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WE ARE WELL AWARE OF OUR CONSTITUTIONAL LIMITS, SAYS COAS

RISALPUR/RAWALPINDI

S TA F F R

Noting that Article 19 of the Constitution clearly defines the limits of freedom of speech and expression of opinion” the army chief said “Those who flout the clear restrictions imposed on freedom of expression in the Constitution cannot point fingers at others

Gen Munir highlighted that the PAF had always lived up to the expectations of the nation He noted that without a strong air force a country was at the mercy of any aggressor

The army chief lauded the PAF for patrolling the airspace in all kinds of difficulties with unparalleled bravery and professionalism , terming the shooting down of Indian aircraft for violating airspace in February 2019 as a great example of the same

Addressing the cadets he said You are the centre of our hopes the guardian of the skies and the guarantors of regional unity ” COAS Munir said that the cadets were expected to “lead a life adorned with the virtues of character courage and competence adding that their conduct would not only be extraordinary for their personal ethics but also for the respected institution” “You will never hesitate to give sacrifice for the defence, honour and dignity of the motherland ” the army chief stated He emphasised that the military leadership expected the cadets to always uphold our nation s best spirit, the professional expertise of the institution and the eternal tradition of bravery” “Always remember that the truth is

powerful while falsehood can never be powerful,” Gen Munir stated “Be like Rashid Minhas Sarfraz Rafiqui and M M Alam who presented their services and lives for the protection of the homeland s dignity he added Remain committed to the responsibility being given to you and remain loyal to the state of Pakistan,” the COAS said Gen Munir highlighted that the arms race posed a risk of disturbing the region s balance of power Specific technologies including artificial intelligence, robotics and quantum computing, are changing the use of air power as well as expanding its scope,” he noted On the ongoing Israeli offensive on

Gaza, which has killed more than 34,000 Palestinians, the army chief said the conflict was the “latest example of the sufferings that wars can bring”

He said the indiscriminate killing of elderly people women and children in Gaza was proof that violence was rising in the world

About India-occupied Kashmir, COAS Munir asserted that India had maintained its illegal occupation of the region He said the “silence of the entire world about the ongoing Indian aggression in Kashmir cannot suppress the voice of freedom there

The army chief vowed that Pakistan would continue to provide “moral, political and diplomatic support to our Kashmir brothers” PA F R I S A L P U R A C A D E M Y

The Pakistan Air Force Academy Asghar Khan is an accredited three-year military academy that provides undergraduate education to officer candidates for the Pakistan Air Force (PAF)

The academy was created in 1910 and was a former airfield of the Royal Flying Corps and later the Royal Air Force It officially became the airfield of the PAF on 15 August 1947 On 13 April 1948, Quaid-e-Azam Muhammad Ali Jinnah elevated the school’s status to that of a flying college On 21 January 1967 the college was upgraded to the status of an academy by former president Ayub Khan

PM credits PDM govt’s tireless effor ts for decrease in inflation

g FUND'S TEAM TO SPEND TWO WEEKS IN PAKISTAN, FOCUSING ON MACROECONOMIC AND FISCAL FRAMEWORK FOR NEXT 3-4 YEARS

Prime Minister Muhammad Shehbaz

Sharif said on Thursday that downward trend in inflation is the sign of economic improvement and a welcoming news for the masses saying the development was outcome of the efforts of the Pakistan Democratic Movement (PDM) led 16-month government which was carried forward by the interim government

As per a statement released by the Prime Minister s Office on Thursday the premier said: Reduction in inflation is the first goal and with the grace of Allah, people will get more relief in economic activities ” According to the Pakistan Bureau of Statistics (PBS) the pace of price increases decelerated to 17 3% in April compared to the same period the previous year, marking the lowest rate in two years and nearing the point from which prices initially surged Moreover the decline in inflation surpassed projections from the Ministry of Finance, which had estimated a range of 18 5 to 19 5 per cent This marked the fourth consecutive month of downward trajectory in inflation rates

The Premier continued that that the recent reduction in petrol prices will also give relief to the people, adding that the prices of oil have come down in the global market Shehbaz directed provincial governments to ensure reduction in prices of daily-use items commen-

surate with reduction in petroleum prices and enforce official food item prices “By the grace of Allah, by continuing in this direction the lives of the people will improve further ” he maintained adding that his government is leaving no stone unturned in trying to get maximum relief to the people at the earliest Notably, food inflation decelerated in both urban and rural areas with urban centers experiencing a notable slowdown to 11 3 per cent and rural areas dipping below the single-digit mark to 9 7 per cent, according to the PBS However, core inflation, excluding energy and food items marginally increased to 13 1 per cent in urban areas but dropped below 20 per cent in rural regions This represents an approximate 6 per cent reduction compared to policy rates

Despite these developments, double-digit price hikes persisted across all commodity groups ex-

for alcoholic beverages tobacco, and

bilateral meetings with leaders and foreign ministers participating in the summit Pakistan will also underline the need to find collective solutions to challenges confronting Muslim Ummah she added Highlighting other diplomatic engagements during the previous week, she informed the media of the visit of US Undersecretary for Political Affairs John Bass and Principal Deputy Assistant Secretary Elizabeth Horst to Pakistan and their meeting with Acting Foreign Secretary Ambassador Rahim Hayat Qureshi Two sides discussed various aspects of bilateral cooperation and underscored the importance of sustained engagement through various dialogue processes, including areas of trade, investment, energy, health, education, agriculture, and climate change Pakistan will continue to engage with the United States to enhance bilateral cooperation and understanding the spokesperson remarked Commenting on the Gaza situation, Spokesperson Baloch said the Israeli occupation forces continued to take illegal steps in the West Bank in violation of international law “Pakistan strongly condemns the rising violations of human rights by Israel and the increasing number of illegal Israeli settlements in the West Bank Israel s actions constitute a breach of international law, including humanitarian laws and United Nations and OIC resolutions These acts also undermine any prospects of a two-state solution,” she remarked She called for the international community’s efforts to prevent Israel from committing the egregious crimes in Palestine and the UN Security Council to impose an immediate prominent ceasefire urge Israel to lift the siege of Gaza, facilitate humanitarian assistance, protect the civilians, and hold the perpetrators of the genocide accountable Reiterating Pakistan’s full support to the people of Palestine she called for the establishment of an independent viable and contiguous Palestinian state with pre-1967 borders and Quds Al-Sharif as its capital

PTI

In par tnership with Profit Fr i d a y, 3 M a y, 2 0 2 4 I | 2 4 S h a w w a l , 1 4 4 5 R s 2 0 0 0 | Vo l X I V N o 3 0 3 I 8 Pa g e s I Ka r a c h i E d i t i o n
PR OFIT M O N I T O R I N G D E S K An International Monetary Fund (IMF) team will visit Pakistan to finalize a $6 to $8 billion Extended Fund Facility (EFF) bailout programme in mid-May The team, that is to spend around two weeks in the country, will outline the Pakistan’s macroeconomic and fiscal framework for the next three to four years Pakistan plans to present its 2024-25 budget in early June possibly including stringent measures for fiscal stabilisation This follows Pakistan s formal request to the IMF last month, with discussions expected to determine the program’s size and timeframe IMF’s support for Pakistan’s reforms, emphasized by IMF officials aligns with efforts to accelerate reforms and ensure growth potential Recent engagements including Prime Minister Shehbaz Sharif s meeting with IMF s Georgieva highlight Pakistan s proactive approach Fiscal measures, such as considering pensions in the tax net, reflect broader strategies for fiscal sustainability The IMF’s proposals likely to include taxation measures and expenditure curtailment will be crucial for Pakistan s fiscal consolidation Pakistan may request augmentation through climate finance similar to Bangladesh, and Egypt s recent program size increase to $8 billion sets a precedent Overall, the upcoming discussions signify a crucial phase for Pakistan’s economic trajectory emphasizing fiscal stability reforms and strategic financial partnerships for resilient growth P a k i s t a n p r e p a r e s f o r I M F ’ s n e x t b a i l o u t p r o g r a m m e
E P O R T
H I E F of Army Staff (COAS) General Asim Munir on Thursday said that the military was well aware of its constitutional limits and expected others to uphold the Constitution Addressing the passing-out parade of cadets at Pakistan Air
the
guest
well
our constitutional limits
expect
uphold
Constitution
C
Force (PAF) Asghar Khan Academy in Risalpur as
chief
he said “We are
aware of
and
others to
the
g V O W S PA K I S TA N TO C O N T I N U E P R O V I D I N G M O R A L, P O L I T I C A L A N D D I P LO M AT I C S U P P O R T TO K A S H M I R I B R E T H R E N g S AY S T R U T H I S P O W E R F U L W H I L E FA L S E H O O D C A N N E V E R B E P O W E R F U L ISLAMABAD S TA F F R E P O R T
cent
the minimum wheat support price of Rs3,900 per 40 kg However the decision to allow wheat imports by the caretaker government was criticised for benefiting urban consumers while disadvantaging farmers Until the end of May, the private sector imported 3 5 million metric tons of wheat amounting to $1 1 billion Despite the overall decrease the average inflation rate remained slightly below 26 per cent surpassing the annual inflation target of 21 per cent The IMF, in response to the slowing inflation rate projected at 12 7 per cent for the next fiscal year continues to advocate for high interest rates in Pakistan
ISLAMABAD S TA F F R E P O R T Presenting a pathway towards true democracy and political and economic stability in the country, Pakistan Tehreek-e-Insaf (PTI) demanded the formation of a judicial commission to probe the mother of all riggings took place in the general elections 2024 to give power to the true public representatives i e , PTI, besides seeking resignation from Chief Election Commissioner (CEC) for conducting the most controversial elections in Pakistan’s history PTI leadership has issued a whitepaper on the mega polls robbery in the general elections of 2024 spanning from the pre-poll phase to the culmination in the government Official Gazette Notification, exposing the corrupt practices including alteration of final results through fudging forgery and manipulation of Form-47 Speaking at the press conference along with PTI Secretary General and Opposition Leader in National Assembly Omar Ayub Khan and Leader of the Opposition in Senate Shibli Faraz along with Brigadier Musaddiq Abbasi PTI Chairman Barrister Gohar Ali Khan said that the press conference was on one-point agenda and that s mega elections
took place in general elections 2024
visibly
victory
defeat
stolen
of the public at large, based on the results recorded in Form-45 and should fix their long-pending petition for hearing without any further delay In this regard he demanded that an independent judicial commission should be established to thoroughly investigate the entire electoral process, identifying those involved in acts of social injustice, corruption, and fraudulent practices that undermine the public mandate Moreover Gohar stressed that the JC should also be tasked with recommending necessary electoral reforms aimed at enhancing transparency, promoting fair play, and ensuring meritocracy within the electoral system with the purpose to minimize opportunities
cept
perishable foods Nonperishable goods saw a single-digit increase at 9 7 per cent, while perishable goods inflation remained below 7 per cent The decline in wheat product prices by 10 5 per
and wheat by 9 7 per cent in April was attributed to sales below
rigging
PTI Chairman stated that PTI’s whitepaper based on irrefutable facts wherein it was
showed that PTI s candidates clear
was converted into
He demanded that the Supreme Court (SC) should act immediately to reclaim the
mandate
for manipulation drawing inspiration from the practices observed in developed democratic countries
PTI Chairman stated that PTI secured 180 seats in the National Assembly as per form 45 despite the fact that Imran Khan had been jailed in flimsy and baseless and politically-motivated cases
Chairman stated that all national and international media and neutral elections observers admitted the glaring rigging and tampering of elections’ results He said that PTI filed petitions regarding reserved seats demanding ECP to quickly decide their petitions as PTI filed 158 petitions across the country Gohar recalled that different coercive tactics and steps were taken to influence the general elections as PTI was deprived of a level playing field nominations papers of PTI’s candidates were rejected on flimsy grounds besides snatching the party electoral symbol to create problems for voters to identify PTI s nominees He stated that all these nefarious plots did not work, as the people recognized the PTI-backed candidates’ symbols and voted them in massive scale However PTI Chairman lamented that the results were not consolidated on the basis of form-45 and tampered the results ‘CEC should resign immediately for undermining people’s mandate’ Speaking on the occasion Omar Ayub Khan demanded that CEC should resign immediately for allegedly acting as a facilitator in undermining the people s mandate and conducting the most controversial elections in Pakistan’s history, who openly betrayed the public trust by converting PTI’s rival 100 votes into 1 000 through tampering results P T I i s s u e s w h i t e p a p e r o n ‘ m e g a p o l l s r o b b e r y ’ i n G E - 2 4 Pakistan won’t provide militar y bases to any foreign countr y: FO ISLAMABAD S TA F F R E P O R T Pakistan on Thursday categorically rejected the possibility of providing military bases to any foreign government, with the Foreign Ministry declaring that the country has no plans to offer bases to any foreign government or military directed against anyone These speculations are completely unfounded and there is no truth in it We reject it and there is absolutely no basis for these social media speculations,” Foreign Office spokesperson Mumtaz Zahra Baloch while addressing her weekly briefing in Islamabad on Thursday The FO said that Pakistan has good relations with both the US as well as Iran and will take forward ties with these countries keeping in view our national interest She said the PakistanChina-Iran tripartite talks are very important though no date has yet been set for this dialogue The Foreign Office reiterated that the ongoing Indian campaign of attacking and seizing the properties of the Kashmiris in the Indian Illegally Occupied Jammu and Kashmir (IIOJK) was destined to fail just like its colonial strategies and harsh statements Pakistan strongly condemns India s continued campaign of attacking and seizing the properties of Kashmiris in Indian Illegally Occupied Jammu and Kashmir The reality is that the harsh statements and colonial strategies have been unsuccessful in quelling the determination of Kashmiris for freedom and these measures are destined to face similar outcomes in the future, Mumtaz Baloch said She reiterated Pakistan s determination to continue to extending political, diplomatic, and moral support to Kashmiris for the just and peaceful settlement of the Jammu and Kashmir dispute in accordance with the UN Security Council s resolutions As different parts of the IIOJK recently witnessed heavy rains, flash floods, and landslides, resulting in loss of life and property, the spokesperson expressed sympathies with the victims of these national calamities and prayed for the eternal peace of the deceased and wished speedy recovery to the injured Apprising the media of the ongoing visit of Deputy Prime Minister and Foreign Minister Ishaq Dar to The Gambia to attend the Council of Foreign Ministers and the OIC Summit, the spokesperson said that
Summit, Pakistan
highlight
ongoing genocide
Gaza
right
self-determination
imperatives
solidarity
unity
Muslim
rising Islamophobia issues
climate change terrorism
other contemporary global challenges
the sidelines,
deputy prime minister
minister
hold
at the
would
the
in
the
to
of Kashmiris people the
of
and
of the
Ummah
of
and
On
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and foreign
would

EXPERTS CALL FOR TARGETED POLICY MEASURES TO UNLOCK PAKISTAN’S RENEWABLE ENERGY POTENTIAL

of green loans particularly for technologies like solar and wind Senator Seemi Ezdi emphasised the urgent need for a just transition to sustainable transportation and energy sources, particularly focusing on Electric Vehicles (EVs) Ahsan Gaylani (UNIDO) highlighted product standardization and reduced taxation to encourage investment From academia participation from multiple universities highlighted the importance of financing for greener technology development and implementation Dr Azir Anwar Khan from the University of Lahore underscored incentives and the need for smoother financing options LUMS Energy Institute s Dr Naveed Arshad raised concerns about high-interest rates on EVs and advocated for greater climate financing

USPCAS-E, NUST’s Dr Qazmi emphasised market flexibility and in-house Indigenization for cost-effective solutions suggesting positive incentives for green financing

Rashid Azim addressed banking restrictions, while Xiang Yang (China Study Center, NUST) highlighted Pakistan s lag in green technology adoption Dr Sharjeel Sulehri (RE GEN) stressed changing national attitudes towards energy conservation while Ali Moin discussed the affordability

PSX records third successive decline af ter SBP maintains key rate

The SBP’s decision to maintain the status quo by keeping the key policy rate at 22% for the seventh consecutive policy meeting reflects a strategic approach to maintaining significant positive real interest rates This strategy aims to curb inflation and align it within the target range of 5-7% by September 2025

It was further noted that April’s inflation stood at 17 3% year-on-year (YoY) and experienced a negative 0 4% month-on-month (MoM) trend indicating a downward trajectory that could pave the way for future rate cuts

Recent data from the Pakistan Bureau of Statistics (PBS) revealed a slowdown in consumer price inflation to 17 3% in April reinforcing the market s correction trend Despite market corrections and concerns, Farooq highlighted some positive traction in cement stocks following the inflation figures release He

emphasized the market’s affordability and anticipated earnings recovery for cyclical sectors as the economy gradually rebounds In summary the PSX s bearish trend and market corrections reflect a cautious stance amid economic uncertainties, with a focus on policy stability and inflation management shaping mar-

Govt grapples with massive losses due to Iranian oil smuggling

where an estimated 2 2 to 2 4 million people rely on this illicit trade for their livelihoods This dependence underscores the complex interplay between economic incentives, regional dynamics, and regulatory challenges

routes

and Rakhshan divisions

and distribution with smuggled products primarily sold at unauthorized roadside petrol outlets Despite periodic crackdowns, smuggling activities have rebounded post-elections necessitating a coordinated response from enforcement agencies The socio-economic impact is significant, particularly in Balochistan,

Addressing Iranian oil smuggling requires a multifaceted approach including strengthened border control measures targeted enforcement actions against smuggling networks, regulatory reforms, and enhanced collaboration among law enforcement agencies and international partners

Such measures are crucial to mitigate revenue losses uphold regulatory integrity and safeguard Pakistan s economic interests

Friday 3 May 2024 | KARACHI 02 NEWS ISLAMABAD s ta f f r e p o r t E X P E RT S have urged the government and the State Bank of Pakistan (SBP) to implement targeted policy measures to help unlock the potential of renewable energy financing and drive the country’s transition towards sustainable and renewable sources The appeal was made during the launch of a new study conducted by the Islamabad-based think tank Policy Research Institute for Equitable Development (PRIED), in collaboration with the German think tank, Agora Energiewende The study titled “Facilitating Green Loans for Sustainable Energy Transition” has underscored the existing financing limitations for renewable energy projects in Pakistan The study emphasized the imperative for the government and financial institutions to devise concrete strategies to bridge the delivery gap in financing green energy initiatives “While green lending options are available their implementation and access to them is not always consistent and constant, said the study The study also highlighted the reluctance within Pakistan’s banking sector to engage in green product financing despite the country being among the top ten nations affected by climate change It emphasised the urgent need for concerted efforts, including priority lending and financing of green energy projects, to achieve national targets of producing 60% energy from renewable sources and running 30 percent of vehicles on electric engines by 2030 Finance is poised to play a pivotal role in meeting these targets and leveraging our energy transition momentum,” stated the study Speaking on the occasion Naila Saleh Project Manager at Agora Energiewende expressed concern over the shortfall in financing for clean projects in Pakistan and the hesitance within the banking industry to promote sustainable energy initiatives Rimsha Rehan, a researcher at PRIED, stressed the necessity for substantial investments in renewable energy, focusing on accessibility and affordability She emphasized the pivotal role
EV bikes
the ur-
just
to sustainable transportation
energy sources,
a particular focus on Electric Vehicles
the
technologies Suggestions ranged from incentives and smoother financing options to market flexibility and in-house indigenization for cost-effective solutions Arslan Iqbal the Chief Risk Officer from the Bank of Punjab advocated for positive incentives and tax credits to enhance green financing for banks, rather than penalization The session concluded with the CEO of PRIED, Badar Alam, reiterating the urgent need for sustainable transportation and energy sources emphasizing the plight of 19 million people in need of financing facilities
challenges of
Senator Seemi Ezdi highlighted
gent need for a
transition
and
with
(EVs) From academia experts underscored the importance of financing for
development and implementation of greener
PR OFT Z a N N a e e M TPL Real Estate Investment Trust (REIT) Fund-I is scheduled to offer a minimum of 1 25% or 22 94 million shares at Rs 17 59 per unit, expecting to raise Rs 403 million from the market This can be supplemented further by an additional offer of 1 22% or 22 39 million shares by the fund runners as a part of a green shoe option which can raise an additional Rs 403 million from the placement So much market jargon might sound confusing, so let’s unpack it all bit by bit W H AT I S R E I T? There are certain concepts which are known to investors in the capital markets Initial Placement Offer (IPO) is one where they understand that a company is looking to list their company in the stock in order to raise funds for investment A new word that has been added to the capital market jargon is REIT Imagine it to be a mutual fund for real estate Just like a mutual fund looks to collect investments from investors small and large a REIT looks to do the same The difference between a mutual fund and REIT is that the latter only invests it in real estate projects A mutual fund is allowed to invest in any asset that it wants that is mandated by its style of investment A REIT is limited to investing these funds in real estate projects Even though it may sound like REITs are limited in their avenues of investment they can invest in any real estate project they like The return earned by an investor in a mutual fund is the income that is generated by the asset itself and the capital gain or change in price that the asset experiences over a period of time Similarly the real estate owned by a REIT is able to generate income in the form of rental income and marketing income and from time to time the assets are revalued which provides the gains to an investor The REIT management company earns through these means and deducts a management fee after which these gains are distributed to the investors Now a question arises, why would investors give someone else their investments when they can do it themselves? Well first of all REITs are supposed to be massive in size An example is the Dolmen City REIT (DCR) which is currently traded in the stock exchange DCR is traded in the stock market and holds in its portfolio the Dolmen City Mall and the Harbour Front located in Karachi The current valuation for the two projects stands at Rs 70 billion Unless they have some good chunk of change lying around small investors do not have the ability to be able to invest in such a huge project so they are given an opportunity to do so with a REIT where they can own a small percentage of the investment REITs can be held by the initial sponsors themselves but in certain cases they can look to sell some of their shareholding in order to raise some capital and funds Just like a company shareholder might sell their shares in the market through an IPO a similar measure can be taken where a REIT investor can offer his shares to the market which is taking place here The IPO sale taking place in this case is mandated by the regulations that have been put into place by the Securities and Exchange Commission of Pakistan W H AT I S T P L? TPL Corporation is one of the leading companies in Pakistan providing technology based solutions The company was established in 2000 and has expanded its portfolio into asset management, tracking, real estate, security services venture capital and general insurance The company established its real estate business in 2007 named TPL Properties which was involved in carrying out investment in real estate projects TPL REIT Management Company is a subsidiary of TPL Properties and provides REIT management services in Pakistan REIT Fund-I is the largest REIT Fund which is focused on generating sustainable development and high yield real estate assets in the country The fund is also the first and largest hybrid Shariah-compliant REIT The fund has made investments in three key projects namely Mangrove, One Hoshang and Technology Park Mangrove is a master planned community which includes mid-rise apartment towers commercial offices hotel and retail space at waterfront locality One Hoshang is one of a kind premium end luxurious residential apartment tower and showrooms located in the city s posh area Technology Park is the first of a kind technology park in Pakistan with high end IT infrastructure with 42 key business hotels The initial investment in the REIT was valued at Rs 18 35 billion from which 39% was invested by TPL Properties while 61% was held by eight commercial banks The units of the REIT are now being offered to the public at a price of Rs 17 59 per unit which is equal to the net asset value (NAV) of the REIT The net asset value is the value of the investments once all the liabilities are deducted from the assets The remaining value is what is seen as the value of assets that the investors are investing in The NAV of the REIT will be released to the market on a quarterly basis in the future which will provide the market an assessment of the value of the REIT units The goal of carrying out the IPO is to get access to additional funds and to discover the unit price of the REIT as it will be quoted and traded on the market on a daily basis g a s co m pa n Y lo o k s to r a i s e f u n D s , J u s t w h at i s a r e i t f u n D a n D h o w D o e s i t wo r k ? g emphasize imper ative to De vise concrete str ategies to briDge DeliverY g ap in financing green ener gY initiatives T P L R E I T f u n d i s l o o ki n g to r a i s e R s 4 0 3 m v i a I P O April 2024 CPI drops to 17.3% YoY PR OFIT N e w s D e s k The latest data released by the Pakistan Bureau of Statistics (PBS) indicates a notable decline in the Consumer Price Index (CPI) for April 2024, registering at 17 3% Year-onYear (YoY) This figure represents a significant drop from the previous month’s 20 7% YoY and a substantial decrease from April 2023 s 36 4% YoY Similarly the average core inflation, measured by non-food non-energy items, saw a 15 6% YoY increase in April 2024, compared to 15 7% YoY in the prior month and 21 7% YoY in April 2023 On a monthly basis the CPI witnessed a 0 4% decrease in April 2024 marking the first monthly decline since June 2023 and indicating a potential downward trend in inflation This contrasts with the 1 7% increase observed in the previous month and the 2 4% increase recorded in April 2023 The inflation figures for April 2024 were in line with the expectations of MG Research but softer than the forecasts made by the Finance Ministry This data suggests a moderation in inflationary pressures, potentially paving the way for a more stable economic environment in the coming months Analyzing the correlation between CPI-based inflation rates and policy rates the real interest rate now stands at 4 7% with a policy rate of 22 0% The ongoing disinflation trend is expected to lead to a sharper downward trajectory in consumer prices, particularly from June onwards due to a high base effect Based on various scenarios of monthly inflation rates projections indicate that if consumer prices rise by an average of 0 5% monthly annual inflation could drop to about 6 2% by December With a 1% monthly increase, annual inflation may fall to about 12 7% by the end of the year Meanwhile, maintaining an average monthly increase of 1 35% which aligns with the last 12-month average could result in an annual inflation rate of 17 4% by December The chart below illustrates the potential trajectory of yearly inflation based on different monthly inflation rates, highlighting the dynamic nature of inflationary trends and their impact on economic stability PR OFIT M o N i to r N g D e s k The Pakistan Stock Exchange (PSX) saw bears dominating for the third successive session this week with shares plummeting by more than 400 points on Thursday following the State Bank of Pakistan (SBP) s decision to maintain its key policy rate The benchmark KSE-100 index traded in negative territory throughout the day, closing at 70,657 64, down by 444 90 points or 0 63% from the previ-
close of 71 102 54
to industry experts
market
downturn
tion phase and profit-taking activity
the SBP’s rate stability decision
there may be a potential extended
of rate stability
ous
According
the
s
is due to a correc-
following
whereas
period
with expected tax hikes and budget adjustments
ket sentiments
g s to c k e x c h a n g e w i t n e s s e s t h i r D co n s e c u t i v e b e a r i s h s e s s i o n , s h e D D i n g o v e r 4 0 0 p o i n t s a m i D s b p ' s r at e s ta b i l i t Y April trade deficit soars 2.81x YoY, expor ts dip MoM countr y's trade deficit expands significantly by 2 81x YoY to $2 374 bn, coupled with a 8 67% mom drop in expor ts PR OFIT N e w s D e s k The trade dynamics for Pakistan in April showcased a notable surge in the trade deficit soaring by 2 81 times Year-on-Year (YoY) to $2 374 billion, a substantial increase from the $846 million deficit recorded in April 2023, as per data released by the Pakistan Bureau of Statistics (PBS) On a monthly basis the trade deficit widened by 3 16% Month-on-Month (MoM) reaching $2 374 billion compared to $2 3 billion in March 2024 However, looking at the cumulative figures for the first ten months of Fiscal Year 2023-24 (10MFY24), there is a notable reduction of 17 09% YoY in the negative trade balance which stood at $19 51 billion compared to $23 54 billion in 10MFY23 Examining the specifics of exports April witnessed a decline of 8 67% MoM to $2 35 billion, down from $2 57 billion in March 2024 Conversely, on a YoY basis, exports showed an increase of 10 02% compared to the $2 14 billion reported in April 2023 In contrast the country s expenditure on imports during April saw a 3 08% MoM reduction, totaling $4 72 billion compared to $4 87 billion in the previous month However, on a YoY comparison with April 2023 imports surged by 58 43% reaching $2 98 billion Cumulatively in the first ten months of FY24 exports amounted to $25 28 billion while imports stood at $44 79 billion This marks a YoY increase of 9 10% in exports and a 4 09% YoY decrease in imports, contributing to a reduced trade deficit over the fiscal year PR OFIT M o N i to r i N g D e s k Iranian oil smuggling has become a significant economic challenge for Pakistan resulting in an annual revenue loss exceeding Rs227 billion according to a joint intelligence report to the Petroleum Division This illicit trade involves smuggling Iranian petrol and diesel through land and sea routes, bypassing regulatory controls and tax collection mechanisms severely impacting Pakistan s fiscal health The report reveals a network of about 100 individuals operating across law enforcement agencies and 533 illegal petrol stations facilitating the smug-
activities These stations are con-
in Punjab particularly in
the wide-
nature
the problem
the report
use
gling
centrated
major cities like Lahore, Faisalabad, Jhang, and Attock, indicating
spread
of
Operational details in
highlight the
of unfrequented
in Makran
for transportation
FBR’s move to block SIMs of non-filers under scrutiny by PTA PR OFIT N e w s D e s k The Pakistan Telecommunication Authority (PTA) announced on Thursday that it is currently reviewing the Federal Bureau of Revenue’s (FBR) decision to block 500 000 SIMs belonging to non-filers In a statement issued by the PTA it was stated We are actively engaging with cellular mobile operators and relevant stakeholders regarding this matter The regulator emphasized that any developments regarding this issue will be communicated accordingly Their primary objective is to ensure compliance with regulatory frameworks and legal provisions while safeguarding the interests of telecom consumers This statement from PTA comes following FBR s announcement about blocking SIMs of individuals not appearing on the active taxpayer list but who are obligated to file the Income Tax Return for Tax Year 2023 as per the Income Tax Ordinance 2001 The FBR had moved to take the action in response to prevalent tax evasion issues that have negatively impacted the country’s financially strained economy FBR labeled this move as a “strategic step ” mentioning that non-filers can restore their mobile phone SIMs by filing their tax return for the year 2023 The compliance report due on May 15 requires PTA and all telecom operators to ensure adherence to the Income Tax General Order (ITGO) immediately Earlier, the Pakistan Telecommunication Company Limited (PTCL) also mentioned that they are thoroughly evaluating this order within the applicable legal and regulatory framework It s worth noting that FBR gained additional powers last year to broaden the tax net Under Section 114B of the Income Tax Ordinance 2001 they were authorized to disconnect utility connections and block mobile SIMs if taxpayers failed to respond to issued notices Additionally FBR has collaborated with PTA to identify SIMs of under-filers who didn t file their returns despite being notified and possessing taxable transaction records g J o i n t i n t e l l i g e n c e r e p o rt to p e t r o l e u m D i v i s i o n e s t i m at e s a n n ua l r e v e n u e lo s s e xc e e D i n g r s 227 b

KP GOVT CUTS CURRENT EXPENDITURES OF ALL DEPARTMENTS

press freedom, including abolishing censorship laws and supporting independent media growth, Bilawal said that she also championed press freedom and human rights globally underscoring their significance in democratic governance and seeking international support during dictatorial regimes He noted that President Asif Ali Zardari honoured the vision and guiding principles of Shaheed Bhutto and Shaheed Mohtarma Benazir

Historically, the press in Pakistan has served as a watchdog, uncovering injustices exposing corruption and amplifying the voices of the marginalized he added The PPP Chairman expressing concern over challenges such as censor-

that Pakistan Tehreek-e-Insaf (PTI)-backed independent candidates won the majority of seats in Punjab and KP via “managed rigging” both sides have “agreed on increasing party-level contacts and have already announced launching their separate countrywide protest movements against poll rigging

On Monday, the JUI-F chief, while addressing the party’s office bearers, reaffirmed his resolve to stage massive protests along with the struggle outside parliament against the rigged elections

tional Assembly, backed Pakistan PTI

ship fake news and violence faced by journalists urged media organizations to uphold journalistic integrity impartiality and professionalism in their reporting He reiterated the party s unwavering support for press freedom, grounded in democracy and liberty principles He underscored the 1973 Constitution’s guarantee of freedom of expression including press freedom a legacy of Quaid-e-Awam Shaheed Zulfikar Ali Bhutto Under his leadership, reforms liberalized media policies, fostering greater independence,” he noted Highlighting Shaheed Mohtarma Benazir Bhutto’s efforts to promote

granting the right to the latter s party to organise public gatherings terming it the Imran-founded party s constitutional right

Continuing on his tirade against Fazl, Gandapur, who has defeated the JUI-F chief in the elections multiple times underscored the difference between mandate theft and deceit

Since Maulana sahib has been a man of deals, he might have struck one with them again this time to win the elections Now the question is if they had helped other people to win the elections through Form-47 then why didn t they help Maulana sahib the chief minister said He [Fazl] has become quite old and must tell the truth to the nation that he had been holding for a long time We will welcome Maulana

PPP opposes privatization of PIA

and Gaza Palestine praising their courage in reporting on human rights abuses despite grave risks Let us carry forward the torch of press freedom, illuminating pathways of accountability and fostering dialogue Through our unwavering support, let’s empower journalists to fearlessly navigate the realms of truth shaping a brighter future for all he concluded

and appreciate his contribution if he has started telling the truth the chief minister stated, he added Gandapur further highlighted the contradiction in Fazl’s statements, saying he until now would take credit for toppling Imran Khan’s government but then changed his position claiming that Imran Khan s government was brought down by the then army chief General Qamar Javed Bajwa [Imran] Khan has never struck any deal and let me tell you once again that he will never strike one with anyone to seek his release from prison he told the journalists However CM Gandapur said that if Khan decided to negotiate with the government, then he would do it for the country and the people of Pakistan

Friday 3 May 2024 | KARACHI NEWS 03 KP Revenue Authorit y launches crackdown on non-compliant hotels, restaurants PESHAWAR a z z B u N e R i To improve tax compliance and discourage tax evasion, the Khyber Pakhtunkhwa Revenue Authority (KPRA) has launched a crackdown against non-compliant taxpayer hotels and restaurants in Peshawar A team of KPRA Peshawar including Assistant Collector Khalid Mansoor Assistant Collector Roohullah Khan, Assistant Collector Shahnawaz Khan and inspectors conducted raids on two restaurants located on University Road and confiscated their records On the directives of Director General KPRA Fouzia Iqbal the KPRA team conducted raids on Habibi Restaurant and Dampukh Khorak and confiscated their records The restaurants were served with notices and asked to submit their records to KPRA but they did not respond to the notices after which the raids were conducted and record was confiscated as per KPRA rules and regulations DG KPRA Fouzia Iqbal said that they have noticed persistent noncompliance from restaurants and hotels in Peshawar and, despite the issuance of several notices by KPRA, numerous hotels and restaurants are still non-compliant “This has forced KPRA to start enforcement drive in the city against non-compliant restaurants and hotels she said adding that KPRA teams will confiscate their records, attach bank accounts, and will seal businesses if restaurants and hotel owners continue to evade tax and remain non-compliant “In order to avoid strict actions of KPRA it is for the information of all registered persons who have failed to deposit tax or have made short payments or not issued proper sales tax invoices or under-reporting their sales that they must settle their tax liabilities and deposit the due tax well in time,” the DG KPRA said Govt borrowing soars to Rs5.736trn in 9MFY24 PESHAWAR a z i z B u N e R i T H E Khyber Pakhtunkhwa (KP) Government has halved the current expenditures of all administrative departments for the remaining period of the current fiscal year, directing them to control ongoing spending The Finance Department, KP, in separate letters issued to all administrative secretaries, said that the provincial government is making efforts to control “unnecessary” expenditures In this regard billions of rupees were being spent on ongoing expenditures The volume of current expenditures has reached Rs 8 billion to Rs 10 billion per month, which is very high Therefore, all administrative departments should immediately reduce their ongoing expenditures and reduce them themselves before submitting the details of their possible expenditures for the next fiscal year read the letters Similarly for the remaining two months of the current fiscal year the provincial government has halved all current expenditures and has also informed the administrative departments in this regard that they will be paid half of the current expenditures for May and June Administrative departments were advised to take immediate steps to reduce their unnecessary current expenditures The government has taken this step to control the fiscal deficit and ensure the availability of funds for development projects The government has also directed all departments to adopt austerity measures and avoid unnecessary spending The government s decision to reduce current expenditures is likely to affect the working of administrative departments However, the government has said that it will take all necessary steps to ensure that essential services are not affected
PESHAWAR S ta f f R e p o R t Khyber Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur has said that no one stole Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rahman s mandate as he was in fact defeated in the February 8 polls Speaking to the journalists at an event organised to mark Labour Day, Gandapur said: “Nobody has stolen his mandate as I have defeated him in the elections He has rather been deceived by those whom Maulana sahib had always trusted and struck deals with KP chief minister s remarks come as both parties, traditional arch-rivals in the political arena have been engaged in talks owing to their common reservations on the transparency of the general elections Despite Fazl s allegations
T h e s a m e d a y t h e v e t e r a n p o l i t ic i a n , i n a s c a t h i n g s p e e c h i n t h e N a -
l e a d e r A s a d Q a i s e r ’s d e m a n d f o r
J U I - F c h i e f ’s m a n d ate wa s n o t s to l e n , h e wa s d e f e ate d : C M G a n d a p u r
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assistance to restruc ture $230mn loan g A D M I N I S T R AT I V E D E PA RT M E N T S W I L L B E PA I D H A L F F O R M AY A N D J U N E D U E TO E X P E N D I T U R E S R E AC H I N G R S 10 B P E R M O N T H g B O R R O W I N G CO N S U M E S 76% O F TA X R E V E N U E, I N T E N S I F Y I N G D E BT C H A L L E N G E S A M I D S T H I G H I N T E R E S T R AT E S PR OFIT M o N i to R i N g D e S k The government borrowed Rs5 736 trillion from banks in the first nine months (July-March) of the current fiscal year 2023-24, which represents a significant increase compared to previous years This borrowing accounted for 76% of the tax revenue during the same period according to the latest data from the State Bank The State Bank s report indicates that both the current government and the previous caretaker government contributed to this substantial level of borrowing despite high borrowing costs As of April 30 the average yields for treasury bills for three six and 12 months stood at 21% highlighting the expensive nature of these borrowings and the potential debt trap scenario where borrowing primarily covers interest payments During this fiscal year, the markup payments made by the government equaled 76% of the tax revenue, with Rs5 517 trillion paid as interest on previous borrowings The data also shows a stark increase in interest payments in FY23 totaling Rs5 935 trillion a significant rise from Rs3 331 trillion in FY22 Consequently, GDP in FY23 expanded to Rs84 657 trillion from Rs66 623 trillion in FY22 Looking ahead to FY24, the government is expected to spend approximately Rs7 3 trillion on debt servicing, which is over half of the total budget of Rs14 46 trillion Despite retiring Rs329 3 billion in net debt this year the government still requires substantial funds for commodity operations This comes after no borrowings were made for wheat procurement in Sindh and Punjab, leading to a price crash PR OFIT M o N to R i N g D e S k The government has sought the World Bank’s assistance to restructure the $230 million “Competitive and the Livable City of Karachi (CLICK) project citing delays caused by the COVID-19 pandemic, monsoon rains, flooding, and changes in the local government law Initially approved on June 27, 2019, and effective from November 26, 2019, the CLICK project aims to enhance urban management service delivery and the business environment in Karachi The project s completion date was June 30 2024 with $77 25 million (34% of the total loan) disbursed as of April 8 2024 The project includes five key components: grants and training for local councils, modernization of urban property tax systems, city competitiveness enhancement solid waste management technical assistance and an emergency response component which has been activated and reallocated funds as needed Due to the pandemic beginning in March 2020, monsoon impacts in 2020, and a pivotal amendment on November 26 2021 which increased the number of urban local councils from eight to 26 the project encountered early setbacks This amendment transformed eight district municipal councils into 25 town municipal corporations plus the Karachi Metropolitan Corporation, which now require coordinated project efforts Despite these challenges, the provincial government continues its commitment to the project s goals However it has requested modifications including extending the loan s deadline by 23 months, involving all 25 municipal corporations in the project, and centralizing grant management to improve efficiency and fund disbursement g COMPETITIVE AND LIVABLE CIT Y OF K AR ACHI (CLICK) PROJECT FACED DEL AYS DUE TO COVID-19 PANDEMIC, MONSOON R AINS, FLOODING, AND CHANGES IN LOCAL GOV T L AW Unregistered retailers to face 10% withholding tax PR OFIT N e w S D e S k The Federal Board of Revenue (FBR) is considering an increase in the withholding tax rate for supplies to non-registered wholesalers and traders following a disappointing turnout from voluntary registration under the Tajir Dost Scheme (TDS) Despite extensive efforts to encourage registration by the April 30 deadline, fewer than 100 traders have signed up for Tajir Dost Scheme As per news reports the FBR is now set to implement a heightened withholding tax rate of 10% on supplies to non-registered distributors a significant increase from the current rate of 0 2% This change is due for announcement in the 2024-25 budget and is expected to be implemented starting July 1 The increased tax is designed to cascade through the supply chain affecting manufacturers and importers who will pass the tax down to retailers Currently registered traders pay a withholding tax of 0 1%, while non-registered ones are taxed at 0 2% The FBR estimates that the initiative could generate an additional revenue of Rs400 billion to Rs500 billion annually Furthermore the FBR is considering extending the voluntary registration deadline beyond April 30 and is planning mandatory registration postdeadline, with non-compliance attracting penalties under Section 182 of the Income Tax Ordinance 2001 Despite these efforts the trading community represented by the All Pakistan Association of Traders and Traders Action Committee Islamabad has criticised the FBR for not addressing their concerns adequately, particularly citing a lack of effective awareness campaigns for small shopkeepers They demand an extension of the registration period and better engagement from the FBR SBP-held foreign reser ves up by $25m PR OFIT N e w S D e S k Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $25 million to $ 8 0 billion during the week ended on April 26 2024 As per latest data shared by the SBP the total liquid foreign reserves held by the country stood at $13 316 billion The break-up of the foreign reserves position depicts that reserves held by the State Bank of Pakistan stood at $8 006 billion while net foreign reserves held by commercial banks recorded $5 31 billion ISLAMABAD S ta f f R e p o R t Chairman Pakistan People’s Party (PPP) Bilawal Bhutto Zardari in message on World Press Freedom Day to be marked on Friday has expressed solidarity with journalists and media professionals worldwide The PPP Chairman emphasizing the paramount importance of press freedom reaffirmed his party’s staunch support for the invaluable role of a free and independent press in fostering democracy Bilawal Bhutto underscored that press freedom was not merely a cornerstone of democracy, but also vital for nurturing transparency accountability and the proliferation of diverse ideas within society He urged that safeguarding and upholding this fundamental right should be the responsibility of every democratic government and party
Govt
World Bank ’s
Bhutto by enshrining the Right to Know into the Constitution through the 18th Constitutional Amendment
Chairman
expressed his party s solidarity with journalists in conflict zones like Indian Illegally Oc-
Jammu
(IIOJK)
World Press Freedom Day: Bilawal expresses solidarit y with journalists, media professionals KARACHI S ta f f R e p o R t Pakistan Peoples’ Party (PPP) has expressed its opposition to the Prime Minister Shehbaz Sharif-led government’s privatisation policy for Pakistan International Airlines (PIA) and the Pakistan Steel Mills (PSM) on Thursday Speaking at an event to commemorate Labour Day in Karachi, PPP Chairman Bilawal Bhutto Zardari said that his party would try to convince Finance Minister Muhammad Aurangzeb to operate the national carrier via the public-private partnership to revive the airline instead of privatising it It is to be noted that the International Monetary Fund (IMF) has called on Islamabad to privatise the bleeding state-owned enterprises to revitalise the sick economy Meanwhile, FinMin Aurangzeb has also, on several occasions, underscored the significance of the “essential” privatisation of loss-making enterprises In the past elected governments have shied away from undertaking unpopular reforms including the sale of the flag carrier But Pakistan in a deep economic crisis agreed in June 2023 to overhaul loss-making stateowned enterprises under a deal with the Fund for a $3 billion bailout Speaking on the issue, PPP leader and former Senate chairman Raza Rabbani termed the proposed privatisation of PIA an “unconstitutional step” and said that the federal cabinet lacked the vision to make such decisions Rabbani further clarified that the government s agenda of privatisation was unacceptable to the PPP Meanwhile, on the issue of PSM, Bilawal stressed that since the land belonged to the Sindh government, any and all decisions regarding the state-owned enterprise should be made with the Sindh government s consent Calling for collaborative discussions between the federal and provincial governments the PPP chairman proposed that if the federal government intended to divest from the Steel Mills, Sindh should have the opportunity to acquire and operate it more efficiently under the public-private partnership mode
The
PPP
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and Kashmir

Terrorism taking over

PR E S I D E N T Azif Ali Zardari, while presiding over a law and order meeting in Karachi, directed that the Sindh government crackdown on the three problems that have perennially plagued the province: street criminals kacha dacoits and drug traffickers He did so on the same day that the Pakistan Institute for Conflict Studies issued its monthly report showing that terrorism was showing an uptick in April, after some reduction in March As if to provide an example, there was another attack on the Jhangi checkpost in Taunsa district, in which seven policemen were injured While terrorism and crime are only tangentially related, it makes little difference to someone who has been shot dead whether the trigger was pulled by a criminal trying to make a living or a terrorist trying to make a political point It is the government s responsibility to ensure that crimes of all kinds, whatever the motive, are kept under control President Zardari may be criticized for dealing with law and order, but it should be remembered that the government there is his party’s He probably realizes that the recent upsurge in crime in the province is taking place after the party has held the reins of office there since 2008, and is on its second Chief Minister Street crime was once based on political protection from the MQM, but with the MQM in opposition, that would no longer seem to be the case Similarly, the Kacha dacoits are said to have political backing from the PPP, but the fact remains that there have been dacoits in the Kacha since time immemorial and the PPP can only be blamed for inefficiency, not complicity Indeed if the PPP is in any way complicit that would be part of that inefficiency

The transition from terrorism to criminality can be seen from the President s warning against crimes involving foreigners, particularly Chinese It should not be forgotten that the attacks against foreigners which form part of the crazy kaleidoscope of crime in Karachi were carried out by terrorists Terrorists here have been known to carry out kidnappings for ransom to finance their activities while they have long been associated with the drug trade Vigilant policing also throws up terrorist activity, such as suspicious rentals, or obtrusive reconnaissance The fight against crime and terrorism is also a vital part of ensuring a more conducive atmosphere for investment whether foreign or indigenous No one likes investing in a place that might go up in flames or where there are physical threats, after all

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

M A Niazi Editor Pakistan Today Babar Nizami Editor Profit

Youthful rebellion or a sea-change?

TH E happenings on the campuses of the USA are remarkable because these were the very campuses where there was repression of the right to free speech in the name of anti-antisemitism which was a thinly disguised way of ensuring that Israel was given the support it wanted

As American disgust with the slaughter in Gaza builds, the previous conflation of Semitism and Israel has not yet broken down, but it has become frayed At its peak the dominance of pro-Israel rhetoric meant that Palesinians calling for freedom of their country were labelled as anti-Semitic This created the first cracks for it meant that Arabs whose language was quintessentially Semitic, were being excluded from the Semitic tent

Instead, the Semitic identity was being stolen by Zionists; not even all Jews, because a number of Hasidic Orthodox Jews reject the Zionist label and oppose the existence of the state of Israel

There seems to be a point here for Zionism the belief that Jews should have a homeland of their own, originates from the view that Jews are a nation This view seems to have something to do with the historical experience of turn-of-the-20-th-century Jews in the then Russian Empire which also covered portions of modern Eastern Europe especially Poland One result of those pogroms was that a lot of Jews migrated to the USA where they imbibed nationalism

The solution they reached was to define Jews as a nation in the 19th century sense, deserving of a homeland This won support from the UK and France who committed during World War I to give the Jews a homeland in Palestine The Holocaust intervened in World War II creating a sense of guilt in the West which led to the creation of Israel

Therefore, Eastern European Jews, largely Russians and Ukrainians, were at the forefront The interesting thing is that they were not religious Jews

They identified as socialist or at least social democratic which explains why the Labour Party was so influential in the early years of Israel

Orthodox Jews included those who were against the creation of Israel before the coming of the Messiah This is not the exact mirror image of those orthodox Muslims who opposed the creation of Pakistan, for they claimed that the whole of India should be under Muslim rule but it is possible to see the parallel with Jewish Orthodoxy

In the USA a lot of Jews decided against uprooting themselves but they wanted to show loyalty to Israel These Jews were active in both the Republican and Democratic parties, but especially the Democrats

There was a lot of money given to candidates who supported Israel until it became a truism that the American Israel Public Affairs Committee was perhaps the most powerful donor in the USA Candidates for Congress and for President followed the money However, by the same token as Israel claimed a

state, the Palestinian people did too Palestinians forced out of their homes in 1948 had to go where they could Within the Third World they went to Arab countries within the West they went to the USA and Europe and South America The largest Palestinian population outside the Middle East is in Chile, where there are 500,000, and the second largest is in the USA, where there are 255,000 Though they are still fewer than American Jews, they are present on college campuses both as teachers and as students

The last time there was a similar outburst probably much greater and more intense was in 1968 when student protests seems to break out all over the world One of the consequences was the resignation of Charles De Gaulle as President of France in 1969

The French protests had started over the raising of fees in French universities It also led in the USA to the Kent State shootings in 1970 in which students protesting the Vietnam War at the Kent State University were fired at by the Ohio National Guard and five were killed That shocked the entire USA, and helped end the Vietnam War The police forces going onto US campuses to break up the pro-Palestinian protests have revived memories of that horrifying incident though it does not seem that matters will get that far Not only was Kent State unprecedented but it must be remembered that students then had a vested interest in ending that war, which they do not have in Gaza Students did not want to be conscripted, as the USA was obliged to do Conscription came to an end after the Vietnam War ended and while the USA has sent Israel vast funds allowing it to carry on its fatal work and while it has even scrambled its warplanes in the theatre against Iranian missiles and drones it is showing no signs of needing the kind of manpower that will compel conscription It should

deposits Though a good beginning, Pakistan’s space programme is currently minuscule compared to that of its neighbor India in several aspects India has achieved milestones such as landing on the moon with Chandrayaan-3 reaching Mars with Mangalyaan, launching a record number of satellites, and developing reliable launch vehicles, mission to study the sun’s corona, accomplishments that Pakistan has not yet matched Perhaps it was India s extraordinary ability teamwork cohesive leadership and vision in pursuing its space programme that may have prompted SUPARCO to show signs of life But Pakistan s institutional capacity is still too low and fragile, and its human resources are often unimaginative and regimented This lack of capacity hinders meaningful progress without relying on foreign assistance

The Indian space research and development programs have been inspired and led by visionary leaders such as Dr Vikram Sarabhai, known as the father of the Indian space program, who established the Indian National Committee for Space Research (INCOSPAR) later evolving into the Indian Space Research Organisation (ISRO) Prof Satish Dhawan as ISRO chairman from 1972 to 1984 advanced India s space capabilities with the successful launch of the SLV-3 and Rohini satellites Prof U R Rao, ISRO chairman from 1984 to 1994, oversaw the development of the INSAT and PSLV programs Dr K Kasturirangan chairman from 1994 to 2003 led the launch of the IRS and GSAT satellite series Dr A P J Abdul Kalam renowned for his missile programme contributions, also played a significant role in India s space programme, contributing to the SLV-3 and PSLV programs These leaders among others have guided India’s space exploration propelling ISRO into a global space leader Pakistan s space research and development

Pakistan over the Moon

program has been influenced by several visionary leaders Abdus Salam, although not directly involved, advocated for scientific advancement in the country, laying the groundwork for future endeavors Dr Riazuddin a prominent physicist contributed to Pakistan’s nuclear and space programmes aiding in the establishment of SUPARCO Dr Abdus Salam Khan as SUPARCO chairman from 1996 to 2001, oversaw the launch of Pakistan s first indigenously developed satellite, Badr-A Dr Arshad Ali Hakeem, SUPARCO chairman from 2001 to 2006, facilitated the launch of satellites for communication and remote sensing These leaders have collectively shaped Pakistan s space programme contributing to its progress and achievements in space exploration

Since 2010 Pakistan s Space Research programme has been headed by army generals In 2010 Major General Ahmed Bilal was appointed as SUPARCO head he was succeeded by Major General Qaiser Anees Khurran in 2016 followed by Major General Amer Nadeen in 2018 and who however succeed by Muhammad Yusuf Khan in 2023, the first civilian after 14 years

Though Pakistan had an early start in the 1960s launching a sounding rocket before India it could not sustain its momentum thanks to our legendary callous attitude towards matters of national building our lack of a long-term vision, mission, or clear milestones for tangible achievements, our hardened habit of achieving flashy innovations or accomplishments, only to later desecrate humiliate and insult those behind such achievements This behavior stems from our internal and external institutional incompetencies which distort our earlier gains and lead us back into a state of inertia and status quo We then slip back into a deep sleep, only to be awakened by the wake-up calls from other countries especially India Three years later than Pakistan in 1963

India launched its first rocket which became a laughing stock being transported by a bullock cart Since there was no looking back Soon due to their continuous, persistent and uninterrupted commitment for space exploration, India became a major global player in space exploration and research While preparing to take astronauts into orbit in 2025 besides landing on the

moon with Chandrayaan-3 reaching Mars by Mangalyaan mission launching a record-breaking 104 satellites in a single mission, and developing its own reliable launch vehicles like the PSLV, and sending a spacecraft called AdityaL1 to orbit sun and study sun’s corona, chromosphere photosphere and solar wind aim to gather data on solar activity which can impact Earth s climate and communication systems Whereas Pakistan s space programme overseen by the Space & Upper Atmosphere Research Commission (SUPARCO), has achieved nothing compared to India’s space programme It hasn’t yet developed its own launch vehicles and uses other nations’ help for securing launch of its satellites and space probes Pakistan s space programme can achieve great success only if we start honoring our scientific pioneers, establishing a clear vision and mission, and ensuring adequate resource allocation Building state-of-the-art research facilities, cultivating a skilled workforce and appointing competent qualified relevant and inspiring leaders are essential steps Political will and support is crucial for prioritizing the programme and securing necessary funding International collaborations can also enhance Pakistan’s capabilities By adopting a strategic approach and investing in space research Pakistan can become a key player in the global space arena bringing pride and prosperity to the nation

The writer retired as Press Secretary the the President, and is former Press Minister at Embassy of Paikistan to France and former MD Shalimar Recording & Broadcasting Company Limited

Political will and suppor t is crucial for prioritizing the programme and securing necessar y funding International collaborations can also enhance PakistanÊs capabilities By adopting a strategic approach and investing in space research, Pakistan can become a key player in the global space arena, bringing pride and prosperity to the nation.

Kite flying ban

Havoc in Chaghi

Pak-Iran relations

Fight against traffic

04 Fr day 3 May 2024 COMMENT Lahore – Ph: 042-36300938, 042-36375965 I K arachi – Ph: 021-32640318 I Islamabad – Ph: 051-2204545 I Web: www pakistantoday com pk I Email: editorial@pakistantoday com pk
Pre s i d e nt Za rd a r i ’s co n ce r n co i n c i d e s w i t h re p o r t o f u p t i c k i n te r ro r i s m
THIS year saw a new and terrifying threat in the shape of chemical kiteflying strings which are incredibly sharp and pose a lethal risk to motorcyclists In fact the act of flying a kite should not come at the cost of a human life A complete ban on the sale of chemical string and manufacture is urgently required Public awareness campaigns are also crucial to educate people about the dangers associated with the use of these deadly strings M ABID HAFEEZ LAHORE
T H E recent downpour has wreaked havoc on Chaghi district In Lashkarab and Killi Kochal mud houses have collapsed and agricultural fields have been washed away The severity of the damage is staggering leaving communities in despair and urgent need of assistance Families have lost their homes and livelihoods overnight, and the entire region is grappling with the aftermath of the natural disaster In times like these, it is crucial for the government and relevant agencies to swiftly mobilise resources and provide immediate support to the affected Furthermore long-term measures must be put in place to prevent such devastation in the future SYED ZIA UR REHMAN CHAGHI
T H E visit of Iranian President Ebrahim Raisi to Pakistan was a significant step forward in the realm of bilateral ties between the two neighbouring countries whose relations in the recent past have been somewhat frosty Besides, as key players in South Asia and the Middle East, Islamabad and Tehran are bound together with economic religious affiliations and strategic interests Since both countries share a common border this has resulted in security complications Economic cooperation is one of the key aspects of this relationship Defence relations need to be bolstered in order to maintain security along the common border Cross-border terrorism is a strain on brotherly relations This ought to be dealt with in a cohesive manner FAWAD HASHMEY LAHORE
T H E challenges posed and frustrations caused by traffic congestion on Karachi roads are enormous The stress and anxiety take a toll on people s mental and physical wellbeing while the financial burden of fuel costs and lost productivity further compound the issue Urgent action is needed to address the growing issue of traffic menace RAIMA KHAN KARACHI Save water WA S T I N G water is a dangerous habit that will affect us sooner or later In fact it has already shown us how bad things can be in the fture A lot water is wasted on a daily basis across the country including thousands of mosques This water can easily be stored and used to increase greenery in the surrounding areas Mosque administrations should be actively encouraged to take effective steps in this direction ABDUL BASIT PETARO 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 P A K I S TA N S ICUBE-Q satellite is set to be transported by China’s Chang’e 6 spacecraft scheduled to depart from Hainan China on Friday May 3rd 2024 at 1250h The ICUBE-Q CubeSat is part of the payload of Chang e 6 and will orbit the moon to detect traces of ice on its surface from orbit Developed by the Institute of Space Technology (IST) in Pakistan, this miniaturized satellite, known as a CubeSat is equipped with two optical cameras designed to capture detailed images of the lunar surface If successful the data collected by this miniature satellite will provide valuable insights into the moon s topography, geological features, and potential resource
Pa ki s t a n i s ate l l i te to o r b i t to d ay
QAMAr BAshIr
be noted that the antiwar protesters included female students, who were not motivated by a desire to dodge the draft but by sympathy for the Vietnamese people who were treated by the US forces badly but not as badly as the Israelis are treating the Gazans The problem with war is that it takes time for atrocities to be uncovered The Vietnam War s My Lai massacre occurred in May 1968, but was only revealed to the American public in November 1969 The IDF has been targeting hospitals schools and hospitals already but no My Lai has yet come to the public eye However just as the Kent State shootings occurred before My Lai became public knowledge the pro-Gazan protests have occurred before any IDF atrocity has been revealed However, it should be noted that much of the support is motivated by a source that would originate only on a university campus– free speech It is worth noting that freedom of speech is one of the basic components of the university much as it is that of any democratic society However the principle of freedom of speech is also used for the blasphemous cartoons against the Holy Prophet (PBUH), so the protests do not necessarily mean any sort of victory for the Palestinians After all, the same principle justifies Israeli propaganda which has been centred on the October 7 attacks and the need to remove the Hamas leadership This is one of the problems of democracy and free speech What if the majority is in favour of genocide? Israel clearly is, because the War Cabinet formed by Benjamin Netanyahu includes all shades of Israeli opinion and is packed with retired generals There is no way of adjudging the pro-Gaza protesters as in any way inherently morally superior to the proIsrael activists Killing babies might well be wrong but according to what standard? The truisms of religion must be adopted, which is exactly what liberalism was given shape to avoid Along with religion come a large number of other questions, like which religion is to be followed The pro-Israeli lobby should look to the long term The kneejerk US support for Israel will end when those protesting today take over the reins in the decades to come Even if no future President is involved in these protests, if he supports Israel 40 years from now, it will be because he thinks it good for the USA not because as today it is the default US position At the moment the various police forces arrayed themselves on the side of Israel The arrests of protesters could have been disguised as support for law and order, had it not been for the police s inaction when pro-Israel vigilantes tried to break up the UCLA encampment The young protesters at universities in the West are engaged in something that was also done by their parents or perhaps their grandparents back in the day: supporting but not adopting an ideology which their elders have declared opposed to their own In the 1960s it was communism, this time it is Islam The writer is a member of staff
At Penpoint M A N I A Z I T h e yo u n g p ro t e s t e r s a t u n i v e r s i t i e s i n t h e We s t a r e e n g a g e d i n s o m e t h i n g t h a t w a s a l s o d o n e by t h e i r p a r e n t s , o r p e r h a p s t h e i r g r a n d p a r e n t s , b a ck i n t h e d ay : s u p p o r t i n g , bu t n o t a d o p t i n g , a n i d e o l o g y w h i c h t h e i r e l d e r s h a v e d e cl a r e d o p p o s e d t o t h e i r o w n I n t h e 1 9 6 0 s i t w a s c o m mu n i s m , t h i s t i m e i t i s I s l a m Th e n ex t U S g e n e rat i o n i s l i ke l y to v i e w I s ra e l d i f f e re nt l y

Attempting to conquer the final frontier?

Tments are prejudged in favour of one or another politico on the basis of imagined bias of judges A blue-eyed prisoner writes letters to the Chief Justice of Pakistan Lawyers address the media immediately after attending courts A CJP is pilloried for seeking an imagined extension in tenure A force

news, films, etc ] succeeded, within six months, in turning a pacifist population into a hysterical, war mongering population which wanted to destroy everything German tear the Germans limb from limb go to war and save the world After the war the same techniques were used to whip up a hysterical Red Scare On page 144 of his autobiography Mein Kampf (My Struggle), Hitler applauds his adversaries for successful propaganda He lambasted Germans who thought that the work of propaganda could be entrusted to the first ass that came along braying of his own special talents, and they had no conception of the fact that propaganda demands the most skilled brains that can be found’ Hitler ’s propaganda theorems are quoted in American political science textbooks Propaganda in its various manifestations has become intertwined with rumours A retired major along with his cohort keeps shouting a military mutiny is in the offing Rumour mongering also is an art as well as a science with well-defined formulae, as described in Rumours: Uses Interpretations and Images’ (1990) by Jean-Noel Kapferer It sets forth rumour-making formulae like a rumour is a multiple of importance of an event and ambiguity (Shibutani), or a sum of fact plus fantasy (Kapferer) Allport and Postman, founding fathers of research in the field of rumours, dealt with false rumours Techniques used to convey hidden pernicious meanings include metaphors alle-

gories Aesopic language guarded speech withheld information and esoteric communication Hans Speiier says, Finally there are communications in which withholding is indeed total: evasive answers lies deliberate obscurities loquacious flooding of the channels with socially acceptable nonsense (Harold D Lasswell Daniel Lerner Hans Speier, Propaganda and Communication in World History, Volume II Hans Speier, The Communication of Hidden Meaning, p 172)

It is unfortunate that Pakistan’s propagandists powered by a political party observe no rules

Richard Deacon says Truth twisting unless it is conducted with caution and great attention to detail, it will inevitably fail, if practiced too often It is not the deliberate lie which we have to fear (something propaganda) but the half-truth the embellished truth and the truth dressed up to appear a something quite different (The Truth Twisters London 1986/1987) He gives several example of disinformation including subliminal disinformation by which the truth can be twisted so that the distortion is unconsciously absorbed something which both television and radio commentators have subtly perfected (ibid p 9) Voracious readers may also see Propaganda Blitz: How the Corporate Media Distort Reality review: Fake news and lies by Arvind Sivaramakrishnan

Some propagandists camouflage themselves as writers in some prestigious newspaper or flaunt a fake or real connection to some human rights advocacy group or some NGO India s covert fake TV channels have already been exposed by EU-based non-gov-

ernmental organisation EU DisinfoLab It uncovered an India-sponsored fake dis-informational network of 265 fake media outlets in 65 countries including US Canada Brussels and Geneva The network is run by Srivastava Group of India It also ran a think tank called International Institute for Non-Aligned Studies The Institute paid for the travel and accommodation of an unofficial far-right delegation of 23 European Union parliamentarians to Srinagar on October 30 2013 The trip was arranged by Indian –intelligence surrogate Madi Sharma who posed as a self-styled international business broker The delegation s shikara

Chomsky says the American masses are like a bewildered herd that has stopped thinking in Media Control: the Spectacular Achievements of Propaganda In it he asserts that in a “properly functioning democracy” there are a “small percentage of the people a specialised class of citizens who analyse execute make decisions and run things in the political, economic, and ideological systems Chomsky reminds, ‘Woodrow Wilson was elected President in 1916 on the platform “Peace without Victory” right in the middle of the World War I The American population was extremely pacifistic and saw no reason to become involved in a European War The Wilson administration established government propaganda commission, called the Creel Commission, which [through fake

Scientists of different countries are now studying not only the ability of information warfare to affect the values, emotions, and belief of target audiences (traditional psychological warfare theory), but also methods to affect the objective reasoning process of soldiers and civilians That is affecting not only the data-processing capability of hardware and software but also the data-processing capability of the human mind

The Middle East’s ‘1989 moment’

There were public reassurances by several Saudi officials at last week’s forum that the Kingdom’s offer to put its weight

integration with the Arab and Muslim world was on the

Polygon and Cardano while WazirX saw the most activity in

Tether Shiba Inu Dogecoin WazirX, and Matic through 2021 Of course, fluctuations are crazy, Pahwa admits “For those who don’t work at a deeper understanding there is a risk in seeing it only as a get-rich-quick tool But the fact is that India is restrictive in the investing ecosystem it has cultivated So, it is understandable younger people are exploring newer, easier avenues These problems existed, and here pops up a crypto ecosystem with a range that is eye-popping Bitcoin has one use Ethereum works like a smart contract while Matic is trying to make Ethereum more accessible The reason why there s been a stunning rise in crypto trading across non-metro cities is because trading has its own syntax ” she says “It’s a skill that doesn’t have barriers of language or location Young traders who live in smaller cities no longer feel inhibited by their address or lack of expertise in English Buying and selling on the overthe-counter (OTC) desk, or buying bulk crypto, are pretty easy The difference is, instead of matching buyers and sellers the OTC desk acts as a dealer for anybody looking to trade a given asset This comes in handy when a given trade would not be possible on exchanges, for instance Some of the young traders are not even banked because they don’t have enough collaterals The pinch point is limited bank access – banks are uncomfortable providing loans or credit and young people need to find other avenues Crypto provides that Most importantly, trading these coins requires no collateral,” Medha goes on to add “A young Indian, who understands the hum and rhythm of trading can pick up the trends of a coin invest a small amount to begin with and earn a passive income States like Goa and Kerala saw an exceptional rise in trading activity because astute young traders took advantage of relatively lower electricity charges and also

jumped on to the role of peer-to-peer (P2P) merchants The P2P route in trading involves direct cryptocurrency transactions between users without intermediaries or a third party Unlike traditional exchanges, buying and selling crypto on a P2P marketplace does not include charts and market indicators; young traders can purchase and sell coins among themselves This opens up the chain and brings more people into the fold By 2021, the cryptocurrency rage was at its peak Schoolchildren were talking about it, and many were up through the night trading coins While cryptocurrency exchanges do not allow trading for investors younger than eighteen many teenagers found a way to dodge the rules by using their parents credentials Medha also points to the rise in young women trading crypto a healthy sign she believes shows the value and diversity in the crypto-trading community But the numbers there seem to paint a glass half-empty or half-full picture, depending on one s perspective In March 2022, a WazirX survey showed a 1,355 per cent rise in women investors but they still accounted for just 15 per cent of all users Among the women 63 per cent were under 34 years of age and 82 per cent under 44 In terms of geographies, urban centres continued to have a dominant position with most women investors coming from states like Maharashtra Tamil Nadu Karnataka and Delhi The report also showed that women investors preferred Bitcoin whereas men were trading more in Shiba Inu on the platform Other exchanges show similar data At CoinDCX, only 15 per cent of current investors are women; most from metros like Delhi Bengaluru Hyderabad Pune and Lucknow Unocoin and Coinswitch Kuber register roughly the same number while newer platforms like Bitbns and CrossTower had only 10 per cent women investors,

TH E R E were a hectic but fruitful few days in Riyadh this week when the World Economic Forum held a Special Meeting in the Kingdom for the first time It was important not only because Saudi Arabia metaphorically brought the mountain to Mohammed,” and not only because of the A-list policymakers, thought leaders and business executives who were there but also because of its timing The forum took place a few days after the eighth anniversary of the launch of Vision 2030 and what those in attendance witnessed was a coming of age, a revelation of what the new Saudi Arabia stands for What they saw, heard and experienced was the emergence of a new force a force for good prosperity and inclusion This force has now created as described by one of my colleagues who attended a number of forum sessions both on and off the record, the Middle East s 1989 moment That year was a tumultuous one, beginning with the collapse of communism in eastern Europe, ending with the overthrow of dictatorship in Romania and leading two years later to the implosion of the Soviet Union It is fascinating that 35 years after the fall of the Berlin Wall we are witnessing an equally important moment a fork in the road, where many are now going to have to choose which route to take

As US Secretary of State Antony Blinken said last week at his meeting with GCC ministers: “There are really two paths forward for the region as a whole: one driven with division and destruction the other greater integration greater security, greater peace He could not have been more accurate, and there could not be a better time or another chance for stakeholders to make the right decision

The US despite being the world’s superpower has clearly made a choice We have come a long way from the hostile rhetoric that marked the beginning of the Biden administration to public reassurances last week that a Saudi-US security pact was very, very close The past four years have also been an opportunity for both sides to reflect and see how multifaceted the relationship is and could be Apart from military deals everything from space exploration to SaudiAmerican nuclear cooperation is up for grabs This perhaps has been helped by repeated assurances from Saudi officials that our partners in the US will always be given priority, but also a US realization that the Kingdom has other options and lots of them for military technology and business deals Interestingly it seems more likely that a

Friday 3 May 2024 COMMENT 05 N E W crypto users are mostly under 35 and they re skilled – a bulk of those investing are IT professionals MBA graduates, engineers, and start-up owners They re also curious to sample variety, and are investing in things like De-Fi assets and Non-Fungible Tokens or NFTs Another happenstance through 2021 was the entry of many more women traders – local exchanges unanimously reported a rise in the share of women investors to 30-40 per cent, doubling from the previous year ’s figure of 15 per cent By the end of 2021 India had 15 homegrown cryptocurrency exchange platforms furiously working the trading and selling aspect of more than 1 5 crore users According to broker discovery and comparison platform BrokerChooser, over 100 million people were trading cryptocurrencies in India leaving the US and Russia a distant second and third According to the Blockchain and Crypto Assets Council part of the Internet and Mobile Association of India, not only experienced investors, but also youth from tier-2 and -3 cities are among those investing in crypto This young subsegment has invested up to Rs 6 lakh crore in cryptocurrencies Nikhil Pahwa of Medianama analyses crypto s razzle-dazzle effect on India s youth It s the accessibility that makes crypto so beguiling At this point, most entrenched stocks in the stock market are out of reach This (crypto) is like buying a lottery ticket ” he explains A 25-year-old can t dream of buying Meta stock in the US Similarly in India, while demat holders have increased, it s not fast enough, and doesn t seem to have been wide or deep enough either So, instead of putting all your income into slowmoving traffic like fixed deposits if you start managing crypto trading with some high-risk-high-return opportunities young people sense a real opportunity to get rich quick here There are instances where people have made three times more, so they figure this may be worth the risk Once you’ve dipped your toes in currencies can be scaled You could for argument s sake start with Rs 2 lakh and here s the potential to get it to 20 lakh At CoinSwitch Kuber, the most actively traded
Ethereum
coins were Bitcoin Dogecoin
Bitcoin
December 2021
market cap,12 Bitcoin
up nearly half the total crypto universe while Ethereum carves up a quarter That leaves the wide and varied jungle of Altcoins occupying the remaining 40 per cent market share These Alts are literally a dime a dozen in their range and identity Memecoins, for instance, are named after social media jokes and puns – the Dogecoin of course prime among them – where the value comes from community buy-in Then there are forks which as the name suggests are Altcoins born when coders make a significant change in a blockchain s protocol The change alters how cryptocurrencies are recorded traded and received Forks can either tweak the currency slightly branch off into a new type or upgrade the blockchain system enough to render old forms of transactions invalid W h y a r e s o m a n y y o u n g I n di a n s t r a di n g i n c r y p t o c u r r e n c y ?
as of
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makes
H E art of propaganda has had spectacular achievements in recent times The apex court judges are portrayed as stalwarts of one political party or another Judg-
chief is accused of being an election commissioner The US founding fathers used the media to attract recalcitrant states to sign the draft US constitution Not to speak of gullible minds, propaganda influenced even the independent-minded Americans who laid down a constitution beginning with words we the people Thanks to the power of propaganda
ride in Kashmir Lake
dal) pictured Kashmir as a heaven in serene peace Some members however smelt a rat
abandoned the free joyride Sun Tzu s and Kautliya s principles were used not only in the World ar II but also
the Cold War period
hoodwink own and foreign people) Now, technology is being used as a complement to media propaganda Political trolls are touch-me-not The US Army realised the true potency of propaganda during operations in Rwanda Bosnia Kosovo and above all in Somalia US Gen Leigh Armistead says General Aideed of Somalia manipulated the media to keep the militarily superior U S forces offbalance throughout most of the operations during 1993 In fact, with the use of a $600 video camera Aideed changed forever U S foreign policy in the region It was Aideed a true information warrior whose actions in Somalia perhaps more than any other U S military operation, showed the innate power of information By no means is Somalia on par with the United States in a comparison of power of any kind Yet because Aideed effectively used the mass media to his advantage, he in fact controlled the flow of events’ Since that time, IO has evolved to serve as a model for future international relations I quote from Information Operations: Warfare and the Hard Reality of Soft Power Brassey s Inc 2004 p 16) This textbook, taught at US military academies, was produced in conjunction with the US Joint Forces Staff College and the National Security Agency Washington D C Armistead reveals not only the computers connected to the world-wide web but also the air-gapped stand-alone systems are vulnerable to the attack In 1999, President Clinton signed Presidential Decision Directive 68, titled International Public Information, which was an attempt to gain control over the external messages sent abroad from Washington Recall Musharraf s nod to the with us or against us message Scientists of different countries are now studying not only the ability of information warfare to affect the values, emotions, and belief of target audiences (traditional psychological warfare theory) but also methods to affect the objective reasoning process of soldiers and civilians That is affecting not only the data-processing capability of hardware and software but also the data-processing capability of the human mind American researchers are studying the influence of information technology on the minds of civilians and soldiers (combat fatigue youth violence disobedience etc ) Books on social psychology contain research which indicates that a man can be motivated to commit a crime or act against his own conscience or value system The writer is a freelance columnist
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US-Saudi treaty might still proceed even without progress on the Saudi-Israeli front which has a Palestinian aspect that must be respected Israel also has a choice to make As New York Times columnist Thomas Friedman put it the choice is between Riyadh and Rafah The first he writes has a much bigger payoff at the end than the road to Rafah, which will be a dead end in every sense of the term There were public reassurances by several Saudi officials at last week’s forum that the Kingdom’s offer to put its weight behind Israel’s integration with the Arab and Muslim world was on the table The ask? A credible irreversible path to a Palestinian state, as Foreign Minister Prince Faisal bin Farhan said In other words, Israeli Prime Minister Benjamin Netanyahu has a personal choice to make: one is to accept a two-state solution (although nobody said implementing that will be straightforward and many details will need to be ironed out later) and permanently end the Arab-Israeli conflict The other is to be remembered for, and face the consequences of, being a war criminal With so many countries around the world unilaterally recognizing Palestine Netanyahu will only add to Israel’s isolation if he doesn’t accept the genuine offer to climb down from the tree he ascended since Oct 7 His declaration this week that an Israeli ground offensive in Rafah would go ahead with or without a ceasefire in Gaza did not send a reassuring message but then again, that is his choice to make Hamas too has a choice It must decide and decide quickly whether to accept the extraordinarily generous offer of a ceasefire as Blinken put it in Riyadh last week Hamas would be wise to play ball: there are 1 5 million more Palestinian civilians at risk in Rafah, the Qatari mediators in Cairo have shown clear signs of frustration and time is on Israel’s side Why doesn’t the Kingdom apply more pressure on the Palestinians? Well for the same reason the US can t apply more pressure on Israel At the end of the day, you can take the horse to water, but you can t make it drink Moreover, what remains to be done after the Arab-Islamic summit in Riyadh last November at which everyone including Iran committed to a declaration calling for a two-state solution? That was a huge step given that for over 40 years Tehran s declared position was to not even recognize Israel Confounding the many cynics who criticized the Saudi-Iranian detente of March 2023, that declaration was one of the benefits of the working relationship between Riyadh and Tehran Nevertheless Vision 2030 and the Revolution of 1979 are not compatible and also create two paths for regional forces to choose from The positive outcome of the Beijing detente is that, at least for now, it is a matter of each to their own” rather than a permanent standoff between the two countries Indeed, this was always the Kingdom’s position: what changed was that Iran decided to make the choice to extend its hand and commit to non-aggression and respect for national sovereignty Will we see a fully integrated, prosperous Middle East? Will it become the New Europe, as Crown Prince Mohammed bin Salman once said? Well the vision is there – now it is just a matter of choices and consequences Faisal J Abbas is the editor in chief of Arab News
ARAB NEWS FA I s A L J A B B A s
behind Israel’s
table A n exce r p t f ro m ‘Cr y p to Cr i m e s : I n s i d e I n d i a’s b e s t - ke p t s e c re t ’ by M i t a l i M u k h e r j e e

U S D E M O C R AT S P R E S S B I D E N T O

R E V E N T I S R A E L I A S S A U LT O N R A FA H

In 2015, Hungary became the first European country to sign a Belt and Road cooperation document with China Since then their friendship has further blossomed with advances made in political trade and people-to-people relations Addressing a reception hosted by the Chinese Embassy in Hungary to celebrate the 2024 Chinese Lunar New Year in early February, Hungarian Minister for National Economy Marton Nagy hailed the dynamic expansion of HungaryChina cooperation particularly within the framework of the Belt and Road Initiative (BRI) Back in 2010, Hungary launched an economic strategy called “Opening to the East ” and China announced the BRI three years later Hungary s signing of the BRI Memorandum of Under-

standing in June 2015 represented the successful docking of Chinaproposed BRI and Hungary s Opening to the East strategy Construction of a flagship BRI project the Hungary-Serbia railway connecting the Hungarian capital Budapest and Serbian capital Belgrade is now progressing smoothly Work on the Hungarian section commenced in July 2020 and entered the civil engineering construction phase in February 2022 The project is scheduled to be completed by July 2025 The 152-kilometer Hungarian section of the line is being built by a consortium of China Railway No 9 Bureau, China Railway Electrification Engineering Group and Hungarian partners

two cities from eight hours to ap-

pected to lead to the building of

and drive

development

Nagy also highlighted the key

F id y 3 M y 2024 | K AR ACHI 06 NEWS WASHINGTON A G E N C I E S U S President Joe Biden s administration faced renewed pressure on Wednesday from his fellow Democrats to influence Israel not to launch a full-scale invasion of Rafah the city where almost half of the Gaza Strip’s 2 3 million people have taken refuge Fifty-seven of the 212 Democrats in the House of Representatives signed a letter calling on the administration to t a k e e v e r y p o s s i b l e m e a s u r e t o d i ssuade Israeli Prime Minister Benjamin Netanyahu’s government from an allout assault on the city near the Egyptian border We urge you to invoke existing law and policy to immediately withhold certain offensive military aid to the Israeli government, including aid sourced from legislation already signed into law in order to preempt a full-scale assault on Rafah ” said the letter dated Wednesday The White House did not immediately respond to a request for comment on the letter which was led by Representatives Pramila Jayapal and Madeleine Dean Biden s support for Israel in its war against Hamas has emerged as a significant political liability for the president particularly among young Democrats It fueled a wave of uncommitted protest votes in Democratic primaries and has also driven the wave of pro-Palestinian protests at U S universities That is raising worries for Democrats as Biden is locked in a tight re-election rematch against his Republican predecessor Donald Trump Secretary of State Antony Blinken said on Wednesday he had still not seen a plan for Israel s promised offensive on Rafah that would protect civilians, repeating that Washington could not support such an assault Blinken and Netanyahu met in Jerusalem for 2-1/2 hours on Wednesday after which Israel repeated that the Rafah operation would go ahead despite the U S position and a U N warning that it would lead to “tragedy ” The United States is Israel’s main diplomatic supporter and weapons supplier Blinken s visit to Israel came about a month after Biden issued a stark warning that Washington s policy could shift if Israel fails to take steps to address civilian harm, humanitarian suffering and the safety of aid workers
S TA F F C O R R E S P O N D E N T
HUNGARY
T h e r a i l w a y w h i c h i s s e t t o r e d u c e t r a v e l t i m e b e t w e e n t h e
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role of Chinese investments in bolstering Hungary’s economic competitiveness citing the presence of Chinese companies in Hungary such as Huawei and BYD
year,
a record 13 billion euros
1 billion) in foreign direct investment including 7 6 billion euros from Chinese investors According to Peter Holicza, deputy secretary of state for European Union affairs and international relations at the Ministry of Energy economic cooperation between China and Hungary has yielded 8 5 billion euros in investment, 33 projects and over 13,000 jobs in the past five years
WASHINGTON S TA F F C O R R E S P O N D E N T The Chinese Embassy in the US slammed Washington’s latest sanctions against Chinese entities over the Russia-Ukraine conflict saying that China firmly opposes the US imposing unilateral illegal sanctions on Chinese entities, Russian news agency TASS reported on Thursday The US on Wednesday issued a new package of sanctions on hundreds of companies and individuals including more than a dozen Chinese entities for helping Moscow find workarounds to earlier penalties, AP reported on Thursday This is one of the most wide-ranging actions against Chinese companies so far in Washington s sanctions targeting Russia according to Reuters We will uphold the legitimate and lawful rights and interests of Chinese companies,” Liu Pengyu a spokesperson for the Chinese Embassy in the US was quoted by TASS as saying In response to US unwarranted accusations on Chinese entities of supporting the Russian economy and its defense industrial base through trade,” Wang Wenbin a spokesperson of the Chinese Foreign Ministry harshly criticized the US false accusation as hypocritical and highly irresponsible It is hypocritical and highly irresponsible for the US to falsely accuse China over normal trade and economic exchanges with Russia, while passing legislation to provide massive aid to Ukraine Wang told a press conference on April 26 The US Senate on April 23 passed a foreign aid bill totaling $95 billion, with $60 84 billion set aside to support Ukraine US aid to Ukraine and its fresh package of sanctions are the last frenzy as part of its failing Ukraine policy Lü Xiang a research fellow from the Chinese Academy of Social Sciences, told the Global Times on Thursday The Biden administration just wants to put on show its tough stance on foreign policy by imposing illegal sanctions on foreign entities on Ukraine issue However this cannot save their already failing Ukraine policy, Lü added C h i n a s l a m s U S u n i l ate r a l i l l e g a l s a n c t i o n s a g a i n s t C h i n e s e e n t i t i e s ove r R u s s i a - U kr a i n e c o n fl i c t Xi Jinping directs rescue operation, safety overhaul following fatal road collapse in south China BEIJING S TA F F C O R R E S P O N D E N T Chinese President Xi Jinping has urged all-out efforts to rescue and treat those injured after a deadly road collapse in south China s Guangdong Province which has left dozens dead Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, attached great importance to the incident instructing that every effort be carried out for on-site rescue treatment of the injured and properly handling the aftermath Efforts should be made to repair the damaged roads and restore traffic order as soon as possible Xi said adding that all regions and relevant departments must adhere to bottom-line thinking, consolidate work responsibilities, strengthen monitoring and early warning improve emergency plans promptly investigate and deal with potential risks in key areas and key sectors and ensure the safety of people s lives and property and the overall social stability Li Qiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and premier of the State Council, has given instructions to spare no effort in rescuing the injured carry out follow-up work do everything possible to search and rescue trapped persons and strictly guard against secondary risks Li emphasized that the ongoing May Day holiday is the peak of tourism prime time, and with widespread rainfall in some areas, the situation necessitates allout efforts to prevent accidents and disasters The Ministry of Emergency Management the Ministry of Transport and other relevant departments have dispatched working groups to the scene to guide the rescue efforts 20 new buses as par t of People's Bus Ser vice arrive in Karachi KARACHI P R A fleet of 20 new buses as part of People s Bus Service has arrived in Karachi to enhance the best affordable, and comfortable travel facilities for the people Senior Minister of Sindh and Minister for Information, Transport & Mass Transit, Sharjeel Inam Memon announced the good news that the new fleet of buses has arrived at Karachi Port In a statement on social media he said that God willing the Sindh government s transport department will soon initiate new routes to further enhance the travel facilities for the people He emphasized that our focus is on serving the people and providing maximum relief to the peoples of the province Hamas plans to suspend Gaza ceasefire negotiations if Israel attacks Rafah GAZA A G E N C I E S Hamas said on Wednesday that ceasefire negotiations with Israel would be suspended if Israel attacks the city of Rafah in the southern Gaza Strip Osama Hamdan, a senior Hamas official, said in an interview with Lebanon-based al-Manar TV that Hamas would halt all indirect negotiations with Israel if it launches military operations against Rafah Accusing Israel of seeking to blackmail all the parties by its threats of attacking Rafah, the official said the resistance is still having its power to defend our people ” On Monday, a Hamas delegation left Cairo and said they would return with a written response to the latest truce proposal U S Secretary of State Antony Blinken who is on his seventh visit to the Middle East on Wednesday urged Hamas to accept the truce deal which would see 33 hostages released in exchange for a larger number of Palestinian prisoners and a halt to the fighting, with the possibility of further steps towards a comprehensive deal later “Israel has made very important compromises ” he said “There’s no time for further haggling The deal is there They (Hamas) should take it A senior Hamas official said on Wednesday that Hamas was still studying the proposed deal but said Israel was the real obstacle Israel is holding off sending a delegation to Cairo for follow-up truce talks, pending a response from Hamas’ leader in Gaza Yahya Sinwar an Israeli official told Reuters Israel s military chief of staff Herzi Halevi on Wednesday said that the country s offensive operation in Gaza will continue with strength and that Israel was preparing for an offensive in the north Israeli Prime Minister Benjamin Netanyahu has previously said that Israel will enter Rafah and eliminate the Hamas battalions there with or without a deal with Hamas With an Israeli ground operation in Rafah on the horizon, United Nations (UN) aid chief Martin Griffiths said on Tuesday that Israeli improvements to aid access in Gaza “cannot be used to prepare for or justify a full-blown military assault on Rafah ” More than one million people face famine after six months of the conflict the UN has said As night fell on Wednesday Israeli planes and tanks pounded several areas across Gaza residents and Hamas-linked media said Medics in Gaza said at least 27 Palestinians were killed in strikes on Wednesday, with others likely hurt or killed in areas they were unable to reach To speed the flow of humanitarian aid into the besieged enclave the U S military has so far constructed over 50 percent of a maritime pier that will be placed off the coast of Gaza, according to the Pentagon However, U S lawmakers have questioned whether the pier is a worthwhile endeavor On the one hand it will cost the American taxpayers at least $320 million to operate the pier for only 90 days; on the other hand the U S military personnel could become targets of Hamas militants Republican Senator Roger Wicker told Reuters DUBAI A G E N C I E S Schools and many offices were closed across the United Arab Emirates on Thursday as heavy rains returned to the desert country just two weeks after record downpours that experts linked to climate change A lightning storm with high winds swept across the oil-rich monarchy overnight with more than 50 millimetres (two inches) of rain falling before 8:00 am in some areas, the National Centre of Meteorology said Flooding was seen in some parts of financial hub Dubai and the city s airport, the world s busiest by international passenger traffic, cancelled 13 flights and diverted five a spokesperson said State-owned Dubaibased Emirates and sister airline flydubai both warned passengers of delays, as schools switched to remote learning and public-sector offices closed But the rains were not on the scale of April 16 when a record 259 5 mm of rain left four people dead, blocked major roads for days and forced the cancellation of more than 2,000 flights On Thursday, little traffic was seen on Dubai’s normally heaving six-lane highways and cars were abandoned on flooded roads near the sprawling Ibn Battuta mall Trucks pumping water were stationed in several flooded areas, as Dubai s drainage is often unable to cope with large-scale rainfall Last month’s downpour, which also killed 21 people in neighbouring Oman, was the heaviest in the UAE a majority-expatriate federation of seven sheikhdoms since records began in 1949 World Weather Attribution a network of scientists that assesses the role of climate change in extreme weather events, found the deluge was most likely exacerbated by global warming caused by burning fossil fuels S c h o o l s, o ffi c e s s h u t a s h e av y r a i n re t u r n s to d e s e r t UA E
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CORPORATE CORNER

TECNO launches new C AMON 30 S eries in an extravagant Vogue Night

power theft cases in IESCO region

U Bank inks MoU with National S cience & Technology Park

KARACHI: foodpanda, Pakistan s leading delivery platform, proudly sponsored and participated in the Women in Business and Leadership Conference (WIBCON) 24 organised by the Pakistan

ISLAMABAD P R In a significant stride towards fostering innovation and entrepreneurship in Pakistan the National Science & Technology Park (NSTP) at NUST and U Microfinance Bank Ltd (U Bank) have reached an understanding to collaborate for NSTP s flagship programmes, including Hatch8 Incubation Programme and Rising Stars Startup Competition Engr Javed Mahmood

Bukhari Rector NUST and Mohamed Essa Al Taheri, President & CEO U Bank, signed the Memorandum of Understanding (MoU) in a recent ceremony President & CEO U Bank apprised the Rector of various innovative fin-tech initiatives undertaken by his organisation He also commended NUST for its myriad of nation-building initiatives, world-class educational facilities and opportunities it offers to nurture diverse minds and drive

positive societal change Rector NUST appreciated U Bank's commitment and professionalism and expressed confidence that the newly forged partnership would go a long way in nurturing the next generation of innovators and entrepreneurs Both

institutions in addressing the critical challenges of climate change He emphasized the indispensable role of continuous financial support to research in driving technological progress and innovation, not only in agriculture but in other sectors as well

07 NEWS Friday 3 May 2024 K AR ACHI
introduces enhanced security measures to safeguard riders and drivers K A R A C H I: Yango an international tech company present on the Pakistani market with several digital offerings including a ride-hailing service, announces the implementation of comprehensive security enhancements to ensure the safety and well-being of both riders and drivers in the market Recognizing the paramount importance of safety on the country roads Yango has taken proactive steps to fortify its platform and enhance security protocols, reaffirming its commitment to providing a secure and reliable ride-hailing experience for all users Yango has previously already taken several steps to top up the game in the field of safety Now when the passenger uses the application he can view the driver s data (photo name vehicle license plate and score) The app also has a Safety Center to contact local authorities in case of emergency; a button to share the route and trip details; and contact with the support team 24 hours a day Trips ordered via the Yango app are also empowered by speeding control and driving style monitoring aimed to reduce the risk of accidents PR I n n e r D r i ve : A j o u r n ey o f i n n ovat i o n a n d e m p owe r m e n t u nve i l e d i n i n D r i ve D o c u m e n t a r y K A R A C H I: How does a startup born far from the tech epicenters of the world rise tounicorn status? The inDrive documentary sets out to explore this question and more delvinginto the profound journey of the company s evolution and the relentless drive for meaningand purpose that propels it forward In an exclusive reveal, the inDrive documentary offers viewers an intimate look into theessence of the company featuring never-before-seen footage and candid interviews with keyfigures including founder and CEO Arsen Tomsky This special content provides insight intoinDrive's foundational vision and the guiding principles that have shaped its trajectory Far from a typical corporate film, this narrative transcends boundaries to illustrate the rippleeffects of positive change sparked by inDrive's initiatives From grassroots movementsagainst unfair taxi pricing to the global expansion of the world s premier fair ride-hailing app,the documentary showcases the transformative power of collective action PR Zong 4G prioritizes user wellbeing with new S ehatYab Par tnership ISLAMABAD: Zong 4G, Pakistan s leading mobile network operator, is proud to announce a groundbreaking partnership with SehatYab, a leading tele-health platform This collaboration prioritizes user well-being by offering a comprehensive suite of mental health services accessible through the Zong 4G network SehatYab offers comprehensive online mental health services in Pakistan for individuals and corporates, providing confidential consultations with qualified and the best psychiatrists, psychologists, and trainers The Zong 4G and SehatYab partnership provides Zong 4G users with several valuable resources to support their mental health such as Free Online Self-Assessment Tests helping you gain valuable insights into your mental wellbeing with free tests for adults and children These tests cover various areas, including mental health, relationships, and work stress ” PR N u t s h e l l G r o u p a p p o i n t s Fa r e e n a M a z h a r a s c h i e f p u b l i c e n g a g e m e n t o f f i c e r K A R A C H I: Nutshell Group a leading player in Pakistan s communication and strategic engagements domain proudly announces the appointment of Fareena Mazhar as its Chief Public Engagement Officer Fareena served as the Federal Secretary for the National Heritage and Culture Division and the Board of Investment in addition to various senior roles in diverse entities such as the Federal Board of Revenue the Ministry of Commerce the Pakistan Electronic Media Regulatory Authority and the Prime Minister s Office Her appointment represents a pivotal moment in Nutshell s commitment to fostering stronger connections and meaningful interactions with the public sector Fareena is a seasoned professional with over 37 years of experience in Civil Services She retired from the esteemed position of Federal Secretary (BS 22) and has contributed across various roles beginning with the Inland Revenue Service in 1986 PR KARACHI P R TECNO Pakistan s No 1 selling smartphone brand, just launched its much-awaited series of the year CAMON 30 in a grand fashion show called “Vogue Night” on 30th April in Karachi The Camon 30 Series comprising the TECNO CAMON 30 CAMON 30 Pro and CAMON 30 Premier, represents a leap forward in smartphone technology With their sleek and captivating designs, these devices catch the eye from the moment you see them But it s not just about looks; these phones are packed with high-performance specifications, ensuring smooth multitasking, gaming, and media consumption experiences However what truly sets the Camon 30 Series apart is its advanced camera capabilities From crisp portraits to breathtaking landscapes, they cater to the demands of modern smartphone users who prioritize imaging excellence By introducing this series to Pakistani users TECNO is committed to redefining the imaging experience in the region We re incredibly excited about this new series, as it represents the culmination of dedicated effort in crafting a truly groundbreaking product The standout feature of this series is our collaboration with Sony, leveraging their IMX890 sensor and the Sony CXD5622GG Imaging Chip to deliver an exceptional imaging experience We're confident that this smartphone series will surpass all existing phone photography records set by other brands in Pakistan, says Adeel Tahir, Director Sales at TECNO
Yango
Due to the strict implementation of the vision of the Government of Pakistan and the Federal Minister for Energy, Power Division, there has been a significant reduction in the cases of power theft in all the six operation circles of IESCO In the month of April 2024 IESCO and FIA checked 120 010 meters across the region Direct supply of electricity was being taken from 227 meters 19 meters were found tempered For the illegal use of more than 353,893 electricity units, fines of 17 61 million have been imposed on the concerned consumers By registering 230 FIRs police arrested 85 electricity thieves Chief Executive Officer IESCO Dr Muhammad Amjad Khan reiterat-
ing IESCO determination to eradicate the element of electricity theft that undermine the country s economy Consumers can report electricity theft to the helpline number 118 or the Complaint and Monitoring Cell at 051-9252933-34 P R Significant reduction in
parent,
parties also discussed and devised strategies to improve student,
and staff well-being, including the establishment of an endowment fund for underprivileged students
PR OFIT N E W S D E S K P A K Suzuki Motor Company has announced a price reduction of Rs 710,000 on its Swift models The company said in a notice that the new price is effective from May 1 2024 and is in response to current market conditions The revised pricing will see the Swift GL MT model now available for Rs 4,336,000, a decrease of Rs 85,000 The Swift GL CVT’s price has dropped by Rs 159,000, bringing it down to Rs 4 560 000 The most significant reduction is for the Swift GLX CVT which will now cost Rs 4 719 000 down from Rs 5,429,000, reflecting a reduction of Rs 710 000 The company said that these new retail prices include the Federal Excise Duty (FED) and Sales Tax but exclude Advance Income Tax On Monday, Lucky Motor Corporation (LMC) has announced a significant price reduction for the Kia Stonic EX+ in Pakistan According to a recent company s notification, the price has been reduced by Rs 1 513 000 bringing it down to Rs 4 767 000 from the previous Rs 6,280,000 This reduction, effective from April 29, 2024, represents a 24 08% decrease in the price which is unprecedented The company has stated that this price adjustment is only applicable to the Kia Stonic EX+ model with no changes to the prices of other models in its lineup PA K S U Z U K I S L A S H E S P R I C E S O N S W I F T M O D E LS B Y U P T O R S 7 1 0 , 0 0 0 g L I M I T E D -T I M E P R I C E R E D U C T I O N A N N O U N C E D I N R E S P O N S E TO M A R K E T C O N D I T I O N S, E F F E C T I V E M AY 1 , 2 0 2 4 Turkmenistan to expand science and educ ation cooperation with COMSATS University Islamabad I S L A M A B A D:His Excellency Atadjan Movlamov Ambassador of Turkmenistan and Dean of the Diplomatic Corps to Pakistan, accompanied by the Third Secretary, Mr Eldar Permanov paid a visit to the office of Prof Dr Sajid Qamar, Rector, COMSATS University Islamabad (CUI) on Tuesday Prof Qamar warmly received the envoy with the formal meeting attended by CUI s Dean of the Faculty of Business Administration Prof Dr Saqib Gulzar along with Head of the International Office, Dr Hammad Omer In a diplomatic push for making efforts for enhanced bilateral ties with CUI, Ambassador Movlamov expressed Turkmenistan's enthusiastic interest for collaboration with COMSATS University particularly in the realms of science and education The Ambassador emphasized the necessity of facilitating exchange visits, virtual conferences, and meetings between PR ISLAMABAD S TA F F R E P O R T (PR&P PARC) Federal Minister for National Food Security and Research, Rana Tanveer Hussain, paid a visit to the National Agricultural Research Centre (NARC) to gain insights into the cutting-edge research facilities at NARC and have a valuable interaction with the agricultural scientists of the council The Federal Minister commended Chairman PARC and PARC s pivotal contributions to safeguarding food and nutritional security He underscored the historical resilience of agriculture in boosting national economy during periods of economic turmoil The Minister affirmed that the current government is steadfast dedicated to transform the agricultural landscape of Pakistan, emphasizing ongoing initiatives to support agricultural research and technological advancements in agriculture sector to enhance crop productivity as in the past Recognizing food security as a global imperative, the Minister highlighted the significance of Agricultural research
wo m e n’s e m p owe r m e n t at W I B CO N ' 2 4
fo o d p a n d a c h a m p i o n s
Society for Training and Development (PSTD) This influential event attended by an estimated 12001500 participants provided a positive platform for advancing inclusivity and empowering women leaders Muntaqa Peracha, Managing Director of foodpanda, lent his insights to a compelling panel discussion comprising of Male Champions in the CSuite of leading companies The discussion centred on creating inclusive and equitable workplaces that empower women to thrive and succeed The theme of this year s conference Rise in Sync resonated throughout the conversation, emphasising collective empowerment, bridging gaps, and rising together as a society PR U N F PA Pa k i s t a n , S o L F k i c k s t a r t B r AC E P r o g r a m m e t o e m p o we r a d o l e s c e n t s f o r c l i m at e a c t i o n a n d e m e r g e n c y p r e p a r e d n e s s I S L A M A B A D: The United Nations Population Fund (UNFPA) in partnership with the School of Leadership Foundation (SoLF) Pakistan has launched the Building Resilience among Adolescents for Climate Action and Emergency Preparedness (BRACE) programme in Pakistan With a shared commitment to addressing climate change and enhancing community resilience UNFPA and SoLF Pakistan have partnered to launch BRACE a 3-month comprehensive initiative aimed at empowering adolescents for a resilient future with support from the Kingdom of Netherlands This programme is focused on key themes of Climate Change, Resilience Building, and Emergency Preparedness The initiative aims to equip adolescents with the knowledge, skills, and resources needed to navigate the challenges posed by climate change and emergencies in Pakistan PR Federal Minister visits NArC, vows to setup Endowment Fund for agric ultural research The Asian Development Bank (ADB) mission visited Federal Board of Revenue (FBR) on Thursday and met FBR leadership who have been assisting in the implementation of the Domestic Resource Mobilization Program (DRM) The mission was led by Mr Tariq Niazi Senior Director ADB from Manila and included Mr Laisiasa Tora, Senior Public Sector Management Specialist, Ms Sana Masood (Economist) and Ms Farzana Noshab (Economist) Mir Badshah Khan Wazir Member (IR Operations) Mr Ardsher Salim Tariq, Member (Reforms and Modernization), Mr Qasim Raza Member (IT), Mr Karamatullah Chaudhry, Member (Digital Initiative) and Arbab Muhammad Tariq Member (Legal-IR) were also present in the meeting The mission s objectives included discussion on structural and policy reforms under the DRM Program funded by the ADB The ADB showed satisfaction on the successful rolling down of the DRM Program It was noted that significant achievements were made in the Sub Program I of the DRM program and due to the dedicated efforts of FBR, $300 Million was disbursed by ADB to the Government of Pakistan in December 2023 Subprogram I laid down the foundations for improved A sian Development Bank mission visits F B r

Three terrorists who abduc ted judge

k

illed in Tank IBO: ISPR

Three terrorists involved in various terrorist activities including the kidnapping of the District and Sessions Judge were killed in an intelligence-based operation (IBO) of the security forces in district Tank on Thursday, the Inter-Services Public Relations (ISPR) said

According to the military’s media wing the security forces on a tip-off regarding the presence of terrorists conducted a joint operation

An intense exchange of fire took place during the operation in which three terrorists including ringleader Azmat alias Azmati, Karamat alias Hanzla and Rehan ISPR said

According to the Inter-Services Public Relations (ISPR) during the operation, following a fierce exchange of gunfire, security forces successfully neutralized three terrorists including ringleaders Azmat alias Azmati Karamat alias Hanzla and terrorist Rehan The slain militants remained

LAHORE A P P

Prime Minister Shehbaz Sharif underscored his deep appreciation for the invaluable contributions of laborers and workers to the national economy Speaking at a gathering of laborers and workers from diverse sectors at his residence in honor of International Labour Day he called upon the affluent businessmen investors and industrialists to prioritize enhancing the conditions of workers

Acknowledging the challenging economic landscape, the PM assured that the government remained steadfast in its commitment to steering the nation toward brighter prospects through concerted efforts and genuine dedication

He expressed optimism that Pakistan would emerge as a formidable force, propelled by a fair system rooted in the diligent efforts of both employers and employees including workers

Furthermore Shehbaz emphasized the government s determination to instigate significant transformations within the national economy and to reclaim billions of rupees lost to corruption

Referring to his recent visit to Saudi Arabia Shehbaz emphasized that Crown Prince Mohammed bin Salman and other Saudi leaders expressed a strong desire to see Pakistan progress on the path of development He announced that a delegation of Saudi business and investors would soon visit Pakistan fostering increased business

“actively involved” in several terrorist activities in the area including the recent abduction of a district and sessions judge of South Waziristan district the military s media wing stated It further asserted that the security forces remain determined to eliminate the menace of terrorism from the country

Earlier on Saturday Sessions Judge Shakirullah Marwat stationed in South Waziristan was abducted by unidentified kidnappers

activities and job opportunities in the country

Looking ahead to the upcoming fiscal budget the PM pledged efforts to provide additional relief to the labor class recognizing their invaluable contribution to the nation s prosperity

In a call to action directed at business leaders and the affluent, he urged them to extend their vision beyond personal interests and investments He encouraged them to allocate resources towards education and healthcare projects aimed at uplifting the disadvantaged, mirroring initiatives seen in developed nations

Quaid-e-Azam Muhammad Ali Jinnah led a massive movement in which the people offered huge sacrifices The motive was the establishment of a welfare state in which everyone would have equal opportunities to excel in life on the basis of one’s capacity and ability and take the country forward he added

The prime minister reiterated that they were striving to end corruption and promised that all the organs of government and other state institutions with their collective efforts would carve a niche for Pakistan among the comity of nations

He said that the labourers and workers worked hard in the most difficult conditions and helped their employers generate their businesses

Both were like the wheels of the same carriage and their work led to progress and prosperity of

near a village located at the junction of Tank and Dera districts on Dera Ismail Khan’s Tank Road He returned home safely the Counter-Terrorism Department (CTD) confirmed on Monday The police added that the judge was recovered without making any deal with the abductors The judge was recovered after a local jirga intervened However the provincial or district administration did not share any details or official statement in this regard

the nation and country He said if the workers were deprived of their due rights a country could not achieve progress

The prime minister opined that due to price hikes and inflation life for the common man had become hard

The prices of petroleum products had been reduced but it could not be a substitute for the daily price hike as the labour class had to meet the requirements of education for their sons and daughters treatment for their parents, and other daily expenditures and were living from hand to mouth, he observed

The prime minister emphasised that under the teachings of the Holy Quran and the Prophet s (Peace Be Upon Him) messages, it was their abiding duty to bridge the differences between the rich and the poor The prime minister recollected that his father was also a worker who attained his earlier education in Amritsar and during the 1930s settled in Lahore where he worked along with his brothers in a steel factory

He also recited Dr Allama Iqbal’s verse about the plight of labourers and workers and said that these couplets represented a powerful message reflecting the voice of millions of workers in Pakistan

The labour day started after the Chicago incident and then the movement became global, he said, adding that the Quranic teachings and the Seerah of the Holy Prophet (PBUH) highlighted the value of hard work

Bushra was placed under house arrest at her residence in Bani Gala on January 31, following her conviction in the infamous Toshakhana case The authorities had declared the Bani Gala residence a sub-jail to confine the former first lady at the request of Adiala jail superintendent

ment s lawyer said Bushra was transferred to Bani Gala for threat in jail Justice Aurangzeb said he would be overjoyed if he was “willingly” confined to his house and questioned how a prisoner ’s property could be made a sub-jail without their consent

the court said the process of declaring the residence a sub jail was completed within few hours The superintendent jail, the court remarked, relayed they could not accommodate Bushra as the jail was already overcrowded Apparently, it was already decided that she had to be transferred to Bani Gala it added Justice Aurangzeb posed an array of questions on declaring Bani Gala a sub jail, asking the state counsel if its notification was prepared in a minute Don t you feel it was already decided that Bushra Bibi had to be transferred (home)? How many women

Published by Asad Nizami at Plot No 66-C, 1st Floor, 21st Commercial Street, Phase-II (Extension), DHA Karachi and printed at Ibn-e-Hassan Printing Press, Hockey Stadium, Karachi, for PT Print (Pvt) Limited Ph: 021-32640318 Email: newsroom@pakistantoday com pk PRAYER TIMINGS FA J R S U N R I S E Z U H R A S R M AG H R I B S H A 4:30 5:18 1 30 5:15 6:45 8:30 Fr day 3 May 2024 NEWS ISLAMABAD S TA F F R E P O R T C A L L S for the formation of the full court to take up the Islamabad High Court judges letter case grow as the Pakistan Tehreek-i-Insaf (PTI) also has put forward the demand At a press conference PTI central information secretary Raoof Hasan said the party demand formation of a full court to hear the all-important letter issue on a daily basis Going a step further, Hasan said Chief Justice of Pakistan Justice Qazi Faez Isa should dissociate himself from the bench He said the meddling allegation was a serious matter and the full court should hear it The CJP claimed there was no meddling in judiciary despite the fact that even a common man was aware of this he said He also hit out at the Punjab government for torturing and arresting wheat farmers and denying them their due right Former GB chief minister Khalid Khursheed and PTI core committee member Advocate Abuzar Salman Niazi were also present O P P O S I T I O N A L L I A N C E D EM A N D: A day earlier, the leaders of the Tehreek-e-Tahafuz-e-Ayeen-e-Pakistan (TTAP) a grand alliance of six opposition parties demanded that the matter pertaining to the judges letter should be heard by a full court bench of the Supreme Court and those responsible for meddling in judicial affairs be taken to the task Mahmood Khan Achakzai presided over the meeting attended by former National Assembly speaker Asad Qaiser Balochistan National Party (BNP) chief Sardar Akhtar Mengal and others, which conducted a comprehensive review of the country’s political landscape and engaged in discussions regarding the complaints raised by six judges about alleged intervention of intelligence agencies in judicial matters Several Bar associations and other lawyer bodies also want the apex court to entrust the case to the full court
bENCH
Omar Hamid reappointed Secretar y ECP for two-year term ISLAMABAD S TA F F R E P O R T The Election Commission of Pakistan (ECP) has reappointed Omar Hamid Khan as its secretary for the period of two-year term According to a notification issued here on Thursday retired BS-22 officer of the Secretariat Group Omar Hamid Khan had been reemployed as Secretary for a two-year term in the public interest, in accordance with Rules 8 & 11 of the Election Commission (Officers and Servants) Rules 1989 The development comes after the incumbent secretary Asif Hussain who was appointed in January of this year resigned due to health issues The notification regarding Hussain s resignation stated that the officer tendered the resignation on account of poor health condition Hussain assumed the additional responsibility of secretary (BS-22) following Omar Hamid Khan’s resignation in January this year due to health reasons Pakistan urges UN to reconsider Palestine’s full membership bid amid US veto UNITED NATIONS S TA F F R E P O R T Pakistan has called on the United Nations General Assembly to push the Security Council to reconsider and recommend Palestine s application for full membership of the UN to rectify the historic injustice against the Palestinian people “The admission of the state of Palestine as a full member of the United Nations would constitute a concrete political step towards the two-state solution and towards rectifying the historic injustice against the Palestinian people, Ambassador Munir Akram said in a meeting sparked by a US veto, which blocked an Algerian resolution on 18 April that would have granted Palestine UN’s membership The meeting was necessitated by “the veto initiative” the informal name for a resolution adopted by the Assembly in April 2022 titled Standing mandate for a General Assembly debate when a veto is cast in the Security Council According to the measure, which was put forth following the repeated wielding of the veto at the Council blocking action on other situations the General Assembly has a standing mandate to convene within 10 working days of a veto being cast in the Council Palestine is a Permanent Observer State at the UN meaning that it can participate in all UN proceedings, except for voting on draft resolutions and decisions in its main organs and bodies In his remarks, the Pakistani envoy said “The veto cast against Palestine’s admission erodes the credibility of the assurances that have been held out of support for the two-state solution The diplomacy now underway for peace in Palestine, in Israel and the region would gain considerable momentum if the veto was lifted and Palestine’s admission to the United Nations recommended by the Security Council ” Ambassador Akram appealed to the United Nations and the international community at large to enforce an immediate ceasefire in Gaza; guarantee unrestricted access to humanitarian aid; prevent further escalation of the conflict; provide international protection for the Palestinians; revive the peace process and hold Israel responsible for its war crimes and crimes against humanity ISLAMABAD S TA F F R E P O R T The Islamabad High Court (IHC) on Thursday reserved its verdict on a plea filed by ex prime minister Imran Khan s wife Bushra Bibi seeking transfer from the Bani Gala sub-jail to the Adiala jail IHC Justice Miangul Hassan Aurangzeb reserved the verdict after hearing the arguments The former first lady’s lawyer Usman Gul while presenting arguments before
have been brought to Adiala jail, after sending Bushra Bibi home? he inquired The IHC judge questioned if the 141 women brought to the jail after that have lesser rights “Why don’t you send the other women home as well? he asked Responding to the judge the govern-
PTI jOINS CHOrUS CallINg fOr fUll COUrT
TO HEar all-ImPOrTaNT lETTEr CaSE
On February 6, Bushra had challenged the authorities move to imprison her at Bani Gala to serve a 14-year sentence in the case In the petition, Khan’s wife maintained that like other political workers of the party she was ready and willing to serve her sentence in the Ordinary Jail Premises at Adiala Jail rather than the declared sub-jail at her residence Moreover, the former first lady felt unsafe” being confined alone in the premises of the sub-jail due to the potential security issues The wife of the Pakistan Tehreek-e-Insaf (PTI) founder had said the special treatment meted out to her went against the spirit of equality guaranteed under the Constitution and was consequently discriminatory In view of the stated reasons the petitioner had pleaded with the court to set aside the notification to declare her house sub-jail and shift her to Adiala jail in the “interest of justice” IHC reser ves verdic t on petition for Bushra Bibi ’s transfer to Adiala jail PR OFIT A H M A D A H M A D A N I Despite surplus domestic stocks the import of more than 35,87,373 metric tons of wheat from September 2023 to March 2024 has allegedly caused loss of $1 billion of foreign exchange to the country, it was learnt on Wednesday According to sources the Ministry of National Food Security has facilitated the import of wheat allegedly in league with flour mafia and wheat importers and defrauded the country of more than one billion dollars of foreign exchange This import has inflicted a loss of above Rs 300 billion to the farmers and Rs 104 billion to the government exchequer, according to sources privy to the development Sharing details the sources said wheat stocks with PASSCO and provincial food departments were 43 65 220 metric tons on April 1 2024 and there was no need for private import of wheat They said as the private sector and flour millers imported wheat, PASSCO and provincial food departments could not sell their stocks of 43 65 220 metric ton and have incurred average incidental charges of Rs 950 per maund/40 kg and total loss to government because of incidental amounted to Rs 104 billion which has allegedly indirectly gone to the pockets of flour millers, traders and bureaucracy They said due to unnecessary and unwanted import, prices of wheat have crashed to Rs 2800-3000 per maund against government price of Rs 39 000/maund and the farmers will be forced to sell 50 percent i-e 16 million metric tons out of estimated 32 million metric tons of total produce as government is allegedly purchasing very little wheat Thus, more than Rs 300 billion will allegedly be looted from the farmers and will go to the pockets of flour millers, import traders and bureaucracy, said sources The import was kept uncapped and ships continued to dock at Karachi even during the entire month of March 2024 when wheat from Sindh province was coming to market the sources added It is also learnt from the sources that 71 cargos of wheat were imported from Russia, Ukraine, Bulgaria and private importers continued the import of wheat till March 31 instead of March 15 They said that over 3 5 million tons of wheat was imported under the pretext of importing one million tons of wheat They said live insects were found during the inspection in 26 cargoes of wheat out of 71 cargoes of wheat imported from September 2023 to March 2024 Inspection of imported wheat was done by a subordinate department of the Ministry of National Food Security said sources Despite surplus domestic stocks, unnecessar y wheat import leads to $1b loss RAWALPINDI S TA F F R E P O R T
PM c alls on elite to lif t
class Pakistan launches historic lunar mission today ISLAMABAD A P P Pakistan is set to embark on a ground-breaking lunar mission, as the country s historic ICUBE-Q satellite prepares for launch on Friday The satellite will be carried aboard China’s Chang’E6 spacecraft, scheduled to depart from Hainan China at 1250 PST According to the Institute of Space Technology (IST) the satellite ICUBE-Q has been designed and developed by IST in collaboration with China s Shanghai University SJTU and Pakistan s national space agency SUPARCO ICUBE-Q orbiter carries two optical cameras to image the lunar surface Following successful qualification and testing ICUBE-Q has now been integrated with the Chang’e6 mission Chang e6 is the sixth in a series of China s lunar exploration missions The launch activity will be telecast live on the IST website and social media platforms Chang 6 will touch down on the moon’s far side to collect samples from the surface and return to Earth for research The mission holds significance for Pakistan as it will also take a Pakistan CubeSat Satellite iCube-Q developed by IST CubeSats are miniature satellites typically characterised by their small size and standardised design They are constructed in a cubic shape, consisting of modular components that adhere to specific size constraints g M I N I S T R Y O F F O O D, A L L E G E D LY I N L E A G U E W I T H F LO U R M A F I A A N D W H E AT I M P O R T E R S, FA C I L I TAT E D I M P O R T O F 3 5 , 8 7 , 3 7 3 M E T R I C TO N S O F W H E AT F R O M S E P T E M B E R 2 0 2 3 TO M A R C H 2 0 2 4
labour
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