Epaper_23-10-31 ISB

Profit DEPORTATION PROCESS APPLIES TO ALL ILLEGAL ‘ALIENS’: KAKAR In partnership with

Rs 40.00 | Vol XIV No 121 I 40 Pages I Islamabad Edition

Tuesday, 31 October, 2023 I 14 Rabi us Sani, 1445

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SAYS POLICY NOT LIMITED TO ONE MILLION g INTERIOR MINISTRY DIRECTED TO ENSURE ILLEGAL AFGHAN MIGRANTS ONLY DIGNITY OF REPATRIATED WOMEN, CHILDREN Decision to expel illegal aliens compliant with global norms, principles: FO ISLAMABAD

STAFF REPORT

C

LAHORE STAFF REPORT

ARETAKER Prime Minister Anwaarul Haq Kakar on Monday reiterated that as per government’s policy and relevant laws, they were sending back all the illegal aliens and foreigners from the soil of Pakistan as the set deadline of October 31 under the repatriation process draws nearer.

He said that such policy was not centric to only illegal Afghan nationals that had been staying inside the country but encompassed all those undocumented and illegal foreigners.

In an interaction with the students of Lahore University of Management Sciences (LUMS) during a special session, the prime minister elaborated that Pakistan had hosted more than 4 million Afghan refugees on its soil for the last 40 years under the Geneva Convention, despite the

fact that it was not a signatory to it.

He said more than 1 million foreigners had been categorised as illegal who had been staying in Pakistan without legal and valid documents. They were being being encouraged to return back to their native countries, he said, adding if they wanted to return to Pakistan with the required legal documents and valid visas, there would be no restriction.

Replying to a question regarding an incident involving Afghan nationals, the caretaker prime minister said that he had already given direction to the relevant authorities of the interior ministry to ensure dignity of the repatriated women and children as there might be vulnerable groups.

The prime minister said that Pakistan had entertained on its soil for decades those Afghans that had been registered as refugees and compared the treatment meted out to immigrants’ boats in the Mediterranean Sea. To a query, he maintained that in various terrorists’ incidents,

Army officers, judges ‘fully liable’ under NAB laws: Justice Mansoor Shah ISLAMABAD

STAFF REPORT

Supreme Court’s Justice Mansoor Ali Shah on Monday observed that members of the armed forces and judges of constitutional courts were “fully liable” under accountability laws. He made this observation in a dissenting note for the apex court’s September 15 verdict wherein it struck down changes to the accountability laws and ordered the restoration of corruption cases against public office holders.

A three-member bench comprising then-chief justice of Pakistan (CJP) Umar Ata Bandial, Justice Ijazul Ahsan and Justice Shah had announced the verdict on PTI Chairman Imran Khan’s 2022 petition challenging amendments made to the National Accountability Bureau’s (NAB) laws. Justice Bandial and Justice Ahsan had declared Imran’s plea to be maintainable while Justice Shah had disagreed with the majority verdict, saying that not just the corruption cases but inquiries and investigations should also be restored.

In the hearings towards the end of the case proceedings, Justice Shah had repeatedly urged for a full court to hear the case, citing the then-frozen Supreme Court (Practice and Procedure) law. The top court is now set to hear the first-ever intra-court appeals (ICAs) against the majority judgement, which have been filed by the federal government and former SSGCL managing director Zuhair Ahmed Siddiqui.

In the detailed note issued today, Justice Shah concluded that Imran’s petition was “meritless”.

He noted that the petitioner’s counsel “utterly failed to clearly establish beyond any reasonable doubt that the challenged amendments in the NAB Ordinance are constitutionally invalid on the touchstone of ‘taking away’ or ‘abridging’ any of the fundamental rights”.

On the matter of members of the armed forces being held accountable, which had previously been discussed in multiple hearings of the case, Justice Shah noted that the “generally professed opinion that members of the armed forces and the judges of the constitutional courts are not triable under the anti-corruption criminal laws of the land, requires some clarification”.

With only a day to go until the government’s deadline for illegal immigrants to leave Pakistan expires, the Foreign Office (FO) on Monday said that the decision to expel such individuals was in exercise of the country’s domestic laws and “compliant with applicable international norms and principles”.

The statement was issued in response to the Office of the United Nations High Commissioner for Human Rights (OHCHR), which had called on the Pakistani government to “suspend forcible returns of Afghan nationals before it is too late to avoid a human rights catastrophe”.

While the government’s decision had prompted criticism from Afghanistan, Pakistan has said that it is not aimed at any particular ethnic group.

“We call on them to continue providing protection to those in need and ensure that any future returns are safe, dignified and voluntary, and fully consistent with international law,” OHCHR spokesperson Ravina Shamdasani said in a statement from Geneva on Friday. “We believe many of those facing deportation will be at grave risk of human rights violations if returned to Afghanistan, including arbitrary arrest and detention, torture, cruel and other inhuman treatment,” the spokesperson said.

“We are extremely alarmed by Pakistan’s announcement that it plans

certain groups were involved and referred to a suicide attack in a mosque in Khyber Pakhtunkhwa in which the sui-

to deport ‘undocumented’ foreign nationals remaining in the country after Nov 1, a measure that will disproportionately impact more than 1.4 million undocumented Afghans who remain in Pakistan,” she said.

In a statement issued today, FO spokesperson Mumtaz Zahra Baloch said that Pakistan had seen the press statement issued by OHCHR. It said that the repatriation planned applied to “all illegal foreigners residing in Pakistan, irrespective of their nationality and country of origin”.

“The decision is in exercise of Pakistan’s sovereign domestic laws, and compliant with applicable international norms and principles,” Baloch said.

The FO spokesperson added that all foreign nationals legally residing/registered in Pakistan were “beyond the purview of this plan”.

“The government of Pakistan takes its commitments towards protection and safety needs of those in vulnerable situations with utmost seriousness. Our record of the last forty years in hosting millions of our Afghan brothers and sisters speaks for itself,” she said.

Baloch also called on the international community to scale-up efforts to address “protracted refugee situations through advancing durable solutions as a matter of priority”.

“Pakistan will continue to work with our international partners to this end,” Baloch said.

cide bomber was identified from DNA tests as Afghan national.

No surprise: SBP maintains policy rate at 22%, in line with market expectations g

CONTINUED ON PAGE 03

SBP GOVERNOR SAYS MPC BELIEVES CURRENT STANCE IS ‘AGGRESSIVE AND TIGHT’ AND SHOULD CONTINUE PROFIT

UROOJ IMRAN

The State Bank of Pakistan’s Monetary Policy Committee (MPC) decided to maintain the policy rate at 22% in a meeting held on Monday, which was in line with market expectations.

In an analysts’ briefing following the MPC meeting, SBP Governor Jameel Ahmad said the committee was of the view the current stance was “aggressive and tight” and should continue.

The central bank last hiked the policy rate by 100 basis points (bps) to 22% in an emergency meeting in June ahead of an agreement with the International Monetary Fund (IMF). Since then, it has maintained the rate in meetings held on July 31, September 14, and October 30. Commenting on the latest announcement, independent economic analyst AAH Soomro said it was largely as per expectations. While some wanted a rate cut, “short term stability cannot be risked at the expense of short lived growth,” he added.

Soomro said there was a much higher chance the MPC would slash the rate at its next meeting on December 12 as the second half of

fiscal year 2024 “will see significant improvement in inflation outlook, successful IMF review and full impact of gas price hike”.

“The forward guidance shows the worst is behind and good times are ahead,” the analyst added.

Inflation to decline Following the IMF agreement, the Fund asked the SBP to maintain an appropriately tight monetary policy that counters inflation. While inflation clocked in at 31.44% in September, the SBP’s Monetary Policy Statement said it was expected to decline in October and then maintain a downward trajectory, especially in the second half of the fiscal year. It cited downward adjustments in fuel prices, easing prices of some major food commodities, and a favourable base effect for this projection.

It acknowledged that the recent volatility in global oil prices as well as an increase in domestic gas tariffs could pose inflationary risks, but added, however, that they would be offset by targeted fiscal consolidation in fiscal year 2024’s first quarter; improvement in market availability of key commodities; and the alignment of interbank and open market exchange rates.

The SBP’s stance regarding inflation is in line with analyst expectations. In a report released earlier this month, Topline Securities said inflation was expected to decrease because of an average decline of 11% in domestic fuel prices, stable international oil prices and the rupee’s strengthening against the dollar by 8.49% since September 5.

Both Arif Habib Limited and Topline Securities expect average annual inflation in fiscal year 2024 to remain between 23-24%, compared to 29.2% in fiscal year 2023. But all these figures are related to headline inflation. Another measure of the effect on prices is core inflation, which removes volatile factors such as food and energy prices, when measuring inflation. And Pakistan’s core inflation has remained around 21% in the last four months. Is this figure going to remain elevated?

Addressing this concern in the statement, the Monetary Policy Committee stated: “The fiscal policy is also contributing to the overall stabilisation measures, which, coupled with better availability of food commodities, is likely to supplement the central bank’s efforts to bring down inflation.”

IN TODAY’S ISSUE

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Attention industrialists, domestic users, these are your new gas prices g

INTERIM GOVERNMENT HAS PULLED TRIGGER AND HIKED GAS PRICES PROFIT

DANIYAL AHMAD

The caretaker government of Pakistan has approved an increase in natural gas prices for different categories of consumers, effective from November 1, 2023. The decision was made after the Economic Coordination Committee (ECC) and the Federal Cabinet reconsidered the summary submitted by the Petroleum Division, which followed the advice of the Oil and Gas Regulatory Authority (OGRA). The government said that the increase in gas prices was necessary to promote the efficient use of the scarce commodity, ensure the sustainability and affordability of the supply chain, and avoid further accumulation of circular debt. The government also cited the challenges of dwindling natural gas reserves, devaluation of rupee, inflation, and imported liquefied natural gas (LNG) as factors that increased the cost of gas.

The International Monetary Fund has been stringent in its emphasis on addressing the deficiency in the gas sector’s circular flow, as part of the standby arrangement.

OGRA had actually issued its Estimated Revenue Requirements (ERR) for the fiscal year 2023-24 for both Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) on 2 June 2023, . According to this determination, SNGPL and SSGC required revenues of Rs 358 billion and Rs 339 billion respectively.

In line with Section 8(3) of the OGRA Ordinance 2002, it was incumbent upon the federal government to instruct OGRA to adjust consumer gas prices in accordance with government policy. This adjustment was to be effective from 1st July 2022 and implemented within 40 days of OGRA’s determination. Regrettably, this revision in consumer gas prices has not been actioned to date. As a consequence of this inertia in price adjustment, the Sui companies have already shouldered the revenue shortfall for the period from July to September 2023.

This situation underscores the urgent need for action to rectify this financial imbalance.

“There’s a staggering variation across various nonprotected slabs in the new pricing. Penalising solely bulk domestic consumers serves no purpose — it’s akin to treating a symptom rather than the disease,” exclaims Afia Malik, Senior Research Economist at PIDE. “Circular debt in the gas sector is a reality. The imperative for deregulation in the natural gas sector is clear as day — it’s a crucial step towards addressing this pressing issue. Tariffs must pivot towards a costof-service basis, and subsidies and cross-subsidies must be consigned to history to ensure financial viability. The practice of cross-subsidisation across sectors has only served to encourage inefficient use.

Piped natural gas is no less than a luxury; its misuse must be curtailed with immediate effect,” adds Malik.

So, what are the new tariffs?

Domestic (Residential) Consumers The government claimed that it has protected the lowincome households and businesses by keeping their prices low or unchanged. For example, there is no increase in gas price for 57% of the domestic consumers who fall in the protected category. The government has also introduced a fixed monthly charge of Rs. 400 for up to 0.25 hm3 consumption.

Moreover, the sale price for gas supplies to roti tandoors remains unchanged.

Other Categories The government said that it has rationalised the gas prices in North and South regions to create a level playing field for everyone. It has also developed a Regionally Competitive Energy Tariff (RCET) for export industries by consulting with stakeholders. The government said that it aims to discourage captive usage by export and non-export customers and encourage conservation of gas in sectors where gas use is inefficient or where alternate fuels are available.

The knock off effects “An upswing in gas prices is a boon for oil and gas exploration firms and gas utilities, fortifying their cash flows. Conversely, it deals a blow to businesses tethered to gas-captive power plants,” states Rao Aamir Ali, Vice President of Research at Arif Habib. “As for its influence on inflation, it directly contributes to an approximately 80 basis points effect,” Ali continues.

Israeli forces blast into Gaza from two fronts as Hamas claims pitched battles JERUSALEM AGENCIES

The Israeli forces on Monday launched a two-front assault on the primary northern city of Gaza from both its eastern and western flanks.This action comes three days after the commencement of ground operations within the Palestinian territory, which has escalated international pressure to safeguard civilian lives.

Israel’s military reported targeting over 600 objectives in the past few days as it expanded ground manoeuvres in the Gaza Strip.

This escalation occurs as Palestinian civilians face urgent requirements for essential resources such as fuel, food, and clean water, with the conflict now entering its fourth week.

“Dozens” of tanks entered the Zaytun

district in south of the Palestinian territory’s main city, cutting a key road from the north to the south of the Gaza Strip for more than an hour, witnesses told AFP journalists in southern Gaza by phone. “They have cut the Salahedin road and are firing at any vehicle that tries to go along it,” said one resident who did not want to be identified.

Israeli jets bombed a section of the road leaving large craters, another resident said.

The military stated, “IDF troops engaged with and neutralised numerous terrorists who had taken refuge within buildings and tunnels, attempting to mount attacks against the troops.”

Notably, four key Hamas figures were among those dealt with during these operations.

‘Prepared to face ground attack,’ Hamas says in meeting with Lebanese in-

telligence chief A Hamas delegation met with Lebanese intelligence chief Abbas Ibrahim on Monday, Lebanese media reported.

According to the reports, Hamas officials informed the intelligence chief about the situation in the Gaza Strip. In the meeting, Hamas ensured that they were fully prepared to defend against the Israeli ground attack.

In the last 24 hours, Palestinian resistance fighters have reportedly destroyed 3 tanks and 3 armoured vehicles of the Israeli army in the Gaza Strip, a Hamas leader said Monday.

In a separate statement, Gaza Civil Defense said that roads were completely destroyed in the areas affected by the Israeli bombardment, adding that the destruction is causing difficulty for ambulances to reach the affected areas.

CONTINUED ON PAGE 03

It added that constant Israeli bombardment continued around al-Quds Hospital, equating the situation in Gaza to a genocide.

Israeli hostages urge Netanyahu to negotiate captives’ release Hamas on Monday released a video reportedly featuring three captive women, calling on the Israeli government to negotiate with Hamas for the release of the 239 captives.

The three women are among the 239 individuals that Israel claims were taken to Gaza during the October 7 attacks by the Palestinian group.

The woman in the video said: “Benjamin Netanyahu Hello, we have been in Hamas captivity for 23 days… Yesterday there was a press conference for the families of the prisoners, and we know that there was supposed to be a ceasefire, and you were sup-

posed to release us, you should have released us, and I promised. To release us.

However, we are suffering from your political, security and military failure, because of the “failure” that you caused on the 7th of October, because no soldier was in the place and no one came to us, and no one here defended us, and we are innocent and naive citizens, citizens who pay taxes to a state.

Israel, we are now in captivity under “no conditions” conditions. You are killing us. Do you want to kill us all? You want the army to kill us. Isn’t it enough that you slaughtered everyone? Isn’t it enough for you that there were Israeli citizens killed? Release us now.

Release their citizens and prisoners now (meaning the Palestinians). Release us. Release Everyone, we deserve to go back to our families, now now now (shout out loud)”.

02 NEWS

PARVEZ ELAHI SENT ON 14-DAY JUDICIAL REMAND IN ILLEGAL APPOINTMENT CASE

A

Six wedding guests drown after boat capsizes in Khairpur canal KHAIRPUR

Staff RepoRt

In a heartbreaking incident, a wedding party consisting of 11 people on Monday faced disastrous calamity when the boat they were travelling on capsized in Canal Nara, near Sindh’s Khairpur district. Five out of eleven persons were rescued by locals who took timely action to save the fortunate ones.

Search operation to find the remaining persons is underway on the directives of Sindh Governor Kamran Tessori, who took notice of the incident. He directed the Sukkur Commissioner to utilize all resources to search the remaining missing persons. The ill-fated passengers hailed from Village Chamdar Jamal Din Shar, situated on the outskirts of Khairpur Nara. There were 11 people on the boat, who were travelling to attend the wedding ceremony of their relatives when this unfortunate incident occurred, the police said.

Their journey to the event turned tragic when the ill-fated boat tragically overturned due to overcrowding. The names of the missing individuals are Raja, Bakhsh Ali, Dadu Maroof, Salik Ali, and several others, whose fate remains uncertain as the search operation continues to find any survivors. \

Punjab govt, ECP vow to ensure peaceful, free and fair conduct of general elections LAHORE

Staff RepoRt

The Caretaker Punjab government and the Election Commission of Pakistan (ECP) expressed their determination to ensure peaceful, free and fair conduct of the general elections. This resolve was expressed while jointly chairing an important meeting by Caretaker Chief Minister Punjab Mohsin Naqvi and Chief Election Commissioner Sikandar Sultan Raja in Lahore.

LAHORE

Staff RepoRt

local court in Lahore on Monday approved a 14-day judicial remand of incarcerated Pakistan Tehreeki-Insaf (PTI) President Parvez Elahi in a case relating to illegal appointments in the Punjab Assembly.

After completion of his two-day physical remand, Elahi, who remains imprisoned in Rawalpindi’s Adiala jail, was produced before the court of Judicial Magistrate Aamir Raza by the officials of the Anti-Corruption Establishment. The ACE, however, pleaded with the court to extend his physical remand

Man charged with murder in stabbing of Pakistani-American doctor in Texas to Eyewitness News. Matthew Amador, Khan’s neighbour works as a firefighter, said that he grabbed his Katana sword when he realised what was happening and ran after Fridrich, the suspect.

“I said, ‘Hey, what are you doing?’

And just kind of spooked him,” he said. “(It) didn’t look like he was there, or was a person, blank face, real dark, you know, evil look in his eyes.

“He had gone and left three times before I even got there, and when I got there, he was checking her pulse to make sure she was alive and then stabbed her three more times,” Amador said. About 17 people walked out of their homes with guns, according to NBC’s Click2Houston. Amador said the police quickly showed up.

“I started yelling out the description, tall white guy, purple shirt, tall white guy, purple shirt!” he said. However, Conroe police caught up to the suspect and took him into custody.

Amador said he had never seen Fridrich before the attack, making the suspect’s relationship with Khan, unclear.

The Council on American Islamic Relations (CAIR), who said they are investigating the crime, released a statement regarding the Khan’s death.

TEXAS

Staff RepoRt

A man has been charged with first-degree murder after he was involved in the brutal stabbing of an American-Pakistani paediatrician in Conroe, Texas.

Law enforcement officials suspect that Miles Joseph Fridrich, 24, was responsible for the horrific murder that occurred on Saturday at 12:30pm when 52-year-old Dr Talat Jehan Khan was repeatedly stabbed in the common area of her apartment complex, Alys Apartments. Fridrich’s bond was set at $500,000. According to Khan’s family, she had moved to the Alys Apartments on Mansion View Drive in July with her 14-year-old daughter and was working at Texas Children’s Pediatrics Conroe, ABC13 reported.

“Everything in her life revolved around those two things, her kids — her son and daughter — and her kids she looked after as a paediatrician,” Khan’s brother, Wajahat Nyaz, said. Nyaz referred to his sister as a “kind soul.”

While many of Khan’s neighbours witnessed the attack, including several children, one neighbour who attempted to stop the suspect recalled the incident

“Assalamu Alaikum,” the statement read. “Regarding the doctor stabbed in Conroe yesterday: We at CAIR Texas pass along our sincerest condolences to the children and family Dr Talat Khan leaves behind. Inna Lilah Wa Inna Ilayhi Raji’oon. Allah grant her Jannah Firdaous, Amn. “While the police have not released a motive for the killing, we want to assure everyone that we are in conversation with law enforcement agencies. We are unsure at this moment if this was a hate crime; however, given the tragic circumstances, we are paying very close attention to the investigation.

“We will continue to monitor the situation while we launch our own investigation and continue established dialogue with law enforcement. For the time being, we encourage the community to be vigilant and to keep the family in your Du’aa during this difficult time.

May Allah make it easy for them.

Amn.” Khan had been a regular visitor to the mosque for a few months, according to Mohammad Ayubi, Associate Director of the Al Ansaar Mosque, who described Khan as a “nice person.”

In the meantime, Mahnoor Mangrio, Khan’s niece, stated that her aunt was “strong in her faith.”

Sino-Pak Bio-health Agriculture Park inaugurated agriculture, increase productivity, and lift more people out of poverty,” Dr. Abdul Ghaffar, Postdoctoral fellow at North West A & F University told Gwadar Pro. He said that the cultivation of Chinese and local high yielding varieties of different crops and vegetables remained a major area of cooperation.

The park will be constructed in three phases. In the first phase, a demonstration area will be established to plant crops with low input and high value addition.

In the second phase, more will be

ISLAMABAD

Staff RepoRt

Sino-Pak Bio health Agriculture Overseas Sci-tech Demonstration Park was inaugurated at the University of Haripur, Khyber Pakhtunkhwa last week.

The bio health agriculture park is cooperation between the University of Haripur, Pakistan and Northwest Agriculture and Forestry University Xianyang, China. “By sharing new technologies and crop varieties, the project aims to modernize Pakistan’s

LHC issues notices to police officers LAHORE

Staff RepoRt

The Lahore High Court (LHC) on Monday issued notices to police officers named in Pakistan Tehreek-e-Insaf (PTI) activist Sanam Javed’s contempt of court request. The court has asked the police officers to respond to the request by November 3, 2023. Justice Ali Baqer Najafi of the Lahore High Court heard Sanam Javed’s contempt of court request. The petitioner’s counsel argued that the police report submitted to the court in compliance with a court order stated that two cases were registered against Sanam Javed. However, after seeking release, Sanam Javed was arrested again in the Askari Tower case and later discharged by the Anti-Terrorism Court (ATC). She was then named in the Model Town case. Public Prosecutor Ghulam Sarwar Nahang informed the court that there is some progress in the May 9 cases on a daily basis and that Sanam Javed has also been nominated in other cases. The Lahore High Court has asked the relevant police officers to respond to the contempt of court petition by November 3, 2023.

for 10 more days to complete the investigations.

Elahi was initially arrested on June 1 from outside his residence in a Rs70 million graft case related to the embezzlement of development funds allocated for the Gujrat district. Since then, the former Punjab chief minister has been released several times only to be arrested immediately in different cases.

At the outset of Monday’s proceedings, the ACE’s lawyer apprised the court that they had to recover the suspect’s mobile phone. The lawyer maintained that Rs4.1 million were recovered from Elahi’s house, adding that the ACE has to probe into the matter.

invested in high-tech agricultural products. Joint efforts will also be made on talent training and agricultural laboratory establishment.

The third phase will focus on agricultural macro monitoring, management and big data. During the meeting, both sides agreed to extend cooperation in exchange for vegetables and other agricultural varieties through modern agricultural cooperation. They discussed many important aspects of the development of agriculture, especially how to increase yields, the quality of vegetables, fruit and agricultural crops.

The Chinese university delegation later also visited the University of Lahore to observe the field trials underway and the application of Nano biochar which proved effective in improving the yield of Okra, gourd, and eggplant.

They witnessed the research carried out including promotion of vegetable production through bio-healthy agriculture, physiological perspectives of salt tolerance in wheat, impacts of bio-fertilizers on salt stress tolerance and maize.

Bio-health Nano fertilizers adoption and applications for sustainable and climate-resilient farming in Pakistan, production of bioactive oligosaccharides from cress seed mucilage through microbial bio-processing was also observed.

Tuesday, 31 October, 2023 | ISLAMABAD

On the other hand, Elahi’s counsel argued that the interim government was lodging fake and baseless cases against his client.

“The government is subjecting [Elahi] to political victimisation by arresting him [again and again] in fake and baseless cases,” he said.

After hearing the arguments from both sides, the magistrate rejected ACE’s request and sent him to jail on a 14-day judicial remand. According to the details provided by an ACE spokesperson, Elahi made 12 illegal recruitments in the Punjab Assembly on grade 17 positions.

The candidates were recruited in the provincial assembly by altering the records.

“The illegal recruitments were made through fake testing services,” said the spokesperson.

He said that the investigation by the ACE proved that fake recruitments were made in the Punjab Assembly, adding that the anti-corruption has also arrested Secretary Rai Mumtaz Hussain in connection with this case on the basis of evidence.

“Rai Mumtaz was involved in a fake recruiting process with Parvez Elahi,” he said.

Clearing bank to promote awareness about utilizing RMB in Pak, China trade ISLAMABAD

Staff RepoRt

RMB clearing bank is to promote awareness and understanding within Pakistan’s banking and business sectors about crucial factors involved in utilizing RMB in bilateral trade, Gwadar Pro reported. The Industrial and Commercial Bank of China (ICBC) Karachi Branch has hosted a “RMB Clearing Bank Grand Opening Ceremony”, marking a significant milestone in China-Pakistan financial collaboration. The prime objective of the RMB clearing bank is to promote awareness and understanding within Pakistan’s banking and business sectors about crucial factors involved in utilizing RMB in bilateral trade, enhance capital circulation quality, and foster seamless technology and talent exchange. The ceremony attended by distinguished guests, showcased ICBC Pakistan’s pivotal role as the first RMB clearing bank in South Asia, strengthening the enduring friendship between China and Pakistan. On the occasion, ICBC also inked strategic collaboration agreements, strengthening its commitment to fostering financial cooperation and innovation.

PTI denies alliance with any party

MARDAN

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) senior leader Ali Muhammad Khan has denied any alliance with any political party in the upcoming election. Talking to a private TV channel, Khan said that the PTI is the biggest political party in the country and it is making its own political space. He said that the PTI is engaging different parties for free and fair elections and may meet Jamiat Ulema-e-Islam (F) chief Maulana Fazlur Rehman in this regard. However, he clarified that it will be a political meeting and not an alliance. Khan also said that the PTI is expected to meet the Pakistan People’s Party (PPP) in the future regarding the election. He said that the PTI is only interested in clear and transparent elections and wants all parties to get an equal chance. “We are not talking about any alliance, any relief, or any deal,” Khan said. “We have no instructions from Imran Khan to form an alliance with any party, nor has the core committee discussed any alliance with us.”

Health sector reforms, top agenda and mission: Dr Nadeem Jan ISLAMABAD

Staff RepoRt

Caretaker Federal Minister for Health Dr Nadeem Jan on Monday said that reforms in health sector were his top agenda and mission. In a press briefing here, he said that the recruitment of heads of major hospitals would be undertaken as per recruitment rules, strictly on merit following due

process and procedure.

Dr. Nadeem Jan said, “We make it clear we are working in accordance with law and all the recruitments will be made on merit in all hospitals.” “We want transparency to improve the health system,” he said adding that necessary instructions to initiate process for filling of the posts of various cadres had been issued.

The minister said, “The government

believes in upholding utmost transparency and merit in recruitments.” He said steps had been taken to increase facilities in the public sector hospitals. He said load on tertiary and secondary levels had increased and now “we are managing this issue”.

He said an MRI machine had been inaugurated at the Pakistan Institute of Medical Sciences (PIMS) to facilitate patients.

Dr Nadeem Jan said that he received

complaints that the MRI machine at the hospital was out of order for the last four years and patients had to go to private hospitals for MRI. “On which I had given a deadline to the administration to make the MRI machine functional,” the minister added. He said that health sector reform was his top agenda and mission. He added without reforms, improvement and development in the health sector was not possible.

PIA struggles amidst 70% revenue decline, seeks Rs8b loan guarantees PROFIT

NewS DeSk

Pakistan International Airlines (PIA) is facing an unprecedented financial crisis with a staggering 70 percent decline in revenue, primarily attributed to the cancellation of over 600 flights. To counter this perilous situation, the Ministry of Finance is diligently working to secure Rs8 billion in loan guarantees, in a bid to adhere to the agreed-upon limits set by the International Monetary Fund (IMF).

According to top official sources, PIA has witnessed a daily revenue drop of 60 to 70 percent, plummeting from its previous earnings of Rs700 to Rs800 million to a mere Rs300 million. The situation has become increasingly dire as two aircraft within

the PIA fleet are grounded due to various issues. Consequently, the airline now needs help to meet its fuel requirements and is compelled to announce only those flights for which fuel has been secured.

Last week, the Economic Coordination Committee (ECC) approved a bridge financing package of Rs8 billion, utilizing Civil Aviation Authority (CAA) resources, to settle a $25 million debt owed to Malaysia to procure two aircraft. Although there was an outstanding amount of $30 million, PIA successfully negotiated the repayment to $25 million.

PIA had requested Rs24.6 billion from the government of Pakistan to cover its operational expenses. The Ministry of Finance initially rejected this request, citing past instances where financial injections were pro-

vided with a commitment to implement restructuring plans, which were subsequently left unfulfilled.

Meanwhile, the Privatization Commission is vigorously pursuing the necessary procedures to privatize PIA by December or January. The commission faces the daunting challenge of not only accomplishing the privatization process but also maintaining the airline’s operations. Failing to keep the airline operational in its current state could undermine the desired results of privatization.

In light of these developments, the Ministry of Finance is actively working to create a fiscal space and has expressed willingness to provide guarantees for loans amounting to Rs8 billion. There is even the possibility of increasing financial injections to as much

as Rs15 billion, though exact figures are yet to be confirmed, with outcomes expected to emerge this week.

It is worth noting that PIA’s total guar-

antees limit stands at Rs262 billion, which had been previously exhausted but later repaid by the airline, leaving a margin of Rs8 billion available at this time.

GPA BEGINS WATER SUPPLYING PROJECT TO GWADAR FREE ZONE NORTH Tuesday, 31 October, 2023 | ISLAMABAD

G

ISLAMABAD

Staff RepoRt

WADAR Port Authority (GPA) has set into motion water supplying project to Gwadar Free Zone North spreading over the area of around 2221 acres.

Completion timeframe is scheduled in January 2024, Gwadar Pro reported on Monday. Water will be supplied through two different sources. One source will be from 1.2 MGD seawater desalination plant recently completed on June 30 at Gwadar Port area.

Second source will be from old Airport’ water supply line network with storage capacity of 5.6 million MGD. The network is connected with Shadi Kor Dam and Sawar Dam. Gwadar Development Authority (GDA) already completed 158km pipeline from the Shadi Kor and Swad dams.

Ignoring Kashmir can be as lethal as burning Palestine issue, APHC to UN

With the completion of water distribution project, two industries including Agvon and Hangeng will receive 400 cubic meters water per day. Other beneficiaries will be upcoming industries in Gwadar Free Zone North. Apart from East Sea Group, Acrez Mark, Essatex industries, Idrees

SRINAGAR: The All Parties Hurriyat Conference expressing serious concern over the India’s hegemonic policy has said that the unresolved Kashmir dispute has all the ingredients of providing the spark to light nuclear fuse in the South Asian region.

According to Kashmir Media Service, the APHC spokesman in a statement issued in Srinagar cautioned the world, particularly the United Nations that ignoring the simmering situation in Indian illegally occupied Jammu and Kashmir can prove as lethal and catastrophic as the one unfolding in the Middle East due to the unresolved Palestine issue. The statement said that just solution to the dispute is a prerequisite to end turmoil in the region. APHC said, the morale of Kashmiris is high despite the brutal acts and military force being employed by India to suppress their freedom struggle. He said Kashmiris are martyred on a daily basis and the entire Kashmiri leadership was under arrest, hundreds of Kashmiris, including religious scholars, were detained under black laws in jails and detention centers. Staff RepoRt

IIOJK political parties asked to thwart BJP’s communal agenda with unity

SRINAGAR: Senior Congress leader Tariq Hameed Karra has called on all regional political parties to foil Bharatiya Janata Party’s communal and polarizing agenda with unity for the sake of political future of the Kashmiri generations.

According to Kashmir Media Service, addressing a public gathering at Surankote in Poonch district, Karra said if the regional parties failed to thwart the BJP’s nefarious designs, “our coming generations are not going to forgive us”.

“It is the right time to rise above party politics, regional politics and caste politics. Let’s unite and foil BJPs communal, hatred and polarizing agenda. And if we don’t get united today there will be no tomorrow for us and for our coming generations,” Karra added. Commenting on the BJP’s desperation to remain in power, Karra quoted some golden lines of eminent writer Mustafa Kamal Ataturk, who has rightly said decades ago, “one who utilizes religion to uphold his Govt or for the lust of power is a weak ruler, it is as if he would catch his people in a trap,” Karra told. Staff RepoRt

Steel, Bluemoon industries and Bari Textile have already submitted their investment plan. GPA official told Gwadar Pro that as per plan designed by Engineering Department, two local firms have commenced laying down water distribution networks from the two above mentioned sources.

He said 1.2 MGD seawater desalination water plant has been done and dusted with a grant of Rs 2 billion from China in collaboration with Gwadar Port Authority (GPA), National Engineering Services Pakistan and China Harbor Engineering Company (CHEC). Along with completion of Civil, mechanical and electrical work, Central room of 1.2 MGD desalination water plant is now up and running, he informed.

Almost 90 percent manpower and human resource, he said, is hired from local market of Gwadar and Balochistan.

Initially 0.5 MGD Water Desalination Plant project was inked with the conduction of feasibility and survey by government of Pakistan and China.Later having revisited the current demand of water, the government approved the 1.2 MGD Water Desalination Plant for Gwadar On July 5, 2021.

Deportation process applies to all illegal ‘aliens’: Kakar CONTINUED FROM PAGE 01

He clarified that all Afghans were not terrorists but involvement of certain groups in illegal activities was a part of the problem, adding it was the prime responsibility of the government to protect the lives of its people which was also a constitutional obligation. The caretaker prime minister said that governments’ policies were framed after institutional inputs from different institutions and departments.

Replying to a student’s question, he said that the caretaker government was a product of a constitutional order after the former leader of the house and leader of opposition in the previous National Assembly adopted a constitutional procedure and agreed upon his nomination.

He said that the previous parliament had passed a law in which the Election Commission of Pakistan (ECP) was mandated to announce an election date. “It is the mandate of the ECP and not of the Caretaker Prime Minister to set a date for the general elections,” he said, adding if he was mandated under the constitution, he would have given the same.

Prime Minister Kakar further said that the caretaker government would assist the ECP with provision of finances and security for the smooth process and assured to fullfil their constitutional duty.

About delay in Punjab and KP polls, the prime minister said that the matter did not pertain to the tenure of

the interim set up and referred to Article 254 of the Constitution which said that any delay or failure to comply with the legal requirement as to time, did not render an act invalid or unconstitutional because it happened late.

Explaining his view in response to a question by a student, the prime minister said that in Pakistan democracy was in the transitional period and it had not been a settled one like that of a European country where the democratic system had taken a shape. He said that for reaching to their destination, well defined principles should be laid down beyond the political considerations.

There should be informed discourse instead political dogfights on Tv screens, he said and regretted that certain social and political trends, kind of hate and abuse on social media platforms, had become a part of their lives.

Encouraging students to take bold decisions and engage in informed discourse over various challenges being faced by the country, the caretaker prime minister stressed that they should first explore themselves and then search for in what they believed.

To another query with regard to freedom of expression and rights, the prime minister mentioned that state had its constitutional rights and pointed out Article 5 of the Constitution which demanded for unconditional loyalty with the state. He said that everyone had to follow sets of rules and regulations oth-

Asim committed suicide due to ‘severe depression’, says Tariq Jamil’s elder son

ISLAMABAD: Yousaf Jamil, the elder brother of Maulana Tariq Jamil, has rejected the “negative” reports surrounding Asim’s death saying he died by suicide and did not have enmity with anyone. The religious scholar’s son committed suicide at his residence in Talamba, their native town in Punjab, the police had said following an initial investigation of the incident on Sunday. Yousaf, in a video message on Monday, said Asim was suffering from severe depression since childhood and his illness worsened in the last six months. He said his younger brother was undergoing Electroconvulsive Therapy (ECT) for his illness. “[But] giving an electric shock to him [Asim Jamil] did not help,” he added. Staff RepoRt

No surprise: SBP maintains policy rate at 22%, in line with market expectations CONTINUED FROM PAGE 01

Responding to a question in the analysts’ briefing regarding the impact of the global situation — the violence in the Gaza strip, and volatility in oil prices — the SBP governor said the committee was “very closely” monitoring international commodity prices.

“We see a number of positive things happening on the basis of which we expect the second half of fiscal year 2024 to be much better. The current stance is appropriate for [combatting] inflation and [encouraging] economic development,” he asserted.

POSITIVE REAL INTEREST RATE “We have taken into account all relevant factors and developments on the external, monetary and fiscal sides.

Based on that, two points we have consistently maintained are 1- The monetary policy stance will continue to be aggressive and tight considering the agreement we reached with the IMF, and 2- The rate will be positive on a forward-looking basis,” Ahmad said.

In simple words, the SBP expects the future inflation rate to be below the 22% interest rate it has decided to maintain. What exactly does this mean? Let’s say the interest rate offered by a bank on your deposited savings is 20%. If you kept Rs 1 lakh in that account, at the end of the year, you would have Rs 1.2 lakh. However, the annual inflation that year was 21%. This means that while the amount of money in your account increased, in real terms, you could buy less with that money because the cost would be Rs 1.21 lakh. This means the real interest rate was negative. If the real interest rate was positive — let’s say 23% — then you would have had Rs 1.23 lakh at the end of the year.

Positive real interest rates encourage people to save and keep their money in banks as it protects them from inflation. So, raising the benchmark interest rate to a point where the real interest rate is positive means less money is going towards purchases, which decreases demand — one of the primary tools a central bank uses

to curb inflation.

The Monetary Policy Statement also contained a caveat: its outlook is based on continued fiscal consolidation and timely realisation of planned external inflows. During the briefing, SBP Governor Ahmad said the country was expected to secure the release of the second tranche, amounting to $710 million, of the $3 billion Standby Agreement with the IMF, and would also receive funding from other multilaterals.

STRENGTHENING ECONOMY According to the Monetary Policy Statement, “recent data on economic activity reinforces the MPC’s earlier expectation of moderate growth for this year.” This data included a considerable increase in production of Kharif crops, moderate recovery in other key activity indicators like cement, petroleum and auto sales, and a gradual improvement in the large-scale manufacturing output in the first two months of the current fiscal year.

Separately, there was a “substantial improvement” in the current account deficit in the first quarter of fiscal year 2024, while both exports and workers’ remittances improved in September over the preceding two months, the MPS noted. Besides this, the rupee strengthened due to administrative actions by the authorities and the government, as well as the structural reforms introduced by the SBP for exchange companies, which improved sentiments and liquidity in the foreign exchange market. This led to increased inflows in the interbank market and stabilisation in the SBP’s foreign exchange reserves which stand at $7.49 billion as of October 20.

The SBP governor said the reserves would be shored up to $10 billion by June 2024, and the current account deficit was expected to be kept under $5 billion.

Responding to a question regarding a decline in currency in circulation, Domestic Market & Monetary Management Department Director Amin Lodhi attributed it to three reasons: unwinding of seasonal effects such as Haj, increase in deposits due to high interest rates, and declining economic uncertainty.

erwise, it would lead to chaos and anarchy in a society.

About incidents of May 9 in Pakistan, he said that in the US too, the protestors involved in the Capitol Hill violent incidents were charged with and handed down different sentences.

“We have to accept the legal consequences of an action as there is a due process,” he said, adding that it were the functions of the parliament to frame laws and acts. The caretaker prime minister observed that modernisation phase in the world has been undergoing a huge transformation because it was an era of Artificial Intelligence.

Explaining the purpose of his visit to LUMS, the prime minister said that he was visiting all the provincial metropolitans and looking for the solution based answers to the problems faced by the country. He said they were looking for different approaches to these challenges and needed human resources, and in this regard the educational institutions could be the contributors towards solutions.

Responding to a query, the prime minister sad that the interim set up was tasked to run the whole country which was going through the economic crunches and implementing an IMF programme.

He regretted that the majority of the people in the country were not contributing towards taxes as the tax ratio in Pakistan stood around 10 percent to GDP and stressed upon increasing the tax revenues like Scandinavian countries.

NEWS 03

Special anti-polio vaccination campaigns kick off in KP, Sindh and Balochistan ISLAMABAD: Special anti-polio vaccination campaigns were kicked off in Khyber Pakhtunkhwa, Sindh and Balochistan on Monday. According to details, a five-day antipolio campaign began in Peshawar, Khyber and Hangu districts of Khyber Pakhtunkhwa.

Emergency Operation Center Khyber Pakhtunkhwa said that more than one point two million children up to five years of age will be administered anti polio vaccine drops during the campaign. On the other hand, a week-long Polio eradication campaign also commenced in Karachi in which two point five million children up to five years will be administered with Polio drops and 12,414 vaccination teams have been constituted for the purpose. The campaign will continue till November 05, 2023. Meanwhile, a special anti-polio vaccination drive also began in 10 districts of Balochistan. According to Polio Emergency Operation Center, during the campaign about 7,80,000 children aged up to five years will be administered anti-polio vaccine drops. Polio vaccination campaign is being conducted in Awaran, Dera Bugti, Gwadar, Hub, Jafarabad, Naseerabad, Sohbat Pur, Khuzdar, Lasbela and Usta Mohammad districts. Staff RepoRt

Pakistan, US enjoying long-lasting educational ties, says Masood Khan

WASHINGTON: Pakistan’s Ambassador to the United States Masood Khan has stated that Pakistan and United States have long-standing educational ties and have been making efforts to strengthen their partnership in critical areas.

Interacting with a group of 15 mid-career Pakistani professionals in Washington, from public and private sector, who are currently visiting the United States under Hubert Humphrey Fellowship Program and pursuing their studies in various disciplines in leading US universities He said it is a great opportunity for Pakistani students and professionals to visit the United States and benefit from globally recognized seats of learning and hone their skills for better service delivery. On Pak-US relations, the Ambassador said that the two countries have recalibrated their relations after post-withdrawal period and have been making efforts to strengthen their partnership in critical areas. The Ambassador urged the public sector professional to keenly observe study and learn best practices, being followed by the US public sector institutions for improved service delivery. The Program brings mid-career professionals from developing countries, including Pakistan, to the United States for a year of study and professional experiences. Staff RepoRt

04 COMMENT

‘Come, let us reason together’

Tuesday, 31 October 2023

Ceding space

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Two unhealthy health appointments

N what would be a first, the federal health ministry looks intent to appoint two serving army officers as the heads of the two premier government hospitals in the federal capital.

As per reports, the health ministry is saying that the feeding cadre from which the posts of executive director for the two hospitals is to be drawn from, is short of qualified doctors. That seems like a bizarre claim, one that can be immediately verified by having a look at the rolls of the aforementioned cadre. But one doesn’t even need to go that far into the record room, or file an RTI for it. Because the ED post for both the hospitals is currently being held provisionally by the head of anaesthesiology at one of the two. At the very least, he could have been made permanent ED at one.

The Pakistan Medical Association’s Islamabad chapter has already warned the ministry against the imminent appointment at the Pakistan Institute of Medical Sciences (PIMS) and Polyclinic.

The move is wrong on a number of levels. First of all, is the principle of the matter. The feeding cadre should not be cheated out of such appointments; career doctors working in public health should be given a shot at running the hospitals they have served throughout their careers. More importantly - and this is not a comment on the competence of the Pakistan Army’s medical corps but could also apply to the medical branch of any army - public hospitals are a different kind of animal compared to the CMHs. The latter are well-equipped and even on their busiest days, there is little footfall. Public hospitals, on the other hand, are perpetually short of resources and almost a small town’s worth of people swarm in and out every single day. It is a high-pressure job and military men on any side of the border won’t be able to handle it.

And, lastly, is a question that should always be asked: when does it stop? Make an argument for this, and then the engineering corps’ argument for the provincial public works, irrigation & power departments would naturally follow. A case, in the deft hands of the current caretaker setup, could also be made, then, for the districts to be run and policed by serving military men. Not possible, because a cadre of PAS and PSP officers already exists for that? Well, it also exists for PIMS and Polyclinic, but here we are.

How salvation is earned

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HASAN AFTAB SAEED

HERE are two potent faculties in human beings. The first is passion; the second reason.

Often, they are thought to be in conflict with one another; and most men favour one at the cost of the other, depending upon their temperaments. The fact of the matter is, both are indispensable in that either has a distinct (and crucial) role to play in life.

Reason or rationality has traditionally received much bad press; from antiquity at the hands of Sufis and mystics, and more recently under the influence of Romanticism. These groups have always looked down upon reason, and have championed passion instead.

Passion, no doubt, has a role to play in life, and a vital one at that. But passion, though a useful driving force to achieve one’s ends, cannot be relied upon to decide what those ends ought to be in the first place.

It requires objectivity to distinguish true from false, right from wrong, worthy from worthless, and good from evil. That is strictly reason’s province.

As opposed to the mystic religions, the revealed religions put great stress on reason. This is less obvious than it should be because very few individuals bother to read their religious texts with their eyes open. This owes to various factors: plain indifference, the tendency of blind following, unhealthy amounts of reverence for ancestors, and plain intellectual laziness. Whatever the underlying cause, it manifests in an acute aversion to subjecting their beliefs and actions to any sort of scrutiny.

So it is that far too many otherwise well-meaning, religious individuals are apt to justify their unquestioning, uncritical following of the beliefs and practices of their elders on grounds that religion is supposed to be for everybody, and not just for the intellectuals and academicians; and therefore, reason cannot possibly have much to do with it. This is a ranked non-sequitur because while the premise (religion is for simple souls as well as the sophisticated types) is unassailable, it does not lead to the stated (or implied) conclusion. For, while understanding one’s religion does require the use of the brain (like

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

anything else worth understanding), it is by no means rocket-science which only a handful of mortals can wrap their heads around. Of course, there are levels to somebody’s understanding of religion: as a result of pondering on his religion, a simple man may very well get simpler answers to his questions than a more sophisticated man, but then his questions are that much simpler too.

In nine cases out of ten, these men are no simpletons, anyway – in fact, they are quite sharp, as evidenced by their general conduct in everyday life.

Like anything else in life, passing the test of consistency is crucial here. More often than not, this test is failed, giving the lie to the individual’s stated position on the issue.

Another common apology for not using reason in religious matters is that human beings are prone to making errors and therefore reason can lead one astray. This is scarcely better than the first excuse because while it is true that a man can err while reasoning, the way out of the error also happens to be reason alone; and certainly not blind following.

Criticism of those who justify their silly beliefs and practices on ‘grounds’ that they are merely following their forefathers, is one of the key themes of the Quran.

Both the Quran and the Bible put great stress on the need for men to ponder on their own selves, on the universe, and on history. The Quran keeps exhorting its readers to use their eyes, ears and intellects; and goes as far as declaring those who fail to do that as no better than beasts; in fact, even worse than them. Consider: “They have hearts that they do not understand with; and eyes they do not see with; and ears they do not hear with. They are like livestock; in fact, they are even further off track. They are heedless!” [8:22] and, “The worst of beasts in God’s sight are the deaf and the dumb, who do not reason.” [7:179] In the same vein, Isaiah 1:18 reads: Come, let us reason together,

A multipolar financial system Yousaf Nizami

Editor Umar Aziz M. A. Niazi Joint Editor

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Executive Editor

Are we moving towards de-dollarisation of the global financial system?

FAizA ABiD

OR nearly eight decades, the US Dollar (USD) has remained the primary global reserve currency. However, in recent times, due to growing concerns over dependency on the greenback, countries are looking towards alternative currencies for trade and other transactions, a phenomenon recognised as de-dollarisation or the end of the reign of dollar’s uncontested hegemony. According to IMF data, the dollar’s global share of central bank foreign exchange reserves has significantly reduced to 59 percent in 2023 from 72 percent in 2000. JPMorgan’s Global Research report states, “The risk of de-dollarisation, which is a periodically recurrent theme throughout post-war history, has returned into focus due to geopolitical and geostrategic shifts.”

Acceleration in the de-dollarisation trend is propelled by the amalgamation of political, economic, and strategic factors. For example, in the aftermath of the Russian invasion of Ukraine, the US enacted a cascade of sanctions against Moscow, which froze nearly 50 percent of Russian exchange reserves and excluded primary Russian banks from SWIFT. However, these economic sanctions, deemed as “weaponisation” of the dollar, have ironically led to the rise of a alternative financial architecture, primarily advanced by the two biggest geopolitical contesters of the US – Russia and China.

Russia has expeditiously increased its use of the Chinese Yuan to surpass the utilisation of the dollar as an intermediary. By the end of 2022, the share of Yuan reserves in the Russian National Wealth Fund marked 60 percent, and over 80 percent of the trade settlement between Beijing and Moscow now takes place in local currencies. Pakistan is also among the countries that have started to accept Yuan payments. Recently, Pakistan made its first-ever payment in Yuan in a government-to-government deal with Russia to import crude oil.

Moreover, Argentina has shown advancements in substituting the dollar for settling import payments.

Argentina’s imports, denominated in Yuan, surged to as much as 20 percent in April and May 2023, with authorised transactions worth $2.72 billion. India’s recent first-of-its-kind oil trade deal with UAE settled in Indian Rupee is another example.

With the transaction having been successful, a system of real-time payment between the two nations is under development.

Furthermore, the central topic of the 15th BRICS Summit was to redefine the role of BRICS in the global financial system. The emphasis was made on bilateral clearing and the use of local currencies in financial transactions between BRICS members and their trading partners. BRICS, set to include new members in January 2024, is poised to represent 36 percent of global GDP, surpassing the G7. According to

Economist Jean-Joseph Boillot, it depicts the potential of the bloc to bring about sizeable changes in the global economic order.

Internationalisation of other currencies would generate a diverse system of currency reserves, contributing towards global economic stability by diminishing the susceptibility to external shocks and fluctuations.

Additionally, it would enhance the financial autonomy of the issuing nations by preventing external interventions and providing greater flexibility in terms of policymaking. However, while assessing the global shift away from the dollar, it is crucial to analyse the risks and challenges attached to the internationalisation of other currencies.

Firstly, generating a viable substitute for the dollar presents a mounting challenge. While the Euro serves as a realistic alternative, what undermines its appeal is the fragmentation of European Sovereign debt markets. Similarly, Yuan faces the challenge of capital controls and limits to convertibility. Likewise, deteriorating Chinese legal protection and the underdeveloped bond market depict that the Yuan is far from reaching the required degree of stability and, most of all, acceptability.

Secondly, de-dollarisation could potentially lead to volatility in exchange rates, adversely affecting trade and investment for states with the least developed financial markets. Thirdly, developed economies, including China, Japan, and the UK, hold a sizeable amount of the US treasury securities, ascertaining the global dominance of USD. Besides, states like Pakistan, which are dependant on

Western-backed financial systems due to their economic vulnerabilities, also face the challenge of deciding whether to become a party to the de-dollarisation process or not. Should the dollar lose its reserve currency status, it would result in higher debt servicing due to increased interest rates on the government debt to compensate for exchange rate fluctuations.

Likewise, developing nations with trade deficits would not benefit from de-dollarisation as they would become dependent on the stability and policies of the alternative currency’s issuer.

Lastly, creating a rival global currency to the dollar is a formidable task. For instance, dedollarisation attempts at BRICS seem challenging due to economic, political, and cultural diversity within the members, making consensus-based decision-making a daunting task.

Thus, given the comparable advantages that accrue to a ubiquitous currency and the extensive US global network of alliances, rapid dedollarisation is full of obstacles. However, it is not an insuperable fantasy. A more probable and realistic evolution in the coming years is the replacement of the unipolar financial system with a more diversified and multipolar system, reflecting the economic and political realities of the current times. This would give rise to regionalism, forming distinct economic and financial spheres of influence with various currencies and markets assuming key positions.

Faiza Abid is a researcher at the Centre for Aerospace and Security Studies (CASS), Lahore.

She can be reached at info@casslhr.com.

Furthermore, the central topic of the 15th BRICS Summit was to redefine the role of BRICS in the global financial system.

The emphasis was made on bilateral clearing and the use of local currencies in financial transactions between BRICS members and their trading partners.

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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Passion, no doubt, has a role to play in life, and a vital one at that. But passion, though a useful driving force to achieve oneÊs ends, cannot be relied upon to decide what those ends ought to be in the first place. It requires objectivity to distinguish true from false, right from wrong, worthy from worthless, and good from evil.

That is strictly reasonÊs province. saith the Lord.

Though your sins be as scarlet, they shall be as white as snow; though they be red like crimson, they shall be as wool.

The road to ultimate success is a long and arduous one. It requires lots and lots of perseverance, for which passion is indispensable. But the journey starts when a man decides to shun all sources of prejudice and employ the reason at his disposal to arrive at the truth. This is how salvation is earned.

The author is a connoisseur of music, literature, and food (but not drinks). He can be reached at www.facebook.com/hasanaftabsaeed

Editor’s mail

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

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

Chaotic parking culture

QUETTA’S traffic infrastructure has long been a source of concern.

Narrow roads and inadequate facilities have frustrated both commuters and city planners for years. However, the most pressing issue exacerbating this problem is the ubiquitous presence of parked motorcycles lining the sides of these already cramped streets. The proliferation of motorcycles has undoubtedly added to the city’s congestion, but it is the haphazard parking of these two-wheelers that compounds the issue.

Mostly, this issue has its roots in a common practice where shopkeepers park their motorcycles haphazardly on the sides of the road.

Regrettably, this has set a troublesome precedent as others follow suit, leading to a pervasive problem.

While private parking facilities are available on virtually every street, people continue to choose the convenience of parking on the roadside.

Streets, already limited in width, become virtual obstacle courses as motorcycles occupy valuable road space. This results in reduced traffic flow, increased travel times, and frustration among motorists. For instance, GPO Chowk, one of Quetta’s busiest intersections, often resembles a parking lot.

It’s not uncommon to witness motorcycles parked on sidewalks, forcing pedestrians onto the road and further complicating the traffic scenario. Moreover, many motorcycles are parked without consideration for turning lanes, making it challenging for vehicles to navigate intersections safely. The consequences of this chaotic parking culture are far-reaching. Traffic jams are a daily occurrence, leading to lost productivity and increased fuel consumption. Emergency services face delays in reaching their destinations, putting lives at risk.

To address this issue, city authorities must implement and enforce better parking regulations. Designated motorcycle parking areas, stricter penalties for illegal parking, and public awareness are crucial steps in reclaiming smoother traffic flow and a safer city.

MARWAND RAZA QUETTA

Harmful treatment with children

IN the current circumstances, it has become alarmingly common to witness children being subjected to exploitation, bought and sold, engaged in menial tasks, and exposed to injustice and abuse. Regrettably, children are often seen as a means to earn money, which has a profoundly negative impact on both the children themselves and society at large. Such mistreatment leaves children feeling weak, vulnerable, and marginalized.

As a result, they may develop feelings of resentment, seek revenge, struggle to forgive, treat others poorly, and hold others responsible for their own circumstances. This perpetuates a cycle of negativity and hinders the overall progress and well-being of our nation. Education emerges as the only viable solution to eradicate these abhorrent practices. Only through education can we hope to put an end to the issues plaguing our society. By providing children with quality education, we equip them with the knowledge, skills, and values necessary to break free from the chains of exploitation and abuse. Moreover, love, compassion, and empathy are essential in addressing these deeply rooted problems.

By fostering an environment of empathy and compassion, we can create a society that values and protects its children, ensuring their safety, well-being, and development. I earnestly appeal to the rulers of our country to take immediate and decisive action to prevent this intolerable narrative from persisting. It is their responsibility to fulfil their role in eradicating these grave injustices and to prioritise the provision of quality education for all children.

By doing so, we can eliminate these pressing issues and empower individuals to make a positive difference in their own lives and the lives of others.

MARYAM FAHEEM KARACHI

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Where do we go from here?

Tuesday, 31 October 2023

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Dr AloN BEN MEir

HE unprecedented and unfathomable savagery that was inflicted by Hamas on 1,400 innocent Israeli civilians and off-duty soldiers has shaken to the core every human being with a conscience. Beyond that, it has also rattled the prevailing conditions between Israel and the Palestinians, making it impossible to return to the status quo ante.

This incomprehensible massacre offers, though under horrifying circumstances, an unprecedented opportunity to bring a gradual end to the Israeli-Palestinian conflict.

Those Israeli and Palestinian extremists who have been dismissive of each other’s right to exist in an independent state and in peace have now been awakened to the bitterest reality—that both sides are here to stay.

This unparalleled breakdown resulting from Hamas’s savagery has fundamentally changed the dynamic of the conflict and created a new paradigm that could lead to a breakthrough of historic proportions to reach a peace agreement based on a two-state solution.

This opportunity can be realized or lost depending on how well thought-out the post-war strategic plans that Israel (and its indispensable ally the US) puts in place are, which is of paramount importance, and without which the sacrifices and losses that innocent Israelis and Palestinians have sustained will be in vain. And once again, it will be only a question of not if but when the next horrific Israeli-Palestinian conflagration will befall.

INTRODUCTION: Since the 1967 Six Day War, many efforts have been made to reach a peace agreement between Israel and the Palestinians through mediation conducted by an impartial mediator, face-to face negotiations, international conferences, offering incentives, back-channel talks, interim agreements (in particular the Oslo Accords), and occasionally by an influential party exerting pressure on both sides, especially the US. As we know, none of the above approaches nor several others to reach a peace agreement have worked. The failures to reach an agreement are fundamentally attributed to the fact that both sides claim exclusive ownership to the entire land from the Mediterranean to the Jordan River, albeit they blame each other for failing to make the necessary concessions to reach a peace agreement.

While the prospect of a two-state solution was viable following the 1993 Oslo Accords, the outlook for such a solution became progressively dimmer as Israel moved to the right-of-center. Prime Minister Netanyahu, who was bent on sabotaging the Oslo Accords when he served as prime minister between 1996 and 1999, and has been in power for most of the past 15 years, made it clear repeatedly that there will be no Palestinian state under his watch. The idea of a two-state solution was steadily losing traction in Israel, the occupation of the West Bank was normalized, and a de facto apartheid state was created, which became a way of life for most Israelis and Palestinians.

THE CHANGING DYNAMIC OF THE CONFLICT: It is well known in conflict resolution that sometimes it takes a major breakdown that precipitates an extraordinary crisis to change the dynamic of a conflict. The shockingly unexpected and devastating Yom Kippur War in 1973, which subsequently led to a peace agreement between Egypt and Israel, offers a potent example. As such, it made it simply impossible to return to the status quo ante. Indeed, neither Israel nor the Palestinians, including Hamas, will be the same following this most heinous and unprecedented massacre and Israel’s retaliation that has already exacted (as of this writing) more than 7,000 Palestinian casualties—not to speak of the unimaginable death and destruction that will occur should Israel undertake a full-scale ground invasion of Gaza.

This unfolding horror should have been expected because of what was happening on the ground in the West Bank and Gaza over the past few years, especially in the last 10 months since the formation of the most extremist right-wing messianic coalition government in Israel’s history (as I pointed out in my article published on October 3, 2022). Indeed, it did not take a prophet to augur what would happen next. The increasingly violent flareups in the West Bank have been claiming hundreds of Palestinian lives, mostly under the age of 30, each year (so far this year nearly 300 West Bank Palestinians have already been killed, including 102 since October 7 (as of the time of writing). The frequent night raids, evictions, incarcerations, demolition of houses, and gross human rights abuses became the norm.

Despair, depression, and hopelessness swept much of the Palestinian population, akin to the gathering of a ferocious storm that successive Israeli governments led

by Netanyahu chose to brush off. Moreover, it is the psychological dimension of the conflict that has now come into full display, exposing decades-old mental and emotional trauma the Palestinians have been experiencing to which the Israelis were oblivious and which was bound to manifest in an unprecedented way.

The Palestinians’ resentment and hatred of Israel were intensifying. Since the new government could not formally annex Palestinians territories, it has resorted to intimidation and harassment of the Palestinians under the watchful eye of the criminal Minister of National Security Itamar Ben-Gvir, who gave the settlers free reign to rampage Palestinian communities in order to ‘encourage’ them to leave. The Netanyahu government’s intent to slowly annex much of the West Bank became abundantly clear. None of the above can justify under any circumstances Hamas’ heinous attack on Israeli civilians. Hamas must pay for it dearly, and pay they will. But such unthinkable carnage happened because of the perilous “strategy” that successive Israeli governments pursued that enabled Hamas and prevented the establishment of an independent Palestinian state.

This also explains why Netanyahu consistently refused to negotiate with any prospective unity government between the PA and Hamas.

THE CREATION OF HAMAS: Israel created Hamas to counter balance the secular national Palestine Liberation Organization (PLO) movement led by Yasser Arafat, which was intended to divide the Palestinians into two camps and prevent the creation of a Palestinian state. The creation of Hamas by Israel, which has been confirmed by many top Israeli military and civilian officials over a number of years, is unquestionable. Former Brig. Gen. Yitzhak Segev, who was the Israeli military governor in Gaza in the early 1980s, told a New York Times reporter that he had helped finance Hamas as a “counterweight”

to the secularists and leftists of the Palestine Liberation Organization (PLO) and the Fatah party, led by Yasser Arafat, stating “The Israeli Government gave me a budget and the military government gives to the mosques.” And among many others, Avner Cohen, a former Israeli religious affairs official who worked in Gaza for more than two decades, told the Wall Street Journal in 2009 that “Hamas, to my great regret, is Israel’s creation.”

In a 2015 interview, Bezalel Smotrich, the current finance minister who is also in charge of Coordination of Government Activities in the Territories (COGAT), stated “The Palestinian Authority is a burden, and Hamas is an asset” [emphasis added]. And in an article published in the New York Times on October 18, 2023, entitled “Netanyahu Led Us to Catastrophe. He Must Go.,” author Gershom Gorenberg stated that “Bringing Gaza back under the Palestinian Authority was apparently never part of the prime minister’s agenda. Hamas was the enemy and, in a bizarre twist, an ally against the threat of diplomacy, a two-state solution and peace.”

Indeed, no Israeli prime minister has pursued this disastrous policy of divide and conquer more vigorously than Netanyahu. Although he maintained the blockade over Gaza, he allowed the flow of hundreds of millions of dollars from Qatar and other countries into Hamas’ coffers, knowing full well that more than 50 percent of these funds were used by Hamas to buy and manufacture weapons, including tens of thousands of rockets, and build a massive network of tunnels with command and control while readying itself for the next war.

Gorenberg further stated that “In 2019, for instance, Netanyahu explained why he allowed the Hamas regime in Gaza to be propped up with cash from Qatar rather than have it depend on a financial umbilical cord to the West Bank. He told Likud lawmakers that ’whoever is against a Palestinian state should be for’ the Qatari funding…” Yuval Diskin, head of Shin Bet from 2005-2011, stated in January 2013 that “If we look at it over the years, one of the main people contributing to Hamas’s strengthening has been Bibi Netanyahu, since his first term as prime minister.” And in a more telling statement from someone who has been deeply immersed in Israeli politics and governance, Ehud Barak stated in August 2019, “His strategy is to keep Hamas alive and kicking… even at the price of abandoning the citizens [of the south] … in order to weaken the PA in Ramallah…”

Netanyahu’s ill-fated “strategy” was an illusion. He believed that he could control the monster that he nurtured over the years, which instead came back to slaughter hundreds of innocent Israelis who have been relying on their government for protection and were tragically let down.

They have been betrayed by a prime minister who has been fixated on bolstering Israel’s security in the West Bank while weakening the security of the southern front along the Gaza border. And while Netanyahu was sparing no efforts to ‘reform’ the judiciary, Hamas was planning, training, acquiring weapons, and perfecting the technique to wage the most daring assault against Israel that no one could have possibly imagined.

It all happened under Netanyahu’s watch. And worse yet, how is it possible that the world’s most renowned intelligence agency, Israel’s Mossad, failed to detect the planning of an attack of such magnitude that it took perhaps more than a year to prepare? And why did Netanyahu ignore the warning of Egypt’s Intelligence Minister General Abbas Kamel, who personally called Netanyahu and warned him that Hamas was likely to do “something unusual, a terrible operation” only 10 days before the attack?

I do not suggest or even imply that Netanyahu knew what was going to happen but chose to ignore it, but rather that he was simply dismissive of what Hamas is capable of and believed that he had a good handle on what was happening in Gaza. He was preoccupied with passing legislation that would subordinate the Supreme Court and the appointment of judges to elected politicians, which would have destroyed Israel’s democracy and allowed him to assume authoritarian powers, to which he badly aspired.

Although the Palestinians on the whole, be they in the West Bank or Gaza, are innocent civilians, the extremists among them have committed many egregious acts of violence against Israel. The Palestinian leaders missed many opportunities to make peace, and made countless mistakes that aggravated their own situation.

Moreover, by threatening Israel’s very existence, extremist groups such as Hamas and Islamic Jihad allowed successive Israeli governments to make a strong case against the Palestinians by portraying them as an irredeemable mortal enemy that poses the greatest danger to Israel’s national security and hence, the Palestinians cannot be a party to peace. With these perspectives established by the Israeli government, maintaining the occupation became the state policy, however unsustainable it has been deemed by any keen and informed observer.

First, Israel should not undertake a large-scale ground invasion of Gaza that will inevitably inflict massive destruction and thousands of casualties on both sides, especially Palestinian civilians, and put the lives of the hostages at a much greater risk. More than anything else, it is a dangerous illusion for Israel to assume that the invasion, regardless of its scale, will capture or kill all of Hamas’ leaders and senior operatives and prevent it from ever reconstituting itself both as a resistance movement and as a political entity.

Many of Hamas’ leaders have not lived in Gaza for years, or have recently fled. Most of Hamas’ commanders and ‘foot soldiers’ are embedded in the civilian community and a massive complex of tunnels while lying in wait for the ground invasion, in order to kill and injure hundreds if not thousands of Israeli soldiers. They know full well that they will sustain massive casualties and destruction, but they will only technically lose the war and can still reconstitute themselves regardless of the immense losses they might sustain.

Israel simply cannot eradicate a religious movement or obliterate an ideology. And to suggest, as Israel’s Defense Minister Yoav Gallant recently stated, that “we will wipe them [Hamas] off the face of the earth,” is an illusion. Even if Israel manages to decapitate every senior Hamas leader, it will be only a question of time when a new generation of Palestinian leaders will rise. If Israel reoccupies Gaza to prevent Hamas from reconstituting itself, it will be sheer madness, a quagmire from which Israel cannot exit without incurring massive casualties. Moreover, Israel will have to care for 2.2 million Palestinians, coupled with a relentless insurgency by Palestinian militants bent on killing and maiming Israeli soldiers, which will make the lives of the Israeli forces a living hell.

The urge for revenge and retribution following the massacre of 1,400 Israelis is perfectly understandable, and in the minds of many, revenge is the only way to assuage the unbearable pain that so many Israelis are living with. But then the inevitable death of hundreds of young Israeli soldiers, should Israel decide to invade Gaza, will only add to the national tragedy and offer no solution.

The death of thousands of innocent Palestinians will not bring to life one single Israeli who died on the altar of a government that failed its people.

The better path for Israel is to pursue targeting killings, and to save face, engage in a limited incursion into northern Gaza, keep Hamas’ leaders on the run, and cut off the flow of money, while focusing on releasing the hostages.

Israel must make it publicly and unequivocally clear that its fight is against Hamas and not against innocent Palestinian people. Furthermore, Israel ought to facilitate the delivery of all the basic necessities, especially drinking water, medicine, food, and under strict monitoring by UN observers, fuel to generate electricity and feed generators. But since Israel cannot eliminate Hamas, it can only weaken it to a point where it is effectively inoperative by providing an alternative that will dramatically improve the lives of the Palestinians and offer them a promising path for the future.

Second, Israel should come to terms with the inevitability of a Palestinian state and inform the US and Saudi Arabia that it is willing to negotiate a peace agreement with the Palestinians in the West Bank based on a two-state solution. I do not expect that the current Israeli government led by Netanyahu will be willing or able to change its stripes and make such a giant leap forward.

Nevertheless, sooner perhaps rather than later, there will be a new government in Israel and a new Palestinian Authority in the West Bank. They should begin to engage, under the auspices of the US and Saudi Arabia, in a peace process accompanied from the onset by a process of reconciliation, both government-to-government and people-to-people, to mitigate the pervasive hatred and distrust between the two.

An Israeli-Palestinian peace agreement in the West Bank that would lead to a dramatic improvement in the living standard of the population and a growing sense of security will be the most potent weapon against Hamas.

Hamas will have to choose between joining the peace process by first recognizing Israel’s right to exist, or remaining under blockade. The Palestinians in Gaza will be well aware of the changing fortune of their brethren in the West Bank and will not accept a continuing life of despondency and despair in Gaza. Hamas being on the run and with depleting resources to deliver what the people need will be hard pressed to change direction, or else face the wrath of the people. Hamas’ claim that the Israelis are the cause of their suffering will no longer resonate.

In the final analysis, the creation of an independent Palestinian state will be strengthened and peacefully sustained through the establishment of an Israeli-Palestinian-Jordanian confederation, once a Palestinian state is first established. Indeed, given the interspersed Palestinian populations in the West Bank, Jerusalem, Israel proper, and Jordan, the geographic proximity of the three states, their unique religious affinity to Jerusalem, and their intertwined national security, they together make it not only possible but necessary to establish such a confederation where all three countries will collaborate on a host of issues to serve their national interests.

Some will say that this is a glaringly naïve proposal and, in any case, this is the wrong time to talk about a two-state solution. Naïve or not, I challenge anyone to tell me what is the path forward? What is the alternative?

Where does Israel go from here? The Palestinian problem will not simply disappear; they are not going anywhere and they are more determined today than any time before to unshackle themselves from the occupation.

Their quest for statehood is supported by the entire international community, including the US, and if anything, the unfolding tragedy and its inescapably horrifying consequences made the need for a solution ever more urgent. And if not now, then when?

Third, the development of a major economic development program is critical to sustaining any IsraeliPalestinian peace in the West Bank. What is needed is a sort of a Marshall Plan for the West Bank to be financed by the Gulf states, the US, and the EU. Such a program should be at the center of the peace process to relieve the people of their economic hardship. The West Bank is in desperate need of better infrastructure, schools, and hospitals. Such national projects would also provide job opportunities for the tens of thousands of unemployed youths.

Moreover, since the Palestinian refugees have and continue to play a major role in the search for a resolution to the Israeli-Palestinian conflict, a solution to the Palestinian refugees must be found based on resettlement

An Israeli-Palestinian peace agreement in the West Bank that would lead to a dramatic improvement in the living standard of the population and a growing sense of security will be the most potent weapon against Hamas.

Hamas will have to choose between joining the peace process by first recognizing IsraelÊs right to exist, or remaining under blockade.

WHAT’S NEXT: That said, once the war is over and the dust settles, a growing majority on both sides will come to recognize one irreversible fact. Co-existence is not one of many options, it is the only option, be that under conditions of peace or perpetual violent enmity. The two-state solution has come back to the table, as it has always been the only viable option. Both sides must now face this bittersweet reality.

The question is what will happen now that Israel and Hamas are poised to engage in fierce fighting on the ground that will surely exact an immense toll on both sides. I maintain that whether Israel undertakes a largescale ground invasion of Gaza, or a partial incursion into its northern part, or continues its targeted bombing of Hamas’s encampments while seeking to decapitate as many of its leaders as possible, or simply stops the fighting and focuses on releasing the over 200 hostages, nothing will change in any substantial way the irreversible new paradigm that has bitterly awakened both sides to their miserable, unsustainable status quo.

To be sure, what option the Israeli government will choose to bring an end to the conflict will only define the length of time that that might take, the extent of difficulties in the negotiation, the modalities of the negotiating process, the level of public and international pressure to find a solution, and the likely intermittent violence. But none of these issues will change the fundamental point of departure that point to the endgame of a two-state solution, regardless of how many more hurdles might be encountered.

There are five measures the Israeli government, along with the US and Saudi Arabia, should put in place to move the peace process forward.

and/or compensation. A solution to this and other conflicting issues, including the future of Jerusalem, which have stymied peace negotiations in the past and remain contentious issues, can be and in fact must be resolved.

The inevitability of coexistence and the inescapable need for a peace agreement based on a two-state solution, coupled with a commitment by a new Israeli government, the Palestinian Authority, and the US’ determination to that end, will facilitate a solution to these conflicting issues, however intractable they may seem at this juncture.

Fourth, Saudi Arabia should play a front and center role, at the urging of the US. Saudi Arabia, which has been negotiating normalization of relations with Israel behind-the-scenes and has linked normalization to the establishment of a path that will solve the Israeli Palestinian-conflict, should publicly state so once the war ends. This will not only assure the Palestinians that they will not be abandoned, but it will also send a clear message to the Israelis that they now have a historic opportunity not only to end the Israeli-Palestinian conflict but open up the door wide to normalization of relations between Israel and much of the Muslim world.

The Saudis and every Arab state in the region know that as long as there is no solution to the Israeli-Palestinian conflict, instability will continue to rattle the region, making normalization of relations with Israel tenuous at best. Moreover, Israel must remember that regardless of how the Saudis and other Arab states feel toward the Palestinians, in any violent confrontation between Israel and the Palestinians, as demonstrated in the current conflagration, they will always land on the Palestinians’ side.

And even though the Israel-Hamas war started because of the horrific massacre of Israelis, the Arab public throughout the region and beyond is sympathizing with the Palestinians. It is the death of thousands of innocent Palestinians in Gaza that is capturing headline news now, not the indescribably horrendous massacre of Israelis.

Thus, the greater the casualties and destruction inflicted on Gaza, the harder it will be for the Saudis to resume negotiations over the normalization of relations with Israel. Normalization can serve as the conduit for Israeli-Palestinian peace, which will be deferred for years if not lost entirely unless Israel weighs carefully what will happen next if the war spins completely out of control. But then again, it is up to Israel and the US— which will have a say on this matter as Israel today cannot simply say NO to the US—to ensure that the war does not cripple the prospect of normalization between Israel and other Arab states.

Fifth, the US paying lip service to the idea of a twostate solution must now be acted upon. Successive American administrations have demonstrated consistent support of Israel and the US became the de facto guarantor of Israel’s national security. No US president, however, has demonstrated in words and deeds the US’ commitment to Israel’s security and prosperity more than President Biden. His visit to Israel in the moment of unprecedented national grief, pain, and anguish, and his dispatch of formidable American forces to the region, including two aircraft carriers to deter Israel’s sworn enemies and prevent the escalation of the war, sent an unambiguous massage that has not been lost on Iran and Hezbollah.

Although Israel is receiving annually $3.8 billion in military aid from the US, at no time in recent memory has Israel found itself so dependent on the US for additional military aid and political backing, as well as financial assistance. Israeli National Security Minister Ben-Gvir’s statement earlier this year that Israel is “not another star on the American flag. We are a democracy and I expect the U.S. president to understand that,” is no less stupid than his boss Netanyahu, who stated earlier this year that “Israel is a sovereign country which makes its decisions by the will of its people and not based on pressures from abroad, including from the best of friends.” Now the Israeli government recognizes how indispensable America is, forcing it to listen carefully to what President Biden is recommending, which is clearly against waging a massive ground invasion without very diligent consideration of what comes next, which will otherwise be catastrophic by any account.

Thus, President Biden is now in a position, more than any of his predecessors, to exert significant influence over Israel. There is no better time for the US to formulate a plan that would begin a peace process and stick to it regardless of what transpires on the ground.

By providing Israel all it needs to protect itself and maintain a military edge over its adversaries and now to prevail in this war, the US becomes complicit to Israel’s conduct in Gaza. This is also applicable to the occupation of the West Bank, which is inconsistent with the US’ formal position. Therefore, the US should make it clear to Israel that given America’s unflagging support, it is seen as a party to the occupation which must end, and with that bring an end to the vicious cycle of violence which has been consuming both sides for 75 years.

Consequently, it is time for the Biden administration to translate the lip service that the US has customarily been paying to the two-state solution into a plan of action.

Upon his return from Israel, President Biden reiterated that the two-state solution is the only realistic option. And however far-fetched this may seem to Israelis and Palestinians at this juncture, President Biden must begin to press the issue and pave the way for serious negotiations, albeit he has to wait for Netanyahu’s exile from the political scene, which may well happen sooner than later.

CONCLUSION: The horrifically unfathomable massacre of Israelis happened under the watch of the most extremist, corrupt, messianic, and perilously delusional government in Israel’s history. Netanyahu, the self-absorbed character who excels in his capacity to collude and conspire, is a coward, whose desperation to cling to power knows no bounds. He has lost his legitimacy to lead the country in an hour of unparalleled crisis to which he contributed due to his dereliction of duty, misguided policies, and blindness that precipitated an unprecedented national disaster.

Israelis must demand that Netanyahu resign now to prevent him from initiating or influencing any strategy in conducting the war against Hamas. He will do anything, however sinister and uncanny, to cover up for his disastrous mistakes which led to a catastrophe the likes of which Israel has never experienced since its creation.

As the architect who has been shaping the contours of the Israeli-Palestinian conflict for the past 15 years, he must now answer the simple question: is Israel better off today in its relations with the Palestinians than it was 15 years ago? The answer is a clear NO. Netanyahu poses a greater menace to Israel than Hamas.

The breakdown in the Israeli-Palestinian conflict can dawn a historic breakthrough to reach at last a peace agreement. There is no need for even one more Israeli or Palestinian child to die on the altar of misguided leadership on both sides. The Israeli and the Palestinian publics must rise in unison pour into the streets by the hundreds of thousands and scream: Enough is Enough.

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

06 NEWS

SOUTH AFRICA CALLS FOR UN FORCE TO PROTECT CIVILIANS IN GAZA

S

GAZA

AGENCIES

OUTH Africa on Monday called for the United Nations to deploy a rapid protection force to protect civilians in the Palestinian enclave of Gaza from further bombardment as Israel steps up its retaliation for a deadly attack by Hamas.

South Africa has long been an advocate for peace in the region, likening the plight of Palestinians to its own under the apartheid regime that ended in 1994.

In calling for a protection force, South Africa has gone further in its support for the Palestinians than most nations, some of which have called for a ceasefire or the opening of a humanitarian corridor to allow aid into Gaza.

Israel has tightened its blockade and bombardment of Gaza since Hamas fighters stormed into Israel on Oct 7 and killed some 1,400 people.

Palestinians in Gaza reported fierce air and artillery strikes early on Monday.

“Entire generations of families have been wiped out in Gaza over the last three weeks,” the foreign ministry said in a statement.

A member of the Palestinian community in Johannesburg had 25 family members killed in an Israeli air strike on Monday morning, the statement said, while family members of a senior Palestinian diplomat in South Africa were killed in their apartment building the day before.

“The numbers of non-combatants killed, especially the numbers of children killed, requires that the world to show that it is serious about global accountability,” the statement said. Medical authorities in Gaza said earlier today that 8,306 people had been killed in the three-week war.

South African President Cyril Ramaphosa has previously offered to help mediate in the conflict.

South Africa also said earlier this month that its foreign minister held a call with the leader of Hamas about getting aid into Gaza, while underlining that it did not support the group.

Bank of Punjab to set up exchange company with Rs2.5bn initial capital g

SBP HAS RECENTLY ISSUED NOC TO ABL AND MCB FOR ESTABLISHING THEIR EXCHANGE COMPANIES PROFIT

NEWS DESK

The Bank of Punjab (BOP) has decided to join the ranks of other prominent banks in the country by establishing its wholly-owned exchange company with an authorized capital of Rs2.50 billion.

In a stock filing at the Pakistan Stock Exchange (PSX) on Monday, the Bank of Punjab said that its board, in their meeting held on October 28, 2023, has approved the establishment of an exchange company in the view of current market potential, future expansion, and recently introduced structural reforms by the State Bank of Pakistan (SBP) in the exchange companies sector. However, establishing the exchange company is contingent upon approval from the State Bank of Pakistan (SBP) and full compliance with pertinent laws and regulations.

BOP’s initiative is a crucial component of a wider campaign by the State Bank of Pakistan (SBP) aimed at curbing illicit activities within the underground market. The SBP has recently introduced structural reforms within the exchange company sector to enhance regulatory oversight, bolster governance frameworks, fortify internal controls, and tighten compliance protocols.

Furthermore, the SBP has raised the minimum capital requirement for exchange companies from Rs 200 million to Rs 500 million, with the additional stipulation that the capital must be unencumbered by prior losses. Earlier, major banks including United Bank Limited (UBL), Meezan Bank, MCB Bank Limited (MCB), Bank AL Habib (BAHL), Allied Bank Limited (ABL), Faysal Bank Limited (FABL), Bank Alfalah (BAFL), Habib Metropolitan Bank and Askari Bank Limited announced to established their own forex companies. The SBP has recently issued noobjection certificate (NOC) to ABL and MCB for establishing their exchange companies. Allied Bank’s exchange company will be named ABL Exchange Company (Private) Limited and MCB’s as MCB Exchange Company (Private) Limited.

Notably, Habib Bank Limited (HBL) and the National Bank of Pakistan (NPB) had ventured into exchange companies before the implementation of these new SBP regulatory measures.

Graphic pro-Israel ads make their way into children’s video games Maria Julia Cassis was sitting down to a meal in her terraced home in north London when her six-year-old son ran into the dining room, his face pale.

The puzzle game on his Android phone had been interrupted by a video showing Hamas fighters, terrified Israeli families and blurred graphic footage.

Over a black screen, a message from the Israeli Ministry of Foreign Affairs told the first grader: “WE WILL MAKE SURE THAT THOSE WHO HARM US PAY A HEAVY PRICE.” Cassis, a 28-year-old barista from Brazil, said that the ad left her son shaken and she quickly deleted the game.

“He was shocked,” she said in a telephone interview last week. “He literally said, ‘What is this bloody ad doing in my game?’”

Reuters has not been able to establish how the ad came to her son’s video game, but her family isn’t alone. The news agency has documented at least

five other cases across Europe where the same pro-Israel video, which carried footage of rocket attacks, a fiery explosion, and masked gunmen, was shown to gamers, including several children.

In at least one case, the ads were played inside the popular “Angry Birds” game made by SEGA-owned developer Rovio.

Rovio confirmed that “somehow these ads with disturbing content have in error made it through to our game” and were now being blocked manually.

Spokesperson Lotta Backlund did not provide details on which of its “dozen or so ad partners” had supplied it with the ad.

Israeli Ministry of Foreign Affairs’ head of digital, David Saranga, confirmed that the video was a governmentpromoted ad but said he had “no idea” how it ended up inside various games.

He said the footage was part of a larger advocacy drive by the Israeli Foreign Ministry, which has spent $1.5 million on internet ads since Hamas’ October 7 attack in southern Israel touched off a conflict in Gaza.

PKR continues slide against USD for sixth consecutive session g

AS PER SBP, LOCAL UNIT SETTLED AT 280.95, REFLECTING A DECREASE OF RE0.38 IN INTERBANK PROFIT

NEWS DESK

The Pakistani rupee showed a consistent trend of depreciation against the US dollar, marking the sixth consecutive session of losses in the inter-bank market on Monday.

According to data shared by the State Bank of Pakistan (SBP), the rupee settled at 280.95, reflecting a decrease of Re0.38.

During the previous week, the rupee experienced a decline of 0.63% against the US dollar, amounting to a decrease of

Rs1.77 in the inter-bank market.

The week began at 278.80 and concluded at 280.57.

On the same day, the Pakistani rupee also faced depreciation in the open market.

Currency dealers reported exchange rates of 282.5 for selling and 279.5 for buying.

In the previous week, the local currency observed a 1.00 rupee decrease for both buying and selling against the US dollar, eventually closing at 278.50 and 281.50, respectively.

The recent fluctuation comes

after a remarkable 28-day winning streak for the Pakistani currency, which concluded on October 17, 2023.

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

Path to San Francisco won’t be an easy one, no self-driving to it: Wang Yi WASHINGTON

STAFF CORRESPONDENT

When noting that China and the US agreed to work together for the meeting between the two heads of state in San Francisco, Chinese foreign minister Wang Yi said on Saturday that “the path to San Francisco” will not be an easy one, and there is “no selfdriving to it.” Therefore, both sides need to earnestly “return to Bali [consensus],” truly implement the common understanding reached by the two leaders, remove disruption, overcome obstacles, build consensus, and accumulate outcomes, Wang said.

Chinese analysts believe this signals Beijing’s discontent with Washington’s lack of sincerity and efforts in stabilizing China-US ties. The US recent moves of reaching out to China mainly serve for convening a grand APEC meeting, yet falls short of responding to China’s core concerns, warned Chinese observers. They said Wang’s comment that there is “no self-driving” to San Francisco is a reminder to the US to rein in its toxic domestic politics that are highly antagonistic of China; and that high-level communication between China and the US won’t come “automatically” unless the US makes more efforts.

Despite the various differences and contradictions between the two countries, and there are still many issues that need to be resolved, both sides believe that maintaining dialogue between the two major countries is beneficial and necessary. They both hope that bilat-

eral relations can stabilize and strive for improvement as soon as possible, Wang, also member of the Political Bureau of the Communist Party of China Central Committee, said in a discussion with members of the US strategic community in Washington on Saturday.

Wang also held talks with representatives from US business circles in Washington on Saturday. Wang stated that the driving force for cooperation between China and the US remains strong, the foundation remains solid, and the space for cooperation remains vast.

He expressed the hope that everyone will seize the new opportunities offered by China’s high-quality development and high-level opening-up, play a role as a ballast stone in economic and trade cooperation, cultivate friendly public opinion and social foundation between the two countries. Wang held two rounds of talks with Blinken on Thursday and Friday, during which the two sides agreed to work together toward a meeting between the two heads of state in San Francisco.

When he met with the US President Joe Biden on Friday, Wang said that his visit is aimed at communicating with the US side to follow through on the important common understandings reached by the two heads of state, and proceed from the Bali summit towards a San Francisco summit, so as to prevent bilateral ties from further deteriorating and bring the China-US relationship back on the track of healthy and steady development at an early date.

From Wang’s remarks and recent news reports, it is clear that China is not satisfied with US’ sincerity and efforts in improving the bilateral ties, Wu Xinbo, director of the Center for American Studies at Fudan University, told the Global Times. Wu pointed out that the recent eagerness from the US to reach out to China is partly due to Biden’s hope of hosting a grand APEC leaders’ meeting; but the US failed to address issues concerning China’s core interests. Via a grand meeting, Biden tries to send a signal to US’ domestic audience that Biden is capable of stabilizing China-US relations while engaging in intense competition with Beijing, said Wu.

Tuesday, 31 October, 2023 | ISLAMABAD

Dr. Kashif Moten provided free consultation to over two thousand patients on mental health deploying latest technology for mental health and wellbeing at 20th Health Asia Exhibition at Karachi Expo Center. PR

Pakistan Services Limited holds a Corporate Briefing Session

Pakistan Services Limited (PSL) conducted its fourth Corporate Briefing Session at the Islamabad Marriott Hotel on Friday 27th October 2023, in compliance with the directives of the Pakistan Stock Exchange.

The Senior Management of the Company, including the Vice Chairman of Hashoo Group and Director of the Company, Mr. Mohammad Akhtar Bawany; Chief Financial Officer, Mr. Tahir Mahmood; Company Secretary, Mr. Muhammad Amir; and Board Members, Mr. Shakir Abu Bakar, Mr. M. Ghazali Marghoob, Mr. Rohail Ajmal, Mr. Shahid Hussain, and Mr. Saleem Ahmed Ranjha, were present at the event. The event was also attended by Chartered Accountants, Corporate Law Professionals, Lawyers, and members of the Company. Mr. Amir, Company Secretary, opened the program by presenting a brief profile of PSL and shared corporate information about the Company. He then shared the journey to the success of PSL and mentioned that PSL was incorporated in December 1958 and became a part of Hashoo Group in 1985. PR

Xiangshan Forum: Russia’s Shoigu accuses West of seeking to expand Ukraine war to Asia-Pacific BEIJING

AGENCIES

Russian Defence Minister Sergei Shoigu said the West wants to expand the conflict in the Ukraine to the Asia-Pacific region, Russian state media reported, citing comments made at a Beijing defence forum on Monday.

Speaking at the Xiangshan Forum, China’s biggest military diplomacy event, Shoigu said NATO is covering up a build-up of forces in the Asia-Pacific region with an “ostentatious desire for dialogue”, Russia’s TASS news agency reported.

Shoigu said NATO countries were promoting an arms race in the region, increasing their military presence and the frequency and scale of military drills there.

US forces will use information exchanges with Tokyo and Seoul on missile launches to deter Russia and China, Shoigu said. He also accused Washington of trying to use climate change and natural disasters as an excuse for “humanitarian interventions”.

Shoigu said the emergence of new security blocs such as the Quad and AUKUS undermined the role of the Association of Southeast Asian Nations (ASEAN) and nuclear non-proliferation efforts in the region.

At the same time, he said, Russia’s move to revoke its ratification of the Comprehensive Nuclear-Test-Ban Treaty did not mean the end of the agreement, and Russia was not lowering its threshold for the use of nuclear weapons. “We are only seeking to restore parity with the United States, who have not ratified this treaty,” Russia’s RIA news agency quoted Shoigu as saying. “We are not talking about its destruction.”

Shoigu said that Moscow was ready for talks on the post-conflict settlement of the Ukraine crisis on further ‘co-existence’ with the West, but that Western countries needed to stop seeking Russia’s strategic defeat. Making clear the conditions for such talks were not in place yet, Shoigu said: “It is also important to ensure equal relations between all the nuclear powers and permanent United Nations Security Council members who carry special responsibility for upholding peace and global stability.”

PID (I) NO 2600/23

Tuesday, 31 October, 2023 | iSlAmAbAd

CORPORATE CORNER OGDCL's 26th Annual General Meeting for FY 2022-23 Convenes

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) held its 26th Annual General Meeting (AGM) for shareholders on Monday for the financial year 2022-23 at the OGDCL Head Office in Islamabad. The meeting was chaired by the Chairman of the Board of Directors, OGDCL, Mr. Zafar Masud. The Managing Director & CEO of OGDCL, Mr. Ahmed Hayat Lak, along with other board members, senior management, and shareholders, were in attendance.OGDCL further solidified its position as the market leader, achieving net sales revenue of PKR 413.594 billion. This translated to a profit after tax orf PKR 224.617 billion, showing a robust increase of 59 percent compared to last year's profit of PKR 133.783 billion. The earnings per share of the Company surged to PKR 52.23, up from PKR 31.11.For the year 2022-2023, the Board announced a final cash dividend, based on the accounts for the period ending June 30, 2023, at a rate of PKR 2.75 per share, equivalent to 27.50 percent. This is in addition to the interim dividends already paid at a rate of PKR 5.80 per share, amounting to 58 percent. During the review period, the Company paid PKR 159.154 billion in taxation. PR

Creating a Safer Digital Space: TikTok holds Mental Health Awareness Workshop

ikTok, the world's leading short-form video platform, held a Mental Health Awareness Workshop in Lahore as part of TikTok's wellbeing campaign, #MentalHealthAwareness - Better Together, aimed at raising awareness about mental health issues and promoting digital literacy in this vital area.World Mental Health Day (WMHD) is observed each year in the month of October, serving as a global platform to address the significance of mental health and the challenges it poses in contemporary society. This year's WMHD theme, "Mental Health is a universal human right," emphasizes the importance of equitable access to mental health services. TikTok took this opportunity to engage its community and promote open dialogue around mental well-being, empowering individuals to discuss and address these crucial topics.In addition to WMHD, October is also recognized as National Cyber Bullying Awareness month. TikTok extended its campaign to create a safer and more positive digital environment for all users. PR

Gas Theft Crackdown: 109 More Disconnections, Rs. 1.7M Fine, 184 Underbilling Cases Handled

LAHORE: During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 109 connections while imposing fine of Rs. 1.7 million and 184 under billing cases processed In Lahore, the regional team disconnected 7 connections on illegal use of gas and another 6 on use of compressor. In Bahawalpur, the regional team disconnected two connections on use of the compressor and 1 on illegal use of gas. The company disconnected 4 connections on illegal use of gas and 123 Under billing cases have been processed and fine of Rs 0.23 Million imposed against gas pilferers in Multan. In Sheikhupura, 14 on illegal use of gas and 49 Under billing cases have been processed, amount of Rs 0.75 booked against gas theives and Under billing cases.PR

NTDC secures land for construction of 220kV Grid Station in Gujranwala

LAHORE: National Transmission and Despatch Company (NTDC) has successfully acquired 369 kanal (46.125 acres) land for construction of a 220 kV grid station in Gujranwala.Land Acquisition Collector (NTDC) awarded land measuring of 369 kanals under Section-11 on October 26, 2023, which is the final stage of land acquisition under the Land Acquisition Act, 1894. Director General (Land) NTDC, was also present at the site of the future grid.The establishment of 220 KV grid station at Gujranwala will improve the voltage profile of the area, it will also benefit the domestic, industrial, commercial and agricultural consumers and help to meet the growing demand for electricity in the area.Managing Director NTDC, Engr. Dr. Rana Abdul Jabbar Khan appreciated the efforts of the NTDC team, which remained in continuous liaison with the local administration to complete the land acquisition process. PR

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THE COMPETITION COMMISSION’S COMPETITION: LAWYERS WITH STAY ORDERS newS

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STAY ORDERS ON 559 CASES HINDER PROCESS OF DECARTELIZATION PROFIT

GHULAM ABBAS

staggering 68 billion rupees in penalties imposed by the Competition Commission of Pakistan (CCP) across the last few years, remains ensnared in the clutches of 559 pending cases scattered across various courts.

In the recent past, the Special Investment Facilitation Council (SIFC), a joint-venture of the government and the military, has taken decisive actions to clamp down on speculative forex trading and smuggling of petroleum products and sugar which has yielded positive outcomes. These actions have effectively driven down commodity prices and led to the appreciation of the Pakistani Rupee (PKR).

However under the Constitution of Pakistan, it is the Competition Commission of Pakistan (CCP) that has the mandate to curb cartels and mafias. The CCP in this regard, has taken decisive actions in sectors such as sugar, wheat, cement, poultry, automobile, cooking oil, agriculture, oil & gas, ports, shipping, power, insurance, steel, and aviation.

As per CCP, even after repeated actions and penalties imposed by the commission there is no immediate drop in prices in various sectors of high public importance. This is because the parties obtain the stay orders in cartel cases for a long period of time.

CCP has imposed fines worth Rs. 6.3 billion in the cement sector, over Rs 11 billion in the telecom sector, over Rs 1 billion in electronic goods sector, Rs. 140 million in automobile sector, Rs. 300 million in insurance sector, Rs. 75 million to flour mills associations, and Rs. 44 billion in the sugar sector. Total penalties imposed by CCP amount to approximately 68 billion rupees.

Presently, there are a total of 559 cases pending in various courts. Among these, 170 cases are pending in the Supreme Court, where the constitutionality of the Competition Act, 2010 has been challenged. Additionally, 210 cases await resolution in the Competition Appellate Tribunal, which is dysfunctional due to lack of appointment of Chairman Appellate Tribunal.

Lack of appointment of Chairman Competition Appellate Tribunal have also resulted in CCP being bombarded

with writ petitions in High Courts.

For instance, in the sugar sector, CCP initiated an investigation in 2020 and discovered that members of the Pakistan Sugar Mills Association (PSMA) collectively took commercially sensitive decisions. Such decisions included reducing domestic sugar stocks, which led to the increase or stabilisation of desired sugar price levels.

In its 2021 Order, CCP imposed a penalty of Rs. 44 billion on PSMA and its members. Presently, this case remains pending in the Supreme Court, the High Courts of Lahore and Sindh, and the Competition Appellate Tribunal.

Moreover, in 2019, CCP found the Pakistan Flour Mills Association (PFMA) guilty of violating the law and imposed a fine of Rs. 75 million. PFMA had been found guilty of fixing wheat flour prices, facilitating the exchange of commercially sensitive information, and manipulating the quantities of wheat flour production. The case is still pending in the Competition Appellate Tribunal.

In 2022, CCP imposed a fine of Rs. 1.1 billion on two home appliances firms for engaging in resale price maintenance (RPM) agreements with their dealers.

Through these arrangements, they restricted their dealers from offering discounts to consumers. The case is also currently pending in the Competition Appellate Tribunal.

Similarly, in 2015, CCP imposed a fine of Rs. 140 million on the Pakistan Automobile Manufacturers Authorised Dealers Association (PAMADA). This penalty was levied after CCP discovered that the association had been overcharging consumers by artificially fixing prices for their products and services. The case is pending in the Lahore High Court.

In 2013, CCP successfully dismantled a cartel that had been manipulating the prices of incoming international calls. In its ruling, CCP nullified the International Clearing House (ICH) Agreement among 14 LDI (long distance and international) operators.

Subsequently, CCP imposed substantial penalties, such as 7.5% of the annual turnover on each LDI, Rs. 8.30 billion on PTCL, Rs. 534 million on Worldcall, and Rs. 189 million on Telecard. The case is pending in both the Competition Appellate Tribunal and Sindh High Court.

Tax collection above target first time in 14 months: Shamshad Akhter KARACHI

STAFF REPORT

In a significant economic development, Pakistan's tax collection has surpassed its targets, and for the first time in 14 months, notable growth in the large-scale and power sectors is recorded. Finance Minister Dr. Shamshad Akhtar shared these encouraging views during her address to industrialists at the Korangi Association of Trade and Industry (KATI).

Dr. Shamshad Akhtar revealed that an International Monetary Fund (IMF) delegation is

scheduled to visit Pakistan on November 2nd, affirming that the IMF program remains on track.

The government has been diligently implementing measures

aimed at bolstering the country's economy, and upon the receipt of the IMF tranche, further inflows from international financial institutions are anticipated.

A thunder of Dragons soared over Pakistan tonight!

The 23rd Dragons of Asia and the first Dragons of Pakistan are wrapped and we can announce this year’s Winners.

The 2023 Dragons of Asia attracted the largest number of entries, buoyed greatly by participation by the Pakistani Marketing Industry, in the successful inaugural Dragons of Pakistan. 15 Category Dragons of Pakistan have been awarded, with Gold Dragon Winners being Bullseye DDB with Brand Spectrum, Golden Circle Advertising, Mediavest (Brainchild), Mediavest (Brainchild) with Ogilvy Lahore & Starcom. In the finale of this year’s Dragons of Asia, a Red Dragon was awarded to Essencemediacom India for their “Ariel. See the Signs, Share The Load” for Procter & Gamble India. The Agency was awarded a second Red Dragon as the 2023 Agency of the Year. The third Red Dragon was awarded to Brainchild Communications, part of the Publicis Groupe Pakistan, as the 2023 Network of the Year. PR

Bank of Khyber Achieves Remarkable Growth with Rs. 4,682 Million Profit before Tax in nine months

Bank of Khyber (BoK) proudly announces a significant achievement as it posts a remarkable profit before tax of Rs. 4,682 million for 9M 2023. This financial performance was declared during the 182nd meeting of the Board of Directors, held on October 27, 2023, in Karachi. The meeting was presided over by Syed Imtiaz Hussain Shah, Additional Chief Secretary of the Government of Khyber Pakhtunkhwa and Chairman of the Board of Directors.

BoK's planning and strategic repositioning of its balance sheet have played a pivotal role in steering the institution successfully through the challenges of the year 2023. Demonstrating an impressive growth trajectory, the Bank reported a substantial increase of 1,165% in profit before tax, reaching Rs. 4,682 million for 9M

2023, compared to Rs. 370 million for the same period in 2022. Moreover, the net profit after tax for 9M 2023 surged by 783%, amounting to Rs. 2,473 million, compared to Rs. 280 million reported for 9M 2022.

BoK remains committed to delivering exceptional financial services to its customers while continuously investing in upgrading the systems and capabilities to meet the expectations of the customers. The rapid growth in traffic on the Bank's digital channels is an affirmation that customers are increasingly engaging with the Bank on its new initiatives. With this remarkable financial performance, the Bank is poised to continue its growth trajectory and contribute positively to the economic landscape of Khyber Pakhtunkhwa and beyond. PR

Synergy Advertising Wins Black Dragon for Habib Metropolitan Bank Pakistan Campaign

Mari Petroleum T20 Cricket Tournament - POL Wins the Trophy

KARACHI: Synergy Advertising, a leading name in Pakistan’s advertising industry, has added another feather to its cap by securing the Black Dragon Award for the Best Brand Building and/or Awareness Campaign. This recognition comes as a testament to their excellence in creativity and strategy for the "Quaid Kay Habib" campaign, executed on behalf of Habib Metropolitan Bank Pakistan.

The 2023 Dragons of Asia Marketing Communications Industry Awards, held in Malaysia, celebrated the outstanding achievements and innovations in the world of marketing communications. Synergy Advertising's remarkable campaign for Habib Metropolitan Bank Pakistan was well recognized, earning them the prestigious Black Dragon Award. The "Quaid Kay Habib'' campaign was a masterstroke in strengthening the legacy of the bank’s corporate brand. To celebrate Pakistan’s 75th year of independence, this campaign of Habib Metropolitan Bank takes audiences with emotional rides whilst reflecting on Pakistan’s journey as a country and Pakistanis’ journey as a nation. The highs and lows of this journey have been beautifully depicted, while showcasing the legacy of the Habib family, and how it is intertwined with the story of Pakistan. PR

KARACHI: Mari Petroleum T20 Cricket Tournament culminates with a thrilling final match, played at Islamabad Club Cricket Ground, in which POL cricket team defeated the MPCL team and won the trophy. The event was organized and sponsored

by MPCL. The tournament was a grand spectacle, with eight outstanding cricket teams, from oil and gas sector of Pakistan, participating in 15 thrilling pool matches. Mr. Muhammad Ali, Minister of Energy, was the Chief Guest at the closing ceremony. In his speech, he congratulated the victorious team and mentioned that sports is important in helping youth to foster comradeship and adopt healthy lifestyle. He commended the MPCL Management for their dedication to developing cricket at the grassroots level and giving local talent a chance to emerge. PR

Karachi: Karachi Council of Foreign Relations (KCFR) held a talk on Pakistan - Germany Relations at Quaid e Azam House Museum. Photo Shows Mr. Alfred Grannas, Ambassador of Germany, Ms. Nadira Panjwani, Chairperson KCFR, Rudiger Lotz, Ph. D. Consul General Of The Federal Republic of Germany with board members. PR

Synite Digital Pakistan Wins Four Dragons Awards

KARACHI: Synite Digital, Pakistan’s Digital Agency of the Year for the past two consecutive years (2022 & 2023) has made a resounding mark on the global stage by clinching four prestigious awards at the 2023 Dragons of Asia Marketing Communications Industry Awards Programme. The awards were presented during a glittering ceremony that celebrated the very best work carried out across Asia, and marked the 11th year of recognition within Malaysia.The Dragons of Asia Awards have been a beacon of excellence for 23 years, identifying and showcasing the finest achievements in the marketing communications industry.

Pakistan's Synite Digital remarkable accomplishment at this year's awards cements its reputation as a powerhouse of creativity and innovation in the field. The accolades won by Synite Digital Pakistan include:2023 Dragons of Asia:● Bronze Award in the category of Best Use of Media for the "Ehtiyat Banay Hifazat" campaign for Shell Pakistan.● Black Dragon for Best Small Budget Campaign for the "SC Women In Tech" campaign for Standard Chartered Pakistan2023 Dragons of Pakistan:● Bronze Award in the category of Best Brand Building and/or Awareness Campaign. PR

PPL’s 72ndAGM approves 15 percent cash dividend

KARACHI: The 72nd Annual General Meeting of Pakistan Petroleum Limited (PPL) was held on October 30 at Pearl Continental Hotel, Karachi.

Members approved financial statements for the fiscal year ended June 30, 2023, together with the auditor’s report. A final cash dividend of 15 percent on both ordinary and convertible preference shares was also approved. Hence, total dividend paid for the year is 25 percent.

Presiding over the meeting, Chairman PPL Board of Directors Mr. Shahab Rizvi welcomed shareholders to the meeting. He appreciated management and staff’s efforts in achieving extraordinary financial results as well as operational milestones during 2022-23 despite a challenging business environment. He reaffirmed the board’s commitment to maintain the highest standards of safety, corporate governance and accountability to ensure sustainable growth for PPL and also thanked shareholders for their support. PR

Tuesday, 31 October, 2023

INQUIRY LAUNCHED AGAINST AC CUSTOMS FOR ILLEGALLY SEIZING CURRENCY

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CUSTOMS STAFF CHARGED WITH ILLEGAL SEIZURE OF 10,000 POUNDS AT ISLAMABAD AIRPORT PROFIT

SHAHZAD PARACHA

HE Federal Tax Ombudsman (FTO) has ordered the Chief Collector of Customs (North) to initiate a fact finding inquiry against an Assistant Collector (AC) Customs, at Islamabad airport and his concerned staff for illegally seizing an amount of £10,000.

As per the details, a complaint was filed with FTO against the officers of Collectorate of Customs, Islamabad International Airport (IIAP), for illegally seizing an amount of £10,000 and demanding disciplinary action against the concerned officials of customs department at the airport.

According to the rules updated by the State Bank of Pakistan, adults cannot carry foreign currency in excess of $5000 out of Pakistan in one visit. The amount carried by the complainant was over the allowed limit. However, instead of guiding him about the updated regulations, the Customs’ staff took advantage, as per the complainant.

The complainant stated that he was travelling to the UK on flight number BA 260, a direct flight between Islamabad and London. On his first arrival when he reached the Airport Security

Force (ASF) counter with his handbag, he told the official of ASF that he had GBP 10,000 in his pocket and asked him about where he should declare the amount. The officer referred him to the customs counter.

He then informed Sehrish Nazir, Inspector Customs, regarding the 10,000 pounds in his pocket and his wish to declare them. As per the complainant, she took the amount and accused him of breaking the law. She told him that his money will be confiscated/seized.

Another inspector accused him of deliberately travelling on a holiday to slip additional cash through the airport.

It was reported that Farhadullah Khan, the Assistant Collector, realised his staff’s misconduct. He then directed the complainant to take a written statement from the ASF representative regarding the declaration of the amount, in front of him.

The Assistant Collector then left and disappeared from the venue and Inspector Sehrish issued a recovery memo with immediate effect which the complainant was forced to sign illegally, without having recovered his amount.

FTO has forwarded the complaint to the Secretary Revenue Division for comments, the Collector Islamabad in its reply, stated that the complainant failed

Citizens raise concerns over hike in prices of daily use items at utility stores ISLAMABAD

STAFF REPORT

The citizens have expressed grave concerns over increase of prices of food commodities including sugar, flour and other essential items daily use items at utility stores across the country.

They were of the view that in the current era of inflation and price hike, utility stores were last ray of hope for them but now they have also increased the prices further adding to their miseries.

According to a report regarding the prices of grocery items, the price of sugar was Rs 155 in utility stores where the price in open market stands at Rs 142.54 which was Rs 12.46 less than the Utility stores.

Similarly, the price of a 20 kg flour bag was Rs 2840 at utility stores whereas in the open market, the price was Rs 2706.32 which was Rs133.68 less than the utility stores. Earlier in August, the wholesale price of sugar hit a record high and reached Rs163 per kilogram in Pakistan.

Wholesale Grocers Association in its statement said that the per kilogram price of sugar has gone up by Rs 6 with a 1-kilogram pack being sold out in the wholesale market at Rs 163.

In retail, the price of the commodity varies between Rs170 to Rs180 per kilogram. The chairman of the Wholesale Grocers Association Rauf Ibrahim said sugar is not available to wholesalers even at high prices. If the surge continues the sugar prices can go beyond Rs 200 per kg.

Lal Haveli ownership of Sheikh Rasheed restored RAWALPINDI

STAFF REPORT

The Rawalpindi Bench of the Lahore High Court (LHC) on Monday has annulled the decision to seal the Lal Haveli of former Interior Minister Sheikh Rashid Ahmed.

High Court judge Justice Mirza Waqas Rauf delivered the verdict, declaring both the ownership registries of Lal Haveli null and void. The High Court also ordered that Lal Haveli be immediately de-sealed, and that the reference department chairman conduct a fresh hearing about the property.

Speaking to the media outside the court, Sheikh Rasheed said that Lal Haveli is his property, and that he is “ethnic and original.” He also said that he leaves everything to Allah, and that the Pakistan Army is a great army.

Rasheed also apologized for any mistake he may have made, saying that May 9 was a cursed program.

He said that he was with the army yesterday and he is still with the army today.

It is noted that Lal Haveli has been the political seat of Sheikh Rashid Ahmed for 36 years.

to declare the said currency electronically or manually at the Customs Currency Declaration Desk established at the entry of Islamabad International Airport.

FTO said that it was evident that the complainant had declared the currency at the first point of contact with the first available uniformed staff i.e. at ASF scanning machine. However, in spite of his declaration, the ASF handed him over to the customs staff, who instead of allowing him to take along the permissible limit of currency as decided by various legal forms and recently by customs appellate tribunal (CAT), Islamabad, detained and seized the whole amount of UK pounds 10,000.

FTO in its order stated that the Customs staff disgraced the complainant and misbehaved with him which establishes an unreasonable, unjust, and biased approach towards the complainant as well as incompetence and ineptitude in the discharge of duties and responsibilities by AC Customs for the accompanied baggage unit at IIAP. Hence the conduct of the AC and his staff was tantamount to maladministration under the FTO Ordinance, 2000.

FTO has further recommended the Chief Collector of Customs (North) to initiate a fact finding inquiry against the AC Customs, Islamabad and his con-

cerned staff under E&D rules 2020, and take action against those found guilty.

In addition, the Collector, Collectorate of Customs (IIAP), also has to make appropriate arrangements for posting and ensuring availability of staff on a 24/7 basis at the customs currency counter and ASF scanning machines in proper customs uniform.

The FBR is also recommended to ensure the installation of CCTV cameras with recording facilities at all customs counters. FTO has recommended the FBR to write to DG Civil Aviation Authority, to make necessary arrangements for outgoing international passengers’ awareness regarding Customs Baggage Rules and the permissible amount of foreign and Pakistani currency through announcements, display on electronic screens and billboards at different prominent places, parking areas and entry halls of IIAP. DG Pakistan Customs Academy was also recommended to make arrangements for educating and training the Customs staff posted at all international airports on baggage rules, foreign exchange manual, and how to interact with international passengers in a polite manner and provide them information about baggage rules and currency limits etc.

Govt granted one month to submit reply in audio leaks case ISLAMABAD

STAFF REPORT

The Islamabad High Court on Monday granted one month to federal government to submit its reply in audio leaks case. Justice Babar Sattar was hearing a petition of former CJP’s son Najam us Saqib pertaining to audio leaks.

Earlier, Attorney General Mansoor Usman in his arguments said that in his view a parliamentary committee won’t have initiated proceedings against Najam us Saqib.

“An audio tape of a private person was not related to the National Assembly,” top state lawyer said.

“A parliamentary body could not notice in the manner,” AG further said.

He asked the court to dismiss the petition as court petitions have

become infructuous after dissolution of the assembly.

“If the electronic surveillance is allowed? Who could do it,” Justice Babar Sattar questioned. “PTA says it didn’t allow anyone,” the bench observed.

“The question is, how electronic surveillance is being done and who is doing it,” Justice Sattar asked. “If somebody has been allowed it, then who allowed to whom,” the bench posed question.

“This is not on record that a government agency has recorded it,” AG replied. “If it was on record then the question arises of who has allowed it,” he added.

“Are you saying some foreign agency has made the recording,” Justice Babar Sattar asked. “Audios of Prime Minister House, prime minster, his family and the family

of a chief justice have been leaked”.

“I don’t say it did by a foreign agency,” AG said. “This act without taking the state into confidence is a very dangerous decision,” court remarked. “Who is competent authority with regard to audio tape recording,” the bench asked.

“If the Attorney General is taking position that it was not the government and recorded without government authority,” bench further questioned.

“Benazir Bhutto case is our history, when it was happened.

How could it happen, what is check and balance, if the data is not being misused,” court asked. The government constituted judicial commission but the question, who leaks these audios, was not included in its terms of reference, Justice Babar Sattar remarked.

Chief Selector Inzamam resigns in wake of ‘clash of interest’ allegations ISLAMABAD

STAFF REPORT

Pakistan cricket team’s Chief Selector Inzamam-ul-Haq Monday resigned from his post amid the World Cup 2023 after allegations surfaced that he was a partner in a company that manages players.

“People speak without research.

Questions were raised on me so I decided that it was better I resign,” Inzamam said in a statement.

There were allegations that Inzamam geld shares in a company owned by players’ agent Talha Rehmani. This disclosure sparked concerns regarding potential conflicts of interest, given that Rehmani represents several of Pakistan’s leading cricketers, including Babar Azam, Mohammad Rizwan, and Shaheen Shah Afridi.

Furthermore, there are additional queries surrounding whether Inzamam’s dual role as both chief selector and a shareholder in a company that represents top cricketers might have an influence on player selection decisions.

The development comes as the Pakistan team, on the verge of an exit from the World Cup in India, is already facing criticism, and the board is also involved in a controversy after the PCB head leaked

skipper Babar Azam’s private conversation with a top board official.

In the statement, Inzamam — who was appointed to the post in August — mentioned that he was available if the cricket board would initiate an investigation. “People are making statements without research.

I told the PCB to do their research. I have no relation with the playeragent company,” he clarified.

Inzamam, who served in the same post from August 2016 until July 2019, said he was “saddened” by such allegations. “I told the board that if they had any doubts, they should investigate it.”

In a statement later released by the PCB, Inzamam was quoted as

saying: “I am stepping down from the post to offer the PCB the opportunity to conduct a transparent inquiry about the conflict of interest allegations raised in the media.

If the committee finds me not guilty, I will resume my role as the chief selector.”

In response, the PCB said it has set up a five-member fact-finding committee to investigate allegations in respect of conflict of interest reported in the media pertaining to the team selection process.

“The committee will submit its report and any recommendations to the PCB Management in an expeditious manner,” the board’s brief statement mentioned.

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Court seeks reply over PTI chief’s plea to talk to his sons ISLAMABAD

STAFF REPORT

A special court in Islamabad on Monday sought reply from superintendent Adiala Jail over PTI chief’s plea requesting court order for his conversation with his sons on every Saturday. Sheraz Ahmad Ranjha submitted the application in the court. Judge Abul Hasnaat Zulqarnain of Special Court established under Official Secrets Act conducted hearing of the case. Advocate Ranjha, in the plea, stated that the court had ordered jail authorities to arrange PTI chief’s talk with his sons on October 21. He further stated that it was PTI chairman’s right to talk to his real sons Qasim and Suleman. He prayed to the court to issue order for jail authorities to let the former prime minister talk to his sons on Whatsapp. Later the court, seeking reply from superintendent Adiala Jail, adjourned hearing of the case till November 8.

Pakistan, Canada agree to further strengthen bilateral ties ISLAMABAD

STAFF REPORT

Pakistan and Canada have agreed to further strengthen their bilateral ties. The understanding to this effect was reached during telephonic conversation between Canada’s Immigration and Refugees Minister, Mark Miller with Interior Minister Sarfraz Ahmed Bugti.

The Canadian Minister thanked Pakistan for allowing and facilitating the repatriation of Afghan refugees to Canada from Pakistan which continues through various flights. He also invited the Interior Minister to visit Canada. Speaking on the occasion, the Interior Minister said Pakistan has been hosting Afghan refugees for decades and no action is being taken against legally staying Afghan nationals.

Punjab’s second four month budget prepared g

NO FUNDS HAVE BEEN ALLOCATED FOR NEW DEVELOPMENT SCHEMES, AS PER DIRECTIVES OF ELECTION COMMISSION OF PAKISTAN PROFIT

NEWS DESK

The caretaker government of Punjab is set to present its second four-month budget for the ongoing financial year 2023-24 today, marking an unusual move in the realm of governance. Chief Minister Mohsin Naqvi will lead the cabinet in this endeavor, as the previous budget is set to expire on October 31.

In June, the caretaker government unveiled its first four-month budget, covering the period from July to October, with an allocated amount of Rs1.72 trillion.

This budget was necessitated after the government exhausted the funds from the six-month budget approved by the previous PTI government for January to June 2023. Notably, this initial budget raised concerns due to its lack of details regarding expenditures leading up to the expected elections, which were originally slated for October.

The first four-month budget also sparked speculations that it might allocate funds for development projects and subsidies aligned with the political agenda of the PML-N. Given the unprecedented nature of a caretaker government presenting a second budget, the Punjab government sought legal clarification from the provincial law department to avoid potential legal complications.

Sources suggest that the caretaker Punjab government has prepared a budget totaling approximately Rs2.12 trillion. This budget includes Rs1.8 trillion for non-development expenditures, which covers administrative, routine, and operational expenses, including the salaries of Punjab government employees. Additionally, Rs320 billion has been earmarked for the development budget, which is allocated for the ongoing development projects in the province.

The Planning and Development Board of Punjab has reportedly crafted this development budget for around 4,900 ongoing schemes, encompassing 120 days beginning on November 1. It’s worth noting that no funds have been allocated for new development schemes, as per the directives of the Election Commission of Pakistan.

Bugti says deportation to be done in phases, encourages voluntary repatriation ISLAMABAD

STAFF REPORT

Pakistan government will encourage voluntary repatriation of foreign nationals till November 1, following which the state will commence expulsion of aliens in phases, said Caretaker Interior Minister Sarfraz Bugti on Monday.

“After November 1, the state will commence its operation to expel aliens in phases,” he said.

In an interview, Bugti confirmed that over 20,000 illegal foreigners have left Pakistan voluntarily over the last three days. He stated that all provincial governments would play an active part in the operation against illegal foreigners. “Committees have been formed on

divisional and district levels,” he added.

The interim interior minister further clarified that the expulsion of illegal foreign nationals will be carried out in phases and people with no travel documents will be deported in the first phase.

“The government has completed the geo-mapping and will locate illegal foreign nationals wherever they are,” he said, adding that they have established holding centres to keep illegal foreigners after the deadline.

“All basic facilities will be provided at these centres to illegal foreign nationals,” he assured in a question inquiring about their safety.

About the upcoming elections, Bugti said it is responsibility of caretaker government to assist the Election Commission of Pakistan in holding general elections. He

said whatever the ECP’s directions are, we will abide by it.

As the looming deadline set by the Pakistani government for the departure of illegal immigrants approaches, the Foreign Office (FO) also issued a statement on Monday stating that expelling aliens is “in line with the country’s domestic laws and with relevant international norms and principles”.

The statement came after a call out from the Office of the United Nations High Commission for Human Rights (OHCHR), urging Pakistan to halt the forcible return of Afghan nationals. OHCHR also warned the country against the possibility of a human rights catastrophe if these deportations proceed.

FO spokesperson Mumtaz Zahra Baloch reiterated that the repatriation initiative ap-

plies to all illegal foreigners residing in Pakistan, irrespective of their nationality or origin. Baloch stressed that this decision aligns with Pakistan’s sovereign domestic laws and complies with international norms and principles. However, legally registered foreign nationals residing in Pakistan fall outside the scope of this plan.

She further highlighted Pakistan’s commitment to protecting vulnerable individuals, particularly evident in hosting millions of Afghan refugees for over four decades.

Baloch called upon the international community to intensify efforts in addressing protracted refugee situations and prioritise sustainable solutions to repatriate them.

Amid criticisms from Afghanistan, Pakistan emphasised that the decision isn’t tar-

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

geting any specific ethnic group. The commission urged Pakistan to ensure that any future returns are safe, dignified, voluntary, and fully consistent with international law.

OHCHR spokesperson Ravina Shamdasani, speaking from Geneva, expressed deep concerns about the plan, stating that the impending deportation could significantly impact over 1.4 million undocumented Afghans in Pakistan and potentially expose them to severe human rights violations if returned to Afghanistan.

Earlier this month, the government issued an ultimatum for all undocumented immigrants, including Afghan nationals, to depart from Pakistan by October 31, facing the risk of imprisonment and deportation to their respective countries if they fail to comply.