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Pfor the people of Pakistan for our friendship but our mutual cooperation, Sharif said duri n g a n i n t e r v i e w w i t h X i n h u a h e r e a t t h e P r i m e M i n i s t e r ’s O ff i c e , t h e f i r s t e x c l u s i v e o n e w i t h f o r e i g n m e d i a s i n c e h i s i n a u g u r ation “For me it’s a very good start ” This year marks the 73rd anniversary of the establishment of diplomatic relations bet w e e n C h i n a a n d P a k i s t a n S h a r i f s a i d t h a t o v e r t h e p a s t 7 0 - p l u s y e a r s , t h e l e a d e r s o f Pakistan and China have continuously culti-

vated and promoted bilateral friendship The two countries have developed into allweather strategic cooperative partners with a unique friendship like iron brothers that has stood the test of time This friendship now must achieve higher heights, he added Sharif, 73, served three terms as chief minister of Pakistan’s eastern Punjab province and has extensive experience in regional economic development and governance When talking about Chinese modernization Sharif said Pakistan should emulate the model It is a great success model and success story,” the prime minister said, recalling how generations of visionary Chinese leaders have led their people to create unprecedented development miracles lifting hundreds of millions of people out of poverty and providing vast rural populations with access to education healthcare

‘Reser ved Seats Case’: PHC asks whether or not SIC is a political par t y

Imran granted right to appeal in cypher case

ECP to hold by-polls to NA , provincial seats on April 21

S ta f f R e p o R t

The Election Commission of Pakistan (ECP) will hold by elections on vacant national and provincial assembly seats, on April 21 The election commission has announced its schedule of by elections on vacant assemblies seats across the country The electoral body will hold elections on six National Assembly seats two seats each of KP and Balochistan assemblies and 12 vacant seats of Punjab Assembly The candidates could submit their nomination papers from 16-18 March and preliminary list of candidates will be displayed on March 18 election commission said The scrutiny of nomination papers will be conducted on March 21 It is pertinent to mention here that the People s Party has decided to field Aseefa Bhutto Zardari as its candidate on the National Assembly seat vacated after Asif Ali Zardari s election as the President of Pakistan The Senate by election on six vacant seats from Islamabad, Sindh and Balochistan on Thursday March 14 (tomorrow) According to the election commission polling will be held at the upper house of parliament as well as at Sindh and Balochistan assemblies in Karachi and Quetta from 9:00am to 4:00pm on Thursday Among these general category seats one fall vacant in the federal capital two in Sindh and three in Balochistan as senators relinquished their seats following their election as members of the National Assembly as well as provincial assemblies of Sindh and Balochistan

Gandapur hopeful of solution to KP ’s woes af ter ‘positive’ talks with PM

In par tnership with Profit T h u r s d a y, 1 4 M a r c h , 2 0 2 4 I 3 Ra m a z a n , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 2 5 6 I 8 Pa g e s I I s l a m a b a d E d i t i o n ISLAMABAD S ta f f R e p o R t
A K I S TA N a n d C h i n a w i l l c a r r y s h a r e d v a l u e s a n d m a r c h t o w a r d shared development, prosperity, and progress together Pakistani Prime M i n i s t e r S h e h b a z S h a r i f d e c l a r e d C h i n e s e P r e s i d e n t X i J i n p i n g c o n g r a t u l a t e d Sharif on his election as prime minister of the Islamic Republic of Pakistan on March 3 In his response, Sharif thanked Xi for his warm c o n g r a t u l a t i o n s a n d c o n t i n u e d s u p p o r t f o r Pakistan I d e e p l y v a l u e h i s s e n t i m e n t s n o t o n l y
and employment Sharif said Chinese modernization has created growth centers and sectors competitive in the global market “Despite challenges in recent years China’s growth has still gone steadily compared to other countries which is a remarkable achievement he added The prime minister said Pakistan could learn from the model to alleviate poverty boost youth employment and encourage small and medium entrepreneurship in agricultural, industrial, and information technology sectors across urban and rural areas Noting that Pakistan is among the first batch of countries joining the Group of Friends of the Global Development Initiative (GDI) Sharif said that Pakistan fully and firmly supports the GDI and Global Security Initiative He believes such initiatives will strengthen the bond among global communities Noting that projects under the Belt and Road Initiative span across continents Sharif said they contributed to alleviating poverty reducing hunger facilitating investment and promoting education and health There couldn t have been a better model for forging global societies together Sharif said As a prominent project under the Belt and Road Initiative, the China-Pakistan Economic Corridor (CPEC) was featured in Sharif ’s first parliamentary speech after reelection Pakistan is now ready to move toward the second phase of CPEC Sharif said aiming to promote technological development and agriculture through the corridor Pakistan has established the Special Investment Facilitation Council, which will cut red tape and remove delays and inefficiencies for CPEC projects Sharif said PM REAFFIRMS COMMITMENT TO SINO-PAK MARCH TOWARD SHARED VALUES, PROSPERIT Y ISLAMABAD S ta f f R e p o R t Khyber-Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur on Wednesday said he had very positive talks with Prime Minister Shehbaz Sharif on public and provincial issues, law and order and other matters, saying the Premier assured him of a meeting with the incarcerated PTI founder at Adiala Jail “I told him that political engagement with Khan sahib is very necessary to resolve political issues He was very positive and told me plainly he would make my meeting possible so I can complete consultations regarding the Senate election,” Gandapur said of his meeting with PM Shehbaz Talking to the media alongside Planning Minister Ahsan Iqbal the KP CM stressed the need for resolution of public issues together and the need for the federal and provincial governments to deliver “We had good talks It was very positive He assured that he would fulfil his promise and would not lie Gandapur said about PM Shehbaz Gandapur highlighted the key discussions centered around law and order, public issues and the economic challenges faced by the province The KP chief minister said he discussed the upcoming Senate election with the premier, emphasising the importance of addressing security concerns and facilitating a meeting with PTI founder Imran Khan, who holds significant influence in the electoral process The prime minister committed to making the meeting possible in the Adiala Jail and ensuring a smooth electoral process Gandapur expressed satisfaction with the meeting, emphasising that it was his first encounter with the prime minister He disclosed that talks had been held on critical matters and Prime Minister Shehbaz had assured full cooperation Speaking on the occasion Planning Minister Ahsan Iqbal also expressed his positivity on the talks between Prime Minister Shehbaz Sharif and KP CM Ali Amin Gandapur, saying that the premier had reassured the CM that the province s dues would be fulfilled by the federal government He said the prime minister had obligated officials of the finance ministry to sit down with KP officials on the matter of dues to the province Planning Minister Ahsan Iqbal has said that Prime Minister Shehbaz Sharif has ordered a continuous joint team between the federal and Khyber Pakhtunkhwa governments that would work with the Centre to solve the province s issues The summary of today s meeting is in two words: we all have our own politics but the state is together, Iqbal said Iqbal said the prime minister also gave instructions regarding difficulties faced by the people during sehar and iftar in KP MEETING WITH PREMIER The meeting also included Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Federal Minister for Planning Ahsan Iqbal Federal Minister for State and Border Affairs Amir Muqam, and other senior government officials One of the primary points of discussion was the payment of arrears the Centre owed to Khyber-Pakhtunkhwa Gandapur acknowledged the economic challenges faced by Pakistan but asserted that realistic demands would be made with the Centre, considering the current conditions
ISLAMABAD S ta f f R e p o R t The Islamabad High Court (IHC) has dismissed a prayer contending that former prime minister Imran Khan and former foreign minister Shah Mahmood Qureshi do not have the right to appeal against their conviction in the diplomatic cypher case The court will hear the appeals of the PTI leaders “on merit” on March 18 A special court on January 30 convicted Imran and Qureshi in a case related to the misuse of a diplomatic cypher during the final days of the PTI government in March 2022 and sentenced them to ten years in prison each under the Official Secrets Act (OSA), 1923 The PTI leaders filed appeals against their conviction in the IHC where the Federal Investigation Agency (FIA) the prosecution in the case argued that the PTI leaders did not have the right of appeal against their conviction When a division bench, comprising IHC Chief Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb resumed hearing the case on Wednesday FIA Special Prosecutor Hamid Ali Shah stated that the right of appeal is not provided in the OSA, 1923 An appeal can be considered a continuation of a trial only if the relevant act provides for it If there is no right of appeal in the law the matter concludes with the trial he said PTI s lawyer Barrister Salman Safdar responded to the objections raised by the FIA s special prosecutor He said that while the OSA, 1923 does not mention an appeal, the procedure and process have been outlined He argued that an appeal against a conviction is a continuation of a trial Safdar referred to the high treason case filed against General Pervez Musharraf in 2013 for subverting the Constitution through the imposition of emergency He also cited various other judicial precedents He stated that there is no right of appeal in the high treason case but Musharraf was given the right in the Supreme Court under the criminal law The Supreme Court ruled that even convicted individuals have the right to appeal In light of the Supreme Court’s decision convicted individuals cannot be deprived of the right to appeal he said After hearing the arguments the court dismissed the FIA s prayer It announced that it will hear the appeals on merit on March 18 Additionally the IHC issued a notice to the Adiala Jail superintendent while hearing a petition filed by the PTI against the Punjab government s decision to impose a twoweek ban on meetings with prisoners at the jail due to security threats A single-member bench of the IHC comprising Justice Arbab Muhammad Tahir heard the petition During the hearing Lawyer Shair Afzal Marwat stated that the Punjab government imposed restrictions on meetings with Adiala Jail prisoners, including PTI founder Imran Khan, citing security threats He argued that the Punjab Home Department does not have the authority to impose such restrictions as the jail superintendent has the authority to make decisions regarding jails
ISLAMABAD
S ta f f R e p o R t The Peshawar High Court (PHC) on Wednesday asked whether the Sunni Ittehad Council (SIC) was a political party or not wondering whether it could take part in the elections for president Senate National Assembly speaker and deputy speaker and if it could have its member made an opposition leader The PHC larger bench observed that the method for a list of reserved seats was not clear in the law, again asking the Attorney General of Pakistan (AGP) if the SIC was being considered a political party The observation was made by the larger bench of the PHC led by Justice Ishtiaq Ibrahim and comprising Justices Ijaz Anwar SM Attique Shah Shakeel Ahmed and Syed Arshad Ali which resumed hearing on the SIC s petition about the allocation of reserved seats Qazi Anwar represented the SIC while Farooq H Naek was the lawyer for the PPP a respondent in the case PPP leaders – Faisal Karim Kundi and Nayyer Bukhari also reached the PHC while Azam Swati was present from the PTI s side AGP Mansoor Usman Awan after failing to appear during the previous hearing, appeared before the court on Wednesday, as well as ECP lawyer Sikander Basheer Momand The SIC joined by PTI-backed independents who won the elections sans their electoral symbol has challenged the Election Commission of Pakistan’s decision to reject the party allocation of reserved women and minority seats In a 4-1 verdict earlier this month the electoral watchdog ruled that the SIC was not entitled to claim quota for reserved seats due to having non curable legal defects and violation of a mandatory provision of submission of party list for reserved seats which is the requirement of law” The commission had also decided to distribute the seats among other parliamentary parties with the PML-N and the PPP becoming major beneficiaries Meanwhile, the verdict was rejected by the PTI as unconstitutional g S a y s t w o c o u n t r i e s d e v e l o p e d i n t o a l l -w e a t h e r s t r a t e g i c p a r t n e r s w i t h u n i q u e f r i e n d s h i p
E x p r e s s e s g r a t i t u d e t o X i f o r h i s w a r m c o n g r a t u l a t i o n s, c o n t i n u e d s u p p o r t f o r Pa k i s t a n g S a y s S h e h b a z S h a r i f a s s u r e d h i m o f f a c i l i t a t i n g a m e e t i n g w i t h P T I f o u n d e r i n A d i a l a ISLAMABAD S ta f f R e p o R t Prime Minister Muhammad Shehbaz Sharif has said that his government to ensure implementation of China-Pakistan Economic Corridor (CPEC) initiatives within stipulated time period will leave no stone unturned Speaking during his meeting with Ambassador of the People s Republic of China Jiang Zaidong who called on him at the Prime Minister ’s House on Wednesday he stressed that Pakistan was keen to move to the next phase of CPEC including operationalisation of the Special Economic Zones (SEZs) to facilitate Chinese investment in Pakistan Foreign Minister Senator Muhammad Ishaq Dar, Minister for Planning, Development and Special Initiatives Dr Ahsan Iqbal Special Assistant to the Prime Minister Syed Tariq Fatemi and the foreign secretary also attended the meeting The prime minister said the Special Investment Facilitation Council (SIFC) had been created during his previous tenure to attract foreign investment in priority sectors including agriculture IT minerals and renewable energy He said Chinese companies would find many profitable opportunities in Pakistan The prime minister thanked President Xi Jinping and Premier Li Qiang for their warm messages of greetings on his re-election and assumption of office
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CPEC initiatives to be ensured in stipulated time: PM Shehbaz

DHaleem Adil urges ban lifting from meeting Imran Khan in Adiala Jail

Thursday 14 March 2024 ISLAMABAD 02 NEWS
KARACHI S ta f f R e p o R t PTI Sindh President Haleem Adil Sheikh demanded on Wednesday to lift the ban imposed on meeting party founder Imran Khan incarcerated in Rawalpindi s Adiala jail and highlighted the threats to the former premier ’s life “Meetings with Imran have been banned after some terrorists were arrested a few days back Party leaders and I have a meeting scheduled with Imran tomorrow and we must not be barred Otherwise the entire nation will gather outside the prison We do not want to risk Imran s life as the country cannot undergo further tests,” warned the PTI leader while speaking to the media outside the Sindh High Court (SHC) Referring to alleged rigging during the February 8 elections the PTI leader said his counsel Barrister Ali Tahir filed a petition in the election tribunal regarding poll fraud in NA-238, claiming he won the seat with a lead of over 75,000 votes against his rival MQM-P candidate “This issue is not just about obtaining a mandate but safeguarding the votes of the general public who came out to vote said Adil and added that every Pakistani citizen has the right to vote, and we are here to restore that right in the courts He maintained that they would not give up and “this was just the beginning” Adil added that the PTI will move the Supreme Court to retain their stolen mandate and said that an FIR was lodged against Returning Officer Qazi Farooq Ahmed and District Returning Officer Altaf Sheikh of his constituency under Section 22A 22 seats in the National Assembly, two in Hyderabad and 38 in our provincial assembly have been stolen People of Karachi voted for Imran on Feb 8 but our mandate was stolen on Feb 9 under a conspiracy said Adil Taking a jibe at the PPP government in Sindh the PTI leader said that the province has been handed over to extortionists, bloodshedders and target killers”, adding that PTI bagged more than one million votes from Karachi and that Imran’s party will always stand with the people of the port city Adil also announced that PTI has decided to call a march aimed at reclaiming Karachi s stolen mandate backed by a million-march scheduled after, adding that the party core committee will announce the date formally soon “We will mobilise our one million voters for a day We will march legally after getting permission he added Adil concluded by saying that the matter of rigged elections will also be taken in the public courts and vowed to reclaim the stolen mandate and free Imran from prison ISLAMABAD S ta f f R e p o R t
R Musadik Malik has officially assumed the office of the Federal Minister for Energy and directed to ensure uninterrupted gas and electricity supply to the consumers during the Iftar and Sehar timings of the ongoing holy month of Ramzan In his inaugural address, Malik underscored the government’s commitment to prioritizing the welfare of its citizens especially during challenging times Amidst a warm welcome from senior officials of both petroleum and power divisions, Dr Malik outlined his vision for the energy sector, highlighting reforms as a key priority of the current administration “Despite the difficult situation the people are the focus of the government’s policies and facilitation of the people is our foremost priority stated the energy minister Dr Malik brings a wealth of experience to his new role having previously served as the petroleum minister during the Shehbaz Sharif government His tenure witnessed significant milestones including Pakistan s historic procurement of crude oil from Russia last year Dr Malik’s academic background includes a Doctor of Philosophy and Master of Science in Healthcare Administration and Policy from the University of Illinois complemented by an MBA He has also provided advisory services to oil-rich Middle Eastern countries like Saudi Arabia on various economic and social matters SHAZA KHAWAJA BECOMES MINISTER OF STATE FOR IT, TELECOM Meanwhile, Ms Shaza Fatima Khawaja, the lone woman member of the Shehbaz Sharifled cabinet, assumed the position of Minister of State for Information Technology (IT) and Telecommunication Shaza is a niece of incumbent defense minister Khawaja Asif and previously served as special assistant to the prime minister (SAPM) on youth affairs A distinguished academic and former special assistant to the prime minister on youth affairs Ms Khawaja brings a blend of expertise and experience to her new role With a background in International Relations and Political Science, she has previously taught at the prestigious Lahore University of Management Sciences (LUMS) M U S A D I K M A L I K A S S U M E S O F F I C E A S M I N I S T E R F O R E N E R G Y PR OFIT M o n i to R n g D e S k The Punjab government has officially sanctioned the ambitious Nawaz Sharif Innovation City in Lahore, pledging a whopping Rs 100 billion to the initiative expected to create a million job opportunities According to media reports this groundbreaking project promises to revolutionise Lahore potentially turning it into the driving force of the province s economy The project, which had been on hold since the tenure of former Chief Minister Shehbaz Sharif, is now gaining momentum The Lahore Knowledge Park Company which was previously managing the project has passed the baton to the Punjab Central Business District Development Authority, and the project has been rebranded as ‘Nawaz Sharif Innovation City’ Chief Minister Maryam Nawaz Sharif has granted her approval and allocated Rs10 billion as initial funding The innovation city is designed to be a multifaceted hub with distinct zones dedicated to IT, education, film, and residential and commercial activities The IT zone will be a sprawling 200-acre district poised to become the nation s first major IT and technology center, complete with cutting-edge facilities to nurture IT product development and services It aims to attract leading IT corporations and prestigious global educational institutions The education zone will focus on forging partnerships with international universities to enhance the quality of education and research Meanwhile, the film zone is set to house modern studios and production facilities creating a vibrant entertainment ecosystem The residential and commercial zone will offer contemporary living spaces and amenities, supported by a robust infrastructure that includes roads water and sewage systems as well as parks and green areas Additionally the project will feature special economic zones with a decade-long tax holiday It is expected to draw in investments worth Rs 400 billion through public-private partnerships and joint ventures Punjab govt greenlights Rs100b Nawaz S harif Innovation C it y g P R O J E C T A I M S TO G E N E R AT E O N E M I L L I O N J O B S A N D T R A N S F O R M L A H O R E ’ S E CO N O M I C L A N D S C A P E g S H A Z A FAT I M A K H AWA J A AS S U M E S P O S I T I O N O F M I N I S T E R O F S TAT E FO R I N FO R M AT I O N T E C H N O LO GY A N D T E L E CO M MU N I C AT I O N PR OFIT M o n to R i n g D e S k Eighteen Pakistani textile companies made a strong impression at the Yarn Expo Spring 2024 and Intertextile Shanghai Apparel Fabrics-Spring Edition 2024, two of the world’s most influential textile and apparel exhibitions held here The Pakistani contingent representing a diverse range of textile manufacturers and suppliers, showcased their latest products and innovative technologies, attracting significant interest from global buyers, China Economic Net (CEN) reported Participating companies spanning the yarn fabric finished goods segments and accessories exhibited a wide array of highquality products, including cotton, polyester, blended yarns, wool carpets and specialty fabrics Pakistan’s textile industry has long been renowned for its quality, competitiveness and ability to meet the evolving demands of the global market Hussain Haider Consul General of Pakistan in Shanghai while talking to China Economic Net at the expo expressed his pride and optimism regarding the strong participation of Pakistani textile companies at the two major exhibitions Highlighting the significance of the presence of the Pakistani textile industry at the expo he stated that it was a testimony to the rich textile heritage of the country and its commitment to innovation and quality Pakistan s textile industry has emerged as a leading exporter, generating $1 9 billion in annual exports consolidating its position as the largest industry in the country ” the Consul General pointed out Pakistani textiles are known for their competitive pricing, making them an attractive option for buyers seeking quality products at affordable prices This competitiveness is backed by the country’s skilled workforce efficient manufacturing processes and strong supply chain network He further spoke about the growing collaboration between Pakistan and China in textile trade, highlighting Chinese investment in Pakistan, the exchange of technological know-how and Pakistan’s intention to learn from China’s innovation and management skills He also emphasized the potential application of artificial intelligence (AI) in the textile industry In addition, the Consul General highlighted the role of exhibitions like Yarn Expo and Intertextile Shanghai in promoting trade and cooperation between Pakistan and China He said that such platforms provide excellent opportunities for Pakistani companies to network with industry peers explore business opportunities learn new trends expand exports and strengthen their global presence It is worth mentioning that many companies highlighted their eco-friendly manufacturing processes and commitment to sustainability, aligning with the global trend towards more environmentally conscious production by showcasing their sustainable products Nadeem Waqar Marketing Manager Kohinoor Mills Ltd highlighted the need to adopt environmentally friendly manufacturing processes, use sustainable materials and reduce waste He also stressed the importance of collaboration and partnership among industry players to achieve a more circular and sustainable textile economy With China announcing further measures to expand its imports and providing a significant boost to Pakistan’s textile exports which now enjoy zero tariff treatment in line with the China-Pakistan Free Trade Agreement Phase 2 Moshin Khan from Reliance Weaving Mills Ltd saw a significant opportunity for Pakistani textiles to capture a larger share of the market “Pakistan has long been a reliable supplier of quality textiles to China and the two countries share a deep understanding of the industry s challenges and opportunities We are confident that the industry will benefit from this trend and continue to grow and prosper, he added The exhibitor ’s optimistic outlook was echoed by other Pakistani textile representatives at the exhibition They shared stories of successful collaborations with Chinese companies and discussed potential areas for future cooperation g CO N T I N G E N T E X H I B I T S I T S L AT E S T P R O D U C T S A N D I N N O VAT I V E T E C H N O LO G I E S , AT T R A C T I N G S I G N I F I C A N T I N T E R E S T F R O M G LO B A L B U Y E R S PR OFIT S ta f f R e p o R t As the holy month of Ramadan kicks off across the country the Liquefied Petroleum Gas (LPG) once again comes in high demand due to irregular supply of natural gas However, the LPG is reportedly being sold at exorbitantly high prices leading to public dismay Even after OGRA had fixed the LPG price at Rs 257 per kilogram for the month of March 2024 the fleecing of the LPG consumers is continued amid the holy month of Ramadan as LPG is being sold at excessive prices of Rs 300/KG to Rs 320/KG in various areas of the country The Oil and Gas Regulatory Authority (OGRA) has asked the Provincial Chief Secretaries to direct local governments to ensure the sale of LPG on OGRA prescribed prices to the end consumers Taking notice of the illegal hike in LPG price, the OGRA on Wednesday asked the Provincial Chief Secretaries to take strict action and ensure the sale of LPG at OGRA prescribed prices to end consumers According to OGRA the authority has taken notice of the market reports regarding a surge in LPG prices even though ample stocks of LPG molecules are sufficiently available in the country The OGRA has also instructed the local governments to take immediate necessary action against illegal hoarders Additionally OGRA Enforcement teams are already in the field to monitor the stocks and ensure sale of LPG on prescribed prices OGRA says that an initial scrutiny of the matter reveals that hoarding of LPG stocks is the primary cause of the artificial increase in LPG prices It adds that some unscrupulous elements are artificially restraining the stock from consumers approach and are selling the product beyond OGRA prescribed LPG prices Perturbed over the artificial price hike of LPG, Chairman LPG Industries Association Pakistan, Irfan Khokhar, said that LPG is not available anywhere in the country at official prices in the month of Ramadan He revealed that LPG is being sold at Rs 300 to Rs 320 per kg in the plain areas of the country while LPG is being sold at Rs 400/KG in the hilly area (Gilgit-Baltistan) and remote areas He said that the black market of LPG can be controlled by increasing the local production of LPG The country has a daily production of 6,000 metric tons of LPG while local consumption exceeds 150,000 tons 60 percent of the domestic demand is being fulfilled with imported LPG Due to the closure of the LPG plant of Jamshoro Joint Venture Limited (JJVL), the government is facing a loss of billions of rupees and people are forced to buy expensive gas, said Irfan Khokhar The LPG Industries Association hence demands from the government that the LPG plant of JJVL should be run immediately to avoid further losses Irfan Khokhar added L P G b e i n g s o l d at exo r b i t a nt p r i ce s a m i d h i g h d e m a n d i n R a m a z a n g O G R A F I X E D L P G P R I C E AT R S 257/ KG W H I L E I T I S B E I N G S O L D AT R S 300 TO R S 320 P E R KG
Pakistani companies showc ase textile exper tise at Yarn Expo in China TMAs, AD Local Gov t , Area Development authorities directed to register with KPRA PESHAWAR S ta f f R e p o R t The Secretary of the Khyber Pakhtunkhwa Local Government Department has directed all TMAs Assistant Director Local Government And Local Area Development Authorities to register themselves with KPRA and start tax compliance with the Authority The directions were issued during a meeting between the Secretary of Local Government, Mr Dawood Khan, and the Director General of Khyber Pakhtunkhwa Revenue Authority Miss Fouzia Iqbal who visited his office along with her team to discuss issues related to TMAs Local Area Development Authorities, and AD Local Government The Secretary of Local Government welcomed the KPRA team to his office DG KPRA informed the Secretary of Local Government about the domain of KPRA and mentioned that the majority of the TMAs Local Area Development Authorities, and AD Local Governments are not yet registered with KPRA Additionally, those who are registered are not fully compliant with the withholding of sales tax on services and subsequent submission of the withheld tax to KPRA The DG KPRA thanked the Secretary of Local Government and his team for providing the opportunity and time for the KPRA team to come and present their issues The Secretary of Local Government directed all TMAs, Local Area Development Authorities and AD Local Government entities that are not yet registered with KPRA to complete their registration within three days and commence tax compliance Additionally, the Secretary instructed his team to enhance compliance levels and begin sharing data regarding revenue and expenditures with KPRA It was also agreed that KPRA will arrange training and awareness sessions for officials of the TMAs Local Area Development Authorities and AD Local Government on sales tax on services and withholding regulations Assefa to ‘contest’ by-election from NA-207 ISLAMABAD S ta f f R e p o R t The late prime minister Benazir Bhutto’s daughter Assefa Bhutto Zardari will contest the by-election from National Assembly Constituency NA-207 Nawabshah The NA-207, Nawabshah, seat was vacated by PPP co-chairman Asif Ali Zardari, after taking oath as country’s president for the second time in history The constituency for Assefa Bhutto was selected after consultation with the family Assefa Bhutto Zardari will be the PPP s candidate for the by-polls on the NA-207 seat Earlier it was reported that Assefa Bhutto Zardari would likely contest a by-election on NA-196, a seat vacated by her brother Bilawal Bhutto Zardari
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the money on development instead The country also plans to acquire clean energy technologies from China and others Sharif said he looks forward to revisiting China, calling it a tradition for Pakistan’s new leadership after inauguration China is our second home he said We made solemn commitments that we would work together said Sharif, and we would be together through thick and thin

Gandapur hopeful of solution to KP’s woes after ‘positive’ talks with PM

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a comprehensive action plan within a month to address the financial disparities with the federal government The plan will involve compiling relevant documents to strengthen the province’s case Furthermore the CM emphasized utilizing all available legal and constitutional avenues to secure the province s rightful dues He also directed the formation of an expert team to effectively negotiate with the federal government The Chief Minister did not rule out seeking legal recourse if the matter remains unresolved

CPEC initiatives to be ensured in stipulated time: PM

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He reciprocated the warm sentiments expressed by the Chinese leadership and lauded their contribution and commitment to the strengthening of the iron-clad friendship between Pakistan and China The Chinese Ambassador reaffirmed that the Chinese leadership and government was looking forward to further deepening of PakistanChina friendship In this regard he reiterated the invitation extended to the prime minister to undertake an official visit to China at his earliest convenience While accepting the invitation, the prime minister said that he would undertake the visit at a mutually convenient date that would be worked out through diplomatic channels

Thursday 14 March 2024 ISLAMABAD NEWS 03 P M S H A H B A Z E X T E N D S U T I L I T Y S T O R E H O U R S D U R I N G R A M A Z A N T I L L 1 0 P M PR OFIT N e w s D e s k Bears extended their dominance at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index experienced another day of significant downturn plunging by approximately 750 points on Wednesday This decline added to the previous day s losses, marking a concerning trend for the market According to the PSX website, the benchmark index fluctuated within a narrow range but a wave of selling emerged in the last trading hour closing the index at 64 048 44 points a drop of 753 26 points or 1 16% The index even touched an intraday low of 63,856 51 Sectors such as refineries, automotive and cement industries were hit hard showing significant losses Analysts suggest that the late selloff was driven by investor caution in anticipation of the upcoming monetary policy announcement from the State Bank of Pakistan (SBP) scheduled for Monday In the political arena, Pakistan’s new government is gearing up for negotiations with the International Monetary Fund (IMF) amid speculations that another financial rescue package will be a key topic of discussion The IMF delegation is set to arrive in Pakistan for the final review of a $3billion standby agreement Successful completion of this review which starts on Thursday could unlock a disbursement of about $1 1 billion The stock market s volatility is largely attributed to the uncertainty surrounding the central interest rate Just the day before, the PSX witnessed intense selling pressure causing the KSE-100 Index to fall below the 64 801 70 mark by over 900 points which analysts described as a much-needed technical correction
extend dominance as PSX plunges
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Bears
over
launches probe into circulation of misprinted currency notes PR OFIT N e w s D e s k In an unexpected turn of events the State Bank of Pakistan (SBP) initiated a thorough investigation to determine the entry of erroneously printed Rs 1,000 banknotes into the financial system The incident came to light when a Karachi-based bank branch encountered a small batch of these notes with at least four confirmed cases of the misprint affecting one side of the currency A video surfaced on social media, showcasing the defective notes, sparking widespread concern over the possibility of counterfeit currency in circulation Addressing the public s alarm the SBP clarified that the situation stemmed from a printing error not counterfeiting Nonetheless the central bank has pledged to conduct an in-depth inquiry to prevent recurrence Noor Ahmed, the Chief Spokesman for the SBP, emphasised the stringent measures in place for currency production attributing the incident to a rare lapse in the printing process He reassured that the banknotes numerous security features make it straightforward to verify their authenticity Ahmed further advised that holders of such misprinted notes could seamlessly exchange them at any commercial bank or through the 16 branches of the SBP-Banking Services Corporation ISLAMABAD s ta f f R e p o R t P R I M E M I N I S T E R Shahbaz Sharif has taken proactive measures to enhance convenience for citizens during Ramadan ordering the extension of working hours for utility stores until 10 pm as part of the Ramadan package The directive aims to provide greater accessibility to essential goods for citizens during the holy month Under the new arrangement utility stores will remain open until 10 pm after Iftar following orders issued to Zonal and General Managers for immediate implementation Additionally, Prime Minister Shahbaz Sharif announced a daily iftar allowance of 500 rupees for utility store employees until Chand Raat further enhancing support for those serving during Ramadan In a surprise visit to various utility stores in Islamabad Prime Minister Shahbaz Sharif personally reviewed the distribution process of the Ramadan relief package and interacted with beneficiaries He expressed his commitment to addressing any challenges faced by citizens in obtaining the Ramadan package emphasizing the importance of ensuring smooth facilitation During his visit, Prime Minister Shahbaz Sharif highlighted the government’s comprehensive efforts to provide relief to deserving individuals during Ramadan with a substantial package amounting to 12 billion rupees Notably the utility stores have established 1200 mobile points and 300 permanent relief centers to facilitate distribution Moreover the government has implemented measures to alleviate the financial burden on citizens by reducing the price of ghee by Rs 100 at utility stores, along with a significant reduction of 30% in the rates of essential food items In issuing instructions to the management of utility stores Prime Minister Shahbaz
the importance of swiftly resolving citizen s concerns and ensuring the provision of optimal facilities to prevent any inconvenience during Ramadan This proactive approach reflects the government’s commitment to prioritizing the welfare of citizens during the holy month g K S E -100 T U M BL E S A M I D L AT E S E L L I N G; I M F TA L K S A N D P O L I C Y R AT E A N T I C I PAT I O N S T I R M A R K E T S E N T I M E N T LAHORE s ta f f R e p o R t Punjab is set for a major security upgrade with the signing of an agreement to establish Safe City projects in 18 cities across the province The initiative, spearheaded by Chief Minister Maryam Nawaz, will see collaboration between the Punjab Safe Cities Authority (PSCA) and the National Radio & Telecommunication Corporation (NRTC) MD Ahsan Younis of PSCA and NRTC representative Syed Amir Javed signed the agreement in the presence of CM Maryam Nawaz The project encompasses the installation of Air Quality Index Monitoring Environment Sensors in all 18 cities Citizens in several cities can expect to see the Safe City project operational soon Gujrat, Jhelum, Sheikhupura, Okara, and Taxila are expected to have their systems up and running by the end of May The project is slated for completion in Multan Bahawalpur Sargodha Rahim Yar Khan Muzaffargarh Sahiwal, Jhang, Attock, Hasan Abdal, DG Khan, Sialkot, Murree, and Mianwali by the end of this year The ceremony was attended by senior officials, including Provincial Minister Maryam Aurangzeb Chief Secretary Chairman P&D Home Secretary IG Police and Secretary Finance CM Maryam Nawaz has emphasized the importance of safety and security since assuming office She has directed the launch of the Smart Safe City project across all districts by December 31st Her visit to the Safe City Authority included observing the monitoring process and reviewing the response to a reported theft incident Taking a proactive approach to women’s safety, CM Maryam Nawaz has directed the launch of an upgraded “Women Safety App ” The briefing also highlighted the introduction of the “Safe City Crime Stopper App currently in its trial run This app allows citizens to report crimes like terrorism, rape, and others Additionally, AI-based software is being developed to monitor for missing helmets, seat belts, and weapons The Safe City Authority cameras will also be utilized for identifying encroachments and ensuring better surveillance of hospitals bus stands airports, and railway stations This comprehensive Safe City project promises to significantly enhance security measures across Punjab fostering a safer environment for all Punjab govt to implement safe city projec ts in 18 cities IMF mission arriving in Pakistan for SBA review: repor t PR OFIT R e u t e R s An International Monetary Fund (IMF) mission is arriving in Pakistan on Wednesday for a second and last review of a $3 billion standby arrangement (SBA) Reuters reported, quoting sources The four-day review begins on Thursday, said the two finance ministry officials, who were speaking on condition of anonymity because they were not authorised to disclose the information Islamabad secured the lastgasped rescue package last summer to avert a sovereign default The last review, if successful, will release a tranche of around $1 1 billion Prime Minister Shehbaz Sharif has already directed his finance team, headed by newly installed Finance Minister Muhammad Aurangzeb to initiate work on seeking an Extended Fund Facility (EFF) after the standby arrangement expires on April 11 Aurangzeb told reporters that the team was arriving this week, without mentioning a date The lender has said it will formulate a medium-term programme if Islamabad applies for one Islamabad will be very keen to start discussions on another EFF with them during these talks the finance minister said, adding that further negotiations on the larger, longer programme would be taken forward on the sidelines of the IMF and World Bank’s spring meetings in April in Washington During the review he said We would at least kick-start the process and get this going Let s see how they respond Aurangzeb, who was picked over several other aspirants, including former four time finance minister Ishaq Dar, has to bring stability to a country plagued by crippling boom-bust cycles that have in the past led to more than 20 IMF bailout programmes The debt-ridden economy which shrank -0 2% last year and is expected to grow around 2% this year, has been under extreme stress with low reserves, a balance of payment crisis, inflation at 23%, policy interest rates at 22% and record local currency depreciation CONTINUED FROM PAGE 01 On March 6, a two-member bench of the PHC had barred the oath-taking of lawmakers allotted the reserved seats It issued a pre-admission to the ECP and all the respondents in the case listing six questions that needed to be determined The next day, a five-member larger bench extended the bar until March 13 (today) The PHC initially rejected Anwar ’s request to adjourn the hearing till tomorrow After the PPP and ECP counsels as well as the AGP presented their arguments the court sought the same from the SIC lawyer However Anwar said he could present his arguments if given time till tomorrow, at which the court adjourned the hearing till 9am on Thursday (tomorrow) THE HEARING: At the outset of the hearing, Anwar began presenting his arguments He recalled that the PTI-backed independent candidates joined the SIC within three days of their winning notification as per the law Justice Ibrahim then asked if any candidate of the SIC had won the election at which Justice Ali noted that the SIC chief had contested the Feb 8 polls as an independent candidate Anwar informed the court, “Indeed, none of their candidates won ” The court asked if the PTI-backed independents had submitted an application before the ECP on February 21 seeking to join the SIC to which Anwar replied in the affirmative adding that most of the candidates had won the election as independents They joined the SIC as per the ECP s instructions, the counsel asserted The court then asked when the list of candidates for the reserved seats was submitted to the ECP noting: “If reserved seats are left vacant then women and minorities would not have representation in the Parliament The SIC lawyer replied that the application had been filed by PTI s Ali Zafar and sought more time to prepare his arguments At this, the court noted that neither was a plea filed seeking adjournment of the hearing nor was there any report of it The court observed that only one larger-bench hearing was scheduled for today adding that it would be an injustice to the people Anwar again requested that the court adjourn the hearing till tomorrow However, the PHC refused to do so: “No, it cannot happen that the case be heard tomorrow ” The court observed that the larger bench could not take up cases every day and rejected the counsel s plea He (Anwar) has not submitted any application He is a senior counsel; he should not have done so We have few judges and hear cases for five to six hours each day The court also has to hear the cases of poor petitioners,” it noted Here PPP counsel Farooq H Naek informed the court that elections on a few Senate seats were scheduled for tomorrow The court asked him if his client had gotten more seats than its share to which the lawyer replied, The Sunni Ittehad Council does not have a right to the reserved seats In his arguments, the AGP said the representation of “mixed members” including women and minorities in the assemblies was law “The petitioner party did not take part in the general elections he stated Here the court observed that the method for a list of reserved seats was not clear in the law and asked if the SIC was being considered a political party To this, AGP Awan replied that it was yet to be reviewed whether the SIC was a political party or not under the various sections of the ECP ‘Reser ved Seats Case’: PHC asks whether or not SIC is a politic al par ty PM reaffirms commitment to Sino-Pak march toward shared values, prosperit y CONTINUED FROM PAGE 01 The country is also planning to build industrial parks and export zones and looks forward to Chinese joint ventures in sectors such as textile and steel, which combine Chinese technologies with Pakistan s labor assets “Through those joint ventures, highquality products in agriculture industry IT etc are produced to create hundreds of thousands of jobs and wealth and increase our production and exports he added China has been extremely helpful in promoting Pakistan s economic progress, and CPEC has played a very important role, which we really appreciate deeply ” said Sharif The prime minister said Pakistan is working toward electrifying its transport system to cut import fuel costs and spend
Sharif emphasized
Minister Shehbaz Sharif assured the payment of dues and urged officials to provide a feasible timeline for implementation he said K P G O V T S E E K S S E T T L E M E N T O F R S1 51 T R I L L I O N D U E S: Earlier KP Chief Minister Ali Amin Khan Gandapur
meeting
Chief
Peshawar
huge dues
province
chaired a
at
Minister House in
to discuss the
amounting to Rs1 51 trillion which the centre owe to the
and the current financial situation
National
the financial integration of the erstwhile tribal districts merged with Khyber Pakhtunkhwa remains incomplete This merger significantly increased the provincial population, creating a disparity in resource allocation through the National Finance Commission (NFC)
current provincial share of NFC stands at 14 16% whereas officials argue it should be 19 64% to reflect the revised population This translates to a potential annual shortfall of Rs262 billion Adding to the grievances, the briefing revealed that only Rs103 billion have been received under the ten-year development plan for the merged districts against the allocated Rs500 billion On the occasion CM Gandapur directed the officials to devise
According
briefing presented the substantial amount pertains to the net profit of hydropower under the AGN Qazi formula An additional Rs6 billion is claimed for electricity supplied by the provincial government to the
Grid Further complicating the situation
The
elections
timing
prisoners
adjourned the hearing until today Another division bench comprising Justice Aamer Farooq and Justice Tariq Mehmood Jahangiri noted that restricting a prisoner like Imran Khan, who is implicated in 180 cases, to meet his lawyers only one day a week was not appropriate The bench was hearing intra-court appeals filed by Adiala Jail superintendent and Islamabad commissioner against court orders allowing the former premier to meet visitors The CJ asked the petitioners about the issue with the court orders and their objections He questioned the petitioners about the prison rules regarding meetings with prisoners The judge emphasized that the IHC has complete authority to pass orders regarding prisoners in Islamabad cases He stated that the trial of the PTI founder is ongoing, and appeals against the sentence are in this court The CJ reiterated that the Adiala Jail superintendent has discretionary powers and should use them when dealing with requests regarding prisoner meetings He clarified that no law or rule is being violated through this judgment, and only a procedure has been established He added that the court will issue appropriate orders in this regard
bench noted that there was still time before the Senate
The
for meeting
has already passed for today Let s issue a notice to the superintendent for 11 am tomorrow,” the judge said The court
Imran granted right to appeal in c ypher c ase

A u t o b r e a k d o w n

T h e k e y a u t o s e c t o r h a s n o t p e r f o r m e d w e l l , b o d i n g i l l f o r t h e f u t u r e

TH E auto sector is big, with its manufacturers providing a large number of jobs, and the import of parts for manufacture providing big business in itself It is a separate issue that Pakistani manufacturers are actually merely assemblers, with auto-part manufacture still at a relatively primitive stage There are a number of reasons why the deletion programme has not gone well, but the sector is considered a driver of the economy, therefore the decline of eight percent in car sales in February compared to January was not good news and the fact that sales had actually gone up 57 percent year-on-year merely reflects the abysmal performance of the industry last year Auto sales are actually a fairly reliable indicator of how well the economy is doing With a deluge of anecdotal evidence about how hard times are, it would be a wonder if car sales did not continue to fall

As a consumer durable a car would only be bought when there is some disposable income, when consumers feel not just that they are earning for immediate needs but are putting away enough for a rainy day That kind of recovery is not visible Sales have taken a hammering because of skyrocketing prices, which have been caused by the decline in the rupee Last year ’s

was too

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 R E is no denying the substantial role played by an individual’s experiences and influences especially through his formative years in deciding the personality traits he goes on to acquire For man grows and develops in certain directions depending upon the various and unceasing inputs from his surroundings and how he responds to them and interacts with the world at large The importance of empirical knowledge cannot therefore be overstated That being said– contrary to what armchair philosophers with an atheistic bent are so fond of asserting– the human mind even at the time of the individual s birth, is no blank slate In addition to the hardware (the eyes, the ears, the brain, and the like), all the chemicals and passions, a human being is born with at least four innate ideas It is in the framework based on these ideas that he takes in and processes all the various facts and opinions he comes into contact with These four intrinsic ideas (not necessarily in any order) are: the concept of a Creator (sensus divinitatis), the distinction between true and false (basis for cognitive judgment), distinction between beautiful and ugly (basis for aesthetic appraisal), and differentiation between right and wrong (basis for moral judgment) In fact it is these four that distinguish man from the lesser life forms

The human eye can sense light in its numerous colours and shades; and the human mouth has the taste buds to distinguish between salty and sour, sweet and spicy (to cite but two human capabilities) But humans share these abilities among many more with various other life forms What sets humans apart

Psychologists can no-doubt tell plenty about those who have convinced themselves that they are happy but who are not actually happy. Any happiness, success or satisfaction gained by giving up any par t of oneÊs humanity can, at best, only be hollow and shor t-lived.

W h a t m a k e s a h u m a n b e i n g h u m a n

is the fact that they possess ‘taste buds’ (so to speak)

in cognitive, aesthetic and moral domains as well Which might sound strange to many observant folks who are apt to conclude that the available evidence overwhelmingly suggests otherwise For there is a manifest lack of cognitive ability moral sense and/or aesthetic judgement on the part of the homo sapiens, whichever sample one may take up for consideration How is this ‘discrepancy’ to be explained?

The discrepancy is only apparent Because none remains if the following is understood: while every human mind comes pre-fitted with cognitive- aesthetic- and moral-compasses as well as with sensus divinitatis, a man is supposed to exercise the apparatus he receives at his birth or else he loses it just like he loses muscle mass if he chooses not to use any given muscle This happens ever so slowly, but there is an inevitability to the process if a man is not careful enough So much so that man s very nature gets distorted if it is not cherished and preserved One could put together many conscious and subconscious factors that are apt to make an individual think or act in ways that end up distorting his nature Circumstances as well as nurture (with not a little help from the individual himself) combine to cause him over time to first become less sensitive to occasional departures from his nature followed by temporarily or permanently forgetting one or more of these innate concepts altogether Inevitably, every individual who lets that happen to himself at the same time loses some of his humanity too In other words, the finish of his life after such a loss is certain to be less than that of somebody who preserves his humanity and for that keeps his innate ideas alive and active by being true to them

Take cognitive dissonance (or double-think) for example Mental laziness, lack of commitment to intellectual integrity and/or consideration of vested in-

terests can easily cause a man to be shoddy in the way he handles data and forms his opinions as a result Whatever the cause each time the brain is not utilized to its full potential makes it harder to do the right thing at the next time of asking As one gets set in one s ways getting out of that comfort zone becomes harder and harder Until one even forgets how to use one s brain even if (when) one wants to Some crimes are certainly their own worst punishment Children being ultra-sensitive to contradictory words and acts from a very early age are notorious for embarrassing their elders by pointing such behaviour out in the most delicate of settings Over the years they learn to suppress the urge to be honest at all times Diplomacy sure has its place in society, but man rarely stops at the minimum necessary level Most adults are therefore much less sensitive to cognitive dissonance especially when it is their own What is true of a capacity for double-think is also true of having an inconsistent moral code the contradiction of which is either ignored or is rationalized on one pretext or another Whatever the case, the resulting bliss (if any) is not something any sane person would envy The fructifying kind of happiness can only be achieved when a man thinks and acts wisely in any given situation In other words only when he at peace with himself

Psychologists can no-doubt tell plenty about those who have convinced themselves that they are happy but who are not actually happy Any happiness, success or satisfaction gained by giving up any part of one’s humanity can, at best, only be hollow and short-lived But more significantly coming at the cost of one s humanity it is too dearly purchased anyway

The author is a connoisseur of music literature and food (but not drinks) He can be reached at www facebook com/hasanaftabsaeed

Honour public mandate for prosperit y

Plight

High quality research into market mechanics, streamlining of processes and information sharing in order to produce informed decision making are essential for capital market growth which will ultimately result in multiplied economic activity, higher investments, higher documented transactions, service revenue, credit enhancement and increased market capitalization.

04 Thursday 14 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
anaemic to make
that sales have still to recover
factor likely to depress sales in coming months is the recent increase in the sales tax on cars; these latest figures
not reflect the effects of the tax hike Individual manufacturers show variation, with Indus Motors declining, its Fortuner and Revo posting poor figures while its Toyota series was affected by the launch of the Cross last month Suzuki and Honda both increased sales, though Honda posted a year-onyear decline While Millat and Ghazi fought each other for market share in the tractor segment the decline in that segment was perhaps the most worrisome, because tractors are not consumption items but productive tools Pakistan is an agricultural country and the mechanization of agriculture is by no means complete Car companies have been at the head of the rally after the elections, but whereas a controlling of inflation, and a cut in the interest rate would help them a return to the industry’s profitable heyday depends on the revival of real growth
recovery in the rupee
a difference with one result being
A
did
P E O P L E have spoken The election results are an indictment of the entire political process The lacklustre turnout the split mandate and voting pattern is nothing but a vote of no-confidence against the existing political as well as administrative system The power politics and games that seasoned politicians play have created a polarised society waiting to ignite with the smallest spark It's about time the political leaders need to take stock of their surroundings and rethink their agenda The sooner the better lest they will be rooted out from their own political parties If they are sincere they will bury the political hatchet give up their personal differences and form a national government If Pakistan has to survive and be recognised as a resilient state, we all need to huddle up and draw out an amended social contract A constitution which guarantees and mandates local Government elections also guarantees healthcare system Similarly it also guarantees no interference by the Parliamentarians in development projects The public servants need to have guaranteed and tenured service Let s do away with the selection system and put together all Pakistan Judicial Service We need to reimagine the 18th amendment Let's agree to economic reforms which encourage local investment Give Constitutional guarantees to farmers industrialists and the businesses These are trying times and we have to rise up to the occasion as no one is hindering us but our personal greed and lust for power It s about time that politicos become statesmen Will they do it is a question to be asked ATIYA ZAIDI LAHORE
of
T H E massacre of Palestinians by Israel must come to a halt The selfproclaimed champions of human rights, especially the United States and the United Kingdom, are the real culprits They are the ones behind whatever Israel is doing The West wants Afghanistan to ensure the rights of women but it has no such demand at all for Palestinian women This is hypocrisy at its worst DAWAR SHOAIB KARACHI Neglected librar y A library should be a peaceful and comfortable place to study but the Hub Public Library is far from being such a facility Students face multiple issues, such as lack of water and electricity, inadequate washrooms, noise disturbance and insufficient seating arrangement The relevant authorities should manage these issues A K BALOCH KHUZDAR Unnecessar y closures A number of cities in Balochistan including Hub Turbat Gwadar Quetta Kalat and others experienced shutdowns annou- nced by political elements unhappy with the results of recent elections While the results were still being announced the blame game had started leaving the people with a sense of confusion and insecurity Such closures should be discouraged by all concerned as they cause nothing but trouble to the people SEEMA NAWAZ HUB 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 C A P I TA L markets are the avenues for capital creation and growth Capital markets owe their origin to Dutch society of the 16th century The basic function of brokers in the Dutch economy was the same as of the capital market institutions today the world over Capital markets are used for channelization of stagnant wealth for financing new businesses and providing liquidity along with safety to the owners of the capital assets Capital markets in south Asia inherit their legacy from the business-class traders of the prepartition Indian subcontinent mainly concentrated in the north-centre of undivided India where the then capitalists used to lend money and earn interest That was a very crude form of capital market without any formal institutionalization Capital markets then were more a source of exploitation than a driver of economic productivity After the Bretton Woods system came into beinfg the world powers started championing the cause of capital market institutions Today, the corporatization of business and the requisite vibrancy of capital markets are the determinants of growth and economic vitality Coming to Pakistan the capital market here witnessed a giant leap in the early 2000s whereby the Securities and Exchange Commission of Pakistan (SECP), Karachi Stock Exchange (now Pakistan Stock Exchange), Central Depository Company (CDC) and State Bank of Pakistan (SBP) were revamped More so, the Federal Board of Revenue (FBR then CBR) was reformed to a greater extent All these changes with economic stability and foreign exchange sustainability led to affluence in the capital market The corporatization of businesses increased manifold As a matter of fact, the key milestones in achieving true capital market vibrancy are given that is ease of trading swift financial settlements (sale purchase and exchange of scrips shares bonds debentures units and such like) increased number of secure financial transactions, online settlements, real time pricing and linkages with local and international financial institutions In Pakistan, all these parameters were positive in the early 2000s Unfortunately despite advancement in technology and real time computing our country has not achieved sustainable growth in capital markets A major step in the direction was the establishment of Pakistan Stock Exchange and virtual linking of all exchanges in Pakistan However, much more needs to be done The international organization of Securities Commissions also prescribes best practices for capital markets world over which must be adhered to by our country in order to be more vibrant and attractive to foreign investors Here the e-services platforms of SECP deserve commendation as they have simplified the processes of incorporation fee payments filing requirements and such like, making them very easy and inexpensive with minimal human intervention Recently, the SECP has also been successful in launching Pakistan’s new corporate registry “eZfile ” which is a more sophisticated and user-friendly online portal designed for company and LLP registration and post-incorporation filings Moreover, the promulgation of Companies act 2017 has also been a step in the right direction which removed certain anomalies in the Companies Ordinance 1984 The promulgation of Limited Liability Partnership (LLP) Act 2017 was also reflective of a thorough effort by the policy makers to enhance documentation of the economy Many partnerships in the country were operating but these were outside the regulatory domain of SECP Through the LLP Act, LLPs are now also a part of the documented corporate environment The next important factor is to ensure realtime linkage of the capital market with financial institutions and banks In today s digitized world, transfer of funds is made through some clicks on the digital screen Here we must appreciate the introduction of e-pay platforms and digital banking by telecom companies and banks However, much more is required to integrate the international financial institutions and banks to the capital markets of Pakistan so that the globally recognized standards of transparency and source verification of funds are complied with We must acknowledge that the increase in interest rates in Pakistan has decreased the risk appetite of the investors over time Accordingly, the investors have remained distant from the capital market Moreover, owing to the forex crunch the foreign investors also have been apprehensive of investment because their returns in the form of dividends are hard to be remitted outside Pakistan in view of the stringent control on the outflows of dollars Therefore, a coordinated and concentrated effort is needed to revive the confidence of capital markets In purely the context of Pakistan’s economy the capital market should aim at driving economic growth by acting as a catalyst of financing the Small and Medium Enterprises (SMEs) and cottage industries, leading to increased productivity and employment generation High quality research into market mechanics, streamlining of processes and information sharing in order to produce informed decision making are essential for capital market growth which will ultimately result in multiplied economic activity higher investments higher documented transactions, service revenue, credit enhancement and increased market capitalization The writer is a civil servant and qualified as a chartered accountant C a p i t a l m a r k e t v i b r a n c y –w h e r e d o w e n e e d t o f o c u s ? No t e n o u g h at te nt i o n i s p a i d to t h i s ke y f a c to r KAmrAN muSHTAq
Gaza
T h e c o s t o f s u c c e s s a n d s a t i s f a c t i o n
HASAN AFTAB SAEED

IN the intricate tapestry of India s political landscape the ascent of Bharatiya Janata Party (BJP) under the leadership of a radical leader, Narendra Modi, and its embrace of Hindutva ideology have become defining threads The inauguration of ‘Ram Mandir ’ stands as a symbolic pinnacle of this shift raising concerns about BJP s strategy the potential erosion of secular principles of India, and the broader implications for regional stability and global democracy

Though India’s struggle with religious nationalism resonates globally with similar movements rising in democracies from Turkey to Latin America and beyond the gravity of concerns surrounding India s internal dynamics is enormous India s internal panorama increasingly reflects the influence of religiously charged political appeals, a trend mirrored elsewhere but seemingly intensified in India This raises questions about the Indian state s role in fostering harmful narratives including promoting misinformation, hate speech, and even terrorism, both within its borders and internationally

The BJP’s increasing reliance on Hindutva ideology is obvious Policies and rhetoric favoring Hindu majoritarianism have become a hallmark of their governance

While the construction of the Ram Mandir in Ayodhya may be a manifestation of longstanding religious sentiments, it has also served as a political instrument, solidifying the party’s Hindu nationalist base The intertwining of religious and political narratives raises concerns about BJP’s true intent– is it fostering religious unity or exploiting faith for political gain?

One of the most disconcerting aspects of the BJP s approach is the deliberate manipulation of Hindu symbols and narratives to further its political agenda, often at the expense of religious minorities Critics argue that the BJP s strategies have exacerbated existing communal fault lines marginalized

N a v i g a t i n g t h e p e r i l s o f H i n d u t v a : A t h r e a t t o s e c u l a r d e m o c r a c y

religious minorities and fostered an environment of suspicion and division The nation that prided itself on unity in diversity, is now grappling with the consequences of identity politics that threaten its social composition

The digital realm in this regard has become a battleground for political ideologies and the BJP has proven adept at using social media to spread Hindu nationalist propaganda The alarming rise of online hate speech and its real-world implications are threatening The digital space in India, once hailed as a platform for democratic discourse is now loaded with divisive narratives which contribute to an atmosphere of intolerance and hostility The weaponization of social media in facilitating political agendas poses a significant threat to the democratic values of free speech and open debate

The BJP’s electoral successes in recent regional elections are partly attributed to their Hindutva-driven mobilization of Hindu voters While the party celebrates these victories there are growing concerns about the long-term impact on India s secular democracy and social harmony Critics argue that the BJP s strategy, while politically expedient in the short term, risks deepening divisions among religious communities eroding the very foundation upon which India’s democratic structure stands

A worrisome aspect of BJP s approach is its exploitation of economic worries, redirecting frustrations toward religious minorities This has created a dangerous environment of intolerance and discrimination where marginalized communities bear the brunt of societal discontent Despite electoral victories dissent and resistance are growing from civil society groups and opposition parties concerned about the BJP s divisive policies The resilience of India s democratic spirit is evident in the voices that refuse to be silenced The struggle for an inclusive and tolerant India continues and the BJP s mandate is not absolute

For several years Western allies of India have been unable to realize the threat of Hindutva, or Saffron radicalism brewing under

t t h r e a t y e t

the leadership of PM Narebdra Modi Today there s a growing understanding that India s mask of the world s largest democracy and its image of a responsible state is fast vanishing The right-wing Hindu takeover has made India more of a Hindu Rashtra than a secular responsible state This scenario leads us to question if India is a reliable state Indian killing plots on foreign soil should be a wake-up call for India s Western allies

However, there is complete silence on India s consistent engagement in a proxy conflict against other states

Another worrisome aspect of BJP’s approach extends beyond domestic borders Concerns about India s domestic political climate are simmering internationally with Pakistan s Foreign Secretary, Sajjad Qazi, making bold accusations He alleged Indian intelligence agencies’ involvement in destabilizing Pakistan through extrajudicial killings echoing similar accusations recently leveled by the USA and Canada alleging Indian intelligence links to attempted and actual assassinations on their soil India s contradictory stance on terrorism is deemed unacceptable While vehemently accusing Pakistan of terrorism, India has failed to thoroughly investigate purported false flag operations within its borders De-

spite Pakistan s repeated efforts to investigate and jointly engage in counter terrorism, India opts for a blame game In the aftermath of the Parliament and Mumbai attacks, revelations from former CBI investigating officer Satish Verma and Indian Home Minister Sushil Kumar Shinde add another layer to the complexity On 21 January 2013 Shinde implicated the ruling political party BJP and RSS in conducting training camps to propagate Hindu extremism, linking these factions to the Samjhauta Express, Mecca Masjid and Malegaon bombings Verma disclosed on 19 July 2013 that the Indian government orchestrated incidents in

As India grapples with the complexities of its evolving political landscape , the international community must play a proactive role Pressure should be exer ted on India to uphold its secular values, and engag ement with civil society groups promoting tolerance and inclusivity should be encourag ed Navigating the perils of Hindutva requires a collective international commitment to preser ving democratic principles around the globe .

Mumbai and the Parliament to bolster counter-terror legislation

On the international stage, the rise of Hindutva nationalism raises concerns about India’s commitment to secularism and its regional leadership role As the world grapples with the challenges posed by religious extremism India s trajectory becomes a critical focal point, shaping the narrative of democratic governance in the 21st century The BJP’s model of religious nationalism is not confined to India only, it also sets a worrying trend for other democracies The global community must pay heed to the lessons unfolding in India recognizing the potential for similar movements to gain traction elsewhere The erosion of secular values in one corner of the world could embolden similar endeavours, posing a collective threat to the democratic ideals that bind nations together As India grapples with the complexities of its evolving political landscape the international community must play a proactive role Pressure should be exerted on India to uphold its secular values, and engagement with civil society groups promoting tolerance and inclusivity should be encouraged Navigating the perils of Hindutva requires a collective international commitment to preserving democratic principles around the globe

The writer is Senior Research Officer at the Center for International Strategic Studies

Why are US lawmakers hell-bent on banning TikTok?

TTBut

self and thus a projection of soft power It has become a defining characteristic of America s struggle with China that the US in its own insecurity has increasingly responded by turning inwards in reaction to Beijing Whereas during the Cold War America turned outwards

the American ego, a ‘Sputnik’ moment that represents a shock to the American system comparable to the Soviet Union’s Cold War-era achievement There is a fundamental difference here however – in this case, America is not looking in from the outside like it was at the standalone achievement of the USSR TikTok has become a cultural sensation in America it-

starting to beat the old guard of Silicon Valley now what is going to happen in the future? Seemingly, US politicians have no answer to this other than to become defensive It is likely, however, that even if the bill passes, the ban will once again fail to withstand legal scrutiny Such a ban creates problems for the First Amendment because if the US government can arbitrarily ban a platform on the basis that it constitutes propaganda , then arguably, this creates a disturbing precedent which can be used to strike anything down Yet the fact that politicians are so readily willing to ban something on this premise might tell us how insecure paranoid and seemingly unsettled they have become regarding the rise of China It is fair to say that even if nothing comes of this potential ban, the issue of TikTok is going to keep ticking and won’t go away

Thursday 14 March 2024 COMMENT 05
H E US House of Representatives is expected to vote on a bill that would force TikTok s owner Bytedance to sell off the app or face an outright ban The bill, called the Protecting Americans from Foreign Adversary Controlled Applications Act, was sponsored by a group of nearly two dozen Republicans and Democrats It was introduced last week and advanced out of committee at lightning speed by a unanimous vote The bill would make it unlawful for apps controlled by companies based in adversarial countries Bytedance is located in China to be distributed nationwide If enacted, Bytedance would be required to sell off TikTok if the company wanted the app to remain available in the US Congress has tried and failed to ban TikTok over the past few years but this is the closest it s gotten to making it a reality Still, the politics of a ban have never been hazier While bills regulating US-based tech companies have largely stalled out, this TikTok ban is on its way to the floor In January President Joe Biden s reelection campaign joined TikTok despite the app s alleged risks to national security Still Biden has said that he ll sign the bill if it makes it through the Senate On the other hand, former president Donald Trump is pushing lawmakers against the bill even though his administration tried to ban the app several times “If you get rid of TikTok Facebook and Zuckerschmuck will double their business Trump posted to Truth Social last week I don t want Facebook, who cheated in the last Election, doing better They are a true Enemy of the People!” Last year, TikTok CEO Shou Zi Chew testified to the House Energy and Commerce Committee in his company s first appearance on Capitol Hill Chew was grilled on a number of issues including child safety and the national security risks TikTok is said to pose for American users Shortly after the hearing, Virginia senator Mark Warner introduced the RESTRICT Act which would have allowed the secretary of commerce to bar foreign technologies and companies from operating in the US on national security grounds Support for that bill waned over constitutional concerns that it would provide the executive branch too much authority The current House Republican bill tries to avoid similar constitutional problems Specifically it creates a process for the bill s rules to apply to other foreign-controlled companies despite its explicit naming of Bytedance Companies would have 165 days to divest their apps before being removed from US app stores In January, Chew testified for a second time with other Big Tech CEOs like Meta’s Mark Zuckerberg for a hearing on child safety Responding to the bill a TikTok spokesperson told WIRED This legislation has a predetermined outcome: a total ban of TikTok in the United States The government is attempting to strip 170 million Americans of their constitutional right to free expression This will damage millions of businesses deny artists an audience and destroy the livelihoods of countless creators across the country TikTok has invoked the First Amendment and the right to free speech throughout multiple attempts to ban the app Last April, Montana lawmakers voted to ban TikTok from app stores within the state TikTok sued the state claiming that the law suppressed free speech In November a federal judge sided with TikTok protecting the app from a state ban at the beginning of this year Last week, TikTok sent push notifications to its millions of US users making the same argument ahead of the House’s first vote on the new bill In the app the notification had one button encouraging users to call their representatives and ask them to vote no on the measure Politico reported that lawmakers offices were overwhelmed with the number of calls they were receiving from users over the bill If the bill is approved in the House it will be sent to the Senate where its future remains unclear Warner told Reuters that he s taking a close look at the bill but has not indicated whether he would vote in favor of it Republicans like Lindsey Graham have reportedly said that they don’t want the app to disappear entirely Still some experts fear House Republicans are casting a blind eye to threats posed by US-based tech companies in their fight against TikTok For years Congress has made these companies testify on alleged privacy and safety violations, but rarely has a measure regulating these companies made it to the floor “If House Republicans were really serious about taking on Big Tech or tech platforms for national security risks they should be looking at Google They should be looking at Meta They should be looking at Apple, and they should be looking at Amazon,” Sacha Haworth, executive director of the Tech Oversight Project, told WIRED on Tuesday “But they’re not So that tells you how fundamentally unserious this bill is This is simply just a box they can check to pretend as though they re taking on Big Tech to appeal to their base Makena Kelly is a senior writer at WIRED focused on the the intersection of politics power and technology She was previously at The Verge CQ Roll Call and the Lincoln Journal Star
a c i n g i t
t e s
T i k T o k i s f
s g r e a
e B J P h a s m a d e i t t h e wo r l d ’s p ro b l e m
Th
I K TO K is the world s most downloaded social media app With over 1 billion active monthly users, it has become a global sensation and surpassed other
media platforms to become the newest craze of its time
social
for all other social media apps but a Chinese company called ByteDance This has continually made it the subject of political paranoia in Washington, DC and an obsession with Republican politicians to try and ban it As is the case with most things from China, such politicians denounce it spuriously without evidence as a conspiracy by the Communist Party of China to infiltrate influence or spy on their country in some way There has never been any serious evidence of wrongdoing by the app, yet the political narrative has continued because it is convenient to do so There have already been a number of failed bans against it including a botched attempt by the Trump administration in 2020 which was struck down by a legal challenge and then an effort to ban it at the state level in Montana, also defeated in court
the hysteria is not going away Republican Representative Mike Gallagher the head of the House Select Committee on the Chinese Communist Party has introduced a new congressional bill which will once again attempt to effectively ban the video platform The bill has advanced through the committee stage and is likely to get a floor vote President Joe Biden has said he will sign the bill if it reaches his desk The act has produced outrage from TikTok’s 170 million users in the US who have bombarded their members of congress with calls to oppose the ban but as with most things related to China in Washington DC it tends to fall on deaf ears Gallagher insists that his bill is not an outright ban of TikTok – technically, what it envisions is making it illegal for distributors to provide apps controlled by ByteDance and the company can choose to relinquish control to let TikTok stay in the US market Obviously this choice is simply a mafia-style racket to force ByteDance to sell the most popular app in the world In other words, let the US smash and grab your social media product or have it banned It’s little more than legalized extortion but this reflects a lot about the mentality of American politicians America clearly has a big problem with the fact that one of its rival countries could create a globally acclaimed social media application The US, after all, has until recently led the social media world hands down and there has been no contest with Facebook Twitter and others all being American products which have changed the world The idea that China has created the next-generation social media app is a blow to
for American politicians there s one big problem with it that they have never accepted – it s Chinese TikTok was not created by a Silicon Valley company, as has been the case
But
to compete with its own cultural products markets aid and support here the US fears it cannot compete with China on many levels and instead resorts to negative measures, such as bans, blacklisting, sanctions, export controls, bad faith allegations, and forcing allies to endure costs rather than giving them incentives This
course reflects the reality that China has pursued a very different strategy to the Soviet Union, one that has been premised on much more global economic and commercial engagement, as well
technological successes TikTok is seen as an emblem of this because if Chinese companies with their skills in AI are
of
as
Th e Ho u s e o f R e p re s e nt at i ve s i s s e t to vo te o n a b i l l t h at co u l d re s u l t i n a b a n o f t h e a p p i n t h e U S ahsan ali Zahid
A b i l l m ov i n g t h ro u g h t h e Ho u s e o f f e r s a m a f i a ra c ke t - s t y l e ‘c h o i ce’ to b o t h t h e C h i n e s e s o c i a l m e d i a a p p a n d A m e r i c a n d i g i t a l d i s t r i b u to r s WIRED m a k e n a k e l ly RT T i m u r F o m e n ko

We re going to close our borders We re going to do things like nobody has ever seen before And we re going to make our nation’s economy be the best ever in the world ” said Trump Biden meanwhile faced only token opposition in the Democratic primary campaign though liberal activists

her presidential campaign following Trump s dominant performance last week on Super Tuesday, when he won 14 of 15 state contests In a video posted on social media, Trump said there was no time to celebrate and instead put the focus on beating Biden whom he called the worst president in U S history We re going to drill baby drill

China boosts new round of consumption by promoting circular economy

Putin warns West: Russia is ready for nuclear war

MOSCOW Ag e n c e s

household appliances such as refrigerators washing machines and air conditioners exceeded three billion

The replacement of automobiles and home appliances can create a trillion-yuan market space ” said Zheng Zhajie head of the National Development and Reform Commission at a press conference during the second session of the 14th National People s Congress

Besides, there is a great demand for equipment renewal According to Zheng equipment investment in China s industrial agricultural and other key areas is about 4 9 trillion yuan ($681 3 billion) in 2023, and with the promotion of high-quality

Protests erupt across India against anti-Muslim citizenship law

s u r e s t o p r e v e n t u n l a w f u l g a t h e r i n g s a n d i n c r e a s i n g p o l i c e p r e s e n c e in sensitive areas

President Vladimir Putin warned the West on Wednesday that Russia was technically ready for nuclear war and that if the US sent troops to Ukraine it would be considered a significant escalation of the conflict Putin speaking just days before a March 15-17 election which is certain to give him another six years in power, said the nuclear war scenario was not “rushing” up and he saw no need for the use of nuclear weapons in Ukraine “From a military-technical point of view we are of course ready Putin 71 told Rossiya1 television and news agency RIA in response to a question about whether the country was ready for a nuclear war Putin said the US understood that if it deployed American troops on Russian territory or to Ukraine Russia would treat the move as an intervention In the US there are enough specialists in the field of Russian-American relations and in the field of strategic restraint, said Putin, the ultimate decision-maker in the world’s biggest nuclear power Therefore I don t think that here everything is rushing to it (nuclear confrontation) but we are ready for this Putin s nuclear warning came alongside another offer for talks on Ukraine as part of a new post-Cold War demarcation of European security The US says Putin is not ready for serious talks over Ukraine The war in Ukraine has triggered the deepest crisis in Russia s relations with the West since the 1962 Cuban Missile Crisis and Putin has warned several times the West risks provoking a nuclear war if it sends troops to fight in Ukraine Putin sent tens of thousands of troops into Ukraine in February 2022 triggering full-scale war after eight years of conflict in eastern Ukraine between Ukrainian forces on one side and pro-Russian Ukrainians and Russian proxies on the other In a US election year, the West is

grappling with how to support Kyiv against Russia which now controls almost one-fifth of Ukrainian territory and is rearming much faster than the West and Ukraine Kyiv says it is defending itself against an imperial-style war of conquest designed to erase its national identity Russia says the areas it controls in Ukraine are now Russia Putin has sent a series of public nuclear warnings to the US aimed at discouraging greater involvement in Ukraine a move the Kremlin says would mark a slide into world war Washington says it has seen no major changes to Russia’s nuclear posture but Putin’s public nuclear warnings which break with the extreme caution of the Soviet leadership over such remarks have sown concern in Washington Putin reiterated the use of nuclear weapons was spelt out in the Kremlin s nuclear doctrine, which sets out the conditions under which it would use such a weapon: broadly a response to an attack using nuclear or other weapons of mass destruction or the use of conventional weapons against Russia when the very existence of the state is put under threat “Weapons exist in order to use them,” Putin said “We have our own principles ” CNN reported on Saturday the administration of US President Joe Biden was specifically concerned in 2022 that Russia might use a tactical or battlefield nuclear weapon in Ukraine

BEIJING s tA f f c o R R e s p o n d e n t Intel has reportedly secured a license to continue to sell to Huawei amid an intensified US crackdown on the Chinese chip industry, according to media reports on Tuesday a move that shows the US is imposing targeted restrictions to contain China s chip development in an effort to limit the impact on its own industry, experts said T h e y n o t e d t h a t t h e U S c r a c k d o w n h a s c a u s e d s i g n i f ic a n t d a m a g e t o U S c o m p a n i e s a n d t h e g l o b a l s u p p l y c h a i n w h i l e f u e l i n g t h e d e v e l o p m e n t o f t h e C h i n e s e c h i p i n d u s t r y Intel survived an effort to halt hundreds of millions of dollars’ worth of chip sales to Huawei, despite increasing complaints from Intel s business rivals and increasing pressure of some US politicians seeking to revoke the export licenses, Reuters reported on Tuesday, citing people familiar with the matter In late 2020, the US Commerce Department granted some US-based Huawei suppliers including Intel special permission to sell certain items to the Chinese telecoms equipment giant AMD argued it was unfair that it did not receive a license to sell similar chips to Huawei according to the Reuters report AMD is also seeking US approval to sell an artificial intelligence (AI) tailored for China but was told it must obtain a license as the chip was too powerful despite being weaker than what the company sells outside China, Bloomberg reported earlier this month Telecom industry experts believe that the US licensing system is being used to dynamically ensure that only the exports that won’t help advance Chinese technology are being permitted The license for Intel’s chip exports to Huawei must also be evaluated to ensure that the chips cannot help Huawei or China achieve technological breakthroughs and leadership, Ma Jihua, a telecom industry analyst, told the Global Times on Wednesday For Intel obtaining approval is definitely a positive development to retain a major customer The Chinese market is very large, with a high market share and consumer base ” Ma said There is the probability of other semiconductor enterprises obtaining licenses In the US such licensing mechanisms provide scope for political lobbying and bargaining, Ma noted Yet, the approval of an export license does not signify that the US will relinquish its pressure on China’s semiconductor sector It will persist with a tough approach toward China while ensuring that it minimizes the harm to its own industry, Xiang Ligang, directorgeneral of the Beijing-based Information Consumption Alliance, told the Global Times on Wednesday The US is constantly assessing the need to expand export controls to stop China from acquiring adv a n c e d c o m p u t e r chips and m a n u f a ct u r i n g equipment that could be used to boost its m i l i t a r y US Commerce Secr e t a r y Gina Raim o n d o said on Monday In 2023, the US broadened its export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with US equipment which seriously threatened the stability of industrial supply chains The new rules announced in October 2023 also barred exports of Nvidia’s A800 and H800 chips to China both of which were made to comply with Thursday 14 March 2024 | ISLAMABAD 06 NEWS BEIJING s tA f f c o R R e s p o n d e n t The circular economy has become a hot topic these days in China as the country is poised to further boost consumption this year through extensive equipment upgrades and consumer goods trade-ins Since the Central Commission for Financial and Economic Affairs (CCFEA) held a meeting in February to stress promoting equipment renewal and trade-in of consumer goods the country has made intensive arrangements with nine central government departments including the Commerce Ministry jointly publishing a notice on improving China’s recycling system in late February and the State Council the country s Cabinet making detailed arrangements in March for its implementation The State Council said that the authorities will intensify fiscal and financial policy support, make full use of standards including energy consumption, emissions and emerging technologies to promote the upgrade of equipment in sectors such as construction transportation agriculture education and healthcare, and facilitate trade-ins of cars and home appliances Experts say industrial equipment and durable consumer goods in China have vast space to be replaced and recent initiatives by the government could not only stimulate consumption but improve resource allocation, contributing to the green and sustainable development of industrial structures A household appliance recycling site in Huai an City east China s Jiangsu Province, August 18, 2022 /CFP A household appliance recycling site in Huai’an City, east China’s Jiangsu Province, August 18, 2022 STIMULATE A NEW ROUND OF CONSUMPTION Data from the Commerce Ministry shows that by the end of 2023, the number of civilian au-
in China
reached 336 million and the number of major
tomobiles
had
development, equipment renewal demand will continue to expand He estimated that updating the equipment would create a huge market with an annual scale of more than 5 trillion yuan (about $695 billion) “Equipment and consumer goods upgrades will inevitably increase the demand for production equipment and home appliances which will help expand consumption and accelerate the economic cycle, Sheng Chaoxun, director of the Strategic Policy Office of the China Academy of Macroeconomic Research told China Media Group (CMG) He added that the recent action plan to promote new-for-old activities could also drive China s high-quality development with technological progress and industrial upgrading The recent actions are adapted to the trend of high-end, intelligent, green and digital development of the manufacturing industry Promoting equipment renewal will inevitably lead to the upgrading of the industrial chain including the improvement of the quality of end products Sheng said adding The initiatives will also expand the market space so that a variety of new technologies will emerge
UNITED STATES R e u t e R s U S President Joe Biden and former President Donald Trump both clinched their parties nomination on Tuesday, kicking off the first U S presidential election rematch in nearly 70 years Biden needed 1 968 delegates to win the nomination and he passed that number on Tuesday night as results began to come in from the primary contest in Georgia Edison Research said Results were also coming in from Mississippi, Washington state, the Northern Mariana Islands and Democrats
abroad Hours later Trump clinched the 1,215 delegates required to secure the Republican presidential nomination as four states held contests, including Georgia, the battleground where Trump faces criminal charges for his efforts to overturn the state’s 2020 results There were 161 delegates at stake on Tuesday in Georgia Hawaii Mississippi and Washington state Biden, 81, issued a statement after he sealed the Democratic nomination, taking aim at what he called Trump’s “campaign of resentment revenge and retribution that threatens the very idea of America Voters now have a choice to make about the future of this country Are we going to stand up and defend our democracy or let others tear it down? Will we restore the right to choose and protect our freedoms or let extremists take them away?” he said The outcome of Tuesday’s voting was essentially predetermined after Trump’s last remaining rival for the Republican nomination former U N Ambassador Nikki Haley ended
living
frustrated by his support for Israel s war in Gaza have convinced a sizable minority of Democrats to vote “uncommitted” in protest Both men have already turned their attention to the Nov 5 general election holding dueling rallies in Georgia on Saturday In Rome Georgia Trump 77 again repeated his false claim that the 2020 election was fraudulent and accused the Fulton County attorney Fani Willis of prosecuting him for political reasons He also attacked Biden for failing to stem the flow of migrants at the U S southern border, an issue he intends to keep front and center throughout the campaign, as he did in 2020 The Biden campaign launched a more aggressive phase on Friday announcing Biden would tour several battleground states amid a $30 million ad buy The campaign said it raised $10 million in the 24 hours after Biden s State of the Union speech, adding to Democrats’ financial edge over Republicans The last repeat presidential matchup took place in 1956 when Republican President Dwight Eisenhower defeated former Illinois Governor Adlai Stevenson a Democrat for the second time This year, voters have expressed little enthusiasm for a repeat of the bitter 2020 election, with Reuters/Ipsos public polls showing both Biden and Trump are unpopular with the majority of voters B I D E N , T R U M P C L I N C H N O M I N AT I O N S , K I C K I N G O F F B R U I S I N G P R E S I D E N T I A L R E M AT C H US chip firms urge Biden administration to approve sales to C hina as ban backfires NEW DELHI Ag e n c e s Sporadic protests have erupted across India against the implementation of the controversial Citizenship Amendment Act (CAA) sparking renewed concerns about its discriminatory impact on Muslims Narendra Modi government faces backlash as demonstrations broke out in various states including Assam and Tamil Nadu just days before a general election is announced In Assam and Tamil Nadu, demonstrators voiced their opposition to the CAA with protests involving burning copies of the law and shouting slogans against its implementation Opposition parties in Assam have called for a statewide strike in response to the law T h e C o m m u n i s t P a r t y o f I n d i a ( M a r xi s t ) h a s j o i n e d t h e o p p o s i t i o n , c a l l i n g f o r s t a t e - w i d e p r o t e s t s i n K e r a l a a g a i n s t w h a t they describe as a communal and divisive l a w I n D e l h i , w h e r e p r o t e s t s a g a i n s t t h e CAA were concentrated in 2019 authorities remain on alert for potential violence imp l e m e n t i n g m e a

CDA decides to build Pak istan's largest IT park

at

JS Bank joins hands with UNDP to promote gender-inclusive and climate-resilient businesses in Pakistan

KARACHI s ta f f r e p o r t

JS Bank joins hands with the United Nations Development Programme (UNDP) to promote gender-inclusive and climate-resilient businesses

Ali Ashar Jaffri (In the loving memory of my late father Justice (R) Syed Ali Aslam Jafri, whose teaching and guidance made me who I am today Even though he may no longer be among us his prayers and best

The interconnected steps are highlighted in a flowchart emphasizing transparency and accountability Encouraging the uptake of sustainability through green loans, while also integrating environmental risk assessments to mitigates threats foster a more sustainable approach Technology enhances traceability continuous improvement aligns with evolving environ-

mental standards and ultimately shaping a more responsible global supply chain Banking sector plays a vital role in channeling funds toward green projects According to S&P Global Rating Report Sustainability Insights, sustainable bond issuance will approach $1 trillion in 2024 This underscores the financial industry s commitment to sustainability Banks like the European Investment Bank (EIB) have allocated significant funds to climate action projects, positively impacting various supply chains When examining the supply chain market it can be observed that suppliers meeting sustainability demands are positioned to expand their enterprises However, Small and Medium-sized Enterprises (SMEs), constituting 90% of businesses globally often lack the financial means and expertise to bolster their social and environmental practices By extending support to these SMEs, financial

change particularly for women As a financial service provider it is our core responsibility to empower businesses that are inclusive and sustainable We are also grateful to partner with UNDP in paving the way for inclusive and climate-resilient projects in the country and are committed to making a positive impact on society "

Daraz kickstar ts Ramazan festivities with spectacular offers at best prices

e w i t h u n b e a t a b l e p r i c e s a n d e x c l u s i v e o ff e r s w i t h d i s c o u n t s r e a c h i n g u p t o 7 5 % T h e 3 3 c a m p a i g n w i l l r u n o n t h e p l a t f o r m u n t i l t h e 1 9 t h o f M a r c h , s e t t i n g t h e s t a g e f o r t h e 4 4 c a m p a i g n , w h i c h w i l l b e g i n o n t h e 2 0 t h o f M a r c h a n d c o n t i n u e u n t i l t h e 4 t h o f A p r i l " R a m a d a n i s a p e r i o d m a r k e d b y a s e n s e o f c o m m u n i t y r e f l e c t i o n a n d c e l e b r a t i o n A t D a r a z o u r g o a l i s t o e n r i c h t h i s e x p e r i e n c e f o r o u r c u s t o m e r s b y r e m o v i n g t h e h a s s l e o f h i g h c o s t s a n d c o m p l i c a t e d s h o p p

07 News Thursday 14 March 2024 | IslAMAbAD CORPORATE CORNER ISLAMABAD s ta f f r e p o r t On the direction of the Chairman Capital Development Authority (CDA) from the related departments including Member Technology and Digitalization where all the office affairs of CDA are to be digitized rapidly there, several steps are being taken to provide best IT facilities to the citizens According to the details, the Capital Development Authority (CDA) board has approved the construction of an IT park on an area of 3 3 acres in Sector G-10 of Islamabad for which a plot has also been allocated Further Islamabad IT Park will be established under Public Private Partnership The covered area of this park will be 1 lakh square feet In which 5 to 6 thousand freelancers should be worked In the IT Park working space for freelancers start-ups software houses library space for exhibition of IT products, research centers, conference halls, meeting rooms will also be allocated It should be noted that the private companies will bear all the costs of building Islamabad IT Park while after 15 years this park will be completely handed over to CDA Similarly private companies will be able to rent space and build IT offices in this park This will not only increase the income of CDA but also ensure the provision of modern and quality IT facilities to the citizens of Islamabad On this occasion, the Capital Development Authority (CDA) administration says that equipping the city of Islamabad with modern facilities is one of the first priorities of the organization so that all possible facilities can be provided to the citizens coming to Islamabad
PR OFIT N e w s D e s k C ONSUMERS get no price relief as the Ministry of Commerce (MoC) formally put a ban on the export of onions and bananas till April 15, 2024 This move is aimed at stabilising the rising domestic prices of both items in the month of Ramazan T h e C o m m e r c e M i n i s t r y i s s u e d a S t a t u t o r y R e g u l a t o r y O r d e r ( S R O ) 3 8 2 ( 1 ) / 2 0 2 4 o n Tu e s d a y w h i c h s t a t e d “ i n t h e e x e r c i s e o f t h e p o w e r s c o n f e r r e d b y s u b - s e c t i o n ( 1 ) o f s e ct i o n 3 o f I m p o r t s a n d E x p o r t s ( C o nt r o l ) A c t 1 9 5 0 ( X X X I X o f 1 9 5 0 ) t h e f e d e r a l g o v e r n m e n t h a s d i r e c t e d t h a t t h e f o l l o w i n g f u r t h e r a m e n d m e n t s s h a l l b e m a d e i n t h e E x p o r t P o l i c y O r d e r, 2 0 2 2 The Order has been amended to include additional items in schedule-1 Following serial number 19 and its associated entries in columns (2) (3) and (4), new serial numbers and corresponding entries have been added, specifically for bananas and onions The ban on these items will be lifted on April 15 2024 According to the SRO new entries f o r b a n a n a s a n d o n i o n s h a v e b e e n added to the export ban list, following a p p r o v a l b y t h e F e d e r a l C o m m e r c e a n d t h e C a b i n e t a s r e q u i r e d f o r c h a n g e s i n t h e I m p o r t s a n d E x p o r t s (Control) Act 1950 Earlier on March 6 the Punjab chief secretary proposed a temporary ban on the export of bananas to Iran and Afghanistan, and of onions to Gulf states until the end of Ramazan
government
to restrict the export
onions and bananas has failed to bring any price relief for consumers Retailers continued
onion
Rs280-300 per kg while fruit vendors demanded Rs150 for small-sized bananas and Rs250-300 per dozen for large sized
However the
s decision
of
selling
in Pakistan The collaboration is aimed at promoting private-sector financing, particularly projects aligned with Sustainable Development Goals (SDGs), with a core focus on women and youth-led businesses In line with the theme of International Women s Day (IWD) this partnership underscores JS Bank and UNDP Pakistan s commitment to prioritize women-centric initiatives to foster gender impact within the realm of sustainable development and climate resilience Atif Salim Malik commented at the signing ceremony, “At JS Bank, we believe in the power of innovative ideas to drive economic growth and social
C O M M E R C E M I N I S T R Y B A N S E X P O R T O F O N I O N S , B A N A N A S T I L L A P R I L 1 5 PSL - Multan Sultans Team has joind hands with Pakistan Polio Eradication Program (PPEP) To sign this MoU, a formal event was recently held in Islamabad, attended by PPEP S Coordinator of National Emergency Oprations Center - Dr Shahzad Baig, along with Cricket team and its GM - Ms Hijab Zahid
ASHAR
ALI
JAFFRI
wishes will continue to shine upon me Green banking can play a pivotal role in fostering sustainable practices within the supply chain by integrating environmental criteria into financial decisions This approach incentivizes eco-friendly initiatives and ensures that funds are directed towards businesses committed to reducing their carbon footprint Offering preferential loans to companies can encourage adoption of green technologies or sustainable supply chain practices Not only does it benefit the environment but it also aligns with the growing consumer demand for eco-conscious products Green banking facilitates a sustainable supply chain through assessing environmental impact, funding sustainable projects and monitoring compliance
institutions tap into a lucrative market niche while catalyzing positive environmental and social impact Mounting pressure from investors and regulators compels companies to enhance transparency and disclose their supply chain practices This underscores the significance of sustainability efforts, with initiatives like ESG (Environmental Social and Governance) investing gaining traction Companies alignment with these trends helps financial institutions reduce financial risks enhance operational efficiency and bolster their reputation In conclusion it is evident that green banking serves as a strategic pathway towards greener future, enabling banks to actively engage in fostering sustainable supply chain As businesses increasingly recognize the importance of Assessment Green Financing Options Supplier Engagement Performance Metrics Risk Management Technology Integration Continuous Improvement sustainable practices, integrating green banking principles into the supply chain becomes imperative for fostering a resilient and environmentally conscious global economy
continue to shine upon me ISLAMABAD s ta f f r e p o r t Inspector General National Highways and Motorway Police (NH&MP) Salman Chaudhry specially invited Assistant Patrol Officer Irshad Hussain to his office and presented him with a certificate of appreciation and cash reward for setting a high example of courage and bravery in thwarting a robbery attempt IG Salman Chaudhry said that the officer setting an example of courage and bravery will be nominated for the Quaid-e-Azam Police Medal The National Highways and Motorway Police Officer set a great example of bravery and courage near Ratu Dero by foiling a robbery attempt and forcing the armed robbers to flee from the scene As per details Advancing sustainable supply chains through finance and green bank ing IG NH&MP reawards Patrol O fficer for setting example of courage, braver y in thwar ting robber y Engro Polymer & Chemicals empowers women in a groundbreaking forklift training program KARACHI s ta f f r e p o r t Engro Polymer & Chemicals (EPCL) a subsidiary of Engro Corporation along with Engro Foundation partnered with Descon Technical Institute to train the first batch of women forklift operators of Pakistan This initiative is in line with Engro's commitment to cultivating an inclusive culture, extending its impact to a broader community spectrum The training program Umeed-e-Nouh is a first-of-its-kind initiative aimed at empowering and equipping women with the knowledge and expertise for challenging technical roles This 7-week training program focused on training women to operate forklifts at manufacturing and supply chain sites After a thorough selection process, 21 out of 172 candidates were selected Regarding this groundbreaking initiative Jahangir Piracha CEO of Engro Polymer & Chemicals emphasized Engro remains steadfast in its commitment to advancing diversity through a dedicated focus on inclusion, particularly within technical domains Beyond offering training opportunities, our priority was to establish a nurturing environment that empowers and facilitates women enabling them to concentrate fully on their learning and gaining financial stability Benish Irshad joins Begin Watch as COO KARACHI s ta f f r e p o r t After over three years as chief operating officer of Brainchild, Benish Irshad has joined premium SVOD/TVOD OTT platform Begin Watch in the same role As COO of Brainchild, Benish was instrumental in winning various new business pitches She launched Publicis Media in Pakistan and has grown it into a power brand in the media investment management industry In her new role as COO of Begin Watch, she will be responsible for overseeing product development and licensee relationships Begin Watch has secured sports streaming deals with the Professional Golfers Association Saudi Premier League All Elite Wrestling Representatives from the SVOD/TVOD OTT platform are in talks with the Grand Slam tournaments F1 soccer and volleyball leagues for legal and licensed streaming deals On the entertainment side, Warner Brothers Discovery, Sony Pictures, and NBC Universal are reportedly on board as well The content will become available once the mobile app is live A subsidiary of MHL Begin Watch is quietly acquiring content across sports and entertainment for its launch across Pakistan Saudi Arabia, Bangladesh, Sri Lanka, and Nepal Backed by venture accelerator Z2C Limited, MHL is a technology company building the rails for a transparent media supply chain Begin Watch represents the first business to consumer (B2C) venture directly backed by Z2C Limited with both Pakistan Super League (PSL) and Coke Studio being indirectly backed through specialist advertising agencies
hosts prize distribution ceremony of 8th edition of OBR Global competition KARACHI s ta f f r e p o r t Celebrating literary excellence Oxford University Press Pakistan, organized the Prize Distribution Ceremony of the 8th edition of Oxford Big Read (OBR) Global competition at the OUPP Offices in Karachi and Lahore The ceremony was graced by winning students esteemed educators and proud parents In its 8th edition the Oxford Big Read (OBR) continues to inspire and engage students from across Pakistan This year, a remarkable 2641 entries were received from 67 schools nationwide, reflecting the growing enthusiasm for literature among the youth One of the highlights of OBR was the competition of Pakistani National Winners at the Global Level competing with students from other OUP
In the loving memory of my late father Justice (R) Syed Ali Aslam Jafri whose teaching and guidance made me who I am today Even though he may no longer be among us his prayers and best wishes will
OUP
KARACHI s ta f f r e p o r t I n t h e s p i r i t o f t h e h o l y m o n t h o f R a m a d a n , D a r a z , P a k i s t a n ’s l e a d i n g o n l i n e m a r k e t p l a c e , w i l l h a v e t w o s p e c i a l c a m p a i g n s - 3 3 a n d 4 4 d es i g n e d t o b r i n g f e s t i v i t i e s t o e v e r y P a k i s t a n i h o m
i n g p r o c e s s e s s t a t e d A r u s h a I m t i a z , C h i e f C o m m e r c i a l O ff i c e r a t D a r a z P a k i s t a n " T h r o u g h o u r R a m a d a n o ff e r i n g s , w e a r e e x c i t e d t o o ff e r a s e r i e s o f d e a l s t h a t a r e u n m a t c h e d i n v a l u e a n d v a r i e t y e n s u r i n g t h a t o u r c u s t o m e r s c a n f i n d e v e r y t h i n g t h e y n e e d a t p r i c e s t h e y l o v e M O V E A I M S AT S TA B I L I S I N G R I S I N G D O M E S T I C P R I C E S O F B OT H I T E M S I N M O N T H O F R A M A Z A N ISLAMABAD s ta f f r e p o r t Federal Minister for Finance and Revenue Mr Muhammad Aurangzeb visited the Federal Board of Revenue (FBR) Headquarters today and presided over a meeting to review revenue collection performance of FBR The Chairman FBR Malik Amjed Zubair Tiwana and Members of the Board attended the meeting Chairman FBR extended a warm welcome to the Minister on behalf of the FBR team He gave a detailed presentation on the revenue collection efforts and various revenue generation initiatives taken by FBR as well as issues currently being faced in revenue administration The Minister was briefed that FBR has successfully achieved the cumulative revenue collection target for the first eight months of the current financial year and is committed to achieve the overall target as well The Finance Minister appreciated the FBR team for their efforts in meeting the targets He called for expediting the reform process and digitisation of FBR for better performance and enhanced revenue generation The Minister also directed to evolve a mechanism to ensure transparency in tax collection system He assured the FBR team of his complete support in the performance of their duties and directed to increase their efforts to achieve the true tax potential Minister for Housing and Works chairs high level meeting of Estate Office ISLAMABAD s ta f f r e p o r t Mian Riaz Hussain Pirzada, Federal Minister for Housing and Works chaired a high level meeting of Estate Office The meeting was held to focus on devising strategies to curb the previous practice of illegal allotments and ensure transparency in the allocation process During the meeting, Mian Riaz Hussain Pirzada was apprised by Obbaid Ud Din, Director General, Estate office about the management and working of the department The Minister emphasized the importance of upholding the rule of law and maintaining the integrity of the allocation process Mian Riaz Hussain Pirzada reiterated the government s commitment to providing affordable housing solutions to the federal employees and general public while ensuring that all transactions are conducted in a fair and transparent manner He directed the concerned to conduct a thorough review of all previous allotments to identify any instances of illegality or irregularity and strict action will be taken against those found guilty He also directed to implement strong mechanisms to prevent future occurrences of illegal allotments and to streamline the allocation process to ensure efficiency and fairness Finance Minister visits FBR Headquar ters

PSC directs PEMRA to reassess fine on T V channels

PTI

ISLAMABAD s ta f f R e p o R t

“ P T I s p o k e s p e r s o n s a r e g e tting instructions from jail to harm P a k i s t a n a n d a c o n s p i r a c y i s b e i n g h a t c h e d s o t h a t t h e c o u nt r y s G S P - P l u s s t a t u s i s w i t hd r a w n a l l e g e d Ta r a r w h i l e s p e a k i n g t o m e d i a p e r s o n s i n I sl a m a b a d o n We d n e s d a y

“PTI has used the [lack of] facilities being provided to PTI founder [Imran Khan] in jail as an excuse to attack Pakistan s GSPPlus claimed the information minister

PM

He said that PTI was conspiring against Pakistan by creating a false narrative, adding that the party was making attempts to put the country’s economy at stake through a campaign based on lies

The GSP-Plus serves as a special incentive arrangement to promote good governance and

he added He further said that

was allowed to

of meetings during his imprisonment claiming that he was allowed to meet four days a week

Every prisoner is only allowed to meet once in jail according to the prison manual, he said

He said that the meetings in jail were banned on reports of terrorism near Adiala jail and these claims about PTI founder not being provided facilities were baseless Tarar said that it is the responsibility of the Punjab government to carry out a security audit and the responsibility of the jail authorities to ensure the security of all prisoners including the PTI founder

The minister said that a few elements were harming

for the betterment of the economy

PTI REJECTS TARAR’S CLAIM

A PTI spokesperson rejected the claims made by Tarar, saying that the minister ’s presser was nothing but “lies and accusations”

No letter has been written to the European Union and neither do we intend on writing such a letter said the spokesperson

The spokesperson said that those who “forcibly occupied the country are teaching patriotism to others adding that PTI is the most popular party and a reflection of the federation

Commander Bahrain National Guard calls on General Sahir Shamshad Mirza

RAWALPINDI s ta f f R e p o R t General Sheikh Mohammed Bin Isa Bin Salman Al Khalifa, Commander Bahrain National Guard, on Wednesday called on General Sahir Shamshad Mirza, Chairman Joint Chiefs of Staff Committee, at Joint Staff Headquarters Rawalpindi Matters of bilateral professional interest and further strengthening of security and defence cooperation between the two countries were discussed during the meeting Both sides reiterated the resolve to further strengthen security and defence cooperation between the two brotherly countries Earlier, upon arrival at Joint Staff Headquarters, a smartly turned-out tri-services contingent

IHC ser ves notice to Adiala jail superintendent in contempt plea

r i n g p u bl i c s a f e t y a n d o r d e r

pRayeR timiNgs FA J R S U N R S E Z U H R A S R MAG H R I B I S H A 5 : 1 5 6 : 1 2 1 : 3 0 5 : 0 0 6 : 2 5 8 : 0 0 Thursday 14 March 2024 news Published by Asad Nizami at Plot # 7 Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited Ph: 051-2204545 Email: newsroom@pakistantoday com pk RAWALPINDI s ta f f R e p o R t
AKISTAN Tehreek-e-Insaf founder and former prime minister Imran Khan on Wednesday warned of a looming financial crisis akin to that faced by Sri Lanka predicting further inflation and potential public unrest Speaking to media at Rawalpindi s Adiala Jail, Khan criticised what he described as ongoing “deception” within the country, condemning the recently-held general elections as fraudulent and alleging compromise within institutions Dismissing security threats as fabricated he asserted that the nation was being misled Institutions have been destroyed PTI was not allowed to compete in elections Although voters expressed their discontent on polling day, they did not accept the change through votes By snatching the mandate they have dashed the nation’s hopes ” Khan said He insisted that his previous predictions had come true reiterating concerns over a Sri Lanka-like scenario unfolding in Pakistan, with inflation rising and the populace bearing the brunt Khan clarified that no deals were being made and he is not even being allowed to meet his lawyers He pledged to continue peaceful protests against electoral fraud and vowed to take the matter to the Supreme Court Additionally, Khan warned of potential corruption in the upcoming Senate elections, referencing the case of PPP’s Yousuf Raza Gilani s son who was allegedly involved in misconduct during the previous Senate polls and has yet to face any repercussions I M R A N W A R N S O F S R I L A N K A - L I K E S I T U AT I O N I N PA K I S TA N A M I D S P I R A L L I N G I N F L AT I O N g R e g r e t s m a s s e s h o p e s h a v e b e e n d a s h e d t h r o u g h r o b b e r y o f p u b l i c m a n d a t e PESHAWAR s ta f f R e p o R t Khyber Pakhtunkhwa s Chief Minister Ali Amin Khan Gandapur, has made a significant announcement, declaring the inclusion of the heirs of police martyrs in the province’s Ramadan assistance package This decision was made during a pivotal meeting concerning law and order chaired by Chief Minister Gandapur and attended by high-ranking officials including the Chief Secretary and the Inspector General of Police In a bid to bolster law enforcement capabilities the meeting saw the allocation of 3 billion rupees for the procurement of armored vehicles and weaponry for the police force Furthermore, Chief Minister Gandapur s directive to extend support to the families of police martyrs underscores the government’s commitment to honoring their sacrifices Under the Ramadan package each heir of a police martyr will receive 10,000 rupees, aimed at providing financial relief and recognition for their loss Additionally in a move to address long-standing grievances the Chief Minister directed the establishment of a one-time quota for the recruitment of martyrs children into the police force This measure ensures that all eligible candidates awaiting recruitment will be given an opportunity simultaneously through the one-time quota M o r e o v e r C h i e f M i n i s t e r G a n d a p u r e m p h a s i z e d t h e i mp o r t a n c e o f e n h a n c i n g s e c ur i t y m e a s u r e s a c r o s s t h e p r o v i n c e , d i r e c t i n g t h e i n i t i ation of the Safe City project in d i v i s i o n a l h e a d q u a r t e r s H e s t r e s s e d t h e n e e d f o r a c o mp r e h e n s i v e p o l i c y t o s a f eg u a r d i m p o r t a n t i n d i v i d u a l s h i g h l i g h t i n g t h e g o v e r n m e n t s c o m m i t m e n t t o e n s u
Information Attaullah Tarar
cused the Pakistan
of “conspiring
deprive the country of GSP-Plus status
claiming that the party has been asking the European Union
the generalised system
preferences (GSP) Plus status granted
Pakistan
Federal Minister for
on Wednesday ac-
Tehreek-e-Insaf (PTI)
to
to revoke
of
to
sustainable development by facilitating trade Pakistan was awarded the status in 2014 which has now been further extended until 2027 The country enjoys duty-free or minimum duty on exports to the European market Tarar claimed that Khan was getting “luxurious facilities” in jail which are not available to any other person in prison
founder
kitchen
additional room,
gallery
walk in
The PTI
has been provided with a
an
a
to
and exercise equipment,
Khan
hold hundreds
the country for their political purposes and they tried to lead the country to default” “A political party does not see the national interest nor does it care about economic recovery said Tarar adding that PTI made a heinous conspiracy by writing a letter to the International Monetary Fund (IMF) Ad powered by advergic com Speaking about the current situation Tarar said Prime Minister Shehbaz Sharif holds three to four meetings on the country s economy every day The premier is working to end inflation and unemployment,” he said Tarar reiterated that the PM was working day and night
presented ‘Guard of Honour ’ to the visiting dignitary PR OFIT N e w s D e s k Finance Minister Muhammad Aurangzeb expressed Pakistan’s eagerness to negotiate a larger and longer financial lifeline from the International Monetary Fund (IMF) to accomplish macroeconomic stability in the country During his first-ever interaction with the media persons after assuming his office, Aurangzeb highlighted his priorities as finance minister and stated that GDP growth is directly linked to macroeconomic stability However he did not mention any specific amount Pakistan would be looking forward to requesting from the IMF and stated it would be premature to specify it at this point He stated that Pakistan has invited the IMF mission for the final review of the ongoing standby agreement (SBA) and this opportunity would also be used to initiate preliminary talks on a larger and longest Extended Fund Facility (EFF) programme The finance minister said that an IMF mission is expected to visit Pakistan from March 14-18, possibly extending to March 21 The finance minister did not commit if Pakistan would be seeking to augment the EFF with climate risk-related financing from the IMF as Bangladesh recently secured $3 3bn under the Resilience and Sustainability Facility (RSF) The finance minister expressed optimism about reducing inflation and achieving GDP growth through macroeconomic stability Aurangzeb also outlined priorities for economic reforms including enhancing revenue collection through the digitization of the Federal Board of Revenue (FBR) to increase transparency and fiscal space, aiming to double the tax-to-GDP ratio through technology and data analysis He highlighted the need to broaden the tax base to include sectors like wholesale real estate and agriculture moving away from reliance on temporary taxes Further, he discussed the government s strategy for improving the economy through public-private partnerships, notably in the Public Sector Development Programme (PSDP) and the importance of finalizing the sale of Pakistan International Airlines (PIA) within the fiscal year Aurangzeb stressed the significance of external investments and the role of the Special Investment Facilitation Council (SIFC) in attracting equity investments to support Pakistan’s economic goals
ISLAMABAD s ta f f R e p o R t The Islamabad High Court (IHC) on Wednesday issued a contempt of court notice to the Superintendent Adiala jail for not complying with the court order regarding a meeting with Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan IHC’s Justice Saman Riffat Imtiaz heard the plea filed by Allama Nasir Abbas secretary general of Majlis Wahdat-e-Muslimeen against restriction on meeting with PTI founder despite the court order The petitioner stated that IHC had allowed him to meet with the PTI founder in Adiala jail on March 8 but the Jail Superintendent didn t follow the court order and thus committed contempt of the court The petitioner requested the court to take strict action against the superintendent and order to allow meeting of PTI founder with family and counsels The court issued notice to the Superintendent Adiala jail on contempt of court for March 15 after hearing the arguments by the petitioner s counsel
longer financial lifeline
‘Pak istan eagers to negotiate larger,
from IMF’
rebuts
status
as Tarar claims ‘conspirac y
against GSP-Plus
of Pakistan
ISLAMABAD s ta f f R e p o R t The Supreme Court of Pakistan on Wednesday set aside the decision of Pakistan Electronic Media and Regulatory Authority (PEMRA) imposing fining of one million rupees each on 29 TV channels for running wrong news content in 2017 The apex court instructed the PEMRA to review the matter within three months on show-cause notices issued to these new channels Hearing the appeals of TV channels, SC s Justice Mansoor Ali Shah remarked that apparently the committee formed by PEMRA was not authorized to take such action It may be mentioned here that the PEMRA had imposed a fine on TV channels for the wrong news of a bomb blast in Lahore in 2017
Committee
ISLAMABAD s ta f f R e p o R t A meeting of the apex committee of Special Investment Facilitation Council (SIFC) has been called under the chairmanship of Prime Minister Shehbaz Sharif Thursday According to the details, Chief of Army Staff (COAS) General Syed Asim Munir will also attend the Apex Committee meeting Apart from this former Caretaker Prime Minister Anwaar-ul-Haq Kakar and Caretaker Cabinet have also been invited to the meeting In the meeting, a detailed briefing will be given to the members related to SIFC and issues related to investment in the country will be reviewed The meeting will be held tomorrow (Thursday) at 12:00pm in Prime Minister House in Islamabad
CM includes police mar tyrs’ families in Ramazan assistance package g A u r a n g z e b o u t l i n e s h i s p r i o r i t i e s f o r e c o n o m i c r e f o r m s, i n c l u d i n g e n h a n c i n g r e v e n u e c o l l e c t i o n t h r o u g h F B R ’ s d i g i t i s a t i o n ISLAMABAD s ta f f R e p o R t Khyber Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur has directed the authorities concerned for necessary amendments in the relevant law in order to ensure protection of women’s rights in inheritance Chairing a meeting of the Board of Revenue he also directed for pragmatic steps for completing phase-I of the ongoing land record computerization project by June 2024 and phase-II by December 2024 He said that deployment of required necessary staff at districts level should also be ensured well before the process of land record computerization is completed Provincial Minister for Revenue Nazir Abbasi, Senior Member Board Revenue Ikramullah Khan, P r i n c i p a l S e c r e t a r y t o C h i e f M i n i s t e r A m j a d A l i K h a n a n d o t h e r r e l e v a n t o ff i c i a l s a t t e n d e d the meeting
andapur for amending to inheritance law to protec t women’s rights SBP secures Rs55.95b from PIBs sale, falls shor t in target PR OFIT N e w s D e s k The State Bank of Pakistan (SBP) secured Rs55 95 billion from the sale of fixed-rate Pakistan Investment Bonds (PIBs), missing its Rs 125 billion target According to results shared by the SBP, the auction which offered 3-year 5-year and 10-year PIBs totaling Rs253 55 billion did not attract bids for the 15 20 and 30-year bonds The central bank acquired Rs34 965 billion for the 3-year bonds Rs10 833 billion for the 5-year, and Rs 558 million for 10-year bonds through competitive bidding An additional Rs9 862 billion was raised from noncompetitive bids, culminating in the total funds raised Yields for the bonds were set at 16 78% for 3 years 15 49% for 5 years and 14 35% for 10 years marking a slight decrease from the previous auction held on February 14 2024 This reduction in yields 2 basis points (bps) for the 3-year, 6 bps for the 5-year, and 15 bps for the 10-year bonds reflects growing optimism for an impending rate cut following a drop in inflation to a 20month low in February
summons SIFC Apex
today
KP
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