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ONE NATION, ONE LAW RULE TO BE ENSURED AT ALL COSTS: PM thursday, 14 September, 2023 i 27 Safar, 1445
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Directs to devise strategy for revamping communication infrastructure in GB
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GILGIT
Staff RepoRt
ARETAKER Prime Minister Anwaarul Haq Kakar on Wednesday said the problems of GilgitBaltistan would be addressed through constitutional means, and no ‘hostage group’ would be allowed to enforce its agenda. “The rule of One Nation and One Law will be implemented and there should be no doubt about it,” he told journalists at the opening of the outpatient department at the cardiology hospital in Gilgit. The prime minister said it was the responsibility of the State to ensure the rights of the people. He said every effort would be made to resolve the problems of the people of GB and provide them with an honourable life. He vowed to focus on tapping the eco-
nomic potential of GB through its tourism and energy production sectors. Kakar said the road infrastructure of GB would be improved to enhance its connectivity with the rest of the country. He mentioned holding detailed meetings with local stakeholders and highlighted the importance of removing mutual misunderstandings. About financial problems faced by Gilgit-Baltistan University, he said following his discussion with the vice-chancellor, the finance division had been directed to step in. As an inclusive approach, the prime minister said he had directed the caretaker information minister to telecast air talk shows on Pakistan Television in Gilgiti and Shina languages twice a week. Earlier, PM Kakar took a round of various departments of the hospital where he was briefed about the medical facilities. The 50-bed hospital contains emergency care, an intensive care unit, a children’s
Dollar below 300 after over two weeks
g Rupee gains further strength,
at 298.39 against dollar
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Rs 15.00 | Vol XIV No 75 I 8 Pages I Islamabad Edition
Vows to focus on tapping economic potential of region through tourism, energy production
ward, cardiac surgery, and treatment sections. It was told that the hospital will become fully functional by June 2024. Caretaker Interior Minister Sarfraz Bugti, Information Minister Murtaza Solangi, Chief Minister GB, and senior officials were present. ‘Reconstruct, improve GB’s communication infrastructure’ Earlier, Caretaker Prime Minister Anwaarul Haq Kakar directed the authorities concerned to formulate a strategy to reconstruct and improve the communication infrastructure of Gilgit-Baltistan. The prime minister, in a meeting with socio-political leaders of Hunza and visit to Hunar Kohn project of Karakorum Area Development Organization (KADO), assured early resolution of electricity-related issues faced by the region. The delegation apprised the prime minister of the issues pertaining to demand and supply of electricity in Hunza, allocation of additional seats for Hunza in the GB Assembly in proportion to the population and other matters. The prime minister instructed for formulation of a strategy for generation of electricity in coordination with the power sector. The GB’s political leadership briefed the prime minister about the challenges confronting the tourism sector of the region. They requested the prime minister to order establishment of aerial connectivity with different parts of Gilgit-Baltistan. Prime Minister Kakar directed the GB chief secretary to utilise all-out resources for early resolution of the issues. The prime minister also visited the digital hub at KADO’s Hunar Kohn project and rehabilitation center for the special persons. He lauded the KADO’s services for the welfare of local population.
Kakar approves transfer of SAB’s control back to Industries Ministry ISLAMABAD
ahmad ahmadani
The caretaker prime minister, Anwaar-ul-Haq Kakar, has granted his approval for the Sugar Advisory Board (SAB) to be handed over to the Ministry of Industry & Production from the Ministry of National Food Security. According to sources, the decision to transfer back the control of Sugar Advisory Board to Ministry of Industries & Production from the Ministry of National Food Security was taken ostensibly in response to the concerns over the Ministry of National Food Security’s handling of issues relating to sugar production and its pricing. They said that the federal cabinet, after the assent of premier, has also granted approval to transfer the administrative control of the Sugar Advisory Board, a body established in 1991, from the Ministry of National Food Security. They said the decision to relocate the board’s oversight to the Ministry of Industry is rooted in concerns over the competence of the former ministry in managing sugar-related issues. Until now, the Sugar Advisory Board lacked legal cover, despite its establishment over three decades ago, said sources. They added that the inclusion of the Sugar Advisory Board in Schedule Two of the Rules of Business has received approval from the federal cabinet, formalizing its role within the regulatory framework. It is relevant to note that in August 2022, the Sugar Advisory Board was brought under the Ministry of National Food Security. The sources also revealed that the National Accountability Bureau (NAB) had earlier forwarded the resignation tendered by Zahir Shah, Deputy Chairman NAB to the Prime Minister’s Office for further necessary action under law/rules. And, the Prime Minister accepted the resignation of Deputy Chairman, National Accountability Bureau (NAB), Zahir Shah. Following the Prime Minister’s directive, the Cabinet approved the resignation of the Deputy Chairman of NAB, sources added. Prime Minister Kakar, while interacting with the freelancer students of Hunar Kohn project, said the passion of GB youth for development was appreciable. Former GB Governor Mir Ghazanfar
PIA on verge of collapse, says airline director
PROFIT
Ali Khan, ex-member of GB Assembly Rani Attiqa, members of GB Assembly Col. (Retd) Ubaidullah Baig and Dilshad Bano, and other socio-political leaders attended the meeting.
Automotive sales in July, August 2023, worse than same months during pandemic
g Cars, motorcycles record
worst 2MFY sales in five years
newS deSk
The rupee continued to strengthen against the dollar in the interbank market on Tuesday, rising 0.42 per cent to below 300, a barrier it crossed for the first time ever on Aug 24. According to the State Bank of Pakistan’s data, the rupee closed at 299.89 on Tuesday compared to 301.16 a day ago. The rupee gained further strength through Wednesday, and is at 298.39 against 1 dollar presently. In the open market, however, the rupee remained unchanged at 300 to the dollar. The local currency has significantly gained in the past few days, with analysts attributing the rise to an ongoing crackdown on illegal dollar outflows. Currency dealers in the interbank said exporters had been selling dollars on a large scale, fearing further devaluation. However, due to the cheaper dollars, demand has started rising, which may disrupt the government’s plan to bring down the trade and current account deficits. The government has already been following the IMF’s directions to keep the imports open, but the availability of dollars was the main hindrance to imports. Currency dealers said the export proceeds had increased liquidity in the banking market, which would ultimately increase the imports. The State Bank has already directed banks to open letters of credit only when they have foreign exchange. Bankers said the higher liquidity would surely increase imports in September compared to August. Currency experts said the depreciation of the dollar could continue in the coming days, but the rate would never go back to the value prevailing in early July — around Rs275 — after the previous government managed to sign a $3 billion deal with the International Monetary Fund. The dollar then started rising and reached as high as Rs307 in the interbank market at the beginning of the first week of September. However, a subsequent crackdown on illegal currency dealers across the country produced positive results, leading to a fall of over Rs30 in the dollar’s value in the open market and also impacting the interbank rate.
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PROFIT
daniyal ahmad
ISLAMABAD
Staff RepoRt
Pakistan International Airlines (PIA) is on the verge of collapse as a top official of the national flag carrier has warned that flight operations are feared to be suspended by September 15 if emergency funds are not provided, Geo News has learnt. Speaking to Geo News on Wednesday, a senior director of the national flag carrier said the number of operational planes had been reduced to 16 from 23 which led to the cancellation of several flights. The official said aircraft manufacturers — Boeing and Airbus — have also suspended spare parts supplies to the PIA over non-payment and the national airline was incurring losses worth millions of rupees daily due to limited flight operations. The official also revealed that a PIA plane was stopped at Dammam airport while another four at Dubai airport over failure to pay for fuel. The planes were allowed to leave on written assurance of the PIA, the official said, adding that the International Air Transport Association (IATA) restored PIA services after an emergency payment of $3.5 million was made. The official warned that flight operations may be suspended by September 15 if Rs23 billion were not provided in emergency funds. Meanwhile, a PIA spokesperson said in a statement
that all-out efforts were being made to save the flight operations from suspension. A day earlier, sources told Geo News the PIA flight operations were severely affected due to a shortage of funds with a number of domestic and international flights being cancelled. The insiders said the national flag carrier had requested the government for immediate provision of funds. Moreover, the sources said the PIA employees had also not been paid their salaries as well. PIA’S FINANCIAL WOES On September 7, the PIA had said it grounded five out of its 13 leased aircraft with further prospect of grounding four additional planes due to the prevailing financial crunch. The PIA had asked for an emergency bailout of Rs22.9 billion which was rejected by the Economic Coordination Committee (ECC). The ECC also rejected the request for deferment of the payments of Rs1.3 billion per month, which PIA pays to FBR against FED and Rs0.7 billion per month which PIA pays to the Civil Aviation Authority (CAA) against embarking charges. The airline had also warned that Boeing and Airbus might suspend the supply of spare parts by mid-September. Last month, the FBR froze 13 PIA bank accounts due to non-payment of Rs8 billion in FED.
The Pakistan Automotive Manufacturers Association (PAMA) recently unveiled their sales data for the month of August, and the results, at least for the month, offer a glimmer of hope in an otherwise bleak landscape. Sales for both cars and motorcycles experienced a slight uptick from their corresponding figures in July. However, the most intriguing aspect gleaned from the data is that the combined sales of July and August (2MFY24) represent the most dismal start to any fiscal year (FY) over the past half-decade. In fact, total car and motorcycle sales during the pandemic-stricken months of July and August 2020 surpassed those of the past two months. The 2MFY24 car sales clocked in at a mere 12,035 units — marking a five-year low. To put this into perspective, the pandemic-induced months of 2MFY21 witnessed sales of a staggering 21,910 units over the same period. Similarly, 2MFY24 motorcycle sales stood at a paltry 158,925 units sold — again, the lowest in five years and a far cry from the 282,190 units sold in 2MFY21. In essence, it appears that consumers were more inclined to purchase vehicles during a time when it seemed as though the world was on the brink of collapse and Pakistan was grappling with various stages of lockdown than they were over the past two months. However, before we delve into what precipitated this decline in demand, let’s cast our gaze upon the month-on-month (MoM) gains that the industry did manage to eke out from July to August. RACE TO THE BOTTOM: LOOKING AT CAR SALES On a month-on-month basis, all car brands across Pakistan experienced a surge in their sales. Chery, however, opted not to disclose their data to PAMA, leaving us in the dark about their performance. Furthermore, Profit decided to incorporate jeeps into our categorisation of cars. As a result, our car sales figures include the Hyundai Tucson, the Honda HR-V and BR-V, the Toyota Fortuner, and the Toyota IMV (the collective term for the Hilux and the Revo).
Ball in ECP’s court as President proposes Nov 6 as date for polls g Says in terms of Article 48(5), polls should be held
by 89th day of NA’s dissolution ISLAMABAD
Staff RepoRt
President Dr Arif Alvi on Wednesday wrote a letter to Chief Election Commissioner (CEC) Sikandar Sultan Raja, proposing November 6 as the date for general elections in the country. The president, in the letter sent to the CEC, pointed out the National Assembly was dissolved on August 9 on the advice of then prime minister Shehbaz Sharif. Citing Article 48(5) of the Constitution, he said it “empowers and mandates the president ‘to appoint a date not later than 90 days from the date of the dissolution, for the holding of a general election to the Assembly’”.
The president said that in terms of Article 48(5), the general election to the National Assembly should be held by the 89th day of the date of dissolution of the National Assembly, i.e. Monday, November 6, 2023. “In an endeavour to fulfil the constitutional obligations, the Chief Election Commissioner was invited for a meeting to devise the modalities of implementing the Constitutional intent and mandate who in reply took a contrary view that as per the scheme of the Constitution and framework of electoral laws, it was the domain of the Election Commission, and following publication of last preceding census on 07.08.2023, duly notified delimitation of constituencies was in progress,
g Writes letter to CEC, saying it’s ECP responsibility
to abide by constitutional, legal steps
a mandatory requirement stipulated by Article 51(5) of the Constitution and section 17 of the Elections Act, 2017,” Dr Alvi said in the letter. He said that the federal law ministry was also of a similar view as that of the ECP chief, adding that all four provincial governments are of the view that the announcement of the election date is mandate of the ECP. “There is a consensus that to strengthen the federation and to promote unity and harmony amongst provinces and to avoid incurring of unnecessary expenses, general elections to the National Assembly and the provincial assemblies must be held on same day,” he added. The president said that it was
the responsibility of the ECP to abide by all the constitutional and legal steps stipulated under Articles 51, 218, 219, 220 and the Elections Act, 2017 for organising and conducting free and fair elections. “Taking into account all the above, the Election Commission of Pakistan in consultation with provincial governments and political parties under the relevant provisions of the Constitution and in view that some of these matters are already subjudice, may seek guidance from the superior judiciary for announcement of a single date for general election to the national and provincial assemblies,” he concluded.
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