The
needs to come to the country before anything else Imran alleged that institutions were compromised to ensure PML-N supremo Nawaz Sharif ’s ‘selection’, causing harm to courts and organisations including the National Accountability Bureau (NAB) in the process Imran contended that rigging occurred in favour of Nawaz during the elections after unfairly subjecting him to allegations Referring to the Rawalpindi commissioner backtracking from his earlier poll rigging revelations’, the ex-premier claimed that the former official was “picked up and tortured” “A Vigo came and picked him up Now his software has been updated he added ‘Pakistan PTI’s top priority’ In today s statement, PTI leader Barrister Zafar said that Pakistan will always remain a top priority for the party Zafar ’s statement came a day after Imran Khan announced from jail that he would write a letter to the IMF demanding it to halt the next loan to Pakistan unless there was a thorough probe into the alleged election rigging The party faced backlash over the statement s timing as the country is embroiled in a severe economic crisis, and the upcoming government is already eying a new IMF programme Experts believed that writing such a letter was a terrible idea as it would not have any value but would lead to burning political capital and creating more rifts between the PTI and powerful stakeholders
PPP nominates Murad
Ali Shah for Sindh
CM’s slot
PR OFIT N E W S D E S K
top official of the International Monetary Fund (IMF) has said that they are looking forward to working with Pakistan s new government on policies to ensure macroeconomic stability During a press briefing on Friday, Julie Kozack, Director of the Communications Department at the IMF was asked whether Pakistan was on track to secure the third tranche of the standby agreement She said that the IMF s Executive Board approved the first review of the Stand-By Arrangement (SBA) with Pakistan on January 11 2024 which brought the total disbursements under the StandBy Arrangement to $1 9 billion The SBA is supporting Pakistan s efforts to stabilise its economy and, with a strong focus on protecting the most vulnerable “During the period of the caretaker government Pakistan has maintained economic stability This has been achieved by maintaining a tight monetary policy stance to control inflation and continue building up foreign exchange reserves, the IMF official added We look forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens ” However Ms Kozack avoids commenting on whether the IMF would entertain any letter by Pakistan s former prime minister Imran Khan calling for an audit of the election irregularities I m not going to comment on ongoing political developments, she said These remarks come after a day when Imran Khan the jailed former prime minister directed his legal team to pen a letter to the IMF urging the global financial institution to demand an independent audit of the February 8 elections In par tnership with Profit S a t u r d a y, 2 4 F e b r u a r y, 2 0 2 4 I 1 3 S h a b a n , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 2 3 7 I 8 Pa g e s I La h o r e E d i t i o n ISLAMABAD A G E N C I E S Pakistan on Friday said that Israel’s occupation of Palestine is unlawful and that it must stop Addressing the International Court of Justice (ICJ) Law Minister Ahmed Irfan Aslam said that Pakistan has been led to the conclusion that Israel s occupation is unlawful and unlawfulness must have consequences For the first time since its establishment in 1948, Israel is currently being tried before the International Court of Justice the highest judicial body in the UN on charges of committing the crime of “genocide” against Palestinians in Gaza Criticising the Israeli settler policy Aslam said that through this policy Tel Aviv creates irreversible facts on the ground which make it difficult to bring an end to its prolonged
rights
Palestinian
amount to systematic racial discrimination
serious violations of international humanitarian law
human rights
A
occupation “Its policies and practices of occupation deny the
of the
people to self-determination and
and
and
he said urging the UN top court to take this seriously
He said that Israel s ongoing actions are against international law and seek to acquire Palestinian territory while killing and displacing its people
7
30
attacks on the besieged enclave of Gaza Israel has pounded the Gaza Strip since an Oct 7 cross-border attack by the Palestinian group Hamas which killed some 1,200 Israelis Besides injuring some 60,000 people, the Israeli war on Gaza has pushed 85% of the territory’s population into internal displacement amid acute shortages of food clean water and medicine while 60% of the enclave s infrastructure has been damaged or destroyed according to the UN Israel is accused of genocide at the International Court of Justice An interim ruling in January ordered Tel Aviv to stop genocidal acts and take measures to guarantee that humanitarian assistance is provided to civilians in Gaza Hostilities have continued unabated however and aid deliveries remain woefully insufficient to address the humanitarian catastrophe PR OFIT A H M A D A H M A D A N I The Cabinet Committee on Energy (CCoE) on Friday granted its approval to start construction on an 80-kilometer (KM) pipeline from the Pak-Iran border to Gwadar as part of the IP Gas Pipeline Project As per details a summary of the Petroleum Division regarding IP Gas Pipeline was taken up by the Cabinet Committee on Energy (CCoE) in its session of February 23, 2024 The CCoE approved the recommendations of the Ministerial Oversight Committee (MOC) for the IP Project constituted by the Prime Minister in September 2023 whereby the Committee recommended to start work on the 80 km segment of the pipeline inside Pakistan i e from Pakistan border up till Gwadar in the first phase The Project will be executed by Inter State Gas Systems (Pvt) Ltd and will be funded through Gas Infrastructure Development Cess All the concerned divisions gave a positive nod to move ahead with the project to ensure gas supplies to the people of Pakistan thereby addressing the increasing energy needs of the country According to petroleum division this will not only boost energy security of Pakistan but would enhance confidence of the local industry who would be ensured with the enhanced gas supplies This will also catalyze the economic activity in the province of Baluchistan and will contribute to the economic progress of Pakistan said petroleum division The Iran-Pakistan pipeline, also known as Peace Pipeline, emerged from a plan dating as far back as 1994 and had originally included India The $7 5 billion 1 700-mile project would bring gas from the South Pars Gas Fields through Baluchistan (in western Pakistan) into India Over the decades, however, the pipeline has faced multiple delays including India stepping back from the original plan in 2008 One of the reasons for the delay have been consistent worries surrounding international sanctions on Iran The problem is that hat if Pakistan does not start construction of the IP Gas Pipeline Project within the next three months it will have to face $ 18 billion worth penalty Back in August 2023 Iran refused to accept Pakistan s force majeure notice to halt construction of the multibillion-dollar Iran-Pakistan (IP) gas pipeline project and has instead granted two five-year extensions to meet the responsibilities of the IP Project Iran had previously given Pakistan a 180day deadline until September 2024 to start completion of the pipe-laying work Tehran warned Islamabad if its authorities do not accept the suggestion, Iran will move to the Parisbased International Arbitration for non-execution of the project and the Islamic Republic will seek an $18 billion penalty by lodging a complaint at the Paris-based institute Over the years Pakistan has postponed a decision to seek exemption from US sanctions while keeping in view the geopolitical situation in the region Foreign legal firms have opined that Pakistan will face US sanctions if it starts construction of Iran-Pakistan (IP) Gas Pipeline Project the Inter-Governmental Framework Declaration of the Iran Pakistan Gas Pipeline Project was signed by the President of Pakistan and Iran on 24th May 2009 for supply of gas of 750 Million Cubic Feet per Day (MMCFD) for 25 years from South Pars gas field of Iran and delivery at PakIran border, near Gwadar The project having a length of 1,150km within Iran and 781km within Pakistan was to be implemented by each country in their respective territories The first gas flow was to start from 1st January 2015 Iran has completed construction of over 900km within Iran, while the remaining segment of 250 is yet to be constructed by Iran Considering the challenges faced by Pakistan the Government of Iran has proposed to provide financing for the project as well as EPC contractor under the Government to Government Cooperation Agreement dated 1st December 2012 The cabinet approved the cooperation agreement on 30th January 2013 Subsequently the Iranian government unilaterally withdrew from the Government Cooperation Agreement on 17th March 2014 Pakistan therefore served the Force Majeure and/or Excusing Event Notice under the IPGSPA to National Iranian Oil Company (NIOC) on 29th March 2014 after seeking Prime Minister s approval Accordingly the project activities have been on hold since then The GoP has maintained engagement with Iran at two levels; Technical Committee level and Ministerial level So far, two meetings each at the Technical Committee level and Ministerial level have been held with Iran During these meetings Iran was informed about the steps being taken by Pakistan regarding the project implementation including its intent to file the Waiver Application and the prospective implications on the future course of action of the project if the Waiver Application is rejected While emphasising the urgent action by Pakistan Iran stated that further extension of time under the French Civil Code would be subject to substantial progress by Pakistan on the project within next three months else Iran would be constrained to refer the matter to international arbitration under the GSPA Both sides agreed to form a high-level committee to discuss all matters related to the project Secretary Petroleum has been nominated from the Pakistan side for the High-Level Committee g IRAN HAD PREVIOUSLY GIVEN PAKISTAN A 180-DAY DEADLINE UNTIL SEPTEMBER 2024 TO START COMPLETION OF PIPE-LAYING C O N T I N U E D O N PA G E 03 Barrister Zafar insists party backs engagement with fund as Imran pens letter to IMF ISLAMABAD S TA F F R E P O R T Before PTI founder Imran Khan revealed having penned a letter to the IMF on Friday asking it to make its next loan program conditional to Pakistan conducting an audit of the February 8 general elections, party leader Senator Barrister Ali Zafar clarified that the country should continue to engage with the IMF Senator Zafar said that the engagement with IMF should continue to “ensure financial discipline good governance and economic stability which is critical for the prosperity of the people of Pakistan However, shortly after Senator Zafar s statement, Imran told the media that he had written a letter to the IMF addressing allegations of election rigging In an unofficial conversation with media representatives at Adiala jail following the hearing of the £190 million case the PTI supremo stated that the letter raises concerns about obtaining loans in such circumstances, questioning who would be responsible for repaying the international monetary body in the current circumstances Expressing apprehension that this loan would exacerbate poverty the PTI founder maintained that investment needs to be attracted otherwise the loans will keep piling up Political stability
top UN court is currently hearing oral statements by states on South Africa’s case against Israel over its war on Palestine where the death toll since Oct
is rapidly approaching
000 since Tel Aviv launched
LAHORE S TA F F R E P O R T Pakistan People s Party (PPP) has nominated Murad Ali Shah for the Sindh chief minister slot as the party was set to form the next government in the province While addressing a press conference in Lahore on Friday following the meeting of the parliamentary committee of the PPP, Chairman Bilawal BhuttoZardari announced that Murad Ali Shah would be the party s candidate for Sindh chief minister The former foreign minister said We will request Murad to take the responsibility of this post again But this time round we have to beat our own record It should be mentioned here that Murad Ali Shah was first elected Sindh chief minister in 2016 After the 2018 general elections he was nominated for the coveted office by his party Bilawal Bhutto also announced that Naveed Anthony would be the candidate for Sindh Assembly deputy speaker He further said that Awais Shah would be the candidate for Sindh Assembly speaker In the Feb 8 general elections held on 130 general seats of the Sindh Assembly the PPP had secured 87 seats followed by the Muttahida Qaumi Movement-Pakistan that bagged 28 seats Grand Democratic Alliance and Jamaat-i-Islami two each and 11 independents backed by the Pakistan Tehreek-i-Insaf g TOP OFFICIAL DECLINES TO COMMENT ON IMRAN KHAN'S REQUEST FOR ELECTION AUDIT IMF SAYS LOOKING FORWARD TO WORKING WITH PAKISTAN’S NEW GOVT PROFIT: Pakistan intends to request a new loan of at least $6 billion from the International Monetary Fund (IMF) to assist the incoming government in repaying billions in debt due this year as reported by Bloomberg News on Thursday citing a Pakistani official The country aims to negotiate an Extended Fund Facility with the IMF, with talks expected to commence in March or April, the report added Although a default was avoided last summer with a short-term IMF bailout the program is set to expire in March requiring a new government to negotiate a long-term arrangement to maintain economic stability To comply with IMF demands, Pakistan implemented various measures including budget revisions a benchmark interest rate hike and increases in electricity and natural gas prices Neither the IMF nor the caretaker finance minister responded immediately to Reuters’ request for comment on the Bloomberg report F i t c h a r a t i n g s a g e n c y e m p h as i z e d t h a t P a k i s t a n s v u l n e r a b l e e xt e r n a l p o s i t i o n m a k e s s e c u r i n g financing from multilateral and bilateral partners a top priority for the incoming government Fitch stated on Monday “A new deal is key to the country s credit profile and we assume one will be achieved within a few months, but an extended negotiation or failure to secure it would increase external liquidity stress and raise the probability of default ” M O N I T O R I N G D E S K Pa k i s t a n t o s e e k $ 6 b l i f e l i n e f r o m I M F f o r d e b t r e p a y m e n t : r e p o r t CCoE approves work on 80km segment of IP Gas Pipeline inside Pakistan U n l a w f u l I s r a e l i o c c u p a t i o n o f Pa l e s t i n e m u s t h a v e c o n s e q u e n c e s , Pa k i s t a n t e l l s I C J LAHORE S TA F F R E P O R T Outgoing speaker Sibtain Khan on Friday administered oath to 313 newlyelected MPAs of the Punjab Assembly in the inaugural session Yesterday Punjab Governor Muhammad Balighur Rehman had summoned inaugural session of the Punjab Assembly for oath-taking of the newlyelected members to set the path for new government to take over the powers Speaker of Punjab Assembly Sibatin Khan administered the oath to the elected representatives marking their official induction into the legislative body PML-N s nominee for Punjab chief minister Maryam Nawaz, former federal minister Marriyum Aurangzeb and PTI leader Aamir Dogar were among those in attendance It should be mentioned that this is the first time Maryam has been elected as a lawmaker Meanwhile the schedule for the election of a new speaker and the deputy speaker of the house was also released According to the schedule the election for the speaker and the deputy speaker will be held on Saturday (tomorrow) through a secret balloting Strict security measures were put in place to avoid any untoward incident More than 500 policemen have been deployed around the Punjab Assembly building Furthermore, APCs, water canon vehicles, and Anti-Riots Dolphin Force are also deployed Speaking outside the Punjab Assembly building PML-N’s Ata Tarar said the people of Punjab gave a mandate to PML-N in the general elections held on February 8 He said after the allocation of reserve seats, the number of PML-N MPAs has reached 210 Tarar said a new era of good governance is about to begin under the leadership of Maryam Nawaz The PML-N has nominated Maryam for chief minister while the rival PTI has fielded Mian Aslam Iqbal for the slot However, Iqbal is unavailable as he was said to be in Khyber Pakhtunkhwa after getting bail from the Peshawar High Court According to the Feb 8 election results the PML-N secured 138 general seats in the Punjab Assembly while PTIbacked independents claimed 114 N e w P u n j a b M PA s s w o r n i n a t m a i d e n s e s s i o n a m i d p r o t e s t , d e l a y C O N T I N U E D O N PA G E 03
India using rape of women as weapon of war to suppress K ashmiris ’ struggle’
said that the suspension of the success notification for PML-N s MNAselect from Islamabad resulted from the continuous false actions of PTI’s unsuccessful candidates in Islamabad
According to the law he said election complaints are exclusively handled by the Election Tribunal, not the High Court Neither the High Court nor the Election Commission serve as trial courts for election-
related issues he added Dr Fazal Chaudhry said once tribunals are established all election complaints are directed to them; other courts do not proceed with such cases He said PTI leaders falsely claimed in the High Court that tribunals had not been set up He stated that the Election Commission of Pakistan (ECP) has issued a notification declaring the success of three PML-N MNAselect Dr Fazal Chaudhry noted that in 2018, more objections were raised compared to the 2024 election
Senator A Rehman Malik’s 2nd death anniversary marked
Satu day 24 Feb ua y 2024 | LAHORE 02 NEWS PR OFIT Monitoring Desk The State Bank of Pakistan (SBP) and the Arab Monetary Fund (AMF) are currently in the process of integrating their respective payment systems Buna and Raast to streamline cross-border remittances between Pakistan and the Arab region This development follows a memorandum of understanding (MoU) signed last year by the governor of the SBP and the chairman of the AMF, to establish a framework of cooperation between Buna a cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization (ARPCSO) and owned by AMF and Raast a Pakistani instant payment system for real-time settlement of small-value retail payments Technical talks are now underway to integrate the two systems and facilitate millions of Pakistanis living in the Gulf region by enabling them to send remittances in real-time at a lower cost The integration will also benefit businesses through instant safe and cost-effective cross-border payments and aims to strengthen economic, financial, and investment ties between Arab countries and Pakistan The deputy governor of the SBP Saleem Ullah said in a recent interview that these talks aim to finalise the technical requirements for the integration with both systems using the same vendor to potentially expedite the process The initiative is expected to significantly benefit the approximately five million Pakistanis living in the Gulf by reducing remittance costs and transaction times, thereby encouraging the use of legal remittance channels Additionally it promises to foster economic and financial ties between Arab countries and Pakistan potentially increasing export opportunities for Pakistani goods and services The integration also aims to enhance the regulation of remittances through the SBP possibly allowing for the use of these funds to secure financing from Gulf markets SBP, ARAB MONETARY FUND TO INTEGRATE CROSS-BORDER REMITTANCE PL ATFORMS PR OFIT N e w S D e S k Pakistan s tea imports witnessed an increase of 7 58% in the first seven months (July-Jan) of the current fiscal year FY 2023-24 as compared to the imports of the corresponding period of last year According to the data released by the Pakistan Bureau of Statistics (PBS) over 161 823 metric tons of tea valued at $391 408 million were imported from July to January FY24 as compared to the imports of 145 700 metric tons costing $368 820 million of the same period of last fiscal year On a monthly basis tea imports increased by 22 13% as 22 072 metric tons of tea valued at $54 985 million were imported during January 2024 as compared to the imports of 17,622 metric tons worth $45 022 million in the corresponding month of last year However the imports of edible oil including soybean and palm into the country during the first seven months went down by 49 85% YoY and 34 14% MoM respectively, it added Over 91,950 metric tons of soyabean oil valued at $99 990 million was imported compared to the imports of 136 870 metric tons costing $199 386 million in the same period last year Whereas 1 735 million tons of palm oil worth $1 611 billion was imported as compared to the imports of 1 927 metric tons valued at $2 446 billion during the same period last year Meanwhile the sugar imports into the country also decreased by 42 75% as about 2 260 metric tons of sugar valued at $2 10 million were imported as compared to the imports of 4,332 metric tons worth $3 67 million in the same period of last year I t i s w o r t h m e n t i o n i n g h e r e t h a t d u r i n g t h e p e r i o d u n d e r r e v i e w f o o d g r o u p e x p o r t s f r o m t h e c o u n t r y g r e w b y 5 7 6 6 % a s d i ff e r e n t f o o d commodities valued at $4 267 billion w e r e e x p o r t e d a s c o m p a r e d t o t h e exports of $2 706 million in the same period of last year O n t h e o t h e r h a n d f o o d g r o u p imports into the country during the first seven months of the current financial y e a r d e c r e a s e d b y 2 1 0 9 % a s f o o d i m p o r t s c a m e d o w n f r o m $ 5 9 8 3 billion in the first seven months of the l a s t f i n a n c i a l y e a r t o $ 4 7 2 1 b i l l i o n during the same period of the current financial year Pakistan impor ts tea wor th $391m in 7MFY24 ISLAMABAD S ta f f R e p o R t The second death anniversary of former Interior Minister and senior leader of the Pakistan People’s Party (PPP) Senator Abdul Rehman Malik was commemorated with utmost devotion and respect at Rehman Malik House Islamabad on Friday Late Senator A Rehman Malik was a seasoned statesman and retired senior bureaucrat who passed away on February 23 2022 He earned his Master ’s degree in Statistics from the University of Karachi in 1973 and was awarded an honorary PhD from the same institution in 2012 Throughout his career he held various portfolios, including the position of Federal Interior Minister of Pakistan from 2008 to 2013 He was a close aide of Prime Minister of Pakistan Shaheed Mohtarma Benazir Bhutto and remained affiliated with the PPP until his demise He played a crucial role in counterterrorism efforts, legislation, and the country s political affairs Senator Malik was honored with the Sitara-e-Shujaat (Gallantry) and the Nishan-e-Imtiaz for his exceptional and unparalleled services to the nation During the commemoration participants recited the Holy Quran and Naat, offering prayers for the departed soul They also expressed their heartfelt condolences and paid tribute to the late Abdul Rehman Malik for his unparalleled contributions to the country and its people On this occasion Ali Rehman Malik stated that he and his brother Umar Rehman Malik were committed to move forward the mission of their late father, which was serving the country, its people and especially the vulnerable sections of society He emphasized that his father s exemplary life serves as a role model for him Umar Rehman Malik expressed that his father s absence was deeply felt with each passing day, but in his legacy of service to Pakistan and its people they find solace and strength He emphasized that it will forever remain a beacon of inspiration guiding them through every moment They have requested fellow Pakistanis to recite Surah-e-Fateha for their beloved father and pray to Almighty Allah for his departed soul
S ta f f R e p o R t Pakistan Muslim League Nawaz’s (PML-N) MNA-elect Dr Tariq Fazal Chaudhry on Friday said that the results of three Islamabad constituencies were intentionally made controversial by rival Pakistan Tehreek-e-Insaf (PTI) candidates Talking to media outside the Election Commission of Pakistan (ECP) he said the three victorious MNAs-elect from PML-N possess Form 45 and are prepared to furnish these forms at any appropriate forum Dr Tariq Fazal Chaudhry
ISLAMABAD
P M L- N a c c u s e s P T I o f m a ki n g I s l a m a b a d e l e c t i o n s re s u l t s c o n t rove r s i a l
SRINAGAR S ta f f R e p o R t All Parties Hurriyat Conference leaders in Indian illegally occupied Jammu and Kashmir have expressed deep regret that despite the passage of over three decades, victims of Kunan-Poshpura mass rape have not been provided justice According to Kashmir Media Service, Indian troops had gang-raped around 100 women of all ages from eight to eighty on the night of February 23 in 1991 during a siege and search operation in Kunan-Poshpora area of Kupwara district APHC leader Muhammad Yousaf Naqash in a statement in Srinagar said the Kunan-Poshpora incident serves as a vivid example of India s unhesitant actions He added that from the outset, India’s policymakers and implementers had employed every inhumane measure as a tool of war aiming to convey to Kashmiris that India could disrespect their self-worth honour and values through any form of aggression Hurriyat leaders Fayaz Hussain Jafari and Syed Sibte Shabbir Qummi in their separate statements in Srinagar said India is using the rape of women as a weapon of war to suppress the Kashmiris’ struggle for
long time has passed but none
the
Indian troopers have been punished
many of the victimized
world without justice
injects Rs7 76bn into market through OMOs PR OFIT y N e w S D e S k The State Bank of Pakistan (SBP) conducted two types of Open Market Operations (OMOs) on Wednesday injecting a total of Rs776 billion into the market to ease liquidity conditions The central bank offered Rs564 65 billion through reverse repo OMOs, of which Rs481 5 billion were accepted at rates ranging from 22 09% to 22 15% The reverse repo OMOs were for 7-day and 28-day tenors The SBP also offered Rs333 5 billion through Shariah-compliant Modarabahbased OMOs of which Rs294 5 billion were accepted at rates ranging from 22 07% to 22 11% The Shariah-compliant OMOs were also for 7-day and 28-day tenors g I m p o r t s i n c r e a s e b y 2 2 1 3 % Yo Y i n J a n u a r y 2 0 2 4 ISLAMABAD S ta f f R e p o R t President Dr Arif Alvi on Friday said the Kartarpur Corridor was a symbol of peace and Pakistan always welcomed Sikh Yatrees to visit their sacred places extending them all possible facilities During his visit to Kartarpur Corridor in Narowal the president said that Pakistan through the corridor had sent a message to the world, expressing its desire for peace Dr Arif Alvi said such more steps of inter-religion harmony would promote peace and stability in the region Sikhism has always taught peace and unity bringing people together , President Alvi said adding that Pakistan s initiatives for the convenience of Sikh pilgrims were commendable On the occasion Chief Executive Officer of the Project Management Unit briefed the president on the measures taken to facilitate Sikh pilgrims in Kartarpur Sahib P r e s i d e n t A l v i w a s i n f o r m e d a b o u t t h e S i k h r e l i g i o n a n d t h e h i s t o r y o f K a r t a r p u r S a h i b Later, he visited various places in Kartarpur Sahib and appreciated the arrangements made for pilgrims The president also visited the museum and anchorage (Langar Khana) K ar tarpur Corridor symbol of peace as Pakistan always welcome S ikh Yatrees: President g T h i s w i l l e n a b l e m i l l i o n s o f P a k i s t a n i s l i v i n g i n G u l f t o s e n d r e m i t t a n c e s i n r e a l - t i m e a t a l o w e r c o s t Bid to smuggle 592gram heroin to Dubai foiled FAISALABAD S ta f f R e p o R t The Airport Security Force (ASF) foiled a bid to smuggle heroin worth millions of rupees to Dubai and arrested drug peddler at Faisalabad Airport on Friday According to details, the ASF searched baggage of a suspected passenger Muhammad Irshad leaving for Dubai through private airline flight at Faisalabad Airport During search 592 gram heroin concealed in aluminum rods placed at bottom of the bag The ASF seized the recovered drug valuing millions of rupees in international market, offloaded and arrested drug pusher Muhammad Irshad The detainee along with recovered heroin was later handed over to Anti Narcotics Force (ANF) for further investigations ISLAMABAD S ta f f R e p o R t Newly elected Member National Assembly (MNA) of Pakistan Muslim League-Nawaz (PML-N) and former Chairperson, NA Standing Committee on Finance and Revenue Qaiser Ahmed Sheikh has said that the incoming government would focus on promoting ease of doing business to facilitate the better growth of business and investment activities in the country Talking to the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Friday he said that the new government would make business and economic policies in consultation with the business community to promote a conducive business environment and support them in business promotion Qaiser Ahmed Sheikh said that the new government would try to bring further reforms in FBR to broaden the tax net and improve tax culture He said that addressing the key issues of the business community would be a key focus of the new government to enhance its role in the economic development of the country The PML-N’s MNA elect assured that he would cooperate with the business community in addressing their concerns and facilitating them in business Incoming govt to foc us on promotion of ease of doing business: Q aiser Ahmed Journalists pillar of democracy, freedom of expression: Solangi ISLAMABAD S ta f f R e p o R t Caretaker Federal Minister for Information Broadcasting and Parliamentary Affairs Murtaza Solangi said on Friday that journalists were the main pillar of democracy and freedom of expression in the country The minister made these remarks during his visit to the Press Gallery of the Parliament House He also held one-on-one meetings with the journalists in the press gallery The minister said journalists were a mirror for the society who inform the public about the facts Solangi said the caretaker government had taken steps to promote freedom of expression in the country, adding the caretaker government had fulfilled its responsibilities under the constitution and law by holding free fair and transparent elections in the country The journalists in the press gallery thanked Murtaza Solangi for visiting the press gallery The journalists also appreciated Murtaza Solangi s role as Federal Information Minister during the caretaker government
the right to self-determination and the tragic incident of Kanan-Pushpura is its clear example They said a
of
involved
till date and
women have left the
SBP
However, she stated that the polls manipulators converted PTI s backed candidates’ landslide victory into defeat fraudulently because they were even not allowed to enter into RO’s office Seemabia went on to say that that they had all documented proof of poll robbery and all political parties candidates including TLP were ready to share rigging evidences with PTI
She noted that scale of polls robbery could be judged from the fact that they even found Form-45 in the trash adding that PTI leader recalled that the state unleashed a wave of fascism and barbarity as even they did not spare the journalists to silence the sane dissenting voices
However she lamented that senior anchorperson Imran Riaz was detained again because even people of his own community did not raise voice against his arrest due to possible consequences
She said that Pakistan has been converted into a banana republic as there was no regard for law and constitution in the country adding that they had been facing the worst state fascism for the past nine months aimed at forcing them to leave PTI Chairmanfor-life and PTI However, Seemabia vowed that all these brutal tactics would not work and even proved counterproductive which were evident from February 8 polls as the nation roared back more strongly because they were of the firm belief that Imran Khan was the only true and genuine leader who could wade the country
key initiatives in annual repor ts 2022-23
T h e r e p r e s e n t a t i v e s f r o m v a r i o u s I n t e r n a t i o n a l D e v e l o p m e n t P a r t n e
New Punjab MPA s sworn in at maiden session amid protest, delay
the papers for the slot of the speaker will be done at 5:10pm while that of the deputy speaker s slot will be done at 5:20pm After the MPAs-elect administered oath, PML-N’s Malik Ahmad Khan and Malik Zaheer Iqbal Channer submitted their nomination papers for the slot of Punjab Assembly speaker and deputy speaker respectively Meanwhile PTI-backed Ahmad Khan Bhachar and Muhammad Moeenuddin Riaz Qureshi who are now members of the Sunni Ittehad Council submitted their papers for the speaker and deputy speaker positions PML-N PTI-BACKED
CANDIDATES CHANT SLOGANS IN FACE-OFF
Earlier, PTI-backed candidates elected to the Punjab Assembly chanted slogans in favour of their party and expremier Imran Khan as they gathered outside the assembly
According to video footage the newly-elected lawmakers, who recently joined the Sunni Ittehad Council as per the PTI’s directions, chanted “Imran Khan, Imran Khan” as they reacted to chants from their political rivals in the PML-N The PTI-supported lawmakers could be hearing chanting: Who will save Pakistan? Imran Khan Imran Khan
‘CONCERNS OVER UNEQUAL
atmosphere There is disturbance because of you Please do not do this, he said And I am saying this personally that may God also give you courage to listen to each other patiently ” Sibtain added The speaker congratulated all MPAs on assuming their new role and wished
Upon his arrival at the Punjab Assembly, Speaker Sabtain Khan voiced
He further outlined the day s agenda noting that proceedings would solely focus on the oath-taking of newly elected members Khan indicated readiness to proceed with the election of the Speaker and Deputy Speaker pending decisions from the Election Commission Additionally arrangements for seats allocated to women and
held under
The secretary further said that the
The scrutiny of
TREATMENT IN HOUSE’
After outgoing Punjab Assembly Speaker Sibtain Khan administered oath to the newly-elected lawmakers he urged those in the gallery to not spoil the
PDMA issues aler t to admin for rains, strong winds, snowfall in Upper KP distric ts
a n d w h e n r e t u r n e d f o u n d b o d y o f h e r 1 3 - y e a r- o l d d a u g h t e r h a n g i n g w i t h c e i l i n g T h e b o d y w a s s h i f t e d t o h o s p i t a l w h e r e p o s t m o r t e m r e p o r t p r o v e d t h a t t h e g i r l w a s s t r a n g l e d t o d e a t h a f t e r s e x u a l a b u s e T h e b o d y w a s h a n d e d o v e r t o h e i r s a f t e r l e g a l f o r m a l i t i e s a n d p o l i c e a f t e r r e g i s t e r i n g a c a s e a g a i n s t u n i d e n t i f i e d m u r d e r s t a r t e d i n v e s t i g a t i o n s M e a n w h i l e t h r e e i n c l u d i n g w e i g h t l i f t i n g a t h l e t e s w e r e i n j u r e d w h e n l i f t o f a h o t e l f e l l d u e t o o v e r l o a d h e r e , r e s c u e s o u r c e s s a i d o n F r i d a y A c c o r d i n g t o d e t a i l s , o v e r l o a d l e d t o f a l l i n g o f l i f t o f a h o t e l i n S a d d a r a r e a o f K a r a c h i Tw o w e i g h t l i f t i n g a t h l e t e s a n d a s e c r e t a r y w e r e i n j u r e d i n t h e i n c i d e n t a n d h o s p i t a l i z e d T h e i n j u r e d a t h l e t e s a n d s e c r e t a r y w e r e o n v i s i t t o K a r a c h i t o p a r t i c i p a t e i n S i n d h G a m
Shab-e-Baraat: Public holiday announced in educational institutions of Sindh
n F r i d a y a n n o u n c e d p u b l i c h o l i d a y i n a l l e d u c a t i o n a l i n s t i t u t i o n s o f t h e p r o v i n c e o n M o n d a y F e b r u a r y 2 6 o n t h e o c c a s i o n o f S h a b - e - B a r a a t A c c o r d i n g t o d e c i s i o n t a k e n b y t h e S t e e r i n g C o m m i t t e e o f S i n d h E d u c a t i o n D e p a r t m e n t , a l l t h e p u b l i c a n d p r i v a t e e d u c a t i o n a l i n s t i t u t i o n s w i l l r e m a i n c l o s e d o n F e b r u a r y 2 6 o n a c c o u n t o f S h a b - eB a r a a t ( 1 5 t h S h a b a n 1 4 4 5 ) T h e p r o v i n c i a l e d u c a t i o n d e p a r t m e n t h a s i s s u e d a n o ff i c i a l n o t i f i c a t i o n i n t h i s r e g a r d M u s l i m s i n P a k i s t a n a n d a r o u n d t h e w o r l d o b s e r v e S h a b - e - B a r a t e v e r y y e a r T h e n i g h t i s b e l i e v e d a s T h e N i g h t o f F o r t u n e a n d F o rg i v e n e s s w h i c h c o m e s i n t h e r u nu p t o t h e s t a r t o f t h e m o n t h o f R a m a d a n
n g a g e w i t h P a k i s t a n , t h e y s h o u l d i n s i s t o n c o n d i t i o n s f o r a n i n d e p e n d e n t a u d i t o f t h e p o l l s ” Z a f a r m e n t i o n e d t h a t t h e I M F t h e E u r o p e a n U n i o n a n d o t h e r g l o b a l o rg a n i s a t i o n s h a v e a c h a r t e r s t i p u l a t i n g t h a t g o o d g o v e r n a n c e i s r e q u i r e d f o r o p e r a t i n g i n t h e c o u n t r y o r p r o v i d i n g a l o a n I n a r e l a t e d d e v e l o p m e n t , B l o o m b e rg r e p o r t e d t h a t P a k i s t a n i n t e n d s t o r e q u e s t a n e w l o a n o f a t l e a s t $ 6 b i l l i o n f r o m t h e I n t e r n a t i o n a l M o n e t a r y F u n d ( I M F ) t o a s s i s t t h e i n c o m i n g g o v e r n m e n t i n r e p a y i n g b i l l i o n s i n d e b t d u e t h i s y e a r P a k i s t a n n a r r o w l y e s c a p e d f i n a n c i a l d e f a u l t i n 2 0 2 3 w i t h a s h o r t - t e r m b a i l o u t f r o m t h e I M F a n d f a c e s t h e e x p i r a t i o n o f t h i s p r o g r a m i n M a r c h 2 0 2 4 T h e u p c o m i n g g o v e r n m e n t w i l l b e t a s k e d w i t h s e c u r i n g a l o n g - t e r m d e a l t o e n s u r e t h e s t a b i l i t y o f t h e n a t i o n ’s $ 3 5 0 b i l l i o n e c o n o m y T h e c o u n t r y a i m s t o n e g o t i a t e a n E x t e n d e d F u n d F a c i l i t y w i t h t h e I M F w i t h t a l k s e x p e c t e d t o c o m m e n c e i n M a r c h o r A p r i l t h e B l o o m b e rg r e p o r t a d d e d
PESHAWAR S ta f f R e p o R t Another series of rains strong winds and snowfall in upper districts of Khyber Pakhtunkhwa is likely to start from February 25, an official of the Meteorological Department said here Friday In this connection Provincial Disasters Management Authority (PDMA) has issued a message to all district administrations to be alert In view of the rains and snowfall, the district administration has been instructed to take precautionary measures DG PDMA Muhammad Qaiser Khan said here Landslides in upper districts due to snowfall and rains and directives have been issued to district administration to ensure availability of small and heavy machinery, DG PDMA told media men He said in the event of a storm, people should stay away from power lines, dilapidated buildings and structures sign boards and billboards Tourists and local population in sensitive upper areas are instructed to be aware of weather conditions and take precautionary measures he added He further said, in sensitive districts, messages to the district administration should be conveyed to the local population in local languages In any emergency situation all concerned organizations should be alert in the maintenance of road links and in case of road closure alternative routes should be provided for traffic he directed the concerned department Passengers should be warned in advance on provincial and national highways in sensitive areas He said, during this time, ensure the availability of emergency services personnel and tourists should be informed about the weather situation He said rains and snowfall are likely to continue intermittently till February 27 while tourists should take special precautions while traveling to these areas ISLAMABAD S ta f f R e p o R t P AKISTAN Tehreek-e-Insaf (PTI) senior leader and independent candidate for NA57 Rawalpindi Seemabia Tahir made it clear that they would knock at every door and exhaust all options to get the public stolen mandate back because people of the country spoke loudly and clearly for their beloved incarcerated leader Imran Khan through their power of votes despite all state coercive measures and brutal tactics Addressing a press conference here on Friday along with Tehreek-e-Labbaik Pakistan (TLP) candidate for NA-75 Chaudhry Rizwan
lawyer, she said that they would not rest until get the stolen mandate back because people broke the idols of fear and came out in large number to vote for their leader Imran Khan on February 8 2024 PTI leader pointed out that the state used all fascist and coercive tactics to deny PTI of field to contest elections but even then the nation showed their mettle and courage
came out in large number to foil all their nefarious plans and gave thumbing victory to PTI s backed independent candidates despite all odds
Younas and her
and
through the crisis situation She said that the commissioner Rawalpindi exposed the mega poll robbery scheme through a bombshell press conference; however, he was instantly declared insane and later taken to undisclosed location to coerce him to get a statement of their choice but she added that the nation was well-aware of all these tactics PTI leader noted that PTI rendered more sacrifices as compared to Pakistan
during the past nine months because they were now facing worst situation than the people of the occupied Kashmir Seemabia urged that people should come out in large number and raise their voice against this mega theft of public mandate in order to get their stolen mandate back because no power can confront the masses Speaking on the occasion Ch Rizwan said that allegations of rigging were leveled in the past elections; however rigging was done in a massive and unimaginable scale this time around He said that it was a mega daylight heist as ironically those were declared victorious who were even not even in the competition adding that Pakistan Muslim League-Nawaz s (PML-N) candidate Daniyal Chaudhry was even not in third position but announced triumphant fraudulently TLP leader vowed that they would sand by Seemabia because she was actual winner from the constituency as per the form 45 and his party would provide all documented proof in this regard 03 NEWS Sat rday 24 Febr ary 2024 LAHORE
I L L K N O C K O N E V E R Y D O O R T O G ET
T O L E N M A N D AT E B A C K : S E E M A B I A
Movement
W
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KARACHI S ta f f R e p o R t S i n d h g o v e r n m e n t o
CONTINUED FROM PAGE 01 Of the 23 other independent candidates not supported by the PTI 20 have joined the PML-N taking its tally to 158 while one has joined the PPP which already bagged 10 seats The PML-Q clinched eight seats, while one seat each went to the Istehkam-i-Pakistan Party, Tehreek-iLabbaik Pakistan and Pakistan Muslim League-Zia
the notified reserved seats the PML-N has secured 36 seats for women and five seats for minorities to take its total number of MPAs to 199, comfortably above the required simple majority of 186 members Meanwhile the PPP has three reserved seats for women two have gone to the PML-Q and the IPP has just one seat Speaker, Deputy Speaker Elections The elections for the Punjab Assembly speaker and deputy speaker will be held via a secret ballot in a session of the assembly tomorrow (Saturday)
announcement was made by the PA speaker s secretary after the newlyelected lawmakers took oath for their new role He said that the elections would be
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the assembly Addressing the media Khan stated A level playing field is being provided
some while others face obstacles
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for all elected representatives and highlighted tightened security measures
ensure equitable opportunities within the assembly
minorities are pending confirmation The Speaker affirmed that today s session would be limited to the swearingin ceremony, with no further legislative action planned PTI-backed MPA-elect Khalid Dogar calls for Imran s release The PTI has shared a photo of Khalid Nisar Dogar its party-backed MPA-elect from PP-231 holding a banner outside the Punjab Assembly demanding the release from jail of party founder Imran Khan Four-member panel formed to chair proceedings A four-member panel of chairpersons has been formed who are authorised in their nomination order to chair proceedings of the Punjab Assembly in the absence of speaker and deputy speaker The panel announced by the assembly speaker s secretary in the following order comprises: Malik Muhammad Ahmad Khan PP-179; Raheela Naeem W304; Syed Ali Haider Gilani PP-213; Saima Kanwal PP-260 Newly-elected Sindh MPAs to take oath today Sindh Governor Kamran Khan Tessori has convened Assembly session tomorrow (Saturday) at Sindh Assembly Building during which newly elected Members of the Provincial Assembly will take oath The outgoing Speaker Sindh Assembly Agha Siraj Khan Durrani will preside the session and take oath from the elected MPAs After taking oath by the newly elected members of the provincial legislature, schedule for election of the Speaker and Deputy Speaker will be announced Meanwhile Pakistan People’s Party has already nominated Sayed Murad Ali Shah for the slot of the Chief Minister Sindh
Teenage girl raped, strangled to death KARACHI S ta f f R e p o R t A t e e n a g e g i r l w a s a l l e g e d r a p e d a n d s t r a n g l e d t o d e a t h b y h a n g i n g h e r i n B i l a l C o l o n y o f K o r a n g i , K a r a c h i p o l i c e s a i d A c c o r d i n g t o d e t a i l s m o t h e r o f t h e d e c e a s e d w e n t t o m a r k e t t o p u r c h a s e v e g e t a b l e
e s ISLAMABAD S ta f f R e p o R t The Benazir Income Support Programme (BISP) has highlighted the progress achievements in key initiatives such as the National Socio-Economic Registry BISP Taleemi Wazaif, and BISP Nashonuma in its Annual Reports for the fiscal year 2022-23, launched on Friday Secretary of BISP, Amer Ali Ahmed speaking on the occasion expressed his gratitude to the officials for their continued support and collaboration He emphasized BISP s commitment to transparency and its primary focus on providing additional support to the most deserving families across the country, said a news release The Secretary BISP informed the development partners that the financial support to 9 3 Million households has been increased to Rs 10500 quarterly Highlighting the significance of transparency, Amer Ali Ahmed underscored the authenticity and reliability of BISP’s database attributing it to the program’s success He also announced the expansion of payment mechanism through collaboration from two to six banks aimed at ensuring efficient utilization of resources with an estimated saving of Rs 2 billion to be redirected towards core initiatives Moreover, Amer Ali Ahmed outlined BISP’s plans, particularly the expansion of Mobile Registration Vehicles with 25 vans already deployed in remote areas of Sindh and Balochistan He said these mobile vans will serve as distribution platforms facilitating beneficiaries in receiving payments directly, specifically
remote
areas Earlier, DG NSER Naveed Akbar delivered
comprehensive presentation on the annual progress of key initiatives, providing insights into their impact and effectiveness
r s i n c l u d i n g t h e Wo r l d B a n k A s i a n D e v e l o p m e n t B a n k Wo r l d H e a l t h O rg a n i z a t i o n U N I C E F I n t e r n a t i o n a l L a b o u r O rg a n i z a t i o n , U N F PA , G I Z , U N H C R , a n d I O M , acknowledged the transition of BISP from static to dynamic registry ensuring transparency in selection, e x p a n s i o n i n i t s c a s h t r a n s f e r a n d c o n d i t i o n a l c a s h t r a n s f e r i n i t i a t i v e s i n c l u d i n g K a f a a l a t Ta l e e m i Wazaif and Nashonuma program They assured collaboration and support to BISP in the future as well a
IMF says looking
ward
Pakistan’s new gov t CONTINUED FROM PAGE 01 K h a n s l a w y e r, A l i Z a f a r, t o l d r e p o r t e r s , I n t h e l e t t e r f r o m I m r a n K h a n , w e c l e a r l y s t a t e t h a t i f t h e I M F w a n t s t o e
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PTI Chairman Imran Khan s decision to appeal to the IMF to make an electoral audit a condition of releasing the remaining tranche of its ongoing programme, or of agreeing to w new programme reflects both a sort of desperation to appeal for help wherever possible as well as a tacit acknowledgement that it is the key lever to press This is not the first time the IMF has been involved, though this will indeed be the first time someone without a government position will approach the IMF It will also be the first time the IMF will be asked to intervene in a member s politics The PTI argument, as relayed by Senator Ali Zafar after meeting Mr Khan in Adiala Jail, was that the IMF wanted good governance including democracy when lending to members This seems a little ambitious because the IMF has been perfectly happy entering programmes with military rulers, not just in Pakistan, but anywhere The IMF, like the UN, but not the World Bank, has had to accommodate the USSR and its bloc during the Cold War and thus has no problems dealing with what Western nations would consider undemocratic
This is not the first time the PTI has tried to queer the government’s pitch with the IMF The episode, where Shaukat Tarin ousted as PM’s Finance Adviser tried to get the Finance Ministers of KP and Punjab to write to the IMF saying they would not be part of a deal with the IMF, has not entirely faded from the public memory Then there is the impression that the caretaker government did not go beyond the February 8 election date because of IMF Clearly the PTI believes this is what happened The PTI s own record in office is ambiguous In the 2018 election campaign, Mr Khan repeatedly promised not to have recourse to the IMF but when he came to office did exactly that However he did not precisely follow all the terms of his government s agreement with it
There is an inescapable element of washing one s dirty linen in public Mr Khan seems to be aware that one of the plus-points of the PDM government was its willingness to take the most unpopular measures to keep the IMF happy, because the IMF s good graces meant continued access to the world s money markets, and avoiding a default with all its negative and painful consequences Mr Khan’s message will almost surely not be honoured but the pressure it will put on the government will be a weapon in the hands of the IMF
Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late) Founding Editor
M A Niazi Editor Pakistan Today Babar Nizami Editor Profit
TC l i m a t e c h a n g e a n d h u m a n h e a l t h
pre-existing health conditions
Perspectives and Prospects
Dr
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E OCEAN ACIDIFICATION: Increased CO2 levels lead to higher concentrations of carbonic acid in the oceans affecting marine ecosystems and organisms, particularly those with calcium carbonate shells or skeletons In today’s context, the issue requires global cooperation and concerted efforts to reduce greenhouse gas emissions transition to renewable energy sources and adapt to unavoidable impacts Further it requires a multi-faceted approach including mitigating climate change itself, adapting health systems to better respond to climate-related health risks, im-
shift to digital campaigning saw further challenges with internet and mobile services being disrupted or throttled This not only targeted PTI but also impacted businesses trade and the broader populace exacerbating the already compromised reputation of the nation
Some may argue that involving an international entity like the IMF could introduce transparency and impartiality into the audit process addressing the trust deficit with domestic institutions This approach might not only ensure fairer electoral practices but also spotlight alleged irregularities on a global stage fostering international advocacy for democratic integrity in Pakistan Conversely, this strategy might displease even some PTI supporters who favor internal resolution of issues fearing it could fragment the party s unity They contend that despite the flaws of national institutions struggles should remain within the constitutional and legal boundaries, advocating for a domestic, democratic push for reform without foreign intervention or influence on sovereign matters
Critics argue that while such actions might not directly harm the establishment judiciary or government officials who would continue to receive their salaries the real brunt of economic fallout from a halted IMF negotiation, prompted by PTI s request, would be borne by the common people This could exacerbate unemployment and inflation, already at record highs, pushing millions more into poverty
They suggest learning from past experiences like the repercussions of alleging foreign involvement in regime change which cost PTI its government and led to legal troubles for its members Instead of risking further isolation and legal action by engaging with international bodies like the IMF in domestic political disputes they advocate for a more cautious approach that avoids giving the government and establishment reasons to target PTI and its leadership
Critics might argue that soliciting foreign intervention in political and electoral issues could be perceived as undermining national sovereignty, potentially fueling nationalist and anti-
A RISING TEMPERATURES: One of the most direct features of global climate change is the increase in global average surface temperatures This warming is evident in the long-term trend over the past century with recent decades being the warmest in the historical record
B MELTING ICE AND GLACIERS: Warming temperatures lead to the melting of ice caps, glaciers, and permafrost This melting contributes to rising sea levels and can also release methane, a potent greenhouse gas from thawing permafrost
C RISING SEA LEVELS: The expansion of seawater as it warms combined with the addition of water from melting ice sheets and glaciers contributes to rising sea levels This can lead to coastal erosion, increased flooding, and the loss of coastal habitats
D CHANGING PRECIPITATION PATTERNS: Climate change affects precipitation patterns leading to changes in the frequency intensity and duration of rainfall events Some regions experience increased rainfall and flooding while others face more severe droughts and water scarcity
E ECOSYSTEM AND BIODIVERSITY
CHANGES: Climate change affects ecosystems and biodiversity, altering habitats, and putting stress on plant and animal species This can lead to shifts in species distributions changes in migration patterns and the disruption of ecological relationships
F IMPACT ON AGRICULTURE: Changes in temperature and precipitation patterns, along with increased frequency of extreme weather events, can affect agricultural productivity This can lead to challenges in food security changes in crop yields and the need for adjustments in farming practices
G SOCIOECONOMIC IMPACTS: The effects of climate change have significant socioeconomic implications, including impacts on economies, infrastructure, and human settlements, particularly in vulnerable communities Climate change has profound and diverse impacts on human health affecting individuals and communities in several ways These impacts can be direct resulting from extreme weather events and changes in environmental conditions, or indirect, through disruptions to social, economic, and environmental determinants of health:
A HEAT-RELATED ILLNESSES AND MORTALITY: Increasing temperatures and more frequent and intense heatwaves contribute to heat stress heatstroke and dehydration These conditions can exacerbate cardiovascular and respiratory diseases, leading to increased morbidity and mortality, especially among vulnerable populations such as the elderly, children, and those with
B AIR QUALITY AND RESPIRATORY DISEASES: Climate change can worsen air quality by increasing the concentration of pollutants and allergens, such as ground-level ozone and particulate matter from wildfires and dust storms Poor air quality is linked to respiratory conditions including asthma allergic diseases and other chronic respiratory disorders
C VECTOR-BORNE DISEASES: Changes in temperature, precipitation, and humidity affect the distribution, seasonality, and abundance of disease vectors like mosquitoes and ticks This can alter the geographic range and transmission patterns of vector-borne diseases including malaria dengue fever Zika virus Lyme disease and West Nile virus potentially exposing new populations to these health threats
D WATER-RELATED ILLNESSES: Climate change impacts the availability and quality of water, leading to increased risks of waterborne diseases especially in areas with inadequate water treatment and sanitation facilities Flooding and heavy rainfall can contaminate water supplies with pathogens while droughts can concentrate pollutants in water sources, leading to diseases such as cholera, giardiasis, and cryptosporidiosis
E FOOD SECURITY AND NUTRITION: Climate change affects food production and availability with implications for nutrition and food security Changes in temperature and precipitation patterns along with extreme weather events can reduce crop yields, affect livestock productivity, and disrupt fishing communities This can lead to malnutrition, micronutrient deficiencies, and increased susceptibility to diseases
F MENTAL HEALTH AND WELL-BEING:
The psychological impacts of climate change are significant encompassing stress anxiety depression and post-traumatic stress disorder (PTSD) following extreme weather events like hurricanes, floods, and wildfires The uncertainty and perceived threats associated with climate change can also contribute to emotional distress and anxiety
G DISPLACEMENT AND CONFLICT: Climate change can lead to displacement and increase the risk of conflict by exacerbating resource scarcity, particularly water and food The resulting social and economic pressures can heighten tensions within and between communities, contributing to health impacts associated with displacement including increased exposure to infectious diseases malnutrition and mental health disorders
H VULNERABLE POPULATIONS: Certain groups are disproportionately affected by the health impacts of climate change, including children, the elderly, economically disadvantaged populations indigenous communities and people with pre-existing health conditions These groups may have limited capacity to adapt and are more likely to experience adverse health outcomes
The writer is a youth motivator and former Head of the University Department of Political Science, B N Mandal University Madhepura Bihar India
PTI sentiment Such a move risks politically isolating the PTI both within Pakistan and on the international stage, as it could be viewed as an excessive measure or a misuse of international institutions for domestic political conflicts
This strategy could arm opponents with grounds to accuse PTI of treason leading to possible legal actions against its leaders, a ban on the party, and the nullification of its electoral achievements in 2024
Furthermore there’s concern that this approach could prompt a coordinated media and civil society backlash against PTI labeling the act as unpatriotic and anti-state
Prime time TV shows might be pressured to denounce PTI s actions, while ad campaigns across traditional and social media could further condemn the party Engagement of civil society groups to criticize PTI could lead to a significant loss of the political capital the party gained following its strong performance in the 2024 elections especially if media outlets that had previously shifted their support towards PTI due to perceived election rigging and the treatment of its members reverse their stance
Media analysts might critique the PTI for its tendency to repeat past mistakes without considering the broader implications for national sovereignty and dignity Despite PTI s professed commitment to upholding the coun-
Difficult travel
04 Saturday 24 February 2024 COMMENT Lahore – Ph: 042-36300938, 042-36375965 I K arachi – Ph: 021-32640318 I Islamabad – Ph: 051-2204545 I Web: www pakistantoday com pk I Email: editorial@pakistantoday com pk
i r t y l i n e n i n p u b l i c ?
M A N Y wonder if the continued destruction in Karachi’s Defence Housing Authority (DHA) area can qualify to be comehow called ‘development’ The funds were not used for many years but suddenly every agency seems to have woken up leaving the everyday commuters quite frustrated RAJNEE VIMLA RAJKUMAR KARACHI
Road destruction
R E C E N T LY, I travelled from Hub to Karachi with a patient to seek medical treatment for him However, I fainted on the way due to the pathetic condition of the bus we were travelling in, and the suffocation owing to overcrowding I needed medical attention myself Those who travel to Karachi using these buses have to experience a lot of discomfort It is a daily hassle for many people Seats are often removed from the buses to make room for more passengers meaning more money per trip for the transporters And when the drivers indulge in overspeeding, which they invariably do, life becomes even tougher for the passengers Anyone who objects to the practice ends up facing abusive language The authorities should take strict action against these buses and their reckless drivers LIAQUAT K B KHUZDAR
A massive amount of money was spent on advertisements campaigns public gatherings and repair work before the recent elections Political parties were asking for the votes, but were the manifestos of their parties based on truth or lies? What will they actually do in the next five years? This is a million-dollar question HAMMAD JADOON KARACHI
THE main road that connects Turbat and Gwadar to other cities of Balochistan and then to the other provinces remained blocked by the residents of Sami for more than a week recently The protest was a reaction to an incident in which four lives were lost after their vehicle got drowned in the Kech River As the road has cut off native villages and towns of Turbat, the local people have to face many problems such as lack of food health facilities and other necessities that are not being delivered efficiently Turbat is a major city to which people come from a large number of villages to get their everyday supplies The relevant authorities should resolve the problem as soon as possible BILAL AHMED TURBAT Traffic jam T R A F F I C jams have become a norm in Karachi, especially during evening hours when people return to their homes from work A major cause of these traffic jams is the encroached sideways by cart vendors Besides a large number of motorcyclists and motorists do not follow the traffic rules They drive rather recklessly and on the wrong side of the road Despite the presence of traffic police constables such drivers violate all possible traffic rules The authorities concerned must take measures to make these drivers follow the traffic rules to avoid accidents and traffic jams MUMRAIZ KHAN KARACHI E d i t o r ’ s m a i l Send your letters to: Letters to Editor Pakistan Today 4-Shaarey Fatima Jinnah Lahore Pakistan E-mail: letters@pakistantoday com pk Letters should be addressed to Pakistan Today exclusively
Development
Road block
H E decision by the former PTI chairman to petition the IMF for an electoral audit of disputed election results struck many including myself and various opinion leaders, as a startling and misguided move This request, especially coming from a party with a strong legal cadre, seemed out of place given the IMF’s well-defined mandate The IMF focuses on international monetary stability and economic support dealing with financial assistance economic stability, and growth through policy reforms It does not involve itself in a nation s electoral matters or judicial grievances, which are sovereign issues The appeal to the IMF for electoral scrutiny not only deviates from its established role but also risks diminishing our standing by misunderstanding the scope of international institutions The decision by PTI s leadership to seek IMF intervention in electoral matters might reflect a profound mistrust in national institutions This disillusionment could stem from various grievances: the establishment s overt antagonism the Election Commission s invalidation of PTI s internal elections and subsequent stripping of its election symbol, which critically weakened the party s standing Additionally, the overwhelming legal challenges faced by the PTI chairman with over 200 cases lodged against him and a perceived judicial ineffectiveness where court orders seem disregarded and the only recourse for arrested and humiliated PTI members appears to be public disavowal of their allegiance, further exacerbate this trust deficit The erosion of trust in the judiciary was compounded when the Supreme Court confirmed the Election Commission’s decision to strip PTI of its election symbol This sentiment deepened with a landmark ruling that invalidated Imran Khan s marriage to Bushra Bibi a decision unprecedented in the context of Islamic jurisprudence Successive convictions of Imran Khan in highprofile cases, such as the Cypher, Toshakhana, and the legality of his marriage further alienated PTI supporters especially as numerous other legal challenges loom on the horizon The disillusionment with the country s institutions extended to the pre-election phase, where PTI faced considerable obstacles in organizing public gatherings When these events did proceed, media coverage was often
suppressed The
try’s honor, its actions, perceived as impulsive, often put its narrative and principles at risk This pattern of behavior as observed by commentators suggests a cycle where lessons from previous setbacks are not fully absorbed or integrated into future strategies challenging the party s ability to maintain its narrative consistency and political credibility Now that the arrow has been fired, and damage has been done the PTI should adopt a comprehensive and sustained strategy to damage control They should give positive spin to this blunder by framing PTI s decision to internationalize the issue of electoral integrity in Pakistan to the party’s commitment to transparency and fair play highlighting how this unprecedented step could pave the way for more accountable electoral processes The narrative could focus on the need for impartial oversight in the face of domestic challenges and frame the move as a proactive approach to safeguarding democracy This spin would portray PTI as a forwardthinking party willing to explore all avenues to ensure the sanctity of the electoral process thus aligning its actions with global best practices for democratic governance Open dialogue, transparency in their actions, and a unified front from leadership at all levels will be crucial in navigating criticism and reinforcing the party’s commitment to strengthening Pakistan’s democratic processes The writer retired as Press Secretary the President and is former Press Minister at Embassy of Paikistan to France and former MD, Shalimar Recording & Broadcasting Company Limited
I ’ s m i s g u i d e d m o v e Th e p a r t y n e e d s to h a n d l e t h i s c a re f u l l y Qamar BaShir O p e n d i a l o g u e , t r a n s p a r e n cy i n t h e i r a c t i o n s , a n d a u n i f i e d f ro n t f ro m l e a d e rs h i p a t a l l l ev e l s w i l l b e c r u c i a l i n n av i g a t i n g c r i t i c i s m a n d r e i n fo rc i n g t h e p a r t y Ês c o m m i t m e n t t o s t r e n g t h e n i n g Pa k i s t a n Ês d e m o c r a t i c p ro c e s s e s
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L I M AT E change is the significant and lasting changes in the statistical distribution of weather patterns over periods ranging from decades to millions of years It can manifest as a change in average weather conditions or in the distribution of weather events around an average condition It is characterized by alterations in temperature precipitation wind patterns and other elements of the Earth s climate system The current phase of climate change is largely attributed to human activities, particularly the emission of greenhouse gases such as carbon dioxide (CO2) methane (CH4) and nitrous oxide (N2O) which enhance the natural greenhouse effect and lead to an increase in the Earth s surface temperature This human-driven climate change is referred to as global warming, and has been observed since the pre-industrial period (mid-to-late 19th century), with significant acceleration in recent decades Key aspects of current climate change include:
GLOBAL WARMING: An increase in Earth s average surface temperature due to rising levels of greenhouse gases
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rainfall
snowfall patterns, leading to more intense rain events in some regions and increased droughts in others
CHANGES IN PRECIPITATION PATTERNS: Alterations in
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reduction of ice masses including glaciers ice caps and polar ice sheets contributing to rising sea levels
MELTING ICE AND SNOW: The
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RISING SEA LEVELS: Increased
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proving public health infrastructure and integrating climate considerations into public health planning and response strategies Collaboration across sectors and disciplines, along with community engagement and education, are crucial for effectively managing the health challenges posed by climate change Global climate change encompasses a wide array of changes to the Earth s climate system resulting from the increase in global average temperatures primarily due to human activities especially
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rajkumar Singh
Time to discipline India through FATF
Abution (Regulation) Act (FCRA), Unlawful Activities (Prevention) Act (UAPA) and Prevention of Money Laundering Act (PMLA) These laws are used to suppress dissent stifle activism and restrict funding access for non-governmental organizations (NGOs)
The Amnesty International report points out that in India over 20,600 NGOs have had their licences cancelled in the last decade including 6 000 in 2022 This crackdown has forced NGOs to significantly reduce their staff or shut down entirely As a result vital programmes supporting human rights, minority advocacy, gender equality and environmental issues are being curtailed, leaving the vulnerable population without crucial support Ironically NGOs are being targeted without any risk assessment defying FATF s own standards to uphold transparency in the process Amnesty International ceased operations in India in 2020 because of constant harassment from the government The UAPA, India’s major counterterrorism law, is often used to arbitrarily detain human rights activists and even students The rights of minorities in India are already threatened under the shadowy Hindutva ideology The BJP, which is the political face of the Rashtriya Swayamsevak Sangh (RSS), aims to create a “Hindu Rashtra” exclusively for the followers of the Hindu religion leaving no place for religious diversity Indian minorities particularly Muslims routinely face persecution at the hands of the Hindu majority often becoming targets for Hindu extremists due to their religious identity Incidents of Hindu mobs desecrating mosques and churches are on the rise Dalits who constitute about 17 percent of the population endure the worst forms of
abuse Given this background the Modi government has launched a campaign targeting anyone calling out the appalling state of human rights in India
The ongoing ethno-religious conflict in Manipur between the Hindu Meitei majority and the Christian Kuki tribal community has also laid bare the fraught social fabric of Indian society According to official sources violent clashes have claimed at least 180 lives with several hundred injured Churches and villages were set ablaze and more than 60,000 people have been displaced and forced to live in relief camps Kuki women have been subjected to horrifying genderbased violence by the Hindu mobs A number of United Nations human rights experts have raised alarm on the grave humanitarian situation in Manipur and an inadequate humanitarian response by the Indian government According to some experts, there are reports of counterterrorism measures being exploited in Manipur to “legitimize acts of violence and repression against ethnic and religious minorities
Meenakshi Ganguly South Asia director
at Human Rights Watch notes that “the BJP’s embrace of the Hindu majority at the expense of minorities has seeped into government institutions undermining equal protection of the law without discrimination the government has not only failed to protect Muslims and other minorities from attacks but is providing political patronage and cover for bigotry ” Throughout India Hindutva groups are involved in ethnically or racially motivated terrorism and enjoy state patronage Hindutva Watch, an independent research group documenting hate crimes and hate speeches against religious minorities in India, found out that 80 percent of hate incidents occurred in states and union territories under the BJP rule The RSS affiliates like the Vishwa Hindu Parishad (VHP) and the Bajrang Dal were mentioned as religious militant organizations by the World Factbook of the Central Intelligence Agency in 2018 A critical aspect of the support infrastructure for the Hindutva groups in India lies in an ingenious network of financial transactions often masked as charitable endeavours through both domestic and international organizations Hindutva Watch emphasizes that the growth and influence of these groups are tied to their financial resources A report by the South Asian Citizens Web (SACW) sheds light on the flow of millions of dollars from charity groups in the USA to RSS-affiliated organizations in India Between 2001 and 2014, significant contributions were made by organizations such as Ekal Vidyalaya Foundation and Vishwa Hindu Parishad of America (VHPA), which provided $27 million and $3 9 million respectively to the RSS and its affiliates Additionally Sewa International
transferred $3 3 million to various rightwing activities across India while the Infinity Foundation channeLled $1 9 million in grants to universities and researchers supporting the Hindu supremacist agenda This international funding acts as the financial backbone of Hindutva groups In fact, the Indian terror tentacles have outgrown their geographical borders where Indian diplomatic presence is leveraged to perpetrate terrorism in other countries including NATO member states From espionage activities in the Middle East to financing terrorist outfits like the Tehreek Taliban Pakistan and the Balochistan Liberation Army against Pakistan India is now engaged in an assassination drive in the Western countries targeting Sikh nationalists India has thus started behaving like a rogue state Ironically, despite its dubious history of supporting terrorism, New Delhi has manipulated its FATF membership in its favour and against other states
Despite showing overzealousness in implementing FATF recommendations the Indian government has failed to control money laundering and illicit trade The Smuggling in India Report (2021-22) highlighted 437 cases of duty evasion amounting to Rs 39,240 million, marking a 40-percent surge from the Rs 28 100 million reported in the previous fiscal year The UN-backed International Narcotics Control Board (2023) identified India as a significant contributor to the over $650 billion global drug trade, functioning as a distribution hub for narcotics markets worldwide
According to a report titled “A Golden Web: How India Became One of the World’s Largest Gold Smuggling Hubs (2019) various policies in India have incentivized smuggling and the illicit trade of gold The report revealed that possible conflict and illicit gold tied to human rights abuses in Africa and South America is entering India ” According to the same report “illicit gold enters the country is absorbed into the legal market with ease and is re-exported back out as jewellery Aakar Patel Chair of the Board at Amnesty International India, has urged FATF to hold Indian authorities accountable for the weaponisation of FATF recommendations, stating that Indian actions have led to a failure in compliance with both FATF standards and international human rights law
The FATF must hold its member states accountable to prevent exploitation of the global watchdog s recommendations FATF also needs to take necessary measures to discipline India through its mechanisms for indulging in terror financing and money laundering
The writer is a freelance columnist
The w o rld’s dro w ning in de bt
those preceding Japan s lost economic decade in the 1990s and the 2008-2009 US Great Recession With its property and credit market bubble burst, China could be well on the way to a lost economic decade of its own Europe’s debt problem is largely concentrated in the eurozone s south Both Italy and Spain have public-debt-to-GDP ratios considerably higher than at the 2010 eurozone sovereign-debt crisis Complicating matters, these countries are stuck in a euro straitjacket that precludes them from using their own exchange-rate or interest-rate policy
B ig Tech firms flagrantly disregard the implicit social contrac t that enables c apitalist economies to
OBy contrast, the multifaceted nature of CEOs’ roles makes it hard to evaluate their individual contributions But given that the metrics for measuring CEOs’ success such as share prices are shaped by the collective efforts of numerous employees and by chance it could be argued that they should be the last to receive monetary incentives
Moreover, Big Tech companies huge profits reflect their market power, which they have achieved by offering users “free” services like search and email while harvesting their personal data and copyrighted material to train AI models In the absence of competitive checks the quality of these services has gradually deteriorated – a trend that author and tech activist Cory Doctorow has described as “enshittification ”
At the same time, the adverse effects of Big Tech’s business models from rampant misinformation and deepfakes to clickbait have become increasingly apparent The emergence of generative AI has further fueled concerns about tech giants market dominance, as writers, artists, and other creative professionals find their livelihoods undermined by large language models that circumvent copyright-law restrictions with impunity
It does not have to be this way In a recent essay MIT economist David Autor argues that emerging AI technologies have the potential to complement the skills of human workers, particularly those, such as nurse practitioners, who typically do not receive incentive-based pay packages Similarly research by Autor ’s MIT peers Erik Brynjolfsson Danielle Li and Lindsey Raymond finds that AI significantly boosts the productivity of call-center workers Taken together, such studies suggest that generative AI could augment the work of creative freelancers instead of replacing them
But systemic change requires more than individual efforts The overwhelming power of Big Tech companies calls for government intervention to ensure that the value they create as well as the value they extract in monopoly
by examining the impact of major tech firms on labor markets, these actions are not enough To curb the market power of Big Tech firms and ensure that new technologies benefit everyone governments must invest in developing digital public infrastructure The concept of an open-standards technology stack – consisting of digital identification a payment system and a data-exchange platform – has gained traction in economic-development circles in recent years, and such frameworks could also streamline the
Saturday 24 February 2024 COMMENT 05 W H E N it comes to a c o u n t r y ’ s o v e r i n d e b t e d n e s s the four most dangerous words are This time is different As Harvard s Kenneth Rogoff and Carmen Reinhart taught us in their magisterial book “This Time Is Different: Eight Centuries of Financial Folly ” unless addressed promptly overindebtedness almost always ends in tears an economic banking or exchange-rate crisis How much more should we be worried about the world’s long-run economic outlook? It’s not only a single major country with troubling debt Each of the world s major economies has a serious debt problem caused by too many years of irresponsible budget policies and zero interest rates and could make it all the more difficult to avoid a recession and renewed financial strain at home Take the United States the world s largest economy At a time of cyclical economic strength, when the country should be running a budget surplus, it’s managing to run a deficit of around 6% of gross domestic product On present policies such deficits will continue as far as the eye can see according to the nonpartisan Congressional Budget Office That in turn will take us to public-debt interest payments exceeding those during World War II in relation to the size of the economy Since our government borrows in dollars there s little chance we ll default on the debt even if it reaches astronomical levels The Federal Reserve can always print money to repay it But there is a great chance such money printing will lead to ever-higher inflation and a dollar crisis Unfortunately we have not only a public-debt problem but a commercial-property-debt problem Over the next two years, almost $1 5 trillion in commercial-property debt matures With post-COVID vacancy rates at record levels and interest rates much higher than in the days of easy money it s difficult to see how such debt can be rolled over without major debt restructuring This makes it only a matter of time before we see a wave of regional-bank defaults that could shake the financial system as Silicon Valley Bank and First Republic Bank failures did last year China, the world’s secondlargest economy and until recently its main engine of economic growth also has a major debt problem Over the past decade credit to China s nonfinancial private sector grew by around 100% of GDP, per the Bank for International Settlements That’s a larger rate of debt increase than
to offset the adverse effect of budget belt tightening on aggregate demand Another round of the eurozone debt crisis is inevitable As if this were not enough reason for concern Japan until recently the world s third-largest economy has a public-debt level exceeding 250% of GDP around double that of the United States This hasn’t been a problem so far since the Bank of Japan has effectively been financing the government by keeping long-term interest rates below 1% But once rising inflation forces the bank to end its yield-control experiment, we could see a Japanese public-debt crisis With so many major debt problems around the globe it’s hard to see how we avoid a day of world economic reckoning The world s economic policymakers could mitigate such a day by recognizing we are sleepwalking to a world crisis and taking measures to make our debt more sustainable If they don’t we should brace ourselves for economic turbulence at home and renewed financialmarket strains as economic trouble abroad spills over to our shores American Enterprise Institute senior fellow Desmond Lachman was a deputy director in the International Monetary Fund s Policy Development and Review Department and the chief emerging-market economic strategist at Salomon Smith Barney
C C O R D I N G to the United Nations Office on Drugs and Crime (UNODC), money laundering in India reached $159 billion in 2021, accounting for around five percent of its GDP Based on the UNODC estimates, the Federation of Indian Chambers of Commerce and Industry released a report last September titled Hidden Streams: Linkages between Illicit Markets Financial Flows Organized Crime and Terrorism According to the report, between 2009 and 2018, there was a $674 9 billion surge in trade-based money laundering in India Currently India’s illicit trade gap is estimated to be 20 percent Overall India s black economy is projected to be about 62 percent of its GDP According to the Global Organized Crime Index (2021), criminal networks enjoy significant influence in India, scoring 6 which is higher than the average of 5 among 122 countries The illegal economy has an overall score of 6 3 surpassing the average of 5 India s illicit arms trafficking mark stands at 5 5 exceeding the 5 2 global average In drugs, India has a count of 6, compared to the global average of 5 The FICCI report further reveals the complex nexus between illicit trade organized crime and terrorism in India It highlights that illicit markets are on the rise and are contributing to the increase in criminal activities and terrorism in India, and beyond Under the Modi-led Bharatiya Janata Party government, India has devised a twopronged strategy for engaging with international organizations Firstly it uses multilateral platforms to spread propaganda against other states advocating for imposition of sanctions for violation of rules Secondly, the same rules are exploited to bolster the BJP’s hold domestically Indian association with the Financial Action Task Force (FATF) serves as a textbook example of this strategy According to the Amnesty International report titled Weaponising Counterterrorism: India s Exploitation of Terrorism Financing Assessments to Target Civil Society, the Indian authorities have exploited the 2010 and 2013 FATF recommendations to introduce draconian laws such as the Foreign Contri-
I n d i a i s awa s h i n te r ro r f i n a n c i n g
E of the defining economic challenges of our time is how to distribute the value generated by groundbreaking technologies, such as generative artificial intelligence and recent innovations in biomedicine and manufacturing which rely on massive computing power To improve living standards the benefits of transformative technologies must be widely shared So far, however, these benefits have been monopolized by a small cadre of tech billionaires Tesla CEO Elon Musk is a prime example Most people recognize that Musk did not deserve the $56 billion in annual compensation that the company s board of directors attempted to give him in 2018 given Tesla s relatively modest profits and years of losses Nevertheless the board argued that this enormous sum was necessary to incentivize Musk to remain at the company – an argument so baseless that a Delaware judge recently invalidated the board’s “unfathomable” compensation package But Musk is hardly alone Other tech behemoths such as Alphabet (Google s parent company), have similarly lavished their CEOs with hefty salaries and stock options under the guise of retaining top talent In reality, however, the actual contribution of star executives is often unclear Notably a classic 1991 study by Nobel laureate economists Bengt Holmström and Paul M i l g r o m s u g g e s t s t h a t i n c e n t i v e p a y w o r k s o n l y w i t h s i m p l e t a s k s t h a t h a v e m e a s u r a b l e outcomes and are executed by a single worker; i n s u c h c a s e s , c o m p e n s a t i o n c a n b e d i r e c t l y
N
linked to individual performance
rents, is distributed fairly among workers and c o n s u m e r s A l t h o u g h p o l i c y m a k e r s i n t h e United States and Europe have rightly focused on competition-enhancing measures including
B
i e v i n g t h i s r e q u i r e s
c
mindset
ment
potential to become a powerful platform for facilitating i n t e r a c t i o n s a m o n g g o v e r n m e n t s , b u s i n e s s e s
and citizens Ideally, a publicly owned payment s y s t e m c o u l d p r o c e s s t r a n s a c t i o n s b o t h b etween firms and among individuals across different jurisdictions Moreover the establishment of public digital infrastructure is crucial to implementing certain policy measures, such as Nobel laureate economist Paul Romer’s proposed tax on digital advertising The revenues from such taxes could for example finance waste collection and recycling initiatives A thriving market economy operates as a partnership between the government and the private sector Under this arrangement, businesses are allowed to manage their own affairs, provided they comply with laws and regulations, pay corporate taxes, and withhold their employees’ taxes But Big Tech firms have undermined this implicit agreement by exploiting various legal loopholes to minimize their tax burdens compromising the quality of their services, and routinely violating copyright laws The time has come to establish effective and necessary institutional mechanisms to ensure that potentially transformative technologies benefit everyone not just a privileged few Diane Coyle Professor of Public Policy at the University of Cambridge is the author most recently, of Cogs and Monsters: What Economics Is and What It Should Be (Princeton University Press 2021) S h a r i n g t h e t e c h w e a l t h B ra ce yo u r s e l f fo r e co n o m i c t u r b u l e n ce iraj aBiD NEW YORK POST D E S m o n D l aC h m a n PR OJECT SYNDICATE D i a n E C oY l E
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a
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Digital public infrastructure typically viewed simply as a means to provide govern-
services to individuals, has the
,
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T h e FAT F mu s t h o l d i t s m e m b e r s t a t e s a c c o u n t a b l e t o p r e v e n t e x p l o i t a t i o n o f t h e g l o b a l w a t c h d o g Ês r e c o m m e n d a t i o n s . FAT F a l s o n e e d s t o t a k e n e c e s s a r y m e a s u r e s t o d i s c i p l i n e I n d i a t h ro u g h i t s m e c h a n i s m s fo r i n d u l g i n g i n t e r ro r f i n a n c i n g a n d m o n e y l a u n d e r i n g
The
has come to c urb their market power and establish the institutional mechanisms necessar y to prevent
of technologic al innovation from being monopolized by a privileged few
H E recent spate of tragic incidents involving the banned Chinese manja during kite-flying festivals across India serves as a stark reminder of the urgent need for action to curb this menace The deaths or injuries underscore the gravity of the problem and demand immediate attention of the authorities policymakers and the public Thirteen-year-old Jasveer Singh of Adampur Punjab died after his throat was slit by the Chinese string while he was riding home on a scooter earlier this week In January six bikers four in Gujarat and one each in Maharashtra and Madhya Pradesh became victims of the prohibited string A farmer in Nashik Maharashtra sustained a severe neck laceration requiring 150 stitches In 2017 the National Green Tribunal had ordered a countrywide ban on the Chinese manja However the string continues to inflict harm on unsuspecting people and wildlife There are numerous reports of birds suffering grievous injuries or dying after getting entangled in the razorsharp string Along with the public shunning the deadly string it is imperative that the authorities heed the calls for strict enforcement of the ban on the Chinese manja by intensifying surveillance cracking down on underground markets and imposing stringent penalties on violators Also awareness campaigns must be conducted to alert people about the grave risks associated with the manja and encourage them to use safe, environmentfriendly alternatives The joy of kite-flying must not be eclipsed by the spectre of mishaps Hazardous kite string Ne e d to e n fo rce b a n o n s a l e o f Ch i n e s e m a n j a TRIBUNE E D to r i a l
Pakistan Cables
UN
For the first time since its creation in 1948, Israel stands accused of genocide at the International Court of Justice, the highest judicial body of the United Nations, over its Gaza war An interim ruling in January ordered Tel Aviv to stop genocidal acts and take measures to guarantee that humanitarian assis-
tance is provided to civilians in Gaza
Earlier Qatar said Tuesday that negotiation for a Gaza cease-fire and hostage swap between Hamas and Israel are ongoing Qatar continues its role and efforts and communications are still ongoing between
all parties,” Foreign Ministry spokesman Majed Al-Ansari told reporters
He
Oil
IC J holds public hearings on Israel’s occupation of Palestine for fif th day
For the fifth consecutive day the International Court of Justice in The Hague continues its public hearings regarding the legal implications arising from Israel’s policies and practices in the occupied Palestinian territories including East Jerusalem
The hearings come within the framework of the UN General Assembly s request for an advisory opinion from the International Court of Justice on the legal consequences of Israel’s prolonged occupation for over 57 years
Namibia remembers painful colonial history which resembles that of Palestine
Addressing the ICJ Namibia s Justice
Minister Yvonne Dausab demanded that the court recognizes Israel s occupation of Palestinian territories as illegal
She made parallels between Palestine and Namibia that are “striking and painful Instead of exerting their right to govern themselves she said Palestinians and Namibians suf-
fered the loss of human dignity and the outright theft of their land and natural resources” According to her Namibia still suffers from the effects of a long and unlawful occupation The ICJ played a vital role in our liberation struggle In its 1971 opinion, Dausab added, the court confirmed the right to self-determination as a legal imperative”, paving the way to Namibia’s independence in 1990 She continued “Because of Namibia’s experience with apartheid we cannot look the other way in the face of the brutal atrocities committed against the Palestinian people We ask the court not to look away either Oman: International community failed to help Palestinians achieve their aspirations
The representative of the Sultanate of Oman stated that more than 75 years have passed and the Palestinian people remain under Israeli occupation facing injustice the absence of justice, and massacres
RAMALLAH
Ag e N c i e s
saturday 24 February 2024 LAHORe 06 news PR OFIT R e u t e R s
prices fell on Friday
on track for a weekly decline after
U
central bank
interest rate cuts could
at
two more months
crude futures
down $1 35
1 6%
1313
Intermediate crude futures lost $1 35, or 1 7%, to $77 26 Both benchmarks were poised to register weekly declines after two weeks of gains but indications of healthy fuel demand and supply concerns could revive prices in the coming days U S Federal Reserve policymakers should delay interest rate cuts by at least another couple of months, Fed Governor Christopher Waller said on Thursday, which could slow economic growth and curb oil demand Some analysts however say demand has remained largely healthy despite the impact of high interest rates including in the United States JPMorgan s demand indicators are showing oil demand rising by 1 7 million barrels per day (bpd) month over month through Feb 21 its analysts said in a note on Friday This compares to a 1 6 million bbd increase observed during the prior week, likely benefiting from increased travel demand in China and Europe,” the analysts said The Fed has held its policy rate steady in a 5 25% to 5 5% range since last July Minutes of its meeting last month show most central bankers were worried about moving too quickly to ease policy Waller also pushed back on the idea that the Fed risks sending the economy into recession if it waits too long to cut rates saying the Fed can afford to “wait a little longer” Oil futures had settled higher on Thursday as hostilities continued in the Red Sea, with Iran-aligned Houthis continuing attacks near Yemen Meanwhile, Israeli Prime Minister Benjamin Netanyahu’s war cabinet has approved sending negotiators to truce talks taking place in Paris on Friday as pressure mounts according to a source briefed on the matter and Israeli media O il
Fed in
c ut interest rates PARIS Ag e N c e s
GYPT Qatar the US and Israel began talks in the French capital Paris on Friday to discuss a ceasefire in the Gaza Strip as well as a prisoner swap deal between Palestinian resistance group Hamas and Tel Aviv, Egyptian media reported Delegations from Egypt Qatar the US and Israel met in Paris to discuss a cease-fire in Gaza and a prisoner swap deal Al-Qahera News channel reported without providing further details On Feb 7, Hamas proposed a threestage plan for a Gaza cease-fire that included a 135-day pause in fighting to carry out a hostage swap deal according to a Palestinian source The original framework agreement was hammered out during a meeting in the French capital last month of top officials from the US, Israel, Qatar, and Egypt Israel believes that there are 134 Israelis being held in Gaza after the Israeli army managed last week to free two Israelis held in the city of Rafah in the southern Gaza Strip Israel has pounded the Gaza Strip since an Oct 7 cross-border attack by the Palestinian group Hamas The ensuing Israeli war has killed more than 29 500 people and caused mass destruction and shortages of necessities The Israeli war on Gaza has pushed 85% of the territory’s population into internal displacement amid acute shortages of food clean water and medicine while 60% of the enclave s infrastructure has been damaged or destroyed according to the
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said the humanitarian conditions are taking a central stage in the ongoing talks for a hostage-prisoner swap deal between Hamas and Israel On Monday Qatar accused Israeli Prime Minister Benjamin Netanyahu of prolonging the war in the Gaza Strip Hamas is believed to be holding more than 130 Israeli hostages following its Oct 7 cross-border attack into Israel Israel has since pounded the Gaza Strip The ensuing Israeli attacks have killed nearly 29 195 and injured about 69 170 with mass destruction and shortages of necessities, while less than 1,200 Israelis are believed to have been killed in the Hamas attack The Israeli war on Gaza has pushed 85% of the territory’s population into internal displacement amid acute shortages of food clean water and medicine while 60% of the enclave s infrastructure has been damaged or destroyed, according to the UN Israel stands accused of genocide at the International Court of Justice An interim ruling in January ordered Tel Aviv to stop genocidal acts and take measures to guarantee that humanitarian assistance is provided to civilians in Gaza Q U A D R I PA R T I T E M E ET I N G K I C KS O F F I N PA R I S T O D I S C U S S G A Z A C E A S E - F I R E , H O S TA G E S W A P
hits $2tr valuation as AI frenz y grips Wall Street PR OFIT R e u t e R s Nvidia (NVDA O) hit $2 trillion in market value on Friday riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom The milestone followed another bumper revenue forecast from the chip designer that drove up its market value by $277 billion on Thursday – Wall Street s largest one-day gain on record Its rapid ascent in the past year has led analysts to draw parallels to the picks and shovels providers during the gold rush of the 1800s as Nvidia’s chips are used by almost all generative AI players from chatGPT-maker OpenAI to Google That has helped the company vault from $1 trillion to $2 trillion market value in just around nine months – the fastest among U S companies and in less than half the time it took tech giants Apple (AAPL O) and Microsoft (MSFT O) “For AI companies today – the leaders of the sector – what’s going to be binding for them is not going to be demanded It’s just going to be their capacity to answer the surging demand ” said Ipek Ozkardeskaya senior analyst at Swissquote Bank
Nvidia
sell land for debt repayment PR OFIT N e w s D e s k Pakistan Cables Limited (PCL) announced Friday to sell part of its land to repay loans and relocate its Karachi operations Pakistan Cables informed the Pakistan Stock Exchange (PSX) through a notice that its Board of Directors approved the sale of approximately 4 334 acres of the company s total 11 15 acres at Pakistan Cables Road S I T E Karachi This includes plots B/21-A measuring 3 328 acres and B/21-B measuring approximately 1 006 acres, with the sale including buildings and fixtures on the land The proceeds from the sale will be used to repay the company’s loans and support the relocation of Karachi operations to Nooriabad The decision is pending shareholder approval as per Section 183(3)(a) of the Companies Act, 2017, read the company s notice An Extraordinary General Meeting (EOGM) for shareholders’ approval is scheduled for March 18, 2024, at the Institute of Chartered Accountants of Pakistan (ICAP) Karachi
to
CORPORATE CORNER HBL profit rises to record Rs114 billion, up 47% in 2023 K A R A C H I: HBL declared a record profit before tax of Rs113 6 billion for the year ended December 31, 2023, 47% higher than the PBT recorded in 2022 Profit after tax has increased to Rs57 8 billion a commendable 68% growth over last year Earnings per share for 2023 increased to Rs39 32 compared to Rs23 23 in 2022 Along with the results, the Bank declared a final dividend of Rs4 00 per share, bringing the total dividend for 2023 to Rs9 75 per share HBL grew its balance sheet by 19% to Rs5 5 trillion Deposits displayed a robust growth of 19% over 2022 closing at Rs4 1 trillion with domestic deposits increasing by Rs 533 billion to Rs 3 5 trillion PR
Dove Pakistan is honouring five inspiring and courageous women of Pakistan who have accomplished milestones in their respective arenas while causing change in their own unique way The beloved shampoo brand provides these exemplary women a platform to share their stories and discuss their achievements through the No Damage Beyond Repair” podcast
The Dove Pakistan podcast series empowers the resilient and courageous women of our society by enabling them to narrate their experiences and inspire others to take charge of their own stories This podcast challenges the age-old misconception that once the damage is done it can’t be reversed and things can’t be made right again The podcast highlights the strength and resilience of exceptional women who have triumphed over all the adversities, challenges, judgement, and criticism that came their way and rose above it all
and
Bahria University join hands to facilitate
media personality Dove Pakistan created a safe and welcoming space for these women to share their experiences in a heart-to-heart conversation They talked about what it took to get to the point where they are in their lives currently These women underscored Dove’s core message that any challenge or impediment in life can be conquered by determination and tenacity Unfortunately we still live in times where traditional expectations often clash with gender roles Despite that, these women have emerged as pioneers who have defied challenges shattered stereotypes and left a lasting impact in their respective fields Dove Pakistan has always championed women and believed in being a vessel through which women’s stories and their accomplishments can be highlighted The podcast is another step towards The podcast is a means to kickstart conversations around women and their achievements and cause a change in societal mindsets when it comes to women By amplifying the voices of resilient women the "No Damage Beyond Repair" series challenges outdated perceptions and orthodox beliefs reshaping societal norms The "No Damage Beyond Repair" series by Dove Pakistan emerges as a guiding source of light for supporting and encouraging the nation s women from all walks of life while celebrating their uniqueness and lauding their achievements The idea was to make a statement about how women can achieve anything they want with their determination and brilliance and the podcast is doing that in the best way possible
continuing with their commitment to empower women
premium hospitality educ ation ISLAMABAD: In an exciting initiative designed to enhance hospitality education in Pakistan, Hashoo School of Hospitality Management (HSHM) and Bahria University are joining hands and providing a more holistic academic experience for upcoming hospitality leaders The launch ceremony of this partnership, held recently in Pearl-Continental Hotel, Rawalpindi, was attended by senior executives from Hashoo Group, Pakistan Navy, HSHM and academia Through this partnership HSHM students will be housed at the Bahria Finishing School with access to state-of-the-art facilities such as modern classrooms training kitchens, a mock restaurant and training hotel room while learning from leading culinary and hospitality experts from around the globe PR C E O ZO N G , P TA c h a i r m a n d i s c u s s f u t u r e o f te l e c o m s e c to r i n Pa ki s t a n ISLAMABAD: Zong ’s Chief Executive Officer Mr Huo Junli Chief Technical Officer Lu Jianhui Chief Regulatory Office Kamran Ali met with Chairman PTA Maj Gen (R) Hafeez Ur Rehman on 21st February 2024 at the PTA Headquarters Islamabad The purpose of this meeting was to discuss critical aspects shaping the future of the telecommunications industry in Pakistan Key agenda items included addressing challenges encountered by the sector and devising- relevant strategies to mitigate them as well as outlining the framework for the upcoming spectrum auction The strategic session delved into topics such as network infrastructure development, enhancing 4G coverage, advancing leadership in data services, and exploring various IoT solutions PR Jazz, EFU Life introduce Takaful to broaden financial inclusion ISLAMABAD: Jazz has collaborated with EFU Life Assurance Ltd to introduce the industry s first Takaful (Shariah-complaint) offering for its subscribers Through this collaboration Jazz subscribers can opt for low-cost Takaful products with unique benefits including a health wallet, cancer protection, and coverage for female major medical illnesses In addition the customer’s entire family will be able to utilize virtual healthcare benefits Sharing his thoughts on the development Kazim Mujtaba Chief Commercial Officer at Jazz said We are excited to partner with EFU Life to include a full suite of industry s first Shariah-compliant products within a single program PR
07 NEWS Saturday 24 February 2024 LAHORE
Hosted by Dr Sidra Iqbal the five-episode podcast series featured inspiring individuals such as Pakistani cricketer Kainat Imtiaz Azima Dhanjee from ConnectHear, Zahra Khan, the innovative mind behind "No-Nonsense Cheesecake " and breast cancer survivor and lastly mental health advocate Rabia Najeeb During the last episode host Dr Sidra Iqbal also spoke at length about her journey from a debate champion to a
Dove Pakistan celebrates exemplar y women of our society through the "No Damage Beyond Repair" podc ast
sec ures WFME accreditation ISLAMABAD: In a landmark achievement the Pakistan Medical & Dental Council (PM&DC) has been granted accreditation by the World Federation for Medical Education (WFME) This recognition underscores PM&DC's commitment to ensuring the highest standards of medical education within Pakistan With the remarkable feat of being granted the (WFME) Recognition Status for a remarkable tenure of 10 years PM&DC being WFME accredited all the Pakistani students become eligible to apply for ECFMG and USMLE Achieving WFME Recognition will enable Pakistan s medical graduates to pursue postgraduate training and practice in other countries that require WFME recognition such as the United States Canada Australia and New Zealand PR
HSHM,
PM&DC
ISLAMABAD: Capital City Police Officer (ICCPO) Dr Akbar Nasir Khan on Friday held an online khuli katcheri to give the residents direct access to the police high ups a public relations officer said He said that the ICCPO Dr Akbar Nasir Khan responded to the public queries via phone calls from 02:00pm to 03:00pm ICCPO Dr Akbar Nasir Khan listened to the problems of the callers and directed the concerned officers for their immediate solution Most of the problems that were mentioned were the citizen's personal and were related to police stations Speaking to the citizens, the ICCPO said that the police were striving hard to redress public issues as early as possible He said the purpose of such initiatives was aimed at bridging the gap between police and the public PR PESHAWAR A Z I Z B U N E R I S A R H A D Chamber of Commerce and Industry (SCCI) President Fuad Ishaq and Member Operation Federal Board of Revenue (FBR) Islamabad Farid Iqbal have agreed to form a joint committee, comprising members of the chamber and the Customs Department to resolve the issues being faced by the business community importers and exporters According to an SCCI statement FBR Member (Operation) Farid Iqbal visited the chamber house on Friday and held a meeting SCCI chief Fuad ishaq On the occasion, the SCCI chief demanded bringing the tax ratio to single digit to strengthen the economy trade and businesses He called for broadening the existing tax net by including new people instead of overburdening the current taxpayers SCCI senior vice president Sanaullah Khan Senator Nauman Wazir former president Zahidullah Shinwari Riaz Arshad Haji Muhammad Afzal Customs KP chief collector Saeed Akram, Collector Customs Enforcement Khawaja Kurrum Naeem, Collector Custom Appraisement Amjadur Rehman Director Customs Transit Arbab Qaiser PRO Customs Peshawar Sohail Ahmad SCCI executive committee members Hamza Ibrahim Butt, Minhajuddin, and former senior vice president Ziaul Haq Sarhadi, Ihsanullah, Rashid Iqbal Siddiqui, FMCG president Atif Shehzad, general secretary Aftab Amin Khalid Farooq traders industrialists and importers and exporters were present during the meeting Fuad Ishaq while speaking on the occasion called for simplifying the existing taxation system through reforms He demanded early for KhyberPakhtunkhwa businessmen refunds He also stressed the need for removing reservations of the business community attached with consumers goods regarding the imposition of the Point of Sale (POS) system He suggested equalization tariffs of 224 items with duties of Afghanistan Similarly he proposed five year taxholidays for KP businesses and industries for all taxes
provision of uninterrupted gas
electricity supply to industries and making reduction in their prices He said business friendly policies should be implemented to flourish industries, business and economy The FBR member (Operation) while responding to various queries of the participants said that facilitation of the business community resolution of their problems and bringing ease in taxation system is topmost priority He noted that Pak-Afghan bilateral trade is passing through a challenging phase He however said steps were taken for streamline and smooth border trade because a prosperous business community and taxpayers are essential to economic stability and development in the country Pakistan’s economy 70 percent dependent on border trade and government always takes initiatives keeping in view the national interest Mr Iqbal said He agreed with proposals of SCCI chief and other participants regarding bringing reforms in taxation system and amicable resolution of business community problems Farid Iqbal assured the issues would be taken up with relevant authorities and would resolve amicably He said all possible steps would be taken to provide relief to the business community SCCI CHIEF, FBR MEMBER AGREE ON JOINT BODY TO RESOLVE TA XPAYERS’ ISSUES
ICCPO responds to public queries via phone c alls during open cour t
and
TAsad Toor ‘quiz zed’ for hours in probe into ‘smear campaign’ against judges
E
’s a l l e g at i o n s ‘ f a l s e ’
ISLAMABAD S TA F F R E P O R T
The Election Commission of Pakistan s (ECP) inquiry committee constituted to probe into the rigging allegations levelled by former Rawalpindi Commissioner Liaquat Ali Chatha submitted its report concluding that the regarding ‘poll rigging allegation were false and based on lies
The inquiry report came a day after Liaquat Ali Chatha backtracked on his allegations that he played a role in rigging the elections to make the losers win in Rawalpindi Division
In a letter to the Election Commission of Pakistan (ECP) secretary, Chattha said last week s press conference was held at the behest of a senior PTI leader, who also happens to be a proclaimed offender
According to insiders the high-level committee in its report submitted today recommends legal action against the former Rawalpindi commissioner for making false accusations and po-
tentially impacting the commission s integrity
The inquiry committee thoroughly investigated Chatha s allegations, reviewing evidence and interviewing relevant officials Their findings, as per sources, conclusively debunked the claims of rigged elections The committee according to the sources mentioned the Chatha s letter in its report and quoted him as saying that he was influenced by external forces when making his statement Mr Chatha has apologised to ECP in front of the inquiry committee ” it stated
The inquiry report has attached Chatha s statement along with details regarding returning officers (ROs) and district returning officers (DROs) from national and provincial constituencies Expressing shame and embarrassment in his letter the former Rawalpindi commissioner sought an apology from the nation Chatha stated that the entire plan to malign state institutions was approved by the PTI leadership The ex-commissioner clarified
that he never instructed any Returning Officer to show favoritism or intervene in the election process
With a 32-year service record I was scheduled to retire on March 13, 2024, and held concerns about potential loss of benefits in the future I deeply regret my statement and offer a sincere apology to the nation Chatha stated The former commissioner revealed that during his role as Punjab s secretary, he forged close ties with a political party official, aiming for future advantages “The party official went into hiding due to involvement in the May 9 incidents I was in touch with him and also used to assist him secretly, he said Liaquat Chatta disclosed a covert meeting with the leader of a political party in Lahore on February 11 and was tasked with devising a plan to confirm allegations of election rigging however concerned about the potential ineffectiveness of the accusations, he opted to conduct an emotionally charged press conference
LAHORE
The court of a Judicial Magistrate in Lahore on Friday remanded anchorperson Imran Riaz to jail in a corruption case
Imran Riaz along with his father was arrested in the wee hours of Friday by the Punjab Anti-Corruption Establishment (ACE) from his house with visuals of the arrest going viral on social media
According to the ACE the anchor person and his father have been accused of securing a contract about Dharabi Lake in Chakwal at an inflated price
He was presented in the Judicial Magistrate Imran Abid court by the Anti-Corruption Establishment (ACE) and sought a 14-day physical remand
Opposing the ACE request, one of Imran Riaz’s lawyers –Rana Maroof told the court that the case filed against his client was against the law and false He maintained that Riaz s father never served as a government official Maroof argued that Riaz had not caused harm to the national treasury “Imran Riaz was arrested like a terrorist ” he said
Azhar Siddique an-
lawyer said that the anti-corruption authorities had neither
evidence nor any documents to prove the allegations against his client
During the hearing Imran Riaz said: These people came to my house I surrendered to them I told them not to enter my home They made me sit in the car and then entered my home They searched my home for 15 minutes ”
He asserted that authorities were lying about the contract in question The previous contract was Rs11 million We took this contract for an upwards of Rs4m he said He said that handcuffs were being slapped on his wrists in order to “pay salute to the queen” an apparent reference to PML-N s Maryam Nawaz who has been
by the party for the slot
votes,” he said He called
“corrupt mafia”
The anchorperson further stated that he had “borne all the cruelty” on his own If I am stuttering again today it is because my father was called corrupt he claimed The institutions and their people are my own even if they beat me [ ] these are people from the ACE and they are doing their jobs ” Riaz said “If they arrest me today it is possible that some other people will meet me [in custody] and torture me But I will bear that cruelty as well,” he told the court, recalling that his wife begged those who arrested him last night and kept asking why the anchorperson was being arrested I myself didn t know why they were arresting me and who they were, Riaz added He went on to say that he had surrendered himself but requested the authorities to not enter his house “Yet they entered my home and I don t know what they did there Riaz said He also expressed hope that the country would recover one day, adding that Pakistan will not stay like this forever”
“Most of my journalist friends tell me to leave the country and purchase property abroad But I tell them that I will stay in Pakistan as long as
Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited Ph: 042-36300938, 042-36375965 Email: newsroom@pakistantoday com pk PRAYER TIMINGS FA J R S U N R I S E Z U H R A S R M AG H R I B S H A 6:00 6:40 1 30 4:30 6:00 7:30 Saturday 24 February 2024 NEWS
ISLAMABAD S TA F F R E P O R T The Federal Investigation Agency (FIA) on Friday interrogated Journalist Asad Ali Toor for long eight hours in connection with a “smear campaign” against judges of the apex judiciary in the aftermath of the verdict on PTI s electoral symbol bat Human rights lawyer Imaan Zainab Mazari-Hazir, counsel for Toor, posted on social media platform X that the journalist and his legal team left the FIA’s cybercrime wing headquarters at 7pm after his detention at 10:50am Toor thanked his legal and his supporters for their help and solidarity throughout the incident saying that he faced a tough time Before his release, Mazari told Dawn com: We have been here (at the FIA s cybercrime wing headquarters) since 10-11am They (FIA officials) made the lawyers leave the room and took him to another room “They’ve been investigating him alone for two hours No list of allegations has been provided We don t know what they re investigating him for He s not allowed access to counsel during this and we are still waiting in the FIA HQs She further alleged that Chief Justice of Pakistan (CJP) Qazi Faez Isa was “a party to this and is fully aware of what is happening” Talking to digital media platform Voicepk net she said Toor was not served any notice but was alerted about his summon by the FIA via social media She said Toor and his legal team complied with the summon to join the investigation as a display of the journalist’s positive intent She said Toor had asked for the list of allegations against him so he could submit a detailed written response It s been six hours since 11am that we are sitting here Mazari said adding that the legal team was asked to leave Toor We were told that there is no list of allegations and the investigation will begin when the legal team leaves the room ” Mazari said the legal team was not aware of the questions being asked of Toor She added that the notice was about a campaign against the judiciary I think this is very unfortunate that some Supreme Court judges, or the chief justice, are abusing the FIA’s coercive power against journalists who speak the truth and criticise decisions which is the right of every citizen ” ISLAMABAD A H M A D A H M A D A N I Following an extensive investigation into the excessive billing issues of power distribution companies (DISCOs) including K-Electric, the National Electric Power Regulatory Authority (NEPRA) has issued a comprehensive directive to address the grievances of consumers and ensure compliance with regulatory standards According to NEPRA all DISCOs have been directed to comply with the directive and rectify/address all the pointed-out discrepancies within one month/billing cycle and the compliance report concerning directions shall reach the NEPRA office within 30 days of the receipt of the directive And in case of failure of Distribution Companies (DISCOs KE) to comply with this directive the Authority (NEPRA) will be constrained to issue Show Cause notice under regulation 4 of the Fine Regulations for the proceedings already initiated and initiate any other proceedings as provided in any other applicable provision of law, said NEPRA Earlier, the Authority (NEPRA) received numerous complaints from all across Pakistan regarding charging of excessive and wrong bills by the DlSCOs and Karachi Electric Limited (KEL) to the consumers on account of delay in monthly meter readings average billing, and meter reading without snaps, etc , resultantly protected/life-line billing status/tariff of less user consumers was changed to non-protected/non-lifeline in the months of July 2023 & August 2023 The Authority provided an opportunity of hearing to the DISCOs on September 13 2023 However the DISCOs failed to submit any cogent justification and the Authority constituted an inquiry committee (the Committee) comprising of NEPRA professionals to probe further into the matter and submit its comprehensive report in this regard for consideration of the Authority The Committee submitted its report which revealed numerous violations of applicable documents on part of all DISCOs while the details of discrepancies violations and contraventions were clearly mentioned in the Inquiry Report which was also published on NEPRAs official website on December 4, 2023 Despite publication of report on NEPRA’s official website, the DISCOs failed to take remedial measures and resolve the billing issues as highlighted in the Inquiry Report Resultantly the Authority decided to initiate legal proceedings against the delinquents and explanations were issued to all the DISCOs on December 22 2023 under Regulation 4(1) & (2) of NEPRA (Fines) Regulations 2021 ( Fine Regulations ) to either admit or deny the occurrences of the violation(s) reflected in the Inquiry Report within fifteen (15) days In response, the DISCOs submitted the replies, however, after thorough examination the same were found unsatisfactory by the Authority The Ministry of Energy (Power Division) also constituted an independent committee (the GoP Inquiry Committee ) to inquire into the issues of excessive billing and other matters raised by NEPRA vide the aforementioned Inquiry Report The report of the GOP Inquiry Committee dated December 26 2023 was received in NEPRA on February 12 2024 ( GoP Inquiry Report ) The GoP Inquiry Report also highlighted areas of improvements According to NEPRA the Authority has reasonable cause to believe that the violation has in fact occurred however instead of forthwith issuing directions to the Registrar to issue show cause notice to the DISCOs under the Fine Regulations, the Authority has decided to issue this directive in the larger interest of the consumers and the sector to afford an opportunity to the DISCOs to redress the grievance of the consumers NEPRA in a statement said that the Authority has issued the following directions to the DISCOs: DISCOs have been directed to comply with all the recommendations/directions highlighted in the Inquiry Report and GOP Inquiry Report Distribution Companies shall replace all defective meters immediately having age above two (02) months N E P R A i s s u e s d i r e c t i ve t o D i s co s , K E o ve r exce s s i ve b i l l i n g PR OFIT N E W S D E S K
H E Pakistan Stock Exchange (PSX) experienced a surge on Friday after the International Monetary Fund (IMF) signaled collaboration with the upcoming coalition government According to the PSX website the benchmark index gained 901 47 points or 1 46% to close at 62 815 81 level The improved market sentiment was primarily attributed to the IMF s commitment to work alongside Pakistan’s new administration to promote macroeconomic stability and prosperity across the nation During a press briefing on Friday Julie Kozack Director of the Communications Department at the IMF, said, We look forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens ” She noted that the IMF Executive Board had approved the first review of the Stand-By Arrangement (SBA) with Pakistan on January 11, 2024, leading to total disbursements amounting to $1 9 billion This arrangement supports Pakistan’s endeavors to stabilise its economy with a significant emphasis on safeguarding the most vulnerable sectors Kozack further highlighted that during the interim government s tenure Pakistan had managed to maintain economic stability by adhering to a stringent monetary policy to curb inflation and bolster foreign exchange reserves Additionally, on Friday, newly elected members of the Punjab Assembly took their oath Around 215 lawmakers of the PML-N and allied parties along with 98 Sunni Ittehad Council (SIC) and PTI-backed lawmakers were administered by outgoing speaker Sibtain Khan On the other hand, investors still look hesitant as they wait for clarity on political and economic fronts Brokerage firms also anticipate that potential discussions with the IMF could catalyze the stock market as Pakistan intends to seek additional loans from the global lender to service its foreign debt IMS Securities projected a market consolidation phase until the new coalition cabinet was established Expect the market to consolidate until the new coalition cabinet is finalised Upcoming triggers would be negotiations with the IMF for a new loan program of at least $6 billion critical to continue the ongoing macro recovery However political anxiety and an uptick in inflationary pressures would keep the upside in check IMS Securities said PSX RISES 900 POINTS AS IMF SIGNALS COLL ABORATION WITH NEW GOVT g B R O K E R A G E F I R M P R O J E C T S A M A R K E T C O N S O L I D AT I O N P H A S E U N T I L N E W C O A L I T I O N C A B I N E T I S A N N O U N C E D PR OFIT N E W S D E S K The Sensitive Price Indicator (SPI) recorded a slight increase of 0 04% week-on-week (WoW) for the week ending February 22 2024 while the SPI increased by 30 68% year-on-year (YoY) compared to the corresponding period last year A Sensitive Price Indicator (SPI) is computed on a weekly basis to assess the price movement of essential commodities at a shorter interval of time to review the price situation in the country According to the latest data released by the Pakistan Bureau of Statistics (PBS) prices of various items increased with tomatoes (22 71%) bananas (7 40%) diesel (3 02%) chicken (1 22%) petrol (1 00%) sugar (0 87%), mutton (0 86%), beef (0 74%), curd (0 71%), pulse moong (0 54%), firewood (0 20%) and georgette (0 14%) The SPI data shows a WoW decrease in several commodities Onion prices decreased by 14 42% making it the item with the largest drop Eggs LPG cooking oil wheat flour mustard oil potatoes and vegetable ghee also showed price reductions Out of 51 monitored items, the report indicates that prices increased for 23 items, decreased for 8 items, and remained stable for 20 items The year-on-year trend depicts the increase of 30 68% gas charges for Q1 (480 00%) tomatoes (199 93%) chili powder (81 74%) wheat flour (65 29%) gents sponge chappal (58 05%) gents sandal (53 37%), sugar (50 84%), gur (48 96%), salt powder (39 97%), garlic (36 31%) and energy saver (34 17%) A decrease was observed in the prices of bananas (17 73%) vegetable ghee 1 KG (17 26%) mustard oil (15 98%) cooking oil 5 litre (13 66%) vegetable ghee 2 5 KG (12 02%) LPG (9 42%) and eggs (5 33%) W e e k l y i n f l a t i o n i n c r e a s e s b y 3 1 % Yo Y g OUT OF 51 ITEMS, PRICES INCREA SED FOR 23 ITEMS, DECREA SED FOR 8 ITEMS, AND REMAINED STABLE FOR 20 ITEMS
c o n
C P ’s c o m m i t t e e
c l u d e s p r o b e, f i n d s ex- P i n d i c o m m i s s i o n e r
F F R E P O R T
S TA
Advocate
other
of provincial
chief
people’s
legal
ther
the
hope
the
nominated
chief minister The queen is being made the
minister after stealing the
on authorities to show a single
document which highlighted any form of corruption What upsets me is the fact that my father has been called corrupt, Riaz said, adding that his fa-
was an honest man He asked for his father to be removed from
first information report Riaz said that he had great
from the judiciary adding that he would continue to fight
l am alive A n c h o r p e r s o n I m r a n R i a z re m a n d e d to j a i l i n c o r r u p t i o n c a s e
yet
decide on allocation of reser ved seats
SIC ISLAMABAD S TA F F R E P O R T The Election Commission of Pakistan (ECP) has yet to decide on whether to allocate reserved seats in the National Assembly and provincial assemblies to Sunni Ittehad Council (SIC) after an alliance with Pakistan Tehreek-e-Insaf (PTI) The ECP was requested to allot the seats on the basis of the inclusion of Pakistan Tehreek-e-Insaf (PTI)-backed candidates in their party In this regard a request drafted by SIC Chairman Sahibzada Hamid Raza was submitted with the electoral watchdog through a PTI representative On Monday, the PTI announced that its independent candidates would join the Sunni Ittehad Council to form governments at the Centre in Punjab and Khyber Pakhtunkhwa in a bid to secure reserved seats The PTI candidates contested the elections as independents after the Supreme Court upheld the election supervisor s decision, considering its intraparty polls unconstitutional and revoked its claim on the electoral symbol of ‘bat’ According to sources a meeting of Election Commission of Pakistan (ECP) was held to discuss the matters related to allocation of reserved seats to Sunni Ittehad Council which remained inconclusive In this regard, the electoral watchdog has summoned another meeting on Monday in which Chief Election Commissioner (CEC) will review the application for reserve seats As per the Constitution, the reserved seats are allocated to the political parties on the basis of the number of their lawmakers elected on the general seats For their allocation the ECP had already received the priority list of candidates from the parties before the Feb 8 polls The situation this year is different from the previous elections as the largest group of lawmakers are independents who cannot have the reserved seats There are a total of 346 reserved seats for women –60 in the NA and 66 29 26 and 11 in the provincial legislatures of Punjab Sindh K-P and Balochistan Similarly there are 10 reserved seats for minorities in the lower house Besides, there are eight, nine and three reserved seats for minorities in the Punjab Sindh, and Balochistan assemblies
ECP
to
to