What has been happening to our economy for the past 100 days is what a professional street woman could not have withstood for a night. Consider the following: First, 38 per cent of our labour force is employed by our textile sector. Second, nearly 50 per cent of all manufacturing in this country is done by our textile sector. Third, textile exports stand at 62 per cent of our total exports. Now imagine; the textile sector is on the verge of collapse.
For an average textile spinning unit, energy costs have gone up by Rs4 million a month and wages by Rs1 million a month. Two out of every three spinning units are no longer able to breakeven. Over the past seven years, when lending rates were as low as 3 per cent to 4 per cent, Pakistan's textile industry had invested some $5 billion into expansion and modernization. Interest rates have since shot up to 13 per cent increasing interest costs of an average textile unit by Rs100 million a year. Industry leaders now insist that half of the 310 spinning units will shut down within the next three months.
If our textile sector is on the verge of collapse then the future of 38 per cent of Pakistan's labour force is at stake. If our textile sector is on the verge of collapse then the future of our entire manufacturing sector is at stake. Some $10 billion worth of exports are also at stake.
Is the government worried? What a stupid question. The real question is: where is the government? More precisely; just who is the government? Imagine; our soft-spoken, hard-thinking minister of finance was not taken on board when the rate of gas was jacked up by a colossal 68 per cent (for captive power plants).
On March 25, Syed Makhdoom Yousuf Raza Gilani took the oath of office. That day the value of all commercial entities listed on the Karachi Stock Exchange (KSE) stood at Rs4.6 trillion. In exactly 100 days, the value of all commercial entities listed on the KSE went down to Rs3.6 trillion. Pakistan is poorer by a trillion rupees; that's like becoming poorer by Rs10 billion a day every day for the past 100 days.
On March 25, Syed Makhdoom Yousuf Raza Gilani took the oath of office. That Tuesday a dollar was worth Rs62.2. In exactly 100 days, the rupee lost a depressing 12.5 per cent. If the trend persists then in another 100 days a dollar will be worth a distressing Rs80 (someone from Multan once told me a way to win both in this and the world hereafter; pray five times a day and buy dollars).
On March 25, Syed Makhdoom Yousuf Raza Gilani took the oath of office. That day Pakistan's foreign currency reserves stood at $13 billion. In exactly 100 days, we have lost a hefty $3 billion, a wholesome $30 million a day every day for the past 100 days. If the trend persists then in another 300 days we will be down to zero. Our import cover, in the meanwhile, stands at a jittery 3.2 months (India's reserves stand at $314 billion).
Admittedly, the current government's entire burden is inherited liabilities. The Musharraf-led junta, in preparation for elections, emptied the treasury by sustaining some Rs500 billion worth of subsidies. Yes, Syed Makhdoom Yousuf Raza Gilani had taken over a bankrupt treasury but his government is yet to take a step to stop the rot.
Do we have to scream till we are blue in the face? America has moved aircraft carrier USS Abraham Lincoln from the Persian Gulf to the Arabian Sea. Yes, there's nothing blooming but someone has got to stop the rot. Our government wedded to its factory of delusions. Their delusions producing nothing but 'scars and broken dreams'. Our world falling apart. Are they waiting till we meet our end? Please stop the clock, stop the rot. Goodbye, Peshawar. Goodbye, economy. Goodbye, politics. Hello Taliban.
<b><i>The writer is an Islamabad-based freelance columnist. Email: farrukh15@hotmail.com</b></i>
<b>ISLAMABAD, July 21 : <span style='color:red'>Pakistan has diverted its global trade worth $4.132 billion towards India following inclusion of 438 new importable items in the positive list during the past 10 months, officials told Dawn on Monday.
The expansion in the tradable list came in the backdrop of the composite dialogue launched in 2004, the forum which India successfully used for the benefits of their businessmen, while no progress has been made on the thorny issues including Kashmir, water barrages etc.</span></b>
Commerce and Defence Minister Ahmad Mukhtar said Pakistan was in the process of âgradually liberalisingâ trade with India. âComposite dialogue process, especially on economic and commercial cooperation, has been instrumental in addressing the bilateral issues,â he added.
Official figures available with Dawn showed that Pakistanâs tradable list with India had 591 items in 1997, but it has been enhanced to 1,938 items in 2008. The government added 302 items to the list in October 2007 and 136 items in July 2008.
This expansion has widened Pakistanâs trade deficit with India to $893 million in 2006-07 from $73.736 million in 1999-2000. With the substantial expansion in the tradable list, the deficit is likely to reach $1.5 billion in 2007-08, when the final figures are finalised.
The figures for July-March 2007-08 showed Pakistanâs trade deficit with India stood at $1.095 billion.
Pakistan exported $200 million worth commodities to India in the July-March period of 2007-08, while the value of imported goods reached $1,295 million during the period under review.
Pakistanâs exports to India are stagnated between $200 million to $400 million despite the fact that New Delhi has granted MFN status to Islamabad.
A diplomatic source said, âIndia is satisfied with the constant expansion in the tradable items list. Whatever they want they get from Islamabad.â
Indian side never stressed for the MFN status as they were aware of the fact that the expansion in the positive list would serve their interest.
âMFN status has become just a political issue, which will lose its importance with the passage of time as Pakistan would keep on expanding the positive list to meet their demand,â he said.
Indians did not challenge the issue at WTO because they knew that they would lose the case.
Meanwhile, in a significant shift of policy, Pakistan also unilaterally announced measures in the trade policy to encourage Indian investment in manufacturing of CNG buses.
The government had already withdrawn the 15 per cent duty on the import of CNG buses in the budget 2008-09.
An official in the Board of Investment on condition of anonymity told Dawn that there was no law, which could bar Indian investment in Pakistan.
Pakistan has a liberal investment policy, but the official said generally both countries discouraged bilateral investments. It is not just for CNG buses the Pakistan government is also signalling its readiness to embrace Indian investment in other sectors.
The government has invited at least three Indian companies -- Tata, Reliance and Essar -- to a meeting of potential investors in the power sector to discuss the development of the Thar Coal Power Project. The meeting is due to be held in late July or early August.
Pakistanâs efforts at liberalisation of trade with India appear to be in line with the sentiments voiced by PPP co-chairman Asif Ali Zardari that the new government wanted to improve economic relations and would not allow the differences on Kashmir to come in its way.
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>GENEVA : Pakistanâs core problem is that its international financial reserves have tumbled down from $7.7 billion to $6.5 billion since June 2007, while the value of rupee against dollar eroded by 20 percent in the same period.</b>
A senior official of the World Bank in an interview here told this. To a question that Pakistanâs economy was presently facing many problems and whether WBâs talks on a package related to the restoration of Pakistan economy, he underlined the need for implementing the stringent financial and monetary policies for controlling inflation and cutting down the external and internal deficits. <!--QuoteEnd--><!--QuoteEEnd-->
<b>ISLAMABAD : Intelligence Bureau and Inter-Services Intelligence have been placed under the control of Interior Division with immediate effect, an official press release said on Saturday.</b>
The press release reads as: "In terms of Rule 3(3) of the Rules of Bussiness, 1973, the Prime Minister has approved the placement of Intelligence Bureau and Inter-Services Intelligence under the administrative, financial and operational control of the Interior Division with immidiate effect according to a memorandum issued by the Cabinet Division."
<b>Taliban occupy 3 posts</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KHAR, July 25: Taliban militants took control on Friday of three security posts abandoned by paramilitary forces along the Afghan border in Bajaur.
Sources said that Bajaur Scouts had vacated the posts in Kaga Pass, Da Mangi Pass and Laiti in Mammond tehsil.
An official told Dawn that the posts were located in areas which had no strategic importance.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>ISLAMABAD (July 27 2008) : The country is short of 2.4 million tons of wheat production target of 24 million tons fixed for 2007-08, and the country has barely achieved 21.6 million tons production, according to the third and final estimate for 2007-08 wheat production,</b> sources told Business Recorder here on Saturday.
<b>The average wheat yield in Pakistan has been stagnant for the last seven years while the population has increased significantly, widening the gap between demand and supply of this staple food.</b> Flawed policies in the past led to wheat shortages in the domestic market in spite of a surplus crop. In 2006-07, the government announced a bumper crop of 23 million tons, which was in excess of domestic demand.[/b]<!--QuoteEnd--><!--QuoteEEnd-->
Dawn-
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Militants kill three Pakistani intelligence officials MINGORA</b>, July 29 (Reuters): Pro-Taliban militants killed three army intelligence officers in an ambush in northwestern Swat Valley, officials said uesday, delivering a serious blow to a peace accord signed in May to end violence. The three officials, believed to be from an army intelligence agency, were returning to Mingora, when gunmen sprayed their vehicle with bullets late Monday, killing them on the spot. A spokesman for Fazlullah's group accepted responsibility. Militants have stepped up activity in recent weeks, accusing the government of failing to honour an accord. The government officials confirmed the incident, but refused to say to which security agency they belonged. After the attack, security forces fired mortar bombs on militantsâ hideouts and arrested six suspects in a search operation early on Tuesday. (Posted @ 11:20 PST)<!--QuoteEnd--><!--QuoteEEnd-->
Dawn
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Pakistan clash kills 25 Taliban, 5 soldiers</b> MINGORA, July 30 (Reuters): Twenty-five Taliban militants and five soldiers were killed in a fierce clash in Swat valley in Pakistan's northwest on Wednesday, the military said. The fighting broke out after about 70 militants attacked a security post in Ucharai Sar area near Matta, a militants stronghold ants in the region. âThe attack was successfully repulsed, resulting in the death of 25 miscreants,â the military said in a statement. It said one officer was among the five soldiers killed. A spokesman for militants led by cleric Fazlullah, confirmed the clashes but said only one of their fighters was killed. Separately, militants shot and killed an Afghan woman accused of being a U.S. spy in Pakistan's North Waziristan tribal region on the Afghan border.<!--QuoteEnd--><!--QuoteEEnd-->
Pakistani authorities have launched an emotional advertisement campaign to persuade the local Taliban to end their campaign of bombing and burning girls' schools in the troubled northwestern Swat valley.
The advertisement, published in several Urdu-language newspapers, features the picture of a weeping girl who is dejected at being deprived of the basic right to education. The girl also prays for the reformation of militants bent on opposing the education of females in Swat.
"Oh God, attaining education is my basic right, but some extremists in violation of thy orders and religious teachings have become enemies of girls' education. To them, girls have no need to get education. They are bent upon snatching our basic right from us," reads the advertisement issued by the North West Frontier Province government.
<b>Indian envoy, Zardari review bilateral ties</b>
Nirupama Subramanian
ISLAMABAD: Indian High Commissioner in Pakistan Satyabrata Pal called on Pakistan Peopleâs Party co-chairman Asif Ali Zardari on Wednesday amid the undercurrent of tension, since the Kabul Indian Embassy bombing, that is threatening to undermine the four-year-old peace process between the two countries.
âIt was a review of where we stand in the bilateral relationship. We wanted to keep him informed of what we have been discussing in the bilateral context,â Mr. Pal said.
India said earlier this month that the composite dialogue process had come under strain, asserting that it had evidence to show that Pakistanâs ISI was behind the Kabul attack.
The meeting between the Indian envoy and the PPP leader, who is seen as the âreal Prime Ministerâ of Pakistan followed the most serious violation of the 2003 ceasefire on the Line Of Control.
The 16-hour exchange of fire between troops of both sides that began on Monday and continued into the next day resulted in the killing of an Indian soldier. There have been nearly a dozen incidents on the LoC since the beginning of this year, and the frequency has shot up since the PPP-led coalition came to power.
Hours before Mr. Zardari and Mr. Pal met, India levelled fresh charges against Pakistan of violating the truce once again on Wednesday. The accusation was denied by the Pakistan Army spokesman who said no incident had been reported from âanywhere on the Line of Control today [on Wednesday].â
Mr. Pal declined to give details about his meeting with Mr. Zardari, saying only that he âspoke him on the full range of what we are engaged in with his government.â
<b>Protocols vanish during Pak PM's US trip</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->While walking this distance, Gilani and his wife 'were seen quite perturbed as neither there was an ordinary carpet nor the customary red carpet, as is usual on official visits', The News daily reported.<!--QuoteEnd--><!--QuoteEEnd--> <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KARACHI: Deep inside a part of Landhi, where even a jeep struggles to cross, lies state-of-the-art technology which will use buffalo dung to change the economics and environment of the locality.<!--QuoteEnd--><!--QuoteEEnd-->
Today one of those free local papers in my city had a picture of a professional recycler (old bearded man wearing skull cap, shalwar-kameez) going through a huge mountain of trash in Pakistan.
Would have loved to post it here in honor (and dignity) of our good friends from the occupied part of Bharat who keep telling us how great and clean their Lota-Mughalistan Paradise is. <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->
Pakistanis Aided Attack in Kabul, U.S. Officials Say
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->American intelligence agencies have concluded that members of Pakistanâs powerful spy service helped plan the deadly July 7 bombing of Indiaâs embassy in Kabul, Afghanistan, according to United States government officials.
The conclusion was based on intercepted communications between Pakistani intelligence officers and militants who carried out the attack, the officials said, providing the clearest evidence to date that Pakistani intelligence officers are actively undermining American efforts to combat militants in the region.
<!--QuoteEnd--><!--QuoteEEnd-->
Virenji have a look at this evenings first lead story in the CNN
Quote
Pakistan denies 'hellacious' bomb accusation
Story Highlights
Pakistan denies report that its spy agency helped plan bombing of Indian Embassy
Gen. Athar Abbas said the "hellacious report" was an "effort to malign the I.S.I."
New York Times quoting U.S. sources reported agency was involved
India and Afghanistan have both accused Pakistan on involvement in the attack
(CNN) -- Pakistan on Friday strongly denounced a report that the country's spy service helped plan the July 7 bombing of the Indian Embassy in the Afghan capital of Kabul.
The New York Times, sourcing U.S. government officials, reported Friday that intelligence officials made the determination "based on intercepted communications between Pakistani intelligence officers and militants who carried out the attack."
Pakistani Gen. Athar Abbas said the "hellacious report" was an "effort to malign the I.S.I," --Pakistan's Directorate of Inter-Services Intelligence. The bombing killed 58 people.
"The ISI is a very disciplined organization, manned by military officials. It has played the most crucial role in the war on terror and apprehended members of al Qaeda, the Taliban, and those linked to the attack on mainland America on 9/11," Abbas said.
Abbas said "despite our insistence, no evidence has been provided to us about these allegations."
Afghanistan claims Pakistan informally supports militants operating from havens in Pakistan's lawless tribal regions near the porous 1,500-mile border the two countries share.
Earlier this month, Afghan lawmakers directly accused Pakistan's I.S.I. in connection with a string of attacks in Afghanistan. Among these were the Kabul strike and an assassination attempt on Afghan President Hamid Karzai at an April 27 military ceremony.
India has previously blamed militants from Pakistan for the July 7 car bombing at the embassy.
The New York Times report also sourced the U.S. officials as saying "there was new information showing that members of the Pakistani intelligence service were increasingly providing militants with details about the American campaign against them, in some cases allowing militants to avoid American missile strikes in Pakistan's tribal areas."
Pakistan and Afghanistan have a tumultuous past. During the Soviet occupation of Afghanistan in the 1980s, religious schools in Pakistan helped train fighters who battled the Soviets.
After the Taliban took over Afghanistan in 1996 and imposed fundamentalist rule, Pakistan was one of the few countries that recognized the regime diplomatically.
It dropped its support after the September 11, 2001, terrorist attacks on Washington and New York.
Pakistan also has a troubled history with India, and in the past India has accused the I.S.I. of supporting militant separatists in Indian-administered Kashmir, which has been the root of two wars between them.
All AboutPakistan ⢠Afghanistan ⢠Espionage and Intelligence
Such media leaks by the present US administration is a welcome development as far as we Indians are concerned. In the past, the US never highlighted such news to keep Pakistan pleased. Perhaps the change in attitude can only be attributed to US frustration in containing violence in Afganistan.
Ravishji, pray the US officials blaming Paks is not mere lipservice. It's newsworthy. And NYT reporting it. And the timing of this which is intriguing. Why now? This has being going on for over 5 years now - US frustration in regards to Afghanistan, FATA, Wanna, etc. Is local Presidential elections in play here?
John Stewart had a funny show on showing clips of McCain saying - '<i>I'll follow OBL to gates of hell</i>' and another clip of McCain saying '<i>I won't pursue OBL in Pakistan</i>'. Maybe hell's a tad better compared to Pakistan as it's been joked on cyberspace? Obama's stated that he'll chase bad guys in Pakistan but than he's promised us a lot of goodies if elected.
Or may be Bush has started considering Olâ Abeâs advice : You can Fool Some People all the Time and you can even Fool All the People for Some Time but you Cant Fool All the People All the Time.
Ek Din Aisa Aavay Hai Ki Chandan Bhi Aag Ugalney Lug Jaavay Hai!
08-01-2008, 09:37 PM (This post was last modified: 08-01-2008, 09:37 PM by Shambhu.)
<!--QuoteBegin-Viren+Aug 1 2008, 09:06 PM-->QUOTE(Viren @ Aug 1 2008, 09:06 PM)<!--QuoteEBegin-->John Stewart had a funny show on showing clips of McCain saying - '<i>I'll follow OBL to gates of hell</i>' and another clip of McCain saying '<i>I won't pursue OBL in Pakistan</i>'.
[right][snapback]85574[/snapback][/right]
<!--QuoteEnd--><!--QuoteEEnd-->
I admire McCain for his straightforwardness..he will follow OBL right upto the Pak-Afghan border, but not any further. See? Right upto the gates of hell, but not quite into hell. He is saying it upfront onlee. <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo--> <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->
<b><span style='color:red'>Pakistan's government has said it needs to purge Taleban sympathisers from within the ranks of the country's intelligence service - the ISI.
The statement comes amid claims from the US and India of links between the ISI and Islamic extremists.
Analysts say it is the first time that the Pakistan government has made such an admission.</span></b>
US officials have claimed that spies in the ISI helped plan the recent suicide attack on the Indian embassy in Kabul.
Pakistani government spokeswoman Sherry Rehman said "individuals" in the ISI were probably acting on their own and going against official policy.
She said Pakistan needed to "identify these people and weed them out".
The BBC's Syed Shoaib Hasan, in Islamabad, says it is the first time a member of the Pakistan government has talked about the ISI in this manner.
However, Ms Rehman said there was no proof of ISI involvement in last month's bombing of India's embassy in Kabul.
There was no immediate response from the Pakistani military.
08-01-2008, 10:45 PM (This post was last modified: 08-01-2008, 10:46 PM by Naresh.)
<b>Dear All :</b>
I am sure you all - with a great sense of consternation, disgust, dismay, frustration etc. (putting it mildly) - must have read the News of Gropper Gilaniâs Squeeze Sherry Rehmanâs statement âPakistani government spokeswoman Sherry Rehman said "individuals" in the ISI were probably acting on their own and going against official policy.â
On reading the above in conjunction with the US Press accusing Pakistanâs involvement in the Blast at Indiaâs Kabul Embassy with the statement âAmerican intelligence agencies have concluded that members of Pakistanâs powerful spy service helped plan the deadly July 7 bombing of Indiaâs embassy in Kabul, Afghanistan, according to United States government officialsâ what do you think will be the Indian response.
Will the Indian Government stop the Visas for the annual 120,000 Pakistani Visitors to India and take other stringent steps or will our People see the Indian Prime Minister offering another âMillions upon Millionsâ of Confidence Building Measures to Terroristan.
<b>Note :</b> I will not indulge in Name Calling etc. and request fellow Members to keep the Decorum of this Forum to the High Standards it usually maintains.
tupid--><img src='style_emoticons/<#EMO_DIR#>/pakee.gif' border='0' style='vertical-align:middle' alt='pakee.gif' /><!--endemo-->[/center]
--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->