ISLAMABAD: The government has blamed the banks funding its signature youth development programme for the tough terms and conditions for loans. Parliamentary secretary for finance and revenue Rana Mohammad Afzal Khan faced a barrage of complaints in the National Assembly on Wednesday from both sides of the aisle over what they said strict conditions attached to the loan scheme. Dr Mahreen Razaque Bhutto of the PPP and other lawmakers of the party had moved a call-attention notice on the matter seeking government’s reply. On the face of it, she said, the scheme had been formulated to help poor and unemployed young people, but in fact it appeared to be for the rich class.
Strategic dialogue with US to resume in Feb: Aziz
ISLAMABAD: The strategic dialogue between Pakistan and the United States, suspended in 2010, will resume by February in the perspective of post-2014 situation in the region after the withdrawal of foreign troops from Afghanistan. This was stated by Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz who was winding up a debate in the Senate on Wednesday on foreign policy with particular reference to the prime minister’s visit to the US, drone attacks and repercussions of the expected reduction in the number of forces in Afghanistan next year. He said that four of the six working groups which were scheduled to meet before start of the strategic dialogue had already met.
US review panel urges wide-ranging NSA spying overhaul
WASHINGTON: US legal and intelligence experts ordered by President Barack Obama to review National Security Agency practices on Wednesday called for a sweeping overhaul of US surveillance programs while preserving “robust” intelligence capabilities. The five-member panel of advisers also urged reforms at a secret national security court and an end to bulk retention of telephone “metadata” by the spy agency, by keeping those records in private hands subject to specific queries from the NSA or law enforcement.
Nearly 1,000 killed by ex-rebels in C. Africa capital: Amnesty
BANGUI: The Central African Republic’s mostly Muslim ex-rebels killed nearly 1,000 people in the capital Bangui two weeks ago in a rampage avenging deadly Christian militia attacks, Amnesty International said in a report Thursday. The death toll was significantly higher than earlier estimates by the United Nations, which spoke of 450 killed in Bangui and another 150 elsewhere in the country. The two-day spasm of violence by fighters from the former Seleka rebel group came after Christian militias known as “anti-balaka” (anti-machete) went door-to-door in some districts in the capital “and killed approximately 60 Muslim men,” Amnesty said in a statement.
Thai protesters march in bid to oust PM, but turnout low
BANGKOK: Anti-government protesters marched in Bangkok on Thursday in a bid to force Prime Minister Yingluck Shinawatra from office but their numbers appeared far smaller than earlier in the month, when she called a snap election to try to defuse the crisis. Protest leader Suthep Thaugsuban is demanding political and electoral reforms before any vote is held and wants these to be overseen by a “people’s council” his movement will help nominate rather than by Yingluck, who is caretaker prime minister until the election, set for Feb. 2. About 2,500 people marched along one of the city’s main roads holding banners that read “We are anti-corruption” and “No elections before reform”. Others are expected to join as they move through central business areas.
Suicide attack kills four soldiers in North Waziristan
MIRANSHAH: At least four soldiers were killed and 25 wounded when a suicide bomber rammed his explosive-laden car into a military checkpoint in Pakistan’s troubled northwest on Wednesday, security officials said. The attack came in the Mir Ali area of Miranshah, the main town in the North Waziristan tribal region, a hub for Taliban and al Qaeda linked militants on the Afghan border. A senior security official said that “a truck laden with explosives was rammed into the checkpoint when security officials were offering evening prayers”. As a result, “five soldiers embraced shahadat (martyrdom)”, the official said.
Imran Khan assails ‘those who attack polio workers’
PESHAWAR: Avoiding an open condemnation of Taliban militants yet again, Pakistani cricketer-turned-politician Imran Khan on Wednesday assailed “those who are attacking polio workers” and demanded an immediate end to the attacks. Without naming Pakistani Taliban, Khan said those who are targeting polio workers, “are doing injustice to our province, our country and the whole of humanity.” He has pledged personally to spearhead polio vaccination efforts in the troubled northwest of the country, which remains a hotspot for the crippling disease.
Pakistan ready to tour India for cricket revival: Sethi
SHARJAH: Pakistan’s interim cricket chief Najam Sethi on Wednesday reiterated his stance to revive ties with arch-rivals India, saying his team was ready to go across the border. India stalled all bilateral ties with Pakistan in the wake of the 2008 terrorist attacks on Mumbai, which New Deli blamed on militants based in Pakistan. Pakistan toured India for a short limited overs series at the turn of this year (December-January) but that could not revive the ties, regarded as better than the Ashes played between Australia and England.
World Will Be 40 Percent Richer By 2018
Global wealth is projected to rise by nearly 40 percent over the next five years, reaching 334 trillion US dollars by 2018. Emerging markets will likely be responsible for 29 percent of the growth, while China will account for nearly 50 percent of the increase in emerging economies’ wealth. Credit Suisse’s 2013 Global Wealth Report projects that wealth will primarily be driven by growth in the middle segment, but the number of millionaires will also grow markedly over the next five years.
KSE closes at all-time high on 3G licence auctions hope
Stocks closed yet again at all-time high amid higher trades on economic optimism after FM hints rupee appreciation. The week started on a positive note with index gaining 41.62 points to close on yet another high of 25298.32 level compared to 25256.70 points of the last working day on Friday. Dealers said participation remained on the lower side as total volumes declined by 17pc to Rs10.1b. Some profit-taking was seen in NCL and NML as they declined by 3 and 2pc, respectively. Conversely, investors’ interest was seen in fertilizer scrips, especially in FFBL on the back of potentially impressive final dividend.
Moreover, with discussion on OMC margins in ECC is expected to take place this week, investors also keenly followed PSO which gained 2pc. FCCL remained the volume leader with 17.7m shares exchanging hands closely followed by ANL with trade of 16.8m shares while JSBL generated volume of 14.1m shares, he added.
