EpaperKHI_21-06-12

Saturday, 12 June, 2021 I 1 Dhul-Qadah, 1442 I Rs 15.00 I Vol XI No 342 I 12 Pages I Karachi Edition

FROM AUSTERITY TO GROWTH

Govt tables Rs8.5tR budGet foR fY21-22 g

OppOsitiOn gives tOugh time tO tarin whO fumbles with speech

ficient nation and for this, we will have to provide lots of incentives to farmers,” he said and added that the country will need to bring back administrative controls which were removed during the musharraf era.

ISLAMABAD

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MiaN abrar

inance minister shaukat tarin on friday presented the federal budget for the fiscal year 20212022 in the national assembly with an outlay of rs8.5 trillion amid uproar from members of the opposition aimed at interrupting the budget speech. tarin, the third finance minister in as many years to present the budget for the pakistan tehreek-e-insaf-led government, took the floor of the national assembly while opposition members staged a protest. many of them chanted slogans against the government, while many held placards criticising the budget.

Despite the uproar from the opposition benches, tarin went through his speech comfortably but kept making fumbles which reflected that he did not go through the written speech. the budget reflected transition of the country’s economy from austerity to growth as the federal government eyes growth and development in its third year. though the opposition benches continued chanting slogans but they never looked poised to create problems for the treasury benches, reflecting some behind-the-scenes understanding between the two sides not to cross the red-lines. leader of the Opposition in the national assembly and pakistan muslim league-nawaz president shehbaz sharif and pakistan people’s party chairman bilawal bhutto-Zardari remained in the house during the budget proceedings. both had a brief meeting at shehbaz’s chamber in the assembly hall and decided to carry out joint protest against the budget. tarin kept going with his speech amid whistling and anti-government sloganeering. the opposition members also carried placards inscribed with antigovernment slogans. prime minister imran Khan looked

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Govt proposes Rs264bn in new taxes in the budget 2021-22 STORY ON PAGE 03

budget fY22: govt proposes tax exemption for seZ enterprises confident and composed and also played his cards smartly by taking his cabinet and coalition party lawmakers into confidence. the session, which began exactly at 4pm, provided an insight into the government’s estimated expenditures, revenues, and how it aims to allocate funds for vital sectors of the economy. tarin said that prime minister imran does not shy away from taking difficult decisions for the sake of the country. “the current account deficit of rs20 billion was converted to a surplus in april 2021, thanks to pm imran’s sound economic policies,” said the finance minister. criticising the previous governments, tarin said that the pti-led government had to inherit a “mountain of circular debt amounting to rs1 trillion” after coming to power, adding that the debt was accumulated due to botched policies. “we made the [capacity] payments otherwise the country would have be-

CoRonaviRus in

Pakistan

CONFIRMED CASES:

938,737

LAST UPDATED AT 7:21 AM ON JUNE 11, 2021

DAY'S DEATH TOLL:

NEW CASES:

47

1,303

RECOVERED:

DEATHS:

873,543 21,576 SINDH:

PUNJAB:

326,413

343,499

KP:

BALOCHISTAN:

135,383 AJK/GB: 19,675/5,682

26,084 ISLAMABAD:

82,001

come a defaulter,” tarin said, adding, “i am presenting you the real picture of the nation and to highlight our performance.” the minister paid tribute to the pti government for controlling the spread of the coronavirus pandemic and taking steps to ensure businesses did not suffer massive losses in the country due to the lockdowns. “the government, through the ehsaas emergency cash programme, provided cash to 12 million people across the country,” he said and added that the foreign remittances had increased in pakistan to record levels which are expected to rise to $29 billion by the end of this month. “this is a proof of the love that overseas pakistanis have for prime minister imran Khan. the economy has grown and as a result, more people had secured jobs over the years. the finance minister said that despite the coronavirus pandemic, the per capita income had

increased by 15 percent,” he added. speaking about the revenue collection, tarin said revenues have grown by 18 percent crossing rs4,000 billion, adding that critics had no response to the government’s impressive performance in this regard. the finance minister announced that the pti government has steered the country towards growth, adding that almost every sector has seen a boost. “pakistan is witnessing a historic growth in the agricultural sector and apart from cotton, all other crops saw extraordinary increases.” he said that growth in the services sector helped improve numbers pertaining to poverty and had also played a major part in the generation of wealth in pakistan. tarin said that pakistan had become a food deficient nation, thanks to the policies of the previous governments. “we will have to become a food suf-

23 killed as bus falls into ravine in Khuzdar a passenger bus overturned and fell into a ravine, killing 23 people, including women and children, and injuring several others, in Khuzdar district on friday. according to Dawn, the bus was carrying pilgrims from wadh in balochistan to Dadu in sindh. citing major (r) bashir ahmed, the deputy commissioner of Khuzdar, the report stated that the pilgrims had the annual urs at sufi saint abdul Qadir naqshbandi’s shrine in wadh. it stated that the bus driver lost control of the vehicle while making a sharp turn, adding that the bus was overcrowded and several pilgrims were sitting on its roof. the news outlet reported that that 15 of the victims died on the spot, while three others succumbed to their injuries during treatment at the hospital. the bus driver was among the injured and some of them were in critical condition, it added. the report stated that two brothers and four others of a family were among the deceased, adding that the bodies had been sent to the victims’ hometowns via ambulances after the completion of medico-legal formalities.

STORY ON PAGE 03

Rs900bn federal PSDP to focus on improving transport infrastructure, building large dams STORY ON BACK PAGE

govt to borrow rs2.747 trillion in 2021-22 STORY ON BACK PAGE

more inside

Two terrorists killed, FC soldier embraces martyrdom in Kharan IBO: ISPR STORY ON PAGE 02

Opp calls fY22 budget ‘worst joke’, protests against new fiscal plan “there is not a single passenger who does not have an injury because of the bus accident,” ahmed told the ap by phone. separately, imam bakhsh, one of the injured passengers, told ap by phone that the passengers had repeatedly warned the driver to drive more carefully. he blamed the driver for the accident, saying that he was enjoying music and driving recklessly. reportedly, officials launched an investigation into the incident.

On may 3, at least 15 people including women and children died in an accident at

burhan interchange on lahoreislamabad motorway. tyre burst was cited as the reason for the road crash. the bus carrying around 50 passengers was going to mardan from lahore on the motorway when it met the tragedy. a minor girl and a woman are among the dead while more than two dozen sustained injuries. the motorway police and rescuers reached the spot and took the injured to the hassan abdal hospital. those critically injured were referred to rawalpindi. News Desk

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STORY ON PAGE 02

Tareen, son’s arrest not needed, FIA informs court STORY ON PAGE 02

pakistan urges int’l community to hold india accountable for rights violations STORY ON PAGE 02

02

Saturday, 12 June, 2021

KARACHI

newS

oPP Calls Fy22 budgeT ‘worsT joke’, ProTesTs agaInsT new FIsCal Plan

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NEWS DESK

EADERS from the opposition parties have begun voicing their disapproval of the national budget for FY2021-22 introduced by Minister for Finance Shaukat Tarin in the National Assembly.

Pakistan Muslim League-Nawaz senior leader Ahsan Iqbal on Friday slammed the government’s proposal to increase the income of salaried individuals by 10 percent and called the move the “worst joke”.

“A 10 percent increase in the salaries after record inflation is the worst joke made by the government with them,” tweeted Iqbal as Finance Minister Tarin presented the federal government budget in the National Assembly. He added that the move was like “rubbing salt on their wounds”.

“We reject this. At least a 20 percent increase should be given,” said the former interior minister.

All eyes were on the parliament as Finance Minister Tarin presented the budget 2021-22 on Friday.

The finance minister was greeted by jeers from opposition benches, with members shouting slogans and taunting the finance minister by laughing loudly as he praised Prime Minister Imran Khan’s economic initiatives.

He announced that the total outlay of the budget had been kept at Rs8,478 billion and had set the tax collection target at Rs5,829 billion.

Amid the range of policies announced,

the federal government increased the salaries and pensions by 10 percent.

Meanwhile, Pakistan Muslim LeagueNawaz President Shehbaz Sharif said that they will give a tough time to the government in the parliament. He maintained that people were dying from starvation in the country but surprisingly the government claimed that the economy was improving.

He was talking to journalists following the National Assembly budget session in Islamabad alongside Pakistan People’s Party Chairman Bilawal Bhutto-Zardari, who said that they would thwart the budget in Parliament through the power of the vote.

Rejecting the federal government’s budget for the fiscal year 2021-22, Bilawal said that the opposition parties, despite differences, will jointly resist the budget in Parliament. Lambasting the finance minister, the PPP chairman said that the people were facing record-high inflation and unemployment but it seemed that the minister was talking about the economy and budget of any other country.

Moreover, Bilawal later joined the protesting government employees to express solidarity with them outside Parliament House Islamabad.

The employees had gathered there after having travelled from different provinces, demanding a raise in salaries, wherein they stated that for the past three years, they had not seen any rise in pay.

They also demanded that contract employees be quickly regularised.

A large contingent of police was present

Two TerrorIsTs kIlled, FC soldIer embraCes marTyrdom In kharan Ibo: IsPr RAWALPINDI: Two terrorists were killed and a Frontier Corps personnel embraced martyrdom after security forces conducted an intelligence-based operation in district Kharan of the Balochistan province, said the Inter-Services Public Relations. The intelligence-based operation was carried out in the Hulmerg area of district Kharan, where two terrorists involved in various acts of violence and terrorism against innocent civilians as well as the security forces, were killed. “Significant quantity of arms and ammunition was recovered from their possession,” the army’s media wing said. It further shared that during an exchange of fire, one soldier of Frontier Corps Balochistan, identified as Sepoy Fida-ur-Rehman embraced martyrdom. He was a resident of the Mastuj area of Chitral. The ISPR said that the security forces are fully committed to defending the motherland against the nefarious designs of such inimical elements and shall protect the hard-earned peace and stability in Balochistan, even at any cost. In a similar action from the security forces recently, four Frontier Corps soldiers were martyred and six others sustained injuries in separate terrorist attacks in Quetta and Turbat, InterServices Public Relations said. The military’s media wing said in a statement that the FC post was targeted by terrorists near Pir Ismail Ziarat in the first incident.

During the exchange fire, five terrorists have been killed and eight were injured as the FC troops responded to the attack promptly. In the second incident, an FC vehicle was targeted by terrorists with an IED in Turbat where two soldiers sustained injuries. STAFF REPORT

Pakistan urges int’l community to hold India accountable for rights violations ISLAMABAD: Pakistan on Friday urged the international community to hold India accountable for its grave human rights violations in the Indian Occupied Kashmir, saying that the situation “warranted investigations under international scrutiny”. The Foreign Office in a statement said India continued to brutalise the defenceless Kashmiris in the IOK through extra-judicial killings in fake “encounters” and staged “cordon-andsearch” operations, custodial torture and imposition of collective punishment. “These atrocities cannot break the will of the Kashmiri people in their just struggle for the inalienable right to self-determination as enshrined in the relevant United Nations Security Council resolutions,” the FO added. The statement was issued in connection with June 11, 1991 Chotta Bazaar Massacre in Srinagar, where the Indian occupation forces had opened indiscriminate fire and killed 32 innocent Kashmiris, including women and children. STAFF REPORT

outside the parliament to guard against any untoward incident.

The road leading up to the parliament was blocked off with barbed wire, but it proved unsuccessful to deter the protesters, who jumped over it.

The government employees blocked off Shahrah-e-Dastoor (Constitution Avenue) where the parliament and all other important buildings are located and staged a sit-in at the main gate of Parliament House.

Speaking to the government employees, Bilawal said that the PTI government lies to the people of Pakistan and does not fulfil promises and agreement made with the government employees. He met the representative of the government employees and assured him of support of their demands.

He said that he will raise their demands in the Parliament as well.

The PPP chairman thanked the media for reporting this protest and said that the media should become the voice of the poor.

He hoped that the media will expose the injustices to the government employees as well as the poor people of Pakistan for the last three years of the PTI government.

The government claims that the economy is taking off and we are on economic progress then why the salaries of the government employees not increased, he said. The inflation in Pakistan has increased many folds, the poverty and unemployment have reached an unprecedented high level during the last three years, he added.

The government should have increased salaries to a maximum level amid worldwide

pandemic, the PPP chairman maintained. He reminded the media persons that the PPP government had increased salaries up to 120 percent and pensions up to 100 percent during its tenure 2008-13.

The government has the responsibility to increase salaries with the proportion of inflation in the country. The PPP and opposition demand to provide relief to the people and these injustices will not be tolerated anymore.

He said that he has directed the Sindh government to set the least wages at Rs25,000.

We will do everything in our capacity to stop this “Pakistan Tehreek-e-Insaf & International Monetary Fund” budget in the National Assembly, Bilawal maintained, adding that if this PTIMF budget is passed in the assembly then he will go to every nook and corner of the country to tell the people of Pakistan that they are suffering due to incapacity and inability of this government.

He said that only the people’s government can solve the problems the people are faced with. He assured the protesting employees that the PPP will run a campaign to get rid of this “PTIMF budget”.

Replying to the question, Bilawal said that they are demanding the government to act on the agreement it made with the employees. The government should increase salaries as the PPP had increased during its tenure in the government.

Separately, Pakistan People’s Party Parliamentarians Information Secretary MNA Shazia Atta Marri alleged that the

federal government is not providing the due financial share to provinces as promised by it.

She stated this while addressing a press conference in Islamabad on Friday. PPP Sindh leaders Nasir Shah, Nisar Khorro, Saeed Ghani, Murtaza Wahab, Waqar Mehdi and Ajiz Dhamra.

Shazia said that the economic survey data is not about facts and under the constitution, a fixed portion of the NFC award is given to the provinces.

Sindh is objecting that it is not getting its constitutional share, she said, adding that not only Sindh but the other three provinces are also not getting their share but they have chosen to remain silent.

She said that Sindh is constantly being abused. The PSDP is approved by NEC, which should hold at least two NEC meetings a year but only one meeting was held.

She said that Sindh’s share in NFC was Rs770 billion and in the last 11 months Sindh received only Rs613 billion so far, whereas it should have got Rs690 billion.

She hoped that Sindh will get Rs147 billion more in the next month.

The PPPP information secretary said that the party does not want a reduction in the share of Balochistan, Khyber Pakhtunkhwa or Punjab. It was not expected that Asad Umar, who claims to know the constitution, would mislead the people, she added.

If the provinces do not build motorways, then why is Sindh being demanded to build motorways, she questioned.

Tareen, son’s arrest not needed, FIA informs court NEWS DESK A banking court directed on Friday the Federal Investigation Agency to give a seven-day notice to PTI estranged leader Jahangir Tareen before arresting him in a fake accounts case.

Additional Sessions Judge Rafat Ali Gondal heard the case as Tareen turned up before him.

The FIA deputy director informed the court that the agency doesn’t need to arrest the PTI leader. It will give an advance notice to the accused, if such need arises, he added.

At this, Tareen’s lawyer requested the court to direct the FIA to inform his client at least ten days before arresting him. After the FIA official’s statement, the lawyer pleaded with the judge to allow his client to withdraw his bail application. The court disposed of the

bail plea and directed the FIA to give a seven-day notice to Tareen before taking any action against him.

Separately, a sessions court disposed of bail pleas of Jahangir Tareen and his son Ali Tareen in a money laundering case. The father-son duo asked the court for permission to withdraw their bail pleas in the case, which was granted.

The FIA’s investigation officer informed the court that the PTI leader and his son Ali Tareen’s arrest is not needed. “We are currently reviewing the record,” he said. When asked how many cases have been registered against them, their counsel replied that no case has been filed against him yet.

Disposing of the bail applications, the court instructed that the FIA will have to give a ten-day notice to the PTI leader and his son, if their arrest is needed.

US Senate confirms Pakistani-origin Zahid Qureshi as federal judge WASHINGTON INP

The US Senate on Thursday approved President Joe Biden’s nomination of Zahid Qureshi, a magistrate judge in New Jersey, to the federal bench, making him the first Muslim federal judge in US history.

The Democrat-controlled Senate voted 8116 to confirm Qureshi, 46, who is the son of Pakistani immigrants and a former federal and military prosecutor.

Senate Majority Leader Chuck Schumer of New York noted on the Senate floor that while Islam is the third-largest religion in the US, no Muslim has ever served on the federal bench.

“We must expand not only demographic diversity but professional diversity, and I know that President Biden agrees with me on this and this will be something that I will set out to do,” Schumer said.

Qureshi could not immediately be reached for comment.

Before being appointed as a magistrate in 2019, which did not require Senate confirmation, Quraishi was a partner in the white collar criminal defense practice of New Jersey law firm Riker Danzig Scherer Hyland & Perretti.

He had previously worked as an assistant US attorney, assistant chief counsel with the Department of Homeland Security, and a prosecutor with the US Army Judge Advocate General’s Corps. Qureshi served two tours with the Army in Iraq, in 2004 and 2006.

The Senate on Thursday also voted 52-46 to elevate US District Judge Ketanji Brown Jackson of the District of Columbia to the US Court of Appeals for the D.C. Circuit. Jackson, whose record on the bench was criticized by some Republicans, is widely considered a contender for any US Supreme Court vacancy that arises during the Biden administration.

ZUBAIR MEHFOOZ

Zero load shedding in country during last 12 hours: hammad azhar NEWS DESK Federal Minister for Energy Hammad Azhar on Friday shared that there has been zero forced load shedding in the country during the last 12 hours. Taking to Twitter to share the details on power supply in the country, Hammad said that 1,500 megawatts of electricity were added in the last 48 hours to the national grid while more would be added later in the day. He, however, said that areas having a high ratio of electricity theft or any technical issues will witness load shedding.

“Revenue-based load-shedding in high theft areas and any infrastructure/transmission breakdown in localities may still arise.”

On June 3, Hammad said that K-Electric has been provided 200 more megawatts of electricity to rid Karachiites of power cuts. In a message on his official Twitter account, the minister said that the port city’s sole power distributor had already been getting 350 MW additional electricity and in order to rid the citizens of Karachi of load-shedding, the power supply to K-Electric from the national grid has been increased by 200 MW. Amid the extremely hot weather conditions, K-Electric has increased the duration of load-shedding by up to 11 hours a day as announced and unannounced prolonged power outages continue to trouble people in the metropolis. The duration of power load-shedding in high-loss areas has been increased by up to 11 hours, while the areas exempted from load-shedding were also experiencing power outages up to six hours a day.

Saturday, 12 June, 2021

KARACHI

Budget FY22: goveRnMent PRoPoses tax exeMPtion FoR seZ enteRPRises LAHORE

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JAwAd ZULfIqAR

HE federal government has proposed tax exemption for the upcoming fiscal year for businesses located in the special economic zones being created under the China-Pakistan Economic Corridor.

According to a budget document, the proposal was put forth to facilitate businesses. It listed SEZs as one of the key priorities of the federal government in the financial year 2021-22.

Mentioning the progress and implementation of CPEC as a key priority, the government said that this, along with

FINANCE MINISTER SHAUKAT TARIN SAYS GOVERNMENT WANTS TO MAKE CPEC A PLATFORM FOR RELOCATING INDUSTRIES other items on the list, would help promote economic growth and generate employment opportunities in the country.

It also said that Pakistan has completed 17 mega projects under CPEC at a cost of $13 billion, while 21 projects costing $21 billion were currently under progress. The government also mentioned other “strategic” projects costing $28 billion, which it said were in the planning and implementation phase.

The Pakistan Tehreek-e-Insaf presented

the budget for its fourth year in power on Friday with a total outlay of Rs8.5 trillion as it aims for economic growth after three years of austerity measures.

Presenting the budget on the floor of the National Assembly on Friday, Finance Minister Shaukat Tarin said that the government was investing in SEZ while aiming to make CPEC a platform for relocating industries. He said that this would help increase Pakistan’s exports and generate

jobs. Tarin added that besides this the government would expand its “earnest efforts” in promoting foreign direct investment in the country’s exports sector.

CPEC is said to be the flagship project of China’s Belt and Road Initiative and links Pakistan’s seaports to China through a network of highways and railways passing through all provinces and autonomous areas of the country. CPEC, however, is not limited to infrastructure projects, and many

Govt proposes Rs264bn in new taxes in the budget 2021-22 ISLAMABAD SHAHZAd PARACHA

The federal government has proposed Rs264 billion in new taxes in the budget for the fiscal year 2021-22.

Federal Board of Revenue member Tarique Chaudhry informed that FBR has proposed new policy measures in income as well as sales tax and federal excise duty.

FBR proposed Rs52 billion new taxes in customs, Rs215 sales tax & federal excise duty and Rs116 billion in income tax; on the other hand, they have also proposed Rs42 billion relief in customs, Rs19 billion in sales and FED, and Rs58 billion in income tax, leading to the overall collection of Rs264 billion in taxes in the next fiscal year.

A member of Inland Revenue said that the tax department has also proposed Rs242 billion enforcement measures in the budget 2021-22.

The government has assigned an Rs5.829 trillion revenue target in the next fiscal year.

“We will achieve Rs4700 billion during the outgoing fiscal year and if we add 8.2 percent inflation, besides adding the above-mentioned policy measures, then we can collect Rs5829 billion in tax in next fiscal year,” the IR member informed.

While explaining the income tax revenue measures, he said that the tax department will charge 7.5 percent adjustable tax to non-active taxpayers whose electricity bill is more than Rs25,000 in residential areas.

We estimated to collect Rs1 billion from this measure, he added.

Similarly, to discredit the “on” money concept, it has also been proposed to collect tax from those who did not book the vehicle but purchased it later.

He also said that IR has added some sectors, such as Pharma, poultry, animal feed and edible oil, in the withholding of dealer as well as distributor list and it has been proposed to take income tax from them.

He said that they will collect Rs20 billion from

streamlining procedures and automation of business processes for monitoring withholding taxes.

In addition, they have estimated to collect Rs10 billion from property income as well as those immovable properties which value is less than Rs5 million.

He said that FBR has estimated to collect Rs5 billion tax for export of services at per with export of goods which will be taxed at the rate of 1 percent under final tax regime.

As per the finance bill, it has also been proposed to take withholding tax on rental income of subleases.

Besides this, IR member Tariq Chaudhary informed that they have proposed to give Rs58 billion income tax relief, for which IR will delete 12 withholding taxes, such as payment of royalty to residents, tax on more than Rs50,000 cash withdrawal, tax on banking instrument, tax on banking transactions other than through cash, tax from persons remitting amounts abroad through credit or debit card or prepaid cards.

In addition, it has also been proposed to end the tax on domestic air travel, tax on extraction of minerals, tax from members of a stock exchange registered in Pakistan, tax on marginal financing by NCCPL, tax from CNG stations and tax on certain petroleum products.

Chaudhry said that the tax department has also proposed to impose federal excise duty at the rate of Rs1 on mobile phone calls exceedings three minutes.

Similarly, it has also been proposed to impose FED on internet data usage at the rate of Rs5 per GB. We have an estimate to collect Rs70 billion from this tax, he added.

He added that Customs have estimated to collect Rs1 billion tax by the imposition of FED on electronically heated tobacco.

Ali informed that they have proposed to increase regulatory duty on prepared food, animal food, perfumes, cheeses, hair shampoo and many others as

these come into luxury items.

Similarly, he said that they have also proposed to increase the import duty on mobiles to promote the local industry. Pakistanis have imported Rs270 billion worth of mobile phones in the last year, and the government not only wants to promote the local industry but also the export phones, he explained.

Besides this, he said that FBR has proposed to reduce CD on 584 tariff lines including cotton, woven to incentivise the textile industry.

He also said that the tax department has also proposed to reduce duties on goods related to tourism, footwear, paint and chemical and artificial leather industries.

Hamid Ali also said that the government has decided to end taxes, including CD, on the import of 850CC vehicles. We are not only expecting a decrease of Rs200,000 in vehicles prices up to 850CC but to attract the new investors The IR member said that FBR has proposed to levy sales tax on the retail price of sugar as it would be transferred into the third schedule.

Moreover, it has also been proposed to collect sales tax on the sales of used lead batteries as it is an unorganized sector.

He said that we have also proposed to withdraw zero ratings from petroleum crude oil, parts and components of zero-rated plant and machinery, import of plant and machinery by the petroleum and gas sector, and supply, repair, and maintain ships.

IR member informed that it has also been proposed to increase the sales tax on potassium chlorate from Rs80 per kg to Rs90 per kg in addition to the 17 percent standard rate.

IR member policy said that there we have also proposed to collect sales tax on the sales of goods through online marketplace besides the tax department also proposed to get a license from every brand. According to the Finance Bill, it has also been proposed to reduce taxes on the export of services from 17 to 16 percent in Islamabad capital territory.

Pakistan Railways to start e-tracking of cargo trains LAHORE SHAHAB OMER

Federal Minister for Railways Azam Khan Swati has said that e-tracking of cargo trains will be started soon while a cargo center will be set up in the Kot Lakhpat area of Lahore in collaboration with the private sector.

The minister met the president and members of the Lahore Chambers of Commerce and Industry (LCCI) here on Friday and assured them that Pakistan Railways (PR) was ready for joint ventures with the private sector.

“Prime Minister Imran Khan wants to provide all possible facilities to the business community and economic stability,” said the minister. “PR is activating dry ports to promote business activities. Upgrading the railways is essential to boost Pakistan's economy and reduce the cost of imports and exports,” he added.

“The private sector should start projects on the land

of PR under partnership as the land of the railways will not be sold but leased,” Swati said.

Meanwhile, during the meeting, LCCI President Mian Tariq Misbah expressed hope that the situation would improve significantly after the completion of the ML-1 project.

“Pakistan Railways is a very important mode of transportation and rail cargo service is cheaper than other means,” the minister said. He went on to say that providing better services will benefit the business community more and reduce business costs.

He stated that due to the non-availability of cargo wagons in recent times, traders have had to transport goods by trucks, which was sometimes three times more expensive than train cargo service. “Economic activities are expected to increase due to the CPEC, so the railway track needs to be upgraded. New projects should be launched in collaboration with the private sector to

modernize Pakistan Railways,” Swati stated.

Misbah informed the minister that both bonded and non-bonded containers were used for transportation while PR should give preference only to bonded containers and if there is any additional space, then bonded containers should be loaded.

“Merchants are given five to seven days to clear consignments and this time should be extended to fifteen days,” the minister stated, adding that shipments are delayed due to slow cargo trains and traders have to bear the demurrages.

Cargo trains were available at Lahore Dry Port two to three days a week but this service has been suspended which is causing problems which should be restored, he said. The members in the meeting expressed concern over the train accidents and said that the central traffic control system should be improved to prevent the accidents.

Careem pilots drone deliveries to study prospects of scaling in Pakistan LAHORE TAIMOOR HASSAN

Ride-hailing and last-mile delivery platform Careem Thursday flirted with the idea of doing drone deliveries and dropped a teaser informing customers that they could be receiving their food orders via drones if they ordered via the Careem Superapp.

In a statement, Careem told Profit that exercise was a pilot with learnings for the platform to decide if it could be scaled to the next level.

Careem said that the pilot project of ordering via

drone deliveries took place for one day with an extremely limited number of customers and distance covered. “There have been a lot of learnings for us if the company wants to scale up,” the statement read.

“Once we have concluded the feasibility and are absolutely confident to scale up this project to the next stage, we aim to procure all necessary regulatory approvals/permissions as per law, if required,” Careem said.

“Careem’s purpose is to simplify and improve lives by means of effective technology and our brand does not shy away from doing things creatively and standing out. Our teams are constantly innovating and

experimenting with new ways to inspire and be of service towards our Customers; the drone delivery pilot is one such example,” the statement added.

Drones are the next iteration in the food delivery category and Careem’s parent, Uber is also in the process of testing drones for food deliveries on its UberEats platform. In 2020, Amazon also received approval of operating a fleet of drones for deliveries.

Likewise, Google’s parent company Alphabet is seeing a boom in drone deliveries for its company Wing which has partnered with various shops in select states in the US and Australia.

NEWS

03

energy projects, including coal and hydel power plants, have been built under it.

Pakistan and China aim to build nine SEZs across the country to promote industrial cooperation and to increase economic outreach to markets in nearby regions.

On Thursday, Lieutenant General (r) Asim Saleem Bajwa, who heads the CPEC Authority, told businessmen in Islamabad that the government was currently gauging the feasibility of a SEZ in the federal capital to facilitate local businesses. Talking about budgetary allocation for CPEC during the next fiscal year, he said that Rs87 billion would be allocated for it, while the government was also looking forward to “increased Chinese investments”.

KP’s businessmen laud govt for introducing ‘balanced’, ‘growth oriented’ budget PESHAWAR AZIZ BUNERI

The business community here on Friday termed the federal budget for fiscal year 2021-22 as ‘balanced’, ‘growth-oriented’ and ‘pro-businesses’, asking the government to implement ‘relief initiatives’ in letter and spirit to revive Covid-19 ravaged national economy. Addressing a news conference after presentation of the budget, Sarhad Chamber of Commerce and Industry (SCCI) President Sherbaz Bilour said that the government had presented a budget which could boost businesses and industrialisation, and create jobs in the country. He welcomed the abolishment of Federal Excise Duty (FED) from erstwhile Federally Administered Tribal Areas (FATA) and Provincial Administrative Tribal Areas (PATA). The SCCI chief expressed the hope that the government’s step will bring economic prosperity and development in the newly merged tribal districts.

SCCI Vice President Junaid Altaf, former Federation of Pakistan Chamber of Commerce and Industry (FPCCI) president Ghazanfar Bilour, former presidents Malik Niaz Ahmad, Faiz Muhammad Faizi, Riaz Arshad, executive members Muhammad Aurangzeb, Abdul Jalil Jan, Abidullah Yousafzai, Faiz Rasool, Saddar Gul, Industrialists Association Hayatabad, Peshawar President Malik Imran Ishaq, traders and industrialists were present during the presser. Sherbaz Bilour hailed the reduction in excise duties, including on raw materials, which was a welcome step through the fiscal budget. The SCCI president said that the initiatives to boost hydel power generation, abolishment of tax on online businesses, increase in loans for cottage industries from Rs3 million to Rs10 million are good measures to accelerate the pace of economic development. The chamber president also appreciated abolishment of 12 different withholding taxes (WHTs). Similarly, he added that the abolishment of the condition for upgradation of tax profile was also a good step. While responding to a question of reporters, Sherbaz Bilour said that the federal government was being unjust with Khyber Pakhtunkhwa (KP) in past years regarding payment of amounts in net hydel profit (NHP) along with arrears.

Minimum wage set at Rs21,000; salaries, pensions get 10pc raise ISLAMABAD TLTP

The federal government on Friday presented the budget for 2021-22 and announced an increase in monthly minimum wage to Rs21,000 from Rs17,500.

Finance Minister Shaukat Tarin while presenting the budget on the floor of the house, announced to increase the minimum wage to Rs21,000 to reduce the burden on lower income groups of rising prices. He said that the minimum wage is proposed to be increased to Rs21,000 to mitigate the inflationary pressures on the low-income groups. The minister also announced an increase in pay and pension by 10 percent effective from July 01, 2021. He said that the government was aware of high prices and difficulties faced by the lower income group. He added that last year the government had taken austerity measures and due to this increase in salary and pension was not granted. He said that the economy had improved now and the government decided to increase the salary and pension by 10 percent. He added that from July 1, 2021 all employees of the federal government would get adhoc relief of 10 percent. Similarly, pensioners would get an increase of 10 percent in their pension from July 1, 2021.

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Saturday, 12 June, 2021

KARACHI

NEWS

PuNJAB ChANGes sChOOl TimiNGs Amid heATwAve LAHORE

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PROVINCIAL EDUCATION MINISTER SAYS WILL ANNOUNCE SUMMER VACATIONS AFTER EXAMS

STAFF REPPORT

MID the ongoing spell of the heatwave, the Punjab government on Friday changed the government and private school timings. According to the announcement, the new school timings will be 7:00 am to 11:30 am across the province.

Punjab Education Minister Murad Raas, in his Tweet, directed all public and private schools to comply with the new school timing schedule.

The minister urged the school staff, students, to strictly follow the standard operating procedures issued by the federal government.

It may be noted here that the district education authorities had earlier announced modified timings of schools from Monday.

The education authorities had also allowed 50 per cent attendance in all schools besides restricting school administrations not to call any students continuously for two days.

Separately, the minister on Friday said

that the summer vacations across the province will be announced within two weeks after completion of examinations.

Addressing a press conference, he said that the government knows about the problems which children are facing due to the scorching weather.

He announced introducing two separate mobile applications in the province aimed at facilitating school teachers and parents.

“The measures planned by the government will be for the first time that any government has taken for facilitating the teachers,” he said and added that now teachers could get their issues resolved through laptops or mobile phones while sitting at their home.

Previously, Murad said that the teachers had to pay bribes to avail their holidays, however, now, “we have made the entire process online”. “They could now apply for

holidays while using their phone,” he said.

The minister further shared that in past, teachers had to apply for their retirement manually and were forced to visit offices multiple times to get their dues cleared.

“We have now added the entire mechanism on the mobile application and teachers would get their retirement notification a week after completion of their job tenure,” he said, adding that they were also in contact with the AG Office for direct transfer of the retirement dues in the applicant’s account.

Murad said that the ACR has also been made online. “We are also bringing other fresh initiatives to facilitate the school teachers,” he said, adding those neglecting their job would now be automatically highlighted.

The minister further said that an application for parents was also in the working which would facilitate them in understand-

ing as to which school is better for their children. “In case of shifting home, the parents

would be able to get help regarding nearby schools through the application,” he said.

66 BuffAlOes Killed Of eleCTrOCuTiON iN lAhOre LAHORE: As many as 66 buffaloes were killed of electrocution in the provincial capital on Friday. According to details, due to negligence of WAPDA to change the power line, the frail wire of high -tension power line broke and fell over dozens of buffaloes tied under it in Lalazar area of Lahore. Due to breakage of power line, 66 buffaloes were killed of electrocution while some others were affected. On the complaint of cattle breeders, a case was registered against concerned WAPDA officials and an investigation was kicked off. INP

Tourism, polls: NCOC to speed up vaccination in GB, AJK ISLAMABAD: The National Command and Operation Centre decided on Friday to speed up vaccination of citizens against Covid-19 in Azad Jammu and Kashmir and Gilgit Baltistan. In a statement on his official Twitter account, Asad said that the NCOC in today’s meeting decided to further speed up Covid-19 vaccination in AJK and GB. He added the federal government will set up a mass vaccination centre and mobile vaccination teams for the purpose. Asad, who also heads the NCOC, said: “Vaccination needs to be geared up due to upcoming election in Azad Kashmir and tourism season in Gilgit Baltistan,” On Thursday, the AJK chief election commissioner announced schedule for the regional election to be held on July 25.

“In the election 32,20,546 Kashmiris could cast their votes,” the CEC said. “In the polls 15,19,347 male voters and 12,97,747 female voters will be eligible to cast their votes.”

The elections will be held to elect 45 representatives of the legislative assembly, including 33 in AJK and 12 for Kashmiri migrants. STAFF REPORT

PESHAWAR: Birds splash in water as temperature rises in the provincial capital. INP

Karachiites face problems in getting Covid-19 vaccination certificates KARACHI INP

People in Karachi are finding it hard to get Covid-19 vaccination certificates from National Database Registration Authority despite getting vaccine jabs.

Vaccination across Karachi is underway at more than 50 centres, but the citizens have revealed that

they are facing problems in getting the Covid-19 vaccination certificates.

On the other hand, the data entry officers at the vaccination centres said that there are three phases for the Covid-19 vaccination and the citizens who are skipping the registration process are facing problems.

“Several citizens left the centres without getting

Pakistan one of the hottest regions in the world: minister ISLAMABAD STAFF REPORT

Pakistan owes its rising mercury to the harmful gas emissions by other countries, PM’s aide on climate change, Malik Amin Aslam, said on Friday. In his address with a seminar, Aslam revealed that the recurring heatwaves in the country have made Pakistan one of the hottest regions in the world. “Climate change is rerouting winds and affecting the temperatures,” he said.

The minister pointed out that harmful emissions and global warming are warming up the northern areas.

Due to this, glaciers on the Himalayas are melting at a very fast pace.

“Mountains are very important for Pakistan because they are our sole water source,” Aslam said. “If we don’t take action now it can lead the country towards an impending water crisis.”

To prevent this, people need to plant as many trees as possible, he stressed. When the PTI government came into power, the budget for the climate change ministry was Rs400 million, according to the minister.

This year, the amount has been increased to Rs14 billion. However, the government cannot achieve the desired results on its own, the minister said, encouraging people to play their part by participating in the 10 Billion Trees Tsunami Programme.

“We can control the rising mercury if we are successful in planting these trees,” he said.

themselves registered after vaccination.”

Earlier this week, the National Command and Operation Center had announced that the Covid-19 vaccination certificates can now be issued from all centres of NADRA across the country.

In a Tweet, NCOC asked the people who had been vaccinated, to visit NADRA centre or download a certificate from http://nims.nadra.gov.pk.

NTDC transmits 23,633MW electricity LAHORE: National Transmission and Desptach Company (NTDC) has successfully transmitted 23,633 MW highest ever electricity transmission through National Power Control Centre (NPCC) on 11 June 2021, today. The spokesman of NTDC said that on 10th June 2020, maximum 18392 MW power was transmitted through NTDC network.

The present increase of 18.4 % electricity transmission of 5241 MW as compared to the previous year, indicates the positive growth in power sector. The spokesman further said that during this highest power transmission, NTDC Network remained stable throughout the country. Minister for Energy (Power Division) Mr. Hamad Azhar and Special Advisor to PM, Mr. Tabish Gauhar appreciated and congratulated NTDC and its team for successful transmission of 23633 MW today. PRESS RELEASE

Saturday, 12 June, 2021

KARACHI

NEWS

Crypto marKet limps towards low after blow from imf iSLamaBad

t

TLTP

HE crypto market faced a blow on Friday, a day after the International Monetary Fund (IMF) said that crypto assets can pose significant risks, and the total market capitalisation decreased 2.1 percent to $1.65 trillion as of 13:20 GMT. The price of bitcoin, the largest cryptocurrency, shed 0.76 percent to reach $37,440. With this decrease in price, the market capitalisation of the BTC has

reached $701 billion.

Likewise, ethereum (ETH) price decreased by 3.04 percent to reach $2,472. With this decrease in price, the market capitalisation of ETH has reached $287 billion.

Similarly, XRP shed 1.74 percent to reach $0.866. The market capitalisation of XRP stands at $86.6 billion after this decrease.

On the other hand, Cardano (ADA) price reached $1.52 with a 3.00 percent decrease in its price. Its market capitalisation has reached $48.8 billion with

this decrease.

Similarly, dogecoin (Doge) shed 3.78 percent to reach $0.323. With this decrease in price, the market capitalisation of Doge reached $41.9 billion.

On the other hand, the IMF has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender.

“Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” IMF Spokesperson Gerry Rice cautioned.

Gerry Rice said, “Adoption of bit-

coin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis so we are following developments closely and will continue our consultation with authorities. Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them.”

The spokesperson added that the IMF will meet with President Bukele to discuss the recently passed bitcoin law.

El Salvador has been in discussions with the IMF seeking a near $1 billion loan.

From austerity to growth: Govt tables Rs8.5tr budget for FY21-22 continued from page 01 Tarin said that the government had kept the growth target at 4.8 percent for the fiscal year, adding that the government will not leave the poor and the destitute at the mercy of inflation.

“Never in our economic history, were poor people able to realise their dreams,” he said, adding that PM Imran wanted to uplift the poor. He that said the government had decided to provide interest-free loans of up to Rs500,000 to the poor.

Speaking about the importance of boosting exports so Pakistan can earn foreign exchange, the finance minister said that the government was focused on the creation of economic zones to facilitate industries, create jobs and boost exports.

The minister announced that Pakistan has introduced mortgage financing for the first time ever, adding that the passing of the foreclosure law had enabled banks to start lending to people.

He announced that the Public Sector Development Programme will be increased from Rs630 billion to Rs900 billion to counter the adverse impact of the coronavirus pandemic.

Tarin announced a development package for 14 districts in Sindh, adding that these will focus on improving education, solving the province’s water issues and carrying out development in these districts.

The minister announced that the government has slashed sales tax on locally manufactured cars from 17 percent to 12.5 percent.

He announced the government’s initiative to earmark $1.1 billion to procure coronavirus vaccines, adding that the government aimed to vaccinate 100 million people by July 2022.

Tarin said that the government was introducing thirdparty audits which would thwart the Federal Board of Revenue harassing any individual or business entity. He said that those who are found guilty of evading taxes or deliberately hiding their income will be fined severely.

23 killed as bus falls into ravine in Khuzdar continued from page 01 Last year, five of a family were killed and 24 others were injured as a bus carrying pilgrims overturned near Shah Noorani crossing in Lasbela district, Balochistan. The bus, carrying over 30 pilgrims, was going to the shrine of Hazrat Bilawal Shah Noorani in the Wadh area of Khuzdar district from Karachi. It had also overturned at a sharp turn in the hilly area near Shah Noorani crossing. The bus overturning had left five people dead on the spot. Road accidents are common in Pakistan where most of the accidents are caused by overloading in public transport, negligent drivers, poor vehicle maintenance and dilapidated roads.

“The rich will be asked to pay taxes in accordance with their wealth,” he said, adding that the salaries class will not be burdened with additional taxes.

The finance minister said that the track-and-trace systems will be strengthened so that undocumented trade does not flourish in the country.

Tarin said that the government was slashing withholding taxes on mobile phones, adding that it will be reduced to 10 percent at first and then 8 percent later.

He said that the government was intent on eliminating the menace of corruption, adding that Pakistan Customs was focused on curbing the sale of illegal trade.

“The western borders of the country and the coastal strips should be made safe so that these practices end,” he said.

Tarin said that the total expenditure budgeted for next year stood at Rs8,487 billion — almost 19 percent higher than the last year’s budget size of Rs7,136 billion.

He recalled that when the PTI came into power, the economy had gone almost bankrupt. “Everyone knows we were under the burden of so many loans,” he said, adding that the current account deficit was at a historic high of $20 billion.

“During this time, exports were contracting and there was over a 100 percent increase in imports,” Tarin added. “Despite this context, a 5.5 percent growth rate was harped on about.”

The finance minister said that the PTI government had to do all repayments to save Pakistan from default.

“It took time to stabilise the economy due to the pandemic but we achieved our targets. The $20 billion current account deficit has been turned into a surplus of $800 million while a 3.6 percent primary deficit reduced to 1 percent,” said the minister, adding, “After many efforts, the government has been successful in putting the economy on the path of development.”

The finance minister announced that for FY22, the government had set GDP growth target at 4.8 percent.

“We hope growth will be even higher than that due to the measures we have taken in this budget. Like in

the past, we will not leave the weak segments of our society at mercy of the trickledown effect.”

He said that in the next couple of years, the government wants to increase growth to 6-7 percent.

“Burgeoning prices of locally manufactured small cars is a major concern for low-earning families. It is proposed that small cars up to an engine capacity of 850cc may be exempted from value-added tax besides reducing sales tax rate on these from 17 percent to 12.5 percent,” Tarin said.

“To support electric cars, the government of Pakistan wants to support manufacturing of electric cars for which a lot of tax relaxations are being given.”

He said that Pakistan witnessed an “unprecedented” rise in online market sales during the Covid-19 lockdown. “However, the contribution of these e-commerce platforms to the economy is minimal, hence it is proposed to bring e-commerce transactions into the sales tax net,” he added.

The minister also announced that a tax exemption is being given on ‘Auto Disable Syringes’ with an aim to minimise the impact of deadly diseases like Covid-19.

Federal excise duty on telecommunication is being reduced from 17 percent to 16 percent, he said.

Later, National Assembly Speaker Asad Qaisar adjourned the session for Monday at 4pm.

Earlier, as Prime Minister Imran arrived in the parliament building for the session, he was asked by a reporter whether the budget will be people-friendly.

“Everyone will be happy (with the budget),” he replied.

Prior to the budget session, Bilawal chaired a meeting of the PPP parliamentary committee to decide the party’s strategy for the session.

The PPP chief directed his party’s lawmakers to give a “tough time” to the government, saying the government had devised an “anti-poor”, “political” and “selected” budget.

The federal cabinet also met in PM House and approve budget proposals. Prime Minister Imran presided over the meeting.

Crude prices rally as WTI reaches $70.55 Oil prices edged up on Friday on the back of reopening of the global economy, despite gloomy May inflation figures in the United States.

At 13:40 GMT, Brent, the international benchmark for two-thirds of the world's oil, gained 0.10 percent to reach $72.62 a barrel. Likewise, the US West Texas Intermediate (WTI) reached $70.55, up 0.37 percent.

The price for Opec Basket was recorded at $69.81 a barrel with 0.57 percent decrease, Arab Light was available at $72.12 a barrel with 0.87 percent increase, while the price of Russian Sokol reached

$72.96 after gaining 0.75 percent.

Meanwhile, the US Labour Department has said that consumer prices in the United States surged 5 percent in May from a year ago, accelerating at their fastest pace in nearly 13 years. The consumer price index (CPI) represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods. That’s the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the United States into the worst recession since the Great Depression.

According to analysts, the mar-

ket is recovering impressively from the dismal weekly EIA report, as the drop in weekly gasoline demand was particularly disappointing. The US crude oil stockpiles that include the Strategic Petroleum Reserve (SPR) fell for the 11th straight week as refiners ramped up output, but fuel inventories grew sharply due to weak consumer demand, the Energy Information Administration (EIA) said. Crude inventories that exclude the SPR fell by 5.2 million barrels in the week to June 4 to 474 million barrels, the third consecutive weekly drop. NEWS DESK

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Donation to burns centre Under CSR, Pak Suzuki has donated Moist Plus Wound Dressing to Burns Centre on 4th June, 2021.

Moist Plus Wound Dressing is much more effective for the treatment of burnt patients than conventional wound dressing, as it is less painful, fast in healing process & requires less frequency of dressings; it will also be helpful in minimizing mortality cases caused by burnt wound infections. Mr. Muhammad Ali Lodi, Head Operations, Mr. Muhammad Irfan Tariq, Head Corporate Planning from Pak Suzuki Motor Co. & Mr. Muhammad Azmat Shigeyuki Ataka, Advisor-Resource. PR

moU signing between bank alfalah islamic and akhuwat islamic microfinance to promote ‘mera pakistan mera Ghar’ Bank Alfalah Islamic is one of the leading promoters of the government backed “Mera Pakistan Mera Ghar” low cost housing finance scheme since its inception. In continuation with Bank’s current vision, Bank Alfalah Islamic has signed a MoU with Akhuwat Islamic Microfinance (AIM) to offer exclusive housing finance solutions to its customers. The MoU signing ceremony was held on Tuesday, June 8, 2021. Dr. Muhammad Imran, Group Head, Bank Alfalah Islamic along with other senior executives were present at the event. Akhuwat Islamic Microfinance (AIM) was represented by Dr. Muhammad Amjad Saqib, Executive Director AIM, along with other senior management. Dr. Muhammad Amjad Saqib, Executive Director AIM said, “We look forward to working with Bank Alfalah Islamic on this noble project to bring affordable and convenient housing solutions to the deserving masses of Pakistan. Dr. Muhammad Imran, Group Head, Bank Alfalah Islamic, said at the occasion “Bank Alfalah Islamic foresees this partnership with Akhuwat Islamic Microfinance to go a long way and will further strengthen the bank’s position as a leader in product innovation and extend the low cost housing finance to the underprivileged citizens of Pakistan” Akhuwat Islamic Microfinance (AIM), is a not-for-profit organization, that has in-depth expertise of serving the under privileged through favorable financial schemes. Through this MoU, AIM will coordinate with Bank Alfalah Islamic in identifying individuals who desire to obtain this facility under the scheme. Both parties will explore viable business opportunities under the scheme and work towards extending the facility to the maximum number of deserving candidates. PRESS RELEASE

China to raise retail fuel prices BeiJing AGENCIES

China will raise the retail prices of gasoline and diesel from Saturday, the country's top economic planner said Friday. Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be increased by 175 yuan (about 27.41 U.S. dollars) and 170 yuan per tonne, respectively, according to the National Development and Reform Commission.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly. China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation, have been asked to maintain oil production and facilitate transportation to ensure stable supplies.

Huawei launches modern center to boost training on emerging technologies in East Africa nairoBi AGENCIES

China's telecommunications firm Huawei has launched an upgraded and expanded training center on emerging technologies to spur the fourth industrial revolution across the east African region.

"I commend Huawei's commitment to build and equip this training facility and upskill and reskill our local workforce," Jerome Ochieng, principal secretary in

Kenya's Ministry of ICT said in a statement issued on Friday.

The revamped East Africa Regional Training Center, based in Nairobi, will be a knowledge hub on the latest technology in mobile networks, fiber networks, energy solutions, and integrated telecommunications infrastructure. It is equipped with state-of-theart equipment designed to provide practical skills to telecommunication operators, government ICT officers, network contractors, university students, and corporate employees.

Kenya's Digital Economy Strategy 2021 roots for developing a critical mass of skilled personnel to ensure the country reap the benefits of the fourth industrial revolution.

Ochieng said the launch of Huawei's supported training center will help bridge the skills gap and spur the growth of the digital economy in the country.

The center started operations in 2008 and has trained over 7,200 people across the region, hence making significant contributions to the establishment of a robust ICT

cmYK

ecosystem through nurturing talents and skills. Over the years, it has evolved to focus on providing practical skills on installing home fiber and wireless networks, hybrid energy installations, antennas, and poles for aerial fiber.

Duan Xue Peng, vice president, Huawei Southern Africa said the launch of the revamped training center marked a milestone in efforts to create a critical pool of skilled workforce required to support the growth of Kenya's digital economy.

"It is critical that we not only develop the best technologies but also develop the best people across the whole industry to install and use those technologies," said Duan, noting that they plan to utilize it widely to benefit as many people as possible and put Kenya at the forefront of ICT. Therese Ndong-Jatta, director of the UN Educational, Scientific and Cultural Organization (UNESCO) Regional Office for Eastern Africa said that skills upgrade is key to spur a digital revolution in the continent.

Saturday, 12 June, 2021

06 COMMENT

China-Pakistan Economic Corridor: Status and Strategy

PTI’s third budget From consolidation to growth

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he 2021-2022 budget has ambitious targets: 4.8 percent growth rate, Rs 5,829 billion in FBR revenue, Rs 964 billion for development works, an export target of $26.80 billion and import target of $55.30 billion, growth in large scale manufacturing 6 percent, agriculture 5 percent, cotton 10 percent, services sector 4.7 percent and construction 8.3 percent.

It is a growth budget which raises two important questions. Will the government succeed in spending the huge amount allocated for development? The question is relevant because in the last two years the government managed to spend only a fraction of the allocated amount and most of the projects remained in the pipeline. A perception was created that big development figures were aimed at gaining political mileage. Another question is whether the growth being promised will be both sustainable and inclusive?

While both the IMF and the Pakistan government agree on the need to considerably enhance the country’s revenues, there are differences over the way to raise them. The Fund insists on automaticity in the hike of electricity charges to get rid of the circular debt. It also wants an increase in taxes.

The government maintains it has worked out alternate ways of raising the finances that would not burden the man in the street. What are the measures the government has in sight?

If it is really a people-friendly budget as claimed by the government, it would not be enough to raise the salaries and pensions of government employees or to refrain from imposing any new tax on the salaried class. Prime Minister Imran Khan had promised to raise the purchasing power of the common man. This requires providing jobs to millions who are unemployed. For this, the SMes which are major job providers should have been given sufficient stimulus to expand their activities, which is missing in the budget.

Similarly, Kamyab Pakistan schemes that are aimed at providing gainful employment should have been allocated sufficient funds.

The budget recognizes the need to concentrate on the agricultural sector to bring the prices of food items under control. Besides providing farmers subsidies on inputs there is also a need to help them adopt modern agricultural practices that not only increase production and reduce costs, but also control wastage of water.

Dr rajkumar Singh

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he much publicised China-Pakistan economic Corridor (CPeC), launched with great fanfare, is a part of Beijing’s ambitious global plan Belt and Road Initiative (BRI) meant for infrastructural development of small and medium range nations of the world although, its original scheme dated back to the 1950s when the need for a corridor from the Chinese border to Pakistan’s deepwater ports on the Arabian Sea was felt that motivated the two powers to construct the Karakoram highway beginning in 1959, followed by Chinese interest in construction of a deep-water harbour at Gwadar in Pakistan in 2002 and completed in 2006.

The further plan for the current CPeC, after two years (2013-2014) of extensive discussions and highlevel visits from both sides, the Chinese government announced in the last quarter of the year 2014 its intention to finance Chinese companies as part of its $45.6 billion energy and infrastructure projects in Pakistan. As a follow-up of the announcement, an agreement to this effect was signed on 20 April 2015 during the state visit of Chinese President Xi Jinping to Pakistan, and in line to further augment the scale and scope of CPeC, 20 more agreements were signed on 12 August 2015 which commenced a series of agreements for expansion of the works in different spheres and in proportion volume of the Chinese aid, grants and loan also multiplied.

On the other hand, the Chinese BRI became very popular all over the world and about 140 countries gave their consent for the scheme, while many of them reached the verge of bankruptcy and became defaulters to Beijing, especially after the worldwide spread of the covid-19 pandemic. The new situation also posed several hurdles in further implementation of CPeC projects in Pakistan, also causing a lot of harassment and accusations from both sides.

Whooshing through the National Assembly Laws are supposed to be discussed

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he hasty passage of 21 bills by the National Assembly on Thursday, with the rules suspended to avoid debate, does not speak much for the house’s ability to debate legislation when it is passed. The rules of the house permit this by passing of the rules, but it is supposed to be a special procedure, used as a last resort, not simply to let the Treasury get through legislation conveniently. One result of the haste shown is that a law allowing electronic voting machines at the next election has gone through without a word being said for or against.

Similarly, the NePRA Act has been amended to allow the regulator to hike tariffs rather than, as at present, recommend tariff raises to the government, which would then notify them wholly or partially. It was expected that these two, among others, would have provoked the opposition to hold forth, and the defence of the government was to have helped enlighten the nation about these measures. however, as the Prime Minister has shown that he sees the National Assembly merely as a mechanism by which he is to be given executive power, and his long absences from the house show he does not consider it a repository of the wisdom of the nation, it is no wonder that members of his party share the same attitude. That would explain why the opposition has moved a vote of no-confidence against Deputy Speaker Qasim Suri. It is unlikely that the motion will pass, for it would mean the government has lost its majority, but it is probably the only way the opposition can register its protest. The presiding officer is not supposed to expedite government business, but ensure that the house is conducted according to the rules.

The government has brought forward this rash of legislation because it wishes to bring these bills before the Senate. It will be a test of that house, whether it allows those bills to go through, or it ensures the debate that the nation craves. Though the government got its nominee elected Chairman, there is no guarantee that the legislation will have such smooth passage. If any bill fails, it will be referred to a joint sitting, where the government and its allies can probably muster a majority. however, the government should remember that the purpose of Parliament is not merely to legislate, but to legislate well. And that means a lot of debate, not all of it necessarily brilliant, but still reflective of the collective wisdom of the nation.

attiya munawer

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he War on Terror is still going on after a long time. Terrorism has not been completely eradicated from the country yet, because anti-peace forces are patronizing the terrorists. Terrorists carry out terrorist activities wherever they get a chance. Now, Balochistan province is their main target, where sporadic acts of terrorism continue. Four FC personnel have been martyred and eight injured in two recent terrorist attacks on FC personnel in Quetta and Turbat. Antistate forces and elements backed by enemy intelligence agencies want to sabotage the peace and prosperity of Balochistan through such cowardly acts. however, the security forces are committed to thwart-

Arif Nizami Editor Managing Editor

Joint Editor

Umar Aziz Executive Editor

Lahore – Ph: 042-36300938, 042-36375965

It will provide China with an alternative route for energy supplies, as well as new route by which Western China can conduct its trade; however, in context of the Straits of Malacca being dominated by the USA, in particular, CPeC provides China an alternative route in case of any negative action by the USA. In addition, China is heavily dependent upon sea routes which pass through the South China Sea near the disputed area, Spratly Islands and Paracel Islands, currently a source of tension between China, Taiwan, Vietnam, the Philippines and the USA and in the circumstances, the alternative route provided by CPeC would decrease the possibility of confrontation between Beijing and Washington. The CPeC alignments will improve connectivity to Xinjiang province of China, increasing the region’s potential to attract public and private investment. As a result of the CPeC, Chinese imports and exports to the Middle east, Africa, and europe would require much shorter shipment times and distances and also alternative route to Afghanistan and Central Asia.

As the people’s Republic of China is the most resourceful country of the region, there is no doubt in its funding capability, but the repayment capacity of Pakistan has remained always in doubt keeping in consideration the already torn economic condition of Islamabad which was pushed further into a decline due to the slowing down of the global economy in the context of the covid-19 pandemic, which began at the close of the year 2019 from Wuhan, China, and spread to over 200 countries of the world. Thus, in the situation, political fragility, increased interference of security agencies and the army establishment in matters of civilian administration, have put additional pressure on ambitious CPeC projects currently ongoing in Pakistan. The hurdles faced by China in the implementation of its projects related to the BRI have disappointed Beijing and the deferral of the crucial 10th meeting of China-Pakistan economic Corridor’s Joint Co-operation Committee (JCC) testify their differences on the issue. Since the commencement of the projects, the opposition parties of Pakistan have also abused it as a political tool not suitable for a country like Pakistan.

The hurdles faced by China in the implementation of its projects related to the BRI have disappointed Beijing and the deferral of the crucial 10th meeting of China-Pakistan Economic Corridor’s Joint Cooperation Committee (JCC) testify their differences on the issue.

The writer is head of the political science department and dean of the Social Sciences faculty of the B.N.Mandal University, Madhepura, Bihar, India.

He can be reached at rajkumarsinghpg@gmail.com

Commitment to fight terrorism

Dedicated to the legacy of the late Hameed Nizami

Yousaf Nizami Aziz-ud-Din Ahmad

CPeC is one of the biggest and largest infrastructural development schemes of independent Pakistan, intended to rapidly upgrade its required structural basics and strengthen itas economy by the construction of modern transportation networks, numerous energy projects and special economic zones.

This renovation plan for the Pakistani economy includes: a. projects in Gwadar Port and City, b. roadway projects, c. railway projects, d. energy sector projects, e. other areas of co-operation in agriculture and aquaculture, science and technology.

The plan being a landmark project in the history of Pakistan, is the largest investment Pakistan has ever attracted since independence and also the largest by China in any foreign country, and therefore both the Pakistani government and media as well have called the investment a ‘game and fate changer’ for the region that will ultimately make country a regional economic hub, further strengthening and cementing ties between the two countries. The first impact of Chinese investment was visible in the energy sector, in which the country had been facing shortages for long and was facing a shortfall of over 4500 MW on a regular basis but in December 2017, Pakistan succeeded in producing surplus electricity.

In addition to the schemes and detail of projects, there was a separate arrangement for the finance of the works which would come in the form of concessional loans, interest-free loans, private consortia, and assistance from the Asian Development Bank. Of the total approximately $11 billion will be dispersed by the exim Bank of China, China Development Bank and the ICBC at an interest rate of 1.6% while as per an announcement made by the government of China in August 2015, concessionary loans for several projects in Gwadar totaling $757 million would be converted in 0% interest loans. In a further development in September 2015 China announced that the $230 million Gwadar International Airport project will be considered a grant which the government of Pakistan will not be required to repay. For energy purposes $15.5 billion are to be constructed by joint Chinese-Pakistani firms, rather than by the governments of either China or Pakistan. The exim Bank of China will finance those investments at 5-6 % interest rates. The other dozen or so projects are to be financed by the Asian Development Bank.

From all counts number one beneficiary of the China-Pakistan economic Corridor is Beijing and if all things remain normal it is in the interest of Islamabad.

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ing the nefarious aims of such elements by sacrificing their lives.

At present, Pakistan is facing many internal and external enemies at the same time, and some of them are conspiring against the development and prosperity of Pakistan from outside and some are trying to cause harm while staying inside Pakistan. Some elements in Pakistan also fall prey to the conspiracies of the enemy without understanding them and then try to set fire to their own house by becoming tools of the enemy. Our armed forces and intelligence agencies are keeping an eye on all such elements and the enemies who use them and are working at all times to thwart their conspiracies. The security agencies have the confidence and support of the nation every step of the wy. And the nation also prays for the success of its zealous armed forces.

The Pakistan armed forces and people are committed to working together to tackle the global problem of terrorism. Chief of Army Staff Gen Qamar Javed Bajwa has reiterated his commitment to confront the scourge of terrorism by adopting an approach involving th whole of the nation. he said that resolving long-standing conflicts could lead to lasting peace and stability in South Asia and address complex challenges with meaningful and serious cooperation from the international community.

Pakistan’s military and political leadership have repeatedly drawn the world’s attention to the complex situation in the region. however, the international community, which is concerned with parochial interests, has been only talking about resolving the issues verbally. Mediation has also been offered, but in practice, no effective progress has been made so far.

Despite the disappointing attitude of the international community, Pakistan is striving for peace in the region, but India is adamant with its aggressive intentions, as it is backed by the USA and Israel. On the

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one hand, the USA is seeking Pakistan’s help in withdrawing from Afghanistan, while on the other hand, it is also strengthening India’s defense. As a result of this duplicitous policy, peace in the region is at stake.

The USA imposed its war on Pakistan yesterday and still does today. It is forcing Pakistan to maintain its monopoly in the region. The USA has never made a serious effort to compensate for the sacrifices made

by Pakistan because the USA is well aware that its interests can be achieved by offering a little economic aid to Pakistan.

For the first time, Pakistan’s military and political leadership not only refused the US demand to Do More, but despite not providing the required cooperation, the country is ttusing all its resources to fight the enemy forces, the Pakistan Army has an everlasting history of sacrifices to eradicate terrorism and bring peace in the region, which is why the anti-peace forces occasionally conspire and mischief for their nefarious purposes, targeting the security forces.

The aim is to create instability in the region, but the Pakistani forces and the people together can cope well with the critical situation. The soldiers of Pakistan armed forces have written with their blood unforgettable stories for the defense and security of the motherland. Thanks to these sacrifices of the Armed Forces of Pakistan, the entire nation is proud of them.

The biggest goal of the Pakistan Army is to defend the country’s borders. The Pakistan Army has not only wiped out terrorists in its own country but has also shown a new way of life to those in need by sacrificing their lives in other countries. however, there is a need for us to create unity in our ranks and become a solid wall and resolve that no matter how hard the enemy tries, we will never allow the Pakistani forces to weaken.

The writer tweets at Twitter:@Attiya Munawer

Email: editorial@pakistantoday.com.pk

Saturday, 12 June, 2021

COMMENT 07 Editor’s mail 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

Development

Facilitators & spoilers Inside the Afghan peace process

muhammaD ZahiD rifat

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FGhANISTAN is an important state approximately situated in Central Asia. It has its borders in the east and south with Pakistan and uses the sea route via Pakistan. Both countries have about 2600 km long border, fencing of which is nearing its completion to ensure hostile and anti-peace elements do not cross into Pakistan with ulterior motives.

Afghanistan has been suffering from wars since the 1970s. After the brutalities of the civil war, the country was invaded by the USSR in 1979 and after its withdrawal without achieving the desired objectives and suffering heavy losses, the USA attacked Afghanistan in the wake of the 9/11 terrorist attacks on New York and Washington DC in 2001. Afghanistan has suffered the most due to wars and instability, and has lost billions of dollars and thousands of armed forces, security agencies personnel and civilians, including women and children, in the War on Terror which the USA had started.

Pakistan has been supporting the peace process in Afghanistan and had played a key role in bringing the Taliban and the USA to the negotiating table, with both sides signing the peace deal in Doha, Qatar, on 29 February 2020 as a prelude to end the longest war in US history. Pakistan played a positive and constructive role in this regard as a facilitator for the Afghan peace process, and its efforts were duly appreciated and acknowledged not only by the US leadership, but also other peace-loving countries around the world. Pakistan, while bringing the two sides on the negotiating table, has also been stressing upon the Afghan government and the USA to keep close eyes on the spoilers, many of which are active here, there and everywhere to see that the ongoing Afghan peace process is derailed before its cherished objectives are realized.

In pursuance of the Doha Peace Agreement signed between the USA and the Taliban through the positive contributions made by Pakistan, on new US President Joe Biden’s orders, withdrawal of US and allied NATO forces his yw had started from 1st May, with the withdrawal scheduled to be completed by another 9/11, on September 11 year, marking the 20th anniversary of the terrorist attacks on New York and Washington DC. Dialogue is the only meaningful solution to end the long war in Afghanistan and let peace return to the war-torn country as early as possi-

ble. Pakistan has played its vital role in bringing the Taliban to the negotiating table with the USA and signing the Doha Agreement.

Pakistan has been striving hard for ensuring peace and stability in Afghanistan, has been the most affected neighbouring country by the longevity of the Afghan war which was not in the favour of the whole region in particular as well as the world powers on the whole. The civil and military leadership of Pakistan as the facilitator have all along been stressing on an Afghanled and the Afghan–owned peace process.

But if Pakistan is there as the facilitator of the long-sought Afghan peace process and the USA also wants to end the longest war and withdraw its forces from Afghanistan, there are also spoilers on this much wanted and desired peace process.

It is apparent that the Afghan government itself is not happy with the positive and constructive role played by Pakistan in the peace process. The Afghan government headed by President Ashraf Ghani is resorting to all sorts of delaying tactics to derail this peace initiative somehow or the other. Spoilers are trying their hardest to derail this peace initiative and secure their vested interests by continuously using the soil of Afghanistan with ulterior objectives, Afghan President Ashraf Ghani and his close aides are apparently unhappy with the peace agreement as they believe it has put the Taliban in the driving seat. This is evident from President Ashraf Ghani’s recent interview to a German newspaper where he had accused Pakistan of covertly supporting the Taliban and allowing the insurgent leaders to direct violence inside Afghanistan. The Foreign Office of Pakistan has strongly denied these baseless allegations levelled by the Afghan President. The use of filthy language against Pakistan by the National Security Adviser of Afghanistan also cannot be without the consent and approval of the Afghan President.

Indian interests in Afghanistan are also threatened with the ongoing Afghan peace process.

India has been supporting the terrorists’ outfits in Afghanistan and New Delhi’s nexus with the Tehrik Taliban Pakistan, Islmic State Khorasan Province and Afghan intelligence agency NDS are also well-known. A stable Afghan-Pakistan border is also something India is unhappy about.

India has been resorting to terrorist activities inside Pakistan and is obviously opposed to the ongoing process of fencing of the Afghan-Pakistan border, a forerunner to peace and stability.

Afghanistan has been at war for more than four decades and all these years millions of

Afghans have lost their lives. The Afghan people had fled to Pakistan in the wake of the Soviet invasion in large numbers, and over three million are still being hosted by Pakistan to the appreciable acknowledgement by the UN high Commissioner for Refugees and other international forums and forces.

Needless to mention here that Pakistan cannot afford persistent instability in Afghanistan, as time and again pointed out by its civil and military leadership. It is also notable that Pakistan is striving for collective development of the region and also willing to make maximum possible contributions to the rebuilding of Afghanistan, once complete peace and stability returns to the war-torn country. Only an Afghanled and Afghan-owned solution can lead to durable peace and stability in Afghanistan.

Pakistan is genuinely concerned and worried about its immediate western neighbour, Afghanistan.

These worries are getting more and more serious and problematic with the passage of time. The US troops withdrawal from Afghanistan is taking place at a much faster pace and is likely to be completed earlier than the stipulated deadline of September 11, as given by President Joe Biden.

Prime Minister Imran Khan in an interview has stated that it is very important for Pakistan to have a political settlement and stability when the Americans leave and a government with consensus is established in Afghanistan that could prevent the country from descending into anarchy. The Prime Minister has quite rightly further said that we are concerned that if the Americans leave, and there is no political settlement, a situation may arise similar to the aftermath of the Soviet departure from Afghanistan, which will be detrimental to Pakistan as well as other neighbouring countries.

Cutting a long story short and wishing for early return of peace and stability in Afghanistan, as sincerely desired by civil and military leadership of Pakistan, it is also imperative that an international forum comprising the stakeholders is in place to ensure that the desired objectives are achieved, that the peace initiative fully supported

by Pakistan is not in any manner destroyed by the spoilers like India and even those inside Afghanistan itself. It is high time that peace is given a fair chance in war-torn Afghanistan, which will be greatly encouraged and appreciated by the people and government of Pakistan.

Wishing for early return of peace and stability in Afghanistan, as sincerely desired by civil and military leadership of Pakistan, it is also imperative that an international forum comprising the stakeholders is in place to ensure that the desired objectives are achieved, that the peace initiative fully supported by Pakistan is not in any manner destroyed by the spoilers like India and even those inside Afghanistan itself

The writer can zahidriffat@gmail.com

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ARISTOTle aptly said, “ poverty is the parent of revolution and crime.,”poverty means hunger, lack of shelter,lack of education facilities.Is it has known as Pakistan is recognized amount one of the developing country in the world, but still poverty is a big problem in Pakistan,according to a estimate around 210 million people and around 245 percent is live below the poverty line.The government seem not keep to solve the poverty problem.one of the reasons of poverty is corruption.The government officials are only doing policies.They are aware what is being passed on poor people? but still they are silent, the officials of Pakistan government are involve in corruption, they are in business of making more and more money, instead of fulfilling their duty.unfortunately,rich are being rich poor are being poor and matters are being deteriorated day by day.According, to a another report around poverty declined to 11.2 percent in 2018,2019.povery in both rural and urban areas declining with poverty headcount of 12.5 percent in rural areas as latest statistics.As per latest yearly statistics 58.6 percent of Balochistan,24.2 per cent of kpk,27.7 percent of Sindh and 14.2 percent of Punjab.Similarly, 11.2 percent of Pakistan,s poor lived in Balochistan,17.6 percent lived in KPK,28.0 percent lived in sindh, and 39.55 percent lived in Punjab. Morever, it is clear that Pakistan is an Agricultural country,most of population is engaged in agriculture, and we know that by farming one only feed his children and can’t afford other facilities.education system in Pakistan is equal to nothing.they are deprived from modern techniques of education because poverty inflation rate is high.however, literacy rate increase in all province, k p k (54.1 percent to 55.3) Punjab,(61.9 percent to 64.7,) and Balochistan (54.3 percent to 65.5) except sindh (63.0 percent to 62.2). Our leader know how to finish poverty? but they are silent, they are left poor people to die, by poverty unemployed is increasing day by day that is the main cause of social crimes.for earning money the mostly youth of the country are found in making crimes.As Mahatma Gandhi said truly there are people in the world so hunger, that God can’t appear to them except in the form of bread.

Mahtab abdullatif turbat

Illegal fishing eVeRYONe knows it is the hatching season of fish. Accordingly, the Punjab Fisheries Ordinance has banned the fishing from June to August yet contractors are seen catching fishes in the river Indus. According to some sources, the mafia behind the illegal fishing was protected by local politicians. This is the only reason that fisheries department was unable to take action against those who violated the rules and regulations. however, it is pretty hard for fishermen to not break the ban since fishing is the only source of their livelihood. Additionally, we must also keep one thing in our mind that these two months may affect the earning, but after that the yield will be enough to cover the losses. I request to the authorities concerned to take immediate actions against the illegal fishing and make sure it doesn’t happen again. iqra KariM tuMp

Islamophobia existence ISlAMOPhOBIA is the fear of hatred of, or prejudice against the religion of Islam or Muslim by the source of terrorism. The recent heartbreaking attack by terrorists on a family in Canada proved that islamophobia do have existence and a lot of such cases have already taken place, so it is the right time that all countries should raised voice against it as the ministers of Canada and China have stated that “Our country with it’s people are supporting us with this” and they stand neck to neck to end it from the root. As islamophobia has consequences which will carry great loss like destruction of a have family.

NiMra aMiN Shal

High Internet taxation SIR, With the pandemic shifting classes online, the need for stable and affordable internet access for students became exponentially more pronounced. In this digital age where internet is a necessity, making communication affordable and being able to easily stay connected should be the top priority. however, consumers are being excessively taxed on internet usage through unreasonably high advance income and sales taxes.

I do not come from a financially privileged family and it seems absurd to me to spend such high amounts of money on something as basic as access to education. In these times of financial hardships, citizens are being brazenly subjected to extortion by the federal government in the name of these undue taxes. Policies need to be set in place in order to provide each student with equal access to education through the provision of unfettered and affordable access to the internet.

GulShaN Naz Karachi

Insensitive Comment I want to draw your attention towards an important issue that is recently, a clip has been going around all over social media of Iman Aly, who while talking about her insecurity in her appearance, highlighted an important issue of how no matter how much people praise and compliment you, until you develop self love, you can never be satisfied with yourself, but, while taking about it, she referred to her not looking pretty by calling her appearance “khusra”. It was insensitive as she basically used a word that is used to refer to a transgender person and used it as a synonym for looking ugly.

At this moment in time, while trans people are struggling to make themselves a part of society and being degraded at every step of life, having their identity being used to describe ugly is incredibly demeaning for them. This wasn’t expected from Iman Aly who is as well spoken and privileged in life as she is, to know much better word rather than to still continue to use the word “khusra”.

WaNia aShraf Karachi

Saturday, 12 June, 2021

08 WORLD VIEW

PeNtagoN works to move trooPs to couNtries Near afghaNistaN

staRs and stRiPes

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CorEY diCKStEiN

HE Pentagon wants to put counterterrorism forces in nations neighbouring Afghanistan to monitor terrorist activity in that country after U.S. troops end their twodecade fight there, top U.S. defense officials said Thursday.

Pentagon officials have yet to strike any agreements to place those troops near Afghanistan after the ongoing withdrawal, Defense Secretary Lloyd Austin told the Senate Armed Services Committee. That withdrawal, which the U.S. military said this week was about half completed, could be finished as early as July, Sen. Jack Reed, DR.I., the committee’s chairman, indicated during the hearing focused on the Pentagon’s fiscal 2022 budget request.

“Those [counterterrorism] efforts will be focused on those elements that can possibly conduct attacks against our homeland,” Austin said, singling out al-Qaida as his top concern. “As we have retrograded … a lot of our combat aircraft or missions are being conducted from platforms in the [Persian] Gulf [region]. And so, we have the capability now to do that. now, what we are looking for is the ability to shorten the legs going forward by stationing some capability in neighboring countries, [and] that is still a work in progress.”

Austin told senators that he and the State

AUSTIN DID NOT REVEAL THURSDAY WHETHER THE PENTAGON HAD PLANS TO INTERVENE IF THE TALIBAN APPEARED POSITIONED TO OVERRUN KEY LOCATIONS IN AFGHANISTAN, INCLUDING ITS CAPITAL KABUL, WHERE THE UNITED STATES INTENDS TO MAINTAIN AN EMBASSY Department were working “as quickly as we can” to solidify plans, but he did not yet have a timetable on when an agreement might occur.

Pentagon officials have touted the U.S. military’s ability to respond to problems in Afghanistan since President Joe Biden ordered in April the full withdrawal of American troops by Sept. 11, 2021. But Austin and others have not detailed precisely what so-called “over-the-horizon” capabilities they have in place or what forces they might add. They also have not publicly detailed scenarios in which they would send American troops or aircraft back into Afghanistan to respond.

Austin said Thursday that U.S. troops for now continued to support Afghan national Security Forces in their fight against the Taliban but doing so after withdrawing from Afghanistan would be “very difficult to do.”

His remarks came just days after a new U.n. report warned the Taliban appeared poised to take back control of Afghanistan for the first time since it was ousted from power by the United States in 2001 in response to the 9/11 terrorist attacks. The U.n.

Security Council report stated the Taliban believed its recent battlefield gains strengthened its negotiating position to regain power,

and the insurgent group was also preparing to take the country back from the U.S.-supported government by force, if necessary.

Austin did not reveal Thursday whether the Pentagon had plans to intervene if the Taliban appeared positioned to overrun key locations in Afghanistan, including its capital Kabul, where the United States intends to maintain an embassy. A new York Times report Thursday quoted unnamed defense officials who said the Defense Department was considering scenarios in which it might send warplanes or armed drones to respond to Taliban attacks, including on Kabul. That report said no decisions had been made.

Austin did not directly address those alleged negotiations within the Pentagon when asked about the report by Sen. Jeanne Shaheen, D-n.H. The 2022 Pentagon budget request does seek about $3.3 billion to support Afghan security forces next year. That money traditionally has paid for equipment and training.

U.S. and nATo officials said last week that they were looking to continue training for Afghan commandos somewhere in Europe.

During the wide-ranging hearing on the Pentagon’s $715 billion budget request for

fiscal 2022, Austin and Army Gen. Mark Milley, the chairman of the Joint Chiefs of Staff, repeatedly defended the first funding proposal under Biden’s administration as adequate to ensure short-term and long-term national security.

Republicans attacked the submission as too small. While the request seeks a modest $11 billion funding boost over the Pentagon’s 2021 budget, it represents an essentially flat spending plan when adjusted for the about 5% inflation rate since last year. “This is an inadequate defense budget,” said Sen. Roger Wicker, R-Miss., who encouraged his Senate colleagues to “reverse this and to get our troops and our nation the national security budget that they need.” Sen. Jim Inhofe of oklahoma, the committee’s top Republican, said the budget failed to keep pace with the Congress-mandated 2018 national Defense Strategy Commission’s recommendation of an annual 3-5% of real growth in the defense budgets to ensure the U.S. military remained ahead of China.

“Since then, the threats have gotten worse,” Inhofe said. “And this administration gave us a budget that cuts spending

What to do about billionaires who pay no taxes ORACLE'S BILLIONAIRE CHIEF EXECUTIVE, LARRY ELLISON, USED $10 BILLION IN COMPANY STOCK TO SUPPORT A LINE OF CREDIT, AND TESLA'S BILLIONAIRE CEO, ELON MUSK, USED MORE THAN $55 BILLION WORTH OF COMPANY STOCK TO SECURE PERSONAL LOANS Los angeLes times

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Editorial Board

oTHInG galls taxpayers as much as hearing about people with far bigger incomes who paid a lot less than they did to the Internal Revenue Service. So when ProPublica reported Tuesday that some of the richest people in America paid no income taxes at all multiple times in the mid-2000s, the revelation triggered a wave of outrage from people not so adept at tax avoidance.

What's worse, the authors contended, is that the tax burden on the richest Americans shrank as their wealth soared. But that wasn't an apples-to-apples measure. The authors looked not just at what these billionaires collected in salary, dividends and interest, but also at the escalating value of their stock holdings — gains that are not considered taxable income until the stock is sold.

To some observers, that's a feature of the tax code, not a bug. If you tax the gain in an unsold stock's value in good years, the IRS will have to pay refunds to those same taxpayers when their shares decline in bad years. And what about investments whose value isn't so easy to determine, like non-fungible tokens or ownership shares in a startup that has yet to go public? Taxing gains when they are realized — when an item is sold or transferred — is far more straightforward.

Still, the accumulating wealth of the taxpayers analyzed by ProPublica points to a real problem: the income and wealth inequality that has widened over the last four decades in this country. The trend has accelerated in the wake of the 2017 tax cuts championed by President Trump, and particularly during the CoVID-19 pandemic. A driving force has been the rapid rise in stock values; the wealthiest 10% of households own more than 80% of the stocks.

The financial chasm between the wealthiest households and the vast majority of Americans challenges the country on multiple levels, both social and economic. And policymakers should certainly try to reverse the growing inequality and narrow the gap. There are a variety of ways to do that, but like all things related to tax policy, each of the possible solutions comes with tradeoffs.

The place to start would be by narrowing or eliminating the exemptions and preferences in the tax code whose benefits accrue almost exclusively to high-income taxpayers — especially people earning $5 million or more, who pay a lower share of their income in taxes than other wealthy Americans. one preference worth eliminating is the lower tax rate for capital gains; according to the Tax Policy Center, more than 90% of those gains in 2019 went to the households in the top 20% of incomes.

Beyond that, one approach touted by progressives would be to impose a "wealth tax" that requires people with assets worth more than a certain threshold — for example, $50 million in the proposal by Sen. Elizabeth Warren (D-Mass.) and Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) — to pay a percentage of that value annually. This would also be the most disruptive measure, given the potential effects on small and closely held businesses, family farms and assets that are hard to value.

It's not an unprecedented idea — versions of a wealth tax have been tried in a number of other jurisdictions — but most of the European countries that tried a wealth tax abandoned it. one reason is concerns about the tax's effects on their economies, which would be felt by rich and poor alike. A study by the organisation for Economic Co-operation and Development found that the wealth taxes in Europe discouraged entrepreneurship and risk taking, and consequently job creation, because they weren't as forgiving of losses as income taxes are.

A more novel alternative laid out by Senate Finance Committee Chairman Ron Wyden (D-ore.) would be to require wealthy individuals to measure how much their investments have risen or fallen in value annually and treat that as income (or lost income), taxed at the same rate as wages. Investments that can't be traded, such as a startup founder's ownership shares, would be taxed when sold, with a higher rate applied to compensate for the years they went untaxed. But there are plenty of other tradeable assets that can be hard to value before they're sold.

And like a wealth tax, Wyden's proposal could force people to sell assets in order to pay their tax bill.

How that would affect the market and investment in-

centives is an open question.

Proponents of taxing unrealized gains argue that the wealth isn't just on paper. People use their investments as collateral for loans, generating potentially enormous sums that aren't taxed (and, depending on how they're used, may even lower the borrower's tax liability). According to securities filings, ProPublica reported, oracle's billionaire chief executive, Larry Ellison, used $10 billion in company stock to support a line of credit, and Tesla's billionaire CEo, Elon Musk, used more than $55 billion worth of company stock to secure personal loans.

So why not tax gains on shares used to collateralize a loan or support some other transaction?

That would hew to the logic of the current system, and wouldn't discourage taxpayers from making investments for the long term — it would simply prevent them from generating consumable income in a way that avoids taxes. Think of it like a consumption tax that applies only to people at the top of the economic ladder. A broad tax on stock purchases and other financial transactions would also fall far most heavily on the top 20% of incomes, although the effects could ripple broadly through the economy.

Congress should also prevent taxpayers from passing enormously valuable estates on to their heirs free from capital gains taxes by rolling back the "stepped up basis" rule, which revalues inherited properties in a way that wipes out the taxation of all prior gains. President Biden has proposed this change to help pay for his $1.8-trillion American Families Plan, with an exception for family-owned farms and businesses that the heirs continue to operate, and it's worth making.

Estate taxes are one of the two main types of wealth tax in the United States today (the other being state and local taxes on real estate and certain types of personal property), and attempts to raise them have been bitterly contested in Congress. But then, any change in the tax code would be a challenge these days. And making the current estate tax a more effective counterweight to widening income inequality would be a simpler and less disruptive step than expanding the reach of wealth taxes.

when we need real growth. And they want the military to do more on climate change and pandemic response. More missions — but with fewer resources.” Even Reed called Biden’s budget submission merely “a starting point for Congress.”

Milley strongly defended the proposal.

He noted the budget was somewhat biased toward the future combat environment that top Pentagon war-planners predict — a fullscale, highly deadly war across air, land, sea, space and cyberspace domains. The budget request seeks more than $112 billion for research, development, testing and evaluation, an about 5% boost over the Pentagon’s 2021 RDT&E budget, which had been its largest ever to focus on future weaponry. That money, Milley said, is meant to ensure the U.S. military maintains its ability to overmatch its top priority, the rapidly improving Chinese military.

Austin listed hypersonic missiles, artificial intelligence, modern nuclear weapons and other next-generation weapons and capabilities as the critical infrastructure that the budget invests in to deter and, if necessary, defeat the Chinese military, which he has labeled the Pentagon’s “pacing threat” and top security concern. “We’re going after the capabilities that allow us to be not only competitive [with China], but actually dominant in this competition,” Austin said.

“Let me be clear. This is the most lethal force that has ever occupied the planet and it will remain so going forward. That’s what we remain focused on in the Department of Defense — defending this nation, and we’re going to go after the capabilities required to do so.”

The exodus from the Congress continues JITIN PRASADA’S POLITIC AL SWITCH REFLECTS THE DIMINISHED FORTUNES OF THE CONGRESS AND THE PERSISTENT APPEAL OF THE BJP Hindustan times Editorial

To the list of high-profile defections from the Congress to the Bharatiya Janata Party (BJP) since 2014, Himanta Biswa Sarma and Jyotiraditya Scindia, among others, former Union minister and Uttar Pradesh (UP) leader Jitin Prasada is the latest addition. Mr Prasada’s political switch reflects the diminished fortunes of the Congress and the persistent appeal of the BJP. The Congress’s problems are well-known. Those who belong to Rahul Gandhi’s generation linked their political fortunes to his rise.

But they now stare at an uncertain future. The party’s leadership structure is unclear and internal conflict resolution mechanisms are weak. There remain doubts over Mr Gandhi’s leadership and electoral appeal. The prospect of returning to power at the Centre is limited. Despite the recent backlash against the Centre on its Covid-19 mismanagement, the BJP remains the favourite for 2024. In UP, the best-case scenario for the Congress is coming a respectable fourth. And individual leaders are getting restless. And that is when the BJP provides the pull factor. Conscious that these new entrants reinforce the optics of a strong BJP and a weak Congress, the party is more than open to outsiders. It would be a stretch to refer to Mr Prasada as a Brahmin leader, and with three successive electoral losses (2014, 2017 and 2019), there are serious questions about his mass base. But in UP, where Yogi Adityanath’s government is seen as pro-Thakur, having Mr Prasada is a signal to Brahmins that the party is sensitive to their aspirations for representation in the run-up to the polls. At a time when the BJP is defensive about its governance, the entry also helps shift the narrative back to its political appeal.

Saturday, 12 June, 2021

BUSINESS 09

KARACHI corporate corner TOTAL PARCO partners with Careem to provide its captains with speedy mobility solutions LAHORE: Total PARCO Pakistan Limited (TPPL) and Careem, the Super App for the greater Middle East and Pakistan, signed an agreement to provide its Captains with TPPL’s mobility-related solutions at special discounts. Through this partnership, Careem Captains receive a flat discount on purchase of TPPL’s fuels, lubricants and other services like car wash, oil change in selected service stations nationwide. The solution will be integrated into Careem’s application where its Captains can easily access the offers. As the region’s everyday Super App, Careem is also a leading mobility solutions provider in the region with a vast network of Captains in the ride-hailing and delivery services. TPPL, similarly, has one of the largest footprints as an oil marketing company traversing the nation. This strategic partnership provides an effective solution to a significant client base through innovative solutions customized to meet the growing needs of Pakistan’s mobility sector. Speaking on the occasion, Chief Executive Officer (CEO) of TPPL, Mehmet Celepoglu, says, “Understanding and prioritizing our varied customer base by keeping their needs top-of-mind enables the company to create seamless user experience and stay abreast of ever-changing trends that would enhance customer loyalty. By partnering with prominent organizations such as Careem, TPPL furthers its ambition as a responsible energy major that aims to constantly create value product and service offerings to serve our customers.” Commemorating the partnership, CEO & Country General Manager of Careem Pakistan, Zeeshan Baig, says, “Captains are at the heart of what we do and we are always looking for ways to simplify and improve their lives. Partnership with TPPL will undoubtedly benefit our Captains and ease their financial expenditure allowing them to provide better service quality.” This partnership has strongly positioned TPPL to acquire new opportunities in the automotive segment. The management teams of both organizations look forward to a successful collaboration and will explore other avenues of mutual interest. Press release

Hamdard Pakistan’s “Rooh Afza float: Heat Wave Initiative” KARACHI: Hamdard Pakistan launched a month-long Rooh Afza float activity simultaneously in three cities on yesterday. More than 450,000 glasses of chilled Rooh Afza will be served on public places in Karachi, Peshawar and Lahore, during Hamdard Pakistan's 30-day heat wave initiative. As per the instructions of the Chief Mutawallia of Hamdard Pakistan, Sadia Rashid, teams of Rooh Afza brand ambassadors are assigned duties that comprise catering to the general public during the heat wave. Rooh Afza is being served as a chilled drink to people in the surroundings through an instant dispensing machine. To expand their reach this year, portable camps, mobile cold van are placed in different locations at a time including traffic signals, bus-stops, Deputy Commissioner’s offices, heat wave camps, vaccination centres, schools, markets, roundabouts etc. In Karachi, Ali Zaidi - Municipal Commissioner of Karachi formally launched Rooh Afza activity from the DC Office yesterday. He thanked Hamdard Pakistan for its initiative and hoped other companies would follow the example set by Hamdard. This activity is in full swing in all six districts of the city. In Lahore, Mudassir Riaz Malik – DCO, Ibrahim Rubab – Assistant Commissioner formally launched Rooh Afza Activity in the city in a launching ceremony organized by Hamdard Lahore in Qaddafi Stadium. The activity will encompass all public areas in the city.In Peshawar, Capt. (r) Khalid Mehmood inaugurated Hamdard’s CSR activity by cutting the ribbon in a ceremony. He lauded the gesture and efforts of Hamdard Pakistan to give back to the community. Press release

Faysal Bank initiates Vaccination Drive for employees KARACHI: Prioritizing the health and safety of their staff and customers, the leading Islamic bank of Pakistan, Faysal Bank Limited has initiated the FBL Vaccination Drive at their Head Office in Karachi. The vaccine will be administered, free of cost, to 7,000 plus employees of the bank (of ages 18 years and above). On the first day of the drive, over 300 employees received the single dose CanSinoBio vaccine administered by a team of certified health professionals. The Vaccination Drive will continue in the coming weeks with separate arrangement for female staff. Vaccination Centers were being set up at different locations within the bank’s network to facilitate employees across the country. MonisMirza, Head Human Resources at Faysal Bank said, “We, at Faysal Bank, have always believed in providing a safe and healthy working environment for our employees. All of our employees are encouraged to actively participate in this vaccination drive and play their part in curbing the spread of the virus to ensure a safe environment for themselves, their families and our customers.” As one of the top banks of the country, Faysal Bank has always emphasized on the wellbeing of their employees and customers. Since the onset of the pandemic the bank has been ensuring strict adherence to all health and safety protocols in its Head Office and branches across the country to provide a safe environment to all its staff and customers. Press release

AS EU PREPS DEBUT RECOVERy BOND, A REALITy CHECK FOR ‘SAFE ASSET’ HOPES

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s the European Union readies bond sales for its pioneering Covid-19 recovery fund, the scale and duration of the borrowing programme may disappoint those who had visualised last year’s deal for pooled debt as Europe’s Hamiltonian moment.

Agreed in July as the pandemic raged, the deal sparked hopes among investors that Europe would finally have a large and liquid "safe" asset to rival U.s.

Treasuries, in turn burnishing the euro's attraction as a reserve currency.

In short, some predicted, it would do for Europe what Treasury secretary Alexander Hamilton did in 1790 for the newly formed United states -- create a fiscal union. such optimism seemed exaggerated even then. A year on, as the European Commission prepares to sell bonds to finance the 800 billion euro fund, excitement has been tempered by doubts about the fund's potential to become permanent.

Without that, according to Chris Iggo, chief investment officer for core investments at AXA Investment Managers, the issuance is destined to be "a historical anomaly and the bonds will just get tucked away in insurance company portfolios".

"This has to be an ongoing thing, there has to be ongoing centralised borrowing capability ... otherwise it becomes a one-off thing that's not very interesting in the long run," said Iggo, who helps manage 869 billion euros.

"They won't trade and they won't be liquid."

As it stands, recovery fund borrowing will end in 2026. The debt pile will then shrink until the last

bonds mature in 2058.

EU budget commissioner Johannes Hahn repeated this week that the bonds were a reaction to a one-off event. The fund was "a strong signal of solidarity" following the pandemic rather than a Hamiltonian moment, he said.

German government bonds are Europe's fixed-income instrument of reference but at 1.5 trillion euros, the market is a fraction of the $20 trillion outstanding in U.s. Treasuries. some had hoped the recovery fund debt would form the basis of an issuance programme to eventually create a risk-free asset which, alongside Bunds, would eventually rival Treasuries.

BLUEPRINT: EU Commission Vice President Valdis Dombrovskis did recently hint that a successful recovery fund offered scope to develop a permanent instrument.

Germany's Green Party, which is likely to join the next government, also wants to make the fund permanent.

And the EU has done the groundwork, creating a debt office and a network of primary dealers banks to manage the programme and run debt auctions. some 90 billion euros in bonds it has sold since October to back its sURE employment scheme already trade more like sovereign securities, enjoying robust liquidity.

But wealthier EU states are likely to oppose any bid to make the fund permanent, and even the current borrowing plan took national parliaments six months to approve.

A more immediate risk is lower-than-anticipated issuance volumes, with banks predicting as little as around600 billion euros -- 25% below the top amount.

That's because governments show little interest in

TECNO launches Camon 17 series LAHORE: TECNO launched its new Clearest Selfie Camera phones, Camon 17 series in Pakistan. The phones were revealed on the Tech Talk Show with some renowned personalities live on TECNO’s official Facebook, YouTube, and T-Spot page. The Camon 17 Series will be available in both offline and online markets soon. Camon 17 series was the most talked-about series from TECNO in Pakistan. The announcement of Chris Evans as the global ambassador added to the hype. The social media hype reached its peak with hundreds of people joining the live Tech Talk Show on Friday. It was joined by the youth popular actors Hajra Yamin and Fahad Sheikh; the famous vlogger Rahim Pardesi, Tech Expert Bilal Munir, and the celebrity photographer Umair Bin Nisar. Press release

ACCA to host mega virtual Careers Fair on June 16 KARACHI: ACCA (the Association of Chartered Certified Accountants) is hosting a mega virtual Careers Fair on June 16 to connect talented students and professionals with country’s top employers. Building on last year’s successful inaugural event, this year’s fair will be even bigger and better. The job fair will be attended by over 130 leading brands from across Pakistan that are coming to recruit for over 600 job opportunities. The online event will also feature highly insightful sessions by country’s top career experts offering exclusive insights into the job market to help attendees with their effective career planning. A LinkedIn survey found that 85% of jobs are filled via networking. Hosted on a highly interactive platform, at ACCA’s Careers Fair, attendees will get an opportunity to directly interact with employers, career experts and fellow attendees to grow their network with valuable new connections.

Coming with an exciting mix of rewarding career opportunities, some of the big names joining the employment fair include AF Ferguson, HBL, K-Electric, KPITB, KPMG, Meezan Bank, Mobilink Microfinance Bank, Nestlé Pakistan, Packages Limited, PTCL, S&P Global, Telenor Global Shared Services, Ufone, Unilever Pakistan, and Zameen.com. Sajjeed Aslam, head of ACCA Pakistan, says: ‘It’s a great time to be an ACCA member in Pakistan. Despite the challenges and uncertainties arising from the pandemic, there is growing demand in the local job market for ACCA-qualified professionals with the right combination of professional and ethical skills.’ ‘We’re working closely with our large employer network in Pakistan to futureproof organisations and create exciting career opportunities for the new generation of finance professionals,’ he added. ‘ACCA is happy to offer a platform to country’s youth to connect with recruiters and get access to world-class career counselling from leading experts.’ Press release

Shaukat Khanum Online Qurbani Campaign Launched for 2021 The Shaukat Khanum Memorial Trust has launched its Online Qurbani Campaign for 2021.

The service is available for all Muslims around the World. During the ongoing pandemic, the Online Qurbani Service presents an excellent opportunity for the public on this Eid-ul-Azha to stay safe by opting a hassle-free, safe, healthy and economical mode of performing this religious obligation. The slaughter-houses are carefully selected that provide healthy goats and cows. It is ensured that the slaughtering services are rendered in accordance with the Islamic injunctions and within the stipulated time of performing Qurbani for Muslims residing in Pakistan and abroad. The Shaukat Khanum Online Qurbani Service gives the public an opportunity to share the joy of Eid with those who cannot afford it. Meat from Qurbani will be distributed amongst the needy in different parts of the country while all proceeds from the sale of animal hides will be utilized to support the treatment of needy cancer patients at Shaukat Khanum Memorial Cancer Hospital & Research Centres located in Lahore and in Peshawar. Each Year, over 75% of all cancer patients receive free of charge comprehensive treatment at the facilities of SKMT. The Qurbani orders can be placed through the website online (www.shaukatkhanum.org.pk) or by depositing cash or cheque at the Hospitals, local and overseas Regional Offices or Laboratory Collection Centres of the Shaukat Khanum Memorial Trust. Photos of the Qurbani process, from selection of animals to meat distribution, will be communicated to the public through social media Press release

Pfizer and BioNTech authorisation for Pakistan's immunisation programme “We are pleased to announce that Pfizer and BioNTech have received an emergency use authorization from the The Drug Regulatory Authority of Pakistan (DRAP) to supply its COVID-19 vaccine in Pakistan’s immunisation programme. We commend the Government of Pakistan for its careful assessment of our COVID-19 vaccine and timely action tohelp protect the people of the country. This marks a historic moment further affirming Pfizer’s commitment to thepeople of Pakistan”. said S. M. Wajeeh, Country Manager Pfizer Pakistan.

“We are proud of the fact that a COVAX shipment with Pfizer-BioNTech COVID-19 vaccines have arrived in the country.” Press release

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taking loans from the fund, which is set up to make grants as well as to lend. Of larger member states, only Italy so far has plans to use the 386 billion euro loan facility, according to Rabobank, although demand is likely to increase with time.

INTEGRATION: And old existential risks remain - without a fiscal union with common budget and taxraising policies, the EU will remain a supranational, rather than sovereign borrower.

Moreover, the recovery fund lacks a "joint and several guarantee", meaning that in event of default, each member state will be liable for only a part of, not the entire debt.

Future crises may induce the EU to top up the fund, leading eventually to permanency, said Nicola Mai, a member of the European portfolio committee at PIMCO, one of the world's largest asset managers.

"If, over time you have a joint and several guarantee and more permanence, you can call it more strictly a sovereign-type issuer," Mai said.

Until then, investors will demand a premium over Germany's Bunds to compensate for the slightest risk of a euro break-up, further hampering EU bonds' safe asset potential.

Currently, the EU pays 24 basis points more for 10-year debt than Germany.

Mike Riddell, who helps run almost 600 billion euros at Allianz Global Investors, sees EU debt becoming the risk-free benchmark "only in an environment where you have complete fiscal integration".

“Germany is ultimately going to be the risk-free rate for the euro zone for the foreseeable future,” he said. aGeNCIes

BankIslami’s ‘One Touch Banking’ to feature in Philip Kotler’s ‘Essentials of Modern Marketing’ LAHORE: BankIslami, one of the country’s leading Islamic finance institutions, has achieved yet another milestone by having a case study on its ‘One Touch Banking’ being featured in one of the latest editions of Philip Kotler’s marketing book; ‘Essentials of Modern Marketing’. The book is being published by Kotler impact inc. (Founded by Prof. Philip Kotler) in collaboration with Naqeebz. The Professor is widely regarded as the ‘Father of Modern Marketing', as his work gains increasing popularity amongst marketing students. BankIslami has always been at the forefront of revolutionizing the financial landscape of Pakistan.

From introducing a diverse range of Sharia-compliant banking services to being a constant innovator in bringing newer technologies to Pakistan, the institution has changed the way banking operations are carried out in Pakistan. Offering a seamless biometric banking solution, One Touch Banking allows customers to perform banking transactions with just a thumb impression and the ease of going chequeless and card-less at any given time. BankIslami is proud to be a shining example of progress that thrives despite obstacles, and to be a part of an essential book for the marketeers of tomorrow.

Commenting on the development, Syed Amir Ali, President and CEO, BankIslami, stated; “It gives us great honor and privilege that our initiative has been picked from thousands of other tasks being performed in various industries across the globe and will now feature as part of one of the most highly regarded books in the modern era. Philip Kotler is a true marketing genius who has come to define what the current state of marketing is. BankIslami is grateful to his team and customers for helping us achieve this feat.” Press release

Jazz to assist NCOC in its nationwide vaccination campaign ISLAMABAD: Following meetings with the National Command and Operation Centre (NCOC), Jazz is mobilizing its resources to carry out a nationwide awareness campaign, urging Pakistanis to get vaccinated. The decision was taken in light of the NCOC’s announcement and commitment that coronavirus vaccines will be mandatory for all public and private sector employees, so the country remains on course to reopen all sectors of the economy as soon as possible. In support of the national cause, Jazz will be activating its communication avenues to reach millions of people who are yet to get their vaccination jabs. This campaign will go live through print, digital and electronic mediums. Jazz aims to play a key role in systematically addressing vaccine hesitancy through effective communication strategies that increase trust in the national vaccination drive. “Realizing the responsibility that falls upon us as a leading digital communications company, we will be doing all we can in spreading the important message far and wide. With clear, fact-based messaging and the right platforms, Jazz aims to reach people who are either vaccine skeptics or those who are unaware. By raising timely awareness, the national vaccination campaign can further reduce the tide of infection,” said Jazz CEO, Aamir Ibrahim. Press release

Saturday, 12 June, 2021

KARACHI 10 FOREIGN NEWS G7 to donate 1 billion Covid-19 vaCCine doses to poorer Countries London

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Agencies

RITISH Prime Minister Boris Johnson expects the Group of Seven to agree to donate 1 billion Covid-19 vaccine doses to poorer countries during its summit starting on Friday, and help inoculate the world by the end of next year.

Just hours after US President Joe Biden vowed to supercharge the battle against the coronavirus with a donation of 500 million Pfizer shots, Johnson said Britain would

give at least 100 million surplus vaccines to the poorest nations.

Johnson has already called on G7 leaders to commit to vaccinate the entire world by the end of 2022 and the group is expected to pledge 1 billion doses during its three-day summit in the English seaside resort of Carbis Bay. Some campaign groups condemned the plan as a drop in the ocean, with Oxfam estimating that nearly 4 billion people will depend for vaccines on COVAX, the programme that distributes Covid-19 shots to low and middle income countries.

"As a result of the success of the UK's vaccine programme we are now in a position to share some of our surplus doses with those who need them," Johnson will say on Friday, according to excerpts of the announcement released by his office. "In doing so we will take a massive step towards beating this pandemic for good." Covid-19 has killed around 3.9 million people and ripped through the global economy, with infections reported in more than 210 countries and territories since the first cases were identified in China in December 2019.

GLOBAL EFFORT: While scientists have

brought vaccines to market at breakneck speeds - Britain has given a first dose to 77% of its adult population and the United States 64% - they say the pandemic will only end once all countries have been vaccinated.

With a global population nearing 8 billion and most people needing two doses, if not booster shots to tackle variants as well, campaigners said the commitments marked a start but that world leaders needed to go much further, and much faster.

"If the best G7 leaders can manage is to donate 1 billion vaccine doses then this summit will have been a failure," Oxfam's health

policy manager Anna Marriott said, adding that the world would need 11 billion doses to end the pandemic. Oxfam also called on G7 leaders to support a waiver on the intellectual property behind the vaccines.

"The lives of millions of people in developing countries should never be dependent on the goodwill of rich nations and profithungry pharmaceutical corporations," Marriott said. Of the 100 million British shots, 80 million will go to the COVAX programme led by the World Health Organization (WHO) and the rest will be shared bilaterally with countries in need.

Indian medical workers scale mountains to bring vaccines to remote corners neW deLhi Agencies

As India rushes to vaccinate its people against the coronavirus, medical workers often have to trek to perilous heights and across treacherous terrain to reach those in remote areas. In the northern region of Lidderwat, more than 100 km (60 miles) from the capital of India-administered Kashmir, medical teams have had to trek more than six hours on foot and ponies to reach nomadic and shepherd tribes in the mountains. On a recent morning, Reuters tagged along with a team of over a dozen health workers carrying medical kits and equipment including oxygen cylinders atop ponies and on foot to Lidderwat.

In a meadow surrounded by mountain peaks, the workers set up the vaccination site, donning blue protective suits as people gathered. Part of the challenge was also to convince people. “They (nomadic tribes) are not entirely educated or aware about vaccination,” the locallybased medical official Nasir Khan told Reuters. “We had to talk to them, motivate them to convince and mobilize them,” he said. “It's a faith building process...there was hesitancy in the beginning.” Despite being among the world’s major producers of coronavirus

vaccines, India faces a mammoth task in innoculating its 1.3 billion people, partly due to the logistical challenges of reaching remote areas and skepticism and lack of knowledge about the process.

Prime Minister Narendra Modi's government has said it aims to vaccinate all eligible and willing Indians by the end of this year, but so far, only 240 million of the country’s 950 million adults have had at least one shot, according to federal health data.

The country is battling a ferocious second wave of the coronavirus that has battered its health system, and scientists have warned vaccinations are critical to protect against a third wave of the virus expected later this year.

India has recorded some 29.3 million Covid-19 infections - the second highest number after the United States, as well as 363,079 deaths.

Health systems have fallen short of reaching many in the rural interiors and remote corners, some of which have no motorable roads.

"Until today, not a single doctor has come to this area, but today, a team has come to administer coronavirus vaccines to us," said Mohammed Ashraf, one of the 200 people who got their first dose of the vaccine on Thursday at Lidderwat. "We are happy and thankful."

China’s attacks on ‘foreign forces’ threaten Hong Kong’s global standing: top US envoy Washington Agencies

The top US diplomat in Hong Kong said the imposition of a new national security law had created an “atmosphere of coercion” that threatens both the city’s freedoms and its standing as an international business hub.

In unusually strident remarks to Reuters this week, US Consul-General Hanscom Smith called it "appalling" that Beijing's influence had "vilified" routine diplomatic activities such as meeting local activists, part of a government crackdown on foreign forces that was "casting a pall over the city".

Smith's remarks highlight deepening concerns over Hong Kong's sharply deteriorating freedoms among many officials in the administration of President Joe Biden one year after China's parliament imposed the law. Critics of the legislation say the law has crushed the city's democratic opposition, civil society and Western-style freedoms.

The foreign forces issue is at the heart of the crimes of "collusion" with foreign countries or "external elements" detailed in Article 29 of the security law, scholars say.

Article 29 outlaws a range of direct or indirect links with a "foreign country or an institution, organisation or individual" outside greater China, covering offences from the stealing of secrets and waging war to engaging in "hostile activities" and "provoking hatred". They can be punished by up to life in prison.

"People ... don't know where the red lines are, and it creates an atmosphere

that's not just bad for fundamental freedoms, it's bad for business," Smith said.

"You can't have it both ways," he added. "You can't purport to be this global hub and at the same time invoke this kind of propaganda language criticising foreigners."

Smith is a career US foreign service officer who has deep experience in China and the wider region, serving in Shanghai, Beijing and Taiwan before arriving in Hong Kong in July 2019. He made his comments in an interview at the US diplomatic mission in Hong Kong on Wednesday after Reuters sought the consulate's views on the impact of the national security law. In a response to Reuters, Hong Kong's Security Bureau said that "normal interactions and activities" were protected, and blamed external elements for interfering in the city during the protests that engulfed Hong Kong in 2019.

"There are indications in investigations and intelligence that foreign intervention was rampant with money, supplies and other forms of support," a representative said. He did not to identify specific individuals or groups.

Government adviser and former security chief Regina Ip told Reuters it was only "China haters" who had reason to worry about falling afoul of the law. "There must be criminal intent, not just casual chat," she said. Smith's comments come as other envoys, business people and activists have told Reuters of the chilling effect on their relationships and connections across China's most international city.

Saturday, 12 June, 2021

SPORTS 11

KARACHI

HBL PSL 2021: Quetta GLadiatorS Set 134-run tarGet for iSLamaBad united ABU DHABI

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AGENCIES

SLAMABAD United’s bowlers restricted Quetta Gladiators to 133 in the 18th match of the HBL Pakistan Super League in Abu Dhabi on Friday. United had won the toss and asked the Gladiators to bat first.

South Africa's Faf du Plessis and young gun Usman Khan opened the batting for the Gladiators. While Hasan Ali opened the bowling for Islamabad United.

Usman looked in fine form as he smashed Hasan Ali for 15 runs in the first over of the game.

While his South African partner looked uncomfortable from the beginning and he was soon put out of his misery by 19-year-old Mohammad Wasim in the third over of the match.

The loss of the wicket brought in Australian Jake Weatherald and the new batsman presence helped Islamabad contain Quetta in the powerplay as the Gladiators ended the first six overs at 36-1.

As soon as the powerplay ended, Shadab Khan brought himself into the attack and the decision proved fruitful as he dismissed Usman Khan, who was in fine touch, for 14.

The fall of the wicket had led Sarfaraz Ahmed to promote himself up in the order but his stay at the crease was short-lived. Musa was asked to bowl after Shadab and he dismissed the Quetta captain to put the Gladiators at 49-3.

Weatherald, who had made 43, was helping Gladiators rebuild their innings before he was removed by Akif Javed.

The Australian was trying to be cheeky against the bowler but the move proved too costly for him.

Weatherald was the fourth wicket of Quetta to fall at 88 in the 13th over.

The next man in was Andre Russel, who was signed in by the Gladiators for the Abu Dhabi leg of the tournament.

As soon as the West Indian came in he smashed two consecutive sixes of Musa's bowling. However, it was the United bowler who had the last laugh as he dismissed the Russell in the same over.

Despite the constant wicket taking the Gladiators had reached 110-5 at the end of the 15th over and had the perfect platform to launch themselves.

However, in the next over Mohammad Nawaz lost his wicket to Mohammad Wasim. And Hasan Ali dismissed Azam Khan to bring in two new batsmen to the crease.

Jack Wildermuth and Khurram Shehzad who had come new to the crease failed to capitalise.

The two attempted to push themselves in the last over the innings but that led to the dismissal of Shehzad. And two balls later Wildermuth join Shahzad in the dugout as he attempted another unnecessary run.

And at the last ball of the innings, Hasan Ali dismissed Zahid Mahmood to ensure Quetta Gladiators were all out for 133.

Lahore Qalandars down Peshawar Zalmi by 10 runs ABU DHABI AGENCIES

After the drama of Wednesday night, the Lahore Qalandars ensured their victory on late Thursday night would be slightly more straightforward, seeing off Peshawar Zalmi by ten runs. A magical five-wicket haul for Rashid Khan - his first in franchise T20 cricket - ripped the heart out of Zalmi's middle order, ensuring a valiant 48-ball 73 from Shoaib Malik wouldn't really come close to taking them over the line.

That didn't mean the Qalandars didn't take the scenic route, though. The men in green looked as if they had batted themselves out of the game when they were reduced to 25 for 4 inside eight overs. Thereafter, however, it was all Qalandars, thanks initially to a match-rescuing 81-run partnership between Ben Dunk and Tim David to set their side back on course. David then combined with James Faulkner to take it up a notch in the final six overs, which saw 90 runs scored.

The Singapore batter led the way with a 36ball 64, setting Zalmi a stiff 171 for victory.

Zalmi would end up mirroring the Qalandars' woeful start, losing openers Kamran Akmal and Haider Ali to Faulkner's first over, whose irrepressible start to the HBL PSL may

even see the Australian selectors begin to pay attention in a World Cup year. A 51-run stand between Malik and David Miller kept Zalmi interested, but that was before the Rashid Khan show. The legspinner would rip apart the middle order, as he was near impossible to either read or play for Zalmi. By the time he was done with his spell, Zalmi were all but out of the contest. Umaid Asif kept the Qalandars' nerves jangling with a breezy cameo at the death, but Zalmi had been left too much to do.

ZALMI'S STIFLING START: The DunkDavid partnership had the quality to win most T20 games, but it's easy to forget how hopeless the position they were forced to consolidate from was. That was the case thanks to a superb opening spell from both Wahab Riaz and Mohammad Irfan, who beat the batter's tentative outside edges so often, it might have been a Test match with a new Dukes ball in overcast English conditions. Riaz mixed up the length deliveries with a pinpoint yorker to dispatch Fakhar Zaman in the first over, while Irfan followed it up by drawing an outside edge from the Qalandars captain Sohail Akhtar.

The blows from Zalmi kept coming, Asif proving Mohammad Hafeez's undoing with a devilishly quick bouncer the batter toeended to extra cover. Mohammad Faizan, who endured a wretched little innings where

Young stars for NZ before falling late on second day against England BIRMINGHAM AGENCIES

Will Young fell in sight of a maiden Test hundred during the last over of Friday's play after helping New Zealand establish a solid position against England in the second and final Test at Edgbaston.

There were just three balls left in the second day when Young was out for 82 after turning part-time off-spinner Dan Lawrence to Ollie Pope at short leg.

Lawrence's first Test wicket brought about stumps, with New Zealand well-placed at 229-3 in reply to England's first innings 303, a deficit of 74 runs.

Young shared stands of 122 with opener Devon Conway (80) and 92 with Ross Taylor (46 not out).

Conway's innings saw him back up his stunning 200 on debut in last week's drawn first Test at Lord's with another impressive knock.

In match where James Anderson set a new England appearance record of 162 Tests, it was longstanding new-ball colleague Stuart Broad who led the hosts' attack with a miserly 2-22 in 15 overs.

That meant Broad had surpassed former West Indies fast bowler Courtney Walsh's tally of 519 Test wickets as he moved into sixth place in the all-time list.

Broad struck early in New Zealand's reply when Tom Latham, captaining the side in place of injured star batsman Kane Williamson, was lbw for six.

Nottinghamshire paceman Broad thought he had dismissed Conway for 22 when he edged low towards Zak Crawley in the slips.

But with on-field umpire Richard Kettleborough having made a soft signal of 'not out' as he requested a review, replay official Michael Gough felt there was insufficient evidence for him to overturn that call.

Young, replacing Williamson at number three in one of an exceptional six changes to the New Zealand team, should have been out for seven when he edged fast bowler Olly Stone but England captain Joe Root dropped a routine catch at first slip.

Left-hander Conway was largely untroubled until, on 80, a rare lapse in concentration saw him flamboyantly flick Broad straight to Crawley at deep square leg to end a 143-ball innings including 12

fours.

New Zealand had moved on to 154-2 when Anderson had Taylor lbw for 11 only for a review to reveal the ball was missing leg stump.

Young, who had already scored two firstclass hundreds for English county Durham this season, then completed a maiden Test fifty off 132 balls including seven fours in just his third match at this level.

Earlier, England, who had been 175-6, resumed on their overnight 258-7.

Lawrence was 67 not out and Mark Wood 16 not out after opener Rory Burns had made 81 on Thursday following his hundred at Lord's.

But while Mark Wood made an entertaining 41, no one in the England tail could stay at the crease long enough to help Lawrence, who finished on 81 not out, to a maiden Test century.

Trent Boult led New Zealand's attack, the recalled left-arm swing bowler taking 4-85 in 29 overs.

It was an encouraging haul for Boult ahead of New Zealand's appearance in next week's inaugural World Test Championship final against India at Southampton.

he appeared to lack both ability and intent, fell thanks to a stupendously good diving catch from Riaz at mid-off. It was his 21st delivery, with the No. 3 managing just eight runs. It brought David and Dunk together, and with them came the Qalandars' rescue.

RASHID KHAN MASTERCLASS: It might be easier to copy and paste the rich tributes the Afghan superstar earned after his exploits against Islamabad United, but this was an even more imperious performance. He begun sloppily with a few wayward balls down the leg side, and his first over ended up going for 15 runs - six more than he had allowed in his entire spell on Wednesday.

But from thereon, a mesmeric two overs changed the face of the game entirely. Up to this point, Malik and Miller had quietly built up a partnership of mounting importance for Zalmi after the quickfire loss of the openers, and while the asking rate approached 11, players like Sherfane Rutherford and Fabian Allen were to follow.

But when Khan had Miller chopping onto his stumps in the tenth over, Zalmi found their defences breached in a far more comprehensive way. Rovman Powell attempted, and missed, a sweep shot two balls later; but the third Khan over was the icing on the cake.

ngidi takes five as Sa bundle out Wi for 98 on day one GROS ISLET AGENCIES

Lungi Ngidi mowed through the lower half of the West Indies batting order on the way to a five-wicket haul as South Africa routed the home side for 97 on the opening day of the first Test of the two-match series at the Daren Sammy Cricket Ground in St Lucia on Thursday. Playing their first series in the Caribbean for 11 years, the Proteas reached the close of play at 128 for four, a lead of 31 runs. Opener Aiden Markram has topscored so far with 60 but he was one of three wickets to fall to debutant West Indies pacer Jayden Seales, who also accounted for South Africa’s two newcomers Keegan Petersen and Kyle Verreynne. Ngidi’s haul of five for 19 was his second five-wicket innings haul in Test cricket, the bulk of his success coming in the afternoon session after seamer Anrich Nortje pushed the West Indies on the back foot with three of the four wickets to fall in the pre-lunch period. He added another amid the final capitulation to finish with four for 35.

That collapse featured a chaotic period either side of the lunch interval when the West Indies lost five wickets for 11 runs, including three with the score on 56, to be dismissed for their lowest-ever Test innings total against South Africa. Jason Holder was last out for a topscore of 20, giving Ngidi the treasured fifth wicket.

Tsitsipas overcomes Zverev to reach first Grand Slam final PARIS AGENCIES

Stefanos Tsitsipas became the first Greek player to reach a Grand Slam final on Friday when he defeated Germany’s Alexander Zverev in a bruising five-setter at the French Open.

Fifth-seeded Tsitsipas won 6-3, 6-3, 4-6, 4-6, 6-3. “All I can think of is my roots, a small place outside Athens where I dreamed to play on the big stage at the French Open,” said a tearful Tsitsipas on making his first final at the majors, secured on a fifth match point.

“It was nerve-wracking, so intense, I stayed alive. I went out there and fought. This win means a lot, it’s the most important one of my career so far.”

Tsitsipas took a 5-2 career lead over Zverev into the semi-final and

he was the first to pounce with the only break of the opening set in the second game.

The rock-solid Greek didn’t give up a single break point although in an indication of the fine margins, Tsitsipas only hit one winner.

Zverev, bidding to become the first German man since Michael Stich in 1996 to reach the final in Paris, raced into a 3-0 lead in the second set.

However, Tsitsipas’ greater composure saw him rack up six consecutive games to move two sets ahead.

The Greek had come into the semi-final certainly sharper having seen off three seeded players to get this far.

Zverev had needed five sets to beat his 152nd-ranked compatriot Oscar Otte in the first round and hadn’t faced a player inside the top 45 before Friday.

But Zverev carved a break in the third game of the third set and this time backed it up despite a lengthy, foul-mouthed rant at the umpire over a disputed line call.

The 24-year-old German, now fired up, broke in the opening game of the fourth set and levelled the semi-final in the 10th game on the back of a brutal 27-shot rally.

Tsitsipas, playing in his third consecutive semi-final at the majors, crucially saved three break points in the first game of the decider.

He made the most of the escape, breaking the German for 3-1 and quickly securing the advantage for 41. In a 10-minute eighth game, Zverev saved four match points, the second of which with a drop shot, the third with an ace. However, Tsitsipas held his nerve and claimed victory after over three and a half hours on court with his eighth ace of the match.

CMYK

Saturday, 12 June, 2021

PrAyEr TIMINGS

NEWS

RS900bn fedeRaL PSdP to foCuS on ImPRovInG tRanSPoRt InfRaStRuCtuRe, buILdInG LaRGe damS ISLAMABAD

t

GHULAM ABBAS

HE government on Friday unveiled the budget for fiscal year 2020-2021 and has allocated Rs900 billion for federal Public Sector Development Programme (PSDP 2021-22), 38 per cent higher than the Rs650 billion allocated in the outgoing fiscal year.

The total outlay of the PSDP for the next fiscal year is Rs2.1 trillion out of which Rs1.235 trillion has been earmarked for provincial PSDP, whereas the remaining Rs900 billion has been reserved for the federal PSDP. According to the budget documents, the Rs900 billion includes Rs100 billion of foreign aid.

The document states that the PSDP allocation focuses on improving transport and communication facilities with special emphasis on inter-provincial and regional connectivity, investment on building large dams and water conservation systems, augmenting and strengthening health sector infrastructure. It also focuses on improving access to higher education, social protection, increasing employment and livelihood opportunities.

According to the annual plan, an amount of Rs469 billion rupees, which is 52 per cent of total PSDP, has been allocated for projects aiming at modernising infrastructure for accelerating growth. An amount of Rs228.7 billion has been earmarked for energy sector projects for the next fiscal year.

By June next year, an additional 5,981 megawatts of electricity is expected to be plugged into the system, including 1,536 megawatts from renewable sources. To boost industrial development, electricity and gas supply schemes for Special Economic Zones under CPEC are expected to

FINANCE AND INTERIORS DIVISIONS TO GET RS123BN AND 210BN, RESPECTIVELY be completed by June next year.

“There is a plan to add another ten million acre feet in the water storage capacity during the next year. To overcome water scarcity and enhance storage capacity, two major storage dams Diamer-Basha and Mohmand along with five hundred and eighteen medium and small dams having cumulative storage capacity of 8.33 million acre feet have been initiated throughout the country,” the document states.

“An amount of Rs90.313 billion rupees has been allocated for water sector projects, excluding hydel projects during the next fiscal year,” it adds.

In order to attain one per cent additional afforestation during the next fiscal year, the government has allocated Rs14 billion funds to ensure efficient implementation of Ten Billion Tree Tsunami Program-Phase 1.

An amount of Rs302 billion, which is seventy four percent higher than the PSDP 2020-21, has been earmarked for the development programme of transport and logistics. The concessional financing agreement for landmark ML-1 project of Pakistan Railways is expected to be finalised in the first quarter of next financial year and subsequently, arrangements will be made for its groundbreaking.

The Ministry of National Health Services has proposed 42 new schemes for financing out of the next year's PSDP. Some important initiatives include improving emergency and response services for COVID-19 and other transmittable diseases.

An amount of Rs5.52 billion has been earmarked for projects in the education sector including Rs1 billion earmarked for

Azad Kashmir. An amount of Rs37.3 billion has been allocated for development projects in the higher education sector and Rs8.34 billion for the development projects of the Ministry of Science and Technology.

For Physical Planning and Housing Sector programmes, Rs49 billion have been allocated. In order to promote balanced regional development, an amount of Rs160 billion, which is 18 per cent of the PSDP, has been kept aside for projects aiming at fostering harmony in the federation.

ALLOCATIONS FOR GOVERNMENT DIVISIONS: Out of the Rs900 billion, Rs3.55 billion have been allocated for the Aviation Division while the Board of Investment (BoI) will get Rs80 million in the next fiscal year. Another Rs46 billion has been earmarked for Cabinet Division, whereas the Climate Change Division will get Rs14.32 billion.

The budget documents state that Rs1.61 billion had been set aside for the Commerce Division while Rs451.32 million were allocated for the Communication Division, other than the National Highway Authority (NHA).

According to the budget documents, Rs1.97 billion has been earmarked for Defence Division, Rs 1.74 billion for Defence Production Division and Rs800 million has been allocated for the Establishment Division. On the other hand, the federal Education and Professional Training Division will get Rs9.7 billion and Rs123 billion has been allocated for the Finance Division.

The Higher Education Commission (HEC) has been allocated Rs42.4 billion, while Rs24.21 billion has been earmarked for the Housing and Works Division. At

least Rs279 million will be provided to the Human Rights Division and Rs2.91 billion has been set aside for the Industries and Production Division.

In the federal PSDP, Rs1.89 billion have been allocated for the Information and Broadcasting Division and Rs9.361 billion will be provided to the Information Technology and Telecom Division.

For the Inter-Provincial Coordination Division, Rs3.73 billion have been set aside whereas the Interior Division would get the allocation of Rs210.48 billion.

Meanwhile, Rs69.9 billion have been earmarked for Kashmir Affairs and Gilgit Baltistan Division.

At least Rs6 billion has been earmarked for the Law and Justice Division and Rs4.4 billion has been allocated for the Maritime Affairs Division.

The National Health Services, Regulation and Coordination Division has received Rs21.72 billion whereas Rs27 billion has been earmarked for the Pakistan Atomic Energy Commission.

Likewise, the Petroleum Division received Rs2.34 billion.

In the new budget, Rs19.24 billion have been allocated for the Planning, Development and Special Initiatives Division and Rs589.9 million has been allocated for the Poverty Alleviation and Social Safety Division. Similarly, Rs 30 billion million has been set aside for the Railways Division.

Over Rs493 million has been allocated for the Religious Affairs and Interfaith Harmony Division whereas Rs4 billion has been earmarked for the Revenue Division and Rs8.34 billion has been earmarked for the Science and Technology Research Division.

Rs7.36 billion has been allocated for SUPARCO and Rs103.47 billion has been allocated for the Water Resources Division.

Separately, Rs113.75 million has been set aside for the National Highway Authority.

Turkey should pull troops from Afghanistan under 2020 accord: Taliban spokesperson REJECTS ANKARA'S PROPOSAL TO GUARD AND RUN KABUL'S AIRPORT AFTER US-LED NATO FORCES DEPART KABUL AGENCIES

Turkey should withdraw its troops from Afghanistan under the 2020 deal for the pullout of US forces, a Taliban spokesperson said on Thursday, effectively rejecting Ankara's proposal to guard and run Kabul's airport after US-led NATO forces depart.

The development raises serious questions for the United States, other countries and international organisations with missions in Kabul about how to securely evacuate their personnel from landlocked Afghanistan should fighting threaten the capital.

It also appeared to dash Ankara's hopes of using the securing of Kabul airport to help improve ties with Washington - strained by Turkey's purchase of Russian defense systems - in talks set for Monday between President Joe Biden and Turkish President Tayyip Erdogan.

Asked in a text message whether the Taliban rejected Turkey's proposal to keep forces in Kabul to guard and run the international airport after other foreign troops leave, the Taliban spokesperosn in Doha responded that they should go as well.

"Turkey was part of NATO forces in the past 20 years, so as such, they should withdraw from Afghanistan on the basis of the Agreement we signed with US on 29th Feb 2020," Suhail Shaheen told Reuters.

"Otherwise, Turkey is a great Islamic country.

Afghanistan has had historical relations with it. We hope to have close and good relations with them as a new Islamic government is established in the country in future," he added.

The State Department and the Turkish Foreign Ministry did not immediately respond to requests for comment.

US Defense Secretary Lloyd Austin spoke on Thursday with Turkish Defense Minister Hulusi Akar to "discuss bilateral cooperation and regional issues," the Pentagon said in a statement, which did not specifically mention Afghanistan.

Under the February 2020 deal secured with the Taliban under former President Donald Trump, all US forces were to be out of Afghanistan by May 1.

But Biden said in April that the pullout would be completed by the 20th anniversary of the Sept. 11, 2001, al Qaeda attacks on the United States that prompted the USled invasion and ouster of the Taliban government that sheltered the group.

Turkish officials say they made the Kabul airport proposal at a NATO meeting in May when the United States and its partners agreed to a plan to withdraw their forces

by Sept. 11 after 20 years of backing the Afghan government in a war against the Taliban.

With violence raging, many US lawmakers and current and former officials fear the departure of the foreign forces and stalled peace talks are pushing Afghanistan into an all-out civil war that could return the Taliban to power.

The Pentagon says the US withdrawal is more than 50% complete. Turkey, with more than 500 soldiers still in Afghanistan training security forces, now has the largest foreign military contingent there.

Australia closed its embassy last month because of security concerns. The Taliban's effective rejection of the Turkish plan to secure the airport could prompt other countries to shutter their missions.

The development also poses a quandary for the Biden administration, with Secretary of State Antony Blinken vowing as recently as this week at a congressional hearing to maintain a US diplomatic presence in Kabul.

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Government to borrow Rs2.747 trillion in 2021-22 ISLAMABAD GHULAM ABBAS

The federal government has planned to borrow Rs2.747 trillion (over $16 billion) gross foreign loans in the next fiscal year to finance the budget deficit and for repayment of external public debt. This would be an increase of 18 per cent from the last year when the government borrowed Rs2.286 trillion.

According to the budget documents, the government would also be receiving Rs496 billion ($3.165 billion) from the International Monetary Fund (IMF) during the next financial year. However the figures may change in light of ongoing discussions with the international lending agency. According to the budget document, the government has also estimated to receive Rs560 billion ($3.5 billion) by floating Euro Bond/International Sukuk in the next fiscal year, as compared to Rs402.5 billion ($2.5 billion) of the outgoing fiscal year. The government also estimates to get Rs779.2 billion ($4.97 billion) from commercial banks in FY 2021-22 as compared to Rs762.3 billion ($4.8 billion) in FY 202021. Besides, the Ministry of Finance (MoF) also estimates receiving a loan worth Rs160 billion ($1.0 billion) from Islamic Development Bank (IDB), as compared to Rs128.8 billion it received from the bank in this fiscal year. The total external receipts also include the project loans and grants outside PSDP which are estimated to be Rs22.817 billion in the next fiscal year as compared to Rs57.859 billion of the outgoing year. As per the documents, Pakistan has not estimated any new short-term loan from Saudi Arabia. It has also not shown any receipt on account of Chinese safe deposits.

Communism, Leninism to attend younger brother Socialism's wedding in India Even little Marxism won't miss out when Socialism gets married in southern India this weekend with his big brothers Communism and Leninism in attendance. All are the progeny of A. Mohan, a district secretary of the Communist Party of India in Tamil Nadu state where left-wing ideology still burns redhot. “My first son was born during the fall of the Soviet Union and everywhere in the news I was reading that this was the end of communism,” Mohan told AFP. “But there is no end for communism as long as the human race lives on, so I named my first-born Communism,” he said. His next two sons were named Leninism — whose five-month-old son Marxism will also attend the nuptials on Sunday — and Socialism, the groom. Pictures of the invitation to the wedding, embossed with hammer-and-sickle emblems, have gone viral on social media. Socialism's bride-to-be meanwhile is P. Mamata Banerjee, named by her grandfather after a firebrand left-wing politician in West Bengal. The fact that this other Banerjee ended several decades of communist rule in 2011 in the eastern state to become chief minister isn't spoiling the party.

India leaned more towards the Soviet Union during the Cold War, and names like Stalin, Lenin, Trotsky and even Pravda — the name of the USSR's state newspaper — are not unheard of, particularly in the south. Tamil Nadu's current chief minister is M.K. Stalin, named by his father in honour of the Soviet communist dictator just days before he died in Russia. Mohan said that there was nothing unusual about his sons' names — some of his “comrades” gave their children names such as Moscow, Russia, Vietnam and Czechoslovakia. AGENCIES

Photos show Chinese rover on dusty, rocky Martian surface The dusty, rocky Martian surface and a Chinese rover and lander bearing small national flags were seen in photos released on Friday that the rover took on the red planet.

The four pictures released by the China National Space Administration (CNSA) also show the upper stage of the Zhurong rover and the view from the rover before it rolled off its platform.

Zhurong placed a remote camera about

10 metres from the landing platform, then withdrew to take a group portrait, the CNSA said.

China landed the Tianwen-1 spacecraft carrying the rover on Mars last month after it spent about three months orbiting the red planet. China is the second country to land and operate a spacecraft on Mars, after the United States.

The orbiter and lander both display small

Chinese flags and the lander has outlines of the mascots for the 2022 Beijing Winter Olympics and Paralympics.

The six-wheeled rover is surveying an area known as Utopia Planitia, especially searching for signs of water or ice that could lend clues as to whether Mars ever sustained life.

At 1.85m in height, Zhurong is significantly smaller than the US’s Perseverance rover which is exploring the planet with a

tiny helicopter. Nasa expects its rover to collect its first sample in July for a return to Earth as early as 2031.

In addition to the Mars mission, China’s ambitious space programme plans to send the first crew to its new space station next week. The three crew members plan to stay for three months on the Tianhe, or Heavenly Harmony, station, far exceeding the length of any previous Chinese mis-

sion. They will perform spacewalks, construction and maintenance work and carry out science experiments.

Subsequent launches are planned to expand the station, send up supplies and exchange crews. China has also has brought back lunar samples, the first by any country’s space programme since the 1970s, landed a probe and rover on the moon’s less explored far side. AGENCIES

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