PR OFIT A G E N C I E S P A K I S TA N and Saudi Arabia reaffirmed their commitment to expediting the first phase of the previously discussed investment package worth $5 billion According to the state-run news agency, Prime Minister Muhammad Shehbaz Sharif called on Saudi Crown Prince Mohammed Bin Salman on Sunday at Al-Safa Palace in Makkah The discussions between the two leaders centered on fortifying the fraternal relations between Pakistan and Saudi Arabia and exploring avenues for enhanced collaboration across various sectors Emphasis was laid on the Kingdom’s supportive role in Pakistan’s economy and the mutual desire to strengthen trade and investment ties said the joint statement issued after the meeting Two sides discussed the need for advancing the peace process in accordance with relevant resolutions of the Security Council and the General Assembly as well as the Arab Peace Initiative aimed at finding a just and comprehensive solution to establish an independent Palestinian state with East Jerusalem as its capital The two sides also stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region The Crown Prince congratulated Prime Minister Shehbaz Sharif on assuming the office and expressed warm wishes for his tenure Prime Minister Shehbaz also conveyed gratitude for the Kingdom’s steadfast support and hospitality and reaffirmed Pakistan’s commitment to bolstering bilateral ties and economic cooperation PM Shehbaz invited the Crown Prince to undertake an official visit to Pakistan at the earliest convenience which he accepted In par tnership with Profit Tu e s d a y, 9 A p r i l , 2 0 2 4 I 2 9 Ra m a z a n , 1 4 4 5 R s 5 0 0 0 | Vo l X I V N o 2 8 2 I 3 6 Pa g e s I La h o r e E d i t i o n President Zardari to address joint parliament on April 16 ISLAMABAD S TA F F R E P O R T President Asif Ali Zardari is due to deliver an address to the joint session of the parliament on April 16, marking the commencement of the parliamentary year following the general elections The joint session is scheduled for Tuesday April 16th at 4:00 PM as announced by a press statement from the President House This address falls under the constitutional provision outlined in Article 56(3), which mandates that “At the commencement of the first session after each general election to the National Assembly and at the commencement of the first session of each year the President shall address both Houses assembled together and inform the Majlis-e-Shoora (Parliament) of the causes of its summons ” President Zardari has summoned the joint parliamentary session exercising the authority vested in him under Articles 54(1) and 56(3) of the Constitution PA K I S TA N , S A U D I A R A B I A R E A F F I R M C O M M I T M E N T T O A C C E L E R AT E I N I T I A L P H A S E O F $ 5 B N I N V E S T M E N T PA C K A G E ISLAMABAD S TA F F R E P O R T President Asif Ali Zardari has called for a session of the upper house of Parliament on April 9th, 2024, for the swearing-in of newly-elected members and the election of the Senate chairman and deputy chairman This move comes despite opposition from the Pakistan Tehreek-e-Insaf (PTI) citing an incomplete house According to an announcement by the President House late Sunday night, “In exercise of the powers conferred by Clause (1) of Article 54 of the Constitution of the Islamic Republic of Pakistan President Asif Ali Zardari has summoned the Senate to meet in the Parliament House Islamabad on Tuesday, the 9th April 2024 at 09:00 am In the Senate session, newly-elected senators will take oath and an election for the constitutional post of chairman Senate and deputy chairman Senate will be held The presiding officer nominated by the prime minister will administer the oath to the newly-elected senators Members elected in the by-elections of the Senate on vacant seats will also be administered the oath In the house of 96 members 85 senators will take oath as the elections on 11 seats of Khyber Pakhtunkhwa were postponed by the Election Commission of Pakistan The Senate elections were held last week except in KP where the polls were postponed as the provincial Assembly remained incomplete following the non-administration of oath to members elected on the reserved seats Wi t h r e g a r d s t o t h e e l e c t i o n s f o r t o p posts in the Senate, the PPP has nominated f o r m e r p r i m e m i n i s t e r S y e d Yu s u f R a z a Gilani for the chairman Senate slot while PML-N has not nominated anyone for the p o s t o f d e p u t y c h a i r m a n T h e P M L - N i s m u l l i n g a w o m a n l a w m a k e r o n t h e p o s t and an announcement in this regard is expected today Meanwhile, the main opposition party, PTI has not nominated its candidate for the post of chairman Senate to challenge the joint candidate of the ruling coalition PA RT Y P O S I T I O N: Gilani the nominee for the post of chairman Senate has the support of 24 PPP senators, 19 of PMLN, four of BAP, three senators of ANP, three independents and one senator of the National Party taking the total tally to 54 If three MQM-Pakistan senators and five JUIF senators also support Gilani, then the tally of votes will be 62 which suggests that the ruling coalition nominee will be in a comfortable position to be elected On the other hand, PTI has the support of 20 senators one each from BNP and PML-Q which brings the total to 22 If the JUI-F chooses to sit with the opposition then it would have a strength of 27 members S e n a t e m e e t s t o d a y t o e l e c t n e w C h a i r m a n , d e p u t y ISLAMABAD S TA F F R E P O R T The Counter Terrorism Department (CTD) is making significant strides in uncovering the mystery behind threatening letters sent to judges of the Supreme Court and various high courts Following the receipt of a forensic report analyzing the handwriting in the letters, key developments have emerged in the investigation The department has matched the letters addressed to judges of the Supreme Court Islamabad and Lahore High Courts Forensic analysis indicates that all three sets of letters were authored by the same individual identified as Resham Reshaman and Gulshad Khatun and were dispatched through the same post office Sources within CTD disclosed that a single mastermind is responsible for sending these threatening letters further noting that the arsenic found in the letters was purchased by the same individual Progress is being made in tracing the origin of the arsenic purchase The identification process using CCTV footage near post boxes is ongoing, as investigators continue to piece together crucial evidence Since April 2 when the Supreme Court initiated suo motu proceedings over allegations against spy agencies, several judges, including Chief Justice Qazi Faez Isa have received suspicious anthrax-laced letters This alarming trend prompted a thorough police investigation and led to the assignment of CTD to identify the culprit C TD ‘making head way ’ in investigation of threat letters to judges ISLAMABAD S TA F F R E P O R T Pakistan Tehreek-e-Insaf (PTI) on Monday took a strong exception to the announcement of the elections for the slots of Chairman and Deputy Chairman of senate from an incomplete Electoral College and decided to boycott the unconstitutional polls, demanding the court to postpone the polls until the house was completed PTI Spokesperson said that the elections for the positions of the Chairman and Deputy Chairman of the Senate without the representations from all federating units was unconstitutional and unacceptable He vowed that PTI would not tolerate the insult of the upper house to select the unelected persons on the constitutional positions of the state from the incomplete Electoral College PTI Spokesperson made it clear that electing Chairman and Deputy Chairman of Senate in absence of senators from KhyberPakhtunkhwa (KP) would be tantamount to murder of democratic values and traditions He lamented that the process of violation of the constitution and democratic principles by the unconstitutional government of form-47 continued sans any interval PTI spokesperson said that after the postponing the Senate election in KP the election of the Chairman and Deputy Chairman of the Senate was a continuation of the conspiracy to ambush the public mandate He went on to say that keeping KP like important federating unit out of the electoral process was part of the nefarious and shameful attempts of a biased group to sow the seed to provincial discard and hatred PTI spokesperson vowed that they would not accept the Chairman and Deputy Chairman selected from an incomplete house come what may He urged that the court should take notice of the ongoing attempts to deviate from the constitution to elect Chairman and Deputy Chairman in absence of KP Senators and issued strict orders to defer the polls until the Upper House was completed PTI decides to boycott ‘unconstitutional’ Senate Chair man, deputy election g P M S H A R I F M E E T S W I T H S A U D I C R O W N P R I N C E M O H A M M E D B I N S A L M A N A N D I N V I T E S H I M TO V I S I T PA K I S TA N g T W O S I D E S S T R E S S E D F O R S TA R T O F D I A LO G U E B E T W E E N PA K I S TA N, I N D I A TO R E S O LV E O U T S TA N D I N G I S S U E S PR OFIT A H M A D A H M A D A N I Inflation-hit masses would face an additional burden as the National Electric Power Regulatory Authority (NEPRA) on Monday jacked up the electricity tariff by Rs 4 9213 per kilowatt hour (kWh) on account of variations in the fuel charges for February 2024 “The authority after incorporating the aforementioned adjustments has reviewed and assessed a National Average Uniform increase of Rs 4 9213/kWh in the applicable tariff for DISCOs on account of variations in the fuel charges for February 2024,” said NEPRA’s decision on FCA of February 2024 NEPRA in a notification issued here said that this adjustment shall apply to all the consumer categories except Electric Vehicle Charging Stations (EVCS), lifeline consumers, and consumers of the K-Electric This adjustment shall be shown separately in the consumer ’s bills based on units billed to the consumers in February 2024 While affecting the Fuel Adjustment Charges the concerned DISCOs shall keep in view and strictly comply with orders of the courts notwithstanding this order, said NEPRA’s notification The power regulator through its decision also directed the Central Power Purchasing Agency (CPPA) to develop a proper mechanism for Inter DISCOs settlement of FCA worked for each DISCO and the FCA charged from consumers after consultation with distribution companies, to ensure proper accounting of energy and cost of each DISCO as per their basket Earlier the CPPA on the proposal of distribution companies (DISCOs) requested the NEPRA to increase the electricity price by Rs 4 9917/unit under the FCA of February 2024 Following this request the NEPRA called a public hearing on March 28, 2024 The CPPA, in its application, claimed that the total electricity generated with various fuels in February 2024 was recorded a 7 130 GWh at Rs 8 6950 per unit The total cost of energy was Rs 61 996 million The power generation with the hydel source was 1,766 GWh (gigawatt per hour) constituting 24 77 percent with zero cost of power generation while power production with coal-fired power plants was 1 291 GWh (local + imported coal: 994+ 135 GWh) which was 15 83 percent and the total power generated for Rs 16827 million (Rs 34 4061/unit) Similarly, the power generation from gas-based power plants was 787 GWh, 11 04 percent of the total generation totaling Rs12 3794 per unit and the generation from Re-gasified Liquefied Natural Gas (RLNG) was 1 450 GWh which was 20 33 percent of total generation at Rs 22 0262 per unit Likewise power production from bagasse was recorded at 101 GWh, the price of which has been calculated at Rs 5 9822 per unit The electricity generated from wind was recorded at 108 GWh 1 51 percent of total generation and solar at 90 GWh 1 26 percent of the total generation in February 2024 Moreover, electricity generation from nuclear sources was 1,660 GWh which came out at Rs1 3213 per unit, 23 29 percent of the total generation and electricity imported from Iran was 26 GWh amounted to Rs 27 1968 per unit 0 36 per cent of the total power generation in the said month of February 2024 It is also learnt from the data submitted by the CCPA with NEPRA that net electricity delivered to DISCOs in February 2024 was 6 876 GWh (96 43pc) at a rate of Rs 9 4254 per unit the total price of which was Rs 64 804 million g P O W E R R E G U L ATO R I N C R E A S E S E L E C T R I C I T Y R AT E S O N A C C O U N T O F VA R I AT I O N S I N F U E L C H A R G E S F O R F E B R U A R Y 2 0 2 4 NEPRA jacks up power tariff by Rs 4.92 per unit
Tuesday 9 Apr l 2024 LAHORE 02 NEWS PR OFIT n e w S D e S k S TA RT I N G July 1, 2024, the government is expected to align the gas tariff for captive power plants (CPPs) with the price of Re-gasified Liquefied Natural Gas (RLNG) following directives from the International Monetary Fund (IMF) Energy Ministry officials indicate that the current rate of Rs2,750 per MMBTU for CPPs will be revised to match RLNG prices due to efficiency concerns and grid connectivity issues While the government sought to delay the transition of CPPs to the national grid until December 2024 the IMF insists on completing the process by June 2024, necessitating the tariff adjustment This move is aimed at standardizing energy costs and enhancing the efficiency of power production especially for CPPs primarily within the Sui Southern network which have an efficiency rate of 30-35% The impending tariff adjustment also includes considerations for the power sector, with the current gas price for power plants at Rs1050 per MMBTU Sui Southern and Sui Northern gas companies have proposed significant tariff increases to cover revenue shortfalls with anticipated adjustments of 10-15%, translating to an increased revenue impact of Rs100-150 billion Furthermore the government plans to avoid additional tariff hikes for domestic consumers who have already faced substantial increases The focus remains on managing the financial health of the gas sector, addressing the circular debt, and rationalizing energy prices to ensure sustainable supply and consumption patterns GOVT TO ALIGN CPP GAS TARIFF WITH RLNG RATES FOLLOWING IMF ADVICE PR OFIT n e w S D e S k The Japanese government has issued a warning to Pakistan indicating a potential move to the World Trade Organisation (WTO) over the mandated export of vehicles by its car manufacturers in Pakistan This development follows Pakistan’s directive to its three major Japanese car assemblers Indus Motor Company (Toyota) Honda Atlas Cars Pvt Ltd and Pak Suzuki Motors Limited to increase their export activities, a demand seen by Japan as a violation of WTO regulations The controversy centers around the Auto Industry Development and Export Policy (AIDEP) 2021-26 which enforces a gradual increase in export obligations for automobile manufacturers in Pakistan setting targets that reach 10% of their total imports by 2025-26 This policy, alongside Pakistan’s adherence to the United Nations Economic Commission for Europe (UNECE) WP-29 vehicle regulations aims to boost the local automotive industry s export capacity However, the Special Investment Facilitation Council (SIFC) observed a lack of export initiatives by these Japanese firms, leading to a temporary suspension of their import quotas The Pakistani government has requested revised export plans from these companies to align with the AIDEP objectives Japan has formally expressed its concerns through multiple channels, including Pakistan’s WTO and Tokyo missions and its Commerce and Industries ministries arguing that the forced export policy infringes on WTO agreements Pakistan maintains that its actions are in compliance with WTO rules The issue is set for bilateral discussions between the two governments with the possibility of escalation to the WTO if a mutual agreement is not reached The WTO dispute resolution process may be invoked if Japan remains dissatisfied with Pakistan’s justifications potentially leading to formal proceedings The car manufacturers argue their noncompetitiveness in exports is due to additional tariffs, the lack of free trade agreements (FTAs) for automotive parts, and the limited market for right-hand drive vehicles They advocate for zero-rated FTAs and local industry development to enhance export competitiveness Currently the auto sector in Pakistan faces 25 legal cases predominantly involving new market entrants, highlighting the sector ’s broader regulatory and operational challenges The Japanese Ambassador to Pakistan has engaged with Pakistani officials to discuss these export and quota issues underscoring the diplomatic and trade tensions between the two nations g C A R M A N U FA C T U R E R S C I T E H I G H TA R I F F S , L A C K O F F TA S , A N D A S M A L L M A R K E T F O R R I G H T - H A N D D R I V E V E H I C L E S A S R E A S O N S F O R T H E I R E X P O R T C H A L L E N G E S g T H I S M O V E I S A I M E D AT S TA N D A R D I Z I N G E N E R G Y CO S T S A N D E N H A N C I N G E F F I C I E N C Y O F P O W E R P R O D U C T I O N J a p a n t h re ate n s W TO a c t i o n ove r Pa ki s t a n’s a u to ex p o r t p o l i c y OGDCL discovers tight gas reser ves in Sindh PR OFIT n e w S D e S k Oil and Gas Development Company Limited (OGDCL) has discovered gas at its exploratory Well Nur West 1, located in district Sujawal, Sindh According to a notice issued by the OGDCL to the Pakistan Stock Exchange (PSX) the oil and gas exploration giant has discovered new reserves as the 100% operator of Nur Development & Production Lease (D&P L) The structure of Nur West 1 was drilled and tested using OGDCL s in-house expertise to a depth of 2975 meters The well tested 1 24 million standard cubic feet per day (MMSCFD) of gas through a 32/64″ choke at a wellhead flowing pressure of 150 Pounds per Square Inch (PSI) from the Lower Goru Formation ( A Sand) The discovery is being evaluated as tight gas, natural gas reservoirs locked in extraordinarily impermeable, hard rock, making the underground formation extremely tight The discovery at Nur West 1 stemming from the Company s diligent exploration strategy paves the way for new avenues that will contribute to augmenting the hydrocarbon reserve base of OGDCL and the country In furtherance of strategic direction, OGDCL has embarked on a fasttrack implementation of its tight gas exploration program underlining its commitment to enhancing energy resources read the notice PR OFIT n e w S D e S k The World Bank has recommended that Pakistan establish a single agency for General Sales Tax (GST) collection to streamline fiscal policies and enhance revenue This proposal part of the bank s latest policy advice aims to consolidate various federal and provincial revenue agencies into one, aligning federal and provincial expenditures with constitutional mandates In addition to GST harmonization the World Bank has emphasized the importance of effective taxation on agriculture, capital gains, and real estate to
The
bank has also suggested implementing new Fiscal Responsibility and Debt Limitation Acts at both federal and provincial levels This includes developing a national medium-term fiscal framework through the Fiscal Year 2025 budget process, aiming for tangible progress on GST harmonization across the federation The recommendations extend to the taxation of urban immovable
harmonized
the unification of tax
across various sectors
the World Bank has advised the government to close existing corporate and sales tax exemptions and compensate affected households through enhanced social protection This is part of broader revenue reforms intended to expand the tax base improve progressivity and simplify compliance The Planning Commission is preparing a national planning framework for the National Economic Council to ensure resource deployment through federal and provincial synergy reflecting the 7th National Finance Commission Award and the 18th constitutional amendment This framework aims to promote balanced development and regional equity as shared responsibilities of both federal and provincial governments
in Pakistan g B A N K A L S O S U G G E S T S I M P L E M E N T I N G N E W F I S C A L R E S P O N S I B I L I T Y A N D D E B T L I M I TAT I O N A C T S AT B O T H F E D E R A L A N D P R O V I N C I A L L E V E L S IFC approves $400m debt financing to PTCL for Telenor acquisition PR OFIT n e w S D e S k The International Finance Corporation (IFC) has approved the debt financing of up to $400 million to Pakistan Telecommunication Limited (PTCL) for the acquisition of Telenor Pakistan Limited (TPL) This information was publicised by the PTCL through a notice to the Pakistan Stock Exchange (PSX) on Monday under rule 5 6 1 of the Rule Book of the PSX with Section 96 and other enabling provisions of the Securities Act 2015 The finalisation of workstreams to sign financing agreements with IFC a subsidiary of the World Bank is underway and expected to be completed on or before July 31, 2024, the PTCL said in its notice Also Read This: Three months later, PTCL’s acquisition of Telenor continues through sluggish approval process It further added that the details of the debt financing shall be disclosed upon the finalisation of financing agreements In case of any development in this respect, PSX shall accordingly be notified as per applicable laws Back in October last year, it was reported that PTCL was in talks with the International Finance Corporation to secure a loan of $400 million for the acquisition of Telenor Pakistan PTCL s recent notice recalls that on December 14, 2023, its board notified that the telecom giant has entered into a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan for the acquisition of 100% shares based on an enterprise value of Rs 108 billion on a cash-free debt-free basis The transaction will be financed by external debt that the PTCL will raise PTCL, which holds a 100% stake in Ufone and U Microfinance Bank, is 62% owned by the Government of Pakistan and 26% by the UAE s telecom operator Etisalat by e& Bilawal calls on Asfandyar Wali, condoles death of his wife PESHAWAR S ta f f R e p o R t Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari called on President Awami National Party (ANP) Asfandyar Wali Khan at Wali Bagh Charsadda and condoled with him death of his wife The PPP chairman met both Asfandyar Wali Khan and Aimal Wali Khan to express condolence with them He offered fateha for the eternal peace of the wife of Asfandyar Wali Khan and mother of Aimal Wali Khan and fortitude to her other family members Bilawal Bhutto Zardari was accompanied by President PPP KP chapter Mohammad Ali Shah Bacha Senator Yousaf Raza Gilani Senator Sherry Rehman Faisal Karim Kundi Naveed Qamar Nasir Shah Shazi Khan, Kiramat Chagarmati, Hamayun Khan, Asma Arbab Alamgir and other party leaders Local PPP leaders including Amjad Khan Afridi, Farzand Wazir, Ibrar Saeed, Ziaullah Afridi Arbab Zarak Khan Zahir Ali Shah Shoaib Alam Naeem Khan Umerzai Bacha Said Arif Gul and Pir Aftab Uthmanzai also accompanied the party chairman and expressed condolence with Aimal Wali Khan MULTAN Z
R
S a i n Pakistan Tehreek-e-Insaf (PTI) leader Sardar Latif Khosa has asserted that PTI founder Imran Khan will walk free from jail in current month The former prime minister ’s sentence in the Toshakhana case has been suspended by the court while the cipher case will not stand even a week he said during his appearance on a private TV channel Downplaying former prime minister Imran Khan’s conviction in the cipher case Khosa said that the documents were not presented before the court in the case while the PTI founder s presence was not proved in any case related to the May 9 riots The PTI leader reiterated that the PTI founder will neither cut a deal for his release nor will he leave the country According to Latif Khosa Khan wanted all institutions to act as per the Constitution of Pakistan and was against the politics of revenge On political dialogue, the PTI leader said that the dialogue with the PTI founder will be possible after returning the party’s mandate it secured in the February 8 election Taking aim at the government he said that Prime Minister Shehbaz Sharif could not even appoint a home minister of his own choosing E a r l i e r P T I l e a d e r B a r r i s t e r Gohar Ali Khan doubled down on the party s claims that Imran Khan will be o u t o f j a i l t h i s m o n t h d u r i n g h i s a pp e a r a n c e o n T V Te r m i n g t h e c a s e s a g a i n s t t h e P T I f o u n d e r p o l i t i c a l l y motivated cases”, he said that all the cases against Khan were meeting their demise in the courts Barrister Gohar claimed that the convictions of the PTI founder and his wife in the Iddat case will be set aside within four days by the courts He alleged that Imran Khan s legal team was not provided with opportunities to cross-talk or present their arguments in the cases against him in different courts L atif K hosa hopes PTI founder to be released this month Saudi religious leader Dr Al-Issa reaches Pakistan ISLAMABAD S ta f f R e p o R t Dr Mohammad bin Abdulkarim Al-Issa a renowned figure in the field of religion and philanthropy, reached Pakistan for a significant visit from 7th April to 16th April 2024, aimed at fostering interfaith dialogue and cooperation As the Secretary General of Muslim World League and Chairman of Council of Muslim Scholars Dr Al-Issa has long been at the forefront of promoting a more inclusive and tolerant understanding of Islam Dr Al-Issa s efforts to combat Islamophobia and promote religious coexistence have garnered international acclaim In 2019 he spearheaded a groundbreaking dialogue among Muslim and non-Muslim scholars resulting in the signing of The Charter of Makkah a testament to his dedication to fostering understanding and mutual respect During his current visit to Pakistan, Dr Al-Issa is set to lead the Eid-ul-Fitr prayer at Faisal Mosque one of the largest mosques in the world located in the capital city of Islamabad Additionally he will inaugurate the groundbreaking Seerat-un-Nabi (PBUH) Museum, the first of its kind in Pakistan, dedicated to showcasing Prophetic Relics and employing modern technologies such as virtual and augmented realities to elucidate the life and teachings of the Holy Prophet Muhammad (Peace Be Upon Him) Dr AlIssa s itinerary also includes high-level meetings with key figures in the Pakistani government, including the Prime Minister, Chief Justice, and Chief of Army Staff, underscoring the importance of fostering strong diplomatic and cultural ties between Pakistan and Saudi Arabia Dr Al Issa s visit comes on the heels of his previous accolades, including the prestigious Hilal-ePakistan award conferred upon him by the President of Pakistan in 2022 for his humanitarian efforts and role in strengthening the bond between the two nations As Dr Al-Issa continues to champion interfaith dialogue and promote a message of peace and tolerance, his visit to Pakistan serves as a testament to the enduring importance of collaboration and understanding in building a more harmonious world
mobilize revenues from underutilized sources
advice comes as part of preparations for the next fiscal year s budget and is expected to be discussed by Finance Minister Muhammad Aurangzeb with the International Monetary Fund (IMF) during the upcoming World BankIMF spring meetings in Washington The
property agricultural income and capital gains with the World Bank calling for updates to
valuation tables for property tax and
treatments
The goal is to improve the tax-toGDP ratio which has remained a challenge since the 7th National Finance Commission award of 2010 Further
WB c alls for unified GST collec tion, tax reforms
awa
H u S
Qprison since June 1 last year in connection with multiple cases registered against him Elahi was taken into custody by anti-corruption officials from near his residence in Lahore on
June 1 in the Rs70 million corruption case related to the embezzlement of development funds allocated for the Gujrat district Since then the former Punjab chief minister was re-arrested multiple times after being released on the orders of the relevant courts Firing a fresh salvo at the PML-Q leadership, she said: Shujaat Hussain s sons call themselves the heirs of Zahoor Elahi but his
f r e h a b c e n t e r s t o t r e at, c u r e a i l i n g w i l d l i fe : M i n i s t e r
all set to
on Tuesday (tomorrow) for the sighting of Shawwal-ulMukarram moon Chairman of the committee Maulana Syed Abdul Khabir Azad will preside over the meeting scheduled in Islamabad The meeting will take place at the Ministry of Religious Affairs and Interfaith Harmony Esteemed members from various institutions including the Ministry of Science and Technology, the Pakistan Meteorological Department, and the Space and Upper Atmosphere Research Commission (SUPARCO) will attend the meeting
Zonal members from Islamabad Lahore Karachi Quetta and Peshawar will also contribute to the deliberations Maulana Azad has emphasised the importance of public involvement and encouraged the citizens to actively engage in the moon sighting for Shawwal-ul-Mukarram Individuals have been urged to report any sightings to designated contact numbers: 03219410041/0333-9100619, 03006831822, and 051-9201425
According to the meteorological department the Shawwal moon is likely to be seen on April 9 across the country
While predicting the appearance of Eidul Fitr moon, the department said it would conjunct with the sun on April 8 at 11:21pm (local time)
On April 9 the age of the moon would be 19 to 20 hours and it would be visible to naked eye for about 50 minutes after sunset The first of Shawwal would be on April 10, it said The Met Office forecast that in the southern regions of the country the sky would likely be clear while it could be cloudy in the northern regions
Meanwhile Maulana Abdul Khabir Azad has also talked about the possibility of 29-day Ramazan based on scientific findings
The officials in Saudi Arabia will also sit today for moon sighting but the chances are bleak for the Shawwal moon today
It is being predicted that the Eidul Fitr will fall on the same day both in Pakistan and Saudi Arabia
Poonch, Hattian, Bagh, Haveli, Sudhanoti, Kotli, Bhimber and Mirpur with occasional gaps from April 10-15 Isolated heavy fall and hailstorm is also expected from April 13-15
In Punjab/Islamabad
Tuesday 9 Apri 2024 | LAHORE NEWS 03 PIA announces pre-Hajj operation from May 9 to June 10 ISLAMABAD S ta f f R e p o R t Pakistan International Airline (PIA) Monday announced starting its pre-Hajj operation from May 9 to June 10 this year During the pre-Hajj operation more than 20 000 Hajj pilgrims will travel to Saudi Arabia As per schedule, on the first day of the PIA pre-Hajj operation, flights will depart from different cities of the country including Lahore, Karachi, Islamabad, and Peshawar on May 9 Through the PIA flights on the first day of the pre-Hajj operation more than a thousand pilgrims will depart for Saudi Arabia As per the schedule, PIA s special Hajj and scheduled flights will operate to two cities in Saudi Arabia–Jeddah and Madinah During the pre-Hajj operations PIA will use the planes of Boeing 777 and Airbus A320 for the travelling of pilgrims from Pakistan PIA s direct flights will be operated from Karachi, Islamabad, Lahore, Peshawar, Quetta, Sialkot, and Multan while pilgrims from Faisalabad will use connecting flights According to the schedule PIA’s post-Hajj operations will begin from June 20 to July 21 Sindh gov t notifies 4-day Eid holidays KARACHI S ta f f R e p o R t The Sindh government on Monday announced to observe Eid-ul-Fitr holidays from April 10 to 13 across the province The notification issued by the Sindh Services General Administration and Coordination Department announced public holidays for all government offices autonomous bodies semi-autonomous bodies, corporations and local councils under the administrative control of the Sindh government except essential services As per the notification the holidays in the province will be observed from April 10 to 12 in the offices having five working days a week and from April 10 to 13 in the offices having two off days at the weekend S I N D H G O V T N O T I F I E S 4- D AY E I D H O L I D AY S : The federal government has already notified similar Eid holidays on April 4 As per the notification released by the Federal Cabinet Division the offices observing five working days a week will observe three public holidays from April 10 to 12 and the offices observing six working days will observe four public holidays from April 10 to 13 Moreover the State Bank of Pakistan (SBP) also announced that the central bank will remain closed from 10th to 12th April 2024 (Wednesday to Friday) being public holidays on the occasion of Eid-ul-Fitr The Met Office had on April 1 predicted that the first day of Eid-ul-Fitr would fall on April 10 as the Shawwal moon was expected to be sighted on April 9 The Pakistan Meteorological Department (PMD) had said the crescent would be born on April 8 at 11:21pm and it would be aged between 19 and 20 hours the next day around Maghrib prayer The crescent could be spotted for over 50 minutes around the sundown it said The PMD said the sky in most parts of the country would be clear on April 9 However, it added that the sky might be cloudy in northern areas ISLAMABAD S ta f f R e p o R t The Central Ruet-e-Hilal
Committee is
meet
Ruet- e
today for S haw wal
sighting GUJRAT S ta f f R e p o R t
-Hilal Committee to sit
moon
A I S E R A E L A H I, the wife of incarcerated Pakistan Tehreek-e-Insaf (PTI) President and former Punjab chief minister Chaudhry Parvez Elahi on Monday said that her husband still sincerely stood with his party s founder Imran Khan Addressing a joint press conference along with Shujaat Hussain s sister, Sumaira Elahi, in Gujrat, Qaisera Qaisera said: Parvez Elahi still sincerely stands with Imran Khan ” At the same time, she blamed incumbent Interior Minister Mohsin Naqvi for creating rift between her husband and PML-Q chief Chaudhry Shujaat Hussain Differences emerged within the Chaudhry clan an influential political family in Punjab’s Gujrat last year after Elahi announced supporting PTI founder Imran Khan while his cousin Shujaat was standing with his old friends PPP Co-Chairman Asif Ali Zardari and the Sharif family Referring to the upcoming by-election in PP-32 Gujrat constituency, she said: I am surprised that 25-year-old milk-drinking baby Musa Elahi is contesting elections against 78-year-old Parvez Elahi ” Musa Elahi is the son of Chaudhary Wajahat Hussain the younger brother of the PML-Q chief Parvez Elahi at the age of 78 is still brave enough to bear hardships she added It is pertinent to mention here that Elahi has been lingering in
politics had never been like this ” If Zahoor Elahi’s politics was to raid political opponents houses and picked them up she asked Raising questions over the level playing field in the upcoming by-polls Qaisera said that their polling agents and workers were being arrested by the police on the directions of their rival candidates It is pertinent to mention here that Elahi had announced to contest PP-32 by-election from Gujrat The seat fell vacant after Chaudhry Salik Hussain retained his MNA seat She accused Salik Hussain and Shafay Hussain of violating the sanctity of “chadar and char dewari a metaphor used to show women s dignity and one s protection inside the four walls of the house She also accused the two brothers of stealing the February 8 general elections and vowed that they would not let it happen again in the by-polls “Shujaat Hussain’s son divided the family into two factions for power ” Qaisera alleged His sons used Shujaat as tissue paper she insisted adding that they split the family with the help of the interior minister They are fighting for power and we for truth, she added EL AHI’S FAMILY VOWS TO STAND BY KHAN ‘DESPITE FACING WORST TREATMENT’ ISLAMABAD S ta f f R e p o R t Punjab Senior Minister, Marriyum Aurangzeb has said that the provincial government would instigate a network of rehabilitation centers across province to treat and cure ailing wildlife being poached and mutilated for entertainment purposes and enhance public education and awareness on bio-diversity with the technical assistance of Four Paws The senior minister on Monday visited the Margallah Wildlife Rescue Centre erstwhile Islamabad Marghazar Zoo to view the newly rehabilitated black bears being rescued by the Punjab Wildlife Department on the special directives of the Chief Minister Punjab and held a press talk, where she was flanked by Prime Minister s Coordinator for Climate Change, Romina Khurshid Alam Chairperson Islamabad Wildlife Management Board (IWMB), Rina Saeed Khan and team of Four Paws’ experts busy in treating the rescued bears Marriyum Aurangzeb said the Prime Minister and the Chief Minister Punjab have initiated combing operations against poached wild animals, whereas the Punjab Wildlife Department rescued six dancing black bears who were in a pathetic condition There were three raids conducted in a row which resulted into a series of actions being underway to curb the menace of illegal wildlife trafficking and poaching, she added The IWMB has been working on wildlife preservation whereas the Four Paws team had reached on their own expenses from Bulgaria, Austria and Germany to treat the maltreated animals, she said The senior minister said, “It is against CITES (international convention on illegal wildlife trade) and our wildlife laws But it is unfortunate to know that there has been no wildlife rescue center across Punjab to rehabilitate the bears The Bears have a natural habitat of their own that is unique She mentioned that the Punjab Wildlife Department revealed that the bears were made dancing on hot plates whereas the nose pins drilled in their nostrils were pulled to hurt them that made the animal shake showing people like the bear was dancing Marriyum Aurangzeb termed it an insensitive attitude and a punishable offence as per the law She noted that Punjab wildlife rescue centers’ establishment was underway whereas the first has been started from Lahore Safari and the other at the Lahore Zoo area A microchip has been installed for a separate identity of each bear However, a five-hour surgery by Dr Frank was done here with his mobile equipment of Four Paws to do a critical dental surgery of the bear We will collaborate with them to establish a network of rehab centers and education of local masses for awareness across the province, she added Marriyum Aurangzeb regretted that wildlife had never been at the political agenda whereas the current regime had endorsed special focus on the matter “We have started GIS survey of wildlife population and a mobile app will be launched after eid to keep public aware of wild animals, she said P u n j a b g ov t t o i n s t a l l n e t wo r k o
ISLAMABAD S ta f f R e p o R t Pakistan Meteorological Department (PMD) has forecast rain with wind/thunderstorm in various parts of Punjab Khyber Pakhtunkhwa Balochistan Sindh, Kashmir and Gilgit Baltistan from April 10 (Eid-ul-Fitr) till April 15 with occasional gaps A westerly wave is likely to enter upper parts of the country from April 10l followed by another strong westerly wave on April 12 that may grip most parts of the country on April 13 and persist till April 15 In Khyber Pakhtunkhwa, rain-windstorm/thunderstorm is expected in Chitral, Dir Swat Abbottabad Mansehra Haripur Kohistan Shangla Buner and Malakand from April 10-15 with occasional gaps while in Waziristan Kohat Lakki Marwat Bannu, Dera Ismail Khan, Bajaur, Mohmand, Karak, Khyber, Peshawar, Charsadda Nowshera Swabi Mardan and Kurram with occasional gaps from April 12-15 Isolated heavy fall and hailstorm is also expected from April 13-15 In Gilgit-Baltistan/Kashmir, rainwind/thunderstorm with snowfall over high mountains is expected in GilgitBaltistan including Diamir Astore Ghizer Skardu Hunza Gilgit Ghanche Shigar and in Kashmir including Neelum valley
Muzaffarabad, Rawalakot,
rainwind/thunderstorm is expected in Murree, Galliyat, Islamabad/Rawalpindi, Attock, Chakwal on April 10 and then April12 (evening/night) to April 15 with occasional gaps while Jhelum Mandi Bahauddin Gujrat
Pakpattan, Sahiwal, Kot Addu, Muzaffargarh, Rahim Yar Khan, Sadiqabad, Khanpur, Bahawalpur and Bahawalnagar with occasional gaps from April 12 (evening/night) to April 15 Isolated windstorm/hailstorm is also expected from April 13-15 In Balochistan rain-wind/thunderstorm with isolated heavy falls is expected in Zhob, Sherani, Barkhan, Musakhel, Kohlu, Sibbi, Jhal Magsi, Loralai Ziarat Quetta Chaman Pishin Qila Abdullah Qila Saifullah Kalat Lasbella Khuzdar Chagi Panjgur Gawadar and Kech from April 12-14 In Sindh, rain-wind/thunderstorm is expected in Sukkur, Jacobabad, Kashmore, Larkana, Dadu, Qambar Shahdad Kot Jamshoro and Sanghar on April 13 and 14 However isolated rainwind/thunderstorm is also expected in Karachi Hyderabad during the period About the possible impacts the PMD said that heavy rainfall may generate flash flooding in local nullahs/Streams of Dir, Swat, Chitral, Kohistan, Manshera, Tributaries of Kabul River, Gilgit-Baltistan and Kashmir from April 13-15 The possibility of landslides in Upper Khyber Pakhtunkhwa Murree Galiyat Kashmir and Gilgit Baltistan and may affect the vulnerable locations from April 13-15 Windstorm/hailstorm and lightning may damage standing crops, loose structures like electric poles, vehicles and solar panels etc during the period The farmers especially in wheat harvested areas are advised to manage their crops according to the weather conditions The tourists have been advised to avoid unnecessary traveling during the wet period The temperatures are likely to drop during the wet spell All concerned authorities are advised to remain alert and take necessary measures to avoid any untoward situation during the forecast period Rain likel y to bring temperature down on Eid Prime Minister Shehbaz Sharif per forms Umrah MAKKAH S ta f f R e p o R t Prime Minister Shehbaz Sharif has performed Umrah during his visit to Saudi Arabia According to the details Punjab Chief Minister Maryam Nawaz, Finance Minister Muhammad Aurangzeb, Foreign Minister Ishaq Dar, Information and Broadcasting Minister Attaullah Tarar, Defence Minister Khawaja Asif and other members also performed Umrah along with prime minister After performing Umrah Prime Minister Mian Shahbaz Sharif and the delegation offered special prayers for the security, development and prosperity of Pakistan and the Islamic world Prime Minister Shehbaz Sharif offered Isha prayer in the Grand Mosque and also participated in the Khatm-e-Quran ceremony On Sunday, Prime Minister Shehbaz Sharif visited Roza-e-Rasool (SAW) offered Isha Prayer and Nawafl prayers Meanwhile the prime minister prayed for the development and prosperity of the Muslim Ummah and the oppressed Muslims of Palestine and Occupied Kashmir Significant actions taken to address Punjab Matric and Intermediate exam cheating scandal ISLAMABAD S ta f f R e p o R t A special session of the Punjab Boards Committee of Chairpersons (PBCC) convened to assess examination processes across the province and enact crucial measures to combat cheating activities in the education sector Comprising the chairpersons from all nine Punjab boards the gathering reached a consensus on implementing a uniform policy to uphold exam transparency The meeting jointly presided over by the Secretary of Higher Education and the PBCC Chairman in the provincial capital, addressed concerns stemming from the recent uncovering of malpractices during the 2024 Matric (Class-9) Annual Examinations Surprise inspections conducted by Punjab’s School Education Minister Rana Sikandar Hayat and BISE Lahore Chairman Muhammad Ali Randhawa revealed instances of unauthorized personnel overseeing exams at certain centers Furthermore, widespread cheating was reported across various examination sites within BISE Lahore’s jurisdiction KARACHI S ta f f R e p o R t The Human Rights Commission of Pakistan (HRCP) on Monday noted with concern that the state of law and order in Karachi had deteriorated alarmingly Karachi has been facing an increase in street crime in recent months Data presented before a high-level security meeting last week showed more than 250 Karachiites were shot dead and 1 052 others were wounded by street criminals between 2022 and March 28 2024 Police sources said that a significant increase in violent street crimes was registered over the past three years On Saturday Sindh High Court Chief Justice Aqeel Ahmed Abbasi ordered law enforcement agencies to launch a crackdown on criminals their handlers and facilitators to curb street crime in Karachi and improve security situation in other parts of the province, particularly the riverine area Rising street crimes in the capital of Sindh also brought face-toface allies in the Centre on Sunday w h e n M Q M - P c e n s u r e d t h e P P Pled provincial government and dem a n d e d p o l i c i n g p o w e r s f o r Rangers across Sindh At a press conference, the MQM-P leaders presented a “charge sheet” against the PPP government and Sindh police blaming them for their failure and incompetence They also demanded the federal government intervene in the larger interest of Karachi and its people ” E a r l i e r, t h e p a r t y h a d a l s o d emanded an operation against street c r i m i n a l s o t h e r w i s e i t h i n t e d a t parting ways with the PML-N-led coalition government if the killing of innocent people was not stopped In a post on social media platform X today, the HRCP said: Tens of thousands of street crimes were registered by the police in 2023 in which over a hundred people lost their lives The first quarter of 2024 has followed the same pattern The HRCP pointed out that that retaliatory vigilantism and increased brutality by citizens in response to the crime wave was “not the answer adding that the government s failure to address rising crime levels was shocking The underlying factors such as economic desperation and unemployment need to be addressed urgently as well ” it stressed HRCP concerned over ‘alarming deterioration’ in law and order in Karachi
Gujranwala Hafizabad Sialkot Narowal Lahore Kasur Okara Faisalabad Toba Tek Singh Jhang Khushab Sargodha Mianwali Dera Ghazi Khan Rajanpur Bhakkar Layyah, Multan,
Urban sprawl in Islamabad Quetta Faisalabad and Rawalpindi is a concerning issue with Peshawar Gujranwala Hyderabad and Sukkur being the worst examples While Multan has made some progress in infrastructure development, the country faces a small business sector, high job scarcity, and limited economic opportunities Urbanization has both positive and negative aspects but if not addressed it can lead to dangerous consequences that outweigh its positive aspects
Pakistan is on the brink of a major demographic transition, with Lahore s population expected to rise by 17 18 million by 2035, and Karachi s to reach 23 17 million by 20 31 million Urban development has shifted from public land to privileged classes, making land an important means for earning money This unjustified process has created inequalities in urban centers and low-income communities are not playing a significant role in determining the fate of urban cities
The shift from rural to urban areas in Pakistan is closely linked to the economy Agriculture, which accounted for half of the country’s GDP in 1949-50, decreased to 24% of GDP in 2020-21 The manufacturing sector increased to 29% while the services sector reached 55% The agriculture sector which accounted for 65% of the labour force declined to 38% in 2020
The rise in urban populations has increased the demand for employment in urban areas Major cities in Pakistan face a housing deficit of 5 million units, with nearly 50% of urbanites living in slums Infrastructure deficit is a major indicator of urban decay Pakistan ranks 69th out of 125 countries in basic infrastructure causing economic constraints and reduced growth potential The World Bank s 2016 report suggested increasing infrastructure development investment from 3% to 10% of GDP through policy interventions and improved regulations Pakistan needs an urban development policy addressing infrastructure improvised basic facilities and communitybased services to attract private sector and foreign
investors Addressing the chronic imbalance between demand and supply of infrastructure facilities is crucial for Pakistan s economic growth Urban decay in Pakistan is characterized by low employment rates, unstable economic growth, incapable entrepreneurship, and weakening civilian institutions The fastest growth rate is among the 15-25-year-olds and while urban areas have a high education ratio finding employment is challenging This lack of employment leads to emotional distress, disappointment, and street violence, contributing to unemployment and lack of opportunities for youth The country also faces challenges in embracing diversity in views and virtues for the future Conservatives advocate for economic growth without considering cultural evolution while pragmatists
In Karachi, there are 500 informal settlements, while in Lahore more than 300 Islamabad has been spared this agony due to the main guiding instrument of a 60year-old master plan with few deviations Lahore has seen growth due to personal interest from successive Chief Ministers over the last 15 years, while Sialkot has seen local citizens and businesses create infrastructure without government involvement Karachi, which had its own City District Government structure between 2002-2008 experienced better governance but has since suffered from neglect due to the abolishment of the City District Government and Town Councils Land water transport mafias, and criminal gangs have become dominant, leading to a highly polarized, deeply contested, and unliveable metropolis
P a k i s t a n ’ s D e b t D i l e m m a : N a v i g a t i n g T u r b u l e n t W a t e r s
been allocated to
projects, with an additional $11 billion earmarked for infrastructure and transportation development Yet, questions arise regarding the alignment of these investments with broader developmental priorities such as education, healthcare, and agriculture, pivotal for sustainable long-term growth and human development Furthermore the influx of Chinese workers and technical expertise associated with CPEC projects prompts discussions about local employment and skills transfer Official estimates suggest that over 75,000 Chinese workers have participated in various CPEC ventures, sparking concerns about limited opportunities for local Pakistani laborers The absence of robust mechanisms for skills transfer and training intensifies worries about the longterm implications for Pakistan s labor market and human capital development
S t a t i s t i c s u n d e rs c o r e a
n o t a b l e c o n c e n t r a t i o n o f
C P E C i nv e s t m e n t s i n s e c t o rs l i k e e n e rg y a n d t r a n s p o r t a t i o n F o r i n s t a n c e , a p p rox i m a t e ly $ 3 3 b i l l i o n h a s b e e n a l l o c a t e d t o e n e rg y p ro j e c t s , w i t h a n a d d i t i o n a l
1 1 b i l l i o n e a r m a r k e d fo r i n f r a s t r u c t u r e a n d t r a n s p o r t a t i o n d ev e l o p m e n t
A recent study by a US-based research center underscores the prevalence of loans in Chinese development financing in Pakistan, accentuating Islamabad’s vulnerability to global market fluctuations and reinforcing its dependence on Chinese goodwill Pakistan s fiscal challenges stem from a myriad of systemic issues, chief among them being an inadequate tax base that undermines revenue generation The tax-to-GDP ratio, hovering around 11% falls significantly below regional averages reflecting the country’s struggle to mobilize sufficient resources for its fiscal needs According to data from Pakistan s Federal Board of Revenue (FBR), the tax-toGDP ratio has remained relatively stagnant over the past few years, indicating persistent challenges in tax collection and compliance Widespread tax evasion compounds the issue with estimates suggesting that only 1 3% or a fraction of eligible taxpayers contribute to the national exchequer exacerbating revenue constraints and hindering the government s ability to fulfill financial obligations effectively
revenue generation, improving governance, and promoting fiscal discipline Strengthening tax administration and enforcement mechanisms, broadening the tax base and reducing exemptions and loopholes are critical steps toward bolstering Pakistan s fiscal resilience Additionally restructuring underperforming SOEs enhancing transparency, and fostering a conducive environment for private sector participation can alleviate the burden on the government while stimulating sustainable economic growth In the timeless words of Shakespeare’s Hamlet This above all: to thine own self be true Pakistan s journey towards economic success demands unwavering resolve and prudent decision-making As
Moreover, inefficiencies within state-owned enterprises (SOEs) amplify Pakistan’s debt burden posing significant challenges to fiscal stability Reports indicate that these entities collectively incur losses amounting to billions of dollars annually For instance, data from the Ministry of Finance reveals that the cumulative losses incurred by SOEs reached Rs713 billion, including Rs263 billion in debt in the fiscal year 2022-2023 alone These losses, attributed to corruption, mismanagement, and political interference, not only drain government resources through subsidies and bailouts but also stifle private sector growth and competition further straining Pakistan s fiscal position The substantial financial burden imposed by SOEs underscores the urgent need for comprehensive reforms aimed at enhancing transparency, accountability, and operational efficiency to alleviate the burden on the government and foster sustainable economic growth Drawing parallels with countries like Spain and Argentina Pakistan can glean valuable
04 Tuesday 9 Apri 2024 COMMENT S a u d i i n v e s t m e n t n e e d s t o b e l o o k e d a f t e r c a r e f u l l y G O O D news was in the offing on the Prime Minister ’s recent visit to the Kingdom of Saudi Arabia Mr Shehbaz Sharif was on a personal visit to the Gulf country as he was performing the Umrah pilgrimage in the month of Ramzan But the spiritual visit turned into a working on when the PM still clad in his ihram met with Saudi Crown Prince Muhammad bin Salman During the meeting, the two leaders agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan While such statements are quite run of the mill normally, with the government regularly promising such investment is coming any time, what makes this different is that the two countries issued a joint statement on the issue A joint statement from both countries is an important indication that Saudi Arabia is serious about the proposed investment In January last year the crown prince had directed the Saudi Development Fund (SDF) to study increasing the deposit amount in the State of Bank of Pakistan (SBP) to $5bn Later on there was also news that the Saudis were planning on investing a mammoth $25 billion in Pakistan in different projects Many thought that the Saudis were going to be using the Special Investment Facilitation Council (SIFC) as its avenue of this investment As per the initial moves of the SIFC the investment was expected to come towards either the agricultural sector or towards mining and natural resources in Pakistan Corporate farming and mining particularly in newly discovered regions, have been a focal point of the council s methodology One must consider this a success In the past few years it had seemed that even friendly countries like Saudi Arabia were losing patience in investing in Pakistan The joint statement and the nod from the Crown Prince indicates that the SIFC might have restored some of this confidence since the council is supposed to guarantee stable policies and a stable platform in the absence of political stability For now, the news of KSA putting money up to bolster Pakistan’s reserves is good It means that in addition to the IMF’s money, this will give Pakistan coverage for some time In this time, however, the government must not get lax at all and instead focus on fostering this investment and fixing the economy’s systemic issues M A Niazi Editor Pakistan Today Babar Nizami Editor Profit Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late) Founding Editor Painful journey T H E remote areas of Balochistan lack basic facilities Kharan for example does not even have a hospital Recently I travelled to Karachi from Kharan for my kidney treatment My journey was extremely painful The bus was full of people mostly patients and there were several potholes on the way Unfortunately, the patients of Kharan have to bear these problems and expenses due to inadequate healthcare services in their own province Even Quetta, the provincial capital, lacks good doctors and proper health facilities The authorities must provide the masses with necessary facilities in their own districts to ease their financial woes ABDUL QAYYUM KHARAN Peace restoration K A S H M O R E , Ghotki, Jacobabad, Sukkur, Shikarpur and many other districts in Sindh have been under the grip of dacoits, muggers and outlaws The law-enforcement agencies have tried to control the situation by transferring and posting various officials in such districts but have failed to maintain peace Pakistan s security forces must intervene and carry out urgent retaliatory actions and military operations in the affected areas MAZHAR ALI GHOTKI Another programme T H E government has hinted at a new Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF), and has been talking about increasing the annual tax revenue by over 50 per cent in the coming years Every target is achievable for the country if attempted with honesty professionalism and dedication But the government itself must adopt simplicity and take austerity measures first MUMRAIZ KHAN KARACHI Police failure T H E police force in Karachi has failed to do the basic job of keeping citizens safe This year alone 44 lives have been lost to street crimes Last year 90 000 cases of street crimes were reported; 246 cases per day The rich have private security guards while the powerful have police guards It is the common man who has been left at the mercy of outlaws The present wave of street crimes in Karachi is a manifestation of years of neglect SAAD ALI KARACHI Exploitation of commuters D U R I N G my recent trip to Hyderabad I observed the exploitation by shops at bus stands These shops unabashedly overcharge commuters for essential items This exploitation highlights the broader problem of inadequate facilities and services for commuters in the city Some transportation services also impose exorbitant fares Basic facilities should be provided to the commuters FAROOQUE KHOSO JOHI 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 I N the intricate fabric of Pakistan s economic landscape a daunting debt crisis casts a long shadow threatening the nation s quest for stability and prosperity Recent revelations from key economic institutions, notably the State Bank of Pakistan lay bare a disconcerting reality: Pakistan’s external debt has surged to a staggering $125 7 billion placing immense strain on its fiscal health Central to Pakistan s economic challenges lies its complex relationship with China and the China-Pakistan Economic Corridor (CPEC) Launched in 2013, CPEC stands as a monumental endeavor aimed at fortifying infrastructure and fostering economic growth With over $60 billion invested primarily by China it emerges as one of Pakistan s largest infrastructure projects However, the financing structure, heavily reliant on loans from China, poses significant challenges to fiscal sustainability The terms of Chinese loans often characterized by high interest rates and short repayment periods compound Pakistan s debt burden and raise concerns about its long-term economic resilience Analysts predict that Pakistan s debt servicing obligations to China alone could surpass $10 billion annually in the foreseeable future, exacerbating fiscal pressures Statistics
notable
CPEC
sectors
energy
billion
underscore a
concentration of
investments in
like
and transportation For instance approximately $33
has
energy
insights from their experiences in managing debt crises Spain s implementation of rigorous austerity measures and Argentina’s successful debt restructuring efforts offer instructive lessons in navigating fiscal challenges through prudent policies and international cooperation Addressing these internal challenges demands comprehensive economic reforms aimed at enhancing
the nation navigates its debt crisis, drawing upon the lessons of history and embracing bold reforms can chart a course toward sustainable growth and resilience The author an A-Level student at Aitchison College in Lahore involved in the Economics Society is deeply interested in advocating for increased awareness about Pakistan s deteriorating economy
Mian MuhaMMaD KhaliD rehMan
P A K I S TA N is one of the fastest urbanising countries in South Asia and the share of urban population has risen from 17 percent in 1951 to 37 percent in 2010, and to 41 7 percent in 2021 with annual rate of urban change at 2 79 percent Projections show that in the next 5 years half of the population will be living in urban areas Population growth and net migration are the major forces behind urban growth About one-fifth of the annual rise in urban population can be attributed to net migration Large cities with a population of one million and above had a share in the total population of 50 percent in 1998 which by now have risen to at least 66 percent or more Urban areas contribute 80 percent of GDP almost all the country’s tax revenues and account for 60 percent of the employed labour force Urban poverty rate is almost one half of that of the rural poverty rate Per capita income levels and growth rates have also been relatively higher in the urban areas Literacy and Enrolment ratios for both males and females are also better Pakistan’s public policy towards urbanization is characterized by sporadic spurts of enlightened political leaders lacking foundational stability or consistent planning and execution Large urban conglomerates in Pakistan have a poor picture, with
35 and 50% of the urban population living
Katchi
$
between
in
Abadis
view cultural evolution as a natural outcome of urbanization This lack of tolerance towards divergent views hinders growth and development in urban Pakistan The Planning Commission of Pakistan has proposed a new economic growth paradigm urging the country to take ownership of urbanisation The commission suggests revising city zoning laws to allow for more high-rises and mixed-use buildings generating more housing units, opening up space for schools, shops, and markets, and increasing service supply and commercial activity However, creating an appropriate urban policy requires creativity and judiciousness as it must balance industrial growth with the basic needs of city populations Addressing this demographic transition is crucial to prevent overflowing cities with homeless and unemployed residents The writer is Ph D in Political Science and visiting faculty at QAU Islamabad His area of specialization is political development and social change He can be reached at zafarkhansafdar@yahoo com and tweet@zafarkhansafdar C a u s e s a n d c o n s e q u e n c e s o f u r b a n i z a t i o n i n P a k i s t a n Dr Zafar Khan SafDar 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
