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MAJOR RELIEF AS IHC ACQUITS NAWAZ SHARIF IN AVENFIELD REFERENCE thursday, 30 November, 2023 i 15 Jamada al-awal, 1445
Next hurdle for Nawaz is appeal against conviction in Al-Azizia reference
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PML-N supremo says grateful to Allah Almighty Who made him victorious
Staff RepoRt
HAT is being described as a massive relief for the PML-N chief, the Islamabad High Court (IHC) on Wednesday acquitted former prime minister Nawaz Sharif in the Avenfield reference. The verdict was announced by a two-member bench comprising IHC Chief Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb on Nawaz Sharif’s appeal against his conviction in the case. The court dismissed the plea filed by the National Accountability Bureau in the Flagship reference against the PML-N supreme leader after the accountability watchdog withdrew it. In July 2018, an accountability court had handed the PML-N leader 10 years in jail in the Avenfield properties corruption reference for owning assets beyond known income and one year for not cooperating with the National Accountability Bureau (NAB), both of which were to be served concurrently. The IHC had declared him a proclaimed offender in the case in December 2020. After leaving for London on medical grounds, Nawaz remained there for nearly four years and only returned to the country last month. Following his return from the UK, the PML-N leader had filed an application seeking the restoration of his appeal against his conviction. He had contended that while he was abroad for medical treatment, the pending appeals were dismissed for non-prosecution. The plea requested the court to revive the pending appeal
for a decision on them on merit. Last month, the IHC had restored the appeal in question. Grateful to Allah Almighty for acquittal Speaking to reporters after the hearing, the PML-N supremo said: “I thank God as I had left the entire matters on him. God has made us victorious today.” The PML-N’s supreme leader said that he had entrusted his matters and problems, including the cases, to Allah Almighty. Nawaz Sharif said that he was extremely grateful to the Almighty as he stood vindicated today by His grace. Separately, in a post on X (formerly Twitter), Maryam Nawaz said today’s verdict showed how God vindicated those who put their unwavering trust in him. Legal experts said the acquittal was a “long time coming”. “If it had occurred when it was due back when the appeal was filed, it would be newsworthy. It would have
been an example of justice being done,” they said. They were of the view that currently, the only ones “feigning surprise about the weakness of the trial are the judges of the IHC”. They said the next hurdle for the PML-N supremo would be his appeal against the conviction in Al-Azizia reference. They said Nawaz’s conviction in the Al-Azizia reference would either need to be set aside or suspended for him to be able to contest the upcoming elections. Interestingly, NAB which initially prosecuted these cases with extreme vigour has had a visibly different attitude at the appellate stage, they experts pointed out. They asserted there was a Supreme Court judgment disqualifying Nawaz in the Panama Papers case under Article 62(1)(f) for not being ‘honest’ and ‘truthful’ (ameen and sadiq).
Gohar picked to head PTI as Khan ‘decides to stay away’ from intra-party polls ISLAMABAD
Saleem JadooN
Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Wednesday nominated Barrister Gohar Khan, a member of his legal team, for the slot of the party’s chairman under a temporary arrangement. Under the arrangement, Imran Khan would not contest the upcoming intra-party polls to pre-empt any illegal or unconstitutional steps by the ECP to prevent the party from getting the bat as electoral symbol or cancel the nominations of its candidates. The announcement was made by PTI senior leader Senator Barrister Ali Zafar during a press conference flanked by Barrister Gohar Khan and PTI Central Information Secretary Raoof Hasan outside Election Commission office here on Wednesday. Talking to media, Barrister Ali Zafar announced that Chairman Imran Khan will not be contesting the intra-party polls scheduled for December 2 (Saturday) due to his legal problems, hence Gohar had been nominated for the slot of the party chairmanship under a temporary arrangement. He, however, declared that the party would challenge the ECP’s decision nullifying the party’s intraparty polls and ordering the party to hold the intra-party election within 20 days, terming decision “illegal and
unconstitutional.” The announcement comes a day after the party found itself embroiled in fresh controversy after denying a statement by Sher Afzal Khan Marwat, who had claimed that Imran would not contest the upcoming intra-party polls for the slot of party chairman and that he had picked someone to contest in his stead. The PTI senior leader said that Gohar was an appropriate pick as caretaker chairman and with his nomination, they would realise that this was not a minus-one formula because he was Chairman PTI’s own nominee and was appropriate for the temporary arrangement they were implementing. Barrister Zafar said the chairmanship is temporary, as Khan would return as chairman of the party once his disqualification in the wake of the Toshakhana case is overturned, as there is no concept of PTI without Imran Khan. PTI senator made it clear: “PTI is Imran Khan and Imran Khan is PTI. PTI is nothing without Imran Khan. It doesn’t matter if you are the chairman on paper. The leader, and the continuous leader, is Imran Khan.” Zafar said that the party had to overcome legal hurdles as well as implement the ECP’s illegal and unconstitutional order on holding intra-party polls which is why it was taking this step.
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Hosting HBL PSL anywhere but Pakistan will be a ‘financial disaster’ g
Franchise owners have already desired to move on from current business model PROFIT
abdullah Niazi
The idea that the ninth edition of the HBL Pakistan Super League (PSL) would be held outside Pakistan was first soft-launched as early as May this year. Reports began to emerge that the PCB, then under the managerial control of Najam Sethi, wanted to shift the tournament to the United Arab Emirates seemingly to attract more foreign players and cut down on some of the administrative and hosting costs involved in conducting the tournament in pakistan. Unsurprisingly the franchises involved in the HBL PSL were not particularly enthused by this arrangement. Already for the past couple of years, there has been growing resentment within some of the franchises over the tournament’s business model. A decision to shift the tournament to the UAE or any other country for that matter could further increase the rift between the board and the team owners. HOW THE MONEY IS MADE It is a pretty simple concept really. The Pakistan Cricket Board (PCB) is the organising body that operates the HBL PSL. As the organiser, the PCB makes a big chunk of their money through franchise fees. That means the board sells the rights to these teams to the team owners who then pay a set annual fee. There are currently six teams in the HBL PSL with Multan having the highest franchise fee at a yearly $6.35 million and the lowest being Quetta Gladiators at $1.1 million
Rs 15.00 | Vol XIV No 151 I 8 Pages I Islamabad Edition
per year. Overall, the PCB rakes in $15.65 million a year just from franchise fees. In addition to this, the tournament brings home the bacon for the PCB by selling tickets, selling sponsorships, and selling the broadcasting rights to the matches. In 2022, the cricket board sold the local broadcasting rights for the tournament to a consortium of ARY and PTV for the hefty price of $25 million for a two year period. Similarly, the title sponsorship, which has belonged to HBL since the beginning of the tournament, was sold to them again until 2025 for nearly $22.5 million (and this is only the title sponsorship, which means the revenue from other sponsors has not been factored in.) For the last edition of the tournament, the cricket board reported a profit worth Rs 2 billion which was split between the teams. In exchange for all of this the PCB is responsible for providing the venue and other organisational matters for the tournament to be successfully conducted. But perhaps one of the biggest costs for the board is the provision of security. Remember, the HBL PSl started off by being hosted in the UAE and has gradually shifted entirely to Pakistan. And while this has bolstered the tournament’s reputation with fans filling up stadiums, the PCB has been growingly unhappy with the high costs they have to pay for security. A very public dispute with the Punjab Government during the last tournament over covering police costs illustrated this.
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“Subsequently, the Supreme Court held that a disqualification under this article would be for life. The lifetime disqualification judgment was harsh. However, as far as the lifetime disqualification goes, the Pakistan Democratic Movement government made various amendments to the Election Act 2017. Advocate Muhammad Ahmad Pansota said it was “interesting” to see NAB withdrawing its appeal against Nawaz’s acquittal in the Flagship reference. “Previously in the Hudaibiya Paper Mills case, NAB filed an appeal with a considerable delay before the Supreme Court and now this. This appears to be a travesty of justice,” he opined. Pansota also said that Nawaz’s Panama disqualification still “stands”, adding that the previous government had attempted to undo it through an act of Parliament. “Interestingly, there is a SC Judgment which holds that disqualification under Article 62(1)(f) is lifetime. There is a conflict between the law and the Supreme Court judgment which, in my view, may be resolved when Nawaz Sharif files his nomination papers for contesting elections,” he said. “The same will be challenged by his opponent and the matter will eventually go till the apex court where it is likely to be settled,” he observed. THE HEARING As the proceedings commenced, Nawaz’s lawyers came to the rostrum. Advocate Amjad Pervaiz contended that the accountability court had acquitted the PML-N supremo from Section 9A of the NAB Ordinance in the Avenfield reference.
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COAS, Kuwaiti Crown Prince discuss matters of mutual interest KUWAIT CITY
Staff RepoRt
Chief of Army Staff General Asim Munir on Wednesday called on Kuwaiti Crown Prince Sheikh Mishal AlAhmad Al-Jaber Al-Sabah and held a detailed meeting with him involving discussions on matters of mutual interest. The Army Chief was accompanied by Minister for Law and Justice and Minister for Climate Change and Environmental Coordination Ahmad Irfan Aslam. The meeting was also attended by Pakistan Ambassador to Kuwait Malik Mohammad Farooq. Earlier, COAS General Asim Munir arrived in Kuwait, accompanied by a military delegation on an official visit that will last several days. Upon his arrival, he was received by His Excellency the Chief of General Staff of the Army, Major General Engineer Dr. Ghazi Hassan Al-Shammari, and a number of senior army officers. Meanwhile, Caretaker Prime Minister Anwaarul Haq Kakar and Crown Prince of Kuwait Sheikh Meshal Al Ahmed Al Jaber Al Sabah met on Wednesday and agreed to deepen bilateral relationship between their countries in diverse fields. The prime minister reaffirmed the importance Pakistan attaches to its relationship with Kuwait and reiterated the desire to further expand bilateral cooperation in diverse fields, the PM Office’s media wing said. PM Kakar underscored the resolve to forge deeper economic engagement between Pakistan and Kuwait-including in trade, energy, information technology, labour, mineral and investments. The Crown Prince of Kuwait reciprocated the sentiments of the Prime Minister and reiterated the desire of Kuwaiti leadership to further deepen and broaden bilateral relations with Pakistan.
02 NEWS
GENERAL ELECTIONS SHOULD BE HELD ON TIME: SHEHBAZ SHARIF
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LAHORE
Staff RepoRt
EFERRING to the incidents of violence witnessed on May 9, former prime minister and PML-N President Shehbaz Sharif on Wednesday said these were acts of treason on the part of the PTI, which, he claimed, wanted to create fissures in Pakistan Army. Speaking to the media after appearing in an accountability court (AC) in Lahore in connection with the hearing of Ramzan Sugar Mills reference, he said he had no idea that PTI would turn out to be a ‘de-
CAA calls for return of unused properties from PIA
structive force’. He alleged that PTI Chairman Imran Khan had built his residence in Bani Gala, Islamabad in violation of rules and regulations. He was of the view that there was a conspiracy behind the disqualification of former prime minister and PML-N supremo Nawaz Sharif. “By sending Nawaz home, an obstruction was created in the way of the country’s development. Shehbaz emphasized that general elections in the country should be held on time. “We are entering the election campaign phase with full preparation,” he added. During the hearing, the former prime minister said that all cases against him
ISLAMABAD
Staff RepoRt
The Civil Aviation Authority (CAA) Wednesday requested the return of unused properties and offices from Pakistan International Airlines (PIA). According to the letter to the CEO of PIA, CAA officials requested to hand over the physical possession of the abandoned space/land/building to CAA which can also help reduce the national airline rental expenditure. The PIA’s GM directed all the departments to provide the details of the unused buildings and abandoned land by December 15, Meanwhile, the CAA director general has already informed the aviation ministry about the reclamation process of the unused properties from the PIA. Last week, the federal government divided the Civil Aviation Authority (CAA) into two separate entities. According to the notification issued here, the CAA has been divided into separate organizations; Pakistan Airports Authority (PAA) and Civil Aviation. Both the entities will be headed by separate heads, the notification stated. The newly formed Pakistan Airports Authority (PAA) will look after the affairs of the country’s airports, the notification stated. Moreover, matters related to the airport system, flight landing approval, flight safety and other departments will be monitored by CAA. In recent times, the federal government’s decision to outsource the management of the country’s three major airports prompted strong protests from CAA employees. The authorities have started the outsourcing process at Karachi, Lahore, and Islamabad airports to be run through a publicprivate partnership, a move meant to generate foreign exchange reserves.
UE hosts 4th Int’l conference on ‘Advances in Materials Science’ LAHORE
Staff RepoRt
The two-day 4th International Conference titled: “Advances in Materials Science (AIMS2023),” started at University of Education here on Wednesday. Apart from local scholars participation, a large number of scientists and scholars from UK, China, Germany, Spain, Malaysia, Egypt, South Africa, South Korea, Australia, Turkey, South Korea, Iran, Saudi Arabia, Nigeria, Argentina and Iraq are attended the conference. More than 120 presentations will be delivered by eminent scientists from all over the world in-person and through Zoom meetings during the conference. University of Education (UoE) Vice-Chancellor Prof. Dr. Muhammad Alam Saeed presided over the inaugural session of the conference ted while Punjab University of Technology Rasul Vice Chancellor Prof Dr Rauf-i-Azam was the chief guest at the ceremony. On the occasion, Director Division of Science and Technology Prof Dr Rana Abrar Hussain shed light on objectives of the conference and expressed gratitude to the participants for their attendance. Speaking at the opening ceremony, the UoE VC said that success of the previous conferences motivated us to organize another conference on large scale, which is a great step in the field of research. “With the help of progress in the field of materials science, we can overcome the crises like energy faced by the world, especially Pakistan”, Dr Saeed asserted, adding that the participation of renowned scientists from different countries will benefit the young scholars immensely, for which we are also grateful to them.
Thursday, 30 November, 2023 | ISLAMABAD
NEPRA decides to recover Rs 3/unit from industrial consumers of KE in two months
were ‘fake’. “Not a penny of corruption could be proved against me,” he said, adding, “All suspects, including me, were acquitted in the Ashiana Housing case.” He claimed that he never caused loss to the national exchequer through the steps he had ordered. “I served the people of Punjab when I was the provincial chief minister,” he said, adding, “I never received a penny from the exchequer for my foreign tours. As a matter of fact, I never received my salary nor availed perks and privileges.” COURT ADJOURNS HEARING: Earlier, an accountability court adjourned the hearing of Ramzan Sugar Mills reference until December 12.
ISLAMABAD
Staff RepoRt
PSX loses steam after crossing 61,000 mark for first time g
KSE-100 INDEX HIT AN ALL-TIME HIGH OF 61,555.83 POINTS, GAINING OVER 800 POINTS, BUT PROFIT-TAKING BY INVESTORS DRAGGED IT DOWN TO CLOSE AT 60,502 POINTS PROFIT
NewS DeSk
The Pakistan Stock Exchange (PSX) witnessed a volatile session on Wednesday as the benchmark KSE-100 index unable to sustain its record high level of above 61,000 points and ended in the red zone. Around 11 am, the index had hit an all-time high of 61,555.83 points, gaining over 800 points, but profit-taking by investors dragged it down to close at 60,502 points, down by 228 points or 0.38 percent from previous close of 60,730.26 points. Earlier, across-the-board buying was witnessed with index-heavy sectors including automobile assemblers, cement,
chemical, commercial banks, oil and gas exploration companies, OMCs and the refinery sector trading in the green. The recent rally in stock market is fueled by the staff-level agreement between Pakistan and the International Monetary Fund (IMF) on the first review of the $3 billion Stand-By Arrangement (SBA), which is expected to be approved by the IMF board in December. The agreement would also unlock funds from other multilateral and bilateral partners. Analysts said that low valuations, foreign buying, economic stability, currency stability and declining interest rates were also supporting factors for the bullish sentiment. However, some investors opted to
book their gains after the index crossed the 61,000 mark, leading to a correction in the market. Most of the sectors traded in the negative territory, with automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs and the refinery sector among the major losers. The PSX has been one of the best performing markets in the world this year, posting a growth of over 50 percent. However, some experts have cautioned that the market may face some challenges in the coming months due to political uncertainty, rising inflation, fiscal pressures and external vulnerabilities. They advised investors to adopt a cautious approach and focus on quality stocks with strong fundamentals.
Withholding tax collection on immovable property sales soars by 340.5% year-on-year g
FBR'S OVERALL WITHHOLDING TAX COLLECTION WITNESSED A 32.2 PERCENT INCREASE, REACHING RS1.87 TRILLION IN 2022-23 COMPARED TO RS1.41 TRILLION IN 2021-22 PROFIT
Lahore maintains unsettling lead on global pollution index as smog crisis intensifies LAHORE
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The Federal Board of Revenue (FBR) has reported a remarkable 340.5 percent year-on-year growth in withholding tax (WHT) collection from sales of immovable properties during the fiscal year 2022-23, signaling a substantial uptick in real estate transactions. According to the latest withholding tax data released on Tuesday, the WHT collection on sales of immovable properties reached Rs70.326 billion in 2022-23, a substantial increase from Rs15.966 billion in the previous fiscal year, 2021-22. In contrast, the advance tax (withholding tax) on the purchase/transfer of immovable properties amounted to Rs84.739 billion in 2022-23, marking a 32.4 percent increase from Rs63.998 billion in the same period of the previous fiscal year. The comprehensive data further discloses that the FBR’s overall withholding tax collection witnessed a 32.2 percent increase, reaching Rs1.87 trillion in 2022-23 compared to Rs1.41 trillion in 2021-22. Positive growth was observed
National Electric Power Regulatory Authority (NEPRA) on Wednesday issued a revised decision and announced the recovery of Rs 3 per unit from the industrial consumers of K-Electric in two months. According to NEPRA decision, the Authority, pursuant to the Judgment of the Supreme Court of Pakistan dated 19th January, 2023, issued its decision in the matter on 31st October, 2023. The decision was intimated to the Federal Government for notification in light of Section 31 of NEPRA Act. However, subsequently, the ministry of energy (MoE) vide letter dated 10.11.2023, submitted that the Authority decided instant case on the request of K-Electric to adjust the tariff for the period July 2019 to December 2019. In view thereof, the MoE requested that control/ implementation period may be clarified in the subject decision, said NEPRA decision. As per NEPRA decision, the Authority considers that the tariff adjustment period comprises of six months i.e. July 2019 to December 2019, and recovery of the same has already been delayed. Therefore, it would be appropriate to implement the same in a period of two (02) months. Accordingly, the implementation period shall be two (02) months from the date of notification of the said decision, said NEPRA decison. NEPRA has forwarded the instant decision to the Federal Government for notification in light of Section 31 of NEPRA Act, added NEPRA decision. Earlier, the federal government announced the industrial relief package for July-December 2019 and the package was applicable for peak hours and off-peak hours. However, the government ended the concession for off-peak hours on 22 January 2020. After the government’s decision, K-Electric started to collect the subsidy amount, while the subsidy collection was stopped when it was challenged in the court, and now NEPRA has issued a revised decision to recover Rs 3/unit from the industrial consumers of KE in two months in the light of the Supreme Court’s decision.
Staff RepoRt
across all major items of WHT, with the highest growth recorded in the WHT from the sale of immovable property at 340.5 percent. Other notable increases include Profit on Debt/Bank Interest & Securities at 106.7 percent, salary at 40.1 percent, and electricity at 38.0 percent. The total WHT collection for 202223 stood at Rs1,874.2 billion, constituting a 32.2 percent growth from the previous fiscal year’s Rs1,417.5 billion. A breakdown of WHT contributors
reveals that withholding tax on contract payments holds the highest share at 21 percent, followed by Profit on Debt/Bank Interest & Securities (17 percent), imports (15 percent), and salary (14 percent). Specifically, WHT collection from the salaried class reached Rs264.335 billion in 2022-23, showcasing a growth of 40.1 percent from Rs188.736 billion in the corresponding period of the previous fiscal year, according to FBR data.
Lahore, dealing with a severe smog crisis, reclaimed its title as the world’s most polluted city on Wednesday. The air quality index (AQI) by IQAir, a Swiss air quality technology company, consistently registered above 381, indicating very unhealthy air. The peak AQI, nearing hazardous levels, hit 580 around DHA Phase 3, while the lowest recorded AQI around Aitchison College still lingered in the hazardous levels range at 350. The severe impact of smog on human health and the environment cannot be ignored. It can cause or worsen respiratory and cardiovascular diseases, such as asthma, bronchitis, emphysema, and even heart attacks. Smog’s effects extend to irritating the eyes, nose, and throat, reducing visibility, and diminishing overall quality of life. Furthermore, it poses threats to crops, plants, and buildings, contributing significantly to global warming and acid rain. Experts suggest viable solutions, including enforcing stricter emission standards and regulations for vehicles, industries, power plants, and brick kilns. Additionally, they advocate for the adoption of cleaner fuels and increased reliance on renewable energy sources like solar, wind, and hydropower.
Sh Rashid warns candidates of public backlash in elections RAWALPINDI
Staff RepoRt
Former interior minister and Awami Muslim League (AML) chief Sheikh Rashid Ahmed said on Wednesday that candidates approaching to people for vote would face the music for what they had done with the public. Talking to media outside District Courts Rawalpindi, the former interior minister said Chief Justice Qazi Faez Isa had stated categorically that elections were going to be held in February. He said he had no authority to say anything about elec-
tions. Rashid said people had no feelings or enthusiasm for general elections. Hunger, poverty and inflation had hit them hard, he said. He said people were unable to pay their electricity bills, school fees of their kids and purchase flour to eat bread. The situation had gone out of their control, said the AML head. Rashid said the real issue was poor economic condition. He said had been contesting elections since his childhood. The feelings and enthusiasm which was required for general elections, was nowhere among people, Rashid said. The senior politician said he would start his election
campaign from 10th. “I have alliance with Allah. He will give me victory in both constituencies of Rawalpindi. Election symbol Klam and Dwat (pen and inkpot) will win both seat in upcoming elections,” said the former minister. Rashid said there was a good news that he had secured bail in case registered at Abpara police station. He said on 30th November in Lahore High Court’s Rawalpindi bench he would come to know how many cases had been registered against him. He said he had 68 cases against him so far. “God will give me success. All the cases registered against me are bogus and fake,” he said.
WB plans $2b loan for Pakistan in FY24; opposes further power tariffs g
BANK'S REGIONAL VICE PRESIDENT EMPHASIZES ONE-TIME DEBT WRITE-OFFS DO NOT PROVIDE A LASTING SOLUTION TO CORE PROBLEMS, WHICH MAY RESURFACE IN FUTURE PROFIT
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Martin Raiser, the World Bank’s Regional Vice President for South Asia has announced that the WB plans to disburse approximately $2 billion in Pakistan during the ongoing financial year. In a media briefing on Tuesday, he emphasized the need for sustainable and viable power reforms in Pakistan while opposing the idea of additional increases in power tariffs. He urged authorities to focus on reducing line losses and improving recovery instead.
Raiser stated that the WB is actively engaged with relevant government authorities to address various issues aimed at steering the country’s economy towards development. Discussing energy sector reforms, he highlighted that longstanding challenges such as low tariffs, unpaid bills, power theft, and costly long-term generation contracts have hindered Pakistan’s development potential, leading to financial instability in the sector. Regarding the idea of writing off internal debts, Raiser objected, emphasizing that one-time debt write-offs do not provide a lasting solution to core problems, which
may resurface in the future. Addressing concerns about deferment of local loans, Raiser cautioned that such a move could impact the banking sector and investment, urging careful consideration in the deferment process. He also highlighted discussions with political parties before the election, emphasizing the need for continued economic reforms and the implementation of economic policies. Regarding the Special Investment Facilitation Council (SIFC), Raiser commended the government’s initiative to attract global and
local investment but stressed the importance of creating a business-friendly environment. Refusing to comment on the Chinese loan related to the China-Pakistan Economic Corridor (CPEC), Raiser urged Pakistan to in-
crease the tax-to-GDP ratio from two to three percent. He emphasized that merely collecting taxes is insufficient, advocating for collaboration on spending and tax reforms while providing facilities to the agricultural sector.
PAKISTAN IMPLEMENTS BAN ON WHEAT IMPORTS FROM INDIA AND ISRAEL Thursday, 30 November, 2023 | ISLAMABAD
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ISLAMABAD
Staff RepoRt
AKISTAN has imposed a ban on the import of Indian and Israeli wheat, while the commodity will also not be imported from Cuba, Iran, Syria, North Korea, and the Ukrainian territories controlled by Russia. Pakistan has imposed a condition on global trading companies not to supply
wheat from India and Israel. Wheat supply has also been banned from nations facing international sanctions, including Cuba, Iran, North Korea and Syria. According to a document, wheat will also not be purchased from the Ukrainian regions under the control of Russia as well as Crimea. Meanwhile, the moisture content of wheat in a tender for the purchase of 110,000 metric tons of the commodity has been set at 14.5%, while the presence
Spotify Wrapped 2023: Atif Aslam remains most streamed Pakistani artist
LahOrE: As the year draws to a close, it’s time for Spotify’s 2023 Wrapped to unveil how Pakistanis listened to music this year. Year 2023 showcased 82% growth of local music consumption and sonic diversity across the charts. Spotify’s top lists reflect various trends and the overall expansion of music as the music streaming giant continues to grow its user base. This year saw Atif Aslam and Talha Anjum retain their respective spots at the helm among the top local artists, joined by a host of emerging talents like Umair, Abdul Hannan, and Rovalio, and seasoned artists including Talhah Yunus, Asim Azhar and Young Stunners. The legendary “Shehnshah-e-Qawwali”, Ustad Nusrat Fateh Ali Khan, still holds an unflinching place in the hearts of audiences along with his nephew and renowned Sufi artist, Rahat Fateh Ali Khan, completing the list of top 10 most streamed local artists. The list of top artists shows the eclectic taste of Pakistani listeners, with Arijit Singh securing the top spot, followed by Pritam, AP Dhillon, Shubh, and Sidhu Moose Wala, the artist from across the border receiving immense posthumous love from streamers. Local favorites Atif Aslam and Talha Anjum also share the limelight with global sensations like Taylor Swift and The Weeknd on this list. From Kaifi Khalil’s “Kahani Suno 2.0” to Talha Anjum’s “Downers at Dusk”, the top tracks reflect the varied musical palette of Pakistani listeners. “Kahani Suno 2.0” has topped not just the local charts as the most streamed track in Pakistan but is also this year’s most streamed Pakistani song globally. Ali Sethi and Shae Gill’s “Pasoori” although still making its way into the top five most streamed local tracks of the year, has been overtaken by Abdul Hannan with three of his tracks, namely “Iraaday”, “Bikhra” and “Siyah” that complete the top five. Fresher voices from a host of upcoming local talents like AUR’s “Tu Hai Kahan” and Hassan & Roshaan and Shae Gill’s “Sukoon”, along with Azaan Sami Khan’s “Ik Lamha”, Talha Anjum and Umair’s “Downers at Dusk” and Asim Azhar’s “Jo Tu Na Mila” made it to the list of top 10 most streamed Pakistani songs. pR
of other items, including soil, will not exceed 1%. Wheat is scheduled to start arriving in Gwadar or at the Karachi port on two ships by February 12. The Trading Corporation of Pakistan (TCP) recently issued an international tender to procure and import 110,000 metric tons of wheat, according to European traders. The deadline for submitting price offers in this tender is December 27. As a condition, the wheat should be from the
latest crop. Shipment is requested for 2024, in consignments of at least 50,000 tons during two periods between January 10-15 and January 17-22. The wheat must arrive in Pakistan by February 12, 2024. The TCP has the option to buy 10% more or less than the tender volume. Traders suggest that Pakistan, facing financial difficulties, has a significant import requirement to address rising flour prices.
Govt employees to get electric bikes LAHORE
Staff RepoRt
Caretaker Provincial Transport and Livestock Minister Ibrahim Hasan Murad said that the government was all set to launch electric bikes to prevent smog intensity. He said that the E-bikes would be cost-effective and government employees would also be provided electric bikes on lease. Talking to state-run news channel, the minister said: “In aim to reduce the usage of expensive fuel and protect the environment of the cities, government has decided to
introducing electric bikes and safe city camera projects in which smoke-emitting vehicles will be detected by the cameras and immediate alerts were relayed to the field forces.” The Electric Vehicles Policy is the need of the hour to promote a safe environment, local production of evehicles, providing incentives, with the ultimate goal of capturing a substantial share of the market, he added. E-bikes being zero-emission vehicles would use lithium-ion batteries which will emerge as a cost-effective and eco-friendly alternative to traditional transportation, he mentioned.
The minister stressed that the media should play its role by creating awareness campaigns on private TV channels and radio for the conservation of energy and for wearing face masks during smog weather. Replying to a question, the administration has started a strict crackdown and announced to charge heavy fines for violations of the traffic rules. Punjab government was taking steps in accordance with PM’s ecofriendly measures, he said, adding that Punjab would be the first province in the country to give such a great incentive to owners of electric vehicles.
Hosting HBL PSL anywhere but Pakistan will be a ‘financial disaster’ CONTINUED FROM PAGE 01
WHY THE TOURNAMENT NEEDS TO STAY PUT This year the PCB has proposed that the tournament, or at least a part of it, be hosted in the UAE. The reason they have given is that elections are scheduled for February and providing security during this time would be impossible. The unfortunate part is that the international cricket schedule is so tight the tournament cannot easily be shifted to a different time and neither can the general elections be postponed for this reason. On top of this the PCB will be happy because the cost of security will not be as much of an issue. If the tournament is in the UAE or South Africa, the costs of hiring grounds and finding staff will still not eclipse the cost of providing adequate security. The franchises, however, strongly disagree with this. For a while there has been rising resentment within some of the franchises over what they see as an inequitable business model. To put this into context, if you are an HBL PSL franchise you need to pay the fran-
chise fee to the PCB, pay your players, pay staff, and also spend on marketing. The money you make in exchange for this comes from brand endorsements and other sources that are largely marketing based. They also make money from a central revenue pool that the PCB manages every year. Essentially, all of the earnings from broadcasting, media, and advertising are pooled together and divided between the teams and the PCB. There has been a lot of back and forth over this revenue pool but as things stand 95% of this pool is divided equally between the teams and the remaining 5% is pocketed by the PCB. But even this is proving difficult to manage. Some of the bigger teams like Lahore, Karachi, and Islamabad which have higher costs and higher franchise fees feel this is unfair and have been advocating for a new business model that would make the revenue regional. Allow us to explain. Some of the larger teams are banking on the fact that the league will eventually adopt a regional revenue model where each team collects the profits from their respective regions. This means that if, for example, a
match is hosted in Multan all of the proceeds from it will go to the Multan Sultans — everything from broadcasting to gate receipts and advertising. Similarly if Multan goes to play a game in Lahore then the Qalandars will reap the rewards. Of course there are problems with this. Peshawar is far from hosting any HBL PSL matches right now despite a push from Javed Afridi and Quetta is a continued problem. Suggestions have been made that Quetts play their home games in Karachi but that might be contested by the Kings management. What we do have, however, is a scenario in which many franchises are already unhappy with the PCB. While the board might want to shift the tournament to a different country to cut costs this year, it will cost them dearly in the long run. The confidence of investors, which is what franchise owners are at the end of the day, will not be bolstered by this. And with fresh auctions for team ownership coming in the next couple of years, the PCB would do well to remember the HBL PSL is a longterm investment that needs to be run with an eye on the future.
Gohar picked to head PTI as Khan ‘decides to stay away’ from intra-party polls CONTINUED FROM PAGE 01
He said that PTI Chairman had been convicted in the Toshakhana case, though the Islamabad High Court (IHC) had suspended his three-year sentence, final decision had not yet been made. PTI senator went on to say that a person could not be disqualified for failing to declare Toshakhana gifts; however, they took the decision to pre-empt any illegal or unconstitutional steps by the ECP to deprive the party of its electoral symbol bat or cancel the nominations of its candidates. He noted that all these matters were discussed with PTI Chairman in the presence of other lawyers, adding that Imran Khan did not want to give the ECP any excuse for not giving the party the bat symbol in the next general elections. Ali Zafar quoted PTI Chairman as saying, “The public is with us. We will win the elections when they happen. I want to take part in the general election. Intra-party polls hold no meaning for me. I want that the Toshkahana case is decided as soon as possible. When it is decided, I will contest intra-party polls as chairman.”
He disclosed that PTI Chairman had directed the party to hold intra-party polls and the decision was placed before the senior leadership, which, they had approved it. However, Zafar contended that the question then arose about the candidates for the intra-party polls and the nominee for the chairman and names of several prominent personalities were discussed but all of them had been appointed to permanent positions within the party. “It would not be appropriate to give them a temporary position. That is why we need someone who is not controversial and can play a role in this caretaker mode, this temporary arrangement,” he said. Speaking on the occasion, Barrister Gohar said: “I am speechless. I do not have words to thank my leader Imran Khan.” He said that Imran was the leader of the PTI whether he was in jail or free. “Khan was the leader and chairman, is the chairman and God willing, will remain the chairman till last breath of his,” he said, adding that he would handle the post as party chairman until Imran returned. As the political landscape in Pakistan evolves, the nomination of Barrister Gohar Khan is ex-
pected to generate interest and speculation within the PTI ranks and beyond. The upcoming intra-party election will be closely watched, with the outcome likely to shape the future trajectory of PTI’s leadership. WHO IS BARRISTER GOHAR KHAN? Barrister Gohar Khan, hailing from the Buner district of Khyber Pakhtunkhwa, brings a wealth of legal expertise to the table, being a distinguished lawyer of the Supreme Court. His academic background includes an LLB from the University of Wolverhampton, UK, and an LLM from Washington Civil of Law, USA, highlighting a global perspective in his legal education. Having been associated with Aitraz Ahsan & Associates for an extended period, Barrister Gohar honed his legal skills under the direct guidance of Aitzaz Ahsan, a prominent figure in the legal fraternity. This experience has undoubtedly contributed to Barrister Gohar’s nuanced understanding of legal intricacies. Importantly, Barrister Gohar Khan has served as a trusted member of Imran Khan’s legal team for the past year, signifying a strong professional relationship between the two.
Major relief as IHC acquits Nawaz Sharif in Avenfield reference CONTINUED FROM PAGE 01
Now, only section 9A(5) is remaining in the case which pertains to assets beyond means, the counsel said and then proceeded to read the law out loud in court. “Under Section 9A(5), the prosecution has to prove certain facts and the accused is required to be shown as a public office holder,” he said. The law states that the accused’s income should not match with his assets, the lawyer added. “I think Nawaz’s sentence was suspended on the same basis,” Justice Aurangzeb said here. “We relied on several judgments of the Supreme Court for the verdict on the suspension of the sentence,” he said. The judge added that later the apex court had further elaborated on the matter and directed the lawyer to assist the court on this. Continuing the arguments, Pervaiz said the investigation agency has to investigate the source of the assets at the time of their acquisition and compare known sources of income with the value of the assets. “But this case is such that its contents have yet not been proven,” he said, adding that the investigators failed to prove all the sections of crime. Subsequently, the lawyer submitted date-wise details of Nawaz’s assets in court. At that, the IHC CJ asked if these assets were requisitioned at the same time or separately. “These properties were obtained from 1993 to 1996,” the lawyer replied, highlighting that nowhere it was written in the reference that these properties were linked to Nawaz. “Whether it is the joint investigation team, NAB reports, references or statements, the value of these properties were not written anywhere,” he contended. “There is not a single page that can prove Nawaz had any connection with these properties.”
Pervaiz further stated that Wajid Zia, the prosecution witness, had also stated during the cross-examination that he had no evidence to prove the PML-N supremo’s connection with the properties. “Do these documents include the date of acquisition of the properties and their value?” Justice Farooq asked. The PML-N counsel responded that the details were mentioned in some documents but they did not have any information that could prove Nawaz’s connection with the properties. Pervaiz further pointed out that the most important question was that of the ownership of the properties. “There is no verbal nor documented evidence that these properties were ever owned by Nawaz Sharif,” he said. The lawyer added that prosecution had to prove Maryam Nawaz, Hussain Nawaz and Hassan Nawaz were under the patronage of the PML-N supremo. “But there is no evidence for that either,” he argued. Pervaiz also reiterated that there is no evidence the properties were ever under the ownership of Nawaz. “Is this all the job of the prosecution?” the IHC CJ asked, to which the lawyer replied in the affirmative. At one point, Justice Aurangzeb asked the NAB prosecutor if he was noting the points highlighted by Pervaiz. “He is talking about very important things,” the judge highlighted. “Yes sir, I am noting,” the prosecutor replied but Justice Aurangzeb cut him short and said that the former did not have a pen in his hands, prompting laughter in the courtroom. Meanwhile, Pervaiz went on to say that the prosecution was also responsible for explaining how the public office was used to acquire “benaami properties” and read orders issued by the SC regarding the matter. “We are aware of the main contents of benaami under the criminal law,” Justice Aurangzeb said and directed the lawyer to assist the court regarding the same
under the NAB Ordinance. Pervaiz contended that the court announced the verdict on “the basis of assumption” and penned the verdict on the basis of generality not evidence. The court had said Maryam Nawaz was a beneficial owner and also under the patronage of the PML-N leader, he pointed out, adding that it was also written that children were in most circumstances dependent on their father. He recalled that the Lahore High Court had earlier acquitted a NAB suspect, Intelligence Bureau’s former brigadier Imtiaz, on the basis that the accountability watchdog had determined the value of his alleged properties without determining his income. “The SC had also maintained this decision and did not give a differing judgment,” the PML-N counsel highlighted, adding that the IHC had also upheld the same in the Avenfield case against Maryam Nawaz. Referring to this verdict, Pervaiz stated that the court had ruled that the prosecution did not have a single document to prove as evidence in the case. When the court asked whether this verdict was “binding”, the lawyer replied in the affirmative, saying that it had not been challenged by the accountability watchdog. Here, Justice Aurangzeb stated that the court had recently issued an order under which four categories needed to be proven pertaining to benaami properties or accounts. For his part, the NAB prosecutor said the reference was filed due to the SC’s judgment to which the Justice Aurangzeb noted that the court’s understanding was that the accountability watchdog was compelled to file the reference. At one point, the NAB lawyer was asked why the bureau did not challenge Maryam’s acquittal. To this, he said that the bureau did not challenge the acquittal at the time and the judgement was now “final”, therefore, he could not present arguments in this regard.
NEWS 03 Stakeholders unite for environmental flow assessment in Indus Basin
CorPorAte CorNer
Karachi: Pakistan grapples with a significant challenge – water scarcity, impacting crucial sectors like agriculture, food security, and societal well-being. In response to this pressing issue, the CGIAR’s NEXUS Gains Initiative, through the International Water Management Institute (IWMI) and the International Food Policy Research Institute (IFPRI), is implementing a comprehensive strategy. This initiative aims to address low water productivity and advance the Sustainable Development Goals (SDGs) by transforming the food, land, and water systems in the Indus Basin. IWMI has organized stakeholders’ consultation workshops at the federal level and the provincial levels. Today was the last workshop that was held in Karachi. The participants included from different line departments from the government of Sindh, WAPDA, DevCon, PCRWR, MUET Jamshoro, P&D department Sindh. A crucial aspect of this the initiative is the Environmental Flow (E-Flow) assessment of the Indus River basin, a pivotal vital step toward sustainable water management. Recognizing the pressing need for accurate data and informed decision-making, the International Water Management Institute (IWMI) and the Pakistan Council of Research in Water Resources (PCRWR) teams are set to apply an environmental flow model in the Indus Basin. This model aims to understand the environmental water needs for various river-reaches across the eastern and western rivers in the basin. pR
SNGPL swoop goes on as another 105 illegal connections cut in Punjab, KP and Islamabad
LahOrE: During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 105 connections while 386 under billing cases processed; Rs 4.38 million fine imposed. In Lahore, the regional team disconnected 20 connections on illegal use of gas while another 10 on use of compressor and 73 under billing cases have been processed.The team also imposed fine of Rs 0.86 million against gas theft and under billing cases . The regional team of Rawalpindi disconnected 1 connection on illegal use of gas.The team of Islamabad disconnected 3 connections on illegal use.In Multan 2 connections were disconnected on illegal use of gas,124 under billing cases have been processed and 0.19million booked against Under billing cases.The team also lodged two FIRs against gas theft cases.The team of Sheikhupura disconnected 13 connections on illegal use of gas,19 under billing cases have been processed and fine of Rs 2.23 million imposed against gas pilferes.In Sargodha 124 under billing cases processed and amount of Rs 0.06 million have been booked against Under billing cases. In Peshawar and Karak,the company disconnected 34 connections on account of direct use of gas and illegal use of gas and amount of Rs 0.78 million against gas theft cases .The team of Bahawalpur booked 26 under billing cases and amount of Rs 0.06 million against gas pilferes. pR
Country Residences Karachi’s grand launch held
Karachi: The highly anticipated grand launch of Country Residences Karachi, a flagship project by Country Builders and Developers and exclusively marketed by Graana.com, took place in a dazzling display of luxury and promise. Situated in the heart of Scheme 33, Country Residences emerges as a beacon of residential excellence, strategically positioned in an area poised for unprecedented growth. The project boasts the best possible location in Scheme 33, with direct access to three main highways, including Jinnah Avenue, Motorway M9, and University Road. The event was graced by the esteemed presence of industry leaders from the business and construction fraternity. CoChairman of Country Builders and Developers, Rizwan Adhia, and CEO Suffian Adhia honored the occasion with their presence, further elevating its grandeur. Group Director Graana.com, Farhan Javed, and Senior Regional Manager South, Usama Khan, also represented Graana.com. The event reached its pinnacle with the arrival of the Honorable Governor of Sindh, Kamran Khan Tessori, who presided over the ribbon-cutting ceremony, symbolizing the auspicious beginning of this monumental venture. pR
04 COMMENT
The complex interplay of trade, politics, and power in East Asia
Thursday, 30 November, 2023
The PTI lawyers
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Imran Khan’s choice to opt out of the chairmanship election gives his lawyers a greater hold over the party
TI Chairman Imran Khan opted not to contest in the intra-party election ordered by the Election Commission of Pakistan on pain of losing its registration. Instead, Mr Khan nominated a member of his legal team, Barrister Gohar Khan, for the chairmanship. The decision may be informed by a realisation that the intra-party election was meant to force Mr Khan out of the chairmanship. However, he remains the party’s sole vote-getter, and he is apparently betting that just as the PML(N)’s Mian Nawaz Sharif was ousted, even being forced to give up the Presidency of the party twice, but has made one comeback already, and now seems poised to make another, he too will make a comeback sooner or later. The decision may have bypassed Vice-Chairmman Shah Mehmoud Qureshi, but his being co-accused in the cipher case indicates that he might face the same lebal difficulties as Mr Khan. Barrister Gohar’s rise to the Chairmanship is a reflection of the prominence that lawyers have assumed within the PTI. There is a sound practical reason for this. The strategy of the powers that be has been to have Mr Khan face a large number of cases, including for the May 9 attacks. One result has been that the existing leadership structure of the PTI has been uprooted. Apart from the exodus of leaders at every level, the remaining leadership is on the run, trying to avoid arrest. Lawyers thus not only spend a lot of time with Mr Khan,, but they are the only ones who can meet him as he engages in legal consultation with them. Mr Khan’s decision reflects a development in his thinking, and it is difficult to avoid concluding that his legal troubles have focused him somehow. Actually, the strategy he seems to be following is quite reasonable. After all, there is an example before him, that of Mian Nawaz Sharif, showing that there can be a comeback after being ousted. It is also worth noting that Mr Khan has not followed the more recent example of Mian Nawaz, when he had brother Mian Shehbaz replace him as party President, by naming a member of the family. It should be remembered that the choice would be one of his sisters, or his wife, which would have been something of a high-risk strategy.
A region that bears careful watching
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Dr MuhaMMaD akraM Zaheer
AST ASIA is a region of immense economic significance and geopolitical importance characterized by a complex interplay of trade, politics, and power. This interdependence between these three factors has shaped the dynamics of the region which are influencing not only the prosperity and stability of individual nations but also the broader international environment. Trade has long served as a catalyst for economic growth and development in East Asia. The region has witnessed remarkable economic transformation over the past few decades, driven by its robust trade networks. Countries like China, Japan, South Korea, and others have become global economic powerhouses, with exports and imports playing a central role in their success. East Asia’s economic prosperity is inextricably linked to international trade. The growth of supply chains, manufacturing hubs and technological innovation has fueled economic advancement. Trade liberalization policies, such as the Asia-Pacific Economic Cooperation (APEC) and regional trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have facilitated trade integration and helped the region achieve economic interdependence. East Asia has seen the emergence of regional trading blocs like the Association of Southeast Asian Nations (ASEAN) and the East Asia Summit (EAS). These institutions have promoted economic cooperation, reduced trade barriers and enhanced cross-border investments and further deepening the region’s economic interconnectivity. The political situation of East Asia is marked by its rich diversity, historical tensions and shifting alliances. Politics not only influences trade policies but also shapes the regional balance of power. East Asia has been a focal point for global
Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Yousaf Nizami Editor Umar Aziz M. A. Niazi
power competition, particularly between the USA and China. The political maneuvering between these two giants affects trade dynamics, as it influences alliances, security agreements and economic dependencies. The U.S.-China trade war serves as a prime example of how politics can disrupt trade relations in the region. The distribution of power in East Asia is fluid, with a range of actors seeking to exert influence in different ways. National power and strategic interests play a crucial role in shaping the region’s dynamics. The USA consumes a significant amount of goods manufactured in Asia, which benefits the USA as a whole by providing consumers with cheaper products. However, this trade pattern simultaneously damages some US sectors and regions by harming local industries. What benefits consumers can lead to increased unemployment and lower wages, creating complex political dynamics within the USA? One of the characteristics of the USA is its tendency to not feel internal political concerns because it has a large scope to manipulate foreign policy. Therefore, the overall benefits of trading with Asia, the USA may find itself in a position where domestic political considerations force it to change its import policies from Asia. While this possibility is remote, it represents a serious threat to the interests of East Asia. China sends about a quarter of its total exports to the USA. If the USA were to ban Chinese products or impose tariffs that render Chinese goods non-competitive, China would face a massive economic crisis. The same would happen in Japan and other Asian countries. Countries facing economic collapse can become unpredictable and may attempt to open up other markets, sometimes through political or military pressure. The USA is also sensitive to domestic political pressures exerted by groups disproportionately affected by cheap Asian imports. In response to internal pressures, the USA may seek to reshape economic relationships in the
Executive Editor
The internet is very useful, but contains traps too
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Yaqoob ali baloch
HE modern inventions, innovations and the new technology have really brought this whole world towards a higher level of competence and have created a new platform of recognition and understanding of everything. This new technology has globally upgraded all human beings regarding the aspect of lifestyle, culture, traditions, manners and ethical behaviour. The Internet is one of the greatest inventions of the 20th century, because it has completely changed the way we think. We are connected to everyone and every country on the planet thanks to the Internet. These days, everyone is excited about using the Internet. Humans no longer function properly without it. It takes up a significant amount of our time. Nowadays, we use the Internet for practically all small and large tasks. Thid includes everything from looking for a job to enjoying music. We can’t deny the reality that the Internet is a constant necessity, but being Muslims, the usage of the Internet in Muslim Ummah seems like a grave concern to me because it is frequently utilized for objectionable or harmful ends. Being Muslims, we are allowed to make progress and move on with the world by our religion, but we aren’t allowed to break certain boundaries to which we are restricted by our religion. According to a report, there were 87.35 million internet users in Pakistan in January 2023. Pakistan’s Internet penetration rate stood at 36.7 percent of the total population at the start of 2023. A study by [Rooh-e-Aslam; Ali, Shahzad; Shabir, Ghulam. (2009, October 1). A critical study about the impact of internet on its users in Pakistan. THE FREE LIBRARY BY FARLEX. It suggested that, from (Section II Qualitative Analysis) in response to the question, “What is the role of internet in Pakistani society? Seventy percent of users said it had a negative impact on their society and 30 percent said it had both positive and negative impacts. The users also added that in Pakistan it has
adverse effects, and the users, especially teenagers, used it for killing time and chatting. People also use it for negative purposes like satisfying their wrong intentions by visiting immoral websites. It also damages moral and cultural values. Moreover, by focusing primarily on the hypothesis which authors have developed after reviewing the relevant literature, named H1: The Internet would create negative effects upon the moral values of users. It can be seen that results of the survey indicate that H1 predicts: the Internet will create negative effects upon the moral values of Pakistani society. This predication is proved as 79.4 percent (397) users said Internet affected the moral values and just 26.6 percent (103) disagreed.” I have drawn this conclusion from readings and critical analysis of the literature, as well as from personal observation in the localities and institutions around me that, not only youngsters but also the aged men and women are the part of this. In an indecent manner, people who belong to reputed status, position, and noble families are also part of this. This ugly usage of the Internet has really become a significant source of distraction for our Islamic society. We are currently unable to focus on important issues. From teenagers to seniors, we all waste precious time on social media applications connecting with illicit friends, forming false relationships,
The writer has a PhD in Political Science and can be reached at akramzaheer86@yahoo.com
The complex interplay of trade, politics, and power in East Asia shapes the regionÊs present and future. Trade is both a driver of prosperity and a potential casualty of political tensions while the distribution of power among nations can profoundly affect regional stability. The regionÊs evolving dynamics have broader implications for global affairs, making it imperative for nations in and beyond East Asia to navigate this intricate web of interactions with care and strategic foresight.
The illegal use of internet is the cause of destruction of our Islamic society Joint Editor
Pacific region. The USA cannot resort to protectionist legislation, supported by its military strength. Therefore, there is no real effective counter to the military or economic activities carried out by the USA in East Asia. From a self-preservation standpoint, the last thing any country in the region wants is conflict. However, objectively, there is a massive power imbalance. Any change in US policies can cause chaos in East Asia and it is not even conceivable that there will be a change in US policy. The threat of US sanctions against China, for example, which could allow the USA to try to limit oil imports from China, strikes at the core of Chinese national interest. Therefore, the Chinese must use their growing economic strength to develop a military option against the USA. They will simply act according to the basic principle of strategic planning: hope for the best and plan for the worst. In this context, China and Japan have no choice but to attempt to increase their military power for the next century. The United Nations will see this as a potential threat to US control over the Western Pacific. This will define defensive moves as offensive, which is objectively the case, no matter their personal intentions. Add to that the two continuously growing countries like South Korea and Taiwan and it’s certain that the region will become a powder keg in the 21st century. The complex interplay of trade, politics, and power in East Asia shapes the region’s present and future. Trade is both a driver of prosperity and a potential casualty of political tensions while the distribution of power among nations can profoundly affect regional stability. The region’s evolving dynamics have broader implications for global affairs, making it imperative for nations in and beyond East Asia to navigate this intricate web of interactions with care and strategic foresight.
sending inappropriate movies related to pornography, sharing inappropriate photos, and so on. As a result of this negative Internet usage, Our Muslim Ummah has strayed from our religion and lost the purity that was once found among the followers of Our Prophet Muhammad (PBUH) in earlier times. Because of our wrongdoing, we have also forgotten our manners, ethical principles, and traditions. We have created a lifestyle that is unhealthy and highly harmful to all of us as a result of its harmful usage. Here, I would say that although we often use the Internet inappropriately, it wasn’t intended for such uses. The Internet may also be utilized for beneficial and constructive purposes. Finally, I would advise and implore the entire Muslim Ummah that we should refrain from using the Internet while keeping in mind its negative impacts. We should be conscious of good and bad, legal and illegal behaviour and activities as mature and elderly individuals. Parental vigilance and awareness of our children’s online activities are essential. Instead of sitting around and engaging in negative activities on the Internet, we should urge our kids to pray, follow Islamic teachings, and work hard. We may create a sound, illustrious, and successful Islamic community by abstaining from this illegal use of the Internet.
The writer is currently working as a researcher in Mehran UET, Jamshoro, and can be reached at: yaqoobalibaloch4@gmail.com
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
Addressing harassment in Karachi
I write to highlight the escalating harassment issues in our beloved city of Karachi. Witnessing the distressing experiences faced by individuals, particularly women, on a daily basis deeply saddens me. Harassment has become a pervasive problem affecting many residents, compromising their freedom and mental well-being. It is crucial for us as a community to take decisive action, fostering an environment where everyone feels safe and respected. This requires a collective effort from the government, law enforcement agencies, and society. I urge authorities to prioritise implementing stricter laws against harassment and providing proper training for law enforcement personnel. Education is key, and we must integrate comprehensive awareness programs in educational institutions, emphasising consent, respect, and gender equality. Moreover, establishing easily accessible safe spaces and helplines for victims is crucial. These resources should be widely publicised to empower victims to report incidents without fear of judgement or reprisal. In conclusion, I implore authorities, community leaders, and citizens to unite against harassment. Together, let’s create an environment where everyone can live without fear. By taking a stand against harassment, we can build a city that is inclusive, safe, and respectful for all. SYEDA ABIHA HASSAN KARACHI
Awareness on thyroid issues
THYROID disorders are more prevalent in females due to the reproductive cycle and oestrogen hormones. I want to share common causes leading to thyroid issues. Stress is a primary cause, disrupting body metabolism and thyroid activity. Medications, radiation therapy, iodine deficiency, environmental toxins, postpartum factors, and ageing can also contribute. The body requires 150 mcg of iodine; an imbalance can lead to disorders. Understanding these causes is crucial for preventive care. Knowledge empowers individuals to manage their health effectively. ANAS ZAHID KARACHI
Salty solutions
Parental vigilance and awareness of our childrenÊs online activities are essential. Instead of sitting around and engaging in negative activities on the Internet, we should urge our kids to pray, follow Islamic teachings, and work hard. We may create a sound, illustrious, and successful Islamic community by abstaining from this illegal use of the Internet.
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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PAKISTAN, endowed with diverse natural and mineral resources, boasts an annual salt production of about 2 million tons, with the Khewra Salt Mine being a primary contributor. As the world’s second-largest salt mine, Khewra holds an estimated reserve of 220 million tons of rock salt, drawing both industrial significance and tourist interest. Among Pakistan’s unique salt varieties, Himalayan pink salt stands out. With a distinctive pink hue derived from iron oxide and other minerals, this salt is renowned for its perceived health benefits. Widely used for culinary purposes and as a decorative element, it has gained popularity both domestically and internationally, particularly in the USA. Pakistan proudly holds the title of the world’s largest producer and exporter of pink salt, intending to register it as a Geographical Indication to safeguard its authenticity and quality. Nevertheless, the country encounters challenges in advancing its salt industry, notably in areas such as marketing, value addition, and industry development. These challenges impact the global perception and competitiveness of Pakistani salt, limiting profitability and product diversification. In particular, insufficient marketing and branding, especially for pink salt, contribute to lower selling prices when exported, only to be rebranded and resold at higher prices by other countries. To unlock its full salt potential and compete globally, Pakistan must enhance salt quality, implement effective marketing strategies, and focus on value addition. AZEEM HAKRO UMERKOT
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COMMENT 05
Mysteries surrounding CPEC Thursday, 30 November, 2023
Monopolies must be avoided
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DR abDus sattaR abbasi
received a call with an invitation to join a round table conference (RTC) titled “New stage of high quality CPEC development” in a local hotel in Lahore. The phrase was attractive so I decided to join and comprehend the new stage for CPEC. I had quite a few questions for the speakers, especially the chief guest, the Consul General of China at Lahore. But I chose to hold my queries because as the discussion unfolded, I found the CPEC surrounded in numerous mysteries even after ten years of the inception of the project. The very first speaker was a provincial caretaker minister for health, for him CPEC could deliver the best of health services, he urged both countries to benefit from each other’s expertise. He gave some examples of specialized health facilities in both countries having potential for the counterparts to get benefit out of those healthcare providers. He also emphasized on the need for faculty exchange programmes so that they could learn from the experience of each other. There is absolutely no harm in establishing such exchange programs rather it is a natural outcome of any program of this scale between two nations. However, the fundamental purpose of CPEC is to strengthen the economic dimensions of the country. Despite having a health portfolio, I was expecting the speaker to give insight from the vision of the sitting government to get maximum benefit from the mega economic project. He then left immediately after his speech with the excuse of an important official engagement, which also suggests how important the CPEC is for the existing power corridor. Mr. Li Chen, the CEO of Orange Line Metro Train (OLMT), thoroughly explained the achievements of his organization in terms of serving passengers which currently remain around 200,000 per day. When he was explaining the details of the number of jobs created by the project (around 7000) and number of indigenous indus-
tries (around 50) developed to supply spare parts to the Orange Line Metro Train, it seemed that he was defending his position through these figures due to extensive pressure about the sustainability of the project. On one hand there is continuous debate on the subsidy extended to the OLMT by the government, on the other there is lack of consideration by the government for viable solutions to reduce the gap between the income and the expenditure of the project. Despite environmental attractiveness and convenience for millions of commuters, the fact remains that the long-term success of any project depends on sustainable operations. One of the important concerns remains that still the OLMT operates at less than its capacity. The second apprehension is about the rationalization of the fare and the third is about the commercialization of stations. These are certain opportunities to reduce the gap to ensure more revenue from existing infrastructure. A chief executive officer of a renowned private organization was also among the speakers. His enthusiasm about the potential of CPEC was amazing; however, he underscored that if Chinese authorities desired to witness swift progress of the project they needed to liaise directly with the vibrant private sector of Pakistan instead of operating under a military umbrella, which instantly distances successful private operations from coordinating with the Chinese counterparts. It was quite a frank comment inviting decision makers to ponder upon the apprehensions of the private sector. Concerns such as these clearly indicate the trust deficit which exists among different stakeholders of the society. Initially there was hue and cry from political fronts about different routes of the Corridor. But now observing anxieties from the private sector players indicates a strong need for the inclusion of all segments of the society to make CPEC a real success. It is a proven fact that only government-to-government engagements cannot guarantee success to any collaboration without peopleto-people engagements while private sector businesses
are the key for grassroot alliances in bilateral initiatives. Therefore, both China and Pakistan need to develop a framework to facilitate private sectors of both countries to join hands fearlessly for potential ventures determined by the market forces of demand and supply. I think, this will bring a huge improvement in collective ownership of people of both countries for projects envisioned through different initiatives under the bigger umbrella of CPEC as we are observing in the field of education through different scholarships and exchange programs across Pakistan and China where several educational institutions are taking initiatives at their own to develop ties with their counterparts in either country. The next speaker was a retired senior officer from the Pakistan Navy with expertise in maritime affairs. He nicely explained backward and forward integration for successful sea port operations. According to him, building a port is half of the job done; for a sustainable port it is important to have a safe and reliable network of roads and efficient railway infrastructure to facilitate transportation of goods to the sea port. Then smart automation of a port without human intervention is the key for the success of any port nowa-
Because when there is active engagement of masses in any economic or development project that extends benefits of the expansion to the common man and in return inculcates ownership of the project among people thus ensures convenient implementation of plans. On the other hand, continuous shelter of the state develops doubts about actual benefits of the project thus distances people from the policies and execution of the project.
Dutch pro-Israel politicians contribute to Islamophobia
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ibtissam abaâziz & Rahma bavelaaR
SRAEL is going to shoot you all,” a man shouted at a woman wearing a hijab who was with her child in a supermarket in The Netherlands. Another woman who stood in front of her home heard “Hamas Hamas” shouted at her by a passer-by who then also hurled a tirade of curses. A Muslim man was fired on the spot after years of service as a prison nurse because he shared an article with a colleague who asked about his views on Palestine. A Moroccan-Dutch teenager was questioned about his views on Hamas and pressed to take “sides” by his chemistry teacher in front of his classmates. As he made his way to a new workplace, a young Muslim man was notified by the job agency that the employer decided not to sign his contract because they’d seen he’d posted something in solidarity with Palestine on social media. Another Muslim woman was taken to task by her supervisor over the image of the Palestinian flag on the profile picture of her personal WhatsApp account and was pressured to remove it. A young woman was verbally and physically harassed, and called a terrorist by a passer-by when she stuck a ‘Free Palestine’ sticker on a light pole. This is but a small selection of the dozens of reports of Islamophobia and censorship documented by the Dutch foundation Report Islamophobia (Meld Islamofobie) since Israel started its bombing campaign in Gaza. The cases, which have risen exponentially since 7 October according to the organisation, range from restrictions on freedom of expression by employers and university boards, to physical and verbal assault. Many of the reports of everyday Islamophobia mirror media and political discourse in which Islam, Muslims and violence are often carelessly conflated. At first glance, these attacks appear to be a temporary consequence of international political tensions. However, the patterns visible in these cases point to a structural link between political discourse and policy on the one hand, and everyday Islamophobia on the other. Perpetrators readily assume a connection between Islam, Muslims (anywhere in the world) and terrorism. This does not come out of the blue. It is a consequence of an Islamophobic discourse with international reach that has permeated political rhetoric, policy and media framing in the Netherlands and across Europe for two decades. The consequence of stereotyping and racialisation is that Muslims are treated as a permanent security risk. Recent apologies by the Dutch Minister of Social Affairs about the covert state investigations in mosques and unlawful data sharing that took place on her watch, is just the most recent of in a series of revelations regarding Dutch government agencies trampling on the civil rights of Muslims. HOMOGENISING THE PALESTINE SOLIDARITY MOVEMENT: Report Islamophobia was founded as an independent citizen
initiative in 2015, when a wave of violence against Muslims in the Netherlands spread following the Charlie Hebdo attacks in Paris. The group’s 2019 research on Dutch Muslims found that all respondents had experienced Islamophobia more than once in previous years. More than half reported feeling increasingly unsafe due to experiences of everyday Islamophobia. Those feelings of fear, anxiety and exclusion have intensified in recent weeks. Today, political leaders are directly contributing to creating an unsafe climate for Muslims. With its unconditional support for Israel’s “right to self-defence,” outgoing Prime Minister Mark Rutte’s cabinet is being accused of complicity in the ethnic cleansing of Palestinians in Gaza. For many, this unquestioning support means the Dutch government accepts Israeli war rhetoric that identifies Hamas with the entire civilian population of Gaza, and equates Palestinians with animals and IS. This implicit association between Hamas and all Muslims is also applied to the local context. On 12 October, a majority in the Dutch House of Representatives voted in favour of a motion to reinforce Israel’s right to self-defence. On the same day, a majority also voted in favour of a motion that calls for the investigation of domestic support for Hamas. It included a reference to a 2021 report by the Dutch National Coordinator for Counterterrorism and Security (NCTV) which warned that ‘a support base for jihadism continues to exists in the Netherlands’ and that ‘renewed conflict in Israel/Palestine’ may result in ‘radical extralegal actions’ and ‘targeting Jewish objects… especially from the pro-Palestinian side. It is important to note that this risk-analysis is based on unsupported assumptions about a link between ‘jihadism’ and the entire Palestinian solidarity movement, not empirical evidence. The notoriously vague concept of jihadism links the supposed support for Hamas exclusively to the Dutch Muslim community and thus frames a hugely diverse pro-Palestine movement into an exclusively Islamic cause. New grounds for the surveillance of Dutch Muslims are being devised, while no one has yet been held accountable for the thousands of citizens in recent years whose names have been entered into a police terrorism registry without their knowledge. Names were gathered based on actions ranging from taking part in a demonstration, performing the Muslim prayer at school, or being in contact with someone under surveillance for (but not officially suspected of) ‘terrorist sympathies’. Indeed, racial profiling practices within anti-radicalisation policies has repeatedly resulted in security interventions against innocent Muslims. The voting through of the ‘Hamas motion’ will only green-lighting a further expansion of security policies that disproportionately targets this group. Furthermore, it reveals a deep cynicism amongst political representatives, that they seize the moment when thousands of Palestinian civilians are slaughtered by Israel under the pretext of ‘the war on terror’, to initiate increased surveillance of Muslims at home. The oppressive impacts of securitisation, on the other hand, seems to be of no interest to those in seats of power. This is unsurprising given it fits the policy framing they have developed, that Muslims are always potential perpetrators, and never victims of racist policies. CONFLATING PALESTINIANS, MUSLIMS & TERRORISM: In 1986, Israeli journalist Amnon Kapeliouk wrote in a French newspaper that it had become Israeli policy in the 1970s to describe Palestinian nationalism, in toto,
as “terrorism”. The goal, he wrote, was to dismiss the rightful Palestinian claim to the land from which they had been expelled in 1948. Edward Said cited Kapeliouk’s analysis a year later in a book review of Terrorism: How the West Can Win, edited by Benjamin Netanyahu. ‘Terrorism’, Said wrote, ‘serves to isolate your enemy from time, from causality, from prior action, and thereby to portray him or her as ontologically, gratuitously interested in wreaking havoc for its own sake’. Actions labelled as terror require no explanation. A terrorist is a category that conflates “the Muslim” and “the Palestinian” who is perceived to act out of an innate hatred and barbarism. In attempting to uproot it, therefore, anything is permissible. By invoking terrorism, Israeli leaders evade questions about their own actions in the fate of Palestinians. Since 9/11, Said’s analysis has only increased in relevance. Following Bush’s global “War on Terror” in 2001, the image of the Muslim terrorist has been fruitfully deployed to legitimise successive (neo)imperialist campaigns. The consequences are well documented: invasions and proxy wars in Afghanistan, Iraq, Somalia and the Sahel, among others, all resulting in mass murder and long-term political destabilisation. Israeli leaders, themselves a major source of War on Terror imagery and rhetoric, seamlessly adapted its framing of the Palestinians to whatever image of the quintessential terrorist prevails: Hamas is IS, 7 October is 9/11, is the name of the game today. This is not to say that islamophobia, censorship of pro-Palestinian views and actions, and of anti-Arab racism recorded across Europe and the US in recent weeks is equivalent to the gruesome violence inflicted on Palestinians in Gaza. Rather what is being highlighted here is the transnational nature of an anti-terror discourse that legitimises interventions against a homogenised and, as Said described it, “outside-of-history Muslim terrorist.” The woman abused in the supermarket, the man spat on and called a terrorist etc; these attacks are all fuelled and made possible by political policies that repeatedly reproduce the supposed inseparable links between Islam, Muslims and violence. Decades of framing Islam and Muslims as a security problem has resulted in a vicious cycle of suspicion, stereotyping and collective punishment. The recent acts of violence and censorship documented by Report Islamophobia demonstrate, once again, that policy framings and everyday islamophobia are intricately connected. The Dutch Minister of Social Affairs promised in a parliamentary letter last month that the ministry would do everything in its power to restore the trust of the Dutch Muslim community. However, good intentions and research funding to study communal needs are not enough to make this a reality. A paradigm shift is urgently required, that includes the safety of individuals not being determined by their religion, as well as an end to racial profiling and surveillance that pervade government policy at all levels. Recent national elections, which resulted in an overwhelming victory of Geert Wilders’ farright and rabidly Islamophobic Freedom Party (PVV) has only increased the need for, and lowered the odds of safety and justice for Muslims in The Netherlands.
Ibtissam Abaâziz is a sociologist and researcher. She is a co-founder of the Meld Islamophobia Foundation and S.P.E.A.K. Rahma Bavelaar is an anthropologist and the co-founder and chair of the Dutch NGO Report Islamophobia. This article was originally published in Dutch with OneWorld.
days. The next challenge for port authorities remains maritime facilities and safety of cargo operations. It is a cycle of efficient and effective integrated operation from the land to the sea which ensures the success of any seaport. Therefore, we still have to go quite a long way to make Gwadar a successful seaport. The last speaker was the Consul General of China in Lahore, the chief guest of the event. He shared highlights of “The Third Belt and Road Forum for International Cooperation” with representation from more than 150 countries of the world. He then started explaining his approach as a representative of the government and people of China. He summarized his duties as having a two-pronged strategy; first, strengthening friendship between two countries and second, protection of rights of people of China. He assured his commitment to maintain and fortify already ever strong bonding between China and Pakistan as all-weather friends. He particularly emphasized to ensure that funds channelized through CPEC are utilized optimally to achieve strategic objectives of the project. Diverse discussion in the RTC clearly indicate gap among priorities and focus at governmental and public level domains on both sides. There are clear apprehensions of Chinese side to trust their counterparts in Pakistan without military support or state guarantees which limits the potential of CPEC and hinders swift progress of the project. Because when there is active engagement of masses in any economic or development project that extends benefits of the expansion to the common man and in return inculcates ownership of the project among people thus ensures convenient implementation of plans. On the other hand, continuous shelter of the state develops doubts about actual benefits of the project thus distances people from the policies and execution of the project. Therefore, it will be a better option to take CPEC in the public domain to eliminate current mysteries surrounding the project.
The writer is Associate Professor of Management Sciences and head, Center of Islamic Finance, COMSATS University Islamabad, Lahore Campus
Pakistan’s battle for stability
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Omay aimen
N the wake of the Taliban’s resurgence in Afghanistan in August 2021, two decades after their expulsion by American forces, the geopolitical landscape of the region underwent a profound transformation. Pakistan was deeply implicated in the complex network of global attention and censure, strongly charged with allegedly aiding and abetting the Afghan Taliban in their conflict with the coalition forces commanded by the United States. In spite of Pakistan’s crucial role in promoting peace negotiations, the postconflict situation took an unanticipated and unsettling turn when terrorism visibly reappeared inside its borders, clouding the country’s laboriously constructed efforts to maintain stability and strengthen its security apparatus. When Pakistan welcomed four million Afghan refugees in 1979 during the Soviet invasion, the country’s dedication to humanitarian endeavors became evident. But the world community largely ignored Pakistan’s contributions, in spite of the country’s enormous sacrifices and earnest attempts. Although these refugees are evidence of Pakistan’s compassion, their presence has complicated the country’s politics, economy, and security. The concept of non-refoulement protection, in particular, seemed inadequate in addressing the changing needs of millions of refugees, who, it was widely believed, were no longer eligible for protection and refugee status. As nations such as Australia utilized “national security” exemptions to restrict the implementation of non-refoulement norms, Pakistan was obliged to confront the issue of Afghan refugees being forced to return to their country of origin. Regrettably, there was a noticeable surge in terrorist activity in Pakistan at the same time as this forced repatriation. Public opinion increasingly associated Pakistan’s response to the Taliban government’s alleged lack of cooperation about terrorism funded by Tehrik-e-Taliban Pakistan (TTP) with the expulsion of Afghan refugees. The leadership of Pakistan met in 2012 to discuss ways to counter the growing threat of terrorism. The result of this was the 2013 start of Operation Zarb-e-Azb, which was directed towards a number of extremist organizations, such as the TTP, Lashkar-e-Jhangvi, al-Qaeda, and others. The accomplishment of this mission led to a notable decrease in acts of terrorism. But tensions and hostility between Pakistan and Afghanistan have been heightened by recent clashes between their security forces, which highlighted the ongoing problem of the Pak- Afghan border contention. After the Taliban took over, there
were concerning doubts regarding Afghanistan’s involvement in attacks on Pakistan. Appearance of the Bannu bomber, who was identified as Afghan further manifests use of Afghan soil to perpetrate terrorism in Pakistan. Security agency assessments and forensic evidence pointed to a significant Afghan involvement in Pakistani terrorist actions. Events such as the early 2023 attack on Pakistan Army troops in North Waziristan, spearheaded by an Afghan Taliban commander who was now linked with the TTP, introduced a new facet to the intricate relations between Pakistan and the government run by the Taliban in Kabul. As events like the foiled attack at Zhob Cantonment and the attack in Mianwali demonstrated the involvement of Afghan nationals, the repatriation of Afghans gained pace. Pakistan faces significant obstacles in combating cross-border terrorism, as evidenced by the recent intelligence-based operations in Tank district’s Kot Azam that claimed the lives of six militants, including citizens of Afghanistan. One of the main factors influencing the repatriation operations was the involvement of Afghan individuals in terrorist activities in Pakistan. Pakistan was met with ungratefulness by the Afghan people after decades of unwavering support for Afghanistan, including help in driving out Soviet soldiers and offering sanctuary during the US-led war on terror. Pakistan resisted taking military action against the Afghan Taliban leadership despite pressure from the US, only to have its efforts ignored and undervalued. Pakistan finds itself in a difficult diplomatic position as a result of accusations that it is manipulating the Afghan crisis and its inability to forge a cordial western border. The hard-won security brought about by years of counterterrorism work is seriously threatened by the rebirth of terrorism within Pakistan’s borders, as the country struggles with the complexity brought about by the Taliban’s return to power in Afghanistan. The Afghan refugee problem complicates an already complicated situation by being entwined with challenges related to national security and diplomacy. In order to meet these difficulties, the international community must work together to address the underlying causes of instability and advance long-lasting peace in the region, in addition to reevaluating regional initiatives. Pakistan’s continuous battle is a sobering reminder that serious and cooperative efforts from all parties involved are necessary to bring about regional peace. The author frequently contributes on issues concerning national and regional security, focusing on matters having critical impact in these milieus. She can be reached omayaimen333@gmail.com
06 NEWS
AS GLOBAL RATES TURN, BANKS IN INDIA, INDONESIA SET TO WIN
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S Asia’s banking sector navigates a peak in global interest rates and risks of slower growth, investors are wagering that banks in India and Indonesia have the strongest loan and profitability profiles to provide returns next year. Over the past 18 months Asian central banks tracked the U.S. Federal Reserve tightening monetary policy to battle inflation, but their interest rates hikes were smaller and slower, resulting in better interest income for the region’s banks without loan growth suffering. Banking indexes in India (.dMIIN0CB00PUS), Indonesia (.dMIID0CB00PUS) and Thailand (.dMITH0CB00PUS) have all outperformed
the broader MSCI Asia ex-Japan index (.MIAPJ0000PUS) as well as the S&P banks index (.SPXBK) since March 2022, when the Fed started raising rates. But now, as a steep global rates cycle peaks and the spectre of recession looms, investors are turning selective and focusing on banks that kept funding costs down while expanding loans. “The hope is that we’re going to see a mild rate-cutting cycle coming into next year, nothing too aggressive … that should generally be positive for the financial sector in Asia because it should spur loan growth,” said Frederic Neumann, chief Asia economist at HSBC. Neumann points to India, where banks have delivered double-digit loan growth over the past few months due to rising demand for credit in the world’s most populous but under-banked nation.
Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Analysts at J.P. Morgan say Asian banks, excluding China’s, have led in the global demand for aggregate loans, and their interest margins of 2.4% in 2022 were already at pre-pandemic levels. Xin-Yao Ng, investment manager of Asian equities at UK fund manager abrdn, says the easy wins for banks from rising borrowing costs are over, which makes him selective.“We think rates have peaked or are near peak, but the way down will be less steep than the way up. Thus, this headwind will be more gradual, not an earnings shock,” Ng says. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to
Israeli jails. PHOTO: AFP “Our main focus right now, and our hope, is to reach a sustainable truce that will lead to further negotiations and eventually to an end… to this war,” foreign ministry spokesman Majed Al Ansari told a Doha news conference. “However, we are working with what we have. And what we have right now is the provision to the agreement that allows us to extend days as long as Hamas is able to guarantee the release of at least 10 hostages.” That provision has allowed the two-day extension that saw 10 Israeli captives released from Gaza overnight Tuesday, along with two Thais freed outside the scope of the agreement. An AFP journalist saw masked and armed fighters from Hamas and Islamic Jihad hand over hostages to Red Cross officials in Rafah, near the border with Egypt. The Israeli captives freed were all women, including 17year-old Mia Leimberg, who returned to Israel with her mother and aunt. Israel’s government has received a list of the new captives to be freed Wednesday, local media reported. There was no official confirmation. So far, 60 Israeli captives have been freed from Gaza under the terms of the deal, with a Russian-Israeli, 20 Thais and one Filipino freed outside the scope of the agreement.
In return, 180 Palestinian prisoners — all women and children — have been released from Israeli jails. Among them was 14-year-old Ahmad Salaima who returned to his home in east Jerusalem to cheers and hugs from relatives. “When Ahmed was in prison, we couldn’t visit him, even though he’s the youngest Palestinian prisoner at just 14 years old,” his father Nayef said. The truce agreement has brought a temporary halt to fighting. Israel’s aerial and land bombardment of Gaza has killed nearly 15,000 people, and rendered large parts of the territory’s north uninhabitable. The World Food Programme warned Tuesday that Gaza’s population faced a “high risk of famine if WFP is not able to provide continued access to food.” Conditions in the territory are “catastrophic,” the agency’s Middle East director said, while a spokesman for the UN children’s agency UNICEF said aid entering Gaza under the truce deal was “not even enough for triage.” The dire humanitarian situation has piled on pressure for a more lasting pause or even an end to the fighting, though Israel has made clear it sees the truce as a brief interlude to ensure hostage releases before its war continues. The head of the CIA and the director of Israel’s Mossad spy agency were in Doha to discuss the truce with Qatar’s prime minister, a source briefed on their visit said, asking not to be named because of the talks’ sensitivity.
12 more Israeli captives freed as mediators seek lasting truce GAZA
agencies
A truce between Israel and Hamas enters its sixth day Wednesday after additional captives were released in exchange for Palestinian prisoners, with mediators pushing for a “sustainable” ceasefire. After a 48-hour extension of an initial four-day truce, a new group of 12 captives was freed from Gaza on Tuesday, with 30 Palestinians released from Israeli prisons. The final 24 hours of the extended agreement begins later Wednesday, with one more exchange of captives for prisoners expected, but mediator Qatar said it was hoping for a more durable arrangement. Newly released Palestinian prisoner Rouba Assi is carried by supporters during a welcome ceremony for prisoners freed from Israeli jails. PHOTO: AFP Newly released Palestinian prisoner Rouba Assi is carried by supporters during a welcome ceremony for prisoners freed from
Chinese FM chairs UN Security Council meeting on Palestinian-Israeli issue NEW YORK
Mian abrar
Chinese Foreign Minister Wang Yi chaired a United Nations Security Council high-level meeting on the Palestinian-Israeli issue in New York on Wednesday. Prior to the UNSC meeting, Wang Yi reiterated the country’s stance on the PalestineIsrael conflict with UN Secretary-General Antonio Guterres on Tuesday, before chairing a UN Security Council high-level meeting on the issue. Wang stressed that China stands firmly on the side of peace, and called for a complete ceasefire, as well as the implementation of a two-state solution as soon as possible. Chinese observers said Wang’s propositions, as well as China’s chairing of the high-level meeting, come at a key juncture as Palestine and Israel are in temporary truce. These moves highlight the most pressing issues and lay the foundation for the future solution of the Palestine issue. Experts hailed Wang’s attendance at the meeting, as it shows that China has great sincerity to seek solution for the crisis. However, even if Israel and Hamas agree to extend the truce for two more days, experts believe that the possibility of it becoming a long-term cease-fire is slim. As the crisis drags on, the US is sending signals to international community that there are divergences between US itself and Israel, in the hope that it will save itself from the current diplomatic pothole trying to continue pull over Arabic countries, so to contend against China’s influence, said experts. On the Palestine-Israel conflict, China stands firmly on the side of peace, human conscience and international law, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said in a meeting with Guterres in New York. China supports the UN and the secretary-general in playing their unique and irreplaceable role in resolving the Palestine-Israel conflict, Wang said, noting that China’s position is clear. First, there should be no reignition of the war, he said. A complete ceasefire should be achieved to avoid greater humanitarian disasters, and the hostages should be released. Second, unhindered access of humanitarian supplies to Gaza needs to be ensured, Wang said. And third, the two-state solution should be restarted at an early date. Wang made the remarks before chairing a UN Security Council high-level meeting on the Palestinian-Israeli issue, which is scheduled for Wednesday. Wang also told Malaysian Foreign Minister Zambry Abdul Kadir on Tuesday that the UN’s high-level meeting is held at a crucial juncture as it coincides with the last day of the temporary ceasefire agreement. We must not allow the resumption of hostilities and the infliction of further harm on innocent civilians. The conference should release a clear message regarding this matter.
sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. Indian banking bellwethers HDFC (HDBK.NS), ICICI (ICBK.NS), Kotak Mahindra Bank (KTKM.NS) and Axis Bank (AXBK.NS) comprise a major part of the portfolio of Vinay Agarwal, Asia portfolio manager and director at FSSA Investment Management. Agarwal said the increase in
Thursday, 30 November, 2023 | ISLAMABAD
disposable income in India will mean consumers will want more than just a bank deposit, leading him to pick banks which are market leaders even in asset management and insurance businesses. Indonesia’s Bank Central Asia (BCA) (BBCA.JK) “is just a class apart,” said Agarwal. Morgan Stanley added BCA to its focus list for Asia-Pacific excluding Japan this month, citing its strength in deposit franchise and loan pricing. The risk for investors lies in the rich valuations of these banks. HDFC and ICICI trade at a price-to-book (P/B) ratio, a metric that compares stock price with underlying assets, of 3, while Axis trades at 2.3 and BCA at 5. That compares to price-to-book ratio for MSCI’s index for Asian banks all-country (.dMIAS0CB00PUS) of 0.9.
Thursday, 30 November, 2023 | ISLAMABAD
CORPORATE CORNER
Saquib H. Shirazi (CEO Atlas Honda) with Shinji Aoyama (Representative Executive Officer and COO, Honda Motor Co.), Noriaki Abe (Chief Officer Motorcycle and Power Products Business, Honda Motor Co.), Aamir H. Shirazi (President Atlas Group), Toshio Kuwahara (President and CEO Asian Honda) on the occasion of unveiling Honda BENLY e in Pakistan.
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staff report
PECIAL Asssistant to Prime Minister for human rights and empowerment, women Mushaal Hussein Mullick, has said that higher education is not just a pursuit of knowledge but a gateway to critical thinking and skills acquisition. It provides individuals, especially women, with the necessary resources to navigate an ever evolving world. She was addressing the opening ceremony of the two day international conference at Fatima Jinnah Women University Rawalpindi. The two days international conference would bring together distinguished guests, scholars, and policymakers to explore the nexus between higher education and women empowerment.
Mushaal Hussein Mullick threw light on the systematic obstacles women had faced in accessing higher education in the past. She said that though some milestone in this regard had been achieved, challenges such as gender bias, cultural norms and economic disparities are still hindering women’s educational access. SAPM said that Zainab Alert Response and Recovery Act, 2020; Enforcement of Women’s Property Rights Act 2020; The Anti Rape (Investigation and Trial) Act 2021; and The Protection against Harassment of Women at Workplace (Amendment) Act, 2022 are significant legislation enacted by the Government to protect and empower women. She stressed the connection between women's education and economic progress. Spending on women’s higher education is an investment in the country’s economy, leading
to a more diverse and innovative workforce and reduced poverty rates, she added. Mushaal Mullick highlighted that education goes beyond academic accomplishments to critical thinking, problem-solving, and communication skills which are essential for effective leadership. Women with education are not merely economic contributers but also act as agents for driving social transformation, She further said.Sharing her personal commitment to gender equality and women empowerment, SAPM said that she had initiated a 100 days Action Plan to support human rights and women empowerment. She further said that Minisry of human rights had initiated work on a National Gender Policy in consultation with all stakeholders to end violence against women. She further said that the Legal Aid and Justice Authority Act, 2020 en-
Caretaker Minister Dr Kausar Abdullah Malik chairs 46th BoG meeting of PARC KARACHI: Sindh Governor Kamran Tessori, Chinese Consul General Mr.Yang Yundong, UAE Consul General Mr. Bakheet Ateeq AL- Romaithi, Mahmood Ahmed Khan and Dr Mirza Ikhtiar Baig, at Proptech & Smartech.
Nestlé Pakistan contributes PKR 5m to support hundreds of children at SOS Children’s Village
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staff report
The 46th meeting of the Board of Governors of Pakistan Agricultural Research Council (PARC) was held under the chairmanship of Federal Minister for Food Security and Research Dr. Kausar Abdullah Malik. On this occasion, Chairman PARC Dr. Ghulam Muhammad Ali, Member Finance Division Muhammad Saeedullah Yousafzai, Member In-Charge (Plant Science Division) Dr. Imtiaz Hussain, Member In-Charge (Coordination and Monitoring Division) Dr. Falak Naaz, Member In-Charge (Animal Science Division) Dr. S. Murtaza Hasan Andrabi, Member In-Charge (Natural Resources Division) Dr. Shahid Maqsud Gul. Member In-Charge (Social Sciences Division) Dr. Ghulam Sadiq Afridi, Director General NARC Dr. Shehzada Asad and Secretary PARC Muhammad Ishaq were also present. While presiding over the meeting, Federal Minister for Food Security and Research Dr. Kausar Abdullah Malik said that PARC should take full measures to benefit the farmers from their experiences, scientific staff plays an important role in any research institute, scientific staff is the backbone of PARC.
Dr. Kausar Abdullah Malik emphasized that a committee should be formed as soon as possible for the recruitment of scientific staff on a permanent basis and a plan should be drawn up in accordance with the rules and regulations so that talent is provided opportunities in their own land instead of going abroad. The Minister said that the efforts of our scientific staff in agriculture are exemplary, constant liaison should be maintained with all the provinces regarding experiences in agriculture sector so that they can be provided more support from research in agriculture sector. The Minister suggested that the meetings of the Board of Governors should be held in the provinces
staff report
Committed to the welfare, upbringing, and education of orphaned children of Pakistan Nestlé Pakistan extended corporate contribution worth PKR 5 million to support SOS Children’s Village in its endeavors, as part of its philosophy of Creating Shared Value (CSV). Talking at the event, Jason Avanceña, CEO, Nestlé Pakistan said, “It’s a privilege to be here today to witness the incredible work SOS Children’s Villages is doing for the communities of Pakistan especially its voluntary efforts in providing a loving and nurturing environment for orphaned children. “It is highly commendable to see how your organization is tirelessly working toward empowering these children. Your tireless efforts have made a profound difference in the lives of countless individuals and communities in Pakistan. And it is this passion that has always led Nestlé to partner and support your activities and projects in the past too,” he said. He added that, Nestlé Pakistan believes in the philosophy of Creating Shared Value (CSV) where we collectively work towards a clear, common goal: to be a ‘force for good’. “We recognize that we have a responsibility to contribute to the well-being and development of the communities in which we operate,” he said. Thanking Nestlé for its contribution, Souriya Anwar, President SOS Children’s Villages said, “We are grateful for Nestlé’s support towards our cause. The concept of SOS is to provide a loving, caring, and secure home to the parent-deprived community of children.
FBR Committed To Eliminate Tax Evasion In Sugar Industry
Monitoring teams from Field formations of FBR have been deputed on sugar mills across the country. Sugar is one of the notified products on which monitoring or tracking of production, sales, clearances, stocks or any other related activity is implemented. Affixation of tax stamps is mandatory on each and every bag of sugar produced or supplied violation of which is a punishable offence under section 33(23) of the Act and liable to confiscation of products. Furthermore, the defaulter upon conviction can also face imprisonment upto 03 years. Any effort at evasion of sales tax on sugar shall be dealt with iron hands and Mill owners will be prosecuted for the offence.
Daraz connects local communities and small businesses during 11.11 Biggest Sale of Year to enable ecommerce for everyone KARACHI
staff report
Daraz, the leading e-commerce platform in South Asia, has concluded its highly anticipated 11.11 Biggest Sale of the Year, with over 34 million users across Pakistan visiting Daraz and female sellers experiencing an average of over 170% increase in sales as opposed to a non-campaign day. The mission of Daraz is to make e-commerce accessible for everyone by offering the best prices and variety to the local communities. This year, Daraz saw an uplift across all categories including electronics, fashion, beauty, and groceries. Shoppers enjoyed substantial savings on their purchases reaffirming Daraz’s commitment to helping local communities improve their quality of life.
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WOMEN’S ACCESS TO HIGHER EDUCATION CRUCIAL TO TRANSFORM THE WORLD: MUSHAAL NEWS
NCHR signs MoU for joint efforts to promote religious harmony in country ISLAMABAD
staff report
To promote interfaith harmony in the country, the National Commission for Human Rights (NCHR) has signed a Memorandum of Understanding (MoU) with the Legal Aid Society (LAS). As per this MoU, both sides will collaborate in implementing “Protecting and Promoting Religious Freedom in Pakistan,” a comprehensive two-year program for Sindh and South Punjab that aims at fostering an environment of interfaith harmony and bolster the minority rights. Over the next two years, the project is dedicated to safeguarding the rights of religious minority communities through empowerment and knowledge, enhancing the capacity of the criminal justice sector, and fostering inclusive dialogues that shape positive legal, political, and social narratives. Other key partners of
the project include Aahung and the Roshni Welfare Organization. While speaking at the project orientation workshop Chairperson of NCHR Rabiya Javeri Agha briefed the participants about the researches and efforts done by the Commission to protect and promote the minority rights in Pakistan. She also detailed the commission's mandate and its efforts in advocating for women's rights, minority rights, transgender rights, mental health, child labor, and the plight of Afghan refugees. She said that NCHR's expertise would be pivotal in leading the advocacy component of this project alongside LAS. Chief Executive Officer LAS Haya Eman Zahid articulated the vision and mission of LAS and set the tone for the program's approach towards inclusive and effective implementation. Associate Director of LAS Maliha Zia Lari briefed the participants about project's origins, evolution, and strategic design.
VEON Group CEO urges urgent reforms to boost investor interest in telecom sector ISLAMABAD
staff report
The Chief Executive Officer of VEON Group, Kaan Terzioglu, accompanied by VEON Group Director of Corporate Affairs, Marine Babayan, and CEO of Jazz, Aamir Ibrahim, met with Federal Minister for IT and Telecommunication, Umar Saif and Chairman, Pakistan Telecommunication Authority, Major General (r) Hafeezur Rehman on Wednesday. During the meeting, the delegation presented a comprehensive overview of Jazz's substantial investments in Pakistan, surpassing $10.6 billion. These investments focus on advancing the country’s digital infrastructure, including mobile broadband expansion, fintech - JazzCash, cloud & cybersecurity platform Garaj, and various digital lifestyle services - Tamasha and BiP. While stressing Jazz's unwavering commitment, along with JazzCash and Mobilink Microfinance Bank, to capitalize on all available
opportunities to accelerate the realization of Digital Pakistan, the delegation also pointed out the urgent need to address key challenges facing Pakistan's telecom sector, emphasizing that resolving these issues is crucial for realizing Pakistan’s potential for attracting international investments and accelerating the integration of future technologies. The challenges facing the industry include, the lowest global average revenue per user (ARPU), a high taxation environment, a significant increase in business costs—especially due to the soaring dollarpegged spectrum prices—and the depreciation of the Rupee over the years. He highlighted that these factors adversely impact investment appetite, posing a threat to ensuring consistent improvement in service quality. Sharing his views, VEON Group CEO, Kaan Terzioglu, said that the mobile industry plays a crucial role in driving economic growth, championing digital inclusion, and enabling other sectors to thrive. Despite these contributions.
Standard Chartered announces winners of WomenInTech Cohort 5 KARACHI
staff report
Standard Chartered Bank (SCBPL), in partnership with INNOVentures Global (Private) Limited, announced the winners of #SCWomenInTech Cohort 5, 2023. The WomeninTech program is designed to foster gender representation within technology-based entrepreneurship, with a special emphasis on promoting financial inclusion. Launched in Pakistan during 2019, the WomenInTech programme aims to support gender representation within technology-based entrepreneurship. During the selection phase of this programme in 2023 a Cohort of twenty-five start-ups was selected, representing businesses in fourteen different business verticals. The participants got the opportunity to go through an extensive capacity-building programme complemented by a seed grant for the winners. Over the years, WomenInTech programme has awarded approximately PKR 30 million as grant money. Besides these declared grants awarded between the years 2019 to 2022, more than
two start-ups have undisclosed investments raised through one successful acquisition exit. As the ‘Application Phase’ of the WomenInTech 2023 was completed recently, there was a significant increase in the number of women founders showing interest, as more than 1700 applications for participation were received from more than 100 cities and towns. Almost 300 applications were selected for pitching before a screening jury. Finally, 50 applicants from 13 cities were invited to pitch, based on their eligibility criteria and the uniqueness of their start-ups.
acted by the Federal Government provided legal and financial assistance to ensure access to justice to vulnerable groups, including women, in criminal cases.She underscored the need to extend women's empowerment beyond the classroom to mentorship and supportive networks. Mushaal said that the establishment of Provincial Commission on status of women (PCSW) helplines 1043, KPK Bolo helpline, Sindh Women Development Department Helpline 1094, and Tele Psycho Social Support Services were crucial in combating Gender Based Violence (GBV).Describing the distressing situation in the Indian illegally occupied Kashmir and Palestine, Mushaal Hussein Mullick said that Kashmiri and Palestinian women were facing a complex and challenging reality due to the prolonged land disputes in the region.
Pakistan Navy special services group participates in bilateral exercise Ayyildiz in Turkiye
ISLAMABAD,
staff report
Pakistan Navy Special Service Group SSG(N) participated in bilateral Special Operations Forces (SOF) Exercise ‘AYYILDIZ 2023’ with Turkish Su Altı Taarruz (SAT) at Istanbul, Turkiye. The exercise is regularly conducted in Pakistan and Turkiye alternately. The aim of the exercise was to strengthen military relationships, improve coordination & interoperability and exchange of professional expertise in Special Operations Forces (SOF) domain. During exercise several basic to advance level exercises were conducted.
VISA, VRG enter strategic partnership
ISLAMABAD
staff report
The SPA brings together VISA the world’s leader in digital payments with its network of networks strategy and VRG technological innovation, in particular incorporating SBP and PTA’s nearly 9 million in their innovative Asaan Mobile Account (AMA) Scheme to help empower the digitization of payment services in Pakistan and VISA’s Central Europe, Middle East and Africa (CEMEA) Region. The VISA and VRG partnership seeks to address the World Bank and Pakistan’s “National Financial Inclusion Strategy” (NFIS) initiative in addressing the specific financial needs and preferences of the local population particularly women, in tailoring digital payment solutions to match the diverse demands of Pakistan and VISA’s CEMEA region. This innovative strategic collaboration is a step towards driving digital transformation across the government sector in support of Pakistan’s cashless future agenda. The aim is to emphasize the importance, particularly in emerging markets, of financial inclusion and women empowerment while providing financial institutions and their customers with more choices when making payments while improving the end-to-end speed, transparency and better customer experience. The SPA primarily focusses on streamlining fragmented aspects of the financial ecosystem using the technological strengths of both entities.
CAA conducts mock emergency exercise at Islamabad Airport today ISLAMABAD
staff report
Pakistan Civil Aviation Authority (PCAA) at Islamabad International Airport is conducting a mock Full-Scale Airport Emergency Exercise on Thursday, 30th November 2023. This exercise is conducted once in two years in line with the International Civil Aviation Organization (ICAO) standards and recommended practices. The exercise is aimed to test the operational readiness of PCAA’s Crisis and Emergency Response Plan (CERP), with a specific focus on evaluating and strengthening the coordinated response efforts of both PCAA's internal departments and external emergency services. The primary objective of this exercise is to enhance coordination among the participating departments, ensuring they are fully prepared to conduct rescue and firefighting operations in the event of an aircraft accident on the airport. This proactive approach underscores PCAA’s commitment to passenger safety and emergency preparedness. A diverse group of participants will be involved, including PCAA's own emergency teams, external fire and rescue services, medical personnel from hospitals, ambulance services, and various security agencies. To simulate a real-life emergency, an aircraft will be used during the drill. The exercise will involve boarding mock passengers, carrying out firefighting and rescue operations, and managing the transportation and care of dummy casualty passengers.
PAKISTAN SECURES MULTI-BILLION DOLLAR INVESTMENT FROM KUWAIT AMID ECONOMIC WOES
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AKISTAN and Kuwait signed numerous memorandums of understanding (MoUs) as the struggling South Asian nation seeks multibillion dollar investment from the Gulf state. The signing came as caretaker Prime Minister Anwaar-ul-Haq Kakar visited the Gulf state on a two-day visit, where leaders from both sides agreed to bolster bilateral and economic ties, days after Islamabad signed several MoUs with the UAE to attract investment worth billions. A statement from the PM’s Office mentioned that the interim premier and Kuwait’s First Deputy Prime Minister and Minister for Interior Sheikh Talal Al-Khaled AlAhmad Al Sabah underlined the importance of historical brotherly ties between the two
countries. During a meeting, they reaffirmed the desire to strengthen the fraternal ties by transforming them into a mutually rewarding economic partnership. Chief of Army Staff General Asim Munir was also present during the meeting. The leaders also witnessed the signing of seven agreements concluded to attract multi-billion dollars in investment from Kuwait in various sectors of Pakistan — including food security, agriculture, hydel power, water supplies, the establishment of mining fund to support mineral industry, technology zones development, and mangrove preservation. In addition, three MoUs in the fields of culture and art, environment, and sustainable development were also signed. The leaders expressed great satisfaction at the trajectory of relations, agreed to remain in close contact, and take swift steps in further strengthening and deepening Pakistan-
Kuwait relations. The prime minister termed these agreements with Kuwait another milestone in the achievements that the Special Investment Facilitation Council (SIFC) platform was bringing to the country. Pakistan’s economy is in dire straits with its foreign reserves depleting quickly amid less inflows from overseas investors. According to a report by BMI Research, a Fitch Solutions company, the Pakistani rupee (PKR) is expected to continue its downward spiral and reach a historic low of 350 per dollar by the end of 2024. The country was on the brink of default last year, but it was averted after the International Monetary Fund (IMF) approved a short-term bailout with strict conditions — pushing the inflation up as Pakistan underwent several structural reforms, which saw an increase in gas, energy, and petrol prices.
Competition appellate tribunal appoints a new chairman, here is why that is important g
Gridlock expected to clear as tribunal resumes operation after 7.5 years and 212 pending cases ISLAMABAD
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The Federal Government has finally appointed Justice (Retd) Mazhar Alam Miankhel as the Chairman of the Competition Appellate Tribunal, marking the tribunal’s full functionality after a hiatus of 7.5 years in the last decade. Justice Miankhel, a former Chief Justice of the Peshawar High Court and a retired judge of the Supreme Court, will serve a three-year term following approval by the federal cabinet during its Wednesday meeting. With 212 pending cases, the Competition Appellate Tribunal’s revival is a crucial step towards addressing legal bottlenecks that have plagued the competition landscape. Over the past decade, due to its non-functionality, concerned entities resorted to High Courts, resulting in 140 petitions seeking alternate remedies. WHAT PURPOSE DOES THE TRIBUNAL SERVE? The Competition Appellate Tribu-
nal (CAT) in Pakistan is a specialized forum that handles appeals against decisions of the Competition Commission of Pakistan (CCP). The Competition Commission of Pakistan is the country’s competition regulatory authority responsible for ensuring fair competition and preventing anti-competitive practices in the market. The Competition Appellate Tribunal was established under the Competition Ordinance, 2007, to provide an avenue for parties to appeal decisions made by the Competition Commission. Its role includes hearing and deciding appeals against orders, decisions, or determinations of the Competition Commission. The tribunal operates independently to ensure a fair and impartial review of competition-related cases. THE COST OF INACTION: Over the last 7 years, the competition commission of Pakistan has faced extreme challenges in doing its job. With over 550 cases and inquiries unresolved, and over 68 billion in fines stuck in a
legal limbo, the commission has had its role undermined by players from all the sectors of business. One big reason for this prevailing legal stalemate, has been the absence of a chairman in the Competition Appellate Tribunal. With an active tribunal not able to listen to complaints, companies have found themselves at the doorstep of the Competition Appellate Tribunal, as a mere delaying tactic to avoid legal action against them. Profit has previously reported on the cases of Mezan Beverages and Atlas Honda Cars, just to name a few who have been able to diverge from legal action because of the tribunal. Another high-profile case awaiting the Tribunal’s attention is the sugar cartel case, involving a substantial Rs. 44 billion penalty imposed by the CCP on the Pakistan Sugar Mills Association and its member sugar mills. The resolution of such cases is anticipated to bring clarity and efficiency to the affected industries at large.
ECP rejects Punjab interim govt’s proposed uplift schemes ISLAMABAD
Staff RepoRt
The Election Commission of Pakistan (ECP) has rejected a list comprising 875 development schemes proposed by the Punjab caretaker government. The electoral watchdog informed the provincial government on Wednesday about its decision, citing concerns over the potential for these schemes to influence the upcoming general elections. Out of the 876 new schemes submitted for approval, only one scheme related to the construction of a new cemetery was given the green-light. The ECP approved the Rs10 million scheme, deeming it essential for public service provision. The ECP’s decision stems from its commitment to ensuring a fair and impartial electoral process. The commission expressed concern that the approval of these schemes could be perceived as an attempt to gain political favor, thereby undermining the integrity of the elections. The caretaker government of Punjab has expressed disappointment with the ECP’s decision, arguing that these schemes are crucial for the development of the province. However, the ECP has maintained its stance, emphasizing the need to uphold electoral neutrality. The ECP’s decision has sparked a debate on the balance be-
tween development and electoral integrity. While development projects are essential for public welfare, it is equally important to safeguard the integrity of the electoral process. The ECP’s decision highlights the delicate balance that needs to be struck between these two competing interests.
WHAT IS EXPECTED TO CHANGE? The Competition Commission of Pakistan (CCP) expressed satisfaction with this new development, emphasizing that a functional Tribunal would expedite decisions in pending cases. Delays in resolving appeals had previously hindered the implementation of vital CCP orders across diverse sectors such as sugar, cement, fertilizer, telecom, banks, and consumer goods. Justice (Retd) Miankhel’s reputation for judicial integrity and standing aligns with the legal requirements for the Tribunal’s Chairman. According to the law, the Chairman must be a former Chief Justice of a High Court or a retired judge of the Supreme Court. Additionally, the Tribunal comprises two technical members with expertise in international trade, law, economics, finance, and accountancy, ensuring a comprehensive and knowledgeable approach to competition-related matters. As the Competition Appellate Tribunal resumes its operations under the leadership of Justice (Retd) Miankhel, stakeholders are optimistic about the expeditious resolution of pending cases and the Tribunal’s vital role in fostering fair competition within the Pakistani business landscape.
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Atlas Honda, Pakistan’s largest two-wheeler manufacturer, has unveiled its inaugural electric two-wheeler for Pakistan. The vehicle, christened the BENLY-e, is currently in its test marketing phase, and as such neither has a release date nor a price tag. However, its advent heralds the dawn of a new era in the two-wheeler space: electric mobility. The Honda BENLY-e was revealed by Noriaki Abe, Chief Officer of Motorcycle and Power Products at Atlas Honda, at a ceremony held at Atlas Honda’s Sheikhupera factory on November 28 as part of its 60th anniversary celebrations. During the event, Noriaki Abe announced that the Honda BENLY-e was a trial product, and the company would introduce innovative products based on the market feedback. Reflecting on the success of Atlas Honda in Pakistan, Noriaki Abe stated, “Honda products have become an indispensable part of the daily life of many in Pakistan”.
“It will take them some time before they are able to go beyond the test marketing stage, and actually launch it. Even if they manage to launch their product in a mere six months, it will come with a hefty price tag. The estimated cost is around Rs 1 million, which would severely restrict the volume to a meagre 5,000 – 6,000 vehicles per annum. In the most optimistic scenario, it might sell 10,000 units,” asserts Muhammad Sabir Shaikh, Chief Coordinator of the Electric Two Wheelers Manufacturing Group. The BENLY-e currently retails internationally for between ¥7 lakh 37 thousand and ¥7 lakh 48 thousand — which translates to Rs 14 lakh 29 thousand and 14 lakh 44 thousand, using a rate of 1¥: Rs 1.9, respectively. “Customer purchasing power has dwindled. Even the Chinese electric motorcycles that debuted in the range of Rs 300,000 have received a lukewarm response from the customers,” elaborates Shaikh. With Honda’s entry to the market, all major two wheeler manufacturers have their own electric mobility solution. However,
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The local police on Wednesday successfully traced three individuals including a woman during a hearing of a petition in Sindh High Court (SHC) for recovery of missing persons. According to the report, the police confirmed the trace of three individuals – named Muhammad Iqbal, Saima Bibi, and Shahnawaz – all three were wanted by police in several cases. The report stated that Muhammad Iqbal is under the custody of Zaman Town police in a case, while the other two are fugitives as a case has been registered against them at Mehmoodabad police station. The court dismissed the case related to the recovery of the three missing persons. Earlier this week, the police declared the arrest of a missing person during the Sindh High Court (SHC) hearing of petitions for the recovery of 10 disappeared men. The police confirmed the arrest of a missing citizen Saddam in its progress in the case. The court dismissed the petition about recovery of Saddam. Justice Naimatullah Phulpoto directed action against the people involved in enforced disappearances. “It is the responsibility of the state to search a missing citizen,” Justice Phulpoto said. “It was said that a missing man Usman has been in Landhi Jail, a letter was written to the jail authorities, but they replied that the man was not in prison,” the investigation officer informed the court.
Merged districts in Pakistan flourish as stability returns to former conflict zone PESHAWAR
Staff RepoRt
Pakistan’s merged districts are witnessing a betterment of life and development. The tribal communities in these areas, once affected by terrorism, are now experiencing a wave of positive change. The second phase of the revival of returning tribes in the Rajgal Valley of Khyber District has been completed. During the second phase in Rajgal, from September 25, 2023, to November 10, 2023, 1,280 families in three villages have returned. After the formation of the Tehrik-e-Taliban Pakistan (TTP) in 2007, a wave of terrorism emerged in Khyber Pakhtunkhwa. Following the TTP’s rise, the country witnessed numerous attacks, bombings, and the tragic loss of innocent lives, acknowledging responsibility for thousands of casualties. However, due to the relentless efforts and sacrifices of the Pakistani armed forces, a sustained atmosphere of peace was restored. In the war against terrorism, over 87,000 individuals sacrificed their lives.
Atlas Honda introduces first EV bike to celebrate 60 years in Pakistan BENLY-e Daniyal ahmaD
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Honda’s entry to the two wheeler market sends the signal that the electric two wheeler market is now a force to be reckoned with because of the scale that it brings.
THE SCALE OF THE GIANT To grasp the implications of Honda’s move, one must first comprehend the magnitude of Honda’s operations. For the past
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
Pakistan’s security forces timely countered these threats, also devised a robust strategy to prevent the wicked objectives of the enemy. After securing the national borders, the Pakistan Army, in collaboration with the government, initiated the provision of essential facilities and the rehabilitation of these “merged districts.” As peace was restored in these districts, the Pakistani military launched new and modern development projects for the well-being of the local population, encompassing education, health, infrastructure, and transportation. In compliance with the directives of the Pakistani government, the Frontier Works Organization (FWO) commenced the construction of infrastructure. During the construction of roads, several bridges and connecting roads were also built. Inaccessible regions were connected with the rest of the country through a vast network of 32 roads and bridges. Various packages were introduced in these districts to enhance educational and government institutions and to ignite the professional skills of the people, especially the youth. decade, from fiscal year (FY) 2014 to FY 2023, Honda has produced an average of 9 lakh 86 thousand vehicles per annum. This translates to a staggering market share of over 80% in two of those years, peaking at 90% in FY 2015. Honda has consistently dominated the market with more than 60% share every year, and currently holds 89% in FY 2024, according to the statistics provided by the Pakistan Automotive Manufacturers Association. What does this entail? Trouble, for starters. It is improbable that Honda will not seek to replicate its success from the twowheeler market into the electric vehicle market. Its existing supplier network, courtesy of its near 1 million annual sales volume, will give it an unparalleled advantage in terms of localising as many of the parts as possible to reduce the costs of its new electric offering. The parts that it cannot localise will benefit from the duty breaks available for electric vehicles in the prevailing Auto Industry Development and Export Policy (2021-26). The policy itself is also what Sheikh believes to be the catalyst for Honda’s announcement of the BENLY-e in its current state. However, Sheikh also contends that Honda’s decision will have a positive spillover effect for their competitors, “Chinese manufacturers are set to benefit and be emboldened because customers will now inevitably believe that not only is electric the future, but that more electric two-wheelers will be coming to the market”.