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K I S TA N I P O L I T I C I A N S N A M E D I N D ATA D E F E N D O W N E R S H I P

ISLAMABAD

D C , that re-

Prominent names include PPP Chairman Bilawal Bhutto Zardari his siblings Bakhtawar Bhutto Zardari and Aseefa Bhutto Zardari; wife of Interior Minister Mohsin Naqvi Ms Ashraf; Sindh Information Minister Sharjeel Memon; MNA Ikhtiar Baig; son of

PML-N President Nawaz Sharif, Hussain Nawaz; son of General (retd) Qamar Javed Bajwa Saad Siddique Bajwa; Senator Faisal Vawda Sardar Sanaullah Zehri, Akhtar Mengal and PML-N MNA Ehsanul Haq Bajwa

The PPP said there was “nothing new or illegal” in the information since its chairman’s assets were already publicly declared a sentiment echoed by other politicians as well

In a response issued an hour after the information was made public Bilawal’s spokesperson Zulfikar Ali Bader said that the former foreign minister and Aseefa had already declared all their domestic and foreign property with the Election Commission of Pakistan and Federal Board of Revenue He added that the information was available on the ECP website as well There is nothing new or illegal in

this story Apparently, this is neither news nor a scandal as the information is already in the public domain,” Bader said He said it was public information that the two siblings had grown up in exile and lived in the same property mentioned in the report with their mother former prime minister Benazir Bhutto, going on to inherit it after her assassination “Any action or insinuation based on defamation will be challenged in

prime minister and the members of the cabinet also offered Fateha for the departed souls

He emphasized that maintaining law and order in the country was top priority of the government so that it could move on venue of development and prosperity Azad Jammu and Kashmir is a jugular vein of Pakistan as declared by Quaid-e-Azam Muhammad Ali Jinnah,”

he added PM Shehbaz further said that he held meetings on the AJK issue and thanked President Asif Ali Zardari political leaders of the allied parties, leaders of AJK chapter, AJK leadership and parliamentarians for their support and deliberations

g Reiterates desire to work with all political forces to steer the countr y out of problems

leading to decisions over the demands of protestors With consensus, the demands and

nounced Rs23 billion package for the people of AJK

The prime minister said that he had talked to AJK PM over the regrettable incident and stressed that voices of the public representatives should be heard and issues be resolved through dialogue

He also appreciated the AJK government that acted with much restraint as few elements were out to create chaos

To work with all political forces in national interest’ Meanwhile, Prime Minister Shehbaz Sharif reiterated his desire to work with

all the political forces to steer the country out of the confronting problems and put its economy on upward trajectory He said “Welfare of the people of Balochistan has been among the top priorities of the government These views were expressed by him during his meeting Jamiat Ulema-eIslam-Fazl (JUI-F) leader Maulana Abdul Ghaffoor Haideri who called on him here Members of the National Assembly Usman Badini and Noor Aalam Khan were also present during the meeting said a press release issued by PM Office Media Wing During the meeting, overall situation in the country including political was discussed They also exchanged views on dif-

ferent development projects in Balochistan province Premier Shehbaz Sharif said that they would provide equal educational and jobs opportunities to the youth of Balochistan National security issues not to be compromised: Atta Tarar Federal Minister for Information and Broadcasting Attaullah Tarar has said that there will be no compromise on national security issues that needed to be discussed at appropriate forums through proper procedure

Addressing a news conference along with Minister for Law and Justice Senator Azam Nazeer Tarar here on Tuesday he said the Attorney General of Pakistan was the representative of State and his request for in-camera briefing on a specific national security issue had been taken out of context

Attaullah Tarar pointed out the Attorney General had made the request just for the sake of national security He underlined the need of fully understanding the sensitivity of national interest adding that the Attorney General had already clarified his position on the issue The information minister said the national security issues should be discussed at the appropriate forums If a matter needs discussion, the chief justice has the authority to call a fullcourt ” he added

Atta Tarar expressed the optimism that the institutions would collectively work for the national interests of the country

the amendments’ validity The Khyber Pakhtunkhwa advocate general supported the Supreme Court s stance against the NAB amendments while the attorney general defended the amendments on behalf of the federal government Justice Minallah questioned the federal government s right to appeal, stating that only a directly impacted party has standing to challenge a verdict “This appeal does not meet the criteria set by the Benazir case ” noted the judge Additionally with the CJP emphasizing the need for justification behind any ordinance Justice Mandokhail pointed out the federal government must also rationalize the necessity of such ordinances Highlighting the misuse of NAB for “political engineering,” Justice Minallah urged the agency to disclose the number of politicians targeted and incarcerated over the past decade He also instructed the attorney general to ensure the video-link facility was functioning correctly The hearing was then adjourned until May 16 The NAB amendments not only shortened the tenure of the NAB chairman and the bureau’s prosecutor general from four to three years but also removed all regulatory authorities from under NAB’s oversight Additionally the changes mandated a three-year term for accountability court judges and required these courts to conclude cases within a year Challenging these amendments as unconstitutional, Khan approached the apex court, advocating for their annulment based on their inconsistency with several constitutional articles and fundamental rights On July 15 2022 a special three-member bench was constituted to address Khan s petition

“It was requested to hear surveillance-related matters in-camera to ensure the matter does not go into the public domain to protect the capabilities of our security and intelligence agencies, the AGP maintained, adding that this was communicated to the relevant quarters

“Neither the government or any state institution can meddle in the affairs of the judiciary and I strongly deny any such impression According to my information, no officer of any security establishment has contacted

Khan Justice Arbab Muhammad Tahir and Justice Saman Rafat Imtiaz penned a letter to the SJC led by Chief Justice Qazi Faez Isa expressing concerns about the “interference” of intelligence agencies in the affairs of the courts We therefore request that

In par tnership with Profit We d n e s d a y, 1 5 M a y, 2 0 2 4 I 6 Z i l - Q a d a h , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 3 1 5 I 8 Pa g e s I I s l a m a b a d E d i t i o n ‘ D U B A I P R O P E R T Y L E A K S ’
M o N to R i N g R e p o R t I N the wake of an astounding volume of leaked data regarding properties owned by foreigners in Dubai, some of the Pakistani politicians named in it on Tuesday night downplayed the development claiming that there was nothing wrong with the practice and that properties under their name were already declared The released data provides a detailed overview of hundreds of thousands of properties in Dubai and information about their ownership or usage largely from 2020 and 2022 It was obtained by the Center
Advanced Defence Stud-
organisation
searches international crime
conflict
for
ies (C4ADS) a non-profit
based in Washington,
and
the relevant forums Bader warned It is to be noted that the data reveals that Pakistani nationals own property worth approximately $11 billion in Dubai This analysis is part of the OCCRP’s ‘Property Leaks’ story but does not specifically concentrate on Pakistanis who hold less than 2 5% of the total $389 billion in property value A global investigative journalism initiative has disclosed details of property ownership in Dubai involving global elites, including politicians, sanctioned individuals and those accused of money laundering and criminal activities
ISLAMABAD s ta f f R e p o R t Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed deep grief and sorrow over the loss of precious lives during the violent protests in Azad Jammu and Kashmir (AJK), announcing he would visit Muzaffarabad within the next few days to hold further consultations over the issue
addressing the participants of the federal cabinet meeting the prime minister said that it was a matter of immense pain that few people lost their lives during the protest, besides damage caused to buildings “It was a very unfortunate incident,” PM Shehbaz Sharif said adding that a police officer also lost his life besides several personnel of the law enforcement agencies were also injured The
PA
While
e q u i r e m e n t s o f t h e p r o t e s t o r s w e r e m e t a n d t h e f e d e r a l g o v e r n m e n t a n -
r
ISLAMABAD
ta f f R e p o R t In what is being described as a rare press talk, Attorney General for Pakistan (AGP) Mansoor Usman Awan on Tuesday refuted allegations that the government or any other state institution interfering in judicial affairs asserting the office of the AGP and the AAG acts as a bridge to facilitate communication The developments comes shortly after the IHC began hearing two contempt pleas pertaining to the character assassination of IHC’s Justice Mohsin Akhtar Kayani on social media and the leaking of Justice Babar Sattar s personal details AGP Awan maintained that it is necessary to issue clarification as the matter of the IHC judges’ letter was being presented in a manner that implies a growing conflict between the executive and the
s
judiciary
or can contact [any member of the judiciary] And the contact that was made was done through the AGP’s office to ensure sensitive information was not made public Earlier in March, six judges of the Islamabad High Court (IHC) reached out to the Supreme Judicial Council (SJC) seeking clarity on the alleged intrusion of executive members, including intelligence operatives, in the judicial matters Six judges of the IHC Justice Mohsin Akhtar Kiyani Justice Tariq Mehmood Jahangiri Justice Babar Sattar Justice Sardar Ejaz Ishaq
a judicial convention be called to consider the matter of interference of intelligence operatives with judicial functions and/or intimidation of judges in a manner that undermines the independence of the judiciary In their letter the judges emphasised the necessity of investigating whether there exists an ongoing policy within the executive branch aimed at interfering with judicial affairs ISLAMABAD s ta f f R e p o R t As the Islamabad High Court (IHC) initiated contempt proceedings on a smear social media campaign against senior judges Justice Mohsin Akhtar Kayani remarked on Tuesday either the state institutions might have leaked confidential data or their system was hacked A n I H C l a rg e r b e n c h – l e d b y J u s t i c e K a y a n i a n d c o m p r i s i n g J u s t i c e Ta r i q Mehmood Jahangiri and Justice Sardar Ejaz Ishaq Khan commenced contempt of court proceedings on smear social campaign media against Justice Babar Sattar The high court had formed two separate benches on the issue on May 8 after Justice Sattar and Justice Kayani wrote to IHC Chief Justice Aamer Farooq seeking contempt proceedings against those involved in leaking personal details and running malicious campaign on social media Addressing the state counsel Justice Kayani remarked that they were going to initiate a contempt of court proceeding in the case He added that some X (formerly Twitter) accounts and a few hashtags were also part of the case which were used to upload data and run a smear drive This is all being done to mount pressure on a judge [Justice Sattar] who is hearing a case, remarked Justice Kayani He added that it was a dangerous matter that confidential data of the jurist, his family and his children were made public information which cannot be attained by anyone else T h e h e a d o f t h e l a rg e r b e n c h f u r t h e r r em a r k e d t h a t s t a t e i n s t i t u t i o n s m i g h t h a v e b e e n i n v o l v e d i n l e a k i n g t h e c o n f i d e n t i a l d a t a , o r t h e i r s y s t e m w a s h a c k e d T h e r e w a s n o r o c k e t s c i e n c e t o a s c e r t a i n t h e s o u r c e o f d a t a l e a k h e a d d e d State institutions might have leaked judges’ confidential data, says Justice Kayani Grieving over loss of lives, PM Shehbaz announces visit to AJK C O N T I N U E D O N PA G E 03 AGP denies allegations of any inter ference in judiciar y Imran Khan to appear over video-link on May 16 ISLAMABAD N e w s D e s k The Supreme Court of Pakistan on Tuesday mandated that the federal and Punjab governments provide a video-link setup for imprisoned PTI founder Imran Khan enabling him to participate and present his case in the National Accountability Bureau (NAB) amendment lawsuit The PTI founder is allowed to present his case through video link at the next hearing if he chooses to ” declared Chief Justice of Pakistan (CJP) Qazi Faez Isa emphasizing the need for video link facilities This directive was issued during the session on the federal government s intra-court appeal against the Supreme Court s 2023 decision, which invalidated several NAB amendments Khan expressed his intention to personally argue his case Presiding over the proceedings the five-member larger bench led by CJP Isa includes Justice Amin-ud-Din Khan Justice Jamal Khan Mandokhail Justice Athar Minallah and Justice Hasan Azhar Rizvi This hearing follows a September 2023 decision by a three-member Supreme Court bench that upheld Khan s challenge to amendments in the accountability laws introduced under the previous Pakistan Democratic Movement (PDM)-led administration Chaired by then-Chief Justice Umar Ata Bandial alongside Justice Mansoor Ali Shah and Justice Ijazul Ahsan the bench conducted over 50 hearings ultimately delivering a majority 2-1 verdict that reinstated corruption cases against officials previously absolved due to these amendments The court’s ruling reinstated all corruption cases involving sums under Rs500 million against various political figures and officials rendering the amendments null and void This ruling is significant as it reopens corruption cases against notable political figures including the Toshakhana case against PML-N leader Nawaz Sharif, PPP Co-Chairman Asif Ali Zardari, and former PMs Yousuf Raza Gilani, Shahid Khaqan Abbasi, and Raja Pervez Ashraf In response the federal government lodged an appeal under Section 5 of the SC law against this judgment The last session for this case was held on October 31, with the case being adjourned indefinitely until today s hearing As the hearing began, the CJP limited the discussion strictly to legal arguments concerning
with the first hearing following shortly after instigated by an application from Khan s attorney Khawaja Haris The petition named both the federation and NAB as respondents g Te r m s l a w a n d o r d e r t o p p r i o r i t y t o m o v e o n v e n u e o f d e v e l o p m e n t a n d p r o s p e r i t y
g O f f i c e o f A G P a n d A A G a c t s a s ‘ b r i d g e ’ t o f a c i l i t a t e c o m m u n i c a t i o n , A w a n s a y s i n a r a r e m e d i a b r i e f i n g g D a t a r e v e a l s Pa k i s t a n i n a t i o n a l s o w n p r o p e r t y w o r t h a p p r o x i m a t e l y $ 1 1 b i l l i o n i n D u b a i g B i l a w a l , I n t e r i o r M i n i s t e r a n d P T I ’ s M a r w a t a s s e r t t h e i r p r o p e r t i e s i d e n t i f i e d i n d a t a a l r e a d y d e c l a r e d C O N T I N U E D O N PA G E 03

PM ANNOUNCES PRIVATISATION OF ALL STATE

OWNED ENTERPRISES EXCEPT STRATEGIC ONES

Foreign investment peaks at 30-month

LAHORE S ta f f R e p o R t

According to the State of Pakistan’s Economy Report released by the State Bank of Pakistan (SBP) for the first half of FY24 on Tuesday Pakistan s economic conditions have shown signs of improvement

The report, based on data from July to December FY24, indicates that the real economy has started to recover following a contraction last year This recovery has been supported by the Stand-By Arrangement (SBA) with the IMF, which helped to alleviate stress on the external account

The report notes that the current account deficit has significantly narrowed due to ongoing contractionary monetary and fiscal policies better agricultural output and a decrease in global commodity prices

On the fiscal side, a higher surplus was achieved compared to the same period last year, driven by strong growth in tax and non-tax revenues that surpassed the rise in non-interest expenditures However despite limited domestic demand inflationary pressures remained high The agricultural sector, which grew by 1 7 percent, has spurred not only its own recovery but also supported some

agro-based industries The easing of import restrictions improved the availability of raw materials for industrial use

The IMF s SBA approval played a crucial role in easing external borrowing constraints, leading to increased financial inflows and a significant reduction in the current account deficit due to a combination of decreased imports and increased exports

same prominence as the original defamatory statement Additionally, the defendant

tainties also contribute to inconsistency in economic policies impacting investment and economic growth

The special chapter in the report discusses long-term inflation trends and their determinants, emphasizing the need for policy reforms to achieve sustainable development and more stable inflation rates in the medium term

The SBP projects a continuation of the modest economic recovery in the second half of FY24 with real GDP growth expected to be between 2 and 3 percent, and NCPI inflation forecasted to fall to a 5-7 percent range by September 2025 Ec o n o my s h ow s s i g n s o f r e c ove r y i n H 1 F Y 2 4 , S B P r e p o r t i n d i c at e s g Co u n t ry '

However challenges persist The report highlights structural issues such as limited savings, low investments, weak productivity, and a narrow tax base, which continue to hamper economic development Political uncer-

would be required to compensate for damages as specified by the legislation Furthermore the bill allows for the tribunal upon establishing a case of defamation to order the relevant regulatory body not only to enact the decreed damages or demand an apology but also to suspend or block any social media accounts of the defendant or any platforms or mediums used to spread the defamatory content as covered under this Act The proposal includes provisions for the government to establish multiple tribunals as deemed necessary to handle such cases, appoint members to each, and define

Center in the district if both parties agree The tribunal is also empowered to assign actual litigation costs, including attorneys’ fees, legal expenses costs related to witnesses and other litigation expenses based on sufficient and justifiable grounds In cases of defamation involving sensitive issues related to

a request for

ceedings

W d d y 15 M y 2024 | ISLAMABAD 02 NEWS ISLAMABAD a p p P R I M E M I N I S T E R Shehbaz Sharif on Tuesday announced that the government would privatise all state-owned enterprises (SOEs), excluding the strategic ones regardless of their profitability or financial losses The prime minister, chairing a highlevel meeting to review the matters related to the Ministry of Privatisation and Privatisation Commission directed all the federal ministries to carry out the necessary procedures and extend their cooperation with the Privatisation Commission for the purpose In the meeting, the Privatisation Ministry and the Privatisation Commission presented a roadmap for the Privatisation Programme 2024-29 The prime minister said the government had nothing to do with running the businesses but was mandated to facilitate the investors He was of the view that the privatisation of SOEs would save the taxpayers money to help the government provide quality services to the people Reiterating the government s commitment to a transparent process, the prime minister directed to live telecast the bidding process and other procedures of the privatisation of Pakistan International Airlines and other entities During the briefing on the progress in the SOEs privatisation, the participants were told that the pre-qualification process for PIA privatisation would be completed by the end of this month The consultation for privatisation of Roosevelt Hotel was underway and the government-to-government transaction of the First Women Bank was in process with the United Arab Emirates It was told that the power distribution c o m p a n i e s h a d b e e n i n c l u d e d i n t h e 2 0 2 4 - 2 9 P r i v a t i s a t i o n P r o g r a m a n d t h e privatisation of loss-making SOEs would b e p r i o r i t i s e d The participants were told that a prequalified panel of experts would be appointed at the Planning Commission for a swift and transparent privatisation process Federal ministers Khawaja Asif Muhammad Aurangzeb Jam Kamal Khan Awais Ahmed Leghari, Abdul Aleem Khan, Dr Musaddik Malik and Ahad Khan Cheema, PM’s Coordinator Rana Ehsan Afzal, and relevant senior officers attended the meeting
SECP issues manual for complying with regulatory framework for Modarabas guide consolidates all repor ting obligations and summarises required approvals under modaraba law ISLAMABAD S ta f f R e p o R t The Securities and Exchange Commission of Pakistan (SECP) has released a comprehensive guide to facilitate Modaraba Companies and Modarabas in complying with requirements of the Modaraba Ordinance 1980 Modaraba Rules 1981 Modaraba Regulations 2021, and related directions and circulars The guide consolidates all reporting obligations and summarises required approvals under the Modaraba Law in order to assist the industry in achieving effective compliance Furthermore it emphasizes critical provisions of Modaraba Law and refers to common violations, urging stakeholders to be aware of potential pitfalls However, the guide does not cover the legal and regulatory obligations of Modaraba Companies and Modarabas including provisions of the Companies Act 2017 and the Securities Act 2015 subsidiary legislation and obligations under PSX listing regulations The Commission is committed to advancing Islamic finance principles and revitalizing the Modaraba sector Over the past three years significant initiatives have been implemented which include revamping the Modaraba Regulations amending the Modaraba Rules and issuing consolidated circulars, expanding Islamic financial products and services, and ensuring ethical standards in order to increase stakeholder understanding of Modaraba Law
of EDF projects letters sent to various stakeholders emphasizing this direc tive ISLAMABAD g h u l a M a b b a S Federal Minister for Commerce Jam Kamal Khan has issued a directive for a thorough impact assessment and analysis of projects funded by the Export Development Fund (EDF) in recent years As per details, this directive is aimed at evaluating the effectiveness of these initiatives in promoting export development and identifying areas for improvement The Ministry of Commerce has communicated this directive through a series of letters to various stakeholders involved in EDFfunded projects These letters, including one addressed to the Rice Exporters Association of Pakistan (REAP) emphasize the importance of detailed progress reports and updates on specific projects Highlighted projects include REAP s initiatives such as the Child Labour Elimination Program in the Soccer Ball Industry of Sialkot, Placement of hi-Scan E-Ray Inspection System at Sialkot International Airport Italy-Pakistan Technological Center Sports Goods Training and Facility Center at Sialkot Sialkot Tanneries Zone, Cutlery Institute of Pakistan in Wazirabad, Export Development Training Program in Ready Garments, and Knitwear Industry among others The letters call for comprehensive information on these projects to be submitted within three weeks stressing the urgency and importance of this assessment Minister Khan s directive aims to ensure accountability and transparency in using the EDF By assessing the impact of these projects, the Ministry seeks to determine their effectiveness in promoting Pakistani exports and to guide future funding decisions Ghazi Fabrics Int’l Ltd. temporarily halts spinning unit operations Company cites rising power costs, limited availabilit y of qualit y cotton at reasonable prices as reasons behind shut down PR OFIT n e w S D e S k In response to the ongoing economic challenges and escalating operational costs Ghazi Fabrics International Limited (GFIL) has taken the decision to temporarily shut down its spinning units The decision was communicated through a notice to the PSX on Tuesday, highlighting the company’s proactive stance in addressing the current market conditions GFIL cited the challenging economic landscape within the country characterized by increased power costs that have significantly impacted production expenses Additionally, the nonavailability of quality cotton at affordable prices has further compounded the operational challenges faced by the company Despite the temporary closure of spinning units GFIL emphasized its commitment to maintaining operational continuity in other areas The weaving unit will remain operational, ensuring ongoing business activities and preserving a segment of its production capabilities Ghazi Fabrics International Limited is primarily engaged in textile manufacturing specializing in the production of cotton and P C yarn as well as grey cloth Its products are marketed both domestically and internationally, contributing significantly to Pakistan’s textile industry Cnergyico halts refinery due to excess petroleum stocks refiner y faces unavoidable ullage issues per taining to alarmingly high stocks of hsd, pmg PR OFIT n e w S D e S k Cnergyico Pk Limited, the country’s largest oil refinery, has announced a temporary shutdown due to unavoidable ullage issues pertaining to alarmingly high petroleum product stocks The company informed the Pakistan Stock Exchange (PSX) through a notice on Tuesday that these stocks include high-speed diesel (HSD) and Premium Motor Gasoline (PMG) “This is to inform your good office that Cnergyico Pk Limited is to temporarily shut down its refinery due to unavoidable ullage issues pertaining the alarmingly high petroleum products stocks (mainly HSD & PMG), read the notice The refinery requested the concerned authorities to support the timely disposal of petroleum stocks enabling it to restart production PR OFIT M o n i to R i n g D e S k The influx of foreign portfolio investments has seen a remarkable 84% surge catapulting to a 30-month high, now standing firmly at Rs501 30 billion This surge stands in stark contrast to the dismal investment figures of Rs272 54 billion recorded just a year ago in June 2023 The rebound in foreign investments aligns with the performance of Pakistan s benchmark KSE 100-Index, which has recently scaled new heights, surpassing the 74,000-point mark This bullish trend reflects renewed optimism and investor appetite for Pakistani assets driven by positive economic indicators and ongoing discussions with the International Monetary Fund (IMF) for a new loan package According to a report by The Express Tribune, key market analysts and industry experts attribute this resurgence to several factors They state that the positive impact of recent IMF loan programs continued investor confidence leading up to the next IMF package discussions in June-July 2024 whereas historical data underscores the potential for robust returns during periods aligned with IMF programs instilling further confidence among foreign investors Experts also highlight the stable economic and currency environment as a key driver attracting foreign funds into Pakistani equities and debt markets The stability in economic fundamentals coupled with prospects of above-average returns positions Pakistan favorably in the eyes of global investors seeking profitable opportunities Data from the State Bank of Pakistan (SBP) corroborates this positive trend, indicating a substantial increase in foreign investment across various sectors Notably investments in PSX shares have surged to Rs449 24 billion a significant leap from Rs271 45 billion in June 2023 This renewed interest extends beyond equities, with external investments in other sectors also experiencing a notable uptick, underscoring a broader confidence in Pakistan’s economic prospects The recent focus on government debt securities by foreign investors signals growing optimism in the stability of Pakistan s fiscal policies and currency management Furthermore, the stable rupee-dollar exchange rate continued confidence as the central bank maintains its benchmark interest rate at record highs Looking ahead industry experts anticipate further positive momentum in Pakistan s markets, predicting a potential cycle of interest rate cuts starting in June 2024, following a sustained period of high inflation This anticipated rate adjustment is expected to drive up share prices paving the way for a bullish trajectory in the PSX benchmark KSE 100-Index, with projections reaching around 85,000 points by December 2024 and potentially exceeding 105,000 points by June 2025 The resurgence of foreign investments reflects a growing consensus among global investors on Pakistan s economic resilience and potential for sustained growth, positioning the country as an attractive destination for international capital inflows
MoC seeks comprehensive review
soars by 84% NEWS DESK “The Punjab Defamation Bill 2024” was introduced in the Punjab Assembly on Monday outlining measures to impose fines and either suspend or block the social media accounts of individuals convicted of spreading defamatory content The legislation was presented by the Minister for Parliamentary Affairs, Mian Mujtaba Shujaur Rehman, and subsequently Speaker of the Punjab Assembly Malik Muhammad Ahmad Khan directed that the bill be reviewed by the relevant committee This bill seeks to provide legal safeguards against false, misleading, and defamatory statements made through print electronic and social media targeting both public figures and private individuals The bill stipulates that in cases where defamation is established, the tribunal is authorized to demand that the defendant issue an unconditional apology should the plaintiff find it satisfactory This apology must be publicized in the same manner and with the
high,
their geographic jurisdictional limits Members of these tribunals are to be appointed by the government in consultation with the Chief Justice of the Lahore High Court Eligible candidates include those who have served as judges at the Lahore High Court, district judges or advocates of the Supreme Court of Pakistan with qualifications suitable for appointment as judges at the Lahore High Court These tribunals are required to reach a decision within one hundred and eighty days from the defendant’s first appearance Before the trial the tribunal may offer a mediation option through an accredited Alternate Dispute Resolution (ADR)
M a r y a m N aw a z - l e d P u n j a b g o ve r n m e n t t a b l e s d e f a m a t i o n b i l l i n PA g f o r e i g n p o rt f o l i o i n v e s to r s a r e m a k i n g a r o b u s t Co m e b aC k to pa k i s ta n ’ s d e bt a n d e q u i t y m a r k e t s g p o w e r d i s t r i b u t i o n C o m pa n i e s h av e a l s o b e e n i n C lu d e d i n 2 0 2 4 - 2 9 p r i vat i s at i o n p r o g r a m
gender or minorities,
in-camera pro-
may be submitted, which the tribunal will decide upon based on the merits of each case
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MAL AK AND DIVISION REMAINS SHUT AGAINST GOVT’S PL AN TO IMPOSE TA XES

division on Tuesday All commercial centres, business establishments, small and big industries markets and bazaars remained completely closed For the first time the chemist community

ticles 246 and 247 of the constitution Under which all types of taxes will be applicable in all districts of Malakand Division including Swat Buner Shangla Malakand Dir Upper Dir Lower Chitral Upper Chitral Lower and Bajaur from 1st July 2024 On the call of Abdur Rahim, President of Malakand Traders Federation, a historic shutter-down strike was observed across the

JAAC ends A JK protests af ter govt accepts demands on taxes, inflation

“Our movement revolved around three fundamental demands: affordable flour electricity and the dismantling of elite privileges, remarked Mir, lamenting the disruption of internet services, hindering the dissemination of successful negotiation outcomes Earlier JAAC had declared Monday as a black day to honor the three individuals who lost their lives during clashes with law enforcement which also resulted in numerous injuries and a policeman s death over four days of protests The committee also scheduled funeral prayers for the deceased at 2 pm at the University Ground today Despite the federal and AJK governments commitment to meeting protest-

ers demands demonstrations persisted into the fourth day on Monday A day prior, PM Shehbaz unveiled a Rs23 billion subsidy package for AJK during a high-level meeting convened to address valley unrest following unsuccessful negotiations between the AJK government and AAC

Subsequently, AJK PM Chaudhry Anwarul Haq announced the issuance of notifications regarding power and food commodity subsidies, expressing hope for peace restoration in the region

Speaking at a press conference in Islamabad AJK PM assured that the government harbored no intent to disrupt peaceful protests and confirmed the immediate implementation of the subsidy notifications, which would be a permanent fixture in the forthcoming FY2024-25 budget

The notification includes a reduction in flour prices from Rs3 100 to Rs2 000 per 40kg and revised electricity rates, ranging from Rs3 to Rs6 per unit for different usage slabs

Yasmin

CONTINUED FR OM PAGE 01

Justice Kayani said it would be very easy to tout 5thgeneration warfare,” asking why only jurists of the country had to fall prey to it He went on to say that facts would be determined about the “Pakistan Lawyers Forum” and from where its account was being operated

The senior jurist remarked that the determination of actuality will stop all paths for any individual or an institution to get access to any of the jurists However, no one has enough courage to get access to the judges, he added

The senior judge then issued notices to attorney general office Federal Investigation Agency (FIA) Intelligence Bureau (IB) Inter-Services Intelligence (ISI) and Pakistan Electronic Media Regulatory Authority (Pemra) He remarked that the IHC would summon reports from all institutions and it would also issue a notice to defence secretary Expressing outrage over the social media campaign against the country’s jurists, Justice Kayani remarked that such actions won’t be allowed on any medium of media social print or electronic at any cost He also warned that the scope of contempt of court proceedings would be expanded to high office if anyone attempted to approach the judges Separately another IHC s larger bench

headed by CJ Justice Farooq heard the contempt case on social media drive against Justice Kayani earlier today

The IHC chief justice issued notices to Waqas Malik Advocate journalists Matiullah Jan and Talat Hussain Subsequently a notice was also served to the top electronic media authority Additionally, the IHC has appointed senior anchorperson Hamid Mir, Pakistan Federal Union of Journalists (PFUJ) president, as well as lawyers Ahmed Hasan and Ahmer Bilal Advocate as amicus

A social media campaign was launched against Justice Sattar claiming that the high court judge holds American citizenship However, the IHC in a

which marked a year without resolution The unrest on May 9 triggered by the arrest of PTI founder Imran Khan, resulted in widespread violence and clashes across the country Many PTI members, including high-ranking officials were detained with trials scattered across various courts The riots labeled a Black Day by the military saw attacks on both civil and military installations leading to further repercussions for the PTI members involved

CONTINUED FR OM PAGE 01 Pakistanis on this list are estimated to have around $11 billion in properties

The project, titled ‘Dubai Unlocked’, draws from data spanning 2020 to 2022 It extensively reviews property ownership in Dubai excluding properties bought under company names or in commercial zones The data was initially collected by the Washington, DC-based non-profit Centre for

Heightened vigilance urged following post-rain dengue threat

03 NEWS Wednesday 15 May 2024 SLAMABAD SWAT S Y E D S H A H A B U D D I N A C O M P L E T E shutdown was observed across the nine districts of Malakand division and all businesses, commercial centres and even private schools remained closed in protest against the abolition of the separate constitutional status of the division and the plan to impose taxes The traders observed the strike and kept their businesses closed except for medicine stores and eateries The business community also threatened to launch a civil disobedience movement in the next phase if the government did not accept their demands Malakand Traders Federation (MTF) President Abdur Rahim Khan had given the strike call over the weekend after a detailed meeting with the all-district trade union leadership at Swat Press Club The traders said the government’s proposed move to extend the tax net was unjustified and against the agreement the then government had inked with the state of Swat in 1969 It is to be noted that Malakand division is consisted of Swat Shangla, Upper Chitral, Lower Chitral, Malakand, Bajaur, Lower Dir, Dir Upper and Buner districts According to details the constitution has been amended by the government to abolish the separate constitutional status of Malakand Division (PATA) through the abolition the ar-
the hotel community also partici-
in the historic strike, while Peshawar High Court Mingora Bench Bar
tion, Khyber Bar Council
District Bar
of all districts also fully sup-
the strike
the business community
appeared in court proceedings On the other hand, the private schools associations also closed the educational institutions in all the districts and a holiday was announced in the schools Talking to the media on the occasion Malakand Division Traders Federation President Abdur Rahim said that due to the incompetence of the local parliamentarians, the government has abolished the separate constitutional status of FATA as well as PATA “Neither we accept this move under any circumstances and nor ready to implement Income Tax and Sales Tax in Malakand Division , he declared He said that Malakand division was a tax free zone, appealing to the government not to impose more economic burden on the people of this region affected by terrorism earthquake and natural calamities He also threatened that they would be forced to rebel against the government and led a civil disobedience movement, saying the responsibility any such act would be laid on the current rulers and officials Shangla trade union president Muhammad Zada said they would sacrifice their lives but would not pay a single penny to the government in taxes claiming that it already collects 60 per cent of taxes in remittances, online businesses, mobile, electricity, internet packages, online shopping, freelancing and several others” means but in return the division’s residents “get nothing”
and
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MUZAFFARABAD S TA F F R E P O R T The Jammu Kashmir Joint Awami Action Committee (JAAC) declared on Tuesday the cessation of ongoing protests in Azad Jammu and Kashmir (AJK) against surging inflation exorbitant taxes and escalating electricity bills This decision came swiftly after the government yielded to their demands, offering relevant relief measures The government has acquiesced to all the protesters’ demands,” stated a representative of JAAC referencing Prime Minister Shehbaz Sharif ’s announcement of a Rs23 billion subsidy package for the people of AJK The shutterdown strike is being terminated ” he affirmed citing the government s commitment to reduce wheat prices by Rs1 100 per 40kg and provide electricity at production cost Nevertheless, he noted that a statewide shutter-down would persist until 3 pm as a tribute to those who lost their lives during the protests Emphasizing the formation of a judicial
to scrutinize the perks
the ruling elite the JAAC
the release
all detainees
nullification
cases
demonstrators
commission
enjoyed by
representative assured
of
and the
of
filed against
Shaukat Nawaz Mir a leader of AAC expressed gratitude to PM Shehbaz for meeting demands persistently advocated for over a year
curiae
The court ordered the Pemra to provide a transcript of the TV show aired on the matter Later the hearing was adjourned for two weeks
press release on April 28 refuted the claims The high court said that Justice Sattar does not hold any other citizenship except for Pakistan It added that a defamatory and baseless campaign was being run against Justice Sattar on social media Justice Sattar s wife and children are citizens of Pakistan and the US They were living in the US till 2021, but returned to Pakistan after he was appointed as a judge of the IHC and now live in Islamabad ”
LAHORE S TA F F R E P O R T In response to recent heavy rainfall, Provincial Health Minister Khawaja Salman Rafique has stressed the importance of increased efforts in combating dengue urging heightened vigilance At the third meeting of the Dengue Infectious Diseases and Disaster Management Committee Minister Rafique called upon all commissioners and deputy commissioners to step up surveillance measures against dengue The meeting chaired by Minister Rafique at the Civil Secretariat aimed to discuss strategies to mitigate the dengue threat During the session, the minister highlighted the shared responsibility in controlling dengue spread, urging personal oversight from commissioners and deputy commissioners in anti-dengue operations Emphasizing community engagement he sought the support of religious leaders to spread awareness messages through Friday sermons Health Secretary Ali Jan Khan provided a detailed update on infectious and epidemic diseases stressing the severity of the situation Key officials including Professor Waseem Akram, and representatives via video link attended the meeting, underlining the urgency of the situation Minister Rafique reaffirmed the government’s commitment to fighting dengue instructing secretaries to ensure prompt implementation of decisions made during the meeting He highlighted the importance of prioritizing upgrades in major hospitals and urged the Schools Education secretary to enforce anti-dengue activities in educational institutions With 79 confirmed dengue cases reported in Punjab, Minister Rafique called for concerted efforts at the district level, mobilizing every department to effectively combat the threat As rainfall persists the government remains resolute in safeguarding public health and curbing the spread of infectious diseases
State institutions might have leaked judges’ confidential data, says Justice Kayani
First Finance Facility Agreement for expor t of chillies from Pakistan to China signed between PCICL & LTEC ISLAMABAD S TA F F R E P O R T Pak China Investment Company Limited (PCICL) and LTEC International Agriculture Development Company Limited (LTEC) finalized and have signed a finance facility agreement for the export of chillies from Pakistan to China This agreement marks a significant milestone as LTEC becomes one of the flagship agricultural projects under the China-Pakistan Economic Corridor (CPEC) facilitating Pakistani businesses to access the expansive Chinese market The signing ceremony was witnessed by Mr Yang Guangyuan, Minister Counsellor from Embassy of China, Ms Naghmana Hashmi, Former Ambassador of Pakistan to China and EU & Dr Akmal Siddique Technical Advisor Ministry of National Food Security & Research Mr Hassan Raza Managing Director PCICL Mr Jiang Ketao Deputy Managing Director PCICL & Mr Duan Hongjun, CEO LTEC along with the management teams from both sides were also present on the occasion PCICL is striving to promote trade and investment between Pakistan and China Company’s involvement in numerous CPEC projects including mega power ventures underscores its pivotal role in Pakistan s economic development The extension of finance facility to LTEC marks a significant initiative of PCICL, solidifying its position as a key local lender of CPEC projects LTEC; with its strong presence in the food industry in China is establishing its mark as a distinguished company renowned for pioneering Chinese chilli contract farming project Speaking at the ceremony Mr Raza expressed confidence in the potential of Pakistan's agriculture sector to expand exports to China and PCICL s commitment to provide advisory and financing facilities to the industry to capitalize on this potential Mr Duan highlighted Pakistan's significant position as the fourth largest chilli producer globally and China s soaring demand for dry chilli which presents a significant opportunity for Pakistan to tap into a lucrative market & expand its pepper export to China Under the agreement, PCICL will provide advisory and funding to LTEC to facilitate its chilli exports to China aligning with PCICL's mission to catalyze economic growth and export opportunities between Pakistan and China Islamabad Police launches ‘ Voice for the Voiceless ’ to rec uperate abandoned animals ISLAMABAD S TA F F R E P O R T The Inspector General of Police (IGP) Islamabad, Syed Ali Nasir Rizvi, has decided to launch the initiative “Voice for the Voiceless” for the treatment and rehabilitation of the abandoned injured and sick animals In this regard the Islamabad Police DIG Headquarters Dr Syed Mustafa Tanveer and Zulfishan Anushay from JFK Animal Rescue and Shelter Organization have signed a memorandum of understanding (MOU), under which the Islamabad Police is going to set up Police Animal Welfare Services (PAWS) The primary goal of this initiative is the welfare of homeless retired and non-serviceable animals whether they belong to government or private institutions Japanese singer per forms in event at Embassy of Japan ISLAMABAD S TA F F R E P O R T Featuring performance by young Japanese musician Kenta Shoji, a special event was held at the residence of Ambassador of Japan to Pakistan Mr WADA Mitsuhiro on Tuesday A number of guests and music lovers attended the event At commencement of the event, Mr KENTA first mesmerized the audience with his mastery over playing the piano which was followed by captivating songs that he sung in Japanese, English and Urdu languages The singer from Kyoto Japan took the audience by surprise when he sang popular Pakistani hits by Vital Sign Dil Dil Pakistan” and “Aitebar” and received a great applause from each one the attendees
LAHORE S TA F F R E P O R T Pakistan Tehreek e Insaf (PTI) leader Dr Yasmin Rashid addressed a letter to Chief Justice of Pakistan (CJP) Qazi Faez Isa on Tuesday raising concerns over what she termed as the bogus government repeatedly transferring judges overseeing cases involving her and other party members She lamented the lack of justice, asserting that instead of fairness, there seemed to be a pattern of political vengeance She further emphasized that PTI had been enduring this for a year with no respite in sight Questioning the integrity of the authorities she pointed out instances where individuals once granted bail were promptly rearrested on fresh charges She also highlighted the absence of police with case records and the sudden disappearance of prosecutors during hearings Urging the chief justice to intervene, Dr Rashid pleaded for the establishment of a judicial commission to address the grievances stemming from the May 9 incident
‘Dubai Proper
Pakistani politicians named in data defend ownership
Rashid condemns victimisation, recurrent arrests in letter to CJP
t y Leaks’
Advanced Defence Studies (C4ADS)
subsequently shared with the Norwegian financial outlet E24
the Organised Crime
Corruption Reporting Project
A six-month
collaboration followed involving journalists
74 media outlets across 58 countries The collaboration revealed numerous individuals who owned property in Dubai, including convicted criminals, fugitives, and political figures PR OFIT M O N I T O R I N G D E S K The Central Directorate of National Savings (CDNS) has adjusted the interest rates for various National Savings Schemes This marks the fourth rate revision in five months As per reports, rates for Special Savings Certificates (SSC) were cut by 10 basis points to 15 70% from 15 8% Regular Income Certificates (RIC) now offer a return of 14 64% down from 14 76% Interest rates for Bahbood Savings Certificates (BSC) Pensioners Benefit Account (PBA) and Shuhada Family Welfare Account (SFWA) also decreased by 24 basis points to 15 36% The rate for Defence Savings Certificates was slightly reduced by 1 basis point to 14 39% Conversely Short Term Savi n g s C e r t i f i c a t e s ( S T S C ) r a t e s i n c r e a s e d b y 2 4 b a s i s p o i n t s t o 1 9 2 4 % T h e S a r w a I s l a m i c Term Account (SITA) saw a rise of 56 basis points, bringing the rate to 19 1% The profit rates for the Saving Account and Sarwa Islamic Savings Account (SISA) remain stable at 20 5% each These changes were effective from May 14, 2024 CDNS revises National S avings Schemes rates g SSC RATES REDUCED TO 15 70%; RIC YIELDS DROP TO 14 64% IN THE LATEST ADJUSTMENTS, EFFECTIVE MAY 14 g MTF PRESIDENT THREATENS TO LAUNCH A CIVIL DISOBEDIENCE MOVEMENT IN THE NEXT PHA SE ISLAMABAD E J A Z A R S H A D C H E E M A A government officer along with his Dubai-returned ailing cousin were robbed by two unknown dacoits at gunpoint in federal capital informed sources told Pakistan Today on Tuesday The incident took place within the limits of Police Station Karachi Company but unfortunately the police are trying to hush up the dacoity incident under the carpet by not filing FIR so far, the sources said According to sources, a grade-18 officer of Ministry of Planning Development and Special Initiatives Zarin Syed along with his cousin Fazal Ullah went for exercise on jogging track of cricket ground situated between G-9 and G-10 at 10:15pm on May 13,2024 They were exercising when all of sudden two unknown dacoits having guns in hands appeared from somewhere who made the both the men hostage of gunpoint One of the dacoits shouted at the government officer and his cousin and directed to handover mobile phones and cash else they would shoot them dead said the sources, adding that the dacoits snatched two mobile phones from the men M e a n w h i l e , t h e d a c o i t s m a n a g e d t o e s c a p e f r o m t h e s c e n e P o l i c e r u s h e d t o t h e c r i m e s c e n e a f t e r r e c e i v i n g c a l l a t e m e rg e n c y h e l p l i n e 1 5 a n d s t a r t e d i n v e s t i g a t i o n Govt officer robbed at gunpoint in federal c apital
and
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IN attempt to stop the protests in AJK against inflation, the federal government sanctioned an additional Rs 23 billion in subsidies The AJK government promptly accepted all the demands of the Awami Action Committee, the body behind the protests What may have turned the tide was the killing of an ShO while attempting to halt the protests After an additional ShO, a police sub-inspector, was killed in Mirpur on Saturday The protests showed no signs of ebbing though three days had passed since they started, and the marchers were determined to march on the ASJ capital of Musaffarabad Protesters had also taken over, though intermittently, control of the Kohala Bridge, which is the main crossing point from Pakistan’s Rawalpindi district into AJK and which links Rawalpindi and Muzaffarabad

The protests, and how they were handled, showed the complex relations between Islamabad and Muzaffarabad Residents of AJK are liable to pay Pakistani taxes They receive a separate subsidy on electricity, to ensure that they are treated appropriately AJK is not a province which means that it does command such rights as a share in the National Finance Commission Award or electricity royalties on the Mangla Dam It should not be forgotten that AJK is also heavily garrisoned and its citizens like to speak of themselves as the base camp for the liberation of the whole of Kashmir Mirpur has sent its sons to the UK in large numbers, and it cannot escape notice that the protests here coincided with fresh new anti-immigrant measures in the UK as protests mount against its support for Israel s slaughter of the Gazans

The problem with this grant is that those who originally recommended the power price hikes and the end to subsidies are the ones who have got the government over a barrel, namely the IMF The protests were not the result of administrative neglect or bureaucratic red tape but because the IMF did not see the AJK subsidies as an essential expenditure but as something which could be cut to reduce expenditures That should make the government think how will it handle such an explosion on a larger scale perhaps even countrywide? As temperatures rise electricity demand also does, and while loadshedding takes place, there are also vastly inflated bills to be paid The government has faced power protests before; it should ready itself for more With the IMF used to getting its way, the government should not expect it to show it any understanding Will

Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late)

M A Niazi Editor Pakistan Today Babar Nizami Editor Profit

Th e brilliant Palestinian Fayez Sayegh once wrote that when pro-Israel groups appeared to be at their strongest they were only masking the fact that they were at their weakest This is clear in the contrast of Israel’s sharp decline in standing among many demographic groups of American voters with the actions and statements by Congress and pro-Israel groups particularly in evidence during the past week

It s an established fact that Israel has been losing ground in American public opinion since well before October 7 Polls have shown that young people, Black, Latino, and Asian Americans hold somewhat more negative views of Israelis coupled with a rise in support for Palestinians While Israel in general has retained support among Americans the policies of the state are strongly opposed by majorities among all demographics with most saying they want to cut US aid to Israel because of settlement construction and other violations of human rights During the past decade, in an effort to confront this, pro-Israel groups launched a multi-pronged offensive components of which included: targeting and smearing both pro-Palestinian activists and members of Congress; passing laws in over two dozen states that penalized supporters of efforts to boycott or sanction Israel and in another dozen states to equate criticism of Israel with antisemitism; and a massive multi-million dollar “hasbara” campaign to improve Israel’s image in the USA

In the aftermath of the hamas attack Israel might have experienced sympathy for their tragic losses and made up some ground in lost support but they squandered that opportunity with the sheer brutality and the wanton disregard for Palestinian lives they demonstrated in the months that followed The results have only served to further weaken Israel’s standing among many groups of Americans especially Democrats and key demographic groups that form its core base of support Still Israel has been able to count on continued

The media’s role in framing the Taliban and women

support from the White house leaders in both parties in Congress mainstream media outlets and a majority of commentators and analysts who have remained receptive to the Israeli narrative of ongoing events Biden Administration officials have persistently defended Israeli behaviour, even when attempting to shift gears by suggesting that Palestinian civilians should be protected There have been leaks from executives of major US television networks and newspapers telling their staff how to cover stories what must be said and what may not be said in ways that echo Israel s positions And statements by leaders in Congress have been especially shameful in their defence of Israeli actions Despite this top-down advantage trouble is percolating from below Israel continues to lose support from key Democratic constituents young and minority voters with that decline now also impacting support for the President Much has been made of the precipitous decline in Arab American support and the more than one-half million voters who have so far voted for the Arab American-led “uncommitted” campaign in Democratic primaries The problem is deeper For example a recent Washington Post poll shows a significant drop in President Biden s support among Black voters with his backing for Israel being cited by respondents as one reason for that decline The changing mood among voters toward Israel has taken an activist bent Massive demonstrations have been held in most major cities More than 200 local governments and major institutions including major unions have issued strong statements criticizing Israeli actions and calling for an immediate total ceasefire Publicized statements by over 1000 leading Black clergy, another by the same number of Catholic leaders, most of the major Protestant churches, and prominent groups of young progressive

serve the strategic goals of foreign powers

Tevents to get out the desired results Instances include the Gulf war (19901991), War in Iraq (2003), North Korea s Nuclear Programme, hong Kong protests (2019-2020) and so on, where sensationalism in the media created a more horrific image than reality which in turn influenced decisions about foreign policy that favoured certain factions Let s shift the focus to how the Taliban is perceived in relation to women There is no doubting the injustices and mistreatment women endure apparently in the name of Islam, but what stands out more in international media coverage is the emphasis on repression and strictness When the Taliban regained control of Afghanistan in 2021 international news outlets called out and highlighted the re-imposition of strict dress codes; wearing a proper hijab , and punishing the male relative if not observed (United Nations, 2024) The following coverage focused on the stark regression in women’s rights and freedoms and highlighted extreme examples and dramatic images While these stories raised global concerns they often overshadowed the complex and varied experiences of Afghan women while also ignoring the fact that most of them observe purdah by choice This sensational approach can reinforce stereotypes and paint a monochromatic picture which oversimplifies the experiences of Afghan

women and ignores the broader concept Cultural biases have also influenced media portrayals by emphasizing differences between Western and Afghan cultures Stories focusing on the perceived backwardness of Taliban practices compared to Western standards have been floating while overlooking local nuances and the agency of Afghan women This approach can again obscure the broader social and political contexts in which these practices occur and oversimplify the experiences of Afghan women Shadi hamid, an American author and political scientist quotes in one of his research articles: The United States never understood Afghanistan American planners thought they knew what the country needed which was not quite the same as what its people wanted American policy was guided by fantasies; chief among them was the idea that the Taliban could be eliminated and the whole culture can be eliminated in the process (hamid, 2021) International writers, in particular, wield significant influence in forming narratives that often become the lens through which the world views this complex dynamic Their storytelling choices and framing can have far-reaching consequences which not only impacts public opinion but also global policy decisions Works like A Thousand Splendid Suns (Khaled hossaini) The Bookseller of Kabul (Asne Seierstad) When the Moon is Low (Nadia hashimi) etc are the examples of such literature which has shaped the perceptions of West regarding the Taliban Afghanistan and its women Coverage like that may align with the foreign policy interests of certain nations which are looking to justify military intervention or support for particular political agendas

An instance of this is the 2001 US military action in Afghanistan which was justified by a mixture of 9/11 aftermath media representations of the Taliban s abuse of women, and their harbouring of Al-Qaeda This way, by highlighting the Taliban’s oppressive practices, international media can elicit support for interventionist policies and create narratives that

The questions which pop to

on

So whose voice is actually missing in this narrative? Too often it is the voices of Afghan women themselves Their perspectives experiences, and stories are frequently overshadowed by international interpretations They might have experienced persecution in their own homes at the hands of their own relatives or because of a host of other issues unique to being a woman just like other non-Afghan women When Afghan women do speak out their narratives can offer a much-needed balance, providing nuanced insights into the complexities of life under the Taliban These voices will have the potential to challenge one-dimensional portrayals which reveal the resilience resourcefulness and agency of Afghan women International writers have this responsibility to present more nuanced and accurate portrayals of the Taliban s relationship with women, considering the broader sociopolitical context in their reporting ethical storytelling demands a commitment to balance ensuring that the narrative does not ignite more stereotypes or serve narrow interests

The international media s framing of the Taliban and women s relationship in Afghanistan bears striking similarities to the way the Kashmir issue is portrayed on the global world forum In both cases the narratives are often dictated by the geopolitical interests and rivalries of other countries rather than the lived experiences of the people who are directly affected The questions which pop to mind are: how does the global focus on power struggles and territorial disputes obscure the human cost of these long-standing conflicts? If international writers and media outlets continue to amplify external perspectives over the actual stories of those living under these circumstances can we truly say we understand the reality on the ground?

The writer is currently pursuing Mphil in International Relations from Kinnaird College for Women Lahore and can be reached at amnahashmee@gmail com

If

04 Wednesday 15 May 2024
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
s
n
COMMENT
P r o t e s t
i
A J K
Rs 23 billion stop the riots?
Founding Editor
C U R R e N T Ly over 80 million workers in Pakistan are employed in various sectors a significant number of whom work in private companies Unfortunately the majority of these workers are not only deprived of many fundamental rights guaranteed by the prevailing laws of Pakistan but are also unaware of them If even a few of these laws were implemented, it could revolutionise the economic lives of these workers, as having knowledge of one’s rights is essential to claiming them For example under The Minimum Wages Ordinance 1961 a Minimum Wages Board has been established which annually decides the minimum wages for workers Currently the minimum monthly wage for a worker in Pakistan is 32 000 PKR which is a basic right for every worker in the country Similarly, under The Industrial and Commercial employment (Standing Orders) Ordinance 1968, it is mandatory for every employer to pay a bonus in addition to the salary within three months of the end of any profitable year to those workers who have been continuously employed for at least 90 days during that year Moreover under The Companies Profits (workers participation) Act of 1968 it is mandatory for every employer to deduct 5% amount from their gross profits and distribute this amount among workers affiliated with the institution who have at least 180 days of attendance per year, in a specific proportion There are numerous labour laws in place aimed at improving the economic lives of workers in Pakistan granting them various entitlements and even post-retirement benefits here a question arises: why are these workers not thriving despite such entitlements? In my perspective two primary factors among others contribute significantly to this issue Firstly, misgovernance has led to the inadequate implementation of numerous labour laws and the entitlements they guarantee for workers Secondly, some employers, despite being aware of these labour laws deliberately withhold or deny workers their rightful entitlements Consequently the working class continues to suffer increasing impoverishment while industrial owners wealth surges dramatically Ironically, there are many multinational companies operating in Pakistan right now with annual profits in billions, yet thousands of workers associated with these companies are deprived of these basic rights If the aforementioned labour laws are fully enforced, the minimum monthly income of workers could increase from 32 000 PKR to an average of 50 000 PKR which could significantly ease the economic difficulties faced by the working class amidst the prevailing inflation in Pakistan Additionally the monthly income of workers should be income tax-free, as a large portion of their salaries is consumed by income tax, and they do not benefit from the taxes deducted from their salaries It is essential that the government of Pakistan not only ensures the implementation of labour laws but also makes the salaries of registered labourers income tax-free WAQAR AHMED RIZVI ISLAMABAD
crisis K h U z D A R in Balochistan is known as a hub of institu- tions of higher learning, but most of them are merely degree-producing factories where students are trained to merely clear semester examinations rather than do some actual learning Traditional methods are used by most faculty members who seem more concerned about their salaries than providing productive feedback Merit is compromised at every stage of the process Instead of merely focussing on administration and accountability those running the system find it enough to upload vlogs and hold photo sessions for personal promotion Period ABDUL HALEEM QUETTA 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
Labour liberation
Education
h e R e is a saying that “The loudest voices often drown out the quiet truths This is especially relevant in light of the events surrounding the conflict in Kashmir As evidenced by their behaviour in diplomatic practices and lack of collaboration in SAARC and other bilateral or multilateral regional forums Pakistan and India have been at each other s throats They continue to use the conflict for political purposes but the true problem the misery of the Kashmiris remain Similarly, there are grounds to think that the problem of Taliban subjugation of Afghanis particularly women in Afghanistan is an additional illustration of this The media has always played a critical role in shaping global diplomatic practices by bringing sensationalism to key
W h a t m o t i v a t i o n s d r i v e t h e p o r t r a y a l o f s t r i c t n e s s i n t h e m e d i a’s d e p i c t i o n o f t h e Ta l i b a n ?
amna HasHmi
Jews have also called for a ceasefire and for conditions to be placed on military aid to Israel Sustained anti-war demonstrations on over 200 college campuses and more recently protest encampments at more than 50 colleges and universities have been led by students calling for an immediate permanent ceasefire and demanding that their universities divest from US companies supporting Israel Congress has also been impacted While the leadership in both parties remain lockstep in support of Israel a higher than ever number of Senators and Representatives have either signed letters calling for conditions to be placed on aid to Israel or voted against pro-Israel legislation It’s clear that change is afoot And so, in the face of their rapidly deteriorating position, pro-Israel groups have embarked on an all-out campaign not to make their case but to stomp out their opponents Their efforts are both ruthless and a threat to our democracy One pro-Israel lobbying group has earmarked $100 million to defeat members of Congress who have supported Palestinian rights To understand the magnitude of this expenditure note that at the high end a congressional election costs about $5 million The $20 million they are committing to defeat Rep Jamaal Bowman is obscene by comparison In Congress they are pushing national legislation that would equate opposition to Israel with antisemitism and result in colleges and institutions being denied federal funding if they don’t pass the test of pro-Israel purity Legislation has also passed the house (but not yet the Senate) removing the tax-exempt status of institutions deemed supportive of terrorist organizations with support being so loosely defined that it can include simply advocating for Palestinian rights Congressional leaders have also threatened the International Criminal Court with stepped up sanctions should they charge any Israeli leader with crimes And they ve expanded the ban on any US funding to support UNWRA Congressional leaders and pro-Israel groups have also been echoing the rhetoric of Israel s Prime Minister in smearing the protesting students calling them antisemites (even though a disproportionately large number of them are Jewish) and equating their protest with the Nazi antisemitic campaigns that led up to the holocaust Finally these same pro-Israel groups are exposing and smearing foundations supporting the progressive Jewish groups opposing Israel, calling for them to be shunned by the Jewish community The ability of pro-Israel groups to push the Administration Congress and major media outlets to take one-sided positions pass repressive laws smear and damage the reputations of members of Congress or students who oppose them may appear to demonstrate strength In reality, it s a function of their weakness and the weakness of their case Their far-reaching efforts to police speech and to penalize and crush those who criticize Israel and its policies are reminiscent of the McCarthy era But because Israeli behaviour will not change the critics especially those within the Democratic Party will not go quietly into the night Instead their resolve will harden and may ultimately damage President Biden s bid for reelection The writer is President of the Arab American Institute
h e n d i s p l a y s o f s t r e n g t h m a s k w e a k n e s s Th e I s r a e l i l o b b y f a c e s u n p re c e d e n t e d p u s h b a c k Washington Watch D r J a m e s J Z o g b y
W
mind are: How does the global focus
power struggles and territorial disputes obscure the human cost of these long-standing conflicts?
international writers and media outlets continue to amplify external perspectives over the actual stories of those living under these circumstances, can we truly say we understand the reality on the ground?

Generation gap a smouldering social issue

Not getting enough attention

Th e generation gap is one of the leading social issues, which is being discussed everywhere and everyday but unfortunately no serious work has been done to minimize this gap and live a compatible life The generation gap is an academic and social concept that elaborates the mismatch of ideas and cultural discrepancies between the old and young generations In the intergenerational gap both of the generations blame and arguably criticize each other for creating these differences and no one of wither age group tries to bring the two cohorts close to each other The history of the generation gap is comparatively old but since the mobile technology has infiltrated into the social world the ideas and thinking differences have increased swiftly which has widened the gap between the two age groups The gap in return has caused social distress familial embroilments mental distortions emotional and psychological unease and so on The adoption of modern technology is inevitable every field of life has been overlapped by this technology Updatability is the need of the hour The generation that lags behind in the pace of updatability will face an unfortunate end The cleavage emerges usually because the old and mostly illiterate generation is totally disoriented with the usage of mobile technology and the youth are thoroughly dependent on technological gadgets Consequently the elders have been found always complaining of the young generation being engaged with their mobiles and not giving them proper time to share

daily routine activities however, the young generation is trying to justify that modern technology is the need of the time and contend that spending life without technology is impossible Speaking impartially the situation and trends in the life are no doubt changing frequently which in turn making the existing cultural traits obsolete and absorbing new global trends and foreign traits especially the western trends, which is indeed denounced and discouraged by the older generation and welcomed by the young generation that ultimately is promoting the intergenerational dissonance

The generational gap is an old phenomenon It is viewed by demographers that generation gap was noticed for the first time after World War II, when the devastating war annihilated a large portion of the world population Consequent upon the situation that followed there was much child reproduction to increase the population so that to achieve the desired level The Postwar generation was later declared as the Baby Boomers (the generation born between 1946 and 1964) It is asserted that this generation faced off for the first time with their parents who had been born after World War I and the generation was named far ahead as the Traditionalists or Silent Generation (the generation born between 1925 and 1945) The ideas gap continued through the other generations, such as Generation X, Generation y, Generation z, and the Alpha Generation Our society is generally passing

through a transitional period, where the young generation is shifting into the new life courses and the old cohort is still attached to the traditional lifestyle Both of the generations have been found stubborn in their stances and ways of thinking acting and feeling The inflexible mindsets of differing generations have fostered frustration, intolerance and antagonism that have bred mutual conflicts, hatreds and social isolation unluckily

Research studies indicate that smartphones and cultural diffusion are the biggest reasons encouraging cleavage between the two generations Moreover, it is claimed that the economic independence of the young generation and the young generation being less religious than the old generation are the other indicators separating the two generations from each other The youth have been desperately justifying that they are ignored by the elders in domestic affairs and claim that their elders are outdated

Sociologists conclude that generation gap is a universal phenomenon, but it is found very narrower in those families and communities where the two generations are flatly illiterate or both of the generations are completely educated and equally updated Only education is not instrumental to bridge the gap but updatability is more important than any other factor to bring the two conflicting age groups closer to each other

The generation gap in Pakistan is prominently caused because of the tribal nature of

the society, especially within the older population The elders never ever are made to accept the social change wholeheartedly They are firmly attached to their old traditions and resist any new trait to be adopted as a part of their culture The young while having the experiences of urban centers and more exposed to new trends, can never agree to live a traditional lifestyle The educational progress and easy access to technological tools are influencing their cultural

e x t r e m e s m ay s u bv e r t t h e s i t u a t i o n m o r e T h e o l d g e n e r a t i o n s h o u l d u n d e r s t a n d t h e

d e m a n d s a n d n e e d s o f t h e m o d e r n wo r l d , a n d s h o u l d n o t e x p e c t o r fo rc e yo u t h t o

b e h a v e l i k e t h e y d i d T h e yo u t h s h o u l d s p a r e t i m e fo r t h e i r a g i n g p a r e n t s Pay h e e d

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

A TikTok ban won’t fix social media

TikTok video posted on its official account The law was “a ban on you and your voice ” Chew said he continued TikTok gives everyday Americans a powerful way to be seen and heard Chew s statement hinted at what seems to be ByteDance s legal strategy moving forward: an argument that getting rid of TikTok could amount to a violation of free speech On Tuesday the company sued the U S government writing in its filing that preventing American citizens from accessing the app is unconstitutional There are legal precedents for such a claim, among them a 2017 Supreme Court case, Packingham v North Carolina which struck down a state law banning a sex offender from Facebook A fundamental principle of the First Amendment is that all persons have access to places where they can speak and listen, the former Supreme Court Justice Anthony Kennedy wrote “One of the most important places to exchange views is cyberspace particularly social media

other tech companies have leaped to copy it you can ban TikTok in America but it is far too late to contain the habits it has unleashed The U S ban makes most sense as a political stunt: bellicose actions against China are popular across the political spectrum, and the demographic most vocally upset by the threatened ban are those too young to vote

calls recounted to Politico by lawmakers offices, may have actually encouraged legislators to act on the proposed ban According to Politico, the chair of the house Committee on energy and Commerce Cathy McMorris Rodgers concluded that the calls only exposed the degree in which TikTok can manipulate and target a message In other words, by trying to rally its supporters, the company had only proved that it was a propagandistic threat TikTok’s C e O Shou zi Chew became something of a Gen z-approved celebrity after he appeared in front of

But other hints from ByteDance about how it might respond to the new law don t quite cast its position in impassioned First Amendment terms According to Reuters, ByteDance would rather shut down its U S TikTok operation than sell it The vaunted recommendation algorithm that controls TikTok s For you feed is what makes the app unique and successful; ByteDance leverages the same technology across its many other businesses, including Douyin, the Chinese version of TikTok As in any other international trade dispute putting valuable technology in the hands of a competitor through a sale would be destabilizing Meanwhile TikTok s U S audience reportedly only generated about thirteen per cent of ByteDance’s 2023 revenue In that sense forgoing the American market would be strategically preferable for ByteDance and relatively trivial TikTok is already banned outright in several countries, including India, and has survived just fine (China itself blocks access to TikTok, not to mention Facebook and Instagram, in its own strategy of techno-nationalism ) The TikTok algorithm is inextricable from the app and the algorithm also seems to be what we are most afraid of In both political speeches and in a portion of media headlines, it is depicted as something that could deliver Chinese propaganda to unwitting American teenagers and allow a foreign government to track in great detail the behavior of our citizens Unfortunately there is already plenty of propaganda, misinformation, and international bot activity to be found on every other social platform, which will remain quite accessible to Americans in the face of any TikTok ban The data generated anywhere on the Internet can be packaged and sold to foreign (or domestic) adversaries so long as it is tracked Parents express concerns about their childrens addiction to TikTok, and yet youTube Shorts and Instagram Reels two U S products aspire to be just as transfixing TikTok has provided the template for the algorithmic passive future of social-media consumption and

One funny thing about TikTok is that for all its ubiquity in the news cycle and in discourse about social media many of the concerned parties know little about it A 2023 survey by the Pew Research Center found that only thirtythree per cent of American adults say that they “ever use” TikTok; in contrast eighty-three per cent say they use youTube and sixty-eight per cent say they use Facebook The survey also indicated that the TikTok demographic dramatically skews younger: sixty-two per cent of eighteen-to-twenty-nineyear-olds say they ever use TikTok, whereas ten per cent of those aged sixtyfive and older reported that they ever use it According to another estimate more than two-thirds of TikTok s monthly active users in the U S are under thirtyfive years old The majority of millennials whom I encounter open the app rarely if ever and confess to not really knowing what it’s like or how it works in part because of its entrenched reputation as an app for the youth Admitting that you use it, as I do, sometimes feels like saying that you watch Saturday-morning cartoons

This ignorance of TikTok reinforces its status as a bogeyman and makes it easier to blame for social media s collective ills than the other apps on which Americans already spend so much of their time TikTok s intoxicating aspect is its feed, which draws users through an endless parade of content and seems to read their minds about what they want to see next What is so addictive on the app is for the most part the same kind of banal Internet content that now exists everywhere else: unhinged monologues, repeatable choreography moves, America’s Funniest home Videos”-level stunts, and random shopping recommendations (That last genre has spread rapidly through the platform as its executives have realized that e-commerce may be more lucrative than advertising ) TikTok is not magic; it is not the digital equivalent of a nuclear bomb controlled by one nation at the risk of another If we want to understand its real risks we would do better to disentangle the motives behind the U S ban The direct influence of the Chinese government would be ameliorated somewhat by divorcing the app from ByteDance, if that is indeed a path accepted by its parent company, or by forbidding the app to function at all in the U S But if the core concerns are digital-data surveillance and the targeting of individual users in ways that can manipulate or endanger them, then we have plenty of domestic threats to face first Kyle Chayka is a staff writer for The New Yorker and the author of most recently Filterworld: How Algorithms Flattened Culture

Wednesday 15 May 2024 COMMENT 05
N April 24th after years of talks about a TikTok ban President Joe Biden committed to remaking the platform s existence in the United States A foreign-aid package that he signed into law and that passed in the house and the Senate with strong majorities included funding for Ukraine Israel and Gaza plus a bill that will force the digital platform to either sell itself to an American entity or be banned on a national level ByteDance, TikTok’s Chinese parent company, now has about nine months to divest In his remarks after signing the package Biden didn t directly refer to the socialmedia platform though he did say that the foreign aid would make America safer, a notion that also helps explain the government’s reasoning on the TikTok ban Over the past several years TikTok has become something of a symbol both of fears over China s rise as a dominant international power and of concerns that social media as a whole is harming children The existential threat posed by the new legislation is nothing new In 2020, the company put forward an elaborate plan to give twenty per cent of its platform to Walmart and Oracle which would have hypothetically insured the data s security and the company s independence from the Chinese government That plan was eventually shelved, in 2021 owing to security concerns Since then however the platform has only grown more popular among U S users whom the company has tried to convert to activists
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e t ’ i s a v i s i o n o f m u l t i p l e f i n a n c i a l e c o s y s t e m s t h a t c o n n e c t w i t h o n e a n o t h e r, m u c h l i ke t h e I n t e r n e t , i n o rd e r t o g i v e i n d i v i d u a l s a n d b u s i n e s s e s f u l l c o n t ro l o v e r t h e i r f i n a n c i a l l i v e s NEW YORKER k y l e C H ay k a T h e financial system is ready for a giant leap forward It s time to explore new frontiers We foresee a time when applying for a mortgage or a small business loan could be as easy as texting a friend or booking a hotel room online There has been some progress on technology to enable such a new reality as evidenced by the proliferation of mobile-payment apps But transforming financial services will require creating an entirely new system to match the advances made in communications since the advent of the Internet and smartphones Today’s mobile phones are powerful computers after all so it would be a waste not to maximise their use To this end we have drawn on our joint expertise in economics and technology to offer a blueprint for the future financial architecture What we call the Finternet is a vision of multiple financial ecosystems that connect with one another much like the Internet in order to give individuals and businesses full control over their financial lives We foresee a world in which people and companies can use any device to transfer any financial asset, no matter the amount, to anyone in the world These transactions would be cheap, secure, near-instantaneous and available to all This new system would be particularly important for emerging and developing economies where large gaps in access to financial services remain despite efforts to bolster inclusion Many services are simply unavailable or not widely available, particularly to people living in remote areas and with low incomes And even when people are able to access financial products, using them is often expensive and slow Important breakthroughs in recent years have paved the way for the Finternet One example is tokenisation whereby tokens representing digital assets can uniquely identify ownership as well as applicable rules Another is programmable ledgers, the digital platforms that combine the record-keeping functions of traditional databases with the governance arrangements required to update them To unlock the value of financial innovation and build a seamless interconnected network we must combine all these elements and break down the current financial system s barriers and silos Specifically, bringing together different tokenised assets on unified programmable ledgers would drastically reduce the need for lengthy messaging clearing and settlement systems that create extra costs take more time and limit access to credit and other financial services Unified ledgers would also enable smart contracts, which can trigger an action transferring ownership of a house for example if prespecified conditions are met They could even bundle together numerous automated transactions So, in the case of a property transfer, the payment of the purchase price and anti-money laundering checks could happen at the same time and take seconds rather than weeks Overall these ledgers would meet and perhaps surpass today s regulatory and supervisory standards while also being faster, cheaper and more reliable than current systems But technology is not enough Central banks, as the guardians of public money, have a major role to play in the new financial architecture The money they issue is the vehicle through which all economic transactions are ultimately settled A digital form of this money is thus a necessary foundation for the Finternet Commercial banks will also play a crucial role in interacting with consumers, not least by providing tokenised bank deposits that will form the lifeblood of the Finternet’s monetary system Moreover a robust regulatory and supervisory structure must underpin the Finternet Safeguards such as deposit insurance and public oversight of financial-services providers should be maintained to protect customers and ensure that money has the same value regardless of whether it is issued by a central bank or a commercial bank The radical use of new technology could streamline the layers of manual checks now required to comply with rules and regulations This would enable the creation of products that otherwise might not be developed due to compliance burdens while also ensuring that the Finternet is not used by bad actors seeking to exploit loopholes Making the Finternet a reality will take years but we must start now The technology is mature enough, and, crucially, we are not yet locked into rigid institutional frameworks or trapped in walled gardens” of services created by monopolies This is a once-in-a-lifetime opportunity to redesign the architecture of the financial system and we should be thinking big and imaginatively instead of focusing narrowly on individual technologies We know where we need to go equally important, we have the tools to get there Now the global financial system just needs its Neil Armstrong moment”, a small step that represents a giant leap for mankind Agustín Carstens a former governor of the Bank of Mexico is general manager of the Bank for International Settlements Nandan Nilekani co-founder and chairman of Infosys is founding chairman of UIDAI (Aadhaar)
PR OJECT SYNDICATE ag u s t í n C a r s t e n s a n D n a n Da n n i l e k a n i
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W d d y 15 M y 2024 | ISLAMABAD 06 NEWS AGENCIES C H I N A on Monday convened a global trade and investment promotion summit in Beijing with participation by hundreds of representatives from over 30 countries and regions and 170 foreign entities in another major push by the world s secondlargest economy to boost cooperation amid growing geopolitical and trade tensions At the summit, hosted by the China Council for the Promotion of International Trade (CCPIT), representatives of international organizations multinational executives and foreign business groups commended China s critical role in promoting global cooperation and major contribution to global economic development, especially as a rising tide of protectionism in some advanced economies seriously hinders global trade and investment While some Western officials and media outlets have stepped up smearing China’s economy and even sought to crack down on emerging Chinese industries foreign businesses remain confident in the prospect of the Chinese economy and are committed to further expanding in the Chinese market many business leaders from Asia, Europe and North America told the Global Times on Monday P R O M O T I N G C O O P E R AT I O N: The Global Trade and Investment Promotion Summit of 2024 was held in Beijing on Monday In this third edition the summit is another major platform to bring together Chinese and foreign business leaders to boost trade and investment cooperation This year s event was attended by more than 700 representatives, including over 300 representatives from 39 countries and regions and 170 foreign organizations according to the CCPIT All 18 foreign business groups in China were also represented at the summit and more than 20 senior executives from multinational corporations, including Dell, Tesla, IBM and Boeing attended the summit, the organizer said Addressing the opening ceremony on Monday, Chinese Vice President Han Zheng said that China will continuously expand high-level opening-up and share the development dividends with the world A steadily growing increasingly open Chinese economy will definitely add strong impetus to the world economy, Han said Among the major outcomes of the summit is the launch of the Beijing Initiative of the Global Trade and Investment Promotion Summit of 2024 The initiative called for global cooperation in five aspects including accelerating the world economic recovery, maintaining the stability and smooth flow of industrial and supply chains, embracing the transformative force of artificial intelligence, and fostering momentum for green and lowcarbon development We welcome business communities from more countries to join the initiative enrich its content, explore new forms and areas of cooperation, and work together for a stronger, greener and healthier global development,” read the initiative shared with the Global Times on Monday The summit is emblematic of China’s intensifying efforts and leadership role in promoting global cooperation in trade and investment foreign representatives said at the summit, pointing to various Chinese initiatives and platforms for cooperation, including the Belt and Road Initiative (BRI) and the China International Import Expo Siddharth Chatterjee UN Resident Coordinator in China commended China s major role in helping stabilize global supply chains amid increasing levels of conflicts and major disruptions to supply chains “We need China’s leadership in the global landscape to promote more integration, more movement of good supplies and people so that we actually see a very integrated global business community Chatterjee said on the sidelines of the summit on Monday China has remained steadfast in advancing high-level opening-up This year s Government Work Report included a slew of opening-up measures, including lifting all market access restrictions on foreign investment in manufacturing and reducing market access restrictions in services sectors such as telecommunications and healthcare Meanwhile a meeting of the Political Bureau of the Communist Party of China Central Committee on April 30 also said that reform and opening up is an effective instrument for the cause of the Party and the people to make great strides in keeping up with the times In addition to opening its doors to foreign businesses China has also hosted many high-level events to promote cooperation, including the China Development Forum in March, which attracted hundreds of global CEOs the Boao Forum for Asia which was attended by many global leaders and business executives Last month China also kicked off the 135th China Import and Export Fair in Guangzhou, South China s Guangdong, and the 4th China International Consumer Products Expo concluded in South China’s Hainan, which yielded many business deals As the world is experiencing some economic difficulties the approach from China has been very positive It s trying to reduce protectionism globally, Edward AllisonWright, member of Executive Committee and Board of Directors at World Trade Centers Association said on the sidelines of the summit on Monday noting that the world can share opportunities in China through initiatives such as the BRI C H I N A V O W S T O S H A R E D E V T D I V I D E
TEHRAN A G E N C I E S The Lebanese resistance movement Hezbollah has stated that it has launched a multipronged attack on Israeli targets in the north of occupied Palestine Al-Manar television network reported on Tuesday that Hezbollah had launched missile and drone attacks on the Metula region in the occupied territories Earlier the resistance movement had destroyed a number of tanks of the Zionist regime s army and killed and wounded several Zionist soldiers in separate drone and rocket operations in the north of occupied Palestine and the Gaza Strip N A S R A L L A H T E R M S AT TA C K I N G R A FA H AS NETANYAHU S GOAL TO COVER UP DEF E AT S: Hezbollah s Secretary General Sayyed Hassan Nasrallah has said that Israeli attacks on Rafah are the Zionist prime minister Benjamin Netanyahu s goal to cover up his defeats in Gaza During a televised speech, Sayyed Hassan Nasrallah addressed the recent escalation of violence in Gaza and said that the Israeli regime’s officials have admitted to daily defeats in the conflict Nasrallah went on to say that Israel has also acknowledged the defeats in the Gaza war the support fronts and the economy of this regime However, despite these failures, the Israeli government is worried about withdrawing from Gaza as such a move would be considered a failure and a significant blow to their regime Referring to the confusion of the Zionist regime’s leaders about the situation in Gaza Hezbollah Secretary General said that the senior officials of the occupying regime are deadlocked and have no idea about their next steps after the end of the aggression in Gaza That’s why they’re trying to find a way to show themselves victorious Therefore, the regime’s prime minister is trying to enter Rafah city to cover up his failure in raiding Gaza Nasrallah urged people not to be fooled by the US’s recent scenarios, pointing out that the US supports Israel and has not changed its position on the conflict He also mentioned that Hamas agreement with mediation parties surprised Netanyahu and marked a significant victory for Hamas Putin to pay state visit to China BEIJING S TA F F C O R R E S P O N D E N T At the invitation of Chinese President Xi Jinping Russian President Vladimir Putin will pay a state visit to China from May 16 to 17 foreign ministry spokesperson Hua Chunying announced on Tuesday This is Putin s first state visit after he was sworn in as Russian president for a new term, Wang Wenbin, another foreign ministry spokesperson, told a regular press briefing As this year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia during the visit Xi and Putin will exchange views on bilateral relations cooperation in various fields and international and regional issues of common concern, Wang said Hezbollah attacks Israeli targets in nor th of occ
WASHINGTON A G E N C I E S US national security adviser Jake Sull i v a n s a i d o n M o n d a y t h a t P r e s i d e n t J o e B i d e n ’s a d m i n i s t r a t i o n d i d n o t v i e w t h e k i l l i n g s o f P a l e s t i n i a n s i n Gaza by Israel as genocide Sullivan speaking to reporters at the White House said the United States wants to see Hamas defeated, that Palestinians facing the brunt of Israeli onslaught were in “hell”, and that a major military operation by Israel in Rafah would be a mistake We do not believe what is happening in Gaza is a genocide We have been firmly on record rejecting that proposition Sullivan said Biden, who is running for re-election this year has faced heavy criticism from his own supporters domestically for his support of Israel; some of those critics have accused Israel of committing genocide Reiterating a comment Biden made on Saturday, Sullivan said there could be a ceasefire in Gaza now if Hamas would release prisoners The world should be calling on Hamas to return to the negotiating table and accept a deal Sullivan said The United States is working urgently for a ceasefire and prisoner release deal, Sullivan said He said he could not predict when or if such a deal would be sealed W h i t e H o u s e d o e s n o t s e e G a z a k i l l i n g s a s g e n o c i d e Coc a- Cola’s solar-powered water filtration plant in Megwarh Village near Umerkot S indh benefits 800 households With 800 households, Megwarh is a small village near Umerkot Sindh, birth place of the great Mughal Emperor Akbar Coca-Cola has set up a filtration plant in the village with a maximum capacity of disbursing 1000 liters per hour The solar-powered pump uses ultrafiltration system to clean water which women of this community earlier fetched from another pump which is five kilometers away To ensure sustainability, the new plant has been installed with Solar, GPS system and flowmeters A team of Coca-Cola Pakistan visited Umerkot spent a day with the community and learnt about its rich culture and the challenges it faces with utmost resilience Megwarh is also the village of Marvi, who rose to fame after she featured in Coke Studio Season s 15 s song, Aayi Aayi Speaking about the experience, Aisha Sarwari, Senior Director Public Affairs said, “By coming to Marvi’s village we are commemorating her love for her land and her people But it is not easy to have a folklore without water Pakistani women struggle with access to clean drinking water nationwide, especially in arid areas Their children often fall sick to gastrointestinal diseases This here is us adding a very tiny drop to sustainably solving an ocean of an issue ” Speaking about the experience of hosting the Coca-Cola team at her village Chand Kumari a mother of three said My feet used to hurt carrying water-filled pitchers and walking for hours under harsh sun I am happy that I got to meet the people who have brought this source of clean drinking water closer to our homes ” P R G araj, Mashreq Pakistan collaborate to enable growth of digital banking in Pakistan KARACHI: Garaj, Pakistan's fastest-growing local cloud service provider has partnered with Mashreq Pakistan a part of Mashreq which is the leading financial institution in the MENA region for provisioning of data center hosting services to support Mashreq s ambition to revolutionize the digital banking landscape in the country The partnership marks the convergence of cutting-edge technology and visionary strategy, aimed at delivering unparalleled digital park services hosted in Pakistan s largest Tier-3 certified data center P R L ADIESFUND launched in Multan MultAn: LADIESFUND launched in Multan with a who s who of Southern Punjabi women LADIESFUND President Tara Uzra Dawood came from Karachi to grace the occasion, which was hosted by SOS Multan founder Mahnaz Fareed Sheikh at the beautiful SOS Children s Village Multan Inaugural LADIESFUND Multan members include include aforementioned Mahnaz Fareed Sheikh Rahat Bano Multanikar T I Dr Shafqat Abdullah Samtia Saima Faisal Filza Mumtaz Anam Tajjamul, Sarah Danish, Dr Mehnaz Khakwani, Rameen Anis, and Muneeza Manzoor Butt Sarah Danish founder of Sarah's Cakes created a stunning and delicious LADIESFUND Multan cake for the occasion which was cut and enjoyed by all She also gifted Ms Dawood a gift basket of her signature French maccarroons Multani Sohan Halwa and chocolate brownies with edible pictures of Ms Dawood on them P R
N D S AT K E Y B I Z S U M M I T
upied Palestine

KP UNVEILS APP TO FACILITATE FARMERS, ENSURE TRANSPARENT WHEAT PROCUREMENT

Al Baraka Bank hosts 2nd Webinar for ABG

collaboration with AlBB Egypt

Avicenna Medic al College officials appeared in PM&DC ’s disciplinar y committee

STAFF REPORT

The Pakistan Medical and Dental Council (PM&DC) conducted a disciplinary committee hearing concerning the tragic demise of a medical student of Avicenna Medical College Lahore

The hearing aims to investigate the circumstances surrounding the incident and to ensure accountability and adherence to the highest standards of medical ed-

ucation and student welfare On April 26 2024 a forth-year medical student at Avicenna Medical College identified as Mahnoor Nadeem was found deceased in their dormitory under circumstances that have raised significant concerns among students, faculty, and the public The initial reports suggest possible negligence

KARACHI

IESCO operations circles incharge will conduc t e - cour t via facebook live, telephonic ally today

ISLAMABAD: To provide suitable and proper forum to valuable IESCO Customers regarding redrassal of their electricity issues, online E-Kacharies are being held in IESCO region regularly and same are creating friendly relationship among IESCO and Customers By following same practice facebook E-Kacharies will held on 15th May 2024 (Wednesday) From 09:30 AM to 11:30 AM in all 06 Operational Circles of IESCO Operational Circles Incharge will attend customers complaints through Facebook live and telephone calls Islamabad Circle customers can participates in facebook live E-Kachary by using face book ID SE IESCO Islamabad E-Kachery Phone No 051-9260194, For Rawalpindi City Circle, SE IESCO Rawalpindi-City E-Kachery Phone No 051-9292675 For Rawalpindi Cantt Circle SE IESCO Rawalpindi-Cantt E-Kachery Phone No 051-9293048 For Attock Circle SE IESCO Attock E-Kachery Phone No 051-4950343, For Chakwal Circle, SE IESCO Chakwal E-Kachery Phone No 0543-668500, For Jhelum Circle, SE IESCO Jhelum E-Kachery Phone No 0544-9270377 Valuable customers are requested to mention

BISP chief urges empowerment of needy women

Chairperson Benazir Income Support Programme (BISP), Ms Rubina Khalid has underscored the importance of upholding the self-respect and dignity of BISP's deserving women Addressing senior management and officers during an introductory meeting at BISP HQs Chairperson BISP emphasized the need for unwavering commitment to providing essential services to BISP beneficiaries

Ms Rubina Khalid made it unequivocally clear that any instances of mismanagement or misconduct would not be tolerated under her leadership and strict action would be taken against individuals involved Secretary BISP Amer Ali Ahmad endorsed the Chairperson s statement reinforcing the commitment to accountability and efficiency within the organization

Additionally, Ms Khalid expressed her intention to personally visit BISP field offices to monitor the situation closely, emphasizing her hands-on approach to ensuring effective implementation of her directives Emphasizing transparency and empowerment,

Ms Rubina Khalid stressed the establishment of bank accounts for BISP beneficiaries allowing them to access their funds independently thus minimizing human intervention Furthermore Chairperson BISP emphasized the significance of vocational and technical training, particularly for the children of beneficiaries, as a means to alleviate their hardships and contribute positively to their families' well-being

07 NEWS Wednesday 15 May 2024 SLAMABAD PESHAWAR S TA F F R E P O R T T H E government of Khyber Pakhtunkhwa has introduced an online application aimed at aiding local farmers and suppliers ensuring fairness and transparency in the procurement of wheat According to the Minister for Food, Zahir Shah Toru, concerted efforts are underway to uphold fairness and transparency in the provincial government's wheat procurement initiative The Food Department KP has rolled out this online application to offer convenient services to local farmers and suppliers along with other provinces enabling them to furnish information about their available wheat to the Food Department These points were underscored by the Minister in a video statement released detailing about the app The minister elaborated that the online application clearly delineates all the requisites for wheat procurement for both farmers and suppliers Furthermore, Zahir Shah indicated that starting from May 18, farmers and suppliers from other provinces will be required to supply standard wheat to the relevant procurement centers in accordance with the standard operating procedures (SOPs) and Terms and conditions (ToRs) of the Food Department Prior to this wheat procurement would be conducted based on a quota system by purchasing centers Additionally, it was stated that wheat procurement has been initially started from local farmers in KP since May 7 of this month which will continue till May 17 with subsequent procurement extending to farmers and suppliers from other provinces Moreover, the provincial minister h i g h l i g h t e d t h a t F e d e r a l a n d P u n j a b G o v e r n m e n t a r e r e p l i c a t i n g t h e i r a pplication as per the directives of Prime Minister Shahbaz Sharif a move that i s l a u d a b l e a n d a s o u r c e o f p r i d e f o r t h e g o v e r n m e n t o f K h y b e r Pakhtunkhwa
KARACHI P R Al Baraka Bank (Pakistan) Limited organized 2nd Webinar for Al Baraka Group (ABG) Inter-Franchise Collaboration and Launch of the Trade Portal this time with Al Baraka Bank Egypt The Webinar focused on enhancing exports of Pakistan by connecting Pakistani exporters with Egyptian importers to facilitate diversification of Pakistan’s export to nontraditional markets This event witnessed top names from the business community Chairman of Trade Bodies & Chairman of Pakistan Stock Exchange On behalf of The State Bank of Pakistan Mr Ghulam Muhammad Abbasi – Director Islamic Banking also graced the event as Chief Guest Mr Houssem Ben Haj Amor – CEO Al Baraka Group (ABG) chaired the webinar and thanked Al Baraka Pakistan for arranging this webinar first with South Africa last year and this time with Al Baraka Bank Egypt He also shared that ABG s role here is to facilitate any cross-border transactions for customers within the 13 geographies where ABG Franchises exist Speaking at the event Mr Muhammad Atif Hanif CEO of Al Baraka Bank (Pakistan) Limited said Al Baraka Group (ABG) exists in 13 countries and the Inter-Franchise Collaboration through webinars and web trade portal are providing access to Pakistani Exporters to leading businesses in other franchise countries Such initiatives also offers to facilitate trade with high cost & time efficiency by using Al Baraka Services in both Countries We plan to Insha Allah replicate this with subsidiaries of Al Baraka Group in Turkey Bahrain Algeria Jordan and Tunisia in 2024 & 2025
I SLA M A BAD S TA F F R E P O R T
Inter-Franchise
adequate mental health support
in providing
and campus safety measures
P R easypaisa has signed an agreement with IGI Life and IGI General laying the foundation for digital distribution of various insurance-based products ensuring provision of ease and convenience to millions of Pakistanis The signing ceremony was attended by senior management of Telenor Microfinance Bank (TMB)/easypaisa & IGI General & IGI Life As part of the collaboration with IGI Life easypaisa users will be able to avail Vitality Rewards providing weekly rewards based on customer activity and health status, monitored through the Vitality App connected to their smartwatches, along with natural death cover ranging from PKR 500,000 to PKR 2,000,000 easypaisa par tners with IGI Life & IGI General to enhance insurance -based offerings RAJA ASAD ALI KHAN The first ever Chief minister Punjab Pink Games 2024 were held in Lahore under the auspices of Directorate General of Sports and youth affairs Department government of the Punjab The mega event was well participated by over 1200 emerging women athletics from 19 different Universities of Punjab which kicked off on 2nd of May and enthusiastically played till 5th of May The games which were contested in seven disciplines in pursuance of top honors were played at Nishter Park sports Complex Lahore The Show piece of the whole event was its grand and glamorous opening ceremony which was professionally organized and managed the memorable landmark function was held on the 2nd of May under profusely illuminated Punjab Stadium The Chief minister of Punjab Maryam Nazwaz was the chief guest, whose affable presence incited the morale of the female youth throughout the opening event The Punjab CM continuously encouraged the future sports stars by extending warm gestures of appreciations besides waving and applauding the Athletics The pleasurable atmosphere continuous till the end, before leaving CM Punjab went downstairs to meet the large mob of cheering participating athletics, She warmly exchange pleasantries and further allow them to have selfies photos with herself The inaugural ceremony was organized under traditional Olympics pattern the participating female players from all over Punjab introduced themselves to the Chief guest during a colorful and Impressive March past The Punjab minister for Sports Faisal Ayub Khokhar made an impressive welcome speech followed by traditional torch Rally by well known sports women of National Fame the torch went to the designated place before it was symbolically handed over by LCUW athletic Amutul Rehman to CM Punjab Maryum Nawaz who held it for some moments before passing it over to LCUW International foot ball player Anmol Hira who passed the torch for its final destination to Pakistan s Ex Taekwondo black Belt international Shumaila Nazeer who blew the big flame under rousing applause from large audience, this activity was immediately followed the official announcement by the CM Punjab declaring the Punjab Pink games open, a beautiful light show, pink games official Anthem and Banghra performance add further color to the festive ambience The final part of the evening was the address of the Chief minister Maryam Nawaz Sharif which was very comprehensive and precise She stated her government will expand the sports facilities and infrastructure to different part of the province to encourage and ensure the women participation in various sports She announced the increase in the prize money of the pink games form rupees five million to ten million The pink games grand activity was watched by elite of the city including ministers parliamentarians ex sportsmen sports organizers including Sr politician Pervaiz Rashid, Information Minister Uzma Bukhari, Finance Minister Mujtaba Shuja ur Rehman and Minister for Food Punjab Bilal Yasin The Chief Secretary Punjab Zahid Akhtar Zaman and IGP Punjab Dr Usman Anwar were prominent guest amongst other dignitaries who were present on the occasion The hosting of such a large scale extravaganza required a lot of hard work, devotion and dedication which included massive transportation, large scale accommodation meals and security arrangements besides player kits rehearsal and final rehearsal that all was indeed done diligently vigorously and selflessly by the untiring Director General Sports Punjab Pervaiz Iqbal No doubt the event was a brilliant success due to excellent leadership and team work of young and well educated sports minister Punjab Faisal Ayub Khokhar a true servant of the games Secretary Sports Punjab Muzaffar Khan Sial and energetic Director General sports Board Punjab Perviaz Iqbal and his hard working team It was a privilege for me to be master of the ceremony where I spoke about the performance of our late sports stalwart of international fame who emerged from different Universities of Lahore The first Punjab Chief minister pink games 2024 was a brilliant success and a fast historic step that would go long way to cast its shadow on the future of promotion of sports in Punjab The author is broadcaster/commentator and sports writer T h e f i r s t C h i e f M i n i s t e r P i n k G a m e s 2 0 2 4
NAVTTC, KCCI forge new partnership to enhance skills development K A r A c h I: Today marked a significant milestone in the realm of skills development as the Karachi Chamber of Commerce and Industry (KCCI) welcomed Ms Gulmina Bilal Ahmad, Chairperson of the National Vocational & Technical Training Commission (NAVTTC), to its premises The purpose of the visit was to solidify a collaborative effort aimed at addressing the gaps in skills development training under the Prime Minister s Youth Skill Development Program (PMYSDP) implemented by NAVTTC In a fruitful meeting, both parties expressed their commitment to fostering a new partnership geared towards promoting skills training initiatives P R S indh Govt plans to establish new industrial zones KArAchI: The Sindh Government is planning to establish new industrial zones across the province, mainly in Karachi, under a new industrialization policy to attract local and foreign investors and businessmen to boost up economic activities across the province Jam Ikramullah Dharejo Minister for Industries and Commerce Government of Sindh stated this while talking to business community at the Federal B Area Association of Trade and Industries (FBATI) here on Tuesday He further said industrial zones are being considered at various locations including Port Qasim to enhance industrial activities and employment opportunities in the province and commercial capital The provincial government is also planning to allocate funds in the Annual Development Plan (ADP) to develop the required infrastructure across the seven industrial zones in Karachi aimed at facilitating the existing industrialists in the province He said the provincial government under his ministry is working to introduce one-window operations for industrialists to resolve their issues immediately S TA F F R E P O R T ASF selec ts Pakistan’s Farhan Zaman for best junior coach of year award K A r A c h I: According to the announcement of the Asian Squash Federation (ASF) former Asian champion Farhan Zaman has been selected as the Junior Coach of the Year Award 2023 for the ASF Annual Award Under Farhan Zaman s coaching Pakistan won the World Junior Championship Asian Junior Team Championship and Asian Junior Championship in a short span of time While the national team won the silver medal in the British Junior Championship and silver medal in Asian Games The awards will be presented at forthcoming 22nd Asian Team Championship on16 June at Dalian China S P O R T S R E P O R T E R SRDB, NBP team up to boost sugarc ane farmers ’ income LAhOrE: A meeting of representatives of Sugarcane Research & Development Board (SRDB and National Bank of Pakistan was held under the Chairmanship of Chaudhary Muhammad Zaka Ashraf In the meeting it was discussed in detail to develop Sugarcane Mechanization Farm It was also discussed to take steps to help farmers to curtail the expenses for plantation of sugarcane through farm mechanization and increasing per acre yield of the farmers The meeting was also attended by M Ikram Ullalh Qadri, Divisional Head, and Adnan Manzoor Wing Head ABD National Bank of Pakistan Mr Sohail Shehzad Secretary General Pakistan Sugar Mills Association The meeting was aimed at strengthening the farmers, by making a business model of agriculture and agro-based economy and increasing their income and efficiency, which will play a pivotal role in the development of the country as well It was decided to further discuss the matter in the next meeting S P O R T S R E P O R T E R Eco -friendly c ar launched in K arachi KArAchI: At a simple, brief ceremony held at the premises of the SOS Technical Training Institute located on the Infaq Foundation campus in Korangi, Karachi, a new Eco-Friendly Car was launched on Tuesday 14th May 2024 Representing a collaboration between SOS TTI and Shell Pakistan the small slim single -seater car is strikingly named Thunderer It moved smoothly and well on its first short trial run after the ceremony Attended by both young men and women who are acquiring technical proficiency in one or more of the 12 specialist 6-month courses offered by SOS TTI for the benefit of youth from lowincome families residing in Korangi and other areas of Karachi, the ceremony was also attended by representatives of Shell Pakistan, SOS Children's Villages of Sindh and Infaq Foundation Welcoming guests, Comdr (r) Khalid Wasim, Principal, stated that the project was proposed by Shell Pakistan Ltd and an MOU was signed with SOS TTI in March, 2023 P R
CORPORATE CORNER
name
while launching the compliant S TA F F R E P O R T Bank of Khyber (BoK) has signed an agreement with Shaukat Khanum Memorial Cancer Hospital (SKMCH) for access to top-tier Medical Care and Services at discounted rates for its employees and their families The official agreement was signed by Muhammad Asif Group Head HRD BoK and Hussain Ahmad Qadri, Director Business Operations SKMCH in the presence of senior executives from both organisations Under the partnership SKMCH will offer BoK employees and their dependents access to a comprehensive range of outpatient department (OPD) services, including laboratory work at discounted rates To avail these benefits, BoK employees can simply present valid identification such as their official Bank ID cards or digital credentials, when seeking care at SKMCH P R
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quality productive forces and its implications for the transformative collaboration between China and Pakistan

According to Ambassador Zaidong, this concept, introduced by Chinese President Xi Jinping in September 2023, underscores the fusion of innovation technology and industry to drive sustain-

Opposition leader calls Kh Asif’s remarks about Ayub Khan ‘unwarranted’

ISLAMABAD S ta f f R e p o R t Leader of the Opposition in the National Assembly Omar Ayub called on Tuesday Defense Minister Khawaja Asif ’s “personal remarks about his grandfather Field Marshal Ayub Khan – unwarranted Ayub Khan is part of history and it is up to us how we see actions [of history] or what we do with them the PTI leader stated while speaking on the floor of the National Assembly, asserting that the minister criticized his family in a language unsuited to the parliament A day earlier, Khawaja Asif supported the opposition’s suggestion to hold trials for those involved in subverting the Constitution under Article 6 starting with former dictator Ayub Khan Ayub Khan was the first to violate his oath He toppled a democratic government He is the root cause of all the chaos that we are facing today Therefore, Article 6 should be invoked; his dead body should be exhumed from the grave and be hanged,” the minister asserted The opposition leader responded that it was a historic fact that martial law was imposed by Iskander Mirza Following Ayub’s repeated condemnation of Asif s remarks NA Speaker Ayaz Sadiq intervened to tell the PTI leader that his speech was going in the wrong direction At the outset of Tuesday s proceedings PTI leader Asad Qaiser denounced Asif s behaviour towards Sadiq I condemn how he addressed you Emphasizing that the role of the NA speaker was “highly respectable”, the PTI leader said Asif should have “shown tolerance” as he has been in the house for years “He is an 80-year-old elderly man [so] he should at least have some etiquette he added PTI leader Ali Muhammad Khan touched up martial laws imposed by generals Pervez Musharraf and Zia-ulHaq He spoke of Nawaz Sharif s arrest and exile the hanging of PPP founder Zulfikar Ali Bhutto, and the assassinations of former premiers Benazir Bhutto and Liaquat Ali Khan

Looking forward to 2024, coinciding with the 75th anniversary of the founding of the People’s Republic of

two-member bench comprising IHC Chief Justice Aamer Farooq and Justice Tariq Mehmood Jahangiri concluded arguments before reserving the verdict Amjad Parvez, the National Accountability Bureau s special prosecutor, contended that the funds should have been remitted to the Government of Pakistan as per the Supreme Court’s ruling declaring the money state property

The amount identified by the Supreme Court was erroneously deposited into another account Parvez asserted

He also highlighted that the Asset Recovery Unit credited the success of securing the funds to the prime minister Additionally, Parvez emphasized that the transfer of the funds required permission from the National Crime Agency as per documented procedures

In response to queries from the bench Parvez was pressed for evidence regarding out-of-court settlements and the legality of transactions preceding official notifications

The prosecutor affirmed that the funds were transferred following a confidentiality agreement dismissing suggestions that the agree-

The

natural resources highlighting its potential for development

Aligning Pakistan s 5Es framework with China s vision can unlock its full potential and chart a path toward self-reliance and sustainable growth Central to China-Pakistan collaboration is the successful implementation of CPEC Phase One yielding dividends in renewable energy information technology and biotechnology As CPEC enters Phase Two both nations are committed to elevating the corridor, leveraging Pakistan s advantages for self-reliance and sustainable growth

ment sanctioned depositing funds into the Supreme Court s account Challenged on the legitimacy of the confidentiality agreement and its association with Imran Khan Parvez underscored the PTI founder ’s role as the head of the Assets Recovery Unit Furthermore Parvez alleged the transfer of land to Zulfi Bukhari, a close aide of Imran Khan, during correspondence between the Asset Recovery Unit and the NCA The judge inquired about the registration timeline of Al-Qadir Trust prompting the revelation of interesting circumstances surrounding its establishment Imran Khan addressing journalists in Rawalpindi s Adiala jail, clarified that the NCA seized the funds following suspicions of irregular transactions, not money laundering, during his tenure as prime minister

Allegations suggest the defendants facilitated the transfer of £190 million to the property tycoon securing land for an educational institute in exchange As investigations unfold NAB officials have intensified scrutiny, converting inquiries into fullfledged investigations, citing compelling evidence of impropriety in

pRayeR timingS FA J R S U N R I S E Z U H R A S R M AG H R I B S H A 4 : 3 0 5 0 7 1 : 3 0 5 : 1 5 6 : 5 0 8 : 4 5 Wednesday 15 May 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 PR OFIT n i S m a R i a z K ALPAY, a Pakistani buy-nowpay-later (BNPL) fintech platform, has said that it has successfully closed an early-stage funding round of over a million dollars KalPay s round would be the first funding announcement for the year The recent round was led by Orbit Startups and joined by investors including Super Capital VC and Bansea, among others The startup did not disclose the exact amount that was raised but disclosed that this amount was over $1 million Shershah Hassan the founder and CEO of Kalpay further disclosed that the funding was a combination of both equity and debt He added that they were able to raise the target amount, if debt financing was also taken into account According to the founder, KalPay’s last financing round was closed in January 2022 with On Deck and Pinetree partners as investors The startup operates in three verticals which include BNPL for online shopping and the Rasayi vertical under which the startup provides financing for phones, travel and productive digital assets The third vertical is Taleem under which KalPay provides education financing Hassan told Profit that they were working with multiple financial institutions to finance these loans for the consumers, adding further that one-third of the new funding would go towards financing Hassan said that KalPay has competitors in all of the verticals they operate in however the industry itself is at a nascent stage while the market was big enough to have room for multiple companies The high rates have certainly affected our business as our lending products get more expensive for the end users ” he added commenting on how things have been tough during the ongoing economic downturn Hassan further explained that KalPay raised the current round in tranches, rather than in one go, considering the difficult macroeconomic environment “We focused on investors whose values aligned with our impact-focused vision I think investors are still skeptical about the Pakistani market and it might take over a year before things get back to normal he said On the sustainability front, Hassan shared that KalPay observes positive unit economics, having already reached EBITDA-level profitability adding that the current investment will be used for scaling KalPay s operations He said Now that we are able to cover the operating costs we will be scaling rapidly across all our verticals but with a specific focus on impact-based use cases Some important strategic partnerships are in process, which will really help us take things up a notch ” The company has entered into partnerships with companies such as Foodpanda and Careem as well as educational institutions such as LUMS and UCP Hassan claims that these strategic partnerships have played a huge role in KalPay’s growth, especially within B2B2C for sales F U N D I N G D R O U G H T S E E S S M A L L R E S P I T E A S K A L PAY R A I S E S O V E R $ 1 M N I N E A R LY - S TA G E F U N D I N G ISLAMABAD S ta f f C o R R e S p o n d e n t China will provide unwavering support for Pakistan s reform agenda, said Chinese Ambassador to Pakistan Jiang Zaidong Ambassador Zaidong noted Pakistan s ongoing reforms and the orderly formation of a new government signaling renewed focus on national development He expressed China s readiness to work with Pakistan to implement important consensus reached between their leadership It aimed at promoting integration of CPEC s Five Corridors and Pakistan s 5Es framework fostering a closer China-Pakistan community and opening a future of peace, development, and winwin cooperation Ambassador Jiang Zaidong, in an article elucidated on the concept of “new
able development and prosperity At its core, the vision recognises innovation as the catalyst for progress in the 21st century President Xi Jinping s advocacy for integrating scientific and technological resources stresses leveraging advancements in these fields to enhance productivity and spur the emergence of new industries and economic sectors Ambassador
stated “New q u a l i t y p r o d u c t i v e f o r c e s a r e c h a r a ct e r i s e d b y i n n o v a t i o n ; t h e k e y l i e s i n h i g h q u a l i t y t h e e s s e n c e i s a d v a n c e d
Zaidong
productivity ” This approach aligns with China’s pursuit of high-quality development evident in its resilient economy which surpassed 126 trillion yuan ($17 51 trillion) in GDP in 2023 with a growth rate of 5 2%, ranking among the world s major economies
China Ambassador
his article
China
strategic focus
a target GDP growth rate of around 5%, the emphasis remains on modernising the industrial sector and advancing new quality productive forces China s role as a global economic powerhouse and agent of positive change is underscored by Ambassador Zaidong
Zaidong in
outlined
s
With
envisioned advancements not only bolster China’s economy but also offer opportunities for international cooperation and mutual prosperity with Pakistan recognised as our iron-clad friend For Pakistan this partnership holds profound implications Ambassador Jiang underscored the country s strategic importance, demographic dividend, and abundant
ISLAMABAD
ta f f R e p o R t T h e E l e c t i o n C o m m i s s i o n o f P a k i s t a n ( E C P ) h a s r a i s e d
Pakistan Tehreek-e-Insaf ’s
03
highlighted PTI s failu r e t o h o l d i n t r a - p a r t y e l e c t i o n s a s m a n d a t e d b y S e c t i o n 208 (1) of the Elections Act for the past five years leaving t h e p a r t y w i t h o u t a p r o p e r o rg a n i z a t i o n a l s t r u c t u r e A d d it i o n a l l y, P T I d i d n o t s u b m i t t h e n e c e s s a r y d o c u m e n t s f o r r e g i s t r a t i o n a s r e q u i r e d b y S e c t i o n 2 0 2 ( 5 ) , a s t h e p a r t y has yet to provide documentation regarding its intra-party e l e c t i o n s Furthermore the ECP questioned the compliance of PTI s general body meeting on January 31 2024 with Section 208 (3) regulations PTI s appointment of the federal chief election commissioner for the intra-party elections via the general body resolution was scrutinized, as Section 208 (3) specifies the formation of an electoral college by the party for such appointments A c c o r d i n g t o P T I s c o n s t i t u t i o n t h e n a t i o n a l c o u n c i l i s t a s k e d w i t h a p p o i n t i n g t h e f e d e r a l c h i e f e l e c t i o n c o mm i s s i o n e r u p o n r e c o m m e n d a t i o n s f r o m t h e C E C T h e E C P s o u g h t c l a r i f i c a t i o n f r o m P T I r e g a r d i n g t h e s t a t u s o f t h e g e n e r a l b o d y a n d t h e f e d e r a l c h i e f e l e c t i o n c o m m i ss i o n e r, p a r t i c u l a r l y c o n c e r n i n g t h e a p p o i n t m e n t o f t h e c h i e f o rg a n i z e r b y t h e g e n e r a l b o d y w h o s u b s e q u e n t l y d e s i g n a t e d t h e f e d e r a l c h i e f e l e c t i o n c o m m i s s i o n e r T h e E C P q u e s t i o n e d t h e a u t h o r i t y o f t h e g e n e r a l b o d y t o a pp o i n t b o t h t h e c h i e f o rg a n i z e r a n d t h e f e d e r a l c h i e f e l e ct i o n c o m m i s s i o n e r In addition, the ECP requested PTI’s response to five applications related to the intra-party elections, questioning why no action should be taken against the party under Section 208 (5) China to provide unwavering suppor t for Pak istan’s reform agenda: Ambassador Zaidong ECP raises seven objec tions regarding PTI intra-par ty elec tions SIC formally nominates Sheikh Waqas Akram for PAC chairmanship ISLAMABAD S ta f f R e p o R t The Sunni Ittehad Council (SIC) on Tuesday formally nominated Sheikh Waqas Akram for the chairmanship of the National Assembly s Public Accounts Committee (PAC) According to the details, SIC chief Hamid Raza formally apprised the National Assembly (NA) Secretariat about the party’s nominee for the slot Sheikh Waqas Akram has been nominated for the chairmanship of the PAC Hamid Raza told the NA secretariat It is pertinent to mention here that the slot became a bone of contention and triggered a tug-of-war between senior Pakistan Tehreek-e-Insaf (PTI) members as Sher Afzal Marwat who was earlier named by the party openly critisised the party leadership g Ka l Pa y, w h i c h c l a i m s E B I T D A p r o f i t a b i l i t y, s a y s t h a t n e w r o u n d w a s a c o m b i n a t i o n o f e q u i t y a n d d e b t I t i s f i r s t Pa k i s t a n i s t a r t u p t o a n n o u n c e a r o u n d i n 2 0 2 4 ISLAMABAD S ta f f R e p o R t T h e I s l a m a b a d H i g h C o u r t ( I H C ) d e l i b e r a t e d o n Tu e s d a y o v e r P a k i s t a n Te h r e e k - e - I n s a f ( P T I ) f o u n d e r I m r a n K h a n s b a i l p e t i t i o n i n t h e £ 1 9 0 m i l l i o n N a t i o n a l C r i m e A g e n c y ( N C A ) s e t t l e m e n t r e f e r e n c e , u l t i m a t e l y r es e r v i n g i t s v e r d i c t
S
seven objections regarding the
(PTI) intra-party elections conducted on March
Among the objections the ECP
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T h e £ 1 9 0 m i l l i o n s e t t l e m e n t c a s e i nv o l v e s c o r r u p t i o n c h a rg e s a g a i n s t K h a n h i s w i f e B u s h r a B i b i a n d o t h e r P T I l e a d e r s l i n k e d t o a s e t t l e m e n t w i t h a p r o p e r t y t y c o o n r e p o r t e d l y c a u s i n g s u b s t a n t i a l l o s s e s t o t h e n a t i o n a l t r e a s u r
the recovery process of funds from the UK crime agency IHC reser ves verdic t on Imran K han’s bail plea in £190m reference ISLAMABAD S ta f f C o R R e S p o n d e n t Prime Minister Shehbaz Sharif on Tuesday directed the authorities concerned to ensure routing a proportion of country's imports particularly related to the government through the Gwadar Port The prime minister made this landmark decision with a view to fully operationalise the Gwadar Port He was chairing a high level meeting on the projects under the China Pakistan Economic Corridor (CPEC) and the Chinese investments The prime minister instructed all the ministries to enhance collaboration for swift execution of the CPEC s second phase and warned against any laxity by the ministries and government departments Instructing the provision of foolproof security to the Chinese workers he said the promotion of trade and commerce ties with time-tested friend China was welcoming He told the meeting that Pakistan-China partnership was on the highest ever level, so the relevant officers and departments should strive for the positive outcome of this relationship Federal ministers Ahsan Iqbal, Muhammad Aurangzeb Jam Kamal Khan Ahad Khan Cheema Rana Tanveer Hussain Qaiser Ahmed Sheikh Sardar Awais Khan Leghari Dr Musaddik Malik and Abdul Aleem Khan SAPM Tariq Fatemi, PM s Coordinator Rana Ehsan Afzal and relevant senior officers attended the meeting The provincial chief secretaries joined the meeting via video link PM direc ts routing propor tion of countr y ’s impor ts through Gwadar Por t IHC halts gov t’s plan to block SIMs of non-filers ISLAMABAD S ta f f R e p o R t The Islamabad High Court (IHC) intervened on Tuesday, restraining the government from proceeding with its decision to block the SIM cards of non-filers Chief Justice Aamer Farooq of the IHC issued a stay order until May 27 following the court s consideration of a petition filed by a mobile phone company challenging the government s directive This development occurred shortly after the Federal Board of Revenue (FBR) and telecom operators reached an agreement to block SIMs of non-filers as part of the government s efforts to combat tax evasion and improve revenue amid challenging economic conditions The FBR announced that telecom companies would manually block SIMs in small batches until their systems were fully capable of automating the process The initial batch consisting of 5 000 non-filers was communicated to the operators, with more batches to follow daily In response, telecom operators began sending notifications to non-filers regarding the impending SIM blockage for informational purposes Discussions between the FBR and telecom operators ensued as a deadlock emerged after the operators resisted implementing the FBR’s directive to block 500,000 SIMs of individuals not listed as active taxpayers but required to file income tax returns for the Tax Year 2023 During the hearing counsel for the petitioner Salman Akram Raja, argued that the amendment to the law contradicted Article 18 of the Constitution, which guarantees the freedom to conduct business Raja emphasized that legislation cannot infringe upon fundamental rights enshrined in the Constitution He further contended that the government lacked the authority to block mobile phone SIMs by amending the law, warning that blocking over 500,000 SIMs would result in an annual loss of Rs1 billion
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