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Pakistan : Terrorist Wahabi Islamic Rep Pakistan 7
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[url="http://www.thenews.com.pk/Todays-News-9-140987-Dollar-run"][center][color="#006400"][size="7"]Dollar run[/size] - [size="4"]Dr Farrukh Saleem[/size][/color][/center][/url]



Fact 1 : We need $12 billion to survive the following 12 months; $5 billion to finance the current account deficit and $7 billion to repay out debts (principal and interest).



Fact 2 : We need $24 billion to survive the following 24 months; $10 billion to finance the current account deficit and $14 billion to repay out debts (principal and interest).



Fact 3 : As of October 12, net foreign exchange reserves at the State Bank of Pakistan (SBP) stood at $9.8 billion.



[color="#FF0000"]Fact 4 : The SBP’s net reserves include a billion dollars worth of Special Drawing Rights (SDRs), [size="5"]a couple of billion dollars of gold reserves and an additional billion or two of ‘parked reserves’ belonging to a few friendly countries. In all probability, SDRs, gold and ‘parked reserves’ can be used neither to pay for imports nor for the repayment of non-IMF debt.[/size][/color]



Probable scenario: Within a month of the caretaker government’s tenure, Pakistan will be in a state of ‘financial emergency’. By Election Day, the SBP’s foreign exchange reserves will be just about enough to cover a mere two months’ imports.



Worst-case scenario : [color="#FF0000"]By the third quarter of next year, the SBP will be unable to pay our $12 billion oil import bill.[/color]



Probable impact : Capital flight and a ‘run on the banks’. Pakistanis, fearing a rapid devaluation in the value of the rupee, will rush to convert their rupees into dollars in addition to withdrawing their dollars from Pakistani banks and sending the same to foreign destinations.



Probable SBP action: The SBP will be forced to come out and save the rupee from a free fall. It will be left with no option but to hike the rate of interest in order to support the falling rupee. A double-digit rate of interest would further slow down the economy leading to additional unemployment, a further decrease in tax collection, a double-digit budgetary deficit and a much higher incidence of frustration all through Pakistan (the countrywide individual frustration may turn into collective aggression right after the election).



Probable American game plan : Keep the Asian Development Bank (ADB), Pakistan’s largest source of loan funding, away from Pakistan. Keep the World Bank, Pakistan’s second-largest source of loan funding, away from Pakistan. Keep the International Monetary Fund (IMF) from bridging our current account deficit. In the meanwhile, on September 13, US Secretary of State Hillary Clinton rather quietly issued a ‘national security’ waiver on conditions imposed by the United States Congress that may have blocked $2 billion worth of American aid to Pakistan. [color="#FF0000"]Lo and behold, the only lap left for us to find any comfort will be Uncle Sam’s.[/color]



Possible saviours : Coalition Support Funds (CSF), the auction of 3G licenses and long overdue payment from Etisalat. To be certain, the government has been trying to auction off 3G licenses for the past couple of years, expecting that the auction will bring in $800 million. A similar amount of $800 million has been appearing in the budget documents as an expected payment from Etisalat. Other than the three saviours, there is absolutely no will to undertake deep, surgical reforms without which we’ll continue our decent into the abyss.



Someone intelligent once said, “Don’t worry about the world coming to an end today. It’s already tomorrow in Australia.”



The writer is a columnist based in Islamabad. Email: farrukh15@hotmail.com



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[url="http://www.hindustantimes.com/world-news/Pakistan/At-least-1-killed-14-hurt-as-suicide-bomber-targets-Pak-Rangers-HQ/Article1-956498.aspx"]At least 1 killed, 14 hurt as suicide bomber targets Pak Rangers HQ[/url]
Quote:A suicide bomber rammed an explosives-laden truck into the headquarters of the Pakistan Rangers, a paramilitary force, in the southern port city of Karachi today, killing at least one person and injuring 14 others, police and witnesses said.
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[url="http://www.thenews.com.pk/article-74757-Iqbal-Day-being-observed-toady"][center][color="#006400"][size="5"]Iqbal Day being observed[/size] [size="7"]toady[/size][/color][/center][/url]



LAHORE : The 135th birth anniversary of the Poet of the East, Allama Muhammad Iqbal, is being observed today with traditional reverence, Geo News reported.



There is a public holiday in the country and the day began with the change of guards ceremony at the tomb of Allama Iqbal. Thereafter, Pakistan Navy contingent took positions outside the Iqbal tomb replacing Pakistan Rangers.



Pakistan Navy Station Commander, Akbat Naqi and Lahore DCO Nurul Amin Mengal inspected the march past of both the contingents of guards, laid wreaths on the tomb and offered fateha. Other high officials and citizens of the city alos attended this ceremony.



National flag are hoisted on all major government buildings. TV channels airing special programmes dedicated to the life and achievements of the national poet. Social, literary and educational institutions have planned to organise various programmes to highlight the poetic, literary, educational, social and political contribution of the thinker who aroused revolutionary spirit in the nation through his poetry.



Ceremonies are being held in schools, colleges and universities, highlighting various aspects of the life and achievements of Iqbal. An exhibition of the personal belongings and letters of Allama Iqbal has been arranged at the National Museum of Pakistan in Karachi. Born in Sialkot on November 9, 1877, Iqbal, a great legislature of subcontinent and important personality of Pakistan movement had given the message of hope, self-respect and education. The world renowned poet and philosopher, Allama Iqbal is also distinguished for the fact that his poetry has been translated in many languages including Spanish, Chinese, Japanese, English and Hindi. Iqbal’s message had inspired Quaid-i-Azam Muhammad Ali Jinnah and gave a fillip to struggle for the creation of Pakistan.



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http://www.faithfreedom.org/features/let...ing-video/
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[url="http://www.thefridaytimes.com/beta3/tft/article.php?issue=20121130&page=3"][center][color="#006400"][size="6"]'Water war', Pakistani style -[/size] [size="4"]Khaled Ahmed[/size][/color][/center][/url]



Pakistan first thought it could go for arbitration over India's Wullar Barrage on Jhelum River under the Indus Waters Treaty (1960), [color="#FF0000"]but the lawyers in New York told Islamabad it did not have a good case.[/color] Then it went for arbitration over the Baglihar Dam on Chenab River [color="#FF0000"]and lost the case[/color]. The latest development this year is that it raised a storm over India's Nimoo-Bazgo Dam on Indus River, [color="#FF0000"]only to be advised that it would lose at the more expensive Court of Arbitration.[/color]



November 2012 was a milestone month in the process of Indo-Pak normalisation of relations through free trade under a SAARC commitment called SAFTA. The month saw a thoughtful event staged by Beaconhouse National University in Lahore. It hosted a seminar India-Pakistan Relations: Prospects and Challenges jointly with India Pakistan Retired Soldiers Initiative for Peace (IPSI).



Among the positive aspects of the new relationship addressed by the two sides were two outstanding issues: Kashmir dispute and the quarrel over river waters. The river waters issue was raised by the Pakistani side along with the perennial Kashmir dispute; it received a measured response from the other side. Similar points were raised by the Pakistani side when an Indian chambers of commerce delegation visited Lahore earlier.





The year 2011 can be described as a critical period of media hype about yet another alleged Indian trespass into the waters apportioned to Pakistan under the Indus Waters Treaty (1960) although the war cries had been gathering strength during 2010, centring on the Pakistani Indus Waters Commissioner Jamaat Ali Shah.



Jihadi periodical Jamaatud Dawa newspaper Jarrar (5 March 2010) reported that the people of Pakistan thought that Pakistan's Indus Water Commissioner Jamaat Ali Shah was bodily a Pakistani [color="#FF0000"]but his tongue spoke the language of Hindus. He had not stopped making the strange statement (darfuntani) that India had not stolen Pakistan's water.[/color] Jamaat Ali Shah was getting his salary from Pakistan but working for India, the paper said.



Unfortunately, Jamaatud Dawa took out a procession on Lahore's central mall in February 2010, its leader Hafiz Said making provocative speeches. Later the Chief of the Army Staff and the Prime of Pakistan also raised 'the issue of waters' in their statements.



Reported in Nawa-e-Waqt (3 June 2010) a seminar held by Nawa-e-Waqt Group of newspapers decided that Pakistan's Indus Waters Commissioner Jamaat Ali Shah was no longer speaking for Pakistan but was defending the Indian position on the stealing of river waters by India through 62 dams. Speakers including such "illustrious" men as Ambassador (Retd) Javed Hussain who said that India was stealing one crore forty acre feet of water and that the Indus Water Treaty was only good for the 1960s but today India's water aggression could lead to an Indo-Pak war that would soon turn into a nuclear world war.



Nawa-e-Waqt further reported that Indus Waters Treaty Commissioner Jamaat Ali Shah, while leaving for New Delhi to talk about waters shared by India and Pakistan, said that Pakistan was getting its share of waters under the Indus Treaty and that building a dam was the right of India. He said less water in Pakistani rivers was because of lack of rain, not because India had blocked it. The statement was a shock to many who thought India was waging a water war against Pakistan.



Quoted in Jang, Indus Water Commissioner Jamaat Ali Shah said in Lahore that Indus Water Treaty between Pakistan and India was an unhappy marriage over the years. He said India was preparing to build 25 to 20 dams on the rivers given to Pakistan. Although the dams were allowed by the treaty India should act on the spirit of the Treaty and agree to amend the amount of water given by the treaty to India from three Pakistani rivers. The reason was that the water flow in these rivers had decreased.



Reported in Nawa-e-Waqt (16 Dec 2010) Jamaat Ali Shah Pakistani's Indus Waters Commissioner under the Indus Treaty was made OSD by the PM after many years in service once considered meritorious. He was made the commissioner in 1993 and was on the job till 2010 while India changed four commissioners during this period. Zahurul Hasan Dahir of the anti-India lobby said Shah had accepted Indian influence and had allowed Indian dams to be built on rivers belonging to Pakistan.



Reported in Jang (5 Jan 2012), Indus Waters ex-commissioner Jamaat Ali Shah facilitated the building of India's illegal Nimoo-Bazgo dam so that Leh could get electricity which means that Indian soldiers at Siachen would get the benefit of more comfort through use of electricity.



Quoted in daily Pakistan (4 Jan 2012), former Indus Waters Commissioner Jamaat Ali Shah said in Canada that he was surprised by news that he had run away to Canada after violating exit-control orders against him. He said he had come to Canada to look after his ill mother and despite retirement from his job he had informed the concerned authorities before departing Pakistan. He said he was available to answer any charges.



On 23 January 2012, the Ministry of Water and Power and its subordinate institution - the Water and Power Development Authority (WAPDA) - started probing deeper into the alleged involvement of former Indus Water commissioner Jamaat Ali Shah in allegedly "facilitating" Indian authorities to construct the controversial Nimoo-Bazgo hydropower project. FIA swooped down and took control of the office of the Commissioner and began pouring over its files.



Dawn (16 April 2011) reported: 'Intelligence agencies seized on Friday the record of at least two federal ministries to investigate an alleged institutional lapse of not raising objections over Indian aggression on the country's water rights and securing international carbon credits on hydropower projects disputed by Pakistan'.



A preliminary report maintained that the former water commissioner did not play his due role and remained silent over the Nimoo-Bazgo hydropower project (built by India during 2002-2009) and did not raise any objections during the Pak-India meetings. But surprisingly, the commission started pursuing the project vigorously at all levels when it was known that it would be impossible to change the design of the project after its completion. The 57-metre-high controversial Nimoo-Bazgo hydroelectric project is being developed in the Leh district on the Indus River and it is a run-of-the-river power project on the Indus River situated in village Alchi, 70 kilometres from Leh.



Express Tribune (3 January2012) reported: 'Pakistan is gearing up for yet another legal battle over India's 'aggression' on the country's water rights and securing international carbon credits on hydropower projects disputed by Pakistan. The latest case under dispute is the construction of the controversial 45-MW Nimoo-Bazgo hydropower project on the Indus River by India, after Prime Minister Yousaf Raza Gilani approved challenging the project in the International Court of Arbitration (ICA)'.



Daily Times (18 July 2012) reported that the federal government had decided not to file a lawsuit in the Permanent Court of Arbitration-International Court of Arbitration (PCA-ICA) in Hague regarding its concerns and grievances over the controversial 45MW Nimoo-Bazgo hydroelectric power project.



Annexure C of the Indus Waters Treaty is about India's right to divert certain amount of water in certain months from the Western Rivers given to Pakistan. There is also no bar on the building of water storage for electricity production or any other non-consumptive use on Western Rivers (Annexure E). [color="#FF0000"][size="4"]If anyone complains in Pakistan about India building dams and taking some water out of our rivers, he speaks out of ignorance.[/size][/color]



Brahma Chellaney in his book Water: Asia's New Battleground (Harper/Collins 2011) remarks: 'Foreign Minister Shah Mahmood Qureshi told a national news conference in April 2010 and said: [color="#FF0000"]"Is India stealing that water from you? No, it is not. Please do not fool yourself and do not misguide the nation. We are mismanaging that water".[/color] Despite his confession, the Pakistani government has continued to spotlight water as a contentious bilateral matter. One possible reason for its raking up the water issue in recent years is that [color="#FF0000"]it helps Pakistan to redirect attention away from India's focus on cross-border terrorism emanating from Pakistani territory as the core concern' (p.223).[/color]



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[url="http://tribune.com.pk/story/473100/imf-says-forex-reserves-below-adequate-levels/"][center][color="#006400"][size="6"]IMF says forex reserves below adequate levels[/size][/color][/center][/url]



ISLAMABAD : The International Monetary Fund (IMF) has warned that [color="#FF0000"]Pakistan’s foreign currency reserves have fallen below adequate levels and the country stands exposed to serious challenges[/color] while urging the government to undertake deep structural reforms.



In a statement issued on Thursday, the IMF said that [color="#FF0000"] the foreign currency reserves, held by the State Bank of Pakistan declined last month to below $10 billion, which is “below adequate levels.”[/color]



It further added that the reserves would deplete to just $7.4 billon by June 2013, [color="#FF0000"]sufficient to meet only two months import bill.[/color]



The statement was issued after the IMF Board concluded discussions and evaluation of the 2008 Stand-By Arrangement with Pakistan.



The statement comes at a time when the Finance Minister Dr Abdul Hafeez Shaikh is in Washington with his team to hold talks with the IMF on a future bailout programme.



The Fund said that Pakistan would miss all of its economic targets, inflation will return to double-digits again, economy will grow a mere 3.2% against a target of 4.5%, budget deficit will widen to 6.4% against a target of 4.7% and the unemployment rate will rise to 8.8%.



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http://www.pakistanchristianpost.com/hea...ewsid=3979
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http://www.pakistanchristianpost.com/hea...ewsid=3979



Police denies filing case of 6 years old Pakistani Hindu girl rape







HYDERABAD: December 4, 2012. (Abbas Kassar) A 6 years old Hindu girl Wijenti Meghwar, student of class 1 who was raped in Ghulam Nabi Shah town while playing in street yesterday was lying on death bed at civil hospital Mirpurkhas that also on intervention of PPP minister Mardan Ali Shah otherwise the doctors at Mirpurkhas civil hospital had refused to admit her and had asked for police letter from Ghulam Nabi Shah police station of Umerkot district.



But it was irony that concerned police has not registered case so far and instead of arresting the culprit involved in heinous crime of raping an infant child girl, has arrested a man whom father of girl describes as not related to crime. The relatives Iserdas, Sangeeta and others have complained that doctors at Mirpurkhas civil hospital were indifferent to her treatment.



The rape victim girl first was taken to Umerkot district hospital where there was no doctor on duty and then took her to Mirpurkhas which is on distance of 76 kilometers which cause enormous bleeding. Relatives say her condition has deteriorated due to bleeding and that the medical staff at Mirpurkhas civil hospital was giving less attention towards her recovery.



After coming to know about rape of a young child girl local PPP leader Mir Ali Raza Talpur, Fatima Baloch and Sindh Taraqi Pasand Party leaders Mehar Banglani and Nind Lal Malhi visited Mirpurkhas hospital to inquire about health of girl and warned of strong protest if accused was not arrested immediately.



The parents of girl told that the footprints of accused led to an Otaq of a powerful local Wadera as well as stiffer dogs also identified that spot, yet to mess up the matter and to save landlord, police has arrested a man named Naval to cool down the issue.
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[url="http://tribune.com.pk/story/476709/wapda-asks-for-immediate-release-of-funds-for-neelum-jhelum-dam/"][center][color="#006400"][size="6"]Wapda asks for immediate release of funds for Neelum Jhelum Dam[/size][/color][/center][/url]



ISLAMABAD : The Water and Power Development Authority (Wapda) has warned that the strategically-important 969 megawatt (MW) Neelum Jhelum hydropower project may face further delays if the government does not release $1 billion immediately. Due to prior delays, the cost of the Neelum Jhelum project has already jumped to Rs274.8 billion, from initial estimates of Rs 84.5 billion.



India is constructing the Kishanganga Dam upstream of the Neelum River, and Pakistan had reciprocally initiated the project in order to secure its rights over the river’s waters. Officials, however, seem complacent as they claim that India cannot claim rights over the river, even if it completes the dam, as the provisions of the Indus Water Treaty prohibit it from doing so. An international court of arbitration has granted a stay order preventing the permanent construction of the Kishanganga Dam.



Wapda, however, is worried nonetheless. “If the required amount is not provided, it will be impossible to complete the Neelum Jhelum hydropower project on schedule in 2016,” Wapda Chairman Syed Raghib Hussain Shah told a parliamentary panel here on Friday.



The Senate Standing Committee on Water and Power was also reviewing progress on other projects.



In his briefing, Shah also told lawmakers that 45% of every unit of power generated was lost in transmission and distribution.



While on the topic of the Kurram Tangi Dam, he said Transparency International – the global watchdog monitoring corrupt practices – had raised a red flag on the project, thereby causing it to be delayed. “Transparency International should avoid interfering in hydropower projects to avoid such delays,” Shah told the panel.



[center][Image: rs-275b.jpg?w=625][/center]



He informed the committee that the contract for the Kurram Tangi Dam will be awarded in December this year. He said that law enforcement agencies had provided ample security assistance for those working on the dam, and that work was proceeding smoothly. The project costs Rs59 billion, and negotiations with the World Bank are underway, in order to secure financing for the project.



The Wapda chairman also told the committee that the World Bank will also extend assistance for the Dasu power project, and that multilateral negotiations with other donors for the Kurram Tangi, Dasu and Bhasha dam were currently underway. He also informed the panel that the Tarbela-IV extension project will be completed by March 2013.



However, at least one lawmaker was not satisfied with the Wapda chairman’s reassurances. Senator Nisar alleged that these projects existed only on paper, and there was nothing going on the practical front. He admonished the Wapda chairman, saying that officials had been parroting the same things for the last few years, and that any indication of progress has so far remained elusive.



Later, the Peshawar Electric Power Company CEO informed the committee that line losses and power theft through ‘kunda systems’ had become a major issue for the company. He said that the police refused to assist the company in this regard; therefore, meaningful measures could not be taken and the company faced billion of rupees in losses.



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[url="http://news.in.msn.com/national/article.aspx?cp-documentid=251950351"]Pakistani troops slit throats of two Indian soldiers (Second Intro Night Lead)[/url]
Quote:Jammu/New Delhi, Jan 8 (IANS) In a brazen violation of the 2003 ceasefire, Pakistani troops Tuesday intruded into Jammu and Kashmir and killed two Indian soldiers by slitting their throats, officials said. They also opened heavy fire on Indian posts on the LOC late Tuesday.



India condemned the killings as "absolutely unacceptable" and "inhuman" and said it will give a "proportionate response", while the Pakistan Army dismissed the "allegations".



Pakistani soldiers, apparently from the 29 Baloch Regiment, took advantage of a dense fog to sneak into an Indian post in Sona Gali area in the border district of Poonch.



Poonch Deputy Commissioner A.K. Sahu said the Pakistanis killed two Indian soldiers and wounded a third. "(The) Pakistani soldiers ... slit the throats of two army soldiers."



A defence ministry spokesman said the incident took place at 11.30 a.m. "Pakistani soldiers killed two Indian soldiers, and mutilated the body of one.



"We strongly condemn the brutality with which the body was treated," the official told IANS.



There was a fresh violation of the ceasefire late Tuesday as Pakistani troops opened heavy fire on Indian posts in Krishnaghati sector of Poonch around 7 p.m. Indian troops retaliated and the gunfight was on till 11.30 p.m. There was no report of any casualty on either side.



External Affairs Minister Salman Khurshid said that the government will make it clear to Pakistan that the action of its troops was absolutely unacceptable and it needed answers.
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[url="http://www.hindustantimes.com/News-Feed/JammuSec/Pak-crosses-LoC-beheads-one-jawan-slits-another-s-throat/Article1-986762.aspx"]Pak crosses LoC, beheads one jawan, slits another’s throat[/url]
Quote:Pakistani troops crossed the Line of Control (LoC) on Tuesday to murder two Indian soldiers, cutting off the head of one and slitting the throat of the other in an incident condemned as a “grave provocation” by India.

The brutal attack threatened to set back the peace process between

At about 8.45pm, heavy firing started in the Mendhar sector, near the site of the incident and was continuing at the time of going to print. Both sides fired heavy mortars.



[Image: 09-01-12-pg01a.jpg]
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[url="http://www.hindustantimes.com/world-news/Pakistan/Pak-103-killed-over-270-injured-in-six-bomb-attacks/Article1-987974.aspx"]Pak: 103 killed, over 270 injured in six bomb attacks[/url]
Quote:A total of 103 people were killed and over 270 injured in six bomb attacks in the restive Pakistani provinces of Balochistan and Khyber-Pakhtunkhwa on Thursday, marking a sharp spurt in terrorist violence ahead of the country's next general election.



Terrorists targeted a security forces vehicle and a Shia-majority neighbourhood in Quetta, the capital of Balochistan, and a religious congregation in the Swat Valley of Khyber-Pakhtunkhwa, an erstwhile stronghold of the Taliban.



69 people were killed and over 160 injured in the worst attacks, which occurred late in the evening at Alamdar Road and Airport Road in Quetta, the capital of Balochistan.
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[url="http://www.hindustantimes.com/world-news/Pakistan/Pak-103-killed-over-270-injured-in-six-bomb-attacks/Article1-987974.aspx"]Pak: 103 killed, over 270 injured in six bomb attacks[/url]
Quote:A total of 103 people were killed and over 270 injured in six bomb attacks in the restive Pakistani provinces of Balochistan and Khyber-Pakhtunkhwa on Thursday, marking a sharp spurt in terrorist violence ahead of the country's next general election.



Terrorists targeted a security forces vehicle and a Shia-majority neighbourhood in Quetta, the capital of Balochistan, and a religious congregation in the Swat Valley of Khyber-Pakhtunkhwa, an erstwhile stronghold of the Taliban.



69 people were killed and over 160 injured in the worst attacks, which occurred late in the evening at Alamdar Road and Airport Road in Quetta, the capital of Balochistan.
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Quote:http://www.thehindu.com/opinion/op-ed/lo...epage=true



LoC firing: Defence Ministry ‘clarifies’, The Hindu responds



Praveen Swami replies:



I indeed erred in designating Brigadier G.S. Rawat as the head of the 19 Infantry Division; he was in fact the Brigade Commander of the 161 Brigade in Uri, which is part of the 19 Infantry Division. The error is regretted.



However, the rest of the Defence Ministry clarification makes little sense. It states that “as per the article, 70-year-old Reshma Bi had crossed the Line of Control on 26 September, 2011.” There is no such claim in the article. It in fact states that she crossed the Line of Control on September 11, 2012. That means there were barely six weeks between her departure and the firing, not sixteen months.



Secondly, the Defence Ministry disputes that the Pakistan Army made announcements over its public address system asking India to cease the bunker construction that followed. However, it does not dispute that it began constructing bunkers — the bone of contention which led to the clash.



Finally, it states that The Hindu charged it with staging a cross-border raid on January 6, 2013. The Hindu story made no such claim: it merely states that Pakistan alleges that Indian troops staged such a raid, along with India’s denial of this allegation.



Thus, the Defence Ministry denial concedes all key elements of The Hindu’s article — i.e., that India constructed bunkers around Charonda, which provoked a Pakistani response, leading to a clash in which Pakistani soldiers were killed, and Indian soldiers were killed in retaliation.



Interestingly, the Defence Ministry does not deny other elements of the story, such as the suggestion that both sides have engaged in cross border raids, which have on occasion included beheadings.



So basically GOI should deny turds like praveens write up, because they do not have any other work. <img src='http://www.india-forum.com/forums/public/style_emoticons/<#EMO_DIR#>/angry.gif' class='bbc_emoticon' alt=':angry:' />



While the reason is entirely looks different, 5 lac announed by Hafiz saeed for Indian jawans head, this is more believable.



Quote: http://indiatoday.intoday.in/video/india...41734.html
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[url="http://dawn.com/2013/01/15/kse-100-index-plunges-by-more-than-450-points/"][center][size="6"][color="#006400"]Pakistani[/color] [color="#FF0000"]stocks plummet amid political turmoil[/color][/size][/center][/url]





KARACHI : [color="#FF0000"][size="5"Pakistani stocks plummeted more than 500 points[/size][/color] on Tuesday as the Karachi Stock Exchange witnessed a flurry of selling in the wake of fresh political uncertainty in the country.



The benchmark Karachi Stock Exchange 100-index fell 3.16 per cent, [color="#FF0000"][size="5"]closing 525.29 points lower[/size][/color] at 16,107.89, compared to Monday’s closing of 16,633.18 points. A total volume of 170.14 million shares were traded Tuesday.



Pakistan’s Supreme Court ordered the arrest of 16 accused, including Prime Minister Raja Pervez Ashraf, on Tuesday, while firebrand cleric Tahirul Qadri led tens of thousands of protestors into Islamabad, demanding the assemblies be dissolved and the government step down immediately.



[color="#FF0000"][size="5"]Front, front watching happening is what![/size][/color]



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Maulvi Fazalullah Killed In Drone Strike
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[url="http://sanfrancisco.cbslocal.com/2013/01/28/drivers-block-traffic-on-i-880-in-oakland-to-perform-sideshow-stunts/"]Drivers Block Traffic On I-880 In Oakland To Perform Sideshow Stunts[/url]



Pakistani creating nuisance on highway in California.
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[url="http://centreright.in/2013/01/its-about-changing-maps-not-geography/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+centreright+%28Centre+Right+India%29"][center][size="6"][color="#0000FF"]IT’S ABOUT CHANGING MAPS, NOT GEOGRAPHY[/size] [size="4"]- Vinod Sharma[/size][/color][/center][/url]



You cannot change geography. This is the mantra often chanted by Indian peaceniks to explain their embrace of and love for Pakistan, the logic being that since you cannot wish away the rogue, it is best to hug him and hope for the best. Some analysts go a step further: they believe India’s interest is best served by so strengthening democratic and liberal voices in Pakistan that they become powerful enough take on and defeat the military-jihadist combine that defines and runs the state.



This is akin to giving milk to a snake in the hope that once its body becomes bigger and stronger, it will act as an antidote to the venom it carries in its head and make the snake wholly non-poisonous. That, as even a shallow understanding of the history of the sub-continent coupled with commonsense will tell you, is unlikely to happen in such a smooth, civilised manner.



The metaphorical poison, we overlook, is not isolated in a tiny gland located in the ‘head’. [color="#FF0000"]The whole body, as it were, save the small portions that we conveniently choose to highlight, is toxic, and the levels are rising rapidly.



We also make the cardinal mistake of not seeing ourselves through Pakistan’s religion-tinted eyes. Only that counts. Not our flattering, self-deceiving self-view applauded by liberals there who carry no weight or influence, and exploited with glee by Pakistani generals who take all key decisions.[/color]




Consider this : history as taught to children in Pakistani schools is designed to generate hatred towards India. Little is taught about Pakistan’s long pre-Islamic history; the focus is on the glories of Islam and Mughal rule in India. As per a detailed study carried out by the Sustainable Policy Development Institution (SDPI) of Pakistan, history text books “are “full” of material “encouraging or justifying discrimination against women, religious and ethnic minorities and other nations,” and four themes emerge from the curricula: 1. Pakistan is for Muslims alone; 2. Islamic teachings, including a compulsory reading and memorization of Qur’an, are to be included in all the subjects, hence to be forcibly taught to all the students, whatever their faith; 3. Ideology of Pakistan is to be internalized as faith, and hate is to be created against Hindus and India; 4. Students are to be urged to take the path of Jihad and Shahadat.”



Now this is not the handiwork of Mullahs steeped in Wahhabi or Deobandi inspired intolerance. This is the deliberate creation of educated Pakistanis who believe that their nation has to be defined by Islam, sustained by implacable hatred towards India and kept energised by the objective of claiming Kashmir and the rest of India in the name of Islam. It is easy to blame the Pakistani military establishment, particularly Zia-ul-Haq, for this slide into violent extremism. But, one would do well to remember that almost the entire Pakistani elite, including its civilian political leadership, is equally responsible for shaping Pakistan into the dangerous disaster that it has become today. According to some reports, in 2010 Pakistan was producing 10,000 potential jihadis annually out of 500,000 graduates from 11,000 madrassas. The numbers would have only increased since then.



These nurseries have not sprung up on their own. They have been assiduously planted and nurtured to provide extremely motivated fodder to the establishment in the furtherance of its strategic objectives. It is only natural that some such elements have turned upon Ahmediyas and Shias, after having brutally all but cleansed Pakistan of religious minorities, and signalled their determination to turn the whole state into the kind of Islamic Utopia that Osama bin Laden and the Taliban – trained and controlled by the military — had created in Afghanistan before 9/11.



If we look at non-sanitised Mughal history, the reins of two emperors stand out.



Akbar and Aurangzeb both ruled for about 50 years each. During Akbar’s time there was communal harmony and peace. Around this period the Bhakti movement also flourished, with the likes of Guru Nanak, Kabir, Chaitanya Mahaprabhu etc., preaching love and devotion for God, violence nowhere in their teachings. Guru Nanak even tried to establish a spiritual bridge between Hindus and Muslims. Aurangzeb, on the other hand, abandoned the liberal religious views of his illustrious great grandfather and attempted to impose Sharia law with the aim of converting India into a land of Islam. Destruction of temples, forcible conversion of Hindus, imposition of jazia on them, blanket ban on music etc. followed, as did many wars to expand the empire. It was on his orders that Sikh Guru Teg Bahadur was beheaded in Chandni Chowk, after being mercilessly tortured, for refusing to convert to Islam. It was primarily Aurangzeb’s atrocities that inspired Guru Gobind Singh, the Tenth Sikh Guru, to turn lambs into lions – the Khalsa – and change the course of history.



Pakistan sees itself as the modern day Aurangzeb with ambitions that exceed his. This Aurangzeb has a problem not just with Hindu India but with the entire non-Muslim world. It honestly believes that a few nukes, an Army and thousands of brainwashed and armed young boys guided by what many Muslims say is a misinterpretation of Islam, can achieve more than Aurangzeb ever could. This belief has been strengthened by the fact that a much bigger and united India has not been able to do to it what was eventually done to Aurangzeb’s empire by much smaller kings, all acting on their own.



Secular India can be said to be in Akbar’s mould, overlaid by a pathological faith in Gandhian non-violence that worked against the British but was a spectacular failure against Jinnah’s ‘Aurangzebian’ call for Direct Action in 1946.



Akbar’s Pakistan is an impossibility; it would, in fact, not have been carved out of India in the first place had the great emperor got into the DNA of Muslim leaders. Yet, India continues to fool itself that Pakistan will become such a state if its democratic institutions are strengthened. [color="#FF0000"]This belief, as we have seen, is based on the erroneous premise that the fundamentalist lobby in Pakistan is a tiny fringe.[/color] As Zia-ul-Haq, the brain behind Pakistan’s rapid radicalisation famously said, [color="#FF0000"]without Islam Pakistan would be just India.[/color] That is precisely what it did not and does not want to be. [color="#FF0000"]In Thomas Friedman’s words, Pakistan exists only to be not (Hindu) India.[/color] That is one reason why even though most Muslims are of Hindu descent, almost every single one claims Arab, not Indian, ancestry.



Since a Pakistan driven by values that Akbar embodied simply cannot emerge of its own volition from the ‘poison’ that it has consumed and carries in its head, a strong Pakistan that mirrors the ideology and methods employed by Aurangzeb can be nothing but bad news for India.



[color="#FF0000"]But there are powerful voices in India who do not want Pakistan and, thereby, the idea behind it, to be defeated.[/color] Some, in fact, want to strengthen it as they derive their own strength and bargaining power from the strength of that country. If there is no Pakistan, those who created it out of thin air will begin to look like small, obdurate men who were unable to stop living in the past, in another century and world. [color="#FF0000"]Even worse, those in Pakistan who are now trying to sustain it in that mould will show up for what they really are: men fit to rule in an ignorant 17th century, not an aware, connected 21st.[/color] Not the kind who will meekly submit to such a body blow sitting across the table.



Warnings that if Pakistan breaks up India will have to contend with fiver rogue states — and uncontrollable armed Talibanis will stream into and wreak havoc in India — are completely unfounded, if not mischievous. Deprived of funding and the patronage, protection and guidance of a powerful state hostile to India, all these radical groups will quickly dissolve into the countryside, just as similar elements did after the death of Aurangzeb.



Even Pakistan knows geography cannot be changed. But it has not forgotten that maps can be, and have been all through history. It’s own was, in 1971. [color="#FF0000"]It remains pathologically obsessed with changing India’s map — a thousand years’ war, a thousand cuts. A destructive, violent, even barbaric, energy is at work, ceaselessly. That is why you will never hear Pakistan say that a strong, stable India is in its interest.[/color] How, then, can the reverse be true?



You cannot shake hands with someone whose fist is closed. Five fingers, separated, cannot deliver a punch. India has to prise open the clenched fist.



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[url="http://tribune.com.pk/story/502719/fiscal-irresponsibility-spendthrift-govt-digs-a-massive-hole-for-the-economy/"][center][size="6"][color="#008000"]Fiscal irresponsibility : Spendthrift govt digs a massive hole for the economy[/color][/size][/center][/url]



ISLAMABAD : [color="#FF0000"]Displaying deep-rooted fiscal indiscipline, the federal government has violated the Fiscal Responsibility and Debt Limitation (FRDL) Act for the fifth year in a row, leaving critical economic reforms needed to turn the slowing economy around for the next political setup.[/color]



The Ministry of Finance has admitted the violation in a statement on fiscal and debt developments it is obligated to release. The report, which tracks developments over the last financial year (2011-12) and the first quarter of the current fiscal year, has been submitted to parliament.



Though the finance ministry tried its best to tone down the failures, the statement shows that the federal government repeatedly compromised the principles of sound fiscal and debt management as it refrained from undertaking much-needed economic reforms. The delay in reforms, particularly in energy and taxation, has led to fiscal slippages that have eventually piled up more debts.



Under the FRDL Act of 2005, the government will have to explain to parliament the reasons for compromising on principles. The statement has tried to place responsibility on international developments like the debt crisis in Europe, the fiscal cliff in the US and weak international demand.



Analysts believe that any new government will have a tough time taking necessary actions in its first days in order to put the economy back on track.



[center]

[Image: analysts-beliver.jpg?w=625][/center]



According to the Fiscal Policy Statement 2012-13, the revenue deficit has remained at 4.4% of GDP or Rs909 billion, which is in violation of the law. This is the fifth consecutive year the government has violated this clause of the act, which is meant to ensure fiscal discipline.



Similarly, clauses that call for restricting the debt-to-GDP ratio below 60% and reducing national debt by 2.5% over the debt level of the preceding year were also violated by wide margins. Instead of reducing debt by 2.5% over last year’s level of 59.3%, the government’s total public debt has increased to 61.3% by June last year, according to the statement.



In yet another violation, the government also could not double expenditures on health and education, which remain below the targeted level. The only condition that the government met is the issuance of new sovereign guarantees. As against a maximum limit of 2%, the government has issued new guarantees worth 1% of GDP.



During last fiscal year, the federal government added roughly Rs2 trillion to the debt stock – an alarming growth of 18.4% in a single year. “Increase in the outstanding stock of total debt has implications for the economy in the shape of greater amount of resource allocation towards servicing in future,” the ministry admits.



The government admitted that slippages in both revenues and expenditures have led to a historical budget deficit of 8.53% of GDP, or Rs1.761 trillion. According to the statement, revenues fell behind the target by Rs304 billion, while expenditures shot up by Rs215 billion – indicating an accumulative slippage of Rs519 billion.



Furthermore, the government missed all aspects of the Budget Strategy for 2011-12. The budget deficit could not be contained to 4% of GDP, and was instead recorded at a historic level of 8.53%. The Federal Board of Revenue’s tax target could not be achieved, tariff subsidies could not be eliminated, subsidies on food and fertiliser continued unabated and the ban on new jobs was violated for political compulsions.



The country’s primary balance – a measure of total revenues adjusted for non-interest expenditures – remained at 2.2% of GDP or Rs446 billion, indicating that the government is in a debt trap as it borrows increasingly to retire previous debts.



One of the reasons behind fiscal constraints, the ministry said, [color="#FF0000"]was that despite the devolution of 17 ministries, the federal government’s expenses did not fall as it only created more ministries and continued to finance interprovincial programmes, which brought the federation under extreme fiscal pressures.[/color]



Guidance : IN PAK RS. BILLIONS - Pakistan's Debt Q1 FY13 : P. R. 15,148.1 - GDP FY 12 : 20,653.9 -:- Thus, [color="#FF0000"]Pakistan's Total Debt is 73.34 Per Cent of the GDP.[/color] AOA!



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