Day: April 18, 2024

The Crown Prosecution Service (CPS) in the UK has brought charges against the driver/security guard for Pakistan Muslim League-Noon (PML-N) leader Nawaz Sharif for allegedly assaulting a woman by spitting on her last year in London. According to reports, the CPS has charged Farid Nemouchi with 'common assault' following a complaint made by Panzani Cheema, a Brunei national residing in London. The incident occurred last year in September when Cheema approached Nawaz Sharif, who was sitting in his car with his guard and began filming and questioning as Nemouchi was preparing to drive Nawaz Sharif home from his son Hasan Nawaz's office. Panzani Cheema knocked on the car window and greeted Nawaz Sharif before calling him a 'very corrupt politician.' In response, Nemouchi spat on Cheema's face, rolled up the window, and drove away. The video captured on Cheema's phone went viral on social media. Here is the video: Appearing at Westminster Magistrates' Court, Nemouchi, accompanied by his lawyer Moeen Khan, enter ed a plea of not guilty, indicating his intent to contest the charges of spitting on Cheema, who was not present in court. During the hearing, the prosecutor highlighted the distress and trauma caused to Cheema by the alleged spitting incident. The judge granted Nemouchi bail without any conditions attached, scheduling the trial for a later date in June or July. Nemouchi, originally from Algeria, is a skilled martial arts practitioner who provided security for Nawaz Sharif during his exile in London. His lawyer, Moeen Khan, emphasized his client's innocence and stressed the circumstances surrounding the incident, citing the ongoing threats to Nawaz Sharif's safety reported to the Metropolitan Police. 'We will seek to demonstrate that our client did not violate any laws. Considering the circumstances at the time of the incident, Farid was protecting a high-profile individual facing live threats,' stated Moeen Khan. 'Farid Nemouchi is an accomplished professional in his field, and he is entitled to the presu mption of innocence until proven guilty, as per UK law.' Source: Pro Pakistani

The Pakistan Army has taken a major step to ensure accountability by launching an inquiry, led by a major general, into the matter concerning a private housing society near Islamabad airport. Last November, Kunwar Mueez, the owner of a private housing society, filed a constitutional petition under Article 184/3 of the Constitution with the Supreme Court. The petition was filed against six intelligence officials, including former Inter-Services Intelligence (ISI) chief Lt Gen Faiz Hameed. During the hearing on November 11, 2023, a bench led by Chief Justice of Pakistan Qazi Faiz Isa including Justice Aminuddin Khan and Justice Athar Minullah reviewed the petition. Kunwar's legal counsel argued that the agency officials had allegedly committed offenses against his client under the guidance of Faiz Hameed. According to the lawyer, the secret service personnel, accompanied by Rangers officials, raided Kunwar Mueez's residence and workplace. He added that his client, along with his family, was detained, and the ir jewelry and a substantial amount of money were confiscated. Furthermore, false charges were allegedly leveled against Kunwar and his family to coerce them. During the hearing, the additional attorney general stated that the petitioner had other legal options available to address his complaint. Despite concerns regarding the challenges in getting relief due to the officials' status, the attorney general reassured the court that if Kunwar Mueez sent an application to the defense ministry, the matter would be handled by the law. The petition was dismissed following the assurance of the attorney general. According to a national daily, citing sources, an inquiry committee led by a Major General was formed after Kunwar Mueez approached the defense ministry in January this year. Source: Pro Pakistani

Prime Minister's Youth Programme and the United Nations International Children's Emergency Fund have signed a letter of intent in providing equal opportunities for education and training to the youth. The signing ceremony was held in Islamabad today. Prime Minister Shehbaz Sharif witnessed the signing ceremony. Earlier, a UNICEF delegation led by its Representative in Pakistan Abdullah A. Fazil called on the Prime Minister. The delegation apprised the Prime Minister about the collaboration between PM Youth Program and UNICEF regarding increasing the capacity and capability of the youth in Pakistan. The Prime Minister appreciated the steps being taken by UNICEF for the welfare of children all over the world including Pakistan. Source: Radio Pakistan

Pakistan Telecommunication Company Limited (PTCL), the leading telecom and ICT services provider in the country, has announced its financial results for the quarter ending March 31, 2024. The announcement was made during a Board of Directors meeting in Islamabad. PTCL continued its strong performance throughout Q1, 2024. PTCL achieved revenue of Rs. 26 billion for this quarter, which is 13 percent higher than last year, mainly driven by growth in fixed line and business solutions segments. The company has posted an operating profit of Rs 3 billion, which is 32 percent higher as compared to the same quarter of 2023. PTCL on stand alone basis has posted a net profit of Rs. 431 million. PTCL Group PTCL Group's revenue has increased by 14 percent YoY to Rs 49 billion, mainly driven by strong performance in the consumer segment led by fixed broadband, mobile data, and wholesale and Business Solutions. The Group has posted a net loss of Rs 4.8 billion which is 16% lower YOY. Meanwhile, PTML's (Ufone) revenue g rew by 27 percent compared to Q1, 2023. PTCL Consumer Business PTCL's aggressive deployment of FTTH and the strong performance of the corporate segment are the cornerstones for the topline growth. Continuing from the past quarters, PTCL's strategic focus remained on enhancing customer experience by providing the fastest and most reliable internet services under its flagship 'Flash Fiber' Fiber-To-The-Home (FTTH) brand, which boosts PTCL as one of the leading FTTH operators in the industry with a majority share of the market's net adds. PTCL's fixed broadband business has shown 22% YoY growth while voice grew by 4 percent YoY. In addition, PTCL's consumer business has gone into a strategic collaboration with Waada to provide health, life, and accident insurance to further enhance customer experience and grow its value-added services portfolio within the fixed-line business. PTCL Group's commitment towards its customers was further solidified by announcing the launch of a cutting-edge Android TV box (SHOQ T V) at Mobile World Congress (MWC) 2024 in Barcelona Spain. Integrating multiple Google apps, including the Play Store, into the set-top box along with a sleek UI and captivating graphics promises to deliver a transformative user experience. PTCL Business Solutions The Business Solutions segment continued its momentum sustaining market leadership in IP Bandwidth, Cloud, Data Center, and other ICT services segments. PTCL's Business solutions revenue has grown by 9 percent on a quarterly basis despite the addition of LDI operators and US$ to PKR parity improvement. Being the national telecom carrier and connectivity backbone in Pakistan, PTCL Group strives to provide innovative solutions to accelerate growth for a 'Digital Pakistan' through robust telecommunication infrastructure and a diverse portfolio of services with enhanced customer experience. PTCL Group is at the forefront of providing innovative solutions that strengthen the idea of a 'Digital Pakistan'. This is accomplished by building a strong tele communication infrastructure and offering a diverse range of services, all focused on elevating customer satisfaction and accelerating progress in the nation. In light of this, PTCL launched its first neutral Internet Exchange in Pakistan powered by DE-CIX. In addition, PTCL Group renewed its partnership with TPL Trakker for the provision of ICT services and with SNGPL for cellular services. PTML - Ufone Ufone 4G posted a YoY growth of 27 percent in topline in Q1 2024 supported by solid network expansion and strategic initiatives in Q1'24. This growth has been possible due to better customer experience and digital engagement through multiple data-centric products and strategic partnerships with leading digital platforms. Ufone 4G continues its network modernization activities to provide unmatched customer experience across Pakistan. Ufone 4G is making significant strides in enhancing its digital experience and offerings through the integration of various value-added services (VAS) within its key digital pr oducts. By incorporating Golootlo, Waada, and UCloud services into its leading digital products, Ufone is providing a more comprehensive and enriched experience for its customers. By integrating these VAS services, Ufone is likely striving to create a more engaging and attractive digital environment for its users. Ufone's UPaisa is now part of eandMoney, UAE and MobilyPay, KSA Apps menu, facilitating Pakistani diaspora to send money directly into UPaisa wallets by using these apps. As part of the digital transformation initiative, now Ufone franchises can order and pay from the UPaisa app to buy recharge from Ufone in real-time 24/7. PTML's digital brand onic is making steady strides in the industry by providing customers with a complete digital ecosystem for an enhanced experience. During the first quarter, Ufone 4G and Huawei successfully deployed the World's First Microwave Super Hub Solution in a Commercial Network to unleash unmatched Spectrum Efficiency. Another feather in the cap during Mobile World Congress; Huawei and Ufone 4G won the prestigious GSMA Global Mobile (GLOMO) Award 'Best Mobile Innovation for Emerging Markets' for revolutionizing the Microwave Network. Ubank Ubank, a microfinance and branchless banking subsidiary of PTCL stands resolute in its commitment towards financial and social inclusion, utilizing its extensive outreach to provide exceptional services to a diverse clientele across the length and breadth of the country through its rural retail banking, corporate finance and investment banking, Islamic banking, urban retail banking, corporate banking, and digital banking canvases. Keeping up with the mandate of financial inclusion, Ubank launched international remittances via eand from GCC, Mastercard and other related digital initiatives aimed at increasing the digital footprint of the group. Source: Pro Pakistani

President Asif Ali Zardari has underscored the need for meaningful dialogue and consensus to take the country forward. Addressing joint sitting of the Parliament in Islamabad this evening, he emphasized need for fostering an atmosphere of mutual respect and political reconciliation through the vision of great leaders including Quaid-e-Azam Muhammad Ali Jinnah and Shaheed Zulfiakar Ali Bhutto and Shaheed Benazir Bhutto. Sharing his vision for future, President Asif Ali Zardari urged the political leadership to prioritize specific needs of marginalized community and under develop areas, underscoring the need to move forward on the path of inclusive growth. The President said Pakistan needs to revitalize its economy. He said our primary objective should be to attract foreign direct investment. He urged the government to intensify its efforts in implementing comprehensive ease of doing business reforms and simplifying regulations to provide an enabling environment to both domestic and foreign investors. He c ommended the establishment of Special Investment Facilitation Council to attract investment in key sectors of the economy, describing it as a step in the right direction. The President underscored the importance of promoting positive working relationships and effective coordination between the Federal Government and the Provinces. He emphasized the importance of urgently investing in climate-friendly and climate-resilient infrastructure to mitigate the rapidly compounding risks of climate change. Expressing concerns over resurgence of terrorism, President reaffirmed Pakistan's resolve to eliminate terrorist elements. The President was appreciative of the friendly countries, particularly Saudi Arabia, UAE, China, Turkiye, and Qatar, who always supported Pakistan in difficult times. As regards relations with China, President said Pakistan will not allow hostile elements to jeopardize this vital project or undermine the strong bond between our two nations. Source: Radio Pakistan

The Lahore School of Economics has held its prestigious Annual Conference on the Management of the Pakistan Economy, on April 18-19, 2024, at the Burki campus in Lahore. This significant event brought together leading economists, policymakers, and academics to address the critical challenges facing Pakistan's economy and to propose viable solutions for sustainable growth. Dr. Shahid Amjad Chaudhry, the Rector of the Lahore School of Economics, inaugurated the conference by emphasizing the impactful insights derived from 17 research papers presented during this two-day forum. Dr. Moazam Mahmood, Seemab Sajjid and Amna Noor Fatima presented evidence that the Pakistani economy will grow at a rate of 2.3% in FY 2024 and showed that a combination of this low growth and high inflation will significantly increase poverty this year and in the coming years. They then showed that approximately 10% of taxes would have to be spent on transfers to lower-income households to eliminate this poverty and that this would bec ome larger over the coming years which implies that there must be a significant increase in transfers to households this year, through programs like the Benazir Income Support Program) and in the coming years to address poverty in Pakistan. Pakistan's economy was projected to grow at 2.3% over FY2024. Dr. Naved Hamid of the Lahore School of Economics and Dr. Murtaza Syed of the Asian Infrastructure Investment Bank discussed how high interest rates are necessary to combat inflation. They addressed common arguments against it and said that even if inflation was a result of supply-side factors and if government borrowing was relatively less responsive to high-interest rates, one of the most important ways to curtail inflation is still through interest rates. They also discussed that interest rate changes will be critically influenced by the amount of the fiscal deficit and the level of international commodity prices. Dr. Rashid Amjad and Almazia Shahzad of the Lahore School discussed how the stop-go cycle of e conomic growth in Pakistan is caused by unsustainable fiscal deficits coupled with foreign borrowing. They then proposed that the only way to achieve growth and stabilization in Pakistan was to reverse the roles of the federal and provincial governments. The federal government should concentrate on meeting the external financing gap, accelerate economic reforms, and manage the fiscal deficit while the provinces should engine for growth and job generation. He said that the provinces to incorporate growth and job generation targets into their annual development plans and also engage in private public partnernships to increase productivity and growth. Dr. Azam Chaudhry, Gul Andaman and Aymen Junaid discussed how the most binding constraint in Pakistan was stagnant exports and presented a proposal for an export-led industrial policy. In particular, they talked about policy prescriptions like providing more credit to exporters, using Pakistan's trade and investment officers to promote products and reducing import tariffs on intermediate goods used by exporters. They then provided a template for identifying high value-added export goods for future exports. Dr. Mujtaba Piracha and Dr. Muhammad Irfan of the Government of Pakistan discussed how Pakistan played a key role in the They explained how the WTO works and how Pakistan can use the forum to work in the country's favor keeping in mind Pakistan's macroeconomic situation. They discussed how to WTO framework to stimulate investment and transfer of technology from abroad to stimulate growth and how research and stakeholder are essential to trade negotiations. Dr. Theresa Chaudhry and Dr. Nida Jamil discussed the role of trade and trade policy on CO2 emissions in the Pakistani textile sector and the possibility of transition to renewable energy sources solar energy. Source: Pro Pakistani