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terrorists APEX BODY LAUDS ‘WHOLE OF GOVT APPROACH’ 24 neutralized in Mach, Kolpur operations in TO REALISE SIFC’S ENVISIONED DIVIDENDS Saturday, 3 February, 2024 I 22 Rajab, 1445
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COAS ASSURES ARMY WILL SUPPORT INITIATIVES FOR COUNTRY’S ECONOMIC STABILITY AND SOCIO ECONOMIC WELL-BEING OF PEOPLE
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Rs 15.00 | Vol XIV No 216 I 8 Pages I Islamabad Edition
COMMITTEE REVIEWS PROGRESS AND LAUDS CONTRIBUTION FOR IMPROVING MACRO AND MICRO-ECONOMIC CONDITIONS OF COUNTRY
STAFF REPORT
HE Apex Committee of the Special Investment Facilitation Council (SIFC) on Friday showed profound satisfaction over the overall progress of the SIFC and appreciated ‘Whole of Government Approach’ in realising the envisioned dividends. The 9th meeting of the SIFC Apex Committee met under the chair of Caretaker Prime Minister Anwaar-ulHaq Kakar which reviewed various initiatives being steered through the forum. The meeting was attended by the Chief of Army Staff, federal cabinet, provincial chief ministers and high-level government officials. The ministries presented progress on the projects and policy initiatives, and gave plans for subsequent endeavours to attract the investment. The Apex Committee reviewed progress on various measures and appreciated the contribution made for improving macro and micro-economic conditions of the country. The body commended the steps taken to build a sustainable ecosystem for nurturing latent potential and attracting investments, with special emphasis on the cross sectoral policy interventions, human resource development, infrastructural uplift and strengthening of domestic dispute resolution mechanism. The Committee reviewed and appreciated the progress on the level of economic engagements with
Court reserves verdict on ‘unlawful’ marriage case against Imran, Bushra RAWALPINDI
STAFF REPORT
The trial court on Friday night reserved verdict on the ‘un-Islamic’ marriage case against Pakistan Tehreeke-Insaf (PTI) founder Imran Khan and his wife Bushra Bibi after concluding the 14-hour-long hearing. Senior Civil Judge Qudratullah presided over the proceedings in Adiala Jail and reserved the verdict, which will be announced on Saturday (tomorrow) at 1pm. The case, filed by Bushra Bibi’s first husband, Khawar Maneka, alleges that Bushra violated the Islamic practice of observing the mandatory pause, or Iddat, between two marriages. Furthermore, Maneka accused his ex-wife and Khan of having an adulterous relationship before their marriage. The cross-examination of the four prosecution witnesses, including Maneka, Aun Chaudhry, Nikah Khawan Mufti Saeed, and Maneka’s employee Latif, was completed. The defence was led by Advocate Salman Akram Raja for Khan and Advocate Osman Riaz Gul for Bushra. Khan and Bushra submitted a joint statement of 342, answering 13 questions. In her statement, Bushra declared the divorce certificate of November 14, 2017, as fabricated, claiming she completed her mandatory iddat period from April to August 2017 after receiving a verbal triple talaq from Maneka in April 2017. The court rejected the defence’s request to produce additional witnesses. A plea of acquittal under Section 249-A and jurisdictional pleas under Section 179 were also rejected. During yesterday’s hearing, Maneka made serious accusations against Khan, claiming the illicit relationship began during the 2014 sit-in and accusing Khan of ruining his family. Tensions escalated, leading to a courtroom quarrel where physical threats were allegedly made. Khan challenged Maneka to take an oath on the Holy Quran. In a dramatic turn of events, Maneka spoke to reporters, revealing the impact on his family, stating that one daughter faced divorce, and one son entered a rehabilitation center due to the alleged affair. Bushra Bibi, speaking for the first time in Adiala Jail, portrayed herself as a victim of a plot to humiliate her. She vowed not to succumb to pressure, labeled the accusations as an attempt to weaken Khan and the PTI, and emphasised her determination to stand firm.
friendly countries and underscored the need to efficiently realise investment commitments into economic dividends. The Apex body also accorded in-principle approval for Strategic Canals Vision 2030 and FBR Reforms. The Chief of the Army Staff assured firm resolve of the Pakistan Army to support the government’s initiatives for the economic stability of the country and the socioeconomic well-being of its people. In the end, the prime
minister appreciated the role of SIFC, ministries, departments and affiliated stakeholders in accomplishing the major economic milestones as part of the interim government and setting the pace for future endeavours. He also urged the incoming government to ensure continuity of economic policies by capitalising on the positive momentum, established by SIFC, in the larger interest of the country.
Imran, Bushra misused PM’s office: Toshakhana verdict ISLAMABAD
STAFF REPORT
The Accountability Court (AC) of Islamabad said on Friday that PakTehreek-e-Insaf (PTI) istan founder Imran Khan and his wife Bushra Bibi misused the position and power vested in the office of the prime minister obtained monetary gain and caused a loss to the national exchequer. Accountability court Judge Muhammad Bashir issued a 44page detailed judgment, regarding the 14 years imprisonment sentence to Imran and Bibi in the Toshakhana case. The judgment said that the two accused fraudulently misappropriated public property for personal gain. “It is proved beyond any reasonable doubt that both the accused persons in connivance with each other by way of illegal means, misusing the position and power vested in the Office of the Prime Minister obtained monetary gain amounting to Rs.1573.72 million,” read the judgment. [The two accused] caused a loss to the National Exchequer, and fraudulently misappropriated public property for personal gain and violated the Procedure For the Acceptance and Disposal of Gifts, 2018 read with the Rules of Business 1973,” it added. “Thus, both the accused namely Imran Ahmed Khan Niazi and Bushra Imran are hereby convicted and sentenced to Fourteen (14) years rigors imprisonment each with fine of Rs. 787 million each under the offences define u/s 9(a)(iii)(iv)(vi) & (xii) of the NAO, 1999 and punishable u/s 10 of the NAO, 1999 and also under Sr. No. 2 of the schedule thereto. The fine is recoverable as arrears of land.” The judge had convicted Imran
and Bibi in the Toshakhana case on Wednesday. In the detailed judgment, the court said that they received a total of 108 gifts from abroad, including a graff jewellery set which they had bought just for Rs9 million, while its actual worth was much higher. The ruling further said that the court testified a total of 16 witnesses during the trial and the prosecution presented solid evidence. “The accumulative effect of all the evidence produced against the accused is that the prosecution has succeeded to prove the case beyond any reasonable doubts.” According to the judgment, the two accused used influence on the private expert to determine the gift’s value. According to Sohaib Abbasi, who determined the value of the gift, he estimated the value lower on the instruction of the PTI’s founder, the verdict continued. The National Accountability Bureau (NAB) had served five notices to Bibi and Imran and asked them to come with the graff jewellery set to determine the price but both of them did not bring the gift. The accused did not even give the
information about the gifts. The verdict said that NAB contacted Imran Bashir, a Dubai-based expert on jewellery and antiquities, who estimated the price of the set from various dealers. He reported that the value of jewellery set was Rs3.160 billion. The judgment further said that it was proved that the price of jewellery set was much higher than the estimate got from a private person. It was proved that Bibi received the jewellery set but she did not submit it to the Toshakhana. It added that the attitude of the PTI founder during trial was also very inappropriate. The accused had been changing defence lawyers repeatedly and they were not even willing to cross-examine the witnesses. The defence lawyers were aware about the hearing date but they did not arrive in the court. The verdict said that the court shared a questionnaire with the accused and they were given enough time to reply but PTI’s founder but he did not answer. Bibi recorded her statement but the PTI founder used delaying tactics, it added.
past three days: ISPR RAWALPINDI
STAFF REPORT
Twenty-four terrorists were killed during firefights and clearance operations in the Mach and Kolpur towns of Balochistan in the past three days, the military’s media affairs wing said on Friday. According to a statement issued by the Inter-Services Public Relations (ISPR) on Friday, terrorists attacked Mach and Kolpur complexes in Balochistan on the night of January 29 and 30. “Law enforcement agencies deputed on security offered stiff resistance and forced the attackers to repulse. These terrorists were then hunted down in the ensuing sanitisation and clearance operations which have now been concluded after clearing and securing the area,” the ISPR said. “During the firefights and sanitisation/clearance operations, in the last three days, 24 terrorists have been sent to hell,” the army’s media wing said. It identified Shehzad Baloch, Attaullah, Salah Uddin, Abdul Wadood and Zeeshan as “key terrorists” among the dead. The ISPR said the identification process of remaining terrorists was in process. During the intense exchange of fire, “four brave members of law enforcement agencies, having fought gallantly, embraced martyrdom” along with two innocent civilians, it added. “Effective response by law enforcement agencies is a testament to their unrelenting resolve in the fight against terrorism,” the ISPR said, adding that Pakistan’s security forces stood “shoulder to shoulder” with other LEAs to ensure peace and stability in the country,” the ISPR statement said. On Monday night, security forces had thwarted three “coordinated attacks” launched by terrorists using rockets and sophisticated weapons in Mach. The terrorists also targeted a hotel and six shops in the Kolpur area and set them on fire. Interim Balochistan Information Minister Jan Achakzai had initially attributed the attack to terrorists affiliated with the Aslam Acho group. However, responsibility was later claimed by the Majeed Brigade of the proscribed Balochistan Liberation Army (BLA). Security forces immediately responded to the attack and took up positions. The gun battle between terrorists and security forces had continued for several hours. Pakistan has recently witnessed a sharp surge in terror activities, especially in Khyber Pakhtunkhwa and Balochistan. According to an annual security report issued by the Centre for Research and Security Studies, Pakistan witnessed 1,524 violence-related fatalities and 1,463 injuries from 789 terror attacks and counter-terror operations in 2023 — marking a record six-year high. KP and Balochistan were the primary centres of violence, accounting for over 90 per cent of all fatalities and 84pc of attacks, including incidents of terrorism and security forces operations.
FIA summons Aleema Khan for ‘spreading fear and panic’ ISLAMABAD
STAFF REPORT
Federal Investigation Agency (FIA) has initiated a cybercrime inquiry against Aleema Khan, the sister of Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan, for allegedly spreading “fear and panic” in society. According to details, the inquiry was initiated at the behest of the state and a notice has also been served to Aleema in this regard. The notice directed Aleema to appear at the FIA Cybercrime Reporting Centre on Saturday at 11am to provide clarification. If Aleema fails to appear, the FIA will interpret her absence as an indication that she has no statements to offer in her defence. Earlier, the FIA cybercrime wing had summoned 65 people, including various journalists and social media activists, for allegedly running a malicious campaign targeting judges and institutions. According to details, the FIA had been fully mobilised against running negative campaigns containing insulting and wrong information against the chief justice, senior judges and state institutions on social media. In addition, 115 inquiries have been officially registered and notices have been issued to 65 people. Forty-seven celebrities of the media and social media were also included in the people to whom notices have been sent.
China, Pakistan discuss situation in Afghanistan, regional collaboration ISLAMABAD
MIAN ABRAR
China’s senior diplomat and special envoy on Afghanistan Ambassador Yue Xiaonyou called on Foreign Secretary Syrus Qazi on Friday and discussed matters of mutual interest. Additional Foreign Secretary (Afghanistan and West Asia) Ambassador Rahim Hayat Qureshi and other officials were also present during the meeting. The meeting comes on heels of China’s official acceptance of credentials of Bilal Karimi, the Taliban-appointed ambassador to China. The move has trigged a debate in diplomatic circles as eyebrows were raised with diplomats arguing as if China had officially taken a step towards accepting Taliban regime in Kabul. In the backdrop of the development, China’s special envoy on Afghanistan, Ambassador Yue Xiaonyou, arrived Islamabad and remained engaged with Foreign Office on matters of mutual interest. China’s move to accepting the credentials of Taliban Ambassador is in contrast with the
conditions set by the United Nations and the western world led by the United States of America who have legitimate concerns against the Afghan Taliban’s commitment on major UN conventions especially treatment of women, minorities and women education. However, the recent moves by the US suggest that the western countries are also softening their respective stance against the Afghan Taliban and a middle way is being sought to sort out matters with Afghan regime. In this regard, the sources say, India was playing a key role in helping the Afghan Taliban to be recognised as legitimate rules of Afghanistan but certain impediments were a major hurdle in this regard. A joint statement issued by the foreign office highlighted the commitment of both nations to a peaceful and stable Afghanistan, emphasising the necessity of enhanced coordination for regional stability. While the statement did not delve further into specifics, officials privy to the development said that Islamabad was concerned about China’s move at a time when Islamabad and Kabul are not on the same page on
various regional issues. The sources said that Pakistan is sceptic about China’s unilateral decision to accept the credentials of Afghan Taliban Ambassador without regional consensus on many issues as this decision reflected that perhaps Beijing was poised to officially accept Afghan Taliban as legitimate regime in Afghanistan. The sources said that China has long been concerned on the presence of terrorists belonging to defunct East Turkestan Islamic Movement (ETIM) on Afghan soil and China has been encouraging the Kabul regime to take action against ETIM which was a threat to China. On the other hand, there are reports that Taliban have relocated remnants of the ETIM from Badakhashan to Baghlan province, prompting China to remain vigilant about potential security threats emanating from Afghanistan. Recent media reports suggest that the United States has been mulling ways and means to reopen its consulate in Kabul but first Kabul would have to remove certain impediments in this regard.
The United State believes that the Afghan Taliban need to fulfill international commitments by forming an inclusive government and ensuring other commitment on human rights and minority rights besides women rights. While the world is sorting out matters
with Kabul, Pakistan has adopted a hard stance with Kabul asking the Taliban to take action against Tehreek-e-Taliban (TTP)and other terrorists and make sure that Afghan soil is not used against Pakistan – but Taliban remain reluctant to fulfill these demands.
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DISCOS CONTRIBUTE TO RS396BN SURGE IN CIRCULAR DEBT DURING FY 2022-23 newS
Concerns about potential billing manipulation highlight need for transparent billing and collection practices
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ISLAMABAD
AhMAD AhMADANi
OOR governance in power distribution companies (DISCOs), characterized by inefficiency, has resulted in an increase of Rs 396 billion in circular debt during the fiscal year 2022-23. The high losses have added Rs 160 billion whereas less recovery of electricity bills added Rs 236 billion to circular debt during the financial year 2022-23. The power regulator has also recommended a forensic audit to hold staff accountable, ensuring transparency and efficiency in the distribution network. According to Industry Report 2022-23
released by National Electric Power Regulatory Authority (NEPRA), the power regulator said that most Distribution Companies (DISCOs) failed to meet Transmission and Distribution (T&D) loss targets, leading to a significant burden on Circular Debt. PESCO, TESCO, and SEPCO are among the entities with notable losses, contributing to an additional Rs. 160.49 billion in Circular Debt. According to Nepra report, PESCO contributed Rs 77.35 billion to the Circular Debt PESCO contributed Rs. 77.3 Billion loss, LESCO Rs 21.9 billion, MEPCO Rs 7.9 billion, Hesco Rs 15 billion, Sepco Rs 20.38 billion, Qesco Rs 21.21 billion. CIRCULAR DEBT REACHES RS. 2.31 TRILLION
As of June 30, 2023, power regulator said that circular debt surged to Rs. 2.309 trillion from Rs. 2.252 trillion in FY 202122. Current defaulters owe around Rs. 900.821 billion, posing a significant challenge. The government needs to address this by ensuring timely subsidy payments and exploring innovative solutions to minimize losses,” power regulator said. Less Recoveries Contribute to Rs. 236 Billion Additional Burden The recovery rate in FY 2022-23 stood at 92.4%, resulting in an additional Rs. 236 billion added to the Circular Debt. The power regulator said that government, as the owner of DISCOs, should consider outsourcing recovery tasks and focus on addressing inefficiencies to
curb Circular Debt accumulation. Mounting Receivables and Transparency Concerns Receivables for DISCOs rose to approximately Rs. 1,727,104 million in FY 2022-23. Concerns about potential billing manipulation highlight the need for transparent billing and collection practices. The regulator recommended that committees with independent professionals should be established to ensure accurate receivables. LOAD-SHEDDING BASED ON AT&C LOSSES CONDEMNED The power regulator also condemns load-shedding based on AT&C losses and urges DISCOs to focus on resolving inefficiencies rather than resorting to arbitrary reductions. The power regulator has also recommended a forensic audit to hold staff accountable, ensuring transparency and
PROFIT
The local mobile manufacturing companies have produced 84.4 million mobile devices reflecting the industry’s phenomenal growth that created thousands of jobs in the last five years. According to the annual report of the Pakistan Telecommunication Authority (PTA), 25 million smartphones were among the total devices produced from
January 2019 to September 2023. The PTA report said 33 local and foreign companies locally established manufacturing plants under the Mobile Device Manufacturing (MDM) Regulations introduced in 2021. These companies, operating both as standalone entities and through joint ventures, obtained a 10-year MDM authorisation. The country also initiated the export of locally manufactured handsets, with
Oil sales decline 13% in 7MFY2023-24 PRPFIT
News Desk
Oil sales in Pakistan declined by 13% to 9.07 million tonnes during the first seven months (July-Jan) FY2023-24, as compared to 10.47 million tonnes in the corresponding period of the last fiscal year. Industry data revealed that lower demand for furnace oil and transport fuels contributed to this downturn. The drop in petroleum product sales was predominantly influenced by a 53% decline in furnace oil sales, attributed to reduced demand from power plants for electricity generation. Data indicated a 7% decrease in petrol sales to 4.18 million tons in July-Jan of the current fiscal year, compared to 4.48 million tonnes in the same period last year. Similarly, high-speed diesel (HSD) sales also declined 7% to 3.67 million tonnes compared to 3.95 million tonnes in the corresponding months of the previous financial year. In January, petroleum product sales saw a negative growth of 4%, settling at 1.38 million tonnes. However, furnace oil sales marked a 28% year-on-year growth in January,
120,000 SEEGO brand mobiles labeled as ‘Manufactured in Pakistan’ exported to the African market in December 2022. The Device Identification Registration and Blocking System (DIRBS), introduced by the PTA, has provided a level playing field for foreign investments in the mobile device manufacturing industry in Pakistan. In addition to promoting local manufacturing, DIRBS has been a source of revenue generation for the government,
The Sensitive Price Indicator (SPI) recorded a slight decline of 0.28% in the inflation rate for the week ending on February 01, 2024. The SPI, which measures the weekly changes in the prices of 51 essential items across 17 cities, increased by 39.45% year-on-year compared to the same period last year. According to the latest data released by the Bureau of Statistics (PBS), the major contributors to the SPI decrease
collecting Rs 48.8 billion in Customs duties in the individual category from January 15, 2019, to October 25, 2023. This revenue stream remained untapped before the implementation of DIRBS. Leveraging this system, PTA has blocked 758,113 International Mobile Equipment Identities (IMEIs) reported as stolen. DIRBS has also identified and blocked 35.5 million non-compliant IMEIs, including 7.3 million duplicate or cloned IMEI numbers.
SBP injects Rs 8.93trn into market through OMOs g
Rs8.66t was injected through reverse repo, Rs273b through Shariah-compliant OMO PROFIT
News Desk
The State Bank of Pakistan (SBP) on Friday injected a total of Rs 8.93 trillion into the market through reverse repo and Shariah-compliant Open Market Operations (OMOs). The OMOs were aimed at providing liquidity support to the banking system and maintaining the policy rate at 22%. The conventional OMO included three tenors: 7-day, 14-day, and 28day, with rates ranging from 22.05% to 22.10%. The SBP accepted all 43 quotes by the participants, offered
indicating a strong demand for liquidity in the market. The 28-day tenor attracted the most interest, with 31 quotes offered and accepted, Rs 8.5 trillion. totaling Cumulatively, Rs 8.66 trillion were injected through reverse repo OMO.
Weekly inflation drops by 0.28% were tomatoes, eggs, onions, LPG, tea lipton, potatoes, pulse masoor, cooking oil and mustard oil, which saw their prices fall by 18.28%, 7.77%, 6.99%, 1.53%, 1.29%, 1.25%, 0.80%, 0.36% and 0.28% respectively. However, not all items witnessed a downward trend, as some commodities registered an increase in their prices. The most notable ones were petrol, chicken, diesel, energy saver, bananas, salt powdered, pulse moong, mutton, gur,
beef, tea prepared and georgette, which experienced a price hike of 5.20%, 1.88%, 0.95%, 0.70%, 0.68%, 0.55%, 0.34%, 0.33%, 0.21%, 0.15%, 0.14% and 0.10% respectively. Out of the 51 items in the SPI basket, 12 (23.53%) showed an increase, 17 (33.33%) showed a decrease and 22 (43.14%) remained unchanged in their prices during the week. The year-on-year comparison of the SPI revealed a sharp increase of 39.45%, mainly driven by the soaring prices of gas
The Shariah-compliant OMO was based on Mudarabah principle and received bids for two tenors: 7-day and 14-day, with rates ranging from 22.07% to 22.12%. The SBP also accepted all the quotes offered by the participants, totaling Rs 273 billion. However, there were no bids received for the 28day tenor. The OMOs were part of the SBP’s regular monetary operations to manage the money supply and interest rates in the economy. The SBP has been conducting OMOs frequently in recent months, as the economy faces challenges rising inflation, and external pressures.
charges for Q1, cigarettes, tomatoes, chilies powder, wheat flour, gents sponge chappal, sugar, gents sandal, gur, salt powdered, rice IRRI-6/9 and pulse mash, which rose by 1108.59%, 92.30%, 90.40%, 81.74%, 61.97%, 58.05%, 54.79%, 53.37%, 51.67%, 40.97%, 38.79% and 37.38% respectively. On the other hand, some items recorded a decrease in their prices on a yearly basis, such as onions, mustard oil, bananas, vegetable ghee 1 KG, LPG and vegetable ghee 2.5 KG, which fell by 15.10%, 10.86%, 10.15%, 3.58%, 1.63% and 0.80% respectively.
Pakistan seals plan to sell PIA ahead of polls g
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33 local and foreign companies established plants in Pakistan MoNitoRiNg Desk
Our job is 98% done and remaining 2% is just to bring it on an excel sheet after cabinet approves it, says Privatisation Minister PROFIT
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Ahead of elections next week, Pakistan’s caretaker administration is making binding plans for a new government to sell loss-making Pakistan International Airlines, Reuters reported, quoting the minister incharge of the privatisation process and other officials. In the past, elected governments have shied away from undertaking unpopular reforms, including the sale of the flag carrier. But Pakistan, in deep economic crisis, agreed in June to overhaul loss-making state-owned enterprises under a deal with the International Monetary Fund (IMF) for a $3 billion bailout. The government decided to privatise PIA just weeks after signing the IMF agreement. The caretaker administration, which took office in August to oversee the February 8 election, was empowered by the outgoing parliament to take any steps needed to meet the budgetary targets agreed with the IMF. “Our job is 98% done,” Privatisation Minister Fawad Hasan Fawad told Reuters when asked about the
plan to sell the airline. “The remaining 2% is just to bring it on an excel sheet after the cabinet approves it.” Fawad said the plan, drawn up by transaction adviser Ernst & Young, will be presented to the cabinet for approval before the tenure of the administration ends following the election. The cabinet will also decide whether to sell the stake by tender or through a government-to-government deal, Fawad said. “What we have done in just four months is what past governments have been trying to do for over a decade,” Fawad said. “There is no looking back.” Details of the privatisation process have not been previously reported. PIA had liabilities of Rs 785 billion ($2.81 billion) and accumulated losses of Rs 713 billion as of June last year. Its CEO has said losses in 2023 were likely to be Rs 112 billion. Progress on the privatisation will be a key issue if the incoming government goes back to the IMF once the current bailout programme expires in March. Caretaker Finance Minister Shamshad Akhtar told reporters last year that Pakistan would have to remain in IMF programmes after the expiry.
efficiency in the distribution network. PENDING CONNECTIONS IMPACT GRID INTEGRATION DISCOs failed to provide new connections as per PSDR 2005, leading to a substantial backlog of connections. Accountability measures, including penalties for negligence and rewards for exemplary performance, are necessary to address this issue. SAFETY CONCERNS LEAD TO FINES AND INVESTIGATIONS In FY 2022-23, 163 fatalities were reported in DISCOs. Comprehensive investigations resulted in fines, compensation to bereaved families, and directives for safety improvements. Grounding of poles/structures and a focus on safety are essential to prevent accidents. PRIVATE SECTOR INVOLVEMENT RECOMMENDED To address challenges in DISCOs, the power regulator has recommended to involve the private sector. Governance issues and inefficiencies contribute to the circular debt, and concerted efforts are needed to improve DISCOs’ performance. INVESTMENT AND ADVANCED METERING INFRASTRUCTURE (AMI) INITIATIVES
The Authority has sanctioned a fiveyear investment plan of Rs. 375 billion for IESCO, LESCO, and FESCO.
Govt to ban state-level wheat import to keep prices stable
Local mobile makers produce 84.4m devices in five years g
Saturday, 3 February, 2024 | ISLAMABAD
Two sources close to the process told Reuters that a 51% stake with full management control would be offered to buyers after parking the airline’s debts in a separate entity, under the 1,100 page report from Ernst & Young. Reuters could not independently confirm the contents of the report. Fawad did not give specific details of the size of the stake to be sold, but confirmed the plan involved the carrier’s debts being spun off into a separate entity. Ernst & Young did not respond to requests for comment. PIA spokesman Abdullah Hafeez Khan said the airline was assisting the privatisation process, extending “full cooperation” to the transaction adviser. FAST-TRACKED Besides operational and technical measures for PIA’s divestment, the caretaker government has also amended a 2016 law that had blocked selling off its majority shares, according to a draft posted on the Pakistan parliament’s website. The Pakistan Muslim League-Nawaz party of former Prime Minister Nawaz Sharif is tipped by analysts to win the election with support from the powerful military. Its main political rival has been
Pakistan claims a significant surplus of wheat, ensuring a robust supply chain to meet local needs PROFIT
News Desk
The caretaker government has decided to ban state-level wheat imports to stabilize flour prices and abundant domestic reserves. The Economic Coordination Committee (ECC) took the decision to ban the state-level import of wheat as the flour prices in Pakistan are stable and the country has enough reserves. The committee concluded that the existing reserves within the country are more than sufficient to meet the national demand, prompting the decision to curtail state-level imports. Insiders within the government revealed that Pakistan boasts a significant surplus of wheat, ensuring a robust supply chain to meet the needs of the populace. This decision follows a comprehensive briefing by the Ministry of National Food Security to the ECC, highlighting the country’s current wheat supply situation. The ECC commended the proactive measures taken by the ministry to address potential concerns. The decision came after the Ministry of National Food Security briefed the ECC on wheat supply whereas the committee applauded the measures taken by the ministry in this regard.
PSX bulls eye economic improvements for further gains PROFIT
News Desk
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) gained 609.18 points, equivalent to 0.98%, closing the market at the 63,002.91 level on Friday. Peaks prevailed over dips during intraday trading, particularly in the afternoon. Even yesterday, investors near the day close preferred selecting the bestperforming securities in the market. “Value hunters opted to do some cherry picking which helped the benchmark index to close the day at 62,394”, said Topline Securities on Thursday. The recent positive momentum of the country’s economy is also an encouraging sign for investors. “Pakistan’s trade deficit clocked in at $1.9 billion down 25%YoY while up 7% MoM in Jan-2024, as per PBS data. Exports up 25% YoY whole down 1% MoM to $2.8bn. However, imports down 2% YoY while up 2% MoM to $4.7bn in Jan 2024. In 7MFY24, trade deficit down 33% YoY to $13.1bn vs $19.5bn in 7MFY23.” said Topline Securities.
decimated by the arrest of its leader Imran Khan and a crackdown on its members. Sharif’s close aide Ishaq Dar, who has been his finance minister previously and has been named by the party to retain the portfolio if it forms the next government, told Reuters that the sale of PIA will be fast-tracked. “It will, God willing, move ahead with fast speed,” he said. In a report in mid-January, the IMF expressed satisfaction over the measures initiated by the caretaker government to accelerate reforms of state-owned enterprises, specifically mentioning the amendment of the PIA privatisation law. Under the privatisation plan submitted by Ernst & Young to the government on December 27, governmentguaranteed legacy debt and payables – which are held by a consortium of seven domestic banks – will be parked in a holding company, Fawad and two sources involved in the process said. Fawad said the government and the consortium had an agreement in place regarding the settlement of the legacy debt, which includes negative equity of Rs 825 billion in loans, creditors’ money and the losses. He provided no further details. The sources had earlier said the banks wanted a five-year bond issued against the debt with a 16.5% coupon on the paper, while the finance ministry was offering only 10%. The banks have not commented on the deal. Besides its losses and debt, PIA’s governance and safety standards have been questioned by global aviation authorities for some years.
Saturday, 3 February, 2024 | ISLAMABAD
GOVT TO BORROW RS3.2TRN TO FILL FISCAL GAP
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Primary means of borrowing will involve fixed and floating-rate PIB with varying maturities ranging from three to 30 years PROFIT
News Desk
The government is set to borrow Rs3.175 trillion from banks through treasury bills and bonds over the next three months (FebApril), aiming to bridge the fiscal deficit, according to an auction calendar issued by
the State Bank of Pakistan (SBP). The primary means of borrowing will involve fixed and floating-rate Pakistan Investment Bonds (PIBs) with varying maturities ranging from three to 30 years. As per the auction calendar, the government plans to raise Rs1.645 trillion through long-term paper auctions.
Commercial banks are expected to contribute Rs1.530 trillion through market treasury bills during this period. The government’s reliance on bank borrowings has intensified due to a widening budget deficit, increased markup payments on domestic debt, and elevated interest rates. In addition to bank borrowings, the
government utilises the Pakistan Stock Exchange (PSX) to conduct local currency Sukuk auctions as part of its funding strategy. The introduction of Shariahcompliant securities aims to broaden the pool of potential investors. Additionally, the government anticipates relief on domestic borrowings with the possibility of securing foreign assistance from friendly countries. akistan’s budget deficit reached Rs2.4 trillion or 2.3 percent of the GDP in the first half of fiscal year 2024, up from Rs1.7
Single Sales Tax Portal introduced for telecom sector NEWS DESK stAff rpoprt
The Federal Board of Revenue (FBR) has initiated a single sales tax return for the telecom sector, applicable for the tax period of January 2024, to be filed in February 2024 via the Single Sales Tax Portal. This move is in line with the government’s objective to facilitate taxpayers, promote ease of doing business, and reduce compliance costs. As of January 2024, telecom companies are instructed to use the newly introduced Single Sales Tax Portal for filing their sales tax returns as the previous sales tax return method would no longer be available. The FBR has enabled the uploading of sales tax invoices for January 2024, streamlining the process of filing a single return through the designated portal. This initiative is part of the FBR’s commitment to
PEF announces increase in monthly fees for partner schools LAHORE
stAff report
The 86th meeting of the Board of Directors at the Punjab Education Foundation (PEF) took place at the head office under the chairmanship of Dr Saeed Shafqat. The Managing Director of Punjab Education Foundation Shahid Fareed presented the agenda for board approval during the meeting. Shahid Fareed informed the board members that since 2015, PEF did not increase the monthly fees for its partner schools. However, due to economic reasons and inflation, it has become imperative to revise the monthly fees received partner schools from PEF on behalf of the students. The Board promptly approved the increase in monthly fees for PEF partner schools. PEF administration will now disburse Rs.650 per student per month for students in nursery to Class 2, Rs. 700 for Class 3 to 5 and Rs. 800 for Class 6 to 8 to the partner schools. The meeting also addressed other crucial agendas, including the presence of key stakeholders and board members. Secretary Literacy and Non-Formal Basic Education Syed Haider Iqbal, along with board members Asma Waziri (Education Specialist), Basit Khan (Technocrat), and Saba Adil (Additional Secretary ER) from the School Education Department, Prof. Ayaz Khan, Dean of the University of Education, Muhammad Abid Razzaq (Senior Chief) from the Planning and Development Department and Arshad Dogar (Section OfficerEducation) from the Finance Department attended the meeting.
simplifying tax procedures, minimising errors, and providing a centralised platform for accessing relevant tax information.
The Single Sales Tax Portal, accessible at www.iris.fbr.gov.pk, allows sales tax registered individuals in the telecom sector to file a unified sales tax return, eliminating the need for separate submissions to the FBR and Provincial Sales Tax Authorities. Initially launched for the telecom sector, including companies such as M/S CMPak Limited, M/S Pakistan Mobile Communications Limited, M/S Pak Telecom Mobile Limited, M/S Telenor Pakistan (Pvt.) Limited, and M/S Pakistan Telecommunication Company, the single sales tax return is applicable for the tax period of January 2024, with filing scheduled for February 2024. To facilitate a smooth transition, the FBR has directed telecom sector entities to familiarise themselves with the new system, emphasizing that the uploading of sales tax invoices for January 2024 has been enabled.
Senate committee approves ban on raw mineral exports PROFIT
News Desk
The Senate panel endorsed a ban on the export of both metallic and non-metallic minerals, including raw pink salt. The approved Private Members Bill, presented by PTI Senators Zeeshan Khanzada, Senator Faisal Saleem Rehman, and Senator Abdul Qadir, received majority approval of 5:1. Senator Nuzhat Sadiq proposed further deliberations, while Senator Palwasha Muhammad Zai Khan from PPPP supported the bill. The bill prohibits the export of raw minerals, encompassing granite and marble, excluding those governed by G2G (Government-to-Government) pacts under the Special Investment Facilitation Council (SIFC) framework. The Commerce Ministry, represented by Additional Secretary Syed Hamid Ali, did not back the bill, asserting that existing regulations already empower the government to impose bans on specific items under the Imports and Exports (Control) Act, 1950. The approved bill outlines that the Federal Government can restrict the export of raw minerals, emphasizing the establishment of refineries in Pakistan and prescribing value additions for end products. The Commerce Ministry contends that such a decision could convey a negative message to investors,
including those like M/s Barrick Gold, who have invested in the country. Commerce Ministry’s written response suggested dealing with the matter in Export Promotion Ordinance (EPO) rather than amending the Imports and Exports (Control) Act, 1950. The ministry argued that the Act already grants authority to the Federal Government to regulate trade. During the session, the committee also discussed the Private Members’ Imports and Exports (Control) Amendment Bill, 2023, with Deputy Chairman Senator Mirza Muhammad Khan Afridi expressing appreciation for the emphasis on value addition in exports. The committee acknowledged the timeconsuming nature of the process but highlighted its long-term benefits.
Pakistan’s exports reach 17-month high in January, trade deficit shrinks PROFIT
News Desk
Merchandise exports in Pakistan extended their growth streak for the fifth consecutive month in January, reaching a 17-month high and signaling a recovery in export-led industrial growth. According to data from the Ministry of Commerce, export proceeds for January stood at $2.78 billion, reflecting a substantial 27% increase from the previous year’s $2.19 billion. Commerce Minister Gohar Ejaz attributed these positive trends to the caretaker government’s commitment to promoting trade and economic growth.
He affirmed the continuation of policies supporting exporters, diversification of the export base, and efforts to enhance trade facilitation. Exports for the first seven months of the fiscal year 2024 increased by 12% to $17.76 billion from $15.83 billion in the corresponding period last year. The sustained rise in export proceeds for January indicates potential recovery in the textile and clothing sectors, securing orders from global clients after a year of downturn and showcasing Pakistan’s expanding international trade footprint. Minister Ejaz, confident in Pakistan’s trajectory, expressed the
belief that the country is on track to achieve its trade goals and emerge as a global economic leader. Despite the optimistic export scenario, the International Monetary Fund (IMF) projects a more moderate outlook, with export proceeds gradually increasing from $30.84 billion in FY24 to $39.46 billion in FY28. This forecast falls short of the ambitious $100 billion export goal set by the commerce ministry for the same period. Import data revealed a 4.5% decrease in January to $4.66 billion from $4.88 billion in the same month last year, continuing a trend of negative
import growth. The import bill for July-Jan FY24 decreased by 16% to $30.01 billion, down from $35.83 billion in the corresponding months last year. The government aims for an import target of $58.69 billion for FY24, representing an 8.14% increase from the previous fiscal year. The trade deficit showed a notable improvement, narrowing by 30% to $1.879 billion in January 2024 from $2.689 billion in January 2023. Over the seven-month period, the overall trade deficit decreased by 39%, totaling $12.244 billion compared to $20.005 billion in the previous year.
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trillion or 2 percent of GDP in the same period last year. Total revenue for July-December FY24 increased by 46 percent year-on-year to Rs6.9 trillion, while total expenditures rose by 45 percent to Rs9.3 trillion. The government’s markup payments surged to Rs4.2 trillion in July-December FY24, representing a 64 percent increase from the previous year. This escalation is attributed to high interest rates and the growing debt stock.
Punjab police prepared, confident about ‘secure, fair’ elections: Dr Anwar LAHORE
stAff report
Punjab Police is fully confident and prepared for the peaceful conduct of elections, and safe delivery of ballot papers and other polling materials. More than 130,000 officers and officials from all units, including Special Branch and CTD will be deployed to ensure that polling for the general elections and the entire process will be held transparently and securely throughout the province, Punjab Inspector General of Police (IGP) Dr Usman Anwar said. IG Police Dr Usman Anwar presided over a video link meeting to finalize security arrangements for the elections at the Central Police Office. RPOs, and DPOs of Gujranwala, Bahawalpur, and Rawalpindi regions participated through a video link. RPOs and DPOs gave a briefing about security, logistics, communication and transportation arrangements for Election 2024. The IG Police, citing the security audit, said that 49 thousand 956 polling stations would be established across the province. Out of the total, 5,577 polling stations have been marked as highly sensitive, 14,056 as sensitive and 30,323 fall in normal category, he said, adding that more than 130,000 officers and officials of all units including Special Branch, CTD would be deployed to provide effective security to the polling stations. Dr Anwar said that CCTV cameras would be installed at all polling stations across the province for constant monitoring polling process from control rooms established at the provincial, regional, divisional and district levels. He informed that 23,000 new cameras had been installed at the sensitive polling stations of the province, which had been linked to Safe City projects in 21 cities of the province. “Safe City Headquarters staff will monitor all the activities happening in the polling stations besides the Safe Cities Authority will provide the respective DPOs with its developed modern monitoring system”, Dr Anwar said, adding Punjab police would be in close coordination with all security agencies, armed forces, district administration all relevant institutions for purpose. “Dolphin Squad, Elite, QRF Force and local police led by SHOs will be continuously present in the field to deal with any effort to sabotage the electoral process”, the IGP said. Dr Anwar issued strict instructions to the officers concerned after reviewing the entire situation. Additional IG Operations Shahzada Sultan, RPO Gujranwala Tayyab Hafeez Cheema, DIG Operations Waqas Nazir, DIG Security Kamran Adil, DIG Establishment Zeeshan Asghar, CPO Gujranwala Muhammad Ayaz Saleem, AIG Operations Dr Asad Ejaz Malhi, Sheikhupura DPO Zahid Nawaz Marwat along with senior officers attended the meeting.
SIX PROCLAIMED OFFENDERS ARRESTED FROM UAE Meanwhile, the Punjab Police claimed to have six want proclaimed offenders wanted in various cases of murders from Dubai and extradited them back to the country. According to the spokesman for Punjab Police, a number of dangerous proclaimed offenders arrested from abroad this year has reached 12. According to details, the team of Special Operation Cell under the leadership of Inspector Khalid Nawaz Waryah arrested six POs from Dubai and brought them to Pakistan after completing all legal processes. The arrested POs, include: Hamad Shahbaz, Abu Bakar, Imtiaz Ahmad, Muhammad Rizwan, Bilal Mustafa and Ali Raza. Hamad Shahbaz fled abroad after killing a citizen in Gujranwala in 2022; Muhammad Rizwan killed a citizen in Faisalabad in 2023 and fled abroad. Similarly, PO Abu Bakr and Imtiaz Ahmed fled abroad after killing a citizen in Gujranwala last year while Bilal Mustafa was wanted by the Sialkot police since 2015 in a murder case whereas Ali Raza absconded abroad for 02 years after killing a citizen in Jhelum in 2022. The Punjab Police Special Operation Cell team has issued red notices to all proclaimed offenders through Interpol. All the proclaimed offenders were arrested in close coordination with the UAE Police and after completing the legal procedures, the team reached Pakistan and the police teams of the relevant districts took the proclaimed offenders into their custody at the airport.
Pakistan introduces Tight Gas Policy to propel exploration, production ISLAMABAD
AhmAD AhmADANi
In a bid to encourage the exploration and production of Tight Gas reserves, Pakistan has introduced a comprehensive policy that delineates essential provisions related to lease terms, pricing incentives, and operational guidelines. The policy titled “Tight Gas (Exploration & Production) Policy 2024” has been introduced with the objective of fostering investment, driving technological advancements, and promoting the efficient utilization of Tight Gas resources. The initial term of the development and production lease for Tight Gas will extend up to 30 years, aligning with the proposed Field Development Plan (FDP). Renewal for an additional period, not exceeding 10 years, is possible with justifications deemed acceptable by the Government. If the Tight Gas Reservoir extends into a free area, the lease area may be extended to the adjoining free area based on technical justifications. In cases of discovering Tight Gas under existing Development and Production Leases (D&PL), amendments will be made
to include rights for the Tight Gas Reservoir separately. Upon expiration of conventional gas rights, the area held for conventional reservoir production will be relinquished, provided it does not impede gas pricing. GAS PRICING INCENTIVES: To exploit Tight Gas Reserves, a 40% premium on the zonal price of Petroleum (Exploration and Production) Policy 2012 will be applicable. This pricing incentive applies to existing and future exploration licenses, Petroleum Concessions Agreements (PCAs), Mining Leases, and Development and Production (D&P) leases meeting Tight Gas qualifications under Section 4 of the policy. The provisional incentive price will be notified by OGRA or any authority designated by the Federal Government once Initial Third-Party Certification confirms a Tight Gas discovery. The final incentive price will be announced upon the granting of D&PL/OML. The Government, with the Operator’s consent, holds the first right of refusal for gas sales within Pakistan. ROYALTY AND TAX REGULATIONS: A royalty of 12.5% of the petroleum’s value at the field gate will be payable.
Operating losses can be carried forward for a maximum of fifteen (15) years. In cases where both conventional and tight gases are produced from the same D&P lease, leaserelated fees shall not be duplicated. PRODUCTION SUSPENSION, REVIEW: Operators are allowed a cumulative oneyear suspension of production, subject to technical and economic justifications. The Regulator/Authority may grant further extensions on a case-by-case basis. The Tight Gas Policy will undergo a mandatory review after five years, with periodic reviews of the List of Consultants/Laboratories (Section 7) during the policy term.
Technology Transfer Incentives:
To encourage technology transfer and the use of state-of-the-art equipment, machinery by the services sector will be exempted from Customs duty or other duties. Necessary amendments to existing regulations will be made to accommodate this provision. Applicability & Effect of the Policy: The Tight Gas (Exploration & Production) Policy is effective from the date of its publication in the official Gazette. Incentives apply to gas discoveries qualifying as “Tight Gas” under existing and future
Exploration Licences (EL), Petroleum Concessions Agreements (PCA), and Development & Production Leases (D&P)/fields and Mining Leases (ML). Existing tight gas discoveries that have not been developed as of the effective date of this Policy are also eligible for incentives, subject to specific conditions outlined in the policy. CONFLICT RESOLUTION: In case of conflict with the general terms of an existing Petroleum Concession Agreement (PCA) or Oil Mining Lease (OML) or Development and Production Lease (D&PL), the provisions of this Policy prevail concerning Tight Gas. However,
other Operator rights continue to prevail. IMPLEMENTATION REQUIREMENTS: To avail the incentives of this policy, a Model Supplemental Agreement (SA) will be developed, and SA to the respective Petroleum Concession Agreement (PCA) shall be executed. It is pertinent to mention here that Tight Gas (Exploration & Production) Policy 2024 seeks to create an environment conducive to attracting investments, encouraging the application of cutting-edge technologies, and ensuring the optimal utilization of the valuable Tight Gas reservoirs within the region.
CMYK
04 COMMENT
Saturday, 3 February, 2024
Russia-Iran Cooperation in the Changing World
Another mosque demolished
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Is the mosque demolition in Mehrauli Forest a sign of things to come?
Both have the USA as an opponent, but also differing hydrocarbon interests
Iran and Russia feel that not cooperating could be costly for both countries and there are benefits to working together. Russia is seen as a crucial supporter for Iran internationally, especially in the tensions with the West. The war in Ukraine has increased the importance of the alliance for both nations. While there is no formal alliance there is an unwritten commitment between Moscow and Tehran for mutual protection. Despite past obstacles, the two countries have started to strengthen ties particularly in the energy sector. Before 2022, Russian companies were cautious due to Western interests but this changed when a DR AKRAM ZAHEER $40 billion agreement was signed in July 2022. The deal involves upgrading Iranian oil and gas sectors with a focus on projects like the North Pars gas USSIA and Iran are becoming closer in field. However, questions arise about the reliability terms of security and defense. They are of the partnership specifically considering past withworking on a long-term agreement to co- drawals from projects. Iran also faces challenges in operate more in other areas. This collabo- attracting foreign investment due to sanctions and ration covers various aspects including economic issues. trade, investment and joint projects. Despite assurances from Iranian officials, doubts The relationship between the two countries has exist about the long-term significance and success of strengthened especially the deal, given the geopolitisince the conflict in cal nature of the cooperation Ukraine. Iran says that trade rather than purely commerbetween them has doubled cial reasons. Someone from and Russia is now the Iran criticized a deal between The USA should keep working the largest foreign investor in Iranian Oil Company Iran. Both countries believe with Russia on Iran’s nuclear (NIOC) and Russia's the West poses a threat to Gazprom. They questioned their interests. They think issue. This is important now that whether Russia would help that Western powers are Russia seems more willing to Iran build the necessary inlimiting their actions on the frastructure to export gas to cooperate with Iran on its nuclear world stage and supporting Europe. The critics think it is movements that aim to programme. It can prevent Russia not logical for Gazprom to change their governments. invest in Iranian LNG (liquefrom using Iran’s nuclear Both Moscow and Tehran fied natural gas) infrastrucsee the West as a common programme to play a dangerous ture because they lack enemy. This shared percepgame. It also makes sure Russia experience. They also doubt tion of threat and common Russia’s commitment to ininterests is the foundation of sticks to its commitment to stop vesting in Iran. their growing cooperation. The criticism in Tehran the spread of nuclear weapons However, within Iran is based on two points. First, there is a disagreement and considers the long-term risks Iran hasn’t prioritized develabout the value of Russia as oping its LNG industry like of a nuclear Iran. Russia likes a partner. Hardliners see Qatar. Second, there is a closer ties with Russia as a being seen as a partner in this, feeling that Russia pressures way to protect Iran against Iran to stay out of the Eurothe West gains more strategic the West while others, inpean gas market, as Russia cluding many Iranians, think benefits by talking to Moscow doesn’t want Iran to become that direct talks with the an alternative energy about Iranian nuclear programme USA and a revival of the provider to Europe. 2015 nuclear deal would be Russia, led by Putin, sees better for Iran. This division energy exports as a tool in its in opinion is not likely to go geopolitical competition away soon and Western powers may try to take ad- with the West. Russia has no reason to help Iran upvantage of it. The moderate and pragmatic wing in grade its energy infrastructure for European markets Iran is doubtful about Russia’s role and sees prom- and some in Tehran believe Russia might invest in ises of strategic relations with Russia as unrealis- Iranian projects to gain control over them and slow tic. down Iran’s emergence as an alternative oil and gas They see a common threat with Russia and be- exporter to Europe. lieve that working together is crucial for their mutual There is a competition between Iran and Russia security. Even though there are disagreements, they in Asian oil markets. Some in Iran suggest exporting prioritize their strategic goals. The leaders in both more oil to Europe instead of competing with Russia
HE demolition of the Masjid Akhonji in New Delhi’s Mehrauli Forest is being presented as merely part of an anti-encroachment drive. Anti-encroachment demolitions have occurred before, and even in Pakistan mosques have been demolished, but only to the extent of their encroachment. However, the razing of the entire structure by bulldozer in the middle of the night, on the pretext of clearing all encroachments from the Mehrauli Forest reserve, indicates that the demolition is permanent. It should also preclude the construction of a mandir at the site, for that would constitute a fresh encroachment. The mosque was about 600 years old, which meant that it was built long before the Mehrauli Forest became a reserve. Such an old structure should have been preserved, even if it was not in use. The tragedy is that it was, not just as a mosque, but as a madressa and a graveyard. The demolition entailed the destruction of manuscripts of the Quran, as well as of many graves. It is perhaps noteworthy that this mosque was not famous one scheduled by the Sangh Parivar for destruction. The court permission to allow Hindu worshippers into the Gyanvapi Mosque in Banaras, on the other hand, showed that the Babri Mosque model, where it is alleged that a mosque was built on top of a mandir site, is being used by the Parivar as well. The allegedly miraculous appearance of a Shivlingam in the mosque’s ablution area is the basis of this suit, and of the claim that the mosque was built on a mandir site. It is almost as if there has been no pause for breath in the Parivar’s drive to wipe the whole of India free of any trace of Muslim presence. It seems that only old buildings are being torn down, but it is only a matter of time before there is a demolition of living beings. India has a record of taking best practices from Israel, and the present slaughter of Gazans should be seen as a lesson to India on how to tackle its Muslim population. It is perhaps too much to expect a world community to prevent India from destroying its own heritage along with an large proportion of its population, but it should ensure that valuable parts of world heritage, like the Taj Mahal, are not demolished by the Hindutva hordes because they are a reminder of when Muslims ruled India.
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Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Yousaf Nizami Editor M. A. Niazi Umar Aziz
I and I
Joint Editor
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Executive Editor
Egoism is ultimately destructive ASKARI RAZA MALIK
HE mighty tyrant said, “I am god, I give life and cause death.” He let a condemned man go free and ordered the killing of an innocent person. The Prophet (Hazrat Ibrahim AS) insisted: “God makes the sun rise from the East and set in the West.” Whenever he was cornered, the tyrant invented his logic. He was Nimrod. He reveled in his blissful ignorance. God’s traditions do not change. He always gives enough leeway to the arrogant to realize his humble seed and stop acting like God. He gave enough time to Pharaoh. Then the king and God ‘the best of the Planners’ also planned. Pharaoh was humbled, compelled to swallow his pride, and made to confess that he believed in Moses and Aaron’s God. No, it was too late then. He was drowned along with his powerful Army while the Prophet (AS) was safely ashore. The lesson learned is to repent before it is too late. God has His ways to drive a lesson home to His creation. A man’s one step, according to Mukhtar Masood, could catapult him to the height of spiritual glory and a step in the wrong direction toss him into the abyss of darkness and disgrace. Sometimes a dark horse is raised to the most coveted spot of power and status. It makes a person of good breeding sombre, thinking, and humble. He commands respect and is loved sometimes more than a much more capable predecessor. Raheel Sharif could be cited as an example. Another person with an inadequate background could go berserk. A future historian of Pakistan would find no dearth of examples of the latter kind. Z A Bhutto had once thumped his chair as the source of ultimate power. No one in power would cherish his end. Pervaiz Musharraf had boasted about the end of the role of the PPP and PML(N) in the politics of Pakistan. He had to eat his words and accommodate the PPP as a power-sharing ally as his masters ordered. It was a comedown that Musharraf would have found extremely difficult to stomach. His exit from power turned out to be the most disgraceful exit of all. Worse still, executing a death sentence on him after he had died amounts to digging
his grave to hang his carcass as done in the mediaeval ages. The first casualty of arrogance is wisdom. The mind lives on the pastures of humility. It cannot share any space with conceit. The second victim of condescension is respect. Haughtiness enhances fear and dissipates respect. It gradually breeds disgust, hostility, and aggressiveness. When the options become limited, revolt takes root. It all depends on the level of oppression as to every action there are equal and opposite reactions. Snobbery alienates friends and hardens enemies. It discourages sincere advice and promotes flattery. It triggers irrational and sometimes insane reactions to disagreement and discord. It lowers the guard against sin and exploitation. The spiritual considers ‘I’ as the ugliest of human demeanors. It is the first and most formidable hurdle in the spiritual journey. The foremost act of Shams Tabriz was to remove the knot of Rumi’s ego and unearth the spiritual wealth that was destined to enrich the human mystical experience. Without the Divine mix, Rumi would have perhaps gone down in history as one of the religious scholars of so many before and after him. The world would not have known the giant that he was. There is no place for
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Teacher's assessment plan
peoples’ right to protest or question authority. Not for a moment did he think that he was hurling sheer insults at the 250 million people of Pakistan. The poor knave has no idea of the power of dialogue, reconciliation, and tolerance. He sees only the sword in the hands of Goliath while he is blind to the stone in the hands of David. In a routine environment, such a careless utterance could go unnoticed, in a tense atmosphere and political discontent it could cut deep somewhere, completely unnecessarily. In 1971, 50 million stood up for their rights and snatched them by force. Today, there are 250 million to contend with. There is no need for loose talk. One graceful judge very wisely opines that had there been freedom of expression in Pakistan, the country would have never been bifurcated or a sitting prime minister hanged. The other is drunk with power or overwhelmed with fear and insists that it is either his way or the highway. And then through a pure Faustian understanding the orders not to criticize a judge are issued to save his back from coming under severe flak. And then there are our masters abroad. We know that they have used us in the past only as Kleenex. They have forsaken their best friends when the friends needed them the most. Shah of Iran, Ayub Khan, Bhutto, Zia, and then ‘your most obedient servant’, Pervaiz Musharraf. Our souls are always on auction. Either we lack a sense of history and the wisdom to learn from it or we are completely shorn of self-respect and honour. We must determine the legacy we want to leave for the coming generations. Will they feel proud of us, laugh at us, pity or hate us? This is now or never.
And then there are our masters abroad. We know that they have used us in the past only as Kleenex. They have forsaken their best friends when the friends needed them the most. Shah of Iran, Ayub Khan, Bhutto, Zia, and then ‘your most obedient servant’, Pervaiz Musharraf. Our souls are always on auction. Either we lack a sense of history and the wisdom to learn from it or we are completely shorn of self-respect and honour. We must determine the legacy we want to leave for the coming generations. Will they feel proud of us, laugh at us, pity or hate us? This is now or never ego in a purified human soul. The ego combined with power is a deadly combination. In Pakistan, its manifestations are a common experience. From the petty police officer to the chief executive the powerful are ruthless, evil, callous, and inhuman. They have zero tolerance for disagreement. Criticism can invite murder, disappearance, and incarceration. To quote Ahmed Faraz, “Men have become gods in your city”. They make plans and are cock sure of their success. They do not learn anything from history. One naïve bloke believes that frustrated people have no options. It is not 1971 and East Pakistan. He by implication denies
in Asia. Those in Iran supporting closer energy ties with Russia argue that Iran should think globally and prioritize political ties over economic gains. They see Russia’s separation from the West as an opportunity for Iran. They believe that aligning with Russia helps the survival of the Islamic Republic as an anti-American model. It looks like the USA and Europe can’t do much to stop Moscow and Tehran from getting closer. This is because they are working together in a way that makes leaders in both countries less worried about a big threat. Without a new nuclear deal and with Iran doing bad things, like violating human rights and hurting innocent protesters, becoming friends with the current leaders in Tehran seems unlikely. European countries might consider putting a lot of pressure and more tough actions on Iran. This could make Iran feel vulnerable and give them a reason to get closer to Russia. The same thing is happening on the Russian side. Russian actions in Ukraine have made it hard for them to become friends with the West in the near future. Instead, when the West puts pressure on Russia, it strengthens the reasons for Moscow to be friends with Iran. In simple terms, as long as the West keeps up the pressure on both Russia and Iran, Moscow and Tehran will probably work together more. In these circumstances, there are a few ways that Western countries can deal with the growing friendship between Russia and Iran. First, the USA should talk to China about this. It is not clear if China is happy with Russia and Iran getting closer and both China and the USA want stability in the Middle East. Second, the Western alliance should keep making it costly for Iran to help Russia with security. This means doing more than just making strong statements and symbolic sanctions. The West should send clear military signals to Iran. NATO can help by working with Arab states to show Iran that supporting Russia won’t make them more secure. The USA should keep working with Russia on Iran’s nuclear issue. This is important now that Russia seems more willing to cooperate with Iran on its nuclear programme. It can prevent Russia from using Iran’s nuclear programme to play a dangerous game. It also makes sure Russia sticks to its commitment to stop the spread of nuclear weapons and considers the long-term risks of a nuclear Iran. Russia likes being seen as a partner in this, the West gains more strategic benefits by talking to Moscow about Iranian nuclear programme.
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INTRODUCING teachers’ licences is a praiseworthy step to ensure quality education in government schools, but only a written test will not serve the purpose. Teaching is a skill, and good teachers can only be assessed by gauging their performance in the classroom. Therefore, all government teachers should be assessed in the classrooms while taking an actual class. The assessment team should then allot a teaching category to the teachers based on their performance. Teachers should be given an opportunity on a periodic basis to improve their category. This would motivate them to improve themselves and remain abreast with the latest methodologies of pedagogy prevalent around the world. KHAYYAM DURRANI KARACHI
Sewage disposal
INADEQUATE sewage management poses severe risks, contaminating water sources, causing disease outbreaks, and harming ecosystems. Effective disposal methods, like treatment plants or decentralised systems, filter and purify wastewater, rendering it safe for reuse or release. Education related to responsible disposal is crucial, and investments in infrastructure bolster will ensure efficient collection and treatment. Embracing innovative technologies will help in recycling wastewater for irrigation or non-potable purposes, reducing the strain on the country’s freshwater reserves. Through proper strategies, sewage disposal is bound to preserve human health and ecological harmony. AYESHA RAFIQ RAWALPINDI
Early vacations
AS the winter vacations came to an end, schools reopened just when the winter season was touching its peak. The timing of the winter vacations needs to be revisited owing to the changing weather pattern. Students get unnecessarily exposed to the weather when they should be enjoying the warmth of their homes. The purpose of vacations is to provide respite from the cold and protect the students from health risks. Unfortunately, by declaring the vacations early, we inadvertently undermine this intention. It is crucial to address this issue as it affects the well- being and performance of the students. SULTAN NASIR ALI TURBAT
Uncontrolled machines
ELON MUSK once said that artificial intelligence (AI) is far more dangerous than even the nuclear weapons. True. According to a recent report, a worker in a Tesla factory was severely injured by a robot. The robot pinned him against a surface and pushed its claws into his body, leaving him seriously injured. Has the time arrived when machines will overpower the humans? ADEEL AHMED MALIK RAWALPINDI
Agricultural revolution
While cotton remains integral to Pakistan’s agricultural landscape, promoting agricultural diversification is a strategic imperative to mitigate risks associated with over-reliance on a single commodity. Encouraging farmers to explore alternative crops bolsters resilience and ensures adaptability to changing climatic conditions. This comprehensive approach, taking into account economic contribution, climate-resilient practices, pest management, quality improvement and economic support. INTIKHAB ULFAT KARACHI
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Saturday, 3 February, 2024
Hasina’s win benefitting the north-eastern region !
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More connectivity to India’s north-east and security for minorities NAVA THAKURIA
S Bangladesh went to polls on 7 January 2024 amidst violence and a boycott call from the main opposition, the Bangladesh Nationalist Party (BNP), it was well predicted that the ruling Awami League (AL) led by Prime Minister Sheikh Hasina will win a fourth consecutive term to lead the poverty-stricken south Asian nation for another five years. Consequently, the 12th general election on January 7 (a working day for the Muslim-majority country of 170 million people) gave an absolute majority to the incumbent AL with 222 seats in Jatiya Sansad, the highest legislative body of the populous country strategically located between India and Myanmar. The parliamentary election to the 350member Jatiya Sansad (where 50 women members are elected indirectly) reflecting a poor voters’ turnout (less than 42% of 120 million registered voters exercised their franchise) witnessed the electoral victory of 62 independent candidates (many even defeated AL nominees), a record since its birth as a nation in 1971. A compromised opposition Jatiya Party won only 11 seats and three smaller parties emerged winning one constituency each (where polling took place in 298 constituencies). The polling began at 8 am and continued uninterrupted till 4 pm under high security arrangements as the country often reports widespread poll-related violence. Over 750,000 police and paramilitary forces were deployed on the ground, where Bangladesh Army, Navy, and Air Force personnel were on duty to ensure security during the single day polling in 261,912 booths under 42,024 voting centres across the country. To motivate the electorate, PM Sheikh Hasina Wazed cast her vote as the first individual in Dhaka City College polling station. She was accompanied by her sister Sheikh Rehana and daughter Saima Wazed. More than 200 foreign observers representing over 30 countries and global organisations visited the country to monitor the electoral process. Three senior members of the Election Commission of India also joined the group. Over 20,000 Bangladeshi observers representing 84 organizations were also engaged in the process.
Bangladesh chief election commissioner Kazi Habibul Awal assured a free, fair and neutral polling. Sporadic incidents of violence and rigging of polls were reported, as BNP leaders called for a 48-hour Hartal (general strike) beginning the day before the polls. Alleging that elections under Hasina's government would never be free and fair, the BNP and its political allies stuck to their demand to conduct the polls under a caretaker neutral government in Dhaka, which Hasina strongly rejected.The Jamaat-e-Islami, a radical political party of Bangladesh, even took out processions in the capital city on the polling day supporting the BNP’s boycott call. A mass rally on 28 October by the BNP and its friendly parties turned violent, where at least four people were killed and nearly 300 vehicles torched on the streets of Dhaka. The government started a massive crackdown and put thousands of BNP leaders (including its secretary general Mirza Fakhrul Islam Alamgir) and workers behind the bars. Another BNP rally on 16 December witnessed the participation of hundreds of thousands of people reiterating their demand for Hasina to resign before the polls. On the eve of polls, a series of violent incidents rocked the country. The burning of Kamalapur railway station bound Benapole Express’s four coaches by miscreants resulted in the death of five passengers and injuries to many others. Next morning, a polling station (under Bandar police station) and a vehicle were torched in Chittagong locality. Two more people were killed on the counting day of ballot papers. Meanwhile, the UN rights chief expressed serious concern over the violence and repression reported during the electoral exercise in Bangladesh. Violations and irregularities during the campaign and on election-day should be thoroughly investigated, asserted the global rights chief, adding that the hard earned democracy in the country should not become cosmetic. The USA and the UK stated that the Bangladesh elections were neither free nor fair. Washington also observed that thousands of political opposition members were arrested and all political parties were not associated with the electoral exercise, adding that Dhaka should investigate reports of violence and make the perpetrators accountable. Terming the election as a fake one, the
BNP leaders claimed that such a low turnout in the polling indicated the people’s rejection following the boycott call. Alleging the Hasina government of running fabricated cases against 500,000 BNP leaders, civil society representatives and media personnel as well imprisoning over 1,700 party workers in the last 15 years, they asserted that the Bangladeshi voters thoroughly rejected the one-sided election. Now the BNP leaders have decided to intensify their movement against the fake regime with a series of peaceful public demonstrations across the country. BNP also boycotted the 2014 parliamentary polls, but contested half-heartedly in the 2018 election after discussions with Hasina, where she assured full neutrality but allegedly did not keep her words. BNP’s president Khaleda Zia (78 years old) is currently ailing and amazingly the former Bangla Premier is also under house arrest for graft charges. Even the party’s acting president Tarique Rahman, son of former Bangla President Ziaur Rahman and Begum Zia, has been living in self-imposed exile since 2008. Tarique faced 18 months jail term before leaving to London and staying there till date. So the party remains almost a leaderless political force on the ground and BNP leaders were assumed not interested in contesting the elections. Dhakabased political analysts argue that it was indeed an opposition-less election indeed as Jatiya Party also received political favour from the ruling AL. Initially, the party, founded by former military ruler Hussain Muhammad Ershad, was planning to boycott the election along with the BNP-led opposition alliance. But the ruling party vacated 26 seats for their nominees to get the only opposition party in the fray. Hasina’s party also encouraged more AL leaders to file nominations so that the election can be shown as a participatory one. Most of the independent candidates were either deprived AL leaders or just dummies. Thus Bangladesh has emerged as a one-party nation, where the logical question arises who would play the role of opposition in the parliament. The Paris-based global media rights body Reporters Sans/Without Borders (RSF) also condemned the violence against the journalists during the Bangladesh polls, when at least 12 reporters were attacked and expelled or denied entry to voting stations, in most cases by supporters of Hasina's party. The AL supporters attacked reporters covering the cases of electoral fraud, asserted the RSF, adding that the
Why France’s decision to revoke funding to acclaimed Muslim high school reflects a common paradox
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As our research has shown, many Muslim schools undergo more surveillance and criticism compared to their Catholic and Jewish counterparts CONVERSATION
CAROL FERRARA, FRANÇOISE LORCERIE & VINCENT GEISSER
RANCE is famously strict on enforcing what it calls “laïcité”: keeping religion out of the public sphere. Yet more than 7,500 private schools receive government funding, and most are Catholic. In a country where about 1 in 10 people are Muslim, just three Muslim high schools receive state support – or did. In December 2023, local authorities of the French Ministry of the Interior confirmed a decision to revoke state funding from Lycée Averroès, France’s largest and most acclaimed private Muslim high school. Authorities cited “serious breaches of the fundamental principles of the Republic”, raised concerns over certain texts in religious education classes, and accused administrators of opaque financial management, among various alleged infractions. None of these claims are supported by previous inspection reports, and many French scholars and activists have denounced the decision as politically motivated, setting off a political firestorm. Lycée Averroès, located in the suburbs of Lille, opened in 2003 and was granted state funding in 2008. In 2013, it was named the best high school in France, according to the Parisien newspaper’s rankings, and has consistently ranked among the region’s best in recent years. Teachers and administrators pride themselves on being dedicated to both French Republican and Islamic values. As our research has shown, the school often goes above and beyond to teach civic values such as equality and laïcité. In many French Muslim communities, the school is seen as a beacon – an example of a Muslim institution that succeeded despite discrimination, political tensions around Islam, and the French Republic’s strict secularism. The defunding decision represents a common paradox in contemporary France: Many of the steps its government takes to supposedly protect “French Republican values,” better “integrate” Muslim minorities or prevent radicalisation have the potential to do the opposite. HIGH SCORES, HIGH SCRUTINY Private schools in France can receive state funding for up to about three-quarters of their operating budgets if they agree to certain stipulations. Teachers can provide optional religious education, but otherwise must follow the national curriculum and admit students of any religious background, based on merit alone. The first Muslim schools opened in 2001, and dozens more have been established since. But as the first one to be granted state funding, Averroès has been under particularly close scrutiny since its inception. The school has previously faced controversies related to funding it received from an organisation in Qatar, and a former teacher’s claims, made a decade ago, that Averroès was teaching “Islamism”. According to an official 2020 report, from 2015 through 2020 Averroès was inspected 13 times, making it “the most inspected school” in the region. Notably, it stated that “nothing in the observations … allows (us) to think teaching practices don’t respect republican values.” Several public figures have argued that the decision to defund Averroès is representative of “inequitable and disproportionate” treatment that French Muslims often face compared to their non-Muslim peers. As our research has shown, many Muslim schools undergo more surveillance and criticism compared to their Catholic and Jewish counterparts. These double standards largely stem from a political environment rife with fears over Islamic extremism after numerous high-profile attacks on French soil. However, policies intended to save French Muslim
youth from radicalisation can have an adverse effect, making young Muslims feel that they are not seen as fully French, and further alienating them. For some, this sense of unequal treatment manifests in frequent protests and other demands for justice. But it has sometimes fueled riots, vandalism and social unrest. Other policies that affect education and were made in the name of French secularism have also drawn controversy for potentially discriminating against Islam. For example, a broad 2021 measure often referred to as the “separatism law” aimed to combat perceived nonallegiance to French values. Among many requirements, the law made independent schools harder to open and easier for the state to close. Although the text of the law does not explicitly mention Muslims, the political discourse surrounding the law clearly targeted Islam. In an October 2020 speech defending the legislation, President Emmanuel Macron stated, “What we must tackle is Islamist separatism,” which he accused of “repeated deviations from the Republic’s values.” Yet there is little evidence of such alleged “separatism.” Rather, studies have consistently shown that Muslim support for French institutions mirrors that of the larger population. Other examples of policies that purport to rein in radicalisation, but may further fuel Muslims’ isolation, include the 2023 ban on abayas in public schools and the 2004 “headscarf” law that banned “ostentatious” religious symbols from public schools. One study argues the 2004 ban harmed Muslim girls’ graduation rates, subsequently affecting their employment opportunities. Similarly, the abaya ban has been criticised by human rights activists, the United Nations and the US Commission for Religious Freedom for unduly restricting freedom of religious expression and potentially fueling discrimination. THE FUTURE OF PLURALISM Based on our fieldwork, we believe France’s Muslim schools may help reduce radicalisation and one of its causes: young people’s sense that being both fully French and fully Muslim is incompatible. As one young French Muslim told us, “I’ve always been made to feel as though I’m not ‘une vraie française’ (a real French person).” Such “everyday exclusion” can fuel alienation, resentment or even emigration. Institutions like Averroès, however, offer a haven from the discrimination students may experience in public schools, and create a space for pupils who want to wear a headscarf or abaya. In addition, they actively denounce terrorism and radicalisation. But recent actions suggest that the French government may have lost confidence in Muslim institutions as a way to foster French values. France shut down 672 Muslim establishments between 2018 and 2021, including mosques and independent Muslim schools. Most immediately, the decision to defund Averroès will impact its students and staff. The school offers scholarships to approximately 62% of its student body, including its nonstate-funded middle school – a number which will likely prove untenable without funding. More broadly, such steps may intensify challenges to French Muslims’ sense of value and belonging, obstructing the path toward peaceful pluralism and paradoxically increasing the risk of radicalisation and separatism. Yet we believe there is a third risk, as well. The French Republic considers secular neutrality and equality core pillars of French identity, but many critics view its policies on Islam as prime examples of inequality and bias. Such discord may undermine these values’ legitimacy, if not their very essence.
Carol Ferrara is Anthropologist & Assistant Professor, Department of Marketing Communication, Emerson College. Françoise Lorcerie is Professeure, Aix-Marseille Université (AMU). Vincent Geisser is Sociologue, Aix-Marseille Université (AMU).
COMMENT 05
relevant authorities should launch independent probes so that the responsible individuals can be brought to justice. “Furthermore, in a context of stifled media freedom, muzzled by governmental suppression of all criticism, we urge the newly re-elected authorities to finally adopt strong measures to safeguard unrestricted Internet access and protect the freedom of the press enshrined in Bangladesh's constitution and freedom of expression, which is being obstructed by the draconian new cybersecurity act. The government’s toxic control over news and information must end,” asserted the statement. On a polling day marked by tension, with the main opposition party (BNP) boycotting the polls, many journalists were physically attacked or were subjected to harassment and intimidation, and were either expelled from or denied entry to voting stations. Most of the harassment and violence was the work of ruling AL supporters targeting reporters trying to cover irregularities. In another serious violation of the right to report, access to the website of a Bengali newspaper was blocked. The newspaper management claimed that it had no internal technical issues when it experienced the access problems in the alternate media space on January 6. “The Bangladeshi authorities also refused to issue visas to journalists from the headquarters of many leading international media outlets, including BBC News, New York Times, Bloomberg, Agence France-Presse, Reuters and Al Jazeera. Most of the foreign reporters who managed to obtain visas were those based in New Delhi. Some foreign reporters were also asked to sign a statement accepting that their photographs and video footage would have to be approved by the Bangla authorities before being sent, and could not harm the national image,” asserted the statement. Hasina (76), who earlier ruled the country as its premier during 1996 to 2001, had won the last three national elections conducted since 2008 and established herself as the longest-serving government head among women in the world. Daughter of Bangabondhu Sheikh Mujibur Rahman, Hasina maintained that only her party can lead Bangladesh towards peace, prosperity and growth. In the election manifesto, Hasina promised to convert digital Bangladesh to a smart nation. She also committed to protect and promote the spirit of democracy, offer quality education to youths, modernise agriculture, and make healthcare services afford-
able to all Bangladeshi nationals. The Indian high commissioner in Dhaka, Pranay Verma, was the first foreign diplomat to call on Hasina at Ganabhawan to convey greetings after her re-election and victory for her party. Ambassadors representing China, Russia, Bhutan, Philippines, Singapore, Sri Lanka and others also soon followed and assured cooperation from their governments and countries. Prime Minister Narendra Modi also congratulated Hasina on her poll victory and pledged a mutually trusted relationship with Dhaka. Hasina reciprocated the goodwill from New Delhi. Her victory has been termed as a positive outcome for India's landlocked north-eastern region as many strategic and infrastructurerelated bilateral agreements between Dhaka and New Delhi are on the cards. The healthy working relationship between Hasina and Modi helped influence the Bangla government to crack down on north-eastern militants taking shelter in their soil. Dhaka also agreed to develop rail connectivity with India (from Agartala to Akhaura and Benapol to Kolkata) and allow four of its seaports (including Chittagong and Mongla) to be used by Indian traders. Moreover, Hasina permitted the use of waterways touching the Bangladesh territory to connect the mighty river Brahmaputra with the mainland Indian ports for transporting goods and also tourists. The world’s longest river cruise (from Varanasi to Dibrugarh) covering a 3,200-km-long route turned into a reality because of Dhaka’s cooperation. As Bangladesh is dependent on essential agriproducts like rice, sugar, onions, garlic, ginger, with many other items from India, its relationship with New Delhi suits it. But for any reason, the stability of the government and law and order situation in Bangladesh will be an utmost priority for Hasina. Traditionally New Delhi remains sympathetic to Hasina’s regime as she maintains seemingly a comfortable relationship with India (read the Hindus in her country). Even though many Hindu temples and Buddhist monasteries were vandalised by the radical Islamists from time to time with impunity during her long rule too. It’s only expected that Hasina will effectively safeguard the interest of religious minorities (Hindus, Buddhists and Christians) in the land of nationalist Bengalis, as she is widely considered more pro-Indian than her rival Begum Zia. The writer is a freelance journalist, has served in the Pakistan government for 39 years and holds degrees in economics, business administration, and law. He can be reached at amjedjaaved@gmail.com
There is a seismic shift in the Muslim American community
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AL JAZEERA NAZIA KAZI
N November 1, less than a month into Israel’s onslaught on Gaza, United States President Joe Biden’s administration announced a national strategy to battle Islamophobia. The move came as antiMuslim incidents were on the rise nationwide. On October 14, Wadea Al-Fayoume, a six-year-old Palestinian American child, was stabbed to death in Chicago while his mother was critically wounded in a racially motivated assault by their landlord. Five days later, Jasmer Singh, a 66-year-old Sikh man, was beaten to death in New York City by a man screaming “turban man”. (Observant Sikhs are often mistaken for Muslims.) On October 28, Muslim American physician Talat Jehan Khan was stabbed to death in Texas. Biden’s initiative was mirrored by some US academic institutions, which adopted anti-Islamophobia measures, typically alongside anti-Semitism prevention policies. Stanford, the University of Maryland, Columbia and Harvard are among the educational institutions that announced such initiatives. But the White House strategy to fight Islamophobia has been met with widespread scorn and ridicule. X (formerly Twitter) users responded to Vice President Kamala Harris’s announcement of the initiative with criticism and pointed questions about US complicity in the atrocities taking place in the Gaza Strip. On campuses, the crackdown on pro-Palestinian activism and advocacy has belied universities’ anti-Islamophobia initiatives. These reactions reflect Muslim Americans’ growing rejection of the attempt to replace systemic political demands with those focused on intolerance or exclusion. This marks a break from the past two decades, when a focus on cultural acceptance or interfaith dialogue, rather than political critique and action, shaped Muslim American advocacy and organising. This shift was apparent in the funeral of the slain child Wadea, which was attended by thousands and became a veritable Free Palestine rally. Speakers condemned the proIsrael slant of US media coverage, the blank cheque given by the US to the Israeli occupation forces to commit atrocities and the years-long siege on Gaza that has hobbled life for its residents. Wadea’s death was mourned not as a matter of anti-Muslim bigotry or hatred but a grisly domestic flashpoint in the US-Israel alliance. A similar position was taken following the shooting of three Palestinian college students in November, whose keffiyeh scarves likely marked them for the attack. When asked about the assault, Kinnan Abdalhamid, one of the survivors, insisted that the focus should remain on calls for a permanent ceasefire in Gaza rather than on his personal experience. Abdalhamid’s friend Hisham Awartani, who was left paralysed from the waist down by the shooting, also refused to have his ordeal repackaged into an instance of anti-Muslim intolerance. Awartani said he was but “one casualty in a much wider conflict. Had I been shot in the West Bank, where I grew up, the medical services which saved my life here would have likely been withheld by the Israeli army. The soldier who shot me would go home and never be convicted.” Meanwhile, the Muslim and Arab communities have come out en masse at demonstrations calling for an end to US material support to Israel and an immediate, permanent ceasefire. This mobilisation is a far cry from the dynamics of the past two decades, as my research on Muslim multiculturalism during the “war on terror” years illustrates. Following 9/11, Muslim American organisations en-
gaged in cultural and attitudinal projects meant to combat misconceptions about their communities. Many believed that changing America’s perceptions (by teaching about the significance of the Hajj or Ramadan or refuting stereotypes about hijab) would legitimise Muslim presence in the US. In my ethnographic fieldwork, I was told that raising questions of US militarism would jeopardise the fragile project of Muslim American legitimacy. These years saw a proliferation of cultural awareness events. On college campuses, Muslim Student Associations held Islam Awareness Weeks, again motivated by the belief that correcting misperceptions about Muslims would defeat Islamophobia. An annual International Hijab Day invited non-Muslim women to don a headscarf in solidarity with Muslim women. Museum exhibits showcased inventions from the Muslim world. Diversity initiatives, like the one by Gap, in which Sikh actor Waris Ahluwalia was featured in an ad campaign, were widely commended. After one billboard featuring the advertisement was defaced with racist graffiti, Gap used it as its Twitter banner, celebrating their diverse casting and inspiring a viral #thankYouGap campaign across Sikh and Muslim America. Muslim American activists also joined various interfaith initiatives, such as the Sisterhood of Salaam-Shalom, which was meant to bridge Muslim-Jewish divides through dialogue and friendship, and NewGround: A Muslim-Jewish Partnership for Change, which was tasked with building Muslim-Jewish relationships. Not all Muslim Americans embraced these initiatives. Some often marginalised voices offered trenchant criticism, accusing such programmes of “faithwashing”, that is using interfaith dialogue to distract from the Israeli state’s colonial violence against the Palestinian people. To these critics, bromides of tolerance and understanding turned Palestinian dispossession into a matter of opinion and individual differences while opposition to Israeli apartheid was explained away with a supposed “primordial hostility” between Jews and Muslims, which could be overcome through social exchange. Similar ruptures emerged around the annual Ramadan dinner organised by the White House, which convenes Muslim American leaders for an iftar meal with the president. President Bill Clinton’s administration held the first White House community iftar, and all presidents since then have followed suit. Even Donald Trump, who issued a “Muslim ban” during his presidency, hosted the event during his term. While some saw the White House iftar as a chance for Muslims to connect with America’s powerbrokers, others condemned attendees for breaking bread with the architects of coups in the Muslim world, assassination programmes, and systematic surveillance and deportations of Muslims. Many Muslim American organisations boycotted the 2021 White House iftar, citing Biden’s policies on Israel. Today, these fissures within the Muslim and Arab communities are closing. With increasing fervour, Muslim America is united in demanding a shift in US Middle East policy. Muslim and Arab refusal to support Biden, especially in key states like Michigan, has alarmed Democratic Party leaders. ”It is my opinion,” writes Palestinian-American scholar Steven Salaita, “that liberals who expect Arab Americans to forget about Biden’s endorsement of Zionist genocide when November comes around are profoundly mistaken.” The rejection of faithwashing attempts is now widespread. Muslim Americans are joined by legions of nonMuslims agitating for Palestinian liberation. Rather than wishing to see more colourful boardrooms or government liaisons on Islamophobia, they now keep a weather eye on the enduring system of apartheid and its undeniable project of ethnic cleansing and genocide. Biden’s national strategy on Islamophobia has fallen flat among Muslim voters. Whether this is enough to push this voting bloc beyond twoparty electoralism, opting instead for third-party options and mass-movement organising, remains to be seen. Yet it marks a seismic shift in Muslim American consciousness, which no longer accepts cultural tolerance and interfaith understanding as a remedy to the problems of empire. Nazia Kazi is Associate Professor of Anthropology and author of Islamophobia, Race, and Global Politics.
06 NEWS
ISRAEL TURNS FOCUS OF GAZA ATTACK CORPORATE CORNER VCs Huddle in Islamabad: TO RAFAH AS DEATH TOLL TOPS 27,000 alleviate Joint effort urged to Palestinians
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Saturday, 3 February, 2024 | ISLAMABAD
GAZA
AGENCIES
SRAEL prepared to advance its war on Gaza farther south, close to the Egyptian border, after claiming to have dismantled Hamas in Khan Younis, as diplomatic efforts in pursuit of a ceasefire accelerated. Defence Minister Yoav Gallant said that success in the fight against Hamas in the southern Gaza city of Khan Younis, where Israel launched a major ground attack last week, meant its forces could advance to Rafah on the enclave’s southern border. More than half of Gaza’s 2.3 million people are sheltering in this area, mainly cold and hungry in makeshift tents and public buildings. “We are achieving our missions in Khan Younis, and we will also reach Rafah” Gallant said in a statement. At the same time, Qatari and Egyptian mediators hoped for a positive response from Hamas, which runs Gaza, to the first concrete proposal for an extended halt to fighting, agreed with Israel
and the U.S. at talks in Paris last week. A Palestinian official close to the negotiations told the text envisages a first phase of 40 days, during which fighting would cease while Hamas freed remaining civilians among the more than 100
North Korea fires multiple cruise missiles SEOUL
AGENCIES
North Korea fired multiple cruise missiles off its west coast, South Korea’s military said on Friday, the fourth time in just over a week Pyongyang has launched such missiles. The South’s military said the launch took place at 11 a.m. (0200 GMT) but did not provide further details. North Korea has called them “strategic” cruise missiles, indicating they may be nuclear-capable weapons. Earlier this week, it said it had tested its new submarine-launched cruise missiles (SLCM) with leader Kim Jong Un on site to supervise. On January 29, North Korea tested its new strategic cruise missiles for the second time in a week, calling it a newly developed submarine-launched cruise missile (SLCM), accelerating its navy’s nuclear armament, state media reported on Monday. Leader Kim Jong Un supervised the test of the missile, called “Pulhwasal-3-31,” which is identical to the strategic cruise missiles that the North said last week were under development. State news agency KCNA and official Rodong Sinmun newspaper said the missiles flew above the sea off the country’s east coast for 7,421 seconds and 7,445 seconds and hit an unspecified island target, indicating the flight time exceeded two hours. Kim called the test a success, KCNA said, “which is of strategic significance in carrying out the plan…for modernizing the army which aims at building a powerful naval force.”
hostages it still holds. Further phases would see the handover of Israeli soldiers and bodies of dead hostages. Such a long pause would be a first since Oct. 7, when Hamas fighters attacked Israel, killing 1,200 people and
capturing 253 hostages, precipitating an Israeli offensive that has laid waste to much of Gaza. Health officials in the enclave said on Thursday the confirmed Palestinian death toll had risen above 27,000, with thousands more dead still lying under the rubble. A Palestinian official said Hamas was unlikely to reject the proposal outright, but would demand guarantees that fighting would not resume, something Israel has not agreed to. There was brief elation in Gaza on Thursday after remarks by a Qatari spokesman at Johns Hopkins University in Washington sparked ceasefire hopes – and a drop in the price of crude oil. But Qatari officials in the capital Doha and Taher Al-Nono, media adviser to Hamas chief Ismail Haniyeh, said the group had not responded yet. Gaza residents said Israeli forces pounded areas around hospitals in Khan Younis, and stepped up attacks close to Rafah. Combat has also surged in recent days in northern areas around Gaza City that Israel claimed to have subdued weeks ago.
India’s Paytm stock loses $2bn after RBI order, CEO seeks to reassure PROFIT
sufferings and combat injustice in Gaza
Riphah International University Islamabad, at Riphah Institute of Public Policy, hosted a pivotal roundtable discussion on the ongoing Gaza crisis. The event convened distinguished vice-chancellors from various universities across the country, under the leadership of Prof Dr. Anis Ahmad, Vice Chancellor of Riphah International University Islamabad. Among the esteemed attendees were Vice Chancellor Air University, Air Marshal Javaid Ahmed, HI (M) (Retd.), Vice Chancellor Shifa Tameer E Millat University Prof. Dr. Iqbal Khan, Pro-Rector Bahria University Islamabad Rear Admiral (R) Muhammad Arshid Javed SI (M), Rector Fast University Islamabad Dr. Aftab Ahmad Maroof, Rector National University of Technology NUTECH, Lt. Gen (R) Mr. Moazzam Ejaz, Chairman Islamic Studies School AIOU, Prof Dr. Mohayyudin Hashmi, and Rawalpindi Medical University Prof. Dr. Naeem Akhtar. PR
REUTERS
in India’s Paytm Shares (PAYT.NS), opens new tab plunged 20% for a second straight day after its banking arm was ordered to halt business and despite assurances from its CEO that the firm’s digital payments app would continue to function normally. The rout has erased about $2 billion in market value for Paytm – a company that has a long history of being in hot water – as it faces its biggest business and reputational crisis to date. The Reserve Bank of India (RBI) said the action was taken due to Paytm Payments Bank’s non-compliance with rules and supervisory concerns, which a source with knowledge of the matter said had stretched over years. Paytm’s banking unit powers most features of India’s most popular digital payments app
Descon, IFC enter strategic partnership to tackle Pakistan's annual postharvest losses in staple grains
that competes with the likes of Walmart’s PhonePe and Google. The app is used by millions of users to transfer funds, pay bills and maintain a digital wallet for retail payments. Come March 1, the RBI has said, the bank will be prohibited from further deposits, credit transactions or wallet uploads. No fund
transfers will be allowed either, which means that unless Paytm finds a new banking partner or partners, it will not be able to offer most services on its app. CEO Vijay Shekhar Sharma has said partnerships with banks would “not be difficult to execute”, and on Friday he sought to reassure app users again.
KU Senate meeting postpones
KARACHI: The Registrar University of Karachi on Friday stated that the KU Senate meeting scheduled for Tuesday, February 06, 2021, has been postponed. He said that the Senate members would be informed about the new date later. According to him, the decision was taken in pursuance of the notification number SO(U) U&B/Misc/23-411/2024/164 dated 01-02-2024 issued by the Universities of Boards Department, Government of Sindh, the University of Karachi will remain closed with effect from February 06 to 09, 2024 due to the General Elections-2024. PR
KARACHI: In a groundbreaking initiative aimed at addressing the significant postharvest losses of wheat, rice, and maize in Pakistan, Descon (under its Agri Business Line) and the International Finance Corporation (IFC) have officially signed a Memorandum of Understanding (MoU).This strategic alliance aims to address the yearly postharvest losses of essential grains in Pakistan, amounting to around USD 2 billion. These losses contribute to food insecurity, affecting 36.8% of the population. The collaboration underscores a commitment to an inclusive approach, leveraging private sector initiatives to positively impact Pakistan's agricultural sector. By addressing the root causes Descon and IFC aim to create sustainable solutions for long term food security in the country. PR
China braces consumption boom ahead of Spring Festival BEIJING
STAFF CORRESPONDENT
As China’s Spring Festival approaches, fresh momentum is being added to the consumption drive of the world’s second-largest economy, with the country fully leveraging its supersized market. Ahead of the Year of the Dragon, the 2024 national online Spring Festival shopping season has already begun in mid-January and will last for the whole Chinese New Year holiday season, which runs until February 17. As the first major online activity to boost the country’s efforts in promoting consumption this year, this shopping season will integrate online.
PID (I) 4669/23
Saturday, 3 February, 2024 | ISLAMABAD
CORPORATE CORNER BoK partners with Ruba Digital to offer Shariah compliant consumer financing for KP govt employees
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$50B SHARES BUYBACK SET TO BENEFIT CURRENT SHAREHOLDERS PROFIT
MONITORING DESK
Bank of Khyber (BoK) has signed an MoU with Ruba Digital (RD) to offer Shariah-compliant consumer financing to employees of the Khyber Pakhtunkhwa (KP) government. The formal document was signed by Khurram Shahzad Alam, COO of RD and Irfan Nisar, Divisional Head Consumer Finance of BoK’s Islamic Banking Group, with senior executives from both institutions in attendance including Muhammad Irfan Aslam, CFO, RD, Masood Khalid, Head Institutional Marketing, BoK, Arbab Ghayur Sikandar, Area Manager Peshawar, amongst others.Under this agreement, BoK will extend Shariah-compliant consumer financing options to all permanent salaried employees of the KP government on easy monthly installments, enabling them to acquire electronic items from RD. Through this strategic alliance, BoK reaffirms its dedication to both Shariah-compliant financial solutions. PR
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Meta declares first-ever dividend of $0.5 per share NEWS
ETA, the parent company of Facebook, declared its first-ever quarterly dividend of $0.50 per share, authorizing an additional $50 billion in share repurchase. This marks a significant shift for the tech giant, adding to its financial strategy and shareholder value. Meta’s financials suggest an increase in net income from $23.2 billion in 2022 to $39.098 billion in 2023 – a 69% improvement in profitability reflects the company’s strong financial health. The financial report for the fourth quarter surpassed analysts’ expectations, reflecting robust performance across various metrics.
Founder and current CEO of Meta, Mark Zuckerberg, will receive $700 million a year from the first-ever dividend.
Cargill becomes first global edible oils supplier to meet WHO’s best practice
With a market capitalisation soaring above $1 trillion, Meta’s expanded buyback plan encompasses approximately
5% of its outstanding shares. The quarterly dividend of $0.50 per share solidifies Meta’s position as a dividend-paying stock. This move aligns Meta with other tech giants like Apple and Microsoft, all of which offer regular dividend payouts. The company’s board plans to sustain this dividend payment schedule, contingent upon prevailing market conditions. The objective is to establish a balanced capital return program while maintaining flexibility for future capital allocation strategies. The announcement of the dividend and buyback program comes amid an evolving landscape for Meta, as it continues to navigate regulatory challenges and invest in innovative technologies to drive its future growth trajectory.
Tamasha brings HD live streaming of HBL-PSL 9 to Pakistani cricket fans
Pakistan’s most inclusive DEI Awards for 2023 announced
ISLAMABAD: Pakistan most prestigious DEI awards for the year 2023 announced today in Islamabad.In a statement, Zahid Mubarik CEO, HR Metrics announced jury result of GDEIB awards for the year 2023. Based on the performance assessment of various organizations in last year three companies were declared as “Most Inclusive Organizations od Pakistan in 2023”; including, HBL, Bank Alfalah Limited and Nestlé Pakistan. According to Zahid Mubarik, DEI are quantifiable measure that track diversity, equity, and inclusion at an organization. These awards are given one the basis of programs, policies, strategies, and practices of any organisation to create and sustain a diverse, equitable, and inclusive environment, he added. DEI awards are annually given to the organisations who achieve excellence in Diversity, Equity, and Inclusion. HR Metrics conducts GDEIB awards on annual basis through a merit-based process in which organizations are given the opportunity to disclose their diversity, equity, and inclusion accomplishments with a focus on social and economic impact on relevant stakeholders. PR
BISP holds prominent position as a global leader in social protection programs: Dr Amjad Saqib
ISLAMABAD: The Chairperson of the Benazir Income Support Program (BISP), Dr. Muhammad Amjad Saqib, emphasized that BISP holds a prominent position as a global leader in Social Protection Programs. He stated that BISP is serving 9.3 million families in dignified manner through the compassionate provision of financial support. Dr. Muhammad Amjad Saqib said that the transparency and efficiency of BISP have gathered recognition from its International Developmental Partners, owing to the program's credible database and robust payment mechanism.Chairperson BISP mentioned that, within a short span, BISP, in collaboration with partner organizations and stakeholders, initiated numerous new projects. Addressing concerns raised during the distribution of quarterly funds under the sponsorship program, where women complained of not receiving the full amount, BISP introduced a new banking system for payments. Initially handled by only two banks, the country has now been divided into 15 clusters, with more than eight banks assigned to reduce complaints of deductions. PR
DEMP in collaboration with QMMB commemorates Kashmir Day
KARACHI: Directorate of Electronic Media and Publications (DEMP) in collaboration with Quaid-eAzam Mazar Management Board (QMMB) commemorated the Kashmir Day. The ceremony was organized in accordance with Kashmir Day at Quaid e Azam Mazar, Karachi on 2nd February. Director General Press Information Department Ms. Erum Tanveer honored as Chief Guest The intraschool art competition programme was meant to show solidarity with Kashmir and its people struggle for freedom. Different child students participated in the art work competition where they showcased their thoughts in support of occupied Kashmiri people under Indian oppression. In her address, Chief Guest Ms. Erum Tanveer praised the commemorations of such events and also lauded the hardships of DEMP & QMMB to arrange such influential events. PR
KARACHI / ISLAMABAD: As of Jan. 1, 2024, every Cargill food customer, no matter where they are in the world, can be confident that the company’s fats and oils comply with the World Health Organization’s (WHO) recommended maximum tolerance level for industrially produced trans-fatty acids (iTFA) in fats and oils. Cargill has achieved this milestone by becoming the first global supplier whose entire worldwide edible oils portfolio meets the WHO’s best practice standard on iTFAs, limiting iTFA content to no more than two grams per 100 grams of fats/oils, including in countries where there is currently no legislative mandate. PR
Make Zong roaming bundles your travel partner
ISLAMABAD: Zong 4G, Pakistan’s leading telecommunication provider, offers exclusive International Roaming bundles for your next trip abroad so that you can enjoy hassle-free and uninterrupted connectivity at affordable rates.Zong 4G is working endlessly to make International roaming more seamless, accessible, and affordable for international travelers. The constant struggle of switching networks for international trips is a struggle. Keeping this in mind, Zong 4G deemed it necessary to offer International Roaming services to make your traveling experience more enjoyable.Zong 4G is the only telecom operator in Pakistan that offers IR services in more than 150 countries and has specially-tailored IR bundles for multiple locations such as UAE, China, Turkey, Saudi Arabia, Iran, Azerbaijan, etc.According to the official Spokesperson for Zong 4G, ‘International Roaming in Pakistan is a service that is still undergoing a lot of changes, due to which most people do not consider roaming to be reliable. However, Zong is committed to transforming this perception. We firmly believe that International Roaming is an integral service that should be both affordable and reliable for all users. This is why we are pleased to introduce specially-designed IR bundles to ensure that our customers experience premium services at cost-effective rates, especially during this holiday season. PR
Heavy taxes on legitimate tobacco industry lead to 40% production decrease
ISLAMABAD: The legitimate tobacco industry in Pakistan is facing a severe crisis as heavy taxes imposed on tobacco products have resulted in a significant production decrease and a substantial tax loss. According to the Pakistan Bureau of Statistics, the production of legal cigarettes has plummeted by 40% in just five months due to the widening price gap between legal and illegal cigarettes, primarily attributed to the increase in excise duty.Between July and November of the current fiscal year, the legal cigarette industry witnessed a staggering 39.31% decrease in production, a figure four times higher than the average decline in other large-scale manufacturing industries. The overall large-scale manufacturing output experienced an average decline of 0.80% during the same period, marking a negative 10.3% in the twelve months of the previous fiscal year.The production of the tobacco industry as a whole decreased by 39.31% from July to November 2023, with tax-paying tobacco companies recording a 28.4% decrease in production during the twelve months of the previous fiscal year. The average monthly legal production of cigarettes also saw a substantial drop from 4.41 billion cigarettes in the first nine months of 2022 to 2.836 billion cigarettes. PR
ISLAMABAD: Once again, Tamasha, Pakistan’s largest homegrown OTT video streaming and entertainment platform, is bringing HD live streaming of the highly anticipated Pakistan Super League 2024 (HBL PSL 9). Cricket enthusiasts across Pakistan can now enjoy HD live streaming of all HBL PSL 9 matches on the Tamasha mobile app.A signing ceremony between Tamasha and Walee Technologies leadership was recently held in Islamabad where Tamasha acquired digital broadcasting rights for the tournament, bringing HD live streaming of all HBLPSL 9 matches straight to the smartphones of millions of Pakistanis, regardless of their network.Sharing his thoughts on this exciting development, Aamer Ejaz, Chief Digital Officer at Jazz, said, "Catering to the undying love of millions of Pakistanis for the game of cricket, Tamasha is set to bring high-definition live streaming of yet another thrilling PSL season. I want to extend my sincere gratitude to our users for choosing Tamasha as their go-to platform, not just for cricket but also for a diverse range of sports, news, movies, originals, and other digital entertainment. PR
Jazz's holistic approach to diversity, inclusion shines with 15 wins at 2024 GDEIB Awards
ISLAMABAD: Jazz, Pakistan's leading digital operator, has achieved remarkable recognition for its inclusion efforts by securing awards in 15 pivotal categories at the 2024 Global Diversity, Equity & Inclusion Benchmarks (GDEIB) Awards. The recognition spans various aspects of organizational excellence, with Jazz winning 9 'Best Practice' awards across vision, strategy, and business impact; leadership and accountability; recruitment; work-life integration; flexibility and benefits; DEI communications; DEI learning and development; connecting DEI and sustainability; community, government relations, and philanthropy; and responsible sourcing. The organization’s ‘proactive’ excellence in assessment, measurement, and research, as well as ‘progressive’ approach to DEI structure and implementation; advancement and retention; job design, classification and compensation; services and products development; and marketing and customer service were also recognized at the DGEIB platform. PR
Adamjee Life collaborates with Kiran Foundation to empower future business leaders
KARACHI: Adamjee Life, a leading life insurance company, is proud to announce its collaboration with the Kiran Foundation, a renowned non-profit organization dedicated to nurturing young minds, education and vocational training. In an endeavor to foster entrepreneurship, Adamjee Life awarded to participants of the 'Entrepreneurship Program’, by providing support for their business start-ups, thereby facilitating the transformation of innovative ideas into successful ventures. The three winners were as (1) Uroosa Atif (2) Hunain Rizwan and (3) Mubashara Muhammad Hanif. Driven by ambition, this program was curated by two students that was led by Alisha Tawawalla and assisted by Fatima Zehra; students at Karachi Grammar School, who initiated the ‘Entrepreneurship Program’ at the Kiran Foundation. Their aim was to inspire the local community and bolster small businesses within the residents of Lyari. The Capital raised through this initiative was utilized as seed funding for three successful members selected from this program. PR
Karachi: A friendly dinner was held at a local hotel. Photo shows H. E Sami Abdullah Salim Al Khanjari, New Consul General Of Oman, MURAT GÜZELLER, Vice Consul of Turkiye Consulate, Abdullah Juma, Vice Consul of Oman Consulate, Waseem Sheikh Solicitor, Prominent actress Faiza Qureshi, woman entrepreneur Tehmina Siraj Hashmi, and Zahid Karani. PR
In a resounding message, Pakistan Muslim League (N) Sindh Province Vice President Malik Muhammad Taj and Karachi Division Finance Secretary Muhammad Sohail Khan declared February 8, 2024 as the triumphant Victory Day for their party. Emphasizing the commitment to public service and national development, they urged the people of Pakistan that voting for Pakistan Muslim League (N) is the duty of people and serving the people is a tradition deeply rooted in the party’s ethos. Encouraging the people of Pakistan, they called to vote for Pakistan Muslim League (N) to usher in a new era of the country’s progress and prosperity. PR
KalPay, UCP collaborate to provide students with instalment facilities for education financing
LAHORE: KalPay has partnered up with University of Central Punjab (UCP) to offer convenient instalment plans to their students to help manage their educational expenses efficiently. KalPay, co-founded by Mr. Shershah Hassan in 2021, is a consumer lending fintech startup that offers buy now, pay later (BNPL) solutions on various e-commerce platforms, and for the purchase of productive assets like smartphones and fee payments for education and skill development services. This collaboration between KalPay and UCP will enable UCP students to study now and pay later with the ease of interest-free monthly instalments, which are customizable as per their individual needs. PR
Commonwealth observation team for election 2024 meets ICCPO
ISLAMABAD: Commonwealth observation team for Election 2024 were briefed about security arrangements According to the details, the Commonwealth observation team for election 2024 visited Safe City Islamabad and met with Islamabad Capital City Police Officer (ICCPO) Dr. Akbar Nasir Khan, a public relations officer said. He said that, a meeting was organized at Command and Center for Election 2024, which was attended by the Commonwealth observation team and senior officers of Islamabad Capital Police. During the meeting, the Commonwealth observation team was given a detailed briefing on the measures regarding election security in the federal capital, Islamabad. Chairperson Commonwealth observation team appreciated the efforts of ICCPO and praised the Islamabad Capital Police. PR
NO DEAL EVEN IF IMRAN KHAN GETS HARSHER PUNISHMENT: RAOOF HASSAN
Saturday, 3 February, 2024
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ISLAMABAD
STAFF REPORT
AKISTAN Tehreek-e-Insaf’s (PTI) Information Secretary Rauf Hassan on Friday said that the party founder, Imran Khan — who has recently been convicted in a couple of cases — “will not make a deal” even if he gets a harsher punishment. Legal woes of the PTI supremo multiplied when an accountability court earlier this week sentenced the former prime minister and his spouse Bushra Bibi to 14 years in prison with rigorous punishment in the Toshakhana reference. The blow came just a day after a special court awarded 10-year imprisonment to Khan in a case related to cipher. However, the PTI stresses that the former premier, who was removed from power via a no-confidence vote in April 2022, would stand firm in the face of punishment. “The PTI founder will not make a deal even if [he gets] a harsher punishment,” Hassan said while speaking to journalists in Islamabad. “Ask Bushra Bibi if anyone has con-
tacted her for a deal,” he added. He said that PTI has been in contact with envoys of different countries and the leaders have met some of them and some have even assured of free and fair elections in the country. However, he said the party doesn’t issue statements about these meetings. Hassan also ruled out horse trading
LHC Justice Shahid Jamil steps down from post over ‘personal reasons’ LAHORE
STAFF REPORT
Justice Shahid Jamil Khan of the Lahore High Court (LHC) on Friday resigned from his post. Citing “personal reasons” for the resignation, Justice Khan has sent his resignation to the President of Pakistan. “I Justice Shahid Jamil Khan, after having served as a Judge of Lahore High Court, Lahore for about 10 years, hereby exercise the option to resign under Article 206(1) of the Constitution of the Islamic Republic of Pakistan 1973, with immediate effect,” his resignation later maintained. According to the LHC website, Justice Khan was the 11th most senior judge of the court. He was elevated to the LHC on March 22, 2014, and was due to retire on April 29, 2028, on attaining the age of superannuation. The LHC sources said Justice Khan had been on leave for more than a month. Earlier this month, two judges of the Supreme Court (SC) – Syed Mazahar Ali Aqbar Naqvi and Ijazul Ahsan – resigned from their posts in an apparent protest. Both of them had also served as judges of the LHC. On January 10, Naqvi, who was facing charges of misconduct, resigned saying it was no longer possible for him to continue holding this position. He was embroiled in ongoing proceedings at the Supreme Judicial Council (SJC) in connection with his accusations. A day before his resignation, the apex court had turned down Naqvi’s plea to halt the ongoing SJC misconduct proceedings against him. Naqvi tendered his resignation to President Dr Arif Alvi, in which he wrote that it was an honour for him to serve as the judge of the Lahore High Court and then the Supreme Court. “In the circumstances which are a matter of public knowledge and to some extent public record, it is no longer possible for me to continue to serve as a judge of the Supreme Court of Pakistan,” Justice Naqvi wrote in his resignation. “Considerations of due process also compel. I, therefore, effective today resign as judge of the Supreme Court of Pakistan,” he added. The ex-judge may now be entitled to pension and other privileges after his resignation. If the SJC had removed him for misconduct, he would have lost these benefits. Following suit, Justice Ijazul Ahsan, who was in line to become the next Chief Justice of Pakistan (CJP), tendered his resignation, creating unprecedented times for the SC. His resignation came a day after Naqvi’s. The two were considered to be like-minded judges. Both the judges submitted their resignations to President Dr Arif Alvi for approval. “I have had the honor and privilege of serving as a Judge of the Lahore High Court, the Chief Justice of the Lahore High Court, and a Judge of the Supreme Court of Pakistan. “However, I no longer wish to continue as a Judge of the Supreme Court of Pakistan. Therefore, I, Justice Ijazul Ahsan, resign as a Judge of the Supreme Court of Pakistan in terms of Article 206(1) of the Constitution with immediate effect,” said Justice Ahsan in his resignation letter, shocking many.
involving the PTI-backed independent contestants for February 8 polls, saying that the party’s candidates won’t sell themselves. “[We] believe that the PTI nominated candidates will not change their loyalties.” The politician further said that the party gave tickets to nearly 27 lawyers on the basis of the strategy that the
lawyers cannot be arrested. Speaking about Imran’s former ally Sheikh Rashid Ahmed, Hassan said that the PTI had been unfair to itself by joining hands with the Awami Muslim League (AML) leader. Moreover, the PTI’s info secretary also said that all those who had parted ways with the party “are willing to rejoin”. “The PTI will review the anti-party statements of deserters who are willing to rejoin.” Speaking about the party’s decision to defer the intra-party polls, Hassan said that staging the internal elections didn’t seem possible in the light of the country’s situation and workers’ in-availability due to general polls. He said that the former ruling party would adopt a digital way to hold the party polls whenever it happens. The PTI has been facing a slew of legal challenges for a while as the former prime minister received convictions in multiple cases, while the party was also stripped of its iconic electoral symbol. Losing the electoral symbol ahead of polls forced the PTI to field independent candidates as it no longer had the status of a political party without a party head.
SECP amends listed companies’ takeovers regulations g
ACQUIRER NOW MANDATED TO MAKE PUBLIC OFFER TO MINORITY SHAREHOLDERS IN CASH PROFIT
GHULAM ABBAS
The Securities and Exchange Commission of Pakistan (SECP) has introduced amendments in Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. These amendments have been made after consultation with key stakeholders and the general public and are in line with international good practices. These changes came into effect after SECP launched its draft amendments in August 2023 as covered by Profit. As per details the Regulations make it mandatory for the Acquirer of a company to make a Public Offer to the Minority Shareholders of the Target Company at a price determined in accordance with the prescribed criteria. The purpose of the mandatory Public Offer is to provide a fair opportunity to the Minority Shareholders to take an exit from the company in case they intend to do so. Through an earlier amendment made in the year 2022, the Acquirer was allowed to offer either cash or securities as payment
to the Minority Shareholders who accepted the Public Offer. While the amendment provided flexibility to the Acquirer, the risk arose that an Acquirer might offer securities that were not as good as cash and were unacceptable to the Minority Shareholders who were otherwise inclined to accept the Public Offer. By offering inferior securities as payment, an Acquirer might defeat the purpose of Regulations i.e. to provide a fair exit opportunity to the Minority Shareholders of the target company. This risk has been addressed by following the principle that the securities offered as payment to the Minority Shareholders must be as good as cash. Based on this principle, the amended Regulations allow the Acquirer to offer securities as an alternate to cash but leave the final decision, i.e. whether to accept cash or securities as payment, to the Minority Shareholders of the Target Company. The amendment makes it difficult for an Acquirer to game the mandatory Public Offer and deprive the Minority Shareholders of the Target Company of a fair exit opportunity by offering inferior securities as payment.
The Regulations also prescribe various methods for determining the price to be offered by the Acquirer to the Minority Shareholders of the Target Company. The highest price determined through these methods becomes the Offer Price. One of prescribed pricing methods is Net Asset Value of a company. In case of frequently traded companies, Net Asset Value may not be a suitable measure for price determination. It disregards the premise that market price is the best measure to value such companies and discourages takeovers of frequently traded companies whose shares are trading at a discount to the Net Asset Value. The amended regulations address this issue by excluding Net Asset Value from the prescribed methods for determining the Offer Price for frequently traded target companies. The amended Regulations also contain improved definitions of various terms for clarity and consistency. These amendments are expected to help safeguard the interests of the Acquirers as well as the Minority Shareholders of Target Companies.
Nadra official ‘abducted’ from federal capital ISLAMABAD
STAFF REPORT
The National Database Regulatory Authority (Nadra) Friday expressed concerns over reports of its officer’s alleged disappearance in Islamabad. Earlier today, the brother of Nadra Deputy Assistant Director Najeebullah said that his brother had been abducted in the federal capital on Thursday night. Responding to the media reports in a statement, a spokesperson of the Nadra said that the administration was in contact with the staffer’s family. The spokesperson said that the police were investigating the matter and hoped that the staffer would be traced soon. It is pertinent to mention here that a case has already been registered at Ramna Police Station at the Nadra officer’s brother’s request, who works at the Prime Minister’s Office.
“My brother left the house at 9pm last night but did not return since then. My brother made a call but he appeared frightened by the voice. He told me that someone had made him sit and the phone was hung up,” he mentioned in the first information report. As per the FIR, the complainant suspected that his brother was abducted.
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Arrest warrants issued for employees skipping elections 2024 duty KARACHI
STAFF REPORT
Arrest warrants have been issued on Friday for the Sindh health department, skipping elections 2024 duty. As per details, the arrest warrants for 267 employees including women, were issued by the Returning Officer (RO) of PS-110-Karachi, South, Muhammad Hayyat, over continued absence from their election duties. The police have been directed to arrest and present the employees skipping their election duties on Friday. On February 1, Chief Election Commissioner (CEC) Sikandar Sultan Raja, in a press statement after the meeting, said that those who are trying to obstruct the polls by disturbing the peace would be dealt with strictly. “There should be no confusion or misunderstanding as the General Elections 2024 will be held on time,” the CEC made it clear. He said that terrorism is the biggest enemy of the electoral Sikandar Sultan Raja said that despite the security challenges, the ECP is fully prepared to hold the elections on February 8. The CEC also expressed full confidence in the law enforcement agencies process.
May 9 cases: PTI founder’s interim bail extended till today LAHORE
STAFF REPORT
An anti-terrorism court on Friday extended the interim bail of the PTI founder in seven cases related to May 9 vandalism till February 3 (tomorrow). A junior of senior counsel Salman Safdar appeared in the court of Arshad Javed and informed him that the lawyer was busy with some cases in Islamabad. The court directed Advocate Safdar to appear before it tomorrow and adjourned the hearing.
‘Electioneering’ prompts PTI to defer intra-party polls ISLAMABAD
STAFF REPORT
The Pakistan Tehreek-e-Insaf (PTI) on Friday announced that it would hold its intra-party elections after the general election instead of Feb 5 as the party leaders and workers were preoccupied in poll campaign. A day earlier (Thursday), the party in a surprise move said it would hold the intra-party elections on Feb 5. But, it realised that the exercise could not be conducted just ahead of the general election because of engagement of leaders and workers in their constituencies. The internal elections of the party will now be held soon after general elections going to be held on Feb 8. The PTI says a new schedule for the intra-party elections will be issued. Sources said party leadership had contacted chief organiser and requested to postpone the elections. Moreover, party members also requested to defer the intra-party elections as they were busy in electioneering in their respective areas. Earlier, party’s federal election commissioner had issued the schedule. The party had said all registered voters would be eligible to take part in voting throughout Pakistan on the designated places for polling to elect a panel or a candidate of their choice. “All the party members registered till Jan 31 would be eligible to take part in voting. Details of the panels taking part in elections will be available on the official website of the PTI. The detailed procedure for intra-party polls is given in Election Rules, 2020, also available on website,” said the party statement given on social media website. Polling was to be held on Feb 5 from 10am to 5pm. Nomination papers could be received from party’s central secretariat or official website from Feb 1 to 2. The last date for filing of nomination papers was announced as Feb 2 till 10pm.
Khan urges Pakistanis to ‘overthrow crooks’ with ‘most powerful weapon’ of vote ISLAMABAD
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) Chairmanfor-life Imran Khan has called upon Pakistanis to use the “most powerful and meaningful weapon” of the vote to overthrow “crooks” who have been imposed on the nation. In a message to the nation on X (erstwhile Twitter) on Friday, the PTI founding chairman said that the people of the country were well aware of the fact that all these cases against him had no legal basis, as these were part of an “on-going political circus” in the country for the past 22 months to demoralize the voters. However, they should not be disheartened, as Allah is the ultimate planner”, he stressed. “My Pakistanis, the unfolding of the Toshakhana, Cypher, and Iddat cases only highlights their frivolous, baseless, and politically motivated nature. When the cypher case emerged, I warned that unless we dealt with it decisively, no Prime Minister in the future would be able to withstand such blatant foreign interference in Pakistan’s internal matters,” he added.
Imran Khan recalled that General Musharraf also surrendered to the US’ threats of “bombing Pakistan into stone age.” “But, to appease their masters who orchestrated the regime change operation, I was deprived of my legal right of cross-examining the witness or presenting my witnesses, as the handlers knew that it would unmask another great betrayal in our political history just like that of Mir Jaffer of Bengal,” Khan maintained. PTI Chairman-for-life stated: “By the grace of God, I have led my life with impeccable financial integrity and credibility with the people of Pakistan donating billions of rupees for my philanthropic projects. Therefore, the Toshakhana case was concocted because no evidence of financial corruption against me could be found.” Imran Khan went on to say that even during the sham trial, when they sensed that the trial would conclude in absolving me, they deprived me of my fundamental right to cross-examination. He further added that meanwhile, the iddat case has been expedited only because they want to create a narrative against my dream of establishing Pakistan on
the principles of Riasat-e Madinah. “Therefore, they are concluding it in haste without an iota of fairness in the trial just to announce me guilty,” he added. “Pakistanis, you must know that all of these cases have no legal basis; they are part of an on-going political circus in the country for the past 22 months. The hasty manner in which all these cases are being concluded, is for only one purpose which is to demoralise the voters, especially the youth,” Khan revealed. But, he urged that they must not be disheartened, as Allah is the ultimate planner. “Our most powerful and meaningful weapon is that of our vote, and we must wield it to overthrow crooks who have been imposed upon us,” he concluded. TOSHAKHANA CASE VERDICT: An accountability court judge on January 31, found Imran and his spouse, Bushra Bibi, guilty of misusing states’ gift repository and sentenced them to 14 years in prison. The court also slapped a fine of Rs787 million each on the accused individuals in what is being described as the most swiftly concluded trial in accountability courts’ history. CYPHER CASE VERDICT: The special
court established under the Official Secrets Act awarded on January 30, Imran and former foreign minister Shah Mahmood Qureshi 10 years imprisonment in the highprofile cypher case. The court, presided by Judge Abul Hasnat Zulqarnain, announced the verdict during the hearing held within the premises of Rawalpindi’s Adiala jail. Before sentencing Imran, the judge asked the former premier one last time where the cypher was. “I have mentioned in my statement that the Prime Minister House’s security was not my responsibility. I don’t have the cypher,” he stated. The judge also provided the two PTI leaders with copies of the statement and the questionnaire under Section 342 and both accused were asked to record their replies in the questionnaire. After Imran and Qureshi recorded their statements under Section 342, the court announced its verdict. IDDAT CASE HEARING: Khawar Maneka, the former husband of Bushra, has made damning accusations against Imran during the ongoing hearing of the ‘un-Islamic’ nikkah case at Adiala jail.
Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk
In a heated courtroom exchange, Maneka claimed that the illicit relationship between Bushra and Khan started during the 2014 sitin, accusing Khan of ruining his home. The incident unfolded before Judge Qudratullah, who presided over the proceedings. Tensions ran high during the hearing, with Maneka, Khan and Bushra engaging in a quarrel. Despite the turmoil, Maneka managed to record his statement. Bushra’s lawyer, Usman Riaz Gul, cross-examined Maneka, leading to further confrontations. Gul allegedly attempted to physically assault Maneka, threatening to throw him out of the courtroom. Imran Khan, addressing the judge, expressed his willingness to take an oath on the Holy Quran, challenging Maneka to do the same. Imran insisted that he first saw Bushra Bibi on the day of their marriage and claimed that the accusations against him were false. Maneka vehemently denied Imran’s statement, accusing him of destroying his home and urging the latter to fear God. The court considered the possibility of both parties taking oaths on the Holy Quran, emphasising that after doing so, the right of cross-examination would cease.
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