Thursday 2 August 2012

LATEST NEWS: UPDATE:03.08.2012


US holds ‘productive’ talks with Pakistan spymaster

WASHINGTON: The US and Pakistani intelligence chiefs held “productive” talks on Thursday on ways to work together to fight extremists, a US official said, in a new sign of easing tensions between the countries.
Lieutenant General Zaheer ul-Islam, the new head of the Inter-Services Intelligence (ISI) agency, is paying the first visit to Washington in a year by the leader of Pakistan’s powerful spy body.
Zaheer met Thursday with Central Intelligence Agency director David Petraeus and held “substantive, professional and productive” talks, a senior US official said on condition of anonymity.
“The talks provided an opportunity to discuss a number of proposals for how we can enhance our joint efforts against terrorism,” the official said.
“Both leaders reaffirmed their commitment to work together to counter the terrorist presence in the region that threatens both US and Pakistani national security,” he said.
The official did not go into further detail. The United States has been looking for ways to cooperate with the ISI, whose relationship with US spies has swung from friendly to hostile in recent years.
The remarks echo those of the US commander in Afghanistan, General John Allen, who on a visit to Pakistan on Thursday praised “significant progress” in improving cooperation between the two countries.
Pakistani intelligence and the military were humiliated in May last year when US forces secretly penetrated the country and killed the world’s most wanted man Osama bin Laden, who was living in the army town of Abbottabad.
Pakistan shut down supply routes into Afghanistan – its key form of support to US forces since the September 11, 2001 attacks – after US forces killed 24 Pakistani troops in a border raid in November.
Tensions have since eased, with Pakistan reopening the routes after Secretary of State Hillary Clinton last month apologised for the deaths.
Pakistan on Tuesday signed a deal to keep the border open to convoys until the end of 2015, by which time the United States plans to withdraw most forces.
Frustrated with Pakistan, US intelligence has defiantly carried out drone attacks deep inside the country, despite Islamabad’s protests that the unmanned strikes violate its sovereignty.
US officials have repeatedly pressed Pakistani intelligence over its alleged relationship with the Haqqani network, which is blamed for attacks in Afghanistan including a siege last year of the US embassy.

Contempt not defined aptly in new law
ISLAMABAD: The Supreme Court of Pakistan (SC) resumed hearing of various identical petitions challenging the Contempt of Court Act 2012 Friday where the attorney general continued his arguments, Geo News reported.
A five-member bench of the apex court, headed by Chief Justice Chaudhry and comprising Justice Shakirullah Jan, Justice Khilji Arif Hussain, Justice Jawad S Khawaja and Justice Tassadduq Hussain Jilani, resumed hearing 27 identical petitions challenging the Contempt of Court Act, 2012.
While Attorney General Irfan Qadir continued his arguments today, Justice Khilji Arif remarked that the new law does not mention several terms pertaining to the contempt of court definition.
He said the terms of ridicule, scandalisation and contempt of court were not present in many sections of the law.
Replying to this, the attorney general said some alternate terms have been used while some are being explored.
Moreover, the attorney general said that he could not afford to divert “even an inch away” from the Constitution.
Upon which Justice Khawaja said that he ends up moving two to three inches away from the Constitution every time.
“No, I have not moved away from the Constitution to even a centimetre,” Qadir said.
On Thursday, Chief Justice Iftikhar Muhammad Chaudhry pointed out that the attorney general was trying to malign the judiciary and defame the judges after the latter told the Supreme Court that four of the judges on the bench hearing the contempt law case were prejudiced.
Advancing his arguments, the AG said the enactment of the new contempt of court law became necessary as there was no contempt law in the country while a premier was unconstitutionally convicted and disqualified by the apex court on charges of contempt.
He said that the law had not infringed on any fundamental rights of the petitioners, adding that the contempt of court law was enacted in line with the Universal Declaration of Human Rights. He pleaded that the petitioners should have approached the high court instead of knocking at the door of apex court, to which Justice Jawwad S Khawaja asked whether the bench should send the instant petitions to the high court.
The AG prayed that the bench not hear the matter directly under the provisions of law, adding that the instant petitions were not maintainable. He requested the judges to observe a code of conduct to uphold the dignity of judiciary. He also said four of the judges on the bench were prejudiced. At this, Justice Jawwad S Khawaja inquired why the AG had not raised the objection over the formation of the incumbent bench earlier, given that it had been hearing the petitions for the past 10 days.
The AG responded that he had tried speaking up but was told to remain quiet by the judges on the bench. The court directed the AG to name the judges in writing and give his reasons for calling them prejudiced.
Addressing Qadir, Justice Khawaja and Chief Justice Iftikhar said: “This is not the first time you have raised objections over the constitution of a bench.” Chief Justice Iftikhar moreover said that the attorney general was making an accusation that he could not prove, adding that Qadir should not try to defame the judges.

LATEST/BRIEF  NEWS:

·       President, MQM chief hold talks
·       President Zardari convenes ally parties’ important meeting today
·       DG ISI meets Marc Grossman
·       Pakistan face Great Britain today
·       Four bodies found from Karachi areas
·       Monsoon likely to hit upcountry today
·       Bomb blast in Quetta injures two
·       LHC bars PML-N’s Asif to attend PA session
·       Balochistan doctors’ strike enters 2nd day
·       Pakistan welcomes hostages freed by Somali pirates
·       Kayani, Allen see progress in ties





Business News:
Businesses praise Indian decision
ISLAMABAD: The business community has welcomed the Indian decision to allow investment by Pakistani nationals in India, stating that it would further economic development in Asia.
India’s decision to relax the ban on investments from Pakistan was made in April 2012 after Pakistan announced to grant MFN status to New Delhi.
Pakistan has never imposed restrictions on investments by Indians.
Hailing the move, President FPCCI Haji Fazal Kadir Sherani said that it will definitely benefit Pakistani investors and industrialists.
“What will be more interesting for Pakistan is when the Indian authorities lift the ban on Indian investors investing in Pakistan,” he added.
He also suggested that both countries should enhance the scope of trade with joint ventures and said, “India is a major market and Pakistani manufacturers and exporters should make the most of it by aggressive marketing of their quality products.”
Former President Saarc Chamber Of Commerce Tariq Sayeed said: “The decision will go a long way in eliminating poverty and help uplift the standard of living of 40 million people who live well below the poverty line on both sides of the
border.”

On bilateral trade relations, he said that normalisation of trade with India was in the interest of both countries as “it would help strengthen their national economies and boost economic activities in the region.”
India Pakistan Chamber of Commerce & Industry president S M Muneer suggested that all NTBs in the way of bilateral trade should be removed and all decisions taken in the past, particularly the opening of bank branches in both the countries should be implemented.
Mr Muneer also congratulated Indian Commerce Minister Anand Sharma on the major move and appreciated the efforts of High Commissioner of India in Pakistan Sharat Sabarwal, Commercial Counsellor of India Arvind Sexena and Minister (Trade) of Pakistan High Commission Naeem Anwar.
Meanwhile, the leadership of Saarc Chamber of Commerce & Industry (Saarc CCI) has hailed the Indian government’s decision allowing foreign direct investment (FDI) from Pakistan, terming it one of the strongest confidence building measures to improve bilateral relations.
Saarc CCI president Vikramjit Singh Sahney in a statement said that the step is a breakthrough in the history of both countries.
“It will not only augment bilateral cooperation manifold but also compliment efforts for meaningful implementation of SAFTA,”
he said.

Mr Sahney said that enhanced economic cooperation will help bring both nations closer, adding: “It is a very positive gesture showed by the Government of India and will give Pakistani enterprises an ample opportunity to make investment in almost all sectors.”
He hoped that both governments will soon announce flexible visa regime to further bilateral economic cooperation in the region.
SCCI vice president Iftikhar Ali Malik called the decision ‘first productive step’ towards regional development of South Asia.
“Opening up of investment opportunities in regional countries will have multi-dimensional effect on economic cooperation. The countries need to pave way to avoid double taxation and help create mutual strong economic zone in South Asia,” he said.
He called the criticism by certain quarters as ‘unjustified, adding: “The move will not drain money out of Pakistan. Those who want to invest overseas are already doing it in UAE, Europe and North America – but that is all in real estates or stocks which are risky ventures. In this case, we can have more investments in manufacturing and production sides which will help Pakistan develop a vendor industry in India while the Indians will come to Pakistan too.”
Meanwhile, the Rawalpindi Chambers of Commerce and Industry (RCCI) and Islamabad Chamber of Commerce and Industry have also welcomed the decision by India.
RCCI president Jawed Akhtar Bhatti said that good relations between Pakistan and India can change the fate of the South Asia.


EXCHANGE FOR CURRENCY NOTES:

U.S.A              95.65
S.Arabia         25.50
U.K                 149.88
Japan              1.2262
Euro               117.60
U.A.E                         26.04



BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)    Rs 48,942
Silver Tezabi              Rs 805.71

  Thu, 2 Aug 2012

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Faisalabad CNG stations closed for 3 days
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SBP receives $1.1 billion under CSF
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OGRA hikes POL, CNG prices
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MOHAMMED SALEEM MANSOORI

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