Friday, 3 December, 2021 I 27 Rabi-us-Sani, 1443 I Rs 15.00 I Vol XII No 155 I 12 Pages I Lahore Edition
OppOsitiOn bOycOtts tOp security briefing fOr Mps g
Govt turninG Parliament into 'rubber stamP' institution, says united oPPosition
ISLAMABAD staff report
t
He opposition in the national assembly on thursday announced its decision to boycott in protest to “persistently authoritarian” government approach the in-camera briefing of the national security Committee (nsC) convened on december 6 to discuss, and inform the House, on the latest security situation in and outside Pakistan. the meeting may be briefed by ltGen nadeem anjum – the new chief of the inter-services intelligence (isi) agency who assumed office on november 21. the participants are likely to be updated on the situation in afghanistan, developments in india-occupied Jammu and Kashmir (iioJK) and much-criticised talks with the proscribed tehrik-i-taliban Pakistan (ttP) group. moreover, national security advisor moeed yusuf is also likely to brief the mPs on his recent interactions with officials of friendly countries. army Chief Gen Qamar Javed bajwa
is also expected to attend the moot. but Prime minister imran Khan, who skipped the previous meetings as well, is likely not to be present. the parliamentary committee issued invitations to national assembly opposition leader shehbaz sharif, Pakistan Peoples Party (PPP) chief bilawal bhutto-Zardari, Jamiat ulama-e-islam-Fazl (Jui-F) parliamentary leader asad mahmood and Foreign minister shah mahmood Qureshi, and parliamentary leaders of all political parties having representation in the parliament. but the opposition, following a consultation meeting the previous day, issued a joint statement thursday, saying it had been informed by the government about an in-camera briefing. “opposition parties had always shown a responsible and serious attitude on all issues of the constitution, law, national security, and public importance, which is why – despite the absence of the leader of the house and his complete detachment from important national and public issues – the opposition parties fully participated in
cOrOnavirus in
pakistan
CONFIRMED CASES:
1,285,631
these briefings,” the statement said. However, due to the government’s attitude of “bulldozing” legislation in the Parliament, as well as its “persistently authoritarian and mediocre approach” to important constitutional, legal, national and security issues, the opposition has decided to boycott the briefing. the opposition stated that it contains parties that have a “mature vision, extensive experience and seriousness on critical issues” related to the constitution, the country and the populace. “in the past too, they [the opposition] have always played a historic role in protecting, guarding and promoting the rights and interests of the country and the people. even in the current contentious era, the opposition has given priority to the interests of Pakistan and the people. it has played its role in keeping all kinds of political sub-interests and affiliations at bay.” “the opposition parties have earlier demonstrated a responsible behaviour over the constitution and public interest issues”, according to the statement. “despite the absence of the leader of the House, the opposition has attended briefings, and sessions and leaders of the joint opposition and parliamentary leaders have given their proposals and preferred public interest in this disputed period. “regretfully, the government is using the parliament as a rubber stamp. the opposition deems that key national and public matter issues are not being presented in the parliament.” it said the Parliament is being ignored and the government is running matters with in-camera briefings. “in fact, the government has practically boycotted the parliament,” according to the opposition.” “in such conditions, an in-camera briefing will only initiate a new farce. the joint opposition deems the national security adviser only a showy character,” the opposition said.
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Surging imports, rise in T-bill yields trigger PSX bloodbath the Pakistan stock exchange (PsX) on thursday witnessed a bloodbath with the benchmark Kse-100 index losing over 2,100 points. the market opened on a negative note and free fall continued till the end of the session. the Kse-100 index moved in a range of 2,281.67 points, showing an intraday high of 45,369.14 points – the last day closing point – and a low of 43,087.47 points. the benchmark index closed at 43,234.15, down 2,134.99 points, or 4.71pc. speaking with Profit, market analysts said that the the third largest decline ever in terms of index points and the worst trading session since march 24, 2020, was a knee-jerk reaction to expected imports of around $8.0 billion, which can lead to a huge Cad of around $2.5 billion, which would essentially be highest ever. For context last full year Cad was $1.9 billion. additionally, cut off yields went up sharply in last t-bill auction. secondary market yields have also followed today, which is making fixed income more attractive from investment perspective. Further, stock market is cheap on valuations but in the short term, sentiment can overshadow fundamentals. in longer term, equities have outperformed other asset classes and could continue to do so.
Imports of food items, furnace oil and vaccines to be cut down, Tarin informed
a total of 366 companies traded shares in the stock exchange, out of them shares of 18 closed up, shares of 335 closed down while shares of 13 companies remained unchanged. out of 96 traded companies in the Kse-100 index, one closed up, 93 closed down and two remained unchanged. the overall market volumes increased by 145.68 million to 386.75 million shares. total volumes traded for the Kse-100 index increased by 128.4 million shares to 213.44 million shares. the number of total trades increased by 36,856 to 131,783, while the value traded increased by rs4.84 billion to rs14.06 billion. However, overall market capitalisation decreased by rs332.27 billion. among scrips, Wtl topped the volumes with 33.02 million shares, followed by dCr (29.58 million) and byCo (22.83 million). stocks that contributed significantly to the volumes include Wtl, dCr, byCo, unity, and GteCH, which formed around 31 percent of total volumes. the major sectors taking the index toward south were commercial banks with 360 points, cement with 314 points, oil & gas exploration companies with 240 points, technology & communication with 212 points and fertilizer with 204 points. News Desk
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more inside
Dollar soars to Rs176.65 in intraday trade, reaches new high STORY ON BACK PAGE
LAST UPDATED AT 9:16 AM ON DECEMBER 2, 2021
DAY'S DEATH TOLL:
NEW CASES:
8
377
RECOVERED:
DEATHS:
1,242,718 28,745 SINDH:
PUNJAB:
476,017
443,240
KPK:
BALOCHISTAN:
180,146
33,488
AJK/GB:
ISLAMABAD:
34,563/10,412
107,765
ISLAMABAD staff report
Prime minister’s adviser on Finance and revenue shaukat tarin on thursday was briefed that there will be less import of food items, furnace oil and vaccines in the coming months, a move that will significantly reduce the pressure on trade bills in the second half of the current fiscal year (H2Fy22). the Pm’s advisor was chairing a meeting to review the balance of trade at the Finance
division wherein he had directed the concerned authorities to take effective policy measures to reduce unnecessary imports of luxury items. the meeting was held to review and discuss the import bill of the last five months – July to november – of the current fiscal year. Federal minister for national Food security and research syed Fakhar imam, Federal minister for industries and Production makhdoom Khusro bakhtiar, Federal minister for energy Hammad
azhar, adviser to the Pm on Commerce & investment abdul razak dawood, federal secretaries, sbP governor, Fbr chairman and other senior officers participated in the meeting. the meeting was informed that the pressure on the country’s import bill was mainly due to global high commodity prices, especially energy, steel, and industrial raw materials. the forum also noted that the high import of vaccines contributed significantly to the rise in import bills.
CPeC: China to invest in new projects related to industries, agriculture, science & technology STORY ON BACK PAGE
NCOC discusses oxygen production, distribution process STORY ON PAGE 03