------------------------------------------------------------------- DAWN WIRE SERVICE ------------------------------------------------------------------- Week Ending : 20 November 1999 Issue : 05/47 -------------------------------------------------------------------
Contents | National News | Business & Economy | Editorials & Features | Sports
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CONTENTS =================================================================== NATIONAL NEWS + Nawaz remanded in police custody + 26 top defaulters arrested: Benazir declared fugitive + Pakistan to have minimum N-deterrence + PPP plans for next elections + CE okays setting up of NRB + WAPDA's billing to Sindh govt was excessive, says Justice Shafi + UK asks Delhi, Islamabad to resume talks + Ehtesab commission disbanded + National Accountability Bureau ordinance amended + Chief Executive reiterates across-the-board Ehtesab + C'wealth decision creates new crisis for member states + KESC not merged with WAPDA, report denied --------------------------------- BUSINESS & ECONOMY + Rs6bn loans, Rs2bn utility dues recovered: Deadline largely ignored + $285 million debt: German officials to discuss rescheduling + Cash recovery goes up to Rs8.5 billion + Wapda, Hubco sign LC worth Rs3.95bn + SBP for daily revaluation from Jan + PTCL posts after-tax profit of Rs17.568bn + Indigenization programme may end by Dec 31 + NBP agrees on exchange of Eurobonds + Ban on corrupt bureaucrats' travel likely + Shares maintain optimistic outlook + 50% of WT assessees do not file returns + Industry shares 79% of total loan defaults + CBR to reopen case against Saif + Octroi, Zila tax not to be re-imposed, says Dawood --------------------------------------- EDITORIALS & FEATURES + Our heads of state Ardeshir Cowasjee + Cynicism takes a thrashing Ayaz Amir ----------- SPORTS + Saqlain spins Pakistan back in game with Test-best 6/46 + Saqlain, Waqar find their rhythm to send Aussies reeling + Pakistan, India, South Korea gun for World Cup spot + Jansher not in main draw of British Open
=================================================================== DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS =================================================================== NATIONAL NEWS 991120 ------------------------------------------------------------------- Nawaz remanded in police custody ------------------------------------------------------------------- Reporter KARACHI, Nov 19: Deposed prime minister Nawaz Sharif, a prime accused in the Oct 12 plane conspiracy case, was produced before the administrative judge of the anti-terrorism court on Friday. The court remanded him to the police custody for three days. "I was subjected to severe mental torture during the solitary confinement since Oct 12 as I was kept in a very small room," he told the judge when asked whether the police had maltreated him. He, however, did not complain about any excesses by the police, saying he had never come across the police during the confinement. The deposed premier, who was brought to the court in a Rangers APC around 11:53am amid tight security, informed the court that he never knew about the charges against him. He said he had learnt about the charges only today as he was confined to a room and provided with no newspapers. Clad in blue shalwar-kamiz and a waistcoat, Nawaz Sharif stated that most of the time since Oct 12 he was kept in Rawalpindi. The IO had sought a seven-day custody of Nawaz Sharif for interrogation, but the judge granted the remand for three days and ordered the IO to produce the accused before the court on Nov 22. The court also ordered the prosecution agency to arrange a meeting of the deposed prime minister with his wife, Kulsom Nawaz, and daughters, Uzma Nawaz and Mariam Nawaz. The meeting will be held on Monday at 9am but its venue was not disclosed. These orders were issued on an application filed by Iqbal Raad, who appeared on behalf of the accused. Mr Raad had also requested the court for a meeting between the accused and his paternal nephew. The request was rejected. According to the police papers placed before the court for obtaining the remand, the arrest of Nawaz Sharif was effected at 12 midnight on Oct 19. Nawaz Sharif remained in the court for about 36 minutes. Over a dozen commandos guarded the former prime minister and no one was allowed to get any closer to him. A little before the deposed prime minister was brought to the ATC, the police forced the media men out of the courtroom and the closed-door proceedings started amid strong protest by the journalists. Senior police officials told reporters that they had orders from the army authorities not to allow the media men talk to Nawaz Sharif. As the court proceedings ended and the deposed premier was brought out of the courtroom, the journalists asked him whether he was being tried in-camera. He remained silent with an apparent grim face and swiftly got into the APC. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991118 ------------------------------------------------------------------- 26 top defaulters arrested: Benazir declared fugitive ------------------------------------------------------------------- Ihtasham ul Haque & Arman Sabir ISLAMABAD, Nov 17: The government on Wednesday arrested 26 major bank defaulters and launched a hunt for 12 others, some of whom are believed to have fled the country. In all 300 defaulters have been short-listed for the arrest. It is said that they owe Rs50 billion to banks and the DFIs. Some of the 26 persons arrested were already under detention, like former prime minister Nawaz Sharif, former Punjab chief minister Shahbaz Sharif, suspended Senator Saifur Rehman, his brother Mujibur Rehman, and Brig (retd) Imtiaz. The chief executive's secretariat has also provided a list of nine persons, including the detained suspended senator Asif Ali Zardari and Ramesh Udeshi, some of whom have been declared either proclaimed offenders or fugitive from law without explaining what specific offences these persons have committed. This list includes the names of former prime minister Benazir Bhutto, Admiral (retd) Mansoorul Haq, Dr Farooq Sattar, Salman Farooqui, Abdullah Shah, Mian Aftab Ahmad and Riaz Laljee (fugitives from law). When asked the National Accountability Bureau (NAB) said that Benazir Bhutto had been categorized as "proclaimed offender" as she was wanted in a number of cases. Admiral (retd) Mansoorul Haq, Dr Farooq Sattar, Salman Farooqi, Syed Abudllah Shah, Mian Aftab Ahmad and Riaz Lalji were dubbed as "fugitive from law" because of being outside Pakistan, according to a NAB statement. However, the MQM sources confirmed Farooq Sattar's presence in Karachi. Legal experts, however, said Ms Bhutto could not be declared proclaimed offender as her appeal before the Supreme Court against the judgment of the Ehtesab Bench was still pending, and that she had left the country with the permission of the superior courts. NAB officials on the other hand said that Ms Bhutto had been convicted by courts and as such she was a proclaimed offender. According to the NAB, efforts were in progress to arrest some other culprits who have gone undergone and included: Syed Faisal Saleh Hayat, a former minis ter; Mian Waqar Akhtar Paganwala, Syed Ahmad Mahmood, a former minister; Agha Shahabuddin, Fauzi Ali Kazmi, Naveed Qamar, a former finance minister and chairman of the Privatization Commission in the PPP government; Javed Ahmad Zia, Maj (retd) Malik Nawaz, M. Yaqub (probably abroad) and Maj-Gen (retd) Shujaat A. Bukhari, the former chairman of Pakistan Steel (probably abroad). Informed sources said that the NAB headed by Lt-Gen Syed Amjad Hussain has sought the services of legal experts to frame charges against the wilful defaulters with a view to getting them convicted in the shortest possible time. "They all must be made a horrible example so that nobody should dare in future to run away with bank loans and indulge in corrupt practices," said an official. He said that everyday the NAB would furnish the names of the defaulters to be arrested at 6pm. The NAB was coordinating efforts with the ministry of interior as the job of investigation had been given to the FIA in which, according to the NAB officials, new people had been inducted to ensure a fair and impartial investigation against the culprits. A PPP leader, Aga Siraj Durrani, was arrested for being an ADBP defaulter. The amount of loan could not be known. Official sources said that besides being an ADBP loan, PPP's Mir Nadir Magsi was facing charges in the racket of carjacking and transportation of snatched or stolen vehicles to Balochistan. His family said that the personnel of army, rangers and police entered the house after midnight by scaling the walls and arrested him. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991120 ------------------------------------------------------------------- CE briefed on foreign policy: Pakistan to have minimum N-deterrence ------------------------------------------------------------------- M. Ziauddin ISLAMABAD, Nov 19: Pakistan would continue to extend moral, political and diplomatic support to the Kashmiris and, at the same time, maintain a minimum credible nuclear deterrence in the interest of regional peace and stability. These sentiments were expressed at the foreign office on Friday during a briefing given to the Chief Executive, Gen Pervez Musharraf, who spent the entire day there. The briefing, given by the foreign secretary covered the foreign policy and organizational matters of the foreign ministry. During the discussions following the briefing the role of missions abroad in advancing Pakistan's economic interests was emphasized. Several proposals were discussed for increasing the effectiveness of our embassies abroad in this regard. According to the foreign office spokesman, welcoming the chief executive, the foreign minister said that the chief executive's visit reflected his deep interest in foreign policy and the role of the ministry of foreign affairs. The foreign minister said the international community had reacted to the chief executive's sincerity of approach and the agenda set forth by him positively and with understanding. The international community now had a better appreciation of the circumstances of the change of government in Pakistan and its priorities for reform and democratization. The FO spokesman, in his written statement, said the foreign secretary had given a detailed briefing on all aspects of foreign policy, with particular focus on its future direction. The secretary said the foreign policy was rooted in "Islamic ethos, our values, our commitment to international norms and the geo-political environment." The safeguarding of national security, promotion of national interests and economic development constituted the pivot of foreign policy. "In our volatile geo-strategic environment, the foreign policy of Pakistan was its first line of defence. Consistent with the objectives of our foreign policy," the foreign secretary said Pakistan wanted good relations with all countries on the basis of sovereign equality and non-interference in internal affairs. Pakistan's positive approach to non-proliferation issues including CTBT was reiterated. It was agreed that Pakistan would continue policy of responsibility and restraint and maintain a minimum credible nuclear deterrence in the interest of regional peace and stability. The compulsive Indian hostility and her current propaganda campaign against Pakistan were noted with great regret. To deflect attention from her own state-sponsored terrorism, and repression against the Kashmiris, India has been raising the bogey of cross-border terrorism. Nevertheless, Pakistan would maintain its positive attitude towards a purposeful dialogue with India for resolution of all dispute including the core issue of Kashmir. Pakistan would steadfastly continue to extend moral, political and diplomatic support to the Kashmiris until the attainment of their right of self-determination in accordance with the UN resolutions. The Kashmiris have offered enormous sacrifices in their continued indigenous struggle against the Indian occupation. The international community, particularly the supporters of human rights must speak up against Indian atrocities and prevail upon India to honour its commitments to the Kashmiris. Pakistan desires durable peace, stability and national reconciliation in Afghanistan. A broad-based government in Afghanistan would be in the interest of the Afghan people. Pakistan would continue to cooperate with the Six Plus Two and friendly countries for consolidation of peace in Afghanistan and encourage greater engagement between Taliban and the international community. The detailed policy review took into account the state of Pakistan's relations with the major powers including the US, Russia and China, the Islamic world and Pakistan's neighbours as well as nuclear and security issues, our trade and economic interests and the welfare of Pakistani community abroad. Pakistan would continue to engage with the US on various important issues with sensitivity and in the spirit of traditional friendship which has characterized Pakistan-US relations. The improved relations with Russia were considered of great significance, Pakistan would continue to endeavour for enhancement of economic and commercial ties and an across-the- border expansion of relations with Russia. Relation with the Islamic world particularly with the Gulf countries were considered as the key element in Pakistan's Foreign Policy. These relations would be further strengthened in all fields. High priority was accorded to reinforcing of the traditionally friendly and close relations with Iran. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991119 ------------------------------------------------------------------- PPP plans for next elections ------------------------------------------------------------------- Mahmood Zaman LAHORE, Nov 18: The People's Party is learnt to be preparing lists of its prospective candidates for the national and provincial assemblies as it hopes that the military government may be obliged to allow a full-scale political activity in a few months from now. Besides, it has undertaken a big party reorganization plan with express directions to its tehsil bodies to get ready for local elections. Tehsil leaders have been told to get as close contact with the people as possible and cooperate with them in matters relating to any future electoral activity like getting new national identity cards issued to the people on attaining the required age. They have also been directed to approach local registration offices to get the cards of those cancelled who do not qualify to possess them. This is the first step which, the PPP thinks, will help in updating electoral rolls and go a long way in establishing a strong base for the future elections to be free from bogus voting. The PPP assumption of an early restoration of political process and subsequent elections, is based on "foreign pressure" on the military government and the party's own assessment that Chief Executive Gen Pervez Musharraf will have to seek political support sooner or later. The PPP thinks that restoration of a full-scale political process will not take more than six months. This is the assumption on the basis of which the People's Party "strongly" hopes that local council elections will not go beyond March 2000. Another reason to believe that local elections will be held in about six months time, is that the regime is itself committed to devolution of power to the grassroots level as part of the chief executive's seven-point agenda. This hope has first been reflected in a recent letter sent by PPP chairperson Benazir Bhutto to some of her party leaders and was echoed at the Punjab PPP executive committee meeting here on Thursday. Consensus emerging at the meeting was that the PPP was prepared to give another six months to the new administration for restoration of democracy and that the military government should issue a time frame for return to a democratic order. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991119 ------------------------------------------------------------------- CE okays setting up of NRB ------------------------------------------------------------------- Bureau Report ISLAMABAD, Nov 18: Chief Executive Gen Pervez Musharraf approved the establishment of National Reconstruction Bureau on Thursday to formulate policy/strategy options for the consideration of National Security Council (NSC). The bureau shall be headed by a chairman and comprise four to six members. The secretariat of the bureau will comprise the following officers, with ancillary staff, as per their entitlement:- 1) Secretary (of the rank of joint secretary to the federal government), manager (idea bank), manager (information technology). The admin branch will comprise deputy secretary (admin) and section officer (budget & accounts). Staff officer to the chairman will be a Lt Col. The chairman may constitute Think Tanks and appoint members thereof. The bureau shall be a part of the CE secretariat and principal secretary to the chief executive will be its principal accounting officer. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991119 ------------------------------------------------------------------- WAPDA's billing to Sindh govt was excessive, says Justice Shafi ------------------------------------------------------------------- Rafaqat Ali ISLAMABAD, Nov 18: Justice Shafiur Rehman, arbitrator in the dispute between the Sindh government and WAPDA, has held that WAPDA's billing was excessive, and held that out of the Authority's total claim of Rs20 billion the government of Sindh was required to pay only 55 per cent. In its finding announced on Thursday, the arbitrator held that WAPDA's billing was excessive to the extent of 20 per cent while the government of Sindh was not required to pay 25 per cent of even the valid bills as the electricity was consumed by unauthorised users. The arbitrator in its final award observed that WAPDA officials consciously allowed continued theft and dishonest extraction of electricity even by rank outsiders to the government and exercised none of their statutory powers to prevent or to punish the beneficiaries. "Instead, WAPDA officials went on billing government of Sindh for such unauthorized use by rank outsider and not entitled persons." The dispute between WAPDA and the Sindh government has been going on for the last five years. The case was referred for arbitration by the federal government on a request by the government of Sindh. Earlier, three committees were set up for resolving the dispute but the recommendations of none of these were implemented. The WAPDA had a claim of amount of Rs20,788.963. After the decision of the arbitrator the actual bill has come down to Rs11,433.929. WAPDA had already deducted Rs14,136.765 at source. The arbitrator has held that excess payment by the government of Sindh to WAPDA to the tune of Rs2,702.836 was adjustable. The issue before the arbitrator was "whether there has been an excessive, unjustified and arbitrary billing by WAPDA with regard to consumption of electricity by the establishments of government of Sindh located outside Karachi? If so, the nature and extent." Justice Shafiur Rehman observed that section 26 of the Electricity Act required that correct meters be used for ascertaining the supply of energy to consumers. Even the statement supplied by WAPDA showed that during the disputed period about half the meters were defective and the number replaced each year was negligible. It was further observed that evidence of the WAPDA officials itself painted a horrible picture. "What is shocking is that no explanation whatsoever is forthcoming to account for such state of affairs." The arbitrator further stated that no efforts seemed to have been made to improve the situation. "The conclusion is unavoidable that such a state of affairs was allowed to continue in order to allow WAPDA officials greater maneuverability in billing with nothing to explain, no standard to go by and no verification possible." The arbitrator further held that extrapolations exercises conducted in the past would not be a dependable method of arriving at a conclusion. The experts group had developed six extrapolation results but was unable to integrate them and instead chose to adopt one such without reference to the legal liability and responsibility. He said further that other such exercises were also deficient because in the case before him was dealing with a situation where the supplies were mostly and for long periods from unhealthy meters or no meters and the unauthorized connections/extensions were indiscriminately charged to government account. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991120 ------------------------------------------------------------------- UK asks Delhi, Islamabad to resume talks ------------------------------------------------------------------- NEW DELHI, Nov 19: British Foreign Office Minister Peter Hain on Friday urged India and Pakistan to resume their bilateral dialogue, despite the recent military takeover in Islamabad. "It is sad that, just as India returned a government which had shown itself committed to resolving issues with Pakistan through dialogue, Pakistan turned its back on democracy," Hain told a news conference here. "But this must not cut off the process of dialogue between Pakistan and India. We hope that both sides will remain open to contacts aimed at improving relations, and to addressing the issues between them." Hain was the first British minister to visit India since the Hindu nationalist-led coalition government of Prime Minister Atal Behari Vajpayee was returned to power following Sept-Oct elections. Speaking to reporters at the end of a two-day visit, Hain said that India and Pakistan needed to show political will to resolve the Kashmir issue. "It is not up to any other powers to step in to mediate. But if both the countries asked us to do it then we would step in. But no country should interfere in such a serious issue," Hain said. He said Britain understood India's "concern" over the military coup led by Gen Pervez Musharraf which toppled Pakistan prime minister Nawaz Sharif last month. "There is no such thing as a good military coup," he told reporters after meeting Vajpayee. "Whatever Nawaz Sharif's deficiencies and however good General Musharraf's intentions, he must be left in no doubt that an early return to democracy is the best service he can render Pakistan." Hain arrived in India as Prime Minister Tony Blair's special envoy with a message for the new Indian government. He said he had "very warm and friendly talks" with Vajpayee on issues such as trade policy, cross-border terrorism, investment and nuclear proliferation.-AFP DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991118 ------------------------------------------------------------------- Ehtesab commission disbanded ------------------------------------------------------------------- Ashraf Mumtaz LAHORE, Nov 17: The office of the chief Ehtesab commissioner (CEC) stands disbanded after the promulgation of the National Accountability Bureau Ordinance and the entire record of cases pending with the CEC will now be transferred to the NAB. CEC Justice Ghulam Mujaddid Mirza has stopped working, with over 150 other employees under him, and he has surrendered his official car to the relevant authorities. The services of the secretary and members for inquiry, investigation and prosecution, working with the CEC, also stand terminated. Of the remaining employees, services of those on contract will stand terminated and others on deputation will, possibly, go back to their parent departments. According to official sources, the majority of the commission employees were appointed on contract. The CEC was appointed for a four-year term, which was to complete in November next year. However, the three-year term of Secretary Javed Qayyum, Member (Inquiry) Malik Nawaz and Member (Investigations) Malik Nazir was due to expire next month. Member (Prosecution) Malik Hakim Khan was supposed to stay with the CEC till February. The office of the CEC was created in November 1996, immediately after the dismissal of the PPP government. The major task before the CEC was to hold all corrupt people to task. However, during the past three years only one major case could be decided and it was against former prime minister Benazir Bhutto who was convicted and disqualified as a member of parliament. A number of other cases are pending with the Ehtesab benches of various high courts. The PPP chairperson was abroad at the time of the decision and her counsel filed an appeal against the decision before the Supreme Court. The matter is still lying with the apex court. The accountability process was launched with much expectations by the 1996-97 interim government. However, it failed to take off because the PML, immediately after coming to power, changed the law to the benefit of the Sharifs. The Ehtesab bureau, headed by a close friend of the deposed premier, which was supposed to investigate all cases referred to it by the CEC, started shelving all cases against the former ruling party members. In fact, it focused its attention on cases against the PPP leadership. The CEC, informed sources say, was 'advised' many a time that he should dismiss all references against the deposed prime minister. One PML legislator, it is said, even offered his 'cooperation' to write an order for the purpose. However, the CEC did not agree with such suggestions and offers. The cases shelved by the EB will now be taken up by the NAB. It may be pointed out that the Lahore office of the commission has been lying closed since the ouster of the PML govt as a result of military action on Oct 12. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991118 ------------------------------------------------------------------- National Accountability Bureau ordinance amended ------------------------------------------------------------------- Bureau Report ISLAMABAD, Nov 17: The president has promulgated late Wednesday night the National Accountability Bureau ( Amendment) ordinance 1999 which substitutes section 3 with the following " The provisions of this ordinance shall have effect notwithstanding anything contained in any other law for the time being." In the original ordinance the section in question begins with " This Ordinance shall have effect...." .The other part of the section remains the same. The fresh ordinance also substitutes section 33 with the following: " Any and all proceedings pending before a court under the Ehtesab Act, 1997 ( IX of 1997), shall stand transferred to an Accountability court as soon as it is constituted under this Ordinance within the same province, and it shall not be necessary to recall any witness or again to record any evidence that may have been recorded. " In the original ordinance the section had begun with : " Any and all proceedings pending before a court under the Ehtesab Act, 1997....." . The other part of the section remains unaltered. The third amendment states that in section 35, in sub- section (a), after the word " shall occurring for the second time the comma and words" subject to the provisions of section 35, " shall be inserted and shall be deemed always to have been so inserted." Text of the ordinance: Whereas it is expedient to amend the National Accountability Bureau Ordinance, 1999 (XVIII of 1999), for the purposes hereinafter appearing; And whereas the National Assembly and the Senate stand suspended in pursuance of the Proclamation of the fourteenth day of October, 1999, and the Provisional Constitution Order No. 1, as amended; And whereas the president is satisfied that circumstances exist which render it necessary to take immediate action; Now , therefore, in pursuance of Proclamation of the fourteenth day of October, 1999, and provisional constitutional order as well as order no.9 of 1999, and in exercise of all powers enabling him in that behalf, the President of the Islamic Republic of Pakistan is pleased to make and promulgate the following ordinance:- 1. Short title and commencement.-(1) This Ordinance may be called the National Accountability Bureau ( Amendment) Ordinance 1999. (2) It shall come into force at once. 2. Substitution of section 3, ordinance XVIII of 1999.- In the National Accountability Bureau Ordinance, 1999( XVIII of 1999), hereinafter referred to as the said ordinance, for section 3, the following shall be substituted and shall be deemed always to have been so substituted namely;- "3. Ordinance to override other laws.- " The provisions of this Ordinance shall have effect notwithstanding anything contained in any other law for the time being in force." 3. Substitution of section 33, Ordinance XVIII of 1999.- In the said ordinance, for section 33, the following shall be substituted and shall be deemed to have always to have been so substituted namely:- "33 Transfer of pending proceedings:- Any and all proceedings pending before a court under the Ehtesab Act, 1997 ( IX of 1997) , shall stand transferred to an Accountability Court as soon as it is constituted under this Ordinance within the same province, and it shall not be necessary to recall any witness or again to record any evidence that may have been recorded. " 4. Amendment of section 35, ordinance XVIII of 1999.- In the said ordinance, in section 35, in sub-section(a), after the word "shall occurring for the second time the commas and words", subject to the provisions of section 33, " shall be inserted and shall be deemed always to have been so inserted." DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991118 ------------------------------------------------------------------- Chief Executive reiterates across-the-board Ehtesab ------------------------------------------------------------------- Correspondent RAWALPINDI, Nov 17: Chief Executive General Pervez Musharraf has reiterated that across-the-board accountability would be ensured in every field so as to provide relief and justice to the common people. Addressing the senior armed forces officers at the Army Auditorium here on Wednesday, he said the menace of "bad governance" led the country and its institutions to a "near collapse", badly affecting the government policies and common people. According to an ISPR press release the Chief Executive's address, lasting about an hour, focussed on the circumstances leading to the take over of power on 12 October besides his plans of action for the future. The Chief Executive asked the armed forces to contribute positively by upholding their image. "Nation is looking at us and their expectations are enormous", he added. Gen Musharraf was of the opinion that functioning of the present administration and its performance would improve with the induction of sincere and honest officials along with a transparent system of accountability and monitoring. He said monitoring teams would consist of armed forces personnel and their job had been restricted to monitor and report about the performance of government functionaries at all levels. The chief executive told the officers about the rules and functioning of National Accountability Bureau and the National Reconstruction Bureau. Gen Musharraf added that the accountability process would operate horizontally as well as vertically and all segments of society, including bureaucrats and military officials, would be made accountable. He said that devolution of power from centre to provinces and from provinces to district level would ensure the enforcement of democratic norms at the grass-root level. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991117 ------------------------------------------------------------------- C'wealth decision creates new crisis for member states ------------------------------------------------------------------- Nasir Malick LONDON, Nov 16: The Commonwealth communique, calling upon the international community not to accord any legitimacy to the military government in Pakistan, has created a new dilemma for several countries which have received applications from Pakistan for the accreditation of new high commissioners or ambassadors, political analysts believe. The Commonwealth heads of the government summit, that ended in Durban on Sunday while confirming Pakistan's suspension from the councils of C'wealth, had called upon the international community not to accord any legitimacy to the new military regime in Pakistan. The official decision of the Commonwealth, read out to reporters by its out-going Secretary General Emeka Anyaoku, said: "They believed that no legitimacy should be accorded to the new military regime and called for the restoration of civilian democratic rule without delay." Many countries are now perplexed with the new scenario as giving accreditation to new appointees could be construed as according legitimacy to the military regime in Pakistan. The new military regime had recalled 15 high commissioners and ambassadors, who were mostly political appointees of former Prime Minister Nawaz Sharif. Of these three were from Commonwealth countries - UK, Australia and Kenya. However, the ambassador to Kenya was again restored on his job. Other countries included the United States. Pakistan had sent applications for the new nominees to almost all these countries but apparently these countries were awaiting the outcome of the Commonwealth Summit before taking any decision. Islamabad is understood to have sent applications for appointment of Dr Maleeha Lodhi as ambassador to the US and Prof Akbar S. Ahmad as High Commissioner to Britain. A British Foreign Office spokesman when contacted by Dawn on Monday confirmed that the government had received the application for the accreditation of the new high commissioner. "We say an application for accreditation was received and is being considered," the Foreign Office spokesman said. Political analysts believe the Commonwealth countries like Britain and Australia will have to tread carefully in the light of the communique as according accreditation to the new nominees of Pakistan's military regime can be construed as a breach of the organization's directive. Many believe that the C'wealth countries faced with the new dilemma may approach its secretariat to seek clarifications on this issue before making a final decision. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991116 ------------------------------------------------------------------- KESC not merged with WAPDA, report denied ------------------------------------------------------------------- KARACHI, Nov 15: Karachi Electric Supply Corporation (KESC) had not been merged with WAPDA, KESC spokesman denied here Monday. The spokesman said the news in this regard appearing in a section of the press was totally baseless and concocted. The chairman WAPDA is also the chairman KESC's Board of Directors while the corporation is headed by its Managing Director, Brig. Abdu Rashid. KESC is a public limited company listed at Stock Exchange, the spokesman added.-APP
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BUSINESS & ECONOMY
991117
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Rs6bn loans, Rs2bn utility dues recovered: Deadline largely ignored
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Mohiuddin Aazim
KARACHI, Nov 16: Banks and other financial institutions made a cash
recovery of over Rs6 billion out of their total stuck-up loans of
Rs211 billion in a month-long drive against defaulters that ended
on Nov 16.
The State Bank and NBP in particular and all other banks in general
also recovered Rs2 billion in taxes and utility bills cleared by
the defaulters during the drive.
Senior State Bank officials were not available to confirm the
figures but bankers close to the SBP said the data pouring in at
the SBP head office till Tuesday midnight showed a cash recovery of
over Rs6 billion.
Inquiries made at the SBP office at Tuesday midnight revealed that
banks and other financial institutions were still sending figures
of loan recovery. Banks and financial institutions also continued
providing their final lists of top defaulters to the SBP till
midnight.
Information gathered from five major banks revealed that they had
made a combined cash recovery of more than Rs4.5 billion. Senior
executives of these banks said their recovery figures could improve
as they were in the process of receiving data from far-flung
branches across the country. The figures for combined loan
restructuring by these banks could not be obtained.
A senior executive of National Bank said they had made a cash
recovery of around Rs915 million out of its non-performing loans of
Rs23 billion. He said the NBP had also restructured Rs5 billion
worth of loans in the one-month campaign for settlement of stuck-up
loans. Restructuring of loans means that the borrower has agreed to
repay his non-performing loans under a mutually settled time-table
with the bank after making a down-payment in cash. The executive
said the cash recovery of Rs915m was included in the total loan
restructuring.
A loan is classified as non-performing when the borrower stops
repaying it for more than 90 days. The borrower is branded as
defaulter if he has not repaid the loan for more than a year but in
a broader sense the borrowers of all non-performing loans are
defaulters.
Muslim Commercial Bank said it had made a cash recovery of Rs1
billion till Tuesday midnight. A senior official said the MCB had
restructured Rs2 billion worth of loans out of its total non-
performing loans of Rs9 billion.
The official said his bank had sent a list of 21 top wilful
defaulters to the State Bank. He said each of these defaulters had
borrowed more than Rs100 million. He had no figures for their
defaults.
United Bank said it had recovered Rs800 million in cash and
restructured Rs1.4 billion worth of loans in the drive against
defaulters. Total non-performing loans of UBL stand at Rs22
billion. A senior UBL official said the bank had sent its final
list of top 20 wilful defaulters to the State Bank. He said the
amount outstanding against these defaulters was around Rs11
billion.
Bankers said wilful defaulters were those who had the means to pay
their loans but they did not make the payment. They said that in
several cases of wilful default such criminal elements as
embezzlement of borrowed money or misreporting were also found.
Allied Bank said it had recovered roughly Rs800 million. A senior
ABL executive said figures for restructuring of loans were not
available. Total non-performing loans of ABL stand at Rs10 billion.
The official said ABL had sent a list of 16 top defaulters to the
State Bank, adding that each of these defaulters owed more than
Rs100 million to ABL. He could not quantify the total default
committed by these top wilful defaulters.
Senior executives of HBL could not be reached till 1am on Wednesday
but sources close to the HBL said the bank had made a cash recovery
of more than Rs1 billion. They had no idea how much worth of loans
were restructured during the drive against the defaulters. The
number of top defaulters included in the final list of HBL sent to
the State Bank on Tuesday could also not be ascertained.
The National Development Finance Corporation reported cash recovery
of Rs350 million by Tuesday midnight. A senior NDFC official
explained to Dawn that Rs350 million recovery was from those
borrowers who had never shown up at the NDFC in the past.
"Our regular recovery of around Rs400 million during the past one
month is excluded from this figure," he said. The official said the
NDFC had sent a list of 186 defaulters to the SBP. He did not say
how much worth of default was committed by them.
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991120
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$285 million debt: German officials to discuss rescheduling
-------------------------------------------------------------------
ISLAMABAD, Nov 19,: Germany's official team is scheduled to visit
Pakistan from November 23 to hold negotiations for rescheduling an
estimated $285 million debt under the Paris Club arrangements,
sources at the Finance Ministry said on Friday.
"The team will hold negotiations with the officials here from
November 23 to 25 to sign agreement for rescheduling $ 285 million
debt of Pakistan," the sources told APP.
Teams from Norway and Sweden are also scheduled to visit Pakistan
for the same purpose by the end of this month, the sources further
informed.
"The Norwegian delegation is to arrive here on November 27, while
the officials from Sweden are scheduled to visit Pakistan on
November 29 and 30 for negotiations and signing agreement on debt
rescheduling." An amount to be rescheduled with Sweden is around $
81 million, the sources added.
Pakistan, in January last, signed an agreement with the Paris Club
for rescheduling of $3.3 billion debt over a period of 20 years.
Under the agreement, Pakistan was to sign bilateral agreements
individually with the creditor countries of the Paris Club by
December 31, 1999.
The sources further informed that agreements with Netherlands and
Finland have also been finalized and will be inked soon.
The agreements with the United States and the United Kingdom have
almost been concluded with just "minor issues" to be sorted out,
the sources said while adding, "We have already visited these two
countries and completed necessary talks."
To a question, the sources said, negotiations with rest of the
countries were in "advance stage".
Agreements with Canada, France and Russia are almost finalized, the
sources said.
The debt rescheduling amount of $3.3 billion agreed with the Paris
Club include both the Official Development Assistance (ODA) as well
as non ODA loans.
Pakistan will pay back the ODA loans in 20 years, with a 10 years
grace period. The non-ODA loans are payable in 18 years with a
grace period of 3 years.-APP
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991119
-------------------------------------------------------------------
Cash recovery goes up to Rs8.5 billion
-------------------------------------------------------------------
Reporter
KARACHI, Nov 18: The cash recovery of loans by the banks and non-
bank financial institutions has reached about Rs8.5 billion
and top bankers expect the figure could go further up after a week
or so.
The State Bank officials remained tight-lipped about loan recovery
but senior bankers close to the SBP said the cash recovery of all
banks and other financial institutions from across the country had
gone up to Rs8.5 billion. This is less than 6 per cent of the total
defaulted loans of Rs146 billion and slightly over 4 per cent of
the total non-performing loans of Rs211 billion which also include
the defaulted loans.
The defaulted loans are those which are not repaid for more than a
year whereas all those loans including defaulted loans that are not
repaid for more than 90 days are classified non-performing loans.
Inquiries made at major banks showed that their cash recovery
figures improved slightly after Tuesday midnight on completion of
data gathering process from far flung branches. Senior executives
of state-run National Bank said the NBP had so far received over
Rs1 billion in cash. Till Tuesday midnight the NBP had reported
Rs915m worth of cash recovery to the SBP.
Finance Minister Shaukat Aziz had told the press on Wednesday that
banks and non-bank financial institutions had made Rs8bn cash
recovery till Tuesday midnight. He had said that the figures could
improve after arrival of fresh data from remote branches of banks
and financial institutions.
An executive of partly-privatized Allied Bank told Dawn that cash
recovery at his bank had reached Rs830m. The bank had reported
Rs800m cash recovery till Tuesday midnight.
Figures for cash recovery from other banks could not be ascertained
but their executives said they had reported additional cash
recovery after the expiry of the deadline for settlement of bad
loans on Tuesday. The bankers close to the State Bank said the cash
recovery of about Rs8.5bn so far also included the amount recovered
after Tuesday midnight.
They said though the deadline given to the defaulters to clear
their loans by Nov 16 was over the banks were making cash
recoveries from all borrowers whether or not a defaulter. They said
cash recovery of loans was likely to record a substantial increase
in the days to come as some of the defaulters who were in
litigation with the banks may agree on out of court settlement of
their bad loans.
Agricultural Development Bank of Pakistan said on Thursday it had
recovered Rs1.58bn in cash before the expiry of the Nov 16
deadline. A press release quoted ADBP chairman Fazal Mabood as
saying that the ADBP cash recovery had totalled Rs1.58bn between
Oct 17-Nov 16, 1999.
The Industrial Development Bank said it had made cash recovery of
Rs332m. A press release said the bank had recovered Rs332m in cash
from its 281 defaulters. It said the cash recovery would result in
regularization of Rs7.7bn of non-performing loans.
Bank executives say they are working overtime on cases of loan
defaults of Rs100m and above after the SBP instructed them to
furnish complete details of such defaults by Nov 23.
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991117
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Wapda, Hubco sign LC worth Rs3.95bn
-------------------------------------------------------------------
Our Staff Reporter
LAHORE, Nov 16: Wapda and a consortium of banks, led by the
National Bank of Pakistan, signed an agreement for a stand-by
Letter of Credit worth Rs3.95 billion in favour of Hub Power
Company here on Tuesday.
NBP's part in the amount agreed will be Rs1.55 billion, Habib Bank
Rs750 million, United Bank Rs600 million, Allied Bank Rs550
million, Askari Bank Rs395 million and Bank Al-Falah Rs200 million.
NBP regional chief Asif Hasan and Wapda's General Manager Finance
(power) Javed Nizam signed the agreement on behalf of their
respective organizations. Senior Wapda and banks officials were
also present.
The agreement aims at easing tension prevailing on financial
matters between Wapda and Hubco.
In a briefing after the agreement signing ceremony, Wapda Chief Lt-
Gen Zulfiqar Ali Khan told newsmen that Wapda had been doing its
utmost to resolve disputes with Hubco.
He said it was Hubco which made unilateral changes in the original
agreement of Nov 16, 1993 under which Wapda was to buy electricity
produced by Hubco.
Wapda, he claimed, had only challenged these amendments which led
to controversies between the two organizations.
Replying to a question, he claimed that Hubco had been earning
handsome profit after it went into operation in 1996 and already
recovered its equity worth. At one stage Wapda was constrained to
buy power at the rate of 11 cents per unit which had now come down
to seven cents, he told a questioner.
He hoped that with new stand-by letter of credit in place, matters
would be quickly resolved with Hubco.
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991118
-------------------------------------------------------------------
SBP for daily revaluation from Jan
-------------------------------------------------------------------
Reporter
KARACHI, Nov 17: The State Bank has instructed all banks and non-
bank financial institutions to enter into master repo agreement
with their counter parties before striking repo deals between
themselves.
The decision would take effect from November 30 1999.
Master repo agreement is an internationally standardized and
locally modified document that envisages provisions to settle
defaults by either parties entering into a repo agreement. Once the
banks enter into master repo agreement they can undertake as many
repo transactions with the other party as they want because they
know the legalities of managing the risk of defaults. Years before
the absence of master repo agreement in India has caused its
banking system a huge loss because of large multiple but fake repo
deals.
A SBP circular (BPRD no 40) issued on Wednesday also advised banks
and NBFIs to revalue their security holdings on a daily basis from
January 1 2000. It asked them to report to the State Bank the same
day the movement of funds or securities in repo transactions
involving government securities. The SBP said for the purpose of
revaluing the security holdings Karachi inter- bank rate would be
introduced shortly.
Bankers said KIBR has already been in place and bankers for some
time are getting it through Reuters adding that the State Bank
might formally introduce the same for the purpose of revaluation of
security holdings of banks and NBFIs.
The circular said the securities held or acquired by banks or NBFIs
on account of transactions with the customers, other than the banks
and NBFIs, would neither be contend towards statutory liquidity
reserves nor would they be utilized for onward repo with banks and
NBFIs. It warned banks and NBFIs that the State Bank could stop
them from entering into repo transactions if they failed to comply
with these instructions.
The circular said that in order to ensure proper monitoring of cash
flow and interest rate risk all repo transactions would be for
fixed maturity.
Senior bankers reached by Dawn said the decisions taken about the
operational mechanism of repo transactions would create more
activity in the market and make money market operations transparent
enough for the State Bank to detect irregularities on time. They
said the decisions would also facilitate the secondary market of
securities to grow and force such NBFIs as leasing companies and
investment banks to refrain from entering into dubious multiple
repo transactions. The bankers said banks were already in practice
of making repo deals for fixed maturity and by making it mandatory
the State Bank had forestalled those banks that were planning
entering into optional transactions. Bankers said an operational
transaction is the one in which two parties enters into a repo deal
for say one month but they can terminate it before time.
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991118
-------------------------------------------------------------------
PTCL posts after-tax profit of Rs17.568bn
-------------------------------------------------------------------
Dilawar Hussain
KARACHI, Nov 17: Pakistan Telecommunication Company Limited (PTCL)
unveiled financial figures for the year ended June 30,1999 on
Wednesday, which came out on the top end of market expectations,
both in respect of profit and the payout.
The telecom posted after tax profit at Rs17.568 billion on
operating revenue amounting to Rs51.187 billion. This represented a
solid growth of 22.4 per cent over a year ago profit at Rs14.348
billion and 10.2 per cent increase in revenue over Rs46.466 billion
for 1998.
The market price of the share in PTCL closed unchanged at Rs19.70
on Wednesday, after oscillating between the high and low of Rs19.9
and Rs19.50. On Tuesday, the stock had gained nearly two per cent,
ahead of the announcement of results on rumours of higher than
usual payouts.
The board also recommended cash dividend, which was at Rs2 per
share of Rs10 each (20 per cent), representing improvement over the
previous year payout at Rs1.8 pe share (18 per cent). The payout
fell mid-way between the overall analysts' expectations of dividend
at 18 to 22 per cent. On the ruling price, it fetched an attractive
yield of 10.2 per cent.
For all its ebb and flow, many equity strategists had continued to
retain faith in the telecom stock. They maintained that it was a
high growth, high yield scrip. Several analysts following PTCL for
foreign brokerage houses in Karachi had forecast PTCL to post the
1999 profit between Rs16.500 to Rs17.000 billion.
Global Securities Pakistan Limited, which had predicted profit to
rise by 14.8 per cent to Rs16.7 billion, had been advising clients
to accumulate stock, based on expected high dividend yield as well
as three-month price performance.
Other figures in the profit and loss account announced on
Wednesday, were, operating profit, which improved 9 per cent to
Rs21.725 billion from Rs19.932 billion. Financial charges could be
cut by 21.3 per cent to Rs4.743 billion for the year under review
from Rs6.024 billion the previous year. Profit before financial
charges and taxation increased 58.6 per cent to Rs32.311 billion
from Rs20.371 billion.
The company has called the annual general meeting (AGM) on December
29.
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991119
-------------------------------------------------------------------
Indigenization programme may end by Dec 31
-------------------------------------------------------------------
Aamir Shafaat Khan
KARACHI, Nov 18: The official indigenization and deletion programme
for manufacture of auto parts will be required to be terminated by
December 31, 1999 as per Article 5.1 of the Agreement on Trade
Related Investment Measures (TRIMS).
The auto sector will be free to undertake indigenization and would
also be able to claim tariff concessions.
According to Ministry of Commerce, some developed countries have
been insisting for notifying a time table to eliminate TRIMS and
some developing countries are asking for more time.
Auto sector sources said that the Ministry of Industries believe in
the continuation of existing deletion policy, since WTO decision is
likely to affect adversely the development and growth of vendors's
industry.
Pakistan, being a signatory to the World Trade Organization (WTO),
is obliged to make certain changes in the laws relating to trade
policy, customs valuation and other trade related matters which
will effect country's local trade, finance and industry. These
changes are aimed at liberalizing the trade and to be implemented
by 2,000, an assembler said.
The Pakistan Automotive Manufacturers Association (PAMA) has taken
up the matter with the Ministry of Commerce, Ministry of Industries
and Engineering Development Board to save the industry from threat
it is facing from the proposed scrapping of deletion programmes.
PAMA in its letter said that the industry is currently in state of
uncertainty due to the TRIMS agreement. It is important to reaffirm
that the deletion programmes will remain in force notwithstanding
with the TRIMS.
In case the agreement comes into force, the industry will suffer
very badly in shape of job loss in the vending industry. Traders
will start importing parts to manufacture vehicles without local
content and foreign currency cost will go up widening the trade
gap.
According to PAMA, locally assembled tractors and two wheelers have
75 per cent local contents,57 per cent in truck/bus chassis and 65
per cent in small cars. The deletion policy has encouraged large
revenue contribution, new investment, employment and technology
transfer.
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991119
-------------------------------------------------------------------
NBP agrees on exchange of Eurobonds
-------------------------------------------------------------------
KARACHI, Nov 18: State-run National Bank of Pakistan says it has
received an offer from the government for the exchange of Eurobonds
and floating rate notes as part of its external debt restructuring.
'Mindful of the background of this offer and in consideration of
the long term interests of both the institution in part and
Pakistan as a whole the NBP has voluntarily agreed to participate
in the transaction,' says a press release.
NBP through its overseas branches holds a sizable amount of
Eurobonds and FRNs. Pakistan is exchanging these bonds and FRNs for
foreign debt restructuring because of balance of payment
shortfalls.
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991119
-------------------------------------------------------------------
Ban on corrupt bureaucrats' travel likely
-------------------------------------------------------------------
Bureau Report
ISLAMABAD, Nov 18: The military government has decided to put the
names of all the allegedly corrupt bureaucrats on exit control list
(ECL), it is learnt.
Official sources told Dawn that the interior ministry has sought
the lists of such government servants from all the
ministries/divisions and their attached departments so that these
names could be placed on ECL to avoid their escape from the
country.
In a latest circular issued to all government agencies with the
signatures of Ahmed Jawad, joint secretary, the interior ministry
asked for the immediate preparation of lists of all the government
servants who are being proceeded against under criminal/anti-
corruption/efficiency and discipline laws or charges of corruption,
embezzlement or financial mismanagement for their placement on the
ECL.
Similarly lists of officers against whom there are no formal
proceedings of any kind but they have a persistent reputation of
being corrupt or in possession of assets beyond their known means
of income were also be sought by the interior ministry.
The interior ministry wants the lifting of the existing general
prohibition on all the government servants under which they can not
go abroad without getting the no objection certificate from the
intelligence bureau.
Soon after the Oct 12 military take over, the present government
had stopped all the government servants from travelling abroad
without obtaining NOC from the intelligence bureau (IB).
It was believed that with the change of the government certain
officials who were allegedly involved in corruption or misuse of
authority during the previous regime, would make an effort to fly
abroad to escape possible action against them by the incoming
military rulers.
The intelligence bureau was asked to process the requests for the
NOCs promptly so that the genuine travelers were not be stopped at
the airports. But of late the intelligence bureau had told the
interior ministry that this additional work had increased the
workload of the agency following which it was decided to include
the names of all allegedly corrupt official on the ECL.
The interior ministry circular issued a few days back, wanted the
preparation of these lists within three days. But the government
departments, currently working on the exercise, believe that the
complete lists could not be prepared within three days.
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991120
-------------------------------------------------------------------
Shares maintain optimistic outlook
-------------------------------------------------------------------
Reporter
KARACHI, Nov 19: Shares on Friday maintained an optimistic outlook
aided largely by some positive developments on the corporate front
including higher dividend announcements and strong institutional
support.
The KSE 100-share index breached the psychological barrier of 1,200
points at 1,204.00 after moving to over 1,210.00 points.
Bears though were not sidelines they stayed away most of the time
amid predictions that the market is in for grand technical rebound
and if all to sell 'why not at the higher levels'.
'The market could witness a major change in its underlying
sentiment possibly by the next week as some of the ground realities
associated with the market recovery have undergone a needed
surgery', said a leading broker.
But turnaround will not manifest itself with a bang and could
progressive, of course, after consolidation of the earlier gains,
he added.
Apart from speculative support at the lower levels the sentiment
was also boosted partly by positive news on the Hubco front and
partly to good dividend news pouring in each session.
The KSE 100-share index breached the psychological barrier of 1,200
points and was last quoted at 1,204.13 as compared to 1,197.37 a
day earlier,up 6.76 points.
Analysts said there are reasons to believe that the market is
poised for a big turnaround possibly during the next week as most
of its irritants are fading out one by one.
'The big one among them,the 30-month old power tariff cut row with
the Hubco seems to be settled during the next couple of days as
indicated by the world bank highups', they added.
That is perhaps why who are well aware of its potential of capital
appreciation after the settlement of the issue are building up long
positions below Rs20.00 as it considered to be an attractive buy at
this rate, they said.
The general perception is that the market will be back on a stable
footing by the next week as dividend-inspired short-covering could
gain in stature at the current lower levels.
Shell Pakistan led the list of top gainers, up Rs15.10 on strong
support apparently ahead of higher dividend and was last quoted at
the day's peak of Rs234.70 on large turnover of 0.627m shares at
such a inflated level.
Other good gainers included 9th ICP, Paramount Spinning, Al-Ghazi
Tractors, BOC Pakistan, Knoll Pharma, Packages, Pak Leather and
Diamond Industries, which posted gains ranging from Rs2.00 to
Rs6.45.
Fazal Textiles, which has risen smartly during the last few
session, off Rs8.00 followed by General Tyre, easy Rs4.05 and
Millat Tractors and Cherat Papersack, off Rs2.25 each.
Sharp decline in General Tyre was attributed to selling prompted by
below market expectations dividend of 15% for the year ended Sept
30, '99.
DIVIDEND: General Tyre at the rate of 15% for the year ended June
30, '99.
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991116
-------------------------------------------------------------------
50% of WT assessees do not file returns
-------------------------------------------------------------------
ISLAMABAD, Nov 15: The number of Wealth Tax assessees registered as
taxpayers by the Income Tax department, not filing returns, has
crossed the 50 per cent mark at the end of October 1999. Only
191,312 registered assessees out of 400,900 filed their tax returns
by end of October 1999.
The Income Tax department officials told Dawn here on Monday that
more than 50 per cent of the registered assessees on the list of
the department are non-tax-filing right from registration as
taxpayers.
They added that these non-filing assessees (50% of the non-filing)
have never filed tax return but the department does not de-list
them to keep their ledgers of registration showing more "standard"
performance on the registration count. This standard performance,
they added, was the demand of the IMF officials and though the non-
filing trend has been on the rise during the 1997-98 and 1998-99
financial years, the department did not opt for launching a survey
to determine as to why these non-filers do not file returns.
On the contrary, they said, the ledgers on registration were being
filled in with new assessees, to show that the number of wealth tax
assessees is on the increase. They also pointed out that amount
deposited under the Direct Taxes sub-heads of Wealth Tax, Capital
Value Tax, Workers Welfare Tax and CAT, has been 0.28 per cent
lesser than the amount deposited under these sub-heads in the same
period last year.
Last year, the total amount paid by assessees falling in these
category of taxpayers deposited Rs 763.4 million, while this year
they paid Rs 761.3 million. The amount of Wealth Tax included here
is apart from the amount deposited under Universal Self-Assessment
Scheme and ledgered separately, every year. On the other hand,
though the number of tax-returns filing assessees has been going
down, the amount of tax they have been depositing has recorded
appreciable increase. The Wealth Tax amount deposited in the
current financial year's first four months (July-October) has been
Rs 618.53 million whereas, last year in the same period, this
amount deposited was Rs 367.67 million.
This performance has been despite the fact that the total number of
Wealth Tax assessees who filed the tax returns this year by end of
October was 191,312 against 207,433 last year.
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991118
-------------------------------------------------------------------
Industry shares 79% of total loan defaults
-------------------------------------------------------------------
Sabihuddin Ghausi
KARACHI, Nov 17: Industry shares almost 79 per cent of the total
loans default in the country mainly due to the perpetual adhocism
practised by all the successive governments during last 20 years,
along with the recession that hit globally, which has also
afflicted the domestic market - an almost five times depreciation
in Pakistani rupee's exchange value since 1981 - and of course the
inherent and unending greed of many businessmen who received all
patronage from the military and civilian rulers.
According to the bankers, the much maligned agriculturists share
hardly 5.36 per cent of the total default of big amount loans of
Rs30 million and above. "But remember many of these agriculturists
who were in all the assemblies and in every government after 1985
have claimed a big chunk of industrial loans and have defaulted on
payment", a top executive of a financial institution reminded
emphatically.
Also included in the category of these businessmen are the retired
and serving bureaucrats and those from the armed services who were
helped by all the successive governments in last more than 20 years
in getting hefty loans for the projects that would have been
declared at first sight by any honest and professional banker as
"not credit worthy".
Bankers say that traders share in default loans is less than 5 five
per cent. This include a trader who alone has defaulted on more
than Rs1 billion loans and his name has been appearing regularly in
all the successive lists of loan defaulters since late July 1993,
when caretaker set up of Moeen Qureshi made public for the first
time names of about 6,000 loan defaulters.
The remaining share in the default loans - a little over 11 per
cent - is shared by the services sector and others, mainly loans of
personal accounts obtained by the most influential persons either
in their own names or in the names of their spouses against over-
valued collaterals.
The five top commercial banks were the popular hunting ground for
all the adventurers since the time they were forced to offer long
term lending on fixed assets. Thanks to the World Bank and the
International Monetary Fund, the government after signing first
ESAF in 1981 forced the banks to offer long terms loans for
industrial projects on fixed assets as was done by the financial
institutions.
All these five top commercial banks, even after nationalization in
1974 were offering only short term loans for trading and for
industry, besides seasonal agricultural loans. After the government
heeded to the World Bank advice and accepted a line of credit for
disbursement through these banks - the HBL, UBL, NBP, ABL and the
MCB - there was no let up in the flow of loan applications in these
institution.
Little wonder then all these five top banks showed a total amount
of Rs143 billion non-performing loans at the beginning of this year
(1999). The bankers estimate that total portfolio of non-performing
loans of these five top commercial banks is over Rs155 billion. Of
this about Rs122 billion has been defaulted on by the industrial
sector. The public sector default is anywhere from Rs35 to Rs40
billion and about Rs82 billion is accounted for by the private
sector.
Of this total default of over Rs80 billion, the five banks are
reported to have received Rs8 billion from the borrowers in their
recently concluded recovery drive. These borrowers are reported to
have settled their accounts of about Rs25 billion.
Total recovery of PICIC in the current drive is Rs250 million and
that includes Rs100 million disbursement from a business group
after two months. Senior executives in PICIC appear to be contended
with this recovery as they maintain that quite a good number of
their 94 infected accounts have been settled and regularized. As
one of the senior executives expressed the hope that by June next
year, PICIC will have a Rs12 billion portfolio of performing loans
and Rs6 billion of non-performing loans.
The Industrial Development Bank of Pakistan, also one of the oldest
financial institution has a portfolio of Rs7 billion of non-
performing loans. The officials claim to have recovered Rs327
million in the current drive and have been able to settle and
regularized a large number of infected accounts.
But as the IDBP invested projects are old and the sponsors are
facing mounting liabilities mainly on account of steep fall in
exchange value of Pakistani rupee, the officials find it extremely
difficult to recover total liability. The only option available is
restructuring and rescheduling which would involve a substantial
write offs. The IDBP needs Rs4 billion funds as equity to be back
in business as a viable entity.
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991117
-------------------------------------------------------------------
CBR to reopen case against Saif
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Correspondent
ISLAMABAD, Nov 16: The Central Board of Revenue has finalized
papers to reopen the Rs18.7 million under-invoicing case against
the former chief of Ehtesab Bureau, suspended senator Saifur
Rehman.
The charge of under-invoicing and evading Rs136 million customs
duty on 25 BMW cars imported by the Redco was set aside by Lahore
High Court, Rawalpindi Bench, on Jan 29.
The case-file was reopened on Sunday last at the CBR by the Customs
(Evaluation) Wing on instructions from the military government,
sources said here on Tuesday.
A Karachi Customs lawyer, Ismat Mehdi, has reportedly been engaged
to serve notice on Saifur Rehman in this connection, said the
officials.
They added that the military government's instructions to retry the
former EB chief in this case were received on Sunday evening and
the Customs Evaluation Wing completed the process to send the
collected evidence for retrial to the lawyer on Monday evening.
Saifur Rehman faced an under-invoicing notice of Rs18.7 million
from the Customs department on import of 25 BMWs but was acquitted
by the Lahore High Court, Rawalpindi Bench on January 29, 1999.
The Redco had imported the vehicles as agent of BMW to introduce
BMW's 3161-4 series cars in October 1992. After the enquiry report
was finalized by the Customs department in early 1994, a notice was
issued to Redco for depriving the treasury of custom duties worth
Rs136 million in the said import.
The military intelligence agencies are learned to have already
investigated the case and evidence obtained during and after the
setting aside of Customs charges by the LHC, Rawalpindi Bench.
Evidence gathered during these investigations has also been
reportedly annexed to the material to be produced at the court in
support of the appeal for retrial to be filed shortly, the sources
added.
The prosecution in the LHC case was accused of having deliberately
withheld vital information regarding the under- invoicing, and
there was a demand from legal experts for independent
investigations into the under-invoicing as charged by the Customs
department.
The chief Ehtesab Commissioner Mujaddad Mirza, too had said the
case, along with other cases against Saif and Nawaz could not be
sent for investigation to the Ehtesab Bureau operating under Saif,
and the investigations had to be undertaken by some other
independent and impartial agencies.
Redco had pleaded with the LHC that the prices of BMW cars varied
in different export markets and the prices in Pakistan market were
different from those applicable in Korea or Japan. It had pleaded
that BMW cars marketed in Pakistan did not have accessories like
pollution control instruments, air bags, seat belts and collapsible
steering which implied a price differential, whereas the Customs
department had got prices from BMW Germany through the Pakistani
embassy.
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991117
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Octroi, Zila tax not to be re-imposed, says Dawood
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Parvaiz Ishfaq Rana
KARACHI, Nov 16: The Minister for Commerce and Industries Abdul
Razzak Dawood on Tuesday assured the business community that the
government would not re-impose Zila and Octroi taxes abolished by
the previous government of Nawaz Sharif.
In his first meeting with the Karachi businessmen held at the
Export Promotion Bureau (EPB) headquarters, the minister
categorically dispelled the impression of government plan to
reintroduce the Zila and Octroi system.
The minister, who belongs to a well known business-cum-industrial
family of the country, is well abreast with the problems facing
this community. The representatives of over two dozen trade bodies
have faced no problem in communicating with him as most of the
issues raised by them were readily agreed upon by the minister.
When his attention was drawn towards the multiplicity of taxes and
the harassment meted out to the businessmen at the hands of 39
collecting government agencies, Abdul Razzak Dawood had no second
opinion about the issue.
He assured to work for the early resolution of the matter and felt
that the business community could not afford to waste time in
dealing with these agencies if they want to enter the new
millennium well prepared.
Abdul Razzak Dawood said that henceforth no independent SROs or
notifications would be issued which are mainly to oblige an
individual or a group and becomes a vehicle for earning huge amount
at the cost of national exchequer. "I have already refused to issue
such SROs and suggested that no one should approach me or the
ministry in future," he added.
The meeting which lasted for over two hours also witnessed some
complaints coming from exports with regard to the performance of
the Quota Supervisory Council (QSC). A leading exporter asked the
minister to hold an inquiry about the missing quota of 325 tons
given under Special Flexibility Quota by the EU.
The minister for commerce was also informed about the incentive
scheme for exporters notified by the previous government but which
was not implemented. Dawood assured that once he goes through the
scheme the exporters may be allowed duty adjustment for their
incremental exports during 1998-99.
However, he said there are matters which need to be looked at from
WTO point of view and its agreement, and as such no unilateral
decision could be made.
There was general concern amongst the participants that the value-
added textile industry is not being consulted at the policy making
stage which damages their interest.
A participant informed the minister that as per his information the
export refinance scheme would be stopped by June 2000, therefore
some other source of cheap fiance be arranged. In reply to this
Abdul Razzak Dawood said that he would look into the matter as he
cannot say anything off-hand.
Back to the top=================================================================== EDITORIALS & FEATURES 991114 ------------------------------------------------------------------- Our heads of state ------------------------------------------------------------------- Ardeshir Cowasjee HOW are they remembered? Mohammad Ali Jinnah: For achieving his ambition to found a state, which he hoped (vainly as it turned out) would be modern and democratic, a home for those in need of protection, their own country in which they could live and prosper. For enunciating his creed whilst addressing the first session of the Constituent Assembly of Pakistan on August 11, 1947, in which he clearly set forth the direction he intended his country to take. For doing good, for being fair, just and equitable, free of bigotry or hypocrisy, and for being scrupulously honest both morally and materially. For stating in his speech broadcast on February 19, 1948 : "The great majority of us are Muslims. We follow the teachings of the Prophet Muhammad. We are members of the brotherhood of Islam in which we are equal in rights, dignity and self-respect. Consequently, we have a special and deep sense of unity. But make no mistake : Pakistan is not a theocracy or anything like it. Islam demands from us the tolerance of other creeds and we welcome in close association with us all those who, of whatever creed, are themselves willing and ready to play their part as true and loyal citizens of Pakistan." Jinnah was the first governor-general of the Dominion of Pakistan and died as such on September 11, 1948. From that day onwards, his successors in office, the presidents and prime ministers that followed, have misgoverned. A few may have to their credit some little good they may mistakenly have done, but it is not that for which they are remembered. As pronounced WS, it is mostly a case of the evil living on and the good being firmly interred. Khwaja Nazimuddin : Governor-general from September 14, 1948, to October 17, 1951, and prime minister from the latter date to April 17, 1953. A gentleman sportsman, he was never in tune with the politicians with whom he worked. Malik Ghulam Mohammed : Jinnah chose him as his finance minister, in which position he remained until intrigue and convenience made him the third governor-general ( October 19, 1951, to October 15, 1955). He is remembered for setting the trend, for dissolving the first constituent assembly of Pakistan in October 1954 with its speaker Maulvi Tamizuddin Khan. Tamizuddin went to the Sindh Chief Court and his petition against dissolution was upheld by its Chief Justice Sir George Constantine. Ghulam Mohammad appealed against this decision to the Chief Justice of Pakistan, Mohammed Munir, and his appeal was accepted in April 1955. *From that moment it became an accepted fact that the law can be read and interpreted as the men in power desire. Ghulam Mohammed fell ill, and was deposed in March 1956. Major General Iskander Mirza : Born November 13, 1899, died November 13, 1969. A good career officer, a well-known political agent of Tank. After partition he served, inter alia, as our defence secretary, minister of the interior, and governor of East Pakistan. When Ghulam Mohammad was deposed, the politicians in power appointed him as their fourth governor-general, in which post he remained from October 16, 1955, to March 22, 1956, on which date he became the first president of Pakistan. On October 27, 1958, (a date that was to be known for some years as Revolution Day, a public holiday) he was deposed by his defence minister, General Mohammad Ayub Khan. He was exiled and sent to London, where he worked for his living and died an honourable man. He is remembered with muted respect as a man to whom injustice was done. Mohammad Ayub Khan : The first martial law administrator of the Republic of Pakistan which he declared himself to be on October 7, 1958, adding to it the title of president on October 27 of that year. He is remembered for being the man under which this country, for his first few years in power, was seen to be truly a developing country - developing in the right direction, economy and industry booming. He is remembered for his innovative system of Basic Democracy, rather a flop, for his decade of development, a misnomer, and for his disastrous 1965 war with India and his speedy decline thereafter, until sick and tired, he handed over power to his army chief on March 25, 1969. Agha Mohammad Yahya Khan : General Agha Mohammad Yahya Khan, 'Rangila Raja', a good soldier but a bad martial law administrator and head of state. He is remembered for having saved the library at the Staff College, Quetta, when an instructor at that institution. He is remembered for holding the only free and fair elections in this country in 1970. He is remembered for allowing himself to be manipulated by Bhutto, and, above all, he is remembered and blamed for having thrown away half the country. He died as he had lived, within his meagre means. An honest man, but exceedingly foolish. Zulfikar Ali Bhutto : The first ever civilian martial law administrator holding conjointly the post of president of the Republic, which dual post he held from December 21, 1971, to August 14, 1973. Unforgettable. Remembered for all the wrong things, for the evil he did, and for being hanged to death. His elder son was murdered during the prime ministership of his elder daughter Benazir, and his younger son died in mysterious circumstances during the presidency of his successor and executor. Chaudhry Fazal Elahi : Appointed August 14, 1973, on the day on which Zulfikar Ali Bhutto promulgated his constitution and converted himself to prime minister of the Republic. An unassuming man, who did nothing memorable, and who allowed himself to be kept a virtual prisoner throughout his presidency. On September 16, 1978, his resignation was accepted by Zulfikar's successor, deposer and executor. Remembered with derision and pity as the man on the walls of whose house was chalked 'Fazal Elahi ko reha karo .' Mohammad Zia-ul-Haq : Zulfikar Ali Bhutto, always afraid of the army, to replace the retiring army chief Tikka Khan in February 1976 chose a junior general, sixth down the line, Zia-ul-Haq. Zia was selected for the subservience he had exhibited whilst a corps commander. The fact that his confidential report declared him to be ambitious and not to be trusted was ignored. In 1977, much to the delight of the people, he deposed Bhutto and took over the country as its third martial law administrator (July 5, 1977, to December 31, 1985), announcing immediately that he would march back to his barracks in 90 days time. In September 1978 he took over the presidency, remaining president of the Republic until blown into the skies on August 17, 1988. He, likewise, is remembered for much wrong, most importantly for the misuse and abuse of religion to keep him in power. His legacy haunts us. Ghulam Ishaq Khan : He took over the presidency on August 17, 1988. He manoeuvred and manipulated elections and the goings and comings of prime ministers until on July 19, 1993 he was forced by his chief of army staff, General Waheed Kakar, to resign, taking with him his contentious prime minister Nawaz Sharif, largely responsible for his downfall. He is remembered for his own strict financial probity but for allowing his sons-in-law to run riot in the corruption field. He is also remembered for his intellectual dishonesty in bargaining with, and bowing to, politicians he himself had booted out and discredited, such as Benazir Bhutto and Asif Zardari, so that he could win for himself a second presidential term. Sardar Farooq Ahmad Khan Leghari : Elected president on November 14, 1993, by his party chief Benazir Bhutto and her men. To the manor born, much was expected of him, his record as a civil servant and a minister being whistle-clean. He, as do all, succumbed to the heat from the seat of power and his good deeds faded into oblivion . He is now remembered for his notorious land deal with the doubly notorious Yunus Habib, for what is known as the Mehran Bank scam, for failing the nation's expectations that he would conduct a process of accountability and clean out the political sewers, and for bargaining with Nawaz Sharif, a man he disliked and distrusted, so that he too could gain a second term as president. Rafiq Ahmad Tarar : Former judge of the Supreme Court, appointed by Nawaz Sharif to the Senate. Remembered for his clandestine trip to Quetta with a briefcase in hand, and for certain questionable judgments delivered during his time on the Bench. When his mentor and master Nawaz Sharif was given the boot on October 12, 1999, rather than putting in his resignation, he chose to remain in occupancy of the Aiwan-e- Sadar, on whose walls we expect any day a slogan to be chalked reading : Tarar ko reha karo. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991119 ------------------------------------------------------------------- Cynicism takes a thrashing ------------------------------------------------------------------- Ayaz Amir I have drunk deep of joy and shall taste no other wine tonight. -Shelley I can scarcely believe it. The clouds have lifted and sunny uplands beckon from afar. And although only the gods can tell whether enough will happen to prolong this mood, while it lasts it is exhilarating. Bliss was it in that dawn to be alive, But to be young was very heaven. As I scan in the papers the mug shot of the Reverend Nawaz Khokhar - formerly a PML(N) grandee, now lately of the PPP (what exalted company our political parties keep) - being led away by an army posse, and as I read the names of the sleek cats caught in the first flush of the army's crackdown on those of the good and the great who have brought the country to its present sorry pass, and indeed down to its very knees, my heart, withered and woebegone till yesterday, cracks with joy even if I do not have Shelley's excuse (methinks a pair of comely arms) for being intoxicated. Play on Vajpayee and to the flourish of fife and drum come out more stoutly in defence of your co-signatory to the Lahore Declaration (whither has that piece of parchment gone?), the sadly incarcerated Mian Nawaz Sharif who slipped while trying to read new meaning into the Leninist concept of the balance of forces. The Muslim League, its wits still befuddled, has yet to catch on to Vajpayee's tune. With friends like the Indian prime minister, Nawaz Sharif will stand in need of no enemies. Consider the transformation worked by a mere 24 hours. Cynicism and despair entrenched so deeply in the Republic. And yet what it takes dissipate their malevolent influence is just a show of unabashed will and sincerity which have been vouchsafed by the dramatic swoop against the first batch of well-heeled conmen who have rooked the nation's finances. Who are amongst the first caught? Two Saigols, a Leghari, a Saifullah, an air marshal (no less) and several others of the same ilk. To ears used to hearing weak porridge being churned in the name of accountability this is thundering music. There is also a list of distinguished absconders, including our shrill princess, Ms Bhutto, and Grand Admiral Mansoor-ul-Haq. Again music to jaded ears. The Grand Admiral was the counterpoint to that civilian admiral, Amer Lodhi, who reportedly swung the famous submarine deal during the time shrill princess was inflicting herself for the second time on the country. When will the veil be lifted on that game of high-class poker? Only the oracles can say. Meanwhile, it will be no small cause for rejoicing if as a result of the latest events we see the last of Ms Bhutto as a political redeemer. If there is one exit this country needs, it is hers. If it's any consolation to her, the greatest beneficiary of this will be her own party which may possibly breathe again if rid of her iron dictatorship. There will of course remain the matter of Ms Bhutto's articles in the press. But after being declared an absconder I think even from those there should be some relief. Is it not a sign of the times that even the Chaudries - of Gujrat, that is - have begun to bleat? Even if I may not want to lay it on too thick as far as they are concerned (since the Chaudries include my former speaker, Ch Pervez Ellahi), it is hard not to notice that when they say, as they said vociferously at a press conference in Islamabad the other day, that they are not defaulters, they want the entire nation to plunge into a bout of amnesia and forget that after the Sharifs they profited the most from the industrial revolution that got going when that commander of the faithful, General Zia-ul-Haq, came to power. If nothing else, their role in the famous cooperatives's scandal of 1991 is enough to condemn them and keep them out of politics forever. It was the huge loans which the Sharifs and Chaudries took (65 crores or thereabouts apiece) which well and truly sunk the cooperatives ship although, and this is a tribute to the majesty and flexibility of the law in Pakistan, His Lordship Justice Lone of the Supreme Court, asked to look into this matter, gave both the Sharifs and the Chaudries a certificate of outstanding probity. Anyway, I bet my last rupee that nothing will happen to the Chaudries. Even in the present set-up they have their defenders who think that they are unjustly maligned and that apart from one or two loans too many, they are basically clean. I should say no more. But to return to the main story. The accountability ordinance just signed by the Sharif's own President (how times change) His Holiness the Pakistani Pope is the law that these past 25 years the people of Pakistan have been crying out for. Comprehensive in its sweep, unambiguous in its meaning, it is the perfect instrument - one, moreover, which puts the onus of proving innocence on the shoulders of the accused - for pursuing the battle against corruption and wrongdoing. Those responsible for drafting this law deserve the nation's thanks. If Mr Sharifuddin Pirzada has had anything to do with it then all is forgiven. Although I doubt very much this would have been the case since Mr Pirzada has made a career out of equivocation while this law is a model of clarity. For all the wrong selections made by the Great Chief in the early stages of excitement, a forgivable lapse considering all the things crowding in on his mind (although that still does not stop me from wondering how Akbar Ahmed has made it to London and the Boy Sarfraz, you have to see him to believe me, into the cabinet), the Chief has redeemed himself by picking Lt Gen Amjad Hussain as the Chairman of the National Accountability Bureau (NAB). Amjad is a Gallian (alumnus of Lawrence College) in the same way that Lt-Gen Mahmud Ahmed, formerly of 10 Corps and now ISI, and Sahibzada Imtiaz of the NSC are. What is more, he scored well in his Senior Cambridge exams, scarcely a trifling matter since at that time Lawrence College was more known for producing (how gingerly can I put this?) dunces than scholars. Being a year senior to me in college I say this from personal knowledge that a cleaner and more suitable man for this sensitive position could not have been chosen. If anyone can make NAB work it is Gen Amjad and if he falters or fails, or even if the pace of his offensive slackens, General Musharraf can say goodbye to the public goodwill that still remains strong for his coup - sorry, counter- coup - and all its works. There should be no mistake about this: as far as the public perception is concerned, more rests on accountability than any of the other items in the Chief's agenda. That is why it is important not to be distracted by cries that the drive just started to nab defaulting and crooked fat cats will ruin business confidence and trigger a flight of capital out of the country. No heed should be paid to these feeble-minded reservations for what is at stake is not the confidence of the business community but the last remaining shreds and tatters of the nation's faith in itself and its ability to pull itself out of the swamp in which it is caught. Nothing has done so much to revive the nation's hopes as the arrest of big-name defaulters. Nothing will more cruelly shatter these hopes than if this drive fails or comes to a premature end. The money recovered in this drive is not important. A 100 or 200 billion rupees will not make this country sink or swim. What was important was to send a message, not so much to defaulters as to ordinary people, that at long last those guilty of pillaging the country were being called to account. The message therefore is ultimately political and not simply financial and that should be kept in mind even as the cacophony rises that the rule of law should be respected. It should indeed, but for once in 52 years let the rule of law work against and not, as it always has, in favour of the nation's plundering oligarchy. March on in this fashion Great Chief and troops of angels will speed you on your way. Falter or make exceptions and may then purgatory be your reward. Tailpiece: Good Punjab cabinet for which Governor Safdar deserves all praise. Compared to the other provinces it clearly stands out. But then from a son of Chakwal - General Safdar being from Dulmial in the Choa Saidan Shah hills - I would have expected no less. I am particularly glad for my friend Chaudry Shafqat Mahmood whose cries (audible to the initiated in his recent columns) that he was available to serve the people have been given the notice they deserved. Seriously though, his presence should bring intelligence and depth to cabinet discussions as should the voice of my friend, Shahid Kardar. A word in the Governor's ear, however: making haste slowly is all right but when is he going to turn his attention to the rot in the districts? As long as the symbols of that rot remain, and he need go no further than his own district in this regard, no amount of monitoring mechanism is going to make a difference.
=================================================================== SPORTS 991120 ------------------------------------------------------------------- Saqlain spins Pakistan back in game with Test-best 6/46 ------------------------------------------------------------------- HOBART, Nov 19: Saqlain Mushtaq mesmerised Australia's batsmen with his assortment of biting off-spin, top-spin and leg-breaks to take career Test best 6-46 as Pakistan swung the second cricket Test at Bellerive Oval here on Friday. Spearing in his off-spinners, sometimes above 100 kilometres (60 miles) an hour and flicking in the occasional leg-breaks to the right-handers, Saqlain swung the match after Australia had looked set to bat their way to the three-Test series on the back of another domineering Michael Slater innings. Pakistan quickly erased the 24-run first innings deficit to reach 61-1 by stumps for an overall lead of 37 with nine second innings wickets in hand. Saeed Anwar, who clouted Shane Warne's first ball for six, was not out 36, with nightwatchman Saqlain yet to score. First innings top-scorer Mohammad Wasim was caught by McGrath off Scott Muller for 20 after putting on 50 for the first wicket. Needing to win here after being hammered by 10 wickets in the opening Test at Brisbane, Pakistan appeared down and out when Australia were high-tailing at 191 for one, with Slater poised for his 14th Test century. But Slater was out in the 90s for the seventh time in Tests when he was deceived by the flight of a Saqlain delivery and dollied a catch to Ijaz Ahmed for 97 precipitating a stunning batting collapse - nine wickets for 55. Within 101 minutes and 20.2 overs the number one Test nation's batting was shredded firstly by a bewildering spell with the old ball by Waqar Younis, who removed Mark Waugh (5) and Ricky Ponting for a second successive duck in the series, before Saqlain proved unplayable after tea. ALMOST A HAT TRICK: In four overs, Saqlain snared 4-6 and narrowly missed a hat trick in his 22nd over when he had Adam Gilchrist (7) stumped and bemused Shane Warne bowled first ball by a leg-break before a touch-and-go stumping decision next ball on Damien Fleming was turned down by the video umpire Steve Davis. But Saqlain claimed Fleming with a quicker delivery on the last ball of that over, trapping him lbw as Australia tottered to 236 for eight. He then finished off the Australian innings when Glenn McGrath played forward and was caught short of his ground as Moin whipped off the bails to effect his 100th dismissal in 49 Tests. Saqlain's previous pinnacle Test bowling performance was 5-32 in the first innings of the Lahore Test against Zimbabwe last December. He has now taken five wickets in an innings nine times, but this was his first against Australia. "I was bowling for a long time, but I was positive and focused on my target," said Saqlain, who now has taken 103 wickets in his 23rd Test match. Saqlain, who in the process became the 10th Pakistani to claim 100 or more wickets, perfected his leg-break from his teenage days, playing cricket on the streets of Lahore with his cousins and friends. Saqlain said his most enjoyable moment was claiming Warne's scalp with his mystery ball, or "doosra" in Urdu, the same delivery that he has used to dismiss Sachin Tendulkar three times. "I really enjoyed that one," Saqlain said.-AFP/Reuters DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991120 ------------------------------------------------------------------- Saqlain, Waqar find their rhythm to send Aussies reeling ------------------------------------------------------------------- A. Jalil HOBART, Nov 19: There is a final drop of venom that transforms a good bowler into a great one. Saqlain Mushtaq's bowling has contained that deadly ingredient long enough to put him in that category. His remarkable figures today simply provided further evidence of his stature. It was the virtuoso bowling and tenacity of Pakistan that came to the fore, halfway through the second day's play. Having taken much flak for their batting and again for their work in the field, they battled hard just when this Test and, indeed, the series was perilously close to slipping away. Australia were comfortably placed with their opening batsmen setting them off with a flying start of 76 and when that was extended to 191 for the loss of just one wicket, it looked most ominous for Pakistan with their meagre first innings total. It would appear that a lunch time pep talk spurred them on, not only to some controlled bowling but in the field as well, for they had dropped Michael Slater earlier on 36 when there was a chance of a running catch at back-ward square-leg and again on 68 at point. He had, nevertheless, batted beautifully and his drives of the back foot were a delight to watch. He had been severe on Waqar Younis in the first session of play when 30 runs came off seven over with the last over going for 12. But not long after lunch Waqar began to give glimpses of his former self when he was the spearhead of the Pakistan attack. Meanwhile, Slater had progressed to 97 when he was dropped again, this time by Wasim Akram at slip. It was a low but simple enough chance off Saqlain. The Pakistan captain was, however, relieved that without further addition to Slater's score, Saqlain struck his first blow. It was the seventh time the Australian was dismissed in the 90s in Tests. Thereafter, the combined pace and spin attack of Pakistan proved to be so potent. Waqar trapped Mark Waugh leg before wicket and on the same score of 206 Saqlain got a bat/pad decision against Justin Langer. The batsman had, however, in reaching a half-century, probably ensured his place for the next Test on his home ground in Perth. He was the only batsman in the Australian team who was in need of runs to hold his place. Pakistan bowlers had now taken control and Waqar struck once again. He produced an absolute beauty which came in late to slip of Ricky Ponting's off-stump. Waqar had found his rhythm and consequently his speed and ball movement. In his previous over, he beat Steve Waugh with one that moved the other way and the Australian captain survived a close call for leg before wicket. Australia's innings had taken a battering with Waqar and Saqlain claiming two wickets each but the dramatic end of the innings was kept for the final session of the day. His renowned 'mystery ball' which drifts away from the right-handed batsman, although bowled with the off-spinners action, mesmerized three of his four victims of that session. DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991118 ------------------------------------------------------------------- Pakistan, India, South Korea gun for World Cup spot ------------------------------------------------------------------- KUALA LUMPUR, Nov 17: Asia's top three hockey powers, Pakistan, South Korea and India will be pulling no punches when the 5th Asia Cup gets underway here on Thursday. The winner of the tournament automatically qualifies for the 2002 World Cup and all three countries have brought virtually full strength squads to Kuala Lumpur in a bid to secure an early berth for the tournament, which is also to be held in the Malaysian capital. India have an added incentive to add an Asia Cup title to the Asian Games title they won in Bangkok last year, having never won the event. Pakistan, who won the first three, and holders South Korea, have generally held the upper hand over India in the last decade. But the Indians, who have have booked their place in the 2000 Sydney Olympics by virtue of its Asian Games gold, may find it difficult to replicate their tournament-winning form of last year, when they beat South Korea in the final in Bangkok. None of the other participants in the nine-nation tournament - China, Bangladesh, Sri Lanka, Japan, Hong Kong and hosts Malaysia - are expected to threaten the ruling triumvirate of Asian hockey. Kazakhstan was an eleventh hour withdrawal from the tournament, leaving Group B with only four teams - India, Japan, Hong Kong and Malaysia. Defending champions South Korea, Pakistan, China, Bangladesh and Sri Lanka comprise Group A, on paper the tougher of the two groups. Korea and Pakistan are expected to emerge the top two teams in Group A while India and Japan, who play each other in the opening match on Thursday, should share the equivalent places in Group B. The crossover semi-finals on Nov 26 are expected to see the same contenders but in different pairings than at last December's Asian Games when Korea eliminated Pakistan and India defeated Japan. Hosts Malaysia, a formidable opponent when enjoying home ground advantage but brittle even at the best of times, are not expected to unduly threaten India's and Japan's progress to the semi-finals from Group B. The final is scheduled for Nov 28.-AFP DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS*DWS 991117 ------------------------------------------------------------------- Jansher not in main draw of British Open ------------------------------------------------------------------- ABERDEEN (Scotland), Nov 16: Jansher Khan, winner of the World Open a record eight times and of the British Open six times, did not feature in the draw made here Tuesday, for a British Open for the first time in 13 years. The absence from the world's longest-established tournament of arguably the most complete player of all time suggests that Jansher is unlikely to be a serious contender again for the big titles. Despite knee problems and other injuries which have limited the 30- year-old Pakstani to only occasional appearances, he has often still claimed during 1999 that he has the capacity to return for significant challenges on big occasions. But Jansher's decision not to compete here next month (December 6- 12) follows his absence from the World Open at the Giza pyramids two months ago. The last time Jansher competed in a major was when he lost to in the final of the British Open to Scotland's Peter Nicol at Birmingham 19 months ago. "The Squash Rackets Association wanted to give Jansher a wild card. But when it became clear he would not accept it, it was given to England's former world number two Peter Marshall instead," said British Open organiser Alan Thatcher, who also made an appeal to the world's number one woman, Michelle Martin. The Australian quit squash rather suddenly after losing last month's World Open final in Seattle to England's Cassie Campion, and Martin has resisted attempts to persuade her to change her mind, saying she no longer has the motivation. This means the 32-year-old will not defend the British Open title she has won six times in a row, and that Campion, formerly Jackman, becomes the first English player for 15 years to be the top seed, with the New Zealander Leilani Joyce her nearest rival. The British Open's entry list does show one piece of good news. Another Aussie, the three-times former world champion Sarah Fitz- Gerald, will make her international comeback during the tournament after seven months out of the limelight with a knee injury. However, the second-seeded Nicol, who is playing in his home city where he may have overwhelming support, will be unofficial favourite for the British Open title, despite a probable quarter- final against the controversial Australian Anthony Hill.-AFP ------------------------------------------------------------------- You can subscribe to DWS by sending an email to <subscribe.dws@dawn.com>, with the following text in the BODY of your message: subscribe dws To unsubscribe, send an email to <unsubscribe.dws@dawn.com>, with the following in the BODY of you message: unsubscribe dws ------------------------------------------------------------------- Back to the top.
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