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Friday, 16 February, 2024 I 5 Shaban, 1445

Rs 20.00 | Vol XIV No 229 I 8 Pages I Islamabad Edition

GEN BAjwA, FAIz ‘OrChESTrATEd’ NO-TruST MOvE AGAINST IMrAN: FAzl NEW PANDORA’S BOX

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SAYS GEN FAIZ ASKED PDM TO DO WHATEVER WE CAN ‘WITHIN SYSTEM’

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ISLAMABAD

SAYS JUI WILL DECIDE FUTURE COURSE OF ACTION SOON

STAFF REPORT

AMIAT Ulema-e-Islam (JUI-F) Emir Maulana Fazlur Rehman on Thursday opened a Pandora’s box about no-confidence motion that ousted former prime minister Imran Khan, alleging that the no confidence motion was tabled by the then PDM parties “on the directives of exarmy chief General (retired) Qamar Javed Bajwa and ex-DG of the ISI Lt Gen (r) Faiz Hameed”.

In an interview on a private news channel, Fazl, who was the chief of the multi-party alliance Pakistan Democratic Movement (PDM) responsible for removing Khan, alleged that General (retd) Faiz also supported the no-confidence motion, claiming, “Gen Bajwa and Gen Faiz gave instructions about the no-confidence motion and PML-N and PPP sealed it. Gen Faiz said that we can do everything within the limits of the system and he had no objection to it.”

He said: “I was personally against the no-confidence move […] but if I had said no despite insistence of other parties, then an impression would’ve been that I ‘saved’ the PTI founder”.

The PDM removed the Pakistan

Tehreek-e-Insaf (PTI) government in April 2022 and led by Shehbaz Sharif, the multi-party alliance ruled the country for 16 months before handing over the reins to the caretaker set-up.

At first, Khan insisted that the US had him removed — a claim that the Joe Biden administration vehemently rejected. However, the ex-prime minister later shifted the blame to Gen Bajwa.

In an interview in February last year, Khan, citing an apparent conversation of the retired general with a journalist, said General Bajwa had “accepted and clari-

PTI names Omar Ayub candidate for PM’s slot, Aslam Iqbal as Punjab CM ISLAMABAD

STAFF REPORT

Former premier Imran Khan on Thursday nominated Omer Ayub as the PTI candidate for prime minister while Mian Aslam Iqbal for the slot of Punjab chief minister. PTI leader Barrister Gohar Khan revealed on Thursday after he along with other PTI leaders held meetings with the imprisoned party chief at Adiala Jail to discuss the current political scenario.

In a media talk outside Adiala Jail on Thursday, Barrister Gohar said Imran had nominated PTI central general secretary Omar Ayub Khan — who is in hiding after facing over 20 criminal charges following the May 9 riots — as the candidate for prime minister.

Meanwhile, Mian Aslam Iqbal was nominated for the slot of Punjab chief minister and deliberation was underway over the nomination of Salaar Khan Kakar as Balochistan CM. Barrister Gohar said Aqibullah Khan — brother of PTI leader Asad Qaiser — was picked for the position of the speaker of the KP Assembly. He said the PTI’s nominations for the National Assembly speaker and deputy speaker would be announced in the upcoming days. Barrister Gohar asserted that the PTI would not engage in powersharing with the PML-N, PPP and MQM-P. “Imran Khan has clearly said that the politics of PTI is not for power-sharing but for the public,” he said.

“The PTI is doing politics for the protection of the public’s rights and believes in the supremacy of the mandate and democracy,” he highlighted. “Therefore, we don’t believe in any power-sharing.”

“We will do strong opposition until our full mandate is returned, but we are in the position to form governments in Punjab, KP and Centre,” Gohar said.

He also said that the party would hold a peaceful protest across the country on Saturday (February 17) against the “marginalisation of the PTI”, claiming that the party had won a “clear mandate” but it was being “snatched”. Barrister Gohar invited all other political parties that were protesting the February 8 election results — specifically naming the Grand Democratic Alliance, Jamaat-i-Islami, Jamiat-i-Ulema Islam-Fazl (JUI-F), Tehreek-i-Labbaik Pakistan and Awami National Party — to join the PTI. He added that the PTI would record a peaceful protest on Saturday afternoon and requested the public to participate in it. “These elections were very critical […] and we won’t let our mandate be stolen.”

Meanwhile, in response to a question, Gohar refuted reports regarding talks with the PPP and a coalition with the PTI-Parliamentarians.

fied that he was behind our government’s ouster”.

After he became the first prime minister to be ousted via a no-trust motion, Khan continued a tirade against the establishment; however, politicians also said that the ex-army chief was involved in the PTI’s ouster.

Fazl, during the interview, said: “While the Pakistan Peoples Party (PPP) was running the movement for a no-confidence motion, Lt Gen (retd) Faiz Hamid told me that I could do whatever I wanted, but within the system”.

The JUI-F chief said Hamid told him that he could not “do anything outside the system” — meaning that every move should be made inside the parliament, not on the streets.

“But I rejected his directions,” he said, but noted that later on, the Balochistan Awami Party (BAP), Muttahida Qaumi Movement-Pakistan (MQM-P), and others left the PTI-led government.

“When they said that [the anti-PTI] is now in majority, I had to agree with them otherwise it would’ve been said that I helped save Imran Khan,” the JUIF chief, who has rejected February 8 election results, said.

The February 8 did not return a clear majority for anyone, but independent candidates backed by Khan won 92 out of 264 seats, making them the largest group, followed by PML-N (79) and the PPP (54).

However, every party, even the PML-N which is seemingly about to form the next government, is unhappy with the election results.

For his party, Fazl has decided to join the parliament, but not become part of the government. “The decisions will not be made in the parliament anymore, they will be made on the streets”.

PTI plans nationwide protest movement against poll rigging

CONTINUED ON PAGE 03

RAWALPINDI

STAFF REPORT

Pakistan Tehreek-e-Insaf (PTI) has taken a decisive stance against alleged election rigging, announcing plans to initiate a nationwide protest movement. Following a meeting with Imran Khan at Adiala Jail, PTI leader Asad Qaiser addressed the media on Thursday, highlighting the purported theft of PTI’s mandate in the election.

Describing the recent election as the worst in Pakistan’s history, Qaiser emphasized the need for concerted action against electoral malpractice.

PTI intends to reach out to parties protesting against rigging and launch a protest movement across the country, with Imran Khan slated to announce the protest date imminently.

Expressing concerns over electoral discrepancies, Qaiser under-

scored the necessity for legal recourse and called upon the Chief Justice to ensure the enforcement of law and order. Allegations of fraud in Form 45 and manipulation of results in Form 47 were cited, coupled with reports of restricted rally permissions and the incarceration of PTI candidates.

Despite the challenges, PTI remains steadfast in its refusal to accept electoral irregularities, opting instead to pursue legal avenues and mobilize public support. Plans for a parliamentary party meeting are underway, underscoring PTI’s commitment to challenging the election results through democratic means.

Petrol price in Pakistan jacked up by Rs2.73 per litre ISLAMABAD

STAFF REPORT

The outgoing caretaker government has jacked up the petrol price

by Rs2.73 per litre to Rs275.62 per litre for the next fortnight, as recommended by Oil and Gas Regulatory Authority (OGRA).

“Government of Pakistan has decided to bring changes in the current prices of Petroleum products for the fortnight starting from 16th

February 2024,” a statement issued by the Finance Division read.

As per the notification, the price of high-speed diesel has also been increased by Rs8.37 per litre to Rs287.33 per litre.

The new prices, as recommended by Ogra have taken effect from this midnight (February 16) and will remain in place till February 29.

The increase in prices of petrol and high-speed diesel was expected after the exchange rate adjustment.

According to official sources, the main hike in fuel prices comes in the wake of the alarming situation in the Red Sea where Houthis are attacking and restricting the movement of oil vessels and other ships.

Last month, the caretaker government increased the petrol price by Rs13.55 per litre in the light of ongoing tensions in Middle East as Israel continues to press war on Gaza.

Pakistan terms election process internal sovereign affair ISLAMABAD

STAFF REPORT

Pakistan on Thursday declared the election process an internal sovereign affair, emphasizing the nation’s commitment to upholding its constitutional obligations. Responding to the queries of media persons at her weekly news briefing in Islamabad on Thursday about the reaction of different countries on the general elections, Foreign Office Spokesperson Mumtaz Zahra Baloch emphasized Pakistan’s democratic nature, highlighting the significant participation of millions of voters, including unprecedented numbers of women and young voters in the general elections.

She mentioned that Pakistan welcomed foreign observers, including a group from the Commonwealth, demonstrating the country’s commitment to transparency in the electoral process.

She said Pakistan takes its constitutional obligations seriously. It is the right of Pakistanis to enjoy freedoms and democracy. She said any step that Pakistan takes in this regard is in conformity with its own constitutional obligations and not influenced by external advice. Mumtaz Zahra Baloch pointed out that the interim report of Commonwealth observer group also highlighted the transparency and participatory nature of the general elections.

When asked about the budget announced by the Indian government for illegally occupied Jammu and Kashmir, the spokesperson said pouring in money in the occupied territory can neither absolve the occupying power from its responsibilities nor can it legitimatize its illegal occupation. She said Jammu and Kashmir is one of the oldest unresolved disputes. It has been on the agenda of the UN Security Council since 1948. She said the UN Security Council resolutions reaffirm the right of self-determination of the people of Jammu and Kashmir.

Voicing concerns over the presence of one million Indian security forces in IIOJK, she said these forces are responsible for suppression of Kashmiri people.

She called for a solution of Jammu and Kashmir dispute on the basis of UNSC resolutions.

When asked about relationship with India, the spokesperson said both the countries have had a difficult relationship over the last several decades. She said Pakistan had always expressed desire to have peaceful relations with all neighbors including India. She however regretted that India has an approach of belligerence towards Pakistan and the region. This, she said, creates a negative environment for peace and dialogue and makes it difficult to have a normal relationship.

ECP dismisses Nawaz Sharif’s plea against defeat in NA-15 Mansehra ISLAMABAD

STAFF REPORT

The Election Commission of Pakistan (ECP) on Thursday dismissed the petition of Pakistan Muslim League-Nawaz supremo Nawaz Sharif against his defeat in NA-15 Mansehra. According to unofficial results from all polling stations in the constituency, Pakistan Tehreeke-Insaf-backed independent candidate Shahzada Gustasap Khan won the seat with 105,249 votes, while Nawaz Sharif remained second with 80,382 votes. Following defeat in the constituency, Sharif challenged the victory notification of Shahzada Gustasap from NA-15.

Sharif in his plea stated that the Form 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,” the lawyer argued.

“The elections were not transparent in NA-15,” Nawaz Sharif’s counsel claimed. “The Form 47 could not be issued without Form 45,” he said. He pleaded for restraining final issuance of final notification of NA15 result. The ECP after hearing the matter, rejected Pakistan Muslim League-Nawaz supremo Nawaz Sharif’s plea and ordered the returning officer of the constituency to release Form 49.

Senate elections may ‘face delay’ amid deepening political turmoil ISLAMABAD

STAFF REPORT

The political landscape in Pakistan is currently facing a period of uncertainty as the Senate elections draw near amidst unresolved electoral issues and the status of the electoral college.

The postponement of this crucial electoral process is looming large due to the uncertain status of the electoral college and the deepening political turmoil that has gripped the country.

With the current term of the Senate set to end on March 11 and the anticipated elections scheduled for the first week of March, speculation is rife over a potential delay until all provincial governments are established. The

delay in the general elections has further complicated matters, casting doubts over the timely occurrence of the Senate elections and adding to the political uncertainty in the country.

As preparations are made for the conclusion of the current Senate term, a final session has been called for February 19, to be presided over by Chairman Senate Sadiq Sanjrani. During this session, Senators are expected to bid farewell, with a summary to be forwarded to President Dr. Arif Alvi for formal summoning, marking the end of the current Senate term.

Amidst these proceedings, the Senate Standing Committee on Finance, chaired by Senator Salim Mandvi, has been actively addressing pressing economic issues. Concerns have been raised over the exorbitant gas bills

burdening citizens, with discussions on the influence of the IMF on national policies.

Senator Sadia Abbasi highlighted the surge in gas prices, attributing it to pressure from the IMF, while Senator Kamil Ali Agha questioned the extent of IMF influence on national policies. Chairman Saleem Mandviwala clarified that gas price hikes fall under the purview of the petroleum division, not the Ministry of Finance.

As debates intensify over economic policies and electoral procedures, the impending Senate elections remain contingent upon the resolution of electoral complexities. The critical juncture facing Pakistan’s political landscape underscores the need for swift and decisive action to navigate through the uncertainties and challenges ahead.

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GAS PRICE RAISED BY 45% TO MEET IMF DEADLINE

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Friday, 16 February, 2024 | ISLAMABAD

NEWS

Non-protected residential consumers will experience a tariff hike of up to 27 percent PROFIT

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HE caretaker government has approved up to 45% increase in the tariffs of the natural gas to fulfill the revenue requirements aligning with demands from the International Monetary Fund (IMF).

The decision was taken during a meeting of the Economic Coordination Committee (ECC) of the Cabinet on Wednesday under the leadership of Finance Minister Dr Shamshad Akhtar.

The new tariff will be effective from February 1, 2024.

The ECC decided to adjust the proposed tariff increases suggested by the Petroleum

Division, ensuring consistency with the revenue needs of Sui companies.

According to the Petroleum Division, the estimated revenue requirements for the current fiscal year stand at Rs. 592 billion for SNGPL and Rs 310 billion for SSGCL, totaling Rs 902 billion.

In response to the government’s commitment to the IMF, the ECC has allowed a Rs 50 per unit increase for protected domestic consumers, with consumption below 0.25 hundred cubic meters (hcm), bringing the rate to Rs 170 per mmBtu. Similar increases ranging from 40% to 45% have been permitted for other protected consumer brackets, with adjustments made to distribute the impact across sectors such

as fertilizers and industry.

Non-protected residential consumers will also experience a tariff hike of up to 27%, with rates increasing by Rs. 250 to Rs. 350 per unit.

Furthermore, uniform gas tariffs for fertilizer plants have been recommended, with directives issued to investigate recent urea price increases and ensure price stability in the market.

In addition to the gas price adjustments, the ECC approved proposals from the Federal Board of Revenue (FBR) and the Division, including the Finance rationalization of sales tax rates on locally manufactured vehicles and the approval of technical supplementary grants for various projects.

The revised gas tariff rates will be shared with the IMF following formal approval by the federal cabinet, demonstrating the

government’s commitment to meeting its program benchmarks and financial obligations.

CCoP approves private sector participation in DISCOs’ operation, paving way for privatization ISLAMABAD

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In a significant development aimed at addressing the longstanding operational challenges faced by Pakistan’s power distribution companies (DISCOs), the CCoP has approved the adoption of a long-term concession model for private sector participation in the management of two DISCOs, namely GEPCO and HESCO. According to sources, this decision, made during a recent meeting of the Cabinet Committee on Privatisation (CCoP) held on 7th February 2024, signals a strategic shift towards improving governance, modernizing operations, and attracting much-needed investments in the power sector.

The move comes after extensive deliberations by the Power Division, which identified poor governance and inadequate investment as key challenges plaguing the DISCOs. Recognizing the limitations of previous attempts to transfer

Sazgar Engineering launches first electric vehicle

DISCOs to provincial governments, the government opted for a privatization strategy, viewing it as the most viable solution to drive efficiency and performance improvements.

The decision to adopt the long-term concession model was backed by successful precedents in countries like Turkey, Argentina, Brazil, and Uganda, where private sector participation in power distribution led to significant improvements in service quality, loss reduction, and increased investment.

Under this model, the government will engage with concessionaires to gradually reduce government liabilities while ensuring minimal impact on consumer tariffs.

Moreover, the CCoP decided to annul the previous cabinet’s decision to transfer DISCOs to provincial authorities, reaffirming the commitment to keep all DISCOs on the privatization list.

Additionally, the proposal to appoint the International Finance Corporation (IFC) as the transaction advisor was not

PROFIT

leading to their eventual privatization” proposed to CCoP to consider and grant approval to following proposals: Delisting of all DISCOs from provincialization and privatization list, Offer DISCOs through concession model; Constitution of Ministerial Steering Committee under the chairmanship of Minister for Energy along with Minister for Privatisation, Minister for Law and Minister for Planning.

Constitutional of Technical Working Group under power division to support the ministerial committee with composition to be determined by minister for energy as per requirement.

Appoint IFC as Transaction Advisor; and Action Plan with responsibility matrix and timelines.

It is pertinent to mention that the approval of the long-term concession model marks a significant milestone in the government’s efforts to reform the power sector, attract private investment, and improve service delivery.

Federal cabinet approves Indonesian Batak Air service to initiate flights from Pakistan ISLAMABAD

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Sazgar Engineering has introduced its first electric vehicle (EV), the ORA 03, in Pakistan. This launch marks the company’s entry into the electric vehicle market, expanding its existing lineup of locally assembled vehicles. The ORA 03 is manufactured

by Great Wall Motor (GWM) of China and combines elements of classic and modern design.

For the initial phase, Sazgar will be selling Completely Built-Up (CBU) units of the ORA 03.

SPECIFICATIONS OF THE ORA 03 According to Pakwheels, the ORA 03 is equipped with a lithium iron phosphate 47.78 kWh battery, offering a range of 310-400 kilometers per charge.

It features a front-wheel drive (FWD) drivetrain powered by a permanent magnet synchronous electric motor. The motor delivers a maximum power of 105kW and a torque of 219 Nm, with a top speed of 160 kilometers per hour.

KEY FEATURES OF THE ORA 03 The vehicle includes LED headlamps with electric adjustment, electrically adjustable side view mirrors with side lighter repeater, a panoramic sunroof, and 215/50 R18 alloy wheels. The interior offers a red & beige color scheme, a microfiber leather steering wheel, manual and electric seat adjustments for driver and front passenger, leatherette seats, a 7-inch instrumental cluster, wireless charging, and a 10.25-inch color multitouch screen.Safety and convenience features Safety features include adaptive cruise control, ABS, EBD, TCS, RMI, ESC, EPB, front and reverse radar, an automatic vehicle hold system, an integrated parking system, lane departure warning, front collision warning with auto emergency braking, and airbags.

The launch of the ORA 03 by Sazgar Engineering introduces an electric vehicle option to Pakistan’s automotive market, featuring a mix of performance, technology, and safety features.

approved by the CCoP. Instead, the commission directed the hiring of a financial advisor in accordance with established procedures.

Furthermore, the CCoP directed the Privatisation Commission to lead the process of offering DISCOs through long-term concession, with support from the Power Division. It also approved the constitution of a Technical Working Group to expedite the process and ensure technical requirements are met.

CCoP also directed power division to submit the case to federal cabinet for bifurcation of two DISCOs namely LESCO and MEPCO, with no increase in the existing human resource of the proposed DISCOs after bifurcation. This measure aims to enhance the management efficiency of these DISCOs and streamline operations.

The power division through a summary for CCoP titled as “Private sector participation in operation of DISCOs through long term concessions

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In a bid to enhance air connectivity between Pakistan and Indonesia, the federal cabinet, through circulation of summary, has granted approval for Indonesian Batak Air Service to commence air operations to Pakistan.

According to sources, the Aviation Ministry has informed the federal cabinet that the Indonesian Directorate General of Civil Aviation has requested for designation of Batak Air Indonesia as an Indonesian designated airline.

In this regard, Pakistan Civil Aviation Authority (PCAA) has confirmed that Batak Air Indonesia, a subsidiary of the Lion Air Group Indonesia, intends to operate flights to and from Pakistan using Boeing 737 and Airbus A320 aircraft.

Pakistan Civil Aviation Authority (PCAA) has further informed that Batak Air Indonesia is a subsidiary of the Lion Air Group Indoensia which is the same group that is now part of Batak Air Malaysia (previously Malindo Airways). This is part of the process of Lion Air to establish fullservice air carrier complementing its low-cost operations and is a different venture than establishment of airlines catering to same market segments.

Batak Air Indonesia is operated by Lion Air Group and Batak Air Malaysia is being operated through associate partnership with a Malaysian Investment Company that owns majority stake in Batak Air

PROFIT

The National Electric Power Regulatory Authority (Nepra) has announced its intention to hold distribution companies (Discos) accountable for overbilling consumers during July and August of the previous year.

In a public hearing led by Nepra Chairman Waseem Mukhtar, the regulator voiced concerns over Discos seeking an additional Rs85 billion in recovery from consumers over three months, primarily as capacity charges, while numerous applications for new connections, which would utilize approximately 1,100MW of capacity, remain unaddressed.

Nepra officials were particularly critical of the casual approach and lack of preparation from power company executives, including the CEO of the Central Power Purchasing Agency (CPPA), in responding to queries

President Dr Arif Alvi has stressed the need of enhancing public-private partnership to educate around 26 million out-of-school children across the country. Talking to a delegation of Read Foundation – a non-profit organization – led by Muhammad Shafiq Khan which called on him here on Thursday, he said that the education and self-dependence of the orphan children were essential for an inclusive society. Dr Arif Alvi also called for a special focus on girls’ education to make the country achieve progress. He also lauded the services of the Read Foundation in the fields of education and welfare. President Alvi said that the educational institutions played a key role for the human resource development.

In the briefing about the Foundation’s contributions, it was told that the organisation was running over 400 schools and colleges across the country. It was informed that the Read Foundation was striving for promotion of quality and result-oriented education as well as for enhancing the access to free or low-cost education. The Foundation was also taking measures for education and upbringing of the orphan children, it was told.

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Malaysia.

The shareholding ownership of Batak Air Indonesia along with Executive Management of the airline operator has confirmed as being Indonesian by the airline operator. The airline operator intends on operating to/from Pakistan using B 737 and A 320 aircraft. The airline’s route network is operated in conjunction with cooperative arrangements with Lion Air, a specialized low-cost carrier.

The Air Service Agreement (ASA) between Pakistan and Indonesia was signed on January 14, 1996, which stipulates multiple airline designation. Under Article 3 of the ASA read with preamble, federal cabinet is the competent authority to approve designation of new airlines.

PCAA has recommended that the request may be accepted as it is within the terms of the ASA between Pakistan and Indonesia. The Aviation Ministry has supported the recommendation of PCAA. Sources further informed that Batak Air will initially operate seven weekly flights to Karachi and Lahore, offering travelers increased options and convenience.

Batak Air will start 07 weekly flights to Karachi and Lahore, they added.

It is pertinent to mention that the introduction of Batak Air’s services is expected to contribute to the growth of tourism, trade, and people-to-people exchanges between Pakistan and Indonesia.

Discos aim to recover additional Rs85b from consumers in three months for capacity charges newS DeSk

ISLAMABAD

Staff RepoRt

Political uncertainty shakes PSX, KSE-100 plummets 1.8%

Nepra to issue show-cause notices to Discos for overbilling g

President for enhancing public-private partnership to educate out-of-school children

during the hearing.

The session was called to deliberate on the Discos’ request for another Rs85 billion for the second quarter of the fiscal year, which would result in a national rate increase of about Rs4.5 per unit for three months.

The regulator expressed dissatisfaction with the Discos’ responses to instances of excessive billing identified in an investigation report.

Formal show-cause notices are expected to be issued within days, with Nepra aiming to resolve the matter within a month. The investigation found that Discos had overcharged consumers by up to 100% in July and August 2023 through extended billing cycles and other means.

Furthermore, Discos have filed tariff petitions seeking to raise around Rs85 billion from consaumers over the next three months under quarterly tariff adjustments (QTA) for October to December 2023.

The Pakistan Stock Exchange (PSX) experienced a downturn amid escalating political instability and uncertainty, with the benchmark KSE-100 index plummeting 1.82% of its value during Thursday’s trading session.

This decline, particularly notable in the energy sector, led to the index closing at 61,020.05 – a fall of 1133.79 points. Major contributors to this downturn included key stocks such as OGDC, PPL, and PSO, all of which ended the day on a negative note. Analysts have pointed to the increasing political unrest and its anticipated negative repercussions on the nation’s economic stability as primary drivers of the deteriorating market sentiment. This sell-off was triggered by revelations that the International Monetary Fund (IMF) had reservations about the government’s strategy for managing circular debt. However, the market later managed to recover remarkably.

The recent inconclusive election outcomes have further exacerbated these concerns.

Moody’s latest report highlights significant apprehension regarding Pakistan’s ability to secure a new agreement with the IMF following the expiration of the current program in April 2024, underscoring the heightened uncertainty surrounding the country’s economic prospects.

Court extends bail granted to Imran Khan in four terrorism cases LAHORE

Staff RepoRt

This comes in addition to a pending decision on a monthly fuel cost increase of about Rs6.5 per unit for February.

The proposed adjustments are intended to cover the additional financial impact of capacity charges due to currency devaluation and interest rate hikes, among other costs, for the second quarter of the fiscal year.

Currently, consumers are paying approximately Rs3.28 per unit QTA for the fourth quarter of the last fiscal year, aiming to collect more than Rs200 billion

An anti-terrorism court (ATC) in Lahore on Thursday extended the interim bail granted to former prime minister and ex-PTI chairman Imran Khan in four, out of seven cases, until February 19, 2024. ATC Judge Arshad Javed heard the bail petitions filed by the former prime minister in the cases of PML-N office burning, burning of a container at Lahore’s Kalima Chowk, Zille Shah murder, and Zaman Park vandalism and arson in court no 3, while Admin Judge Muhammad Naveed Iqbal heard the petitions filed in the cases of Jinnah House attack, Askari Tower attack, and torching of Shadman police station. However, Imran could not attend the case’s hearing via a video link. Barrister Salman Safdar, counsel for Imran, did not appear in the court either. His junior lawyers, who appeared in his place instead, said since their senior lawyer was absent due to his engagements, therefore, the court was requested to adjourn the hearing.

Friday, 16 February, 2024 | ISLAMABAD

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‘CORRUPTION SCANDAL’: EX-CDA MEMBER ESTATE ARRESTED FROM COURT AFTER BAIL TERMINATION NEWS

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ISLAMABAD

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HE FIA’s Anti-Corruption Circle on Thursday arrested Afnan Alam, a former member Estate of the Capital Development Authority (CDA), following the termination of interim bail in an illegal plots allotment case.

Special Court Judge Sharukh Arjamand heard the interim bail case of Afnan Alam in a first information report registered by the FIA against the CDA officials about the illegal allotment of plots.

Mr Alam is accused of abusing his authority for personal gain, resulting in huge financial loss to the national exchequer, estimated to be in the billions of rupees.

The main and important allegations against Mr Afnan Alam include the unauthorized approval of 73 plots for personal gain corruption and corrupt practices in other CDA sectors which led to huge financial loss to national exchequer.

During proceedings, the defense lawyer rejected the allegations against his client, saying that he was not in the CDA in 2017 and was appointed as DG Land on July 19, 2021.

He said that as per the FIR, the Member State was supposed to be investigated, while his client was not posted at that slot.

Petitioner Afnan Alam said that neither he was served any notice nor was summoned for the inquiry.

He said that the FIA had stated that the inquiry had been completed and if it were so then why the Agency required his client’s custody.

Afnan Alam could not go abroad without permission as he was a government servant, he added. Afnan Alam stated that he was not part of the allotment process, as only balloting of the plots was done during

his tenure.

Moreover, the co-accused had already been granted bails by the high court. The petitioner said that as per corruption rules, misuse of authority was not a crime, and prayed the court to confirm his bail saying that he was innocent in the case.

The FIA’s prosecutor said that the Agency required custody of the accused as it wanted more investigation from him. The applications for plots were submitted in 2017 and processed in 2022 during the tenure of Afnan Alam.

Some 62 plots were allotted illegally, he added. After hearing arguments from two

Outlaws held for allegedly shooting police personnel ISLAMABAD

Staff RepoRt

Islamabad Capital Police (ICP) arrested three outlaws on Thursday who were allegedly involved in a shooting incident involving a Dolphin police official in Sector E11 Islamabad.

An ICP public relations officer said that Islamabad Capital Police’s Dolphin Squad personnel came under

gunfire in Sector E-11. During the incident, one police officer sustained injuries and was promptly shifted to the hospital for immediate medical assistance, a public relations officer said.

He said that the Dolphin Squad received information of gunfire in Sector E-11 and rushed to the spot. Upon seeing the police, the accused opened gunfire on Dolphin personnel from a vehicle, injuring one police officer.

While the accused managed to flee from the scene, a case had been registered at Shalimar Police Station, and Islamabad Capital City Police Officer (ICCPO), Dr. Akbar Nasir Khan, had issued directives to senior police officers for the swift apprehension of the accused. The special police teams had been formed to investigate and ensure the arrest of the accused involved. The police team used technical and human resources to trace the vehicle and arrest three people involved in it.

Siddiqui warns against undermining establishment, urges safeguarding democracy KARACHI

Staff RepoRt

Dr Khalid Maqbool Siddiqui, the Convener of Muttahida Qaumi Movement-Pakistan (MQM-P), has urged all political parties to express a spirit of sacrifice and unity to steer Pakistan out of its current crisis, cautioning against targeting the military establishment as detrimental to the

nation’s well-being and democratic stability. Speaking at a press conference held in Karachi, Siddiqui underscored the challenges Pakistan faces, including economic woes and the persistent threat of terrorism, against the backdrop of recent elections.

“This is the time to sacrifice one’s part to get the country out of the worst crisis,” he emphasised, stressing the need for political parties to prioritise the

Gen Bajwa, Faiz ‘orchestrated’ no-trust move against Imran: fazl CONTINUED FROM PAGE 01

He noted that apparently, “rigging in elections” benefited the PML-N and there’s a rumour that Nawaz was not winning the Lahore seat. Fazl said that PML-N’s prime minister candidate Shehbaz had paid him a visit to speak about government formation, but he rejected the idea and instead called on the Nawaz-led party to join him in the opposition. “But Shehbaz left without responding to my offer […] for me, the parliament has lost its credibility. If the establishment this that the elections were fair, then the May 9 narrative has been buried.” Fazl said that both the 2018 and 2024 elections were rigged. “We have decided to protest against this vote theft. Now the decisions would be taken on the ground rather than in the assembly,” he declared. Regarding discussions with PML-N President Shehbaz Sharif on government formation, the JUI-F chief disclosed his refusal to participate.

“I believe whatever happened during the 2024 elections, it benefitted PML-N. There are rumours that Nawaz Sharif was given the Lahore seat,” he added. He cautioned that if PML-N and other political parties proceed to form the government, they would be held accountable for the consequences. “I don’t see a [bright] future for the parliament, therefore, I invited PML-N to sit with us,” he stressed. Fazl also expressed optimism about resolving differences with the PTI, indicating a willingness to engage in dialogue.

PP-89 victorious independent candidate joins PPP ISLAMABAD

Staff RepoRt

The victorious independent candidate from PP89 Bhakkar Ameer Muhammad announced to join Pakistan People’s Party (PPP) on Thursday. The independent candidate made the announcement after his meeting with Chairman Bilawal Bhutto Zardari and PPP Women’s Central President Faryal Talpur at Zardari House, a press release issued by party secretariat said. PPP ticket holder Amjad Khawaar, Shahid Hasan Khan and Chaudhry Hayat Mehmood were also present during the meeting.

national interest over partisan agendas.

Expressing satisfaction over the conduct of the elections amidst challenges, Siddiqui remarked, “Many people were worried that the elections might not be held on time, but the institutions took responsibility and the elections were somewhat peaceful.” He noted that many independent candidates emerged victorious during the conduct of the election which was evidence that the

electoral process was somewhat free.

While acknowledging MQM’s reasons to celebrate electoral success, Siddiqui cautioned against complacency, stating, “At a time when difficult decisions need to be made, political parties must give their share of sacrifice as it was the only solution.” He lamented the politicisation of crucial issues during a precarious juncture, emphasising the need for concerted efforts to safeguard Pakistan’s interests amidst external challenges.

“The eyes of neighbouring countries are on our country, and they are waiting for a weak moment,” Siddiqui warned, emphasizing the importance of national unity in maintaining peace, prosperity, stability, and security.

KP inks MoU with CPEC Center to train 200,000 students in digital skills PESHAWAR

aziz BuneRi

As a major development in increasing the trained and skilled manpower in Khyber Pakhtunkhwa, a memorandum of understanding was signed between the Department of Higher Education Khyber Pakhtunkhwa and CPEC Cultural Communication Center of the People’s Republic of China under which Two lakh students of government colleges in the province will be taught digital skills in various fields including web development, app development, cyber security, artificial intelligence, graphic designing and others.

In this regard, an official ceremony was held at Pakhtunkhwa House Islamabad on Thursday.

Caretaker Chief Minister Khyber Pakhtunkhwa Justice Retired Syed Arshad Hussain Shah participated in the ceremony through video link while Caretaker Provincial Cabinet members Dr. Najeebullah, Dr. Aamir Abdullah and Dr. Qasim Jan and other relevant officials were present in the ceremony.

The ultimate objective of the MoU is to establish a long-term strategic partnership between the Department of Higher Education Khyber Pakhtunkhwa and the CPEC Cultural Communication Center to provide market-based training to young students and increase the skilled workforce of the province through digital skills and training programs for targeted students. will be arranged.

Steps will also be taken to ensure the provision of employment opportunities in the relevant fields to the students who complete the training as per the memorandum of understanding.

Speaking on the occasion, the Chief Minister congratulated the concerned authorities of the Khyber Pakhtunkhwa Department of Caretaker Higher Education and CPEC Culture Communication Center on the said partnership and said that this partnership is not only a milestone for meeting the needs of digital skills in the province. It will also prove, rather, it will lead to strengthening the long-standing friendship between Pakistan and China.

The Caretaker Chief Minister said that the caretaker Provincial Government is working under a comprehensive strategy to provide market-based training and digital skills to the youth of the province and to increase skilled manpower.

Apart from this, a human capital export strategy has also been formulated to provide employment to trained and skilled youth in the international market.

The partnership between the Department of Higher Education and the CPEC Culture Communication Center will be an excellent initiative in achieving the goals under the above strategy.

He directed the concerned authorities to start implementing the memorandum of understanding without wasting time, the provincial government will provide all possible support for this purpose.

PESHAWAR

Sarhad Chamber of Commerce and Industry president Fuad Ishaq said there is no doubt that Pak-China friendship is unmatched which is further strengthening with the passage of time and its example, is that events are arranging on eve of new Chinese year across the Pakistan and everyone is participating in happiness of Chinese brother and sisters.

Fuad Ishaq was speaking at an event

Mr Alam will be presented in the court for physical remand while the FIA Islamabad is conducting raids to apprehend other accused involved in the case.

Pakistan sees slight increase in foreign reserves PROFIT

monitoRing deSk

Pakistan’s total liquid foreign reserves have marginally risen to US$ 13,149.1 million as of February 9, 2024, according to the State Bank of Pakistan. This represents a modest improvement from the previous week’s figure of $13,097.6 million. The central bank’s reserves increased by $13 million, reaching $8,056.5 million, while reserves held by commercial banks also saw growth, standing at $5,092.6 million. This financial update highlights a gradual strengthening of Pakistan’s economic standing, with both the central bank and commercial banks contributing to the national reserve’s slight uptick.

Large Scale Industry’s output increases by 16% MoM PROFIT

iSlamaBad

Pakistan’s Large Scale Manufacturing Industry (LSMI) output increased by 15.69% month-onmonth in December 2023, reaching 132.87 compared to 114.85 in November 2023, according to the latest data released by the Pakistan Bureau of Statistics (PBS) Thursday.

The LSMI production also witnessed a 3.43% year-on-year increase from 128.47 in December 2022. The provisional quantum indices of the LSMI are based on the latest data supplied by source agencies and using 2015-16 as the base year, the PBS said. LSMI recorded a slight cumulative decline of 0.39% during the first half of the fiscal year 2024 (6MFY24), compared to the same period in the previous year. This overall decrease was driven by mixed performance across various sectors. Significant contributors to this drop included textile (-2.05), automobiles (-1.70), furniture (-1.05), with decreases also seen in tobacco (-0.73), paper & board (-0.12), iron & steel products (-0.07), and electrical equipment (-0.38).

SHC orders establishment of special courts across Sindh

KARACHI

Staff RepoRt

PHC stops repatriation of Afghan transgender women PESHAWAR

Staff RepoRt

The Peshawar High Court on Thursday issued a temporary order barring the repatriation of 16 Afghan transgender women and directed the authorities to stop harassing registered Afghan transgender migrants residing in Pakistan.

The order came in response to a writ petition filed by the transgender women against their potential deportation under a government decision to repatriate all Afghan nationals.

The counsel for the petitioner argued that their lives would be in danger if they were sent back to Afghanistan, where persecution of transgender individuals is widespread.

Justice Shakeel Ahmed and Justice Waqar Ahmed heard the petition, acknowledging the precarious situation of Afghan transgenders in their home country.

However, the court also clarified that foreign nationals do not have the same rights as Pakistani citizens and can only stay if they have valid visas.

Despite this, the judges noted that even registered Afghan refugees with valid documentation, including Proof of Registration (POR) cards, were being harassed by the authorities.

They termed such actions unacceptable and damaging to Pakistan’s international reputation.

Therefore, the High Court directed authorities to halt the repatriation of the 16 Afghan transgender women and keep their deportation on hold until further proceedings.

Pak-China friendship strengthening with passage of time: SCCI aziz BuneRi

sides, the court terminated the interim bail of DG Land CDA. The court, after hearing to detailed and heated arguments from both the defense and prosecution, ruled out against the extension in the bail, leading to Mr. Alam’s immediate arrest by the FIA Joint Investigation Team (JIT) led by In-charge Afzal Khan Niazi, Assistant Director Malik Sajid Mehmood, and Inspector Zahid Bhatti.

at China Window Peshawar and inauguration of a culture exhibition, arranged by students of Shaheed Benazir Bhutto Women University Peshawar (SBBWUP), held in connection with China New Year here on Thursday.

The SCCI chief praised artwork and paintings of the students displayed during the exhibition and said citizens of Peshawar will get aware about Chinese culture through this event.

He said Pakistan and China are tied with strong trade, cultural and tourism

relationships, and its example wasn’t found anywhere in the world.

China and its people have always support to Pakistan in their difficult situation, he added.

Fuad Ishaq noted Pakistan and China relationship has touched new heights owing to unflinching leadership of the two countries and vigorous efforts initiated by government from both sides, particularly CPEC had further strengthened bilateral trade and economic cooperation between the two

countries.

The chamber president opined that CPEC is a game changer, which would bring economic prosperity and development in the whole region and stressed the need for early completion of projects under CPEC. He said technology transformation is highly crucial in CPEC. The SCCI chief hoped both countries would take every possible measure to further improve bilateral trade and economic relations.

Sindh High Court (SHC) on Thursday ordered the establishment of special courts across the province within a month. The orders were passed by SHC judge Justice Salahuddin Panhwar after taking notice of the non-establishment of special courts in the limits of Municipal Corporations despite the passage of 10 years. The judge observed that the Sindh Assembly amended the Special Courts Ordinance in 2013 and despite passage of 10 years, failed to establish special courts in the limits of Municipal Corporation across the province. Terming the formation of special courts imperative as per the law, the SHC directed the authorities for the formation of special courts within a month. Non-compliance will be taken as contempt of court, the SHC judge remarked.a

JI’s Liaquat Baloch decries ‘interference’ in elections LAHORE

Staff RepoRt

Jamaat-i-Islami leader (JI) Liaquat Baloch has decried alleged “interference” in the electoral process, claiming that the results were manipulated to achieve “results of one’s choice”. Addressing a press conference in Lahore, Baloch said, “In Pakistan’s politics, there is a game that 30-40 constituencies are targeted and the results are changed and engineering is done for [acquiring] governance. “This interference took place in 1977 as well and these matters become apparent during each election,” he added. The JI leader alleged that under a “set formula, 30-35 constituencies are targeted to achieve the results of one’s choice so that for the next five years, politics, democracy and the parliament remain under the powerful institutions”.

04 COMMENT

The best of a bad job

Gas prices hike gets final approval

P

A

Going back in time?

Caretakers leave a kicker for the new government

week after the last election, the caretaker government was busy taking the decisions that the new government would prefer not to take itself. The latest decision was said to be the gas tariff hike which first went to the Economic Coordination Committee of the Cabinet, which had approved the hike on Wednesday, leaving the Cabinet to okay it on Thursday.

The Cabinet had initially considered the hike earlier, but had referred it to the ECC because several ministers did not approve. However, the step has been taken to meet one of the conditionalities of the IMF Standby Arrangement, with its final tranche of $1.2 billion, to be disbursed after the March review, not to be disbursed.

The increase, which will affect residential consumers the most, was strongly opposed by Industry Minister Gohar Ejaz, who fought the corner of the textile industry, because the proposal included a substantial increase in the price of gas supplied to captive power plants. Another industry which felt itself targeted by the increases was urea manufacture, especially Engro. It should be noted that only recently, the government has ended the subsidy to imported urea, meaning that farmers now pay the full cost, because of a price hike in the official sale price. Because locally manufactured urea will now receive a more expensive feedstock, more price increases are on the cards. Therefore, the country’s food supply will cost more, because farmers might stint on other, phosphatic, fertilizers, but regard urea as a must. The food produced is basically for local consumption, but increasing the cost of captive power plants will have an adverse impact on exports. CPPs were thought a neat solution to the textile industry’s power crisis, in which they not only produced as much electricity as they could consume, but sold any excess to the DISCOs. However, CPPs are mostly re-installations of older technology, and thus relatively inefficient.

One disadvantage of the new tariffs are that it seems they will unnecessarily burden the new government as it comes in. It might be remembered that the PDM government complained loudly and prolongedly of being sabotaged by its PTI predecessor which left it to take unpopular decisions in raising fuel and utility prices . It almost seems as if the caretakers are preparing the ground for the PDM 2.0 to blame them for tying its hands.

At Penpoint M A NIAZI

AKISTAN has at last undergone the general election that was due three months back, and seems to have yielded the same result as came about 35 years ago, back in December 1988, when the PPP emerged as the largest single party in the National Assembly, and went on to form the government, even though it was at that time opposed to the establishment of the time, which had lost its leader, President Ziaul Haq, in the fateful plane crash in August.

Mian Nawaz Sharif must be experiencing a moment of déjà vu, because he attempted then to do what he is attempting now: form a government by collecting all the disparate elements in the National Assembly into a single bloc, which will give him a majority.

In 1988, this effort, disclosed then PML SecretaryGeneral Iqbal Ahmad Khan some time later, was made because the provincial elections took place three days later, and it was essential to prevent the PML vote from collapsing, The strategy seems to have worked, because Mian Nawaz emerged as leader of the largest party in the Punjab Assembly, and with the help of independents formed the government.

However, this time around, the situation has significant differences. Back in 1988, the PPP was still a cohesive parliamentary party, with the Forward Blocs in national and Punjab parliamentary parties still in the future. The PPP and the IJI were rivals, not potential partners. Even now they are rivals, but it is significant that the first contact between parties over government formation was between the PML(N) and the PPP. The imponderable factor has to be the PTI-backed independents. They were the single largest party in the National Assembly and had an apparent stranglehold in the KP Assembly, and were narrowly second in the Punjab Assembly. Incidentally, that was where the first desertion took place, as a PTI-backed MPA-elect from Rajanpur announced his support for the PML(N). The PTI should have been concerned by this, but not worried, because the MPA-elect in question came from a constituency known less for ideological commitment than the pursuit of power. The MPA-elect probably jumped ship because he felt that the Punjab government was going to be formed by the PML(N). Whether he had calculated that he could win the next election without the PTI, provided he had the blessings of the provincial government, or whether he felt that the next election was far off enough, he clearly felt the PTI ticket was something he could afford to forgo.

The PTI- backed independents are an awkward presence. The Assembly Secretariats will obviously be in a tizzy, not knowing how to seat them. The first issue is whether to seat them on the Treasury or Opposition benches. Then there are two types of independents; the ones backed by the PTI, and those who genuinely do not belong to any party. In this scenario, there is the danger of those backed by the PTI voting against the party line. Another difficulty is the allocation of reserved seats, which is done by excluding

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

independents. Normally, the parties do not gain any advantage that way. Normally, the PTI would take its share of seats, but now, if the independents are excluded, the PML(N) and PPP will take those seats.

The PTI would have got 26 or 27 reserved seats, while the PML(N) would have got 12 or 13, while the PPP would have got seven. If PTI independents are excluded, the PML(N) would get about 34 reserved seats, the PPP about 24, and the PTI none.

Perhaps the main problem is that the PPP finds itself talking to a wall in trying to talk to the PTI. These are not negotiations that can be handled by anyone less than the party head, and Imran Khan is in jail. The PML(N) would probably rather not talk to him. However, if the PTI independents were to elect a leader, the PML(N) might be willing to talk to him. Similarly the PPP. One of the clear lessons of the election results was that the voter had forgotten the May 9 incidents, or maybe had not allowed it to influence him in the first place. One sign of this had actually come during the election, when neither the PPP nor the PML(N) based its narrative on PTI culpability in the attacks.

The PTI also did not mention it, for obvious reasons.

However, as far as the elections go, the PTI seems to have lived it down.

The PTI is benefiting from a situation where the party obtaining a plurality rather than a simple majority tries to form the government. The first occasion when a party got an actual simple majority was in 1970, when the Awami League swept East Pakistan, and as a result was poised to form the government.

Then the rest is history, and there were elections in West Pakistan in 1977. The PPP obtained 155 out of 200 seats. There was a movement against those elections, with the opposition PNA claiming they were rigged, and about 100 protesters were killed.

The 1985 elections were partyless, but subsequently, in 1988, 1990 and 1993, no party obtained an absolute majority, though the party winning a plurality formed the government each time. In 1997, the PML(N) won 137 seats, an absolute majority which allowed it to form the government on its own. That government ended abruptly in 2000, when Gen Musharaf imposed martial law.

After he resumed the holding of elections, no party has ever obtained an absolute majority. There was one previous PPP-PML(N) coalition, back in 2013, but that only lasted 48 days, from March 25 to 12 May. The PDM coalition was more successful, as it lasted from 11 April 2022 to 12 August 2023. The first example

Babar Nizami Editor Profit

The Taliban will not stop their soil being used by foreign jihadis

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Dr ZAfAr KhAN SAfDAr

AKISTAN saw over 2867 fatalities in terrorist attacks last year, a 50 percent increase from 2021 and thrice the number in 2020. This surge in violence has raised concerns about the Tehreek Taliban Pakistan, based in Afghanistan, carrying out attacks on Pakistan.

The group, formed in 2007 out of militant networks in the border region, has historical links to the Afghan Taliban and al-Qaeda. Recent conflicts along the western borders have highlighted the negative impact of a Taliban government. Pakistan’s efforts to manage tensions between Islamabad and Kabul are failing, as its leverage with the Afghan Taliban is slipping. Not only that the Taliban’s control has led to a humanitarian catastrophe in Afghanistan and increased risks for regional and international security, they are a serious threat to the western border for contesting the Afghan-Pakistan border status as unclear and imaginary.

In September 2021, the Taliban declared the Islamic Emirate of Afghanistan as a caretaker government to enforce Islamic rule. The swift takeover of Afghanistan by the Taliban has raised concerns about US and Western failures, regional and international security implications, and the West’s strategy choices. The majority of the current set up of the Taliban government are Pashtun members from southern Afghanistan and are blacklisted by the USA and UN on terrorism-related sanctions. Although Pakistan has been an important ally of the Taliban, the Taliban have been funding terrorist organisations and other outlawed groups in Pakistan, which poses grave risks to national security.

Before the civil war in 1978, Afghanistan was a monarchy under Zahir Shah, who came to power in 1933, and then after his overthrow, a republic with Daoud Khan as President. After World War II, the USA and the USSR used economic assistance to compete for influence. After the USA established military ties with Pakistan in 1954, Afghanistan increasingly turned to the USSR for support. In 1964, Zahir Shah convened a Loya Jirga to debate a draft constitution for a more representative government, but he did not relinquish any power, political parties were permitted to organize but not to contest elections. Zahir Shah was overthrown by his cousin Daoud Khan in 1973, who had allied himself with one of the factions of the People’s

Democratic Party of Afghanistan (PDPA), a Marxist-Leninist party formed in 1965.

After gaining power, Daoud attempted to distance the government from the USSR. The PDPA reunited in 1977 and launched a coup in 1978, killing Daoud and seizing power. The government then launched radical land reform and mass repression, leading to uprisings. The USSR invaded Kabul in 1979, installing Babrak Karmal as president. The Soviet occupation force and Karmal government suppressed uprisings, resulting in one million deaths. The 1988 Geneva Accords ended the war, but the UN failed to establish a transitional process, leading to further efforts until the Taliban came to power.

In 1992, Tajik leader Ahmed Shah Massoud, Uzbek leader Gen Abdul Rashid Dostum, and Hazara faction Hizb-i-Wahdat formed the Northern Alliance. Non-Pashtun militia forces mutinied and took control of Kabul airport, preventing President Najibullah from leaving Afghanistan.

Najibullah stayed in the UN compound for four years. Burhanuddin Rabbani became president of the Islamic State of Afghanistan, while Hikmatyar continued to bombard Kabul.

In 1994, Hikmatyar and Dostum launched a civil war, destroying one-third of the city. The Taliban emerged as a result of this fragmentation, with many mujahidin commanders establishing themselves as local warlords. Humanitarian agencies frequently found their offices stripped, their vehicles hijacked, and their staff threatened.

The movement gained support from Pakistan, which saw the Taliban as a way to secure trade routes to Central Asia and establish a government in Kabul friendly to its interests. In 1995, the Taliban took control of Herat, preventing Afghanistan’s connection to Iran. In 1996, they took Kabul, prompting Massoud to seek military aid from Russia and Iran. Osama bin Laden returned in 1996, initially under tribal council protection before Taliban control. In 1997, the Taliban renamed Afghanistan the Islamic Emirate of Afghanistan, with Mullah Omar as commander.

The Taliban attempted to expand their control in Afghanistan from 1997 to 1998, attempting to take control of Mazar-i Sharif, a city controlled

by Dostum’s forces. In August 1998, the Taliban took control and massacred at least 2000 people, mostly Hazara civilians. Dostum left Afghanistan for exile in Turkey, while Malik fled and lived in

Iran since 1997. The United Islamic Front for the Salvation of Afghanistan (UNIF) was formed, with Rabbani as president and Dostum, Khalili, and Islami as commanders. The US initiated air strikes against bin Laden’s training camps in 1998, leading to UN sanctions in 1999. The failure to hand over bin Laden led to an expansion of the sanctions on the regime in 2000. In 2001, the USA launched airstrikes against Al-Qaeda and Taliban targets in Afghanistan, ending the Taliban regime. Since 2021, the Taliban has regained control of Afghanistan.

Pakistan’s deteriorating ties with the Taliban provide valuable insights for policy makers. The Taliban, similar to the pre-9/11 era, are willing to take risks and prioritize foreign jihadis in Afghanistan, even without diplomatic recognition. This reflects their regime’s lack of nationalist inwardness or international concerns.

Policymakers must be realistic about the Taliban’s commitment to preventing Afghan territory from being used for terrorism. Pakistan should increase economic pressure on the Taliban to review its support for the TTP, as Pakistan is Afghanistan’s main transit trade route and Taliban-led export market.

Pakistan’s economic leverage is rooted in Afghanistan’s landlocked status, which contributes to over 40 percent of the country’s customs revenues and nearly 60 percent of the Taliban’s total revenues. To exert more economic pain, Pakistan needs to tighten transit trade rules, impose stringent bank guarantee requirements on Afghan traders, expand a list of goods Afghanistan cannot import via Pakistan, and impose duty on select commodities imported by Afghanistan.

The writer has a PhD in Political Science, and is a visiting faculty member at QAU Islamabad. He can be reached at zafarkhansafdar@yahoo.com and tweets @zafarkhansafdar

PakistanÊs economic leverage is rooted in AfghanistanÊs landlocked status, which contributes to over 40 percent of the countryÊs customs revenues and nearly 60 percent of the TalibanÊs total revenues. To exert more economic pain, Pakistan needs to tighten transit trade rules, impose stringent bank guarantee requirements on Afghan traders.

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shows that the PPP should not head a coalition. The second shows that Mian Shehbaz Sharif might make a fist at heading a coalition. It might be noted that PPP attacks on the PML(N) focused on Mian Nawaz.

No wonder he refused to become PM. But will he remain in Lahore as backseat driver for daughter Maryam when she becomes CM, or spend a lot of time in Islamabad?

The election is being presented as fair because of the PTI performance. At the same time, there is a considerable controversy over the forms 45 and 47 of the ECP. The PTI is claiming that it won more seats than the ECP declared it did. One of the essential factors in the conduct of the election, that of getting everyone to accept the results, was not fulfilled. However, that might be more for partisan reasons rather than because the poll was unfair. In 1977, whether or not the election was unfair or not, the opposition’s allegations coincided enough with people’s experience of the polling to fuel the antiPPP movement Never afterwards did the average voter’s experience coincide with losing parties’ claims.

Another point worth noting is that the PTI managed to win a third consecutive election in KP, and the PPP in Sindh. Not since Mian Nawaz won consecutive terms in Punjab in 1985, 1988 and 1990, has that been achieved by any party in any province. Incidentally, Punjab has been a true battleground, as no one has got a majority, and the PTI has lost after gaining control.

However, no one is discussing how to fix the economy. That is one of the glaring problems with the election. The absence of a narrative from any party means that, whoever forms the government, the same policies will probably be followed. Going by the performances of the PTI, the PPP and the PML(N), it seems that policies will be in the hands of bureaucrats and the IMF. One of the benefits of democracy is supposed to the formulation of pro-people policies. It is also supposed to bring political stability. Neither seems likely to happen.

The writer is a member of staff

However, no one is discussing how to fix the economy. That is one of the glaring problems with the election. The absence of a narrative from any party means that, whoever forms the government, the same policies will probably be followed. Going by the performances of the PTI, the PPP and the PML(N), it seems that policies will be in the hands of bureaucrats and the IMF.

The threat on the western border M. A. Niazi

Editor Pakistan Today

Friday, 16 February, 2024

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Editor’s mail

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

Modern art

IT goes without saying that modern art has been reduced to nothingness. Art pieces are now created as fodder for capitalist society.

While art was once used to display emotions and experiences, it has only become a source of making money. Artificial intelligence (AI) has now polluted the very essence of artistry. As the world proceeds to a more advanced and ‘modern’ way of living, we are increasingly becoming deprived of the core values and essence of humanity. When the creation of art is left amusingly at the hands of computer bots, we, as a society, are bound to get doomed.

SANIA NASIR KARACHI

Education equality

THE absence of a college in UC Dandar has emerged as a major and urgent issue, posing a threat to the education system in Dandar. UC Dandar, with its substantial population, is grappling with various challenges, but the most pressing concern is the lack of a college. After completing matriculation, students encounter numerous challenges and hardships in pursuing further education. Many students lack permission, and some cannot afford to travel to other cities or universities for higher education.

It is observed that only 30% of students have the opportunity to travel to other cities for higher education, leaving a significant 70% of students deprived of this crucial chance and their educational rights.

Despite their potential in education, these students are unable to showcase their talents due to a lack of opportunities. The government of Pakistan and other relevant authorities are urged to prioritize this paramount issue in Dandar, ensuring that underprivileged communities have the opportunity to access higher education.

IJAZ BALOCH LAHORE

Land pollution

THE effect of land pollution is the deposition of solid and liquid material on the land or underground in a manner that can contaminate the soil and groundwater. It is the degradation of Earth’s land surface, often caused by human activities and their misuse of land resources. The main cause of land pollution is the improper disposal of waste materials, such as plastic, chemicals, and hazardous substances. Land pollution is a serious problem that impacts humans, plants, animals, Earth, and water resources. It causes groundwater poisoning, loss of fertile soil, loss of habitat, and health problems for humans.

Land pollution also poses significant health risks to humans and wildlife. Exposure to pollutants in the soil can lead to various health problems, including respiratory issues, skin diseases, and even cancer. It also impacts wildlife. Land pollution can have detrimental effects on wildlife, as animals may ingest or become entangled in plastic waste, leading to injury or death.

Governments are responsible for developing and implementing waste management strategies. They should establish waste disposal guidelines, promote recycling and waste reduction, and regulate the operation of landfills and waste treatment facilities. Governments should give awareness to the public about land pollution and also educate them about the importance of proper waste disposal, sustainable practices, and the harmful effects of land pollution. Public campaigns and educational programmes are often initiated to promote responsible behaviour. We should all be together in controlling land pollution.

SHAYHAQ CHAKAR AWARAN

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COMMENT 05

Role of Artificial Intelligence in climate change Friday, 16 February, 2024

It must be used to solve the problem rather than be part of it

I

nimra JavEd

N November 2022, Open AI released ChatGPT’s demo, quickly gaining global popularity as users showcased its capabilities. The success of Open AI’s language model intensified the global technological competition, presenting a significant challenge. The rising demand for digital services parallels the accelerating technological progress. Amidst the pervasive impact of climate change, particularly affecting developing economies like Pakistan, the escalating carbon footprint of Artificial Intelligence raises concerns. While AI can mitigate climate effects through smart grid design and low-emission infrastructure, its substantial energy consumption contributes to environmental issues. It is crucial for the countries to balance the sustainable AI usage to mitigate carbon emissions and achieve global environmental goals.

We are living in the fourth industrial revolution, an era in which technology is advancing at an extraordinary rate, where the digital world is immense within the physical and biological world, and science fiction decides the future of warfare. With increase in technological advancements the demand for generative AI products is also increasing and adds about $280 billion of new software revenue. According to the recent available data, Chat GPT has around 1.7 billion visits monthly. According to recent reports, Open AI is currently valued at $80 billion and the company has raised a total of $11.3 billion in funding over seven rounds so far. Since 2012, the number of users around the world has more than doubled, while global internet traffic has expanded 25-fold. Notably, since 2012, the

comprehensive training sessions for AI have consistently escalated in computational intensity, with a doubling frequency every 3.4 months, on average.

The increasing pace of generative AI is also increasing the demand of energy and according to the International Energy Agency, data centres currently account for about 1-1.5 percent of global electricity use. The larger the model is, the more the energy is consumed. According to the Climate Reality Project, 97% of climate scientists concur that human activity is the main driver of climate change. Various researchers at the University of Massachusetts Amherst analysed that the carbon footprint of training a single big language model is equal to around 300,000 kg of carbon dioxide emissions. This is of the order of 125 round-trip flights between New York and Beijing. And the cost of carbon required to train the large machine models is an important part of the problem.

Generative AI models needs to be updated continuously. For instance, Chat GPT was trained on data up to 2021, so it does not know anything happened since then. In order to update the models of Generative AI, the demand of energy will increase and as the main source of energy around the world is fossil fuels, so more fossil fuels will be consumed and ultimately the carbon emission level will increase and it will be difficult to maintain the global net zero level.

megawatts, a magnitude sufficient to meet the energy needs of approximately 80,000 households in the USA, according to findings by the Energy Innovation, an organization focused on energy and climate analysis. From an environmental perspective, the collective energy consumption attributed to data centres and AI operations emerges as a considerable concern, invoking apprehensions regarding its ecological ramifications.

The escalating global need for energy arises from the ongoing efforts of nations to foster economic development and maintain societal stability amid the backdrop of climate change. According to projections from the International Atomic Energy Agency (IAEA), there is an anticipated near-doubling of electricity consumption by the year 2050. Paradoxically, despite this trajectory, a significant majority— exceeding 60%— of the world’s electricity generation continues to rely on unabated fossil fuels, which thereby remain a substantial contributor to the prevailing challenge of climate change.

Gerry McGovern, the author of World Wide Waste, writes that we are going through the energy consumption crisis. AI is an energy intensive tool and the greater the demand for AI, the more the use of power. He further stated that it’s not simply the electrical energy to train an AI but also about building the supercomputers and collecting and storing the data.”

With the increasing consumption of energy, the temperature of the planet is be-

It is essential to implement sustainable practices in AI development and usage, such as optimizing energy efficiency in model training and data centres. Collaborative initiatives between governments, industries, and research institutions can drive the development of eco-friendly AI technologies. Investing in renewable energy sources for AI operations and promoting transparency in carbon footprint reporting are crucial steps. Additionally, ongoing research and innovation should focus on creating AI solutions that actively contribute to environmental conservation and climate change mitigation. Striking a balance between technological advancements and ecological responsibility will pave the way for a sustainable future.

The new drone wars: as prices fall, casualties mount

Shahed drones used by Houthi rebels cost around £16,000, while Sea Viper missiles used by the British navy to fend them off cost upwards of £1m

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AI has a significant impact on the energy sector. More energy is used in training the AI models as well as in data centres. For example, when we compare the energy consumption of a random household and the energy required to train large language models like MegatronLM, an AI model developed by Nvidia. The MegatronLM’s training involved the use of 512 V100 GPUs over nine days, with each GPU consuming approximately 250 watts. This totals to 128,000 watts or 128 kilowatts (kW) for the entire duration of the training.

Whereas, a random household consumes an average of 12,000 kilowatt hours (kWh) annually. So, it becomes evident that the energy used in training the AI model surpasses the annual energy consumption of more than two households. This comparison highlights the energy requirements involved in training of advanced AI models.

Moreover, data centres are using a huge amount of energy. For instance, the Weather Company, an entity under IBM, engages in the processing of approximately 400 terabytes of data on a daily basis, a computational endeavour directed toward enhancing the predictive capabilities of its weather forecasting models globally. In a parallel vein, Facebook undertakes the generation of a voluminous 4 petabytes (equivalent to 4,000 terabytes) of data each day. According to the latest estimates, 328.77 million terabytes of data are created each day.

Hence, it is important to note that the most extensive data centres necessitate power capacities exceeding 100

The US needs to get out of the Middle East — soon

Nimra Javed can be reached at: @NimrahJaved_

What makes the US presence in the Middle East especially relevant is that it’s also the prime case study in a larger debate about America’s role in the world. Should the US remain a hegemon, using its leadership to preserve a modicum of global order? Or should it retrench to deal with its own problems, leaving an increasingly multipolar and anarchical world to unrestrained power politics?

GUARDIAN Editorial

HREE days into his presidency, Barack Obama ordered his first drone strikes. Over the next eight years, he oversaw a massive expansion of the US programme of targeted killings using armed drones. The initial appeal was that the US did not risk its personnel, and strikes could be carried out without attracting much attention and, supposedly, with more precision – though civilian deaths were ignored or played down.

But in the ensuing years, drone wars have undergone a dramatic evolution. Never before have so many drones been used, so intensely. The US programme relied on expensive Predator drones costing about $12m (£9.5m). But much cheaper drones made by Turkey, Iran and China have been credited for victories, including Ethiopia’s reversal of the rapid advance of the Tigray People’s Liberation Front, and for damaging attacks by non-state actors. In 2021, Gen Kenneth McKenzie, then commander of US Central Command, observed: “For the first time since the Korean war, we are operating without complete air superiority.”

The picture has come even more starkly into focus since he spoke. In Ukraine and Myanmar, commercial drones designed for hobbyists or agriculture and costing just a few hundred dollars have been equipped for attacks, aiding the underdog in asymmetric conflicts. (The Royal United Services Institute estimated last year that Ukraine was losing 10,000 drones a month.) Myanmar’s junta is struggling to hold on to the country after three years of civil war, with drones playing a key role.

Two weeks ago, more sophisticated Ukrainian sea drones, reportedly costing tens of thousands of dollars, sank a Russian warship worth tens of millions in the Black Sea. The importance of the new breed of armed drones should not be overstated. Most of them fail in their missions. The damage they can inflict is minimal compared with missiles. They are often most effective for symbolic strikes or damage to economic infrastructure, such as power networks, and when used alongside conventional weapons. A 2019 drone and missile attack on oilprocessing facilities – claimed by Houthis, though others had their doubts – temporarily halved Saudi Arabia’s oil production.

Using drones has also enabled Ukraine to hit targets deep in Russian territory, which it is not allowed to do with donated weapons. And even when the devices are intercepted, the cost can be punitive: Shahed drones used by Houthi rebels cost around £16,000, while Sea Viper missiles used by the British navy to fend them off cost upwards of £1m. The effectiveness of armed drones is sufficiently evident that Russia has adopted Ukraine’s techniques itself. The US military is also looking to invest in large numbers of cheap drones alongside its multimillion-dollar Reapers.

The dangers are mounting as technology develops: one major concern is powerful AI-enabled drone swarms of multiple devices communicating with each other autonomously. The risk of these in the hands of terrorist groups is particularly stark.

Islamic State was an early adopter of attack drones.

Though some actors will not be bound by rules, the rapid proliferation demands serious international discussion of drone use, rather than just unilateral codes – however hard that is to envision under current circumstances. The US drone wars showed how unmanned aerial vehicles increased secrecy around military missions, reduced accountability and, critically, lowered the threshold for the use of force. Proper regulation of their use, including human oversight and greater transparency, is essential.

coming warmer and climate change impacts are also worsening day by day. AI has the ability to analyze vast amounts of data so it can be used to mitigate climate change. The World Economic Forum defines AI as “pertains to computer systems endowed with the capability to perceive their surroundings, engage in cognitive processes, acquire knowledge, and execute actions in alignment with both their sensory input and programmed objectives.”

For instance, in India, the integration of AI has significantly increased groundnut yields by 30 percent per hectare for farmers. This improvement is attributed to AI’s provision of crucial information regarding land preparation, optimal fertilizer application, and the selection of appropriate sowing dates.

Conversely, in Norway, AI has played a pivotal role in establishing a versatile and self-regulating electric grid, enhancing its capacity to assimilate a greater proportion of renewable energy sources. Additionally, AI applications have demonstrated notable success in achieving accuracy rates ranging from 89 to 99 percent in the identification of tropical cyclones, weather fronts, and atmospheric rivers. The latter, known for inducing heavy precipitation, poses a challenge for human identification, further underscoring the value of AI assistance. By enhancing the precision of weather forecasts, these AI-driven programs contribute to the safeguarding of individuals, exemplifying the multifaceted benefits AI brings to diverse sectors.

It is essential to implement sustainable practices in AI development and usage, such as optimizing energy efficiency in model training and data centres. Collaborative initiatives between governments, industries, and research institutions can drive the development of eco-friendly AI technologies. Investing in renewable energy sources for AI operations and promoting transparency in carbon footprint reporting are crucial steps. Additionally, ongoing research and innovation should focus on creating AI solutions that actively contribute to environmental conservation and climate change mitigation. Striking a balance between technological advancements and ecological responsibility will pave the way for a sustainable future.

T

BLOOMBERG

andrEas Kluth

HE US has about 46,000 troops stationed in 11 countries across the Middle East, with all the accompanying hardware and support. Those forces are not available elsewhere, whether in Europe or East Asia, where America’s most ominous foes need deterring and its closest allies need reassuring. One of the biggest strategic questions for US President Joe Biden — or Donald Trump if he wins in November — is whether to maintain this huge American presence or draw it down.

Right now would be the wrong time for such a drastic change. America is consumed by partisan acrimony in the run-up to its election. Israel is waging war in the Gaza Strip and stands accused of genocide. And Iran-backed militias from Yemen to the Levant have not only the Zionists but also US troops in their crosshairs. One such group killed three Americans with a drone strike on a US base in Jordan just the other day. If the US were to pull out now, it would hand Tehran a propaganda victory and risk chaos reminiscent of 2021, when Biden fecklessly abandoned Afghanistan.

But what about the medium term? At some point this year, the hot phase of Israel’s campaign against Hamas will end. Iran and its proxies may, after Biden’s retaliation this month for the three dead Americans, refrain from major escalation against US forces. And by the end of the year, fingers crossed, Americans may know who’ll be in the White House for the next four years.

What makes the US presence in the Middle East especially relevant is that it’s also the prime case study in a larger debate about America’s role in the world. Should the US remain a hegemon, using its leadership to preserve a modicum of global order?

Or should it retrench to deal with its own problems, leaving an increasingly multipolar and anarchical world to unrestrained power politics?

I gravitate toward the former camp, also known in Washington as internationalism (as opposed to isolationism). History shows that periods when hegemony is absent or ambiguous (such as the 1920s and 30s) tend to end in disaster (World War II). Even for a hegemon, it’s cheaper in the long run to incur the costs of keeping order than to clean up the messes of global calamity.

But even internationalists need to accept that hegemony cannot mean that the US must be active everywhere all the time. Christopher Preble at the

Stimson Center, a think tank in Washington, argues that the US has already lost global “primacy” and can’t afford to get it back. During the last two decades of the Cold War, for example, US public debt averaged 38% of economic output; last year, it ran to three times that ratio. Americans increasingly want their country to invest in solving problems at home, and to set clear priorities abroad.

Is the Middle East such a priority? My colleague Hal Brands argues that the history of failed American attempts to exit the region proves its geopolitical centrality and means that the US must stay because “such is the burden of a hegemon.”

Others beg to differ. Daniel Depetris at Defense Priorities, another Washington think tank, thinks the US should withdraw its roughly 3,400 military personnel in Iraq and Syria as soon as possible, and eventually also the tens of thousands in the Gulf states and the rest of the region.

That’s because the US troops have completed their ostensible mission of the past decade, which has been to destroy the Islamic State, a barbaric terrorist group that formed in the aftermath of America’s ill-considered second war against Iraq. Today, the Islamic State no longer controls any territory and has been degraded to a point where its regional foes, from Syrian Kurds to Shia fighters, can keep it subdued without US help.

Other more expansive justifications for a US presence are iffy, Depetris argues. For example, the US, a net exporter of oil nowadays, relies much less on hydrocarbons from the Gulf region than it did during the oil shocks of the 1970s, and world markets have become more resilient too. Over time, the Western economies will supposedly wean themselves from fossil fuels anyway. So if Iran tried to close the Strait of Hormuz, it would hurt its own customers, notably China. In any case, the US and its allies can intervene to keep trade routes open even without a permanent presence.

Some strategists want the Americans to stay in order to prevent Iran from becoming a regional hegemon. But Iran is nowhere near as militarily dominant in its neighborhood as Russia and China are in theirs. Besides, the region’s other powers, notably Saudi Arabia and Turkey, would organize constellations to counter Tehran’s weight. The US can support such efforts by building alliances — Turkey is already a NATO member, and Washington is in talks with Riyadh about mutual security guarantees.

The idea that an American exit would create a vacuum that Moscow or Beijing would step into is also overblown. Russia dabbles in Syria, Africa and elsewhere, but it’s mainly trying to project its power into eastern Europe and central Asia, as well as the Arctic. China is eyeing the Taiwan Strait and the East and South China Seas. A US withdrawal wouldn’t hand the Middle East to the Kremlin or Zhongnanhai just as the US retreat from Vietnam didn’t give them Southeast Asia.

The strategic downsides of the US presence are clearer. As Kelly Grieco, also at the Stimson Center, argues, the Americans in the Middle East, instead of deterring Iran and its proxies, serve as provocations and targets, breeding anti-Americanism and terror-

ism. The recurrent need for the US to retaliate titfor-tat against low-level attacks raises the risk of unintended escalation drawing the US into a major war that it and the world don’t need.

Moreover, Washington, by deploying its own strength, actually encourages its partners, such as Riyadh, to free-ride and do less than they could for regional security. As it happens, neo-isolationists also use this argument to demand more US “restraint” in Europe and East Asia.

Does the American defense umbrella not tempt Japan, say, to spend less than it otherwise would to protect itself against China and North Korea? Does Germany not shirk its duties in the transatlantic alliance against Russia? Trump taps into American frustration at such perceived free-riding, claiming that he would encourage the Russians to do “whatever the hell they want” to Washington’s European allies who skimp on their armies.

Washington must indeed manage the moral hazard that comes with American alliances. And there are positive signs already. Tokyo just passed its largest ever military budget, and Berlin has set up a special fund to boost its defense spending.

But there are also huge differences between the US commitments in Europe and East Asia and those in the Middle East. By invading the sovereign country of Ukraine and threatening Moldova and others, Russia has brought naked imperialist aggression back to Europe. And by threatening Taiwan and the countries around the South China Sea, China has thrown its revanchist gauntlet at the entire “rulesbased” international order. Russia has the world’s largest arsenal of nuclear weapons; China has the third largest and entertains ambitions for parity with Russia and the US. If there is ever, heaven forbid, a World War III, it will be between the US and one or both of these autocracies.

By contrast, neither the tragic 75-year-old conflict between Israelis and Palestinians nor the 45year quest by Iran’s theocracy for regional dominance needs to escalate into a global conflagration. Israel, with the region’s strongest army and its only nuclear arsenal, can defend itself. Iran is best dissuaded from building its own nukes, but could be deterred by Israel much as India and Pakistan hold each other in check. In time, it’s up to the peoples of the Middle East to make peace, and no outside power can force them.

What the debate about the US presence in the Middle East boils down to is opportunity cost. An American soldier standing guard at Tower 22 in the Jordanian desert cannot simultaneously watch over the NATO border in Estonia, the demilitarized zone on the Korean peninsula or Philippine shoals in the South China Sea. Captain America has a shield that’s big but not global. To keep holding it over Europe and East Asia, he must withdraw it from the Middle East.

Andreas Kluth is a Bloomberg Opinion columnist covering US diplomacy, national security and geopolitics. Previously, he was editor-in-chief of Handelsblatt Global and a writer for the Economist.

06 NEWS

CISCO TO CUT MORE THAN 4,000 JOBS, LOWERS ANNUAL REVENUE FORECAST Shares of networking equipment maker fell more than 5% in extended trading on Wednesday

C g

Friday, 16 February, 2024 | ISLAMABAD

PROFIT

By ReuteRs

ISCO Systems (CSCO.O) said it would cut 5% of its global workforce, or more than 4,000 jobs, and lowered its annual revenue target as the company navigates a tough economy that has led to thousands of layoffs by tech firms this year.

Shares of the networking equipment maker fell more than 5% in extended trad-

ing on Wednesday, after Cisco cut the forecast to $51.5 billion to $52.5 billion from $53.8 billion to $55 billion, it projected earlier. “We also continue to see weak demand with our telco and cable service provider customers,” CEO Charles Robbins said in a conference call.

Analysts expect demand for Cisco’s products to remain under pressure, as clients in the telecom industry restrict spending, prioritizing clearing their excess inventory of networking gear.

The networking hardware inventory

pile-up should resolve in the second half of 2024 or early 2025, Joe Brunetto, analyst at Third Bridge said.

Meanwhile, Cisco is focusing on artificial intelligence and partnership with Nvidia to boost growth. CEO Robbins said Nvidia (NVDA.O) agreed to use Cisco’s ethernet with its own technology that is widely used in data centers and AI applications.

Cisco expects third-quarter revenue between $12.1 billion and $12.3 billion, below estimates of $13.1 billion, according to LSEG data. The company, which has 85,000

employees, was planning layoffs and restructuring to focus on high-growth areas, three sources familiar with the matter told Reuters earlier this month.

It will incur a charge of $800 million on the layoffs before tax consisting of sever-

ance and other costs and expects to recognize majority of the charges in the first half of fiscal 2025. In the second quarter, Cisco recorded an adjusted profit of 87 cents per share and revenue of $12.79 billion, both above LSEG estimates.

Govt moves forward with FWBL share sale to UAE g

UAE expresses interest in acquiring federal government's shares in FWBL through a formal agreement PROFIT

News Desk

The government is poised to divest its shares in the First Women Bank Limited (FWBL) to the United Arab Emirates (UAE), potentially through either the Privatisation Commission or the InterGovernmental Commercial Transactions Act, 2022.

Sources familiar with the matter disclosed that the decision comes following the placement of FWBL on the Active Privatisation Programme by the Cabinet Committee on Privatisation (CCoP) in October 2018, subsequently ratified by the Federal Cabinet in November 2018.

According to reports, the Privatisation Commission issued a Request for Proposals (RFP) in October 2019, inviting both Technical and Financial Proposals.

After a thorough evaluation process, a consortium comprising MIS Bridge Factor & National Bank of Pakistan was appointed as the Financial Advisor for the

FWBL privatisation, with the approval of the Privatisation Commission Board in December 2019.

The Financial Advisory Services Agreement (FASA) was subsequently signed in January 2020.

Despite progress, the absence of audited accounts from fiscal years 2018 to

2021 delayed further steps, including the issuance of Expressions of Interest (EoI) or Requests for Statements of Qualifications (RSOQ).

The FASA, initially signed for a twoyear period, was extended twice, with the latest extension approved until April 2025.

Notably, the Government of UAE has

expressed interest in acquiring the federal government’s shares in FWBL through a formal agreement, in compliance with relevant laws and regulations.

The Federal government has approved the Privatisation Commission (Government-to-Government Agreement Mode, Manner, and Procedure) Rules, 2023, facilitating such transactions under the InterGovernmental Commercial Transactions Act, 2022.

The valuation process for the government’s shares in FWBL has been initiated by the Financial Adviser, employing methodologies outlined in the aforementioned rules.

The proposal to proceed with the sale to UAE was brought before the Federal Cabinet, which ultimately approved the Privatisation Ministry’s recommendation regarding FWBL. The next steps involve either directing the Privatisation Commission to continue with the bidding process or referring the transaction to the Cabinet Committee for the constitution of a Negotiation Committee, approval of the price discovery mechanism, and reference price, as per the Inter-Governmental Commercial Transactions Act, 2022, and associated rules.

Govt bond sale nets Rs83b, missing target g

Analysts attribute auction results to govt's hesitancy in generating funds at higher rates PROFIT

News Desk

The government’s attempt to raise funds through the sale of fixed-rate Pakistan Investment Bonds fell short of its target, securing Rs83 billion instead of the aimed Rs125 billion. Investors displayed caution amidst uncertainties surrounding inflation and gas prices.

According to data from the central bank, the government sold three-, five-, and 10year bonds with yields largely unchanged from the previous auction in January.

The cut-off yield on the five-year bond experienced a slight increase of 5 basis points to 15.5499 percent, while yields on the three- and 10-year bonds remained steady at 16.7999 percent and 14.500 percent, respectively. Notably, bids were absent for the 15-, 20-, and 30-year bonds, indicating the market’s reluctance to commit funds for longer durations due to unclear inflation projections and anticipated gas price hikes.

Analysts attribute the auction results to the government’s hesitancy in generating

funds at higher rates, despite the necessity to cover the budget deficit. Market participants await clarity on the potential gas price revision and its impact on inflation.

Reports suggest that the Economic Coordination Committee is poised to review gas prices, subject to approval by the federal cabinet, followed by notification from the Oil and Gas Regulatory Authority (OGRA).

Considering the weightage of gas prices in the national consumer price index basket, analysts estimate a potential 10.6 percent increase in gas prices across all income quintiles, leading to an inflationary surge of approximately 43 basis points.

Factoring in these effects, analysts anticipate the Consumer Price Index for FY24 to reach 24.91 percent year-on-year.

Monetary policy easing is expected to commence in March, with the State Bank of Pakistan maintaining the policy rate at 22 percent last month.

This decision was influenced by the moderation in the anticipated decline in inflation, attributed to frequent adjustments in administered energy prices.

Britain’s economy falls into recession PROFIT

ReuteRs

Britain’s economy fell into a recession in the second half of 2023, a tough backdrop ahead of this year’s expected election for Prime Minister Rishi Sunak who has promised to boost growth. Gross domestic product (GDP) contracted by 0.3% in the three months to December, having shrunk by 0.1% between July and September, official data showed.

The fourth-quarter contraction was deeper than all economists’ estimates in a Reuters poll, which had pointed to a 0.1% decline. Sterling weakened against the dollar and the euro. Investors added to their bets on the Bank of England (BoE) cutting interest rates this year and businesses called for more help from the government in a budget plan due on March 6.

Thursday’s data means Britain joins Japan among the Group of Seven advanced economies in a recession, although it is likely to be short-lived and shallow by historical standards. Canada has yet to report GDP data for the fourth quarter. Britain’s economy stands just 1% higher than its level of

late 2019, before the COVID-19 pandemic struck – with only Germany among G7 countries faring worse.

Sunak promised to get the economy growing as one of his key pledges to voters last year. His Conservative Party has dominated British politics for much of the past seven decades, with a reputation for economic competence. But Labour is now more trusted with the economy, according to opinion polls.

British households are due to see their first drop in living standards between one national election and the next since the Second World War, analysts have said. Ruth Gregory, deputy chief UK economist at Capital Economics, said the GDP figures had more political significance than economic, with voters due to elect lawmakers in two constituencies on Thursday.

“The news that the UK slipped into technical recession in 2023 will be a blow for the prime minister on a day when he faces the prospect of losing two by-elections,” Gregory said.

Finance minister Jeremy Hunt said there were “signs the British economy is turning a corner” and “we must stick to the plan – cutting taxes on work and business to build a stronger economy.”

HBL EAFC gaming tournament crowns champions KARACHI

stAff RepoRt

The inaugural EAFC Gaming Tournament, held under the auspices of Konnect by HBL, offered a platform for aspiring and established Esports players to showcase their skills and compete. The electrifying EAFC Football Game competition, held in Karachi, drew over 100 enthusiastic gamers, showcasing their skills and passion for the virtual arena.After hours of intense competition, the top three finalists emerged victorious, leaving the audience in awe of their gaming prowess and lightning-fast reflexes. The podium finishers are: 1st Place: Arham Ghauri – Claiming the coveted champion trophy and a grand prize of PKR 250,000.

2nd Place: Areeb Rehman – Taking home the runner-up prize of PKR 150,000.

3rd Place: Salman Shah – Earning the thirdplace honours and a prize of PKR 100,000.

Commenting on the initiative, Ali Habib, Chief Marketing & Communications Officer – HBL, said, "HBL congratulates all the gamers for their skills and sportsmanship. This EAFC tournament marks a new chapter in Pakistan's Esports landscape: Konnect by HBL will deepen its association with Esports. Aur Khelo.”

Kites battle drones as farmers take on police during India protests DELHI

AgeNcies

Farmers protesting in India this week are using a homemade arsenal to counter the state-of-theart weaponry of the security forces trying to disperse them: they’re flying kites to ensnare police drones carrying tear gas canisters. For the past two days, thousands of farmers have fought pitched battles with security forces some 200 kilometres north of Delhi after police stopped their “Delhi Chalo” or “Let’s go to Delhi” march to the capital to demand the government provide higher prices for their crops.

On Thursday, representatives of the farmers unions met with government officials in a bid to reach a solution. The farmers had brought their tractors and trucks along to the protest and have used these, and other farm equipment, as deterrents to the police action: jute vegetable sacks are soaked in water and used to contain the tear gas canisters while blowers disperse

Friday, 16 February, 2024 | isLAMABAD

CORPORATE CORNER Peshawar Zalmi embraces Bank Makramah as official banking partner for HBL PSL 9

KARACHI: Peshawar Zalmi, renowned for its cricketing prowess and commitment to community engagement, has proudly announced its official partnership with Bank Makramah Limited (BML) for the highly anticipated HBL Pakistan Super League (PSL) Season 9. This collaboration signifies a monumental step forward in promoting sports excellence and fostering youth development initiatives across Pakistan.Mr. Javed Afridi, Chairman of Peshawar Zalmi stated, "We are excited to form an alliance with BML as our official Banking Partner for HBL PSL 9. This partnership underscores our mutual commitment to promoting sports and nurturing talent in Pakistan. Together, we aspire to inspire the next generation of cricketers and make a positive impact on communities nationwide." Mr. Abdulla Nasser Abdulla Hussain Lootah, Chairman of the Board of Directors of BML shared his views and added, “BML is elated to partner with Peshawar Zalmi, the biggest PSL franchise in terms of brand value. This collaboration underscores our dedication to igniting the cricketing passion, especially among the vibrant youth of Pakistan. With a championship title in PSL Season 2, and an impressive four-time finalist record, Peshawar Zalmi's unwavering prowess and consistent performance cannot go unnoticed. Our partnership aims not only to champion the team. PR

15th Karachi Literature Festival: All set to celebrate crystal edition for Cultural and Intellectual Exchange

KARACHI: The Karachi Literature Festival (KLF), one of Pakistan's most anticipated cultural events, is back for its 15th edition. Scheduled from 16 to 18 February 2024, at the prestigious Beach Luxury Hotel in Karachi, the festival promises to be a vibrant celebration of literature, art, and intellectual discourse.Under the theme of 'Sustainability: Words changing Mindsets,' the 15th KLF will feature over 200 local and international speakers representing 8 countries participating in 75 sessions covering a diverse range of topics including literature, economy, environment, education, and current affairs. Additionally, guests can expect 25 book launches alongside engaging activities such as drama, satire, exhibitions, film screenings, and various artistic expressions.The inaugural event on Friday16 February, will be open to the public and will include keynote speeches by renowned figures such as Pakistani architect and activist Arif Hasan, as well as British-Palestinian lawyer and writer Selma Dabbagh, followed by a performance on Faiz’s poetry by the talented Nighat Choudhry. PR

PSO posts PKR 7.7 billion profit in 1HFY24

The national energy icon Pakistan State Oil (PSO), continues to dominate the industry while maintaining steady performance in 1HFY24. The company announced a net profit of PKR 7.7 billion, translating into earnings per share of PKR 16.51 and gross sales of PKR 1.9 trillion for the period.

The company's Board of Management (BoM) reviewed the group’s performance for the half year ended December 31, 2023 in the meeting held on February 15, 2024. The group posted a net profit of PKR 12.2 billion for the period, translating into earnings per share of PKR 26.01.

Amidst soaring inflation, stagnant growth and geopolitical tension, the petroleum sector witnessed a downturn in product demand. PSO adeptly maneuvered through the obstacles and ensured uninterrupted nationwide fuel supply.

PSO bolstered its market share in white oil with a notable 1.9% increase, reaching 52.6% by the end of the period. This growth was primarily attributed to increase in gasoline sales, where the company augmented its market share by 3%, reaching 46.1% for 1HFY24. The company maintained the lions share in the diesel market with a share of 55.3%.

Continuing to dominate the black oil market, PSO sold 153 KMT during the period despite a 57.4% decline in sales of the segment on YoY basis owing to low furnace oil-based power generation. PR

Army's Saddamul Haq won third Torsum Khan All Pakistan Squash C’ship

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BOARD AUTHORISES MANAGEMENT TO EXPLORE FEASIBILITY OF POTENTIAL MERGER PROFIT

NEWS DESK

EDIA Times Limited has announced that its Board of Directors has approved the exploration of a merger with any real estate company.

According to a notice sent to the Pakistan Stock Exchange (PSX), the Board of Directors, in its meeting held on 14 February 2024, authorised the company to explore the feasibility of potential merger of the company with any real estate company and upon finalisation by the management, alongwith the requisite documents, the same may be

presented to the board for approval.

“The company has also been authorised to, inter alia, engage legal, financial and such other advisors and consultants as may be required for the purpose of merger and carry out other necessary steps and actions, including to conduct necessary evaluation/recommendation of the potential merger,” read the notice.

The company’s actions are in line with the requirements of the Securities Act 2015 and the rules of the Pakistan Stock Exchange. Stakeholders will be kept informed of the progress on this matter, as stated by Shahzad Jawahar, the Company Secretary of Media Times.

Shell’s LnG outlook 2024 predicts 50% surge in global demand by 2040 g

Lucky Core Industries, Dalda Foods sign MoU

REPORT NOTES A SUBSTANTIAL RISE IN GLOBAL LNG TRADE, REACHING 404 MILLION TONNES IN 2023, UP FROM 397 MILLION TONNES IN 2022 PROFIT

MONITORING DESK

Shell’s LNG Outlook 2024 anticipates a remarkable 50% increase in global liquefied natural gas (LNG) demand by 2040. The forecast is driven by China’s swift shift from industrial coal to gas and the rising adoption of LNG across South and East Asia for economic development. The report notes a substantial

rise in global LNG trade, reaching 404 million tonnes in 2023, up from 397 million tonnes in 2022. Industry estimates project a significant leap in LNG demand to 625-685 million tonnes per annum by 2040, signaling a transformative shift in the energy landscape.

Steve Hill, Executive Vice President of Shell Energy, highlights China’s pivotal role in fueling LNG demand growth, emphasizing its influential position in shaping the future of the LNG market.

Digital export summit held between pakistan and Turkiye ISLAMABAD PR

Pakistan’s Embassy in Turkiye in collaboration with TUYAFED (Turkish federation of associations operating in the software and IT sector) organized a ‘Digital Export Summit’ in virtual format on 15 February 2024. The thematic areas of the summit included fintech, gaming, telecommunications, cyber security, e-governance, A.I. & robotics, e-tourism, e-commerce, corporate software, defense technologies, energy and sustainability, health and education.

Apart from Consulate General of Pakistan in Istanbul, relevant institutions from Pakistan including Ministry of Commerce, Trade De-

velopment Authority of Pakistan (TDAP), Pakistan Software Export Board (PSEB), Pakistan IT Industry Association (PASHA), National Incubation Centre for Aerospace Technologies (NICAT) and others participated in the event. The Summit was well attended by more than 150 software companies from both the countries as well as IT professionals.

Ambassador Dr. Yousaf Junaid in his opening remarks thanked TUYAFED and the participants for their presence and highlighted the immense potential for bilateral trade and investment in the IT sector. Underscoring the importance of deepening cooperation in the IT sector, he said that both the countries would be able to boost IT ex-

ports as well as develop indigenous cutting-edge technologies. He added that this summit would play an important role in implementing the vision of strengthening technological cooperation between the two countries, envisioned by their leadership. His remarks were followed by presentations by Mr. Zeeshan Rehman, Chief Commercial Officer PSEB and Mr. Khuram Rahat, Vice Chairman, PASHA. Addressing the Summit, President TUYAFED Mustafa Çalış gave an overview of the Turkish IT eco-system and opportunities available for bilateral collaboration. He added that this Summit would help forge business relations between the IT companies of both the countries.

SSP operations commends officials for effective measures during elections ISLAMABAD PR

Following the special directions of Islamabad Capital City Police Officer (ICCPO) Dr. Akbar Nasir Khan, the Senior Superintendent of Police (Operations) presided over a crime meeting. The meeting was attended by all Zonal DPOs, SDPOs and all incharge police stations.

SSP Operations commended all the officers for good duties during the elections. He reviewed the performance of all police stations in detail. During the meeting, the SSP Operations reviewed the crime situation in the federal capital and commended the performance of the police officials for effective measures in crime combating. SSP Operations also emphasized the need for continued vigilance and proactive measures.

He directed all Zone DPOs to boost the campaign against drug peddlers in different areas of the city adding that a special crackdown against proclaimed offenders and absconders should be started immediately.

He further directed the officials to ensure the arrest of the suspects involved in dacoity, vehicle and motorcycle theft especially against those involved in murder cases adding that the ratio of challan of the cases and recoveries should be increased.

He also asked the officers to evolve a comprehensive strategy for prevention of crimes. He further said that patrolling of dolphin and police stations should be made more effective and purposeful.

The campaign against beggars should be accelerated, especially their facilitators should be identified and arrested, he added.

He also directed the officers to prioritize the security and protection of citizens' lives and properties. At the end, he called upon all officers to fulfill their duties with utmost diligence and courage, emphasizing that they are part of an esteemed police force, and the dignity and honor of this force are their responsibility.

Training on leadership traits for Bisp officers conducted ISLAMABAD PR

KARACHI: 3rd Image Tursum Khan All Pakistan Tursum Khan Squash Championship ends with victory of Pakistan Army's Saddamul Haque. Army's Saddamul Haq defeated Sindh's Naveedur Rehman by three zero games in the men's final at Roshan Khan Jahanigir Khan Squash Complex. The score of Saddam's victory was eleven seven, eleven nine and thirteen eleven. In the women's final, WAPDA's Mehwish Ali outclassed her younger sister Mah Noor Ali in strait games. Mehwish won by eleven five, eleven four and twelve ten in just twenty minutes. In the boys under fifteen final, Ahmad Ryan Khalil defeated Abdullah Zaman and became the winner. Chief guest Image Pakistan CEO Asad Ahmed and squash legend Jahangir Khan distributed the prizes among the players. Commodore Toqeer Ahmed Khawaja of Pakistan Navy and tournament referee Naveed Alam and representative of Pakistan Olympic Association Asif Azim and others were also present on this occasion. PR

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MEDIA TIMES SEEKS MERGER OPPORTUNITIES WITH ANY REAL ESTATE COMPANY news

Chairperson Benazir Income Support Programme (BISP), Dr. Muhammad Amjad Saqib has emphasized the significance of leadership, stating that it encompasses vision, knowledge, skills, and traits.

He underscored the importance of integrity and humility, highlighting that integrity is the alignment between words and actions, and humility is essential in inspiring others.

While addressing the officers of grade 17 & 18 (BISP HQs and BISP field offices) in a training session at Institute of Rural Management (IRM) today, Dr. Amjad Saqib reiterated that it is a collective dream and an apolitical program dedicated to serve 9.3 million poor families across Pakistan, regardless of caste, color, or creed. He stressed that BISP stands as one of the nation's

premier institutions, committed to uplifting marginalized communities. The session aimed to enhance the leadership skills and capabilities of BISP officers in effectively serving the community.

Dr. Amjad Saqib shared his firsthand observations of extreme poverty among women beneficiaries during his visits from Khyber Pakhtunkhwa province to Sindh.

He urged the importance of serving these deserving individuals, equat-

ing it to an act of worship.

Addressing BISP employees, Dr. Amjad Saqib urged them to provide comprehensive assistance to needy women visiting BISP centers for registration or to receive their quarterly stipends. He underscored the importance of providing shelter, clean drinking water, and education on social and moral values, including environmental conservation and the significance of education for their children.

KARACHI: Lucky Core Industries Limited and Dalda Foods Ltd signed a Memorandum of Understanding (MoU) on January 23, 2024 to collaborate for the development and research of high-yield hybrid canola and sunflower seeds.

Through this collaboration, both parties envision reducing Pakistan's dependence on edible oil imports and helping create a sustainable value chain for local edible oil crop production.

This collaboration exemplifies the commitment of both the parties towards developing local capacity and their belief in the potential of Pakistan's agriculture sector. The MoU demonstrates how strategic collaborations for localisation can sustain industry operations while contributing to economic and social prosperity. Present at the ceremony were Nauman Afzal; Chief Operating Officer Chemicals & Agri Sciences Business Lucky Core Industries, Fahad Yousaf; General Manager Agri Sciences Lucky Core Industries, Faraz Ali; Manager Technology Development Agri Sciences Lucky Core Industries, Aziz Jindani; Chief Executive Officer Dalda Foods Ltd, Rehan Raie; Vice President Dalda Foods Ltd, Muhammad Imran; Supply Chain Head Dalda Foods Ltd, and Virender Kumar. PR

Protein Day 2024: 'Right To Protein' unveils ‘Solve With Protein' as theme for year

KARACHI: 'Right To Protein,' a dedicated awareness initiative powered by the U.S. Soybean Export Council (USSEC), unveils "Solve With Protein" as the theme for Protein Day 2024, to be celebrated on 27 February, marking its fifth year.

The initiative calls on individuals, businesses, and industry leaders to unite in addressing the surging demand for protein-rich foods, delivering protein solutions that are accessible to citizens across Pakistan and the larger South Asia region.The lack of understanding about protein as an essential macronutrient leads to inadequate levels of protein consumption. The Protein Day 2024 theme of “Solve With Protein” urges brands, thought leaders, community and health influencers, media, and citizens to amplify the message on protein's pivotal role in fostering a healthier and more resilient population. It also aims to drive conversations and highlight solutions for citizens to stay informed of accessible protein food sources that can be included in daily diets and further the efforts to make 'nutrition security' a reality. PR

CDA taking concrete measures for physical health, fitness of field staff

ISLAMABAD: The administration of the Capital Development Authority (CDA) is busy around the clock in beautifying the city of Islamabad and providing the best facilities to the citizens. The CDA administration is also taking concrete and effective measures regarding the physical health and fitness of the staff working in the field.In this regard, on Thursday, on the instructions of the Chairman Capital Development Authority (CDA), the DG civic management distributed protective and safety clothes among the sanitary workers whose are working in the field. According to the details, special face masks and splash face shields to protect the nose and mouth from human waste and sewage water were also distributed among the sanitary workers on the instructions of Chairman CDA. Moreover, in order to avoid human waste and other toxic elements in the field works, special cover-like clothes were also distributed which are light in weight and do not have any harmful effects on the human body. Similarly, protective gloves and shoes were also distributed among the sanitary workers to protect their hands and feet from toxic elements. PR

OGRA determines RLnG price

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Regasified Liquified Natural Gas (RLNG) prices for sui companies with effective from February 1st, 2024 as under: The decrease in RLNG prices is due to decrease in RLNG-DES price. The RLNG price notification for the month of February, 2024 is readily available at OGRA website www.ogra.org.pk. PR

PTI, JUI-F rEJEcT GEnEral ElEcTIonS 2024 aS ‘maSSIvEly rIGGEd’ NEWS

PPP entrusts mandate to PML-N for govt formation, says Kaira

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ISLAMABAD STAFF REPORT

N a significant development in Pakistan’s political scene, PTI and JUI-F rejected the 2024 General Elections as “massively rigged which would bring in more instability and chaos” in the country.

A delegation of the Pakistan Tehreeke-Insaf (PTI) arrived at the residence of Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman in Islamabad.

The delegation, comprised of Asad Qaiser, Amir Dogar, Barrister Saif, and Fazal Ahmed, sought to engage in discussions with Maulana Fazlur Rehman.

Notably absent from the delegation

was PTI Chairman Barrister Gohar Ali Khan. It was earlier being reported that Gohar would also be part of the delegation.

The delegation convened with Maulana Fazl to deliberate on the recent elections and the prevailing political landscape in the country, specifically addressing concerns regarding potential election irregularities.

According to sources, the PTI delegation relayed a message from former prime minister Imran Khan to Fazl.

They also extended an invitation to Fazl to collaborate with them in opposition and to jointly act against the alleged rigging during polls. Later, PTI delegation along with JUI-F leaders told media that both the parties had agreed that the

ISLAMABAD: People’s Party leader Qamar Zaman Kaira has said that the PPP has delegated mandate to the PML-N for formation of government.

It is to be mentioned here that Kaira has been a member of the six-member committee of the People’s Party that had been entrusted for talks with other political parties. Kaira said that the PPP will not get ministries but field its candidates for the Parliament and the assembly offices.

“We would have also work with the PTI, but the party’s founder has closed that door,” PPP leader said. “He has said that the PTI will not hold talks with three parties,” Kaira said. Kaira stressed that Pakistan required collective decisionmaking. He said Maulana Fazlur Rehman’s antagonism towards Asif Zardari have no reason. “The PPP extending its reach to the JUI as well as other political parties,” he said. “When the parties contest elections they criticize policies of other parties,” he said. “If the People’s Party or the PML-N will stay away from government formation, Pakistan will enter into a new crisis,” Qamar Zaman Kaira said. The PPP Chairman Bilawal Bhutto-Zardari earlier said that the PPP would lend its support to the incoming government but would not join the federal cabinet. He said the party was constituting a committee in this regard. The PPP committee comprises of Qamar Zaman Kaira, Murad Ali Shah, Saeed Ghani, Nadeem Afzal Chan, Sardar Sanaullah Zehri and Shuja Khan. STAFF REPORT

general elections 2024 was massively rigged and it would bring more instability and chaos and hence both the parties had rejected these polls. However, both the parties agreed to continue their interaction for future strategy.

PTI’s Barrister Saif has said that a party delegation met JUI-F chief Fazlur Rehman on the instructions of party

founder Imran Khan to contact all political parties which were aggrieved by the irregularities in the conduct of the elections.

“PTI has announced that we will do a country-wide protest on Saturday and this process will continue because the JUI has also expressed doubts about the elections and their results and rejected them,” he said.

US repeats call for probe into rigging allegations in Pakistan elections WASHINGTON

STAFF REPORT

The United States has once again called for conducting an investigation into the rigging allegations in Pakistan’s general elections as it termed the exercise “competitive”, reported.

US State Department spokesperson Matthew Miller has said that the United States has called for rigging allegations in Pakistan general elections to be investigated.

Briefing the media in Wash-

Police pick up PTI backed elected independent candidate from PP-165 lahore LAHORE

STAFF REPORT

PTI-backed elected independent candidate from PP165 Lahore, Ahmar Rashid Bhatti was arrested by the law enforcement authorities.

Bhatti’s father confirmed the development, saying that his son was apprehended by the Township police station and was sought after in various legal cases.

According to police reports, Bhatti is a named accused in the central case of May 9 violence. The arrest was made based on video evidence implicating Bhatti in an attack on Jinnah House (Corps Commander House, Lahore).

The police took swift action today, apprehending Bhatti and transferring him to the township police station. Concurrently, the political landscape in Punjab witnesses an influx of independent members pledging allegiance to the PML-N. Six newly elected members of the Punjab Assembly have officially announced their decision to join the Pakistan Muslim-League (PML-N). Notable leaders such as Shehbaz Sharif, Rana Tanveer, and Khawaja Saad Rafiq graced the occasion as Sultan Bajwa, Hanif Patafi, Mahmood Qadir Khan, and Taimur Lali joined the ranks of the party.

Expressing unwavering confidence in Muhammad Nawaz Sharif and Shehbaz Sharif, the new members conveyed their congratulations to Shehbaz Sharif on his nomination as Prime Minister by party leader Muhammad Nawaz Sharif and allied parties.

Shehbaz Sharif emphasized the importance of unity and cooperation in overcoming Pakistan’s challenges, pledging to serve the people and adhere to Nawaz Sharif’s vision for the nation’s progress and economic stability.

ington on Wednesday, Matthew Miller said that US thinks that investigation into the rigging is an appropriate step to take. “That is our response to questions of irregularities not just in Pakistan, but when we see them anywhere in the world and we think that they’re thoroughly investigated and resolved,” he said.

Replying to a question, Miller said that elections in Pakistan were competitive, and Washington looks forward to working with the gov-

ernment, once it’s formed, that the people of Pakistan elected.

He said that formation of a coalition government is ultimately an internal matter of Pakistan. Ultimately that’s not a decision for the United States to make. It’s a decision for Pakistan to make.

Matthew Miller said that there are number of countries that have parliamentary systems of government, where no party gains a majority and some kind of coalition governments are formed.

Friday, 16 February, 2024

PRAYER TIMINGS FAJR SUNRISE

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ASR MAGHRIB ISHA

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Fatima Fertilizers, lucky cement acquire direct stake in Balochistan-based mining company

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CCP GREENLIGHTS ACQUISITION OF 66.6% CUMULATIVE STAKE IN NATIONAL RESOURCES PROFIT

GHULAM ABBAS

The Competition Commission of Pakistan (CCP) has granted approval to two significant mergers in Balochistan’s copper and minerals mining sector. The approvals mark a pivotal step towards fostering development in the region’s mineral industry.

As per details, the approved mergers involve the acquisition of a cumulative 66.66% shareholding in M/s. National Resources (Private) Limited by two publicly listed companies.

M/s. Lucky Cement Limited, a prominent player in the cement manufacturing and marketing sector, initiated the merger process by submitting a premerger application to acquire a 33.33% stake in National Resources (Private) Limited from M/s. Y.B Pakistan Limited. It is noteworthy that YB Pakistan, sponsored by Yunus Brother Group is also a group company of the larger Lucky Group of Companies.

Similarly, M/s. Fatima Fertilizer Company Limited, a distinguished entity in fertilizer and chemical production, sought approval to acquire the same share percentage from M/s. Reliance Commodities (Private) Limited.

Bothe Lucky and Fatima groups are frontline businesses in Pakistan. While Fatima group mainly focuses on fertilizer, textile, sugar and energy businesses, Lucky is a frontrunner in cement, energy, manufacturing among other businesses.

National Resources (Private) Limited, a private limited company, is a company that is actively engaged in exploration, survey, extraction, excavation, mining, and boring of minerals. With its primary focus on developing Balochistan’s mineral sector, the infusion of investment promises to catalyze mineral exploration efforts in the region.

By scrutinizing the proposed transactions, CCP ensured that the mergers would not result in the acquirers gaining undue dominance in the relevant market post-transaction. Beyond financial gains, these mergers hold the promise of unlocking new opportunities and fostering innovation in Balochistan’s mineral sector. As Balochistan moves forward with these approved mergers, it embarks on a journey towards enhanced economic development and prosperity, with the mineral industry poised to play a pivotal role in driving sustainable growth and progress in the region.

Symmetry Group onboards new clients, aims for Rs50mn revenue in 2024 g

COMPANY SPECIALIZES IN TRANSFORMING BUSINESSES THROUGH DIGITAL SOLUTIONS PROFIT

SANEELA JAWAD

Symmetry Group Limited, a leading digital technology and experiences company listed on the Pakistan Stock Exchange (PSX), announced that they have onboarded several new clients for their digital services. These include prominent brands like English Biscuit Manufacturers (Gluco & Sooper Biscuits), JS Global Limited, and Nando’s Pakistan.

This expansion is expected to generate an additional Rs 20 million in revenue for the company within a year.

The company’s recent success builds upon its earlier achievements, marked by the acquisition of Hashoo Group (PC & Hotel One), Jaffer Consultancy, and Circles Life Asia Technology as clients. Symmetry Group anticipates generating a revenue of Rs 30 million in the coming 12 months. This growth trajectory underscores the company’s expertise in digital products and services, particularly in transforming marketing, sales, and other consumer-centric functions for organizations.

The company specializes in transforming businesses through digital solutions. They focus on elevating marketing, sales, and customer-centric functions by offering a range of digital products

and services. This includes areas like interactive marketing, mobile app development, e-commerce solutions, and data analytics.

Chairman Sarocsh Ahmed emphasized the company’s commitment to excellence and innovation, citing a remarkable 124% growth in export revenue. Despite facing initial challenges in commerce and Mobility sectors in 2023, Symmetry Group remains resilient, laying down foundational steps for future revenue contributions.

According to the Director’s Report for 2023, Symmetry Group achieved record-breaking revenue and profit growth amidst global economic uncertainty and challenges in Pakistan. The company reported a revenue increase of 26%, reaching Rs 459 million, with operating profit soaring by 76% to Rs 172 million. Net profit also witnessed a substantial rise, reaching Rs 159 million compared to Rs 71 million in 2022.

Analyzing the company’s performance over the past six years reveals an upward trajectory in revenue and net profit.

From Rs 164 million in revenue and Rs 15 million in net profit in 2018, Symmetry Group has steadily climbed to Rs 459 million in revenue and Rs 159 million in net profit in 2023.

Symmetry Group’s optimism about its future prospects, considering global trends in technology

and transformation markets. With the global technology and transformation market expected to grow from USD 588 billion in 2021 to USD 3,739 billion by 2030, Symmetry Group is poised for substantial growth. The company’s dedication to investing in startups and emerging technologies aligns with this vision, positioning it as an industry leader.

According to the company’s annual report, in Pakistan, the digital industry shows promising growth potential, fueled by initiatives such as the SIFC (Special Technology Zones Authority) by the government. The mobile ecosystem’s economic contribution reached USD 16.7 billion in 2018, equivalent to 5.4% of GDP, and is expected to reach 6.6% of GDP by the end of 2023. This growth is further accelerated by increasing mobile and internet penetration, with the government facilitating the private sector to boost IT and ITeS exports.

Symmetry Group Limited’s strategic expansion, steady financial growth, and commitment to innovation position it as a key player in driving digital transformation in Pakistan. With a strong focus on empowering organizations through digital solutions and expanding its global footprint, the company is primed for continued success in the evolving digital landscape.

Elections 2024: Independent candidate clinches PS-18 after re-polling GHOTKI

STAFF REPORT

Independent candidate Jam Mehtab Hussain Dahar has emerged victorious after re-polling at two polling stations of PS-18 Ghotki, defeating Pakistan People’s Party’s (PPP) candidate.

As per unofficial results, Jam Mehtab Hussain Dahar secured 1592 votes from the two polling stations while PPP’s Shahryar Khan Shar bagged 973 votes.

The Election Commission of Pakistan (ECP) ordered repolling after an unfortunate incident in the 8th February General Elections as a ballot box and other records were maliciously set on fire by some miscreants in the Returning Officer’s (RO) office.

Before the re-polling, independent candidate Jam Mehtab Hussain Dahar secured 56285 votes while PPP’s Shahryar Khan Shar got 54705 votes. After the repolling process, Jam Mehtab Hussain Dahar’s lead exceeded to 2199 votes. It is pertinent to mention here that Jam Mehtab Hussain Dahar is an incumbent senator of the PPP and is set to retire in March 2027. After being denied the party ticket, he decided to contest the poll as an independent candidate.

Meanwhile, the ECP has said the polling was held at polling station No.162 of PS-18 Ghotki peacefully.

Imran Khan buries politics of Nawaz, corrupt mafia for good: PTI spokesperson ISLAMABAD

STAFF REPORT

Pakistan Tehreek-e-Insaf (PTI) spokesperson stated that PTI Founding Chairman Imran Khan buried the politics of certified criminal Nawaz Sharif and corrupt mafia for good, who were dreaming to minus Khan from political arena.

PTI spokesperson said that the people thwarted all nefarious plots and schemes to impose the rejected clique under infamous London Plan through their power of votes.

He pointed that “Nawaz’s power hungry brother Show-baz Sharif and Calibri Queen Maryam Nawaz even betrayed him to secure coveted slots in the center and Punjab”.

PTI spokesperson went on to say that Imran Khan’s long and incessant struggle

made the nation politically so matured that they closed the chapter of the politics of the certified criminal Nawaz and crooked political mafia forever.

He recalled that the fugitive criminal, convicted by the courts, was brought into the political field under London Plan in total disregard of constitution and ethics to impose on the country under the auspices of the state once again.

PTI spokesman said that the person devoid of political vision, who always came to power with the help of behind-the-scenes compromises, faced a shameful defeat in the people’s court.

He made it clear that people rejected London Project and Nawaz Sharif bite the dust despite all the state facilitations to give him the rein of the country for the fourth time, forcing

the plotters to reconsider their decision.

He said that the person, who was dreaming to hold the slot of Prime Minister for the fourth time, was betrayed by his own family members for their own political mileage.

PTI spokesperson noted that on February 8, the people gave clear mandate to Imran Khan and PTI; hence the shameful power sharing attempts among people rejected groups should be sunned because it was an open contempt of the people’s mandate and would have very negative and serious consequences for the country and the economy.

He made it clear that the people would not accept and tolerate another experience of PDM-2 involving a criminal group violating the sanctity of their vote.

PTI spokesperson urged that the decision

of people should be respected so as to put the country on the path of economic and po-

Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk

litical stability under the visionary leadership of PTI Chairman-for-life Imran Khan.