in establishing a presence on the Pakistani side, where he has spent 25 years of his business career. However, he did not disclose specific investment details, stating that there were limited alternatives in the region due to a lack of other major projects. Mark Bristow, CEO of Barrick, mentioned a growing interest in Reko Diq from multinational mining companies, signaling a potential shift toward investment in challenging regions. Additionally, the Reko Diq project has attracted attention from Saudi Arabia, which could contribute to its stability in a geopolitically sensitive area. In the previous month, Pakistan’s state-owned energy exploration companies, with a stake in the Reko Diq project, indicated their intent to explore potential collaboration with foreign sovereign investors, without providing specific details.

Separately, Sawiris’ Ora Developers is engaged in a luxury housing project called “Eighteen.”

He previously founded Mobilink, one of Pakistan’s earliest mobile phone companies, which is now owned by Veon Ltd and is the country’s largest cellular service provider in terms of subscribers. Investing in Pakistan comes with certain challenges, including bureaucratic procedures, currency instability, and capital restrictions. Despite these obstacles, Sawiris remains optimistic, stating, “If there is an obstacle in my path, I will overcome it. I have never allowed anyone in my life to hinder me from achieving my goals.”

pending. It should be noted that the SC had, in a majority decision of 10-5 on October 11, upheld the law formulated to regulate the affairs of the top court, but noted that although the right to appeal provided against a decision taken under Article 184(3) will not be applicable retrospectively, it will apply to those ruling which were issued after the law came into effect.

The Parliament had passed the Supreme Court (Practice and Procedure) Act, 2023, in April, and the apex court struck down the amendments to the NAB law in September, allowing the right to appeal.

CCP approves Bank Alfalah’s investment in QistBazaar Ghulam abbaS

g Naguib Sawiris did not

restoration. Meanwhile, petitioner Zubair Ahmed Siddiqui has filed an appeal against the same verdict of the apex court.

Last week, Pakistan People’s Party (PPP) Senator Farooq H Naek filed a review petition against the aforementioned decision on October 14.

The lawyer filed the review petition on behalf of a citizen named Abdul Jabbar, who was neither party in the litigation nor did he belong to any political party. However, he was directly affected by the judgment against the NAB amendments, as an accountability reference against him was

g Positive economic

SyeD ShahabuDDiN

The profiling and documentation of non-custom paid (NCP) vehicles was started in all districts of Malakand Division including Swat district on Tuesday as more than one million NCP vehicles are currently plying roads in Malakand Division and the merged districts of Khyber Pakhtunkhwa.

“In the last meeting of the Provincial Apex Committee, it has been decided to bring the NCP vehicles into tax net following the introduction of tax and imposition of customs duty regime in Malakand Division and merged districts.

After which various institutions including FBR have started preparations but the business community associated with the NCP vehicles, including political and public level, have started strong opposition and have decided to resist the enforcement of tax and customs duty regime.

The government has initially started the process of allotting special numbers to NCP vehicles by establishing centers in the district headquarters of all districts of Malakand Division including Swat. These Centers have been set up at Saidu Sharif Airport and Matta Tehsil of Swat.

“In all these centers, the process of profiling NCP vehicles was started under the supervision of the Excise and Taxation Department. The authority concerned investigates the NCP vehicles with the help of traffic police and later these vehicles will be issued a temporary special number” Swat District Excise and Taxation Officer Nisar Muhammad Khan told the media that profiling of these vehicles has nothing to do with tax or customs duty, adding that “we will prepare a regular record of these vehicles and send them to the government as per the instructions of the government.” He said that there is no truth in the rumors that these vehicles are being brought into tax net as nothing was being charged for profiling these vehicles, pointing out the vehicles already allotted numbers did not need to be reentered. The persons who registered the vehicles on this occasion, Shahid Khan Advocate and Mohammad Sudais said that the process will at least clarify the ownership of the vehicles and these vehicles will be protected from being used in crime or theft.

Since the merged districts including Malakand division are tax free zones, NCP vehicles are used in these districts

outlook is fostering expectations that interest rates may have reached their peak, indicating potential benefits for stock market PROFIT

since 1997 and currently, there are more than one million vehicles being used as private and public transport mean.

On the other side, people are worried that if the tax is imposed, employment opportunities will be taken away. Taxi driver Abdullah told this scribe that he borrowed from someone and bought this NCP vehicle earning sustenance for the children.” If the government does not feel pity for an old man like me, then kill us to settle the story once and for all”, he regretted.

Bargain Association President Akbar Khan said that there are one-thousand in Swat district while more than sixhundred bargains and car showrooms throughout the division for purchasing and selling NCP vehicles, adding millions of people were associated the business of NCP vehicles in the region.

“If the government tries to take our jobs away from us, we will put up strong resistance,” he expressed the resolve and added it is a tax-free zone and as long and they will resist any attempt to deprive the region of facility.

Due to the abolition of customs duty, the NCP vehicles brought from Afghanistan are 50 to 70 percent cheaper than the market and this is why every third household owns one or two NCP vehicles in the region.

‘NO POLICY WITHOUT PUBLIC CONSULTATION’ Commissioner Saqib Raza Aslam said that no policy will be made without public consultation, adding that this issue is not only for Malakand but also for the merged district of erstwhile Fata and Gilgit-Baltistan.

FBR denies amnesty scheme for non-customs paid vehicles

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Exemption for NCP vehicles in certain regions set to conclude on June 30, 2024, after receiving a one-year extension PROFIT

NewS DeSk

The Federal Board of Revenue (FBR) has quashed rumors of an impending amnesty scheme for non-customs paid (NCP) vehicles, dismissing these claims as baseless and asserting that no such proposal is under discussion or consideration. This clarification comes at a time when vehicle prices have noticeably surged across various categories over the past few weeks, leaving consumers and dealers concerned. According to FBR’s spokesperson, Afaq Ahmed Qureshi, the notion of an amnesty scheme for NCP vehicles is out of the question, particularly as Pakistan remains committed to an International Monetary Fund (IMF) program.

The rumors of an amnesty scheme have been fueled by a coordinated effort, particularly from dealers who have heavily invested in NCP vehicles in Balochistan, Khyber Pakhtunkhwa, and Gilgit-Baltistan, advocating for such a scheme. However, senior customs officials have cited past experiences of corruption and legal disputes associated with a similar amnesty scheme introduced in 2010. To them, the prior scheme proved bitter experience and failed to effectively reduce the influx of smuggled vehicles or generate substantial revenue for the FBR. In light of these past issues, the FBR appears to be hesitant to consider a new amnesty scheme for NCP vehicles. Nonetheless, sources indicate that there is significant pressure from security forces to contemplate a scheme for the regularization of NCP vehicles, despite opposition from the customs department. This matter was even brought up in a recent meeting of the Peshawar

PSX shortly surpasses 50,000 points first time in six years

NewS DeSk

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index shortly soared above the 50,000 point mark on Tuesday, marking a resurgence that analysts say has not been witnessed for six years. The KSE-100 index recorded a high of 50,017.45 points in the afternoon on Tuesday before slightly receding to 49,787.57 points two hours later.

Brokerage firm Arif Habib Limited shared this development, highlighting a robust intraday gain of 286 points (equating to 0.58 percent), pushing the KSE-100 index above the 50,000point threshold. This level was last witnessed on June 7, 2017. Index-heavy sectors, such as automobile assemblers, commercial banks, cement, chemicals, oil marketing companies (OMCs), and oil and gas exploration firms, displayed a varied trend. The head of equity at a prominent brokerage firm said that investors are closely monitoring the government’s focus on revitalizing the economy and strengthening of Pakistani rupee. This positive economic outlook is fostering expectations that interest rates may have reached their peak, indicating potential benefits for the stock market. After hitting a record low of 307.1 in the inter-bank market on September 5, the local currency embarked on one of its lengthiest periods of appreciation. This remarkable turnaround can be attributed primarily to intensified efforts against smuggling and the implementation of stricter controls within the Exchange Companies (ECs) sector.

‘Inordinate delay’ in deciding cases against PTI’s jailed leaders concerning: PTI spokesperson ISLAMABAD

Staff RepoRt

apex committee, sources added. Chairman of the All Pakistan Motor Dealers Association, H. M. Shahzad, suggested that the government should focus on those facilitating the transport of vehicles from Afghanistan, emphasizing that these vehicles, aged between five to ten years, are entering via the Bandar Abbas port in Afghanistan. He criticized the government for repeatedly considering schemes that primarily serve to legitimize undisclosed income, potentially affecting national revenue collection.

Mr. Shahzad also noted that local manufacturers have significantly increased their prices, raising concerns about the inconsistency in government policies regarding the automobile sector. Additionally, the exemption for NCP vehicles in certain regions is set to conclude on June 30, 2024, after receiving a one-year extension by the previous government. The exemption initially was due to lapse on June 30, indicating upcoming changes in the regulations for these vehicles in these regions.

Pakistan Tehreek-i-Insaf (PTI) spokesperson has expressed serious concerns over the unjust and unnecessary delay in deciding the “fabricated and politically-motivated” cases against PTI leaders incarcerated in various jails across the country, as ‘justice delayed is justice denied’. PTI spokesperson strongly condemned subjecting Dr. Yasmin Rashid, Senator Ejaz Chaudhary, Mian Mahmood-ul-Rashid, Umar Sarfaraz Cheema, Aliya Hamza Malik and Sanam Javid along with other detained PTI leaders and workers to the political revenge and state repression through needlessly drawn-out and lengthy courts’ proceedings. He said that PTI senior leaders and workers were facing the worst political vengeance and state tyranny in the country’s history, adding that the disgraceful and shameful game of spreading anarchy and chaos had been going on for the several months in the country. However, PTI spokesperson lamented that the justice system was miserably failed in maintaining and protecting its reputation. PTI spokesperson said that even the challans of the most of the PTI detained leaders did not submit before the courts hitherto and the trials of their cases were mere limited to the courts appearances.

03

PSO GRAPPLES WITH RECORD RECEIVABLES OF RS755B Wednesday, 18 October, 2023 | KARACHI

P

NEWS

KARACHI

NewS DeSk

AKISTAN State Oil (PSO), the nation’s largest fuel supplier, faces a daunting challenge as its receivables have soared to a record-breaking Rs755 billion, constituting approximately 21 percent of its annual revenue.

In its most recent financial report submitted to the federal government, PSO revealed that nearly 90 percent of its funds were entangled in unpaid dues from

government entities, notably the Sui Northern Gas Pipelines Ltd (SNGPL), which alone owed a substantial backlog of about Rs478 billion.

As of the latest available data, the total receivables from various entities reached an alarming Rs754.51 billion, with principal dues accounting for Rs531.4 billion.

Consequently, PSO’s payables to international suppliers of oil products and liquefied natural gas (LNG) have escalated to over Rs231 billion. The total payables as of October 15 amounted to Rs292 billion, including a substantial Rs60 billion owed to

local refineries.

Significantly, a major portion of the mounting receivables, approximately Rs478 billion, is attributed to SNGPL, which includes approximately Rs115 billion in late payment surcharge and Rs361 billion in dues for LNG supplies.

Moreover, the power sector is also a significant contributor to PSO’s financial woes, with outstanding dues of Rs185 billion. This includes Rs151 billion owed to public sector generation companies and the Central Power Purchasing Agency (CPPA).

Hubco has outstanding dues of Rs29 billion,

and Kapco’s dues amount to Rs5 billion.

The government’s unpaid obligations have further led to PSO’s escalating payables in the form of letters of credit and standby letters of credit to Kuwait Petroleum and Qatar Petroleum for petroleum products and LNG imports, surpassing Rs231.4 billion.

Additionally, the company owes refineries a considerable Rs60 billion, with a significant Rs32.4 billion payable to Parco.

On the other hand, PSO has suspended fuel supplies to PIA over a simmering dispute regarding unpaid dues. As a result of this standoff, PIA was compelled to cancel 14

CPEC crucial for Pakistan’s economic recovery ISLAMABAD

Staff RepoRt

There is no doubt that the China-Pakistan Economic Corridor is crucial to Pakistan’s economic recovery, says a report published by Gwadar Pro on Tuesday.

The most crucial point is that the development and growth of the Belt and Road Initiative has enabled Pakistan to make extraordinary progress in infrastructure construction, import and export logistics, etc.

Belt and Road Initiative is China’s epoch-making plan for global economic development. For Pakistan, the ChinaPakistan Economic Corridor is launched here as a flagship project of the Belt and Road Initiative.

China can effectively connect the Indian Ocean and the Arabian Sea through roads, and it has also opened a new door for Pakistan’s future diversified economic development.

An economic corridor like the Belt and Road covering a vast territory connects all participating countries in Central Asia, Africa, and Europe into a huge common development network.

Not long ago, on the occasion of the tenth anniversary of the construction of

the China-Pakistan Economic Corridor, officials from the National Development and Reform Commission of China once again emphasized the importance of the project to Pakistan, China, and even the world.

In August 2023, Chinese President Xi Jinping proposed in his keynote speech at the China-Africa Leaders’ Dialogue that China will mobilize the enthusiasm of China’s cooperation resources and enterprises in Africa to support Africa in developing manufacturing and achieving industrialization and economic

Rupee sees marginal decline after nearly a month of consistent appreciation CONTINUED FROM PAGE 01

The REER (Real Effective Exchange Rate) index had gone above 100, which indicated that exports were not competitive, he added. What is REER? A country’s currency can be overvalued, undervalued or in equilibrium, with the last indicating that prices will remain stable as demand and supply are balanced. The REER indicates how well the equilibrium is being maintained. Economists use REER to analyse how competitive a country’s exports are compared to its major trading partners.

If the REER is high, it means the country’s currency is overvalued compared to its trading partner, thus rendering its exports uncompetitive. For example, if the rupee appreciates against the dollar, it means that people in the United States would need more dollars to buy products from Pakistan as its exports have become more expensive. This would mean a loss in trade competitiveness. On the other hand, it would make imports from the US to Pakistan cheaper as Pakistanis would need less dollars to buy those products. According to data shared by brokerage house JS Global Capital, Pakistan’s REER now stands at 103, which is a one-year high.

This means the rupee is overvalued and needs to undergo a correction or rebalancing.

diversification.

Facts have proven that China does not seek to impose anything on other countries through the Belt and Road Initiative, but rather hopes to develop a diversified strategy that takes into account the actual problems and specific needs of other countries.

Ten years have passed since the official implementation of the Belt and Road Initiative in 2013. After this year’s summit forum, the BRI will enter a new stage, and all participating countries will work together to bring industrialization to a new level.

For Pakistan, this possible change will be of extraordinary importance because Pakistan has the potential to promote new developments based on its original industrial base and revitalize the national economy.

China and Pakistan will sign a series of new memorandums of understanding.

China and Pakistan will sign 11 agreements on infrastructure, energy and other projects. In addition, the two countries decided to issue announcements to further promote comprehensive cooperation in various fields of the China-Pakistan Economic Corridor.

In Pakistan, work is in full swing during the meeting between Chinese President Xi Jinping and Prime Minister Kakar. According to media reports, Pakistan and China have reached an agreement on the financing of the ML-1 project.

Moreover, the Ministry of Planning, Development & Special Initiatives has reached consensus with other relevant ministries and the Chinese Embassy on working documents for multiple cooperation projects, which will also be officially signed at the Belt and Road Forum during Prime Minister Kakar’s visit.

SHO among five rescued in Rangers, police operation in Sindh’s Shikarpur SINDH

Staff RepoRt

A police officer, his son and three other policemen, who were kidnapped by armed bandits were recovered in a joint operation conducted by the Rangers and police in Sindh’s Shikarpur district, an official said on Tuesday.

On Oct 11, over 30 armed dacoits, belonging to the Budhani Jatoi gang, had stormed the Kot Shahu police station in the katcha (riverine) area of Khanpur and abducted five policemen, including SHO Brohi and his son, who is an under-training cop.

Officials believed the brazen abduction occurred to pressure police into releasing Mahar Budhani Jatoi, who was arrested from Qambar-Shahdadkot. A massive operation is under way against the gangs operating in the northern Sindh and southern Punjab region.

A case against 14 suspected dacoits belonging to the Budhani Jatoi gang and their 16 unidentified facilitators had been registered under sections of the Pakistan Penal Code and Anti-Terrorism Act at the Kot Shahu police station.

The nominated suspects included Dado, Banhu, Abdul Haq, Jabbar, Ghulam Mustafa, Popat, Ali Murad, Hazooro, Gaman and Shaukat.

A large police contingent had chased the gangsters deep into the riverine area of Kot Shahu but could not reach them. Subsequently, a Rangers-police force

equipped with armoured personnel carriers (APCs) rolled into the adjacent Naparkot riverine area to rescue the hostages and arrest the gangsters.

However, until Oct 14, the law enforcement agencies had failed to locate them.

Confirming the development today, Shikarpur Senior Superintendent of Police (SSP) Khalid Mustafa Korai said the arms and ammunition taken away by dacoits were also recovered from their possession.

He said the abductees were recovered during a search operation in Kot Shahu Police Station’s jurisdiction. They were identified as SHO Brohi’s son Mohammad Ali, head moharir Kot Shahu Police Station Naeem Gopang, policemen Jan Mohammad Bakhrani and Ayaz Kumbhar.

1000 Palestinian dead in Israeli strikes on Gaza hospital on eve of Biden visit CONTINUED FROM PAGE 01

It now prepares to escalate a ground offensive in response to the Hamas blitz.

On Tuesday, Prime Minister Benjamin Netanyahu called for broad international support in the country’s war against Hamas.

“The savagery that we witnessed perpetrated by the Hamas murderers coming out of Gaza were the worst crimes committed against Jews since the Holocaust,” Netanyahu said, referring to the extermination of more than six million Jews by the Nazis.

Israel has tightened its blockade on Gaza, including by restricting the entry of food, water and fuel and bombarding the area with air strikes that have killed thousands of Palestinians, displaced hundreds of thousands more and resulted

in severe shortages of food, water and medical supplies. According to the United Nations’ World Food Programme, the food situation in the besieged Gaza Strip is running “really short”.

“Inside the shops, the stocks are getting close to less than a few days, maybe four or five days of food stocks left,” WFP’s Middle East spokeswoman Abeer Etefa, told reporters in Geneva via video link from Cairo.

She said that out of five flour mills in the Gaza Strip, only one was operating due to security concerns and the unavailability of fuel. “So the bread supply is running low and people are lining up for hours to get bread,” she said. Only five bakeries out of 23 in Gaza contracted by WFP were still in operation, she added. “Our food supplies within Gaza are running really short,”

said Etefa. The spokeswoman said there has been no looting of WFP warehouses, and “anyway, whatever we have left in the warehouses is so little”.

“Hospitals are at a breaking point and are overflowing and with people desperately seeking a safe shelter,” the WHO has said.

“Crowding is getting worse. Over 30,000 people are sheltering at Shifa Hospital alone,” the UN agency told AFP, quoting Hamas health ministry figures.

“We are extremely concerned about disease outbreaks due to mass displacement and poor water and sanitation among people who are already in a dire situation.”

The hospitals are attractive because they have been relatively spared from the Israeli bombing raids that have hit Gaza every day since the October 7 attacks.

But the WHO says that 111 medical buildings have been hit, 12 medical workers have been killed and 60 ambulances targeted.

About one million people from northern Gaza have moved to Khan Yunis and other southern districts to avoid the looming Israeli ground offensive. About 100,000 people are left in the northern district around Gaza City that Israel says is a Hamas stronghold and has warned will be the target of its assault. Conditions across the tiny territory are worsening every day for the 2.4 million population, according to aid agencies.

Unicef, the UN children’s agency, has said that unless water and fuel are sent “immediately”, Gaza inhabitants are in “imminent danger” of epidemics and death.

PTI chairman’s cell in Adiala Jail ‘extended’ RAWALPINDI

Staff RepoRt

The cell of incarcerated Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan was extended in Adiala Jail.

The PTI chairman requested the special court judge about the extension in his jail cell in Adiala Jail during the last hearing of the case.

The jail cell of the PTI chairman has been ‘extended’ to almost 60 feet from 35 feet on the orders of the special court judge Abu Alhasnat, who is hearing cipher case against the former prime minister in the

prison. In today’s hearing former chairman Imran Khan and former foreign minister Shah Mahmood Qureshi were to be indicted but the judge deferred their indictment for a week. During today’s hearing, the copies of challan in the case were given to the suspects of the cipher case. The former prime minister made two more requests from the judge in today’s hearing including for homemade food and a cycle for workouts, the sources said. Judge Hasnat reportedly said the provision of food in jail is the responsibility of jail authorities while he issued a provision of the cycle to the former prime minister as per jail manual.

domestic flights and delay four others, leading to inconvenience for hundreds of passengers.

A spokesperson for PIA confirmed the severe impact of the fuel supply suspension on the airline’s flight schedule. Negotiations between the management of PIA and PSO were reportedly ongoing late into the night on Monday.

The consequences of these cancellations and delays extended not only to passengers but also to the airline’s flight crew, who encountered their own set of challenges and inconveniences resulting from the disrupted flight departures.

Ephedrine case: LHC reserves verdict on Hanif Abbasi’s appeal LAHORE

Staff RepoRt

The Lahore High Court (LHC) has reserved its verdict on Pakistan Muslim League Nawaz (PML-N) leader Hanif Abbasi’s appeal in the ephedrine case. The Lahore High Court (LHC) will announce its reserved verdict on Hanif Abbasi’s appeal in the ephedrine case. The PML-N leader had filed an appeal against its sentence in the case. During the hearing, the government lawyer said that ephedrine was received

by Abbasi’s company and he was due to provide evidence of manufactured capsules and tablets. The lawyer argued that the company did not provide invoices of allotted medicines to the companies. He pleaded with the high court to review the statements in the three appeals. To this, the judge remarked that the quality of testimonies, records and evidence should be high in accordance with strict penalties.

Later, the LHC reserved its verdict on Hanifasi’s appeal in the ephedrine case which would be announced on Wednesday (tomorrow). The AntiNarcotics Force (ANF) had registered a case against Hanif Abbasi and others in June 2012 under sections 9-C, 14 and 15 of the Control of Narcotics Substances (CNS) Act for misuse of 500kg of ephedrine.

Military top brass reiterates diplomatic, moral and political support to Palestinians CONTINUED FROM PAGE 01

The forum also took a holistic review of the ongoing actions being taken against illegal economic activities.

“Pakistan Army will continue to provide all-out support to the government and LEAs in taking strict lawful actions aga inst illegal economic activities across the country. “Actions against hoarding and smuggling mafias and cartels in different domains will be further strengthened in coming days to rid the country from the negative impact of such ill practices,” the COAS emphasised. The army’s media wing further stated that the forum resolved to support the government’s decision to repatriate and deport all illegal foreigners from Nov 1. “The COAS directed all concerned to support and facilitate smooth, respectable and safe repatriation/deportation of all illegal foreigners,” the ISPR said. “The COAS stressed maintaining high standards of professionalism and motivation during operations and achieving excellence during training of the formations,” it concluded.

Pakistan, Kenya reaffirm commitment to enhancing bilateral ties in diverse fields BEIJING

Staff RepoRt

Pakistan and Kenya have reaffirmed their commitment to enhancing bilateral relations in areas of trade, investment, education and people to people contacts. This commitment was expressed at a meeting between Prime Minister Anwaar-ul-Haq Kakar and Kenyan President Dr. William Ruto on the sidelines of the 3rd Belt and Road Forum for International Cooperation in Beijing on Tuesday. The two leaders discussed bilateral cooperation in diverse fields. They emphasized the importance of economic cooperation and agreed to enhance engagement to realize the true potential of bilateral trade. The Prime Minister said that as a fellow member of the Belt and Road Initiative, Pakistan would like to enhance collaboration with other BRI member countries including Kenya to identify and develop new projects and initiatives. This commitment underscores Pakistan’s dedication to furthering development and shared prosperity through increased cooperation and partnerships. President Dr. William Ruto echoed the sentiments and expressed his country’s interest in learning from Pakistan’s expertise in sectors like agriculture and healthcare. Anwaar-ul-Haq Kakar also requested the Kenyan President for facilitation and finalization of the report of Special Joint Investigation Team in the murder case of late Pakistani journalist Arshad Sharif. He extended an invitation to the President of Kenya to visit Pakistan at an early date.

President Dr. William Ruto accepted the invitation and also invited the Prime Minister to visit Kenya at his earliest convenience.

04 COMMENT

What Israel, Hamas, and the USA should have known

Wednesday, 18 October, 2023

Making it last

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Reduction in petrol price is good news, but can it last?

HE reduction in the petrol price is the second successive cut in the fortnightly review, but one of the factors behind the decline has witnessed a dip, while the government has no control over the second, making it possible, even likely, that the inflation genie will remain out of the bottle. That the petrol price has been cut is welcome news, for it means that prices will not rise, and may even come down.

Certainly, it should mean some relief on electricity charges, with a decline in the fuel adjustment charge already being mooted. The reasons for the decline however themselves reveal why this downward movement may not be lasting.

One is the decline in value of the dollar. That has been brought about through administrative means, and there is a possibility that the long bull run of the rupee may be near its end, with the month-long trend of a decline in the rupee ending on Tuesday. The second factor is the decline in international oil prices. However, that is beyond the control of any administrative measures. That too may not go any further, with prices already rising in response to the Israeli blitz of Gaza.

The caretaker government may be basking in the glory reflected by some narrow benchmarks, like the rupee parity and the pump petrol price, but the fact remains that there have been none of the fundamental changes needed to set the economy on a sound footing.

Perhaps that is as well. Such fundamental changes, necessary for lasting changes, rather than the headlinegrabbing changes wrought so far, can only be made by a government duly invested in them, able to carry along public opinion. That is only possible if the government has been elected. The caretaker government seems to have forgotten that its task was to hold free, fair and transparent elections to produce such a government, rather than making fundamental reforms itself. Its members must resist the temptation to attempt to solve perennial problems, and keep themselves in readiness to face such genuine emergencies as natural disasters or enemy attacks. It must realize that it is not vying in any popularity contest, and has no need to convince anyone of its abilities.

That is best left to politicians who contest elections.

The bloodshed continues

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Washington Watch Dr James J Zogby

OOKING at the unfolding horror in Gaza, I am reminded of two important lessons that should have been heeded by Hamas, Israel, and the USA. The first came from the late Ibrahim Abu Lughod, the brilliant Palestinian American historian. He always cautioned never to make judgements based on the day’s headlines, because like the ocean’s tides or waves, they come in and go out. If we are driven by them, we are left flailing about without being grounded in reality. Rather, we should focus on the deep currents that shape the direction of events.

Using that lesson, I scoff at the “pundits” who insist that after this Gaza War nothing will ever be the same again. No doubt, some things will be different, but when the dust settles, no matter how much damage Israel is able to inflict on Hamas, the Palestinian people, and Gaza, too many constants will remain.

In the first place, Palestinians will still be under an oppressive occupation, chafing at the way Israel covets their land and denies them freedom. Hamas may be defeated, but out of the anger and trauma caused by this massive display of Israeli might, the seeds are being planted for Hamas 2.0 or something worse. At the same time, the already diminished Palestinian Authority will have become even more irrelevant and Palestinians, as they have been since the tragic end of Yasser Arafat, will be operating without a leadership that could actually inspire them. That unfortunately will not change.

Israel also will not change. As it emerges from its trauma, its politics will not be more moderate. There may be less of a push for radical changes in the judiciary and fewer accommodations made for the ultraOrthodox, but Netanyahu’s new/old partner, Benny Gantz, is no less hardline on the Palestinian issue. In fact, Gantz’s past critique of Netanyahu was that he hadn’t “finished off” Hamas in the last Gaza war.

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

Yousaf Nizami

Sadly, nor will anything change on the US front.

While public opinion, especially among Democrats, continues to be increasingly critical of Israel (and will most likely become more critical after Israel finishes bombing Gaza), the pro-Israel lobby will continue to intimidate elected officials in both parties. At some point, the Biden Administration may decide that Israel has gone too far with its murderous assault and press it to halt the violence, but we shouldn’t expect the USA to apply the kind of pressure needed to force an end to the occupation or justice for Palestinians. The bottom line is that because constants will not change, neither will the political realities shaping the conflict.

The second lesson comes from the famous “doctrine” attributed to former Secretary of State Colin Powell. He laid out a series of questions to be considered before ever engaging in a war. Among them were: Is there a clear and attainable objective? Have risks and consequences been assessed?

Is there an exit strategy?

It will be recalled that Powell tragically didn’t follow his own doctrine which led to debacles in Afghanistan and Iraq. It’s equally clear that neither Hamas nor Israel heeded his guidance.

There are 2.3 million Palestinians in Gaza. In our most recent polling, Hamas has the support of about 20 percent of them. If history is our guide, Israel’s murderous assault will only make Palestinians angrier and more inclined to fight Israel, just as Hamas’ murderous assault only gave reprieve to an unpopular Netanyahu.

What then were the attainable objectives for either Hamas or Israel? Did Hamas think they would actually advance their cause? Did they believe that their butchery would end the occupation, harm Ne-

ItÊs too late to answer these questions now. They should have been asked and answered by all parties before Hamas launched its deadly attacks, Israel embarked on its massive devastation and killing of Palestinians in Gaza, and the US gave Israel blank-check support.

Unravelling India’s population surge M. A. Niazi

Editor Umar Aziz

Joint Editor

Executive Editor

Implications and Outlook

O

muhtasim afriDi

VERPOPULATION is an evergrowing issue that affects multiple countries around the globe, including India. From 1955 to 2022, China remained the most populous country in the world, followed by India.

However, the April 2023 report shows that India’s population has dramatically changed.

The country pulled ahead and surpassed its neighbour with a 1.428 billion population, a 0.68 percent increase from the previous year, leaving behind China with a 1.425 billion population. The restrictive policies that limited families to three children have vividly reduced China’s birth rate. On the contrary, India has no such effective policies to curb the population surge; hence the number is still increasing.

While the overpopulation monster is having its way, India is oblivious to its severe implications. The country cannot compete with China because of its huge labour force to yield demographic dividends as the majority of the Indian population is uneducated and below the poverty line. It has been predicted that by 2050, the world population will be 9.8 billion, and India will have a population of 1.7 billion.

This raises the issue of how the Indian government will solely impose its will on the most religiously diverse people. Overpopulation will certainly have a substantial impact on several aspects of the country including its society, economy, environment, and infrastructure.

First of all, when the population grows, the basic needs of individuals increase, which puts huge pressure on the country’s limited resources, such as water, food, energy, and raw materials. This leads to resource depletion and the subsequent emergence of inflation. Due to low income, people with huge families cannot sustain themselves for too long against inflation.

Therefore, the substantial financial load tends to push households to reduce their quality of life,such as taking less care of their health, which makes them more vulnerable to lifethreatening diseases such as tuberculosis, diarrhoea, and malaria.

Another downside of overpopulation for India will be unemployment. Overpopulation reduces job opportunities for people in private and government organizations. For instance, a room that can hold 10 people cannot hold 15 or 20 people; similarly, organizations are restricted in terms of their number of employees. Accord-

ing to an Indian economist, “India’s youth bulge is a double-edged sword. To make it productive, India needs to create enough job opportunities for the masses– a challenge at which the country is currently failing.” Due to the unavailability of jobs, people find robbery, shoplifting, looting, and kidnapping as fine alternatives to jobs, resulting in more chaos and violence.

Overpopulation also fuels urbanization, bringing along many consequences. According to the 2022 reports, urbanization in India has increased by four percent in the last decade, which shows that people have moved towards cities to find work and make a living.

It builds pressure on the cities; creating complications such as congested housing, traffic blockage, and improper sanitation services.

The progress of any state depends mainly on its cities, where the structure is laid down in such a way that makes the processes very smooth. However, overpopulation makes it harder to achieve the objectives set by a state for a specific period of time– which results in poor and sluggish development.

Another huge problem that overpopulation may contribute to, is environmental degrada-

tanyahu’s government, or improve their own standing among Palestinians or in the Arab World? And does Israel really believe that massacres in Gaza are going to pacify Palestinians, turning their hatred into acceptance or that it will salvage Netanyahu’s electoral fortunes? And did either Israel or Hamas think of what might happen in weeks two or three of this war or what the end game might be?

One can try to understand— but never excuse— Hamas and Israel for striking out blindly. But the USA needed to be more level-headed. Having seen Israel engage in similar past efforts to destroy Hamas or Hezbollah— and seen them fail— why did the USA think this would be different? Did the Administration actually believe that by giving Netanyahu fullthroated support that he would act with restraint? Or that the resultant devastation of Gaza and killing of thousands would hasten the prospects for regional peace? And did they really believe that Israel would be any more successful in this war than it was in 2006 in Lebanon or the biannual wars with Hamas over the past 15 years, or for that matter than we, ourselves, were in Afghanistan or Iraq?

It’s too late to answer these questions now. They should have been asked and answered by all parties before Hamas launched its deadly attacks, Israel embarked on its massive devastation and killing of Palestinians in Gaza, and the US gave Israel blankcheck support. Now we’re left to live with the horrific consequences of everyone’s foolishness—the dead, the rubble, and the trauma and anger on both sides.

tion. India moved up to the eighth-most polluted nation in the world according to the World Air Quality Report 2022, with an average annual PM2.5 concentration of 53.3 micrograms per cubic metre, more than 10 times the level set by the World Health Organization. It occurs mainly because of the increased demand for natural resources and energy, which intensifies climate change and adversely affects the natural environment.

Moreover, India is ignorant of the religious crisis; handling a densely populated country with varied interests is a multifaceted issue. The country consists of Hindus, Muslims, Buddhists, Christians, and Jews, among others. Such differences can lead to intensified tensions, as we have witnessed over the past year that Hindu religious processions have frequently descended into violence and chaos across India. It can also influence the decisions of the Indian military in the region. Pakistan in particular, has a long history of conflicts with India, and the tensions between both countries can be intensified by population pressures.

The writer is a research intern at the Institute of Strategic Studies Islamabad; he can be reached at: muhtasimafridi166@gmail.com

The writer is President of the Arab American Institute

Editor’s mail

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

Ragging of newcomers in universities

I’m writing to express my deep concern about the issue of ragging or hazing newcomers in universities across Pakistan. Many students come from backward areas of Pakistan to pursue their education at well-known universities in Pakistan. As a concerned citizen and advocate for a safe and inclusive educational environment, I believe it is crucial to address this pressing issue promptly.

Ragging, which refers to the initiation or hazing of new students, can be a significant problem in universities worldwide, including Pakistan.

Ragging refers to the physical, psychological, and emotional humiliation of newcomers in front of other newcomers and seniors by their seniors.

Ragging, in all its forms, has severe consequences for the physical, emotional, and psychological well-being of the victims. It hampers their ability to adapt to the university environment and can leave lasting scars.

Moreover, it goes against the principles of respect, tolerance, and inclusivity that are fundamental to the educational institutions of our country.

Ragging can have harmful impacts on newcomers, such as a loss of confidence, being victims of physical harm, and mental and emotional distress. Due to the fear of being ragged, some newcomers may cancel their admissions and face other major problems.

To conclude, I’m aware that many universities have taken steps to combat ragging by implementing anti-ragging policies and disciplinary measures. On the other hand, unfortunately, only policies are made, but practical steps can’t be taken, as in Quaid e Azam University Islamabad.

The government should take strict measures practically to implement the anti-ragging policies in universities rather than only making policies without implementation.

Orientation sessions should be delivered to newcomers by senior students. Orientation sessions can help newcomers understand the university environment and boost their confidence. However, it is evident that more needs to be done to completely eradicate this harmful practice from our educational institutions. By eradicating such activities from universities, newcomers can adjust easily, pursue their education, and achieve their goals.

KASHAF ASHRAF SINDH

Import duties dilemma

In conclusion, overpopulation is an ongoing issue in India, and the country is unaware of its rising dangers. There are many countries with huge populations but it mainly depends on how it is managed and addressed. For instance, the way China has developed birth policies and kept modifying them to control their population is an example for the whole world. Similarly, India needs to show a serious concern to tame the population monster.

Lahore – Ph: 042-36300938, 042-36375965

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Karachi – Ph: 021-35381208-9

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Islamabad – Ph: 051-2204545

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IN an effort to combat Pakistan’s ongoing economic crisis, the caretaker government is considering imposing “prohibitive” regulatory duties on luxury and non-essential imports. Previously, Pakistan implemented a strict import ban to safeguard its foreign reserves, initially yielding positive results in the current account. However, when the government relaxed these restrictions, the Pakistani rupee rapidly depreciated, and the gains in reducing trade deficits were minimal compared to the damage inflicted on productive and export sectors.

Now, the government is preparing a more comprehensive plan that may expand the list of restricted products by at least 30 percent. This move raises concerns about the lack of a viable local industry to substitute for these imported goods. Moreover, there is a fear that illegal mafias may flourish, leading to a surge in smuggled goods infiltrating the markets. Past experiences have shown that such policies often result in increased costs for in-demand goods without effectively curbing smuggling.

Climate ‘countdown clock’ report launched ahead of key UN talks A more beneficial approach could involve seeking assistance from international lenders to restructure loan liabilities while focusing on enhancing local production. Relying on import restrictions or making imports prohibitively expensive may not be the ideal solution for Pakistan’s economic woes.

AMIN BALOCH TUNK

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Everyone feels smothered

Wednesday, 18 October, 2023

Rights given must be implemented

F

Sarmad Sattar

UNDAMENTAL rights to peaceful protest and due process should not be sacrificed as a result of Pakistan’s political strife. Non-state actors, both domestic and foreign, contribute to a culture of lawlessness via violence, abuse, and social and religious intolerance. And this has recently been the case in Pakistan.

There are numerous reports that the government or its agents committed arbitrary and unlawful arrests.

There were reports that the members of marginalized racial and ethnic communities were overrepresented among the victims of some abuses. Speaking about the rule of law in Pakistan is fatuous. This is a state where “might is right” and anarchy, in its worst connotations, rules supreme.

In terms of enforcement, the government has failed to reform the criminal justice system, resulting in the police, paramilitary, military, and state intelligence services having total control. According to the Preamble of the Pakistani Constitution of 1973, the people of Pakistan can thrive and reach their proper and honoured place from within, which appears to be a gloomy reality for the welfare state.

The grim reality facing Pakistan, which is struggling on political, social, and economic fronts, is that the nation has yet to confront the evils ailing its core.

Pakistani society is polarized into “haves” and “havenots”. With the economic gap widening, the masses, with barely enough for two square meals a day, harbor hatred against elites that live in their “dreamland” where all is well. This polarization has yielded intolerance, illiteracy, militancy, and unemployment; and, as a result, the moral fabric of the society is fast unraveling.

There have been a lot of unconscionable acts committed by Pakistani government agencies lately. Authorities seldom investigate or punish government officials for reported human rights abuses or acts of corruption.

This results in a lack of accountability of security agencies regarding violations of the rights to life, to freedom from torture, and to liberty and security of person. The law enforcement and the authorities should display re-

straint and respect for human rights and the rule of law.

Lack of government accountability, and abuses, by security agencies, often go unnoticed, fostering a culture of impunity among perpetrators.

It additionally necessitates the implementation of Pakistan’s International Human Rights obligations. The United Nations Basic Principles on the Use of Force and Firearms by Law Enforcement Officials stipulate that security forces must utilize the minimum necessary force at all times. When dispersing violent assemblies, firearms may solely be employed when less harmful alternatives are not feasible, and solely to the minimum extent essential. Law enforcement officers may resort to lethal force solely when strictly indispensable to safeguard life.

The Constitution of Pakistan also provides for preventive detention for individuals posing a threat to public order, as per the Maintenance of Public Order Ordinance, 1960, which extends to three months but can be further extended up to one year. The higher judiciary, in various rulings, has mandated that preventive detention orders, whether under the MPO or the ATA, must satisfy certain criteria. The detaining authority must substantiate its order and all the grounds cited with significant material evidence of the detainee’s prejudicial activities, and it must present all the evidence before a court to allow for the assessment of the order’s lawfulness.

Allegations of arbitrary arrests and detention have also been made in connection with counter- terrorism operations. Prolonged pre-trial detention under counterterrorism legislation remains a serious concern. The Protection of Pakistan Act, 2004 allows for preventive detention for up to 90 days and grants law enforcement officials powers to carry out searches without a warrant and to arrest people without judicial approval for a range of offences.

These extensive powers are potentially incompatible with Article 9 of the International Covenant on Civil and Political Rights (ICCPR). Physical abuse of criminal suspects in custody allegedly causes serious injury or death of inmates. Lengthy trial delays at the start and conclusion of trails and failure to effectively investigate, discipline, and prosecute those responsible for killings contribute towards a culture of impunity.

Last October the Senate of Pakistan passed a Torture and Custodial Death Act. The Act which, for the first time, criminalizes torture by a public official or person working in an official capacity, but is of less use. The use of torture and other ill-treatment remains a routine.

The Constitution of Pakistan establishes safeguards concerning apprehension and confinement in Article 10.

It states, “(1) No individual who is apprehended shall be

Could the State of Pakistan, if it so choose, deprive its inhabitants of their fundamental rights? The concept of fundamental human rights is such that even if the State wanted to, it cannot take them back. Access to justice is one of the basic rights held in custody without being promptly informed of the reasons for such apprehension, nor shall they be denied the opportunity to seek counsel and be represented by a legal professional of their choosing. (2) Every person who is apprehended and detained in custody must be presented before a judge within a timeframe of twenty-four hours from said apprehension ... and no individual shall remain in custody beyond this period without the authorization of a judge.”

The domestic legislation does not include provisions for an autonomous mechanism to oversee the

conditions within prisons, thereby making it difficult to assess compliance with the ICCPR and the UN Standard Minimum Rules for the Treatment of Prisoners (the Nelson Mandela Rules). Many inmates enter the correctional system with preexisting mental ailments, which worsen during confinement. Pakistani law mandates that all detainees are brought before a court within 24 hours, aligning with the International Covenant on Civil and Political Rights, to which Pakistan is a signatory.

The Pakistani authorities must cease their arbitrary arrests of political opposition activists and peaceful demonstrators. Any individual engaged in acts of violence should be appropriately charged, and their due process rights should be respected and upheld, considering the fundamental guarantees enshrined in the Constitution.

The Code of Criminal Procedure, 1898, elaborates on these safeguards in more comprehensive terms. According to its provisions, a judge determines whether a detainee should be remanded to police custody, which may last for a maximum of 15 days. Once the police conclude their investigation and submit a police report, a detainee may either be remanded to judicial custody or released.

Could the State of Pakistan, if it so choose, deprive its inhabitants of their fundamental rights? The concept of fundamental human rights is such that even if the State wanted to, it cannot take them back. Access to justice is one of the basic rights.

Palestine will not die The barbarians are back Israel has squired journalists around southern Israel to encourage them to report on what it wants them to see. Western media persist in their lopsided coverage in favor of Israel. And why? Is it because we are not white? Are we a less important community? Western media outlets portray Israel as the victim and Palestinians as terrorists

I

ELECTRONIC INTIFADA

mohammed abu Shamala

have been forced to leave my home in alRimal, a neighborhood of Gaza City. In recent days, I have been close enough to Israeli airstrikes and artillery bombardments to experience a profound sense of terror. This is followed by sorrow and grief for the lives lost.

To see Palestinians living in such dire conditions, and to see our homes reduced to rubble, has left a permanent mark on my soul. What will never be erased from my memory is the feeling of insecurity and the helplessness of not being able to assist those who are suffering.

Yet, even at this bleak moment, as Israel amasses its apartheid forces against us with the help of the United States, we are still obliged to seek peace, justice and freedom.

For over 16 years, Israel has subjected the Gaza Strip to a suffocating blockade, resulting in severe shortages of food, medicine and clean water. Though this collective punishment of Palestinians in Gaza has been ongoing, Yoav Gallant, Israel’s defense minister, stated amid the latest Israeli attack that “we are imposing a complete siege on [Gaza]. No electricity, no food, no water, no fuel – everything is closed.”

“We are fighting human animals, and we act accordingly,” he said. This language is distressing, abhorrent, and it embodies the racism of the Israeli occupation. It also inflicts this harsh reality upon us: All families suffer, and will continue to suffer, under this siege. We see it clearly in Israel’s assault on Gaza’s healthcare system. Israel has targeted ambulances and medical facilities, jeopardizing the treatment of the sick and injured. The fundamental right to healthcare has been violated by Israel with impunity.

LOPSIDED COVERAGE: Who will report on this? Israel is not allowing foreign journalists into Gaza to cover the war, as it knows that it is committing horrors here. All the media outlets that have been denied entry to Gaza should share this information with their audiences. They should spell out how they are not able to fully and properly report on the situation in Gaza.

Meanwhile, Israel has squired journalists around southern Israel to encourage them to report on what it wants them to see. Western media persist in their lopsided coverage in favor of Israel. And why? Is it because we are not white?

Are we a less important community? Western media outlets portray Israel as the victim and Palestinians as terrorists.

The media have so obscured reality that they cannot even report accurately on why Palestinians are fighting Israel. They justify Israeli war crimes against Palestinians as self-defense, yet they ignore that the Israeli occupation has continued for 75 years. The media inaccurately give the impression that we are fighting Israel because we have something against Jews. This is not true. We would fight any colonial power subjugating us, just as Black South Africans did under apartheid.

These truths are repeatedly obscured, and as

It is the Palestinians, not the Israelis, who have faced an existential threat for 75 years and counting

communication networks in Gaza shut down, Palestinian voices will only be further silenced.

How, then, will we share our stories?

“WILL WE DIE?” Since Israel’s latest attack began, I have seen my 3-year-old cousin and his family forced to leave their home in Gaza due to the threat of Israeli forces demolishing it right over their heads. This child covered his ears with his tiny hands, repeating these words in a hushed tone, “Missile. We will die. The sound is loud.”

I was reduced to tears. I embraced him and assured him that we would be okay. Then, fearful, he asked me, “Will we die?”

This question struck me like a lightning bolt.

I responded with confidence and hope: “We, as Palestinians, will not die.” In that moment I saw the strength and determination of children to confront adversity, even in the face of such hardship, even though they should not ever be asked to do so. Gaza’s children have borne the brunt of this latest attack, and those who survive will have to live in its aftermath. Schools and playgrounds are targets. Young minds will be scarred by the trauma of war. We are battered year in and year out, yet we are told we are at fault. I have seen a 5-year-old boy from our neighborhood collapse as he cried and screamed. I approached the father, and he told me that his son Samir had seen the Israeli rockets dropping nearby. Since then, Samir had been erupting into tears and repeating, “I don’t want to die.”

CALL FOR JUSTICE: This is what the occupation, siege and Israeli violence have done to us and to our children. And so it goes from one generation to the next, because the United States favors Israeli apartheid and Palestinian dispossession over a just political solution. And the current US president has shown his willingness to abet our dispossession, support Israeli aggression and Israel’s inherently racist state ideology Zionism.

In June 1986, Joe Biden, then a US senator for Delaware, stated, “It’s about time we stop … apologizing for our support for Israel. There’s no apology to be made. None. … Were there not an Israel, the United States of America would have to invent an Israel to protect her interests in the region.”

Additionally, in March 2016, Biden stated, “Were I a Jew, I would be a Zionist.” He then noted, with a smirk, that his father informed him he didn’t need to be Jewish to be a Zionist. Yet, in the heart of this conflict, amid the dehumanizing language, the people of Gaza hold on to their resilience and hope. Currently, we are suffering from a severe shortage of food, and drinking water is in short supply.

Our available food supplies, and even our reserves, are running low. As for the Israeli government’s attempt to expel Palestinians to Egypt, I believe it is Israel’s intention to empty the Palestinian homeland. Our struggle for freedom persists.

Mohammed Abu Shamala grew up in Khan Younis refugee camp, Gaza. His family is from Beit Daras, where villagers were displaced by Zionist forces in 1948.

The writer is a lawyer based in Lahore

O

MIDDLE EAST MONITOR dr Salman abu Sitta

N 27 November, 1095, almost one thousand years ago, Pope Urban II exhorted European kings, princes and dukes to drop their quarrels and wage a Crusader war to liberate the Holy Land from its mostly Muslim population. “Set out on the road to the Holy Sepulchre [in Jerusalem], take the land from that wicked people, and make it your own,” he told them.

They duly obeyed, and stayed for a couple of hundred years. Wherever they went, the sword was their tool and “infidel” blood was their language. When they entered Jerusalem, the blood of the slaughtered inhabitants is said to have come up to their knees. In Acre, when the friendly Christian inhabitants greeted them, the Crusaders thought they were Muslims because of their white robes, and butchered them.

Those Crusaders are long gone, but their bloody legacy is remembered. Indeed, their heirs and successors are still lusting for “infidel” blood in occupied Palestine; and Palestinian Christians are not spared their slaughter.

European leaders have fallen over each other to pay tribute to Zionist Israel and offer their weapons, aircraft and ships to allow the new Crusaders to satisfy their 21st Century bloodlust. The compliant Western media has been handed over on a plate to spread black propaganda, vilify and, especially, dehumanise the Palestinians defending their homes, making it more “acceptable” for their slaughter to continue unimpeded.

They arrived in droves. The UK’s Indian-heritage Prime Minister Rishi Sunak has carried out cynical PR visits to Jewish communities in England, and sent Foreign Minister James Cleverly to show support for the Zionists, sweeping under the carpet 300 years of British brutality in foreign lands, including the Amritsar massacre in India, of course, and the UK’s disgraceful betrayal of the people of Palestine from the 1917 Balfour Declaration onwards.

President Emmanuel Macron came from France, the former colonial power with the blood of one million Algerians on its hands.

The land of “Liberty, Fraternity, Equality” suffocated many of them with poison gas in caves, or threw them from helicopters into the sea. Those from Brussels arrived in our land drenched in the blood of millions of Africans as their colonial legacy. And from the Netherlands came the descendants of the Afrikaners who developed the abhorrent Apartheid system in South Africa which is now seen in colonial Israel.

We mustn’t forget the latecomer to colonialism, the United States of America. Its record is arguably the bloodiest of them all: 1.5 million Vietnamese killed; 1m Iraqis; tens of thousands of Afghans; the list goes on. The Crusader US has sent an aircraft carrier naval strike group to our shores and is flying weapons and phosphorus bombs to re-

plenish the stocks of its proxy, Israel. All of this is because 1,500 young refugees in a Gaza concentration camp last week dared to break out of their prison, attack the settlercolonial squatters on their land and try to return home.

US Secretary of State Antony Blinken has proclaimed proudly that he is a Jew whose grandfather escaped death in Europe’s Nazi concentration camps. He failed to explain why he is not fighting the far-right extremists in Israel today, the political heirs of those who killed millions of Jews and tried to kill his grandfather. Or why he is gathering the US to attack innocent people who never saw his grandfather. Or why he is instead supporting the people bombing and killing those innocent people as, no doubt, his grandfather was innocent. It is an act of cowardice to side with the aggressors and turn against largely unarmed civilians and butcher them.

And the Zionists have an appalling record of butchering the Palestinians and others. They committed 356 war crimes, including 90 massacres, in 1948-1949 alone, after the creation of their state, Israel. They went on to depopulate 560 Palestinian towns and villages and wipe them from the face of the earth. It is the Palestinians, not the Israelis, who have faced an existential threat for 75 years and counting. Israeli aggression has never stopped; it is ongoing after 27,000 days, during which the conscience of European “civilisation” has been in a deep coma.

The new Crusaders, including the US, have waged a black propaganda war against refugees, who tried to rise from the concentration camp and return home, as is their right under international law. They spread the despicable lie that the resistance fighters “beheaded” babies and raped women. They retracted the claims, but the damage was done.

Palestinians are seen to be inhuman and thus deserve to be killed. Gullible, ignorant people accept this and turn a blind eye. Reasonable people don’t; they continue to seek justice for the Palestinians.

The irony of this propaganda is that this is precisely what the Zionist terrorists did on 13 May 1948. They attacked the village of Abu Shusha, in Ramleh district, and killed many Palestinians in their homes, in the streets and in the fields. One soldier held a woman with her child in one corner and split the child’s head with an axe. “Go and tell the others what happened,” he told her. Rapes by Zionists are recorded in their own books, including those written by pro-Israel historian Benny Morris.

Israel created 17 concentration and forced labour camps in Palestine in 1948-1953 in which captured farmers were held and put to work as slave labour. That was only three years after such camps were closed in Germany.

The evidence for this can be found in the archives of the International Committee of the Red Cross and the testimony of survivors.

The Gaza concentration camp has exceeded in duration and size those of Auschwitz, Treblinka and Dachau before they were liberated. Gaza’s population is 2.3 million people, at a density of 7,000 people/km2 in 1.3 per cent of Palestine. They were largely expelled from 247 villages in southern Palestine by the Zionist settlers.

The colonial-settlers now living on their land are fewer in number than the Palestinians concentrated in Rafah camp in Gaza. The Palestinians are not yet liberated. On the contrary, they are now being attacked by the very same forces that liberated Europe’s concentration camps after World War Two. The banning of pro-Palestine demonstrations in Europe and the US, and criminalising the struggle for justice for the Palestinians and their legitimate right of return is evidence that the bloody Crusader legacy is very much alive in Zionist Israel.

However, even after three generations, the Palestinians have not forgotten where their homes are and are still determined to return to them. It is they who will chart the future, because there is a basic rule not comprehended by the Crusader Zionists: you cannot defeat the human struggle for freedom.

06 NEWS

XI SALUTES PARTICIPANTS, BUILDERS INVOLVED IN BELT & ROAD COOPERATION

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Wednesday, 18 October, 2023 | KARACHI

BEIJING

MiAn AbrAr

HINESE President Xi Jinping on Tuesday called for saluting all the participants and builders involved in the Belt and Road cooperation.

He made the remarks at a welcome banquet hosted for guests attending the third Belt and Road Forum for International Cooperation.

Over the past 10 years since the Belt and Road Initiative (BRI) was launched, China and BRI partners have worked together to uphold the Silk Road spirit, contribute to global connectivity, build platforms for international economic cooperation, and add momentum to world economic growth, Xi noted.

The BRI has delivered thousands of practical cooperation projects, and achieved solid and substantial results, Xi said, adding that the achievements of the Belt and Road cooperation are neither a windfall nor made with others’ alms-giving and charity, but are earned by governments, enterprises and the people of participating countries with their diligence, wisdom and courage.

“The Belt and Road cooperation pursues development, aims at mutual benefits, and conveys a message of hope,” said Xi, noting

that the historical trend of peace, development and win-win cooperation is unstoppable, and people’s longing for a better life as well as the aspiration of all countries for common development and prosperity is irresistible.

The Belt and Road cooperation is in its prime after a vigorous decade and is heading toward the next golden decade, Xi said, stressing the need to keep an enterprising spirit.

The Chinese president vowed that the high-quality Belt and Road cooperation will create a brighter future for humanity with the concerted efforts of all participating countries. Chinese President Xi Jinping met with world leaders who came for the third Belt and Road Forum for International Cooperation (BRF) in Beijing on Tuesday, and more and more heads of state, government leaders and officials, as well as leaders of international organizations have arrived in China’s capital city, making the BRF the most attractive and anticipated international event at the moment.

Chinese analysts said that by actively participating in the China-proposed Belt and Road Initiative (BRI), members of international community are giving their vote of confidence to China’s economic strength, political influence and credibility to guide

global recovery and help the world to overcome its challenges.

On Tuesday, Xi met with leaders including Indonesian President Joko Widodo, Kazakh President Kassym-Jomart Tokayev, Hungarian Prime Minister Viktor Orban, Chilean President Gabriel Boric, Serbian President Aleksandar Vucic, Uzbek President Shavkat Mirziyoyev, Ethiopian Prime Minister Abiy Ahmed and Papua New Guinean Prime Minister James Marape.

And on the same day, more and more leaders from different countries and international organizations arrived, including Russian President Vladimir Putin, UN Secretary-General António Guterres, Argentine President Alberto Fernandez, Vietnamese President Vo Van Thuong, President of Mongolia Ukhnaa Khurelsukh and Prime Minister of Mozambique Adriano Maleiane.

Leaders of other countries including Pakistan’s Prime Minister Anwar-ul-Haq Kakar, Thai Prime Minister Srettha Thavisin, Kenyan President William Ruto, Cambodian Prime Minister Hun Manet, Lao President Thongloun Sisoulith, Sri Lankan President Ranil Wickremesinghe and President of the Republic of the Congo Denis Sassou Nguesso have arrived, and some of them had meetings with Chinese leaders.

Apart from incumbent leaders, many

former leaders and non-governmental figures also came for the BRF this year, including a delegation of French experts on the BRI who also arrived in Beijing and met with Chinese senior officials.

Li Haidong, a professor at the China Foreign Affairs University, told the Global Times on Tuesday that the active participation of the international community makes the BRF a spectacular event, and this just proves that China is a major power with significant international influence which is also well-respected around the globe. The BRI is a popular public good that China has contributed to the world, and the initiative has now become even more important and influential, he added.

During the talks with the Chinese president, the foreign leaders all mentioned the

Ice-cream truck being used as mortuary as bodies pile up in Gaza

Iran’s Khamenei says Israel must halt assault on Palestinians in Gaza DUBAI

Agencies

Iran’s Supreme Leader Ayatollah Ali Khamenei has described Israel’s assault on Gaza as a genocide of Palestinians and said it must stop immediately, state TV reported on Tuesday.

A senior commander of Iran’s Revolutionary Guards (IRGC) also warned of further action by Tehran-backed militant groups against Israel if it did not cease its attacks. Israel has bombarded the Palestinian territory of Gaza with air strikes since Hamas fighters burst into Israel from the enclave on Oct. 7 and killed 1,300 people, most of them civilians.

It has vowed to annihilate the Tehran-backed Hamas, which rules Gaza.

But the Israeli retaliatory strikes have killed more than 2,800 Palestinians, a quarter of them children, and driven around half of the 2.3 million Gazans from their homes. Israel has also imposed a total blockade on the enclave, preventing food, fuel and medical supplies

from getting in.

“No one can confront Muslims and the resistance forces if the Zionist regime’s (Israel) crimes against Palestinians continue. The bombardment of Gaza must stop immediately,” Khamenei told a group of students in Tehran.

“The world is witnessing the Zionist regime’s genocide of Palestinians in Gaza,” he said to chants of “Death to Israel”.

Backing the Palestinian cause has been a pillar of the Islamic Republic since the 1979 revolution as the Shia-dominated country has sought to portray itself as a leader of the Muslim world.

Israel, which Tehran refuses to recognise, has long accused Iran’s clerical rulers of stoking violence by supplying arms to Hamas. Tehran says it gives moral and financial support to the group.

“We must respond, we must react to what is happening in Gaza,” Khamenei said.

Israeli officials should face trial for their actions against the Palestinians in Gaza, he added.

GAZA STRIP Agencies

Separately, the Revolutionary Guards deputy commander-in-chief, Ali Fadavi, warned of more attacks by militants if Israel did not stop what he called its atrocities in Gaza, the Fars news agency reported.

“The resistance front’s shocks against the Zionist regime will continue until this ‘cancerous tumour’ is eradicated from the world map,” Fadavi said.

Iranian President Ebrahim Raisi said on Monday that supporting the Palestinians was Iran’s foreign policy priority but the militant groups make their own independent decisions.

Chinese, Mongolian foreign ministers meet ahead of 3rd BRF BEIJING

stAff correspondent

China is willing to work with Mongolia to adhere to mutual trust, mutual respect and mutual support, and push bilateral relations to a new level, said Chinese Foreign Minister Wang Yi Monday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while meeting with his Mongolian counterpart Batmunkh Battsetseg.

Under the strategic guidance of the two heads of state, China-Mongolia relations have maintained a sound momentum of development, Wang said.

Mongolia is one of the first countries to participate in the Belt and Road Initiative. China is willing to strengthen development strategies alignment with Mongolia so that mutually beneficial cooperation can benefit the two peoples

more, contribute to regional development and stability, and promote the building of a global community of shared future, he noted.

Chinese Foreign Minister Wang Yi, who is also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Mongolian Foreign Minister Batmunkh Battsetseg in Beijing, capital of China, October 16, 2023. /Xinhua. Chinese Foreign Minister Wang Yi, who is also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Mongolian Foreign Minister Batmunkh Battsetseg in Beijing, capital of China, October 16, 2023. /Xinhua Battsetseg said Mongolia attaches great importance to developing the comprehensive strategic partnership with China, abides by the one-China principle and firmly supports China in safeguarding its core interests.

achievements that they had created with China under the framework of the BRI in the past decade, and they all appreciated China’s contribution and help to their countries’ development, reported the Xinhua News Agency. They expressed confidence and firm support to China and the China-proposed BRI, and hoped that the initiative can bring changes to the world and benefit more people.

They also opposed the act of “decoupling” and the so-called de-risking that aims at containing China and serving hegemonic purpose, and some of them who are deeply concerned about the ongoing hotspot issues like the Ukraine crisis and the PalestinianIsraeli conflict also vowed to maintain communication and coordination with China to promote political settlement and mediation.

Mongolia looks forward to strengthening high-level exchanges and expanding cooperation with China in various fields, he said, noting that Mongolia is willing to start preparations for the celebration of the 75th anniversary of the establishment of diplomatic ties at an early date.

Mongolian President Ukhnaa

Khurelsukh will attend the third Belt and Road Forum for International Cooperation, Battsetseg said, expressing his hope to deepen cooperation with all parties involved and boost shared development and prosperity.

BELT & ROAD CEO MOOT CONCLUDES WITH MORE BUSINESS DEALS INKED The Belt and Road CEO Conference concluded on Tuesday with a rise in scale and number of cooperation deals signed compared to the previous iteration of the forum, while a declaration on enhancing business connectivity and global cooperation was issued.

A significant number of cooperation projects, involving nearly 300 Chinese and international partners, were inked during the conference, according to organizers. They encompass various industries, including infrastructure, clean energy, artificial intelligence, biopharmaceuticals, financial services, modern agriculture and rail transportation. The number of projects, the countries involved and the total value of deals significantly surpassed the previous forum, which was held in Beijing in 2019, Yu Jianlong, vice chairman of the China Council for the Promotion of International Trade, one of the organizers of the CEO Conference, told media.

As Gaza’s hospital morgues overflow with victims killed in Israel’s bombardment triggered by a deadly Hamas attack, even an ice-cream truck has been used to hold corpses before their burial. Gaza interior ministry said on Tuesday that at least 49 Palestinians were killed in overnight Israeli strikes on homes in Khan Younis and Rafah. On the other hand, Israel’s military said it killed four people who had tried to cross the fence bordering Lebanon and plant an explosive device. Israel has been pounding Gaza targets for days, seeking to wipe out the enclave’s rulers Hamas after its militants broke through the militarised border barrier on October 7 to kill more than 1,400 people in southern Israel. Israel’s air strikes have claimed more than 2,800 lives in Gaza, where mortuaries with capacity only for dozens are filling up more quickly than relatives can claim them.

Among them are multiple members of Talaat Abu Lashine’s family. “Two shells fell on the house at dawn. Sixteen people were at home, including eight children who were sleeping peacefully,” he said. In Gaza City a little further north, from where tens of thousands of inhabitants have heeded Israel’s warning to flee south ahead of an expected ground invasion, many bodies were simply left behind in the mortuaries. “Given the large number of martyrs lying unclaimed in the morgue of al-Shifa hospital, the deterioration of the corpses and the continued arrival” of dozens more, “a common grave has been prepared to bury around 100” of them, said Salama Maruf, head of the media bureau for the Hamas government that runs Gaza. Even body bags are now in short supply, said Philippe Lazzarini, the head of the UN agency for Palestinian refugees (UNRWA). “Every story coming out of Gaza is about survival, despair and loss,” he said. “Sometimes we don’t even time to write the names” of the deceased, because there are just too many of them, said Ihsan al-Natour, who works at a cemetery in southern Gaza’s Rafah.

“There are lots of children among the martyrs,” he said, adding that “we are burying three or four in each grave.” Gaza’s ministry of religious affairs has recommended using common graves because of the large numbers of deaths and a shortage of burial space, as Muslim funeral rites also require burials to take place as quickly as possible.

Canadian PM announces $10m aid for Gaza

OTTAWA

Agencies

PID (I) 2354/23

The Canadian Prime Minister Justin Trudeau on Tuesday called for a humanitarian corridor to be opened and announced $10 million in humanitarian assistance for urgent needs in Gaza. Trudeau made his remarks after diplomatic efforts failed to get aid to Gaza. He said, “Israel, reacting to an attack by Hamas last week that killed more than 1,300 people, has put Gaza under a total blockade and pounded it with unprecedented air strikes.” The Canadian PM demanded an immediate humanitarian corridor in Gaza, stating, “Canada is calling for unobstructed humanitarian access and a humanitarian corridor so that the essential aid like food, fuel, and water can be delivered to civilians in Gaza.” “We are deeply concerned about the serious and worsening humanitarian crisis in Gaza, Unhindered humanitarian access to Gaza should be allowed,” He stated. On the other hand, Justin Trudeau stated that Israel has the right to defend itself in accordance with international law, however, “even war have rules”, he told the House of Commons lower chamber of parliament.

Wednesday, 18 October, 2023 | KARACHI

CORPORATE CORNER Another 130 illegel gas connections disconnected in Psunjab, KP and Islamabad

LAHORE: During the ongoing crackdown against gas pilferers, SnGPL continued raids in Punjab, Khyber Pakhtunkhwa and islamabad, disconnecting another 130 connections while imposing fine of Rs.4.07 million and 490 under billing cases processed in Lahore, the regional team disconnected 08 connections on illegal use of gas, another 04 connections on the use of compressor. The team also booked Rs.0.19 million against gas theft. in Bahawalpur, the regional team disconnected 04 connections on the use of compressor and 20 under billing cases processed. The company disconnected 23 connections on illegal use of gas, another 04 connections on the use of compressor and 362 under billing cases have been processed in Multan and amount of Rs 1.87 Million have been booked against gas theft and Under billing cases. PR

Alibaba.com highlights value of online export at Textile Asia Trade Fair

LAHORE: alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, has concluded its successful participation in the 25th edition of the Textile asia international Trade Fair in South asia. held at the Lahore Expo Centre from 13 to 15 October, this much anticipated event brought together textile industry experts and businesses from around the world, all converging in Pakistan to delve into the latest trends, challenges and opportunities within the textile sector.During the course of three days, the trade fair attracted an impressive 35,000 attendees and over 450 exhibitors. The alibaba.com booth, being one of the highlights at the event, drew in more than 500 visitors who interacted with the alibaba.com experts present on-site and gained insights into the transformative impact of B2B ecommerce on conventional global trade practices.

They also explored the extensive range of opportunities and tools available from alibaba.com which can strengthen their export ventures. Engaging in interactive activities, visitors also competed for enticing prizes, including coupons for complimentary e-commerce training provided by alibaba.com. PR

BankIslami, IBA Karachi empower youth with BankIslami ‘Umeed Digital Certifications Program’

KARACHI: Building upon their commitment to youth empowerment and economic growth, Bankislami, Pakistan's premier islamic bank, is pleased to announce the successful orientation that took place at iBa Karachi for the Bankislami Umeed Digital Certifications Program. The Bankislami Umeed Digital Certifications Program orientation provided participants with a comprehensive overview of the program's objectives, curriculum, and the exciting opportunities that lie ahead.This event marks an important milestone in the initiative to empower Pakistan's youth with essential digital skills. Fully funded by Bankislami, the program shows the bank's unwavering commitment to investing in Pakistan's future leaders. PR

sunridge expands horizon with three new stores offering wholesome blend of bakery and grocery products

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PROFIT

REUTERS

hina has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, as part of Beijing’s efforts to reduce debt risks in a faltering economy.

Debt-laden municipalities represent a major risk to the world’s secondlargest economy and its financial stability, economists say, amid a deepening property crisis, years of over-investment in infrastructure and huge bills to contain the COViD-19 pandemic.

Local government debt reached 92 trillion yuan ($12.58 trillion), or 76% of the country’s economic output in 2022, up from 62.2% in 2019.

Part of that is debt issued by local government financing vehicles (LGFVs), which cities use to raise money for infrastructure projects, often at the urging of the central government when it needs to boost economic growth.

Empty coffers could make it harder for Beijing to kickstart a sputtering economic recovery.

The People’s Bank of China (PBOC) issued orders last week to major state lenders to extend terms, adjust repayment plans, and reduce interest rates on outstanding loans to LGFVs, according to the sources.

Loans that were due in 2024 or before will be categorized as “normal” instead of non-performing if they overdue, and that won’t affect banks’ performance evaluations, one of the sources said. Reuters is reporting these measures for banks to defuse local debt risks for the first time.

The sources didn’t specify how much of debt will be restructured.

To ensure banks do not incur heavy losses from the debt restructuring, interest rates on rolled over loans should not be below China’s Treasury bond rates, said one source, adding that loan terms should not exceed 10 years. China’s benchmark 10-year government bond is now yielding around 2.7%, while the benchmark oneyear loan prime rate is 3.45%.

The two sources declined to be identified as the policies were confidential.

“The borrowing costs of LGFVs’ loans are usually about 4%, and in some regions and cases the costs could be even higher at about 5% to 8%,” said a banker, who declined to be identified as he is not authorized to speak to media. “a large-scale loan extension and interest rate reduction will deal a heavy blow to banks’ operations,” he said.

Despite the mounting local fiscal mess, China’s central government has taken a cautious stance on resolving the debt issues to avoid risks of moral hazard: investors could be encouraged to take even greater risks if they assume Beijing will always come to the rescue

of local governments or state companies.

China’s deepening property crisis has added to the pressure on municipalities, with developers in no shape to buy more land, traditionally a key source of local revenue. Since the sector’s debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private developers.

The People’s Bank of China (PBOC) and the national Financial Regulatory administration didn’t immediately reply to Reuters’ request for comments.

MAJOR RISKS China’s Politburo, a top decision-making body of the ruling Communist Party, said in late July said it would announce a basket of measures to reduce local government debt risks, but no detailed plans have been officially unveiled yet.

Gradually paying off total local government debt over 20 years would require annual payments of 6.5 trillion yuan, analysts at anZ Research said in a note last week. That’s larger than China’s estimated annual nominal GDP growth over the next decade, they said.

The central bank said it will prioritize resolving debt risks in 12 regions identified as “high risk”, including Tianjin city, Guizhou province and Guangxi province, with a focus on open market bonds and non-standard debt products due this year and next year, the sources said.

Banks are being encouraged to issue new loans to LGFVs to repay bonds and

Govt working on citizen centric police reforms

CDA auctions four plots for Rs7.743b

ISLAMABAD: Dr. Ehsan Sadiq said that national Police Bureau is restless working on developing and introducing citizen centric police reforms to bridge the trust deficit between police and the community, while chairing the meeting of Senior Police leadership from all the provinces to review the status of implementation of the recommendations of the Police Reforms Committee. The said committee was notified by the orders of Supreme Court of Pakistan. in meeting, additional reforms which can improve police performance in key functional areas of policing were discussed.addressing the participants of the meeting, Dr. Ehsan Sadiq, DG nPB highlighted the fact that a number of legal and policy reforms have already been introduced along with enhanced budgetary allocations in the provinces, therefore additional reforms are required. PR

ISLAMABAD: Capital Development authority (CDa) on the first day of the auction of plots auctioned four (04) plots for Rs 7.743 billion rupees.

The first day of the auction was attended by a large number of investors and healthy competition was witnessed . On the first day of the auction, 4 plots were sold for 7.743 billion rupees. The four-days auction of plots will continue till October 20 at the Jinnah Convention Centre. according to the details, on the first day of auction of residential and commercial plots, plot # 53F masuring 666.67 square yards 666.67 square yards located in i-8 Markaz was auctioned for one billion 42 lacs. Similarly, Plot no. 53D measuring 666.67 square yards located in i-8 Markaz was auctioned for one billion and nine crore rupees.

Similarly, Plot no. 28 of 711.11 square yards located in G-11 Markaz was auctioned for Rs.1.16 billion.

Plot number 8 of 2666.66 square yards of blue area was auctioned for 4.45 billion rupees. PR

ex-Chief of Naval staff conferred with honorary award ‘Order for Valour & Gallantry’ by King of Malaysia

ISLAMABAD: Pakistan navy’s former Chief of the naval Staff, admiral Muhammad amjad Khan niazi has been conferred with “honorary award of Malaysian armed Forces Order for Valour (First Degree) - Gallant Commander of Malaysian armed Forces (Panglima Gagah angkatan Tentera)”. The award was conferred by the Malaysian King abdullah of Pahang at an impressive investiture ceremony held at Kuala Lumpur, Malaysia. The award has been bestowed in recognition of untiring efforts and dedication of admiral Muhammad amjad Khan niazi to strengthen bilateral relationship and mutual cooperation between the armed Forces of Pakistan and Malaysia. PR

PTCL Group posts double digit revenue growth of 26.3%

KARACHI: Sunridge Mart, a retail extension of Sunridge Foods has announced the grand opening of three new stores, strategically located to cater to the growing demands of customers. These three new outlets, all in prime locations of Karachi including Chartered accountant avenue Clifton, Dhorajee, and Badar Commercial Phase 6 in Dha, are aimed to provide an exceptional shopping experience that combines delicious bakery products made with the finest Sunridge products and ingredients, along with a wide range of grocery products.The concept of Sunridge Mart serves as a commitment to promoting healthier lifestyles. as part of its pledge to nutrition, Sunridge is introducing a delectable range of fiber-rich products that will not only entice taste buds but also contribute to a healthy wellbeing overall for customers. With an emphasis on nutritious and fiber-fit offerings, the company aims to empower customers to make healthier choices and embrace a lifestyle that champions wellness.

Furthermore, the expansion of Sunridge Foods into Sunridge Mart has resulted in the creation of both

07

ExclusivE: china tElls banks to roll ovEr local govErnmEnt dEbts as risks mount – sourcEs NEWS

ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), the leading telecom and iCT services providers in the country, has announced financial results for the nine months ended September 30, 2023. The announcement was made during the Board of Directors' meeting held in Dubai on October 17, 2023. in the first nine months of 2023, PTCL Group has maintained its strong performance, strengthening its status as Pakistan's top integrated telecom service provider. Despite the challenging economic environment, the Group has achieved an impressive 26.3% increase in revenue compared to the same period last year. This substantial growth can be mainly attributed to outstanding performance in various sectors, including fixed broadband, mobile data, business solutions, and mobile banking services.

The business environment in 2023 remains affected by the unfavorable macroeconomic challenges that emerged in 2022. increasing energy and fuel costs persist as hurdles for telecom companies, making it challenging to offer top-notch services to consumers at reasonable rates. PR

IesCO operations circles conduct e-court via facebook live, telephonically today

To provide suitable and proper forum to valuable iESCO Customers regarding redrassal of their electricity issues, online E-Kacharies are being held in iESCO region regularly and same are creating friendly relationship among iESCO and Customers.

By following same practice facebook E-Kacharies will held on 18th October, 2023 (Wednesday) From 09:30 aM to 11:30 aM in all 06 Operational Circles of iESCO. Operational Circles incharge will attend customers complaints through Facebook live and telephone calls. islamabad Circle customers can participates in facebook live E-Kachary by using face book iD SE iESCO islamabad E-Kachery Phone no. 051-9260194, For Rawalpindi City Circle, SE iESCO Rawalpindi-City E-Kachery Phone no. 0519292675, For Rawalpindi Cantt Circle, SE iESCO Rawalpindi-Cantt E-Kachery Phone no. 0519293048, For attock Circle, SE iESCO attock E-Kachery Phone no. 051-4950343, For Chakwal Circle, SE iESCO Chakwal E-Kachery Phone no.

0543-668500, For Jhelum Circle, SE iESCO Jhelum E-Kachery Phone no. 0544-9270377. Valuable customers are requested to mention their name, bill reference no, Contact no and complete address while launching the compliant. PR

AlfaMall hosts Merchant summit

KARACHI: Bank alfalah's pioneering eCommerce platform, alfaMall, hosted its first 'Merchant Summit' in Karachi and Lahore. The event was designed to celebrate the tireless efforts of its affiliate Brand partners. alfaMall is Pakistan's first banking e-Commerce platform and boasts an impressive roster of 100+ Brand merchants, offering over 100,000 SKUs. The platform's popular products include everything from bikes and mobiles to a diverse range of electronics, fashion apparel, and beauty brands from 15 dedicated labels for women.The 'Merchant Summit' highlighted alfaMall's exceptional offerings and celebrated its invaluable partnerships with top-performing brands and sellers. PR

non-standard debt, the sources said. and, Chinese investors are rushing to buy bonds of LGFVs, including from the riskiest issuers, as Beijing’s attempts to reduce local debt risks encourages them to bet on an implicit government guarantee.

DEBT PAYMENT CLIFF LGFVs face significant bond maturity pressure in 2023 and the first half of 2024, according to a research note by UBS. Over 2.1 trillion yuan LGFV bonds matured in the first half of 2023, and another 1.75 trillion yuan in the second half of this year and 1.69 trillion yuan in the first half of 2024, the highest maturity pressure in history, the note said. additionally, the PBOC will set up an emergency tool with banks to offer loans to LGFVs to solve any shortterm liquidity stress, the two sources said. LGFVs will need to repay the loans within two years, a second source said.

Financial news outlet Caixin first reported the central bank’s emergency liquidity tool in august. in the 12 high-risk regions, some local governments will need to pledge or transfer part of their stakes in local stateowned companies to banks in exchange for assistance from banks to roll over loans, the second source said.

Last year, a Chinese government financing unit in southwestern Guizhou province extended loans worth $2.3 billion by 20 years, which adjusted interest rates to between 3% and 4.5% per year.

TIKA establishes operating room at National Child Health Institute

KARACHI: The operating room established by the Turkish Cooperation and Coordination agency (TiKa) at the national Child health institute, Pakistan's largest and the only children's hospital in the Sindh Province and equipped with modern equipment was opened with the participation of the Sindh Government Minister of health Dr. Saad Khalid niaz and Turkish Republic ambassador to Pakistan Dr. Mehmet Paçacı.Speaking at the opening program, Minister of health Dr. niaz said Türkiye is the first country to help and support Pakistan in time of need. he thanked the Turkish Cooperation and Coordination agency-TİKastate-of-the-arte art OT for the children of Pakistan. in his speech, the ambassador of the Republic of Turkey to Pakistan, Dr. Mehmet Paçaci said the relationship between Türkiye and Pakistan is like con, Crete, and with Turkish institutes like TİKa, Yunus Emreothersother, this relation strengthened. PR

JazzCash, Total PARCO team up to set new benchmarks for convenience

JazzCash, Pakistan's leading fintech platform, has joined forces with Total PaRCO, a leading Oil Marketing Company, in a historic collaboration that promises to redefine convenience for people across Pakistan. This landmark partnership signifies one of the most significant alliances between fintech and the energy sector in recent years. Total PaRCO’s infini wallet users can now top-up their wallets using JazzCash as a payment gateway and unlock a wide range of services on the platform. Speaking at the signing ceremony, aamir aftab, Chief Product Officer JazzCash, said, “at the heart of this partnership is a commitment to driving digital financial inclusion by offering innovative solutions that simplify lives. JazzCash and Total PaRCO have taken a giant leap forward by opening up avenues of ease and convenience, a key milestone in creating accessibility through fintech.”. PR

FAs brings int’l standard education to Pakistan: Vice Provost, AKU

“Our students won’t search for jobs, but the job market will search them instead”, said aKU’s Vice Provost, Dr. anjum halai, during a media roundtable organized at the University to highlight the value and scope of the newly inaugurated Faculty of arts and Sciences (FaS). The FaS marks a commendable shift from aKU’s longstanding tradition of imparting only medical and nursing education, to becoming a fully comprehensive arts and Science University with a world-class education system.“Studying from the FaS’s collection of majors will ensure a ripe and productive job market for our students”, said the Dean of the FaS, Professor Stephen Lyon, who was also present at the roundtable. he emphasized on how the Faculty courses have been curated to ensure an impressive blend of interdisciplinary education across all four majors, including the asian and Middle Eastern Studies; human and Environmental Biology; Philosophy, Politics, and Economics; and Social Development Studies. PR

HOT ON KIA’S HEELS, MG IS REDUCING PRICES TOO. HERE’S WHAT’S HAPPENING NEWS

M

g

MG SLASHES PRICE OF HS BY RS6 LAKH, EXPECTING INDUSTRY TO FOLLOW SUIT PROFIT

DANIYAL AHMAD

G Motors has slashed the price of the MG HS by Rs 6 lakh, bringing the car’s price down from Rs 87 lakh to Rs 81 lakh. The company states that it has made the decision in order to pass on the foreign exchange benefit it has benefited from, on account of the Pakistani’s Rupee’s appreciation, to the customers.

This revised pricing will be applicable to all vehicles purchased from October 16 onwards. Why have they done this?

“MG has preemptively passed on the foreign exchange benefit to its customers,” states Syed Asif Ahmed, General Manager of Sales and Marketing at MG Motors. “Initially, we were primed to trail the path carved by the automotive industry’s leaders. However, our

vehicle being largely responsive to fluctuations in the value of the Rupee against the US Dollar.

Nonetheless, for the astute and patient buyer, it has been possible for a while now to acquire it at a lower price in the secondary market than the ex-factory price for which the company offers it. For anyone familiar with Pakistan’s automotive industry, these discounts, or off prices as they are commonly known, signify a car’s poor performance in terms of customer demand. A Rs 6 lakh price reduction can engender the perception that MG merely realigned the price of their vehicle with what customers perceive as its fair value.

“The HS isn’t trading at a markdown. The entire industry is. You can find vehicles in the second-hand market, their prices with discounts ranging from Rs 80,000 to a staggering Rs 20 lakh,” Ahmed elaborates with a hint of gravity.

leadership chose to take the reins and not indulge in a game of patience with the rest of the industry when it came to disseminating the foreign exchange gains,” Ahmed continues.

This decision trails closely behind Lucky Motors’ announcement of a reduction in their own prices just over a week and a half ago, a move also spurred by the Rupee’s strengthened position in the global market. However, it’s worth noting that MG stands apart from its counterpart in one crucial aspect — unlike Lucky Motors, MG never hiked their prices in the first place.

Beyond the headlines MG’s pricing strategy, akin to their Chinese peers and distinct from their non-Chinese rivals, has exhibited remarkable stability throughout the year.

The decision constitutes the fourth overall price revision that MG has undertaken this year, with the price of the

Ahmed’s remarks refer to the broader slump in the automotive industry. September’s sales, though superior to August’s figures, are a third of what they were in the same month last year. Moreover, total sales for the first quarter of fiscal year 2024 are almost half of what they were over the same period last year. It is here that Ahmed believes that foreign exchange gains should be transferred to the customer in order to revive the industry.

“Why are consumers refraining from buying vehicles, or analogous commodities? It’s because they’re bracing for foreign exchange recalibrations,” Ahmed postulates. “Channelling the benefits of currency appreciation to the consumer is the judicious trajectory for the automotive industry. It will invigorate consumer confidence, and we foresee others emulating this approach. However, anyone wishing to do so should execute it with alacrity” Ahmed continues.

Senate panel summons NTDC board PROFIT

STAFF REPORT

LHC chides Imran’s counsel over submitting papers with ‘forged signatures’ LAHORE

STAFF REPORT

The Lahore High Court (LHC) – once again – took a stern stance against the lawyers representing the Pakistan Tehreek-e-Insaf (PTI) chief on Tuesday for documents with “forged signatures” submitted to the court.

LHC’s division bench, led by Justice Aalia Neelum, also cast doubt on the commitment of former prime minister Imran Khan’s legal counsel. The court, therefore, declined the lawyer’s request to access police records to ascertain if Imran’s arrest had been documented.

Earlier this year in February, Justice Tariq Saleem Sheikh had called for Imran’s appearance to authenticate his signatures on three documents presented by his legal representatives, which were found to contain counterfeit signatures.

Justice Aalia presided over a civil miscellaneous application seeking early proceedings of a case in which PTI had challenged the dismissal of its chairman’s bail in seven cases registered against him in response to his arrest, including a case of the Jinnah House attack.

As the proceedings commenced, the judge questioned the conduct of the lawyer representing Imran. “Where is the lawyer?” she asked. Advocate Sikandar Zulqarnain informed the court that the lawyer was present in Islamabad to attend some proceedings and that he was also Imran’s lawyer in some cases.

“Where is your power of attorney?” the judge asked.

“Your signatures on the power of attorney are fake.”

“I have signed on three cases, while three of them were signed by my clerk,” advocate Sikandar told the court.

“When you people do not have time, then why do you file cases?” Justice Aalia remarked. “You should consider your seriousness when the case is filed by one person and pleaded by another.”

The lawyer argued that all relevant documents would be provided by the next date and requested the court to summon the case record to determine whether or not Imran’s arrest had been mentioned.

“This court will pass such an order when there is a lawyer before this court,” the judge remarked.

Subsequently, the court fixed October 25 as a deadline with the direction to come up with all relevant documents.

FAUX SIGNATURES: In February, Justice Sheikh noted a difference in the signatures of petitioner Imran when his protective bail in a case related to a protest outside the Election Commission of Pakistan (ECP) was filed.

He had criticized the PTI’s counsel for allegedly deceiving the court by submitting forged documents.

The signatures were forged on three documents (petition, affidavit, and power of attorney).

The judge had disclosed his intention to issue a contempt notice to either Imran or his counsel for deceiving the court. However, he summoned the PTI Chairman instead to verify the signatures on the said documents.

The PTI Chief stated that he had no knowledge of said petitions and tendered an apology.

Senate Standing Committee on Power has decided to summon the Board of National Transmission and Despatch Company (NTDC) in the next meeting to explain its position regarding a report and non-implementation of the committee’s recommendation.

On Tuesday, the Senate Standing Committee on Power met under the Chairmanship of Senator Saifullah Abro here at the Old PIPs Hall Parliament Lodges of the federal capital.

The Senate Committee took up the matter of implementation of committee’s recommendation to produce the recording of the Procurement Committee, NTDC in the case of mis-procurement of 765kV double circuit transmission line from Dasu Hydro Power Station to Islamabad. And, the ministry informed that the audio-recording of the Procurement Committee meeting could not be obtained as Chairman, Board NTDC has resigned and Members of the BoD, NTDC have advised Company Secretary, NTDC to take legal opinion on it.

It was further told that a report prepared by the Board, NTDC was also presented which stated that a few errors and discrepancies are found in the project, however, they are not enough to declare the entire tender process as a mis-procurement.

The Senate committee expressed reservations on the content of the report shared with the Committee which also questioned the authority of the Committee to pass directions to the Board.

The Committee members was of the view that derogatory language has been used by the Members of BoD, NTDC for the Members of the Senate Standing Committee on Power, which is a breach of privilege of the Committee.

The Committee unanimously decided that it has breached the privilege of the Committee, hence, matter please be submitted to Hon. Chairman Senate for referring the matter to Senate Committee on Rules of Procedure and Privileges.

The Committee also summoned the Board,

NTDC in the next meeting to explain its position regarding the report and non-implementation of the committee’s recommendation.

At the outset of the meeting Senator Bahramand Khan Tangi appreciated the role of the Ministry of Energy (Power Division) for recovery of Rs. 25 bn in electricity theft and illegal kunda connections. He further said that there are certain gaps and deficiencies which needs to be addressed. He said that electricity theft can be made more powerful if strategy plan against direct connections is made more powerful and with close correspondence with the local police.

Senator Bahramand Khan Tangi raised the issue of increased load shedding even after 100 pc recovery from the district Tangi.

The Power Division apprised the Committee that tomorrow the Mardan Model for “zero theft zero load shedding” is being inaugurated and invited the Members of the Committee to attend and take briefing on the new model.

Senator Tangi suggested Power Division to hold meetings with the local Police and the Judiciary for a strengthening collaboration in this regard.

While taking briefing by Managing Director (MD), NESPAK on ADB project ACSR Bunting Conductor LoT -II A, the Chairman Committee raised objection and said that in the previous meeting the committee recommended to share the entire correspondence of the project with NTDC & ADB, to which the Committee was apprised that a fire incident in September, 2017 took place and all files / record of EDB have been burnt to which the Committee expressed utter suspicion and recommended Power Division to constitute a Ministerial Committee and appoint an officer not less than DS level for further investigation of the project. The Committee recommended NESPAK to re-evaluate the tender process of ACSR Bunting Conductor and bring clarity within 2 weeks’ time.

The meeting was attended by senators Fida Muhammad, Dilawar Khan, Saifullah Sarwar Khan Nyazee, Haji Hidayatullah khan and Bahramanad Khan Tangi. Officials from the concerned departments were in attendance.

SC quashes FIR against private news channel director ISLAMABAD

STAFF REPORT

The Supreme Court quashed on Tuesday an FIR registered against the news director of a private media channel in connection with a sedition case against former prime minister’s aide Shahbaz Gill for allegedly inciting rebellion within state institutions.

The petitioner, Ammad Yousaf, was implicated in the case as “during the investigation, on the pretext that as director…he conspired with the main accused for the commission of the alleged offences,” by airing the interview, noted the apex court in its judgment.

The verdict, authored by Justice Jamal Khan Mandokhail, held that in order to protect and promote such rights, the state must exercise its power and authority in accordance with the Constitution of Pakistan.

“Print and electronic media are the means of receiving and

providing such information to and from the people. We have observed that upon exercise of such right, politically motivated FIRs are being registered for offences mentioned in Section 196 of the Code, mostly against politicians, political workers, media persons, and human rights activists, and in some cases against their family members as well.

“It is hard to believe that the chosen representatives of the people, political activists, right activists and media persons can indulge themselves in anti-State activities. The act of indulging its citizens in malicious and frivolous prosecution by the Government without any substance on the plea that the thoughts are anti-state, amounts to undermining the constitutional command and as such, depriving citizens from their fundamental rights of freedom of movement, assembly, speech, and right to information.

“Such misuse of authority creates a sense of fear and insecurity in the society, which results into hatred against the State’s institutions. When citizens are put in fear, they cannot perform their functions freely, which amounts to preventing them from contributing towards the society in accordance with the Constitution, law and as per their conscience.

“In such a hostile atmosphere, the media cannot also perform its functions freely, rather it will undermine the freedom of speech, expression, and access to information of the citizens, as guaranteed by the Constitution, resulting into mistrust in the institutions. A democratic Government is considered to be by the people, of the people and for the people.

“It must, therefore, develop an atmosphere of tolerance, to promote political and social justice; to create a habit of listening to healthy criticism, which is the beauty of democracy.

Wednesday, 18 October, 2023

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:25

1:30

4:15

Court reserves verdict on maintainability of reference against Dar 6:05

5:32

7:15

ISLAMABAD

STAFF REPORT

The Accountability Court (AC) of Islamabad on Tuesday reserved its verdict on the maintainability of a reference against former finance minister Ishaq Dar for having assets beyond known sources of income.

AC Judge Muhammad Bashir heard the case wherein National Accountability Bureau prosecutor and Ishaq Dar’s lawyer Qazi Misbah appeared before the court.

At the outset of hearing, Qazi Misbah argued that his client had been acquitted by the court in the reference as the prosecution could not provide proofs against him during the trial. The trial court had announced the verdict after the conclusion of arguments, he added.

The lawyer said that the court, in its order, observed that the investigation was not done in a proper way.

His client had disclosed everything in his tax returns submitted to the Election Commission of Pakistan (ECP), he said, adding the investigation officer had admitted that the Hajveri Trust Organization had no connection with his client. After hearing the arguments, the court reserved its verdict on the maintainability and adjourned the case till October 21.

PML-N leader offers ‘ticket to paradise’ for attending Nawaz’s homecoming rally LAHORE

NEWS DESK

Chaudhry Asadur Rehman, a Pakistan Muslim League-Nawaz (PML-N) leader, on Tuesday drawn public criticism for promising ‘heavenly ticket’ to those welcoming former prime minister Nawaz Sharif at the party’s forthcoming political rally at Minar-ePakistan scheduled for October 21. In a widely circulated video on social media, PML-N leader while addressing a corner meeting in Kamalia, can be heard telling his supporters that on October 21, “angels would be compiling a list of those who would go to Minar-e-Pakistan to welcome Nawaz Sharif”.

Ch Asadur Rehman is a former member of the National Assembly (MNA) from NA-954 Toba Tek Singh.

The PML-N supremo, set to return on October 21 after ending his almost four-year long exile in London, is slated to address a rally organised by his key party aides, who are mobilising people in various corner meetings ahead of the former premier’s return to the country.

In a bid to invite more people to join the rally, the PML-N leader was willing to extend the “clearance certificate” of direct entry into heaven without facing any “reckoning”. He also gave the clearance “certificate” to the participants of the corner meeting.

The PML-N leader also claimed to have made similar assertions in the presence of Nawaz. He recalled that he also stated before Nawaz that angels would compile a list of those who were gearing up to receive the former prime minister on his homecoming. However, he did not disclose what was the response of Nawaz when he made such assertions. It is pertinent to mention that the PML-N leader is also the candidate for the upcoming general elections. He is the brother of former judge Khalilur Rehman Ramde. Similarly, another PML-N leader attempted to attract more attendees to the Minare-Pakistan rally by offering motorcycles to party workers and promising biryani meals as incentives.

PTI ready to extend possible support for free, transparent polls: Shafqat ISLAMABAD

STAFF REPORT

Pakistan Tehreek-i-Insaf (PTI) central leader and former education minister Shafqat Mehmood said that the PTI was ready for providing all possible support and cooperation to the caretaker government in the light of the constitution to ensure holding free, fair and transparent general elections in the country.

He made this remarks while talking to the caretaker Information Minister Murtaza Solangi, who held a meeting with Shafqat Mehmood to discuss wide-range issues including ensuring holding free, fair and impartial polls, creating level playing fields for all political parties and national reconciliation and matters of mutual in detail.

The meeting took place at the residence Shafqat Mehmood on the request of the caretaker minister.

During the meeting, the PTI leader apprised the caretaker minister that PTI was not providing opportunities to carry out political activities; hence holding polls in such uneven circumstance would have no credibility and acceptance at the public level.

The PTI senior leader said that the PTI was not even allowed to conduct election campaigns in the light of the constitution and law, while other parties have all the freedom to hold rallies and processions across the country.

PM Kakar attends state banquet hosted by Chinese President Xi BEIJING

STAFF REPORT

Caretaker Prime Minister Anwaar-ul-Haq Kakar attended a state banquet hosted by Chinese President Xi Jinping in Beijing for the world leaders attending the “Third Belt and Road Forum (BRF) ” in China.

The premier is in Beijing yesterday to attend the BRF at the invitation of President Xi Jinping.

The prime minister was accompanied by the senior ministers of the federal Cabinet on the occasion, a press release issued by the Prime Minister’s Office stated.

Held at the iconic Great Hall of the Peoples, the state banquet was attended by the heads of the state/government of Russia, Kenya, Ethiopia, Mongolia, Hungary, Sri Lanka, Kazhakastan, Uzbekistan, Papua

New Guinea, Mozambique and Chile, among several other world leaders.

Chinese President Xi and first lady Madame Peng Liyuan welcomed PM Kakar at the event, where he also held informal interactions with the world leaders attending the event.

On the visit to China, PM Kakar is accompanied by a high-level delegation including members of the cabinet and senior government officials.

There, he will attend the opening ceremony of the BRF and address the high-level forum titled “Connectivity in an Open Global Economy” slated to be held on October 18.

The caretaker prime minister will also 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 the facets of

bilateral relations, with a particular focus on strengthening trade and economic cooperation between the two countries. They will exchange views on major regional and global developments. He will also meet with leading Chinese entrepreneurs and preside over an interactive roundtable on the China and Pakistan Economic Corridor (CPEC) to explore new avenues for strengthening trade and investment ties between Pakistan and China.

To further strengthen regional connectivity, trade, investment, and people-to-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.

PM VOWS TO ELEVATE TRANSFORMATIVE NATURE OF CPEC TO EVEN GREATER HEIGHTS: Caretaker Prime Minister Anwaarul Haq has expressed Pakistan’s

strong commitment to elevate the transformative nature of China-Pakistan Economic Corridor (CPEC) to make it a true game changer.

During an interactive session with a delegation of Chinese think tanks and scholars in Beijing, he said the next phase of the CPEC should seek a deeper integration of our economies with a focus on diversification and innovation. He said Pakistan aspires to learn from the Chinese model to build its industrial parks and Special Economic Zones.

Referring to the signing of CPEC framework agreement on industrial cooperation last year, Anwaarul Haq Kakar said we must now fully utilize this framework as an instrument for the mutual benefit of the two countries.

The Prime Minister invited the Chinese companies to invest in solar parks in Pakistan. He said Pakistan is already working to ramp up the share of renewables in its energy

mix to as much as sixty five percent by 2030.

The Prime Minister also stressed for further strengthening connectivity and linkages between China’s Xinjiang and Pakistan. He said this region’s greater integration into CPEC will strengthen the economic ties between Pakistan and China, ensuring efficient movement of goods, technologies and investments.

The Prime Minister termed skill development and vocational training programs as critical to ensuring the success of the CPEC. Anwaarul Haq Kakar said as CPEC continues to unfold, we are poised to unlock unprecedented opportunities that will shape our destiny and contribute to the regional prosperity. He said through CPEC and its extension to Afghanistan and other regional countries, we are seeking to create new drivers of growth that will accrue benefits for the wider region and beyond.

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