Pakistan’s mobile subscriber base totals 91Mn at February’09-end: Wireless Federation

The Pakistan mobile subscriber base has raised to 91.008 million in February 2009, growing from 90.703 million in January, reports PTA. Mobile density in Pakistan hiked to 56.50%, up from 56.30% in January.

Mobilink, the market leader, saw a drop in mobile subscriber base which fell from 28.315 million to 28.116 million whereas Telenor jumped to the second position with a subscriber base of 19.842 million, up from 19.657 million in January.

For more on this article, please click on the following link: Pakistan’s mobile subscriber base totals 91Mn at February’09-end: Wireless Federation

Pakistan’s ‘quiet man’: Pakistan Observer

Shumaila Raja

Who is General Ashfaq Parvez Kayani? He is being discussed everywhere, in the media, public meetings and drawing room sittings. Analysts and TV anchors are discussing his personality at national and international level. Gen Kayani enjoys the repute of a gentleman who thinks like a scholar and acts like a soldier. He is held in high esteems in Euro-American circles, Peoples Republic of China and the Middle Eastern armies. His photograph had been added to the US Army International Hall of Fame – the fourth Pakistan Army General to have attained this honour.

The 2008 Time’s 100, while listing General Kayani the 20th amongst hundred most influential leaders and revolutionaries in the world, wrote: “…Kayani showed that his loyalty lay with the nation, soldiers, friends, diplomats and politicians all extol his reasoned thinking and tempered judgment.” BBC News in a report on November 27, 2007 titled “The Rise of Pakistan’s Quiet Man” wrote: “…[Gen. Kayani] noted for his patience, diligence, intelligence and sheer determination…has ability to keep a low profile when necessary while also being able to take decisive action when it’s needed... has a “can-do” image as a man who gets things done”. A New York Times report noted that “[Gen. Kayani] received high praise from the US for his military prowess and his commitment to disentangle the army from domestic politics.”

When he took over the image of the armed forces was at its lowest ever level. The forces were being targeted by the militants and assailed by the general public, thanks to the prolonged rule of Gen. Musharraf who badly failed in curbing the war against terror and maintain law and order situation, besides controlling the commodity item and household goods’ prices. The challenges for Gen. Kayani were enormous – both at home and external fronts. But today we see Pakistan’s Armed Forces stand absolved. Gen. Kayani stood guard to the tests of time, to the challenge emanated from the recent political crises pre and post-Long March.

The armed forces contribution has been exemplary during the last 62 years. They have set high standards of command, bravery, dedication, commitment, discipline – and above all professionalism which has acquired this exalted place for the army. He attaches great importance to make the army one of the best in the world and equip its officers and men with necessary wherewithal required by a modern soldier. That’s why he declared the year 2008 as “the Year of the Soldier”, and the year 2009 as “the Year of Training”. There is no doubt that our soldier’s contribution in the ongoing war against terror is enormous and unprecedented. He has set high standards of bravery, gallantry and valor. The General made a point to visit them in operational areas and award them for their gallantry deeds. In this ongoing year, he is especially concentrating on the soldier’s training and professionalism.

For more on this article, please click on the following link: Pakistan’s ‘quiet man’: Pakistan Observer

Reinstated, Chief Justice Bears Hopes of Pakistan: New York Times

ISLAMABAD, Pakistan — At a Supreme Court hearing on Thursday in a property dispute, the defendant, Gul Zameen, insisted that Chief Justice Iftikhar Muhammad Chaudhry personally take his case rather than assign it to other justices, as his opponent requested.

“Please, I want you to hear the case,” said Mr. Zameen, 55, who has been fighting over a house in North-West Frontier Province since 1991.

Much to his relief, Mr. Chaudhry agreed.

“We hope he will do justice,” Mr. Zameen’s son, Shahid Rafiq, said later. “Not only with us but with everybody.”

Since returning to the bench last week for the first time since he was ousted two years ago by Pervez Musharraf, then Pakistan’s president, Mr. Chaudhry has faced a groundswell of expectations from people like Mr. Zameen and from the politicians and lawyers who struggled to get him reinstated. Just as his ouster became a national symbol of political interference in the judiciary, millions of Pakistanis have invested his return with hopes that he will set every injustice right.

“Many people saw him as a savior, and he is a savior for them, even though the lawyers’ movement was essentially aimed at upholding the rule of law,” said Babar Sattar, a constitutional lawyer, who warned that such unrealistic hopes were bound to produce disappointments. “Some expectations will be frustrated, as a lot of different people have different expectations.”

For more on this article, please click on the following link: Reinstated, Chief Justice Bears Hopes of Pakistan: New York Times

Pakistan’s exports to US dwindle owing to gas shortage: Daily Times

By Tanveer Ahmed

KARACHI: Pakistan lost considerable share of its export to United States of America (USA) during the current financial year owing to host of reasons, sources in the export sector told Daily Times.

Textile and clothing was the main sector, which lost its share in the USA market as according to exporters and officials, the share of export to USA fell below 20 percent in total export volume compared to 22 to 24 percent in the previous years.

The sliding export to USA market has been causing concerns in the export sector of the country for quite some time as high cost of production coupled with high tariff structure on Pakistani export has been depriving the country from this high priced and lucrative American market.

However, the report of USA chamber of commerce a couple of days to ease the tariff slabs and provide greater market access to Pakistani exports has been seen as an encouraging move, which if implemented would definitely help Pakistan to regain its lost share in this market.

Although, global economic recession, which hurt USA severely contributed in dwindling Pakistani export to this market, other factors too made the situation tough for the local exports.

For more on this article, please click on the following link: Pakistan’s exports to US dwindle owing to gas shortage: Daily Times

$200 Million Fund Set Up for Distressed Pakistan Projects: Khaleej Times

Muzaffar Rizvi

28 March 2009

DUBAI - NBD Sana Capital, a private equity firm, is setting up a $200 million fund to invest in troubled industrial units and farming projects in Pakistan, a senior Pak government official said. The fund would takeover the distressed projects mainly in textile industry, agriculture and dairy farming sectors and put them back on track by injecting ‘sufficient capital’, Dr Mirza Ikhtiar Baig, chairman of the Pak-UAE Business Council, said after concluding the meetings with major UAE business groups and the government officials. “We have identified some model projects under this head and a technical team from the UAE will be visiting Pakistan to set the modalities,” Dr Baig told Khaleej Times on Friday. Elaborating, Dr Baig said some textile units in Pakistan need cash injection and running finance for value addition and capacity boost and this fund will also invest in such projects. “Initially, we have short-listed Pak Denim, Siddique Sons and some other firms from renewable energy sector,” Baig, who was heading a 35-member Pak business delegation, said. NBD Sana Capital is a private equity firm that invests in some of the world’s fastest growth markets of the Middle East, North Africa, Turkey and South Asia. Dr Baig, who is also an advisor to President of Pakistan, further said Dubai Export Development Corporation, or EDC, would offer export credit insurance guarantee to Pakistani exporters. “The EDC initiative offering up to 90 per cent of credit insurance, will help Pak exporters to cover the risk and strike more business deals in coming days,” he said. Dr Baig, who is also a Chairman of Baig Group, said talks on free trade agreement between Pakistan and Gulf Cooperation Council states are at ‘advance stage’ and the process will be accelerated to conclude the deal in near future. He said the UAE government has shown its interests to invest in Pakistan’s agriculture and water sector to ensure food security.

For more on this article, please click on the following link: $200 Million Fund Set Up for Distressed Pakistan Projects: Khaleej Times

Govt plans to sell stakes in 3 companies this year: Qamar: Daily Times

ISLAMABAD: Pakistan plans to sell stakes in at least three companies by the end of June, reviving an asset sale programme stymied by political instability and a slowing economy. "This will be the start of our programme with a new concept of modernising companies with efficient management rather than a fund-raising target," Privatisation Minister Naveed Qamar said in an interview.

Ministry officials will meet potential buyers for National Power Construction Co. (NPCC) on March 28 to set a bidding date as early as next month, he said. Stakes in Jamshoro Power Co. (JPC) and Heavy Electrical Complex (HEC) may be sold by June 30, Qamar said.

Funds raised from asset sales fell by a quarter last year as political wrangling and terrorist attacks in the nation's biggest cities deterred overseas investors. Pakistan yesterday said it would seek $10 billion in funds over the next three years for development projects after securing a $7.6 billion bailout from the International Monetary Fund to avert default.

Since the start of this fiscal year on July 1, Qamar has completed only one transaction, raising Rs 1.34 billion ($16 million) by selling a stake in Hazara Phosphate Fertilizers Ltd., a urea maker. That compares with the previous government of former President Pervez Musharraf raising Rs 25.5 billion in a year through stakes in Habib Bank Ltd. and United Bank Ltd.

For more on this article, please click on the following link: Govt plans to sell stakes in 3 companies this year: Qamar: Daily Times

Drone Attacks Are Violation Of Pakistan’s Sovereignty: FO: Online News

ISLAMABAD: Pakistan condemning the drone attacks on its territory has termed them counterproductive and violation of country’s sovereignty.

Foreign Office spokesman in response to a question said, "drone attacks on our territory are a violation of Pakistan’s sovereignty and definitely counter-productive. It is important that US Administration factors this in its operational policy.

For more on this article, please click on the following link: Drone Attacks Are Violation Of Pakistan’s Sovereignty: FO: Online News

Gold import falls by 77 percent in Pakistan: Pakistan Times

KARACHI: Gold imports in the country has almost come to end, following persistent gold price hikes in the global markets, while the February imports of gold as compared to January recorded a fall by 77 percent.

All Sindh Sarraf Jewellers Association (ASSJA) Sindh president, Haroon Rashid Chand said that 10 kilogrammes of gold worth Rs25 million was imported in February 2009 as against 43 kilogrammes in January 2009, which was valued at Rs96 million.

According to available data, the February 2009 gold import as compared to February 2008 imports of 164 kilogrammes showed a decline of 90 percent.

He said that gold imports in the first eight months of the current fiscal year falling by 29 percent aggregated to 480 kilogrammes valued at $1.08 billion, while in the same period previous year it was 672 kilogrammes valued $89.8 million.

For more on this article, please click on the following link: Gold import falls by 77 percent in Pakistan: Pakistan Times

Pakistanis estimated to have investments worth Rs.190 billion in UAE estate sector: APP

DUBAI, UAE, March 28 (APP) ‑ Pakistani businessmen have invested about Rs. 190 billion or more than 8.7 billion dirhams in the real estate sector of United Arab Emirates (UAE).

This was stated by the president of Pak UAE Business Council Dubai Iskandar Sultan while welcoming the visiting delegation of FPCCI here at a dinner on Friday.

Pakistani Ambassador in UAE Khursheed Junejo and leading Pakistani businessmen in the Emirates were also present on the occasion.

He said that Pakistan has become the top third investor in the UAE real estate sector.

He said that more than 6000 Pakistani companies were operating in the Emirates and was greatly contributing to its booming economy.

Leader of the Pakistani delegation Dr. Mirza Ikhtiar Baig on the occasion invited Pakistani companies to invest in Pakistan’s agriculture, dairy farming, energy, telecommunication sectors alongwith textile city and other projects that offer high return on investment.

Earlier, in the day, Pakistani delegation visited Sharjah Chamber of Commerce and Industry and invited investment from UAE businessmen in infrastructure, alternate energy and agriculture.

For more on this article, please click on the following link: Pakistanis estimated to have investments worth Rs.190 billion in UAE estate sector: APP

Russia to help Pakistan build N-power plants: The Nation

By: Maqbool Malik | Published: March 28, 2009

ISLAMABAD - The Russian Federation and Peoples Republic of China have decided to bail out Pakistan from the constraints, relating to establishing the new nuclear power plants, for meeting the country’s pressing energy needs.

TheNation has learnt reliably from diplomatic sources that Moscow and Beijing have decided to offer its cooperation to Islamabad in setting up new nuclear power plants to meet Pakistan’s growing energy needs. The sources also said that Russia-China offer contains the conditions that the nuclear power plants, offered to Pakistan, should be set up under the supervision and in collaboration with International Atomic Energy Agency (IAEA).

For more on this article, please click on the following link: Russia to help Pakistan build N-power plants: The Nation

Current account deficit narrows 14pc: The News

KARACHI: Pakistan’s current account deficit narrowed by 13.7 per cent between July and February 2008-09 over the same period of previous year after improvement in trade balance and overseas Pakistanis sent home more remittances.

In the first eight months of the current fiscal year, the deficit in current account balance shrank to $7.45 billion from $8.64bn in the same period of 2007-08, showed the State Bank of Pakistan’s data released on Wednesday.

Trade deficit came down to $8.8bn from $9.2bn as exports slightly improved while falling international commodity prices slowed import growth, it revealed.

A freefall in international prices of commodities like crude oil and edible oil, which Pakistan heavily imports, has helped improve a worsening trade balance, one of the reasons which compelled the country to seek International Monetary Fund’s loan to avert a balance of payments crisis.

Exports between July and Feb 2008-09 totalled $13bn against $12.4bn recorded in the corresponding period of previous year. In the same period, imports were $21.8bn against previous $21.7bn.

Even though imports are a little higher, their growth has been substantially controlled when compared with the first July-Sept quarter of 2008-09. Trade deficit almost doubled to $4.1bn in the first quarter compared to previous year’s $2.3bn.

Another factor which greatly contributed to improving the current account deficit was workers’ remittances, which went up to $4.9bn from $4.1bn in eight months.

For more on this article, please click on the following link: Current account deficit narrows 14pc: The News

Best Countries for Business: Forbes

Rank-previous year 83 GDP Growth 4.7% GDP/Capita $2,600 Trade Balance -3.2% Population 172.8 mil Federal Budget Balance as % of GDP -2.2% For more on this article, please click on the following link: Best Countries for Business: Forbes

Rank vs. 2008 Trade Freedom 108 Monetary Freedom 87 Property Rights 88 Innovation 77 Technology 94 Red Tape 68 Investor Protection 48 Corruption 105 Personal Freedom 107 Corporate Tax Rate 85

Pakistan economic indicators - March 19: Reuters

Floating Interbank Rate (Rs/$) 80.41/80.51 80.30/80.37

Rupee/US $ (kerb market) 80.20/80.50 80.20/80.50

Karachi 100-share index 6,266.00 6,138.53

Gold (Karachi) Rs/10 gm n/a 23,960

======CENTRAL BANK AUCTIONS======

Treasury Bills Auction Results:

Cut-off Yield (pct) at auction on: Mar 11 Feb 25

Three-months bills 11.6908 12.6091

Six-month bills 11,7845 12.9828

12-months bills 11,8518 13,0044

Pakistan Investment Bond (PIB) Auction Results:

Cut-off Yield (pct) at auction on: Feb 18 (2009) Aug 29 (2008)

11.25 pct coupon, three-Year PIB 13.9530 13.6973

11.50 pct coupon, five-Year PIB 14.3692 B/Rejected

11.75 pct coupon, seven-year PIB 14.7973 14.3398

12.00 pct coupon, 10-Year PIB 14.9444 14.5493

12.50 pct coupon, 15-Year PIB 15.4995 14.7500

13.00 pct coupon, 20-Year PIB 15.8998 No B/Received

13.75 Pct coupon, 30-Year PIB 16.4496 14.9384

======WEEKLY INDICATORS======

Week ending Mar 07 Feb 28

Total liquid frx reserves $10.052 bln $10.138 bln

Forex held by central bank $ 6.613 bln $ 6.687 bln

Forex held by other banks $ 3.439 bln $ 3.451 bln

For more on this article, please click on the following link: Pakistan economic indicators - March 19: Reuters

Japan allocates Rs. 360 m for scholarships to students in Pakistan: APP

KARACHI, March 19 (APP)‑ Japan has allocated a sum of Rs. 360 million for the higher education scholarships for the students in Pakistan.

This was stated by the Consul General of Japan in Karachi, Akinori Wada.

He was awarding Japanese scholarships to 19 brilliant students of the Mohammad Ali Jinnah University.

A ceremony to this effect was held here on Thursday at the premises of the institution.

On the occasion, Akinori Wada distributed scholarships to the amount of Rs. 11 among the students of the Mohammad Ali Jinnah University.

Speaking on the occasion, he congratulated the students who got the scholarships.

The Consul General pointed out that Japan always cooperated in the field of education, health and development in the world.

For more on this article, please click on the following link: Japan allocates Rs. 360 m for scholarships to students in Pakistan: APP

WB ranks Pakistan first in corporate governance: Daily Times

ISLAMABAD: World Bank Report “Getting Finance in South Asia 2009” has ranked Pakistan first in the areas of corporate governance, performance and efficiency.

In the area of access to finance, Sri Lanka ranks first in South Asia, on capital market development and market concentration and competitiveness in the banking sector first slot is grabbed by India.

According to the detailed report on Pakistan the bond market is developing at a lesser pace. The domestic bond outstanding was 25.16 percent of the GDP, equivalent to $32.41 billion. This consists of mainly government bonds, as the corporate market is yet to develop.

The areas on which Pakistan needs to focus are access to finance capital market development, and market concentration.

Access to Finance: Pakistan needs to focus on improving financial outreach through its commercial banking sector. Demographic branch penetration is low with around five bank branches per 100,000 people during the six-year period. To promote branch openings in rural areas, the SBP has introduced the Annual Branch Licensing Policy, which requires commercial banks with 100 branches or more to open at least 20 percent of their branches outside big cities and set up branches in Tehsil Headquarters, where no branch of any bank exists.

For more on this article, please click on the following link: WB ranks Pakistan first in corporate governance: Daily Times

Pakistan records c/a surplus of $146 mln in Feb: Reuters

KARACHI (Reuters) - Pakistan's current account recorded a surprise surplus of $146 million in February which analysts attributed to lower global commodity prices.

The current account was last in surplus in June 2007.

"The number for February as a current account surplus is a positive surprise," said Asif Qureshi, head of research at Invisor Securities Ltd.

"It manifests reducing external account pressures due to a combination of restrictive demand management policies and lower international commodity prices."

The current account deficit for January was $279 million, the State Bank of Pakistan said.

For more on this article, please click on the following link: Pakistan records c/a surplus of $146 mln in Feb: Reuters

Eni to double Pakistan output in 5-6 years: Reuters

MILAN, March 18 (Reuters) - Italian oil and gas group Eni (ENI.MI) aims to double its oil and gas production in Pakistan over the next five to six years from the 56,000 barrels of oil equivalent in 2008, Chief Executive Paolo Scaroni said.

Speaking to reporters on a conference call on Wednesday, Scaroni said offshore oil and gas opportunities in Pakistan were "very promising", adding the group had "ambitious objectives".

The first offshore well in the region will be drilled in 2010, he said.

Eni said earlier on Wednesday it had signed a protocol for cooperation with Pakistan's government to develop oil and gas projects in the country.

Eni will invest around $50-70 million per year over the next few years in exploration in the country and another $50-70 million for development, Scaroni said.

For more on this article, please click on the following link: Eni to double Pakistan output in 5-6 years: Reuters

Pakistan to raise $500m through ME bonds: Daily Times

KARACHI: Pakistan plans to raise $500 million over the next year through bonds aimed at Middle East investors, State Bank Governor Syed Salim Raza has said.

“The credit-default swap rate for Pakistan is still high so to go to cold-nosed commercial markets wouldn’t suit us,” Raza told Bloomberg.

“The state of global financial markets will decide whether Pakistan can tap them for a bond issue, but currently it looks very difficult,” said Farid Khan, director at Credit Suisse Pakistan in Karachi. “Indonesia [rated four levels above Pakistan] has just raised $3 billion at a prohibitive cost of 840 basis points [dpouble the premium it paid in June] over US Treasuries and Pakistan’s pricing will be worse.”

But, Middle East investors too may be reluctant to buy Pakistan debt as their economies slow amid lower crude oil prices.

The economy of the Gulf Cooperation Council is forecast to contract by 2.4 percent in 2009, after expanding 5.2 percent in 2008, according to a report by the Kuwait-based Global Investment House.

“It would be tough to find buyers given the political crisis there and the credit crisis around the world, including in the Gulf region,” said Krishna Iyer Mohan, head of treasury at Safat-based Kuwait Financial Center, the nation’s second- largest investment bank that manages $5.5 billion of assets. “It’s not just the returns that investors look for, it’s the safety and liquidity of the assets that’s most important in this environment.”

Pakistan’s government debt is the riskiest in the world after Argentina and the Ukraine, according to credit-default swap prices from CMA Datavision. It costs $2.3 million annually to protect $10 million of the country’s debt from default for five years.

For more on this article, please click on the following link: Pakistan to raise $500m through ME bonds: Daily Times

Pakistan 'to pocket 2.75 mln dlrs from Trophy': AFP

LAHORE, Pakistan (AFP) — Pakistan will still pocket 2.75 million dollars from the Champions Trophy despite the event being shifted to South Africa for security reasons, a top cricket official said here Tuesday.

South Africa was approved on Monday as the new host of the biennial tournament in September-October by the board of International Cricket Council (ICC) after the decision last month to take it out of troubled Pakistan.

However the ICC board decided that Pakistan will keep the hosting rights, ensuring a significant windfall for the Pakistan Cricket Board (PCB), the sport's governing body here.

"The decision of giving the Champions Trophy to South Africa hasn't changed the picture," PCB chief operating officer Salim Altaf told reporters in Lahore.

"If the ICC gives South Africa financial assistance, it would still have no impact on the PCB's share, which is 2.75 million dollars."

For more on this article, please click on the following link: Pakistan 'to pocket 2.75 mln dlrs from Trophy': AFP

UK writer’s book on PAF’s history launched in Capital: Daily Times

* Pictorial ‘The Pakistan Air Force 1998-2008: A New Dawn’ highlights achievements

Staff Report

ISLAMABAD: Pakistan Air Force (PAF) on Tuesday launched a book titled ‘The Pakistan Air Force 1998-2008: A New Dawn’, authored by UK-based journalist Alan Warnes, at PAF Complex, Air Headquarters.

A large number of PAF officials, foreigners and diplomats attended the book launch ceremony, outgoing Chief of the Air Staff Air Chief Marshal Tanvir Mahmood Ahmed being chief guest.

This is a pictorial book, highlighting achievements of PAF. The author and photographer Alan Warnes captured different fighter jets on camera. Different photographs were taken during Kargil war and others showed the age of counterterrorism (2001-2008), women in PAF, different air bases, monouvering aircrafts etc.

Speaking on the occasion, Air Chief Marshal Tanvir Ahmed said launch of the book was an idea of Air Commodore Sarfraz and the author. “It’s a wonderful job done by Alan. I’m going home and will definitely thoroughly go through this book,” he said.

“For common man, this book got to be a colourful and interesting because all photographs tell you everything in a flash of time,” Ahmed said.

For more on this article, please click on the following link: UK writer’s book on PAF’s history launched in Capital: Daily Times

Pentagon plans blimp to spy from new heights: LAT

The giant dirigible would use radar to closely and constantly monitor activity on the ground from 65,000 feet.

By Julian E. Barnes
March 13, 2009

Reporting from Washington -- The Pentagon said Thursday that it intends to spend $400 million to develop a giant dirigible that will float 65,000 feet above the Earth for 10 years, providing unblinking and intricate radar surveillance of the vehicles, planes and even people below.

"It is absolutely revolutionary," Werner J.A. Dahm, chief scientist for the Air Force, said of the proposed unmanned airship -- describing it as a cross between a satellite and a spy plane.

The 450-foot-long craft would give the U.S. military a better understanding of an adversary's movements, habits and tactics, officials said. And the ability to constantly monitor small movements in a wide area -- the Afghanistan- Pakistan border, for example -- would dramatically improve military intelligence.

"It is constant surveillance, uninterrupted," Dahm said. "When you only have a short-time view -- whether it is a few hours or a few days -- that is not enough to put the picture together."

For more on this article, please click on the following link: Pentagon plans blimp to spy from new heights: LAT

Time to quit Afghanistan: Edmonton Sun

PM acknowledges a war can't be won, so what are Canadian troops still doing there?

By ERIC MARGOLIS

It's taken far too long for Prime Minister Stephen Harper to finally admit the war in Afghanistan cannot be won. Better late than never. Kudos to Harper for facing facts and telling Canadians the truth.

If the war can't be won, why risk lives of Canadian troops for nothing? Why stay in harm's way a day longer when the writing is on the wall in Afghanistan? President Barack Obama, who is sending 30,000 more troops to Afghanistan, ought to be asking himself the same questions.

We must think hard about waging an increasingly bloody war against lightly-armed mountain tribesmen who face the 24/7 lethal fury of the U.S. air force's heavy bombers, strike aircraft, helicopter and AC-130 Spectre gunships, killer drones and heavy artillery. Do we really want a test of wills against men who have the courage to endure cluster bombs with thousands of sharp fragments, white phosphorus that burns through flesh to the bone, fuel/air explosives that burst the lungs and tear apart bodies? Will Canada's use of Soviet helicopters and Israeli drones win Afghan hearts and minds?

Our propaganda brands these Pashtun tribesmen as "Taliban terrorists." They call themselves warriors fighting occupation by the western powers and their local Communist, Tajik and Uzbek allies.

Al-Qaida's few hundred members long ago vanished.

Fatuous claims we occupy Afghanistan to protect women are belied by the continued plight of Afghan females under western rule. A British report just concluded 100,000 Indian women are burned alive each year for their dowries. Will we now send troops to India?

Only the first step

Admitting the U.S. and NATO cannot bludgeon the Afghan resistance into submission is only the first step. If the war can't be won, then Canadian soldiers should remain in their bases, stop aggressive patrolling and cease attacks on Taliban supporters and civilians. Other NATO members are doing so.

The next step is to understand that wars are waged for political objectives, not simply to kill your enemies.

The U.S.-led forces in Afghanistan have no coherent political objectives. The U.S.-installed Karzai regime in Kabul has no political legitimacy and commands no respect or loyalty. It is engulfed by corruption and massive drug dealing. The Obama administration is casting about for a new puppet, but so far can't find one who could do any better.....

For more on this article, please click on the following link: Time to quit Afghanistan: Edmonton Sun

Army chief tries to defuse Pakistan crisis: FT

By Farhan Bokhari in Islamabad

General Ashfaq Kiyani, Pakistan’s army chief, on Friday stepped up his efforts to avert a deepening political crisis as opposition parties and anti-government lawyers planned mass protests next week.

Amid a government crackdown on protesters, Gen Kiyani met Asif Ali Zardari, the president, and Yusuf Raza Gilani, the prime minister, yesterday to discuss steps to restore stability and maintain the country’s parliamentary democracy. The general’s growing personal involvement has raised concerns that the military is poised to return to a more political role, in a country that it has ruled for more than half Pakistan’s 62 years as an independent state.

Senior government officials said, the general’s discussions included the restoration of Iftikhar Mohammad Chaudhry, former chief justice of the Supreme Court who was dismissed by Pervez Musharraf, when he was president, in 2007.

Mr Chaudhry’s dismissal prompted a nationwide protest by lawyers. Other contentious issues at the heart of the growing political dispute include last month’s verdict by the Supreme Court to disqualify Nawaz Sharif, the former prime minister and main opposition leader, from standing for political office. His younger brother, Shehbaz Sharif, was also disqualified the same day.

For more on this article, please click on the following link: Army chief tries to defuse Pakistan crisis: FT

Our skewed world view won't let us see the real Pakistan: Guardian

The west can no longer afford to impose its values and notions of democracy on countries that neither want nor need them

Jason Burke

First for the good news: Pakistan is not about to explode. The Islamic militants are not going to take power tomorrow; the nuclear weapons are not about to be trafficked to al-Qaida; the army is not about to send the Afghan Taliban to invade India; a civil war is unlikely.

The bad news is that Pakistan poses us questions that are much more profound than those we would face if this nation of 170m, the world's second biggest Muslim state, were simply a failed state. If Pakistan collapsed, we would be faced by a serious security challenge. But the resilience of Pakistan and the nation's continuing collective refusal to do what the west would like it to together pose questions with implications far beyond simple security concerns. They are about our ability to influence events in far-off places, our capacity to analyse and understand the behaviour and perceived interests of other nations and cultures, about our ability to deal with difference, about how we see the world.

Pakistan has very grave problems. In the last two years, I have reported on bloody ethnic and political riots, on violent demonstrations, from the front line of a vicious war against radical Islamic insurgents. I spent a day with Benazir Bhutto a week before she was assassinated and covered the series of murderous attacks committed at home and abroad by militant groups based in Pakistan with shadowy connections to its security services. There is an economic crisis and social problems - illiteracy, domestic violence, drug addiction - of grotesque proportions. Osama bin Laden is probably on Pakistani soil.

For many developing nations, all this would signal the state's total disintegration. This partly explains why Pakistan's collapse is so often predicted. The nation's meltdown was forecast when its eastern half seceded to become Bangladesh in 1971, during the violence that preceded General Zia ul-Haq's coup in 1977, when the Soviets invaded Afghanistan, when Zia was killed in 1988, during the horrific sectarian violence of the early Nineties, through sundry ethnic insurgencies, after 9/11, after the 2007 death of Bhutto and now after yet another political crisis. These predictions have been consistently proved wrong. The most recent will be too. Yesterday, tempers were already calming.

For more on this article, please click on the following link: Our skewed world view won't let us see the real Pakistan: Guardian

Currency Anomalies and Commodity Boom: Rise and Fall of Currencies: Economistan

Currency markets have had a rough year for the past twelve months where all the major currencies have declined with respect to the US dollar. Chinese Yuan is the only exception amongst major currencies. The reason for the appreciation for the Chinese currency is the strength of its export related economy and the record trade surplus it is still posting with its main export market. i.e. the US. The Chinese reserves have hit more than $2 trillion, which would also help the Chinese currency retain its strong position in the world markets.

The Japanese currency’s (Yen) rise and fall over the past twelve months vis-a-vis the US dollar is somewhat of an anomaly. However, this anomaly can be attributed to the carry trades where the low yielding Yen has played a major role, resulting in the strengthening of the Yen in the calendar year 2008. The declining stock markets had been aiding the rise of the Japanese currency due to the carry trades. This mechanism however, came to an end since the beginning of the current year with the Japanese currency falling out of favor due to carry trade cycle completion and the deterioration of the ailing export led Japanese economy. Yen has fallen by around 9% against the dollar just this month alone. It remains to be seen, how the Japanese companies react to the weaker Yen and whether the weakening currency would eventually make Japanese exports more competitive in the world market than they have been lately due to the strong currency.......

For more on this article, please click on the following link: Currency Anomalies and Commodity Boom: Rise and Fall of Currencies: Economistan

Karachi, the Cheapest City in the World City Rankings: Economist

Karachi is the cheapest city in the world according to the cost of living survey by the Economist Intelligence Unit. Tokyo, tops the list, being the most expensive city in the world. Many American cities have become more costly, thanks to the appreciating value of dollar.

For more on this article, please click on the following link: Karachi, the Cheapest City in the World City Rankings: Economist

Pakistan economic indicators: Forbes

Floating Interbank Rate (Rs/$) 80.23/80.33 80.25/80.35

Rupee/US $ (kerb market) 80.20/80.50 80.30/80.70

Karachi 100-share index 5,707.09 5,557.92

Gold (Karachi) Rs/10 gm n/a 23,618

======CENTRAL BANK AUCTIONS======

Comment On This Story

Treasury Bills Auction Results:

Cut-off Yield (pct) at auction on: Mar 11 Feb 25

Three-months bills 11.6908 12.6091

Six-month bills 11,7845 12.9828

12-months bills 11,8518 13,0044

Pakistan Investment Bond (PIB) Auction Results:

Cut-off Yield (pct) at auction on: Feb 18 (2009) Aug 29 (2008)

11.25 pct coupon, three-Year PIB 13.9530 13.6973

11.50 pct coupon, five-Year PIB 14.3692 B/Rejected

11.75 pct coupon, seven-year PIB 14.7973 14.3398

12.00 pct coupon, 10-Year PIB 14.9444 14.5493

12.50 pct coupon, 15-Year PIB 15.4995 14.7500

13.00 pct coupon, 20-Year PIB 15.8998 No B/Received

13.75 Pct coupon, 30-Year PIB 16.4496 14.9384

======WEEKLY INDICATORS======

Week ending Feb 28 Feb 21

Total liquid frx reserves $10.138 bln $10.166 bln

Forex held by central bank $ 6.687 bln $ 6.734 bln

Forex held by other banks $ 3.451 bln $ 3.432 bln

======MONTHLY INDICATORS======

LAST PVS

Consumer price index Feb 191.90 190.09

Change mth/mth (pct) Feb -0.59 -0.42

Change Yr/Yr (pct) Feb 21.07 20.52

Wholesale price index Feb 194.19 192.91

Change mth/mth (pct) Feb n/a n/a

Change Yr/Yr (pct) Feb 15.03 15.69

Trade Balance Feb $-857 mln $-1.17 bln

Exports Feb $ 1.26 bln $ 1.36 bln

Imports Feb $ 2.12 bln $ 2.53 bln

======ANNUAL INDICATORS======

FISCAL YEAR 2007/08 2006/07

Population (millions) **160.9 156.77

Per capita income **$1085 $925

For more on this article, please click on the following link: Pakistan economic indicators: Forbes

PNAC: Neo-cons‟ map for destroying, Russia, China and Pakistan still alive: Daily.pk

PNAC: Neo-cons‟ map for destroying, Russia, China and Pakistan still alive
Opportunity to change PNAC (Project for New American Century) into PNCA (Project for New Collaborative Asia)


What are odds of success if people like Dick Cheney, Donald Rumsfeld, Steve Forbes, Dan Quayle, Henry S. Rowen, Paul Wolfowitz, William Kristol, Robert Kagan, Francis Fukuyama draw a plan to get control of all energy resources and its routes after triggering a carefully designed „another Pearl Harbor‟ and using it as an excuse to start wars to gain their stimulated objectives? It is real dilemma that after designing this plan they actually came into power in US and held key posts in Bush administration due to this it took just about a year when they actually got it done on 9/11/2001.

1- What is PNAC?

Introduction
PNAC is an enterprise to devise methodologies and strategies to have control over world‟s resources and to have all key economic locations under neoconservatives‟ control. What is more disturbing is the idea according to which no developing nation has any right to safeguard its interests like African countries and Pakistan is latest victim of this endeavor.
For last 8 years members of this project enjoyed highest ranks in Bush administration and they gave some really horrible things not only to world but also to American people.


Most notably 9/11, Iraq‟s war, US Patriot act, Iraqi Liberation Act, current economical crisis are just to name few.

If we look at the composition of this project‟s team it includes staunchest conservatives like Dick Cheney, Donald Rumsfeld, Richard Perle, and Paul Wolfowitz. Not only during Bush administration they desired to wage a foreign policy with massive military use as prime instrument but they also made an attempt during Bill Clinton‟s era as well by writing him a letter asking to invade Iraq in late 90‟s soon after PNAC was formed. A brief look at official introduction may not seem to be suspicious at first, but a more microscopic treatment can enlighten the readers about neo-con designs. A look at official introduction of PNAC would be helpful which says:

“The Project for the New American Century is a non-profit educational organization dedicated to a few fundamental propositions: that American leadership is good both for America and for the world; and that such leadership require military strength, diplomatic energy and commitment to moral principle. The Project for the New American Century intends, through issue briefs, research papers, advocacy journalism, conferences, and seminars, to explain what American world leadership entails. It will also strive to rally support for a vigorous and principled policy of American international involvement and to stimulate useful public debate on foreign and defense policy and America's role in the world.” William Kristol, Chairman

For more on this article, please click on the following link: PNAC: Neo-cons‟ map for destroying, Russia, China and Pakistan still alive: Daily.pk

Services export witnesses growth of 33.86% in July-Jan 2009: Daily Times

KARACHI: The services trade deficit narrowed down by almost 38 percent in the first seven months of current fiscal year over the same period of previous year. The services deficit came to $2.470 billion in the period under review against $3.967 billion in the corresponding period of last fiscal, Federal Board of Revenue (FBR) reported Monday. Services export registered 33.86 percent growth to $2.161 billion in July-January 2009 period over $ 1.614 billion in the same period 2007-08. The imports of services decreased by 17.02 percent to $4.632 billion in the said period against $5.582 billion in the last fiscal. In month of January current fiscal, the service trade deficit reduced even greater by 75.58 percent to $164.075 million against $671.805 million in the same month of previous year. The growth in export of services during this particular month was 40 percent while the imports decreased by 46.71 percent in the same month of last year. The service sector comprises government services, travel services, transportation services, financial services, communication services, construction services, computer and information services, royalties and licenses. Despite having enormous potential, the growth and development of services sector in Pakistan has been quite negligible.

For more on this article, please click on the following link: Services export witnesses growth of 33.86% in July-Jan 2009: Daily Times

Withdrawal of duty exemption for foreign fast-food chains demanded: The News

LAHORE: The Lahore Chamber of Commerce and Industry has urged the government to withdraw a notification which exempts international fast-food chains from 25 per cent regulatory duty on import of potato products, which has adversely affected farmers and local fast-food outlets.

In a statement issued on Monday, LCCI President Mian Muzaffar Ali said a number of local fast-food chains had approached the Chamber complaining about the SRO providing duty exemption.

“They are extremely hurt, frustrated and disappointed. They say that SRO 106(I)/2006 dated 03-02-2006, which provides exemption to international fast-food chains from the levy of 25 per cent regulatory import duty on potato products, is discrimination against local fast-food chains.”

The LCCI president said it seemed that the government was siding with international chains by providing them the tools and means to unfairly compete and take away the business of local enterprise. The international fast-food chains having almost 30 per cent advantage would offer deals including potato fries to the consumers at a much lower price than local chains because of the unfair advantage provided by the government.

For more on this article, please click on the following link: Withdrawal of duty exemption for foreign fast-food chains demanded: The News

Trade deficit falls 6.8pc to $11.62bn: The News

By Aftab Maken

ISLAMABAD: The trade deficit for the first eight months of the current fiscal year stood at $11.62 billion, registering a decrease of around 6.86 per cent compared to $12.47 billion in the same period last fiscal, the Federal Bureau of Statistics (FBS) said on Monday.

It is interesting to note that the balance of trade has for the first time registered a decline and also imports went into the negative zone, helping the policy-makers to keep current account deficit (CAD) well below 6 per cent of gross domestic product (GDP).

Decline in the balance of trade and imports clearly reveals that the economy is showing signs of slowness and it will continue to do so in the coming months, an analyst said. During July-February 2008-09, Pakistan’s exports totalled $12.16 billion and imports $23.77 billion against $11.66 billion and $24.14 billion, respectively recorded during the same period last year. Imports were 1.49 percent less than the same period last fiscal, while exports rose only by 4.25 percent, said FBS data.

For more on this article, please click on the following link: Trade deficit falls 6.8pc to $11.62bn: The News

Imran Khan sees 'foreign element' in cricket attack: AFP

ISLAMABAD (AFP) — Former Pakistan captain Imran Khan believes a "foreign element" could be involved in this week's attack on the Sri Lankan cricket team, according to an interview published Saturday.

"It could be India, Afghanistan, the Tamil Tigers," Khan was quoted as saying in an interview published online by The Times of London.

"The motive is to damage the state of Pakistan and end cricket here. The shocking thing is that there was so little security for the players," Khan said.

Khan said that he now feared that Pakistan would be treated as a pariah by the rest of the world and that it was already being described as a "failed state" and a breeding ground for terrorists.

"This attack was guaranteed front-page news everywhere in the world," Khan said.

"The perpetrators wanted to portray Pakistan as a chaotic state in the Dark Ages. Yesterday, the stock market took a nosedive. Pakistan is a resilient country but we have gone from crisis to crisis."

Khan's belief that foreigners may be involved in the cricket attack echoes Pakistan's interior minister Rehman Malik, who told reporters Friday that, "I cannot rule out (involvement of a) foreign hand in the incident."

Khan said that almost all the terrorism taking place in Pakistan since 2004, when its army was sent into the tribal areas, had been suicide attacks.

He said that last year there were over 100 suicide attacks "but they have a pattern. They are always in retaliation."

For more on this article, please click on the following link: Imran Khan sees 'foreign element' in cricket attack: AFP

Umps urged to cool criticism of Pakistani forces: The Age

INTERNATIONAL Cricket Council boss Haroon Lorgat claims Australian umpires Simon Taufel and Steve Davis need time "to be more rational" about the Lahore terrorist attack.

Taufel, Davis and English match referee Chris Broad have all been scathing of the Pakistani security forces after feeling they were left for dead in last Tuesday's ambush by heavily armed gunmen.

They felt deserted by the security escort as they lay stranded on the floor of their van with their driver shot dead and a colleague wounded as the Sri Lankan team bus ahead in their convoy drove away.

But ICC chief executive Lorgat, their boss, said they needed time to calm down and consider what had happened.

"I am mindful of the experience they have gone through and I think it is a difficult time for them," Lorgat said at a press conference in Sydney yesterday.

"I guess if you or I had gone through something we might have reacted in a similar fashion. We must just allow them to settle down and be more rational in their assessment of what has transpired."

For more on this article, please click on the following link: Umps urged to cool criticism of Pakistani forces: The Age

ICC chief defends security in Lahore: The Australian

INTERNATIONAL Cricket Council chief executive Haroon Lorgat was satisfied with the security plan for the umpires and match officials who escaped being killed during a terrorist attack in Lahore last Tuesday.

Match referee Chris Broad claimed they were "sitting ducks" during the attack and his anger was matched by Australian umpires Steve Davis and Simon Taufel, who claimed "we were promised nine (out of 10 security) and got two out of 10".

"We were satisfied with the plan," Lorgat told The Australian yesterday. "I'm waiting for reports from that incident which will either substantiate what Chris Broad is saying or perhaps give us a different view on what has transpired.

"Initially, we had interchanged with the Pakistan Cricket Board on that plan. We shared it with the match officials.

"They had provided some input into it and we had signed off on the plan."

Six policemen and the match officials' bus driver were killed while five Sri Lankan players, an assistant coach and a reserve umpire were injured when a dozen heavily armed gunmen hijacked the convoy on its way to Gaddafi stadium.

Lorgat was speaking at picturesque North Sydney Oval yesterday while watching the women's World Cup match between Australia and New Zealand, which was a world away from the rising tide of terrorism across the subcontinent.

Before the match, he stood on the field with both teams and the match officials for a minute's silence to acknowledge those who suffered in the attack.

Lorgat is waiting on a report from the ICC's anti-corruption and security unit about the incident, which will be discussed at the ICC's next board meeting on April 16.

Broad may be invited to the meeting to give his account of the issue, along with security experts.

Not surprisingly, the ICC will review its security measures for match officials in future.

"It's certainly something we're going to have to look at very carefully," Lorgat said. "It might even include ensuring we've got close protection officers with match officials in certain if not all locations. We will have to change the way we deliver the security arrangements."

He would not comment on the outrageous attack that PCB president Ijaz Butt made on Broad last week, when Butt called Broad a liar over the failure of Pakistani security.

"I don't want to be emotional about it," Lorgat said. "At a time like this, it's a very difficult period for all those who are faced with it.

"We have to be cool, we have to be correct about what we say and I'd rather wait for that report to come through to see exactly what happened on that fateful morning."

Remarkably, he defended the ICC's attempt to try to play the Champions Trophy in Pakistan last year.

Despite five countries, including Australia, refusing to attend on independent security advice, the ICC refused to move the event, which has now been postponed until later this year.

Lorgat claimed the ICC's security advice only changed early this year after the defeat of the Musharraf government at the general elections.

For more on this article, please click on the following link: ICC chief defends security in Lahore: The Australian

'Aman-2009 takes Pakistan into naval diplomacy era’: The News

KARACHI: Pakistan Navy’s multinational Naval Peace Exercise "Aman 09" began here on Thursday.

According to Pakistan Navy spokesman, formal inauguration of “Aman 09” will take place at Karachi Dockyard in evening.

The navies of 38 countries of the region and the world are participating in these exercises. Out of these 38 countries, the naval forces of 11 countries are going to actively participate in the exercises with their battleships, maritime aircraft, sailors, and other special forces. The international maritime manoeuvres will continue till March 14.

The spokesman said that extensive briefing and debriefing sessions would be held before and after the main sea manoeuvres phase of the exercise in order to enhance understanding and information regarding operations of different navies among the participants. Bahria University will also hold an international maritime conference on the sidelines of the Aman exercise.

He said that geographically Pakistan is located at an important maritime location where its naval forces have been operating at the frontlines to combat international sea menaces of pirates, drug and human trafficking, and terrorism.

He said the epicentre of the international maritime threat in the shape of pirates had moved closer to the region, and the Pakistan Navy has to spare its assets to actively participate in international naval operations against the pirates operating near the Gulf of Aden.

For more on this article, please click on the following link: 'Aman-2009 takes Pakistan into naval diplomacy era’: The News

Pakistan attacks a byproduct of the foundering US war on terrorism: SMH

Seumas Milne

Barack Obama's rise to power is a product of that record of failure: without his opposition to the Iraq war he would not be President. And since his inauguration, he has signalled potentially important shifts in US foreign policy, while ditching the rhetoric of the war on terrorism. But although the belligerent language has gone, what is striking is the continuity with the main elements of George Bush's "war on terrorism".

Obama's timetable for withdrawal of troops from Iraq mirrors last November's status of forces agreement between the Bush administration and the Iraqi Government, including his stated "intention" to pull out all troops by the end of 2011. And, as after last year's deal, that was quickly qualified by the US Defence Secretary, Robert Gates, who said he would like to see a "modest" US military presence stay on thereafter - if the Iraqi Government requested it.

In the crucible of conflict in the Middle East, between Israel and the Palestinians, there is also little sign of any substantive change in US policy, whether on lifting the continuing siege of Gaza or talking to the Palestinians' elected representatives, let alone using US leverage to bring an end to Israel's illegal colonisation of the West Bank or to end its occupation.

For more on this article, please click on the following link: Pakistan attacks a byproduct of the foundering US war on terrorism: SMH

Indian intelligence 'linked' to attack on Sri Lankan team: adnkronos

Lahore, 3 March (AKI) - By Syed Saleem Shahzad - Indian intelligence services are behind Tuesday's attack against the Sri Lankan cricket team in the eastern Pakistani city of Lahore, according to Pakistani analysts. At least five policemen died in the ambush by 12 masked gunmen, and six cricketers and their assistant coach were injured.

Some analysts said India's Research and Analysis Wing (RAW) was behind the attack against the team bus outside Lahore's Ghaddafi Stadium, in which a Pakistani test umpire was critically injured.

“The event was crafted on the pattern of Mumbai attacks of November, 2008 and its aims and objectives are apparently to damage Pakistan’s interests," a defence expert retired major general Jamshed Ayaz told Adnkronos International (AKI).

He was referring to the deadly assault against tourist targets in the Indian financial capital of Mumbai, which killed at least 170 people. India blamed outlawed militant Kashmiri separaratist group Laskar-e-Toiba for the Mumbai attacks.

"This job could only have been done by forces allied with Pakistan’s enemy country,” Ayaz claimed.

The test match has been called off and the Sri Lankan cricket team has flown home, reportedly badly shaken by the attack.

“It is not my place to comment on who was behind the incident but obviously Pakistanis are cricket lovers and they would never do that," former Pakistan Test Cricketer Zaheer Abbas told AKI.

"There is a possibility of the Liberation Tigers of Tamil Eelam being behind the event,” said Abbas.

But a spokesperson of the Sri Lankan Embassy in Islamabad denied that the militants from the LTTE were behind the attack. The spokesperson said however that the police motorcade escorting the Sri Lankan cricket team had been the target and that the cricketers were just caught in the crossfire.

For more on this article, please click on the following link: Indian intelligence 'linked' to attack on Sri Lankan team: adnkronos

Interest rate may be cut to 12pc: The News

KARACHI: Board of Investment Chairman Saleem H Mandviwalla has said interest rate may be cut to 12 per cent from 15 per cent after the government reviews the benchmark interest rate in March this year.

Besides that, “the government is bringing an industrial package, including new laws for the gems and stone sector,” he said.

He was speaking to industrialists at a seminar on ‘Public-Private Partnership’, organised by the Karachi Chamber of Commerce and Industry (KCCI) and its Infrastructure Management Unit (IMU) on Saturday.

He said the BoI was doing its best to include more and more private sector people in the public sector in order to make progress through public-private partnership.

He said the government had also made agreements for purchasing hybrid seed from China to improve per acre yield of crops and produce more food. “Hybrid seed will increase our per acre yield up to three times,” he added.

BoI Sindh Chairman and businessman Zubair Motiwala said the public-private partnership mechanism had always been productive all over the world whether they were developed or underdeveloped countries. He said the BoI would take all measures to exploit all possible areas of development including fish farming, corporate farming and agriculture in general.

A businessman invited the attention of BoI officials to smuggling of stationary and lubricant items from the Chinese border, to which Zubair Motiwala replied that the government should do something to control smuggling. “There are a variety of goods being imported into Pakistan under the Afghan Transit Trade Agreement (ATTA), which never went to Afghanistan and damaged local industries.

For more on this article, please click on the following link: Interest rate may be cut to 12pc: The News

USAID inks MoU for provision of $22.3m for food security: Daily Times

ISLAMABAD: The United States of America, through the United States Agency for International Development (USAID) and the United Nations World Food Programme (WFP) on Friday announced the signing of an agreement worth $22.3 million to help ease the burden of high food prices on the poor in Pakistan. In this regard Joseph Williams, Deputy Mission Director USAID and Wolfgang Herbinger, WFP Pakistan Representative signed the MoU today. “This programme will benefit thousands of Pakistanis, who are affected by the rising price of basic food items. I am particularly pleased that many of those who will benefit from this food aid are Pakistani school children,” said Joseph Williams. The WFP representative in Pakistan Wolfgang Herbinger said, “This grant comes at a very critical time and would help WFP continue its assistance to three million needy people hit hard by the surge in food prices. We appreciate the role of the USAID as a development partner in addressing the hardships faced by poor Pakistanis,” he added. Although commodity prices in international markets have declined from the peak in mid-2008, food prices in Pakistan and some other countries in the region continue to remain high.

For more on this article, please click on the following link: USAID inks MoU for provision of $22.3m for food security: Daily Times

Economy on way to revival: Ishrat: The News

KARACHI: Former Governor State Bank of Pakistan and Dean and Director Institute of Business Administration, Dr Ishrat Hussain has said that Pakistan is now on moving towards economic revival as recent indicators have shown easing of the crisis that the country was facing.

Pakistan France Business Alliance, the representative forum of Pakistani and French companies, organised the 5th Pakistan-France Trade Performance Awards 2006-07 to recognise and honour leading Pakistani manufacturers and exporters and importers from France here on Friday night.

Hussain said that the economic crisis in Pakistan was not due to the global recession instead it was the steep rise in inflation that had crippled the nation.

He further voiced that rising oil prices had fuelled the inflation in the country. A single barrel had risen from $50 to $150 threatening the country with hyperinflation.

The dean stated that the financial situation of Pakistan was far worst than 70s and 80s and the IMF aid was essential to control the dwindling economy. He further held that even on the international front, the global economy’s GDP this year was the worst in recent history.

For more on this article, please click on the following link: Economy on way to revival: Ishrat: The News

India stored 200,000 acre-feet of water in Baglihar: minister: Daily Times

* Outstanding payments to IPPs amount to Rs 100bn, Pervez Ashraf tells NA

Staff Report

ISLAMABAD: India had stored 200,000 acre-feet of water for the initial filling of the Baglihar Hydroelectric Plant during August and September 2008 – about 130th of the average inflow of the River Chenab – and the move affected agricultural crops especially rice, the National Assembly was told on Saturday.

In a written response to a question by Sabeen Rizvi, Water and Power Minister Raja Pervez Ashraf said the Pakistan commissioner for Indus waters took up the matter seriously as India had violated the Indus Water Treaty. He said that India began filling the Baglihar Dam without informing Pakistan and inflow in Chenab was reduced to less than the minimum requirement of 55,000 cusecs.

In another written response to a question posed by Marvi Memon, the minister said the outstanding payments to independent power producers (IPPs) amounted to Rs 100 billion and that had caused a shortage of 1,366 megawatts of power.

For more on this article, please click on the following link: India stored 200,000 acre-feet of water in Baglihar: minister: Daily Times

Pakistan seeks help for 54 mega projects: Steel Guru

Business Recorder reported that Pakistan has sought assistance from Friends of Pakistan for 54 mega development projects including USD 8.4 billion Diamer Bhasha dam and Neelum Jhelum hydropower project.

According to the sources, a formal announcement for assistance may come in the next ministerial meeting of the FOP that the Japanese government has offered to host.

Friends of Pakistan forum, considered to be President Mr Asif Ali Zardari's brainchild was launched in New York on September 26th 2008 on the sidelines of the 63rd United Nations General Assembly meeting held in New York. The FOP membership consists of countries that are also members of the aid to Pakistan consortium, which was constituted in 1960 by the World Bank in an effort to facilitate co-ordination amongst the major assistance providers to Pakistan as well as for other debtor countries.

For more on this article, please click on the following link: Pakistan seeks help for 54 mega projects: Steel Guru

GDP growth to be less than 2%: Salman Shah: Daily Times

LAHORE: Pakistan’s GDP growth would be less than 2 percent, lowest in past one decade, as the growth has been strangulated by the irrational tight monetary policy stance of the State Bank of Pakistan.

Former Adviser for Finance, Dr Salman Shah stated this while speaking at a discussion on economic decline and remedial measures. The discussion was organised by Lahore Economic Journalists Association. President Mansoor Ahmad, Vice President Itrat Bashir, Geral Secretary Sudhir Chaudhry And Finance Secretary Imran Adnan were also present.

Elaborating his point, he said the sensitive price index has been on constant decline since October 2008 and there is no justification in keeping the central bank policy rate at 15 percent that has trifled growth. Dr Shah claimed that based on current inflation scenario, the KIBOR should not be more than two percent and the policy rate of the State Bank of Pakistan should be around 9 to 9.5 percent. He said after accounting for 3 to 5 percent banking margins the industry would get credit at 13 to 14 percent. He said even this interest is high but the productive sector would be able to grow. He said the current high interest rates have marginalised the manufacturing sector of the country. “No industry could grow if it gets credit at 20 percent” he added.

He said more that 54 percent of Pakistani population is under the age of 25 and every year about 4 million of them join the adult workforce. “Pakistan needs to grow at 9 to 10 He said the economic managers of previous regime knew that the high oil prices would put pressure on foreign exchange reserves.

In order to counter this spike in oil prices, we handed over the road map to the government elected last year. He said the plan was to offload small percentage of public sector companies like National Banks, KAPCO etc in the London Stock Exchange in April 2009. He said at that time the stock market was at its peak of 15,800 points and the share prices of these companies were very high. He said government would have obtained $4 to $5 billion from these transactions. He regretted that the new government scrapped the programme.

For more on this article, please click on the following link: GDP growth to be less than 2%: Salman Shah: Daily Times

‘Drip irrigation, solar energy is future of Pakistan’: The News

By By Shahid Husain
Mithi, (Trarparkar): In village Wandhanjo Wandu, Nagarparkar, one is amazed to find that a local farmer Mohabat is cultivating his 6-acre land with solar energy and is earning Rs300 daily through the sale of vegetables alone.

“I had this piece of land since long but it was lying barren for non-availability of water,” he told The News. “I used to work as a hari (peasant) in Thatta district and was barely able to meet my ends meet. Now I am self-employed person and earn pretty well,” he said.

Mohabat has gown tomatoes, eggplants, onions, chillies and sunflower on his field. He fetched Rs20,000 from the sale of tomatoes alone this year and yield in sunflower was 40 maunds per acre that he sold for Rs1,800 per maund. Similarly, the yield in onion was 60 maund per acre. He fetched Rs250 for every maund of that commodity.

“I use drip irrigation to conserve water and am a happy man now,” he said with a smile.

Known as Lift Irrigation, the project on which Mohabat works was initiated by Thardeep Rural Development Programme (TRDP) and is supported by Pakistan Poverty Alleviation Fund. The total cost of the project is Rs8,81,526 with a TRDP share of Rs1,78,926 and PPAF share of Rs7,02,600.

“Had I used a motor to lift water I would have needed at least 10 litres of diesel that would have been very expensive,” he said.

Similarly, in a village called Singharo, some 55km from district headquarter Mithi; poor villagers are fulfilling their requirements of drinking water through seven solar panels powering pumps that lift underground water. At least 60 houses of the small village of 2000 people are not only getting their thirst quenched courtesy to solar energy but are also making money through sale of tomato, brinjal, cumin and other vegetables.

Again the project has been a collaboration of TRDP and PPAF. The solar pumps work for 10 hours between 10am and 4pm every day and women are seen collecting water from the water tank.

The well is 170 feet deep. Previously village women would fetch water from the deep well through camels and donkeys and it was a tedious job. Now solar energy is being used to do the job.

Apparently, installing solar panels for the impoverished people of Tharparkar appears to be a costly affair but if one keeps in view that the great desert of Pakistan bordering the Great Indian Desert always has a blazing sun, one is bound to agree with enthusiasts relying on non-exhaustible sources of energy.

“Drip irrigation is the future of Pakistan. It means we have to learn water conservation and this can improve the lot of poor farmers,” said Dr. Sono Khangharani, Chief Executive Officer TRDP.

“In 90 per cent areas in Tharparkar we can avail solar energy and the later can play a vital role not only in provision of electricity, cultivation but can also help in job creation, poverty alleviation and in giving a boost to local economy,” said Dr. Khangharani.

“The use of solar energy in Tharparkar will also result in reverse migration,” he said.

For more on this article, please click on the following link: ‘Drip irrigation, solar energy is future of Pakistan’: The News

Kayani asks US to give Pakistan Cobra helicopters: Daily Times

LAHORE: Pakistan has asked the United States to provide it military hardware, including Cobra and Apache assault helicopter gunships, a private TV channel quoted unidentified military officials as saying on Friday. According to the channel, Chief of Army Staff Gen Ashfaq Kayani gave a list of demands to the US during his meetings with senior US military officials.

For more on this article, please click on the following link: Kayani asks US to give Pakistan Cobra helicopters: Daily Times

‘Pakistan seeks more trade with US to overcome economic issues’ : Daily Times

NEW YORK: Pakistan is keen to expand trade with the United States (US) to overcome its economic problems, Ambassador Abdullah Haroon said on Tuesday, hoping the Obama administration would consider giving more market access to Pakistani goods. Speaking to a group of members of World Youth Institute, a United Nations-affiliated body, at the Pakistan Mission, Pakistan’s envoy to the UN hoped the US government, which is currently reviewing is Afghan policy, would devise a plan to not only deal with terrorism along the Pak-Afghan border but also to solve Pakistan’s economic problems. Pakistan's main exports – cotton and textile products – amounted to $7 billion, which had the potential of increasing to $15 billion.

For more on this article, please click on the following link: ‘Pakistan seeks more trade with US to overcome economic issues’ : Daily Times

High-flying Younus lifts Pakistan cricket: AFP

KARACHI (AFP) — In two years Younus Khan has gone from shunning the captaincy of Pakistan's cricket to being hailed Thursday as its saviour after his epic 313 runs in the first Test against Sri Lanka this week.

The 31-year-old Younus's marathon innings of 12 hours and 48 minutes not only helped Pakistan draw the match but elevated him to the top of the International Cricket Council (ICC) batsmen's rankings.

But more than his batting, Younus's fearless attitude and positive approach suggests he is the man to lead Pakistan cricket out of a turbulent period.

Former Pakistan captain Rashid Latif expressed great confidence in Younus.

"Younus taking the responsibility and leading from the front augurs well for Pakistan cricket. He doesn't demand respect, he commands it and this is the best quality for a captain," said Latif, widely regarded as Younus's mentor.

Wasim Akram, another former Pakistan captain, believes Younus can bring home the laurels.

"Younus showed that records matter less and team comes first. I think if he stays as captain, Pakistan can win the 2011 World Cup," said Wasim.

He was referring to two records that came within striking distance for Younus this week -- Hanif Mohammad's Test score of 337 runs for Pakistan in 1958 and Brian Lara's world record of 400 in 2004.

Many believed Younus would never lead Pakistan again after he turned down an offer of the captaincy following team's shock first-round defeat in the 2007 World Cup held in the West Indies.

Pakistan also lost their admirable coach, Bob Woolmer, who died in the team's Jamaica hotel following their humiliating defeat against minnows Ireland.

For more on this article, please click on the following link: High-flying Younus lifts Pakistan cricket: AFP

Pakistan, US can work for a secure world: Obama: Daily Times

ISLAMABAD: United States President Barack Obama on Saturday hoped that Pakistan and the US could work together in a spirit of friendship to build a more secure world. Responding to a felicitation message by Prime Minister Yousuf Raza Gilani on assuming the office of the US president, Obama expressed his confidence that the two countries could jointly work to ensure global security in the next four years.

For more on this article, please click on the following link: Pakistan, US can work for a secure world: Obama: Daily Times