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IF NEEDED, PAKISTAN READY TO FIGHT 300 BATTLES FOR KASHMIR: PM
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Friday, 15 December, 2023 I 30 Jamada Al-Awal, 1445
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TERMS INDIAN SC VERDICT POLITICAL GIMMICK TO CONSOLIDATE ILLEGAL OCCUPATION
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MUZAFFARABAD
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CALLS INDIAN ACTIONS IN IIOJK BREACH OF UN CHARTER, UNSC RESOLUTIONS AND INTERNATIONAL LAWS
STAFF REPORT
ARETAKER Prime Minister Anwarul Haq Kakar on Thursday said that people of Pakistan are ready to fight 300 battles for Kashmir if a war imposed upon them while reaffirming Pakistan’s moral, political and diplomatic support to the people of India Illegally Occupied Jammu and Kashmir. “The recent verdict of the Indian supreme court calling it a politically motivated and a tool to consolidate Indian illegal occupation”, Caretaker PM Anwaarul Haq Kakar declared, while addressing the Azad Jammu and Kashmir legislative assembly here on Thursday. He reiterated the historic stance that Kashmir is Pakistan’s jugular vein and that the country will continue “diplomatic and moral” support to Kashmiris in the struggle for their right to self-determination. PM Kakar called on India to desist from consolidating its occupation, revoke the illegal unilateral actions of August 5, 2019 and not change the demography of the disputed territory. Chaired by Speaker of AJK Legislative Assembly Chaudhry Latif Akbar, the session was attended by AJK Prime Minister Chaudhry Anwarul Haq and members of the Assembly. The prime minister also stressed upon India to halt the human rights
abuses in IIOJK, repeal emergency laws, withdraw heavy military presence and provide unhindered access to UN bodies and the international media. The prime minister, who was the first-ever caretaker PM to address the AJK Legislative Assembly, paid tribute to the martyrs of the Kashmir movement and those living along the Line of Control and suffered losses due to the Indian ceasefire violations. He said Pakistan would continue to stand alongside the people of Kashmir in their struggle and wished them to enjoy their due rights. “Kashmir is Pakistan’s jugular vein. The word “Pakistan” is incomplete with-
Court sends PTI founder on physical remand in Toshakhana case ISLAMABAD
STAFF REPORT
An accountability court on Thursday approved a twoday physical remand of Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan in Toshakhana case. Accountability Judge Mohammad Bashir issued the directives while conducting the hearing at Adiala Jail. During the hearing, the officials from the accountability watchdog requested 7-day physical remand of former prime minister which was turned down by AC judge. The court rejected the NAB request and approved 2day physical remand of Imran Khan. A day ago, An accountability court in Islamabad dismissed the pre-arrest bail plea of Pakistan Tehreeke-Insaf (PTI) founder Imran Khan in the Toshakhana case. The accountability court’s judge Muhammad Bashir announced the reserved verdict on Imran Khan’s pre-arrest bail plea in the Toshakhana case. On Monday, the Islamabad High Court (IHC) Monday reserved its verdict on the PTI founder’s plea seeking suspension of his conviction in the Toshakhana case. The plea was taken up by IHC Chief Justice Aamer Farooq and Justice Tariq Jahangiri. The verdict was reserved by the Islamabad High Court after hearing arguments from both sides. On October 21, 2022, the electoral watchdog, in a consensus verdict, had disqualified the former prime minister under Article 63(1)(p) and ruled that the PTI founder was no more a member of the National Assembly. The former prime minister was disqualified for making “false statements and incorrect declaration”. Khan, on October 28 last year, had moved the IHC against the decision and later sought withdrawal of the appeal on January 18, 2023. Toshakhana reference
Rs 15.00 | Vol XIV No 166 I 8 Pages I Islamabad Edition
out Kashmir. The people of Pakistan and Kashmir are bound by unique affinity. We share joys and sorrow. Pakistan cannot remain indifferent to the situation in Kashmir… Kashmir runs in our blood. Jammu and Kashmir remains an important facet of Pakistan’s foreign policy,” he remarked. He said across the political divide, the entire Pakistani leadership stood united to support Kashmiris for their right to self-determination. Giving a historical account, the prime minister said the Kashmiris had suffered enormously from conflicts in history. Even today, the situation has not improved as the majority was still under
the subjugation of an oppressor with a different name. Prime Minister Kakar told the House that Kashmir was the oldest unsettled agenda of the United Nations as the UNSC resolutions remained unimplemented and the Indian government was bent upon consolidating its occupation of disputed territory through a series of legislative and administrative measures. Referring to the Indian decision to take the Kashmir issue to the United Nations and repeated Indian leaders recognizing it as a dispute, he said the current Indian government must honor its longstanding commitment to UN resolutions. He said the Indian SC verdict was politically motivated instead of grounded in law to validate the illegal unilateral measures of August 5, 2019. The prime minister said considering its massive human rights abuses, the Indian title of “world’s largest democracy’ should be changed to “world’s largest hypocrisy” where hollow slogans of democracy and diversity were raised to cover up the marginalization of minorities, state-sponsored terrorism and illegal occupation. Calling the Indian actions in IIOJK a breach of the UN charter, the UNSC resolutions and international laws, he said the main objective of the Indian measures was to convert Kashmiris into a disempowered community in their land.
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SJC grants time till Jan 1 to Justice Mazahar Naqvi to submit reply to show-cause notice ISLAMABAD
STAFF REPORT
The Supreme Judicial Council (SJC) on Thursday directed Justice Sayyed Mazahar Ali Akbar Naqvi, who is facing allegations of misconduct, to submit his reply to the show-cause notice issued to him by Jan 1. Headed by Chief Justice of Pakistan (CJP) Qazi Faez Isa, the SJC comprises Justice Tariq Masood, Justice Ijazul Ahsan, Lahore High Court Chief Justice (CJ) Muhammad Ameer Bhatti, and Balochistan High Court (BHC) CJ Naeem Akhtar. It issued the directives as it conducted open proceedings of Justice Naqvi’s case after he filed an application seeking the same. On October 27, the SJC had issued a show-cause notice to Justice Naqvi in connection with 10 complaints lodged against him and directed the judge to submit a reply within two weeks. In a preliminary reply submitted on November 10, Justice Naqvi had cited “serious prejudice” against him and said CJP Isa, Justice Masood, and CJ Akhtar should recuse themselves and not hear the matter. On Nov 20, Justice Naqvi had contested the SJC proceedings against him and also challenged the show-cause notice issued to him by the council, stating the initiation of proceedings was coram non-judice and without lawful authority.
Subsequently, the SJC had issued a fresh show-cause notice to Justice Naqvi, with a direction to come up with his defence by filing a reply within a fortnight. On December 4, Justice Naqvi had again approached the apex court and expressed his intent to pursue the constitutional petition he had moved earlier seeking to quash the revised show-cause notice issued by the SJC. On Dec 6, Justice Naqvi had invited the attention of the SC committee comprising three senior-most judges to the silence over his petitions challenging the issuance of the show-cause notice (SCN) despite the lapse of time as stipulated in the Supreme Court (Practice & Procedure) Act, 2023. Justice Naqvi also wrote a separate letter to the SJC secretary, asking the latter to furnish several documents without which, the judge said, he would not be in a position to prepare his reply to the show-cause notice within time. In an open letter to the chief justice and all top court judges on Dec 12, Justice Naqvi had stated that the treatment offered to him by the SJC was “nothing short of disgraceful”. OPEN PROCEEDINGS: At the outset of the proceedings, CJP Isa noted that Justice Naqvi had filed an application through his counsel Advocate Khawaja Harris requesting open proceedings. “According to the rules, an in-
camera hearing is conducted to protect the judge,” he remarked. “Justice Naqvi himself requested to open proceedings which was accepted,” he said. When Justice Naqvi’s counsel came to the rostrum, CJP Isa asked Harris if a reply to the show-cause notice was being submitted today. “Justice Naqvi has not submitted his reply to the show-cause notice,” he replied. He said that despite repeated requests, the SJC’s record was not provided to Justice Naqvi. At this, CJP Isa remarked that the SJC could not compel someone to submit a reply. However, Harris argued that conditions could not be imposed on submitting a reply. “[We have] submitted repeated requests to the council. We require information to submit a reply,” he said, adding that the council did not respond to any of their requests. “The SJC is a separate constitutional body. You asked for open proceedings and we complied. Now don’t say you submitted numerous requests. Tell us what you need and we will give it. Tell us which documents you need,” CJP Isa remarked. Advocate Harris said that he wasn’t provided with ex-CJP Umar Ata Bandial’s note and Justice Masood’s opinion on the matter. CJP Isa then directed the SJC secretary to hand over the file to the lawyer, who then proceeded to read out loud the ex-CJP’s note.
COAS, US Defence Secretary discuss regional security, bilateral defence cooperation WASHINGTON AGENCIES
Chief of Army Staff (COAS) General Asim Munir called on US Defence Secretary Lloyd Austin in Washington to discuss the regional security situation and defence cooperation between the two countries. Pentagon spokesperson Maj. Gen. Pat Ryder said on Wednesday that Austin received Munir, who arrived in Washington on Sunday for a weeklong visit. “The two officials discussed recent regional security developments and potential areas for bilateral defence cooperation,” said Ryder. This is Gen Munir’s first visit to the US since being appointed chief of Army Staff last year. He is expected to meet with other senior US officials, including National Security Adviser Jake Sullivan. Washington is Islamabad’s one of the largest military and trade partners. His visit to Washington comes at a time when tensions between Pakistan and Afghanistan have grown following repeated militant attacks on Pakistani security forces in border areas with Afghanistan.
PTI’s Sher Afzal Marwat arrested from outside LHC under 3-MPO LAHORE
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) Vice President Sher Afzal Marwat on Thursday was arrested by Lahore Police from outside the Lahore High Court (LHC). “Marwat was leaving the high court premises after attending a lawyers’ convention when a heavy contingent of police overpowered him and dragged him by his collar to a police vehicle on The Mall,” PTI lawyers alleged. According to police, the PTI leader was arrested under 3MPO and shifted to Mazang police station. PTI Senior Vice President (SVP) Sher Afzal Marwat was detained outside the Lahore High Court (LHC) by uniformed personnel, the party said on its X (formerly Twitter) social media account. Footage of Marwat’s arrest shared by the PTI on X showed policemen dragging him by the collar as several lawyers tried to stop them. The PTI described the “abduction” as “absolutely shameful” and said it represented “the respect for courts in the eyes of those in power”. The party also urged LHC judges to ensure Marwat’s safe recovery. In a separate statement, it said Marwat’s arrest was a “manifestation of the prevailing lawlessness in the country and the fear and cowardice of the people in power”. “The aim of these unconstitutional and illegal tactics is to escape from the elections and impose on the public those who were brought under the ‘London plan’,” the PTI alleged, adding that the “continued silence of the judiciary” was encouraging such illegal actions. PTI Chairman Gohar Khan, while speaking to media persons outside the Election Commission of Pakistan in Islamabad, also condemned Marwat’s arrest. He said such actions against the party would affect free and fair elections in the country. PTI Secretary General Omar Ayub Khan said Marwat was apprehended by Punjab police when he was enroute to address lawyers in Lahore. “These tactics show the absolute moral bankruptcy of the illegal caretaker corrupt chief minister Mohsin Naqvi and a spineless Punjab Inspector General of Police Dr Usman Anwar.
Telenor finally packs up shop from Pakistan, what will change?
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WITH PTCL ACQUIRING TELENOR PAKISTAN, WHO IS SET TO BENEFIT MOST FROM DEAL? PROFIT
AHTASAM AHMAD
After more than a year of looking for buyers, Telenor Pakistan has finally been sold to Pakistan Telecommunication Company Limited (PTCL). The acquisition marks a 100% transfer of TPL’s (Telenor Pakistan Pvt Limited) equity to PTCL for an enterprise value of PKR 108 Billion on a cash free, debt free basis. The sale is part of Telenor’s strategy to exit the Asian markets where the operator has been lagging. It concludes the strategic review of the telco operations in Pakistan, which was announced in July 2022. The e& group (formerly Etisalat)backed, Pakistan’s partially-state-owned PTCL group acquired Telenor Pakistan through a share purchase agreement which was signed between Telenor B.V. and PTCL group. The completion of the acquisition is subject to regulatory approvals and customary closing conditions.
As per Sigve Brekke, CEO, Telenor Group, “Our decision to pursue the sale of our Pakistan operations follows 18 successful years of operations in the country, which started as a greenfield rollout. We are proud of the company Telenor Pakistan is today. It is an efficient and future-ready telco operator, with a strong distribution network and talented team serving 45 million customers. By selling to the country’s largest integrated ICT company, we believe this consolidation move would help strengthen Pakistan’s telecoms sector, creating opportunities in new areas of growth to the benefit of consumers in Pakistan.” The milestone will surely add to PTCL’s growth and market expansion, solidifying its position as a key player but what goes in the background? Why did telenor leave Pakistan? How and why did PTCL buy it and what does it all mean for the market and the consumers? Telenor’s Exit? Telecom companies in Pakistan have
one of the worst average revenue per user (ARPU) in the world, at $0.8/month and for the Norwegian company, ARPU was a big concern, considering that other subsidiaries of the Telenor group in countries like Malaysia, Thailand and Bangladesh were doing much better. Telenor entered the Pakistani market in 2005 and over the years managed to amass a subscriber base of approximately 45 million customers. However, operating in a highly saturated market presents its own challenges. One such challenge is the steady decrease in ARPU, which is a concern for the entire industry. For Telenor, ARPU was also affected by its strategy of targeting the low-income rural population in order to quickly build a significant consumer base. However, a similar strategy in India did not yield the desired results. Telenor initially experienced significant growth in the Indian market but faced a legal obstacle that drastically reduced its operations in the country. As a result, the
company restructured its operations to focus on low-value customers who primarily demanded voice and SMS services. With the rise of 3G/4G services and OTT apps like WhatsApp, Telenor began losing its stronghold in voice and SMS services and eventually exited the Indian market in 2017. The events leading to Telenor’s decision to exit the Pakistani market closely resemble what happened in India. While the telco’s targeted market consisted of low-income customers, it opted to acquire the 850 MHz spectrum at a substantial cost of $395 million when it came to purchasing spectrum for its 3G/4G services. Unfortunately, this investment did not yield the expected returns, as the frequency was supported by relatively expensive smartphones that were beyond the affordability of Telenor’s primary user base. However, there are additional factors to consider. Telenor and other telecommunications companies in the market also faced challenges related to spectrum and licence
fee rationalisation. For example, Telenor encountered difficulties with licence renewal fees, which it initially contested in the supreme court but received an unfavourable ruling. Alongside this, the worsening macroeconomic conditions played a role, leading Telenor ASA to write off $250 million of its Pakistani operations in the second quarter of the 2022 financial year. These challenges, coupled with an increased cost of capital resulting from interest rate hikes and a deteriorating political climate, made it increasingly impractical for Telenor to sustain its operations in Pakistan. All of this culminated in Telenor announcing its intention to exit the market in November of last year. However, it took a year for Telenor to find a worthy buyer, a buyer with enough foothold in the domestic market to take on additional consumers, and backed by a group large enough to have the risk appetite.
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02 NEWS
PAKISTAN LEADS ASIA’S FRONTIER MARKETS IN 2023: BLOOMBERG
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MoNitoRiNg Desk
AKISTAN’S stock market has emerged as one of the best performers in Asia this year, as improving macroeconomic conditions and a loan deal with the International Monetary Fund (IMF) boosted investor confidence, Bloomberg reported. The KSE-100 Index, which tracks the performance of the 100 largest companies listed on the Pakistan Stock Exchange, has surged more than 60% in 2023, making it the best performer among the Asian frontier markets, which include Bangladesh, Laos, Sri
LHC directs Punjab to notify Provincial Public Safety Commission, DPCs within 30 days
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Lanka, and Vietnam. The IMF approved a $3 billion loan package under the Standby Agreement (SBA) for Pakistan in July 2023, after the country agreed to implement reforms to address its fiscal and balance-of-payments crises. The loan has helped Pakistan secure additional financing from other lenders, such as the World Bank and the Asian Development Bank, and ease its external debt burden.
The IMF deal has also improved the macroeconomic outlook for Pakistan, as the government has taken measures to curb inflation, reduce fiscal deficit, and increase tax revenue. The central bank has also maintained the interest rate at 22% to support the currency and contain inflationary pressures. The improved economic conditions have translated into higher corporate earnings, especially for the banking, cement, and
DADU
staff RepoRt
Sardar Yasir Babbar, a prominent figure in the Pakistan People’s Party (PPP) hailing from Dadu Tehsil in Sindh, has joined Pakistan Muslim League-Nawaz (PML-N). He announced his decision after meeting with PML-N Sindh President, Bashir Memon, and Kheeal Das Kohistani. In this crucial gathering, Sardar Yasir Babbar extended his unwavering support and trust in the leadership of Nawaz Sharif and Shehbaz Sharif within the PML-N. Sardar Yasir Babbar also submitted an application seeking the ticket of PS Tarasi from Dadu. Furthermore, another key PPP leader from Badin, Jam Kamal Chang, is likely to join PPP ranks in coming days. PML-N Sindh chief Bashir Memon and former MNA Kheeal Das Kohistani met with former PPP MNA from Dadu Sardar Kamal Chang and extended him invitation to join PML-N.
energy sectors, which have benefited from higher interest rates, infrastructure spending, and lower oil prices, respectively. Analysts expect the positive momentum to continue in 2024, as Pakistan’s economy recovers from the impact of the Covid-19 pandemic and the government implements further reforms to enhance growth and competitiveness. Pakistan is not the only frontier market in Asia that has delivered impressive returns this year. Laos and Sri
PTI demands ECP to announce polls schedule immediately
LAHORE
PPP leader from Dadu joins PML-N
Lanka have also seen their equity benchmarks rise by 28% and 27%, respectively, as they have eased monetary policy and attracted foreign inflows. Bangladesh and Vietnam, which are among the fastest-growing economies in the region, are also poised for a rally in 2024, as they benefit from their strong domestic demand, export-oriented industries, and favorable demographics. Frontier markets are emerging markets that are less developed and less liquid than the mainstream emerging markets, such as China, India, and Brazil. They offer higher potential returns, but also higher risks, due to their political instability, regulatory uncertainty, and currency volatility. According to Asia Frontier Capital, a fund manager that specialises in frontier markets, these markets have a low correlation with the global markets and provide diversification benefits for investors. The firm also expects the frontier markets to outperform the emerging markets in the long term, as they catch up with their peers in terms of economic development and market maturity.
KSE-100 INDEX SURGED MORE THAN 60% IN 2023, MAKING IT BEST PERFORMER AMONG ASIAN FRONTIER MARKETS, WHICH INCLUDE BANGLADESH, LAOS, SRI LANKA, AND VIETNAM
staff RepoRt
The Lahore High Court on Thursday directed the Punjab government to notify the Provincial Public Safety Commission (PPSC) and District Public Security Commissions (DPCs) within 30 days. A single-judge LHC, comprising Justice Shahid Jamil Khan authored the six-page detailed order on a public interest petition, highlighting the ongoing failure to implement Section 37 of the Police Order 2002, which mandates the establishment of these crucial oversight bodies. According to the submitted report, the caretaker government had deferred the matter to the newly elected government, a move deemed by the court as “incompetent and a blatant postponement of legal responsibility.” Justice Shahid Jamil Khan strongly emphasized the importance of these commissions in ensuring effective public oversight of police conduct and promoting reforms within the force. He pointed out that despite the Police Order’s clear provisions, “no Public Safety Commission has been constituted since the enforcement of the order.” The court further criticized the disregard shown by both elected and caretaker governments towards this critical legal obligation. “If a public authority is not fulfilling its responsibility, it is violating the law and the constitution,” the judgment stated. It further lamented the lack of “continuity of elected representation” in the country, which has contributed to the persistent delays and lack of progress. In a decisive move, the Lahore High Court ordered the immediate implementation of Section 37 of the Police Order 2002. It directed the government to bring the representatives of the last local governments on board to expedite the formation of these essential commissions. This directive sends a strong message to the government, emphasizing the need for accountability and adherence to the rule of law in matters related to public safety and police reform. The court’s decision has been hailed by civil society groups and legal experts as a significant step towards improving police accountability and transparency in Punjab. It remains to be seen whether the government will comply with the court’s order and finally fulfill its legal obligation to establish the Public Safety Commissions within the stipulated timeframe.
Friday, 15 December, 2023 | ISLAMABAD
the election schedule. PTI Secretary General said: “PTI’s stance is very clear. We demand the immediate announcement of the election schedule so that the General Elections are held on February 8, 2024. 2.” Omar emphasized that PTI demanded that the ROs were from the judiciary because they did not trust the public servants to conduct free and fair elections given the recent track record of the biased illegal Caretaker Governments
ISLAMABAD
staff RepoRt
Pakistan Tehreek-e-Insaf (PTI) Secretary General Omar Ayub has categorically stated that PTI’s stance is absolutely crystal clear that free, fair and transparent general elections are on February 8, 2024; thus the Election Commission of Pakistan (ECP) should not use the decision of the LHC as an excuse to delay the announcement of
in Punjab and Khyber-Pakhtunkhwa (KP) and the equally biased Caretaker Federal, Baluchistan and Sind Governments. However, he made it clear that the election supervisor should not use the decision of the LHC to delay the announcement of the schedule. “ECP has continuously proven that it is an appendage of the federal government and used every opportunity to harm PTI and PM Imran Khan,” he added. PTI Secretary General noted that as far as the statements of the other political parties were concerned and especially PML-N President Shahbaz Sharif and JUI-F head Maulana Fazl-ur-Rahman, they had consistently used a range of excuses ranging from global warming, to snowfall and terrorism to delay the elections because they fear the wrath of the people of Pakistan due to the dismal performance of the PDM Government. “PTI’s stance is absolutely crystal clear – free and fair general elections on February 8, 2024 and the immediate announcement of the Election Schedule by the ECP – No excuses,” he maintained.
Service Industries announces restructuring plans for Tyres & Tubes segment g
FOLLOWING DEMERGERS, SRVI WILL RETAIN OWNERSHIP AND OPERATION OF REMAINING BUSINESSES, INCLUDING FOOTWEAR UNIT AND INVESTMENTS tioned scheme, contingent upon the finalization of relevant documentation and approval by the BoD of SRVI. In addition to the Tyres & Tubes segment, the BoD has also decided to demerge and transfer the Retail segment of SRVI, along with all relevant assets, operations, and liabilities, to another wholly-owned subsidiary of the company. Like the Tyres & Tubes segment, this process is subject to the finalization of relevant documentation and approval by the BoD of the company. Following the demergers, SRVI will retain ownership and operation of
PROFIT
News Desk
The Board of Directors (BoD) of Service Industries Limited (PSX: SRVI) has made significant decisions regarding the restructuring of the company’s Tyres & Tubes and Retail segments. According to the company’s notice to the Pakistan Stock Exchange (PSX), the BoD has opted to demerge and transfer the Tyres & Tubes segment, including its manufacturing facilities, to a wholly-owned subsidiary. The creation of this subsidiary will be facilitated through a court-sanc-
the remaining businesses, including its footwear unit and investments. The company aims to streamline its operations and focus on these retained segments post-restructuring. Moreover, the BoD has approved an increase in the long-term equity investment in Service Long March Tyres (Private) Limited (SLM), an associated/subsidiary company. The increase, up to Rs1.5 billion, will occur as and when required by SLM. This will be executed through the subscription, at par, of up to 150 million additional fully paid-up ordinary right shares of Rs10 each.
Searle gets approval for Pakistan’s first locally manufactured biosimilar drug
PROFIT
News Desk
The Searle Company Limited (SEARL), a leading pharmaceutical company in Pakistan, has received approval from the Drug Regulatory Authority of Pakistan (DRAP) for ADALIMUMAB, the first locally manufactured biosimilar drug in the country. Biosimilar drugs are copies of original biological medicines that have similar safety and efficacy profiles. ADALIMUMAB is a biosimilar of Humira, a widely used drug for treating various inflammatory diseases such as rheumatoid arthritis, psoriasis, and Crohn’s disease. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, SEARL said that it has developed ADALIMUMAB in collaboration with BioRay Biopharmaceuticals Co. Limited, a Chinese biotech company. The company plans to introduce the drug to the market within the next 3-6 months, aiming to provide high-quality, affordable biotechnology medicines to patients in Pakistan. SEARL’s CEO, Mr. Nadeem Ahmed, said that the launch of ADALIMUMAB is a strategic move that aligns with the company’s commitment to diversifying its product portfolio and enhancing its earnings and shareholders’ value. He also said that the company is expanding rapidly in several regions of the world, including South Asia, Southeast Asia, Africa, GCC, CIS, Canada, Europe, and Latin America. SEARL is one of the largest pharmaceutical companies in Pakistan, with a market capitalisation of over Rs 100 billion. The company produces a wide range of products, including branded generics, consumer health, and animal health products. The company also operates a stateof-the-art manufacturing facility in the UAE, which has recently received approval from the UAE ministry.
Thar coal power project attains $2bn financial milestone PROFIT
News Desk
The Private Power and Infrastructure Board (PPIB), a one-window facility of the federal government, announced the successful $2 billion financial closing for Pakistan’s largest Thar coal-fired power project. The project, operational in Thar, was developed by Shanghai Electric Corporation, China, and has a generation capacity of 1,320MW. This milestone was achieved under the China-Pakistan Economic Corridor (CPEC). The financial close agreement was signed by PPIB Managing Director Shah Jahan Mirza, Chief Executive of the project company Meng Donghai, and Chief Executive Officer of Industrial and Commercial Bank of China (ICBC), Karachi Branch Zhou Bo. Despite the challenges posed by the Covid-19 pandemic, the project company, with Shanghai Electric Group Corporation as the main sponsor, commenced construc-
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PROJECT BOASTS BEING SECOND-CHEAPEST POWER PROJECT IN TERMS OF FUEL COST, STANDING AT RS4.98/KWH
tion and completed the project on February 5, 2023, adhering to the stringent timelines set by the governments of Pakistan and China. Sino-Sindh Resources Ltd (SSRL) is
the coal supplier from Thar Block-1, and the project is funded by a consortium of Chinese lenders, including ICBC, China Development Bank, Bank of Communications Co. Ltd., China Minsheng Bank Corpora-
tion, Postal Savings Bank of China Co Ltd., and Agriculture Bank of China. Chinese Sinosure serves as the project’s insurer. The Thar power plant is based on state-of-the-art supercritical technology, meeting environmental standards set by the World Bank, International Finance Corporation (IFC), and Pakistan Environmental Protection Agency. The project boasts being the second-cheapest power project in terms of fuel cost, standing at Rs4.98/kWh. Not only does the plant contribute significantly to reducing the overall basket price of electricity, estimated at around Rs200 billion annually, but it also saves approximately $500 million in foreign exchange each year. The project is expected to generate nine billion units of electricity annually. With the successful financial close of this project, the total installed capacity of five commissioned Thar coalbased power projects has now reached 3,300MW, marking a substantial increase in indigenous fuel-based power generation.
ADB anticipates inflation relief in Pakistan through monetary measures g
REGION'S INFLATION OUTLOOK FOR CURRENT YEAR HAS BEEN ADJUSTED TO 3.5 PERCENT, DOWN FROM PREVIOUS PROJECTION OF 3.6 PERCENT PROFIT
News Desk
In its December 2023 ‘Asian Development Outlook,’ the Asian Development Bank (ADB) highlighted the ongoing constraints on Pakistan’s overall recovery, citing moderate confidence and high inflation eroding the purchasing power of its population. The Manila-based lending agency anticipates a decline in Pakistan’s inflation rate, which averaged 28.5 percent in JulyOctober. This expected easing is attributed
to fiscal consolidation and monetary tightening, coupled with improved availability of food and key imported inputs. While expressing concerns about Pakistan’s recovery, the ADB acknowledges the country’s efforts to address inflationary pressures through monetary measures and fiscal policies. The ADB’s insights are part of a broader regional outlook that projects economic forecasts for developing economies in the Asia-Pacific region. Contrary to Pakistan’s challenges, the ADB raised its economic forecast for the
Asia-Pacific region to 4.9 percent for the current year, up from its previous estimate of 4.7 percent in September. This adjustment is attributed to robust domestic demand, particularly in China and India, leading to higher-than-expected growth. China’s economy is projected to expand by 5.2 percent in 2023, surpassing the previous forecast of 4.9 percent. India’s growth outlook has also been revised upward to 6.7 percent from 6.3 percent, driven by fasterthan-expected expansion in July-September, particularly in the industrial sector.
ADB Chief Economist Albert Park notes that despite a challenging global environment, developing Asia continues to grow robustly. The region’s inflation outlook for the current year has been adjusted to 3.5 percent, down from the previous projection of 3.6 percent. For the following year, the inflation rate is expected to edge up to 3.6 percent. However, the growth outlook for Southeast Asia has been slightly lowered to 4.3 percent due to weak demand for manufacturing exports. Projections for economies in the Caucasus and Central Asia have seen a slight increase, while those for Pacific economies remain unchanged. Risks highlighted by the ADB include persistently elevated interest rates in ad-
vanced economies, potential supply disruptions due to the El Niño weather pattern, and geopolitical events like the Russian invasion of Ukraine. In the context of South Asia, the ADB has improved its growth forecast for the region to 5.7 percent in 2023, driven by higher-than-expected growth in India for the July-September quarter. Growth forecasts for the sub-region for 2024 remain at 6 percent, with no changes for other South Asian economies, including Pakistan. The ADB’s report emphasizes the importance of vigilance among governments in the Asia-Pacific region to ensure economic resilience and sustainable growth, given the prevailing uncertainties and risks.
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Friday, 15 December, 2023 | ISLAMABAD
PAKISTAN-CHINA TO PROMOTE JOINT VENTURES IN FURNITURE INDUSTRY
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ISLAMABAD
Staff RepoRt
delegation of Pakistan Furniture Council, headed by its Chief Executive Officer, Mian Kashif Ashfaq, arrived in Guangzhou to seek collaboration in the furniture industry with their Chinese counterparts. Talking to newsmen, the CEO said the exploration of joint ventures in the furniture industry signifies a proactive approach to leverage each country’s strengths in the
furniture sector, fostering innovation and sustainable growth. He said the primary objective of this delegation is to delve into potential export markets, foster collaborations, and explore opportunities for joint ventures in the furniture industry. The furniture industry in Pakistan is made up of numerous small and mediumsized businesses. Because of this, there is fierce competition in the market. Pakistan’s revenue from the furniture industry reached $800 million by the end of 2022. Pakistan’s major buyers of wooden fur-
Muzaffargarh horror: Man accused of killing, eating children arrested MUZAFFARGARH
DRAP recalls painkiller syrup from market ISLAMABAD
Staff RepoRt
The Drug Regulatory Authority of Pakistan (DRAP) on Thursday recalled three batches of Dolor DS painkiller syrup after the revelation that it lacks enough elements to cure the patients. The Dolor DS suspension is manufactured by Adamjee Pharmaceuticals Karachi. According to an alert issued by DRAP, Dolor DS 100mg/5mL Suspension (Batch # 1236,1237 and 1238) lacks the required quantity of Sodium that can cause reactions in patients. The regulatory authority further said the use of the painkiller syrup can cause pain in the body, weakness, throat swelling and eye infection. Adamjee Pharmaceuticals has been directed not to supply the three affected batches for sale in the market. The DRAP has advised consumers to stop using this product bearing the affected batch number(s). They are also asked to contact their physician or healthcare provider(s) if they have experienced any problem that may be related to using this product.
style encompasses a sense of elegance and tradition. Traditional Pakistani furniture is often made of quality wood, such as sheesham and walnut, and is known for its durability and timeless beauty. Therefore, collaboration between the two countries will help furniture associations, producers, suppliers, and customers at both ends. It will create more cooperation, cultural interchange, and economic development, moving the furniture sector forward in both regions, Gwadar Pro reported on Thursday.
South Punjab Mela gets in-principle nod, Cholistan Rally preps reviewed BAHAWALPUR
Staff RepoRt
Police have arrested a ruthless man accused of killing children and eating their meat in Muzaffargarh, Punjab on Thursday. According to the local police, three children were abducted from the Khan Garh area of Muzaffargarh five days ago. The culprit brutally murdered two of three underage children by slaughtering them in a gruesome manner and eating them. At the same time, seven-year-old Ali Hassan was recovered by the police on information provided by the locals. According to Ali Hassan, after slaughtering three-year-old Abdullah and one and half years old his sister Hafsa, the man cooked and ate their meat. The man also distributed the meat at a local dargah in Muzzaffargah.
niture are the United Kingdom, the United States, Sri Lanka, and Gulf countries including the United Arab Emirates, Saudi Arabia, Oman, and Kuwait. Pakistan’s handmade furniture is in high demand by high-end customers. The leading wood-furniture-making areas of Pakistan are Chiniot, Gujrat, Peshawar, Lahore and Karachi. Traditional Pakistani furniture design reflects the rich cultural heritage of the country. With intricate craftsmanship, beautiful carvings, and ornate details, this
Staff RepoRt
The caretaker government of Punjab has granted in-principle approval for a 7-day South Punjab Mela to be held in Bahawalpur, aiming to boost tourism and showcase the region’s vibrant culture. The decision came during a special meeting chaired by Chief Minister Mohsin Naqvi on Thursday, where arrangements for the upcoming 19th Cholistan Desert Rally were also reviewed. The South Punjab Mela, a first-ofits-kind event, is expected to attract large crowds and highlight the rich heritage, crafts, and traditions of the southern region. The exact dates and details are yet to be finalized, but the in-principle approval indicates the government’s
commitment to promoting tourism and cultural exchange in the area. Meanwhile, the meeting also focused on ensuring a successful Cholistan Desert Rally, considered the biggest jeep rally in Punjab. Provincial Secretary Tourism Raja Jahangir Anwar presented a detailed briefing, outlining plans to attract multinational companies as official partners and leverage the event to showcase the unique landscape and adventure potential of Cholistan. The Chief Minister emphasized the need for robust traffic management measures during the rally to ensure the safety and convenience of participants and spectators. He also directed the Tourism Department to procure tents for the event, potentially paving the way for the establishment of a tent hotel in Cholistan, a
move that could further boost tourism infrastructure in the region. Other officials including Provincial Minister Aamir Mir, Secretary P&D, MDT TDCP, and GM Operations TDCP also participated in the meeting, contributing to the discussions and ensuring smooth planning for both the South Punjab Mela and the Cholistan Desert Rally. The initiatives taken by the caretaker government signal a renewed focus on promoting tourism and cultural events in Punjab, with Bahawalpur and Cholistan emerging as key destinations for attracting local and international visitors. The success of these events is expected to not only revive the tourism industry but also create new economic opportunities for the region.
If needed, Pakistan ready to fight 300 battles for Kashmir: PM CONTINUED FROM PAGE 01
However, he said the domestic legislation and judicial verdicts could not absolve India of its obligations. He said, on the one hand, India wished to become a permanent member of the UN Security Council, while on the other its leadership took pride in trampling upon international laws. Such contradictions reinforced by the Hindutva ideology should be an eye-opener for the international community, he added. He said thousands of Kashmiris have been killed, thousands faced forced disappearances and pellet gun injuries and thousands of the women suffered molestation and that the human rights abused were also documented in
two of the UN reports. Questioning the conscience of the international community, he said despite killings, illegal detention of Kashmiri leaders and destruction of structures, India could not extinguish the flame of freedom from the hearts of Kashmiris. He said India was afraid of Kashmiri leader Syed Ali Geelani even after his death and sought the death penalty for another leader Yaseen Malik which manifested its failure to suppress the spirit of freedom. He said Pakistan and the Kashmiris rejected the Indian measures of gerrymandering of constituencies and measures to change the demography. The prime minister said the Kashmiris had long been deprived of normalcy in their land also hampering the development
Sara Sharif murder: Family denies murder of minor girl in England ISLAMABAD afp
The father of a British-Pakistani 10-year-old girl whose death sparked an international manhunt pleaded not guilty to her murder in a UK court on Thursday, together with two other family members. Sara Sharif’s body was discovered at her home in Woking, southern England, on August 10. A postmortem examination found she had sustained “multiple and extensive injuries” over a long period. Her father 41-year-old Urfan Sharif, her step-mother Beinash Batool, 29, and his brother Faisal Malik, 28, deny killing the girl. They entered their pleas via video link to London’s Old Bailey court. According to the BBC Urfan and Faisal appeared by video link from Belmarsh Prison, while Beinash appeared by video link from Bronzefield Prison. Sara’s body was found after an emergency call alerting officers was made from Pakistan by a man identifying himself as the father, according to detectives. The house was otherwise empty, and the manhunt continued with Interpol and Britain’s foreign ministry coordinating with authorities in Pakistan. The day before Sara’s body was found the three defendants had left the UK for Pakistan with Sharif’s five other children. They were arrested in September after disembarking from a flight from Dubai. The trial is expected to start in September 2024 and it is expected to last six weeks.
Jahangir Tareen to contest polls from Lodhran LAHORE
Staff RepoRt
owing to the fearful environment. He said Pakistan wanted good neighborly ties with India but its unilateral actions of August 5, 2019 had vitiated the environment leaving the onus on India to undo the situation. Pakistan wants peace with justice, not peace with injustice, he added. Coming to the belligerent statements by the Indian leaders regarding AJK, the prime minister reiterated that Pakistan Pakistan had exercised maximum restraint. Pakistan will never surrender to any form of threat or intimidation as the country stood firm to safeguard its sovereignty and interests. He said Pakistan had no issue with the Hindu belief but Hindutva as a considerable size of minorities in Pakistan enjoyed due rights and exercised freedom.
The newly-formed Istehkam Pakistan Party (IPP) handed over a list of constituencies to the Muslim League-Nawaz (PML-N) for seat adjustment. A meeting between the parties was held at the residence of PML-N leader Sardar Ayaz Sadiq here on Thursday which was attended by IPP leaders Ishaq Khakwani, Aon Chaudhry and Nauman Langrial. Former speaker Ayaz, Khawaja Saad Rafiq, Ata Tarar and Malik Ahmed Khan represented the PMLN. According to insiders, they discussed different options for seat adjustment and agreed to continue discussions. They said both the parties would likely to meet again tomorrow (Friday) and expressed the hope that an agreement on seat adjustment would be reached soon. The insiders revealed that IPP chief Jahangir Tareen would contest February 8 elections from Lodhran, Aleem Khan and Aoun Chaudhry from Lahore and Farrukh Habib from Faisalabad. However, Farrukh would contest elections from another constituency instead of Abid Sher Ali’s constituency.
Telenor finally packs up shop from Pakistan, what will change? CONTINUED FROM PAGE 01
ENTERS PTCL PTCL has had a rough ride in terms of turning around its cellular mobile wing, Ufone (Wireless). While PTCL’s other group companies have been doing well, Ufone lags behind. As per the 2023 quarterly financial results for the group, the bottom line of the group remained negative dragged down by high operational and finance costs of Ufone. Ufone’s abysmal performance over the past many years can be partially attributed to the strategic blunder of delayed entry into Pakistan’s 4G market. While other telecom operators like Zong, Jazz, and Telenor were quick to adopt 4G technology, Ufone remained the only company without 4G services for a significant period of time. This placed Ufone at a major disadvantage and resulted in a steep loss of market share. By the time Ufone finally launched its 4G services in August of 2019, other operators had already captured a large portion of the market, including Ufone’s highpaying customers. This late entry into the 4G arena proved to be too little, too late for Ufone users who were already enjoying the benefits of faster internet speeds and better connectivity. Furthermore, Ufone’s persistent reliance on 3G technology even after the widespread adoption of 4G by other operators negatively impacted its subscriber base. While the rest of the industry made a rapid shift towards 4G, Ufone still had a larger number of 3G subscribers compared to 4G subscribers. This inability to keep up with industry trends further contributed to Ufone’s decline. As if this was not enough of a drag on the profitability, Ufone subsequently acquired high amounts of debt to finance capital expenditure including spectrum payments. This led to a surge in finance costs post the rapid interest rate hikes in the past two years. All of this translated into Ufone being a minnow in the country’s telecom space. Prior to the acquisition, Ufone’s consumer base was at around 25 million subscribers, almost half of Telenor’s. But the question remains, what does Ufone in particular and PTCL Group in general has to gain from this acquisition?
THE SYNERGIES The acquisition, In terms of business, does wonders for the Group. Post merger, Ufone’s subscriber base is expected to cross 70 million, bringing it on par with Jazz, which currently is the largest player in the telecom sector. The move also leaves at Ufone’s disposal, the vast resources, and infrastructure network, not to mention the human capital and tech stack Telenor has developed over the years. “The recent strategic acquisition agreement with Telenor is set to propel Ufone toward substantial revenue expansion. Telenor Pakistan is a robust mobile operator and caters to approximately 45mn subscribers with reported revenue of Rs112 billion and an EBITDA margin of 43% based on last 12-month financials. Following the acquisition, Ufone’s subscriber base is expected to reach 70mn, bringing it on par with Jazz, which has been the largest player in Telecom sector.
This strategic move also positions Ufone to leverage Telenor’s resources and expertise, fostering synergies that will further enhance its positive trajectory,” remarked Waqas Ghani, Deputy Head of Research at JS Global Capital. Apart from consumers, Ufone gains a significant competitive advantage from the assets and infrastructure inherited from Telenor. With Ufone’s own telecom tower network combined with Telenor’s, totaling over 20,000 towers, The CMO is on the verge of controlling nearly 50% of the country’s entire tower market. Further, PTCL holds the position of the largest market player in the fiber infrastructure segment with its extensive 60,000 Km fiber network. This network plays a pivotal role in connecting the country’s telecom infrastructure, with PTCL serving all major CMOs. Coupled with the post merger tower network, the group is set to dominate the infrastructure segment. While explaining the operational benefits Aslam Hayat, the former Chief Strategy Officer at Telenor told Profit that, “The merger between Telenor and Ufone/PTCL is expected to bring numerous synergies for the merged company. Firstly, the spectrum of Telenor and Ufone in both 900 MHz and 1800 MHz are adjacent, which will provide a significant advantage to the merged company and better quality of service to their customers. The merged company will possess the largest telecom tower infrastructure in the country. After removing duplicates, the merged company can reuse the dismantled towers to further improve its coverage. Historically Telenor has better coverage in the rural areas of Pakistan, while Ufone has a stronger presence in urban centres. As a result, the merged company can benefit from improved coverage in both regions.” Spectrum is like an invisible highway that allows wireless devices to communicate with each other. It’s divided into different sections, just like lanes on a road. Each section is designated for different types of devices, such as cell phones, Wi-Fi, or television broadcasts. When we use our devices, they send and receive information through specific sections of the spectrum. It’s important for devices to use their assigned sections so they don’t interfere with each other’s signals. So, spectrum is like a carefully divided space that enables our devices to talk to each other wirelessly, ensuring smooth communication and avoiding any traffic jams. As per the former CEO of USF and ICT Policy & Regulation expert, Pervaiz Ifitikhar, “One of the key synergies resulting from the merger would be the utilisation of adjacent spectrums held by Ufone and Telenor. These spectrums offer numerous benefits to the company, such as increased bandwidth, improved network capacity, enhanced service coverage, and better interference management. Similarly, availability of infrastructure in rural as well as urban areas has its advantages. These advantages will enable the telco to deliver higher data speeds, accommodate more users, expand their coverage area, and minimise interference.” The acquisition’s financials also add up. As expounded by Mohammad Sohail from Topline Securities Research, “Assuming PTC raises debt of US$380mn at
18% (8% interest expense + 10% currency devaluation), the annual interest cost would be Rs19bn, compared to Telenor’s EBITDA of Rs112bn in the last 12 months. This along with the combined infrastructure of PTC, Ufone, and Telenor will unlock synergies, we believe.” He quotes the example of the Mobilink-Warid merger, reminding that in a press release from then, predicted Mobilink and Warid’s merger to create capital and operating expenditure synergies of about US$500mn. The combined revenue of both companies for the year leading to Sept 2015 was US$1.4bn. The PTCL CFO, when asked about the valuation of these synergies, did not quote a figure, and stated that it would only be revealed after the regulatory approvals but would definitely be more than Rs 108 billion (the acquisition cost). It is clear that Ufone not only wanted, but also needed telenor’s business, but it had a very fundamental problem. When telenor went up for sale, Ufone did not have the money to buy it. That was until October, the group was reported to have asked for a loan of $400 million from the International Finance Corporation, IFC. A bidding offer was made to telenor which was subsequently accepted. However when asked about the source of the financing, Group Chief Financial Officer PTCL, Nadeem Khan, did not disclose IFC’s name and stated that the financing channel was reliable enough for the Telenor Group to sign the SPA.
INDUSTRY’S RESPONSE Kamal Ahmed, the newly appointed Secretary General of the Telecom Operators’ Association of Pakistan termed the announcement of PTCL’s acquisition of Telenor Pakistan an important development in Pakistan’s telecom sector. He emphasised that the resulting structural change will be beneficial for both the telecom sector and its customers. Talking to media at a Press conference, PTCL Group CEO, Hatem Bamatraf said that, “With 4 players the telecom market was not sustainable. If we compare Pakistan to neighbouring countries, we are far behind and one reason for that is the structure of the market because players are not in a healthy position. It will benefit the entire market to have stronger players.” He said that we are trying to attain the best of both worlds, increasing revenues and improving services.
A WIN FOR THE CONSUMERS? When one predicts that the industry margins will improve and ARPU will go up, this automatically means an increase in prices. With less competition and only 3 players now left in the market, one of the key takeaways for customers is an expected increase in prices, however, an increase does not necessarily mean a bad thing. With more profitability, more money gets invested in capital pertaining to technological advancement. In such circumstances consumers reap the benefits in the longer run. While talking to the press, the PTCL group leadership also revealed that the brand strategy for Telenor is yet to be decided upon by PTCL. Meaning that the company is yet to decide upon what brand name would
be associated with the existing Telenor consumers’ sims. Pervaiz Iftikhar, Ex-Chairman USF also stated that “While the merger is good news for the industry as a whole, there is a lingering issue with the prevailing low average revenue per user (ARPU) that, if not addressed, can have detrimental effects on the remaining players. Additionally, Telenor’s departure signifies the departure of another reputable investor from the country, which has a negative impact on the overall perception of the Pakistani market.” Telecom sector experts suggest that policies like spectrum pricing in dollars, excessive taxation, high right of way charges are a major factor in driving out foreign investors. With Warid and Telenor gone, the government might need to look at a revision in its policy around governing telcos. It is also important to note that 62% of PTCL is owned by the government of Pakistan. Which means that any loan that it acquires means additional exposure on the national exchequer.
WHAT ABOUT TELENOR MICROFINANCE BANK AND EASYPAISA? Contrary to some claims, it is also important to address that despite being closely integrated with Telenor Pakistan, the leadership and ownership of Telenor Microfinance Bank remains the same. The bank as of now is jointly owned by Ant group (Alibaba) and Telenor’s Norwegian parent company. It was made clear by the PTCL leadership that the Share Purchase Agreement referred to the operations of Telenor the telco alone. With the previous ownership structure, Telenor Microfinance Bank enjoyed cross-marketing and other preferential pricing like the SMS costs for transaction prompts on USSD supported easypaisa accounts. These are likely to be discontinued/ However, the Telenor Group will still retain its ownership of the digital bank unless announced otherwise.
04 COMMENT
Oil over troubled waters
COP 28 declaration
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Apart from the loss and damages fund commitments, oil phase-out was the big achievement
HE Conference of Parties of the United Nations Climate Change Conference finally uttered the dread words “transitioning away from fossil fuels in energy systems”, but in “a just, orderly and equitable fashion.” The COP’s 28 edition, which met in Dubai over the last two weeks, had to go into overtime on Wednesday, as the world finally faced a reality that had become apparent years, if not decades, ago: if one wanted to reduce the greenhouse gases in the atmosphere, one would have to stop burning the hydrocarbons present in fossil fuels, mainly oil, though coal and gas were also worth mentioning. His met resistance from the oil exporting countries, and it was their insistence that led to these being mentioned as to be ‘transitioned away’ in a just, orderly and equitable’ fashion. That may be taken to mean that the oil exporters are to be left to export at will. There was no deadline given for the transition, though that will presumably come in the future. That means that apart from exporters, oil importers are under no pressure to make a transition. Pakistan is an example of an importing country. It would not be too happy with a phase-out, not just because of its inability to provide employment to the thousands of workers in oil exporting countries of the Gulf, who would lose their jobs if the Gulf oil exporters were to lose oil revenues. There is also the problem that it has recently placed reliance on a fossil fuel, coal, for power generation rather than renewables. Further, it might not be able to afford a phase-out, presuming it was technologically possible. Making a switch to electricity for transport would mean not just replacing the entire existing fleet of vehicles, but also developing a huge extra generational capacity. All of this required a vast amount of money, and it seems somehow unfair that Pakistan has to pay for the extravagance of the developed world. Thus it is that it has supported the setting up of a Loss and Damages Fund, to which developed nations which have announced some small contributions amounting to less than $1 billion, as opposed to the $400 billion needed this year alone to compensate for the losses suffered due to global warming and resulting climate change. Every state has got some such tale to tel.
at Penpoint m a nIaZI
HE Conference of Parties of the 2023 United Nations Climate Change Conference, COP28 as it is popularly known, was held this year in Dubai, the 8th annual meeting since 1992, was meant, as were its predecessors, to take measures policies to limit global temperature rises and adapt to impacts associated with climate change. This year, it foundered again over two issues which might not make sense if present trends continue: oil, and money. The increasingly frightful news being given by scientists in their reports to the Conference were showing that the desired 1.5°Celsius goal agreed for an increase in the global mean temperature in 2015 in the Paris Agreement, is not being meet. Unfortunately, the failure of countries to meet their commitments have made that goal improbable. That has probably led to the next phase, one which is being resisted fiercely by members of the Organization of Oil-Exporting Countries, which is to call for fossil fuel phase-out. OPEC is leading the charge, but the BRICS countries have also been fighting the idea of any caps on the emission of the Greenhouse gases (GHG) which are causing global warming. The GHG were emitted because the developed world burnt vast quantities of fuel on their way to industrialization. A number of Third-World countries, notably India and China, have objected to having caps imposed on their emissions at a time when they are approaching the takeoff stage in their development. Apart from the effect of their non-compliance, other aspirants to development have thrown in their lot with them. Now those proposing an end to global warming have taken the next step, and argue for a complete fossil-fuel phaseout. That has even more drastic consequences, for not only does it leave developed countries without any means of continuing their current lifestyles, but it also closes the door on developing countries becoming developed. COP 28 Chairman Sultan Al-Jaber is also the CEO of the Abu Dhabi National Oil Company Limited, making him the first representative of Big Oil to chair the Conference. OPEC countries have already hosted the Conference, Indonesia in 2007 and Qatar in 2012, but neither made the head of the national oil company as Conference Chairman. OPEC countries would mostly go broke if there was indeed a fossil fuel phaseout. Apart from them, the other major oil producer, the USSR, which makes up the OPEC+ when the time comes for setting quotas. From the peak of OPEC’s power, the 1973 oil embargo, the ‘so-called ‘oil weapon’ is now fighting for itself. Saudi Arabia led the fight in 1973, and it has done so now, delaying the draft of a final agreement to exclude the words ‘fossil fuel phaseout.’ Instead of a fossil fuel phaseout, the OPEC countries argue that the use of fossil fuels should be targeted. It is a truth that the use of fossil fuels, not their extraction and sale, causes the production of greenhouse gases. Of course, the decline in use would lead
Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Yousaf Nizami
Push and pull factors in youth migration Editor Umar Aziz M. A. Niazi Joint Editor
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Executive Editor
Young people are leaving for a reason Inam EllahI
AKISTAN, a country in South Asia, is home to a young and vibrant population. With a median age of just 22 years, the country’s youth are its most valuable asset. However, in recent years, there has been a growing trend of young people leaving Pakistan to seek better opportunities and a higher quality of life in other countries. This phenomenon has sparked concern among policymakers and has led to a debate on the underlying causes of this trend. In this article, we will explore some of the reasons why young people in Pakistan are increasingly choosing to move abroad. One of the primary reasons why young people in Pakistan are leaving the country is the lack of economic opportunities. Despite having a large and growing population, Pakistan’s economy has struggled to create enough jobs to absorb the influx of new workers. The country’s unemployment rate is currently around 4 percent, but this figure does not capture the true extent of underemployment and informal work. Many young people in Pakistan feel that their career prospects are limited, and that they are unable to earn a decent living in their home country. This is especially true for those who have acquired advanced degrees or specialized skills, but are unable to find jobs that match their qualifications. Another factor that is driving young people out of Pakistan is the political instability and insecurity in the country. Pakistan has long been plagued by sectarian violence, terrorism, and political unrest. These issues have made it difficult for young people to feel safe and secure in their daily lives. The country has also struggled with issues of corruption and governance, which have eroded public trust in institutions and made it difficult for young people to envision a future in which they can thrive. Education is another factor that is driving young people out of Pakistan. While the country has made significant strides in expanding access to education in recent years, the quality of education remains poor. Many young people feel that they are not receiving a world-class education that will prepare them for the global job market. This has led to a brain drain, with many of Pakistan’s brightest and most talented young people choosing to pursue higher education abroad. Social and cultural factors are also playing a role in the decision of young people to leave Pakistan. Pakistan is a conservative society with strict social norms and expectations. Young people who are looking to break free from these norms and pursue a more liberal lifestyle may
Friday, 15 December, 2023
feel that they are unable to do so in their home country. This is especially true for young women, who may face discrimination and harassment if they try to assert their independence and pursue their own goals. Finally, many young people in Pakistan are leaving the country because they feel that the grass is greener on the other side. They see the success stories of other young people who have moved abroad and are living the dream, and they want to be a part of that success. They feel that they can achieve more and live a better life in a country that offers them more opportunities and a better quality of life. There are several reasons why young people in Pakistan are choosing to move abroad.
to a decline in demand. At the same time, there is a catch. If fossil fuels are placed, it will be by renewables. There are two main uses for fossil fuels, electricity generation and transportation. At the moment, transportation is moving to electric power, but that means greater generation, which in turn means greater use of fossil fuels. A phaseout will require generation for both power and transportation, which means a major switch to renewables like hydro-, solar and wind. A sort of halfway house from petrol has been sought in natural gas, and is being pushed aggressively by gas producers like Russia and Qatar, but as also produces a GHG when burnt, which means it will be part of a phaseout. The conference Chairman has also stated that the science does not support a phaseout. That sounds suspiciously like the argument initially made by Big Oil: the science did not support the claims of global warming being caused by fossil-fuel use. A major reason for the resistance to a phaseout is that it would cost a lot. It would mean that power plants, and vehicles, including two-wheelers, would all have to be replaced. Not just by governments, but by individuals. One solution has been the proposed Loss and Damage Fund, which has received just $700 million in pledges, of the $400 billion estimated to be lost every year. Note: there has been no actual disbursement. The money is for a number of reasons. One is that while global warming can be laid at the doors of the developed world’s conspicuous consumption, its burden is falling on poor countries in the shape of extreme weather events. Not too long from now, it will take the shape of rising sea levels. While that will mean Karachi going under water, it will also mean many states, such as the Maldives or some Pacific island-states being submerged entirely. It is clearly unfair for poor Third World citizens, whose existences are precarious anyhow, to have to pay for FirstWorlders’ luxuries. A second reason is that it is one planet. The hunger and hopelessness of the poor crops and general deprivation caused by global warming will push people to migrate to richer areas. Like the countries of the First World. The recent flood of migrants from Africa to Europe has poor crops behind. Some mi-
grants are from conflict zones. However, those conflict zones owe at least some of their existence to global warming. It thus makes sense for the developed world to keep all of those refugees out by throwing money at their countries of origin. However, the countries giving the money have been used to having this money buy them influence where they send it. They are made uncomfortable by the idea of altruistic giving. They are worried about the money being embezzled because they know that that is what had been happening in the past. The countries which would get the money want it in grants, not loans. The reaction of caretaker PM Anwarul Haq Kakar, who asked for Pakistan to get its fair share, because it was affected by global warming, showed another problem with governments. Third World governments, like Pakistan, have all gone blithely into the debt trap, which is how the Third World has been controlled after colonialism. Now they see the Damage and Loss Fund as their path towards getting the foreign exchange necessary to service that trap. The problem with all countries, whichever World they might belong to, is that their thinking is purely nationalistic. There are two problems there. First, relatively minor, is that national boundaries do not necessarily coincide with geography sufficiently for one country to say that another’s problems are its own. To take a local example, if one concedes that smog from burning crop stubble is contributing to the smog in the Indus Plain, it is not really relevant whether the Indian or Pakistani peasant is responsible. Second, more important, is that all countries have to cooperate. Oil producers are right as nations to defend their right to sell their product. But what if there is nobody to buy, as will happen if the sale continues? Similarly, First World countries are right to be careful of their money, but what is the point of saving that money if the world goes down? The capitalist mantra, expressed in the movie Wall Street by Michael Douglas’s seminal character, Gordon Gecko, that “Greed is good”; will not work. Unfortunately, COP28 did not identify a new mantra which would work. The writer is a member of staff
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
The lack of economic opportunities, political instability, poor quality of education, strict social norms, and the allure of a better life are all factors that are contributing to this trend. While it is understandable that young people want to seek out new opportunities and experiences, it is also important to recognize that the loss of talent and skills can have a significant impact on a country’s development. Pakistan’s policymakers should work to address the underlying causes of this trend and create an environment that fosters growth, opportunity, and innovation. By doing so, they can ensure that the country’s young people are able to build successful and fulfilling lives in their home country, rather than seeking greener pastures abroad. The writer is a freelance columnist
Unending work
I am a resident of the Defense Housing Authority (DHA). I wake up with scary nightmares of pain-inflicting commute in the mornings, and find them turning into reality every morning. The unending road development work initiated across the area has become a rather troublesome affair for the commuters. The commute that used to take minutes now takes hours, making the journey uncertain and uncomfortable. The authorities need to expedite the development work. TEHNIAT ZAKIR KARACHI
Temporary relief
DEMOCRACY is a good, effective system, but the Pakistani version of it has its limitations. For the last 15 years, Dadu has been neglected, with the budget meant for water supply, roads, education and municipal services getting regularly misappropriated by the very people who are supposed to deliver. Dadu seems to have been hit by some calamity owing to exploitation of the local ‘electables’ who are equal partners in the crime. GULSHER PANHWER JOHI
Zionism at its worst
THE International Criminal Court (ICC) must issue an arrest warrant for the Zionist Prime Minister Benjamin Netanyahu and his abettors for the unimaginable war crimes in Gaza and West Bank. Netanyahu clearly outper- formed Ariel Sharon, the butcher of the Sabra and Shatila refugee camps in 1983, as a bloodthirsty mass murderer. Zionism is the main cause of the increasing death toll in Palestine. FAISAL HABIB KARACHI
Solar parks
There are several reasons why young people in Pakistan are choosing to move abroad. The lack of economic opportunities, political instability, poor quality of education, strict social norms, and the allure of a better life are all factors that are contributing to this trend. While it is understandable that young people want to seek out new opportunities and experiences, it is also important to recognize that the loss of talent and skills can have a significant impact on a countryÊs development. PakistanÊs policymakers should work to address the underlying causes of this trend and create an environment that fosters growth, opportunity, and innovation.
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THE Bhadla Solar Park is a solar power plant located in a desert in India’s Rajasthan area. It covers an area of 56 square kilometres and has a total installed capacity of 2,245 megawatts, making it one of the largest solar parks in the world. I wonder why the government has not built such solar parks in our desert areas to provide cheaper renewable energy to the masses. Proper homework must be carried out before the installation of solar parks in the country. MUMRAIZ KHAN KARACHI
Threat to survival
ARNOLD Toynbee, the renowned British historian, once propounded the theory of ‘challenge and response’. Toynbee theorised that those who cope with their changing environments can survive and the rest will face death; a certain death. Thus, a society can only survive and forge its way ahead if it can effectively respond to the changes taking place in the surroundings. Keeping in view the theorisation, we can see that our society has grown incapable of responding to the growing challenges of politics, economy, population and education. All these challenges, as rightly said by the historian, pose a threat to our survival. ANWAR SAYAB KHAN BANNU
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COMMENT 05
Israel has lost the war Friday, 15 December, 2023
while fighting a few hundred Hamas fighters with meaThe resilience of the Gazans is a lesson to all gre guns in their hands. The bravery of Hamas fighters
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Dr AbDus sAttAr AbbAsi
RADITIONS of courage and bravery clearly indicate that Israel has already lost the war against Hamas. Because, the mix-up which the Israeli side is showing on several fronts is indeed astonishing. We all know that there is no comparison between Israel and Palestinians in terms of military technology and weaponry. Hamas fighters seem far more professional and ethical than Israeli troops. Pictures and videos of hostages released from both sides clearly indicate that Hamas did follow wartime protocols and did not manhandle prisoners of war. On the other hand, hostages released by Israel clearly indicate cruelty on the part of Israel, as one of the ladies whom Israel set free was without the fingers of one hand. While almost every captive with Hamas was smiling and waving to Hamas soldiers when they were handed over to the Red Cross. Hamas strategists seem much more mature than their Israeli counterparts, because, despite extensive casualties, meagre resources and absolute annihilation of life and relevant resources which facilitate life of human beings, still you will notice exceptional confidence in the statements of Hamas spokespersons. I was astonished to notice one of the recent statements of a Hamas spokesperson addressing Israeli soldiers that they have only four options if they invade Gaza: be ready to die or face permanent disability or bear the abduction or live the rest of your life in insanity. Social media platforms are helping us getting details of ongoing war, at the same time these applications have become incredible sources of expressions. One of the WhatsApp posts was simply amazing portraying a young Palestinian with his roots deep into the land of Palestine standing with open arms facing fighter planes, gunship helicopters and tanks, a true reflection of on-ground realities. The military might of Israel has proven useless
stands tall and visible while Israeli soldiers are seen hiding behind their trenches and covering up in armed vehicles and tanks. Hamas fighters are seen in several videos simply approaching tanks from a specific angle, putting explosives and fleeing to observe the destruction of the tank from a safe distance while Israelis seem helpless despite the support of sophisticated technologies facilitating their movement and operation in a strip of a mere 365 sq km. It clearly indicates that Israel is absolutely not capable of surviving in a full-scale war. It is not today alone that the people of Gaza are suffering the brutality of Israel. They have lived in extreme poverty and lack of fundamental resources due to barbarian control of Israel over the Strip. Gazans have been denied their legitimate right of convenient access to the rest of the world, making Gaza a real-life human cage in these modern times when we champion not only human rights but the rights of animals living on our planet. How can we justify our complacency, our silence, and our indifference? It seems just normal on TV screens that Hamas has a network of tunnels for both combat purposes and their survival. Have we ever imagined the suffocation and congestion for life in the tunnels? We didn’t, because we portrayed them as terrorists forgetting the fact that they are being deprived of their fundamental right of having an independent state according to the UN’s Resolution 181(II) which proposed Palestinian independent state with Jerusalem as an internationalized city. If we don’t extend due rights to any creature on this planet, it reacts, tries to find space for survival and fights for life. The same is happening with the Gazans. They have been pushed to dead ends in every direction. If they don’t respond they will die of hunger and starvation, and if they respond they will die as martyrs; they finally
opted for the second option to end their temporary life, as we all have to, with pride and honour. Gazans opted to find any possibility of survival underneath in the tunnels when they lost any hope of life on the earth. The entire humanity, except a few, stood with Gazans suggesting their resistance as legitimate and appropriate. Those few who are on the side of Israel will witness embarrassment in the long run because truth always prevails and the truth is that Gazans are human beings and they deserve a bare minimum of treatment as genuine members of the human race on this planet. Israel is behaving as a psychiatric patient who feels pleasure in extending pain to other living beings. We can’t forget a Gazan embracing his five-year=old daughter who had died in Israeli bombing. He was opening the eyes of his daughter and looking into her dead but bright eyes and then hugging and squeezing her in his arms with emotions which were extremely difficult
Israel is struggling to handle the legitimate resistance of Hamas, seeking help from the USA and UK, which makes it obvious that Israel has already lost the war. Even if Israel completely eliminates Hamas, which seems unlikely, still Israel will be considered a loser in the war due to the brutality and crimes during war such as using phosphorus, targeting women and children, bombing hospitals and refugee camps, destroying mosques and churches and stripping men naked after arresting them from northern Gaza.
The road to nuclear proliferation in the Middle East
to endure for those who watched the clip. The entire land of Gaza has been plagued by the Israeli barrage with thousands of kilograms of ammunition. Hospitals have gone into rubble, ruining lives of the wounded, the newborn, women and the elderly. People are obliged to use sewage water as if they were animals, not the descendants of Adam and Eve. We witnessed dozens of instances after Israeli bombardment when children were rescued while their limbs were waving like cloths on a rope. A child helping his brother and educating him how to use crutches after an Israeli bomb had blown off his leg was simply amazing to observe, as an example of the endurance of Gazans. A lady dragging a wheelless pram with two kids became an emblem of helplessness; another child sleeping on the rubble of his house; kids sitting with an arm sticking out of a pile of rubble and so on, there are innumerable happenings appearing on social media platforms which clearly indicate the brutalities of Israel. Israel is struggling to handle the legitimate resistance of Hamas, seeking help from the USA and UK, which makes it obvious that Israel has already lost the war. Even if Israel completely eliminates Hamas, which seems unlikely, still Israel will be considered a loser in the war due to the brutality and crimes during war such as using phosphorus, targeting women and children, bombing hospitals and refugee camps, destroying mosques and churches and stripping men naked after arresting them from northern Gaza. All these are war crimes and certainly need investigation to bring the likes of Israeli PM Benjamin Netanyahu to the court of justice to punish them for the rest of their lives. So as to exhibit at least an ounce of humanity if we still have any in our existing standards of civilization.
The writer is Associate Professor of Management Sciences and head, Center of Islamic Finance, COMSATS University Islamabad, Lahore Campus
Albert Camus and Gaza: ‘Even in destruction there is an order, and there are limits’ The French Nobel Prize winner’s play ‘The Just Assassins’ and Steven Spielberg’s movie ‘Munich’ reflect on how violence and revenge end up consuming those who exercise it
Congressional attempts to chastise Saudi Arabia may inch it closer to nuclearization, with catastrophic consequences
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NATIONAL INTEREST
eric borDenkircher
ENATE Resolution 109, drafted by Senator Chris Murphy (D-CT) and co-sponsored by Senators Bernie Sanders (D-VT), Elizabeth Warren (D-MA), Dick Durbin (D-IL), and Mike Lee (RUT), needs to be permanently retired. The resolution represents the latest attempt in Congress to reform relations with the Kingdom of Saudi Arabia and terminate U.S. involvement in Yemen. However, the continual repackaging of how to reform relations and terminate involvement is a pointless endeavor that portends another disastrous Congressional foreign policy initiative in the Middle East. Upon its adoption, the resolution requests information about Saudi Arabia’s human rights practices from the Secretary of State. If the requested information demonstrates that the kingdom violates human rights (an inevitable outcome), the United States must deny security assistance. The denial of security assistance would entail terminating U.S. assistance of the Saudi-led intervention in Yemen. Senators Murphy, Sanders, Warren, Durbin, and Lee cannot see the forest for the trees in the Middle East. Their obsession with punishing Saudi Arabia and rectifying a minor foreign policy issue (U.S. support for the Saudi intervention in Yemen) blinds them to larger, more pressing U.S. foreign policy concerns and objectives. Ending U.S. support for the Saudi-led intervention in Yemen elevates the possibility of doomsday scenarios. It antagonizes volatile dynamics in the Middle East by incentivizing the proliferation of nuclear capabilities. The proliferation of nuclear capabilities in the Middle East threatens U.S. security, undermines U.S. interests, destabilizes the region, and places the international economy on the precipice of ruin. The connection between supporting the kingdom in Yemen and the proliferation of nuclear capabilities dates back to 2015 when President Obama was in the final stages of negotiating the Joint Cooperation Plan of Action (JCPOA), more commonly known as the Iran nuclear deal. The Obama administration’s attempt to reach a settlement on Iran’s nuclear ambitions heightened fears of abandonment and increased a sense of vulnerability in Riyadh. Saudi Arabia saw the JCPOA as a de facto rapprochement between Iran and the United States and, thus, the betrayal of a seventy-eight-year-old ally. Why? Saudi Arabia believes the Islamic regime in Iran is an existential threat to the kingdom and a destabilizing regional force. The Iranian regime’s revolutionary ideology and pursuit of nuclear capabilities—uranium enrichment infrastructure— are promises of that hazard; support for militias that destabilize
the region are its manifestations. In the months leading up to the signing of the JCPOA, Saudi Arabia and other Arab countries threatened to match the nuclear enrichment capabilities provided to Iran by the proposed deal. To secure the JCPOA while forestalling the spread of nuclear capabilities and assuaging Saudi Arabia’s concerns, President Obama committed to continuing to support and defend Saudi Arabia. According to Obama, “The protection that we provide as [the Gulf countries’] partner is a far greater deterrent that they could ever hope to achieve by developing their own nuclear stockpile.” Limited American participation in the Saudi-led intervention in the Yemeni civil war is one aspect of that commitment to protect the kingdom. Saudi Arabia believes its intervention is critical to thwarting the Iranian threat on its southern border. The Houthis, an Iran-funded and inspired militia, seek to assert their authority in Yemen. The periodic drone and missile strikes on Saudi Arabia by the Houthis continue to validate the kingdom’s fears and rationale for using military force to crush the militia. The geopolitical dynamics in the Gulf demonstrate that the passage of Resolution 109 would engender considerable fallout. Withdrawing the U.S. commitment to protection in Yemen sows further distrust in the kingdom. Is the United States taking Saudi security seriously? If Washington were to go back on its word regarding Yemen, would it keep it on other matters Riyadh considers critical to its security? If America’s commitment to the kingdom’s security is diminished, the Saudis will inevitably seek alternative measures to protect themselves. One possibility is the pursuit of nuclear capabilities. As demonstrated by the Obama statement, the kingdom perceives nuclear capabilities as a means to deter the Iranian threat. The Saudi pursuit of nuclear capabilities would ignite a race toward nuclear proliferation in the Gulf. Saudi actions will dash the Senators’ hopes of resurrecting the JCPOA. Iran will have no incentive to re-enter an agreement that restrains its nuclear aspirations but not those of its rival. Other Arab countries could follow the Saudi and Iranian example. The development of nuclear weapons could follow the acquisition of nuclear capabilities. And then there is Israel. The Netanyahu government cannot tolerate a nuclear Iran. Israel will be compelled to strike Iranian nuclear facilities. What comes next? Possibly a regional war. The fallout from the passage of Resolution 109 will extend to the global markets. The proliferation of nuclear capabilities in the Gulf places the international economy on an increasingly precarious footing. As a significant source of oil and gas, the Gulf region remains a linchpin of the world’s economic well-being. A lack of reliable access to the region’s vast oil and gas reserves will be the least of U.S. worries should nuclear proliferation occur. The road to hell is paved with good intentions. Senator Murphy’s Resolution and its co-sponsors’ attempt to reform relations and rectify a minor U.S. foreign policy issue is shortsighted. They actually further complicate a challenging geopolitical environment. Passage of the resolution would make supporters complicit as harbingers of a Middle East rife with nuclear proliferation. Therefore, Resolution 109 needs to be permanently retired.
Eric Bordenkircher, Ph.D., is a research fellow at UCLA’s Center for Middle East Development. He tweets at @UCLA_Eagle. The views represented in this piece are his own and do not necessarily represent the position of UCLA or the Center for Middle East Development.
A
EL PAIS
Guillermo AltAres
LBERT Camus, the 1957 Nobel Prize winner in Literature and one of the writers of the 20th century who has left the deepest mark on the 21st, premiered The Just Assassins in 1949. Inspired by real events, the play tells the story of a group of terrorists who want to attack the Russian Grand Duke. Two of them, the idealists Dora and Kaliayev, are in love, but willing to give up everything— their love, their life— for a higher cause: the hope of bringing freedom and justice to the Russian people. But the French playwright and novelist knew how to introduce in one short text all the contradictions and dilemmas of political violence, even when one is defending a just cause. When the float with the duke and duchess passes by, Kaliayev is unable to throw the bomb because two children are also on it—a dilemma that Brian De Palma copied in a key scene from Scarface, when Tony Montana refuses to kill a politician because he has his children in the car. And that leads to the most important scene of the play, which pits Dora and Kaliayev against the fanatic Stepan, who defends that any death is justified by a higher cause. These are some excerpts from this crucial moment. “KALIAYEV: If you decide that those children must be killed, I will wait until the theater exits and I will throw the bomb on the float alone. I know I won’t fail. Decide and I will obey the organization. STEPAN: The organization had ordered you to kill the Grand Duke. KALIAYEV: That’s true, but it hadn’t asked me to murder children.
DORA: Open your eyes and understand that the organization would lose all its power and influence if it tolerated, for a single moment, children being destroyed by our bombs. STEPAN: I don’t have enough heart for such trifles. When we decide to forget those children, that day, we will be the owners of the world and the revolution will triumph. FOKA: That day the revolution will be hated by all humanity. DORA: Yanek’s ready to kill the Grand Duke because his death may help to bring nearer the time when Russian children will no longer die of hunger. That in itself is none too easy for him. But the death of the Grand Duke’s niece and nephew won’t prevent any child from dying of hunger. Even in destruction there is an order – and there are limits. It is inevitable to think about this scene during these days of horror in Israel and Gaza. As it is inevitable to remember the film Munich by Steven Spielberg, perhaps the most courageous and complex movie by the American director. It was released in 2005, in the midst of George W. Bush’s war on terror, during which the U.S. Administration engaged in massive human rights violations following the terrorist attacks of September 11, 2001 and just as the invasion of Iraq, based on lies, had devolved into a disaster. In Munich, Spielberg, who based the movie on a script co-written by Eric Roth and Tony Kushner, tells the story of how Israel, under the government of Golda Meir, orders a group of Mossad agents to kill the masterminds behind the massacre of the Israeli team at the 1972 Olympic Games in Munich. The film reflects on revenge and leaves in the air the idea that, when a country breaks its own laws to defend a just cause, it ends up being consumed by that contradiction. When she launches the command, Golda Meir’s character states: “Every civilization finds it necessary to negotiate compromises with its own values.” But, at the end of the film, the person in charge of the operation maintains: “Every man we’ve killed has been replaced by worse! There is no peace at the end of this, no matter what you think. And you know it’s true.” The last scene — a spoiler alert is probably unnecessary for a film released nearly 20 years ago — shows the Twin Towers among the skyscrapers of southern Manhattan, alluding to the fact that revenge did not stop terrorism, rather the contrary, it only contributed to destroying the values that those who started it believed they were defending.
06 NEWS
WHITE HOUSE’S SULLIVAN DISCUSSES GAZA WAR WITH SAUDI CROWN PRINCE
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WASHINGTON AGENCIES
HITE House national security adviser Jake Sullivan met with Saudi Crown Prince Mohammed bin Salman in Saudi Arabia on Wednesday to discuss efforts to create a sustainable peace between Israelis and Palestinians, the White House said. They also discussed the humanitarian response in Gaza, including how to increase the flow of critical aid to the Palestinian enclave, as well as a range of bilateral issues, the White House said in a statement. Sullivan will travel to Israel on Thursday and hold talks with Israeli Prime Minister Benjamin Netanyahu and members of the Israeli war cabinet on Thursday and Friday.
US negotiations aimed at reaching a deal normalizing relations between Israel and Saudi Arabia were halted by the Gaza-based Hamas militant group’s Oct. 7 attack on southern Israel in which 1,200 people were killed and more than
US House launches impeachment inquiry against President Joe Biden WASHINGTON AGENCIES
The US House of Representatives voted Wednesday to formalize an impeachment inquiry into President Joe Biden, escalating Republicans’ battle with Democrats ahead of the 2024 election in a move Biden himself slammed as a “baseless” stunt. Republicans, seizing on Biden’s son Hunter’s controversial international dealings, have yet to provide evidence of corruption by the president, and the Democratic-led Senate would be unlikely to convict him even if the inquiry did lead to an actual impeachment trial. Regardless, the procedure guarantees Republicans a new, high-profile platform to attack Biden as he campaigns for reelection — and to distract from the federal criminal trials facing his almost certain challenger Donald Trump. The vote of 221 to 212 was along strict party lines, with every Republican voting for it and every Democrat against. Conservatives accuse Biden’s troubled son Hunter of influence-peddling — effectively trading on the family name in pay-to-play schemes during his business dealings in Ukraine and China. The allegations against Hunter Biden refer to incidents that took place before his father became president, and the White House has stressed there has been no wrongdoing. Biden himself responded immediately after the vote, accusing Republicans of stalling on key fronts — such as funding government — while obsessing over scoring political points ahead of the election. “Instead of doing anything to help make Americans’ lives better, they are focused on attacking me with lies,” Biden said in a statement. “Instead of doing their job on the urgent work that needs to be done, they are choosing to waste time on this baseless political stunt that even Republicans in Congress admit is not supported by facts.” Republicans insist the work has merit.
200 taken hostage. On the other hand, Gaza’s health ministry estimates that more than 18,000 people in Gaza have been killed. All sides have said they want to resurrect the deal when the time is right.
US officials said Sullivan would also discuss with the Saudis efforts to deter ongoing Houthi attacks against international commercial vessels in the Red Sea. White House national security spokesperson John Kirby told reporters that during his visit to Israel Sullivan would discuss with the Israelis the need for more surgical and precise strikes against Hamas targets in Gaza. US President Joe Biden said on Tuesday that Israel is losing support over its “indiscriminate” bombing of Gaza and that Netanyahu should change, exposing a new rift in relations with the Israeli prime minister. Sullivan and the Saudi crown prince also discussed areas of deepening bilateral cooperation in the fields of security, commerce, space exploration, and advanced technologies, including open radio access (O-Ran) networks, the White House said.
Protecting Smokers' Rights In the realm of public health, smoking has long been a contentious issue. The well-documented health risks associated with tobacco use have led to concerted efforts worldwide to curb smoking rates and protect non-smokers from secondhand smoke. While these efforts have led to some progress in reducing smoking prevalence, the reality remains that many individuals choose to continue smoking. Of course, quitting smoking is undoubtedly the ideal goal from a health perspective, it is, however, essential to acknowledge that some people want to continue smoking. Harm reduction strategies that encourage smokers to switch to less harmful alternatives can be a pragmatic approach to improve overall public health. In the interest of public health, it is essential to strike a balance that also protects the rights of smokers. Smokers should have access to accurate information about the risks associated with smoking and the available alternatives For a consumer base that is increasingly open to innovation made possible by advancements in scientific research and technology, alternatives have gained traction
with smokers in recent years, as they work by heating tobacco or a liquid that contains nicotine, producing a vapor that is inhaled by users. More importantly, it eliminates the combustion of tobacco, which is responsible for the majority of harmful chemicals in cigarette smoke and that lead to the development of smoking related diseases. Dr. Marwa Aly Al-Shamy, a respected Chest Diseases Consultant at Alexandria University Hospital, emphasizes the importance of informed choices for smokers who do not want to quit. "For individuals who choose to continue smoking, it is crucial to consider alternative low-risk, smoke-free products, such as heated tobacco options, nicotine pouches, vapes, e-cigarettes," she states. "Scientific research has convincingly demonstrated that the majority of smoking-related harm stems from the combustion process inherent to cigarettes." She further elaborates on the potential of heated tobacco technology: "These innovations can reduce harmful emissions from traditional cigarette smoke by as much as 95%, offering a promising path to reduced harm. However, it's essen-
tial to note that these alternatives are not entirely risk-free." "Smoking is a well-established health risk. Numerous research studies have underscored the dangers associated with this habit. Consequently, various organizations are dedicating significant efforts to implement harm reduction strategies in smoking, harnessing innovative technologies to make a difference." Dr. Al-Shamy's insights underscore the significance of harm reduction in the pursuit of better health outcomes for individuals who wish to continue to smoke. As Pakistan continues to work towards reducing smoking rates and safeguarding public health, it must also protect the rights of smokers and provide them with the knowledge and options they need to make informed choices. Efforts should entail discouraging smoking while allowing for less harmful alternatives in case one chooses to continue smoking, so as to mitigate the risks associated with tobacco use. By striking a balance between public health goals and respecting individual rights, we can create a more inclusive and effective approach to addressing the complex issue of smoking.
Gaza faces ‘perfect storm’ of deadly diseases GAZA
AGENCIES
For the besieged residents of Gaza who have so far survived Israel’s bombs and bullets, a silent, invisible killer is now stalking them: disease. A lack of food, clean water and shelter have worn down hundreds of thousands of traumatised people and, with a health system on its knees, it’s inevitable epidemics will rip through the enclave, 10 doctors and aid workers told Reuters. “The perfect storm for disease has begun. Now it’s about, ‘How bad will it get?'” James Elder, chief spokesperson for the UN children’s fund (UNICEF), said in an interview on Tuesday. From November 29 to December 10, cases of diarrhoea in children under five jumped 66% to 59,895 cases, and climbed 55% for the rest of the population in the same period, according to data from the World Health Organization (WHO). The UN agency said the numbers were inevitably incomplete due to the meltdown of all systems and services in Gaza
because of the war. The head of the paediatric ward at Nasser Hospital in Khan Younis southern Gaza, Dr. Ahmed Al-Farra, told Reuters on Tuesday his ward was overrun with children suffering extreme dehydration, causing kidney failure in some cases, while severe diarrhoea was four times higher than normal. He said he was aware of 15 to 30 cases of Hepatitis A in Khan Younis in the past two weeks: “The incubation period of the virus is three weeks to a month, so after a month there will be an explosion in the number of cases of Hepatitis A.” Since the truce between Israel and Hamas collapsed on December 1, hundreds of thousands of people have moved to makeshift shelters – abandoned buildings, schools and tents. Many others are sleeping in the open with little access to toilets or water to bathe, aid workers said. At the same time, 21 of the Gaza Strip’s 36 hospitals are closed, 11 are partially functional and four are minimally functional, according to WHO figures from December 10.
Marie-Aure Perreaut, emergency medical coordinator for MSF’s operations in Gaza, said the medical charity had left a health centre in Khan Younis 10 days ago – because the area was within Israel’s evacuation orders – where it had been treating respiratory tract infections, diarrhoea and skin infections, She said two things were now inevitable. “The first is an epidemic of something like dysentery will spread across Gaza, if we continue at this pace of cases, and the other certainty is that neither the ministry of health nor the humanitarian organisations will be able to support the response to those epidemics,” she said. ‘Practice of medicine is under attack’ Academic researchers at the London School of Hygiene & Tropical Medicine warned in a November 6 report – a month after the Hamas attack on Israel triggered the Gaza war – of how the indirect health effects of the conflict would worsen over time. They said that two months into the war there would be an increased burden of infant malnutrition.
Friday, 15 December, 2023 | ISLAMABAD
Israeli strikes length of Gaza as US calls for more accurate targeting CAIRO/ GAZA AGENCIES
Israel pounded the length of the Gaza Strip on Wednesday, killing families in their homes even as Washington dispatched an envoy to encourage its ally to be more precise in its war against Hamas. Two weeks after a truce collapsed, the war has entered an intense phase, with fighting now raging across the entire Palestinian enclave and international organisations warning of a complete humanitarian catastrophe. In Rafah, jammed with people in makeshift tents on Gaza’s southern edge, women and men wept at the morgue where the bodies of those killed in the latest overnight air strikes were laid out wrapped up in bloodied shrouds. Some were small children. The adjacent homes of the Abu Dhbaa and Ashour families had been obliterated by a massive air strike, and residents were picking folornly through the rubble. Gaza health authorities said 26 people had been killed there. Neighbour Fadel Shabaan had rushed to the area after the bombing. “It was difficult because of the dust and people’s screams. We went there and we saw our neighbour who had ten martyrs. This is a safe camp, there is nothing here, the children play soccer in the street,” he said. Israel has brushed off calls for a ceasefire, including a resolution at the UN Security Council blocked by a US veto last week and another that passed overwhelmingly in the General Assembly this week. Washington has provided diplomatic cover for its longstanding ally, but expressed increasing alarm over civilian deaths. President Joe Biden went further this week, describing Israeli bombing as “indiscriminate”. White House national security adviser Jake Sullivan, who will be in Israel on Thursday and Friday, will discuss with the Israelis the need to be more precise with their strikes, spokesperson John Kirby said. Up to 45% of the 29,000 air-to-ground munitions that Israel has dropped on Gaza since Oct. 7 have been unguided “dumb bombs” according to a US intelligence assessment reported by CNN. Agriculture Minister Avi Dichter, a member of Israel’s security cabinet and Prime Minister Benjamin Netanyahu’s Likud party, rejected Biden’s characterisation of Israels strikes as indiscriminate. “There is no such thing as ‘dumb bombs’. Some bombs are more accurate, some bombs are less accurate. What we have is mostly pilots who are precise,” he told Army Radio. “There is no chance that Israel’s air force or other military units fired at targets that were not terror targets.” ‘Where can we go now?’ Israel launched its campaign in retaliation for a rampage by Hamas, the group that rules Gaza, whose fighters killed 1,200 Israelis and seized 240 hostages in a cross-border raid on Oct. 7. Since then, Israeli forces have besieged the coastal strip and laid much of it to waste, with nearly 19,000 people confirmed dead according to Palestinian health officials and thousands more feared buried under the rubble. Nearly all of Gaza’s 2.3 million residents have been forced from their homes, many several times. Food and medical supplies are running out and international aid bodies say they fear mass death from hunger and disease. Despite Israel’s pledges to reduce harm to civilians, it has extended its ground campaign from the north to the south this month, leaving no part of the enclave unscathed. It says it is offering warnings where it can before striking an area. In the main southern city Khan Younis, where advancing Israeli forces reached the centre this week, a whole city block had been bombed overnight to dust. Though most people had fled after Israeli warnings, neighbours digging with a hand shovel believed four people were inside. One body had been recovered. “It is a total destruction. May God take revenge on them,” Nesmah al-Byouk, returning to the ruins of the home she had fled three days ago, told Reuters. “We came and saw everything destroyed, the house, the factory, our neighbours and house are all gone. Where we can we go to now?”
Journalists visiting Xinjiang say Uyghur Muslims enjoy freedom, prosperity ISLAMABAD
STAFF CORRESPONDENT
Journalists visiting Xinjiang Province of China say that the rumours of forced labour stand baseless, as the Uyghur Muslims are enjoying prosperity and ample provision of employment opportunities, professional training programs, abundant municipal facilities and mainstreaming. As a Pakistani journalist and President of Think Tank “Institute of International Relations and Media Research”, during a journalist’s visit to “Jiashi Drinking Water Safety Engineering Project”, it was noticed two important points, which allowed him to understand how the local Uyghur Muslims live and work in peace and contentment under the guidance of the local leadership. “Uyghur Muslims are among the main reasons for the socio-economic growth of the local Uyghur Muslims, who account for 98% of the total population of Kashgar, China’s Xinjiang Uyghur Autonomous Region,” he added. Jiashi County is a county under the jurisdiction of Kashgar City, Xinjiang Uygur Autonomous Region, northwest China. There was once a lack of drinking water here. Local residents are forced to drink
unsafe water that poses a health hazard. Eventually, with the financial support of the Chinese government, the safe drinking water project was established in 2019 and the drinking water problem was solved in 2020. Talking to “Jiashi Drinking Water Safety Engineering Project” Director Han Huskies, he noted that it is an important step toward raising living standards and helping people escape poverty. “After the drinking water safety project for urban and rural areas of Jiashi County was completed, all the drinking water pumped wells were made defunct, further saving the groundwater resources and protecting the ecology,” he added. He said that with the solution to the drinking water problem, Jiashi’s economy is booming, and the catering and tourism industries are changing with each passing day. Answering the question, he said local Uyghur Muslims are also beneficiary of employments in the project. Most workers and officials are Uyghur Muslims, he added. “Here comes also the role of China’ vocational education and training centers. Having trained there, Uyghur Muslims are becoming well-equipped with modern skills to fit for merits of jobs.”
“This is also the role of China’s vocational education and training centers. After receiving training there, Uyghur Muslims have been equipped with many modern skills to adapt to the workplace.” Another milestone achievement, which has proven to be a game-changer in the lives of local Uyghur Muslims, is the operation of the Jiashi County Yuejia Plum Industrial Park. Jiashi County Yuejia Plum Industrial Park is located in Yingbaili Township, 4.8 kilometers away from the county seat and 15 kilometers away from Kamai Expressway. It has convenient transportation and provides jobs for local Uyghur Muslims. Contrary to the venomous rumors in the West about Uyghur forced labor, as a Pakistani reporter, I witnessed and met Uyghur Muslims in the Jiashi County Yuejia Plum Industrial Park who have been working according to their own will and who believe in working conditions, wages and professional training It has completely changed their lives. In 2022, Gashi County cultivated plums (including apricots and plums) over a total area of 450,000 acres, with a fruiting area of 230,000 acres, making it the country’s largest production and mar-
keting base for plums. The Industrial Park represents a total investment of 380 million yuan and spans a total planning area of 364 acres, with a construction area of 100,000 square meters. It encompasses existing scientific and technological research and development areas, planting demonstration areas, cold chain warehousing and sorting areas, processing and production areas, and supporting services, among other functional areas. The aim is to establish a modern Plum Industrial Park integrating scientific research, teaching, training, processing, cold chain, warehousing, and logistics. Upon completion, the industrial park is expected to have the capacity to grade 100,000 tonnes of fresh fruits, store 23,500 tonnes of fresh fruits, and provide seasonal employment for more than 5,000 people. UYGUR MUSLIMS ENJOYING RELIGIOUS FREEDOM: Uygur Muslims are enjoying religious freedom. “I pray five times in Etigar Mosque, main mosque of Kashgar city, Xinjiang. Not only me, but all Uyghur Muslims pray freely here. I have never experienced any religious ban on Muslim faith or Muslim rights,” said Mr Mehmat, a local Uyghur.
Friday, 15 December, 2023 | ISLAMABAD
CORPORATE CORNER JLI stands as sole insurance company to bag Top 25 Companies Award by PSX
KARACHI: Mr. Farhan Faridi, Group Head, Retail Operations, Marketing and Administration at Jubilee Life Insurance (JLI) receives the Top 25 Companies Award by Pakistan Stock Exchange from Honorable Prime Minister of Pakistan Anwar-ul-Haq Kakar at a ceremony held at Mohatta Palace, Karachi. This is the fourth time that Jubilee Life has won the prestigious accolade in the last decade and it is the only insurance company in Pakistan to bag the award this year.The annual awards by PSX evaluate organizations on a qualitative as well as quantitative basis where financial performance, CSR initiatives, and reporting on SDGs are just some of the criteria for rigorous evaluation. Jubilee Life’s robust financial management as well as commitment beyond the numbers remain exceptional, a feat that was recognized by the leading regulatory authority for companies in Pakistan, the PSX. Jubilee Life remains devoted to serving its customers with dedication and achieving further laurels in times to come. PR
WaterAid Pakistan unveils country programme strategy 2023-2028
In a significant event held today in Islamabad, WaterAid Pakistan unveiled its visionary Country Programme Strategy for the period 2023–2028. This strategy aims to expedite Water, Sanitation, and Hygiene (WASH) progress in the country, with a strong emphasis on enhancing the resilience of water, sanitation, and hygiene services in the face of climate change. Furthermore, the strategy seeks to prioritize WASH integration within the health sector to significantly bolster public health outcomes. The launch brought together a diverse array of stakeholders, including representatives from academia, community-based organizations, media, and more. Other distinguished guests included Ms. Sitara Ayaz, Secretary-General of the International Parliamentarian Congress; Senator Seemee Azdi, Chairperson of the Climate Change Committee. PR
SHCC approves quality standards for Lab and Dental Services
KARACHI: The 62nd meeting of the Board of Commissioners (BoC) was convened by Dr. Khalid Shaikh, Chairman (BoC) of SHCC at Karachi. The meeting was attended by other members of the Board including Dr. Ghulam Rasool Shah, Dr. Abdul Ghafoor Shoro, Dr. Mirza Ali Azhar, Prof. Sameer Qureshi, Prof. Shoaib Gangat, and Dr. Ahson Qavi Siddiqi CEO, SHCC. Dr. Siddiqi presented the minimum service delivery standards for the laboratories and dental services for approval. The Board members reviewed the quality standards and approved sending these standards for the notification in the official gazette. Dr. Khalid Shaikh Chairman of the Board appreciated CEO and his technical team for achieving this milestone. Dr. Shaikh highlighted the critical importance of regulating dental and laboratory services to prevent the spread of communicable diseases, particularly Hepatitis B and Cand HIV-Aids, in Sindh. He urged the SHCC team to take immediate measures to ensure the quality of these services. CEO presented a draft Audited Statement of Accounts report of third-party auditors for the approval of the Board. Dr. GR Shah, convener of the Accounts and Finance Committee reviewed the report and proposed the Board for approval. PR
ABHI selected as one of Future 100 companies in UAE
KARACHI: ABHI, an embedded finance platform, providing innovative finance solutions to businesses and their employees, has been selected as one of the Future 100 companies in the UAE.Future100, an initiative by the Ministry of Economy and the Government Development and the Future Office aimed at spotlighting the top 100 startups contributing to the nation's readiness for the future and the competitiveness of the economic sector in the UAE.The Future 100 Awards ceremony, held on 8th December 2023, was graced by the presence of H.E Abdulla Bin Touq Al Marri, UAE Minister of Economy, and H.E Ohood bint Khalifa Al Roumi, Minister of State for Government Development & The Future.ABHI's Co-Founder and CEO, Omair Ansari, received the Future 100 award. Ansari expressed his gratitude on this momentous occasion: "We are incredibly honored to be selected as the Future 100 company in the UAE. This achievement underscores our commitment to promoting financial wellness in the region. It's vital to emphasize the vibrant potential and the incredibly supportive environment the UAE has provided us. We remain dedicated to financially empowering businesses and individuals." PR
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IMF CHIEF STRESSES REGULATORY MEASURES FOR MITIGATING CRYPTOCURRENCY RISKS NEWS
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INTENTION BEHIND REGULATIONS IS NOT TO STIFLE INNOVATION BUT TO PROVIDE GUIDANCE AND SPUR RESPONSIBLE INNOVATION, KRISTALINA GEORGIEVA CLARIFIES PROFIT
NEWS DESK
HE Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, emphasized the need for regulation and infrastructure to address the risks posed by cryptocurrencies, stating that unregulated adoption could undermine macro-financial stability. Speaking at a digital currencies conference in Seoul, Georgieva highlighted concerns regarding the potential impact of widespread cryptocurrency adoption on monetary policy, capital flow management, and fiscal sustainability. During the joint conference with the South Korean government and central bank, Georgieva outlined the IMF’s goal to establish rules that avoid crypto-re-
lated risks while leveraging some of the technology to create a more efficient, in-
teroperable, and accessible financial system. She clarified that the intention be-
Robust National Maritime sector provides foundation for sustainable economic future: Chief of Naval Staff LAHORE PR
“Considering the state of country’s economy it is imperative to realize Pakistan's maritime potential, since a robust national maritime sector can be a great enabler for transition to a sustainable economic future”, said Chief of the Naval Staff Admiral Naveed Ashraf addressing the closing ceremony of 6th Maritime Security Workshop at Pakistan Navy War College, Lahore.Maritime Security Workshop is Pakistan Navy’s annual event which aims to generate understanding on the dynamics of maritime security, creating awareness about blue economy and exploring untapped maritime
potential of Pakistan. The workshop participants included parliamentarians, policy makers, bureaucrats, academia, entrepreneurs as well as representatives from media.Speaking on the occasion, the Chief Guest emphasized Pakistan Navy’s commitments to raise awareness on issues of National Maritime significance and underscored PN
initiatives in generating informed debate on security issues, BlueEconomy, strategic developments in the Indian Ocean Region and intense geopolitical rivalry. He also apprised the audience that Pakistan Navy is divesting resources for the socio-economic uplift of the less privileged segments of society, especially along the coastal belt.
RIU hosts 3rd sustainable mountain sports tourism conference 2023
ISLAMABAD: Riphah International University, in collaboration with Alpine Club Pakistan, hosted the 3rd Sustainable Mountain Sports Tourism Conference 2023 with the theme "Revival of Mountain Glory." The three-day event aimed to promote sustainable tourism development and environmental conservation. The event commenced with an ECO hike on Margalla Hills in Islamabad, followed by a panel discussion chaired by Federal Minister Syed Jamal Shah. The closing ceremony, held at the President's House on December 13, involved briefing the president about the conference outcomes. During this ceremony, the Director Marketing at Riphah International University Mr. Muhammad Junaid Khan received the prestigious president award. Additionally, Riphah International University served as a co-sponsor for the ceremony. On this occasion, President Arif Alvi emphasized the importance of sustainable mountaineering and construction sites being situated away from nature hubs. PR
Ghee, cooking oil prices of well-known brands reduced at all utility stores: Spokesman
ISLAMABAD: The price of ghee of well-known brands has been reduced by 17 rupees per kg.While the prices of cooking oil have been reduced from Rs.37 per liter to Rs.48 per liter.Ghee will be available at Rs 482 per kg instead of Rs 499, while cooking oil will be available at Rs 470 to Rs 422 per liter and other branded cooking oil will be available at Rs 518 per liter instead of Rs 555.The new prices have been applied immediately.It should be noted that for the convenience of general consumers, Utility Stores Corporation is taking steps to reduce the prices of other items. PR
Federal Minister MoST visits NUST
ISLAMABAD: Federal Minister for Science & Technology, Dr Umar Saif, paid a visit to the National University of Sciences & Technology (NUST) on Thursday. Flanked by the senior management of the university, Rector NUST Engr Javed Mahmood Bukhari greeted the esteemed guest on his arrival. In a one-on-one meeting, the Rector apprised the minister of NUST’s national and global achievements, R&D initiatives and its efforts towards building the knowledge economy through a robust ecosystem based on research, innovation, entrepreneurship and commercialisation. The minister praised NUST’s fast-paced growth drawing upon quality higher education and cutting-edge research in a myriad of fields. Later, the minister visited the National Science & Technology Park (NSTP), the country’s first academia-driven S&T Park, and NUST School of Interdisciplinary Engineering & Sciences (SINES). While talking to media, the minister emphasised the need for the industry, universities and the defence sector to strengthen liaison and collectively contribute to the development of national economy. He maintained that the main purpose of his visit to the university. PR
Chairperson BISP, Dr Muhammad Amjad Saqib giving away certificate to a woman consumer who had applied for BISP Savings Scheme through BISP portal. PR
BISP launches ‘hybrid social protection scheme’
ISLAMABAD: The Government of Pakistan, with the technical support of global development partners, marked a significant milestone with the launch of the Hybrid Social Protection Scheme called ‘BISP Savings Scheme’ under the Benazir Income Support Programme. The event, held in Islamabad, witnessed the participation of distinguished representatives from the World Bank, Asian Development Bank, UNICEF, GIZ, German Corporation, and senior government officials.On this occasion, Chairperson BISP, Dr. Muhammad Amjad Saqib addressed the ceremony, officially introducing the BISP Savings Scheme. Dr. Amjad Saqib highlighted the program's primary objective, stating, "The BISP Savings Scheme aims to instill financial independence and a savings habit among consumers, fostering resilience during times of economic uncertainty." This initiative targets the informal sector, often referred to as the 'missing middle,' lacking access to social welfare schemes. Dr. Muhammad Amjad Saqib emphasized that families benefiting from BISP and individuals with a 40 PMT score would be eligible to participate in the scheme, catering to those traditionally underserved by social protection interventions.Dr. Amjad Saqib said that BISP Savings Scheme encourages financial inclusion, as subscribers will open and maintain savings accounts. PR
Finance professionals should take lead on public sector risk management in era of great challenges
LAHORE: Top risks facing public sector organisations are financial challenges and an inability to meet changing demands and expectations of the public for services. A global survey of finance professionals and others working in the public sector showed a key part of the global economy wrestling with significant risks, while not always having the tools to cope.The research, drawing on responses from those working in a range of roles across the public sector – finance, risk, audit and service delivery – found that, for their own organisations, they were worried about funding for public services and the ability to meet the evolving demands of delivering services, as well as finding the people with the right talent and skills.In ACCA’s survey the following five risks were highlighted as the most significant risks facing respondents’ organisations (percentage figures represent the proportion of respondents identifying the risk as one of their ‘top three’) . PR
hind regulations is not to stifle innovation but to provide guidance and spur responsible innovation. Georgieva emphasized the importance of participating in the development of digital money, stating that policymakers can either contribute to improving the process or risk being left out. She highlighted the “tremendous interest” in learning from each other, with a specific focus on understanding emerging markets, citing India’s digital public infrastructure as a noteworthy example. Additionally, Georgieva acknowledged the valuable experience of advanced economies in the history of money. The IMF chief’s remarks underscore the global recognition of the challenges and opportunities presented by the evolving landscape of cryptocurrencies and digital assets.
Lahore Entertainment City by Al-Jalil Developers: A Symphony of Luxury and Entertainment Unveiled
LAHORE: On a night that blended opulence, excitement and anticipation, Al-Jalil Developers proudly presented its latest masterpiece, Lahore Entertainment City (LEC). The evening, attended by luminaries including Mr Ch. Nasrullah Warraich, Chairman of Al-Jalil Group of Companies and Mr Shahid Hassan Warraich, CEO of Al-Jalil Group of Companies, was a celebration of innovation and progress in the realm of real estate. The focal point of the gala was the enlightening discourse by Mr Aslam Warraich, Commercial Director of Al Jalil Developers, who intricately detailed the myriad features that make Lahore Entertainment City a beacon of luxury and entertainment. Mr Fraz Hassan Warraich, Managing Director of Al Jalil Developers then took the stage to unveil Horizon 2024, offering a glimpse into the plans that promise to redefine the landscape of leisure and recreation. Dealers, integral partners in Al Jalil Developers' journey, shared their perspectives, contributing a diverse and enriching layer to the event. The unveiling of the Payment Plan for Lahore Entertainment City was a pivotal moment, laying out a transparent and accessible pathway for prospective investors. PR
LUMS Energy Institute launches report on energy efficient buildings
LAHORE: In a milestone event, the LUMS Energy Institute (LEI), a research and capacity building centre with a focus on Pakistan’s energy sector, has unveiled a report titled Sustainable Architecture: Advancing Energy Efficient Buildings. The report addresses the acute energy challenge and how adopting energy-efficient practices in residential construction can drastically reduce loads. While addressing policymakers, regulatory bodies, and key stakeholder, Dr. Fiaz Ahmad Chaudhry, Director, LUMS Energy Institute, said, “Pakistan's expenditure of nearly USD 100 billion on power plants, predominantly for summer cooling loads, is unsustainable. By adopting the energy-efficient practices we can reduce cooling loads by at least 50%, saving billions of dollars.”The seasonal variation in electricity usage, pronounced by cooling loads during hot summer months, necessitates an additional 18,000 MW of power plant capacity. This extra capacity, largely underutilized for the rest of the year, imposes a staggering cost of nearly $100 billion on the national economy. This operational inefficiency has led to capacity payment obligations surpassing PKR 2 trillion, a financial weight bearing down on a sector that contributes minimally to the country's GDP growth. PR
BoK announces partnership with ADB's Trade and Supply Chain Finance Program
KARACHI: Bank of Khyber (BoK) proudly announces its official affiliation as a "Partner Bank" with the Asian Development Bank's (ADB) Trade and Supply Chain Finance Program (TSCFP). This groundbreaking collaboration stands as a pivotal milestone, empowering BoK to enhance its global trade business prospects by capitalizing on its strong correspondent banking affiliations. This collaboration is proof of BoK’s commitment to advancing its global trade initiatives and solidifying its position as a key player in the international banking arena. PR
PAKISTAN REJECTS REPORTS, SPECULATIONS OF TALKS WITH TTP NEWS
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ISLAMABAD
STAFF REPORT
AKISTAN on Thursday categorically rejected reports and speculations of talks with Tehreek-e-Taliban Pakistan (TTP), with Foreign Office Spokesperson Mumtaz Zahra Baloch said “there is absolutely no dialogue taking place with TTP.” Responding to queries of media persons at her weekly briefing in Islamabad on Thursday, the FO said, “We have noted the statement of the interim Afghan government that it will investigate Tuesday’s terror attack that took place in Dera Ismail Khan.” She said Afghanistan should take strong action against perpetrators of this heinous attack and hand them over to Pakistan along with the TTP leadership in Afghanistan. The spokesperson urged the Afghan authorities to take concrete and verifiable steps to prevent the use of their soil by terror entities against Pakistan.
She said our law enforcement agencies have determined that the recent terror incidents in Pakistan have their links with individuals belonging to the TTP or its affiliates who have sanctuaries and hideouts inside Afghanistan. As regards the Indian Supreme
LHC halts deployment of bureaucrats as DROs, ROs in elections 2024 LAHORE
STAFF REPORT
The Lahore High Court (LHC) suspended the Election Commission of Pakistan’s (ECP) notification to appoint bureaucrats as district returning officers (DROs) and returning officers (ROs) for the general elections in Punjab. Single-judge LHC bench comprising Justice Ali Baqar Najafi announced the verdict on a petition filed by the PTI against the appointment of district returning officers (DROs) and returning officers (ROs) from the bureaucracy of Punjab for the upcoming elections. The LHC judge also issued notices to the parties – caretaker federal and Punjab governments and the Election Commission of Pakistan (ECP). In its fivepage order, the court noted that the poor people had spent billions of rupees for purpose conducting the elections and the every step should be taken for ensure free, fair and transparent polls. “If the major political parties did not accept the election results, the nation’s money would be wasted,” it added. It further pointed out that it was the ECP’s duty to conduct free and fair elections. It is pertinent to mention here that the Pakistan Tehreek-i-Insaf (PTI) had moved the Lahore High Court, challenging the appointment of bureaucrats by the caretaker provincial government in Punjab, to act as returning officers (ROs) for the upcoming general elections. The court 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. The provincial election commissioners will administer oath to the DROs, said sources, adding that DROs will administer oath to the ROs in the respective districts. It was learnt that deputy commissioners (DCs) of all districts were being appointed as the DROs and ADCs will be appointed as the ROs for the National Assembly (NA) seats.
IHC turns down Imran’s plea for immediate stay on cypher trial ISLAMABAD
STAFF REPORT
The Islamabad High Court (IHC) on Thursday rejecting the petition filed by former prime minister and ex-PTI chairman Imran Khan, seeking immediate halt to cypher case hearing and sought seeking reports from the respondents by Dec 20. The petitioner claimed that legal requirements for holding trial of the ex-PTI chairman in the case inside Adiala Jail had not been met. Justice Miangul Hasan Aurangzeb presided over the hearing, observing the court would review the plea once the parties had submitted their reports. Sikander Zulqarnain Saleem, the petitioner’s counsel, contended that the trial court judge did not have the notification for the jail trial being allowed when he fixed the date for the PTI leaders’ indictment. He said, “Our stance is that when there was no notification for a jail trial in front of the judge, how could he pass an order after conducting a hearing?” The court inquired whether the government’s notification for the jail trial was issued later, to which the lawyer replied that he was not aware of it. Saleem asserted that it was the government’s duty to determine the venue of the hearing and not the judge’s.
Court’s endorsement of India’s illegal and unilateral action of 2019, the spokesperson said the Indian Supreme Court has absolutely no jurisdiction over Jammu and Kashmir which is an internationally recognized disputed territory. The final disposition of Jammu and
Kashmir will be guided by the relevant UN Security Council resolutions and aspirations of the Kashmiri people. She said Pakistan will continue to extend political, moral and diplomatic to the Kashmiri brothers and sisters for the just and peaceful settlement of Jammu and Kashmir dispute. The spokesperson welcomed the resolution adopted by the UN General Assembly calling for an immediate humanitarian ceasefire in Gaza. She said this is a reflection of an international consensus and growing public anger at the ongoing Israeli atrocities that have claimed the lives more than eighteen thousand Palestinian people. It is critical the international community brings an end to Israel’s war crimes and crimes against humanity being perpetuated against the Palestinian people. The spokesperson also condemned increasing Israeli atrocities in the West Bank and attacks against Lebanon and Syria saying these are in breach of territorial sovereignty of these countries.
Court allows in-camera trial of Imran, Qureshi in cypher case ISLAMABAD
STAFF REPORT
The special court on Thursday accepted the Federal Investigation Agency’s plea seeking an in-camera trial of former prime minister Imran Khan and former foreign minister Shah Mahmood in the cypher case. As proceedings began on Thursday, the FIA prosecutor urged Special Court Judge Abual Hasnat Zulqarnain to allow the trial to be held in-camera, which he accepted, despite ruling last month that the proceedings would continue at the Adiala Jail but in an open court. The court said the next hearing would be heard in-camera and adjourned the hearing until Friday (tomorrow). It further ruled that family members of the suspects would be allowed to attend the hearing. The court began the cypher trial afresh at the Adiala district jail after indicting both the PTI leaders for a second time yesterday. The cypher case pertains to a diplomatic document that the FIA’s charge sheet alleges was never returned by Imran Khan when he was the chief executive of the country. The PTI has long held that the document contained a threat from the United States to oust Imran as prime minister. Imran and Qureshi were ini-
tially indicted in the case on Oct 23. Both had pleaded not guilty. The trial was being held at Adiala Jail and four witnesses had already recorded their statements when the Islamabad High Court (IHC) termed the government’s notification for a jail trial “erroneous” and scrapped the entire proceedings. As a result of the judgment, the special court started fresh proceedings. On Monday, the former premier had challenged the process of his indictment in the cipher case in the IHC, urging it to halt the proceedings till deciding on the petition. A day ago, the special court, established under the Official Secrets Act 1923, had indicted Imran and Qureshi for a second time. However, the ex-premier’s legal team disputed the impression, with Barrister Salman Safdar saying that the court did not indict the two PTI leaders as none of them had signed any document. But officials in the prosecution had told Dawn that since the judge had told the accused persons about the charges, the process of indictment had been completed. Separately, speaking to the media after the hearing yesterday, Imran’s sister Aleema Khan lamented she was “not seeing justice being served”. “We are followed when we go out of our homes. We are told we will be put in jail. [But] we are not
afraid,” she had said. Noting that her brother “could be sentenced to death in this case” as per the offence, Aleema claimed that US diplomat Donald Lu had sent the cipher to ex-army chief retired Gen Qamar Javed Bajwa. Speaking to the media after today’s hearing, Qureshi’s daughter Mehr Bano asserted that an open trial was the “requirement of justice”. The PTI vice-chairman’s counsel Barrister Taimur Malik told reporters that the charge sheet was “the same as the one the IHC dismissed”. Noting that “two important personalities” were in jail, the lawyer said the matter was now “ambiguous”. Malik said he still hoped for justice from the courts, adding that the lawyers could consider challenging the proceedings of framing the charge. Lawyer Umair Niazi quoted Imran as saying that the ongoing deportation drive of undocumented immigrants was a violation of human rights. Niazi further said that the former premier rejected PML-N supremo Nawaz Sharif’s statements on improving ties with neighbouring countries, including India, as “we cannot sacrifice Kashmir”. Prior to the hearing today, FIA Special Prosecutor Raja Rizwan Abbasi told reporters that the witnesses in the case will be produced before the court.
Nawaz Sharif urges public to support PML-N in Feb 8 polls LAHORE
STAFF REPORT
Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif expressed confidence that the people will back his party in the upcoming general elections after he secured major victories from courts. “I am hopeful that you [nation] will announce your judgments on February 8, [2024] and end the punishments meted out to you,” the former three-time prime minister said in a recorded message, aired on television channels Thursday. In an apparent reference to Pakistan Tehreek-eInsaf (PTI) founding chairman Imran Khan, former prime minister and Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif on Thursday questioned why Pakistan was punished by imposing [establishment’s] ladla (darling) on them after his removal from power in 2017. “Your enmity was with Nawaz Sharif and you had put him in jail but why did you punish the people? Why the lives of labourers and farmers were made miserable,” he asked during his ‘address to the nation’. The PML-N leader asserted that the cases against him were baseless, attributing his exoneration to divine intervention. The former prime minister stated that the recent court decisions in his favour exposed the falsehoods behind the cases. “Thanks to Allah, I have been vindicated. The court has acquitted me of all charges,” he
proclaimed. Sharif revealed that he was ousted from the prime minister’s office for not accepting salary from his son, adding that the National Accountability Bureau (NAB) was told to file three references against him. “I was called Sicilian mafia and Godfather. Today, all those involved in this evil play stand exposed,” he added. “Everyone questioned what my fault was. The prayers of the people have always boosted my morale. Testimonies are emerging in my favour from unexpected places where I never anticipated.” The former prime minister questioned why Pakistan, a nation he claimed had achieved freedom from IMF loans during his tenure, boasting a 6% growth rate, the eradication of load shedding, and a $50 billion investment through the CPEC project, now finds itself in a state of decline. The PML-N leader responded to critics accusing him of merely painting a rosy picture, asserting, “I substantiate it through Allah’s grace and benevolence. While circumstances may not always have been favourable, each time I concluded my term, the country was in an excellent state.” Nawaz said that he would truly be happy only when the miseries of the people end, when they are liberated from the shackles of inflation, when the youth find employment, and when the sick receive medicines. “You are the judge, and I hope you will deliver your verdict on February 8 and end your ordeals,” he concluded.
Friday, 15 December, 2023
PRAYER TIMINGS FAJR SUNRISE
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ECP rebuffs PTI’s election delay allegations, says geared up for polls 7:00
PROFIT
Per litre price of petrol is estimated to go down by Rs 13.10 and high-speed diesel (HSD) is expected to witness Rs 13.66/litre cut during the last fifteen days of the ongoing month of December 2023. According to sources, the prices of all petroleum products are estimated to witness massive decrease during the second half of the current month of December, 2023. They said petrol price is estimated to go down from Rs281.34/litre to Rs 268.24/litre after witnessing a cut of Rs 13.10/litre. Similarly,
the price of HSD/diesel is likely to decrease by Rs 13.66/litre from 289.71/litre to Rs 276.05/litre. Likewise, price of kerosene oil is expected to decrease by Rs 8.36/litre from Rs 201.16/litre to Rs 192.80/litre. Furthermore, price of light diesel oil (LDO) is likely to find a cut of Rs 10.23/litre from Rs 175.93/litre to Rs 165.70/litre. These oil prices are calculated based on current government taxes and without exchange adjustment, said sources. It is relevant to note that the government is charging petroleum levy (PL) of Rs 60/litre on petrol and diesel with effect from 1st December 2023 while it is receiving In-
6:45
ISLAMABAD
STAFF REPORT
The Election Commission of Pakistan (ECP) on Thursday responded to PTI Chairman Barrister Gohar Ali Khan’s allegation that Feb 8 elections could be delayed, branding his remarks a “failed attempt to mislead the people”. In a press conference held earlier in the day, Gohar had doubted that the general elections would be held on its currently scheduled date. He claimed the ECP had already moved the elections forward, questioning why it did not release the election schedule, which it was supposed to do today. The PTI chairman criticised the commission for not providing a level playing field to his party, and cited senior party leader Sher Afzal Marwat’s “abduction” today as the latest example of the ECP’s bias. “Free and fair elections will not be possible due to this entire process,” Barrister Gohar stated. “We have always had one stance, which is for the election commission to conduct fair and free elections.” He added that the appointment of civil servants as returning officers (ROs) and district returning officers (DROs) instead of judicial officers could never ensure fair and free elections. ECP Spokesperson Haroon Shinwari, in a statement, refuted Gohar’s allegations, reiterating that all the arrangements for holding the elections on February 8 were already in place. He said that the DROs and ROs had already been appointed and undergoing training in various parts of the country — which he said was necessary before the announcement of election schedule. The spokesperson further said that once the election schedule is announced, only then the nomination papers could be filed by the candidates and the ECP could perform its duties. He said that the election commission could not be “held responsible for the current situation in any way”.
ECP suspends training of polling staff after high court order ISLAMABAD
STAFF REPORT
The Election Commission of Pakistan (ECP) on Thursday has stopped the ongoing training of District Returning Officers (DROs) and Returning Officers (ROs) following an order issued by the Lahore High Court (LHC). This decision throws a wrench in preparations for the upcoming general elections, originally scheduled to be conducted with the assistance of the executive. The ECP’s move comes in response to a five-page written verdict issued by Justice Baqir Najafi on petitions filed by Pakistan Tehreek-e-Insaf (PTI) challenging the ECP’s earlier notification to involve the executive in the electoral process. In his judgment, Justice Najafi suspended the ECP notification and recommended the formation of a larger bench to hear the case comprehensively. He further directed the Chief Justice to consider the matter. The LHC order specifically mentions that the ECP’s notification regarding recruitment of bureaucracy for electoral duties is suspended. This effectively halts the training program for DROs and ROs, who play crucial roles in overseeing polling and vote counting at the district and constituency levels, respectively. The PTI had argued that the ECP’s decision to involve the executive in elections was unconstitutional and undermined the Commission’s independence. The party welcomed the LHC’s ruling, stating that it upholds the sanctity of the electoral process. The ECP, in its letter to provincial election commissioners, has directed them to immediately stop the ongoing training of DROs and ROs. This unexpected development raises concerns about the timeline for the upcoming elections, which were originally expected to be held soon. The Chief Justice is now expected to make a decision regarding the formation of a larger bench to hear the petitions challenging the ECP’s notification. The outcome of this legal battle will have a significant bearing on the fate of the upcoming general elections in Pakistan.
Shahnawaz Amir sentenced to death in Sarah Inam’s murder case ISLAMABAD
STAFF REPORT
An Islamabad trial court on Thursday sentenced Shahnawaz Amir to death for the murder of Sarah Inam and imposed a fine of Rs1 million on him, which would be paid to the bereaved family. The reserved verdict was announced by District and Sessions Judge Nasir Javed Rana, almost a year after the gruesome killing. The court acquitted Shahnawaz’s mother, Samina Shah, who was co-accused in the case. Sarah, a Canadian national, was murdered by Shahnawaz, her husband, the son of journalist Ayaz Amir, in Islamabad a year ago. She was reportedly killed just a day after she arrived in the country from Dubai where she had been working.
Petrol, diesel prices likely to go down by Rs13/litre for next fortnight AHMAD AHMADANI
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land Freight Equalization Margin (IFEM) of Rs 7.71/litre of petrol and Rs 0.60/litre on diesel. Similarly, the rate of Dealers’ Margin on petrol & diesel currently stands at Rs 8.65/litre. Likewise, the margin of Oil Marketing Companies is set at Rs 8.25/litre with effect from 1st December, 2023. On 1st December, the government maintained the price of petrol at Rs 281.34/litre while it reduced the price of HSD by Rs 7/litre and Kerosene oil price also witnessed decrease of Rs 3.82/litre. Moreover, the government approved Rs 4.52/litre cut in the price of LDO for the first half of December, 2023.
Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk