Epaper_24-03-01 LHR

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PTI’s Babar Saleem

Swati takes oath as KP Assembly Speaker

Gulzar Shehryar Afridi and other leaders were in attendance from the PTI

The first session of the 16th NA commenced with the recitation of the Holy Quran and the national anthem, following which Speaker Raja Pervez Ashraf administered the oath to the

elected members A total of 302 newly-elected

bers took oath in the

session the NA

said After the oaths were administered, Nawaz Sharif, Shehbaz Sharif, Sardar Ayaz Sadiq, Bilawal Bhutto, Maulana Fazlur Rehman and others signed on the register marking lawmakers’ attendance on the Role of Sign of the members per Rule No 7 of the Rules and Procedure of National Assembly 2007

After signing, Nawaz went to the visitors’ gallery to wave at his daughter, incumbent Punjab CM Maryam Nawaz He then left the assembly hall followed shortly by Maryam and Shehbaz Following the departure of the PML-N supremo the sloganeering largely died down Thursday s session also witnessed the return of PTI to the Parliament after the party resigned en masse, the only difference is that PTI lawmakers have en-

tered the legislature this time around under the banner of the Sunni Itehad Council (SIC)

for National Assembly Speaker and Deputy Speaker slots however he refused to take part in the formation of government They said that the delegation will hold another meeting with Maulana Fazl in the Parliament House as the latter will soon leave for Sindh to head the protests against the alleged rigging On Wednesday a high-level delegation of PML-N PPP and other allies met Maulana Fazlur Rehman ahead of the inaugural session of the National Assembly PML-N s Ayaz Sadiq Saad Rafique and Ahsan Iqbal PPP s Syed Khursheed Shah, Syed Yusuf Raza Gilani, Syed Naveed Qamar, Abdul Aleem Khan of the Istehkam-e-Paksitan Party (IPP) and Khalid Magsi of Balochistan Awami Party (BAP) were among the leaders who reached Fazalur Rehman’s residence PML-N leader Ayaz Sadiq who has also become Speaker National Assembly said that they had a very good conversation with the JUI-F chief We met Maulana Sahib and requested for a vote, Ayaz Sadiq added However, Maulana Fazalur Rehman expressed some concerns asserting to address the same in the coming days It is important to mention here that the PML-N nominated Sardar Ayaz Sadiq for the National Assembly (NA) speaker s slot

Israel forces shoot 104 Palestinians dead at aid point in Gaza

blocking access

crushed by the trucks themselves after “aid trucks were overwhelmed by people trying to loot”

The Gaza City shooting adds to a Palestinian death toll from the war which the health ministry earlier Thursday said had topped 30,000

It came after mediators said a truce deal between Israel and Hamas militants could be just days away In a reflection of increased concern at the White House President Joe Biden s administration is considering airdropping aid into Gaza, US news site Axios reported early Thursday

The war began on October 7 with an unprecedented Hamas attack on southern Israel

that resulted in the deaths of around 1,160 people mostly civilians Israeli figures show Militants also took about 250 hostages 130 of whom remain in Gaza including 31 presumed dead according to Israel Israel vowed to destroy Hamas, and its retaliatory military campaign has killed 30,035 people, according to the health ministry in Gaza Israel’s military says 242 soldiers have died in Gaza since ground operations began in late October

New Zealand on Thursday became one of the latest Western countries to designate Hamas as a “terrorist” entity, saying the October 7 attack shattered the notion that the movement’s political and military wings are separate Mediators from Egypt Qatar and the United States have been seeking a sixweek pause in the war Negotiators hope a truce can begin by around March 10 or 11 when the Muslim holy month of Ramadan begins depending

on the lunar calendar The proposals reportedly include the release of some Israeli hostages held in Gaza by militants in exchange for hundreds of Palestinians held in Israeli prisons

Short of the complete withdrawal Hamas has called for, a source from the group said the deal might see Israeli forces leave “cities and populated areas” allowing the return of some displaced Palestinians and humanitarian relief Biden is pushing all of us to try to get this agreement over the finish line , Secretary of State Antony Blinken said ‘Extremely critical’ The United Nations humanitarian agency OCHA described the food security situation as extremely critical across Gaza particularly in northern Gaza According to the World Food Programme (WFP), no humanitarian group had been able to deliver aid to the north for more than a month The agency accused Israel of

“If nothing changes a famine is imminent in northern Gaza WFP s deputy executive director Carl Skau said Israeli officials have denied blocking supplies

With aid flows on the ground limited, more is coming in by parachute

Neighbouring Jordan said it had on Thursday again air-dropped food and other relief Jordan’s army said the drop over northern Gaza came in collaboration with Bahrain and Oman

The United Arab Emirates official news agency WAM said the Gulf country had begun a joint operation with Egypt to drop food and medical aid

The operation would last several weeks it said

In the south nearly 1 5 million people trying to flee the fighting are now packed into Rafah city, also short of food, as Israel threatens to send in troops against Hamas fighters there

In par tnership with Profit Fr i d a y, 1 M a r c h , 2 0 2 4 I 1 9 S h a ’ b a n , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 2 4 3 I 8 Pa g e s I La h o r e E d i t i o n
TA F F R E P O R T
ISLAMABAD S
W LY elected members of the National Assembly
oath on
in the inaugural session amid ruckus and slogans in favour of PTI founder Imran Khan and his party
maiden session witnessed the presence of PML-N supremo
Shehbaz Sharif
others
the session
N E
took
Thursday
The
Nawaz Sharif,
Maryam Nawaz Ishaq Dar and
at
with Sardar Latif Khosa Sher Afzal Marwat Shandana
newly
mem-
inaugural
secretariat
desk The House echoed with slogans in favour of PTI and party founder Imran Khan, with lawmakers wearing Imran s face mask and carrying his posters The lawmakers, sitting on the treasury benches were seen short of posters or play cards in favour of Nawaz Sharif and the PML-N and had no other option but to keep shouting slogans on top of their voice The elections for speaker and deputy speaker will be held on March 1, incumbent NA Speaker Raja Pervez Ashraf announced and added that they would be held using the secret ballot method PTI s candidate for the premiership Omar Ayub, said that the house is incomplete, adding that even people nominated on reserve seats could not come to take oath during the inaugural session today In response to Ayub and PTI Chairman Barrister Gohar s arguments that the SIC was deprived of the reserve seats PML-N s Khawaja Asif said that the SIC has not even submitted the list for reserve seats to the ECP, implying how could they be given seats then New-eLected MeMbers sworN IN aMId rUckUs at Na INaUgUraL sessIoN PML-N’s Achakzai, PPP ’s Gola elec ted Balochistan A ssembly speaker, deputy speaker QUETTA S TA F F R E P O R T Pakistan Muslim League-Nawaz (PML-N) MPA Abdul Khaliq Achakzai and Pakistan Peoples Party (PPP) MPA Ghazala Gola have been elected unopposed as the Balochistan Assembly speaker and deputy speaker respectively on Thursday Balochistan Assembly Secretary Tahir Shah Kakar made this announcement after no opponent came forward against the two candidates one day after they were sworn-in as the provincial assembly members Achakzai and Gola are scheduled to take oath at 3pm Thursday (today) afternoon he added J U I - F t o s t a y a w a y f r o m g o v t f o r m a t i o n ’ , F a z l c o n v e y s t o P P P, P M L - N ISLAMABAD S TA F F R E P O R T Jamiat Ulema-e-Islam-Fazl (JUI-F) Chief Maulana Fazlur Rehman on Thursday conveyed to his erstwhile PDM allies – the PML-N and PPP – that his party will not take part in the formation of the government Maulana Fazl has told leaders of PML-N PPP and other allies in the centre that his party will not take part in the formation of the government sources privy to the development informed on Thursday Revealing the inside story of Fazlur Rehman s meeting with PPP, PML-N, the sources said that the delegation insisted on the JUI-F chief ’s support
GAZA A F P Israeli forces shot dead 104 people when a crowd rushed towards aid trucks on Thursday the health ministry in Gaza said in one of the worst single incidents of a nearly fivemonth war More than 750 people were also hurt in the incident the ministry said It came after aid agencies had intensified warnings over Gaza s humanitarian situation with famine threatening particularly in Gaza s north Ministry spokesman Ashraf al-Qudra said hundreds were killed and wounded from bullets of the occupation forces that targeted a gathering of citizens” at Gaza City’s Nabulsi roundabout He called it a massacre A witness told AFP that thousands of people had just stormed the trucks which were near army tanks The soldiers fired at the crowd as people came too close to the tanks,” the witness said, declining to be named for safety reasons Israeli sources confirmed that troops opened fire at Palestinians rushing toward aid trucks in Gaza with one saying soldiers thought they posed a threat to troops A spokesman for Israeli Prime Minister Benjamin Netanyahu s office, however, said many of the dead were
Despite the unspoken ban on mentioning Imran Khan s name and displaying his photo or video, this is the first time the party has had the chance to take the PTI founder’s name and show his photos on television screens; perhaps a small reward for returning to the Parliament Aamir Dogar who served as PTI s chief whip during the previous stint, not only signed on the register but also shouted slogans in favour of Imran and PTI while standing near the NA speaker ’s
C O N T I N U E D O N PA G E 03 C O N T I N U E D O N PA G E 03
PESHAWAR S TA F F R E P O R T Pakistan Tehreek-e-Insaf ’s (PTI) Babar Saleem Swati on Thursday took oath as the speaker of Khyber Pakhtunkhwa Assembly The Khyber Pakhtunkhwa Assembly session for Speaker and Deputy Speaker election was presided over by the outgoing Speaker Mushtaq Ghani Outgoing Speaker Mushtaq Ghani administered him oath after PTI s nominated candidate Babar Saleem Swati an MPA from Mansehra, was elected as speaker of KP assembly Saleem Swati bagged 89 votes whereas Peoples Party’s Ihsan Ullah Khan managed to secure 17 votes Moreover voting for the deputy speaker of KP assembly is underway PTI woman member from Chitral Surayya Bibi is contesting for the deputy speaker office against PTIP member Arbab Waseem C O N T I N U E D O N PA G E 03
C O N T I N U E D O N PA G E 03 g R A J A P E R V E Z A S H R A F A N N O U N C E S E L E C T I O N F O R S P E A K E R, D E P U T Y S P E A K E R TO B E H E L D TO D AY g N A W A Z, S H E H B A Z, B I L A W A L, J U I - F C H I E F, O M A R AY U B, A N D B A R R I S T E R G O H A R A M O N G 3 0 2 M E M B E R S TA K E O AT H

MQM-P didn’t seek any cabinet positions, claims Siddiqui

F iday 1 Ma ch 2024 | LAHORe 02 newS SRINAGAR S ta f f R e p o R t
O N T H S a f t e r t h e H i g h C o u r t i n I n d i a n i l l e g a l l y o c c u p i e d J a m m u a n d K a s h m i r q u a s h e d h i s d e t e n t i o n u n d e r t h e b l a c k l a w P u b l i c S a f e t y A c t K a s h m i r i j o u r n a l i s t A s i f S u l t a n h a s b e e n f i n a l l y r e l e a s e d a f t e r s p e n d i n g o v e r f i v e y e a r s i n u n l a w f u l i m p r i s o n m e n t According to Kashmir Media Service, Asif Sultan was imprisoned in Ambedkar N a g a r d i s t r i c t j a i l i n U t t a r P r a d e s h T h e I I O J K H i g h C o u r t q u a s h e d h i s P S A o n D e c e m b e r 11 l a s t y e a r s t a t i n g t h e d e t a i n i n g a u t h o r i t i e s d i d n o t f o l l o w t h e p r o c e d u r a l r e q u i r e m e n t s i n l e t t e r a n d spirit” However, Asif Sultan continued to r e m a i n i n j a i l f o r n e a r l y t h r e e m o n t h s t o g e t c l e a r a n c e s f r o m t h e I I O J K a d m i n i s t r a t i o n a n d f i n a l l y w a l k e d o u t o f jail on Wednesday Asif Sultan was arrested by Indian police in 2018 during a nocturnal raid from his home in the Batamaloo area of Srinagar on charges of ‘harboring militants’ and subsequently booked under the draconian Unlawful Activities (Prevention) Act (UAPA) After prolonged appeals for bail the IIOJK High Court granted him bail in 2021, but the New Delhi-installed territory s administration booked him under PSA and shifted him to Ambedkar Nagar district jail When Asif Sultan was arrested he was w o r k i n g w i t h t h e m o n t h l y m a g a z i n e ‘ K a s h m i r N a r r a t o r ’ n o w c l o s e d a n d wrote a news story on the martyred youth leader Burhan Wani that became a trigger for his arrest Asif was jailed when his daughter was six months old His father Muhammad Sultan was quoted by media that his daughter, who is now six years old doesn’t recognise his father Several international organizations including the Committee to Protect Journalists (CPJ) had been demanding the immediate release of Aasif Sultan In 2019, he received the annual John Aubuchon Press Freedom Award by National Press Club of America K ASHMIRI JOURNALIST ASIF SULTAN RELEASED AFTER OVER 5 YEARS OF ILLEGAL DETENTION PR OFIT N e w S D e S k BankIslami Pakistan Limited has reported a significant increase in its profit after tax marking a 137 percent rise to Rs10 61 billion from Rs4 47 billion in the previous year This growth is attributed to the robust expansion in its core banking operations as well as an increase in nonfunded income which collectively propelled the bank s earnings per share from Rs4 04 in 2022 to Rs9 57 The bank has also declared an interim cash dividend of Re1 per share for the year ended December 31, 2023, supplementing an earlier dividend of Rs1 75 per share This financial upturn is further evidenced by a 100 4 percent jump in profit/return earned reaching Rs92 76 billion in 2023 up from Rs46 35 billion in the preceding year However, the bank did experience an 8 percent decrease in income to Rs3 31 billion, alongside a 24 4 percent increase in fee and commission income to Rs1 8 billion reflecting its diversified service portfolio and growing customer base BankIslami leads with 137% surge in full-year profit ISLAMABAD S ta f f R e p o R t Muttahida Qaumi Movement-Pakistan (MQM-P) leader Khalid Maqbool Siddiqui clarified on Thursday that decisions regarding cabinet positions had been finalized, claiming the party had not demanded any specific roles Addressing the media ahead of the National Assembly session Siddiqui emphasized that the MQM-P s focus was not on governorship or ministries, rather on delivering benefits of the democracy to the people The return of the MQM signifies a genuine mandate and despite expecting more seats the party is prepared to voice its concerns about electoral irregularities on appropriate platforms he added Furthermore, Siddiqui underscored the persistent nature of the issues, stating that the circumstances today mirror those of 75 years ago He highlighted the significance of a democracy that truly benefitted the public highlighting the imperative to grant rights to Pakistan s 230 million citizens Previously the MQM-P expected to hold a final round of negotiations with the Pakistan Muslim League-Nawaz (PML-N) before taking its decision about joining the coalition government party sources According to sources privy to the discussion in the party s coordination committee meeting the MQM-P wanted to allow Sindh Governor Kamran Tessori to continue on the post, otherwise, according to some suggestions, the party would prefer to sit on the opposition benches In various media interviews MQM-P Senior Deputy Convener Dr Farooq Sattar and newly-elected National Assembly member (MNA) Mustafa Kamal both expressed their optimism about the ongoing coalition talks with the PML-N hoping to reach consensus on all issues very soon Kamran Tessori is the MQM s choice for the governor s post Dr Sattar told a private TV channel in an interview Regarding the ongoing discussions with the PML-N on forming the coalition, he expressed his optimism about reaching a consensus soon Despite the challenges in joining the government Sattar affirmed the MQMP s dedication to political stability and national progress, pledging cooperation wherever necessary He highlighted the PML-N’s recognition of the MQM’s pivotal role in parliamentary politics and its status as an important ally The cabinet will come after that [the oath-taking by the elected members] he said “The procedure is being processed and both the parties are moving in the right direction There is no deadlock Kamal stated
M
PR OFIT N e w S D e S k The Pakistan Stock Exchange (PSX) experienced a bullish trend on Thursday with the benchmark KSE100 index surging by over 800 points during intraday trading D a t a f r o m t h e P S X w e b s i t e i n d i c a t e s t h a t t h e m a r k e t o p e n e d on a positive note, driven primarily by clarity on the political front and p o s i t i v e e c o n o m i c d e v e l o p m e n t s encouraging investors to purchase shares The benchmark index reached an intraday high of 64,801 63 points By 2:30 pm, the KSE-100 index reached a level of 64 760 65 marking an increase of 1 057 21 points or 1 66% The market finally closed at the 64,578 52 level, up by 875 08 points or 1 37% from the previous close During intraday trading, the market saw widespread buying, with index-heavy stocks such as OGDC PPL and SNGPL showing gains In political developments, the 16th National Assembly s inaugural session took place, during which the elected National Assembly members were sworn in In economic news China has agreed to extend a $2 billion loan to Pakistan, a move confirmed by the caretaker Finance Minister, Shamshad Akhtar, in response to a media inquiry
Pakistan’s low price to impact Indian basmati expor ts PR OFIT M o N i to R i N g D e S k India s basmati rice exports are expected to drop in 2024 after almost reaching a record high in 2023 as Pakistan offers grain at lower prices following increased production Pakistan and India major exporters of aromatic longgrain rice cater to markets in Iran Iraq Yemen Saudi Arabia, the UAE, and the USA India s basmati exports grew by 11 5% to 4 9 million metric tons in 2023, generating a record $5 4 billion in revenue, thanks to higher prices and reduced competition from Pakistan However Pakistan s rebound in production and competitive pricing coupled with the depreciation of the Pakistani rupee are making its rice exports more appealing internationally Challenges for Indian exporters include a 10% rise in domestic basmati production, leading to lower prices and a significant drop in purchases by Iran the largest buyer Although exports recovered from a temporary dip following the introduction of a minimum export price (MEP) by the Indian government, increased freight costs and shipping disruptions are expected to further impact exports negatively With buyers holding ample stocks and cautious about rising shipping costs India’s basmati rice exports face a challenging period ahead as competition with Pakistan intensifies SBP sees $63mn dip in foreign reser ves due to debt repayment PR OFIT N e w S D e S k The State Bank of Pakistan (SBP) reported a decrease in its foreign reserves by $63 million to $7 94 billion due to debt repayments for the week ending February 23 2024 According to a press release the total liquid foreign reserves held by the country amounted to $13 038 billion Of the total $13 038 billion reserves the SBP holds $7 94 billion, while commercial banks in the country hold the remaining $5 08 billion The SBP has been striving to maintain its foreign exchange reserves above $8 billion to ensure exchange rate stability However several repayments are in queue for debt servicing profits outflows and other dues SBP mops up Rs753.3b from market through OMO PR OFIT N e w S D e S k The State Bank of Pakistan (SBP) Thursday carried out an Open Market Operation (OMO) to reduce the excess money supply in the banking system This was the first time in more than five months that the SBP withdrew Rs 753 3 billion from the market through an OMO The central bank sold repurchase agreements (repo) for one day at an interest rate of 21 93% which was higher than the previous OMO rate of 21 75% The amount accepted was less than the amount offered by the banks, which was Rs 780 8 billion This indicated that the SBP was selective in choosing the quotes that matched its target interest rate The SBP received 17 quotes from commercial banks ranging from 21 70% to 21 97% and accepted 12 quotes totaling Rs 753 3 billion The SBP conducts OMOs regularly to manage the liquidity conditions in the market and to align the overnight policy rate with the target rate g T h i s g r o w t h i s a t t r i b u t e d t o r o b u s t e x p a n s i o n i n i t s c o r e b a n k i n g o p e r a t i o n s a n d a n i n c r e a s e i n n o n - f u n d e d i n c o m e g B e n c h m a r k i n d e x r e a c h e s a n i n t r a d a y h i g h o f 6 4 , 8 0 1 6 3 p o i n t s PR OFIT N e w S D e S k The State Bank of Pakistan (SBP) has announced revisions to the deadlines by which banks must submit their floating exchange rate data, aiming for more timely dissemination of information Under the new directive, authorized dealers are now required to report their daily exchange rates to the Core Statistics Department (CSD) of the SBP more swiftly than before Previously banks had until the 3rd of each month to submit the prior month s data through the Data Acquisition Portal (DAP) However, starting from February 2024 the submission deadline will be the 2nd working day of the following month This timeline is set to tighten further from January 2025, when submissions will be due on the 1st working day of the month The SBP emphasizes the importance of accuracy and compliance in the reporting process Banks are instructed to thoroughly verify their data before submission to ensure it meets the SBP’s guidelines The central bank has also issued a warning that any instances of erroneous or delayed reporting will be subject to punitive measures under the relevant legal provisions This move is part of the SBP s efforts to enhance the efficiency and reliability of financial data reporting within the country S B P t i g hte n s exc h a n g e rate re p o r t i n g d e a d l i n e s fo r b a n k s g To t a l l i q u i d f o r e i g n r e s e r v e s h e l d b y c o u n t r y s t a n d a t $ 1 3 0 3 8 b g C e n t r a l b a n k c a u t i o n s t h a t a n y i n a c c u r a c i e s o r d e l a y s i n r e p o r t i n g w i l l i n c u r p e n a l t i e s u n d e r a p p l i c a b l e l a w s Detained journalist Asad Toor on hunger strike for 36 hours: Law yer ISLAMABAD S ta f f R e p o R t Detained journalist and Vloggor Asad Toor has been on hunger strike since his arrest by the Federal Investigation Agency (FIA) over charges of social media campaign against the top judiciary, his lawyer Hadi Ali Chatta said on Thursday “Toor has not eaten anything for the past 36 hours ” his counsel told the media about Toor ’s health and his meeting with his mother who was allowed to see him on court s orders at the FIA office The FIA also called rescue personnel after Toor fell sick last night, he added Hadi said that during custody, the FIA didn t interrogate Toor about the anti-judiciary campaign, adding he is being asked about vlogs he did about other people Iman Mazari Toor ’s other counsel shared that the investigation done so far has nothing to do with the campaign against apex court s judges He is being pressurised to reveal his sources and social media account passwords, which Asad Toor has denied On Tuesday, Judicial Magistrate Islamabad Muhammad Shabbir sent the vlogger on a five-day physical and directed the FIA to produce the accused again on March 3 2024 The FIA produced Asad Toor before Magistrate Mohammad Shabbir and sought his remand During the hearing Toor told the magistrate, that he was a journalist and could not give his mobile phone He said he had appeared before the FIA twice and his lawyer told him that he had received the notice in hand on February 24 The vlogger said that they moved the high court against the call-up notice and reached the FIA office with the high court s order on February 26 to inquire about the FIR and the allegations levelled against him According to the FIR against Toor, the vlogger allegedly ran a malicious campaign against the judiciary on social media platforms X and YouTube
Political clarit y propels PSX upwards by over 800 points

CM’s clean Punjab campaign launched, 4 LWMC officials suspended

members sworn in amid ruckus at NA inaugural session CONTINUED

PTI’s Babar Saleem

Swati takes oath as KP Assembly Speaker

l a w m a k e r s a l s o f a c e d d i ff i c u l t y i n e n t e r i n g t h e A s s e m b l y h a l l S p e a k e r M u s h t a q G h a n i a d m i n i s t e r e d o a t h s t o t h e n e w l y e l e c t e d p r o v i n c i a l l e g i s l a t o r s I t i s p e r t i n e n t t o m e n t i o n h e r e t h a t P T I - b a c k e d S u n n i I t t e h a d C o u n c i l h a s b e e n t h e l a rg e s t p a r l i a m e n t a r y b l o c k i n K P A s s e m b l y w i t h 9 1 m e m b e r s w h i l e t h e J U I h a v e 0 7 P M L - N 0 5 P P P - 0 4 A N P a n d P T I - P h a v e o n e m e m b e r e a c h i n t h e h o u s e

a fresh advice for convening the assembly session According to the sources at the very last moment Alvi signed the second advice sent by the caretaker premier and approved the convening of the first session of the newly elected lower house of parliament Despite his reservations the president fulfilled his constitutional obligation by calling a session of the NA to put an end to the ongoing speculations and debates Earlier the NA Secretariat had convened the inaugural session of the lower house of Parliament at 10am today In a notification issued by NA Secretary Tahir Hussain, it was disclosed that Caretaker Prime Minister Anwaarul Haq Kakar approved the session under Article 91(2) of the Constitution President Alvi did not sign the first summary as he awaited the final decision on the reserve seats matter PML-N stalwart and Senator Ishaq Dar levelled serious allegations against Alvi, accusing him of attempting to once again violate the Constitution

PML-N’s Achakzai, PPP’s Gola elected Balochistan Assembly speaker, deput y speaker

CONTINUED FROM PAGE 01 T h e y w e r e n o m i n a t e d f o r t h e p o s t s o f s p e a k e r a n d d e p u t y s p e a k e r b y t h e i r r e s p e c t i v e p a r t i e s T h e n e w l y s w o r n - i n a s s e m b l y w a s s c h e d u l e d t o v o t e f o r t h e e l e c t i o n o f t h e h o u s e s s p e a k e r a n d d e p u t y s p e a k e r t o d a y b u t t h e y w e r e a b l e t o s e c u r e t h e p o s t w i t h o u t t a k i n g a v o t e s i n c e n o o t h e r c a n d i d a t e s u b m i t t e d t h e i r p a p e r s a g a i n s t t h e m b y t h e 1 2 p m d e a d l i n e s e t f o r t h e s u b m i s s i o n o f p a p e r s A t o t a l o f 5 7 n e w l ye l e c t e d l a w m a k e r s w e r e a d m i n i s t e r e d o a t h o n We d n e s d a y b y Z a m r a k K h a n A c h a k z a i w h o w a s a p p o i n t e d t h e p r e s i d i n g o f f i c e r f o r t h e m a i d e n s e s s i o n o f t h e p r o v i n c i a l l e g i s l a t i v e A s m a n y a s 5 1 m e m b e r s t o o k o a t h , i n c l u d i n g t h e e l e c t s f r o m t h e P P P, P M L - N , J a m i a t U l e m a - e - I s l a m - F a z l , B a l o c h i s t a n Aw a m i P a r t y ( B A P ) a n d o t h e r s L a t e r t h e a s s e m b l y s e s s i o n w a s a d j o u r n e d t i l l T h u r s d a y 3 p m Wi t h a d i v i d e d p r o v i n c i a l a s s e m b l y w h e r e n o p o l i t i c a l p a r t y m a n a g e d t o s e c u r e a s i m p l e m a j o r i t y i n t h e F e b r u a r y 8 p o l l s , t h e P P P a n d t h e P M L - N m i g h t j o i n h a n d s t o f o r m a g o v e r n m e n t i n t h e p r o v i n c e a s t h e y a l r e a d y h a v e a g r e e d t o f o r m a c o a l i t i o n g o v e r n m e n t i n t h e C e n t r e

r H a i d e r i w i l l t a k e o a t h i n t h e N a t i o n a l A s s e m b l y a s m e m b e r E a r l i e r S e n a t o r s S a r f r a z B u g t i a n d P r i n c e U m a r A h m e d z a i r e s i g n e d f r o m t h e S e n a t e a f t e r w i n n i n g t h e B a l o c h i s t a n A s s e m b l y c o n s t i t u e n c i e s i n t h e g e n e r a l e l e c t i o n s h e l d o n F e b 8 F o r m e r c a r e t a k e r F e d e r a l I n t e r i o r M i n i s t e r B u g t i s u b m i t t e d h i s r e s i g n a t i o n t o S e n a t e C h a i r m a n S a d i q S a n j r a n i w h i c h h e a c c e p t e d S i m i l a r l y, B a l o c h i s t a n Aw a m i P a r t y S e n a t o r P r i n c e U m a r A h m e d z a i a l s o r e s i g n e d f r o m

ISLAMABAD S ta f f R e p o R t T HE process of redeployment of former Prime Minister Shehbaz Sharif s bureaucratic team in the Prime Minister ’s Office has started through appointment and transfer in the federal bureaucracy Before Shehbaz Sharif becomes the Prime Minister an important appointment has been made in the Prime Minister s Office and Sameer Ahmed Syed has been transferred from the Punjab Government to Federal Government as Joint Secretary in the Prime Minister ’s Office Sameer Ahmad Syed was appointed as Principal Staff Officer of Prime Minister Shehbaz Sharif and Secretary to Caretaker Chief Minister Punjab Mohsin Naqvi, he will also perform the duties of Principal Staff Officer (PSO) to Prime Minister Meanwhile, Grade 22 Officer Pervez Ahmed Junejo and Grade 20 Officer Ayesha Zareen Siddique awaiting appointment in Establishment Division have been made Officer on Special Duty (OSD) Establishment Division Additionally, OSD Muhammad Saleem Deputy Secretary Ministry of Overseas Pakistanis has been appointed while the services of Deputy Secretary Ministry of Religious Affairs Muhammad Razi National Disaster Management Authority (NDMA) and Deputy Secretary Finance Division Military Finance Wing Kashif Rasheed have been returned to Auditor General of Pakistan Deputy Secretary Overseas Pakistanis Division Abdul Wahid Thaheem has been instructed to report to the Establishment Division 03 newS Friday 1 March 2024 | LAHORe SHEHBA Z SHARIF’S BUREAUCRACY TEAM BACK IN PM OFFICE KARACHI S ta f f R e p o R t Sindh s Chief Minister Murad Ali Shah on Thursday declared rain emergency in the province after a weather forecast of a heavy rainfall in the province Murad Ali Shah presided over a meeting over the weather emergency and directed for high alert at all local bodies administration and hospitals The meeting also declared half-day duty at all government and private institutions in Karachi tomorrow (Friday) due to likely rain situation “The people are requested to avoid going unnecessarily of their homes Shah said Rainfall is expected in Karachi by 2:00pm he said There are three to four spells of rainfall in the city tomorrow, he said The rainwater is expected to enter in Sindh from Khuzdar mountain range,” Shah said He directed Commissioner Larkana to take all precautionary measures to tackle the situation “We have to keep our preparations complete with regard to rainfall warning ” chief minister said Director General Disaster Management Authority (PDMA) Salman Shah briefed the chief minister Shahrah-e-Faisal in Karachi comes under water pressure in rainfall, PDMA official said Chief Minister also directed the DIG Traffic to ensure better traffic arrangements in city The Met Office has forecast heavy rainfall across most districts of Sindh with wind or thunderstorm in Karachi Sukkur Jacobabad Kashmore Larkana Dadu Shaheed Benazirabad Karachi Hyderabad Thatta Badin Khairpur and Mirpurkhas on 29th Feb and 01st March Isolated hailstorm is also likely during the period Sindh declares rain emergenc y amid heav y rain forecast JUI-F will stay away from gov t formation’, Fazl conveys to PPP, PML-N CONTINUED FROM PAGE 01 A b d u l G h a f o o r H a i d e r i q u i t s S e n a t e t o b e c o m e M N A : M e a n w h i l e J U I - F G e n e r a l S e c r e t a r y M a u l a n a A b d u l G h a f o o r H a i d e r i r e s i g n e d f r o m t h e S e n a t e a f t e r w i n n i n g t h e N a t i o n a l A s s e m b l y s e a t i n t h e g e n e r a l e l e c t i o n s h e l d o n F e b 8 T h e J U I - F l e a d e r s u b m i t t e d h i s r e s i g n a t i o n t o S e n a t e C h a i r m a n S a d i q S a n j r a n i w h i c h h e a c c e p t e d M a u l a n a A b d u l G h a f o o
t h e S e n a t e a f t e r w i n n i n g t h e p r o v i n c i a l a s s e m b l y s e a t RAWALPINDI S ta f f R e p o R t Punjab Chief Minister (CM) Maryam Nawaz Sharif has directed the authorities concerned to complete the Rawalpindi Ring Road project by December During visit to the site of project here on Thursday, she was briefed by the NESPAK and FWO officials regarding progress of Rawalpindi Ring Road Project at Tehraiya site The CM was briefed that the project started in September 2023 and all the construction work would be completed by February 2025 All the structures on the way of 38 3 kms long Ring Road Project had been removed for speedy construction work while removal of the utility services in the right of the way was underway 24 percent work on Rawalpindi Ring Road project has been completed Five interchanges, 11 overpasses, bridges on 2 rivers, 6 canals and a railway bridge would be constructed under the project while 15 subways and 53 small bridges would be constructed on the Rawalpindi Ring Road A rest area would be constructed on the Ring Road Maryam Nawaz said that the project was indispensable for ease of transportation of the citizens adding, industrial zones would also be built on the project She said that the project would be a game changer for Rawalpindi adding creation of the industrial zones would provide employment opportunities to the local people Two years were fixed for the completion of the project and all-out efforts would be made to complete it before the deadline, the CM said The completion of the most important public welfare project should not be delayed she directed The work on the ring road project was going on day and night and it would be completed before the stipulated time frame, Maryam Nawaz informed Swift construction work would be ensured on Ring Road Project and there would be no compromise on the quality she added She instructed that Rawalpindi Ring Road interchanges should be named after the respective villages Former Senator Pervaiz Rasheed, Members of Assembly Marriyum Aurangzeb, Uzmi Bukhari Sania Ashiq Chief Secretary concerned secretaries Commissioner Rawalpindi Division and other officials were also present on the occasion
Mar yam direc ts authorities to complete Rawalpindi Ring Road projec
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the unruly behaviour of the lawmakers from both sides of the aisle, the speaker adjourned the session till 10 am on Friday Security around the Parliament House was increased significantly and authorities closed the routes from Serena Chowk Nadra Chowk and D-Chowk from entering the Red Zone A heavy contingent of police and FC
deployed
the roads, with vehicles undergoing thorough
before entry into the Red Zone PRESIDENT FINALLY SUMMONS NA SESSION In a late-night development on Wednesday President Dr Arif Alvi signed
CM
t by Dec New-elected
Seeing
was
on
checking
LAHORE S ta f f R e p o R t In response to directives from Chief Minister Punjab Maryam Nawaz, the Lahore Waste Management Company (LWMC) initiated special cleaning activities across the city as part of the ‘Suthra Punjab’ [Clean Punjab] campaign besides taking stern action over negligence and suspended four officials LWMC Chief Executive Officer Babar Sahib Din conducted surprise visits to various locations and expressed disappointment over the sanitation standards at Shahdara and took strict action against several officials Zonal Officer Shafaqat, Zonal Officer Malik Mustafa, Supervisor Muhammad Ali, and MVI Naseer Amin faced immediate suspension due to their failure to maintain adequate cleanliness standards Additionally a warning was issued to Town Manager Muazam Butt and Town Manager Saad Talal CEO Babar Sahib Din passed instructions for a 24-hour ultimatum to make Shahdara a zero-waste area He also praised the workers for their efforts in maintaining excellent cleaning standards at Saeed Park He affirmed that the company was committed to ensuring optimal sanitation conditions in both urban and rural regions
BEIJING S ta f f R e p o R t The surge in Pakistan s exports of sports products to China in 2023 is mainly due to the growing demand in China for items such as basketball, football and volleyball And the exports of these three items increased by around 31% in 2023, said Ghulam Qadir Trade and Investment Counsellor at the Pakistani Embassy in Beijing according to Gwadar Pro on Thursday Ghulam Qadir said that this growth trend underscores the quality and competitiveness of Pakistan s sports products in the global market, particularly in the realm of athletic equipment This surge also indicates potential opportunities for further expansion and collaboration between Pakistan and China in the sector “The city of Sialkot, which has a storied history as a hub for sports manufacturing is recognized for supplying official match balls for prestigious global soccer tournaments Pakistani s basketball football and volleyball export to China in 2023 crossed $ 11 93 million whereas last year in the same period (JanuaryDecember) it was only $ 9 13 million Similarly, the exports of the equipment for general physical exercise & gymnastics sports crossed $ 0 83 million The overall sports related products export to China from Pakistan crossed $14 33 million in 2023 he stated KHEWRA S ta f f R e p o R t President Dr Arif Alvi has stressed the need for projecting Pakistani pink salt as a national product in potential global markets after its value addition in line with the international standards Speaking during his visit to the Khewra salt mines on Thursday, he said that a significant amount of foreign exchange can be earned by adding value to the local raw salt and making various products Dr Arif Alvi also emphasized to utilize the modern technology to minimize the loss of salt during the mining process besides adopting atmosphere friendly and responsible mining ways Pakistan had huge reserves of high quality rock salt which was low cost and full of minerals he added On the occasion the president also reviewed the tourist places inside the salt mine President Alvi was briefed on various ongoing projects of the Pakistan Minerals Development Corporation in Khewra He was informed about quality of the salt found in Khewra and various salt ingredients Managing Director of Pakistan Minerals Development Corporation informed the president about various aspects of salt mining from Khewra Salt Mine The president was informed about the ongoing activities for salt mining President Alvi also inaugurated the salt library in the Khewra salt mine and visited the Asthma center He also interacted with the patients undergoing treatment in the Asthuma center in Khewra salt mine He took special interest in the historical background of Khewra Mine and he also wrote his comments in the guest book Pakistan’s spor ts produc ts expor t to C hina surges in 2023 Need to projec t Pakistani pink salt in global markets: President Alvi
CONTINUED FROM PAGE 01 E a r l i e r t h e n e w l y e l e c t e d m e m b e r s o f t h e K h y b e r P a k h t u n k h w a A s s e m b l y t o o k o a t h o f m e m b e r s h i p a m i d r u c k u s c a u s e d b y P a k i s t a n Te h r e e k - e - I n s a f ( P T I ) w o r k e r s i n t h e l e g i s l a t u r e T h e s e s s i o n w a s d e l a y e d f o r m o r e t h a n a n h o u r d u e t o t h e r u c k u s c a u s e d b y P T I w o r k e r s T h e e l e c t e d

N a t i o n a l A s s e m b l y m e e t s

The new Assembly faces multiple challenges

TH E 16th National Assembly elected on February 8, met on Wednesday, in response to a presidential summons that should have been routine, but was not President Arif Alvi had initially refused to sign the Parliamentary Affairs Ministry summary summoning the new National Assembly on the plea that the Election Commission of Pakistan had not yet decided the allocation of women’s seats However, the National Assembly itself had prepared to summon the House nonetheless, and because his refusal would have no effect the President on Wednesday night did the needful Whatever the manner of the summons the problems of the new House remain unaffected though the President’s attitude may be sign of things to come

One of the main problems of the new House will be managing the PTI, which in its Sunni Ittehad Council avatar, is the largest party in the House, and if Thursday s proceedings are anything to go by, will prove vociferous and committed to showing loyalty to party chief Imran Khan It will not be a matter purely of parliamentary niceties, as can be seen by Mr Khan’s letter to the IMF asking it to undertake an audit of the election The new government will have to ensure that the PTI does not attempt to conduct a foreign policy of its own This letter which the IMF said on Wednesday it had not yet received segues into another major concern of the new government the economy At the PML(N) parliamentary party meeting which anointed Ayaz Sadiq for the Speakership, and Mian Shehbaz Sharif for the Prime Ministership, Mian Nawaz Sharif made clear that the economic situation was difficult, and that members should be ready for two years of difficulty The PTI s letter shows that it is aware that the most immediate task of the government will be to negotiate an IMF programme to succeed the present Strand-By Arrangement ending next month However, perhaps the most significant challenge of the new National Assembly is whether it can generate a government which can last out the

Dedicated to the legac y of late Hameed Nizami

Arif Nizami (Late) Founding Editor

M A Niazi Editor Pakistan Today Babar Nizami Editor Profit

TH E process which started with the February 8 elections is reaching its natural conclusion which is the formation of new governments but the process which started with the May attacks has not yet ended, for

Ne

vened and the 2002 election led to a situation where no one had got a majority including the PML(Q) which was the largest party To help it out a PPP (Patriots) Group came into being, and gave it the requisite majority The Patriots also escaped the anti-defection clause of the Constitution, and the recent interpretation, that members would be unseated if they disobeyed the party whip as determined by the parliamentary leader was not applied The PPP Patriots separate existence is officially shown in the National Assembly s records The PPP was the largest party in the post-2008 Assembly, and while initially it came to office as part of a coalition with the PML(N), the latter soon departed and it inducted both the MQM and the PML(Q) to ensure its majority Similarly in 2013 the PML(N) and in 2018 the PTI were the largest parties but it was at least theoretically possible for all the rest to gang up and form the government That, as a matter of fact, is how the PTI was ousted, and the PDM coalition formed That situation seems to have been repeated; as the PTI is the largest party but everyone else is combining against it Just as its government was the first ever to be ousted by a no-confidence vote it is also the first to emerge as the largest party in the National Assembly, but not form the government It seems clear that it has not been forgiven for the May 9 incidents

Imran Khan should learn from the example of Mian Nawaz Sharif Even though his party is back in office, he is not While the PML(N) provides the numbers for a government, Mian Nawaz remains cast out In the same way, it might be remembered, Imran provided the numbers for a government that looked favourably upon the establishment His antipathy is not based on any principle but on the fact that it is not on his side His objection is not to the establishment having a role in politics but to its not favouring him He does not want neutrality, but support To be fair to him, that is how all politicians, including those opposing him, feel One of the problems with present governments is the generational change The provinces are showing not just a new generation but children in place of parents Punjab has Maryam Nawaz for CM She is 50 and she is also the daughter of a former Prime Minister Sindh CM Murad Ali Shah is 61, having first become CM in 2016, when 53 He is the son of a former CM, Abdullah Shah having held the office in 1993 to 1996 duringBenazir Bhutto’s second stint as PM Ali Amin Gandapur named to be CM KP by the PTI is 45 and though the second Gandapur to hold the office is no close relation of Inayatullah Gandapur who is merely a fellow tribesman True, Ali Amin s father was a former provincial minister, but Ali Amin owes his position to his having been steadfast after May 9 The elections threw up a split mandate which could even be called a fractured mandate There have been doubts cast on the results with the PTI claiming it did better than the results said it did However there seem to have been two factors at work First, there is no smoking gun The Commissioner Rawalpindi claimed that the results of his division were falsified, but when the Election Commission of Pakistan probed the matter he resiled from his statement and deposed to the ECP committee that he had made the statement on the prompting of a political party leader who was a proclaimed offender In short the PTI After his statement, nobody was interested in corrob-

of the Punjab and Sindh Assemblies have been elected by what would be a handy majority in Punjab an overwhelming one in Sindh if they are repeated for the CMs The same is expected to happen in Balochistan and the National Assembly The only question there is whether the PPP will vote at all, for it seems firm on its decision to stay out of the government

At the end of the day the decision by Mian Shehbaz to take on the PM s job reflects more confidence in himself than any ambition Mian Nawaz s reluctance to take

have to be businessfriendly, but that does not mean having to act as a lobbyist for the business community

The writer is a member of staff

O u t - o f - t h e - b ox s o l u t i o n s m ay w e l l b e r e q u i r e d , bu t t h a t d o e s n o t m e a n t h a t t h e r e mu s t b e a r e f u s a l t o i m p l e m e n t s o l u t i o n s t h a t h av e l o n g b e e n p ro p o u n d e d T h e r e a r e m a ny t h i n g s w h i c h h av e t o b e d o n e ; a P M L ( N ) g ov e r n m e n t m ay h av e t o b e bu s i n e s s - f r i e n d ly, bu t t h a t d o e s n o t m e a n h av i n g t o a c t a s a l o b by i s t fo r t h e bu s i n e s s c o m mu n i t y

Closing libraries

TLengthy queues

Alien trees

04 Friday 1 March 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
fivetenure of the House Houses now no longer dissolve more than a couple of days early but PMs have been changed around the three-year mark in each of the last three Houses, in two of them without the ruling party being changed It is to be seen whether the House witnesses the same pattern
A L L educational institutions and libraries remained closed from Feb 6 to 12 in connection with the general elections The closure of libraries left many students, especially those preparing for competitive examinations, without access to essential resources I was diligently preparing for my annual exams, but the closure of libraries disrupted the study routine The environment at home or elsewhere was not conducive to focussed studying making it nearly impossible to proceed with my preparations The relevant authorities should think twice before taking such decisions as they impact the academic pursuits of students ASIM BALOCH HUB
M Y recent visit to an office of the National Database and Registration Authority (Nadra) left me taken aback by an unbelievably lengthy queue Fatigue set in long before I could even reach the counter Interestingly this Nadra office is situated in Islamabad the federal capital Despite the abundance of managerial staff only 2-3 of the counters were operational The lack of efficiency and the utter absence of a streamlined process were conspicuous, making the entire experience way more cumbersome than necessary It raises questions about the organisation s commitment to service quality and delivery The Nadra management needs to rethink its approach and make things more straightforward and less daunting for the people in order to save their time SHAH HASSAN ISLAMABAD
W H I L E it is good to read about Karachi s beautification project that intends to plant many fully grown date trees on Sharea Faisal However, I am concerned about the consequences of planting an alien tree species in the climate of Karachi, as was seen in the case of conocarpus species One wonders how such an alien tree species can take roots in an alien climate A better option would be to plant trees that are endemic and adapted to the climate of Karachi such as coconuts neem and banyan trees TUFAIL ALI ZUBEDI KARACHI Lung cancer PA K I S TA N has a high prevalence of lung cancer, one of the most serious respiratory disorders Providing an accurate figure for lung cancer mortality rate is challenging due to the absence of a valid cancer registry in the country It’s crucial to acknowledge that lung cancer remains a major health concern and the leading cause of cancer death with an estimated 18% increase in deaths in 2020 according to the International Agency for Cancer s Global Cancer 2020 estimate The tumour, which replaces lung tissue due to uncontrolled cell division, also blocks air passageways in lung cancer, leading to a blockage of the respiratory passage and a reduction in air supply to the lungs Smoking and exposure to polluted air are the primary causes of lung cancer with smoke containing over 4000 chemicals It is estimated that smoking causes 90% of lung cancer cases Netflix to release documentary on Pakistan India Cricket rivalry Addressing and controlling the burden of lung cancer requires government intervention through various policies, such as promoting physical health Legislation is essential to tackle the global and local burden of cancer SHAYHAQ CHAKAR KEELKOORI 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
H E discourse surrounding green finance has gained significant traction worldwide as nations grapple with environmental challenges Pakistan, with its diverse ecosystems and burgeoning economy, stands at a pivotal juncture where green finance could play a transformative role in shaping its future Green finance encompasses a spectrum of approaches each with its own set of assumptions and implications Understanding these nuances is essential for policymakers and financial stakeholders as they chart the course towards sustainable development At the forefront of green finance discourse are the principles of neoliberalism Neoliberal green finance operates under the belief that market mechanisms, driven by private enterprise, hold the key to addressing environmental concerns Initiatives such as the introduction of green bonds and the establishment of green investment funds in Pakistan have demonstrated the potential of private capital to fund sustainable projects However the challenge lies in ensuring that these initiatives prioritize environmental impact over profit motives Market-making neoliberal green finance seeks to address the limitations of voluntary measures by advocating for binding regulations and increased transparency Pakistan can draw inspiration from global initiatives such as the European Union s taxonomy to enhance transparency in green investments and foster investor confidence Standard neoliberal green finance involves market corrections through taxation or subsidies to incentivize green investments For instance Pakistan could explore the implementation of carbon pricing mechanisms to steer its economy towards a low-carbon future Beyond the neoliberal paradigm lie reformist and transformative-progressive approaches to green finance Reformist strategies advocate government intervention and regulation to steer financial markets towards sustainability Pakistan can take cues from countries like China, where stringent environmental regulations have catalyzed investments in renewable energy and clean technologies In contrast, transformative-progressive green finance calls for a fundamental restructuring of the economic system Rooted in ecological economics and political ecology this approach challenges the inherent contradictions of capitalism and advocates a more equitable distribution of wealth and resources Pakistan can explore innovative policies such as public banks and community-driven investment initiatives to foster inclusive growth Embracing green finance offers Pakistan a pathway towards inclusive and sustainable development With its rich natural resources and growing economy the country has the potential to emerge as a leader in green finance innovation By adopting a holistic approach that incorporates elements of regulation, transparency and equity Pakistan can pave the way for a greener and more prosperous future Pakistan stands at a critical juncture in its developmental trajectory Rapid urbanization industrialization, and population growth have placed immense pressure on the country s ecosystems, exacerbating environmental degradation and climate change In recent years Pakistan has acknowledged the importance of environmental sustainability and incorporated it into its policy frameworks The government recognizes the imperative to transition towards a green economy, characterized by low-carbon emissions, resource efficiency, and social inclusivity Central to this transition is the concept of green finance which seeks to mobilize financial resources towards environmentally sustainable investments and projects Pakistan s journey towards green finance mirrors global trends, with a predominant focus on neoliberal principles and marketbased mechanisms Initiatives aimed at promoting private sector involvement in green investments have garnered interest from domestic and international investors One challenge facing Pakistan is balancing environmental objectives with economic g r o w t h i m p e r a t i v e s G r e e n w a s h i n g r e m a i n s a concern, highlighting the importance of robust regulatory frameworks and transparency measures Structural barriers including limited acc e s s t o f i n a n c i n g f o r S M E s a n d a l a c k o f a w a r e n e s s a m o n g i n v e s t o r s r e g a r d i n g s u st a i n a b l e i n v e s t m e n t o p p o r t u n i t i e s , h i n d e r Pakistan’s transition towards green finance A d d r e s s i n g t h e s e c h a l l e n g e s r e q u i r e s c o nc e r t e d e ff o r t s f r o m b o t h t h e p u b l i c a n d p r ivate sectors Pakistan can draw insights from global initiatives aimed at market-making neoliberal green finance, such as the European Union s taxonomy and carbon pricing mechanisms However, implementation requires careful consideration of local context and institutional capacity In addition to market-making measures Pakistan must also consider the role of standard neoliberal green finance in fostering equitable and inclusive development Tax incentives and subsidies can be leveraged to incentivize green investments Government intervention and regulatory oversight are crucial as Pakistan navigates its transition towards green finance Reformist s t r a t e g i e s a d v o c a t e f o r r o b u s t r e g u l a t o r y frameworks and proactive government interv e n t i o n t o s t e e r f i n a n c i a l m a r k e t s t o w a r d s sustainability Transformative-progressive green finance calls for a fundamental reimagining of the economic system Pakistan can explore innovative policies aimed at democratizing finance and empowering marginalized communities to participate in decision-making processes Pakistan faces challenges such as institutional capacity constraints, regulatory barriers, limited access to finance, and a lack of awareness among investors and policymakers However these challenges also present opportunities for innovation collaboration and collective action Building institutional capacity and regulatory frameworks conducive to green finance is essential Targeted capacity-building initiatives and financial literacy programs can enhance awareness and inclusion Pakistan must address the issue of limited access to finance particularly for SMEs women entrepreneurs and rural communities Innovative financial products and services tailored to the needs of underserved populations are crucial Raising awareness among investors and policymakers about the benefits of green finance is paramount Education and advocacy campaigns can promote understanding and awareness of environmental issues and the role of finance in driving sustainable development Pakistan stands at a critical juncture in its journey towards sustainable development, with green finance emerging as a key driver of transformative change Collaboration partnership and dialogue among stakeholders are essential to overcome barriers and leverage opportunities By embracing principles of environmental sustainability, social inclusion, and economic resilience, Pakistan can unlock new opportunities for innovation investment and growth The adoption of green finance principles offers a ray of hope for a brighter more prosperous future Investing in sustainable infrastructure renewable energy and environmentally friendly technologies lays the foundation for a resilient and inclusive economy that benefits all its citizens, present and future The writer is Assistant Director Sindh Environmental Protection Agency P i o n e e r i n g s u s t a i n a b i l
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even though the PTI won the largest number of seats in the National Assembly and the Punjab Assembly, it was unable to form governments there That was the first time that the largest party in the House did not form the government Ominously there is one example 1970 Then too the largest party to emerge in the National Assembly the Awami League, did not form the government, and the House never met as one Instead, two Houses met in 1972 for two different countries, and in each, the largest party formed the government There is no compulsion for the largest party to form the government However that has been the practice since 1988 That was also the first time that the sacked government went into opposition It was also the only occasion when the ousted PM did not attempt to form the government An attempt was made to make the ousted PML, now in its IJI avatar, the centrepiece of an anti-PPP coalition but that attempt was not spearheaded by the ousted PM Muhammad Khan Junejo but Mian Nawaz Sharif After that there was never an attempt by the party coming second to form the government, even though it was theoretically possible each time except 1997, when the PML(N) won an absolute majority However the Musharraf Martial Law then inter-
the
thinkable
duce
with a working majority However matters are unlikely to go so far The Speakers
orating his original statement Perhaps more importantly, “the king (in this case,
President) must be served ” The President is head of state and must have a head of government That can only be provided by the National Assembly It is un-
that the National Assembly would fail to pro-
a majority for someone, to the extent that in the election for PM, if there is no majority in the first round, other rounds take place until someone emerges
the job reflects not just reservations on the part of powerful quarters as much as a recognition that he cannot transform the economy, and his trenchant criticism of the PTI on this count could well rebound on him Further he has been left carrying the baggage of Ishaq Dar ’s latest tenure as Finance Minister He might agree with Senator Dar that the economic mess was caused by the PTI but he cannot but recognize that Senator Dar as Finance Minister could not achieve much, with the result that the PML(N) s reputation as being good for the economy is in shreds There seems to be a recognition by all concerned that it is no longer possible to continue as before Hopefully this should lead to better governance At the same time it could lead to an abandoning of both the caution and the realism necessary to handle such a crisis Desperate times do indeed call for desperate measures, but that does not mean licence to be irresponsible Out-of-the-box solutions may well be required but that does not mean that there must be a refusal to implement solutions that have long been propounded There are many things which have to be done; a PML(N) government may
The dust begins to settle At Penpoint
A N I A Z I
The poisoned chalice
M

Cr

energy, or incentivize environmentally friendly practices through eco-coins

TE REGULATION AND PUBLIC PRESSURE: As awareness of the environmental impact of cryptocurrencies grows, there may be increased regulatory pressure on the industry to become more sustainable Public pressure and the desire for a “greener” image may also drive crypto companies to adopt more environmentally friendly practices

F DECENTRALIZATION VS CENTRALIZATION: The decentralized nature of cryptocurrencies means that mining operations are spread out across the globe and not always subject to uniform environmental standards This decentralization poses challenges for regulating the environmental impact of crypto mining

C THE GROWTH

problem without the need for a trusted third party 2009: Bitcoin was launched on January 3rd, with the genesis block mined by Satoshi, marking the beginning of the blockchain

(PoA) can significantly reduce the environmental impact of cryptocurrencies

C INTEGRATION OF BLOCKCHAIN IN ENVIRONMENTAL CONSERVATION: Blockchain technology the backbone of cryptocurrencies holds significant potential for environmental conservation efforts It can provide transparent and immutable tracking of carbon credits, facilitate trade in renewable energy certificates, and support sustainable supply chain management, enhancing accountability and efficiency

D REGULATORY FRAMEWORKS PROMOTING SUSTAINABILITY:

TOKENS:

D

h e n t i c , b u t h a ve b e e n m a n i p u l a t e d w i t h A r t i f i c i a l I n t e l l i g e n c e dr raJKumar singh

The ongoing development of cryptocurrency technology and the industry’s response to environmental concerns will play a significant role in shaping its future sustainability However the relationship between the environment and cryptocurrencies is in a state of flux, influenced by technological advancements, regulatory changes, and shifts in societal values towards sustainability and balancing the environmental costs with the benefits of innovation and decentralization is an ongoing challenge for the industry and regulators

The history of cryptocurrency is a fascinating journey that spans several decades intertwining advancements in cryptography, computer science, and economic theory:

A PRE-BITCOIN ERA: 1980S-1990S:

Concepts akin to cryptocurrencies began to emerge David Chaum a cryptographer introduced DigiCash an electronic cash system, in the 1980s Although DigiCash eventually went bankrupt, it laid the groundwork for future digital currencies 1990s-2000s: Various attempts at creating digital currencies were made including B-Money and Bit Gold which were never fully developed but contributed ideas such as proof of work and decentralized consensus

B BIRTH OF BITCOIN 2008: The pseudonymous Satoshi Nakamoto proposed in the year a decentralized digital currency that solved the double-spending

W h a t a r e de e p f a k e s , t h e i r r i s k s a n d h o w t o s p o t t h e m

Eintersection of the environment and cryptocurrency presents a dynamic field with evolving prospects and challenges As the awareness of environmental sustainability grows the cryptocurrency industry is adapting and innovating:

A INCREASED USE OF RENEWABLE

ENERGY: As societal pressure mounts to reduce carbon footprints, there’s a strong prospect for increased use of renewable energy sources in cryptocurrency mining operations Locations with abundant renewable resources like hydroelectric solar or wind power could become hotspots for eco-friendly mining

B ADVANCEMENTS IN ENERGY-EFFICIENT TECHNOLOGIES: Technological innovation is likely to produce more energy-efficient mining hardware and algorithms The shift from energy-intensive Proof of Work (PoW) models to more sustainable alternatives like Proof of Stake (PoS) or Proof of Authority

As governments and regulatory bodies become more involved with cryptocurrencies, there s a prospect for frameworks that incentivize sustainability Regulations could mandate the use of renewable energy for mining operations or provide tax incentives for low-carbon technologies steering the industry towards greener practices

E DECENTRALIZED ENERGY GRIDS: Blockchain technology could revolutionize energy markets by enabling decentralized energy grids These systems allow for peer-to-peer energy trading making it easier for individuals to buy sell or trade renewable energy potentially leading to more efficient energy use and greater adoption of renewable sources

F ECO-FRIENDLY CRYPTOCURRENCIES: There is an emerging trend of eco-friendly cryptocurrencies that inherently have a lower environmental impact either through their consensus mechanisms or by directly supporting environmental causes The growth and adoption of such currencies could reshape the market with an emphasis on sustainability

G CORPORATE SOCIAL RESPONSI-

BILITY: As the environmental impacts of cryptocurrencies become more widely recognized companies in the space may adopt stronger corporate social responsibility (CSR) practices Thus, the future prospects of the environment and cryptocurrency are intricately linked to technological innovation regulatory developments and shifts in societal values towards sustainability

What motivates a president of Argentina to call for the demolition of Al-Aqsa Mosque?

EL PAIS a L O n s O m a r t Í n e z MIDDLE EAST MONITOR e m a n a b u s d u

to detect it They work constantly resulting in a more realistic or accurate portrayal According to GAO, GANs create more convincing deepfakes, but are more difficult to use” Improvements on these types of technology are making deepfakes harder to detect In the past viewers could easily detect fraudulent content but this may no longer be the case considering how realistic some images videos and audios seem

RISKS OF DEEPFAKES: As mentioned, deepfake technology could be used to create several types of content such as pornography using a celebrity or any person’s face without their consent or fake news with altered videos of politicians saying things they never said or doing things they never did A report made by the Department of Homeland Security states that “the threat of Deepfakes and synthetic media comes not from the technology used to create it but from people’s natural inclination to believe what they see and highlight that deepfakes and synthetic medicare effective in spreading misinformation or disinformation despite not being advanced or believable The Department also highlights how divided the opinion of experts on the urgency of the threat synthetic media and deepfakes pose is It says that the spectrum of concerns range from “an urgent threat

H I L E most Latin American countries have demonstrated support for Palestine and distanced themselves from the occupation state of Israel during its aggression against the Palestinians in Gaza Argentina s President Javier Milei has called for the demolition of Al-Aqsa Mosque the third holiest site in Islam This he was reported as saying, is in order to bring the Messiah and build the third temple Milei was greeted by Israeli Prime Minister Benjamin Netanyahu when he opted to go to the apartheid state for his first overseas trip as president in early February Just as Rabbi Akiva had hope in the midst of destruction in a prophecy of reconstruction, Israel has also overcome destruction to build a new, free and prosperous society,” said Milei when he arrived in Israel He claimed to have long dreamed about travelling to Jerusalem to aid his study of the Torah Talmud and other Jewish scriptures He duly went to the Western Wall, surrounded by settlers, rabbis and spiritual guides From the very beginning of his presidency in December Israel viewed Milei as a new ally and the catalyst for a new chapter in relations with Argentina The Argentina which condemned the Israeli aggression against Palestinian worshippers at

Al-Aqsa Mosque and insisted that the occupation state must avoid escalating violence last year in a very a strongly worded statement today has a president who calls for the demolition of the sacred mosque We should not be surprised Milei is an enthusiastic ally of the state whose army (the so-called “Defence Forces”) has killed at least 30,000 Palestinians in Gaza since October wounded 70 000 more and destroyed 60 per cent of the enclave s civilian infrastructure including one thousand mosques This self-styled true Zionist describes Israel as one of the most amazing countries in the world He told the Israeli Foreign Minister that his visit was intended to show “support for the people of Israel” and “the legitimate [sic] self-defence of the state against the terrorists [sic] of the Palestinian Islamist movement, Hamas Some observers point out that this is all part of his strategy to attract the support of Argentina’s Jewish community, one of the largest in the world and divert attention from the economic and political crises plaguing his country Others suggest that his threat to Al-Aqsa Mosque is an act of bravado to show Hamas, which said that Operation Al-Aqsa Flood on 7 October was a response to Israeli violations at the Noble Sanctuary in occupied Jerusalem that he is not afraid of the movement “I am not Jewish but I am a fan of Israel I have a deep admiration Milei told La Nación in 2021 I am a Catholic and every day I kneel in front of a Jew [sic] Despite being a Catholic, he has a close relationship with Judaism, which he has demonstrated in media statements “I am thinking about converting to Judaism and I aspire to become the first Jewish president in Argentine history he said during the closing ceremony of his presidential campaign at the Movistar Arena Stadium In an interview with the Wall Street Journal Milei returned to this idea by pointing out: “There is the possibility ofconverting to Judaism I could not do it now because compliance with the precepts could conflict with my activity as president such as when respecting the Shabbat It s deeper and more long-term

One of his first announcements as president was to say that the Argentine Embassy in Israel will be moved to Jerusalem This Trump-like character repeated his promise when he visited Israel When the one ordered Moses to break the first tablets of the law the first word he uttered was Jerusalem and that was where King David established the capital, therefore we must take the embassy from Tel Aviv to Jerusalem,” he explained If he does this he will break with Argentina’s neutrality in the Israeli-Palestinian conflict Argentina s position has long been to remain equidistant from both sides, while holding on to respect for human rights, international law and UN resolutions Given Israel’s total contempt for human rights, international law and UN resolutions Milei makes it unlikely that Argentina will continue on the neutral path with any degree of credibility According to former Argentine deputy Julia Perié, the decision to transfer the embassy reflects Milei s recent spiritual inclination that linked him to the ultra-conservative Orthodox community of Judaism and identifies the Palestinian people as the enemy of the Israeli people

Perié told me that It is important to make it known that the majority of the Argentinian communities, even the Jewish community here in Argentina, disapprove of the development of the massacre of the Palestinian people in Gaza ” The relatively small but vocal Palestinian community in Argentina has worked tirelessly to develop support for their cause through human rights organisations and political groups that have an impact across Argentine civil society They have criticised his calls for Al-Aqsa Mosque to be demolished as well as the proposed embassy move

I

Friday 1 March 2024 COMMENT 05
V E R since the term Deepfake appeared online in 2017, it has become more popular because of its innovative way of creating artificial videos and the dangers it poses More recently the term came into the mainstream after fake nude photographs of American singer Taylor Swift proliferated on X (formerly known as Twitter), which led to calls in Congress for new legislation These AI-generated images of real people and which appear authentic have garnered significant attention in light of Swift s targeting Some states have already enacted laws targeting deepfakes, while others are considering measures to combat their proliferation Efforts include deepfake detection algorithms and embedding codes in content to identify misuse Model legislation proposed by the American Legislative Exchange Council focuses on criminalizing possession and distribution of deepfakes depicting minors and allowing victims to sue for nonconsensual distribution of sexual content However, ensuring effective enforcement and navigating free speech concerns remain significant challenges Federal legislation has also been introduced to provide individuals with property rights over their likeness and voice, allowing them to sue for misleading deepfakes States such as Indiana and Missouri are pushing for legislation criminalizing the creation and distribution of sexually explicit deepfakes without consent But deepfake pornography is just the tip of the iceberg when we talk about the risk this type of technology poses Deepfakes have several potential uses that could represent different harms, such as fake news, hoaxes, financial fraud and other types of pornography like revenge porn or child sexual abuse material WHAT ARE DEEPFAKES? Deepfakes are videos photos or audio recordings of real-life people that seem authentic, but have been manipulated with Artificial Intelligence, according to the U S Government Accountability Office (GAO) The name comes from the type of machine learning used to generate this type of media deep learning The GAO says deepfakes are tools that can be used for exploitation and disinformation They could influence elections and cause damage to public and private figures, but so far have mainly been used for non-consensual pornography”, as was the case with Taylor Swift HOW DO DEEPFAKES WORK?: Deepfakes utilize advanced AI techniques like autoencoders and generative adversarial networks (GANs) to create realistic synthetic media both examples of deep learning, which can take certain types of data and learn to produce a similar media that resembles the example An autoencoder is an artificial neural network designed to replicate how the human brain learns information trained to recreate input from a simple representation, which means that it can reconstruct an image or a video taking a basic file GANs consists of two competing artificial neural networks one is trying to produce a fake version and the other tries
to don t panic just be prepared HOW TO DETECT DEEPFAKES: Technological detection of deepfakes relies on extensive and diverse datasets for training detection tools, but current datasets are insufficient and require constant updates to effectively detect manipulated media Automated detection tools are still under development with ongoing research aiming to automatically identify deepfakes and assess the integrity of digital content However, detection techniques often spur the development of more sophisticated deepfake methods so regular updates to detection tools are necessary Even with effective detection disinformation spread through deepfake videos may still be impactful due to audience unawareness or lack of verification Social media platforms have inconsistent standards for moderating deepfakes, and proposed legal regulations raise concerns about freedom of speech privacy rights and enforcement challenges As for human detection while in the past it could ve been easy to spot a fake video there were common visual mistakes like inconsistent eye blinking or lack of definition in certain areas of the media , currently, with its advances it is becoming even harder to spot fake content
H E relationship between the environment and cryptocurrency is multifaceted of which key points include: A ENERGY CONSUMPTION: One of the main environmental concerns related to cryptocurrencies, especially Bitcoin, is their energy consumption The process of mining, which is used to validate transactions and create new coins requires substantial computational power This has led to concerns over the carbon footprint of cryptocurrencies as the energy used for mining often comes from non-renewable sources B RENEWABLE ENERGY: There’s a growing trend towards using renewable energy sources for mining operations to reduce their environmental impact Some crypto mining operations are being set up in locations where renewable energy is abundant and cheap, such as hydroelectric power in some parts of China or geothermal energy in Iceland C ENERGY EFFICIENCY IMPROVEMENTS: Advances in technology may lead to more energy-efficient mining hardware and algorithms For example the shift from Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanisms in some cryptocurrencies significantly reduces energy consumption because it removes the need for competitive mining
Cryptocurrencies and blockchain technology are also being used to support environmental causes For instance, various projects use blockchain to track carbon credits transparently tokenize renewable
ENVIRONMENTAL
OF CRYPTOCURRENCIES 2010: Bitcoin was used for the first time to buy a real-world good (two pizzas), marking a significant milestone in its adoption 2011: Other cryptocurrencies began to emerge, such as Litecoin, offering different features and improvements over Bitcoin such as faster transaction times 2013: The price of Bitcoin surged to over $1 000 for the first time drawing significant media attention and public interest 2014: The Mt Gox exchange, handling over 70% of all Bitcoin transactions at its peak, filed for bankruptcy following a massive hack highlighting the security risks in the ecosystem D EXPANSION AND DIVERSIFICATION: 2015-2017: The Ethereum platform was launched, introducing smart contracts and enabling a wide range of decentralized applications (dApps), beyond simple transactions This period also saw the Initial Coin Offering (ICO) boom where projects raised funds by issuing new tokens 2017-2018: The cryptocurrency market experienced a massive bull run, with Bitcoin reaching nearly $20,000 in December 2017 This period also saw heightened regulatory scrutiny and the beginning of a significant market correction E MATURATION AND INSTITUTIONAL ADOPTION 2019-2021: The market began to mature, with increased institutional interest clearer regulatory frameworks in some jurisdictions, and the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs) Bitcoin and other major cryptocurrencies saw significant price increases with Bitcoin reaching new all-time highs above $60 000 in 2021 2021-Present: The cryptocurrency market continues to evolve, with ongoing developments in DeFi, NFTs, and the broader blockchain ecosystem Institutional adoption is growing with companies adding Bitcoin to their balance sheets and offering cryptocurrency services The
The writer is a youth motivator and former Head of the University Department of Political Science B N Mandal University Madhepura Bihar India y p to c u r re n c y i s h e re to s t ay, a n d s o i s t h e e nv i ro n m e nt
W
D e e p f a ke s a re v i d e o s, p h o t o s, o r a u d i o re c o rd i n g s o f re a l - l i f e p e o p l e t h a t s e e m a u t
Environment and cr yptocurrency: Future challenges
N the Iranian shrine city of Qom huge street banners remind voters to head to the polls in Friday s parliamentary elections, held as the Gaza war stokes Middle East tensions Voters in the Islamic republic will pick a new parliament for another four years, as well as members of the Assembly of Experts in charge of electing Iran’s supreme leader The vote comes amid a biting economic crisis and will be the first since Iran was rocked by nationwide protests over the death of Iranian Kurd Mahsa Amini 22 after her arrest for allegedly violating the strict dress code for women Large posters around Qom, around 120 kilometres south of the capital Tehran, show Supreme Leader Ayatollah Ali Khamenei in front of a ballot box, with a message urging people to vote in order for Iran “to become stronger” Islamic theology student Mohammad Jafari said he will heed the call voicing hope that the election will strengthen Iran at a time its arch enemy Israel is fighting a devastating war against Hamas in the Gaza Strip The elections will strengthen both the country s internal and international standing, said 27-year-old Jafari in Qom a centre of Shiite Muslim shrines and home to renowned religious scholars Iran and Israel are bitter enemies and Tehran has made support for the Palestinian cause a centrepiece of its foreign policy since the 1979 Islamic revolution To Jafari, it is important that “our enemies see that the government has the support of the people” to deter military threats against it Rahbari, a 40-year-old housewife in Qom said the elections are an opportunity to assert Iran s independence and neutralise all enemy plots She said it is important to vote given the events that are happening in the region and also the threats made by Iran s enemies Iran s current parliament, elected in 2020, has been dominated by conservatives and ultra-conservatives after many reformists and moderates were disqualified The 2020 elections saw the lowest voter turnout since 1979 while a recent poll conducted by Iran’s state television found that more than half of respondents were indifferent to the elections Jafari believes a low turnout this time would show Iran is in the grip of unrest and divisions , fearing this might prompt a military attack on its territory But for others in Iran, the war in Gaza is not a major concern Former moderate president Hassan Rouhani has called on the people to vote “to protest against the ruling minority” I r a n i a n s u r g e d t o v o t e a s M i d e a s t t e n s i o n s s o a r JORDAN TIMES J é r ô m e r i v e t a n d r a m n K h a n i z a d e h
As the environmental impacts of cr yptocurrencies become more widely recogniz ed, companies in the space may adopt strong er corporate social responsibility (CSR) practices Thus, the future prospects of the environment and cr yptocurrency are intricately linked to technological innovation, regulator y developments, and shifts in societal values towards sustainability

TFresh sanc tions pose risk to India’s Russian oil sales

CORPORATE CORNER

PC Bhurban wins top honours at Pakistan International Culinar y Championship 2024

ISLAMABAD

S ta f f R e p o R t

Pearl-Continental Hotel Bhurban s exceptional culinary team, consisting of seven professional chefs, garnered notable recognition at the Pakistan International Culinary Championship 2024, receiving several awards across various categories including Beef Practical Category Seafood Practice Professional Chicken Practical Professional and many others The Pearl-Continental Hotel Bhurban secured four trophies eight gold medals five silver medals, and three bronze medals The Pakistan International Culinary Championship (PICC) is an event endorsed by the prestigious World Chef Association and was held recently in Lahore with culinary enthusiasts and professionals from Maldives Malaysia Iran Saudi Arabia Uzbekistan and several regions across Pakistan PICC 2024 hosts seasoned professionals worldwide and is a remarkable opportunity for young upcoming chefs to hone their skills and learn from skilled professionals

COMSATS Universit y

Islamabad and Universit y of Regina of Canada forge historic global collaboration

ISLAMABAD

S ta f f R e p o R t

C o r p ( B P C L ) ( B P C L N S ) o p e n s n e w t a b a n d H i n d u s t a n P e t r o l e u m C o r p ( H P C L ) ( H P C L N S ) , o p e n s n e w t a b a r e i n j o i n t t a l k s w i t h R u s s i a n m a j o r R o s n e f t f o r a n a n n

In a significant step towards global cooperation COMSATS University Islamabad (CUI) and University of Regina Canada have sealed a landmark MoU for a five-year term already endorsed by the Government of Pakistan Prof Dr Sajjad A Madani, Registrar of CUI, and Mr Haroon Chaudhary, Associate Vice-President (International) & Chief International Officer of the University of Regina inked the MoU on behalf of their institutions during a physical ceremonious event The occasion was honoured by the presence of Mr Michael Lazaruk Head of the Commercial Program & Senior Trade Commissioner of the High commission of Canada in Islamabad H E Mr Janbaz

Khan, Consul General of Pakistan, and Mr Ghulam Hussain Vice Consul General joined the ceremony virtually from Vancouver Canada Dr Hammad Omer T I Head International Office presented an overview of COMSATS University Islamabad and

Hexing’s par ticipation in solar Pakistan exhibition, showcasing

Friday 1 March 2024 | K AR ACHI 06 NEWS
highlighted past engagements
the university with Canada established since 2004 and proposed further connections between CUI and Canada
of
LAHORE S ta f f R e p o R t
Solar Pakistan Exhibition, a three-day event, commenced at the Lahore Expo Center on Tuesday drawing a significant turnout from households commercial and industrial entities seeking energy-efficient solutions Hexing Energy (Pvt) Ltd a pioneering entity in sustainable energy solutions, is actively participating in this 14th international exhibition to showcase the company's diverse range of smart and green energy products and solutions Hexing's core business involves renewable energy products smart metering and distribution products in the electricity and water industries and IoT solutions Commemorating 64th bir thday of his majest y Emperor Naruhito KARACHI: Mr HATTORI Masaru Consul-General of Japan in Karachi hosted a National Day Reception on February 28th to commemorate the 64th birthday of His Majesty Emperor Naruhito Around 500 guests from diverse backgrounds, including diplomats, prominent politicians and government officials dignified the event with their presence Chief Guest of the event Governor Sindh H E Mr Kamran Tessori graced the occasion and extended felicitations to the Japanese people on their National Day In his address, Consul General Mr HATTORI welcomed the distinguished guests and expressed his pleasure in hosting his first National Day reception in Karachi He emphasized the rich history of diplomatic relations between Japan and Pakistan and highlighted recent initiatives aimed at enhancing bilateral cooperation Mr HATTORI underscored Japan s commitment to working closely with the newly elected government of Pakistan to strengthen ties and foster mutual development S ta f f R e p o Rt PR OFIT N e w S D e S k
innovative solar solutions
The
HE US State Department acknowledged ongoing discussions with Pakistan regarding the Pak-Iran gas pipeline project following its approval by Pakistan s caretaker cabinet While specific diplomatic conversations remain undisclosed, the Department emphasized its commitment to addressing Pakistan’s energy deficit The approval of the pipeline project poised to significantly enhance Pakistan s energy security was confirmed just a day after the caretaker cabinet s decision This development marks a significant progression for the initiative, which aims for completion within a year In light of the US’s focus on aiding Pakistan s energy needs a spokesperson highlighted the contribution of approximately 4,000 MW to the country’s power grid benefiting over 50 million residents Additionally the US-Pakistan Green Alliance was cited as a key effort in tackling environmental challenges including water management and renewable energy This statement comes as Pakistan decides to delay an appeal against US sanctions related to the project citing the current geopolitical climate The Ministerial Oversight Committee s decisions on the project were finalized with the Petroleum Division outlining a plan for progression, albeit with postponed submission to US authorities The federal cabinet’s recent approval via circulation reinforces an earlier endorsement by the Cabinet Committee on Energy The project delayed for over a decade involves a 1931-kilometer pipeline, with a substantial portion already completed by Iran The total project cost is estimated at $158 million aiming to bridge the energy supply gap in Pakistan U S C O N T I N U E S D I A LO G U E O N PA K - I R A N G A S P I P E L I N E A S P R O J E C T A D VA N C E S US EMPHASIZES ITS COMMITMENT TO ADDRESSING PAKISTAN'S ENERGY DEFICIT India’s economy grows 8.4%, fastest pace in six quar ters PR OFIT R e u t e R S India s economy rose 8 4% in the October-December period the fastest pace seen in six quarters and beating all estimates, partly helped by a surge in manufacturing activity, according to data released by the government on Thursday The growth rate was much faster than economists’ forecasts of 6 6% as seen in a Reuters poll and higher than revised growth of 8 1% in the previous quarter India has been consistently beating market expectations and has been ranked as one of the fastest-growing economies in the world with China struggling to recover and the eurozone narrowly escaping a recession The figures are the last major economic indicator for voters to help gauge the performance of Prime Minister Narendra Modi s government before national elections due before May The manufacturing sector, which for the past decade has accounted for just 17% of Asia s third-largest economy, expanded 11 6% year-on-year in the December quarter compared with a revised 14 4% in the previous three months PR OFIT R e u t e R S Fresh U S sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude and complicate efforts by Indian state refiners to secure annual supply deals three industry sources familiar with the matter said Washington on Friday imposed sanctions to mark the second anniversary of Moscow s invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny The sanctions target Russia’s leading tanker group, Sovcomflot, which Washington accused of being involved in violating the G7’s price cap on Russian oil as well as 14 crude oil tankers tied to Sovcomflot Sources said Indian refiners are concerned the latest sanctions will create challenges in getting vessels for Russian oil and could drive up freight rates That may narrow the discount for the oil, which is bought from traders and Russian companies on a delivered basis In addition Moscow may have to push even more volumes through traders to shield from further sanctions risk adding to uncertainties the industry sources said declining to be named because of the sensitivity of the matter India rarely bought Russian oil before 2022 due to high freight costs, but refiners in the world’s thirdlargest oil importing nation are now big buyers benefitting from lower prices after Europe banned Russian oil imports Russia emerged as India s top oil supplier in 2023 Through term deals and spot market purchases the South Asian nation imported about 1 66 million barrels per day of Russian oil in 2023 compared to an average 652,000 bpd in 2022 Russia has replaced Iraq as top oil supplier Price Play-Russia replace Iraq as top oil supplier to India in 2023 State refiners Indian Oil Corp (IOC NS) opens new tab Bharat Petroleum Corp (BPCL) (BPCL NS) opens new tab and Hindustan Petroleum Corp (HPCL) (HPCL NS) opens new tab are in joint talks with Russian major Rosneft for an annual deal to secure a combined volume of up to 400,000 bpd of Russian oil, mainly Urals, for the fiscal year that starts on April 1, sources said Sources said final volumes under the planned term deals depend on payment terms and discounts offered by Russia Rosneft has offered a discount of $3-$3 50 per barrel to Dubai prices, two of the sources said, costlier than top refiner Indian Oil s current deal with Rosneft, which ends on March 31, at a discount of $8-$9 to Dubai quotes on a cost and freight basis Refiners consider the proposed discount to be thin given the uncertainties brought by sanctions sources said Indian state refiners are not seeking supplies of Sokol grade crude under the planned term deal due to payment issues, they added The three refiners and Rosneft did not respond to requests for comment An Indian government source said India would continue buying Russian oil only if it is sold below the price cap in a non-sanctioned vessels
PR OFIT R e u t e R S Fresh U S sanctions on Moscow threaten to dent Russian oil sales to India the biggest buyer of Russian seaborne crude and complicate efforts by Indian state refiners to secure annual supply deals three industry sources familiar with the matter said Washington on Friday imposed sanctions to mark the second anniversary of Moscow’s invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny T h e s a n c t i o n s t a r g e t R u s s i a s l e a d i n g t a n k e r g r o u p , S o v c o m f l o t , w h i c h Wa s h i n g t o n a c c u s e d o f b e i n g i n v o l v e d i n v i o l a t i n g t h e G 7 ’s p r i c e c a p o n R u s s i a n o i l , a s w e l l a s 1 4 c r u d e o i l t a n k e r s t i e d t o S o v c o mf l o t S o u r c e s s a i d I n d i a n r e f i n e r s a r e c o n c e r n e d t h e l a t e s t s a n c t i o n s w i l l create challenges in getting vessels f o r R u s s i a n o i l a n d c o u l d d r i v e u p f r e i g h t r a t e s That may narrow the discount for the oil which is bought from traders and Russian companies on a delivered basis In addition Moscow may have t o p u s h e v e n m o r e v o l u m e s t h r o u g h t r a d e r s t o s h i e l d f r o m f u r t h e r s a n ctions risk, adding to uncertainties, the industry sources said, declining to be n a m e d b e c a u s e o f t h e s e n s i t i v i t y o f the matter India rarely bought Russian oil before 2022 due to high freight costs but refiners in the world s third-largest oil importing nation are now big buyers, benefitting from lower prices, after Europe banned Russian oil imports Russia emerged as India’s top oil supplier in 2023 Through term deals and spot market purchases the South Asian nation imported about 1 66 million barrels per day of Russian oil in 2023 compared to an average 652 000 bpd in 2022 R u s s i a h a s r e p l a c e d I r a q a s t o p o i l s u p p l i e r P r i c e P l a y - R u s s i a r ep l a c e I r a q a s t o p o i l s u p p l i e r t o I n d i a i n 2 0 2 3 S t a t e r e f i n e r s I n d i a n O i l C o r p ( I O C N S ) o p e n s n e w t a b B h a r a t P e t r o l e u m
u a l d e a l t o s e c u r e a c o m b i n e d v o l u m e o f u p t o 4 0 0 0 0 0 b p d o f R u s s i a n o i l m a i n l y U r a l s f o r t h e f i s c a l y e a r t h a t s t a r t s o n A p r i l 1 s o u r c e s s a i d S o u r c e s s a i d f i n a l v o l u m e s u n d e r t h e p l a n n e d t e r m d e a l s d e p e n d o n p a y m e n t t e r m s a n d d i s c o u n t s o ff e r e d b y R u s s i a Rosneft has offered a discount of $3-$3 50 per barrel to Dubai prices two of the sources said costlier than top refiner Indian Oil s current deal with Rosneft, which ends on March 31, at a discount of $8-$9 to Dubai quotes on a cost and freight basis Refiners consider the proposed discount to be thin given the uncertainties brought by sanctions sources said Indian state refiners are not seeking supplies of Sokol grade crude under the planned term deal due to payment issues, they added The three refiners and Rosneft did not respond to requests for comment An Indian government source said India would continue buying Russian oil only if it is sold below the price cap in a non-sanctioned vessels The country’s oil ministry did not respond to a request for comment
sanc tions pose risk to India’s Russian oil sales UGIs three campuses hold annual prize distribution ceremony LAHORE: The annual prize distribution ceremony of three campuses of the Unique Group of Institutions (UGIs) including Faisal Town Mehran Block and Wapda Town was held at Expo Centre Lahore here with Group Chairman Prof Abdul Manan Khurram in the chair Former chairman Punjab Higher Education Commission Prof Dr Nizamuddin was special guest at the ceremony Special guests of the ceremony included well-known powerlifter Neelam Riaz, football player Mafia Parveen and Nabeel Salman and well-known actress Vankar Malaika At the ceremony prizes and trophies were distributed among students who achieved success in curricular and co-curricular activities Expressing his views on the occasion former chairman Punjab Higher Education Commission Dr Mohammad Nizamuddin said that the Unique Group, while keeping its tradition, had organised a prize-distribution ceremony for the position-holders which was good for encouraging students to work hard S ta f f R e p o Rt
Fresh

EBM

Pak-China Coll aboration sets stage for ChemiCal industry digitaliz ation

OGDCL, ISGS agree to collaborate for strategic underground gas storage projec t

Shauk at Khanum Memorial Trust launches zak at collec tion c ampaign for 2024

The

Faysal Bank receives recognition at 13th Annual CSR Summit & Awards

LBS, under auspices of UoL, organizes research colloquium and CEO Forum as par t of ‘ Xplore Research Confluence Week 2024’

Bank Alfalah to benefit over 47pc of BISP beneficiaries all over Pakistan

IIUI’s

Vibe Hai - ROX by Jazz is new

PM&DC President,

ACCME CEO disc uss int ’l standards for professional development

1

07 NEWS Friday 1 March 2024 | LAHORE PTA intensifies crackdown on sale of illegal issuance of SIMs ISLAMABAD P R Pakistan Telecommunication Authority (PTA) Zonal Office Rawalpindi, in collaboration with the Federal Investigation Agency (FIA) Cyber Crime Wing, successfully conducted three raids targeting franchisees of a mobile phone company and an illegal SIM registration vendor in Hasan Abdal Wah and Rawalpindi respectively The sale channels were found to be involved in illegal issuance of SIMs During the raid, 3550 preactive SIMs, 3 BVS devices, 748 silicon thumbs, 11 thousand digital fingerprints, and a printer were confiscated Three individuals were apprehended on the premises by the FIA team and FIRs have been filed against them Currently the FIA is conducting a thorough investigation into the matter Prior to these raids PTA had filed a complaint with the FIA based on information related to the illegal issuance of SIMs by these sales channels The raids are part of PTA's ongoing efforts to prevent the circumvention of the Multi-Finger Biometric Verification System (MBVS) Ufone 4G provides free c alls in Gwadar to help connec t flood-affec ted families, facilitate rescue & relief operations I S L A M A B A D: As Gwadar faces a large-scale natural disaster caused by catastrophic rains and flash floods, Pakistani telecom company, Ufone 4G has announced free calls to help connect local families, and assist in swift execution of rescue and relief operation in the affected port city The heavy downpour has inundated large parts of Gwadar, destroying homes and livelihoods, and rendering hundreds of families homeless A considerably large section of the local population is associated with the fishing industry whose boats were wrecked and businesses decimated by the deluge As a responsible Pakistani corporate citizen Ufone 4G has always stepped up to help fellow Pakistanis affected by natural disasters The free minutes will help the locals to connect with their loved ones alert authorities to their plight and request urgent rescue P R IESCO issues power suspension schedule for today ISLAMABAD P R According to Islamabad Electric Supply Company (IESCO)s spokesman, System Maintenance/Development Work is in process Therefore power supply of below mentioned feeders/areas will be temporary suspended as per given schedule: On 1st March 2024 from 09:00 AM to 02:00 PM Rawalpindi City Circle Khanna II Feeder GSO Circle, from 09:00 AM to 04:00 PM, Dhok Hasu, Ratta, Carriage Factory, Social Security Hospital, AMC, BB Shaheed, Major Masood, Ahsanabad, Subhan Shaheed, Railway Colony, CDL, Allamaabad Feeders From 08:00 AM to 05:00 PM Old Kaliam Khoi Ratta City Birut Gala Darbar Mai Toti Khoi Rata Express Charuhi Dongi Dana Sree Charuhi Express feeders and surrounding areas will remain closed IESCO management apologizes to its esteemed customers for the power outage If the work is completed ahead of time, the power supply can be restored even before the scheduled time PR OFIT M O N I T O R I N G D E S K
A K I S TA N and China are taking significant steps towards the digitalization of the chemical industry Led by Ghulam Qadir Commercial Counsellor of the Embassy of Pakistan in China, a Pakistani delegation visited TDD Ecommerce Company, a subsidiary of IBI Guolian, which specializes in digital supply chain solutions and industrial big data services The collaboration aims to explore the development of a joint digital trading service platform for the chemical industry The discussions focused on the creation of a digital trading platform a B2B e-commerce platform, and a China-Pakistan digital supply chain system The Pakistani delegation explored TDD’s operational strategies and the technological capabilities of the Guolian Cloud, emphasizing the importance of Pakistan s upcoming economic zones and industrial parks to foster a supportive business environment The initiative seeks to leverage TDD’s industry chain experience to introduce a comprehensive service platform in Pakistan Liu Zhai, CEO of TDD, shared the company s strategic vision and operations in Pakistan, underscoring the integration of the chemical industry’s supply chain as a key strategy This cooperation is part of the broader Belt and Road Initiative, aiming to expand the global supply chain on the industrial internet platform To further this collaboration TDD plans to participate in the Pakistan Coating Show 2024 engaging in market research and fostering exchanges with Pakistani companies and government bodies This initiative marks a significant step in strengthening bilateral cooperation in the digitalization of the chemical industry
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g C O O P E R AT I O N I S PA R T O F B R O A D E R B E LT A N D R O A D I N I T I AT I V E I S L A M A B A D: The Oil and Gas Development Company Limited (OGDCL) and Inter State Gas Systems (Private) Limited (ISGS) have agreed to collaborate for the development of the Strategic Underground Gas Storage (SUGS) Project to address the challenge of surplus gas management in Pakistan A Memorandum of Understanding (MoU) was signed between OGDCL and ISGS on Thursday at the OGDCL House in Islamabad The parties will evaluate potential opportunities in developing SUGS at OGDCL fields to enhance the country's energy infrastructure and ensure efficient utilization of gas resources The SUGS Project is a critical initiative designed to establish storage facilities for surplus gas, particularly during off-peak seasons when demand is low relative to supply in the Pakistani market Through the SUGS Project, OGDCL and ISGS aim to mitigate these challenges by creating storage capacity and facilitating gas swapping arrangements with other stakeholders in the industry on commercial basis Subject to technical and commercial feasibility, project involves the development of withdrawal wells, compressors, and connecting pipelines and construction of storage facilities capable of accommodating up to 15 billion cubic feet (BCF) of gas equivalent to five cargos sufficient for a period of two months PR
CORNER ISLAMABAD P R Prof Dr Samina Malik, Rector, International Islamic university Islamabad (IIUI) said that the university gives top priority to the research and its results are evident as IIUI has made meaningful progress in various recent rankings She was addressing to a closing ceremony of a 10-day long workshop on research methodology in social sciences organized by Iqbal International Institute for Research and Dialogue (IRD) in collaboration with Directorate of Graduate Studies The workshop was attended by around 100 scholars from various universities including IIUI, QAU, Minhaj University Lahore Air University Islamabad BUITEMS Quetta Qurtaba University Peshawar Hamdard University Karachi and the Women University of Multan The workshop was designed in physical and online mode
CORPORATE
priority based approach
rankings: Rec tor
research
led to meaning ful progress in
chooses Youniform.co as exclusive uniform par tner, setting new standard in corporate wear
A H O R E: English Biscuits Manufacturers (EBM) a key player in the food industry proudly announces its strategic collaboration with Youniform co, a leading online uniform provider This partnership marks a significant leap towards redefining corporate elegance and establishing unparalleled standards for the workforce In expressing his satisfaction with the partnership Mr Shariq Kaleem Senior Manager of Administration Industrial Relations and Security at EBM stated The prime reason for selecting Youniform was the exceptional quality and standard depicted in the materials offered The craftsmanship, particularly in the stitching was amazing This was the main reason we chose Youniform for our workers' uniforms Based on the consistently high quality offered we have no reservations in recommending them for the provision of quality uniforms PR
L
st ever mega event at K huzdar: PEC
Engineering Capstone Expo -Pakistan
ISLAMABAD: Pakistan Engineering Council (PEC) is dedicated to promote growth of Engineering Education for which PEC Pakistan Development Committee convenor Engr Mir Masood Rashid inviting at the 6 th Engineering CAPSTONE EXPO BALOCHISTAN (FYDP- Final Year Design Projects Exhibition) and 2 nd in Balochistan region ENGR Muhammad Najeeb Haroon Chairman PEC (Ex MNA) will be the chief guest 1 st ever Mega event at Khuzdar this CAPSTONE will be held on Saturday 2 nd MARCH 2024 from 9 am to 3 pm, at Balochistan University of Engineering and Technology Khuzdar In this Expo 4 Universities are participating with 79 shortlisted projects for showcasing out of which 9 projects funded by PEC PR ISLAMABAD P R In a meeting held today, 29 February, the President of Pakistan Medical and Dental Council (PMDC) Prof Dr Rizwan Taj sat down with the President and CEO of the Accreditation Council for Continuing Medical Education (ACCME) Dr Graham McMahon to discuss the international systems and standards for Continuous Professional Development (CPD) in medical education within Pakistan President PM&DC expressed Pakistan’s dedication to aligning its professional development practices with global benchmarks and standards and to initiate a collaborative program with ACCME This strategic move aims to enhance the skills, knowledge, and competencies of medical professionals within the country, ensuring they remain competitive and competent internationally while creating opportunities for Pakistani educational organizations to attain global recognition and visibility Dr Graham McMahon shared his experience and the role ACCME can play in facilitating Pakistan and supporting the PMDC team as they develop expertise in accreditation of CPD providers PMDC will work closely with ACCME to develop a roadmap in the coming months
hosts 6th
-2024
Shaukat Khanum Memorial Trust (SKMT) has launched its Zakat collection campaign this year with the theme Their Lives Depend On It which aims to highlight the vital role philanthropy plays in supporting treatment of cancer for all patients, especially children On this occasion, Dr Faisal Sultan CEO of SKMT said that a cancer diagnosis brings multiple challenges including emotional and financial costs associated with treatment He explained At our hospitals in Lahore and Peshawar, we provide all-encompassing care to our patients, including physical and psychological support Over the last 29 years, support of generous donors has enabled SKMT to provide quality treatment to deserving cancer patients irrespective of their ability to pay PR
Lahore Business School, under the auspices of the University of Lahore organized a research colloquium and CEO Forum as part of the XPLORE RESEARCH CONFLUENCE WEEK 2024 The event was graced by special guest President Lahore Chamber of Commerce and Industry, Kashif Anwar Head of the Lahore Business School department, Dr Naveed Anwar, along with Dr Rizwan Ali Dr Talat Afzal Dr Muhammad Haris Dr Mahmood Rahmani Dr Akram Naseem Dr Sonia Munir PR
K A R A C H I: in a remarkable feat towards social empowerment Bank Alfalah one of the largest commercial banks in Pakistan is proud to announce the expansion of its partnership with Benazir Income Support Programme (BISP) for digital social cash transfer to 4 4 million women beneficiaries all over Pakistan over the period of next three years With a commitment to uplifting the social and financial empowerment of women Bank Alfalah has been working with BISP for digital social cash transfer programme since 2011 The bank has been entrusted as the single largest Financial Institution to service 4 4mn women beneficiaries (representing 47% of total beneficiaries) Of these total beneficiaries some will be serviced digitally and others though our JV partner bank for digital social cash transfers The bank uses cutting-edge bio-metric geofencing and other digital security techniques in order to manage the largest digital social cash transfer program in the country PR
lifestyle
digital-first generation I S L A M A B A D: Jazz Pakistan’s leading digital operator brings ROX an exciting new digital subbrand tailored to serve as the all-encompassing lifestyle partner of the nation s digital-first generation With a tagline vibe hai (feel the vibe), ROX carries a youthful persona that perfectly resonates with young Pakistanis, with packages and offerings to jibe with their hyper-connected lifestyles Offering a fully digital journey ROX is a digital lifestyle brand that allows users to seamlessly manage their connectivity and rewards It has partnered with leading lifestyle brands like foodpanda, Careem, Bookme, and Golootlo to offer users exciting, exclusive deals and discounts ROX also comes with premium subscriptions to Jazz’s top apps like Tamasha country’s largest homegrown digital entertainment platform Bajao a leading digital music streaming service PR
par tner of Pakistan’s
KARACHI: Faysal Bank Limited (FBL), a leading Islamic financial institution of Pakistan, won accolades at the prestigious 13th Annual CSR Summit and Awards 2024 The Bank has been awarded with ‘Community Impact Award’ and ‘Purpose-Driven Communications Award Further adding to these FBL has also been recognised as the D&I Leader by The Professionals Network Mr Yousaf Hussain President & CEO, Faysal Bank Limited expressed his appreciation for the 13th Annual CSR Summit and Awards and reiterated the Bank’s dedication towards the communities it serves stating “At Faysal Bank we are committed to making a positive difference for all stakeholders and these awards are a recognition of our steadfast commitment towards exemplifying our Islamic values, our substantial contributions towards community welfare, and our diverse and inclusive workplace culture ” PR CDA digitizing all office affairs at a brisk pace I S L A M A B A D: On the direction of Chairman Capital Development Authority (CDA) Member Technology and Digitalization and related departments to speedily digitize all office affairs of CDA In this regard an agreement was signed between CDA and Punjab Information Technology Board (PITB) on Thursday Under this agreement, a modern property management system will be introduced So that the property records of citizens can be helped in computerization as well as their property records can be secured in a modern way According to the details the e-office will be established as per the agreement between CDA and PITB In order to ensure transparency in all information related to the property, It is possible to get rid of record tampering including PR
government attention K A R A C H I: In recognition of Rare Disease Day, Roche Pakistan Limited held a panel discussion and press briefing to raise awareness about rare diseases in Pakistan and to emphasize the unmet needs of patients especially when it comes to awareness funding and government support The panel comprised MD Roche Pakistan Ms Hafsa Shamsie, Roche's Head of Medical, Dr Yasir Adnan as well as paeds neurologist Dr Raman Kumar and hematologist Dr Munira Borhany and Dr Saqib, Director Health Services Health Department Govt of Sindh Ms Hafsa Shamsie MD Roche highlighted the fact that even for those who have been diagnosed the lack of government healthcare spends and support makes the treatment burden for rare diseases even more difficult to bear Rare diseases sufferers are the neglected outliers in Pakistan’s healthcare system PR
Rare diseases need

Gulbar

ISLAMABAD s ta f f R e p o R t

The Secretariat of the National Assembly on Thursday accepted the nomination papers of candidates contesting for the slots of National Assembly Speaker and Deputy Speaker Pakistan Muslim League-Nawaz’s (PML-N) Sardar Ayaz Sadiq submitted his nomination papers for the Speaker of the National Assembly slot while the Sunni Ittehad Council (SIC) nominated Amir Dogar for the same position Pakistan Peoples Party (PPP’s)

Ghulam Mustafa submitted nomination papers for the Deputy Speaker of the National Assembly while Junaid Akbar Khan from the Sunni Ittehad Council (SIC) submitted nominated nomination papers for the same slot

The proposers for Sardar Ayaz Sadiq included Chaudhry Salik Hussain, Abdul Aleem Khan, Syed Naveed Qamar, and Sardar Awais Ahmad Khan Leghari Malik Muhammad Amir Dogar s nomination was proposed by Sahibzada

Sibghatullah, Ali Muhammad, and Dr Amjad Ali Khan

Ghulam Mustafa Shah’s nomination for Deputy Speaker was proposed by Muhammad Raza Hayat Hiraj and Aijaz Hussain Jakhrani

US backs Pakistan’s continued IMF engagement for stabilit y

pRayeR tiMiNgs FA J R S U N R I S E Z U H R A S R M AG H R B I S H A 5 50 6:30 1:30 4:45 6 05 7 45 Friday 1 March 2024 NEWS 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 ISLAMABAD s ta f f R e p o R t Pakistan Tehreek-e-Insaf (PTI) leaders have expressed grave concerns over serious threats to the life and health of Bushra Bibi, the wife of PTI founding chairman Imran Khan who has been put under house arrest in Bani Gala sub-jail Addressing a press conference along with PTI Women Wing President Kanwal Shauzab Naeem Haider Panjutha said that they were not being allowed to meet her because they told the media about her health and food during the last meeting He said that Bushra Bibi wanted to be transferred to Adiala Jail but the authorities concerned were hell-bent to keep her in Bani Gala sub-jail under a lame excuse of security and scarcity of capacity in the jail PTI leader demanded that she had serious health issues due to harmful and substandard food being provided to her in imprisonment; hence her family physician should be allowed for her medical check-up Panjutha pressed that the captain, his family, all the leaders and all the workers, the innocent prisoners should be released immediately He went on to say that PTI Chairmanfor-life and Bushra Bibi were sentenced in Thoshankhana Idat and Al-Qadir Trust cases unjustly and without following due course of fair trail as they even didn t give the right of defence to them in these fake, fabricated and politically-motivated cases He said that all this drama was staged to oust Imran Khan from political scene under the infamous London Plan to spread despondency among masses so as they could not take out to cast their vote However, he said that despite all these fascist tactics and wrong and unjust decisions people came out in droves to bring Imran Khan into power with huge majority once again however, the mandate thieves stole the votes of the people Panjutha stated that all brutal tactics were used to break Imran Khan but all these coercive efforts fell flat He said that the captain and his wife could come out of jail in a minute, but they did not strike a deal and wanted to render any sacrifice for supremacy of the rule of law and constitution in this country Speaking on the occasion, PTI Women Wing President Kanwal Shauzab said that they pinned great hope with February 8 that it would put an end on the reign of terror; however Sultanate Sharifia and Zardaria were created through daylight polls fraud She said that it could not be called a democracy and democratic system as they were imposed on the nation once again fraudulently through polls robbery PTI leader revealed that the way women were harassed and dragged in Pakistan, it never happened in any Islamic state Keeping in view the serious threats to her health and life a request was filed to transfer her to Adiala Jail but it was not entertained, she added Kanwal continued that Bushra Bibi was being targeted through Toshakhana AlQadir Trust and Iddat cases, which was ridiculous, adding that she had been caged in a tiny closed room and was being subjected to political victimisation because she stood like a rock with Imran Khan She lamented that the social and moral fabric of the society were ruined, as Tosha Khana was ruthlessly looted by cabal of thieves but no one raised a question in this regard Bushra Bibi facing serious threats to life; claim PTI leaders ISLAMABAD g h u l a M a b b a s F O L L O W I N G the resolution of a decade-long boundary dispute between Gilgit Baltistan and Khyber Pakhtunkhwa the Gilgit Baltistan (GB) government has initiated demands for the net hydel profit (royalty) and water user charges pertaining to the Diamer Bhasha Dam project predominantly situated within GB s territorial limits from the federal government In a pivotal meeting convened on Thursday in Islamabad, a committee was formed with the specific task of consulting relevant stakeholders to advance initiatives related to the royalty Spanning over 37 thousand acres of land, the project’s construction is progressing rapidly underscoring the federal government s commitment to ensuring its timely completion while addressing present challenges and concerns It is a known fact that the Diamer Bhasha Dam project holds paramount importance for the electricity infrastructure development It is however also important to note that the residents of Gilgit-Baltistan, particularly those in Diamer, have made considerable sacrifices for its realization Initiated at the federal level in 2017 a committee was tasked with delineating boundaries between Kohistan and GilgitBaltistan and determining realignment (Net Head Profit) However the committee primarily focused on boundary delineation The GB government is fervently pursuing a swift resolution to the matters of realignment (Net Head Profit) and water usage charges between the federal government and Gilgit-Baltistan to prevent any impediments to this crucial project In this regard Chief Minister Haji
Khan
the formation of a special committee comprising Provincial Minister for Electricity Mushtaq Ahmed Provincial Minister for Law Sahil Abbas Provincial Minister for Agriculture Engineer Anwar, along
the Secretaries of Law and Electricity This committee is tasked with presenting recommendations within 10 days after visiting Azad Kashmir and Khyber Pakhtunkhwa to discuss the realignment (Net Head Profit) and water usage charges These recommendations will serve as a basis for dialogue between the federal and Gilgit-Baltistan governments The meeting saw the attendance of Provincial Minister for Law Sahil Abbas Provincial Minister for Agriculture Engineer Anwar Chairman Gilgit-Baltistan Investment Board Fatahullah Khan, Provincial Minister for Interior Shams Loon and Special Assistant Maulana Sarwar Shah Additionally Provincial Minister for Excise and Taxation Haji Rahmat Khaliq, Provincial Minister for Forests Haji Shah Beg, Secretary Electricity, Secretary Law and Deputy Commissioner Diamer participated via video link from Gilgit G B G O V T D E M A N D S R O YA LT Y, WAT E R U S E R C H A R G E S F O R D I A M E R B H A S H A D A M g CO M M I T T E E F O R M E D B Y G B G O V T TO CO N S U LT W I T H F E D E R A L G O V T O N N E T H Y D E L P R O F I T PM’s election on Sunday as schedule announced ISLAMABAD s ta f f R e p o R t The National Assembly (NA) Secretariat on Thursday announced the schedule for the election of the prime minister s slot According to details the newly elected MNAs who took oath on Thursday would be voting for the prime minister s slot on Sunday March 3 As per the schedule issued by the NA Secretariat, the premiership aspirants can submit their nomination papers by 2 pm on March 2 “The final list of candidates would be issued after scrutiny of the nomination papers, it added The NA Secretariat said that candidates can collect the nomination papers from the legislation department “The candidates are asked to submit their nomination papers to the NA Secretariat the schedule read It is pertinent to mention here that Shehbaz Sharif has been nominated by the Pakistan Muslim League-Nawaz (PMLN) Pakistan People s Party (PPP) and other allies for the slot While the Sunni Ittehad Council (SIC) named Omar Ayub as its candidate for the prime minister ’s slot
caretakers jack up petrol price by Rs4.13/litre PR OFIT N e w s D e s k The caretaker government which is about to hand over power to a new elected government raised the petrol price by Rs4 13 per litre on Thursday, adding more burden to the people suffering from high inflation According to the Finance Division the new petrol price will be Rs279 75 per litre until March 15 while the high-speed diesel price will remain at Rs287 33 per litre The prices of petroleum products are updated every 15 days in Pakistan based on the global oil prices and the rupee-dollar exchange rate This was the third hike by the interim government, which has been the longest-serving caretaker set-up in the country’s history Earlier Profit reported that the hike was expected due to the increase in global oil prices amid rising demand and ongoing conflicts in the Middle East Punjab Assembly approves Rs358bn budget for March amid opposition protest PR OFIT N e w s D e s k The Punjab Assembly in a session held on Wednesday, passed a budget of Rs358 billion for the month of March to cover the provincial government’s current expenditures The approval came amidst objections and protests from the opposition The budget aims to finance the day-to-day operations of the province, including the salaries of government employees medical supplies for hospitals and other departmental expenses The budget was presented under Rule 125 of the provincial assembly s rules of business due to the absence of a formed cabinet by Chief Minister Maryam Nawaz Marriyum Aurangzeb who tabled the motion emphasized the necessity of the one-month budgetary measures for uninterrupted provincial governance Opposition voices, led by Rana Aftab Ahmed Khan from the Sunni Ittehad Council (SIC) raised concerns over the lack of budget details shared with the assembly members and the absence of a finance minister to officially present the budget Despite these objections Speaker Malik Muhammad Ahmed Khan confirmed the assembly s authority to pass the budget under the current circumstances, leading to its approval amidst the tearing of agenda copies by opposition members The session which marked the second sitting of the 18th house began three hours late and saw the participation of Chief Minister Maryam Nawaz and opposition members, the latter donning black armbands in protest
announced
with
Outgoing
PR OFIT M o N i to R i N g D e s k The United States has recommended that Pakistan continue its efforts with the International Monetary Fund (IMF) and other global financial bodies to undertake macroeconomic reforms for economic stability This advice follows a request from the political party Pakistan Tehreek-e-Insaf (PTI), advocating for an IMF audit of the 2024 elections to ensure political stability ahead of discussions on a new bailout package PTI leader Barrister Gohar Khan disclosed that a letter from Imran Khan’s spokesperson to the IMF emphasizes the party’s desire to avoid negative economic impacts and insists on a commitment to a free and fair election process In response to questions about PTI s approach and concerns over election integrity, US State Department Spokesperson Matthew Miller highlighted the importance of Pakistan s economic reform and stability He supported Pakistan s collaboration with the IMF and other institutions for necessary economic adjustments Pakistan previously avoided default with a short-term IMF bailout with a pressing need for a new agreement to maintain stability as the program concludes in April The IMF has recognized Pakistan’s efforts towards economic stability emphasizing adherence to fiscal targets and protection for the vulnerable While the IMF has not commented directly on the political aspects of PTI s request, the focus remains on Pakistan’s path to macroeconomic stability and prosperity
Akbar ’s nomination was proposed by Muhammad Sanaullah Khan Masti Khel Muhammad Riaz Khan Fatiyana, and Mehr Ghulam Muhammad Lali The election for the Speaker and Deputy Speaker of the National Assembly is scheduled to take place on Friday P E RV E Z A S H R A F, A M I R D O G A R E X C H A N G E W O R D S I N 1S T N A S E S S I O N: Speaker National Assembly Raja Pervez Ashraf and MNA Malik Amir Dogar exchanged hot words during the first NA Session on Thursday After national anthem when Pervez Ashraf announced oath taking of MNAs the members of Sunni Ittihad Council (SIC) started protest in front of Speaker ’s dice When Speaker NA started taking oath Malik Aamir Dogar came nearer to him and used strict words Dogar addressing Speaker NA Pervez Ashraf said, “How can you can oath when SIC members are not present at their seats The Speaker NA got calm over Dogar s arguments and gave opportunity to protesting members to get their seats Nomination
PR OFIT N e w s D e s k Resolving any ambiguity Pakistan Hotels Developers Limited (PHDL) has announced that the transfer of the Regent Plaza Hotel building to the Sindh Institute of Urology and Transplantation (SIUT) is anticipated to be finalized by May 2024 contingent upon fulfilling all stipulations outlined in the sale agreement PHDL disclosed in its quarterly report to the Pakistan Stock Exchange (PSX) on Thursday that it had received Rs1 45 billion as a partial payment towards the sale This disclosure indicates that the deal might finally be going through Following this announcement, PHDL’s share price rose by 7 50% on Thursday moving from Rs 435 per share to Rs 468 69 per share However the book value is approximately Rs 790 per share, given that the company’s equity stands at Rs 14 3 billion and it has 18 million shares in circulation Should the deal proceed according to the sale agreement, it could trigger an increase in the share price, aligning it closer to the share’s actual book value It is better to recall that the PHDL had entered into an agreement with SIUT on November 14, 2023, for the sale of Regent Plaza Hotel land and building for a lump sum sale consideration of Rs14 5 billion The transaction was initially scheduled to conclude after a three-month period, ending on February 11, 2024 Nonetheless, on February 12 the parties mutually consented to a 90-day extension of the sale completion deadline from the original deadline to May 11, 2024 Additionally PHDL saw a 28% increase in revenue to Rs 85 million and a 190% increase in net profits to Rs 87 million during the six months (JulyDec) CY2023 as compared to the same period of last year This increase was mainly due to the interest income earned by the company on the deposit of advance against the sale of property Furthermore during this review period PHDL contributed Rs 70 million towards sales tax and other governmental levies Regent Plaza’s transfer to SIUT to be completed by M ay 2024 g P H D L A N N O U N C E S R S1 45 BI L L I O N PA RT I A L PAYM E N T R E C E I V E D, A I M I N G FO R S H A R E H O L D E R VA LU E B O O S T
Junaid
papers of Ayaz S adiq, Amir D ogar accepted for NA S peaker

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