Lahore- E paper – March 10, 2020 by Pakistan Today

CMYK

Tuesday, 10 March, 2020 I 14 Rajab, 1441 I Rs 20.00 I Vol X No 251 I 16 Pages I Lahore Edition

Oil crash sparks biggest ‘black MOnday’ MeltdOWn in histOry g

gloBAl oIl MArkET noSEdIVEd 30 PEr CEnT AT onE STAgE AfTEr ToP ExPorTEr SAudI ArABIA SlASHEd PrICES

SPrEAd of CoVId-19 IS PuTTIng HugE STrAIn on EConoMIES And STokIng ConCErnS of worldwIdE rECESSIon

No more hike in power, gas tariﬀs, PM Imran promises g

BEIJING

AGENCIES

orld oil prices crashed Monday, fuelling a vicious selloff on stock markets — which were already buckling under intense pressure over the spreading deadly coronavirus. Stocks tanked as the global oil market nosedived 30 percent at one stage after top exporter Saudi Arabia slashed the prices it charges customers following a bust-up with russia over crude production. The dollar slid versus the yen, a haven investment. “The markets have passed from panic mode into pure hysteria,” said Ayush Ansal, chief investment officer at trading firm Crimson Black Capital. “Markets were at breaking point before Saudi Arabia’s decision to launch an oil price war, but this latest development has taken them beyond that.” oPEC kingpin Saudi Arabia had last week

wanted russia to join the cartel in deep production cuts after world prices had already tanked on forecasts of plunging demand because of CoVId-19. However, Moscow declined, triggering riyadh’s move to preserve market share and sideline its closes competitor — but creating fresh markets chaos. “The war against the coronavirus is turning into a war for oil export markets,” said analyst Tamas Varga at oil broker PVM Associates.

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Russia vs Saudi: How much pain can they take in oil price war? STORY ON PAGE 12

PrEMIEr SAyS InflATIon IS now undEr ConTrol, PrICES of CoMModITIES wIll dECrEASE Soon IMrAn ExPrESSES HIS ‘HEArTfElT wISH’ To SEE lASTIng PEACE In nEIgHBourIng AfgHAnISTAn MOHMAND STAFF REPORT

Prime Minister Imran khan on Monday said that the government will not increase gas and electricity tariffs anymore as inflation has finally come under control and soon the prices of commodities will decrease. Addressing a huge public gathering after distributing kafalat Cards among the deserving people under the Ehsaas Programme, he said, “I have decided not to increase the power tariff anymore because the people cannot afford that. In this regard, I have decided to take all possible measures to decrease power tariff.”

KSE-100 nosedives after oil prices plunge g

KARACHI The Pakistan Stock Exchange (PSx) witnessed the worst possible start to the trading week, with the kSE-100 Index recording its biggest intraday slump (5.8pc) in its history, forcing a 45-minute ‘market halt’. According to PSx, the ‘market halt’ procedure had been introduced by the Securities and Exchange Commission of Pakistan (SECP) in the PSx regulations in december 2019. The action triggers when the kSE-30 Index moves 4pc either way and remains there for five consecutive minutes. on Monday, investors dumped shares and ran out of the market as they took cues from plunging global stock markets and the worst slump in international oil prices since the 1991 gulf war. oil prices fell more than 30pc after oPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price

war. uS west Texas Intermediate crude dropped 33.16pc to $27.59 per barrel as of 04:23 gMT. International benchmark Brent crude futures also plummeted 30.33pc to $31.54 per barrel. Plunging 2,302.33 points or 6.02pc, the benchmark kSE-100 Index recorded its intraday low at 35,917.34. However, it managed to recover half the losses, ending the session lower by 1,160.72 points at 37,058.95. Among other indices, the kMI-30 Index dropped 1,887.75 points to settle at 58,292.54, while the kSE All Share Index declined by 682.79 points, closing at 25,875.06. out of the total traded shares, 113 advanced and 200 declined. The overall market volumes were recorded at 307.96 million, with fauji Cement Company limited (fCCl +6.92pc), The Bank of Punjab (BoP 6.86pc) and Maple leaf Cement factory limited (MlCf +7.00pc) leading the volume chart. The scripts had exchanged 30.66 million, 22.97 million and 22.52 million shares, respectively. Sectors that drove the kSE-100 Index

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more inside

Pakistan confirms nine more coronavirus cases

IndEx rECordEd ITS BIggEST InTrAdAy SluMP of -5.8PC, forCIng A 45-MInuTE ‘MArkET HAlT’ EArlIEr In THE dAy STAFF REPORT

The prime minister said that the prices had surged in the past due to the contracts signed by the previous government, who had agreed at the purchase of power and gas at exorbitant prices. “The incumbent government was helpless due to such unjustified contracts and the subsidies, provided by the government swelled the circular debt,” he added. He said that the government would talk to the power producers and urge them to bring down the power prices and close down the plants which were producing costly electricity as additional burden could not be shifted to the people and industries. Similarly, he said, due to

the 15-year gas contract signed by the previous government, Pakistan was getting gas supply at higher rates in the world. The premier told the gathering that the government had started rectifying the system to provide job opportunities to the people and bring down the inflation. “do not worry as difficult times have come to an end. 2019 was even more difficult for the people but inflation has been controlled and the prices of the commodities will come down,” he remarked. Earlier, the prime minister commenced his address by condemning the ongoing atrocities against the Muslims in Iok and new delhi. He assured the eight million kashmir Muslims living under lockdown by the Indian occupation forces that the entire Pakistani nation stood by them and prayed for their steadfastness. He said that he had been warning the world that if unchecked, the narendra Modi’s Hindu supremacist agenda would lead to bloodshed and that has already happened in new delhi.

STORY ON BACK PAGE

Colonel martyred, 2 terrorists killed in dI khan operation STORY ON BACK 03

Presidential decree on Taliban prisoners today, Ghani says STORY ON BACK PAGE south included banking (-559.86 points), oil & gas exploration (-352.87 points) and fertilizer (-154.77 points). despite bloodshed at PSx, the cement sector (+205.96 points) managed to gain 6.77pc in its total market capitalization. lucky Cement limited (luCk +7.00pc), Bestway Cement limited (BwCl +6.99pc), d g khan Cement Company limited (dgkC +6.99pc) and kohat Cement Company limited (fCCl +7.00pc) accumulated decent gains.

CMYK

uS coronavirus cases pass 500 as China signals progress in battle STORY ON BACK PAGE

Pakistan 11th largest arms importer in the world: report STORY ON BACK PAGE

Tuesday, 10 March, 2020

NEWS

28, iNcLUDiNG 22 cHiLDReN, kiLLeD AS HeAvy RAiNFALL LASHeS kP 40 CHILDREN, 12 WOMEN AND 13 MEN INJURED AS RAINFALL WREAKS HAVOC ON PROVINCE PESHAWAR

STAFF REPORT

HE Provincial Disaster Management Authority (PDMA) on Monday said that at least 28 people, including 22 children, were killed and 65 were injured as heavy rainfall lashed Khyber Pakhtunkhwa (KP). The PDMA spokesperson said that 65 injured include 40 children, 12 women and 13 men. 255 houses were partially damaged while 27 were reported to be completely damaged and 67 livestock, including goats, sheep and

others, were also killed when the roofs of houses collapsed, the spokesperson added. Relief goods have been distributed among affected people on the directives of KP Chief Minister Mehmood Khan in Batagram, Shangla, Charsadda, Swabi and Mardan districts. On Saturday, the heavy rainfall had claimed the lives of 17 people and injured scores. The spell of rains and snowfall had subsided in the northern parts of Balochistan, while it had continued to pour in parts of Punjab, KP and Azad Jammu and Kashmir (AJK).

The PDMA had said that it had directed relevant district administrations to assist in the rescue operations. The author-

ity had also said that it sent aid for those affected due to rains in Charsadda and other districts of KP.

Qatar bans passengers from Pakistan, 13 other countries amid coronavirus fears Report on wheat, sugar shortage to address all concerns of opposition, NA told ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Monday informed the National Assembly (NA) that the report on the shortage of wheat and sugar in Pakistan would address all concerns of the opposition. Responding to a point of order raised by Khawaja Muhammad Asif of the Pakistan Muslim League-Nawaz (PML-N), he said that the committee which was formed to investigate the shortage had submitted its initial report to Prime Minister (PM) Imran Khan, who had asked its members more questions about the issue. “Hopefully, the committee’s report will be received during the current week. If the opposition’s concerns are not addressed in the report then their demand for a parliamentary committee can be considered,” he added. Khawaja Asif demanded the formation of a parliamentary committee to pinpoint the elements involved in the shortage of basic commodities and asked the government to share the report with the parliament. Minister for Science and Technology Fawad Chaudhry asked the opposition to give a deadline for Opposition Leader Shehbaz Sharif’s return to Pakistan. Responding to another point, he said the representatives of Office Management Group (OMG) were taken on board by the reform committee headed by Dr Ishrat Husain. APP

Bill moved in NA to set up university at PM House ISLAMABAD: The National Assembly (NA) on Monday witnessed the introduction of five government bills in the House including a legislative proposal to set up a university at Prime Minister House. All these bills were referred to the relevant committees for further consideration. Minister of State for Parliamentary Affairs Ali Muhammad Khan introduced the Members of Parliament (Salaries and Allowances) (Amendment) Bill, 2020 and the Pakistan Health Research Council (Amendment) Bill, 2020 which were referred to the relevant committees. Minister for Science and Technology Fawad Chaudhry introduced the University of Engineering and Emerging Technology Bill, 2020, in the House which was also referred to as the relevant committee. The minister said that this bill will pave the way to establish a state-ofthe-art University of Engineering and Emerging Technologies at the Prime Minister House. Minister for Interior Ijaz Ahmad Shah introduced the Islamabad Capital Territory Charities Registration, Regulation and Facilitation Bill, 2020, and the Pakistan Army (Amendment) Bill, 2020, which were also forwarded to the relevant committees for elaboration. APP

ISLAMABAD APP

Qatar announced Monday that it was temporarily banning the entry of passengers from 14 countries, including Pakistan, due to concerns over coronavirus epidemic, an official notification said. The ban covers Pakistan, Bangladesh, China, Egypt, India, Iran, Iraq, Lebanon, Nepal, the Philippines, South

Korea, Sri Lanka, Syria and Thailand. According to a statement from Pakistani embassy in Doha, the ban applies to visit visas, family visas, and iqama holders uniformly. The statement added the embassy was in contact with Qatar’s foreign office and will apprise Pakistani nationals about any development. The embassy also advised passengers to avoid travel from Pakistan to Qatar, adding that a new announcement from the Qatari government should be awaited. It also said that the situation regarding the Qatar Airways and PIA flights will be clarified. So far, Pakistan has reported seven confirmed cases of the coronavirus, with one youth having recovered from the disease. The pandemic has spread to more than 90 countries around the world, an estimated 3,600 people and affected more than 100,000 ever since it began spreading from the wet markets in Wuhan, China, to other parts of the world. Pakistan suspended its flight operations to Iran and China after the outbreak of the disease in the two countries. On Sunday, an emergency was imposed in New York after the number of coronavirus cases in United States rose to 22.

Chaman border to remain closed for another week amid virus threat

WASHINGTON: US Secretary of Defence Mark Esper is expected to visit Pakistan later this month, according to media reports. The dates for Esper’s visit to Pakistan will either be March 18 or 19, according to various reports. During the visit, Esper is expected to call upon Prime Minister Imran Khan. The talks would focus on bilateral security cooperation as the US gears up to exit from Afghanistan after two decades of war. The reports also said that Esper’s visit would be a follow up to the talks and bilateral meetings held between Prime Minister Imran and US President Donald Trump on the sidelines of the World Economic Forum (WEF) held in Davos earlier in January. Esper’s visit comes in the backdrop of the Taliban deal where Pakistan played a key facilitator and enabler of the peace pact to end the most expensive war in US history. The matter of the Coalition Support Fund is likely to be taken up during the bilateral talks. INP

Former PSO MD declared PO in LNG case RAWALPINDI: Former Pakistan State Oil (PSO) managing director Shahid Islam has been declared proclaimed offender in the Liquefied Natural Gas (LNG) reference. Accountability judge Azam Khan heard the reference pertaining to the awarding of a multi-billion rupee liquefied natural gas (LNG) import contract. Former prime minister Shahid Khaqan Abbassi is also nominated in the reference. In June 2014, the Oil and Gas Regulatory Authority (OGRA), a government agency which comes under the jurisdiction of Petroleum Division of which Abbasi was minister back then, had issued a license to Elengy Terminal Pakistan Limited (ETPL) – a subsidiary of Engro Corp – to construct a terminal at Port Qasim for landing and regasification of LNG. During the hearing on Monday, Abbasi’s counsel told the court that the National Accountability Bureau (NAB) did not file supplementary reference to which the NAB prosecutor informed that the reference is under the final phase of its completion and it will be filled till the next hearing. During the course of the hearing, the NAB informed the court that former PSO MD was not available on its any given address, on which, the court declared him proclaimed offender. The case adjourned until April 1. STAFF REPORT

Navy launches drive to plant 4m trees

CHAMAN STAFF REPORT

Chaman border between Pakistan and Afghanistan will be kept closed for another week in the wake of the coronavirus epidemic. The entry of Afghan migrants will also remain suspended temporarily. On the other hand, the health department said that screening of 15,000 individuals has been completed at the Pak-Afghan border. Pakistan had closed the Chaman border, which is a famous land crossing both for cargo and passenger transport, and the land route for one-week on Mar 1 to prevent Coronavirus spread. According to a notification issued by the Interior Ministry, the border will remain shut for at least one week with effect from Mar 2. In addition to the border closure, strict precautionary measures have also been put in place in border areas to stop the spread, including the establishment of an isolation ward at DHQ Hospital, Parachinar. Pakistan reported its seventh case of coronavirus on Sunday when a 50-year-old male in Karachi was diagnosed with the virus. The patient and his family members have been quarantined.

US defence chief likely to visit Pakistan later this month

State Minister for Health Dr. Zafar Mirza said the government is taking every possible step to protect people from the virus and stressed that there is no need to panic.

ISLAMABAD: Navy Chief Admiral Zafar Mahmood Abbasi on Monday kicked off a plantation drive of 4 million trees across the country by planting a sapling at the Naval Headquarters. A Navy spokesperson said that a concerted effort from the people and institutes was needed to battle the persistent and serious threats of climate change. The naval chief expressed firm resolve to ensure that the institute played its due role in tackling the threat of climate change, global warming and greenhouse gases. Special prayers were made by senior navy officials present alongside the naval chief for the success of the plantation drive. Prime Minister Imran Khan had earlier said that the incumbent government was planning to introduce a subject of tree plantation in the national curriculum. INP

PTM lawmakers travel on Afghan army helicopter from border to Kabul ISLAMABAD APP

Pashtun Tahaffuz Movement (PTM) lawmakers Mohsin Dawar and Ali Wazir on Monday got a free ride on an Afghan National Army helicopter from Pak-Afgan border crossing to Kabul to attend the oath-taking ceremony of President Ashraf Ghani. Mohsin Dawar thanked Afghan President Ashraf Ghani for delaying his oath, because of the two Pakistani legislators who were barred by the Federal Investigation Agency (FIA) from flying to Kabul for being on the Exit Control List (ECL). Prime Minister Imran Khan on Sunday gave one-time permission to the two Pashtun legislators to attend the oath-taking ceremony of Afghan President Ghani.

Mohsin Dawar, in his tweet after reaching Kabul, said, “Wanted to express my gratitude to President @ashrafghani for delaying his oath-taking for the arrival of @Aliwazirna50 and myself.” The Afghan government specially dispatched a military helicopter to rush the two parliamentarians to the ceremony from Torkham. Mohsin Dawar, in another Twitter post, from Kabul said, “Overwhelmed by the welcome we have received here. Wishing a peaceful future for Afghanistan and the region.” Dawar also shared some pictures showing them travelling in an Afghan army helicopter. According to Afghan media, before reaching Kabul, the PTM leaders also briefly visited some officials in eastern Nangarhar province.

CMYK

Tuesday, 10 March, 2020

cOLONeL MARTyReD, 2 TeRRORiSTS kiLLeD iN Di kHAN OPeRATiON RAWALPINDI

STAFF REPORT

N army officer was martyred while two terrorists were killed on Monday as security forces conducted an intelligence-based operation in Tank district of Dera Ismail Khan to foil a “major” terrorist activity. According to a press release from the Inter-Services Public Relations (ISPR), the operation was conducted on a terrorist hideout. A large cache of arms and ammunition was recovered from the terrorist hideout, it added. Colonel Mujeebur Rehman was martyred during the exchange of fire. Rehman hailed from Bunji, District Astore and is survived by a widow, three sons and a daughter.

The military’s media wing further added that during the sanitization operation, a large cache of arms and ammunition were recovered from the terrorist hideout. Prime Minister Imran Khan condoled Rehman’s death in a tweet from the official PTI account. “The whole nation recognises the sacrifices made by Pakistan Army and security forces,” the premier said, adding: “It was because of the sacrifices made by the security forces that terrorism has been wiped out from the country.” Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan also praised security forces on foiling terrorism bid. In a tweet, the special assistant paid tribute to martyred Col Rehman, saying that the nation was “proud of its martyrs”.

PM imran wishes Hindu community 'very happy, peaceful' Holi ISLAMABAD: Prime Minister Imran Khan on Wednesday wished the Hindu community “a very happy and peaceful Holi, the festival of colors”. “Wishing all our Hindu community a very happy and peaceful Holi, the festival of colours,” he wrote. Pakistan People’s Party (PPP) Chairperson Bilawal Bhutto Zardari also wished Holi to the Hindu community. In his message, Bilawal said that the festival of colors was a symbol of sharing joys, unity and peace. He also appreciated the role of minorities in nation-building and assured that the PPP would continue to empower and protect the weaker segments of the society. Holi is a Hindu festival that takes place on the last full moon day of the Hindu lunisolar calendar month and marks the start of spring. This year, the Hindu community across the globe is celebrating the national holiday on Monday (today) and Tuesday. Balochistan government on Sunday announced a two-day provincial holiday for the Hindu community to celebrate the festival. Hindus form the biggest minority community in Pakistan. According to official estimates, 75 lakh Hindus live in Pakistan. STAFF REPORT

NA ‘ignores’ women-sponsored agenda Nearly a third of women-sponsored parliamentary agenda was not taken up during the proceedings, despite their substantial interest and active participation in the house business. Similarly, the chair only allowed women 16 per cent of the total parliamentary time allocated to debates, according to a report released by the Trust for Democratic Education and Accountability-Free and Fair Election Network (TDEAFAFEN). The percentage of women’s unaddressed agenda in the National Assembly, recorded at 38 per cent, was higher than the percentage of their unaddressed agenda in the Senate, recorded 10 per cent. However, the Senate was more responsive to the womensponsored agenda. The NA’s transaction rate — the percentage of the agenda taken up during the proceedings — was 62 per cent in case of women-sponsored agenda, and 67 per cent in case of men-sponsored agenda. The Senate’s transaction rate was 90 per cent related to women-sponsored agenda and 89 per cent in case of men-sponsored agenda. Most of the agenda sponsored by women, however, was in their private capacities. NEWS DESK

Islamabad police book 400 for disrupting Aurat March ISLAMABAD STAFF REPORT

Islamabad Police on Monday registered a case against at least 400 unidentified individuals, including Jamiat Ulema-e-Islam (JUI-F) leader Maulana Abdul Majeed Hizravi, for attempting to disrupt Aurat March which was held in the federal capital on Sunday. One person was injured after participants of the pro-woman march were attacked by individuals who shouted slogans and pelted stones at them. The rally was being held in a des-

ignated area outside the National Press Club when the incident happened. Police had to intervene to control the situation before it escalated. The suspects, which include 11 religious scholars as well, were booked for violating Section 144. The case was registered at the Kohsar police station, in the court of magistrate City Circle Ghulam Mustafa Chandio. The first information report (FIR), registered by the state, also invoked Section 147 (Punishment for rioting), 149 (Every member of unlawful assembly guilty of offense committed in prosecution of a common object), 186 (Obstructing public servant in dis-

charge of public functions), 188 (Disobedience to order duly promulgated by public servant), 341 (Punishment for wrongful restraint), 353 (Assault or criminal force to deter public servant from discharge of his duty) of the Pakistan Penal Code (PPC). The report points out that leaders from various politico-religious parties and students from seminaries had illegally occupied the road across the National Press Club. According to the FIR, the leaders incited violence against participants of Aurat March, after which some people pelted stones at the marchers. The miscreants also tried to enter the premises of the march by using force against security officials present there, it added. Islamabad Deputy Commissioner Muhammad Hamza Shafqaat, who had announced to book the attackers a day earlier, also shared a copy of the FIR on Twitter on Monday.

Omni Group’s Ghani Majeed gets bail in last case ISLAMABAD STAFF REPORT

An Islamabad High Court (IHC) bench on Monday granted post-arrest bail to Omni Group’s Abdul Ghani Majeed in another National Accountability Bureau (NAB) case. The bench directed the accused to furnish a surety bond worth Rs100 million to secure his release. Abdul Ghani has already obtained bail in six cases instituted by the corruption watchdog against him. He would be released from prison once he submits the surety bond in compliance with court’s order. Earlier, Feb

27, an accountability court in Islamabad had withheld a release order for Abdul Ghani Majeed saying the accused obtained bail in six cases but he has been named in seven cases. He needed to secure bail in the last case to pave the way for his release from prison, the court ruled. An Islamabad High Court (IHC) bench had previously approved the bail of Abdul Ghani Majeed in six National Accountability Bureau (NAB) references on medical grounds. The bench ordered Abdul Ghani Majeed to submit 100 million surety bond for bail. Abdul Ghani Majeed had filed a petition in the high court seeking postarrest bail on medical grounds.

Oil crash sparks biggest ‘Black Monday’ meltdown in history CoNtINuED fRoM PAgE 01 In late morning deals, London’s benchmark FTSE 100 index of top British companies were down 6.3 percent having tumbled by almost nine percent early on. In the eurozone, Frankfurt’s DAX 30 slumped 6.8 percent and the Paris CAC 40 dived 6.9 percent, compared with the closing levels on Friday. Italy’s stock market took the heaviest battering after a chunk of the county’s northern region was sealed off — including Milan and Venice — as authorities struggled to contain the spread and impact of coronavirus. In exceptionally volatile trade, Milan’s FTSE MIB index spiralled 9.9 percent lower. As the deadly disease claims more lives around the world, dealers are shedding riskier assets for safe havens, sending gold and the yen surging and pushing US Treasury yields to record lows. While governments and central banks have unleashed or prepared stimulus measures, the spread of COVID-19 is putting a huge strain on economies and stoking con-

cerns of a worldwide recession. Trading floors in Asia were also a sea of red, with Tokyo plunging more than five percent by the close, while Hong Kong dived 4.2 percent. Sydney shed 7.3 percent. Saudi equities tanked more than nine percent with oil titan Aramco’s share price losing 10 percent. Dubai and Kuwait stock markets sank a similar amount, while Abu Dhabi was almost eight percent down. ENERGY FIRMS HAMMERED: Oil majors also bore the brunt of a fierce wave of selling as dealers dumped stocks exposed to tanking oil prices, while other commodities firms nursed heavy losses. Hong Kong-listed CNOOC tumbled 17 percent and PetroChina more than nine percent, while in Tokyo, Inpex dived 13 percent. In Sydney, Santos dived 27 percent and Woodside Petroleum tanked 18.4 percent. In London, BP shares dived 18.2 percent and Shell 12.7 percent. French energy major Total slumped 11.6 percent. Among miners, Anglo American shed 9.4 percent and BHP Billiton sank 14 percent.

NEWS

ALL 25 DeAD AFTeR PASSeNGeR BUS PLUNGeS iNTO SkARDU RiveR SKARDU: All 25 people were killed after a Skardubound passenger coaster fell into River Sindh in Rondu tehsil of Skardu district on Monday. The coaster was traveling from Rawalpindi to Skardu when the accident took place. According to Deputy Commissioner Skardu Khurram Pervaiz, the process of recovering and shifting bodies was underway, adding that they are being shifted to a hospital via Pakistan Army helicopters and ambulances. Earlier, spokesman Faizullah Faraq said that Gilgit-Baltistan Chief Minister Hafiz Hafeezur Rehman has given orders for an investigation into the incident. Taking notice of the incident, Gilgit-Baltistan Governor Raja Jilal Hussain Maqpoon expressed his grief over the lives lost in the accident, adding that his thoughts and prayers were with the families of the victims during this difficult time. In September last year, 26 people died and at least 20 others suffered injuries when a Rawalpindi-bound bus from Skardu hit a small hill near Babusar Pass in Diamer district. STAFF REPORT

Sc seeks evidence details of military court convicts ISLAMABAD: The Supreme Court (SC) on Monday directed the Ministry of Defence to present a full record of the convicts and the charges against them as it took up over 70 appeals against a 2018 order by the Peshawar High Court (PHC), directing the government to acquit those convicted of terrorism offences by the military courts. A three-judge bench, headed by Justice Mushir Alam, presided over the case during which the court issued notices to the Defence Ministry. In its verdict, the PHC had ruled that punishments awarded to 74 convicts by military courts on charges of terrorism were “wrongful” and based on “ill will”. A two-judge PHC bench, comprising Chief Justice Waqar Ahmad Seth and Justice Lal Jan Khattak, had set aside the convictions on grounds of “malice in law and fact”. In its 173-page judgement, the high court had rejected confessional statements of the convicts after highlighting flaws, also questioning whether the right to a fair trial under Article 10-A of the Constitution was extended to the convicts or not. According to Article 10-A, a person shall be entitled to a fair trial and due process for the determination of his civil rights and obligations or in any criminal charge against him. In Nov 2018, the apex court had stayed the high court order with a directive to the jail superintendents concerned to halt the release of the accused who had received different sentences, including death, in a number of cases. During the hearing, the additional attorney general said that there are over 70 cases, each which different charges. “The cases are against individuals involved in militant activities from 2004 to 2015,” he said. STAFF REPORT

04 LAHORE

Tuesday, 10 March, 2020

WEATHER UPDATES TUESDAY

230C

130C

WEDNESDAY

190C

130C

THURSDAY

190C

130C

No IN-HouSE CHANgE, TAREEN SAyS AfTER MEETINg BuzdAR LAHORE

APP

enior PTI leader Jehangir Khan Tareen called on Chief Minister Punjab Sardar Usman Buzdar in his office here on Monday and discussed matters of mutual interest. Talking on the occasion, the chief minister said the PTI government would complete its constitutional tenure under the leadership of Prime Minister Imran Khan. The conspirators should justify the loot made in their tenure and the politics of those,

who made the country bankrupted, has ended forever, he added. He emphasised that conspirators would remain unsuccessful and the propagandists would also face defeat. The government remained involved in public-welfare during the last one and a half years. On the contrary, the past rulers spent billions of rupees on their personal projections, he lamented. The government will burn the midnight oil to fulfill the promises. The matter of southern Punjab secretariat would be resolved amicably, he added.

Jehangir Tareen said the most transparent government was constantly engaged in public service under the leadership of Prime Minister Imran Khan. The opposition has no agenda, he said and added that opposition parties were scattered due to chaos. He made it clear that in-house change would not occur nor there would be any mid-term elections. The hopes of dreamers would remain unfulfilled and PTI would also win the next elections, he added. He further said the progress made with regard to the establishment of southern Punjab secretariat was praiseworthy.

Munshis making hay as Patwari culture shine LAHORE SHAHAB OmER

Amid the government’s struggle to free patwar khanas from private assistants or munshis of patwaris, Shalimar Town Assistant Commissioner (AC) Mehdi Maloof, in a surprise raid, caught red-handed a person working illegally at the Harbanspura Patwar Khana. While the AC lodged an FIR [First Information Report] against the person, the name of Patwari Muhammad Taj was tactfully omitted from the same. However, as per rules, the patwari is the custodian of the patwar khana and responsible for all activities taking place on its premises. According to sources, the raid was not conducted for the elimination of munshi culture, but was specifically for Khurram Mughal – the alleged munshi spotted at the patwari’s office – who is said to be at odds with the AC. While the AC said that Khurram was illegally working as a personal assistant to the patwari, the suspect said that he was present at the office only to get some land records checked. Sources said that almost 78 patwar khanas fall under Shalimar Town where more than 200 private persons were still illegally working with patwaris as munshis, adding that Taj was facilitated by the AC despite several complaints against the former for being allegedly involved in corrupt practices. Sources also said that so many applications against Taj had been submitted with different authorities and he was found to be nominated in an Anti-Corruption Establishment (ACE) case. Meanwhile, following the “successful raid”, a letter was written to the additional deputy commissioner by the Shalimar Town AC. “It is submitted that after several complaints of extortion, today, the undersigned visited Harbanspura Patwar Khana and found that a private individual namely Khurram Mughal was working as munshi but the patwari did not own him as his assistant. Reportedly, Khurram Mughal is known to be working at the behest of rogue elements trying to influence Harbanspura Patwar Khana. Therefore, he has been arrested and shifted to the Ghaziabad Police Station. Further, Revenue Officer Fateh Garh Jameel Khan has been directed to immediately lodge an

SHALIMAR TOWN AC CONDUCTS RAID AT HARBANSPURA PATWAR KHANA AND CATCHES A MUNSHI WORKING ILLEGALLY

PRAyER TImINgS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

4:29

12:13

4:26

6:20

6:07

7:27

MAN KILLEd, THREE INjuREd IN Roof CoLLAPSE FAISALABAD APP

A man was killed, while three others suffered critical injuries in a roof collapse incident in the area of Millat Town police station. Police said on Monday that labourers were working in construction of a new house in Zia Shaheed Colony at Millat Road near Gokhowal when roof of first floor caved in. On getting information,Rescue teams reached the spot and recovered a body and three injured. The body was identified as 48-year-old Zulfiqar son of Ramzan,whereas three injured persons included -- Arshad Ali (60),Nadeem Ramzan (35) and Ali Sabir (32). The body and injured person shifted to Allied Hospital.

THREE fouNd dEAd IN A HouSE LAHORE APP

NAME OF PATWARI MISSING FROM FIR LODGED OVER THE INCIDENT; SOURCES SAY AUTHORITIES ARE PROTECTING HIM

Three persons including two women were found dead in a house under mysterious circumstances in the Bhagbanpura police limits on Monday. Police shifted the bodies to the morgue for autopsy .The deceased were identified as Waqas Ali (26), Razia Bibi (40) and Mustafira Kaleem (15). Further investigation was underway, said police.

PML-N’s Saad Rafique to be shifted to hospital LAHORE APP

An accountability court on Monday ordered to shift former railways minister Khawaja Saad Rafique to Services Hospital for treatment. Accountability Judge Syed Jawadul Hassan passed the orders while allowing an application filed by superintendent camp jail for the purpose. The superintendent had stated that Khawaja Saad Rafique was suffering from severe throat problem and its treatment was not possible at jail. He submitted that as per jail rules, a prisoner could be shifted to hospital for treatment, if its not available in jail.

LHC issues notice to PEMRA over coronavirus awareness campaign FIR against him in Ghaziabad Police Station,” stated the letter dated March 6. “Moreover, it has also been decided to install CCTV Cameras in Harbanspura Patwar Khana to discourage such practices and control extortion and bribery,” the letter stated further. When contacted, Khurram said that technically, a patwari is the custodian of a patwar khana and if he was working as a munshi, how could he work without the permission of the patwari. “If I am a munshi working with the connivance of the patwari then why did the AC not nominate him in the FIR?” he asked. Shalimar Town AC Mehdi Maloof told this scribe

Indian Punjab CM’s wife visits Kartarpur Sahab with 150 female pilgrims NAROWAL INP

Parmeet Kaur, wife of the Chief Minister of Indian Punjab made her way into Pakistan through the Kartarpur corridor to pay her respects at Kartarpur Sahab on Monday. Kaur made her way to the holy site of Kartarpur with a contingent of 150 women who came to pay their respects, founded by the first guru of Sikhism, Guru Nanak, it is believed to be the first Sikh commune and is considered sacred. Pakistan Sikh Gurdwara Parbandhak Committee member Inderjeet Singh welcomed the guests to Pakistan. On the occasion, Miss Kaur said that she was here to pay her respects to the holy place for Sikhs and was feeling great jubilation upon being present at Kartarpur Sahab. She also thanked the government of Pakistan for allowing her and the people she brought along a hassle-free spiritual experience. Earlier on February 18, United Nations (UN) Secretary-General António Guterres, who was in Pakistan on a fourday visit, visited the Kartarpur Corridor.

that he caught the person red-handed when he was illegally working with the patwari. “Almost six people, including a woman, were sitting in front of him and he was doing the job. My aim is to catch corrupt people at patwar khanas and this person was involved in extortion,” he said, confirming that he had lodged an FIR against Khurram, but had not nominated the patwari. Lahore Deputy Commissioner (DC) Afzal Danish said that action should be taken against the patwari and his name should not be left out of the FIR in such a scenario. “Patwari is the official custodian of land records and it is his responsibility to maintain these records,” he added.

LAHORE: The Lahore High Court (LHC) wants an awareness campaign on the coronavirus. Chief Justice Mamoon Rashid Sheikh issued notices to PEMRA on Monday while hearing a case against the shortage of surgical masks in the market. The Punjab government’s lawyer informed the court that an FIR had been registered against the shortage of masks. Justice Sheikh then asked whether an awareness campaign was being run on the coronavirus. The lawyer replied that banners had been hung in hospitals and other public places. STAFF REPORT

Tuesday, 10 March, 2020

Punjab govt presents Medical and Teaching Hospital Amendment Bill in PA LAHORE APP

The Punjab government on Monday presented Punjab Medical and Teaching Hospital Amendment Bill during the current session of Punjab Assembly. Punjab Village and Neighbourhood Council Amendment Bill, Baba Guru Nanak University Bill and Kohsaar University 2020 Bill were also presented during the session. The session started two hours behind its schedule time with Speaker Chaudhry Pervaiz Elahi in the chair. During the session, Provincial Minister for Health Dr. Yasmin Rashid said that Medical & Teaching Hospital Act was being introduced for the betterment of hospitals, adding, this did not mean privatization. She said the Punjab government had constituted boards to look after expenditure affairs of the hospitals. Responding to a question by PML-N MPA Kanwal Pervaiz, the minister said that MRI machine at Jinnah Hospital would be functional in coming month as department had made arrangements with particular company for gas filling of MRI machine. She mentioned the Health department had installed 272 ventilators in the province, adding that all MRI machines installed during PML-N tenure, were dilapidated. She said the opposition should avoid political point scoring. Later, the opposition pointed out quorum on which the Speaker adjourned the session till March 10 (tomorrow) at 3.00 pm.

GovT won'T leAve MAsses Alone in diFFiculT TiMes: dAwood ISLAMABAD STAFF REPORT

Adviser to the Prime Minister on Commerce, Industry, Textile and Board of Investment (BoI) Razak Dawood on Monday said that the Pakistan Tehreek-e-Insaf (PTI) government would not leave the people alone in these difficult times. He was talking to reporters after inaugurating the Pakistan Tobacco Company’s exports project titled “Made in Pakistan 2.0 & Future Manufacturing Investments to enhance exports” at a local hotel in the federal capital.“We are passing through difficult times as the stock market is collapsing and the oil war has started. We have to take prudent policies in these difficult times,” the adviser said, and added that the federal cabinet would discuss this situation in Tuesday's meeting. Dawood said that the premier would approve the textile policy in two to three days as the textile sector was facing capacity issues, adding that the new policy would hopefully solve such issues. He further said that the Ministry of Commerce would also approve the Strategic Trade Policy Framework with the consent of the prime minister. The government’s focus in the upcoming policy is to increase the country’s exports, he added.

About the resignation of BoI Chairman Zubair Gilani, the adviser said that he had resigned on personal grounds. “Gilani is a professional man and I do not have any link with his resignation,” he added. To another question, Dawood said that oil prices in the international market plunged to $31, which was good for Pakistan as “we can get some fiscal space but in this scenario, we have to make decisions cautiously”. Earlier, the adviser said that he was glad to hear that PTC was launching its second project in Pakistan and that the other companies should follow the suit. “It sounds great that the company is now increasing its exports to $50 million from $30m,” he added.

NEWS

FBR extends online integration date for tier-1 tobacco retailers ISLAMABAD SHAHZAD PARACHA

The Federal Board of Revenue (FBR) has extended the date of online integration of tier-1 retailers with computerised systems up to March 31. In this regard, the FBR has written a letter to all inland revenue chief commissioners, including Large Taxpayers Units (LTUs) as well as Regional Tax Offices (RT0s), informing them that the department is pleased to condone the time limit as provided in sub-rule (2) of rule 150ZEA of Sales Tax Rules, 2006, up to March 31, 2020, for online integration of tier-1 retailers' point of sales (PoS) with the board's computerised system for real time reporting of sales subject to the condition that such tier-1 retailers furnish in writing their willingness to integrate all their PoS in terms of aforesaid rules to the respective RTOs / LTUs by March 15, 2020. Tier1 retailer is defined in section 2(43A) of the Sales Tax Act, 1990, to be a person who falls in any of the following categories including a retailer operating as a unit of a national or international chain of stores, operating in an air-conditioned shopping mall, plaza or centre, excluding kiosks, a retailer whose cumulative electricity bill during the immediately preceding twelve consecutive months exceeds Rs1,200,000, a wholesaler-cum-retailer, engaged in bulk import and supply of consumer goods on wholesale basis to the retailers as well as on retail basis to the general body of the consumers and a retailer, whose shop measures 1,000 square feet in area or more. 5,783 PoS of 286 retailers have been integrated with the tax system till January 2020. The FBR had prescribed electronic integration of PoS of all tier-1 retailers of textile and leather sector in budget 2018-19 in order to ensure correct reporting of sales by retailers and realisation of due tax from them.

Tuesday, 10 March, 2020

06 WORLD VIEW

A secret AccOrd with the tAlibAn: when And hOw the Us wOUld leAve AfghAnistAn THE TALIBAN HAVE READ THE SECRET ANNEXES OF THE RECENTLY SIGNED PEACE DEAL. BUT MOST AMERICANS HAVEN’T, NOR HAVE MANY OF THEIR ELECTED REPRESENTATIVES

New YOrk Times

DaviD e Sanger, eric SchMitt anD thoMaS gibbonS-neFF

N a secure facility underneath the Capitol, members of Congress stopped by all last week to review two classified annexes to the Afghan peace accord with the Taliban that set the criteria for a critical element of the agreement: What constitutes enough “peace” for the United States to withdraw its forces? The Taliban have read the annexes. Nonetheless, the Trump administration insists that the secret documents must remain secret, though officials have struggled to explain why to skeptical lawmakers. Defense Secretary Mark T. Esper, in congressional testimony, appeared unaware of — or seemed unwilling to discuss — the secret annexes just days before the agreement was signed. And lawmakers who have paid the most attention to the peace plan also openly express frustration with the lack of a mechanism for verifying compliance that they believe Secretary of State Mike Pompeo had promised. At the core of the two documents, according to people familiar with their contents, is a timeline for what should happen over the next 18 months, what kinds of attacks are prohibited by both sides and, most important, how the United States will share information about its troop locations with the Taliban. While it may sound odd that the American military is sharing troop locations with its enemy of 18 years, the goal is to give the Taliban information that would allow it to prevent attacks during the withdrawal. Mr. Pompeo described the annexes last week as “military implementation documents.” That is part of it, but they appear to be much more. Because the documents lay out the specific understandings between the United States and the Taliban — including what bases would remain open under Afghan control — the details are critical to judging whether the United States is making good on its promise to leave only if conditions allow, or whether it is just getting out. The State Department has struggled to explain why the criteria for the terms, standards and thresholds for the American withdrawal could be known to the adversary but not to the American people or allies. In response to questions from The New York Times, the State Department issued a statement on Friday saying that the documents remained classified because “the movement of troops and operations against terrorists are sensitive matters.” “We do not want, for example, ISIS to know those details,” the statement added, referring to Islamic State fighters in Afghanistan. But another reason for the secrecy, according to several people familiar with the matter, is that the annexes leave the markers for peace remarkably vague, making it far from certain that the Taliban must convert into a coun-

Oil prices crash as oil war begins

terterrorism force — as President Trump suggested a week ago — or that they are required to make complete peace with the elected government of President Ashraf Ghani of Afghanistan. In fact, as written, they appear to give Mr. Trump, or his successor, enormous latitude to simply declare that the war is over and leave. But many of Mr. Trump’s aides suggest that American counterterrorism forces and a significant C.I.A. presence should remain in the country. How that will be resolved within the U.S. government, with the Taliban and with the Kabul government remains to be seen, and any resolution likely will prove difficult. Many of the Republicans and Democrats who have taken the opportunity to review the documents say they are unimpressed. Representative Liz Cheney of Wyoming, the No. 3 House Republican and one of the sharpest critics of the accord, said before the agreement was signed last week, “Any deal that the United States would contemplate entering into with the Taliban should be made public in its entirety.” After reading the pact, including the classified annexes, Ms. Cheney said that the deal failed to provide mechanisms to verify that the Taliban was keeping the promises that Mr. Pompeo had described at the signing. “My concerns still remain,” she said, declining to describe the contents. Senator Christopher S. Murphy, Democrat of Connecticut, said in an interview that the thresholds outlined in the annexes were “remarkably fuzzy” and that it was unclear how the United States would measure success. Representative Tom Malinowski, a New Jersey Democrat who served as a senior State Department official in the Obama administration, posted a blistering message on Twitter last week about the annexes. “Bottom line: the administration is telling a terrorist group the conditions (such as they are) of our withdrawal from Afghanistan, but not telling the American people,” he wrote. “This is wrong. And it serves no national security purpose.” Lawmakers have voiced widespread unhappiness about Mr. Pompeo’s outreach on the subject. He called top members on the Senate and House committees dealing with foreign affairs last weekend to give them a cursory heads-up that the documents were coming to Congress, but lawmakers and their aides said they had not heard from him since. Days before the agreement was signed, Mr. Esper and Gen. Mark A. Milley, the chairman of the Joint Chiefs of Staff, appeared to not know about — or seemed reluctant to discuss — the secret annexes. “Are you aware of any contemplation of any secret side deals with the Taliban?” Ms. Cheney asked on Feb. 26 during a House Armed Services Committee meeting. “Nothing, nothing comes to mind right now that you’re mentioning,” Mr. Esper replied. “You’re quoting things that I haven’t seen,” General Milley said. The annexes predominantly revolve around a committee to facilitate communication between the two parties to ensure commitments are being adhered to, according to officials who have read them. No details have come to light about the composition of that committee. They describe the parameters for when it would and would not be appropriate to use force, including commitments from the Taliban not to attack American forces during a withdrawal. Over all, the annexes make up no more

David E. Sanger is a national security correspondent. In a 36-year reporting career for The Times, he has been on three teams that have won Pulitzer Prizes, most recently in 2017 for international reporting. His newest book is “The Perfect Weapon: War, Sabotage and Fear in the Cyber Age.” Eric Schmitt is a senior writer who has traveled the world covering terrorism and national security. He was also the Pentagon correspondent. A member of the Times staff since 1983, he has shared three Pulitzer Prizes. Thomas Gibbons-Neff is a reporter in the Washington bureau and a former Marine infantryman. Catie Edmondson contributed reporting.

The oil price war is turning into a debt war

Oilprice.cOm Michael Kern

Russia has just sparked what may end up being among the ugliest oil price wars in recent history. And Saudi Arabia is firing back. As the two oil superpowers face-off, American oil companies may end up as the biggest victims. Russian President Vladimir Putin announced on Sunday that present oil prices were sustainable for the Russian economy. Adding that Russia had the tools to react to any adverse results of the spread of the coronavirus on the global financial climate. “I want to stress that for the Russian budget, for our economy, the current oil prices level is acceptable,” Putin explained in a meeting with Russian energy officials. Now some oil analysts are anticipating barrel prices as low as $20 within the year. Some experts have suggested that Russia’s move is intended to counter U.S. shale producers and hit back against the U.S. for targeting the Nord Stream 2 gas pipeline connecting Russia and Germany. Saudi Arabia blasted back, in kind. Sunday morning, Saudi Arabia dropped its own oil weapon. Its latest plans will not only reduce its unrefined price to Chinese consumers by as much as $6 or $7 per barrel, but it is also reportedly looking to increase its daily unrefined output by as much of as 2 million barrels per day into an increasingly oversupplied international market. The shocking move by the Saudis is both a market share grab as well as a loud signal to Moscow that it is finished playing games. Within seconds of the market opening on Sunday night, oil prices plummeted as much as 30 percent, driving crude to its lowest level in four years. The Brent crude benchmark fell from $45 a barrel to $36.44 at the time of writing, while WTI plummeted from $40.45 to $32.97, in one of the single worst drops in recent history.

than a few pages, often with just one to two sentences laying out each component. For example, the Taliban are not to conduct suicide attacks, and the Americans forgo drone strikes — portions of the agreements that thus far have held. General Milley hinted in congressional testimony last week what scope and scale of attacks were not permitted under the agreement. “There is no attacks in 34 provincial capitals, there is no attacks in Kabul, there is no high-profile attacks, there is no suicide bombers, there is no vehicle-borne suicide, no attack against the U.S. forces, no attack against coalition,” General Milley told the Senate Armed Services Committee on Wednesday, after reports that the Taliban had carried out attacks against Afghan security forces. “There is a whole laundry list of these things that aren’t happening.” In its statement, the State Department said the secret annexes were consistent with the public agreement. “The arrangements include specific commitments by all parties to efforts to continue to reduce violence until a permanent and comprehensive cease-fire is agreed in intra-Afghan negotiations, while preserving the right of all parties to self-defense,” it said. The United States has “a robust monitoring and verification mechanism” to track and assess the behavior of the Taliban, it added. But those who have seen the agreement said the specifics were so nebulous that they doubted the United States retained much leverage. “The documents provided none of the assurances that I felt like we heard from Secretary Pompeo and others about a rigorous process that was going to make sure we hold the Taliban accountable for their end of the deal,” said Representative Andy Kim, Democrat of New Jersey, who served in Afghanistan as a civilian adviser to Gen. David H. Petraeus. “I saw nothing in there that gives me any confidence” that those assurances are in place “beyond trusting the word of the Taliban,” he said. “This vague, thin package of documents is all we could actually get agreed to by the Taliban. I don’t really understand how we can say we have what we need to be able to commit to the troop level agreements that have been articulated.” He added, “How can I meaningfully talk to my constituents about this when I’m not even allowed to share information with them that the Taliban already knows? Mr. Murphy agreed, but noted, “That being said, I’m not sure we were ever going to get bright-line terms for the mechanisms by which the Taliban prevents extremist groups like Al Qaeda from ever returning to Afghanistan.” “I think the terms were always going to be very difficult to put down into words,” he said.

BlOOmBerg DaviD FicKling

In a war of attrition, the winner isn’t the force with overwhelming power, but the one with the greatest capacity to sustain damage. The current price war in the oil market is little different. Brent crude fell the most since the 1991 Gulf War Monday, dropping 31% in a matter of seconds, after Friday’s OPEC+ meeting broke up in disarray and Saudi Arabia slashed its crude prices and promised a surge in output. That decision to open the spigots may seem contradictory from a country that just days ago was trying to coax Russia to join a 1.5 million barrels-a-day production cut. What’s happening, though, is really just a change of tactics. While previously Saudi Arabia hoped to maintain its position and revenues in the oil market by encouraging cooperation between major players, it’s now betting that its best prospect is to do the opposite: Engage in a game of chicken with Moscow and the U.S. independent oil industry, and count on being the last player standing. If done right, this approach can be devastatingly effective. The current crisis looks like nothing so much as Saudi Arabia’s decision to flood the oil market in 1985 after years of restraint. That event, as we’ve written, ultimately helped precipitate the fall of the Soviet Union. Each of the major players has advantages and disadvantages right now. No one can produce oil as cheaply as Saudi Arabia: It takes just $2.80 to get a barrel out of an existing Saudi Arabian Oil Co. field, compared with about $16 for Exxon Mobil Corp. and more than $20 for Rosneft PJSC.

Overheads in this industry can be significant, though. That’s particularly the case with Aramco, which isn’t just an oil company, but an institution almost indistinguishable from the Saudi state itself. Once you consider the dependence of the Saudi economy on oil production, the best complete measure of Aramco’s overheads is probably the price at which the country’s budget breaks even — and that’s a whopping $83.60 a barrel, which we haven’t seen in more than five years. Russia’s fiscal breakeven is around half that at $42 a barrel, and after sharp improvements in recent years, commercial producers in America’s Permian basin are around the same level. Of course, at current prices everyone’s losing. Brent dropped as low as $31 a barrel Monday, and should a prolonged price war set in, it could go lower still. That’s where we have to start thinking about all three players’ ability to endure pain. After all, running a budget deficit isn’t the end of the world — indeed, it’s the normal condition for most countries. Credit markets can easily see a solid business through a patch of low prices as long as lenders expect things to recover, and the general risk-averse backdrop means that governments in particular can borrow cheaply. The yield on Saudi Arabian government bonds maturing in April 2030 is currently 2.38%, and in spite of U.S. sanctions Russian 10-year bond yields touched a record low of 2.56% last week. Thanks to the slump in Libor, investment-grade energy debt in the U.S. is also quite cheap, with option-adjusted spreads implying a rate of about 2.95% at present — but spreads for the junk debt that’s financed so much of America’s shale boom have surged, adding up to about 10.6%. With everyone pumping below their breakeven costs, the winners and losers in this fight are likely to be decided by capital markets, rather than commodity markets. That probably leaves U.S. producers most vulnerable in the near term. While oil-price hedges and investment-grade balance sheets can provide a cushion for low prices, shareholders have been falling out of love with crude producers for a while. In this environment, they’re unlikely to show much patience for the likes of Exxon Mobil and Chevron Corp. getting into trench warfare with the Russian and Saudi governments, and life will be even tougher for smaller producers with weaker balance sheets.

The bigger problem for Saudi Arabia is that even a withdrawal of shale production will leave the fragile truce it’s enjoyed with Russia in tatters, just as the prospect of a plateau and peak in oil demand looms ever closer. Riyadh’s race-to-the-bottom strategy only worked in 1985 because it was the lowest-cost producer. Now, its bloated budget means that it’s one of the highest-cost and shakiest players. It remains embroiled in a costly and brutal military quagmire in Yemen, and on Friday arrested senior royals on the grounds they were plotting a coup. More than four years after Prince Mohammed Bin Salman began the economic reforms that were intended to diversify the economy’s dependence on crude, the prospect of prices ever returning to fiscal breakeven levels looks even more remote. Even Saudi Aramco shares are now trading below their offer price. Countries embarking on wars often expect they’ll be over in a few months, only to discover their opponents were stronger than they thought. Should this turn into a prolonged fight, Moscow is unlikely to be the first player to fold.

Tuesday, 10 March, 2020

08 COMMENT

Humble submissions to feminist countrymen

Peace process endangered With two Presidents in Afghanistan

nTRA-AFGhAn talks scheduled for today are nowhere in sight, thanks the rivalry between Messrs Ashraf Ghani and Abdullah Abdullah. hectic efforts by US Special Representative Zalmay Khalilzad to stop the two contenders for power from conducting parallel oath taking ceremonies failed on Monday afternoon. With both candidates having been simultaneously sworn in as Presidents of the same country, Afghanistan has been pushed into a new crisis. Among other things it will affect the morale of the Afghan forces fighting the Taliban and weaken the Afghan government’s position in talks with the militant outfit. A way out needs to be urgently found by the Afghan leadership and the countries that have stake in the Afghan peace. Mr Ashraf Ghani’s swearing in ceremony was attended by top US civil and military officials in Afghanistan besides Mr Khalilzad as well as ambassadors of important european countries. This shows the tilt of those who provide military support and funds towards Mr Ghani. These countries bear a greater responsibility to end the chaos. A number of important Afghan politicians boycotted both ceremonies indicating that they were concerned about the consequences of the emerging confrontation. The US and Russia have vowed to oppose any move by the Taliban to restore the Islamic emirate of Afghanistan which was a totalitarian theocracy under Mullah Omar. They have pledged to work with the Kabul government, Afghan political leaders, civil society and the Taliban to work out a comprehensive and sustainable peace agreement that ensures a democratic polity, rights for women and minorities and the end of the war that would contribute to regional stability and global security. The goal cannot be achieved unless the present split in Afghan leadership is healed, giving way to a broader understanding and unity. It was unfortunate to debar the two PTM supported MnAs from the tribal districts from proceeding to Afghanistan to attend Mr. Ghani’s inauguration as was belatedly realized by the government. It is time that those who matter, learn to trust the elected representatives of the people. While others have failed to do the job, they might play an effective role in resolving Pakistan’s differences with Afghanistan.

And countrywomen too, of course

haSaN aFTaB SaEED

hIS week I had intended to write on a topic closer to my heart, but the ongoing feminism hoo-ha has put paid to that. So much for intentions! I could still have gone ahead and get that published, of course, but something tells me that with passions soaring and tempers flying my piece on the contribution of the moustache to human civilization is unlikely to get the kind of attention a subject like that deserves. It will therefore be more befitting to share my two cents on the big feminism debate going on in the country. In what follows, then, are some sincere suggestions for those feminists who really want to improve the lot of women, as opposed to cheap fame or some such vested interest. There may be some things the feminists won’t like, but they are requested to consider them, nevertheless. For, if the goal happens to be a happier and more just society (as it is advertised to be), I am squarely on your side. Mera jism meri marzi is well and truly tainted now. There’s a genuine concern on the part of feminists that the slogan is often taken to mean more than what they intend by it. And I am sure at least some of them sincerely believe so. ‘My body, my choice’ (whose lazy translation it is) is a pro-choice slogan imported from the West which means much more than most of our feminists would explicitly admit fighting for. With this sort of baggage, and our own feminists having added some more of their own for good measure, you have two options: Keep repeating it like a broken record (which your opponents would love you to do, so that they can keep pouncing on it);

Adding fuel to fire

eSTeRDAY, there was a bloodbath across international stock markets as soon as trading opened in various countries as oil prices plunged by close to 30%; the worst one-day drop since the Gulf War in 1991. The novel coronavirus has already wreaked havoc across the globe, causing stock markets to plunge, forcing major economies like the US to consider cutting interest rates to zero in order to minimize the impact of the fast spreading disease on its economy. UK’s 2-year bond, for example, has turned negative for the first time ever. OPec (Organization of the Petroleum exporting countries) was pushing to cut production amid an expectation of drop in demand for oil due to the coronavirus epidemic but Russia, one of the largest oil producers in the world, was resisting any such move. negotiations failed and a price war ensued that has culminated in the massive drop in the prices of Brent and Brent crude, the global benchmark for oil prices. Pakistan too has not been spared from the fallout as the KSe-100 index plunged 2,100 points within six minutes of the stock market opening on Monday morning, forcing a precautionary 35-minute stoppage in trading, which is the largest intraday fall in the country’s history. Foreign money parked in equities has started to flow out with $21 million exiting the market last week bringing the number to a startling $65 million in a month. If interest rates come down then outflow of ‘hot money’ that provides the much-needed support and comfort to the PTI’s economic team, will also start. According to government figures there are only seven reported cases of the coronavirus in Pakistan. efforts at containment through border closures and quarantine are commendable but countries like Iran, Italy and the UK have experienced similar figures initially only to be followed by a surge in cases overnight. Preparations to address the direct effects of the coronavirus must be made now in order to handle a situation where it starts spreading much more rapidly. The indirect effects, such as that on the economy, could be catastrophic for a country as fragile as Pakistan. Although falling oil prices will help in reducing the current account deficit further, this is no time to become complacent. The government should be prepared for any sort of shock to the economy.

Shah Nawaz Mohal

nce upon a time, the lines were neither blurred nor ignored. They were clearly drawn, meticulously obeyed and upheld by those who drew and respected by those for whom they were drawn. Women knew their place in the scheme of things charted out by their male masters, in a male-dominated, male-run, male-serving, male worshipping universe. And then came the awakening, the dissent; the war cry. And the tables started to turn. Women demanded equality, at first they were denied and laughed at. They vied and succeeded. They wanted to go out from the confines of home and contribute like their male counterparts; they were ridiculed and snubbed at. They went out and made their mark. They, slowly and steadily, won some semblance of emancipation yet their quest is far from over. Of late, the warring sexes went on a fresh assault against each other, armed to the teeth, the eternal battle now rages anew every day. The Second Sex blames the First Sex of denying them rights, stifling their existence, harassing them at work, enslaving them at home, objectifying them in media, degrading them in popular culture, denying them equal opportunities, restricting them from getting equal remuneration, condemning their lot to invisible glass ceilings and relegating them to a corner. no news here, dear reader, the sons and daughters of Adam and eve had been ill at ease since forever. Presently, one can’t help but think how lucky Adam and eve were for they knew not what dilemmas, what dichotomies, what unnecessary tragedies and what deplorable lives their progenies would

Arif Nizami Editor Umar Aziz

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Hasan Aftab Saeed is a connoisseur of music, literature, and food (but not drinks). He can be reached at www.facebook.com/hasanaftabsaeed

The Eternal strife continues between two sexes

Dedicated to the legacy of the late Hameed Nizami

Joint Editor

about walking the talk, for a change? The next time you ask your husband/brother/son to open the lid of a jar for you, or troubleshoot the water heater, or fix the door-bell, remember that you are harming the cause of feminism and letting your comrades down in the process. There’s no law against women marches, of course. Those who moved the court to stop people from participating in them are clowns (to put it mildly). But also remember that there’s no law against making a fool of oneself either. There’s nothing ‘enlightened’ about merely participating in a march. In fact, some of the things said and done in these marches suggest the exact opposite. Freedom of expression is a double-edged sword. If you are entitled to it, then your opponents are entitled to it as well. Don’t play the victim when that happens. The ‘You were rude to a woman’ whining needs to stop. nobody should be rude to anybody – man, woman or child. Besides, isn’t this whole campaign about equality of men and women? Well, one perception about men is that they are tough (whether they really are, is a debate for another time). claiming to be equal to men but crying foul the moment the going starts getting tough is akin to having your cake and eating it too. Which is it? Are you, or are you not, equal to men? It would help immensely to make up your mind one way or the other. If you succeed in realizing your aims (whatever those are) it won’t be by lip service and sloganeering alone. To those who think putting up women-march DP filters makes a telling contribution to the cause, I would say think again. And ditto for those ‘rebels’ who find no cause or slogan silly enough not to immediately get on the bandwagon of. I earnestly hope these two demographics are not all that the feminists have.

Sons of Adam vs. daughters of Eve

The oil price war and coronavirus together will trample world markets

Aziz-ud-Din Ahmad

or come up with a more sensible alternative, one that is more representative of your movement. You can surely come up with an original slogan, can’t you? Again, I am assuming that helping women, instead of creating controversy, is the goal here. When you focus on the body so much, as opposed to brains, you give your detractors the opportunity to point out that you think the latter to be less important. now that may not be true in many cases; but in all fairness, as things stand today, if one takes away from the feminism movement double-meaning slogans laced with sexual innuendos, precious little is left. It may also be a good idea to stop making fun of those who don’t see eye-to-eye with you. nobody wants to be portrayed a fool. Besides, when you assume somebody is unaware of some very basic things, that person only thinks you are living in a fool’s paradise. If the goal is to have people on your side, as opposed to sounding smart, then the strategy isn’t working. I am assuming that at least some of you are in this for more than the gratification of your ego. Your slogans make it seem as though sexual exploitation is the only form of exploitation faced by women. By keeping the financial and social exploitation of women in the background, you are guilty of grossly oversimplifying the situation. If Khalil-ur-Rehman Qamar being the leading ‘light’ in the camp opposing you isn’t a credit to that camp, Marvi Sirmed being the leading ‘intellect’ in your camp isn’t a credit to your camp either. Leaving aside the dogmatic crowd on either side, she will do nothing to make your cause appeal to those who have yet to make up their minds one way or the other – in fact, quite the contrary. The only way to change that is to come up with saner representation that will put the Sirmeds in the background where they belong. That is something nobody can do for you from the outside. You will have to do it yourself. It’s all very well to claim (on placards and on social media pages) that you can change a flat tire. how

Karachi – Ph: 021-35381208-9

even when our present is under a pall of uncertainty, have to brave. For our foremost Father and Mother, things and we hold their hands with all our might in their ab‘stuff’ were plain and simple. They were in perpetual sence, we talk like maniacs on adrenaline, we listen survival mode. Men hunted, women procreated. like stones, we suffer like stoics, we revel in silence everybody knew who the master was. everybody re- and we laugh at their jokes with wanton abandon. It is impossible to delineate a lady in love better spected and remained cowered in front of the Master. enter civilization and for good many eons the than Simone de Beauvoir who in her magnum opus fundamentals remained intact. Patriarchy reigned ‘The Second Sex’ has the following to say. There, supreme sans challenge, without threat. Women re- savor it with all your senses: ‘When she does not find love, she may find pomained subdued. While the civilization promised to etry. Because she does not tame the savage within and act, she observes, she feels, lead us to a promised nirshe records; a color, a smile vana. That didn’t happen, as awakens profound echoes civilization had long ago bewithin her; her destiny is trayed us, or rather we beAnd the tables started to outside her, scattered in trayed ourselves, as all that turn. Women demanded cities already built, on the was spontaneous, all that faces of men already was primal, all that was eleequality, at first they were denied marked by life, she makes mental has been repressed, sublimated, deflected, and laughed at. They vied and contact, she relishes with passion and yet in a manner buried and denied. succeeded. They wanted to go more detached, more free, Then something big that of a young man. happened; we found that we out from the confines of home than Being poorly integrated in can alter nature in most funthe universe of humanity damental of the ways. and contribute like their male and hardly able to adapt Two centuries back we counterparts; they were herself therein, she, like the hailed the Dawn of Machild, is able to see it objecchines and an immense need ridiculed and snubbed at. They tively; instead of being infor hands to ‘man’ the industerested solely in her grasp tries coupled with withering went out and made their mark. on things, she looks for away of centuries’ old traditions and societal norms; They, slowly and steadily, won their significance; she catches their special outwomen had an opening of vistas, a world full of oppor- some semblance of emancipation lines, their unexpected metamorphoses. She rarely tunity awaited them. That yet their quest is far from over feels a bold creativeness, was the end of man’s comand usually she lacks the plete sovereignty over technique of self-expreswomen. sion; but in her conversaAnd as they say, the rest is history. They marveled at all they surveyed. They tion, her letters, her literary essays, her sketches, she reached zenith in science, medicine, philosophy, lit- manifests an original sensitivity. The young girl erature, education and all fields that were considered throws herself into things with ardor, because she is not yet deprived of her transcendence; and the fact a sole domain of gentlemen. There were countless hands that launched a thou- that she accomplishes nothing, that she is nothing, sand ships from the Island of Isolation and burned the will make her impulses only the more passionate. empty and unlimited, she seeks from within her topless towers of many an Ilium’s, dear reader. The question, now, is how to balance the collec- nothingness to attain All.’ May all the dames, damsels, and ladies find love tive yearning for emancipation with private longing to belong and be madly in love with a ‘Special One’. in the times of #metoo and feminism! Few among us haven’t experienced sleepless Shah Nawaz Mohal is a law graduate and nights because we can’t stop thinking about someone. We imagine them right next to us when they are hun- journalist based in Islamabad. He can be reached at dreds of miles away, we envision futures with them mshahnawazmohal@gmail.com.

Islamabad – Ph: 051-2204545

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Tuesday, 10 March, 2020

COMMENT 09 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

Women’s rights are human rights

How World Bank arbitrators mugged Pakistan Yet, another massive blow to Pakistan’s government had been awarded $5.9 billion penalty last year

MohSiN SalEEMullah

poor country was jolted with a penalty worth billions of dollars last year for losing its battle against two global giants of the mining industry. The giants, Antofagasta PLc of chile and Barrick Gold corporation of canada, filed a lawsuit in the World Bank’s corrupt Investment Arbitration Tribunal for an illegal project that Pakistan’s government claimed was never approved or carried out. In 1993, Pakistan entered into a joint venture (JV) through its provincial government’s public corporation, Balochistan Development Authority, with the United States’ mining company, BhP, to explore the gold and copper mining prospects in the challenging terrain of Balochistan. The company’s license premised on discoveries and extraction of minerals, but the profit margin wasn’t favorable to BhP which made the project drag longer than usual. Later, in 2000, the company assigned its exploration to an Australian company and created a new subsidiary, Tethyan copper company (Tcc), for the project. Pakistan’s government at the time had no clue, until in 2006 Antofagasta of chile, acquired Tcc for $167million and sold half of it to Barrick Gold. Unusual activity was noticed by the government officials and they challenged the originally signed JV agreement with BhP in the country’s apex court, the Supreme court of Pakistan. The JV agreement was declared “null and void” with further mentioning of curtailing Tcc’s right and was a landmark judgment announced by the Supreme court in 2013. The court was of the opinion that the JV terms signed by the BDA with BhP contravened with Pakistan’s mining and contract laws on multiple levels. It further questioned the provincial public corporation’s authority to bind Balochistan to the JV terms, and specifically raised concerns over tendering this project without any competition and transparency, which was compromised to favor BhP. The compromise reached between the public and private entity was made at the cost of deviating from the rules mandatorily compiled for mining purposes. The JV made no efforts to seek permission from

the federal and provincial government in a Pakistan to reimburse Tcc fully, with the accrued interest including legal fees that sky-rocketed the timely fashion. The apex court in any country is the last re- bill to a whopping $5.9 billion or nearly 2% of sort of appeals, but its verdict can rarely be chal- Pakistan’s Gross Domestic Product (GDP). The lenged. After years of public interest litigation country has yet to repay a bailout loan of $6 bilcarried out in Pakistan against the mining com- lion it received from the International Monetary panies for breach of domestic laws and public Fund (IMF) to prevent an economic crisis back home. With recent staright’s infringement, tistics, Pakistan’s entire the Tcc dragged Pakpublic spending on istan to the World health care for 200 milBank’s international lion people is twice less center for Settlement The tribunal’s capricious than the bill, especially of Investment Disjudgment asked Pakistan to in a country where 7% putes after losing its of children die before battle in the Supreme reimburse TCC fully, with the their fifth birthday. court. A panel of three Unfortunately, the judges with no expertaccrued interest including death of Pakistan’s ise in Pakistan’s legal legal fees that sky-rocketed the economy with unreasystem at the arbitrasonable penalties retion tribunal asked bill to a whopping $5.9 billion or veals the inner story of Pakistan to pay comIcSID, as a dishonest pensation for all the nearly 2% of Pakistan’s Gross broker. To our surprise, future profits that Tcc Domestic Product (GDP). The one of the tribunal would have made in members in the Tcc the event of its workcountry has yet to repay a case against Pakistan is ing on a non-existent counsel for the same project. no project bailout loan of $6 billion it company in another ever existed for which case. however, the ararbitrators passed received from the International bitrator continues to judgment to pay for Monetary Fund (IMF) to prevent work at the same posithe royalties, corporate tion in IcSID, as if taxes, and other basic an economic crisis back home nothing happened. provisions, and was To correct what never discussed with seems as “malpracthe Balochistan and tice,” prevailing in the Pakistan governments. Perhaps, there was disagreement on terms that World Bank’s arbitration tribunal, action should went for years which hampered the negotiations. begin with a reversal of this flawed judgment Sadly, the system we live in is polluted with against Pakistan, and a thorough investigation of arcane policies, has undermined and threatened flawed corrupt practices. the existence of poor countries which are badly Mohsin Saleem Ullah reports for Fox News struck with the International arbitration court’s in Pakistan and is a freelance columnist. He decision in favor of rich companies. The tribunal’s capricious judgment asked tweets at @MohsinSaleemU

cOnSeRVATIVe groups in Pakistan are often heard to invoke a famous saying: the proper place of a woman is in her “chadar aur char diwari” meaning veiled and within the four walls of her home. Since 2018, Aurat March - Urdu for Women’s March - has been held in many cities across Pakistan to coincide with International Women’s Day on 8 March. Pakistan is one of the Islamic countries of the world. In Islam women and men enjoy equal rights, unfortunately in Pakistan women have no value or importance. They are treated just as wives of houses but their emotions, feelings and happiness are not understood. Women should be allowed to make their own decisions but generally families deem it fit to make most decisions for females. Secondly, in our country the moment a woman is born most of her decisions are made for her. however, when a boy is born, his family would try to give him a chance to do whatever he likes. Women are not allowed to go outside. But why? Don’t they have rights? Doesn’t Islam allow her to move? Is this the way to behave with women? Don’t they have emotions, feelings and happiness? Don’t they want to enjoy their lives? Are they being not equal to men? Yes, they are equal to men and we need to understand their emotions. however, women are thought to be nothing. Until women and men are working together, shoulder to shoulder, this country wouldn’t develop or progress. So I want to say that women should be given value and importance and we should consider them as ‘us’ when we give them their basic human rights. It is requested you to publish this issue on your newspaper as soon as possible so we can get rid of this discrimination timely. WArISHA QAISEr ALI Karachi

TikTok timebomb TIKTOK is a popular app that delivers interesting and unique special effects to create wonderful short. It has become an annoyance in the society. It has slowly become the requirement of every teen. They have got increasingly dependent on it. The addiction of the application among youth has created a lot of tensions among their parents. constant use of this application has become a pain more than enjoyment for people. This application is seen to be a time-waster. People unnecessarily spend a lot of time in creating music videos. The time they put in creating these videos when invested in learning any new skill or knowledge can prove to be a lot more advantageous to them in the future.this app comes with risky consequences. Thus, in our opinion, TikTok has created more harm than a positive impact on people. Teenagers are so much involved in this app and dying because of this app like a person who made a TikTok video on the roof of the building, when he took a step backwards Suddenly, he fell from the roof of the building and died. This problem is not finished at this stage. not only one case is happening like this a lot of cases are happening, so, we want that TikTok should be banned as soon as possible because people are so much engaged and destroy their career. We hope you will do better for us. ArEEbA SHAHId Karachi

Underage riders RecenTLY, we have seen an increase in these underage riders. Underage bikers, which not only poses danger to other people on the road but the kids themselves too. Many riders below eighteen are seen riding bikes on the streets without any safety measures. Mostly, kids are encouraged by their parents to learn to ride, to do some nearby work easily through this ride. This leads them to ride them on the streets in busy traffic. These children then get engage in prone to road-rage, over-excitement & speeding, and incapable of making split-second decisions, violating traffic rules which cause dangerous accidents. Police should be strict action against these underage riders. nevertheless, parents should be more careful to don’t let their children come on the road until they aren’t legalized by the government. JArrI AbbAS Karachi

Attack on Aurat March MAnY people had gathered at the Islamabad Press club to march against patriarchy on Sunday, 8 march. The participants had just started walking when a group of men started pelting stones at them. Some of those men even attacked the women with sticks. Tell me again how Aurat March is a threat to this country? The threat comes from these kind of people who are willing to injure and kill those who stand up peacefully for their rights and yet they say what women need as they already have everything in this society. They need protection from such men who hit women just because they are raising their voices for their rights. even the harmless Aurat March is not being accepted in this society. MAryAM Noor Lahore

Reckless drivers FOR the last two or three years, there has not been a single day when road accidents didn’t occur in Karachi. Most of the accidents were caused by reckless driving. Mostly in highways truck drives and those who drink and drive are notorious for rash driving. The other day I was horrified to witness a dreadful accident. A young biker and his wife were crushed to death when a speeding truck that came from behind ran over them. They died on the spot itself. I am sure that it was not an isolated incident. countless innocent lives are lost on the roads, thanks to rash driving and It is due to because there is no proper check and balance of our traffic police, even the drivers have no license and some of the drivers are underage so they don’t know how to drive on the highways or even on the road. The concern with reckless driving is that it poses a significant risk to the people in the surrounding area as well as the driver. Reckless drivers could kill children, animals and pedestrians. A car that spins out of control can harm other vehicles on the road. In addition, reckless driving can cause significant damage to property. Thus, it goes without saying that reckless driving is a public safety issue that must be properly addressed. SHAHzAIb SHAIKH Karachi

07-10 Foreign News-10st March 2020:Layout 1 3/9/2020 11:08 PM Page 2

Tuesday, 10 March, 2020

10 FOREIGN NEWS

malaySia NamES SENior BaNKEr To fiNaNcE poST aS poliTical Turmoil SETTlES KUALA LUMPUR

AGENCIES

ALAySIA’S new Prime Minister Muhyiddin yassin named a senior banker as finance minister in his new administration on Monday, looking to calm jitters tied to domestic political turmoil and global recession fears over the coronavirus. Sworn in a week ago, Muhyiddin emerged at the head of a new coalition after days of political chaos following the abrupt resignation of veteran leader Mahathir Mohamad last month. While Mahathir had led a multi-ethnic coalition, Muhyiddin’s new pact is dominated by conservative, ethnic Malay parties, notably the former ruling United Malays National Organisation (UMNO) which was ousted in the 2018 election, and the Islamist Parti Islam Se-Malaysia (PAS). The appointment of CIMB group chief executive Tengku Zafrul Tengku Abdul Aziz is the first time a non-politician has been made finance minister.

Muhyiddin said the decision to name Zafrul, who has led CIMB since 2015 and is an avid cyclist and Ironman competitor, was part of the goal of creating “a cabinet that delivers”. CIMB announced Zafrul’s resignation from all positions with the bank with immediate effect. “Perhaps the government wants to ride on his relationship with foreign fund managers and bankers – they are important stakeholders in attracting investments into the country,” said Adib Zalkapli, a Malaysia director with Bower group Asia. Muhyiddin’s new Perikatan Nasional or National Alliance coalition is expected to steer policies in favor of the country’s ethnic Malay majority, but the government’s immediate task will be to protect the export-focused economy from the impact of the coronavirus. Malaysia has so far reported 99 infections. SLOWING ECONOMY: The government has cut its growth forecast for this year and announced a 20 billion ringgit ($4.76 billion) stimulus package. The economy grew at its

slowest pace in a decade in the fourth quarter. The sharp fall in world oil prices, which intensified on Monday, will also be a drag on the country, the world’s third-biggest exporter of liquefied natural gas. Another worry is its diplomatic row with India, the biggest buyer of Malaysian palm oil. Muhyiddin also announced four new senior minister portfolios to oversee the economy, security, infrastructure development and education. They were split between his party, UMNO and those supportive of his new coalition. “With these senior ministers, there is no need for the time being for a deputy prime minister to be appointed,” Muhyiddin said at a news conference. The four senior ministers include Azmin Ali, who was seen as an important figure behind the government change. He will oversee the international trade and industry portfolio. Earlier on Monday, the prime minister’s office announced the appointment of Azam Baki as the new chief commissioner of the Malaysian Anti Corruption Com-

mission, after the resignation of Latheefa Koya last week following Mahathir’s resignation. Attorney-general Tommy Thomas, who brought corruption charges against Najib and other

members of the ex-premier’s former administration, quit the previous week. He has since been replaced by former federal court judge Idrus Harun. In his first week as prime minis-

ter, Muhyiddin had already faced criticism after he postponed the start of parliamentary proceedings by two months amid efforts by Mahathir and the opposition to challenge his government with a confidence vote.

uK biggest retailer Tesco sells Thailand, malaysia ops for £8bn

KIRKLAND: Lori Spencer talks on the phone through a window with her mother, Judie Shape, who is 81 and was tested for coronavirus this morning, at the Life Care Center of Kirkland, the long-term care facility linked to several confirmed coronavirus cases in the state, in Kirkland, Washington. AGENCIES

LONDON: Britain’s biggest retailer Tesco said Monday that it has agreed to sell its businesses in Thailand and Malaysia to Thai conglomerate CP group for £8.0 billion ($10.4 billion, 9.2 billion euros). “Following inbound interest and a detailed strategic review of all options, we are announcing today the proposed sale of Tesco Thailand and Tesco Malaysia,” said outgoing Chief Executive Dave Lewis in a statement, adding the supermarket chain would return £5.0 billion of the proceeds to investors. “This sale releases material value and allows us to further simplify and focus the business, as well as to return significant value to shareholders.” Tesco added that the divestment will also slash debt and streamline the group, enabling a “stronger focus” on UK, Irish and central European activities. “The disposal will further de-risk the Tesco business by reducing indebtedness through a £2.5-billion pension contribution that, along with other measures, is expected to eliminate the current funding deficit and significantly reduce the prospect of having to make further pension deficit contributions in the future,” the retailer said. The move was unanimously agreed by the Tesco board, but remains conditional on shareholder and regulatory approvals. The deal is set to complete in the second half of this year. AGENCIES

Murder trial over 2014 downing of Malaysia Airlines flight starts in Netherlands AMSTERDAM AGENCIES

Four men accused of murder over the downing of Malaysia Airlines flight MH17 in 2014 went on trial in the Netherlands on Monday, with families of the 298 victims calling for justice. The suspects — three Russians and a Ukrainian — were not present in the dock of the high-security court but judges ruled that the hearing could continue in their absence. In a sombre moment, a prosecutor then read out the names of each of the men, women and children who died when the Boeing 777 was torn apart by a Russianmade missile over Ukraine while flying from Amsterdam to Kuala Lumpur. Head judge Hendrik Steenhuis declared the trial open at the court near Schiphol Airport where the flight took off, adding that there had been a “tragic loss of human lives from all around the world” in the “atrocious disaster”. “The court realises the impact of the loss of so many lives and the manner in which they so abruptly ended is barely con-

ceivable,” he said. Silence descended over the courtroom as the victims’ names were read out with some relatives listening with bowed heads, many with their eyes closed, an AFP correspondent in court said. “I think today is of the highest importance,” said Piet Ploeg, head of a foundation for MH17 victims who lost his brother, sister-in-law and nephew on the doomed flight. “This is the first day that we will know what happened, who was responsible, why the plane was shot down, and to questions like what was Russia’s role.” GAPS IN EVIDENCE: Dutch prosecutors last year charged Russian nationals Igor girkin, Sergei Dubinsky, Oleg Pulatov and Ukrainian citizen Leonid Kharchenko over the tragedy. Prosecutors say all four were linked to pro-Russian separatists on whose territory the plane’s wreckage fell near the start of Ukraine’s bitter civil war. They argue the men were instrumental in bringing the BUK missile system to Ukraine from its original base in Russia — even if they did not pull the trigger.

Judges ruled that proceedings could go ahead “in absentia” against girkin, Dubinsky and Kharchenko as Dutch, Russian and Ukrainian authorities had tried to contact them by post and by electronic media. girkin and Dubinsky had also been quoted by media as saying they did not recognise the Dutch court, the judges said. “We assume they have waived their right to be present since they do not value the right to be present,” Steenhuis said. A fourth suspect, Russian national Oleg Pulatov, would be represented by a lawyer but would not be present, the judge added. Russia has long denied any involvement in the downing of MH17, and has offered a series of alternative explanations for the plane’s downing. Moscow again on Friday accused the Netherlands of a “crude attempt to put pressure on the court”. “In the last days before the hearings everything was done to fill the gaps in the evidence presented and to camouflage the falsification of the facts of this version in advance,” Russian foreign ministry spokeswoman Maria Zakharova said. FIND JUSTICE: But Dutch Prime Minister

Mark Rutte said on Friday that the trial was being held in “full independence” and was a “very important step to get to the truth and to find justice for the victims and their relatives”. More than two-thirds of the victims — 196 in total — were Dutch. US Secretary of State Mike Pompeo lent his support on the eve of the trial, saying he had “full confidence” in the Dutch justice system and those responsible “must be held accountable”. girkin, 49, also known by his

pseudonym “Strelkov”, is the most high-profile suspect — a former Russian spy and historical re-enactment fan who helped kickstart the war in Ukraine. Dubinsky, 57, who has also been tied to Russian intelligence, allegedly served as the separatists’ military intelligence chief while Pulatov, 53, was an ex-Russian special forces soldier and one of Dubinsky’s deputies. Kharchenko, 48, allegedly led a separatist unit in eastern Ukraine.

Tuesday, 10 March, 2020

CORPORATE CORNER

ECC AskEd TO fIx whEAT suppORT pRICE AT Rs1,400 ISLAMABAD

KARACHI: Engro Fertilizers CEO Nadir Qureshi was recently presented with the ‘Amir S Chinoy Corporate Excellence Award’ during the 35th Corporate Excellence Awards organised by the Management Association of Pakistan’s (MAP).

ISLAMABAD: CMC President & CEO Syed Jawaid Iqbal receives ‘Presidential Award for Public Relations’ from President Dr Arif Alvi during the 24th Award Distribution Ceremony of All Pakistan Newspapers Society.

GHULAM ABBAS

OLLOwING a parliamentary committee's recommendations to encourage local farmers to grow additional wheat, the government on Monday decided to increase the minimum wheat support price by Rs35 per 40-kilogramme bag. with the new support price, the government will be buying about 8.25 million tonnes of wheat at a fixed price of Rs1,400 per 40kg bag instead of the existing rate of Rs1,365. According to sources, the decision to fix the support price was made dur-

ing a meeting of the wheat Review Committee, which was held with National Food Security & Research Minister Makhdum Khusro Bakhtyar in the chair. Representatives of Pakistan Flour Mills Association (PFMA), Pakistan Agriculture Storage and Services Corporation (PASSCO) and leading wheat exporters were also present on the occasion. The committee expressed satisfaction that there was a sufficient quantity of wheat stock available in the country to meet the needs of the population. It was informed that a stock of 2.235 million tonnes was available in the country (as on March 6th). In light of the above, the committee

decided to recommend the Economic Coordination Committee (ECC) to increase the minimum support price of wheat crop to Rs1,400 for 2019-20. Meanwhile, deliberating on the steps for wheat procurement, the meeting was apprised that Sindh would start wheat procurement process from March 15th, whereas Punjab was expected to initiate the process in April. The committee decided to recommend allowing Khyber Pakhtunkhwa to procure wheat from adjoining districts of Punjab. It asked the provinces and PASSCO to timely procure 8.25 million tonnes of wheat, including 1.80MMT by PASSCO, 4.50MMT by Punjab, 1.40MMT by Sindh, 0.45MMT by KP

ANALYSTS EXPECT A ‘RATE CUT’ AMID INCREASED CONCERNS REGARDING IMPACT OF CORONAVIRUS OUTBREAK ON GLOBAL ECONOMY KARACHI The State Bank of Pakistan's Monetary Policy Committee will meet on Tuesday (March 17) in Karachi to decide the country's monetary policy. The central bank is expected to issue the Monetary Policy Statement through a press release on the same day. The announcement of the monetary policy decision comes at a time when increased concern regarding the Covid-19 coronavirus outbreak was adversely impacting the global economy. The United States Federal Reserve recently cut the policy rate by half a percentage point, to a range of 1-1.25pc. This was the country's first emergency rate cut since 2008. The news has prompted speculation that the SBP may follow suit. Unrelated to the Covid-19’s poten-

tial economic impact, market analysts had previously believed that a cut in the policy rate would happen in 2020. Earlier, a cut was predicted in mid-March, but due to January’s unusually high inflation rate of 14.56pc, a rate cut was expected later in the year, in July or even September. The SBP has maintained that inflation will remain at 11-12pc for the financial year 2020-21. In the last policy announcement on January 28, the SBP maintained the policy rate at 13.25 per cent for the next two months. The SBP had last changed the policy rate on July 16, 2019, to 13.25pc with a rise of 100 basis points. At the time, it cited increased potential inflation owing to a rise in utility costs. The central bank further kept the policy rate unchanged in its reviews on September 16 and November 2 last year.

Cheaper gold in Pakistan to lure foreign buyers KARACHI ARIBA SHAHID

LAHORE: Hotel One and Hero Group have signed a contract for a hotel in Hyderabad. Hotel One Vice President (Operations) Ali Zubair and Hero Group Director Syed Afroz Ali signed the agreement.

LAHORE: An exhibition titled ‘Pakistan Blooms 2020’ was held at a local hotel on Monday.

Gold prices have fallen one per cent due to profit-taking as gold scaled its seven-year high of $1,700 an ounce. This rally is owing to the deeper economic fallout that is underway due to the coronavirus outbreak around the globe. “I expect gold to rise above the $1700 level and may scale to linger near the $1800 level. In terms of the local market, gold is likely to reach Rs100,000 per tola based on the trend in gold prices. However, this may turn out to be an opportunity for Pakistan. Gold will now be under cost by Rs5000 in comparison to UAE, making it the cheapest in Asia,” noted Haji Haroon Rasheed Chand, All Sindh Sarafa Association President. He further commented, “Those days may not be far when international buyers buy gold from Pakistan compared to that

HASSAN NAQVI

The Akro & Excelsior LLC -- a Texasbased company engaged in venture capital investments portfolio management -submitted to the Pakistan Stock Exchange (PSE) on Monday a public announcement of intention to acquire up to 74.15pc shares and control of Mian Textile Industries Limited (MTIL). The Next Capital Limited has been appointed as manager to the offer by the acquirer in accordance with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. ACQUIRER'S INFO: Ali Arif of Akro & Excelsior LLC intends to acquire (16,309,209) shares and 74.15pc of the paid-up capital through agreement and 2,857,495 shares and 12.93pc of the paid-

up capital through public offer. As per details, Arif has rich experience in IT consultancy and project management abroad, specifically in the North American region. He has earned several certifications in network administration (CCENT, CCNA and CCNP) and has worked with leading IT and telecom companies. In 2015, he decided to establish his own business and started the import of textile related goods. Over the course of five years, Arif managed various medium and large-sized consignments from the Asia Pacific region. Arif has vast experience in managing apparel manufacturing as well as production of clothing and accessories from fabricated materials. In 2018, he further diversified his business and initiated trading of pharma and surgical products to the Middle East region.

‘fake news’ for stock market drop

WASHINGTON: US President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified “Fake News,” for a precipitous drop in US stock prices on Monday, amid sliding demand for crude due to the coronavirus. In a series of tweets, Trump also said the associated plunge in oil prices would benefit Americans: “Good for the consumer, gasoline prices coming down!” In referring to “Fake News,” Trump appeared to be referring to coverage of the coronavirus. The spread of the virus around the world – and a mounting death toll from COVID-19, the disease it causes – has rattled global markets. Throughout his presidency, Trump, who faces reelection in November, has frequently pointed to rising stock prices and record-high market indexes as a signal of the American economy’s health. On Monday, major US stock indexes dropped 7pc with the Dow Jones Industrial Average .DJI plummeting 2,000 points after oil prices slumped as much as 22pc. “Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop,” Trump wrote on Twitter. In a separate tweet, he downplayed the impact of the coronavirus, comparing the number of American lives it has taken to the greater number of deaths from seasonal influenza. “Nothing is shut down, life & the economy go on,” he wrote. “Think about that!” AGENCIES

OGRA notifies hike in RLNG prices

period when Pakistanis used to buy gold from abroad.” He attributed this phenomenon to the reduced purchasing power in Pakistan due to inflation and depressed economic sentiments. Spot gold fell 0.6pc to $1,663.35 per ounce by 0553 GMT on Monday, having reached its highest level since December 2012 at $1,702.56 earlier. US gold futures slipped 0.4pc to $1,665.30. Gold prices jumped as much

as 1.7pc earlier on Monday due to underwhelming Chinese trade data and owing to the severity with which coronavirus is spreading. Chinese exports have contracted two months in a row while Italy is on a virtual lockdown with nearly a quarter of its population quarantined. As per analysts, the sell-off in gold is more on the technical side. Traders had set $1,700 as a target price. Once attained, they engaged in profit-taking.

Akro & Excelsior all set to take over Mian Textile Industries LAHORE

and 0.10MMT by Balochistan. The committee also recommended a ban on the supply of wheat to the poultry industry for feeding purposes to maintain sufficient wheat stock for human consumption. It was suggested that the State Bank of Pakistan may be asked to facilitate flour millers for the procurement of wheat. In a presentation given by the metrology department, it was informed that expected inclement weather by the end of March was likely to adversely affect the standing wheat crop, especially in central Punjab. The minister called for launching an awareness campaign so that farmers could take timely measures in this regard. Bakhtiar directed that the Pakistan Standard and Quality Control Authority's standardized wheat bags should be used to reduce the wastage of wheat during transportation. He said that the government was taking effective measures to prevent hoarding of wheat in order to discourage profiteering.

SBP to announce monetary policy on 17th Trump blames oil fight,

MEIRYUM ALI

LAHORE: The Bank of Punjab (BOP), in line with its vision to enable and promote a cash-less digital economy, has entered into an agreement with National Institutional Facilitation Technologies (NIFT) to enable digital payments through NIFT’s DFS platform under the brand name “NIFT ePay”.

BUSINESS 11

Arif is now planning to start a new line of business in dairy sector and intends to set up a facility in Pakistan to manage his textile, pharma and surgical products and dairy businesses. He is the sole member of Akro & Excelsior a private LLC with 100pc ownership.

ABOUT MTIL: Nargis Jehangir is the chairperson of MTIL and Mian Muhammad Jehangir is the CEO of MTIL. As of March 3, 2020, the CEO of MTIL holds the largest number of shares (27.88pc) of MTIL while the chairman holds its 16.13pc shares.

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday notified the revised prices of Re-gasified Liquefied Natural Gas (RLNG) for the current month. According to the notification, there is $0.17 per mmbtu (Million British Thermal Unit) increase in the sale price of imported RLNG on the system of Sui Southern Gas Pipelines Company (SSGC) for the month of March as compared to February. The new price of the RLNG for SSGC system has been fixed at $11.3681 per mmbtu, which was $11.1943 during the last month. Similarly, there is a $0.16 per mmbtu surge in the sale price of imported RLNG on the system of Sui Northern Gas Pipelines Company Limited (SNGPL) for the current month as compared to the corresponding month.The new price of the LNG for SNGPL system has been fixed at $11.3670 per mmbtu, which was $11.1975 in February. APP

Zubair Gilani quits as BOI chairman Board of Investment (BOI) Chairman Zubair Gilani resigned from his post on Monday. The announcement to this effect came through a brief press statement issued by the Prime Minister's Office. Gilani, who was appointed the BOI head with the status of the Minister of State in July 2019 by Prime Minister Imran Khan, had reportedly resigned while citing "personal reasons". His top priorities were to promote local and foreign investment in key sectors to generate employment, boost exports and substitute imports through local production so as to achieve a current account surplus leading to full economic sovereignty. Gilani was also leading the prime minister’s initiative to improve ease-of-doing-business (EODB) in Pakistan through wide-ranging policy and administrative reforms. He is a member of the Advisory Council of the Ministry of Maritime Affairs. Gilani began his professional career in 1989 by joining BCCI and later moved to American Express Bank. He joined Faysal Bank in 1994, where he held senior management positions in corporate and investment banking. BUSINESS DESK

Tuesday, 10 March, 2020

12 BUSINESS

GOvT INdIffERENT TO BuNER’s MARBLE INdusTRy; 80 uNITs CLOsEd PESHAWAR AZIZ BUNERI

dollar gains Rs2.7 in open market Amidst panic triggered by the economic fallout of the global coronavirus outbreak, the US dollar witnessed an appreciation in its value against the Pakistani rupee. According to forex dealers, the greenback appreciated by Rs2.34 to settle at Rs156.58 for the day in the interbank market as compared to previous closing of Rs154.24. A similar trend was witnessed in the open market where the dollar rose by Rs2.70 to trade at Rs157 against the local unit. Meanwhile, the currency lost Rs5.4 to the Pound Sterling as the day's closing quote stood at Rs205.67 per GBP, while the previous session closed at Rs200.27 per GBP. Similarly, PKR's value weakened by Rs4.4 against EUR, which closed at Rs178.3 at interbank. NEWS DESK

ESPITE having tremendous potential, the marble industry of Buner has been facing an acute crisis owing to the ignorance of successive federal and provincial governments. while the industry had braved the decade-old spell of terrorism and militancy in the area, it was now faced other grace issues, including a higher power tariff and dwindling purchasing power of the people. Almost half of the marble industry in Buner faces closure due to lack of attention in the last year or so. These marble units failed to pay electricity bills as well as an additional payment of Rs150,000 (each unit) per month in terms of fuel adjustments and quarterly tariffs. Buner Marble Industry Association Senior Vice President Gul Roz Khan said the marble industry’s problems had increased manifold owing to a rise in electricity prices and declining purchasing power of people. Khan noted there had been a decline in demand due to prevailing uncertainty in the market.

There were 350 factories operating in the district with up to 15 employees per unit, he said, adding that up to 80 factories had been closed across the district in the last one and half years. Khan said more than 20,000 families were dependent on the marble industry. Earlier, the KP government had announced to set up a 'Buner Marble City'. Buner Mining Association President Fazal Rabi said the marble units in Buner were paying Rs230 million in royalty, adding that royalty from mining was Rs60 per tonne and excise duty was Rs5 per tonne on a daily basis. “Buner marble industry not only supplies raw materials to local factories, but also around 300,000 tonnes of marble is supplied to other parts of the province,” he added. According to a Federal Bureau of Revenue (FBR)’s report, there are 160 million tonnes of marble reserves in the country, of which 158 million tonnes are in KP alone, while about half of the marble reserves of KP are in Buner district. Rabi further said the government had formulated a policy to change the method of extraditing minerals from blasting to block cutting through lat-

Cement sector posts cumulative loss of Rs500m in 2QFY20 LAHORE HASSAN NAQVI

IMf calls for 'substantial' stimulus, coordination against virus WASHINGTON AGENCIES

The International Monetary Fund (IMF) called on governments worldwide Monday to join forces and roll out aggressive financial supports for the coronavirus-infected global economy, including steps to help workers and businesses directly. But while several countries have taken steps to cushion the blow to their economies and boost confidence, including the United States, there has been little visible coordination among policymakers like there was at the height of the 2008 global financial crisis. The rising concern about the global economy has been reflected in the continued collapse of global stock markets, with trillions in value wiped out in recent weeks. Given the "acute shocks" caused to economies, consumers and businesses, IMF chief economist Gita Gopinath said "policymakers will need to implement substantial targeted fiscal, monetary and financial market measures to help affected households and businesses." That includes "cash transfers, wage subsidies and tax relief" as well as interest rate cuts and financial market support by central banks. Given the ties between economies globally, "the argument for a coordinated, international response is clear," she said in a blog post.

est technology, which would also help in avoiding mineral waste. "The government needed to provide relief not only to Buner but to all mineral-related investors across the province as at present, the factories owners were facing problems due to 60pc increase in electricity price." According to the KP Economic Zone’s record, 40 units have been closed down in Peshawar; 23 units in the Khattar Industrial Estate; 15 units in the Gadun Amazai Industrial Estate Swabi; and 23 units in Nowshera. Meanwhile, Adviser to KP Chief Minister on Industries Karim Khan said the militancy-affected industries across the province had previously been provided with Rs1 million each with the assistance of international agencies. He added the KP government had allocated Rs100 million in the annual development budget for the purchase of land for the Buner marble city. “The government is taking steps to further improve the industry in the province. The Buner Marble City will not only ease their problems, but will also attract more investment,” Karim Khan added.

Pakistan’s cement sector has posted a cumulative loss of Rs500 million in the second quarter of FY20. Shankar Talreja, a senior analyst at Topline Securities, said that the decline in the sector’s profitability is (i) on the back of lower retention prices (down by 5pc YoY) as gross margins plunged by 17.5ppts YoY to 8.3pc and (ii) due to increase in finance cost by 86pc YoY. However, the sector reduced its losses by more than 75pc QoQ as retention prices stabilized and cost pressure somewhat eased off (primarily due to rupee appreciation), resulting in an improvement in gross margins by 200bps QoQ. “Our working is based on financial result analysis of 15 listed cement manufacturers (out of a total of 18) which represents 99.7pc of total cement companies’ market capitalization. Other companies are in losses/not actively traded.” Talreja said that despite 10pc YoY increase in overall cement volumes during 2QFY20 (1HFY20: 6.5pc YoY), net sales of the sector declined by 10pc

YoY (1HFY20: -10pc YoY) due to lower retention prices amidst stiff competition in the industry over the cement prices in the backdrop of excess supply. He further stated that local volumes witnessed a growth of 6pc YoY during 2QFY20 (1HFY20: 3.5pc YoY), while increasing by 24pc QoQ. He stated that export volumes also improved significantly as they grew by 33pc YoY in 2QFY20 (1HFY20: 23pc YoY), while rising by 17pc QoQ. Talreja noted that despite a reduction in coal

prices by almost 32pc YoY to $68/tonne during 1HFY20, the gross margins of the sector declined to 7.5pc (2QFY20: 8.3pc) vs. 25pc in 1HFY19 (2QFY19: 26pc) due to lower cement prices and higher Rs/$. He stated that the finance cost of the sector increased by a whopping 86pc YoY due to increase in borrowings by 80pc YoY to Rs189bn as of Dec 2019. The senior analyst stated that the start of commercial operations by Lucky Cement Limited (LUCK), Attock Cement Pakistan Ltd (ACPL), Power Cement Limited (POwER), Charat Cement Company Limited (CHCC), Maple Leaf Cement Factory (MLCF) and others during the last 12 months also resulted in expensing the expansion in the finance cost vs. earlier capitalization of the same during the construction phase. He added that increase in outbound freight cost due to implementation of axle load also resulted in higher selling and distribution expenses by 26pc YoY in the 2QFY0 (vs. volumetric growth of 6.5pc). “Given the significant decline in oil prices and an expected decline in inflation, the case of an interest rate cut is getting more stronger,” Talreja said.

Gold imports up 3.61pc in seven months ISLAMABAD APP

The gold imports into the country increased by 3.61 per cent during the first seven months of the current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported gold worth $10.068 million during July-

January FY20 as compared to the imports of $9.717 million during July-January FY19, according to data released by the Pakistan Bureau of Statistics (PBS). In terms of quantity, the country imported 240 kilogrammes of gold during the period under review compared to the imports of 248 kilograms during last year, posting

a decrease of 3.23pc. On a year-onyear basis, the gold imports into the country during January 2020 decreased by 7.13pc when compared to the imports of the same month of last year. Gold imports during the month under review were recorded at $0.899 million against the imports of 0.968 million during January 2019.

The country’s trade deficit witnessed a significant reduction in the first seven months of the current financial year as it shrank by 28.40pc as compared to the corresponding period of last year. During the period under review, the country’s exports registered about 2.14pc growth, whereas imports reduced by 15.95pc.

Russia vs Saudi: How much pain can they take in oil price war? DUBAI/MOSCOW AGENCIES

Oil titans Russia and Saudi Arabia have accumulated vast financial cushions that will help them weather a lengthy price war. It’s a battle of nerves – so who will blink first? Global oil prices crashed by a third after Riyadh discounted its crude and signalled it would raise output. Shares in national oil champions Saudi Aramco and Rosneft tanked. The world’s top two oil exporters each have war chests of around $500 billion to weather economic shocks and are making bullish noises about their stamina as they square up. Moscow said on Monday it could withstand oil prices of $25-$30 per barrel for 610 years. Riyadh, meanwhile, can afford oil at $30 a barrel, but would have to sell more crude to soften the hit to its revenue, according to sources familiar with the matter. A war of attrition would nonetheless be

damaging and force both countries to make difficult adjustments to their economies the longer it dragged on. “As with any war this comes down to how much pain can be absorbed by each side,” said Hasnain Malik, head of equity strategy at Tellimer. MbS OPENS THE TAPS In Saudi Arabia, Crown Prince Mohammed bin Salman gave the green light for the kingdom, the world’s top oil exporter, to pump at will after Russia rejected an OPEC proposal for deeper cuts to cope with the coronavirus outbreak, two sources familiar with the matter said. The Saudi fiscal breakeven – the oil price at which it would balance its budget – is at around $80 a barrel, double that of Russia, said Malik at Tellimer. Saudi Arabia enjoys foreign reserves of $500 billion and a low debt-to-GDP ratio of 25pc that gives it ample room to borrow. Saudi Arabia has raised over $100 billion in hard-currency debt since 2016 to off-

set the impact of lower oil prices. International bonds issued by the government and its oil giant Aramco plunged in early trade on Monday, and the Saudi riyal fell sharply against the US dollar in the forwards market. Still, low global interest rates and a recent further cut by the US Federal Reserve mean that despite market volatility borrowers could tap debt investors relatively cheaply. The problem for Riyadh is that sustained low oil prices could likely constrain government spending on projects that are part of the crown prince’s drive to diversify the economy. Monica Malik, chief economist at Abu Dhabi Commercial Bank, said that with oil prices in the low $30s, Saudi Arabia would post a double-digit deficit as percentage of GDP this year – up from Riyadh’s own 6.4pc budget deficit projection. ‘TREASURE CHEST’: Under President Vladimir Putin, Russia has amassed reserves of $570 billion and the rouble has become

free-floating, allowing it to swiftly adjust to market conditions and devalue. Russia, say analysts, is much better placed to withstand an economic shock than it was in 2014 when the west imposed sanctions over its annexation of Ukraine’s Crimea, or than in 2008 when it was buffeted by the global financial crisis. “Many people criticised us, they said this is a kind of treasure chest, that the finance ministry is sitting on gold,” Finance Minister Anton Siluanov said last week about the reserves. “But now the situation could change and we will finance all the expenses we have undertaken and are obliged to make with this treasure chest.” The $570 billion reserves includes the country’s National wealth Fund, which stands at $150.1 billion or 9.2pc of Russia’s GDP. The finance ministry said on Monday the fund could be used to offset lower oil revenues if necessary. The central bank meanwhile said it was

suspending foreign currency purchases for 30 days in an attempt to ease downside pressure on the rouble and would take market conditions into account when deciding whether to go ahead with future Russian rouble OFZ government bond auctions. Still, the rouble crashed to its weakest level since early 2016 on the interbank market and shares in Russian companies fell sharply in London with oil giants Rosneft and Lukoil down 20.4% and 18.5 percent respectively (ROSNq.L) (LKOHyq.L). Oleg Vyugin, head of Moscow Exchange’s Supervisory Board, said Russia would face higher inflation and interest rates as a result of the price war. Chris weafer, director at Macro-Advisory consultancy, said it was still possible Moscow could decide to return to cooperating with OPEC by autumn if prices remained very low. “Putin will be reluctant to run down financial reserves too far to fund an expanding deficit,” he added.

07-10 Foreign News-10st March 2020:Layout 1 3/9/2020 11:08 PM Page 1

Tuesday, 10 March, 2020

FOREIGN NEWS 07

ErdogaN holdS BruSSElS TalKS aS Eu mullS TaKiNg iN child rEfugEES BRUSSELS

AGENCIES

IgRATION crisis talks were set to be held between Turkish President Recep Tayyip Erdogan and senior EU officials in Brussels on Monday, as germany said the bloc was considering taking in 1,500 child refugees. Tens of thousands of asylum-seekers have been trying to break through the land border from Turkey for a week after Ankara announced it would no longer prevent people from trying to cross into the European Union. Turkey, which hosts around four million mostly Syrian refugees, has repeatedly railed against what it describes as unfair burden-sharing. Erdogan called on greece to “open the gates” to the migrants after greek police used tear gas and water cannon in skirmishes with crowds at the border. “I hope I will return from Belgium with different outcomes,” he said at a speech in Istanbul on Sunday as he announced the meeting. “Hey greece! I appeal to you… open the gates as well and be free of this burden,” he said, adding: “Let them go to other European countries.” Early on Monday, germany said the EU was considering taking in up to 1,500

migrant children who are currently housed in greek camps. “A humanitarian solution is being negotiated at the European level for a ‘coalition of the willing’ to take in these children,” the government said in a statement. Berlin was ready to take in an “appropriate” share, it added, saying the country wanted to support greece in the “difficult” situation it is facing. Concern over the plight of the minors have grown as they either require urgent medical treatment or are unaccompanied by adults. On Friday, Erdogan ordered the Turkish coastguard to prevent risky Aegean sea cross-

ings after more than 1,700 migrants landed on Lesbos and four other Aegean islands from Turkey over the past week. The coastguard, however, said Turkey’s policy of allowing migrants and refugees to leave by land was untouched, and the instruction only affected sea crossings. AID AGREEMENT: The Turkish president will meet European Council President Charles Michel and European Commission President Ursula von der Leyen at 6pm (1700 gMT) on Monday. They will “discuss EU-Turkey matters, including migration, security, stability

in the region and the crisis in Syria,” Michel’s spokesman said on Twitter. In 2016, Turkey and the EU agreed a deal whereby Brussels would provide billions of euros in aid in exchange for Turkish authorities curbing the flow of migrants. But Ankara has repeatedly accused the bloc of not fulfilling promises that were made while Europe suffered its worst refugee crisis since the Second World War. Over a million people fled to the continent in 2015. Erdogan’s top press aide has said one of the unmet conditions was that the EU would take in refugees from Turkey. EU foreign policy chief Josep Borrell and Michel met Erdogan in Ankara on Wednesday as Turkey demanded greater support over the conflict and migrants. After the talks, Borrell promised an additional 170 million euros ($192 million) in aid for vulnerable groups in Syria. Erdogan has felt extra pressure as nearly a million people in Syria’s northwestern province of Idlib fled towards the Turkish border during the recent Syrian regime assault backed by Russia and Iran. But the president and his Russian counterpart Vladimir Putin agreed a ceasefire on Thursday after Turkey launched an offensive against Damascus following the deaths of 59 Turkish security personnel in attacks blamed on the regime.

Sudan’s prime minister survives assassination attempt in Khartoum KHARTOUM

North Korea fires multiple projectiles: South's military PYONGYANG: Nuclear-armed North Korea on Monday fired what Japan said appeared to be ballistic missiles, a week after a similar weapons test by Pyongyang. Analysts say the North has been continuing to refine its weapons capabilities during its long-stalled nuclear discussions with the US, which have been at a standstill since the collapse of the Hanoi summit between leader Kim Jong Un and President Donald Trump more than a year ago. The North “appeared to have carried out joint firing drills involving various types of multiple rocket launchers”, the South’s Joint Chiefs of Staff said, expressing “strong regret” over Pyongyang’s actions. Initially they said three projectiles were involved, before changing the description to “multiple”. The devices were fired northeastwards into the sea from South Hamgyong province and flew 200 kilometres (124 miles) at a maximum altitude of 50 kilometres, the JCS said. That was slightly shorter but also slightly higher than last Monday’s firing. A Japanese defence ministry spokesman said North Korea had launched what appeared to be “ballistic missile(s)” — which it is banned from doing under UN Security Council resolutions. Japanese Prime Minister Shinzo Abe told parliament: “Repeated launches of items such as ballistic missiles have been a serious issue for the international community, including our country. In an emergency meeting, South Korea’s security ministers said the North’s continued firing drills were “not helpful” to efforts for lasting peace on the Korean peninsula. AGENCIES

TEHRAN: At least 27 people died from methanol poisoning in Iran after rumours that drinking alcohol can help cure the novel coronavirus infection, state news agency IRNA reported on Monday. The outbreak of the virus in the country is one of the deadliest outside of China, where the disease originated. At least 20 have died in the southwestern province of Khuzestan and seven in the northern region of Alborz after consuming bootleg alcohol, IRNA said. Drinking alcohol is banned in Iran for everyone except some non-Muslim religious minorities. Local media regularly report on lethal cases of poisoning caused by bootleg liquor. A spokesman for Jundishapur Medical University in Ahvaz, the capital of Khuzestan, said 218 people had been hospitalised after being poisoned. The poisonings were caused by “rumours that drinking alcohol can be effective in treating coronavirus,” Ali Ehsanpour said. The deputy prosecutor of Alborz, Mohammad Aghayari, told IRNA the dead had drunk methanol after being “misled by content online, thinking they were fighting coronavirus and curing it.” If ingested in large quantities, methanol can cause blindness, liver damage and death. Iran has been scrambling to contain the spread of the COVID-19 illness which has hit all of the country’s 31 provinces, killing 237 people, and infecting 7,161. According to IRNA, 16 out of 69 confirmed cases have died of coronavirus infection in Khuzestan as of Sunday. AGENCIES

Twitter labels video retweeted by Trump as 'manipulated'

AGENCIES

Sudan’s Prime Minister Abdalla Hamdok survived an assassination attempt early on Monday targeting his convoy in the capital Khartoum, state television and a cabinet source said. Hamdok, who was appointed to head a transitional government after the overthrow last year of long-time president Omar al-Bashir, was well and had been moved to a safe location, state media reported. The attack came as Hamdok’s government is struggling to manage a severe economic crisis that triggered months of protests against Bashir, and continued after his downfall. Images broadcast on regional TV channels and social media showed a convoy including several damaged white SUVs and a badly damaged car. Three witnesses told Reuters the attack happened near the northern entrance to Kober bridge, which connects Khartoum North with the city centre, where Hamdok’s office is. The convoy appeared to have been targeted from above, they said. State radio said the convoy had been hit by gunfire and a projectile, while state TV said it had been targeted by a car bomb. “I saw the moment of the explosion and the strike, and the strike came from a high building,” one eyewitness said. Large crowds of onlookers gathered as police tried to secure the site. Hamdok leads a government of technocrats under a power-sharing

Bootleg booze kills 27 in iran after virus 'cure' rumours

agreement between the military and civilian groups for a transitional period due to last until late 2022. Relations between civilians and the military have been tense, and the government has come up against resistance as it tries to implement economic reforms. Transitional authorities are also taking steps to disempower Bashir’s supporters, including parts of the security services. In mid-January, armed security agents linked to Bashir fought soldiers in Khartoum for several hours, after a dispute linked to severance packages. Soon after Bashir’s ousting, authorities said they had thwarted several coup attempts by military officers. “The attempted assassination of

Prime Minister Abdalla Hamdok is the new episode in a series of coup plots against the revolution,” Khalid Omer, a leading member of the civilian coalition that backed last year’s uprising, said on Twitter. Hamdok is an economist and former senior UN official who is well connected with the international community. Thousands of anti-military protesters have held demonstrations in recent weeks to support Hamdok and his government. After Monday’s attack the Sudanese Professionals Association (SPA), which spearheaded the antiBashir movement, called for further demonstrations to show unity and support for civilian rule.

SAN FRANCISCO: Twitter has used a new policy to identify misleading content for the first time on a post retweeted by US President Donald Trump that appeared to show Democratic Party rival Joe Biden endorsing his re-election. The social media platform has struggled with removing deceptive and abusive content in the past, but has also faced accusations its curbs have suppressed some political views. Last week it announced moderators would begin flagging media that had been “deceptively altered or manipulated,” the same day it announced an expansion of a ban on hate speech. A clip posted by White House social media director Dan Scavino appeared to show Biden telling a crowd: “We can only re-elect Donald Trump.” The footage was later retweeted by Trump and had been viewed nearly six million times by Monday. But the video cropped the end of Biden’s sentence — made during a recent campaign speech Missouri state — where he was discussing the need for party unity in the wake of a bruising primary contest. “We can only re-elect Donald Trump if in fact we get engaged in this circular firing squad here,” Biden had said. Twitter appended a label to the video describing it as “manipulated media,” prompting a denial from Scavino in a later tweet on Monday. The platform last month suspended dozens of accounts for spam-like posts supporting former Democratic presidential hopeful Michael Bloomberg, whose campaign hired hundreds of people to promote him on social media. AGENCIES

Indian state ordered to remove billboards revealing anti-government protesters' personal infomation NEW DELHI AGENCIES

The top court in India’s most populous state ordered authorities on Monday to remove large displays of the names, pictures and addresses of dozens of anti-government protesters, amid fears that they encourage attacks by vigilante mobs. The government of Uttar Pradesh had put up six hoardings last week in prominent places in Lucknow, the state capital, identifying people it says joined in violent protests against a new citizenship law based on religion. Allahabad High Court in Uttar Pradesh ordered the state government to remove the posters by March 16, saying they were “an unwarranted interference in the privacy of people”. The state government, run by an ally of India’s Hindu nationalist Prime Minister Narendra Modi, will

comply with the court order but is considering its “legal options”, the chief minister’s top adviser, Mrityunjay Kumar, said. The state government accused the 57 people depicted in the posters of rioting in December, though none has been convicted of any crime. Those depicted accuse the authorities of trying to “name and shame” the protesters. Hundreds of thousands of people have held demonstrations across India since late last year to protest against the citizenship law, which they say discriminates against Muslims. Modi’s ruling Bharatiya Janata Party says the law is required to protect non-Muslim refugees across South Asia. ENDANGERING LIVES: Criticising the posters, Sadaf Jafar, the only woman to appear in them, told Reuters: “The action by the police and administration has made our lives more vulnerable. How will we feel secure in our city?”

Jafar said she was considering taking legal action against the government. While it was not possible to verify the religion of those featured in the posters, the majority had names commonly used by India’s minority Muslim population. The actions of the government are “totally illegal”, said S.R. Darapuri, a former police officer who also appeared on the billboards for supporting the protests. “We are not absconders or hardcore criminals,” he said. “The government by this act has put our lives in danger.” The adviser, Kumar, has previously defended the billboards, saying they are an attempt to recover damages from those accused and insisting on their legality. India’s demonstrations have spurred clashes between protesters and police, some along sectarian lines, in which more than 70 people have died, a majority in last month’s bloodletting between Hindus and Muslims in the capital Delhi.

One last event befOre Harry and MegHan bOw Out

LONDON

AGENCIES

rince Harry and his wife Meghan will make their last official appearance as senior royals on Monday, joining Queen elizabeth ii for an event in London before they set off on their own. The Duke and Duchess of Sussex will join other members of the royal family at a commonwealth Day ceremony at Westminster Abbey. it is their final public engagement before they step back from their roles at the end of March, no longer representing the queen and pursuing a new,

financially independent life based in canada. Harry and Meghan rocked the monarchy with their bombshell announcement in January that they wanted to break free from the constraints of royalty. They complained about media intrusion, a long-running issue for Harry, who watched how photographers pursued his mother Diana until her death in a Paris car crash in 1997. Their decision to leave prompted anger and dismay among many royal fans in Britain, but both Harry and Meghan received a warm welcome in their final flurry of engagements. The couple received a standing

ovation as they took their seats at an evening of military band music at London’s royal Albert Hall on Saturday. And Meghan drew shrieks of delight from school children in Dagenham, east of London, when she made an unannounced visit on Friday. “She really is beautiful, innit?” head boy Aker Okoye, 16, told the audience after the duchess asked him up on stage. in a visit to mark international Women’s Day, Meghan paid tribute to the women whose strike at the nearby Ford Motor Plant in 1968 helped pave the way for the 1970 equal Pay Act. “no matter what colour you are,

no matter what gender you are, you have a voice and you certainly have the right to speak up for what is right,” she told the children. ALWAYS SERVING: Harry is the youngest son of the queen’s heir, Prince charles, and the 35-year-old will remain sixth in line to the throne. But from the end of this month, he and his wife will no longer use the “royal Highness” style or use public funds, except for their security. The couple had previously spoken about their struggle with limelight since their fairytale wedding in May 2018, and the birth of their first child Archie the following year. Harry has also complained about “racial undertones” in coverage of his wife, a US mixed-race actress, and the couple have launched several actions against British newspapers. At one of his final events last week, with injured military veterans, the prince expressed his pride at serving the monarch. “Once served, always serving!” Harry, a former soldier who served two tours in Afghanistan, told the audience at the endeavour Fund. He will no longer perform any duties associated with his military appointments, but said that he would always support the armed services. “A lot of you tonight have told me you have my back, well i’m also here to tell you, i’ve always got yours,” he said. But both he and Meghan will keep their personal patronages, and his military posts will not be filled for a year. The queen and the couple have agreed to renew the new arrangements in 12 months time, giving them a route back to royal life. The monarch, 93, told Harry during lunch last week that they would always be welcome, The Sun reported.

Africa and Asia are home to nearly 90 percent of the world's rural population.

There are only three countries in the world that don't use the metric system.

There are more than 24 time zones around the world.

Karachi Kings Team met cancer patients at Shaukat Khanum Hospital, Lahore Players dedicated their performance to the cancer patients at SKMCH&RC Management and players of Karachi Kings visit Shaukat Khanum Memorial cancer Hospital and research centre (SKMcH&rc) the last evening. The visitors included Babar Azam, Mohammad rizwan, Awais Zia, iftikhar Ahmed, Sharjeel Khan,

Mohammad Amir, Sohail Khan, Usama Mir, Aamer Yamin and captain imad Wasim. Karachi Kings president, legendary fast bowler Wasim Akram also showed presence along with the team’s owner, Salman iqbal. The management of the hospi-

tal conducted the vivacious ceremony to welcome the players. The cancer survivors’ children performed on the Karachi Kings anthem which was highly praised by both the players and guests. The purpose of the visit to the hospital was to give an opportu-

nity to the cancer patients to spend quality time with their favorite players. every player present on the stage was accompanied by a paediatric cancer patient and each of the players announced their performance in PSL to be dedicated to the kid standing next to them. Tariq Azam, Director Marketing of SKMcH&rc thanked

the team while stating that their presence fulfilled the dream of cancer patients to meet their favorite players. narrating his attachment with the Hospital legendry fast bowler Wasim Akram said that “my relation with SKMcH&rc is that old since the hospital was under construction and still now i keep contributing my best possible

role for patients of the hospital.” Apart from medicines and the latest technology, play therapy also holds great importance for the treatment of cancer patients. Therefore, SKMcH&rc organizes such programs especially for the children under treatment to help them forget their pain and become resilient and high-spirited to defeat cancer. pr

Tuesday, 10 March, 2020

14 SPORTS

ViruS feArS puSh pSG-DortmunD ChAmpionS LeAGue CLASh BehinD CLoSeD DoorS Paris

Agencies

ARIS Saint-Germain's Champions League last 16 second leg at home to German club Borussia Dortmund on Wednesday will be played behind closed doors because of the coronavirus outbreak, Paris police said on Monday. The decision comes after the French government on Sunday announced measures to cope with the spread of the virus, including banning all gatherings of more than 1,000 people. France has so far seen almost 1,200 confirmed cases of COVID19 and 21 deaths. "In accordance with the measures announced...last night, the police chief has decided that the match...will be played behind closed doors," said Paris police in a statement late on Monday morning. PSG, who would have expected a full house of more than 45,000 fans at the Parc des Princes for the game, issued a statement of their own, saying: "In this context, the club remains fully mobilised to organise the match in the best possible conditions." The announcement was closely followed by the postponement of the Six

Nations rugby match between France and Ireland scheduled for Saturday in Paris. They are the most high profile sporting events in France to be hit by the coronavirus outbreak. France's sports minister, Roxana Maracineanu, said that the final matches of an ongoing four-team women's international football tournament involving France, the Netherlands, Brazil and Canada will also be played behind closed doors on Tuesday. According to the French Football Federation, 12,000 tickets have

Banned swimmer Sun's Australian coach cuts ties

been sold for the game between France and the Netherlands in the northern town of Valenciennes. Elsewhere, this week's Paris-Nice cycling race is going ahead, but no spectators will be allowed at the start and finish lines for the remaining stages. "This is an exceptional situation," Maracineanu said at a press conference. "What I advise is that sports events continue to take place." Maracineanu said that the ban on gatherings of more than 1,000 people would also be applied to the France men's foot-

ball team's scheduled games against Ukraine in Paris on March 27 and Finland in Lyon on March 31. "If they can be postponed, they possibly will be postponed, otherwise they will have to respect the limit of 1,000," Maracineanu said at a press conference. PSG had already had their Ligue 1 match at Strasbourg on Saturday postponed due to the extent of the outbreak in the Alsace region of eastern France. The state of North Rhine Westphalia, where Dortmund is situated, has been the worst hit in Germany, with close to 500 confirmed infections, according to official data. "We were prepared for this eventuality and have made the appropriate preparations," Dortmund said in a statement. Dortmund won the first leg of their tie 2-1 at home last month, leaving PSG requiring a second-leg comeback to avoid a fourth straight exit in the first knockout round of the Champions League. Tuesday's Champions League clash between Valencia and Italian side Atalanta in Spain will also be played behind closed doors, with the visitors travelling from Bergamo in the Lombardy region which is amongst the worst hit parts of Italy by the virus.

African players in Europe: Salah, Mane rescue Liverpool

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anfield

Agencies

Disgraced Chinese swimmer Sun Yang's veteran coach Denis Cotterell has severed all ties with the three-time Olympic champion after his eight-year drug ban, Australian media reported. Australian Cotterell, regarded as one of the world's top coaches, had worked with the freestyle specialist since the 2008 Beijing Olympics and long maintained Sun was clean. But after the Court of Arbitration for Sport (CAS) banned Sun last month for refusing to give a doping sample in September 2018, Cotterell said he was now "retired". "I have terminated my contract with (the) Chinese Swimming Association," he told the Sydney Daily Telegraph on Sunday. Sun insists he is innocent and is to appeal, with his lawyer reasserting his defence that doping officials who came to his home were not qualified or authorised, and it was they who decided not to pursue testing. Asked if he supported Yang's appeal, Cotterell replied: "No." It was the 28-year-old's second ban for doping, having served three months in 2014. Nevertheless, Cotterell told AFP at the world championships in South Korea last year: "He's not a drug cheat. "You can't have the performances he's had over the years without doing the work. He's been tested year in, year out -hundreds of tests, winning every year over this period of 10 years."

Mohamed Salah and Sadio Mane were the African stars in Europe at the weekend, with both scoring as Premier League leaders Liverpool snapped a mini all-competitions slump by beating Bournemouth 2-1 at Anfield. Reigning African Footballer of the Year Mane netted the winner after Salah cancelled out an early opener for the relegation-threatened visitors. In Germany, Moroccan Achraf Hakimi grabbed the decisive goal for Bundesliga title challengers Borussia Dortmund in a 2-1 victory over Borussia Moenchengladbach. ENGLAND SADIO MANE/MOHAMED SALAH (Liverpool): Mane and Salah got Liverpool back to winning ways with both on target in a 2-1 win over Bournemouth. Egyptian Salah marked his 100th Premier League game for the Reds with his 70th goal courtesy of a trademark low left-foot finish from Mane's pass. The Senegalese then calmly slotted home his 18th goal of the season to move Liverpool to within six points of the title. JORDAN AYEW

(Crystal Palace) Ayew's blistering strike from outside the area earned Palace a 1-0 win over Watford and ensured the Ghana international his best goal tally for a Premier League season with eight. GERMANY: ACHRAF HAKIMI (Borussia Dortmund) Hakimi was crucial for Borussia Dortmund against Borussia Moenchengladbach, scoring the winner in a 2-1 victory that kept his side in touch with Bundesliga leaders Bayern Munich. He was in the right place

at the right time to collect Jadon Sancho's assist and guide the ball past Yann Sommer in the 71st minute. It was his third Bundesliga goal of the season as Dortmund moved within four points of Bayern. AMINE HARIT (Schalke) Harit came off the bench in Schalke's 1-1 home draw against Hoffenheim as the Royal Blues went for a killer blow. While his speed was noticeable against a tiring Hoffenheim defence, he was unable to add to his six goals or four assists this season.

Are Man Utd finally on their way back to the top? mancHester Agencies

Manchester United have had a rocky ride under Ole Gunnar Solskjaer but there are signs that they could finally be turning the corner after completing a memorable league double over Manchester City. The Norwegian appeared to be bringing the good times back to Old Trafford when he took over from Jose Mourinho last season but their stunning run of results proved a false dawn. This season has also been a difficult one for United, who are a scarcely credible 37 points behind their historical rivals Liverpool in the Premier League. There have been high points, including an opening-day thumping of Chelsea and a 2-1 away win at the Etihad but some desperate lows, with defeats against West Ham, Bournemouth and Watford. But there are genuine signs of recovery under Solskjaer, with United now unbeaten in 10 games in all competitions and at last playing with purpose and style, illustrated by the 2-0 home victory against City on Sunday. Bruno Fernandes, who arrived in

January, has slotted in straight away, bringing swagger, leadership and desperately needed creativity to a ponderous and flat midfield. Solskjaer said after Sunday's win that the Portugal international had energised the whole club and had brought an "X-factor" to United. Defensively the team has tightened up, conceding just two goals in their 10-match unbeaten run. Harry Maguire is proving a leader at the back and Aaron Wan-Bissaka shone against City. United are now fifth in the Premier League, which could be good enough to qualify for the Champions League next season, depending on the outcome of City's appeal against their ban from European football. FAN BOND: Solskjaer focused on the growing bond between his players and the fans after they completed a first derby double over City for 10 years at a pulsating Old Trafford. ."The desire, attitude, commitment, the connection between fans and players," said Solskjaer. "What a day they've had today. "It's a derby. The fans love it, the players love it. You can say it's only three points, but to beat a team like Manchester City with the problems

we've had is fantastic." United have the chance to end the season on a high. They are just three points behind fourth-placed Chelsea in the Premier League and only five behind Leicester, in third. They have a favourable draw against Austrian side LASK in the last 16 of the Europa League and travel to struggling Norwich in the FA Cup quarter-finals. They are a long way from their domination under the leadership of Alex Ferguson and their season could yet disintegrate -- but there are a number of reasons for optimism. United finally appear to have got a grip on their transfer policy after some high-profile errors. Fernandes has been the standout story but Maguire, Wan-Bissaka and Daniel James have impressed since their arrival in the summer. Even lastminute January signing Odion Ighalo, who arrived on loan from Shanghai Shenhua, has hit the ground running, scoring three times so far.United's inhouse talent factory is also bearing fruit. Mason Greenwood has 11 goals this season and fellow teenager Brandon Williams has impressed in his multiple first-team outings.

Spurs need to 'write new stories', says Lloris amsterdam Agencies

Hugo Lloris has challenged Tottenham to "write new stories" in the Champions League, even though they will take the positives from last season's sensational comeback against Ajax in the semi-final. Spurs looked to be sunk when trailing 3-0 on aggregate in the second leg of the tie last May but Lucas Moura's second-half hat-trick in Amsterdam saw them knock out the Dutch giants in dramatic circumstances. Spurs, then under the leadership of Mauricio Pochettino, lost 2-0 in the final to Liverpool in Madrid. Tottenham need another memorable away day if they are to progress further than the last-16 in this campaign, with Timo Werner's penalty handing Bundesliga high-flyers RB Leipzig a 1-0 win in north London last month. "We have to take everything positive but I think it belongs to the past, we need to write new stories," said goalkeeper and captain Lloris, referring to the Ajax match. "We have to go there and be ready to make the perfect game, we have to go there to win the game. It is as simple as that. "But the opponent is a very, very good team. I'm not surprised that they are fighting for the title in the Bundesliga." While Leipzig have their sights trained on domestic glory, Tottenham will be merely content to book their spot in Europe's elite club competition next term. A 1-1 draw at Burnley on Saturday left them eighth in the Premier League table and facing an uphill battle to finish in the top four. "I don't know what's going to happen for the rest of the season but we need to keep faith and keep working," said Lloris. "We can see players are fighting and giving their best. The confidence is not up there but we are working for that and we are working to finish the season as high as we can."

Tuesday, 10 March, 2020

SPORTS 15

pm inAuGurAteS Kp u-21 GAmeS At QAyyum SportS CompLex peShAwAr

HBL PSL tODAY’S MAtcH vS 7:00 PM peShAwAr zALmi

LAHOrE

LAhore QALAnDArS

mahmudullah, mustafizur rahman given white-ball-only contracts

Sri Lanka names 16-man squad for england test series

colombo

PesHawar

APP

RIME Minister Imran Khan said on Monday that if he was not a player than he would have resigned after a year and a half of assuming the charge of prime ministership. PM Imran addressed a gathering of more than 2,940 players from across the province, and formally inaugurated the Khyber

Pakhtunkhwa U-21 games at Qayyum Sports Complex Peshawar. “Life is a traverse of ups and downs” a person who regains position after falling down acquires more strength,” he said, adding that he had learnt to fight against critical times during sports. “Life is a name of competition there’re competitions in studies and businesses. Politics is also a name of competition but a champion is not afraid of losing

but gains experience.” “A person loses only when he accepts defeat a champion corrects his mistakes upon losing.” The premier congratulated KP Chief Minister Mahmood Khan for organising the games by stating “the event will unfold new talent.” “I want to advise youths (to understand) the importance of sports sports must be promoted at the village-level,” he said. The players are participating in 30 different games.

Agencies

Sri Lanka Monday named a 16-member squad, including two injured players, for the two-match Test series against England starting next week. Sri Lanka Cricket said Kusal Perera was included in the squad even though the injury-hit wicketkeeper may only be fit to play in about two weeks. Another injured player, Wanidu Hasaranga, was also included in the squad despite never having played at that level before. A replacement for Hasaranga will be named before the first Test against England on March 19 in Galle, the board said. The second Test is due to start on March 27 in Colombo. Sri Lanka squad: Dimuth Karunaratne (captain), Oshada Fernando, Kusal Mendis, Angelo Mathews, Dinesh Chandimal, Kusal Perera, Dhananjaya de Silva, Niroshan Dickwella, Suranga Lakmal, Lahiru Kumara, Vishwa Fernando, Kasun Rajitha, Dilruwan Perera, Lasith Embuldeniya, Lakshan Sandakan and Wanindu .

Australia's cricketers stick with handshakes despite virus threat melbourne Agencies

Australia's cricketers will continue to shake hands, coach Justin Langer said Monday, despite England enforcing a strict fist-bump only policy to prevent spread of the coronavirus. COVID-19 has claimed the lives of three Australians, with the global outbreak forcing a host of

sporting fixtures around the world to be cancelled or played behind closed doors. Australia's three-game oneday series against New Zealand begins Friday and Langer said there were no plans to change how the team interacts in the dressing room or on the field. "No, we'll keep shaking hands... there's plenty of hand sanitiser in the Australian kits," he told cricket.com.au Monday following the team's 3-0 series loss in South Africa. "I'm sure we'll just keep shaking hands and move on from that," he added. England captain Joe Root last week said his players would be talking sensible precautions on their tour of Sri Lanka. "We are not shaking hands with each other, using instead the well-established fist bump, and we are washing hands regularly and wiping down surfaces using the anti-bacterial wipes and gels we've been given in our immunity packs," he said.

dHaka Agencies

Following their axing from the Bangladesh Test side, Mahmudullah and Mustafizur Rahman have been included only in the white-ball players' list in the latest BCB central contracts (Jan to Dec 2020), which for the first time have players separated according to formats. Mashrafe Mortaza, who has stepped down as ODI captain - but hasn't announced his retirement as a player - and Shakib Al Hasan, who is serving a one-year ICC ban, have not been included in the contracts. Apart from Mahmudullah and Rahman, three others were given white-ball-only contracts: Mohammad Saifuddin and newcomers Afif Hossain and Mohammad Naim. Tamim Iqbal, Mushfiqur Rahim, Liton Das, Najmul Hossain Shanto, Mohammad Mithun, Taijul Islam and Mehidy Hasan earned themselves full contracts, for red- and white-ball cricket, while Mominul Haque, Nayeem Hasan, Abu Jayed and Ebadot Hossain got red-ballonly contracts. As such, players will be further divided according to categories - A, B, C and D - but the BCB hasn't furnished the details of that yet. Players in Category A stand to earn a little over BDT 600,000 (US$ 7500 approx.) per month, while the players in Category D will get BDT 100,000 (US$ 1250 approx.) per month, with B and C players figuring in between. As reported by ESPNcricinfo, the BCB has raised match fees for all three formats earlier this year.

Bubble-blowing Ben Dunk a big hit in PSL's fifth season laHore APP

A bubble-blowing, bald Australian batsman has become an instant hit in the Pakistan Super League (PSL) 2020 edition. Ben Dunk broke his own record of most sixes in a PSL game within a week when he smashed 12 towering sixes against Karachi Kings in an unbeaten 99 off just 40 balls on Sunday night. The blistering knock earned Lahore a resounding eight-wicket win with five balls to spare as the home team raced to 190-2. Dunk went agonisingly close to a century last Tuesday too, when he smashed 10 sixes against defending champions Quetta Gladiators in a match-winning knock of 93 not out. "I think no one realistically will remember whether it was 100 or 99 not outs," Dunk, who will turn 33 on Wednesday, said. "Most people who came tonight remember that we won the game and I think that's something that I've always prided myself on and we're right back in the tournament again."And every time Dunk has struck big, the powerful left-hander has celebrated it by blowing a bubble to the great delight of his franchise Lahore Qalandars' fans at the Gaddafi Stadium. "No special things in it, I'm just trying to stay calm in the middle, really," Dunk said of his celebration. "It's sort of a little idiosyncrasy, I guess, that I do and probably a bad habit that I should probably stop. But I just try and do it to keep me calm and keep my mind on the task at hand." Dunk's exploits with the bat have changed Lahore's fortunes. With three league games still in hand, Lahore could make it to the playoffs for the first time in five years after finishing at the bottom of the standings in the previous four

editions of the tournament. Dunk's ferocious hitting had left bowlers clueless in the PSL. No matter at what length a spinner or a fast bowler has bowled, Dunk has dispatched it over the boundary with apparent ease on both sides of the wicket. Be it experienced left-arm fast bowler Mohammad Amir or Pakistan's No. 1 choice Twenty20 left-arm spinner Imad Wasim, both got punished by Dunk on Sunday. But Dunk, a journeyman who has played in T20 leagues in four countries, believes he's one of the lucky players to be part of the PSL. "There's so many cricketers who want to play in this tournament, both locally here and around the world," Dunk said. "I'm certainly in no position to dictate where I bat ... I'm happy to keep (wickets), happy to bat, happy to bat at 11 and happy to try and bowl if that's what the team needs. I just want to try and do the best that I can for the team." He bowls some right-arm offspin, bats left-handed and takes the gloves behind the stumps. Dunk, who hails from Australia's northern Queensland state, has played five Twenty20 internationals for Australia, making his debut in 2014 against South Africa at Adelaide. Despite his recent form, he doesn't see himself in the plans of coach Justin Langer for this year's Twenty20 World Cup in Australia. "Fortunately enough, in Australia we've got quite a few good players. I would assume JL (Justin Langer) would certainly be following (the PSL), but I would say I am well off the radar."Dunk is also inspired by the big crowds in the PSL both at Lahore and Rawalpindi as the Twenty20 league is being played in its entirety for the first time in Pakistan since it was launched in 2016 in the United Arab Emirates.

CMYK

Tuesday, 10 March, 2020

NEWS

Presidential decree on taliban Prisoners today, Ghani says AFGHAN PRESIDENT SAYS HAS REACHED MECHANISM FOR PRISONER RELEASE AS ELECTION RIVAL ABDULLAH HOLDS PARALLEL OATH-TAKING CEREMONY KaBuL

AGENCIES

mechanism for the release of Taliban prisoners has been reached and a presidential decree will be issued in this regard on Tuesday, Afghan President Ashraf Ghani said on Monday. Ghani’s remarks came after he took an oath as president for another five-year term while, at a distance of a few metres, his electoral rival Abdullah Abdullah also held a parallel oath-taking ceremony. Ghani said in his speech that the government he was forming would not only include members of his political camp though he would continue with the previous cabinet for two weeks. “Then we will form an inclusive

government after consultation,” he said. On March 2, Ghani had said he would not commit to a clause in the US-Taliban deal that called for a massive prisoner exchange, something the militants have been demanding for years. Ghani had committed to continue honouring a partial truce that saw violence plummet in Afghanistan, but he had pushed back against the requirement for the Taliban to release up to 1,000 prisoners and for the Afghan government to release around 5,000 captives by March 10, when talks are supposed to start. Following this, the Taliban had said it will not take part in intra-Afghan talks until about 5,000 of their prisoners are released, presenting a major possible barrier to ending the war.

WaSHington AGENCIES

The number of US coronavirus cases soared past 500 Sunday, including two further deaths, as California braced for the arrival of infected cruise ship passengers and saw a major tennis event cancelled. The surge came as President Donald Trump defended his administration’s “perfectly coordinated” response to the epidemic, after heavy criticism over health cuts and strategic blunders that have failed to stem its rapid spread. Some 30 US states have been hit by the novel coronavirus, with Oregon the latest to declare an emergency, and 60 million people in California and New York are under crisis measures. Two more deaths linked to a virus-hit care home near Seattle were reported Sunday, bringing the nationwide toll to at least 21. A Johns Hopkins tally put the number of confirmed US cases at 554 by Sunday evening, with newly diagnosed patients in states including Pennsylvania, Illinois, Massachusetts, Connecticut and New Jersey. Medical officers headed for a virus-hit cruise ship stranded off San Francisco to begin screening passengers for an “unprecedented and difficult” landing operation. The Grand Princess, with 21 confirmed coronavirus infections among 3,500 people on board, is due to dock in nearby Oakland Monday. The operation to move passengers ashore will take two to three days, said Governor Gavin Newsom. Carolyn Wright, a passenger on the ship, told AFP that people without symptoms were allowed to leave their cabins for the first time since Thursday. Once ashore, ill passengers will be moved to hospitals, while Americans not requiring treatment will be quarantined at military bases in California, Texas and Georgia for 14 days. Foreign passengers will be repatriated, while the crew will remain quarantined onboard. The State Department warned vulnerable people including the elderly “should not travel by cruise ship.” Several public events have been cancelled across the

“If our 5,000 prisoners — 100 or 200 more or less does not matter — do not get released there will be no intra-Afghan talks,” Taliban spokesman Zabihullah Mujahid had told Reuters by phone. Loud explosions and gunfire were heard during today’s inauguration ceremony. Ghani said such explosions and gunfire “cannot deter him from serving the nation”. Ghani was sworn in for a second term on Monday but Abdullah refused to recognise the inauguration and held his own inauguration ceremony as a rival president. Both Ghani and former chief executive Abdullah say they are Afghanistan’s rightful leader following a disputed election last September, a stand-off that threatens political chaos days after the United States and the Taliban signed a deal on the withdrawal of

US-led international forces. On Sunday, the militant group had said peace talks with the Afghan government this week were unlikely to take place because of the oath-taking ceremonies, and had urged the leaders to instead to focus on an end to

US coronavirus cases pass 500 as China signals progress in battle US in an effort to contain the epidemic. The ATP and WTA tennis tournament in Indian Wells was called off on Sunday just days before it was due to begin. CHINA LIKELY TO DEFEAT VIRUS SOON: China closed most of its makeshift hospitals for coronavirus patients, some schools reopened and Disney resort staff went back to work Monday as normality slowly returns to the country after weeks battling the epidemic. New virus cases in China — which accounts for the vast majority of the more than 100,000 infections worldwide — have declined in recent weeks in a sign the country’s unprecedented lockdown measures are working. The improving situation stands in stark contrast with the growing global spread of the disease that has affected scores of countries and prompted some governments to impose their own draconian measures and quarantines. China reported 40 new infections nationwide on Monday — the smallest increase since the country began reporting the data in January. Nearly all the fresh cases and 22 new deaths were in Wuhan, the capital of central Hubei province, which has been under lockdown for weeks. The latest fatalities bring the country’s death toll to 3,119. A senior official hinted last week that China could soon lift the travel restrictions on Hubei, which has effectively kept about 56 million people housebound. Around 19,000 people are still getting treatment for the virus, down from a high of 58,000 on February 24. ITALY LOCKED DOWN: Millions of people in northern Italy were in lockdown as officials struggled to contain the spread of the deadly virus.

The government is attempting to shutter an area home to a quarter of the population — including Milan and Venice — mimicking a lockdown at the disease’s epicentre in China. Tens of millions of people are now in virtual quarantine worldwide but there are fears that the disease will spread further and that disruptions could force several economies into recession. Police will set up controls at train stations and stop all cars on main roads, flights from Milan are being suspended and penalties of three months in jail or a 206 euro ($233) fine will be imposed for flouting the rules. EMBASSIES CLOSE: Several embassies in North Korea closed Monday as many diplomats were flown out following weeks of tight quarantine restrictions imposed by Pyongyang over the spread of the novel coronavirus. North Korea has not confirmed a single infection but has imposed strict rules, including closing its borders and putting thousands of its own people into isolation. It has also subjected hundreds of foreigners — including diplomats — to a virtual lockdown in their own premises. Russian ambassador Alexander Matsegora described the conditions as “morally crushing”. Those restrictions were finally eased last week after more than a month, when more than 200 foreigners were allowed to leave their compounds. Swedish ambassador Joachim Bergstrom tweeted a selfie from the city centre with the caption: “I have never been happier standing on Kim Il Sung Square.” Monday’s evacuation comes after reports that a special flight was being arranged to fly diplomats and other foreigners from Pyongyang to the Russian city of Vladivostok.

the war. “We don’t think they will make it to getting ready for the intra-Afghan talks on March 10, because of […] the disagreement between the politicians that is even leading to two swearing-in ceremonies,” the Taliban spokesperson had said.

PAKISTAN CONFIRMS NINE MORE CORONAVIRUS CASES CORONAVIRUS TOLL REACHES 16 AFTER CONFIRMATION OF NEW CASES

KaraCHi STAFF REPORT

Nine more cases of coronavirus have been confirmed in Karachi, taking the total number of cases across the country to 16. Out of the nine patients, five arrived in the country from Syria via Doha, whereas the other four returned from London via Dubai last week. In a tweet, Special Assistant to Prime Minister on Health Dr Zafar Mirza said, “I can confirm 9 new cases of #COVID19 in Karachi. All these cases are contacts of an already confirmed case. Further contacts are being traced and tested. This makes a total of 16 cases in Pakistan.” Meanwhile, the Sindh Chief Minister Syed Murad Ali Shah has directed all government and private hospitals to share details of patients with symptoms of pneumonia so that their further medical investigations could be conducted to ensure that they have not contracted the mysterious disease.

No more hike in power, gas Pakistan 11th largest arms tariﬀs, PM Imran promises importer in the world: report Continue from Page 01

He reiterated that the extremist ideology would not only target the Muslims but other communities, including Christians, Sikhs and Dalits. PM Imran reiterated that all those who had created artificial inflation by hoarding the food commodities would be punished. He said that the launch of the Kafalat Card in the Mohmand area was in pursuance of the principles of Medina State which took the responsibility of its poor people, including their education, health and employment. Referring to the sacrifices rendered by the people of tribal areas, he said that even they were the main sufferers of the law and order situation in Karachi. He congratulated the chief minister and governor of KP over the merger of tribal areas into KP and election in tribal areas as the elected representatives would highlight their issues at the parliament. He told the gathering the government had selected Mohmand area for developing massive olive orchards to reduce the import bill for olive oil besides producing quality products. Besides, a marble industrial estate would be developed in Mohmand to create job opportunities and all the components of the Ehsaas Programme would be available for the people of Mohmand to uplift them, he added. He also announced that a project for water supply from Mohmand Dam to the area would be ex-

ecuted. He tasked Murad Saeed to ensure the launch of 3G and 4G cellular services in the area. He also expressed his heartfelt wish for lasting peace in war-torn Afghanistan, saying that stability in the neighbouring country would not only bring relief for the Afghan people but also for the residents of Pakistan’s tribal areas. He acknowledged that the opening of the border would also lead to job creation. “Afghan people have been under extreme difficulties for the past 40 years. One war ends and another starts. The Americans came after the Russians left and then there was infighting,” he said. “I hope that this peace accord succeeds as it will benefit the Afghan people as well as residents of our tribal areas,” he added. The prime minister advised the people not to vote for a party with corrupt leaders as the country was not poor because of shortage of resources but due to corrupt rulers. In reference to the Sharif family, without explicitly naming them, the prime minister said that the entire family had fled abroad. He said that after he took up the Panama issue, he had faced multiple cases and six in the Election Commission of Pakistan (ECP) and had produced 40-year contracts and documents in his defence.“Did I flee to London? Neither did I flee nor complained of victimisation. When someone does not commit corruption, he needs not to flee,” he added.

neWS DeSK Pakistan was on Monday ranked the eleventh largest arms importer in the world in a report published by the Stockholm International Peace Research Institute (SIPRI). According to the report, arch-rival India was ranked second on the list. Figures released by SIPRI alongside the report showed that China, Russia and Italy were the main suppliers of arms to Pakistan. Import numbers further highlighted that the actual share of Pakistani imports in total global weapons imports had decreased. According to the Stockholm-based institute, China accounted for 73 per cent of the total arms imports of Pakistan over 2015-2019, with Russia (6.6 per cent) and Italy (6.1 per cent) second and third on the list. The report noted that Pakistan’s share in global arms imports had decreased by 39 per cent in the period. The overall decrease in Pakistan’s arms imports over the latest five-year period was linked to the US decision to stop

military aid to Pakistan. The institute noted that Pakistan was among the top three buyers of arms from top weapons exporters like Italy and Turkey. Pakistan had a 7.5 per cent share in arms imports from Italy between 2015-2019, and 12 per cent share in Turkish arms over the same period. SIPRI also identified a significant drop in arms sales to South Asia by the United States, which was listed as the largest arms exporter in the world between 2015-2019. The institute noted that US arms imports to Pakistan declined by 92 per cent, and to India by 51 per cent over this period. The US, which had accounted for 30 per cent of Pakistan’s arms imports in 2010–14, was responsible for only 4.1 per cent in 2015–19. Meanwhile, Islamabad was identified as the largest buyer of Chinese arms between 2015-2019, accounting for 35 per cent of the arms exported by Beijing — the fifth largest exporter of weapons in the world in the five-year period. According to SIPRI, China accounted for 51 per cent of Pakistan’s

Published by Arif Nizami at Qandeel Printing Press, 4 Queens Road, Lahore. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk

CMYK

arms imports in 2010–14 and for 73 per cent in 2015–19. SIPRI also noted that Pakistan continued to import arms from Europe, strengthening relations with Turkey with orders for 30 combat helicopters and four frigates in 2018. The peace research firm also published a short analysis on the February 2019 military confrontation between Islamabad and New Delhi. According to SIPRI, Pakistan reportedly used combat aircraft imported from China and equipped with Russian engines, in the fight. These aircraft were supported by aircraft from the US, and airborne early warning and control aircraft from Sweden. India reportedly used combat aircraft imported from France and Russia, guided bombs from Israel, and artillery from Sweden with Russian engines in the fight. “Between 2010–14 and 2015–19, arms imports by India and Pakistan decreased by 32 per cent and 39 per cent, respectively. While both countries have long-standing aims to produce their own major arms, they remain largely dependent on imports,” the institute highlighted.