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PAKISTAN’S GDP GROWTH SLOWS TO 0.92% IN FIRST QUARTER Tuesday, 31 December, 2024 I 28 Jumada Al-Akhirah, 1446

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AGRICULTURE AND SERVICES SECTORS OFFSET LARGE DECLINE IN INDUSTRIAL OUTPUT

PROFIT

Profit

THE MODEST GROWTH WAS PRIMARILY DRIVEN BY 1.43% INCREASE IN SERVICES SECTOR

NEWS DESK

AKISTAN’s economy posted a subdued GDP growth of 0.92% in the first quarter of FY25, a significant slowdown from the revised 2.5% growth recorded in FY24, according to data released by the National Accounts Committee (NAC). The modest growth was primarily driven by a 1.43% increase in the services sector and a 1.15% rise in agriculture. However, the industrial sector contracted by 1.03%, weighing down overall economic performance. Agriculture: Despite a sharp 11.19% contraction in major crops such as cotton (-29.6%), maize (-15.6%), rice (-1.2%), and sugarcane (-2.2%), the sector posted 1.15% growth. This was supported by a 4.89% rise in livestock and 2.08% growth in other crops. Industry: Industrial output fell due

The NAC revised FY24 GDP growth down to 2.5% from the earlier estimate of 2.52%. This adjustment was due to a reduction in agriculture growth to 6.18% (previously 6.36%) and a sharper contraction in industry at 1.65% (previously 1.15%). According to renowned brokerage, Topline Securities, the expected GDP growth for FY25 to range between 2.5% and 3.0%, supported by projected growth in agriculture (1.7%), industry (2.1%), and services (3.4%). The Asian Development Bank (ADB) recently raised its FY25 growth forecast for Pakistan to 3% from 2.8%. Similarly, the State Bank of Pakistan expects growth to remain in the upper half of the 2.5-3.5% range. Pakistan’s economic recovery faces challenges, including structural weaknesses and external vulnerabilities. While agriculture and services provide some optimism, the industrial sector’s continued contraction remains a concern.

Cabinet approves sale of 15% stake in Reko Diq to Saudi Arabia

NA Speaker convenes in-camera meeting with PTI on Jan 2 ISLAMABAD

STAFF REPORT

showed resilience, growing by 1.43%, driven by a 5.6% increase in human health and social work activities and a 5.09% rise in information and communication. Other contributors included wholesale and retail trade (+4.58%) and accommodation and food services (+0.51%). Economic Outlook

to a 6.49% decline in the mining and quarrying sector and a 0.82% drop in large-scale manufacturing. Crude oil production was down 19.8%, gas fell by 6.7%, and coal production declined by 12.4%. Additionally, the construction industry contracted by 14.91%, largely due to a 16% drop in cement production. Services: The services sector

Rs 50.00 | Vol XV No 175 I 40 Pages I Lahore Edition

National Assembly Speaker Sardar Ayaz Sadiq has called for a crucial in-camera meeting between the government and the Pakistan Tehreek-e-Insaf (PTI) on January 2, 2025. The meeting will take place at Parliament House at 11 AM and is expected to build on the discussions that began on December 23. The PTI, following internal consultations, is set to present two key demands in writing during the upcoming session. These demands include the formation of a judicial commission to investigate the violent events of May 9, 2023, and the November 26 crackdown on PTI workers in Islamabad, as well as the release of all political prisoners, including PTI founder Imran Khan. Former National Assembly Speaker and PTI leader Asad Qaiser reiterated these demands, stating that the party is firm on the need for a commission to investigate the May 9 and November 26 incidents. He also stressed the need for Khan’s release. The first round of talks on December 23 was described as positive, with both sides agreeing to continue the dialogue. Representing the PTI in the previous meeting were Qaiser, Sunni Ittehad Council (SIC) Chairman Sahibzada Hamid Raza, and Majlis Wahdat-eMuslimeen leader Allama Raja Nasir Abbas. The government’s side will be represented by a ninemember committee, which includes Deputy Prime Minister and Foreign Minister Ishaq Dar, PM’s political aide Rana Sanaullah, Senator Irfan Siddiqui, PPP’s Raja Parvez Ashraf, Naveed Qamar, Istehkam-e-Pakistan Party (IPP) leader Aleem Khan, PML-Q leader Chaudhry Salik Hussain, Balochistan Awami Party’s Sardar Khalid Magsi, and MQM-P leader Dr Khalid Maqbool Siddiqui. Sadiq praised the leadership of both the government and opposition for creating a constructive environment and expressed hope that these efforts would lead to greater political stability and a resolution of Pakistan’s challenges. The January 2 meeting is seen as a crucial step towards resolving the ongoing political polarisation and fostering cooperation between the government and PTI.

15% OF REKO DIQ ACQUIRED IN $540 MILLION; $150 MILLION PLEDGED TO SUPPORT DEVELOPMENT OF MINERAL RESOURCES IN BALUCHISTAN PROFIT

AHMAD AHMADANI

The federal cabinet has approved the sale of a 15% stake in the Reko Diq project to Saudi Arabia for $540 million under the InterGovernmental Commercial Transactions Act. to industry According sources, the federal cabinet has now allowed the Saudi government to acquire the shares through a direct transaction and this move is seen as a major step toward fostering bilateral ties and advancing Pakistan’s mining sector. The Kingdom of Saudi Arabia (KSA) will pay the amount in two installments. In the first phase, Saudi Arabia will acquire a 10pc stake in the project, for which $330 million will be transferred to Pakistan. The remaining 5% stake will be purchased in the second phase for $210 million. In addition to acquiring shares, the Saudi Fund for Development has pledged $150 million to support the development of mineral resources in Balochistan. Furthermore, Saudi

Arabia has shown keen interest in investing in mineral exploration activities in Chagai, where Reko Diq is located. The Reko Diq project, situated in Pakistan’s resource-rich Balochistan province, is among the world’s largest undeveloped copper-gold mines. The federal and Balochistan governments collectively own 50% of the project’s shares, ensuring substantial benefits for the region. Reko Diq’s development is expected to unlock significant economic potential for Pakistan. The project’s successful implementation will not only boost the mining sector but also create job opportunities, enhance infrastructure, and provide long-term revenue streams for both federal and provincial governments. This partnership with Saudi Arabia reflects growing international confidence in Pakistan’s mining sector. Saudi Arabia’s participation in the Reko Diq project aligns with its broader strategy to diversify investments and collaborate with strategic partners. The two-phased payment

structure ensures that Pakistan will receive substantial financial inflows over time, which will strengthen the national economy and bolster reserves. Additionally, the commitment from the Saudi Fund for Development to invest in Balochistan’s mineral resources signals a positive trajectory for future exploration and development projects. The Saudi investment is expected to pave the way for enhanced technological expertise and global best practices in the mining sector. It will also contribute to regional development, particularly in Balochistan, which has long been seen as underdeveloped despite its rich resource base. With the federal cabinet’s approval, all necessary formalities for the transaction will be expedited, and the first tranche of $330 million is anticipated shortly after the transfer of the initial 10% stake. The deal marks a new era of collaboration between Pakistan and Saudi Arabia, with both countries poised to reap significant benefits from this partnership.

IN TODAY’S ISSUE

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Revised IPP deals to save Pakistan Rs 1 trillion: Power minister irfan.farooq@pakistantoday.com.pk

RENEGOTIATIONS AIM TO ALLEVIATE FINANCIAL STRAIN IN ENERGY SECTOR PROFIT

NEWS DESK

The renegotiation of agreements with Independent Power Producers (IPPs) has resulted in financial adjustments amounting to Rs1 trillion, Power Minister Awais Leghari announced during a media briefing. These savings, achieved through a collaborative government approach, were attributed in part to the support of Army Chief General Asim Munir. Agreements with five IPPs were terminated, saving Rs 411 billion, or Rs 7 billion annually. Settlements with eight bagasse-based IPPs added Rs 238 billion in total savings, translating to Rs 8.8 billion annually. Further negotiations with 16 more IPPs are expected to generate additional savings of Rs 481 billion. Talks with Chinese IPPs, excluding nuclear power plants, have also begun, with the re-profiling of one nuclear plant’s debt leading to a Rs 1.5 per unit tariff reduction. The minister addressed the solar net metering buyback rate, stating it would soon be lowered to reduce the financial burden of Rs150 billion currently borne by other consumers, while ensuring solar investors recover their costs within four years. On privatisation, he revealed plans to privatise three Distribution Companies (IESCO, GEPCO, and FESCO) by the end of 2025. Additionally, recent Nepra-approved amendments would be revoked, with key reforms in the regulatory authority underway to ensure fairness. Electricity prices have also seen a decline. The average price dropped from Rs48.70 per unit in June 2023 to Rs44.04, while industrial rates fell from Rs58.50 to Rs47.17 per unit. The elimination of Rs150 billion in cross-subsidies for the industry aims to foster growth, job creation, and economic stability. Reforms in the transmission system include restructuring the National Transmission and Despatch Company (NTDC) into three entities for better efficiency and competitiveness. The SouthNorth transmission corridor is under development, with plans for a 1000MWh battery energy storage system and improved infrastructure at substations. Efforts to reduce the circular debt, now at Rs2.2 trillion, are underway. Transitioning circular debt costs to the national budget is expected to ease electricity bills. Meanwhile, agricultural tube wells in Balochistan are being converted to solar power, supported by federal and provincial funds. The Bijli Sahulat Package continues to offer discounted tariffs for households and industries, while redundant generation assets are being prepared for auction. Special tariffs for electric vehicles are also in the pipeline to promote sustainability. The minister acknowledged challenges such as low recovery rates by Distribution Companies, which contribute to Rs250 billion in losses annually. However, he expressed optimism about ongoing reforms and reiterated his gratitude to the military leadership for their role in renegotiating IPP agreements.

PM Shehbaz Sharif hails PML-N’s legacy on Founding Day ISLAMABAD

STAFF REPORT

Prime Minister Muhammad Shehbaz Sharif on Monday extended his heartfelt congratulations to the Pakistan Muslim League-Nawaz (PML-N) on the occasion of the party’s founding day. Reflecting on the party’s historical significance, the prime minister emphasised the pivotal role of the All India Muslim League and its leaders, including Quaid-eAzam Muhammad Ali Jinnah, in the creation of Pakistan. In his message, the prime minister stated, “The formation of the Muslim League 118 years ago reignited the desire for an independent homeland for Muslims. Through persistent struggle, the Muslims of the subcontinent were granted the gift of a separate and free nation, Pakistan.” He further added, “In line with the vision of Pakistan’s

founding fathers, it is our collective responsibility to work together for the country’s progress and prosperity.” Prime Minister Sharif also highlighted the contributions of Pakistan Muslim League (N) under the leadership of former Prime Minister Nawaz Sharif, noting that the party has been dedicated to the country’s development for over three decades. “The history stands testimony to the fact that the PML-N and its leader, Nawaz Sharif, have always prioritized the welfare of the people and upheld principled politics,” said the Prime Minister. “To safeguard Pakistan, the PML-N made sacrifices, placing the nation’s economy and security ahead of its political interests.” The prime minister expressed his gratitude towards party workers and political leaders, who, alongside the party, boldly stood against military rulers and raised the banner of truth.

He also acknowledged the challenges faced, including imprisonment, but reaffirmed the PML-N’s commitment to unity and national interest over divisive politics. Despite efforts to sideline Nawaz Sharif from politics, the Prime Minister praised the former leader’s political wisdom and unwavering commitment to the nation. “The sacrifices made by Nawaz Sharif and the PML-N have strengthened the foundations of Pakistan,” he said. During the PML-N’s tenure, significant strides were made in the development of industries, agriculture, and the economy. The prime minister also lauded the party’s success in improving diplomatic relations with friendly nations, which contributed to the welfare of the common man. “Today, under the leadership of Nawaz Sharif, PML-N continues to represent the aspirations of the people, working tirelessly for the nation’s progress,” said Prime Minister Sharif.

Imran Khan rules out deal with govt after spending 1.5 years in jail RAWALPINDI

STAFF REPORT

Aleema Khan, the sister of Pakistan Tehreeke-Insaf (PTI) founder Imran Khan, said that the former prime minister has refused to strike any deal, asking “why he would enter any deal when he has already spent one-anda-half years” in prison. “The PTI founder said that his cases have been wrapped up and he was not making a deal [with the government] over this matter,” said Aleema while speaking to media persons outside Adiala jail on Monday — where her brother is incarcerated. The 72-year-old cricketer-turned-politician has been behind bars since August last year after he was sentenced in Toshakhana case-I — one of the dozens cases registered against the former premier since his ouster

from power in April 2022. Aleema, who has recently been taking part in party’s political matters, said that Khan has vowed to fight his cases and will not accept any offer to be placed under house arrest in Bani Gala. The PTI founder, she said, has questioned how were the cases of those leaders who left the party were forgiven. “He said that the May 9 conspiracy was hatched to crush the party,” said Khan’s sister. Aleema said her brother has reiterated the demands of a judicial probe into May 9 riots and November 26 late-night crackdown and release of “political prisoners”. Earlier, PTI Senator Shibli Faraz refuted the “false perception” that Khan was seeking relief for himself in negotiations with the Pakistan Muslim League-Nawaz (PML-N) coalition government.

The coalition government and the embattled PTI finally came to the table last week to defuse political tensions in the country. Negotiating committees, formed by the government and the PTI, conducted their much-hyped meeting in a conducive environment and resolved to continue the dialogue process earlier this month. NA Speaker Ayaz Sadiq, who presided over the meeting, had said that the next session will be held on January 2 and PTI’s team would present a charter of their demands in the huddle. Faraz accused the ruling coalition of spreading false propaganda that PTI founder was seeking relief for himself. He clarified that negations would be held on the point that “all the political prisoners” should be released. A day earlier, Federal Minister for Infor-

mation and Broadcasting Attaullah Tarar said the Centre was ready to cooperate with the Khyber Pakhtunkhwa government in all

sectors and hold talks but its purpose was not to give anyone a break or NRO but to bring political stability in the country.

02 NEWS

CEMENT MANUFACTURER ACCUSED OF RS2.4B TAX FRAUD THROUGH EXPORT SCHEME MISUSE

PROFIT

MoNitoriNg Desk

HE Post Clearance Audit (PCA) South has unearthed a significant tax fraud involving Rs. 2.4 billion by a prominent cement manufacturer, allegedly exploiting four export tax exemption schemes, BR reported. The schemes misused include the Manufacturing Bond, Duty and Tax Remission for Exports (DTRE), Temporary Import under SRO 492, and the Export Facilitation Scheme (EFS), PCA documents reveal. The manufacturer reportedly imported substantial quantities of clinker and pack-

First batch of 146 electric buses arrives in Islamabad

ing materials under the pretense of export but failed to meet the export requirements stipulated in these schemes. The investigation, led by Director PCA South Sheeraz Ahmed and initiated on the directives of DG PCA Dr. Zulfikar Ali Chaudhry, uncovered severe discrepancies during preliminary data scrutiny. A physical inspection of the factory premises on December 18, 2024, confirmed that out of a total imported quantity of 463,334 metric tons (MT) of clinker,

remaining 14 buses en route from china; Zero-point charging station construction underway PROFIT

AgeNcies

The first batch of 146 electric buses out of a total of 160 has arrived in Islamabad, with the remaining 14 buses en route from China, according to the Capital Development Authority (CDA). CDA officials confirmed that construction of a charging station at Zero Point has commenced, following delays caused by the cancellation of tenders twice. A new tender was issued at reduced rates, enabling progress on chargers and parking facilities for the new bus routes. In the initial phase, container-based offices will be set up to facilitate operations. Officials stated that driver training on the new routes will require approximately one month. The buses will soon begin operations on routes covering Park Road, B-7, PWD, I-8, and I9. These routes have already received the necessary approvals. Separately, the Punjab government announced plans earlier this month to introduce 102 electric buses in Rawalpindi. These buses will cover an 84km network, including 10 key public transport routes. The provincial government has allocated Rs 200 million for this initiative, with an overall project cost of Rs 4.7 billion. Punjab Transport Minister Bilal Akbar Khan confirmed in June that the electric bus service will launch next year. Planned routes include Taxila, Wah Cantt, and IJP Road to Akhteree 26, as well as Daulatala to Rawalpindi. This initiative is expected to improve air quality significantly by reducing environmental pollution in the region.

Big Bird Food repays Rs458.54 million debt to SAPICO company focuses on financial flexibility and sustainable growth PROFIT

News Desk

pca south uncovers large-scale evasion involving Multiple tax exeMption regiMes

Big Bird Food Limited (BBFL) said it has successfully repaid a debt amounting to PKR 458.54 million to Saudi Pak Industrial and Agricultural Investment Company Limited (SAPICO). “We are pleased to inform you that Big Bird Food Limited (BBFL) has successfully repaid PKR 458.54 million of its outstanding debt to Saudi Pak Industrial and Agricultural Investment Company Limited (SAPICO),” according to a notice issued by BBFL to the Pakistan Stock Exchange (PSX) on Monday. This strategic initiative underscores the company’s commitment to strengthening its financial position and reducing leverage. The repayment, financed through non-operational cash flow sources, reflects BBFL’s dedication to enhancing financial flexibility, improving capacity, maintaining a robust balance sheet, and driving sustainable growth. The company highlighted that this strategic initiative aligns with its goal of driving sustainable growth while maximizing shareholder value and ensuring long-term financial stability.

only 62,000 MT was accounted for at the factory. A massive quantity of 395,000 MT, valued at Rs. 3.3 billion, was found missing, allegedly pilfered and sold in the local market. The manufacturer’s claim that 15,000 MT of clinker was stockpiled at Taftan and Gwadar dry ports was found to be unsubstantiated, with no evidence backing the assertion. Furthermore, the importer failed to fulfill export obligations under the schemes, with utilization periods long ex-

pired in cases involving the Manufacturing Bond, DTRE, and SRO 492. According to PCA findings, the evasion breakdown includes Rs. 369 million through the Manufacturing Bond, Rs. 222 million via DTRE, Rs. 91 million under Temporary Import (SRO 492), and Rs. 1 billion through EFS misuse. Additionally, a surcharge of Rs. 676 million was calculated on the illegal removal and sale of exempt goods. An FIR has been lodged under Section 32A of the Customs Act, initiating a detailed investigation to identify all individuals and entities involved in the fraudulent activity, which reportedly dates back to 2020.

SIFC sets deadlines for petroleum, LNG, and terminal operations decisions g

key directives issued for bidding tiMelines, surplus lng ManageMent, and national supply chain continuity sion to resolve outstanding matters through an accelerated legal process. A non-extendable deadline of January 15 has been set for final resolutions. On the operational continuity of the liquid and LPG terminal at Port Qasim, the Committee emphasized the critical importance of avoiding disruptions to the national supply chain. It noted that while open bidding is generally preferred, Build-Operate-Transfer (BOT) agreements for national assets require a tailored approach. The Port Qasim Authority (PQA) and the Ministry of Maritime Affairs (MoMA) were tasked with conducting a risk assessment and developing mitigation strategies to ensure a smooth transition during the ongoing bidding process. Discussions between PQA and Engro Vopak Terminal Limited (EVTL) are set to begin on December 30, focusing on amending specific articles in the Implementation Agreement (IA) to facilitate renegotiations. This process is expected

PROFIT

News Desk

The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has directed the Petroleum Division to provide a comprehensive timeline for the completion of ongoing bidding processes by January 10, 2025. This includes circulating advertisements for onshore bidding by January 15 and offshore bidding by January 30, with follow-up marketing initiatives, including roadshows. The Petroleum Division has also been instructed to expedite evaluations and revisions of offshore fiscal policies based on international consultant recommendations. Progress reports are to be submitted fortnightly, with the first due on January 15, 2025. Addressing pending legal issues involving the Sui Southern Gas Company (SSGC), the EC directed the Auditor General of Pakistan and the Law Divi-

to conclude by January 31, 2025. Regarding LNG imports, the Petroleum Division reported the potential for surplus cargoes due to the planned closure of captive plants and reduced demand from K-Electric. The Division has been directed to engage stakeholders to recalibrate LNG imports and finalize negotiations with suppliers by January 15, 2025. The Committee also instructed the Petroleum Division to explore selling surplus re-gasified LNG to third parties or new customers while addressing approximately 2.8 million pending RLNG connection requests by the same deadline. For industries using gas as fuel, the Petroleum Division, in consultation with relevant stakeholders, is to finalize a strategy for both off-grid captive power users and on-grid process industries. All key decisions are expected by mid-January 2025 to ensure uninterrupted energy supply and economic stability.

New Gwadar International Airport to launch flights to Muscat from January 10 g

Muscat-bound flights to Mark airport’s operational debut, enhancing regional connectivity under cpec Spanning the largest area among Pakistan’s airports, NGIA is designed to handle A380 aircraft and manage up to 400,000 passengers annually. It also features state-of-the-art facilities and infrastructure to support cargo operations, with land allocated for warehouses, courier services, and cold storage facilities. The government has prioritized enhancing connectivity to the airport, completing the first phase of the EastBay Expressway, which links NGIA to Gwadar port and other key locations. Feasibility studies for the second phase are underway to further streamline access. The Pakistan Airport Authority (PAA) has issued an Aerodrome Certificate to NGIA, while agencies such

PROFIT

MoNitoriNg Desk

The New Gwadar International Airport (NGIA), a flagship project under the China-Pakistan Economic Corridor (CPEC), is set to commence international operations with flights to Muscat starting January 10, 2025. This development signifies a transformative step for Gwadar, enhancing its position as a regional transit hub. During a high-level review meeting on Monday, Prime Minister Shehbaz Sharif described NGIA as a “shining example of China-Pakistan friendship.” He emphasized that the airport’s operationalization would stimulate economic growth, create job opportunities, and strengthen regional connectivity.

PROFIT

News Desk

The Punjab government plans to cultivate 50 million olive trees on 10 million acres of land by 2026, aiming to address Pakistan’s edible oil needs and reduce reliance on imports. Olive Growing Project Director Azeem Tariq stated that olive farming would not only meet local edible oil demands but also yield significant secondary benefits, including employment opportunities and poverty alleviation. Tariq emphasized the importance of raising awareness, providing training, and improving infrastructure to support the sector, including tools, quality testing, storage, packaging, and marketing facilities. Highlighting a milestone, he noted that Pakistan became the 19th member of the

as the Airport Security Force, Pakistan Customs, and Federal Investigation Agency have deployed personnel to ensure seamless operations. Pakistan International Airlines (PIA) plans to increase its KarachiGwadar flights to three times a week. Discussions with private airlines from Pakistan, China, Oman, and the UAE are also ongoing to expand domestic and international routes from the airport. Built with $246 million in Chinese assistance, NGIA reflects the strategic partnership between Pakistan and China. It is expected to attract significant investments, bolster trade relations, and position Gwadar as a critical node in regional and global trade networks.

PROFIT

Pakistan has scrapped plans for a new tax on banks’ profits on government debt, just days before a critical deadline and following a backlash from lenders. The proposed levy was intended to boost the south Asian country’s sluggish economy by encouraging banks to lend more to the private sector. Banks would have had to raise their advances-to-deposit ratio (ADR) — a metric that measures banks’ lending as a percentage of their total deposits — to more than 50 per cent by December 31 or face an additional 10 to 15 per cent tax on investment income. The ADR was seen as a gauge of lending

company warns against unoﬃcial sources, urges reliance on oﬃcial communication PROFIT

News Desk

TRG Pakistan Limited has raised concerns over fake documents bearing its logo that have been widely circulated on social media platforms, including WhatsApp. According to a statement issued by the company on Monday, these documents feature incorrect calculations and misleading financial scenarios related to a tender announced by its largest shareholder. “The Company is concerned that its shareholders are reviewing this false and misleading information, which has been circulated maliciously by certain parties, often with the Company’s logo, to mislead investors,” TRG Pakistan said in its notice to the PSX. The company highlighted that the false information is being maliciously distributed by unidentified parties to mislead investors and potentially harm stakeholder confidence. In response, TRG Pakistan has advised its shareholders and stakeholders to disregard any unofficial communications and rely solely on information disseminated through the company’s official channels. It emphasized that reliance on unverified sources, particularly social media, could lead to misinformed decisions. The company reaffirmed its commitment to transparency and accuracy in communication and urged the public to verify all information directly through its official platforms.

Money supply reaches Rs 40.09 trillion by November 2024

the sbp reports a steady rise in the nation’s money supply PROFIT

to the private sector, and the measure would have pushed banks to reduce their reliance on income earned from government bonds. But lenders launched a fightback against the regulations, mounting legal challenges and imposing fees in an attempt to reduce overall deposits. The government published its decision to backtrack on the ADR tax on Sunday, approving instead a plan to raise the overall income tax on banks to 44 per cent, an increase of 5 percentage points, two senior government officials said. That levy will fall to 43 per cent in 2026 and 42 per cent in 2027. The new tax will generate at least Rs60bn ($216mn) for the government for the tax year ending December 31, according to an estimate from brokerage Topline Securities, based on banks’ 2024 profitability estimates.

The State Bank of Pakistan (SBP) has reported that the total money supply in the economy reached Rs 40.09 trillion by November 2024. This marks a modest monthly increase of 0.39% from October’s Rs39.93 trillion and a significant year-onyear surge of 13.95% compared to Rs35.18 trillion in November 2023. Breaking down the money supply, Rs9.05 trillion was circulated as currency notes, while transferable deposits—funds readily accessible at par without penalties or restrictions—accounted for Rs22 trillion. The high reliance on currency notes, often attributed to Pakistan’s substantial informal economy, saw a monthly rise of 1.33% and a yearly increase of 7.89%, reflecting higher cash withdrawals amid persistent inflationary pressures. Other deposits, amounting to Rs5.86 trillion in November, grew by 0.21% month-on-month and 11.06% year-on-year. These deposits include claims in national or foreign currency that are not exchangeable on demand but are supported by evidence of deposits. Coins in circulation remained a minor component of the money supply, standing at Rs9.12 billion in November, slightly up from Rs9.09 billion in October but slightly lower than Rs9.24 billion recorded in November 2023.

Punjab govt plans to cultivate 50 million olive trees to reduce edible oil imports

pakistan spends $4.5b annually on edible oil iMports; aMbitious project aiMs to boost local production

International Olive Council (IOC) in 2022 and exported virgin and extra virgin olive oil worth $1.9 million. “Olive oil and olive-based products hold nutritional, culinary, and religious significance,” he explained. Pakistan spends approximately $4.5 billion annually on edible oil imports, and collaborations with Italy, Spain, and China aim to

cut costs and achieve self-sufficiency in production. Currently, the country has 80 million wild olive trees and 5 million cultivated ones. The Pothohar region in Punjab, as well as areas in Khyber Pakhtunkhwa and Balochistan, are particularly suitable for olive farming due to their climate and land conditions. Efforts in recent years include

Measure abandoned days before deadline after lenders launched legal challenges and iMposed fees FiNANciAl tiMes

TRG Pakistan alerts stakeholders on fake documents circulating online

MoNitoriNg Desk

Pakistan scraps plan for tax on banks’ bumper profits

Tuesday, 31 December, 2024 | LAHORE

Zafar Masud, chair of the Pakistan Banks’ Association, an industry lobbying group, said the changes would be a way of “killing all the distortion” that had emerged as a result of the planned ADR tax. “While the additional taxation is never an ideal situation . . . in this case the industry is most pleased to contribute towards the public exchequer in this hour of need for the government,” said Masud, who had previously called the ADR tax a blunt instrument to spur lending. An economic contraction, soaring inflation and interest rates that touched 22 per cent have left Pakistan with one of the lowest rates of domestic credit to the private sector as a percentage of GDP, according to the World Bank. At the same time, Pakistan’s banks have

enjoyed bumper profits from returns on government-issued debt, providing them a disincentive from taking on new loans. The ADR tax aimed to help the government claw back a greater share of those profits, as well as encourage the flow of private credit to companies. Some lenders have already begun showing signs of attempting to meet the proposed ADR threshold in anticipation. According to the State Bank of Pakistan, the central bank, credit to the private sector picked up by Rs1.4tn in October compared with the previous month, a 15 per cent jump. The sector’s ADR rose to 49.7 per cent by December 6, up from 38.4 per cent in August, according to Arif Habib, a brokerage. But much of that money flowed to state-

grafting millions of wild olive trees and cultivating around 5 million new olive plants. More than 10 million acres of land remain available for future olive farming expansion. Key initiatives include establishing new olive processing mills, the “50 Million Olive Tree” project, and the “Promotion of Olive Cultivation for Economic Development and Poverty Alleviation” project. These projects aim to significantly boost production capacity, enhance self-reliance, and create sustainable economic growth opportunities.

owned enterprises at artificially low rates, or through lossmaking financing to large corporates and development finance institutions that make small arbitrage gains by buying Treasury bills, according to analysts and banking executives. Some lenders had also introduced monthly fees of about 5 per cent on their largest depositors in an attempt to push them to reduce their deposits and thereby improve the ADR ratio. However, such fees were withdrawn after the SBP, following customer complaints, promised to advocate for lenders on tax reform in negotiations with the finance ministry, according to people familiar with talks between bankers and the central bank. Bankers had also turned to the courts in an attempt to delay the implementation of the ADR tax. In November, the Islamabad High Court said about a dozen banks were entitled to temporary relief from the penalty while it worked through multiple petitions from lenders.

NEWS 03

Tuesday, 31 December, 2024 | LAHORE

GOVT SET TO RING IN NEW YEAR WITH FUEL PRICE ‘SURPRISE’

PROFIT

AhMAD AhMADANi

HE prices of petroleum products are projected to rise with the start of the New Year, affecting the first half of January 2025. According to industry sources, ex-depot sale prices for all petroleum products are likely to increase. High-speed diesel (HSD) is expected to rise by Rs 3.62 per liter, while petrol may see a minimal increase of Rs. 0.11 per liter. However, the government might main-

PSO signs SPA with Azerbaijan’s SOCAR for petroleum product supply PROFIT

MoNitoriNg Desk

Pakistan State Oil Company Limited (PSO), the country’s largest fuel marketing company, has announced the approval and execution of a Sale Purchase Agreement (SPA) with the State Oil Company of the Republic of Azerbaijan (SOCAR). The agreement aims to bolster the supply of petroleum products in Pakistan, reflecting deepening energy cooperation between the two nations. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, PSO revealed that its Board of Management (BoM) approved the agreement following approvals from the Economic Coordination Committee (ECC) and the Federal Cabinet. The Ministry of Energy (Petroleum Division), in a letter dated December 3, 2024, informed PSO of these endorsements and instructed the company to expedite the signing process. “The signed agreement has been received from SOCAR on December 24, 2024,” stated the PSO notice. The agreement’s execution is set to proceed shortly, with the SPA enabling the supply of petroleum products from SOCAR to PSO. This development makes PSO the second Pakistani entity, after Pakistan LNG Limited (PLL), to establish an import arrangement with the Azerbaijani energy giant. Last year, PLL and SOCAR signed a framework agreement for LNG imports, offering a reliable monthly supply contingent on Pakistan’s demand and commercial viability. Pakistan currently meets the majority of its LNG needs through long-term contracts with Qatar, while spot cargo purchases address shortfalls.The SPA between PSO and SOCAR underscores Pakistan’s ongoing efforts to diversify its energy partnerships and ensure a consistent supply of petroleum products to meet domestic demand.

tain petrol prices at the current level. Kerosene oil prices are anticipated to increase by Rs. 0.05 per liter, and light diesel oil (LDO) could see a hike of Rs. 3.03 per liter. These estimates are based on prevailing government taxes, an Inland Freight Equalization Margin (IFEM) of Rs. 7.92 per liter on petrol and Rs. 4.18 per liter on HSD, without factoring in dollar exchange rate fluctuations. Sources indicated that the gov-

ernment might absorb some costs to avoid raising petrol prices further. Ex-refinery prices are also expected to reflect mixed trends. While the ex-refinery price of petrol could decrease by Rs. 2.81 per liter, HSD may rise by Rs. 3.62 per liter. Kerosene oil and LDO prices are projected to increase by Rs. 0.05 and Rs. 3.03 per liter, respectively. Currently, petrol is priced at Rs. 252.10 per liter, and a Rs. 0.11 increase would

SIFC sets January 7 deadline for refinery upgrade agreements under $6b policy

sales tax exeMption increases project costs by $763M; iMf approval hinges on resolving gst issue PROFIT

AhMAD AhMADANi

The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has set January 7, 2025, as the deadline for finalizing upgradation agreements between the Oil and Gas Regulatory Authority (OGRA) and five refineries under the Brownfield Refinery Upgradation Policy. Sources revealed that during a recent meeting, the EC expressed concerns over delays in implementing the policy, introduced in August 2023, which aims to attract $5–6 billion in investment. The Petroleum Secretary highlighted that the exemption of sales tax on petroleum products, introduced in the 2024-25 budget, has increased project costs by $763 million, jeopardising refinery operations and making them unsustainable.

The Executive Committee directed the Petroleum Division to collaborate with the Finance Division and other stakeholders to address these challenges. A working group meeting will be convened to finalize amendments, and the Petroleum Division is expected to present a summary of required actions by January 15, 2025. Meanwhile, OGRA has been tasked with managing operational losses caused by the sales tax exemption through the Interim Pricing Mechanism (IFEM) while ensuring timely agreements. Three refineries—Attock Refinery Limited (ARL), Cnergyico PK Limited, and Pakistan Refinery Limited (PRL)—have already signed upgradation agreements, joining Pakistan Refineries Limited (PRL). However, Pak-Arab Refinery Limited (PARCO) is still finalising its study to define the scope of its upgra-

agenda. He said the recently introfbr highlights tax gap and outlines structural form duced Tax Amendment Bill aims to enhance compliance and increase the reforMs to Modernise revenue collection tax-to-GDP ratio to 13% for sustainable

PROFIT

The Ministry of Energy (Petroleum Division) has made significant appointments to the boards of two major energy companies, Mari Petroleum Company Limited (MPCL) and Sui Southern Gas Company Limited (SSGCL), according to separate notifications sent to the PSX on Monday. Mr. Muhammad Ramzan, Joint Secretary (A/CA), Petroleum Division, has been appointed as Director on the MPCL Board, effective December 27, 2024. He replaces Mr. Zafar Abbas. Similarly, Mr. Momin Agha, Secretary, the Petroleum Division, has been co-opted as an Ex-Officio Director on the Board of SSGCL. His appointment was confirmed with effect from December 30, 2024, following a nomination by the Ministry of Energy. Both companies have informed the PSX to notify TRE Certificate Holders about these changes.

PROFIT

MoNitoriNg Desk

In a significant revelation, the Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial disclosed that Pakistan’s top 5% of earners have an outstanding tax liability of Rs1.6 trillion. Speaking at a press conference alongside Finance Minister Senator Muhammad Aurangzeb and Minister of State for Finance Ali Pervaiz Malik, Langrial highlighted the government’s focus on addressing this critical tax gap. The FBR chief explained that the tax gap for the current fiscal year is estimated at Rs7.1 trillion, up from Rs6.2 trillion last year. He revealed that approximately 3.3 million individuals fall

under the top 5% earning category, but only 0.6 million of them file income tax returns, leaving 2.7 million as non-filers or under-filers. “Even when combining all categories below the top 5%, their total unpaid tax liability is not over Rs 140 billion,” Langrial emphasised. Speaking at a press conference in Islamabad on Thursday, the FBR chief said that the income tax gap stood at Rs2.4 trillion. Underscoring the reforms in the tax sector, Langrial revealed that the tax authority issued notices to 19,000 people, out of which 38,000 submitted their tax returns amounting to Rs370.7 million. Finance Minister Aurangzeb stressed that tax reforms are a pivotal part of the government’s structural re-

SECP ceases guarantee-business of Crescent Star Insurance PROFIT

ghulAM AbbAs

The Securities and Exchange Commission of Pakistan (SECP) has directed Crescent Star Insurance Limited (Crescent Star) to cease its guarantees business under Section 60 of the Insurance Ordinance, 2000. The decision comes after the company issued guarantees worth Rs. 229 billion without obtaining the requisite collateral or valid reinsurance arrangements. According to details, to ensure due process and provide Crescent Star an opportunity to explain its position regarding regulatory violations, SECP issued a notice to the company on January 31, 2024. However, Crescent Star challenged the notice in the Islamabad High Court. The court did not grant any relief to the company and instructed it to participate in SECP’s proceedings. During the proceedings, SECP provided six opportunities for hearings and received

dation project. Refineries have raised concerns over the Goods and Services Tax (GST) on petroleum products, which remains a significant obstacle. They stressed that resolving this issue is crucial for securing IMF approval, as the matter is under review by the IMF mission in Islamabad. In a joint letter to OGRA Chairman Mansoor Khan, refinery CEOs referred to prior communication with the Petroleum Division, requesting clarity on reducing deemed duty on High-Speed Diesel (HSD) under the policy. They also urged extending the deadline for signing upgradation agreements, emphasizing their commitment to investing over $6 billion in facility upgrades. The SIFC’s EC has reiterated the urgency of finalizing these agreements to ensure the policy’s implementation and support the modernization of refineries. Despite ongoing discussions, including an SIFC meeting on October 22, 2024, unresolved issues persist. The EC stressed the need to address these challenges promptly in the national interest.

Top 5% earners owe Rs 1.6 trillion in unpaid taxes, reveals FBR

Govt nominates new directors for MPCL, SSGC boards News Desk

bring the new price to Rs. 252.21 per liter. HSD, widely used in agriculture and transportation, is currently priced at Rs. 255.38 per liter and may rise to Rs. 259. Kerosene oil, essential for cooking and heating in rural areas, is expected to increase slightly to Rs. 161.71 per liter. LDO, which supports small-scale industrial operations, could rise to Rs. 151.97 per liter. Petroleum products are crucial for Pakistan’s economy, powering key sectors like transportation, agriculture, and industries. Petrol is primarily used in private vehicles and motorcycles, HSD supports heavy transport

diesel prices to rise by up to rs3/litre, petrol expected to reMain steady

four written responses from Crescent Star. Despite this, the company failed to demonstrate compliance with the regulatory requirements, including securing proper collateral and reinsurance arrangements. Crescent Star claimed it had obtained reinsurance arrangements for its guarantees business. However, when SECP approached the concerned insurance company, it categorically denied the existence of any such arrangement, confirming Crescent Star’s non-compliance and misrepresentation. Following these findings, SECP concluded that Crescent Star was conducting its guarantees business without meeting the necessary regulatory prerequisites. To safeguard the integrity of the insurance sector, SECP directed Crescent Star to cease its guarantees business, refrain from rolling over existing guarantees in any form, and fulfill its obligations as they come due. The company has also been instructed to submit a comparative

statement of outstanding guarantees to SECP on a monthly basis. Crescent Star may seek the cancellation or modification of SECP’s directive if it complies with the regulatory framework, including obtaining proper collateral and valid reinsurance arrangements, to SECP’s satisfaction. In a related development, SECP has initiated similar proceedings against United Insurance Company of Pakistan Limited for allegedly carrying out guarantees business without adhering to regulatory requirements. These proceedings are currently pending as United Insurance has obtained a stay order from the Lahore High Court. Meanwhile, SECP continues its efforts to enhance customer confidence in the insurance sector. During the first half of FY202425, the commission successfully addressed over 2,300 complaints, resulting in the recovery of claims worth Rs. 268 million for individuals.

Shahab Qader Khan appointed as CEO of KAPCO PROFIT

News Desk

fiscal management. Aurangzeb also highlighted ongoing efforts to digitise the FBR’s systems, which have moved from the design phase to execution within a few months. “We aim not only to increase revenue but also to improve the ease of doing business, making it a win-win for the country,” he stated. Minister of State for Finance Ali Pervaiz Malik added that 5 million individuals had filed tax returns by October 2024, compared to 3 million last year. He noted the government’s analysis of consumption data had identified 190,000 potential taxpayers, estimating their liability at Rs50-60 billion. In response to questions, Langrial mentioned plans to reduce GST rates to 10-12% in the coming years, while Aurangzeb acknowledged the government is currently behind its revenue target but remains committed to achieving it. Separately, Information Minister Attaullah Tarar addressed concerns from international agencies regarding recent military court convictions of civilians, assuring compliance with international obligations under the ICCPR. The European Union (EU) had earlier expressed concerns about the convictions, calling them inconsistent with Pakistan’s commitments.

Kot Addu Power Company Limited (KAPCO) has announced the appointment of Mr. Shahab Qader Khan as its Chief Executive Officer (CEO). His tenure will span three years, beginning January 22, 2025, and concluding on January 21, 2028. The decision, approved by the Board of Directors, was formally communicated to the Pakistan Stock Exchange (PSX) on Monday. According to the PSX website, Kot Addu Power Company was incorporated on April 25, 1996 as a public limited company under the Companies Ordinance, 1984 (now Companies Act, 2017). The principal activities of the company are to own, operate and maintain a multi-fuel fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, District Muzaffargarh, Punjab and to sell the electricity produced therefrom to a single customer, Pakistan Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).

and agricultural machinery, kerosene oil provides energy in areas without natural gas, and LDO aids small-scale industrial activities. The Petroleum Division, in collaboration with the Oil and Gas Regulatory Authority (OGRA), is finalizing pricing recommendations for submission to the Ministry of Finance on December 31, 2024. The revised prices will be announced by Finance Minister Muhammad Aurangzeb after consultation with Prime Minister Shehbaz Sharif. The new prices will take effect from January 1, 2025, and remain valid for the first 15 days of the year.

Punjab to roll out e-taxi service, starting with Lahore PROFIT

AgeNcies

Punjab Chief Minister Maryam Nawaz Sharif has directed Provincial Transport Minister Bilal Akbar Khan to initiate an etaxi service across the province, modeled on China’s electric taxi system. The Punjab Transport Department has already begun groundwork for the project, with discussions underway with various electric vehicle manufacturers. Prominent stakeholders, including the Deewan Group and the National Radio & Telecommunication Corporation (NRTC), have expressed interest in collaborating on the initiative. In the first phase, the e-taxi service will operate in Lahore and divisional headquarters, with plans to expand to other major cities across Punjab. The service will be available round-theclock, offering citizens an affordable and environmentally friendly transportation option. Officials anticipate the introduction of e-taxis will boost access to cost-effective transportation while slightly reducing employment in traditional taxi services. The project aligns with the government’s broader focus on promoting sustainable urban mobility.

PSX soars over 3100 pts amid strong buying PROFIT

News Desk

The Pakistan Stock Exchange (PSX) opened the week on a bullish note, with the benchmark KSE-100 Index surging by over 2,600 points during intra-day trading on Monday. By 2:30 pm, the index stood at 114,548.09, reflecting an increase of almost 3197 points or 2.9%. Investors showed robust interest across key sectors, including automobile assemblers, cement, chemicals, commercial banks, fertilisers, oil and gas exploration, OMCs, and power generation. Notable contributors to the rally included index-heavy stocks such as HUBCO, OGDC, MARI, PPL, POL, PSO, SNGPL, HBL, NBP, and MCB, all of which traded in the green. The PSX has been a standout performer among Pakistan’s asset classes in 2024. According to Topline Securities, the KSE-100 Index has gained 78% this year, making it the second-best performing market globally, trailing only Argentina. Over the past 18 months, the exchange delivered a remarkable 177% return in USD terms (169% in PKR), driven by macroeconomic stabilisation and external account improvements. Despite this rally, the PSX’s market capitalisation remains at $50 billion, just half of its 2017 peak of $100 billion. The decline has been attributed to PKR devaluation, significant dividend payouts, and limited new listings. Last week, the KSE-100 Index closed with a weekly gain of 1,838.03 points, ending at 111,351.18, reflecting strong buying momentum at attractive valuations.

04 COMMENT

PTI-government parley: Success or failure?

Farmers on the brink

HE year 2024 has been one of unmitigated devastation for Pakistan’s farming community. A sector that feeds millions and underpins the nation’s economy has been rocked by a perfect storm of plunging crop prices, staggering yield collapses, and climate-induced calamities. Wheat farmers, reeling from a steep price crash, have seen their incomes vanish, while those growing cotton, maize, and rice have faced catastrophic crop losses ranging from 30 to 65 percent. As these farmers look to 2025, they see little light at the end of the tunnel, their plight worsened by an indifferent government and unrelenting systemic challenges. This crisis is rooted in three interlocking factors: a vacuum of coherent agricultural policy, the imposition of an uncertain taxation regime, and the increasingly undeniable effects of climate change on farming. The government’s response to these existential challenges has been characterized not by support or solutions but by neglect, opacity, and disarray. Far from addressing the sector’s woes, policymakers have sown confusion and despair, leaving farmers to fend for themselves amid an increasingly hostile environment. A case in point is wheat. Despite being a staple crop and a lifeline for millions of Pakistanis, the government’s handling of wheat policy has been nothing short of disastrous. Farmers have sown this year’s crop without a support price or any official policy framework, a glaring omission that reveals a shocking insensitivity to their plight. This year alone, farmers saw their income slashed by over 30 percent, and yet the government has refused to explain, let alone justify, its abrupt policy shifts. Instead, it appears more responsive to external pressures than to the needs of its own citizens. Take the looming changes to the taxation regime, reportedly under the aegis of the International Monetary Fund (IMF). The Punjab government—which presides over 80 percent of Pakistan’s agricultural land—is reportedly preparing to shift from a revenuebased to an income-based taxation system, with plans to impose a staggering 45 percent tax on the highest income bracket. Worse still, leaked reports suggest this regime may be applied retroactively, further fueling uncertainty and anxiety among farmers. Double taxation could add insult to injury, with both landowners and lessees potentially taxed on the same income. In a sector already on its knees, these measures could be the final blow. Then there is the climate crisis. For Pakistan’s farmers, climate change is no longer an abstract global threat; it is a measurable, devastating force. This year, extreme weather events struck at critical junctures, decimating crops already weakened by earlier economic losses. Rice, maize, cotton, and sesame—all crucial to the agricultural economy—suffered unprecedented losses. Sesame farmers, for instance, saw yields drop by 65 percent despite a significant expansion in acreage. Cotton and maize recorded 35 percent losses, while rice fared only marginally better. These losses underscore the fragility of Pakistan’s agricultural ecosystem, which remains acutely vulnerable to the growing unpredictability of climate patterns. The cumulative impact of these challenges is devastating not just for farmers but for the entire nation. Agriculture accounts for nearly 20 percent of Pakistan’s GDP and employs more than 38 percent of its workforce. A crisis of this magnitude threatens food security, economic stability, and rural livelihoods. Yet, the government’s response has been woefully inadequate. Instead of devising robust policies to mitigate climate impacts, stabilize crop prices, and provide fiscal relief, it has retreated into silence, leaving farmers to battle insurmountable odds. Pakistan cannot afford this indifference. What the agricultural sector needs is not platitudes but action: transparent policies, meaningful financial support, and a concerted effort to address the climate crisis.

Qamar Bashir

HE recent initiation of dialogue between PTI and the broader political spectrum marks a pivotal and positive step toward resolving political conflicts through democratic means. This development reflects a notable shift in PTI’s earlier stance of isolating itself from political actors it had dismissed as powerless, illegitimate, and lacking public mandate. Previously, PTI sought engagement exclusively with the establishment, which it deemed the true power holder, undermining the democratic principle that governance should be conducted through civilian institutions and elected representatives. This shift suggests that PTI may have received assurances from the establishment to support its demands if it engages with civilian political forces, signaling a strategic recalibration. PTI’s demands in these negotiations can be divided into short-term and long-term goals. In the immediate term, PTI is likely to prioritize the release of its leader, Imran Khan, and detained political activists, as well as the restoration of the February 8 election mandate, which it views as critical to reclaiming governance in the center and Punjab. However, PTI’s far-sighted demands focus on systemic reforms to strengthen democratic governance, reduce military interference in civilian affairs, and establish a stable governance framework. Key reforms include an independent Election Commission with biometric voter verification, judicial independence through transparent appointments, and institutional accountability. PTI also seeks to redefine civil-military relations by confining the military to defense roles, removing military officers from civilian positions, and introducing parliamentary oversight of defense budgets. Additionally, fostering national unity through inclusivity, empowering marginalized communities, and addressing socio-economic issues like poverty, healthcare, and education forms a cornerstone of PTI’s vision. Rather than seeking short-term concessions, PTI should demand the reversal of recent constitutional amendments and legislative changes enacted by the incumbent government. These amendments have drastically altered the balance of power, weakening the

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late)

judiciary, reducing parliamentary authority, and enhancing military influence. For instance, the 26th Constitutional Amendment has increased parliamentary involvement in judicial appointments and altered the process of selecting the Chief Justice, replacing the seniority-based system with parliamentary discretion—a move widely criticized for undermining judicial independence. Similarly, amendments to the Pakistan Army Act extended the tenures of military chiefs, consolidating their authority, while legislative measures granted the Inter-Services Intelligence (ISI) unprecedented powers of communication interception, raising concerns about privacy and civil liberties. Additionally, the government’s perceived non-compliance with Supreme Court orders, including those opposing the trial of civilians in military courts, has further eroded democratic principles and institutional balance. These recommendations align with a concept paper I presented to PTI leadership in May 2024, emphasizing the importance of resolving political issues on political platforms rather than relying on the establishment. The paper highlighted that PTI’s refusal to engage with other political parties weakened its ability to build consensus on national issues and reinforced a narrative that the military remains the ultimate arbiter of power. It urged PTI to shift from isolationist rhetoric to meaningful dialogue, recognizing that democratic governance rests on the strength of civilian institutions and collaboration among elected representatives. However, the feasibility of these negotiations remains uncertain. If frivolous cases against PTI leadership and workers are withdrawn under due process, PTI would quickly regain its footing and mobilize its supporters, potentially crippling the government through street agitation. If the establishment remains neutral, the government might not last more than a few months. Similarly, conceding to PTI’s demand to restore the “stolen mandate” of the February 8 elections would immediately delegitimize the government, leading to its collapse. Furthermore, undoing constitutional and legislative amendments would strip the military and ISI of their enhanced powers, restore election tribunals, eliminate military courts, and reinstate the judiciary’s full authority. These changes would likely result in the government’s swift disintegration, as PTI’s

M. A. Niazi

Babar Nizami

Editor Pakistan Today

Editor Profit

strategies and institutional frameworks. This also includes promoting synergies between local governments, international and domestic non-governmental organisations (NGOs), business community and the people, for the optimal use of available resources. Local monitoring and evaluation mechanisms are equally crucial for accountability and evidence-driven change. Lastly, any future plans should encompass the idea of continuously strengthening the capacity of local and national partners to join forces. This will not only the achievement of SDGs but also their integration into the local development. Pakistan can learn from the best practices of other developing countries like Rwanda, which ranks 90th on the 2024 SDGs Index. Rwanda has effectively adopted a bottom-up governance approach that involves local communities in the SDGs agenda. This approach has also been successfully implemented by other South Asian nations including Bangladesh and Sri Lanka, which ranked 107th and 93rd, respectively, on the SDGs index. Localisation of the SDGs in Pakistan presents an avenue to address the country’s socioeconomic challenges and regional imbalances. Within Pakistan’s decentralised governance framework, there is a potential to tailor SDG ef-

Editor’s mail

Karachiites have had enough

forts to the specific needs of provincial and local areas. However, several factors will govern the success of localisation. First, local entities should be adequately equipped with financial support and technical capacity to implement SDG-related programs effectively. Secondly, the federal government must ensure that concerned local entities have administrative autonomy to formulate and execute programs. In addition, comprehensive data collection systems need to be developed at the local level to monitor progress and assess outcomes clearly. In conclusion, this is a transformative opportunity for localising the SDGs in Pakistanstrengthening governance, improving local institutions, and creating a more inclusive society. However, enduring progress depends on the collective efforts at national, provincial, and local governments, civil society, and the private sector. By investing in local governance, promoting partnerships, and enforcing effective monitoring systems, Pakistan can realise the SDGs goals to ensure equitable future for all by 2030. The writer is a researcher at the Centre for Aerospace and Security Studies, Lahore. She can be reached at info@casslhr.com

Lastly, any future plans should encompass the idea of continuously strengthening the capacity of local and national partners to join forces. This will not only the achievement of SDGs but also their integration into the local development. Pakistan can learn from the best practices of other developing countries like Rwanda, which ranks 90th on the 2024 SDGs Index. Rwanda has effectively adopted a bottom-up governance approach that involves local communities in the SDGs agenda.

Lahore – Ph: 042-36300938, 042-36375965

Karachi – Ph: 021-32640318 I

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

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

EzBa Wilayat Khan

HIS timeless adage encapsulates the core idea of sustainable development, particularly for developing countries like Pakistan, as the success of the global Sustainable Development Goals (SDGs) hinges on effective implementation at the grassroots level. As the first country to formally adopt the Sustainable Development Goals (SDGs) of the United Nations (UN) nationally in 2015, Pakistan has shown a commendable devotion to achieve these goals. In this context, Pakistan established a dedicated SDGs section in the Ministry of Planning, Development and Special Initiatives (MPDSI), and Service Delivery Units at federal and provincial levels for the national implementation and tracking of SDGs. Furthermore, the country has prioritised SDGs under three diverse and related categories to accelerate progress. However, the nation ranked 137th out of 167 countries on the SDGs Index 2024, indicating a substantial gap between policy and practice. The primary issue is that the SDGs initiatives have been designed at the higher levels of the governmental ladder without engaging local governments and other key stakeholders. This has created a disconnect between the top-down strategy and local action. In pursuit of that, the Global Taskforce of Local and Regional Governments (GTLRG provides a comprehensive roadmap for localising SDGs, emphasising that local governments are fundamental to converting global goals into more specific, localised deliverables. The roadmap is divided into five crucial phases which include Awareness-Raising, Advocacy, Implementation, Monitoring, and Where Do We Go from Here? Each one is a building block in empowering local governments, communities, and stakeholders to take ownership of the SDGs and thus ensure that global targets are delivered at the local level. In a more interconnected and sustainable future, local governments are on the front lines, bridging the gap between national objectives and local realities. The process begins with raising awareness and instilling knowledge among people at grassroots level, local administrations and civil society organisations (CSOs) regarding SDGs and how they align with their needs. There is a need for appropriate communication approaches that are adapted to the communities with diverse languages, cultures and infrastructure. For this purpose, mobile applications or SMS services in local dialects can be useful for targeting regions with low literacy rate. Advocacy is equally important as it aims to promote the inclusion of local perspectives in national SDG frameworks in a way that addresses regional differences. Successful implementation depends on integrating local priorities into the development of national

restored position would render it ungovernable. Under the current circumstances, the government is likely to offer limited and calculated concessions to PTI, aimed at placating the opposition without jeopardizing its own hold on power or antagonizing the establishment. These concessions may include the partial withdrawal of minor or frivolous cases against PTI leaders, the selective release of detained workers, and symbolic gestures reaffirming democratic principles without enacting meaningful reforms. Discussions on electoral reforms, such as biometric voter verification or improved oversight, might be entertained, but any implementation would likely be delayed. The government is unlikely to address demands that threaten its legitimacy, such as restoring the February 8 election mandate or reversing constitutional amendments that enhance establishment powers. These constraints highlight the delicate balance the government must maintain—appearing conciliatory enough to prevent unrest while avoiding concessions that could undermine its authority or provoke institutional backlash. As a result, any offered concessions are expected to be superficial, prolonging political instability without addressing PTI’s core grievances. Interestingly, any or all concessions would not significantly dent the deeply entrenched establishment, which has consolidated unprecedented power since February 8. For the establishment, shifting support between political parties is routine. Regardless of the ruling party, the establishment’s authority remains unassailable. If it chooses to remove the incumbent government, it will do so decisively, installing a new party of choice and supporting it until it falls out of favor. This cyclical process underscores the disposable nature of civilian governments and the enduring dominance of the establishment in Pakistan’s power dynamics. Without addressing this imbalance, any progress toward genuine democratic governance will remain illusory.

PTIÊs demands in these negotiations can be divided into short-term and long-term goals. In the immediate term, PTI is likely to prioritize the release of its leader, Imran Khan, and detained political activists, as well as the restoration of the February 8 election mandate, which it views as critical to reclaiming governance in the center and Punjab.

Navigating Pakistan’s SDGs localisation strategy Founding Editor

Tuesday, 31 December, 2024

Islamabad – Ph: 051-2204545

KARACHI, the so-called ‘City of Lights’, has been famous for its electricity and gas loadshedding, and now it also faces water shortages. Recently, people, particularly in the Gulshan-i-Iqbal area, were forced to survive eight consecutive days without regular water supply. This happened because of the damage caused by the never-ending construction work related to the Bus Rapid Transit (BRT) Red Line. This was not the first such incident. In fact, damage to water supply pipelines is a frequent tragedy that hits the households every few weeks. While the project itself has been a nuisance for millions of commuters and area residents for years, the disruption of water supply has added to the misery of the people over the last few months. It might be easy for the wealthier ones to buy water tankers, but what about those who cannot afford such a luxury? If the word on the streets is to be believed, the ongoing water shortage has been created intentionally in connivance with the Karachi Water and Sewerage Corporation (KWSC) as an attempt to favour the water tanker mafia. If that is, indeed, the case, those involved in such activities must be identified and punished. People are already dying from hunger, malnourishment, diseases, road traffic accidents, inflation, poverty and street crimes. If things do not change, they will soon be dying of thirst. One wonders for how long the people of Karachi would have to put up with this lingering torture. SUMAIRA HADI KARACHI

Cultural setback

IN a rather significant setback to the local economy, the relevant authorities announced the postponement of the Shandur Polo Festival this year. Originally scheduled in the last week of June, the postponement of the festival was on account of adverse weather conditions in the Upper Chitral district. However, the fact is that the event has been more of a cancellation than a postponement, which is a pity. Unfortunately, the decision triggered an immediate and substantial economic downturn in Chitral. Local hotels, guest houses as well as homestays faced a significant drop in bookings, leading to a direct loss of revenue. Restaurants, cafes and food vendors, who anticipated the routine seasonal surge in business from festival attendees, also experienced a sharp decline in income. Most of the local artisans and vendors, who rely on the festival to sell handicrafts, souvenirs and regional products, were also among the victims. Itis clear that the abrupt disruption of revenue opportunities has impacted the annual income of the locals, causing financial strain to almost every household in the region. Undoubtedly, the festival always creates numerous temporary job opportunities for the local people with respect to event management, hospitality services, transportation and security arrangements. The festival’s cancelation has resulted in the loss of these opportunities, affecting the livelihood of many individuals who depend on this seasonal employment. Travel agencies and transportation services have also felt the pinch. With fewer tourists traveling to Chitral, these individuals and businesses have suffered financial losses due to decreased travel bookings. The Shandur Polo Festival is a massive economic driver and a cultural cornerstone for the local community. Besides, the postponement has disrupted the event’s annual social cohesion value as well as the cultural pride of the region, leading to widespread disappointment among the locals and the visitors alike. Moreover, frequent postponements or cancellations due to inaccurate weather predictions could harm the credibility of event organisers, potentially affecting tourists’ trust and willingness to plan for future festivals. To avoid such disruptions in the future, there is a pressing need for investment in advanced weather forecasting technology and collaboration with meteorological experts to ensure more accurate weather predictions. Furthermore, developing comprehensive contingency plans, including alternative dates and venues, could mitigate the economic and social impact of weather-related disruptions. IBRAHIM SHAH KARACHI

Web: www.pakistantoday.com.pk

Email: editorial@pakistantoday.com.pk

Tuesday, 31 December, 2024

m A hoSSAin

HINA has reiterated its commitment to strengthening its longstanding relationship with Bangladesh, a bond that has grown significantly in recent years. The recent inauguration of the Padma Bridge Rail Link Project on December 24, is a testament to this evolving partnership. This project, a milestone in Bangladesh’s infrastructure development, highlights the depth of cooperation between the two nations and underscores China’s active role in Bangladesh’s progress under the Belt and Road Initiative (BRI). The Padma Bridge Rail Link Project is the largest infrastructure project ever undertaken by China in Bangladesh. It promises to revolutionize transportation by reducing travel time between the Capital city of Dhaka and the western region - Jessore from 10 hours to just 2 hours. This significant improvement in connectivity is expected to benefit over 80 million people in the region. Beyond its immediate impact on travel, the project is forecasted to boost Bangladesh’s GDP by 1.5% and create thousands of local jobs. Moreover, it offers an invaluable opportunity to train local workers, contributing to the development of a skilled workforce capable of supporting the country’s future industrial and infrastructure growth. China’s involvement in Bangladesh extends beyond infrastructure. Over the past fiscal year, Bangladesh has seen a remarkable threefold increase in Chinese Foreign Direct Investment (FDI). Over 20 Chinese companies have established their South Asian headquarters in Bangladesh, signifying growing confidence in the country’s economic potential. Within the last four months alone, 11 Chinese enterprises have invested $180 million in various sectors in Bangladesh. This trend is expected to continue as more Chinese-financed projects are being planned. These investments reflect China’s recognition of Bangladesh as a critical partner in South Asia and its strategic gateway to the region. China’s commitment to Bangladesh’s development is also evident in the renewable energy sector. Chinese enterprises are ex-

COMMENT 05

Strategic partnership with China: Bangladesh’s gateway to progress

ploring the establishment of solar panel manufacturing plants in Bangladesh. A delegation of Chinese photovoltaic companies, including representatives from industry leaders such as LONGi Green Energy Technology Co. Ltd., Tongwei Co., Ltd., and Yunnan Show, has already visited key institutions like the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA). This initiative aligns with Bangladesh’s ambitious goal of achieving 40% renewable energy by 2040 and reflects China’s willingness to support sustainable development in its partner countries. China has been Bangladesh’s largest trading partner for the past 15 years, a position that continues to strengthen. Bangladesh’s recent eligibility for zero-tariff treatment on 100% of taxable items exported to China marks a new era in bilateral trade relations. This preferential trade arrangement is expected to further boost exports, enhance economic ties, and diversify Bangladesh’s export portfolio. The trade benefits come at a critical juncture as Bangladesh seeks to sustain its economic momentum and integrate more deeply into the global value chain. The relationship between Bangladesh and China entered a new phase during President Xi Jinping’s historic visit to Dhaka in 2016. During the visit, both nations formalized a strategic partnership that included a $24 billion investment commitment from China to finance 27 infrastructure development projects. Simultaneously, Bangladesh became the first South Asian country to join China’s Belt

and Road Initiative. This participation has opened new avenues for development and positioned Bangladesh as a vital partner in China’s global economic and strategic vision. Following the fall of Sheikh Hasina’s regime, a significant wave of anti-India sentiment has emerged among the younger generation in Bangladesh. In the shifting geopolitical landscape, China has swiftly capitalized on the diminishing Indian influence in the country. Beijing’s non-interventionist approach to Bangladesh’s domestic affairs stands in stark contrast to India’s perceived interference, which has fueled discontent. Furthermore, as an economic powerhouse, China holds a strategic advantage, offering financial assistance to Bangladesh in ways India has struggled to match, thereby solidifying its position as a

key player in the region. Bangladesh’s ties with China have always been characterized by mutual respect and shared aspirations for economic growth and development. The strategic partnership forged in 2016 has since evolved into a multifaceted relationship encompassing trade, investment, technology transfer, and infrastructure development. The Padma Bridge Rail Link Project is emblematic of the transformative potential of this partnership. Beyond its immediate economic benefits, it symbolizes the enduring friendship between the two nations. The successful implementation of similar projects in the future will only serve to strengthen this bond further. In Bangladesh, China is seen as a reliable partner that has consistently supported

A delegation of Chinese photovoltaic companies, including representatives from industry leaders such as LONGi Green Energy Technology Co. Ltd., Tongwei Co., Ltd., and Yunnan Show, has already visited key institutions like the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA). This initiative aligns with BangladeshÊs ambitious goal of achieving 40% renewable energy by 2040 and reflects ChinaÊs willingness to support sustainable development in its partner countries.

the nation’s development goals. Unlike many international relationships that falter during challenging times, Bangladeshis view China as a steadfast ally that remains committed to mutual progress. This perception is supported by tangible benefits such as improved infrastructure, increased foreign investments, and expanded trade opportunities. The Chinese government’s willingness to transfer technology and provide training also underscores its commitment to empowering Bangladesh for the long term. Despite the promising trajectory of Bangladesh-China relations, challenges remain. Bangladesh must ensure that Chinese investments align with its long-term development goals and avoid falling into unsustainable debt. Effective governance and transparent project management will be crucial in maximizing the benefits of Chinesefunded initiatives. For China, maintaining goodwill in Bangladesh will require respecting local interests and ensuring that its investments contribute to sustainable development. Collaborative efforts in areas like renewable energy, digital transformation, and skill development can further solidify the relationship. The growing ties between Bangladesh and China offer a model of bilateral cooperation rooted in mutual benefit and shared aspirations. As China continues to invest in Bangladesh’s infrastructure, trade, and renewable energy sectors, it is clear that this relationship is poised to reach new heights. Bangladesh, in turn, must leverage these opportunities to accelerate its journey toward becoming a middle-income country and beyond. With careful planning, transparent governance, and continued collaboration, the partnership between Bangladesh and China will remain a cornerstone of regional prosperity for years to come. China’s commitment to Bangladesh is not merely a gesture of goodwill but a strategic partnership that holds immense potential. As both nations navigate the complexities of global economic and geopolitical landscapes, their enduring friendship stands as a testament to what can be achieved through mutual respect, shared goals, and visionary leadership.

Can Palestinians and Israelis coexist in a single democratic state? Zionism claims that Jews have always been and will always be persecuted. Accordingly, it presents a model for a state exclusive to Jews as the only solution and promotes this apartheid throughout the world

MIDDLE EAST MONITOR

AlAin AlAmeddine And Seth morriSon

EVENTY-SIX years of occupation, ethnic cleansing and settlercolonisation leading up to today’s genocide in Gaza cannot disappear overnight. In light of this, does the historical Palestinian and anti-Zionist Jewish vision for a single democratic state where Palestinians and previous Israelis coexist make any sense? How would such a state guarantee the security of its citizens— wouldn’t previous oppressors and victims be at each other’s throats? Zionism claims that Jews have always been and will always be persecuted. Accordingly, it presents a model for a state exclusive to Jews as the only solution and promotes this apartheid throughout the world by taking advantage of the long history of European anti-Semitism to encourage Jewish immigration to Palestine to leave their societies, cleansing non-Jews from Palestine using different means of violence and even supporting similar identitarian projects in Algeria, Sudan, Lebanon, Syria and other countries. In other words, Zionism claims that violence is inherent to having different identities and that separation is the only solution. The Palestinian liberation movement, on the other hand, has historically declared that violence in the region is the outcome of an oppressive settler colonial project and that dismantling it is the solution. Who is right? Could a democratic state guarantee peace and security for all its citizens? And what do historical cases of colonisation and decolonisation have to teach us?

DISMANTLING COLONIAL RELATIONS OF POWER, ESTABLISHING THE LEGITIMACY OF THE DEMOCRATIC STATE: In Ghassan Kanafani’s Returning to Haifa, the Palestinian child raised by Israeli settlers ended up joining the occupation forces. One could also easily imagine a settler’s son raised by Palestinians joining the resistance. This shows that violence, both the occupiers’ and the occupied’s, results from a political structure rather than any inherent qualities. The fact that over 90 per cent of Jewish Israelis side with the genocide in Gaza and that most Palestinians side with armed resistance is the result of colonial relations of power that were imposed by a colonial state. In other words, the role of the

The Palestinian liberation movement, on the other hand, has historically declared that violence in the region is the outcome of an oppressive settler colonial project and that dismantling it is the solution

decolonial democratic state is not to “inherit” a cohesive society but to build and develop cohesion within it. In the words of Frantz Fanon: “Decolonisation brings a natural rhythm into existence … Decolonisation is the veritable creation of new men.” This required understanding how the settler state imposed colonial relations of power and then determining what policies would dismantle them. The democratic state is a democratising state. For example, the state will grant Palestinians the rights that the Zionist state had deprived them of, particularly the right of return and the right to compensation, without being unjust to Jews. It will implement a model that would be fair to all, regardless of socio-economic status. It will abrogate racist laws such as the Basic Law or Citizenship Law, ensuring that all are totally equal before the law, and will criminalise political Zionism and all kinds of settler colonial ideologies. Instead of having different school curricula for Jews and non-Jews, it will unify the curriculum and will make sure that universal civic values replace Zionist values in it. At the socio-economic level, it will establish a comprehensive safety net with universal free education, universal health care and full equality in hiring and wages, closing today’s income, poverty and education gaps. Previous war crimes will also have to be investigated, although the mechanisms will need to be determined by the future citizens of that state—both Palestinians and their Israeli partners. The state will also have a monopoly on violence, which includes disarming segments of the population that are currently armed. To quote Ner Kitri in his article, “The transition from a Jewish state to true democracy will benefit all”, it will use this monopoly to “protect its citizens’ lives rather than colonial privileges.” Finally, the state will commit not to use its armed forces for expansionist purposes as Israel historically has. As in the cases of Kenya, South Africa and Algeria, which we will discuss in more detail below, deportation will not be on the table. Israelis who feel a genuine connection to the land (be it for religious, cultural or other reasons) will enjoy life as equals in a dezionised Palestine, while those who choose to leave will be able to do so peacefully. By eliminating colonial privileges while guaranteeing rights to all, the new Palestinian state will establish and solidify its legitimacy in the eyes of its society. Crucially,

instead of legitimising its existence on the basis of representing sectarian interests, it will do so on the basis of its functional capacity to administer the affairs of its society and to guarantee its citizens’ rights—rights that Israel denies Palestinians and failed to deliver to Jews. This change—this decolonisation, in the fullest sense of the word—will signal a rupture with Zionism and the global colonial project. The result will be a society where tribal identities will melt away, and citizens will not merely “coexist” but actually live together, the two previous demographic groups forming a single “mosaic of life”, as Ilan Pappe expressed it. This said—is this a realistic vision of what could happen? What does the history of Palestine, as well as historical cases of decolonisation, have to teach us?

VIOLENCE UNDER COLONISATION AND AFTER IT: HISTORICAL EXAMPLES: Palestine has always been the home of Christians, Muslims, Jews, Bahai and observers of many different religions who lived together in peace. Before colonial Zionists, Palestine welcomed non-Palestinians such as Kurds, Armenians, Circassians and European Jews. For example, the Zionist education initiative “TBTN” indicates that there was an: “Important and vital Jewish community in Gaza during the early Muslim period” and that “the Jewish community experienced a period of prosperity under Ottoman rule.” TBTN explains this peace was disturbed on two occasions: First, in 1799, when Jews fled Gaza ahead of Napoleon’s invasion of Palestine: “Marking the temporary end of a Jewish presence in the area.” These Gazans returned in the 19th century and the city was again an “important Jewish centre”. This ended in the 1920s when, following the mass migration of Jews to Palestine and Balfour’s promise to establish “a national home for Jews in Palestine”, riots started throughout Palestine and Gazan Jews fled once again. In both cases, violence was the result of European colonial interference, not of inherent religious or cultural differences. As expressed in the Palestinian letter “To Our Other”: “It is Zionism that has stood in the way of life, common life, on the basis of freedom and fairness.” Some recognise the above and understand that Jews and Palestinians can coexist in a dezionised land but fear that in this specific case—over 76 years of oppression—it will prove impossible for previous oppressors and victims to live together. Feelings of

The writer can be reached at: writetomahossain@gmail.com

Some recognise the above and understand that Jews and Palestinians can coexist in a dezionised land but fear that in this specific case—over 76 years of oppression—it will prove impossible for previous oppressors and victims to live together

supremacy on the one hand and of revenge on the other are to be expected. Interestingly, historical cases of decolonisation seem to reveal a pattern: when the balance of forces tips in favour of the indigenous, a transition that is more or less rough happens, a large number of settlers leave and those willing to let go of colonial privileges remain in peace. In other words, history shows that although the process of liberation can be violent, the liberation actually ends, not increases, violence between previous enemies. Kenya is one such example. The Mau Mau uprising began in the early 1950s and was a significant and violent resistance movement against British colonial rule. After years of unrest and increasing pressure, the British government was forced to negotiate the independence of Kenya with the native liberation movement. The new state promoted a policy of forgiveness and reassured settlers that they could stay and contribute as equals. Many settlers left, fearing reprisals. Those who stayed had to relinquish privileges, particularly regarding land and resource redistribution, but there were zero cases of large-scale revenge. The Évian Accords that ended the French colonisation of Algeria stated that Europeans could depart, remain as foreigners, or take Algerian citizenship. In his article “The Liberation of Palestine and the Fate of the Israelis”, Eitan Bronstein Aparicio explains that following the announcement: “A violent terrorist organisation named OAS (Organisation Armée Secrète or “Secret Army Organisation”) emerged and caused many casualties, mainly Algerians but also anti-colonial French, in an attempt to prevent the liberation of Algeria.” This violence subsided within two months. After which, Aparicio continues: “Most [settlers] chose to leave Algeria. They ran away in panic, out of fear of the day their domination would be over. But in fact, there was no real existential threat to them. They left because they were captive in their own colonial identity. In other words, they could not imagine a situation in which they would live in equality with the Algerians. And they paid a huge price for being uprooted from their home due to their own occupier mentality … [While] 200,000 French decided to stay and live in the liberated Algeria. From their testimonies, we learn that they saw Algeria as their home and had no reason to leave.” The end of apartheid in South Africa followed the same pattern. The negotiations be-

tween the apartheid government and the African National Congress (ANC) were accompanied by considerable violence and unrest, including clashes between rival political groups, police crackdowns and incidents like the Boipatong massacre and the assassination of Chris Hani, a prominent ANC leader. The first democratic elections, however, were marked by a high turnout. The government enacted decolonial policies such as Black Economic Empowerment and land reforms that stripped settlers of a number of their privileges, and settlers who chose to remain as citizens did so peacefully. The Truth and Reconciliation Commission also provided an interesting model, investigating past abuses and allowing perpetrators of human rights violations who provided full disclosure of their actions and demonstrated that their crimes were politically motivated (truth) to apply for amnesty (reconciliation), thus judging the colonial political programme that had caused the crimes rather than the human tools it had used to do so. Other cases of decolonisation seem to follow the same pattern, showing that what we need to fear is not the dismantling of the colonial Israel state or the establishment of a democratic Palestinian state but the unfolding of the transitionary period between them. This danger can be minimised, or even averted, by learning from and improving on the South Africa and Kenya models when the Palestinian liberation movement and their Israeli partners for decolonisation and peace work together on it. The colonised have made it clear, decade after decade, that a democratic state is what we want to see from the river to the sea. They must work to make this vision even clearer to both friend and foe. We invite our other—today’s colonisers—to “upgrade from settlers to citizens”, as our Israeli comrade Kitri beautifully expressed, and to join us in our common fight for freedom for all. “[We were led] to believe we could not live without the nation-state, lest we not only be denied its privileges but also find ourselves dispossessed in the way of the permanent minority. The nation made the immigrant a settler and the settler a perpetrator. The nation made the local a native and the native a perpetrator, too. In this new history, everyone is colonised—settler and native, perpetrator and victim, majority and minority. Once we learn this history, we might prefer to be survivors instead.” — “Neither Settler Nor Native”, Mahmood Mamdani.

06 NEWS

TALIBAN BAN WINDOWS TO PREVENT WOMEN’S ‘EXPOSURE’

KABUL

AGENCIES

HE Taliban rulers of Afghanistan have imposed a ban on the construction of windows that may allow the visibility of women in private spaces or could lead to the exposure of women in neighbouring houses. The new directive, which affects the design of buildings, was issued following a decree from the Taliban’s supreme leader, Hibatullah Akhundzada. According to a statement from the Taliban’s spokesperson, Zabihullah Mujahid, the ban was put in place to prevent potential “improper exposure” that could occur when women are seen performing daily tasks such as gathering water or working in the kitchen. The Taliban’s official X (formerly Twitter) account further emphasised that observing women in these contexts could be deemed inappropriate and offensive.

The statement further instructed that new buildings should be designed without windows that offer views into private areas, such as kitchens, courtyards, wells, or other spaces typically used by women. “If such windows already exist, homeowners are advised to install walls or barriers to prevent any exposure of women’s privacy and to avoid causing inconvenience to neighbors,” the Taliban spokesperson said. Addition-

ally, municipal authorities and relevant government departments have been tasked with ensuring compliance with these new regulations during the construction of new buildings. The Taliban’s decision has been widely criticized by international organizations, including the United Nations, which condemned the policy as “gender discrimination.” Since the Taliban’s return to power in August 2021, women’s rights in Afghanistan have faced significant restrictions. Girls’ education, women’s employment, and the presence of women on television have all been severely limited. Women’s beauty salons, gyms, and public spaces where they may speak loudly or sing are also under strict prohibition. Despite facing widespread condemnation from the West and global institutions, the Taliban maintains that its policies are in line with Islamic principles and are intended to protect the rights of both men and women in Afghanistan.

Pakistan’s Maritime Strategy: Enhancing Regional Security and Geopolitical Influence through AMAN-25 and Multinational Cooperation ALI AHMED

Pakistan’s strategic position in South Asia, with a coastline that stretches over 1,000 kilometers along the northern edge of the Arabian Sea, places it at the heart of some of the world’s most crucial trade and energy transit routes. Its access to the Gulf of Oman, the Gulf of Aden, and the Persian Gulf not only makes it a key player in international commerce but also underscores its pivotal role in the global energy supply chain. The significance of Pakistan’s location is heightened by its proximity to the Strait of Hormuz, one of the world’s most critical chokepoints for oil shipments. With much of the world’s energy trade passing through this narrow passage, Pakistan's role in securing these maritime routes cannot be overstated. The Strait of Hormuz is an essential artery for global oil trade, and Pakistan’s access to it gives the country the opportunity to exert significant influence over global energy flows. More than just an energy transit route, Pakistan’s location

offers an important gateway for trade between Central Asia, the Middle East, and the rest of the world. This geographic advantage gives Pakistan a considerable strategic edge, not only in regional politics but in the global geopolitical arena as well. The country’s two major ports, Karachi and Gwadar, are central to its maritime strategy. Karachi is Pakistan’s largest port and handles a significant share of the country’s cargo traffic, while Gwadar, with its deepwater capabilities, is being developed to serve as a major transshipment hub. Gwadar’s location, near key shipping lanes, positions it as an increasingly important node for energy transit between the Persian Gulf and China, as well as a crucial link connecting Central Asia to global markets. Under the China-Pakistan Economic Corridor (CPEC), Gwadar’s strategic importance is amplified, with the port being developed to serve as a key part of the growing China-Pakistan trade network.

Tuesday, 31 December, 2024 | LAHORE

CORPORATE CORNER IESCO CEO and CDA Chairman discuss enhanced cooperation and measures against electricity theft ISLAMABAD

STAFF REPORT

The Chief Executive Officer (CEO) of Islamabad Electric Supply Company (IESCO) met with the Chairman of the Capital Development Authority (CDA) and Chief Commissioner Islamabad, Muhammad Ali Randhawa, at the CDA Headquarters on Monday. Chairman CDA welcomed the CEO of IESCO and his team. During the meeting, both sides agreed to enhance mutual cooperation and improve coordination between the two institutions.During the meeting, matters related to electricity theft, illegal connections, and the measures to prevent electricity theft were also deliberated. Chairman CDA, Muhammad Ali Randhawa highlighted the need for effective coordination to address electricity theft and ensure its prevention.

MDCAT retake exam smoothly conducted by Szabmu under supervision of PM&DC ISLAMABAD

STAFF REPORT

The Medical and Dental College Admission Test (MDCAT) retake exam has been conducted smoothly today on 30th December on the orders of the Honorable High Court by Shaheed Zulfiqar Ali Bhutto Medical University (SZABMU) for aspiring medical and dental students.The MDCAT retake exam was held today with the highest standards of transparency and efficiency, ensuring a fair and impartial examination process. The examination took place simultaneously at 27 national and international centers, two international centers in Dubai (UAE) and Riyad (Saudi Arabia) and twenty-five (25) in Pakistan in Islamabad, Rawalpindi, Gilgit Baltistan, Rawalakot, Muzaffarabad, and Mirpur, accommodating over 12 thousand candidates.Almost 60 candidates from Dubai (UAE), 64 Candidates from Riyad (Saudi Arabia),211 from Rawalpindi, 10428 from Islamabad,329 from Gilgit Baltistan, 400 from Rawalakot, 447 from Muzaffarabad, 629 from Mirpur appeared in the exam.

Tuesday, 31 December, 2024 | LAHORE

CORPORATE CORNER

JS Bank Launches Priority Banking Services Nationwide

KARACHI STAFF REPORT

JS Bank, recognized as one of Pakistan’s fastestgrowing financial institutions, has announced the launch of its Priority Banking services, a tailored offering designed to meet the diverse needs of its most valued clients. The initiative underscores the bank’s commitment to delivering personalized solutions for an elevated banking experience.The new Priority Banking services provide exclusive benefits, including access to dedicated relationship managers, expert financial guidance, and streamlined banking processes. Catering to frequent travellers, the offering also includes complimentary VIP access to airport lounges, for convenience and comfort while on the move.This service balances the demands of modern banking with a human touch. Digital-first clients can enjoy a seamless, paperless banking experience backed by advanced technology and end-to-end digital solutions. At the same time, the bank remains focused on personalized service, offering tailored financial propositions and a dedicated team to enhance client relationships and deliver a more rewarding experience.

PC Legacy Skardu: A Stunning New Addition to Pakistan’s Hospitality Landscape Opens in the Skardu Valley SKARDU, GILGIT-BALTISTAN STAFF REPORT

The Pearl-Continental Hospitality Division of Hashoo Group, one of Asia’s leading hospitality service providers, in partnership with renowned orthopedic surgeon Dr. Syed Imran Ali Shah, proudly announces the opening of PC Legacy Skardu, an upscale hotel poised to redefine the hospitality landscape in the region and open new avenues for tourism in Skardu.Located just minutes from Skardu International Airport, the hotel offers unparalleled convenience for travelers from both within Pakistan and abroad, thanks to direct flights connecting many countries to the region. With a dedicated 24/7 airport shuttle service, guests can step off their flights and immediately experience luxurious surroundings, making PC Legacy Skardu an ideal destination for both domestic and international tourists seeking adventure or relaxation in one of the world’s most scenic destinations.

Federal Minister Riaz Pirzada Inaugurates Activity Room, Electric Cartat Sundas Foundation’s Thalassemia Centre

LAHORE

STAFF REPORT

Minister Punjab HIEF Maryam Nawaz Sharif met UAE Ambassador to Pakistan H.E. Hammad Obaid Ibrahim Al-Zaabi to discuss economic cooperation, development projects and promotion of tourism in Punjab. She agreed to a proposal to establish a working group between Punjab and UAE to take bilateral cooperation to a higher level, and invited the UAE investors to invest in Punjab. She assured special incentives and conducive environment for the UAE investors. Chief Minister Maryam Nawaz Sharif appreciated UAE’s support in Pakistan’s socio-economic development. She

said,”We value UAE’s support in infrastructure, health, education and energy sectors.” She added,”Pakistan-UAE relations are based on mutual trust and respect.” She highlighted,”Pakistan and UAE share the same vision for regional stability and prosperity.” UAE Ambassador H.E. Hammad Obaid Ibrahim Al-Zaabi congratulated Madam Chief Minister on her successful visit to China, and praised her for the ongoing development projects and her climate change-related initiatives. He said,”UAE wants a developed Pakistan and stands by the government and people in this journey.” He added,”We want to work on more projects in Pakistan.” He underscored,”Punjab Government is committed to promoting sustainable development through public-private partnership.”

Punjab CM launches historic initiatives for people of Punjab in one year: Azma Bokhari LAHORE

STAFF REPORT

Punjab Information Minister Azma Bokhari had said that one year has been completed under the leadership of Chief Minister Maryam Nawaz in Punjab, during which historic projects have been launched for the people. A "Ramadan Nigahban Package" was introduced, through which, for the first time in history, 6.4 million deserving people received the package at their doorsteps. For the first time in the history of Punjab, the price of bread was reduced, with a 20 kg flour bag now costing up to 1200 rupees. A relief of 54 billion rupees was provided to the public through electricity bill reductions, benefiting 750,000 people. She added that Pakistan’s first public cancer hospital, with 1000 beds, is being built at a cost of 54 billion rupees. Chief Minister

Maryam Nawaz is taking every possible step for the betterment of farmers, launching the "Kissan Card" in Punjab with a budget of 400 billion rupees. So far, farmers have made 30 billion rupees in purchases through this scheme. The Green Tractor Scheme for farmers has been initiated, benefiting 9,000 farmers. The "Apni Chhat Apna

$300 Million arranged and financed by UBL UAE for Govt of Pakistan KARACHI

STAFF REPORT

United Bank Limited (UBL) has arranged and financed a USD 300 million short-term loan for the Government of Pakistan through its UAE and Bahrain branches. UBL boasts one of the largest international footprints amongst Pakistani banks, with its international assets exceeding USD 2.4 Billion. This deal reaffirms UBL’s ability to offer clients seamless and reliable solutions, both in Pakistan and abroad. UBL enjoys a strong track record of successfully executing complex and highvalue transactions. This transaction supports Pakistan’s external financing needs, in-line with commitments to the International Monetary Fund (IMF). As Pakistan continues to improve its economic outlook, UBL is committed to play a role as a trusted partner in fostering sustainable economic progress and dedicated to maintaining the highest standards of service and innovation.

KE submits request for November FCA as relief of PKR 4.98 per kWh KARACHI

STAFF REPORT

ISLAMABAD STAFF REPORT

Federal Minister for Housing and Works Mian Riaz Hussain Pirzada visited the Thalassemia Centre of Sundas Foundation in F-9 Park Islamabad. He inaugurated the Activity Room established for thalassemic children and the electric cart donated by Allied Bank to facilitate the transportation of children from the outer gate. The Minister, while addressing the ceremony as chief guest, deeply praised the selfless work of the foundation that being a pioneer non-profit organization of its nature, is providing free-of-cost blood transfusion services to thousands of children countrywide. He admired the spirit of senior management to serve humanity.

K-Electric submitted provisional monthly fuel charge adjustments (FCA) request for November 2024, to be translated as relief of PKR 4.98 per kWh for customers. Following a public hearing scheduled for January 15, 2025, the National Electric Power Regulatory Authority (NEPRA) will issue a decision clarifying the FCA amount to be passed on to customer bills and the period for which they will be applicable.On account of November FCA, The Central Power Purchasing AgencyGuaranteed (CPPA-G) has sought negative adjustment of 0.63 paisa per unit in XWDiscos’ tariffs. It is pertinent to note that this is the third consecutive FCA being passed on as a benefit to KE customers, with September FCA as 0.16 paisa, and October FCA as 0.27 paisa.Fuel charge adjustments are incurred by utilities due to global variations in fuel prices used to generate electricity, and the changes in generation mix. When fuel prices rise, adjustments are reflected in bills, and similarly, when fuel prices decrease globally.

As global maritime security continues to be challenged by evolving threats, the Pakistan Navy prepares to host the next iteration of the biennial multinational naval exercise, AMAN, scheduled for February 2025. Known for promoting peace, cooperation, and security, Exercise AMAN has become a beacon of collaboration in the Indian Ocean region, drawing participation from naval forces around the world. Since its inception in 2007, Exercise AMAN has aimed to foster an environment where regional and extra-regional navies unite under the common flag of peace. With representatives from over 50 countries attending AMAN 2023, the event saw one of

its most diverse contingents to date, illustrating the exercise’s growing importance on the world stage. Each participant brings its own expertise, enhancing the exercise’s ability to address a wide range of issues, from counterpiracy operations to disaster response. The next AMAN exercise, with a theme cantered on “Together for Peace,” will take place in the waters off Karachi, providing an open platform for collaboration, as well as strategic engagement between nations. Pakistan Navy’s hosting of the event is a testament to its commitment to regional stability and serves as a call for unity in times of division. Pakistan’s geographical position places it at the heart of one of the world’s busiest maritime routes, making the country a criti-

Ghar" Program was introduced to provide interest-free loans of up to 1.5 million rupees to deserving individuals. 27,000 bicycles were distributed to students based on merit, with plans to increase this number to 100,000 next year. She further mentioned that the Roshan Gharana Program was launched, under which 100,000 households will receive free solar panels, and the process has already begun. In a press conference at DGPR, she said that Maryam Nawaz, unlike other provincial chief ministers, has not remained in any administrative post but has proven through her performance that holding a position or resources is not necessary for running administrative affairs. She further remarked that Allah sent Maryam Nawaz as a saviour for the people of Punjab. Chief Minister Maryam Nawaz is serving the public day and night as a mother, sister, and daughter.

Legal Aid Society and Directorate of Legal Education, Pakistan Sign MoU to Enhance Legal Education in Pakistan

Chairperson BISP seeks Australian collaboration for imparting Skill Training to youth

ISLAMABAD STAFF REPORT

Benazir Income Support Programme (BISP) Chairperson Senator Rubina Khalid met with Mr. Ali Murtaza, Vice President of the Pakistan Association of Australia, to explore avenues for enhancing skill development opportunities for BISP beneficiaries. The meeting focused on connecting deserving individuals with high-quality training institutions, both domestically and internationally, to equip them with skills that are in demand in the local and global job markets. Mr. Iftikhar Hussain Sherazi, Bureau Chief Dawn News was also present in the meeting.Senator Rubina Khalid stressed the importance of empowering BISP beneficiaries through skill development. "Our aim is to enable individuals to become self-reliant," she stated. "Providing them with quality training that aligns with market demands will not only help them secure suitable employment opportunities but also improve their economic conditions."Mr. Ali Murtaza assured Senator Rubina Khalid of his full support in facilitating skill training opportunities for BISP beneficiaries in Australia. He presented the Chairperson with a shield as a gesture of goodwill.

CTD Islamabad exhibited ideal performance in 2024

KARACHI STAFF REPORT

The Legal Aid Society (LAS) and the Directorate of Legal Education (DLE) of the Pakistan Bar Council have formalized a partnership aimed at elevating the standards of legal education across the country. The Memorandum of Understanding (MoU) was signed today at the Pakistan Bar Council’s Committee Hall in the Supreme Court Building.LAS, founded in 2013 by Justice Nasir Aslam Zahid, is a non-profit organization dedicated to serving marginalized and underprivileged communities by reducing challenges in accessing justice. Under CEO Barrister Haya Eman Zahid, LAS has launched initiatives like NAZ Assist, Pakistan’s first multilingual legal advisory chatbot.

Tax Shortfalls May Further Hurt the Looming Economy ISLAMABAD

STAFF REPORT

The federal government’s failure to expand its tax net and curb tax evasion has resulted in a tax shortfall that may widen to around Rs 400 billion by the end of December. According to reports, this tax shortfall could further increase by Rs 50–60 billion in December alone, following the Federal Board of Revenue's (FBR) failure to meet its target for the July–November period which fell short by Rs 341 billion despite imposing record taxes exceeding Rs 1.5 trillion in the budget.This alarming decline underscores the growing financial strain on Pakistan’s economy.

Exercise AMAN: A Strive for Peace MAHEEN MIRZA

MARYAM VOWS TO COLLABORATE WITH UAE IN AGRICULTURE, IT, GREEN ENERGY SECTORS NEWS

cal player in regional security. Recognizing this, the Pakistan Navy has stepped up its contributions to global maritime security, currently commanding the Combined Task Force (CTF) 150—a coalition dedicated to countering terrorism, illicit activities, and illegal trafficking at seas. This command role underscores Pakistan’s commitment to safeguarding vital sea lanes that connect economies worldwide. In the broader context, Exercise AMAN exemplifies the Pakistan Navy’s proactive approach in building a secure maritime environment. Through its role in various Humanitarian Assistance and Disaster Relief (HADR) missions—such as its recent support to earthquake-hit regions in Syria and Turkey—the Navy has shown a consistent

ISLAMABAD STAFF REPORT

52 intelligence-based and 141 search operations conducted. 565 social media accounts involved in promoting linguistic, sectarian and religious extremist content were blocked. Upon assuming command, Inspector General of Police (IGP) Islamabad, Syed Ali Nasir Rizvi, implemented several new reforms in the Islamabad Police Counter Terrorism Department (CTD). Due to these reforms, the performance of CTD Islamabad improved compared to previous periods. CTD Islamabad conducted 52 intelligence-based operations and arrested 46 accused in order to maintain law and order and eradicate crime in 2024. During these operations, 1,480 grams of explosives, 10 detonators, and 10 feet of safety fuse wire, two meters of prima cord, eight grenades, mortar shells, IEDs, one space mine, 2,640 grams of ball bearings, nuts, bolts, five pistols, and a Kalashnikov with ammunition were recovered. Similarly, during 141 search and combing operations, 9,378 houses were searched, details of 12,427 persons were checked, and 4,966 vehicles and motorcycles were inspected.

dedication not only to combat threats but to respond compassionately to crises. AMAN’s objectives go beyond conventional maritime security to include preparation for HADR missions, a pressing need given the frequency of natural disasters in the region. By focusing on joint response drills, AMAN allows participating countries to share best practices and prepare for emergencies, ensuring that collective relief efforts are efficient and coordinated. The success of Exercise AMAN extends to the realm of naval diplomacy, where it serves as a platform for building goodwill among countries with varied political interests. AMAN’s multinational structure allows countries to engage in dialogue, build trust, and work toward common goals, ultimately

reinforcing diplomatic relations. Pakistan Navy’s continuous efforts in organizing this exercise underscore its vision of peaceful cooperation in the maritime domain. As AMAN 2025 approaches, the Pakistan Navy is gearing up to welcome allies and partners for yet another iteration of this iconic exercise. The event will include strategic meetings, maritime drills, and cultural exchanges, all designed to bridge differences and unite efforts in pursuit of peace. In a world faced with mounting maritime challenges, Exercise AMAN shines as a beacon of hope and unity. Through it, the Pakistan Navy reaffirms its role as a champion of stability, determined to foster cooperation and build a secure maritime future for generations to come.

DEADLY MOTORWAY ACCIDENTS IN PUNJAB AND SINDH CLAIM 18 LIVES, 35 INJURED NEWS

LAHORE

STAFF REPORT

T least 18 people were killed and 35 others injured in two separate accidents on Monday morning. A van and truck collided near Moro city in Sindh, while a bus overturned in Punjab’s Attock district, both incidents highlighting the recurring issue of fatal road accidents in Pakistan. In Punjab’s Attock district, a bus overturned at the Fateh Jhang Interchange on the M-14 Motorway, claiming the lives of 10 passengers and injuring 22 others. According to Rescue 1122, the bus was a Yutong vehicle traveling from Mianwali to Rawalpindi. The accident occurred at 8:08 am, prompting the dispatch of six vehicles and 14 rescuers to the scene. The bodies and injured passengers were transferred to nearby hospitals in Attock. Rescue 1122 officials stated that overspeeding was the probable cause of the accident. This crash follows a similar incident on Saturday, where 10 people were injured

when a bus overturned while attempting to avoid a tractor-trolley in Sahiwal. That same day, another tragedy occurred in Faisalabad, where a family of seven from Lahore died in an accident caused by dense fog on the M-3 Motorway. Over the past weeks, a series of road accidents have claimed numerous lives, including a fatal car crash in Lodhran that killed a couple and seri-

Barrister Saif criticises Tarar for misrepresenting provincial finances

Construction phase of Chashma Nuclear Power Plant Unit 5 commences CHASHMA

STAFF REPORT

PESHAWAR

STAFF REPORT

Khyber Pakhtunkhwa (KP) Adviser on Information, Barrister Dr. Saif, has accused Federal Minister Atta Tarar of copying the federal government’s white paper and attributing it to KP’s financial affairs. Reacting to Atta Tarar’s recent remarks, Barrister Saif stated that Tarar often makes statements that expose his incompetence. He mocked Tarar’s comments on KP’s economy, claiming they had amused seasoned economists. Barrister Saif clarified that KP’s total debt stood at PKR 725 billion, which matches the amount the federal government borrows on a monthly basis. He added that during Shehbaz Sharif’s two-year tenure, Pakistan’s debt surged by PKR 27 trillion, and KP’s debt has increased largely due to federal mismanagement. He further explained that the devaluation of the rupee and rising foreign currency rates under the current federal administration have added nearly PKR 350 billion to the province’s debt, which would otherwise have been limited to PKR 400 billion. Highlighting provincial achievements, Barrister Saif noted that over 780,000 patients have been treated under the Sehat Card program in the last nine months.

128 children dead in Parachinar due to lack of resources, says ex-minister LAHORE

STAFF REPORT

ously injured their children. Meanwhile, in Sindh’s Naushahro Feroze district, a truck and van collided on the M-6 Motorway near Moro, resulting in eight deaths and 13 injuries. The accident occurred when the van, returning from a wedding in Hyderabad, collided with the truck. The truck driver fled the scene, and the condition of the van driver remains

unclear. Naushahro Feroze District Commissioner Arsalan Saleem confirmed the casualties, noting that one of the injured later succumbed to their wounds, raising the death toll to eight. Ten of the injured are in critical condition and were transferred to Nawabshah for further treatment. Sindh’s Chief Minister Murad Ali Shah expressed his condolences to the families of the victims and instructed that the injured receive the best possible medical care. He also urged drivers to exercise caution on the roads. The Chief Minister further called on the federal government to install additional lighting and reflective signals along the National Highway, Indus Highway, and the Superhighway to improve safety. This latest incident in Sindh follows a deadly crash last month, when a fastmoving dumper truck killed a college professor and his wife on the M-9 Motorway. According to reports, numerous traffic accidents have occurred on Pakistan’s highways, including a particularly hazardous section of the Indus Highway, where 115 people lost their lives in the past four years.

Former federal minister Sajid Hussain Turi revealed on Sunday that the ongoing conflict in Parachinar, which has lasted nearly three months, has resulted in the deaths of at least 128 children due to a severe shortage of essential resources. Since violent tribal clashes broke out in Kurram district in November, the region has been effectively cut off from the rest of Pakistan. Roads, including the key Parachinar-Peshawar highway, have remained closed due to continuous violence. The violence escalated following an attack on a vehicular convoy in the Bagan area on November 21, which left at least 50 people dead. Despite the blockade, the federal government successfully transported one tonne of medical supplies to Parachinar by helicopter on December 27. According to an official statement, the same helicopters also evacuated sick individuals, taking them to Islamabad for urgent medical treatment. The conflict, which has claimed over 100 lives, intensified after two individuals were killed and decapitated in the Bagan area while traveling toward Parachinar. A grand jirga involving tribal elders and local officials convened in Kohat to mediate the situation, but no agreement was reached following multiple discussions. Meanwhile, protests in the area have continued for more than 10 days. In an interview with DawnNewsTV, Turi reported that at least 37 children had died at the district headquarters hospital in Kurram, with the total number of child fatalities in the region rising to 128 when factoring in all hospitals. These deaths are primarily attributed to the shortage of medical supplies and resources, which has plagued the region for the past 85 days.

Pakistan Atomic Energy Commission achieved a major milestone in the construction of Chashma Nuclear Power Plant Unit 5 (C-5) as the project construction made steady progress and moved on to formal construction phase with start of concrete pouring. The landmark event was graced by Mr. Ahsan Iqbal, Minister for Planning, Development & Special Initiatives, Chinese Ambassador, Mr. Jiang Zaidong and other Chinese and Pakistani dignitaries here at Chashma, Mianwali, Punjab. Dr. Raja Ali Raza Anwar, Chairman Pakistan Atomic Energy Commission highlighted the contributions of Nuclear Power being clean and economical source of energy and stressed its importance for country’s energy security. Pakistan’s journey in the field of Nuclear Power is the high point of Pak-China cooperation which dates back to the decade of 1990s. All the six nuclear power plants currently operating in the country have been constructed with the Chinese assistance. Addition of C5, the largest and most advanced

Nuclear Power Plant in the country will add another 1200 MW of clean and economical energy in the national grid increasing nuclear energy to 4760 MW and boost socio-economic development. Addressing the ceremony as chief guest Prof. Ahsan Iqbal said C-5 Project bears testimony to Pak-China friendship which will create thousands of jobs for the people of Pakistan during its execution and will provide clean electricity to the national grid at cheap rates. He further said that it is the need of the hour that Pakistan should strive to become techno-economy. The minister lauded steady

progress made by Pakistan Atomic Energy Commission in use of nuclear technology for providing ideal baseload electricity to the energy mix in the form of nuclear power. He also lauded PakChina cooperation and commended the efforts of everyone involved in the construction of C-5 and appreciated Pakistan Atomic Energy Commission for immaculate safety record, bearing testimony to its commitment to global responsibilities with respect to nuclear safety, environmental protection and peaceful use of nuclear energy.

MWM sit-ins continue in Karachi, day 7 causes major traﬃc disruptions KARACHI

STAFF REPORT

The ongoing sit-ins organized by the Majlis Wahdat-e-Muslimeen (MWM) over the situation in Parachinar entered their seventh day on Monday, leading to severe traffic disruptions across Karachi. The protests have resulted in significant inconvenience for the city’s residents, halting traffic on key roads and disrupting businesses and public services. Despite efforts by the government to address the ongoing road closures, Karachi’s residents continue to face mobility challenges. Reports of delayed flights, missed appointments, and even cancellations of weddings have been widespread due to the blocked roads. Two days ago, Sindh Chief Minister Murad Ali Shah warned that the provincial government would intervene if the inconvenience caused by the sit-ins increased. Karachi Mayor Murtaza Wahab criticized the purpose of the protests, stating that it was intended to disrupt daily life and business, which he argued should be prevented by the government.

Pakistan Peoples Party (PPP) leader Shazia Marri, also speaking out, suggested that MWM shift their protests to Khyber Pakhtunkhwa, where the original Parachinar crisis unfolded. However, this suggestion has not led to any resolution regarding the road blockages in Karachi. Currently, the MWM is holding protests at 13 locations throughout Karachi, including major spots like MA Jinnah Road, Numaish Chowrangi, Shahrah-ePakistan at Ayesha Manzil and Ancholi, and the National Highway near Malir Flyover. Other locations affected include Five Star Chowrangi, Powerhouse Chowrangi, Ahsanabad, Surjani, and Gulistan-e-Jauhar, where road closures continue to impact commuters. However, sitins on Sharea Faisal near Natha Khan Bridge and Malir 15 have been called off. The protests have spread beyond Karachi, with a sit-in also occurring at Lahore’s Davis Road, causing similar traffic disruptions in the city. MWM leader Allama Ahmed Iqbal addressed the protesters, re-

iterating the demand to reopen the Parachinar road, which has been closed for months due to tribal conflict. He emphasized the humanitarian issues arising from the blockade, such as shortages of food and medicine, and called on the government to act urgently. The Sindh government is in regular contact with the protesters, with provincial spokesperson Saadia Javed reporting that authorities have made efforts to clear some of the blocked routes. She also criticised the lack of focus on the Khyber Pakhtunkhwa government’s role in the Parachinar situation, pointing out that MWM’s protests do not have clear demands other than the resolution of the crisis. Javed expressed that the government acknowledges the hardship caused to Karachi’s citizens and assured that action will be taken to resolve the situation. Meanwhile, Kurram’s Deputy Commissioner confirmed that a peace jirga will meet on Tuesday to discuss the roadblock and law and order in the area. A plan for dealing with weapon handovers and resolving the blockade is expected to be presented in the coming days.

Tuesday, 31 December, 2024

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

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ISLAMABAD

A list of 108 gifts received by former Prime Minister Imran Khan during his time in office was presented in the Toshakhana 2.0 case on Monday. The case was heard by Judge Shahrukh Arjumand in a special court at Adiala Jail. Imran Khan appeared in court for the hearing, accompanied by his legal team, including Bushra Bibi, Salman Akram Raja, Barrister Gohar, and Faisal Chaudhry. A key witness from the Cabinet Division, representing the Federal Investigation Agency (FIA), also testified in court. During the proceedings, the witness was

cross-examined by Bushra Bibi’s lawyer, Arshad Tabraiz. The cross-examination is expected to continue in the next hearing, with Khan’s lawyer, Salman Safdar, also set to question the witness. The prosecution submitted the list of 108 gifts received by Imran Khan during his tenure, which was officially recorded by the court along with a register of the gifts. The hearing was adjourned till January 2. Earlier this month, a trial court finally indicted PTI founder Imran Khan and his spouse Bushra Bibi in a case related to alleged violation of the state gift repository – Toshakhana – rules during the former’s term as the prime minister to acquire a precious

jewelry set. Special Judge Central Shahrukh Arjumand read out the charge-sheet against the former PM and his wife in a courtroom inside Rawalpindi’s Adiala Jail, where Imran has been detained for over one year. Both the PTI founder and his wife – who were present in the court – denied the allegations. According to the charge-sheet, Imran misused his position to acquire a Bulgari jewelry set that the Saudi crown prince presented as a gift during the couple’s visit to Saudi Arabia between May 7 and 10, 2021. The set included a ring, bracelet, necklace, and a pair of earrings. According to the evidence gathered during the investigation, Imran and Bushra unlawfully retained the set.

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FIA transfers 18 officials over alleged involvement in Greece boat tragedy ISLAMABAD

STAFF REPORT

The Federal Investigation Agency (FIA) has launched disciplinary proceedings against 18 of its officers implicated in the tragic boat disaster off the coast of Greece. The boat, carrying several Pakistani nationals, capsized while attempting to reach Europe, leading to numerous fatalities and highlighting the dire issue of human trafficking. As part of the initial steps in the investigation, the FIA has transferred 18 officials from its Gujrat, Gujranwala, and Sialkot districts. Among those moved are a subinspector, three assistant sub-inspectors (ASIs), 11 head constables, and three constables. Additionally, two officers stationed at Sialkot Airport’s immigration counter have had criminal cases filed against them in connection with their involvement in the human trafficking operation that led to the disaster. The reassigned officials’ transfer orders have already been issued. Ali Zaidi, the Additional Director of Immigration at Sialkot Airport, has been transferred, with Muhammad Nauman from Kartarpur assigned to take on his responsibilities. The FIA’s investigation into the incident revealed that certain personnel from the agency were actively involved in the illegal human trafficking network, which facilitated the dangerous migration route that ultimately led to the fatal boat accident. As part of ongoing investigations, 38 officers, including inspectors and ASIs from various regions including Karachi, Gujranwala, and Multan, have been summoned to the FIA headquarters to give statements. The Director-General (DG) of the FIA is personally overseeing the inquiry and has warned that severe actions will be taken if the accused officers are found guilty. Additionally, the government has placed the names of 31 FIA officials on the passport control list in relation to their involvement in the Greece tragedy. These officials, including inspectors, sub-inspectors, and other staff, are posted at airports in Faisalabad, Quetta, Sialkot, Lahore, and Islamabad. This measure forms part of broader efforts to disrupt illegal trafficking operations and prevent further tragedies. The incident occurred on November 2023, when a wooden boat carrying a group of Pakistani nationals and other migrants capsized near the Greek island of Gavdos. Several lives were lost, and many others remain unaccounted for. This tragedy once again draws attention to the ongoing issue of human trafficking, where migrants risk their lives on perilous routes in the hopes of reaching Europe. Prime Minister Shehbaz Sharif has expressed his deep concern over the tragedy and the failure to take adequate preventive actions after a similar incident earlier in 2023, in which 262 Pakistanis died in another boat disaster. Sharif has called for stronger measures to combat human trafficking networks and prevent further incidents. His comments emphasized that Pakistan’s global reputation has been tarnished by these tragedies, and more decisive actions are needed to dismantle trafficking rings and protect vulnerable individuals. The Sindh High Court (SHC) has agreed to expedite the hearing of a petition filed by the FIA officials implicated in the case, challenging the disciplinary measures being taken against them. In the broader context of migrant deaths, a report by Spanish NGO Caminando Fronteras has revealed the alarming scale of the crisis. According to their findings, approximately 30 people die every day while attempting to cross the Mediterranean to reach Spain, with more than 10,000 migrant deaths recorded over the past year. Among these fatalities, a significant number were Pakistani nationals, illustrating the dangerous lengths to which people are going in search of better opportunities in Europe. The FIA’s actions are part of a larger commitment to tackle human trafficking and ensure justice for those affected by this global issue. With mounting pressure both locally and internationally, the Pakistani government’s response to the Greece tragedy and similar incidents will be closely watched as efforts continue to curb the illegal migration crisis.

List of gifts received by Imran Khan during premiership filed in court STAFF REPORT

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Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk