DAILY BRIEF NEWS UPDATE: 19.01.2012

Gilani insists on presidential immunity

ISLAMABAD: Prime Minister Yousuf Raza Gilani along with his counsel Barrister Aitzaz Ahsan on Thursday appeared before the Supreme Court to file a reply to the contempt notice which the court had served on him for not implementing its judgment on the National Reconciliation Ordinance (NRO).
He became the third elected prime minister to appear in court on contempt charges.
Ahsan told the seven-member bench that the prime minister had appeared before the court as directed.
Gilani presented his arguments in the court and said that he had appeared before the SC previously as well…Benazir Bhutto and Nusrat Bhutto also appeared before the courts during their lifetimes.
He said:  “We respect the courts…my intention is to respect the constitution and my associates also respect the constitution.”
“I decided to appear before the court immediately after getting the notice,” he added.
Gilani further said that the president enjoys immunity from prosecution in the 18th Amendment, adding that a president elected with two-third majority could not be handed over to foreign courts.
Concluding his arguments, Gilani said that he had not given any impression that would entail contempt of court.
Justice Nasir-ul-Mulk commended the prime minister for appearing before the court.
Federal ministers and lawmakers from the Pakistan People’s Party (PPP) and other political parties were also present on the ocassion.
A DawnNews reporter present on the court’s premisis said that no Muttahida Qaumi Movement (MQM) leader had yet arrived for the hearing.
Speaking to media representatives here today, Information Minister Firdous Ashiq Awan praised the role the PPP played in the restoration and independence of judiciary.
Asfandyar Wali Khan, chief of the Awami National Party, told journalists before the start of the proceedings that friends are not to be left alone in difficult times.
He said that being a coilation partner of the government he had to come to the court.
“The court wanted some clarifications and the prime minister decided to attend himself. This is something the court and media should appreciate,”Interior Minister Rehman Malik told reporters.
A spokesman for the ruling party, Qamar Zaman Kaira, said Gilani’s acceptance of the court summons “shows his respect” for the country’s highest court.
“We fight cases in the courts, we do not fight with courts,” Kaira added.
Meanwhile, strict security measurements were in place in the capital city on the day when the bench resumed proceedings.
Surveillance cameras had been installed in court rooms as well as at public entry gates and in reception areas.
Due to limited seating capacity in room No 4, entry was regulated through passes. The gallery has been reserved for media representatives.
Moreover, no one was allowed to enter the city’s Red Zone area or the Supreme Court premises without special permission passes.
Earlier, Ahsan, the prime minister’s counsel, had said in an interview on Wednesday that going by Article 248 of the Constitution (immunity for a sitting head of state), the prime minister had not committed contempt of court.

SC adjourns PM contempt hearing to February 1

ISLAMABAD: Supreme Court adjourned a contempt hearing until Feb 1 for the prime minister on Thursday, leaving a brewing political crisis over corruption cases and presidential immunity unresolved.
The court has also exempted the premier from appearing for the upcoming hearing of the case.
Prime Minister Yusuf Raza Gilani was in the court to explain why he should not be charged with contempt for failing to re-open old corruption cases against his boss, President Asif Ali Zardari.
He became the third elected prime minister to appear in court on contempt charges.
Gilani’s counsel Barrister Aitzaz Ahsan told the bench that the prime minister had appeared before the court as directed.
He said the Swiss cases against Asif Ali Zardari could only be reopened once he ceases to be the president.
Ahsan requested the court for a month’s time to files a response. He said the time was required to access and go through the case’s record. Responding to which, Justice Nasir-ul-Mulk said that access to records could be provided in two days time.
Gilani also presented his arguments in the court and said that he had appeared before the SC previously as well…Benazir Bhutto and Nusrat Bhutto also appeared before the courts during their lifetimes.
He said:  “We respect the courts…my intention is to respect the constitution and my associates also respect the constitution.”
“I decided to appear before the court immediately after getting the notice,” he added.
Gilani further said that the president enjoys immunity from prosecution in the 18th Amendment, adding that a president elected with two-third majority could not be handed over to foreign courts.
“It will not give a good message to proceed against a president who is elected by a two-thirds majority.”
“I have discussed this with my friends and experts, and they all agree that he has got complete immunity,” he added.
Concluding his arguments, Gilani said that he had not given any impression that would entail contempt of court.
During the hearing, Justice Sarmad Jalal Osmany said deliberately refusing to implement a court order was tantamount to contempt of court, adding that, the premier has said that he had no intention of committing contempt.
Justice Nasir-ul-Mulk commended the prime minister for appearing before the court.
Justice Asif Saeed Khosa, moreover, said that the media reported the ruling on the National Reconciliation Ordinance (NRO) implementation case in an inaccurate manner.
Federal ministers and lawmakers from the Pakistan People’s Party (PPP) and allied parties were also present on the ocassion.
A DawnNews reporter present on the court’s premisis said that no Muttahida Qaumi Movement (MQM) leader was present during the hearing.
Speaking to media representatives here today, Information Minister Firdous Ashiq Awan praised the role the PPP played in the restoration and independence of judiciary.
Asfandyar Wali Khan, chief of the Awami National Party, told journalists before the start of the proceedings that friends are not to be left alone in difficult times.
He said that being a coilation partner of the government he had to come to the court.
“The court wanted some clarifications and the prime minister decided to attend himself. This is something the court and media should appreciate,”Interior Minister Rehman Malik told reporters.
A spokesman for the ruling party, Qamar Zaman Kaira, said Gilani’s acceptance of the court summons “shows his respect” for the country’s highest court.
“We fight cases in the courts, we do not fight with courts,” Kaira added.
Meanwhile, strict security measurements were in place in the capital city on the day when the bench resumed proceedings.
Surveillance cameras had been installed in court rooms as well as at public entry gates and in reception areas.
Due to limited seating capacity in room No 4, entry was regulated through passes. The gallery has been reserved for media representatives.
Moreover, no one was allowed to enter the city’s Red Zone area or the Supreme Court premises without special permission passes.

Pakistan`s economy recovering: World Bank

WASHINGTON: Economic activity in Pakistan firmed in the second half of 2011 although it continues to markedly lag behind other nations in South Asia, says a World Bank report released on Wednesday.
Pakistan is South Asia’s second largest economy, representing about 15 per cent of regional GDP.
The World Bank’s Global Economic Prospects report for 2012 warned developing countries across the globe to prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies dim global growth prospects.
The bank has lowered its growth forecast for 2012 to 5.4 per cent for developing countries and 1.4pc for high-income countries — down from its June estimates of 6.2 and 2.7pc, respectively.
The portion on Pakistan points out that the country’s economy firmed in the second half of 2011. Industrial production surged to grow at a robust 32.1pc annualised pace during the three months ending in October, after falling at 9.1 and 10.1pc rates during the first and second quarters, respectively.
Part of the strengthening in growth reflects base effects due to the widespread flooding that had hampered activity in the second half of 2010. Since the floods occurred in July and August 2010, GDP growth on a fiscal year basis (ending June-2011) slowed to 2.4pc.
The report notes that Pakistan’s weak growth outturns are also tied to “worsening security conditions, accompanied by greater political uncertainty and a breakdown in policy implementation”.
The report also notes that “infrastructure bottlenecks, including disruptions in power delivery,” remain widespread.
A notable bright spot has been a strengthening of exports, evident particularly in the first half of 2011, led by textiles that surged 39pc in the first half of the year.However, like India, Pakistan’s export volume growth saw a sharp fall-off in October.
Indeed, Pakistan’s export volumes fell to a minus 46pc rate in the three-months ending October.
Along with an upswing in worker remittances inflows, robust exports have supported Pakistan’s external positions and contributed to an improvement in the current account from a deficit of 0.9pc of GDP in 2010 to a surplus of close to 0.5pc of GDP in the 2011 calendar year.
The World Bank notes that monetary tightening in Pakistan brought about positive real lending rates in early 2011 as well, the first time since late 2009.
South Asia’s general government fiscal deficit — projected at 8.3pc of GDP in 2011 and significantly higher than in most other regions — is down only slightly from 8.8pc in 2010.
The bank points out that for South Asian nations, including India and Pakistan, domestic crop conditions and price controls are more important determinants of domestic food price inflation.
These factors have contributed to inflationary pressures in the region in 2011. Administered fuel price increases in Pakistan have also contributed to price pressures, although pass through of international price increases has been incremental and partial, such that some targeted local food and fuel prices remain subsidised to varying degrees and below international levels.
Regional monetary policy authorities face several challenges in reducing inflation.
More recently, currency devaluation has contributed to inflation as well. In Pakistan, monetary authorities have also been monetising the deficit, complicating the efficacy of other monetary policy efforts to reduce inflation.
A key factor working against monetary policy efforts is the overall stance of fiscal policy, which despite some  consolidation, remains very loose.
Monetary authorities in Pakistan have responded to persistent price pressures by raising policy interest rates and/or introducing higher reserve requirements.
Lower revenue growth has contributed to larger fiscal deficits in Pakistan. Terms of trade losses are estimated at about 1.9pc of GDP for the region in aggregate. India and Pakistan saw negative impacts of close to 1.8pc of GDP – estimated January through September 2011 terms of trade impacts relative to 2010.
Remittance inflow to Pakistan rose by an estimated 25pc in 2011, partly in response to the widespread flooding in the second half of 2010.
International reserve positions in South Asia have generally improved since mid-2008. Latest readings of foreign currency holdings were equivalent to at least three-months of merchandise imports in Pakistan.
Regional inflationary pressures in South Asia are projected to come down over the forecast horizon, assuming continued expansion of crop production in India, Pakistan, Sri Lanka and a decline in international fuel prices – reflecting weaker global activity in 2012.
A good crop year (2011-12) in much of South Asia and sustained high regional stocks are providing a buffer for grain prices and import demand in 2012.
Worker remittances inflows – which were equivalent to 5pc of GDP in 2010 Pakistan – could slow markedly through second round effects of weakened domestic demand in migrant host-countries, largely located in the Arabian Gulf.

Business News  Thu, 19 Jan 2012 -CNG stations reopen in Lahore region LAHORE: All CNG stations in Lahore region reopened at 6am today (Thursday) after three-day closure, Geo News report  -Euro edges down after mixed Australian jobs data TOKYO: The euro eased against the dollar in Asia on Thursday as mixed Australian jobs data rekindled risk aversion  -Asian markets rise on IMF crisis-fighting plan HONG KONG: Asian markets rose in early trade Thursday, tracking gains on Wall Street amid positive US economic date  -Oil prices higher in Asian trade SINGAPORE: Oil prices were higher in Asian trade Thursday, supported by news that the International Monetary Fund  -KSE vaults to one-and-a-half month high KARACHI: Energy stocks such as Oil and Gas Development Co Ltd (OGDCL) on Wednesday pushed the benchmark 100-Index  -Rupee strengthens; o/n rates tick up KARACHI: In the currency market, Wednesday, the rupee ended firmer at 90.21/28 to the dollar, compared to Tuesday  -Rupee strengthens; o/n rates tick up KARACHI: In the currency market, Wednesday, the rupee ended firmer at 90.21/28 to the dollar, compared to Tuesday  -CNG shutdown prolonged in Punjab LAHORE: CNG stations in Punjab will not open at scheduled 8:00 PM Wednesday, Geo News reported. The compress  -Asian markets mostly up but Europe weighs HONG KONG: Asian markets were mostly higher in early trade on Wednesday, extending the previous day s rally thanks  -Oil prices higher in Asian trade over US, China data SINGAPORE: Oil prices rose in Asian trade Wednesday on a weaker dollar and positive economic data from major crude  -Faisalabad IUs remain shut for 28th day FAISALABAD: The industrial units in Faisalabad remained shut for 28th consecutive day today as a result of suspens  -Lahore stocks on the rise LAHORE: Bullish trend prevailed in the Lahore Stock Exchange on Tuesday as it gaine  -Bulls gain strength at KSE; add 192 points to Index KARACHI: Pakistani stocks rose more than 1.7 percent on Tuesday as investors capitalised on bargain prices for blue  - Pakistan''s foreign investment falls 64 pct y/y in July-Dec KARACHI: Pakistan received $386.6 million in foreign direct and portfolio investment in the last six months of 201  - Asian shares up after European gains, China data HONG KONG: Asian markets and the euro rose Tuesday, lifted by a successful French bond auction and gains in Europe

LATEST/BRIEF NEWS:

·       President has immunity, Gilani tells SC

·       MQM ministers not accompanied with PM to SC

·       PPP always respects courts, PM Gilani tells NRO Implement bench

·       I acted within the limits of the Constitution: PM Gilani

·       SC contempt: Aitzaz gets two weeks for reply

·       Norway security chief quits

·       Grossman to visit India on Friday

·       Sherry Rehman meets President Obama

Mohammed Saleem Mansoori