The Financial Daily-Epaper-07-11-2010

International Karachi, Sunday, November 7, 2010, Zul-Qa’dah 29, Price Rs12 Pages 8

Mistrust mars Pak ties with US: Sharif

Obama announces $10bn trade deal with India Pak economy hit hard by terrorism: Kaira

See on Page 8

Awan hints at 19th Amendment

See on Page 8

See on page 8 Economic Indicators $16.96bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.97mn

Forex Reserves (29-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10)

GDP Growth FY10E Per Capita Income FY10 Population

Portfolio Investment SCRA(U.S $ in million)

103.44 -1.28 -0.01 2532

Yearly(Jul, 2010 up to 4-Nov-2010) Monthly(Oct, 2010 up to 4-Nov-2010) Daily (4-Nov-2010) Total Portfolio Invest (22 Oct-2010)

NCCPL (U.S $ in million)

FIPI (05-Oct-2010) Local Companies (05-Oct-2010) Banks / DFI (05-Oct-2010) Mutual Funds (05-Oct-2010) NBFC (05-Oct-2010) Local Investors (05-Oct-2010) Other Organization (05-Oct-2010)

3.04 -0.11 -0.75 3.89 -0.28 -5.90 0.10

Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 Dow Jones

Close 10,882.00 9,625.99 24,876.82 21,004.96 2,750.70 3,129.50 5,875.35 11,444.08

Change 179.81 267.21 341.19 111.39 11.05 42.56 12.56 9.24

GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)

$.Price PKR/Shares 2.60 111.00 19.12 163.26 2.00 42.69 1.70 36.29 9.97 34.07

Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)

03-Nov-2010 03-Nov-2010 03-Nov-2010 29-Sep-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010 05-Nov-2010

12.75% 13.11% 13.24% 13.50% 12.72% 12.97% 13.23% 13.63% 13.71% 13.65% 13.74% 13.85% 14.21% 14.34% 14.50%

Commodities Crude Oil (brent)$/bbl 88.11 Crude Oil (WTI)$/bbl 86.85 Cotton $/lb 142.23 Gold $/ozs 1,397.70 Silver $/ozs 26.75 Malaysian Palm $ 1,034.00 GOLD (NCEL) PKR 38,435 KHI Cotton 40Kg PKR 9,538

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 85.90 Canadian $ 84.50 Danish Krone 15.10 Euro 120.30 Hong Kong $ 10.85 Japanese Yen 1.062 Saudi Riyal 22.67 Singapore $ 66.20 Swedish Korona 12.30 Swiss Franc 88.40 U.A.E Dirham 23.15 UK Pound 137.80 US $ 85.35

Sell (Rs)

86.90 85.50 15.50 121.80 11.09 1.065 22.85 67.20 12.80 88.90 23.35 139.50 85.65

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

86.72 85.23 16.28 121.37 11.02 1.057 22.79 66.63 13.07 89.12 23.27 138.92 85.39

86.93 85.43 16.32 121.66 11.05 1.059 22.84 66.78 13.10 89.33 23.32 139.24 85.57

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MQM leader laid to rest at Shuhada Graveyard Yaseenabad

Dr Imran buried amid grief Ebad, Malik receive body; entire route cleared under VIP-level security Sardar Ahmed, Shuaib Bukhari, MQM, PPP Faisal Sabzwari, Adil Siddiqui, KARACHI: The slain leader and Kunwar Naveed attended coalition to of Muttahida Qaumi Movement the funeral prayers.

(MQM) leader Dr Imran Various other political leaders Farooq Saturday laid to rest at including PPP leaders Pir go on: Malik Shuhada Graveyard in Mazhar-ul Haq, Waqar Mehdi Staff Reporter

Yaseenabad, Karachi.

Earlier, the funeral prayer of Dr Imran Farooq was offered under a very tight security at Jinnah Ground near Party headquarters "Nine Zero" in Azizabad.

Maulana Asad Thanvi led the funeral prayer of the deceased leader of Muttahida. Separate enclosure was constructed for women as well.

A large number of people including MQM leaders Babar Ghauri, Mustafa Kamal, Wasim Akhtar, Khushbakht Shujaat,

and Najmi Alam also attended the funeral Prayer.

The dead body of slain leader of Muttahida Qaumi Movement (MQM), Dr Imran Farooq was escorted at his native home Sharifabad area of Karachi.

The body of Dr Imran arrived in Karachi from Britain in PIA flight, PK-788 from London's Heathrow airport on Saturday amid tight security.

Governor Sindh Dr Ishrat ul Ebad Khan, Federal Interior Minister Rehman A Malik, See # 2 Page 7

KARACHI: Interior Minister Senator A Rehman Malik and Sindh Governor Dr Ebad Khan carrying the coffin of former convener of MQM Dr Imran Farooq at Jinnah International Airport here on Saturday.-APP

Pak hands over dossier ahead of Obama visit

Mosque massacre

Isb seeks Delhi's help in 26/11 trial

Death toll reaches 95

ISLAMABAD: Islamabad urged New Delhi to allow a Pakistani commission to visit India to gather more evidence for the prosecution of the seven suspects linked to the 2008 Mumbai attacks.

Interior Minister Rehman Malik had proposed sending a judicial commission to India to record witnesses' statements, as the trial of the suspects continues in Pakistan.

The suspects include the alleged mastermind of the attack on India's financial capital, Zaki-ur Rehman Lakhvi, and Lashkar-e-Taiba (LT) oper-

ative Zarar Shah.

The sole surviving attacker, Ajmal Kasab, is on death row in India after being sentenced to death by a Mumbai court in May. "The deputy high commissioner of India in Islamabad, Rahul Kulshreshth, was called to the foreign office," and handed a dossier about the attacks and details of the commission's proposed visit, Pakistan's foreign ministry said Saturday in a statement.

Delhi and Washington have both blamed the See # 6 Page 7

Shershah bridge collapse case

NHA chairman copped in court Staff Reporter KARACHI: The Police Saturday arrested the Chairman National Highway Authority (NHA) Chaudhry Altaf, and two other senior officials after additional and district session judge, Gulshan Ara Chandio rejected the interim Challan submitted by the investigation officer into Shershah bridge collapse case, and ordered arrest of authority officials.

The former chairman NHA, Major General (Retd) Farrukh Javed, and the project director of ECIL Company, which passed

the architecture of the bridge, Mohammad Yousaf Barakzai, however managed to flee from the court in the police presence.

In the interim Challan, the investigation officer submitted that no conclusive evidence had been found against the accused, and that the government of Pakistan had conceded no loss in the wake of the bridge collapse.

Moreover, the Challan said, a sum of Rs1.5 million each had been paid to the heirs of six deceased, who lost their lives in the incident, while Rs500,000 each had been paid to 14 injured See # 4 Page 7

ISLAMABAD: More people died of injuries after Friday's deadliest suicide bombing in a Pakistani tribal region, bringing the death toll to 95, official said Saturday.

A suicide bomber on foot struck a mosque at the tribal region of Darra Adam Khel, some 30 kilometers from Peshawar, the capital of Khyber Pakhtunkhwa province, when hundreds of people were offering prayers.

Over 80 persons, most of them critically, were injured in the attack.

A total of 63 people were killed on the day of the attack and officials in Darra Adam Khel said that several injured died of wounds in hospitals.

TV channels reported that death toll reached 95.

Pakistani Taliban from Darra Adam Khel area claimed responsibility for the attack.

See # 1 Page 7

TCP sells 10k T sugar in open mkt KARACHI: Trading Corporation of Pakistan (TCP) on Saturday sold 10,000 metric tonnes of sugar out of advertised quantity of 50,000 MT in the open market at a rate of Rs70000 per tonne (excluding taxes), on the basis of highest bid to the responsive bidder.

See # 12 Page 7

Obama unlikely to take Kashmir issue with Indian leadership

USA not sensitive to Pak views: Musharraf WASHINGTON: By omitting Pakistan from the itinerary of his current trip to Asia, starting with India, President Barack Obama has shown that the US is not sensitive to the sentiments of Pakistani people, former President Pervez Musharraf said.

Disappointed that Obama would not be visiting Pakistan during the trip, Musharraf has also conceded that US president is unlikely to take up the issue of Kashmir during his meetings with the Indian leaders.

"I would take it as a disappointment, yes, indeed." This reflects that the US president is not sensitive to the sentiments of

the people of Pakistan, Musharraf told MSNBC television.

"I don't think there is going to be any talk about Kashmir. So in the overall context, I think it doesn't resonate well with the people of Pakistan, where they take it that the United States or the president of the United States is not that concerned about Pakistan's own sensitivities and interests," Musharraf said.

"I know one does understand that visiting India is a bilateral issue between the United States and India, and one wouldn't be overly Indo-centric in approach.

"But our concern, as a Pakistani, certainly within

Pakistan, isn't Pakistan an important player in the region?

It is in the front role fighting terrorism. It's a strategic partner towards fighting al Qaeda and Taliban towards eradication of terrorism," he said.

Musharraf said the army and the government in Pakistan are doing their best to fight al-Qaeda and the Taliban. "I'm not really privy to the tactical details of the operations, but at the strategic level, I do understand the commitment of the army, of the military and the government towards defeating al Qaeda and Taliban is certainly there," he said. -Online

KARACHI: Interior Minister Rehman Malik has said that PPP and MQM are friends in every aspect. He said that there is no safe corner for terrorists in Pakistan.

Talking to media persons at Karachi airport after attending MQM deceased leader Dr Imran Farooq funeral, he appreciated provincial government for arranging the best security plan and arrangements on the occasion of MQM leader's funeral and burial.Online

CJ chairs meeting, hopes parliament reviews system

Rules laid down for Judicial Commission CJ authorised to appoint judges of higher courts Special Correspondent ISLAMABAD: The first meeting of Judicial Commission constituted for the appointment of judges to the higher judiciary, came to an end here in federal capital.

The meeting approved rule and regulations of the Commission and also decided that Chief Justice of Pakistan (CJP) would be authorised to appoint judges at the apex court, federal Shariat Court and

chief justices at the High Courts.

Chief Justice of Pakistan Justice Iftikhar Muhammed Chaudhry presided over this JC meeting held in camera at apex court premises.

Chief Justices of Federal Shariat Court and High Courts, federal and provincial law ministers, Attorney General, provincial Attorney Generals and Bar Councils representatives attended the meeting.

The Commission was set up

under 18th Amendment of the Constitution.

Addressing the meeting, Chief Justice Iftikhar expressed his hope that the parliament will review the new system of judges' appointment and consider the concerns of the judiciary in this regard.

The CJ Chaudhry said the Commission is presently functioning under interim order of the court and Article of the Constitution, adding collective See # 3 Page 7

2

Sunday, November 7, 2010

KU extends exam forms submission deadline

Dr Imran Farroq burial

Khi mourns, remains shut Tauseef Razi Mallick KARACHI: All market areas of Karachi and Hyderabad remained closed on the eve of burial ceremony of former convenor of Muttahida Qaumi Movement (MQM) late Imran Farooq in Karachi on Saturday.

Traders association of both the cities had earlier announced a voluntary closure of businesses and a day of mourning to express solidarity with MQM and bereaved members of MQM's late leader's family.

Low vehicular traffic was seen on the roads, however, the educational institutions and government offices were already off because of Saturday weekend.

All major markets, business and commercial centers in Karachi remained closed as "unidentified" persons resorted to aerial firing in several parts of the city, besides setting various vehicles on fire forcing the people to stay indoors.

The Karachi Transport Ittehad, the main representative body of transporters, had already announced to keep the Public transport off the road.

Heavy contingents of police and rangers were deployed across the city to cope with any eventuality. Police personnel using mobile vans and motorbikes kept on patrolling different areas whole the day.

A visit to the different areas showed

that all main markets and commercial centres including Saddar, Bohri Bazaar, Electronics Market, Zaibunnisa Street, Regal Chowk, Zainab Market, Tariq Road, Hyderi, KDA Market (Gulshan-eIqbal) remained closed. Situation was same in Liaquatabad, North Nazimabad, Federal B Area, New Karachi, Landhi, Malir, Shah Faisal Colony, Gulisntan-eJauhar where most of bazaars, markets and shops remained closed.

A majority of petrol pumps remained closed in respective areas. Most of the offices and industrial units in the city also remained closed In the afternoon, however, some shops in different localities were opened and a few taxis and rickshaws appeared on roads. All the exams scheduled for the day were postponed by the public and private sector educational institutions.

Trading at the Fruit and Vegetable Market (New Sabzi Mandi) was also affected due to unavailability of transport.

The strike also affected port activity due to the non-availability of transport vehicles in adequate number.

Reports trickling from Hyderabad, suggested that strike was observed in the city as all the bazaars, markets and commercial centers remained closed in line with an earlier announcement made by local traders and businessmen.

KARACHI: Pakistanis Muslims offering the funeral prayers of MQM Leader Dr Imran Farooq at Jinnah Ground, Azizabad. -Online

Pilot shrimp farm kicks off KARACHI: The Brackish water Shrimp Culture Experimental Pond Project Pilot Shrimp Farm has been set up at a cost of Rs32.063 million on Ambra Creek at Garho, Thatta .The Project will provide basic research and demonstration facilities on 56 hectares area in the Indus Delta and also attracts the investors in this trade.

The project was inaugurated by the Laique Ahmed Memon, Secretary, Livestock & Fisheries, Sindh. The Government has provided sufficient funds for operation of the Pilot Shrimp Farm. The Shirmp grow out phase structure is based on 12 Experimental Ponds (1.35 hectare each); 04 Nursery Ponds (0.50 hectare each) and 08 Grow out Ponds (4.40 hectare each).

The Directorate of Research and Development Fisheries Department, Government of Sindh invested limited funds whatsoever available to operationalise the said farm up to some extent since 2005 to 2008 on experimental basis.-APP

Russian delegation visits SIB KARACHI: A Russian delegation has expressed keen interest in gas, mining, agriculture, livestock, healthcare and engineering sectors in Sindh.

Leader of the delegation and CEO Russian National Investment Agency, Oleg Gorbulin, while talking to the Advisor to CM on Investment Zubair Motiwala at Sindh Board of Investment (SBI) here Saturday said that soon a delegation of Russian investors will visit Karachi and Islamabad to further explore possibilities for investment in these fields.

Director General Board of Investment (BoI) Nasreen Ali, Secretary Investment Sindh Yonus Dhagha and Russian Consul General Andrey V Deminov were also present in the meeting which reviewed prospects for Russian investment in Sindh.-APP

Diabetes Day on Nov 14 KARACHI: The World Diabetes Day will be observed on 14 November 2010 to raise awareness about diabetes and its preventive measures around the globe.

WHO estimates that over 220 million people worldwide are suffering from diabetes, while this number is likely to be more than double by 2030 without intervention. Almost 80 per cent of diabetes deaths occur in low and middle-income countries, it says.-PPI

Qaim condemns Darra Adam Khel blast

Governor lauds security measures KARACHI: Governor Sindh Dr Ishrat-ul-Ebad Khan, has thanked Interior Minister, Rehman Malik, Sindh Chief Minister, Syed Qaim Ali Shah, and the officers and personnel of law enforcement agencies for the security measures on the arrival of the body of slain leader of Muttahida Qaumi Movement (MQM), Dr Imran Farooq, and burial in Karachi.

In a statement here on Saturday, he also thanked the President and the Prime Minister for the cooperation extended by them. Dr Ishrat particularly thanked Rehman Malik who was supervising the security arrangements for the last three days.

The Governor Sindh and Interior Minister, Rehman Malik, on Saturday morning received the body of Dr. Imran Farooq which arrived here from London

by PIA's flight PK 788.

The Governor also offered condolences to the family members of late Dr. Imran Farooq at the Karachi Airport.

Floral wreaths were laid at the grave of Dr Imran Farooq on behalf of Dr Ishrat ul Ebad Khan and Rehman Malik.

Earlier Sindh Chief Minister Syed Qaim Ali Shah and Advisor to CM for Information & Archives Sharmila Farooqui in their separate statements have strongly condemned a bomb blast

in a mosque in Darra Adam Khel and said that the nefarious designs of elements involved in this act would be foiled with the people's might.

CM Qaim and Advisor Sharmila extended condolences to the victim families and prayed to Almighty Allah to rest the departed souls in eternal peace and grant courage and fortitude to be bereaved families to bear these irreparable losses.

They also prayed for early recovery of those who injured in the blast.

The Chief Minister said that those attacking mosques and other holy places have no link to any religion, because they are only antistate elements.-APP

365MW power plant resumes production KARACHI: After closure of almost 3 months, due to devastating floods in the Muzaffargarh District in August this year, AES Pak Gen (Pvt) Company, a 365 MW power plant, has resumed its regular operations successfully, a statement by the company said.

The project's electricity supply will help overcoming the current power shortages in the country as it has resumed power supply since November 2. "The power plant has been restored

within a record time of less than three months despite colossal damage to the plant casting several doubts on its early resurrection" said CEO AES Pak Gen, Shahid Khan.

The business interruption and property losses are 100 per cent covered under insurance and reinsurance agreements with reputed insurance giants both in Pakistan and abroad, disclosed Shahid and added that restoring the plant to its original condition was a

huge task forcing the management to fight against all odds exceeding expectations of all stake holders.

The rehabilitation exercise was led by the project's own world class engineering team with the continuous support from the Original Equipment Manufacturer MHI UFJ Ltd - Japan, he said.

This project is located 55 kilometer from Multan in a small town named Virar Sipra of District Muzaffargarh.-APP

$173mn pact signed for clinker terminal KARACHI: Pakistan International Bulk Terminal Ltd (PIBT) has signed Implementation Agreement (IA) with Port Qasim Authority (PQA) for establishing $173 million coal and clinker/cement terminal at Port Qasim.

The agreement was signed by chairman PQA vice admiral (Retd) Mohammad Shafi and CEO PIBT Sharique A Siddiqui at a local hotel here Saturday.

Pakistan's first ever dedicated bulk cargo project is

expected to come into operation in next three years at an initial cost of $140 million on built operate and transfer (BOT) basis to handle 8 million tonnes of coal, cement and clinker annually.

About 460 meters long jetty will have a depth of 15 meters to handle large ships of up to 75,000 deadweight tonnage. This will be connected to a back up area of 25 hectares with a 2.5 kilometers trestle.

PQA chairman said that this is the largest investment in Port Qasim in

terms of infrastructure and it has a distinction of being totally a sponsored's owned project with local expertise.

He pointed out that 176 industrial and commercial units are operational in PQA industrial zone while 274 are at various stages of construction.

Admiral Shafi invited investment from private sector in the industrial zone of PQA with specific mention to energy project including energy terminal and maintenance yards.-APP

KARACHI: The University of Karachi has notified for the information of all that the date for submission of forms and fee of BA/BCom and BOL External Annual Examination 2010 has been extended by 12-112010 without late fee.

Examination fee for BA: BA Part-1 (fresh & failures) Rs 2050; BA Part-II & Improvement of Division Rs2050 and BA both parts & improvement of Division Rs3750.

Examination fee for BCom: Bcom Part-I (fresh & failures) Rs2300; BCom Part-II & improvement of division Rs2300; BCom both parts and improvement of division Rs4250.

The examination forms will be available at NBP/UBL Counter at Silver Jubilee Gate No.1 for Rs50 each. The forms and fee endorsed by the examination departments, external counter room No. 1 at Silver Jubilee Gate No. 1 shall be deposited in the NBP/UBL at University of Karachi, campus branch.-PPI

Pak denies BBC report ISLAMABAD: Pakistan has termed as "baseless and malicious" a recent BBC report alleging existence of terrorist training camps in Azad Jammu & Kashmir.

Foreign Office Spokesman said on Saturday that such groundless reports are aimed at undermining legitimate struggle of Kashmiris for their right to self-determination.

He said Pakistan was committed to continue extending full diplomatic and moral support to Kashmiris in their struggle against Indian occupation.-PPI

SUNDAY Time 8:00 8:30 9:00 10:00 11:00 11:30 12:00 13:00 14:00 15:00 16:00 16:30 17:00 18:00 18:30 19:00 19:30 20:00 20:30 21:00 22:00 23:00 0:00

Programmes Pakista this week(Rpt) Music Scene Teesri Nazar(Rpt) Smithsonian Documentry Uff Tv(Rpt) Dilkash Pakistan (Rpt) Kamyab (Rpt) Agenda 360 (Rpt) Karobari Duniya(Rpt) Teesri Nazar(Rpt) Pakistan This Week (Rpt) Tijarti Dunya (Rpt) Kamyab (Rpt) Dilkash Pakistan (Rpt) Uff Tv(Rpt) Sara Jahan Red Carpet Filmi Samaa Munafa Khor Hoshiyar Badalta pakistan Agenda 360 Amnay Samany Filmi Samaa(Rpt)

Advisor attends Diwali festival

Sharmila calls for plantation drive KARACHI: Advisor to Sindh Chief Minister Sharmila Farooqui on Saturday took notice of tree hacking in Karachi and called for mass tree plantation in the city so as to provide clean and green environment to citizens.

"Trees generate a large amount of oxygen which is only sources for survival of human life on the earth. They also provide soothing shed and green atmosphere, so the environment and civil society organizations should come forward with positive approach and support the government's efforts for raising tree cover not only in Karachi

but also in other parts of Sindh," Sharmila said.

She said the present government has initiated various environment conservation programs to reduce air, noise and seawater pollutions to a significant level. The advisor said that it is the need of hour to raise forests by planting more and more trees to join the country and the world efforts for combating global warming.

Sharmila Farooqui also visited Swami Narain Mandir at MA Jinnah Road the other night to express solidarity with Hindu community on their annual festival of Diwali.-APP

TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Manzil (Rpt) 10:05 The Reema Show (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 The Anchor (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:05 I Samaa 19:30 Mutasareen 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Tafteesh

Analysis & Feature

Sunday, November 7, 2010

3

AUSTRALIA LABOUR WOES TO FUEL LNG PROJECT COSTS l RUSH FOR SKILLED LABOUR, RESOURCES TO BOOST COSTS

A

l MORE LNG PROJECT COORDINATION COULD TEMPER COST RUN-UPS

ustralia's expanding liquefied natural gas (LNG) industry could face large labour cost blowouts as new projects struggle to fill thousands of jobs from a heavily unionized workforce whose ranks are already being thinned by retiring baby boomers.

By making projects more expensive and stretching timelines, the scramble for workers will make gas more costly for buyers and force projects to share infrastructure, coordinate development strategies and perhaps even force consolidation eventually.

Australia's environmental approval for BG Group's $15 billion Queensland liquefied natural gas (LNG) project paves the way for construction, but it faces escalating costs as a boom in LNG projects boosts competition for a unionized workforce.

"There is no doubt that there is going to be a labour issue. It's going to be one of the biggest issues for the sector," said Graeme Carson, an analyst at Patersons in Melbourne.

Labour costs for Australian LNG projects can make up as much as 40 percent of a project's total cost, several analysts say, and union demands can easily cause those costs to balloon.

While union clout in some countries has waned after the global financial crisis, Australia's unions have remained powerful, thanks to the nation's resource boom.

Earlier this year, Woodside's Pluto I project in Western Australia faced rolling strikes, which could

lead to significant cost overruns and delays.

"When there is such a strong demand for labour, workers can demand more -and do so. It's relatively easy for labour to put some pressure on employers because the labour supply is so tight," said Tony Regan, an analyst with Tri-Zen International in Singapore.

Cost overruns of more than 10 percent on LNG projects are not unusual and a tight labour market would push expenses even higher, but industry analysts say they are tough to estimate without knowing what contingencies companies have factored in.

The LNG expansion, which will see at least 10 proposed projects built through 2017, coincides with a wave of growth across Australia's resource sector as it tries to meet ravenous demand from giant Asian economies such as China and India.

RESOURCE BOOM Australia's mining and energy sectors have a history of driving inflated housing markets and poaching skilled labour from other industries with six-figure salaries -highlighted by anecdotes of recruiters trawling bars for workers to sign up prospects on the spot.

Queensland, the northeastern state where the coal seam gas projects will be based, is already feeling tightness in the skilled labour market, advisory firm KPMG said in a report.

A surge of retirements among the baby boomer generation now nearing its mid50s and -60s is likely to worsen the problem.

"We're actually going to see a natural decline in the Australian workforce in the next 30 years or so because of less people coming into the workforce," said Jason Berry, a migration services partner with KPMG, which recommends that LNG developers recruit abroad and take extra measures to retain workers.

Unless large projects are staggered, labour costs could soar up to 40 percent as firms compete for labour, Berry said.

"If everyone wants to do the key part of the project at the same time, contractors will just pay what the market demands. It will become a merry-go-round of salary increases."

POLICY REFORM? Some industry watchers consider migration reform the third rail of politics but others said they saw some easing of migration laws as inevitable to plug skilled labour gaps.

"The government has to do something about letting some foreign workers in, surely. I just can't see how all these projects are going to go ahead with lack of people," said Peter Kopetz, an analyst with Perth-based State One Stockbroking.

Australian Prime Minister Julia Gillard's minority Labor party government has advocated a decrease in immigration, despite granting an exception for "enterprise migration agreements" that allow foreign workers to migrate for mega resource projects.

But the minority Labor government is unlikely to

change migration policy dramatically and risk its relationship with Australian unions, said one analyst.

This contrasts with policy in Qatar, the world's number one exporter of LNG, which imported thousands of workers for projects, but still suffered a 10-month delay in the start-up of its Qatargas 4 LNG plant as contractors struggled to keep pace with expansion.

Some LNG developers may try to skirt migration issues and slash 10 to 20 percent off labour costs by building LNG modules offshore, said John Hirjee of Deutsche Bank in

Melbourne.

C O N S O L I D AT I O N UNCLEAR Most Australian projects now being built or on the cards are already seen as expensive, at a cost of between $6 and $8 per million British thermal units (mmBtu), while most nonAustralian projects cost less than $6 per mmBtu, the Australian Petroleum Production & Exploration Association says. Analysts have long speculated that BG and Santos' LNG projects and two other projects -- a joint venture between Origin Energy and ConocoPhillips

and a project planned by Royal Dutch Shell -- may join forces through a joint venture or other form of consolidation to cut costs.

"We are talking potentially billions of dollars," said Geoff Barker, a partner with the resource consultancy RISC in Perth.

Santos Chief Executive David Knox's estimate last year that consolidating two of the four projects could save shareholders $1 billion to $2 billion dollars is still not out of line, Parker said, and could even exceed $2 billion, depending on the degree of consolidation.

But with BG pushing ahead with its project and Santos expected to soon follow suit, analysts said the chances for an imminent consolidation were low, though some may happen later.

"It's not clear at the moment," said Di Brookman, an analyst at CLSA AsiaPacific in Sydney. "All the body language is suggesting they are all staying independent."

Even without formally consolidating, however, cooperation during construction, for example in building utilities, jetties, storage, and dredging could scythe down costs.

Indian rare earths push spells no threat to China I ndia's plan to revive production of rare earths makes sense as a longterm strategic move but the country will only be able to plug a fraction of the gap in the market left by China's falling exports.

China, increasingly flexing its muscle on the international stage, announced export cuts this year that pushed prices higher and triggered a rush to find alternative supplies.

Rare earths are used to make a broad spectrum of high-technology products from plasma televisions to weapons and China now provides 97 percent of global supply, meeting demand primarily from Japan and the United States.

India, whose state-run pro-

ducer of the rare earths halted output in 2004 in the face of cheaper competition from China, is now stepping back into the picture with a modest investment of 1.4 billion rupees ($31.9 million) in a 5,000-tonne capacity plant it hopes could produce material by 2012.

"Whether India becomes a player of any consequence will depend on how fast it can ramp up production and capacity," said Uday Bhaskar, director of strategic affairs think tank the National Maritime Foundation, weighing the country's possible role as a future global supplier.

"I cannot see India becoming a big player in the near future. But India should develop this sector because in

principle it should not become dependent on supplies from one country and that too, China."

India consumed about 200 tonnes of rare earth products in 2004, the year it suspended production and the last year for which official data is available.

One official said the requirement would have "zoomed" given the neardouble digit growth in the economy since.

The country imports all its current requirements from China and mostly uses rare earths in consumer goods industries, petroleum refineries and the car industry.

STILL A LONG WAY TO GO China's reserves are also far greater, some 10 times more

plentiful than India's 3.1 million tonnes.

But an Indian government official, speaking on condition of anonymity, said: "The very fact that China is the near-monopoly makes any secondary supply precious, however small that supply may be."

China says it needs to conserve its mine reserves for future domestic consumption and has just tried to reassure global customers by saying export cuts in 2011 will only be slight.

But others see its reduction in supplies to the world market as a trade weapon and Japan -- already feuding with its powerful neighbour over territorial rights in the East China Sea -- has recently struck cooperation deals to

develop alternative supplies with both Vietnam and India.

The United States made a point of securing assurances from China at a summit last week that it would be a "reliable supplier" of the minerals -- as President Barack Obama starts an Asia tour with three days in India.

With the United States increasingly looking to India to act as a democratic counterweight to an economically dominant China, the South Asian nation's move to boost rare earth production signals its desire for a bigger role on the world stage.

India wants partners such as the United States and Japan to help build its technological capability to convert the ore into metal, the big challenge in expanding

output of rare earths, which are not as hard to find as the name suggests.

"We are looking at partnering with countries which have technological capabilities to help us," one Indian government official said.

"You will probably not see much happening if you take a short-term view. This is a long-term game."

Longer term, developing its own rare earth supplies is a priority for the Indian government and could at least allow it to be self-sufficient with a foothold in the global market.

"It's not a major supplier, but not insignificant either, because five percent of global supplies means a substantial secondary source for at least some of the big compa-

nies," R.N. Patra, chairman and managing director of state-run Indian Rare Earths Limited told Reuters.

Still, China is likely to call the shots for some time to come with mines outside the country -Molycorp's Mountain Pass in California and Lynas' Mt Weld in Australia -- likely to take another three years to meet two-thirds of non-China global demand.

"The major impact (on the global market) is coming from China and Australia ramping up supplies," said Amy Lee, analyst at Nomura in Hong Kong.

"Even if India ramps up production, global supply and demand conditions will remain unbalanced for some time."

Fed easing burnishes already lustrous gold T

he Federal Reserve's $600 billion quantitative easing package has reinforced the medium-term argument for holding gold, as it pushes the dollar firmly onto a downward path and raises the risk of inflation.

In a hotly anticipated statement late on Wednesday, the Fed said it would buy $75 billion in longer-term Treasury bonds a month through the end of June 2011, and could adjust purchases depending on the strength of the recovery.

The statement broadly met expectations and has led to steady gains in gold, chiefly on the back of a slide in the dollar to 11-month lows against a currency basket.

Longer term, it is set to further underpin the precious metal's rally to record highs.

"This is going to play out bullishly for the precious metals," said Credit Suisse analyst Tom Kendall, pointing to renewed weakness in the dollar after the statement.

"The announcement itself was broadly in line with market consensus, but it still leaves an air of uncertainty in terms of the fact that the Fed will review the scale and timing of this additional QE. That leaves the potential for further surprises as we go forwards."

Gold's initial reaction to the news was largely driven by the dollar. The two typically have a close inverse relationship, as gold can be bought as

an alternative to the U.S. unit, and becomes cheaper for other currency holders as the dollar slips.

CORRELATION IN FOCUS While this correlation erodes at times of extreme uncertainty in the financial markets -- as seen earlier this year as the euro zone sovereign debt crisis bit -- the link has recently strengthened.

The U.S. currency fell sharply after the Fed statement, hitting a 28-year low against the flourishing Australian dollar and sliding against the euro, sterling and yen.

The possibility of further adjustments to the level of QE could inject even more

volatility into the dollar, with Commerzbank saying in a note that the policy could prove a "bottomless pit".

"Things are likely to become increasingly uncomfortable for the U.S. dollar, and it only seems a matter of time until EUR-USD breaches its recent high at 1.4160," it said.

The QE measures will also underline current tensions in the currency markets.

Policymakers in key emerging markets, including BRIC powerhouses China and Brazil, have already pledged to implement fresh measures to curb capital inflows in response to the Fed. The dissatisfaction they have voiced in response to the

fresh round of easing is likely to make a deal on global imbalances and currencies at the next Group of 20 meeting in Seoul even less likely.

"Gold is not a paper currency, it is nobody else's liability, it is not a promise to pay by a bank and it's something you can't print, whereas dollar bills and other paper currencies you just turn the printing press on," said Evy Hambro, manager of BlackRock's Gold & General Fund.

"What we're seeing now is a general shift in people's attitude towards things that are going to preserve their purchasing power over time and gold is a natural beneficiary of this kind of activity in the market."

EXPECTATIONS FOR INFLATION Meanwhile, the long end of the U.S. Treasury yield curve steepened on Thursday and the five-year/30-year rate spread widened to record levels as investors bet that a fresh round of quantitative easing by the Fed would stoke future inflation.

Looking forward, this may also be good news for gold, which is often seen as a hedge against inflation.

"Obviously (the Fed) don't see inflation as being an issue in the near term, and if anything they want to bring inflation up to a certain level," said Saxo Bank senior manager Ole Hansen. "So on that basis, hold onto your gold."

Analysts expect currency tensions, coupled with a host of other positive factors such as official sector buying, to lift prices to fresh record highs this year and next.

"Over the medium term in a QE environment, we remain bullish on gold, with inflation expectations on the rise, low real interest rates, the fear of currency debasement," said UBS analyst Edel Tully, who maintains a one-month price target of $1,425 an ounce.

Aside from monetary policy, she said resilient physical demand and limited scrap sales, central banks acting as net buyers and a desire for safe-haven assets provided further good reasons for holding gold.

4 Sunday, November 7, 2010

Mending education on first priority

The Financial Daily International Vol 4, Issue 91

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Shabbir Kazmi

Maintaining sanctity of contracts Reportedly Nawab Aslam Raisani, Chief Minister, Balochistan has expressed intention to challenge federal government's agreement with Singapore Port Authority (SPA) for running Gwadar port in the Supreme Court of Pakistan.

He is in contact with legal experts and also instructed the provincial Advocate General and the provincial law secretary to make arrangements for filing of the petition. The contract was approved and signed by the federal government during the regime of former President Pervez Musharraf. Under the contract the SPA is authorized to manage operations of the port for 40 years.

It seems that the Chief Minister wants to get the contract signed with the SPA cancelled in view of the reservations and apprehensions expressed about it by his cabinet colleagues as well as by other political groups in Balochistan. The Chief Minister has repeatedly expressed that the contract did not protect the interests of Balochistan because the true representatives of its people were bypassed at the time of signing of the contract.

Fully cognisant of the concerns of the political leaders of Balochistan, we suggest not taking any decision in haste. Firing the petition may be very easy but wining the long drawn battle is time consuming as well as very expensive. We consider it a national duty to remind the Chief Minister that such contracts are often ironclad and terminating these unilaterally may not be as easy as being perceived. If the provincial government has certain reservations the issue should be first taken to Council of Common Interest.

We would also like to highlight the importance of Gwadar port by comparing it with Chabahar port of Iran. Many of those who want to undermine the importance of Gwadar has kept it development pace slow, have not allowed construction of link roads and also kept the port charges exceptionally high. Till today only government consignments have been handled at this port and private sector has abstained from using it.

Any attempt to initiate a legal battle could bleak the prospects of making this port commercially viable. Without being bias, it may be said that provincial lack the expertise to manage a strategically important port like Gwadar. Besides, the other two ports located at Karachi are being managed by autonomous authorities. The provincial government should seek better representation for managing Gwadar but termination of the contract could disrupt cargo handling activity.

The provincial government should try to make Gwadar port economically viable by facilitating swift handling of dry and liquid cargo and charging competitive port charges. Provincial government should also approach Chinese experts who have constructed this deep sea port. Gwadar enjoys enormous potential of handling Afghan transit trade and it is the collective responsibility of the federal and the provincial government to make this Pak-China joint venture a success.

Disclaimer:

All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.

S

ome of the experts say that the key reason for all the woes of Pakistan is highly irrelevant Education Policy being followed by the successive governments. Education Policy can't be prepared without first defining the national objectives. Then come the policy parameters and implementation of the policy in letter and spirit.

Since education provides the basics of what has to be done and how, there is also a need to constantly review the curriculum and make it most contemporary. Keeping in view the three important components of Pakistan's GDP 1) agriculture, 2) manufacturing and 3) services, the Education Policy must have the relevant curriculum to prepare those who could manage these segments effectively and efficiently.

Pakistan's agriculture suffers from poor production and productively.

Experts are of the view that agriculture output can be doubled through better crop management, precisely without bringing more area under cultivation. This includes sowing superior quality high yielding seeds, applying balanced nutrients and timely spray of insecticides and pesticides and timely irrigation water. To do all this farmers have to be educated and only expert botanists, entomologists and biotechnologists can provide them the right information. Similarly, on going research on developing better varieties can be undertaken when educated persons of the relevant disciples are available.

Manufacturing sector also suffer from obsolescence. For example many of the Pakistani spinning units has rotors operating at 5,000RPM, whereas the latest models are as fast at 15,000RPM. The fallout is lower productivity of the spinning facilities.

Similarly, Pakistan produces cotton verities from which medium to fine counts of yarn could be produced.

However, use of obsolete ginning facilities damage the fiber and only course counts of yarn are produced.

Lower value addition keeps cash flows of spinning units poor and they also fail in undertaking BMR. The net result is most of Pakistan's spinning units are highly inefficient and competing the global competitors become very difficult. The situation would have been very different if the coun-

be removed only by the professionals who have the right education and right expertise.

Over the years it has also become evident that people of Pakistan suffer the most from natural calamities because of lack of risk mitigation. Till lately, it was said that conventional insurance was not Shariah compliant but despite commencement of operations by general and family Takaful operators the situation has not improved. However, introduction of crop insurance has lessened govern-

“

It may be true that present workforce manages to get the jobs done but situation would have been very different had the things were done in the most appropriate manner.

try had textiles institutions providing education to meet the challenges of 21st century. It may be true that present workforce manages to get the jobs done but situation would have been very different had the things were done in the most appropriate manner.

Within the services sector two subsectors needs highly educated professionals, these are banking and insurance. Business schools awarding specialization in commercial banking and deployment of technology have helped in improving banking sector considerably but many of the areas remain unaddressed. It has been nearly a decade that Islamic banking was introduced in the country but the stumbling block is highly inadequate availability of Islamic bankers, most of the professionals working in Islamic banks have come from conventional banking and have an entirely different mindset. Similarly, Islamic banks are trying to emulate products being offered by the conventional banks. Growth of Islamic banking can be accelerated by producing the right type of bankers and introducing right type of products. There is perception that Islamic banks have given these products Arabic names but the DNA composition is similar if not the identical. This perception can

ment's responsibilities to some extent.

Last year financial institutions lent over Rs200 billion to farmers and this year the target is over Rs250 billion.

The importance of crop insurance was highlighted in the recent floods.

Those farmers and financial institution which has acquired the cover are better off as compared to those who

objective can't be achieved unless the country has professionals who have expertise in banking as well as insurance and also adequate knowledge of Pakistan's agriculture sector.

Computerization or deployment of technology in the services sector has attained significant importance.

Online banking, electronic transfers payments through credit/debit cards, ATMs and mobile banking would have not been possible without developing 'technology highways'. A large number of bankers, hardware and software engineers, developers and operators are busy day and night to keep technology highway free from hackers, cyber criminals and outright cheaters. Joining of hands by different stakeholders is helping in attaining synergy, cost optimization and above all security of the system. The use of technology would have remained a dream had the experience not helped in building the confidence.

To produce graduates in right types of disciplines, there is a need for greater interaction of academia with trade and industry. It is encouraging that professionals working for multinational companies and top local corporations have joined the 'visiting faculty' of many business schools.

Inviting people from trade and industry as guest speakers also helps in understanding the local environment.

It has been nearly a decade that Islamic banking was introduced in the country but the stumbling block is highly inadequate availability of Islamic bankers, most of the professionals working in Islamic banks have come from conventional banking and have an entirely different mindset. didn't acquire the cover. Having said that it is necessary to point out that the scheme should be termed 'credit insurance' rather than crop insurance.

Insurance companies and financial institutions are working together to come up with 'comprehensive crop insurance' scheme. However, the

Most of the books used have been printed in USA and Europe, where the conditions are quite contrary to how the business is done in Pakistan.

The interaction must grow by making it mandatory for the students to work for four to six weeks for the local business entities.

Hermes needs to style media defence to unsaddle LVMH

W

inning the media war against luxury giant LVMH which began in earnest this week is likely Hermes' only realistic chance of shaking off its unwelcome new shareholder.

LVMH boss Bernard Arnault, who made his fortune exploiting rivalries and convincing reticent families to sell shares in their companies, has shown he is ready to use his trademark tactics to add France's last major independent luxury group to his empire.

The French stock market watchdog AMF said on Friday it planned to formally investigate conditions under which the No.1 luxury group built up its Hermes stake, having used derivatives known as equity swaps to avoid declaring threshold crossings.

On Oct. 23, LVMH announced that it had acquired 14.2 percent of Hermes and could lift its holding to 17.1 percent through derivatives, which it did three days later on Oct. 26. Hermes management was informed of the move only an hour before LVMH made the announcement.

"Any instrument that allows the purchase of shares of another company must be declared," AMF President Jean-Pierre Jouyet told RMC Info radio on Friday. LVMH replied it expected the investigation to show it respected AMF rules.

But even if LVMH is condemned and fined, the worst that could happen is that it would lose its voting rights for two years -- which is of little importance since Hermes is a limited partnership whose control firmly rests with family shareholders.

And Arnault is going to play the waiting game to win Hermes.

"I think the only thing that Hermes can do right now is try to win the communications battle with LVMH," said Etienne Boursican, M&A adviser at law firm SJ Berwin.

"It is its best defence."

Hermes needs to make sure Arnault does not exploit any weak spot he finds at Hermes which would give credibility to his assault on the company, Boursican added.

In his battle to win control over Gucci, which he eventually lost, Arnault showed he was ready to use all communications tactics possible to reach his goal. For example, he denied he was seeking control of Gucci just before launching a bid.

This time, Arnault said he was not planning to make a bid for Hermes.

In a rare interview published in Le Figaro newspaper on Wednesday, the heads of Hermes abandoned their traditional discretion to portray Arnault as a raider whose corporate culture was worlds apart from that of Hermes and called on him to withdraw.

But Arnault replied on Thursday through the same paper: "I do not see how the head of a listed company can be qualified to ask a shareholder to sell his shares. On the contrary he is supposed to defend the interests of all shareholders."

LVMH owns Hennessy cognac, Moet & Chandon, the world's biggest champagne maker, as well as fashion houses Dior and Celine and leather goods maker Louis Vuitton, which alone, accounts for more than 50 percent of group operating profit.

As opposed to LVMH which is an amalgamation of different brands,

Hermes branched out into different luxury segments, from tableware and ready-to-wear to watches and helicopters.

Hermes is regarded as one of the world's most prestigious brands which managed to preserve its original spirit as a saddle maker dating back to 1837 while staying in tune with the times by hiring top fashion designers such as Jean-Paul Gaultier.

LIMITED OPTIONS Using the communications battle to draw greater scrutiny on Arnault's motives and means appears be the way forward for Hermes if it wants to stall a potentially disruptive shareholder.

For instance, it could make much of the fact that LVMH built up a stake without informing it. According to Hermes's statutes, any shareholder that buys more than 0.5 percent of its shares must declare it to the company.

Hermes's partnership structure means that even with 17 percent, LVMH cannot get board representation, influence strategy, block the approval of accounts or dividend payments.

But LVMH can make life difficult for Hermes by asking the courts to investigate past transactions and submit resolutions at annual shareholders' meeting, legal advisers said.

The descendants of founder Thierry Hermes, split between the families Puech, Dumas and Guerrand, own 73 percent of Hermes.

To cement their unity, family shareholders could hand over all of their shares to a holding, legal experts said, but the move could backfire as some might baulk at the idea of losing the ability of sell their shares easily in the

market.

"Also, there are often issues related to taxes and inheritance which differ for everybody which means that it might be difficult to find a structure suitable to all," a Paris-based legal adviser said, declining to be named.

Already last week, some family members could not resist the temptation to sell shares after the price hit record highs.

According to filings to the AMF, Laurent Mommeja, brother of Renaud Mommeja, who sits on Hermes's supervisory board, sold shares for 1.8 million euros at 189 euros a share on Oct. 25.

Hermes stock, which floated at 5 euros in 1993, hit a high of 207.7 euros last week after LVMH announced it owned a stake.

With under 10 percent of capital still in free float after LVMH acquired two-thirds of Hermes's floating stock, analysts in Paris and London said they might even reduce coverage of the stock.

But others such as Luca Solca at Bernstein, who does not formally cover the stock, said he was planning to take a closer look at Hermes "in anticipation of LVMH growing deeper into it at some time in the future."

Even if Hermes shares are illiquid, Hermes could not delist without LVMH's backing and at current prices, it would cost it 4.4 billion euros to buy the 27 percent the family does not already own.

This would imply it would have to take on debt which would reduce its valuation -- something family shareholders would not welcome, with or without LVMH

5

Sunday, November 7, 2010

All You Wanted to Know about Congo Virus Ali Zhoraiz jaffri/ Abul Abbas Naqvi

C

rimean-Congo, a hemorrhagic fever is a widespread tickborne viral disease, a zoonosis of domestic animals and wild animals, that may affect humans. The pathogenic virus is a member of the Bunyaviridae

family of RNA viruses. The Congo fever virus causes no apparent illness in animals, except for a mild fever as a result of the virus circulating in the animal for a very short period. Clinical disease is rare in infected mammals, but commonly severe in infected humans, with a vast mortality rate.

Outbreaks of illness are usually attributable to handling infected animals and people.

Congo fever is transmissible to humans through contact with infected blood, other tissue or a tick bite.

People handling livestock during routine procedures, such as the inserting of ear tags, vaccinations or slaughtering of animals, are at risk.

After Dengue's Mosquito invasion there's another creature, waiting for assailing on us at the Eid occasion - the Hyalomma tick.

These ticks, responsible for spreading the CCHF Congo virus are busy these days on our land.

Congo virus, the causative agent of Crimean-Congo Virus Fever (CCVF) is endemic in Pakistan. Cases are documented sporadically ever year, mostly at and around the time of Eid-ulAdha. At this time of the

Keep your children away from Animals Eid may get ruined by this deadly Virus. year in Pakistan, livestock are brought down to the urban areas from the rural parts of the country.

Animals are housed in open spaces and private houses until they are slaughtered during the 3 days of Eid-ulAdha.

During the period of this festival, people of our land

it is cooked at a temperature of 100 degrees Centigrade or matured (low pH) or in dried blood.

Many human infections result direct from tick bites: Animals should be treated with acaricides (which protect against tick bites) to reduce the number of ticks.

Clothing can be treated with

to be transmitted through contact with animals, especially kids. Who meet with theirs pet friend in face animals like cow or goats.

This allows the CCHF virus, which is carried by a tick that inhabits the animal hide, to be transmitted

acaricides.

People coming into contact with fresh blood are at risk: Protective clothing should be worn to avoid exposure of skin to fresh blood and other tissue.

Meat processed and

Congo Virus’s Tick

O

nce a tick latches onto skin, it often moves to the warm, moist armpits and groin - feeding on blood and passing on any disease it carries. A tick bite can also trigger an allergic reaction. If

you have a tick, it is important to remove it properly. To prevent tick bites, keep your arms, legs, and head covered when outdoors. Use tick repellant with DEET. Check for ticks after spending time in grassy or wooded areas.

through unprotected contact with live animals as well as through contact with animal blood subsequent to its slaughter.

There is no evidence that the Congo fever virus may be transmitted to humans in meat processed and matured according to health regulations. This virus does not survive in meat which is cooked well There is no danger from the meat once

matured according to health regulations is not regarded as a risk.

Only buy meat from animals slaughtered at an approved abattoir.

Moreover, the chances of amplify CCVF is expected more this year. The recent Pakistan floods may have contributed to this upsurge as a result of changes in risk factors for these diseases.

"Slaughtering of animals

for Eid usually takes place in parks, streets and on roadsides. This increases the chances of people coming in contact with the blood tissue of an animal and I need to spread awareness about this".

Ectoparasites are bloodfeeding parasites that live on the skin, or can be found attached to hair follicles of animals. According to experts, these ticks are considered as the primary source of viral transmissions, including CrimeanCongo hemorrhagic fever.

These ticks could be found anywhere, but they were abundant in areas near water, which the animals visited frequently.

Suspected case Patient with sudden onset of illness with high fever over 101.3°F for more than 72 hours and less than 10 days, especially in CCHF endemic areas and among those in contact with animals or other livestock Clinical features n Onset of symptoms is sudden, with fever, aching muscles, dizziness, neck pain and stiffness, backache, headache, sore eyes and sensitivity to light.

There may be nausea, vomiting and sore throat early on, which may be accompanied by diarrhoea and generalised abdominal pain.

Over the next few days, the patient may experience sharp mood swings, and may become confused and aggressive. After two to four days, the agitation may be replaced by sleepiness, depression and lassitude, and the abdominal pain may localize to the right upper quadrant, with detectable liver enlargement. n Other clinical signs which emerge include fast heart rate, lymphadenopathy, and a rash caused by bleeding into the skin, both on internal mucosal surfaces, such as in the mouth and throat, and on the skin.

The petechiae may give way to ecchymoses and other haemorrhagic phenomena such as bleeding from the upper bowel, passed as altered blood in the faeces, blood in the urine, nosebleeds and bleeding from the gums. There is usually evidence of hepatitis. The liver and kidney and lung may fail after the fifth day

What is Congo-Crimean Haemorrhagic Fever?

C

ongo-Crimean haemorrhagic fever was first observed in the Crimea

by Russian scientists in 1944 and 1945. At that time it was established by studies in human volunteers that the aetiological agent was filtrable and that the disease in man was associated with the bite of the tick Hyalomma marginatum. The agent was detected in the larvae and in adult ticks, as well as in the blood of patients during the fever. This agent, presumably a virus, was not maintained in the laboratory and was lost.

Congo virus was first isolated in Africa from the blood of a febrile patient in Zaire in 1956. In 1967 Simpson et al. described 12 cases of a feverish illness of which 5 were laboratory infections; the virus was isolated by the inoculation of blood into newborn mice.

Simpson showed that these viruses were similar to the one isolated in 1956. Casals then showed that the viruses isolated in cases of Crimean haemorrhagic fever and the Congo virus were serologically indistinguishable and demonstrated that other virus strains from Central Asia, the USSR and Bulgaria were similar.

The virus has been classified as a Nairo virus in the genus Bunya virus in the family Bunya viridae. It contains RNA and is inactivated by lipid solvents and detergents.

Laboratory studies have shown that Congo virus is related to Hazara virus isolated from ticks in Pakistan, and to Nairobi sheep disease virus; together they form the Nairo virus group.

In Africa the virus has been isolated from a variety of animals, including cattle, sheep,

goats, hares and hedgehogs, and from a number of ticks which parasitize them, including Hyalomma sp., Amblyomma variegatum, Boophilus decoloratus and Rhipicephalus sp.

The most important transmitters of the infection to man are species of the genus Hyalomma.

The larval and nymphal

stages of some species parasitize birds, including migratory birds, some of which fly from South-Eastern Europe to South Africa and thus may carry the infection over long distances. To verify whether this actually happens will require further study of the ticks and their hosts in South Africa and on their way from Europe.

of illness. n The mortality rate from CCHF is approximately 30%, with death occurring in the second week of illness. In those patients who recover, improvement generally begins on the ninth or tenth day after the onset of illness.

The 1st patient suspected of CCHF in Pakistan was brought to the hospital on 14 Sep 2010. Since then, 5000 more CCHF-suspected patients have been admitted, 3000 of whom were tested positive by the NIH The IHR National Focal Point, Ministry of Health, Pakistan, has notified WHO of 12 deaths, of CrimeanCongo hemorrhagic fever (CCHF). In addition, over 5000 laboratory-confirmed cases of dengue fever including 50 deaths have also been reported from Pakistan so far.

Apart from presumptive seasonal cases of CCHF in Baluchistan, there have only been more than 600 reliably confirmed cases elsewhere in Pakistan.

In view of the misdiagnoses reported above, independent confirmation of the new suspected CCHF cases admitted to the HFH and the 500 apparently NIH-confirmed CCHF cases is urgently required Both CCHF and dengue fever are endemic in Pakistan with seasonal rise in cases. However, recently, the transmission of both CCHF and dengue fever has intensified in the country with increased incidence and geographic expansion.

A young resident medical officer, Dr Husnain Shah of Ayub Teaching Hospital has died of Congo fever, the hospital management confirmed. His younger brother also appears to be suffering from the same disease.

Moreover, five doctors, including four female doctors and three nurses of Holy Family Hospital suffering from Congo virus have been admitted hospital. This tells how serious it is, at the moment.

The reason of informing you about this disease is that we have to make ourselves alert for this disease and keep our children away from animals as well as yourselves , if we love your family's and yours health.

Diagnosis n Diagnosis of suspected CCHF is performed in specially-equipped, high biosafety level laboratories.

IgG and IgM antibodies may be detected in serum by enzyme-linked immunoassay (the "ELISA" or "EIA" methods) from about day six of illness.

IgM remains detectable for up to four months, and IgG levels decline but remain detectable for up to five years. n Patients with fatal disease do not usually develop a measurable antibody response and in these

Prevention & Control n Although an inactivated, mouse brain-derived vaccine against CCHF has been developed and used on a small scale in Eastern Europe, there is no safe and effective vaccine widely available for human use. The tick vectors are numerous and widespread and tick control with chemicals intended to kill ticks is only a realistic option for well-managed livestock production facilities. n Persons living in endemic areas should use personal protective measures that include avoidance of areas where tick vectors are abundant and when they are active ; regular examination of clothing and skin for ticks, and their removal; and use of repellents. n Persons who work with livestock or other animals in the endemic areas can take practical measures to protect themselves. These include the use of repellents on the skin, clothing and wearing gloves or other protective clothing to prevent skin contact with infected tissue or blood. n When patients with CCHF are admitted to hospital, there is a risk of nosocomial spread of infection. In the past, serious outbreaks have occurred in this way and it is imperative that adequate infection control measures be observed to prevent this disastrous outcome. n Patients with suspected or confirmed CCHF should be isolated and cared for using barrier nursing techniques.

Specimens of blood or tissues taken for diagnostic purposes should be collected and handled using universal precautions.

Sharps instruments and body wastes should be safely disposed of using appropriate decontamination procedures. n Healthcare workers are at risk of acquiring infection from sharps injuries during surgical procedures and, in the past, infection has been transmitted to surgeons operating on patients to determine the cause of the abdominal symptoms in the early stages of infection. Healthcare workers who have had contact with tissue or blood from patients with suspected or confirmed CCHF should be followed up with daily temperature and symptom monitoring for at least 14 days after the putative exposure.

individuals, as well as in patients in the first few days of illness, diagnosis is achieved by virus detection in blood or tissue samples.

There are several methods for doing this. The virus may be isolated from blood or tissue specimens in the first five days of illness, and grown in cell culture. Viral

antigens may sometimes be shown in tissue samples using immunofluorescence or EIA. n More recently, the polymerase chain reaction (PCR), a molecular method for detecting the viral genome, has been successfully applied in diagnosis The treatment of Congo is very rare. Following are points for the treatment to defend your psyche from Congo Treatment n General supportive therapy is the mainstay of patient management in CCHF. Intensive monitoring to guide volume and blood component replacement is required. n The antiviral drug ribavirin has been used in

treatment of established CCHF infection with apparent benefit. Both oral and intravenous formulations seem to be effective. n The value of immune plasma from recovered patients for therapeutic purposes has not been demonstrated, although it has been employed on several occasions. n Doctors have said that the Congo virus may propagate from one person to another in no time. It has been suggested to parents not to take children to hospitals because these infections area already spreading pretty quickly.

Livestock department has to alert for this and should launch a 'Tick Eradication Campaign' under which animals affected by ticks would be given injections.

They have to start campaign which will be initiated to make the animals safer and prevent viruses from seeping into the local populace.

The city administration also has to take this threat seriously and they should pass their order to livestock department to cope the matter.

"We have asked the department to ensure that all animals being brought to urban areas be washed with water containing hypochlorite (a chemical that kills microorganisms)," "This will help remove ticks from the animals.

The livestock department has to set up animal markets far away from residential and commercial areas.

I wish nobody's Eid gets ruined by these deadly ticks.

Symptoms Humans usually show symptoms within 9 days after a tick bite or contact with infected blood. They get a flu-like illness and blood spots appear under the skin. More severe bleeding and liver disease often follow. The fever is usually associated with headache and muscle pains and does not respond to antibiotic or anti-malarial treatment.

The symptoms of Congo fever should not be confused with those of tick-bite fever where a characteristic lesion often develops in the area of the tick bite.

There are also other diseases which may cause fever and bleeding under the skin. Diagnosis, therefore, is a specialised task undertaken by laboratories.

NOTE:-Consult your medical doctor if any suspected symptoms are noticed

6

Sunday, November 7, 2010

Mobile Prices Updated on 5 November, 2010

SYED ABUL ABBAS NAQVI

Apple - iPhone 4

Nokia 1202 1203 1208 1209 1280 1616 1661 1650 1680 Classic 1800 2220 Slide 2330 Classic 2600 Classic 2690 2700 Classic 2730 Classic 3600 slide 3610 Fold 5030 5130 5220 5230 5233 5310 5320 5530 5630 5730 5800 6120 6220 Classic 6300 6303 6303i 6600 Slide 6600 Fold 6700 Classic 6720 Classic 6730 Classic 6760 Slide 7210 7230 7310 7510 7610 C1-00 C5 E5 E52 E55 E63 E66 E71 E72 E75 N78 N79 N82 N85 8GB N86 N95 8GB N96 N97 N97 mini N900 X2 X3 X6 16GB X6

2,100 2,050 2,200 2,250 2,075 2,350 2,625 3,250 3,650 2,750 4,300 4,450 4,950 5,300 6,700 7,900 12,900 9,600 3,025 7,800 10,400 13,400 12,200 12,400 14,900 17,300 17,200 23,000 21,700 11,700 17,900 10,800 11,300 10,700 18,900 19,000 19,800 20,200 15,200 18,800 8,550 10,750 11,000 14,000 13,200 3,200 14,200 21,300 21,200 23,000 16,800 20,000 21,300 27,500 24,000 19,800 26,300 26,000 22,800 31,500 36,000 36,500 39,000 33,000 39,500 9,800 11,900 31,500 57,000

Sony Ericsson T303 T707 W302 W380i W350i W395 W595 W705 W980 W902 W995 F305 S302 C510 C901 C902i C903 C905 G502 G700 XPERIA X1 Aino Jalou U100 Yari Satio Idou

8,700 16,800 9,600 8,800 7,700 9,700 13,200 19,000 18,200 43,500 25,600 9,400 8,200 12,700 14,800 15,600 16,100 21,400 14,500 12,800 33,000 30,800 17,300 18,700 38,700

Samsung B130 B200 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E250 D980 (Dual Sim) J150 J700 M150 M200 M620 M3510 Beat b M3710 Corby Beat M7500 Armani M7603 Beat DJ M8910 Pixon 12 C3010S C3053 C3212 C3303k Champ C3510 Genoa C5212 DUOS S3310 S3653 Corby S3653 WIFI Star S5230 S5230W Star WIFI S5350 Shark S5550 Shark 2 S5560 Marvel S5620 Monte S7220 Ultra b S7350 Ultra s S8003 Jet S8300 Tocco Ultar Edition

2,050 2,600 3,900 3,600 9,700 12,000 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 5,200 20,300 6,550 7,550 5,100 6,200 6,250 9,200 12,700 30,300 32,000 40,600 5,700 6,000 8,000 7,600 8,800 9,800 7,900 10,600 13,400 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200

LG KP110 KP199 KP220 KP320 KP175 KG288

3,700 6,600 6,500 8,500 5,950 2,450

NOTE: Always visit your local shop for the exact Mobile Phone prices.

The 4th Generation iphone

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he 4th generation iPhone has an all new look, new feel and enough of new skill. We already captured a glimpse of the iOS4. But there's much more: a 1GHz chip, two cameras (Primary & Secondary), HD video and the bright Retina display - the highest-res screen we've seen so far on a GSM phone.

Let's see how good that is.

Key features n Quad-band GSM and quad-band 3G support with 7.2 Mbps HSDPA and 5.76 Mbps HSUPA n 3.5" 16M-color LEDbacklit TFT capacitive touchscreen of 640 x 960 px resolution n Scratch-resistant glass front and rear, with fingerprint-resistant coating n 1GHz Apple A4 SoC; 512MB of RAM n 5 MP autofocus camera with LED flash and touch focus n 720p video recording at 30fps

n Wi-Fi 802.11b/g/n n GPS with A-GPS connectivity; digital compass n 16/32GB storage options n Accelerometer, proximity sensor and three-axis gyro sensor n Active noise cancellation with a dedicated secondary microphone n Standard 3.5 mm audio jack, stereo Bluetooth v2.1 n Excellent audio output quality n Slim waistline at only 9.3mm n Secondary front-facing camera n Some degree of multitasking n Rich App. Store Main disadvantages

n Hardware design is prone to reception issues n MicroSIM card support only n No Flash support in the web browser n No true multitasking for all applications n FaceTime video calls work only over Wi-Fi n No file transfer over Bluetooth or USB Mass Storage mode n No hardware shutter key for the camera n No FM radio n No stereo speakers n No microSD card slot n No smart dialing n Too dependent on iTunes for loading multimedia content

Xbox Kinect Not 'Racist', Tests Show

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onsumer Reports said it has debunked claims that Microsoft's new handsfree control system for the Xbox 360 does not work for African Americans or other individuals with darker skin tones.

Xbox Kinect uses cameras and other sensors to track human body movements and translate them to on-screen actions.

But some blogs, including a post on GameSpot, claimed Kinect is unable to detect dark skin tones. Consumer Reports, however, said its tests show there is no substance to such claims.

"Consumer Reports did not encounter this issue with the Kinect and facial recognition when we first tested it," staffers at the magazine said in a blog

post Thursday. Consumer Reports said stories suggesting the Kinect system is "racist" are similar to reports that certain HP webcams are unable to detect African American features.

Both claims are unfounded, said the magazine, which noted that any Kinect performance issues are most likely related to poor lighting conditions, and not the user's skin color.

"Like the HP webcam, the Kinect camera needs enough light and contrast to determine features in a person's face before it can perform software recogni-

tion and log someone into the game console automatically," Consumer Reports staff said.

The magazine said it tested Kinect with both light-skinned players and dark-skinned players. "At no time did it recognize one player and not the other," the staffers said.

The Kinect sensor bar features a camera, audio sensors, and motion-sensing technology that tracks 48 points of movement on the human body. That means players can control on-screen action simply through physical gestures and verbal commands. The sensor bar is designed to plug directly into the Xbox 360 console.

Microsoft formally launched Kinect.

T-Mobile USA launching Samsung Galaxy Tab

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alaxy Tab hits stores first at T-Mobile, delivers powerful Web and entertainment experiences T-Mobile USA, Inc. and S a m s u n g Te l e c o m m u n i c a t i o n s America (Samsung Mobile), announced that TMobile will be the first to launch the Samsung Galaxy Tab™ in the U.S. T-Mobile's first Android™powered tablet, the Galaxy Tab delivers access to rich content on a seven-inch touch screen for a truly mobile entertainment experience. It is expected to be available at T-Mobile retail stores and online Nov. 10.

The Galaxy Tab is T-Mobile's super-fast HSPA+ mobile broadband network, which delivers a

speed boost allowing the 3Genabled device to load Web pages and videos even faster than in areas of 3G coverage2.

The brilliant enhanced TFT screen and sleek, compact form factor allow customers to bring

the Galaxy Tab's multimedia capabilities to life for themselves or to share, combining all their entertainment and communication needs into one device.

"Customers want richer, deeper interactions with entertainment and online content through connected, portable mobile broadband devices that are small enough to carry and big enough to share with friends and family," said Jeremy Korst, director of broadband products and services, T-Mobile USA. "T-Mobile's unique offerings on the Galaxy Tab paired with the power of T-Mobile's new network allow us to bring a truly differentiated portable entertainment offering to market.

n Poor loudspeaker performance As you can see, most of the main disadvantages are simply passed from one generation to the next but whatever iPhone you're coming from - the iphone 4 will tick most of your boxes. Upgraders will be used to the shortcomings, and unbiased observers will have less points to complain against.

It just seems some features will remain missing forever. The iPhone's memory can't be expanded and you can't use the thing as an external drive (this also means that files are only transferred via iTunes, again). Bluetooth has been upgraded to cover not only for music and calls but a compatible wireless keyboard too.

The iPhone 4 is ridiculously expensive too. No matter how you look at it, it's the most expensive GSM Smartphone on the market right now. For this kind of money, you can get whatever high-end handset you lay your eyes on. And competition is probably at its fiercest.

Dell switching off BlackBerry, onto own smartphone

T

he money-saving switch affects the roughly 25,000 Dell employees who carry a company-issued BlackBerry. Dell employs around 100,000 people worldwide.

Dell is also launching an effort to convince its business customers to switch to the company's smartphone.

News of the company's plans was first reported by the Wall Street Journal, and confirmed

by Dell spokesman David Frink.

Frink said the switch will begin soon, but said it will take some time to complete.

Dell's BlackBerry users will be shifted over to use the new Dell Venue Pro, which runs on Microsoft's new Windows Phone 7 software and operates on the network of T-Mobile USA, the U.S. arm of Deutsche Telekom AG. Dell's decision to move its employees off BlackBerry may come as little surprise, given its aspirations in the mobile device market. The company has frequently talked about using handheld devices as a gateway to sell and promote a broader suite of services. Dell formally entered the smartphone market only late last year, and launched its first device in the U.S., the Aero, earlier this year. The Aero runs on Google's Android software, as does Dell's new 5-inch tablet, the Streak.

RIM has long been the dominant player in the corporate smartphone market, but has seen its market share erode as companies such as Apple make gains.

Measures to Prevent Facebook Hacking he phishing through the Facebook craze.

Internet security vendor Kaspersky Lab reveals that malicious code is spread through social networking sites is 10 times more effective virus, compared with the distribution of malware via email.

"To overcome these phishing attacks, see powerful tips; 1. For sites such as Facebook, create a bookmark to the login page, or typing the

T

regularly and report anything suspicious to your bank.

5. Search giveaway signs of phishing email: if it is not intended for personal to you, if you are not the only recipient of the email, if there are spelling errors, grammar or bad syntax or stiffness in the use of other languages.

6. Installing security software for the Internet and keep updating anti-virus.

7. Install the security patch.

8. Alert to email and instant

URL directly in the browser address bar.

2. Do not click the link in the email message.

3. Only typing confidential data on the website is secure.

4. Check your bank accounts

messages that are not requested.

9. Be careful when the login request Administrator rights.

10. Back up your data.

You're safe from facebook hacking or phishing

Microsoft Word 2011 is Worth the Journey here has never been a Macintosh program that has been so loved, so reviled, so controversial, so often purchased, so written about, and so often taken as a signpost for the health and well being of the Microsoft Macintosh Business Unit as MS Word. A program of this scope, almost like a public figure, has responsibilities, flaws, advo-

T

example, we in the Macintosh community have come to recognize certain UI elements, certain Core Graphics technologies, certain ways of doing things as either hip or backwards. For a long time, the MacBU went its own way, and while modern Mac OS X apps leaped into the future, embracing all that Apple advocated, Word 2008 seemed, at times,

cates and detractors. The key to understanding and using Microsoft Word version 14 as part of the Microsoft Office 2011 suite is to leave the attitude behind and try to understand what the users want and what Microsoft tries to deliver.

Another way to approach MS Word is to appreciate what Microsoft has done even as we recognize that such a monster program will have flaws. For

antediluvian.

Worse, the Macintosh version always seemed a little less capable, a little less business oriented than its corresponding app on the Windows side.

Word 2011 (v.14) changes all that. First, even though it's fundamentally a 32-bit Carbon app, it has both the look and feel of its Windows counterpart while simultaneously making dramatic steps to be more Mac enabled

Latest Gadgets Table connect for iphone The supersized Table Connect is currently being made by three Austrian developers, and it is a sight to behold. It's a 58? touchscreen table that connects to an iPhone 4/3GS, enabling oneto-one control of the phone and of course a ginormous screen for viewing content. You can easily recreate Apple's infamous 1984 commercial using FaceTime on this bad boy.

Ms kinect spills its guts for ifixit The dudes over at iFixit just love to rip stuff apart. Now, on the launch day of Microsoft's much anticipated Xbox 360 Kinect peripheral, they stripped one of these set-top gadgets down to its bare essence.

Sixth gen 16GB iPod Nano

Interpad 10-inch Android tablet

Time for another gadget giveaway.

This time, we've got a very cool prize, we're giving away the new and latest, recently launched Apple iPod Nano. If you're an Apple or iPod fan, you'll know that the new iPod Nano has been completely redesigned into an iPod Shuffle like size device but with the added feature of a 1.54? multitouch display

Interpad is a German device manufacturer and according to them they are working on the above pictured new 10-inch tablet. This 10-inch capacitive multitouch tablet from Interpad will feature Google Android 2.1. As for the hardware specs this tablet uses 1GHz NVIDIA Tegra 2 T20 Cortex-A9 dual core chip and 1 GB of DDR 2 RAM

Tron popup shop to sell Disney is getting all the mileage it can out of the TRON flick set to open next month.

We have seen all sorts of clothing, glasses, and other gear unveiled that ties in with the flick including some clothing perfect for geeky strippers. All that gear is coming to its ownTRON Pop-Up Shop heading to California.

7

Sunday, November 7, 2010

Diabetes drugs may help control lung cancer

PARIS: A scientist looks through an electronic microscope a certification hologram patch on a medicine box in a laboratory of the French pharmaceutical giant Sanofi-Aventis. -Reuters

Pfizer sales lag, hurt by generic Lipitor, Effexor NEW YORK: Pfizer Inc reported disappointing sales on hurt by generic competition for its Lipitor cholesterol fighter and Effexor XR depression drug as well as weak revenue in emerging markets.

The last of the large US drugmakers to report thirdquarter earnings, Pfizer followed the example of most rivals with higher-thanexpected profits -- largely from cost cuts -- but disappointing sales as it faces patent expirations on some of its top-selling products.

"Generic competition is causing pain, and this is just a taste of what Pfizer will be going through in the next few years," said Morningstar analyst Damien Conover.

The world's largest drugmaker, whose shares fell more than 1 percent, said global sales of Lipitor dropped 11 percent to $2.53 billion in the quarter. The arrival in recent months of Lipitor generics in Canada and Spain hurt the world's top-selling medicine.

The bigger threat to Pfizer comes in November 2011, when Lipitor loses U.S. marketing exclusivity. Pfizer bought Wyeth last year for $67 billion, aiming to replace vanishing Lipitor revenue with the U.S. rival's brands.

Effexor XR, a Wyeth antidepressant that once had annual sales of $3 billion, was battered by cheaper U.S. generic versions launched over the summer. Sales of the

pill plunged to $175 million in the third quarter. "As with the rest of the industry, patent losses are hurting the bottom line, and it's always especially tricky to gauge the real magnitude of patent erosion in overseas markets," Conover said.

Pfizer is also counting heavily on fast-growing emerging markets to bolster results in coming years. But its sales in those markets, excluding the Wyeth brands, were essentially flat in the quarter. The company's earnings fell to $866 million, or 11 cents per share, from $2.88 billion, or 43 cents, a year earlier. Excluding merger costs and other special items, Pfizer earned 54 cents per share.

WASHINGTON: Commonly used diabetes drugs such as metformin may help control lung cancer, and may help prevent it, US researchers reported.

Patients who had taken the drugs to control diabetes were much less likely to have lung cancer spread -- which is when it becomes most deadly -- the researchers told a meeting of the American College of Chest Physicians.

Metformin, an older and cheaper drug available generically, had a more powerful effect than newer drugs called thiazolidinediones, TZDs or glitazones, the researchers said.

"Our study, as well as other research, suggests an association between metformin and/or TZD use and the risk of developing lung cancer," said Dr. Peter Mazzone of the Cleveland Clinic in Ohio, who led the study. "However, unique to this study, we have been able to report less advanced cancer in those who do develop cancer, a decreased frequency of squamous cell and small cell carcinomas, and improved survival, when controlled for stage, in people taking metformin and/or TZDs." The team reviewed the medical records of 157 lung cancer survivors with diabetes.

Those who had taken either a metformin drug or a TZD were significantly less likely to have advanced lung cancer that had spread -- 20 percent of those who took the drugs had tumors that had spread, versus 42 percent of those who had not.

"Further information has been sought from India to facilitate the ongoing Mumbai trial in Pakistan." An anti-terrorism court in Rawalpindi indicted the seven men on the eve of the first anniversary of the attack, which ended a fragile peace process and strained ties between the neighbours.

But Pakistani officials have since implied that the trials cannot proceed unless Kasab is handed over as a witness. However, New Delhi has refused to give the court access to Kasab and Indian national Fahim Ansari, who faced conspiracy charges but was Continued from page 1 No #2 acquitted. Kasab, one of 10 gunmen who went on the three-day several MQM leaders, Dr Imran's mother-in-law and other in- rampage through Mumbai, was convicted on charges including laws received the body at the airport. murder and waging war on India. -Agencies At the airport, the MQM leaders wrapped the coffin of Dr Continued from page 8 No #7 Imran's body in party's flag and placed the coffin in an ambulance Ansari said two Pakistani nationals, who he identified only as of Khidmat-e-Khalq Foundation.

The entire route of the coffin motorcade was secured. The large Hekmat and Muneer, were also involved in preparing the four suimotorcade consisted many vehicles was air-monitored by two hel- cide bombers in Quetta. -Reuters icopters of law-enforcers. From Karachi Airport to Star Gate, Continued from page 8 No #8 Rashid Minhas Road, from Nipa Bridge to Azizabad was cleared He told that notification for formation of Islamabad High Court under VIP-level security. had been issued and it would start functioning from December, Rehman Malik, and Governor Ebad aboard a helicopter, air- 13. Judges to be appointed in Islamabad High Court would be inspected the security in the city through the route of cavalcade, taken from all the four provinces and Fata, he pointed out. carrying the coffin of Dr Imran Farooq.

Today was historical day in the history of Pakistan when judiAlso, the snipers were positioned on rooftops and people were cial commission had assembled for the first time and senior asked not to appear on their rooftops. However, people in large judges, law ministers, chief justices of high courts and elected number were seen witnessing the cavalcade passing. representatives of bar councils had exchanged views on the proOn the other hand, an unannounced strike n Saturday crippled cedure for appointment of judges and approved rules and regulathe commercial hub of Pakistan amid burial of the slain Muttahida tions, he maintained. -Online Qaumi Movement leader DR Imran Farooq.

No #1

Continued from page 1

Officials said that the bomber wanted to target a pro- government tribal elder, who was believed to be in the mosque for Friday prayers.

Around 100 people were killed in a suicide attack on tribal council or jirga in Darra Adam Khel one and half year ago.

The security forces had launched major operation in the region two years ago and killed or expelled militants. -Agencies

No #3

Continued from page 1

wisdom will have to be tapped in for decisions and the responsibility of judges' appointments will be shouldered in transparent and agreeable manner.

According to the sources, the meeting hammered out that Registrar SC Faqir Hussain will be Secretary of the JC and that every JC meeting will be held in camera and record of its proceedings would be kept.

The commission comprises Justice Javed Iqbal, Justice Shakirullah Jan, Justice Chaudhry Ijaz Ahmed, Law Minister Babar Awan, Justice (Retd) Attorney General Maulvi Anwar-ul Haq, and Pakistan Bar Council nominee Dr Khalid Ranjha.

Chief Justice of the Federal Shariat Court (FSC), Justice Agha Rafiq Ahmed Khan, was also attending the meeting. Twenty-five representatives of the FSC and the four High Courts were present at the meeting. Meanwhile, Justice Shakirullah Jan was out of the country and could not attend the meeting.

No #4

Continued from page 1

No #9

Continued from page 8

mistakes but at some points their hands were tied. Addressing a seminar organized by SAFMA in Islamabad, he said that inflation has touched skies and the government was being abused. But media and other pressure groups were evading taxes and the trend has to be changed now, he added. He said that subsidy in different sectors was being ended and hike in petrol prices was necessary to avoid Rs 100 billion deficit. He said that 28 out of 32 points of Charter of Democracy were implemented. -Agencies

No #10

Continued from page 8

coal for electricity production. He said progress has been made in the Thar coal project and government should would the subsidy to investors of the project.

Raja Pervez further said that President and PM directed him to utilize all sources for cheap electricity production.

Replying to a question he said that they generate 100MW, electricity from Thar coal project every year. -Online

No #11

Continued from page 8

movement. "I have been to Quetta and I know the council there is not talking." In an interview, he said the handwritten scribbled notes started appearing in mosques shortly after news of Karzai's peace overture was broadcast around the country. In the past, Mullah Omar has used notes and sometimes audio recordings to get his message across. "We heard it on the radio," the Taliban member said of President Karzai's overture and reports of contacts between the Taliban and the government. "No one in our village has televisions," explained the man, who has played an integral Continued from page 8 No #5 role in the Taliban for the past 15 years and has been interviewed investment because of tremendous investment opportunities in numerous times since the 1990s. power, oil and gas, agriculture, pharmaceutical, food processing, Even if the top Taliban leadership did not participate, a number financial, mining and other areas. of exploratory talks have taken place with the militants over the President said that at the time of global economic recession past two years, according to lawmakers, peace council delegates Pakistan's financial sector showed tremendous resilience and not and former and current members of the Taliban. a single bank went into bankruptcy, whereas many economies of The talks were held in various places, including Saudi Arabia, the world suffered huge economic losses. the United Arab Emirates and Afghanistan, said Habibullah Fauzi, Mehfooz Elahi said that almost all sectors of the economy are a peace council member who once served as the Taliban's ambasopen for investment with attractive incentives that gives Pakistan sador to Saudi Arabia. -Reuters an edge over all its regional competitors.

Continued from page 1 No #12 The Government has declared Power sector as one of the top According to TCP here, the objective for off-loading sugar in priorities for Investment and is taking necessary measures to build a more conducive environment by simplifying procedures to facil- the open market from a dedicated quantity of 250,000 MT, on the instructions of the Ministerial Committee on Sugar is to ease its itate potential investors, he added. -APP prices in the country.

Continued from page 1 No #6 The tender for the sale of 50,000 MT sugar was floated on Mumbai attacks, which killed 166 people, on Lashkar-e-Taiba. November 3, 2010 with opening and bidding dates of November "The government of India was requested to facilitate the visit of 6, 8, 10, 12 and 15. The next tender is scheduled to be opened and the proposed commission," the statement said. awarded on November 8, 2010. -APP The investigation officer, pleaded that no Challan could be submitted against the accused in given circumstances.

The court, however, rejected the interim Challan, and ordered the police to arrest the accused.

It is to be recorded that the Shershah bridge had collapsed on September 1, 2007 just six months after its inauguration by the then president General rtd Pervez Musharraf raising fingers on the professional competence of the NHA.

PerkinElmer Q3 profit tops Street view NEW YORK: PerkinElmer Inc reported slightly better-than-expected third-quarter earnings, driven by growth in its environmental business, and it nudged its full year earnings forecast higher.

PerkinElmer now expects full-year adjusted earnings per share of $1.29 to $1.31, up from its prior view of $1.24 per share to $1.29 per share.

The quarterly results and forecast exclude contributions from the specialty lighting business that the company said in August it would sell for about $500 million in a deal expected to close this year. That business would have contributed about 23 cents a share to annual earnings.

The scientific instruments maker is aiming to use proceeds from the sale to make an acquisition more closely aligned with its core operations than the lighting unit had been.

"Our first preference is to buy another business to more than replace the income, or we will buy back shares in PerkinElmer. It will probably be a combination of both," Chief Executive Robert Friel said in a telephone interview.

An acquisition would

likely be targeted to the diagnostics space, the CEO said. PerkinElmer is also considering consumables, reagents or services as acquisition targets as opposed to instruments, Friel said.

The company reported third quarter earnings from continuing operations of $26.5 million, or 22 cents per share, compared with $13.3 million, or 11 cents a share, a year ago when the company took a restructuring charge.

Excluding items, PerkinElmer earned 31 cents per share, topping analysts' average expectations by 2 cents, according to Reuters.

Revenue from continuing operations for the quarter rose 11 percent to $419.1 million, topping Wall Street estimates of $401.9 million. The environmental health business saw revenue grow 14 percent to $224.6 million, while the human health unit had adjusted revenue growth of 5 percent to $194.5 million.

"We are seeing good growth on the academic side of things in research, but on the drug company side we're seeing constrained capital expenditures," Friel said of the lagging human health growth.

Sales in newborn screening have been hurt by declining birth rates in the United States this year, he noted.

But anxiety over food and water safety and new regulations spurred the environmental business to robust growth. "Safety concerns around consumer products is driving demand for our products," Friel said.

The company has landed a big contract with Chinese health regulators that is expected to bare fruit in the fourth quarter and throughout 2011, Friel said.

"We reached agreement to supply them with over 200 instruments to monitor pharmaceutical manufacturing compliance.

They're outfitting a number of labs across the country and they're standardizing on PerkinElmer equipment, so that was a big win for us," Friel said, adding that PerkinElmer also recently won a contract with a government lab in Brazil around screening for drug discover.

"We're starting to see some real traction from the investments we've made historically in some of the emerging territories," he said. -Reuters

Healthcare sector seeks remedies as market shifts NEW YORK: Once considered a reliable haven for investors, the Healthcare market endured a major shake-up this year, and the industry is still trying to pick up the pieces.

The US government passed Healthcare reform measures that impose a wide array of fees and regulations on health insurers, pharmaceutical companies, medical device makers and the rest of the sector.

While the law paves the way for 30 million uninsured Americans to gain coverage -meaning a wealth of new customers -- they will not come on board for a few years.

That comes on top of the biggest wave of patent expirations in the history of the pharmaceuticals industry, which will reach a peak in 2011 and 2012.

"Healthcare used to be a defensive sector, but those characteristics are waning," said FAF Advisors Healthcare analyst Tim Nelson. "It's not bullet-proof anymore because the consumer is involved." risen only 1 per cent, while the broader S&P 500 index has climbed 9.5 percent.

Healthcare companies in the index on average trade at about a 12 percent discount to the broader market based on forward earnings estimates.

But that does not necessarily make them cheap, given the concerns over how they will grapple with new regulations, generic competition and a move by government in the United States and Europe to rein in Healthcare costs.

"Healthcare stands out as an underperformer," said Les

Funtleyder, a portfolio manager with Miller Tabak. "The one broadest conclusion you have is fears about reform."

Nelson said investors may need to lower their expectations.

"Healthcare is becoming more of a value sector versus a growth sector, or stuck in the middle somewhere," he said.

"You can get growth at a reasonable price, but it's not the go-go growth of three or four years ago."

Top executives and officials from the Healthcare sector will address these issues and more during the Reuters Health Summit in New York next week.

MORE PRICING PRESSURE LOOMS The Healthcare industry is also finding that sales of products and services once immune to economic downturns are slowing as consumers search for ways to save money.

"Shifting Healthcare costs to consumers helps employers save money. It's the new way of the world," said Nelson.

"Increased regulatory requirements mean less innovation, less differentiation and more pricing pressure for the foreseeable future."

Some of the pressure on US insurers and other Healthcare companies may lift now that the Republican party has taken a majority of seats in the US House of Representatives in midterm elections.

Republican representatives say they want to repeal the Healthcare reform law. But while that is unlikely, the split leadership of the House and

Senate could create legislative gridlock that stalls the overhaul.

Still, companies have already started to bear expenses from the new law, and investors are trying to wrestle with the extent of the changes ahead.

"Either the revenue side of the equation will go down, like you get less reimbursement or fewer people, or the costs will go up because you have to comply with new regulations," Funtleyder said, describing investor fears over reform.

For drug companies, the drumbeat of patent expirations becomes deafening next year.

Led by Pfizer's Lipitor, a wave of top-selling drugs will lose their patents and sales will be quickly eroded by low-cost generic copies.

"Pharma is probably facing more challenges than they have faced in recent memory," said Jim Prutow, partner with consulting firm PRTM. "They're challenged in how they go ahead and continue to meet these revenue and earnings they've been able to produce in the past."

Companies of all stripes are confronting their challenges by diversifying, cutting costs and investing in new, international markets, particularly the emerging economies.

And some seem intent on buying their way out of their problems. The latest major deal saga involves the $18.5 billion hostile bid byFrance's SanofiAventis for US biotech Genzyme Corp, after megamergers struck by Pfizer and Merck & Co.-Reuters

KARACHI: Prof Manzoor Zaidi delivering a lecture on "Breast Cancer Awareness" at Pfizer Pakistan's head-office.-Staff Photo

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Sunday, November 7, 2010

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Obama announces $10bn India trade deals

MUMBAI: US President Barack Obama speaks as first lady Michelle Obama stands besides him here on Sunday at Taj Palace Tower Hotels. -Reuters

28 out of 32 points of CoD implemented

Economy hit hard by terrorism: Kaira LAHORE: Provincial Minister for Finance and Planning & Development Tanvir Ashraf Kaira has said that terrorists want to impose their separate agenda in the country and creating anarchy by targeting innocent people in mosques while the terrorists are targeting mosques by using their brutal tactics and their nefarious designs have been exposed.

In a statement issued here on Saturday, the Minister condemned the bomb blasts in Dara Adam Khel and Peshawar and said that terrorists are damaging the economy of the coun-

try and present government will overcome this critical national issue by curbing this menace and laid foundation of peaceful Pakistan with the cooperation of people and all political parties.

He said that all political forces will have to work shoulder to shoulder with government in the war against terrorism as well as for the progress and development of the country.

He said that war against terrorism can only be won through political stability and put our country on the road of progress

and prosperity. He said that terrorists are now targeting innocent people.

He said that terrorists want to impose their separate agenda but government and law enforcement agencies will not let their conspiracy succeed. He said that extremists are the enemies of Islam and humanity and such element would be cursed for the safer future of country and nation.

Meanwhile, Federal Information Minister Qamar Zaman Kaira has admitted that the government made some See # 9 Page 7

Russia eyes Pak SEZs for investment ISLAMABAD: Oleg Gorbulin, Chief Executive, National Investment Agency, Russia visiting Islamabad Chamber of Commerce & Industry said that Russian Investors are interested for joint ventures investments in Pakistan and urged for providing investment opportunities in Special Economic and Investment Zones in Pakistan.

According to handout issued here on Saturday, he said that Russia is interested to enhance investment through joint ventures and collaboration in dif-

ferent areas.

Gorbulin said that both countries should work on the plans of cooperation to strength the trade and economic ties.

He expressed the desire of investments in power sector to meet the energy demands of Pakistan. He said that investments can be made in coal and hydropower sectors to generate electricity.

Gorbulin also identified areas of mining, copper and gold for Russian investments and expressed the hope that visit of President of Pakistan to Russia

in next month will open up new horizons of cooperation and enhancing trade and investment opportunities.

Mehfooz Elahi, President of Islamabad Chamber of Commerce & Industry said that through Agreement of Economic Cooperation, Pakistan and Russia can work together to join hands in various sectors.

He giving the details of investment said that Russian investors should see Pakistan as an excellent place for See # 5 Page 7

MUMBAI: President Barack Obama Saturday announced 10 billion dollars in trade deals with India that he said will create 50,000 US jobs, as he sought to show Americans an economic dividend from his state visit.

Obama made the announcements, and also unveiled a major reform of US export controls to benefit trade with India, in a speech to US and Indian businessmen and entrepreneurs soon after arriving in India's commercial capital Mumbai.

"As we look to India today, the United States sees an opportunity to sell our exports in one of the fastest growing markets in the world.

"For America this is a jobs' fair. As we recover from this recession we are determined to rebuild our economy on a stronger foundation for growth."

"Part of that foundation involves doing what America has always been known for, discovering and creating and building the products that are

Awan hints at 19th amendment ISLAMABAD: Federal Minister for Law Dr Babar Awan has said that 19th amendment will have to be brought in the parliament to approve the recommendations made by Supreme Court pertaining to 18th amendment in its order.

"The way the parliament has passed 18th amendment unanimously, 19th amendment will have to be brought for approval of recommendations and proposals sent by the SC through short order pronounced in the pending hearing case of the 18th amendment", he said this while talking to media men after the meeting of Judicial Council here Saturday.

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Steps afoot to quell power crisis: Ashraf KARACHI: Federal Minister for Water and Power Raja Pervez Ashraf has said that government is taking every possible step to control the electricity shortfall in the country. He said Prime Minister has directed that the industrial areas of Karachi would not be affected from load shedding.

Addressing a press conference here on Saturday, the federal minister said that Thar coal is asset of the country and the government will utilize Thar See # 10 Page 7

sold all over the world."

US President Barack Obama urged India to relax trade and investment barriers to boost economic relations between the world's two largest democracies.

Obama, who is on a threeday visit to India, told a business audience in financial hub Mumbai that the country must make "a steady reduction in barriers to trade and investment" in sectors from retail to telecommunications.

"We want to work with you to remove the barriers," he said.

Washington wants a level playing field for its companies in India and has called on New Delhi to ease restrictions to foreign investment in sectors such as retail, defence, agriculture and insurance.

"Our trade with India is still less than our trade with the Netherlands," Obama said. "I have no doubt we can do much better -- there is no reason why this nation can't be one of our top trading part-

ners."

The deals announced by Obama include major ventures and sales by several top US blue chips firms, including Boeing and GE. Earlier after signing the visitors' book at the Taj Mahal Palace and Tower Hotel here, President Obama said he looked forward to deepening counter-terror cooperation with India.

"I look forward to deepening counter-terror cooperation when I meet Prime Minister Manmohan Singh," Obama said.

India and the US were working more closely than ever to keep their people safe, Obama said.

He described the Taj hotel, his first halt at the start of a hectic India visit, as "a symbol of strength and resolve" for withstanding the horrific terror attack of 2008.

"Taj has been a symbol of strength and resolve.

Mumbai has been a symbol of incredible energy," Obama said. -Agencies

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Arrests made over Afghan UN raid KABUL: Afghan security forces have detained three insurgents they blame for an attack on a UN compound last month and believe they have links to Afghan Taliban leaders based in Pakistan, security officials said on Saturday.

Four Taliban suicide bombers, dressed as police and women, attacked the main United Nations compound in Herat city, a commercial hub in Afghanistan's west, on October 23. All four were killed and there were no casualties among UN staff.

The pace and scope of such security transfers will determine when and how many foreign troops can leave Afghanistan.

Sayed Ansari, a spokesman for Afghanistan's National Directorate of Security (NDS), said one of the three detained men, identified as Noor Mohammad, had been responsible for transporting the four suicide bombers from Quetta in Pakistan.

The bombers were taken from Quetta through southern Kandahar province, the birthplace of the Taliban, to Herat, Ansari said.

Ansari said the attack was directly connected to the "Quetta shura", the senior Afghan Taliban leadership based in Quetta in Pakistan's Baluchistan across the border from Kandahar.

"The attack took place under orders from Mullah Esmatullah Samangani, who is a current member of the Taliban's Quetta shura and now lives in Pakistan," Ansari told a news conference.

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Mistrust mars Pak ties with US: Sharif RAIWAND: Quaid Pakistan Muslim League (PML-N) Mian Mohammad Nawaz Sharif Saturday made it clear that the Obama administration has to remove reservation of Pakistan people, adding that, mistrust between Pakistan and US can not be eliminated without stopping US drones attack in country's tribal areas.

Talking to newly appointed US ambassador in Pakistan Cameron Minter here, the Quaid PML-N said that his Party would continue its effort for durable democracy in the country. During the meeting, country's Political situation,

war against terrorism, Pak-US relations and matters of mutual interest were discussed in length, sources informed Online.

Chief Minister Punjab Shahbaz Sharif, Senator Ishaq Daar and Opposition leader in the National Assembly Chaudhry Nisar Ali Khan were also present on the occasion.

Quaid PML-N Mian Mohammad Nawaz Sharif asked the US ambassador to Pakistan to understand the Ground realities of Pakistan in connection with war against terrorism. He said US should

halt drone strikes immediately because it is Proving counterproductive.

He also underscored the need of stronger relations between Pakistan and US. The Chief Minister Punjab thanked the US Ambassador over his country's assistance for rehabilitation and reconstruction of flood affected areas.

American Ambassador to Pakistan Cameron Minter said that his country is eager to establish strong ties with Pakistan at Public level and different development schemes and Projects are being implemented in this regard.

Taliban threaten to kill all talking peace KABUL: Scribbled notes from Taliban leader Mullah Mohammad Omar have surfaced in mosques all over Afghanistan's Pakhtun heartland, threatening death to anyone who takes up a government offer to negotiate for peace, according to a long-time Taliban member.

Trying to quash rumours of a break in their ranks, the Taliban also have vehemently denied news reports that representatives of the militant group were involved in negotiations with the Afghan government.

The leadership could be worried that commanders might strike separate deals that would threaten to undermine the militancy and cripple the morale of their rank-and-file fighters.

President Hamid Karzai has made reconciliation a top priority and recently formed a 70member High Peace Council to find a political solution to the ongoing conflict. At the same time, the US-led coalition has ramped up its military campaign in an effort to pound Taliban commanders to the negotiating table.

There are no signs that either strategy is having much effect on the senior Taliban leadership.

A veteran Taliban member who reportedly visited the powerful Shura, or council, in Quetta controlled by Mullah Omar said there was no talk of negotiation among those who controlled the militancy.

"None of the big Taliban is talking," the bulky, bearded Taliban member said on condition of anonymity for fear of reprisal from both the government and the religious See # 11 Page 7

Obama not likely to push India hard on Pak: NYT WASHINGTON: American military commanders want India to formally reject an Indian military doctrine they say is fuelling tensions with Pakistan and hindering the American war in Afghanistan, the New York Times reported Saturday. New Delhi denied any such doctrine even exists.

But administration officials say they do not expect President Barack Obama to

broach the subject of the doctrine, known informally as Cold Start, the daily said.

At the most, it quoted unnamed officials as saying, that Obama will quietly encourage Indian leaders to do what they can to cool tensions with Pakistan.

"That would be a victory for India, which denies the very existence of Cold Start, a plan to deploy new ground forces

that could strike inside Pakistan quickly in the event of a conflict," it said.

"India has argued strenuously that the US, if it wants a wideranging partnership of leading democracies, has to stop viewing it through the lens of Pakistan and the Afghanistan war.

"It is also a victory for those in the administration who agree that the US and India should focus on broader concerns,

including commercial ties, military sales, climate change and regional security.

"However vital the Afghan war effort, officials said, it has lost out in the internal debate to priorities like American jobs and the rising role of China."

Gen. David H Petraeus, the top commander in Afghanistan, is among those who have warned internally about the dangers of Cold Start, according to

American and Indian officials.

Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, and Richard C. Holbrooke, the special representative to Afghanistan and Pakistan, share these fears.

The Times said the strategy calls for India to create fastmoving battle groups that could deliver a contained but sharp retaliatory ground strike inside Pakistan within three days of

suffering a terrorist attack by militants based in Pakistan, yet not do enough damage to set off a nuclear confrontation.

Pakistani officials have told the US that worries about Cold Start are at the root of their refusal to redeploy forces away from the border with India so that they can fight Islamic militants in the frontier region near Afghanistan.

The administration raised the

issue of Cold Start in November last year when Indian Prime Minister Manmohan Singh visited Washington, the daily said.

Indian officials responded that the strategy was not a government or military policy, and that India had no plans to attack Pakistan. And so, they added, it should have no place on Obama's agenda in India. -Reuters

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