The Financial Daily-Epaper-09-01-2011

International Karachi, Sunday, January 9, 2011, Safar-ul-Muzaffar 4, Price Rs12 Pages 8

Government to protect children rights: Sharmila

Khi violence leaves 1 dead, 25 hurt Wapda estimates 960MW more in 4yrs

See on Page 8

Ministries-shift terms beneficial

See on Page 8

See on Page 2 Economic Indicators Forex Reserves (1-Jan-11) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Oct 10)

GDP Growth FY10E Per Capita Income FY10 Population

US Vice President Biden reaches Isb next wk

$17.20bn 14.44% $8.88bn $15.37bn $(6.49)bn $(504)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5348.6bn $287.9mn -2.81% 4.10% $1,051 171.48mn

US pledges more fiscal help to Pak Pak urged to move against Taliban havens in tribal belt: WP

Portfolio Investment SCRA(U.S $ in million)

158.27 -37.13 -0.40 2900

Yearly(Jul, 2010 up to 7-Jan-2011) Monthly(Dec, 2010 up to-7-Jan-2011) Daily (7-Jan-2011) Total Portfolio Invest (31 Dec-2010)

NCCPL (U.S $ in million)

FIPI (7-Jan-2011) Local Companies (7-Jan-2011) Banks / DFI (7-Jan-2011) Mutual Funds (7-Jan-2011) NBFC (7-Jan-2011) Local Investors (7-Jan-2011) Other Organization (7-Jan-2011)

3.69 4.28 0.06 -6.77 -0.26 -0.96 -0.05

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

Close 12,389.04 10,541.04 23,686.63 19,691.81 2,752.33 2,838.80 5,984.33 11,674.76

Change 65.57 11.28 99.67 492.93 4.47 14.60 35.18 22.55

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 2.60 111.32 23.55 201.66 2.00 42.82 1.70 36.39 11.07 37.92

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)

29-Dec-2010 29-Dec-2010 29-Dec-2010 29-Nov-2010 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011 08-Jan-2011

13.20% 13.41% 13.73% 14.00% 13.22% 13.47% 13.65% 14.01% 14.15% 14.23% 14.24% 14.26% 14.59% 14.77% 14.96%

Commodities Crude Oil (brent)$/bbl 93.33 Crude Oil (WTI)$/bbl 88.03 Cotton $/lb 140.60 Gold $/ozs 1,368.90 Silver $/ozs 28.67 Malaysian Palm $ 1,224 GOLD (NCEL) PKR 37,817 KHI Cotton 40Kg PKR 10,503

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 84.30 Canadian $ 85.10 Danish Krone 15.00 Euro 111.20 Hong Kong $ 10.40 Japanese Yen 1.015 Saudi Riyal 22.67 Singapore $ 65.4 Swedish Korona 12.00 Swiss Franc 86.50 U.A.E Dirham 22.97 UK Pound 132.1 US $ 85.65

Sell (Rs)

85.30 86.10 15.10 113.40 10.50 1.041 22.83 66.40 12.70 86.70 23.38 133.90 85.95

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

Selling

TT Clean

TT & OD

85.28 86.19 14.83 110.52 11.01 1.030 22.83 66.13 12.35 88.48 23.31 133.15 85.63

85.48 86.39 14.86 110.78 11.04 1.033 22.88 66.29 12.38 88.69 23.36 133.46 85.82

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

15°C 27°C 08°C 10°C 12°C 15°C

MIN

02°C 08°C 03°C 06°C -08°C 04°C

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KARACHI: President Asif Ali Zardari presiding over a meeting to discuss gas and power requirements in Sindh at Bilawal House.-APP

Sindh Bank urged to allocate 40pc jobs to women

President pushes for more oil, gas drilling KARACHI: President Asif Ali Zardari has directed that a comprehensive plan be prepared for extraction of oil and gas from abandoned wells as well as for setting up captive power plants for selected industrial zones and areas.

He made the directions after a briefing on the energy

requirements for industrial estates in the Sindh province.

The briefing was attended by Sindh Chief Minister Syed Qaim Ali Shah, Federal Water and Power minister Raja Pervez Ashraf, Law Minister Babar Awan, provincial ministers and federal and provincial government officials.

The President directed that a comprehensive plan be prepared for extraction of oil and gas from abandoned wells as well as for setting up captive power plants for selected industrial zones and areas.

He said that captive power plants were needed to reduce See # 9 Page 7

Pak-China relations to strengthen more: Gilani

Shahzain bail plea rejected

PM releases fund for affected Hajis ISLAMABAD: In the light of Supreme Court (SC) decision Prime Minister (PM) Syed Yousuf Raza Gilani has released funds to make payment of 700 riyal each to 26660 pilgrims who remained deprived of residential facility during Hajj.

As per details prime minister had released special grant of Rs 429 million on Saturday. 700 riyal per each will be returned to 26660 pilgrims who were not provided residential and other facilities during Hajj.

PM had directed ministry for religious affairs to contact affected Hujjaj and deposit 700 riyals per each to their respective accounts.

It may be recalled that SC in its verdict a few days back had directed that 700 riyal each be returned to 26660 Hujjaj who remained deprived of residential facilities during Hajj.

Meanwhile, Prime Minister Syed Yousuf Raza Gilani said that Pakistan and China would continue to deepen their See # 13 Page 7

Nisar criticises MQM's U-turn ISLAMABAD: PML-N and MQM are once again at daggers drawn with each other as Chaudhry Nisar Ali Khan and Haider Abbas Rizvi took a dig at the political moves of each other's parties.

Nisar lashed out in the National Assembly against the MQM for rejoining the ruling government while MQM's Rizvi replied by saying the PML-N is not on good terms with any political party.

Nisar targeted the MQM, par-

ticularly its demands of a revolution. He also taunted the MQM for putting up a show to seek benefits. In response, Rizvi said the PML-N is not happy with the MQM's ideology of a revolution.

He added that credit should go to the MQM for forcing the government to reverse the price hike in petroleum products.

Opposition leader said if the Muttahida Qaumi Movement (MQM) had to rejoin the See # 14 Page 7

Musharraf calls Sharif Taliban LONDON: Former president Pervez Musharraf has called former prime minister Nawaz Sharif a "closet Taliban" adding that both PPP and PML-N have become dysfunctional.

"I call Nawaz Sharif a closet Taliban. He's a man who is -who has been -- in contact with Taliban. He is a man who, today, appeases the clerics -the extremists," 'Foreign Policy' quoted Musharraf, as saying in an exclusive interview.

Moreover, he has tried his hand at leadership as prime

minister twice in the past -- and he has failed.

Why are we giving him a third chance to destroy Pakistan? My new party is an alternative to the people of Pakistan with the hope of changing the conditions of the people of Pakistan and the state.

At this moment, there is such hopelessness, and there is such a sense of despondency in the people of Pakistan. It's worrisome. People are quitting Pakistan. They want to leave the country.

See # 15 Page 7

QUETTA: The bail application of Nawabzada Shahzain Bugti and his associates has been turned down, according to a ruling announced by a local court here on Saturday.

Shahzain's counsel said, "We would approach Balochistan High Court after the bail plea has been rejected. Keeping in view the legal aspects, we were quite sure that court will grant the bail.'

This is nothing new for Jamhoori Watan Party (JWP) and the family of Nawab Akbar Bugti, Shahzain's counsel said stressing, 'We will continue legal battle', reported a private TV channel.

See # 10 Page 7

Inflation up 20pc WoW KARACHI: The inflation rate has soared by more than 20 per cent during the first week of the fiscal year 2011, according to Federal Bureau of Statistics (FBS).

The fiscal year 2011 began with the price hike of petroleum which was withdrawn a week later due to political pressure, however according to the government statistics, as a result of increase in rates of cooking oil and ghee, inflation rate has surged by more than 20 per cent.

See # 11 Page 7

Pak, India secys to talk on Feb 6-7th ISLAMABAD: Foreign Secretaries of Pakistan and India will meet on the margins of the Saarc Standing Committee meeting scheduled to take place in Thimphu on 67 February 2011, says Foreign Office spokesman.

The upcoming meeting of the two foreign secretaries will be the first one since September last year, when they met in New York on the margins of the UN General Assembly session but were unable to make any headway in their talks.

See # 12 Page 7

WASHINGTON: The Obama administration has decided to offer Pakistan more military, intelligence and economic support, and to intensify US efforts to forge a regional peace, despite ongoing frustration that Pakistani officials are not doing enough to combat terrorist groups in the country's tribal areas, officials said.

The decision to double down on Pakistan represents the administration's attempt to call the bluff of Pakistani officials who have long complained that the United States has failed to understand their security priorities or provide adequate support, reported The Washington Post.

That message will be delivered by Vice President Biden, who plans to travel to Pakistan next week for meetings with military chief General Ashfaq Kayani and top government leaders.

Biden will challenge the Pakistanis to articulate their

US can interfere in Pak economic affairs: Munter ISLAMABAD: US ambassador to Pakistan Cameron Munter has said that the United States has right to interfere in Pakistan's economic and governance affairs as the former provides funds to it.

Addressing a ceremony here, Cameron said that the United States provides largest aid to Pakistan, therefore, it has right to interfere in economic and governance affairs. See # 5 Page 7 long-term strategy for the region and indicate exactly what assistance is needed for them to move against Taliban sanctuaries in areas bordering Afghanistan.

The strategy, determined in last month's White House Afghanistan war review, amounts to an intensifying of existing efforts to overcome widespread suspicion and antiAmerican sentiment in Pakistan, and build trust and stability.

President Obama and his top national security aides rejected proposals, made by some mili-

tary commanders and intelligence officials who have lost patience with Pakistan, to allow US ground forces to conduct targeted raids against insurgent safe havens, officials said.

They concluded that the United States can ill-afford to threaten or further alienate a precarious, nuclear-armed country whose cooperation is essential to the administration on several fronts.

The conclusions were referred to in a publicly released, five-page summary of the review as unspecified See # 6 Page 7

Consultations under way for Punjab Governorship

Khosa leads race for Governor ISLAMABAD: President Asif Ali Zardari was set to appoint close aide Latif Khosa to succeed the murdered governor of the Punjab province, officials said, another step in resolving a week-long political crisis.

President Zardari was expected to name Khosa, a former attorney general.

"Khosa is most likely to be appointed as Punjab governor," a senior government official

said. Other top officials confirmed the appointment was expected.

Khosa told Reuters on Saturday that Zardari had called him along with Defence Minister Ahmed Mukhtar and Finance Minister Hafeez Sheikh for a meeting in Karachi.

"I will accept whatever the decision of my leadership," he said.

See # 7 Page 7

Not interested in governorship, says Aasma KARACHI: President Supreme Court Bar Association (SCBA) Aasma Jahangir has said she has no intention to become Governor Punjab, adding SCBA president office is greater than governorship.

See # 8 Page 7

2

Sunday, January 9, 2011

Flood affectees need more aid for rehab, says CM Qaim

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah presiding over a meeting with UNDP delegation at Chief Minister House. -APP

Gas shortfall highest in history ISLAMABAD: The gas shortfall has reached at the highest mark of the history of the country while the consumers have to suffer intense problems due to Sui gas shortage.

As per details, the worst kind of Sui gas shortfall has increased to 1.3 billion cubic feet while there is possibility that the shortfall would increase further.

According to reports, the industry in the country is badly affected due to decrease in gas production.

The gas shortfall has become 800 million cubic feet in Sui Northern region and 50 million feet in Sui Southern gas company.

The supply of the gas has become 1 to 2 thousand million cubic feet. People have started protest demonstrations in different parts of the country against gas load shedding.Online

PIA workers criticize MoU with Turk Air 'MD PIA has signed death warrant of the airline' KARACHI: Employees and Associations of PIA employees have termed latest MOU between PIA and Turkish airline a death warrant and management's secret step to terminate airline operations in Istanbul.

Pakistan Airlines Pilots Association (PALPA), Society of Aircraft Engineers of Pakistan (SAEP), PIA's Senior Staff Association (PIASSA), People's Unity, Collective Bargaining Agent (CBA), Aircraft Technologist Association of Pakistan (ATAP) criticized this act of PIA management in a joint statement and said this act will be a potential cause of an unwavering loss to national flag carrier.

President PALPA, Capt Sohail Baluch said the termination of flight operation in Turkey will not only minimize the revenue of the airline but will cut

down its size to a meager regional domestic carrier.

President PALPA said that the Pakistanis mostly opt for national flag carrier for simple reasons of local native language speaking crew and direct flight to avoid hassle of changing planes at foreign destination.

President CBA, Kamran Chaudhry, criticizing the management's unwise marketing policy to convert an International airline into a regional while giving its international business to other airlines said that now all the employees of PIA will be working to earn profits for another airline while its own shareholders are waiting since years to earn profit from their investments.

Shaukat Jamshed, President SAEP strongly condemningthe action said the PIA Management has failed to understand the core issues and instead of devis-

ing rational strategy for rehabilitation of national flag carrier they are putting the airline into a new dilemma.

This action of PIA's management is a live evidence of their incompetence. He said that any category of loss to national flag carrier will not be acceptable to SAEP. Abid Saleem Khan, President PIASSA has demanded that PIA Management should take the elected representatives of PIA employees into confidence and brief them on the planned arrangement between PIA and Turkish Airline.

CBA, PALPA, SAEP, PIASSA and ATAP jointly agreed to knock the door of judiciary if PIA management fails to withdraw from this illogical business strategy. They also requested the honorable Chief Justice Pakistan for suo motu action on this national concern.-Online

TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz

LAHORE: Activists of Civil Society hold a demonstration rally against the killing of former Governor Punjab Salman Taseer outside Quaid-e-Azam Library. -Online

Health Minister opens renovated OPD at CHK Staff Reporter

SUNDAY Time Programmes 8:00 Chai Time (Rpt) 9:05 Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News

KARACHI: Dr. Sagheer Ahmed, Provincial Minister for Health Saturday inaugurated the renovated and upgraded OPD at Civil Hospital Karachi. Hashim Raza, Zaidi, Secretary Health, Government of Sindh, Prof. M. Saeed Quraishy, Medical Superintendent, Civil Hospital Karachi, Vice Chancellor DUHS Prof. Dr. Masood Hameed Khan, Abdul Baqy Khan, M.D, Merck (Pvt.) Ltd. which renovated the ward and a number of notables,

doctors and government officials also attended the ceremony.

The Government is fully conscious that cost and delivery system of health care are major issues for the weaker section of society and the Government is investing hugely to improve and provide basic health facility at the door step of the people."

Prof.

M. Saeed Quraishy Medical Superintendent Civil Hospital Karachi said, "The health care infrastructure in Pakistan needs improvement and

the contribution by Merck is an excellent example of co-operation between private and public sector to deliver quality health care.

Abdul Baqy Khan said, "We at Merck are very conscious of our responsibility to promote health.

Through projects like these we wish to show our deep commitment and make our best possible effort to bring about positive change by joining hands with the public sector to provide quality medical care to the common people."

KARACHI: Sindh Minister for Health unveilling the plaque to inaugurate the renovated OPD at Civil Hospital. -Online

KARACHI: Chief Minister Sindh Syed Qaim Ali Shah held a meeting with a delegation of United Nations Development Programme (UNDP) at Chief Minister House on Saturday.

Chief Minister Sindh discussed the situation prevailing in the province after heavy floods, which damaged most of the districts of province and more that 7 millions people were badly affected. He appreciated the role of United Nations and specifically the efforts of the Secretary General who apprised the world nations to come forward and help the affected people of Pakistan, who were facing hardships, due to devastation and disasters caused by the floods.

Syed Qaim Ali Shah said that 50 percent affectees are still facing hardships and are in acute need of shelter,

Cotton farmers laud APTMA LAHORE: Pakistan Cotton Forum (PCF) has appreciated the APTMA efforts in securing free market mechanism for cotton trade by seeking timely intervention from President of Pakistan and helping transfer of Rs200 billion to the farm sector representing cotton.

Chairman PCF Seth Muhammad Akber expressed the hope that this financial resource transfer to the farm sector would steer the cotton farmers out of devastating impact of recent floods, principally hitting the cotton growing areas.

According to him, the APTMA leadership also deserves appreciation from the cotton farmers for passing on international cotton price to the farm sector by actively pursuing the government on free market mechanism. In contrast, he said, the Indian cotton farmer is being hit hard due to suppressed cotton prices by 30 percent approximately amidst unwanted government intervention to free market mechanism there.

He said it is right time to learn lessons as how the free market mechanism can help fair transfer of resources to all sub-sectors without hurting any link of the textile chain in the country.

According to the PCF chairman, availability of free market mechanism in country is also a defeat to the certain vested interest elements seeking unjust government intervention in cotton trade against the larger interest of the cotton farmers. -Online

‘Govt to protect childrens rights’ Staff Reporter KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that Sindh government has taken all possible measures to protect the rights of the children and women and 18th amendment has provided protection to the children.

This she said while talking to a delegation of Human Rights Protection International here in her office on Saturday. She admitted that poverty was a big factor behind people sending their children out to work or even worse, selling them to these who used them as laborers and government was curbing that practice.

Sharmila added that government had passed a bill providing protection to working women against the harassment in the workplace -Online

food and other relief goods.

He maintained that the over all situation is alarming and all countries be approached to come forward and extend further help and assistance so as to meet the needs of affected people. aid Chief Minister Sindh supported the proposal of holding a Seminar thereby inviting the concerned representatives of foreign countries, to be organized jointly by Government of Sindh and UNDP. He opined that before holding of Seminar, the pros and cons of the conference must be perused and efforts so that the effects are prominently coordinated. Syed Qaim Ali Shah said that the floods have destroyed the infrastructure thus affected houses, educational and health institutions. He said that special measures were made for rescue and relief work while the rehabilita-

tion and reconstruction is continuing and requires help from donor agencies.

He said that there was over all loss of $4.2 billion while the provincial government has made adequate arrangements with expenses of over 45% resources.

Sindh Minister for rehabilitation Haji Muzaffar Ali Shujra, Advisor to C.M for Planning & Development Qaisar Bengali and Chief Secretary Sindh Ghulam Ali Pasha briefed the meeting about work so far done about rehabilitation and reconstruction of flood affected people and areas in the province of Sindh. It was informed that half of the total affected people are still in camps and now the situation is very crucial. They appreciated the role of UNDP which has put the resources from donor agencies to help the

PML-N not to revisit its ultimatum Staff Correspondent LAHORE: Senior leader of PML-N and MNA Mohammad Pervez Malik has said that Pakistan Muslim League Nawaz would not reconsider its ultimatum to the government as the PMLN Chief Mian Mohammad Nawaz Sharif had raised the demands in the larger interest of the country.

Talking to the media on Saturday, Pervez Malik said that PML-N had never ever compromised on the national issues and will adhere to its brighten tradition. He said that 10point agenda of PML-N Chief was in the larger interest of the country and a move to protect the nation from anguish being given by the PPP government.

Replying to a question, Pervez Malik said that PML-Q and MQM were

actually following the policy of self interest. He said that MQM always remained the part of all regimes to enjoy the powers and influence.

MQM separation from the Federal Cabinet was a planned show and a move to pressurize the PPP-led government. He said PML-Q leadership, who is feeling the pain of democracy today, remained the part of dictatorship regime played havoc with the country under the umbrella of dictator Pervez Musharraf.

He said people who used to claim that they would elect Pervez Musharraf as president of Pakistan in uniform 10 times were actually murderer of democracy. He said that self-interest followers were not politically mature and actually hollowing the democratic system in the country.

affectees. It was informed that the UNDP team went various areas particularly in Thatta district and met the persons of various departments, and industrialists. It was further informed that post flood issues have been discussed in detail and further line of action is being evolved.

Deputy Country Director - Programmes UNDP JEAN LUC STALON, Expert UNDP Thomas Gurtner, Country representatives British Red Cross John English, CEO British Red Cross Sir NICHOLAS YOUNG-UNOCHA Dr. Salman Safdar and UNDP representative Dr. Hafiz Pasha informed the meeting that United Nations Organization (UN) has mobilized the world people and approached the concerned person for providing assistance for flood affected people. -Online

Experts call for housing policy TFD Reoort ISLAMABAD: With the rapid trend of urbanization, the twin cities of Islamabad and Rawalpindi are expanding and there is dire need to take effective steps to overcome the residential problem which is increasing with every passing day.

The capital city and its adjoining Rawalpindi is on the top of list as far as the accommodation problem is concerned. Though there are several private housing schemes in twin cities, yet they seems not fulfilling the demand of houses.

It is a fact that Rawalpindi is greatly helping the capital to overcome the problem but still concerned authorities should ponder the problem and devise a comprehensive master plan to facilitate the construction of new houses.

Architectural experts are of the view that the basic reason of the supply and demand gap is due to change in administrative set up of the twin cities.

KARACHI: Advisor to PM on Textile Dr. Mirza Ikhtiar Baig presenting Pakistan Award 2010 to educationist Muzammil Ahmed Ferozi.

LCCI seminar

Pak women urged to enter business, trade LAHORE: Chairperson LCCI Women Empowerment and Advocacy Forum, Shireen Arshad Khan (MNA) on Saturday said that a proposal was under consideration to allocate 20 per cent seats in all Fashion Designing Institutes (FDIs) working under Ministry of Commerce for poor skilled women.

The MNA was speaking at a seminar on the "Importance of Fashion and Trend Forecast in Apparel Business" organised by the Lahore Chamber of Commerce and Industry on Saturday. LCCI President Shahzad Ali Malik, Vice

President Sohail Azhar, MPA Ghazala Saad Rafique, Principal Pakistan Institute of Fashion Design Ms Hina Tayyaba, Chairman Skill Development Council Rehmatullah Javaid and renowned designer Yasir Waheed also spoke on the occasion. Shireen Khan said that the proposal for imparting training to needy skilful women was prepared because the talented women were unable to make a mark in the international market.

This was because they did not have a certificate from any reputed institution, a prerequisite to enter world market,she added. Stressing the need for promoting branding

culture in Pakistan, she said the private sector would have to work out methodology to this regard to wear off the intensity of present day economic meltdown.

Shahzad Malik urging the women to come forward and show their abilities said that the conditions have much improved in Pakistan, both in rural and urban areas.

Today's women are well aware of their rights, are equally educated and are entering into non-traditional businesses like boutiques, textile designing, printing and publishing, architecture, banking, IT, business management and fashion designing, he added. -APP

3

Sunday, January 9, 2011

Mobile Prices Updated on 8 January, 2011

FACEBOOK’S NEW SECURITY MEASURES

ALI ZHORAIZ JAFFRI

Facebook Wants to Supply Your Internet Driver's License

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A

lthough it's not apparent to many, Facebook is in the process of transforming itself from the world's most popular socialmedia website into a critical part of the Internet's identity infrastructure. If it succeeds, Facebook and Facebook accounts will become an even bigger target for hackers.

As security professionals debate whether the Internet needs an "identity layer"—a uniform protocol for authenticating users' identities—a growing number of websites are voting with their code, adopting "Facebook Connect" as a way for anyone with a Facebook account to log into the site at the click of a button.

Facebook introduced Connect back in July 2008, offering third-party websites tools to coordinate with the user information that Facebook holds, including logins. Thus websites had the option of allowing Facebook users to identify themselves with their Facebook identities.

So, for instance, the Web statistics vendor Alexa gives new users the choice of creating an account by entering a username and a password or by simply clicking the "Connect with Facebook" button. Well-known websites that also use Connect include the Internet Movie Database, Ask.com, and ESPN. Others will almost certainly jump on the bandwagon in 2011.

Facebook's identity system might very well supply something that VeriSign, Microsoft, Yahoo, and Google have all struggled to offer: a single "driver's license" for the Internet. (This leaves aside the question of whether it's a good thing for one company to hold such a position of power.)

A unique combination of factors makes Facebook well suited to being the repository for people's identities on the Internet. Unlike many popular

websites, it requires users to register and log in. And Facebook's terms of service require that "users provide their real names and information"—indeed, Facebook has terminated accounts that were created with seemingly fake names or for fictional characters. Since Facebook users invest their accounts with a tremendous amount of durable personal content—including photographs, contact information, and connections to their social network—they are likely to keep a long-term relationship with the site.

This persistence of real identity puts Facebook in a position to solve one of the most pressing problems on the Internet today—the proliferation of user names and passwords.

Contrary to today's practice, there is no reason for most websites to force their users to create usernames and passwords.

Most websites don't need or even want or need to manage the identities of their users—they simply want a way to reliably identify their users over time. Media websites, for instance, want to be able to attribute comments and limit spam. Personal-finance websites want to give users a way to monitor highly personal information securely—for example, a portfolio of stocks that the user might enter.

What's more, maintaining a user-identity infrastructure has its risks—as was made painfully clear last month when hackers broke into servers operated by Gawker Media and downloaded the user names and passwords for more than a million of Gawker's accounts. Even though the passwords were encrypted, many were easy to guess, so the accounts could be readily cracked, according to an analysis of the attack by

security researchers at the University of Cambridge.

Following the attack several unrelated websites, including LinkedIn and Woot, sent email to their users warning them to change their passwords if these were the same ones as they used for Gawker.

Facebook Login lets any website on the planet use its identity infrastructure—and

such as the users' "friends" and "likes."

Currently, Facebook doesn't charge websites to use its identity infrastructure or access this additional information, though Facebook certainly could in the future.

Facebook is already well acquainted with Internet security issues, simply because it holds personal data for more

underlying security safeguards. It's easy to implement Facebook Login, simply by adding few lines of code to a web server. Once that change is made, the site's users will see a "Connect with Facebook" button. If they're already logged into Facebook (having recently visited the site), they can just click on it and they're in. If they haven't logged in recently, they are prompted for their Facebook user name and password.

An interesting side benefit for website operators is that Facebook Login provides the site with users' real names (in most cases) and optionallya variety of other information,

than 500 million people. The increased use of the Facebook platform for things beyond social media—a bank in New Zealand, for instance, announced in November that it would allow customers to access banking information on Facebook—obviously raises new concerns. And if the company extends its reach to offer a universal login on the Web, the challenges it's likely to face will become greater still.

Indeed, over the last few years Facebook has taken steps to improve the security of its platform in several ways.

For example, last year Facebook introduced a sys-

tem that lets users request a one-time password to log in from a public terminal that might have keystroke-logging spy software installed. Users send an SMS text message containing the letters "otp" to 32665 ("FBOOK") from a registered cell phone, and Facebook's servers send back a password that can be used just once to log into the user's account. The theory is that it doesn't matter if a hacker is running a password sniffer, since the password won't work a second time.

Another innovation is the way that Facebook allows users to monitor the various Web browsers and devices from which they log into Facebook. By clicking on the "Account Settings" pull-down menu and selecting the "Account Security" section, Facebook users are able to see all of the devices currently authenticated, any of which can be remotely logged out—useful if you happen to leave yourself logged in on your parents' computer. You can also have Facebook send an SMS notification to your cell phone whenever a new device accesses your Facebook account. Of course, if you see a connection from a machine that you don't recognize, it's time to change your password.

Unfortunately, Facebook still has two important vulnerabilities that makes its website significantly less secure than those of most U.S. banks: its reliance on a single user name and password to gain access to an account, and its use of an unencrypted cookie for tracking which web browsers are logged in.

The user name and password combo provide a point of weakness.

Facebook accounts can be compromised by an attacker who might steal this information from

At CES, Video Is King

Ford introduces MyFord Mobile application

From apps to chips, the moving image is everywhere.

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esterday, at the annual Consumer Electronics Show (CES) in Las Vegas, some of the world's biggest technology companies held press events laying out their plans for 2011 and beyond. These events reveal what the technology industry has on its mind— and right now, it's thinking a lot about on-demand video. But with many competing technologies and approaches, the picture still needs a little fine-tuning.

As 125,000 attendees gathered in Las Vegas for CES, which opens to the public today and features thousands of large and small exhibitors, television makers including LG, Sharp, Samsung, and Sony presented new Internet-enabled TVs that allow viewers to pull down movies, TV shows, and video from free Internet sites such as YouTube and premium services such as Netflix and Hulu Plus.

Generally speaking, all these televisions offer similar features, such as the ability to run third-party apps, with an emphasis on social networking, and the ability to access content on users' home networks. Despite their similarities, however, the offerings are fragmented—each

manufacturer has its own app store and its own selection of video sources. Sony's Google TV, for example, won't connect to Hulu, which hosts content from a number of popular U.S. broadcasters. And no one

television can yet access all the content available to a typical PC user. Interfaces also vary widely. Sony has a remote that includes a complete QWERTY keyboard,

along with a host of other keys, while LG has a simple controller with just six buttons. Clearly, the future of TV has yet to crystallize.

Apple's iPad has whetted consumers' appetite for on-demand video, and a bevy of new multimedia tablets on display at CES aim to satisfy it. LG will announce a new tablet today; Motorola is demonstrating the Xoom, which it will bring out in the first quarter of this year; and BlackBerry is showing off its Playbook, which is also due for release shortly. Sony plans to offer a portable version of its Dash Internet Viewer this summer, and Sharp has the Galapagos tablet. This is already available in Japan, and Sharp hopes to offer it in the United States in the second quarter of 2011, though it admits it has made no decisions on the price, what cellular carrier might handle the wireless data traffic, or what operating system the non-Japanese version might run (Android, which drives most of the other tablets, would be a strong contender). And of course, many smaller companies have announced iPad lookalikes at CES.

another site—or guess it by trying many combinations in succession (a so-called bruteforce attack).

"We've built systems to protect against these types of brute-force attacks," says Simon Axten, a spokesperson for Facebook. "For example, if we detect a number of suspicious login attempts for a given account, we will require a CAPTCHA, and we may even temporarily suspend access to the account."

Facebook monitors a number of "signals," including location and device, Axten says, to determine when an account is being subjected to a sustained attack. "Once we've flagged an attempt—even if the correct login credentials have been entered—we'll require the person logging in to provide additional authentication by, for example, answering a security question, entering a code sent via SMS, or identifying friends tagged in photos to which the account owner has access."

Nonetheless, there are ways to gain access to a person's Facebook account even without knowing the password.

That's because Facebook uses something called an authentication cookie to keep track of a Web browser when it's logged in. Unlike Facebook passwords, which are encrypted when they're sent over the Internet, the cookies are sent to Facebook's nonencrypted Web servers every time a computer communicates with the site. This isn't much of a risk if you are using a hard-wired Internet connection or an encrypted wireless connection at work or at home. But if you are using Facebook over an unencrypted wireless access point at a coffee shop or airport, someone running a packet sniffer on a laptop could steal your authentication cookie out of the air and then log into Facebook as you.

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adly Ford isn't confirming the Focus Electric that it saw fit to tease earlier this week, but we can now tell you all about the new smartphone app that will let you monitor the charging of... certain Ford vehicles.

The app is c a l l e d MyFord Mobile and it offers similar features to the apps we've already seen for the Nissan Leaf and the Chevy Volt, notably car's charging status from afar and deliver some climate settings to ensure that the car is properly hot or cold before you leave on your cold or hot commute.

The car will also let you find the car by GPS and, once you

do, unlock the doors with your phone.

When the car and the app launches there will be versions for Android, BlackBerry, and iOS, though interestingly there will be a an HTML-5 browser interface that'll even work on featurephones.

Yes, featurep h o n e s .

Interestingly, the app can automatically charge... whatever mystery vehicle you connect it to at the optimal time of the night to ensure you get the lowest cost for your juice, automatically pulling down rates from your utility so that you don't have to worry about it. That is what we like to call smart. And thrifty.

Latest Gadgets Casio TRYX cam unveiled at CES 2011

Satarii Star has its eye on you Do you use your iPhone often for Facetime?

Well, if you’re one of the select few who does so, then you might want to check out what the Satarii Star is capable of doing. This unique device will definitely need your iPhone to remain docked within, where it can swivel around to track your movement.To make things more flexible, it allows you to dock your iPhone in either portrait or landscape mode, literally allowing you to position it where you want it.

Glove Box Battery Jumper Having a dead battery in your car is not something everybody wants, but it does happen to the best of us from time to time.

Well, in such an event, you can always rely on the Glove Box Battery Jumper to help you out of a particularly tight position, and even better is you won’t need to have a friend or stranger who is willing to “lend” their car’s battery for you to jump start it.

There’s always a few stars at CES 2011. These are the products that get billboards devoted to them at the Las Vegas Convention Center, and one of them was the Casio TRYX. Since the digital camera market is flooded, it becomes very hard to come up with a camera that defies the usual conventions. The TRYX is that camera, as it has a very cool body.

Standard Xbox 360 controllers Razer certainly ain’t playing around when with a couple of new releases – the Onza Tournament and Standard editions of Xbox 360 controllers. Of course, Razer has more often than not been associated with gaming hardware for the personal computer, but not quite so with the video game console environment.

World’s first 3D camcorder does HD JVC intends to remain on the cutting edge of technology by rolling out the first consumer camcorder in the world that is capable of recording in full HD, courtesy of the new JVC-developed highspeed processor which is capable of producing a couple of simultaneous Full HD images. The model in question? The GS-TD1, where it will utilize a couple of camera lenses and a similar number of 3.32 megapixel CMOS sensors – one for each lens – in order to help it capture three-dimensional images in the manner where human eyes work.

4 Sunday, January 9, 2011

The Financial Daily International Vol 4, Issue 147

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board S. Muneer Hussain Rizvi

Haseeb Khan, FCA 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: 92-21-35311893-6 Fax: 92-21-35388428 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

US should help Pakistan overcome economic woes Lately, US Ambassador to Pakistan Cameron Munter and Acting US Special Representative for Pakistan and Afghanistan Frank Ruggiero recently met Prime Minister Syed Yousuf Raza Gilani and now Vice President Joe Biden is coming to Pakistan.

Some US military commanders and intelligence officers who have lost patience are asking Pakistan to allow the US ground forces to launch targeted raids against insurgent strongholds within Pakistan.

The proposal has already faced severe resistance and some quarters are even demanding the US to stop ongoing drone on Pakistan territory immediately.

Biden is expected to articulate a long-term strategy for the region and specify what assistance Pakistan needs to move successfully against Taliban safe heavens in areas adjoining Afghanistan. However, Pakistanis will be right is seeking clarification from the US administration regarding its future relationship with Taliban. The current US policy towards Taliban seems a little perplexing.

Let one point be very clear in US-Pakistan negotiations that Pakistan is not asking for aid or grants but the compensation. The war in Afghanistan stretched over three decades has affected Pakistan's economy the most and also proliferated militancy and sectarian divide in the country.

Another point also needs to be made clear is that the payments being made under Coalition Support Fund (CSF) are also the compensation for using Pakistani facilities and not any aid or grant. In fact it is a common complaint that deductions are being made unilaterally and payments delayed for long.

The US Ambassador to Pakistan has said that since his country is the largest donor/investor it becomes its (US) prerogative to respond on withdrawal of increase in POL prices. However, he has ignored one point that off and on issue of statements by the US administration/State Department tantamount to direct intervention in Pakistan's internal affairs.

We have repeatedly highlighted that if the US administration is serious in helping Pakistan and Pakistani it must help in overcoming economic woes and improving Indo-Pakistan relationship by helping in resolution of Kashmir issue.

On the economic front the US must grant greater market access to made in Pakistan textiles and clothing products and be rest assured that this would not cause any material injury to US textiles and clothing industry because Pakistani products don't fall in the category of 'identical products'.

We welcome the US support in revamping Pakistan's energy sector. However, it should keep in mind Pakistan's requirements rather than pursing its own agenda. Pakistan needs to add another 20,000MW to its power generation capacity over the next ten years. Bulk of this must be hydel based to help the country enhance water storage facilities and optimize cost of power generation. Along with this substantial investment also needs to be made in revamping/expanding transmission and distribution network for containing electricity pilferage.

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.

Our grave challenges and positive responses Tarique Khan Javed

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urrently Government is solely dependent on SBP for running its day to day affairs. If SBP refuses to print and provide loan of Rs 2,000 million, daily, the Government machinery will come to a halt. In Dec 2010, Governor of State Bank, for the first time in history, publicly complained that Government was forcing it to print notes at an alarming rate. He informed that between June 2010 and Nov 2010 Government borrowing increased from Rs 1,200 billion to 1,500 billion or 300 in 150 days. If you divide Rs 2000 million by 170 million people of Pakistan it translates to Rs 11.70. This is the amount of money which is being taken away from every Pakistani's pocket every day.

When we entered IMF program in Nov 2008, Governments borrowing from SBP was Rs 700 billion. We promised to bring it down to Nil within a year. By March 2009 it reduce to Rs 350 billion. However to everyone surprise the borrowing increased to Rs 1,200 billion by June 2010. Both the embarrassed Governor of State Bank and Finance Minister quietly left the Government. They failed in their public duty to warn of the dire consequences of this development on poor people of Pakistan. It is under this background the current SBP Governor has spoken out. This is a very encouraging development and from now on wards people should follow State Bank activities closely as done else where in the World.

For the first time a high ranking Government Official acknowledged the close link between currency in circulation and inflation. He said that rising inflation was mainly due to rising currency in circulation. As an excuse he mentioned that if SBP refuses to give such loan Government will borrow from Commercial Bank and that would still cause inflation.

As an Economist, he knows that this is not true and he has said this to cover up.

Borrowing from Commercial Banks is against deposits thus not inflationary while Borrowing from SBP which does not have any deposit, is by printing fresh notes and thus inflationary. In the first case there is a transfer of purchasing power from depositor to Government while in the second case new purchasing power is introduced in the market leading to general increase in all prices and goods and services remain the same while the number of currency goes up.

Governor of State Bank's attempt to gain public support is most welcome and we should led him that support on the same line as we did to boost the authority of Chief Justice. Rallies and marches in his favour should be brought out and he should be encouraged to refuse to print more notes. He should be asked to exercise the power which has been given to it by Parliament in 2010. SBP is now fully independent constitutionally and now it is a matter of using this power by its Governor.

With the matter in Public and given the strong stand taken by IMF in coming days it will become difficult for the Government to borrow more from SBP. This combined with current political turmoil the prospect looks bleak. Given PML-N deadline and agenda a shake up is imminent.

For the benefit of the new setup which may emerge I detail below my recommendations which can be implemented immediately with the current financial constrains. What is required is love of the people of Pakistan and clear sense of purpose.

Possible responses by Government: Desperate situation demand desperate measures and I suggest the following: l Increase Tax collection from Rs 1 trillion to 5 trillion: Based on tax collection record during British Rule when huge surpluses were earned and sent to UK it is easy to see that our tax collection has dropped substantially since independence. This was mainly due weak moral base of our Tax Officers and

checks and balances as it existed in pre independence time. If there is no hope of find honest officers locally and foreigners would not like to come under the given circumstances. The only option left to increase the tax collection substantially is by tendering out the Tax Collection system to private Cos. That is giving out Tax collection to a private Group on a fixed amount of say Rs 3 to 5 trillion compared to current collection of Rs 1.3 trillion. l Cut Civil and Military salaries and perks by 50%.

A revolutionary cut in Government expenses is imperative. Sighting the low collection and incoming restriction on further borrowing from SBP, Government must either reduce the number of Ministers and Government employees including that of Armed forces, say by half or reduce their salaries and perks by half. This should also apply to MNA and MPAs. If they do not like their new salaries; they may resign. The Country can not pay them well by starving the common people.

also rapidly reduce the huge gap between Rich and poor in the Country and much sought after social justice objective. The exception on Agriculture Income should also be removed to improve Direct Tax collection. Equitable tax on large houses according to size, shops according to size, cars and motorcycles depending on CC, heavy taxes on all luxury goods etc.

Sell all Armed Forces Land in cities Like rest of the World military installation should always be away from civilian areas for political as well as security reasons. Therefore we propose that a all Military installations in the cites may be moved to remote areas. All Military Land in the cities be auctioned though a transparent manner as in practice in Hong Kong and Singapore. This can generate estimated Rs 50 trillion. This can solve all current financial problems of the Country. Out of this Rs 10 trillion can settle all our Internal and External Debt removing for ever 1/3 expenditure of our current budget. Rs 10 tril-

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A revolutionary cut in Government expenses is imperative. Sighting the low collection and incoming restriction on further borrowing from SBP, Government must either reduce the number of Ministers and Government employees including that of Armed forces, say by half or reduce their salaries and perks by half.

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Redistribute land to give relief to poor in Rural area.

MQM has come up with a Land Reform Bill calling for maximum ceiling of 36 acres irrigated and 54 non irrigated per immediate family.

ANP's Manifesto calls for maximum ceiling for 50 acres per extended family as defined by NADRA.PPP carried Land reform in 1972 bring down ceiling to 150 acres irrigated. It further attempted reform in 1977 to reduce ceiling to 100 acres however it has not been implemented yet.

PPP, MQM and ANP should join force and agree to a compromise level say 50 acres irrigated per extended family and redistribute land to end poverty in Rural areas of Pakistan.

This will mean end of 60% poverty in the Country and would cost noting rather improve tax collection as new lease may be given at a higher rate. It will also boost production as current unused land will be brought under cultivation and more attention will be paid by small land holders compared to large ones.

Remove 'Indirect Taxes' on items used by common man l Remove all Sales Tax on Electricity and Gas. l Remove Oil and Gas development surcharges on Petrol, Gas, Diesel and Furnace oil. l Remove all custom duty on: l Edible oils (between 9,000 to 16,800 per metric ton) l Sugar 10%, l Salt-20%, l Pencilline-25%, l Bandages 20%, l Cigarates-35%, l Wine and Beer-90% and all other items used by the common man. All sales Tax and Excises duties on these items can also be removed.

This will immediately bring down prices of these items and provide relief to the poor.

Tax the rich heavily The lost revenue could be recovered by imposing 'Wealth Tax' of say 2% on all wealth over Rs 5 crore can bring in Rs 65 billion thus removing the need for RGST. An 'Inheritance Tax' at the rate of 40% as applicable in Iran can bring in over Rs 1000 billion a year and help us remove all 'In Direct taxes' listed above. This will

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lion can take care of the need to create state of the art military installations.

Rs 10 trillion if kept on deposit of say 10%pa can generate Rs 1,000 billion pa which more than double of current military expenditure of Rs 450 billion.

It will also mean elimination of further 1/3rd expenditure of the budget for ever.

The remaining Rs 20 trillion may be used to uplift the society in general and remove poverty rapidly. As a priority we may agree to following National duties: l Provide Clean drinking Water to all Pakistanis to reduce disease by 40%. l Make sure every Pakistani gets 2,200 calories everyday. l Make sure every Pakistani is educated upto class 8th to be familiar with Basic Science, English, Maths besides religious education to become part of World work force. l Make sure that every Pakistani child receives all immunization and every Mother gets proper care before and after birth of the child.

Make peace with India and open all old trade routes.

Make peace with India; with some adjustment in Kashmir borders, to concentrate energy on poverty alleviation and developing our part of Kashmir. Opening of two trade route in Kashmir is the model which is needed to be adopted in Punjab and Sindh as well. In Punjab Sialkot and Kasur trade route need to opened as soon as possible. More may be considered. Similarly in Sindh three to four trade routes may be opened to alleviate poverty in area like Tharparke where Nager Parker was an important trading post. After Pakistan trade continued on lower scale upto 1965 but after it died down and added to the poverty of the people in the area. Such opening will provide major relief to the people of Sindh as they will be able to travel to India inexpensively. Given the large Rajhistani and Gujrati communities in Sindh this will give a big boost to Thar as people will transverse it for travel to India.

Other points which may be considered are Musafir Khana, Rahim ki Bazar, Gadro and Vira Wah. These were natural trading post in the past.

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l Fast track SAFTA implementation.

SAFTA agreement under SAARC calls for free trade between members by 2013. However Pakistan happens to be the main hurdle in its implementation. The new sep may change this and remove all hurdles to its implementation in the interest of people.

Any pressure from vested interest may be brushed aside.

Remove all barriers to the working of market forces of demand and supply.

Adopt a small government attitude and let market forces play their role.

Only ensure that no Group is able to control and market to make extra ordinary profit and all market participants are provided equal playing field.

Introduce death penalty for taking bribe as is practiced in China.

Introduce very harsh property confiscation law for people found guilty of taking bribe or involved in making money by illegal means. The law should cover property in the name of all dependents like wife and children.

Create two Free Economic Zones in each Province.

Such zones should have their own simplified laws and provide one window service to investors. Like China these zones would become powerful economic engines of the Country and absorb surplus labour and alleviate poverty.

Create one additional Province in each existing Province Also relocate the Federal capital to a more central location. The new Provincial capitals should also be in central locations.

Restore 5% right for Locals in the natural resource taken out from their Area This right was granted by the Act of 1935. Such right is still available in India and Bangladesh. The denial of this right after discovery of Sui Gas is the root cause of Baluchistan problem.

Absorb all FATA and PATA into Pakistan by adopting Baluchistan model..

After 9/11 Pakistan is left with no choice but to absorb FATA and PATA into Pakistan and apply the same security arrangement as in existence in Baluchistan.

Create a Federal Mortgages Agency, with special eviction powers Agency to refinance property development. Such an Agency transformed USA after its creation in 1954.

The present standard of living in USA would be unthinkable without such Agencies. Such Agencies can raise unlimited funds from the International market.

Start a mandatory Saving Scheme for Overseas Pakistanis.

Linked with Passport renewal. Such as scheme can generate some USD 4 billion annually and provide support to Pakistan. It can also secure the future of Overseas Pakistanis, who otherwise end up spending all their savings on consumption items.

Let Iranian oil come Look other way and let the cheap Iranian oil flow into the Country unhindered, to save foreign exchange and reduce inflation.

Make people understand Quran Government should insist on reading of Quran in Urdu before Arabic.

Also compel rendering of translation of Ayats in Urdu after prayers. Based on my observation in Holland, I predict that terrorism and extremism based on religion, will vanish for ever within the next 30-40 years, with this master stroke. This will also substantially improve the moral character of the people and reduce corruption in private and public life.

Introduce working hours in line with Islamic teachings Which will entail start of days work within an hour of Fajar prayer? This will save lot of energy and promote healthy life style.

(The author is President of Overseas Pakistani Investors Forum)

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Sunday, January 9, 2010

Sleep apnea device eases fatigue

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eople with breathing problems that disrupt their sleep were less tired after three weeks of treatment with a breathing device compared to those treated with a placebo, US researchers said on Saturday. The findings show that regular use of treatment with continuous positive airway pressure ( C PA P ) m a s k s reduces fatigue caused by obstructive sleep apnea, a chronic disorder that affects 12 million Americans.

Sleep apnea raises the risk of high blood pressure, heart attack, stroke, irregular heartbeat and diabetes. It occurs when soft tissue in the back of the throat collapses during sleep, blocking the airway and causing the brain to rouse the sleeper, who gasps for air -- a cycle that can occur as many as 30 times in an hour. CPAP disrupts this cycle by providing a steady stream of air through a mask that keeps the airway open during sleep.

Companies that make CPAP treatments include Graymark Healthcare and ResMed Inc. "These results are important as they highlight that patients who comply with CPAP therapy can find relief from fatigue and experience increases in energy

and vigor after a relatively short treatment period," Lianne Tomfohr of San Diego State University and the University of California, San Diego, whose study appears in the journal Sleep, said in a statement.

Several studies have shown that CPAP treatment can reduce other health risks, such as lowering the risk of stroke, but few have studied the impact on fatigue, which can reduce work performance and increase the risk of accidents.

For the study, Tomfohr and a team at the University of California, San Diego, studied 59 adults in their late 40s who had at least 10 partial or complete pauses in breathing per hour of sleep. These volunteers were randomly assigned to get either CPAP or a sham therapy.

Both groups were trained on the proper use of the equipment and filled out questionnaires.

After three weeks, volunteers who got CPAP treatment had significantly less fatigue on two independent scales measuring fatigue and they reported having more energy. There was no such improvement among those who got the placebo treatment.

CPAP treatment is the most common treatment for sleep apnea.-Reuters

Fishy diet comes with lower risk of stroke W

omen who eat more than three servings of fish per week are less likely to experience a stroke, a new study suggests.

Specifically, fish-lovers in Sweden were 16 percent less likely to experience a stroke over a 10-year-period, relative to women who ate fish less than once a week.

"Fish consumption in many countries, including the U.S., is far too low, and increased fish consumption would likely result in substantial benefits in the population," said Dr. Dariush Mozaffarian of the Harvard School of Public Health, who reviewed the findings for Reuters Health.

When choosing fish to eat, it's best to opt for fish that are rich in omega3 fatty acids, found most abundantly in fatty fish like salmon, mackerel and albacore tuna. "But any fish is better than none," Mozaffarian noted.

Indeed, these fatty acids likely underlie the benefits of fish on stroke risk, study author Dr. Susanna Larsson of the Karolinska Institute in Stockholm told Reuters Health.

"These fatty acids may reduce the risk of stroke by reducing blood pressure and blood (fat) concentrations."

This is not the first study to suggest that people who eat more fish have a lower risk of stroke, and experts already recommend a fishy diet to reduce the risk of cardiovascular problems, Mozaffarian added. "This study supports current recommendations."

Earlier this year, for instance, a study showed that middle-aged and older men who eat fish every day are less likely than infrequent fish eaters to develop a suite of risk factors for heart disease, diabetes and stroke.

In the current study, published in the American Journal of Clinical Nutrition, Larsson and her colleagues looked at 34,670 women 49 to 83 years old. All were free of cardiovas-

causes.

Women who ate more than three servings of fish per week had a 16 percent lower risk of stroke than women who ate less than one serving

cular disease and cancer at the beginning of the study, in 1997.

During 10 years of follow-up, 1,680 of the women (4 percent) had a stroke.

Stroke caused by blockage of an artery that supplies blood to the brain -- also known as a "cerebral infarction" or "ischemic stroke" -- was the most common event, representing 78 percent of all strokes in the study.

Other types of strokes were due to bleeding in the brain, or unspecified

a week. "Not a small effect," Mozaffarian said in an e-mail, noting that it was roughly equivalent to the effect of statin drugs on stroke risk.

Furthermore, the researchers asked women about their diets only once, using a questionnaire, which might have caused errors that would underestimate the link between a fishy diet and stroke risk, he explained. "So, the true risk reduction may be larger."

Interestingly, women appeared to benefit most from eating lean fish,

Using your mobile for hours on end?

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xperts tell you the ill effects of using mobile phones for long periods How long can you go without your precious cell phone? If you're amongst those who break into a sweat at the very thought of being separated from their mobiles, remember that you could be doing yourself a lot of damage. While cell phones have become an essential part of are lives, prolonged use will result in more harm than good.

Dr Kaushal Malhan says that by operating a mobile phone repeatedly, we put a lot of stress on the thumb.

"This repetitive stress can eventually lead to a thickening of soft tissues and hence reduction of space in the front of the wrist joint. This space, also called the carpal tunnel, transmits an important nerve called the median nerve, whose function can be jeopardised," says Dr Malhan.

This results in pain, tingling and weakness in the hand. The symptoms are worse at night, disturbing sleep and during the day, your grip feels weak. Another problem due to repetitive stress and injury to the soft tissues is the trigger thumb, which occurs due to tightness around the tendons that move the thumb, leading to a lot of pain. Simple movements of the thumb can become difficult.

Neurologist Dr Girish Nair says that cell phones look poised to play

an ever-expanding role in our lives.

"While the health risks have been a source of concern to health care professionals and the public alike, a lot of the information available today is outdated and irrelevant to understanding the real risks posed by cell phone.

Millions of people have been using cell phones for years now and

the rate of brain cancer has not gone up in a manner suggesting any association. Cell phone emission of radiation is minuscule and incapable of damage even when applied directly to the brain for prolonged periods.

More over, the radiation emitted by cell phones is non ionising - it doesn't damage cells and their genetic material-DNA. However, there exists a great deal of confusion about the effects of cell phone use on neurological disorders, ranging from cancer to dementia," says Dr Nair.

"While a definite association between cell phone use and cancer has not been proven in short-term studies, it is a tad early to rejoice as long-term use has not been shown to be without risk. It would be prudent to follow some simple tips to minimise risks associated with cell phone use... n Use headphones or the speaker function so as to keep the antenna of the device away from your head and body. n Keep your conversations as short as possible. If you talk for hours continuously, stop doing that. n Avoid sleeping with your cell phone switched on at night next to you. If you can't switch it off, keep it away from you when you sleep. n Restrict the use of cell phones among children.

Dr Vinod Rambal says that a lot depends on the handset that you use when it comes to texting. "Newer technologies in handsets are friendlier with touchscreen functions. The better the handset, the lesser the pressure on the fingers. While no study proves that excess usage of cell phones increases the chance of brain tumours, it's advisable to use the handsfree option because you can control the volume better.

Youngsters today are more susceptible to a problem since they start using mobiles at an early age. The best thing to do is to minimise usage," says Dr Rambal..

when other research shows fatty fish is better for health. This finding may stem from the fact that most fatty fish, such as herring and salmon, is eaten salted in Sweden, Larsson explained. "A high intake of salt increases blood pressure and thus may increase the risk of stroke," she said in an e-mail. "So the protective effects of fatty acids in fatty fish may be attenuated because of the salt."

Indeed, when it comes to fish, not all have equal benefits, Mozaffarian noted - for instance, he said, research has not shown any cardiovascular benefits from eating fast food fish burgers or fish sticks.

In addition, women of childbearing age should avoid certain types of fish known to carry relatively high levels of pollutants, such as shark and swordfish, Mozaffarian cautioned. "This is a very, very short list of fish to avoid or minimize -- there are many, many other types of fish to consume," he said. "Women at risk of stroke are generally beyond their child-bearing years, and so for these women, all types of fish can be consumed."

Larsson and her team speculate that certain nutrients in fish, such as fatty acids and vitamin D, might explain its apparent benefits. The Swedish study cannot prove cause and effect for high fish consumption and lowered stroke risk, however. For instance, fish consumption could be a sign of a generally healthier lifestyle or some other mechanism at work.

Last December, Larsson and colleagues published data from the same group of women in the journal Stroke showing that those who eat a lot of red meat may also be putting themselves at increased risk of stroke.Reuters

Don't tank up if you're pregnant T

here is very little truth in the old wives tale on 'plump mums give birth to healthy babies'! If you are pregnant and gaining inches by the day, it could well be a cause for alarm. Obesity can lead to complications during pregnancy, from giving birth to a low weight baby to delivery failure. Lifestyle and immediate environment are key factors contributing to obesity in those prime months.

Doctors associate obesity with foetus problems, high blood pressure, birth of low weight or fat baby, growth retardation of the baby, and even delivery failure.

Says Dr. Veena Aggarwal, head R&D of VLCC, "Unhealthy lifestyle practices and behaviours are well accepted as contributing factors for obesity and associated diseases.

Nutrition is very important for the pregnant mother, they should know about diet requirements.

She stresses, "Chubby babies are healthy is a misconception, and overfeeding a Low Birth Weight Baby (LBW) baby to make them healthy affects their metabolic and cardiovascular health in later life."

If a recent study on obesity is anything to go by, 'urban Indians are at great risk of obesity and

associated medical conditions due to Low Birth Weight'. About 24% adults born with LBW as compared to 14.7% adults born with normal weight are susceptible to developing obesity with associated medical problems like insulin resistance, Type 2 Diabetes and cardiovascular problems.

Mother's pregnancy weight is of critical importance as it determines the baby's birth weight and whether or not it will pick up the obesity gene. When a fat woman gives birth to a fat baby, the baby invariably grows into an obese adult.

For a healthy pregnancy and

reducing the risk of having a LBW baby, a healthy and fit body is a 'must'. Mother's nutritional status determines embryonic and foetal growth. Optimal nutrition for the mother is the key to the baby's healthy growth. The least a wouldbe-mother can do is to have a healthy and balanced diet rich in vital nutrients.

Dr. Saguna Shukhla, Delhi-based gynaecologist, believes, "Hypertension and diabetes are always associated with obesity during pregnancy, and for this counselling is important during this stage. Women should be guided about lifestyle management, exercising and regular screening. During pregnancy women should have high nutritious foods which have high proteins, minerals and vitamins." She prescribes 2000 calories per day to every pregnant mother.

Outside of controlling her diet, mums-to-be need to pay attention to her physical fitness, which is very crucial to sail through the nine months. If required, consult a fitness coach for pregnancy-related exercises, and make sure you adapt the right posture.

Give up alcohol and tobacco, steer clear of caffeine...and you are good to go!

Family history of alcoholism raises obesiP

eople with a family history of alcoholism may be turning to high-calorie treats instead of booze to satisfy their addiction, researchers say, a change that could be fueling the obesity epidemic.

Because alcohol and bingeing on junk foods stimulate the same parts of the brain, it may be that people with a predisposition to alcoholism are replacing alcohol with junk foods, says the team from Washington University in St. Louis.

This is especially true for women, they report.

"Much of what we eat nowadays contains more calories than the food we ate in the 1970s and 1980s but it also contains the sorts of

calories -- particularly a combination of sugar, salt and fat -- that appeal to what are commonly called the reward centers in the brain," Dr. Richard Grucza, who worked on the study published this month in the Archives of General Psychiatry, said in a statement.

"Alcohol and drugs affect those same parts of the brain and our thinking was that because the same brain structures are being stimulated, overconsumption of those foods might be greater in people with a predisposition to addiction."

Grucza's team compared addiction and obesity trends from a national survey conducted in 1991 and 1992 and in 2001 and 2002.

Almost 80,000 people took part in the two surveys.

The team found that in 2001 and 2002, women with a family history of alcoholism were 49 percent more likely to be obese than those without a family history of alcoholism. The same was true of men to a lesser degree.

Grucza said the study suggests alcoholism and obesity are crossheritable, much like alcoholism and drug addiction are. He said some of this may be related to changes in the environment, such as increased consumption of junk foods.

The study is part of a body of growing evidence for a link between alcohol abuse and obesity, particularly for women.

The alcoholism-overeating link might help explain rising obesity in the United States, which has

doubled from 15 percent of the population in the late 1970s to 33 percent in 2004.

Drug firms are eyeing the alcohol-obesity link in hope of reaching the potentially huge US market for obesity drugs.

Earlier this month, Orexigen Therapeutics and Takeda Pharmaceutical won backing from a US advisory panel for the diet drug Contrave, which combines naltrexone, used to fight alcohol and drug addiction, and the antidepressant bupropion. The drug aims to target cravings, curb appetite and boost metabolism.

If approved by the US Food and Drug Administration, the drug would be the first new weight-loss pill in a decade.-Reuters

International

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Sunday, January 9, 2011

CHINA BRACES FOR HEADACHE IN RITUAL LENDING SURGE * CHINESE BANKS LIKELY TO RUSH OUT LOANS IN FIRST QUARTER * FRESH CREDIT SURGE COULD ADD TO INFLATIONARY PRESSURE * BEIJING TO STEP UP FIGHT AGAINST EXCESSIVE LENDING

C

hinese banks are set for their customary early-year lending blast and the ritual poses bigger risks than in the past, threatening to flood the economy with cash just as the government tightens policy to curb inflation.

In what has become a game of cat and mouse, regulators are trying to devise new ways to thwart the lending surge and banks are looking for new ways around them.

Several executives at Chinese lenders told Reuters that the incen-

tives to rush credit out the door at the start of the year are simply too strong. Those who are the fastest and most aggressive early on can secure a bigger slice of the overall pie at the expense of the competition.

"Everybody knows the lending quota will shrink this year and this will push banks to scramble for a bigger share at the very beginning of 2011," said an executive with a

big bank in Beijing. The official spoke on the condition of anonymity because he was not authorised to talk to the media.

As a centrepiece of its economic policy, China sets an annual new lending quota for the banking sector. Because inflation is running at its fastest in more than two years, there has been much speculation that the government will keep the target level with last year's 7.5 trillion yuan ($1.1 trillion) or even lower it.

The very prospect of a lower ceiling could produce the opposite of its intended effect.

"More new loans will be lent in the early months of this year than in the same period last year," said Li Shanshan, a banking analyst at Bocom International in Beijing.

She estimated that about 40 percent of new loans in 2011 would be issued in the first quarter, compared with about a third of last

year's total.

That could be playing with fire.

By pumping too much cash into the economy early on, banks risk derailing Beijing's plan to rein inflation with gradual measured tightening, raising inflation expectations and the spectre of much harsher tightening later this year.

"They will have to control loan growth. Otherwise, inflation will be out of control," said Ting Lu, an economist with Bank of AmericaMerrill Lynch in Hong Kong. He forecast that new lending could be capped at 7.0-7.5 trillion yuan this year.

NEW CONTROLS Regulators must not back down from trying to rein in banks, even if they are bound to search for new loopholes, such as off-balancesheet lending through trusts which thrived last year, analysts said. Any sign of yielding could open the credit floodgates and stoke higher inflation. Consumer prices rose 5.1 percent in the year to November, a 28-month high.

The central bank has already showed that it is willing to raise required reserves to a record 19 percent and use administrative "window" guidance to stay on top of lenders.

It will also deploy a range of new tools. Central bank governor Zhou Xiaochuan has said that select banks will be forced to lock up more of their deposit base via differentiated reserve requirements.

"The central bank will definitely single out aggressive banks for punitive reserve ratios and some may also be forced to purchase

central bank bills," said Du Zhengzheng, an economist at Bohai Securities in Tianjin.

Beijing might also ask heavy lenders to meet higher capital adequacy ratios and to set aside more provisions for bad loans, said Cai Rong, a banking analyst at China Everbright Securities.

Beijing actually scored a measure of success last year in avoiding big ups and downs in lending, keeping monthly new loans to about $600 billion from the second quarter on.

SAME PROBLEM But whatever steps the government takes, there is little it can do to block a first-quarter lending surge.

On the demand side, there is a pent-up need for credit because of the suppression of lending at the end of the year. On the supply side, banks scramble to book as many loans as they can at the start of the year, aware that it is only a matter of time before regulators clamp down on them.

"This has been a habit for the industry and it will be no exception this year, no matter how high inflation is," said a senior executive at a medium-sized bank in Beijing.

"You'll never know where the regulators' bottom line lies if you don't take some risks to test it," he added.

"It is just like naughty kids who do something wrong, and their

father comes out and scolds them.

But it's no use, you know they will keep doing that."

New loans extended in the first quarter have accounted for an average of 33 percent of the full-year total over the past decade, according to official data.

Du at Bohai Securities projected that new loans in the first quarter this year would be more or less in line with that.

But at least some think that the start-of-year lending surge will be milder than in the past.

"Banks may be less aggressive in front-loading loans for fear of a tough response from regulators," said Liu, the executive with a big bank in Beijing. -Reuters

Old Wall Street dogs trying new tricks rokerage giants like Merrill Lynch and Morgan Stanley face a slew of challenges after decades of dominance, not the least of which is a crop of wealth-management startups taking aim at Wall Street's ways.

Backing these new challengers are, it turns out, many of the same executives who once ran the biggest brokerages.

"Wall Street has a history of reinventing itself," said HighTower Advisors Chief Executive Officer Elliot Weissbluth, whose firm has acquired nearly 20 financial adviser teams since its 2008 launch. "The model is changing and there will be opportunities."

Seizing those opportunities are some surprising names.

Among HighTower's investors is Philip Purcell, former head of investment bank Morgan Stanley and a driving force behind brokerage giant Dean

Witter, Discover & Co. Purcell joined former Charles Schwab president David Pottruck, whose Red Eagle Ventures was an early investor in the Chicago firm.

Pottruck, also a director, says wealthy families are losing confidence in traditional brokerages.

Former PaineWebber CEO Donald Marron's Lightyear Capital meanwhile bought a trio of investment advisory businesses from ING Group about a decade after Marron sold PaineWebber to Swiss bank UBS. These businesses, now doing business as Cetera Financial, provide technology and other support to a network of 5,000 registered investment advisers.

Another PaineWebber boss, Joseph Grano, joined exMerrill Lynch chiefs David Komansky, Daniel Tully and John "Launny" Steffins in launching a high-service,

high-end bank and wealth manager in Greenwich, Connecticut, Fieldpoint Private Bank & Trust.

Most recently, Citigroup exchief financial officer Todd Thomson launched Dynasty Financial, a New York firm selling technology and other services to top-tier wealth advisers.

Dynasty investors include William Donaldson, who previously led the Securities and Exchange Commission, the New York Stock Exchange and investment bank Donaldson, Lufkin & Jenrette.

"If there is ever a hall of fame for wealth management, these guys are the first slate going in," Scott Witkin, whose Elevation Search recruits advisers, said of the group. "They have a great track record; their integrity is unimpeachable."

They also see a promising investment opportunity.

A BETTER MODEL

In the wake of the 2008 financial crisis, when investors lost trillions of dollars in wealth, Wall Street brokerages and their conflicts of interest came under fire.

The four largest U.S. private wealth managers -- Morgan Stanley, Bank of America, Wells Fargo and UBS -- lost thousands of brokers and billions of dollars in client assets in a little over two years.

Much of this business went to independent advisers, who do not charge commissions and have a fiduciary responsibility to their clients. New technology lets advisers leave their firms, open their own shop and still offer majorleague services.

The movement also was driven by brokers who can sell their practices to a consolidator and receive a stake in firms planning to go public down the road. Cetera, HighTower and Dynasty hope to tap this trend.

Cetera provides technology, research and other support for registered investment advisers managing about $70 billion in assets. The firm hopes to capture more business from some of the 79 million Baby Boomers now reaching retirement age and have gravitated to independent advisers.

"This is a business that is always changing, because what is changing is the needs of the client," said Marron.

Dynasty, which will sell support services to high-end independent advisers, hired a $6 billion U.S. Trust advisory team and said it was approached by many potential new partners.

"What advisers and clients are showing you with their feet, is that there is a different model they are increasingly interested in," Thomson said.

"That's not to say one group will go out of business, but there is clearly a model clients and advisers think is better for

them."

BIG 4 NOT GOING AWAY Wealthy clients, meanwhile, are demanding more than just the ability to place trades: they want sophisticated financial advice and products that some brokers cannot provide.

Fieldpoint's founders, unhappy with their own wealth managers, formed a new bank that can offer personalized service without all the baggage weighing on the big banks. In two years Fieldpoint has amassed $845 million in assets and deposits, and it intends to open a Manhattan branch this year.

"We thought 'Wouldn't it be smart to start a bank with a clean balance sheet and a group of guys we like and trust?'" Grano said. "Given all the activity in the past two years, there's a good argument to be made that there's a better way."

The Big 4 firms are hardly going away: they still

employ nearly 50,000 advisers and manage more than $5 trillion in client assets. These giants can offer credit, savings and a host of unique investment opportunities, such as Goldman Sachs' plan to create a fund to invest in Facebook.

The new firms are still a rounding error for the big firms and often highly specialized. The flood of breakaway advisers slowed down in 2010, taking some pressure off the big firms.

That said, there is enough money leaking from the old firms to sustain some meaningful growth for these new players. The Young Turks remain confident they are on the right side of changes accelerated by the 2008 crisis.

"You can't un-ring the bell.

You can't go back to the wideeyed trust that Main Street once had for Wall Street," Weissbluth said. -Reuters

Microsoft embrace boost for ARM, worry for Intel M

icrosoft's move to make its Windows software compatible with chips designed by ARM throws open computer markets previously dominated by Intel.

The move is seen as an overdue acknowledgement by Microsoft that computing is moving away from the desktop, dominated by Intel's chips, to mobile devices, where power-efficient ARM microprocessors have a clear lead.

Microsoft was overtaken last year as the most valuable tech firm worldwide by Apple, thanks to Apple's iPad hot on the heels of its iPhone that transformed the mobile Internet. Both devices are powered by ARM chips. Other tablet offerings also sidestep Intel.

Investec said the significance of a move by Microsoft away

from the 'Wintel' model that has dominated computing for a quarter of a century -Windows running on Intel's x86 microprocessor architecture -- was hard to overstate.

"It shows a determination on the part of Microsoft to compete seriously with Apple and Google Android-based devices in the tablet and portable device market," its analysts said.

ARM's Chief Executive Warren East said on Thursday that Microsoft's move marked a significant milestone for ARM and its chipmaker partners.

The announcement, made at the Consumer Electronics Show in Las Vegas, sent ARM's shares soaring as investors hoped it would drive further growth for the highly rated British chip designer.

Shares in the Cambridgebased firm rose as much as 13 percent, topping the FTSE leaderboard for the second consecutive day and reaching the highest level for nearly 10 years. They were 7.6 percent higher at 507 pence by 1333 GMT. ARM's chips, made by manufacturers such as Nvidia, Qualcomm and Texas Instruments, power nearly all the world's mobile phones and are embedded in electronic devices ranging from toys to air conditioners.

They also dominate the tablet sector. Companies such as RIM and Motorola, are unveiling tablets in Las Vegas, most of them running Google operating systems and powered by ARM-based processors.

ARM OVERPRICED?

ARM received another boost at the show when graphics chip designer Nvidia Corp said it would begin designing central processors for personal computers based on ARM architecture.

Charles Stanley analyst Tom Gidley-Kitchin said ARM had ambitions to be at the centre of every connected device, and a lot of investors wanted to participate in that. ""There is no doubt that in the long term ARM plus Google represents a major threat to Windows plus Intel," he said.

Microsoft did not set a timeframe for the new software but analysts believe it will coincide with the launch of Windows 8 in 24-36 months time.

The news was welcomed by investors who have piled into

the stock since the U.S. company signed a license to use ARM's technology in July.

ARM now trades on a lofty times 47 times next year's earnings, far above the 11 times rating of much-bigger Intel.

While sell-side analysts are universal in their admiration for ARM, some say it is now overpriced.

Some 13 analysts have a "sell" or "strong sell" on the firm, according to Thomson Reuters Starmine, against six on "buy" or "strong buy", and eight on "hold". They have an average price target of 314.5 pence.

Gidley-Kitchin said investors had to "make some pretty heroic assumptions" to support the shares at the current price, and he has a "sell" rating on the stock.

Sales of tablets are expected to increase sevenfold to more than 150 million units a year by 2013, according to research firm Gartner, but that would still represents a small part of ARM's overall business. The chip designers partners shipped 1.5 billion chips in the third quarter alone.

Analyst Paul Morland at Peel Hunt also said the shares were overvalued. "This confirmation is a major boost for ARM in its battle with Intel but unlikely to impact numbers until late in 2012," he said.

"Shares trade on 47 times 2011 earnings which we think is too much given the risk of a quarterly miss at some stage and a lack of upgrades."

UBS, however, which is neutral on the shares, said the development was very positive for ARM in the long term.

It said if the ARM were to gain 50 percent of the PC system-on-chip market in the longer term -- say five years - it could be generate about $100 million of annual revenue and add 20 pence of value a share.

And an even larger opportunity could come in servers.

ARM's partners are working on chips, although East has said an ARM-powered server is about five years away.

"ARM taking over the PC market is probably less likely, certainly for a long time," Gidley-Kitchin said.

"But the server market is Intel's second market and it's hugely profitable ... ARMbased servers are a few years away but if you are looking for valuation looking at cash receipts a long way out is par for the course." -Reuters

7

Sunday, January 9, 2011

he is an ardent supporter of the PPP. Analysts say Khosa, a lawyer by profession, will try to avoid antagonising the Sharif brothers and their Pakistan Muslim League-Nawaz (PML-N) to tamp down disputes that have paralysed the federal government. Khosa's likely appointment comes just two days before an ultimatum given by Nawaz Sharif to Zardari's government on Tuesday to accept a list of his demands or face expulsion of PPP members from the Punjab provincial government. The government received a major reprieve on Friday when the MQM, the second biggest coalition partner, which had bolted to the opposition, rejoined the government. lymphoma. Both companies Though the political crisis triggered by the MQM's defection has been defused to a large expect to file for marketing extent, political stability in Punjab is vital to ensure the smooth running of the PPP-led govapplication of Brentuximab in ernment at the centre. -Agencies WASHINGTON: Bristolthe first quarter to treat patients Continued from page 1 No #8 with either Hodgkin's lym- Myers Squibb Co's growth phoma or anaplastic large cell should beat that of pharmaceuti"I have no intention to quit office of SCBA president. No one has asked me to become Governor lymphoma who have stopped cal rivals after 2015 as new Punjab, or have I any such intention. I have no relevance with the politics. Office of SC BA presiresponding to other therapies. drugs revive its earnings, the dent is greater than office of governor. Any thing like becoming governor is not in my mind", she The company also has a part- drugmaker's chief executive said said this while talking to journalists after her meeting with President Asif Ali Zardari in Bilawal House along with a delegation of SCBA here Saturday. nership with Astellas Pharma on Saturday.

Saturday's meeting with president focused on problems facing the legal fraternity, she told. on the antibody-drug conjugate Lamberto Andreotti, speaking Supreme Court (SC) has no bar of its own in Islamabad and lawyers have to face difficulties in this ASG-5ME, which is currently in early-stage studies as a treat- at a Goldman Sachs Healthcare regard, she held. A plot has been allotted to us in Islamabad and we will pay its cost, she disclosed.

"We have asked government allocation be made in budget in connection with grant for bars so that ment for pancreatic and prostate conference, said Bristol-Myers cancer. It also counts Roche will have "great" fundamentals lawyers don't feel need to ask for grant. Overall grant of Rs 100 million has been provided to us by Holding AG and after 2015, though the loss of law ministry and government", she underlined.

Democratic governments are with lawyers and bar but lawyers are not with any government and GlaxoSmithKline among its U.S. patent protection on its $6 partners. Shares of Seattle billion-a-year Plavix blood clot they are with democracy only, she remarked. It makes no difference to us who is ruling today and who will rule tomorrow, she underscored.

Genetics were up 3 percent at preventer will hurt beforehand.

Politics is domain of politicians, she said adding every member of bar will however stand up for $16 in early trade Thursday on The New York drugmaker's the protection of democracy if it faces any threat any time. "Working relationship between bar and Nasdaq. Pfizer shares were up 2 cents at $18.13 on the New growth after 2015 should be benches are very good but it did not mean we are satisfied with all the decisions of bench. We have our reservations on the appointment of new judges too", she held.-Agenies "better than anybody else can York Stock Exchange. -Reuters

Seattle Genetics, Pfizer in $208mn antibody tech deal BANGALORE: Seattle Genetics said it would receive $208 million from Pfizer Inc for giving the world's biggest drugmaker the rights to utilize its antibody technology to treat a single cancer target.

Seattle Genetics, which has signed ten such deals so far, said it would receive $8 million upfront and over $200 million in milestone payments.

Its new partner Pfizer will be responsible for research, product development, manufacturing and commercialization of products, Seattle said in a statement. Pfizer will supply material, annual maintenance fees and research support payments for assistance provided by the biotechnology firm, it said.

The deal involves development

of antibodies to a single cancer target using Seattle Genetics' antibody-drug conjugate (ADC) technology. Seattle Genetics' technology consists of monoclonal antibodies, auristatins, which deliver potent anti-cancer agents to affected cells. It currently has in testing potential treatments for non-Hodgkin lymphoma, renal cell carcinoma and certain autoimmune diseases in early-stage studies. The company is also conducting a combination study for the treatment of non-Hodgkin lymphoma and multiple myeloma. The company had signed a similar deal with Japan's Takeda Pharmaceutical Co on the compound brentuximab as a potential treatment for Hodgkin's

Spectrum Pharma to make biosimilar of Roche's rituximab TOKYO: Spectrum Pharmaceuticals joined the race to develop copy-cat versions of biotech drugs by signing a deal to develop a biosimilar version of Roche's blockbuster antibody drug rituximab.

Spectrum's deal with drugmaker Viropro Inc, for which financial details were not revealed, comes after Teva Pharmaceutical Industries launched efforts in May to develop a biosimilar of rituximab.

Rituximab, which is sold as Rituxan, is used to treat nonHodgkin's lymphoma -- a type of cancer -- and rheumatoid arthritis.

"It is a new direction for Spectrum... getting into the biosimilar field could be very

lucrative for them," McNicoll, Lewis & Vlak analyst George Zavoico said.

Biosimilars -- generic copies of biotech drugs used to treat complex diseases like cancer -- present companies with attractive revenue building opportunity, while global pharmaceutical players are faced with impending patent cliffs.

Roche's rituximab loses patent protection in 2012. Spectrum said the drug saw sales of $5.6 billion in 2009.

Biosimilars can cost $100 million to develop, as against $5-$10 million for a conventional generic chemical drug, but enjoy far higher margins.

"I don't think they need to capture a significant portion of the

$5.6 billion rituximab market for them to get a substantial return on their investment," Zavoico said.

Creating a biosimilar was a complex process and it was good to start early, Roth Capital Partners analyst Joe Pantginis said.

McNicoll's Zavoico said it was likely other companies will start, or probably already have begun, biosimilar development.

Irvine, California-based Spectrum's shares, which have risen 27 percent since December when the company reported positive data from a mid-stage trial of its nonHodgkin's lymphoma injection, remained flat at $6.86 Wednesday on Nasdaq. -Reuters

Bristol-Myers should beat rivals after 2015

deliver," he told analysts at the conference.

US sales of Plavix, sold in partnership with French drugmaker Sanofi-Aventis are expected to plunge after the pill faces competition from cheaper U.S. generics as soon as November.

A number of company drugs in late-stage testing, including newer blood clot preventer apixaban and a melanoma treatment called ipilimumab, should help revive company sales and earnings, Andreotti said.

Andreotti, who became CEO in May after heading BristolMyers' pharmaceuticals business, said he is confident that the company will post "good" results in 2011 despite an expected average 5 to 6 percent price decrease on its medicines in Europe. -Reuters

No #9

No #10 No #1

Continued from page 8

detailed description of the involvement of Sangh activists and self-styled spiritual leaders in several terror attacks across India during the past three years in his confessional statement given to a special CBI court in New Delhi. -Online

No #2

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with it are not complying with the requirement. It had also sent a letter to all producers of food items to apply for registration with it failing which they would be facing action by the Authority.

They are required to ensure that the packing of their products mentions net weight of the product, details of the ingredients, nutrition value of each item, and manufacturing and expiry dates.

The Authority would also send them a letter in this regard shortly. Junaid said that we are working to consumers' satisfaction and to prevent substandard and un-registered products from the markets and to advise manufacturers to get license within 15 days and registered with PSQCA.-Agencies

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dam would have the capacity to store enough water to irrigate 191,000 acres of farmland. He said the United States would also provide $26 million to complete the Satpara multipurpose dam project, located in Skardu in Gilgit-Baltistan. The dam would provide 17.7 megawatts of power to nearly 30,000 households and help end load-shedding in Skardu.

He said its water storage capacity would irrigate over 15,000 acres of land and provide 3.1 million gallons per day of potable drinking water after completion of the dam.

He added annual agricultural output was expected to increase more than four-fold, generating about $6 million in additional economic benefit to the community each year.

He said the two projects would provide energy solutions and improve the quality of life for people in Fata, Tank, Dera Ismail Khan and Gilgit-Baltistan. -Online

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The injured were taken to hospital where they are said to be in stable condition. -Online

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The ambassador said that the United States made demands to Pakistan with respect and dignity, adding that statement of Hillary Clinton about POL prices was misquoted. He dispelled the impression that US was mounting pressure on Pakistan for launching military operation in North Waziristan.-Agencies

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policy "adjustments." Several administration officials said that the classified review identified areas where stronger effort was needed rather than specific new programs.

The review resolved to "look hard" at what more could be done to improve economic stability, particularly on tax policy and Pakistan's relations with international financial institutions.

It directed administration and Pentagon officials to "make sure that our sizeable military assistance programs are properly tailored to what the Pakistanis need, and are targeted on units that will generate the most benefit" for US objectives, said one senior administration official who participated in the review and was authorized to discuss it on condition of anonymity.

Beginning with Biden's visit, the time may be ripe for a frank exchange of views and priorities between the two sides, another administration official said.

The Pakistanis "understand that Afghanistan-Pakistan has become the single most important foreign policy issue to the United States, and their cachet has gone up." But they also realise that they may have reached the point of maximum leverage, this official said, "and things about their region are going to change one way or the other" in the near future, as Congress and the American public grow increasingly disillusioned with the war and a timeline for military withdrawal is set.

"Something is going to give," he said. "There is going to be an end-game scenario and they're trying to guess where

we're heading." On intelligence, the administration plans to address Pakistan's complaints that the Americans have not established enough outposts on the Afghan side of the border to stop insurgent infiltration, while pressing the Pakistanis to allow US and Afghan officials to staff border coordination centers inside Pakistan itself.

The intelligence coordination is part of an effort to build political, trade and security links between Pakistan and Afghanistan as a way of assuaging Pakistan's fears that India, its traditional adversary, is building its own influence in Afghanistan. "We think there's a lot of room for improvement on that front," the senior official said. The administration also plans "redouble our efforts to look for political approaches" to ending the war, including recognition that Pakistan "must play an important role" if not a dominant one, in reconciliation talks with the Taliban, he said.

An intelligence estimate prepared for the review concluded that the war in Afghanistan could not be won unless the insurgent sanctuaries were wiped out, and that there was no real indication Pakistan planned to undertake the effort.

But the White House concluded that while Taliban safe havens were "a factor," they were "not the only thing that stands between us and success in Afghanistan," the senior official said.

"We understand the general view a lot of people espouse" in calling for direct US ground attacks, he said of the intelligence estimate. But while the administration's goal is still a Pakistani offensive, the review questioned whether "classic clear, hold and build" operations were the only way to deny the insurgents free access to the borderlands, and asked whether "a range of political, military, counterterrorism and intelligence operations" could achieve the same result. That view represents a significant shift in administration thinking, perhaps making a virtue of necessity given Pakistani refusal thus far to launch the kind of full-scale ground offensive the United States has sought in North Waziristan.

"The challenge is that when you talk about safe havens in Pakistan, you imagine some traditional military clearing operation that then settles the issue," the official said. While the Pakistani military has cleared insurgents from most of the tribal areas, it remains heavily deployed in those areas, where little building has taken place. US military commanders have pushed numerous times over the past 18 months for more latitude to allow Special Operations troops to carry out missions across the Pakistan border, officials said. The senior administration official, who called the proposals "ideas, not even operational concepts much less plans," said they have were rejected by the White House in the most recent review, as they have repeatedly been in the past, as likely to cause more harm than good.

"We've got to increasingly try to look at this through their lens," the official said of Pakistan, "not because we accept it wholesale, but because their actions are going to continue to be driven by their perspective." -Agencies

No #7

Continued from page 1

If appointed as expected, Khosa will succeed Salman Taseer, the outspoken governor of the central province of Punjab, who was gunned down by one of his bodyguards in Islamabad on Tuesday.

Taseer's murder came as Zardari's coalition was struggling to avoid collapse following the defection of the Muttahida Qaumi Movement (MQM), one of its main allies, to the opposition.

The choice of who will replace Taseer is crucial. Punjab is the most populated province in Pakistan and its political nerve centre.

Choosing Khosa could mean the Pakistan People's Party (PPP) is seeking to cool temperatures with Nawaz Sharif.

Taseer was fiery and often clashed publicly with Nawaz and his brother, Punjab Chief Minister Shahbaz Sharif. Khosa, on the other hand, is soft-spoken and non-confrontational. But

Continued from page 1

transmission losses. The President also directed that the proposal on reactivating abandoned well and captive power plants be finalized within six weeks, the Spokesperson said.

The President also was given briefings on developmental projects and also held meetings.

Spokesperson to the President Farhatullah Babar said that a delegation of the Supreme Court Bar Association led by its President Asma Jahangir today called on President Asif Ali Zardari in the Bilawal House Karachi and discussed with him issues relating to the Bar. The President assured the SCBA delegation that he will forward the issues raised by them to the government for favorable consideration. Federal law Minister Babar Awan was also present in the meeting. Later the President was given a briefing on the working of newly set up Sind Bank and its operations given by its President and Chief Executive Officer.

The briefing was also attended by Sindh Chief Minister Syed Qaim ali Shah, Provincial Finance Minister Murad Ali Shah and senior officers of the federal and provincial governments.

The briefing was informed that the Sindh Bank would operate on similar lines as the Bank of Punjab and the Bank of Khyber in the provinces of Punjab and Khyber-Pakhtunkhwa respectively.

These Banks were mandated to finance clientele in these respective provinces particularly relating to small and medium size entrepreneurs. Farhatullah Babar said that the President advised the Bank management to consider allocating 40 per cent of jobs to women in the Sindh Bank.

He said that the first branch of the Sindh Bank with head office in Karachi was opened in Naudero by the President last month. The Governor State Bank of Pakistan also called on the President today.

Meanwhile, President Zardari spent a busy day on Saturday during which he was briefed on various developmental projects and also held meetings. Farhatullah Babar said that a delegation of the Supreme Court Bar Association led by its President Asma Jehangir also called on President Asif Ali Zardari in the Bilawal House Karachi and discussed with him issues relating to the Bar. The President assured the SCBA delegation that he would forward the issues raised by them to the government for favourable consideration. Federal Law Minister Babar Awan was also present in the meeting. In another presentation, the President was given briefing on the energy requirements for industrial estates in the Sindh province.

The briefing was attended by Sindh Chief Minister Syed Qaim Ali Shah, Federal Water and Power Minister Raja Pervez Ashraf, Law Minister Babar Awan, provincial ministers, federal and provincial government officials. -Agencies

Continued from page 1

It should be mentioned here that District and Sessions Court Judge Dawood Nasar on Thursday reserved judgment on Bugti's bail application, along with those of 26 of his guards, after hearing arguments of the defense lawyer here. The bail application was filed by Shahzain Bugti's lawyer, W Nath Kohli. Also, the provincial government had earlier filed an application in Balochistan High Court against shifting the case from an anti-terrorism court to a civil court.

It is important to note here that security forces arrested Mr. Bugti along with 26 of his security guards and recovered a huge quantity of illegal arms and ammunition when the JWP leader was coming to Quetta from the border town of Chaman a couple of weeks ago. -Online

No #11

Continued from page 1

According to the FBS, during the week, hike in prices of 30 items were registered.

Prices of onions and potatoes among six items reportedly decreased during the said period while rates of powder milk and tea among 17 items remained constant. -Agencies

No #12

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Pakistan has been insisting on a roadmap for future engagements on issues like Kashmir, the military stand-off on Siachen glacier and differences on sharing of river waters.

India has indicated it favours a phased approach, with terrorism being among the top priorities.

Pakistan will decide on accepting India's standing invitation for Foreign Minister Shah Mehmood Qureshi to visit New Delhi after assessing the outcome of the talks between the Foreign Secretaries in Thimphu on the margins of the Saarc meet.

Foreign Minister Qureshi, who was invited to New Delhi by his Indian counterpart S M Krishna in July last year, has said he will go ahead with the visit only if it results in "substantial, meaningful and result-oriented talks."

The upcoming meeting of the two Foreign Secretaries will be the first one since September last year, when they met in New York on the margins of the UN General Assembly session but were unable to make any headway in their talks.

Pakistan has been insisting on a roadmap for future engagements on issues like Kashmir, the military stand-off on Siachen glacier and differences on sharing of river waters.

India has indicated it favours a phased approach, with terrorism being among the top priorities.

External Affairs Minister Krishna yesterday renewed his invitation for Qureshi to visit New Delhi.

The two Foreign Ministers last met in Islamabad in July last year but their talks ended inconclusively. -Agencies

No #13

Continued from page 1

strategic partnership, expand economic ties and promote people-to-people contacts.

Speaking at a function held here Saturday in the honour of visiting Chinese youth delegation, he said youth are analysts as well as leaders in this process.

Prime Minister said during visit of the Chinese Premier to Pakistan, the two countries had agreed to take the relations to new heights especially in trade, economic relations and people to people contacts. The two countries intend to double their trade from the current seven to 17 billion dollars in the shortest possible time, he said. Pakistan and China have identified 36 projects for the next Pakistan-China five year development programme which includes projects in education, health, energy, information, communication technology, transport, agriculture and water conservancy.

Gilani said this year has been designated as Pakistan-China friendship year and youth would be focus of the activities. PM Gilani said a number of programmes had been planned including increased contacts between universities, think tanks, mass media, film and television.

Pakistan will send one hundred middle school students to China for understanding of the Chinese way of life, he said. There are about six thousand Pakistani students in China and the number is to increase to ten thousand. China has also offered five hundred scholarships for Pakistani students.-NNI

No #14

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coalition government as it was working earlier, then why did the party created such drama?

Nisar said the survival of MQM is in solving problems of people not in pleasing another political party.

Criticizing U-Turn of the MQM the opposition leader said after recent u-turn it is obvious, what kind of revolution the party wants to bring in the country.

He also flayed Pakistan People's Party (PPP) government over not concentrating on real problems of the people. -Agencies

No #15

Continued from page 1

There's a leadership vacuum, and no political party has the wherewithal to meet this challenge.

What I've done really is to present to the people of Pakistan with "here's another, an alternative."

[And] I have been tested also for nine years.

When asked why he wanted to re-enter Pakistan politics when he had himself once said that being in charge of Pakistan may well be "the hardest job in the world," Musharraf replied: "It's about offering another alternative to the people of Pakistan. At this moment, they are stuck between two alternatives: the ruling Peoples Party and PML-N, the party of former prime minister and Opposition leader Nawaz Sharif. If you look at both of them are dysfunctional."

He said he came into office on a very high pedestal; people wanted a change.

"Until 2007, I was very popular. And now with the situation that Pakistan is facing, my favorability graph has again gone up. Because Pakistanis now see what is happening.

The poor man is seeing what is happening. Essential items' prices have gone up about four to five times since I left office. Wheat flour, rice, and pulses, everything is now five times higher. People have realised what has hit them. And a lot of people are calling me back, [saying] they want me back to save Pakistan. If you see my Facebook [page], which I launched eight months back, I have a fan [base] of 350,000 now today", the former President said. -Online

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Samjhota Express Attack

Isb tells Delhi to punish culprits Pak says India already wasted four years

Producers told to display 'Quality' logo

ISLAMABAD: Pakistan Saturday fired a salvo at India demanding that New Delhi should not ''squander'' in bringing to justice the perpetrators of the bombing of the Samjhota Express train in light of a RSS leader's confession about the involvement of Sangh activists in the attack.

"It took almost four years for the Samjhota Express investigations to come to this pass. We can only hope that no further time will be squandered in bringing the criminals to justice," Foreign Office spokesman Abdul Basit told PTI in a text message.

Basit was responding to a question on Pakistan's reaction to Aseemanand's confession about the involvement of Sangh

KARACHI: The Director General of Pakistan Standards and Quality Control Authority (PSQCA), Muhammad Junaid Qureshi, has asked the producers and manufacturers to display the Authority's logo on their products by January 31, 2011.

Failing which the Authority will be constrained to take action under the rules, he said in a statement issued here.

Junaid further pointed out that the PSQCA had previously given them a three-month period for this purpose, which has already expired.

He maintained that it has been observed that even some of the companies registered See # 2 Page 7

ISLAMABAD: Senator Prof.

Khurshid Ahmed Saturday said that transfer of federal ministries to provinces, under 18th Amendment would be beneficial for centre as well as for the country.

According to 18th amendment Ministries would be transfer before the June 30, 2011, he said while talking to APP. He said that 10 to 14 ministries will be transferred to the provinces.

When contacted Chairman Implementation Commission of 18th amendment office, the sources confirmed that five

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing to the Chinese Youth delegation at PM House.-APP

Tarbela Dam extension

Wapda guesstimates 960MW more in 4yrs ISLAMABAD: Chairman of Water and Power Development Authority (WAPDA) Shakil Durrani has said that additional power of 960-MW will be generated from Tarbela under new extension plan.

The Wapda Chairman told APP that an estimated amount of US dollar 700 million would be spent on the project for which the World Bank was supporting the government of Pakistan.

He said, "Engineering consultants have reached Pakistan for the fourth Tarbela extension project which will be completed

Fazl sees MQM return temporary JEDDAH: JUI-F leader Maulana Fazlur Rehman has said that the return of MQM to treasury benches is a temporary injection.

Addressing to the workers of JUI-F at Jeddah airport, he said that return of MQM in coalition government is a temporary decision, as MQM will not sit on treasury benches in long terms.

He said the murder of Salman Taseer could be a backlash of any false statement so our leader should discus blasphemy law cautiously.

Answering to a question he said, there in no chance of return of JUI-F back to government, as government has offered five ministries to JUI-F, but there is difference between actions and words of PM Gilani and that's why JUI-F is not part of government. -Online

in four years". After the completion of project, 960-MW additional electricity would be generated from the reservoir, whose existing power generation capacity is 3400-MW. He said," development work is also underway on 969-MW Neelum-Jhelum project which will be completed in seven years". He said 10-km tunnel had been constructed at the project site.

He said the United States had signed two agreements with Pakistan to provide $66 million for the completion of Gomal Zam and Satpara Dam projects.

Shakil Durrani said these dams would provide over 35 megawatts power to nearly 55,000 households in South Waziristan and Skardu and would be helpful to meet the country's energy needs.

He added out of total amount, the United States would provide $40 million to help complete the Gomal Zam multipurpose dam in South Waziristan in Fata.

He said the project would provide 17.4 megawatts of electricity to 25,000 households, adding, the Gomal Zam See # 3 Page 7

activists in several terrorist attacks, including the 2007 bombing of the Samjhota Express that killed nearly 70 people, a majority of them Pakistanis.

"The reported confession by Aseemanand underlines the need for avoiding unhelpful knee-jerk reactions as was done in India (at the time of the attack)," Basit said.

"We look forward to hearing from India officially. The relations of 42 Pakistani victims of the Samjhota Express terrorist action are desperately awaiting their protracted trauma to come to an end," he added.

Pakistan has asked India several times in the past two years to apprise it of developments in the investigation into the

Samjhota Express bombing.

The issue was raised by Pakistani officials and leaders with Home Minister P Chidambaram and External Affairs Minister S M Krishna when they visited Islamabad last year.

Basit did not respond to a question on whether Pakistan would seek access to suspects arrested in India for the Samjhota Express bombing though sources in the government said a decision would be made on this issue after Islamabad receives information on the latest developments in the Indian investigation through official channels.

Jatin Chatterjee alias Aseemanand, 59, has given a See # 1 Page 7

Ministries-shift terms beneficial ministries Zakat and Usher, Population, local Government and Youth affairs shifted to province and other four ministries Culture and Tourism, Interior Ministry some divisions, Education and Social welfare and Special education transfer work is under process.

I m p l e m e n t a t i o n Commission meeting will be held hopefully January 12, to finalize the issues related to transfer of ministries to the provinces under the chairmanship of Senator Main Raza Rabbani Advisor to the Prime Minister on Provincial

Coordination and other members who will attend the meeting comprised on Senator Ishaq Dar, Deputy Chairman Implementation Commission, Syed Naveed Qamar, Dr Mohammad Farooq Sattar, Senator Afrasyab Khattak, Senator Mir Hasil Khan Bizenjo, Muhammad Ismail Qureshi, Secretary Establishment Division, Abdul Rauf Chaudhry, Secretary Cabinet, Salman Siddiqui, Secretary Finance and Ahmad Mehmood Zahid, Secretary Inter Provincial Coordination. -APP

Chile recognises Palestine state SANTIAGO: Chile said on Saturday it had recognised a Palestinian state, joining an endorsement by Latin American peers the United States has called premature and Israel has warned is harmful to the Middle East peace process.

Brazil became the first of several South American countries in recent weeks to recognize a Palestine state along pre-1967 borders. Argentina, Uruguay, Bolivia and Ecuador have done the same and Mexico, Peru and Nicaragua are reported to be considering recognition.

"The Chilean government has adopted a resolution to recognize the state of Palestine as free, independent and sovereign," Chilean Foreign Minister Alfredo Moreno told reporters, saying he hoped the recognition would help

give fresh impetus to negotiations.

Palestinian President Mahmoud Abbas thanked Brazil last week for recognizing his nation's statehood with its first embassy in the Americas and said other countries were following suit.

Palestinian authorities are hoping for a diplomatic domino effect to back their claim for a state in all of the West Bank and Gaza Strip.

Israel disputes the Palestinian claim on all the West Bank and East Jerusalem, land it captured from Jordan in a 1967 war and has since extensively settled.

Direct peace talks revived by Washington in September after a year's suspension collapsed within weeks. A US drive to keep the process alive via third-party talks is in limbo.-Agencies

2 killed while planting bomb

NKorea proposes talks with South

KHYBER AGENCY: Two extremists were killed while planting a bomb in Khyber agency and the building of health center blew up with explosive material in Mohamed agency here on Saturday.

According to a private TV channel, two extremists were killed in district Bara the adjacent area of Khyber Agency when they were planting a bomb on roadside, the near by bridge also damaged due to blast.

Meanwhile extremists blew up the building of health department in Mian Essa the adjacent area of Mohmand agency, guard of the health center also got injured in the blast who has been shifted to near by hospital.

In another incident 3 Frontier Constabulary men were injured due to a land mine explosion in Mohmand Agency.

The FC men were on routine patrolling when a planted land mine exploded in Aman Ghandai area of Tehsil Bazai leaving them injured.

See # 4 Page 7

SEOUL: North Korea proposed on Saturday talks with the South in late January or early February and said it will reopen a liaison office in a jointly-run factory park with the South that it shut down last year.

Pyongyang's offer is the latest in a series of conciliatory gestures after tension between the rival Koreas rose to its highest level since the 1950-53 Korean War with an exchange of artillery fire and the sinking of a South navy ship last year.

"We formally propose an unconditional and early opening of the talks between the authorities of the north and the south," the North's Committee for the Peaceful Reunification of Korea, which is the agency charged with dealing with the South, said.

"The South Korean authorities should discard any unnecessary misgiving, open their hearts and positively respond to the north's proposal and measure," the agency said in comments carried by the North's official KCNA news agency.

It proposed the talks be held at Kaesong just over the militarised

border at the end of this month or in the first half of February.

The offer repeats the call made by the North on Jan. 1 and again last week for dialogue, which the South rejected as propaganda and lacking in seriousness and proper formality.

South Korea and the United States have said there will not be talks unless it was certain there would be progress on easing tension and ending the North's nuclear ambitions.

The North's agency also said it was reopening a liaison office at the Kaesong industrial park, which was built by a South Korean conglomerate for smaller firms to use cheap North Korean labour and real estate to make consumer goods.

The office had been shut down in May last year after the South slapped sanctions on the North blaming it for the sinking of one of its navy ships in March, killing 46 sailors. North Korea denies the charge.

The measure was out of "good faith for opening the channel of dialogue and improving the north-south relations," the North Korean committee said. -Agencies

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