KARACHI: The country’s Advance to Deposit Ratio (ADR) has been gradually contracting and stood at 37 per cent in June, down from 41pc in December.

This was revealed in the latest issue of A.F. Ferguson & Co’s PwC Banking Publication — Road to Sustainability. This year’s release features core themes like economy, credit penetration and digital transformation, carries insights from over 25 industry leaders, over 10 local and global surveys, snapshots of over 40 international banks and over 10 geographic regions.

“Investment to Deposit Ratio (IDR), on the other hand, has surged from 33pc in 2007 to 88pc in 2023 and 94pc in Jun-24,” the publication reported. These key benchmarks, relative to certain other economies, indicate an enormous potential for credit penetration in the country, it added. There was a sharp rise in profitability on the back of higher margins and non-funded income from different avenues. However, higher tax charges triggered disproportionate moderation in baseline profitability.

The publication offered suggestions for sustained, long-term economic growth. One of the core themes discussed with industry leaders and senior professionals was the country’s economic outlook. Experts underscored the importance of addressing structural deficiencies to improve GDP growth and other key economic indicators.

Only 3pc of SMEs borrow from banks; 75pc farmers rely on informal sources for credit

“Consistent economic policies and actionable long-term roadmap of interventions were also stressed upon,” said the Banking Publication. Experts see increasing imports and consumption as harmful for balance of payments and foreign exchange reserves, it added.

“Opportunities for export diversification and import substitution are enormous, especially in agriculture and tech sectors,” said the report.

Agriculture and SMEs

According to the report, SMEs and agriculture are the backbone of the nation’s progress. “Contributing 40pc of GDP, SMEs constitute nearly 90pc of all private enterprises in Pakistan, generate 30pc in export earnings and employ one-third of the country’s workforce,” said the report. “Out of five million enterprises, fewer than three per cent borrowed from banks,” it reported.

It said around 75pc of farmers still rely on informal sources of credit. Despite its historic importance, access to affordable growth capital remains restrictive.

“Financing for these critical sectors has been declining over the years and currently stands below eight per cent of total loans,” said the Banking Publication. Lending to the private sector is at 12pc of GDP, it added.

According to the publication, deposits grew significantly by 24pc to reach Rs29.1 trillion in 2023, with a further increase of 12pc in June this year, touching Rs32.5tr.

“Advances rose by four per cent to Rs13tr, much lower than 16pc growth rate of 2022, with no further increase till June 2024,” the report added. A significant expansion of 42pc was noted in investments, which reached Rs25.6tr last year and rose by 19pc to Rs30.4tr by June this year.

Borrowings were up by 51pc to Rs11.3tr last year, and by 12pc in Jun-24.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Space and Upper Atmo­sphere Research Comm­ission (Suparco) annou­nced on Wednesday its collaboration on a groundbreaking lunar exploration mission in partnership with China’s Chang’e 8 mission, set to launch in 2028.

“This collaboration marks a significant milestone for Pakistan’s space programme, as Suparco’s indigenous rover will be part of the mission to explore the lunar surface,” said a press release issued the commission.

The collaboration underscores the strong bilateral relations between Pakistan and China and their shared vision for advancing space exploration. Suparco’s rover, weighing approximately 35 kilogrammes, will join the Chang’e 8 mission, which is part of the larger International Lunar Research Station (ILRS) initiative.

The rover will land on the Moon’s south pole, an area renowned for its challenging terrain and potential for groundbreaking scientific discoveries. The mission’s objectives include exploring the lunar surface, conducting scientific experiments, and testing new technologies for future lunar and planetary exploration.

Key experiments will include the study of lunar soil, the mapping of the lunar surface, and the testing of sustainable technologies for human presence on the Moon.

Suparco’s rover, equipped with state-of-the-art scientific instruments, will play a crucial role in collecting data that could pave the way for future lunar missions.

Published in Dawn, November 14th, 2024

CAIRO: Israeli military strikes killed at least 22 Palestinians across the Gaza Strip on Wednesday, as Israeli forces deepened their incursion into Beit Hanoun town in the north, forcing most remaining residents to leave.

Residents said Israeli forces besieged shelters housing displaced families and the remaining population, which some estimated at a few thousand, ordering them to head south through a checkpoint separating two towns and a refugee camp in the north from Gaza City.

Men were held for questioning, while women and children were allowed to continue towards Gaza City, residents and Palestinian medics said.

Israel’s campaign in the north of Gaza, and the evacuation of tens of thousands of Palestinians from the area, has fuelled claims from Palestinians that it is clearing the area for use as a buffer zone and potentially for a return of Jewish settlers.

Students occupy defence firm Leonardo’s headquarters in Italy to protest against assistance to Tel Aviv

“The scenes of the 1948 catastrophe are being repeated. Israel is repeating its massacres, displacement and destruction,” said Saed, 48, a resident of Beit Lahiya, who arrived in Gaza City on Wednesday.

“North Gaza is being turned into a large buffer zone, Israel is carrying out ethnic cleansing under the sight and hearing of the impotent world,” he said via a chat app.

Protest

Around a hundred students occupied Leonardo’s Turin headquarters to denounce what they say is the Italian defence group’s complicity in Israel’s bombardment of the Gaza Strip.

The students, who unfurled a flag of the Palestinian territories from the roof of Leonardo’s offices, said the company was supporting Israel by providing remote technical assistance and spare parts to Israel’s air force. Leonardo declined to comment.

Images released by the students show them in Leonardo’s offices waving Palestinian flags and carrying spray cans. Outside they hung banners on the buildings saying ‘no arms to Israel’ and accusing the group of complicity in genocide. They also clambered on top of a plane in the grounds of the company’s headquarters.

Italian Defence Minister Guido Crosetto condemned the protest, saying on X that the students were “destroying and defacing” the offices where an “important meeting with the staff of the defence ministry” was taking place.

“These people must be treated for what they are, dangerous subversives. Criminals have no political colour, they are just criminals,” he said.

No plans for settlers’ return

The Israeli military has denied any such intention, and Prime Minister Benjamin Netanyahu has said he does not want to reverse the 2005 withdrawal of settlers from Gaza. Hardliners in his government have talked openly about going back.Speaking on Wednesday, US Secretary of State Antony Blinken said Israel “has accomplished the goals that it set for itself” by taking out Hamas’ leadership and ensuring the group is unable to launch another massive attack. “This should be a time to end the war,” he said.

“We also need to make sure we have a plan for what follows,” he said, “so that if Israel decides to end the war and we find a way to get the hostages out, we also have a clear plan so that Israel can get out of Gaza and we make sure that Hamas is not going back in.”

Senior Hamas official Sami Abu Zuhri said Blinken’s comments showed: “We are facing one enemy and that the US enmity against the Palestinian people is no less than that of the occupation.”

Medics said five people were killed in an Israeli strike that hit a group of people outside Kamal Adwan Hospital near Beit Lahiya, while five others were killed in two separate strikes in Nuseirat in central Gaza Strip where the army began a limited raid two days ago.

In Rafah, near the border with Egypt, one man was killed and several others were wounded in an Israeli airstrike, while three Palestinians were killed in two separate Israeli airstrikes in Shejaia suburb of Gaza City, medics added. Later on Wednesday, an Israeli strike on a house in western Khan Younis in the southern Gaza Strip killed eight people, medics said.

Published in Dawn, November 14th, 2024

TEHRAN: International Atomic Energy Agency chief Rafael Grossi arrived in Iran on Wednesday for discussions on Tehran’s nuclear programme, a week after Donald Trump’s election as the new US president.

Grossi, who is the director general of the UN agency, was greeted on Wednesday evening at the airport by Behrouz Kamalvandi, the spokesman for the Atomic Energy Organisation of Iran or AEOI.

Grossi is set to meet on Thursday in Tehran with AEOI chief Mohammad Eslami as well as Foreign Minister Abbas Araghchi, who was chief negotiator in the nuclear talks between Tehran and the major powers that resulted in the 2015 deal formally called the Joint Comprehensive Plan of Action or JCPOA.

The deal, reached after 21 months of negotiations between Iran and world powers, gave Tehran sanctions relief in exchange for curbs on its nuclear programme to guarantee that it could not develop a nuclear weapon — something it has always denied wanting to do. Three years later, then-president Trump unilaterally withdrew the United States from the agreement and reimposed heavy sanctions against Iran.

European powers pushing for resolution against Iran at IAEA

‘Comprehensive report’

European powers are pushing for a new resolution against Iran by the UN atomic watchdog’s board to pressure Tehran over its poor cooperation, diplomats say.

Such resolutions risk further diplomatic tension with Iran. The resolution would task the IAEA with issuing a so-called “comprehensive report” on Iran’s nuclear activities in addition to its regular quarterly ones, which would describe in more detail and put further focus on problem areas like Iran’s continued failure to explain uranium traces found at undeclared sites.

The aim is to force Iran back to the negotiating table to agree new restrictions on its nuclear activities in exchange for sanctions relief.

“Our concerns about Iranian nuclear activity are well known. It feels a natural point to be asking the IAEA for a thorough report. That then provides a basis to deal with Iranian behaviour,” a European diplomat said, one of five who said France, Britain and Germany are pushing for a resolution.

The United States has not been the driving force behind the resolution but is still expected to back it, as happened with the last resolution against Iran in June, diplomats said. The European powers seeking a resolution, known as the “E3”, are discussing the draft with the outgoing US administration.

Published in Dawn, November 14th, 2024

PESHAWAR: Governor Faisal Karim Kundi on Wednesday said that efforts were underway to highlight the issues of Khyber Pakhtunkhwa, especially of southern districts, in Special Investment Facilitation Council (SIFC) regarding trade and business.

He expressed these views during a meeting with a delegation of Kohat Chamber of Commerce and Industry, led by its president and vice-president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Rashid Ahmad Pracha.

During the discussion, the governor emphasised the importance of business community in fostering trade and industrial growth in the region.

He said that federal government allocated funds for establishment of an expo centre by Trade Development Authority in Peshawar, which was expected to be completed soon.

He said federal minister for information also approved establishment of a hall for cultural activities. He also mentioned his efforts to strengthen ties between traders from Saudi Arabia and Khyber Pakhtunkhwa as well as explore opportunities for business growth with Tajikistan.

Mr Kundi said that there were seven trade routes between Khyber Pakhtunkhwa and Central Asia.

“If these routes are restored, they can significantly change the province’s economic outlook,” he added.

The delegation also highlighted the increasing interest in setting up factories in Kohat and other southern districts of the province.

However, it raised concerns over lack of institutional support, inadequate facilities and poor connectivity, which remained main obstacles for investors.

The delegation requested the governor to forward to relevant authorities its recommendations for establishment of a Smeda office in Kohat, reduction in electricity tariffs and provision of other facilities and incentives.

In response, Mr Kundi assured the delegation of his full support and commitment to resolving the issues. He said that federal government was also serious about promoting trade and industry.

He said that international institutions acknowledged the improving economic situation in Pakistan.

The meeting concluded with the delegation thanking the governor for his assurances of cooperation and expressing the hope that the discussion would yield positive results for the province’s industrial and commercial development.

Published in Dawn, November 14th, 2024

MANSEHRA: Jamiat Ulema-i-Islam-Fazl provincial emir Maulana Attaur Rehman on Wednesday said that his party was going to launch a protest movement against Israel’s genocide in Gaza.

“I am here to invite you to our Dec 8 conference in Peshawar to demand an end to the killing of Palestinian men, women, and children by Israeli forces in Gaza,” Mr Rehman told a gathering here.

JUI-F district emir and former senator Hidayatullah Shah and provincial acting general secretary Maulana Nasir Mehmood also addressed the gathering.

Mr Rehman said JUI-F central emir Maulana Fazlur Rehman would address the Peshawar conference.

“We expect over one million people will attend the moot from across the country, especially Khyber Pakhtunkhwa, to show solidarity with Palestinians against Israeli brutalities,” he said.

Moot to be held in Peshawar to show solidarity with Palestinians

The JUI leader said his party was striving for the enforcement of Shariah in the country through peaceful and political means, hoping that the struggle would eventually succeed.

He said the party chief, Maulana Fazlur Rehman, helped steer the country out of constitutional and political crises and played a pivotal role in the enactment of 26th Constitutional Amendment, which carried a clause for the elimination of usury from the country.

Mr Rehman acknowledged rifts in the party’s Mansehra chapter and promised corrective measures.

DRIVE AGAINST ENCROACHMENT: The tehsil municipal administration on Wednesday launched a campaign against encroachments in Mansehra city and its suburbs.

“We have removed temporary and permanent illegal structures to ensure the smooth flow of traffic,” tehsil municipal officer Mazhar Muzzaffar Awan told reporters.

A joint team from the police and TMA cleared encroachments from along Abbottabad Road, Kashmir Road, and Shinkiari Road.

It also took away handcarts and goods placed outside shops and markets, and warned traders of strict legal action in case of road and pavement encroachments in the future.

“This anti-encroachment drive will be extended to the areas where traders have already been given notices to voluntarily remove structures obstructing traffic,” he said.

Mr Awan said handcarts and fruit and vegetable stalls outside the King Abdullah Teaching Hospital were also removed.

“We are also taking strict action against TMA’s officials who either remained absent or failed to attend to their duties regularly and a biometric system has been installed that verifies staff attendance using facial recognition,” he said.

The TMO said that officials still absent from duty were served with show-cause notices.

“We will terminate employees who remain absent and fail to respond to the notices,” he said.

The official said dumping sites were being relocated to protect people’s health and life.

“With the rainy season underway in the district, we have cleared all choked drains and sewage lines along the Karakoram Highway,” he said.

Published in Dawn, November 14th, 2024

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur on Wednesday said his government is committed to providing maximum opportunities to girls to excel in education and sports.

He said that perseverance was key to success in life and that striving forward with determination and high spirits ultimately led to success.

He was speaking at the concluding ceremony of All Pakistan Inter-Boards Girls Cricket and Tennis Championship held at the Board of Intermediate and Secondary Education, Peshawar, according to a statement issued from the chief minister’s secretariat on Wednesday.

The competitions commenced on Nov 9, featuring teams from KP and various other educational boards from across the country.

Mr Gandapur welcomed the participants from other provinces and emphasised the importance of organising sports alongside academic activities.

“The purpose of holding such events is to polish the skills of our youth, and get them prepared for practical life ahead,” the statement quoted Mr Gandapur as saying. “Challenges are part of the journey to success and should be faced head-on,” he added.

“A person becomes great when he dreams big,” he said while quoting PTI founder Imran Khan, adding that one must set ambitious goals and move forward with courage.

The chief minister congratulated the Lahore Board’s cricket team on its victory, and affirmed the importance of investing in youth.

Mr Gandapur also announced cash prizes of Rs50,000 for each participating team.

He also distributed trophies and shields among the players.

In tennis, the Lahore Board secured the first position followed by Mardan, while Peshawar Board and Punjab Board of Technical Education, Lahore, shared the third position.

Similarly, the Lahore Board clinched the first position in the cricket tournament, while Peshawar remained the runner-up.

The chief minister also inaugurated a newly-constructed gymnasium at the Peshawar BISE, which has been established at a cost of Rs160 million. The facility includes boxing, karate, taekwondo, wrestling rings, a table tennis court and a fitness gym.

Published in Dawn, November 14th, 2024

RAWALPINDI: Pakistan Intern­ational Airlines (PIA) will transport 35,000 Haj pilgrims to the holy land under a government scheme in 2025.

A spokesman for PIA said the Ministry of Religious Affairs and PIA have signed an agreement, under which the national flag carrier will operate special flights from six cities — Karachi, Islamabad, Lahore, Quetta, Multan and Sukkur — to transport 35,000 Haj pilgrims to the holy land in 2025.

The agreement was signed by PIA CEO Air Vice Marshal Aamir Hayat and additional religious affairs secretary Dr Syed Ata-ur-Rehman.

The PIA CEO reaffirmed his organisation’s commitment to provide best possible services to the Haj pilgrims.

The federal cabinet recently approved the Haj Policy for 2025, setting the cost for pilgrimage between Rs1,075,000 and Rs1,175,000. The sacrifice amount of Rs55,000 will be in addition to Haj expenses. This year’s Haj quota for Pakistan is 179,210, divided equally between government and private sector. Children under the age of 12 will not be allowed to travel for Haj.

The “Road to Makkah” facility will be available at Islamabad and Karachi airports. Haj group organisers will sign service provider agreements with the ministry of religious affairs, and these organisers will be closely monitored for provision of services.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Priv­atisation Commission’s board on Wednesday rejected a Rs10 billion bid submitted by the sole bidder for the divestment of 60 per cent shares in Pakistan International Airlines Corpo­ration Limited (PIACL), the privatisation ministry said in a statement.

The board decided to refer the issue of PIA’s privatisation to the Cabinet Committee on Privati­sation for further consideration.

Last month, the final bidding process for the privatisation of PIA attracted just one bid of Rs10bn for a 60pc stake in the national flag carrier.

Only real-estate development company Blue World City participated in the bidding process, placing a bid that was below the government-set minimum price of Rs85bn.

PC Board seeks improved offers for state-owned entities

The government had prequalified six groups in June, but only Blue World City participated in the final bidding process. Due to the huge difference between the expected and actual bids, the commission gave the consortium more time to reconsider its bid. However, Blue World City consortium chairman Saad Nazir kept the price unchanged.

On Wednesday, in a meeting chaired by Privatisation Mini­ster Abdul Aleem Khan, the board discussed advancing privatisation efforts for state-owned entities, including PIA and stressed the need to attract stronger bids in future transactions.

Mr Khan directed that the privatisation process should be carried forward without delay and underscored the importance of securing better offers for upcoming bids.

The board explored various options to expedite PIA’s divestment and reviewed the status of other ongoing privatisation transactions.

Mr Khan said that the framework given by the caretaker government for PIA’s privatisation was taken forward, but “now we have to keep in mind the concerns of the institutions involved in the privatisation”. He emphasised that “we have to learn from the privatisation process of PIA and have to be more active in future”.

The board decided to form a three-member committee to participate in the process of privatisation by members of the board. The meeting was briefed on various issues of privatisation and expressed satisfaction with the development so far.

During the meeting, various proposals were presented for PIA and the process of privatisation, and views were expressed on various issues and important decisions were taken. The minister extended the opportunity to all the Privatisation Comm­ission’s board members and heard their suggestions. Impor­tant issues related to the privatisation of other projects were also discussed.

“The privatisation issues will be completed in accordance with the laws and regulations and keeping in view the national interest before us because the final decision on the issues of privatisation of PIA and other institutions has to be taken by the cabinet committee,” Mr Khan said, according to the ministry’s statement.

In his briefing, the secretary of the Privatisation Commission noted that several international airlines, including Turkish Air­lines and Singapore Airlines, had expressed interest in PIA’s privatisation.

Published in Dawn, November 14th, 2024

AFTER Pakistan floated the idea of ‘climate diplomacy’ to tackle cross-border pollution in light of smog which has engulfed vast tracts of India and Pakistan, a US official indicated on the sidelines of COP29 that the White House may throw its weight behind any initiative taken in this regard.

Last month, Punjab Chief Minister Maryam Nawaz expressed her government’s intention to approach India to jointly counter the air pollution, which mostly comes from vehicular and industrial emissions, and is exacerbated in winter due to stubble burning.

Talking to Dawn on the sidelines of COP29 in Baku, Ali Zaidi — national climate adviser to the Biden administration — said the US was “100 per cent supportive” of partnership-based approaches to tackle problems that cannot be solved in isolation.

“In the US, we have this thing called the ‘good neighbour rule’, which governs smog. It actually was developed when we witnessed exactly this phenomenon in the US. So you know when it comes to cross-border pollution and cross-border issues, we are 100pc suportive of partnership-based approaches to tackle problems that cannot be solved on their own,” he said in response to a question about smog, which has made life unbearable for millions in Pakistan.

The White House official said the US was already active in the Hindu Kush — often referred to as ‘The Third Pole’ for housing the most glaciers in the world outside the polar regions — to better coordinate the mitigation response, because environmental impacts from glaciers do not isolate themselves to one jurisdiction.

“I think the regional solutions are a necessary complement to this sort of multilateral dialogue,” he said, referring to the COP summit.

The adviser said regional cooperation among relevant parties to address climate change would have more impact than putting “another ornament on a 1,000-page document (COP)”.

In response to a question about the failure of the world to help Pakistan after the 2022 floods caused damages to the tune of $30 billion, he said the global community needed to reinvent its approach to rebuilding from disasters, particularly by investing in pre-disaster mitigation.

According to the White House official, the US took a really long time to reengineer its thinking domestically in terms of building resilience into the recovery.

He favoured approaches that ran “consistent with the financial position” of states that needed to do rebuilding, saying there was a need to mobilise more countries to move more capital to help with adaptation and mitigation in these vulnerable countries.

In response to a question about the loan-laden climate finance framework, he said, “If you are targeting projects that have very clear cash flow and a strong counterparty then debt works just fine.”

He agreed some concessionary capital did need to come in depending on the technological aspect, the richness of the resources and the maturity of the market, while referring to India’s solar projects.

Vulnerable areas need significant grant-based aid, but there is still a need to figure out how to monetise risk reduction associated with adaptation finance and that’s why it was difficult to do. These places are going to soak up more grant-based finance, he said.

Speaking about the Trump-led US administration all set to take over from the Biden administration, he appeared optimistic, saying the states in the US will figure out how to provide the policy support even if the federal government stopped being part of it. About the US, he said it should remain part of the dialogue and be the author of the roadmap that will govern the contours of climate finance for decades to come.

Produced as part of the 2024 Climate Change Media Partnership, a journalism fellowship organised by Internews’ Earth Journalism Network and the Stanley Centre for Peace and Security.

Published in Dawn, November 14th, 2024

ISLAMABAD: Following a disruption that rendered virtual private networks (VPNs) dysfunctional across the country, the Pakistan Telecommunication Authority (PTA) on Wednesday said that VPN usage would be restricted in the future to curb access to pornographic content.

In a statement, the authority claimed it had so far blocked 100,183 URLs containing blasphemous content, as well as 844,008 pornographic websites.

The statement by PTA highlighting its performance came a day after the Ministry of Religious Affairs and Interfaith Harmony wrote to the regulator to ask it to block blasphemous and pornographic content.

“In addition to PTA’s proactive efforts, individuals and government organisations also report such sites,” the statement added.

The telecom regulator also claimed that approximately 20 million attempts were made from within the country to access pornographic websites on a daily basis, which were blocked at the international gateway level.

“However, users bypass restrictions via VPNs and access porn contents, PTA remains fully committed to curbing this issue, taking all necessary measures to block this content effectively,” the statement added.

In another statement, the telecom regulator said it had organised a consultation on the issue of VPN use, attended by representatives from the Ministry of IT & Telecommunication (MoIT&T), the Pakistan Software Export Board (PSEB), and the Pakistan Software Houses Association (P@SHA).

“The PTA introduced a stre­amlined VPN registration process, allowing legitimate users to register their VPNs through a new online portal at ipregistration.pta.gov.pk,” the statement said.

However, a senior executive from an internet service provider — in response to a Dawn query — said the authority was “making excuses”.

“How would they know that people are watching porn through VPNs? They have no capability to [monitor traffic through] VPNs, otherwise they would not block it,” the executive said.

He said the main target was blocking access to X and other social media platforms.

Published in Dawn, November 14th, 2024

LONDON: In a dramatic turn of events at the Old Bailey, Urfan Sharif confessed to the murder of his 10-year-old daughter, Sara Sharif, admitting in court that he “takes full responsibility” for her tragic death.

Sharif detailed the brutal treatment he inflicted upon the girl, acknowledging he beat her with a cricket bat and metal pole, leading to her death on Aug 8, 2023, days before her body was discovered in their Surrey home.

The confession came during cross-examination by Caroline Carberry KC, who asked him bluntly if he had killed her by beating. “Yes, she died because of me,” Sharif responded. He revealed that he had struck Sara “severely” over several weeks, reportedly because he was angered by her frequent episodes of soiling herself and vomiting.

Sharif, 42, his wife, Beinash Batool, 30 and his brother Faisal Malik, 29, all facing charges related to what prosecutors have described as a “campaign of abuse” against Sara. The trio fled to Pakistan shortly after Sara’s death, with Sharif later calling the British police to confess he had “beat her up too much”.

A handwritten note, found near Sara’s fully clothed body, further documented Sharif’s admission, stating: “I swear to God that my intention was not to kill her. But I lost it.”

Medical examination reports presented to the court were harrowing. Sara’s postmortem revealed 71 external injuries, including fractures, burns, and bite marks.

When confronted with images of Sara’s injuries, Sharif appeared unable to look, repeatedly saying, “I accept everything,” as Carberry questioned him on the details of his alleged actions.

The prosecution presented a disturbing video clip from Aug 6, showing Sara dancing just two days before her death. Despite this glimpse of her lively spirit, Sharif admitted to brutally beating her that same evening.

The defence team for Sharif later sought a private consultation with him in court, delaying further proceedings.

The trial, however, continues, with Sharif and co-defendants maintaining not guilty pleas to the charges of murder and causing or allowing the child’s death.

Cross-examination

During the hearing, Carberry asked: “Do you accept that you had been beating Sara severely over a number of weeks?” He replied: “Yes, ma’am.”

He went on to accept attacking Sara with a cricket bat repeatedly and causing 25 fractures to her body.

Carberry continued: “I want to ask you about the occasions when you assaulted her with a cricket bat. What had she done to deserve such beatings in your mind?”

Sharif replied: “Nothing.”

She asked: “Why were you beating her so forcefully?”

He replied: “I was wrong.”

She continued: “Were you angry with her because in the summer of last year, she had started soiling herself?”

He replied: “Yes ma’am.”

She added: “And she had started vomiting, hadn’t she?” to which Sharif replied: “Yes, ma’am.”

Carberry asked: “And when she was sick you would get angry? And when she soiled herself you would get angry?” He replied: “Yes ma’am.”

He accepted causing injuries to Sara’s face and head by beating her with the bat and metal pole on 6 Aug.

Carberry continued: “You have pleaded not guilty to the offence of murder. Would you like that charge to be put to you again?”

He replied: “Yes ma’am.”

Published in Dawn, November 14th, 2024

• Hike in petroleum levy, imposition of GST on petroleum products not expected anytime soon
• Govt sees economic activity picking up next month due to stable rupee, lower policy rate
• Senate body points to issues in Islamic banking, fraudulent POS receipts, fake ATM notes
• 10pc levy on transport with Iran has left over 600 trucks stalled

ISLAMABAD: The Inter­national Monetary Fund (IMF) is reported to have expressed satisfaction over the increase in the tax-to-GDP ratio by nearly 1.5 percentage points, relieving the authorities from any push for additional tax measures through a mini-budget.

According to sources closely involved in ongoing discussions with the visiting IMF mission, the Federal Board of Revenue’s (FBR) revenue collection target for the current fiscal year will remain unchanged at Rs12.97 trillion. Authorities have ruled out the need for additional taxes or a mini-budget, citing the IMF’s positive response.

Officials said that economic activity is expected to pick up by December in view of a stable exchange rate and a reduction in the State Bank’s policy rate, likely offsetting a tax shortfall of around Rs190 billion recorded in the first four months (July to October) of the fiscal year.

There would neither be any increase in the petroleum levy nor would general sales tax (GST) be imposed on petroleum products, the sources said after a meeting of the Senate Standing Committee on Finance and Revenue presided over by PPP Senator Salim Mandviwalla.

They said the tax-to-GDP ratio had increased from 8.8pc to 10.3pc and the IMF was satisfied with this 1.5 percentage point improvement.

The sources reiterated the commitment given to the IMF that tax collection on agriculture income would start from the next fiscal year. They said that tax reforms were progressing and the draft Tax Laws Amendment Ordinance 2024 had been presented to the prime minister for approval. The ordinance contains a new family income tax return system and abolishes the concepts of non-filers and late filers.

The sources, however, hinted at tinkering with the Tajir Dost Scheme to effectively bring in traders into the tax net and said these were being discussed with the IMF mission during the ongoing meetings.

The IMF has been told that the FBR collected Rs12bn from retailers during the first quarter of 2024-25, although only 500,000 potential retailers were the target out of three million small shopkeepers.

‘Slow progress on Islamic banking’

Earlier, the Senate panel decided to call scholars of the Council of Islamic Ideology to have input on the working of Islamic banking operations in Pakistan, for which a special session would be arranged.

The central bank’s deputy governor told the panel that Riba was the main difference between conventional banking and Islamic banking.

Senator Farooq H. Naek pointed out that full implementation of Islamic banking was committed for 2027, but progress had been very slow. The SBP’s deputy governor emphasised the need for continued deliberation on Islamic banking and assured the committee that several banks were actively working towards compliance.

FBR Chairman Rashid Mehmood Langrial told the panel that FBR’s enforcement would be improved in the coming months after approval of a transformation plan, including enhancing the board’s operational expertise, organisational capacities and anti-smuggling measures.

Key discussions during the meeting included the contentious 10pc levy on transport and businesses between Pakistan and Iran, raised by Senator Manzoor Ahmad Kakar in a Senate session. The committee resolved to report to the house that the issue may be referred to the Standing Committee on Communications, noting that the levy, imposed with the federal government’s approval, did not pertain to the Federal Board of Revenue.

While FBR officials emphasised that this specific tax was not their responsibility, Senator Kakar raised concerns that Pakistani trucks were being unfairly taxed, with over 600 trucks currently parked due to the levy. The committee agreed to forward the matter to the Communications Committee for further deliberation.

The committee also discussed concerns raised by Senator Mohsin Aziz regarding the fee collected by FBR for point of sale (POS) services and its utilisation. The FBR chairman confirmed the introduction of a policy to penalise businesses that are issuing fake POS receipts, imposing fines of Rs500,000 and shutting down shops involved in such practices.

Senator Aziz highlighted weaknesses in enforcement, with some fake receipts circulating in the mar­ket, including a bill in Islamabad marked “tentative”. The FBR chairman acknowledged the issue and assured that enforcement mea­sures would be strengthened soon.

A key briefing by the SBP highlighted the performance of banking branches in smaller provinces, revealing that as of June 30, 2024, there were 3,334 banking branches operating in Balochistan, Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Gilgit-Baltistan, accounting for 20pc of the total nationwide branches. Additionally, 199 branches of microfinance banks were serving these regions, representing 13pc of the country’s total microfinance network.

Another pressing issue discussed was the problem of counterfeit currency dispensed from ATMs. Senator Kakar cited a case where a young man received fake Rs5,000 notes from an ATM. The CEO of a commercial bank assured the committee that security measures were being enhanced to address this issue.

Published in Dawn, November 14th, 2024

“Republicans in the House and Senate have a mandate,” Johnson said earlier this week. “The American people want us to implement and deliver that ‘America First’ agenda.”

This brief shows how civil society organizations (CSOs) in the Lao People’s Democratic Republic (Lao PDR) are rooted in strong village traditions of community support, maps their growth, and explains how they help drive resilient development.

Blizzard Entertainment has announced and released Warcraft: Remastered and Warcraft II: Remastered for PC. They are available on Battle.net for $9.99 each.

The Warcraft Remastered Battle Chest is also available on Battle.net for $39.99. It includes Warcraft: Remastered, Warcraft II: Remastered, and Warcraft III: Reforged.

View a trailer below:

Read details on the two remasters below:

Warcraft: Remastered

Relive the original Warcraft tale of Orcs & Humans.

Journey back to the beginning of a 30-year legacy with the first Warcraft story created in 1994, now remastered with vivid, all-new visuals and modernized controls!

Experience the inciting war between Orcs and Humans that shook Azeroth to its core. Defend the realm as the noble Alliance, or seek to conquer it as the bloodthirsty Horde across thrilling faction campaigns or custom skirmish games. Whichever side you take, there has never been a better time to charge into the legendary battles of Azeroth’s greatest heroes in the Warcraft universe.

Rediscover Iconic Sights and Sounds

Toggle between the classic art and the lovingly updated hand-painted artwork. Take in the full view of epic battles with widescreen support and numerous visual updates for the user interface. Enjoy the classic musical themes, now uncompressed and rebalanced.

Classic Gameplay, Modern Controls

Modern improvements, such as health bars, increased unit selection, hotkey indicators, and more have been added to build a seamless experience for a modern audience.

A Preservation Of History

Having excavated original concept art from 1994, Warcraft: Remastered includes a plethora of never-before-seen pieces that heralded the beginnings of the Warcraft legacy! Enjoy the lore and history as it was told in the past.

Warcraft II: Remastered

Master the tides in Warcraft‘s second iconic title.

Captain your own fleet in the second Warcraft title created in 1995, now remastered with vivid, all-new visuals and modernized controls!

War between orc and humans rages on across the seas, and the fate of the world hangs in the balance as the great tacticians of the Horde and the Alliance clash. Only one thing is certain: winning this war will demand unprecedented cunning, courage, and nerves of steel.

The Tides of Darkness Rise Again

After you’ve experienced the campaign for Tides of Darkness, prepare to take your honed skills into the Beyond the Dark Portal campaign, which is also included in this complete Warcraft II: Remastered package.

Rediscover Iconic Sights and Sounds

Toggle between the classic art and the lovingly updated hand-painted artwork. Take in the full view of epic battles with widescreen support and numerous visual updates for the user interface. Enjoy the classic musical themes, now uncompressed and rebalanced.

Join the Frenzy

Integrated with your Battle.Net account, test your friends in multiplayer on classic or custom maps that support up to eight players at once! Connect globally with players around the world by hosting or joining custom game lobbies.

A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.

Full Article - https://www.vgchartz.com/article/463061/warcraft-1-and-2-remasters-out-now-for-pc/

Call of Duty: Black Ops 6 (PS5) has remained in first place on the French charts for week 43, 2024, according to SELL. 

The PlayStation 4 version of Call of Duty: Black Ops 6 remained in third place, while the Xbox version fell out of the top five.

Dragon Age: The Veilguard (PS5) debuted in fifth place.

Super Mario Party Jamboree (NS) remained in second place and EA Sports FC 25 (PS5) remained in fourth place.

Top sellers per system were as follows:

PS5

1. Call of Duty: Black Ops 6
2. EA Sports FC 25
3. Dragon Age: The Veilguard

Xbox Series X|S

1. Call of Duty: Black Ops 6
2. Dragon Age: The Veilguard
3. EA Sports FC 25

A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.

Full Article - https://www.vgchartz.com/article/463062/dragon-age-the-veilguard-debuts-in-5th-on-the-french-charts/

This week’s episode tidies up a lot of the season’s conflicts: Sean and his dad, Gaby and her sister, Alice and her guy-who-killed-my-mom.

An indefinable musical by a French auteur is headed for millions of streaming subscribers. Most of them will be entirely unprepared.

This week’s Gotham Award nominations offered bunches of points — and an early indication of how awards season may go.

He started chemotherapy for the Stage 3 cancer.

Marty, it’s time for a wealthy woman to have secrets.

The Garvey sisters are going to have a tough time finding out Grace’s secrets now.

Season two ends in a catfight cliffhanger and a Margaret Thatcher namedrop. Bleak.

And both Sydney Sweeney and Zendaya will be there, even if they don’t seem thrilled.

“Fortunately, I won’t be around to experience the four years.”

The giant statue of her was better.

Bananas takes his feud with Michele past the point of no return.

I wish we could have heard Ava’s “the art of the scheme” and “intimidation as motivation” speeches.

“I think they got chicken.”

Save over $200 on a Dell docking station with 130W Power Delivery and dual DisplayPorts.

Director Jeff Fowler wants to remind fans that Shadow is more than a gun-toting speedster.

The 90-million-year-old resin offers a rare trace of a long-lost ecosystem.

Are you not entertained?

Featuring interviews with Kiyoshi Kurosawa (Pulse), Takashi Shimizu (The Grudge), and many more, the documentary is now streaming on Shudder.

For $5,000, the Lightfoot scooter promises to charge up to a max of 20 additional miles a day, if you dare park it outside.

Get ready to make this warhouse a warhome.

Jordan Libowitz from Citizens for Responsibility and Ethics in Washington on Elon Musk and Vivek Ramaswamy's potential ethical obligations.

However, the veteran director did reply "never say never" when asked about using AI in filmmaking.

Amazon Haul is a sub-$20 discount online store to compete with the likes of Temu and Shein.

Sometimes it takes a little chemical inspiration to send you in the right direction.

Looking for secure cloud storage at an affordable price? The current promotion at pCloud, a well-known player in the market, is sure to appeal to you!

Doctor Who's ramped up production speed is part of why we're getting Double Moff this year.

The dwindling Never Trump faction has nothing left to offer but contempt for Trump voters and fantasies of destroying the Constitution.

Some Democrats are not prepared to accept Vice President Kamala Harris' election loss as legitimate

The guys on Monday's edition of the RealClearPolitics radio show discussed whether an apology from FEMA will be the end of the story, first reported by the Daily Wire, that some disaster relief teams were ordered to avoid houses with Donald Trump campaign signs during the cleanup from Hurricane Milton last month.

Elon Musk has jokingly suggested the 'Department of Government Efficiency' to describe his role with the new Trump administration.