------------------------------------------------------------------- DAWN WIRE SERVICE ------------------------------------------------------------------- Week Ending : 24 July 1999 Issue : 05/30 -------------------------------------------------------------------
Contents | National News | Business & Economy | Editorials & Features | Sports
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CONTENTS ===================================================================
NATIONAL NEWS + EU presses for Indo-Pakistan dialogue + Vajpayee demands 'trust' for talks + Talks with Saudi leaders satisfactory, says Nawaz + Kashmir crisis: Pakistan graples with economic fallout + NA approves law against dumping + US no more to pursue balanced policy + Govt not willing to implement old law in Sindh + Income tax payable by salaried persons + Army chief misquoted, say foreign office, ISPR + NA told: Judicial body in MQM man's killing formed + Pakistani exports to US west coast up --------------------------------- BUSINESS & ECONOMY + One out of 32 banks holding back approval + IMF talks cover vital financial aspects + Credit plan 1999-2000 after IMF talks + Petroleum prices to be raised by 15% + Greenback slips in inter-bank market + Disparity in Wapda, KESC rates to end + Business awaits parity in KESC, WAPDA rates + Ghous asked to improve law & order: minister + $1bn rice export target to be achieved: Laleka + Stocks maintain firm outlook --------------------------------------- EDITORIALS & FEATURES + End-game? Ardeshir Cowasjee + For this submission what gain? Ayaz Amir + Survival of the fittest Irfan Husain ----------- SPORTS + New manager and coach to be announced shortly: Mujeeb + PCB offices remain shut + Farhan to play in Asian snooker tour play-off

EU presses for Indo-Pakistan dialogue 

HELSINKI, July 23: The European Union said on Friday it would put 
pressure on both India and Pakistan to find a solution to their 52-
year-old Kashmir dispute.

"The EU is happy that the (recent) violence in Kashmir has stopped 
and we encourage both sides to sit down and settle their disputes," 
Finnish Foreign Minister Tarja Halonen told a press conference 
after talks with Pakistani counterpart Sartaj Aziz.

Finland currently holds the union's rotating six-month presidency. 
Aziz is in Europe to seek diplomatic support to force India to push 
ahead with serious talks on Kashmir.

When asked if the EU agreed with Pakistan that international 
pressure was needed to bring India to the negotiating table, 
Halonen said: "We will put pressure on both sides."

Aziz said he felt he had received a sympathetic hearing from 
Halonen. He is next scheduled to fly to London to meet with Foreign 
Secretary Robin Cook.

"We are ready to follow a bilateral dialogue... but we would like 
the international community to follow it and to put pressure on 
India to not have dialogue for dialogue's sake," he said.

SARTAJ MEETS PRESIDENT: Foreign Minister Sartaj Aziz called for 
international efforts to help resolve Kashmir dispute.

He said this during his hour long meeting with President of Finland 
Mr Marti Ahtisari on Friday in Nantali near Helsinki.

The foreign minister and Finnish president discussed the Kashmir 
problem in detail with special reference to recent developments in 

Mr Sartaj Aziz expressed the hope that now Kargil situation has 
been de-escalated, the world community would put pressure on India 
to start a meaningful dialogue with Pakistan to find a lasting and 
durable solution to Kashmir problem. He told the Finnish President 
that after the nuclearisation of South Asia the dispute over 
Kashmir will no longer be a regional issue and will impinge on 
international peace and security.

President Ahtisari appreciated measures taken by Prime Minister 
Nawaz Sharif to defuse the crisis and expressed the hope that both 
Pakistan and India will restart the Lahore peace process.

Finnish President also raised the Afghanistan issue and Foreign 
Minister briefed him on the current situation with special 
reference to recent meeting of Six plus Two group on Afghanistan in 

He stressed that it was for the first time that the Taliban had 
attended such a meeting. The foreign minister hoped that world 
community will continue to provide economic and humanitarian 
assistance to the people of Afghanistan. -Reuters/APP

Vajpayee demands 'trust' for talks

NEW DELHI, July 23: Indian Prime Minister Atal Behari Vajpayee on 
Friday said talks with Pakistan could only resume after Islamabad 
"created an atmosphere of trust," the Press Trust of India 

"The talks can be resumed only after they (Pakistan) create an 
atmosphere of trust," he told reporters here.

Vajpayee did not go into specifics but said Pakistan had to take 
"several steps" to gain New Delhi's confidence following the 10-
week long battle between Indian troops and Mujahideen who had 
occupied positions in the divided state of Kashmir.

The prime minister also dismissed opposition criticism that his 
government had failed to check the Pakistani intrusion in time due 
to an intelligence failure.

"There was no intelligence failure and if necessary, inquiry will 
be held taking into account others' perceptions," he said.-AFP

Talks with Saudi leaders satisfactory, says Nawaz

JEDDAH, July 19: Prime Minister Nawaz Sharif on Monday expressed 
his satisfaction over his talks with Saudi leadership and called 
for further intensification of consultations between the two 
friendly countries.

Nawaz Sharif on Monday held talks with Saudi Defence Minister 
Shahzada Sultan bin Abdul Aziz on bilateral issues and 
international issues.

"And of course the time-tested friendship that we have between the 
two countries demand that we intensify these consultations," the 
Prime Minister told a Saudi TV channel. Pak-Saudi Arabian 
friendship, he said, has always stood the test of time.

Nawaz Sharif said: "so we always sought the advice of our brothers 
and that's what we are here for this time also. So Saudi Arabia's 
role to resolve the present crisis has been a very meaningful 
role." He said two sides," have remained in touch with each other 
and we are in perfect agreement on the steps that have been taken 
to resolve the crisis."

"It is a great privilege to consult our brothers and friends here 
in Saudi Arabia. We consider this as a personal privilege also and 
this has been the tradition for the last so many decades", he said.

Saudi defence minister said he had held discussion with Nawaz 
Sharif on important issues, adding, Saudi Arabia fully backs 
Pakistan on the issue of Kashmir.

UMRA PERFORMED: The prime minister along with the members of his 
entourage performed Umra late on Sunday evening.

Among others, Chief of Army Staff General Pervez Musharaff, federal 
ministers Sartaj Aziz, Raja Zafarul Haque, Chaudhry Nisar Ali Khan, 
Sheikh Rashid Ahmed and Majeed Malik as well as advisers to the 
prime minister Syed Ghous Ali Shah and Pir Sabir Shah, Balochistan 
PML president Fazal Agha, Sardar Abdul Qayyum Khan, chief of Jammu 
and Kashmir Muslim Conference, defence secretary Iftikhar Ali Khan 
performed the Umra.

Begum Kulsoom Nawaz, the first lady, and Hussain Nawaz, son of the 
prime minister, were also among those performing Umra.

The prime minister and the delegation is staying in 'Qasr-i- 

He is scheduled to leave here for Jeddah on Tuesday forenoon on his 
way to Madina-i-Munawwara and return to Pakistan in the evening of 

Kashmir crisis: Pakistan graples with economic fallout

KARACHI, July 20: Pakistan's fragile economy has suffered 
considerable damage from the two-month conflict with India over 
Kashmir which broke out just when it had started showing signs of a 
recovery, business sources said on Tuesday.

Businessmen said the crisis which triggered fears of an all-out war 
between the arch foes hit the stock market, discouraged investors 
and put the brakes on trade.

The crisis was defused by Prime Minister Nawaz Sharif's decision to 
call back Islamic fighters from the Indian side of the disputed 
Himalayan region.

Business sources said a major factor behind Sharif's move was the 

Heavily dependent on foreign loans, the economy could hardly have 
sustained any further escalation in the conflict.

Pakistan's economy posted a low 3.1 per cent growth rate in the 
fiscal year to June 30 against a target of 5.0 per cent due to 
international sanctions slapped over nuclear detonations by the 
country in May 1998.

The Kashmir crisis erupted early May as Pakistan had just started 
recovering from the telling impact of the sanctions after 
international lending agencies and donor countries resumed 
assistance to Islamabad.

The government took the right decision to de-escalate the crisis, 
otherwise the country was headed toward an economic collpase, 
industrialist Majid Aziz said.

Prominent stock broker Arif Habib said the fear of war had 
triggered flight of capital and panic selling in the capital 

He said demand for the dollar weakened the local rupee 5.76 per 
cent in the open market and caused share prices on the main Karachi 
Stock Exchange (KSE) to drop 26.55 per cent in one month after the 
fighting in Kashmir started.

The KSE Index plummeted 376.21 points falling from 1,416.62 on May 
24 to 1,040.41 on June 15.

Now the rupee has gained and KSE-100 Index also recovered by more 
than 116.26 points or 11.17 per cent after Pakistan and India 
agreed to disengagement in Kashmir on July 10, Habib said.

A dealer said the investors lost more than $1.6 billion in market 
capitalization during the duration of the crisis.

Majyd Aziz, a prominent industrialist, said business transactions 
had been held up as war fears gripped the country. He said his own 
garment manufcating industry had been severely hit.

Had the tensions continued, the economic situation will have 
further worsened, Aziz said.

He said neither Pakistan nor India could afford a war as both 
needed to cut down their heavy defence expenditure to divert 
resources to develop their economies and provide basic amenities to 
their people.

Javed Muslim, president of the Karachi Chamber of Commerce and 
Industry (KCCI), said Pakistan badly needed political and ecoomic 

When borders are secured, business is secured, he said, adding that 
millions of dollars fled from the Pakistani stock market during the 
two-month crisis period.

Let us give diplomacy another chance as proposed by Sharif to the 
Indian leadership and forget about war to settle mutual disputes, 
Habib said.

I think Sharif has choosen the right path that goes towards 
stability, development and prosperity of the region, he said.-AFP

NA approves law against dumping

ISLAMABAD, July 22: The National Assembly on Thursday passed the 
Anti-Dumping and Countervailing Duties Bill, 1998 to discourage 
dumping of goods in Pakistan and bring the legislation in 
conformity with the World Trade Organisation (WTO) agreement.

The bill was moved by Parliamentary Secretary for Finance Sardar 
Kamil Umar for consideration.

The bill was put to voice vote and also to the division twice on 
the insistence of the opposition. The division results showed 61 to 
nil votes the first time and 51 to nil votes the second time. The 
bill was discussed clause-by-clause and was finally passed by the 

Before its adoption during the third reading, three opposition and 
independent MNAs, namely Kunwar Khalid Yunus, Qaisar Sheikh and Dr 
Fehmida Mirza, made critical speeches.

In his address, independent MNA Qaisar Sheikh said that it was for 
the first time that such a bill had been moved in our Parliament. 
He said that the bill was sourly needed. He regretted that the 
commission had no wide powers while the powers of the bureaucracy 
had been enhanced.

He said that the bill had not formulated a mechanism whereby we 
could know how the goods from outside the country were being dumped 
into Pakistan.

Kunwar Khalid Yunus said that the anti-dumping laws were made the 
world over keeping in view the interests of respective countries' 
industrial concerns and also to promote the climate for investment. 
He called for the need for making our own laws liberal with a view 
to attracting foreign investment.

Dr Fehmida Mirza, in her criticism of the Anti-Dumping Bill, said 
that the main need of the hour was to set up independent 
institutions. She lauded the framing of the bill but she regretted 
that under the bill, the commission had been limited under the 
finance minister and his powers had been increased. She stressed 
the need for making the commission more independent.

The Anti-Dumping and Countervailing Duties Bill, 1998, contains 42 
clauses. The bill provides that anti-dumping arises when imports 
are made at prices lower than the producer's cost, or the sale 
price in the home country or price at which like or similar product 
is sold by that producer in a third country.

Imports at "dumping" prices compete unfairly with domestic industry 
which produces similar goods and can cause reduced sales, hence 
losses and even permanent damage, i.e. closure.

Under the bill, subsidy is a financial contribution or any other 
form of support provided by the government of the country of origin 
or export or a public body to the enterprises engaged in export 
business. Both dumping and subsidisation are unfair trade practices 
as they hamper fair competition and cause injury to local industry. 
Countries naturally legislate measures to protect domestic industry 
from dumping.

The salient features of the bill are: To check (and place effective 
measures against), dumping and subsidisation of foreign goods being 
imported into Pakistan so that no material injury is caused to 
domestic industry.2. To specify investigation procedures to 
determine and propose the amount of anti-dumping or countervailing 
duties as per guidelines contained in relevant WTO agreements.3. To 
authorise the federal government to implement the anti-dumping and 
countervailing measures recommended by the National Tariff 
Commission; 4. Procedures for public hearing, review, appeal, and 
refund have also been provided.5. Definitions and expressions used 
in the text of the draft produced will comprehensively cover terms 
such as commission, country of export, country of origin, 
comparison, dumping, dumping margin, export price, injury, like 
goods, normal value, domestic industry, subsidy, tribunal, etc; and 
6. A right of appeal to aggrieved parties has been provided in the 
spirit of WTO dispute settlement mechanism.

US no more to pursue balanced policy

WASHINGTON, July 22: A senior US official has clearly stated that 
the days of "even-handedness and balance" in US policy towards 
India and Pakistan are now over, signalling a major shift in how 
Washington would deal with the two countries in future.

"In the past there have been attempts to impose intellectual 
constructs such as balance or even-handedness on American foreign 
policy towards India and Pakistan... Those days are over, if indeed 
they ever existed," State Department's Senior Adviser for South 
Asia Mathew Daley, told the Indian-American Friendship Council here 
last on Tuesday.

No Pakistani correspondents were invited for the Daley speech which 
was reported in detail by Indian newspapers. His well studied 
comments were the loudest and the clearest indication of the 
direction the US policy would take in the coming months and years, 
especially after Kargil internationalised the Kashmir situation to 
Pakistan's detriment.

Daley said America's relations with India and Pakistan were going 
to have their own separate vectors, trajectories and velocities. 
"At any given moment, on any given topic, we might appear to be 
even-handed, but that will be an incidental outcome of a policy, 
not the objective of a policy," he said.

The Indo-US relationship is at the crossroads and much will depend 
on what will happen in the coming months, Daley said, arguing that 
the administration's objective was not only to return to the status 
quo ante of May 1998 but also one that established a qualitatively 
different kind of relationship.

Daley, who will accompany Secretary of State Madeleine Albright to 
Singapore for meeting Indian Foreign Minister Jaswant Singh said 
the dialogue that had been conducted by Mr. Singh and the Deputy 
Secretary of State, Mr Strobe Talbott, "stands out in the history 
of bilateral relations as the most comprehensive and the most 
intensive exchange of its type."

"I doubt if there has been a period of time when there was greater 
appreciation and even sympathy for each other's views," he said 
elaborating on the prospects of future Indo-US relations.

"China remains an important factor in the Indian strategic 
calculus. It is not easy for India to sort out all of this, and 
this is a process that is going to be high on the agenda of the new 
government. Coming to a new strategic consensus in India is going 
to be a significant challenge," Mr Daley remarked.

There are many converging interests between India and the US, Daley 
said, singling out the maintenance free sea lanes. "I would put 
forth as a matter of faith that India is going to adopt a deepening 
and broadening of economic policy reform. Once it does so, its 
stake in international commerce is going to grow and grow 
dramatically. And as that happens, India's stake in seeing that the 
sea lanes are kept free and open is going to rise rather 

On Kargil and in the shaping of American policy, he said that as 
India and Pakistan had become overtly nuclear weapons states, they 
had accepted the unwritten obligation to follow different rules of 

Govt not willing to implement old law in Sindh
Sarfaraz Ahmed

KARACHI, July 22: The government is reluctant to issue an 
administrative order on the setting up of a metropolitan police 
despite the fact that a bill adopted by the Sindh Legislative 
Assembly in 1948 awaits the formal issuance of a notification 
specifying the date on which the 1948 Act will come into force.

According to highly-reliable sources, the government has been 
postponing a decision on the notification due to resistance by some 
key bureaucrats in federal and provincial setups.

The sources said once the City Police Act, 1948, became effective, 
it would be far easier to amend it through an ordinance, to meet 
the contemporary requirements as deemed fit.

These amendments could include a new chapter on the role and 
functions of the proposed Karachi Metropolitan Public Safety 
Commission and a new chapter on community participation through 
institutional means, the sources concluded.

The bureaucrats had been opposing the introduction of a police 
system in which district magistrate was denied any role, the 
sources said, adding that the City Police Act, 1948, for Karachi 
had not made district magistrate redundant or subservient to a 
police commissioner.

According to official documents, minister-in-charge M. A. Khuhro, 
while introducing the bill for the establishment of city police on 
February 7, 1948, had told the Sindh Legislative Assembly that 
police commissioner would have no control over the magistrates.

"There is slight departure [from the Bombay Act]. They will remain 
under the district magistrate because we are not doing away with 
the district magistrate. Also he [police commissioner] will not 
have the powers of a magistrate," Mr Khuhro said in reply to a 
question by a member of the assembly, Holaram H. Keswani. Mr 
Keswani had wanted to know whether there was any departure in the 
City Police Act from the Bombay Act.

The Sindh Legislative Assembly on February 7, 1948, adopted a bill 
on the city police force for Karachi. The City of Karachi Police 
Act had been published in the Sind Government Gazette of January 
30, 1948, under rule 144 of the Sindh Legislative Assembly Rules.

Inquiries based on official documents show that the Approved Bill 
No XXV of 1948 was returned by the Quaid-i-Azam's office apparently 
for carrying out of some "minor" corrections that the legal adviser 
to the Governor-General had pointed out, on the authenticated copy 
of the bill duly forwarded by the Sindh governor on March 15, 1948.

A letter from the office of the private secretary to the Quaid-i-
Azam, S. M. Yusuf, to the personal secretary to the Sindh governor, 
J. Cordiero, dated March 12, 1948, said:

"Bill No. XXV of 1948 is returned herewith, as desired. 
Unfortunately the Legal Adviser to the Governor-General has made 
certain corrections in the authenticated copy of the Bill signed by 
the Speaker and bearing the forwarding note of His Excellency the 
Governor of Sind. A fresh copy will, therefore, have to be 
submitted for the Governor General's orders."

It is not clear what transpired after that as the notification in 
the Official Gazette, under Section 1 (4) of the Act, which was 
essential to bring it into force was presumably left pending.

Income tax payable by salaried persons

ISLAMABAD, July 21: Central Board of Revenue has explained the 
income tax payment method for the salaried persons for the 
assessment year 1998-1999, assessment year 1999-2000.

A circular No 7/99, dated July 17, 1999, says that the deduction of 
tax in respect of income for 1999-2000, the assessment year would 
be 2000-2001. The circular explains the computation methods as 

Through the Finance Act, 1999, two additional tax-rate slabs of 25 
per cent and 30 per cent in respect of salaried persons earning 
income exceeding Rs500,000 and Rs700,000, respectively, have been 
provided in addition to the existing four rate slabs of 5 per cent, 
10 per cent, 15 per cent and 20 per cent.

The 10 per cent surcharge on salary has also been withdrawn and it 
would not be chargeable for the assessment year 1999-2000. First 
Schedule to the Income Tax Ordinance has also been amended to 
rationalize taxation of perquisites. From Assessment Year 2000-
20001, perquisites would not be taxable as a separate block of 
income and would be taxable at the rates given in paragraph A of 
Part-1 of the First Schedule.

However, for the purposes of deduction of tax under section 50 (1), 
these tax rates shall be effective from July 1, 1999. As the 
assessments for Assessment Year 1999-2000 are concerned, the 
perquisites would be taxable as a separate block at the rates given 
in clause (h) of proviso to paragraph A of the First Schedule.

The existing system of taxation of perquisites in cases where the 
salary (inclusive of allowances and perquisites) does not exceed 
Rs300,000, shall continue.

The following example illustrates the computation of tax deductible 
under section 50 (1) where salary (inclusive of allowances and 
perquisites) exceeds Rs300,000, for the income year 1999-2000 (July 
1, 1999 to June 30, 2000):

If the pay of the person is Rs500,000, value of perquisites 
Rs350,000, total income is Rs850,000, the computation of tax would 
be as follows: tax at first Rs700,000 (Rs120,000); tax on next 
Rs150,000 (Rs45,000); total tax (Rs165,000); minus less basic 
credit (Rs2500); tax payable under section 50 (1) deductible from 
salary during income year 1-7-99 to 30-6-2000 would be (Rs162,000).

Note: Dividend income, profit or interest on bank deposits, bonds, 
certificates and debentures etc are taxable as a separate block of 
income. Basic tax credit in the case of working women is Rs3000 and 
the computation of tax would change accordingly.

Army chief misquoted, say foreign office, ISPR
Bureau Report

ISLAMABAD, July 17: The activity of the Pakistani army has been on 
the LoC in defensive positions against Indian attacks during the 
Kargil crisis, foreign office spokesman Tariq Altaf told a news 
briefing here on Saturday while clarifying what he called 
misleading interpretation of Chief of Army Staff General Pervez 
Musharaaf's remarks which he had made in an interview to the BBC on 

The spokesman distributed among the journalists the text of the 
interview and also the text of the BBC broadcast and highlighted 
the relevant portions from these texts to establish that at no 
point did the COAS admit that Pakistani troops had been operating 
in the areas under the control of Mujahideen on the Indian side of 
the LoC.

According to the text of the interview the COAS while answering a 
question had said: " Other than occasional patrolling that has 
taken place because of offensive action by the Indians, very 
offensive shelling, aircraft activity, aircraft bombing across the 
LoC and also attacks and actions on the LoC, that is what got us 
involved on the LoC and there was definitely within this issue of 
activity on the LoC, aggressive patrolling done by our troops and 
that took them across to make sure that we had our eyes and ears 
open before any action takes place on the LoC."

DG ISPR Brigadier Rashed Qureshi while giving his explanation said 
that the Indian army using the cover of the fighting going on 
between them and the Mujahideen in Mashkoh, Kaksar and Kargil had 
started shelling and attacking the LoC in order to capture some 
advantageous locations.

It was to repulse these activities of the Indian army that the 
Pakistani army had conducted aggressive patrolling on the LoC which 
according to him was not delineated on the ground all the way, he 

The LoC is based on posts and the area between each post spread 
over 2-4 kilometres is unmarked and neither the Indians nor the 
Pakistanis would know if they had crossed the LoC while conducting 
aggressive patrolling in these areas, he further said.

The COAS in his BBC interview while explaining the ambiguity of the 
LoC on the ground had said:" Yes, I don't think there should be a 
confusion on the way the LoC has been demarcated. Although, the 
demarcation of the LoC in the Simla Agreement is based on points. 
There is a bearing and distance from that point and you go another 
20 to 30 Kms where you reach another point and another bearing and 
distance and you reach another point. So these points are quite 
clear because of the coordinates. However, the area between these 
points being 20 to 30 KMs is the obviously the area ...which can 
create a little bit of doubt. However, I think we can negotiate and 
...see where the LoC is."

According to Brigadier Qureshi the Indian army had wanted to 
capture some of the strategic locations on the LoC like the height 
at 18400 in order to be able to see into the Northern Area 
territory and prevent Pakistan from observation of the Drass- 
Kaksar-Kargil road.

"That was the aim which seemed to be wedded into their designs from 
day one," said the brigadier.

He said all such attempts at intrusion across the LoC by the Indian 
army were repulsed and the Indian troops shot at by Pakistani 
troops conducting aggressive patrolling on the LoC.

He once again clarified that no withdrawal of Pakistani troops or 
the Mujahideen was taking place. "Actually the Indian troops were 
engaged in the task of disengaging from the Mujahideen. They have 
stopped artillery fire and the Mujahideen are dispersing," he 

He said he did not know where the Mujahideen were dispersing to and 
said he was on the LoC on Friday and looked across with his 
binoculars and saw no one coming towards the Pakistani LoC and 
heard no shelling by the Indian artillery.

Earlier Tariq Altaf while clarifying the remarks of the COAS about 
the so called debate over whether the Prime Minister had been kept 
informed said General Musharaaf had actually meant that the PM had 
been kept informed about Pakistan army's defensive actions on the 

When asked the COAS had told the BBC interviewer that: "Everyone 
has been on board. This is the kind of disinformation going on all 
around and disinformation, which is trying to create dissension between
military and the government. Everyone has been on board."

NA told: Judicial body in MQM man's killing formed

ISLAMABAD, July 21: The parliamentary secretary, interior, Safdar 
Rehman, told the National Assembly on Wednesday that the Sindh 
government had formed a judicial committee headed by a magistrate 
to inquire into the circumstances that led to the death of an ice-
seller, Shahid.

He categorically said that the man was not deliberately killed.

To a call attention notice moved by five opposition MNAs about the 
extrajudicial murder of an MQM office-bearer, Mohammad Shahid, by 
the Karachi police, Mr Rehman said that Shahid had been killed in 
the crossfire between the culprits and the police.

The MNAs who moved the notice were: Kunwar Khalid Yunus, Syed 
Khurshid Ahmed, Asfandyar Wali Khan, Shabbir Ahmed Khan Chandio and 
Shakeel Ahmed Chandio.

Giving details, the parliamentary secretary said that after 
obtaining information that the culprits had gathered at a place, 
the police reached there. The armed culprits opened fire at the 
police and when the police returned fire, the culprits escaped into 
the lanes. At 2-30am, he continued, the body of one culprit was 
found in a lane which was identified as that of ice-seller Shahid.

Mr Rehman said that the deceased was a proclaimed offender and was 
already nominated in six FIRs. He further said that a judicial 
inquiry had already been formed to investigate the incident.

Several MNAs, including those from the ANP and PPP, asked questions 
on the matter.

Mr Rehman assured the house that if any policeman was found 
involved in the killing of Shahid in an extrajudicial manner, he 
would be duly proceeded against under the law.

Asked by an opposition MNA if the government was prepared to form a 
parliamentary committee to look into the case, Mr Rehman said that 
after the receipt of the report of the judicial committee, the 
question could be considered.

Pakistani exports to US west coast up

KARACHI, July 20: Pakistan's exports to the US west coast, passing 
through Los Angeles, have registered an appreciable increase over 
the last four years, touching $350 million mark.

The items of export have been largely traditional like ready made 
garments, leather goods, sports goods, surgical instruments, cotton 
yarn and fabrics, textiles, handmade carpets etc.

But looking at the huge share of other countries in the vast US 
consumers' market the private sector of Pakistan has been advised 
to closely review its production facilities and capabilities in 
relation to the possibilities available in the US markets alone.

It is a well-known fact that the people of the United States of 
America constitute the largest single consumer market in the world. 
American markets have been the target of both the developed and the 
developing countries.

This has been observed by Tariq Azizuddin, consul general of 
Pakistani mission in Los Angeles in a communication sent to various 
ministries and trade bodies.

He said, "I believe our chambers of commerce across the country 
must take hard look at the existing and emerging possibilities 
worldwide and accordingly restructure themselves to take a slice of 
the available markets."

Azizuddin said that it was about time that our exporters should 
break away from the shackles of traditional items of export and 
concentrate on numerous other products which could be produced in 
Pakistan provided there was a will to do so.

In his communication the consul general has strongly suggested that 
chambers and other trade bodies should organize visits of trade 
delegations consisting of industrialists from across the country 
who may have interest in producing non- traditional consumer items 
and who can travel across the US, visiting several chain stores so 
that they may find out the countless possibilities themselves.

Tariq Azizuddin has pointed out that none of the products in those 
chain stores is made in the USA testifying to the fact that in this 
highly consumer-oriented society of 280 million anything can be 
sold provided it meets certain quality standards and can be 
produced on mass scale.

The diplomat has cited an example of a Pakistani industrialist who 
visited California and Texas early last year with the hope of 
selling medium-sized pedestal fans made in his factory near 
Gujranwala. The manufacturer, he said, was also carrying a few 
samples with him which were of fairly good quality.

When two major corporations like J.C. Penny and Macy's were 
approached, both expressed interest in placing large orders with 
him. But when they revealed the required quantity of one million 
pieces each within a period of three months, the Pakistani 
industrialist nearly fainted.

Sheepishly, he informed them that he could produce only 10,000 
pieces after one year. This example, the consul general said, 
showed that a huge export opportunity was lost due to our inability 
to produce items in large quantities.

One out of 32 banks holding back approval
Haris Anwar

KARACHI, July 20: One out of 32 commercial lenders is holding back 
its approval to the commercial debt-restructuring deal with the 
government of Pakistan.

"We have done extensive discussions with two other reluctant banks 
which now have been agreed with the terms and conditions of the 
agreement except one European bank," said a source involved in the 

According to Western banks' syndicate documentation, the approval 
of all syndicate members is required to finalize the debt 
restructuring deal. 

But this condition does not apply in case of Middle Eastern banks-
led syndication where only majority approval is enough.

The reluctant bank, which is a part of Citibank-led syndicate, is 
being persuaded to grant its approval to its syndicate to go ahead 
with the deal.

They are total eight syndicates of foreign banks which have been 
involved in the negotiations.

"All banks with the exception of the one European Bank have again 
confirmed their approval to the Central Bank with the terms of the 
agreement," a source said. 

The government has also agreed to pay an accumulated interest from 
September, 1998 to June 1999 at the regional contracted rates, 
sources added.

Pakistan had stopped servicing its debt to these lenders from 
September last year due to foreign exchange crisis in the aftermath 
of its nuclear tests.

Finance Minister Ishaq Dar on July 6 announced that government and 
foreign banks had agreed on a three-year debt rescheduling for 
$877.3 million commercial loans.

According to an agreement, no payment of interest will be made till 
December 2000. 

After that quarterly payments will begin with interest rates 
ranging from one to one-and-half per cent over LIBOR.

But Pakistan has yet to sign a master trade maintenance facility 
with these lenders which will formalize the debt rescheduling 

IMF talks cover vital financial aspects
Shaheen Sehbai

WASHINGTON, July 23: Talks with IMF have started off well and are 
likely to end successfully early next week, Finance Minister Ishaq 
Dar claimed on Thursday, though IMF sources said a couple of major 
issues had to be resolved.

The minister told Pakistani journalists at a Pakistan Embassy 
dinner that the whole range of issues was discussed by his team 
with IMF Director Paul Chabrier and his officials in the first 

Mr Dar is likely to meet Deputy Managing Director Stanley Fischer 
and officials are expected to continue intense discussions on 
Friday and Saturday as well.

A competent Pakistani source at IMF said it would let Mr Dar do all 
the talking about his visit and the point should be noted that so 
far IMF had not contradicted any of the claims made by the finance 
minister in his remarks to the media.

Asked to comment on Mr Dar's claim that his meeting was "pre- 
scheduled" and was not something worked out in a rush after the IMF 
mission came back without a report, the IMF source said: "It 
happens both ways. Sometimes the mission goes and issues are 
unresolved and the team goes back to resolve them. But if these are 
issues which deserve senior-level discussions, then either someone 
senior from IMF goes or someone from the other side comes over. 
Considering the fact that two senior people of IMF are on leave in 
August, it was logical that Mr Dar decided to come here."

Q: Then would it be correct to say that there are some issues which 
needed high-level attention and could not be tackled at the 
bureaucratic level.

A: Absolutely. There are one or two unresolved issues and that is 
why he is here but that does not follow that the programme is in 
jeopardy. If you look at the political atmosphere there is a 
concern that Kargil may have had an adverse impact on what IMF 
members are thinking about Pakistan. This perspective is important 
to come in.

Asked about the schedule of the talks and what would happen after 
this review is completed, the IMF source said once talks were done 
there would be a staff report prepared by IMF to be circulated to 
the Board.

He said the Executive Board was going on a recess on August 9 for 
two weeks so there would not be enough time to finish all the work 
as the process of circulating the report was long. "We are coming 
back to old schedule. Under normal circumstances the Board meeting 
would have taken place by the end of August or early September."

The minister emphatically denied reports in Pakistani newspapers 
that he was to announce a 15 per cent increase in petrol prices 
under IMF pressure. "As usual, this report will also prove to be 
wrong," he told journalists, claiming that reporting on IMF had 
been way off the mark for the last many months.

Mr Dar got irritated when a journalist mentioned that he belonged 
to the Ittefaq Group and, as such, was a friend of the man of 
steel. "I have never been an employee of Ittefaq. I forced PPP 
senator Raza Rabbani to take back his words to that effect and I 
ask you to do the same," he told the journalist.

Earlier, in a speech to prominent Pakistanis who had gathered at 
the embassy, the minister claimed that he had brought the economy 
back to life and had negotiated remarkable deals with IMF, World 
Bank, the Paris Club and the London Club donors.

"I now hope that the economy of Pakistan must perform because you 
must not see it in isolation. Many international issues compounded 
the situation," he said.

Giving a long list of his accomplishments, Mr Dar said he had 
undone almost all the restrictions and actions that had to be taken 
after the nuclear tests in May last year.

"Now the overseas Pakistanis can get their dollars back by paying 
just a nominal difference of two rupees," he said, referring to the 
seizure of FCAs and subsequent moves to allow account holders to 
get their money back.

He told a questioner that the government had released to the 
Supreme Court all the names of the people who had transferred 
millions of dollars in the period between the Indian and the 
Pakistani nuclear tests in 1998.

"It is now for the courts to make these names public," Mr Dar said, 
claiming that laws did not permit him to disclose these names 
earlier until a court asked for the list.

Credit plan 1999-2000 after IMF talks
Mohiuddin Aazim

KARACHI, July 23: The credit plan for fiscal 1999-2000 may be 
finalized after the completion of ongoing talks between Pakistan 
and the IMF in Washington.

Sources close to ministry of finance say the economic managers are 
waiting for the outcome of the talks before finalizing their 
projections about the government borrowing and other constituents 
of the plan.

They say some earlier indications about allocating Rs 100-110 
billion for private sector credit in 1999-2000 do not mean that the 
credit plan has been finalized.

They say the exact amount to be allocated to the private sector 
would be ascertained only at the time of finalizing the entire 
credit plan after the talks with IMF are over.

"Setting the targets for government borrowing depends on how the 
talks are concluded," said a senior source close to ministry of 
finance. He said the economic managers would not know about the 
exact fiscal space available in 1999-2000 before conclusion of the 
talks with the IMF on the release of a third tranche of $1.6 
billion restored loan.

Finance Minister Ishaq Dar had said in his budget speech on 12 June 
that according to the revised estimates of budget 1998-99 the 
government had retired Rs 62.8 billion worth of debts instead of 
making fresh borrowing. But as of now there is no official word on 
the exact government bank borrowing-or debt retirement whatever was 
the case-at the end of fiscal 1998-99 on June 30.

Sources close to State Bank confirm debt retirement of Rs 59 
billion by June 26, 1999.

Credit flow to the private sector and public sector commercial 
enterprises was recorded at Rs 82.5 billion by the same time that 
matched the revised target.

The budget envisages debt retirement of Rs 13.6 billion in the 
current fiscal year but this figure has so far not been included in 
the 1999-2000 credit plan.

Sources close to the ministry of finance say since the target of Rs 
13.6 billion debt retirement has been based on a number of 
budgetary assumptions it was unlikely on the part of the IMF to 
accept it without weighing those assumptions. "Most prominent of 
all assumptions is a projected revenue receipt of Rs 422 billion 
which seems unrealistic," one of the sources said. He said this and 
similar other budgetary assumptions were to be evaluated once again 
before finalizing the credit plan for the current year.

The sources said projections for the new credit plan would be given 
final touches after the return of Finance Minister Ishaq Dar and 
State Bank Governor Dr Muhammad Yaqub from Washington.

They could not say whether the National Credit Consultative 
Committee-an apex forum representing economic managers of nominees 

of trade and industry-would be involved in drawing up the 1999-2000 
credit plan or the ministry of finance and State Bank would do it 
on their own.

Business leaders say NCCC has remained practically dissolved since 
the imposition of financial emergency in the wake of nuclear 
explosions on May 28, 1998 and is yet to be reactivated.

Sources close to the ministry of finance say though the 1999-2000 
credit plan is yet to be finalized the banks have been directed to 
allow liberal flow of credit to private sector as the new plan 
would likely have a larger allocation for the private sector than 
in 1998-99.

Senior bankers say credit disbursement of Rs 82.5 billion to the 
private sector plus public sector commercial enterprises (PSCEs) up 
to June 25, 1999 reflected credit flow to the private sector alone 
because PSCEs had rather retired Rs 391 million of debt. But they 
said a little less than 50 per cent of the entire credit 
disbursement to the private sector was in the shape of agricultural 

Bankers admit that agricultural lending in a large number of cases 
reflected nothing but paper transactions or loan booking to help 
the farmers repay their earlier loans.

Petroleum prices to be raised by 15%
Rafaqat Ali

ISLAMABAD, July 17: The government has decided to increase the 
prices of petroleum products by 15 per cent to offset the adverse 
impact of the recent steep increase in the world crude prices on 
its revenue income, Dawn learnt from official sources.

The increase is likely to push up the price of one litre petrol 
(premier) in retail by as much as Rs3, from Rs26.25 to Rs29.25.

This will be the third upward revision of the petroleum prices 
since May 1998. Immediately after detonating nuclear devices, the 
government had announced 25 per cent increase in the POL prices 
except for diesel.

Then just before the presentation of this year's budget, a 10.5 per 
cent across-the-board increase in oil prices was announced. And 
these increases reportedly yielded for the government a hefty Rs20 
billion in the form of fuel surcharges.

For the last two days, officials of the ministry of finance and 
petroleum were engaged in developing various price structures and 
finally on Saturday it was decided to increase the prices by around 
15 per cent.

The imminent increase in POL prices will be in the form of fixed 
development surcharge. The government has so far made no decision 
with regard to deregulation of the prices.

It is learnt that the ministry of petroleum is resisting the 
increase, saying it will further burden hapless consumers and also 
increase the cost of industrial and agricultural output.

The ministry of petroleum has helped the ministry of finance in 
working out the impact of the increase but refused to move any 

The government has so far not decided about the definite timing of 
the increase but it is believed that the decision cannot be 
postponed beyond two weeks. A high official of the ministry of 
finance is expected to leave for Washington in a day or so to brief 
the officials of the IMF about the government decision and its 

Sources said that government came under immense pressure to take 
unpopular decision as the POL prices in international market have 
gone up. 

For the last many years fuel surcharge is one of the major sources 
of revenue collection. In the last financial year Rs74 billion were 
collected in the form of petroleum surcharge and it had provided 
needed cushion when the tax revenues refused to respond positively 
to the budgetary measures in the post nuclear period.

One of the reasons that reportedly delayed the arrival of the 
review IMF mission in Islamabad in early July was the Fund's 
insistence that the government immediately pass on the increase in 
the world oil prices to the consumers. 

Greenback slips in inter-bank market

KARACHI, July 22: The US dollar shed 30 paisa on Thursday to close 
act Rs 51.15/51.25 for spot buying and selling in inter- bank 
market from Rs 51.45/51.55 on Wednesday.

Senior bankers told Dawn that the dollar fell on low demands. They 
said the decline in the demand had forced the greenback to shed 55 
paisa during the last two days. The dollar had closed at Rs 
51.70/51.75 for spot buying and selling in inter-bank market on 

"There has been a marked decline in the demand for dollars for the 
past few days," said treasury chief of a local private bank.

Other bankers reached by Dawn said the demand for greenbacks from 
the importers had fallen because of surplus imports during June on 
rumours of devaluation.

Some bankers said the State Bank had lately adopted a go-slow 
tactic in allowing foreign exchange outflows to contain the demand 
for the dollar. SBP officials were not available to say anything on 
the subject.

"The State Bank has gone slow on releasing M forms to contain the 
demand seemingly in the face of ongoing negotiations between 
Pakistan and IMF," said treasury chief of a leading foreign bank.

Bankers say the inter-bank market is currently well supplied with 
greenbacks in the form of export proceeds. They say with a set of 
curbs on free inter-bank foreign exchange dealings still in place 
increased supply has made the dollar cheaper in inter-bank market.

The dollar had shot up to Rs 51.90 about a week ago on about $51 
million debt payment by Hubco but afterwards it showed no increase.

The State Bank recently stopped banks from buying or selling 
greenbacks in the inter-bank market without any commercial 
transaction back-up. Senior bankers close to SBP said this had 
facilitated real inflows of dollars in the market leaving no room 
for the banks to hold on to the stocks of dollars and speculate. 
Hence a 55 paisa fall in the price of the dollar during last two 

Disparity in Wapda, KESC rates to end

ISLAMABAD, July 22: The government has moved the National Electric 
Power Regulatory Authority (NEPRA) to equalise the KESC and the 
Wapda power rates for domestic, agriculture and commercial 

This was stated by Minister for Water and Power Gohar Ayub Khan in 
the National Assembly on Thursday. He was speaking on a calling 
attention notice moved by Shakeel Ahmed Baloch and Jam Muhammad 
Yusaf on the extra rate charged by the KESC in Lasbela district 
which differed from the fixed rate imposed by Wapda in other parts 
of Balochistan on agricultural tubewells.

He admitted that there was an anomaly in the power rates in Lasbela 
district which was under the KESC and in other parts of Balochistan 
which were being supplied by Wapda.

He said the government on the directive of the prime minister had 
moved an application to the NEPRA on July 7 to equalise the power 
rates of the KESC and the Wapda throughout the country.

Balochistan power rates: The minister said Prime Minister Nawaz 
Sharif wanted Balochistan's power consumers to be supplied 
electricity at lower rates and an application had been filed with 
NEPRA in this connection.

He was replying to a calling attention notice moved by Jam Yousaf 
who said that tube-wells were being supplied power in Balochistan 
at a fixed rate of Rs 12,000 which was an unbearable burden for the 
agricultural consumers.

He demanded of the government to charge less from farmers.-NNI

Business awaits parity in KESC, WAPDA rates

KARACHI, July 21: Businessmen and industrialists have deplored the 
government's dilly-dallying over the announcement of uniform rates 
of electricity throughout the country.

The KESC rates in Karachi are higher than than those charged by 
WAPDA and inspite of the assurances by WAPDA chief to various trade 
related bodies to enforce uniform rates, no decison has yet been 
announced. The business community is waiting for the final 

Karachi Chamber of Commerce and Industry (KCCI), in a letter to 
WAPDA Chairman, has expressed concern over the delay in 
notification over the uniform rates.

"The uniformity must not only confine to tariff, but also to 
installation charges, meter rent etc. In fact, what would be the 
modus operandi, has to be clarified," remarked President KCCI, 
Javed Muslim.

SITE Association of Industry, in a letter to NEPRA, has also called 
for an equalization of rates in all respects in the case of WAPDA 
as well as KESC.

An official in All Pakistan Textile Mills Association (APTMA) said 
that the Association has also urged the NEPRA and WAPDA for quick 
implementation of uniform rates.

A textile mill owner said the tariff rates for an industry, falling 
in various category of KESC grid, pay 21-32 per cent higher utility 
bills as against the textile mill under WAPDA grid.

He told Dawn that according to an estimate, a textile mill of 
12,500-16,000 spindles provides additional Rs 375,000 on a monthly 
bill as compared to a mill under WAPDA.

Besides, the KCCI chief feared cost push inflation if upward 
revision in POL prices, rate of electricity and extension of GST to 
utility consumers takes places.

In a letter to the government, he said there were reports that the 
petrol prices would be raised by another 15 per cent which would be 
third raise since May 1998. He said only just before the 
presentation of this year budget, 10.5 increase in oil price was 

In addition, he said the sales tax is being levied on electricity 
and gas supplying companies from September. He urged the government 
to assure that the burden of GST should not be passed on to the 
consumers of these utilities.

The KCCI chief said that one of the major irritants arresting the 
growth of our industries and consequent of export of value added, 
is the ever increasing cost of production, making exports 

Ghous asked to improve law & order: minister
Bureau Report

ISLAMABAD, July 19: The political process is being restored in 
Sindh to effectively improve the law and order situation there, 
Interior Minister Chaudhry Shujaat Hussain told Dawn here on 

"Without the restoration of the political process it would be 
difficult to improve the law and order situation in Sindh, 
particularly in Karachi," he added.

He said the prime minister's advisor on Sindh affairs, Syed Ghous 
Ali Shah, had been asked to improve the law and order situation by 
making it the first priority of the provincial setup. "But I 
believe that there is a need to make the political process 
successful by taking all the players into confidence," the minister 

He said the situation had improved to some extent, and added: "you 
have to be very very vigilant and create certain environment for 
making the political process successful."

Responding to a question, he said the prime minister's adviser on 
Sindh affairs, was establishing contacts with different politi-cal 
parties and groups in the province.

To another question, Chaudhry Shujaat said the provincial assembly 
was not likely to be restored in the near future.

$1bn rice export target to be achieved: Laleka

LAHORE, July 19: Federal Food and Agriculture Minister, Mian Abdul 
Sattar Laleka said that Pakistan would achieve US $ 1 billion rice 
exports target during the year 1999-2000.

"The problem of mixing of inferior rice in the superior rice 
consignments to other countries has been overcome," he said after 
witnessing the demonstration of the locally fabricated first-ever 
paddy transplators at Rice Research Institute (RRI), Kala Shah Kaku 
, some 18 kilometres off here.

Federal Parliamentary Secretary for Food and Agriculture, Chaudhary 
Afzal Hussain Tarar, Chairman Pakistan Agricultural Research 
Council (PARC), Dr. Kausar Abdullah Malik, Managing Director Heavy 
Mechanical Complex (HMC), M.A. Janjua and Director RRI, Rao 
Muhammad Ghayyur were also present on the occasion.

He said that the rice exports for the year 1998-99 were likely to 
close at the mark of US $ 800 million.

He said that Pakistan's super fine basmati had outbeaten the Indian 
Tilda brand rice in many countries.

To a question on Basmati issue, he said that all was prepared to 
file a suit in an American court against the registration of 
Basmati rice by a firm with the United States' patent body as its 
own product.

"We will safeguard the national interests in every field of life," 
Laleka vowed.

Regarding the successful fabrication of the paddy transplanter by 
Heavy Mechanical Complex, Taxila for Farm Research Institute (FMI) 
of Pakistan Agricultural Research Council (PARC), the minister said 
that the introduction of this machine would help increase the per 
acre yield of rice in the country.

The paddy has been sown in Pakistan this year over an area of 2.3 
million hectares to reap a production of 5 million metric tonnes.

Laleka said that the per acre paddy plant population would increase 
by 90,000 plants due to this transplantator from the present level 
of 40,000 plants.

He said that the government would extend 100 percent Agricultural 
Development Bank of Pakistan (ADBP) loaning to the farmers for the 
purchase of the transplantor.

Laleka said that the government would announce subsidy for the 
sunflower growers at the time of sowing.-APP

Stocks maintain firm outlook

KARACHI, July 23: Stocks on Friday maintained firm outlook as 
investors continued to build-up long positions on selected counters 
aided by some positive developments on the corporate sector, 
notably the passing of the anti-dumping law by the parliament.

The KSE 100-share index after an early smart rise,finished with a 
clipped gain of 4.95 points at 1,191.03 points as compared to 
1,186.08 points a day earlier,pushing the market capitalization to 

"The index is only 9 points away from its coveted target of 1,200 
points but whether or not it breaches it early next week is 
anybody's guess", said a member of KSE.

But most leading brokers say it is sure to breach the psychological 
barrier of 1,200 points possibly by the next week and will 
fluctuate within the lower and higher limits of 1,200 and 1,400 

"Barring weak economic fundamentals,most of its immediate irritants 
have been removed and now the market is free to respond its 
technical demand as it likes", they added.

Led by Fauji Fertiliser, urea shares remained in strong demand and 
ended further higher barring Engro Chemical, which ran into profit-
selling at the fag-end of the session because of weekend 

The urea producers have been complaining about the dumping of the 
commodity by some leading multinational companies at much lower 
prices, having a negative impact on their sales and earnings.

"The market welcomed the approval with open arm as it was for the 
first time in Pakistan's history that such a law has been approved, 
which will safeguard the interests of the local industry where it 
was hit by dumping of cheaper goods", analysts said.

Although the percentage of the anti-dumping is not specified in the 
law,urea and polyester yarn producers welcomed the official action 
to protect the interests of the local industry.

"Heavy buying in the urea shares for the last two sessions reflects 
that the current run-up initiated by the Kargil withdrawal could be 
sustained in the coming sessions too", said a leading floor broker.

The market also continued to derive strength from the news of an 
expected increase of 15 per cent in the petroleum prices to meet 
the IMF demand in the coming sessions, he added.

Weekend profit-selling toward the closing bell did push prices of 
some leading shares modestly lower but the on-balance trend 
remained on the upside.

Nestle Milkpak again led the list of gainers, finishing with an 
extended gain of Rs.5.00 followed by Lever Brothers, CPC Rafhan, 
Pak Leather, General Tyre, Sapphire Fibre and Umer Fibre, which 
posted gains ranging from Rs 1.40 to 5.00.

Leading losers were led by Ghani Glass, Packages, Sitara Chemicals, 
Reckitt and Colman, Dadabhoy Insurance and 4th ICP, falling by one 
rupee to Rs.2.50.

Trading volume was maintained at the previous level of 126m shares 
as losers managed to force a modest lead over the gainers at 64 to 
55, with 37 shares holding on to the last levels.

The most active list was again topped by PTCL, up 20 paisa at 
Rs.22.45 on 62m shares, a half of the total volume, followed by 
Hub-Power, easy 10 paisa at Rs.16.95 on 19m shares, Fauji 
Fertiliser, up 95 paisa at Rs.47.25 on 12m shares, PSO, off 90 
paisa at Rs.129.00 on 11m, shares and Engro Chemical, lower 75 
paisa at Rs.74.50 on 4m shares.

Other actively traded shares were led by FFC-Jordan Fertiliser, up 
40 paisa on 5m shares, ICI Pakistan, steady 10 paisa on 3.514m 
shares, Sui Northern, lower 10 paisa on 1.513m shares, Tri-Pack 
Films, up 45 paisa on 1.210m shares, Telecard, firm 20 paisa on 
1.195m shares, Dewan Salman, easy 10 paisa on 0.946m shares and 
KESC, lower by also 10 paisa on 0.904m shares. 

DEFAULTING COMPANIES: Trading on this counter remained dull in the 
absence of demand and as result only Gammon Pakistan came in for 
modest support and was quoted higher by 25 paisa on 3,000 shares.

Back to the top
Ardeshir Cowasjee

WHY blame our stars? Why blame others and not ourselves? We are 
responsible for our own actions. We should blame our apathy, 
unconcern, indifference, impassivity, callousness, heedlessness, 
ignorance, and, above all, our selfishness combined with greed.

Senselessly, in 1993 the country brought in Benazir Bhutto and Asif 
Zardari to rule for the second time. Ridding ourselves of them with 
great difficulty in 1996, after they had caused irreparable harm, 
there remained at the top, heading a caretaker government, 
President Sardar Farooq Ahmad Khan Leghari, landlord to the manor 
born, man of wealth, who had served with honesty as a civil servant 
and was thus well versed in the rules of governance. Overtaken by 
power and greed, he closed his ears to reason and to the advice of 
the few who advocated that he undertake the process of 
accountability before holding elections. In this, he had the 
support of the army, the judiciary, our external supporters and 
providers, and even of the influential international media. Knowing 
well that once a political party sat in the saddle it would not 
look into its own misdoings, Leghari insisted on elections, and in 
1997, with his backing, Nawaz Sharif and his incompetent corrupt 
men were brought in by their 'heavy mandate' for their second 

Leghari and his caretakers surely knew the intelligence level of 
these men, their appetite for power and pelf, their capacity to 
ride roughshod over all to stem the voices of dissent, their 
shamelessness, their ability to amend laws and avoid repaying to 
the nation what they had robbed in their first round and even 
earlier. What they may not have known was that these men were 
capable of going to the extent of storming the Supreme Court of the 
land to save themselves from being adjudged.

In rapid succession Nawaz Sharif pushed through his 13th and 14th 
constitutional amendments by which he converted himself into a 
supreme autocrat. The president was made a puppet, the power to 
appoint the service chiefs was his alone, the judiciary was 
rendered helpless, and now, with all institutions of the state at 
his mercy, Sharif wields sole power and is answerable to no man, 
woman or child of this country.

Having done sufficient wrong, his sense of self-preservation should 
perhaps have made him aware that he was riding a tiger from which 
he might fall and be eaten up. But no, his instincts and reactions 
are those of mediaeval despots. Why are you surprised, 'they' ask, 
that when one talks of the hunger and thirst of the people he 
replies that he has given them yellow cabs and motorways? Did not 
Marie Antoinette, when told that the French had no bread to eat, 
ask why they did not eat cake? Why are you surprised, 'they' ask, 
that he flies in a 400-seater aircraft to go begging for money, 
that he takes his family with him for a photo-opportunity and to go 
little-mall shopping when he flies to Washington to beseech help to 
avoid war? Did Nero not fiddle whilst Rome was burning? Apocryphal 
may be the sayings about Marie Antoinette and Nero, but you are 
witnessing reality.

India suspects that when Sharif received Vajpayee in February and 
made overtures to settle all differences through dialogue, the 
Kargil operation was already underway. The preparation for the 
climb would so suggest. The army was assured that once its men 
entrenched themselves on the heights of Drass-Kargil the 
government's diplomats and media machine would step in and 
successfully mobilize support for their version of the Kashmir 
issue, leaving the army holding advance positions.

That the incursionists, Mujahideen, freedom fighters, patriots, 
defenders, zealots, or regular army (call them what you will) 
climbed the heights and entrenched themselves is a proven tactical 
feat. But what convinced them that the Indian forces would not 
strike back, that they would not react as they did having been 
caught napping? When Sharif realized that his miscalculation was 
likely to develop into an all-out war he retreated and sued for 
peace. That is the one right thing he did do - he did not compound 
his mistake. Possessing the qualities listed in the opening 
paragraph, we allowed him to become an autocrat. What right have we 
now to grumble about whatever he may do?

On Monday evening, post-PM-speechtime, Mushahid Hussain rang to 
tell me the answer was 'Yes.' To what, I asked. To the question 
asked in your last column, 'Has a lesson been learnt?' Surely that 
is not the purpose of your call, I said. What is it you want to 
know? Had I heard Mian Sahib's speech, and if so what did I think 
of it? Old hat, was my response. It is high time that you, 
Mushahid, vary the string of cliches with which you load your 
master's and your fellow ministers' speeches. We have heard enough 
about the Kargil assault being "popular, spontaneous and 
indigenous", and the government merely giving "diplomatic, moral 
and political support " to the Mujahideen.

But, following form, the next day the PML parliamentary party 
voiced to the press Mushahid's description of Mian Sahib's decision 
: "courageous, wise, sagacious, and far-sighted".

The attorney-general, the first law officer of the land, has also 
spoken up, but sensibly. On July 16, justifying the Washington 
communique, he stated that Pakistan is completely isolated and 
economically could not have sustained a full-fledged war. The 
country is already 50 years behind the developed world and would 
have been thrown another 50 years back had there been a war. (Dawn, 
July 17)

As for our war-mongers and zealots, the uneducated and ignorant 
majority, they should be informed by the government in power that 
India makes a formidable foe. Its armed forces are twice the size 
of ours, making it impossible for us to sustain a military 
conflict. Economically, if reserves are anything to go by, India is 
forty times our size. It is of no use us propagating the myth that 
one Pakistani soldier is equal in strength and courage to five 
Indian soldiers. Our retired generals, colonels, air marshals, 
wing-commanders, admirals and commodores do us a disservice when 
they air their views on the national media and relate how, whenever 
Muslims have gone to war, it has been against a foe far superior in 
number but their spirit of sacrifice and their valour have always 
made them victors. Wars now cannot be won without global sympathy 
and support. Propaganda must have credibility behind it.

The Indian propaganda during the Kargil conflict has been sympathy-
weaning, clever and insidious. Take this excerpt from 'The Times of 
India' editorial of July 12:

"... Islamabad's recidivism has led some people in India to believe 
that unless Pakistan is punished severely for its aggression - and 
unless that punishment sinks into the consciousness of the 
Pakistani population - another aggression might be initiated a few 
years down .... there must be reasoned policy on how to deal with 
the post-Kargil situation. India has no quarrel with the Pakistani 
people. Our problem is with the rulers.

"There are ways of conveying to the people of Pakistan the pain and 
humiliation the rulers of that country have subjected them to for 
no rhyme or reason.... An army which does not acknowledge its own 
dead is not likely to keep up its morale as a fighting force. India 
should compile a detailed list of the identities of the Pakistani 
soldiers killed in action in Indian territory and publish it in our 
print and electronic media and on the Internet ... the families of 
the dead Pakistani soldiers may come to know about the fate of 
their loved ones felled in battle and whom their rulers have - to 
their eternal shame - disowned .... A nation which repudiates its 
war dead will have little credibility among its own people ... 
Already, sections of the Pakistani media are denouncing the rash 
adventurism of their rulers. With TV, Internet, satellite 
telephones and fax machines available to the Pakistani population, 
they cannot be deceived for long."For the present, war clouds have 
receded, with our side admitting to the loss of 250 lives (do we 
double, treble or quadruple that figure to get to reality?), and 
with India admitting to the loss of around 2000 (which must also be 
multiplied), losses which we feel with equal grief. The monetary 
cost to us has been over $100 million and the fact that India 
admits to having lost double that amount can be no consolation.

Mian Sahib is satisfied with what he has achieved and is now taking 
off for Saudi Arabia on a thanksgiving pilgrimage to perform Umra. 
Ghous Ali Shah and other PML acolytes have been asked to board a 
special flight at Islamabad, fly to Lahore to pick up their Leader 
plus family and friends, and then speed on to Jeddah. They are 
scheduled to return to the homeland, cleansed and blessed, on 

For this submission what gain?
Ayaz Amir

CAPITULATION and submission are not unknown circumstances in the 
world and so if we took the road from Kargil to Washington - which 
seems to have been the only road open since we have it on the 
authority of the nation's supreme leader that there is no road from 
Kargil to Srinagar - it is not all that surprising.

Whatever our pretensions, and we can be an awfully pretentious 
people, what the Kargil affair and its aftermath have confirmed is 
our essentially tinpot status. When the heat was on and the tension 
became unbearable the political and military leadership cracked and 
as a consequence sought the fig-leaf of Clintonite intervention to 
cover its pusillanimity.

Our soldiers, it is important to remember, did not crack. Small in 
number, they withstood the might of the Indian army and performed 
truly heroic deeds. That they were badly let down, their sacrifices 
gone to waste, is not strange. Since the 1965 war there has been 
one constant thread running through the history of the Pakistan 
army: bravery, often great bravery, at the lower levels; a failure 
of nerve, vision and leadership at the top.

Even so, the point to note is that if at the crucial hour the 
Pakistani leadership thought a headlong retreat to be the better 
part of valour, it was not doing something unusual in history. 
There is nothing novel about weak leaderships submitting to a will 
greater than their own. All the same, there is a vital distinction 
which should be kept in mind. Capitulation can either be 
unquestioning and absolute as that of France before Germany in 
1940. Or it can be tied to a larger purpose as we have been seeing 
in the Middle East since the Arab-Israeli war of 1973.

Sadat of Egypt and Assad of Syria started that war because they 
wanted to break the strategic stalemate which had taken hold in the 
Middle East since the comprehensive defeat of the Arabs in the 1967 
war. In this aim they succeeded. While Israel was not defeated, the 
Egyptian and Syrian armies proved their mettle.

Furthermore, the oil-producing Arab states (for the first and 
probably last time in their history) slapped an oil embargo on the 
western powers. As the price of oil quadrupled overnight the West 
suddenly faced the spectre of an oil shortage. The Americans were 
finally convinced that if peace and stability were to return to the 
hub of the Middle East they must take an active interest in peace-
making. Thus was laid the groundwork for Kissinger's shuttle 
diplomacy and the first security agreements between Israel on the 
one hand and Egypt and Syria on the other.

But as time went by Sadat got restless. Impatient for the dividends 
of peace, he broke ranks with Assad, flew to Jerusalem and under 
the auspices of President Carter signed the Camp David accords with 
Menachem Begin. For the West this was not pragmatism but 
statesmanship. At the popular level in much of the Arab world, 
however, Sadat was reviled as a traitor who had betrayed the 
collective Arab cause. When he died at the hands of an assassin in 
1981 the West was shocked but many people in the Arab and Muslim 
world thought he had received his just deserts.

Still, for the policy choices he made Sadat had something to show. 
The US treated him as a strategic partner, second in importance 
only to Israel. It underwrote the Egyptian economy and replaced the 
Soviet Union as Egypt's chief supplier of arms. Egypt also got the 
Sinai back from Israeli occupation. Sadat is dead but with Egypt 
firmly committed to the path charted by him, his legacy survives. 
Hussein of Jordan trod the same path and Yasser Arafat is doing the 

Thus Sadat gained something and lost something by his war and peace 
policies. Issue can be taken with the direction he chose but for 
better or worse he had a vision before him. What strategic vision 
blazed before the helmsman of the heavy mandate as he dashed off to 
make his hurried attendance at President Clinton's court, or rather 
its annexe since Blair House is across the road from the White 
House? Clueless in Kargil, wide-eyed in Washington: this about sums 
up the performance of Pakistan's leadership in this critical hour.

Much is being made of the contents of the Washington declaration. 
The truth is that if the Americans were to have drafted a more 
empty document they would have faced no difficulty in getting 
Pakistani signatures to it. Defeated armies can still be rallied; 
when the will of a nation or a leadership collapses there is no 
last line of defence.

But more amazing than the Kargil fiasco itself is its business-as-
usual aftermath. If anything like this had occurred in any self-
respecting country, questions would have been asked, accountability 
would have been insisted upon and heads would have rolled. The 
leaders responsible would have had nowhere to hide themselves. In 
pre-World War Two Japan (admittedly a far-fetched example) the 
samurais in charge would have committed hara-kiri.

It might have been supposed then that for this shambles there would 
be some remorse in high places. But this is not Japan. This is the 
land of Tiger Niazi, the hero of East Pakistan, and here shame and 
contrition fall to the portion of ordinary mortals, not to the 
nation's fearsome leaders. It is scarcely surprising then that 
although the Pakistan army has lost some of its finest officers and 
men on the mountains of Kashmir, so tangled a web of confusion and 
lies has been woven around this affair that we are neither able to 
acknowledge their deaths properly nor pay them the honour their 
undoubted heroism deserves.

Only in driblets is news coming in of our fallen men. A funeral 
takes place in a far-off village and word of it is carried in 
newspapers. But no consolidated list of fallen officers and men has 
been issued by GHQ. Nor has the nation been told of its living 
heroes. The pick of our fighting men deserves better than this. The 
higher direction of war may have been an unmitigated disaster but 
our fighting soldiers, living and dead, have nothing to be ashamed 
of. Against fearful odds they upheld the honour of their arms.

What international censure our conduct invited we have already 
faced. There is no further point in keeping a hugger-mugger shroud 
over the valour of our soldiers. The nation knows of the jokers who 
have compromised its honour and fair name. Why cannot it be told of 
the exploits of its fighting men? This knowledge would assuage to 
some extent the pain caused by the failure of leadership.

But to expect any sense from the country's good and great is a 
near-hopeless undertaking. With the nation still pain-stricken, one 
of its chief thanedars is more concerned about his unpaid loans. 
Naeemuddin, a UBL director and brother to the Mueenuddin who was 
imported as CBR chairman till he fled this country's confusion, was 
hauled up for a day last week because he was not being sufficiently 
helpful about this mighty gentleman's outstanding loans amounting 
to, hold your breaths, almost a billion rupees. Later the hapless 
banker was let off, presumably after being suitably warned.

Incredible but apparently true. Consider the nation's concerns and 
the priorities of its leading sharks. And to expect that this crew 
will feel remorse for the nation's sorrows.

Survival of the fittest
Irfan Husain

DO international interventions in local conflicts help or hinder in 
the long run? Is it better to let wars continue to their logical 
(if bloody) conclusion, or should the comity of nations put a stop 
to them as soon as possible?

These are some of the questions raised by Edward Luttwark in a 
recent article in 'Foreign Affairs', the authoritative American 
publication. A maverick scholar and consultant, Luttwark is the 
author of the classic "Coup D'Etat: A Practical Handbook" in which 
he postulated that in view of the concentration of power in 
developing states, a relatively small force could stage a 
successful coup.

All the leader had to do was to seize control of the state TV and 
radio, the telephone exchange in the capital, the airport and the 
chief executive's residence and office. He could then broadcast a 
statement to the nation, justifying what he had done, and the 
people and state institutions would soon fall in line.

Luttwark's current thesis is no less provocative. He argues 
persuasively that by intervening in armed conflicts, the UN and 
other international organizations merely defer the day of 
reckoning; in the meantime, the states concerned devote all their 
energies and resources preparing for the next showdown. Weaker 
countries are shielded from the consequences of their recklessness, 
and more powerful states are denied the rights their strength would 
normally entitle them to.

Obviously, this argument flies in the face of the internationalist 
movement that has sought to govern international relations during 
this century. First came the League of Nations that was created in 
the aftermath of the First World War to ensure that such a conflict 
did not recur, but its inherent weakness and irrelevance were 
exposed when it failed to halt Italy's shameless and brutal 
invasion of Ethiopia.

The end of the Second World War saw the emergence of a more 
determined effort to halt armed conflict. This time, the United 
States threw its full weight behind the United Nations, and the 
organization has completed over a half century of peacekeeping. The 
results have been mixed at best. Small states complain that through 
the Security Council, the great powers have used the UN to their 
own ends, while the latter allege that countries with a population 
of a few thousand carry the same weight as they do in the General 
Assembly. While there is considerable truth in both arguments, the 
fact is that it is in the Security Council where the real decisions 
are taken, and all too often, these decisions are in line with the 
interests of the permanent members of the Council.

But despite its inherent weaknesses, it is true that the UN has 
prevented many conflicts by giving the protagonists a forum to vent 
their grievances. However, it is equally true that by intervening, 
the organization has simply postponed the solution of problems 
rather than solving them.

A case in point is Kashmir: while halting hostilities in 1948, it 
failed to have its own resolutions implemented, and this failure 
has resulted in half a century of bloodshed, tension and bitterness 
between India and Pakistan, as well as untold suffering for the 
Kashmiris. Had there been no intervention in 1948, the problem 
would have been solved one way or another, and we would have got on 
with life. This way, we are in a situation of no-war and no-peace 
that has debilitated both nations.

The Middle East is another powder keg that has exploded from time 
to time as a direct result of the UN's actions and inaction. By 
first sanctioning the initial injustice of the creation of the 
Zionist state of Israel in the midst of a Palestinian population, 
and then failing to implement the Security Council resolutions to 
prevent Israeli expansionist tendencies, the UN has fuelled the 
flames of war. Here, the western powers who control the Council 
have ensured that Israel is protected from international censure 
and sanctions.

The conflict thus keeps smouldering, and even if the Oslo accords 
are implemented, the Palestinian refugees and their descendants who 
languish in refugee camps in the neighbouring states will still not 
have the right to return to Gaza or the West Bank, and their hatred 
and sense of alienation will continue to be a source of tension for 
years to come.

In Bosnia and Kosovo, it was NATO, pressed by the United States, 
that provided the framework for intervention. Here, too, Luttwark 
argues against intervention, contending that in the real world, the 
Serbs would have asserted their power. It is precisely because 
small powers are aware that they will be protected by the world 
community that they defy more powerful states. 

But intervention does not resolve the cause of conflict which in 
this case is the pathological hatred Serbs have for Muslims. In 
Luttwark's worldview, the Bosnians and Kosovars would have been 
crushed and marginalized. These rabid Serb tendencies were first 
kept in check by the Hapsburg Empire, then the Yugoslav Socialist 

Republic, and now by NATO. But Luttwark argues that nobody will 
play policeman for ever, and as soon as political will flags, 
Serbia's historical sense of being wronged will surface, and it 
will pounce on its Muslim neighbours.

Clearly, Luttwark's provocative article is aimed at making us 
rethink our automatic response to halt conflict everywhere through 
collective action. The images of war and bloodshed that invade our 
living rooms through television have increased our abhorrence 
towards organized bloodshed, and it has become difficult to argue 
that the powerful should be allowed to ride roughshod over the 
weak. But in terms of history, this is precisely what has been 

The Darwinian principle of the survival of the fittest holds as 
true for nations as it does for animal species. There has never 
been any place for morality in international relations, and 
Luttwark argues that the current trend towards collective action to 
prevent warfare is simply a fig-leaf to cover the underlying 
realpolitik that governs relations between states. He suggests that 
it is time we removed this flimsy covering, and allow a natural 
balance to emerge based on relative force.

Although a seductive argument, it is a dangerous one in its blind 
reliance on the linear logic or cause and effect. The fact that 
human beings have evolved to at least aspire to a civilized world 
makes it incumbent on the comity of nations to turn its back on the 
long and gory history of mankind. But small countries need to 
understand the realities of power and talk softly if they do not 
carry a big stick.

New manager and coach to be announced shortly: Mujeeb

LAHORE, July 22: New manager and coach of the Pakistan cricket team 
will be announced soon and national selection committee will be re-
constituted. A meeting has been fixed with the members of the team 
present in the country on July 26 (Monday) to discuss future 

Pakistan Cricket Board (PCB) ad hoc committee chairman Mujib-ur-
Rahman, while making the above-mentioned announcement, said at a 
crowded Press conference here at the Gaddafi Stadiumlate on 
Thursday evening that he had been assigned the task ofclearing the 
mess and run the cricket affairs on professional lines. 

However, the gathering at the cricket headquarter comprised mostly 
the persons who do not belong to media!

"Yes! I met President of Pakistan Muhammad Rafiq Tarar, who is also 
patron of the PCB, on Thursday morning. He assured me full support 
in clearing up the allegations levelled on the team and the PCB and 
also establish an efficient set-up", said a determined-looking 

The ad hoc committee chairman said that he played cricket, hockey 
and football in his school and college days and established a 
cricket team in Doha, which has been winning top honours for the 
last seven years.

"More importantly, I have been running 20 companies with a strength 
of 2,000 employees. I have enough entrepreneurial ability to put 
the game on modern, professional lines. I have not been given any 
time-frame. Still, I hope to appoint professionals in key positions 
within a few weeks, who will have to deliver the goods within three 
months after their appointment or quit. I have advised the staff to 
stop over-spending. I am addressing a Press conference for the 
first time in my life. I am a man of action, basically", declared 

The ad hoc committee chairman said that international commitments 
would be honoured. I contacted the International Cricket Council 
(ICC) and cricket authorities of Holland and Denmark on Wednesday 
at 8 pm and sorted out matters of sending Pakistan "A" team for a 
tour to the two countries on July 24. "Since, all the defunct PCB 
Council members nominated two members, each, in the team, so my 
committee should not be held responsible for its performance", said 
ad hoc committee chairman.

A Cricket Academy is being established and about 100 players 
between the ages of 19 and 25 will get training round the year. For 
the first three months, each player will be educatedand taught in 
mannerism. The Academywillbe established at a place where the piece 
of land will be made available. "The Academy will throw up 
disciplined and talented players, who will replace the national 
stalwarts in the team", hoped Mujib-ur-Rahman.

He said that another priority was to revitalise cricket in schools, 
colleges and universities. Not only the dedicated, former Test 
cricketers but also the present stars would beasked to go to the 
educational institutions to train the players.

Mujib-ur-Rahman admitted that he himself was also investigating 
into the "match-fixing and betting allegations". He assuredthat the 
recommendations of theone-maninquiry commission of Justice Malik 
Muhammad Qayyum would also be implemented in letter and spirit.

PCB offices remain shut

LAHORE, July 17: The headquarters of thedefunctPakistan Cricket 
Board (PCB) at the Gaddafi Stadium give a haunted look after the 
appointment of an ad hoc committee.

No one had been allowed to enter the PCB offices by the two 
security guards manning the gate that since Friday. Even on Sunday, 
no one would be allowed in, they said.

The PCB ad hoc committee member Javed Zaman Khan visited the 
headquarters for about ten minutes. The things are expected to 
start moving after the arrival of the ad hoc committee chairman 
Mujibur Rahman from Qatar within a few days.

The Gaddafi Stadium has been locked from inside and every visitor 
finds a notice, signed by the defunct PCB secretary Waqar Ahmad, 
pasted on a pillar of the main gate, which reads as follows:

"The President of Pakistan, who is also the patron of Pakistan 
Cricket Board has suspended the Management of Pakistan Cricket 

Board and appointed an ad hoc committee headed by Mujibur Rahman 
with Mr Javed zaman to perform the Board's functions until further 
orders. Entry in Gaddafi Stadium, Lahore and PCB offices is not 
allowed till further orders".

Farhan to play in Asian snooker tour play-off

KARACHI, July 20: Pakistan's Farhan Mirza will be among the 
continent's top six cueists to appear in the Pound Sterling 10,000 
Asian Snooker Tour play-off which breaks-off in Bangkok (Thailand) 
from Wednesday.

Former National Champion Farhan Mirza who finished third in the 
recently concluded 16th Asian Snooker Championship, qualified for 
the Asian Tour after finishing among the top four in the 

According to draws of the Asian Tour made available here on Tuesday 
by Pakistan Billiards and Snooker Association (PBSA) officials, 
Farhan Mirza has been drawn in one group with Asian championship 
runner-up Sam Chong of Malaysia and Glen Wilkinson of Australia.

Asian champion Noppadon Noppachorn of Thailand is drawn in the 
other group with Benjamin Guevara of Philippines and Chris Macbreen 
of New Zealand.

He said after the round-robin league contest top two cueist will 
advance into the semi finals while the other four will play 
crisscross and the winner will join the other two in the semi 

He said the winner of Asian Tour play-off will get a handsome purse 
of Pound sterling 10,000 (approximately Rs 850,000) and also 
qualify to play among the top 96 players on the World Professional 
and Billiards and Snooker Association (WPBSA). WPBSA will sponsor 
the Asian tour winner's visit to England.

The remaining five cueists are eligible to play on the WPBSA 
professional qualifying circuit but at their own expenses.-APP

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