CRITICAL AIR POLLUTION PROMPTS PRIMARY SCHOOLS CLOSURE FOR A WEEK
S A L E E M J A D O O N
TH E Punjab government on Sunday announced a weeklong closure of all primary schools (up to fifth grade) in Lahore to avoid children exposure to air pollution several times above levels deemed dangerous amid worsening smog crisis The decision made in response to the deteriorating air quality and worsening smog conditions across Punjab, particular in Lahore , Senior Provincial Minister Maryam Aurangzeb the announced on Sunday emphasizing the need for prioritize the health and safety of students amid the ongoing environmental crisis
For days, Lahore has been blanketed in smog, a mix of fog and pollutants caused by low-grade diesel fumes,
smoke from seasonal agricultural burning and winter cooling
The air quality index which measures a range of pollutants exceeded 1,000 on Saturday well above the level of 300 considered dangerous according to data from IQAir
The Punjab government also recorded peaks of over 1 000 on Sunday considering as unprecedented
The decision comes as Lahore continues to gasp in severe air pollution levels, which have assumed alarming proportions, significantly affecting the health of residents, especially children Reports indicate that Lahore has consistently ranked among the most polluted cities globally prompting urgent action from authorities Maryam Aurangzeb urged parents and caregivers to ensure children remain indoors as much as possible during this
The environmental protection authorities efforts to reduce air pollution in the provincial metropolis have been hindered by inadequate infrastructure for real-time air quality monitoring in Lahore The air pollution has reached unprecedented levels in Lahore this season and on Saturday and Sunday the city s
period and to take necessary precautions, such
with
PM encourages UK investors to explore Pakistan’s potential for ‘fruitful ventures’
Minister Muhammad Shehbaz Sharif has praised the Frontier Constabulary (FC), the Counter-Terrorism Department (CTD), and police officers for their successful operation against terrorists belonging to banned Balochistan Liberation Army (BLA) An official statement issued here on Sunday said the PM lauded the forces for their achievement in eliminating three terrorists and apprehending two others, preventing what could have been a major act of terrorism in Balochistan
of
and restoration efforts in Pakistan Official documents indicate that IFRAP signed on July 3 2023 is designed to revive and improve the livelihoods of communities affected by the devastating floods of 2022, while bolstering their capacity to withstand future extreme flooding To date the project has disbursed approximately $22 38 million with a closing date set for December 31 2028
The project aims to restore critical services such as housing, water and sanitation, transportation, agriculture, and irrigation, while laying the groundwork for long-term flood resilience through enhanced institutional and informational frameworks IFRAP comprises six components including a Contingent Emergency Response element focused on rehabilitation and resilience in flood-damaged areas particularly in Balochistan The Ministry of Planning Development and Special Initiatives (MoPDSI) serves as the implementing body supported by a Federal Project Management Unit (FPMU) based in Islamabad, with much of the implementation taking place in Balochistan To streamline project execution the proposed restructuring includes adjustments to the withdrawal categories
in Section III of the Second Schedule of the Financing Agreement and revisions to the Disbursement and Financing Instruction Letter (DFIL) This will facilitate the establishment of a designated account for Housing Reconstruction Unit (HRU) activities
The incorporation of the HRU under the IFRAP will necessitate the opening of a separate designated account which will require distinct Interim Unaudited Financial Reports (IUFR) and annual financial statements A dedicated Financial Management Specialist (FMS) will oversee the HRU’s functions providing oversight and ensuring proper documentation of expenditures Additionally a new HRU has been established in Quetta, functioning as an extension of the FPMU to implement Component 3, which focuses on housing reconstruction and restoration The HRU will manage and monitor the performance of implementing partners who are in the final selection stages
The HRU will also collect Damage Assessment and Verification (DAV) data from implementing partners, conduct spot checks and oversee the technical inspections necessary for
releasing housing reconstruction subsidy grants Centralized bank accounts will be set up in commercial banks of the beneficiaries choosing to facilitate direct transfers of housing reconstruction grants, eliminating the need for third-party involvement
This restructuring aims to establish a robust financial management system specifically for the housing subsidy anticipated to involve over half a million small transactions Currently, the DFIL restricts the establishment of a separate designated account for the HRU, requiring all disbursements to pass through the FPMU
This centralized approach could lead to inefficiencies and delays in fund distribution
Amending the withdrawal categories and updating the DFIL will grant the HRU direct access to funds, resulting in a more streamlined financial management system This change will empower the HRU to operate more independently allowing for quicker responses to the project s demands and enhancing the overall efficiency of Component 3 s implementation The proposed amendments will align the financial management structure with the operational needs of the HRU
i
In a key meeting under the Special Investment Facilitation Council (SIFC) has directed the Petroleum Division to extend the Upgradation Agreements deadline and resolve the ongoing sales tax issue for refineries by November 10, 2024
According to sources privy to the development the SIFC’s working group on downstream policy met on October 22 2024 led by Dr Jehanzeb Khan Special Assistant to the Prime Minister and Chairman of the SIFC Apex Committee The meeting brought together top officials from the Oil and Gas Regulatory Authority (OGRA) Federal Board of Revenue (FBR) and CEOs of key refineries
The refinery sector represented by Adil Khattak Chairman of the Oil Companies Advisory Council (OCAC) and CEO of Attock Refinery Ltd , raised multiple concerns, including the financial strain due to unresolved tax issues the impact of rampant petroleum product smuggling and the uncontrolled import of high-speed diesel (HSD) He emphasized that the resolution of these issues is crucial to the viability of local refineries and the
successful signing of the Brownfield Refinery Policy 2023, which aims to modernize Pakistan’s refinery sector The delay, he noted, has led to an estimated annual foreign exchange loss of $1 billion CEOs from other major refineries participated virtually echoing similar concerns During the meeting OGRA shared updates on efforts to combat petroleum smuggling According to Chairman OGRA, a coordinated approach involving law enforcement agencies district administrations and OGRA is underway The authority recently expanded its inspection team by hiring additional engineers tasked with identifying and shutting down illegal outlets involved in selling smuggled petroleum products
SIFC directed the Petroleum Division to prioritize resolving the sales tax exemption issues impacting refinery profitability According to sources SIFC also underscored the need to support OGRA s efforts to control smuggling and improve regulatory compliance in collaboration with provincial and local administrations SIFC has further instructed the Petroleum Division to work closely with the Finance Division and FBR to address the tax concerns affecting refineries by the November 10 deadline In addition SIFC directed the Petro-
leum Division to present a detailed plan for eliminating illegal petroleum retail outlets and curbing the sale of substandard fuel by November 7, 2024 OGRA was assigned the responsibility of overseeing market fuel quality with instructions
d h a n d B a l o c h i s t a n S i n c e M a r c h 2 0 2 4 c o o r d i n a t e d r a i d s h a v e t a rg e t e d l o c a t i o n s s u c h a s M a r o r a G o t h P e e r A b a d E l l a h i C o l o n y M e t r o v i l l e , M e r c h a n t N a v y H o u s i n g S o c i e t y, J o h a r C o l o n y, Wi l l a y a t a b a d , a n d A r c h i t e c t s S o c i e t y r e s u
S indh CM orders swif t reloc ation of KE struc tures, crackdowns on Malir
Sindh Chief Minister Syed Murad Ali Shah inspecting progress on the 39 889 km Malir Expressway project, directed the relocation of KElectric (KE) installations and removal of illegal encroachments after expressing dissatisfaction with delays affecting the expressway s development
During his site visit from Zero Point near Jam Sadiq Bridge to Kathore, Shah noted the delay caused by KE’s failure to move its installations, hampering the opening of the expressway’s initial segment The Chief Minister accompanied by Mayor Karachi Murtaza Wahab DG PPP Unit Asad Zamin, Project Director Niaz Soomro, and Engineer Khalid Mansoor, commenced his inspection at Zero Point Shah was displeased to see that completed spans intended
Expressway encroachments
for the traffic ramp were still on the ground, uninstalled on the pillars due to KE’s unrelocated overhead installations He instructed the Deputy Commissioner to resolve the issue within a week warning of action if further delays persisted especially since KE had already been compensated for the relocation Driving along the expressway, Shah identified instances of land encroachment on either side of the route Stopping at the site he called in the Deputy Commissioner and SSP Korangi demanding an explanation for the emergence of illegal structures I won t allow encroachments on any government land,” he asserted, ordering the immediate demolition of unauthorized structures and demanding a report
The Chief Minister further instructed the Project Director to ensure that the segment from Korangi Causeway to Shah Faisal
Interchange would be ready by the end of November, aiming for an early December opening for public traffic Shah also inspected the construction progress from Shah Faisal to Quaidabad While the expressway structure was largely complete, he was briefed on a delay at the Quaidabad interchange due to pending land acquisition issues Shah assured that funds had been allocated for this purpose and urged swift payments to landowners to avoid further setbacks in opening Segment II Additionally, Shah examined the construction of toll plazas and triangular parks at the Shah Faisal Interchange and other points instructing officials to landscape the areas with grass and trees for beautification He directed the police department to prepare plans for police checkposts along the expressway to ensure its security
HEC grants 200 scholarships to S ri L ank an students under Allama Iqbal programme
ISLAMABAD
S ta f f R e p o R t
The Higher Education Commission (HEC) of Pakistan has awarded 200 fully and partially funded scholarships to the sixth batch of Sri Lankan students under the Allama Muhammad Iqbal Scholarship Programme
These new awardees join approximately 500 Sri Lankan students already studying in Pakistan’s top universities at the undergraduate MS and PhD levels
A ceremony was held in Colombo to honor the newly selected scholarship recipients, organized by HEC in collaboration with the Pakistan High Commission
The event featured General Shavendra Silva, Chief of Defense Staff, as the chief guest, with Pakistan’s High Commissioner to Sri Lanka Maj Gen (R) Faheem Ul Aziz also in attendance according to a press release Speaking on behalf of the HEC Chairman Jehanzeb
Khan, Project Director of the Pakistan-Sri Lanka Higher Education Cooperation Programme, congratulated the students and outlined the scholarship’s aims He underscored the role of education in fostering regional economic stability and deepening cooperation between the two countries High Commissioner Faheem Ul Aziz highlighted the scholarships as a testament to the strong, brotherly relationship between Pakistan and Sri Lanka He encouraged students to embrace the opportunity with determination, reminding them of their role as cultural ambassadors “Engage with your peers share your experiences and serve as a bridge between our nations he advised emphasizing the value of knowledge in navigating global challenges
The ceremony was attended by prominent figures, including business leaders, academics, government officials, and parents of the awardee students, reflecting broad support for this educational initiative
and
PIA and the provinces
ON E of the effects of the bid of Rs10 billion made by the sole bidder at the auction on October 1 for PIA has been that the KP and Punjab governments have expressed an interest The KP government s Board of Investment Vice-Chairman has written to the Government of Pakistan expressing desire to take part in the bidding process and then to say that the KP government would be willing to top the Rs10 billion bid for it PML(N) President Mian Nawaz Sharif in New York has told reporters that he had advised his daughter Mariam Nawaz who is Punjab CM that the Punjab government should either buy PIA and rebrand it or set up a new airline called Air Punjab It is to be wondered why an astute businessman as Mr Sharif was, should think it was a good idea for the Punjab government to get into aviation at a time when the industry is in freefall
It is only to be assumed that he and Ms Nawaz are looking at the example of Air Sial, the private airline launched in 2020 by the Sialkot Chamber of Commerce and Industry, which had first built an airport at Sialkot One question they have to answer, as does the KP government, is where the money is coming from How much money? Obviously more than Rs10 billion, and nearer to the Rs85 billion set as the reserve price Does either province have that kind of money to spare? Even if either had that sort of cash the sources bear thinking about There is only provincial tax revenue; the rest are federal transfers (mostly under the NFC Award) for non-development expenditure and cash development loans from the federal government for development spending (mostly foreign loans, as the provinces cannot borrow directly) The Punjab government has already filed to meet its commitment to a surplus, with the result that the federal government is going to miss one of its targets for a successful IMF review
The IMF will probably have something to say about both offers First, neither has offered a proper business plan It
A complicated global economic outlook
Much could go wrong
A
Ea global economic recovery For instance the World Bank Group’s October 2024 Commodity Markets Outlook remains optimistic for continuation of fall in oil prices whereby it points out The energy price index is projected to fall by 6 percent in 2024 (y/y), followed by further declines of 6 percent in 2025 and 2 percent in 2026 The forecast assumes that there is no prolonged additional escalation of ongoing armed conflicts global economic growth remains stable and oil supply from non-OPEC+ producers steadily expands Having said that this optimistic scenario could quickly turn on its head if the conflict situation in the Middle East escalates further Oil supply disruptions could start stagflationary consequences globally, and with higher import payments that could mean difficult balance of payments and debt sustainability issues for net oil importers like Pakistan The World Economic Outlook: policy pivot rising threats (WEO) released last month by International Monetary Fund (IMF) indicated that while growth globally remains as per projected, yet when seen over the medium term, it is still less than the prepandemic average; while growth recovery remains more challenging for developing countries The Report points out in this regard Global growth is expected to remain stable yet underwhelming At3 2 percent in 2024 and 2025, the growth projection is virtually unchanged from those in both the July 2024 World Economic Outlook Update and the April 2024 World Economic Outlook The latest forecast for global growth five years from now – at 3 1 percent –remains mediocre compared with the prepandemic average Persistent structural headwinds – such as population aging and weak productivity – are holding back potential growth in many economies The negative supply shocks to the global economy since 2020 have had lasting effects on output and inflation, with varied impacts across individual countries and country groups The sharpest contrasts are between
advanced and developing economies Whereas the former have caught up with activity and inflation projected before the pandemic, the latter are showing more permanent scars With regard to Pakistan, the WEO report projected real GDP growth at 3 2 percent for 2024-25; in turn showing a small increase from growth projected for 2023-24 at 2 4 percent This indicates that it took very strong curtailment of aggregate demand through the country adopting acute monetary- and fiscal austerity policies, has only allowed a rather weak increase projected real GDP numbers for the current fiscal year Hence, for Pakistan as well economic outlook remains very complicated given inflation has strong aggregate supply determination and therefore any significant increase in oil prices in case conflict situation worsens in the region – something that is quite likely –could lead to stagflationary consequences It is in this regard, that the projection for CPI inflation for the current fiscal year by the IMF in the
A diplomatic oppor tunit y for Pakistan
oppression Similarly, the 2024 election has also raised concerns about legitimacy and fairness
Tconstitutional provision It is worth mentioning here that such election results strengthen Pakistan’s narrative that the people of Kashmir demand their original identity and autonomy alongside their right to self-determination as has been guaranteed by the resolutions of the UNSC The electoral results provide Pakistan with new evidence to argue its case in international forums, such as the United Nations (UN) and the Organisation of Islamic Cooperation (OIC) to advocate that the mandate of the Kashmiri people is against BJP-imposed oppressive political changes Being the advocate of the human rights of the Kashmiri people, Pakistan has been raising the issue of human rights violations in the occupied territory
This election result will be a decisive moment not only for the occupied Kashmir but for Pakistan as well as it is a firm supporter of Kashmiris right to self-determination claim over the whole of Indian Occupied Kashmir In 1987, the election was marred with widespread rigging and electoral fraud, which further fuelled the Kashmiri movement for freedom against Indian
Local political parties have accused the BJP of electoral gerrymandering by including 2 3 million non-Kashmiri voters and adding new seats in the local legislature with most of them being in Hindu-majority areas, to marginalise and disenfranchise the Muslim population of the Occupied Valley The election results have also highlighted the dissatisfaction of Kashmiris with Indian rule
The result of the 2024 election mirrors the Lok Sabha election of 2019 where the BJP managed to secure two seats in the Hindu-majority Jammu area However, it was defeated in the Kashmir valley, which is a Muslim-majority region This trend will continue to shape the political future of the region as the people of Kashmir have put their support behind regional parties that are in favour of Kashmir s autonomy This offers Islamabad the diplomatic ammunition it needs to amplify its efforts to gain international support for the struggle of the people of Kashmir against Indian oppression The result clearly demonstrates that whenever given the opportunity to express their opinion the Kashmiris would always reject India
Dr Zaheer Abbas is an Associate Senior Researcher at the Centre for Aerospace & Security Studies, Lahore He can be reached at info@casslhr com
The result of the 2024 election mirrors the Lok Sabha election of 2019, where the BJP managed to secure two seats in the Hindu-majority Jammu area. However, it was defeated in the Kashmir valley, which is a Muslim-majority region. This trend will continue to shape the political future of the region as the people of Kashmir have put their support behind regional parties that are in favour of KashmirÊs autonomy.
Winter’s prelude
Digital setbacks
Dr Zaheer abbas
The Indian-Held K ashmir Elec tion 2024
Perspectives of social securit y for women: Need and challenges
career breaks and part-time work Reforms are needed to ensure adequate old-age support
SURVIVOR BENEFITS: Spouses, especially women who outlive their partners rely on survivor benefits to ensure economic stability in later years
NON-CONTRIBUTORY PENSIONS:
Some countries provide pensions to individuals who may not have contributed enough to formal pension systems, benefiting homemakers
D SOCIAL PROTECTION FOR INFORMAL WORKERS
SUPPORT FOR INFORMAL SECTOR WOMEN: Many women work informally (e g , domestic work) without access to social security Extending coverage to this sector is essential
MICROINSURANCEAND COOPERATIVES: These schemes offer financial protection to women without formal employment covering health emergencies or old-age income needs
E CAREGIVING AND SOCIAL SUPPORT SERVICES
CHILDCARE SUBSIDIES: Governments may provide subsidies or public childcare services to support working women ELDERLY CARE BENEFITS: Since women are often primary caregivers for elderly family members providing care allowances and services helps reduce their financial burden Thus ensuring robust social security for women requires targeted policies that address structural inequalities and provide comprehensive support across their life cycle Women face unique economic and social challenges that create the need for strong social security measures The key causes that highlight why women require social security include:
A ECONOMIC DISPARITIES AND GENDER PAY GAP
LOWER WAGES: On average women earn less than men for similar work leading to reduced lifetime earnings and savings
FEWER PROMOTIONS AND JOB STA-
BILITY: Women are underrepresented in
higher-paying leadership roles, often resulting in income insecurity PART-TIME AND INFORMAL WORK: Many women work in part-time or informal jobs without benefits social insurance or job security
B CAREGIVING RESPONSIBILITIES
UNPAID WORK: Women disproportionately take on unpaid domestic work, reducing their participation in formal employment
CAREER BREAKS: Maternity and caregiving responsibilities for children or elderly relatives often force women to pause their careers, affecting their financial stability and retirement savings
IMPACT ON PENSIONS: Fewer working years and lower contributions to pension funds result in smaller pensions during old age
C HEALTH AND MATERNITY NEEDS
MATERNAL HEALTH COSTS: Pregnancy and childbirth bring significant healthcare expenses, which can be financially burdensome without adequate social support
REPRODUCTIVE HEALTH SERVICES: Women require access to contraception maternal healthcare and other reproductive health services to maintain well-being
HIGHER LIFE EXPECTANCY: Women typically live longer than men, which increases their need for long-term healthcare old-age pensions and social support
D LIMITED ACCESS TO FINANCIAL RESOURCES
GENDER BARRIERS IN FINANCIAL
SYSTEMS: Women often face barriers in accessing credit loans and banking services reducing their economic opportunities
INFORMAL SECTOR EMPLOYMENT:
Many women work in sectors like domestic work, agriculture, or self-employment, which typically lack formal social security coverage
E SOCIAL INEQUALITIES AND DISCRIMINATION
WORKPLACE DISCRIMINATION:
Gender discrimination in the workplace limits women s career advancement and earnings
LEGAL INEQUALITIES: In some regions, laws governing inheritance, property rights, and social benefits are biased against women, further increasing their vulnerability
MARGINALIZED GROUPS: Women from minority communities or rural areas face multiple layers of inequality making social security access even more crucial
F OLD AGE AND LONGEVITY ISSUES
LONGEVITY RISK: Women live longer than men which means they need savings or pensions that last longer to avoid outliving their resources
HEALTHCARE NEEDS IN OLD AGE:
Older women often require long-term care services, which are expensive without health insurance or social support
ISOLATION AND WIDOWHOOD:
Many elderly women live alone increasing their dependence on social security for sustenance and health support Given the combination of economic, social, and health-related challenges, social security systems are essential for women to maintain dignity security and well-being throughout their lives The provision of effective social security for women faces several challenges due to systemic inequalities, social norms, and institutional barriers
The key challenges that impact the reach and adequacy of social security systems for women include:
A INADEQUATE MATERNITY AND HEALTHCARE COVERAGE
INSUFFICIENT MATERNITY BENEFITS:
Many women particularly those in informal or part-time jobs do not receive paid maternity leave or income support during pregnancy HIGH HEALTHCARE COSTS: Reproductive health services, including maternal care, are often expensive or inaccessible, especially in low-income areas GAPS IN HEALTH INSURANCE COVERAGE: Women in informal
LACK
Donald Trump’s billionaire boys club
a p p y t o b e t r ay d e m o c r a c y f o r Tr u m p’s f avo r s a n d f e a r a n d g re e d h e l p ke e p t h e re s t i n l i n e
I t ’s n o t a b l e t h at i n t h e l a s t we e k t wo b i l l i o n a i re s w h o o w n m a j o r n e w s p a p e r s J e f f B e zo s ( Th e Wa s h i n g t o n Po s t ) a n d Pat r i c k S o o n - S h i o n g ( t h e Lo s A n g e l e s Ti
In an interview with Politico in June, Kathryn Wylde president and CEO of the Partnership for New York City offered one of the most illuminating comments on the 2024 election Republicans Wylde said conveyed to her that the threat to capitalism from the Democrats is more concerning than the threat to democracy from Trump Wylde was referring to a particular class of Republicans: very wealthy ones Wylde’s organization is a lobby group for business leaders so it is her job to have a finger on the pulse of the city s tycoons Democrats have made two somewhat contradictory arguments in this election One is the claim that Trump is an authoritarian threat, little less than an American Adolf Hitler This analysis has the advantage of being supported by evidence from those who worked closely with Trump including former chief of staff and retired general John Kelly and former adviser Steve Bannon (who marveled in admiration That s Hitler! when Trump announced his first presidential run in 2015) The second is that, because of Trump s threat to democracy, conventional Republicans (including business leaders) should rally to the Democrats as part of a broad antiTrump coalition Billionaire Mark Cuban, a major surrogate for the Harris campaign has been particularly vocal in making this argument In an interview with MSNBC Cuban said There s really no good reason to vote for Donald Trump as the business candidate In doing business, whether you re a small company or a very large company, you want stability You don t want to be Carrier air and find out that he’s threatening you if you move employees ” Cuban added that business leaders feared Trump’s “retribution” and “vengeance ” Cuban is clearly making a pitch to his fellow billionaires to join the Democratic Party It s an argument that has had some success: According to Forbes, 81 billionaires back Harris, as against just 52 supporting Trump Prominent rich folks backing Harris include Sheryl Sandberg of Meta, media magnate (and former New York
he’s often felt that the holders of established wealth have looked down on him By becoming president Trump has finally made it into the club of the real billionaires who are now his cronies at Mar-a-Lago The extent to which Trump is the candidate of the billionaire class becomes clear when we note that a much higher percentage of his donations come from the very richest Americans As the Financial Times reports: “Trump is particularly dependent on US elites with about a third of the money raised by the campaign and allied groups coming from billionaires compared to about 6 per cent of the funds raised by Harris-aligned groups In other words, Harris could give up her billionaire funding and it would barely make a dent in her coffers, whereas billionaire money is essential for Trump The degree to which the Democratic Party is swayed by rich donors is regrettable But Trump has taken the American political system s habitual deference to money to a new level by pushing for a government where the rich exercise direct power and also by making threats against anyone who publicly opposes him The appeal of this type of plutocracy to the rich explains why a significant chunk of wealthy people are immune to Cuban’s pitch for Harris
Trump likes to praise the America of William McKinley when tariffs were high and regulations almost nonexistent That is the vision he s selling to the rich: a return to the unchecked powers of the Gilded Age
The ultrarich have a great instinct for self-interest; indeed, we might call it one source of their wealth As such it is surely foolish to rely on them to be civicminded in an emergency In truth most of the richest Americans have rallied to Trump or made a separate peace with him Far more numerous than the rich who have endorsed either Trump or Harris are those who have decided to keep a low profile and not take sides Here, the motivation is surely a mixture of greed and cowardice Wylde has a more accurate sense of where the business elite is than Cuban does Tellingly the wealthy supporters of Trump aren t at all blind to his threat to democracy Many of them condemned his incitement of the January 6 attack on the Capitol But at the end of the day, Trump s being an autocrat is less important than the fact that it is in their self-interest to support him for reasons both of greed (Trump will renew the tax cuts of 2017 which will mean trillions more in the coffers of the wealthiest Americans) and fear (Trump will use the power of the presidency to exact vengeance on his enemies) The greed motive is furthered by the fact that, even if Joe Biden and Kamala Harris are far short of being socialists, they have supported more government activism than the United States has seen in a generation In other words if the choice is between democracy or self-interest the rich will choose self-interest In June Politico reported: Republican business titans from hedge fund executive Nelson Peltz to hotel mogul Robert Bigelow have come out in favor of the presumptive GOP nominee Even those who loudly denounced Trump s ef-
forts to overturn the results of the 2020 election are backing his bid to return to the White House Blackstone Group CEO Stephen Schwarzman who once labeled the U S Capitol insurrection that followed a Trump speech on Jan 6, 2021, an affront to the democratic values of the country is once again one of the former president’s most important allies on Wall Street Top financiers like hedge fund billionaire Bill Ackman who called on the then-president to resign over the riot and Citadel s Ken Griffin who dubbed Trump a three-time loser in elections are considering offering their support Since that report, Ackman has come out as a major Trump supporter; Griffin continues to keep his distance from the former president while financing downballot conservative candidates But even Griffin is hardly a member of the anti-Trump coalition In addition to the traditional Republican rich even more-moderate magnates are making peace with a possible Trump restoration It s notable that in the last week two billionaires who own major newspapers Jeff Bezos (The Washington Post) and Patrick Soon-Shiong (the Los Angeles Times) both reportedly overrode the decision of editorial boards and quashed endorsements of Harris Bezos’s reported role in the decision has been disputed by publisher William Lewis who claims it was his own decision Patrick s daughter Nika Soon-Shiong claimed that the family rejected the endorsement because of the Biden-Harris government s support of Israel s war in Gaza a contention later disputed by her father in an interview with his newspaper Surely the most plausible explanation is that Bezos and Soon-Shiong are acting out of naked self-interest
There is after all scant reason to trust Lewis a man known for his journalistic dirty tricks and servility toward his employers Besides, Trump has repeatedly promised to use the state to punish his political enemies; Harris has made no such threats Given a tight election, simple prudence would dictate that it’s better not to anger Trump even if that means annoying Harris Trump is a genuine believer in plutocracy: He thinks the best society is one where the rich are in charge In his term as president, the upper echelon of government resembled Mar-a-Lago: government of the country club set, by the country club set, for the country club set As Politico reported in 2017 “Trump has amassed a Cabinet of unheard-of wealth filled with business executives and CEOs But he has also quietly appointed a number of his richest friends and allies to unpaid jobs of importance where their responsibilities are blurry but their power could prove immense Trump cronies in power included Rudy Giuliani, Carl Icahn, Richard LeFrak, and Steven Roth Susan B Glaser, in an extensive report in The New Yorker on Trump’s alliance with billionaires documents that figures like Elon Musk who has
Dr rajkumar Singh
POTENTIAL CEASEFIRE ‘COULD AFFECT’ RESPONSE TO ISRAEL On the other hand Iran s president has said that a potential ceasefire between its allies and Israel could affect the intensity of Tehran s response to Israel s recent strikes on Iranian military sites, AFP reports
“If they (the Israelis) reconsider their behaviour, accept a ceasefire and stop massacring the oppressed and innocent people of the region it could affect the intensity and type of our response Masoud Pezeshkian said quoted by state news agency IRNA He added that Iran will not leave unanswered any aggression against its sovereignty and security” according to the news agency IN PALESTINE CHILDREN IN PARTICULAR ARE TARGETED’ UN Special Rapporteur Francesca Albanese has said that Palestinian children are, “in particular, targeted in so many depraved ways through killing, maiming starving torture terror depriving them of schools dreams future hope Al Jazeera reports In a post on X she said: Look at the totality of Israel s conduct, in the totality of the land it unlawfully occupies, against the totality of the Palestinian people living there And when you see how children in particular are targeted you see the destructive mind and intent at work in the realisation of a plan that comes from afar
HRW URGES COLLEGE ADMIN TO PROTECT STUDENTS’ RIGHT TO PROTEST The Human Rights Watch
tators and families also gathered at Lahore Polo Club to witness and enjoy the intense final Raja Jalal Arslan and Chaudhry Hayat Mehmood each converted three goals for Diamond Paints For FG/Din Polo, brothers Farhad Shaikh and Rafay Shaikh
The Embassy of Algeria in Islamabad organized a ceremony at Serena Hotel to mark the 70th anniversary of the glorious National Day of Algeria the day of the liberation revolution of 1st November Federal Minister of Information Technology and Communication Mrs Shaza Fatima Khawaja was the chief guest in the presence of the diplomatic corps accredited to Pakistan and representatives of international organizations parliament chambers of commerce and industry academic cultural and media institutions as well as the national community in Pakistan On this occasion, Ambassador Brahim Romani praised in his speech the long-standing and solid relations of
and cooperation
and Pakistan,
tance of Algeria as a
country in its
to Africa and
PIAF c alls for proac tive economic agenda for sustainable industr y growth
easing of all
political uncertainty paving the way for economic
that all stakeholders and
pundits insisted would be a
factor in turning the economy around This in the face of ever-rising electricity rates as pledged to the International Monetary Fund in an attempt to attain full cost recovery (instead of improving the management of the sector as is required) Faheem Saigol said that the government should be committed to transforming the economy of the country as the process of transforming the economy is already underway in the country, acknowledging that structural reforms in every sector takes time
Ahmad Zafar Hayat won the title of the 17th Chief of the Naval Staff Amateur Golf Cup 2024, whereas Irtaza Hussain was declared the winner of Net Category While Mr Alam Afzal Miss Humna Amjad and Master Abdullah Khan won the titles in the Senior, Ladies, and Junior categories, respectively Chief of the Naval Staff Admiral Naveed Ashraf graced the prize distribution ceremony as the Chief Guest While addressing the ceremony
GOVT PROPOSES AMENDMENTS TO SBP ACT
Incarcerated Yasin Malik begins hunger strike in Tihar jail
g
g SC judge highlights absence of key climate institutions in Pakistan amidst growing environmental challenges
Senior Puisne Judge Justice Syed
Mansoor Ali Shah has expressed concern over the government s failure to establish a Climate Change Authority or a Climate Change Fund as mandated by the Climate Change Act of 2017
Speaking at a high-level Climate Finance Forum and COP-29 Preparatory Workshop on Saturday Justice Shah criticized lawmakers for their quick legislative actions that overlooked critical environmental frameworks He noted that climate financing is vital for vulnerable nations like Pakistan
The two-day forum co-hosted by Sohail and Partners and Resources Future in collaboration with the Institute of Business Administration (IBA), Karachi, and the National Institute of Banking and Finance (NIBAF) Islamabad aimed to foster strategic discussions on mobilizing climate finance for Pakistan s mitigation and adaptation initiatives
The government must awaken to the urgency of these issues,” Justice Shah urged He highlighted the necessity of the Climate Act for effective project adaptation and funding applica-
tions “Sadly, despite the Act being passed in 2017, there is still no authority in place as we enter 2024 he lamented referring to a public interest petition that sought the Supreme Court s intervention in establishing the authority Justice Shah pointed out that when the Supreme Court questioned the government about budget allocations for climate change it received no satisfactory answers I struggle to comprehend what could be more deserving of budget allocations than climate change in a country severely impacted by it,” he stated, expressing disappointment over the lack of immediate action despite government assurances for future allocations
He stressed the urgent need for a comprehensive regulatory framework, noting that the absence of such a framework hampers timely project implementation and undermines investor confidence in climate-related initiatives
Climate change should be prioritized as a fundamental human rights issue, as it poses the greatest existential threat to Pakistan ” he cautioned Extreme weather events not only challenge access to basic necessities
Former prime minister and Pakistan Muslim LeagueNawaz (PML-N) President Nawaz Sharif said that all indicators show that Pakistan s economy is recovering Economic indicators are showing the recovery of the economy as Prime Minister Shehbaz Sharif has spared no stone unturned to steer the country out of quagmire of economic crisis, the PML-N supremo said while the media on arrival at London from the United States on Saturday night
Talking to the media Nawaz Sharif said that his party knew the economic woes of the people of Pakistan and it would provide them with relief from inflated power bills and inflation
He said: PIA is nearing default Whatever we said about PIA, we have an intension to give it a practical shape ”
“Punjab Chief Minister Maryam Nawaz is doing good work he added
During his visit to the United States Nawaz Sharif met the PML-N workers and leaders and urged the
like food, water, and health but also make climate financing crucial for upholding human dignity and survival For Pakistan climate finance is not a luxury but a necessity for survival, Justice Shah remarked He likened climate finance to the water needed to extinguish a fire in a burning house
He further emphasized the urgency of securing $30 billion in international financing in the wake of the devastating 2022 floods, urging stakeholders to frame this issue as a human rights obligation to attract necessary funds Justice Shah asserted that courts play a pivotal role in holding the state accountable for its commitments ensuring that financial support reaches the most affected communities by translating international agreements into actionable rights
He concluded by stating that climate finance transcends economic policy; it is fundamentally about survival and justice The judiciary, both domestically and internationally, has an unprecedented responsibility to ensure that these funds are effectively managed and utilized to meet the urgent needs of vulnerable nations and communities
American business community to invest in Pakistan Nawaz Sharif returned to London from the United States, where he spent five days for a medical check-up
According to media reports, Nawaz Sharif was accompanied by his personal physician Dr Adnan and his son Hassan Nawaz
Speaking to reporters Nawaz Sharif expressed complete satisfaction with the performances of the federal and Punjab governments