Jan 292012
 

She has charm and conviction. Our correspondent sat down with the 28 years old Bushra Zulfiqar, the extremely beautiful human development activist whose memoir A Daughter’s Heart has just been released.

 Q: – A lot of media attention is coming your way since your book has been released. What is the most absurd thing you have heard about it?

A: – I am very happy about the book being talked about in so many different quarters. People have been writing fairly positive reviews too but the most absurd thing I hear is that I am too young to have written an autobiography. That boils me.

 Q: – Isn’t it quite right to say though?

A: – No, it is not. Autobiographies are real life stories and I don’t think that a certain age qualifies you to tell your story. Someone aged sixteen might have gone through a body of really powerful experiences so should that person wait to turn eighty before sharing it all? Life is short and one should not postpone much to the unreliable age arithmetic.

 Q: – You have just finished writing a book. What is the most important thing for a writer and what specifically made you interested in writing?

A: – Good reading led me towards writing. I had been an avid reader all my life, ever since the age of eight and good reading always inspired me. Words have a power of their own and the nature of this power is quite transformative. If you have someone guide and direct your reading, it is very likely to become a rewarding habit. That was my case.

As for the most important thing for a writer, I think firstly it is conviction. A writer should have something to say and the courage to say it truthfully. Writing cannot be controlled but you have to somewhere lose yourself in the process. Only then the narrative reveals itself to you.

 Q: – What are your hobbies?

A: – The little free time I have is mostly spent reading. I do like to travel and sometimes I cook as well. So not very specific hobbies but I do believe in enjoying life and spending time with my family and friends.

 Q: – What keeps you going every single day?

A: – Caffeine

 Q: – You are young, beautiful and accomplished. What else do you want from life?

A: – It is kind of you to say so but I feel life has only begun and there is so much more to learn. Living in a world which has such stark inequalities between the rich and poor, between men and women and majority groups violently pre-dominant over others, there is so much around us which needs to change. I do want to use my pen to draw attention towards the problems people of my country are facing and live a purposeful existence. So till there is life, there can be no end to that struggle.

 Q: – Any plans for settling abroad?

A: – Never say never but here I say it: Never.

Q:- Your favourite couplet?

A: – It’s a poem by Robert Frost. The woods are lovely, dark and deep. But I have promises to keep and miles to go before I sleep.

 Q: – We wish you all the success for this book and throughout the miles. It has been a real pleasure and honor to meet you. 

A: – Thank you. That’s very kind of you.

 Posted by at 10:02 pm
Jan 242012
 

National Assembly Standing Committee on Defence was informed on Monday that the second phase of the new Benazir International Airport would be completed by September 2012.

The airport is being constructed by a Chinese company, which is the world’s fourth largest construction company. The total cost of the project is is Rs 63 billion. “The first phase has been completed while the second phase will be completed by September 2012,” said a press release.

The committee meeting, chaired by Dr Azra Fazal Pechuho, was apprised that the cargo operation could be started in December 2012 and the main problem being faced in the project was the road network, which was to be completed by the National Highway Authority (NHA). The committee stressed the NHA to take appropriate steps for timely completion of the project. Continue reading »

 Posted by at 10:14 pm
Jan 182012
 

PROFESSOR ALI SUKHANVER

 

Throughout the world, Pope Benedict XVI is recognized as a symbol of kind heartedness, affection and love for humanity not only by his followers but also by a great number of Muslims. People rank him as a beacon of compassion and sympathy for the whole of humanity. In his traditional beginning-of-the-year address to diplomats at the Vaticanhe said, ‘In many countries Christians are deprived of fundamental rights and sidelined from public life; they endure violent attacks against their churches and their homes.” He urged greater religious tolerance around the world and said referring to the assassination of a Christian Pakistani minister Shahbaz Bhatti that the killing of Bhatti was ‘not an isolated case’. Shahbaz Bhatti Continue reading »

 Posted by at 5:47 pm
Jan 122012
 

AS lifestyles get busier and more packed these days, the average person is almost always faced with the temptation of giving up on sleep to get more productivity. After all, the availability of more and more part-time, particularly home-based pursuits makes money-making not only possible but also a very attractive task. Or, other people may choose to forgo sleep for social commitments, particularly after a busy week full of stressful work. While their body craves sleep, their being social beings demand longer periods of night socializing, resulting in a body deprived of sleep one way or another.
Continue reading »

 Posted by at 11:07 am
Jan 102012
 

This is my Pakistan

The News report by Shakeel Anjum

She was bitterly crying on phone begging for her life in the captivity, as she had seen her 16-year-old brother on a CD being slaughtered by kidnappers and pieces of his dead body were sent to her father by them some six years back.

Where criminals are so powerful that they manage to make the law enforcement agencies helpless and paralyse the system, the only way left for people like Shamsul Anwar is to obey them. What he did for the nation against terrorists and what he got in return from the nation on saving lives of hundreds of worshippers in a mosque as a Pakistani is a big question.

Ten, nine, eight, seven, six … countdown has started on the turn of his daughter to be slaughtered by the captors as the poor father is not in a position to pay them a huge ransom of Rs1.8 million. But he is mentally ready to receive pieces of his daughter. The captors have given him a deadline for payment of ransom and warned that his daughter would be slaughtered if he fails to meet the deadline of January 12, 2012. “Be ready to receive the pieces of your daughter too,” they warned. God forbid, he would face another doomsday on January 12, if he fails to pay the ransom.

When he was asked, the captors linked with some terrorist outfits, would kill his daughter on the publication of this report, he said, “This is my last attempt to save the life of my young daughter. In either way, I am mentally prepared to receive another gunny bag filled with pieces of my daughter’s remains.”

“I beg for the life of my young daughter from judicial, political, military and government bosses. I am a voiceless man,” Shamsul Anwar said. The only question left is whether he should proud to be a Pakistani after he was facing the trauma of life-spoiling attacks by the ‘terrorist outfits’.

The victim narrating his shocking tale told ‘The News’, “I am Shamsul Anwar and has served in the Pakistan Army as a ‘Lance Naik’ in 24-Baloch Regiment for over 17 years and got retired in 1992.

“I hail from Khasar Tang, Balool Khail, Tehsil and District Nowshera, and settled in Dhoke Gujran, Misrial Road, Rawalpindi, after my retirement as my father was running a construction business in Rawalpindi, but I preferred the transport business. I, later, included seven public transport vehicles, including cabs, in my squad and built two houses in the neighbourhood and rented out three portions while kept one portion with me to live with my wife and nine children, including two twin daughters — Madina Anwar and Mubin Anwar, 14 — and seven sons — Mohammad Yaseen Anwar, 16; Faizullah, 14; Sajid Anwar, 12; Wahed Anwar, 11; Abubakr Siddique, 9; Ibadat Anwar, 7, and 4-year-old Mohammad Mustafa.

“It was 1st of January, 2001 when I entered the Jamia Masjid of Dhoke Gujran at Misrial Road, Rawalpindi, at about 2:10 p.m. when the ‘imam’ was reciting ‘khutba’ and I was late. I rushed to the basement of the mosque to perform ablution (‘wazu’) where I saw a man who was planting some explosives packed in a steel box and he was busy in plugging wires into the detonation device. As I was an army personnel and had been serving with bomb disposal unit, I sensed the danger. I clutched the ‘terrorist’ from the back without asking any question or giving him any warning as he had plugged one wire into the device and remaining three were in his hands and he was about to put it into the detonator. I started shouting for help but nobody listened to my cries as the ‘khutba’ was being recited on the loudspeaker. In the meantime, the terrorist, carrying a gun, asked me to leave him otherwise he would shoot me but I refused to free him and entangled my left leg in between his two legs as he could not somersault me. After he observed that I was not going to release him, he started firing aiming at my leg and emptied his revolver. I sustained three bullets in my left leg and remaining three missed.

“Meanwhile, some worshippers gathered there and grabbed him as I told people that his revolver was empty. The terrorist warned me that he would teach me a lesson and make me an example. I was shifted to the CMH and the ‘terrorist’ was taken to an undisclosed place by the agencies. As many as 17 terrorists of the outfit were arrested on information provided by the nabbed ‘terrorist’. I remained under treatment for about a month and sent home with a team of security personnel of the army commanded by a JCO. The security personnel remained with me for about a year and protected my family and me stringently. Finally, the security was withdrawn.

“After about five years of the episode, the ‘terrorist outfit’ decided to take revenge and kidnapped my two sons — Mohammad Yaseen, 16, a student of 10th class, and Faizullah, 14, a 9th class student of Noor School in Dhoke Gujran — on May 15, 2006 from their school in the presence of teachers and students in broad daylight. The captors were three in number.

“I rushed to the Westridge Police Station but the SHO humiliated me and refused to take up the case, terming it a concocted story. Then, I had no option but to seek help from army where I had served for over 17 years. I contacted the Army Centre and went to BRC Centre in Abbottabad but they couldn’t help me out.

“In the meanwhile, the ‘terrorists’ contacted me on my mobile number in November 2006 after about six months of the kidnapping of my sons and demanded Rs1.4 million as ransom for the release of my sons with the threat that they would kill my sons if I informed police. I again decided to contact my ex-department and went to the commander of 4-Corps, Peshawar, who listened to me kindly and referred me to the commander of 11-Corps in Peshawar. The corps commander took immediate action and asked the political agent (PA) to take action against the ‘terrorist outfit’ active in Kurram Agency. When I met with the PA, he suggested to pay them ransom so that they could arrest the captors red-handed after the safe release of my sons but in the case of direct raid, they could kill my sons. The suggestion was good but not feasible for me, as I had not so much amount to pay the ransom to get my sons free from their trap. I remained in Kurram Agency for three days and the ‘terrorists’ kept eye on my activities as I visited the office of PA regularly. However, I came back to Rawalpindi and started collecting the amount from different sources.

“After a long pause, the captors contacted me on my mobile phone at 4 p.m. in the last week of November 2006 and said that I had cheated them and played smart against them, saying that as a reprimand, they are sending me the dead body of my son. They asked me to lift the remains of my son in a gunny bag from Shally Valley at Misrial Road. I took some neighbours with me without informing police, as police was not cooperating with me, and traced the gunny bag at about 9 p.m. lying in the low-lying area with a CD. He was my eldest son, 16-year-old Mohammad Yaseen Anwar who was slaughtered and cut into pieces. They also sent a video in which they captured the scenes of slaughtering and sawing. They put Yaseen alive on the saw-machine (wood-sawing machine) and sawed him into two pieces from middle of his head in front of my younger son 14-year-old Faizullah.

“Another episode started when the captors contacted me a couple of weeks after the burial of my son and repeated their demand of Rs1.4 million ransom with warning that my second son would be killed if I failed to meet the deadline. I had no option but to pay them ransom because I had no nerve to receive another gunny bag containing the pieces of my second son because I had found the law enforcement agencies very weak and the criminals very powerful who threw the remains of my son in my area after killing him. However, I sold out my house and some vehicles to meet the demand of ransom. So, I left for Peshawar on their direction and reached near Haji Camp in Peshawar where they asked me to wait but as I reached there, they asked me to reach Kurram Agency. I hired a taxi and arrived at the said location. In their next call, they asked me to leave the taxi and walk straight in a street where a red car was parked, put the money in the red car and wait for our next call. I followed their directions and started waiting for their call. After a few hours, they asked me to get my son from a low-lying area near mountains (Kala Paharh) in Kurram Agency. I rushed to the tip-off place but found nothing. I kept running here and there for three days but couldn’t trace my son. Finally, they informed me that my son was standing near main entrance of Kurram Agency and I found him there. He was burning with high fever when I got him. I took him to Rawalpindi and contacted the corps commander, Rawalpindi, who directed me to take the boy to the Corp Headquarters, Lahore, and finally admitted to the CMH where the doctors diagnosed blood cancer because the captors have injected intoxicating medicines into his body during one-year detention. I met Imran Khan for providing help in the treatment. He gave me Rs20,000 with a reference chit for Shaukat Khanum Hospital but the administration gave me the estimate of Rs1.2 million for the treatment. However, Chaudhry Nisar Ali Khan helped me a lot and provided financial assistance for the treatment of my ailing son. I came back to Rawalpindi and again contacted the surgeon general who told me that the only treatment was ‘bone marrow transplant’ which costs Rs3.2 million. I collected the money after selling my whole property for the surgery, which was successful.”

This was not the end of the miserable and painful story of Shamsul Anwar. The ‘terrorists’ again hit him and kidnapped his 14-year-old daughter, Madina Anwar on May 17, 2011 from her school at Misrial Road and shifted her to Kurram Agency. He reported to police and lodged a complaint with the SSP but they did nothing.

After a couple of days, he received a call from the captors who demanded Rs1.8 million for her safe release. “I am sick and tired, having no resources to generate finances.”

But Shamsul Anwar is still looking for a miracle and waiting for help from the heavens amidst cries of his daughter, who is in captivity. The brave man is waiting for the climax of the unending horrific tale. He can be contacted on his mobile phone number 0346-5524259 for any kind of help.

 Posted by at 1:44 pm
Jan 082012
 

National Investment Trust, Pakistan’s first and largest asset management company has introduced ATM card for its unit holders across the country. ATM card will enable customers to withdraw cash against instant redemption of their NIT units. NIT was formed in 1962, currently holding assets worth approximately Rs 82 billion, with around 60,000 unit holders. NIT’s distribution network comprises of 22 branches, 102 authorized bank branches all over Pakistan. Chairman and MD NIT Wazir Ali Khoja while setting the benchmark in mutual fund industry of Pakistan said NIT has been recognized as the beacon of positive change in the capital markets. NIT has led by example, with an aim to provide the necessary opportunity to all the stakeholders and to contribute towards healthy growth of the industry. The new service will definitely open new doors of convenience for NIT customers by having easy access to their cash 24 /7. Summit Bank President and CEO Hussain Lawai said “Summit Bank believes in customer satisfaction and is committed to provide innovative solutions to fulfil the financial needs not only of its own customers but also of the community at large.” NIT in collaboration with Summit Bank has introduced “Summit Bank-NIT co-branded ATM card.” NIT Unit holders will be able to withdraw cash using the entire Summit Bank ATM Network, or any 1-Link ATM network machines in Pakistan. NIT has five funds including The National Investment Unit Trust (NIUT), which is the Pakistan’s largest and oldest Mutual Fund. NI(U)T-LOC, NIT-State Enterprise Fund (NIT-SEF), NIT, Equity Market Opportunity Fund (NIT-EMOF), NIT Government Bond Fund (NIT GBF) and NIT Income Fund (NIT IF).

 Posted by at 8:40 am
Jan 042012
 

Mehmood-Ul-Hassan Khan

Under the wise leadership of the country, UAE has been in the full spring for the last 40 years, said by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum while giving an exclusive interview to CNN. It has been complete socio-economic transformation. It has been evolutionary economic development approach which has achieved elements of sustainability and strength. The ultimate goal is to be number one.

The Arab World has been under the clutches of political instability, anarchy, economic meltdown and societal unrest for the last two years. The ongoing European Union economic crisis and liquidity crunch has produced havocs in the macro-economic plans, monetary policies, political commitments and fiscal maneuverings of many member countries. Furthermore, the US economy is not in good shape.

On the other hand, UAE achieved 4.2 percent GDP in 2011. According to the Abu Dhabi Chamber of Commerce and Industry (ADCCI, 2011), GDP of the Abu Dhabi is expected to grow 4 per cent to Dh750 billion in 2012. It is forecasted that the public sector’s contribution to GDP would rise to Dh133 billion in 2012, up from Dh126 billion in 2011. ADCCI estimates also suggest that the contribution of the private sector to GDP will increase to Dh232 billion from Dh218 billion in 2011.

It is hoped that its diversification policy would bring more dividends in the 2012 as percentage of GDP. Oil’s revenue contribution in national GDP was 70 per cent in 1971 and now is reduced to only 29 per cent in 2010-2011. Dubai Economic Council study (December 2011) titled “the document of the union era” claimed that the UAE’s GDP is expected to reach at Dh1.248 trillion in current prices. It was Dh6.5 billion in 1971.

The United Arab Emirates macro-economy has been achieving new targets in every sector. There is no liquidity crisis in the UAE. Most of the countries faced huge budget deficits around the globe whereas; the UAE secured huge surplus in 2011. According to recently published Dubai Economic Council study, the UAE’s fiscal balance would record a surplus of 10.3 per cent of GDP in the current fiscal year and 9.2 per cent in 2012 against seven per cent in 2010.

The Arab World suffered badly in terms of budgetary deficits, lay-off, unemployment, poverty, and outflow of capital i.e. $50 billion during the 2011. Safe heavens fell sharply and the UAE being the one of the ideal destination of investments benefited most of with the crippling situation and received bulk of foreign direct investments (official data of the economic ministry showed that UAE has attracted more than $73 billion FDI since 1971) from other regional countries battling out for their survival during 2011. Global stock markets have dipped close to record lows but the UAE bourses outperformed the regional as well as global markets during 2011.
Furthermore, the UAE emerged as the largest capital exporter in the region and the 30th top investor in the world and it has pumped over $53 billion into foreign markets during the last twenty years.

UAE foreign exchange parity remained lucrative, stable and strong. During 2011, where EURO touched its lowest ebbs and US Dollar weakened further along with other reputable international currencies the UAE dirham has been gaining steadily against the euro and South Asian currencies in the second half of 2011.

According to recently published report of the UAE central bank, the country’s currency has gained 18.61 per cent against the Indian rupee in 2011 and 2.34 per cent euro. It has gained 0.35 per cent against the British pound, 0.69 against the Australian dollar, 2.61 per cent against Swiss franc, and 4.03 against Japanese yen over the past few months which shows its prudent monetary policies and strong banking industry. According to the report, UAE commercial exchange was at Dh13bn in 1971 which would reach to Dh1.73trn in 2011.

Big banks in Europe, USA and around the globe were perished forever. The ghost of sub prime crisis started from the USA ultimately bankrupted mega financial corporations and banks in the Europe. People suffered badly from the spillover repercussions of global economic meltdown. Fiscal cuts were imposed on social nets and resultant was poverty, unemployment, poor health care facilities and low industrial production in the world. Global economic eclipse darkened brighter socio-economic prosperity during 2011.

But, UAE stood firm and its banking remained resilient. According to most recently published report of the UAE central bank (December 2011) the net profits of banks operating in the UAE registered 11.3 percent increase during first ten months of this fiscal year to reach AED 24.98 billion.

Central Bank figures (2011) showed that the combined assets of the country’s 23 national banks and 28 foreign units swelled to an all time high of Dh1,584 billion at the end of September compared with around Dh1,519 billion at the end of 2009 and nearly Dh1,456 billion at the end of 2008. Moreover, the banks also controlled the largest capital base in the region, estimated at nearly Dh255 billion. UAE banks also dominate in loans and deposits, which stood at Dh1,038 billion and Dh1,013 billion respectively in September 2010.

According to a international trade agency (December 2010-11) the UAE ranked the 13th largest exporter with exports of around US$235 billion while it came 18th in imports which stood at US$170bn in 2010. The report added that the country’s exports and imports accounted for almost two and 1.4 per cent of the world’s total exports and imports respectively.

The preliminary statistics released by the Federal Customs Authority (FCA) verified UAE’s non-oil foreign trade has been achieving new targets during the first seven months of 2011 compared to the same period of the previous year. It indicates that UAE non-oil foreign trade has grown by 23 per cent compared to the same period of the previous year as total non-oil Foreign Trade has grown from Dhs426 billion during the first 7 months of 2010 to Dhs524 billion in the same period of 2011, i.e., an increase of Dhs98 billion. It further elaborated that imports has increased from Dhs276.3 billion to reach Dhs337.1 billion during the first 7 months of 2011. UAE exports witnessed tremendous growth by 45 per cent for the same period with an increase from Dhs44.5 billion to Dhs64.7 billion.

The report upholds that UAE total foreign trade in July, 2011 valued YoY Dhs79 billion compared to Dhs52.1 with an increase of 28 per cent. July Imports, in turn, hit YoY Dhs52.1 billion with an increase of 31 per cent. Exports achieved YoY Dhs10 billion with an increase of 51 per cent. Yet, re-exports recorded a YoY increase of 10 per cent to hit Dhs16.9 billion.

Global property markets were not in the pockets of positiveness. During 2011, the euro-zone economy was in turmoil and stock markets too on a roller coaster due to which prospects of healthier property markets remained subdued. The UAE real estate industry comparatively outclassed other competitors during 2011. The government initiated different meaningful policies to make it more attractive and safer. According to global land registry and National Association of Realtors (2011) the regional as well as global housing affordability conditions are at a record high and there is a pent-up demand and the UAE housing industry should also benefit from pent-up demand. Many mega real estate projects have been completed in UAE which would provide stabilization factor in this sector in the days to come.

Strategic Vision Abu Dhabi’s 2030 stand for further diversification of economy, better higher education, entrepreneurism, research, development of small to medium-sized businesses and knowledge-based economy would be instrumental to achieve its desired goals in the future.

According to International Energy Agency (2011), the UAE will increase its renewable energy up to 7 percent by the year 2020. The UAE Foreign Minister, Shaikh Abdullah bin Zayed Al Nahyan stated that the UAE will be a world leader in renewable energy. Despite horrible accident at Japan’s Fukushima Daiichi nuclear plant, the government of UAE followed it’s most advanced, transparent, open, reliable and viable nuclear program in the region/world as labeled by International Atomic Energy Agency (IAEA). Even nuclear regulatory body has also been institutionalized. Diversification of energy mix is one of the main pillars of UAE future energy policy.

The UAE is leading the GCC and Middle East and North Africa (MENA), in the development of renewable energy. It pursued comprehensive renewable energy policies in shape of Masdar City, the world’s first carbon neutral zero waste city, the annual World Future Energy Summit, IRENA’s headquarters, the annual Zayed Award for Future Energy, creation of Department of Energy and Climate Change Affairs and environment-friendly legislations along with building codification. Shams 1 solar plant is a remarkable addition.

Diversification drive can also been seen in the field of small and medium enterprises. UAE government introduced many measures in terms of providing business-investment friendly policies, loaning, infrastructure, training and formation of a new Development Bank. Now, SME sector is contributing its share in its GDP in a larger way.

UAE retailer confidence was among the best in the region and the world during the 2011. Despite global downturn and financial crisis, the retailer confidence of the UAE remained enacted and robust. More and more international brands landed in the UAE and benefited from higher retailer confidence.

Moreover, the UAE took the lead in terms of merger and acquisition deal volume in the Middle East and North Africa with 32 deals in 1H2011 compared to nine in 1H2010, resulting in a remarkable increase of 226 percent. Official data showed cumulative inflows of FDI into the UAE totalled $75.7 billion during 2000-2011.

According to the latest Global Competitiveness Report by the World Economic Forum (WEF), 2011, UAE has been included in the most advanced stage of ‘innovation-driven economies’ in the world for the second consecutive year. Aviation, tourism, seaports, and commercial cargos played tremendously during 2011. A record number of tourists traveled in UAE being the most comfortable, service-oriented, attractive and cheapest destination. UAE welcomes more than 13 million visitors in a year which makes its hotel occupancy highest in the region. There was a surge in the number of tourists from the GCC to Dubai and Abu Dhabi. Both emirates experienced growth in the number of hotel guests over last year. Abu Dhabi is forecast to have hosted about 2 million guests in 2012.

Media, public relations industry, event management companies, advertising agencies, telecommunication, science & technology and sovereign wealth funds maintained their positions and performed well. Moreover, UAE industrial base was expanded and further diversified. Now, manufacturing sector is active, healthy and productive. It is one of the leading sources of employment generation, exports and revenues. It is hoped that a strong manufacturing industry that meets the needs of the international markets will help protect the UAE from the continuing economic turmoil. Mega projects of industrialization are being carried forward i.e. Emirates Aluminium, a joint venture between Mubadala Development and Dubai’s Dubal and Emirates Steel, the country’s biggest steel-maker, is also forging ahead with a $500 million expansion that it expects to complete next year.

Social development is must for achieving sustainable economic growth that is why right from its inception; UAE has been giving priority to social development with a balanced approach. In every federal budget social development carries importance and substantial allocations. Even its federal budget 2012 allocated billions of funds for the social services, including health care, education and housing (47 per cent of the total budget i.e. Dh 41.4 billion (US $ 11.2 billion). Higher education, received Dh 8.26 billion (US $ 2.25 billion) or 19.6 per cent, the bulk of which will be spent on plans to build new schools and other educational institutions and to upgrade the educational environment. According to United Nations assessment, UAE would be the first country to achieve Millennium Development Goals (MDGs) in the GCC and MENA region.

UAE further democratization drive (2nd Federal Council Elections was held during September, 2011), women empowerment policy, persisted inter-faith harmony principles, global humanitarian assistance mechanism, and balanced foreign policy all gear towards a brighter, prosperous, stable and strong country. Its armed forces are the custodian of nation’s pride and sovereignty and they are doing great job in times of war and peace.

Concluding Remarks

Keeping in view UAE splendid achievements in all spheres of life, it is crystal clear that UAE has been in spring and will remain in “spring”. It has achieved diversity and stability. Sand dunes, tents and small forts have been restructured in commercial hubs, business centers, expos and world’s tallest buildings. Sandbanks have been transformed into safe heavens and law and order has been one of the main priority due to which even dignitaries can walk without any security sharing. Bedouins have become shining starts of corporate world. UAE is the homeland where dynasties and dignities live and operate together.

Jan 042012
 

TOKYO: Japan has been developing a virus that could track down the source of a cyber-attack and neutralize its program, the daily Yomiuri Shimbun reported Sunday.

The weapon is the culmination of a 179 million yen ($2.3 million) three-year project entrusted by the government to technology maker Fujitsu Ltd to develop a virus and equipment to monitor and analyze attacks, the daily said.

The United States and China are reported to have put so-called cyber weapons into practical use, Yomiuri said. Continue reading »

 Posted by at 10:31 am
Jan 032012
 

PROFESSOR ALI SUKHANVER

 

If remained unsolved and unresolved, the memo-gate issue may prove fatally catastrophic and lethally disastrous for the hard-earned and ever-dreamed democratic system inPakistan. Though time will decide whether this issue is a conspiracy against democracy or an evil plot against the military institutions ofPakistanbut one thing is very much clear that some of our own people are playing as a tool in the hands of the conspirators. Thanks to God Almighty, we are blessed with a very honest bold and independent judiciary which is looking into the matter and the whole of nation is very much confident that things shall be alright very soon. But outside the courts, unfortunately some of the short-sighted conspirators and connivers are trying to turn the tables on those who caught the perpetrators and defame them with the help of using social media as well as through some concurring TV anchors.

Continue reading »

 Posted by at 8:50 pm
Jan 022012
 

By Tariq Farid/Daily Times

Hazardous E-waste has become one of the biggest health risks of this century in Pakistan, with rising trend of bulk imports of used and obsolete computers and other electronic equipment from the West, taking full advantage of “yet to be enacted E-waste laws” in the country.

The people, especially the youth, are buying ‘E-Waste of the West’ as branded computers due to lack of awareness about the grave risks it is posing to the environment, human life and animals.
Continue reading »

Jan 022012
 

Mehmood-Ul-Hassan Khan

Saudi Arabia is our strategic partner, which is rooted in common faith and culture. Close geographical proximity, historic trade ties, religious association and the economic facilitation have developed trust-worthy relations based on mutual respect. More than 1.5 million Pakistanis are working in Saudi Arabia.
Right from the beginning, the leadership of Saudi Arabia and its government has been coordinating with Pakistan on many important issues of socio-economy and geo-politics and share similarities on different regional and international topics. Saudi Arabia has always been keen interested in the social and economical development of Pakistan and it provided financial assistance during the earthquake of 2005,
and floods of 2010 and 2011. It also pledged $700 million for Pakistan in the Tokyo Donors.

respect. More than 1.5 million Pakistanis are working in Saudi Arabia.
Right from the beginning, the leadership of Saudi Arabia and its government has been coordinating with Pakistan on many important issues of socio-economy and geo-politics and share similarities on different regional and international topics. Saudi Arabia has always been keen interested in the social and economical development of Pakistan and it provided financial assistance during the earthquake of 2005, and floods of 2010 and 2011. It also pledged $700 million for Pakistan in the Tokyo Donors’ Conference.

The Embassy of Saudi Arabia in Pakistan and especially H.E. Abdul Aziz bin Ibrahim Al-Gadeer is passionately facilitating many ongoing mega projects of education, health, housing, infrastructure, clean drinking water and electrification in different parts of the country. Most recently, Pakistan and Saudi Arabia inked two loan agreements amounting to $172 million for import of urea fertilizer $100 million and initiating development projects $72 million. Both loans have multiplier effects on the socio-economic conditions of these areas. It would reduce high ratios of poverty. It would generate more employment in these troubled areas. It would support business activities in these areas and improve their living standards by providing better education, health and housing facilities.
It is worth mentioning that with signing of the two agreements Saudi Arabia has become the only country that has fully disbursed the entire amount of $700 million committed at the Friends of Democratic Pakistan (FODP) forum two years ago. Saudi Ambassador Abdul Aziz bin Ibrahim Al-Gadeer said the SFD’s decision to give two soft loans reflects the Kingdom’s continuous support to Pakistan and its people. He thanked Custodian of the Two Holy Mosques King Abdullah for the humanitarian gesture.
To honor its financial commitments, last year, Saudi Arabia pledged an additional $400 million at the Pakistan Development Forum (PDF). The $100 million credit for urea fertilizer import was part of that commitment while for remaining $300 million Pakistan has selected some social projects, which have been sent to Saudi Arabia for assessment.
Utility of Loan Facilities
To fulfill the requirements of agriculture, Saudi Arabia has provided Urea loan which is for a short period at an interest rate of London Interbank Offered Rate (Libor) plus 1.25 per cent. Under the agreed loan/program, the Trading Corporation of Pakistan (TCP) will import urea from Saudi Arabia and provide the fertilizer to National Fertiliser Marketing Limited (NFML) for its fair distribution.
Saudi Fund for Development Vice-Chairman Engineer Yousef Ibrahim Al-Bassam signed the two agreements in Islamabad. Yousef Ibrahim Al-Bassam said that these agreements will further deepen the bilateral cooperation and enhance good relations between the two countries. He mentioned the strong commitment of the Saudi Arabian government towards supporting the sincere and extended continued efforts of the Pakistan government in promoting the well-being and economic prosperity of its people. Al-Bassam was of the opinion that the urea fertilizer credit facility ($100 million) would benefit the agricultural sector of Pakistan, boost food production and maximise farmer income with the use of qualitative Urea fertilizer.

He said that the second loan of $72 million would be spent for reconstruction in the Malakand Division, Bajaur Agency and North and South Waziristan. He told the reconstruction activity, including repair of roads, would contribute to increasing agricultural productivity and enhance educational and health standards for the people of the region. He shared that rehabilitation work includes construction of 283 kms of major roads and 887 kms of other roads along with 43 bridges and 78 culverts.
According to him the loan will also be used for construction of main and branch canals with flood protection work, water storage, supply of lift pumps, construction of educational facilities in South Waziristan, North Waziristan and Bajaur and rehabilitation of power network and transmission lines.
Saudi Arabia is among the 15 export partners of Pakistan with which bilateral trade volume has gone above US$ 4 billion per annum and it would be further increased in the days to come.

Exports to Saudi Arabia Principal items
Rice, ready made garments, cotton fabrics, synthetic fabrics, made up textiles, tents and canvas, fruits and vegetables, spices, towels, carpets and rugs, sports goods, fish and fish preparations, handicrafts, leather manufactures and printed matters
Imports from Saudi Arabia
Crude petroleum, polythene, plastic moulding powder, aluminum waste, urea, dates, copper wire and rods, ships and boats, ether and its derivatives, chemicals machines, paper waste, parts of aircraft and sulphur.
Source: FBS

Sector Available for Investments

Energy, oil and gas exploration, infrastructure, key production industries, banking, irrigation, fertilizer and port development like Mirpur Mathelo Fertilizer plant, Pipri Thermal power project, Tarbela Dam repairs, Port Qasim, Basha Dam construction etc

Concluding Remarks
Pak-Saudi Arabia friendship is time tested. It signifies socio-economic development of its people, harmony of its governments and strength of its bilateral relations. The recently concluded two loan agreements would provide strategic cushion for the betterment of our people, struggling for survival

Jan 012012
 

The real estate and construction sector strives on sentiments and 2011 was another disastrous year for builders and developers as the nation failed to curb its security issues, experts related to the industry informed.

They also said that concerns such as low gas supply (which compelled the government to stop fresh gas connections to new high-rise buildings), energy crisis, rising cost of input such as cement and iron and the imposition of sales tax under the Sindh Sales Tax on Services Act 2011 impacted the real estate sector adversely. Continue reading »

 Posted by at 4:32 pm