In partnership with
Profit
DAR GREENLIGHTS SALE OF 35% OF FUTURE GAS DISCOVERIES TO PRIVATE COMPANIES Tuesday, 19 November, 2024 I | 16 Jamadi ul Awwal, 1446
A g
Decision taken despite opposition from within govt ranks PROFIT
AHMAD AHMADANI
task force led by Deputy Prime Minister Ishaq Dar has approved a decision to sell 35% of all future gas discoveries to private companies through a competitive bidding process. The move is one among a series of decisions by the incumbent Shehbaz administration that seek to privatise much of Pakistan’s natural resources. Already the government under the SIFC umbrella has been trying its best to find foreign investors for Pakistan’s mineral resources as well as its agricultural land. Gas discoveries, of which Pakistan has plenty, also require investment and interested parties. However, a 35% chunk of any future discoveries going to the private sector is a decision that has had its critics from within the government as well. The task force was the scene of flaring political tensions within the PML-N as well, with Petroleum Minister Musadik Malik raising concerns about selling future gas reserves to the private sector. The Deputy Prime Minister and some of his people have made rosy projections of $5 billion pouring into Pakistan's oil and gas exploration and production (E&P) sector, but no clear roadmap has been presented for how this will work. The government has also failed to share any comprehensive feasibility study for such sales.
Musadik Malik tried his level best to stop the policy from being approved, employing delaying tactics, including absenting himself from key meetings and proposing a controversial framework to stall the final decision. Nevertheless, the decision aligns with the directives of the Council of Common Interests (CCI), which emphasised the need for transformative measures to address the country’s energy challenges. The approved policy aims to revitalise Pakistan's struggling energy sector, reduce the circular debt, and attract much-needed investments. Industry insiders are naturally excited
by the prospect, claiming it is a pragmatic step toward revitalising the country’s energy landscape. Ghiyas Abdullah Paracha, CEO of Universal Gas Distribution Company (UGDC), called it a "historic decision" that will pave the way for long-term benefits, including enhanced energy stability and economic growth. Paracha highlighted the policy's potential to address critical issues such as gas shortages, circular debt, and distribution losses. “This move will enable the construction of new gas storage facilities and terminals, ensuring an uninterrupted supply of locally produced gas at affordable rates for industries across Pakistan,”
Rs 20.00 | Vol XV No 133 I 8 Pages I Islamabad Edition
he stated. The policy is also expected to reduce the menace of Unaccounted for Gas (UFG) losses and minimise the overall cost of gas transportation, boosting efficiency and operational profitability for the energy sector. The decision, stemming from the CCI's January 26, 2024, approval of an amended E&P policy, mandates that 35 percent of all future gas discoveries be sold to the private sector. This approach aims to attract Exploration and Production (E&P) companies, increasing their involvement in Pakistan’s gas sector. Paracha noted that the initiative would provide a stable framework for private investments, enabling greater profitability while reducing operational risks. “The consistent availability of local gas will provide industries with a reliable and cost-effective energy source, reducing the risk of future crises,” he added. The government claims that by ensuring efficient utilization of local gas resources, Pakistan’s reliance on expensive imported gas will decline, saving valuable foreign exchange reserves. Additionally, improved infrastructure and reduced losses in gas distribution will contribute to financial stability for gas companies. While disagreements remain, the decision marks a turning point for the country’s energy sector, encouraging private investment to tackle gas shortages and ensure long-term energy stability.
PM Shehbaz Sharif vows strict action against tax evaders and abettors Travel ban imposed on GHQ attack accused under anti-terrorism act RAWALPINDI
NEWS DESK
An anti-terrorism court (ATC) in Rawalpindi has imposed a travel ban on all individuals accused in the GHQ attack case, barring them from leaving the country. The ATC has formally directed the Director General of Immigration to ensure compliance with this restriction, citing Section 28-A of the Anti-Terrorism Act (ATA), which mandates travel bans to secure the presence of accused individuals during legal proceedings. The case involves 120 individuals currently under trial, with 23 declared absconders, including prominent figures like Shahbaz Gill, Murad Saeed, Hamad Azhar, and Zulfi Bukhari. Permanent arrest warrants have been issued for the absconders. Earlier, on November 16, the court postponed the indictment of PTI leaders and workers for the third time in connection with the May 9, 2023, attack on the General Headquarters following the arrest of former prime minister Imran Khan. During the hearing, the prosecution distributed supplementary charge sheets among the accused, which included senior politicians such as Shah Mahmood Qureshi, Sheikh Rashid, and Omar Ayub. However, some defense counsels raised objections, claiming new charges were added without evidence. The prosecution also highlighted that 102 of the 125 accused had yet to submit their counsels’ power of attorney. Consequently, the prosecutor requested the court to appoint state counsels for those accused. Imran Khan, detained at Rawalpindi’s Adiala Jail for over a year, was absent in court due to security concerns but had his attendance marked. Shah Mahmood Qureshi, held in Lahore, was transported to Rawalpindi for the hearing. Applications for exemption from appearance were approved for several other accused, including Ali Amin Gandapur, Shibli Faraz, Shireen Mazari, and Zartaj Gul.
g
PM urges swift measures to bring tax dodgers to justice, while highlighting economic progress and reforms PROFIT
MONITORING DESK
Prime Minister Shehbaz Sharif declared on Monday that tax evaders and their accomplices would not be spared, emphasizing the government’s commitment to enforcing tax compliance. The Prime Minister made these remarks during a meeting in Islamabad to review the country’s overall economic situation, a day after Finance Minister Mohammad Aurangzeb reiterated the government’s determination to broaden the tax net. PM Sharif instructed relevant authorities to accelerate actions against tax evaders, stating, “National progress is only possible when every citizen fulfills their due responsibility.” He also highlighted his government’s significant economic achievements, including a bullish stock market and a dramatic reduction in inflation from 38% to 7%.
The latest figures from the Pakistan Bureau of Statistics (PBS) revealed that Pakistan’s Consumer Price Index (CPI)-based inflation dropped to 6.9% year-onyear in September 2024, marking the lowest rate since January 2021. This decline, from 9.6% in August, was attributed to the high base effect, easing commodity prices, and a stable currency. “Relief for the people is our priority, and we are committed to fulfilling the promises made to them,” the Prime Minister stated, also pointing to the reduction in the interest rate from 22% to 15%, which he believes will stimulate business activity. Additionally, he noted an increase in foreign investor confidence, foreign exchange reserves, and remittances. PM Sharif also acknowledged the Punjab government’s progress in the agricultural sector, especially the approval of the Punjab Agricultural Income Tax (Amendment) Bill 2024. Despite a walkout
by opposition lawmakers, the bill aims to enhance taxation within the province’s agricultural sector. In the meeting, discussions centered on Pakistan’s economic situation, inflation, and ongoing efforts to tackle tax evasion. Meanwhile, Finance Minister Mohammad Aurangzeb, in a separate address, reaffirmed that the government’s commitments to the IMF were transparent and openly available on the Fund’s website. He stressed that Pakistan’s program with the IMF was structured to ensure transparency and accountability. Aurangzeb further emphasized that while sectors like the salaried class and manufacturing had already contributed their share, other sectors—including real estate, wholesale trade, and agriculture— would need to step up and fulfill their tax obligations. “This is not a request but a necessity. As a nation, we are left with no choice but to broaden the tax base,” he asserted.
62 cases registered against Imran Khan at Islamabad police stations, IHC told ISLAMABAD
STAFF REPORT
The Islamabad High Court (IHC) was informed on Monday that 62 cases were registered against former prime minister and PTI founder Imran Khan at different police stations of Islamabad. Islamabad Police DSP Legal submitted the report in the court. On the last hearing, the police had sought time from the court for the submission of the report. Justice Arbab Muhammad Tahir heard the petition filed by Imran’s sister Noreen Niazi, seeking details of the cases registered against her brother. Noreen’s counsels Mirza Asim Beg and Shaheena Shahabuddin appeared in the court. Last Tuesday, the Lahore High Court (LHC) was informed that total 54 FIRs had been registered against the former prime minister at different police stations of Punjab. In a report, submitted by Assistant Advocate General, Punjab Muhammad Farrukh Lodhi to the LHC during the hearing of the petition filed by Imran’s sister Noreen Khan, seeking details of the cases registered against her brother, it was told that out of these 54 cases, 21 had been registered in Lahore alone. “Similarly, 19 FIRs have been registered against the former prime minister in Rawalpindi division, one in Gujranwala, seven in Sheikhupura and five in Faisalabad,” read the report. Assistant Attorney General Sardar Ameer Hamza Dogar also submitted a report in the court, detailing the cases registered against Imran.
Trump team mulls court-martials for Afghanistan withdrawal WASHINGTON AGENCIES
The transition team of US President-elect Donald Trump is reportedly compiling a list of senior military officers involved in the chaotic 2021 withdrawal of US troops from Afghanistan, exploring the possibility of court martials for those deemed responsible for the operation’s execution. According to an NBC News report on Sunday, the team is considering forming a commission to investigate the events surrounding the withdrawal, focusing on whether military leaders should face charges, including treason, for their roles. The US military’s exit from Afghanistan, which concluded a two-decade-long presence in the country, became one of the most controversial moments of the Biden administration. The chaotic scenes at Kabul’s airport, where thousands of Afghans and foreign nationals desperately attempted to flee, raised significant questions about the planning and execution of the withdrawal. In particular, Republican lawmakers have accused the Biden administration of botching the exit, which they argue led to the rapid collapse of the Afghan government and military. Trump’s team, which is reportedly spearheaded by Matt Flynn, a former deputy assistant secretary of defense, is examining the actions of key military figures involved in the decision-making process. The team’s inquiry will focus on how the withdrawal was managed and whether those in charge failed to act with sufficient planning and foresight. Some officials are even considering the possibility of court martial charges for senior officers if their actions are deemed to have compromised the safety of American personnel or endangered US national security. The US withdrawal from Afghanistan, which took place in August 2021, followed the Doha Agreement—a deal negotiated by the Trump administration with the Taliban in 2020.
KP CM urges PM to convene urgent CCI session PESHAWAR
STAFF REPORT
Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur on Monday urged Prime Minister Shehbaz Sharif to immediately convene a session of the Council of Common Interests (CCI) to address pressing issues faced by the provinces. In a letter to the prime minister, the chief minister emphasized that provinces are grappling with various economic and internal challenges that require federal
and provincial collaboration. “A CCI session is essential to resolve multiple mutual issues between the federal government and provinces,” he stated. Highlighting the constitutional obligation, the letter referenced Article 154, which mandates holding a CCI meeting every 90 days. The chief minister also pointed out that the last session of the council was held in January this year. The Council of Common Interests (CCI) is a constitutional body in Pakistan that resolves disputes between the federal government and the provinces. It is the coun-
try’s largest decision-making forum and is responsible for matters such as the distribution of natural resources. The council resolves disputes between the federation and the provinces over rights to water, construction of power stations, and laying of transmission lines whereas it also formulates and regulates policies related to matters in Part II of the Federal Legislative List. Moreover, the CCI’s Rules of Procedure, 2010, outline the detailed procedure for the CCI’s functions. The CCI is also required to publish an annual report that is submitted to Parliament
‘PTI Power Show’: Section 144 imposed in federal capital for two months ISLAMABAD
STAFF REPORT
The Islamabad administration imposed Section 144 in the capital territory for two months on Monday, just days before the Pakistan Tehreek-e-Insaf (PTI) is set to hold its highly anticipated power show on November 24. Section 144 is a legal provision that allows district administrations to ban gatherings of four or more people for a specific period. Last week, several senior PTI leaders were detained outside the Adiala Jail in Rawalpindi for breaching Section 144 but were quickly released after a warning from police. Meanwhile, PTI founder and former Prime Minister Imran Khan issued a “final call” for nationwide protests on November 24. He condemned what he called the “stolen mandate,” the unjust arrests of PTI supporters, and the passage of the 26th amendment, which he argued bolstered a “dictatorial regime”.
Khan described the protests as a critical test for the PTI and urged the country’s legal community, civil society, and international supporters to actively participate. In a series of notifications issued by Islamabad District Magistrate Usman Ashraf, Section 144 was enforced due to concerns that certain groups were planning “unlawful assemblies” that could disturb public peace. The notifications outlined that public gatherings of five or more people were prohibited in the capital. These events, it was stated, could “threaten public peace and tranquility, cause public nuisance or harm, endanger human safety, jeopardize public property, or provoke riots or sectarian violence within the territorial limits of Islamabad.” The order also prohibits the use of loudspeakers or sound systems for “objectionable or sectarian speeches,” as well as the distribution of pamphlets or the display of posters that might incite unrest. Addition-
ally, the use of fireworks and the display of firearms, except by law enforcement agencies, are banned. In response, PTI leader Taimur Saleem Khan Jhagra criticized the Section 144 imposition, calling it “malafide and illegal” if it was applied every time Imran Khan called for a “peaceful protest”. Meanwhile, PTI Sindh President Haleem Adil Sheikh visited seven districts and met with members of the Karachi Bar Association, encouraging them to join the protest march. According to a press release from PTI’s Sindh media cell, Sheikh praised the Karachi Bar Association for its historic role in defending the judiciary and opposing the 26th constitutional amendment. He also criticized the government for undermining judicial independence through the amendment, warning that if the judiciary fails to deliver justice, the country risks falling into anarchy.
PTI gears up for Nov 24 protest with special command centre container
PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) is ramping up preparations for its November 24 protest, unveiling a specially equipped container to serve as the command center for the demonstration. The container is reportedly outfitted with a sound system, conference room, washroom, and bedroom, providing a mobile base for key PTI leaders, including Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur. From this hub, speeches will be delivered, and protest coordination will be managed. The protest stems from an earlier announcement by Imran Khan’s sister, Aleema Khan, on November 13, stating that Khan had given the “final call” for the
demonstration. She underscored the protest’s purpose, declaring it a fight for the nation’s freedom. Chief Minister Mahmood Khan reaffirmed that the protest would not end until PTI’s demands are met, calling it a decisive moment. Barrister Saif, KP’s Information Advisor, labeled the protest as a turning point with the potential to significantly impact the current political landscape. Echoing similar sentiments during a rally in Swabi on November 9, Gandapur urged party members to prepare for a historic showdown. Sources reveal that Imran Khan’s wife, Bushra Bibi, is also actively involved in the preparations, overseeing mobilisation efforts in Peshawar. STAFF REPORT