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PAKISTAN, IRAN RESOLVE TO EXPAND TIES IN POLITICAL, SECURITY DOMAINS In partnership with

Tuesday, 30 January, 2024 I 18 Rajab, 1445

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Rs 15.00 | Vol XIV No 212 I 8 Pages I Karachi Edition

CARETAKER PM REAFFIRMS PAKISTAN’S COMMITMENT TO FURTHER CONSOLIDATE BILATERAL TIES

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Pakistan, Iran agree to enhance military coordination amid tensions

ISLAMABAD

MIAN ABRAR

AKISTAN and Iran on Monday resolved to expand their cooperation especially in the political and security domains. The understanding came at meetings of Iranian Foreign Minister Hossein Amir-Abdollahian with caretaker prime minister Anwaarul Haq Kakar and Foreign Minister Jalil Abbas Jilani here in the federal capital.

Foreign Minister of Iran Hossein AmirAbdollahian called on Caretaker Prime Minister Anwaar-ul-Haq Kakar and discussed matters of mutual interest. Underscoring close relations between Pakistan and Iran, the prime minister reaffirmed Pakistan’s commitment to further consolidate bilateral ties.

He also emphasized the need to address common challenges through collaborative and cooperative approaches, rooted in the respect for international law and the principles of the United Nations Charter, in particular territorial integrity and sovereignty of both Pakistan and Iran.

The prime minister conveyed his warm sentiments for President Ebrahim Raisi and extended an invitation for him to visit Pakistan at his earliest convenience.

Later addressing a joint news conference, Foreign Minister Jalil Abbas Jilani said that the threat of terrorism poses a common challenge to both the countries. He said we have agreed to adopt collective and collaborative approaches to confront this menace with full leveraging the robust institutional mechanism that already exists between the two countries.

Jalil Abbas Jilani said respect for sovereignty and territorial integrity remains the fundamental principle of this cooperation.

He stated, “There is no doubt that the terrorists located in the common border regions and areas of Iran and Pakistan are led and supported by third countries and they never favour any good action in line with the benefits of the Iranian and Pakistani governments and nations.”

Abdollahian, at the beginning of his speech, underscored that Iran and Pakistan “never had territorial differences”. He pointed to their historical relations, describing them as representing a single nation located in two distinct geographical positions.

Acknowledging an invitation for Iranian President Ebrahim Raisi to visit Pakistan, the

SC orders FIA to withdraw summons issued to journalists

ISLAMABAD: The Supreme Court (SC) on Monday ordered the Federal Investigation Agency (FIA) to withdraw notices issued to journalists for criticism on the judiciary. Last week, the FIA issued summons notices to 65 individuals including 47 journalists from mainstream media and social media over a ‘malicious anti-judiciary campaign’. According to media reports, the orders were passed by a three-member bench of the Supreme Court, led by Chief Justice Qazi Faez Isa and comprising Justice Aminuddin Khan and Justice Musarrat Hilali. Office bearers from the Journalists Association of Supreme Court appeared in the hearing while Attorney General Mansoor Awan represented the government.

Justice Qazi Faez Isa remarked that the country is damaged if a mockery is made of the judiciary. However, he added that journalists should not be harassed or intimidated just because they criticized something. The chief justice also said that cases should not be filed against journalists for merely expressing right to free speech. The three-member SC bench ordered FIA to withdraw the notices served to the journalists. It is pertinent to mention here that the caretaker government constituted JIT to investigate a campaign reportedly launched against the judiciary following the Supreme Court’s (SC) verdict that upheld the Dec 22 decision of the Election Commission of Pakistan (ECP) depriving PTI of its iconic symbol — ‘bat’.STAFF REPORT

AMIR-ABDOLLAHIAN SAYS IRAN CONSIDERS PAKISTAN’S SECURITY AS ITS OWN

minister highlighted the mutual respect for each other’s sovereignty and territorial integrity. Abdollahian unequivocally stated that both countries would not provide any opportunity for terrorists to threaten their common security.

“We are here, so in a loud voice we will tell all terrorists that Iran and Pakistan will not provide them with any opportunity to endanger our common security,” he stated.

He disclosed that both sides agreed to prompt actions regarding border security, the necessity of combating terrorism, and the expansion of trade, commercial, and economic cooperation. The minister emphasized the joint commitment of Iran and Pakistan to take further

RAWALPINDI: In the aftermath of recent unprecedented missile exchanges and the tragic killing of nine Pakistani laborers in Iran’s Sistan-Baluchistan province, Pakistan and Iran announced on Monday their agreement to operationalise a mechanism deploying military liaison officers in each other’s country to bolster coordination and efficiency in responding to common threats.

The decision was reached during a meeting between Iran’s Foreign Minister, Hossein Amir Abdollahian, and Pakistan’s Chief of Army Staff (COAS), General Syed Asim Munir, at the General Headquarters (GHQ) in Rawalpindi, as stated by the military’s media wing, the Inter-Services Public Relations (ISPR).

The tensions erupted following Iran’s missile strikes on January 16, targeting alleged hideouts of Jaish-al-Adl, a militant group implicated in numerous attacks on Iranian security forces. Pakistan responded two days later, hitting what it claimed were terrorist bases of Baloch militant outfits. Iran later acknowledged that those killed in the Pakistani strikes were not Iranian nationals.

Diplomatic efforts have been swift to de-escalate the situation, with the ambas-

measures in these areas as soon as possible.

Islamabad’s top diplomat said the two sides have also agreed to “establish a highlevel constructive mechanism at the level of foreign ministers of the two countries”.

Elaborating further, Jilani said the mech-

Tempers boil as court proceedings disrupt in cypher case RAWALPINDI

sadors of both countries returning to their respective capitals in the week leading up to the Iranian foreign minister’s visit.

In today’s meeting, recognising the deep historical, religious, and cultural ties binding the two nations, both sides stressed the need to strengthen bilateral relations and foster a better understanding of each other’s concerns.

General Munir emphasised the importance of respecting each state’s sovereignty and territorial integrity, describing it as “sacrosanct, inviolable, and the most important cardinal of state-to-state relationships.”

According to the ISPR, the two countries acknowledged terrorism as a common threat requiring collaborative efforts, enhanced coordination, and intelligence sharing. General Munir highlighted the importance of sustained engagement and using available communication channels to address security concerns.

The decision to operationalise the deployment of military liaison officers in each other’s countries at an early date was part of the joint effort to improve coordination and response efficiency against shared threats. STAFF REPORT

anism will meet alternatively in both Iran and Pakistan “on a regular basis to oversee the progress that is being made in various areas of cooperation”.

FIA initiates probe against CEO DRAP Asim Rauf in ‘substandard’ syringe contract

CONTINUED ON PAGE 03

ISLAMABAD

SHAHZAD MALIK

STAFF REPORT

An unpleasant situation developed during the hearing of the US cypher case at Adiala Jail in Rawalpindi on Monday as the judge did not allow Imran Khan’s lawyers to cross examine the witnesses during the court proceedings on Monday.

Resultantly, former prime minister and PTI ex-chairman Imran Khan and PTI Vice-Chairman Shah Mehmood Qureshi lost their temper and started shouting, forcing the judge to take a breather. The atmosphere in the Official Secrets Act court was vitiated during the cross-examination of Azam Khan, former secretary to prime minister.

As the presiding judge lost control of the situation, he opted for a short break in the proceedings.

On Saturday too, both Imran and Qureshi flared up after they learnt that their lawyers had been replaced by state counsels.

During the last hearing, Special Court judge Abual Hasnat Mohammad Zulqarnain had decided to appoint state counsel for representing the two accused, as the defence lawyers again failed

to appear before the court.

The move triggered chaos in the court as both the accused reacted angrily, forcing the special court judge to issue warning to them.

It was Qureshi who first snatched the case file from the state defence counsel and threw it on the wall while also resorting to shouting. Similarly, Imran Khan used objectionable language against the judge during the hearing held at the Adiala jail.

According to the court decision, Malik Abdul Rehman and Hazrat Younus would represent Imran Khan and Qureshi respec-

tively as the state defence counsels and cross-examine the prosecution witnesses.

Earlier on Friday, Raja Rizwan Abbasi – the FIA prosecutor – had requested the special court established under the Official Secrets Act to withdraw the defence counsel’s right of crossexamination, saying the defence was applying delaying tactics to prolong the trial.

He said one of the witnesses had come from the UAE to attend the court proceedings, but the defence counsel did not bother to come to the court.

Federal Investigation Agency (FIA) has initiated probe against CEO DRAP Asim Rauf for awarding substandard syringes contract.

According to the case, Asim Rauf awarded contract to a company who imported substandard syringes which were found a major cause of spread of diseases in the people, a complainant filed with the FIA. Anti-corruption circle of the Federal Investigation Agency has formally started an investigation in this regard and the syringes contract that DRAP has given to the private company are non-standard that are spreading diseases and these syringes are substandard according to investigation.

FIA has issued a notice to the Collector of Customs for production of records and FIA also served notice to CEO DRAP Asim Rauf for investigation. In notice for record to Pakistan Customs, FIA asked for a copy of general declaration regarding import of non medical grade poly propylene fringes, 1-4 infusion set etc with NOC of the DRAP. FIA further asked in the notice that the data of import general declaration of non medical poly propylene syringes 1-4 infusion set of last 6 month of MS Unsia Private Limited and Albader Manufacturing Limited and data of similar types of permission of general general declaration of other companies.

FIA also seek record and copy of NOC from ministry of health, DRAP and other departments and detail of all other import items of such type of goods and any other related information regarding subjects matter.

On this matter, this reporter called couple of times to CEO DRAP Asim Rauf for point of view but he did not respond.

SBP maintains policy rate at 22%, citing high inflation

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SBP GOVERNOR SAYS REAL INTEREST RATE REMAINS ‘SIGNIFICANTLY’ POSITIVE ON A 12-MONTH FORWARDLOOKING BASIS, HINTING AT A POTENTIAL RATE CUT IN COMING MONTHS PROFIT

MARIAM UMAR FAROOQ

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) opted to maintain the policy rate at 22% during its meeting on Monday, January 29, 2024, citing persistently high inflation in the country.

The MPC also revised its projected inflation figures for fiscal year 2024 from 20-22% to 23-25%, owing to changes in energy prices.

The decision was in line with analysts’ expectations, despite the declining yields in the secondary market.

The central bank last raised the policy rate by 100 basis points to 22% in an emergency meeting in June 2023, ahead of an agreement with the International Monetary Fund (IMF). Subsequently, it held the rate

steady in meetings convened on July 31, September 14, October 30, December 12, and now in January 2024.

In the post-MPC meeting briefing with analysts, SBP Governor Jameel Ahmad said that the real interest rate remains significantly positive on a 12-month forwardlooking basis. According to a report by Topline Securities, the use of the word “significant” indicates the possibility of rate cuts in the coming months.

“The decision was more or less expected by market participants. Most participants expect a rate cut in the coming MPS in March as inflation is expected to decline majorly on base effect,” commented Yousuf Farooq, director of research at Chase Securities.

“It makes sense for the SBP to hold off policy rate at 22% as inflation is still close

to 30%, elections are up ahead, IMF third review has to be done and a new IMF program has to be negotiated. There are risks to the external funding outlook and inflation from commodity prices. Hence it makes sense for them to keep the policy rate at 22%”, remarked Mustafa Pasha, chief investment officer at Lakson Investments.

“After March’s MPS meeting, one can expect for there to be more leeway for the SBP to cut the rate, as there will be a new government in place, and a third tranche will have been received from the IMF,” added Pasha.

Inflation outlook Following the IMF agreement, the fund indicated the need for an appropriately tight monetary policy to bring down escalated prices. Inflation clocked in at 29.7% in De-

cember 2023, which was higher than expected due to a surge in energy prices. The figure for January is also likely to remain high around 27%.

The committee observed that while non-energy inflation continued to moderate, the frequent and sizable adjustments in administered energy prices have slowed down the pace of decline in inflation anticipated earlier. Owing to these changes in energy prices, the MPC has revised the projected inflation figure for fiscal year 2024 from 2022% to 23-25%.

In the medium term, the MPC estimates an inflation target of 5-7% by September 2025, revising it from the earlier target set for June 2025. The revised assessment takes into account the recent and expected adjustment in administered energy prices.

“Taking stock of these developments as well as still-elevated levels of both headline and core inflation, the committee emphasized continuing with the tight monetary policy stance. This, along with continued fiscal consolidation and timely realisation of planned external inflows, will help to achieve the inflation target of 5-7% by September 2025. The revised assessment takes into account the recent and expected adjustment in administered energy prices,” read the MPC statement.

However, the central bank has fallen short of its medium-term inflation expectations since 2020. Throughout most of the period from 2020 to 2023, the SBP anticipated a medium-term inflation of approximately 5-7%.

CONTINUED ON PAGE 03

02 NEWS

CHINA EVERGRANDE ORDERED TO LIQUIDATE IN LANDMARK MOMENT FOR CRISIS-HIT SECTOR

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Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group (3333.HK), opens new tab, dealing a fresh blow to confidence in the country’s fragile property market as policymakers step up efforts to contain a deepening crisis.

Justice Linda Chan decided to liquidate the world’s most indebted developer, with more than $300 billion of total liabilities, after noting Evergrande had been unable to offer a concrete restructuring plan more than two years after defaulting on its offshore debt and following several court hearings.

“It is time for the court to say enough is enough,” Chan said in court on Monday.

The decision sets the stage for what is expected to be a drawn-out and complicated process with potential political considerations as investors watch whether the Chinese courts will recognise Hong Kong’s ruling, given the many authorities involved. Offshore investors will be focused on how Chinese authorities treat foreign creditors when a company fails.

Chan appointed Alvarez & Marsal as the liquidator, saying an appointment would be

PSX closes in red zone as KSE-100 drops over 1000 points PROFIT

News Desk

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday mainly due to uncertainty over energy circular debt and monetary policy. According to the PSX website, the KSE-100 index closed in the red zone after dropping 1,039 points or 1.63% to settle at the 62,773 level. Market experts attribute the dip in the stocks to the circular debt in the energy sector and the interim government’s efforts about a settlement plan.

“Investors will keep a close watch on what the caretaker government can push through before elections, especially progress on circular debt settlement, which whipsawed OGDC and PPL last week. We remain positive on Pakistan equities, with room for significant gains if elections and a new IMF program are navigated smoothly,” said Intermarket Securities Limited. The State Bank of Pakistan’s Monetary Policy Committee (MPC) announced no change in policy rate. However, earlier today, Shahid Ali Habib, CEO, Arif Habib Limited clearly suggested: “Monetary policy committee should consider the projected inflation numbers for the next 12 months while deciding the policy rate today. Although December CPI recorded at 29.66% however the rate is sharply coming down to 19.84% for March and 17.47% for May YOY. This clearly indicates that the policy rate should come down by 4% from 22% to 18% by June this year and then 3% more to reach 15% by December.” The market experienced broadbased selling pressure in sectors with significant weight on the index, including cement, chemicals, commercial banks, oil and gas exploration companies, OMCs, power generation, and refinery sectors. OGDC and PPL, which heavily influence the index, also incurred losses due to uncertainty surrounding the resolution of the circular debt problem in the energy sector. Companies across major sectors on the KSE All Share Index displayed a mixed trend. In the automobile sector, Honda Atlas Cars’ share price rose by Rs 0.9, despite reporting a reduction in profits by 11% in their nine-month financial results.

Fauji Fertilizer Company’s share price decreased by Rs 1.2, a notable move for a major player in the fertilizer sector, following their announcement regarding corporate briefing details for the year ended December 31, 2023. International Steel Limited’s share price saw an increase of Rs 0.8 on the same day as they reported a profit after tax (PAT) of Rs 2,353 million in 6MFY24.

in the interests of all creditors because it could take charge of a new restructuring plan for Evergrande at a time when its chairman, Hui Ka Yan, is under investigation for suspected crimes.

Evergrande, which has $240 billion of assets, sent a struggling property sector into a tailspin and dealt a blow to the economy when it defaulted on its debt in 2021. The liquidation ruling creates further uncertainty for China’s already fragile capital and property markets.

Evergrande chief executive Siu Shawn told Chinese media the company will ensure home building projects will still be delivered despite the liquidation order. The ruling would not affect the operations of Evergrande’s onshore and offshore units, he added.

“Our priority is to see as much of the business as possible retained, restructured, and remain operational. We will pursue a structured approach to preserve and return value to the creditors and other stakeholders”, said Tiffany Wong, managing director of Alvarez & Marsal after the appointment.

Edward Middleton, also managing director with Alvarez & Marsal, said the firm would immediately head to Evergrande’s headquarters. “It is not an end but the beginning of the prolonged process of liquidation, which will make Evergrande’s daily opera-

tions even harder,” said Gary Ng, senior economist at Natixis. “As most of Evergrande’s assets are in mainland China, there are uncertainties about how the creditors can seize the assets and the repayment rank of offshore bondholders, and situation can be even worse for shareholders.”

Evergrande’s shares were trading down as much as 20% before the hearing. Trading was halted in China Evergrande and its listed subsidiaries China Evergrande New Energy Vehicle Group (0708.HK), opens new tab and Evergrande Property Services (6666.HK), opens new tab after the verdict.

COMPLICATED PROCESS Beijing is grappling with an underperforming economy, its worst property market in nine years and a stock market wallowing near five-year lows, so any fresh hit to investor confidence could further undermine policymakers’ efforts to rejuvenate growth.

China’s property sales, investment and funds raised by property developers slid further in 2023 - the second biggest fall after 2022 in more than a decade.

China’s property sales, investment and funds raised by property developers slid further in 2023 – the second biggest fall after 2022 in more than a decade.

An Evergrande sign is seen near residen-

tial buildings at an Evergrande residential complex in Beijing Evergrande applied for another adjournment on Monday as its lawyer said it had made “some progress” on the restructuring proposal. As part of the latest offer, the developer proposed creditors swap their debts into all the shares the company holds in its two Hong Kong units, compared to stakes of about 30% in the subsidiaries ahead of the last hearing in December.

Evergrande’s lawyer argued liquidation could harm the operations of the company, and its property management and electric vehicle units, which would in turn hurt the group’s ability to repay all creditors.

Evergrande had been working on a $23 billion debt revamp plan with a group of creditors known as the ad hoc bondholder group for almost two years.

A court document on Monday showed Evergrande’s key offshore assets also include an unsecured interest-free loan of HK$2.1 billion ($268.78 million) to a previous unit, China Ruyi (0136.HK), opens new tab, positions in the Greater Bay Area Homeland Investment and its fund with a total book value of HK$1.6 billion, bank balances of HK$3 million and receivables of 131.2 billion yuan ($18.28 billion) owed by its subsidiaries.

SBP levies substantial fines on ten banks for regulatory violations g

SBP HAS DIRECTED ALL IMPLICATED BANKS TO PROMPTLY ADDRESS THE IDENTIFIED ISSUES AND CONDUCT INTERNAL INQUIRIES REGARDING REGULATORY VIOLATIONS PROFIT

News Desk

The State Bank of Pakistan (SBP) has taken stringent action against ten banks, imposing significant fines totaling Rs465.081 million for violations of its rules and regulations, as per a document released by SBP’s Banking Supervision Department.

The penalties were assigned for various infractions, including non-compliance with Know Your Customer (KYC) norms, Anti-Money Laundering (AML) regulations, lapses in asset quality, foreign exchange transactions, and general banking operations standards.

United Bank Limited (UBL) was fined Rs114.193 million for breaching regulatory instructions concerning Customer Due Diligence (CDD)/KYC, Asset Quality, Foreign Exchange, and General Banking Operations. SBP has urged UBL to implement necessary systems and controls to prevent future violations.

Habib Bank Limited (HBL) incurred a penalty of Rs113.367 million

for violations in AML/CFT, CDD/KYC, Foreign Exchange, and General Banking Operations. The central bank has directed HBL to take immediate measures to avoid future breaches.

Standard Chartered Bank Pakistan Limited (SCBPL) faced a fine of Rs58.375 million for non-compliance in CDD/KYC, Foreign Exchange, and General Banking Operations. SBP has emphasized the need for SCBPL to enhance internal processes and controls to prevent similar instances.

Meezan Bank Limited (MEBL) received a penalty of Rs44.705 million for violations in CDD/KYC, Foreign Exchange, and General Banking Operations. SBP has advised meticulous compliance with regulatory instructions to avert future violations.

Askari Bank Limited (AKBL) was fined Rs36.4054 million for violations related to CDD/KYC, with SBP stressing the significance of meticulous compliance to prevent future occurrences.

JS Bank Limited (JSBL) incurred a fine of Rs27.009 million for violations in CDD/KYC and General Banking

Operations. SBP directed JSBL to enhance its systems and controls to prevent the recurrence of such violations.

MCB Bank Limited (MCB) faced a penalty of Rs23.554 million for breaches in CDD/KYC, Foreign Exchange, and General Banking Operations. The bank has been instructed to improve its processes to avoid future violations.

Dubai Islamic Bank Limited received a fine of Rs22.1 million for violations in CDD/KYC, with SBP advising strict compliance with regulatory instructions to prevent future instances.

The last two banks to face penalties were Mobilink Microfinance Bank Limited and Bank Alfalah Limited, receiving fines of Rs14.643 million and Rs10.73 million, respectively, for violations in CDD/KYC and General Banking Operations.

SBP has directed all implicated banks to promptly address the identified issues and conduct internal inquiries regarding regulatory violations in Branchless Banking, taking necessary corrective actions.

Cotton prices soar 27% in one month amidst supply constraints PROFIT

News Desk

Cotton prices experienced a notable 27 percent increase in the past month, reaching a season-high of Rs19,700 per maund (40 kg), as reported by the Karachi Cotton Association (KCA).

The spot rate for cotton has risen from Rs15,500 a month ago.

As of December 23, cotton prices in Sindh ranged from Rs15,500 to Rs17,800 per maund, while in Punjab, they varied from Rs16,500 to Rs17,000 per maund, reflecting an increase of approximately Rs4,000 per maund.

Currently, prices stand at Rs18,500 to Rs21,000 per maund in Sindh and Rs19,000 to Rs21,000 per maund in Punjab, with spot rates at Rs19,700 per maund.

The surge is attributed to a reduc-

tion in the supply of quality cotton in the local market, primarily due to significant textile groups stockpiling quality cotton. The rise in New York cotton futures prices, reaching around 86.50 to 87 cents per pound, made import deals less lucrative, contributing to the rapid increase in local cotton prices.

Textile mills’ acquisition spree, especially in the past week, has further driven up cotton prices by Rs3,000 to Rs4,000 per maund.

Naseem Usman, chairman of the Karachi Cotton Brokers Association, notes expectations for increased cotton sowing in lower Sindh regions and early farming in various Punjab regions, contributing to an optimistic outlook for cotton production.

Despite an estimated cotton production of 8.4 million bales this season, textile mills may face a shortfall, requiring

imports to meet the demand of around 13 million bales. The reopening of the Afghan border and potential reopening of the Chaman border provide hope for increased imports. The Sindh government’s proactive efforts to modernize Karachi’s garment city aim to invigorate the textile industry. The industrial estate, spanning over 300 acres, focuses on value-added textile production, with plans for industrial units and water treatment plants to ensure favorable environmental conditions.

Addressing concerns over declining domestic production, director general of Agriculture Sindh, Munir Ahmed Jumani, stressed the importance of cotton as the backbone of the country’s industrial sector. Continuous challenges such as adverse weather conditions, water scarcity, and pest attacks have negatively impacted cotton yields.

SNGPL opposes allocating 50% of gas discoveries to third parties, stresses ‘level playing field’ g

COMPANY EXPRESSES CONCERNS THAT HALF SHARE TO THIRD PARTIES MAY LEAD TO MARKET ARBITRAGE AND IMPERFECTIONS PROFIT

News Desk

The Sui Northern Gas Pipeline Company Limited (SNGPL) has voiced opposition to the proposed allocation of 50% indigenous gas from new discoveries to politically influential third-party entities.

The proposed amendments to the Petroleum (Exploration and Production) Policy 2012 are set to be presented before the Council of Common Interests (CCI) today.

SNGPL contends that it did not receive prior consultation on the summary for CCI, emphasizing the potentially wideranging implications on the energy supply chain and vital sectors such as export, fertilizer, and domestic consumption.

The gas utility company suggests that comprehensive consultations and a thor-

ough impact assessment are necessary before presenting the proposal to the CCI. In preliminary comments submitted on the summary, SNGPL highlights several concerns. These include pending payments to exploration and production (E&P) companies due to the prevailing circular debt situation, delays in increasing sale prices by successive governments, and the diversion of expensive Re-Gasified Liquefied Natural Gas (RLNG) to low-tariff domestic sectors.

SNGPL underscores the importance of a holistic evaluation, stating that changes in gas allocation could affect various economic sectors, with gas serving as a lifeline for many. The company expresses concerns that allocating 50% of indigenous supplies to third parties may lead to market arbitrage and imperfections, potentially impacting

sectors paying full RLNG prices.

Moreover, the gas utility company warns of potential repercussions, including a ballooning circular debt, low recovery of RLNG tariff, potential collapse of the RLNG supply chain, and adverse impacts on gas companies and the public at large.

SNGPL also suggests a potential increase in sale prices for domestic and subsidized sectors, leading to public outcry

and compromised export sectors.

SNGPL proposes a roadmap for the opening up of the E&P sector, emphasizing the need for a level playing field, competitive pricing, and the elimination of cross-subsidies.

The company also calls for early implementation of country-wide Weighted Average Cost of Gas (WACOG) to address market anomalies.

Tuesday, 30 January, 2024 | KARACHI

Evergrande could appeal the liquidation order, but the liquidation process would proceed pending the outcome of the appeal.

“We’re not surprised by the outcome and it’s a product of the company failing to engage with the ad hoc group,” said Fergus Saurin, a Kirkland & Ellis partner who had advised the offshore bondholders. “There has been a history of last minute engagement which has gone nowhere. And in the circumstances, the company only has itself to blame for being wound up.”

Evergrande cited a Deloitte analysis during a Hong Kong court hearing in July that estimated a recovery rate of 3.4% if the developer were liquidated. After Evergrande said in September its flagship unit and its chairman Hui Ka Yan were being investigated by the authorities for unspecified crimes, creditors now expect a recovery rate of less than 3%.

Evergrande’s dollar bonds were bid at around 1-1.5 cents on the dollar last week.

The ruling is expected to have little impact on the company’s operations including home construction projects in the near term, as it could take months or years for the offshore liquidator appointed by the creditors to take control of subsidiaries across mainland China – a different jurisdiction from Hong Kong.

The liquidation petition was first filed in June 2022 by Top Shine, an investor in Evergrande unit Fangchebao which said the developer had failed to honour an agreement to repurchase shares it had bought in the subsidiary. Before Monday, at least three Chinese developers have been ordered by a Hong Kong court to liquidate since the current debt crisis unfolded in mid-2021.

Pakistan eyes $5b IT exports with smartphone production: Umar Saif PROFIT

News Desk

The Caretaker Federal Minister for IT and Telecom, Dr Umar Saif announced an ambitious target of achieving $5 billion in IT exports within the next five years, drawing a comparison to India’s annual export of mobile phones worth $10 billion. He said that efforts are underway to boost the export of smartphones manufactured in Pakistan, with a notable 32% increase in IT exports over the last two months. Dr Umar Saif emphasized the significance of the telecom sector for Pakistan’s economic development during the Pakistan Mobile Summit in Islamabad. He highlighted that Pakistan holds the seventhlargest telecom market globally and has provided tax incentives to the local mobile phone industry. Speaking at the event, Dr Saif mentioned that licenses have been granted to 35 companies engaged in assembling smartphones for various brands. He revealed plans to formulate a policy to manufacture complete mobile phones, with an initial emphasis on producing some parts locally.

Over the past two years, around 90 million mobile phones have been assembled in Pakistan, with exports reaching approximately two and a half million mobile phones valued at $1.5 million, said the IT minister. Addressing the summit, Pakistan Telecommunication Authority (PTA) Chairman Major General (retd) Hafeezur Rehman assured full support to the telecom industry. He expressed the PTA’s readiness to discuss any policies that might impede industry development, highlighting ongoing efforts to support the export of mobile phones manufactured in Pakistan.

Iran extends IP gas line project deadline by 180 days, warns of int’l arbitration PROFIT

News Desk

Iran has granted a 180-day extension to the deadline for the long-pending Iran-Pakistan (IP) gas line project, pushing the timeline to September 2024. Government officials have conveyed that if Islamabad does not respond positively, Tehran will seek international arbitration in Paris, aiming for a penalty of $18 billion. To avert arbitration, Iran has proposed sending a joint legal and technical team to Pakistan within the extended deadline to collaboratively formulate a mutually beneficial strategy for the project’s realization. Initially scheduled for talks on January 21-24, the Iranian technical and legal experts’ team faced delays due to heightened tensions between the two nations. The officials now reveal that the team is expected to arrive in Islamabad in the second week of February. The teams from both sides will establish coordination committees to devise an implementable strategy for the IP gas line project. The Iranian delegation comprises experts in international relations laws, legal frameworks, and engineering. The project, facing delays since 2014, Pakistan received the last notice almost 25 days ago. In November-December 2022, Iran issued its second notice, demanding Pakistan to construct a portion of the gas line project in its territory by February-March 2024 or face an $18 billion penalty. In February 2019, Tehran had previously warned Islamabad of moving to arbitration for not meeting the project’s stipulated timeline. Signed in 2009 for a 25-year duration under French law, the Gas Sales Purchase Agreement (GSPA) has faced challenges in materializing. Pakistan argues its inability to proceed with the project within its territory due to US sanctions on Iran, a stance contested by Iranian authorities who deem the US sanctions unjustified.

NEWS 03

MOF OPPOSES DELISTING ALL DISCOS, CALLING FOR SELECTIVE CONCESSION MODEL

Tuesday, 30 January, 2024 | KARACHI

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MINISTRY OF PRIVATISATION HAS OPPOSED THE POWER DIVISION'S PROPOSAL, CITING DIFFERENT ARGUMENTS PROFIT

MoNitoriNg Desk

HE Ministry of Finance (MoF) has voiced its opposition to the delisting of all power Distribution Companies (Discos) from the privatisation programme, suggesting that only those companies be delisted that are selected for the concession model, as reported by Business Recorder.

The Power Division has put forward a new proposal for the fate of Discos to the Cabinet Committee on Energy (CCoE), following the withdrawal of the plan to hand them over to provinces.

In its comments, the MoF stated that it has no objections to the proposal in principle, considering the lack of success in either privatisation or provincialisation of Discos.

However, the MoF highlighted several

Pakistan Refinery announces shutdown for 38 days PROFIT

points to be considered. Firstly, it pointed out that while a comprehensive legal framework for privatisation exists, it is unclear what framework would be adopted for the proposed concessions model.

It also noted that the current proposal resembles a Public-Private Partnership (PPP) model, but does not mention the PPPA Act 2017 or any consultation with the PPPA. Lastly, the MoF suggested that instead of delisting all Discos, only those selected for the concession model should be delisted, while the remaining entities could continue on the privatisation list, with efforts made for their divestment through other means.

On the other hand, the Ministry of Privatisation has opposed the Power Division’s proposal, citing different arguments.

The Privatisation Ministry has examined the summary and commented that the privatisation process for Discos could not ma-

terialise, partly due to the proposal for provincialisation and the initiation of a summary for the CCI by the Power Division.

The Privatisation Ministry/Commission has also highlighted that offering Discos through a concessions model falls outside the mandate of the CCoE, as stated in the Cabinet Division’s notification.

The Privatisation Ministry expressed its view that private sector participation in Discos through long-term concession agreements should be carried out with divestment. They argued against the idea of handing over public sector assets to a private party without the government having any stake in it, as it could create perverse incentives for the concessionaire.

The Ministry suggested that the private party should have a built-in stake, even if small initially, which can be increased over time to ensure their commitment to improving the bottom line.

Although the Privatisation Ministry did support the proposal of selecting one betterperforming and one worse-performing Disco, they requested the Power Division to provide

Navigating Healthcare Challenges in Pakistan: A call for reform

News Desk

Pakistan Refinery Limited (PRL) on Monday announced to carry out maintenance and inspection turnaround starting from January 30, 2024, for approximately 35 to 38 days.

According to a notice sent to the Pakistan Stock Exchange (PSX), the refinery will remain shut down during this period.

Established in May 1960, Pakistan Refinery Limited operates as a public limited company, specialising in the production and sale of petroleum products. It operates as a subsidiary of Pakistan State Oil Company (PSO). PRL maintains an effective preventive maintenance system to ensure the identification and availability of required resources. Moreover, one of PRL’s most crucial objectives as part of its strategic planning is to ensure uninterrupted refinery operations. To achieve this goal, PRL continuously develops preventive maintenance plans aimed at maintaining uninterrupted operations of the refinery. Additionally, the company has established agreements with other oil marketing companies and crude oil suppliers to ensure a smooth supply chain at both ends.

CCI approves amendments in petroleum policy to encourage oil, gas exploration ISLAMABAD APP

Council of Common Interests (CCI) Monday here approved amendments proposed by the Petroleum Division in the Petroleum Policy 2012 for encouraging exploration of new reserves of oil and gas. Caretaker Prime Minister Anwaar-ul-Haq Kakar was chairing the 51st meeting of the CCI. On the recommendation of the Petroleum Division, the CCI approved that the old and new licences and leases of petroleum exploration and production companies could be used for exploration of reserves of oil and gas. This decision of the council would encourage the companies in exploration of new reservoirs of gas. Under the amendment in the petroleum policy, the gas exploration companies would be allowed to work with their present licences in search of oil and gas reserves. The meeting was told that 85 percent of the crude oil and 75 percent of the gas used in the country was imported with precious foreign exchange reserves, which was a burden on the national exchequer. The present oil and gas reserves were depleting fast. The CCI also approved the recommendation of Petroleum Division to give better wellhead price to the oil and gas companies in the 1(F) petroleum zone. The exploration of oil and gas reserves in the 1(F) zone was a difficult and expensive process due to difficult terrain and lack of facilities in the southern border areas of Khyber Pakhtunkhwa and Balochistan.

a prioritised list of Discos based on performance in order to make an informed decision.

The Ministry of Privatisation has also voiced its opposition, highlighting the need for divestment and a built-in stake for private parties participating in Discos.

P

MUHAMMAD TAIMOOR MAJID

AKISTAN, a country with a rich cultural tapestry and a history shaped by various influences, faces considerable challenges in its healthcare sector. Despite commendable efforts, several factors contribute to the complexities that hinder the delivery of effective and accessible healthcare to all citizens.

One of the fundamental issues is the inadequacy of healthcare infrastructure and resources. Insufficient hospitals, clinics, and trained medical personnel in some regions create barriers to healthcare access, particularly in rural areas.

This disparity exacerbates health inequalities, leaving a significant portion of the population underserved. Pakistan grapples with a high burden of communicable and non-communicable dis-

eases. While infectious diseases pose persistent threats, the rise of non-communicable diseases like diabetes and cardiovascular conditions requires a shift towards preventive healthcare. Unfortunately, there is a notable lack of emphasis on preventive measures, education, and public health awareness.

Affordability remains a key challenge for many Pakistanis seeking healthcare. High out-of-pocket expenses, coupled with limited health insurance coverage, make quality medical services a luxury for some. This financial burden can deter individuals from seeking timely medical attention, exacerbating health conditions and contributing to a cycle of poverty. Maternal and child health outcomes in Pakistan highlight significant concerns. Maternal mortality rates remain relatively high, and there is a need for improved access to prenatal and postnatal care. Malnutri-

tion among children is another critical issue that requires focused interventions and nutritional education.

While the healthcare sector is evolving globally with technological advancements, Pakistan is at the cusp of embracing these changes. The integration of technology, including telemedicine, can bridge gaps in access, allowing remote areas to benefit from medical expertise. However, this transition requires concerted efforts in infrastructure development and digital literacy. Efficient governance and robust healthcare policies are pivotal for meaningful reform. Continuous efforts to curb corruption, allocate resources effectively, and implement evidencebased policies are crucial for improving healthcare delivery. Transparent governance can inspire confidence and encourage collaboration between the public and private sectors.

Promoting health literacy and community engagement is vital for transforming healthcare in Pakistan. Empowering individuals with knowledge about preventive measures, early detection, and healthy lifestyles can contribute significantly to overall well-being.

In conclusion, addressing the healthcare challenges in Pakistan demands a multifaceted approach. Sustainable reforms should encompass infrastructure development, preventive healthcare strategies, financial inclusivity, technological integration, and robust governance. As Pakistan navigates these challenges, there exists an opportunity for stakeholders to collaborate in building a healthcare system that is equitable, accessible, and responsive to the diverse needs of its population.

International Steels approves Rs1 bn solar power project PROFIT

News Desk

International Steels Limited’s board of directors approved undertaking a 6.4 MW solar power project at its Karachi factory which is expected to be completed in Q1 FY25.

The company said, in a notice to the Pakistan Stock Exchange (PSX), that the solar energy initiative, costing Rs 1 billion, plays a critical role in cost savings and reinforces its commitment to sustainable environmental practices.

In another notice, International Steels said that its profit after tax (PAT) increased to Rs 2,353 million in the first half of the FY24, compared to just Rs 61 million in the corresponding period last year.

The company’s revenue increased by 17% in 6MFY24, gross profit by 79%, and other income by 143% compared to the same period last year. The primary reason for increased profitability in FY24 is the reduction in finance costs.

During FY2022-23, the company generated a cash flow of Rs 22.3 billion

g

COMPANY’S SALES AND PROFITS EXCEED RS 39.7 BILLION AND RS 2.4 BILLION IN 6MFY24 RESPECTIVELY

Sixth Months Ended All Values in Rupees Million.............31-Dec-22................ 31-Dec-23 Percentage Changes Revenue...........................................33,926 M.................. 39,739 M......17% Cost of sales.................................... -30,951 M................. -34,426 M.... 11% Gross profit...................................... 2,975 M.................... 5,313 M........79% Selling and distribution expenses.... -148 M...................... -947 M......... 538% Administrative expenses.................. -153 M...................... -236 M......... 54% ........................................................ -301 M...................... -1,183 M......

Finance cost.....................................-1,652 M................... -371 M......... -78% Other operating charges.................. -1,116 M................... -399 M......... -64% ........................................................ -2,767 M................... -770 M.........

Other income................................... 62 M......................... 150 M...........143% Profit / Loss before taxation............. -32 M........................ 3,511 M........-11241% Taxation............................................92 M......................... -1,159 M...... -1354% Profit / Loss After taxation............ 61 M......................... 2,353 M........3765%

from operational activities and successfully lowered its overall long and shortterm borrowings by Rs 16.8 billion in the same period.

The company’s board recommended an interim cash dividend of Rs 2.50 per share, providing a return of

25% to shareholders.

Profit before taxation improved from a loss of Rs -32 million to a profit of Rs 3,511 million, showcasing an extraordinary turnaround in the company’s operational performance in the first half of the current financial year.

Pakistan, Iran resolve to expand ties in political, security domains CONTINUED FROM PAGE 01

He further said that both Islamabad and Tehran have agreed to “cooperate to fight terrorism in our respective areas”. “We have agreed to station liaison officers of which an agreement was already in place at the earliest date,” said the foreign minister, adding that they would be stationed in Turbat and Zahedan.

Appreciating his Iranian counterpart’s visit at “such short notice”, Jilani said it testifies to the deep commitment both sides have to solidify ties with each other. Close ties between Pakistan and Iran were “not only beneficial for development but an important source of stability for the people”.

“Respect for sovereignty and integrity remains the foundational step for cooperation,” stressed FM Jilani and added that Is-

lamabad and Tehran have also agreed upon “adopting collaborative approaches to confront this menace to leverage the robust institutional mechanism”.

Sharing important outcomes of the meeting with the Iranian counterpart, Jalil Abbas Jilani said we have agreed to establish a high level consultative mechanism at the level of the foreign ministers which will meet alternatively in both Iran and Pakistan on regular basis to oversee the progress that is being made in various areas of our cooperation.

The Foreign Minister said there was an agreement to cooperate to fight terrorism in our respected areas. We need to address and allay each other’s concerns with regard to terrorism and in this connection, the two sides have agreed to station the liaison officers at the earliest date. These liaison officers, he said, will be deployed in Turbat

and Zahedan. The Foreign Minister said both the sides have agreed to prioritize economic uplift and development of our border areas. He said it has been agreed to fast track operationalization of five remaining border markets.

Jalil Abbas Jilani said the two sides recognized that close relationship between our two countries is not only imperative for shared prosperity and development of our peoples but also an important source of stability for the region. He said this bilateral relationship is underpinned by strong bonds of amity and brotherhood.

In his remarks, the Iranian Foreign Minister said both the countries enjoy great cultural, geographical and historic commonalities. He said given the history of these relations, there have never been any territorial differences or border problems. He said this is a manifestation of our good bilat-

eral relations. He said they in fact are a single nation located in two different geographical positions. The Iranian Foreign Minister said his country considers Pakistan’s security as the security of Iran and the whole region.

The Iranian Foreign Minister said both the countries strongly respect the sovereignty and territorial integrity of each other. He categorically stated that through joint cooperation, the two countries will not allow the terrorists to endanger our common security.

The Iranian Foreign Minister said we have agreed that our borders will be translated into borders of trade, development and progress. Hossein Amir-Abdollahian said the two sides have also agreed to expand pilgrimage tourism and finalize projects on energy cooperation. The Iranian Foreign Minister also appreciated Pakistan’s stance in support of Palestinian people.

The final decision will rest with the Cabinet Committee on Privatisation (CCoP), and the proposals will be presented for consideration in accordance with the Privatisation Commission Ordinance 2000 and relevant notifications from the Cabinet Division.

SBP unveils plans for new currency notes with enhanced security features PROFIT

MoNitoriNg Desk

The State Bank of Pakistan (SBP) has officially announced its intention to issue new currency notes equipped with advanced international security features. Addressing concerns, the central bank’s governor assured the public that the transition would be smooth and devoid of disruptions, as reported by Geo News. The upcoming banknotes will showcase novel serial numbers, designs, and heightened security measures aimed at combating the circulation of counterfeit currency. The governor disclosed that the design framework is currently underway, with expectations of finalization by March.

Significantly, the governor clarified that Pakistan’s approach to this currency update differs from India’s 2016 demonetization, which led to substantial social unrest and a temporary dip in GDP. Unlike India, Pakistan plans to implement the currency update without causing disruptions to daily transactions. Insiders familiar with the matter revealed that the move is in response to increasing complaints about the prevalence of counterfeit currency. Khurram Schehzad, CEO of Alpha Beta Core financial advisory firm, sees the introduction of new security features as a positive development, cautioning against premature assessments.

Schehzad dispelled the notion that the introduction of new notes alone could effectively address the issue of black money.

He stressed the need for additional measures to control or reduce the circulation of higher denomination currency notes. Assessing the cash hoarded by the public is crucial, as individuals often convert cash into assets like property, cars, gold, or foreign currencies during periods of heightened inflation.

Regarding the potential discontinuation of higher denomination currency notes, such as the Rs5,000 note, Schehzad noted that past demonetization efforts in India and other countries have not always been successful.

He emphasized the need for the SBP to carefully consider whether to discontinue higher denomination notes or simply introduce new ones. Addressing concerns about the impact on the economy, Schehzad highlighted the importance of the SBP managing the printing of currency notes to curb the driving factor behind rising inflation.

The central bank’s strategy for maintaining economic stability will be closely scrutinized as the currency update progresses.

Majority shareholder to acquire Johnson & Phillips PROFIT

News Desk

Johnson & Phillips (Pakistan) Limited announced on Monday that Muhammad Anis Mianoor, the majority shareholder, has decided to acquire all shares currently held by other shareholders. The decision follows a special resolution passed by the company’s shareholders during an extraordinary general meeting on January 18, 2024, calling for the delisting of the company from the Pakistan Stock Exchange (PSX). Muhammad Anis Mianoor offered to acquire shares at Rs. 160 per share, a price approved by the Pakistan Stock Exchange (PSX). The share purchase offer will be valid from January 30, 2024, to April 1, 2024, inclusive, after which the company is expected to be delisted from the PSX. In a meeting held on July 4, 2023, the company’s board decided to delist Johnson & Phillips from the PSX and repurchase ordinary shares from minority shareholders at Rs. 35 per share, pending approval by the PSX board. The delisting application filed with the PSX cited several reasons, including increasing compliance requirements, challenges for sponsors in managing the company due to the country’s economic situation, the company’s shift from manufacturing to trading, and its relatively small market capitalization compared to other listed entities.

04 COMMENT

On teaching and communicating

Tuesday, 30 January, 2024

India’s descent

T

Thing are going to get worse before they get better

pitfall for the instructor is the urge to ing it. While the ideal is to make the contents themAnd some of the challenges involved makeAhismajor lecture perfect and definitive. While perfec- selves captivating, there are undeniable limits to that

HOUGH the Mosque came down in 1992, the fruition of the ruling BJP’s attempt to the process of erasure of India’s past edges closer, specially in its most conspicuous example. A similar exercise in Kashi and Mathura are expected to follow.

India’s shift towards religious majoritarianism is a lamentable turn of events. Despite its constitution defining it as a secular state, the country finds itself entangled in the saffron politics of the BJP – a political party acting more like a militant group than a representative force for a diverse nation. Prime Minister Narendra Modi’s inauguration of the Ayodhya temple on January 22, constructed on the remains of the Babri Masjid demolished by a Hindu mob in 1992, took place without regard for the concerns of Indian Muslims, the largest minority community.

Leading up to the inauguration, Indian Muslims exercised caution, postponing personal events and advising against train travel. Media coverage sought opinions from visible Muslims, revealing a disturbing enthusiasm in their voices that spoke volumes about the decline of India’s celebrated secular ideals.

While certain expectations surround usual actors, the notable disappointment came from A-list Bollywood figures, including an industry led by a Muslim actor, who posed for cameras without acknowledging the site’s tragic history.

India’s cherished separation of religion and state has given way to a more prominent role for fundamentalists. The country’s strained foreign policy with Pakistan has fueled a hostile attitude towards Muslims, aligning animosity with the neighboring nation along religious lines. The BJP consistently exploits anti-Pakistan sentiments for political gain, exemplified by the temple’s inauguration timing just months before the 2024 elections, raising doubts about Modi’s political motivations.

Even some dissenting Muslim voices have shifted allegiance, endorsing the official line and dismissing progressive views as hindrances to India’s economic success.

The temple visit is now a litmus test for citizens, seen as an endorsement of the government and loyalty to the country.

However, amidst this political spectacle, the Modi government neglects its own people – Indian Muslims who have always identified as Indian first.

When the BJP rose to power in 2014, hopes were high for a correction of past mistakes, particularly the Gujarat pogrom. Unfortunately, the party has exacerbated the situation, tethering India’s identity to Hinduism. India’s oncecelebrated diversity and secularism have eroded over the past decade. While there is a glimmer of hope for a return to respecting diversity, the prospects for reconciliation seem distant. India appears on course to become a majoritarian state, where only Hindutva ideology prevails.

L

ET me start by presenting my credentials. I have had the ongoing privilege of teaching at the undergrad and graduate levels for over a decade now. Before this experience, I also had the opportunity of teaching schoolchildren for a good five years. Add to it all those years when I was on the receiving end, so to speak, and I like to think that I have a fair idea what I am talking about.

There is no dearth of those who consider teaching an easy job. The fact of the matter is, while teaching badly may be the easiest thing in the world, teaching well is a different matter altogether. Genuine experts of any area of study are hard to come by, but those who really know how to communicate their knowledge to others are probably even rarer. To become an extraordinary teacher, one has to overcome numerous challenges that are bound to come his way.

Some of those challenges are fairly simple to negotiate, provided one is conscious of them; others are such that require much more than simple awareness of them. Luckily, most of these can be sorted out reasonably well with experience and a continual resolve to improve. Greatness (in any field) is rightly reserved for a select few, but anyone can aspire to and succeed in becoming an effective teacher.

The topic is arguably of more import today than it was at any time in history. The internet and the social media having become what they have, we now have innumerable folks teaching everything under the sun from mathematics to logic, from literature to law, from science to history and from philosophy to sociology; and the list of these educators keeps growing by the day. Many traditional as well as on-line educators have content of very high quality to offer. It would not be unfair, however, to remark that the way most of them communicate it leaves a lot to be desired.

The first issue for the teacher concerns his or her body language. To a large extent, the body language is a function of competence in one’s field of interest, but that is not all there is to it. There are the inevitable issues with movement (too much or too little) and voice (speaking too quickly or too slowly) or problems with finding the right pitch and tone. Experience has a way of sooner or later helping teachers relax and focus on their content. Looking at oneself teaching (on video, or in mock-sessions in front of a mirror) usually accelerates progress on this front.

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

Yousaf Nizami

India in Dhaka Editor Umar Aziz M. A. Niazi

Executive Editor

Joint Editor

HAsAN AFTAB sAEEd

From Independence to contemporary challenges

I

AsAd Ali

N the annals of history, the birth of Bangladesh stands as a poignant chapter, marked by a tumultuous blend of nationalist fervor, political maneuvering, and regional dynamics. The emergence of Bangladesh as an independent nation was, in many ways, shaped by the exploitation of antiPakistan sentiments orchestrated by India.

However, this seemingly triumphant moment was marred by a complex interplay of factors that continue to influence the nation’s trajectory to this day.

The inception of Bangladesh was not merely a struggle for autonomy but a manifestation of India’s strategic interests. In the pursuit of creating a new nation, India subtly worked against the very concept of an Islamic state, challenging religious values and fostering a sense of ethnic pride. The love for the Bengali language and culture was exaggerated to the point of creating an identity crisis, as West Bengal found itself excluded from the newly formed Bangladesh. The scars of this manipulation persist, sowing seeds of discontent and shaping the collective consciousness of the Bangladeshi people.

As the pages of history turn, Bangladesh finds itself grappling with contemporary challenges that echo the manipulations of its past.

The current political landscape, dominated by one party tightening its grip through dictatorship and allegations of electoral rigging, has drawn criticism from the opposition. The assertion that democratic values are being violated becomes a rallying cry against the backdrop of a government accused of colluding with India to exert control over Bangladesh.

The tension between India’s desire for a friendly, anti-Pakistan Bangladesh and the Bangladeshi people’s natural inclination towards Islamic culture and fraternity is palpable.

The government’s pro-India policies face scrutiny, particularly as reports of mistreatment and even lynching of fellow Muslims by Hindu mobs in India intensify. This dissonance fuels accusations that India has never been a true friend to Bangladesh, manipulating its political landscape and interfering in its elections.

Within this context, the opposition, rooted in re-Islamization and advocating for a shift in foreign policy away from India, becomes a voice of dissent. The Bangladesh Nationalist

Party (BNP) condemns India for what it perceives as attempts to control Bangladesh’s destiny. Allegations of terrorism and the subsequent designation of the opposition as a threat further fuel the ‘India Out’ movement. Slogans such as “India is not a friend of Bangladesh” reverberate across social media platforms, fanning the flames of anti-India sentiment.

The opposition, often labeled as traitors for their disagreement with the government’s decisions, emerges as representatives of the people’s concerns. Tariq ur Rehman, accused of anti-state activities, becomes a symbol of resistance against foreign interference. The call is clear – Bangladesh asserts its sovereignty, demanding that India cease meddling in the internal affairs of its smaller neighbors, be it Maldives or Bangladesh.

In the tapestry of Bangladesh’s narrative, threads of complexity intertwine – a struggle for independence woven with the nuances of identity, geopolitics, and the ongoing tension between nationalism and religious affinity. The echoes of the past reverberate in the present, as Bangladesh navigates the challenges of maintaining its independence and defining its identity on its own terms. Bangladesh and India have historically shared a complex relationship, shaped by a range of political, economic, and cultural factors. However, in recent times, a narrative has emerged from the Bangladeshi opposition, particularly the Bangladesh Nationalist Party (BNP), accusing India of not being a true friend and of meddling in Bangladesh’s internal affairs. This narrative revolves around allegations of India manipulating Bangladesh’s political landscape, influencing elections, and attempting to control the destiny of the nation.

Lahore – Ph: 042-36300938, 042-36375965

tion is no doubt a noble goal, the teacher must keep reminding himself that the road to hell is paved with good intentions. The hell that this particular intention generally leads to is wordiness owing to the desire of cramming the lecture with too much detail. While it is never advisable to shortchange the student by sacrificing on accuracy in favour of simplicity, it must be realized that some nuances can only be understood once the student has thought through the subject matter for himself, and is at the stage where those finer difficulties have arisen for him. Taking frequent detours and pre-empting questions and answering them prematurely for the student not only dilutes the delivery of the major thrust of the lecture but are also detrimental to the long-term growth of the student.

Teachers, sooner or later, get cured of this desire of packing too much information when they realize that they do not have infinite time at their disposal and that they must trust the serious student to dive to depths that cannot be covered in the limited time available to them in class. They must, provided they use the old-fashioned board and chalk (or marker) for teaching. All bets are off however, if they use the PowerPoint instead.

Arguably the greatest bane of education is the dull lecture where the students wish they were dead or at Point Nemo. When a considerable portion of pupils is yawning or struggling to barely keep awake, it is usually nature’s way of telling the teacher that the proceedings need to be spiced up a bit. Thanks to the social media, the human attention span is currently at its lowest ebb in all history. Now it is by no means implied here that an interesting lecture will eliminate all sleepers, any more than an absorbing book can be expected to ensure, in and of itself, that no reader will toss it away unfinished. The point here is that if the inevitable is bound to happen (as it sure is in many cases) let it not be because the instructor had failed the task of making his lecture interesting.

A necessary (sadly not sufficient) condition for an interesting lecture is that the instructor enjoys deliver-

(depending on the subject matter). The instructor should therefore not consider the employment of comic relief as something beneath his dignity or that of his class; because it is not.

What makes the situation tricky for the teacher is that the use of comic relief can easily be taken to unhealthy extremes. There are seasoned instructors who are guilty of grossly overdoing it. For where the challenge for a novice speaker is how to fill up the time allotted to him, the experienced presenter is usually faced with the exact opposite difficulty: Namely, picking and choosing from a seemingly inexhaustible repertoire of amusing stories and titbits, what to use and withholding all the rest. In fact, the more experienced the teacher, the harder it is to avoid this trap. For with his experience, too much of such material is at hand, and therefore the temptation to share it all is too strong to resist for most. Succumbing to this temptation (and it happens way too frequently) takes away significantly from the focus, and therefore the quality, of the talk.

This need for focus may appear to be at odds with the importance of making the lecture absorbing (which was stressed a moment ago); but it is certainly not. A lecture is a performance, and like all acts, wit and spontaneity are crucial ingredients for its success.

But the spontaneity that is called for is the one that is inside the confines of a script or four corners of the scope of the lecture. A totally adlib, unscripted type of performance may be enjoyable for many in the audience, but rarely can it be a good lecture. Even if on any given day it happens to be a good presentation by chance, there is no way (without there being a method to the madness) that it can be repeated. This is why focus and structure are so crucial. A lecture, then, must be as enjoyable as it can be made ensuring the delivery of its contents, but not anymore. Something easier said than done, but well worth keep trying!

The author is a connoisseur of music, literature, and food (but not drinks). He can be reached at www.facebook.com/hasanaftabsaeed

Arguably the greatest bane of education is the dull lecture where the students wish they were dead or at Point Nemo. When a considerable portion of pupils is yawning or struggling to barely keep awake, it is usually natureÊs way of telling the teacher that the proceedings need to be spiced up a bit. Thanks to the social media, the human attention span is currently at its lowest ebb in all history. Now it is by no means implied here that an interesting lecture will eliminate all sleepers, any more than an absorbing book can be expected to ensure, in and of itself, that no reader will toss it away unfinished.

One of the primary grievances voiced by the opposition is the allegation that India has been manipulating Bangladesh’s political landscape, particularly during elections. The BNP accuses India of meddling in electoral processes to influence the outcome in favor of parties that are more aligned with Indian interests. These accusations have fueled suspicions and led to a growing distrust between the political leadership of the two countries.

A significant turning point in the strained relations between the BNP and India is the accusation of terrorism. The opposition party, or factions within it, may face accusations of having links with terrorist elements. This leads to the designation of the opposition as a threat to national security, providing a rationale for stringent measures and crackdowns against them.

Such allegations not only damage the reputation of the opposition but also intensify anti-India sentiments among their supporters.

The culmination of these grievances has given rise to a movement known as ‘India Out,’ gaining momentum among sections of the population. This movement reflects a growing sentiment of anti-India fervor, fueled by the opposition’s narrative and accusations. Slogans like “India is not a friend of Bangladesh” resonate across social media platforms, contributing to the polarization of public opinion and a sense of nationalistic fervor against perceived external interference. The strained relations between the opposition and India have international ramifications. The geopolitical dynamics of South Asia are closely watched by global powers, and any escalation of tensions between Bangladesh and India could have wider implications for regional stability. Neighboring countries and international organizations may become involved in diplomatic efforts to ease tensions and encourage dialogue between the two nations.

The writer is Islamabad based regular contributor

Editor’s mail

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

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

News addiction

WE, as a nation, consume news as much as we consume tea. While it is good to be politically informed and aware of happenings around the world, what, if like all other habits, it becomes an addiction? Just think about it for a while and you would realise what you are getting into. Once addicted, there is no way out. No easy way out, I mean.

Today, in an era of social media wars and frenzy, news addiction has become real. But, is it healthy? Numerous studies have shown that overconsumption of media is not good.

We can read a book or few articles in the newspaper. However, continuous consumption of politics and news from 7pm to midnight, or watching vlogs of your favourite news anchor for a long time is not a healthy thing to do.

We should be spending our time on better things. Nations do not change by sitting on sofas, drinking tea and watching millio- naires debate and shout at each other.

AFFAN KHATTAK ISLAMABAD

Inadequate facilities

I recently visited the Sindh Government Hospital in Malir’s Khokhrapar area, and had a discussion with the administration about the lack of healthcare facilities there. I was told that about 71 positions were lying vacant, and many of the doctors were considering leaving the hospital due to inadequate facilities.

The most significant challenge is the consistent eight-hour electricity load- shedding every day by K-Electric (KE). Despite complaints to the higher authorities, there has been no resolution to the matter, leading to a decline in the hospital’s performance. Urgent intervention by the Sindh government is needed to address these pressing issues.

ALI RAZA SOOMRO KARACHI

For a change

BEING an educationist, I believe we lack moral education, especially at the primary level, which is the foundational stage. The example of Japan, an enlightened and prosperous country, is in front of us. The curriculum at the primary level there focusses on moral education and social ethics, and how to put them into practice in everyday life. Our academic institutions should also emphasise such aspects so that the students, when they grow up, are able to bring a social change. All the stakeholders should contribute to make it possible.

AHMED ALI TUNIO KHAIRPUR MIRS

Impact of inflation

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Karachi – Ph: 021-32640318 I

Islamabad – Ph: 051-2204545

I

SURVIVING the impact of inflation is difficult, but there are many ways to manage the growing issue of inflation. One way is to eliminate one’s unnecessary expenses, like upgrading the existing car, furniture, home appliances, etc.

It is surely advisable to invest much of our savings. Also, we should actively focus on reducing the utility bills at our homes and offices.

These steps might not eliminate inflation, but they can help us manage its effects better. Increasing income through additional work or searching better job opportunities can also be helpful against fighting the impact of inflation.

MUMRAIZ KHAN KARACHI

Web: www.pakistantoday.com.pk

I

Email: editorial@pakistantoday.com.pk

COMMENT 05

The silent epidemic Tuesday, 30 January, 2024

Youth mental health and its actual impact

P

Wazir zafar haSSan

AKISTAN is among the top 10 countries in the world concerning population, with around 230 million individuals. The UN Population Fund estimates around 50 % of the total population comprises youth aged 12-25. Pakistan is considered among the countries with one of the highest mental health issues, and around 50 million people suffer from such as depression, anxiety, post-traumatic disorder, eating disorder and schizophrenia, which often leads to suicide.

Yet, the research shows that a country with a considerable population and mental issues has a low number of trained psychiatrists and psychologists, and there are around less than 500 psychiatrists for such a populous country.

It is unfortunate that in a country with such vast and vibrant youth pollution, the mental health issues among the youth are increasing alarmingly, and people do not even accept it as a significant concern. These mental health issues require immediate attention.

Mental issues are psychological problems that affect people’s thinking and behavior. There may be several reasons why the Youth are facing and battling mental health issues such as work pressure, life struggles, relationship issues, unemployment, inflation, family issues, losing loved ones, child labour, poor academic records, use of drugs and many more.

Unemployment is one of the causes of psychological problems in adults and youth as the job market has become so saturated that most of the youth are unable to find a proper job or get paid too little to meet their expenses. Startup culture is too challenging in the country as society does not encourage the youth much in this regard. due to the

devastating situation of the economy, we can see in our daily lives that child labor is on the rise. The economic conditions push children from lower-income families to work and support their families, causing psychological effects on them.

The failed education system, where the students have to face so much pressure from the educational institute and family, is also causing the stress level to increase among the students. Some opt for the subjects of their parents’ choice and could not perform well. When they fail to meet the expectations of their family, they face mental hazards and go into depression with the uncertainty about their career. These conditions often lead the youth to drugs, looking for mental relief. The use of drugs is increasing alarmingly in Pakistan— however, the long-term use of drugs results in psychological and health problems.

But what’s the foremost hurdle to dealing with mental health problems like stress and depression? When we try to find the answer, I see the norms of our society as the top hurdle. It is a typical sentence we might hear most often: our parents and forefathers never went through such things, and be strong as no such things exist. Boys are especially told they are strong, cannot cry, and cannot express their emotions. They also equate it with masculinity and being strong or weak. When the majority of society is still not ready to accept it as a significant issue, then how can we expect it to resolve

or cure mental issues like depression? To cure an issue, first, we need to accept it as a matter of concern.

After the COVId-19 pandemic, depression and anxiety have increased at an alarming rate across the globe. Research shows that individuals with mental health issues have higher chances of physical and social life affecting social well-being.

Physically, they appear well but cannot correctly concentrate and give their total output due to their stress level.

The critical question here is why we do not pay much attention to this issue despite the consequences that could be observed in our society. Suicide cases are increasing day by day, and the majority of those who commit suicide are males and youth under 30. World Health Organization (WHO), in a recent statement, mentioned that suicide is

The failed education system, where the students have to face so much pressure from the educational institute and family, is also causing the stress level to increase among the students. Some opt for the subjects of their parentsÊ choice and could not perform well. When they fail to meet the expectations of their family, they face mental hazards and go into depression with the uncertainty about their career. These conditions often lead the youth to drugs, looking for mental relief. The use of drugs is increasing alarmingly in Pakistan·however, the long-term use of drugs results in psychological and health problems.

Israel is a top student of US imperialism

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The legacy of U.S. efforts to ‘fight terrorism’ has always been mass death and displacement. Israel has been taking notes

IN THESE TIMES

azadEh ShahShahani and KhUrY PEtErSEn-SMith

HE overwhelming scale of Israeli killing and destruction in Gaza begs the question: How, in the twenty-first century, before the eyes of the world, can such violence be allowed to pass?

Part of answering this question requires a critical look at the past two decades of war making that the United States has led in the name of “fighting terrorism.”

There are features of the current Israeli assault — crucially enabled by the United States — that are uniquely cruel and devastating. But there are also aspects of this chapter of colonial violence that are familiar and reiterative of U.S. practices over more than 20 years in the lands stretching from North and East Africa to the Middle East to Central Asia.

According to the Washington Post, Israeli destruction caused by its aerial bombardment of Gaza’s cities, for example, is happening at a much more aggressive pace than the destruction that the United States caused when it bombarded Mosul in 2016 and 2017, Raqqa in 2017, as well as Russia’s bombardment of Aleppo in 2016.

The Post’s use of these examples of devastating bombing as points of comparison, however, highlights how unfortunately familiar they are regarding the current assault on Gaza — even if the current bombing is happening with far more intense speed and destruction. Another feature of the Israeli offensive, the mass displacement of Palestinians in Gaza and the West Bank, has echoes of fairly recent U.S. actions in neighboring countries.

Massachusetts Congressman and Marine veteran Seth Moulton actually boasts that, in the 2004 invasion of Fallujah, U.S. Marines displaced nearly the entire city’s population as they attacked it. Moulton writes: dropping leaflets, broadcasting announcements and, critically, providing safe passage and safe haven, the Marines evacuated civilians from Fallujah so effectively that, by the time they went back in, up to 90% of the city had left. Only the hardened insurgents remained to be eliminated.

One could easily take Moulton’s telling of the U.S. assault — which he celebrates as “humanitarian” because it uprooted the people of a city rather than slaughtering them all — and replace “Marines” with “Israel defense Forces” and “Fallujah” with “Gaza City” and it would be at home in an IdF press briefing today.

The U.S. carried out horrendous episodes of violence — like the sieges of Fallujah, Raqqa and Mosul — largely out of the view of the American public, with mainstream U.S. media neglecting to cover their toll. But today, officials are openly drawing on those very histories to inform the Israeli atrocities in the assault on Gaza.

Secretary of defense Lloyd Austin and other Pentagon officials have explicitly pointed to the U.S. assaults on Iraqi and Syrian cities in their

the second leading cause of death among the youth of 15 to 29 globally. A report by WHO in 2022 shows more than 15,000 people committed suicide in the year, out of which 25% were teenagers. While in our neighbor, India, 13,000 students committed suicide in 2021. Why a majority of the youth are among those who commit suicide?

Besides the adults and youth, children are also facing mental issues such as increasing stress levels in the form of developmental disorders, anxiety, exam stress, peer pressure, thinking and family’s high expectations. These issues lead to a disorder called Attention deficit Hyperactivity disorder (AdHd), which causes abnormal levels of hyperactivity and impulsive behavior. People with AdHd have low concentration levels, are forgetful about tasks, get distracted easily and may

current conversations with Israel about Gaza.

“There are some lessons learned that we will be more than happy to share with our allies here, Austin told reporters, regarding what the United States did in cities like Mosul and Raqqa. “In terms of operating effectively in dense urban terrain, creating safe humanitarian corridors, making sure that we’re thoughtful about how we shape the battle and making sure that our objectives are well defined.” The legacy of these U.S. assaults is mass death and displacement.

The U.S. bombardment of Raqqa, for example, resulted in the displacement of nearly the entire population of that city, 80% of which was made entirely uninhabitable. The fact that U.S. officials can refer positively to these histories in the mainstream media indicates precisely how little critical interrogation of those attacks were taking place when the United States was carrying them out — or since.

Israeli officials are picking up on these “lessons” imparted from their U.S. counterparts, referring to devastating assaults that transformed the human and physical landscapes of whole cities after which the United States declared victory and faced little scrutiny by the media or public. Mark Regev, the senior advisor to Israeli Prime Minister Benjamin Netanyahu, has justified Israel’s current actions in Gaza by referring to the past U.S. actions in Iraq. When asked about the proportion of Palestinian civilians that Israel is killing in Gaza, Regev said, “when the United States was leading a coalition to get ISIS out of Mosul, there were civilian casualties.”

Unlike in the cases of the invasions of Mosul, Raqqa, Fallujah and other cities by the Americans, there actually is tremendous scrutiny toward Israel’s U.S.-armed and enabled assault on Gaza today. The massive outpouring of protest is forcing Israel and the White House to answer for their actions.

Washington and its allies have gotten away with countless human rights violations over the past two decades. It is painfully clear that the most urgent demand to fight for is a cease-fire to the catastrophe that has unfolded in Gaza. But we cannot end there. The practices and justifications for what the United States and other countries have carried out and enabled in the name of “fighting terrorism” must be excavated, interrogated and uprooted if we are to have any hope for just and peaceful futures.

We must also hold Netanyahu, Biden, George W. Bush, other war criminals and those abetting and facilitating war crimes and crimes against humanity accountable instead of continuing to bestow accolades upon them. The era of impunity is over.

AZADEH SHAHSHAHANI is legal and advocacy director at Project South and a past president of the National Lawyers Guild.

KHURY PETERSEN-SMITH is the Michael Ratner Middle East Fellow at the Institute for Policy Studies (IPS), researching U.S. empire, borders and migration.

stay idle for too long.

Our thoughts have a profound impact on mental conditions. Sometimes, we think that we are not doing enough, that nothing will go well in our lives, and that we are a loser, and these thoughts affect our mood resulting in physical sensations with low energy. Ultimately, it affects our behaviour, and we start withdrawing from friends and staying alone. Some other reasons for causing mental health issues are mind reading, overgeneralization, emotional reasoning and thinking in absolutes, such as all or nothing; these thoughts must be controlled at the beginning.

Time keeps on passing, but the silent epidemic will not go anywhere. We are to live with it; collective efforts are needed to fight this alarming issue. We need to ask ourselves first what is our mental health conditions and if we feel there is something, we need to talk with our close ones, such as family or friends.

If we notice strange behavior in people around us, we need to talk to them and help them to fight by encouraging them. Sometimes, a word of encouragement means a lot to people facing mental issues. One of the causes of such issues is social media, which creates high expectations and unrealistic images of people and society. Unlimited use of social media should be avoided, and a proper sleep schedule is also essential to avoid mental issues like depression. Most important of all, do not deceive yourself. If you are facing mental issues, admit it and try to cure it. There is no shame in it.

The writer is a graduate student of International Relations and a freelance writer belongs to Skardu, Gilgit Baltistan.

Email: zafarhasan527@gmail.com

Banks phasing out ATMs

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The money deposited through CDMs does not show in the customer’s account until after the bank’s cash officers register the transaction DAILY STAR

SohEl ParvEz

UTOMATEd teller machines (ATMs) were once a symbol of modern electronic banking for facilitating quick and easy cash withdrawals alongside other banking solutions, including credit card payments and balance confirmation.

However, banks in Bangladesh are now switching to cash recycling machines (CRMs) as they provide customers the added convenience of being able to deposit or withdraw funds from a single location. Besides, CRM usage is helping banks reduce their operational expenses associated with having to load the machines with cash for withdrawals by recycling deposited funds.

At the same time, people are increasingly turning toward electronic solutions for fund transfers, bill payments and other transactions in a trend that is gradually reducing the need for cash handling. data of Bangladesh Bank showed there were about 13,732 ATMs in the country as of August 2023. However, the number fell to 13,437 by the end of November that year as banks started reducing their ATMs in rural areas.

On the other hand, CRMs were first introduced in Bangladesh just seven years ago, but their usage has steadily risen with banks having installed 3,897 units as of last November. Arup Haider, head of retail banking at City Bank PLC, agreed that electronic solutions are becoming exceedingly popular payment methods. For example, Mobile Financial Services (MFS) are now a major medium

for conducting transactions, thereby reducing the need for cash withdrawals and furthering the country’s move towards a cashless society.

Additionally, banks are gradually replacing ATMs with CRMs as the latter enables customers to deposit or withdraw money on a real-time basis from a single spot, he said. Haider also informed that like ATMs, which mainly facilitate cash withdrawals, banks are gradually phasing out cash deposit machines (CdMs) as these too have little purpose other than taking deposits.

Moreover, the money deposited through CdMs does not show in the customer’s account until after the bank’s cash officers register the transaction, he added. And although installing CRMs required more investment compared to ATMs and CdMs, banks are preferring CRMs as they reduce the cost of cash replenishment. “A lot of cost goes into loading cash in ATMs both in terms of money and time. But when it comes to CRMs, it is actually reducing the operating cost,” Haider said. Md Shafquat Hossain, deputy managing director and head of retail banking at Mutual Trust Bank PLC, said the number of CRMs will grow as they facilitate both deposits and withdrawals. “These are benefiting banks too. They can bring down the queue of clients in branches,” he added. Meanwhile, as the cost of operating ATMs is high, some banks are depending on the ATMs of other banks to serve their customers instead of establishing their own.

Md Mahiul Islam, deputy managing director of BRAC Bank, said some big banks are downsizing the number of their ATMs. “We did not close any ATMs re-

Online child protection

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GUARDIAN Editorial

hen the history of social media is written, there must be a chapter for the whistleblowers who have played a vital role in enabling public scrutiny. In 2021 Frances Haugen, who had worked at Facebook (now Meta), released research revealing Instagram’s harmful effects on children. Last year another former employee, Arturo Béjar, gave evidence to Congress about the sexual harassment his daughter faced on the platform. The engineer’s work features in a lawsuit against the company launched by the attorney general of New Mexico, Raúl Torrez.

This follows last year’s investigation by the Guardian into online sex trafficking. It found that Meta is failing to report or even detect the extent of the online pimping of children. The company’s own documents show that about 100,000 children, mainly girls, are sexually harassed each day on Facebook and Instagram. Experts warn that job cuts at Meta and other businesses, particularly in moderation and safety teams, will make these problems even harder to manage. Last week Mr Béjar told the Guardian that Meta has refused to learn from the death of the British teenager Molly Russell, whose decision to take her own life in 2017 was influenced by suicide and self‑harm content she had viewed.

Mr Torrez accuses Meta of enabling adults to message and

cently. Instead, we are opening subbranches featuring ATMs,” he added.

In May 2023, Standard Chartered Bank (SCB) Bangladesh began to restrict access to ATMs at its branches to encourage cashless transactions. As such, it eventually closed down several of its ATM outlets. In an email response regarding the closure of ATMs in May last year, SCB said as cash and ATMs lose relevance and Bangladesh Bank charts a course to become cashless by 2027, it was following suit. “We started promoting cashless lifestyle through campaigns that we started in March 2023,” SCB said. “We believe in having separate ATM networks for each bank but having them at the same locations is redundant not only in terms of investment for installation, but the use of electricity and carbon emissions associated with the operation of these networks,” it added.

The SCB also said that since almost all of the ATMS were connected through Visa/Mastercard/National Payment Switch Bangladesh (NPSB) network, it is only a matter of time before there is a convergence of these networks. However, Abul Kashem Md Shirin, managing director and CEO at dutch-Bank PLC, said demand for cash withdrawal through ATMs/CRMs will persist for some time in the future. “This is because people in Bangladesh are still not ready to go fully cashless. But the growth of ATMs will not be that high anymore as CRM usage will grow,” Shirin added. At present, dutchBangla Bank PLC has 5,500 ATMs and 2,000 CRMs across the country. The private bank recently placed work orders to buy another 3,000 CRMs as a part of its effort to install the device at all branches.

groom children. Other evidence recently made public includes complaints from advertisers about potentially illegal content.

Meta denies the lawsuit’s claim that it is a marketplace for child predators. But given the volume of evidence of online harms of various sorts – harms which coexist with the technology’s benefits – it is hard to deny that the regulatory framework over the past two decades has been disastrously lax. Key examples include the decision in 1996 that online platforms should be free of the obligations of publishers – something that President Joe Biden has suggested should change – and the choice of 13 as the default age for holding accounts. A separate issue in the US is that the law prevents AI-generated tips about abusive content from being investigated by police until they have been reviewed by the companies. As Beeban Kidron, the British campaigner for online safety, has often pointed out, this is an artificial environment that has not been engineered safely. AIpowered deepfakes are creating new risks.

Thanks in part to a civil society lobby including the 5Rights Foundation, the NSPCC and Ian Russell, Molly’s father, the UK will have some of the strongest regulation in the world when the online harms bill comes into force. But that hasn’t happened yet, and Labour believes the law needs tightening further. Meanwhile, the all‑party parliamentary group on commercial sexual exploitation has called for tougher age verification and the creation of a new offence of supplying pornography online to children – an area in which the Spanish government is also considering legislating.

The vast wealth of Meta, Twitter/X, Google and the other internet giants should increase and not lessen the responsibilities to society placed upon them.

06 NEWS

INDIA’S MODI TO BET ON POPULARITY OVER POPULISM IN BUDGET AHEAD OF POLLS

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NEW DELHI

AGENCIES

NDIAN Prime Minister Narendra Modi is expected to buck a trend of spending big on new welfare programmes in a budget before a general election to instead focus on infrastructure to keep the economy humming while narrowing the budget gap.

Finance Minister Nirmala Sitharaman will announce the budget for 2024/25 on Feb. 1, which economists say will be heavy on political messaging, drumming up the Modi government’s pitch of inclusive growth, but conservative in its approach to spending.

“The government will likely aim to strike a balance between pre-election political messaging, fiscal consolidation needs and continued focus on capex,” said Samiran Chakraborty, economist with Citigroup.

For instance, the government may double the annual payout to female farmers to 12,000 rupees, to attract women voters but the policy will only cost $1.44 billion annually, a meagre amount in the government’s overall spending, according to a Reuters report.

The government will also likely keep its major subsidies in check for the next

fiscal year that starts from April 1 at current year’s level at around $48 billion.

Modi extended his free foodgrain programme for the next five years, and that too will incur very little additional spending as it has been running a subsidised foodgrain programme for years.

It is planning to reduce its fiscal deficit, which is the difference between the expenditure and revenue collected, by at least 50 basis points in 2024/25, from the current target of 5.9% of GDP for the ongoing fiscal year.

The government is expected to look past the opposition’s criticism of high unemployment among youth and continue spending heavily on infrastructure while trying to draw foreign and domestic manufacturers to invest via incentives in the hope its growth-boosting policies will eventually create jobs.

The likely lowering of the fiscal deficit in an election year shows the government may not be relying very heavily on social spending to woo voters but bank on Modi’s popularity that helped

the ruling party win recent state elections and emotive events like the opening of a Hindu temple on a long disputed site.

“As it is a general election year, there will be at least some temptation from within the ruling BJP (Bharatiya Janata Party) to announce big fiscal giveaways,” said Shilan Shah, deputy chief emerging markets economist at Capital Economics.

“But following the BJP’s exceptionally strong performance in recent state elections, we think it will conclude that it has enough political goodwill to balance the need for giveaways with its long-term ambition of reining in the fiscal deficit,” said Shah.

GROWTH IMPULSE Powered by public spending, India’s economy grew 7.6% in the July-September quarter, and is forecasting growth of 7.3% for the full year that ends on March 31, the world’s fastest pace for a major economy.

A further increase of as much as 20% year-on-year in capital expenditure is expected for 2024/25.

“The strategy of boosting on-budget capital expenditure is likely to be continued, which will in turn help the private sector investment cycle to gain traction,” said Deutsche Bank in a note.

China appreciates Thailand’s upholding of One-China principle: Wang Yi BANGKOK

STAFF REPORT

Iran denies links to Jordan drone strike that killed 3 US troops TEHRAN

AGENCIES

Iran denied US and British accusations that it supported militant groups behind a drone strike in Jordan that killed three US military personnel, Tehran’s official IRNA news agency said on Monday.

“These claims are made with specific political goals to reverse the realities of the region,” IRNA quoted foreign ministry spokesman Nasser Kanaani as saying. There has so far been no claim of responsibility for the strike.

US President Joe Biden said on Sunday that “radical Iran-backed militant groups operating in Syria and Iraq” were behind the strike on the frontier base in Jordan’s northeast.

British Foreign Secretary David Cameron reiterated a call for Iran “to de-escalate in the region”.

Kanaani said such statements threatened “regional and international peace and stability”.

US Central Command said 34 personnel were also wounded, eight of whom required evacuation.

US troops operate at the base near Jordan’s border with Iraq and Syria as part of an international coalition against the Islamic State jihadist group.

The strike marked the first US military losses since the war between Israel and Hamas began.

Iran-backed Hamas launched an unprecedented attack on October 7 that resulted in about 1,140 deaths, mostly civilians. Israel’s relentless military offensive has killed at least 26,422 people in Gaza, most of them women and children, according to the Hamas-run Gaza health ministry.

Chinese Foreign Minister Wang Yi said on Monday that China appreciates Thailand for upholding the one-China principle.

Wang made the remarks during his meeting with Thai Prime Minister Srettha Thavisin, noting that the Taiwan question is a matter of sovereignty and territorial integrity of China.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said China believes that Thailand will continue to understand and support China’s cause of reunification.

Wang noted that China always sees Thailand as a priority in its diplomacy with neighboring countries and will continue to support Thailand in safeguarding its national sovereignty and security and achieving development and revitalization.

China is happy to see Thailand, which is an important country in the region, play a positive role in regional stability and world peace, Wang added.

The top Chinese diplomat said Srettha’s decision to make China the first country outside the Association of Southeast Asian Nations (ASEAN) for an official visit after assuming office last year fully reflects the great importance that Thailand attaches to its relations with China, and has brought their traditional friendship even closer while deepening the long-standing tradition that “Chinese and Thais are of one family”.

The leaders of the two countries have outlined the blueprint for building a China-Thailand community with a shared future, opening a new chapter in the friendly cooperation between China and Thailand, Wang said.

As China and Thailand are comprehensive strategic cooperative partners, the strengthening of mutual trust and mutually beneficial cooperation between them would provide further guarantee of

peace in Asia and impetus for regional development, said Wang.

He stressed that the purpose of his visit is to implement the consensus of the leaders of the two countries, advance pragmatic cooperation in various fields, and bring the China-Thailand relations even closer.

China is willing to maintain high-level exchanges with Thailand, enhance cultural and people-to-people exchanges, seize the opportunity of mutual visa exemption to promote two-way tourism, and deepen pragmatic cooperation in areas such as economy, trade and investment, said the Chinese top diplomat.

The two sides should speed up the development of the China-Thailand Railway, open the central line of the Trans-Asian Railway, and push for an early realization of the China-Laos-Thailand Connectivity Development Corridor Outlook, so as to provide new momentum and open up new opportunities for the long-term development of both countries, Wang said.

For his part, Srettha said Thailand attaches great importance to the bilateral relations with China and firmly adheres to the oneChina principle.

The agreement on mutual visa exemption signed during Wang’s visit would facilitate the enhancement of economic, trade, and peo-

ple-to-people exchanges between the two countries, as well as deepen friendship between the two peoples and bring the already close relationship between Thailand and China even closer, said the Thai prime minister.

Thailand will actively participate in Belt and Road cooperation, said Srettha, adding that he hopes the relevant departments of both countries will strengthen communication and accelerate related projects to enhance regional connectivity.

The Thai prime minister noted that as 2025 marks the 50th anniversary of the establishment of diplomatic relations between Thailand and China, both sides should make early preparations and plans, maintain close high-level exchanges, and promote cooperation in various fields to achieve greater development of the bilateral relations.

Following the meeting, Wang and Srettha jointly attended the signing ceremony of a protocol regarding the export of Thai agricultural products to China.

During his visit to Thailand, Wang also met with Thai Deputy Prime Minister and Minister of Foreign Affairs Parnpree Bahiddha-Nukara for the annual consultation between the two countries, as well as Princess Maha Chakri Sirindhorn of Thailand.

Tuesday, 30 January, 2024 | KARACHI

Kuwait cracks down on Indian expats celebrating Ram temple inauguration KUWAIT CITY AGENCIES

Nine Indian expatriates in Kuwait faced legal consequences of celebrating the inauguration of the Ram Temple following the demolition of the Babri Masjid on January 22.

The controversial move, orchestrated by the Modi government, has sparked global outrage, especially among Hindu extremists.

Kuwait, often viewed as an advocate for Islamic values, promptly demonstrated its disapproval of India’s actions. Two different companies in Kuwait, employing these nine Indian citizens, distributed sweets among colleagues to mark the inauguration of the Ram Temple.

The Kuwaiti authorities swiftly intervened, responding to what they perceived as an act of insensitivity towards Islam.

Not only were these Indian citizens terminated from their jobs, but they were also ordered to leave the country immediately.

This incident adds to a series of past actions where Indian expatriates faced repercussions due to their involvement in anti-Islamic activities.

The rise of Hindu extremism globally is increasingly drawing condemnation, forcing adherents of radical ideologies to face the consequences of their actions.

The international community continues to witness the growing severity of Hindu extremism, prompting timely and concerted efforts to curb its influence and hold perpetrators accountable for their actions.

Govt teacher locked and burnt alive inside room in UP

KANPUR AGENCIES

A 48-year-old government college teacher died after he was locked in a room and set on fire in the Panki area of Kanpur in the BJP-ruled Uttar Pradesh state, India. The teacher, Dayaram, called his younger brother Anuj on phone and informed him that one Sanjeev and his aides had locked him in a room in the Patrasa village and set the room on fire.

Anuj rushed to the spot with police but by the time they could open the door, Dayaram had succumbed to burns. “Charred body of the teacher was found in a room. His brother has accused four people of murder,” Deputy Commissioner of Police (West) Vijay Dhul said.

Meanwhile, in another shocking incident, a 15-yearold Class XI girl student who was sexually assaulted by her neighbour, committed suicide after finding out that she was pregnant in Karnataka state.

PLA Bayi Aerobatic Team’s J-10 fighter jets depart for Saudi Arabia world defense show BEIJING

STAFF CORRESPONDENT

Seven J-10 fighter jets from the Chinese People’s Liberation Army (PLA) Air Force

Bayi Aerobatic Team took off on Monday morning from an airport in northwestern China for Riyadh, Saudi Arabia, to participate in the World Defense Show 2024, which will be held from February 4 to 8, announced Senior Colonel Xie Peng, a spokesperson of the PLA Air Force.

The team will perform aerobatic displays during the defense show. It is the 10th time the team has flown abroad, showcasing the charm of China’s “Honor Guard in the Blue Sky,” according to Xie. Force dispatched a YU-20 aerial tanker to accompany the J-10 formation for aerial refueling, Xie noted.

In the more than 60 years since its establishment, the PLA Air Force Bayi Aerobatic Team has flown with the J-5, J-6, JJ-5, J-7EB, J-7GB, J-10, and J-10C, performing more than 700 aerobatic displays for more than 700 delegations from over 170 countries and regions. In recent years, the team has continued to go abroad and perform on the world stage, becoming a messenger of peace, culture, and friendship.

In preparation for its first visit to Saudi Arabia, the Bayi

Aerobatic Team has conducted on-site inspections of the environment in the airport where it will perform, and carefully arranged the aerobatic maneuvers for this performance after taking both environmental characteristics and flight plans into consideration, the PLA Air Force said in a statement to the Global Times on Monday.

In terms of colored smoke selection, the Bayi Aerobatic Team specifically added green for this performance, as the color represents the national flag of Saudi Arabia and is also a symbol of peace and friendship. The team is confident it will present the most exciting aerobatic performance during the show, showcasing the image and charm of the PLA Air Force’s enterprising spirit and pursuit of excellence on the international stage, according to the statement.

It is also the first time that the PLA Air Force has used the YU-20 aerial tanker for aerial refueling support during the transition process of overseas missions. This allows the Bayi Aerobatic Team to fly directly to Saudi Arabia without the need to stop at foreign airports, the Global Times learned from the PLA Air Force. Military expert Ma Quan told the Global Times on Monday that using the YU-20 for aerial refueling for the first time to achieve long-distance direct flight for the J-10 performance formation demonstrates three things.

“Firstly, aerial refueling technology is an indispensable key part of modern air forces.

It greatly extends the aircraft’s loiter time and enhances the endurance of fighter jets. During this overseas mission, the Bayi Aerobatic Team used aerial refueling, eliminating the need for the aircraft to land at an airport, thus reducing reliance on ground airports. Secondly, the team’s long-distance transition, accompanied by the domestically-produced YU-20 aerial tanker, signifies the maturity of China’s key aerial refueling technology and reflects the achievements of the PLA’s strategic transformation and construction of the Air Force in recent years,” Ma said.

Thirdly, the J-10 demonstration forma-

tion’s aerial refueling training demonstrates their dual role as both performers and combatants. The main function of an aerobatic team is to showcase core military capabilities through spectacular flight performances, shaping the military’s image, conveying their spirit, and demonstrating their values.

“The pilots of the Bayi Aerobatic Team are all outstanding pilots selected from combat units. Flying directly from a domestic airport to Riyadh, a journey of several thousand kilometers that requires aerial refueling, reflects the PLA Air Force’s level of practical training,” Ma pointed out.

Tuesday, 30 January, 2024 | KARACHI

CORPORATE CORNER Disposable vapes ban could lead to relapse in people trying to quit smoking: Study

ISLAMABAD: A fresh study has indicated that banning disposable vapes might negatively impact 2.6 million people as well as discourage the use of e-cigarettes from then on in the United Kingdom.

This research comes from a recent discussion among UK officials to ban disposable vapes to prevent minors from becoming addicted to the product.The study was conducted by the University College London and funded by Cancer Research UK and was published by the journal Public Health.

It highlights the importance of tobacco harm reduction products to reduce the harm caused by tobacco addiction by being a less risky habit. The research further mentions that more adults in the UK have begun to favour e-cigarettes over combustibles. If a ban was to be enacted, it would negatively impact the image of disposable vapes and prevent smokers from seeing it as a safer alternative. PR

National Bank of Pakistan will collaborate with NASTP for strategic initiatives

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PROSPECT OF HEIGHTENED TENSIONS WITH IRAN FURTHER ADDS CONCERNS ABOUT POTENTIAL DISRUPTIONS IN REGIONAL ENERGY SUPPLY PROFIT

NEWS DESK

LOBAL oil prices saw an upward trend at the start of the week due to supply concerns arising from a drone attack on U.S. forces in Jordan.

Brent crude is currently trading at $83.21 per barrel, reflecting a 0.15 percent increase, while West Texas Intermediate crude (WTI) is at $78.22 per barrel, up by 0.15 percent compared to the previous close.

Both benchmarks experienced significant gains of 6.22 percent and 6.46 percent, respectively, last week—their most substantial weekly increase since August 2023.

The drone strike on U.S. troops in Jordan has raised worries about a poten-

tial escalation in the already volatile Middle East.

According to some analysts, the in-

cident could mark a critical turning point in the ongoing conflict and might lead to increased U.S. involvement.

Petroleum Division plans to host ‘Petroleum Conference 2024’ in Islamabad

National Bank of Pakistan and National Aerospace Science and Technology Park (NASTP) have entered into an agreement, marking a substantial and noteworthy stride in their collaborative endeavors.The event took place at the state-of-theart NASTP Karachi establishment, where Amin Manji, the CTO and Group Chief of the Information Technology Group at NBP, joined hands with Air Commodore Ghayas Uddin, the distinguished Managing Director of NASTP Karachi, to formally execute a comprehensive agreement delineating the provision of a purpose-built facility for NBP's IT Group at the state-of-the-art technology park.In attendance were prominent figures from both entities, including Khawaja Mohammad Ali, the Head of Technology Strategy, Risk and Governance at NBP, and Group Captain Dr. Shoaib from NASTP, alongside other esteemed team members from both organizations. PR

JLI Partners with NOWPDP to Empower Persons with Disability through Employment Opportunities

KARACHI: Jubilee Life Insurance, Pakistan’s largest private sector insurance company, signed a memorandum of understanding (MoU) with NOWPDP (Network of Organizations Working for People with Disabilities), Pakistan. This strategic alliance marks a significant step in Jubilee Life's ongoing commitment to diversity, equity, and inclusivity (DEI) within its workforce.As an equal opportunity employer, Jubilee Life is committed to a robust DEI strategy, setting tangible targets to promote a more diverse and inclusive workplace. A major focus of this agenda is to recruit persons with disabilities (PWDs), thus integrating them into various roles across the organization. Jubilee Life has identified various positions across different departments to be filled by PWDs over the coming year, demonstrating a practical approach to its DEI goals. In this regard, NOWPDP is an ideal partner since it is a renowned disability inclusion initiative that has been playing a pivotal role in the identity, welfare, education, skill-building, and economic empowerment all of which fall under the umbrella of Rozgar (Employment). PR

2nd AlBaraka Regional Conference Unveils Crucial Role of Home Remittances in Pakistan

KARACHI: AlBaraka Forum for Islamic Economy in collaboration with the Islamic Chamber of Commerce and Development (ICCD) hosted the 2nd AlBaraka Regional Conference to shed light on the crucial role of home remittances in Pakistan and their impact on sustainable development. The conference served as a platform to discuss the multifaceted aspects of home remittances and their far-reaching implications in shaping the economic growth tracks of nations in general, and Pakistan in particular.The event brought together leading experts, decision-makers, and stakeholders to engage in dialogue about strengthening Islamic finance tools to achieve the Sustainable Development Goals (SDGs) and align remittance strategies with sustainable development objectives in a globally changing remittance landscape. PR

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OIL PRICES SURGE AFTER DRONE ATTACK ON U.S. FORCES IN JORDAN NEWS

Islamabad: Dr Pema Gyamtsho, Director General International Center for Integrated Mountain Development (ICIMOD) called on the Caretaker Federal Minister for National Food Security & Research Dr Kausar Abdullah Malik. PR

Role of Masjid crucial in educating out-of-school children, preventing diseases: President Arif Alvi

KARACHI: President Dr Arif Alvi has said that Masjid can play a crucial role in the provision of education to out-of-school children along with imparting religious ethos for the socio-economic development of the country. He said that masjid occupy a central place in Muslim society and could be utilized to educate people about preventing diseases and other important social issues.The President expressed these views while chairing a meeting on the role of Masajid and Madaris in promoting education and creating awareness about health issues. The meeting was attended by the Caretaker Federal Minister for Religious Affairs and Interfaith Harmony, Aneeq Ahmed, Mufti Muneebur Rehman, Maulana Liaqat Hussain, Allama Razi Jafar, Maulana Yusuf Kasuri, Dr. Abdul Hai, Dr. Mohsin Naqvi, representatives of Health Department and Religious Affairs. President Arif Alvi said that 100% of the children in the neighboring country go to school, while in Pakistan 26.2 million children are deprived of going to school. Under the Masjid Free School program, free education will be provided to children from first to fifth class. Religious Affairs Minister Aneeq Ahmed told the meeting that dental health, ultrasound, X-ray, blood pressure and sugar tests will be done free of cost in the Masjid free clinic. The federal and provincial governments will fully cooperate with all Masjids. Masjid connect people to people. He further said that the role of mosques and madrasas is indispensable for positive academic discussions and learning religion. PR

A one-on-one business and skilled migration seminar was organized by the professional team of Ace Luxury Immigration at Hotel, Group photo taken by Senior Managing Partner Syed Abbas with Ace Luxury. PR

ISLAMABAD: Petroleum Conference 2024 is scheduled to take place at a local hotel. This prestigious event brings together industry leaders, experts, and government stakeholders to highlight the industry challenges and discuss the latest trends, and policy initiatives in the petroleum sector. Anwar-ulHaq Kakar, the Prime Minister of Pakistan, will preside over the event as chief guest, with provincial chief ministers attending to represent their respective provinces. The conference will be attended by international delegates, government representatives, policymakers, regulators, and investors from the Energy & Petroleum (E&P) Sector. The petroleum sector in Pakistan is facing a lack of desired level of investment due to multiple challenges causing a decline in indigenous production and an increase in energy import bill. Pakistan is heavily relaying on imports for meeting its energy needs. Around 85% of oil consumption is from imports while 25% of gas is also imported as LNG, which puts a heavy burden on the current account. PR

PTA Raid on VOIP Grey Setup

ISLAMABAD: Pakistan Telecommunication Authority (PTA) alongwith Federal Investigation Agency (FIA) conducted a successful raid against the grey trafficker at NESPAK Housing Society, Lahore. During the raid, 188 Active SIMs, 09 VoIP Gateways (32 ports), 05 Laptop and 2 Network Switches were recovered. Two persons have been arrested at the spot. FIA is further investigating the matter.The successful raid against the illegal setup is a part of PTA’s efforts to prevent the circumvention of the Multi-Finger Biometric Verification System (MBVS) and is made possible because of continuous monitoring, commitment and persistent efforts by PTA in curbing the menace of grey traffic thus curtailing the loss to the national exchequer. PR

Mastercard expands partnership with SadaPay to address financial needs of Pakistan’s SMEs and freelancers

PTCL launches first neutral Internet Exchange in Pakistan powered by DE-CIX

FRANKFURT/ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), the largest integrated Information Communication Technology (ICT) company of Pakistan and DECIX, the world’s leading Internet Exchange (IX) operator, celebrated today the inauguration of ‘Pakistan Internet Exchange (PIE) powered by DECIX’, the first carrier- neutral IX in the country.

Housed in the PTCL data center in Karachi, the IX is operated by DE-CIX under the DE-CIX as a Service (DaaS) model and built on DE-CIX’s award-winning interconnection infrastructure. The interconnection platform offers local peering, as well as remote access to DE-CIX Frankfurt (Germany), one of the largest IXs in the world. PIE powered by DE-CIX is set to serve as a hub for regional connectivity, enabling local networks lowlatency interconnection and the localization of global content, while increasing network stability, scalability, and security.Speaking at the occasion, the Chief Guest, Dr. Umar Saif, Federal Minister IT & Telecommunication said, "Pakistan is a massive digital market, with an internet user-base larger than the population of Italy. PR

Nigaah signs MOU with Karachi School of Art for student scholarships

Icon 2024 Inaugural Ceremony Held At The Indus Hospital, Jubilee Town Campus, Lahore

Indus Hospital & Health Network (IHHN) is kicking off ICON 2024 – its seventh biennial multidisciplinary conference in Lahore. The opening ceremony of ICON 2024 took place at The Indus Hospital, Jubilee Town Campus on Saturday, January 20, 2024.

With a vision to make Pakistan a healthier nation, IHHN’s flagship biennial conference ICON 2024 will focus on ‘Game Changing Solutions in Healthcare’ with themes cut across technologydriven healthcare, collaborative partnerships, and innovative solutions. It is providing a vital platform for healthcare visionaries and experts to come together and share the best of medical research and practice. PR

The prospect of heightened tensions with Iran further adds concerns about potential disruptions in regional energy supply.

Commodities trader Trafigura is assessing the security risks of Red Sea voyages following a recent attack on one of its tankers by Yemen’s Houthi group.

While disruptions to supply have been limited, the targeting of oil tankers linked to the U.S. and the UK has prompted the market to reconsider the risks of potential disruptions.

A missile attack off the coast of Yemen has led to a reassessment of Russia’s naphtha exports, with expectations of a cut in exports by approximately a third of its total.

Fires disrupting operations at refineries on the Baltic and Black Seas are cited as the cause for this potential reduction.

KARACHI: The 3rd Nigaah Art Awards ceremony was recently held at Mohatta Palace Museum, Karachi. As part of its endeavour to support art students, an auction was held to generate funds for Nigaah Tauqeer Muhajir scholarships to deserving students. The proceeds were utilised to support tuition fees for eight students for one year at the Karachi School of Art. The artists who contributed for this cause with their paintings were Hanif Shahzad, A.S.Rind, Akram Spaul, S.M.Fawad, Irfan Ahmed, Maqbool, Shahzad Zar, and Farrukh Shahab. An MOU to implement this was signed between Imran Zuberi, Executive Director, KSA and Tauqeer Muhajir, Editor, Nigaah Art Magazine. PR

ISLAMABAD: Mastercard and SadaPay have expanded their strategic business partnership to launch SME debit and credit cards in Pakistan. The multi-year collaboration will see the two companies boost financial inclusion among the country’s small businesses and freelancers. Pakistan is home to over 5.2 million MSMEs and a booming digital payments landscape. The introduction of the SME debit card tailored for freelancers and subsequent credit offerings will address the evolving needs of SadaPay’s diverse customer base. The partnership will also cover digital payment solutions, especially facilitating cross-border and ecommerce payments by debit cards. Furthermore, SadaPay will work with Mastercard Advisors, who will offer strategic insights as well as payments and technology expertise for a wide range of initiatives aimed at advancing the fintech company’s growth.

Additionally, it will cater to the requirements of rapidly growing market segments that have historically been overlooked, offering businesses and individuals new opportunities to engage with the global digital economy. PR

Austrian ambassador explores investment prospects in Pakistan, stresses positive perception

KARACHI: Ambassador of Austria to Pakistan and Afghanistan Andrea Wicke, joined by Hussain Islam, chairman of the Prime Minister's Task Force in the Strategic Reforms Unit, and Johannes Brunner, commercial counsellor of the Austrian Embassy Commercial Section, visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to engage with the Chamber's leadership and gain insights into Pakistan's economic landscape.During the meeting, OICCI CE/Secretary General M Abdul Aleem provided a comprehensive briefing to the Austrian delegation on Pakistan's business prospects, with a focus on attracting Foreign Direct Investment (FDI), ideally reaching three percent of its GDP. Notably, the total capital investment by OICCI members from FY 2013 to FY 2022 amounted to $22.0 billion, while Pakistan's net FDI stands at $19.9 billion. In the past year (JanDec), Pakistan attracted $1,771 million in FDI, marking a 25% increase from 2022. PR

Tuesday, 30 January, 2024

South Punjab’s JUSTICE TARIQ QUITS SC BENCH HEARING development PML-N’s APPEALS AGAINST MILITARY TRIALS VERDICT top priority, says

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six-judge bench of the Supreme Court which was due to take up a set of intra-court appeals (ICAs) against declaring the military trials of civilians as unconstitutional Monday was collapsed after Justice Sardar Tariq Masood recused himself from the bench.

On January 26, the apex court had constituted a six-member bench led by Justice Tariq Masood and comprising Justices Aminuddin Khan, Muhammad Ali Mazhar, Hasan Azhar Rizvi, Musarat Hilali and Irfan Saadat Khan for hearing the ICAs. After dissolution of the bench on Monday, the matter was again referred to the judges committee for formation of a new bench.

In its first hearing of the matter earlier, the six-member bench had conditionally suspended its prior decision to invalidate military trials for 103 civilians till a final judgment on the matter.

The SC stated that the ongoing military trials of the civilians, accused of involvement in attacks on army installations during the unrest following the arrest of former premier Imran Khan on May 9 last year, would carry on for now but the final decision would be sub-

ject to its final ruling.

The majority 5-1 verdict stemmed from a string of ICAs filed by the caretaker federal government and the interim provincial governments of Balochistan, Punjab and Khyber-Pakhtunkhwa challenging the previous unanimous ruling nullifying the military trials.

Last year on October 23, the apex court had declared the trials of civilians in the military courts as unconstitutional and held that 103 persons and others who

may be placed in connection with the events arising from May 9th and 10th May could be tried by criminal courts established under the ordinary or special law of the land.

The 25-page detailed judgment, written by Justice Muneeb Akhtar, had the majority decision of four judges. The bench was headed by former Justice Ijazul Ahsan and comprised of Justice Muneeb Akhtar, Justice Yahya Afridi, former Justice Mazahir Ali Akbar Naqvi

and Justice Ayesha A Malik.

The detailed judgment also included an additional 48-page note by Justice Ayesha Malik. Justice Ayesha held that the offences under the Official Secrets Act were triable before the ordinary criminal courts, which guarantees fair trial, due process and independence as mandated by the Constitution.

However, none of the 103 persons detained were reported for offences under the said Act. The applications were made under Section 549 of the Code of Criminal Procedure, 1898 (Cr.P.C.), for their delivery to military authorities.

On Dec 28, 2023, in a letter to the three-member Judges Committee of the Supreme Court, former Chief Justice Jawad S Khawaja objected to the bench headed by Justice Sardar Tariq Masood for hearing intra-court appeals against the decision to stop the trial of civilians in military courts.

He requested that a seven-member larger bench should be formed according to seniority, under the chairmanship of Chief Justice Qazi Faez Isa, to hear the appeals. He also claimed that he got the right to object to the bench as he was the petitioner in the main case, and that Justice Sardar Tariq Masood could not hear the case due to his earlier opinion on the matter.

PPP expresses reservations to ECP over election results system ISLAMABAD

Nawaz questions untimely resignation of Justice Ahsan LAHORE

STAFF REPORT

Former three-time prime minister and Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif on Monday asserted his innocence and questioned the integrity of judges who convicted him in 2017, stating that they have since left their positions.

Expressing pride in his service to the country, Sharif declared, “I am proud that I have served my brothers and sisters. If I had not done anything, you would not have loved me like this.” He maintained that the charges against him were baseless and reiterated that he was innocent when convicted. Drawing attention to the departure of the judges involved in his case, Sharif specifically referred to Justice (retd) Ijazul Ahsan, who recently resigned as a Supreme Court judge. Sharif asserted, “The judge who would become the Chief Justice of Pakistan in a few months’ time has also left.

Why did he leave? I think this is all very fishy.”

Justice Ahsan, who was appointed as a monitoring judge on Nawaz Sharif’s corruption cases, has now left the judiciary, leaving questions about the circumstances surrounding his untimely departure.

Sharif underscored that despite the legal battles, he stands vindicated before the people. He vowed to continue serving the nation and expressed a deep desire to fulfill the expectations of the public. “My heart wants to do everything for you that you expect from me. I tried sincerely before, and I will leave no stone unturned in the future too,” he declared.

Turning his attention to the current state of the country, Sharif criticised the rising cost of essential commodities. He reminisced about his tenure, stating, “When Nawaz Sharif was in power, there was peace in the homes, there was no sign of inflation, everything was cheap.” He lamented the current economic situation, highlighting the increase in the prices of basic items. Sharif posed a rhetorical question, asking who was responsible for the economic downturn and the inflationary pressures on the citizens. He pledged to bring back the ‘golden era’ of prosperity, promising to create employment opportunities for the youth and restore the honour of the green passport.

“If Nawaz Sharif had not been ousted from power, there would have been no jobless people. We have been left behind, and we have suffered a lot since then,” he asserted. Addressing the crowd, Sharif appealed for support for the PML-N, stating, “You have to support PML-N. We will help this country get back on its own feet, and it will become the most prosperous nation in the world.”

STAFF REPORT

The People’s Party has submitted its reservations with regard to the election results system in writing to the Election Commission of Pakistan (ECP). “We are bringing our serious objections to your notice with regard to the new system of election results, the EMS,” the letter read.

“The election commission had rejected the use of WhatsApp in the parliamentary committee session saying it would have Internet problems,” according to letter. “When the WhatsApp will face problem, the new App would likely to have more problems,” the PPP writes.

“The use of the EMS App will compromise transparency of the election,” PPP argued. “We demand the use of WhatsApp for

sending election results instead of the new application,” PPP said.

“The Presiding Officers sending election result to the ROs, should also send it to the candidate and election agents,” PPP suggests.

The party recommended for-

mation of WhatsApp groups, where polling complaints should also be shared. The PPP has expressed apprehension that the new election results system will be a repeat of the RTS imbroglio, which was used in 2018 election.

BNP-M’s Akhtar Mengal gets Supreme Court’s nod to contest Feb 8 elections ISLAMABAD STAFF REPORT

The Supreme Court on Monday allowed Balochistan National PartyMengal (BNP-M) President Sardar Akhtar Mengal to contest the February 8 general elections from Quetta’s constituency of NA- 264.

A three-member bench of the apex court headed by Chief Justice of Pakistan (CJP) Qazi Faez Isa threw out a plea filed against the acceptance of Mengal’s nomination papers by Yasir Ahmad — one of his contenders in the constituency — and gave a clean chit to the BNP-M chief to contest the upcoming polls.

Last month, Mengal’s nomination papers were rejected by a Returning Officer (RO) in Khuzdar in connection with his alleged offshore company. The BNP-M leader, however, termed the RO’s decision a “well-planned conspiracy.”

Meanwhile, the Mengal challenged the RO’s decision before the election tribunal.

On January 5, the Baloch leader secured relief from the election tribunal as his nomination papers were accepted for the

February 8 elections.

One of his contenders, meanwhile, challenged the election tribunal’s decision in this regard in the top court, which announced its verdict in favour of Mengal today.

Earlier, he had announced that his party would go to the “court of the masses” if the nomination papers were not accepted by the election tribunal.

On the other hand, the ECP is set to hold free, fair and peaceful general elections as per the schedule.

Almost 51% of the polling stations have been categorised “sensitive” by the ECP for the upcoming general elections on February 8.

Out of the total 90,675 polling

stations, according to the electoral authority, 46,065 have been categorised as sensitive and 18,437 as highly sensitive.

ECP sources said that the total number of sensitive and most sensitive polling stations in Punjab has reached 18,620, and these include 12,580 sensitive and 6,040 most sensitive, whereas as many as 32,324 of the total 50,944 polling stations in the largest province have been declared as normal.

The ECP on Friday issued the final polling scheme for the February 8 general elections, envisaging a total of 90,675 polling stations with 2,76,402 polling booths to be set up across the country for over 128 million voters.

A senior official conceded that over 150,000 fewer polling booths are being established than required under the law, which will make it almost impossible at various places for all present to vote if the turnout is high.

As per the scheme, in Punjab, 50,944 polling stations will be established for the general elections, followed by 19,006 in Sindh, 15,697 in Khyber Pakhtunkhwa and 5,028 in Balochistan.

PM Kakar assures free, fair, on time polls ISLAMABAD APP

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday said that no solid reason had yet come to the fore to justify a delay in the general elections, assuring that the government was committed to holding polls as freely and fairly as possible.

The prime minister, in an interview with a newly launched television channel (Aik News) said the candidates were canvassing and all the rumours would fall to rest by the evening of February 8 – the date for general elections in the country.

Regarding the usual complaints of rigging before or after the elections, he said that learning lessons from the past, the parliament needed to address all the flaws regarding the laws, administration, or the Election Commission.

He said the observers would monitor and local and international media would report on the activity, assuring that as per the stan-

dards in the region, the elections would by and large be free and fair.

He observed that the political parties were also involved in the poll rigging by making fake ID cards and casting the votes of deceased persons. He said voting time would be from 9 am to 5 pm on February 8 and everyone should use his constitutional right to vote to ensure a good turnout.

Emphasising the key focus on the improvement of the national economy, he said unfortunately no political party had yet come up with an agenda to boost the country’s economic health. He said all the electoral claims made by the parties including jobs, shelters, cheap electricity, food security, and others were directly related to a stable economy.

He said the political parties needed to come up with a plan for revenue generation and widen the tax net. Exemplifying a 91% tax-to-GDP ratio in the Scandinavian countries, he said Pakistan’s ratio stood at just 9%, adding that enhanced taxation would also make the

government accountable to the masses.

Responding to a question about his foreign visits, he recalled that soon after assuming the office, he attended the UN General Assembly session – “a forum which cannot be ignored” and later interactions in Europe where he had a stopover for plane refuelling. He also mentioned attending the BRI Forum in China, the ECO Summit, and the COP28 session where he got the opportunity to interact with world leaders and sign bilateral agreements.

He explained that the caretaker government had to play a role to run day-to-day affairs, including foreign policy matters. About the repatriation of illegal foreign nationals, he said Pakistan had expelled only those with no identity and record and that such individuals would be allowed to return after obtaining valid passports and visas.

Discussing social media, he called it a challenge that empowered individuals irrespective of their educational and mental capability and advocated for its regulation like

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Shehbaz Sharif RAJANPUR

STAFF REPORT

Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif on Monday assured the people of Rajanpur of the revival of development projects after coming into power.

Former three-time prime minister Nawaz Sharif, Maryam Nawaz, Hamza Shehbaz and other PML-N leaders are carrying out vigorous election campaigns across Punjab ahead of the general elections.

Shehbaz Sharif reached Rajanpur to address a public gathering in connection with the February 8 general elections on a helicopter. The development of South Punjab remains PML-N’s top priority, he added.

The former prime minister thanked the people of Pakistan for their continued support for Pakistan Muslim League-Nawaz.

Recalling the 2010 super floods, the PML-N president said he reached Rajanpur to oversee the relief work in the region being the then-chief minister. “Weather was not good so I reached Rajanpur in the vehicle, despite warnings from the authorities,” Sharif said.

PML-N government constructed Danish Schools in South Punjab and Basic Health Units so the people can get health services in the region.

PM Kakar bars ministers, officials from making foreign visits till Feb 8 polls ISLAMABAD

STAFF REPORT

Caretaker Prime Minister Anwaarul Haq Kakar on Monday withdrew permissions for foreign visits by federal ministers, advisers, and relevant officials until the completion of the election process.

In a notification, a copy of which is available with Dawn.com, the Cabinet Division said: “No leave for any foreign visit shall be granted till the completion of the election process and the assumption of office by the new government”. “I am directed to convey that the prime minister has been pleased to withdraw all permissions for foreign visits, official or private, granted to the federal ministers, advisors and special assistants to the PM, and all federal officers with immediate effect,” it stated.

“All federal secretaries are requested to ensure compliance of the directions,” the notification, issued by the cabinet senior joint secretary, added.

The directive comes less than two weeks ahead of the forthcoming general elections. The incumbent interim setup is in its final days before transitioning authority to the incoming government after the Feb 8 polls.

Earlier this month, the caretaker federal cabinet had approved the deployment of the Pakistan Army and civil armed forces for the peaceful holding of the elections. PM Kakar had also constituted a sevenmember committee for the smooth conduct of the elections as well as overseeing their security arrangements. A day ago, the premier had said the general election on February 8 would bring political stability to the country. The prime minister, in an interview with a private television channel, had said that the new government would work to achieve political and economic stability.

He had added that his government successfully achieved most of the targets set by it and a white paper would be issued to enlist those successes.

‘Fake Cases’: PTI spokesperson demands immediate release of Khan, Qureshi ISLAMABAD

STAFF REPORT

Pakistan Tehreek-e-Insaf (PTI) on Monday demanded that the ongoing proceedings of unconstitutional trial in the false and fabricated cypher case should be annulled instantly and PTI Chairman-for-life Imran Khan and PTI Vice Chairman Shah Mehmood Qureshi should be released forthwith.

PTI Spokesperson stressed the need for an immediate halt on the ongoing malicious and nefarious process of targeting former Prime Minister Imran Khan and former foreign minister Shah Mehmood Qureshi through an unfair and unjust trial in the baseless and false cipher case. He said that the cipher was a fabricated and baseless case in every aspect, which was just being used to subject against PTI founding Chairman Imran Khan and Qureshi for political vendetta.

the mainstream media. He said the criticism of the caretaker government for doing things beyond the mandate was not genuine as all

of its actions were legitimate and vetted by the Law Division besides the backing of cabinet’s approval.

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

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