Pakistan’s economy on right track: Aurangzeb
Pakistan seeks Belarusian exper tise for tractor manufacturing plant, eyes stronger trade ties
who led a Pakistani delegation, engaged in discussions with Belarusian Minister of Transport and Communications Alexei Lyakhnovich, focusing on strengthening bilateral trade relations and enhancing road connectivity projects The talks emphasized the potential for improved access to European and Central Asian markets through better road networks, a strategic move that could boost trade between the two regions “Belarus holds a strategic geographic position for trade and Pakistan is keen to strengthen collaboration particularly in the communications sec-
tor ” Khan said adding that his visit was highly productive and would bring mutual benefits He expressed hope that an upcoming visit by Pakistan s prime minister to Belarus would further solidify the partnership Khan also invited Belarus to invest in Pakistan’s motorway infrastructure Minister Lyakhnovich welcomed the Pakistani delegation reaffirming Belarus commitment to expanding cooperation in various sectors He highlighted the importance of continued high-level exchanges between the two countries noting that such visits could expedite development efforts During the visit Khan and his delegation toured a Belarusian tractor manufacturing plant in Minsk, which has been operational for 75 years The plant produces over 62 models of tractors and vehicles with an annual production capacity of 50 000 units It exports its products to several countries including Ukraine Azerbaijan
The delegation was briefed on the
s environmentally friendly production processes and advanced technology Khan expressed interest in replicating the Belarusian model in Pakistan recognizing its potential to improve the country s agricultural machinery sector Pakistan is eager to establish a similar tractor plant and benefit from Belarus expertise,” he remarked Belarusian officials provided the delegation with a comprehensive tour of the facility addressing their queries on operations and export potential
markets Friday alone saw a record-breaking 26 79 billion shares change hands on U S exchanges, surpassing the previous record of 24 48 billion shares traded on January 27, 2021 By the close: n Nasdaq fell 962 82 points (-5 82%) to 15 587 79 marking a bear
n Dow Jones sank 2,231 07 points (-5 50%) to 38,314 86, confirming a correction from its all-time high of 45,014 04 on December 4 n S&P 500 lost 322 44 points (-5 97%) to finish at 5 074 08 its lowest close in 11 months
The market is clearly voting against these policies How bad it gets now depends on how far the administration is willing to go, said Steve Sosnick, chief strategist at Interactive Brokers
and
a downturn by yearend, compared to 40% previously Federal Reserve Chair Jerome Powell made his first public comments since the tariff announcement warning that the unexpectedly large levies could stoke inflation and slow growth presenting a complex challenge for U S monetary policy The flight to safety drove yields on the 10-year U S Treasury note below 4%, further pressuring bank stocks The S&P Banks Index dropped 7 3% on Friday alone All 11 sectors in the S&P 500 ended the day down more than 4 5% The energy sector led losses for the second consecutive day falling 8 7% in tandem with a 7 3% plunge in U S crude oil prices For the week, the S&P 500 dropped 9 1%, Dow Jones lost 7 9%, and the Nasdaq tumbled 10% “We’re in the Wild West of a trade war right now,” said Mariam Adams managing director at UBS Wealth Management capturing the mood on Wall Street as investors brace for further volatility
N i to r N g
s k The Evacuee Trust Property Board (ETPB) has successfully recovered Rs463 3 million from various districts in rent and lease payments related to its properties As per media reports, the recovery was made from several districts, with notable amounts collected from Lahore-1, Peshawar, Sukkur, and Karachi Urban and Rural areas Lahore-1 led the recovery efforts with Rs136 4 million followed by Peshawar with Rs118 7 million and Sukkur with Rs94 6 million Other districts contributing to the recovery include Karachi Urban and Rural with Rs48 5 million, Rawalpindi with Rs46 million, and Lahore-2 with Rs49 million A total of Rs1 71 billion in dues is still pending with the ETPB having recovered approxi-
mately 27% of this amount In addition to these larger recoveries, smaller amounts were collected from districts including Multan (Rs42 million), Sahiwal (Rs10 million), Layyah (Rs10 4 million) Sialkot (Rs10 4 million) Sargodha (Rs4 8 million) Gujarat (Rs27 9 million) and Bhakkar (Rs11 million) Other areas such as Gujranwala Faisalabad Sheikhupura Okara Kasur and Bahawalpur also contributed to the overall recovery
However, progress remains stalled in three cities Jhang, Hyderabad, and Quetta where no recovery has been made The outstanding dues for these cities are Rs40 3 million for Jhang Rs70 97 million for Hyderabad and Rs10 09 million for Quetta The ETPB continues to work on recovering the remaining dues, which total Rs1 24 billion, in order to address the full scope of its financial liabilities
ATT h e B l i n d a n d D e a f E l i t e Pu t t i n g p e
faced significant challenges largely stemming from the elite s focus on short-term gains As a prime example of a rentier state, Pakistan relies heavily on foreign aid and remittances rather than fostering a robust internal economy The country has endured multiple financial crises necessitating several International Monetary Fund (IMF) bailouts that underscore the failure of the elite to implement meaningful economic reforms Each economic setback not only highlights the inadequacies of the ruling class but also deepens the cycle of dependency on external financial assistance Moreover the elite’s focus on maintaining their privileges has resulted in stark social inequalities Access to quality education healthcare and employment opportunities remains limited for the majority of Pakistanis The education system, in particular, has suffered from neglect, with the elite often opting for exclusive institutions while the masses are left with inadequate options This educational divide perpetuates a cycle of poverty and disenfranchisement ensuring that the elite remain insulated from the struggles faced by ordinary citizens
The persistence of elite capture in Pakistan has stifled the emergence of a robust civil society capable of holding power to account The voices of dissent have often been marginalized with activists and journalists facing repression for challenging the status quo In an environment where the elite are blind to the needs of the populace, the potential for grassroots movements to effect change is severely hampered The current geopolitical landscape has further complicated Pakistan’s situation as the country has become embroiled in great-power rivalries often playing a proxy role in larger global conflicts The relationship with the USAs char-
acterized by transactional engagements rather than mutual respect for democratic principles and the rule of law exemplifies this issue The elite’s willingness to align with foreign powers for short-term gains has often come at the cost of national integrity and sovereignty leaving the populace to bear the brunt of these decisions
The ongoing situation in regions like Baluchistan serves as a testament to the elite’s blindness and deafness to the grievances of ordinary citizens The province rich in resources yet plagued by poverty and underdevelopment has become a focal point for discontent The local population s demands for rights representation, and equitable resource distribution have frequently been ignored by those in power, highlighting the elite’s systemic disconnection from the realities of governance
For Pakistan to escape its status as a failing state it must dismantle the existing system of elite capture and establish a framework based on genuine democracy, the upholding of the constitution, and the rule of law This requires a complete reversal of the current path, necessitating a new social contract that prioritizes the needs of all citizens over the interests of a privileged few Only through such a transformation can Pakistan hope to build a cohesive national identity and foster a sense of belonging among its diverse populace
The elite capture of Pakistan has played a calamitous role in shaping the country’s trajectory since independence Their disconnection from the realities faced by ordinary citizens has contributed to a range of crises from political instability to economic dependency As Pakistan grapples with these challenges, it is essential for the elite to acknowledge their responsibilities and engage meaningfully with the populace Without such a shift, the prospects for a stable and prosperous Pakistan remain bleak as it is trapped in a cycle of failure that can only be broken through comprehensive reform and a commitment to the principles of democracy and justice
The author is a senior international banker, with degrees in economics and political science from University of Pennsylvania and Brown University
Midlife crisis in corporate Pakistan
AzhAr DogAr
AS Bangladesh finds itself on the tip of another critical juncture in its turbulent political history the country is struggling with a question that will shape its political landscape for years to come: Should the Awami League, the party that dominated its politics for over a decade and a half, be banned outright from participating in the democratic process? The political and ethical dilemmas surrounding this question have generated intense debate among politicians analysts and citizens alike The government s perception, as articulated by Chief Adviser Dr Muhammad Yunus, is not to ban the Awami League despite growing calls from the Jatiya Nagorik Party (NCP) and youth movements and has only deepened the crisis This moment in Bangladesh s politics is not simply a question of partisan disagreement It represents a crisis of democratic legitimacy, transitional justice, and state stability Juan J Linz and Alfred Stepan, in their influential work Problems of Democratic Transition and Consolidation argue that a functioning democracy requires not only formal institutions but also democratic commitment from major political actors The crisis in Bangladesh today illustrates what Linz and Stepan described as “democracy without democrats ” Many of the country’s key political stakeholders whether in the ruling interim government Jamaat-e-Islami or the emergent NCP appear committed less to the principles of democratic pluralism and more to political exclusionism
The call to ban the Awami League rests on charges of genocide and crimes against hu-
manity committed during the July movement and in prior years under Sheikh Hasina s administration While the demand for accountability is justified within the framework of transitional justice, the outright banning of a major political party raises difficult questions about pluralism and the minimum conditions of democratic competition Political theorist Giovanni Sartori in Parties and Party Systems (1976), warned that excluding large constituencies from the political process could lead to “delegitimization” of the entire system rendering elections meaningless as vehicles for consensus and representation
According to reports the BNP and the Jamaat-e-Islami have tactically refrained from supporting an outright ban, aware that the international community frowns upon such draconian measures Large democracies in the West, as well as the United Nations fact-finding mission have signaled clear disapproval of banning any political party As Linz famously remarked Exclusion breeds radicalization The Awami League, even if tainted by accusations, still commands support from a significant proportion 30 to 40 percent of the population according to Army Chief quotations cited by Asif Mahmud Ignoring or suppressing such a constituency risks breeding alienation and potentially violent insurgency
The demands for holding Awami League leaders accountable are rooted in what Ruti Teitel terms “transitional justice,” which she defines in Transitional Justice (2000) as “the conception of justice associated with periods of political change characterized by legal responses to confront the wrongdoings of repressive predecessor regimes While the trial of war crimes and crimes against humanity is legitimate and necessary for social healing, the danger lies in instrumentalizing justice for political gain
The chief adviser s announcement that certain Awami League leaders will face justice possibly at the International Criminal Court (ICC), seems an attempt to balance demands for accountability with the pressures of maintaining political inclusion Yet, this selective approach risks falling into what Teitel identifies as “extraordinary justice ” which often undermines legal norms and may erode public trust in impartial judicial processes The concern articulated by the experts
that the youth-led NCP is pursuing the wrong strategy by calling for executive orders rather than building public consensus and following due process echoes the caution of political theorists who emphasize the need for legitimacy in transitional justice mechanisms As Priscilla Hayner notes in Unspeakable Truths (2011) “Justice that is not perceived as legitimate fair and impartial can perpetuate grievances and hinder reconciliation
Bangladesh s current crisis also demonstrates the fraught relationship between military and civilian power The July movement, the subsequent involvement of security forces in politics and the military’s apparent ambivalence about the role of the Awami League highlight a dangerous politicization of the armed forces Samuel Huntington s classic work The Soldier and the State (1957) argued that military professionalism requires strict separation from political engagement Yet in Bangladesh, military actors have become central players in shaping political outcomes from the appointment of Dr Yunus as chief adviser to alleged proposals for rehabilitating the Awami League presented in cantonment meetings, as reported by Hasnat Abdullah Security analysts warn that dragging the army into political discourse risks undermining civil-military relations and destabilizing state security Now is not the time for division but for integration History shows that when military institutions become arbiters of political legitimacy, democratic institutions tend to erode, as seen in Pakistan and Egypt
The heightened military presence in Dhaka from Baitul Mukarram to Shahbagh raises further concerns about the balance of power between democratic institutions and coercive apparatuses As political scientist Ayesha Jalal has observed in The State of Mar-
Political scientists Arend Lijphar t and Donald
tial Rule (1990), reliance on military force to maintain public order often signals institutional decay rather than democratic consolidation At the heart of Bangladesh s current political impasse lies a deeper existential question: Who represents the nation? Benedict Anderson’s concept of the imagined community suggests that nationhood is a shared narrative constructed through common institutions and participation Yet Bangladesh s post-independence political trajectory has been flawed by contested narratives of legitimacy and betrayal whether over the role of the Awami League, Jamaat-e-Islami, or the BNP The NCP’s rhetoric casting the Awami League as a “genocidal party” and calling for its exclusion appeals to a moralistic narrative of purification But as political theorist Chantal Mouffe argues in The Democratic Paradox (2000) the health of democracy lies in the ability to transform antagonism into agonism an adversarial relationship in which opponents recognize each other ’s legitimate right to exist and compete
The politics of exclusion not only risks delegitimizing the democratic process but also
and institutional forbearance are critical norms in sustaining democracy When one party seeks the annihilation of another, democracy itself is imperilled The National Unity Commission’s ongo-
Judges’ assets
‘QATARGATE’ SCANDAL GRIPS ISRAEL AS NETANYAHU AIDES ACCUSED OF SECRET CAMPAIGN
to bomb Iran if it develops nuclear weapons Trump has given Iran s leaders a two-month deadline to reach an agreement on the country’s nuclear program, which has strained relations with Western nations for decades Western countries including the United States have long accused Iran of pursuing a nuclear weapon, which Tehran has denied, insisting its enrichment activities were solely for peaceful purposes “I think it’s better if we have direct talks he told reporters onboard the presidential plane Air Force One I think it goes faster, and you understand the other side a lot better than if you go through intermediaries ” Iran’s Foreign Minister Abbas Araghchi said last week that Tehran would not engage in direct talks with Washington until there is a change in the other side s approach towards the Islamic republic Trump in his first term ripped up a 2015 nuclear deal negotiated by predecessor Barack Obama and reimposed crippling sanctions on Iran The deal, sealed between Tehran and world powers, had required Iran to limit its nuclear ambitions in exchange for sanctions relief They wanted to use intermediaries I don t think that s necessarily true anymore Trump said I think they re concerned, I think they feel vulnerable I don t want them to feel that way,” he added “I think they want to meet ” Trump said last month he had written to Iran s supreme leader Ayatollah Ali Khamenei to call for nuclear negotiations and warn of possible military action if Tehran refused Trump gave the Iranians a two-month deadline to reach a new nuclear deal
In response, Tehran has agreed only to indirect negotiations It has ruled out any direct talks while under a US policy of maximum pressure according to The Conversation Khamenei responded by saying that US threats will get them nowhere” and warned of reciprocal measures “if they do anything malign” against Iran Last week Trump said there will be bombing of Iran if it does not drop its efforts to develop nuclear weapons In recent days, American B-2 bombers and warships have
CORPORATE CORNER
Sindh
The
cleanliness,
and
of
Azma Bokhari further stated that Rsone
were spent to provide jobs to 100 000 people and a structured cleanliness system was implemented during Eid Criticising the Khyber Pakhtunkhwa government she said corruption stories are widely known in the province She also expressed concern over Ghandapur's statement about spending Rs75 crore on the party Continuing her statement, she pointed out the deteriorating situation in health education and infrastructure in Khyber-Pakhtunkhwa and mentioned evidence of corruption in the purchase of basic equipment such as hand gloves She raised questions about the misallocation of funds in wheat procurement, the misuse of funds in the name of mosques, and the alleged misuse of pension funds
RAWALPINDI
Punjab Senior Minister Maryam Aurangzeb has said that the present government has brought the country out of a difficult time through well-coordinated and intensely engaged efforts
She said Prime Minister Shehbaz Sharif in the federal government and Chief Minister Maryam Nawaz Sharif in Punjab, have written a new history of serving the people
She said that the country is destined for progress and development only when passionate and able leadership is cognizant of people s problems
By the grace of Allah and the hard work of the dedicated leadership, Pakistan has come out from the darkness of default to the light of economic stability and development she said
meeting held
Rawalpindi
The senior minister highlighted that CM Maryam Nawaz has made the development of the entire Pun-
jab, including the Clean Punjab, Dhi Rani Programme, Kisan Card, Himmat Card, Scholarship Programme Laptop scheme all of which were swiftly executed for prompt benefits delivery She further highlighted that the utmost priority of Prime Minister Shehbaz Sharif and Chief Minister of Punjab Maryam Nawaz was to provide relief to the people She underlined that the common man will get relief from the
cerned officials Maryam
rangzeb also reiterated for timely completion of Rawalpindi Ring Road (RRR) project
K arachi to get good news per taining to health from federal government: Minister
things in the field of health
the federal government
He said that they were working to improve health sector including Drug Regulatory Authority of Pakistan (DRAP) and would have crackdown on wrong deeds Pakistani travel guides While talking to media persons during his visit to Central Drugs Laboratory here, he said that they were going to liberalize medicines market
The Federal Minister for National Health Services Regulation and Coordination Syed Mustafa Kamal said that he had done homework and working on improving
He said that 70 percent of the people visited hospitals unnecessarily in the country due to non-availability of Basic Health Units (BHUs) He said that the people visited big hospitals even for the checkup of their BP Kamal said that they were working on telemedicine to provide relief to the people and the people would not have to visit hospitals for their minor health problems
We are making policies, and they are in the process, which will provide relief to the people,’ he said
Replying to a question regarding the health of the President Asif Ali Zardari the Minister said that he prayed for his good health and recovery
Answering a question about establishment of a hospital or trauma centre on Hyderabad-Karachi Motorway, he said that the Prime Min-
ister would announce it soon In a query on his strained relations within his party he said that the differences of opinion remained and misunderstandings could vanish and truth and facts would always win
Speaking on circumstances of the city, he said that the situation had improved in Karachi which had been in controversaries and bloodshed for 40 years
Urging the Sindh government regarding accidents due to dumpers and heavy traffic in the city, he said that the provincial government should enact tough legislation against killing the people by heavy traffic
He also called up the government to play its part to stop amendments and regulations to the laws of Sindh Building Control Authority (SBCA) to convert amenity plots into commercial use
tH E information ministers of both the Punjab and Sindh on Saturday indulged in an escalating ‘war of words’ over the proposed canals project, following PPP Chairman Bilawal Bhutto-Zardari’s rejection of the project a day earlier
Addressing a presser at DGPR office in Lahore Punjab Information Minister Azma Bokhari termed the PPP chairman s statement about the canals project inappropriate, saying this was not the solution to the problem
“If PPP Chairman Bilawal BhuttoZardari was available to hold a meeting with the federal government for the budget allocation of the provinces, then he should also have time to find a solution to the canal problem”, she emphasized
“President Asif Ali Zardari approved the projects It is documented and it is signed Bokhari said regretting the PPP was only looking
ISLAMABAD S TA F F R E P O R T The federal government has appointed senior police officer Riffat Mukhtar Raja as the new director general of the Federal Investigation Agency (FIA), according to an official notification issued by the Establishment Division Riffat a Grade-21 officer of the Police Service of Pakistan (PSP) previously served as inspector general of the National Highway & Motorway Police (NH&MP) and also held the post of Sindh police chief in the past He brings extensive law enforcement experience to the FIA, taking charge of the country s premier investigative body at a critical time In a separate move Waqar-ud-Din Syed has been named the first director general of the newly-established National Cyber Crime Investigation Agency (NCCIA) which operates under the Interior Division LAHORE/KARACHI
canals project aims to irrigate a total of 4 8 million acres (1 9 million hectares) of barren land by constructing six canals two each in Sindh, Balochistan and Punjab Five of these canals will be built on the Indus River while the sixth will constructed along the Sutlej River supplying approximately 4 120 cusecs of water to irrigate the Cholistan desert in Punjab Punjab Chief Minister Maryam Nawaz and Chief of the Army Staff Gen Asim Munir inaugurated the ambitious Cholistan project to irrigate south Punjab s lands on February 15 amid strong reservations in Sindh Recently, the Sindh Assembly unanimously passed a resolution against the construction of six new canals on the Indus River
Meanwhile, PTI MNA Shahram Khan Tarakai echoed similar concerns, urging the party s central leadership to investigate Gandapur ’s statement and present Imran Khan’s stance clearly before the public He stressed that PTI leaders should remain focused on securing Khan s release and advocating for other detained party members It is pertinent to note that on Wednesday, as cracks widened within PTI s top ranks, Gandapur met jailed party founder Imran Khan along with an aide Later, media reports suggested that Imran had reportedly advised Gandapur to re-engage with the establishment but strictly within the bounds of the Constitution and the law However on Thursday KP government spokesperson Barrister Muhammad Ali Saif rebutted all such reports, clarifying that neither Imran Khan wanted talks with the establishment, nor tasked anyone with this responsibility gov t appoints new Dgs
Balochistan government spokesperson Shahid Rind on Saturday offered the Balochistan National Party-Mengal (BNP-M) to march till Quetta s Shahwani Stadium on Sariab Road and warned the party of action if the city’s Red Zone is breached
The BNP-M had announced a long march from Wadh to Quetta last Friday to protest against the arrests of Baloch Yakjehti Committee (BYC) leaders and activists, including Dr Mahrang Baloch and Sammi Deen Baloch, as well as the police crackdown on their sit-in in Quetta Sammi was released on Tuesday The BNP-M sit-in has entered its ninth day On Thursday in Mastung, party chief Sardar Akhtar Mengal announced three demands during its protest against the recent arrests of rights activists Mengal stated the demands: “Either release all prisoners of the BYC including women or then let us march on to Quetta where we can hold a peaceful sit-in there Or then arrest us Rind, while addressing a press
conference in Quetta said: The provincial government held a dialogue and proposed that BNP-M will be allowed till Shawani Stadium [on] Sariab Road, but they did not agree and wanted to hold the demonstration in the Red Zone However the government will not accept that He added that peaceful protest is a right, but the specifics of where and for how long the protest will be held are for the district administration to determine They have announced to bring the march to Quetta and they
should know that Section 144 has already been declared, and if it will be violated, then the law will take its course,” Rind continued While answering a question regarding how the government would enforce its decision he responded: No permission will be given to hold the Red Zone and government functionaries hostage He also claimed that the platform of a registered political party was used for anti-state speeches in reference to the BNP-M adding that appropriate legal action has been initiated
Brussels conference decries world silence on atrocities against K ashmiri women in IIOJK
was moderated by human rights activist Naveen Qayoom
The speakers stated that Indian forces in IIOJK are systematically targeting women
Iqbal; and young Kashmiri intellectual Wasi Syed The event
forces are
Chairman of
EU Ali Raza Syed stated that peace is linked to justice, and as long as Kashmiris are denied justice, lasting prosperity and sustainable peace cannot be established in South Asia
