Epaper_23-10-25 ISB

DreAm of polio-free pAkistAN to be reAlizeD At every cost: pm In partnership with

Profit

Wednesday, 25 October, 2023 I 8 Rabi us Sani, 1445

VOWS WE WILL NEVER STEP BACK, MAY BE AN INCH, MAY BE A FOOT OR MAY BE A MILE

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ISLAMABAD

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DECLARES ANTI-VAXXERS, INTENTIONALLY OR UNINTENTIONALLY, PARTNERING WITH FORCES OF DARKNESS

STAFF REPORT

ARETAKER Prime Minister Anwaarul Haq Kakar on Tuesday said that the dream of polio-free Pakistan to be achieved at every cost and individuals propagating against polio vaccination would be dealt with sternly.

Addressing a ceremony organized in connection with the World Polio Day here, the prime minister said, “I can assure that we gonna have it. We will realise this dream. We will never step back, may be an inch, may be a foot or may be a mile. This will always be a forth-going journey.”

The event was organized by the Pakistan Polio Programme to pay homage to the resilience and dedication of frontline workers on World Polio Day which is commemorated on October 24 every year.

Caretaker Federal Health Minister Dr Nadeem Jan, Federal Health Secretary Iftikhar Ali Shallwani, representatives of polio partners Rotary, WHO and UNICEF, and frontline workers and their families attended the ceremony.

Premier Anwaarul Haq Kakar said by opposing the polio vaccine, the antivaxxers, intentionally or unintentionally, were partnering with the forces of darkness. He emphasized the role of faith leaders and the society to make such people realise that they were actually partnering with the destroyer of the humans. This is unacceptable. We will resist this,” he resolved. He expressed his gratitude to the global partners who continued to supporting Pakistan in its en-

deavor of polio eradication.

Recognizing the sacrifices of the polio workers and the security personnel guarding them, the prime minister said they had paid the highest price for the cause. He said the frontline health workers were the heroes of Pakistan, who were working in challenging environments, facing social barriers and even threats to their safety without ever losing their dedication.

PM Kakar also recognized the services of three police constables who were martyred while on polio duty and to two vaccinators who were injured. He also presented appreciation shields to the former coordinator of the Sindh EOC, Fayyaz Abbasi and the family of Huma Ashraf, who was severely injured in a train accident while on polio duty in September. The prime minister also an-

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knowledged and honored as motivation would be enhanced their performance.

He called for changing the narrative from “Pak Fights Polio” to “Pakistan Winning Over Polio.” He expressed the hope that the World Polio Day next year would mark the complete eradiation of polio from Pakistan.

Federal Health Secretary Iftikhar Shallwani said the campaign was started in 1994 and continued across Pakistan with dedication to date with support from the aid agencies. Besides the polio drive, other related subjects including maternal and neonatal healthcare were also worked on, he added.

WHO Representative in Pakistan Palitha Mahipala said the Day was observed to commemorate the global journey. He said the Polio eradication was one of the major commitments made by the WHO which provided technical support to Pakistan. He said the day was not far when Pakistan would get rid of the crippling disease within next few years as the number of paralysis had sharply declined.

Unicef Chief Polio Officer Melissa Corkum said the credit for the successes went to the health workers who despite challenges went door to door in every campaign. She said the Day was not only to commemorate the successes but also to remember those who sacrificed their lives during the struggle.

Rotary’s District Governor Mr Masrur J. Scheik highlighted his organization’s support for polio eradication through funds, volunteering during campaigns, social mobilization of workers and, installing solar water filtration plants.

PROFIT

The Special Investment Facilitation Council (SIFC) — Pakistan’s paramount economic entity — has convened a formidable committee comprising the Ministers for Energy (chair), Privatisation, Law & Justice.

The objective? To untangle the imbroglio unfolding in K-Electric’s board room regarding its ownership, and to determine the appointment of members on the vacant seats in K-Electric’s board of directors.

The committee is purported to have been constituted in response to a plea by Saudi and Kuwaiti investors who expressed apprehensions and solicited for intervention amid assertions made by Infrastructure and Growth Capital Fund (IGCF) about the proprietorship of K-Electric.

Reportedly, it was in the inaugural week of Septem-

Nawaz’s protective bail in Avenfield, Al-Azizia cases extended till 26th BAIL IN TOSHAKHANA CONFIRMED

ISLAMABAD

STAFF REPORT

The Islamabad High Court on Tuesday extended PML-N supremo Nawaz Sharif’s protective bail in Avenfield and Al-Azizia cases till October 26 and an accountability court confirmed his bail in Toshakhana case while the Punjab government suspended the former PM’s sentence in Al-Azizia reference.

An IHC division bench, comprising Chief Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb, issued the order on Nawaz’s petitions seeking protective bail in the cases and restoration of his appeals against his conviction.

In July 2018, ousted Nawaz was handed 10 years in jail in the Avenfield properties corruption reference for owning assets beyond known income and one year for not cooperating with the NAB, which was to be served concurrently.

The Al-Azizia Steel Mills corruption reference pertains to the case in which he was sentenced to seven years in jail on Dec 24, 2018 and then taken to Rawalpindi’s Adiala Jail, from where he was shifted to Lahore’s Kot Lakhpat jail next day. He was also fined Rs1.5 billion and US$25 million in the case.

Nawaz was released from jail in March 2019, following which he left for London in November 2019 after the LHC allowed him to do so. The IHC declared him a proclaimed offender in both cases in December 2020.

Last week, the IHC had confirmed Nawaz’s protective bail in the cases till Oct 24, paving the way for his homecoming on Oct 21.

During the proceedings today, Nawaz appeared before the court along with his brother Shehbaz Sharif and several other party leaders.

At the outset of the hearing, PML-N’s Azam Nazir Tarar said the accountability court had suspended Nawaz’s warrants in the Toshakhana case and approved his bail against surety bonds.

CONTINUED ON PAGE 03

ber that the law ministry issued directives to the Privatisation Division to exercise scrupulous vigilance on KES Power (KESP) and K-Electric’s case pending in the Sindh High Court owing to the salience of the matter.

The ministry had counselled the legal representative of Privatisation Division to pursue the perpetuation of the stay with respect to alterations to K-Electric’s board of directors in the proceeding currently in progress in Sindh High Court between KElectric shareholders over the validity of the sale of shares to Sage Ventures Limited by the liquidators of Abraaj Investment Management who controlled the Infrastructure and Growth Capital Fund (IGCF).

“These meetings regarding the matter, to my understanding, occur with considerable regularity. The participants have resoundingly proclaimed that the resolution of the K-Electric conundrum and the assurance of contentment among Saudi and Kuwaiti investors

COMPANY WILL BE SELLING NEW VEHICLES SEPARATE TO ROAD PRINCE BRAND THROUGH THEIR OWN DEDICATED SHOWROOM PROFIT

DANIYAL AHMAD

rank highly among the government’s list of priorities,” states Shan Ashary, Chief Investment Officer of AlJomaih and former Chairman of K-Electric.

“IGCF is well aware that KESP’s minority shareholders do not want our increased representation on the K-Electric Board as it will expose the complete mismanagement and negligence that has plagued at K-Electric for the last several years,” states Shaheryar Chishty, Director at the IGCF and CEO of AsiaPak Investments.

“The result has been record breaking losses at KElectric and horrible supply and awful customer service. The people of Karachi deserve a better managed utility that delivers and wins for them. Much like the people of Pakistan who deserve a cricket team that wins,” Chishty adds.

So, what exactly does all this mean?

What’s going on?

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nounced to personally visit Huma as a gesture to recognise her services in the mission of polio-free Pakistan.

“Today is a day to remember how far we have come and how crucial polio eradication efforts remain. Pakistan cannot be the reason to hold the world back.

We must move forward to 2024 with the realization that the weight of global eradication lies on our shoulders. We must leave no room for the virus to spread and reach every child with the vaccine before the virus has a chance to permanently change their lives,” he remarked.

Caretaker Health Minister Nadeem Jan, in his address, paid homage to the polio workers who were striving to accomplish the mission of polio-free Pakistan while facing many odds and hardships. He emphasised that the community health workers should be ac-

MINISTER FOR ENERGY (CHAIR), MINISTER FOR PRIVATISATION, AND MINISTER FOR LAW & JUSTICE HAVE BEEN BROUGHT TOGETHER TO MEDIATE AND FIND A SOLUTION DANIYAL AHMAD

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Road Prince has forged a deal with Yadea, a Chinese electric two-wheeler giant, to distribute their vehicles throughout Pakistan. The company has earmarked an investment of approximately $10 million, to be infused incrementally as they augment their existing manufacturing facility in Kasur. Interestingly, the vehicles will be retailed exclusively via Yadea’s dealership network, bypassing Road Prince’s well-established distribution channels. Six models are slated to be launched in the price bracket of Rs 1.5 lakh to Rs 10 lakh.

“It is the next big thing; we are at the cusp of a global paradigm shift towards electric vehicles, particularly in the two-wheeler segment.” declares Muhammad Salman, Director Sales and Marketing at Road Prince.

Yadea is a Shanghai-based Chinese manufacturer of electric bicycles, motorcycles, and scooters. The company operates in eighty different countries and has been on a worldwide expansion spree for the past two or three years. This venture marks Yadea’s second collaboration with a Pakistani two-wheeler manufacturer within a year.

The Chinese manufacturer inked a technical assistance agreement last December with Pak Star Automobile — the makers of Metro motorcycles. The company has since produced Yadea’s electric scooters in Pakistan as white label products. What will become of this relationship following the one with Road Prince?

Well, we have no clue. Salman refused to comment on this particular issue. Profit also contacted Gulzar Ahmed Butt, Director of Pak Star Automobile.

However, he remained silent as well.

The conspicuous absence of any comment or definitive stance from either party suggests that it might be business as usual. So, why has Road Prince acquired a new brand under its wing when it makes electric vehicles itself?

Solving a practical problem To begin with, the move enables Road Prince to delegate a significant portion of innovation and product development to an external entity.

“Yadea is a brand that exclusively focuses on electric vehicles. In contrast, Road Prince only boasts a single model of lithium-ion based electric motorcycle in its portfolio,” elaborates Salman. Why strive to build your own product range in solitude when you can simultaneously bring an avant-garde player on board to seize market share on your behalf while you concentrate on refining your own indigenous products? Additionally, there’s the crucial aspect of market perception to consider.

“Upon its launch, Yadea is set to cater to a more upscale market segment compared to Road Prince, which has consistently prioritised serving customers with budget constraints,” Salman further elaborates.

However, does it make sense to introduce a premium product at a time when the two-wheeler industry is grappling with tumultuous demand? Whilst Salman champions the cost savings that customers stand to gain when opting for Yadea’s electric vehicle over comparable internal combustion engine alternatives, it’s undeniable that the industry has seen more prosperous days. The same can be said for the purchasing power of customers.

SIFC steps in to mediate K-Electric ownership kerfuffle g

road prince doubles down on electric two wheelers

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SHAH ADVISES NAWAZ TO SAVE COUNTRY BUT NOT BECOME ‘ANYONE’S TOOL’

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Wednesday, 25 October, 2023 | ISLAMABAD

NEWS

SUKKUR

Staff RepoRt

ENIOR Pakistan People’s Party (PPP) leader Khursheed Shah on Tuesday once again hinted that Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif had returned to the country via a backdoor deal and urged him not to come to “save Pakistan” through such a method.

The former opposition leader in the National Assembly, while talking to the media in Sukkur, urged Nawaz to “save the

PML-N workers beat citizen outside IHC

country but not become anyone’s tool” in the process.

“I will appeal to Nawaz Sharif to save Pakistan but not come to [power] with anyone’s help,” said Shah.

The PPP leader added that his party’s “clear stance” was that the elections were not being held in the country within 90 days to accommodate Nawaz Sharif.

“Nawaz Sharif should clearly announce that he is back and elections should now be held. If Nawaz Sharif comes via the wrong path, he will also be remembered in history as [selected],” said Shah.

On October 21, the PML-N supremo landed in Pakistan — ending a four-year self-imposed exile in London — and addressed a massive power show at the Minar-e-Pakistan in Lahore.

During his maiden speech after the homecoming, the elder Sharif, who had been issuing strong remarks against the establishment, announced that he had “no wish to take revenge”.

Talking about his party, Shah said that PPP has always come to power with a manifesto.

Talking about the Supreme Court’s

verdict on the military trial of civilians, Shah wondered if the civilian courts were capable of giving a sentence to those who have been accused or were behind the attacks on state institutions for the sake of their politics.

“We have a lot of examples in the past when courts have refused to hear a case citing pressure. Cases of major terrorists were also returned and that will have to be looked into but the Supreme Court’s decision is final,” noted the former opposition leader.

The PPP leader was commenting on a five-member bench’s verdict on petitions filed by Pakistan Tehreek-e-Insaf (PTI)

Pakistan to boost Russian oil imports by 3.6m tonnes annually

ISLAMABAD

Staff RepoRt

The Pakistan Muslim League-Nawaz workers who have thronged the Islamabad High Court ahead of the arrival of their leader Nawaz Sharif, have tortured a citizen outside the court building.

Reportedly, the PML-N workers who came from Gilgit, subjected to torture a citizen outside the Islamabad High Court for using swear words against Mian Muhammad Nawaz Sharif.

According to the PML-N workers, when the citizen abused their leader, they warned him. But he again called his name, on which the PML-N supporters beat him. Seeing that the PML-N workers were thrashing a man, police interfered and took the citizen with them. The PML-N supporters said that they would not let anyone abuse and raise slogans against their leader.

Sh Rashid admitted to RIC after pain in chest RAWALPINDI

Staff RepoRt

Awami Muslim League (AML) chief and former federal minister interior minister Sheikh Rashid was shifted to the Rawalpindi Institute of Cardiology (RIC) due to chest pain where he underwent several test to ascertain cause his chest pain. According to details, AML Chief Sheikh Rashid Ahmed’s condition suddenly fell ill, after which he was shifted to the RIC. Sources claimed that Sheik Rashid underwent a preliminary medical examination in the emergency department of the hospital and an ECG was done, after which he was admitted to the hospital due to a heart problem. It should be noted that the former Interior Minister, Sheikh Rashid, came to the public after remaining in hiding for several days.

Pak-Malaysia joint military exercise concludes ISLAMABAD

Staff RepoRt

In a significant display of military cooperation and bilateral engagement, Pakistan and Malaysia recently concluded a comprehensive 14-day joint military exercise. According to an official statement issued by the military on Tuesday, the joint exercise commenced on October 9 in Malaysia and consisted of two crucial phases – the Cross Training Exercise and the Field Training Exercise. The exercise, which concluded on October 22, strengthened the bilateral defence ties between the Malaysian and Pakistani armed forces, fostering friendship among the officers from both nations, the Inter-Services Public Relations (ISPR) said. The exercise also achieved in cementing collaborative effort, facilitated the exchange of ideas, knowledge, and skills, with participants from both countries benefiting from this experience.

PROFIT

NewS DeSk

Pakistan is poised to increase its annual imports of Russian crude oil by up to 3.6 million tonnes starting in January 2024.

The move, driven by economic considerations, involves two refineries in Pakistan finding it more cost-effective to refine the URAL grade of crude oil and conduct transactions in yuan, rather than U.S. dollars. This strategic pivot has been revealed by top officials of Pakistan’s Energy Ministry.

Cnergyico PK Limited, a private sector refinery, has initiated plans to

import two cargos of 100,000 tonnes each every month under a long-term agreement with a Russian company. Cnergyico has the capacity to refine 156,000 tonnes per day and can easily process 200,000 tons of Russian crude in a month. Meanwhile, Pakistan Refinery Limited (PRL) will import up to 1.2 million tonnes of URAL crude annually under a flexible businessto-business model, contingent on pricing and volume considerations.

The decision to carry out these transactions in yuan is expected to bring several advantages, including significant cost savings for the refineries, avoidance of premium costs related to U.S. dollar

transactions, and the preservation of substantial foreign exchange reserves.

In addition to the financial benefits, both refineries are projected to undergo significant upgrades over the next six years, enabling them to substantially reduce the production of furnace oil from URAL to just 7-8 percent. This shift will allow a higher proportion of URAL to be converted into finished products, potentially increasing profitability.

Importantly, the transactional model allows PRL to independently import Russian crude under a business-tobusiness framework, exempt from PPRA Procurement Regulatory (Public

ATC extends judicial remand of Pervaiz Elahi till Nov 21 RAWALPINDI

Staff RepoRt

The Anti-Terrorism Court on Tuesday extended judicial remand of PTI President Chaudhry Pervaiz till November 21 in Judicial Complex attack case.

Duty Judge Raja Jawad Abbas Hasan presided over the hearing of the case as Judge Abul Hasanat Zulqarnain was on leave.

Lawyer Sardar Abdul Razak represented Pervaiz Elahi, who was brought to court under tight security. At the offset of the hearing, the judge remarked saying: “Just like there are caretakers in politics, there are caretakers in judiciary too”. Judge Hasan added, “Today I am also a caretaker judge”. He then asked Elahi’s lawyer if a date had to be given today.

To which advocate Razak replied saying yes.

The judge then extended Elahi’s judicial remand till Nov 21. Copies of the challan will be provided for chargesheeting at the next hearing.

The court also allowed him to speak to the lawyers in the courtroom.

On Oct 23, a special court (CentralI) had adjourned a money-laundering case against Elahi and his son, former federal minister Moonis Elahi, as the jail officials did not present the former in the court for medical reasons.

On Oct 5, the Supreme Court had taken exception to the Lahore High Court’s (LHC) tendency to grant “blanket bail orders”.

Karachi CTD arrests ‘Lashkar-i-Jhangvi militant’ behind high-profile killings KARACHI

“Granting of such blanket orders is like issuing a license to commit crimes,” observed Justice Sardar Tariq Masood while heading a three-judge SC bench that had taken up a challenge

by Qaisara Elahi – the wife of Elahi.

The LHC on Oct 3 had disposed of a prosecution’s appeal and directed a judicial magistrate to review its decision of discharging the PTI president in a corruption case. On Sept 26 last month, the LHC’s Rawalpindi bench had disposed of Elahi’s, with the direction to the Punjab home secretary to redress the grievances of the former chief minister of Punjab.

Justice Sadaqat Ali Khan was hearing the petition of Elahi seeking better facilities for himself as per his entitlement. ‘PML-N will reap in polls what they sowed during 16 months govt’ Speaking to reporters outside the courtroom, Elahi said the PML-N

ISLAMABAD

Staff RepoRt

Facilitation Council (SIFC) in facilitating these opportunities was a key point of conversation.

In a meeting with Li Yiman, Chairperson of Eman Logistics, the focus was on expanding Pakistan’s presence on Chinese digital platforms.

Eman Logistics plans to launch “Pakistan National Pavilion” display centers in China, demonstrating a commitment to digital diplomacy.

The Minister also engaged with Jin Weidong, President of Wellhope, a leading Chinese agri-producer. The company’s

Authority) rules. Additionally, SOE (State-Owned Enterprise) rules do not apply to PRL. The government owns just 32 percent of shares in PRL, with the remaining shares held by the public, banks, and investment houses.

Furthermore, it has been disclosed that a Chinese company, United Energy Group (UEG), is currently in talks to acquire a 30 percent stake in PRL, with due diligence underway. UEG is expected to provide $1 billion in funding and enter into an engineering, procurement, and construction (EPC) contract with PRL. This partnership aims to boost PRL’s refining capacity from 50,000 tonnes per day to 100,000 tonnes, in addition to facilitating the refinery’s modernization. The profits generated from these import arrangements are intended for the refinery’s enhancements rather than being passed on to consumers as fuel price relief.

Staff RepoRt

would face the repercussions of the 16 months of the previous government in the elections.

He made the remarks when asked to comment on Nawaz’s return. He also said Nawaz should “reprimand” his brother, former premier Shehbaz Sharif, for the inflation — which rose to 27pc in Sept — due to what he said were the PDM government’s failed policies.

“This Nelson Mandela that has arrived should take his brother to task,” he said. “There was an unprecedented rise in prices and people suffered.”

Elahi said people resorted to ending their lives due to staggering inflation, adding that some also lost their jobs while others had pension issues.

He highlighted that gas and electricity prices were also hiked.

“They even started beating up teachers (protesting for their rights).”

China will assist Pakistan in enhancing exports to China During his recent visit to China Pakistan’s Minister of Commerce Dr.Gohar Ejaz signed a Memorandum of Understanding (MOU) on Pakistan’s behalf with the Chinese Minister of Commerce Wang Wentao in Beijing.

Under the MOU, China will assist Pakistan in enhancing its exports to China.

The MOU will go a long way in increasing Pakistan’s exports to China and will contribute to job creation, in addition to balancing bilateral trade, said the Commerce Minister, according to a report published by Gwadar Pro on Tuesday.

Earlier, the Ministry of Commerce concluded a series of highly productive meetings with prominent Chinese business leaders and investment groups on the sidelines of the 3rd Belt and Road Forum in Beijing.

The meetings were aimed at strengthening economic ties between Pakistan and China and exploring various investment opportunities in Pakistan.

According to the Ministry’s official statement, Dr. Gohar Ejaz met with Wang Zihai, Director of China-Pakistan (Qingdao) International Cooperation Hub. The discussions centered on investment opportunities in Pakistan, including areas such as civilian and defense equipment, EV lithium batteries, solar panels, and semiconductors.

The role of the Special Investment

Chairman Imran Khan and others.

The bench that delivered the verdict comprised Justice Justice Ijaz Ul Ahsan, Justice Munib Akhtar, Justice Yahya Afridi, Justice Sayyed Mazahar Ali Akbar Naqvi, and Justice Ayesha Malik.

The larger bench in its short verdict ordered that 102 accused arrested under the Army Act be tried in the criminal court and ruled that the trial of any civilian if held in a military court will now be considered null and void. The top court said the verdict is applicable to all those accused arrested in connection with the riots of May 9 and 10.

global leadership in smart farming and meat processing can pave the way for a mutually beneficial partnership.

The Minister met with Wang Guidong of Donghua Group, emphasizing Pakistan Steel Mills’ privatization and the government’s dedication to the process. The establishment of SIFC is set to bolster these efforts, and all possible facilitation for the partnership was assured.

A productive working lunch was held with representatives from MCC, China’s metallurgy giant, a key player in the

Saindak Copper-Gold Project. The discussions revolved around expanding collaboration and tapping into MCC’s expertise to foster partnership growth.

The minister also visited COFCO, a leading global food procurement agency, to discuss the possibilities of enhancing Pakistan’s grains and food exports to China.

Dr. Gohar invited them to establish their regional offices in Pakistan to procure more Pakistani products, invest in Pakistan, and make it a hub of its global value chain and storage network with support from SIFC. Dr. Gohar also urged COFCO to establish a Joint Working Group between COFCO, the Pakistani business community, and the Ministry of Commerce.

The Commerce Minister met with several other prominent Chinese enterprises and organizations, including Shandong Xinxu Group, ADM Group, China National Agriculture Development, China National Fisheries Corp, Tianjin Meat Association, and CNAGS. The discussions explored collaboration in various sectors, such as mining, trade, hospitality, construction, EV infrastructure, agriculture, and rice sourcing.

In a separate meeting with BYD, a global leader in electric vehicles (EVs), discussions focused on investment opportunities in Pakistan and the government’s supportive policies, including the role of SIFC.

The Karachi Counter Terrorism Department (CTD) on Tuesday claimed to have arrested a banned outfit militant, who was allegedly involved in several high-profile killings after he was recently released from jail. In a statement, the CTD said in a statement: “The CTD’s LJ (Lashkar-i-Jhangvi) cell in-charge carried out an action in Patel Para and arrested Hafiz Qasim Rasheed alias Bilal and recovered [a] hand grenade and unlicenced 30-bore pistol along with six bullets from his custody.” It added that the suspect had allegedly orchestrated the killings of renowned Qawwal Amjad Sabri, who was gunned down in 2016 in Karachi, as well as the 2010 killing of Mutahhida Qaumi Movement (MQM) MPA Raza Haider. Describing Rasheed as a “dangerous terrorist affiliated with banned LJ”, the official said, “The suspect had run a network inside a jail when he was detained there.” The CTD alleged that he had also been involved in the killing of four Rangers personnel, two Army soldiers and four members of the Shia community from the jail with the help of his accomplices, namely Asim alias Capri and Ishaq alias Bobby. Rasheed had been arrested over charges of killing the MQM leader and other heinous crimes and was sent to prison, but was released recently. “He (suspect) — along with his accomplices namely Waseem alias Baroodi, Abdullah, Danish, Hafiz Khalaq, Pervez, Qari Inayat and Abdullah Ilyas Taimuri — was planning more terror incidents,” the CTD said.

The department had registered a case against him and started an investigation. According to the CTD press release, during the preliminary investigation, the suspect had “confessed” to killing jail assistant superintendent Pir Masood Ahmed and jail deputy superintendent Abdul Razzaq Abbasi, among others.

Punjab Governor, Korean Envoy discuss cooperation in various fields LAHORE

Staff RepoRt

Governor Punjab Muhammad Balighur Rehman was called on by the Ambassador the Republic of Korea, Park Kijun and discussed with promotion of bilateral cooperation in the fields of trade and tourism. Overall situation of Palestine also came under discussion during the meeting held at Governor House Lahore. Speaking on the occasion, Muhammad Balighur Rehman said that Israel’s bombing of children, women and innocent civilians in Palestine Gaza is a crime against humanity. He said that the world should raise its voice against the ongoing atrocities on Palestinians and play its role in stopping it. He said that Pakistan values its relations with Korea.

He said that Pakistan’s government and people are grateful to the Korean government and companies for extending help to the flood victims in Pakistan last year. The Governor Punjab said that economic, technological, defence, cultural cooperation and people to people contact between Pakistan and Korea need to be further promoted.

He said that economic relations between the two countries are of great importance, and bilateral trade should be boosted. He said that Pakistan welcomes all its friends and partners for business and investment. He added that Pakistan would welcome Korean investment in all sectors.

Balighur Rahman said that Korean multinational companies should benefit from investment facilities under the Special Investment Facilitation Council (SIFC). He said that Korean tourists are welcomed in Pakistan to visit Buddhist sites and historical places.

MORE THAN TWO-THIRDS FEMALE ENGINEERING GRADUATES JOBLESS: SURVEY Wednesday, 25 October, 2023 | ISLAMABAD

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ISLAMABAD

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recent joint research initiative

by Gallup Pakistan and Population Research in Identity and Disparities for Equality (PRIDE) has shed light on a concerning trend in Pakistan’s workforce.

According to the analysis of the Labor Force Survey 2020-21, a staggering 70% of female engineering graduates in the

country are either unemployed or out of the labour force. Out of the total 28,920 female engineering graduates surveyed, only 8,146 (28%) were employed, while 6,054 (20.9%) were unemployed, and a significant 14,720 (50.9%) were out of the labour force (not seeking employment).

This concerning trend highlights the challenges faced by highly educated women in finding suitable employment opportunities.

The research also examined the regional disparities among female engineering graduates. The analysis showed that 21.1% of these graduates resided in rural areas, while 78.9% were in urban areas. In rural regions, 43.9% of engineering graduates were employed, and 36.3% were unemployed.

Interestingly, the proportion of engineering graduates choosing to remain out of the labour force in rural areas was significantly

lower at 19.8% compared to the national average of 50.9%.

Urban areas presented a different picture, with 24.0% of female engineering graduates employed, 16.8% unemployed, and a staggering 59.2% out of the labour force. The study highlighted that employment opportunities for female engineering graduates were notably higher in urban areas (67.2%) compared to rural areas (32.8%). However, the majority of those

Road Prince doubles down on electric two wheelers CONTINUED FROM PAGE 01

So, what exactly is happening here?

Hunting for opportunity amidst mayhem With a scant total of 700,000 twowheelers sold and a mere three months remaining, Pakistan’s two-wheeler market finds itself in a precarious predicament. The industry, in conjunction with its four-wheeler counterpart and other manufacturing sectors, has capitulated to the plethora of challenges that have beleaguered Pakistan’s economy since 2022.

Road Prince, however, has borne the brunt of a particularly savage blow — a blow that the company has been weathering for approximately six years.

The company is poised to register a sixyear nadir, having sold a meagre 14,472 vehicles with just three months remaining before the curtain falls on 2023. Even if the company manages to double its total output in the remaining quarter, it will scarcely reach half of the sales it achieved

in 2022. To provide some context, 2022 itself marked a five-year low for the company.

Furthermore, at 14,472, the company currently represents a mere fraction of its six-year average of 105,712 units per annum. This is also reflected in the company’s share of the two-wheeler market, which has dwindled to a paltry 2%. This represents a drop from last year’s 3%, and a precipitous decline from the 10% market share it commanded in 2018.

Perhaps it is amidst this tumult that Road Prince may have chanced upon an opportunity. While Road Prince’s market share has contracted, Atlas Honda and Suzuki’s market shares have remained steadfast. The former has actually burgeoned from 63% to an impressive 88% over the past six years, whilst the latter has stood its ground despite having some of the most expensive two wheelers across the market.

The aforementioned price range enables Road Prince to offer a product to

the market that is more on par with Atlas Honda and Suzuki in terms of pricing— both of whom command a premium over Road Prince. Distributing these new electric two-wheelers through its own exclusive delivery channel rather than the existing one also seems prudent in this case, if indeed it is a more upscale market that Road Prince has set its sights on.

Does it make sense to divert resources to an entirely different venture when the opportunity cost is potentially missing out on consolidating your core business?

Perhaps. thing fact is that there has been a subtle shift in the two-wheeler market.

“The non-Honda motorcycle customer, predominantly from the lowerstratum, has been income disproportionately impacted by the macroeconomic turbulence. Their living expenses have skyrocketed, while their wages have seen a modest uptick,” elaborated Fahad Iqbal, Managing Director of Ravi Automobile, in an earlier conversation with Profit.

“Their eroded purchasing power

SIFC steps in to mediate K-Electric ownership kerfuffle CONTINUED FROM PAGE 01

K-Electric, formerly known as Karachi Electric Supply Company/Karachi Electric Supply Corporation Limited, is a publicly listed entity, established in Pakistan in 1913 under the appellation KESC. Post its privatisation in 2005, K-Electric has emerged as the solitary vertically integrated utility in Pakistan, entrusted with the responsibility of supplying electricity within an expansive 6,500 km square territory that envelops Karachi and its contiguous areas. The preponderance of the company (66.4%) is listed on the PSX and held

by KESP, a consortium of investors that encompasses Aljomaih Power of Saudi Arabia, Denham Investments of Kuwait, and the IGCF. The Government of Pakistan also retains a minority stake (24.36%) in the company.

Within the framework of KESP, IGCF — recently procured by Shaheryar Chishti’s AsiaPak Investments — vaunts a substantial 53.8% stake in KES Power. The residual 46.2% is apportioned between Aljomaih and Denham Investment. The history of K-Electric, Shaheryar Chishti, and AsiaPak have been comprehensively covered by Profit.

What’s germane to us is that AsiaPak has found itself embroiled in a dispute with AlJomaih and Denham over the decision to populate three vacant seats on K-Electric’s board of directors. The contention has escalated to such a degree that cases have been instituted in both the Sindh High Court and the Grand Court of the Cayman Islands, with the latter bearing particular relevance to us. This too has been meticulously detailed previously

by Profit.

The crux of the matter now is that the Cayman Grand Court is teetering on the brink of conducting a final hearing on the issue where it will pronounce its verdict. Per the Court’s last decree, the minority shareholders will not only be obliged to rescind proceedings in Karachi and be prohibited from initiating any analogous proceedings in any court other than those in the Cayman Islands or English courts, but they will also have to indemnify AsiaPak for the proceedings.

However, this obligation only materialises once the final hearing has transpired. They are not mandated to do so prior to this juncture, which is where we currently find ourselves. If both parties were to arrive at an agreement

CONTINUED FROM PAGE 01

Here, Justice Farooq said there were two petitions in front of the high court, both of which were related to restoring appeals against Nawaz’s conviction. “We have to issue notices on these applications,” the judge added.

Meanwhile, Justice Aurangzeb said that for the restoration of the appeals, the petitioner had to explain why he remained absent from the court.

At that, Tarar said: “We just want to move as per the law and you are an expert at that.”

However, Justice Farooq maintained that keeping Article 10A (right to a fair trial) of the Constitution aside, the petitioner had to provide an explanation for his absences from the court.

“You will have to prove that your absences were not deliberate and based on ill intention,” Justice Farooq added. For his part, Tarar said the Lahore High Court had granted Nawaz permission to leave the country over medical reasons.

“You have made a mistake here,” Justice Farooq pointed out, asking that if matters were pending in one high court, could another high court allow that.

Justice Aurangzeb also questioned the law a court had to follow when petitions had been filed for restoration of appeals.

“This is not a matter of routine, this is a matter of show cause,” the IHC CJ remarked, adding that the court would issue notices to the opposing side. “It is necessary for the court to be satisfied by your reasons,” he said.

At one point, PML-N’s Tarar requested the court to extend Nawaz’s protective bail so that they could prepare for further arguments to which Justice Farooq asked the prosecutor general of NAB to give his opinion on the matter.

In his response, the NAB official said the bureau had read the petition for restoration of appeal and did not have any objections to it. He further said that they had no objections to the extension in the protective bail.

currently precludes them from even contemplating such an acquisition. In my opinion non-Honda customers who had the financial wherewithal to acquire an Atlas Honda motorcycle have become more discerning over the past year or so,” Iqbal added further.

Evidently, Road Prince has also been vigilant and noticed the trends that Iqbal highlighted. The Yadea partnership does not preclude Road Prince from expanding its own indigenous footprint. In an ideal scenario, Road Prince could bolster its core audience through its existing brand while simultaneously capturing an entirely new market segment.

As to whether this new dual-pronged approach will prove successful remains to be seen.

There’s also the example of Yamaha that provides a cautionary tale for companies looking at the upmarket category given the Japanese giant’s collapse, similar to Road Prince.

However, in Road Prince’s defence, Yamaha doesn’t sell electric vehicles.

before this eventuality, then the Cayman Grand Court would harbour no objections whatsoever.

LETTING BYGONES BE BYGONES, OR NOT “It’s always within the parties’ prerogative to reach an accord, whether before, during or after proceedings,” explains Salman Ijaz, Partner at KhanIjaz. He cites Reko Diq as an exemplar of how such situations are not an anomaly. “In Tethyan Copper Company vs Federation of Pakistan, even after the award (which was an arbitration before the International Centre for Settlement of Investment Disputes rather than court proceedings), there was protracted litigation around enforcement. This was because you needed to locate US$6 billion worth of assets, but ultimately, the parties arrived at a settlement,” Ijaz expounds. Karkey Karadeniz Elektrik Uretim vs Islamic Republic of Pakistan is another noteworthy instance where parties arrived at a settlement.

“Courts prefer parties to arrive at a settlement because it results in less expenditure on court proceedings which are financially burdensome almost everywhere else in the world and also consume valuable court time,” Ijaz further adds. This brings us up to speed with our current standing. The SIFC will endeavour to mediate before the Cayman Grand Court pronounces its verdict. Whether or not the parties can find common ground remains an entirely different question.

Bail in Toshakhana case confirmed: Nawaz’s protective bail in Avenfield, Al-Azizia cases extended till 26th “Is this the same NAB?” Justice Aurangzeb asked here. “I am hearing these cases after five years and am trying to understand if this is the same NAB,” he said.

“Is the NAB saying that charges of corrupt practices should remain, but the convict should be released?” the judge further asked. “Let’s ask the NAB chairman why he is wasting public time.”

Justice Aurangzeb also asked: “If NAB has no objections, why doesn’t it take back the case?” He then asked the bureau’s prosecutor general to take a “definitive position” and instructed him to communicate NAB’s clear position on the matter at the next hearing.

The court subsequently issued notices to the NAB on Nawaz’s pleas for restoration of the appeals against his conviction and bail. It also extended the PML-N supremo’s protective bail till Thursday.

Earlier, talking to reporters, Nawaz was asked if he would participate in the upcoming polls to which the PML-N supremo smiled.

NEWS

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out of the labour force were in urban regions, accounting for 91.8%.

Further analysis revealed that 64.2% of female engineering graduates choosing to remain out of the labour force were married, indicating a societal trend of not pursuing a professional career after marriage.

This collaborative research between Gallup Pakistan and PRIDE aims to provide valuable and policy-relevant economic and social research data for policymakers in Pakistan. The findings from the Labor Force Survey 2020-21 underscore the pressing need for comprehensive strategies to address the employment challenges faced by female engineering graduates, fostering a more inclusive and equitable workforce in the country.

Pak-China film award ceremony held to promote cultural exchanges

ISLAMABAD: Pak-China film award ceremony held here to promote cultural exchanges. Minister for National Heritage and Culture, Jamal Shah said on the occasion that the cultural bridge’s impact is longlasting. In a passionate speech delivered at the Pakistan Embassy, he shed light on the intrinsic power embedded within the nation’s rich heritage and cultural tapestry, asserting its potential to foster unity and resilience in the face of modern challenges, Gwadar Pro reported About Pakistan’s outstanding achievement in the culture awarding ceremony of Ba’Tie Girl, the first China-Pakistan co-production film, he said that Ba’Tie Girl is a feature film based on the friendship between the people of China and Pakistan which is coproduced by Hunarkada production and China Film Administration. “We are planning to organize an cultural caravan by the end of this year aimed at transcending economic ties and strengthening cultural bonds between Pakistan, China, and the Central Asian States,” the minister said. The Minister informed that the caravan will start from Xi’an, China, and travel through Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan, Iran, UAE, Oman, Gwadar, and Karachi before culminating in Islamabad. Staff RepoRt

STREET CRImE ‘SuRgE’

Punjab Police failed to tackle alarming situation LAHORE

Staff RepoRt

Alarming reports emerge as the bustling city of Lahore, the capital of Punjab, grapples with a distressing surge in kidnappings, primarily targeting women and children. In a disconcerting turn of events, the local law enforcement authorities appear to be facing significant challenges in curbing this growing crisis.

According to the latest updates, a total of nine individuals have fallen victim to these distressing incidents, leading to the immediate registration of cases by the authorities. Among the victims are three young siblings who were tragically abducted from the Shirakot area. Noreen Bibi’s children, Anbrin (11 years old), Imdad Ali (8 years old), and Haider Ali (5 years old), were taken from their home by unidentified individuals.

Meanwhile, in the Chohang area, a woman and her two children have gone

missing under mysterious circumstances.

Ayman Bibi, accompanied by her two children, Muzamil (5 years old) and Mah Jabeen (2 years old), embarked on a journey from Chichawatani to Thokarniazbeg base by bus. Shockingly, all three have disappeared without a trace, and the woman’s phone is also reported to be switched off. In yet another heartwrenching incident, a 13-year-old girl was abducted while she was on her way to purchase Sauda Salaf in the Faisal Town area. Humira, the daughter of Nizam Din, has been missing since the unfortunate incident. Additionally, a 12year-old boy fell victim to an abduction in the Hanjarwal area. Akbar Ali, the nephew of Muhammad Arshad Sagar, was taken while returning from school.

The crisis has also touched the lives of the very young, with a 7-yearold girl being kidnapped from the Kot Lakhpat area. Safia, the daughter of Iftikhar Ali, was abducted while playing outside with other children.

04 COMMENT

Stark choices in attack on Gaza

Wednesday, 25 October, 2023

Losing to Afghanistan

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Political capital for the Afghans, and a patently unfit Pakistan

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US weakening apparent

HE Man of the Match for the PakistanAfghanistan match, Ibrahim Zadran, was perhaps a good choice, because his 87 as opener powered Afghanistan to the target of 284, and was more than the 65 made by fellow opener Rehmanullah Gurbaz in the 130-run opening stand that set up what was Afghanistan’s first ever victory over Pakistan in any form of cricket, whether a Test or either the 50- or 20-over formats of limited-over cricket. However, his use of this occasion to dedicate his award to the Afghan citizens being repatriated from Pakistan was both inappropriate, and did not make sense. Apart from the suitability of a cricketer speaking about another country’s immigration authorities’ actions, he statement seemed to make the assumption that Afghans have a right to live in Pakistan, even if they are there illegally. That the statement came in India may have been pleasing to the hosts of the World Cup tournament, but even India, which has already won against Pakistan, did not use the opportunity to make any anti-Pakistan statement or gesture. It is another matter what are the rights and wrongs of that issue might be, but a sporting event is not to be used for political purposes.

Cricket is a sport, and results follow the rule of showcasing the ‘glorious uncertainty of the game.’

However, even the winner needs the stimulus of having the best team brought up against them. Afghanistan does not will thus find the present victory a hollow one, achieved against an opponent merely going through the motions, of players showing the sort of lead enfooted-ness in the field that goes with efforts to avoid fitness training that would have met with better results if made in a better cause. It has not helped in the field that the PCB has seen three Chairmen in the year and a half leading up to the World Cup, the changes being made not because of improvements in cricket, but because of political vagaries. With the PCB being run like any other corrupt and inefficient government department, it was perhaps inevitable that merit in selection would fall by the wayside. Is cricket going the same way as hockey and squash? The administrators are leaving no stone unturned to ensure this. In that case, the defeat by Afghanistan is the first of a series of disgraces.

FTER the attacks of Hamas on Israel, the world has been divided into two parts: those who criticize Israel, and those who criticize both Israel and Hamas for their barbarism. No one criticizes Palestinians.

Before delving into moral equivalence and other critical questions, a short background of the ongoing war is imperative.

Since the Balfour Declaration in 1917, Jews had been brought to Palestine on unfounded claims of its being the “promised land”. With the genocide at the hands of Hitler, the Jews were encouraged to move to Palestine, who in turn migrated to this Arab land in droves. Fast forward to 1948; much like other criminal acts, the UN accepted a Jewish state at the heart of Palestine that was never acceptable to the Arabs and Palestinians. The powerful do what they can, and the weak suffer what they must; this became true, and against the will of the local people, the colonizers did what they had done with the indigenous people in the USA, Australia, Canada, and New Zealand.

Arab nationalism coupled with Islamic fundamentalism ruled the roost in those days. The Arabs fought many wars, especially 1948 and 1973, but to no avail. These wars strengthened Israel more than ever. The initial land gift from the international community, of less than half of Palestine to the Jews, increased with each passing year. Most significantly, after the Yom Kippur War, illegal annexation, encroachment, and occupation by Israel was in full swing. While of late the total area under Israel was around 80 percent, Benjamin Netanyahu showed a map of Israel without any sign of the Gaza Strip and the West Bank. It was a recipe for renewed struggle for self-determination.

From the Abraham Accord to the Saudi-Israel normalization, the Middle East was poised for a par-

Arif Nizami (Late) Founding Editor

Yousaf Nizami Editor Umar Aziz

Joint Editor

Executive Editor

adigm shift without the primary victims even being mentioned, let alone made part of the conversation.

While this euphoria was doomed before it reached any fruition, it had to see the end in a catastrophic way. It is quite easy to put blame on Hamas for the obvious brutalities, but the fact is that this blowback had been accumulating for decades due to inhumane treatment of the indigenous people.

There are predictable consequences for the war that has been waged against an already dispossessed, weak, and poverty-stricken people. The most visible is the spillover. The USA, a godfather of Israel, doesn’t rule the roost, and the unipolar moment has long gone past us. Three heads of states refused to meet US President Joe Biden, which is unprecedented yet understandable. Owing to this, the USA seems in no position to fight on three fronts— against Russia, China, and Iran-backed Hezbollah.

Although the USA may not directly involve itself in the Middle Eastern conflict, arming Israel, which is by all means the most powerful military power in the region, is tantamount to flaring up deep resentments in the Islamic world.

Russia seems to be gaining too much from this

The USÊs waning power, coupled with the rise of the Global South, has created polarization. The US doesnÊt hold the power it used to from 1991 to 2017; now, the world has radically changed with new global powers internationally. Rather than carrying out retaliation against the suppressed and innocuous people, sense should prevail and there should be a peaceful settlement with the involvement of Palestinians.

The US can do it because it has a huge influence on Israel.

Dedicated to the legacy of late Hameed Nizami

M. A. Niazi

Nazim UddiN

Brains and Drains in Pakistan

The writer is a freelance columnist

Editor’s mail

Both skilled professionals and labourers are leaving

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zafar aziz ChaUdhry

N last May and June, when political instability and economic disparity of Pakistan were at their greatest, it was very much in the air that a record-breaking 800,000 Pakistanis had left the country in the first half of 2023, with at least 100,000 of them being highly skilled professionals, including doctors, nurses, engineers, IT experts, and accountants. It was incredible though to believe such a huge exodus of talent out of Pakistan had taken place in such a short time but soon afterwards, this incredible news was confirmed as true by the Bureau of Emigration and Overseas Employment department to the surprise of all.

Though immigration from Pakistan to other countries was a common practice for several decades, such a high number of immigrants was never reported before.

In view of our deteriorating civil and economic conditions where there are not enough jobs to cater to our surging population, nor are there adequate laboratories or research centres where new advances in fresh discoveries of knowledge could be taken up and tested, most of the fresh youth, seeing a dismal picture at home, leave their country in frustration for greener pastures looking for a better future.

Beside the categories described above, of immigrants leaving for abroad belonging to those wishing to acquire higher techniques or professions, there is another bulk of 450,110 Pakistani immigrants who are of a diverse mix, belonging to various other backgrounds and qualifications, who also left their homeland in pursuit of work opportunities abroad, according to the information provided by the Bureau of Emigration.

Pakistan is currently facing in a bit of a dilemma as to how to deal with this pattern of mass migration. Migration is a complex and multi-faceted problem which has both benefits and drawbacks at the same time. More immigration will expose more public to the explosion of new knowledge from foreign universities, our diaspora will intermix with cultures of various foreign countries and by a direct contact very soon imbibe their ways and methods which can enrich our own culture. Thus instead of living in a secluded existence, knowledge of world culture and partaking of its good qualities would be our need to bring us close to the point where they have reached on the ladder of their progress today.

The other side of the picture is that we make

huge expenditure on the construction of our effective and better equipped educational institutions with our own funds or with expensive foreign aid, and if our own students do not avail their benefit, then allowing them to leave the country in large numbers to acquire the same education from the foreign universities would be a sheer waste of national wealth and also a waste of expensive foreign exchange.

The immigration during the first seven months of 2023 (January to July) has seen 450,110 Pakistanis leave their homeland in pursuit of work opportunities abroad, according to the Bureau of Emigration and Overseas Employment. This includes a diverse mix of individuals from various professional backgrounds and qualifications. Nearly 198,000 ‘unskilled’ Pakistani workers also joined them went abroad under the Labour category.

Brain drain resulting from the emigration of highly skilled and educated individuals from one country to another, has always been a persistent challenge for Pakistan. For several years many talented Pakistanis have sought opportunities abroad, which resulted in great loss of human capital. Thus it is necessary to propose and take urgent steps to reduce or slow down this alarming drain of talent to other countries.

It cannot be altogether stopped because it has a number of positive points favourable for Pakistan’s economy. The wealth the expatriates earn through their hard work abroad is sent back to their dependents and to their country which is called remittances, which are regarded as one of the most significant sources of income of the country.

The government has been urged to create domestic employment opportunities and for-

conflict. Apart from getting an upper hand in Ukraine, Russia and Iran may come closer and give tough times to US interests in the region. There is no doubt about the inevitable participation of Hezbollah from Lebanon and Syrian forces if Israel continues its ground invasion of Gaza, or if it doesn’t stop bombing the open-air prison.

The most prominent player at the international level is China, which has put to the test the whole foundation of the US-led world order. China won’t be engaging in the war directly, but it is observing the turn of events very closely. For China, the Taiwan question may seem foreseeable, yet it would think a thousand times before calling the shots.

Whatever happens, it is a foregone conclusion that the Middle East has changed significantly since October 7. Israel says it is fighting for its survival— an irony because it has been the aggressor for more than seven decades. If Israel does launch a ground attack on Palestine, it would be the last nail in the coffin of the Organization of Islamic Cooperation (OIC).

While the USA is in a position to defuse the situation, up until now, it has actively blocked two UN Resolutions for de-escalation owing to its long-term illegal support of the occupier. One, when Russia brought the idea of de-escalation, the US said there was no condemnation of Hamas. Second, when Brazil presented another resolution, the US came up with the excuse of Israel’s right to self-defense. However, it is important to avoid the same mistakes the USA committed in the aftermath of the 9/11 incident.

The US’s waning power, coupled with the rise of the Global South, has created polarization. The US doesn’t hold the power it used to from 1991 to 2017; now, the world has radically changed with new global powers internationally. Rather than carrying out retaliation against the suppressed and innocuous people, sense should prevail and there should be a peaceful settlement with the involvement of Palestinians. The US can do it because it has a huge influence on Israel.

mulate policies to encourage the return of skilled expatriates to contribute to the country’s development.

The brain drain from Pakistan has a long history. During the 1960s to 1990s many skilled professionals and intellectuals left Pakistan due to political instability and economic uncertainty. Infact this trend continued throughout the 1990s up to the end of the 20th century, and even now persists.

More professional categories like doctors and engineers went to countries like the USA, the UK, and Canada, while average workmen and the labour force went to the Middle East. They all immigrated to pursue better living standards and professional growth overseas. That trend is still continuing in the current decade.

In order to slow down this drain of talent abroad, Pakistan must focus on economic reforms to create an environment that can foster innovation, create jobs and take lead in various enterprises.

Offering competitive salaries is another incentive which can discourage individuals from seeking employment abroad.

Investing in education, which means strengthening the education system and providing higher quality education, including laboratories, can not only help retain local talent but also attract international students to Pakistan.

Establishing research laboratories and Innovation centres can create opportunities for scientists, researchers, and inventors to work on groundbreaking projects within their own country.

The writer is a former member of the provincial civil service and can be contacted at zafar.aziz.ch@gmail.com.

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

Heart attack

HEART disease describes a range of conditions that affect the heart. Heart diseases include blood vessel disease, such as coronary artery disease, irregular heartbeat, congenital heart defects, disease of the heart muscle, and heart valve disease. Coronary artery disease is a common heart condition in which cholesterol deposits (plaques) in the heart arteries are usually the cause of coronary artery disease. The buildup of these plaques is called atherosclerosis, and it reduces blood flow to the heart. It can lead to a heart attack. Some people are born with heart valve disease (congenital heart valve disease). Heart valve disease may also be caused by conditions such as rheumatic fever or infections. Heart attacks are more common in smokers than in nonsmokers and damage the arteries. Diets high in fat, salt, sugar, and cholesterol have been linked to heart disease. Having high cholesterol increases the risk of atherosclerosis. Stress may also damage the arteries and worsen other risk factors for heart disease.

So, for the betterment of society, the government should arrange a campaign through television and educate the people about the side effects of a heart attack. They should restrict sugar and fat-enriched products and impose restrictions on marketing, advertising, and sponsorship of sugar and fatenriched products. The government should also build parks and walking tracks for people because physical activity helps reduce the risk of a heart attack.

ASIFA KIRAN KARACHI

Anxiety and depression

THROUGH the columns of your newspaper, I would like to draw attention to the fact that anxiety and depression are increasing rapidly in every part of Pakistan. Stress and trauma early in life can trigger both depression and anxiety. Anxiety and depression are types of mood disorders. Among other things, depression causes feelings of sadness, hopelessness, and reduced energy. Anxiety creates feelings of nervousness, worry, or dread.

Anxiety is a normal reaction to stress, but when it takes on a life of its own, it becomes an unhealthy, generalised reaction that affects the body and mind. Symptoms can include a rapid heartbeat, aches and pains, and muscle tension. The cause of anxiety and depression may be the use of drugs and alcohol or family issues, but it can also be due to inflation. With the rapidly increasing prices of daily-use products, mental health suffers a lot as people worry about how they will afford the basics like food, housing, and healthcare. So, inflation can be a stressful and challenging experience for people, and men commit 75% of suicides due to anxiety. Anxiety and depression can be overcome by exercise because exercise also raises confidence and can improve relationships. Nutritious food can also boost mood and energy.

ASIFA KIRAN KARACHI

Climate change in Pakistan

Investing in education, which means strengthening the education system and providing higher quality, education including laboratories can not only help retain local talent but also attract international students to Pakistan.

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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AS we all know, climate change is a global crisis that knows no borders, and Pakistan is among the countries most vulnerable to its devastating consequences. Recent years have seen a surge in extreme weather events, including heatwaves, floods, and droughts, which have disrupted lives, destroyed infrastructure, and severely impacted the economy. The agricultural sector, the backbone of Pakistan’s economy, has suffered greatly due to shifting weather patterns and unreliable rainfall, leading to food security concerns and economic instability. The melting glaciers in the northern regions pose another significant threat. These glaciers are vital sources of water for millions of people, and their decline not only affects water availability but also raises the risk of glacial lake outbursts, leading to potential disasters downstream. It is imperative that we come together as a nation and as a global community to take immediate steps to combat climate change.

OMEMA IQBAL KARACHI

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Demosclerosis in Pakistan

Wednesday, 25 October, 2023

Interest groups dominate

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AthAr Ali & SehAr ShAbbir

HE historiography, socio-cultural milieu, and geopolitical diversity of Pakistan dispenses an intricate backdrop for examination. Its democratic governance is facing a formidable challenge, and can be termed demosclerosis Demosclerosis, a term coined by Kevin Phillips in his book Demosclerosis in 1994, embodies the predicament of a government’s adaptability endangered by the influential sway of interest groups. this phenomenon curtails the nation’s capacity to effectively engage with critical socio-economic and political issues, including but not limited to, economic disparities, the exigency of energy transition, and the imperative of environmental stewardship. Demosclerosis, as a persistent conundrum, necessitates focused scrutiny. there must be an analytical inquiry into the manifestations of demosclerosis within Pakistan’s democratic framework, discerning its multifaceted ramifications on the administration of democratic governance.

As the number of interest groups in Pakistan that wield disproportionate influence over the government continues to expand, the nation’s democracy is displaying symptoms of sclerosis. the proliferation of such groups is most conspicuous in Pakistan, where several new entities have emerged in recent years.

Contrary to professed intentions, these interest groups primarily champion legislation benefiting their memberships, inadvertently sidelining the public interest. take, for instance, the agricultural sector in Pakistan.

Large landowner interest groups have effectively secured farm subsidies that disproportionately favor their constituents. While some may reap short-term benefits from these practices, they ultimately exacerbate economic inequality and obstruct efforts to reform agriculture. this pattern coerces policymakers into yielding to special interests instead of pursuing the common good. the expansion of Demosclerosis directly correlates with the proliferation of interest groups. Beyond its economic repercussions, Pakistan’s present predicament raises substantial concerns about the integrity of the na-

tion’s democratic institutions. Pakistani society urgently requires recalibrations that strike a delicate equilibrium between representation and the overall well-being of the populace. the encroachment of concentrated advantages, rendering the government less flexible, serves as compelling evidence of this pressing need.

Demosclerosis is an escalating concern within Pakistan’s democratic framework, mirroring trends seen in Western democracies. the government increasingly prioritizes the immediate demands of well-organized interest groups over the overarching, long-term interests of the general populace. this paradox becomes particularly conspicuous within Pakistan’s energy sector, where various factions engage in battles for control over pivotal policy decisions. Interest groups, representing both established fossil fuel conglomerates and the burgeoning green energy sector, wield substantial influence over national energy policy.

While this influence compels the government to address immediate energy concerns, it simultaneously complicates the formulation of a coherent energy strategy for the nation’s future, a dilemma encountered by many nations. the impact of interest group politics on governance has fostered the emergence of Demosclerosis, hindering the development of a comprehensive energy strategy and impeding progress in policy implementation. this paradox underscores the intricate nature of interest-driven politics and its ramifications on governmental efficacy. the government operates with alacrity to address the concerns of well-organized organizations but often sidelines the broader needs of the populace.

Observing the constricted vision of governance inherent in Demosclerosis, doubts emerge regarding the ability of democratic institutions to strike an equilibrium between responsiveness and prudent long-term planning.

It profoundly influences women’s rights and the freedom of choice in Pakistan, echoing the complexities seen in the broader democratic landscape. Pakistan has indeed made commendable strides in recognizing the importance of gender parity. Nevertheless, these advancements encounter impediments when vested interests advocate for laws that perpetuate existing gender disparities.

An illuminating illustration of this dynamic unfolds within the Pakistani labour market. Advocacy groups upholding traditional gender roles and societal conventions often oppose initiatives aimed at fostering equitable competition between men and women for the same employment opportunities. Fundamental principles such as equal pay for equal work and safeguards against workplace harassment frequently face resistance from these factions, who assert that such reforms

threaten established social norms. the prevalence of Demosclerosis compounds the challenge of achieving gender parity within Pakistan. Interest groups wield the power to obstruct progress toward gender equality and constrict women’s prospects, even as governmental efforts aim to enhance conditions for all citizens. this intricate scenario underscores the intricacies of interest-driven politics and its potential to hinder societal advancement.

Demosclerosis, as research indicates, imposes barriers to Pakistanis’ access to vital social amenities, thereby exerting a detrimental impact on their overall health and well-being. Within the intricacies of governance, two critical areas where interest groups wield considerable influence are the allocation of public funds and the prioritization of essential services. typically, the driving force behind these organizations is the pursuit of short-term gains or the safeguarding of special interests within specific industries.

A prime example of this dynamic materializes in the allocation of healthcare resources. the healthcare sector is teeming with diverse interest groups, spanning

Rigorous regulations pertaining to campaign financing and lobbying are indispensable, adhering to global norms for political finance oversight. Parliamentarians must be encouraged to exhibit greater diplomatic flexibility and consensus-building prowess for cooperative state conduct.

By understanding and addressing these dynamics, Pakistan can harness the energy of interest group politics to create a more inclusive, equitable, and vibrant democracy.

from pharmaceutical corporations to individual medical practitioners. there exists a looming risk that the healthcare resources garnered by these entities may not be equitably distributed among their constituents. Consequently, certain communities and demographic segments experience a palpable dearth of access to medical facilities and care.

When systemic sclerosis prevails, special interests amass substantial influence, making it arduous to ensure the equitable dissemination of social benefits, even in domains that are indispensable to the well-being of all citizens. Demosclerosis undeniably exerts a pronounced influence on access to fundamental services and social equity, exemplified by this specific instance.

It erodes Pakistan’s capacity to ensure universal access to essential social services by amplifying the sway of special interest groups.

Contrary to its usual portrayal as a challenge to democracy, Demosclerosis can be viewed through an alternative lens, wherein it bolsters the very foundations of democratic systems. the proliferation of interest groups and their active involvement in the political sphere infuses democracy with a unique vitality. these groups, representing a spectrum of diverse voices and interests, contribute to vigorous debates and ensure the comprehensive consideration of a wide array of concerns. By actively engaging with policymakers and advocating for their constituents, interest groups provide a vital conduit for citizens to actively partake in the democratic process. In essence, Demosclerosis can be regarded as a testament to the vibrancy of democracy, where a multitude of voices coexist harmoniously, fashioning a dynamic political landscape that remains attuned to the multifaceted needs and aspirations of the populace.

Demosclerosis poses a significant challenge in Pakistan’s democratic framework, necessitating a strategy grounded in transparency, accountability, and the requisite exposure of interest groups, mirroring the principles of global governance. Augmenting civic participation is vital, in line with international democratic development ideals, to counteract their influence.

Rigorous regulations pertaining to campaign financing and lobbying are indispensable, adhering to global norms for political finance oversight. Parliamentarians must be encouraged to exhibit greater diplomatic flexibility and consensus-building prowess for cooperative state conduct. By understanding and addressing these dynamics, Pakistan can harness the energy of interest group politics to create a more inclusive, equitable, and vibrant democracy.

The writer has a degree in International Relations from Abbottabad University of Science & Technology (AUST)

Are social media giants censoring pro-Palestine voices amid Israel’s war?

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From the US to Europe to India, users and activists say the world’s largest social media platforms are curtailing the reach of content critical of Israel AL JAZEERA

PriyAnkA ShAnkAr, PrAnAv Dixit AnD USAiD SiDDiqUi

t the end of last week, thomas Maddens, a filmmaker and activist based in Belgium, noticed something strange. A video about Palestine that he posted to tiktok with the word “genocide” suddenly stopped getting engagement on the platform after an initial spike. “I thought I would have got millions of views,” Maddens told Al Jazeera, “but the engagement had stopped.”

Maddens is one of the hundreds of social media users who are accusing the world’s largest social media platforms – Facebook, Instagram, X, Youtube and tiktok – of censoring accounts or actively reducing the reach of pro-Palestine content, a practice known as shadowbanning.

Authors, activists, journalists, filmmakers and regular users around the world have said posts containing hashtags like “FreePalestine” and “IStandWithPalestine” as well as messages expressing support for civilian Palestinians killed by Israeli forces are being hidden by the platforms.

Some users have also accused Instagram, owned by Meta, of arbitrarily taking down posts that simply mention Palestine for violating “community guidelines”. Others said their Instagram Stories were hidden for sharing information about protests in support of Palestine in Los Angeles and the San Francisco Bay Area. Some also reportedly complained about the word “terrorist” appearing near their Instagram biographies.

In a post on X on October 15, Meta spokesperson Andy Stone blamed the reduced reach of posts on a bug. “this bug affected accounts equally around the globe and had nothing to do with the subject matter of the content – and we fixed it as quickly as possible,” Stone wrote.

When asked about the accusations of shadowbanning, Stone pointed Al Jazeera to a blog post that Meta published highlighting its latest efforts in tackling misinformation related to the Israel-Hamas war. the post said users who don’t agree with the company’s moderation decisions may appeal. the BBC reported that Meta apologised for adding the word terrorist to pro-Palestinian accounts, saying the problem that “briefly caused inappropriate Arabic translations” has been fixed.

A tiktok spokesperson told Al Jazeera that the company “does not moderate or remove content based on political sensitivities”, adding that the platform removes “content that violates community guidelines, which apply equally to all content on tiktok”. Youtube and X did not respond to Al Jazeera’s requests for comment. Civil rights groups aren’t buying the platforms’ denials. this month, 48 organisations, including 7amleh, the Arab Centre for Social Media Advancement, which advocates for digital rights of Palestinian and Arab civil society, issued a statement urging tech companies to

respect Palestinian digital rights during the ongoing war. “We are [concerned] about significant and disproportionate censorship of Palestinian voices through content takedowns and hiding hashtags, amongst other violations,” the statement said. “these restrictions on activists, civil society and human rights defenders represent a grave threat to freedom of expression and access to information, freedom of assembly, and political participation.”

Jalal Abukhater, 7amleh’s advocacy manager, told Al Jazeera that the organisation had documented 238 cases of pro-Palestinian censorship, mostly on Facebook and Instagram. these included content takedowns and account restrictions. “there is a disproportionate effort that targets Palestine-related content,” Abukhater told Al Jazeera in an interview. “In contrast, the official Israeli narrative, as excessively violent as it could get, has got more of a free reign because Meta considers it to be coming from “official” entities, including from the Israeli military and government officials.”

‘GETTING CENSORED’: A 26-year-old marketing manager from Brussels who asked to remain anonymous to protect her identity, noticed that engagement she received on Instagram Stories dipped sharply when she posted about Palestine from her personal account. “I have around 800 followers, and I usually get 200 views for a story,” she told Al Jazeera. “But when I started posting about Palestine, I noticed my views getting lower.” the woman said she was concerned because her story didn’t contain graphic images or include hate speech. “[they were] about understanding that Palestinian people

are human and deserve to live freely in peace in the region,” she said. “Why is that getting censored?”

Another Instagram user, a 29-year-old mechanical engineer from India who also requested anonymity, noticed her Instagram Stories about protests in Los Angeles and California’s Bay Area had zero views even after an hour. “that was unusual,” she said.

She then posted a selfie, which got the usual engagement she usually gets, she said.

Other users had similar experiences and took to the social media platforms themselves to complain. “After posting an Instagram story about the war in Gaza, my account was shadowbanned,” Pulitzer Prize-winning journalist Azmat Khan posted on X. “Many colleagues and journalists [sic] friends have reported the same. It’s an extraordinary threat to the flow of information and credible journalism about an unprecedented war.”

Pakistani author Fatima Bhutto also said Instagram was shadowbanning her and limiting comments and story views. “I am learning so much about how democracies and big tech work together to suppress information during illegal wars they are unable to manufacture consent for,” she posted on X. In a video she posted to Instagram, she said her posts weren’t showing up in her followers’ feeds on the platform. Khan and Bhutto did not respond to requests for comment from Al Jazeera.

Ameer Al-Khatahtbeg, the 25-year-old founder and editor-in-chief of Muslim, a news website that focuses on Muslim issues, noticed that posts from the publication reached significantly fewer people on Instagram over the past few days, plummeting from 1.2 million before the start of the war, to just over 160,000 a week into the war. “the most major form of censorship that is

being implemented is towards any account mentioning keywords such as ‘Palestine’, ‘Gaza’, ‘Hamas’, even ‘Al Quds’ & ‘Jerusalem’ in Instagram stories and posts alongside hashtags such as #FreePalestine, and #IStandWithPalestine,” Al-Khatahtbeg told Al Jazeera. “these posts aren’t reaching Instagram’s Explore page and are showing up on people’s main feed days later.”

Muslim wasn’t the only publication that accused social media platforms of censorship. Days after Hamas first attacked Israel, Mondoweiss, a pro-Palestine news outlet based in the United States, said tiktok banned its account and only restored it hours later after an online outcry. the Palestinebased Quds News Network posted on X that its Facebook page was suspended by Meta. this isn’t the first time that social media platforms have been accused of censoring Palestinian voices.

An independent report commissioned by Meta after Israel’s war on Gaza in 2021 and made public a year later found that the company had negatively affected the human rights of Palestinian users in areas such as “freedom of expression, freedom of assembly, political participation, and non-discrimination”.

According to findings by 7amleh shared with Al Jazeera, Facebook received 913 appeals from Israel’s government to restrict or remove content on its platform from January to June 2020. Facebook consented to 81 percent of these requests. “this isn’t new. Palestinians have faced censorship from Meta before and are experiencing it again,” Al-Khatahtbeg told Al Jazeera. A Meta spokesperson did not respond to a request for comment.

‘TRICKING THE ALGORITHM’: Some people who said they experienced censorship on social media have been resorting to workarounds. When posting to Instagram for instance, a Palestinian activist who did not want to be named for his safety told Al Jazeera that they “started breaking up” words. “When I wrote ‘Palestine’ or ‘ethnic cleansing’ or ‘apartheid’, I’d break the word with dots or slashes. I’d replace the letter ‘A’ with ‘@’. this is how I started tricking the algorithm.” Mohammad Darwish, 31, the founder of a Bydotpy, a blockchain company based in Cairo, Egypt, created a website called “Free Palestine.bydotpy” that automates the same process. typing “Gaza” into his website, for instance, automatically changes it to “ğaza”, which users can then copy and paste into the social media app of their choice. “I don’t like anyone controlling me, and during tensions in Sheikh Jarrah, a Palestinian neighbourhood in East Jerusalem, I experienced a lot of restrictions,” Darwish told Al Jazeera, adding that Facebook also warned him about spreading “hate speech” back then. “As a community of developers, we have a principle that ‘there is nothing that cannot be done with code.’ So I developed this tool, which has two versions, one for the Arabic language and the other for the English language,” he said. “the function of the tool is to change the form of sentences to make it

difficult for artificial intelligence and Facebook algorithms to understand the meaning of the text,” he added.

Shortly after noticing user complaints about social media censorship of pro-Palestine content, Florida-based law firm called Muslim Legal that focuses on helping American Muslims, set up a page on its website where anyone who had faced such censorship could share their experience. At the time of publishing, Muslim Legal had received more than 450 submissions.

“We noticed pages that were simply speaking out for justice for Palestinians were being simply shut down and banned without warning,” Hassan Shibly, the firm’s founder, told Al Jazeera in an interview. “We were also seeing people restricted for innocent comments.” Shibly is now trying to take these complaints to the platforms to try to resolve them. “the use of social media by the community is so essential,” he said. “It’s one of the ways we can push back against Islamophobic narratives. It’s one of the ways we can expose the war crimes that are happening. And it’s one of the tools we have to dismantle the propaganda and misinformation that is being used to justify the ethnic cleansing happening in Palestine by the Israelis.”

NEED FOR TRANSPARENCY: In July, the European Union passed the Digital Services Act (DSA), seeking to tame Big tech.

Under this regulation, social media platforms are required to comply with rules that ensure digital security and also safeguard users’ freedom of expression. “Platforms need to be very transparent and clear on what content is permitted under their terms and consistently and diligently enforce their own policies,” an EU spokesperson told Al Jazeera in a statement. “this is particularly relevant when it comes to violent and terrorist content.”

Crucially, the DSA also mandates transparency around shadowbanning and other kinds of content moderation. “When an account gets restricted, the user must be informed,” the spokesperson said and added that users had the right to appeal the decision. Some experts, however, expressed doubts on the effectiveness of the DSA in the current situation. “In principle, the DSA covers shadowbanning,” Andrea Renda, senior research fellow at the Centre for European Policy Studies, told Al Jazeera, “but in practice, it is going to be harder to prosecute this behaviour compared to the spread of misinformation on these platforms.”

Ultimately, censorship of Palestinian content hurts journalists, civil society and human rights defenders during a time of crisis, Abukhater said. “It especially prevents Palestinians from establishing context surrounding the events affecting their lives during this moment. “It is crucial for companies to recognise their role at this vital moment and recognise that maintaining a steady flow of information to and from Palestine is absolutely essential to save lives and mitigate the human rights impact the censorship could have had.”

06 NEWS

WANG’S ‘CRUCIAL’ US VISIT TO PAVE WAY FOR HIGHER-LEVEL OF INTERACTIONS

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ISLAMABAD

sTAFF cORResPONDeNT

HINESE Foreign Minister Wang Yi is scheduled to visit the US later this week as the interaction between China and the US is currently showing signs of a comprehensive recovery with increasing engagement to enhance understanding and improve the atmosphere.

Chinese observers believe the visit will pave the way for a possible meeting between the head of the two states, but added that Washington needs to make concrete efforts to address Beijing’s concerns and show its sincerity.

At the invitation of US Secretary of State Antony Blinken, member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister Wang

Wednesday, 25 October, 2023 | ISLAMABAD

Yi will visit the US from October 26 to 28, Mao Ning, spokesperson of the Chinese Foreign Ministry, announced on Tuesday.

Wang is expected to meet with Blinken and US national security adviser Jake Sullivan over a range of issues, including the Israel-Hamas conflict, the Ukraine crisis and the escalated provocations from the Philippines over the South China Sea, the AP reported, citing senior administration officials who spoke on condition of anonymity.

The visit comes as China and the US are seeing more frequent engagements at different levels. The China-US economic working group held its first meeting via video link on Tuesday as agreed on by Chinese Vice Premier He Lifeng and US Treasury Secretary Janet Yellen in July.

The US Department of Defense will send a delegation to the 10th Beijing Xiangshan Forum, a high-level security conference

that is set to kick off on Sunday, according to organizers.

Meanwhile, California Governor Gavin Newsom is taking a week-long trip to China, focusing on issues such as climate change and economic cooperation. The visit comes on the heels of US Senate Majority Leader Chuck Schumer, who visited Shanghai and Beijing earlier in October.

The momentum of high-level engagement between the two countries has continued following visits to China since June by a number of Biden administration officials including Blinken, Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo. Although the US is signaling its expectations for a higher level of US-China meetings through the frequent interactions, the direction of its China policy has not changed with its characteristics of duplicity, some experts said. While emphasizing

the importance of dialogue, Washington has continued its strategy of containment against China with not so many significant results so far through those interactions, they noted.

Wang’s visit is a continuation of highlevel exchanges between China and the US, and his main task is to liaise with the US side regarding the arrangements for the APEC Economic Leaders’ Meeting and the meeting between the heads of state of China and the US, Wu Xinbo, director of the Center for American Studies at Fudan University, told media on Tuesday.

During his visit to the US, Wang will have in-depth exchanges of views with senior US officials on China-US relations and international and regional issues of common concern, engage in friendly exchanges with people from various sectors in the US, and clarify China’s principled position and legit-

Battle over axle load regime divides Pakistan’s goods movers PROFIT

News Desk

In a contentious showdown between the formal and informal sectors of Pakistan’s transportation industry, a heated debate rages over the implementation of an axle load regime (ALR) on the nation’s motorways and highways. The controversy pits safety concerns against potential economic repercussions, while government authorities find themselves caught in the crossfire.

The axle load regulations, introduced in 2000 through the National Highways Safety Ordinance (NHSO), have struggled to be fully enforced over the years. Proponents argue that strict adherence to the ALR would minimize the risk of highway accidents. On the other side of the debate,

opponents contend that limiting truck weight would significantly increase transportation costs, placing an additional burden on consumers already grappling with inflation.

At the forefront of the push for ALR implementation is the Fleet Operators Association of Pakistan (FOAP), which asserts that the government has repeatedly relaxed axle load limits in favor of commodity importers and traders, undermining the safety measures put in place.

FOAP continues to advocate for the full implementation of the ALR, citing the need to align Pakistan’s transport industry with international best practices.

They argue that this is vital for ensuring the safety of lives and national assets on highways and motorways, as well as supporting the ambitious CPEC projects to establish Pakistan as a key transit hub.

Hamas releases two more female captives on humanitarian grounds GAZA

AgeNcies

Hamas has released two more female captives both Israelis on humanitarian grounds despite the Netanyahu government’s refusal to accept them since last Friday.

A Hamas spokesman has confirmed the earlier al-Qassam Brigades statement, saying that two Israeli captives both women have been released. “Netanyahu rejected the release. Now he has accepted, maybe under the pressure of the [Israeli] street,” Al Jazeera quoted Osama Hamdan. “We got nothing in return for their release. We released them for humanitarian issues,” he added. Hamdan said that the release took place even though Israel violated the terms of an agreement that would have guaranteed the safety of the captives. “We asked to stop bombing Gaza at least for the time to release them, sending them to the Red Cross and then turning them to the authorities. The Israelis did not follow that. It shows you cannot trust the Israeli side,” he said. A Reuters report said that Hamas released two female civilian captives in response to Egyptian-Qatari mediation efforts. It quoted Abu Ubaida from Hamas’ al-Qassam Brigades that it had secured the release of the detainees “despite the enemy’s refusal to accept them since last Friday and their neglect of the issue of our prisoners”.

Outlook of China’s foreign policy on it’s neighbourhood in new era BEIJING

AgeNcies

China and its neighbouring countries enjoy geographical proximity, cultural affinity and integrated interests with a shared future. The millennium-old friendly exchanges between the two sides are a vivid history of exchanges and mutual learning among civilizations. Such friendly bonds are best captured by the Chinese saying: “true friendship weathers the changing seasons without fading away and is made even stronger by hardships.” The neighboUrhood is where China survives and thrives and the foundation of its development and prosperity. As a member of the Asian family and a responsible major country, China attaches great importance to neighborhood diplomacy, always prioritizes the neighborhood on its diplomatic agenda, and remains committed to promoting regional peace, stability, development and prosperity. Outlook on China’s Foreign Policy on Its Neighborhood in the New Era, based on the assessment and overview of the current situation and future trends in Asia, comprehensively outlines the achievements, policies, visions and objectives of China’s neighborhood diplomacy, and declares China’s commitment to the path of peaceful development, to promoting development of the neighborhood through its own development, to working with regional countries to advance modernization, to jointly building a community with a shared future among neighboring countries and to realizing the vision of a peaceful, secure, prosperous, beautiful, amicable and harmonious Asia in the new era.

ASIA FACES NEW OPPORTUNITIES AND CHALLENGES In the Report to the 20th National Congress of the Communist Party of China (CPC), Xi Jinping, General Secretary of the CPC Central Committee and Chinese President, pointed out that changes of our world, our times, and of historical significance are unfolding in ways like never before. The world has once again reached a crossroads in history. Asia, amidst the changes unseen in a century, stands at a new starting point towards development and revitalization and faces unprecedented opportunities and

FOAP Chairman Murtaza Ahmed Ali emphasized the importance of preserving human lives and pointed to a 2016 World Bank report on road safety, which estimated that accidents cost Pakistan a staggering $12,550 million, equivalent to about 4.5 percent of its GDP. FOAP has also called on the Pakistan Flour Mills Association (PFMA), Sindh Zone, and the Local Goods Transporter Association (LGTA) to reconsider their positions in light of the potential loss of lives and threats to road safety.

Zahoor Iqbal, FOAP’s Secretary General, highlighted that countries like Afghanistan strictly follow axle load management, requiring the load of an 80-tonne Pakistani trawler to be divided into three vehicles to comply with the law.

In contrast, PFMA Sindh Zone

Chairman Aamir Abdullah suggested that Pakistan should prioritize the expansion of its rail network for bulk cargo transport. He argued that implementing axle load regulations, which would reduce truck and trailer loads by almost half, would increase transportation costs and lead to higher demands for diesel and tires, further inflating import bills.

As Pakistan braces for the arrival of approximately 500,000 tonnes of grain in October, with 162,301 tonnes having already arrived in September from Russia, Romania, and Bulgaria, the debate over axle load regulations continues to escalate. The outcome of this battle holds significant implications for both the transportation industry and the broader economy, making it a topic of considerable importance in the country’s current landscape.

SBP projects 2-3 % GDP growth in 2023-24 CURRENT ACCOUNT DEFICIT TO FALL BETWEEN 0.5-1.5% ISLAMABAD

sTAFF RePORT

The State Bank of Pakistan (SBP) has projected that the GDP growth rate will settle between 2 and 3 percent in the current financial year 2023-24 as compared to the target of 3.5 percent.

The SBP released its Annual Report on the State of Pakistan’s Economy for the fiscal year 202223. The report highlights that Pakistan’s economic situation has started to show some early signs of improvement.

The country was able to secure a US$ 3.0 billion Stand-By Arrangement (SBA) from the IMF, towards the end of FY23, which helped in alleviating near-term risks to the external sector.

The high frequency indicators are suggesting bottoming out of economic activity from July 2023.

The withdrawal of guidance on import prioritisation, alongside gradual ease in FX position, is expected to somewhat ameliorate supply chain situation and lift growth in LSM as well as exports. Moreover, an expected rebound in cotton and rice production will support agriculture growth in FY24. Reflecting these considerations, the SBP expects real GDP growth in the range of 2 – 3 percent in FY24.

The SBP has also projected the current account deficit to fall in the

range of 0.5 – 1.5 percent of GDP in FY24. The report states that the lagged impact of monetary tightening, and other contractionary measures, is expected to keep domestic demand in check.

Furthermore, the prospects of improvement in supply situation on account of likely increase in production of important crops and imports is expected to bring down inflation in the range of 20.0 – 22.0 percent in FY24.

Slightly improved global and domestic growth prospects are expected to bolster foreign exchange earnings from exports of goods and services. Although import volumes are likely to increase, lower commodity prices may prevent a significant expansion in imports bill during FY24. Accounting for these factors, SBP projects the current account deficit to fall in the range of 0.5 – 1.5 % of GDP in FY24.

According to the report, Pakistan’s economy faced multiple challenges during FY23, as long standing structural weaknesses exacerbated the impact of successive domestic and global supply shocks of unprecedented nature. The country’s macroeconomic situation had already begun to deteriorate since the second half of FY22 in the aftermath of the Russia-Ukraine conflict, elevated global commodity prices and an unplanned fiscal expansion. The situation worsened

during FY23 owing to floods, delay in the completion of the 9th review of the IMF’s Extended Fund Facility (EFF) program, continuing domestic uncertainty, and tightening global financial conditions.

Particularly, the devastating monsoon floods significantly dented economic activity, fueled inflationary pressures, increased stress on external accounts and widened fiscal imbalance because of spending on relief efforts. Similarly, the uncertain global economic and financial conditions, softening – but still elevated – global commodity prices, higher debt servicing and reduced external inflows had implications for various sectors of the economy.

The confluence of these developments substantially weakened Pakistan’s macroeconomic performance during FY23. The real GDP growth fell to the third-lowest level since FY52, whereas average National CPI inflation spiked to a multi-decade high. While the current account deficit narrowed considerably, limited foreign inflows maintained pressures on the external account leading to a decline in SBP’s FX reserves. Meanwhile, reflecting the unsustainable fiscal policy stance of the past many years, a sharp increase in interest payments, persistently large energy subsidies and lower-than-targeted tax collection contributed to less than envisaged fiscal consolidation during FY23.

PSO resumes fuel supply to 20 PIA flights amidst ongoing financial woes STATE OIL COMPANY , WHICH HAS SET A CREDIT LIMIT FOR PIA AT RS15B, REVEALS THAT AIRLINE'S CURRENT CREDIT EXPOSURE STANDS AT RS14.95B, WITH A CUSHION OF RS50 M AVAILABLE PROFIT

News Desk

Pakistan State Oil (PSO) has restored fuel supply to a total of 20 Pakistan International Airlines (PIA) flights, bound for both local and international destinations, following a substantial payment of Rs 84 million by the national carrier.

This move comes in the midst of an ongoing financial crisis for PIA, which has been grappling with unpaid dues amounting to hundreds of billions of rupees.

A PIA spokesperson confirmed to the media that due to the suspension of the fuel supply to the airline 77 flights were canceled. The spokesperson noted that 52 international and 29 domestic flights were scheduled on Sunday, of which only 4 flights departed. It added that the PIA administration was in constant touch with the Pakistan

State Oil (PSO) as payments could not be made due to bank closure on Sunday.

On Monday, PIA managed to settle its outstanding bills to PSO in two installments. The first payment, amounting to Rs59 million, was promptly made, followed by a second payment of Rs25 million later the same day. After accounting for the weekend deficit, PIA had Rs35.8 million available for its Monday flights.

A spokesperson for PSO disclosed that they had received a total of Rs220 million from PIA for refueling services provided on Saturday and Sunday. PIA had furnished a list of 39 flights scheduled for October 21, 2023, which had been temporarily halted due to unpaid dues.

According to the terms of their agreement, from October 16 to 23, PIA was expected to make daily payments of Rs 920 million against

the fuel supplies provided by PSO. Pakistan State Oil, which has set a credit limit for PIA at Rs15 billion, revealed that the airline’s current credit exposure stood at Rs14.95 billion, with a cushion of Rs50 million available. Meanwhile, the payables against the ongoing supplies amounted to Rs2.05 billion.

The outstanding amount owed

by PIA to PSO as of October 16, 2023, was disclosed to be a staggering Rs26.825 billion. This sum comprised Rs14.893 billion as the principal amount and Rs11.932 billion as late payment surcharges (LPS). As of October 17, the payable amount against current supplies was reported to be Rs2,072 million.

The resumption of fuel supply to PIA aircraft was initiated after PSO received an advance payment of Rs220 million from the airline, which had been suspended on October 21, 2023, due to the mounting dues.

imate concerns regarding China-US relations, Mao said.

We hope that the US, together with China, will put into practice the important consensus reached by the leaders of both countries, strengthen communication and dialogue, expand practical cooperation, properly manage differences, and jointly push China-US relations back onto a track of healthy and stable development, the spokesperson noted.

“There are many topics to be discussed between China and the US, including the Ukraine crisis and Israel-Palestine conflict,” Li Haidong, a professor at the China Foreign Affairs University, told media Tuesday.

China is also focused on the US’ artificial limits on high-tech and its moves to politicize economic and trade relations, in addition to the Taiwan question and the South China Sea issue, Li said.

CORPORATE CORNER

Mobilink Bank, BMA Capital Management enter into distribution agreement

ISLAMABAD: Mobilink Bank has signed a strategic partnership with BMA Capital Management Limited, one of the oldest and top financial groups in Pakistan, welcoming the company as a 'Brand Ambassador Organization' to help diversify revenue streams and boost business bottom lines for both organizations. Mobilink Bank aims to enhance customer journeys through this partnership and help enable sustainable business growth. Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people's lives by creating opportunities for increased digital inclusion and by driving economic growth across countries that are home to more than 8% of the world's population. Mobilink Bank and BMA Capital signed the agreement in Karachi to formalize the mutually beneficial partnership. sTAFF RePORT

NDRMF committed to making Pakistan resilient against climate change impacts

KARACHI: In order to engage effectively with the Private Sector and other relevant stakeholders to further enhance its efforts of resilience building against natural disasters and long-term climate change adverse impacts, the National Disaster Risk Management Fund (NDRMF) organized a seminar in Karachi. The seminar, titled "Leveraging Carbon Markets to enable Private Investment," addressed critical topics such as the current state of climate change in Pakistan, the understanding of carbon markets, major challenges, Road map for future and the opportunities they present for the Private Sector. By identifying potential sectors for carbon trading and exploring the role of the Private Sector, the event aims to bridge the gap in understanding the challenges, barriers, and international collaborations in the realm of carbon markets. The seminar invited participation from a diverse audience, including the Private Sector, Government officials, UN agencies, Project Developers, Industry leaders, Environmental organizations, Academics, and Climate change enthusiasts. sTAFF RePORT

Japan to assist NTDC in modernizing training facilities for power sector employees

LAHORE: NTDC Headquarters, WAPDA House Lahore-24 October 2023 - Managing Director NTDC, Engr. Dr. Rana Abdul Jabbar Khan has urged the management of TSG Training Centre to apply hybrid / container-based model for field trainings of NTDC and other power sector employees. A Japanese consultant team of AEC Japan called on Managing Director NTDC at WAPDA House Lahore, today. Progress of the on-going JICA Japan/TSG NTDC Project for Enhancing Grid System Operations and Maintenance Training Capacity through TSG Training Centre was reviewed in the meeting. Matters related to trainings, refresher courses and identification of new projects with cooperation of JICA for the improvement in NTDC system were also discussed in the meeting.

During the meeting, MD NTDC said that with the passage of time, new technologies are emerging in the power sector. sTAFF RePORT

Wednesday, 25 October, 2023 | ISLAMABAD

CORPORATE CORNER FCCU hosts workshop on ‘Scientific Application of Groundwater Treatment Tech for Safe Drinking Water’

The Department of Environmental Sciences, Forman Christian College (A Chartered University), hosted a second workshop at FCCU for its project entitled “Scientific and Sustainable Application of Groundwater Treatment Technology for Safe Drinking Water Supply in Punjab, Pakistan”. The project is funded by the Government of Korea under Official Development Assistance (ODA) to the Government of Pakistan through the Economic Affairs Division and the Ministry of Science and Technology, Pakistan. This project received funding of 1.2 million USD for a period of three years from Korea’s Ministry of Science and ICT (MSIT) and the Korean Intellectual Property Office (KIPO). For this project, FCCU is the main implementing institute in Pakistan in collaboration with Dankook University (DKU), South Korea. PR

92% of loose milk in Pakistan fail to comply with regulatory criteria

ISLAMABAD: A nationwide survey on milk quality and safety conducted by University of Veterinary and Animal Sciences (UVAS) found 92% of loose milk samples to be non-compliant to quality and safety parameters. Moreover, 54% milk samples were found unfit for human consumption.

An event was held on 24th October at Avari Towers in Lahore to disseminate the results and press was invited to cover the event Five (5) quality and safety parameters were tested for compliance with regulatory limits. These included Composition, Adulteration, Antibiotic Residues, Aflatoxin M1 and Heavy Metals. Loose milk was largely found noncompliant to these parameters. PR

Renowned Image Consultant Hamid Saeed hosts memorable dinner event for LinkedIn influencers group

In an unforgettable evening of style and inspiration, Mr. Hamid Saeed, a distinguished Wardrobe & Image Consultant, had the honor of hosting the esteemed LinkedIn Influencers Group at a dinner event held at the prestigious Defense Raya.Gathering to explore a topic close to Mr. Saeed's heart, the event centered on the profound importance of dressing appropriately in the professional world. Mr. Saeed emphasized that dressing well is far more than a fashion statement; it is a direct reflection of an individual's confidence, respect for their career, and personal brand. PR

Zindigi, LDA join hands to revolutionize digital transformation in Lahore

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ISLAMABAD

STAFF REPORT

delegation of Chinese experts from the Zhejiang Institute of Geosciences, Zhejiang University, and Zhejiang Academy of Agricultural Sciences visited Pakistan in the recent week.

The visit aimed to promote the PakChina joint research project on heavy metal tracing in cadmium-polluted rice fields and rice safety production technology.

The project aims to address the issue of heavy metal pollution in agricultural soil with China’s research findings and remediation experience to reduce pollution sources and control associated risks,

Gwadar Pro reported Innovative products such as soil conditioners and foliar inhibitors are also

planned to be introduced to Pakistan.

During the visit, the delegation engaged in discussions and exchanges with

Riphah University hosts 4th Int’l Lifestyle Medicine Conference

islamabad: H.E. Mohamad Bello Abioye, Nigerian Ambassador to Pakistan calls on Vice Admiral (Retd) Ahmed Saeed HI(M), Director General, National Institute of Maritime Affairs. H.E. was given a brief overview of NIMA’s working and expertise.

Discussions were held on areas of mutual interest and cooperation for promotion of blue economy and effective maritime governance. In the end, the Ambassador assured NIMA of fruitful collaboration with Nigerian think tanks and govt institutions. PR

Dr. Azra Yasmin, President Rotary Club Islamabad Metropolitan, presenting souvenirs to Dr Naeemuz Zafar Chief Statistician, Pakistan Bureau of Statistics. PR

Riphah International University successfully hosted its 4th International Lifestyle Medicine Conference on October 24, 2023, at the Pearl Continental Hotel in Rawalpindi. The conference, themed 'The Foundation of Wholesome Healthcare,' aimed to raise awareness about the pivotal role of lifestyle medicine in modern healthcare practices. The event served as a platform for healthcare professionals to explore national and international training programs, thereby fostering an understanding of the significance of incorporating lifestyle medicine into their practices. Dr. Shagufta Feroz, Director of the Riphah Institute of Lifestyle Medicine, warmly welcomed the participants and provided an overview of the conference's objectives. PR

938 graduates roll out at CUI Wah Campus Convocation 2023

ISLAMABAD: The Convocation of COMSATS University Islamabad (CUI), Wah Campus was held on Tuesday, October 24, 2023 at Jinnah Convention Center, Islamabad in which degrees were conferred to 938 graduating students of Wah Campus at undergraduate and graduate levels in the discipline of Management Sciences, Electrical & Computer Engineering, Civil Engineering, Mechanical Engineering, Computer Science and Mathematics.

36 graduates were awarded with gold, silver, and bronze medals at the Institute. PR

During a visit to NPB on Tuesday, Secretary Interior, Mr. Aftab Akbar Durrani, was briefed by DG, NPB on the mandate, role, functions, existing and proposed future initiatives, and challenges of NPB. Secretary Interior emphasized on the important and critical role of NPB and commended its performance despite resource constraints. He also assured the complete support of Ministry of Interior in enabling NPB to carry out its mandated functions effectively and impactfully Earlier, the Director General NPB, Dr. Ehsan Sadiq informed the visiting Secretary that the Bureau is secretariat of important institutions of National Police Management Board (NPMB), National Police Reforms Committee (NPRC) and National Public Safety Commission (NPSC). In this capacity, NPB is spearheading the police reforms, interprovincial police coordination and international cooperation. The Secretary Interior was also briefed on the proposed initiatives by NPB. PR

PTCL Group partners with Evam for enhanced customer experiences

ISLAMABAD: PTCL Group (PTCL & Ufone 4G), Pakistan's leading telecommunications and ICT services provider has partnered with Evam, a leading Martech platform for creating real-time, cross-channel customer experience. This collaboration underlines the Group’s unwavering dedication to provide its customers with the best communication services and driving forward Pakistan’s digital transformation.

PTCL Group will be introducing new customer experiences and products with support from Evam’s next-gen real-time engine. This cutting-edge technology will ensure seamless experiences across all digital and telco touchpoints. Evam will empower the Group’s business partners to leverage real-time data, along with profiles. PR

KARACHI: Analysis of the labor force survey 2020-21 reveals that approximately 70% female engineering graduates residing in the country are either unemployed or out of labor force.Out of total 28,920 female engineering graduates, 6,054 (20.9%) are unemployed and 14,720 (50.9%) were out of labor force while only 8,146 (28%) were employed.This was revealed in joint research conducted by Gallup Pakistan and PRIDE, using data from Labour Force Survey 2020-21 on female engineering graduates (including individuals who have passed Bachelors, MS/M.Sc., M.Phil. or Ph.D. degree in any field of engineering) and their status in the labor market. The analysis of the data for the three groups (employed, unemployed and out of labour force) by region (rural and urban), shows that around 21.1% of all engineering graduates resided in the rural regions in the country while 78.9% of them were in the urban areas. PR

prominent Pakistani institutions, including the National Agricultural Research Center (NARC) and universities.

They also participated in an academic seminar on the prevention and control of soil heavy metals, where Dr.Lu Xinzhe from Zhejiang Institute of Geosciences delivered a presentation on the sources and risk assessment of soil heavy metals.

The visit strengthened the implementation of the Pak-China joint research project, facilitating knowledge exchange and data collection.

It marked a significant step towards achieving the project’s goals of improving soil quality, enhancing rice safety, and promoting the application of relevant technologies and products in Pakistan.

SSGC's Rizwan shines at Feroz Saif Cycle Race

SSGC's cyclist Mohammad Rizwan rode past his competitors to win the Sindh-Balochistan Feroz Saif Memorial Cycle Race 2023, organized by Sindh Cycling Association (SCA).Thirty five local riders competed in the 80-km long Race that kicked off from Paracha Chowk Shershah and culminated at Bawani Chowk at Hub Chowki. Rizwan earned top spot by reaching the finishing line in 2 hours, 39 minutes and 35 seconds. The second position was clinched by SSGC's Ali Ilyas. Hashir secured 3rd position. Chief Guest Sardar Sajjad, President SCA, General Secretary Ahsanullah and Arif Waheed, Admin and Media Coordinator, SSGC Sports Department presented trophies and cash awards to the top riders. PR

Dawlance partners with ‘Pink Ribbon’ and ‘Santex’ for Breast Cancer Awareness

Secretary Interior commends NPB’s performance

70pc female engineering Saleem Khan Tanoli graduates in country either congratulates govt over unemployed or out of labor force renewal of GSP Plus status

LAHORE: indigi, the digital banking initiative powered by JS Bank, has signed another transformative collaboration with Lahore Development Authority. LDA Director General, Muhammad Ali Randhawa, is spearheading a major advancement in public sector digitization by transforming LDA payments & its Schools with substantial support from Zindigi. Lahore Development Authority and Zindigi is set to launch extensive School Management Solution and a unified one-window application. Zindigi will work diligently on financial inclusion, with a core focus on empowering school children and enabling digital payments. PR

07

Pak-China allianCe to Combat soil heavy metal Pollution NEWS

KARACHI: Mr. Saleem Khan Tanoli, Vice President - Asia Advertisement Association (AAA) and Former Sr. Vice President - German Pakistan Chamber of Commerce & Industry (GPCCI) congratulated the Government of Pakistan following the announcement that the European Union (EU) had officially extended Pakistan’s Generalized Scheme of Preferences Plus (GSP Plus) status for an additional four years, ensuring its continuation until 2027. This significant decision comes as a testament to Pakistan’s dedication to upholding human rights, labor standards, and environmental protection. The GSP Plus status has played a pivotal role in fostering trade relations and economic growth between Pakistan and the European Union, enhancing our export opportunities and creating a favorable business environment. This extension is a vote of confidence in Pakistan’s commitment to the principles of good governance. PR

KARACHI: The technology leader in Pakistan’s home-appliances market – Dawlance has partnered with Pink-Ribbon Pakistan and Santex (a leading producer of personal hygiene products), to spread public awareness about ‘Breast-Cancer’ and menstrual hygiene in the country. Dawlance is a wholly-owned subsidiary of Arcelik – the 2nd largest manufacturer of electronics in Europe. Besides creating innovative technologies, the company generously supports socio-economic development initiatives to ensure; environmental sustainability, public health, Education, Women-empowerment, etc. for the well-being of its consumers and the masses.

An insightful session about Breast-Cancer diagnosis and menstrual hygiene, treatment and causes was conducted by pink ribbon and Santex, where specialist Doctors (Oncologists) and other experts provided valuable information about Breast-Cancer and menstrual hygiene to the employees. PR

Women's Assembly urges for early warning system of natural disasters

KARACHI: Participants of a "Women Assembly" held in Karachi have highlighted the humanitarian issues faced by the flood-affected people of the 2022 flood, emphasizing the need for an early warning system and safeguarding vulnerable communities, especially women, during disasters.

The event, organized by the Indus Consortium in collaboration with Oxfam in Pakistan, aimed to empower women's voices on safeguarding and protection issues in disaster situations.Government ministers, parliamentarians, civil society activists, academia, affected individuals, and communities were actively involved in the assembly. Senator Dr Khalida Sikandar Mandhro chaired the session on "Unheard Voices of Grassroots," while Mrs Rana Hussain, Minister for School Education, College Education, and Women Empowerment, chaired the session on "Women Safeguarding Issues During and Post Disasters." PR

Philip Morris Pakistan announces financial results for Q3-2023

KARACHI: Philip Morris (Pakistan) Limited (the Company) has released its financial results for the quarter ended September 30, 2023, showcasing the impact of economic challenges and industry dynamics on its financial performance. During the nine months ended September 30, 2023, Philip Morris (Pakistan) Limited reported a Total Net Turnover of PKR 13,641 million, representing an 8.9% decrease compared to the same period last year. The domestic Net Turnover of PKR 10,575 million marked a significant decline of 24.1% versus the prior year, reflecting a 44% drop in volumes versus the prior year following the exorbitant excise increase in February 2023. The Company recorded a profit after tax of PKR 659 million for the same period, signifying a significant decrease compared to prior year, largely driven by the volume decline. In the first nine months of 2023, the company contributed PKR 26,189 million to the National Exchequer, reflecting a 22.5% increase compared to the prior period. PR

Wednesday, 25 October, 2023

PAKISTAN’S REVENUE PER TELECOM USER 10 TIMES LESS THAN GLOBAL AVERAGE: SBP NEWS

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AT PKR 63.2 BILLION IN LOANS, SECTOR IS AMONGST HIGHEST BORROWERS PROFIT

GHULAM ABBAS

CCORDING to the latest State of Pakistan’s Economy report released by the State Bank of Pakistan, the country’s telecom sector has an average revenue per user (ARPU) of $0.80 per month, in stark contrast to the global average of over $8. The ARPU is a key metric to gauge the financial health of cellular mobile operators.

It is important to note that even amongst the neighbouring countries, the Pakistani telecom sector is operating at less than half the revenue, with monthly ARPU figures for India and Bangladesh at $1.7 and $1.6 respectively. The telecom sector, as per the report, is grappling with challenges such as high corporate taxation, which is impacting their earning prospects.

Meanwhile, a sector-wise analysis re-

veals a significant drop in profit repatriation for telecom companies during the financial year 2023. Repatriation is the ability of a firm to send profits to its home country. This decline in repatriation, the report suggests, can be attributed to foreign exchange constraints and a decrease in profits for some corporations due to a slowdown in the domestic economy.

As the telecom sector’s cost structure is dollarized in terms of spectrum fee, capex, fuel, electricity, etc, the companies also face a massive blow with the depreciation of local currency.

Furthermore, a breakdown of loans obtained by the private sector during the financial year 2023 indicates that telecom is among the highest borrowers, with a total loan of PKR 63.2 billion, and the highest fixed investment among all sectors, amounting to PKR 48.3 billion.

Commenting on the statistics, CEO of Jazz, Aamir Ibrahim, stated in a tweet

ECP summons interior secretary over failure to produce PTI chief in contempt case ISLAMABAD

(PTCL) Group also reported a net loss of PKR 9.28 billion during Q3 FY23, higher than the net loss of PKR 5.62 billion during the same period last year. Finance costs for the period also increased to PKR 12.02 billion from PKR 9.34 billion during the same period last year. The company further noted that 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.

Similarly, Telenor Group’s Head of Asia, Borre Furberg, during a recent meeting with Federal IT and Telecom Secretary Hassan Nasir Jamy, said that the business and investment environment in the telecom sector has been challenging for some time, calling for urgent policy reforms.

PM to authorities

ensure timely, uninterrupted fertilizer supply for rabi crop ISLAMABAD

STAFF REPORT

STAFF REPORT

The Election Commission of Pakistan (ECP) on Tuesday summoned the Interior Secretary over noncompliance of order after the ministry informed that PTI Chairman Imran Khan could not be produced before the electoral body in a contempt case due to ‘severe security risk.’ A four-member commission headed by Sindh Member Nisar Durrani heard the contempt proceedings against former prime minister Imran Khan, Fawad Chaudhry and Asad Umar. The former federal ministers appeared before the court, but the PTI chairman could not be brought from Adiala Jail.

Shoaib Shaheen, the counsel of chairman PTI who appeared before the ECP informed it that his client could not be produced as the Interior Secretary had said his life was in danger.

Advocate Shaheen said that it was an insult to the ECP, which had issued production orders for the PTI chairman’s production but it was not implemented.

The ministry and Punjab Police AIG (Operations) informed the ECP in this regard citing that the production of the former premier would be a security risk. The Interior Ministry has recommended to the ECP to hear the contempt case in the jail.

The head of the bench, Nisar Durrani, asked the police officer whether he believed what the PTI chief had said was true. During the hearing, ECP said how the Interior Ministry will hold peaceful elections when it is not able to give security to an individual.

The ECP while summoning the secretary Interior Ministry adjourned the further hearing of the case until November 13. “How interior ministry can order the ECP,” the head of the four-member bench asked.

The ECP expressed anguish on the interior secretary’s apology and observed that if the department cannot provide security to a single person, how it [ECP] could hold general elections.

Khaqan Abbasi reveals reasons behind skipping PML-N’s rally KARACHI

STAFF REPORT

that the telecom sector has been facing pressing challenges for a couple of years now. He emphasized that, due to its capital-intensive nature, the telecom sector is among the highest borrowers to meet its substantial investment requirements, especially amid record-high interest rates.

Pointing to factors such as the lowest global average revenue per user, a high taxation environment, an unprecedented increase in business costs, particularly the soaring dollar-pegged spectrum prices, and the Rupee depreciation over the years, he noted that investment appetite is rapidly diminishing. This poses a challenge to ensure consistent improvement in the quality of services. He called for swift implementation of long overdue policy interventions to enable the telecom sector to continue powering the digital Pakistan dream.

Earlier this month, The Pakistan Telecommunication Company Limited

Former prime minister and disgruntled PML-N leader Shahid Khaqan Abbasi Tuesday revealed reasons behind skipping Nawaz Sharif’s welcome rally at Minar-e-Pakistan Lahore. Talking to media outside the accountability court, the former prime minister revealed that he was no longer a senior leader of the party and he did not find it necessary to attend every event.

“I am not a senior leader of the party and it is not necessary to attend every event” Shahid Khaqan said on a question about not attending Nawaz Sharif’s homecoming rally. On NAB, the former premier reiterated his allegations that NAB has paralyzed the country and it has been five years since he has been appearing before the courts.

“It’s been five years since my case is under trial and I am attending the proceedings but nothing is being done, only dates are being given,” said Shahid Khaqan Abbasi. The former premier suggested the installation of surveillance cameras in the courts so that the masses could see the trials with their own eyes.

Caretaker Prime Minister Anwaarul Haq Kakar directed the authorities concerned to ensuring timely and uninterrupted fertilizer supply for Rabi crop.

While chairing a review meeting regarding provision of Urea for the Rabi crop here on Tuesday, he instructed for the timely arrangement of the fertilizer’s buffer stock. Anwaarul Haq Kakar asked the respective district administrations to keep strict vigilance on the fertilizer prices.

The meeting was also apprised of the current production of the fertilizer and the expected demand.

The participants were briefed about the decisions of the Economic Coordination Committee for the uninterrupted provision of the fertilizer. The prime minister instructed the relevant ministries to formulate a comprehensive mechanism for the smooth supply of the fertilizer for Rabi crop.

The meeting was also briefed about the prices of the fertilizer and its raw material, and the demand and supply for the fertilizer factories. Caretaker ministers Gohar Ejaz, Kausar Abdullah Malik and Muhammad Ali, Advisor to PM Ahad Cheema and relevant senior officers attended the meeting.

DEVELOPMENT OF TOURISM SECTOR IN SWAT REGION: Prime Minister Anwaarul Haq Kakar has emphasized the potential for developing

tourism sector in the region from Khunjerab Pass to Swat with the collaboration of the business community and China. He was talking to CEO of Pakistan Services Limited Murtaza Hashwani who called on him in Islamabad on Tuesday. The Prime Minister noted that the region from Khunjerab Pass to Swat has unlimited tourism potential.

Discussion was held on the use of governmentowned buildings in good locations for business activities through public-private partnership.

Murtaza Hashwani proposed a business partnership between the country’s business community and the government through the Special Investment Facilitation Council (SIFC). He was also appreciative of the Prime Minister’s efforts for bringing economic stability in the country.

Coas prods int’l community into ending israeli aggression against Palestinians RAWALPINDI

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:30

1:30

4:15

Ministry of Commerce grants early kinnow export permission g

6:10

5:25

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FRUIT CAN NOW BE EXPORTED 15 DAYS EARLIER THAN USUAL PROFIT

GHULAM ABBAS

Breaking free from old traditions, the Ministry of Commerce has issued a notification stating that kinnow exports will commence from November 15, 2023, a significant advancement of 15 days compared to previous years.

The decision is believed to be a response to the early ripening of citrus fruits due to climate change, and marks a proactive approach by the government to adapt to evolving agricultural conditions.

Talking to Profit, Waheed Ahmed, a leading exporter highlighted that the alteration in the export schedule was a necessity due to climate change-induced early ripening. He pointed out that kinnow, a variety of Mandarin fruit, was maturing much earlier in the year, making its export unfeasible in the traditional timeline.

Despite this move, exporters are yet to determine the export targets for this season. Quality concerns have been cited as a reason for the declining trend in kinnow exports, raising challenges for the industry.

According to a recent study by the Trade Development Authority of Pakistan (TDAP), the country’s fruits and vegetables exports are concentrated in a few commodities, including Kinnow, mangoes, dates, onions, and potatoes.

These products constitute over 80% of the export revenues. The study also highlights the potential of a diverse range of vegetables to be grown in Pakistan due to varying climates.

However, the export of fruits faced significant challenges during the third quarter of FY23.

Transportation and logistics issues led to a 53% decline in fruit exports. Even during the summers, despite being the world’s fifth-largest mango producer, Pakistan struggled to capitalize on its potential due to these challenges.

It is important to note that kinnow production this season has also plummeted by 36-50% due to severe water scarcity in canals and unexpectedly high temperatures. To counter these setbacks, the industry looked toward expanding into new markets. The Iranian market appeared promising, with the potential to absorb substantial quantities.

Additionally, the Russia,Ukraine and Belarus market, one of the largest citrus importing regions globally, showed significant growth potential.

In light of the recent challenges, the Ministry of Commerce’s decision to allow early kinnow exports signifies a strategic step forward. It reflects a commitment to adapting to changing agricultural landscapes and ensuring the sustainability of vital export sectors. As the nation navigates these challenges, diversification, adaptation, and resilience remain the key focus areas for Pakistan’s agricultural future.

Pakistan successfully conducts training launch of Ghauri Weapon System RAWALPINDI

STAFF REPORT

STAFF REPORT

Chief of Army Staff (COAS) General Syed Asim Munir met with Ambassador of Palestine to Pakistan Ahmad Jawad Rabei at the General Headquarters (GHQ) in Rawalpindi on Tuesday to express condolences on the loss of Palestinian lives in Gaza.

He expressed grave concern over unabated violence and the willful, indiscriminate killing of innocent civilians by the Israeli Defence Forces (IDF) in the ongoing war, according to a statement released by the Inter-Services Public Relations (ISPR).

Earlier today, the Palestinian health ministry said at least 5,087 Palestinians have been killed in two weeks of strikes, including 2,055 children, the health ministry said.

Israel pounded hundreds of targets in Gaza from the air on Monday as its soldiers fought Hamas fighters during raids into the besieged Palestinian strip where civilians are trapped in harrowing conditions.

“Incessant attacks on the civilian population, schools, universities, aid workers, hospitals and the

forced exodus of Palestinians from Gaza are the manifestation of crimes against humanity,” stated the military’s media wing.

The COAS reiterated the call for an immediate cessation of hostilities and the opening of a humanitarian corridor in Gaza.

He stressed on the protection of civilians besides adherence to the International Humanitarian Law in the ongoing crisis.

Moreover, the COAS reiterated Pakistan’s principled support for an independent, viable and contiguous state of Palestine established on the basis of pre-1967 borders with AlQuds Al-Sharif as its capital.

“Pakistan believes that the fresh spate of violence in Gaza is the result of unabated repression,

continued human rights violations and state-sponsored sacrilege of Al Aqsa mosque,” said COAS Munir.

“Conflating this war with terrorism would be naive; taking a narrow and self-serving view of the issue as an isolated attack, obscures brutal oppression spanning decades that has led to this outcome,” he added.

“At this critical juncture, it is imperative that the international community mobilizes to put an early end to the unfolding human tragedy due to disproportionate and unlawful use of force by IDF and desist from encouraging them to continue perpetrating atrocities in violation of all norms of civility and humane conduct,” the army’s media wing quoted him as saying.

Pakistan on Tuesday successfully conducted training launch of Ghauri Weapon System aimed at testing the operational and technical readiness of Army Strategic Forces Command.

The launch was witnessed by the Commander Army Strategic Force Command (ASFC), senior officers from the strategic forces, scientists and engineers of strategic organization.

The Commander ASFC appreciated the standard of training and operational preparedness of Army Strategic Forces, which was reflected by proficient handling of Weapon System in the field and achievement of operational and technical objectives.

He also appreciated the scientists and engineers for their contributions towards enhancement of Pakistan’s strategic capability.

The ISPR said commander ASFC appreciated the standard of training and operational preparedness of Army Strategic Forces, which was reflected by proficient handling of weapon system in the field and achievement of operational and technical objectives.

He also appreciated the scientists and engineers for their contributions towards enhancement of Pakistan’s strategic capability.

President Arif Alvi, Prime Minister Anwaarul Haq Kakar, CJCSC and services chiefs congratulated the participating troops, scientists and engineers on successful conduct of training launch.

The Ghauri test launch comes a week after Pakistan conducted successful test flight of the Ababeel Weapon System, the Inter-Services Public Relations (ISPR) said in a statement.

Pakistanis hold $19b in offshore wealth, with half invested in Dubai’s real estate g

GLOBAL TAX EVASION REPORT NOTES ASIAN TAX HAVENS HOLD $4B, FOLLOWED BY EU WITH $2B, SWITZERLAND $1B AND AMERICAN TAX HAVENS $910M PROFIT

MONITORING DESK

A recent Global Tax Evasion report, produced by the EU Observatory, highlights that Pakistanis own approximately $19 billion in offshore wealth, with over half of it invested in Dubai’s real estate. The report also calls for a minimum 2% income tax on the world’s billionaires to increase their current income tax contributions.

According to the report, Pakistanis hold approximately $19.2 billion in offshore assets, of which $8 billion is in cash, shares, bonds, and investments, while an additional $11.2 billion is invested in real estate. This figure accounts for 3.6% of Pakistan’s GDP in 2022.

The report notes that Asian tax havens hold the majority of these assets, with $4

billion, followed by $2 billion in European tax havens, $1 billion in Switzerland, and $910 million in American tax havens. This represents a decrease of $1.1 billion in offshore wealth owned by Pakistanis compared to the previous year, primarily due to reductions in assets held in Asian tax havens.

The report suggests a shift in preferences over time, as Pakistanis have historically held substantial wealth in Switzerland. In 2007, Pakistanis held as much as $19 billion in Swiss assets, which, by 2016, had decreased to just $2 billion. This shift in wealth destinations appears to coincide with significant political changes in Pakistan following the Panama leaks.

One notable highlight is the ownership of $11.2 billion in real estate in three global cities—Dubai, London, and Singapore. The majority of this real estate investment, ap-

proximately $10 billion, is located exclusively in Dubai, with significantly smaller investments in London ($740 million) and Singapore ($120 million). Paris holds just $18 million in assets owned by Pakistanis.

The report underscores the use of offshore real estate as property owned by individuals residing in different countries or held through complex offshore structures that obscure the owner’s identity. The EU Observatory conducted the report with the collaboration of over 100 researchers worldwide and tax administrations. The report’s research indicates that global billionaires have low personal effective tax rates, ranging from 0% to 0.5% of their wealth.

In response to these findings, the EU Observatory recommends the introduction of a minimum 2% income tax on billionaires

worldwide, with the aim of increasing their tax contributions. The report asserts that this measure could generate up to $250 billion in annual revenues from the less than 3,000 billionaires who collectively possess $13 trillion in wealth but contributed just $44 billion in personal taxes in the previous year.

Furthermore, the report discusses the revenue losses incurred by Pakistan and other nations due to profit shifting by multinational companies. In Pakistan’s case, the loss of revenue from such activities amounted to $430 million in 2020, with the majority, $310 million, attributed to profit shifting to non-EU tax havens. This figure was $540 million in 2019. The report also proposes a strengthening of the global minimum tax on multinational companies, free from loopholes, which could generate an ad-

Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk

ditional $250 billion annually. These funds could be instrumental in addressing the challenges posed by climate change, which developing countries are grappling with.

The report concludes by recognizing the ongoing problem of tax evasion, with approximately $1 trillion in profits still being shifted to tax havens in 2022. To combat this issue, it suggests reforms to the international agreement on minimum corporate taxation, advocating for a 25% rate and the elimination of loopholes that encourage tax competition. It also calls for institutional mechanisms to tax wealthy individuals who move to low-tax jurisdictions.

The report recommends unilateral measures in case global agreements fail and proposes the creation of a Global Asset Registry to enhance efforts in combating tax evasion.