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Illegal foreigners UN CHIEF INVOKES RARE ARTICLE TO BRING UNSC’S seriously affecting ATTENTION TO ‘UNFOLDING GAZA CATASTROPHE’ Pakistan’s security, Friday, 8 December, 2023 I 23 Jamada Al-Awal, 1445
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GUTERRES SAYS UNSC’S CONTINUED INACTION, DETERIORATION OF SITUATION IN GAZA COMPELLED HIM TO INVOKE ARTICLE 99
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HAMAS BATTLES ISRAELI INVADING FORCES IN KHAN YUNIS CITY
Pakistan welcomes invocation of Article-99 of UN Charter on Gaza ISLAMABAD
STAFF REPORT
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GAZA AGENCIES
NITED Nations SecretaryGeneral António Guterres has invoked Article 99 of the UN Charter to bring to the attention of the Security Council the deteriorating conditions in the besieged Palestinian enclave of Gaza. In Article 99, the charter states, “the Secretary-General may bring to the attention of the Security Council any matter which in his opinion may threaten the maintenance of international peace and security”. Now Guterres will have the right to speak at the Security Council, without having to be invited to speak by a member state, as is usually the case. In a letter to the Security Council released a day earlier, Guterres said the UNSC’s continued lack of action and the sharp deterioration of the situation in Gaza had compelled him to invoke Arti-
cle 99 for the first time since he took on the top job at the UN in 2017. Guterres warned that public order in Gaza could soon break down amid the complete collapse of the humanitarian system and with no effective protection for civilians, “nowhere was safe in Gaza”. “The situation is fast deteriorating into a catastrophe with potentially irreversible implications for Palestinians as a whole and for peace and security in the region,” the letter stated. Israeli Foreign Minister Eli Cohen lashed out against Guterres, saying his tenure was “a danger to world peace” after he invoked a rare UN procedure over the Gaza war. “His request to activate Article 99 and the call for a ceasefire in Gaza constitutes support of the Hamas terrorist organization,” Cohen wrote on X. “We, too, want this war to end,” Israeli government spokesman Eylon Levy told reporters, “But it can only end in a
Imran strongly denounces Israeli war crime, genocide of Palestinians ISLAMABAD
STAFF REPORT
Founding and Chairman-for-life of Pakistan Tehreek-eInsaf (PTI), Imran Khan, has strongly condemned Israeli war crimes and ongoing genocide of innocent Palestinians in the besieged Gaza. He has also urged the United Nations and world powers to shun duplicity and double standards and take immediate measures for the safety and security of the victims of Israeli inhuman assault. Imran Khan, who has been unjustly imprisoned in Adiala Jail, in his message on Thursday, strongly denounced the massacre of helpless Palestinians and expressed great disappointment over the double standard being adopted by the UN and international community on the issue of genocide of the beleaguered Palestinians in Gaza. PTI founding chairman recalled that the people of the West taught lesson of human values and rights to the world but, unfortunately, they are seen blatantly violating all relevant international laws and values on the issue of Palestine. Imran Khan emphasized that Israel was brazenly carrying out genocide against the people of Palestine in front of the entire world. He went on to say that the oppressed Palestinians have been forced to live like hostages in an open prison for the last several decades. PTI founding chairman pointed out that the oppressed Palestinians were first deprived of their lands, then their houses were confiscated, which was followed by imprisonment and forced migration. He added that now they were being ruthlessly and brutally massacred in their own homeland. He stated that there was no example in the history of such injustice, as barbaric Israeli forces were hell-bent to erase the oppressed Palestinians from the face of the earth. Imran Khan called upon the world community, especially those in the Western countries, to shun double standards and take immediate and tangible measures to ensure respect for international law and values.
Pakistan welcomes the decision of United Nations Secretary General to invoke Article-99 of the UN Charter to bring attention of the UN Security Council towards the dire security situation and the humanitarian catastrophe in Gaza. Foreign Office Spokesperson Mumtaz Zahra Baloch at her weekly media briefing in Islamabad on Thursday said that this decision of the Secretary General demonstrates his conscionable assessment of the catastrophic situation in Gaza. She said Pakistan strongly and unequivocally condemns the continuous use of force by Israel and its indiscriminate acts on civilians, civilian facilities and infrastructure in a flagrant violation of international humanitarian law. Mumtaz Zahra Baloch said as the Secretary-General has underscored in
way that ensures that Hamas can never attack our people again.” HAMAS BATTLES INVADING ISRAELI FORCES: Hamas resistance fighters battled invading Israeli forces on Thursday in the heart of southern Gaza’s main city of Khan Yunis as Israel pressed on with its invasion across the besieged territory. Israeli troops, tanks, armoured personnel carriers and bulldozers continued to advance into Khan Yunis, forcing already displaced civilians to flee again,
his letter to the President of the UN Security Council that ‘civilians throughout Gaza face grave danger’ and ‘nowhere is safe in Gaza.’ There is a severe risk of collapse of the humanitarian lifeline essential for survival. She said the situation is fast deteriorating with potentially irreversible implications for Palestine and for peace and security in the region. Such an outcome must be avoided at all costs. The Spokesperson said we join the UN Secretary General in his call to the international community to end the ongoing situation and avert a humanitarian catastrophe. She said the UN Security Council must perform its primary responsibility under the UN Charter, impose an immediate and unconditional ceasefire and protect the people of Gaza from an impending genocide. Mumtaz Zahra Baloch said we call on Israel backers to urge Israel to end its barbaric attacks and inhuman siege against Gaza.
witnesses said. Hamas said late Wednesday on Telegram its fighters were engaged in fierce battles against Israeli troops “on all axes of the incursion into the Gaza Strip”, as it said they destroyed two dozen military vehicles in Khan Yunis and Beit Lahia in the north of the territory. Earlier, the Israeli army claimed it had pierced defensive lines and carried out “targeted raids in the heart of the city”, where they allegedly found and destroyed 30 tunnel shafts.
IHC seeks report from DG ISI, FIA, others BUSHRA BIBI-KHOSA AUDIO LEAK
ISLAMABAD
STAFF REPORT
The Islamabad High Court (IHC) on Wednesday sought a report from the DG Inter-Services Intelligence (ISI), the Federal Investigation Agency (FIA), and other authorities concerned on how an audio of an alleged conversation between Imran Khan’s wife and her lawyer Latif Khosa, was leaked online. A single member IHC bench comprising Justice Babar Sattar heard the petition filed by Imran’s spouse Bushra Bibi though senior lawyer Sardar latif Khosa, seeking action against those behind leaking the conversation. The judge also directed the FIA to carry out a forensic examination of the conversation, emphasizing the need for investigation into origin of the audio. He further stated a copy of the court order must also be sent to the ISI director general and added that the ISI DG must also submit a report as to who released the audio. The court issued notices to the FIA, Pemra, and the PTA, with the judge asking Pemra: “The Pemra must tell [us] as to how private conversations between people are being aired on TV channels.” The court also sought reports from the Pakistan Telecommunication Authority (PTA) and Na-
tional Database Registration Authority (Nadra) on the issue. The plea cited the principal secretary to the prime minister and secretaries of defence and interior as respondents. The petitioner stated the audio was broadcast on the media out of context, contending the PTA had stated before the court that recording of private conversation was prohibited. LEAKED CONVERSATION: In a clip surfaced on social media, a voice purported to be of Bushra Bibi tells her lawyer that Imran’s sisters were not happy with her for hiring him.As per the clip, Bibi told her sisters-in-law that she will hand all cases, which were being delayed, to Khosa. She also purportedly said that Imran’s sister had claimed that Khosa misbehaved with her. The voice suggested to belong to the former first lady also shared that Imran’s sisters were also not happy with her statement in which she expressed apprehension that the PTI chairman could be poisoned in jail. During the conversation, Khosa said he did not misbehave with the sisters and only told them that they should let him fight the case without interference. PLEA’S HEARING: As the hearing started, Justice Babar Sattar asked about objections to the petition, to which Latif Khosa re-
sponded: “An objection has been raised for the petitioner to file a separate petition.” He argued that a co-petition could also be filed to remove the objection. Subsequently, the judge removed the objections from the petition. The petitioner counsel went to emphasize the “privileged” nature of a conversation between a client and lawyer. In response, the judge quipped “you must know that the big boss is listening to everything”, eliciting laughter in the courtroom. Justice Sattar inquired about the recorder of conversations, to which Khosa replied: “Everyone knows who records conversations.” The judge responded: “We cannot proceed on hearsay.” Khosa said it was an issue for lawyers across the country, not just his. “How can the justice system function if a lawyer cannot speak to his client freely?” Khosa questioned. The judge inquired about the audio’s release on social media, and Bibi’s counsel responded, stating that the audio had been broadcast by nearly all TV channels. Justice Sattar further asked: “Did it initially surface on Twitter [now X] or somewhere else?” He mentioned that identifying the origin of the audio leak could assist in determining who recorded the conversation.
economy: COAS RAWALPINDI
STAFF REPORT
Chief of Army Staff (COAS) General Syed Asim Munir said on Thursday that the Pakistan Army will continue to undertake its selfless and sacred duty of safeguarding every inch of the motherland till the last drop of blood. According to a press release issued by the Inter-Services Public Relations (ISPR), the COAS passed these remarks during a visit to Peshawar. During the visit, the army chief was given a detailed briefing on overall security situation, ongoing counterterrorism operations, repatriation of Illegal foreigners and socio-economic developments in the Newly Merged Districts. While interacting with the officers and soldiers who have displayed gallantry actions during different counter terrorism operations, COAS Asim Munir lauded their heroic and exemplary feats saying: “Nation takes pride and acknowledges the accomplishments of its Armed Forces. Pakistan is destined to succeed and Pakistan Army will continue to undertake its selfless and sacred duty of safeguarding every inch of the motherland till last drop of blood, InshaAllah”. The COAS also had an interactive session with the participants of the First National Workshop Khyber Pakhtunkhwa (NWKP-1). While addressing the participants, Army Chief Asim Munir said: ‘’The resolute support of people of Khyber Pakhtunkhwa to Security Forces has resulted in stability in the province and materialization of progress on projects of socio-economic development’.’ Linking the prosperity of Pakistan with Khyber Pakhtunkhwa, the COAS emphasised that nefarious designs of the forces inimical to peace and stability of Pakistan are being foiled through a synergetic and comprehensive strategy, ISPR quoted COAS as saying. The army chief also highlighted the importance of economic growth and development in Newly Merged Districts. “Illegal foreigners were seriously affecting Pakistan’s security and economy.
Business community needs to avail SIFC opportunity: PM Kakar KARACHI
STAFF REPORT
Caretaker Prime Minister Anwaar-ul-Haq Kakar urging the local business community to avail the Special Investment Facilitation Council (SIFC) opportunity reiterated the commitment of government for providing conducive environment and streamlining regulations. Addressing the ceremony for distribution of Pakistan Stock Exchange (PSX) Awards to top 25 companies of the country for the year 2022, he said the caretaker government’s ultimate goal was to provide a blueprint for the next government. Premier Anwaar-ul-Haq said the government had sought help from the Pakistan Army to facilitate the business environment through the SIFC forum. He told the gathering that the measures taken by the government, including the crackdown on smuggling, illicit foreign currency trade and power theft, had yielded results, triggering market sentiments and propelling the Pakistan Stock Exchange by 33% in November to the historic 60,000-point mark, besides boosting investors’ confidence. Welcoming the private sector to invest and take advantage of the government’s measures, the prime minister called for building and rebranding Pakistan. Privatization process was underway that would also have positive impacts on the economy, he added. Speaking after distributing awards among the top 25 companies, PM Kakar said the PSX mirrored the vibrancy of the corporate sector and highlighted the symbiotic relations between the government’s policies and the prosperity of the businesses. He emphasized the inherent responsibility of Corporate Social Responsibility (CSR), urging businesses to adopt it as a moral obligation rather than mere rhetoric. He also urged business leaders to embrace digital evolution and collaborate with higher education institutions. Prime Minister Kakar urged the corporate sector to explore opportunities in regions like Economic Cooperation Organization (ECO), Caucasus, and the unexplored around 1.3 billion African population. He emphasized the need to prepare for $36 trillion trade activity expected to take place in China within 10-15 years. He encouraged soul-searching and improvement of approaches to envision Pakistan as the economic power of the region. The prime minister said Pakistan, a 240 million nation with immense natural resources like four seasons, mountains, and others as well as the youth bulge was destined to rise.
Govt mulls changes to debt management mechanism
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CABINET HAS APPROVED AGREEMENTS WITH CAPITAL MARKET INFRASTRUCTURE INSTITUTIONS TO CHANGE GOVERNMENT'S APPROACH TO DEBT MANAGEMENT EXPLAINER PROFIT AHMAD AHMADANI
The federal government is planning on fundamentally changing how it raises money. The caretaker cabinet has circulated a summary that has approved agreements that will allow the government to raise public debt with the assistance of what are known as Capital Market Infrastructure Institutions (CMIIs). So what does this mean exactly? Very simply put, the government is regularly in need of money. Every year the federal budget sets a target for how much the gov-
ernment needs to spend and how it can raise that money through taxation. But because Pakistan has a very poor tax collection system the government often needs to borrow this money to complete their spending. For this purpose the federal government borrows money. For example, one of the sources is that the government raises debt from the public through processes such as T-bill auctions. The government securities include Treasury Bills (T-bills) – Market T-bills (issued to commercial banks) and Market Related Tbills (government borrowing directly from SBP), Government of Pakistan Ijarah Sukuk and Pakistan Investment Bonds. Now many of these processes to raise debt happen through what are
known as Capital Market Infrastructure Institutions (CMMIs). These are entities that run and operate the country’s capital markets. For example, the Pakistan Stock Exchange is a CMMI where shares of publicly listed companies are traded. Similarly the Central Depository Company (CDC) serves as the sole securities depository in the country as far as the capital market is concerned. CDC handles the transactions like deposit of securities, transfer of securities, pledging of securities, pledge release, pledge call, withdrawal of securities and corporate actions. In the same way the National Clearing Company of Pakistan Limited (NCCPL) provides clearing and settlement services to the Pakistan Stock Exchange Limited
(PSX) through fully automated National Clearing and Settlement Services (NCSS). The current government’s idea is to sign agreements with these entities to boost the investors base and change the dynamics of debt management. The agreements include the Agency Agreement between the Government of Pakistan (GoP) and CMIIs, designating them as agents for providing support and ancillary services such as issuance, registration, settlement, and transfer of Government Debt Securities (GDS). Moreover, the issuance of an Issuer Agreement between GoP or Pakistan Domestic Sukuk Company Limited (PDSCL) and Central Depository Company (CDC) will render GDS eligible for the Central Deposi-
tory System of CDC for custody purposes. This strategic move follows the Ministry of Finance’s recent notification of the Rules for amending the Government of Pakistan Ijarah Rules, 2008, and Market Treasury Bills Rules, 1998. The amendments, dated November 17, 2023, empower the ministry to engage institutions beyond the State Bank of Pakistan (SBP) for raising domestic debt instruments. The engagement of CMIIs, including PSX, NCCPL, and CDC, aligns with the government’s vision to enhance efficiency and inclusivity in the financial market. These agreements, vetted by the Ministry of Law, mark a significant step toward national financial empowerment. The procurement of CMIIs’ services for this purpose falls within the framework of Rule 42(c) of the Public Procurement Regulatory Authority Rules, 2004, reflecting the unique and strategic nature of the services.
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800-POINT RALLY PUSHES PSX PAST 64,000 newS
Benchmark index is boost by economic revival initiatives, improved financial indicators, high investor confidence and expected inflows from IMF
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Friday, 8 December, 2023 | ISLAMABAD
PROFIT
News Desk
HE Pakistan Stock Exchange (PSX) witnessed a strong bullish trend on Thursday, as the benchmark KSE-100 Index broke the 64,000-mark barrier for the first time in its history. The index was backed by economic revival initiatives, improved financial indicators, high investor confidence, and expected inflows in the form of the second tranche of $700 million from the International Monetary Fund (IMF). According to the PSX website, the KSE-100 index closed at 64,718.07, gaining 800.35 points or 1.25% high as compared to the previous closing of 63,917.72. During the intraday trade, the benchmark index reached its highest level of 64,958.10 points. The market saw a strong demand for index-heavy sectors as investors were quite optimistic about the country’s economic
recovery. Cement, chemical, commercial banks, fertiliser, OMCs and power generation and distribution sectors were among the top performers, as they contributed to the historic rise of the benchmark index. According to the latest report by the Ministry of Finance, the PSX was experiencing a bullish wave due to a favourable IMF review and a consistent monetary policy stance. The report, titled “Monthly Economic Update and Outlook for November”, stated that “Pakistan’s economy is on a gradual but promising path to recovery.” The report also observed that the economic activity was increasing due to the pace of economic revival initiatives. The investor confidence was also boosted by the improvement in the country’s financial indicators, such as the extension of a $3 billion deposit by Saudi Arabia, the expected $2 billion inflow from the World Bank in FY24, the above-target tax collection by the Federal Board of
Revenue (FBR), and the relatively stable local currency. The market experts believed that the interest rates had peaked and were likely to decline from 2024, which would attract more flows to the equity market. They also expected the corporate earnings to improve in the coming quarters, reflecting the economic recovery. The PSX had seen a phenomenal rise of nearly 17% and the highest foreign investment in six years of $34.5 million in November 2023, indicating the strong confidence of investors in the country’s economic revival. This was the second-highest monthly return in percentage terms in over a decade, only behind Covid’s abnormal return in April 2020. The surge in Pakistan’s stock market rally had been a pivotal factor in the 50 percent increase in the benchmark index since late June, making it the world’s second-best performer during this period, following Argentina.
Plan to appoint army officers as PMU heads at Discos faces opposition g
Finance ministr y raises questions about additional cost, lack of experience, deviation from SIFC ’s decision PROFIT
moNitoRiNG Desk
The Ministry of Finance has opposed a proposal by the Ministry of Energy to appoint senior armed forces officers as heads of new Performance Management Units (PMUs) in the power distribution companies, saying it violates a previous decision of the Special Investment Facilitation Council (SIFC). The SIFC had approved giving the
army a role only in an anti-theft campaign, not in the management of the power sector, which is facing huge losses and inefficiencies. The energy ministry had sought the cabinet’s approval to set up new PMUs in all power distribution companies and a grade-20 officer of the armed forces would head these units. It also requested the Ministry of Defense to post one officer from sensitive agencies in each DISCO and a serving police officer for coordination with police authorities in the
Bilawal says he is the only politician whose ‘hands are clean’ SWAT
syeD shahbuDDiN
PPP Chairman Bilawal Bhutto Zardari said on Thursday that he was the only politician in the country whose “hands were clean”. “There is no politician in any other political party whose hands are clean. Their politics [revolve around] filling their pockets. I am the only politician who has been doing politics since the age of 19, since 2007 […] I was also the youngest foreign minister for 18 months,” Bilawal said while addressing a workers’ convention in Khyber Pakhtunkhwa’s Shangla. “My hands are clean, even my opponents cannot say [anything]. Keeping your hands clean in Pakistani politics is difficult. There is no stain of corruption on my hands nor the blood of the country,” he said as he raised both his hands in the air. “Instead of filling my own pockets, I want to fill your pockets, the pockets of the country’s labourers,” he said as he vowed to double the income of the common man in five years. During his address, Bilawal also said that older politicians — who he has criticised on several occasions in recent days — were still practicing politics of hatred and division and were not concerned about the issues plaguing the people. “We are the only party who will give you roti, kapra aur makaan (bread, clothes and shelter). We are the only party which says we do not have a political opponent […] our fight is with poverty, inflation and unemployment,” he said. “We do not know abusive politics, TikTok politics. And yes, we do not know the politics of Gate No 4 [of GHQ],” he said.
anti-theft campaign. Earlier, it was emerged at the end of the last month that the Power Division had prepared a plan to establish Performance Monitoring Units (PMUs) in every Disco that was facing high losses and low recovery. The PMUs will be headed by a serving brigadier and will have officials from the Federal Investigation Agency (FIA) and the Intelligence Bureau (IB) as part of their staff. However, the finance ministry has raised questions about the additional cost
of setting up these units, the lack of experience in managing the power sector, and the deviation from the SIFC decision. It is pertinent to mention that the power sector circular debt jumped from Rs2.310 trillion in June to Rs2.61 trillion in October –a net increase of Rs301 billion in just four months. Out of the Rs301 billion increase, an amount of Rs242 billion or 80% of the additionality, was on account of inefficiencies and less recovery of the bills by these power distribution companies.
First UDL Modaraba merges with and into UDL International Limited ISLAMABAD
Ghulam abbas
The Competition Commission of Pakistan (CCP) has granted approval for the merger of a listed company, M/s. First UDL Modaraba, with and into a related public unlisted company, M/s. UDL International Limited. The merger approval will lead to the listing of the previously unlisted UDL International’s unlisted company on the Pakistan Stock Exchange. On 17 October, 2022, a board meeting of First UDL Modarba decided to approve a detailed structure of conversion of First UDL Modaraba with and into UDL International Limited. The company subsequently got an approval from the SECP and other relevant authorities till it got the final nod from the CCP, on Thursday. In its notice to the Pakistan Stock Exchange, On December 5, First UDL Modaraba informed that the merger transaction was authorised by the CCP on the 1st of December. As per the CCP, the merger reflects the growing confidence of the corporate sector in the Pakistan Stock
Exchange. It also comes at a time when the KSE-100 index surpasses the 64,000-point mark. As per details shared by CCP, established under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, First UDL Modaraba has a registered office located in Karachi. UDL International Limited, also headquartered in Karachi, engages in diverse activities such as sale, purchase, import and export, general trading, and the supply of general orders and commodity products. It is a perpetual, multipurpose and multidimensional Modaraba engaged in providing finance under Murabaha and Musharakah arrangements, Ijarah, commodity trading, and trading in listed and noninterest bearing securities. After merging, UDLIL shall transfer the Musharakah portfolio of FUDLM, to its wholly owned subsidiary, M/s. UDL Financial Services Limited (“UDLFSL”). The phase 1 review of the merger application determined that the proposed transaction will not result in the dominance of UDL International Limited in the relevant market post-transaction. Therefore, the merger was officially authorised.
Asif Zardari delegates responsibilities to PPP leaders in Punjab LAHORE
staff RepoRt
As the general elections are just two months away, Pakistan Peoples Party (PPP) had decided to target special pockets in Punjab rather than focusing on all seats, i9t was learnt on Thursday. Sources said that in this connection former president Asif Ali
Zardari, who was currently staying in Lahore, had given assignments to the party leaders. They elaborated that the party would award tickets to only those candidates in Punjab whose chances of success were comparatively brighter. Furthermore, they disclosed, the PPP had also started reaching out to disgruntled party members in the
PFOFIT
News Desk
CCP approves merger, allowing UDL International Ltd’s listing on PSX g
Pakistan’s power sector circular debt rises to Rs2.6tr
province in order to woo them ahead of elections. Sources revealed that the party had already contacted political families in Muzzafargarh, Dera Ghazi Khan and Bahawalpur, and a committee had been formed on the instructions of Zardari for establishing contacts with other political parties and leading politicians.
Pakistan’s power sector is facing a severe financial crisis as the circular debt, the amount of money that the government owes to power producers and fuel suppliers, has reached Rs 2.6 trillion by the end of October 2023. This is a 13 percent increase from the previous fiscal year when the circular debt was Rs 2.3 trillion. The main reasons for the rise in circular debt are the slow release of subsidies, the delay in tariff adjustments, the high-interest charges, the non-payment by K-Electric, the poor performance of distribution companies, and the rupee depreciation. The government has failed to implement its anti-theft and recovery drive, which was supposed to reduce the losses and improve the efficiency of the power sector. The distribution companies have recorded Rs 77 billion in losses and Rs 165 billion in under-recoveries during the first four months of the current fiscal year. The government has also not paid the dues of the independent power producers (IPPs), which have reached Rs 1.75 trillion. The IPPs have charged Rs 45 billion in interest on delayed payments during the same period. The government has claimed that it will bring the circular debt to zero by the end of the current fiscal year, but experts are skeptical about this claim. They have urged the government to take urgent measures to reform the power sector and resolve the circular debt issue.
PTM’s Manzoor Pashteen handed over to police on seven-day physical remand ISLAMABAD
staff RepoRt
The anti-terrorism court (ATC) in Islamabad on Thursday handed over Pashtun Tahaffuz Movement (PTM) chief Manzoor Pashteen to Islamabad police on seven-day physical remand in a case registered in Tarnool police station. Islamabad Police produced Manzoor Pashteen before Anti-Terrorism Court Judge Abul Hasanat Muhammad Zulqarnain on Thursday morning and sought his physical remand. During the hearing, Manzoor Pashteen’s lawyer opposed the physical remand request. He said that Manzoor Pashteen was “abducted” from Balochistan and three days later he was produced in the court today. The lawyer told the court that Manzoor Pashteen’s car was also “fired” upon in Balochistan. After hearing the arguments, the court handed over Pashteen to the police on a seven-day physical remand and ordered police to produce him again on December 14. It is pertinent to mention here that Pashtun Tahaffuz Movement (PTM) chief Pashteen was arrested by the police in Chaman on Monday.
Govt to raise Rs90bn through first ever Ijara sukuk auction g
One-year auction of Shariah-compliant bonds will be held between December 2023 and Februar y 2024 PROFIT
News Desk
The Pakistan Stock Exchange (PSX) will conduct the first-ever auction of listed government sukuk bonds on December 8, 2023, according to a notice issued by the exchange on Tuesday. The auction is part of the government’s plan to raise Rs90 billion from the sale of one-year Islamic bonds between December 2023 and February 2024. The bonds are based on the Shariah-compliant principle of Ijarah, which involves the leasing of assets. The auction will be held through the
Capital Market Infrastructure Institutions (CMIIs), which include the PSX, the National Clearing and Settlement Company of Pakistan (NCCPL), and the Central Depository Company of Pakistan (CDC). The Ministry of Finance had recently approved some amendments to the rules governing the issuance, registration, trading, and transfer of government debt securities through the CMIIs, allowing the PSX to conduct the primary market issuance. The government sukuk bonds are expected to attract investors who are looking for Shariah-compliant
investment options and diversify the government’s sources of financing. The bonds will also help develop the Islamic capital market in Pakistan. The first auction of the government sukuk bonds will take place on December 8, with a target of Rs30 billion and settlement on December 11, 2023. The second auction will be held on January 23, with the same target of Rs30 billion, and settlement on January 24, 2023. The third and final auction will be held in February 2024, with a target of Rs30 billion and settlement on the same day as the auction date.
The auction dates and targets are subject to change depending on the market conditions and the government’s borrowing needs. The unique feature of the GDS auction at the PSX is its inclusivity, enabling ordinary individuals to directly invest in T-bills and PIBs with even small amounts of financing. This would allow them to later trade these securities. A significant increase in trading volumes at the stock exchange is anticipated, as both institutions and the general public express a strong interest in investing in sovereign debt securities. Approximately 200 stockbrokers and 30-40 banks are expected to actively participate in the sale and trade of these debt securities. High-net-worth investors also have the option to invest in these debt securities through specific banks.
Friday, 8 December, 2023 | ISLAMABAD
ADB APPROVES $659MN FOR PAKISTAN’S DEVELOPMENT PROJECTS
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PROFIT
NewS DeSk
HE Asian Development Bank (ADB) has announced three new projects worth $658.8 million in Pakistan, aiming to support the country’s inclusive and sustainable growth and development. The projects will improve tax collection and public spending, rebuild schools
damaged by the 2022 floods, and enhance agricultural productivity and food security. Improved Resource Mobilization and Utilization Reform Program: This $300 million policy-based loan will help the government implement reforms to policies, laws, and institutions that will improve domestic resource mobilization and utilization. The program will support the transformation of tax administration, public expenditure management, and
other institutional structures to increase non-debt resources such as private investment and savings. Sindh Secondary Education Improvement Project: This project will receive additional financing of $275 million as part of ADB’s $1.5 billion pledge of support for Pakistan’s recovery from the 2022 floods. The loan will help reconstruct up to 1,600 flood-damaged schools using disaster- and climate-resilient and gender-
responsive designs. The project will also provide a $800,000 technical assistance grant to help plan and monitor the reconstruction and introduce inclusive design features. KP Food Security Support Project: This $80 million concessional loan, also part of ADB’s $1.5 billion pledge, will help address climate vulnerabilities, enhance food security, and boost the livelihoods of rural farm households in the most flood-damaged
Monetised cost of free electricity units for Discos, Wapda employees frozen at current rate PROFIT
MoNitoRiNg DeSk
The federal government has decided to freeze the monetised cost of free electricity units for the senior employees of power companies and the Water and Power Development Authority (Wapda) at the existing level for the future, the Power Division announced on Tuesday. According to a notification, the cabinet had earlier approved the monetisation of free electricity units for the employees of Wapda, ex-Wapda companies, including distribution companies (Discos), generation companies (Gencos), National Transmission and Dispatch Company (NTDC) and Power Information Technology Company (PITC) on Oct 26. The notification said that any change in the rates of monetised units would require prior approval of the federal cabinet. Therefore, the rates notified below would stand frozen. The notification said that in the first phase, the electricity facility to in-service employees (BS-17 and above) of Wapda, Discos, Gencos, NTDC and PITC has been monetised after calculation of supply tariff issued on July 26, 2023, excluding taxes and duties. The in-service employees in grade-17 and above
Saad urges ECP to attend to concerns regarding constituencies LAHORE
Staff RepoRt
Khawaja Saad Rafiq, the prominent leader of the Muslim League-N, voiced his concerns over the apparent lack of a level playing field in the upcoming elections, asserting that their constituencies have been adversely affected. In a press statement on Thursday, he highlighted that the constituencies, including that of Shahbaz Sharif, have felt the impact of recent bans. He disclosed that despite raising the issue with the Election Commission regarding his constituency, his pleas went unanswered. He emphasized that while some votes remain unaccounted for, the election must proceed as scheduled on February 8, with no delays tolerated. “We are engaging with all parties contesting the election, actively seeking better candidates to secure victory,” stated Rafiq, underscoring the importance of fair representation in the democratic process. Addressing the broader political landscape, he stressed that the ongoing challenges facing Pakistan are only a temporary relief. He argued that economic recovery hinges on the formation of an elected government, asserting that international institutions take such a government more seriously. Commenting on the political journey of Imran Khan and the PTI, Rafiq remarked, “PTI spent 15 years on social media without building meaningful connections with the political community. Imran Khan failed to establish alliances with political parties and households sympathetic to his cause.” He criticized the recent delimitation of constituencies, particularly in his area, stating that the Election Commission wrongly rejected their objections. He vowed to challenge the decision in the High Court, citing the division of the Walton Kent Board into four National Assembly constituencies as an unjust move. As the political atmosphere intensifies with upcoming elections and Senate polls in March, He concluded, “Local bodies should be protected within the constitutional framework, and the importance of an elected government cannot be overstated for the nation’s progress.”
Senators’ delegation visits Iraq to strengthen bilateral ties BAGHDAD
Staff RepoRt
Headed by Chairman Senate Muhammad Sadiq Sanjrani, a high-profile delegation of Senators arrived in Baghdad, Iraq on Wednesday with an aim to enhance bilateral relations between the two countries. Undersecretary of the Iraqi Ministry of Foreign Affairs Mohammed Hussein Mohammed Bahr-aluloom along with senior officials of the Iraqi Parliament warmly received the distinguished delegation. During his stay in Iraq, Chairman Senate Muhammad Sadiq Sanjrani was scheduled to engage in meetings with senior Iraqi leadership and parliamentary heads including acting Speaker of the Iraqi Parliament. These discussions were expected to focus on strengthening diplomatic ties, fostering collaboration on key regional issues, and exploring avenues for mutual cooperation. In addition to diplomatic engagements, Chairman Senate Sanjrani will pay visits to Holy shrines situated in different parts of Iraq, underscoring the cultural and spiritual connections between the two nations. This multifaceted visit underscores Pakistan’s commitment to promoting peace, stability, and understanding in the region.
would have to pay the electricity bills issued by respective Discos against the reference numbers already available with Discos. How much will the senior employees of Discos and Wapda get paid? The notification also provided the details of the revised compensation for different grades of employees in Wapda, Discos, NTDC, and PITC. The revised compensation is based on the monetised cost of free electricity units that the employees were previously entitled to. For example, the grade-17 employee of Discos and Wapda, who were allowed 450 free units per month, would now receive Rs15,858 per month. The grade-18 employee of Discos and Wapda, who were entitled to 600 free units per month, would now receive Rs21,996 per month. The grade-19 employee of Discos and Wapda, who were entitled to 880 free units per month, would now receive Rs37,594 per month. The grade-20 employee of Discos, Wapda and Gencos, who were entitled to 1,100 free units per month, would now receive Rs46,992 per month. The grade-21 employee of Discos and Gencos, who were entitled to 1,300 free units per month, would now receive Rs55,536 per month. For the employees attached to generation
companies (Gencos) and power generation stations, the revised compensation is as follows: The grade-17 employee of Gencos, who were allowed 650 free units per month, would now receive Rs24,570 per month. The grade-18 employee of Gencos, who were entitled to 700 free units per month, would now receive Rs26,460 per month. The grade-19 employee of Gencos, who were entitled to 1,000 free units per month, would now receive Rs42,720 per month. The grade-20 employee of Gencos, who were entitled to 1,100 free units per month, would now receive Rs46,992 per month. The grade-21 employee of Gencos, who were entitled to 1,300 free units per month, would now receive Rs55,536 per month. The notification said that the monetisation of free electricity units was aimed at rationalising the electricity consumption and reducing the burden on the national exchequer. The notification also revealed that the initial proposal did not include Wapda employees, but they have now been incorporated into the revised arrangement after discussions held at a meeting in the Prime Minister’s Office on August 27, 2023, which was attended by the chairman of Wapda.
Two Balochistan electables to join PPP QUETTA
Staff RepoRt
In a significant move ahead of the February 8 general elections, top politicians from Balochistan are all set to join Pakistan Peoples Party (PPP) ranks. The senior politicians belonging to the Balochistan Awami Party (BAP) and Pakistan Tehreek-e-Insaf (PTI) have decided to join PPP after former chief minister Nawab Sanaullah Zehri had extended an invitation to Balochistan political leaders on behalf of PPP leadership. The former lawmakers who are set to join the PPP include former CM Abdul Quddus Bizenjo, Umar Khan Jamali and Ziaullah Langu. Langu had served as home minister in Jam Kamal’s cabinet while Mir Umar Jamali, who was elected as MPA on a ticket of PTI, is a son of former Pakistan PM
late Mir Zafarullah Khan. Earlier, PPP leader Asif Ali Zardari had formed different committees to reach out to ‘electables’ and other political players to formidably place the party in the 2024 elections. “President PPPP @AAliZardari has formed a committee for dialogues with other political personalities with immediate effect,” party’s information secretary Faisal Karim Kundi had said on X (formerly Twitter). Nayyer Hussain Bukhari, Qamar Zaman Kaira, Faisal Karim Kundi, Muhammad Ali Shah Bacha, and Sajid Toori will be the members of a committee in Punjab and Khyber Pakhtunkhwa. For Sindh, Saeed Ghani and Nasir Hussain Shah and for Balochistan Chengez Khan Jamali, Rozi Khan Kakar and Sabir Ali Baloch are the members of the committees.
Junaid Jamshed remembered on seventh death anniversary ISLAMABAD
Staff RepoRt
The seventh death anniversary of preacher turned Pakistani pop star, Junaid Jamshed was observed by his fans on Thursday. The fans paid rich tributes to the departed soul through media platforms and recalled his favorite memories in their own way. Born in Karachi on Sept 3, 1964, Junaid Jamshed briefly worked as a civilian contractor and engineer for Pakistan Air Force before turning into a singer. He formed a pop music band Vital Signs and also led the band as a singer. The band gained immense worldwide popularity during the 90s, with their songs like “Aitebaar”, “Goray Rang ka Zamana”, “Dil Ki Baat”, “Dil Dil Pakistan” and “Sanwali Saloni”, electronic media channels reported. Junaid’s singing career was booming and he toured the whole world to show his talent in live concerts, but after entertaining the pop music lovers for 15 years, in 2004 Junaid officially left the music industry at the peak of his career and reconnected to his Islamic faith. As early as 1999, media had been speculating about
Junaid’s drift from music soon after the Vital Signs faded away. The speculations soon died after Junaid released his single albums in merely two years and continued world tours. After 2001, Jamshed disappeared from the public eye and avoided media attention. Over the years, Junaid stays distant from Hyatt who continued to work on producing music. In 2003, BBC World Service conducted an unscientific poll to choose ten most famous songs of all time. Around 7,000 songs were selected from all over the world. According to BBC, people from 155 countries/territories voted in the poll. “Dil Dil Pakistan” was ranked third among the top 10 songs. In 2004, Jamshed officially renounced music and engineering after announcing that he would devote his life to Islam. In 2007, the government of Pakistan awarded him Tamgha-e-Imtiaz. He went on a mission of preaching the religion to the residents of Chitral where he died in a horrible crash when PIA flight PK661 of aircraft ATR-42 turboprop plane crashed near Havelian with 47 passengers and crew members on board along with Junaid Jamshed and his wife.
PEF celebrates academic, co-curricular excellence at provincial event
LAHORE
Staff RepoRt
The Punjab Education Foundation (PEF) organized a provincial-level event that showcased the talents and achievements of students from primary, middle, and secondary levels across 124 PEF partner institutions. The event, held at the Gymnasium Sports Board, featured a diverse array of activities including recitations, naat sessions, speeches, sack races, long
NEWS
jumps, and 100m races. A total of 135 students participated in these competitions, demonstrating their prowess in both academics and co-curricular activities. A prestigious ceremony was organized to honor the first, second, and third position students, where they were awarded with cash prizes, trophies, and honor shields. The first position students received cash prizes of Rs15,000, second position students received Rs10,000, and third position students received Rs5,000. Shahid Farid, Managing Director Punjab Education Foundation, extended his heartfelt congratulations to the outstanding students who secured top positions. The event was graced by Shahid Zaman Khan, Secretary Sports Board Punjab, with his presence as a special guest. Distinguished personalities such as Dr Saeed Shafqat, Chairperson Board of Directors PEF, Dr Asif Tufail, Director General Sports Board Punjab, and Qurat-ul-Ain Memon, Chief Operating Officer TEVTA, along with senior officers of PEF, partners, and teachers, also actively participated in the event, adding to its grandeur.
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districts in the province. The project will provide essential agriculture inputs and training to smallholder farmers, including women, and improve household nutrition and women’s empowerment. It will also enhance digital access and availability, especially with regard to market opportunities and climate information. ADB will also administer a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific that will finance activities for women farmers related to seed cleaning and the safer handling of agrochemicals. The ADB said that these projects are part of its strategic engagement in Pakistan and cohesively deploy its program lending and project investments to enhance support for Pakistan’s efforts to improve its economic situation and enhance the quality of life for its people.
KSE-100 index briefly hits 64,000 mark PFOFIT
NewS DeSk
Bulls run continued at the Pakistan Stock Exchange (PSX) on Wednesday, as the benchmark KSE-100 Index briefly soared past the psychological barrier of the 64,000 mark. The upward trajectory was backed by economic revival initiatives, improved indicators, high investor confidence, and expected inflows in the form of a second tranche from the International Monetary Fund (IMF). The PSX website reported that the KSE-100 index closed at 63,917.72 points, an increase of 961.70 points from the previous closing of 62,956.02. At 3:15 pm, the benchmark index touched the 64,038.83 level before falling back. The recent market sentiment is boosted by a recent staff-level agreement between Pakistan and the IMF on the first review under the $3 billion Stand-By Arrangement (SBA). The agreement paved the way for releasing the second tranche of $700 million to Pakistan in mid-December. According to the latest report by the Ministry of Finance, the PSX is experiencing a bullish wave due to a favourable IMF review and a consistent monetary policy stance. The report, titled “Monthly Economic Update and Outlook for November” stated that “Pakistan’s economy is on a gradual but promising path to recovery.” The report also observed that the economic activity is increasing due to the pace of economic revival initiatives. The investors were also encouraged by the improvement in the country’s financial indicators, such as the extension of $3 billion deposit by Saudi Arabia, the expected $2 billion inflow from the World Bank in FY24, the above-target tax collection by the Federal Board of Revenue (FBR), and the relatively stable rupee. The market experts believe that the interest rates have peaked and are likely to decline from 2024, which would attract more flows to the equity market.
Govt eager to boost Pak-Azerbaijan defence ties: Anwar Ali RAWALPINDI
Staff RepoRt
Caretaker Defence Minister, Lieutenant General (R) Anwar Ali Hyder has said that the government is desirous to boost defence relations with Azerbaijan. He stated this while talking to Ambassador of the Republic of Azerbaijan, Khazar Farhadov who called on him here on Thursday. Lieutenant General (R) Anwar Ali Hyder welcomed the dignitary and highlighted the importance of bilateral brotherly relations between the two countries which are based on historical, cultural and religious commonalities, a news release said. He stated that Pakistan views Azerbaijan as an important country due to its strategic location, immense resources, progressive outlook and fast growing economy. He appreciated continued interaction between higher military and defence leadership of the two countries. The Defence Minister expressed the desire for enhanced cooperation in the field of Defence Production by exploring potential joint venture areas in the Defence industry.
04 COMMENT
New man in
Nawaz-Shujat meeting
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Meeting may have major impact on Central Punjab
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Friday, 8 December, 2023
Placeholders have patchy history
HE meeting between PML(N) Quaid Mian Nawaz Sharif and PML(Q) President Ch Shujat Hussain could have been predicted from the time PML(N) President Mian Shehbaz Sharif, then Prime Minister, called on Ch Shujat. There was a clear division between Ch Shujat and his cousin Ch Pervez Elahi, who split with Shujat over the CM election which saw Ch Pervaiz replace Hamza Shehbaz as Punjab CM, and went into the PTI. Ch Shujat had kept on the right side of the establishment, and the split of the PML(Q) gave the Shehbaz coalition three more seats, for which the PML(Q) got two seats in the Cabinet. Ch Shujat and Mian Nawaz had old relations, Shujat having been the Interior Minister in his first three Cabinets. Their split started with the Musharraf Martial Law, during which Ch Shujat had headed the PML(Q), which attracted PML(N) and some PPP deserters, who gave Musharraf the party he had sought. The meeting placed the politics of the new Gujrat Division in some turmoil, as the prospect of a three-way race between the PML(N), the PML(Q) and the PTI receded. It was also interesting that the PML(Q)’s separate existence was not debated, and the formula seemed to be adopted of ‘seat adjustments’. This contrasts with the way Ch Pervaiz’s faction was made to merge with the PTI. Again, it seems of a piece with the formula that Mian Nawaz followed with the MQM, as well as in Balochistan. He seems to be conciliatory to the point where he can, apparently envisaging forming a coalition to become PM rather than form a one-party government. The problem that Ch Parvez and his son Moonis already faced has become more complicated. The PTI’s backing always meant that their main opponent would be the PML(N) candidate, but now there will not be a PML(Q) candidate to draw off votes. The PML(N) candidate will also expat the support of Ch Shujat. How exactly Ch Pervez expect to contest the election, what with he being in jail and his son abroad, is not clear. However, the PML(N) is likely to do its best to ensure that neither father or son make it to the Punjab Assembly, and for that the alliance with the PML(Q) was essential. Whether this change will change Ch Pervaiz’s mind for him about his loyalty with the PTI, to which he is sticking so far, is yet to be seen, but it will certainly force him and his son to engage is a serious rethink.
at Penpoint m a NIaZI
NE phase of the ‘minus-one’ formula seems to have been implemented, with Imran Khan, for the first time since the founding of his party way back in 1996, no longer its chairman. However, it has not been handed over to someone who would implement the rest of the formula, and ensure that the party remained in hands which could be depended upon to remain on the same page. However, the elections saw the re-election of Omar Ayub Khan as Secretary General, but there was no mention of Vice-Chairman Shah Mahmood Queshi or President Pervez Elahi, who had both long been supposed to be ready to replace Khan as more cooperative heads of the PTI. That would have been the second phase: the PTI going into the hands of someone more likely to cooperate. However, the new Chairman, Gohar Ali Khan, is a loyalist. He is apparently not wanted in any of the April 9 cases, which gives him a major advantage in today’s PTI: freedom. It means that he will be able to issue tickets to candidates once they are decided. The Chairman or president and secretary general of all parties are duly authorized to issue tickets. If Imran had remained Chairman, he would probably not have been able to issue tickets as he is in jail, and could be assumed to be when the last date of issuing tickets, sometime in January, rolled around. There was also the risk of his being disqualified upon conviction as chairman, leaving the Secretary general to do the honours. There is a problem there, as the Secretary General too has got legal difficulties because of the June 9 incidents. He is underground, his only recent public appearance being at the funeral of his father, Gohar Ayub, the former National Assembly Speaker and Foreign Minister, who passed away recently. By the time tissues would be issued, he would either still be on the run, or have been arrested, and thus behind bars. In either case, he would be useless for candidates seeking to be allocated the PTI’s symbol. Therefore, Imran’s utility to his party was not limited to his campaigning abilities, but also to his issuing tickets. Having a Chairman who can issue tickets is no mean thing. However, the implications of having even senior officebearers underground, on trial, or generally in trouble withe law, are serious. They and the other natural ticket-holders of the party may not be able to file their nomination papers, let alone collect their party tickets. Even if they get past these stages by proxy (none involve a personal appearance, whatever the traditions are), their legal problems would prevent them campaigning properly. While the PTI depends heavily on Imran for its electoral appeal, its candidates in 2018 did not attempt to follow the sit-at-home strategy that it seems ready to rely on. It is banking on its having been forgiven all its past sins and shortcomings in office, the allegations of corruption which have emerged, and
Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Yousaf Nizami
the incidents of May 9. It is betting that it can turn Imran’s imprisonment, and the legal troubles faced by party stalwarts, into an anti-establishment narrative that will allow it to sweep to power. Lawyers seem ready to provide the personnel needed. Lawyers have always been over-represented in politics worldwide. One reason is that politics is about legislating. Who else but lawyers have the interest and even understanding? However, apart from the natural interest of lawyers in what constitutes the law, and their interest in shaping it as legislators, there is another inherent advantage they have. That is relatively easy access to an accused, even more than family. While family visits may be limited, lawyers have virtually unlimited access, especially of an under-trial prisoner. In the case of a political leader, this means almost unrestricted facetime, which would otherwise not be available even to senior leadership figures. That does mean that Imran will be under the influence of members of his party who do not have any sort of mandate from the rest of the party. This is the same as other parties, it could be said, where the last person to talk to the leader determines the party’s agenda, but the PTI has claimed as one of its selling points, that it was a different sort of party. One of the problems that Gohar will face is that of miscommunication. He will find that those who somehow do not like his appointment, like fellow lawyers or members of Imran’s family, will suddenly find him worthy of discussion. It depends on how much power he has. He is likely to have more power than less, or at least that is what he should have. There are actually three precedents, two with the PML(N) and one for the PPP. To avoid disqualification for the 2008 election, the PML(N) made Makhdoom Javed Hashmi its President, and the PPP made Makhdum Amin Fahim its Chairman.
The PTI has only now come to the scene, and has to deal with what in what in a very different context is called a decapitation strike, one which removes the head oa party.
Security threats ahead of Pakistan’s general election Editor Umar Aziz M. A. Niazi Joint Editor
A
Executive Editor
Indian interference must be guarded against Nadeem IsmaIl
FTER an unusually prolonged period of political turmoil, the general election date has finally been set by the Election Commission of Pakistan. February 8 will decide which political party is going to rule 220 million people of Pakistan. It is not unexpected that there is still some skepticism about the elections really taking place, but the activity and involvement of the concerned people suggests elections are most likely on the set date. After years of political destabilization, the country is finally moving forward. The downside to this political development, however, is the threat of terrorism. According to the data released by the Pakistan Institute of Conflict and Security Studies (PICSS), the acts of terrorism in Pakistan increased by 80 per cent in 2023 as compared to last year. So far, more than 800 people have been victims of the increased terrorism. A majority of these terrorist acts were perpetrated by the banned militant outfits, such as the Balochistan Liberation Army (BLA) and Tehrik Taliban Pakistan (TTP). According to the Pakistani intelligence agencies, these anti-state militant outfits are supported by India for destabilizing Pakistan. Both share an anti-Pakistan agenda. India’s involvement in supporting transnational terrorism is now being gradually unveiled. The biggest exposition of this came when Canada’s Prime Minister Justin Trudeau directly accused India of being involved in the killing of a Canadian Sikh citizen Hardeep Singh Nijjar. Because of his pro-Khalistan activism, India designated him a terrorist a year before his assassination. Apart from this incident, adequate analysis has been made on RAW’s involvement in many violent incidents inside Pakistan as well. In this year alone, two such incidents have been recorded where members of Sikh community were killed in broad daylight by “unknown” assassins. The current threat to Pakistan, especially during the electoral process, stems from the fact that India continues to sponsor the BLA and TTP, and its opposition to the Khalistan movement. In an intelligence report, it was revealed that India provided the TTP commanders with weapons that also included the deadly IEDs. The report also disseminated multiple transactions made from India to finance terrorism in Pakistan. And now Canada’s accusation based on the Five Eyes’ intelligence proves New Delhi’s involvement in state-sponsored terrorism. In April of this year, the Ministry of Defence reported to the Supreme Court of Pakistan that India may exploit the fault lines
to hurt the federation if elections in Punjab were to be held earlier. The intel, combined with the killing of Nijjar, cements the possibility of India’s use of violence against Pakistan in the coming general election. During the election campaigns, a lot of mass assemblies will be observed. Social and political gatherings throughout the country will be a norm for several months. Such rallies are prone to vulnerability. Therefore, there is a tangible threat in Pakistan coming from its immediate neighbor. Not just of terrorism, the threat can also be of a different nature. In 2020, the Canadian Broadcasting Corporation reported that the country’s security agencies were monitoring India’s deliberate influence in the federal election through its diaspora. In 2021, the European Union DisinfoLab exposed how the Indian media was involved in propagating false news against Pakistan. Considering India’s past actions, the threat can be of any nature. Despite its audacity to openly destabilize Pakistan, India conveniently plays the victim on international forums. New Delhi accuses Pakistan of providing safe haven to the Sikh separatists belonging to the Khalistan movement. But it overlooks its proven involvement in countless terrorist activities on Pakistani soil. In 2016, Pakistani security agency captured an Indian spy from its Research and Analysis Wing
Makhdum Amin Fahim was even forgiven the massive ‘Patriot’ desertion, which allowed the PML(Q) to form the government, and even held the post of Deputy PM in the Yousaf Reza Gilani (a post which Ch Pervez also held when the PML(Q) joined the coalition), He is now deceased, but remained in the PPP until the last. Makhdum Javed Hashmi had a less straight path. While he held the Presidentship of the PML(N) from 2002 to 2005, he moved to the PTI in 2012, where he became its President, but left in 2014, during the famous dharna. He has now returned to the PML(N). The other PML(N) precedent is ongoing, that of Mian Shehbaz Sharif, who has been PML(N) President since 2018, when he assumed office in time for the elections. Here Mian Nawaz chose a relative, just as in the Musharraf era Begum Kulsoom Nawaz headed the party too, thus showing a switch from family member to non-family member, and back to family member. Imran has jumped the initial reliance on family, though that may have been because whether he chose his wife or one of his sisters, the other would have found the choice unacceptable. He may also have taken a lesson from the Sharifs, where though Shehbaz has been President for some time, daughter Maryam has been made Senior Vice-President and Chief Organizer. Would Imran have had to balance a sister as Chairman with the wife as President or ViceChairman? The best solution, of leaving well alone, was what he chose. Parties turn to someone other than their founder at a time of crisis. Perhaps only Nawab Saleemullah Khan of Dacca, who passed in 1915 after he was the first President of the All- india Muslim League in 1906, did not cause a crisis by dying. As the oldest party, the Muslim League has the longest history of transitions. From the Council-Convention split over Yub Khan, to Mumtaz Daulatana ringing down the curtain on the Council by accepting the London Embassy from the PPP government, to the grand unification under the previous Pir Pagaro, it has been a history of convulsions. The PTI has only now come to the scene, and has to deal with what in what in a very different context is called a decapitation strike, one which removes the head of party. Of course, legalists would argue that a more apt metaphor would be shooting oneself in the foot, as it did on June 9. Whatever the case, the PTI is scrambling to survive. That Imran seems to have done, for even though someone else is had of the PTI, he remains in control. The writer is a member of staff
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(RAW) named Kulbhushan Jadhav. He admitted to have carried out terrorist activities in Balochistan which were intended to destabilize the Pakistani federation. In 2019, another of India’s soldiers, Wing Commander Abhinandan, was captured in Pakistan when his plane was shot down by Pakistan Air Force. As a symbol of peace and humanity, Pakistan soon released him. But India’s double standards remain in place as it still continues to support anti-Pakistan militant groups. Pakistan and India have engaged in military standoffs since their inception. If they continue to engage in these conflicts, their fate would be much like the present Israel-Palestine conflict. Palestine, being the weak party, stands at a continuous disadvantage, with gradually losing its territory, identity and sovereignty. All international mediation attempts have failed to bring peace in the region. Regardless of which party is weaker, the certain thing is that both parties are at a loss. War is not a solution to settle a dispute. And there is no solid example in which international mediation has brought two conflicting parties at peace. This is a lesson that India and Pakistan can learn from the Israel-Palestine conflict. To resolve their disputes through bilateral dialogue is the only way forward. Unless the practice of populist politics thrives in India, the chances of such a diplomatic effort will remain nil.
The writer can be at nadeemismail2000@gmail.com
reached
Bridging investment gaps
FOREIGN investment plays a vital role in the economic development of nations worldwide. However, Pakistan has struggled to attract significant foreign investment over the years. In this article, we will explore the reasons behind the lack of foreign investment in Pakistan and potential solutions. Potential foreign investors are put off by Pakistan’s ongoing political unrest and growing security fears. Persistent regional conflicts, corruption allegations, and frequent changes in government contribute to an unpredictable business environment. This instability makes investors reluctant to invest in a country with high volatility, hindering Pakistan’s ability to attract crucial foreign investment for long-term economic growth. Insufficient infrastructure in Pakistan poses a significant barrier to international investment. Challenges such as inadequate transportation infrastructure, power outages, and limited access to quality healthcare and education hinder business growth. These limitations negatively impact the overall business climate, making it difficult for foreign investors to operate successfully. Pakistan’s complex taxation system burdens businesses with high taxes and cumbersome procedures, discouraging foreign investors seeking simplicity and transparency. Streamlining the taxation system can attract foreign investment by creating a favourable business environment. The absence of a skilled and educated workforce is a concern for foreign investors. While Pakistan has a sizable young population, there exists a gap between workforce skills and industry requirements. Investments in education and vocational training can bridge this gap, making Pakistan’s workforce more attractive to foreign investors. Bureaucratic red tape in Pakistan often hampers foreign investment. Lengthy and complex procedures for permits, licences, and approvals make it difficult for businesses to operate smoothly. Simplifying regulations and creating a transparent, efficient system can encourage foreign investors to consider Pakistan as a viable investment destination. The lack of foreign investment in Pakistan can be attributed to various factors, including political instability, inadequate infrastructure, a complex taxation system, a lack of a skilled workforce, and regulatory challenges. Addressing these issues requires a multi-faceted approach involving stable governance, infrastructure development, tax reforms, educational improvements, and bureaucratic reforms. By tackling these concerns, Pakistan can create a more conducive environment for foreign investment, fostering economic growth and development. MUHAMMAD SAAD BAJWA LAHORE
Escalating harassment issue
War is not a solution to settle a dispute. And there is no solid example in which international mediation has brought two conflicting parties at peace. This is a lesson that India and Pakistan can learn from the Israel-Palestine conflict. To resolve their disputes through bilateral dialogue is the only way forward. Unless the practice of populist politics thrives in India, the chances of such a diplomatic effort will remain nil
Lahore – Ph: 042-36300938, 042-36375965
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Islamabad – Ph: 051-2204545
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I am writing to draw the government’s attention to a pressing issue that is on the rise – harassment. Pakistan, being densely populated, is currently grappling with a significant challenge related to this paramount problem. The country is witnessing a surge in harassment cases, particularly in terms of sexual harassment, verbal abuse, and more. The situation is especially critical concerning workplace harassment. Regrettably, addressing this alarming matter has become a substantial challenge for the government, leading to acute hardships for the affected individuals. Each year, a considerable number of people face harassment due to these pervasive issues. Therefore, I urge the relevant authorities to take immediate and decisive action against this paramount concern as swiftly as possible. It is imperative that the matter be promptly addressed and resolved. SAFIA HASIL LAHORE
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COMMENT 05
The fall of humanity WB and ADB’s loan for Rohingyas Friday, 8 December, 2023
Loans the result of ducking responsibility
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Nur-MohaMMad Sheikh
IX years have passed since Myanmar’s military unleashed a ruthless onslaught on the Rohingya communities scattered throughout the country’s Rakhine State. The head of the UN agency for human rights later described the military’s actions as “acts of horrific barbarity,” possibly “acts of genocide,” and “a textbook example of ethnic cleansing.” Since then, over a million Rohingya refugees have fled to Bangladesh in search of protection. The expenses and ramifications for Bangladesh’s economy, society, and environment have prompted her to use a major percentage of her limited resources, despite the fact that she has never received enough financial aid for Rohingya refugees. Instead, help has been declining over time. Contributions from contributors made up only 60 percent of the necessary funding in 2020, compared to roughly 72 percent to 75 percent two years prior. To support the refugees, the Rohingya Refugee Crisis Joint Response Plan 2022 requested about $881 million in funding. A little over 50 percent went to Bangladesh. With a 51 percent shortage, the situation is even more dire this year, in 2023.
Financial support for additional extended crises in 2022 and 2023 appears to align with the prevailing political inclination towards and donor commitments for Ukraine. For example, the Afghanistan Humanitarian Response Plan for 2022 got fewer than half of its funding application in 2022, while having exceptionally well-funded levels in 2021 (112.8 percent). From January 2020 to September 2023, Australia allocated $11.2 million annually to support the Rohingya population. But it will only give them $6.4 million a year between July 2023 and the end of 2025. That’s a 43 percent decrease. Though the 2022 “Stand Up for Ukraine” global pledging campaign raised $8.9 billion, the fastest and most generous responses a humanitarian flash appeal has ever received, at the 2022 international donor conference on Yemen, a country of 23.4 million people in dire crisis with war and famine, the UN appealed for $4.3 billion for humanitarian aid. World leaders offered less than one-third of that. This so-called “aid void” is increasing for Myanmar, the Sahel, and Ethiopia. 10 percent and 14 percent, respectively, of Sweden and Denmark’s respective aid budgets for 2021 will be diverted from other aid priorities to Ukraine. Denmark further declared that in order to finance the reception of fleeing Ukrainians, it will postpone development funding that it had designated for Syria, Mali, Burkina Faso, and Bangladesh (Rohingya). The United Kingdom has declared its intention to
It is important that the Rohingya refugee situation is not overlooked. Our first responsibility is to respond to any humanitarian crisis in the same way. We have to avoid bias. The Rohingya crisis, the fastest and greatest refugee inflow since the Rwandan massacre in 1994, should get equal attention with the crises in Ukraine, Gaza, Yemen, and Afghanistan
stop funding any aid that is deemed “non-essential.” According to estimates, this might lead to a 25 percent reduction in the spending budget, on top of the reductions already made since 2020, with more aid cuts going to countries like Sudan and Syria. With the exception of its considerable assistance to Ukraine, the USA has also reduced its humanitarian budget by $1 billion from 2021 to 2022. Critical programmes had already been trimmed in the West Bank and Gaza, while Yemen’s food rations had been drastically cut. Owing to a lack of resources, WFP was compelled to reduce ‘General Food Assistance’ voucher value from $12 to $10 per person per month in March 2023, and then to just $8 in June. However, 45 percent of households who are Rohingya do not consume enough food. The rate of global acute malnutrition in Rohingya children is 12 percent, which is somewhat lower than the WHO’s 15 percent “emergency” level but still considered serious. Prior to the reduction in rations, around 40 percent of children had stunted growth and 40 percent of pregnant and nursing mothers were anaemic. The effects of these cuts, according to UN experts, will be horribly predictable and include a rise in the incidence of acute malnutrition, newborn mortality, violence, and even death. Additionally, it will fuel more instability in the area, and some Rohingya may come to the conclusion that it is preferable to risk dying at sea and entrust their lives to traffickers and smugglers than to starve to death in the camps. As a result of the declining level of international assistance, the Bangladeshi government was forced to request a loan in order to support the Rohingya population— a first since the 2017 migration. With $315 million in grants and $385 million in loans, the World Bank has committed to paying $700 million. A grant of $150 million and a loan of the same amount totalling $300 million have also been guaranteed by the ADB. Which is just one illustration of the “falls of humanity”. Over the years, Bangladesh has taken on more than its fair share of the responsibility for housing and aid-
ing more than a million Rohingya refugees. Bangladesh welcomed the persecuted Rohingyas into its borders on humanitarian grounds, but this does not oblige Bangladesh to perpetually bear further financial responsibilities that require the joint efforts of the international community. Grants, not loans, should be the mode of support offered by the ADB and the World Bank. Aiding Bangladesh in addressing the massive obstacles brought about by the Rohingya crisis presents a chance for institutions such as the World Bank and ADB to show that their purpose extends beyond the indiscriminate lending business. Additionally, the international community needs to make sure that the burden of this humanitarian disaster caused by persecution is shared fairly and equally. The international community’s callous abdication of responsibilities and abandonment of Bangladesh to almost entirely bear the brunt of the load is not a just, prudent, or sustainable policy. For its part, Bangladesh has already experienced a great deal of stress due to the economic, social, environmental, and security issues brought on by the Rohingya genocide. In order to guarantee a just and equal allocation of the associated expenses, the government of Bangladesh ought to initiate communication with the global community. The international community has to provide Bangladesh with more assistance in resolving the Rohingya refugee issue, especially those nations that have multifaceted interests, stakes, and leverage in Myanmar. The UN must also work to address the root causes of the crisis and promote repatriation efforts. It is important that the Rohingya refugee situation is not overlooked. Our first responsibility is to respond to any humanitarian crisis in the same way. We have to avoid bias. The Rohingya crisis, the fastest and greatest refugee inflow since the Rwandan massacre in 1994, should get equal attention with the crises in Ukraine, Gaza, Yemen, and Afghanistan.
Israel can’t defeat Hamas Does India have a hit list? Whatever comes next, heads must roll in Delhi in battle, so what’s next? All the conflict in Gaza is achieving is civilian misery, and the US can stop it at any time
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FTER a seven-day lull in the war between Israel and the Palestinian armed groups in Gaza, the resumption of hostilities has been given another green light from Washington. Having failed to lead its Israeli allies towards military victory, the US is permitting a dangerous escalation and rejects a peaceful solution that will prevent further civilian suffering. Just minutes after the departure of US Secretary of State, Antony Blinken, from Palestine/Israel, the war in Gaza resumed, with a large aerial onslaught on Palestinian civilian infrastructure resulting in the deaths of nearly 200 civilians. The White House spokesperson John Kirby announced continued support for Israel’s “right and responsibility to go after Hamas,” but to what end is unclear. As the likes of former Israeli Prime Minister Ehud Barak admits that Hamas is far from falling apart, it begs the question: what really is the point of this war? Following six weeks of war that resulted in likely over 20,000 Palestinian deaths, the Israeli military has failed to produce any evidence that it has made a significant dent on the military capabilities of Hamas and the other Palestinian armed groups in the besieged coastal enclave. While Israel forced its way into the major hospitals in northern Gaza, claiming that Hamas was using the sites as bases and command-and-control centers, the evidence produced by the Israel Defense Forces (IDF) does not support these allegations. The US government backed the idea that a command node had existed at the Shifa Hospital, and when the Israeli forces entered the hospital compound they presented weapons they claimed to have found there, as well as an empty tunnel. Any such images released to the public are curated and edited by the Israeli army, but if independently verified, they could serve as evidence of militant presence – still, not proof of a control center or node. Little of note was discovered in other hospitals, and American claims of having solid intel that confirms Israeli claims is dubious, considering previous public statements such as US President Joe Biden’s words about having seen “confirmed pictures of terrorists beheading children” which the White House later had to walk back. At the start of this war, Israeli Prime Minister Benjamin Netanyahu announced that his government was going to “crush Hamas,” a goal that the US government backed publicly. Yet, Hamas has managed to not only inflict the largest blow against Israel in its history, but has also defended Gaza on the ground with countless documented cases of success against Israeli forces. The whole world is now talking about the formation of a Palestinian State, an idea that had been all but abandoned in favor of unconditional normalization agreements between Arab States and Israel, prior to the war. In addition to this, one of the predictable outcomes of the Israeli war on Gaza, has been a tremendous uptick in support for Hamas throughout the occupied territories. In the Middle East and throughout
the Muslim World, Hamas militants have become heroes and are widely viewed as a valiant national resistance. The Saudi-Israeli normalization deal, which the Biden administration’s Middle East policy revolved around, is dead in the water at this time as Riyadh moves closer to Tehran. According to Israeli polling data, Benjamin Netanyahu is only trusted by 4% of Israelis, while the most trusted national figure was recorded to be Israeli military spokesperson Daniel Hagari. Hagari, despite being trusted by Israelis, was turned into the “there is a list guy” and an online meme, after presenting a video in which he claimed a regular Arabic calendar named “terrorists”. That video, in which he referred to the list, was supposed to show evidence of Hamas keeping hostages at the Rantisi Children’s Hospital. At least 10 countries have either withdrawn ambassadors from, or suspended ties with, Israel. All this as the largest pro-Palestinian protests to have ever taken place in the West continue to occur in capital cities like London and Washington DC. This, combined with a considerable drop in Joe Biden’s approval rating, all spell disaster for the USsupported war in Gaza. The White House claims that it is putting certain restrictions on the Israeli army as it plans to invade the south of Gaza, but in the same breath offers unconditional support for Israel’s actions. At no point has the US government taken any responsibility for what has happened since October 7, there has been no apology for their lies, no change in strategy and no acknowledgement in the role that Washington has played in creating the situation on the ground in Gaza that facilitated the Hamas attack. The real question now is: Where do we go from here? Israel aimlessly fights in Gaza and continues to kill thousands of Palestinian civilians, there is no sign of a Hamas defeat on the horizon and the humanitarian situation, which is described as “the worst ever” by UN Relief Chief Martin Griffiths, is further deteriorating. While these elements are all to be taken seriously, there is also the specter of a regional war erupting in the event that the Israeli attack escalates against Gaza. Lebanese Hezbollah is currently engaged in frequent battles along the Lebanese border and has been expanding the scope of its attacks on Israeli military targets. The prisoner exchanges which took place between Israel and Hamas proved that the Palestinian group was capable of being engaged diplomatically. The exchange also worked to expose to the world that Israel was also holding women and children captive without any charges. Israeli civilian captives who were released, the majority of whom were filmed smiling, shaking the hands of and thanking Hamas fighters upon their releases, have been blocked from speaking to the media about their experiences directly. On the other hand, Palestinian women and children recounted abuse, torture and humiliation that they had suffered at the hands of their Israeli jailers. This represented another public-relations debacle for the Israeli government, who came off looking more guilty than Hamas. The US government is in the driver’s seat of the war. It has the power to end the conflict at any time but continues to prolong this disaster. During the seven-day pause in hostilities, nothing shifted in Israel’s favor to make its victory possible. There can be no military solution to the war in Gaza, the US must recognise that this conflict will never end until the Palestinian people are granted justice and freedom. For 75 years the governments of the collective West have ignored the suffering of the Palestinian people, they have never been objective peace-brokers. Violence begets violence and hate begets hate, it is not possible to simply murder the Palestinians into submission.
Robert Inlakesh is a political analyst, journalist and documentary filmmaker currently based in London, UK. He has reported from and lived in the Palestinian territories and currently works with Quds News.
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PROJECT SYNDICATE ShaShi Tharoor
HE United States has charged Indian national Nikhil Gupta, a 52-year-old narcotics and weapons trader, for plotting to murder a prominent Sikh separatist, Gurpatwant Singh Pannun, a US citizen, in New York City. The indictment, which alleges that an Indian government official in New Delhi paid Gupta to arrange the killing, has cast a shadow over India’s relationship with the US as well as the country’s global image. We have been here before. Just a couple of months ago, Canadian Prime Minister Justin Trudeau claimed that there were “credible allegations” about a “potential link” between India’s government and the fatal shooting in June of Sikh separatist Hardeep Singh Nijjar, a Canadian citizen, on Canadian soil. India responded with outrage, demanding the withdrawal of 41 Canadian diplomats from New Delhi. But whereas Trudeau could not prove that the Indian government was involved in Nijjar’s killing, the US Justice Department is prepared to take its evidence to court. Among the damning details is one that seems to link the two killings: Gupta’s handler in New Delhi allegedly sent him a video clip “showing Nijjar’s bloody body slumped in his vehicle,” which Gupta carelessly shared with the hitman he had hired. The hitman turned out to be an undercover agent for the US Drug Enforcement Administration (DEA), stringing Gupta along so he could collect as much evidence as possible. Fortunately for him, Gupta seems to have carried out his assignment with extraordinary ineptitude, leaving behind enough evidence to incriminate everyone involved. His handler in New Delhi seems to have been little better, supplying Gupta with videos, messages, and detailed instructions. It all amounted to giving the US authorities the “smoking gun” that will likely convict Gupta. The incident is curious for several reasons. For starters, it is inconsistent with Indian Prime Minister Narendra Modi’s well-publicised priorities. Modi’s government has gone to great lengths to promote India as a responsible global power, an influential voice in the G20, and a leader of the Global South, boasting to Indians that their country has become a “Vishwaguru,” or “teacher to the world.” Under Modi, India has also been deepening its relations with the US, motivated not least by shared concerns about Chinese aggression. Orchestrating assassinations of citizens of friendly foreign countries—violating their sovereignty, the rule of law, and established international norms—seems an odd way to pursue these objectives. That said, an assassination programme would not be entirely out of line with Modi’s carefully crafted domestic image as a tough, decisive, no-
The writer is a freelance columnist
nonsense strongman who will go to any lengths to protect his people. Is it possible that elements within the Indian government acted on their own to bolster that image? The fact that Gupta was not a trained operative—or even a competent criminal—suggests that the effort to assassinate Pannun was not orchestrated at the very top. Whatever comes next, heads must roll in Delhi. Someone will need to take the blame not only for planning such an operation, but also for behaving with such spectacular incompetence. More broadly, the crisis must be urgently defused and any damage to bilateral relations contained. The Gupta case is also curious because it suggests that targeting Sikh separatists is a high priority for India. But while there was a dangerous movement calling for a separate state of “Khalistan” in the 1980s (its members even blew up an Air India plane, killing all 329 people on board), separatism does not have any traction within India anymore, even in the Sikh-majority state of Punjab. It helps that, in recent decades, India has had a Sikh prime minister (Manmohan Singh) and army chief; two of India’s last three ambassadors to the US have been Sikhs. The cause of Khalistan is a fantasy nurtured by a tiny minority in the Sikh diaspora—hardly a threat that would justify jeopardising India’s global leadership ambitions, let alone its relationship with the US. This raises the possibility that Gupta’s “handler” in New Delhi— whom the US Justice Department has identified but not named—was a rogue operative hoping to curry favour with the “tough guys” in Modi’s entourage, rather than a representative of the highest authorities. Of course, one must also consider the possibility that Indian officials, lulled into complacency by America’s overt courtship of India as a counterweight to China, foolishly believed they could get away with anything. If so, high-level accountability is vital. Indians deserve better than vainglory and recklessness at the top of our policymaking apparatus. So far, India’s government has not expressed the kind of self-righteousness it displayed after Trudeau’s accusations. While its official spokesperson reiterated that conducting assassinations abroad “is contrary to government policy,” he also announced the creation of a high-level inquiry committee tasked with looking into US concerns about bilateral security cooperation—in particular, “the nexus between organized criminals, gun runners, and terrorists.” The US seems interested in limiting the diplomatic fallout, even as it presses for an investigation. But the damage to the bilateral relationship could soon begin to materialise. For some months, there has been chatter in New Delhi that US President Joe Biden might be the chief guest at India’s Republic Day celebrations on January 26, perhaps alongside the leaders of the Quad’s other members, Australia and Japan. This scenario—which would be a major pre-election public-relations triumph for Modi—has been jeopardised. In some quarters, India is now portrayed as a reckless global actor—a trigger-happy country with a hit list of foreign citizens it is determined to kill. That undoes decades of striving to craft India’s image as a responsible power ready to take its place at the world’s high table. When the Gupta case is resolved, India must show the world that it is truly devoted to the rule of law, at home and abroad.
Shashi Tharoor, a former UN under secretary general and former Indian Minister of State for External Affairs and Minister of State for Human Resource Development, is an MP for the Indian National Congress.
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XI JINPING URGES CHINA, EU TO STEP UP COOPERATION
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BEIJING
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HINESE President Xi Jinping on Thursday called on China and the European Union (EU) to be partners for mutually beneficial cooperation, strengthen two-way political trust, build strategic consensus, cement the bonds of shared interest, steer clear of various kinds of interference, and step up dialogue and cooperation for the good of their people. Xi made the remarks when meeting with President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen, who are in China for the 24th China-EU Summit at the Diaoyutai State Guesthouse in Beijing. Xi said that since the end of last year, the China-EU relationship has shown a good momentum of consolidation and growth, and the China-EU high-level dialogues in the strategic, economic and trade, green, and digital fields have produced rich outcomes, adding this serves the interests of both sides
Friday, 8 December, 2023 | islamaBaD
and meets the expectations of their people. Noting China and the EU are two major forces advancing multipolarity, two major markets in support of globalization, and two major civilizations championing diversity, Xi said that amid the increasingly turbulent international situation, the China-EU relationship has strategic significance and implications for global peace, stability and prosperity. “It is incumbent on both sides to provide greater stability for the world and stronger impetus for development.” Stressing that this year marks the 20th anniversary of the China-EU comprehensive strategic partnership, Xi said the two sides need to take stock of history, navigate the trend of the world, and uphold the apt description of the China-EU relationship as a comprehensive strategic partnership. The two sides need to consolidate the political foundation, view each other from a strategic perspective, fully leverage the guiding role of the China-EU Summit and the five high-level dialogues, strengthen strategic communication, and increase understanding and properly handle differences through construc-
tive dialogue, Xi said. He urged the two sides to develop a right perception of each other, promote mutual understanding and trust, honor commitments, do the right thing and be wholehearted in developing China-EU relations. “We should not view each other as rivals just because our systems are different, reduce cooperation because competition exists, or engage in confrontation because there are disagreements.” There is a high degree of complementarity between the Chinese and EU economies, Xi said, adding the two sides should do more to increase the breadth and depth of cooperation and tighten the bond of shared interests. Noting the Chinese economy enjoys a good momentum of steady growth, Xi said that as China pursues high-quality development and high-standard opening up, it sees the EU as a key partner for economic and trade cooperation, a preferred partner for scientific and technological cooperation, and a trustworthy partner for industrial and supply chain cooperation. “China is ready to work with the EU for
mutual benefit and common development,” said Xi, urging the two sides to leverage their complementary strengths in terms of market, capital and technology to upgrade traditional industries and foster emerging ones, explore new modes of cooperation, foster new areas of growth, and jointly improve industrial and
PSO TO SELL 30% STAKE IN PRL TO CHINA’S UNITED ENERGY GROUP
DEAL TO ENABLE PRL RECEIVE $1.5B TO DOUBLE ITS REFINING CAPACITY AND PRODUCE EURO 5-COMPLIANT FUEL PROFIT
Monitoring Desk
Pakistan State Oil (PSO) has agreed to sell its over 30% stake in Pakistan Refinery Limited (PRL) to a Chinese firm, United Energy Group (UEG), for an investment of $1.5 billion to double the refining capacity and produce Euro 5 compliant fuel. According to a report published by The Express Tribune, the deal will enable PRL to increase its production capacity from 50,000 barrels per day (bpd) to 100,000 bpd, meet domestic consumer demand, switch from basic hydro-skimming to a deep-conversion process and eliminate the production of loss-incurring furnace oil. The project will also help PRL to produce environmentally friendly high-speed diesel (HSD) and motor
spirit (petrol) of Euro 5 specifications, which have lower sulphur content and emissions than the current Euro 2 standard. PSO is a major shareholder of PRL with a 63.6% stake. As per the report,
PRL’s board has also given its nod to the sale of a 30% stake to the Chinese company. PRL and UEG have formalised their collaboration through a memorandum of understanding (MoU) signed on October
18, 2023 in China. Under the MoU, both companies have expressed the desire to establish a strategic cooperation relationship on the basis of mutual interest in the energy industry in Pakistan. PSO is selling its stake in PRL to overcome its liquidity problems and secure its fuel supply. The state-run oil marketing company is facing difficulties in arranging fuel supplies due to its staggering circular debt as its receivables have swelled to over Rs700 billion, which has resulted in defaulting on its payment liabilities to local and international fuel suppliers. It is also part of a joint venture of Pakistani companies for developing a refinery project in partnership with Saudi Arabia. On November 21, PRL informed the PSX through a notice that it had signed key technological license agreements with global industry leaders Honeywell UOP and Axens for its Refinery Expansion and Upgrade Project (REUP).
Zooming into strength, resilience and potential of Chinese economy BEIJING XinhuA
China’s economic recovery has continued to gather steam against all odds this year, injecting much-needed certainty and vitality into a global economy that has been clouded by slowing growth and rising geopolitical tensions. While some sectors in the country are feeling the pinch of economic headwinds from both home and abroad, others are emerging from negative impacts faster and stronger than expected. The country’s economy expanded 5.2 percent year on year in the first three quarters of the year, marking the strongest performance among the world’s major economies. Looking beneath the headline GDP data, the following facts and figures reveal the strength, resilience and potential of the world’s second-largest economy, which will generate growth in the year and longer term. The Chinese economy is on track to achieve its growth target of around 5 percent set for 2023, with many analysts expecting the growth in 2024 to exceed this year. The economy has shown emerging signs of recovery, and the government has rolled out a flurry of supportive measures to consolidate recovery while fostering new drivers of growth for the longer term. Although recovery will be accompanied by a wave-like development with
many twists and turns, the long-term sound fundamentals of the economy have remained unchanged. The country’s consumer market, which is underpinned by a population of over 1.4 billion and an expanding middle-income group that exceeds 400 million, will continue to power the country’s economic growth and attract businesses from all over the world. Tourists shop at a duty-free shopping complex in Haikou, south China’s
Hainan Province, July 12, 2023. (Xinhua/Yang Guanyu) Consumer spending is playing an increasingly important role in driving growth, contributing 83.2 percent to economic growth in the first three quarters. As the world’s second-largest consumer market and the largest e-commerce market, the country has seen its retail sales beat expectations, with a rise of 7.6 percent in October. Additionally, its express delivery sector has handled a record
of 120 billion parcels so far this year, suggesting continuously recovering consumer demand. In the next 15 years, the country’s middle-income group is expected to exceed 800 million, further driving the development of an enormous market. The increasingly prosperous population and continued urbanization process mean there is still fairly strong demand for consumption and investment, and these will drive the economy’s long-term stable development. China’s economy has demonstrated remarkable resilience. It has intensified macro-economic regulation this year to cope with emerging challenges, and maintained overall economic and social stability. With the policies gradually taking effect, consumer inflation has remained mild, employment has become stable, resident income has grown steadily, and financial risks have been held under control. The Chinese government’s debt level remains in the middle and lower range internationally, along with a mild inflation, leaving the policymakers with ample policy space and options to maneuver in the event of any unexpected challenges. Other factors making up the resilience of the economy, especially the industry, include a complete industrial system and rapid technological progress.
supply chains. The two sides should also bolster people-to-people exchanges and facilitate personnel interflows, he added. Xi underscored that Chinese modernization and European integration are strategic choices that China and Europe have made respectively with the future in mind.
Govt considers dropping 137 non-starter projects to save Rs116bn PROFIT
news Desk
The government is contemplating the removal of all 137 non-starter projects with zero financial progress from the Public Sector Development Program (PSDP) 2023-24. This move aims to conserve an allocation of Rs116 billion in the current fiscal year. Sources reveal that there is also a possibility of transferring provincial projects funded by the federal PSDP to their respective provinces. According to insiders, provincial projects have been encroaching on the federal PSDP at the expense of federal nature projects. Currently, provincial projects claim 33 percent of financial resources in the federal PSDP 2023-24, with an allocation of Rs314 billion. Due to resource constraints, critical national strategic projects are not receiving funding, leading to cost and time overruns and hindering accrued benefits. Despite resource limitations, substantial funding is being provided to Azad Jammu and Kashmir, Gilgit-Baltistan, and the merged districts of Khyber Pakhtunkhwa, in line with federal responsibilities and commitments. The summary of provincial nature projects, costing Rs1,373 billion, includes Punjab at Rs195 billion, Sindh at Rs327 billion, KP at Rs69 billion, merged districts at Rs4 billion, Balochistan at Rs317 billion, and an umbrella/block allocation of Rs390 billion, with Rs90 billion for the Special Development Goals (SDGs) Achievement Program under the Cabinet Division. Sources suggest that the government is contemplating various measures. These include dropping 137 non-starter projects to save Rs116 billion and withholding further funds from the SDGs Achievement Program to conserve Rs29 billion.
Blue Carbon join forces with Niger state to plant one billion trees DUBAI
Agencies
Blue Carbon, the UAE-based environmental solutions developer, underlined its commitment to environmental stewardship by officially signing a Memorandum of Understanding (MoU) with Niger State, the largest state in Nigeria. The formalization of this strategic partnership at COP28 marks a significant stride in the pursuit of climate change objectives, underscoring the company’s commitment to advancing endeavours in both mitigation and adaptation to combat the impacts of climate change. The MOU signing ceremony took place in Dubai, UAE, involving Mohammed Umaru Bago, Governor of Niger State, and Sheikh Ahmed Dalmook Al Maktoum, Chairman of Blue Carbon. The afforestation initiative seeks to address climate change impacts while promoting sustainable development and economic growth in the area. The MOU outlines a collaborative effort between Blue Carbon and Niger State to advance carbon sequestration efforts through the planting of 1 billion trees across 760 hectares. Blue Carbon, having expertise in carbon credit origination with a particular focus on nature based solutions, will guide and implement the afforestation effort. Beyond the afforestation project, the MOU outlines arrangements for implementing a pilot project on cookstoves in Niger State. This effort tackles environmental and health issues linked to conventional cooking practices by introducing cleaner and more efficient cookstoves.
Over 10,000 FBR officials identified as non-filers AN FBR LETTER WARNS THOSE FAILING TO FILE RETURNS BEFORE DECEMBER 31 WILL BE SUBJECTED TO PENALTIES PROFIT
news Desk
In the past two years, more than 10,000 employees of Pakistan’s Federal Board of Revenue (FBR) have been flagged as non-filers of income tax returns. According to a report published by Dawn, quoting sources, these revelations have raised concerns about the efficacy of efforts to formalise the economy and expand the tax base, especially when the tax authority itself grapples with ensuring its workforce complies with tax regulations in the tax years 2022 and 2023. The trend of non-filing is notably prevalent among officials below the grade-17 level nationwide. Despite the high incidence, the FBR has yet to take action against these non-compliant employees. The total workforce of the tax authority stands at 25,000 nationwide, with officers
above grade 17 numbering 1,700. In 2022, the number of non-filers among officers of grade 17 and above was over 500, slightly decreasing to around 300 in 2023. Despite a special extension until December 31, only 1,400 officers in this category have filed their tax returns for 2023, highlighting persistent tax non-compliance among higher-grade officers. For the tax year 2023, the Inland Revenue Service reported an 88 percent compliance rate among officers, while the customs group officer category showed an 80 percent compliance rate. The relatively high compliance rate for 2023 is attributed to the special extension granted by the FBR chairman, allowing employees until December 31 to file their returns, in contrast to the standard deadline for common citizens, which expired on October 31. Among officials below grade 17 across the country, the non-compliance rate for tax
return filing ranges from 60 percent to 70 percent. This category comprises approximately 23,300 employees nationwide, with an estimated 10,000 employees being habitual non-filers, according to official estimates. A recent exercise conducted by the Chief Commissioner of the Regional Tax Office-1 in Karachi revealed that nearly 307 officers failed to file their tax returns for 2022 and 2023. If this exercise were extended to 22 Regional Tax Offices (RTOs), two Corporate Tax Offices (CTOs), and three Large Taxpayer Units (LTUs), the number of non-compliant officials could potentially reach the thousands. An FBR letter warns that those failing to file returns before December 31 will be subject to penalties. However, the prevailing non-compliance levels within the FBR suggest that these non-compliant officers may contribute to the widening of the country’s narrow tax base.
Friday, 8 December, 2023 | ISLAMABAD
CORPORATE CORNER Pakistan’s Markings Publishing honoured at Global Gourmand Awards
KARACHI: Markings Publishing, Pakistan’s publishing house renowned for its exquisite coffee table books and exceptional publications, was honoured with four awards at this year’s Gourmand Awards in Riyadh. Competing against 198 countries, Markings has already distinguished itself by being a five-time winner since 2014 and representing Pakistan at a global platform through the premier cookbook recognition authority. This year, ‘Flavours of the Frontier’ by Pushpa Baga, ‘Deliciously Yours’ by Lal Majid, 'Virsa: A Culinary Journey From Agra to Karachi’ by Shehar Bano Rizvi, and ‘A Taste of Pakistan in Fusio’ by Shaziah Zuberi, all published by Markings, were celebrated for their outstanding contribution to Silk Road food culture and history. PR
SNGPL crackdown goes on as another 178 illegal connections detected in Punjab, KP and Islamabad
LAHORE: During the ongoing crackdown against gas pilferers, SNGPL continued raids in Punjab, Khyber Pakhtunkhwa and Islamabad, disconnecting another 178 connections while 360 under billing cases processed ; Rs 9.19 million fine imposed In Lahore, the regional team disconnected 24 connections on illegal use of gas while another 3 on use of compressor and 41 under billing cases have been processed.The team also imposed fine of Rs 0.45 million against gas theft and under billing cases . The Regional team also imposed 2 FIRs against gas theft case.The regional team of Rawalpindi disconnected 5 connections on illegal use of gas.The regional team of Islamabad disconnected 5 connections on illegal use of gas.In Multan 15 connections were disconnected on illegal use of gas ,137 under billing cases have been processed ,0.21million booked against Under billing and gas theft cases and One FIR also lodged by the team.The team of Sheikhupura disconnected 15 connections on illegal use of gas while another 2 on use of compressor,20 under billing cases have been processed and fine of Rs 2.58 million imposed against gas pilferes.In Sargodha 66 under billing cases have been processed and amount of Rs 0.06 against Under billing cases. PR
SAP highlights role of technology in shaping sustainable future
KARACHI: Saquib Ahmad, Managing Director of SAP Pakistan, Iraq, and Afghanistan, highlighted the pivotal role of adopting innovative technology solutions in fostering sustainability, in Pakistan and globally, in a recent meeting at a local hotel.SAP works with the concept of the 'intelligent enterprise,' wherein advanced technologies such as AI, IoT (Internet of Things), and Analytics are harnessed to create more sustainable business models. These tools enable companies to improve resource efficiency, reduce energy consumption, and make informed decisions that contribute to sustainability. PR
SSGC automates 50 town border stations as MD inaugurates pilot project
KARACHI: Saquib Ahmad, Managing Director of SAP Pakistan, Iraq, and Afghanistan, highlighted the pivotal role of adopting innovative technology solutions in fostering sustainability, in Pakistan and globally, in a recent meeting at a local hotel.SAP works with the concept of the 'intelligent enterprise,' wherein advanced technologies such as AI, IoT (Internet of Things), and Analytics are harnessed to create more sustainable business models. These tools enable companies to improve resource efficiency, reduce energy consumption, and make informed decisions that contribute to sustainability. PR
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SILK ROAD FORUM: EXPERTS SAY BRI IS MOST SIGNIFICANT INITIATIVE OF 21ST CENTURY NEWS
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BEIJING
STAFF REPORT
HE forum “Benefiting All Mankind: Dialogues with the Silk Road” was held, China Economic Net (CEN) reported on Thursday. It was co-sponsored by the Academy of Contemporary China and World Studies under China International Communications Group (CICG), the Pakistan-China Institute, the European Union Asia Centre, and the Cultural Communication Center of CICG. Gao Anming, vice-president and editor-in-chief of CICG, and Mushahid Hussain Sayed, Chairman of Pakistan’s Senate Defence Committee and PakistanChina Institute, attended the meeting and delivered speeches. Twelve Chinese and foreign think tank experts, including Pakistani expert on international studies Abdur Rahman, delivered keynote speeches on the theme of “Inheriting the Silk Road Culture,
Jointly Promoting People’s Well-being”. Gao pointed out that over the past 10 years, the Belt and Road Initiative has brought China and its partner countries closer together, and has deepened exchanges and mutual understanding among different civilizations. “Rooted in history and looking to the future, BRI has harnessed the synergy of civilizations to foster the development of
a community with a shared future for mankind,” said Gao. Mushahid stated that BRI is the most significant initiative of the 21st century, lifting 400 million people out of poverty globally, primarily through flagship projects like the ChinaPakistan Economic Corridor. “As a new platform for international cooperation, BRI will achieve a more open development prospect based on the
ISSI-organized flagship event ‘Islamabad Conclave-2023’ concludes ISLAMABAD PR
The Institute of Strategic Studies Islamabad (ISSI) concluded its 2-day annual flagship event, “Islamabad Conclave 2023,” today. DG ISSI Ambassador Sohail Mahmood presented the key takeaways from the 5 Working Sessions. Highlighting the takeaways of the first working session, he reiterated that the emerging global landscape is marked by the expansion of alliances, collapsing existing arms control regimes, nuclear modernisation, militarisation of outer space, cyberspace, artificial intelligence, and biotechnologies. Strategic stability is constituted by a stable equilibrium where: there is no incentive to go to war; there is little temptation for arms race and equilibrium will be least affected by technological or political development.
Strategic stability in South Asia is adversely affected by Indian actions on all these accounts. The new Indian construct of ‘Southern Asia’ has sought to change the dynamics of strategic stability in South Asia by trying to drag China into an existing Pakistan-India equation.
British Asian Trust, Citi Foundation celebrate partnership to create sustainable livelihoods
The British Asian Trust and Citi Foundation, in collaboration with partners CIRCLE Women and AWF Pvt. Ltd, proudly celebrated the success of the ‘Digital Acceleration of Youth-led Microenterprises’ project. This initiative, spanning 18 months, has empowered over 1000 young individuals, fostering sustainable livelihoods through digital literacy and enterprise growth. Distinguished guests gracing the occasion included Ahmed Bozai (Citi – Country Officer, and British Asian Trust’s Pakistan Advisory Council Member), Martin Dawson (Deputy Head of Mission, Karachi), and Leah Severino (Economic Unit Chief US State Department). They were joined by supporters, partners, and friends of the Trust. The event reinforces the
British Asian Trust's ability to convene high-level stakeholders across the private and corporate sector to make a real difference to people’s lives.
Pakistan Engineering Council condoles death of engineer
Mobilink Bank reaffirms commitment to gender responsive climate finance at COP28 UAE
ISLAMABAD: A terrorist incident occurred between 8 and 9 o'clock on the night of December 4 in the Bahara Kahu area of Islamabad, resulting in the brutal murder of the innocent and qualified PEC Engineer Asim Lang and his wife Rida e Noor. Their one-and-a-half-year-old daughter also sustained injuries in the attack. In this regard, a condolence meeting was convened in the Pakistan Engineering Council in which the participants strongly condemned the brutal murder of Assistant Registrar PEC Engineer Asim Lang and his wife. Participants of the meeting demanded immediate action and the arrest of the accused. Senior Voice Chairman of Pakistan Engineering Council Engineer Nayyar Saeed, Voice Chairmen from all four provinces Engineer Nasir Majeed, Engineer Ijaz Hussain Ansari, Engineer Dr. Niaz Ahmad Akhtar and Engineer Mukhtar Ali Sheikh, PEC Enrollment Committee members including all employees of PEC strongly condemned the incident. Engineer Syed Ashfaq Hussain Shah, Chairman of the Contractor Association of Pakistan and members of CAP, especially Engineer Sikandar Hayat Khattak, Engineer Muhammad Azhar Salam, and other members participated in this meeting. PR
Mushaal advocates for recognition, utilization of talent in-persons with special needs
ISLAMABAD: Special Assistant to the Prime Minister on Human Rights and Women Empowerment, Mushaal Hussein Mullick, emphasized the invaluable contributions of persons with special needs, stating that they are the gems of society. Speaking at an event organized by the Punjab Council of Arts, Rawalpindi, in collaboration with the Government Degree College for Special Education in connection with the International Day of Persons with Disabilities, Mushaal underscored the importance of adopting an inclusive approach to fully utilize the true capabilities of persons with special needs.Ms. Sabien Hussein Mullick (Focal Person to SAPM), Kashif Mehmood (Principal of the Government College for Special Education), Mirza Muzammil Mukhtar (President Mughal Welfare Society), Raja Imran Hussain (Founder Spring Association), and Waqar Ahmed (Director Punjab Arts Council, Rwp) participated in the event. Students from various special education institutions showcased. PR
ISLAMABAD: Pakistan's leading digital microfinance institution, Mobilink Bank has reaffirmed its commitment to fostering genderresponsive climate finance at the Conference of the Parties (COP28) held in UAE. Representing the bank, Chief Operating Officer Haaris Mahmood Chaudhary addressed an engaging panel on the importance of gender-intentional green financing for combating climate change.Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people's lives by creating opportunities for increased digital inclusion and driving economic growth across countries home to more than 8% of the world's population. Mobilink Bank's policies align with VEON's strategy, underpinned by a steadfast commitment to sustainability, diversity & inclusion, while fostering digital entrepreneurship, greater digital skills, literacy, and new job opportunities in its communities. PR
principle of planning together, building together, and benefiting together.” “Currently, the narratives of the East and the West are significantly different. In a multipolar world, we need a diverse response. China and Pakistan are good friends who are working together to promote the BRI towards a better future,” Mushahid added. In his keynote speech, Abdur emphasized that BRI has helped modernize Pakistan by creating numerous job opportunities and improving people’s well-being under CPEC. “Pakistan is capable of effectively managing the regional situation and achieving safer and more cohesive development. Meanwhile, we should strengthen the influence of social media and the availability of intellectual products, while also enhancing institutional connectivity to facilitate better people-to-people exchanges and achieve mutually beneficial outcomes,” said Abdur. At the meeting, a research report on “Chinese Modernization and Jointly Building the BRI with South Asian Countries” was released.
Capital Police, INL sign MOU to strengthen collaboration
According to the details, the Islamabad Capital Police and the International Narcotics and Law Enforcement Section (INL) have signed a memorandum of understanding (MoU) to enhance mutual cooperation for bolstering the operational capabilities of Islamabad Capital Police.The MOU was signed by Islamabad Capital City Police Officer (ICCPO) Dr Akbar Nasir Khan and the Director of INL at the Central Police Office Islamabad. Senior police officers from Islamabad Capital Police and officials from INL were also present at the signing ceremony.Under this MoU, INL will provide extensive support to enhance the operational capacities of Islamabad Capital Police. Additionally, INL commits to assisting Islamabad Capital Police in resolving any technical issues that may arise during operations.Prior to this collaboration, INL had organized various courses to enhance the skills of wireless staff of Islamabad Capital Police. Technical assistance was also provided to further improve the Islamabad Police communication systems. PR
HABIBMETRO SIRAT wins two awards at Islamic Retail Banking Awards
HABIBMETRO SIRAT Islamic Banking was honoured with two prestigious awards at the 9th Islamic Retail Banking Awards (IRBA). IRBA is the first-of-its-kind Islamic banking awards programme based on the Cambridge IFA efficiency model that involves meticulous analysis of global Islamic banking efficiency performance. The awards highlight, acknowledge and honour success stories in the Islamic retail banking sector. The award ceremony was held recently in Bahrain and attended by renowned dignitaries from the Islamic banking world. The Bank won Excellence Award for Advocacy, Awareness, and Literacy in Pakistan 2023, as well as the Best Islamic Retail Banking Media Campaign 2023. Mr. Saleemullah Shaikh, Head of Islamic Banking proudly accepted these accolades on behalf of HABIBMETRO SIRAT. PR
Meezan Bank partners with Befiler to provide tax facilitation services for freelancers
DG PSQCA visits various sections of PSQCA Complex in Karachi
KARACHI: Ms. Ismat Gul Khattak, Director General of the Pakistan Standards and Quality Control Authority (PSQCA), conducted a comprehensive visit to multiple sections of the PSQCA Complex in Karachi on Tuesday, accompanied by esteemed officials including Mr. Jamil Ahmed Shaikh, Secretary, Mr. Ali Bux Soomro, Director Import & Export, Mr. Khalid Ahmed Bablani, Director Finance, Mr. Muhammad Ashraf Palari, Director Conformity Assessment South, Mr. Noor Ahmed Jamali, Assistant Director Media, and other officers.During this visit, Ms. Ismat Gul Khattak expressed her firm commitment to fostering a culture of standards and quality, emphasizing PSQCA's pivotal role in advancing public awareness and supporting manufacturers. In her address, Ms. Ismat Gul highlighted PSQCA's indispensable role as a major stakeholder in Pakistan, dedicated to upholding standards and ensuring the provision of high-quality goods to consumers across the nation. PR
KARACHI: Meezan Bank, Pakistan’s leading Islamic bank, has recently formalized an agreement with Befiler to enhance the tax facilitation services available to freelancers. This collaboration aims to provide Meezan Freelancer Account holders, including those with Meezan Digi Freelancer Accounts, access to discounted rates on a suite of tax-related services offered by Befiler, a prominent player in the tax facilitation industry. Through this collaboration, Befiler will ensure a streamlined and efficient process for various taxation-related services for the Meezan Freelancer Account holders. The services provided by Befiler range from NTN registration with the Federal Board of Revenue (FBR) to the monthly filing of Sales Tax Returns. PR
Friday, 8 December, 2023
PRAYER TIMINGS
PMo quesTions why rePorT on alleged unauThorised Third-ParTy gas sale sTill noT subMiTTed NEWS
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UNLICENSED KONNECT GAS ALLEGEDLY INVOLVED IN UNLAWFUL SALE OF UNPROCESSED GAS TO CNG STATIONS SINCE 2020 PROFIT
AHMAD AHMADANI
HE Petroleum Division has so far not submitted a report to the Prime Minister’s Office (PMO) regarding alleged sale of gas by Konnect Gas to CNG Stations since 2020 and PMO has now sent a reminder to the petroleum division in this regard. The Prime Minister’s Office, in a most immediate letter dated 17th November, 2023 to the Secretary Petroleum Division, has asked to submit a comprehensive response without further delay regarding alleged un-authorized third-party gas sale by Konnect Gas to the Compressed Natural Gas (CNG) Stations since 2020. Earlier, caretaker Prime Minister Anwar ul Haq Kakar took notice on the complaint of Transparency International Pakistan (TIP) regarding unauthorised third-party gas sale by Konnect Gas (Private) Limited to the CNG stations and PM’s Office on 16th October, 2023 directed the Petroleum Division to furnish comments regarding TIP complaint at the earliest. However, despite passing
more than one-month time, the petroleum division did not submit its response to the PMO and the PMO has now sent a reminder to the division (Petroleum) in this regard. Following the PMO’s reminder, the Petroleum Division’s Director General Petroleum Concessions (DGPC) has moved to action and issued a notice dated 29th November, 2023 to the Chief Executive Officer (CEO), Spud Energy Pty Limited under Rule 68 (a) of Petroleum (Exploration and Production) Rules 1986 for illegal sale of natural gas by M/s Spud Energy Pty Ltd. from the Sara and Suri D&PLS to the unlicensed entity M/s Konnect Gas Pvt. Ltd (KGPL) and said that the response to the accusation regarding illegal sale of natural gas by SEPL as ‘unsatisfactory’ and once again instructed the company (SEPL) to immediately remedy the beach, pay all outstanding GoP (Government of Pakistan) statutory obligations without any further delay. “If M/s SEPL fails to remedy the breach within stipulated time, further action will be initiated against the company in accordance with applicable PCA/Rules,” said DGPC notice to CEO
of SEPL, a copy of which is available with Pakistan Today/Profit. According to DGPC notice to CEO SEPL, M/s SEPL has not discharged royalty, area rental, training fund & social welfare obligations. M/s SEPL vide its letter dated 21st November, 2023, failed to discharge any amount of royalty, and area rental, as well as any outstanding amount of social welfare obligations “M/s SEPL is avoiding to address the fulfillment of statutory obligations mentioned above, whereas company is obligated to pay all the GoP obligations. Moreover, M/s SEPL is required to carry out all operations in accordance with good oil industry practices and to obtain all necessary licenses/NOCs from relevant authorities, to have minimal impact on the environment, and to have due regard for safety and other factors. M/s SEPL is not addressing and operating in accordance with the principals of sound operations,” said DGPC notice to CEO SEPL, a copy of this notice was also forwarded to Chairman Oil and Gas Regulatory Authority (OGRA), Managing Director (MD) of Oil and Gas Development Company Limited (OGDCL) and others.
It is relevant to note here that Transparency International Pakistan (TIP), in a letter dated October 2, 2023, titled “Complaint on the Violation of Pakistan Petroleum (E&P) Rules 2001 and Natural Gas Regulatory (Licensing) Rules 2002 Due to Unauthorized Third-Party Gas Sale by Konnect Gas (Private) Limited, a subsidiary of Jura Corporation,” to Director General (DG) Petroleum Concession (PC), Ministry of Energy (Petroleum Division), requested to look into the allegations of the complaint and if found to be correct, take action against M/s Konnect Gas (Pvt.) Ltd for its illegal activities of providing unprocessed gas to CNG stations posing threat to the lives of citizens under applicable laws and rules. It is pertinent to mention that the country’s largest state-owned Exploration and Production (E&P) company, Oil & Gas Development Company Limited (OGDCL), which is listed on all three Stock Exchanges of Pakistan as well as on the London Stock Exchange, while having a joint venture with SEPL in Sara & Suri gas fields has so far maintained silence regarding the illegal sale of gas by an unlicensed entity, KGPL.
Pakistan to ‘probe' claims on Afghan minister using its passport ISLAMABAD
STAFF REPORT
PhC questions why PTi not being given level playing field PESHAWAR
STAFF REPORT
The Peshawar High Court on Thursday inquired from the KP Chief Secretary and the Election Commission why PTI rallies were being targeted, while other parties were allowed to hold meetings without restrictions. A two-judge bench of the Peshawar High Court made the observation during hearing of contempt of court proceedings regarding the alleged restriction on PTI rallies. As the proceedings began, Justice Ijaz Anwar expressed concern over the unequal treatment of political parties. He pointed out that a crackdown was initiated whenever PTI attempted to organize a meeting, while other parties faced no such hurdle. He questioned the rationale behind this disparity, asking if there was a specific ban on PTI’s political activities. In response, the KP Chief Secretary assured the court that equal opportunities would be provided to all parties. He explained that while PTI’s workers’ convention was allowed to proceed due to compliance with SOPs and placement, ANP and JUI were denied permission for failing to adhere to the guidelines. Justice SM Atiq Shah noted that without the court’s intervention, the permission for rallies was often denied. Justice Anwar further questioned the Election Commission, asking if their sole responsibility was conducting elections. He expressed concern that despite reports of targeted actions against a specific party, the district officers remained silent. The court also noted the appointment of caretaker ministers who were now actively participating in the elections, raising concerns about potential bias. The Election Commission lawyer assured the court that they would take action against any violation of the law, including those involving the caretaker ministers. Justice Anwar emphasized the importance of ensuring a level playing field for all parties, urging both the Chief Secretary and the Election Commission to address any requests for rallies with this principle in mind. He stressed that the concerns raised in national and international media regarding unequal treatment needed to be addressed by the Election Commission. Following the assurances of the Chief Secretary regarding providing a level playing field, the court disposed of the contempt petition.
Pakistan said it will first ascertain facts before issuing a comment on a report that claims that Afghanistan’s acting Interior Minister Sirajuddin Haqqani possessed a Pakistani passport until recently. In her weekly press briefing, Foreign Office (FO) spokesperson Mumtaz Zahra Baloch said: "I have seen the report on the use of a Pakistani passport by the Afghan minister. The matter will be answered after [ascertaining] the facts." A report published in The News today revealed that Haqqani was issued a Pakistani passport for five years which he used to travel abroad, particularly to Qatar for negotiations with the United States for the signing of the Doha Agreement that resulted in the latter's exit from Afghanistan. The publication, via the interior ministry officials, learnt that these passports were issued from different cities of Khyber Pakhtunkhwa, Balochistan, and Sindh. Meanwhile, two passport officials involved in issuing Haqqani's
passport have been arrested, one of whom had retired from service by the time the action was initiated against him. The issue around the minister using the Pakistani passport comes at a time when Pakistan continues to repatriate illegal foreigners, most of whom are undocumented Afghan migrants. Baloch also briefed the presser about top officials from the United States visiting Pakistan this week. "The focus of these visits is not only Afghanistan. These visits are related to the multifaceted aspects of Pakistan-US relations," she said, adding that Pakistan has decided to talk to America.
Pakistan and the US will conduct consultations over several issues including the situation in Afghanistan, the FO said last week. In the meetings between Pakistan and US officials, reservations of both sides will be discussed. "We will also discuss the issues on which we have objections." UPDATED LIST OF AFGHANS FROM US: The spokesperson further shared that Pakistan has received an updated list from the American authorities regarding the transfer of Afghan nationals to the US. Last month, a coalition comprising former high-ranking United States (US) officials and resettlement organisations issued an urgent appeal to Pakistan, urging it to not deport Afghan individuals applying to seek refuge in and visas for the US. The appeal came weeks after Pakistan announced November 1 as the deadline for all undocumented migrants — a substantial number of whom are Afghans — residing in the country to either leave on their own or face expulsion once the ultimatum ends.
LHC hears ex-PTI chairman’s plea against disqualification today LAHORE
STAFF REPORT
Former chairman and founder of Pakistan Tehreek-eInsaf (PTI) Imran Khan on Thursday challenged in Lahore High Court (LHC) his five years disqualification by the Election Commission of Pakistan (ECP) in the Toshakhana case. Single judge bench comprising Justice Shujaat Ali Khan will take up the plea of the former premier for hearing on Friday (tomorrow). The fresh petition was filed by PTI Chairman Gohar Ali Khan and Ali Zafar on behalf of Imran Khan. The ECP has been named as a respondent in the petition. It urged the court to declare the electoral watchdog’s notification disqualifying Imran “unlawful, illegal and unconstitutional”. The petition also urged the LHC to suspend the ECP’s notification till the final disposal of the case. “In the meanwhile, this court may kindly be pleased to suspend the operation of impugned notification dated August 8, 2023, till final disposal of the titled petition,” it said.
The petition also added that the court may grant “any other relief as deemed just and appropriate” in favour of the petitioner. The plea said the ECP took illegal action in haste to disqualify Imran from contesting the next general elections, adding that the allegations levelled against the petitioner were baseless. The petitioner claims that he desires to participate in next general elections for which the date has already been notified [by the ECP] on orders of the Supreme Court. Back in August, the ECP had, through a notification, cited an Islamabad trial court’s order and disqualified the former PTI chairman under Article 63(1)(h) of the Constitution read with Section 232 of the Elections Act, 2017. A day earlier, the trial court had, while hearing ECP’s complaint against the PTI chairman, sentenced him to three years imprisonment and imposed a fine of Rs0.1 million for concealing details of Toshakhana gifts. The trial court had found the former PTI chief guilty of “corrupt practices by hiding the benefits he accrued from the national exchequer willfully and intentionally”.
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PhC restrains authorities from arresting PTi’s asad qaiser PESHAWAR
STAFF REPORT
Peshawar High Court (PHC) has barred authorities from arresting Pakistan Tehreek-e-Insaf (PTI) leader and former speaker National Assembly Asad Qaiser in already registered cases. As per details, the advocate general asked the court to allot some time for preparation of a response to the court. Justice Ishtiaq Ibrahim said that the advocate general’s response will be heard on the next hearing however the PTI leader should not be arrested in any case that is already registered against him. Furthermore, the court will appoint a special legal assistant in this case, at this the case was adjourned till December 12.
lhC seeks reply on PTi’s plea for deployment of judicial officers in polls LAHORE
STAFF REPORT
The Lahore High Court (LHC) on Thursday sought a response from the federal government and the ECP on a plea filed PTI seeking deployment of judicial officers for polling duty in the upcoming general elections. Justice Ali Baqir Najfi heard the plea of PTI leader Barrister Umair Niazi. In the initial hearing, the federal government’s counsel opposed the plea stating that the ECP cannot be dictated. The LHC bench asked can a high court issue such directions to the Election Commission of Pakistan (ECP)? Later, the hearing was adjourned after issuing notices to the federal government and the ECP to respond to the matter. In a separate development on Thursday, Chief Election Commissioner (CEC) Sikander Sultan Raja said that general elections would be held on February 8, 2024 – the date announced earlier for the democratic exercise. In a message on National Voters Day, Raja said the Election Commission of Pakistan (ECP) was cognizant of the constitutional and legal responsibilities, adding that they were ready to organising free, fair and peaceful polls in the country. “I assure you that complete protection would be provided to you during the election so that you can exercise your right to vote with full secrecy and transparency,” he said and added that it was not only their right but also a duty.
eCP to shortly announce schedule for elections on Feb 8: CeC ISLAMABAD
STAFF REPORT
Chief Election Commissioner (CEC) Sikandar Sultan Raja said on Thursday that the Election Commission of Pakistan (ECP) is set to shortly announce the election schedule, with polling scheduled for February 8, 2024. In his message for National Voters Day, the Chief Election Commissioner informed that the final electoral rolls’ printing and delivery had concluded. The Election Commission would soon issue notifications for District Returning Officers, Returning Officers, and Assistant Officers in the coming days, he added. Sikandar Sultan Raja mentioned that the Election Commission was fully cognizant of all its constitutional and legal responsibilities. Emphasizing its full preparedness and commitment, the Election Commission (ECP) assures voters of complete security throughout the election process, ensuring the exercise of their voting rights with privacy and transparency in the upcoming elections. On National Voter’s Day, he urged the public to participate in shaping the nation’s bright future by exercising their right to vote, as stated by the CEC. Encouraging voters, he emphasized the importance of prioritizing their children’s future and advised against believing unfounded news and rumors concerning the elections. Encouraging public participation in the electoral process, the CEC emphasized it as both a right and a national duty. The Election Commission is presently devoted to preparing for the upcoming general elections.
IHC decides to hear Nawaz’s appeal against conviction in Al-Azizia reference on merit ISLAMABAD
STAFF REPORT
The Islamabad High Court (IHC) on Thursday decided to hear PML-N supremo Nawaz Sharif’s appeal against his conviction in the Al-Azizia reference on merit. This means that the court will be hearing the actual substance of the case which includes the charge, the defence, the weight of evidence, etc., as opposed to matters of procedure or jurisdiction. The decision was taken by a division bench comprising IHC Chief Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb. The same bench had acquitted the PMLN leader in the Avenfield reference on November 29. The Al-Azizia Steel Mills corruption reference pertains to a case in which he was sentenced to seven years in jail on Dec 24, 2018. He was also fined Rs1.5 billion and US$25 million. The reference pertains to the Sharifs being unable to justify the source of the funds provided to set up Al-Azizia Steel Mills and Hill Metal Establishment (HME)
in Saudi Arabia. The IHC had declared him a proclaimed offender in the case in December 2020. After leaving for London on medical grounds, Nawaz remained there for nearly four years and only returned to the country in October this year. Soon after his return, Nawaz had formally filed two separate applications seeking restoration of his appeals against the conviction in reference. In the application, the PML-N supreme leader had said that while he was abroad for medical treatment, the pending appeals were dismissed for non-prosecution. The application requested the court to revive the pending appeals to decide on these pleas on merit. The IHC had on Oct 24 revived Nawaz’s appeals in the two reference. THE HEARING: Ahead of the hearing today, Nawaz arrived at IHC along with senior PML-N leaders Ishaq Dar, Azam Nazeer Tarar and others. As the proceedings commenced, PMLN lawyer Amjad Pervaiz said his client’s appeal was against the Dec 2018 verdict in the Al-Azizia reference.
Justice Farooq inquired if the case was linked to the Panama Papers to which Pervaiz replied in the affirmative. The lawyer said three references were filed in the Panama cases: Al-Azizia, Avenfield and Flagship Investment references. “An accountability court had acquitted Nawaz in the Flagship reference,” he recalled, adding that the aforementioned three references were the outcome of one Supreme Court judgment. Elaborating Nawaz’s appeal, the lawyer contended that a single reference should have been filed against the PML-N leader as all the three references mentioned accusations of holding assets beyond means. In Al-Azizia reference, Pervaiz continued, there were a total of 22 witnesses of which 13 had recorded their testimonies. However, none of them were eyewitnesses, he highlighted. “In this case, only Wajid Zia and Mehboob Alam are lead witnesses,” the PML-N counsel added. Here, the IHC CJ inquired about the charges in the said reference. “Assets beyond means,” Pervaiz replied, pointing out that the Al-Azizia Steel Company Private Limited
was registered in Saudi Arabia in 2001. He went on to say that the Hill Metal Establishment was established in Jeddah in 2005-2006, which is owned by PML-N supremo’s son Hussain Nawaz. “It is a wellestablished fact that the Hill Metal Establishment was set up after selling Al-Azizia company,” he contended. At one point during the hearing, the NAB prosecutor brought up the video scandal surrounding former accountability judge Arshad Malik and asked the court to first look at petitions regarding that. To that, Justice Aurangzeb said it was up to the petitioner if he wanted to pursue the matter as pleas pertaining to the same were filed in the court. “We can set up a screen here and play the video,” he stated. But don’t forget this can also become a “double-edged sword”, the judge warned. However, the PML-N counsel said his client did not want to press the matter as the said judge had passed away. Pervaiz then read out loud the SC judgment in the Panama Papers case. “We have two options after the SC ver-
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
dict. First is that we call for evidence ourselves and decide the case on merit. Second is that we remand the reference back to the accountability court,” the IHC CJ said. Meanwhile, Justice Aurangzeb highlighted that if the case was sent back to the accountability court, Nawaz Sharif would be considered accused, not convicted. “Trial court will have to again decide on the case,” he added. The judge added that if the NAB’s attitude remained the same then the PML-N would not have any problem. Here, Azam Nazeer Tarar said: “There have already been a lot of injustices committed against Nawaz. We request that this court decide on Nawaz Sharif’s appeal on merit.” At one point, the NAB prosecutor requested the court to send the reference back to the accountability court. However, the IHC rejected the request and decided to hear the case on merit. Subsequently, the PML-N counsel began presenting arguments on the merit of the appeal. He said Hussain had sent an amount to Nawaz in 2017 via a banking channel four years after the Hill Mill Establishment was set up.