International Karachi, Sunday, February 20, 2011, Rabi-ul-Awwal 16, Price Rs12 Pages 8
Kaira replaces Fauzia as PPP spokesperson Economic Indicators Forex Reserves (12-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 11) Imports (Jul 10-Jan 11) Trade Balance (Jul 10-Jan 11) Current A/C (Jul 10- Jan 11) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 11) Revenue (Jul 10 Jan 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Nov 10)
GDP Growth FY10E Per Capita Income FY10 Population
199.77 -0.98 3.83 2972
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85.51 86.19 15.42 114.99 10.92 1.027 22.69 66.48 13.13 87.84 23.17 136.65 85.49
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See on Page 8
Islamabad seeks help for greater EU mkt access
SCRA(U.S $ in million)
(U.S $ in million)
See on Page 8
Pak pushes UK for trade zones
Portfolio Investment
Total Portfolio Invest (12-Feb-2011)
See on Page 8
UK Cabinet Minister Sayeeda Warsi meets Zardari
$17.44bn 14.55% $13.23bn $22.55bn $(9.32)bn $(81)mn $6.12bn $1.18bn Rs 765bn $58.39bn Rs 5497.4bn $323.6mn -4.69% 4.10% $1,051 175.22mn
Yearly(Jul, 2010 up to 18-Feb-2011) Monthly(Feb, 2010 up to-18-Feb-2011) Daily (18-Feb-2011)
Pak calls for US balance in South Asia Sharif blames Zardaro for failure Musharraf arrest warrent reissued
ISLAMABAD: UK Cabinet Minister Baroness Sayeeda Warsi calls on President Asif Ali Zardari at President House.-Online
‘Sell-off of PSEs to add depth to local capital mkts’
PC publishes PSEs privatisation policy ISLAMABAD: In compliance to the decision of the Cabinet Committee on Privatisation (CCOP), the Privatisation Commission (PC) has issued the Policy Guidelines for privatisation of Public Sector Entities (PSEs) through Capital Market Transaction, which were approved by the CCOP in its meeting held on February 3, 2011. In terms of the Privatisation Commission Ordinance 2000, Privatisation includes a transaction by virtue of which any property, right, interest, concession or management thereof is transferred to any person from the Federal Government or any enterprise owned or controlled, wholly or
partially, directly or indirectly, by the Federal Government. The Privatisation Commission is, therefore, mandated to divest title, interests, rights, ownership and control in the SOEs by means of various modes of privatisation. Section 25 of the PC Ordinance stipulates that the Commission shall carry out privatisation, in accordance with the prescribed procedure, through any of the modes, including sale of assets and business; sale of shares through public auction or tender; public offering of shares through a stock exchange; management or employee buyouts by management or employees of a SOE, lease,
management or concession contracts; or any other method as may be prescribed. Pursuant to section 25(c) stated above, Privatisation Commission has been proactively pursuing a policy of supporting capital market development through the sequenced divestment of shares in state owned companies through stock exchanges in both domestic and international markets, taking into account stock market conditions and investor demand. In view of the foregoing the following policy outlines were approved by the Cabinet Committee on Privatisation See # 4 Page 7
Davis Case:
During Jun-Jan exports reach over $7.4bn
Qureshi voices concern on FO conduct
Textile exports up 26pc in 7M
ISLAMABAD: Former foreign minister Shah Mehmood Qureshi, seemingly surfacing yet another time to multiply already tainted government's problems, has again voiced grave concerns over Foreign Office's conduct in connection with declaration of Raymond Davis status as diplomat, media reported. Revealing to correspondents he said Foreign Office had briefed him in details over status of US double murder suspect, Raymond Davis, in Pakistan, Shah Mehmood Qureshi, ascertained that FO needed not more time for apprising court and making public the status of the accused. "Asking three more weeks from Lahore High Court (LHC) to declare status of Raymond Davis has posed a big question mark over conduct of See # 6 Page 7
ISLAMABAD: Despite challenges of energy shortage, the textile sector of the country has performed well during the first seven months of the current fiscal year as its exports surged by 25.88 per cent. Textile exports during JulyJanuary (2010-11) were recorded at over $7.44 billion against the exports of $5.917 billion during July-January (2009-10), according to data released by the Federal Bureau of Statistics here Saturday. The sectors that contributed to the positive growth in textile exports included cotton yarn, cotton cloth and raw cotton, exports of which increased by 32 per cent, 32.02 per cent and 5.13 per cent respectively. Other sectors that witnessed upward trend in exports included cotton (carded or combed),
exports of which increased by 59.96 per cent. Similarly the exports of yarn other than cotton yarn increased by 45.12 per cent, knitwear by 25.15, bed wear by 15.81 per cent, towels by 7.06 per cent, readymade garments by 33.02 per cent, art, silk and synthetic textile by 59.43 percent, made-up articles by 18.78 per cent while other textile materials witnessed 36.61 percent increase during the period. The only textile sector that witnessed negative growth was tents, canvas and tarpaulin, exports of which fell by 40.79 per cent, the FBS data revealed. During the month of January 2011, textile exports increased by 28.42 per cent as compared to the same moth of the last fiscal year. See # 5 Page 7
Clinton sees Pak ties in limbo; urges reforms NEW YORK: Amid an escalating diplomatic dispute, Secretary of State Hillary Rodham Clinton said Pakistan risks major instability at home and a hampered war effort in next-door Afghanistan if it doesn't implement reforms and stop fomenting anti-American sentiment. In a speech to The Asia Society, Clinton said Pakistani cooperation is critical to the success of the fight against Taliban and al Qaeda extremists in neighboring
Afghanistan. Although she did not specifically mention the diplomatic impasse over the fate of a jailed American in Pakistan, Clinton was unusually blunt in her criticism of anti-American rhetoric and sentiment. She cautioned against letting problems escalate into crises. The case has become a focal point for rampant suspicion about US motives and activities in Pakistan, and US insistence on a quick resolution has seemed to only harden
Pakistani resolve not to bend. "Distrust lingers on both sides," Clinton said. "We need to work together carefully to prevent misunderstandings and disagreements from derailing the progress we have made in the past two years." Relations with Pakistan have plummeted to their lowest point in recent years since the arrest of an American embassy employee in Lahore. The employee, Raymond Allen Davis, shot and killed See # 7 Page 7
ISLAMABAD: President Asif Ali Zardari has urged Britain to set up trading zones in Pakistan particularly in the conflict ridden areas and Islamabad should be provided enhanced and preferential trade access to the markets of European Union countries so that our economy could be put back on track. He expressed these views while talking to UK Cabinet Minister Baroness Sayeeda Warsi who called on President Asif Ali Zardari at Aiwan-eSadr on Saturday. She was accompanied with British High Commissioner Adam Thomson and other senior officials of the British High Commission. From Pakistan side, Secretary General M Salman Faruqui, MOS for Foreign Affairs Hina Rabbani Khar, Senator Syeda Sughra Imam, MNA Farahnaz Ispahani, Foreign Secretary Salman Bashir and spokesper-
ISLAMABAD: President Asif Ali Zardari will pay a visit to Japan from 21-23 February, 2011 at the invitation of His Excellency Naoto Kan, Prime Minister of Japan. This will be the President's second visit to Japan since assuming office. According to Foreign Office spokesman during his stay in Japan, the President will make a state call on His Majesty the Emperor of Japan. He will hold summit level talks with Prime Minister Naoto Kan. The President is also scheduled to meet with Japanese Cabinet members, Parliamentarians and leading Japanese businessmen. See # 1 Page 7 son to the President former strengthen their relationship Senator Farhatullah Babar also most notably in the economic sphere and other various areas attended the meeting. Pak-UK bilateral relations, for the benefit of the two counmutual cooperation, war against tries. He said that there was a need terror, regional situation and the role of Pak-origin citizens to further streamline the existabroad was discussed during the ing cooperation in cultural and educational development in meeting. Discussing Pak-UK relations, order to promote mutual underthe President reiterated the need standing and bringing the peofor the two countries to work ple of the two countries See # 2 Page 7 closely in order to further
India slaps Rs30 million fine on Rahat
Hubco, Kapco set to clear PSO dues
NEW DELHI: Pakistani singer Rahat Fateh Ali Khan has been charged under India Customs Act for carrying undeclared foreign currency. His manager Maroof also faces similar charges. The Directorate of Revenue Intelligence (DRI) will now confiscate the currency and the matter has been sent to Commissioner Customs (Airports) for adjudication. The Commissioner will go through the charges and determine the penalty and the quantum. Rahat and Mahroof can leave the country after paying the penalty of around 3 crore rupees as per media reports. The singer, along with his manager and owner of an event management company Chitresh Shrivastava, has faced several rounds of questioning by the DRI officials, when they were questioned for 11 hours in New Delhi. Rahat and two others were released by the officials last Monday but their passports had been withheld pending further investigation. Rahat, 37, who has crooned several Bollywood chartbusters, had flown from Karachi to New Delhi.Agencies
Plea filed to shift Davis to Shahi Qila LAHORE: Petition seeking shifting of Raymond Davis from Kot Lakhpat Jail to Shahi Qila has been filed in Lahore High Court (LHC) Saturday. As per media reports, the petitioner, Rana Ilamuddin Ghazi, a local advocate has taken plea in his petition that general public is facing difficulties due to detention of Raymond Davis in Kot Lakhpat jail, therefore, he should be shifted to Shahi Qila. He further prayed the court police had failed in conducting investigation of Raymond Davis therefore, the responsibility for transparent investigation be assigned to ISI in this case. -Online
President's Japan visit starts Monday
ISLAMABAD: The public sector company-Pakistan State Oil (PSO) has expressed optimism to have payment commitments on February 21 from power entities of Hubco and Kapco. "No payments have been received so far from Hubco and Kapco, we will find out on Monday about the payment commitments by these companies," the PSO official said. With overdraft touching final limit of Rs40 billion, the cashstarved PSO suspended fuel supplies to three power entities including Wapda, Hubco and Kapco on Feb 17 for nonpayment of dues in a bid to avoid impending default. On intervention of the government, the company restored supply to the Wapda soon after the decision while the remaining two are swiftly running short of fuel stocks. The source said the PSO had exhausted all its resources for financing future product supplies as it was not able to make
timely payments to its suppliers due to non-payment from the power companies. The source revealed the PSO was constrained to take this unfortunate step as the last payment was received on January 7 from these companies but onward, nothing of this kind took place. "This was not an abrupt decision, they (power companies) were very clear on our ultimatum, we had been giving memorandum to them, holding series of meetings but efforts made no headway", the source said. The PSO, he added, cater to the fuel and non fuel needs of approximately 2.8 million customers per day and these customers comprising the retail consumer, various industrial units, government, power projects, aviation and marine sectors of the country. "So, some positive response is needed, if we don't get these dues we will not be able to See # 3 Page 7
JC defers issue of ad hoc judges ISLAMABAD: Judicial Commission (JC) has deferred the appointment of two ad hoc judges Justice Khalil-ur Rehman Ramday and Justice Rehmat Hussain Jafri in Supreme Court however it extended the services of six additional judges of Sindh High Court for one year, media reported. The commission met in Islamabad to consider reappointments of the two judges as well as nine other judges of the Sindh High Court (SHC). The meeting was headed by Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry. The six additional judges of SHC which have been given extension included Justice Imam Bux Baloch, Justice Nisar Muhammad Sheikh, Justice Tasneem, Justice Hassan Azhar Rizvi, Justice Mohammad Ali Mazhar and Justice Salman Hamid. The judges who were denied
extension were Justice Abdul Hadi Khoso, Justice Zahid Hamid and Justice Zakir. The meeting dropped three additional judges of SHC. Earlier, on February 14, a latenight announcement by the Supreme Court had said that Chief Justice Iftikhar Mohammad Chaudhry, who presided over a full court meeting on that day, had proposed to request Justice Ramday and Justice Jafri to rejoin the bench as ad hoc judges, which was unanimously agreed. Approved names would be sent to parliamentary committee for final approval. Justice Ramday's one-year extension expired on February 16. Moreover, Justice Jafri had reached superannuation on November 22 last year. The court's February 14 notification had stated that the two judges had accepted the proposal in "wider institutional interest". -Agencies
2 Sunday, February 20, 2011
Rehman pleads for investment
Crisis Management Cell inaugurated at KCCI Staff Reporter KARACHI: The Crisis Management Cell jointly established by Ministry of Interior and Karachi Chamber of Commerce and Industry recently at the premises of KCCI was inaugurated on Saturday at KCCI by A. Rehman Malik, Federal Minister of Interior. The ceremony was attended by Dr Farooq Sattar, MNA - MQM, Pir Mazhar ul Haq, Provincial Minister of Education, Fayyaz Laghari, CCPO Sindh and Acting IG Police, Siraj Kassam Teli, Chairman, Businessmen Group & former President, Haroon Farooki, Vice Chairman Businessmen Group & former President, Muhammad Saeed Shafiq, Sitting President, Junaid Esmail Makda, Vice President, KCCI Managing Committee members and representatives of business
community. In the opening remarks, President KCCI said that we appreciate Rehman Malik on his attention and focus towards addressing the law and order situation confronted to business community of Karachi. He said, the establishment of National Crisis Management Cell (NCMC) is the landmark achievement for addressing the law and order situation of the city. Saeed Shafiq briefed that after the opening of National Crisis Management Cell the complaints had been reduced to an extent. On the functions of the cell, President informed that NCMC would tackle the cases of kidnapping, extortions and ransom from business and industrial community. Any businessman becoming the victim of such crimes could contact at (Tel: 99218016) for lodging complaint.
President elaborated that it is the dilemma in this country that only 50 percent criminals are caught of which only 20 percent are finally imprisoned and of them only few are actually punished. Siraj Kassam Teli, Chairman, Businessmen Group (BMG) & former President appreciated the efforts of present Government and all the ruling parties of addressing the problem of law and order. Siraj added that anything concerned with Karachi and the business community of Karachi is related with KCCI. He congratulated MQM and PPP on the opening of NCMC and added that it also goes in favour of Government. Karachi is the mini-Pakistan and it is the nerve centre of the country, in fact with its outcome and contribution, Karachi is mini-Pakistan and the initiatives like formation of
NCMC would provide a favourable business climate and help resolving crime issues confronted by business and industrial community. Dr Farooq Sattar, MNA said this is the era of political economy. Today economy whips and dictates politics. Gone are the days when politics rule the show. Today is the era of Charter of Economy in addition with Charter of Democracy. He shared the vision of MQM that include clear policies for economic plenty. He added that RGST is not the end, there is plenty of room for discussion and several things can be done in this regard. Tax should be imposed on feudal. Subsidies should be brought into discussion.Rs. 800 billion worth resources to be mobilized. Community Police to be launched in future at towns, districts and at all levels.
SITE’s concern over raise in power tariff KARACHI: Asad Nisar Barkhurdaria, Senior Vice Chairman, S.I.T.E. Association of Industry has expressed serious concern over power tariff raise in the head of fuel adjustment charges by National Electric Power Regulatory Authority (NEPRA). He said, 96 paisa per unit increase in KESC tariff in the head of fuel adjustment charges as announced by NEPRA is detrimental for the industries which survival is already at stake due to continuous increase in power tariff by the government on one pretext or the other. He said that industry is finding it difficult to absorb present rate of power tariff, and added that how it can absorb any further increase in it. Taking a strong exception to the new tariff of KESC applicable from next month, he said that industries is already suffering and now with this increase in tariff, industries have reached to the edge of closure and are more likely to be shutdown. The new tariff rates, allowed by NEPRA, have come at a time when all economic indicators of the country are in the negative. The industries are struggling for survival; the exporters are trying to make the ends meet to face new challenges and competitions through cost-cutting measures. In the backdrop of such a scenario NEPRA should have insisted that KESC must improve its efficiency and cut down its distribution and line losses. -NNI
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah offering Dua at the inaugural ceremony of first branch of Sindh Bank. -APP
‘Agri-sector be brought into tax net in next budget’ Staff Reporter KARACHI: The President, Pak-India Chambers of Commerce and Industry and leader of the business community, S M Muneer has warned that sans strong economy the sovereignty of the country could be jeopardized. Addressing a dinner reception hosted by former Chairman, Travel Agents Association of Pakistan (TAAP), Yahiya Polani in his honour Muneer said that only strong economy can give guarantee the sover-
eignty of the country and the government should wake up and hold talks with the stakeholders to resolve various issues including RGST which are haunting the business community and the country's economy. "Government should sit together with us and we will suggest the ways and means to bring the economy from the red", Muneer said. It's height of the indifference on the part of the Finance Minister who did not bother to have a followup meeting with the stakeholders on the issue of
RGST as he committed at the FPCCI's platform to hold further meeting with the business community's representatives but he never came back to resolve the issues on the pretext that he is so preoccupied. "What kind of business he is involved in that he does not have the time to the most important issues of the country's economy", Muneer asked. He once again made it clear that RGST is not acceptable to the trade and industry unless and until the government removes irritants.
KARACHI: Yahiya Polani giving away Sindh's traditional gift - Ajrak to President, Pak-India Chambers of Commerce and Industry and leader of the business community, S M Muneer and PBIF President, Mian Zahid Husain at a dinner he hosted in honour of S M Muneer. -Staff Photo
TV PROGRAMMES SUNDAY Time Programmes 7:00 8:00 9:05 9:30 10:10 11:10 12:00 13:10 14:10 15:00 16:00 17:00 18:00 19:30 20:05 21:00 22:03 23:05
News News I Samaa (Rpt) Taxi News (Rpt) The Reema Show (Rpt) Awam Ki Awaz (Rpt) News Faisla Aap Ka (Rpt) Tafteesh (Rpt) News News News News i Samaa The Reema Show News Faisla Aap Ka Crime Week
Seminar on media, freedom of expression ISLAMABAD: A two-day seminar on, "Media, Extremism & Freedom of Expression" jointly organized by the Oslo University, Norway and University of Indonesia (UI) held in Jakarta called upon media to avoid giving news coverage to hardliner extremists. Top media personalities from Indonesia, Pakistan, Norway and Bangladesh attended the seminar. Known TV anchors and journalists including Hamid Mir, Salim Safi, Sajjad Meer, Qatrina
Hussain and Tanveer Shahzad represented Pakistan, said a press release received here on Saturday. There was also debate held, whether there should be dialogue between the extremists and those adopting a moderate view on various issues. The participants focused on the issue of media reporting about events having serious religious connotations as well as acts of militancy and put forth proposals as to how such reporting could be
improved. Ambassador of Norway in Jakarta, Eivind S. Home inaugurated the seminar. Some of the participants commented that media had an obligation to cover the viewpoint of all segments of society and viewers, readers, the general public had the ability to discern the truth on their own. A special panel discussion was held later on the recent developments in Egypt and the difficulties local and foreign media faced in bringing the unfolding events to people around the globe. -APP
KARACHI: Federal Minister for Interior Senator A Rehman Malik speaks during the inauguration ceremony of the sub office of National Crisis Management Cell at Karachi Chamber of Commerce & Industry. -Online
Malik calls on CM Sindh KARACHI: Federal Interior Minister Rehman Malik called on Chief Minister Sindh Syed Qaim Ali Shah at CM house on Saturday. He discussed matters of mutual interest, particularly the law and order issues with Chief Minister Sindh. Rehman Malik also offered fateha with Syed Qaim Ali Shah on demise of his sister and condoled with him. He appreciated the efforts made by Chief Minister Sindh Syed Qaim Ali Shah and Home Minister Sindh Dr. Zulfiquar Mirza,for maintenance of law and order during days of Eid-eMiladul Nabi (PBUH) particularly in Karachi.-Online
Sindh Govt to provide land for wind power plant
KARACHI: Chief Minister Sindh Syed Qaim Ali Shah has said that Sindh Government will provide land for proposed 150 megawatt wind power plant in Thatta district. He expressed these views while presiding a meeting regarding installation / establishment of wind power project held Saturday at Chief Minister House. The meeting was attended among others by Sindh Minister for Environment and Alternate Energy Shaikh Muhammad Afzal, Advisor to C.M Sindh for Planning & Development, Qaisar Bengali, Advisor to C.M Sindh for Investments, Zubair Motiwala, Senior Energy Planning Advisor, office of Energy Chris TFD Report Hauson, Programme KARACHI: Federal Management Specialists, Minister for Labour and Manpower, Syed Khursheed Ahmed Shah, inaugurated a water supply scheme of 10" diameter here at Labour Colony, SITE, costing Rs 120 million. Staff Correspondent On this occasion, he announced the grant of Rs 20 LAHORE: Former million for drainage and Senior Vice President of maintenance at the Labour the Lahore Chamber of Colony for improving the Commerce & Industry sewerage system which needs and former Chairman of immediate maintenance. Poultry He also announced to waive Pakistan outstanding payment of lease Association Abdul Basit dues for the residents of has urged the governLabour Colony, SITE, which ment to review its politowards the was built in 1976 during the cies government of Shaheed Agriculture sector which Zulfiqar Ali Bhutto. Syed has the capacity to wear Khursheed Ahmed Shah elab- off the impact of ongoing orated that 500,000 gallons economic meltdown. In a press statement water will be supplied instead of existing supply of 100,000 issued here Saturday, Abdul Basit said that gallons to the area which measures five kms from potential of Pakistan's Makro to Labour Colony and agriculture sector had not this project will be completed been fully exploited due in three months time. to a number of reasons
Water supply scheme inaugurated
Saeed Anwar, Secretary to Chief Minister Sindh, Ahmed Bux Narejo, Secretary Board of Investment, Yousnis Dagha, Secretary Environment & Alternate Energy Mir Hussain Ali, Ms. Sarah Pervaiz, Arif Pervaiz, EDO (Revenue) Thatta Dr. Hafeez Sial and others. Chief Minister Sindh said that people in coastal areas are facing problems including power facility and it is utmost priority of present government to provide basic facilities to them. He said that the coastal belt of Thatta district is rich in wind waves, and power in abundance can be generated there. He assured full support from Government of Sindh as far as allotment of land for the project is concerned. -Online
Government urged to review agri-policies including the unfavorable policies. He said that 43 percent of Pakistani labour is dependent on agriculture and the yield gap in the four major crops of Pakistan is three times from the best producers in the world such as China and Egypt. He said that low yield was affecting the financial position of the 43% labor leading poverty in the rural areas. He said that if we stayed where we are today in terms of cropped areas and yield per hectare, country would face 30% less food available per capita in the next two decades.
Stop conservancy charges: BQATI TFD Report KARACHI: Mian Mohammad Ahmed, Patron-in-Chief/Founder President, Bin Qasim Association of Trade & Industry and Usman Ahmed, Founder Vice President have requested the Port Qasim Authority to discontinue conservancy charges which is unnecessarily increasing cost of doing business. In his letter addressed the Afsar Din Talpur, Director General (P&D), PQA he said that they understand that the conservancy charges which were decided unilaterally by PQA are meant for providing the sewerage and solid waste disposal system.
IBA annual career fair KARACHI: The Institute of Business Administration (IBA) Karachi organized its second Annual Career Fair on Saturday. An official of the IBA said that this is an effort to facilitate the employment process for its graduates. The event was organized at the IBA Main Campus by the IBA Career Development Society (ICDS) in affiliation with the Career Development Center. Throughout the event, employers and students mingled freely transgressing the corporate barrier to interact informally- an interesting sight to behold. The official said that the event provided great networking opportunities to participants as different activities were organized by companies. -APP
3
Sunday, February 20, 2011
Cars Prices Updated on 19 February, 2011
ALI ZHORAIZ JAFFRI
DAIHATSU CUORE CX
729,000
CUORE CX CNG
779,000
CUORE CX A/T
759,000
CUORE ECOMATIC
819,000
TOYOTA Hilux 4x2 Standard
1,459,000
Hilux 4x2 up Spec
1,499,000
Hilux 4x2 Grand Cabin
2,004,000
COROLLA 1.3L XLi
1,354,000
COROLLA 1.3L GLi
1,479,000
COROLLA 2.0D
1,439,000
COROLLA 2.0D SALOON
1,769,000
COROLLA 2.0D SALOON SR
1,859,000
1.8L ALTIS MT
1,740,000
1.8L ALTIS MT SR
1,830,000
1.8L ALTIS AT
1,830,000
1.8L ALTIS AT SR
1,920,000
CAMRY 2400cc M/T
7,799,000
CAMRY 2400cc A/T
7,999,000
HONDA CITY Manual Transmission
1,315,000
CITY Automatic Transmission
1,446,000
CIVIC i-VTEC Manual Transmission1,633,000 CIVIC i-VTEC Pros Transmission1,784,000 CIVIC VTi Oriel Manual
1,845,000
CIVIC VTi Oriel Prosmatec
1,920,000
Accord 2.4 i-VTEC
5,949,000
CR-V 2.4 Liter
5,549,000
HYUNDAI SANTRO CLUB
739,000
SANTRO CLUB GV
779,000
SANTRO EXEC
804,000
SANTRO EXEC GV
859,000
Without Deck & Sidewalls
879,000
Without Sidewalls (Flat Bed)
889,000
With Deck & Sidewalls
899,000
Tap, trace, doodle: choices abound for phone user C
onsumers have more choices than ever before of how to tell their mobile phones what they want to do, and are likely to change their habits faster than they expect as distribution speeds up. Handwriting, tracing and plain speaking to your device are some of the alternatives to typing that are now on the market -and app stores and Google Inc's Android are putting them into the hands of hundreds of millions of users. Apple Inc's original iPhone in 2007 with its responsive touchscreen revolutionized the way consumers interacted with their phones, spawning widespread imitation at the high end of the market. But typing on a touch screen is still problematic for many users and a host of alternatives have recently sprung up. Nuance Communications Inc, the maker of Dragon
815,000
SPARK LS (Automatic)
890,000
OPTRA SE
1,479,000
OPTRA LS M/T
1,549,000
OPTRA LS A/T
1,629,000
OPTRA 1.8 CDX-MT
1,669,000
OPTRA 1.8 CDX-AT
1,759,000
AVEO LT - M/T
1,369,000
AVEO LT - A/T
1,469,000
COLORADO - MT
3,479,000
The app uses either your photos or e-mail history to organize your various social worlds into distinct groups. Socializing online and in the real world may be edging ever closer, but one stark difference remains: it's much easier to
CHERY CHERY QQ 0.8L BASIC
SUZUKI 473,000
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see a movie when it hears a film title, and responding with local cinema listings. Last year, Apple bought Siri, an iPhone app that doubles as a voice-operated "personal assistant," doing tasks like booking
juggle different groups of friends offline than it is online. A new tool developed at Stanford University addresses the problem by automatically working out a person's different and overlapping friendship groups by analyzing the history of their Facebook or Gmail account. The tool—called SocialFlows—is available as a Facebook app. Once a Facebook user connects it with their account, they can extract their social groups in two ways. The researchers'
software can either work from the images a person was tagged in over the last two years, or from the pattern of email recipients recorded in the last two years via a Gmail account. Once SocialFlows has processed the necessary data, it suggests different groups of contacts or friends, some overlapping. An interactive interface allows the user to add, remove, or reshuffle the groups and then save them to either Facebook or Gmail as contact lists or new groups.
Obama to name Intel CEO to White House jobs panel
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an icon. Swype, invented by the creator of the widely used T9 predictive text technology for numeric keypads, lets users input words by tracing their shape on a touch screen key-
board. Others go a step further: Vlingo combines voice recognition with what it calls an intent engine -- guessing, for example, that a user wants to
Fb App Reveals Your Social Cliques
CHEVROLET SPARK LS (Manual)
speech-recognition software, this week launched an application in five European languages that allows users to switch between four different input methods at the touch of
I
ntel Corp Chief Executive Paul Otellini will be named to a panel of experts advising President Barack Obama on jobs, the White House said on Friday. Otellini will join the President's Council on Jobs and Competitiveness, created in January to focus on lifting hiring and promoting growth. General Electric Co Chief Executive Jeffrey Immelt was named last month to lead the new outside board advising the White House on economic policy. Other mem-
bers of the Council will be named in the coming weeks, the White House said.
The Immelt-led board replaces an economic recovery advisory panel Obama named in 2009 to help guide his efforts to rescue the economy
and rebuild the shattered U.S. financial system. Obama, on a two-day West Coast visit, will tour Intel's Hillsboro, Oregon, facility with Otellini on Friday, the White House said. Obama met with Apple Inc Chief Executive Steve Jobs and other technology industry leaders in Northern California on Thursday as part of a campaign to promote technological innovation as a means of boosting the struggling economy and reducing the 9 percent unemployment rate.
taxis or making restaurant reservations, helped by the phone's knowledge of where the user is. Other smartphone makers have been quick to embrace such technology, either offering it in app stores or pre-installing it on their devices. At the Samsung Electronics Co Ltd stand at this week's Mobile World Congress, visitors experimented with some of the new apps. "Once you get used to it, it will probably be lovely," said Boudewijn Rempt, a 41-year-old software executive from the Netherlands trying out Swype. But he added that he could easily live without it. "I've been typing with my two thumbs for ages now. Being stubborn, I'm fast enough this way," he said. "If all the devices supported it equally well I might be tempted to try it."
Motorola, Android: Xoom Tablet Pricing Announced
So much data, so little money for cell operators
T
elecom operators can hardly curb their enthusiasm about s u r g i n g mobile data usage while at the same time casting around for ways to make money from it. Operators are struggling to manage capacity and pricing so that a few heavy users do not clog up networks and deny average downloaders reliable speeds, access and predictable bills. At the same time they do not want to be relegated to "dumb pipes" or be stuck with the bill for network investment while services and application providers like Google and Apple reap the benefits. "The really big question for everybody is: What is the business model?" Holger Forst, telecoms expert at accountant firm Ernst & Young, said on the sidelines of the Mobile World Congress, the world's largest wireless trade show. While no one regrets heavier mobile data, a lack of clarity about the investment in networks and platforms needed to turn that growth into cash is giving investors the jitters. "Uncertainty is very high, the investment community is totally petrified of the sector ... it does not understand how to price the growth," said Vimpelcom CEO Alexander
Nokia to cut Windows phone prices
F
or those of you anxiously awaiting the Motorola Xoom tablet, you don’t have that much longer to wait. While you can’t pre-order one yet, you’ll most likely be able to do so within a week. But the good news is you finally know how much you’re going to have to scrounge up if you want to get your hands on one of these snazzy Honeycomb tablets. The 32 GB 3G version will be available from Verizon and will cost a whopping $799 without any applicable discounts or deals. The Wi-Fi only version will be available starting at $600.00. And if you want to wait a little while, the Xoom will be 4G capable sometime later this year. That’s not cheap but if you remember the iPad sticker shock upon release, you’ll see that this Xoom pricing falls right in line. As for specs, the official word is that the final retail models will sport a 1 GHz dual core Tegra 2 processor. There’s a 5 MP camera (for you shutterbugs out there) “complete” with 720p recorder— which is a little disappointing. However, the Xoom will support full HD (1080p) video playback.
Izosimov. A recent study by Cisco forecast mobile data traffic would rise 26-fold by 2015. At the same time mobile operator revenues, especially in developed markets, are barely rising. "The tobacco sector has better growth prospects than us," Izosimov added. But operators have yet to map out future steps. "It is difficult to overestimate the impact of mobile data," Vodafone Group CEO Vittorio Colao said, conceding that "the challenge is to develop a model that makes it profitable." The British mobile operator has placed making more of mobile data at the center of a strategic restructuring. Rival Deutsche Telekom is pursuing a similar approach, aiming to almost double sales from mobile Internet and IT services to 29 billion euros ($39.32 billion) by 2015. "But the investment community has not quite bought into the connected device story, it's too vague," said Martin Garner, analyst at research firm CCS Insight.
P
rices of smartphones using Microsoft's Windows Phone software platform will fall fast, Nokia's chief executive Stephen Elop said on Friday. Last week Nokia, the world's largest phone maker by volume, said it would adopt Microsoft's software across its smartphones, raising fears the firm would miss out during the transition on surging demand for cheaper smartphone models. Elop said one of the key topics in the talks on doing a deal with Microsoft was convincing Nokia that it could reach "a very low price point." "We have become convinced that we can do that very quickly," Chief
Executive Stephen Elop said in a meeting with Finnish business journalists. Trying to better compete with Apple's iPhone, Microsoft has so far had tight hardware requirements for phone models using its software -- pushing up handset prices and limiting the potential market. As part of the push to a wider market and l o w e r prices, Microsoft plans to open its mobile platform to other chipset suppliers beyond Qualcomm. Nokia's shares dropped more than 20 percent after it announced the Microsoft deal, but industry executives have said the new alliance will be good for competition and innovation.
Latest Gadgets Retro Slushie Maker
Pentax Optio WG-1 GPS Camera
This unique device will definitely make you the best mom in the neighborhood among kids if a poll were to be run, but let us hope that poll starts after February 24th since it is currently on pre-order and will ship on the mentioned date.
It seems to me that these outdoorsy types that are relying on new fangled high technology are just setting themselves up for failure but I can’t help but admit I’m jealous of some of these gadgets. Take the new Optio WG-1 GPS camera from Pentax.
VTech InnoPad’s little ones to tablets The tablet world has just gotten more competitive, what with the iPad 2 being imminent for a release later this year alongside plenty of other tablets that intend to challenge Apple’s dominance coming your way as well.
The 1st Dual Screen Android Phone
Sprint is trying to carve out a solid place in mobile market for itself with its latest addition to line up—Kyocera’s Echo. The phone is first dual screen Android phone and features two 3.5 inch displays running at 180 x 800 resolutions. When unfolded, the two screen work together to give users a single 4.7 inch work/play surface
New HTC Freestyle Phone HTC’s new Freestyle model will hit your local AT&T store shelves on February 13th of 2011. The phone runs on Qualcomm’s Brew MP operating system (rather than Android or Windows) and comes with an integrated HTML browser— which is nice when compared to other phones and their limited web capacities.
4 Sunday, February 20, 2011
What Drives our Media?
The Financial Daily International Vol 4, Issue 185
PROFIT OR PUBLIC INTEREST?
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir
Mariam Shaikh
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
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Creation of US bases in Afghanistan Withdrawal of Nato forces was planned to begin from Afghanistan from July this year and to be completed in 2014. However, it seems that US is keen in creating its permanent basis. While Afghan government wants to discus the issue once withdrawal has been completed Russia does not approves this. US President Barack Obama had promised to begin withdrawal of troops from Afghanistan from July, with Afghan forces to take over security responsibility by 2014. The pace and scale of that drawdown has not yet been finalized but will certainly depend on conditions on the ground. With the start of the transition a few months away, violence across Afghanistan remains at its highest levels since the Taliban were ousted in 2001. The escalation in Taliban hostilities is despite the presence of about 150,000 foreign troops. This has raised apprehensions that the withdrawal may not begin as per the initial indications. Washington has also expressed its intention of maintaining its presence and role in Afghanistan beyond 2014. Defence Secretary Robert Gates also favors maintaining joint facilities in Afghanistan. Russia has helped US and Nato forces fight the Taliban-led insurgency by providing supply routes and weapons for Afghan forces, but has ruled out sending troops and says the campaign must not be indefinite. In fact Russia has asked the US to vacate the airbase in the ex-Soviet Central Asian Republic of Kyrgyzstan once the Afghanistan mission is over. Pakistan, China and Iran have not officially responded to this but will have to come up with a policy statement at the earliest. Indian response will also be crucial because it has made substantial investment in Afghanistan. It is likely to support the US wish to reciprocate the favour already received in the form of nuclear technology for civilian use and the US recognition of India as regional super power. China is likely to be disturbed by the permanent US presence in Afghanistan. The US insistence on permanent presence in the country can best be understood by the Afghan claim that it can meet global requirement of rare earth. Of lately, China has decided to curtail its export of rare earth. There is growing realization among Pakistanis that if the US forces remain in Afghanistan lasting peace will not be established. The US has already bifurcated Taliban into good and bad categories and have also started buying out loyalties. They also fear that there will not be an end to other neighboring countries continuing to support different groups in Afghanistan. As a diplomatic standoff between Pakistan and the US festers, Secretary of State Hillary Clinton has already warned that instability in Pakistan could hamper war on terror in Afghanistan and foment anti-American sentiment. The unrest in the Middle East has also upset the US which has been relying on privileged access to airfields and ports in the Middle East. The future role of the US in the region hinges on its ability to monitor oil shipping routes in the Gulf and keep a watchful eye on arch-foe Iran.
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.
I
am writing this article in my desire to see Pakistani media serving the public interest in real terms and command the professional ethics of mass media and journalism. The nation loves its media because it has always had stood by the democratic values and truth to the date. In the growing trends of capitalism, media has emerged as a giant industry with its huge economic stakes in the free market economy. We can not overlook the economic dependency of media on advertisement revenues and circulation rates. The ever expanding and ever influencing media today brings opportunities and threats but in the race of high circulation and high profits, the most vulnerable value is public interest. We must pause for a while and look back at the history to see whether our media has taken the right track? I came across the interview taken from the James McGrath Morris ,the author of the book titled "Joseph Pulitzer: Biography tracks rise of Media Empire", who has tried to justify in his book that Joseph Pulitzer in 19th century laid the foundation of independent media and the beginning of Journalism as public service. Joseph Pulitzer was a Hungarian-American newspaper publisher of the St. Louis Post Dispatch and the New York World .He coined the idea of "new journalism" and in the words of Morris(2010), he reshaped the American media . Independent reporting and journalism as public service in the 1880s are the legacies of Pulitzer and he is named among early Titans of mass media industry. The study of political economy of media can help see the arguments made by the author of Pulitzer's biography under moral and philosophical ideals of Journalism. Croteau & Hoynes (2006) mention the fact that early Print media moguls coupled their sensational storytelling with open disdain for concentrated wealth and power. Madeline Rogers further notes that their sympathies to common people were not only fueled by a desire for circulation and profits but by a hatred of the excesses of the gilded age (Croteau & Hoynes, 2006, p.166). But Morris (2010) maintains that Pulitzer saw journalism as means to reform and an extension of politics and establishing a symbiotic relationship with common people through his paper made possible to take their pennies to make his fortune (Morris, 2010). The author of Pulitzer's biography however agrees to the fact that in the
race of high circulation, the paper was engaged in sensationalism and fabrication. Entrepreneurs like William Randolph Hearst (New York Journal) and Joseph Pulitzer (New York World) seized the day with 'lurid , multi-column headlines, seductive portraits of the lives of rich and famous ; 'women's pages , often prevaricated news of crimes, accidents, scandals and bizarre or sentimental human interest'(Bettig & Hall, 2003 p.77) but can this be called as public service ? News is supposed to be an oasis protected from sensationalism and trivialization (Croteau & Hoynes, 2006 p.166). Pulitzer had given us changed news consumption habits , true but the idea of purchasing news through Independent Journalism requires further investigation. At that time, the two main papers in Saint Louis were The Missouri Democrat and The Missouri Republican which were politically paid for. Independent press was termed as the one that
“
people from the drudgery imposed by capitalist work relations. (Jhally, 1989 , p.70). Thus Croteau and Hoynes (2006) asks us not to romanticize a 'golden era' of Journalism when reporters were staunchly independent. The reality is that commercial forces have long influenced the profession of journalism and the content of the news (Croteau & Hoynes, 2006 p.189). In his biography , Pulitzer is described as passionate kind of reformer against corruption exposes the dark side of the government. One can reject this argument by insisting that journalists are interested in bad news about the economy. (Bagdikian,2004, p.165) .The evidence that candidates for governor from states like Oregon applying to Pulitzer's New York paper for an endorsement supports the fact that journalism is a political force. Recalling, Italian Marxist Antonio Gramsci's 'ideological hegemony' where system's real strength is in the acceptance by the ruled of a 'conception of the world' which belongs to ruler (Domhoff, 1999, p. 274) we may say that political leaders rely on media to satiate their hunger for favorable treatment in the big media (Bagdikian, 2004 p.29) in order to establish favorable relationship between leaders and the led. In summary, James McGrath Morris, may call the economic, political and journalistic success of Joseph Pulitzer as a result of symbiotic relationship with common people, but the fact that, advertising and journalism as ideological and economic institutions possess symbiotic relationship between them and have explicit impressions on the structure and content of the news can not be overlooked as well (Bettig & Hall , 2003). Pakistan is a prime example of fast growing media industry in a capitalist framework of market dynamics, the above contemplation implies to its freedom stand point a great deal. The history of media industry is in the making in this region, it is important to realize that the very definition of media freedom is the freedom from political and economic dependency at the same time and their target of reaching out are 'audiences' not 'Consumers'. Media in south Asian region in Pakistan has tremendous political and social influence and if it conforms to economic dependency and pursue for profits from advertisers, the public trust will be let down. (PhD fellow, Florida State University. Tallahassee, Fl, USA).
Pakistan is a prime example of fast growing media industry in a capitalist framework of market dynamics, the above contemplation implies to its freedom stand point a great deal. The history of media industry is in the making in this region, it is important to realize that the very definition of media freedom is the freedom from political and economic dependency at the same time and their target of reaching out are 'audiences' not 'Consumers'. was sustained by means other than Political contributions and in a sense represented people (Morris, 2010). Pulitzer can be appreciated as acting upon the libertarian principles; polity should not influence the production and distribution of knowledge. (Norris, 1990). But Jhally (1989) is of the view that often played out in specific historical and material circumstances, the freedom of expression (and the press) is taken as freedom from control by government only. Thus as McChesney (2004) puts, this was a Commercial Journalism, where the owner had found relatively inexpensive means to generate profits, and the profits out-weighed the effect of social disapproval. Higher circulation means higher ad rates and higher profits. (McChesney, 2004, p.61). The higher circulation may not depicts the aesthetic standards of 'mass culture' or something that arose from 'the masses' themselves as suggested by Jhally (1989) but was instead imposed by the dictates of marketplace .Culture then is not a product of genuine demands. The product of cultural industries is divorced from art and their purpose is to divert
China resisting G20 deal on indicators C
hina was holding out against an agreement among the world's major economies on ways to measure and correct global economic imbalances, refusing to have its massive currency reserves used as an indicator. Finance ministers and central bankers of the Group of 20 countries were struggling to agree on a set of yardsticks to identify problems that could cause another global financial crisis after senior officials failed to achieve a breakthrough in an allnight negotiating session, delegates said. China continued to reject attempts to use real effective exchange rates and currency reserves to measure imbalances and wanted trade figures rather than current account balances used to assess economic distortions. "China and Brazil are objecting, including on real exchange rates. Some countries do not want the words exchange rate included in the set of indicators. This is why the talks are blocked," Italian Economy Minister Giulio Tremonti said. A senior G20 official said French Economy Minister Christine Lagarge, chairing the talks, was leaving the indicators issue until the final session in hopes of clinching a lastminute compromise. "It is looking bleak as of now, the negotiations have turned quite political," another senior G20 source said. "But I'm not saying it's a dead end. Ministers want to put something in the communiquĂŠ." The world's number two economy,
which overtook Japan this week, has resisted Western pressure to substantially revalue its currency to help rebalance global growth. Germany held out hope for a deal despite the Chinese stance. "I think we will reach agreement on which indicators we (use to) measure imbalances in the future, to fight
tracked by the indicators dispute and welcomed the fact that China had agreed to host a seminar on reforming the international monetary system in Shenzhen in late March. "I want to avoid your debates getting bogged down in interminable discussion about these indicators, which are distracting us from the
France has also run into opposition with its two other G20 priorities -- greater transparency and regulation of commodities prices and reform of the international monetary system. timely mis-developments, to come to a balanced growth," German Finance Minister Wolfgang Schaeuble told reporters. The main developed and emerging economies have agreed on some key indicators, such as government debts and deficits, consumer borrowing and private savings. But failure to agree even on how to measure mismatches in the world economy would augur badly for the G20 process, charged with finding ways of coordinating global economic policies to smooth out distortions before they trigger future crises. French President Nicolas Sarkozy, who holds the G20 presidency this year, urged ministers not to get side-
essentials," Sarkozy said in a speech. He said a joint approach was the only way forward. "Giving priority to national interests would be the death of the G20," he said. COMPROMISE? Even if all the yardsticks are agreed, there is no sign of numerical targets even being broached. "Until April in Washington the process of implementation of indicators will be talked about," Schaeuble said. France has also run into opposition with its two other G20 priorities -greater transparency and regulation of commodities prices and reform of the international monetary system. On Friday last, ministers said there
was broad agreement over two indicators measuring public and private debt but France, and most of the group, wants a full slate covering not just those areas but the current account, the real effective exchange rate and currency reserves as well. China's trade surplus has shrunk of late, perhaps explaining why it prefers that measure. It has consistently pushed back against US pressure to allow its yuan currency to revalue more quickly and complains that "hot money" risks destabilizing its economy, pointing the finger at the Federal Reserve's money printing via a $600 billion bond purchase program. One option mooted was to allow China to opt out of the balance of payments criterion and use its trade balance instead. But two G20 sources said an opt-out was a non-starter. China's opposition left G20 deputies -- the experts who negotiate on details -- with limited options to propose: either accept all the indicators or reject them; introduce a hierarchy where some indicators count more than others or use a time delay for their gradual introduction. But some delegates said there was doubt whether the Chinese delegation, led by finance minister Xie Xuren, was empowered to compromise. With world shares at 30-month highs, investors seem content for the G20 to take its time, whereas at the height of the crisis two years ago markets were baying for policy action. -Reuters
5
Sunday, February 20, 2010
Diet may mitigate arsenic toxic effects
Stop Snoring S
noring is a fairly common affliction, affecting 40 percent of men and 25 percent of women. If you snore, you make a raspy, rattling, snorting sound while you breathe during sleep. Older people are particularly prone to snoring: About one-third of people ages 55 to 84 snore. Despite its frequency, however, snoring is a sleep disorder that can have serious medical and social consequences. The tips that follow may help you sleep more peacefully. Sleep on Your Side You're more likely to snore if you're lying on your back, and sleeping on your stomach is stressful on your neck. Lose Weight Excess body weight, especially around the neck, puts pressure on the airway, causing it to partially collapse. Avoid Alcohol and Tranquilizers Both alcohol and sleeping pills can depress your central nervous system and relax the muscles of your throat and jaw, making snoring more likely. These substances are also known to contribute to sleep apnea, a dangerous condition that has been linked with cardiovascular disease. And they should never, ever be used together. If you have difficulty sleeping without sleeping pills (or if you use alcohol to help yourself fall asleep), discuss it with your doctor. Get Your Allergies Treated Chronic respiratory allergies may cause snoring by forcing sufferers to breathe through their mouths while they sleep. Taking an antihistamine just before bedtime may help. If your nose is stuffed up, try using an over-the-counter saline spray or a humidifier. Buy a Mouth Guard Your dentist or doctor may be able to prescribe an antisnoring mouth guard that holds the teeth together and keeps the lower jaw muscles from becoming too lax. Stop Smoking Smoke damages the respiratory system. Keep a Regular Schedule Get plenty of sleep. Go to bed and get up at the same time each day. See a Doctor if You Are Pregnant and Snoring Sometimes, women who are pregnant will begin to snore. The snoring may begin because of the increased body weight and because the hormonal changes of pregnancy cause muscles to relax. Whatever the cause, snoring during pregnancy may rob your baby of oxygen. Talk with your doctor about it. Elevate Your Head Sleeping with your head raised may take some of the pressure off of the airway, making breathing easier. Raise the head of the bed by putting blocks under the bed posts, or prop up your upper body (not just your head, which can actually inhibit breathing) with pillows. Excessive snoring may also indicate that you have sleep apnea, a serious sleep disorder. The WHO recommends that you see your doctor if:You wake up during the night choking and gasping for breath n You have been told that your snoring is disturbing to others n You don't feel refreshed when you wake up n You are extremely tired during the day n You wake with a headache n You are gaining weight n You have trouble concentrating, remembering, or paying attention n Your bed partner notices that your breathing pauses during sleep It's important to have sleep apnea treated, not only because it interferes with your daily functioning, but because it boosts your risk of vascular disease. Sleep apnea can be treated with lifestyle modification, surgery, oral mouth guards, or a CPAP machine, which blows air into the back of your throat while you sleep. For more information.
P
eople drinking water naturally contaminated with high levels of arsenic may benefit from eating more radishes, sweet potatoes and other similar plants, a new study finds. Among residents of Bangladesh, a region highly contaminated with arsenic, those with diets relatively high in roots and gourds - which also include green papaya and pumpkin - were less likely to develop telltale skin lesions after being exposed to high levels of arsenic, a sign the chemical was probably causing fewer toxic effects. "Their risk is different based on their intake of different food items," study author Dr. Habibul Ahsan of the University of Chicago told Reuters Health. Arsenic is an element found naturally in rock, soil, water, the air and the food supply. It is also released into the environment through industrial activities; for instance, arsenic is used as a wood preservative and in some paints, dyes and fertilizers. High arsenic exposure can lead to cancer, and chronic exposure to even moderately elevated levels has been linked to high blood pressure and type 2 diabetes. The U.S. Environmental Protection Agency (EPA) has set the maximum allowable level of arsenic in drinking water at 10 parts per billion (or 10 micrograms per liter) and is currently considering lowering that limit. According to the Centers for
Disease Control and Prevention, about 80 percent of U.S. drinking-water supplies have an arsenic level below 2 parts per billion (ppb), but two percent exceed 20 ppb. The current findings, which
mitigate their risk with diet, Ahsan and his team asked nearly 10,000 residents about their diets, tested the levels of arsenic in their wells, and followed them for approximately 6 years, noting who developed skin lesions.
appear in the American Journal of Epidemiology, focus on residents of a region of Bangladesh known for its extremely high levels of arsenic naturally present in drinking water - in some cases, exceeding 200 parts per billion. Previous research has suggested that certain nutrients, such as selenium, vitamin A, iron, folate and zinc, may help the body defend against arsenic, the authors write. To investigate whether people who drink from arsenic-contaminated wells can
More than 800 skin lesions developed over the study period. These lesions are a pre-cancerous condition, Ahsan said in an interview, in which the skin thickens like a freckle, starting small but often spreading. "We used the skin conditions as a marker of more serious conditions," he explained, since evidence suggests people with more skin problems related to arsenic are more likely to have other, more serious, conditions related to arsenic.
They found that people who ate diets relatively high in roots and gourds - as opposed to meats or other kinds of vegetables -- were less likely to develop arsenicrelated skin lesions. For example, among 2,419 people who consumed the greatest amounts of roots and gourds, 156 skin lesions developed, versus 248 lesions seen in 2,420 people who ate the smallest amounts of these plants. The diet heaviest in roots and gourds appeared to lower the risk of lesions by 30 percent overall, and some protective effect was seen even among people who drank water very highly contaminated with arsenic. It's not yet clear why roots and gourds, specifically, might mitigate arsenic's toxic effects, Ahsan noted. Some unknown constituent of these plants may somehow help the body flush out arsenic, he suggested. "Some combination of nutrients that tend to be in excess in these types of foods, together in concert, are making a difference," he said. "We actually do not know exactly." Finding ways to mitigate arsenic's toxic impact is "urgently needed," Ahsan added - once people have been exposed to arsenic for an extended period, their risk of problems remains high, even after the arsenic is removed. "So even if this population gets arsenic-free water tomorrow, that doesn't mean the problem is solved."-Reuters
Kidney stones and clogged arteries may be linked Y
oung adults who've had kidney stones may also have an increased risk of clogged arteries, a new study says. This does not mean that one causes the other, but instead the two conditions might have some common root cause, according to the paper published in the Journal of Urology. "People who have kidney stones could be sort of the canary in the mine shaft," said Dr. Marshall Stoller, professor of urology at the University of California in San Francisco, and an author on the paper. Slightly less than four percent of people had kidney stones at some point in the 20 year study. These people had about a 60percent increased risk of getting clogged arteries later in their lives. People tend to think of a kidney stone as a urinary problem, "but we need to be cognizant of the fact that the kidney is a blood filter," Stoller said, and can show signs of problems in the arteries as well. High cholesterol, high blood pressure, smoking, and diabetes can all increase the risk of clogged arteries, which can lead to both heart attacks and strokes. These two diseases combined killed more than 589,000 people in 2005, according to the American Heart Association.
That people with kidney stones have an increased risk of clogged arteries is not really a surprise, said Andrew Evan, professor of medicine at Indiana University-Purdue University in Indianapolis, who was not involved in the study.
blood pressure, or is it the kidney stones themselves?" Evan said. "We really don't know that." About 5 percent of adults in the US have had kidney stones, according to the National Institute of Diabetes and
Previous studies have linked kidney stones with high blood pressure, which increases the risk of developing clogged arteries. But as far as what can lead to clogged arteries, "is it the higher
Digestive and Kidney Diseases, a slightly higher proportion than in the study. The study involved more than 5000 young adults between 18 and 30 years old who came back
for exams at regular intervals over the next 20 years. At the 20-year exam, the researchers analyzed the thickness of the wall of participants' carotid arteries. (A thicker-thannormal artery wall is a sign of the arteries getting clogged up.) And that's when they found that people who'd reported having kidney stones were 60 percent more likely to have clogged arteries, compared to people without kidney stones. A problem with the study is that it included all people with kidney stones together in one group, Evans said. There are a number of different reasons people can get kidney stones such as too having much calcium in the urine, sustained dehydration, or a hereditary disorder. Not all may have an increased risk of clogged arteries, although more research is needed to shed some light on the issue. In the meantime, you can reduce your risk of getting kidney stones by drinking enough to urinate about two liters a day and by cutting down on salt and meat, Stoller said. And the American Heart Association advises that to reduce the risk of clogged arteries, people should exercise, eat a healthy diet, and not smoke. "This is a warning sign," Stoller said. "The kidney stone is the tip of the iceberg."-Reuters
Fruit salad and blood sugar meters don't mix L
isten up, diabetics: invisible bits of fruit on your hands can mess up your finger-prick blood tests, making your blood sugar level look higher than it really is. That's because sugars from fruit will stay on your fingers until you wash them with tap water, a new study shows. Even alcohol swabs don't solve the problem. The researchers say that peeling fruit right before you use a blood sugar meter, or eating some juicy fruit with your hands, could lead to an inaccurate reading even if you rub your finger with alcohol first. Blood sugar meters work by taking a drop of blood from the tip of the finger and testing the sample for how much sugar is in the blood. Many people with diabetes have to use these meters a few times a day to monitor their blood sugar levels and
determine how much insulin to take. Close to 20 million people in the U.S. have diabetes, according to the Centers for Disease Control and Prevention. For the new study, published in the journal Diabetes Care, Dr. Takahisa Hirose of the Juntendo University Graduate School of Medicine in Tokyo,Japan, and colleagues found ten healthy volunteers. None of the volunteers had diabetes; they all had normal blood sugar levels. The researchers measured the blood sugar levels of all volunteers under a variety of conditions. First, participants swabbed a finger with alcohol and did the test before handling any fruit, to find their true blood sugar levels. Next, the volunteers peeled oranges, grapes, or kiwis and checked their blood sugar without cleaning up,
after cleaning up with alcohol, and
sidered in the normal range.
after washing with tap water. When fruit peeling was followed by hand washing, blood sugar readings were the same as before volunteers had peeled any fruit -- generally around 90 milligrams per deciliter (mg/dL), con-
But when volunteers peeled fruit and took a blood sugar reading right away, the levels shown by the blood sugar meter shot up -- to about 170 mg/dL on average after peeling an orange, 180 mg/dL after peeling a kiwi, and 360
mg/dL after peeling a grape. And if the peelers swabbed their finger with alcohol in between peeling and finger pricking, the readings were still higher than normal. Even swabbing five times didn't produce correct results. In the directions that come with blood sugar meters, the manufacturers generally tell users to wipe their finger with an alcohol swab before taking a reading. But that might not always do the job, the researchers say. "People are used to pricking the finger, drawing a blood sample, (and) assuming that the measurement they make reflects the sugar content in the blood," said Dr. Robert Cohen, who studies diabetes at the University of Cincinnati Medical Center and was not involved in the current research. But, he told Reuters Health, patients "really have to have a
checklist" that helps them decide, Was the test done right? Are the circumstances right for this? Cohen said the example in this study may seem obvious: having sugar on your fingers from fruit can interfere with that meter's readings. But it's still an important finding, he said. When you use the meters, Cohen said, the assumption is that you're measuring your blood sugar, not the sugar on your fingers. Getting an inaccurate reading from sugar on the outside of the finger "could lead somebody to take insulin when they don't need it," Cohen said. "They could run the risk of running a low sugar from having misleading data." The message, the authors say, is to wash your hands before using a blood sugar meter and not rely on alcohol swabs, especially if you've been handling any fruit.-Reuters
International
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SOUTH EAST ASIA OFFERS LESSONS FOR EGYPT * MOVE TO DEMOCRACY IS LENGTHY PROCESS, NOT A SINGLE MOMENT * ECONOMY NEEDS TO BE KEPT GROWING TO ENSURE SUPPORT * REFORM MOMENTUM NEEDS TO BE RENEWED OR GAINS WILL BE LOST
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dictator who has ruled for a generation with the backing of the United States is suddenly forced from office and a population keen to throw off the shackles of authoritarianism looks to embrace democracy. As Egypt looks to shift to democracy, the experiences of the Philippines' since the toppling of Ferdinand Marcos in 1986 and Indonesia since the overthrow of Suharto in 1998 show that, while the revolutions were all different, the transition is a bumpy and fragile process that can take decades to secure. "What I think is important is both the Philippines but even more so Indonesia show that you can do it right, and that as you do get the reform away from an authoritarian leader of that many years... that need not go to a fundamentalist group, an extremist group," said Bob Broadfoot of Political & Economic Risk Consultancy. "As messy as the process is, it can take them down the road to a more democratic system." Indonesia is seen by many as a better model for Egypt's transition, both as a Muslim country that has largely held extremists at bay, and because of its early progress made in developing and strengthening its economy and institutions. Both the Philippines and
Indonesia have managed to move the military out of the centre of politics, a key issue for Cairo where the army allowed protesters to gather. "Egypt has had more support from the U.S. and it's in a key strategic position in the Middle East, so that actually makes it harder for Egypt," said political risk consultant Kevin O'Rourke in Jakarta. "In Indonesia the political elite was fragmented and so they agreed to hold elections. It's different in Egypt, where Mubarak has handed over power to the military, which has never been very good at making the transition, especially in the Middle East... The key really is to have a civilian caretaker to usher in elections." The Philippines offers some cautionary lessons -- both for Egypt and Indonesia. The peaceful "people power" overthrow of Marcos was itself revolutionary in 1986, coming before the fall of communism in Europe, but the country has failed to capitalise on its opportunities. KEEP ECONOMY GOING Asia's experience shows it is crucial for a new democracy to keep the economy growing, and that means the new leaders may have to work with those who benefited from the ousted regime or were
part of its inner circle. Many of those who gained wealth and influence under Marcos and Suharto have retained it. Further, efforts to pursue the massive wealth the dictators amassed have been mostly futile. "The Filipino elite did a remarkably good job of defending their position. Remarkably few of them, including the Marcoses, really suffered from the transition away from Marcos's presidency," said Broadfoot, who was in Manila in 1986. In 2011, Marcos's widow is a congresswoman, one daughter is a provincial governor, and his son, Ferdinand Jr, is a national senator who is spoken of as a future presidential candidate. And one of Suharto's sons, Hutomo Mandala Putra, known as Tommy, is angling to be a candidate in Indonesia's next presidential election. Without a growing economy, public discontent rises -- even for dictators. It was fallout from the 1997/98 Asian financial crisis that helped topple Suharto, and the economy was a spark in the protests in Egypt and elsewhere. "It's powerfully in the interests of both the nation and the prospects for democracy that the economy work," said Andrew MacIntyre, Dean of the College of Asia and the Pacific at the Australian
National University (ANU). "If the economy does not work well, then democracy will come under pressure sooner rather than later." More than a just headline growth figure, that means the population needs to share in the benefits of growth, something Manila needs to improve on. Indonesia has a higher GDP per capita in U.S. dollar terms than the Philippines, $2,349 against $1,752 in 2009, World Bank data shows. In 1996, GDP per capita was essentially the same in both countries, but since then Indonesia's has doubled, while the Philippines' risen 1.5 times. Asian Development Bank figures also show the Philippines was the only Southeast Asian nation to record an increase in the absolute number of poor people since 1990, and its poverty reduction rate in 2008 lagged Indonesia's. Security worries have hampered both countries' ability to attract tourism, a key source of jobs and revenues, in a decade that saw the sector boom elsewhere in Asia. With Egypt relying on tourism for a tenth of its GDP, it will be important for the Mediterranean country to avoid the communal violence that Indonesia saw in its first years of democracy or Manila's repeated coup attempts and persisting insurgencies.
MAINTAIN THE MOMENTUM As the 25th anniversary of Marcos' overthrow looms, the Philippines is hoping for a renewal under President Benigno Aquino, son of Cory Aquino, who replaced Marcos in 1986, after two administrations dogged by allegations of corruption and mismanagement. In 2010, the Philippines ranked 134 out of 178 countries on Transparency International's Corruption Perceptions Index, with Indonesia ranked 110th and Egypt in 98th place. In 1998, when the index had 85 countries, the Philippines was ranked 55th, ahead of both Egypt (66) and Indonesia (80). "Some bad news, or reality, is that transitions to democracy are usually accompanied by a proliferation of corruption, not a reduction in corruption," ANU's MacIntyre said. That was because there were a lot more people who needed to be "persuaded", rather than a central authority, and typically legal systems were not strong after an authoritarian regime. On the World Governance Indicators -Voice and Accountability, Political Stability, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption -- the Philippines went backwards
between 1998 and 2009, while Indonesia improved across the board. Both are still ranked lowly -Indonesia does not score above 50 in any of the six categories, while the Philippines scores 50 or higher in only two categories, down from four in 1998. While Indonesia and the Philippines have failed to eradicate either high-level or petty corruption, they have made progress in terms of developing checks and balances on abuses of power through civil society and relatively free media. Their success on maintaining harmony between different ethnic or religious groups in the absence of a strongman dictator has been more mixed however, with separatist movements in the outlying provinces of Mindanao and Papua, and militant groups carrying out terror attacks in both capitals. But both have still held together much better than Yugoslavia or Iraq. Perhaps most importantly, their populations have maintained the post-revolution sense that democracy is a right. Still, for all Indonesia's progress, there are concerns it has stalled on its early promise and the pace of reform has slowed, much as the Philippines lost its way from the late 1990s.-Reuters
Glimmer of G20 hope as adjustment takes shape I
t's too early to be sure, but signs that China's current account surplus will keep shrinking as a share of national output could draw some of the venom from the debate on global economic imbalances preoccupying the G20. Imbalances in general and China's exporting clout in particular remain controversial, even if a brightening global growth outlook has dampened excited talk of currency and trade wars. Brazil has joined India in complaining about the yuan's exchange rate, which the International Monetary Fund, in a report prepared for a G20 finance ministers' meeting in Paris, says is still substantially undervalued. But the problem, some economists contend, is at least not getting worse -- thanks partly to another issue that the Group of 20 major economies is grappling with: food-driven inflation. U.S. Treasury Secretary Timothy Geithner makes little
attempt to hide his satisfaction that, because China's inflation is much higher than America's, the yuan's real exchange rate against the dollar is rising at around 10 percent a year. That would translate in time into a major shift in relative competitiveness. "In a nutshell I would say that as long as the U.S. is happy, tensions in the G20 will not increase in any serious way," said Wendy Dobson, codirector of the Institute for International Business at the University of Toronto's Rotman School of Management. Inflation is a second-best solution as it punishes those on low and fixed incomes, but vested interests stand in the way of the ideal economic outcome, be it in China or the United States. "Real RMB appreciation is substantial and the politics in China of faster nominal appreciation are probably as intense as the U.S. politics of fast deficit reduction," said
Dobson, a former associate deputy minister of finance in Canada. The yuan is also known as the renminbi (RMB). "Each knows what it has to do and each is moving in the right direction but much slower than rest of the world would like," she added. The IMF's first deputy managing director, John Lipsky, would certainly like faster action. He warned G20 deputy ministers on Thursday that global imbalances were in fact likely to worsen. In particular, the IMF has warned of the medium-term risk of a significant rebound in China's current account surplus, which stood at $306 billion, or roughly 5.2 percent of gross domestic product, last year, down from a peak of 10.6 percent in 2007. To be sure, according to the Bank for International Settlements, the yuan's real exchange rate measured against the currencies of China's main trading partners
has actually depreciated since Beijing abandoned a de facto dollar peg last June -- hence the ire of Brazil and others. That fact will not be lost on a regular IMF fact-finding mission due in Beijing next week. Moreover, Derek Scissors, a research fellow with the Heritage Foundation in Washington, argues that the current account is an inadequate gauge of the imbalances plaguing China. Because investors anticipating a stronger yuan find ways of parking money in financial assets, he looks also at China's surplus on its financial and capital account, which rose to $166 billion last year. Since the People's Bank of China buys most of the foreign exchange flowing into China to control the yuan's rate of climb, the central bank's reserves rose by $470 billion in 2010. "That is a clearly better number to use than the current account. It does show slower growth from a bigger base,
both in terms of GDP and reserves themselves. But it also modifies the claim of rebalancing: growth in imbalances has slowed sharply, a necessary first step but not actual rebalancing," Scissors said. Still, the G20 is leaning heavily towards adopting the current account as a major benchmark, and many economists are forecasting a continued decline in China's surplus. Macquarie has pencilled in 4.4 percent for this year and 3.7 percent for 2012; Nomura's forecasts are 4.1 percent and 3.1 percent, respectively. Geithner last year floated an indicative maximum surplus or deficit of 4 percent. "At this point, China is clearly helping to rebalance the world economy in two ways: its import volume is rising distinctly faster than its by no means sluggish export volume, and its increased overheating means inflationary pressure that raises the real effective exchange rate," Charles
Dumas of Lombard Street Research in London said in a report. Imports leapt 51 percent in January from the same month a year earlier, outstripping a 38 percent rise in exports. Seasonal factors make the figures impossible to interpret with confidence, but the buoyancy in imports extends beyond commodities. China last year became the world's No. 2 importer. German exports to China of luxury cars and top-of-the-line manufacturing equipment are booming as China raises the quality of its industrial base, a priority of the five-year plan to be unveiled next month. As for inflation, the other ingredient in China's rebalancing, a consensus has formed that a higher rate of around 4 percent is the "new normal" in an era of rising food prices and rapidly accelerating wages for migrant workers. The ruling Communist Party needed no reminder of the perils of inflation even before the
recent spate of revolts in North Africa and the Middle East. Policymakers are on high alert. But as economists at Bank of America Merrill Lynch point out, inflation also helps the economy adjust: rising wages erode the competitiveness of labour-intensive exporters and boost consumption in a way that fiscal policy cannot. China's costs and productivity relative to those of viable rivals mean it will remain an unbeatable mass manufacturer of consumer goods, even if the likes of Bangladesh and Cambodia capture lower-volume runs of low-end textiles. But the message for the world is: get ready for higher prices from China. In the United States, the cost of apparel rose 1.0 percent in January, the U.S. Labor Department said on Thursday. "The trend of adjustment through higher inflation is likely to persist for the next several years," the BoA Merrill economists concluded in a report. -Reuters
Berlusconi to ride out storm, for now E
ven Prime Minister Silvio Berlusconi's worst enemies admit he is a formidable political fighter and it looks like he intends to battle his way through the most serious scandal of his political career. No other European leader could have survived the weeks of ridicule Berlusconi has suffered over prosecutors' allegations he had sex with an under-age prostitute and abused his office to have her released from police custody as part of a cover-up. The 74-year-old premier has been ordered to stand trial on April 6 but he has rejected all calls to resign and dug in, accusing leftist magistrates of joining forces with the opposition to thwart a democratically elected government. Given the scope for delay his lawyers will have and the normal length of Italian trials, a final verdict may take years. Ignoring media criticism,
street protests and disapproving comments from the Vatican and Italy's main business federation, he has concentrated on rebuilding a majority in parliament that he nearly lost after a split in the ruling PDL party last year. "He has tempted over 10 or 15 deputies and that's all he needs to prevent parliament from being dissolved," said politics professor and former centre-left senator Gianfranco Pasquino. Even Berlusconi's archrival on the centre-right, Gianfranco Fini has acknowledged that the Future and Freedom party he set up after breaking away from the PDL was in trouble as a succession of rebels have returned to the government fold. "It would be useless to deny the evidence. The Future and Freedom party is having a difficult moment," he told the daily Secolo d'Italia newspaper in an interview on Friday, admit-
ting that Berlusconi was likely to increase his majority. Opinion polls have shown a steady erosion in support for Berlusconi since the scandal broke over "Ruby", the teenaged Moroccan nightclub dancer at the centre of the scandal. But as long as he has a majority in parliament, he will not be brought down by public condemnation, no matter how many demonstrations are held, and neither will he resign under pressure from the courts. "When all is said and done, what counts is the numbers, the rest is just talk," one of his closest advisers said, dismissing the uproar from press and opposition and the half-amused, half-astonished commentary from outside Italy as the storm gathered this month. "We're carrying on." NORTHERN LEAGUE Whether such optimism is justified will depend above all on the premier's sometimes unruly allies in the
Northern League, a prodevolution, anti-immigration party which brought down Berlusconi's first government in 1994. The League has its eyes focused firmly on a package of measures aimed at giving more tax and spending powers to the regions and thus freeing the rich north of Italy from the burden of paying for the poor and inefficient south. The status of the package is still undecided after President Giorgio Napolitano rejected a government attempt to approve some of the measures without the backing of a key parliamentary committee this month. So far, party leader Umberto Bossi has assured Berlusconi of his support and any inclination to withdraw his backing and bring the government down before elections scheduled in 2013 may be cooled by polls which have shown steady gains for the chronically
divided centre-left. Polls up to the end of last year suggested the centreright would probably have won an election, with the League enjoying a stronger position thanks to its solid regional base. But the signs are looking less positive now. An opinion poll published this week by the Demos agency showed Berlusconi's approval rating at 30 percent, down 18 points from a year ago, and for the first time polls are suggesting he would be unlikely to win an immediate election. NO RIVALS Battening down the hatches and hoping the storm will pass may well keep Berlusconi in office however, particularly as his dominance of the PDL means he does not have to fear the kind of party revolt which has often sealed the fate of embattled leaders in other countries. "What is striking is that no colleague has had the
courage to say publicly 'this is not the way to behave,' they are all intimidated by him," said political commentator Luca Ricolfi. Economy Minister Giulio Tremonti, praised for keeping a lid on public spending during the financial crisis, is often cited as a potential successor and he has been notably lukewarm in his expressions of support. But whether he has the political powerbase or the ruthless streak needed to topple Berlusconi is another matter. "Centre-right support would be higher under Tremonti but it's highly unlikely that he would betray Berlusconi," said Renato Mannheimer, one of Italy's most prominent pollsters. Even if Berlusconi gets through the current crisis it remains to be seen if he can recover his former popularity and major progress on pressing tasks like cutting youth unemployment or boosting Italy's chronically sluggish
economy seem unlikely. "Berlusconi may resist, but just hanging on with a small and uncertain majority without being able to pass any meaningful reforms will make it inevitable that his support continues to fall," said Luigi Crespi, another pollster and political pundit. As well as the "Rubygate" affair, the premier faces three other fraud and corruption cases related to his Mediaset business empire in the coming weeks. But he has faced at least a dozen trials before and has been cleared, benefitted from amnesty or seen the charges expire every time. If he can make it through the current turbulence, he may yet be in office a year from now. "This is the worst moment for Berlusconi but it looks like he'll survive," said Ricolfi. "Towards the end the economy could be doing better and I think he'll decide he has a good chance of winning an election in the spring of next year". -Reuters
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SMEDA to frame hydel, pharma sectors development strategy PESHAWAR: Chief Executive Officer (CEO), Small and Medium Enterprises Development Authority (Smeda), Yusuf Naseem Khokhar Friday said that the authority in collaboration with business community would frame a strategy for the development of hydro power and pharma sectors. Talking to Sarhad Pharmaceutical Manufacturing Association here at Industrial Estate Peshawar during his maiden visit to the provincial metropolis, he said that the strategy prepared in consultation with stakeholders from public and private sector would be included in the action of the authority. The CEO Smeda was accompanied by General Manager Operations, Syed Iqbal Kidwai, provincial chief Smeda, Javed Iqbal Khattak, manager, Sarmad Hussein Khan and Ashfaq Afridi. The CEO Smeda during his one-day visit also formally inaugurated Women Business Development Centre (WBDC) established under the auspices of the authority for the promotion of women entrepreneurships in the province. The Smeda chief also held meeting with Industrialists Association of Peshawar, (IAP), Malik Niaz Ahmad Niaz exchanged views with them on the matters relating to development and promotion of SMEs in the province. He assured the office bearers of Pharmaceutical Manufacturers that interactions with the business community would be increased and their
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recommendations would also be implemented. However, he said that the goal of the promotion of the development would be achieved only with active collaboration. He expressed satisfaction over the performance and potential of pharma sector and assured further cooperation to the stakeholders of the sector in this regard. He said that in collaboration with the sector a strategy would be prepared for inclusion in the action plan of the authority. The Chief Executive Officer was very much impressed from the resolve of the provincial government of Khyber Pakhtunkhwa for the utilization of the potential of hydel power and directed the provincial team of the authority initiate efforts in this regard with the institutions of the provincial government. He said that the matter would be taken up with the provincial government through higher level and a formal strategy would be prepared in consultation with the business community. He further appreciated the courage and commitment of the business community of Khyber Pakhtunkhwa, which continued their businesses in difficult situation. He said that hydel and pharma sectors have been identified as potential sectors and all out efforts would be made for the development. He said that more potential sectors and areas would be identified through interactions with the business community.
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The visit will provide an opportunity to brief the Japanese leadership on our views on key international and regional issues as well as discuss ways and means to further expand bilateral political and economic ties. The visit will also reiterate the importance that Pakistan attaches to its relations with Japan. President's meeting with the Japanese businessmen will help project Pakistan as a destination for Japanese investment, he said. Japan is an important country of the East Asia Pacific region as well as one of the major trading partners of Pakistan. Pakistan and Japan enjoy very close and friendly relations. Japan has played an important role in the socio-economic development of Pakistan. Japan is a major development partner, and is extending assistance for development projects in health, education and human resource development areas. Japan has actively participated in the Friends of Democratic Pakistan Forum, and hosted the FODP Ministerial and Donors Conference in Tokyo in April 2009. It pledged $ 1 billion at the Donors Conference in Tokyo. It has also extended assistance for the internally dislocated persons affected in Swat and Malakand. Japan extended US $ 500 million assistance at the Pakistan Development Forum for the relief and rehabilitation of flood victims in Pakistan, statement issued by the Foreign office said. -APP
He said that Smeda will leave no stone unturned in the completion of the ongoing schemes and missing linkages in the promotion of entreprenuerships would be filled. He said that he will regularly visit the province. Earlier, provincial president, Sarhad Pharmaceutical Manufacturers Association, Riaz Arshad, Adeel Rauf and Ghulam Sarwar Khan Mohmand highlighted problems of the business community and also recommended certain resolutions in this regard. Briefing the CEO Smeda, Riaz Arshad said that a total of 75 pharma units have been established in the Khyber Pakhtunkhwa and 40 are situated in the Hayatabad Industrial Estate while very few are situated in other districts like Haripur, Nowshera, DI Khan and Swat. He said that during the recent insurgency and conflict except pharma all sectors had suffered. He said that the pharma sector has highest growth of 14 per cent with a 17 per cent share of the national companies. The sector is following the rules and regulations of the Ministry of Health and producing good quality products. He said that Smeda is facilitating different sectors and called for a strong role of the authority in the sector to fill the vacuum of exports. He said that quality of Pakistani pharma products have attraction for buyers in international market.-APP
Drugmakers could take hit under Obama budget WASHINGTON: Big pharmaceutical companies could face increased competition from generic drugmakers under two proposals put forth by the Obama administration on Monday. President Barack Obama, as part of his 2012 budget proposal, called for cutting the number of years drugmakers could exclusively market brandbrand namename biologic drugs to 7 years from 12. He also set his sights on ending controversial "pay-fordelay" deals that affect traditional, chemical drugs by giving the U.S. Federal Trade Commission power to block such pacts. In those type of deals, brand name and generic drugmakers settle patent challenges with payoffs that delay lower-cost rivals from reaching the market. The proposals face a tough challenge of getting through the dividedCongress, but could alter the landscape for consumers' access to cheaper medicines. Still, they are unlikely to deliver a huge overall blow to the $890 billion global drug industry in which companies such as Pfizer Inc and Merck & Co Inc can see at least $1 billion a year in revenue from just one blockbuster medicine. The Obama administration is turning to drugmakers to help squeeze out some savings to help reduce the deficit and cover other health initiatives such as the implementation of last year's healthcare overhaul. The two proposals aimed at getting cheaper, generic medicines to the U.S. market would together save about $11 billion over 10 years.-Reuters
ital market transactions will add depth to the local capital market and will provide shared ownership to both retail and institutional investors. The public offerings through Stock Exchanges and International listings (GDRs) will be done on case-to-case basis tailored to the circumstances of each enterprise. It is emphasized that only careful packaging, timing and sequencing can give best results. Where found expedient, the entity will be listed before adoption of the PPP privatisation mode to benefit, from amongst others, capital market price discovery mechanism.-NNI
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Similarly textile exports in January witnessed slight increase of 0.77 per cent as compared to the exports of December 2010. Textile exports in January 2011 were recorded at $1.183 billion as compared to the exports of $921.923 million in January 2010 and $1.174 billion in December 2010, the date revealed. Year 2011 has been declared the year of exports and the Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) have devised a comprehensive strategy to boost country's exports. The food group exports during the first seven months of the year increased by 12.95 percent exports of petroleum and coal group increased by 26.38 percent while the exports of other manufacture group went up by 7 percent. -APP
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BASEL: Swiss pharmaceutical company Roche CEO Severin Schwan addresses media as he attends the company's annual news conference in Basel.-Reuters
Sanofi to buy Genzyme for more than $20 billio PARIS: French drugmaker Sanofi-Aventis SA clinched its long-sought deal for Genzyme Corp with a sweetened $20.1 billion cash offer, plus payments tied to the success of the U.S. biotech group's drugs. The deal announced on Wednesday comes nine months after Sanofi Chief Executive Chris Viehbacher first put the idea to Genzyme's Henri Termeerand gives Sanofi a new platform in rare diseases. It is expected to boost Sanofi's earnings from the first year after completion, offsetting revenue losses from drugs facing generic competitors for the first time. The deal's announcement, which confirmed what sources with knowledge of the talks told Reuters on Tuesday, marks the second-biggest acquisition in biotech history after Roche's $46.8 billion purchase of Genentech in 2009. Sanofi will pay $74 a share in cash and offer a tradable contingent value right, or CVR, whose value will depend on Genzyme's experimental multiple sclerosis drug Lemtrada and production of two other medicines. It initially offered $69 per share in cash in August, but was rebuffed by Genzyme. The CVR runs through 2020 could pay as much as $14 per share, or $3.8 billion, if Lemtrada meets its most ambitious sales targets. Analysts expect the CVR will be highly discounted in the market when issued, given the risks tied to a new drug that has yet to be approved and the long time-frame. Genzyme shares rose 1.5 percent to $75.38 on Wednesday, suggesting Wall Street assumes a CVR value just over $2, said one investor. "There will be a lot of sellers of that CVR, which is going to trade
like an option," said JeanFrancois Comte, a portfolio manager at Paris-based hedge fund Lutetia Capital. "So there might be another arbitrage opportunity on the CVR in the next few days." Sanofi thinks the highest CVR payout is unlikely to be reached, but would welcome it nonetheless. "I told Henri, if we have to pay the last milestone I'll bring him the check personally and with his favorite wine to accompany that," Viehbacher said. "The CVR was an extremely important tool to bridge differences in value." At the same time, other big pharmaceutical makers could consider a CVR in future deals now it has become a cornerstone of a large acquisition likeGenzyme, helping to mitigate risk as they seek new revenue sources. "This will set a precedent for other large pharma companies to use CVRs more," said Jim Prutow, a partner in the healthcare practice at PRTM, a management consulting firm. "CVRs provide an excellent mechanism for deals to get done at a time it is becoming increasingly difficult to predict if you will get a drug approved or how it will perform commercially." LENGTHY STAND-OFF Wednesday's deal follows a lengthy stand-off between Viehbacher and Termeer, a Dutchman who has led the company for more than 25 years. He will resign as chairman and CEO of Genzyme when the transaction is completed. Genzyme was the first company to show that money could be made by making drugs for diseases with small patient populations. In 2010 it generated revenue of $4.1 billion, enough to replace roughly a third of the
sales Sanofi is expected to lose through 2013 to generic competition. Termeer was reluctant to sell the company that had come to define him, but had to placate investors after a manufacturing crisis caused a shortage of key Genzyme drugs. By May last year, the company's shares had fallen 46 percent from a high of nearly $84 in July 2008. Viehbacher said rare diseases represented a huge unmet need, with around 6,000 to 7,000 such disorders in the world for which there are treatments for only about 10 percent. "It is a huge area of opportunity," he said. Competition in the space is growing but Viehbacher said Genzyme's position was strong. "Genzyme is really the gold standard in patient-centric care and we believe the Genzyme brand will be able to protect that franchise," he said. Sanofi predicted the deal, which is expected to close early in the second quarter, would lift its underlying earnings by between 0.75 and 1.0 euro per share by 2013. Sanofi's shares rose 3.5 percent as investors welcomed the boost. Vincent Meunier, an analyst at Exane BNP Paribas, said the forecast of a 12 to 16 percent uplift to 2013 earnings was above his expectation of 10 percent, although the drugmaker gave no breakdown on how it would achieve savings. Genzyme, which posted a quarterly profit on Wednesday within its forecast range, said it would have to pay Sanofi a fee of $575 million if the deal was scrapped. Credit Suisse and Goldman Sachs advised Genzyme. Evercore Partnersand JPMorgan were Sanofi's lead advisers.Reuters
that the US combat role will end in 2014. Foreign Office in this issue," Qureshi said. The administration will begin assessing conditions for possible troop draw downs next month as further closer. He said that Pakistan was not only fighting its He said that he did not yearn to become complainant in Davis battle against extremism, but it was also fighting for a cause that case but expressed agreement to speak the truth before LHC if the it determines where Afghan security forces can take the lead. The top US and NATO commander in Afghanistan, Gen. David Petraeus, said last week that intelligence reports indicate Taliban leaders concerns the international community. court felt necessary. -Agencies are worried and that there is "friction and discord" between the guerrillas in the field and their leadHe said that in order to rid this region from the threat of extremership in Pakistan. Continued from page 1 No #7 ism and for ensuring peace of the world, Pakistan has offered Last year's troop surge, led by the United States, boosted the international fighting force in two Pakistani men he says were trying to rob him on Jan 27. huge sacrifices in terms of social and human losses. Afghanistan to about 150,000 troops. Nato and Afghan President Hamid Karzai hope to have more The US insists that Davis was acting in self-defense and qualiHe said that militancy and terrorism was the common enemy than 300,000 Afghan army and police in action by next autumn facing a much smaller organised and that the cooperation between the two countries must continue fies for diplomatic immunity because he worked for the embassy. insurgent force. to fight this war. He said provision of opportunities to the people, US officials are demanding Davis be released immediately. Last year was the deadliest of the nearly decade-long war for international troops, with more than Pakistani authorities have refused thus far to release Davis and especially in the areas worst hit by militancy, was essential in 700 killed. This compares to about 500 in 2009, previously the worst year of the war. Record numhave questioned his immunity status. order to wean away people from militancy. Clinton said Pakistan's public finances are in disarray and that bers of insurgents and civilians also have been killed. The President urged Warsi to use her influence for setting up Clinton also formally announced the appointment of retired veteran diplomat Marc Grossman to opportunity zones in the conflict ridden areas and pleading energy shortages are hampering economic growth and causing succeed the late Richard Holbrooke as the administration's special representative for Afghanistan Pakistan's case for enhanced and preferential trade access to the political instability there. and Pakistan. "Shocking, unjustified anti-Americanism will not resolve these markets of European Union countries so that our economy could The post had been occupied by Holbrooke's former deputy on a temporary basis since Holbrooke's be put back on track. This, the President said, would help address- problems," she said. Pakistan has a responsibility to ensure that the Afghan Taliban sudden death in December. ing the issues of poverty and unemployment in the tribal areas and The Davis case underscored the need for the administration to have a permanent point man to coorcannot continue to conduct the insurgency from Pakistan's territothereby wining the battle of hearts and minds. dinate the complex relationships between Washington, Kabul and Islamabad. The President also appreciated UK's development assistance to ry, Clinton said. Despite an urgent administration-arranged visit to Pakistan by Senate Foreign Relations "Pressure from the Pakistani side will help push the Taliban Pakistan's development plans and said that we greatly appreciate Committee chairman John Kerry, the situation remains unresolved with the Pakistani government in UK's Government sensitivity towards our tough economic situa- toward the negotiating table and away from al-Qaida," she said. a tight spot. Clinton issued a warning to the Taliban and other extremists in tion. If it releases Davis, it risks angering violent elements in its population - including the Taliban, who Sayeeda Warsi appreciated the efforts of the Government Afghanistan that they must choose between war and peace as the have threatened to attack any official involved in letting Davis go. The ruling party also risks further against militancy and reiterated British continued support to the U.S. increases military pressure on them. Clinton said reconciliation is the only way to ensure alienating voters already unhappy with its performance. -Online democratic dispensation in Pakistan. She said that UK would continue to support Pakistan in all possible manners to overcome Afghanistan's lasting stability and challenge extremists to abanContinued from page 8 No #8 don al Qaeda and to align themselves with the government for the challenges faced by the democratic Government. -Agencies of vacant posts of members FPSC. He also discussed budget related issues of the good of the country and their own safety. Continued from page 1 No #3 "They cannot wait us out," Clinton said. "They cannot defeat us. Commission. -Online continue with uninterrupted chain of supply and to pay Rs85 bil- And they cannot escape this choice." Continued from page 8 No #9 lion to the refineries and Rs43 billion to the international suppliThe US has increased military pressure on extremists and says While agreeing with the Prime Minister on the imperative of socioeconomic development which ers", the source said. The source said the total the company's total it has the Taliban on the run in key areas of the country. Heavy should have a direct effect on the people particularly in the backward areas, they assured him that receivables had swelled to Rs158. 65 billion, including Rs47.22 fighting is expected this spring, along with a continued heavy US will remain committed to play its part in the progress and prosperity of Pakistan and will delivbillion from Wapda, Rs73.29 billion from Hubco and Rs28.86 bil- reliance on unmanned drone attacks and secret ground raids tarer on its pledges for economic and security assistance. lion from Kapco. Moreover, the source said the company had a geting militant leaders along the Pakistan border. The US Congressional delegation included Senator Robert Corker, Senator Bernad Sanders, network of 3612 retail outlets, so it was oblivious to its responsi"The escalating pressure of our military campaign is sharpening Senator Joseph Manchin III, and Senator Christopher Coons. bilities and supplied furnace oil uninterruptedly to the power com- a similar decision for the Taliban: break ties with al Qaeda, give Minister of State for Foreign Affairs Hina Rabbani Khar, US Ambassador in Pakistan, Senator panies in the past. -APP up your arms, and abide by the Afghan Constitution and you can Syeda Sughra Imam, Secretaries Foreign Affairs, Defence and other senior officials were also presrejoin Afghan society," Clinton said. "Refuse and you will continContinued from page 1 No #4 ent in the meeting.-NNI ue to face the consequences of being tied to al Qaeda as an enemy (CCOP) on 3rd February, 2011:Continued from page 8 No #10 The privatisation policy of supporting capital market through of the international community." The United States plans to begin withdrawing troops from the Dr Muhammad Iqbal, Associate Professor of Psychiatry (BS-19) of Professor of Psychiatry (BSthe sequenced divestment of shares in SOEs through domestic and international stock exchanges. Divestment of SOE's through cap- country this summer, and President Barack Obama has promised 20), Jinnah Postgraduate Medical Centre (JPMC), Karachi. -Agencies
No #2
Continued from page 1
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US Congressional delegation calls on PM Gilani
Pak calls for US balance in SAsia ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani having a meeting with a US Congressional delegation led by Senator Robert Corker at PM House here on Saturday.-Online
PML-N 10-point Agenda
Sharif points finger at Zardari for failure LAHORE: Pakistan Muslim LeagueNawaz (PML-N) chief, Nawaz Sharif, here on Saturday blamed President Asif Ali Zardari for failing his efforts to achieve national reconciliation and to eradicate the people's problems, media reported. "We fully supported the government to alleviate poverty, load-shedding, inflation and other critical issues, but Zardari failed all our efforts," said Nawaz while speaking to a party workers' meeting. He said that he will support a principles stance regarding the Raymond Davis case because Pakistan's sovereignty takes precedence over everything else. Nawaz said that the PML-N's sincerity on national issues must not be considered its weakness. He said the party proposed a 10-point reforms
WC 2011:
India beat Bangladesh by 87 runs DHAKA: Opener Virender Sehwag ignored an injury to smash 175 and set up a massive 87-run win for India in the opening match of the World Cup against co-hosts Bangladesh on Saturday. Out for revenge over Bangladesh for India's fivewicket defeat in the previous World Cup which helped lead to their first stage exit, Sehwag hit his highest oneday score off 140 balls, leading India to 370-4. Chasing the improbable target of nearly seven-andhalf runs in an over, Bangladesh ended their 50over on 283-9 which is still their highest total in a World Cup match in their fourth tournament. Pace bowler Munaf Patel gave India's depleted pace attack, which suffered another blow ahead of the game with Ashish Nehra missing out following reports of a back injury, a boost by claiming four wickets for 48 runs in the win. Tamim Iqbal and Shakib Al Hasan made 70 and 55 runs respectively but after they departed Bangladesh were unable to even approach the formidable and ever increasing asking rate. Man-of-the-match Sehwag, blasting his second World Cup century, made Bangladesh skipper Shakib bitterly regret his decision to bowl first on a placid wicket with 14 fours and five sixes. He added 203 runs with Virat Kohli for the third wicket with the latter also completing a century in the final over. He finished on 100 not out off 83 balls in his World Cup debut. Sehwag needed a runner after reaching three figures having hurt his left knee while trying to push Rubel Hossain for a single in the 38th over of India's innings.Reuters
agenda to eradicate the common man's issues but the government disappointed everyone on that front as well. Pertaining to 10-point interim agenda, Nawaz Sharif was of the view we ensured our utmost support to PPP to curb on load shedding, poverty, and inflation, but President Zardari turned our all efforts fruitless. "We presented the 10-point agenda in the best national interest, but federal government and President Zardari in particular let down on all of their pledges committed with us in a single move", Nawaz Sharif said. While talking about the veteran politicians of the party, he said those who faced hardships of dictatorship, are party asset. He vowed to give them their deserving status in the party. -Online
Four officers promoted to BS-20 ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has approved the recommendations of the Central Selection Board for promotion of the officers belonging to the services group. Dr Seemin Jamali, Deputy Executive Director (BS-19) to Joint Executive Director (BS20), Jinnah Postgraduate Medical Centre (JPMC), Karachi. Dr Nasir Zaman Khan, Associate Professor of Plastic Surgery (BS-19) to Professor of Plastic Surgery (BS-20), Jinnah Postgraduate Medical Centre (JPMC), Karachi. Dr Manohar Lal, Associate Professor (Renal Medicines) (BS-19) to Professor of Renal Medicines (BS-20), Jinnah Postgraduate Medical Centre (JPMC), Karachi. See # 10 Page 7
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has called on the US to ensure a balanced approach in the South Asian Region particularly between Pakistan and India without any discrimination as that will greatly help build the US image and its perception amongst the people of Pakistan. Prime Minister was talking to US Congressional delegation led by Senator Robert Corker who called on him at the PM House on Saturday. Prime Minister recalled that at the advent of Obama administration, former President Bill Clinton was to be considered for appointment as special envoy to help resolve the festering Kashmir dispute between Pakistan and India, but the people of Pakistan were disappointed when this idea was dropped and Pakistan was instead clubbed with Afghanistan under the AfPak Policy. Prime Minister welcomed the positive messaging emanating from both sides since last week and emphasized that these should continue and go beyond Raymond Davis incident in order to build upon the strategic partnership as well as the trust and confidence between the two countries. Prime Minister noted that the USA's projects funded under the KLB assistance were now at the implementation stage and this momentum has to be accelerated. The KLB assistance, he added, should focus on the major projects having a positive impact on the lives and livelihood of the people of Pakistan. He also stressed that the good work done in the past three years should
Public institutions autonomy assured ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has said that the government has provided complete autonomy to the public institutions to ensure merit, transparency and service delivery which is a precondition for good governance. Prime Minister expressed these views during a meeting with the Chairman of the Federal Public Service Commission Justice (Retd) Rana Bhagwan Das and Secretary Establishment who called on him at the PM House Saturday afternoon. He further said that it is for the first time in history that the Government has not interfered in the promotion process and he promoted only those officers who were recommended by the Central Selection Board. Prime Minister appreciated the Chairman of the FPSC for upholding merit. He assured his Government's complete support to further empower FPSC to play its due role in the selection of capable civil servants. The Chairman thanked the Prime Minister for his Government's full support to the FPSC. He discussed matters regarding filling See # 8 Page 7 The US Senators termed Pakistan as foster the bilateral ties in multifaceted fields under the sectoral one of the greatest nations which was arrangements of strategic partnership. playing enormous role in the frontline These strong ties, he said, must not of war against terror. They acknowledged the great sacribe affected by any single incident and both USA and Pakistan through their fices which Pakistan had made despite intensified and concerted efforts its own difficulties for the safety and should aim for taking these important security of the world at large. They agreed with the Prime Minister bilateral relations to a higher level. While dilating upon Pakistan's that positive messaging would help unmatched sacrifices in human and establish trust and confidence between economic terms in the war against ter- the two countries and no single inciror, the Prime Minister reiterated his dent should make the strong bilateral government's resolve to remain relations hostage. They appreciated Prime Minister's focused on the mutually shared objectives of defeating the terrorists and role and personal investment in norextremists as well as restoration of malization of his country's relations with its neighbors and his political peace and stability in Afghanistan. He hoped that the US side would acumen to build the national consenalso remain focused on these cher- sus in true spirit of democratic ished objectives and would not allow norms. See # 9 Page 7 any irritant to distract from them.
Govt crackdown on ‘hawala’ system soon KARACHI: In order to curb the illegal business of transferring foreign exchange through Hawala system, the government had started seizing the money that would stand transferred to the State, federal interior minister Rehman Malik said on Saturday. Speaking at the opening ceremony of National Crisis Management Cell at Karachi Chamber of Commerce & Industry, he said, we have collected the data of those involved in this illegal trade and the amounts being transferred from different countries. The government would not allow Hawala trade to continue and any amount came through it, would be seized, he warned. 'We would support only those who are in possession of license for doing the business,' said Malik.
Malik further said the government would soon make public the amounts it had seized. Most of the amounts being transferred illegally to Pakistan are from Middle Eastern countries, he added. Talking about the security of foreign investors, interior minister said he discussed to establish a separate counter at the airport to receive the foreign investors with full protocol and treat them as VIPs. About the Crisis Management Cell, Malik said he was inaugurating it on behalf of MQM chief Altaf Hussain as it was his idea. This Cell would receive the complaints of businessmen from all over the city with regard to extortion, kidnapping, harassment and other crimes and take swift action. -Agencies
Dream to arrest Mush not to materialise: spokesman
Musharraf arrest warrant reissued RAWALPINDI: Anti-terrorism court on Saturday reissued an arrest warrant for former President Pervez Musharraf over the assassination of ex-Prime Minister Benazir Bhutto. Hearing of the case was held in Adiala Jail Rawalpindi before the Judge Rana Nisar Ahmed of Anti Terrorism court Rawalpindi Division on Saturday. During the course of the hearing special prosecutor Ch Zulfiqar presented FIA report before the court regarding the arrest warrant of former President Musharraf. He told the court that the arrest warrants issued for the former president last week could not be served as they were sent to his Farm House in Islamabad and we were told by House servants that he does not live here and lives in London. On this the court reissued the arrest warrant and sought the London address of the former President and directed that the warrants be served on both addresses. During the hearing the defense lawyers of CCPO Saud Aziz and former SP Rawal Town told the court that they were unable to get copies of complete indictment therefore their clients cannot be indicted. On this the court ordered that the defense lawyers be provided all documents along with interim indictment.
Later the hearing was adjourned till March 5. The former President and military ruler Pervez Musharraf is alleged to have been part of a "broad conspiracy" to have his political rival killed before elections, though the exact nature of the charges against him is not clear. Meanwhile, spokesman to former President Pervez Musharraf Barrister Muhammad Ali Saif said that we issuing of arrest warrant of former President Pervez Musharraf is just another drama and the dreams of judges to arrest Musharraf would not be allowed to come true at any cost. Talking to private TV channel here on Saturday Spokesman to former President Pervez Musharraf Barrister Muhammad Ali Saif said that we are not bother whether the arrest warrant of Pervez Musharraf are bail able or non bail able. He said that FIA is telling a lie that they came to know that Musharraf is abroad when they reached at his (Musharraf) house in Chak Shahzad with his arrest warrants. He said that they are fully aware that Pervez Musharraf is out of country. He said that judges are issuing arrest warrants of Pervez Musharraf without reading the challan but their dream of arresting Pervez Musharraf would not be allowed to come true. -Agencies
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