Moderate or Extreme Muslim

"I once said being a Muslim is a bit like being pregnant. You are or you are not. Whoever heard of anyone being moderately or extremely pregnant?"

British journalist Yvonne Ridley, who converted to Islam after being captured by the Taliban, tells Asma Hanif that oppression of Muslim women has to do with traditions rather than with Islam and explains why she became a Muslim.


Read her interview here

Azan New Way

Now, may be i m ignorant about prayer ways but i have never seen more that ONE person saying AZAN. This was done outside PUNJAB ASSEMBLY Yesterday

Truth behind Afghanistan & Iraq Invasion - Firms ready

Before i start with my blog post regarding the truths and lies, i will love to hear from you in the end that where do you see PAKISTAN IS STANDING in this picture?.

Eric Margolis in his recent blog post has opened up the box and let the world know that what is happening in the middle. As he writes,

After a sea of lies and a tsunami of propaganda, the ugly truth behind the
Iraq and Afghanistan wars finally emerged into full view this week. Four major western oil companies, Exxon, Mobil, Shell, BP and Total, are about to
sign US-brokered no-bid contracts with the US-installed Baghdad regime to
begin exploiting Iraq’s oil fields. Saddam Hussein had kicked these firms
out three decades ago when he nationalized Iraq’s foreign-owned oil industry
for the benefit of Iraq’s national development. The Baghdad regime is
turning back the clock.

Now this is not yet another personal statement. He has his backgrounds covered. Look now what Washington Post is saying.

The two-year, no-bid contracts will be awarded to companies that have been
advising the Iraqi Oil Ministry in recent years, said Asim Jihad, a spokesman
for the ministry. He said officials expect that U.S.-based Exxon Mobil and
Chevron, Royal Dutch Shell, France's Total and British oil company BP will
secure the biggest contracts.

Meanwhile, Eric comes up with something that is going to attract us now. He is what he stated later,

Meanwhile, according to Pakistani and Indian sources, Afghanistan just signed a
major deal to launch a long-planned, 1680 km long pipeline project expected to
cost $ 8 billion. If completed, the Turkmenistan-Afghanistan-Pakistan-India
pipeline (TAPI) will export gas and, later, oil from the Caspian Basin to
Pakistan’s coast where tankers will transport it to the west.

Confirming his statement, here is what WIKIPEDIA mentions

The 1,680 kilometres (1,040 mi) pipeline will run from the
Dauletabad gas field to Afghanistan. From there TAPI will be constructed
alongside the highway running from Herat to Kandahar, and then via Quetta and
Multan in Pakistan. The final destination of the pipeline will be the Indian
town of Fazilka, near the border between Pakistan and India.

I leave it to you...where do you now see Pakistan?


Meanwhile, Original Posts are worth reading too.

ERIC MARGOLIS


WASHINGTON POST


WIKIPEDIA on TAPI

Bill Gates Final Week in Microsoft - Good Bye THE BILL GATES

In some respects, this week won't be terribly different for Bill Gates than the previous 1,712 weeks he has spent working full-time at Microsoft, the company he co-founded as a teenager. The 52-year-old icon has some one-on-one meetings scheduled with a few of his top technical executives. He has some customer meetings. And, as often happens, he'll go to the television studio on Microsoft's Redmond, Wash., campus to tape a few messages for events he won't be able to attend. In addition, he says, "I hope to write a few memos."

But normalcy will be an illusion. Everybody knows that when the week ends, Bill Gates will walk out of his office for the last time as someone on the clock for Microsoft. (On that final day, the routine will be shredded, and the staff has planned some internal commemorative events.)

Read on at NewsWeek

Maulana Diesel Got Heart-ache

As reported earlier that there is a diesel shortage in country, here comes its after effects. This time Maulana diesel felt the agony but he is back in business after the life saving drugs were reportedly filled with some diesel fuel :D

Nawaz Sharif Disqualified

And this time, the sword falls on Nawaz Sharif. He has been disqualified from election. Now, the champion of judiciary is facing the music of judiciary.

Edhi Beggary Mission for Starving People

Government is launching BENAZIR CARD (Rs.1000/- only) to give relief to common people. They are giving subsidy to Utility stores (and keeping their eyes & ears close) to facilitate us but this person is doing hell of a work. He needs to be applauded for whatever he does.
When government is there to feed the poor, then why is he taking the charge? is this new government within government? do you remember anything by now.. i meant RED MOSQUE.

Justice for Our Justice by Aitzaz Ahsan

In mid-June, a young Pakistani student was called on to accept an achievement award by Anne Patterson, the U.S. ambassador in Islamabad. When Samad Khurram strode onto the stage, however, he announced to Pakistan's gathered elite that he could not, in good conscience, accept an award from a government that's remained silent in the face of President Pervez Musharraf's suppression of Pakistan's judiciary. Bowing his head slightly, Khurram then walked off the dais and sat down.

Read the full article in NEWSWEEK

BlackBerry vs. iPhone

Excellent comparison between various models. Next time you go to buy one, then visit this first.

What is the age of Your Brain? A simple test

Take a very simple three stage test and check out the age of your brain. The age of your brain reflects that are you older that your age or younger , dumb or duffer!!!

I came exactly the same as my age.. Hurray!!! You need not to tell me if you r dumb ;)


Give your own test here

One day = $720 million

How about cost of new GHQ in islamabad?

Hakumat kay Mutabiq by Dr. Shahid Masood

After today's news on different channels, finally i got confirmed that Dr. Shahid Masood is now the new chairman of PTV.

Is this the fondness of PPP , the authority as Chairman or sickness of getting banned everynow and then??

Why there is no diesel? Diesel Crisis

No diesel & No Petrol is making news headings here and there. I had a chat with one fella who is part of this. According to him, OMCs are asking for money release from the government. The amount is now standing at Rs.80 billion now. The OMCs in order to get fuel from refineries got some financing from the banks and that also cost them interests. So, once OMCs been paid by government then they will ask on refineries to release the fuel to the system.

To my question regarding government interference in this matter, he replied back that government got no money to pay us back. Government has been making excuses for payment since one and a half year.

Unless and until government pays the OMCs, i dun see the problem getting rectified that easily.

MY OWN THEORY

There is negative theory circulating in my mind too. Just wanted to share it with you.

OMC people must be reading the news and they must have heard that government is going to take some decision regarding the controversial contract between government and OMCs. So, like stock exchange guys (who chartered the planes & flew to capital) they didn't want their profits to be cut out.. so they are putting pressure on the system and somehow system will bend over in their directions. Powerful lobby, is it??

Now there is Bush Impeachment

Hey Mush, Go to Bush!!!

A directly proportional movement is in the offing. After movement for musharraf impeachment, now there is move for Bush impeachment.

On June 9, 2008, Congressman Dennis Kucinich, who was one of the early hopefuls for the Democratic Party’s nomination for President of the United States in the November 2004 election but later dropped out of the race, gave official notice of his intention to file 35 articles of impeachment against Republican Party President George W. Bush to the US House of Representatives.

On June 10, 2008, as Democratic Congressman Robert Wexler joined Kucinich as co-sponsor of the resolution, Kucinich officially introduced his resolution to the House. The House Clerk took just under four hours to read the resolution into the record. As soon as the House Clerk finished reading the resolution in the early morning of June 11, Kucinich himself moved to refer the resolution to the House Judiciary Committee.

On June 11, 2008, the 435-member House of Representatives voted 251 to 166 (18 members did not vote) to refer the impeachment resolution to the Judiciary Committee.

To impeach the President of the United States, a majority of the House of Representatives must agree to pass a resolution that alleges that the president committed “treason, bribery, or other high crimes or misdemeanours.” This impeachment resolution is also commonly called an “Article of Impeachment.”

Read the full article on THE NEWS

Bloggers Arrest

BBC report earlier mentioned that since 2003, 64 people have been arrested for publishing their views on a blog, says the University of Washington annual report.

In 2007 three times as many people were arrested for blogging about political issues than in 2006, it revealed.

More than half of all the arrests since 2003 have been made in China, Egypt and Iran, said the report.


VIEW COUNTRY WISE ARREST


VIEW DIFFERENT INCIDENTS OF BLOGGERS ARRESTS


WIA REPORT

Balochistan Copper & Gold Reserves - What Media should project

BLESSED with copper and gold deposits, district Chnagi in Balochistan is attracting interests of foreign investors. The Toronto-based Barrick Gold Corp has reportedly agreed to acquire 50 per cent of the Reko Diq copper project controlled by Australian Tethyan Copper Company (TCC) if the Chilean Antofagasta’s bid for TCC is successful. Barrick and Antofagasta have agreed to share equally in TCC’s 75 per cent interest in the Reko Diq project as well as all of its rights, licences and permits held in Pakistan.

If we have such huge reserves of coal,copper & gold .. then why are we acting like slaves to other countries. Why can't we extract them and give our loans back.. give our country some energies in shape of coal extraction.. you need to stand for this and i do ask on media people to give a proper coverage to ti. TV One is already doing it in shaped of BRASSTACKS program from ZAHID HAMID

Different Links :

World's 5th largest gold, copper reserves found in Pakistan

Copper deposits estimated at 2bn tonnes: ACC Chief

Foreign investors eying copper reserves

$101m takeover bid for Tethyan

Zahid Hamid on Gold Reserves Video

World Public Opinion - Pakistan's Pervez Musharraf is rated negatively in more nations

WorldPublicOpinion.org, a collaborative research project involving research centers from around the world, is managed by the Program on International Policy Attitudes (PIPA) at the University of Maryland.





Read the full Public Opinion here

Coalition Pakistan Border Attack Video

The video clearly shows that Coalition UAV is monitoring our borders but Pakistan dont mention it here and there. if foreign drones and UAVs can monitor our border, then MR.REHMAN MALIK whats the use of satellite monitoring of our border? Or did you meant that it will be monitored by foreign satellite for us..If PAKSAT (paksitan satellite) can do the monitoring on this end then who is going to monitor the other end where our GREAT FRIEND is enjoying sunbath... Fishy!!!

US stance of Attack can be found here

PPP in Presidency - Do you smell the rat?

After yesterday's statement of Zardari about PPP person in presidency, my nose was smelling rat. Pakistan's major political parties never opted for presidency in their struggle for power. It was always this Prime Minister seat which bring water in the mouths.

10 years of Musharraf had brought huge power to the seat of Presidency too. Now, Zardari might be thinking that what if I be the president? what if everything passes through me? PPP will be the supreme authority whatsoever!!!

Do you sniff??

Why no harsh word from Pakistan for HAMID KARZAI

After his recent blunt statements towards pakistan, why no pakistani governmental remark is replica of what he is saying.

Just seeing on SAMAA TV tht KArZai is saying that no satisfactory performance from other side of the country.. I m standing on my statements etc.

wt the hell is wrong with this man? he can't handle a single jail in his own courtyard and he is pushing us. after his recent statements, pakistan's own HURCULES (Rehman Malik) has started satellite survellience of the border. wow man, u rock!!!

or may be there is something from what oldies use to say..."JUB EK BANDA KUTTA HOJAI, TAU DOOSRA NAHEEN HOA KARTA"

Look Mr. Tom Dick & Harry, What Colin Powell is saying...

He was a four-star American general, the secretary of state during President George W. Bush's first term and remains a Republican.
But Colin Powell said Thursday in Vancouver that he is considering voting for Democrat Barack Obama in November -- and he took shots at the Bush administration's handling of the Iraq war and the holding of terrorism suspects in Guantanamo Bay, Cuba.

exact replica of what we are seeing in our country. Ex-Generals taking shots on the Mr. Hiding-In-Army-canteen

Read the full interview here

HSBC Staff Party

View Album

Get your own

A looser in Stock Exchange

investor name 谭正标 in China, maybe lost his money and his house and no way out, naked his body in front of China Securities Regulatory Commisson(CSRC) to protest CSRC don’t help the China Stock Market.
This week, Shanghai Composite Index is the large look down of the recently 12 years. so many people lose they win money in bull stock and lose their temper.

courtesy: http://www.ignuts.com/

Happy Father's Day - A Funny Ad

Clarification: Govt. Not to reduce liquidity of banks

After reporting on DAWN yesterday Government finance division has clarified today that it wont reduce the liquidity of banks

see clarification here

English Lectures taught by Bush - II

There has never been an American president who was such a master of the English language and general knowledge as George W. Bush. In this context, consider the following pearls of wisdom that have been uttered by Bush in the seven-and-a-half years that he’s been in office.

“I think war is a dangerous place,” he said.

But does this place called war feature in any atlas? Maybe the White House has had an atlas printed specially for him – one that says on various pages: “Here be war”, rather like those atlases printed in the Middle Ages which contained maps marked with statements like: “Here be dragons.”

“One of the great things about books is sometimes there are some fantastic pictures,” he said.

He may not read the books, just as we have it by his own admission that he doesn’t read newspapers and that Condi sometimes reads them to him. But he is candid enough to admit that he sometimes looks at the pictures in books.

“You teach a child to read, and he or her will be able to pass a literary test,” said Bush.

The question is: has Bush ever passed a literary test? The evidence suggests that he hasn’t. Imagine an illiterate president with his finger on the nuclear button!

“If you don’t stand for anything, you don’t stand for anything,” he said.

We are grateful to Bush for telling us this. If he hadn’t, we might never have known.

“It is clear our nation is reliant on big foreign oil. More and more of our imports come from overseas,” he said.

Could it be that back in the days when Bush began his career in the oil business, America’s oil imports DIDN”T come from overseas? Does Bush know what the word ‘imports’ means?

“There is no such thing as legacies. At least, there is a legacy, but I’ll never see it,” said Bush.

What can one say about this assertion except: “Right on, Dubya”?

And here’s another gem from Bush: “Redefining the role of the United States from enablers to keep the peace to enablers to keep the peace from peacekeepers is going to be an assignment.”

So if you want to know what the US’s role has been under Bush, now you know. Bombing and occupying Afghanistan and Iraq, and killing hundreds of thousands of innocent civilians in the process, is all part of Bush’s plan to keep the peace from peacekeepers.

“We cannot let terrorists and rogue nations hold this nation hostile or hold our allies hostile,” said Bush.

Is that what Pakistan is doing as a US ally? Being held hostile? It obviously hasn’t occurred to Bush that there is a slight difference between the meaning of the word ‘hostile’ and the word ‘hostage’.

“I thing anybody who doesn’t think I’m smart enough to handle the job is underestimating,” said Bush.

The number of people that think he certainly isn’t smart enough must run into the hundreds of millions. It might even run into the billions, as in the world’s whole population. Condi Rice, however, is rumoured to tell Bush at least once a day: “Don’t let anybody tell you you’re not smart enough, Mr President. And the smartest thing you ever did was to hire me as your National Security Adviser and later as your Secretary of State. If you hadn’t done so, who would have read the newspapers to you?”

“If the terriers and bariffs are torn down, this economy will grow,” said Bush.

The problem with this unique prescription, of course, is in finding terriers and bariffs to tear down. Terriers are a breed of dog, but what are bariffs?

“When I was coming up, it was a dangerous world, and you knew exactly who they were. It was us versus them, and it was clear who them was. Today, we are not so sure who the they are, but we know they’re there.”

This is state-of-the-art gobbledygook. Even Dan Quayle, who was vice-president under Bush Senior and was famous for his verbal gaffes, would have a tough time bettering the foregoing formulation.

“One of the common denominators I have found is that expectations rise above that which is expected.”

They certainly do, especially if you’re a master of the English language like George W. Bush.

“There’s no question that the minute I got elected, the storm clouds on the horizon were getting nearly directly overhead.”

But what was the position when Bush was re-elected in November 2004? Where were the storm clouds then? Were they still on the horizon or directly overhead?

And here’s another priceless pearl of wisdom from Bush: “If we don’t succeed, we run the risk of failure.”

No wonder it is said that nothing succeeds like success. By the same token, nothing fails like failure.

“First, we would not accept a treaty that would not have been ratified, nor a treaty that I thought made sense for the country.”

It takes an American president with Bush’s special brand of intelligence to say that he would not accept a treaty that he himself thought made sense for the country.

Referring to the electricity crisis in California a few years ago, Bush said, “The California crunch really is the result of not enough power generating plants and then not enough power to power the power of generating plants.”

After Bush leaves office in January next year, maybe we can hire him as a consultant to WAPDA to solve Pakistan’s power crisis. Clearly, he’s the right man for the job. Even he, however, might have a tough time finding enough power to power the power of generating plants.

“I’m hopeful. I know there is a lot of ambition in Washington, obviously. But I hope the ambitious realise that they are more likely to succeed with success as opposed to failure.”

Ambitious Washingtonians should be grateful to Bush for giving them a valuable lesson in the difference between success and failure.

“This administration is doing everything to end the stalemate in an efficient way. We’re making the right decision to bring the solution to an end.”

The chaos in Iraq is a classic example of this Bush doctrine. The solution there was brought to an end long ago.

“But I also made it clear (to Vladimir Putin) that it’s important to think beyond the old days of when we had the concept that if we blew each other up, the world would be safe.”

One can only hope that Putin got the message.

“I have made good judgments in the past. I have made good judgments in the future,” said Bush.

If Bush has been able to visit the future and make good judgments there, he must have somehow got hold of novelist H. G. Wells’ fictional time machine. “When I have been asked who caused the riots and killings in LA, my answer has been direct & simple: Who is to blame for the riots? The rioters are to blame.

Who is to blame for the killings? The killers are to blame.”

Truer words were never spoken, even though they still didn’t tell us anything we didn’t already know. Yes, of course, the rioters were to blame. But who were the rioters and why were they rioting? And yes, the killers were to blame. But who were the killers and why were they going around killing people? Bush had nothing to say about these questions.

And here’s a lesson in Bush-style geography: “We have a firm commitment to NATO, we are a part of NATO.” So far so good, but then came the truly astonishing statement: “We have a firm commitment to Europe. We are a part of Europe.” In this formulation, Bush had somehow managed to shift the United States 3,000 miles eastward across the Atlantic Ocean and join it to Europe.

“It isn’t pollution that’s harming the environment. It’s the impurities in our air and water that are doing it,” said Bush.

One can imagine environmentalists around the world holding their heads in despair and saying, “The man’s a nut.” And here is Bush on the subject of space exploration: “Mars is essentially in the same orbit Mars is somewhat the same distance from the Sun, which is very important. We have seen pictures where there are canals, we believe, and water. If there is water, that means there is oxygen. If oxygen, that means we can breathe.”

In this view, astronauts landing on Mars should be a piece of cake.

“The Holocaust was an obscene period in our nation’s history. I mean in this century’s history. But we all lived in this century (the twentieth century). I didn’t live in this century,” said Bush.

But if Bush didn’t live in the twentieth century, would he care to tell us just which century he did live in?

“I believe we are on an irreversible trend toward more freedom and democracy – but that could change,” said Bush. An irreversible trend, of course, is one that can’t be reversed. How, then, can an irreversible trend change? Again, now answer to this question was forthcoming from Bush.

“The future will be better tomorrow,” said Bush. For good measure, he added, “I stand by all my misstatements.”

For previous lecture , English lecture taught by Bush



Courtesy: THE NEWS
Kaleem Omar

Five Banks facing Collapse - Be Aware

At least five banks will collapse if the government implements its plan to withdraw deposits and put them in the State Bank of Pakistan in a move to get rid of the huge debt of over half a trillion rupees accumulated only during last fiscal year.

The largest deposit holder of the government and public sector entities is the National Bank of Pakistan. It has a total 42 per cent deposits (Rs250 billion) of both the government and public sector bodies like Water and Power Development Authority and Sui Southern Gas Company, etc.

The fear of near-collapse situation emerged after the reported announcement of the finance minister that the government has planned to shift its deposits from banks to the SBP.

The Bank of Punjab would receive the biggest jolt since it keeps 48 per cent of the government and public sector companies’ deposits. In terms of rupee the BoP has total government deposit of Rs92 billion.

The Habib Bank Limited would also face the worst scenario if the government went ahead with its plan to withdraw its deposits from the banks. The HBL has total government deposits of Rs98 billion, which accounts for 19 per cent of bank’s total deposits.

The United Bank Limited would also be among the banks, which would suffer most. The UBL has total government deposits of Rs78 billion or 19 per cent of its total deposits.

Bank Alfalah is also among the banks, which may suffer if the government finally takes out its deposits as the bank has a total government deposit of Rs69 billion or 25 per cent of its deposits.

A calculation made on the basis of annual report of the State Bank by Saad Bin Ahmed, an analyst at Capital One Equities, reveals that the total deposits of the federal government and its entities were to the tune of Rs763 billion. This amount accounts for 21 per cent of the entire deposits of the banking industry.

In terms of percentage, the third largest loser would be Bank of Khyber in which 37 per cent deposits belonged to the government.

The other major would be affected banks, included Saudi Pak Bank with a loss of government deposits of 21 per cent (Rs9 billion), NIB Bank 21 per cent (Rs25 billion), Askari Commercial Bank 19 per cent (Rs27 billion) and Allied Bank 15 per cent (Rs39 billion).

However, bankers and analysts both were of the firm opinion that the government can not shift deposits as it would hurt the entire economic and business cycle.

But, at the same time, the government is heavily under burden of heavy borrowings for budgetary support from the State Bank. The SBP blames the huge government borrowing for very high inflation.

“The government may get relief if it gets rid-off the SBP loan by shifting of deposits but the level of instability in the banking sector, which will result with the act of deposit withdrawal, would not even be good for the government,” said a senior banker.

The government wants to reduce fiscal deficits, which may be around 9 per cent for current fiscal year, while the finance minister in its budget speech announced to reduce it to 7 per cent. How this fiscal deficit would be reduced was not mentioned.

“There is a possibility that the government partially withdraws its deposits from commercial banks and use them to reduce the fiscal deposits,” said Abid Saleem, an analyst.

Bankers believe that even partial withdrawal from the banks, would put entire banking system in trouble.

The government has already taken several measures, which would cast negative impact on deposits of banks. It would launch 3, 6 and 12-month papers to attract deposits. At the same time, the rate on National Saving Scheme has been increased by 2 per cent. These two steps would encourage deposits to fly from commercial banks to the government papers, which will be more attractive and protected.

Courtesy: THE DAWN

The bluff of KSE-100 - A Karachi Stock Exchange Eye Opener

The dramatic fall of the KSE-100, losing about 3000 points after having crossed the 15,000 mark in March this year, received tremendous media coverage. It was presented as evidence of a deteriorating economy and invited criticism from some media anchors, analysts--and even the President. The fall in KSE-100 and subsequent events raise important issues about public policy and stock market.

In wake of falling stock prices, a delegation of KSE met Asif Zardari on May 29 and the KSE-100 swiftly recovered about 500 points that it had lost on that day. This was followed by another meeting of the KSE delegation with the Finance Minister. The demands of the delegation were acceded to, a press release was issued on the third of June and the KSE-100 jumped by about 600 points or close to 5 per cent in one day.

A delegation of KSE seeking an audience with the government decision-makers in the backdrop of falling prices is a tradition of our stock market. Stock prices continue to fall as if pleading that an audience must be granted to the stock brokers by the government, and when desired concessions are extracted, the prices rise as if saying thank you. Instead of taking a random walk as per financial theory, stock prices jump up and down as an enthusiastic supporter of market participants.

Recent attempts by the State Bank of Pakistan (SBP) to rein in inflation, which are largely consistent with public interest, were received with a sense of panic among market participants. This monetary tightening was long overdue after what we believe was irresponsible monetary policy under Dr Ishrat Hussain to facilitate the then government's growth projections. Still SBP's steps were met with scathing criticism by stock market participants and the policy was condemned by attributing to it a large drop in stock prices.

It is odd that some in the new media refer to the stock market for getting the final verdict on every economic step taken by the government and this trend can be traced to the deliberate policies of the previous government. It was the Shaukat-Salman team of economic managers that persistently used the rising KSE-100 as evidence of its success in delivering economic growth, both in Pakistan and abroad. They conveniently overlooked the limited economic relevance of the market and the various scams that define its history.

That was an opportune time for the economic managers to do such a thing. The stock market was feverishly bullish and there was intense and unprecedented coverage of the stock market by the new electronic channels. So much media hype accompanied KSE-100 that it became the jewel in the crown of Musharraf regime's economic success. The regime was keen to protect its jewel and, when it had to, it went as far as suddenly and illegally removing the vhairman of the SECP in early 2006 to appease allied market participants and pre-empt an independent investigation into the March 2005 crisis.

The Shaukat-Salman team is now out of business but what is most disturbing is that the new government elected by popular vote has also failed to resist the temptation of using KSE-100 as an indicator of Pakistan's economic fortunes. Amidst desperate cries for flour, electricity, and law and order by millions of poor Pakistanis, the PPP-led government chose to give "relief" to the stock market and in dishing out concessions, it has clearly outdone the Shaukat-Salman team.

With a single stroke of pen, it has deferred imposition of capital gains tax by two years, frozen the rate of trading taxes and made room for channelling more public money in the stock market. The government seems to have done this to please the mega rich market lobby, reverse the market decline, and convince the ordinary Pakistani that he has economic hope because while inflation, power supply, and law and order continue to be trouble areas, the KSE-100 is back on track.

We believe that the importance of stock market for Pakistan's economy has been blown out of proportion by vested interests. We offer three simple reasons to prove this point. First, despite all the hype surrounding the stock market, few Pakistanis have invested in it. You can estimate the total number of investors by summing up shareholders in listed companies and unit holders in mutual funds and adjusting for double counting. Even if you include investors with insignificant economic stakes, such as 100 shares bought in public offerings, any estimate--whether conservative or liberal--will not result in a number that exceeds one per ent of Pakistan's adult population. The number of active investors as measured by UIN registrations or number of account holders in the securities depository would not cross 150,000. So even if the KSE-100 goes through the roof, it would not have any impact on the economic fortunes of an average Pakistani, though it may make some billionaires richer. This is unlike the situation in developed countries, such as USA and Australia, where direct or indirect ownership of shares covers one-fifth to half the adult population, as shown in various share ownership surveys.

Second, market's contribution to real economy is minimal. Only 4 new listing took place at KSE in first half of CY2008 and just 14 - including a number of mutual funds that shouldn't have been included in this figure - in the whole of CY2007 compared with 201 at the National Stock Exchange of India. Those already listed at KSE also raised little capital by means of either equity or debt instruments. Despite years of economic growth, the ratio of new listing to total listing for KSE has often been amongst the lowest in the world, as shown by the data on KSE's website and the reports of the World Federation of Exchanges.

Third, stock market is dominated by speculative trading and a recurrence of crises. In turnover velocity, KSE ranks among the top exchanges in the world with just about 30 companies, accounting for as much as 90 per ent of trading. The dominance of speculative activity remains heavily dependent on the notorious 'badla' financing, which is unique to the local market and has contributed to every crisis, be it May 2000, May 2002, March 2005, or June 2006. When speculation grows out of control, rules are changed overnight to prevent broker defaults and to save face. Most recently, in May 2008, after years of "reforms" and pursuit of "international best practises", the KSE's board of directors had to meet in an emergency meeting to change it rules overnight, extending 'badla' financing to speculators who were unable to settle their positions in single stock futures. The ground reality of the once "best performing market" remains rather grim.

In sum, in a market that has so few investors and raises so little capital, how can the speculative antics of a tiny minority in the shares of a few companies mean anything for Pakistan's economy and its 170 million people? An important responsibility rests on the shoulders of mainstream anchors in private media to present stock market performance in the correct economic perspective. It is about time that the bluff of KSE-100 representing the economic fortunes of Pakistan is called for once and for good and the government be forced to focus on meaningful economic indictors such as inflation and unemployment. Public policy ought to be driven by the wider public interest rather than be hijacked by special interest groups.

Dr Adeel Malik is a lecturer in development economics at the University of Oxford, a Rhodes scholar and has worked for Dr Mahbubul Haq's Human Development Centre in Islamabad. Usman Hayat is an independent securities markets consultant and has worked with the SECP. Emails: adeel.malik@qeh.ox.ac.uk,usmanhayat@hotmail.com

Courtesy : THE NEWS

Hamid Mir & Dr. Shahid Masood Yet Again Banned

The International Federation of Journalists (IFJ) is extremely concerned that two popular talk programs transmitted to Pakistan from Dubai-based GEO TV have been taken off air at the request of the Government of United Arab Emirates (UAE).

The IFJ calls on the UAE Government to explain why, and on whose authority, it asked the independent Pakistan television broadcaster to cancel the programs.

The Pakistan Federal Union of Journalists (PFUJ), an affiliate of the IFJ, said the owner of GEO and the Jang group of newspapers, Mir Shakeelur Rehman, confirmed that UAE authorities had asked GEO to discontinue broadcasting Capital Talk, hosted by Islamabad-based Hamid Mir, and Meray Mutabek, hosted by Dubai-based Shahid Masood.

UAE authorities reportedly told GEO management that they did not want anything transmitted from Dubai to disturb UAE’s relationship with friendly countries.

Pakistan’s Information Minister, Sherry Rehman, reportedly said that Pakistan’s new civilian government had not asked UAE to act against GEO.

It is the second time in six months that UAE has blocked GEO programming. On November 17, 2007, the broadcaster’s Dubai office was shut down by a phone call from the UAE Government under pressure from Pakistan, which at that time was under emergency rule imposed by President Pervez Musharraf. Dubai-based Pakistan broadcaster ARY-One suffered the same fate.

Mir told the IFJ today that he had received messages in recent weeks that President Musharraf was displeased with his program.
Mir was informed this morning, as he prepared for his regular Thursday program, that the closure of both shows came into force at midnight on June 11.

Capital Talk had only returned to air in early March 2008 after being banned during the November state of emergency.

Today, the PFUJ was informed that the new bans would be debated when Pakistan’s Parliament next meets on June 14.

The IFJ joins the PFUJ in calling for a prompt parliamentary resolution for Pakistan’s Government to request that UAE authorities not intervene in the affairs of independent broadcasters and that the ban be overturned and the programs returned to air.

“The new Dubai bans against GEO TV continue a disturbing censorship pact that emerged in November 2007 when Pakistan pressured UAE to act against independent broadcasters,” said IFJ Asia-Pacific.

“The IFJ calls on the UAE Government to step back from its interference in independent and critical programming, which are essential components of a free media and open society anywhere in the world.”

Judges to be increase from 16 to 29 in federal Budget - Amazing

Federal minister for finance NAVEED QAMAR has announced in federal budget that judges size will be increased from 16 to 29.

How amazing was that... how come this judicial issue comes in budgetary discussion... HURRAY sir!!!

Muslim Majority States Trivia

Afghanistan, Algeria, Chad, Egypt, Guinea, Indonesia, Iran, Jordan, Kuwait, Lebanon, Libya, Malaysia, Mali, Mauritania, Morocco, Niger, Saudi Arabia, Senegal, Sudan, Somalia, Tunisia, Turkey, Yemen, Bahrain, Oman, Qatar, Syria, UAE, Sierra Leone, Bangladesh, Gabon, Guinea-Bissau, Uganda, Burkina Faso, Cameroon, Comoros, Iraq, Maldives, Djibouti, Benin, Brunei, Nigeria, Azerbaijan, Albania, Kyrgyzstan, Tajikistan, Turkmenistan, Mozambique, Kazakhstan, Uzbekistan, Suriname, Togo, Guyana and Côte d'Ivoire are all Muslim-majority states. Can you name the one -- and the only -- Muslim-majority state where Muslims blew up the Danish embassy killing at least eight other Muslims?




Courtesy: Curriculum of Hate

Government Succumb to pressure of Investors- Capital Gain Tax gone

The press release from KSE clearly states that government has abandon capital gain tax for next two years. This clearly marks the pressure that investors had put on the government in the recent past.
KSE investors were reluctant to give tax on the capital that they gain.A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of a non-inventory asset that was purchased at a lower price.
If US$ 73 billion (As of December 20, 2007) industry is not ready to give tax to help the people of this country then i would love to see Pakistan merge back into India cz they do have CGT for people. Thats how nations progress!!

Shame on there monsterous souls!!

Musharraf Cozin on HEC Payroll

Yet another revelation from AGPR against Musharraf favor to his family & Friends. Reportedly, HEC has hired the services of Professor Haroon Ahmed back in 2006 who is cozin of Musharraf. There is nothing wrong with being a cozin of a dictator but the issue is of financial and not relationship.
AGPR report has something like this

Professor Haroon notification has been issued on May 25, 2006.

Professor Haroon took charge on October 1,2006.

meanwhile he has been paid 2 thousand pounds monthly(half the pay) while he didn't took charge of office (report says it continued for six months).

He setup office in university(Cambridge) in Britain for which he was paid 6500 pound monthly.

AGPR is looking into financial embezzlement in this case

Courtesy: Rauf Klasra

Maj Gen (retd) Rashid Qureshi childish Comment

Responding to the allegation of Lt. Gen(retd) Jamshaid Gulzar Kyani on his MAIRAY MUTABIQ interview, the LEARNED AND COMPETENT General has remarked something interesting and childish.

Qureshi said that recently the retired general tried to be in the limelight, but when failed, he came up with this drama saying that chemical weapons were used in the Lal Masjid operation. He corrected that white phosphorus grenades were used to create smoke to enable the soldiers move inside the premises. He termed the allegation of using chemical weapons as a white lie. “What a nonsense that a retired soldier could not differentiate between chemical weapons and phosphorous grenades. The retired general in fact needs a new course to know the difference between the two,” Qureshi said.

Some googling found out tht who is the liar upfront.

White phosphorus can cause injuries and death in three ways: by burning deep into tissue, by being inhaled as a smoke and by being ingested. Extensive exposure in any way can be fatal.

Incandescent particles of WP cast off by a WP weapon's initial explosion can produce extensive, deep (second and third degree), burns. Phosphorus burns carry a greater risk of mortality than other forms of burns due to the absorption of phosphorus into the body through the burned area, resulting in liver, heart and kidney damage, and in some cases multi-organ failure.These weapons are particularly dangerous to exposed people because white phosphorus continues to burn unless deprived of oxygen or until it is completely consumed. In some cases, burns may be limited to areas of exposed skin because the smaller WP particles do not burn completely through personal clothing before being consumed. According to GlobalSecurity.org, quoted by The Guardian, "White phosphorus results in painful chemical burn injuries"

SHAME ON YOU Spokesman!!! GO TO PMA AGAIN!!!

Country wide Call Centers Voice Traffic Closed by PTA

Yet another RED MARKED story showed up on GEO. Reportedly, PTA has blocked the voice traffic of all the unregistered (illegal) call centers voice traffic. Which in return has blocked all the call centers of the country.
News is developing. .lets c whats in Pandora box this time from PTA.. cz i remember last time they blocked YOU TUBE too :D

Another Shame to Pakistan Name

As the news are developing, it has been heard that reportedly MOHAMMAD ASIF has been caught with OPIUM (AFEEM) on Dubai Airport while he was on his way to homeland.

Shame on these people.. he must not be let alone that easily.. As they say in Urdu,"KHUDA GANJAY KO NAKHON NA DAY" (MAY GOD DON'T GIVE FINGERNAILS TO BALDY).

Dr. Shahid Masood Interview with Lt. General Jamshed Gulzar Kyani

Watch the interview on Pakistan First

Lal Masjid Reborn

Lt. General Kyani (Ex-Core Commander Rawalpindi) in his recent interview with Dr. Shahid Masood has confirmed that army has used phosphorous gernades in mosque. Hope after impeachment they open the case of mosque too.

What is phosphorous gernade?

Expecting Miracles From Jackasses

A strange nation we are, expecting wisdom from morons, radicalism from born opportunists, and virtue from knaves whose principal claim to fame is daylight national robbery.

What do we take the national scene to be, the result of a Nepalese revolution or a Chinese long march? Benazir Bhutto returned to Pakistan after a deal brokered by the Yanks in whose prowess she had invested all her hopes. Nawaz Sharif's return to the country came about as a result of Saudi royal intervention. Hard to detect the glimmers of any Che Guevarism in either of these Roman triumphs.

Musharraf took off his uniform not because a million men and women, torches in hand, had besieged Army House but because the Yanks were twisting his elbow and support for him within the army command was waning. The lawyers' movement played a vital part in weakening him but lawyers take on too much upon themselves when they portray themselves as the heralds of the changes that have swept Pakistan.

All the leaders of the movement – from Aitzaz Ahsan to Munir A Malik to Ali Ahmed Kurd – are my friends. They are possessed of admirable qualities but modesty or humility, alas, is not the most conspicuous among them. They expect the world to change but themselves refuse to change, still stuck in the heady feelings generated by their movement last year. If the tide flows it also ebbs. Critical points come and pass. Their movement has lost its momentum and something more than Aitzaz's driving skills – his uncanny ability to arrive at every destination at least ten hours late – is needed to regain it.

The people made their views known on Feb 18 but only because they were given an opportunity to do so. If they had not been given that opportunity does anyone think that they would have taken to the streets and stormed the citadels of power? In which make-believe world do we live? Our capacity for being pushed around is virtually inexhaustible and our political class, far from honing the tools of political resistance, has arrived at the last stages of moral and intellectual bankruptcy.

If the Feb elections had been shelved, Pakistan would have dug a deeper hole for itself but the masses would not have stirred. A nation that could endure Ayub Khan for eleven years, that knight of darkness – Ziaul Haq – for another eleven, and a certified mediocre like Musharraf, a disaster in both war and peace, for eight and a half years, can put up with anything. Still the fact remains that whether the Yanks played around with the props on our political stage or the Saudi Royals had a hand in altering some of the background tapestry, elections were held, Musharraf and his pack of political jackals were roundly humiliated, and political parties reviled and abused, and kept out in the cold all these years, swept to a dramatic victory.

So the people were not remiss in expecting great things to happen. What they have received instead is another extended lesson in the workings of political bankruptcy, the political parties in whom the people had reposed their trust proving epic failures at political management. Instead of dealing with real issues and trying to figure out how to get the country out of the hole in which it is stuck they are chasing shadows, evening out old scores and charging at toothless dragons that have lost the power to spout any fire from their raging nostrils.

Zardari, to his credit, is being the man that he always was: interested in power and money. Courtesy of the deal struck with Musharraf (through the Yanks) he has just won himself the biggest reprieve in Pakistani history, all cases against him – and it was not easy counting them – having been wound up. The people of Pakistan may yet be awaiting their miracle but he has received his.

My Lord Dogar, presently adorning the highest chair in the Supreme Court, is the agent of this miracle. And the people of Pakistan, chumps as ever, expect Zardari to put Dogar in the doghouse while My Lord Iftikhar Chaudhry, symbol and hero of the lawyer-cum-judicial movement, sweeps into the Supreme Court. This won't happen in the real world as long as Zardari is around. So what he is doing is smiling all the time and spouting some of the worst clichés about institution-building that the people of Pakistan have had to put up with for a long time.

The people of Pakistan – ordinary people, that is, because some have had a ball – have had to put up with much all these years. But having to endure lectures on politics from Mr Zardari takes the prize. Those in the charmed circle of the PPP elect – that is, in Zardari's good graces and therefore enjoying office or importance – go about with trained smiles on their faces. Sherry, I said, was becoming a competent minister. She is also turning into a sophisticated version of the dreaded Mohammad Ali Durrani.

But imagine the plight of those not in this charmed circle. They have to take in all that they are subjected to without wincing or saying anything in return. Our political parties, all of them, produce no rebels. They turn out courtiers instinctively aware that discretion is the better part of valour.

So the nation is being fed a series of fibs as extended as the thousand and one tales of the Arabian Nights: all about constitutional packaging, etc. Zardari misses not a step when reciting this litany. Farooq Naek, the law minister, as he goes through the same paces looks a deeply unhappy man. Things are whirling out of control and the economy is sinking and the rupee taking a further dip every day but the political charade being played out in Islamabad goes on, each day bringing a fresh twist to it.

And what is that other great party of the people, the PML-N, doing? Heaping fresh imprecations on Musharraf's head when Musharraf is no longer the problem. Far from being a den of conspiracy, the erstwhile Army House where he is still holed up has now a house of sorrow, another lesson in what happens when the pomp and glory of power have fled. Yet the PML-N keeps harping on Musharraf as if with him gone or better still impeached, the bright morning Pakistan has long awaited will have finally arrived.

It is a sign of the state the PML-N is in that without giving the matter a second thought it overreacts to the appointment of a political nonentity like my old friend Salmaan Taseer (never mind if he is a smart finance man) as Punjab governor, turning Salmaan at least for 48 hours into a looming presence on the political landscape. Beware the time when Musharraf is finally no more because the time for excuses then will have run out. Whom them to blame for the nation's shortcomings or the ineptitude of the political class?

The PML-N also runs the risk of being perceived as a single-issue party. It has boxed itself so much into a corner over the judges' issue that it has drastically curtailed its room for manoeuvre. We will restore the judges, the party and its leaders thunder at every opportunity, when it lies not in their power to do so. The key to the restoration of the judges is in Zardari's pocket and he has other games to play and other accounts to settle.

The PML-N consoles itself with the thought that its graph is rising while the PPP's is plunging. That may be so but of what use a rising graph when it is hard to predict what is going to happen in the next five months, let alone the next five years. How long will the present pantomime last? Suppose it doesn't, will we head into an election or another night of the…I need not spell out the word. Zardari may be playing a negative game of his own but the PML-N's interest lies in seeing to it that the present experiment, centred on Pakistan's first attempt at coalition-building, lasts.

But for that it will have to break free from the shackles of the judges' issue. Perhaps it would if it got some help from the legal fraternity or even My Lord Chaudhry. But the legal community has run out of ideas while My Lord Chaudhry no longer seems capable of thinking outside the box. He has proved himself a great man in many respects but the gift that marks a Mandela from an ordinary mortal seems not to lie in his grasp. Someone with true greatness in his soul would have said by now 'all right I am ready to step aside provided Musharraf goes too, Dogar also goes, and the Nov 2 judiciary is restored' thus sacrificing self for a higher cause.

Iqbal, awakener of our souls, where has thy memory fled, where all thy songs exhorting us to emulate the flight of the eagle? At stake is the country's future, calling for vision and some measure of greatness. What we are getting is a dance by dummies and men of straw.

Courtesy: AYAZ AMIR
THE NEWS on FRIDAY

Power Crisis? A Myth or Reality

The facts and figures regarding electricity generation and its consumption in 2007 and the first five months of 2008 prepared by PEPCO show the present electricity crisis in Pakistan is the result of some carefully managed mismanagement for attaining certain objectives.Even the top professionals attached with the power sector smell a rat at the mismanagement done by not making payments to the Generation Companies (GENCOs) and the Independent Power Producers (IPPs) and not performing certain tasks in time deliberately on the direction of some hidden hands to create a fake crisis for certain objectives.

There was not an energy crisis in the country in the years 2006 and 2007 and even there were not any signs of such a big and long crisis in the air. According to the figures presented by PEPCO to a Standing Committee of the Senate last month, the power generation capacity of all the production units in January 2007 was 11,039 MW while the total demand was 12,093 MW with a deficit of 1,054 MW.

In Feb 2007, the generation was 12,552 MW, the demand was 11,590 MW and surprisingly there was surplus production of 962 MW. In March 2007, the production was 11,171 MW, consumption was 12,311 MW with a deficit of 1,140 MW. In April 2007, the production was 13,002 MW, the consumption was 13,843 MW with a deficit of only 841 MW. Comparison of these figures with the last months of 2007 and the first few months of 2008 tell a different story. In October 2007, the production was 13,492 MW, consumption was 13,737 MW, while the deficit was only 245 MW.

In November 2007, the production was 11,590 MW, consumption demand was 12,401 MW with a deficit of only 811 MW. On November 3rd 2007, the then Chief of the Army Staff (COAS) imposed emergency and sacked about 60 judges of the superior judiciary. "A strong demand from all circles of the society was raised to restore all the judges sacked unconstitutionally, and the mighty establishment started to play its role by creating many other fake crises to de-prioritize the real demand," many professionals attached with political and power sector say.

After the proclamation of emergency in Nov 2007, suddenly a fake crisis was created and the production in December 2007 was suddenly reduced to 9,679 MW, the consumption remained almost the same as it was in Nov, 12,154 MW and thus the deficit touched its peak and suddenly reached 2,475 MW. In Jan 2008, the production was 9,104 MW, the demand was 12,255 MW, which was not much higher than that of the demand in Jan 2007, but the deficit now was 3,151 MW. In Feb 2008, the production was 10,122 MW, the consumption was 12,123 MW while the deficit was 2001 MW. In March 2008, the production was reduced to 9,856 MW, the consumption was 13,010 MW and the deficit reached the point of 3,154 MW.

In April, the production was 11,300 MW, the consumption was 15,000 MW and the deficit touched the highest point ever in the recent years i.e. 3,700 MW.

Former railways minister Sheikh Rashid Ahmed told The News on Friday that in the last days of the Shaukat Aziz government, whenever he approached the prime minister and complained to him about the non-availability of gas, flour and electricity, the situation became normal for some days and gas and electricity load-shedding diminished. "But, after three or four days of my visit to the prime minister’s office, the situation again became worse. I want to say that the crisis was fake and was managed by some hidden hands who I do not know,” Sheikh Rashid said.

Former chairman PEPCO, Munnawar Baseer, when approached by The News on Friday, said that the major reason for the present crisis was stopping of payments to GENCOs and IPPs, which had lowered the production by 1,500 MW. Secondly, he said, reduction in hydel production had also lowered the production by more than 500 MW.

He said that the government was moving ahead with some mature planning to sort out this issue. He explained at the end of the last year and the start of the running year, there was a mismanagement of the highest level in all the departments of the government concerned with the power sector. He said that he couldn't say that all this was done for achieving some objectives “but it is sure that mismanagement was and is being done intentionally”.

Courtesy: The News on Saturday