NRO implementation case: SC resumes
hearing
ISLAMABAD: The Supreme Court on Wednesday resumed the hearing in the
NRO implementation case, DawnNews reported.A five-judge bench of the apex court, headed by Justice Asif Saeed Khosa, was hearing the case.
During the hearing, Law Minister Farooq H. Naek presented the amended draft of the letter to be sent to Swiss authorities for reopening a graft case against President Asif Ali Zardari.
Earlier on Oct 5, the Supreme Court had given the government until Oct 10 to prepare a conclusive draft of the letter to be sent to Swiss authorities for the reopening of a graft case against President Asif Ali Zardari.
However, on Oct 9, the hitherto perceived face-off between the judiciary and the executive over the language of the letter’s draft turned into a reality.
On Tuesday, the government moved a petition seeking a review of the Sept 18 order in which the court had spelt out four-pronged measures that also suggested monitoring by the court of the matter’s final disposition. The steps included vetting of the letter’s draft by the court before approval.
NRO implementation case: SC resumes
hearing
ISLAMABAD: The Supreme Court on Wednesday resumed the hearing in the
NRO implementation case, DawnNews reported.A five-judge bench of the apex court, headed by Justice Asif Saeed Khosa, was hearing the case.
During the hearing, Law Minister Farooq H. Naek presented the amended draft of the letter to be sent to Swiss authorities for reopening a graft case against President Asif Ali Zardari.
The law minister said he was answerable to the judiciary, to the government and to God Almighty, adding that, he had not arrived in the court to violate the country’s laws.
Subsequently, the judges retreated to their chamber with the amended draft of the letter.
Justice Khosa said the letter’s draft was satisfactory, even praiseworthy, adding that, it was the first time that an honest attempt had been made to write the letter.
To which, Naek said that the judges knew best how to dispense justice, adding that, the judges should allow the course of justice to come full circle.
The judge then again retreated to their chamber for consultation.
Earlier on Oct 5, the Supreme Court had given the government until Oct 10 to prepare a conclusive draft of the letter to be sent to Swiss authorities for the reopening of a graft case against President Asif Ali Zardari.
However, on Oct 9, the hitherto perceived face-off between the judiciary and the executive over the language of the letter’s draft turned into a reality.
On Tuesday, the government moved a petition seeking a review of the Sept 18 order in which the court had spelt out four-pronged measures that also suggested monitoring by the court of the matter’s final disposition. The steps included vetting of the letter’s draft by the court before approval.
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Business News:
Japanese investors shifting focus to
Pakistan
ISLAMABAD, Oct 9: Pakistan would be the next frontier of Japanese
investors who now consider South-west Asian countries more opportune for
investments in view of the size of young population and friendly investment
policies, top official of Japan External Trade Organisation (JETRO) said here
on Tuesday. In a competitive world market, Japanese investors now want to shift their investment towards South-west Asia in view of congestion in opportunities in South East Asian countries where Japanese investors had already set up industrial plants, said Daisuke Hiratuska, Executive Vice President for South-West Asia of Japan External Trade Organisation while speaking to a group of newsmen here on Tuesday.
Pakistan is an ideal place for investment. Japanese investors had considered Pakistan ‘very dangerous’ country believing the media reports, but Jetro is playing its role to clear the misconception about Pakistan, he said.
In order to correct the biased perception and consider Pakistan as a destination for trade and investment in Asia, Jetro has organised a series of Pakistan-specific seminars in Singapore, Bangkok, Tokyo, Nagoya and Osaka where over 500 Japanese investors discussed Pakistan’s investment policy and opportunities for investments.
As an outcome of the seminars, Jetro lead a large business-oriented delegation comprising investors to Pakistan to gain first hand information about the investment climate.
He said the investment policy of Pakistan is very free and provides 50 per cent depreciation in the first year. Higher depreciation is good to attract investment, and in Pakistan it is high against 20 o 25 per cent in many countries, he said.
The members of delegation have only one objective: “to see Pakistan with their own eyes” and to change their misconception, Mr Hiratuska said.
Asked about the first-hand impression of the delegation, Mr Hiratuska replied that it was encouraging that the mindset is now changing. The delegation attended the Expo Pakistan in Karachi, met stakeholders and visited Bin Qasim and Port Qasim, he said.
Only 64 Japanese companies were currently operating in Pakistan as against 100 in India and hundreds in South-east Asian countries including China.
According to Jetro official, investment by big Japanese companies will help clear the misconception about Pakistan.
President Asif Zardari hosted a luncheon for the Japanese delegation on Tuesday, and stated that Pakistan can serve a market of over $3 billion in its neighbourhood by calling upon Japanese investors to benefit from the advantages.
He also urged foreign investors and entrepreneurs to take full advantage of enormous potential and opportunities for investment available in Pakistan.
EXCHANGE FOR CURRENCY NOTES:
U.S.A 96.25
S.Arabia 25.67
U.K 154.41
Japan 1.2276
Euro 125.01
U.A.E 26.21
BULLION RATES IN
RUPEES PER 10 GRAMS
KARACHI
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