In partnership with
PM ORDERS SOLID STEPS FOR REDUCTION IN ELECTRICITY BILLS WITHIN 48 HOURS
Profit
Monday, 28 August, 2023 I 10 Safar, 1445
g
Rs 40.00 | Vol XIV No 58 I 40 Pages I Islamabad Edition
g SECOND ROUND SAYS NO HASTY DECISION g SEEKS DETAILS OF INSTITUTIONS, WOULD BE TAKEN TO HARM OFFICERS GETTING FREE ELECTRICITY OF MEETING WILL COUNTRY’S INTERESTS FROM RELEVANT DEPARTMENTS TAKE PLACE TODAY
C
ISLAMABAD STAFF REPORT
ARETAKER Prime Minister Anwaarul Haq Kakar on Sunday directed the relevant authorities to come up with concrete measures within the next 48 hours to reduce burden on the masses amid countrywide public outcry over unprecedented inflated electricity bills. The prime minister had convened the emergency meeting, which lasted for nearly two hours, in a bid to address the complaints about excessive electricity bills. During the meeting, representatives from energy and electricity-related ministries participated. A detailed briefing on electricity transmission and tariffs was provided by the power ministry. On the occasion, the premier was given a detailed briefing on the increase in electricity bills for July. PM Kakar, addressing the participants, said that no hasty decision would be taken that could harm the country’s interests, emphasising the need for initiatives that do not burden the national treasury and bring relief to consumers too. “It’s inconceivable that while the common man grappled with difficulties, the prime minister and the bureaucracy were benefiting from tax-funded free electricity,” he emphasised. He said relevant ministries and departments should provide details of the institutions and officers who were getting free of cost electricity. “I represent the common man,” said the caretaker premier directing that electricity consumption at the
Prime Minister’s House and Pakistan Secretariat should be reduced to a minimum. A second round of the meeting will take place tomorrow (Monday). During the meeting today, the PM was also briefed on measures to prevent electricity theft. The power distribution companies should give a road map for stopping electricity theft, he added. The PM said reform plans in the electricity sector and short, medium and long term plans should be presented as soon as possible. Interim Finance Minister Shamshad Akhtar, caretaker Commerce Minister Gohar Ijaz, interim Information Minister Murtaza Solangi, Adviser to PM Dr Waqar Masood, power secretary, Water and Power Development Authority (Wapda) chairman, National Electric Power Regulatory Authority (Nepra) chief and other relevant officials attended the meeting. ‘ACTION PLAN TO PROVIDE RELIEF TO PEOPLE’ In a statement issued on X following the huddle, the prime minister said that the Ministry of Energy (Power Division) and the Ministry of Finance have been tasked with the responsibility of making an action plan to provide relief to the people. “Consultations will be held with the provinces tomorrow and the caretaker government will try to provide as much relief as possible within its mandate,” he wrote on the microblogging website — previously known as Twitter. Citizens staged a protest demonstration in Punjab’s Rahim Yar Khan, blocking the main road while in the province’s Chunian city, angry power consumers
blocked the Exchange Road and set their bills ablaze. Protesters across the country demand a reduction in electricity tariffs and the removal of excess taxes in the utility bills, warning that they would not pay the bills if the demands were not met. Traders, too, protested in Hafizabad by leading a rally from the city’s Fawara Chowk to the press club. In Okara’s Hujra Shah Muqeem, people came out for demonstrations as well. Protesters burnt electricity cables and raised slogans against the Water and Power Development Authority (Wapda) and the government. Demonstrations by citizens and traders were also held in Faisalabad, Lahore, Risalpur, and Khyber Pakhtunkhwa’s Nowshehra district against the hike. Political parties including the Jamaat-e-Islami and Muttahida Qaumi Movement-Pakistan (MQM-P) have condemned the hike and additional taxes on power bills. ‘CIVIL DISOBEDIENCE LOOMS LARGE’ During the presser while commenting on the unprecedented hike in power tariffs, party leader Dr Farooq Sattar lambasted the rulers, saying: “People are becoming rebels and this country is heading towards civil disobedience.” If this trend continues, “state within a state” will be created, he feared, adding that MQM-P would stand in solidarity “wherever there is protest”. “No single party can solve the problems of Karachi,” Dr Sattar said. While Khalid Maqbool said that the circular debt in the power sector is due to the incompetence and failure of the government. “They [crises] are the result of conflict between the federation and the provinces,” he said, adding that the country was facing a crisis of “intention more than an economic crisis”. JI DECIDE TO OBSERVE COUNTRYWIDE STRIKE ON SEPT 2 ON the other hand, the Jamaat-e-Islami (JI) on Sunday decided to hold a countrywide strike on September 2 against increase in electricity prices amid mounting public outcry. According to details, the decision was taken during a Jamaat-e-Islami (JI) meeting chaired by party Chief Sirajul Haque in Mansoorah, Lahore. In a statement, JI spokesperson Qaiser Sharif said that committees have been constituted for a countrywide strike on September 2 against increase in electricity prices. The spokesperson said that Sirajul Haque will hold meetings trade bodies tomorrow, adding that people from every aspect of life will participate in the countrywide strike. He also lauded the support from industrialists and traders for holding strike.
Imran tells JIT ‘some other people’, not PTI involved in May 9 riots LAHORE
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan reiterated his earlier stance to the joint investigation team (JIT) that neither he had provoked anyone to violence, nor his party leaders or workers were involved in May 9 riots, elaborating on that “some other people ‘engineered and executed the ugly events.” The JIT, comprising five highranking police officers, is probing the violent events unfolded on May 9 after permission granted by an antiterrorism court (ATC). The JIT team visited Attock jail where they quizzed the PTI chief — undergoing three-year sentence awarded in Toshakhana case — in different cases, for which he has been booked under sedition and anti-terror laws. The entire JIT including Deputy Inspector General (DIG) Investigation Imran Kishore questioned Khan but the PTI chairman once again changed his stance about the May 9 events. During the inter-
rogation, the team informed the former premier — who was ousted from office after a no-confidence motion against him in April 2022 — that there was evidence against him of inciting violence on May 9. “How could I provoke anyone when I was arrested and how would I know that such incidents will,” he replied. The JIT said they have video clips showing protesters taking Imran Khan’s name. “I did not incite anyone, everyone went to the cantonment area on their own. My party members were not part of the riots, they were some other peo-
ple,” he told the JIT. A day earlier, the JIT interrogated Imran Khan on the addition of offences under sections 121 (waging or attempting to wage war or abetting waging of war against Pakistan), 131 (abetting mutiny, or attempting to seduce a soldier, sailor or airman from his duty) and 146 (rioting) mentioned in the first information report (FIR). Other offences, under which Khan was grilled, include sections 120, 120-A, 120-B, 121-A, 505, 153, 153-A, 153-B and 107 of PPC for his alleged involvement in attacks on Askari Tower, Shad-
man police station, and torching of Pakistan Muslim League-Nawaz’s (PML-N) offices in Lahore’s Model Town and Jinnah House, which also serves as the corps commander’s residence. The May 9 riots were triggered almost across the country after the deposed prime minister’s arrest in the £190 million settlement case. Hundreds of PTI workers and senior leaders were put behind bars for their involvement in violence and attacks on military installations. During the protests, the miscreants targeted the civil and military installations including — Jinnah House and the General Headquarters (GHQ) in Rawalpindi. The military termed May 9 “Black Day” and decided to try the protesters under the Army Act. To probe Khan for the violence that ensued, the police had added the provisions on August 18 as per the case diary after which it contacted the anti-terrorism court seeking permission to investigate the PTI chief. The court’s Judge Ejaz Ahmad Buttar, consequently, issued an order at the request of the police.
IN TODAY’S ISSUE
ATTENTION Some readers have complained that they are not getting the magazine with their newspaper copy. Please call or WhatsApp us at the following number to register a complaint. Contact: 0307-7338168 irfan.farooq@pakistantoday.com.pk
Elections should be held after fresh delimitations: MQM-P KARACHI
STAFF REPORT
Muttahida Qaumi Movement-Pakistan (MQM-P) Convener Dr Khalid Maqbool Siddiqui on Sunday demanded free, fair and transparent elections with the fresh delimitation of constituencies in light of digital census 2023. “General elections should be held following fresh delimitation of constituencies,” the MQM-Pakistan convener said while addressing the presser alongside party leaders Farooq Sattar and Mustafa Kamal. The MQM-P leader went on to say that Karachi needs transparent elections at the earliest, but on the same hand, Siddiqui said “If the delimitation of constituencies took weeks or months, it is not a bad deal.” “Delimitation of new constituencies inevitable after the new census,” he said. “In the previous elections, fake representatives were imposed on the city,” Khalid Maqbool Siddiqui said, adding that this time the elections needed to be fair, transparent, impartial, and acceptable to all. “No one else was deprived of their right to representation the way we were,” he said, adding that Karachi is the city that needs the earliest elections. However, he added that the elections needed to be fair, transparent, impartial, and acceptable to all. “Who are these people who are emphasising on old constituencies instead of new constituencies?” he asked. He added that millions of new voters have been registered in the new census, adding that delimitation of new constituencies inevitable after the new census. Based on the most recent census, it was determined that Karachi should anticipate an increase of approximately four seats in the provincial assembly and one seat in the National Assembly. However, contingent upon whether the constituencies’ delimitation is executed at a divisional or district level, these figures could vary. If the delimitation was carried out at the divisional level, Karachi’s provincial assembly seats could increase by four and one of the National Assembly. Conversely, if delimitation occurs at the district level, Karachi could gain an additional three provincial assembly seats and one of the National Assembly. The National Census report, released by the Pakistan Bureau of Statistics on August 6, indicated that Karachi holds a share of 22.23% in the provincial assembly and 47.57% in the National Assembly seats. In addition, the report revealed that one National Assembly seat from Shaheed Benazirabad, and two provincial assembly seats from Hyderabad, one each from Sukkur and Larkana would be reallocated to Karachi. In District South, two seats, including one seat of the provincial assembly and one of the National Assembly would be shifted, with the remaining three seats each in districts Central, East, and Malir. ‘Civil disobedience looms large’ During the presser while commenting on the unprecedented hike in power tariffs, party leader Dr Farooq Sattar lambasted the rulers, saying: “People are becoming rebels and this country is heading towards civil disobedience.” If this trend continues, “state within a state” will be created, he feared, adding that MQM-P would stand in solidarity “wherever there is protest”. “No single party can solve the problems of Karachi,” Dr Sattar said. While Maqbool said that the circular debt in the power sector is due to the incompetence and failure of the government. “They [crises] are the result of conflict between the federation and the provinces,” he said, adding that the country was facing a crisis of “intention more than an economic crisis”. During the presser, Maqbool also spoke on the rising street crimes in Karachi.
PSX reeling from shocks of rupee depreciation, rising energy tariff KARACHI TLTP
Pakistan Stock Exchange (PSX) maintained its losing streak for the third week in a row amid inflation outlook as well as economic and political instability, with the benchmark KSE-100 Index shedding 547.28 points (1.14 percent) on a week-on-week basis to close at 47,671.21 points. The benchmark KSE-100 Index shed 205.91 points (-0.43 percent) and 161.31 points (-0.33 percent) in the preceding two weeks after surging for four straight weeks. Overall, the index gained 3,464.24 points during the last seven weeks. The KSE-100 Index has gained 6,218.23 points since the Staff Level Agreement (SLA) was signed with the International Monetary Fund (IMF) on June 30. During the last week, the trading commenced on a negative note on Monday when it slumped over 700 points following President Arif Alvi’s statement regarding his refusal to sign the Pakistan Army and Official Secrets Bills. The downtrend persisted on Tuesday as well with investors remaining
under pressure over continuous free fall of the rupee that touched an all-time low, expected hike in the key policy rate and concerns over dismal data showing a $809 million current account deficit. Factors such as rupee fluctuation and a rising power tariff that impacted the economy kept investors on the sidelines, who opted for cautious trading on Wednesday and the market closed flat. On Thursday, the KSE-100 index broke its losing streak after four days of losses as investors were buoyed by virtual talks between Pakistan and the International Monetary Fund (IMF) over the energy sector. The optimism, however, could not be sustained and the index fell on Friday, driven by negative cues like inflation, rising power tariff and persistent rupee fall, which aggravated the bearish mood of investors. The Pakistani rupee continued losing ground against the US dollar for the fourth week in a row, depreciating by 1.76 percent in the interbank market, 3.92 percent in open market and 3.75 percent in the black market/ Hundi. The rupee depreciated in all five sessions of the week and set four consecutive
all-time new lows against the dollar during the last four sessions. According to JS Global analyst Muhammad Waqas Ghani, the week commenced on a pessimistic tone and the unfavourable momentum continued as investors opted to lock in profits due to uncertainty on both the political and economic fronts. Furthermore, the State Bank’s foreign currency reserves dipped by $125 million to $7.9 billion on account of debt repayments, he added. Arif Habib Limited, in its report, said that the bourse experienced a mixed trend during the week because of various developments on the political and economic fronts. Pakistan’s current account deficit for July 2023 amounted to $809 million, showing a significant 36 percent year-on-year decrease. In July 2022, the deficit had reached $1.26 billion. Furthermore, the government raised over Rs2.1 trillion through the auction of Tbills. Pakistan also received $6.49 billion through the Roshan Digital Account (RDA) but the State Bank’s reserves decreased by $125 million, reaching $7.9 billion. In terms of sectors, positive contributions came from commercial banks (19
points) and oil and gas exploration companies (15 points). Negative contributions came from fertilizer (92 points), food and personal care products (80 points), cement (79 points), technology and communication (71 points) and pharmaceuticals (41 points). Foreigners were once again the net buyers, who bought shares worth $1.7 million as compared to net buying of $2.4 million last week.
The anticipation of heightened inflation had a negative impact on the market, fearing an ad hoc policy rate hike. However, the recent T-bill auction negated that sentiment, with yields largely maintaining their flat trend as compared to the previous auction. Now the focus is on September 2023 CPI data and the Monetary Policy Committee meeting scheduled for September 14, 2023.