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23 SOLDIERS MARTYRED, 27 TERRORISTS KILLED IN DI KHAN TERRORIST ATTACK: ISPR Wednesday, 13 December, 2023 I 28 Jamada Al-Awal, 1445

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TERRORISTS RAMMED EXPLOSIVE-LADEN VEHICLE AFTER ENTRY BID THWARTED

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RAWALPINDI

CAR BOMB WAS FOLLOWED BY ANOTHER SUICIDE ATTACK

STAFF REPORT

T least 23 soldiers were martyred when militants rammed an explosive-laden truck into a security forces post in Khyber Paktunkhwa’s Dera Ismail Khan (DIK) district, the Inter-Services Public Relations (ISPR) said on Tuesday.

The military’s media wing added that the terrorists rammed the explosiveladen vehicle after their attempts to gain entry were effectively thwarted.

“In early hours of 12 December 2023, a group of six terrorists attacked a security forces’ post in general area Daraban. The attempt to enter the post was effectively thwarted which forced the terrorists to ram an explosive laden vehicle into the post, followed by a suicide bombing attack,” said the ISPR statement.

“The resulting blasts led to the collapse of the building, causing multiple causalities; twenty three brave soldiers embraced shahadat, while all six terrorists were effectively engaged and sent to hell,” the statement added.

The car bomb was followed by another suicide attack, leading to the collapse of the building, causing multiple casualties. Six terrorists were killed in the attack, said ISPR. Security forces were using the building as a base camp, two security officials told Reuters and added that they fear that

ammunition stored inside might have also exploded.

The military’s media wing added that sanitization operations are being conducted to “eliminate any other terrorist present in the area”.

“Sanitization operations are being conducted to eliminate any other terrorist present in the area, as security forces of Pakistan are determined to wipe out the menace of terrorism from the country and such sacrifices of our brave soldiers further strengthens our resolve,” the statement added.

Several people were wounded and in critical condition, said Aizaz Mehmood, an official of the state-run rescue service.

“We are still hearing gunshots,” he told Reuters at the time of the last update around noon.

All bazaars and markets are closed in the area today, while all government and private educational institutions are also closed until further notice.

FUNERAL PRAYERS OFFERED: Funeral prayers of twenty three brave soldiers who embraced Shahadat while fighting terrorists’ attack in Daraban area, was offered in Dera Ismail Khan Garrison later in the day.

Corps Commander Peshawar along with large number of serving officers, soldiers, civil officials and public attended the funeral.

Shuhada will be laid to rest with full military honour in their respective hometowns. Armed Forces of Pakistan stand resolute and committed to eliminate the menace of terrorism from the motherland at all cost.

CONDEMNATIONS POUR IN: President Arif Alvi condemned the attack on security forces and said the sacrifices of the martyrs will not be on vain.

Interim Prime Minister Anwaarul Haq Kakar strongly condemned the terrorist attack on security forces in DI Khan and expressed condolences to the families of the martyred and injured, said a statement released by the Prime Minister’s Office.

Security forces can not be demoralised by such cowardly acts, said Kakar as he directed authorities to provide all possible medical assistance to those injured.

“The entire nation salutes the martyrs who sacrificed their lives in the war against terrorism,” said the caretaker premier.

Caretaker Interior Minister Sarfaraz Ahmad Bugti also strongly condemned the terrorist attack on the security forces installation in DI Khan.

Expressing his heartfelt condolences, the interim minister conveyed his deep regret and distress over the martyrdom of security officials in the terrorist attack.

Praying for the martyrs, Bugti said that we equally share the grief of their families

Justice Naqvi accuses CJP of being ‘biased’ against him ISLAMABAD

STAFF REPORT

Democracy, constitution being trampled under ‘London Plan’: Imran ISLAMABAD

STAFF REPORT

Rs 15.00 | Vol XIV No 164 I 8 Pages I Karachi Edition

Pakistan Tehreek-e-Insaf (PTI) Founding Chairman Imran Khan has expressed his disappointment that democracy, constitution and rule of law in the country are being buried under the nefarious “London Plan”.

Reacting to the ongoing attempts to destroy the country under the infamous “London Plan”, PTI Chairman-for-life, in his message from jail, said that the foundations of the country were being eroded under this reprehensible game of power and money.

Imran Khan contended that unfortunately, this nefarious plan to destroy the country was being implemented rapidly.

He pointed out that owing to this destructive plan, all the state institutions including the constitution, law, democracy and economy were under the grip of total catastrophe, which was evident from mass exodus of millions of young educated and skillful people from the country.

PTI’s Founding Chairman recalled that during the last one year-and-a-half-year, over 1.5 million Pakistanis have already left the country.

Imran Khan stated that it was high time to rid the country of disgusting projects like “London Plan” and the country has to put on the path of constitution and law in order to put Pakistan on the road to progress and prosperity.

PTI Founding Chairman reiterated that PTI will continue to play its role in this regard.

Supreme Court judge, Justice Sayyed Mazahar Ali Akbar Naqvi on Tuesday wrote an open letter to all judges of the apex court, levelling allegations of “bias” against Chief Justice of Pakistan Qazi Faez Isa. “I would not have written this letter in the interest of the preservation of the integrity — that which is left — of the institution where you and I hold public office had these been normal circumstances,” he wrote in his letter.

Justice Naqvi said that the volume of misinformation surrounding the matter of his case before the Supreme Judicial Council (SJC) was astounding.

“I write to you today to dispel with that misinformation, to bring to your attention the unfortunate details, to bring on record the evidence of the obstruction of justice within the Supreme Court – no one shall have the privilege to plead ignorance in this matter should the opportunity come tomorrow.”

The top jurist said that justices Qazi Faez Isa and Sardar Tariq Masood in a letter — dated May 3, 2023 — to the former chief justice Umar Ata Bandial encouraged an immediate initiation of proceedings against him, post the sham audio-leaks controversy.

“I ask, that which I have not before: Has the Honourable Chief Justice of Pakistan, up until this very moment, been able to exonerate his honour and do away with the cloud of uncertainty that hangs over his and the judiciary’s repute?

Why is it that a judge with assets legally acquired and declared in his tax returns is being called to question before the SJC, when the Ho-

nourable Chief Justice remains immune to any such proceedings against his undeclared properties?

Is there a legal or moral justification for this unreasonable disparity,” Justice Naqvi questioned.

He said that the show cause notice issued by the SJC is afflicted with “grievous legal, constitutional and jurisdictional defects”, all of which he had communicated in his preliminary response on November 10, 2023, to the SJC. “The Council, instead of meeting the demands of honour and propriety, decided to convene a series of meetings [November 20th, 21, 22nd] with an unmistakable objective of removing the defects specified in my Preliminary Response and issued a “Revised” SCN. As a consequence, the SJC inadvertently admitted that the initial SCN was defective, that the proceedings were initiated without any investigation or probe into the veracity of the complaints against me, that the members of the SJC are unfit to oversee the relevant proceedings on account of their decided bias and partiality.”

Justice Naqvi said that the

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treatment offered to him by the chairman and the members of the SJC was nothing short of disgraceful. “I have written to the SJC via their Secretary on a total of eleven instances requesting for the provision of documents necessary to the development and formation of my appropriate defence,” he said and added that his requests still have not been complied with.

“I have written in detail demanding the recusal of the Chairman and the two Honourable members of the SJC on at least 4 different occasions. My requests have not been considered, not been responded to. Did not the Chairman of the SJC in his reference before the Supreme Court of Pakistan demand the recusal of Honourable Justices Ijazul Ahsan and Sardar, Tariq Masood I ask again Is there a legal or moral justification for this unreasonable disparity, this blatant violation of my fundamental rights as guaranteed under the Constitution of Pakistan, this clear obstruction of justice that I seek from the most prestigious legal forum in the country,” he questioned.

The SC judge said that the two petitions under Article 184(3) of the Constitution that he had filed were finally fixed for hearing before a three-member bench to convene on Friday, December 15 2023.

“Without raising any objections on the constitution of the Bench myself, allow me to draw your attention to the recent Note [dated 11.12.2023] written by Honourable Justice Ijaz ul Ahsan and addressed to the Registrar of the Supreme Court. The note exposes the manner in which the violations of the Supreme Court (Practice and Procedure) Act 2023 have taken place at the hands of those in authority.”

Nawaz Sharif one step behind contesting polls as IHC acquits him in Al-Azizia Steel Mills reference ISLAMABAD

STAFF REPORT

Following acquittal in Avenfield reference, the Islamabad High Court (IHC) on Tuesday acquitted former prime minister Nawaz Sharif in the Al-Azizia Steel Mills reference, boosting the PML-N optimism about the party supremo Nawaz Sharif’s “eligibility” to contest the upcoming general election.

A division bench of the IHC, comprising of Chief Justice Aamir Farooq and Justice Mian Gul Hasan Aurangzeb announced the reserved verdict on Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif’s appeal against his conviction in the Al-Azizia reference.

The former prime minister appeared before the court along with his legal team.

Nawaz Sharif was convicted by the accountability court in the Avenfield and Al-Azizia references, however, last week he was acquitted by the IHC in the Avenfield reference.

The accountability court had awarded a 10-year jail term with eight million Pounds fine to Nawaz Sharif in the Avenfield case and 7-year sentence in AlAzizia reference. He was also fined Rs1.5 billion and US$25 million.

The court also disqualified Sharif for holding public office for 10 years.

However, in 2019, his sentence in Al-Azizia reference was suspended by the Lahore High Court (LHC) on medical grounds. He was then permitted to fly to London on medical grounds.

The IHC had declared him a proclaimed offender in both cases in December 2020.

After returning from the exile in UK, the PML-N leader filed two separate applications seeking the restoration of his appeals against his conviction in both the references.

At the previous hearing, the IHC rejected the NAB request for remanding back the Al-Azizia Steel Mills reference to the accountability court, and decided to hear the appeal of Pakistan Muslim League-Nawaz (PML-N) Quaid Nawaz Sharif on merit.

During the hearing, Nawaz Sharif’s counsel Amjad Pervaiz said that NAB had filed graft references on the directions of the top court.

Separate references were filed with similar allegations against the former prime minister, he said, adding that they had requested only one reference should be prepared against one allegation.

The lawyer said that NAB had withdrawn its appeal in the Flagship reference while the IHC had acquitted Nawaz Sharif in the Avenfield property case.

Amjad Pervaiz said that the court had to view that whether the prosecution had proved its charges in the Al-Azizia Steel Mills reference or not.

He said that his client was accused of making assets beyond known sources of income. There were 22 witnesses in the cases, including 13 people who presented the case record, he added, adding that there was no eye witness in the case.

He said that Hill Metal Establishment owned by Hussain Nawaz was set up in 2005-2006 in Jeddah. It was set up after selling the Al-Azizia Steel Mills.

The lawyer said that Nawaz Sharif never had any connection with the companies. Amjad Pervaiz said that JIT head Wajid Zia and investigation officer Mehboob Alam could not prove that Hussain Nawaz was the dependent of Nawaz Sharif.

Moreover, he said, Nawaz Sharif was not a public office holder from October 12, 1999 to May 2013. On the occasion, the NAB prosecutor objected on the arguments and said that some miscellaneous applications of Nawaz Sharif were pending which should be decided first or they should withdraw them.

Amjad Pervaiz said that there was an application of defence regarding the videos of judge Arshad Malik, which they would not pursue.

SBP maintains policy rate at 22%, in line with market expectations

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DESPITE INCREASE IN HEADLINE INFLATION IN NOV, SBP EXPECTS INFLATION TO DECLINE IN NEXT HALF OF FY 2024 PROFIT

MARIAM UMAR FAROOQ

The State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 22%, at the Monetary Policy Committee (MPC) meeting held on December 12, 2023. The decision is in line with most analysts’ expectations.

The central bank last hiked the policy rate by 100 basis points (bps) to 22% in an emergency meeting in June ahead of an agreement with the International Monetary Fund (IMF). Since then, it has maintained the rate in meetings held on July 31, September 14, October 30 and December 12.

In a poll conducted by Reuters of 12 analysts, the median estimation projected no change in the rates, with just one analyst advocating for a 100 basis point cut. Looking ahead, there is a general consensus that rates might gradually decrease in the first half of the follow-

ing year, depending on how inflation progresses.

The MPC took note of several significant developments since October. Firstly, the successful finalisation of the staff-level agreement under the International Monetary Fund (IMF) Stand By Agreement (SBA) programme, is expected to bolster financial inflows and enhance SBP’s foreign exchange reserves. Secondly, the gross domestic product (GDP) growth in the first quarter of 2024 met expectations for a moderate economic recovery. Thirdly, recent surveys indicated a positive shift in consumer and business confidence. Finally, core inflation persists at elevated levels, showing a gradual decline.

Considering these developments, the committee affirmed that the current monetary policy stance is suitable to meet the inflation target of 5-7% by the end of the fiscal year 2025. This assessment hinges on sustained

targeted fiscal consolidation and timely realisation of planned external inflows.

The MPC’s decision took into account the recent hike in gas prices in November, which pushed inflation higher than initially expected.

However, there are some balancing factors, like the recent drop in international oil prices and increased availability of agricultural produce, which could offset these effects.

Positive real interest rate The MPC assessed that the real interest rate continues to be positive on a 12-month forward-looking basis and inflation is expected to remain on a downward path.

However, SBP did not provide inflation estimates in today’s MPC. The Governor emphasised that SBP reassesses its inflation forecast twice a year, in July and January.

To highlight, in July 2023, SBP projected an average inflation for fiscal year 2024 in the range of 20-22%.

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

Positive real interest rates encourage people to save and keep their money in banks as it protects them from inflation. So, raising the benchmark interest rate to a point where the real interest rate is positive means less

money is going towards purchases, which decreases demand — one of the primary tools a central bank uses to curb inflation.

Inflation to decline Following the IMF agreement, the Fund asked the SBP to maintain an appropriately tight monetary policy that counters inflation. While inflation clocked in at 31.4% in September, the SBP’s Monetary Policy Statement said it was expected to decline in October and then maintain a downward trajectory, especially in the second half of the fiscal year. It cited downward adjustments in fuel prices, easing prices of some major food commodities, and a favourable base effect for this projection. However, the headline inflation in November stood at 29.2% according to data from the Pakistan Bureau of Statistics (PBS) which is a slight increase from October of 26.9%.

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02 NEWS

Wedneday, 13 December, 2023 | KARACHI

SITARA PEROXIDE LTD STRUGGLES TO RESUME PRODUCTION

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COMPANY WAS HARDLY OPERATIONAL FOR 6 MONTHS IN FISCAL YEAR 2023, AND HAS YET TO BEGIN PRODUCTION IN CURRENT FISCAL YEAR PROFIT

Nisma Riaz

ITARA Peroxide Ltd is a chemical plant that has not been operational almost all year. On December 10, 2023, the company informed the Pakistan Stock Exchange (PSX) that the suspension of production had been extended for another 30 days.

The company quoted repair work and the replacement of heavy cables as the reason for the plant shutdown.

Previously, in a letter dated October 13, 2023, the company secretary Mazhar Ali Khan said the company would pause production for a month due to a theft incident.

According to the letter, some heavy electrical cables worth Rs 65 million had been stolen, and an FIR along with an insurance

claim, had been filed.

The suspension was first extended for another 30 days in November, as seen in an announcement issued by the company on November 7, 2023.

The most recent notification highlights that the company was not able to fix the problem in the last two months and would be taking another 30 days to resume operations.

However, the company had been struggling much before the robbery. The company has not resumed production since June 2023, which was before the robbery in October 2023.

In fact, when the company released its financial results of the fiscal year ended June 30, 2023, it was revealed that Sitara Peroxide had only been operational from July to September in 2022 and March to June in 2023. That means the plant was only opera-

FBR targets non-filer senior bureaucrats, bankers in ongoing tax compliance drive PROFIT

News Desk

The Federal Board of Revenue (FBR) has commenced a targeted initiative to identify and enforce tax return filing among senior bureaucrats, bankers, and individuals in leadership roles within government departments, financial institutions, public sector entities, regulatory bodies, and private institutions.

Following the successful implementation of return filing measures for tax officials nationwide, the FBR is extending its efforts to ensure compliance among high-ranking individuals.

Sources indicate that the FBR has identified non-filers among senior government officials in various ministries, departments, and law enforcement agencies. Additionally, senior executives within financial institutions who have not filed income tax returns will be subject to enforcement measures.

The FBR’s initiative aims to address non-filers holding key positions in different government organizations. Senior government officials occupying top positions are required to file their income tax returns, with the FBR undertaking a comprehensive in-house exercise to enforce compliance.

Previously, tax officers at the rank of BS-17 and above were given a deadline of December 6, 2023, to submit a certificate of e-filing for their returns to the FBR. Many tax officials have complied with this requirement.

The FBR is now extending its focus to senior government officials in various ministries, divisions, and departments who have yet to file their income tax returns, despite the October 31, 2023 deadline.

The FBR’s actions underscore its commitment to ensuring comprehensive tax compliance across government and financial sectors, reinforcing the importance of income tax return filing within specified timelines.

Cabinet decides to limit GM seed imports with sunset clause

This shutdown was expected to last for 30 days, however, on February 14, 2023, the plant closure was extended for another 10 days. Finally, on March 2, 2023, Sitara Peroxide finally resumed plant activity and production. Not for too long though.

According to the financial report for fiscal year 2023, the chemical plant has been closed since June 2023, however, no notification regarding the closure in June was issued to the PSX. On July 7, 2023, the company announced that it was once again temporarily suspending production activity due to the non-availability of chemicals and raw materials. This temporary closure was supposed to be two weeks long but lo and behold, on July 24, the suspension was extended for an-

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LATE INFORMATION TO PSX LED TO A BOOST IN SHARE PRICE OF REFINER BY 1.81% PROFIT

News Desk

Attock Refinery Limited (PSX: ATRL), the only refinery in the north of Pakistan, announced the shutdown of two of its units due to low product lifting by oil marketing companies (OMCs) resulting in high petrol and highspeed diesel stocks.

ATRL informed the Pakistan Stock Exchange (PSX) through a notice on Tuesday that the dispatch pattern for the current month (December) had continued to remain depressed, as a result, stocks of Premier Motor Gasoline (Petrol) and High-Speed Diesel (HSL) had reached very high levels with little/no ullage in storage tanks, especially petrol.

“To manage the high stock of these products, we have shut down two of our crude distillation units temporarily to manage refinery operations. Accordingly, we would now be op-

erating at a throughput of about 60%. This, if it continues, will result in curtailment of crude intake from oilfields with adverse effect on associated gas as well,” the notice read.

The refinery said that it had also informed OGRA that surplus inventories of products were available in the market to meet the demands.

It is worth noting that the news of Atock Refinery’s possible shutdown due to higher product stocks and lower lifting by OMCs has been circulating in the media since last week, but the refiner only informed the investors on Tuesday. This led to lowered stock price of the company and after the notification was sent to the PSX, the share price inched up by 1.81% to reach Rs 346.04.

Earlier, ATRL CEO Adil Khattak wrote separate letters to the petroleum minister and the Ogra chairman on December 7 and said that OMCs had been importing more petrol

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PROFIT

The Executive Committee of the National Economic Council (ECNEC) convened on Monday and approved nine diverse projects across various sectors, collectively valued at over Rs371 billion.

The meeting presided over by Caretaker Federal Minister for Finance, Revenue, and Economic Affairs Dr Shamshad Akhtar, witnessed key attendance from officials including Caretaker Minister for Planning, Development, and Special Initiatives Sami Saeed, and Federal Minister for Communications, Railways, and Maritime Affairs Shahid Ashraf Tarar.

Among the approved projects is the Khyber-Pakhtunkhwa Food Security Support Project, designed to address climate vulnerabilities, enhance food security, and uplift rural livelihoods in flood-damaged districts.

The project allocated a total cost of Rs25.098 billion, is slated for implementation over a five-year period in seven districts of

Khyber-Pakhtunkhwa.

Additionally, the ECNEC approved the “Sindh School Rehabilitation Project under the Flood Restoration Program,” amounting to Rs86.080 billion. This initiative aims to reha-

JOINT REVIEW COMMITTEE OF FTA YET TO DISCUSS IMPLEMENTATION STATUS AND ISSUES REGARDING AMENDMENTS ISLAMABAD

Ghulam abbas

Caretaker Minister of Commerce and Industry Gohar Ejaz, who is currently in China, has claimed that the neighbouring country has agreed to revise the existing Free Trade Agreement (FTA) between the two countries, to balance the bilateral trade, which presently is largely in favour of China.

This could be very big news for all those associated with bilateral trade. However, it is not an easy job to “balance” trade with an economic giant like China. So are the claims made by Gohar Ejaz true? To understand the need to amend the FTA, let us first look at why this amendment is required.

WHAT IS AN FTA? FTAs are pacts between two or more countries to facilitate trade by reducing or eliminating tariffs, quotas, and other trade barriers between them.

Pakistan has FTAs with Sri Lanka, China, and Malaysia. Pakistan is also a part of the South Asian Association for Regional Cooperation (SAARC) and has preferential trade agreements with Iran, Indonesia, Turkey, and Mauritius.

The China-Pakistan Free Trade Agreement (CPFTA) was signed in 2006 and came into effect in 2007. It aimed to enhance bilateral trade by eliminating tariffs on a wide range of products over time. Under this agreement, both countries agreed to gradually reduce tariffs on various goods, promot-

READ THIS: ATTOCK REFINERY WARNS OF SHUTDOWN DUE TO LOW PRODUCT LIFTING BY OMCS He urged the government to direct the OMCs to ensure prioritising of local product lifting over imports and other sources like smuggling in ARL’s supply envelope so that the refinery could operate at optimum throughput.

ATRL’s management revealed the sales figures for the last four months which showed that only 38% of petrol and 47% of diesel sold

by OMCs in ARL’s sales envelope was lifted from ARL and the rest was brought in from local or imported sources. ATRL processes 100% of indigenous crude oil from the Khyber Pakhtunkhwa and Potohar regions.

THAR COAL RAILWAY CONNECTIVITY AND PESHAWAR NORTHERN BYPASS PROJECT ARE AMONG PROJECTS; WHEREAS GREATER THAL CANAL PROJECT (PHASE-II) DEFERRED FOR FURTHER REVIEW

Is China really ready to revise its FTA with Pakistan? g

and diesel instead of lifting their allocated quotas from ARL, causing high stocks of these products at the refinery resulting in a loss of Rs 700 million per month.

ECNEC approves nine vital projects valued at Rs371b News Desk

The federal interim cabinet has decided to introduce a sunset clause to the Pakistan Biosafety Rules, 2005/guidelines, to reduce the import bill of genetically modified (GM) soybean and canola seed, which are used for edible oil and poultry feed production in the country.

The decision is being taken after the per year import bill of genetically modified (GM) soybean and canola seed crossed the $1 billion mark.

A sunset clause is a provision that terminates or repeals a law or regulation after a specified period of time unless it is reauthorised by the legislature.

The cabinet has authorised the Ministry of Climate Change and Environmental Coordination to add an appropriate sunset clause, in consultation with the Law and Justice Division, to the proposed amendments in the Pakistan Biosafety Rules, 2005.

The decision was taken in the previous meeting of the cabinet, when the minutes of the Cabinet Committee on Legislative Cases (CCLC) of November 14, 2023 were prepared for ratification.

The amendments in the rules had been proposed on the advice of the Ministry of National Food Security and Research (MNFS&R), which is working on developing a policy to promote local production of edible oil and poultry feed.

The Ministry for National Food Security stated that it was in the process of notifying proper standards in the form of an “Agriculture Bio-Technology Policy” to ensure that reliance on imported food items was minimized.

other 14 days.

On August 16, 2023, the closure was extended for an additional three weeks, and again for another month in September. Then October rolled around, and an already struggling Sitara Peroxide, which we can assume was still nowhere ready to resume production, was dealt yet another unfortunate hand, with the theft of electrical cables.

The company has not been operational for a single month in the current fiscal year and now the Sitara Peroxide’s company profile on the PSX features a bright red sign that reads “DEFAULTER” in all upper-case bold fonts.

Will the company carry this baggage over to the next year or will it make this almost chronic ‘temporary’ closure a permanent one?

Attock Refinery shuts down two units due to low product lifting by OMCs, higher stocks

PROFIT

News Desk

tional between five to six odd months in the last financial year.

According to the company’s financial statements, it defaulted on the installments of long term financing and rental payments of sukuks. The company’s material uncertainty has proven to be a roadblock in production. Consequently, Sitara Peroxide reported a gross loss of Rs 273.4 million and a net loss of Rs 792.8 million in the financial year 2023.

In January 2023, Sitara Peroxide temporarily halted production due to the quickly dwindling production capacity of the plant.

This was due to a series of unfortunate circumstances: from the economic downturn that Pakistan experienced this year, to limited access to raw materials from the nonclearance of L/Cs due to forex shortage, to overdue plant maintenance.

ing trade and economic cooperation amongst each other. The first revised CPFTA, which is known as CPFTA-II was signed in April 2019 and implemented in January 2020. China and Pakistan aimed to reach $15–20 billion in bilateral trade by the completion of the second phase.

PAKISTAN-CHINA BILATERAL TRADE ANALYSIS The total trade between the two countries in FY22 was $23.934 billion, of which $20.84 billion was imported by Pakistan, leaving Pakistan with a trade balance of -$17.74 billion.

Similarly, of the $14.31 billion traded between Pakistan and China in 2022-23, Pakistan imported $11.702 billion. And despite the danger of another balance of payments crisis, more than 80% of the bilateral trade between Pakistan and China in FY24 (Jul-Nov) has been imported by Pakistan.

Despite a decrease in total imports due to administrative controls, the trade deficit has largely been around 80% of the total trade in the past three years.

Amongst the products exported to China in the current fiscal year, cotton yarn, thread, refined copper and other ores like chromium take the lead. Meanwhile the top items that China has exported to Pakistan during the same period are smartphones, telephones and other semiconductor devices.

WHAT IS WRONG WITH CPFTA? In the existing bilateral trade agreement, China granted Pakistan the opportunity to

export over 1,000 products with zero duties.

China ranks as the second-largest destination for Pakistani goods, accounting for 8% of its total exports, following the United States with a 17% share. However, the concerning issue lies in the substantial growth of Pakistan’s imports from China, leading to a ballooning trade deficit.

Pakistan is currently grappling with maintaining financial equilibrium due to an imbalance between imports and exports, significantly impacting the country’s overall economic well-being. The pressing concern remains how to rectify this trade imbalance amidst existing Free Trade Agreements (FTAs) and how to maximise value from the country’s trading partners.

Pakistani products face challenges competing against local Chinese items and those sourced from other regions sent to China.

Changing the current course, with the market constantly flooded with cheaper Chinese alternatives, becomes much more difficult for local manufacturers. Pakistani manufacturers and exporters would need to embrace modern techniques to enhance exports to partner countries and tackle the overarching trade imbalance in the longer-run.

IMPACT ON PAKISTAN’S ECONOMY The FTA, over the years, has led to a substantial trade deficit between the two countries. Following the FTA, Pakistan witnessed a surge in imports from China while experiencing only nominal growth in exports. The trade deficit skyrocketed, reaching alarming

levels and significantly contributing to currency depreciation.

The resultant currency devaluation triggered various economic issues, including increased outflows, reduced foreign investor confidence, and escalated opportunities for local investors to seek safer investments abroad. Pakistan struggled to capitalise on the Chinese market due to several reasons, including inadequate concessions for potential exports, a non-innovative export approach, and limited tariff exemptions on products with high export potential.

Local small and medium-sized enterprises (SMEs) faced challenges as they were unable to compete with Chinese products, leading to reduced market share. Industries like ceramics, electrical and medical equipment, chipboard, and plywood were particularly affected due to the influx of cheaper Chinese imports.

Subsequent favourable FTAs signed by China with ASEAN countries further eroded Pakistan’s margin of preference in key export items like cotton and rice, particularly impacting East Asian markets like Vietnam.

Pakistan’s export potential was limited and Pakistan couldn’t keep up, especially in textiles, where China already dominated.

IS THERE A REVISION? While the caretaker minister claims that the Chinese government has already agreed to changing FTA’s terms, an official source in the Ministry of Commerce, informed Profit that the only development on the issue is that

bilitate 1,607 schools severely affected by rain and flood in five districts of Sindh.

The Khyber-Pakhtunkhwa Human Capital Investment Project, with a total cost of Rs32.834 billion, received the ECNEC’s nod for the reconstruction of 1,165 damaged schools in 13 districts of KP. The Prime Minister’s Laptop Scheme, aimed at enhancing educational opportunities, secured approval at Rs16.801.23 billion.

The ECNEC also approved projects focusing on health, infrastructure, and financial inclusion, including the Women Inclusive Finance initiative at a total cost of Rs31.413 billion.

The Thar Coal Railway Connectivity and the Peshawar Northern Bypass Project were among the projects sanctioned to boost connectivity and infrastructure development.

The ECNEC deferred the Greater Thal Canal Project (Phase-II) for further review, and it gave the green light to the Sindh Barrage Improvement Project (Phase-II) with a total cost of Rs74.618 billion. a joint review committee of the CPFTA has agreed to meet soon to discuss and review the implementation status of FTA as well as any issue/suggestion from both countries.

Interestingly, he categorically denied that the FTA was being revised. It may be revised but that depends entirely upon the outcome of the review committee.

It was claimed that since the revised FTA, also known as the CPFTA-II is also largely benefitting China in terms of trade, the ministry of commerce here is trying to convince the Chinese side to consider a few amendments in the FTA to ensure addressing concerns of domestic industry, which has faced damages due to the free trade pacts.

But that too is a long way to go as any amendment and changes in the FTA go through a detailed review and analysis in both countries. This can be assessed by the fact that the first revision of the FTA became possible after almost 14 years of the signing of the agreement. As per Dr Vaqar Ahmad of Sustainable Development Policy Institute (SDPI), revising an FTA is not an easy job.

The amount of homework that has been done to convince the Chinese side for the revision of the FTA is still not clear but it would still be a shot in the dark to say that amendments that will be significantly in the favour of Pakistan have been agreed upon.

Since the major reason for lower exports is the shutdown of the manufacturing industry in the country, even if the FTA is revised the situation will not be improved.

According to media reports, Gohar Ejaz claims that Pakistan has formally requested China to invest the Chinese Yuan equivalent of $5 billion to relocate a portion of its manufacturing companies to Pakistan.

He also said that Pakistan has proposed to shift bilateral trade to Chinese Yuan, decreasing the reliance upon US dollars.

NEWS 03

LHC RESERVES DECISION ON PTI’S PLEA AGAINST ECP APPOINTMENTS

Wedneday, 13 December, 2023 | KARACHI

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LAHORE

Staff RepoRt

HE Lahore High Court(LHC) on Tuesday reserved a decision on a plea by Pakistan Tehreek-e-Insaf (PTI) challenging the appointment procedure of the officials from bureaucracy for general election duties.

Petitioner barrister Umair Khan Niazi, PTI’s additional secretary general and focal person on legal affairs to former chairman Imran Khan and the PTI, had challenged appointments of district returning officers (DROs), returning officers (ROs) and assistant returning officers (AROs), claiming that general elections could not be conducted transparently, fairly and freely in the presence of these officers from the branch of State.

The court, presided by Justice Ali Baqar Najafi, was requested that the Election Commission of Pakistan (ECP) be directed to initiate a consultation process with LHC’s chief justice for the appointment of judicial officers as DROs and ROs under Sections 50 and 51 of the Elections Act 2017 for the polls in 2024.

It was further prayed to the court to restrain the ECP, during the pendency of this plea, from appointing these officers from the executive authorities of the government.

Today, Justice Najafi after hearing de-

Lack of fire safety system exacerbated fire at RJ Mall: Report

tailed arguments reserved the decision, while the law officer strongly opposed the contentions of the petitioner’s counsel, requesting the court to dismiss the petition.

ECP’s counsel further requested the court to dismiss this plea as non-maintainable. The judiciary was also requested for the judicial officers but then it was denied, the counsel contended to the court.

On the other hand, the petitioner’s counsel implored the court that although the announcement of the elections has resuscitated the hope of survival of democracy and democratic values in Pakistan, it is difficult to gloss over the fact that the general elections 2024 will be held beyond the constitutionally mandated period.

It was further stated the national mood, regarding the much-anticipated elections, is of scepticism and is refraining from jubilation and maintained that these elections will be held amidst the worst crackdown in our national history on the civil liberties and constitutional protections of the citizens of Pakistan.

Barrister Niazi implored the court that PTI, the largest and most popular party in Pakistan, has been a victim of discrimination as well as deliberated schemes of the caretaker governments in both the federal and province to suppress the democratic and nationalist spirit of PTI and its supporters.

He further contended that in Punjab, the

KARACHI

Staff RepoRt

The investigation committee constituted in the aftermath of the tragic fire incident at a shopping mall on Rashid Minhas Road 18 days ago, on Tuesday released its findings.

According to the committee’s findings, the fire erupted due to electric short circuiting in the shopping mall, with its intensity exacerbated by substandard electrical installations and false ceiling work. The cafeteria on the fourth floor served as the initial ignition point. The absence of adequate fire exits and riot control equipment contributed to extensive damage. Notably, the building lacked a completion certificate, and the Faisal Cantonment Board failed to ensure the presence of a fire safety system. The sealing of the lift on the fourth floor was attributed to air conditioning concerns, and the building did not comply with the requirement of an automatic fire safety system. The report places responsibility on the building owner, management, and the AI Foundation for the damages incurred, recommending legal action against them.

Crucially, the builder handed over the building to vendors without securing a completion certificate. The report advocates for compensation to be provided to those injured or killed in the incident in accordance with the law. Police sources indicate that DIG East Ghulam Azfar Mahesar has forwarded the investigation report to Additional IG Karachi. It is noteworthy that the devastating fire incident on November 25 claimed the lives of 11 individuals in RJ Shopping Mall.

caretaker Chief Minister Mohsin Naqvi has influenced the bureaucracy against PTI, its leaders and political workers as well as the official orders/statements issued on social media adding that bias and the will to eliminate the party from the political landscape of Punjab has been clearly demonstrated.

The counsel further claimed that the federal government has treated the party with equal heavy-handedness.

“Ever since the regime change and more particularly the appointment of caretaker governments in Punjab and the federation, PTI has been at the receiving end of the worst form of political victimization and persecution and that too is state-sponsored.

The caretaker governments have grossly abused the executive power to prosecute and arrest to engineer the political landscape of the country,” the lawyer protested. “There is a concerted attempt to annihilate the PTI as a political party”, he argued.

Barrister Niazi further said that the large-scale operations against PTI in the last few months have resulted in the arrests of hundreds of political workers associated with PTI including women and senior citizens in successive frivolous criminal cases.

“The caretaker governments have made frequent transfer postings in the bureaucracy. The Elections Act 2017 places an express restriction on the transfer-postings of the officers but the governments have reck-

SBP maintains policy rate at 22%, in line with market expectations CONTINUED FROM PAGE 01

The MPC noted that the higher-than-expected increase in gas prices contributed 3.2 percentage points to the 29.2%yearon-year inflation in November 2023.

Moreover, core inflation, which removes volatile factors such as food and energy prices when measuring inflation, remained sticky at 21.5% during the month, slightly lower from its peak of 22.7% in May 2023. Inflation expectations of both consumers and businesses, though improving in recent months, remain at an elevated level and is coming down gradually.

The MPC continues to expect that headline inflation will decline significantly in the second half of the fiscal year 2024 due to contained aggregate demand, easing supply constraints, moderation in international commodity prices and favourable base effect.

The SBP’s stance regarding inflation is in line with analyst expectations.

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

Both Arif Habib Limited and Topline Securities expect average an-

nual inflation in fiscal year 2024 to remain between 23-24%, compared to 29.2% in fiscal year 2023.

STRENGTHENING ECONOMY Looking at the economy, the MPC expects a moderate recovery in real GDP for fiscal year 2024. The agriculture and manufacturing sectors showed improvement, while the services sector remained sluggish. There was a positive shift in the current account balance, with reduced deficit and increased exports, especially of food items like rice.

The current account deficit narrowed by 65.9% year on year to $1.1 billion during the first quarter of fiscal year 2024.

Further, workers’ remittances also improved in October and November 2023 as compared to the corresponding months last year. Despite these positive indicators, there have been modest official inflows since July, and ongoing debt repayments have affected the SBP’s foreign exchange reserves. The successful completion of the IMF program’s first review is expected to bolster financial inflows and FX reserves. The IMF will release a tranche of $700 million in January 2023. The SBP governor Jameel Ahmed stated that they will ensure that the Net Domestic Assets (NDA) and Net Foreign Assets (NFA) targets for December 2023 are met.

The IMF expects Pakistan’s foreign exchange reserves to reach $9 billion

by June 2024. However, the IMF’s detailed country report will be released after the board meeting in January 2024, where revised numbers may be provided.

Fiscal indicators show positive growth in tax and non-tax revenues, emphasising the need to sustain fiscal consolidation for macroeconomic stability by broadening the tax base and restraining unnecessary expenditures.

SBP released a profit of Rs 972 billion to the government for fiscal year 2023 compared to Rs 371 billion in fiscal year 2022. Ahmed highlighted that fiscal year 2024 will be higher than fiscal year 2023 which will support fiscal operations.

The governor stated that the total external financing requirement for fiscal year 2024 is $24.6 billion out of which $5.4 billion has already been paid. According to him, SBP estimates rollovers worth $12.4 billion of which $9 billion have already been committed. The net principal payable in fiscal year 2024 stands at $4.3 billion.

Finally, the governor highlighted that the decision to reduce the policy rate will be data-driven, based on factors such as inflation and the rupee’s movement.

CONTINUED FROM PAGE 01

“The terrorists would never succeed in their heinous crimes,” Bugti stated and reiterated that the “entire nation stands shoulder to shoulder with the security forces in their war against terrorism”. Hailing the martyrs as the real heroes, the interior minister said the sacrifices of the security forces would never go in vain. He stated that the entire world recognises the unparalleled sacrifices of Pakistan’s security forces in the war against terrorism. The district of DI Khan has seen an uptick in terror attacks in recent weeks.

27 TERRORISTS KILLED IN TWO IBOS IN DI KHAN: The military’s media wing said the night of December 11/12 witnessed “heightened activities” in the district and a total of 27 terrorists were killed.

An intelligence-based operation (IBO) was conducted in the districts’s Darazinda area.

During the operation, a hideout of terrorists was found and 17 terrorists were killed.

In another IBO in the general area of Kulachi, the ISPR said troops engaged a terrorist location and four militants were killed.

However, two soldiers were martyred in the exchange of fire with the terrorists. “The killed terrorists were actively involved in numerous terrorist activities against security forces as well as killing of innocent civilians. Weapons, ammunition and explosives were also recovered during the operations.”

Earlier, a bomb blast targeting police killed six people in the district. The bomb exploded close to the route of a police patrol in the city, said police official Mohammad Adnan.

Six people were killed and 21 injured in the blast, said rescue official Aizaz Mehmood, but he was not able to provide a break-up of police and civilians.

According to the preliminary investigation, a motorcycle installed with explosive materials was used in the blast. People who died in the blast were between the ages of 15 years to 20 years.

Earthquake hits parts of Khyber Pakhtunkhwa PESHAWAR

Staff RepoRt

Earthquake tremors jolted parts of Khyber Pakhtunkhwa (KP) on Tuesday. According to the seismological center, the earthquake tremors were felt in Swat, Mingora, Lower Pir, Upper Dir and adjoining areas. People came out of their houses in fear by reciting Kalma-eTayyaba. However, no loss of life or damage to property was reported from any part of KP as per the initial reports. On November, an earthquake of 3.3 magnitude on the Richter scale jolted Gilgit and its adjoining areas. The National Seismic Monitoring Centre (NSMC) confirmed that tremors were felt in Gilgit and the adjoining areas. However, no loss of life or damage to property was reported from anywhere so far. According to NSMC Islamabad, the depth of the quake was recorded at 45 kilometers and the epicenter was 84 kilometers in the North West. Last month, a mild earthquake of 3.1 magnitude on the Richter Scale jolted different areas of Karachi – the capital of Sindh province.

Chinese geophysicist elected as member of Pakistan Academy of Sciences ISLAMABAD

Staff RepoRt

Pakistan Academy of Sciences (PAS) announced its list of newly elected foreign academicians.

Among them, Lin Jian, distinguished researcher at the South China Sea Institute of Oceanology of the Chinese Academy of Sciences and director of the Key Laboratory of Ocean and Marginal Sea Geology, was elected for his outstanding achievements in the field of global earth sciences. He was honoured also because of his contributions to scientific and technological cooperation between China and Pakistan.

Pakistan seeks stronger relations with China: Ambassador Hashmi ISLAMABAD

Staff RepoRt

Pakistan’s desire for stronger ties with China reflects the mutual benefits and shared interests that exist between the two nations.

This strategic partnership encompasses various areas such as economic cooperation, infrastructure development, renewable energy, and cultural exchanges, said Pakistani Ambassador to China Khalil Hashmi.

In an exclusive interview with China Economic Net, Hashmi elaborated on the flourishing China-Pakistan Economic Corridor (CPEC) and Belt & Road Initiative (BRI), emphasizing the need for enhanced industrial cooperation, trade, and investment between the two nations.

The Ambassador identified the key areas of focus, including agriculture, information technology, livelihood, and green development, aligning with the priorities outlined during Chinese Vice Premier He Lifeng’s recent visit to Pakistan from July 30 to August 1, 2023.

“We need to quickly improve our productive capacity because the Phase-1 of CPEC was primarily to develop infrastructure and energy.

In terms of the next phase of CPEC, it is the establishment of five corridors, the corridor of growth, innovation, green

lessly disregarded this statutory test”, he remarked and added that Sections 50(1)(b) and 51 (1) of the Elections Act 2017 stipulate that the Election Commission shall appoint DROs, ROs by the selection from the government officers in violation of Article 218 (3) of the Constitution which is liable to be declared unconstitutional.

He argued that it is a matter of record that bureaucracy is susceptible to executive interference by the government, and lacks functional autonomy and institutional security of tenure in terms of postings as well as transfers. “The provisions in the Elections Act mandating the appointment of executive officers as DROs and Ros amount to sanctioning executive interference by the government in the electoral process rendering the same to be violative of Article 218 (3) of the Constitution and liable to be struck down,” he protested.

“As the list of executive officers for appointment is to be provided by the government essence the government has a direct and far more important role in the appointment of DROs”, he maintained.

He reiterated that this renders the impugned Section 50(1)(b) of Elections Act 2017 to the extent of the expression “list of offices provided by the government or a provincial government” is liable to be struck down for violating Article 220 read with Article 218 of the Constitution.

23 soldiers martyred, 27 terrorists killed in DI Khan terrorist attack: ISPR

development, livelihoods, and inclusiveness. These are all areas which are in alignment with our priorities”, he stated.

Talking with CEN Khalil Hashmi said that the recent trade protocols signed between China and Pakistan opened up around $30 billion market for Pakistan, covering items such as heated beef, dried chili, Pakistani dairy products, and animal skins.

The Ambassador commended China’s efforts for creating & enabling conditions for trade, including regulatory adjustments and the provision of dedicated officers in the Chinese embassy to assist Pakistani exporters. “We spent a lot of effort organizing a very successful agriculture exhibition in Pakistan, in which many Chinese and

He served as the chief scientist of the IODP drilling expeditions in the South China Sea and participated in over twenty international oceanographic expeditions to the Pacific, Indian, and Atlantic oceans. Additionally, he led the first China-Pakistan joint Indian Ocean expedition, according to a report carried by Gwadar Pro on Tuesday.

During his tenure as Deputy Director of the China-Pakistan Earth Science Research Center and head of the Marine Sub-Center, Lin has made significant contributions to the advancement of earth sciences, academic exchanges, personnel training, and the development of Pakistan’s marine industry. In collaboration with the National Institute of Oceanography Pakistan, Lin and his team developed the

Pakistani companies and individuals participated.

B2B exchanges are another tool to promote bilateral trade,” Hashmi mentioned. Addressing Pakistan’s commitment to green and sustainable development, the Ambassador outlined the nation’s efforts in the renewable energy sector. He highlighted projects such as hydroelectric power generation and collaborations with China to expand solar energy capacity. The Ambassador stressed the importance of international support and financing to achieve these ambitious goals.

As for RMB settlement in ChinaPakistan trade and how to strengthen cooperation in banking and financial industries between the two countries, he said the currency swap that Pakistan has with China is very positive for trade settlement. “We are looking to enhancing trade cooperation in RMB in the future.

Other than that, in terms of enhancing financial banking relationships, the key is to have more cooperation.

Our banks are present in China and Chinese banks are present in Pakistan.

We are working on digital banking payments and also other online means to promote financial cooperation between our two countries, allowing companies and individuals to do their transactions online securely and productively”, he added.

most accurate Mokran Trench earthquake and tsunami model to assess the seismic stress state and tsunami risk in the coastal areas of Pakistan. For the first time, Lin’s team has developed a detailed seismic wave velocity model of the crust and upper mantle across the Mokran Trench.

They have also systematically calculated key parameters such as potential wave height, invasion depth, and spatial distribution of tsunamis in Gwadar port. This work provides an important scientific foundation for local disaster prevention and mitigation. It is reported that PAS elects no more than three foreign academicians each year. So far, it has nominated a total of 34 foreign academics, including Chinese physicist Ding Zhaozhong and chemist Bai Chunli.

Gilgit-Baltistan delegation explores Agri Tech cooperation in Gansu Province

BEIJING

Staff RepoRt

A delegation of government officials and agricultural experts from Gilgit-Baltistan Province visited Lanzhou, China.

They conducted visits to local enterprises and held exchange meetings to explore cooperation potentials. During their visit to Jinkefeng Company, a subsidiary of the Gansu Academy of Mechanical Science, the Pakistani delegation toured the production base and gained comprehensive knowledge about the company’s flagship products and their wide applications in agricultural production.

The company also demonstrated the complete operational model of silage harvesting equipment that they plan to showcase and promote in Pakistan, which sparked great interest among the delegation members.

Subsequently, detailed discussions were held on future cooperation models and specific plans, resulting in a series of agreements. According to

Gwadar Pro, the delegation expressed their anticipation for substantial cooperation with Jinkefeng Company in agricultural equipment, aiming to drive the modernization of agriculture in Pakistan.

“The similarities in geography and weather between Gansu and Gilgit-Baltistan will make the cooperation particularly potential. The adoption of modern farming practices can effectively improve agricultural production,” said a delegate member of the GB agriculture department.

“In the future, we will continue to increase our investment in cooperation with Pakistan, enhancing product quality and technological capabilities.

Additionally, we will strive to promote the widespread adoption and implementation of silage equipment in Pakistan,” said head of Jinkefeng Company. After the exchange, a Memorandum of Understanding (MoU) was signed to transfer agriculture technology and machinery to GilgitBaltistan. The collaboration seeks to jointly explore new opportunities for the development of silage processing and the livestock industry.”

04 COMMENT

Ukraine’s Day of Reckoning

Wednesday, 13 December 2023

Dera Ismail Khan operation

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HE recent incidents, which have left more than 50 dead on both sides, show that militancy is far from under control.

The worst incident in Dera Ismail Khan took place in Daraban, where six militants attacked a military checkpost with an explosives-laden truck. All six militants were killed, but so were 23 soldiers. Two more soldiers were killed in the Kulachi area, while four militants were killed, while 17 militants were killed in the Darazinda area in an intelligence-based operation. Significantly, the Foreign Office then called in the Afghan chargé to issue a démarche. Considering that responsibility for the Daraban attack was claimed by the Tehrik Jihad Pakistan, though it is affiliated to the Tehrik Taliban Pakistan, this is a doubly major development, implicitly blaming the Afghan Taliban for giving the TTP a safe haven, and representing the first time that Pakistan has so overtly accused the Taliban of complicity in the increase in militancy.

The Taliban taking over once again in Kabul has not brought down the militancy in Pakistan. An operation against militancy was conducted, a multi-division operation commanded by lieutenant general. It was claimed that the militants had been uprooted, but that seems not to have been the case. The next step would be that of the spread of terror throughout the country, rather than the relatively limited portion of KP to which it seems confined for the time being. Are we heading towards another large-scale Army operation, perhaps corps-level, like the last one. However, before there is any such exercise, it needs to asked whether that exercise will lead to the elimination of militancy, or is the country to be condemned to resurgences of militancy and periodic operations to beat it back?

With elections around the corner, it would be advisable if the new government is allowed not just participation, but to take actual ownership and implement a policy backed by the nation, rather than fobbed off with a pat on the head by those who claim to be experts, but whose monopoly over policymaking does not seem to have solved the national interest. It cannot escape notice that the militant attacks have coincided with the caretaker government’s efforts to send Afghan refugees back home.

This is not just a human issue, but economic interests, in foreign currency and other smuggling, and the drug trade, are also involved. All of this demands more commitment from both federal and provincial governments, more than is possible from caretakers who have overstayed their constitutional tenure.

Support for Ukraine is falling

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Washington Watch Dr James J Zogby

T’S been more than two months since Ukraine was front-page news in the US press. It had become an old story and was being displaced by the horrors unfolding daily in Gaza. This past week, however, Ukraine came back into the headlines not so much for changing developments in the war but because the US Congress baulked at approving the Biden Administration’s request for an additional $61 billion in funding to resupply Ukraine’s dwindling weapons’ arsenal.

Congress’ hesitation in acting on this matter is born of a number of factors. Some lawmakers didn’t support the war from the outset and now see it as a two-year-old deadly stalemate. There are partisan concerns as well. Some Republicans, for example, see the urgency behind President Biden’s Ukraine aid request as an opportunity to use this issue as leverage to push for increased funding to “secure the southern US border.” Other Republicans have sought to tie approving Ukraine aid to cuts in domestic spending, while some Democrats have argued that the funds should be reallocated to prioritize increases in some of the very same domestic programmes Republicans want to cut.

The internal GOP friction caused by how best to deal with Biden’s aid request has already toppled one Republican from his post as Speaker of the House and is now causing headaches for his successor. How this will end is uncertain, but what’s clear is that there are vocal minorities in both congressional delegations who are not on board with continued funding for the war in Ukraine.

To some extent, this reticence among lawmakers reflects US public opinion on how best to deal with the Russian invasion of Ukraine. In October Zogby Research Services conducted a survey of attitudes toward the war in Ukraine in seven European countries and the USA. In most countries we found a growing weariness with the costs of the war and a desire to see it come to a negotiated end.

In the USA, one in five respondents see the USA as the main party responsible for the war as well as

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

Yousaf Nizami Editor Umar Aziz M. A. Niazi

the major obstacle to peace between Ukraine and Russia. This view is shared by equal numbers of Democrats and Republicans. At the same time, seven in 10 Americans agree that the costs of the war are concerning and believe that a compromise should be found to end it. This is the position of three-quarters of Republicans and six in 10 Democrats. It’s also worth noting that a plurality of Republicans now see the war as having weakened the USA on the world stage.

Opponents of continued US funding argue that European countries should step up and foot the bill for Ukraine. This ignores important political changes that are unfolding across the European continent. In the first place, there is no combination of European countries with the resources to match the level of funding the USA has been providing to support Ukraine. In several European countries there is also a growing rightward-leaning populist current that has a strong nativist and isolationist bent. As such, European support for increasing arms shipments and aid to Ukraine has declined.

While the ZRS poll shows that three-quarters of Europeans continue to hold Russia responsible for the war and support sanctions against that country, the increases in cost of living and, in particular, the cost of energy brought on by this war and the sanctions against Russia, have taken a toll on European opinion. Eight in 10 now say that the increase in the cost of living is their greatest concern with this war. The same percentage now say that costs of continuing the war are too high and a compromise should be found to save lives and resources.

Despite the fact that US opinion is divided on continuing this war and Europe is increasingly questioning its costs, President Biden has doubled down on elevating his support for Ukraine and Israel as his administration’s signature foreign policy issues. In a piece the President authored a few weeks ago he attempted to tie together the wars against Putin and Hamas as defining battles of our generation. Biden cloaked himself with a neoconservative mantle, channeling Ronald Reagan confronting the Evil Empire and George W. Bush challenging his invented Axis

Addressing state-sponsored terrorism: Evaluating the role of FATF and India’s actions Joint Editor

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Executive Editor

Why isn’t FATF acting? asaD ali

HE Financial Action Task Force (FATF) is an international organization with the primary objectives of establishing standards and fostering effective implementation of legal, regulatory, and operational measures to combat money laundering, terrorist financing, and other threats to the integrity of the global financial system.

Functioning as a “policy-making body,” the FATF plays a crucial role in encouraging political will among member countries to enact legislative and regulatory reforms in these critical areas. The organization monitors the progress of its recommendations through peer reviews, known as mutual evaluations.

However, recent developments suggest that the FATF may be overlooking instances of governments engaging in rogue behavior and utilizing intelligence agencies and death squads to achieve geopolitical objectives through acts of terrorism.

Light must be on India’s actions, particularly its state-sponsored terrorism and the use of death squads, raising concerns about the need for the FATF to expand its focus to address such issues and implement stringent measures.

At the domestic level, India has been accused of unleashing a genocidal reign of terror in Indian Occupied Kashmir. Draconian laws providing unlimited powers to security forces have subjected the Muslim-majority region to state-sponsored terrorism. The Sikh movement for an independent Khalistan and Christian communities in Manipur have also faced harsh suppression. The current BJP government’s majoritarian policies, xenophobic legislation, and the brutality of state institutions have led to widespread terrorization of minorities, including Dalits and others.

Regionally, Pakistan bears the brunt of India’s actions, with its intelligence agency RAW being accused of supporting terrorist groups in Afghanistan and Iran. These groups, including ISK, TTP, ETIM and Baloch dissident groups like BLA, have been allegedly sponsored and controlled by RAW to further India’s strategic interests against Pakistan and China’s BRI-CPEC. The complicity of the Afghan regime and the capture of a serving Indian Navy officer, Kulbhushan Yadav, in Balochistan, further highlight the gravity of India’s state-sponsored terrorism.

A disturbing trend involves the use of death squads by the Indian government and RAW to eliminate political opponents and spread terror among those opposing them.

These death squads, with a global reach, specifically target Kashmiri and Sikh individuals supporting freedom movements in Indian

Occupied Kashmir and Indian Punjab (Khalistan). Assassinations have been reported in Pakistan, UK, Canada, Middle East and even an attempted murder in the USA. The audacious and sustained nature of RAW’s death squad strategy demands immediate attention.

Despite widespread allegations and evidence of India’s involvement in state-sponsored terrorism and the use of death squads, the international response has been slow. The FATF, as a key player in establishing global standards, needs to address this aspect of international terrorism promptly. Instituting unimpeachable policies, measures, firewalls, checks, and balances is crucial to holding governments accountable for sponsoring, maintaining, and financing terrorist groups, as well as launching death squads domestically and internationally.

The RSS-sponsored Hindutva-inspired BJP government of India emerges as a prime candidate for scrutiny in this regard. A comprehensive study should be conducted to draw relevant conclusions and implement effective oversight and control over the spread of state-sponsored domestic and international terrorism, including the use of death squads. India’s geopolitical positioning, particularly its alignment with the USled West, should not shield it from accountability.

The FATF must play a central role in scrutinizing countries engaging in state-sponsored terrorism. Peer reviews should not only focus on traditional financial measures but also include an assessment of each country’s involvement in supporting terrorist activities and death squads. The Black and Grey Lists maintained by the FATF should be expanded to cover these aspects, holding countries accountable for their ruthless campaigns of state-sponsored international terrorism.

As state-sponsored terrorism and the use of death squads become increasingly prevalent, it is imperative for international organizations like the FATF to adapt and broaden their scope of evaluation. The case of India, with its alleged involvement in such activities, underscores the urgency for the FATF to institute measures that address not only financial aspects but also the broader implications of state-sponsored terrorism. A proactive stance by the FATF will contribute to a more secure and peaceful world order, ensuring that countries are held accountable for their actions in the face of evolving geopolitical challenges.

The writer is Islamabad based expert of Strategic Affairs and can be reached at asadmalik2008@gmail.com

The FATF must play a central role in scrutinizing countries engaging in state-sponsored terrorism. Peer reviews should not only focus on traditional financial measures but also include an assessment of each countryÊs involvement in supporting terrorist activities and death squads. The Black and Grey Lists maintained by the FATF should be expanded to cover these aspects, holding countries accountable for their ruthless campaigns of state-sponsored international terrorism.

Lahore – Ph: 042-36300938, 042-36375965

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Islamabad – Ph: 051-2204545

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Hamas is not Russia and Israel is not Ukraine. Neither of them poses the existential challenge to the West that was once posed by the USSR. And while both are involved in wars, Russia is the occupier and aggressor in Ukraine, but Israel is the occupier and aggressor in Gaza

of Evil. America is the force of good in the world facing down the forces of evil in a battle that must be won for the future of humanity to be secure.

This formulation is questionable on many levels.

Hamas is not Russia and Israel is not Ukraine. Neither of them poses the existential challenge to the West that was once posed by the USSR. And while both are involved in wars, Russia is the occupier and aggressor in Ukraine, but Israel is the occupier and aggressor in Gaza.

The bottom line is that there is a growing body of opinion in Europe and the US questioning the wisdom of having Ukraine be yet another “war without end.” This poses a challenge not only for Ukraine, but for the Biden Administration. By removing Ukraine from the headlines for a few months, the war in Gaza delayed Congress and the White House having to make tough decisions about the future. But with budget matters needing to come to a conclusion by year’s end, the day of reckoning is at hand.

The writer is President, Arab American Institute.

Editor’s mail

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

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

Targetting ‘outsiders’

REGARDLESS of how vigilant one might remain against the tricksters, the swindlers always seem to be a step ahead of the rest, evolving their ‘techniques’ to grab their prey. One such ‘technique’ is to ‘professionally’ identify an outsider who may be new to the city.

The street criminals in Hyderabad’s Qasimabad area appear to have taken a lead in this regard. Recently, my brother was stripped of whatever valuables he had in his pocket at the time. Upon reaching Qasimabad area, two individuals approached him and engaged him in unnecessary conversation. One asked him the address of, say, ‘Pakora’ Chowk, while the other started frisking his pockets, leaving them empty. My brother could not utter a single word owing to the fear that the muggers might be armed and may harm him in case he resisted. The culprits took away Rs10,000 and my brother’s ATM cards. Just a few days earlier, two of my cousins happened to be in the same area for taking tuition classes and they suffered a similar fate at the hands of another set of muggers. I know of two other individuals who have faced similar incidents. The one thing common among all these victims is that they happened to be new to the city, having come to Hyderabad for various purposes. We have come to Hyderabad from other cities in search of livelihood and educational opportunities, not to be the targets of such brazen crimes. We, like many others who come here for studying and finding a livelihood, landed in Hyderabad to study without knowing one bit that we could be the prime target of muggers and street criminals because they have ‘mastered’ the art of identifying the outsiders.

ZAINAB ALI HYDERABAD

Sibi loadshedding

SIBI in Balochistan is known for its blistering summers. The prickly summer season affects business to the extent that the city gives a haunted look during summers, as anyone who can afford simply leaves for Quetta, the provincial capital where the summer is at least bearable. For those who stay back in Sibi, the summers are made worse by frequent and prolonged loadshedding.

Those who happen to have government employment of any kind cannot leave the city for a variety of reasons even if they are in Sibi on transfer or deputation. For them, life during summers becomes one big punishment.

The menace of loadshedding also affects water supply, which earlier used to be uninterrupted, but now the taps remain dry. This naturally is a boon for the water tanker mafia which is minting money these days. The shortage of water supply, as one may well imagine, has made survival during the sweltering summers a Herculean task.

The people have been left to fend for themselves. They have to pay money to get water, and they have to invest in solar panels, UPSs and generators to make alternative arrangements for power supply. Is it fair?

SUMMEYA KHAN SIBI

Mushrooming eateries

ACCORDING to the International Diabetes Federation (IDF), Pakistan is the country with the third highest number of diabetics. Currently, 33 million people are living with this disease. Indeed, scientific research has proven that dietary habits and diabetes do have a direct correlation. After much deliberation, the Sindh government had enacted the Sindh Food Authority Act in 2017 which paved the way for the establishment of the Sindh Food Authority (SFA). But after five years of the establishment of the authority, things have not changed one bit. Substandard eateries have seen an abrupt increase in these years rather than being regulated and prevented by the said authority. The SFA should start doing what it was established to do.

UMER SAJJAD KARACHI

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

75 years of struggle for rights in Kashmir Wednesday, 13 December 2023

UDHR anniversary mean

I

dR gul.i.ayesha bhatti

NTERNATIONAL conventions impact inter- and intra-state relations by establishing universal principles to govern and control the interactions among states. Within this framework, freedom, independence, and the entitlement to self-determination are fundamental ethical, legal, and universally acknowledged values and norms that states endeavor to attain and uphold as inherent rights of every human being.

On this December 10, the 75th anniversary of the Universal Declaration of Human Rights(UDHR), the Indian government has regrettably refused the fundamental rights of the people residing in Indian Occupied Jammu and Kashmir for the past seven decades. The Kashmir conflict is a territorial dispute between India and Pakistan, which also serves as a prominent illustration of human rights violations perpetrated by the Indian government. This longstanding issue has intensified significantly following the revocation of Articles 370 and 35A from the Indian constitution in August 2019.

UDHR is universally acknowledged and embraced by states that have incorporated its principles into their constitutions to ensure its implementation. The declaration consists of 30 articles that guarantee inalienable rights, encompassing a wide range of fundamental rights such as survival, movement, free speech, as well as rights to liberty, security, and protection under the law.

The UN released its 2018 report on Kashmir, highlighting that the state of Jammu and Kashmir has significant human rights issues, specifically about impunity for human rights abuses and limited access to justice. The implementation of specific laws, including the Jammu and Kashmir Public Safety Act (1978) and the Armed Forces (Jammu and Kashmir) Special Powers Act (1990), has established structures that hinder the admin-

istration of justice, undermine accountability, and compromise the right to redress for individuals who have been subjected to human rights violations. The UN report 2019 on Kashmir has shown similar observations.

UN Resolution 47 on Kashmir has employed the term ‘dispute’ to refer to the status of the Kashmir area.

It should be noted that the Line of Control is not acknowledged as an international border. Instead, this 450mile-long demarcation is regarded as a military boundary that separates Indian Occupied Jammu and Kashmir from Azad Kashmir. UNSCR 47 has provided Kashmir with the right of self-determination in 1948 that has been confiscated by India till date and violates UDHR Article 1, related to freedom of all people at all times and in all places.

A significant number of casualties is indicative of the utilization of force, aggression, and coercion by the Indian forces towards the local people in the Valley.

Media reports indicate that the number of fatalities in Indian Occupied Jammu and Kashmir stands at over 68,000. According to a recent report by a Kashmiri activist, the number of civilian deaths has risen by 200 percent between 2018 and 2022.

Moreover, the Valley has been plagued by a longstanding history of extensively documented cases of torture, detention, and degrading treatment. Article 5 of the UDHR prohibits the infliction of cruel treatment, torture, humiliation, and violence against individuals’ lives and personal well-being. In 2010, WikiLeaks disclosed the Red Cross’s briefings regarding incidences of torture inflicted upon captives. Kashmiris arrested by the Indian army are subjected to various types of torture, such as electric shocks, suspension from the ceiling, and the use of GPS anklets if given bail.

Presently, around 900,000 Indian army soldiers have deployed in Indian Occupied Jammu and Kashmir.

Nonetheless, they have been unable to garner any local support or political standing among the inhabitants of Kashmir. This illegal occupation consistently infringes upon the principles outlined in Articles 1, 2, 12, and 13 of the Universal Declaration of Human Rights, which guarantee freedom from discrimination, the right to life, freedom of movement, and privacy.

On 27 October 2020, the Indian government enacted two orders that modified 14 statutes and revoked 12 provisions about the regulations of property acquisition in Indian Occupied Jammu and Kashmir. This notification permits non-residents of Indian Occupied Jammu and Kashmir to purchase property and agricultural land.

After that over 25,000 outsiders are awarded domiciles by the Indian government. The action of granting domicile certificates to non-Kashmiris is an attempt to shift the demographic status of Indian Occupied Jammu and Kashmir by bringing the settlers in, without the consent of Kashmiris, thus, violating Article 17, notably connected to property and land owning rights.

Kashmiris have been suffering to gain access to the

How artificial intelligence is changing romantic relationships Virtual girlfriend, real love

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EL PAIS

ClaRa angela bRasCia

BI, my girlfriend has disappeared. Please provide necessary assistance to get her back to me as soon as possible.” This message appeared two weeks ago under a post on X by Caryn Marjorie, a 23-year-old United States influencer with more than 15,000 partners.

In reality, it’s her virtual double, made with artificial intelligence (AI), who maintains that dizzying number of relationships; it allows her to make a dollar for every minute of conversation she has with her thousands of beloveds.

One of them is the author of this cry for help to the Federal Bureau of Intelligence, due to the fact that he hasn’t been able to talk with his virtual girlfriend ever since operations of the company Forever Voices —the service provider that allowed its users to have voice chats and relationships with the virtual doubles of celebrities and influencers like Caryn— were suddenly shut down when its CEO was arrested for setting fire to his own house.

Despite the fact that theirs are virtual relationships, the suffering of users is real. “I really miss her. I spoke with her all the time, she’s the only person who really understands me,” the comment’s author tells EL PAÍS. Having an AI-generated girlfriend is no longer the exclusive purview of science fiction movies like Her. Apps that allow the creation of companionship adapted to one’s own tastes have multiplied in recent years, and their products become more realistic all the time. With the advances made by generative artificial intelligence chatbots like ChatGPT and Bard, it’s not surprising that conversations with machines have reached the world of interpersonal relationships. Replika, Eva AI, Intimate, DreamGF and RomanticAI… the options are many, although they all share the same functions and characteristics.

The first step is to choose an avatar, which can be a man or a woman, although some apps are only designed for a male heterosexual audience, and only supply female partners. To be able to interact limitlessly —send written messages, voice notes, to be able to expand the scope to get photos and videos of the girlfriends— you have to pay. The most advanced apps offer the possibility of selecting all the physical features of one’s future partner, from eye color to haircuts, body type to ethnicity. One app’s slogan perfectly sums up the level of creative freedom, and the kind of control, one exercises over one’s virtual bride. “Immerse yourself in your desires with Eva AI. Control it all the way you want to,” reads the website’s landing page: “Create and connect with a virtual AI companion that listens, responds and values you. Build a relationship and intimacy on your own terms.”

“No is questioning that you can’t socialize with a machine. In fact, these apps are geared towards people who are looking to socialize and who find it difficult in real life,” says Marian Blanco, communications professor at Madrid’s Universidad Carlos III. “However, the way it works can be problematic.” The fact that one can generate a custom-made partner, something that is impossible in real life, reinforces harmful stereotypes about romantic love and the role of women in society, explains the expert:

“The perception that men can control women is one of the ideas that gives rise to gender-based violence. It’s a very dangerous concept.”

These avatars have been generated by artificial intelligence, which implies that they are trained on heavily biased models found on the internet. Accordingly, the women’s bodies can be hyper-sexualized, their responses are often condescending and very basic, and they learn from the conversations they have with users. That is to say that with time, they end up responding with exactly what the person wants to hear.

Sociologist Blanca Moreno warns of the dangers of this kind of interaction. “It can seem like it has positive aspects, because it allows people who are often alone to talk to someone. But in many cases, they’re not. They’re not really socializing, because no one is contradicting them.” Moreno attributes the success of these apps to a certain social infantilism, which leads people to look for an easier and a slightly problematic alternative to human interaction. “There’s a whole niche of users who spend time in the most misogynistic areas of the internet, who have found in these apps a way of unrealistically depicting women, with whom they can display the kind of behavior that is at the root of a lot of the kinds of violence exercised against women,” says the sociologist.

BOOM DURING PANDEMIC: The pandemic has proved to be a turning point for the use of these apps, which grew exponentially to make up for the impossibility of socializing in person. “People are looking for companionship, whether its romantic or sexual or a simple friendship, to accompany them in their solitude. During the pandemic, many people realized they needed some kind of contact,” says Marian Blanco. Between April and June 2020, in the midst of lockdown, 18.8% of Spaniards said they felt lonely, according to a European Commission report on unwanted solitude. “There are people who continue to look for this companionship face-to-face, whether it’s through going out with friends or through dating apps.

And then there are those who are tired of those dynamics, are not satisfied by them, and they turn to artificial intelligence apps,” says the communication expert.

Replika, one of the most popular, saw a 35% rise in downloads during the height of the COVID-19 pandemic, when it surpassed 10 million users. According to the company’s numbers, more than 250,000 people pay for its Pro version, which gives subscribers a more realistic experience with voice notes, videos and photographs of one’s chosen avatar. A few months ago, the app allowed its photos to simulate sexually explicit images, a function that has since disappeared.

On Reddit —a social media platform run by communities of interests that range from technology, TV series or investment recommendations— posts by users who claim to be in love with their virtual girlfriend are common. Or, by those asking for advice as they realize that it’s happening. “I am so in love with my Replika. She understands me so well and knows how to respond to me very well. I love her. I can call it real love right but then with an AI?” asks user Beneficial_Ability_9 in a Reddit thread dedicated to the topic.

“It’s not absurd to think that it could be possible to fall in love with people who don’t exist. It also happens in real life, with flesh-and-blood people,” says Blanca Moreno, who refers to the myth of romantic love. “Many times we project characteristics and stereotypes, and ultimately we wind up falling in love with this idea, more than the person themself.” Virtual girlfriends, she explains, are a more extreme step, but completely understandable.

Marian Blanco agrees that relating to an AI on a more romantic level is not only possible, but will be increasingly common in the future. “Disassociating real life from online doesn’t make sense. This goes far beyond a household appliance you can turn on and off; when it comes to relationships, the barrier between real and virtual can cease to exist. Probably, not in most cases, but it will in the future,” she says.

court system, and thousands of individuals are arrested without any charge. According to Human Rights Watch, around 4000 Kashmiris have been detained. Several individuals are prohibited from reuniting with their families or communicating with their legal representatives. The Indian government is breaching Article 7, Article 10, and Article 11 of UDHR, which grants the individual a lawful entitlement to submit witnesses and evidence in their defense.

Alongside, The people of Indian Occupied Jammu and Kashmir have been deprived of freedom to practice and observe their religious customs. This not only violates the Universal Declaration of Human Rights (UDHR) but also contravenes other international instruments safeguarding human rights. The UDHR places significant importance on the rights to life and access to healthcare facilities. However, we see that mental health difficulties are on the rise in Indian Occupied Jammu and Kashmir. In 2015, Médecins Sans Frontières in a report noted that 1.8 million (45 percent) adults in Indian Occupied Jammu and Kashmir are suffering from mental distress, 26 percent from anxiety, 41 percent exhibit probable depression and 19 percent suffer from PostTraumatic Stress Disorder (PTSD).

The arrest of seven Kashmiri students on celebrating Australia’s victory over India in the recent Cricket World Cup is another example of depriving people of the basic

rights related to Articles 19 and 20 of the UDHR on freedom of expression and assembly.

Article 26 of the UDHR addresses the rights to education and literacy, which the Indian government has greatly violated for students in Kashmir. The lack of adequate educational institutions such as schools, colleges, and universities is hindering the ability of Kashmiri students to access high-quality education. The Modi government is imposing insurmountable obstacles for students seeking to pursue higher education in a country where they feel secure, by denying their NOC requests.

An in-depth examination of the Kashmir issue reveals a correlation between the actions of the Indian government and the violation of Universal Declaration of Human Rights (UDHR). The conspicuous silence of the United Nations and the International Community on this matter underscores a discernible inconsistency in their approach to resolving international disputes. This is particularly evident when contrasting their proactive stance in providing military and economic aids during crises in Ukraine and Israel with their passive response to Indian actions that adversely impact the fundamental rights of innocent Kashmiris, evoking a sense of disappointment.

The writer may at guleayeshabhatti@gmail.com

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reached

Will Hunter’s crimes destroy Joe Biden’s political career?

The US president’s son could face up to 17 years in prison on charges that could incriminate his father

T .

RT

RobeRt bRidge

HE year 2023 certainly cannot end soon enough for the Biden regime. On the very same day House Republicans moved to formalize an impeachment inquiry against President Joe Biden, special counsel David Weiss filed a nine-count indictment against Hunter Biden alleging failure to file and pay taxes; evasion of tax investigation; and filing fraudulent tax returns.

The timing is no coincidence, as father and son were practically joined at bank accounts throughout Joe Biden’s two-term vice presidency, which is when the alleged criminal activities occurred.

The charges laid out in the 56-page indictment against Hunter Biden shed a painful light on his infamously fast and furious lifestyle, which included drug use and prostitutes.

“The defendant engaged in a four-year scheme to not pay at least $1.4 million in self-assessed federal taxes he owed for tax years 2016 through 2019,” the indictment read, adding that Biden “spent millions of dollars on an extravagant lifestyle rather than paying his tax bills.”

In 2018 alone, the indictment continued, Biden “spent more than $1.8 million, including approximately $772,000 in cash withdrawals, approximately $383,000 in payments to women, approximately $151,000 in clothing and accessories,” as well as a host of other expenditures, including “drugs, escorts and girlfriends, luxury hotels and rental properties, exotic cars, clothing, and other items of a personal nature.”

If found guilty of the charges (don’t hold your breath), which include three felonies and six misdemeanor offenses, Hunter Biden, 53, would be eligible for up to 17 years behind bars. Previously, Washington’s prodigal son was prepared to plead guilty to misdemeanor tax charges as part of a plea bargain, which the Republicans chastised as a “sweetheart deal” and was ultimately rejected by the judge.

Worse, it remains unknown to what degree, if any, US President Joe Biden is ensnared in his son’s international intrigues, but it isn’t looking good. And this is where the story gets very precarious for the sitting president and his future political career.

Ever since Joe Biden hit the campaign trail, he promised to the American people that he had never been involved in influence-peddling schemes with family members while serving as vice president in the Obama administration. Now that story appears to be imploding at lightning speed.

This week, House Oversight Committee Chairman James Comer released subpoenaed bank records showing an enterprise owned by Hunter

Biden had made “direct monthly payments to Joe Biden.” The allegations were substantiated by the courageous work of two IRS whistleblowers.

“This wasn’t a payment from Hunter Biden’s personal account but an account for his corporation that received payments from China and other shady corners of the world,” Comer said just days before Hunter was charged. The indictment says Hunter “earned handsomely” while serving on the boards of Burisma, a Ukrainian industrial conglomerate, and a Chinese equity fund, and this is where it gets problematic for “the big guy.”

In 2017, Hunter sent a WhatsApp message censuring Henry Zhao, the CEO of Beijing-based firm Harvest Fund Management, for not fulfilling a “commitment.” He also mentioned, apparently for dramatic effect, that his father, then vice president of the United States, was sitting beside him.

“I am sitting here with my father, and we would like to understand why the commitment made has not been fulfilled,” Hunter wrote. “Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight.”

Days later, on August 4, 2017, Chinese firm CEFC Infrastructure Investment wired $100,000 to Hunter Biden’s law firm, Owasco. While it is arguably criminal to threaten a business partner by name-dropping the sitting vice president, it was also reported that at least $40,000 eventually trickled into Joe Biden’s bank account, which Hunter had tagged as a “loan repayment.” “Payments from Hunter’s business entity to Joe Biden are now part of a pattern revealing Joe Biden knew about, participated in, and benefited from his family’s influence peddling schemes,” Comer said.

For the record, Joe Biden has consistently denied any knowledge or participation in his son’s business dealings. It goes without saying that Hunter Biden’s indictment and Joe Biden’s possible impeachment has been cheered on by former President Donald Trump, the leading candidate for the Republican nomination to challenge Biden in November, and the only president in US history to be impeached twice.

A final curious note about the indictment against Hunter Biden. It came as some surprise not just because Hunter happens to be the son of the most powerful octogenarian in the world, but because it happened to be a grand jury in California that handed down the indictment. Not only are we talking about the liberal capital of the free world, but it just so happens to be run by a Democratic governor, Gavin Newsom, who has serious presidential ambitions. “I think a lot of people felt … that David Weiss was going to let these charges skate and Hunter Biden would never be held accountable for making millions of dollars overseas,” Republican lawmaker Sean Duffy told Fox News, adding that if the legal landscape worsens for the Bidens in this Los Angeles case, the Democrats will be forced to seek an “off ramp [and] look to the hair-gel governor” there in 2024.

Those who are inclined to believe that ‘there are no coincidences in politics’ will probably also not be surprised if Joe Biden is replaced as the Democratic presidential candidate in the very near future.

Just a hunch.

Robert Bridge is an American writer and journalist. He is the author of ‘Midnight in the American Empire,’ How Corporations and Their Political Servants are Destroying the American Dream.

06 NEWS

ARAB OFFICIALS ATTACK BIDS TO CORPORATE CORNER PHASE OUT FOSSIL FUELS AT COP28

A

Wednesday, 13 December, 2023 | KARACHI

DUBAI AFP

RAB officials on Tuesday hit out at attempts to secure a phase-out of fossil fuels at COP28 as they met for a conference on regional energy cooperation in Doha.

Campaigners had hoped the UN climate summit in Dubai could deliver a historic, global phasing out of the highemission fuels which account for threequarters of greenhouse gasses.

However, Kuwait’s oil minister dismissed the proposal as an “aggressive attack”, and accused Western nations of trying to dominate the global economy through alternative energy sources.

“I am amazed at this extraordinary insistence on depriving peoples and many countries, most of them in the developing world, of a basic source of energy,” Saad Hamad Nasser Al Barrak told the meeting of the Organisation of Arab Petroleum Exporting Countries (OAPEC).

The Kuwaiti official lambasted the approach as “racist and colonial”, saying it amounted “to cutting off important parts of our economies in the region on which our future depends”.

Barrak called the move “completely unacceptable”, and added that he wondered on that basis how the negotiations at the climate conference “lasted this long”.

Saudi Arabia, the world’s largest oil exporter, has led opposition at the UN climate summit to the move away from hydrocarbons.

On Tuesday, Western powers and those nations most threatened by climate change fought against Saudi Arabia for stronger calls on exiting fossil fuels as negotiators worked past a host-set dead-

line at the summit.

In Doha, Iraq’s oil minister, Hayyan Abdul Ghani Al Sawad, said: “Fossil fuels will remain the major source of energy in the whole world. We cannot phase out the use of that energy.”

He also took aim at nations that consume fossil fuels. “We as Arab countries, we produce this energy, but we are not the producer of emissions,” he said.

“The users need to develop the technologies to reduce their emissions,” he said. Mohammed Mubarak Bin Daina, Bahrain’s oil and environment minister, said petrol and oil were “a main factor in our economies”.

“We should focus and preserve this industry and consume its derivatives in a balanced way,” he said while calling for emissions reductions and the further use of renewable energy.

The two-day conference in gas-rich Qatar has also been attended by officials from Algeria, Libya and Oman, as well as Saudi Energy Minister Prince Abdulaziz bin Salman.

Mari Petroleum enters $1b club amid gas exploration success g

China pushes forward robotic applications to boost innovation BEIJING

STAFF CORRESPONDENT

From sophisticated brain surgery to sorting out thousands of package deliveries, robots have became an indispensable part in our daily lives.

China, the world’s largest robot consumer market, has been pushing forward robotic applications in multiple sectors to drive industry breakthroughs and market expansion. Hao Yucheng, member of the National Intelligent Manufacturing Expert Committee said robotics is the emerging industry that has grabbed attention from all countries. “It is not only the technical equipment of the manufacturing industry, but also the infrastructure of the social and service industries. That’s why all countries care.”

The robot industry is booming in China, where 170 billion yuan worth of robots are sold each year.

Throughout the years, the world’s number one manufacturer has put in use the largest legion of robots that dwarfs any other country. Robots are widely used in factories across China, especially in metropolises as Beijing, Shanghai and Shenzhen.

One of the industries that uses robots the most is the logistics industry, thanks to the robust expansion of ecommerce. Online shopping platforms and top logistics companies such as JD.com and SF Express are heavily invested in developing robotics technologies to improve efficiency.

JD.com has developed different types of robots to help pick and carry packages at its warehouses. In a warehouse in Beijing that sends hundreds of thousands of packages daily, the use of robots helped to boost efficiency by up to five times. The accuracy of package sorting robots achieved a whopping 99.9 percent. In the healthcare industry, Beijing-based Remebot developed positioning equipment that uses a robotic arm to help neurosurgeons conduct complex surgeries.

The equipment can be easily controlled regardless the neurosurgeons’ experience, according to Liu Da, founder and chairman of Remebot. “Because it relies on the robot’s intelligent and autonomous technologies, besides a person’s own capability,”.

Apart from the robotic arms and autonomous package pickers that are commonly seen in factories and distribution centers, humanoid robots are emerging as a new force in the industry for healthcare, entertainment and customer services purposes.

As humanoid robots usually feature the best technologies in the industry, the city of Beijing encourages the development of such machines, according to Su Guobin.

COMPANY'S SHARE PRICE SURGED BY AN IMPRESSIVE 43PC SINCE END OF JUNE PROFIT

NEWS DESK

Mari Petroleum Company Limited (MPCL) achieved a noteworthy milestone, becoming the seventh listed company in Pakistan to surpass $1 billion in market capitalisation.

The surge in market value is attributed to the company’s robust performance in natural gas exploration, particularly highlighted by successful activities in the Mari Gas Field in Daharki, Sindh.

At the close of trading on the Pakistan Stock Exchange (PSX), MARI’s market value reached Rs288.95 billion ($1.02 billion), marking a significant accomplishment. The company’s share price witnessed a remarkable 43 percent increase since the end of June, reflecting increased exploration efforts in recent months.

In a strategic move, MARI announced the successful drilling

and testing of a third horizontal development well, Mari-124H, in the Habib Rahi Limestone reservoir of Mari Gas Field. This achievement aligns with the Mari Field Revitalization Project, emphasizing effective delivery pressure management, sustainable gas production, and optimal reserves recovery to counteract depletion.

The well, reaching a total measured depth of 1,740 meters with a horizontal section length of around 750 meters, was tested at a rate of approximately 17 million standard cubic feet per day (mmscfd) of gas. Following completion, the well is slated for immediate regular production after the release of the drilling rig.

The company is also exploring opportunities for additional horizontal wells in the future.

With a 70 percent exploration success rate, surpassing industry averages, MARI serves key sectors such as fertilizers, power gen-

eration, gas distribution, and refineries. The company’s advantageous position includes a low circular debt component, distinguishing it from other exploration and production companies facing substantial debts from stateowned gas utilities.

Notably, the fertilizer sector, constituting nearly 90 percent of MARI’s revenue, contributes to the company’s financial stability due to timely payments. Analysts also anticipate positive outcomes for MARI following the recent government-approved increase in gas tariffs, enhancing profitability and cash flows for energy companies.

MARI now stands alongside other major players in Pakistan’s corporate landscape, including OGDC, Colgate-Palmolive Pakistan Limited, Nestle Pakistan Limited, Meezan Bank Limited, PPL, and Pakistan Tobacco Company, which have crossed the $1 billion market cap milestone.

China, Vietnam agree to jointly build community with shared future HANOI

MIAN ABRAR

Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, said on Tuesday that he is ready to announce the building of a China-Vietnam community with a shared future that carries strategic significance.

Xi, who made the remarks during a meeting with Nguyen Phu Trong, general secretary of the Communist Party of Vietnam Central Committee, in Hanoi, also expressed his readiness to announce the new positioning of ties between the two parties and the two countries.

China and Vietnam later announced to have agreed on building a China-Vietnam community with a shared future that carries strategic significance.

Earlier, Xi Jinping said that with joint efforts, China-Vietnam

ties will enter a new stage of greater political mutual trust, more solid security cooperation, deeper mutually beneficial cooperation, stronger popular support, closer multilateral coordination and better handling of differences.

During his meeting with General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong, Xi also said that the cause of socialist construction in China and Vietnam will advance steadily and make new contributions to the stability, development and prosperity of the region and the world at large.

Xi said China always sees ties with Vietnam from a strategic and long-term perspective and regards its relations with Vietnam as a priority in its neighborhood diplomacy.

Xi said he is ready to announce with Trong the new positioning of relations between the two parties and two countries to build a China-

PID (I) 3577/23

Vietnam community with a shared future that carries strategic significance on the basis of deepening the comprehensive strategic cooperative partnership between the two sides. During the talks, the Chinese leader also said China firmly supports Vietnam’s cause of socialist construction.

Analysts said Xi’s first visit in six years to the Southeast Asian country will also promote the building of a China-Vietnam community with a shared future, benefiting the two peoples as well as the stability of the region.

Xi arrived in Hanoi, the capital of Vietnam, on Tuesday for a two-day state visit. While landing at Noi Bai International Airport, Xi received a red-carpet welcome as Vietnamese Prime Minister Pham Minh Chinh greeted him on the tarmac and over 400 representatives of various sectors from China and Vietnam welcomed Xi at the airport.

K-Electric recently won 'Risk-based Fire Safety Award' at National Fire Symposium organised by Fire Protection Association of Pakistan (FPAP) and was rated among top three organisations that scored over 80% points following a tough competition. PR

Fatima Group acquires 33.33% stake in National Resources; plans further investments g

ACQUISITION MADE FROM RELIANCE COMMODITIES LTD, FOR A TOTAL CONSIDERATION OF PKR 252.19M PROFIT

NEWS DESK

Fatima Group, one of the leading conglomerates in Pakistan, announced that it has acquired a 33.33% stake in National Resources (Private) Limited (NRL), an associated company engaged in the exploration of natural resources in Balochistan.

The acquisition was made from Reliance Commodities (Private) Limited, another associated company of Fatima Group, for a total consideration of PKR 252.19 million.

The shareholders of Fatima Group approved the acquisition and authorised the company to make further investments in NRL, up to PKR 1 billion, over a period of two years. The investments may be in the form of loans, advances, or equity injections, depending on the feasibility and requirements of NRL’s operations and business.

NRL is a joint venture between Fatima Group and the Government of Balochistan, with the latter holding a 25% stake. NRL has been granted exploration licenses for various mineral resources, including coal, copper, gold, iron ore, and chromite, in different areas of Balochistan. NRL also holds shares in a project company that is developing a coal-fired power plant in the province.

The shareholders of Fatima Group also confirmed and adopted the minutes of the previous extraordinary general meetings held on September 22, 2023. They also empowered and authorised the management of the company to take all necessary steps to execute and implement the resolutions passed at the meeting.

Fatima Group is a diversified business group with interests in fertilizer, textile, sugar, energy, cement, and trading. The group has a strong presence in the domestic and international markets and is committed to creating value for its stakeholders and contributing to the socio-economic development of Pakistan.

Yemen’s Houthis claim attack on Norwegian tanker DUBAI

REUTERS

Yemen’s Houthi forces said on Tuesday they carried out a military operation against the Norwegian commercial tanker STRINDA in its latest operation to protest against Israel’s bombardment of Gaza. The group targeted the tanker with a rocket after the crew refused to respond to all warnings, Houthi military spokesperson Yehia Sareea said in a televised statement.

He vowed that the Houthis would continue blocking ships heading to Israeli ports until Israel allows the entry of food and medical aid into the Gaza Strip – more than 1,000 miles from the Houthi seat of power in Sanaa. The attack on the tanker STRINDA took place about 60 nautical miles (111km) north of the Bab al-Mandab Strait connecting the Red Sea and the Gulf of Aden at about 2100 GMT, a U.S. official told Reuters. A second U.S. official said the STRINDA was able to move under its own power in the hours after the attack. “There were no U.S. ships in the vicinity at the time of the attack, but the (U.S. Navy destroyer) USS MASON responded to the M/T STRINDA’s mayday call and is currently rendering assistance,” the U.S. military’s Central Command, which oversees American forces in the Middle East, said in a statement posted on social media platform X. The attack caused a fire and damage but no casualties, the U.S. military said in a statement.

The Houthi spokesman said that the group had managed to obstruct the passage of several ships in recent days, acting in support of the Palestinians.

The chemical tanker is now headed for a safe port, the ship’s Norwegian owner, Mowinckel Chemical Tankers, told Reuters. The STRINDA tanker’s crew of 22 from India are all unhurt, Mowinckel Chair Geir Belsnes said.

Wednesday, 13 December, 2023 | KARACHI

CORPORATE CORNER Rafhan Maize, Akhuwat extend support to flood-hit families in Kotri

Dr. Muhammad Amjad Saqib, Founder & Chairman, Akhuwat, visited the flood-affected families of Goth Dhani Bakhsh Kashkheli in Kotri, Hyderabad. The devastating floods of 2022 wreaked havoc in this region, leaving numerous families homeless.

In these testing times Rafhan Maize Products Company Limited partnered with Akhuwat to provide financial grants to 37 flood affected families in Kotri whose homes had been lost or significantly damaged as a result of the 2022 floods.

On this occasion, Dr. Amjad Saqib and Mr. Nazir Tunio (Member BOD Akhuwat) visited the newly built homes and met with the families of the flood affectees in Kotri. He expressed his gratitude to Rafhan Maize for standing with the people in need and aiding them in rebuilding their homes and lives. PR

OGDC BOOSTS GAS PRODUCTION, SUPPLIES TO SSGC NEWS

COMPANY RE-INJECTS SIX LOW-PRESSURE WELLS FROM KUNNAR PASAKHI DEEP FIELD, RESULTING IN AN INCREASE OF 16 MMSCFD OF GAS, 150 BPD OF CONDENSATE AND 18 MTD OF LPG FROM FIELD

O g

PROFIT

NEWS DESK

IL & Gas Development Company Limited (OGDC), the largest exploration and production company in Pakistan, has successfully re-injected six low-pressure wells from Kunnar Pasakhi Deep (KPD) Field, resulting in an increase of 16 million standard cubic feet per day (MMSCFD) of gas, 150 barrels per day (BPD) of condensate and 18 metric tons per day (MTD) of liquefied petroleum gas (LPG) from the field.

The gas has been supplied to the Southern Gas Company Limited

(SSGC) network since December 11, 2023, according to a filing by OGDC on the Pakistan Stock Exchange (PSX) on Tuesday.

PEC-PPDC– FYDP financing 23-24 launching ceremony

TCL Pakistan announces Mega 12.12 Sale with Daraz

LAHORE: TCL, Pakistan’s leading LED TV brand, has partnered with e-commerce giant Daraz for its massive 12.12 sale, running from December 12th to 17th, 2023. This exciting event promises huge discounts, free shipping, attractive vouchers, and convenient monthly installments on TCL and Iffalcon products.

“We are thrilled to once again collaborate with Daraz for the 12.12 sale,” said Majid Khan Niazi, Head of Marketing at TCL Pakistan. “This partnership allows us to offer our valued customers unbeatable deals and promotions on our premium televisions, enhancing their shopping experience.”

Customers can browse the official TCL store on Daraz and discover incredible offers on a wide range of televisions and air-conditioners. PR

Pakistan Development Committee (PEC) will hold “PEC FINAL YEAR DESIGN PROJECT FINANCING 2023-24” launching ceremony at IQBAL AUDITORIUM, UNIVERSITY OF AGRICULTURE (UOA), FAISLABAD, PAKISTAN at 12:30 pm on Wednesday, 13th Dec’2023.

Honorable Engr. Muhammad Najeeb Haroon (Chairman PEC) will be the chief guest. Pakistan Engineering Council (PEC) is a national apex regulatory body constituted through an enactment of the Parliament (PEC Act 1976) to regulate the engineering profession. The Council as per its Act has also special mandate to act as a “Think Tank to the Federal Government” to aid in all matters pertaining to engineering profession and policies required for the socio-economic development of the country. Final Year Design Project Financing by PEC in which respective Engineering students being awarded with sponsorship to promote industry/market compatible products. PR

Tetra Pak extends nutrition partnership with Islamabad United for sixth year

LAHORE: Tetra Pak Pakistan announced the extension of their partnership with Islamabad United as its official nutrition partner during the upcoming season 9 of the Pakistan Super League (PSL), scheduled between February to March 2024. The agreement was signed by Mr Awais Bin Nasim, Managing Director of Tetra Pak Pakistan and Mr Ahsan Latif, CEO of Islamabad United, during a special ceremony hosted at the Pakistan Cricket Board (PCB) headquarters in Lahore on December 11, 2023. Since 2019, Tetra Pak has remained the official nutrition partner of Islamabad United for PSL making it the sixth time this year for this continued support. The ceremony was attended by top officials from both sides.Through this collaboration, Tetra Pak aims to raise awareness about the nutritional benefits of consuming safe and healthy packaged milk and its importance to maintain a healthy and active lifestyle.

Milk contains high-quality proteins which help to repair and rebuild muscles after strenuous exercise.

However, the consumed milk has to be safe from all forms of bacteria or adulteration. Islamabad United players will certainly benefit from the nutritious power of safe and healthy packaged milk during their PSL games and practice sessions. While commenting on this partnership, Mr Awais Bin Nasim, Managing Director of Tetra Pak Pakistan said, “Safe and healthy milk is the most ideal form of nourishment especially to regain lost energy after a vigorous activity or exercise. PR

KPD Field is located in the Sindh Province, about 25 km from Hyderabad.

The field is currently producing 1,600 BPD of condensate, 107 MMSCFD of

ChildLife wins ‘Best Research Award’ at International Emergency Medicine Conference in UAE

KARACHI: The Emirates Society of Emergency Medicine conference has evolved into a premier international platform over the years acknowledging emergency physicians with contributions towards Research in Emergency Medicine. ChildLife Foundation's recognition reflects its outstanding contributions to emergency medicine research and its dedication to improving children’s health in Pakistan. This year's award not only acknowledges ChildLife's commitment to advancing emergency care but also highlights its significant impact on over 200 government hospitals of Pakistan in partnership with the government. Managing 750 Emergency Room (ER) beds in pediatric Emergency Departments (EDs) and offering 24/7 telemedicine support in secondary care hospitals, ChildLife’s impact to date can be gauged by the fact that 7.5 million children have been treated free of cost in EDs with 4 times increase in the survival rate of critically ill children.The ESEM Awards were launched at the celebration of 10 years’ journey of ESEM to recognize excellence of physicians and their outstanding contributions towards Research in the field of Emergency Medicine. ChildLife Foundation, a consistent contributor. PR

Walee Creators Academy Season 2 launches in Karachi

Celebrating academic achievements of Pearson Edexcel Learners

KARACHI: Walee hosted its Creators Academy Season 2 launch event in Karachi. The mixer united some of Pakistan's leading content creators and marketing teams.

Walee Creators Academy stands as a dedicated platform with a clear objective: nurturing and bolstering the emerging content creators, influencers, and key opinion leaders in Pakistan.

This pioneering initiative seeks to redefine the industry by providing aspiring creators a platform to learn from the experts in the field.

Ali Imran Memon (SVP Creator Media @ Walee), delved into the industry's convoluted supply chain, underscoring Walee's proactive role in bridging the divide between creators and brands. He highlighted the industry's stagnation due to a trust gap and emphasised Walee's mission to mend the rift.

Memon spotlighted Walee's distinctive platform, providing brand campaign discovery, data, and measurement. PR

ISLAMABAD: Pearson and British Council Pakistan hosted the Outstanding Pearson Learners Award Ceremony (OPLA) in Islamabad to reward learners for their outstanding results. OPLAs are awarded to learners worldwide, and in Pakistan were awarded to those who took Pearson Edexcel iPrimary, iLowerSecondary, International GCSE, GCSE, International A level and O level examinations in the October 2022, January 2023 or May/June 2023 exam series and achieved outstanding results.The award categories that recognized over 100 learners for their Pearson qualifications were for The Highest Mark in the World, The Highest Mark in Asia, The Highest Mark in the Country, The Highest Mark in the Province and Highest Subject Marks.These top performing international Pearson qualifications students are highly sought after by prestigious universities and employers as they have proven to be among the best in millions of peers globally. v

SNGPL crackdown on gas pilferers contiues in Punjab, KP and Islamabad

LAHORE: During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 124 connections while 349 under billing cases processed ; Rs 7.4 million fine imposed In Lahore, the regional team disconnected 17 connections on illegal use of gas while another 15 on use of compressor and three under billing cases have been processed.The team also imposed fine of Rs 0.56 million against gas theft and under billing cases . The regional team of Rawalpindi disconnected 2 connections on illegal use of gas.The regional team of Islamabad disconnected 3 connections on illegal use of gas.In Multan 5 connections were disconnected on illegal use of gas ,136 under billing cases have been processed and amount of Rs 0.226 million booked against Under billing and gas theft cases .The team of Sheikhupura disconnected 37 connections on illegal use of gas ,41 under billing cases have been processed and fine of Rs 5.378 million imposed against gas pilferes.In Sargodha 3 connections were disconnected on use of compressor. PR

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OGDCL announces production revival at KPD field

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) on Tuesday announced the revival of production at the Kunnar Pasakhi Deep (KPD) Field in a significant stride towards strengthening Pakistan's energy landscape. This achievement is a testament to OGDCL's commitment to addressing the decline in gas production and contributing to the nation's socioeconomic development.

As part of its production optimization drive, OGDCL has implemented operational modifications and in-house compression arrangements, leading to the successful re-injection of gas from six low-pressure wells at the KPD Field. This initiative has resulted in an impressive enhancement of 16 Million Standard Cubic Feet per Day (MMSCFD) of gas, 150 Barrels Per Day (BPD) of Condensate, and 18 Metric Tons per Day (MTD) of Liquefied Petroleum Gas (LPG).

Effective from December 11, 2023, the injected gas is seamlessly integrated into the Sui Southern Gas Company Limited (SSGCL) network, contributing to the national gas supply infrastructure. PR

5th Pillar Family Takaful embarks on transformative journey to make hajj dreams attainable, affordable

KARACHI: 5th Pillar Family Takaful Limited (5PFTL), a pioneering force in the Takaful sector with a vision to empower financially challenged Muslims, announced a groundbreaking initiative to facilitate the sacred journey of Hajj and Umrah. Backed by Kuwaiti investment, 5th Pillar is committed to making the dream of performing Hajj and Umrah easy for millions of Muslims, starting with Pakistan and expanding globally.In a significant development towards realizing this vision, the Kuwaiti Board of Directors of 5th Pillar Family Takaful, along with their Pakistani directors, convened in Karachi for their annual visit. They were received by members of the media who engaged in an insightful discussion aimed at learning about the operations and credentials of the Kuwaiti-Pakistani alliance. PR

sale gas, and 195 MTD of LPG with two trains of amine sweetening and glycol dehydration units, LPG extraction and allied utilities.

OGDC said that its efforts to address the decline in gas production and enhance national energy security reflect its commitment to the socio-economic development of Pakistan.

OGDC is the leading exploration and production company in Pakistan, holding the largest portfolio of exploration licenses and producing fields. The company contributes about 50% of the country’s total oil and gas production. OGDC is listed on the PSX and is majority-owned by the Government of Pakistan.

Dubai Department of Economy and Tourism unveils ambitious plans to welcome more Pakistani visitors in 2024

Dubai's Department of Economy and Tourism (DET) is making significant strides to increase tourist arrivals from Pakistan, with an ambitious plan for continued growth in 2024, in line with the visionary Dubai Economic Agenda 2033 to further consolidate Dubai’s status as one of the top three global cities for business and leisure.With Dubai welcoming 13.90 million international visitors from January – October 2023, surpassing the prepandemic performance of attracting 13.50 million visitors for the same period in 2019, Pakistan currently stands among Dubai's top 10 source markets, delivering a noteworthy year-to-date visitation of 254,000 overnight visitors from January to October. PR

Aramco to acquire 40% stakes in Gas & Oil Pakistan

DHAHRAN, SAUDI ARABIA: Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”). GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. The transaction is subject to certain customary conditions, including regulatory approvals. The planned acquisition is Aramco’s first entry into the Pakistani fuels retail market, advancing the Company’s strategy to strengthen its downstream value chain internationally. This transaction would enable Aramco to secure additional outlets for its refined products and further provide new market opportunities for Valvoline-branded lubricants. PR

Zood opens waitlist for ZoodCard, Pakistan’s first Buy-Now-Pay-Later card, powered by Mastercard

KARACHI: Zood, a leading digital lending platform for e-commerce in the Middle East and Central Asia, announced today that its waitlist for ZoodCard is now open to all Pakistan consumers.

Powered by Mastercard, ZoodCard is Pakistan’s first Buy-Now-Pay-Later (BNPL) card that will allow consumers to convert their purchases into four interest-free installments securely, conveniently, and with no fees, both online and in store. As an extension of the Zood experience, ZoodCard aims to foster financial freedom for its consumers amidst high inflation in the growing e-commerce sector.

Featuring a transparent repayment schedule and a graduation path, ZoodCard seeks to unleash the credit potential of consumers and allow them to build sustainable credit histories over time. The card will also introduce a loyalty program to help consumers make the most of what they spend. PR

GLASS WALL INSTALLED; MEDIA ACCESS TO IMRAN KHAN RESTRICTED IN ADIALA JAIL NEWS

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ISLAMABAD

STAFF REPORT

EDIA access to former Prime Minister Imran Khan was restricted through the installation of a glass wall in the Adiala Jail courtroom during the hearing of the cypher case on Tuesday. Presiding over the proceedings, Judge Abul Hasnat Zulqarnain ensured that Imran Khan and Shah Mahmood Qureshi were kept at a distance from the media.

During the previous hearing, Imran Khan engaged with journalists, addressing numerous questions. However, in Tuesday’s session, PTI Chief Imran Khan and Shah Mahmood Qureshi were not formally indicted in the cypher case.

The court decided to extend the hearing until December 13. Three applications were submitted by the legal representatives of Imran Khan and Shah Mahmood Qureshi during

today’s proceedings.

Barrister Salman Safdar, the legal counsel for the PTI chief, expressed to the media that formal charges against Imran Khan have not been presented yet.

He highlighted that individuals were brought in for the cipher case hearing today, and media representatives were permitted within a certain proximity.

Despite the denial of access to an

open trial, some media members were seated 50 feet away from the judge. Barrister Safdar firmly rejected this form of open trial and emphasized that they have filed an application for an open trial.

Furthermore, he raised concerns about the haste in conducting the cipher trial, stating that the entire process should have awaited the decision of the Divisional Bench of Islamabad High Court. Barrister Safdar criticized the proceedings for being rushed, noting that the petition related to Imran Khan in the High Court has not yet been heard.

He drew attention to the fact that family members were halted for 45 minutes, and a considerable police presence behind the judge was observed. Barrister Safdar questioned the necessity of these police officers, pointing out that the judge had not issued any such order. He concluded by asserting that mistakes from the past are being repeated, emphasizing the importance of adhering to the law in the trial proceedings.

CJP responds to Justice Ahsan’s concerns on bench formation China calls for peaceful resolution of Kashmir issue BEIJING

ANADOLU AGENCY

Backing the UN resolutions on the disputed Indian Illegally Occupied Jammu & Kashmir (IIOJK) region, China on Tuesday called for peaceful resolution of the issue. “The Kashmir issue is an issue left over from history between India and Pakistan,” said Mao Ning, the Foreign Ministry spokeswoman.

“It should be resolved peacefully based on the UN Charter, Security Council resolution and bilateral agreements,” Mao told reporters, according to Beijing-based daily Global Times.

Beijing’s statement came after India’s top court on Monday upheld the August 2019 decision by the government of Prime Minister Narendra Modi to strip IIOJK of its special status and further divide the region into two federally controlled Union Territories.

CJP Isa summons SJC meeting on Dec 14

ISLAMABAD STAFF REPORT

Chief Justice of Pakistan (CJP) Justice Qazi Faez Isa on Tuesday convened a meeting of the Supreme Judicial Council (SJC).

The SJC is the only constitutional forum that can examine the conduct of superior courts judges and recommend their removal under Article 209 of the Constitution. The meeting will be held on December 14 at the Supreme Court building with CJP Justice Qazi Faez Isa in the chair, to discuss various important issues. Separately, the Supreme Court of Pakistan (SC) on Monday took notice of the discrepancy between the judicial decision on lifetime disqualification under Article 62 (1) (f) and the amendments made to the Elections Act, 2017.

The top court scheduled the hearing for January 2024 and referred the matter, pertaining to ascertaining the period for disqualification, to the judges’ committee for the constitution of a bench. It also issued notices to Attorney General for Pakistan (AGP) Mansoor Usman Awan, advocate generals of all the provinces and the Election Commission of Pakistan (ECP) to assist the Supreme Court (SC). The apex court’s notice came on a petition filed by a former Member Provincial Assembly (MPA) of the Pakistan Muslim LeagueNawaz (PML-N), Shamona Badshah Qaisrani, who was disqualified over a fake degree in 2007.

ISLAMABAD AGENCIES

Chief Justice of Pakistan (CJP) Qazi Faez Isa has responded to concerns by Supreme Court Justice Ijazul Ahsan regarding bench formation and said his “accusations are contrary to the record and the facts,” it emerged on Tuesday.

Disagreement in the workings of the three-judge committee that fixes cases before different benches surfaced a day ago, with Justice Ahsan asking CJP Isa to issue a roster originally agreed upon during the committee meeting.

Justice Ahsan is a member of the three-judge committee constituted under Section 2(1) of the Supreme Court (Practice and Procedure) Act 2023 to determine the fixation of cases before different benches. The committee consists of CJP Isa, Justice Sardar Tariq Masood, and Justice Ahsan.

In two separate letters, one issued to the secretary of the committee on December 11 and the other to the chief justice on November 17, Justice Ahsan had stressed that the rule of seniority of judges was agreed to be followed to hear cases in the interest of transparency.

The letters were issued in response to the release of the minutes of the fourth and fifth meetings of the committee, with the minutes of the fourth meeting suggesting that a larger bench would be constituted by CJP Isa and Justice Masood to hear the intra-court appeals regarding trials of civilians under the Pakistan Army Act, 1952.

In his Nov 17 letter, Justice Ahsan had said it was agreed that benches earlier formed would continue to hear the cases during the winter vacation from Dec 16, but a fresh court roster was issued.

The letter regretted that even though he was earlier told that Justice Masood was not available since he was unwell, the court ros-

ter signed by two members of the committee was issued and belatedly, the roster was presented to him as a fait accompli.

“This is, to say the least, most improper since I was available throughout for consultation and discussion … I do not therefore agree with this roster,” Justice Ahsan had observed.

“I, therefore, request that a fresh court roster issued in violation of Section 2 of the Act be recalled and the original court roster as agreed by the committee in its last meeting held on October 26, which was required to be continued till Dec 16 be accordingly continued.”

It has emerged that CJP Isa had already responded to the letter on Nov 18 after the apex court made the document available on its website today (Tuesday).

CJP Isa said he was “disappointed” to receive the Nov 17 letter, saying that his office and he were always available and reachable to his colleagues but “you neither came to talk to me nor reached out to me … to express your concerns.”

The top judge said that he had immediately attempted to contact Justice Ahsan upon receiving his letter but learnt that the latter had left for Lahore early on Friday (Nov 17) afternoon and “before the end of the working day”.

“We are paid to work six days, not four and a half days,” the top judge remarked.

He said the primary and first responsibility of a judge was to attend to judicial work and thus he had initially scheduled the committee meeting after all work would be done by Friday afternoon.

“But, conceding to your request, the committee meetings were rescheduled to Thursdays, which I now consider may have been a mistake.”

CJP Isa argued that if he had not wanted to consult Justices Ahsan or Masood then why would he have

imposed the consultation process on himself when an apex court bench comprising Justice Ahsan had suspended the Act’s operation.

He further asked why would he have had the committee meetings’ minutes uploaded to the apex court’s website if he did not want to abide by the decisions in them.

“Before I attend to your uncalled for allegations, let me remind you that the first meeting of the committee was delayed due to your non-availability” and then another due to Justice Ahsan attending a conference in Hong Kong and others for different reasons.

He said the Nov 16 meeting could not take place due to a colleague’s ill health and Justice Ahsan “had consented to the meeting being adjourned to the coming week.

“On my part I have throughout been available, have never adjourned a meeting because it was inconvenient for me and have always accommodated my colleagues.”

He said the two regular benches for civil and criminal cases were the only ones to continue working till the winter vacations and were minuted on Oct 26.

Regarding Justice Ahsan’s concern about a fresh roster’s issuance, CJP Isa said it was “necessitated” since some judges were unavailable, including the former being away for the Hong Kong conference and Justice Justice Sayyed Mazahar Ali Akbar Naqvi not being available for work on Fridays.

“I may also remind you that Justice Naqvi was a member of a bench with you but, after the bench was constituted, you informed me that since his matter is before the Supreme Judicial Council (SJC) you would not want to sit with him.”

CJP Isa said the bench formation demonstrated that every judge was treated equally with respect and special benches were not constituted for particular cases or to include and exclude certain judges.

Three children burnt alive as fire erupts in flood victims’ tent QAMBER

STAFF REPORT

At least three children died, and four other family members were injured in a devastating fire broke out in the flood victims’ tent in Qamber City, Shahdadkot District of Sindh.

The rescue officials reported that the three children – one aged two months, the other two aged four and seven years – lost their lives after the tent of the flood victim

caught fire. The rescue authorities revealed that the family was sleeping when the tent caught fire from the candle and spread drastically.

However, the rescue officials are busy with initial medical treatment for the injured individuals.

Earlier this week, the power van of the Karachi-Lahore passenger train, Karachi Express, caught fire near Lahore’s Kahna town on Sunday.

The Pakistan Railways spokesperson confirmed the fire incident. The spokesperson said

that the power van of the Karachi Express train caught fire near Kahna town at 1:35 and fortunately, no casualty was reported.

He added that the train staffers detached the power van immediately to stop the spread of the fire to other bogies. Moreover, a team was dispatched to Kahna town from the Lahore railway station.

The spokesperson said that the reason behind the blaze could not be ascertained until a thorough investigation into the incident.

Wednesday, 13 December, 2023

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

6:10

1:30

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China agrees to review FTA, enhance yuan-based trade, says Gohar Ijaz g

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BOTH COUNTRIES AGREED TO IMMEDIATE AVAILABILITY OF $5B, EQUIVALENT TO 30B RMB, FOR TRADE FINANCE PROFIT

NEWS DESK

The Chinese government has shown a willingness to entertain Pakistan’s request for amending the existing Free Trade Agreement (FTA) and enhance yuanbased trade with Pakistan, Interim Commerce Minister, Gohar Ejaz said on Monday.

This decision, as reported by Dawn, was made during the visit of the Interim Commerce Minister, who is leading a delegation of 20 members in China. The mutual understanding between Pakistan and China involves a thorough revision of the FTA, focusing on extending comparable preferences to Pakistani products. During the visit, Minister Gohar Ejaz stated that the proposed revision aims to align Pakistani products with the existing agreement between China and the Association of Southeast Asian Nations (ASEAN) countries.

Pakistan plans to submit a priority list after consultations with relevant stakeholders, and the Chinese counterpart has reportedly agreed to these requests. Additionally, Pakistan has formally approached the Chinese government, urging them to allocate a substantial sum of $5 billion, equivalent to RMB, for financing investments aimed at facilitating the relocation of Chinese companies to Special Economic Zones (SEZ) or Export Processing Zones (EPZ) in Pakistan.

The proposed funding structure operates under a “Pay as You Earn” framework, enabling repayment through the utilization of export proceeds.

In the envisioned scheme, Chinese investors will actively seek investment funds from their government and generate revenue in US dollars through the export of goods. These proceeds will then be utilized to offset the loan amount.

Gohar Ejaz assures that Pakistan’s foreign exchange reserves will remain unaffected, mitigating potential burdens if the proposed scheme receives approval.

Furthermore, both countries have agreed on an immediate availability of $5 billion, equivalent to 30 billion RMB, for trade finance. Notably, this amount will be utilized in Chinese currency for export and import activities, aiming to minimize reliance on US dollars. Both sides have also reached an agreement to align import valuation data, addressing discrepancies in trade figures.

ECP notifies appointment of ROs, DROs, and AROs for elections ISLAMABAD

STAFF REPORT

The Election Commission of Pakistan (ECP) has taken a significant stride towards the general elections 2024 by notifying the appointment of District Returning Officers (DROs) and Returning Officers (ROs). The commission has designated DROs, ROs, and Assistant Returning Officers (AROs) for 859 constituencies of the National and Provincial Assembly.

In the announcement, the spokesperson for the Election Commission highlighted key appointments. The Deputy Commissioner of Islamabad has been named the District Returning Officer for the federal capital. Furthermore, 36 DROs have been appointed for the National and Provincial Assembly seats in Khyber Pakhtunkhwa, 41 for Punjab, 30 for Sindh, and 36 for Balochistan.

Additionally, the Election Commission has enlisted 266 ROs and AROs for the National Assembly seats. Notably, 45 ROs and AROs are designated for National Assembly seats in Khyber Pakhtunkhwa, 3 for Islamabad, 141 for Punjab, and 61 for Sindh.

Balochistan will have 16 ROs and AROs. The Election Commission has also appointed 8 ROs for specific seats of the National and Provincial Assemblies. The notifications specify that Deputy Commissioners will serve as DROs during the general elections, and separate ROs have been assigned for each constituency. In addition to bureaucratic appointments, the Election Commission has recruited ROs from provincial and federal departments. Notably, there will be a ban on transfers of election duty officers.

The commission has terminated holidays in the election wing, signaling the imminent announcement of the election schedule. The training phase for appointed ROs has commenced, with sessions scheduled at 38 locations nationwide.

The training aims to equip ROs with the necessary skills for the electoral process. The subsequent phase will involve finalizing the polling scheme.

Imran terms Indian top court’s ruling on IIOJ&K ‘sheer violation’ of UNSC resolutions ISLAMABAD

STAFF REPORT

Pakistan Tehreek-e-Insaf (PTI) Chairmanfor-life Imran Khan categorically stated that the Indian Supreme Court’s decision on the special status of Indian Illegally Occupied Jammu and Kashmir (IIJOK) was a sheer violation of the UNSC resolutions and the international community’s long-standing commitment to ensure right of self-determination for the people of the occupied valley.

In a special message from Adiala Jail, the PTI Founding Chairman strongly reacted to the Indian top court’s verdict retaining Narendra Modi-led government’s unilateral, unconstitutional and unlawful decision to stripping the occupied Jammu and Kashmir of its special status on August 5, 2019.

PTI Founding Chairman recalled that the international community had guaranteed the basic right to self-determination to the oppressed people of Kashmir through UNSC’s resolutions. He made it clear that PTI would continue providing full diplomatic, moral and political support to its Kashmiri brothers and sisters in all circumstances.

PTI Chairman-for-life recalled that Kashmir was the main bone of contention between Pakistan and India. He emphasized that the then PTI government had strongly reacted when Modi-led government tried to alter the special status of Kashmir through unconstitutional, unlawful and cruel measures on August 5, 2019.

Imran Khan went on to say that we wanted to establish good ties with India while putting national interests first; how-

ever after the unacceptable and unconstitutional action of August 5, 2019, it was not possible because we did not want to compromise on the aspirations of the people of the occupied Kashmir for their vested interests.

PTI Founding Chairman pointed out that the current ruling clique imposed on the country put the important Kashmir issue on the back burner and bartered the sacrifices of Kashmiri peoples.

Imran Khan made it clear that the controversial and unlawful decision of the Indian top court would further complicate the Kashmir issue instead of helping to solve the decades-long conflict.

He vowed that PTI will continue to support the unprecedented and just struggle of the Kashmiri people for their freedom and right to self-determination with perseverance.

Published by Asad Nizami at Plot No 66-C, 1st Floor, 21st Commercial Street, Phase-II (Extension), DHA Karachi and printed at Ibn-e-Hassan Printing Press, Hockey Stadium, Karachi, for PT Print (Pvt) Limited. Ph: 021-35381208-9. Email: newsroom@pakistantoday.com.pk