The Financial Daily-Epaper-31-10-2010
8
International CJP summons Judicial Commission session Nisar says political change around corner See on Page 8 Pak, India agree to tone down border rhetoric See on Page 8 Crude Oil (brent)$/bbl 83.15 Crude Oil (WTI)$/bbl 81.43 Cotton $/lb 125.26 Gold $/ozs 1,357.60 Silver $/ozs 24.56 Malaysian Palm $ 984.90 GOLD (NCEL) PKR 37,052 KHI Cotton 40Kg PKR 8,788 Yearly(Jul, 2010 up to 28-Oct-2010) Monthly(Oct, 2010 up to 28-Oct-2010) Daily (28-Oct-2010) Total Portfolio Invest (22 Oct-2010) 104.18 54.95 28.15 2532 0.43 0.45 3.65 -0.99 -0.02 -3.35 -0.17 SCRA(U.S $ in million) Portfolio Investment FIPI (29-Oct-2010) Local Companies (29-Oct-2010) Banks / DFI (29-Oct-2010) Mutual Funds (29-Oct-2010) NBFC (29-Oct-2010) Local Investors (29-Oct-2010) Other Organization (29-Oct-2010) (U.S $ in million) NCCPL GDR update Commodities Forex Reserves (22-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10) GDP Growth FY10E Per Capita Income FY10 Population $16.88bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 170.92mn Economic Indicators Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares) $.Price 2.60 19.00 2.00 1.70 9.73 PKR/Shares 111.50 162.96 42.89 36.45 33.38 T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs) 20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 29-Oct-2010 12.77% 13.08% 13.22% 13.50% 12.82% 12.99% 13.23% 13.61% 13.71% 13.66% 13.74% 13.84% 14.23% 14.36% 14.52% Money Market Update Symbols Buy (Rs) Sell (Rs) Australian $ 84.13 84.25 Canadian $ 84.90 85.10 Danish Krone 15.00 15.40 Euro 118.50 119.00 Hong Kong $ 11.00 11.30 Japanese Yen 1.050 1.076 Saudi Riyal 23.00 23.20 Singapore $ 65.70 65.80 Swedish Korona 12.20 12.70 Swiss Franc 88.30 88.80 U.A.E Dirham 23.40 23.60 UK Pound 135.90 136.10 US $ 86.05 86.45 Open Mkt Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 83.71 83.91 Canadian $ 83.98 84.17 Danish Krone 15.98 16.02 Euro 119.21 119.48 Hong Kong $ 11.05 11.08 Japanese Yen 1.063 1.066 Saudi Riyal 22.87 22.92 Singapore $ 66.03 66.18 Swedish Korona 12.71 12.74 Swiss Franc 87.07 87.27 U.A.E Dirham 23.35 23.40 UK Pound 136.73 137.05 US $ 85.77 85.97 Inter-Bank Currency Rates Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com www.thefinancialdaily.com CITIES MAX-TEMP MIN ISLAMABAD 28°C 14°C KARACHI 34°C 22°C LAHORE 30°C 16°C FAISALABAD 31°C 15°C QUETTA 20°C 4°C RAWALPINDI 29°C 15°C Weather Forecast GUJRAT: Prime Minister Syed Yousuf Raza Gilani addressing the gathering at Zamindara College here on Saturday.-APP Index Close Change KSE 100 10,598.40 36.59 Nikkei 225 9,202.45 163.58 Hang Seng 23,096.32 114.54 Sensex 30 20,032.34 91.30 SSE COMP. 2,978.83 13.75 FTSE 100 5,675.16 2.73 Dow Jones 11,118.49 4.54 Global Indices Karachi, Sunday, October 31, 2010, Zul-Qa’dah 22, Price Rs12 Pages 8 US has stake in Asia security, says Clinton See on Page 8 Special Correspondent GUJRAT: Prime Minister Syed Yousuf Raza Gilani said no gov- ernment can move forward with- out correcting its past mistakes. "The policies of any govern- ment may be wrong or right. If nationalisation of private educa- tional institutions is wrong poli- cy, it should be corrected as we can not proceed further without admitting our mistakes. We will have to call a wrong thing always wrong", Prime minister said this while address- ing gathering on the eve of Nawab Sir Fazal Ali anniver- sary here Saturday. "I pay rich tribute to Nawab Sir Fazal Ali as he torched the candle in this area when the Muslim children were not allowed admission in the educa- tional institutions in sub conti- nent", he held. Country was facing the chal- lenges of power crisis, poverty and terrorism at present, he observed. Terrorism was such a menace which was adversely affecting national economy, trade and other areas. It was leading the country to instabili- ty, he underscored. "We togeth- er have to counter this scourge", he added. Government was committed to eliminate lawlessness, pover- ty and terrorism and the politics of reconciliation being pursued by us is for the sake of people only, he underlined. "Our manifestoes, ideologies and thinking can be divergent but we all are one for serving See # 2 Page 7 No progress sans correcting missteps: Gilani Govt committed to root out terrorism: Prime Minister ‘Nationalisation of edu institutes a wrong decision’ ISLAMABAD: Federal Minister for Finance Dr Hafeez Shaikh said Saturday that five ministries would be abolished in the federal capital and shift- ed to the provinces under the devolution process within weeks. After inaugurating the semi- nar "Making the 18th Amendment and NFC Award Work," the federal minister told media representatives that additional five ministries from the centre would be shifted to provinces by the end of 2010. The ministries to be shifted to provinces under the 18th Amendment include Population Welfare, Youth Affairs, Local Bodies and Rural Development, Zakat and Usher, Special Initiatives, Culture and Tourism, Special Education, Social Welfare, Special Education and Minorities' Affairs. The finance minister said the ministries that are to be shifted within weeks included among others Youth Affairs, Special Initiatives and Zakat and Usher. To a question about abolish- ing the tax exemptions from various sectors, Hafeez Shaikh said that efforts would be made to implement taxes according to the spirit of the upcoming new Reformed General Sales Tax bill. He said that a new State Bank of Pakistan legislation will soon be tabled in Parliament. "The reformed GST will be in line with the real spirit of value-added tax," he added. The RGST Bill is scheduled to be taken up for discussion in the parliament during its upcoming session starting from November 1. Earlier, speaking at the inau- gural session, the federal min- ister described the conference as timely to deal with the criti- cal issues facing the nation after the passage of 18th Amendment and the National Finance Commission award which would have impact on the economy. He said that responsibilities were being shifted to provinces, which of course was a great task. He said the NFC Award was long over-due and the current award has fixed multiple crite- ria for the distribution of funds which he said was the long- standing demand of the provinces adding that the provinces would be getting share of 56 per cent from the resources. He expressed the hope that the conference would come out with practical recommendations and guidelines to make the 18th Amendment and the NFC Award work. The government would consider the recommen- dations forwarded by the forum, he added. -Agencies Provinces to g et five fed ministries soon MULTAN: Foreign Minister Shah Mehmood Qureshi has said Pakistan has made it clear to the United States that there should be no discrimination on the transfer of civilian nuclear technology as it is its urgent requirement. Talking to newsmen here on Saturday, he said that talks with the United States are in progress on the transfer of civil nuclear technology. He said today the relations between the two countries are excellent than before. Responding to questions regarding Kashmir issue, he said dialogue on Kashmir dis- pute with the United States is under way. He said Pakistan has also raised the issue at the United Nations forum and reiterated its principle and historical stance. He said the United States and the European Union want to bring peace in the region and they have acknowledged that intifada in Occupied Kashmir is not Pakistan instigated move- ment but it is an indigenous one which was started by Kashmiri people themselves against the Indian dictatorial policy imposed on them. Foreign Minister Qureshi said in the liberation movement, thousands of Kashmiri people were martyred for their political rights and right to self-determi- nation. He said the resolution of Kashmir issue is the only way to bring normalcy in relations between Pakistan and India. Regarding Pakistan's role in establishing peace in Afghanistan, Shah Mehmood Qureshi said that the policy of reconciliation and reintegration should be led by Afghan gov- ernment itself. "The Afghan government should open doors for dialogue with the warring factions as they are Afghan nationals and Pakistan is ready to play its part to bring peace in that country," he concluded. -Agencies Pak seeks civil N-deal with US No normal ties with India sans Kashmir solution KARACHI: Interior Minister Rehman Malik has said that a covert operation has been launched for stopping target killings in Karachi adding that every incident should not be termed as target killing. Talking to media in Karachi Malik said that terrorists have become active in Karachi and steps are being taken to counter them and a covert operation has been launched against them. He said he lauds the police and Rangers for making law and order situation better in Karachi. He said that every incident of killing should not be dubbed as target killing. People are killed over love, and property dis- putes and that is also included in target killings. Malik said that there was a time when Karachi was peace- ful and vehicles were seen roaming around. He said we will make Karachi peaceful again we are taking action but we will keep our strategy secret. We are arresting those target killers against whom we have solid proof. He said that one criminal involved in Sher Shah Kabari Market incident has bee arrest- ed. More check posts of police and rangers are being set up for maintaining peace in Sher Shah Market. Rehman Malik further said that his every visit to Karachi is not linked with target killing. See # 4 Page 7 Not every murder is targeted: Malik Covert operation against target killers launched in Khi Monitoring Desk WASHINGTON: A better understanding of Pakistan's defence needs in the US capital may soon lead to an additional $400 million of annual military assistance, besides a $2.029 bil- lion package announced last week. According to the diplomatic sources money would come from the Pakistan Counter- insurgency Capability Fund set up to help the country fight ter- rorists along and inside the Pak-Afghan border. Last year, the House Appropriations Committee approved $400 mil- lion for the counter-insurgency fund. In February this year, the Obama administration sought a $0.5 billion increase in funds to bolster Pakistan's counter- insurgency capabilities. The US administration was increasing the fund from $700 million in fiscal 2009 to $1.2 billion in the current fiscal year, which began on Oct 1. Both the funds - the PCCF and the $2.029 billion package for purchasing US weapons - are continuation of previous five-year programmes. But amounts under both pro- grammes have been increased. The five-year package for military hardware and training has been increased from $1.5 billion, allocated in the previ- ous package, to $2.029 billion. There will be a similar increase in the PCCF. During last week's strategic dialogue, where the two See # 3 Page 7 $400mn more for Pak mily likely Shahbaz meet Kayani RAWALPINDI: A meeting between Chief of Army Staff General Ashfaq Parvez Kayani and Punjab Chief Minister Shahbaz Sharif held here on Saturday, media reported. Matters mainly related to security, law & order and reha- bilitation of flood-affected came under discussion during the meeting. The Army Chief and Punjab Chief Minister had an exchange of views on shar- ing of intelligence for put- ting a curb on terrorist activ- ities in the province besides steps being taken for the rehabilitation of flood-hit people. -Agencies APML to charge-sheet Sharif ISLAMABAD: Former presi- dent Pervez Musharraf's All Pakistan Muslim League (APML) has decided to present 20-point charge sheet against PML-N chief Nawaz Sharif. Talking to private TV channel here Saturday Dr Sher Afghan Niazi former federal minister and leader APML said that the charge sheet would consist of those charges, which have proved, but no action is being taken against Nawaz Sharif in this connection. He said that hiding of corrup- tion in guise of reconciliation would not be tolerated. He fur- ther said that charge sheet would consist of facts and there would be no ambiguity. He said that they would bring the reali- ty of so called sacrifices, in front of the masses. He said that Nawaz Sharif cor- rupted million of rupees. He said that sugar is being sold at Rs90 per kilogram and it is due to Mian brothers because large numbers of sugar mills are owned by Sharif brothers. -Agencies Three F16s arrive in Pak ISLAMABAD: Three F16 jet fighters - delivered by US - have reached Pakistan here Saturday, while two additional ones are expected to arrive next week, media reported. According to an agreement between Pakistan and the US government, the latter has to provide eighteen F16 to Pakistan. Sources suggest remaining jet fighters will be handed-over to Pakistan by December. Jet-fighters were being deliv- ered to Pakistan under a series of strict conditions by Washington. One of these stipulations, the report said, was that Pakistan would not use the jets in any conflict with India. Another condition, the report said, was that American air force engineers will accompany the delivery of the F-16s and supervise not only the air base but also the operations to be carried out by PAF against Taliban and al Qaeda. -Agencies Rabbani calls on Gilani Power devolution must be end by June 2011: PM ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has emphasised that the process of devolution must be completed by 30th June, 2011, the time specified in the constitution. He further said that the process of devolution will fulfill the long outstanding political commitment of democratic forces of devolving responsibilities to the provinces. During the meeting with Senator Mian Raza Rabbani here at Prime Minister House on Saturday, the Prime Minister was apprised of the progress with regard to the implementation status of the 18th Amendment Bill. See # 1 Page 7 New legislation for State Bank of Pakistan soon, says Shaikh
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The Financial Daily Epaper
Transcript of The Financial Daily-Epaper-31-10-2010
International
CJP summons Judicial Commission session
Nisar says political change around corner See on Page 8
Pak, India agree to tone down border rhetoric See on Page 8
Crude Oil (brent)$/bbl 83.15
Crude Oil (WTI)$/bbl 81.43
Cotton $/lb 125.26
Gold $/ozs 1,357.60
Silver $/ozs 24.56
Malaysian Palm $ 984.90
GOLD (NCEL) PKR 37,052
KHI Cotton 40Kg PKR 8,788
Yearly(Jul, 2010 up to 28-Oct-2010)
Monthly(Oct, 2010 up to 28-Oct-2010)
Daily (28-Oct-2010)
Total Portfolio Invest (22 Oct-2010)
104.18
54.95
28.15
2532
0.43
0.45
3.65
-0.99
-0.02
-3.35
-0.17
SCRA(U.S $ in million)
Portfolio Investment
FIPI (29-Oct-2010)
Local Companies (29-Oct-2010)
Banks / DFI (29-Oct-2010)
Mutual Funds (29-Oct-2010)
NBFC (29-Oct-2010)
Local Investors (29-Oct-2010)
Other Organization (29-Oct-2010)
(U.S $ in million)
NCCPL
GDR update
Commodities
Forex Reserves (22-Oct-10)
Inflation CPI% (Jul 10-Sep 10)
Exports (Jul 10-Sep 10)
Imports (Jul 10-Sep 10)
Trade Balance (Jul 10-Sep 10)
Current A/C (Jul 10- Sep10)
Remittances (Jul 10-Sep 10)
Foreign Invest (Jul 10-Sep10)
Revenue (Jul 10-Sep 10)
Foreign Debt (Jun 10)
Domestic Debt (Aug 10)
Repatriated Profit (Jul- Aug 10)
LSM Growth (Aug 10)
GDP Growth FY10EPer Capita Income FY10Population
$16.88bn
13.77%
$5.18bn
$9.03bn
$(3.85)bn
$(545)mn
$2.65bn
$455.10mn
Rs 310bn
$55.63bn
Rs 4863bn
$124.90mn
-3.85%
4.10%
$1,051
170.92mn
Economic Indicators
Symbols
MCB (1 GDR= 2 Shares)
OGDC (1 GDR= 10 Shares)
UBL (1 GDR= 4 Shares)
LUCK (1 GDR= 4 Shares)
HUBC (1 GDR= 25 Shares)
$.Price
2.60
19.00
2.00
1.70
9.73
PKR/Shares
111.50
162.96
42.89
36.45
33.38
T-Bills (3 Mths)
T-Bills (6 Mths)
T-Bills (12 Mths)
Discount Rate
Kibor (1 Mth)
Kibor (3 Mths)
Kibor (6 Mths)
Kibor ( 9 Mths)
Kibor (1Yr)
P.I.B ( 3 Yrs)
P.I.B (5 Yrs)
P.I.B (10 Yrs)
P.I.B (15 Yrs)
P.I.B (20 Yrs)
P.I.B (30 Yrs)
20-Oct-2010
20-Oct-2010
20-Oct-2010
29-Sep-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
29-Oct-2010
12.77%
13.08%
13.22%
13.50%
12.82%
12.99%
13.23%
13.61%
13.71%
13.66%
13.74%
13.84%
14.23%
14.36%
14.52%
Money Market Update
Symbols Buy (Rs) Sell (Rs)
Australian $ 84.13 84.25
Canadian $ 84.90 85.10
Danish Krone 15.00 15.40
Euro 118.50 119.00
Hong Kong $ 11.00 11.30
Japanese Yen 1.050 1.076
Saudi Riyal 23.00 23.20
Singapore $ 65.70 65.80
Swedish Korona 12.20 12.70
Swiss Franc 88.30 88.80
U.A.E Dirham 23.40 23.60
UK Pound 135.90 136.10
US $ 86.05 86.45
Open Mkt Currency Rates
Symbols Buying Selling
TT Clean TT & OD
Australian $ 83.71 83.91
Canadian $ 83.98 84.17
Danish Krone 15.98 16.02
Euro 119.21 119.48
Hong Kong $ 11.05 11.08
Japanese Yen 1.063 1.066
Saudi Riyal 22.87 22.92
Singapore $ 66.03 66.18
Swedish Korona 12.71 12.74
Swiss Franc 87.07 87.27
U.A.E Dirham 23.35 23.40
UK Pound 136.73 137.05
US $ 85.77 85.97
Inter-Bank Currency Rates
Subscribe now
Tel: 92-21-5311893-6
Fax: 92-21-5388428
Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
CITIES MAX-TEMP MIN
ISLAMABAD 28°C 14°C KARACHI 34°C 22°C LAHORE 30°C 16°C FAISALABAD 31°C 15°C QUETTA 20°C 4°C RAWALPINDI 29°C 15°C
Weather Forecast
GUJRAT: Prime Minister Syed Yousuf Raza Gilani addressing the gathering at Zamindara College here on Saturday.-APP
Index Close Change
KSE 100 10,598.40 36.59
Nikkei 225 9,202.45 163.58
Hang Seng 23,096.32 114.54
Sensex 30 20,032.34 91.30
SSE COMP. 2,978.83 13.75
FTSE 100 5,675.16 2.73
Dow Jones 11,118.49 4.54
Global Indices
Karachi, Sunday, October 31, 2010, Zul-Qa’dah 22, Price Rs12 Pages 8
US has stake in Asiasecurity, says Clinton
See on Page 8
Special Correspondent
GUJRAT: Prime Minister SyedYousuf Raza Gilani said no gov-ernment can move forward with-out correcting its past mistakes.
"The policies of any govern-ment may be wrong or right. Ifnationalisation of private educa-tional institutions is wrong poli-cy, it should be corrected as wecan not proceed further withoutadmitting our mistakes.
We will have to call a wrongthing always wrong", Primeminister said this while address-ing gathering on the eve ofNawab Sir Fazal Ali anniver-sary here Saturday.
"I pay rich tribute to NawabSir Fazal Ali as he torched thecandle in this area when theMuslim children were notallowed admission in the educa-tional institutions in sub conti-nent", he held.
Country was facing the chal-
lenges of power crisis, povertyand terrorism at present, heobserved. Terrorism was such amenace which was adverselyaffecting national economy,trade and other areas. It wasleading the country to instabili-ty, he underscored. "We togeth-er have to counter this scourge",he added.
Government was committedto eliminate lawlessness, pover-ty and terrorism and the politicsof reconciliation being pursuedby us is for the sake of peopleonly, he underlined.
"Our manifestoes, ideologiesand thinking can be divergentbut we all are one for serving
See # 2 Page 7
No progress sans correctingmissteps: Gilani
Govt committed to root out terrorism: Prime Minister
‘Nationalisation of edu institutes a wrong decision’
ISLAMABAD: FederalMinister for Finance Dr HafeezShaikh said Saturday that fiveministries would be abolishedin the federal capital and shift-ed to the provinces under thedevolution process withinweeks.
After inaugurating the semi-nar "Making the 18thAmendment and NFC AwardWork," the federal ministertold media representativesthat additional five ministriesfrom the centre would beshifted to provinces by the endof 2010.
The ministries to be shifted toprovinces under the 18thAmendment includePopulation Welfare, YouthAffairs, Local Bodies andRural Development, Zakat and
Usher, Special Initiatives,Culture and Tourism, SpecialEducation, Social Welfare,Special Education andMinorities' Affairs.
The finance minister said theministries that are to be shiftedwithin weeks included amongothers Youth Affairs, SpecialInitiatives and Zakat andUsher.
To a question about abolish-ing the tax exemptions fromvarious sectors, Hafeez Shaikhsaid that efforts would be madeto implement taxes accordingto the spirit of the upcomingnew Reformed General SalesTax bill.
He said that a new StateBank of Pakistan legislationwill soon be tabled inParliament. "The reformed
GST will be in line with thereal spirit of value-added tax,"he added.
The RGST Bill is scheduledto be taken up for discussion inthe parliament during its
upcoming session starting fromNovember 1.
Earlier, speaking at the inau-gural session, the federal min-ister described the conferenceas timely to deal with the criti-
cal issues facing the nationafter the passage of 18thAmendment and the NationalFinance Commission awardwhich would have impact onthe economy.
He said that responsibilitieswere being shifted toprovinces, which of course wasa great task.
He said the NFC Award waslong over-due and the currentaward has fixed multiple crite-ria for the distribution of fundswhich he said was the long-standing demand of theprovinces adding that theprovinces would be gettingshare of 56 per cent from theresources.
He expressed the hope that theconference would come outwith practical recommendationsand guidelines to make the 18thAmendment and the NFCAward work. The governmentwould consider the recommen-dations forwarded by the forum,he added. -Agencies
Provinces to get five fed ministries soon
MULTAN: Foreign MinisterShah Mehmood Qureshi hassaid Pakistan has made it clearto the United States that thereshould be no discrimination onthe transfer of civilian nucleartechnology as it is its urgentrequirement.
Talking to newsmen here onSaturday, he said that talks withthe United States are in progresson the transfer of civil nucleartechnology.
He said today the relationsbetween the two countries areexcellent than before.
Responding to questionsregarding Kashmir issue, hesaid dialogue on Kashmir dis-pute with the United States isunder way.
He said Pakistan has alsoraised the issue at the UnitedNations forum and reiterated itsprinciple and historical stance.
He said the United States andthe European Union want tobring peace in the region andthey have acknowledged thatintifada in Occupied Kashmir is
not Pakistan instigated move-ment but it is an indigenous onewhich was started by Kashmiripeople themselves against theIndian dictatorial policyimposed on them.
Foreign Minister Qureshi saidin the liberation movement,thousands of Kashmiri peoplewere martyred for their politicalrights and right to self-determi-nation.
He said the resolution ofKashmir issue is the only way tobring normalcy in relationsbetween Pakistan and India.
Regarding Pakistan's role inestablishing peace inAfghanistan, Shah MehmoodQureshi said that the policy ofreconciliation and reintegrationshould be led by Afghan gov-ernment itself.
"The Afghan governmentshould open doors for dialoguewith the warring factions asthey are Afghan nationals andPakistan is ready to play its partto bring peace in that country,"he concluded. -Agencies
Pak seeks civilN-deal with US
No normal ties with India sans Kashmir solution
KARACHI: Interior MinisterRehman Malik has said that acovert operation has beenlaunched for stopping targetkillings in Karachi adding thatevery incident should not betermed as target killing.
Talking to media in KarachiMalik said that terrorists havebecome active in Karachi andsteps are being taken to counterthem and a covert operation hasbeen launched against them.
He said he lauds the policeand Rangers for making lawand order situation better inKarachi.
He said that every incident ofkilling should not be dubbed astarget killing. People are killedover love, and property dis-putes and that is also included
in target killings.Malik said that there was a
time when Karachi was peace-ful and vehicles were seenroaming around.
He said we will makeKarachi peaceful again we aretaking action but we will keepour strategy secret. We arearresting those target killersagainst whom we have solidproof. He said that one criminalinvolved in Sher Shah KabariMarket incident has bee arrest-ed. More check posts of policeand rangers are being set up formaintaining peace in Sher ShahMarket.
Rehman Malik further saidthat his every visit to Karachi isnot linked with target killing.
See # 4 Page 7
Not every murderis targeted: Malik
Covert operation against target killers launched in Khi
Monitoring Desk
WASHINGTON: A betterunderstanding of Pakistan'sdefence needs in the US capitalmay soon lead to an additional$400 million of annual militaryassistance, besides a $2.029 bil-lion package announced lastweek.
According to the diplomaticsources money would comefrom the Pakistan Counter-insurgency Capability Fund setup to help the country fight ter-rorists along and inside thePak-Afghan border. Last year,the House AppropriationsCommittee approved $400 mil-lion for the counter-insurgencyfund.
In February this year, theObama administration sought a$0.5 billion increase in funds to
bolster Pakistan's counter-insurgency capabilities.
The US administration wasincreasing the fund from $700million in fiscal 2009 to $1.2billion in the current fiscal year,which began on Oct 1.
Both the funds - the PCCFand the $2.029 billion packagefor purchasing US weapons -are continuation of previousfive-year programmes. Butamounts under both pro-grammes have been increased.
The five-year package formilitary hardware and traininghas been increased from $1.5billion, allocated in the previ-ous package, to $2.029 billion.There will be a similar increasein the PCCF.
During last week's strategicdialogue, where the two
See # 3 Page 7
$400mn more forPak mily likely
Shahbazmeet Kayani RAWALPINDI: A meetingbetween Chief of Army StaffGeneral Ashfaq Parvez Kayaniand Punjab Chief MinisterShahbaz Sharif held here onSaturday, media reported.
Matters mainly related tosecurity, law & order and reha-bilitation of flood-affectedcame under discussion duringthe meeting.
The Army Chief andPunjab Chief Minister had anexchange of views on shar-ing of intelligence for put-ting a curb on terrorist activ-ities in the province besidessteps being taken for therehabilitation of flood-hitpeople. -Agencies
APML tocharge-sheet
SharifISLAMABAD: Former presi-dent Pervez Musharraf's AllPakistan Muslim League(APML) has decided to present20-point charge sheet againstPML-N chief Nawaz Sharif.
Talking to private TV channelhere Saturday Dr Sher AfghanNiazi former federal ministerand leader APML said that thecharge sheet would consist ofthose charges, which haveproved, but no action is beingtaken against Nawaz Sharif inthis connection.
He said that hiding of corrup-tion in guise of reconciliationwould not be tolerated. He fur-ther said that charge sheetwould consist of facts and therewould be no ambiguity. He saidthat they would bring the reali-ty of so called sacrifices, infront of the masses.
He said that Nawaz Sharif cor-rupted million of rupees. He saidthat sugar is being sold at Rs90per kilogram and it is due to Mianbrothers because large numbersof sugar mills are owned bySharif brothers. -Agencies
Three F16sarrive in Pak
ISLAMABAD: Three F16 jetfighters - delivered by US -have reached Pakistan hereSaturday, while two additionalones are expected to arrivenext week, media reported.
According to an agreementbetween Pakistan and the USgovernment, the latter has toprovide eighteen F16 toPakistan.
Sources suggest remainingjet fighters will be handed-overto Pakistan by December.
Jet-fighters were being deliv-ered to Pakistan under a seriesof strict conditions byWashington.
One of these stipulations, thereport said, was that Pakistanwould not use the jets in anyconflict with India.
Another condition, thereport said, was thatAmerican air force engineerswill accompany the deliveryof the F-16s and supervise notonly the air base but also theoperations to be carried outby PAF against Taliban and alQaeda. -Agencies
Rabbani calls on Gilani
Power devolution mustbe end by June 2011: PM
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani hasemphasised that the process of devolution must be completed by30th June, 2011, the time specified in the constitution.
He further said that the process of devolution will fulfill thelong outstanding political commitment of democratic forces ofdevolving responsibilities to the provinces.
During the meeting with Senator Mian Raza Rabbani here atPrime Minister House on Saturday, the Prime Minister wasapprised of the progress with regard to the implementation statusof the 18th Amendment Bill.
See # 1 Page 7
New legislation for State Bank of Pakistan soon, says Shaikh
2 Sunday, October 31, 2010
TV PROGRAMMES
SUNDAY
Time Programmes
7:00 News
8:00 News
9:05 I Samaa (Rpt)
10:10 The Reema Show
(Rpt)
11:10 Naram Garam
12:00 News
13:10 Faisla Aap Ka (Rpt)
14:10 The Anchor (Rpt)
15:00 News
16:00 News
17:00 News
18:00 News
19:05 I Samaa
19:30 Mutasareen
20:05 The Reema Show
21:00 News
22:03 Faisla Aap Ka
23:05 Tafteesh
SUNDAY
Time Programmes
8:00 Pakista this
week(Rpt)
8:30 Music Scene
10:00 Smithsonian
Documentry
11:00 Uff Tv(Rpt)
11:30 Dilkash Pakistan
(Rpt)
12:05 Kamyab (Rpt)
13:05 Agenda 360 (Rpt)
14:00 News
15:00 Teesri Nazar(Rpt)
16:00 News
16:05 Pakistan This Week
(Rpt)
16:30 Tijarti Dunya (Rpt)
17:00 Kamyab (Rpt)
18:00 News
18:30 Uff Tv(Rpt)
19:05 Sara Jahan
19:30 Red Carpet
20:05 Filmi Samaa
20:30 Munafa Khor
Hoshiyar
21:00 News
21:05 Badalta pakistan
22:00 News
22:05 Agenda 360
23:00 Amnay Samany
0:00 News
ISLAMABAD: A work-shop on "Tools to under-stand NAMA (NonAgricultural MarketAccess) better'' was jointlyorganised by IslamabadChamber of Commerce &Industry and Ministry ofIndustries and Production,which was attended byrepresentatives from gov-ernment stakeholderdepartments as well as alarge number of represen-tatives from the privateand industrial sector, here
on Saturday.The President ICCI
Mahfooz Elahi expressedhis appreciation for theefforts of Ministry ofIndustries and Productionfor sharing information onsignificant issues in theWTO related to the industri-al sector, especially NonAgricultural Market Access.He emphasised that PrivateSector must be involved inthe consultation process,while negotiating on tariffsand signing FTAs and PTAs
with different governments.Shaista Sohail, Joint
Secretary MoI&P andProject Director of thededicated WTO Unit of theMinistry thanked ICCI fororganizing the Workshop.She explained that theobjectives of the Unit wereto assist the Industry andBusinesses understand theongoing negotiations andthe existing agreementsand develop analysesimplications for theIndustry.-Online
ICCI moots onmarket access
Staff Correspondent
LAHORE: All theChambers of Commerceand Industry in Punjab andindustrial associations inan emergent meetingSaturday authorised theLahore Chamber ofCommerce and Industry totake whatever extremestep it deem fit if the gov-ernment fails to end dis-crimination in gas supplywith the province andensure countrywide equi-table gas load sheddingwithin a week.
It was also observed thatindustries at large in theprovince are movingtowards total defaultwhich would cause a mas-sive lay offs. If govern-ment fails to take correc-tive measures, the pay-ment of federal andprovincial taxes could alsobe stopped.
As many as ten leadingChambers of Commerceand a large number ofindustrial associations ofthe province met under thechairmanship of PresidentLahore Chamber ofCommerce and IndustryShahzad Ali Malik to dis-cuss the ongoing gas crisisthat has crippled both thetrade and the industry.LCCI Senior VicePresident SheikhMuhammad Arshad,Chairman NationalAssembly StandingCommittee on RailwaysSardar Ayaz Sadiq,President GujranwalaChamber of Commerce &Industry Sheikh SarwatIkram, President OkaraChamber of Commerce &Industry SheikhMuhammad Iqbal Shahid,President SheikhupuraChamber of Commerce &Industry Mian Tariq Iqbal
Mughal, Vice PresidentGujrat Chamber ofCommerce & IndustryNasir Butt, Mian M.Anwar of Sialkot Chamberof Commerce & Industry,LCCI former presidentsMian Muhammad Ashraf,Iftikhar Ali Malik, MianAnjum Nisar, ShahidHassan Sheikh,Muhammad Ali Mian,Mian Muzffar Ali, formerSenior Vice PresidentSohail Lashari and formerVice President ShafqatSaeed Paracha also spokeon the occasion.
The LCCI PresidentShahzad Ali Malik, in hisaddress, urged all theChambers andAssociations to forwardtheir doable proposals tothe Lahore Chamber ofCommerce and Industry sothat the same could be pre-sented to the governmentfor their implementation.
Punjab chambersurge govt not tocut gas supply
KARACHI: SultanAhmed Chawla PresidentFPCCI has reiterated thatthe private sector willresolve to explore all pos-sible opportunities to pro-mote bilateral trade as wellas to reduce all outstand-ing issues with our Indiancounterparts for the eco-nomic prosperity of thepeople of sub-continent.
Sultan Ahmed Chawlawas talking at the lunchhosted by FPCCI in hon-our of the Indian HighCommissioner Mr. SharatSabharwal and other diplo-mats of the Indian HighCommission.
Chawla said thatPakistan is sincere in itsapproach and really want-ed more trade and encour-age the businessmen of
both the countries to inter-act more often which cangive the best results.
There are several oppor-tunities which have notbeen exploited and the pri-vate sector should set thetrend for future.
Both Pakistan and Indiaare counted as poor coun-tries where $23 billion arebeing spent on defense asagainst negligible amounton education and health.There at least 500 millionpeople who are illiterateand if properly educatedthey could contribute sub-stantially for the economicgrowth.
It is with this intentionthat the Govt. of Pakistanhas prepared policies andopened up various sectorsfor the businessmen of
other countries to tradewith Pakistan.
The President furtheradded that Kashmir is amacro issue, best left to thepoliticians, but at least wecan resolve smaller issues.He highlighted some of theon-going issues likerestrictive Indian importpolicy and non-availabilityof railway wagons on theIndian side across the bor-der at Attari to transportcement and other items.
He further added that thePakistan has a vibrant pri-vate sector best suited topublic private partnershipfor the good of the peopleof both the countries.President assured full sup-port and fair deal to allintending businessmen tovisit Pakistan.-Online
FPCCI to promotebilateral trade
with India
Staff Reporter
KARACHI: FederalAdvisor on Textiles DrMirza Ikhtiar Baig dis-cussed with SharatSabharwal, Indian HighCommissioner (HC) andR K Sharma, Indian TradeCommissioner regardingshipment of about 1 mil-lion Indian cotton bookedand purchased by thePakistani millers.
India has 5.5 millionexportable surplus cottonbales. Pakistan's devastat-ing flood hit the cottoncrops and more than 2million cotton bales havebeen lost. Pakistan isexpecting cotton cropproduction for 2010-11season of 12.5 million
bales and need to import 2million bales of 170 kgeach to meet the require-ment of our textile indus-tries. Indian exportershave delayed their exportsby 1st November andSharad Pawar, India'sFarm Minister told thatthey intend to reviewCotton Export Policy inDecember 2010 whichhas concerned Indian cot-ton buyers from Pakistanthat the Indian exportersare using suspension ofregistration as excuse toescape their contractsbecause of rising interna-tional cotton prices inrecent weeks.
Dr Baig informedIndian HighCommissioner in a meet-
ing at Karachi that mostof these orders from Indiawas about $0.90/lb but thecotton prices has risennearly 89 per cent sincethe start of July to all timehigh at $1.25/maund thisweek which has increasedthe cotton prices indomestic market toRs8500/maund.
Dr Baig has requestedPakistani buyers of Indiancotton to provide details oftheir contracts with theIndian sellers to submit toIndian HighCommissioner in order totake up this matter. IndianHigh Commissioner prom-ised to help Pakistan likelast year arranging ship-ment of 200,000 Indiancotton bales to Pakistan.
Dr Baig settles cottonissue with Indian HC
M Imran Sharif
KARACHI: The industrialand trade associations ofKarachi have unanimouslydecided to go on strike onWednesday against massiveload-shedding by KESC inthe industrial hub ofPakistan - Karachi contin-ued for the last many days.
"There would be a com-plete shut-down in all theindustrial areas onWednesday if the govern-ment would not interveneinto the matter and resolvethe issue which hasbecome extremely unbear-able", warned Chairman,Korangi Association ofTrade and Industry(KATI), Johar AliQandhari after an emer-gent meeting of officebearers of all the industri-al, town and trade associa-tions here at KATI's prem-ises on Saturday.
Majority of the trade and
industrial leaders presenton the occasion have cate-gorically declared that theyhave fed up with the irre-sponsible attitude by theutilities agencies and thegovernment in particularand in the past many daysthey have suffered unbear-able losses and they haveno option except to observestrike and stay home.
Besides others Chairman,North Karachi Associationof Trade and Industry, FarazMirza, Chairman, LandhiAssociation of Trade andIndustry, Riaz Ismail, SITESuper Highway Associationof Industry, Raja Ilyas, ViceChairman, Haroon Shamsi,F B Area Association ofTrade and Industry, ViceChairman, North Karachi,Sadiq Muhammad, AslamRiaz and Vice Chairman ofSITE Superhighway spokeon the occasion.
"The ongoing problemsof reduced supply of gas
from SSGC to KESC ornon-availability of fundsto purchase furnace oil areissues to be resolved bythe utilities agencies andthe government and wehave nothing to do withthese issues and since weare promptly paying billsto all the utilities' agenciesour industries should notsuffer due to power out-ages", warned formerChairman, KATI, MianZahid Husain.
The industrial representa-tives while expressingsheer dismay over the non-serious attitude by the gov-ernment said that in such asituation it is not possible tocontinue the industrial pro-duction many industrieshave already been closeddown while the presentgovernment id not takingthis alarming situation seri-ously and there are noefforts to improve the situa-tion are seen on the ground.
KATI announces shut-down on Wednesday
Industrialiststhreaten strike
against power outage
Environmenterosionhurting
economyK A R A C H I :Environmental degradationis costing Pakistan's econo-my approximately Rs1 bil-lion a day, while the recentflood wrecked furtherhavoc to it as hundreds ofpeople died, millions weredisplaced and 30 per cent ofthe country was devastated.
This was stated by theProject Director ofNational ImpactAssessment Programme(NIAP), Dr AurangzebKhan, according to a state-ment issued here onSaturday by the IUCN.
It said that a workshopwas organised byInternational Union ofConversation of Nature(IUCN) titled "EIAMapping Analysis" aimedat implementing NIAP inPakistan.-APP
KCCIdelegation
meetsMalik
ISLAMABAD: SirajKassam Teli, Chairman,Businessmen Group & for-mer President KarachiChamber of Commerceand Industry, ZubairMotiwala, Special Adviserto CM on Investments,Vice Chairman BMG andformer President, HaroonFarooki, Vice ChairmanBMG and FormerPresident, MuhammadSaeed Shafiq, President,Talat Mahmood, SeniorVice President, JunaidEsmail Makda, VicePresident, Abdul MajeedMemon, Former SVP andChairman of SpecialCommittee on Smalltraders attended a speciallyconvened session withFederal Interior Minister, ARehman Malik, Syed QaimAli Shah, Chief Minister -Sindh and Senator AbdulHaseeb Khan.-APP
US envoydistributes
ration amongvictims
SUKKUR: TheAmbassador of the UnitedStates to Pakistan,Cameron Munter, onSaturday visited villageHassan Khan Jamali inJacobabad and distributedration among the floodaffectees.
He was accompanied bythe Consul General of USAin Karachi, WilliamMartin. The Envoy saidlater that the United Stateswould continue assistingthe flood affectees.
Cameron Munter furtherstated said that the US iscontributing 60 per cent ofthe total food supply beingdistributed by the WorldFood Programme.
He also lauded the floodrelief efforts undertaken bythe personnel of PakistanArmy.-APP
PIA defiespress report
KARACHI: A PIAspokesman said here onSaturday that the report ina section of the press aboutso- called mysterious con-signments booked by PIAfrom New York for thePresidency is wrong and isdenied.
A statement issued heresaid that contrary to thereport no baggage or cargowas booked on flight PK722/ 261010 on which theFederal Minister forDefence also reportedlytravelled from New York.
It may be mentioned thatthe consignment contain-ing cartons of books titled"Reconciliation" byShaheed MohatarmaBenazir Bhutto have occa-sionally been booked fromNew York for thePresidency.
All shipment and securi-ty formalities are strictlyfollowed and payment forshipments received, thePIA statement said.-APP
PGJDCpavilion in
Munichgem show
Staff Reporter
KARACHI: PakistanGems and JewelleryDevelopment Company(PGJDC) has set upPakistan Pavilion in theMineralientage Munchen(Munich Mineral and GemShow 2010) under thebrand name "Gems &Jewellery - Pakistan". Theshow started from October29, 2010 and will endtoday.
This is the second timethat PGDJC is participat-ing in the Munich Showsince 2009. PGJDC hastaken exhibitors from allover Pakistan in theMunich Mineral Show.These exhibitors areselected from Karachi,Lahore, Quetta &Peshawar. The exhibitorswill decorate the Pakistanpavilion with preciousand semi precious gem-stones and mineral speci-mens which are foundfrom different regions ofthe country.
KARACHI: Chairman KATI S Johar Ali Qandhari, former chairman Mian Zahid Hussain, Vice-ChairmanFB Area Association M Haroon Shamsi, Chairman North Karachi Association Faraz Mirza, Chairman
Landhi Association Riaz Ahmed and Chairman Site-Super Highway Association Raja Illyas are seen at apress breifing held at KATI office here.-Photo by Imran Sharif
KARACHI: Dr Mirza Ikhtiar Baig Federal Advisor Textile presenting plaque toWilliam J Martin US Consul General at the dinner hosted in his honour, attend-ed by senior diplomats, Ministers and high Government Officials.-Staff Photo
TORONTO: S M Muneer Chairman Pakistan-Canada Business Council present-ing shield and Sindhi Topi with Ajrak to Eric Hoskin Minister of Citizen and
Immigration of Canada Sahibazada A Khan Consul General of Pakistan inToronto also seen in the picture.-Staff Photo
KARACHI: Zaiviji Ismail bin Abdullah Chairman & Managing Director ShellPakistan receiving 1st Global CEO Excellence Award from Federal Minister for
Petroleum & Natural Resources Naveed Qamar.-Staff Photo
3Sunday, October 31, 2010Analysis & Feature
Saudi Arabia is beingdrawn into efforts toreach a settlement to
the Afghan war, despite itsreluctance to become tooembroiled with Islamist mili-tants it once backed, diplo-mats and analysts say.
But they say Saudi Arabiawould be unwilling to for-mally mediate in any peacetalks. Like other countriesinvolved, it wants Afghans totake the lead with outsideplayers acting more as facili-tators.
"Everybody has a very badexperience in their efforts tomediate between Afghans,"said a senior diplomat inKabul.
"It's very simple, if you tryto mediate between them,both sides will push theirluck and it will fall, believeme it will fall. The third partycannot hold it," he said.
Saudi Arabia has made nopublic comment on an appealfrom Kabul to help mediatein talks with insurgents to tryto bring an end to the nine-year war in Afghanistan.
But analysts and diplomatssay the kingdom, which host-ed secret talks with theTaliban in Mecca in 2008, isexpected to come under pres-sure from the United States tohelp Washington find an exitstrategy from an increasinglyunpopular war.
Saudi Arabia enjoys con-siderable influence over theMuslim world both becauseof its authority as home toIslam's holiest sites and itshefty financial clout from oilearnings.
"There is a lot of pressureon the Saudis from the US tohelp mediate in Afghanistan,"said one western diplomat inRiyadh.
Official sources say that forthe first time all the main par-
ties involved, from the gov-ernment to insurgents, fromWashington to Pakistan, areseriously considering ways toreach a peace deal.
They have cited SaudiArabia, Turkey and theUnited Arab Emirates aspotential intermediaries,along with Pakistan, in whatare as yet very preliminary"talks about talks."
"Saudi Arabia, UAE,Pakistan can make the rightkind of noises saying: 'wesupport it' and I think thatwill make a difference," saidthe diplomat in Kabul.
One source with knowledgeof talks about Afghanistansaid Riyadh might be morewilling to help than beforesince peace efforts now havethe backing of Washington --missing in 2008.
REPUTATION AT RISKSaudi Arabia, along with
Pakistan and the UnitedStates, backed Islamist insur-gents fighting the Soviets inthe 1980s, and later becomeone of only three countries torecognize the Taliban gov-ernment that ruledAfghanistan from 1996 to2001.
But it is reluctant tobecome too closely associat-ed with peace talks afterworking hard to shake offany public perception of linksto Islamist militancy.
Fifteen of the 19 meninvolved in the September11, 2001, attacks on theUnited States were fromSaudi Arabia, and al Qaedashares the kingdom's funda-mentalist Wahhabi interpreta-tion of Islam.
Diplomats say Western vis-itors have been lobbying thekingdom since last year tohelp mediate but it remainswary after the 2008 talkscame to nothing.
"The Saudis might interme-diate but they want to hearfrom the Afghan factions firstin public that they are seriousabout talks this time," said asenior Western diplomat.
"They don't want to puttheir reputation at risk bybacking a peace project thatmay not work."
Afghan diplomats say theyhope Riyadh will getinvolved.
"Saudi Arabia has a majorrole and we hope inAfghanistan that Saudi playsan important role as it did inthe past in Afghanistan and inother countries," said SaidAnwarshah Ghaffari,Afghanistan's charge d'af-faires in Riyadh.
"The kingdom has itsweight in the Islamic worldand we look at it as our olderbrother," he said.
Former intelligence chiefPrince Turki al-Faisal, whohas dealt with the Talibanbefore, last week cited rec-onciliation efforts in the pastas a sign of Saudi support forAfghanistan, but he gave nohint about revisiting thetalks.
Foreign Minister PrinceSaud al-Faisal said in Januarythe Taliban must deny sanc-tuary to al Qaeda leaderOsama bin Laden before thekingdom would act as media-tor. Militants using the alQaeda name began launchingattacks on Saudi Arabia in2003.
Riyadh froze its ties withthe Taliban in 1998 over theirrefusal to hand over binLaden who had been strippedof Saudi citizenship for activ-ities against the ruling AlSaud family.
ALLY PAKISTAN,RIVAL IRAN
Diplomats and analysts saySaudi Arabia will be heavily
influenced by the approach ofPakistan, with which it sharesclose military and intelli-gence cooperation.
"If Pakistan supports peacetalks then the Saudis willhelp but they don't want toget too involved," saidHaroun Mir, an Afghan ana-lyst.
Pakistan is keen for a peacesettlement in Afghanistan to
end a war which it sees asincreasing instability athome, though it is also anx-ious to curb the influence ofrival India.
At the same time SunniSaudi Arabia has to balanceout the influence of Shi'iteIran, its main rival in theMiddle East and a powerfulAfghan neighbor.
"I think Saudi Arabia
should get more involved inAfghanistan. If we don't do itthen others will," said promi-nent Saudi journalist JamalKhashoggi.
But Saudi Arabia's rivalrywith Iran could also meanthat Tehran would lookaskance at any Saudi role inhelping mediate.
Dubai based political ana-lyst Theodore Karasik said it
was significant that SaudiKing Abdullah had spokenseveral times to IranianPresident MahmoudAhmadinejad over the pastfew weeks to discuss region-al issues.
Asked whether Iran andSaudi Arabia could reach anunderstanding onAfghanistan, he said: "It'spossible." -Reuters
SAUDI ARABIA SEEN EDGING
CAREFULLY INTO AFGHAN TALKS
Sprightly economicgrowth is keeping for-eign investors upbeat on
Egypt, outweighing uncertain-ty over the future leadershipand concerns that soaring foodprices could cause unrest.
Inflows of foreign cash tostocks and treasury bills seemto be holding firm before aparliamentary vote next monthand a presidential poll nextyear, although a currencywobble suggests the centralbank may be building reservesas a precaution.
No one doubts PresidentHosni Mubarak's ruling partywill dominate both races, butthe polls are being watched tosee how much space is givento the opposition and, morecrucially, whether the 82-year-old president seeks anotherterm.
If he does not, there is noobvious successor.
Stock and money markets
may face some political head-winds in the weeks andmonths ahead, but a gloomyglobal outlook makes Egypt's5.1 per cent growth in 2009/10and official forecasts for 6 percent this financial year tooattractive for many to ignore.
In September, a Reuters pollof economists forecast growthof 5.5 per cent in the year end-ing June 2011.
The head of the EgyptianExchange, Khaled SerrySayam, told the ReutersMiddle East InvestmentSummit that foreign investorswere still net buyers ofEgyptian stocks.
Investors face red tape andropey infrastructure but bene-fit from being next to Europeand a middle class that isspending more and cheaplabour in the country of 78million, helping draw invest-ment in export-related indus-tries and consumer products.
"The growth story is intactfrom my point of view," saidSebastien Henin, a vice-presi-dent at The National Investorin Abu Dhabi, which manages$120 million across the region.
Egyptian listed companieswere undervalued, trading atnine times their averageexpected earnings comparedto 11 times for emerging mar-kets as a whole, he said.
EGYPTIAN CONSUMERSReflecting the confidence,
Sweden's Electrolux thismonth agreed in principle tobuy Olympic Group, thebiggest appliance maker in theMiddle East and North Africa.
"That is a possible sign ofchange in that the consumermarket in Egypt is taken seri-ously and secondly they willbe able to use Egypt as a man-ufacturing base to exportfrom," Angus Blair, head ofresearch at investment bankBeltone Financial, said.
Foreign direct investmentdipped 16 per cent in 2009/10to $6.8 billion, but analystsmainly blame a global retreatfrom emerging markets, notconcerns about Egypt, for thatfall.
Direct investors with theirlonger term view seem likelyto look beyond the politicaluncertainty, confident therewill be no U-turn in the trendof economic liberalisationimplemented since 2004 evenif the pace slows in any politi-cal transition.
"Portfolio investments canbe far more volatile. For sure,if the newsflow is poor incoming months due to theseelections, if we have a kind ofverbal war between candidates... probably we could havesome volatility on the market,"Henin said.
Net foreign holdings ofEgyptian T-bills soared to $8.3billion in April from $530.4
million in December last year,then rose to $9.2 billion inmid-October until a marketsell-off, according to Ministryof Finance data cited by J.P.Morgan.
PRICES VS POLITICS
J P Morgan blamed therecent T-bill sell-off for a sud-den drop in the Egypt's poundin the past week, after monthsof stability. The pound reacheda five-year low of 5.774against the dollar on Tuesday,its lowest since July 2005.
Some analysts said the cen-tral bank may have let it slip tohelp exporters but may also begathering more dollars todefend the currency againstpre-election volatility if need-ed.
Beltone's Blair said theweakness was unusual givenemerging market currencieswere in demand. He said theslide might be driven byEgyptians, who are so accus-
tomed to three decades ofMubarak's rule that theprospect of any change isunnerving.
"I think (the pound's fall) isfrom domestic pressure, notexternal pressure, as manyglobal investors actually likethe overall economic picturein Egypt," he said.
Mubarak, in power since1981, has not said if he willrun for office again. Officialssuggest he will if he can. Butrumours about his health haverecurred since he had surgeryin March, even though he hasnow returned to a full workschedule.
If he does not run, manybelieve his son Gamal, 46,could be next or a candidatewith military experience.
John Sfakianakis, MENAregion chief economist forCredit Agricole, said pricerises not politics may be a big-ger worry.
"If people...don't havemoney to buy food, that is afar more serious issue thanpurely the issue of succes-sion, political discord and theNovember elections," hesaid.
Inflation has remained stub-bornly above 10 per cent butfood prices have risen a dizzy-ing 22 per cent, hurting thepoor most in a country where,according to the UnitedNations, about 20 per cent ofthe population live on lessthan $1 a day.
Price rises and subsidisedbread shortages in 2008 led toclashes with police.Determined to stop a repeat,the government was swift toreassure Egyptians that breadsupplies would not be affectedby the latest global wheatprice spike. It also raced torefill its stores after a droughthit its Russian supplier. -Reuters
For Egypt investors, growth trumps political risks
Three long-delayed
trade agreements with
South Korea, Panama
and Colombia could jump to
the top of the US congres-
sional agenda if Republicans
win control of the House of
Representatives next week.
While the fate of those
deals rests primarily with
President Barack Obama, US
business leaders say trade is
one area of potential compro-
mise between the White
House and Republicans in
2011.
"Trade has been at the back
of the bus for last two years
and I think there's a real
opportunity for trade to be in
the front seat next year," said
Christopher Wenk, senior
director for international pol-
icy at the US Chamber of
Commerce.
Republicans are expected to
pick up enough seats in
Tuesday's congressional elec-
tions to take control of the
House, which they lost to
Democrats in 2006.
Democrats are likely to hold
onto the Senate, but the
party's opposition to trade
agreements traditionally has
been strongest in the House.
Other factors could influ-
ence the debate too.
Obama, who tapped into the
Democratic party's aversion
to free-trade deals when he
ran for president in 2008,
must decide whether to push
Congress to approve the deals
negotiated by his predecessor
George W. Bush and risk
alienating a swath of his
Democratic Party base.
Indeed, critics of the deals,
such as Public Citizen's
Global Trade Watch, say
Obama risks his own re-elec-
tion in 2012 if he pushes the
three agreements through
without big changes.
"We're looking at over 100
House races where
Democrats are playing
defense and those campaign-
ing on 'fair trade' themes
appear a lot more likely of
succeeding," said Todd
Tucker, research director for
Global Trade Watch.
If the recovery of the US
economy remains sluggish --
and unemployment holds
near 10 per cent -- Obama
could face voters in 2012
who are even more skeptical
of trade deals. That would
hurt his chances in Ohio,
Pennsylvania, North Carolina
and Virginia -- states that
were important in his 2008
victory.
TEA PARTY INFLUENCE
Another wild card? The Tea
Party movement and what
side of the trade debate it will
join. Tea Party candidates,
who favor a smaller, less
expensive federal govern-
ment, could win dozens of
seats.
Representative Kevin
Brady, a Texas Republican,
said he thought most would
support the pacts.
But some analysts see a
more mixed effect.
"Some of these Tea Party
advocates may not be auto-
matic votes for trade agree-
ments. I think some of the
Tea Party members are prone
to the more populist rhetoric
about foreign influence and
jobs going overseas," said
Dan Griswold, director of
trade studies at the Cato
Institute.
"They'll help boost the
overall number of
Republicans, but also
increase the size of the more
trade-skeptical faction within
the Republican caucus,"
Griswold said.
Representative Dave Camp,
a Michigan Republican in
line to become chairman of
the House Ways and Means
Committee if Republicans
take control, has promised he
would hold early hearings on
the three trade agreements.
Republicans also could
make a push to give Obama
new "fast track" authority to
negotiate trade deals, which
would send a positive signal
of US interest in finishing the
nine-year-old Doha round of
world trade talks.
The current Ways and
Means chairman, Sander
Levin, a Michigan Democrat,
has been so loathe to deal
with trade that he has not
once invited Obama's chief
trade negotiator, US Trade
Representative Ron Kirk, to
testify publicly.
Obama has moved slowly
toward embracing the pacts
since entering the White
House, especially the one
with South Korea. He told
Kirk to try to resolve auto
and beef trade concerns
blocking the pact by the time
Obama travels to Seoul for a
summit of the Group of 20
major economies on Nov 11-
12. But many Democrats say
they can only support the
trade deal if the president
persuades the Koreans to
accept other difficult
demands in areas such as the
pact's investment chapter and
its financial services provi-
sions. -Reuters
Republican win could revive US trade deals
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Nisar talkingabout change
One should not be amused reading the state-
ment of Chaudhry Nisar Ali Khan, Leader of
the Opposition in the National Assembly hint-
ing towards a major change on the political
arena over the next few months. He, however,
made it clear that the PML-N would support
change only through democratic means. His
statement that the close allies of the present
government were not happy should be an eye
opener for the PPP leadership.
Nisar said his party wished that the present
government led by PPP completes its tenure
but seems that the party would bury with its
blunders and failures. PPP's loyal leaders were
being pushed to the walls. Most of the things he
has already said separately or collectively but
reiterating them at a point when efforts to join
various factions of Pakistan Muslim League are
going on certainly carries some weight.
In one of the pervious editorials it was dis-
cussed that bringing an in-house change may
not be as easy as being perceived certain quar-
ters. PML-N can't mull the support in the
assemblies to pass non-confidence resolution
against the prime minister as well any move to
impeach the president. The next best option is
any verdict against the prime minister and the
president by the Supreme Court of Pakistan.
The general consensus is that the apex court
has abstained from such a radical decision in
the larger interest of democracy and saving
Pakistan from any undesirable fallout. If PPP is
trying to save PPP-MQM alliance and form a
new alliance with PML-Q these are only the
preemptive moves to stop PML-N from pre-
senting non-confidence move against the prime
minister.
The situation would have not been all that
grave had PPP leadership been moving pru-
dently. Many of its opponents accuse the gov-
ernment of worst corruption but the real issue is
declining purchasing power of masses, poor
law & order situation, rising unemployment,
prolonged load shedding of electricity and gas,
target killing and above all the growing sense
of insecurity among the masses. People also
believe that this government is on a 'honey-
moon' and if dismissed would once again try to
solicit public sympathy by saying 'our govern-
ment was dismissed through conspiracy'.
Nisar Ali Khan is also the chairman of
Pakistan Accounts Committee if he and his
party believe corruption is rampant should
work extra hard, pinpoint the corrupt and sub-
mit credible evidence against the accused and
take them to the court of law. Similarly, courts
should also complete hearing within the short-
est possible time and give the final verdict.
Nearly two and half year has been wasted in
blame game. Time is running out fast move
fast, take the culprits to the task and secure
your position in the next general election.
4Sunday, October 31, 2010
Publisher & Editor-in-Chief: Amir A. Ashary
Editor: Shakil H. Jafri
Executive Editor: Manzar Naqvi
Honorary Advisory Board
Haseeb Khan, FCA
Asim Abbas Ashary, CPA
Akhtar M. Zaidi, FCA
Dr. A. Hadi Shahid, FCA
Muhammad Arif
S. Muneer Hussain Rizvi
Khurram Shehzad, CFA
Prof. Zakaria Sajid (KU)
Zahid Bukhari SVP HBL (retd)
Ismat Sabir
Head office
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URL: www.thefinancialdaily.comEmail Address: [email protected]
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Telephone: 92-42-6675595 Fax: 92-42-6664349
Email Address: [email protected]
The Financial Daily InternationalVol 4, Issue 84
Shabbir Kazmi
Over the last few years thelingering sugar crisis hasgone from bad to worse
mainly because of myopic policiesof the government and presence ofgroups having vested interest. Theassertion that millers alone areresponsible for the crisis is incorrectand misleading. In fact the feudallords, having access to power corri-dors are responsible for the prevail-ing situation. They wear many capsi.e. growers, middlemen and themillers. The role of bureaucrats hasalso been disappointing becausethey are efficient in maintaining cor-dial relationship with all the groupsbut are least bothered about theindustry termed 'driving engine' ofthe rural economy. Though, nearly adozen ministries at federal andprovincial levels claim a role indeveloping policies for the sugarindustry, none seems to understand'sugarnomics'.
Pakistan has a long history of effi-cient operation of sugar mills, whenstaff used to get around six annualbonus and shareholders were paiddividend up to 45 per cent. It wasmainly because mills used to operateup from 150 to 200 days. There wasno excise duty applicable on sugarproduced above the stipulated num-ber of crushing days. As against this,crushing is restricted to less than 150days and there is no incentive formills for longer period. In fact crush-ing days have reduced because ofhighly inadequate availability ofsugarcane. Neither the governmentnor the growers seem interested inenhancing production.
Sector analysts say that growerswant to keep sugarcane supplyrestricted so that they could squeezemore money from the millers. They
also say that farmers hardly makeany attempt to increase productivity.Sugarcane yield in Pakistan is near-ly half of the yield achieved in India.In Punjab yield low is because ofcultivation of sugarcane in 'cottonbelt'. Many of the areas have dry andhigh temperate climate which is suit-able for cotton but certainly harmfulfor sugarcane. Therefore, the aver-age yield as well as recovery inPunjab is far lower as compared toSindh.
Over the years sugar industry hasremained 'single product' industry
which raises cost of production.Though, lately efforts were made forproduct diversification, optimizationremained a far cry. Industry has notbeen able to make the best use ofmolasses and baggase. Bulk of themolasses produced in the country isexported and attached distilleries ofsugar mills barely operate. The gov-ernment is keen in popularizing useof blended petrol (E-10) but neitherthe mills nor the oil marketing com-panies are ready to go for massivemarketing/sale of E-10 despite beingmore efficient and environmentfriendly.
Similarly, government has failed inoffering an attractive bulk powerpurchase tariff to sugar mills. Whilethe government encourages creationof IPPs and even the RPPs it is notwilling to offer an attractive rate tosugar mills and granting them IPPsstatus. Sugar mills have attachedpower houses where steam is pro-
duced by burning low cost baggase.The delay in finalizing the tariff isbecause Ministry of Water andPower is not ready to offer sugarmills the rate being offered to IPPsand RPPs. Sugar mills have thecapacity to collectively producemore than 3,000MW electricity,closer to the point of consumptionwhich can also help in containingtransmission and distribution losses.
Cost of sugar production has spi-raled because of persistent hike inthe support price of sugarcane andalso due to inability of the industry
to broaden the product mix. If gov-ernment is serious in bringing downcost of production and achievingoptimum capacity utilization ofmills, producing wider range ofproducts from molasses and award-ing sugar mills the status of IPPs canchange the entire landscape.However, none of these can beachieved without doubling sugar-cane output in the country. Thecountry need not bring additionalarea under sugarcane cultivation butto improve yield.
Since increasing sugarcane pro-duction will take longer time underthe makeshift arrangement millsshould be allowed to import rawsugar. An incentive may also be pro-vided by announcing that half of thequantity of refined sugar producedcould be exported. Mills may also beallowed to retain the foreignexchange earned from export ofrefined sugar to finance raw sugar
import next year.Experts are of the view that retail
price of sugar could be reduced tohalf over the next three years byadopting the above stated policies.All the attempts to import refinedsugar must be discouraged. The gov-ernment has been committing themistake of importing refined sugarat higher prices and at a wrong time.The government must put completeban on import of refined sugar andfacilitate import of raw sugar.
The government should also stopfixing sugarcane support price. If thegovernment stopped fixing cottonsupport price decades ago why it isadamant on fixing sugarcane supportprice? The policy of pricing on thebasis of weight should also be dis-continued and the new bench marshould be recovery of sugar. Theproposed policy would bode verywell for the sugar mills operating inthe cotton growing belt.
The government has constituted'Sugar Board' which has failed income up with suggestions toincrease sugarcane output and bring-ing down cost of indigenously pro-duced sugar. A new Board must beannounced at the earliest.
It may also be kept in mind thatthis year both production and yieldare expected to be 25 per cent high-er, at least due to more than amplesupply of water. The governmentshould also not insist on commenc-ing sugarcane crushing till earlyDecember to attain maximumrecovery. Running the mills earlyand closing intermittently is worsethan commencement of crushinglate and running the mills at opti-mum capacity. Act prudently andsee the difference. If other coun-tries can achieve higher productionat lower cost why should Pakistanbe a lager?
Resolving omnipresentsugar crisis
Fear of unknownPakistan being an ally in 'War on Terror' is sacrificing to an extent which is not visible to the western world. The sacrifices its armed forces and people are
giving are un-precedent in the history. It is not a war where the enemy is identified and a planning is done to eliminate it. It is a war where perceptions need tobe clear. Public support is must. As there is no time frame there are always pressures from within and outside.
But it is very disappointing for all of us when in-spite of all our sufferings and sacrifices of lives and property, economical setbacks leading to further prob-lems, US messages convey that if some terror incident takes place in the US or in Europe Pakistan would be held responsible. Why this fear of terror is creat-ed? Why this is assumed that if something happens any where some Pakistani is involved? Why the hype is created that anything happening around the worldhas been planned in Pakistan. It is not fair to make a nation hostage to one incident for which no one knows who may be the perpetuator and responsible. Thethreatening messages may also disappoint people leading to widening of communication gaps. The government needs people to stand by its side, because nogovernment can do anything without the support of its people and no Army can succeed without the support of its government and people. It is very importantto understand that the consequences of such messages, as these are provocative encourage non state actors to mobilize and do something.
It is time that US understands the limitations and problems faced by Pakistan due to its collaboration in war on terror.. Dignity and honour is above all.Eliminate the fear of 'if' and 'unknown'.
Moral support, goodwill and inner sincerity are more important than financial aid. Understanding of the problems facing Pakistan by the US would help inbridging the trust deficit and help in strengthening bilateral relations.
Anwar Parveen, Islamabad
Enjoying free electriccityI want to draw the attention of the authorities concerned towards a very important issue. In Karachi where, the common people are suffering form daily elec-
tricity outages, some innovative people have illegally obtained Kunda connection and enjoy free electricity while others face the brutal hours of load shedding.The pilferers also turn a blind eye to the energy crisis that is hitting the economy hard.
The gap between the supply and demand grew over the years, landing us into the present state of chaos. Since thermal power is being partially produced fromgas as fuel, which costs one third of the power generated from fuel oil, the absence of gas supply will further reduce power production. A combination of inher-ent flaws and delays in dealing with the issue of power generation has exacerbated the power crisis.
The KESC should launch special campaigns against such electricity thieves who are using free electricity and do not have the realization that some one elsehas to pay the cost.
Fatima Raza, Karachi
US Secretary ofState HillaryClinton denied on
Thursday the United Stateswas seeking to contain Chinaas she began a two-week tripto an Asia-Pacific region rat-tled by recent Chineseassertiveness.
Washington and Beijinghave clashed this year overissues including the value ofChina's currency, US armssales to Taiwan and USPresident Barack Obama'sFebruary meeting with theDalai Lama, the exiledTibetan spiritual leader.
China's relations with itsneighbours have also beenstrained by territorial dis-putes notably with Japan -
but also with SoutheastAsian nations that have com-peting claims over the SouthChina Sea.
The topUS diplo-mat, startinga trip toseven Asia-P a c i f i cn a t i o n si n c l u d i n gC h i n a ,sought tostrike a bal-ance between the US desireto work with Beijing and itsconcerns about someChinese policies.
"The relationship betweenChina and the United Statesis complex and of enormous
consequence and we arecommitted to getting itright", Clinton said in a
speech on US AsiaPacificpolicy delivered inHonolulu. "There are somein both countries whobelieve that China's interestsand ours are fundamentallyat odds. They apply a zero-
sum calculation ...so whenever one of us suc-
ceeds, the other must fail",
she said."But that is not our view".While saying the two
nations work together onmany issues, Clinton alsoalluded to their many differ-ences, including US desires
to see the Chinese currencywelcome as well as US criti-cism of China's human rightsrecord.
"There are also many inChina who still believe thatthe US is bent on containingChina and I would simplypoint out that since thebeginning of our diplomaticrelations, China has experi-enced breathtaking growthand development", she said.
"This is due, of course, tothe hard work of the Chinesepeople. But US policy hasconsistently -throughRepublican and Democraticadministrations andCongresses -supported thisgoal since the 1970s", shesaid. Reuters
US not seekingto contain China
Though, nearly a dozen ministries at fed-
eral and provincial levels claim a role in
developing policies for the sugar industry,
none seems to understand 'sugarnomics'.
Washington and Beijing have clashed
this year over issues including the value
of China's currency, US arms sales to
Taiwan and US President Barack
Obama's February meeting with the Dalai
Lama, the exiled Tibetan spiritual leader.
Dengue’s invasion;knockdown warning
Dengue, a specificepidemic diseaseis now assailingon our land. It is aserious flu-like
illness that is transmitted bymosquitoes, and can develop
into dengue haemorrhagicfever, which can be fatal.Dengue fever swiftly eats upthe platelets inside the humanbody, which results in healthdeterioration and even death.
As we know that the basiccause of mosquito birth is mudand no doubt after the recentflood we, government and allmedical organisation werealready on alert for fightinghealth annihilative diseases likemalaria. But Dengue is anothershock for them because themosquitoes of this disease
throng on stagnant fresh water.Unwell individuals who feel
they may have been exposed tomosquitoes should seek imme-diate medical advice.
The rising death toll in
dengue viral fever which iscaused by a unique species ofmosquito Aedes aegypti. It isone of these neglected diseases... it's basically been ignoredfor many, many years.
Essentially Dengue starts itshistory in the 1780's simultane-
ously in Asia, Africa and NorthAmerica and it is found insome 100 countries around theworld and now it occurs inIndia, Egypt, the West Indies,etc., is of short duration, andrarely fatal and now in Pakistanafter Swine flu, Dengue is oneof the most important tropicaldiseases. While it doesn't killthat many people, it hastremendous our economic andsocial impact as well.
The number of dengue fevercases has more than doubledover the past decade has beenreported by the World Health
Organisation.The incidence of dengue
fever across the world hasincreased in recent years, andalmost two-fifths of the world'spopulation is at risk. The World
Health Organisation (WHO)advises that the "only way toprevent dengue virus transmis-sion is to combat the disease-carrying mosquitoes."
According to the WorldHealth Organisation, some 3billion people, two-fifths of the
world's population, faces therisk of being affected by thedisease which is prevalent inmore than 110 countries. Theremay be 50 million cases ofdengue infection worldwideevery year.
Symptoms include fever,joint pain, rash and nausea.People with the more severeform of the disease --denguehemorrhagic fever -- may expe-rience breathing problems,bruising, bleeding from thenose or gums, and circulatorysystem breakdown
World Health Organisation-Pakistan representative GuidoSabatinelli told that even at thestart of the malaria season therewere "400,000 suspectedcases" and at the start ofDengue season there were“1,000” suspected casesnationwide.
After the rapidly spreading ofthis deadly dengue virus acrossour country too as manydengue fever patients havebeen brought to a hospital fromvaries cities, while died rate isgoing up day by day.
A 2010 study by Khan et alhas shown that the average ageof individuals contractingdengue fever has decreased,suggesting that youngerpatients may be more suscepti-ble. Despite that dengue virusremains a major cause of mor-bidity and mortality, there isscarcity of data looking at theoverall trend of dengue infec-tion in Pakistan.
The international reportedoutcome the deaths ratio fromall the regions of the world hasreached to 4000 approximately.
Where as the outbreak ofdengue fever, which has report-edly claimed more than deathof 27 people this year with afurther 5,000 confirmed cases.
Dengue Fever Grips morethan 1048 Patients in Punjabwith more than 16 deaths andthe death toll of Sindh's denguevictims has mounted to 7 with atotal of 1600 cases emerging inthe province where as the 160new cases are appeared inprovince since last night. Thetotal number of positive casesin Sindh is reported to be about1,668.
The Chief Minister of Sindhgave Rs10 million to the HealthMinistry to buy Rapid AntigenKits which can detect the viruswithin six hours of testing andto curb the virus.
The Punjab HealthDepartment was blamed byspeakers at a seminar for hav-ing failed miserably in control-ling the outbreak of the denguevirus across the province andprimarily in Lahore. Theycalled the outbreak the coun-try's worst epidemic, addingthat healthcare officials haddeliberately understated thenumber of patients affectedand that number was increas-ing at an alarming rate. Theysaid patients suffering fromdengue were visiting both theprivate and public health facil-ities in the thousands asopposed to the numbers regis-tered by the HealthDepartment, more than 100patients have been admitted inLahore hospitals during last 24hours while at least 18 teamsare working in Lahore to con-trol the Dengue epidemic.
The director of the NationalInstitute of Blood Diseases(NIBD) haematologist Dr TahirShamsi warns that the govern-ment's data is incomplete as notall cases are being recognisedor reported.
Pakistan Academy of FamilyPhysicians president Dr TariqMahmood Mian, whileaddressing the seminar, saidthat the Health Department hadconcealed the number ofdengue sufferers to mislead thePunjab government. He saidthe number of patients visitingprivate hospitals and clinicswas many times higher thanthe figures registered byhealthcare authorities and thiswas a highly condemnable act.
But my personal thinking issomething like that the govern-ment has failed to control therising threat of dengue fever asover 4000 mosquito bitten peo-ple were brought to hospitalsacross Pakistan.
Millions of flood-affectedpeople find it difficult to pro-tect themselves against the hor-rifying attack of dengue mos-quito especially thoseaffectees, who are sufferingtheir though time under the nat-
ural blue roof. They have notfreed from the wound of floodnow a new monster is ready toattack on them.
A meeting of experts hostedby the National Institute ofHealth in Islamabad warnedthat although dengue was arisk, another mosquito-bornedisease malaria, posed a muchmore serious threat especiallyin the flood-affected areas.
Many organisations workingwith flood victims, includingUK-based health charityMerlin and children's organisa-tion Plan International havewarned that flood-hit areas pro-vide ideal breeding grounds formosquitoes and a potentialDengue epidemic. PlanInternational has estimated thatfloods could double the annualcount of Dengue and Malariacases almost two million casesof Malaria and more than threethousand case of Dengue inPakistan.
Umar Farooq Baloch, theEDO, Health, Lahore said:'Spraying would be carried outin affected areas twice a day toensure maximum prevention.'Principal of Allama IqbalMedical College, Javed Akram,said 'the tests for dengue feverare not expensive and everyindividual should get thesedone as a precaution thesedays'.
This Pakistan study adds tothe increasing concern overdengue fever control. TheWHO South East AsiaRegional Office (SEARO) ear-lier this year has reinforced theneed for accelerating importantinterventions in order to controlof this infection. They haveadvised that "social mobilisa-tion together with politicalcommitment are crucial."
Local Scientists who identi-fied a crucial step in how thedengue virus infects a cell saytheir discovery could lead tonew drugs to prevent or treatthe infection.
The Pakistan Institute ofMedical Science (PIMS)spokesman has kept optimismsaying don't be scared even ifthe test comes out positiveunless it has complications.
However, the facts present arather grave situation as there isno tested or approved vaccinefor the dengue flavivirus. TheNational Institute of Health(NIH) is testing 11 vaccines toovercome the dengue epidem-ic, local media reported.
Dr Masood Akhtar Sheikh,chairman of the PakistanMedical Society said in hisaddress of meeting on thebased on the measures for pre-venting dengue; Dengue feveris a self limiting disease and ifmanaged properly, it has analmost 100 percent recoveryrate.
He added that there wasn't aspecific way of treating denguefever and prevention was theonly way to control the dis-ease. He said that the patientssuffering from dengue, howev-er, should not use asprin or anyother forms of non-steroidalanti-inflammatory drugs."These medicines can be haz-ardous for dengue patients asthey might result in plateletsdysfunction," he said.
Dr Sheikh explained that
dengue has four types, DEN I,DEN II, DEN III, and DEN IV.
He said that a vaccine, whichgave protection against eachtype, was direly needed.Otherwise, he said, preventionagainst one type could lead to
the severity of the other.He said that effective preven-
tion measures were alsorequired to be taken to controlthe breeding of the mosquito.
The PMS senior vice presi-dent Dr Israr Hussain said thatthe Society has been chalkingout an effective dengue pre-ventive campaign for generalpublic, to create awarenessabout simple and cost effectivemethods of controlling the dis-ease.
The dengue mosquito, Aedies
Egypti, has the ability to repro-duce in a very thin water filmof fresh water. It has an averagelife span of only two to threeweeks and a capacity to lay 250
to 300 eggs. The formation ofthin film of water should beavoided. A simpler method toavoid the breeding of thedengue carrying mosquito is tokeep changing the water inflower pots, money plants,
water left in tires, bottles, bathtubs, and water tanks, everyfive days.
After its eradication in the1970s, the first confirmeddengue hemorrhagic fever out-break in Pakistan occurred in1994. As in previous years,fumigation and dengue aware-ness campaigns are in actionbut it is clear that not enoughhas been done in Pakistan tocontrol and eradicate this dis-ease. And government has toalso start distribution of useful
information /pamphletsamongst the communityregarding adopting effectivepreventive measures againstthe mosquitoes.
5Sunday, October 31, 2010
Death toll cross the bounds of 27 lives“400,000 suspected cases” worldwide.
After being bitten by a Dengue carrying the virus, the incubationperiod ranges from three to 15 (usually five to eight) days beforethe signs and symptoms of dengue appear. Dengue starts withchills, headache, pain upon moving the eyes, and low backache.Painful aching in the legs and joints occurs during the first hoursof illness. The temperature rises quickly as high as 104 F (40 C),with relative low heart rate (bradycardia) and low blood pres-sure(hypotension). The eyes become reddened. A flushing or palepink rash comes over the face and then disappears. The glands(lymph nodes) in the neck and groin are often swollen.
Dengue FeverSymptoms and Signs
The time between the bite of a mosquito carrying dengue virusand the start of symptoms averages 4 to 6 days, with a range of 3to 14 days. An infected person cannot spread the infection to otherpersons but can be a source of dengue viru
How soon after exposuredo symptoms appear?
The dengue mosquito looks like many other mosquitoes so it isdifficult for the layperson to identify without the use of a micro-scope. As a rule of thumb, if you have mosquitoes biting youindoors during the day, it is likely that they are dengue mosquitoes.
The dengue mosquito (Aedes aegypti) can more readily beidentified by its behavior. Look for these signs:n It likes to live indoors and bite people indoorsn It is hard to catch; it moves very quickly, darting back and forthn It likes to hide under furniture and bite people around the feetand anklesn Its bite is often relatively painless, so people may not noticethey are being bitten or they may think they are being bitten bysandflies/biting midges.
The adult mosquito prefers to rest in dark areas inside and underhouses and buildings. Favourite resting spots are under beds,tables and chairs; in wardrobes and closets; on piles of dirty laun-dry and shoes; inside open containers; in dark and quiet rooms;and even on dark objects such as clothing or furniture. So keepalert form this. The dengue mosquito prefers to bite humans dur-ing daylight. It is very cautious when biting, flying away quicklyat the slightest disturbance. An effective way to kill adult mosqui-toes is to apply a residual insecticide (cockroach surface spray)onto the areas where they prefer to rest.
How can you identify ifit's a dengue mosquito?
The dengue mosquito frequents backyards in search ofcontainers holding water inside and outside the home, such as:n cans n buckets n jarsn vases n Pot plant dishesn birdbaths boatsn Tyres - discarded with no rimsn roof gutters blocked by leavesn striking containers (used to strike plants)n Tarpaulins and black plastic.It can also breed in natural containers like:n bromeliadsn Fallen palm fronds.In drier conditions it also breeds in water in subterranean sitessuch as:n wells n telecommunication pitsn sump pits n Gully traps.
The dengue mosquito does not fly very far, so if you get rid ofmosquito breeding sites around your home, you will significantlyreduce your risk of being bitten by dengue mosquitoes.
Where are the denguemosquito breeding sites?
Dengue fever is a disease caused by a family of viruses that aretransmitted by mosquitoes. It is an acute illness of sudden onsetthat usually follows a benign course with symptoms such asheadache, fever, exhaustion, severe muscle and joint pain,swollen glands , and rash. The presence of "dengue triad"fever,rash, and headache and other pains is particularly characteristic ofdengue. Other signs of dengue fever include bleeding gums,severe pain behind the eyes, and red palms and soles.
Dengue strikes people with low levels of immunity. Because itis caused by one of four serotypes of virus, it is possible to getdengue fever multiple times. However, an attack of dengue pro-duces immunity for a lifetime to that particular serotype to whichthe patient was exposed. Dengue goes by other names, including"breakbone" or "dandy fever." Victims of dengue often have con-tortions due to the intense joint and muscle pain, hence the namebreakbone fever.
What is dengue?
The vector of dengue andyellow fever viruses,have an affinity for feed-
ing on human blood and a ten-dency to forego feeding onsugar.
This observation challengestwo tenets of mosquito biology:
(1) mosquitoes imbibe plantcarbohydrates for synthesis ofenergy reserves and blood forreproduction and (2) egg pro-duction is reduced when mos-quitoes feed on human bloodcompared with blood fromother species. Sub-optimalamounts of the amino acidisoleucine in human blood (par-ticularly free isoleucine in plas-ma) are thought to be responsi-ble for lowered egg productionwhen human blood is ingested.We tested the hypothesis thatfeeding on human blood isassociated with a selectiveadvantage for Ae. Aegypti andis an underlying reason for thismosquito's intimate and epi-demiologically important rela-
tionship with human beings.Our five experiments examinedthe effects of differentisoleucine concentrations onaccumulated energy reserves,frequency of host contact, sur-vival, and egg production.
When mosquitoes imbibedblood meals over a 7- to 10-dperiod and were not fed sugar,increased isoleucine concen-tration decreased energyreserves and did not increaseegg production. Aedes aegyptitook smaller but more frequentblood meals when feeding on alow-isoleucine human hostdaily compared with a high-isoleucine mouse host.Previous reports thatisoleucine enhances egg pro-duction were confirmed onlywhen females were fed sugar,an unusual behavior for mostdomestic Ae. aegypti popula-tions. Females fed humanblood and water had greaterage-specific survival (lx),reproductive output (mx), and
cumulative net replacement(R0) than cohorts fed humanblood plus sugar or isoleucine-rich mouse blood with or with-out access to sugar. The uniqueisoleucine concentration ofhuman blood is associated withAe. aegypti's unusual propen-
sity to feed preferentially andfrequently on humans-a behav-ior that increases this mosqui-to's fitness, synthesis of energyreserves, and contact withhuman hosts, making it anespecially effective dissemina-tor of human pathogens.
Female Aedes Aegypti
ALI ZHORAIZ JAFFRI
QuirkyContort USB
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6 Sunday, October 31, 2010
Latest Gadgets Elecom
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Novatech nTablet to get Android &
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CUORE CX 700,000
CUORE CX CNG 745,000
CUORE CX A/T 730,000
CUORE ECOMATIC 785,000
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Hilux 4x2 Standard 1,459,000
Hilux 4x2 up Spec 1,499,000
Hilux 4x2 Grand Cabin 2,004,000
COROLLA 1.3L XLi 1,300,000
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COROLLA 2.0D 1,358,000
COROLLA 2.0D SALOON 1,713,000
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1.8L ALTIS MT 1,713,000
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CAMRY 2400cc M/T 6,960,000
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CITY Manual Transmission 1,285,000
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CHERY QQ 0.8L BASIC 588,000
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CHERY QQ 0.8L BASIC 588,000
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CULTUS VXRi 837,000
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SWIFT 1,058,000
LIANA 1.3L RXI MT 1,129,000
LIANA1.3L RXI MT CNG 1,199,000
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Updated on 30 October, 2010
ASUS Eee PC1015PWUnveiled
ASUS is launching another net-book. This next model is called theASUS Eee PC 1015PW and is dis-tinctive in that its purple in colour.Technical specs show that it is verysimilar to the 1015PEM. It has a dualcore 1.5GHz Intel Atom processorinside. It has wireless 802.11n as wellas Bluetooth 3.0
Acer Liquid MetalAndroid 2.2
Acer has announced the Acer Liquid Metal smart-phone. This particular phone runs the Android 2.2 oper-ating system and is classed by Acer as the latest genera-tion of Acer smartphones. The Liquid Metal has a 3.6inch screen, has an 800MHz Qualcomm MSM7230processor and has 802.11n wireless networking. Thephone is a HSDPA device capable of connecting up tospeeds of 14.4Mbps when in optimal network coverage.
China has built what maybe the world's fastestcomputer, a signal that
the Chinese are ready to pres-ent a serious challenge to theU.S. as the dominant force insupercomputing.
The Tianhe-1A, unveiled
Thursday, set a performancerecord of 2.507 petaflops, easi-ly surpassing the current recordholder, the Cray XT5 Jaguar.Whether the Chinese system isofficially crowned the world'sfastest computer will have towait a couple of weeks, whenthe Top 500 list is scheduled tobe released at the InternationalSupercomputing Conference inGermany.
In the meantime, the stats forthe Tianhe-1A make it appearto be the leader. The system,powered by 7,168 Nvidia TeslaM2050 GPUs and 14,336 IntelXeon CPUs, speeded past
Jaguar's 1.75 petaflops. Thelatter supercomputer, housed atthe Oak Ridge, Tenn., NationalLaboratory, uses 224,162Opteron processors fromAdvanced Micro Devices. Apetaflops is equal to 1,000 tril-lion operations per second.
Designed at the NationalUniversity of DefenseTechnology in China, theTianhe-1A comprises 103 com-puter racks that cover 17,000square feet. The system con-sumes 4.04 megawatts of elec-tricity.
The Tianhe-1A couldn't havebeen built without U.S.-madeprocessors, which remain thebest in the world. However,China developed the very fastinterconnect technology thatmoves data between theprocessors and wrote the soft-ware that runs the supercom-puter.
China claimsworld's fastestSupercomputer
Microsoft Office 2011for the Mac becameavailable through
retailers Tuesday, bringing tousers of Apple computers thesame cloud-based services thathave been available onWindows PCs for five months.
The latest Mac version ofMicrosoft's productivity suitealso includes Outlook for the firsttime, giving Apple customersmore for their money. The suite isavailable in 13 languages and
will be available at retailers in 45countries by November.
With Office 2011, Mac userswill get the same collaborationand social networking toolsthat shipped with Office 2010for Windows in May. The newMac version offers a directconnection to Office WebApps, which is Microsoft'scloud-based version of thedesktop suite.
Another major new feature isthe addition of Outlook, whichis Microsoft's email client, con-tact manager and calendar utili-ty. In the Mac version of Office,Outlook replaces the Entouragecomponent that was used inprevious versions of the suite.
Among the Outlook featuresApple customers might finduseful is the "Conversation"view that groups all messageson one topic, a capability simi-lar to the "Organize By Thread"
option in Apple's Mail client.In addition, the Outlook data-
base is expected to work betterwith Apple's Time Machinebackup software in the Mac.With Entourage, TimeMachine would backup thesoftware's entire database, evenwhen only a few messageswere added. With Outlook,Time Machine will be able todo incremental backups.
Microsoft launches
Office 2011 for Mac
Computer graphicsmaker Nvidia onFriday unveiled 3DTV
Play software, which will letusers connect 3D notebooksand desktops running its 3DVision technology to 3Dhigh-definition TVs for a"big-screen entertainmentexperience," the companysaid.
ny compatible NvidiaGeForce graphics processingunit (GPU)-powered systemrunning the 3DTV Play soft-ware can be connected to anHDMI 1.4 3D HD TV, thecompany said, letting usersview 3D photos and videoson a larger screen. They willalso be able to play some 500games in 3D -- more than anyother platform -- according toNvidia. When the compatible
video playback software isemployed, users can alsowatch Blu-ray 3D movies infull 1080 stereoscopic 3D,
along withHD digitalsurround sound with anHDMI connection to a com-patible audio/video receiver.Game titles include StarCraftII: Wings of Liberty, Mafia II,and Call of Duty: Black Ops.
A new line of Dell XPS lap-
tops rolled out Friday comebundled with the Nvidia3DTV Play software, Nvidiasaid. The 14-, 15- and 17-
inch multimedia lap-tops also come withNvidia's GeForce400M GPUs andOptimus technology.
With the addition ofNvidia's 3DTV Playsoftware in the Dell
XPS lap-tops, "wecan bringt h e
thr i l l ing3D experi-ence to an entirely new mar-ket by enabling consumers toenjoy life-like, 3D entertain-ment in the comfort of their
living rooms," Sam Burd,vice president, DellConsumer & SMB ProductGroup, said in a statement.
Users of 3D Vision PCs canupgrade to Nvidia 3DTVPlay software for free,through the latest Release260 GeForce drivers fordesktop GPUs, and VerdeNotebook drivers for note-book GPUs. In addition toselect Dell XPS notebooks,the software is available onASRock and Zotac home the-ater PCs. The software willalso be bundled on upcomingcomputers, Nvidia said.
In November, the Nvidia3DTV Play software will goon sale on Nvidia.com as anupgrade for PCs that have anNvidia GeForce GPU andMicrosoft Windows 7.
Nvidia unveils 3Dsoftware for HDTV
RIM co-CEO Mike Lazaridis and Adobe CTOKevin Lynch shared the stage on Monday atAdobeMAX and talked about Adobe's AIR
platform and the BlackBerry PlayBook. ThePlayBook, which is rooted in QNX, has a user inter-face that is derived entirely from AIR.
During the on-stage demo, Lazaridis shows off themultitasking powers of the PlayBook, as well as selectapplications, such as the media player and video play-er. Based on the video from the event, RIM imagine'smultitasking similar to the way Palm does, and assigns"cards" to each running application. Users can thenswipe through the cards to access different applica-tions, leaving the others running in the background.
Lazaridis also showed off the PlayBook's browser,which of course has Adobe's Flash Player Mobile 10.1baked in. He navigated to the full HTML version ofYouTube and was able to play back a promotional
video with no problems, and without loading a sepa-rate media player to handle the Flash content.
It looks pretty slick, in all. The user interface was fluidand smooth, and takes obvious cues from today's besttouch-based platforms. It's one thing to make a demo lookgood, it's altogether different to bring a working productto market.
RIM took the opportunity at the same event tolaunch the BlackBerry Tablet OS SDK for Adobe AIR.RIM says of the new developer tools, "This SDKenables developers to quickly and easily create AIRapplications for the BlackBerry PlayBook tablet usingAdobe's powerful, familiar and industry-leadingdevelopment tools. Adobe AIR developers can startbuilding their applications today for BlackBerryPlayBook and will be able to start submitting theirAIR applications for BlackBerry PlayBook toBlackBerry App World by end of this year."
RIM Demos PlayBook Tablet
Microsoft chief execu-tive Steve Ballmersays that despite the
hefty lead of rivals, the com-pany is entering the smart-phone market early withWindows Phone 7 and is fullycommitted to making theoperating system successful.
Ballmer told attendees atMicrosoft's ProfessionalDevelopers ConferenceThursday that the smartphonemarket is still young, andthere's plenty of time fordevices running Microsoft'snew mobile OS to grab mar-ket share. "Yeah, we're early.There's no question we'reearly," Ballmer said duringhis keynote.
Some analysts do not shareBallmer's optimism.Researcher Gartnerpredictedthis month that WindowsPhone 7 would barely movethe needle on Microsoft's dis-mal share in the smartphoneOS market.
Windows Phone 7, which isavailable in phones in Europenow and in the U.S. nextmonth, is expected to bumpthe company's worldwidemarket share from 4.7% in2010 to 5.2% next year.
However, Microsoft's sharewill ultimately decline to just3.9% by 2014, Gartner says.Those numbers meanMicrosoft will be far behindthe other major mobile OSdevelopers. Symbian is
expected to continue leadingthe market in 2014, with a30.2% stake, just barely aheadof Google's Android. Gartnersees Android's share balloon-
ing to 29.6% from 17.7% in2010 and just 3.9% in 2009.Nevertheless, Microsoft isgoing to put "muscle" behindWP7 in terms of marketingand sales, Ballmer said.
"Make no mistake about it,when it comes to WindowsPhone, we're all in," he saidabout the company. "I've got-ten asked various questions:What we will do with this orthat, blah, blah, blah, blah,blah. Boom, baby! That'swhat we're going to do, con-tinue to work, continue todrive, continue to improve."
Microsoft, which has bil-lions of dollars in cashreserves, has fought its way toa leadership role before inmarkets where it entered as anunderdog. However, despitebeing in the mobile phonemarket for years, it has failedto make a dent, unlikeGoogle, which has seenAndroid grow dramatically injust three years. Microsoft'smost recent failure was theKin, an advanced mobilephone meant to attract ayounger, social networking-oriented audience. Microsoftstopped work on the deviceafter just six weeks.
Windows phone 7'Early' to smartphonemarket, says Ballme
Motorolarides
Android toprofitability
Riding the success of sev-eral Android handsets,Motorola's cell phone
unit reported its first profit inthree years as the companydressed up its financials inpreparation for splitting thecompany in two early next year.
The third-quarter report,announced Thursday, also fea-tured a 6% sales increase to$5.8 billion for the entire com-pany. Already scheduled to shedits mobile network infrastruc-ture to Nokia SiemensNetworks for $1.2 billion,Motorola has committed to nextyear's breakup because its dom-inant investors believe the partsof the company broken up willbe worth more than the whole.
The best -- and most surpris-ing -- news in the report wasthat the phone unit shippedmore than 9 million devices.The company said it has intro-duced 22 smartphones this yearand 3.8 million of them wereshipped in the last quarter.
"In the third quarter, MotorolaMobility showed positivemomentum across the business,with Mobile Devices reachingprofitability for the first time inover three years and [the Homeoperation] continues to maintainits leadership position," saidSanjay Jha, Motorola co-CEOand Motorola Mobility CEO.
Sunday, October 31, 2010 7
LONDON: The only com-pany licensed to sell ananaesthetic used in a USexecution denied exportingthe drug, after officials inthe United States said itcame from Britain.
Arizona executed JeffreyLandrigan for a 1989 mur-der late Tuesday despite aa US shortage of the anaes-thetic normally used, sodi-um thiopental, one of threecomponents of the lethalinjection.
The US state said it hadto obtain sodium thiopen-tal from a foreign sourceafter this was cleared foruse in the execution by theUS Supreme Court.
After the execution, theArizona attorney gener-al's office said the drugused came from a British
manufacturer but wouldnot name the firm.
"There is one currentlicence for sodiumthiopental and that is forArchimedes Pharma UK,"a spokesman for Britain'sMedicines and Healthcareproducts RegulatoryAgency told on Thursday.
But in a statement,Archimedes said:"Consistent with applica-ble regulations, the compa-ny does not have informa-tion on specific end pur-chasers or users of itsproducts.
"The company neitherexports the product to theUS for any purpose nor isit aware of any exports ofthe product."
Archimedes describesitself as "an international
specialty pharmaceuticalcompany focused on theoncology, pain, neurology,and critical care sectors."
It sells sodium thiopentalin a powder solution whichmust be dissolved in waterbefore being injected. It isused as an anaesthetic, orto control fits.
A spokeswoman for theEuropean Union, whichprohibits the trade in goodsused for capital punish-ment, torture and ill-treat-ment, said Thursday thatthe drug was not listed asbeing prohibited.
"Instead it is on a list ofessential drugs of theWorld Health Organisationused widely, for anesthe-sia, induced comas andpsychiatry," said MajaKocijancik. -Agencies
Firm denies exportingexecution drug to US
TEL AVIV: TevaPharmaceutical Industriesagreed to buy Merck KGaA'swomen's health unitTheramex for 265 millioneuros ($367.8 million), theIsrael-based company's sec-ond acquisition in Europethis year.
The deal follows its pur-chase of generic drugmakerRatiopharm for 3.7 billioneuros to improve its presencein Germany.
The Merck Serono division
will be eligible to receivecertain performance-basedmilestone payments.
Teva, the world's biggestmaker of generic drugs, willfund the acquisition from itsinternal resources. The dealis subject to regulatoryapproval and is expected toclose toward the end of thisyear or in early 2011.
Teva President and ChiefExecutive Shlomo Yanai saidTheramex's product portfo-lio, sales force and promising
pipeline will be combinedwith the research and devel-opment capabilities andproduct portfolio of Teva'sU.S. women's health busi-ness.
"Together the global teamwill accelerate the expansionof our women's health fran-chise into key growth mar-kets in Europe and around theworld and provide an excel-lent springboard for futuresales," he said in a statement.-Reuters
Teva to buy KGaA'swomen's health unit
FDA deniesViroPharma's
highergenetic-drugproduction
WASHINGTON: ViroPharmaInc, a specialty pharmaceuticalcompany, said US health regu-lators declined to approveindustrial-scale manufacturingof its genetic disorder drugCinryze, sending its sharesdown 17 per cent.
In a complete response letterto ViroPharma, the US Foodand Drug Administration(FDA) sought additional infor-mation related to observationsfrom the pre-approval inspec-tion and review of the technicalprocesses, the company said.
ViroPharma said it willrespond to the FDA and plansto start manufacturing industri-al scale lots at risk in the firstquarter of 2011.
The company however,expects its currently approvedmanufacturing process alone toyield up to 60,000 doses annu-ally.
Cinryze is the company'sapproved treatment for a fatalgenetic disorder called heredi-tary angioedema and is expect-ed to generate full-year revenueof $165-$175 million.
In June, ViroPharmaapproached the FDA, seekingapproval to commercializeCinryze manufactured usingthe industrial scale process.
The company's shares, whichhad plunged 18 percent since itexpressed doubts over thedrug's production capability inOctober last year, fell to $13.51pre-market trade on Friday. -Reuters
Daiichi Sankyo H1 profitleaps, led by Ranbaxy
TOKYO: Daiichi Sankyo, Japan's No 3 drugmaker, said its April-September recurring profit rose77.3 percent and lifted its annual outlook, as its Indian arm Ranbaxy Laboratories swang to a solidprofit.
Daiichi, which bought a majority stake in the generic drug maker in 2008 and launched a new flag-ship drug, blood-thinner Effient, last year, said its recurring profit totalled 92.7 billion yen ($1.1 bil-lion) in the first fiscal half.
For the year to March 2011, Daiichi raised its recurring profit forecast to 100 billion yen from 85billion yen, still short of the consensus of a 118.6 billion yen profit in a poll of 16 analysts byThomson Reuters I/B/E/S.
Makers of branded drugs, including Takeda Pharmaceutical and Astellas Pharma as well as glob-al rivals, are struggling to develop strong successors to their mainstay drugs which have lost or aresoon set to lose patent protection.
Daiichi's new flagship drug Effient has so far seen slow sales due to concerns about bleedingrisks, yet the product and Ranbaxy have helped to make Daiichi better positioned than its peers,analysts say.
Ranbaxy has reported a net profit of 9.6 billion rupees ($216 million) for January-March, the firstquarter of its financial year, compared with a net loss of 7.7 billion rupees in the year-ago quarter.Daiichi's results reflect Ranbaxy's with a one-quarter time lag. -Reuters
BAGHDAD: Pharmaceutical drugs are displayed at the Iraqi Ministry of Industry
exhibition of local products in Baghdad. Reuters
MUMBAI: GlaxoSmithKlinePharmaceuticals expectsreviving vaccines sales todrive growth at 14-15 percentannually in India, a top offi-cial said.
"For last few years, we werelagging the market growthrate... in this year, we seesales growth at 14-15 per-cent," Mehernosh Kapadia,senior executive director, toldReuters in a telephone inter-view.
"Vaccines have contributed9-10 percent to our sales inthe current year and this willgrow to 15 over the next twoto three years," he said.
The firm, a unit of theworld's second-largest drug-maker GlaxoSmithKline Plc,had said in July that sales ofvaccines in India had beenadversely affected by certainsupply constraints.
"The issues regarding sup-ply of vaccines have been
resolved and the segment con-tributed about 34 percent oftotal sales in the quarter," headded. Apart from vaccines,the drugmaker is also sourc-ing more and more patentedproducts from its parent com-pany to India in segments likeoncology, asthma and derma-tology to push India sales, headded. The firm, in July-September, received approvalfor two key oncology drugs -Revolade and Votrient.
GSK Pharma sees vaccinesboosting India rev
TOKYO: Japan's TakedaPharmaceutical said that first-half profit fell 12 per cent as akey drug lost patent protec-tion but it lifted its full-yearearnings outlook as a strongyen helped cut overseas costs.
The first-half performancecontrasted with rival DaiichiSankyo which booked a bigjump in earnings and raisedits outlook on a strong turn-around at its Indian genericdrug subsidiary RanbaxyLaboratories and on costcuts.
Takeda, Japan's No.1 drug-maker, said April-Septemberrecurring profit fell to 225.5billion yen ($2.8 billion) afterits ulcer treatment Prevacidlost its U.S. patent protectionlast November.
But it nudged its annual prof-it outlook 6 percent higher to360 billion yen, above a con-sensus of 352 billion yen in apoll of 16 analysts by ThomsonReuters I/B/E/S, although thatwould still be 16.7 percentbelow year-ago levels.
"The stronger-than-expect-ed yen has prompted us torevise our estimates forresearch and developmentcosts and sales and adminis-tration costs by 10 billion yeneach," Takeda senior vicepresident Hiroshi Takahara
told a news conference.Takeda will also see the
U.S. patent on its biggest sell-er, the diabetes drug Actos,expires this January andTakeda's President YasuchikaHasegawa said in May that aturnaround for the company'searnings would not comebefore March 2013.
Daiichi booked a 77 percentjump in first-half recurringprofit. Its new flagship drugEffient, a blood-thinner, hasso far seen slow sales due toconcerns about bleedingrisks, yet the product andRanbaxy have helped to makeDaiichi better positioned thanits peers, analysts said.
It boosted its annual profitprojection to 100 billion yenfrom 85 billion yen,although that was still shortof the consensus of 118.6billion yen profit in a poll of16 analysts by ThomsonReuters.
An upward revision hadbeen expected after the com-pany said earlier in the year itmight revise its outlook high-er but decided not to do so asexpected in August.
"The new forecast is con-servative. But, this company'sforecasts have not been muchof a guide, so it's not a sur-prise," said Credit Suisse ana-
lyst Fumiyoshi Sakai who hasforecast Daiichi's annualrecurring profit at 115 billionyen.
"There will be anotherreview of the annual forecastsanyway, as prospects forRanbaxy's generic version of(the Alzheimer's drug)Aricept will become clear inNovember," Sakai said, pre-dicting Daiichi shares wouldremain range-bound in thenear term.
Eisai's Aricept will loseexclusivity in the UnitedStates later this year.Ranbaxy is planning tolaunch a generic version but ithas yet to be approved andU.S. regulators have bannedRanbaxy's exports from twoplants in India, accusing theplants of falsifying data.
Shares of Daiichi Sankyoclosed up 0.9 percent at 1,705yen, outperforming thebroader sector which edgedup 0.1 percent. Takedaannounced after the close oftrade.
Based on the companies'projections for the year toMarch, Daiichi is expected toreplace Astellas Pharma asJapan's No.2 drugmaker interms of annual revenues.Astellas will report results onMonday. -Reuters
Takeda, Daiichi Sankyolift earnings outlooks The Chairman Implementation Commission on 18th
Amendment briefed the Prime Minister about ongoing process ofdevolution and upcoming meetings of ImplementationCommission and provincial governments next week.
Mian Raza Rabbani apprised the Prime Minister that theParliamentary Committee on constitutional reforms will be meet-ing on 1st November in the light of the Supreme Court decision.
Prime Minister was briefed that the Commission after taking theFederal Ministries into confidence will coordinate with theprovincial governments to ensure the process of devolution insmooth way.
Continued from page 1No #1
the nation", he remarked. Government was endeavoring toextend financial assistance to the poor people under BenazirIncome Support Program.
In pursuance of this scheme the fee of children will be remittedconcession will be given in electricity and gas bills and facility oflife insurance will be provided, he announced.
Prime minister said over 20 million people had been renderedhomeless due to disastrous floods. Government had accepted theresponsibility of providing them homes, he added. "We will com-plete the process of rehabilitation and reconstruction. Free of costelectricity and fertilizer will be provided to poor farmers in theflood affected areas", he held.
Continued from page 1No #2
packages were negotiated, the US also promised to reimburse$750 million of arrears from the Coalition Support Fund. ButPakistani officials, who participated in the dialogue, said that "thetalks' real achievement" was "a better understanding of Pakistan'sposition on North Waziristan".
The Pakistanis informed their American counterparts that theyalready had 39,000 troops in North Waziristan, more than thosedeployed in South Waziristan.
Pakistan also assured the Americans that it's willing to continueand even expedite 'surgical operations' against the militants inNorth Waziristan but was not in a position to launch a full-fledgedmilitary operations.
Continued from page 1No #3
He said that he appeals to media and public that if they have anyinformation on any anti state element than they should inform thepolice and law enforcing agencies.
He said security is on high alert at airport and security measureswould be further tightened.
Responding to a question regarding US AmbassadorCameron Munter's recent defence of drone attacks, Malik saidthe strikes violated Pakistan's sovereignty and security andthat the government was involved in negotiations with the USon the issue. -Agencies
Continued from page 1No #4
has become inevitable, He said even clashes exists within PPP ,the real PPP leaders who had sacrificed are sidelined and thosewho were never part of PPP are close aides of Zardari. He saidPPP's loyal leaders were being put to the walls.
He said government's clash with judiciary would prove to becostly as we would stand by judiciary for the supremacy of judi-ciary. He said the government is establishing new record of cor-ruption and is least bit bothered about the problems being facedby the public. He said that the poverty stricken people are contin-uously being bombarded by inflating gas and electricity prices.
He said in the tenure of previous regime the petrol prices wereraised by 35 per cent but now in the tenure of this govt the PoLprices have risen by 94 per cent,. Ch Nisar said this govt is takingforward the agenda of IMF and other monetary agencies and notpublic agenda. He said his party would oppose the imposition ofthe flood tax in the coming assembly session.
Nisar said the PML-N was the only party which was criticisingdrone attacks inside and outside the parliament. He said innocentpeople were being killed in drone attacks and that the attacks werea threat to the country's security and sovereignty.-APP
Continued from page 8No #5
Pervez Ashraf while answering to a question said that PPP gov-ernment is a people friendly government that comes into power by
Continued from page 8No #6
focus of the countries' action plan through 2015.Association of Southeast Asian Nations (ASEAN) secretary
general Surin Pitsuwan told reporters at the 10-member bloc'ssummit in Hanoi that leaders agreed on the need for clean energyprojects in the region.
"Without energy we could not drive our economy, but at thesame time using traditional energy may impact upon our globalenvironment," he said, adding that member countries are workingon "green energy, clean energy, new, alternative energy that wouldnot have any impact on the environment".-APP
Continued from page 8No #7
Punjab Rangers DG Major General Muhammad Yaqoob andDirector General BSF Raman Shrivastav made the announcementat the Rangers Headquarters in Lahore on Saturday.
Both border forces' heads also decided to exchange prisonerinformation and take steps for their release.
DG BSF said that he came to Pakistan with a motive of friend-ship and has received positive feedback from the Pakistani side.
The Indian military had earlier accused Pakistan of a "majorceasefire violation, alleging that Pakistani troops opened fireacross the de facto border dividing Kashmir killing one Indiansoldier.
While Pakistan had responded by blaming India for startingunprovoked border firing fueling tensions between the bordersecurity forces of both countries.-Agencies
Continued from page 8No #8
smuggled into Pakistan in huge quantities and it needs to bechecked," he said.
"We have proposed that firing would only be opened by theforces on either side in their own territory instead of attacking theborder posts or villagers across the border," he informed.
Shrivastava said that fishermen, crossing the sea borders, weretaken into custody by different security agencies on differentoccasions.
"Once they are arrested, the process of law has to take itscourse," he said, adding that "mostly they don't have any docu-mentation to authenticate their whereabouts".
Both India and Pakistan have regularly been exchanging allega-tions of "cross-border firing without any provocation". The bordersecurity forces on both sides hold these meetings every quarter todiscuss issues of conflict and try to devise a mechanism to resolvethem.
Regarding the tension between both countries on the borders,the BSF official said that "the situation at ground level was muchbetter than what it was two years ago".
"The situation was better last year, it has improved this year andwe are confident that it will improve further in future," he saidreferring to the bitter bilateral relations after the 26/11 Mumbaiterrorist attack in 2008.
"We will also share lists of foreign prisoners in Indian andPakistani jails to provide relief to them through the relevant for-eign ministries," Maj Gen Khan said with reference to Indian fish-ermen. More than 100 Indian fishermen were released fromKarachi jail last month following the intervention of the Indo-PakFisher Folk Forum.
"We only have to rely on their names most of the times and eventhis does not match with the official records provided by therespective government later on," he added.-Online
Continued from page 8No #9
The US has appealed for the two countries to resolve thematter peacefully but has made clear it sides with Japan in thecurrent imbroglio. After meeting with Japan's foreign minis-ter in Hawaii on Wednesday, Clinton said the islands are cov-ered by a US-Japan mutual security pact, althoughWashington takes no position on their ultimate sovereignty.
That infuriated Beijing, which on Friday said it was"strongly dissatisfied" with her comments and lashed out atboth the US and Japan. Southeast Asian countries have
Continued from page 8No #10
people's vote and rental power houses case is in SC and govern-ment will defend its stance on rental power houses.
He further said that large power-ship will arrive at Karachi sea-port next month that would help in reducing load shedding in thecity. -Agencies
become increasingly rattled in recent months following a number of aggressive maritimemoves by the Communist giant.
Clinton's message, while couched in diplomatic niceties, was clear: China must not use itsgrowing economic and military strength to bully its neighbors. Previous similar remarks fromClinton and other US officials have drawn tough criticism from the Chinese, who claim sov-ereignty over vast swaths of territory in the East and South China seas.-Reuters
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LAHORE: DG Pakistan Rangers (Punjab) Maj Gen Muhammad Yaqub Khan and Director General, BSF India Shri Raman Srivastav briefs
to the media persons after five-day bi-annual meeting between Pakistan Rangers and India.-APP
LAHORE: The directors gen-eral of Pakistani Rangers andIndian Border Security Force(BSF) Saturday agree to tonedown border rhetoric includingthe aggressive ceremony atWagah border.
This was agreed during themeeting between the two-dele-gation here.
They also came to a mutualagreement of minimum deten-tion and paperwork for releaseof held fishermen and to urge
their respective government toact so.
BSF Director General Raman
Shrivastava, heading a 19-member delegation, was inLahore for a strategic meeting
to discuss issues pertaining toborder security between thetwo neighbours. Major GeneralYaqub Ali Khan, director gen-eral of Pakistan Rangers(Punjab) headed the host dele-gation.
Maj Gen Khan said that"smugglers had contacts oneither side of the border andboth agencies are trying to finda joint mechanism to get rid ofit". "Indian liquor is being
See # 9 Page 7
Pak, India ready totone down rhetoric
Pak Rangers, Indian Border Security Force hold meeting; moot issues
KABUL: Insurgents armed with rifles,rocket-propelled grenades and mortarstried to storm a combat outpost in east-ern Afghanistan on Saturday, setting offa battle that killed 30 attackers andwounded five coalition soldiers, NATOsaid.
Assailants struck from all sides in thenighttime attack on the outpost inPaktika province's Bermal district,where nearly all NATO forces are fromthe US military.
The military called in close air-sup-port and aircraft dropped three bombsto help repel the insurgents.
According to NATO, the five coali-tion service members who were wound-ed in the attack continued fighting.
"Insurgents attacked from all direc-tions," NATO said in a statement. Itprovided no further details.
The attack took place in an area about125 miles (200 kilometers) south ofKabul that borders the Pakistani regionof North Waziristan.
The border region has long been a
refuge for Islamist extremists fromaround the world and has been the tar-get of numerous drone strikes againstthe Taliban, al Qaeda and the forces ofthe Haqqani network. Jalaluddin andSirajuddin Haqqani, a former anti-Soviet commander and his son, are nowbattling American forces in easternAfghanistan.
Meanwhile, France's defense ministersays that Nato countries could begin towithdraw some of their forces fromAfghanistan at the start of next year assecurity responsibilities for some dis-tricts are handed over to Afghan forces.
Herve Morin said in an interview onFrance's RTL radio network that "in2011 we're going to transfer a wholeseries of districts to the Afghans" and"at that moment, there could be the firstmovements, or first withdrawals ofAllied forces from Afghanistan."
He added that this is also "the calen-dar set by Barack Obama, that in 2011the first American troops could quitAfghanistan." -Agencies
Nato claims to kill30 Taliban fighters
French troops to leave Afghanistan in 2011
WAH CANTT: Leader of theOpposition in the NationalAssembly Chaudhry Nisar AliKhan on Saturday said that amajor change on the politicalarena was expected during thenext few months.
He, however, clarified thatthe Pakistan Muslim League-Nwould support change onlythrough democratic means.
Speaking to media represen-tatives, Nisar said due to thepresent government's ineptpolicies, its close allies at thenational as well as the interna-tional level were not happy.
He said the PML-N wouldnot join the United MuslimLeague initiated by Pir Pagara.
Responding to a question, hesaid that his party gave noimportance to the meeting
between Chaudhry PervaizElahi and Law Minister BabarAwan. He further said that hesaw no threat to the Punjabgovernment.
Nisar further said that hisparty wished that the presentPakistan People's Party-ledgovernment complete its tenurebut it seems that the PPP wouldbury with its blunders and fail-ures.
Earlier Ch Nisar also said thatPresident Asif Ali Zardari is notallowing Prime MinisterYousaf Raza Gilani to imple-ment Mian Nawaz Sharif'sgood governance suggestiondue to which PPP is breathingits last.
He said that due to incompe-tence of the government change
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Political changeon cards: Nisar
Zardari hurdle in good governance
MARDAN: Federal ministerfor water and power, RajaPervez Ashraf has said thatgovernment is taking all possi-ble measures in order to endelectricity load shedding aswell as to provide cheap elec-tricity to the consumers bybuilding new dams and utiliz-ing other natural resources.
Ashraf while talking tomedia after paying condolenceto PML (N) central vice presi-dent of Khyber Pakhtunkhwa,Sir Anjam Khan on the death
of his son said that govern-ment is giving Rs two billionsubsidy to electricity con-sumers, government onlyincrease the electricity tariffwhen oil prices go up in theinternational market.
Minister said that govern-ment will build dams only aftertaking all the stake holders onboard and no controversial damwill be built in the country as itis against the government's rec-onciliation policy.
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Steps to endpower crisistaken: Ashraf
HANOI: US Secretary of State HillaryClinton waded into a fresh spat betweenChina and Japan on Saturday, sayingthe United States has a key stake in ter-ritorial disputes between Beijing and itsneighbors and will remain a majorpower in the Asia-Pacific region.
Speaking to East Asian leaders inVietnam, Clinton declared that Americahas a direct national security interest inseeing peaceful resolutions to compet-ing claims over islands that have led toa spike in animosity between China andother countries in the region, notablyUS ally Japan.
"The United States has a nationalinterest in the freedom of navigationand unimpeded lawful commerce,"Clinton told a meeting of the East AsiaSummit in Hanoi. "And when disputesarise over maritime territory, we arecommitted to resolving them peacefullybased on customary international law."
Her comments come as China andJapan's damaged relations took a freshhit, dimming hopes for talks betweenthe two regional powers and highlight-ing tensions that have rattled nervesacross the Asia-Pacific.
Sino-Japanese relations appeared to
be mending when Chinese ForeignMinister Yang Jiechi and his Japanesecounterpart Seiji Maehara met on thesidelines of the summit on Friday,paving the way for expected talksbetween the countries' two leaders.
But at the last minute, China calledoff the meeting and blasted Japan,accusing it of making untrue statementsabout islands in the East China Sea,claimed by both nations.
The territory is at the heart of the dis-pute, following a collision there lastmonth between a Chinese fishingtrawler and two Japanese patrol boats.
Chinese Assistant Foreign MinisterHu Zhengyue told reporters in Hanoithat Japan was turning the contestedislands - called Diaoyu in China andSenkaku in Japan - into a "hot topic" onthe sidelines of the summit hosted bythe 10-member Association of SoutheastAsian Nations, or ASEAN, by talking tothe media and holding discussions withother countries prior to the meeting.
"The Japanese side should takeresponsibility for ruining the atmos-phere for leaders of the two countries,"he said.
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US has stake in Asiasecurity, says Clinton
RCG, anautonomousbody: FBR
ISLAMABAD: FederalBoard of Revenue (FBR),while clarifying a news item,informed that Tax ReformCoordination Group (RCG)works totally independentlyand has been provided noguidelines in terms of itsscope by the Government ofPakistan.
In an official statement,the FBR spokesperson clari-fied a news report captioned'Tax panel asked not to ven-ture into agriculture' pub-lished in a section of thepress regarding the TaxReform Coordination Group(RCG) constituted byFinance Minister Dr AbdulHafeez Sheikh.
The spokesman furthersaid that the sub-groups ofthe RCG presented their ini-tial proposals in a meetingheld on 17th October in theMinistry of Finance.Deliberations on these pro-posals were held and arecontinuing.
Further discussions will beheld with other major stake-holders before these propos-als are finalized and present-ed to the government.-NNI
Russiaeyes Asiafor more
N-venturesHANOI: Asian nations arelooking forward to attainnuclear power deals withRussia, said Russian ForeignMinister Sergei Lavrov, follow-ing a race by world powers tosecure projects in the 'energy-hungry' region.
"Our partners expressed par-ticular interest in nuclear ener-gy, noting Russia's vast experi-ence in this sphere," Lavrovsaid in Hanoi, where PresidentDmitry Medvedev attended aregional summit.
During Medvedev's visit toVietnam, Russia will also signa multi-billion-euro deal onSunday to build Vietnam's firstnuclear power plant.
An official with Russian statenuclear conglomerate Rosatomtold foreign media the con-struction of the two-unit plantis estimated at over 4.0 billioneuros (5.5 billion dollars).
Russia is locked in a globalrace with competitors like theUnited States, Japan andFrance to clinch lucrativeworldwide contracts as demandfor nuclear energy increases.
Vietnam has approved theconstruction of the country'sfirst nuclear power stations,and its initial plans call for fourreactors with a total capacity of4,000 megawatts, at least oneof which should be operationalfrom 2020.
Lavrov added that Russia andits ASEAN partners were inter-ested in pursuing joint projectsin geothermal energy in theregion.
"The prospects are quitegood," he said, adding thepotential projects would be the
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Rangers, BSF nod to end
belligerent show at WagahLAHORE: Pakistan Rangers Punjab has decided to end displayof their belligerent approach during the flag half-mast ceremo-ny at Wagah Border, responding to a request made by IndianBorder Security Force (BSF).
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Chineseenvoy meets
WyneRAWALPINDI: Liu Jain,Ambassador of China calledon General Khalid ShamimWyne, Chairman Joint Chiefof Army Staff Committee(CJCSC) at Joint StaffHeadquarters, Chaklala onFriday.
Liu Jain congratulatedGeneral Wyne on assump-tion of his appointment asCJCSC and discussed mat-ters related to progress inbilateral relations, ongoingdefence collaboration andrecent regional and interna-tional security develop-ments.-NNI
