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MEETING YIELDS AS PRESIDENT ALVI, CEC FIX FEB 8 FOR POLLS In partnership with

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Friday, 3 November, 2023 I 18 Rabi us Sani, 1445

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DEVELOPMENT COMES DURING MEETING BETWEEN CEC, PRESIDENT ALVI HELD ON SC INSTRUCTIONS

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SC GIVEN ELECTORAL WATCHDOG UNTIL FRIDAY TO INFORM IT OF DATE AFTER CONSULTING PRESIDENT

PTI, PML-N, PPP to partake in polls ISLAMABAD

STAFF REPORT

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ISLAMABAD SALEEM JADOON

RESIDENT Dr Arif Alvi and Chief Election Commissioner Sikandar Sultan Raja on Thursday unanimously agreed to hold general elections in the country on February 8, 2024, during a meeting held at Aiwan-e-Sadr following instructions of the Supreme Court of Pakistan.

The meeting comes hours after the Supreme Court (SC) gave the electoral watchdog until Friday (tomorrow) to inform it of the date after consulting the president regarding the matter.

Earlier in the day, the Supreme Court (SC) directed the Election Commission of Pakistan (ECP) to consult the President of Pakistan regarding a final date for holding general election in the country.

Led by Chief Justice Qazi Faez Isa, a three-member benching comprising Justice Aminuddin Khan and Justice Athar Minallah heard the pleas seeking

elections within 90 days of the dissolution of the assemblies.

The Supreme Court Bar, the PTI and other petitioners in the case pleaded that the general elections in the country should be held within 90 days of the dissolution of the assembly by the Constitution. The delegation comprises Chief Election Commissioner Sikander Sultan Raja, and all provincial chiefs, as well as DG law.

“On today’s order of the Supreme Court of Pakistan, the Chief Election Commissioner of Pakistan, Mr Sikandar Sultan Raja, along with the Attorney General for Pakistan, Mr Mansoor Usman Awan, and four members of the Election Commission of Pakistan, came to meet President Dr Arif Alvi, at Aiwan-e-Sadr, to discuss the date for holding the forthcoming General Elections in the country,” read a statement issued by the Presidency.

It said the president heard about the progress the ECP has made in delimitation and for elections, adding that after a detailed discussion and deliberation, the

Senate extends NAB amendment ordinance for another 120 days ISLAMABAD

STAFF REPORT

The Senate on Thursday voted to extend the National Accountability (Amendment) Ordinance 2023 for an additional 120 days. The development comes on the heels of Supreme Court taking up the intra-court appeal of the federal government against its majority judgement striking down certain sections of the NAO amendment.

These amendments were introduced by former PDM government as the top court directed accountability courts to withhold judgements against public representatives as long as the apex court did not decide finally on the government’s appeal.

The resolution was presented by Caretaker Minister for Law Ahmad Irfan Aslam that was subsequently adopted by the upper house of parliament. The extension officially commenced on October 31, 2023.

The resolution states, “That the Senate resolves to extend the National Accountability (Amendment) Ordinance, 2023 (I of 2023), for further period of one hundred and twenty days with effect from 31st October, 2023 under proviso to sub-paragraph (ii) of paragraph (a) of clause (2) of Article 89 of the Constitution of the Islamic Republic of Pakistan.” The amended law, among other provisions, now allows the anti-graft watchdog to detain suspects for up to 30 days, up from the previous 14-day limit. It also grants the NAB chairman the authority to issue arrest warrants during an inquiry if the accused fails to cooperate or respond to notices. During the Senate proceedings, Senator Ali Zafar raised concerns about the legality of the accountability law, citing a previous rejection by a majority of three-member Supreme Court bench.

Rs 15.00 | Vol XIV No 124 I 8 Pages I Lahore Edition

The Pakistan Peoples Party (PPP), Pakistan Muslim League-Nawaz (PML-N) and Pakistan Tehreek-i-Insaf (PTI), the three major political parties of the country, have welcomed the Election Commission of Pakistan (ECP) announcement that elections in the country will take place on February 11, 2024, saying that they would take part in polls.

In a major development on Thursday, the ECP’s lawyer informed the Supreme Court’s (SC) three-member bench led by Chief Justice of Pakistan Qazi Faez Isa that polls will take place on February 11.

PTI Secretary General Omar Ayub Khan made it clear that that PTI would take part in the forthcoming general elections scheduled for February 8, 2024 in benefitting manner to elect PTI Chairman Imran Khan as a prime minister with thumping majority.

Reacting to the Election Commission of Pakistan’s (ECP) poll date announcement, PTI Secretary General said that PTI would contest the general

meeting unanimously agreed to hold general elections in the country on February 8, 2024.

During the meeting, CEC Raja had officially suggested February 11, 2024, as the proposed date for the upcoming general elections to the presidency.

Attorney General for Pakistan, Mansoor Awan also held meetings with the

elections with full preparation.

However, he demanded that favorable and discriminatory treatment should be put to a halt and level playing field should be provided to PTI. Omar urged that free, fair and transparent polls should be held in the country and PTI should be allowed to conduct election campaigns freely.

PTI Secretary General underlined that the current fascism should be ended.

He hoped that the people of the country would once again elect their beloved leader Imran Khan as a prime minister of the country with clear majority.

Omar Ayub urged PTI’s workers and supporters to launch their massive and effective party’s elections preparations to inflict a crushing defeat on the political rivals in the electoral battle.

The date was shared with the SC by the ECP’s lawyer during the hearing of petitions calling for timely polls across the country.

Welcoming the ECP’s announcement, PPP’s Nayyer Bukhari has said that his party has been calling for holding timely elections.

CONTINUED ON PAGE 03

president and the Election Commission of Pakistan (ECP) officials as instructed by the apex court.

During the meeting, ECP officials, in accordance with the Supreme Court’s guidance, proposed February 11 as the recommended date for conducting the general elections.

Israeli infantry pressing towards Gaza amid fierce resistance by Hamas JERUSALEM/ GAZA AGENCIES

Israeli tanks and troops pressed towards Gaza City on Thursday but met resistance from Hamas fighters using mortars and hitand-run attacks from tunnels as the Palestinian death toll from nearly four weeks of bombardment climbed above 9,000.

The Gaza Strip’s main population centre in the north has become the focus of attack for Israel, which has vowed to annihilate the Palestinian group’s command structure and has told civilians to leave.

“We are at the gates of Gaza City,” Israeli military commander Brigadier General Itzik Cohen said.

Hamas and allied Islamic Jihad fighters were emerging from tunnels to fire at tanks, then disappearing back into the network, residents said and videos from both groups showed.

“They never stopped bombing Gaza City all night, the house never stopped shaking,” said one Palestinian man, asking not to be identi-

fied by name. “But in the morning we discover the Israeli forces are still outside the city, in the outskirts and that means the resistance is heavier than they expected.”

Aware of the difficulties of fighting in an urban environment, Israeli officers’ strategy appears for now to be concentrating large forces in the northern Gaza Strip rather than launching a ground assault on the entire territory.

As international calls for a humanitarian pause in hostilities go unheeded, Palestinians are suffering shortages of food, fuel, drinking water and medicine. Sewage is leaking, some are drinking salt water and the trickle of aid permitted in by Israel is a tiny proportion of what is needed.

Over a third of Gaza’s 35 hospitals are not functioning, with many turned into impromptu refugee camps and some rescuers using donkey carts instead of ambulances.

“The situation is beyond catastrophic in the hospitals,” said the charity Medical Aid for Palestinians, describing packed corridors and many medics themselves

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bereaved and homeless.

The head of Israel’s armed forces signalled willingness on Thursday to ease its embargo on fuel for Gaza, saying that if hospitals there run out they could be resupplied under supervision.

The United Arab Emirates offered to treat 1,000 children while Turkey offered to take cancer patients. The latest war in the decadesold conflict began when Hamas fighters broke through the border on Oct. 7. Israel says they killed 1,400 people, mostly civilians, and took more than 200 hostages in the deadliest day of its 75-year history.

Israel’s ensuing bombardment of the small Palestinian enclave of 2.3 million people has killed at least 9,061 people, including 3,760 children and 2,326 women, according to Gaza health authorities.

Though Western nations and the United States in particular have traditionally supported Israel, harrowing images of bodies in the rubble and hellish conditions inside Gaza have triggered appeals for restraint and street protests around the world.

Breakthrough: Daska mosque shooting gang busted LAHORE

STAFF REPORT

The Organised Crime Unit (OCU) has made significant strides in cracking down on criminal activities in Punjab, with the recent arrests of individuals involved in supplying illegal weapons to suspected shooters responsible for the mosque shooting in Sialkot district’s Daska town last month.

The mosque shooting, which took the lives of three individuals, including Shahid Latif, a key figure associated with the banned militant group Jaish-eMohammad, sent shockwaves through the region.

Latif, who had a history of involvement in violent activities, had been in jail since his arrest in Indian Illegally Occupied Jammu and Kashmir (IIOJK) in 1993, before his release in 2010. The Indian media had previously accused him of being linked to the attack on the Pathankot Airbase in 2016.

During a press conference held after the Daska shooting by IG Punjab Police Usman Anwar, it was revealed that the mosque shooting was a well-planned terrorist act executed by an intelligence agency of a hostile neighbouring country with alleged rogue tendencies. The accused individuals, originating from Lahore, Pakpattan, and Sahiwal, had operated as a gang, conducting thorough reconnaissance of their target before carrying out the killings.

Addressing the media at OCU Headquarters Model Town today, SP OCU South Aftab Ahmad Phularwan, alongside DSP OCU Model Town Syed Hasnain Haider, disclosed that two key suspects, Sheraz Butt and Mamraiz Khan, had been arrested for their involvement in the supply of illegal weapons to suspected shooters, believed to be agents of a hostile foreign intelligence agency responsible for targeted killings in various parts of Punjab.

Sheraz Butt, who posed as a vegetable vendor, lived in Bagrian, Green Town. He, along with his brother Hasnain Butt, smuggled weapons, including machine guns, hidden within vegetable carts to their customers. Mamraiz Khan was responsible for smuggling weapons from Khyber-Pakhtunkhwa using various methods, including couriers, transport, and goods transport vehicles, with weapons stored in warehouses. The authorities made a significant recovery, seizing 42 modern rifles, including prohibited bore weapons, 58 handguns, and thousands of bullets from the accused individuals.

In a simultaneous operation, the OCU also apprehended members of a gang involved in printing fake currency worth millions of rupees.

Two members of a criminal gang involved in printing counterfeit currency worth millions of rupees were arrested. The apprehended individuals, identified as Rafaqat Ali and Sherbaz Khan, had been operating from a rented house in Harbancepura. The counterfeit currency was later transported to KhyberPakhtunkhwa for distribution in the market.

Phularwan revealed that the accused had a criminal history and had been previously charged for similar offenses. Rafaqat Ali shared that he had unknowingly rented his house to a suspect, Ali Raza, who was still at large, receiving 30,000 rupees in return for his cooperation. Sherbaz Khan disclosed that they produced the counterfeit currency using special paper, a laptop, printers, and other logistical support. Ali Raza, the at-large accomplice, was responsible for selling the fake currency in KP after sending it in parcels. DSP OCU Model Town, Hasnain Haider, emphasised the expertise of the accused persons in producing counterfeit currency, making it nearly indistinguishable from genuine currency. The only way to identify it was through the serial numbers issued by the State Bank on each bill, as the counterfeit currency bypassed other identification marks and standards. Furthermore, an ongoing investigation has linked the arrested individual, Sherbaz Khan, and the at-large Ali Raza, along with other accomplices, to a case registered in Islampura.

Police have seized printers, special paper, ink, a laptop, a cutter, and other items from their custody.

Crackdown rages on so is exodus of undocumented Afghans TORKHAM/ISLAMABAD STAFF REPORT

Amide crackdown underway to address the issue of illegal foreign nationals, the officials said that more than 165,000 undocumented Afghans have left Pakistan since Islamabad issued a deadline a month ago to leave the country or face deportation while the United Nations High Commissioner for Refugees has asked Pakistan to get registered the illegal immigrants instead of repatriation.

On the other hand, the government has established Special Control Rooms in Khyber Pakhtunkhwa (KP) and Balochistan to oversee the deportation process of undocumented Afghan individuals back to their home country. According to the KP Home Department, over 129,000 have left the province, while a total of 38,100 have crossed through Chaman in Balochistan, border officials informed.

The majority rushed to the border in the past several days as the November 1 deadline approached and police began to open up dozens

of holding centres to detain arrested Afghans.

Officials at the country’s busiest border point at Torkham in Khyber Pakhtunkhwa province worked into the early hours of Thursday morning to clear a queue of 28,000 people that stretched for seven kilometres.

“Illegal Afghans arrived at Torkham in heavy numbers because of the deadline…

People can still return voluntarily but today only 1,000 are present at the border,” Abdul Nasir Khan, deputy commissioner of the border district said.

Pakistan’s Interior Minister Sarfaraz Bugti last Thursday said that the expulsion plan for illegal foreign immigrants has been finalized. Holding centres have been setup in all provinces to keep illegal foreign nationals. Bugti said that the illegal foreign immigrants will not be kept in jails, but temporary camps have been established as holding centres for them.

UNHC expresses concerns over expulsion of illegal immigrants The United Nations High Commissioner for Refugees has asked Pakistan to ensure a

comprehensive mechanism for the registration of illegal immigrants instead of departing them.

Pakistan has set Oct 31, a deadline for people living in Pakistan illegally and various holding camps were setup by the provincial governments to keep the illegal settlers for their eventual return to their homeland.

A crackdown is underway against people living illegally in Pakistan.

Qaiser Khan Afridi, spokesperson of the UN agency said that deporting the immigrants could have serious effects which would put their lives in danger.

European Union and eight countries have also issued a joint statement on the Afghanistan condition stating a registration mechanism should be introduced for the undocumented refugees and protection of such persons should be ensured.

Similarly, the US State Department has also urged the neighbouring countries of Afghanistan to allow entry of the refugees seeking safety and Pakistan and other countries should fulfill their responsibilities for immigrants.

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LHC moved against deportation of illegal Afghans

LAHORE: Lahore High Court’s Justice Ali Baqar Najafi has directed petitioners to come up with relevant documents to challenge the government’s directive to deport illegal immigrants from Pakistan.

The Registrar’s Office objected to not being intimidated about the government’s notification under which the immigrants were asked to leave Pakistan. As the proceedings commenced, Justice Najafi asked about the relevant documents to which the petitioner’s counsel advocate Izzat Fatima argued that there is no specific notification except a public notice of the press release issued by the federal government.

However, on the direction of the court, advocate Fatima said they would come up with relevant documents by the next date of the hearing. The petitioners, Khial Noor,

Hazrat Ali, and other family members, contended that caretaker Interior Minister Sarfraz Bugti gave a month for them to leave Pakistan to avoid deportation.

The counsel argued that deporting all refugees without giving them the right to present their case or the right of asylum is a sheer violation of human rights. In her opinion, this could lead to dire consequences for Pakistan. Speaking in favor of women and children especially, she said they had escaped from Afghanistan due to the threat of persecution and had accepted Pakistan as their new home. Further, the petitioners are amongst those who grew up in Pakistan only and have no connection whatsoever with Afghanistan. They have been living in Pakistan for decades and consider it their home.

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IT’S A WRAP: SHELL PAKISTAN HAS A BUYER

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Saudi Arabia’s Wafi Energy is new owner of Shell Pakistan PROFIT

DaNiyal ahmaD & ahmaD ahmaDaNi

mere fortnight short of a precise four-month period since the initiation of its sale, Shell Pakistan (SPL) has at last found a purchaser, enabling Shell Petroleum Company (SPCo) to bid a definitive adieu to Pakistan. The conclusion to this protracted narrative has been brought about by Wafi Energy, a Saudi-based oil marketing firm.

“SPCo, a subsidiary of Shell PLC, has agreed to sell its 77.42% majority interest in SPL to Wafi Energy,” stated the company.

Wafi will also acquire 11.29% of SPL’s shares from additional shareholders as part of a tender offer.

“The sale is part of Shell’s strategy to high-grade its mobility network and was first announced on Capital Markets Day in June 2023. The sale is expected to complete

by Q4 2024, subject to regulatory approvals.

Upon completion, the Shell brand will remain in Pakistan through brand licensing agreements and customers will continue to have access to Shell’s premium fuel and lubricant portfolio. SPL remains committed to delivering safe, reliable operations,” the company added.

So, who exactly is Wafi Energy? A wholly-owned subsidiary of Asyad Holding Group, Wafi Energy is a fuel retailer in the Kingdom of Saudi Arabia. The company already enjoys a collaborative relationship with Shell, having signed a license agreement to operate mobility sites under

the Shell brand within the kingdom.

The weighted average share price of SPL over the 28 days preceding the public announcement of intention stood at Rs 155.51. This valuation pegs SPL’s market cap at Rs 33 billion at the time of the share price agreement.

“It’s commendable that we identified a foreign entity for this transaction, thus circumventing any outflow of foreign exchange and preserving our own foreign exchange reserves,” remarks Ahfaz Mustafa, CEO of Ismail Iqbal Securities.

Arif Habib Limited is the transaction advisor for the deal. Neither Arif Habib nor SPL have issued any response regarding the deal thus far. Before we delve into what lies ahead, let’s take a moment to recapitulate the entire saga up until this point.

The Shell saga Our story begins on June 14 when SPL disclosed that its parent company, SPCo, had resolved to sever its ties with Pakistan and extricate itself from the market. This publication has previously delved into the reasons behind SPCo’s decision in considerable depth.

Read more: Shell is exiting Pakistan.

What does it mean and what could the transaction look like?

In essence, Shell was undergoing a realignment of its global operations. As part of this strategic shift, it was downsizing in certain markets and withdrawing entirely from others. Pakistan, as it happened, fell into the latter category. Thus, a relationship that had its roots in 1903 and included Mohammad Rafi crafting a jingle for the

KP faces shortfall of Rs79b from November to February g

Provincial govt looks towards center to meet shortfall

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PESHAWAR

The Khyber Pakhtunkhwa government faces a significant financial challenge as it navigates a shortfall of more than Rs 79bn rupees. The amount is required to cover its expenditures from November to February. The provincial government has intensified its efforts to secure the allocation of funds from the federal government, aiming to bridge this fiscal gap.

As per the Finance Department, the government anticipates receiving a sum of 298.38 billion rupees from the federal government during November, December, January, and February as part of its distributable revenue and the ongoing fight against terrorism. In addition to this allocation, the province expects to receive Rs 27.32bn in net electricity benefits, Rs 28.33bn in provincial revenue, and Rs 42.26bn in funds for various districts. According to sources, the province has also estimated an additional income of Rs 53.70bn rupees. In total, the province expects an income of Rs 450.45bn over these four months.

BAP leaders, others from Balochistan likely to join PML-N

Scores of Balochistan Awami Party (BAP) leaders and some other distinguished Baloch leaders will likely to join the PML-N, sources said on Thursday. Some leaders of the BAP had met former speaker and PML-N leader Ayaz Sadiq in Quetta, sources said. “Balochistan leaders have put condition of the arrival of top PML-N leadership for their joining the party,” sources said. They have demanded, arrival of Nawaz Sharif, Shehbaz Sharif or Maryam Nawaz to Quetta. PML-N Balochistan’s President hosting dinner to the leaders who intending to join the PML-N, sources said. Sources said that Ayaz Sadiq trying for a telephonic conversation of Baloch leaders with PML-N supreme leader Nawaz Sharif.

Fast forward to October 30 when SPL announced it had received interest from Wafi Energy. Merely 24 hours later, on November 1, SPL declared that it had entered into a share purchase agreement.

What happens next Let’s address the proverbial elephant in the room: the pace of the transaction. The purpose of declarations of intent prior to actual share purchase agreements is to allow the acquirer to conduct necessary due diligence before placing a bid.

“The speed of the transaction is remarkable. However, given SPL’s status as a listed entity, its financial records are open to all. Moreover, Wafi operates in the same industry, so they would already have a sound understanding of the business landscape,” Mustafa elaborates in regards to Wafi having the time to conduct the necessary due diligence for SPL. Now, onto what happens next.

The fact that neither the seller nor the buyer are Pakistani does not exempt them from Pakistani law. The transaction involves a Pakistani asset, and therefore, Pakistani laws will apply. So, which laws will govern the transaction moving forward? The Competition (Merger Control) Regulations (2016), and The Listed Companies (Substantial Acquisition of Shares) Regulations (2017), framed under the Securities Act (2015 to be precise.

A pre-merger clearance must be obtained prior to the consummation of a merger. These are typically processed within a stipulated timeframe by the Competition Commission of Pakistan (CCP). This

Fund may raise concerns about fiscal strategy amid a shortfall in development spending PROFIT

News Desk

The government is entering discussions with the International Monetary Fund (IMF) as concerns arise over the country’s fiscal situation. The IMF’s mission will evaluate the government’s fiscal health, particularly in light of the first quarter of the current fiscal year, where debt servicing outstripped the federal government’s net revenue receipts.

Despite reducing spending on development projects and curbing subsidies, the government is determined to meet its budget deficit targets, which include converting the primary deficit

into a surplus during the first quarter of this fiscal year 2023-24.

However, concerns might be raised regarding the sustainability of this fiscal strategy due to shortfall in development spending, amounting to just Rs40 billion compared to the planned Rs950 billion, and limiting subsidies to just Rs2.5 billion from allocated Rs1,002 billion. Officials from the Ministry of Finance anticipate a decline in policy rates in the coming months. As a result, they plan to finance the budget deficit over longer periods instead of relying on short-term treasury bills and domestic bonds.

The objective is to extend the average time to maturity to reduce the overall debt servicing costs for the remainder of the

fiscal year, while keeping debt servicing expenses within the allocated range of Rs7.3 to Rs7.5 trillion for the year.

During the first quarter of the current fiscal year, debt servicing amounted to Rs1.4 trillion, with the policy rate remaining at 22%. The State Bank of Pakistan (SBP) recently exceeded its target by raising Rs1,148 billion, surpassing the Rs975 billion goal by Rs173 billion.

As the government grapples with the challenge of meeting its increasing revenue and expenditure demands for the remaining months of the fiscal year, questions have arisen regarding the duration of delayed subsidy payments, the constrained development budgets, and the

SECP forms committee to ensure transparency in shareholder meetings g

ISLAMABAD

staff RepoRt

company, drew to a close.

Shell’s first — and to date, only — local bidder(s) emerged in the unlikely pairing of Pakistan Refinery and Airlink. The duo submitted a bid for the company on July 17, and this publication once again documented the rationale behind such disparate sectors converging. Read more: Pakistan Refinery Limited, and Airlink make joint play for Shell The news initially struck many as peculiar due to the unusual pairing. However, the nature of the two companies and their subsequent rejection by Shell provided a glimpse into what the final transaction might entail. Among the various financing options proposed by the two companies was the prospect of settling the entire transaction overseas, given that Airlink had subsidiaries abroad. This marked the first indication that an overseas settlement might be a more pragmatic approach to executing the deal, considering the arduous task of remitting money to SPCo amidst Pakistan’s perennial balance of payments crises.

The subsequent bid for the company arrived on October 16 from a British oil energy conglomerate: Prax. The bid was tabled on a Monday, following an entire weekend of speculation that Saudi Arabia’s Aramco might be interested in bidding for the company. Once again, this publication covered the details of both events.

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

It was in the wake of these developments that a consensus emerged: a foreign party would likely be SPL’s buyer.

Govt faces fiscal challenges as IMF review begins

aziz buNeRi

Representatives from all key regulators to be part of committee ISLAMABAD

Ghulam abbas

To ensure transparency and accountability in corporate practices, the Securities and Exchange Commission of Pakistan (SECP) has formed a specialized committee comprising experts from various sectors. The primary objective of this committee is to thoroughly review the conduct of shareholder meetings by companies listed on the Pakistan Stock Exchange (PSX) and related matters.

As per details, the formation of this committee marks a pivotal step by SECP to identify areas within shareholder meetings that require reform. One of the core focuses of the committee will be to enhance transparency in the conduct of these meetings and ensure that concerns, especially those raised by minority shareholders, are adequately addressed.

The committee’s responsibilities include a comprehensive review of the existing regulatory requirements concerning shareholder meetings, encompassing aspects such as the election of directors and the utilization of proxies. By identifying areas of concern and suggesting reforms, the committee aims to introduce improvements that promote fairness and openness in corporate decision-making processes.

Furthermore, the committee has been entrusted with the crucial task of proposing an effective monitoring mechanism for meeting proceedings. This includes exploring ways to enhance the efficiency of recording meeting minutes, a critical aspect in ensuring accurate documentation of discussions and decisions made during these gatherings. Additionally, the committee will assess the role of technology in streamlining and enhancing the overall efficiency of shareholder meetings.

Inflation rate drops to 10-month low of 26.9% in October g

Friday, 3 november, 2023 | LAHORe

Inflation rate declined primarily due to drop in food inflation to a 16-month low of 26.9%, compared to previous month’s 31.4% PROFIT

News Desk

The Pakistan Bureau of Statistics (PBS) reported that the Consumer Price Index (CPI) for October decelerated to 26.9%, a ten-month low since December 2022, which strengthened the central bank’s stance during talks with the International Monetary Fund (IMF) against potential demands of raising interest rates.

The inflation rate declined primarily due to a drop in food inflation to a 16month low of 26.9%, compared to the previous month’s 31.4%. The government cut the fuel prices last month, which also helped the pace of inflation to slow down in rural and urban centers while the deceleration was witnessed across food and non-food categories.

The core inflation, which is calculated after excluding the volatile energy and food prices, also slowed down in October

to 18.5% in urban areas and 26.7% in rural areas — far above the central bank’s interest rate.

Key food items such as wheat flour, spices, tea, and rice have all seen substantial price hikes over the past several months. Wheat flour prices increased by up to 64%, while spices and tea prices surged by 85% and 55%, respectively. Rice, another essential food item, saw prices increase by almost twothirds. As per PBS data, on a month-on-month basis, onions price increased by 38.7%, fresh vegetables 17.7%, fresh fruits 6.5%, eggs 6%, potatoes 3.7%, fish 3%, condiments and spices 2.87%, beans 1.5%, and nimco 1.4% over the previous month.

However, sugar price got reduced by 10.2%, gram pulse by 3.7%, tomatoes 3.1%, mustard oil by 2.3%, moong pulse by 2.1%, gur by 1.9%, wheat flour by 1.9%, fresh milk, tea, and wheat price

reduced by 1.7% each. Similarly, vegetable ghee, besan, and masoor pulse prices are down by 1.6% each. Cooking oil prices were also reduced by 1.5% over the previous month.

Motor fuel prices were also reduced by 4%, transport services by 1.6%, and construction input items prices down by a percent over the previous month.

Year-on-year comparisons revealed substantial price increases for condiments and spices, sugar, gur, wheat flour, rice, beans, and tea. In contrast, tomato prices decreased significantly, along with onions and fresh vegetables.

Prices of condiments and spices increased 85%, sugar 70%, gur 65, wheat flour 63%, rice 62%, beans 57%, tea 55%, beverages 46%, wheat products 43%, dry fruits 42%, dessert preparation 42%, potatoes 41%, mash pulse 40%, wheat 38%, and milk powder were costlier by 37% over the last year.

However, tomato prices reduced 46%, onions 17%, fresh vegetables 11%, and gram pulse by 3.4%. Likewise, among the non-food items, on a yearly basis, textbooks were costlier by 95%, gas charges 63%, electricity charges 51%, washing soap/detergents/matchbox 48%, stationery 47%, communication apparatus 40%, household equipment 37%, marriage hall charges 37%, drugs and medicines 37%, newspapers 34%, personal effects 33%, accommodation services 32%, motor fuel 31%, motor vehicle accessories 28%, and solid fuel cost increased by 27%.

JULY-OCTOBER PERIOD Data for the July-October period of the current fiscal year revealed that the average inflation rate stood at 28.5%, well above the official target of 21% for the year. In rural areas, the average inflation rate was even higher, at 31.2%, compared to 26.6% in urban areas.

process also encompasses two review phases.

“A Phase I review must be completed within 30 days,” states Salman Ijaz, Partner at KhanIjaz. “If the CCP determines that it needs to delve deeper and wishes to advance the application into a Phase II review, it must notify the parties within the same 30day window,” he further clarifies. “Phase II reviews are exceedingly rare,” he notes. “A Phase II review grants the CCP an additional 90 days to scrutinise the application,” he adds.

“If they fail to reach a decision within those 90 days, a no objection is deemed to have been granted,” explains Ijaz. “While clearance must be obtained prior to the consummation of a merger, the CCP has also considered condonation applications in instances where parties have proceeded with transactions without adhering to the Competition Act and Merger Control regulations. However, this is certainly not best practice and should be avoided,” Ijaz cautions. “The final transfer of securities is set to occur 76 days post-public announcement of the offer,” Ijaz elaborates regarding The Listed Companies (Substantial Acquisition of Shares) Regulations 2017. In terms of other intriguing tidbits, no court approval will be required for this matter. There’s no need for court approval because this is transpiring pursuant to a share purchase agreement, and because it is not occurring pursuant to a scheme of arrangement or merger.

As for potential major changes to Shell’s management structure in the near future, it seems improbable. Changes to the board typically occur after share transfers have been completed. The current share purchase agreement does not imply that shares have already been transferred; it simply signifies an agreement on terms for future share transfers. provinces’ ability to generate revenue surpluses, especially given statistical discrepancies associated with Punjab.

The IMF may recommend measures to reduce expenditures or increase tax revenues to meet the desired budget deficit targets for the fiscal year.

The current fiscal situation indicates a lower deficit at 0.9 percent compared to the previous year and a primary surplus of 0.4 percent.

The figures for meeting spending on income support, amounting to Rs87.5 billion, are also expected to have been achieved. While the State Bank of Pakistan has not yet released details about net international reserves, net domestic assets, and SBP’s stock of net foreign currency swaps, assurances suggest that the numbers appear favorable.

There has been no new borrowing by the government from the SBP, and government guarantees remain within the agreed limits. Additionally, energy benchmarks are expected to align with the agreed standards. The IMF’s review will also assess the quality of Pakistan’s adjustments in achieving the first-quarter targets, influencing how the fiscal year 2024 targets will be met.

FBR nominates five focal persons to assist ECP during scrutiny of nomination papers ISLAMABAD

staff RepoRt

Federal Board of Revenue has nominated five focal persons to assist the Election Commission of Pakistan (ECP) during the scrutiny of nomination papers. According to FBR, In pursuance of Election Commission of Pakistan, Islamabad’s D.O. letter No.F.2(1)/2021-IT dated 28-09-2023, FBR are hereby nominated as focal persons to assist the Election Commission of Pakistan (ECP) during the scrutiny of nomination papers.

Officers namely Chief (Revenue Operations) Arshad Nawaz Chheena, Secretary (Revenue Budget) Bilal Zameer, Second Secretary (IROperations) Sadaf Ihsan, Second Secretary (IR-Jurisdiction) Suhail Abbas and Second Secretary (IR-Litigation) Alishpa Asif will be focal persons in Board to assist ECP during the scrutiny of nomination papers. All heads of field formations are directed to nominate a team of two officers (one must be ADC (HQs), headed by a Commissioner-IR as focal person with respect to their respective formations immediately to keep liaison with Chief (Revenue Operations), FBR (HQ), Islamabad regarding subject exercise.

PKR records ninth consecutive fall against USD in interbank market PROFIT

News Desk

The Pakistani rupee faced a persistent decline against the US dollar, marking its ninth consecutive session of losses with a 0.28% depreciation in the inter-bank market closing on Thursday. According to data released by the State Bank of Pakistan (SBP), the rupee settled at 283.43, showing a decline of Re0.78. Just a day earlier, the rupee had experienced a 0.42% depreciation, settling at 282.65 against the US dollar. In addition to its struggle in the interbank market, the Pakistani rupee also weakened further against the US dollar in the open market.

Currency dealers reported that the rupee was quoted at 284.5 for selling and 281.5 for buying purposes. This was a notable shift from the previous day when it closed at 283.5 for selling and 280.5 for buying, according to data provided by the Exchange Companies Association of Pakistan (ECAP).

HEC LAUNCHES 3RD PHASE OF 4,500 SCHOLARSHIPS FOR AFGHAN STUDENTS Friday, 3 november, 2023 | LAHORe

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ISLAMABAD

staff RepoRt

Caretaker Minister for Federal Education and Professional Training Madad Ali Sindhi said on Thursday that the Higher Education Commission (HEC) has launched the 3rd phase of Allama Muhammad Iqbal Scholarships Programme for Afghan nationals.

He said under this new phase, 4,500 scholarships will be awarded to Afghan students over a period of three years to study in top-ranked Pakistani universities.

The minister was addressing as chief guest at the graduation ceremony for 281 Afghan students who have completed their studies under Phase-II of the Programme at HEC Secretariat. The students have graduated from 25 universities across

Pakistan and received their Bachelor’s and Master’s degrees in various disciplines including Medicine, Engineering, Agriculture, Management and Computer Science. As many as 6000 Afghan students have been awarded scholarships so far during the first two phases of the Scholarship Project.

Madad Ali Sindhi emphasized that this moment is the start of a new chapter in their lives. He asked them to embrace an increased sense of responsibility upon their return to Afghanistan. He urged them to identify the challenges faced by Afghanistan and utilize their intellectual capabilities to seek solutions.

He emphasized the vital need for capacity building of Afghan students and faculty. He also acknowledged the crucial role of HEC in the provision of higher

education opportunities for Afghan students via scholarships in Pakistan.

In his welcome address, Chairman HEC Dr. Mukhtar Ahmed congratulated the students on their achievements, commending them for their hard work and dedication. He specifically appreciated the Afghan students who secured first positions in their respective degree programmes and acknowledged all the students for standing strong against numerous challenges as well.

Recognizing the close ties between Pakistan and Afghanistan as neighbouring countries, he emphasized the responsibility Pakistan bears in supporting and aiding Afghanistan, referring to the two nations as brothers. He urged the students, whom he described as smart and hardworking, to see themselves as Pakistani ambassadors and catalysts for their home country’s

development and prosperity.

The chairman also highlighted the importance of networking in career development, and encouraged the students to harness their potential, reminding them that Pakistan is their second home. He underlined that Afghanistan deserves to flourish and become a developed nation, and the students present play a significant role in this transformation. He applauded the Vice Chancellors for fostering an environment that nurtures bright minds, ready to contribute effectively to their nation upon their return.

Speaking on the occasion, Special Representative on Afghanistan, Ministry of Foreign Affairs, Asif Durrani reflected on the significant impact of the past, where many Afghan alumni who pursued higher education opportunities in Pakistan are now

Meeting yields as President Alvi, CEC fix Feb 8 for polls CONTINUED FROM PAGE 01

Earlier, a delegation of the Election Commission of Pakistan (ECP) reached the President House to hold consultations with President Alvi regarding the final date for polls.

The meeting came hours after the Supreme Court gave the electoral watchdog until tomorrow to inform it of the date after consulting with the president regarding the matter.

The delegation comprised Chief Election Commissioner Sikander Sultan Raja, and all provincial chiefs, as well as DG law.

Separately, the electoral watchdog also held an emergency meeting in which it discussed the change in circumstances following the apex court’s instructions.

According to sources, the ECP huddle discussed the upcoming meeting with the president and the date for polls in the country. The lawyer representing

the electoral body in the apex court was also consulted on the stance the ECP will take in court.

Participants of the meeting included the CEC, secretary ECP, the legal team and others. ‘General elections can be held on February 11’ Earlier, the Election Commission of Pakistan informed the Supreme Court on Thursday that the general elections can be held in the country on February 11, 2024. The ECP’s reply comes after Chief Justice of Pakistan Justice Qazi Faez Isa had hinted at wrapping up the hearing of a set of petitions seeking holding of elections in the country within 90 days after the dissolution of the national and provincial assemblies.

The Supreme Court resumed the hearing on Thursday with a three-judge bench comprising the CJP, Justice Aminud-Din Khan and Justice Athar Minallah.

The petitions were filed by the Supreme Court Bar Association (SCBA), the PTI,

Munir Ahmad and Ibadur Rehman.

During the last hearing, CJP Isa observed that it was “not possible” to meet the 90-day deadline for holding elections. The CJP in his written order stated that the petitioners were contending that the census was notified as an excuse to delay the elections.

“The petitioners said that holding the election in 90 days is a constitutional requirement. According to the petitioners, elections are not possible within 90 days after the delimitation of constituencies and the census,” said the court.

At the outset of the hearing on Thursday, Pakistan Peoples Party (PPP) lawyer Farooq Naek informed the apex court that his party had submitted the request to become a party in the case.

After this, PTI’s lawyer Barrister Ali Zafar launched his arguments by saying that the party has limited its petition to

PTI, PML-N, PPP to partake in polls CONTINUED FROM PAGE 01

“Unelected individual or cabinet do not have right to rule the country… the elections should have been held within 90 days as per the Constitution,” he said.

Bukhari said the ECP is answerable to the people and the Supreme Court for not holding elections within 90 days of the dissolution of the assemblies.

Responding to a question, the PPP leader said the caretaker government’s conduct will establish whether all political parties are given a level-playing field. PML-N senior leader Ayaz Sadiq welcomed the announcement saying that it’s a positive development that the process to hold elections has commenced.

However, he said fixing date polls is the mandate of the ECP. PML-N leader Irfan Siddiqui said

that the ECP announcement is a positive development as it will ensure stability in the country. “I welcome this development even more because the announcement came from Supreme Court which has increased its sanctity,” he remarked.

He said it would be difficult for the ECP to backtrack on this date since the poll date was shared with the country’s top court. “We believe that elections will take on time,” he added.

MQM-P‘s Amin Ul Haque said that welcomed the ECP’s announcement to hold elections on February 11.

However, he added that to take the country forward democratic tradition must continue and for that free and fair elections must be held. “MQM-P demands that the failure of RTS system in 2018 and release of elections results after 72 hours should be avoided in next

elections and all parties should get a level playing field,” said Haque.

PTI lawyer Barrister Ali Zafar termed today’s proceedings at the apex court as “historic hearing” as an ambiguity regarding the polls ended with it. “Someone said the polls will be staged while someone said polls will not be staged. It was a worrisome situation,” the Senator said while talking to media after the SC hearing Zafar said that the SC made it clear that the elections were supposed to be staged within 90 days of the dissolution of assemblies.

He then called on the ECP to release an election schedule as per the Constitution after consultation with President Arif Alvi as directed by the court. The good news of elections has been received after a long time, he added.

“The Supreme Court has given clear

only seeking timely elections. “Elections must be held within 90 days after the dissolution of assemblies as per the Constitution,” he stressed.

At this, CJP Isa said that the plea seeking polls within a 90-day period has then become ineffective. “The court was told that it was impossible to hold polls within 90 days in the previous hearing,” he remarked.

Ali Zafar then said that PTI only wants elections, adding there won’t be any parliament and law if elections are not conducted. “Giving a date and schedule of elections are two different things. President Dr Arif Alvi had written a letter to hold consultations with the ECP,” he remarked.

The CJP observed that the president had written in his letter that the court should look into the matter of elections.

“Is the president saying that court should take notice of the issue pertaining to elections?” he questioned. orders that if anyone made a violation then they will be responsible for it,” Zafar stressed.

He said that the apex court clearly stated that the poll date would not be changed once announced.

Moving on to the date given by the top electoral body, Zafar said that the ECP has given February 11 as the date of the poll, though the elections should have been staged within the 90-day period “An illegal move was made by violating the Constitution. We hope that our issues will be resolved and if not, the court is there,” he said, adding that Article 6 can be applied to those who don’t abide by the SC’s verdict.

He said that they are trying the PTI chairman gets the chance to contest in elections, he added.

Meanwhile, Awami National Party (ANP) leader Zahid Khan said the ECP was not sincere in holding elections.

He questioned why the ECP did not fix January 28 as the election date and announce the election schedule.

Israeli infantry pressing towards Gaza amid fierce resistance by Hamas CONTINUED FROM PAGE 01

Residents reported mortar fire around Gaza City and said Israeli tanks and bulldozers were sometimes driving over rubble and knocking down structures rather than using regular roads.

DESTRUCTION ACROSS GAZA People walk along a street as a plume of smoke rises in the background during an Israeli strike on the Bureij refugee camp in the central Gaza Strip on November 2, 2023. PHOTO: AFP People walk along a street as a plume of smoke rises in the background during an Israeli strike on the Bureij refugee camp in the central Gaza Strip on November 2, 2023. PHOTO: AFP Though Israel has told Gazans to go south, that part of the territory was not spared either. Three Palestinians died in tank shelling near the town of Khan Younis and an air strike killed five outside a UN school in Beach refugee

camp, Gaza health officials said.

In central Gaza, an air strike destroyed clusters of houses in the Bureij refugee camp, residents and Gaza officials said, with 15 bodies pulled from the rubble. “A massacre, a massacre,” people cried as they gathered corpses in blankets. Brigadier General Iddo Mizrahi, chief of Israel’s military engineers, said troops were in a first stage of opening access routes in Gaza but were encountering mines and boobytraps. “Hamas has learned and prepared itself well.”

After a total blockade of Gaza for more than three weeks, foreign passportholders and some wounded were allowed out. Palestinian border official Wael Abu Mehsen said 400 foreign citizens would leave for Egypt via the Rafah crossing on Thursday, after some 320 on Wednesday.

Dozens of critically injured Palestinians were to cross too. Israel asked foreign countries to send hospital

ships for them.

“I want to pass. We are not animals,” said Ghada el-Saka, an Egyptian at Rafah waiting to return home after visiting relatives. “We’ve seen death with our own eyes,” she added, describing a strike near her siblings’ house that had made her and her daughter live on the street.

Israel’s latest strikes have included the heavily populated area of Jabalia, set up as a refugee camp in 1948.

Gaza’s Hamas-run media office said at least 195 Palestinians were killed in the two hits on Tuesday and Wednesday, with 120 missing and at least 777 people hurt. Israel, which accuses Hamas of hiding behind civilians, said it killed two Hamas commanders in Jabalia.

“We will hunt them down through night and day, in their cities and in their beds,” Israeli war cabinet minister Benny Gantz said, warning of a long and complex fight. With Arab nations vocal in their outrage at Israel’s actions, the UN

High Commissioner for Human Rights said Israel’s “disproportionate attacks” may constitute war crimes.

Israel says it has lost 18 soldiers and killed dozens of fighters since ground operations were expanded on Friday.

Violence has also spread to the occupied West Bank, with Israeli raids touching off clashes with gunmen and people throwing stones.

Palestinian medics said three teenagers and a 25-year-old were killed there in clashes on Thursday. Israel’s army had no comment. Separately, the military and medics said Palestinian gunmen killed an Israeli motorist in the West Bank. Gaza patients at risk in ‘indescribable’ situation – WHO The head of the World Health Organization (WHO) said on Thursday the forced evacuation of hospitals in the Gaza Strip would put the lives of hundreds of patients at risk as he called the situation on the ground “indescribable”.

Govt wants your telco to finance next smartphone if you can’t afford it. But how?

CONTINUED FROM BACK PAGE

A notable initiative in this direction has already been undertaken by Jazz, Pakistan’s leading telecom company, with its instalment-based handset financing program, ‘Jazz Digit 4G,’ in collaboration with KistPay. Upon policy approval, companies like Jazz will have the opportunity to directly offer smartphones to customers through instalment plans, thereby expanding the benefits of mobile broadband, especially among low-income segments in Pakistan.

Despite the opposition from certain quarters, sources within the ministry have indicated that the MoITT is likely to proceed with the policy implementation, considering its potential to accelerate digitization and align with the GSMA’s vision of ‘smartphone for all.’ The policy’s imminent notification

reflects Pakistan’s commitment to bridging the digital divide and ensuring that the advantages of technology are accessible to all citizens.

The Ministry thinks that by doing so, the government will not only assemble new phones in Pakistan but FBR will be able to collect more taxes.

Meanwhile, the caretaker Minister for IT&T on Thursday also informed a delegation from Rwanda, led by Senate President Dr. Kalinda Francois about the upcoming smartphone instalment program.

The minister added that discussions were underway to address the necessary prerequisites for the potential export of mobile phones to Rwanda.

03

actively contributing to various sectors in Afghanistan.

He extended his congratulations to the Afghan graduates and expressed hope that their return to Afghanistan would enable them to serve their nation effectively and take on diverse responsibilities. Asif Durrani stressed that the knowledge and expertise these individuals acquired will not only enlighten their families but will also foster informed decision-making in their professional and personal lives. He emphasized the importance of an educated society in facilitating societal development.

The Special Representative concluded by emphasising the symbiotic relationship between Pakistan and Afghanistan, underscoring the cherished bond that exists between the two countries and the positive impact it will have on their shared future.

Pakistan’s trade deficit shrinks by 34% in July-October period PFOFIT

News Desk

Pakistan has witnessed a 34.70 percent reduction in trade deficit during the initial four months (JulyOctober) of the fiscal year 2023-24, standing at $7.416 billion, down from the $11.356 billion recorded during the same period in the previous fiscal year 2022-23. According to data released by the Pakistan Bureau of Statistics (PBS), Pakistan’s exports saw a minimal increase of 0.66 percent, totaling $9.617 billion during the July-October 202324, compared to the $9.554 billion figure from the previous fiscal year’s corresponding period.

Meanwhile, imports experienced a significant decline of 18.54 percent, with the value dropping to $17.033 billion, down from $20.910 billion in the same period last fiscal year. On a monthly basis, there was a 38.27 percent expansion in the trade deficit for October 2023, with the figure reaching $2.099 billion, compared to $1.518 billion in September 2023. In the same period, exports increased by 9.33 percent, totaling $2.707 billion, an improvement from the $2.476 billion recorded in September 2023. Imports in October 2023 increased by 20.33 percent, amounting to $4.806 billion, compared to $3.994 billion in September 2023. Looking at the year-onyear comparison for October 2023, the trade deficit narrowed by 4.46 percent, standing at $2.099 billion compared to $2.197 billion in the same month of the previous fiscal year. Imports showed a year-on-year increase of 4.91 percent, remaining at $4.806 billion in October 2023, compared to $4.581 billion in October 2022. Exports experienced a substantial year-on-year growth of 13.55 percent, reaching $2.707 billion in October 2023, compared to $2.384 billion in October 2022.

Pak-Qatar Navies bilateral exercise MUHARIB-ALBAHR concludes KARACHI

staff RepoRt

The 6th edition of bilateral exercise MUHARIB-ALBAHR between Pakistan Navy Special Service Group (SSG(N)) and Qatari Naval Special Forces (QNSF) was conducted at Karachi. The exercise was conducted annually alternatively at Pakistan and Qatar. The two weeks long exercise comprised of various operations such as Frogman Ops, coordinated Maritime Interdiction Operations, Ship Visit- Board-Search & Seizure (SVBSS) Procedures, Sniper Weapon Firing, Day & Night Counter Terrorism Training, Close Quarter Combat (CQC) at Ship in a Box Mockup and Fast Rope Insertion Extraction Techniques (FRIETS). The exercise was aimed at strengthening military relationship and improving coordination and interoperability between Pakistan Navy Special Service Group (SSG (N) and Qatari Naval Special Forces (QNSF). The exercise proved highly beneficial to enhance professional acumen of SOFs of both navies with testimony to long lasting and historic brotherly relations between the two countries.

Shah Mehmood Qureshi shifted to hospital as health worsens

ISLAMABAD:- Pakistan Tehreek-e-Insaf (PTI) and former foreign minister Shah Mehmood Qureshi was shifted to hospital after his health deteriorated in Adiala jail on Thursday. According to details, Qureshi’s condition worsened in jail, after which the jail administration sought permission from Judge Abul Hasnat Zulqarnain to transfer him to PIMS. The jail administration appealed to Judge Abul Hasnat Zulqarnain that medical tests have to be conducted of Shah Mahmood and he should be allowed to move to the Pakistan Institute of Medical Sciences (PIMS) hospital following the advice of jail doctor. Judge Abul Hasnat accepted the request and allowed the former foreign minister to be shifted to the hospital. It is pertinent to note that Shah Mehmood Qureshi is imprisoned in Rawalpindi’s Adiala Jail after his arrest in cipher case.

04 COMMENT

Why the Israelis dither

At last

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The announcement of the election does not mean the delay can be ignored

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CH was not only February 11, which not only goes beyond the 90-day constitutional limit, but even beyond the ECP’s own statement that it hold polls in the last week of January, after the completion of the fresh delimitations that served as the pretext for the delay.

However, it must be welcome that the date has to gone to the March, April and even beyond, that was being predicted by some. It cannot be a good sign that the ECP only gave the date when faced with a case in the Supreme Court, but the ECP has got a record of disobeying Supreme Court orders, as it did for the Islamabad local body polls and the Punjab and KP Assembly elections. It should be noted that the date revealed will mean that the federal government will have remained in office for six months, or about twice the Constitutional limit, while the Punjab and KP caretakers will be going well beyond a year in office. That there has to be an accounting of this gross and blatant violation of the Constitution goes without saying, because it means that what should have been unthinkable has happened, and can happen again.

Now is the time for the ECP, which has revealed this date in such dramatic fashion, must begin preparations for the poll. First it must deal with the delimitations in a way that will make the polls credible. The best way of countering the inevitable cries of gerrymandering will be to ensure that it makes the process as transparent as possible, which includes taking all the steps necessary to remove the objections of politicians which will be made after the elections. Another problem for the ECP is ensuring a level playing field for all parties, including the PTI. It has to make sure that the results of the poll are accepted by at least the public if not the parties. For that the judiciary will have to display an evenhandedness between parties that does not seem to prevail at the moment. This becomes all the more important with the PTI Chairman in jail, on trial in the cipher case, and likely to face trial over the May 8 incidents. sure security during the campaign, as well as during the polling itself. There does More generally, the ECP will have to ensure that the contestants enjoy a modicum of security. The security situation has not yet deteriorated, but experience of past elections indicates that this must remain a primary consideration.

Israel’s Test?

At Penpoint M A NIAZI

HE question that will ever remain over the present Israel-Hamas conflict is what was keeping the Israeli Defence Forces from going into the Gaza Strip. The Israeli answer, that it is awaiting the results of the US attempts at a ceasefire is not credible, for it would represent the first time Israel has paid attention to any factor short of its own desires or needs, in determining its course of action. The suspicion arises that the IDF is scared. The initial engagement, followed by withdrawal, Indicates as much.

The IDF faces the problem of all conscript forces, that the troops are not of high quality. In the sort of fighting that invading infantry would face in Gaza, conscript troops would probably not do too well. The bulk of the troops would probably be reservists recalled to duty, but their primary purpose would probably be to survive, not to overcome.

The IDF might hark back to the Ramadan War of 1973, when Israeli armoured formations composed primarily of reservists defeated Egyptian armoured formations which broke out into the occupied Sinai.

However, that should take account of how bad the Egyptian armour was, as shown in the 1967 Six-Day War. More instructive is when there was more infantry-oriented fighting, around the Chinese Farm, when the Egyptians gave a good account of themselves, against reservist Israeli infantry.

In other words, the IDF cannot count on its infantry in the urban warfare that will characterise a ground invasion of Gaza. Opposing forces are not an army, so there will be gaps in training. True, just because a soldier does not know how to salute properly does not mean he cannot fire his personal weapon accurately.

Another problem for attacking IDF forces is their lack of information about the Hamas tunnel network. The USA came up against the same problem in Vietnam against the Viet Cong, and never came up with a solution. One method, to use its infantry to clear the tunnels was tough, for it meant high casualty rates. This increased domestic pressure against the war, as the returning bodybags of conscripts created a backlash.

As a matter of fact, the Israeli comparison of the October 7 Hamas attacks to 9/11 are probably not accurate. A more valid comparison would be to the 1968 Tet Offensive, when the North Vietnamese Army and the Viet Cong jointly launched an attack during the Vietnamese New Year, Tet, to exploit the fact that many South Vietnamese military personnel would be on holiday leave. Hamas used this, launching its attacks to coincide with the Yom Kippur holiday, which meant that military personnel would be on leave, and reservists would face problems in answering the inevitable call-up.

Already with about 400,000 personnel in Vietnam, the US commander, Gen William C. Westmoreland, estimated that there would be another 200,000 needed to defeat the North Vietnamese. This meant

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

Yousaf Nizami

that a million more personnel would have to be called up. Clearly, the USA had reached its limit. Though the Tet offensive did not cause the general uprising it was supposed to, it did cause the USA to enter the path of peace negotiations.

Similarly, the decisive moment for Israel will be whether it can sustain the cost of continuing the War. One of the major problems it faces is that it is not fighting another state, but a guerrilla organization. It might have realized that the peace with the PLO did not give it security. The PLO was initially committed to an end to Israel, and the Palestinian people getting their homeland, but came around to a two-state solution.

Hamas is committed to a Palestinian state, with no Zionist state. If it comes to a two-state solution, what is the Israeli guarantee that no other Palestinian group will emerge, with a similarly anti-Israeli ideology? One problem is that the Zionists will not accept that they are in the wrong, that Israel is an abomination, a perversion of the concept of the nation state. The era of a nation taking over another’s land by simply walking in, and throwing out the original inhabitants, has long been over. The last memorable example was the WASP (White Anglo-Saxon Protestant) snatching of the USA and Canada from the Native Americans.

One of Israel’ problems is that Hamas is not a state. Worse for it, the Gaza Strip is occupied territory, and by Israel. It is qualitatively different from Lebanon, where it fought the Hezbollah. Though Hezbollah was not the Lebanese state, at least the state’s borders were there to be observed. In Gaza, who is Israel supposed to subdue? Hamas? But they took power through an election Israel accepted as the occupying power. And the occupation has gone on since 1967. Only colonial occupations lasted longer.

The Gaza Strip itself was occupied for 31 years by the British, when it was part of the Mandate of Palestine, from 1917 to 1948. It was initially occupied by Egypt, which lost it in the 1967 War. It has remained under Israeli occupation since.

Does Israel wish to have the Gaza Strip vacated?

The question of where the people would go remains unanswered.

When the Ottoman Caliphate still existed, but while it was contracting, refugees would go to the capital of the Caliphate. One of the recurring problems was what to do with the refugees. Central Asians ended up in what is now Saudi Arabia; Chechens ended up in modern Jordan and also in Trebizond on

Joining the BRICS bouquet?

Editor Umar Aziz M. A. Niazi Joint Editor

Executive Editor

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Abu HurAIrAH AbbAsI

HE BRICS, aimed at fostering collaboration among Brazil, Russia, India, China, and South Africa, is currently broadening its scope. The conference in Johannesburg from August 22 to 24 extended invitations to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates to become members of BRICS. The question regarding Pakistan’s potential membership in BRICS is evidence of the significance of BRICS. The alliance has garnered significant global recognition, prompting many nations to express their aspirations to join its ranks.

The BRICS members collectively surpass the G7 in purchasing power parity, encompassing around 27 percent of the Earth’s land surface, 42 percent of the worldwide population, and 33 percent of the global GDP. All original five constituent nations of the BRICS alliance also participate in the G20. The current situation is quite intriguing.

According to the chair of the 2023 summit in South Africa, a significant number of nations, estimated to be around 36, have expressed their interest in becoming members of BRICS. These countries include Iran, Saudi Arabia, the United Arab Emirates, Argentina, Algeria, Bolivia, Indonesia, Egypt, Ethiopia, Cuba, the Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan. These nations saw BRICS as a viable substitute for the conventional Westerncentric financial industry that relies on the US Dollar. The BRICS nations are currently con-

Pakistan must disengage from being categorized as part of a certain interest group or as an alliance member when making autonomous decisions. The current paradigm no longer adheres to the dichotomy of „with or without us‰ but instead embraces the concept of inclusivity, wherein the involvement of all states characterizes the new normal.

Lahore – Ph: 042-36300938, 042-36375965

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Karachi – Ph: 021-35381208-9

The writer is a member of staff

The inflation crisis in Pakistan

The Writer works as a Researcher with an Islamabad-based policy think tank, the Institute of Strategic Studies Islamabad. He is also a Research Fellow at Hanns Siedel Foundation Pakistan.

He can be reached at abuhurrairahah@gmail.com Islamabad – Ph: 051-2204545

the Black Sea, Greeks and East Europeans in Istanbul as well as in Anatolia. However, today, the Palestinians of Gaza have nowhere to go.

That may provide them the edge that the Israelis lack. The worst the enemy can do is deprive them of life. That is not as severe a hardship for a Palestinian stuck in Gaza under Israeli occupation, which has to be brutal and humiliating so as to sustain itself, as for an Israeli reservist who might not have a perfect life, but lives a good life.

One big advantage the Israeli forces have is that they need not worry about resupply of arms and munitions, because the USA and other backers will make up any losses. Hamas has a limited supply of munitions, and even Iran, supposedly its main backer, cannot resupply it freely. Turkish President Tayyib Erdogan held a big rally in favour of the Paelstinians in Ankara last Saturday may have said outright that Israel was an occupier, but he did not mention even a baby step to help the Palestinians. Instead, he took part in the celebrations marking the centenary of the establishment of the Turkish Republic, and thus the abolition of the Caliphate.

The rights and the wrongs of the Caliphate’s abolition can be debated, but it must be noted that the Palestinians have no right to expect help from the Turkish Republic. But the Caliph was under an obligation.

Are all the agonisings in the Muslim world over the Gazans actually just a nostalgic hankering for the Caliphate? They are inspired by a feeling for fellow Muslims, and for the land of Al-Aqsa, and the Caliphate is the mechanism for their defence. But there is presently no Caliphate, and the Gazans must shift for themselves.

Editor’s mail

Another problem that hampers the potential for Pakistan’s inclusion in BRICS is its precarious economic condition, further compounded by political instability, violent extremism, and inadequate law enforcement. The member nations of the BRICS alliance will assert their position against Indian objections after they ascertain that Pakistan possesses substantial contributions to make. Undoubtedly, Pakistan occupies a vital position within the enlarged economic geography of the BRICS nations. Pakistan can be a significant hub, facilitating connectivity between South, Western, and Central Asia.

The era characterized by countries aligning themselves with ideological blocs during the Cold War has concluded. India is a member of the BRICS alliance and concurrently serves as the host country for the G20 summit in New Delhi. The USA and most European countries have implemented sanctions against Russia in response to the situation in Ukraine. However, it is noteworthy that these countries engaged in diplomatic interactions with Russian President Vladimir Putin during a meeting in New Delhi.

However, this assertion does not hold for developing nations as they heavily depend on Western economies for their sustenance. Based on historical precedent, it can be seen that emerging nations have often faced punitive measures for engaging in behaviors that are perceived as detrimental to the interests of more powerful states.

Pakistan must disengage from being categorized as part of a certain interest group or as an alliance member when making autonomous decisions. The current paradigm no longer adheres to the dichotomy of “with or without us” but instead embraces the concept of inclusivity, wherein the involvement of all states characterizes the new normal. Therefore, the necessity of the current era is evident. States left behind will ultimately experience self-directed condemnation over an extended period.

In order to facilitate this process, Pakistan must prioritize enhancing its domestic economy and deliberate the possibility of embracing east-west connectivity, synergizing with existing north-south connectivity.

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Are all the agonisings in the Muslim world over the Gazans actually just a nostalgic hankering for the Caliphate?

They are inspired by a feeling for fellow Muslims, and for the land of Al-Aqsa, and the Caliphate is the mechanism for their defence.

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

Joining BRICS would meet Indian resistance

sidering the possibility of introducing a new currency that is backed by gold. This initiative aims to provide an alternative to the dominant position of the US Dollar, which many developing countries favour.

Hence, Pakistan cannot remain detached from these developments and alternative options. Given Pakistan’s existing involvement in the One Belt One Road Initiative and the CPEC, it would be advisable for Pakistan to contemplate the prospect of joining the BRICS alliance.

The citizens of Pakistan express dissatisfaction at the absence of an invitation for their country to participate in the Johannesburg Summit and its exclusion from the BRICS Plus initiative. On August 25, the Foreign Office spokesperson addressed the inquiries by indicating that Pakistan will carefully assess the recent developments and decide on future involvement with the organization. She expressed, “Pakistan strongly advocates for the principles of multilateralism.”

Given the circumstances, it would be logical for Pakistan to consider membership in the expanded BRICS, an emerging global organization representing countries in the Global South.

Pakistan’s non-participation in the highlevel development conversation preceding the BRICS summit hosted by China was also observed last year. A total of 24 countries were in attendance. India, a member of the BRICS alliance, impeded the participation of Pakistan.

At that particular juncture, the Foreign Office articulated its aspiration for the forthcoming involvement of the organization to be grounded in the principle of “inclusivity.” This year, Pakistan was not invited to attend the summit, unlike nearly 30 other countries, primarily from the Global South, who were included. However, Pakistan was invited to a seminar before the summit, during which Senator Mushahid Hussain expressed Pakistan’s interest in joining BRICS Plus.

The strained relationship between India and Pakistan is regrettable yet comprehensible. The government of India has frequently utilized Pakistan to garner support in Hindu-majority regions by capitalizing on the perceived danger of crossborder terrorism. It might be inferred that in the event of Pakistan seeking BRICS membership, India would have likely expressed opposition.

Friday, 3 November, 2023

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THE dire consequences of this high inflation rate are severely impacting the lives of ordinary citizens. Many people are finding it increasingly challenging to afford basic necessities such as food. Additionally, this inflation is acting as a deterrent to investment and economic growth.

There are several factors contributing to the high inflation rate in Pakistan: The ongoing conflict in Ukraine has disrupted food production and led to price hikes. Recent flooding in Pakistan, causing damage to infrastructure and crops. A decline in the value of the Pakistani rupee, resulting in increased costs for imported goods and services. Escalating energy prices. To combat this inflation crisis, the Pakistani government can implement various measures, including increasing subsidies for essential items like food and fuel, implementing a tighter monetary policy to raise interest rates and reduce the money supply, and stabilising the Pakistani rupee. While these efforts can have a significant impact on the inflation rate, they may take some time to yield results. The people of Pakistan are currently grappling with a highly challenging economic situation. The rapid surge in inflation is making life difficult for many citizens, who are already struggling to make ends meet. I strongly urge the government to take all necessary steps to address this pressing issue. It is crucial for the government to provide assistance to those who are finding it difficult to meet their basic needs. I believe that it is vital for the media to raise awareness of the inflation problem in Pakistan.

By publishing letters from concerned citizens, the media can exert pressure on the government to take prompt action.

AREEBA ANWAR KARACHI

Child marriage

GLOBALLY, approximately 21% of girls find themselves married before they reach adulthood. This translates to a staggering 12 million girls under the age of 18 each year, or an alarming 22 girls tying the knot every minute. A UNICEF report from 2018 highlights that around 18% of girls in Pakistan face early marriage, even though the legal age for marriage in the country is 18 for males and 16 for females.

Tragically, the reality is that boys are marrying as early as 15 to 16, while girls are being wed at the tender ages of 12 to 14. Shockingly, 39% of Pakistani women capable of childbearing end up getting married before they turn 18. The average age for marriage in the country hovers at 18.6 years, but what’s even more disheartening is that 40% of girls reach the age of 18 with a 4-year-old child. Child marriage has cast a long shadow over Pakistan, making it home to approximately 19 million child brides, as per UNICEF statistics. Astonishingly, one in six young women in the country is married off during their childhood days. Child marriage is not limited to girls; it impacts boys as well. This practice carries grave consequences, ranging from medical and psychological issues to educational hurdles. In a country with an estimated 19 million child brides, child marriage remains a haunting spectre that has lingered for decades. It is a practice that knows no boundaries; it stands as the utmost form of abuse persisting in our society, robbing children of their innocence, aspirations, and futures and compelling them to forsake school for household responsibilities. The psychological trauma endured by these children is agonizing, as they grapple with the demands of adult responsibilities when they should be playing and learning.

Child marriage has far-reaching consequences that go beyond the individual, affecting communities and societies as a whole. It is a call to society to put an end to this grave injustice. The root causes of child marriage in the country include deeply entrenched customs and traditions, dire living conditions, prevailing gender norms, and a lack of education and awareness.

Poverty is a pivotal driver, casting a long shadow over this disturbing reality. Ending child marriage necessitates a holistic, multi-faceted strategy that encompasses not just the legal dimension but also addresses the cultural, economic, and social elements that contribute to this problem.

MARWAND RAZA QUETTA

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Learning the art of cultural diplomacy

Friday, 3 November, 2023

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Lessons for Pakistan

RAAniA SiDDiqUi

N the realm of international relations, power is often associated with military might, economic prowess, or political influence, that is, hard power.

However, there is a more subtle and persuasive form of power that is equally, if not more effective in shaping global perceptions and relations; soft power.

Soft power relies mostly on attraction and perception building rather than coercion. Cultural diplomacy is one of the branches of soft power along with political institutions and foreign policy.

The term “soft power” was first introduced by Joseph Nye in the late 1980s. He defined soft power as the ability to ge “others to want the outcome that you want” more precisely, “the ability to achieve goals through attraction rather than coercion”. Whilst, comparing soft power with hard power, Nye stated that soft power is “free” as it requires fewer resources and has limited consequences in case of failure. As a consequence, soft power is a matter of changing behaviour, and thought process through persuasion.

Cultural diplomacy is a key element of soft power.

It is an alternate route for states instead of coercion to increase their global influence and standing. It is defined as, “a course of actions, which are based on and utilize the exchange of ideas, values, traditions and other aspects of culture or identity, whether to strengthen relationships, enhance socio-cultural cooperation, promote national interests and beyond.” Cultural diplomacy, when learned and applied appropriately, holds the power to influence global public opinion. However, a state can alter the global public opinion when sources of soft power outflow organically. Some countries like Russia have heavily invested in their cultural soft power with little positive consequence.

Cultural diplomacy is a two-way street that accepts other countries’ cultures while promoting one’s own. For this purpose, many countries carry out cultural exchange programmes to show that they are not just promoting their culture but are also interested in learning and understanding the culture of other states. This also leads to increased tourism, trade and cooperation among states and positive growth of socio-cultural relations.

A few case studies to better understand the concept cultural diplomacy as a tool of soft power are;

SOUTH KOREAN CULTURE: In recent years, Korean culture has gained quite a popularity among people around the world. The global fanbase of Korean culture is known as “Hallyu” in Korean, meaning “Korean

Wave”. The Korean government has utilized this golden opportunity for strengthening its socio-economic conditions by further advertising K-POP, K-Dramas, language and cuisines. This popularity of Korean Culture among people, and their liking for it, has also increased the tourism influx in the country. The Koreans have also started scholarship programmes and fellowships to invite people to their country. And these programs are not just for educational purposes but also a way of promoting Korean culture.

JAPANESE CULTURE: The Japanese have also been working on enhancing their socio-culture and economic conditions by marketing their culture, language and cuisine to their full potential. The Japanese culture and lifestyle have been gaining quite a popularity among the so-called “Internet Generation”. This popularity is not limited to the East Asian Region but also other regions such as the Middle East and South Asia. Apart from this, Japan’s government has also initiated dialogues, cultural exchange and educational programmes. The Japanese anime and manga are also quite popular among the young generation,

THE USA: Ever since the 9/11 attack the USA has used soft power to increase their influence in the world. They carry out cultural exchange programmes in which they take in students from all across the world to promote their culture and heritage. They also provide scholarships and fellowships under such programmes as Fulbright and USAID. Apart from this, the USA also sends its musicians and singers to different parts of the world so that people can develop a taste for their music. Another instrument which the USA uses to show off its culture is Hollywood. There are many movies and teledramas in which they have shown how active the US agency has been in the world helping and aiding other states. In short, they are not just promoting their culture via

movies and seasons but also, constantly reminding the world that they are the only states on which other states rely on or can in the future.

CHINESE CULTURAL DIPLOMACY: Under the guidance of President Xi Jinping, China’s cultural diplomacy has been in full swing. They have been promoting their tourism, art literature, dramas and music through various online platforms. Similarly, their state governed media “Xinhua News Agency” has also been playing a great role in elevating the country’s image globally.

Apart from this, the Chinese Confucius Institutes have played a great role in global transmission of Chinese language and culture.

Moreover, pre-covid-19, China in collaboration with Pakistan, its all-season friend and strategic partner, held a cultural heritage exhibition themed, “Chinese Culture and Traditional Craftsmanship” in Lahore. In this exhibition all types of Chinese cultural heritage and handicraft were showcased. Another exhibition that also took place at China Cultural Centre, Pakistan was themed “Chinese Intangible Cultural Heritage”. So, all in all China has been very keen and passionate about promoting its cultural diplomacy.

TURKISH CULTURAL DIPLOMACY: Turks have left no stone unturned in projecting a positive image of their country using soft power. They have promoted a positive aspect of their countries via social media, the drama industry and diplomats. The sudden craze of Turkish language, cuisine, dramas, dressing among people shows that Turks have been successful in projecting a positive image of their country in the world. This has also resulted in boosting the tourism industry and economy of the country. They also carry out scholarship programmes inviting students from all over the world to come and study in some of their best universities. Apart from this,

Soft power and cultural diplomacy are invaluable tools in the complex landscape of international relations. It allows states to build connections, promote a positive image of their country, and foster mutual understanding without resorting to coercion. In this way the world becomes more interconnected. All the above-mentioned states have utilized the soft power for the projection of a positive image internationally through the promotion of their culture.

Turks have also promoted a positive aspect of their history via dramas such as Ertugrul and Kurlus Osman.

In the above-mentioned cases lies the lessons for Pakistan that may help to boost the projection of culture on a global level. Pakistan’s cultural power includes Sufi music, musical instruments like the rubab and the tabla, folk dances like the Khattak dance, Sindhi and Pashto songs also that have the tendency to reach millions across the globe. While talking about the folklore and Sufism in Pakistan, one cannot ignore Southern Punjab.

South Punjab is the region rich in culture, heritage, literature, traditional dances, and devotional music. This region is also home town to some of the most influential sufi saints. The places such as Hakra-Indus Civilizations, the Harappan site mound, medieval forts, palaces and walled towns are what enhance the beauty of this region.

Some of the famous cities in this region include;

MULTAN: There are various old forts and tombs and an institute of blue pottery and other traditional handicrafts in Multan. It has six Historic gates; Pak Gate, Haram Gate, Delhi Gate, Daulat Gate, Bohar Gate, Lahori Gate. in the middle of the city Multan Fort is present.

BAHAWALPUR: It is also known as “the city of palaces” situated in the south of Sutlej River. The famous sites here are; Holy city of Uch Sharif, Nur Mahal, Sadiq Garh Palace, Bahawalgar Palace Complex and Dewar fort.

Evidently, a Pakistani song ‘Pasoori’ from the platform of Coke Studio garnered international praise. The Baloch singers and musicians Kaifi Khalil and Eva B also became music sensations worldwide, with Eva B getting featured on Times Square in New York. The music and drama industry of Pakistan has the power to grasp the attention of the international masses. The media continuously project negative stories which give a bad impression of the country. The culture of Pakistan is very rich but its projection to the world is very weak.

The international community must be made aware of the diverse Pakistani culture. In the age of digitization, social media has been criminally neglected for the soft image projection by Pakistan. It must be made use of for effective and efficient projection of Pakistani culture.

Soft power and cultural diplomacy are invaluable tools in the complex landscape of international relations. It allows states to build connections, promote a positive image of their country, and foster mutual understanding without resorting to coercion. In this way the world becomes more interconnected. All the above-mentioned states have utilized the soft power for the projection of a positive image internationally through the promotion of their culture. Pakistan needs to learn that in the era of globalization it is important to maintain and promote a soft image.

Ismail Haniyeh highlights Netanyahu is an goals of resistance in Gaza albatross around

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Hamas has proposed a comprehensive vision starting with a ceasefire, opening the crossings, a prisoner exchange deal, and culminating in the establishment of a political path to the establishment of an independent Palestinian state with Al-Quds as its capital and the right to self determination PALESTINE CHRONICLE STAFF

EAD of the political bureau of the Islamic Resistance Movement Hamas, Ismail Haniyeh, vowed that the Israeli occupation army will suffer great losses in the Gaza Strip. He also revealed that Hamas has presented a comprehensive vision that begins with stopping the Israeli aggression on Gaza, opening the crossings and concluding a prisoner exchange deal. These are some excerpts from his speech. The English translation was provided directly by the Resistance News Network at their Telegram Channel:

‘DECISIVE BATTLE’: “The brutal, criminal, terrorist war against Gaza and its people continues for the 26th day. Our people and fighters face it with full valor and capability, drawing the map of the homeland with their pure blood. They bear what mountains cannot in sacrifices and steadfastness and martyrs, demonstrating patience in the face of wounds and pain.

“O people of Gaza, the noble, the sacrificing, the redeeming, the giant heroes who are engaged in this decisive battle between two axes: the axis of freedom-loving and justice-seeking people and the axis of racism and fascism. “This is a decisive battle between those who believe in human peace, tolerance, and civilized coexistence and the new Nazis, backed by colonial powers that trample all values for their interests and bloody mentality.

“On the 26th day of this heroic epic of our resistance and our people, and facing the genocidal war waged by the new Nazis, we stand in reverence and admiration to the legendary steadfastness of our people despite the enormous bloodshed, the numerous martyrs and wounded, especially from the recent bru-

tal massacres in the Jabalia, Nuseirat, Shati and Fallujah camps ..

“With this steadfastness and determination, and adherence to the homeland, our people have thwarted the enemy’s plans for a new Nakba of displacement and diaspora.

“We express our pride in this honorable resistance, which teaches the enemy new military lessons every day, built on the shoulders of faithful men with great courage. The AlQassam Brigades and resistance factions fight them on all fronts, heroically confronting their tanks and continuous bombardment.

“The enemy begins its ground war in light of a shaky decision and a divided leadership. The heroic fighters make them taste the bitterness of death, inflicting dead and wounded upon them.

“We assure the criminal zionist enemy and those who support it that their futile attempts to cover their failures by committing brutal massacres against unarmed civilians will not save them from a resounding defeat in Al-Aqsa Flood. “You were defeated on the glorious seventh of October, and now you stumble in your ground invasion that you carried out against our brave heroes and our unarmed people ..

“One of the main reasons for this war is Netanyahu, who leads a right-wing racist fascist group and thinks only of how to save himself and his family from imprisonment and accountability, even if it means destroying the entire region.

“We warned all the parties we met with before this war that the continued actions of Netanyahu and his fascist government, including their aggressive policies towards the Al-Aqsa Mosque, Islamic and Christian sanctities, settlement construction, and allowing settlers to wreak havoc, would not go unanswered.

“We warned them that there would inevitably be an explosion due to these actions, and that efforts should be made to restrain this

Head of the Political Bureau of Hamas Ismail Haniyeh.

criminal and his gang. Unfortunately, our calls were ignored, and his allies continued to support and encourage his racist policies ..”

HAMAS PROPOSAL: “Hamas has proposed a comprehensive vision starting with a ceasefire, opening the crossings, a prisoner exchange deal, and culminating in the establishment of a political path to the establishment of an independent Palestinian state with Al-Quds as its capital and the right to self determination. However, Netanyahu is stalling and misleading his public with false promises that we will not allow him to achieve ..

“We also call on countries supporting the entity to stop obstructing international will, calling for an immediate ceasefire and the opening of crossings, as recently demonstrated in the General Assembly meeting titled “United for Peace.”

“We tell them that you are choosing the wrong side of history, present, and future.

The region will never experience peace and stability until our people achieve their legitimate rights to freedom, independence, and return. Enough arrogance, hypocrisy. History has no mercy on anyone.”

HISTORIC SOLIDARITY: “We salute all the Arab and Islamic nations and the free people of the world for their historic stance in supporting the Palestinian people and the resilient Gaza.

“We also salute all supporting resistance fronts, especially in Lebanon, Iraq, Syria, and Yemen, for their advanced and declared stance. We reiterate our call for our Arab and Islamic peoples and the free people of the world to continue their roaring movement in the streets around the world, which has bewildered all observers and showcased the position of Palestine and its just cause in the hearts of millions. “It is essential to continue putting pressure on decision-makers, especially in the West, to retract their supportive stances for this zionist terrorist aggression.”

RAFAH CROSSING: “Today, as the Rafah crossing is partially reopened, we emphasize the necessity of the crossing’s continuous operation without interruption in both directions, as it is a purely Egyptian-Palestinian passage. “We assure our people and the proud Gaza that your resistance is steadfast and firm, and it extracts high prices from this enemy for its crimes against you.

“We also assure you that the peoples of the nation are boiling and are eager to participate in this glorious battle, which will surely be a dignified victory crowned with the liberation of our land, our sanctities, and our triumphant return. “And those who have wronged will know to which [kind of] return they will be returned.” “Mercy and eternity to the martyrs, speedy recovery to the wounded, and giants and heroes. All respect and appreciation to you as you fight on all fronts, and I send a salute of pride to our respected people. Peace be upon you and the mercy of Allah and His blessings.”

The writer is a freelance columnist

Biden’s neck

Israel’s prime minister stands in the way of the twostate solution that is the US president’s goal

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FINANCIAL TIMES EDWARD LUCE

AWYERS are taught never to ask a witness a question to which they do not know the answer. That logic also applies to wartime alliances. Joe Biden has hitched his fortunes to a man — Benjamin Netanyahu — who is co-creator of the ghastly dilemma with which Israel is now faced.

The problem with Biden’s bearhug strategy is that he has no veto on the Israeli prime minister’s actions. The tool Biden wields is influence. Everything about Netanyahu suggests that behind-the-scenes suasion is not a method that works.

Were it not for Israel’s discredited leader, Biden’s strategy would be reasonable. Israel feels wounded and threatened; public hectoring by its chief supporter in Washington would only deepen that sense of isolation; that in turn would raise the likelihood that Israel would take blind measures that would further damage its security. Unfortunately that is happening anyway. Biden’s well-intentioned case is already being belied by Israel’s actions.

White House officials say that Biden’s pressure has led Israel to restore internet services to Gaza and permit a limited amount of humanitarian aid into the enclave. It is also possible that the Israel Defense Forces would have entered Gaza sooner and in a more heavy-handed way than is happening. Counterfactuals are hard to prove.

Biden’s staff say his approach is working even though it will be hard to convince the world of that. But their rationale is deteriorating. The case for a sterner Biden approach is made by Netanyahu nearly every day. Last week, Netanyahu cited the prophecies of Isaiah in defence of the coming war. This was a biblical reference to God’s protection of the Jewish people. It also served as a dog whistle to Netanyahu’s allies in America’s evangelical movement. One of them, Mike Johnson, is now speaker of the US house of representatives.

Such talk from Israel’s leader and America’s de facto leader of the opposition deprives Hamas of its dark

monopoly on theocracy. In a social media post since deleted, Netanyahu talked of a war between “the children of light and the children of darkness”. From Biden’s point of view, such imagery is disastrous.

More than 3,000 Palestinian children are estimated to have died already and that toll is set to grow.

But in crisis there is opportunity.

Biden has reiterated that America’s goal remains the two-state solution. On the theory that it is darkest before dawn, Hamas’s barbaric slaughter and Israel’s retaliatory actions have reinforced the case that only a Palestinian state can guarantee Israel’s security. The alternatives — a binational secular state, or the status quo — can respectively be dismissed as fantasy and unacceptable. Yet Netanyahu’s life work has been about making the two-state solution impossible.

One of the reasons that Israel’s security services were caught napping on October 7 is because the IDF’s forces were focused on the occupied West Bank. Over the past two years the territory has endured its worst violence since the end of the second intifada in 2005, as Israeli troops have launched almost daily raids. So combustible is the situation in the West Bank that the IDF was nowhere to be found when Hamas unleashed its unspeakable terror. That negligence belongs to Netanyahu.

By some measure, Netanyahu is Israel’s worst leader. But Biden does not have the luxury of waiting for history’s verdict. Israel’s military plan to remove Hamas has to be linked to the political settlement that will come afterwards. Netanyahu stands in the way of Biden’s two-state goal. Assuming it is feasible, can eliminating Hamas be done in a way to increase Palestinian support for a nonviolent alternative? Who will administer Gaza? The likelihood is that Israel’s levelling of parts of Gaza, pressuring Egypt and other Arab states to take its 2.2mn people as refugees, and then retreating behind a more fortified garrison, will only increase Palestinian support for extremism. Israel’s next battle front would then be the West Bank.

This is where Biden’s approach could turn to disaster. Unless he can pressure Netanyahu into an improbable change of heart, Israel is set to proceed with what will look to the world like collective punishment, even if it takes every precaution to minimise civilian deaths. Biden will be held responsible. Those who know Biden, rightly say that his approach is sincere. It is also effective politics against a Republican party that is urging biblical revenge on the Palestinians. But that does not make it wise. Like a good lawyer, Biden needs to control his witness. Yet Netanyahu answers to nobody but himself. While Netanyahu remains, Biden’s presidency is hostage to a man who will never repay the favour.

06 NEWS

ISRAEL’S NETANYAHU FACES RECKONING OVER HAMAS DISASTER

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JERUSALEM reuterS

RIME Minister Benjamin Netanyahu built his reputation as a security hawk on the back of his service in an elite special forces unit that carried out some of Israel’s most daring hostage rescues.

His legacy as his country’s longest serving leader will now be shaped by one of the worst security failures it has known and by the fate of more than 200 hostages seized by Palestinian Hamas gunmen from Gaza who Israel says killed 1,400 people on the deadliest day of its 75-year-old history.

The scale of the killing, accounts of trauma and images of the violence that emerged from the southern Israeli communities around Gaza have shaken the country.

In his sixth term as prime minister, Netanyahu, 74, heads one of Israel’s most extreme right-wing coalitions and has come under increasing pressure as the initial shock has given way to fury at the failures that allowed the attack to take place.

He has refused to accept responsibility, saying only that everyone will have to answer difficult questions when the war with Hamas is over, and in one of his rare press conferences, dismissed a question asking if he would resign.

But the mood of the country has

turned, according to opinion polls showing a large majority blaming him, underpinned by images of cabinet ministers being abused in public when they step out of their official cars.

An October 18-19 Maariv newspaper poll showed former Defence Minister Benny Gantz, an opposition centrist party head in a newly formed unity government, was favoured for prime minister by 48% of respondents, compared with only 28% for Netanyahu.

“Netanyahu is going to go. Just like the top military, the intelligence and GSS (intelligence service) officials. Because they failed,” the daily newspaper Israel Hayom wrote in an editorial this week.

Facing trial on corruption charges, which he denies, his popularity had already been dented by a bitter battle over plans to curb the powers of the Supreme Court, which brought hundreds of thousands of Israelis to the streets for months.

For now, political consequences have

been put on hold as Israeli jets carry out airstrikes the Gaza health ministry says have killed more than 8,000 Palestinians and Israeli tanks have smashed their way deep into the blockaded enclave.

But much will depend on the result of the operation, whose declared aim is to destroy Hamas forever and whether his own party will continue to support him in the face of the increasingly loud calls for change.

‘THE GOVERNMENT MUST DELIVER,’ HIS ALLY SAYS “I’m not concerned about the polls, I am concerned about delivery of results and I think Prime Minister Netanyahu and the government must deliver,” said Danny Danon, a former Israeli ambassador to the United Nations and a member of Netanyahu’s ruling Likud party in parliament.

“We have seen too many cycles in the past where pressure forced the government not to complete the mission and to leave Hamas in power,” he said.

“If the government will not deliver what it promised which is the eradication of Hamas, I am sure it will not be accepted – not by the public and not by the political system.”

But the military test, though daunting enough on its own, is not the only challenge.

Netanyahu, who burned through the goodwill even of allies like the United States in the battle over judicial reform, is viewed

Cash-strapped North Korea shuts down scores of embassies worldwide NORTH KOREA reuterS

North Korea has initiated the closure of approximately a dozen embassies across the world, including those in Spain, Hong Kong, and various African countries.

Reports and analysts suggest that nearly a quarter of North Korea’s global diplomatic missions could be affected.

The move is seen as a result of the economic challenges faced by the isolated nation due to international sanctions. South Korea’s unification ministry commented on North Korea’s embassy closures, indicating that these actions reflect the nation’s struggle to generate income abroad.

North Korean state media, KCNA, reported that the country’s ambassadors recently conducted “farewell” visits to leaders in Angola and Uganda. Local media in these African countries confirmed the shutdown of North Korean embassies.

Both Angola and Uganda have maintained friendly relations with North Korea since the 1970s, engaging in military cooperation and projects that provide foreign currency, such as

statue-building initiatives.

The closure of embassies could signal a significant shift in North Korea’s foreign policy, with potential consequences for diplomatic engagement, humanitarian efforts within the country, and the ability to generate revenue through illicit means, according to Chad O’Carroll, the founder of NK Pro, a North Koreafocused website.

Challenges such as international sanctions, a trend of North Korea’s disengagement on the global stage, and the

probable economic weakening of the nation likely contribute to the closure of over a dozen diplomatic missions.

The South Korean unification ministry, responsible for inter-Korean affairs, stated that this withdrawal is a result of the impact of international sanctions, which aim to cut off funding for North Korea’s nuclear and missile programs.

The ministry explained, “They appear to be withdrawing as their foreign currency earning business has stumbled due to the international community’s

strengthening of sanctions, making it difficult to maintain the embassies any longer.”

This action reflects North Korea’s challenging economic situation, preventing the maintenance of even minimal diplomatic relations with traditionally friendly nations.

As per the ministry, North Korea has formal relations with 159 countries, but had 53 diplomatic missions overseas, including three consulates and three representative offices, until the recent closures in Angola and Uganda. Furthermore, North Korea is expected to close its embassy in Spain, with its mission in Italy handling affairs for the neighbouring country.

Notably, the North Korean embassy in Madrid had previously garnered attention when a group seeking the overthrow of North Korean leader Kim Jong Un staged a break-in in 2019. During this incident, embassy staff were restrained, and computers and other devices were stolen.

Pyongyang condemned it as a “grave breach of sovereignty and a terrorist attack,” blaming the United States for insufficiently investigating the group and refusing to extradite its leader.

China, US, UK sign declaration to lay groundwork for AI global governance ISLAMABAD Mian abrar

China, the US, the UK and the EU have signed a declaration in UK that posits artificial intelligence (AI) poses catastrophic risk to humanity, while also noting the “need for international action” on such risks. Such declaration signals that a future model to address AI-related risks is being formed with China’s participation, Chinese AI experts said on Thursday.

In the future, China’s experience in AI governance can be an example for the international community, especially the Global South, as China’s experience provides an alternative to the Western approach and shows Beijing’s unique model of seeking balance between AI regulation and innovation preservation, the Chinese AI experts elaborated.

However, since China is too big to ignore when it comes to global AI cooperation, analysts notified the phenomenon that Western countries are trying to entice China on cooperation in some areas while attempting to alienate and crack down on China in others. Such hypocritical approach will only hobble global cooperation in AI, and ultimately shoot those countries in their own feet.

Twenty-eight governments signed the Bletchley Declaration on the first day of the AI safety summit, hosted by the UK, per Guardian report on Wednesday local time. The countries agreed to work together on AI safety research, even amid signs that the US and UK are competing to take the lead over developing

new regulations. British Prime Minister Rishi Sunak welcomed the declaration, calling it “quite incredible.” In remarks ahead of his own appearance at the summit on Thursday, the prime minister said, “There will be nothing more transformative to the futures of our children and grandchildren than technological advances like AI.” Wu Zhaohui, China’s vice minister of science and technology, spoke at the opening plenary session of the summit on Wednesday, and the Chinese delegation participated in discussions on AI safety and other issues.

The Chinese delegation urged all sides to enhance the representation of developing countries in the global governance of AI, and constantly bridge the intelligence gap and governance capacity gap. The Chinese side expressed willingness to work with all parties to strengthen communication and exchanges on AI safety governance, and contribute China’s wisdom to the formation of an international mechanism with universal participation, and a governance framework with broad consensus, according to the speech by Wu published on the official website of the Ministry of Science and Technology on Wednesday. The Chinese delegation also noted that China is willing to work with all sides to implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, and promote AI technology to better benefit mankind and build a community with a shared future.

CHINA’S REFERENCE FOR WORLD The Bletchley declaration signals that the future model for addressing AI-related risks has of-

ficially been formed, Li Zonghui, vice president of the Institute of Cyber and Artificial Intelligence Rule of Law affiliated with the Nanjing University of Aeronautics and Astronautics, told the Global Times on Thursday.

Although countries have different ways of governing AI, “when the international community looks back for the origin of AI governance in the future, the declaration is the first thing they will come up with.”

Li said. The participation of China and Wu’s remarks have made many international headlines, as many insiders believe China’s participation is significant. UK Deputy Prime Minister Oliver Dowden said China’s presence is important as a “major AI power.”

Li said that China’s involvement in global AI regulation has twofold meanings – on one hand, China can represent the voice of Global South and on the other hand, it provides an approach different from that of the West.

“As there’s already a huge gap between the Global South and the Global North in terms of AI technology, we have to make sure the gap won’t be further widened on governance,” noted Li. “China’s experience in the governance of the technology can provide reference for others, especially the developing countries.” China launched in October a global AI governance initiative, which had systematically outlined China’s proposals on AI governance from three aspects, namely, the development, security and governance of AI, according to Chinese authorities.

Saudi govt launches campaign to provide aid to Palestinians in Gaza ISLAMABAD agenCieS

As per the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, the King Salman Humanitarian Aid and Relief Centre (KSrelief) launched a public donation campaign through the “Sahem” platform to provide relief to the Palestinian people in the Gaza Strip.

Advisor to the Royal Court and Director General of the King Salman Center for Humanitarian Relief, His Excellency Dr. Abdullah bin Abdulaziz Al-Rabiah, announced the launch of a popular fundraising campaign to help the Palestinian people in the Gaza Strip, following directives from the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince.

He stated that this magnanimous instruction reflects the noble values of this generous nation’s leadership and its honorable people who have responded to their

leaders’ call. During the launch event, Dr. Abdullah Al-Rabiah announced that King Salman bin Abdulaziz Al Saud has donated SAR 30 million to the campaign, while Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has contributed SAR 20 million.

His Excellency Dr. Al-Rabiah explained that donations can be made through several methods, including KSrelief’s “Sahem” platform, the “Sahem” mobile application, the dedicated bank account for the campaign, or other donation channels available on KSrelief’s website.

Friday, 3 November, 2023 | LAHORE

with deep suspicion in much of the world due to his alliance with hardline religious and nationalist parties.

In addition to pressure over issues like the relentless expansion of Jewish settlements in the occupied West Bank, there has been mounting alarm internationally at the scale of casualties during the bombing of Gaza.

The economy, squeezed by the uncertainty over the judicial overhaul process, which was strongly opposed by most of the business community, has been further hit with businesses in sectors ranging from construction to food services reporting sharp drops in revenue.

Netanyahu, normally a smooth and assured figure, has appeared increasingly erratic, notably in an incident this week in which he sent out a late-night tweet blaming his intelligence chiefs for failing to warn him of the Oct. 7 attack.

The tweet was deleted the following morning and Netanyahu issued an apology but the damage was done and there was a firestorm of criticism from the press and across the political spectrum.

“He is a man who is unfit to serve as prime minister,” an editorialist in Yedioth Ahronoth, Israel’s biggest selling newspaper, wrote this week, adding that Netanyahu should have resigned or been removed immediately after the Oct. 7 attack.

Putin revokes Russia’s ratification of nuclear test ban treaty MOSCOW

agenCieS

President Vladimir Putin on Thursday signed off on a law revoking Russia’s ratification of the Comprehensive Nuclear Test Ban Treaty, a move he says is designed to bring Moscow into line with the United States. Russia says that it will not resume testing unless Washington does and that its de-ratification does not change its nuclear posture or the way it shares information about its nuclear activities. Washington had signed but never ratified the 1996 treaty and Putin had said he wanted Russia, which had signed and ratified the pact, to adopt the same stance on the treaty as the United States. Some Western arms control experts are concerned that Russia may be inching towards a test to intimidate and evoke fear amid the Ukraine war, an idea Russian officials have played down. Putin said on Oct. 5 that he was not ready to say whether or not Russia should resume nuclear testing after calls from some Russian security experts and lawmakers to test a nuclear bomb as a warning to the West.

Remains of Li Keqiang cremated in Beijing BEIJING

Staff CorreSpondent

The remains of Comrade Li Keqiang, who was a member of the Standing Committee of the Political Bureau of the 17th, 18th and 19th Communist Party of China (CPC) central committees and former premier of the State Council, were cremated at the Babaoshan Revolutionary Cemetery in Beijing on Thursday. Li was extolled as an excellent CPC member, a time-tested and loyal communist soldier and an outstanding proletarian revolutionist, statesman and leader of the Party and the state. Li died of a sudden heart attack at 00:10 on Oct. 27 in Shanghai after all-out rescue efforts failed. He was 68. Xi Jinping, Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi, Han Zheng and Hu Jintao, among others, had either visited Li Keqiang when he was in hospital or expressed deep condolences and offered sincere sympathies to his family through various means after his passing. On Thursday morning, the cemetery’s auditorium was immersed in solemnity, with a mournful dirge playing in the background. At the main hall hung a black banner with white characters that read “Deeply mourn for Comrade Li Keqiang.” Under the banner was a portrait of him. The body of Li, covered with the flag of the CPC, lay amidst flowers and evergreen cypresses. Around 9 a.m., Xi and his wife Peng Liyuan, Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi, Han Zheng and others walked slowly up to Li Keqiang’s remains, stood in solemn silence to pay their tributes, and made three bows. They shook hands with Li’s family members, offering their condolences. Hu Jintao sent a wreath to express his condolences over Li’s passing.

Friday, 3 November, 2023 | LAHORE

CORPORATE CORNER SNGPL cuts another 103 illegal connections in Punjab, KP and Islamabad

LAHORE: During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 103 connections while imposing fine of Rs.6 million and 292 under billing cases processed In Lahore, the regional team disconnected 4 connections on illegal use of gas and another 6 on use of compressor, 38 Under billing cases have been processed and amount of Rs 1.49 booked against gas theives and under billing cases.The company disconnected 2 connections on use of compressor and 60 Under billing cases have been processed and fine of Rs 0.31 Million imposed against gas pilferers in Multan.In Peshawar, the company disconnected 37 connections on account of direct use of gas and illegal connections and 12 Under billing cases. PR

PJBF hosts 15th annual general meeting

KARACHI: The Pakistan-Japan Business Forum (PJBF) held its 15th Annual General Meeting (AGM) chaired by its Patron-in-Chief, Ambassador of Japan Mitsuhiro Wada.

The newly-appointed PJBF Chairman Murtaza Mandviwalla, his predecessor Kalim Farooqui, supported by Senior Vice Chairman Itaru Nakamura and Vice Chairman Feroz Alam Shah shared the details of this year’s performance report, while the financial report was presented by Finance Director Hanif Sattar.

The Pakistan-Japan Business Forum is a leading bilateral business forum with 20 directors on its board having business interests in Japan, 10 of whom are Japanese nationals residing in Pakistan and spearheading Japanese conglomerates here. PR

OGDCL hosts consultative session on human resource, professional development in mining sector of Pakistan

ISLAMABAD: Oil & Gas Development Company Limited OGDCL and Ministry of Energy (Petroleum Division) organized a day-long Conference and Consultative Session on the present state of qualified and trained Human Resource in the Mining and Mineral Sector of Pakistan. CEOs of Public Sector Mining Companies including Sandak Metals, PMDC and Pakistan Minerals Ltd along with Chairpersons of Mining Departments of Public Sector Universities participated in the event. Senior Management of the Higher Education Commission and Director General (Minerals) were also present.

The event was organized in view of renewed focus of the Federal Government and SIFC on the Mining Sector for economic growth and prosperity of Pakistan. The Chairpersons / Deans gave detailed presentations on the existing curriculum, international best practices and training requirement of mining professionals for large scale mining projects. Representatives of training institutes also shared their views on training opportunities and future needs. PR

OICCI urges collaborative efforts to address climate crisis at Pakistan Climate Conference 2023

KARACHI: “Climate change is a global issue but in Pakistan’s case it is evident that climate change is happening now and not a phenomenon that only our future generations will experience,” said Amir Paracha, OICCI President at the 2nd Pakistan Climate Conference on November 01.This is the second consecutive year that the OICCI has organized the Climate Conference with the aim for a better climate action in the country. Despite being responsible for less than 1% of the world’s planetwarming gases, Pakistan is the eighth most vulnerable nation to the climate crisis. Caretaker Finance Minister Shamshad Akhtar, while addressing the conference, said that to address climate related challenges, Pkistan would require an investment of approximately $340 billion dollars, which is 10pc of cumulative GDP. One of the biggest challenges we have internationally is the issue of trade-off between climate finance and developmental finance. She said that getting money for Pakistan’s climate crisis undercuts other development finance. PR

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PBF LAUDS APPROVAL OF RMB FOR EXPORTERS IN TRADE WITH CHINESE COMPANIES NEWS

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ISLAMABAD

STAFF REPORT

AKISTAN Business Forum (PBF) has commended the efforts of the finance division and State Bank of Pakistan for the approval of Chinese yuan (RMB) while trading with Chinese companies.

Talking to media on Thursday, PBF Chairman (Capital Area), Atif Ikram Sheikh said that Commercial Bank of China (ICBC) has granted approval for yuan (RMB) clearing services in Pakistan. This means ICBC will facilitate yuan transaction clearing for Pakistani banks.

“I extended my gratitude to the Finance Minister and the Governor of the State Bank of Pakistan for their persistent efforts in making this possible.”

He said this development simplifies cross-border transactions and fulfills fi-

nancing needs for both countries. It also provides more choices for our exporters and reduces currency conversion costs when trading with China.

PBF now encourages the Pakistani exporters to make the most of this opportunity for trade with China, strengthening

our economic ties and take better share in bilateral trade.

PBF Chairman Atif Ikram further said that China remains Pakistan’s largest trading partner and it is expected as special economic zones (SEZs) under the umbrella of CPEC are being established

Pakistani hacker threatens Japan with cyberattacks ‘for supporting Israel’ ISLAMABAD

AHMAD AHMADANI

A hacker group probably hailing from Pakistan has threatened Japan with cyberattacks for its support of Israel, it was learnt on Wednesday.

The alarming announcement surfaced on social media through an account named “Pakistani Leet Hacker” (@Team_insane_pk1), where the group claimed responsibility for targeting multiple Japanese websites.

According to this hacker group, 13 prominent Japanese sites, including the Economic Department, Embassy of Israel in Japan, news.yahoo.co.jp, Atomic Energy Society of Japan, J-Power, Tokyo Skytree, and several governmentrelated platforms, Metro Tokyo official website, Konoike group Japan’s official website, Japan Chamber of Commerce and Industry’s website, Toshimitsu Mogi’s official’s website, Yoshihide Suga official website, Japan Business Federation/Keidanren website, Japan official website of the Liberal Democratic Party, Japan NTTPC Communications official website etc were compromised.

Taking on twitter, this hacker group, identifying themselves as “Team Insane Pakistan,” asserted their actions were in response to Japan’s alleged support for Zionists. The group accused Japan of having a cybersecurity system established by the Israeli government, a claim that has sparked widespread concern among Japanese citizens.

It is also learnt from the social media that Japanese individuals and institutions while expressing their concerns have been reporting these threats to local law enforcement agencies while the increasing

cyberattacks have raised fears not only about the immediate security of the targeted websites but also about the potential implications for Japan’s broader cybersecurity infrastructure.

Despite the gravity of the situation, repeated attempts to obtain an official response from the Pakistan Telecommunication Authority (PTA) regarding these threats to Japan by an online account claiming to be a Pakistani hacker group and its statement of responsibility on social media for hacking the websites of Japan for supporting Israel has so far remained in vain.

PPP leader lauds UAE efforts for resolving Palestine issue LAHORE

STAFF REPORT

Pakistan People's Party Gulf President Mian Munir Hans has said that the efforts of the United Arab Emirates to resolve the issue of Palestine are commendable. In his statements, Mian Munir Hans has appreciated the role of the United Arab Emirates (UAE) in the ongoing War between Israel and Pales-

tine and said that if there is no ceasefire, there is a fear of more casualties.

He said that UAE has always played a positive role on such an occasion which is appreciated by the whole world. He said that the role of UAE to establish peace in the world is commendable. He also appealed to other Arab countries to play a similar role as the UAE in order to be established in the world.

Xenith PR celebrates 24 years of success and achievements

KARACHI: Xenith Public Relations (Pvt.) Limited, a full-service communications agency, is thrilled to celebrate its 24th anniversary this month. Founded in 1999 by visionary PR expert Zainab Ansari, Xenith PR has emerged as a trailblazer in the public relations sector, continuously evolving and staying at the forefront of industry trends and evolution. Although the agency initially opened its doors to local and global clients for public relations services only, it later transformed into a fully functioning communications agency, adding event management to its forte in 2004 and digital engagement by 2012, offering its longstanding clientele comprehensive solutions that cater to their diverse needs. Zainab Ansari, Founder and Chairperson at Xenith PR, expressed her gratitude and appreciation, stating, "As we celebrate our 24th anniversary, I am filled with immense pride for all the talented individuals who contributed to our success. With all the invaluable experience we have gained along this journey, we are thrilled to step into a brighter future alongside our clients and our community. I would also like to recognize our clients, who stood with us from Day One of our journey and remained our partners through the years. " PR

PTCL Group, Pink Ribbon collaborate for breast cancer awareness campaign

ISLAMABAD: Pakistan’s leading telecom and ICT services provider, PTCL Group (PTCL & Ufone 4G) in collaboration with Pink Ribbon Pakistan led a month-long campaign dedicated to educating and raising awareness about breast cancer. The campaign, multifaceted in its approach, exemplified the Group's commitment to empowering individuals in their fight against breast cancer, emphasizing its dedication to the cause and support for those impacted by this disease.The Group kick-started the campaign by converting the official company logos to pink on all digital platforms. This was followed by an internal awareness messaging campaign to educate employees about early detection and breast cancer prevention, accompanied by an awareness session in collaboration with Pink Ribbon. PR

Secretary Poverty Alleviation and Social Safety Division, Baitul Mal MD open shelter home in Tarlai

Under the supervision of the Secretary of the Ministry of Poverty Alleviation and Social Safety Division, Yusuf Khan, and the Managing Director of Pakistan Bait Ul Mal, Amir Fida Paracha, the inauguration of Pakistan Bait Ul Mal's Shelter Home in Tarlai was conducted.During this occasion, both individuals assessed the facilities provided at the Shelter Home, inspecting the cleanliness and the quality of food. Secretary Yusuf Khan inquired with the Shelter Home staff about the amenities provided to laborers and needy individuals and instructed them to ensure the provision of standard facilities as per the SOPs. Secretary Yusuf Khan and Managing Director Aamer Fida Paracha also engaged with the eligible beneficiaries present at the site. PR

and functionally properly, they will attract more FDI for Pakistan in the near future not only from China, but also from other countries.

As from 2013 to 2022, the volume of trade in goods between China and BRI countries has doubled from US $1.04 trillion to US $2.07 trillion, with an average annual growth rate of 8%”.

In the same period, China’s cumulative bilateral investment in BRI countries exceeded US $270 billion, he added.

By the end of 2022, Chinese companies had invested a total of $57.13 billion in overseas economic and trade cooperation zones in BRI countries, creating 421,000 jobs.

From 2013 to 2022, over half of China’s contracted projects abroad are in BRI countries, with the total value of new contracts signed and the total turnover of completed projects in BRI countries exceeding US $1.2 trillion and US $800 billion respectively.

Tech Valley Pakistan, Karachi Police join forces to propel policing into digital age with google workspace

KARACHI: Karachi Police and Tech Valley Pakistan, a Google Workspace and Google for Education Partner in Pakistan are proud to announce a transformative collaboration aimed at revolutionizing law enforcement through digital innovation. This visionary initiative promises to streamline policing processes, resulting in more effective law enforcement and enhanced public safety.An MOU was signed between Mr. Imran Yaqub, DIG Administration, Karachi Police with Mr. Umar Farooq, CEO Tech Valley Pakistan, in the presence of Regional head of Google for Education, Australia, New Zealand and Pakistan, Mr. Paul Hutchings and Google for Education Consultant for Asia Pacific Region, Mr. Harris Sufian. PR

Sports in Pakistan to raise Rs15m funds for Shaukat Khanum

KARACHI: Sports in Pakistan, a leading sports organization, organized an activity of run and ride recently to promote physical fitness and well-being of the women and create awareness and funds for cancer research and treatment.The sports company has taken an initiative aiming to raise funds of Rs. 15 million for Shaukat Khanum Memorial Cancer Hospital.These funds will be dedicated to the construction of a mammography Room at the Shaukat Khanum Memorial Cancer Hospital, enabling enhanced diagnostic capabilities, and providing vital support to breast cancer patients.Cancer knows no boundaries and affects individuals from all walks of life. In recognition of this universal challenge, Sports in Pakistan has taken up the mantle by organizing the Pinktober event.

Through this event, we aim to bring together individuals, communities, and sports enthusiasts alike, fostering unity and contributing towards this worthy cause.Shoaib Nizami, CEO of Sports in Pakistan, expressed his enthusiasm for the Pinktober event, stating, "We are honored to organize Pinktober and contribute to the fight against cancer. PR

Revolutionizing Healthcare: Tele-Tabeeb (1123) celebrates 2nd anniversary of serving half a million people

The Tele-Tabeeb (1123) is a telehealth platform of Sindh Integrated Emergency & Health Services (SIEHS) that has served more than half a million individuals in two years.According to details, TeleTabeeb has served approx. 6 lakh individuals from August 2021 to August 2023; out of which 1,961 were counselled for mental health while 68,795 cases were of tracking and monitoring related to Covid-19.It is to be noted that Tele-Tabeeb offers free-of-cost medical consultation and counselling to people, living anywhere in Pakistan 24/7 to detect medical conditions early, provide timely referrals, reduce patient load in hospitals, increase healthy habits uptake in high-risk communities and save money on direct and indirect medical expenses. PR

Thar Foundation provides solar systems to 1,035 households under VEP: CEO SECMC

KARACHI: The Thar Foundation recently marked a significant milestone with the inauguration of the Village Electrification Project (VEP), set to illuminate households in Thar Coal Block II through the installation of solar systems.As part of the initiative, a total of 1035 households are poised to benefit, painting a promising picture of progress and development for the region's villages.The project was inaugurated by CEO Sindh Engro Coal Mining Company Amir Iqbal in a ceremony held at Thar coal block II while Azhar Malik (Director site SECMC), Farhan Ansari (GM Thar Foundation), Fazal Thebo (GM EPTL), and Tarique Fareed (GM Admin HUBCO) were also present on the occasion.“Thar coal block two is already providing electricity to three million households in the country, and under Village Electrification Project (VEP), solar electricity will be provided to 1000+ households, whilst young local workers trained under vocational training initiative of Thar Foundation will work on this project. PR

MAY 9 VIOLENCE: JIT RECORDS IMRAN KHAN’S STATEMENT NEWS

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RAWALPINDI

STAFF REPORT

joint investigation team (JIT) of the Rawalpindi police on Thursday recorded the statement of Pakistan Tehreek-iInsaf (PTI) Chairman and former prime minister Imran Khan in the cases registered against him over the violent incidents on May 9, 2023.

Imran is currently in the Adiala Jail on judicial remand in the cipher case, which is being tried by a special court established under the Official Secrets Act (OSA). Last week, the police had tried to record Imran’s statement but he refused to talk to the police without the presence of his lawyer.

According to police sources, the JIT comprising three superintendents of police and investigation officers from three police stations, visited the Adiala Jail again and recorded Imran’s statement for over about one and a half hours in the presence of his lawyer, Hamid Khan.

Imran is booked in multiple cases related to the violence on May 9, which erupted across the country following his arrest in a corruption case. The cases registered in Rawalpindi included attack on the gate of General Headquarters (GHQ), rioting in the office of a sensitive institu-

tion and others.

Besides there are 13 different cases related to the May 9 riots in Rawalpindi, which were being investigated separately. According to the police sources, in his statement, the PTI chairman denied the allegations mentioned in the first information reports (FIRs) of the cases.

Separately, the Islamabad High Court issued notices to the federation, law ministry and the Federal Investigation Agency (FIA) after admitting for hearing Imran’s intra-court appeal against the appointment of the special court judge and the cipher case trial jail inside the jail.

A division bench, comprising Justice Miangul Hasan Aurangzeb and Justice Saman Rifat Imtiaz heard the intra-court appeal of the PTI chairman against the decision of a single judge bench last month that upheld the appointment of a special court judge and the jail trial.

During the hearing, the additional attorney general (AAG) informed the bench that the special court judge had been appointed as per the law. Justice Aurangzeb remarked that this was era of openness, open court and open hearing, stressing that justice should be seen to be done.

The AAG said that a summary for the appointment of the judge was sent by

Spies bust in Qatar testified India’s involvement in espionage, sabotage: FO ISLAMABAD

STAFF REPORT

Pakistan on Thursday underscored its longstanding concerns about the Indian sabotage network and espionage activities, saying arrest of Indian spies recently in Qatar bore testimony to the New Delhi’s involvement in espionage and sabotage networks operating in various countries, especially in Middle East and other regions. At the weekly press briefing on Thursday, Foreign Office Spokesperson Mumtaz Zahra Baloch noted that reports of death sentences handed down to Indian Navy officers in Qatar would have sent shockwaves through India’s Ministry of External Affairs.

The foreign office spokesperson pointed to the 2016 arrest of Indian spy Kulbhushan Jadhav, a senior Indian Navy officer, on charges of sabotage and espionage within Pakistan, as a significant example of such activities.

Qatar’s recent court verdict sentenced eight former Indian Navy officials to death for serious espionage charges, accusing them of spying for Israel and working for the Indian intelligence agency, RAW. They were reportedly caught carrying out espionage activities in Qatar, providing Israel with details of Qatar’s secret programme to purchase advanced submarines from Italy.

“This episode also shows India’s reckless and irresponsible conduct in clear violation of international law and the UN principle of state sovereignty”, she pointed out, adding it calls into question India’s reliability as a credible partner.

‘UNSC must act for peace in Gaza’ Expressing concerns over the dire situation in Gaza, the FO spokesperson Baloch stated that UN Security Council must act and fulfill its responsibility of upholding peace. She said the world body must call for lifting the siege, protecting civilians and facilitating humanitarian corridors for provision of uninterrupted essential supplies to the beleaguered people of Gaza.

“World body must call for lifting the siege, protecting civilians and facilitating humanitarian corridors for provision of uninterrupted essential supplies to the beleaguered people of Gaza” she reiterated.

Baloch also strongly condemned the ongoing Israeli military actions in Gaza, referring to them as intolerable and tantamount to war crimes. Baloch urged the international community to intervene and halt the ongoing genocide in occupied Palestine, emphasising the need for the United Nations to advocate for an end to the siege, cessation of bombing, and the opening of humanitarian corridors.

‘Illegal foreigners’ repatriation plan’ Alluding to the illegal foreigners’ repatriation plan, the foreign office spokesperson said this applies to all foreigners residing illegally in Pakistan irrespective of their nationality and country of origin. She said this process will continue in an orderly and phased manner.

She said this decision is in exercise of Pakistan’s sovereign domestic laws and compliant with applicable international norms and principles.

She clarified that the repatriation plan specifically targets migrants living in Pakistan without proper documentation and does not encompass refugees.

The interior ministry is investigating reports of alleged mistreatment of Afghan nationals, she added.

The FO spokesperson shared that the interior ministry is addressing the issue of 12,000 counterfeit passports recovered in Saudi Arabia. Saudi Arabian authorities recently disclosed the recovery of over 12,000 Pakistani passports from Afghan nationals, allegedly procured through multiple passport centers operating within Pakistan.

No indication PTI chief being poisoned: Imran’s physician

RAWALPINDI: There is no apparent indication that former premier Imran Khan is being subjected to ‘slow poison’ in prison, confirmed his personal physician Dr Faisal Sultan on Thursday.

Dr Sultan was speaking to the media after meeting with the ousted premier and Pakistan Tehreek-i-Insaf chief in Adiala Jail, where Imran is being held in connection with the cypher case.

He told journalists that Imran’s health and diet were both satisfactory and the ousted premier voiced no complaints in this regard. Perhaps he had expressed some concerns regarding his health earlier and those are now being misquoted, said Dr Sultan, clarifying that no such symptoms were detected in the physical examination now.

the law ministry to the cabinet which was approved. After the approval from the cabinet, the notification of the appointment of the judge was issued, he added.

PTI’s lawyer Salman Akram Raja told the court that it was a federal matter;

Meanwhile, Imran’s lawyer Hamid Khan told the media that the party and its supporters were all concerned about Imran’s health given the attacks on his life earlier. He expressed regret that convicted leaders of other political parties were enjoying state protocol while the PTI chairperson was being subjected to distress and judicial harassment. The PTI is not being allowed a level playing field in the upcoming polls, he said, while adding that dialogue between political parties is always possible.

“Who else can dialogue be held with,” he said, adding that this would come to light soon too. Earlier, Rawalpindi Police recorded Imran’s statement in connection with the May 9 cases in the presence of his senior lawyer Khan. STAFF REPORT

therefore, consultation should have been done with the chief justice of Pakistan.

During the jail trial, he added, the general public, the families of the accused and the media were not allowed. Further hearing of the case will be held on November 6.

govt wants your telco to finance next smartphone if you can’t afford it. But how? g

MINISTRY TO SHARE SMARTPHONE FINANCING POLICY WITH STAKEHOLDERS NEXT WEEK PROFIT

SHAHZAD PARACHA & GHULAM ABBAS

The Ministry of Information Technology and Telecommunication has finally prepared the draft policy for smartphone financing. It is going to share the policy with stakeholders next week in a move to provide people with smartphones on instalments.

As per details, Pakistan’s Ministry for Information Technology and Telecommunication (MoITT) has finalised the ‘Smartphone Financing Policy,’ an initiative that aims to make smartphones accessible to a wider population. Despite initial reservations from some key stakeholders, caretaker IT minister Dr. Umar Saif is resolute to implement the policy, paving the way for affordable smartphone ownership across the country.

The draft policy is set to be shared with representatives from the four cellular companies and fintech firms in the coming week, marking a crucial step toward its implementation. Dr. Umar Saif, during a media briefing, expressed confidence in the policy, assuring the public of positive developments in smartphone accessibility through easy instalment plans.

Why is it needed?

Out of 190 million mobile users in Pakistan, 48% mobile users are on outdated 2G mobile phones. And fostering a digitally competitive economy is very difficult when half the population does not have access to smartphones and internet. Therefore, the caretaker government eyes to increase digital inclusion through this policy.

Over the course of the last 3 years, the average smartphone price in Pakistan has gone up by $30, despite localising some of the production. A large chunk of that can be attributed to the depreciation in the value of the rupee.

Why has it not been done yet?

Despite the cell phone financing being a nobrainer and an established market practice across the world, Pakistan has not been able to actualize it.

As previously covered by Profit, all across the globe, telecom operators buy smartphones in bulk and sell them to customers in easy instalments.

However, in Pakistan, telecom companies fear to do

so because of lack of collaboration from banks, high exposure and lack of customer loyalties.

“Phone loans are unsecured. Financing for phones exists for credit card customers, using their cards as collateral,” explains Muhammad Naqi, CEO of Premier Code. Most Pakistanis do not own credit cards. According to Karandaaz, only 1.9 million credit cards existed across Pakistan in December 2022. A majority in Pakistan uses prepaid sims, discounting them as a probable market for a long-term incentive.

Another problem is with the network lock. Globally, IMEI of phones on instalments are locked on one network’s sim so as to ensure the telco’s incentive of providing the phone on instalments.

However, talking to Profit previously on the matter, the COO of Telenor, Khurram Ashfaque said that the telecom companies in Pakistan are fearful to do so because of a prevalence of “jailbreak” technologies in the local market. Handsets procured through loans can be effortlessly unlocked in the open market, What is being done?

Sources said that the Ministry of IT&T with the help of Pakistan Telecommunication Authority (PTA) is working to develop a mechanism to block the IMEIs of those mobile phone users who will not pay their instalment in time.

Dr. Saif revealed that extensive consultations, involving four meetings, have taken place with various stakeholders, including telecom companies, financial institutions, and regulatory bodies such as the PTA and Groupe Speciale Mobile Association(GSMA).

He emphasised the need for a robust mechanism to protect investors from defaults, suggesting measures such as blocking mobile phones and, potentially, national identity cards of defaulters.

While some telecom companies have opposed the idea of a centralised system to block SIM cards associated with defaulters, they have shown enthusiasm for offering smartphones through instalment plans. The banking sector, however, has expressed concerns about the high costs associated with managing mobile phone loans.

Continued on page 03

Hajj 2024: Saudi arabia rolls out flight operations strategy RIYADH

STAFF REPORT

In order to ensure a smooth and well-organized pilgrimage experience for millions of Muslims around the world, Saudi Arabia on Thursday formulated a flight operations strategy for Hajj 2024 .

The General Authority of

Civil Aviation (GACA) in Saudi Arabia has released a detailed schedule related to “pre-judge” flights, set to commence on May 9, 2024, and continue to arrive in Saudi Arabia until June 10, 2024.

Meanwhile, the return journey for pilgrims from Saudi Arabia is scheduled to begin on June 20, 2024, while the last flight for Hajj

2024 will depart from Saudi Arabia on July 21, 2024. As per GACA notification, airlines from various countries, including Pakistan International Airlines (PIA), can submit applications for preand post-Hajj flight operations until January 1, 2024.

Hajj 2024, Saudi Arabia, rolls out, flight operations strategy

Friday, 3 November, 2023

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:40

1:30

4:00

IMF commends govt’s measures to stabilise economy g

6:20

5:18

7:00

MISSION TO REVIEW FIRST QUARTER’S PERFORMANCE IN NEXT TWO WEEKS PROFIT

STAFF REPORT

The International Monetary Fund (IMF) has commended the Pakistani government’s efforts and measures in critical areas to stabilise the economy.

According to the Finance division, Caretaker Federal Minister for Finance, Revenue, & Economic Affairs Dr. Shamshad Akhtar held a meeting with the IMF review mission led by the IMF Mission Chief, Nathan Porter at the Finance Division.

The meeting was attended by IMF resident representative, Ms. Esther Perez Ruiz, Governor SBP Jamil Ahmed, Chairman FBR, Chairman SECP, Secretary Finance, members of IMF delegation and senior officers from the Finance Division.

The Caretaker Minister for Finance, Revenue & Economic Affairs, Dr. Shamshad Akthar welcomed the delegation and shared progress on the Standby Arrangement (SBA).

The Minister briefed the mission on fiscal measures being taken by the government to improve the economic situation.

The meeting also included discussion on comprehensive reforms and measures undertaken by the FBR and the government’s strategies to address the circular debt issue.

On this occasion, the mission chief, Nathan Porter appreciated the government’s commitment to meeting the 1st quarter’s targets, and commended the government’s efforts and measures taken in some critical areas.

He further underscored the importance of continuation of these efforts for staying on track for economic stability of the country.

It is pertinent to note that Pakistan has implemented a series of stringent measures, including a steep increase in electricity and gas prices in accordance with the loan agreement.

Additionally, efforts to reduce government expenditures and advance the privatisation program are reportedly underway, signalling the country’s commitment to meeting the IMF’s conditions.

The Minister Dr. Shamshad Akhtar expressed her appreciation for the continued support and assistance of the IMF. She reaffirmed the government’s commitment to working closely with the IMF to ensure successful completion of the SBA and to achieve the economic objectives.

It merits mention here that the FBR has also achieved its tax collection target for the first four months of the current financial year, something that is seen as a positive indicator of Pakistan’s efforts to meet its fiscal responsibilities under the IMF program. The feat was achieved on the back of high petroleum levy and tax on electricity as mandated by the IMF. Sources said that the mission has an itinerary of two weeks during which the first review of the standby arrangement will be conducted.

If the lender is satisfied with Pakistan’s performance during the review, a second tranche of $700 million is expected to be disbursed.

SHC dismisses plea against Murtaza Wahab’s UC election KARACHI

STAFF REPORT

The Sindh High Court on Thursday dismissed a petition seeking order for restraining City Mayor Murtaza Wahab from contesting elections from various UCs. The high court directed the petitioner to take up the matter with the election tribunal.

Acting SHC Chief Justice Aqeel Abbasi also directed that the tribunal must look into the objections and decide the matter urgently. “Election is a key issue and these cases should be heard on daily basis,” Justice Abbasi observed during proceedings of the petition.

“The matters with regard to the legal flaw should be heard on priority,” the court observed. “Unfortunately, election cases used to be heard for years until the time comes for next election,” Justice Abbasi said.

“Even Supreme Court’s instructions with regard to the local elections are not being followed,” he said.

Earlier, Jamaat Islami’s lawyer said that Murtaza Wahab contesting elections from irrelevant union committees. “It is mandatory that the chairman candidate belongs to the same UC and Murtaza Wahab has not been registered as voter in Ibrahim Hyderi or Keamari UCs,” JI lawyer Usman Farooq argued in the court. “Mayor Karachi using government machinery for his election campaign,” he further argued.

During hearing, the Sindh Advocate General argued that the petition was non-maintainable as only a candidate could raise object over the matter.

Later, the court dismissed the plea on the basis of petitioner’s withdrawal of the case.

Pakistan People’s Party’s Murtaza Wahab has recently won a UC chairman seat to retain his position as Karachi Mayor. In the by-polls, Wahab was elected unopposed as the UC Ibrahim Hyderi’s chairman. He is also contesting polls from Gizri and Kemari areas.

pia expresses fear of potential seizure of aircraft and assets attachment abroad PROFIT

AHMAD AHMADANI

Financial crisis-hit Pakistan International Airlines (PIA) has been facing a $31 million dispute against outstanding rent, re-delivery rent, maintenance reserve and interest charges for the two aircraft and PIA expressed fear of potential confiscation of properties abroad and its aircrafts.

According to sources, Pakistan International Airlines Corporation Limited (PIACL) has received a court notice through Asia Aviation Capital Limited’s UK based counsel Herbert Smith Freehills for immediate payment of USD 31.3 million against outstand-

ing rent, re-delivery rent, maintenance reserve and interest charges for the two aircraft. And PIACL has acknowledged the court notice and on its instructions, PIACL’s UK based counsel Norton Rose & Fullbright sought time from High Court of Justice, England and Wales, London to reply to AACL claims.

PIACL’s position in this matter is quite weak and legal experts have recommended the PIACL to find an out of court resolution with AACL not only with respect to the claimed amounts but also future liabilities with regard to rental payments and re-delivery of the aircraft, they added.

Sources said that Secretary Aviation led negotiation team had conducted negotia-

tions with AACL for out of court settlement in the larger interest of the company and convince the AACL to settle the matter at a consolidate amount of USD 26 million which included transfer of title of two aircraft in two installments.

Earlier, the PIACL obtained two A 320 aircraft AP-BLY (MSN 2926) and AP-BLZ (MSN 2944) on lease for six years from Asia Aviation Capital Limited (AACL) in 2015.

As per industry practice, the lease agreement required that the aircraft would be redelivered after necessary maintenance at a certified maintenance and repair facility (MRO).

Accordingly, on the expiry of lease, PIACL positioned the aircraft at FL Technic MRO,

Jakarta in September and October 2021. It was planned that the aircraft would be redelivered in six to eight months. However, this schedule could not be followed. This led to exchange of claims and counter claims between AACL and PIACL as to the responsibility for the delay, actual amount of the lease rent, penalties and interest to be paid to AACL. Moreover, the dispute in relation to the payment of lease rent led to litigation on two previous occasions i-e in 2019 and 2021 as a consequence of which PIACL was forced to pay USD 12.058 million to AACL. As per sources, the Economic Coordination Committee (ECC) of the Cabinet had earlier considered a summary of the Ministry

of Aviation regarding “ Financial Support to PIACL for settlement of outstanding dues to M/s AACL with Transfer of title of two A 320 Aircraft AP-BLY, AP-BLZ” but the forum (ECC) did not approve the proposal.

The ECC, however, agreed, in principle, for a bridge financing of PKR 8.0 million between PIACL and Pakistan Civil Aviation Authority for settlement and transfer of title of two A-320 Aircrafts, AP-BLY, AP-BLZ and to meet immediate working capital requirement.

The ECC further directed the Ministry of Aviation to handle the settlement agreement with AACL independently, given that it falls outside the purview of the ECC.

Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk