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PML-N OFFERS ‘LUCRATIVE PACKAGE’ TO PPP PTI scores triple century in National, FOR COALITION GOVT IN CENTRE, PUNJAB Provincial Assemblies Monday, 12 february, 2024 I 1 Sha'ban, 1445

Rs 20.00 | Vol XIV No 224 I 8 Pages I Lahore Edition

ELECTIONS 2024

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Bilawal Bhutto Zardari convenes party ’s CEC meeting to discuss govt formation today

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ISLAMABAD

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MQM-P convener denies having discussion on government formation after meeting with Nawaz Sharif

Staff RepoRt

HE political wheeling and dealing intensified as the Pakistan Muslim League-Nawaz (PMLN) has reportedly offered a ‘lucrative package’ to the PPP in a bid to secure support for the formation of governments in the centre and Punjab.

According to sources privy to the development, the PML-N has offered it “rival in the electoral arena” – the PPP – Presidency, National Assembly (NA) speakership, and Senate chairmanship to secure its support for the formation of governments in the centre and Punjab.

In this regard a meeting held between the delegations of both the parties in Lahore to finalise a “power sharing formula” as the PML-N wants to get premiership and the slot of Punjab Chief Minister.

According to leadership of both the

parties, it is a desperate situation for both of them as according to the ECP’s final results, no party has secured even a simple majority and the PTI-backed independent candidates are leading the race with 101 seats in the National Assembly.

According to the news channel’s re-

port, PML-N proposed three key constitutional positions to the PPP in exchange for its support in both the centre and Punjab.

The PPP was offered the positions of president, speaker of the National Assembly, and chairman of the Senate. Additionally, PML-N agreed to concede the Balochistan

‘Daylight robbery’ on public mandate to impose PDM-2 unacceptable: PTI ISLAMABAD

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) Spokesperson strongly rejected the ongoing malicious attempts and shameful drama to tamper with the results to convert PTI’s overwhelming majority into a minority to impose the people-rejected PDM-2 on the nation once again.

PTI spokesperson, in a strongly-worded statement on Sunday, vehemently denounced the reprehensible plot to deprive people of their genuine representatives, as efforts were afoot to steal the public mandate and re-imposed the gang of criminals on the nation. He made it clear that the people of the coun-

try would not accept any such nefarious plan and they would safeguard and protect their mandate come what may.

PTI Spokesperson demanded the immediate resignation of the Chief Election Commissioner and members of the election watchdog, who worked as main facilitators in the daylight robbery on public mandate. He said that the Chief Election Commissioner and member of the ECP did not have any right and moral justification to say anymore on their position since they completely failed in performing their constitutional and legal duties, as they even did not have any regard and respect for the constitution and law.

President urges respect for public mandate ISLAMABAD

Staff RepoRt

Pakistan President Arif Alvi on Sunday said on Sunday that a “true mandate” is essential to steer the country of the quagmire of crises, as the election commission announced the final result of the general elections.

President Alvi in a statement congratulated the nation, especially women and youth, for “coming out in huge numbers, withstanding all pressures and standing up for democracy.”

“A true mandate is essential to come out of the severe financial crunch, to make difficult decisions, to repair, and to heal the bitterness of the past,” he said.

According to the ECP’s tally of seats, independents, mostly backed by Pakistan Tehreek-e-Insaf, won 101 of the 264 seats.

The independents were followed by the party of for-

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mer Prime Minister Nawaz Sharif, which won 75 seats, while ex-Foreign Minister Bilawal Bhutto Zardari’s party got 54. But it is not clear who will form the government as 169 seats, including reserved seats, are required for a simple majority in the 336-member lower house, or the National Assembly.

“We must celebrate this effervescent new focus and show it to the outside world. My confidence in our brilliant future has been strengthened as the people have not only spoken but have shouted out their will,” he said, adding: “Nothing can crystallize unless this huge mandate of my citizens is respected and recognized.”

He urged the politicians, political parties and institutions to must embrace this “God sent opportunity,” show unity repair and build the country.

Pakistan has seen political and economic turmoil in recent years, while terror incidents targeting security forces have also seen a spike.

ECP withholds results of 26 seats over mounting rigging complaints

ISLAMABAD

Staff RepoRt

The Election Commission of Pakistan (ECP) on Sunday held back the announcement of the final results of 10 National Assembly and 16 provincial assembly constituencies due to a large number of rigging complaints.

The electoral watchdog also ordered re-polling at 53 polling stations of three constituencies on Feb 15.

The ECP took up dozens of petitions, challenging the election results of various national and provincial assembly constituencies. Simultaneously, several other petitions were also filed in different high courts, which would be taken up on Monday.

The ECP reserved a decision over a plea of former prime minister Nawaz Sharif, seeking a restraining order over final notification on the NA-15 Mansehra-II election result. A four-member bench of the ECP headed by the chief election commissioner heard the case.

The counsel of Nawaz Sharif said that Farm 45 of 125 polling stations of the NA-15, Mansehra constituency were not issued. Kala Dhakka area of the constituency has been very backward and means of communications have been disturbed due to snowfall in the area, Sharif’s counsel said.

The counsel alleged that presiding officers had pushed out polling agents “It is the election commission’s

responsibility to ensure transparent election,” lawyer argued. “The elections were not transparent in NA-15,” Nawaz Sharif’s counsel claimed.

“The Farm 47 could not be issued without Farm 45,” he said. He pleaded for restraining final issuance of final notification of NA-15 result.

“Are you saying the election was not transparent,” ECP’s KPK member questioned. “The election in this constituency was not transparent,” lawyer said. According to unofficial results from all polling stations in the constituency, independent candidate Shahzada Gustasap Khan won the seat with 105,249 votes. Nawaz Sharif remained second with 80,382 votes.

While hearing the petitions, the ECP barred the returning officers concerned not to issue the notification of the success of any candidate from NA-15, Mansehra, NA-28, NA-49 and NA 50 in Attock, NA-55, Rawalpindi, NA-63 and NA-65 in Gujrat, and NA-47 and NA-48, Islamabad.

Similarly, after hearing the petitions, the ECP stopped the announcement of results of against the results of the Punjab Assembly’s constituencies of PP-73, PP-79, PP80 and PP 82 and others. The results of PP-11, PP-20, PP-14, PP-16, PP-31, PP-33, and PP-59 have also been challenged.

Meanwhile, after objections from candidates and the matter being taken to the courts, the ECP halted the results of Khyber-Pakhtunkhwa Assembly’s constituencies of PK-73, PK-79, PK-80, and PK-82. From Balochistan, the result of PB-1 had been challenged.

Moreover, the ECP withheld the results in NA-88 Khushab, PS-18 Ghotki-I, and PK-90 Kohat-I and directed re-polling at 53 polling stations in these constituencies. The results of these constituencies would be announced after re-polling on February 15, a spokesperson said.

In Sindh, Jamaat-e-Islami Karachi Ameer Hafiz Naeemur Rehman said on Sunday that his party would challenge Karachi’s election results in the Sindh High Court on Monday. He added that he would also write a letter to Supreme Court Chief Justice Qazi Faez Isa on the matter.

Chief Ministership to the PPP. Furthermore, the PML-N also reportedly extended an offer to the PPP for the position of deputy chief minister or senior minister in Punjab.

Both parties have agreed to continue negotiations after discussing the matter in their respective Central Executive Committee (CEC) meetings.

The Election Commission of Pakistan (ECP) on Sunday announced the complete and final results of the general election 2024 held on February 8.

According to a press statement issued by the ECP, the election results announced for the National Assembly (NA), or the lower house of the parliament, independent candidates secured 101 seats, the Pakistan Muslim League-Nawaz (PML-N) of ex-prime minister Nawaz Sharif secured 75 seats, and the Pakistan People Party Parliamentarians (PPP) of former foreign minister Bilawal Bhutto Zardari got 54 seats.

The Muttahida Qaumi MovementPakistan won 17 seats, and the Jamiat Ulama-e-Islam Pakistan (JUI-F) got 4 seats in the country’s national assembly.

Pakistan Muslim League got three, Balochistan National Party and the Istehkam-e-Pakistan Party got two seats each, while Pakistan Muslim League (Zia), Majlis Wahdat-e-Muslimeen Pakistan, Pashtoonkhwa National Awami Party Pakistan (PkMAP), Balochistan Awami Party, the National Party and Pakhtunkhwa Milli Awami Party secured one seat each.

Leaders from a number of political parties are holding meetings, apparently in the hope of gathering sufficient numbers to form governments in the Centre and the four provinces.

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LAHORE

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) has emerged as the sole party to have clinched 300 or more seats all across the national and provincial assemblies.

According to the Election Commission of Pakistan (ECP) count on Sunday, the PTI-backed independent candidates have secured 95 seats in the National Assembly, 116 in the Punjab Assembly, 83 in Khyber Pakhtunkhwa, and 11 in Sindh. With a total of 305 seats, the party has established a commanding presence in both the national and provincial legislatures, surpassing all other political contenders. Notably, the Election Commission has announced official results for 257 seats of the National Assembly. Independent candidates backed by PTI have emerged as the largest group in the National Assembly, securing 95 seats, outnumbering other independent members by a significant margin. The runner-up in the current electoral arena is the PML-N, which has gained 76 seats thus far, followed by the People’s Party with 54 seats, and MQM Pakistan with 17 seats.

Additionally, Muslim League-Q and JUI-F have secured 3 seats each, IPP two seats while MWM, PML-Z, PMAP, PNAP clinched victory on one NA seats each. Responding to the released results, PTI spokesperson Rauf Hasan has raised allegations of seat misappropriation, asserting that approximately 60 seats have been unjustly taken away from the party. Promising to reclaim these seats through legal recourse, Hasan emphasized their commitment to presenting compelling evidence before tribunals and potentially the courts if necessary. He highlighted the absence of Form 47 in certain constituencies as a procedural hurdle, vowing to pursue all available legal avenues to secure their rightful share. Furthermore, Hasan affirmed PTI’s determination to uphold their party’s legitimacy and safeguard against any attempts at electoral manipulation. He underscored the meticulous selection process for independent candidates, contrasting it with the alleged unethical practices of rival parties. With legal challenges looming, PTI remains resolute in their pursuit of electoral justice and preserving the integrity of democratic processes.

02 NEWS

GOVT LAUNCHES BRIDGESTART PROGRAM TO BOOST PAKISTANI STARTUPS GLOBALLY

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news Desk

HE caretaker Minister for Information Technology and Telecom, Dr. Umar Saif, announced that the government has approved BridgeStart, a program designed to fund 100 startups annually for incubation or acceleration at any of the top 40 incubators and accelerators worldwide.

“Great news for Pakistani startups with global ambitions. We have approved

BRIDGESTART TO FUND 100 STARTUPS ANNUALLY, FACILITATING ACCESS TO TOP INTERNATIONAL INCUBATORS AND ACCELERATORS, SAYS UMAR SAIF

a new program called BridgeStart, which will fund 100 startups each year to be incubated or accelerated in any of the top 40 incubators or accelerators worldwide,” Dr. Saif stated in a social media post on platform X.

Death anniversary of iconic HR advocate Asma Jahangir observed

Drawing on experiences from Plan9 and the Eight National Incubation Centers (NIC), Dr. Saif noted that startups gaining access to renowned incubators like YCombinator, Capital Factory, and 500 Startups experienced rapid growth by tap-

ISLAMABAD

Sixth death anniversary of iconic human rights advocate Asma Jahangir was observed. She was born on January 27, 1952 in Lahore to human rights pioneer Malik Jilani. Asma Jahangir’s fearless and tireless struggle for democracy and human rights and her humanitarian role for women and lawyers will always be remembered. She was posthumously awarded the Nishan e Imtiaz.

Asma Jahangir died on this day in 2018.

Lahore ranked fifth most polluted city in world AQI Ranking LAHORE

staff RepoRt

The Punjab’s metropolis, Lahore, continued to stay on the table of most polluted cities and was ranked the fifth most polluted city in the World Air Quality Index (AQI) ranking on Sunday. The atmosphere and environment of the provincial capital has become polluted again, despite cold winds continued blowing since early morning with bright sunshine on Sunday. The temperature was recorded at ten degrees Celsius, while the weather is likely to remain dry-polluted in the next 24 hours.

The Meteorological Department said that the maximum temperature in the city is expected to go up to 21 degrees, the humidity in the air is 90%, the wind is blowing at a speed of five km, and there is no chance of rain in the next twenty-four hours. Lahore ranks fifth in the global air pollution ranking, with an overall air quality index of 192. Meanwhile, on the instructions of Commissioner Muhammad Ali Randhawa, the action was continued against the violation of anti-smog orders. Multiple trash-burning furnaces have been demolished for using old technology, while others were extinguished. The Punjab Environment Protection Department also launched various initiatives to control smog, under which smog dissolution “weather generators” have been installed in the city.

EPD Director Naseem-Ur-Rehman Shah said that anti-smog generators were operating successfully in Dubai and Russia, adding a weather generator is capable of dissolving smog or a thickly polluted environment in a ten square kilometer area, APP reported. The EPD director said that all possible steps, including generators, were being taken to control the polluted air. Short- and mediumterm projects have been prepared in this regard. He said that it was necessary to reduce the emission of harmful gases and use modern technology to control air pollution.

Moreover, the EPD’s anti-pollution squad sealed various smoky units in Lahore. The anti-smog squad is also imposing fines worth millions on units and factories responsible for creating smog.

Newly-elected PPP candidate arrested on terrorism charges

KARACHI

staff RepoRt

Caretaker govt targets efficiency with electricity market reforms PROFIT

MonitoRing Desk

staff RepoRt

ping into more developed ecosystems and funding sources.

However, he acknowledged that many startups were unable to participate in such programs due to a lack of resources for travel, lodging, and other expenses associated with programs abroad.

Through BridgeStart, Dr. Saif explained, the government will provide up to Rs 5 million to startups that qualify for these top 40 international programs, offering a significant boost to their global ambitions.

Monday, 12 February, 2024 | LAHORE

The caretaker government has directed the Power Division to amend the National Electricity Act of 1910, aiming to modernize the power sector and introduce a competitive electricity market.

This move targets the establishment of the Competitive Trading Bilateral Contracts Market (CTBCM), enabling private consumers to buy electricity directly from producers, a shift from the current system where all consumers are tied to the national grid, known for its inefficiencies and theft.

The National Electric Power Regulatory Authority (Nepra) has been working towards opening up the market with the CTBCM model, but progress has been sluggish. To address this, the Cabinet Committee on Energy (CCOE) has formed a committee to focus on wheeling charges – fees for using the grid to supply electricity from producers to consumers – and to provide recommendations swiftly.

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POWER DIVISION IS ALSO TASKED WITH CONDUCTING AN INTERNAL ASSESSMENT WITH INDUSTRY STAKEHOLDERS

The Power Division is also tasked with conducting an internal assessment with industry stakeholders, with findings to be submitted by mid-February 2024. This is part of a broader effort to transition from the existing single buyer model to the CTBCM, aiming to reduce losses and improve efficiency in the electricity supply chain.

The CCOE has expressed strong interest in these reforms and will directly monitor the implementation of the CTBCM plan, requiring the Power Division to submit monthly progress reports. This initiative marks a significant step towards revitalizing Pakistan’s power sector through regulatory updates and market competition.

Pakistan may face more economic misery if election result unclear g

COUNTRY WILL BE ENTERING INTO MORE SEVERE POLITICAL AND ECONOMIC INSTABILITY IF NO PARTY EMERGES WITH A SIMPLE MAJORITY, ANALYST PROFIT

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The possibility of a political stalemate in Pakistan leading to delays in both reforms and crucial foreign funding has sparked a selloff in its international bonds and fuelled analysts’ fears of further economic misery for the country.

Results coming in from Thursday’s election saw an unexpectedly strong showing for independents – mostly supporters of jailed former prime minister Imran Khan – trailed by former prime minister Nawaz Sharif’s Pakistan Muslim League-Nawaz (PML-N) and the Pakistan People’s Party of Bilawal Bhutto Zardari.

Sharif has already claimed victory, but his party remains far short of the necessary number of seats to form a government on its own.

The election, which was itself much delayed, comes at a pivotal moment.

Pakistan is in an economic crisis, with dwindling foreign currency reserves that will be further strained by a $1 billion bond payment due in two months, while its $3 billion funding programme with the International Monetary Fund expires on April 12.

“Pakistan will be entering into more severe political and economic instability if no party emerges with a simple majority,” said Sajid Amin of the Sustainable Development Policy Institute, a former adviser to the ministry of finance.

“But most important is credibility of elections and legitimacy of the government – any government which lacks credibility will not be able to deliver on much needed reforms.”

Securing funding will be a top priority, with the country having not yet fully covered its external financing requirements for 2024 and its near $100 billion external debt burden casting a long shadow over the A new government is expected to quickly take the necessary steps for example on governance of state-owned enterprises to complete the last remaining review of the current $3 billion IMF Standby Arrangement – a bridge loan that helped pull the country back from the brink of default.

Doing so would secure it a final $1.1 billion tranche before the current IMF programme expires in mid-April – with the government then having to secure a follow-up programme straightaway.

“We expect one of the most immediate policy initiatives taken by the new government will be to negotiate a new IMF Extended Fund Facility program, which typically runs for about 3-4 years,” said Johanna Chua, global head of emerging market economics at Citi in a note to clients.

DEADLINES APLENTY While the country’s international bonds make up just 3.4% of its total public debt – dwarfed by the near 13% it owes to China, external debt amortisation is high in percent of FX reserves, according to calculations by Oxford Economics.

China is a major creditor for Pakistan and has in recent times rolled over loans to the country, as have the United Arab Emirates and Saudi Arabia.

“Investors will be worried about protests, worried that Imran Khan

might end up coming back and worried that a non-Khan government will find it harder to push through further austerity – which is required given the IMF deal expires in April,” said Charlie Robertson, head of macro strategy at asset manager FIM Partners.

Political fragmentation might make it harder to push through painful and unpopular but necessary measures such as widening the tax base, analysts said.

Should the unrest and demonstrations that Pakistan witnessed in the run up to the election continue, this would also have an impact on the economy, said Joe Delvaux, a portfolio manager at Amundi, whose firm is invested in Pakistan bonds. “This is a country that is in and out of political turmoil on a regular basis, so we are monitoring this very closely,” Delvaux said.

Pakistan’s international bonds dropped as much as 5 cents in the dollar on Friday before trimming some losses.

Its sovereign dollar bond due on April 15 trades at 95 cents in the dollar, reflecting expectations that investors will get paid back, but maturities coming due in 2027 and beyond trade at or below the 70 cents in the dollar below which debt is seen as distressed, Tradeweb data showed.

Pressure on the bonds could continue depending on how quickly a government can be formed and how effective it will be able to operate, investors and analysts said, with time running out.

“Our reserves will evaporate in weeks,” said former finance minister Hafeez Ahmed Pasha, who pointed to the current level of FX reserves at just over $8 billion being equivalent to just 1-1/2 months of import cover – well below the minimum three months generally seen as safe. “It’s very important that we have the cushion and the umbrella of an IMF programme, especially before the budget is scheduled in July.”

Irfan Zafar Leghari, a newly elected Member of the National Assembly for the Pakistan People’s Party (PPP), was arrested alongside his uncle Qambar Leghari and fellow PPP member Fayyaz Bhatt in Mehar Tehsil, Sindh.

The arrests were made under the Terrorism Act, casting a shadow over their recent electoral success. According to reports, a case was registered at the Mehar police station accusing Leghari, his uncle, and Bhatt of firing and attacking Pakistani soldiers. The case reportedly involves over 200 individuals, but these three newly elected politicians stand out due to their recent ascent to public office. This development comes amidst ongoing tensions in the region and raises questions about the potential involvement of elected officials in acts of violence. While the full details of the case remain under investigation, the arrests have sparked outrage and debate within Pakistan. The PPP has yet to issue an official statement on the matter. However, the party’s leadership is likely under immense pressure to address these serious accusations and clarify their stance on the alleged involvement of their members in such activities.’ The arrests also raise concerns about the potential for political influence in legal proceedings, particularly in cases related to terrorism. It is crucial that the investigation is conducted transparently and impartially to ensure justice is served and public trust remains intact.

Gilani’s votes increased after recounting in NA-148 MULTAN

staff RepoRt

After the recount in National Assembly constituency NA-148, the number of votes obtained by former PM, Syed Yusuf Raza Gilani increased. Upon the request of Independent candidate Barrister Taimur Malik, the process of verification of Form 45 was carried out in the RO office. Resultantly, Syed Yusuf Raza Gilani secured victory with 67,377 votes, while Taimur Malik remained runner-up with 67,047 votes. According to Form 47, Gilani had defeated Taimur Malik by a lead of 293 votes previously in the first count. After recounting, Gilani’s lead increased to 330 votes.

12-camel convoy loaded with 852kg hashish seized in Gwadar GWADAR

staff RepoRt

The Anti-Narcotics Force (ANF) while conducting an intelligence-based operation recovered 852kg hashish from Pasni city of district Gwadar in Balochistan, reported on Sunday. According to an ANF spokesperson, the Force was informed that 852 kilograms hashish was being smuggled on 12 camels in Balochistan’s Pasni area. Taking an urgent action, the ANF personnel cordoned off the smugglers and recovered drug worth millions of rupees. ANF claimed that it was committed to eradicate smuggling from the country. Last week, ANF while conducting 11 operations recovered over 724 kg drugs and arrested nine accused. 746 grams hashish was recovered from a passenger going to Sharjah from Islamabad Airport. 91 heroinfilled capsules were recovered from a passenger going to Dubai from Islamabad Airport. 159 grams hashish was recovered from two passengers going to China at Karachi Airport.

You win some, you lose some City notes M.a. niazi T wasn’t so much that he lost, as how badly. PPP chief Bilawal Bhutto came in third in NA-127. The winner was the PML-N’s Attaullah Tarar, who got 98,210 votes, beating Zaheer Abbas Khokhar, the PTI-backed independent by 15,980 votes. Bilawal was third with 15,005 votes. In short, he didn’t even get as many votes as Tarar’s lead over Khokhar.

Yet Bilawal, or at least his handlers, claimed that the election had been rigged, not by the conventional means of ballot stuffing and booth capturing, or mass impersonations, but at the level of the returning officer, where the vote totals were tampered with. Now tampering is possible, but on what scale. A narrow result may be reversed, but where there is a lead of 83,000 votes, that is not so easily covered.

I would suspect that somebody from the constituency organization is probably mak-

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ing flustered excuses after first having made extravagant (and unjustified) promises.

After all, perhaps luckily, Bilawal wasn’t really depending on this constituency to get into the National Assembly. He did win two seats, in Qamber-Shahdadkot and Larkana.

However, his loss in Lahore has been blamed by his team as being because of the internet outage on polling day, which is said to have allowed the rigging to take place.

I’ve been following elections since 1988 closely, to try to find out how they are rigged. I haven’t been able to establish how the rigging is done. What I’ve learnt is that if rigging takes place, then it is only on hotly contested seats. How hotly? I really can’t say. But I would trust any margin over 10,000. If anyone thinks that if someone is behind by 83,000 votes, that can be covered, he’s got another think coming.

OLf course, there’s the hardcore argument, which is that this result is what was being planned all along, right from the time that Imran was removed from office. The idea was to give him the sort of shock that he needed. Why does no one accept that the

results were probably fair. Not overall, because there was all sorts of pre-poll rigging.

This is the time when hardcore politicians have to worry. The real question is how many MPAs- or MNAs-elect, who had obtained PTI tickets, but who contested independently, will resist the greater national interest, and suddenly realize that they can’t support those guilty of the May 9 attacks?

Back in 1992, when India was having elections (Rajiv Gandhi was still alive, though that was the election when he was killed), when someone said: “Hum ne kaha Pappu Yadav ko ticket do. Woh chaar panch so booth capture karega, election jeet jaiga.

Magar Pappu Yadav ko ticket nahin diya.”

He was explaining why a particular party was likely to lose a certain seat. Luckily, we had previously avoided candidates like Pappu Yadav. This election, it seems that there have been a few incidents.

NOTE: Pappu Yadav’s ability to capture 400 or 500 booths had nothing to do with government or establishment support. He had developed that ability independently.

The sort of criminalization that has hap-

pened in Indian politics has not occurred in ours. I don’t think anyone can capture a single booth without being helped. Amd I’ve not heard of criminals getting into politics.

Politicians involved in criminal activities, yes. Criminal connections. But actually committing crimes, no. Real crimes, like murder and extortion, not namby-pamby ones like money laundering or income beyond means. The crimes for which Imran has been convicted would be laughed at by any self-respecting Indian politician.

One of the less noticed features of this elections was the return of former Nigerian President Goodluck Jonathan to Pakistan after being here for the D-8 Summit in 2012. He was head of the Commonwealth

Observers Group. I don’t know how effective he was. Because instead of his trademark hat, a fedora tilted back, like an American teenager in the 1950s (does anyone remember Big Moose in the Archie Comics? Yes, that’s it), he sported a sort of baseball cap, as worn by the modern American teenager.

But I don’t know if Maulana Fazlur Rehman’s pain at defeat is any less. I mean, losing is one thing, but losing to Ali Amin Gandapur is painful. And here the haircut factor is important. But by that token, Ali Wazir should have won. He didn’t. Speaking of hair, Latif Khosa won in Lahore, but Safdar Abbassi lost in Larkana. It seems a shining dome can only go so far. Ask Nawaz.

Monday, 12 February, 2024 | LAHORE

‘INTERIM GOVT FULFILLED CONSTITUTIONAL RESPONSIBILITY OF POLLS IN BEFITTING MANNER’

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ISLAMABAD

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ARETAKER Minister for Information, Broadcasting and Parliamentary Affairs Murtaza Solangi on Sunday said the government had fulfilled its constitutional responsibility by holding free, fair and transparent elections in a peaceful manner.

‘Daylight robbery’ on public mandate to impose ‘PDM-2’ unacceptable: PTI

Speaking in a TV talk show on private media, the minister said the caretaker government had extended all-out facilitation to the Election Commission of Pakistan (ECP) in holding the polls. The results of the elections were a testament to the transparency of the elections, he added.

To a query, Solangi said there was a procedure for the transfer of power under the constitution and law. He said the in-

day, he said, adding the citizens’ lives were of paramount importance for the state.

There were threats to the citizens and polling staff, he said in response to another query. “It was important for us to ensure that there was no hindrance to the people’s mobility on the election day. There had always been disputes over the election process and election date, he said recalling such disputes at the time 2018 and 2013 elections.

PML-N offers ‘lucrative package’ to PPP for coalition govt in centre, Punjab CONTINUED FROM PAGE 01

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PTI Spokesperson stated that they opened the door to violating the constitution, flouting the law, tarnishing democracy and desecrating the public mandate. He stated that PTI, being the largest and most popular party in the country, with representation in all four provinces and a decisive public mandate, had the basic constitutional, democratic, moral and political right to form a government. PTI Spokesperson recalled that the rejected and incompetent PDM group was responsible Pakistan’s prevailing economic and administrative disaster. He went on to say that inflation-weary people of the country rejected the clique of criminals by taking revenge through their power of vote three days ago by inflicting crushing drubbing on them. PTI Spokesperson recalled that the PDM 16-month-long inept government compounded the public miseries manifolds, as they skyrocketed the inflation and ruined the fast thriving economy. He made it clear that the people would neither accept any plan to impose criminals on the country nor PTI would allow it do so in any circumstances.

JI mandate in Karachi stolen, says top party leader QUETTA

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cumbent speakers would call sessions of all the assemblies as soon as the official results of the general election conveyed to the respective assemblies officially.

The caretaker governments would be dissolved when the elected Prime Minister and Chief Ministers would take oaths of their positions, he added. The Ministry of Interior had responded to the queries about the suspension of mobile service on election

Jamaat-e-Islami (JI) Balochistan Amir Moulana Abdul Haq Hashmi said on Sunday that JI was on the protest against the election 2024 results as JI mandate in Karachi had been stolen. This he said while addressing a press conference at Quetta Press Club with Zahid Akhtar Baloch, General Secretary, JI, Balochistan; Hafiz Nur Ali, Ameer, JI, Quetta; and Abdul Wali Shakir, Information Secretary, JI, Balochistan. The JI leader said that it was for the first time that two representatives of JI had been elected as members of Balochistan Provincial Assembly after winning seats from Gwadar and Jaffarabad areas of the province. Mr Hashmi said that a protest against the recent election was being staged across the country, adding that JI was also staging the protest against the result of election2024 conducted in Karachi. People of Karachi had rejected a party during previous local bodies election, but the said party had been given representation in Karachi merely to stop the way of JI, he said. Expressing solidarity with protesting political parties of Balochistan, he said that grievances of those political parties.

A day earlier, Nawaz Sharif, in a public speech, invited all the political parties to sit together and form a government to pull Pakistan out of the crisis.

MQM, PML-N LEADERS AGREE TO WORK TOGETHER: Earlier in the day, a delegation of the Muttahida Qaumi Movement (MQM) Pakistan called on the leadership of Muslim League-N at Jati Umra here on Sunday.

An important political discussion was held between Pakistan Muslim League (N) supremo Muhammad Nawaz Sharif and MQM leadership. The party president Shahbaz Sharif, Maryam Nawaz and other PML-N leaders also participated in the meeting. The MQM delegation was led by Dr Khalid Maqbool Siddiqui, Governor Sindh Kamran Tesuri, Dr Farooq Sattar, Mustafa Kamal were included in the delegation. The meeting discussed the future political situation.

According to the party sources, after the meeting between the delegation of Muslim League-N and MQM, the guest delegation has gone back, while the meeting between the two delegations lasted for 50 minutes.

During the meeting, PML-N and MQM decided to form a joint committee for the consultative process of government formation. The representative

Khalid Maqbool Siddiqui said that the talks in the meeting were largely related to public issues and the recently concluded General Elections 2024 “There was no discussion on government formation. We did not demand Sindh governorship or anything else,” the MQM-P convener reiterated.

Khalid Maqbool Siddiqui added that the issues being faced by the people of Pakistan were discussed in the meeting. The MQM-P convener said that all the reports regarding the demand for the Sindh governorship are baseless. “We neither placed any demand before the PML-N nor made any agreement.

PPP'S CEC TO DISCUSS FORMATION OF GOVT: Meanwhile, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has convened a meeting of the party's Central Executive Committee (CEC) on Monday (today).

According to a press release issued by the party secretariat, Bilawal Bhutto has instructed all members of the CEC and senior party leaders to reach in Islamabad for the meeting. The agenda will include discussions on the overall political situation in the country and the formation of the government following the recent general elections.

Bilawal Bhutto is scheduled to hold meetings with other political leaders during his visit to the Federal capital.

committee of both parties will contact other parliamentary parties. Both parties also agreed to contact other parties.

On this occasion, a consultation was also held regarding the newly-elected members of the provincial assembly from Sindh.

Earlier, on their arrival in Raiwand, Pakistan Muslim League (N) supremo Muhammad Nawaz Sharif, President Shehbaz Sharif along with the party leaders welcomed the MQM leaders.

The high-level talks were aimed at laying focus on government formation.

Earlier on their arrival at Raiwand, Nawaz Sharif, Shehbaz Sharif along with other party leaders welcomed the MQM senior leaders. After the general elections 2024 failed to produce a clear winner, political manoeuvring has hit top gear as political parties try to cobble together a coalition government in order to rule with prime focus on wooing independent candidates.

MQM-P DENIES DEMAND OF SINDH GOVERNORSHIP: Meanwhile, MQM-P Convener Dr Khalid Maqbool Siddiqui denied the demand of Sindh governorship during the party’s meeting with the PML-N leadership.

Speaking to media representatives, the MQM-P convener said that matters related to the formation of the government were not discussed in the meeting.

PDP suggests broad-based national govt to stop widening political polarization KARACHI

staff RepoRt

Regretting the widening political polarization following the results of the general election, Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday said that instead of further political infightings, a broad-based national government would serve the nation best to bring economic stability and electoral reforms, especially proportionate electoral system.

He said the nation and country needs a stronger economy which is not possible without a durable long-term broad-based national government. He said all major political parties and winning independent candidates should join hands to steer the country out of political and economic crises.

said this is the way to grow and develop a healthy and sustainable democracy in our country.

Altaf asked to keep the economy supreme over all other political considerations. He said without a strong economy we would continue to live as slaves of the international lenders like the World Bank and IMF. He said agricultural, irrigation and solar energy sectors would need focus of the coming government as these sectors are our game changers. He said every household should have rooftop solar panel systems.

Dozens of big and small dams should be made and vast barren arid lands should be irrigated with drip irrigation and other water saving technologies.

Altaf congratulated all the winners and hoped that they would serve the nation and country to the best of their abilities.

Altaf said we need to prefer the national interests over petty personal interests. He said the results of the general election show that polls were relatively free and fair. He said the victory of the independent candidates shows that there is respect for political dissent in our country which is a healthy sign for democracy. He said youth have played a major role in the recent elections and all political parties should keep in mind that ignoring the voice and aspirations of the youth would go against them.

He said electoral reforms are now overdue. It is a dire need to introduce a proportionate electoral system in our country. He said the present system has served the interests of big mafias and not of the ordinary people. He said we should ensure that the voice of ordinary voters is also heard and respected. He

APHC-AJK holds seminar to pay homage to Maqbool Butt, Afzal Guru ISLAMABAD

staff RepoRt

All Parties Hurriyat Conference Azad Jammu and Kashmir (APHC-AJK) chapter organized a seminar in Islamabad to pay tributes to renowned Kashmiri liberation leaders Shaheed Muhammad Maqbool Butt and Shaheed Muhammad Afzal Guru on their anniversaries.

APHC-AJK chapter Convener Mahmood Ahmed Saghar chaired the seminar.

India executed Muhammad Afzal Gaur on February 9, 2013 and Muhammad Maqbool Butt on February 11, 1984 in the infamous Tihar Jail in New Delhi for playing a prominent role in the freedom movement.

Their bodies were buried in the premises of the prison. The speakers addressing on the occasion said India can never suppress the freedom spirit of Kashmiris with executions, illegal detentions and other cruel tactics in occupied Jammu and Kashmir.

They also reiterated their determination to fulfill the mission of martyrs at any cost.

The speakers said the martyrs are the real heroes of Kashmiris and the great asset of the freedom movement. They said the hanging of Muhammad Maqbool Butt and Muhammad Afzal Guru is a murder of justice and a slap on the face of the Indian judiciary and its entire justice system.

Fundamental principles of justice have been violated by denying the right to trial, they

added They urged the international community and international human rights organizations to put pressure on India to hand over the bodies of Muhammad Maqbool Butt and Muhammad Afzal Guru to the Kashmiris.

The speakers said the best way to pay homage to the Kashmiri martyrs is to remain steadfast and resolutely stick to the path for which they have sacrificed. They said that thanks to the sacrifices of Kashmiri martyrs due to which the Kashmir dispute is echoing in every forum of the world, these sacrifices will never be allowed to go waste. They urged India to read the writing on the wall and give Kashmiris their birthright to selfdetermination. They also called upon the righteous people and organizations of the

world to compel India to hand over the bodies of Maqbool Butt and Afzal Guru to their families for proper burial.

In the seminar, sympathy and solidarity were expressed with the family of deceased Hurriyat activist, Ghulam Muhammad Butt alia Insha Allah Khan, Belonging to Tral area of occupied Jammu and Kashmir.

Muhammad Farooq Rahmani, Ghulam Muhammad Safi, Syed Faiz Naqshbandi, Syed Yusuf Naseem, Muhammad Hussain Khateeb, Mir Tahir Masood, Sheikh Abdul Mateen, Imtiaz Wani, Altaf Hussain Wani, Dawood Yousafzai, Haji Sultan Butt, Advocate Parvez Ahmed, Sheikh Abdul Majid, Gulshan Ahmed, Manzoor Ahmed Dar, Zahid Safi, Abdul Majeed.

NEWS 03

Attique felicitates nation, institutions for conducting peaceful general elections ISLAMABAD

staff RepoRt

President Muslim Conference, Ex-Premier Azad Jammu & Kashmir (AJK), Sardar Attique Ahmed Khan has congratulated the whole nation, all institutions for conducting the general election 2024 in a fair, free and peaceful manner. Talking to overseas Pakistanis and Kashmiris on arrival at Dubai airport on a week-long visit to UAE, he said the future of Pakistan’s democracy is brighter keeping in view the high enthusiasm of the people demonstrated in the Feb 8, general election, said a news release issued here. He said every healthy and positive act on the national level powerfully reflects on Kashmir’s plight. He termed, “Kashmir is an integral part of the Pakistan.” Commenting on Kashmir’s deplorable situation, Sardar Attique made it clear that whatever anti-Kashmir measures perpetrated by India in Indian Illegally Occupied Jammu and Kashmir (IIOJK) are all in flagrant violation of United Nations resolutions. He further said that India must reverse all anti-Kashmir demographic and geographic moves that have been taken since August 5, 2019. “Kashmiris are struggling for the right to self-determination and India cannot suppress its movement through military might,” he added. To a query, he lauded the role of Pakistani and Kashmiri overseas workers in the economic development of UAE.

Young Pakistani Fsahat ul Hassan elected ICYF VP for Asian Group ISTANBUL

staff RepoRt

During the 5th General Assembly of the Islamic Cooperation Youth Forum (ICYF) held in Istanbul, Turkey, Mr. Fsahat ul Hassan, a young Pakistani has been elected as the Vice President for the Asian Group, marking the first representation from Pakistan in the executive board of ICYF. Fsahat ul Hassan secured a twothirds majority vote of the general assembly, surpassing the delegate from Malaysia.

Expressing his gratitude to the members of the general assembly, Mr. Fsahat ul Hassan affirmed his commitment to support and contribute to the vision and mission of ICYF in his capacity as the Vice President. He emphasized his dedication to closely collaborate with members of the Asian Region to foster youth development and unity within the ummah. Taha Ayhan, who was unanimously reelected from Turkey, extended his heartfelt congratulations to Mr. Fsahat ul Hassan on his election and wished him success in his new role. This historic achievement underscores Pakistan’s growing influence and leadership within the international youth community, reflecting Mr. Ul Hassan’s dedication to advancing the goals of ICYF.

Traders express concerns over dacoities in markets MULTAN

staff RepoRt

Tanzeem-e-Tajraan Pakistan expressed concerns over rising incidents of dacoities in city’s busiest markets and demanded of Punjab government to take immediate notice of the poor law and order situation. Chairman of Tanzeem-e-Tajraan Pakistan Khawaja Suleman Siddique along with some other traders stated that the incidents of dacoities created immense trouble for the traders in the city. They stated that they were already facing financial issues due to poor economic activities in the bazaars.

The rise in dacoities have worsen the situation especially at Shujabad road, they added. They demanded of Punjab Chief Minister Mohsin Naqvi to take immediate notice of the situation and instruct law enforcement agencies to trace the dacoits and award exemplary punishment.

The law enforcers should expedite patrol in markets to curb crimes, they concluded.

Market overview: A turbulent week amid elections g

MARKET PARTICIPATION REMAINED LOW WITH INVESTORS SEEKING CLARITY OVER ELECTION RESULTS PROFIT

news Desk

The stock market witnessed a volatile week as the elections overshadowed the economic indicators and corporate news, according to a note by AKD Research.

The KSE100 index, which tracks the performance of the top 100 companies, closed the week at 62,943.74 points, down by 0.09% from the previous week.

The week kicked off on a positive note with hopeful signs from the International Monetary Fund (IMF) regarding Pakistan’s circular debt and power tariff rationalization plans, alongside a reported narrowing of the trade deficit for January. However, the optimism was short-lived as the uncertainty surrounding the election results on Friday eroded the early gains. The preliminary election results took the markets by surprise.

Contrary to widespread expectations, the early outcomes significantly favored PTI-backed independent candidates. This

development sent shockwaves through the Pakistan Stock Exchange (PSX), with the KSE100 index tumbling by 2,300 points at the opening. Although there was a partial recovery later in the day, the index closed the week at 62,943.74 points, marking a modest decline of 0.09%.

Market participation remained low with investors seeking clarity over the election results, as the average daily traded volume further shrunk this week by 2.3% week-on-week, averaging at 3.5 million shares.

Furthermore, the foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $173 million to end at $8.04 billion as at Feb 2nd, 2024.

On the currency front, the Pakistani rupee appreciated by 0.05% week-on-week to close at 279.41 against the US dollar.

The week was not without other significant developments. Notably, the government faced challenges in its auction for Market Treasury Bills (MTBs), securing only Rs64 billion against a target of Rs480 billion.

Amendments to the refineries policy were approved, amidst reports of shrinking exports of services in December and the government borrowing over Rs4 trillion from banks in seven months.

Other major news flows during the week included; 1) Auction for Market Treasury Bills: Government raises only Rs64 billion against Rs480 billion target, 2) Cabinet Committee on Energy approves amendments to refineries policy, 3) Exports of services shrink in December, 4) Government borrows over Rs4 trillion from banks in seven months.

Sector-wise, Synthetic & rayon, Paper & board, and Property were amongst the top performers, up 4.2%/2.0%/1.5% week-onweek respectively.

On the other hand, Leasing companies, Transport, and Textile composites were amongst the worst performers with a decline of 5.2%/2.2%/1.3% week-on-week.

Flow wise, major net selling was recorded by Mutual Funds with a net sale of $5.5 million. Foreigners absorbed most of the selling with a net buy of $5.7 million.

Company-wise, top performers during the week were, i) Pakistan Services Limited (PSEL), ii) Shabbir Tiles and Ceramics Limited (SML), iii) Kohinoor Textile Mills Lim-

ited (KTML), iv) Younus Brothers Limited (YOUW), and v) IBL Funds Limited (IBFL), while top laggards were, i) Pakistan Gum and Chemicals Limited (PGLC), ii) AGP Limited (AGP), iii) Attock Petroleum Limited (APL), iv) Pakistan International Bulk Terminal Limited (PIBTL), v) National Foods Limited (NATF).

According to AKD Research, market outlook would hinge on the end result of the election, with indications pointing towards

a PDM-like government. If this transition occurs peacefully, it could be positive for the market as it would boost investor confidence, especially considering previous efforts by a similar setup.

Overall, the market is currently at levels with attractive valuations, boasting a forward price-to-earnings ratio of below 4x. However, we advise clients and investors to adopt a cautious approach and either maintain or take positions in mainboard stocks to limit risks.

04 COMMENT

Major economic challenges facing the incoming government

Monday, 12 February, 2024

Now for the hard part…

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Politicians are working hard, but a coalition is not yet in sight

OLITICIANS are putting in the sort of hard work which should lead them to forming a government. At the moment, the PML(N) is making the efforts of contacting various other parties as they try to cobble together a government which excludes the PTI independents. The PTI-backed independents are suffering the consequences of their status, because they possess neither anyone able to negotiate, or even a candidate for PM. Another danger has been revealed by the one PTI-backed Punjab independent MPA who has announced his joining of the PML(N). It is one thing for those elected independently without any backing to do so, for that could be seen as a desire to ensure that their vote counted for the reserved seats, but for the PTI members to exploit their independence by shoring up the PML(N) is a truly dangerous trend for the PTI, which may see its ability to manoeuvre, already limited by a host of factors, not least the party chief being behind bars. The PTI should realize that it has won, but has not swept all before it, and has failed to get an absolute majority. If at all it is to form the government, it can only do so with the support of the smaller parties.

Three MNAs have already declared their support for the PML(N), though the PTI-backed independents have so far not broken ranks.

The PML(N) has so far connected the PPP and the MQM, the parties next in size after it in the newly elected Parliament. While understandably details are available of either meeting, it has been learnt that the PPP has asked that Bilawal Bhutto Zardari be made PM. This may be a red line, which will make the PPP refuse to join the government, or it may simply be a ploy to make Asif Zardari’s bid for the Presidency a condition. The MQM delegation, which met Mian Nawaz Sharif himself, is said to have come away with an agreement on basic points.

So far, it does not seem that the negotiations included any content on how the country is to be run, and how the issues plaguing the economy are to be tackled. Those issues are more crucial to the prospective government’s performance than who fills which office, or whose personal ambitions are slaked by returning to which position. If politicians do not rise above themselves at this juncture, they will only have themselves to blame if they further lose popularity.

Climate change is an economic challenge

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Dr Omer JaveD

HE foremost challenge facing the incoming government would be to deal with the existential threat of climate change for both the economy, and society at large.

The fact that this challenge is not only fast-unfolding, but needs meaningful attention to keep average global temperature rise at below 1.5°C, given a ‘Nature’ published article ‘The world has warmed 1.5°C, according to 300-yearold sponges’ recently, pointed out the urgency needed to tackle this issue by indicating that perhaps the desired global warming level of 1.5°C could have already been broken.

The article indicated ‘The planet has already passed 1.5°C of warming, according to a new measuring technique that goes back further in time than current methods. At the 2015 Paris Climate Accords, nations agreed not to exceed 1.5°C, a guardrail of climate change. …The Intergovernmental Panel on Climate Change (IPCC) uses a baseline for pre-industrial global mean temperatures that references the earliest global instrumental temperature records. This period is around 1850– 1900, when the first ship-based records of sea surface temperatures became available. However, McCulloch says that long-lived marine sponges can provide indications of temperature as far back as the eighteenth century.’

Although this global challenge requires a global response, which needs a lot of impetus in terms of mitigation, adaptation, and finance, and if possible, even reversal of the current levels of global warming temperatures, and for which the incoming government should play its part both bilaterally and multilaterally, whereby it should make as much effort as possible at its own end, given the country is among the top ten most climate change vulnerable countries.

Closely related to the climate change crisis is the strong causation it has in terms of the ‘Pandemicene’ phenomenon. Hence, it is important that the country makes much-needed spending for mak-

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

ing the public health sector a lot more resilient, including enhancing capacity to produce vaccines, given the experience of vaccine apartheid during the Covid pandemic.

While for making needed spending requires greater climate compensation by countries with deep carbon footprint, for which the incoming government should play a strong advocacy role, for instance, towards greater inflows reaching the country under the ‘loss and damage’ fund, the policy of overboard monetary- and fiscal austerity needs to be reined-in, while pro-cyclical policy needs to be reversed to counter-cyclical policy.

In this regard, that as the current standby arrangement (SBA) programme with the International Monetary Fund (IMF) is scheduled to come to an end in March, the incoming government should negotiate a non-austerity, counter-cyclical programme with the IMF. For this, the government will have to bring to table the IMF reform plans to increase tax base, and improve expenditure efficiency.

Such a revisit of economic policies away from the current austerity, and pro-cyclical policies, will also put the country in the right direction to meaningfully take the country out of its currently big economic challenge, and which is the stagflationary – low economic growth, and high inflation – situation that the country is going through. Here, the non-austerity policies will allow, for instance, reining in the policy rate so that overboard aggregate demand squeeze policies will be meaningfully reduced to decrease the level of cost-push channel of inflation, in addition to diminishing the cost of doing business at the back of both lower cost of capital, and debt repayment burden, which would likely positively impact aggregate supply. This in turn, will have an enhancing impact on domestic production, and exports, not to mention greater sup-

Babar Nizami Editor Profit

The PDM stint in office cost the PML(N) heavily

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UbaiD Sahil

AKISTAN’S 2024 elections have surprised former three times Prime Minister Nawaz Sharif, with PTIbacked independent candidates winning the majority of the national assembly seats as well as the majority of seats in the KP assembly. The Punjab Assembly has also witnessed tough competition between PTIbacked independent candidates and PML(N).

Up to the last hours before the election polls began, everyone was predicting Nawaz Sharif would become a fourth-time prime minister; however, the delayed election results surprised everyone. Despite nationwide internet disruptions and all odds, the PTI-backed independent candidates have managed to achieve a majority.

Despite all hopes and plans, Nawaz Sharif’s PMLN has achieved less than 100 National Assembly seats. Let’s analyze the reasons behind the unexpected election results.

The PTI-backed independent candidates have achieved such successful results due to multiple reasons. The most notable reason behind the PTI’s poll success is the social media campaigning. They have attracted a majority of youth from across the country to vote for them in the polls. On online platforms, the PTI has portrayed itself as an oppressed victim party.

PTI workers have portrayed the imprisonment of their leadership as a tool to attract sympathy among the youth. Their social media team worked hard to deliver the message of revenge against oppression on social platforms. These tactics helped them greatly in achieving fame among the people.

The conviction of PTI’s leader Imran Khan in multiple cases just a few days before the election has also attracted a lot of sympathy from across the country for him, resulting in a major success in the general elections. Along with Imran Khan, his wife Bushra Bibi and other leaders of the party have also been in prison for the last few months after the violent events of May 9th.

The majority of youth love Imran Khan because he speaks about the things that the youth want. The youth want development, ‘Tabdeeli’ (change), inspiration, motivation, an anti-American narrative, and most notably, the eradication of corrupt elements from the political landscape.

Although he hasn’t delivered on these promises

during his three and a half years in power, the youth still love to hear these chants and hopes of ‘Tabdeeli.’ Another reason is the sentiment of victimhood felt by PTI voters due to oppression and imprisonments.

The diffident rule by the PDM parties before the caretaker set-up, and their failure to deliver, has also left a landscape of hopelessness among the youth, leading them to vote for the PTI. Although the PDM set-up managed to rescue Pakistan from economic default risks, their rule was marked by uncertainty and fluctuations. The high level of inflation during the PDM rule was another reason for voters to choose PTI over any other party, as the youth believes Imran can deliver better than the PDM. Although it is evident that Imran Khan didn’t deliver the best during his rule, people are still hopeful and want to give him another chance.

During the election campaigns, PTI workers faced multiple issues, from internet disruptions during virtual conventions to being disallowed from holding any physical conventions. Despite all the odds, PTI achieved clear success and proved that people don’t vote for past politics but rather for fresh narratives.

Another question that arises here is why the

PML(N) and Nawaz Sharif didn’t gain any prominent majority. This question has several possible answers. Firstly, the PML(N) was overly confident of its success and didn’t campaign hard enough. Their overconfidence led to unexpected results.

Secondly, their social media team didn’t perform as well as the PTI’s. Thirdly, diffident rule by the PDM parties before the caretaker set-up, and their failure to deliver, a few months ago, led by Shahbaz Sharif, contributed to voter hopelessness about the future due to his confused policies and actions. Additionally, the PML(N)’s dependency on the establishment to achieve government and the high level of inflation during its rule were also factors contributing to their defeat.

After the elections, it is expected that PML(N), along with other parties including PPP, can form another PDM to achieve governance. The previous PDM government was already ineffective; another PDM 2.0 could lead to more chaos and hopelessness among the youth. After all, our nation deserves development and prosperity, and achieving them is challenging in today’s landscape, yet they are everyone’s dream.

The writer can at ubaidsa9@gmail.com

be

reached

After the elections, it is expected that PML(N), along with other parties including PPP, can form another PDM to achieve governance. The previous PDM government was already ineffective; another PDM 2.0 could lead to more chaos and hopelessness among the youth. After all, our nation deserves development and prosperity, and achieving them is challenging in todayÊs landscape, yet they are everyoneÊs dream.

Lahore – Ph: 042-36300938, 042-36375965

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Karachi – Ph: 021-32640318 I

The writer holds PhD in Economics degree from the University of Barcelona, and previously worked at International Monetary Fund.Prior to this, he did MSc. in Economics from the University of York (United Kingdom), and worked at the Ministry of Economic Affairs & Statistics (Pakistan), among other places. He is author of Springer published book (2016) ‘The economic impact of International Monetary Fund programmes: institutional quality, macroeconomic stabilization and economic growth’.He tweets @omerjaved7

Fiscal space remains a challenge, which not only requires enhancing domestic resource mobilization effort, and bringing greater allocative and produce efficiency of expenditure, the incoming government will also have to actively push bilateral and multilateral development partners for greater climate compensation, including climate change related yearly provision of special drawing rights (SDRs) by IMF for a number of years.

Insights from the 2024 elections M. A. Niazi

Editor Pakistan Today

ply contributing to lowering inflation.

The economy is facing huge fiscal pressures from inefficiencies of state-owned enterprises (SOEs) overall, which calls for meaningful implementation of the recent legislation towards better management of SOEs, including going for privatization where it is a must, given that SOEs generally are of strategic value, and also provide the opportunity to appropriately serve the welfare of the masses in general, something which is not always the topmost priority of private interests due to the primacy of profit motivation in general for them.

Energy sector reform continues to remain among the top most challenges for the country, given a lacklustre attitude in this direction over the years. Major goals here are not only reducing line losses, improving infrastructure, enhancing performance with regard to collection of bills, but also to transition energy production to renewable sources in an urgent manner, given the fast-unfolding nature of the climate change crisis.

Fiscal space remains a challenge, which not only requires enhancing domestic resource mobilization effort, and bringing greater allocative and produce efficiency of expenditure, the incoming government will also have to actively push bilateral and multilateral development partners for greater climate compensation, including climate change related yearly provision of special drawing rights (SDRs) by IMF for a number of years.

Islamabad – Ph: 051-2204545

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Editor’s mail

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

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

Daughters are blessings

WE live in a society where a female child is despised and the male child is liked. This partial attitude defines the psyche of ignorant people. The robust reason behind this practice is the lack of proper knowledge and the Islamic dignity of girls. Girls are angels and blessings for their parents.

They help their parents in everything, extending from domestic chores to running agriculture. Furthermore, they help parents augment their progeny.

Similarly, a girl is considered an unparalleled endowment from Allah.

Plus, it is often the case that a girl child enormously loves her parents more than a boy child. A boy child becomes easily irritable with parents if his request is not approved. However, a girl is more sympathetic to her parents.

Killing a newborn baby is not a sole murder, but a butchery of humanity. We live in a society where this incident takes place more frequently. The recent occurrence clearly shows the cruel nature of a man against her a girl child. In the province of Punjab, a father killed her sevenyear newly born babies. Such inhumane occasions are swelling each passing day due to utter ignorance.

MUHAMMAD AFZAL SHAIKH GAMBAT

Fragile economy and solutions

AN economic problem generally means the problem of making a choice that occurs because of the scarcity of resources. It arises because people have unlimited desires but the means to satisfy that desire are limited at a greater level. Therefore, satisfying all human needs seems nearly impossible with limited resources. Pakistan is one of those developing countries that is facing economic problems which are delaying the success and the growth of the country.

There are consequently many economic problems in Pakistan which are getting hostile and overwhelming day by day and if they remain unattended then the conditions might even may be propelled towards the worst situation. Through Durandline Pakistan is connected with Afghanistan geographically and was an ally of America in the war on terror, therefore facing great threats and terrorism. A huge part of the budget is spent on this war. War against terrorism is a very important reason behind the economic problem. Another major issue of our country includes a poor academic set-up, the Energy crisis is also a critical economic problem that has affected the growth of the state unfavourably, the load shedding of electricity, petroleum, CNG and natural gas has produced various problems. Resultantly, the mediocre stakeholders have left the country in the lurch.

KOMAL SAMO KARACHI

Salute to nurses

NURSING is a noble profession which requires strong commitment, sense of immolation, for humanity and a great deal of tolerance. A nurse is a person whose job is to care the sick and injured people in a hospital. It is observed that both male and female work as professional nurses but females are in the majority. The profession is more suitability for females since they are more sensitive, caring and tolerance. Nursing is an old sacred profession. Its history is as ancient as that human civilization. The role of a nurse has always been prominent, sometimes as a great nurse”Florence Nightingale” who was known as a lady with the lamp and sometimes as Mother Teresa who devoted her whole life in this holy profession and got the Nobel Prize for her services. Today a nurse gets proper education and taining before entering into this profession. During her training, she has taught how to give medicines and food to patients; how to know about their problems and how to serve them in the best possible ways.

FATIMA FAZAL TURBAT

Web: www.pakistantoday.com.pk

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Email: editorial@pakistantoday.com.pk

COMMENT 05

Monday, 12 February, 2024

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Rethinking the energy Sector’s institutional arrangement The energy sector can’t go on as it is

dr shahid rahim

N a recent article “Fueling development in a turbulent world”, this writer had pointed out that the ongoing conflict in the Middle East had turned the already muddy global energy landscape muddier and more uncertain. Pakistan— a poor country and heavily reliant on imported fuels— must take note of the emerging challenges and reassess its approach to deal with them. One of the suggestions was to review the energy sector’s institutional arrangement and enhance its capability to manage the new challenges effectively.

Below we build this suggestion further and elaborate on why a revisit of the energy sector’s institutional arrangement is necessary and how best we can do it. Admittedly, the treatment is at a high-level only, and not as a cut and dried solution.

As the world around us is likely to remain turbulent in the foreseeable future, uncertainty, unpredictability, and instability are feared to rule the global energy markets.

Pakistan cannot remain insulated from this situation and must rethink its energy vision afresh and reflect the new realities and trends in its policies and plans. This vision should build at least on the following eight strategic strands: (i) deployment of sustainable technologies (including renewables); (ii) shifting of its transport to renewablesderived electricity; (iii) deployment of energy storage technologies; (iv) production of alternative fuels from sustainable sources; (v) switching of industrial processes to electricity wherever practicable and viable; (vi) interconnection of its electric grid with those of its neighbours; (vii) promotion of energy conservation and efficiency improvement in every walk of life; (viii) building a flexible, enabling, and resilient smart electric grid.

The thread that will run through the entire energy supply and delivery system and will hold it together, is the institutional setup (capacity, capability, layout, and governance mechanisms) that is lean, flexible, agile, and responsive to the dynamics of the global energy markets. At present, it does not seem ready for effectively dealing with the emerging challenges. This assessment is based mainly on the following considerations.

The world is gradually phasing out its dependence on fossil fuels and is switching to electricity derived from renewable and sustainable resources. Multiple options now exist both on the supply side as well as the demand side. Small and distributed generation technologies (both conventional and renewables) have now become competitive with their conventional (large and central station) counterparts. Electricity consumers are also no longer captive to their local grids and have multiple options for controlling their demand or meeting it via on-site generation, or both.

These alternatives offer many advantages. Their use can reduce both capital and operating costs by reducing generation reserves, Transmission and Dispatch losses and, in favourable conditions, eliminaing T&D needs. Their nature— small scale, distributed, labour-intensive, less-complex technologies, and compatibility with local conditions— makes them a preferable choice and a means to spur industrial growth and

employment. These will also enhance diversity, sustainability, and security of the system and that of the others dependent on it.

A critical obstacle to making a smooth transition to a sustainable energy future is the deeply entrenched mindset that has evolved around fossil fuel supplies mostly and is proving too hard to banish. Even when these options have become feasible, many in the field still consider them only a complement to the conventional options whereas it should be the other way around.

As the environment around them becomes complex and varied, organizations must adjust, realign, and reposition quickly to remain profitable. Monolithic and bureaucratic organizations with tight vertical hierarchies and centralized control are not feasible, and even restrictive, in a business climate that is punctuated with uncertainty, complexity, and rapid changes, because they impede an entity’s flexibility and adaptability to markets in flux.

During turbulent times, their form, functions, and routines lose value while their leadership, strategy, and competencies gain more importance. Smaller organizations with lateral structures are more capable of creativity, innovation, and agility—three key features of any successful business enterprise.

The effective handling of new challenges also demands a close coordination and collaboration among all energy sector entities, not just in letter but also in spirit.

ThereÊs a lot of catching up by our leaders to do in the energy sector. The existing institutional setup is a classic example of having too many cooks in the kitchen. We need holistic thinking, integrated planning, and close coordination within this sector to effectively deal with the challenges posed by the rapidly shifting global energy landscape. This makes the energy sectorÊs institutional re-arrangement imperative.

Google prepares for a future where search isn’t king

CEO Sundar Pichai tells WIRED that Google’s new, more powerful Gemini chatbot is an experiment in offering users a way to get things done without a search engine. It’s also a direct shot at ChatGPT The most advanced version of Gemini will also be offered as part of a $20 per month Google One subscription package

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Our energy sector seriously lacks these features. For example, activities in the fuel and power sectors were brought under a new Ministry of Energy to improve integration and coordination among them. Both however remain separate without any noteworthy mutual coordination. During the PDM government, we even saw two ministers heading each stream.

We are now living in an information age in which knowledge accounts for over 75 percent of the value-added even in manufacturing. Large and energy-guzzling industries are giving way fast to smaller and knowledgeladen high-value products and services. It’s taking a serious toll on even historically stable businesses like energy supply and delivery.

Gone are the days when energy industries were the apples of investors’ eyes. Due to the natural monopoly status, risks were minimal and returns on investments were guaranteed. The landscape has changed completely. The issues of security, reliability, and sustainability of their dependence on fossil fuels have taken centrestage now, especially if these rely mainly on imports.

The present setup in our energy sector is largely fuel-based, issue-specific, and fragmented. It’s divided into compartments which function in silos. It’s also bureaucratic, inefficient, and lethargic. It lacks the cohesion, harmony, and coordination essential for handling the new demands. It therefore requires a radical transformation by rethinking its mission, objectives, strategies, institutional layout, organizational structures, and governance mechanisms. In short,

WIRED

Lauren Goode

OOGLE’S CEO Sundar Pichai still loves the web.

He wakes up every morning and reads Techmeme, a news aggregator resplendent with links, accessible only via the web. The web is dynamic and resilient, he says, and can still—with help from a search engine—provide whatever information a person is looking for.

Yet the web and its critical search layer are changing. We can all see it happening: Social media apps, short-form video, and generative AI are challenging our outdated ideals of what it means to find information online. Quality information online.

Pichai sees it, too. But he has more power than most to steer it.

The way Pichai is rolling out Gemini, Google’s most powerful AI model yet, suggests that much as he likes the good ol’ web, he’s much more interested in a futuristic version of it. He has to be: The chatbots are coming for him.

Google announced that the chatbot it launched to counter OpenAI’s ChatGPT, Bard, is getting a new name: Gemini, like the AI model it’s based on that was first unveiled in December. The Gemini chatbot is also going mobile, and inching away from its “experimental” phase and closer to general availability. It will have its own app on Android and prime placement in the Google search app on iOS. And the most advanced version of Gemini will also be offered as part of a $20 per month Google One subscription package.

In releasing the most powerful version of Gemini with a paywall, Google is taking direct aim at the fast-ascendant ChatGPT and the subscription service ChatGPT Plus. Pichai is also experimenting with a new vision for what Google offers—not replacing search, not yet, but building an alternative to see what sticks. “This is how we’ve always approached search, in the sense that as search evolved, as mobile came in and user interactions changed, we adapted to it,” Pichai says, speaking with WIRED ahead of the Gemini launch. “In some cases we’re leading users, as we are with multimodal AI. But I want to be flexible about the future, because otherwise we’ll get it wrong.”

SENSORY OVERLOAD: “Multimodal” is one of Pichai’s favorite things about the Gemini AI model—one of the elements that Google claims sets it apart from the guts of OpenAI’s ChatGPT and Microsoft’s Copilot AI assistants, which are also powered by OpenAI technology. It means that Gemini was trained with data in multiple formats—not just text, but also imagery, audio, and code. As a result, the finished modal is fluent in all those modes, too, and can be prompted to respond using text or voice or by snapping and sharing a photo.

“That’s how the human mind works, where you’re constantly seeking things and have a real desire to connect to the world you see,” Pichai enthuses, saying that he has long sought to add that capability to Google’s technology. “That’s why in Google Search we added multi-search, that’s why we did Google Lens [for visual search]. So with Gemini, which is natively multimodal, you can put images into it and then start asking it questions. That glimpse into the future is where it really shines.”

Google has also been running a parallel experiment with using AI to remake its core search interface, launching a generative search experience that serves up chatbot-like answers ahead of the familiar list of ads and links.

The company said just a few weeks ago that it doesn’t anticipate a “lightswitch moment” when the generative search experience fully replaces Google Search as we know it. But Google plans to push “the boundaries of what’s possible,” and to think about “which use cases are helpful” and “have the right balance of latency, quality, and factuality,” Liz Reid, vice president and general manager of Search, said at the time.

Like Pichai, she seems to think it’s time to experiment with some radical alternatives to Google’s established model.

Pichai says that Google is focused right now on getting the generative AI experience right, but that he is “open to possibilities around both” paid and ad-supported generative AI experiences. He declines to say whether the paid Gemini offering will remain totally ad-free, but pointed to another Googleowned product where it’s possible to banish ads entirely.

“YouTube has been a very good example of this,” Pichai says, a reference to the paid, ad-free tier that YouTube started experimenting with several years ago. “Ads allow us to give products to more people, but there will be cases of subscriptions that allow people to get a different experience.” He adds, “I can imagine the same user going back and forth between free search and a Gemini subscription.” In other words, generative search would no longer be a side dish to search, but a main menu item—albeit a more expensive one.

CAUTION ADVISED: There’s another big reason why Google might want to charge money for its AI services: It helps defray the massive computing costs associated with training and running a large language model.

“We’re able to project forward over our 25 years—if something on day zero costs this much, then what will it cost to perform the same task a year from now, and so on?” Pichai says. “We’ve factored in the efficiencies we’ll gain on the underlying models, and then we price it in a way that we think makes sense.”

Whatever Google’s motivations behind selling subscriptions to a chatbot, the technology it serves up has to work reliably. Pichai acknowledges that Google Gemini, even the advanced version, still risks hallucinating the way Bard did or as other generative AI apps have. “We want people to be aware of that,” Pichai says. “I think the technology is useful for many people. But it has to be used in the right way and I still have concerns about people relying on it.”

Pichai says, of course, that Google is trying to reduce the models-gone-wild phenomenon. But he also cautions that the word “hallucinate” should be used carefully, and suggests hallucinating was a feature as well as a bug, which is a fascinating rebranding of misinformation. He believes the technology should be grounded in factualness, but if you dial it down too much, your chatbot gets real boring real fast.

A generative AI experience should be “imaginative,” Pichai says. “Like a child who doesn’t know what the constraints are when they’re imagining something.” Kind of like the early days of the web.

Lauren Goode is a senior writer at WIRED covering the business of Big Tech and the industry’s most interesting people. She focuses on the intersection of new technologies and culture, sometimes through experiential or investigative personal essays.

a systematic and comprehensive overhaul.

We need a setup that can steer the country through the turbulent times via a visionled, holistic, and integrated effort. The plethora of existing entities, groups, and functions (within and outside of the Ministry of Energy) have lost their utility, have become functionally obsolete, and are proving only a liability for the nation. The situation therefore seems ripe for establishing a new entity in the energy sector.

This entity (we can term it generically, “The National Energy Commission”), should be carved out from the existing entities, after some trimming, redefining their roles, and reorganizing their functions. This Commission should be entrusted with the responsibility of strategic planning, policy formulation, devising legal, regulatory, and financial frameworks, and any other critical energy issue in the country, with a holistic vision and from a single platform.

This new entity should take guidance from the Ministry on strategic priorities and goals of the government and liaise with the Ministry of Planning, Development, and Special Initiatives in setting a strategic energy agenda for the country and developing the most suitable strategic and five-year plans from the perspectives of energy security, affordability, and sustainability. It should also guide all the other energy-related activities and functions downstream using a soft, arm’slength, and non-interventionist approach.

There’s a lot of catching up by our leaders to do in the energy sector. The existing institutional setup is a classic example of having too many cooks in the kitchen. We need holistic thinking, integrated planning, and close coordination within this sector to effectively deal with the challenges posed by the rapidly shifting global energy landscape. This makes the energy sector’s institutional re-arrangement imperative. The sooner we do it, the better prepared we will be to manage the emerging challenges to our nation’s advantage.

The writer is an independent consultant, specializing in sustainable energy and power system planning and development. He can be reached via email at: msrahim@hotmail.com

Emerging global anarchy?

Many speculate that leadership of the world order is passing from the US to China. But a more likely outcome could be growing world political disorder and anarchy

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GLOBALIST John West

HE United States, Japan and most Western countries are panicking at the prospect of the demise of the “rulesbased world order” that was carefully constructed in the decades following World War 2. This political order provided the foundation for the extraordinary growth in prosperity over this period – especially for China, which is presently contesting this order.

WHY THE RULES-BASED WORLD ORDER IS UNDER THREAT: The most optimistic interpretation is that the post-war world order stands at a turning point for a number of reasons, reflecting both its successes and failures. These include: 1. THE CHALLENGE AND CONTESTATION OF CHINA: The prosperity emanating from China’s model of state capitalism has enabled the Chinese Communist Party to clamp down on domestic society. It has also enabled it to foster spheres of influence worldwide, notably through the Belt and Road Initiative. In the process, it aims to acquire many leadership positions in the United Nations’ system. The proposition that China might become a more open and pluralist country proved to be nothing but a pious hope.

Moreover, Xi’s lamb-like claims that China would become a responsible stakeholder in the world order are largely an exercise in CCP propaganda.

2. THE RETREAT OF THE U.S. FROM WORLD ORDER LEADERSHIP: This retreat got the biggest push under Donald Trump between 2016 and 2020. For example, he withdrew the United States from the World Health Organisation, the Trans-Pacific Partnership and the Iran nuclear deal. Trump also undermined NATO and the WTO and insulted key allies. Worse, he cosied up to obnoxious opponents of any rules-based order like Vladimir Putin and Kim Jong Un. When the COVID 19 pandemic hit the world, Trump’s United States renounced international leadership. He spent much of 2020 denying the importance of the pandemic and insulting China rather than encouraging the world to work together to address the pandemic. All of this is astonishing, not least because the United States led the creation of the post-war order to make the world safe for democracy in the belief that democracies are more peaceful and prosperous. However, Trump seems committed to undermining democracy, both at home and internationally.

3. WESTERN GOVERNMENTS’ RELUCTANCE TO SHARE POWER: Western nations have been reluctant to give emerging powers welldeserved space in the rules-based order. This undermines the credibility of the order.

For example, France and the United Kingdom are jealously hanging onto their unjustified permanent United Nations Security Council seats.

This is denying more deserving cases like India and Brazil (along with Japan and Germany).

In an extraordinary case of political petulance, the United States refused to join the Asian Infrastructure Investment Bank, created by China. While the United States bullied its allies to follow suit, only Japan did so. Another anachronism is that China accounts for about 18% of the global economy, but has only been granted a little over 6% of the voting share in the International Monetary Fund.

WHERE TO NEXT? It is difficult to see a clear resolution to the forces undermining world order.

There are three basic scenarios on offer.

OPTION 1: THE U.S. RISING AGAIN? As early as the decade of the 2000s, there were clear signs that the United States had lost its way as a global leader – with the Iraq and Afghanistan wars and the 2008/09 Global Financial Crisis.

The reaction of the Global South to the Ukraine and Gaza wars reveals a regrettable lack of trust in U.S. global leadership. The United States has lost much political capital that it has little to draw on, even when it might be justified.

President Biden has provided the United States and the world with a return to sane leadership in the midst of an immensely complex array of problems – the Ukraine war, the Gaza war, Chinese belligerence and the United States’ broken society and political system – although he hasn’t been able to reverse all of Trump’s nefarious actions.

Even so, it is far from clear that he will achieve satisfactory outcomes for these problems.

Moreover, the possibility of a return of Trump, or someone of his ilk, to the U.S. presidency casts a dark shadow over the future world order, as does a U.S. Congress which is reluctant to cooperate with the President, whoever that may be.

OPTION 2: CHINA: For its part, China is a problematic case and incapable of world leadership. Domestically, the economy has deep problems. Also, there are many signs of dissension at the top of the leadership, especially in the military.

Internationally, it has very few friends.

Most countries are very wary of China’s coercive behaviour. And major international initiatives like the Belt and Road Initiative have not been crowned with success.

In short, with its actions, the Chinese leadership is actively undermining its own rise in the global order, both domestically as well as internationally.

OPTION 3: MUDDLING THROUGH: In today’s world, we are unable to solve geopolitical problems, the best we can do is to “manage” them.

To achieve a modicum of stability, it will be critical for the West to ensure a balance of power with illiberal forces. But keeping order is increasingly complex in a world where conflict can be waged with a variety of instruments – not only with traditional military means, but also cyber, economic and information tools of warfare.

In sum, the most likely scenario is one of growing global disorder with adverse consequences for the world economy and political stability.

The tell-tale signs of the global anarchy to come range from the conflicts in Ukraine and Gaza, the inadequate responses to climate change, to COVID 19, artificial intelligence as well as rising economic protectionism.

John West is executive director of the Asian Century Institute.

06 NEWS

MALAYSIA’S TOP COURT STRIKES OUT SOME ISLAMIC LAWS IN LANDMARK CASE

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KAULA LUMPUR AGENCIES

ALAYSIA’S top court on Friday declared unconstitutional more than a dozen Islamic laws enacted by the state of Kelantan, in a landmark decision that could affect similar sharia laws in other parts of the Muslim-majority country.

Malaysia has a dual-track legal system with Islamic criminal and family laws applicable to Muslims running alongside secular laws. Islamic laws are enacted by state legislatures while secular laws are passed by Malaysia’s parliament.

A nine-member Federal Court bench, in an 8-1 decision, declared 16 laws in Kelantan’s sharia criminal code “void and invalid”, including provisions criminalising sodomy, incest, gambling, sexual harassment, and the desecration of places of worship.

Chief Justice Tengku Maimun Tuan Mat, who delivered the majority judgement, said

the northeastern state had no authority to enact the laws, as the subject matter was covered under parliament’s law-making powers.

“The essence of those provisions are matters under the federal list, which only parliament has the power to make,” she said.

Kelantan, which lies just south of Thailand in Malaysia’s north, is governed by Parti Islam Se-Malaysia (PAS) which has advocated for a stricter interpretation of Islamic law.

PAS has seen increased popularity in recent years amid growing Islamic conservatism among Malaysia’s majority ethnic Malay Muslims, and is seen as a challenge for Prime Minister Anwar Ibrahim’s multiethnic ruling coalition. PAS holds more seats in parliament than any other party.

The constitutional challenge was filed by a Kelantanese lawyer and her daughter against laws covering sharia offences that were passed by the state and came into force in 2021.

The case has sparked uproar among

some conservative Muslim groups, who fear the challenge could undermine Islam or the sharia courts in Malaysia.

Security was tight around the court complex in Malaysia’s administrative capital,

Putrajaya, as about 1,000 demonstrators gathered outside to protest the case. They prayed and chanted “God is great” as the judgement was delivered. Justice Tengku Maimun said the case did not have anything

Monday, 12 February, 2024 | LAHORE

to do with the position of Islam in the country, only on whether the Kelantan legislature had acted beyond its powers.

“Seen from this position, the issue of the civil court not upholding Islam or the sharia courts does not arise,” she said.

After the judgement, Religious Affairs Minister Mohd Na’im Mokhtar said in a statement the government’s Islamic authorities would take immediate steps to strengthen sharia courts, adding that the Islamic judiciary remained protected under the federal constitution. Kelantan government official Mohamed Fazli Hassan expressed disappointment with the ruling, saying the state would consult with its royal ruler, Sultan Muhammad V, on the decision and further matters of Islamic law. Nine of Malaysia’s 13 states are headed by monarchs who act as the guardians of Islam.

Nik Ahmad Kamal Nik Mahmod, a law professor at Malaysia-based Taylor’s University, said Friday’s decision could have a “domino effect” with sharia laws in other states likely to see similar challenges.

Palestinian refugees in West Bank fear UNRWA closure JERUSALEM AGENCIES

Farmers’ march on New Delhi: Mobile internet service shut in Haryana’s 7 districts CHANDIGARH AGENCIES

The Haryana government has imposed a shutdown of the mobile internet in 7 districts due to the growing tension ahead of the farmers’ march to New Delhi on February 13. The districts where the government has decided to stop internet services include Ambala, Kurukshetra, Kaithal, Jind, Hisar, Fatehabad and Sirsa. According to the order issued by the government, the mobile internet service ban will be implemented in the seven districts from 6 am on February 11 (Sunday) to 11 pm on February 13 (Tuesday). Not only that the borders between Punjab and Haryana in Ambala, Jind and Fatehabad districts will be closed before the Delhi march on February 13. The march has been called by the Samyukta Kisan Morcha (Non-Political) and the Kisan Mazdoor Morcha. Over 200 farmers’ unions will participate in the protest march. The farmers are protesting on issues like legal assurance for Minimum Support Price (MSP), Swaminathan Commission’s recommendations’ implementation, pensions for farmers and farm labourers, farm debt cut and others. Haryana, Rajasthan seal border with Punjab, impose Sec 144. Police and district administration of Ambala have appealed to motorists to use alternate routes or follow the traffic diversions introduced by the police on these routes. (PTI) In addition to sealing the Punjab borders and suspending internet services ahead of the Dilli Chalo call by farmer bodies, authorities in Haryana have enforced prohibitory orders under Section 144 of the CrPC in 15 out of the total 22 districts in the state. According to the restrictions, any protests or marches using tractortrolleys are prohibited in these 15 districts. A police spokesperson mentioned that the media monitoring cell is keeping an eye on mischievous elements. The police have also appealed to the public not to share any unverified content on social media. The spokesperson emphasized, “The law is equal for all, and those who obstruct law and order will be dealt with severely.” The police have urged commuters heading to Punjab to stay updated on advisories released by the Haryana police. After Haryana, now Rajasthan has closed its borders with Punjab at Sadhuwali location in Sri Ganganagar district. Additionally, Section 144 has been imposed in Sri Ganganagar district of Rajasthan, which borders Punjab’s Fazilka, Muktsar, and Bathinda districts. Many farmer unions in Rajasthan had already announced their participation in the Dilli Chalo call by SKM, a non-political organization, and Kisan Mazdoor Morcha.

Even during the agitation against farm laws, farmers from Ganganagar, Hanumangarh, Sangria, etc., participated in the kisan aandolan against the farm laws.

In refugee camps in the Israeli-occupied West Bank, Palestinians relying on the U.N. agency UNRWA for schooling and healthcare fear key services will stop as donors have paused funding over accusations staff members took part in Hamas’ Oct. 7 attack.

Most of the focus on the fate of the United Nations Relief and Works Agency for Palestinian refugees has been on its emergency operations in war-devastated Gaza where it is critical to an aid effort for the enclave’s 2.3 million inhabitants.

But the agency is also a lifeline for Palestinian refugees across the Middle East, including in the West Bank where it serves more than 870,000 people, running 96 schools and 43 primary healthcare facilities.

“If they cut off aid from UNRWA, there will be no help of any kind for residents, especially in refugee camps because they rely on UNRWA,” said Mohammad al-Masri, a resident of Dheisheh refugee camp near Bethlehem.

UNRWA announced last month that it had dismissed staff after Israel presented it with allegations that 12 of its 13,000 employees in Gaza had taken part in the Oct. 7 assault by Hamas fighters who stormed border fences and attacked Israeli towns.

The Islamist militant group killed

around 1,200 people, mostly civilians, and dragged more than 250 back into Gaza as hostages, according to Israeli tallies. Israel’s aerial and ground war in the Hamas-run enclave has killed more than 28,000 people there, health authorities there say.

Accusations against UNRWA have reignited longstanding Israeli demands to dismantle an agency which both sides see as closely linked to a refugee problem dating to Israel’s creation in 1948 that lies at the heart of their decades-long conflict.

Some 700,000 Palestinians, half the Arab population of what 75 years ago was British-ruled Palestine, fled or were expelled, many spilling into neighbouring Arab countries where they and their descendants remain.

The tent camps they lived in after 1948 evolved into built-up townships.

With no lasting settlement to the Israeli-Palestinian conflict on the horizon, they retain the status of refugees, including in the West Bank and Gaza, and assert a right to return to their homes within Israel’s borders.

Israel has always rejected that, saying they chose to leave and have no right to go back. Last month Israeli Prime Minister Benjamin Netanyahu renewed demands for UNRWA to be shut down, saying “it seeks to preserve the issue of Palestinian refugees”.

REFUGEES Daoud Faraj was 10 years old

when his family became refugees.

Now 85, he has lived most of his life in the West Bank’s Aida refugee camp near Jerusalem.

“Cutting off aid will hurt many people. Not only me,” he said, referring to the health services and schools that UNRWA manages in the camp.

The agency has said it hopes donors will review their funding decisions in a few weeks after a preliminary report into Israeli accusations and UNRWA’s handling of them.

It has said that it may run out of funds to operate services by the end of February if funding is not restored.

“It is possible for UNRWA to be forced into the worst scenario, which is a nightmare for us, and it is to stop our operations. Not only in Gaza, (but) in other locations where we operate,” said agency spokesperson Kazem Abu Khalaf.

An internal U.N. investigation has been launched as the United States – the largest donor to UNRWA – and other countries paused funding following the allegations.

Outside UNRWA’s West Bank operations hub in Jerusalem, the city’s deputy mayor Aryeh King spoke at a protest by Israelis demanding that the agency be shuttered.

“It is time that the government of Israel decides to deal with this organisation like an enemy,” King said as demonstrators held up placards reading “Expel UNRWA”.

Britain’s King Charles attends church in first public outing since cancer diagnosis announced SANDRINGHAM ESTATE

Britain’s King Charles attended church on Sunday in his first public outing since announcing last week he had been diagnosed with cancer and would postpone some engagements to undergo treatment. The king, wearing a brown overcoat and carrying an umbrella, waved as he arrived with his wife, Camilla, at St Mary Magdalene church in Sandringham in eastern England. Buckingham Palace announced on Monday that Charles, 75, had been diagnosed with an unspecified form of cancer. The king has been on the throne for less than 18 months following the death of his mother Queen Elizabeth. Charles, who is spending time at his rural Sandringham estate, issued a message on Saturday expressing gratitude to well-wishers following his diagnosis. While undergoing treatment, Charles has postponed public engagements but is planning to continue with much of his private work as monarch including having his weekly audience with the prime minister and dealing with state papers. The cancer was discovered when Charles stayed three nights in hospital last month, undergoing a corrective procedure for a benign enlarged prostate.

Trail of destruction and criminality follows Gaurav Srivastava’s Family Foundation WASHINGTON AGENCIES

Investigation shows that Gaurav Srivastava, an American-Indian conman who has been involved in corruption, fraud and intimidation, used a donation to the Atlantic Council to clean up his image through his so-called charitable organisation.

Evidence gathered by investigators throws a new light showing that the Atlantic Council think tank has been the only non-profit organization to whom the Gaurav and Sharon Srivastava Family Foundation made a contribution. It is believed that the Atlantic Council was used as leverage for Gaurav and Sharon Srivastava to whitewash their reputation, as well as to approach wealthy targets.

Pictures of Srivastava next to Washington ‘establishment’ personalities like General Wesley Clark and Atlantic Council chief Fred Kempe act as props for Srivastava to claim that he is a serious figure – when in fact he is a fraudster.

The Atlantic Council has also been questioned for accepting donations without

conducting any due diligence checks. The think-tank has not responded to questions on the growing scandal around their donor’s conduct, including threats to journalists, a series of frauds and the abuse of Google and Tumblr.

According to our investigation, the Gaurav and Sharon Srivastava Foundation does not function as a real non-profit organization or foundation but only acts to disguise the Srivastava couple as philanthropists. In fact, the Foundation was registered as a “corporation” in Delaware State on 12 October 2022, whereas it falsely claimed to have been founded in 2015.

The Foundation is not registered in the US federal tax authority IRS as a charitable organization or private foundation. Neither does the fake foundation comply with the regulation to file Form 990.

According to evidence, the only activity of the Foundation that we have identified was its donation and partnership with the Atlantic Council in November 2022 – a mere month after it was formed. Recently, amid strong accusations of Gaurav Srivastava’s fraudulent

activities, the Atlantic Council has been questioned for accepting funds without a full due diligence check of its donator and the source of his funds.

While the Foundation is said to have been established in 2015, a company named The Gaurav & Sharon Srivastava Family Foundation was registered in the secretive state of Delaware (USA) on 12 October 2022. However, foundations are typically not registered as corporations, and the earliest archives on the foundation’s website only date back to November 2022.

These factors raise doubts about its establishment date and credibility. We have also identified the Foundation applied for its trademark on 23 February 2023, assisted by US attorney Jonathan Berger. The trademark application affirmed that the legal entity type of the Foundation is a ‘Corporation’ – not a charitable organisation.

Although the entity type is shown as “Exempt” in Delaware, the Foundation is not registered in the US federal tax authority IRS as a charitable organization or private foundation. Neither does the

Wall St Week Ahead: Market breadth suggests narrowing rally as S&P 500 hits records PROFIT

REUTERS

As the S&P 500 has soared to fresh highs, fewer stocks have been participating in the rally, stirring worries that recent gains could reverse if the market’s leaders stumble.

Strong market breadth, or the number of stocks taking part in a broader index’s rise – is often viewed as a healthy sign by investors as it shows gains are less dependent on a small cluster of names.

Market breadth was narrow for most of 2023, with the 24% gain in the S&P 500 (.SPX) driven primarily by the so-called Magnificent Seven, a group of heavyweights that includes Meta Platforms (META.O), Apple Inc. (AAPL.O) and Amazon (AMZN.O) Breadth improved toward year end, yet

AGENCIES

some measures show it narrowing once again in 2024. For example, while the S&P 500 is up 5.4% and closed on Friday at a record high, the 10-day average of stocks on the New York Stock Exchange and Nasdaq hitting new highs has fallen to its lowest level since July, data from Hi Mount Research showed.

At the same time, only 62% of large-cap stocks stood above their 50-day moving average as of Thursday’s close, down from 87% in December, data from Thrasher Analytics showed. Meanwhile, the Magnificent Seven have accounted for nearly 60% of the S&P 500’s gain this year, according to Dow Jones Indices.

“We are at a historic extreme in the amount of money in this very small number of stocks,” said Michael Smith, a senior portfolio manager at AllSpring Global In-

vestments. The narrow group of stocks powering the market could make it more vulnerable to swift declines if an earnings disappointment or other issue hits its biggest stocks, said Smith, who owns shares of Microsoft, Amazon and Google-parent Alphabet (GOOGL.O) While most of the megacaps have powered higher this year, shares of Tesla have fallen 22%, the third-worst performer in the S&P 500, demonstrating how quickly the market’s superstars can fall out of favor.

Some investors believe breadth has narrowed partly because markets now anticipate the Federal Reserve will cut rates later in the year than many on Wall Street had expected, forcing an unwind of bets in ratessensitive sectors that could benefit from lower borrowing costs.

The S&P 500 real estate sector, for in-

stance, is down 4.4% year-to-date due to worries about commercial real estate. The Russell 2000 index of small cap companies is off 0.8%. “You had a great rally in some areas of the arket that had been really oversold, in anticipation of the Fed moving quickly in 2024 to cut rates,” said Ed Clissold, chief U.S. strategist at Ned Davis Research. “Now that the market has changed its stance, people are rethinking how much these beaten down areas should rally.”

Fed Chairman Jerome Powell last month shot down hopes for rate cuts as soon as the March meeting, saying the central bank needed more confidence inflation was headed back towards its 2% target.

Overall, markets late Friday were pricing in cumulative interest rate cuts of around 110 basis points by the Fed’s December meeting, down from more than 160 basis

foundation comply with the regulation to file Form 990. This lack of compliance indicates that the Gaurav and Sharon Srivastava Family Foundation is not a real foundation and does not operate for genuine charitable reasons.

Gaurav Kumar Srivastava has been exposed as a fraudster who is involved in large scale scams, some of which include using the name of Central Intelligence Agency (CIA) to make money fraudulently from international businessmen.

The Atlantic Council hosted its 2022 Global Food Security Forum in Bali, sponsored with more than $1 million by the Gaurav & Sharon Srivastava Foundation.

Srivastava joined a panel of experts to discuss global food security, and the Atlantic Council’s President Fred Kempe profusely thanked Srivastava for his generous donation but sources say Kempe had no idea what would happen in the following months. They say that at that time the Project Brazen investigation (https://whalehunting.projectbrazen.com/the-old-im-a-secret-spy-con/) had not published details of corruption scandal into Gaurav Srivastava.

points in cuts anticipated at the end of 2023.

Investors are awaiting next week’s U.S. consumer price data to see if recent strength in the U.S. economy is sparking an inflationary rebound that would likely force further reining in of rate cut bets. There is an argument for sticking with the market’s biggest companies, which often have above-average growth and strong balance sheets. Since 1999, the top 10 companies by weight in the S&P 500 have returned an average of 12.3 percentage points more than the broader index, data from Dow Jones Indices showed.

At the same time, some strategists believe a longer-term look shows that more stocks actually have participated in the rally.

More than half of the 100-plus sub-industries in the S&P 500 are up by 20% or more since the current bull market began in October 2022, analysts Yardeni Research wrote. Technology and communications services are the only ones to have outperformed the broader index, however.

“A few stocks have greatly outperformed the laggards, but many of the laggards likewise have done very well—just not as well,” the firm wrote.

Monday, 12 February, 2024 | lAhoRe

CHINA HELPING PAKISTAN BUILD SMART CITIES THROUGH USE OF AI TECHNOLOGY

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CORPORATE CORNER

Envoy vows to strengthen Pak-Iran ties further on 45th anniversary of Islamic Revolution KARACHI

STAFF REPOERT

Islamic Revolution of Iran and the grand ceremony of the National Day was held in Karachi, and it was hosted by Consulate General of the Islamic Republic of Iran Hassan Nourian, in which a large number of eminent Pakistani personalities participated. According to a statement on Sunday, Sindh Tourism Minister Arshad Wali Mohammad, along with other Pakistani dignitaries, congratulated Iran's Consul General Hassan Nourian, in Karachi on the 45th anniversary of the Islamic Revolution of Iran and National Day. The event was attended by senior officials of the Government of Sindh, several political figures, Shia and Sunni scholars, businessmen, and traders including officials and members of the Pakistan Chambers of Commerce. The Consul Generals of some other countries residing in Karachi also congratulated the government and people of Iran on the occasion of the National Day of the Islamic Republic of Iran. The Consul General of Iran paid tribute to the brave and brave people of Iran in his address. He appreciated the joint efforts of both countries to enhance relations between Iran and Pakistan in political, economic, cultural, military, and other fields.

OGDCL wins semi-final of OGCC T20 Championship ISLAMABAD

STAFF REPORT

The cricket team of OGDCL dominated MPCL in the semi final of OGCC T20 Championship Super 8 Round. MPCL batted first setting a competitive 184 runs in the Semi Final of OGCC T20 Championship played at ARL Ground Rawalpindi which was chased down with ease by Team OGDCL in just 16 overs. OGDCL's batsman Nasir Mehmood played a scintillating innings of 101 runs in just 56 balls, earning the Man of the Match award. He remained unbeaten throughout, anchoring the chase and leading his team to victory. Amir Khan provide valuable support with a well-made 55 runs. Rehan Malik and Muhammad Bilal bowled in style and claimed two wickets each. Team OGDCL clinches victory in an impressive display of grit and determination. The team's enthusiasm and high morale bode well for even greater success in the future.

Congratulations to the Team OGDCL on their welldeserved victory!

New govt will have to take proactive steps to stabilize economy: PIAF ISLAMABAD

I

ISLAMABAD

STAFF REPORT

N the context of the joint construction of the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC), Chinese and Pakistani researchers are helping Pakistan build smarter and safer cities through the use of artificial intelligence (AI) technology.

At the beginning of year 2022, the CPInS Lab was officially established at Pakistan National University of Science and Technology (NUST), with joint efforts of NUST and Guangzhou Institute of Software Application Technology.

At present, various researches are in progress in an orderly manner, Gwadar Pro reported on Sunday.

“We have made great progress in areas such as UAV control systems and AI recognition localization. Our lab is starting the application of smart cities in Pakistan,” Dr. Wu Jun, the Director of CPInS Lab, told Gwadar Pro. “Through this platform, our mature research results could be deeply connected with local projects in Pakistan, providing smart city-related products and intelligent solutions according to local conditions.

We are able to effectively implement core technologies and products such as smart street lights and smart videos to

improve local urban governance ability.”

“Sci-tech cooperation is of great importance to Pakistan’s socio-economic development,” Seemab Latif, Head of the Pakistani side of the lab and Associate Professor at the School of Electrical Engineering and Computer Science (SEECS) at the NUST, indicated that China’s AI industry leads the world, as well as Pakistan’s scientific and technological development has huge potential, thus by deepening bilateral cooperation, Pakistan can make great progress in the field of Sci-Tech, by which own the potential to become an AI development center in South Asia.

According to Latif, that the lab is using technology from China to develop

smart city projects such as efficient traffic management systems and infrastructure monitoring systems in Pakistan.

At present, on the basis of local conditions, the license plate recognition system and intelligent security system developed by the lab have begun to be piloted in Pakistan.

“More Pakistani residents will be able to experience the safety and convenience brought by the application of intelligent systems.”

Up to now, the results of cooperation are mushrooming. Dr. Wu told the reporter that considering that Pakistan is often threatened by floods, scientists from both sides pooled their wisdom to develop an vital result “UAV-assisted

Pakistan fully capable of becoming AI development hub in South Asia BEIJING

edge framework for real-time disaster management”, which provides a more scientific and effective solution for local flood fight.

Apart from bringing technology overseas, talent exchange and training could be said to be another key purpose of establishing the lab. Nowadays, the lab has recruited four outstanding postdoctoral fellows from Pakistan to work in Guangzhou for a long time, and will continue to recruit students in years to come.

“We are working on a variety of exciting projects with Chinese counterparts, including activity detection, gait recognition, automatic license plate detection and real-time recognition, as well as waste management,” said lab researcher Sahar Ershad.

As an emerging economy, Pakistan’s infrastructure is booming day by day. A large number of road cameras and other equipment have not been intellectualized yet, which shows that the CPInS Lab has a great potential in the future.

Generally speaking, the field of artificial intelligence in Pakistan has not yet formed an industry, but the country is never short on sci-tech talents.

“Through further cooperation with China, Pakistan is fully capable of becoming an artificial intelligence development hub in South Asia and the wider region,” Wu concluded, full of confidence.

Political stability essential for smooth economy, high growth: DFPA ISLAMABAD

STAFF REPORT

CPInS Lab Director Dr Wu Jun has said that Pakistan, through further cooperation with China, is fully capable of becoming an artificial intelligence (AI) development hub in South Asia and the wider region.

The CPInS Lab was officially established at Pakistan’s National University of Science and Technology (NUST) at the beginning of year 2022 with joint efforts with the Guangzhou Institute of Software Application Technology. At present, various researches are in progress in an orderly manner.

“We have made great progress in UAV control systems and AI recognition localization. Our lab is starting the application of smart cities in Pakistan,” Dr Wu said in an interview with CEN. “Through this platform, our mature research results could be deeply connected with local projects in Pakistan, providing smart city-related products and intelligent solutions according to local conditions.

“We are able to effectively implement core technologies and products such as smart street lights and smart videos to improve local urban governance ability,” he added. “Sci-tech cooperation is of great importance to Pakistan’s socio-economic development,” Seemab Latif, Head of the Pakistani side of the lab and Associate Professor at the School of Electrical Engineering and Computer Science (SEECS) at the NUST, said.

China’s AI industry, he said, “leads the world, as well as Pakistan’s scientific and technological development has huge potential, thus by deepening bilateral cooper-

07

STAFF REPORT

ation, Pakistan can make great progress in the field of Sci-Tech, by which own the potential to become an AI development center in South Asia.” According to Latif, that the lab was using technology from China to develop smart city projects such as efficient traffic management systems and infrastructure monitoring systems in Pakistan. At present, on the basis of local conditions, the license plate recognition system and intelligent security system developed by the lab have begun to be piloted in Pakistan.

More Pakistani residents will be able to experience the safety and convenience brought by the application of intelligent systems, CEN reported. “Up to now, the results of cooperation are mushrooming,” Dr Wu said.

Considering that Pakistan is often threatened by floods, he said, scientists from both sides pooled their wisdom to develop a vital result “UAV-assisted edge framework for real-time disaster management”, which provides a more scientific and effective solution for

local flood fight. Apart from bringing technology overseas, talent exchange and training could be said to be another key purpose of establishing the lab, he added. Nowadays, he added, the lab had recruited four outstanding postdoctoral fellows from Pakistan to work in Guangzhou for a long time, and would continue to recruit students in years to come.

“We are working on a variety of exciting projects with Chinese counterparts, including activity detection, gait recognition, automatic license plate detection and realtime recognition, as well as waste management,” said lab researcher Sahar Ershad.

As an emerging economy, Pakistan’s infrastructure is booming day by day. A large number of road cameras and other equipment have not been intellectualized yet, which shows that the CPInS Lab has a great potential in the future. Generally speaking, the field of artificial intelligence in Pakistan has not yet formed an industry, but the country is never short on sci-tech talents.

The Disposable Food Packaging Association (DFPA) has said that political stability is essential for smooth economy and high growth, as the newly-elected government that comes into office after general elections would be faced not by only stagflation, and a very difficult debt situation, but will have to make a lot of climate-related expenditure so that the country can meaningfully move towards becoming a climate- change-resilient economy.

DFPA President Ahsan Shahid said that business community is anxious to improve the economic situation in dialogues with the new government because the central thing in dealing with all of these issues is that the economy grows at a meaningfully high rate, and that such growth is inclusive, and green. Ahsan Shahid said that the outlook of global economic risks is also quite challenging, as pointed out by the recently released ‘Global risks report 2024’ by World Economic Forum, which pointed out in this regard as we enter 2024, results of the Forum’s Global Risks Perception Survey 2023-2024 highlight a predominantly negative outlook for the world over the short term that is expected to worsen over the long term. Surveyed in Sept last, the majority of respondents anticipate some instability and a moderate risk of global catastrophes, while another 27 percent expect greater turbulence and 3 percent expect global catastrophic risks to materialize in the short term. Only 16 percent expect a stable or calm outlook in the next two years. The outlook is markedly more negative over the 10-year timeframe, with 63 percent of respondents expecting a stormy or turbulent outlook and less than 10 percent expecting a calm or stable situation. For one, the climate change crisis is getting worse, while the climate finance needed to deal with it is yet to be made available.

The DFPA President said that over-board monetary austerity policies in general have deepened the debt distress of developing countries including Pakistan. The new government will need to revisit this policy with the International Monetary Fund, given a significant influence of supply-side factors in determining inflation in the country, and overboard aggregate demand squeeze policies are not only exacerbating the debt crisis, but also adding to cost-push inflation, in addition to causing unnecessary and significant sacrifice of economic growth for achieving at most some temporary relief from high inflation.

STAFF REPORT

The Pakistan Industrial & Traders Associations Front (PIAF) has stated that the new government will have to take proactive measures to encounter external and domestic challenges, besides stabilizing the economy. In a statement issued here today, the PIAF Chairman Faheemur Rehman Saigol said that the upcoming government should be committed to transforming the economy of the country, as the process of transforming the economy is already underway in the country, acknowledging that structural reforms in every sector takes time.

Incoming govt needs to set economic priorities as fiscal constraints an uphill task: BMP ISLAMABAD

Govt, private sector collaborative efforts essential to revive economy: SAARC CCI LAHORE

STAFF REPORT

SAARC Chamber of Commerce and Industry (CCI) former President Iftikhar Ali Malik Sunday said Pakistan possesses a wealth of resources, skills, and industries that can contribute significantly to the global market.

Speaking to a delegation of traders led by Muslim Khan Buneri here on Sunday, he said collaborative efforts from government, private sector, and civil society are essential to bring about a positive change besides in addition to reviving the economy by placing a special

emphasis on boosting exports. He said through export capabilities, we can not only generate revenue but also create employment opportunities and strengthen our international standing.

He stressed the need for initiating result oriented comprehensive economic reforms that encourage investment, facilitate ease of doing business, and promote entrepreneurship. He said such measures will help rejuvenate various sectors and attract both domestic and foreign investors.He emphasized for establishment of more specialized export zones, offering a basket of incentives to export-oriented industries, and investment in

infrastructure that supports efficient production and transportation of goods.

Iftikhar Ali Malik said Investment in vocational and technical training programs is pre-requisite to empower our workforce with modern skills, making them more competitive in the global market. He said consistent power and gas supply is lifetime for industries, promoting higher productivity and reduced operational costs.

He said we must harness the potential of modern technology to streamline administrative processes, reduce corruption, and enhance transparency, creating a conducive environment for economic growth.

STAFF REPORT

The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has called upon political parties to announce clear and robust economic strategies, as the country has stuck in low economic growth situation, where double- digit policy rate for the last few years, including 22 percent policy rate, has diminished capacity to increase domestic production, and exports, negatively impacting domestic resource mobilization. The FPCCI former president and Businessmen Panel (BMP) Chairman Mian Anjum Nisar pointed out that the new strategies should not only focus on short-term gains but also encompass a long-term vision for sustained progress.

He emphasized that such transparency from political leaders is crucial for instilling confidence in the business community and investors. The BMP Chairman said that the new government that comes into office will have its work sharply cut out as far as the economic challenges are concerned. Coming at the back of fast-unfolding climate change crisis and recent Covid pandemic that pushed millions into poverty with little fiscal capacity of government to provide anywhere near close to what was needed in stimulus spending.

Faiz Festival concludes on promotion of ‘progressive ideology’ note LAHORE

STAFF REPORT

The three-day cultural and literary extravaganza – 8th Faiz Festival, that was held at Lahore Arts Council from February 9 to 11, concluded here at the Alhamra Art Centre, The Mall, on Sunday.

The Faiz Festival concluded with a pledge to spread the social and progressive ideology message of the great poet around the world for generations. The festival promised a cultural extravaganza of literary dialogues, music performances, theatre, book launches, documentaries, dances, drum circles, workshops, open mic sessions and a discussion on the future of Pakistani films. Delegates from around the world arrived for converge of the festival that began with an exhibition, ‘Women Artists of Pakistan’.

According to a statement, the inaugural day featured renowned Qawwals

Saleem and Waseem Sabri. On the second day of the three-day festival, 32 sessions are lined up to explore diverse themes in art, literature, language, politics and po-

etry. On the third and final day, 35 sessions were scheduled, to pay tribute to prominent women from various fields.

The festival reflected delving into

world affairs, societal shifts, politics, literary nuances, linguistics, and events shaping different nations. On the final day, the international festival attracted rather bigger turnout as compared to the inaugural day.

Faiz Foundation Trust Chairperson Salima Hashmi said told the audience that the title of the exhibition had been espoused from a line of a ghazal of Faiz Ahmed Faiz ‘Dil Na Umeed Tou Nahi’ that talks about hope, struggle, resilience.

The exhibition is a homage to the struggle of living women artists, who depict hope and resilience in their works, she said. Arvinder Chamak, a poet from India, who spoke in Punjabi, held Faiz in high esteem. He said he was from Amritsar, a city where Faiz taught. Chamak said he would eagerly wait for the Faiz Festival every year. Besides Faiz’s Urdu poetry, his Punjabi poetry was also full of messages for humanity.

GOVT TO ALLOCATE UPTO RS500M TO FUND STARTUPS FOR INTERNATIONAL INCUBATION

Monday, 12 February, 2024

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NEWS

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BridgeStart program to fund 100 startups each year to join global incubators/accelerators PROFIT

taimooR haSSan

In yet another startup-focused initiative by the caretaker government, the Ministry of Information and Technology is set to launch BridgeStart, a program that aims to fund startups for participation in international incubators and accelerators, with an allocation that can go as high as Rs500 million per year.

In a Twitter post, the caretaker minister

for IT & Telecom Dr Umar Saif said that the recently approved program will fund 100 startups each year to be incubated or accelerated in any of the top 40 incubators or accelerators all over the world.

The minister, who launched the Plan9 incubator of the Governemnt of Punjab while he was heading the Pakistan Information Technology Board (PITB), said that from the experience at Plan9 and National Incubation Centers (NIC) under IGNITE, “We observed that startups

ECP orders re-polling in 53 polling stations of three constituencies ISLAMABAD

Staff RepoRt

The Election Commission of Pakistan (ECP) has directed a re-polling of 53 polling stations in three of the National and provincial assembly’s constituencies on February 15 due to the theft, snatching, and burning of polling material in those constituencies. According to an ECP spokesman, the commission has withheld the results in NA-88 Khushab, PS-18 Ghotki-I, and PK-90 Kohat-I constituencies due to the wastage of polling materials. The results of these constituencies will be announced after February 15.

According to the spokesperson, the Commission has ordered re-polling in 26 polling stations of NA-88, following the burning of polling material by a crowd at the Returning Officer’s office. The commission has mandated the re-polling of 2 polling stations in Ghotki due to the snatching and destruction by unknown miscreants, and 25 polling stations in PK-90 Kohat. Meanwhile, on receiving a complaint of vandalism at a polling station in NA-242 Karachi, the Commission has directed the Regional Election Commissioner to investigate the incident and submit an investigation report to the Commission within three days.

Meanwhile, the Election Commission has summoned the leader of the Istehkam Pakistan Party, Firdous Ashiq Awan, for allegedly slapping a police officer on election duty. The hearing is scheduled for Monday. According to the spokesperson of the Election Commission, the details of the incident were placed before the commission, after which the commission decided to summon both of them for hearing.

PTI-backed candidates winning seats snatched on gunpoint: Babar Awan ISLAMABAD

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) leader Babar Awan addressed the media outside the Election Commission of Pakistan on Sunday stated that worst election rigging happened in the recently held general elections and alleged that number of seats that earlier won PTI backed candidates later snatched on gunpoint. He stated that not only PTI but the entire world condemned and rejected the election day midnight horrible attempt of snatching PTI willing seats. Awan alleged that PML-N head Nawaz Sharif is attempting to secure victory through hidden hands since February 9, claiming that pre-poll rigging persisted for two years. Babar Awan emphasized the controversial nature of the elections, labeling them as the most disputed in Pakistan’s history. He challenged the results in Sargodha and Faisalabad, asserting that PTI candidates emerged victorious in these constituencies. Furthermore, Awan called for the immediate release of PTI founder Imran Khan, urging the President to exercise the power of pardon. Speaking passionately, Awan declared, “Nawaz Sharif gave a victory speech without a vote; we reject the results of February 9. The entire world has denounced these results, but Nawaz Sharif continues to exert force since February 9. We hold the majority with 179 seats, and we refuse to accept the decision of February 9.” Awan criticized the election process, drawing attention to the unorthodox victory speech

by Nawaz Sharif. He stated, “One side was eggplant, and the other side was the billion-dollar man. The eggplant won; the lion lost. Kamal is done. We crossed the double century without a bat. ” Awan insisted that PTI should be allowed to form the government in Khyber Pakhtunkhwa (KP), Punjab, and at the center. As the political tensions rise, the nation awaits further developments in this unfolding controversy over the legitimacy of the recent elections.

which were able to make it to incubators such as YCombinator, Capital Factory, 500 startups etc grew much more rapidly as they were able to successfully tap into a more developed ecosystem and sources of funding.”

“However, a lot of startups could not be part of such a program due to lack of resources for travel/lodging/expenses in a program abroad,” the caretaker minister said.

The minister stated that through BridgeStart, the government will give up to

Rs5 million to a startup that was able to qualify for top 40 international programs.

This translates into a budget allocation of as much as Rs500 million for funding 100 startups for such programs.

The caretaker setup under Dr Umar Saif has had a keen focus on building the startup ecosystem and has the backing of the Special Investment Facilitation Council (SIFC).

In January this year, the caretaker minister launched the first ever Pakistan Startup Fund (PSF).

Under the PSF, the government said that it had allocated Rs2 billion to be invested in startups each year. One of the distinctive features of the Pakistan Startup Fund is its provision of equity-free capital, aimed at supporting startups in closing funding

PTI-backed ‘winner’ among eight independent candidates join PML-N LAHORE

Staff RepoRt

Amid the twists and turns of politics, PTI-backed independent candidate from NA-121 Lahore announced joining the PML-N besides seven other newly-‘elected’ independent candidates of National and Punjab assemblies also joined the party.

According to a video and statement posted on PML-N’s social media account Waseem Qadir, who defeated PML-N stalwart Rohail Asghar in NA-121 (Lahore-V), held a meeting with the Maryam Nawaz in Lahore.

On the occasion, Qadir, who served as the General Secretary of PTI Lahore, expressing full trust and confidence in the leadership of PML-N’s supremo Nawaz Sharif and announced joining the party.

In a meeting with Maryam

Nawaz Sharif, the senior vice president of PML-N, Wasim Qadir discussed his decision to align with the party and shared vision for the constituency.

Wasim Qadir, addressing the media in Lahore, conveyed his decision to join PML-N was a result of extensive consultations with the local populace and allies.

Maryam Nawaz Sharif welcomed Wasim Qadir into the PMLN, expressing gratitude for his decision.

Meanwhile, newly-‘elected’ seven independent candidates of National and Provincial Assemblies joined Pakistan Muslim LeagueNawaz (PML-N).

Independent candidates Raja Khurram Nawaz from NA-48, Barrister Aqeel Malik from NA-54, Pir Zahoor Hussain Qureshi from NA146, Sardar Shamshir Mazari from NA-189 and Barrister Mian Khan

Bugti from NA-253 announced joining the PML-N. Similarly, Khurram Virk from PP-48 and Sohail Khan from PP240 Bahawalnagar also joined the PML-N. Barrister Aqeel in a video message congratulated his supporters and said his seat belonged to Nawaz Sharif, adding, “I congratulate our leadership Mian Nawaz Sharif, Mian Shehbaz Sharif and Maryam Nawaz.”

Raja Khurram Nawaz said he joined the PMLN for the stability of Pakistan and said he would be the part of the new government.

Mian Khan Bugti said, “Nawaz Sharif and Shehbaz Sharif congratulated me on the success, after which I joined the Muslim League (N).” Sardar Shamshir Mazari said, “I decided to join Muslim League (Nawaz) after consulting with my workers and friends.”

Mobile industry urges taxation overhaul for local assembly boost g

Present system encourages import of finished product, says PMPMA ISLAMABAD

ghulam abbaS

Mobile phone manufacturers are optimistic about the upcoming government’s will to rectify key shortcomings in the taxation system. As per them, the system currently allows imports of finished products at zero-rate while imposing heavy taxes on raw materials.

The Pakistan Mobile Phone Manufacturers Association (PMPMA) has penned a letter to the Engineering Development Board (EDB), highlighting that the current taxation regime is impeding the local assembly of mobile phone accessories in the country. They advocate for a cascading tariff structure for mobile phone accessories.

An official of the Association stated that the existing taxation system has deterred the establishment of assembly plants for mobile accessories domestically. However, with new decision-makers expected to assume office soon, the

matter is anticipated to be addressed.

Presently, the import of key mobile phone accessories such as chargers, batteries, cables, and packaging are zero-rated. However, local assembly of these accessories becomes over 50 percent costlier compared to imports due to a 20 percent customs duty on raw materials, along with 18 percent sales tax and 5.5 percent income tax at the import stage.

Amir Allahwala, Vice Chairman of PMPMA, noted that the average assembly and finishing cost is around 10 percent of the total, encompassing energy costs, workspace charges, and labor expenses.

Consequently, mobile assemblers find it more economical to import accessories in finished form.

He emphasized the need for a reversal of the current policy on a long-term basis, highlighting the substantial investments and longterm planning required for local assembly.

Presently, over 30 local mobile phone assemblers produce around 2.5 million sets per month, translating to a demand for up to 30 million chargers annually. Market estimates suggest that between 5060 million mobile phone chargers are sold, with a similar demand for cables, totaling the local demand to around 100 million sets.

Muzafar Paracha, Senior Vice Chairman of PMPMA, emphasized the significant business potential in the sale of chargers and cables, highlighting the need for substantial investments to meet the annual demand of 100 million chargers.

The concerns raised by PMPMA to the EDB will be forwarded to the National Tariff Commission (NTC), eventually reaching the Federal Board of Revenue (FBR) for changes in the tax structure. This reform is expected to ensure the availability of quality chargers, cables, and batteries in Pakistan, ultimately enhancing sector standards.

Sharif’s election victory claim ‘insult to Pakistanis’, says Aleema Khan ISLAMABAD

Staff RepoRt

Aleema Khan, the sister of former prime minister Imran Khan, has described PML-N supremo Nawaz Sharif’s claim to victory as an “insult to Pakistanis”.

“Nawaz Sharif has been sent back. This is how he does it. He spends four years in London. I think it’s a big insult to Pakistanis that we accept people like that. We don’t,” she said in an interview with Sky News. She was asked about the

PML-N supremo Sharif making claims to victory and his speech that the country does not have the space for a fight.

Sharif was the first politician to come out and claim victory in the election after the PML-N emerged as the single largest party in the poll.

He has announced his bid to form a coalition government.

The party has started reaching out to other political parties to make alliances.

“I would be embarrassed as a Pakistani to think that this is accept-

able for us. It isn’t acceptable to Pakistanis,” she went on.

Aleema described her brother as an “alternative” in dealing with the country’s challenges.

She was of the view that her brother inspired a “revolution” in Pakistan from behind bars on February 8. She said lawyers had visited Imran and that he “sent out a very clear instruction that you have to go out, protest outside the returning offices and recover your seats. The ones that have been stolen.”

‘ALLEGED IRREGULARITIES’

US lawmakers ask Biden not to accept Pakistan election results WASHINGTON agencieS

Both Democratic and Republican politicians in the United States have urged President Biden not to accept Pakistan election results until the investigation of alleged regularities.

Claims of interference or fraud should be fully investigated “a spokesperson for the U.S. State Department stated in a statement, voicing worries on the interfer-

ence in the election process.

“We join credible international and local election observers in their assessment that these elections included undue restrictions on freedom of expression, association, and peaceful assembly,” the statement said.

Congressman Brad Sherman, a prominent member of the influential House of Foreign Affairs Committee stated that” press organizations in Pakistan ought to have liberty to disclose

vote tallying and there should not be any needless postponement in declaring the outcome”. Rashida Talib a congresswoman said that we must stand with the Pakistani people because their democracy is seriously at risk. In addition to that the U.S. must make sure the tax monies don’t go to anyone who undermines their right to freely choose their leaders.

They should be able to do so without intervention or meddling. Another con-

gresswoman Ilhasn Omar asked the State Department that there should be independent bodies who conduct investigations regarding the alleged interference in the electoral process until they refrain from recognizing the results.

She further said that I am deeply troubled by the news of meddling and interference in the election result process. The Pakistani people deserve nothing less than a transparent democratic and true representative government.

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rounds, effectively lowering the risk for international investors seeking to invest in Pakistani startups.

If a foreign venture capitalist were to evaluate a Pakistani startup for a $1 million investment, they would only need to invest $700,000. The startup fund would then contribute a grant of $300,000, facilitating the completion of the funding round.

Dr Saif anticipated that this initiative will contribute significantly to the startup ecosystem, aiming to create a yearly value of at least Rs50 billion. Besides the PSF and BridgeStart program, Dr Saif’s numerous IT initiatives also include setting up 10,000 e-rozgar centres for freelancers and allowing IT companies to retain 50% of their earnings.

Govt to audit major economic sectors on IMF advice PROFIT

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The Ministry of Finance, following recommendations from the International Monetary Fund (IMF), has directed the Competition Commission of Pakistan (CCP) to conduct urgent sector-specific studies in a bid to audit major economic sectors to identify entry barriers for the private sector and promote competition. This initiative targets sectors with significant involvement of state-owned enterprises (SOEs), including power, transport & communications, finance, and oil & gas, which covers both liquefied petroleum gas (LPG) and liquefied natural gas (LNG). This audit is part of a broader effort to improve public finance management, address procurement practices that may hinder private sector competition, and enhance oversight of public-private partnerships and SOEs. As per a report by Dawn, these studies are to align with the Public Procurement Regulatory Authority (PPRA) and Public Investment Management Assessment (PIMA) guidelines outlined by the IMF. A technical mission from the IMF has highlighted the importance of these measures in a recent report, noting they are critical for managing public investment risks and will be part of the 2024-25 budget considerations. The IMF has emphasized the need for comprehensive monitoring and coordination to ensure a competitive and transparent investment environment. The CCP’s earlier investigations into LPG and LNG sectors are being expanded to include other areas heavily influenced by SOEs, aiming to implement the IMF’s recommendations to mitigate monopolistic tendencies and facilitate new business entries. This expansion is in response to the private sector’s limited involvement outside of telecommunications, power generation, and certain transport segments. In addition to CCP’s studies, the government plans to form special committees composed of finance, planning ministry representatives, and sector experts to recommend policy adjustments.

Terrorist ringleader killed in Khyber IBO: ISPR RAWALPINDI

Staff RepoRt

The security forces on Sunday killed a high-profile terrorist and ringleader of the outlawed organization Daesh during an intelligence-based operation (IBO) in KP’s Khyber District, the military’s media affairs wing said. According to a press release issued by the Inter-Services Public Relations (ISPR), security forces conducted an IBO on the reported presence of a “high-profile terrorist”. “During the conduct of the operation, after intense fire exchange, high-value terrorist ringleader Surat Gul alias Saifullah of Daesh was sent to hell,” it said. The ISPR said that weapons, ammunition, and explosives were also recovered from the “terrorist commander”, who “remained actively involved in numerous terrorist activities, including targeted killing of innocent civilians as well as extortion and was highly wanted by the law enforcement agencies”. “Sanitisation operation is being conducted to eliminate any other terrorist found in the area. Locals of the area appreciated the operation and expressed their full support to eliminate the menace of terrorism,” the ISPR said.

Yesterday, a police officer was martyred and three terrorists were killed after an ambush on a police vehicle in Darazinda area of Dera Ismail Khan. As per details, Additional SHO Deen Muhammad Sherani embraced martyred when terrorists attacked a police mobile in Darazinda area of DI Khan. The police officials further stated that during the exchange of fire three terrorists were also gunned down. Last week, two militants, including a senior commander, were killed in an IBO in North Waziristan district. On February 5, 10 police officials were martyred and six others injured in a pre-dawn attack by dozens of militants on a police station in Dera Ismail Khan, as violence escalated ahead of the general elections. On February 2, the ISPR said that 24 terrorists were killed during firefights and clearance operations in the Mach and Kolpur towns of Balochistan over three days. The statement had come after 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.

Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk