| July 2, 2003 | Wednesday | Jumadi-ul-Awwal 1,1424 |
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CIRC and sick units
Cigarette advertising
‘No-visa’ proposal
Secretary’s qualifications
‘Iranian nukes’ and US
Joint electorate
Ravi bridge closure
Stay order & shareholders
Karachi that was
EVER since Prime Minister Atal Behari Vajpayee extended the hand of friendship to Pakistan during his speech in Srinagar in April this year, one has been waiting for the ripe moment for full normalization of relations between Islamabad and New Delhi. Some positive developments that have taken place in the Indo-Pakistan normalization process are the appointment of high commissioners, progress in re-starting the Lahore-Delhi bus service and the visits of Pakistani and Indian parliamentarians.
However, these are small steps because the momentum which was created by Mr Vajpayee’s offer of friendship and Prime Minister Jamali’s subsequent telephone call to the Indian prime minister has not been maintained. The two sides are still unable to resume regular train and air services and overflights, hold talks at the foreign secretaries’ and ministers’ levels and create plausible conditions for holding an Indo-Pakistan summit.
In various intractable conflicts like Egyptian-Israeli, Northern Ireland, Cambodia, Namibia, South Africa and East Timor, the emergence of the ripe moment enabled warring parties to hold serious negotiations, either directly or through intermediaries, leading to the peaceful resolution of the conflicts. Ripe moment means a situation in which the environment is conducive to launching meaningful talks between the warring parties, leading to either management or resolution of their conflicts. If the ripe moment is wasted, the prospects of an early resolution of a conflict become remote and then a lot of time is required to rebuild the momentum and to strive for seeking another opportunity for talks.
Considering the ground realities in Indo-Pakistan relations, it seems that the ripe moment in seeking a breakthrough has not arrived because of two reasons: first, the overcautious approach pursued by the two countries, particularly by India in committing itself to resuming normal relations with Pakistan and, second, the degree of mistrust and suspicion which still exists at the official level.
If President Gen Pervez Musharraf during his visit to the United States justifies the Kargil adventure, the Indian side too blames Pakistan for sponsoring cross-border terrorism. A lot of propaganda bickering is still going on by the two sides. Till the time there is lack of confidence and absence of political will on both sides, the question of the ripe moment doesn’t arise.
One can hope that civil society in India and Pakistan will help create conditions that can lead to the creation of opportunities for resuming normal relations between the two neighbours.
PROF MOONIS AHMAR
Karachi
THE spate of critical letters in your columns on the performance of the Corporate and Industrial Restructuring Corporation (CIRC) warrants fresh appraisal of its achievements, particularly with reference to the revival of sick units in Sindh.
Finance Minister Shaukat Aziz told parliament that only 160 units had been revived during the last three years. But this figure includes the revival brought about by the bankers as well. The CIRC can hardly claim to have resurrected even one-third of this number.
If we look at the number of the people employed in the CIRC and the talent engaged by it, it is an abysmally poor performance. The reason why it has not been able to justify its creation is that it has totally lost its original direction. Instead of liquidating the non-performing portfolio and putting closed units back on track, it has diverted itself to making profit through auctioning the sick industries, thus making it further impossible to revive the sick units.
The new purchasers then generally go for totally dismantling the structure to convert them into small residential plots. The whole mindset of the CIRC is to beef up its own balance sheet. It is using self-financing as its raison d’etre.
Experience now proves that all CIRC functions could have been easily performed by the bankers themselves. This would have augmented the banks’ financial position and there would have been no need to “sell” the mortgaged assets to the CIRC at a discounted price on deferred payment basis.
The CIRC mandarins enjoy legal immunity on their decision or discretion. Give the same protection to bankers and they would finish the whole task in a much shorter time. It is a pity that with so much authority and freedom of action the CIRC has not been able to make any noticeable success.
The policy of breaking meetings in the middle at Karachi and calling the parties from Karachi to Lahore is also questionable. The language of the notices and correspondence is also not quite proper. It is also a reflection on its approach that it lost six precious months in falling in line with the State Bank of Pakistan Circular 29.
The State Bank exercise is all about settlement of loans. The CIRC also works for the same goal. Then what was standing in the way to embarrass Circular 29 earlier? Now that it has done it, I would request it to implement it from the sole angle of liquidating the bad portfolio once for all at all costs and not liquidate the industry itself. Let us bury the past and make a short work of the problem.
MUHAMMAD MUNIR GILL
Hyderabad
THIS is with reference to Mr Sultan Chaudhry’s letter in these columns in which he expresses satisfaction over the observance of ‘No Tobacco Day’ on May 31 and his remarks about the effects this vile habit has on the health of the young people.
The recent banning of smoking at public places in Peshawar is a hopeful sign. The government is making some effort to curtail this problem. But the government generally has double standards so far as the sale of cigarettes is concerned and has done nothing in real terms to stop this.
For example, in the Bahawalpur city a hoarding on a government institution is seen advertising cigarettes and all the main roads display posters depicting the sale of this commodity.
The WHO in its recent decision to ban cigarette advertising throughout Europe stated that the main target of these tobacco companies was the Third World whose laws are lax and where the majority of the people are poor and where there is a perfect market for cheap cigarettes.
The Indian Supreme Court’s through a recent ruling banned all cigarettes ads. I wonder when we will really take some positive steps to stop the advertising of this commodity.
K. ABASSI
Karachi
THIS refers to the statements made by Mr Shahid Siddiqui, a member of the Indian parliamentary delegation which visited Pakistan recently. The statements published in Dawn on June 19, 20 and 21 forewarned Pakistan of the consequences that the 180 million Indian Muslims would face in case solution to the Kashmir dispute is against the wishes of India. Perhaps, no such statement was made by any member of the Pakistan delegation on its visit to India.
I visited India in the year 2001 (after a lapse of 33 years) and I observed that every Indian Muslim spoke of Pakistan and the Pakistanis in a humiliating tone. It is now difficult to distinguish between a Muslim and Hindu while interacting in public. Therefore, the suggestion of Mr Kuldip Nayar and Mr Shahid Siddiqui to abandon the visa formality in Afghanistan, Pakistan, India and Bangladesh may intensify terrorist activities by the Raw agents.
I would suggest that Pakistan consider Mr Kuldip Nayar’s no-visa proposal over a period of next 10 years by which time a change of hearts and minds on both sides may take place.
SHAIKH AMIRUDDIN
Karachi
THIS refers to the letter headlined “Company secretary’s qualifications” by Mr Muhammad Haneef (June 23). Many letters have so far been published in these columns wherein the writers have tried to prove whether members of Institute of Chartered Secretaries or members of the Institute of Corporate Secretaries are more qualified to be company secretaries. The pertinent question, however, is whether any of these institutes is qualified to grant educational qualifications.
The arguments so far put forward in the letters have precipitated the confusion already existing about these institutes. In fact, these institutes are not like educational institutes approved by the University Grants Commission or the ministry of education but are associations registered under section 42 of the Companies Ordinance 1984 for the social benefits of their members.
The membership of these institutes is doled out as largesse to those who may care to fulfil a few formalities. In case there exists any doubt in the relative superiority status of these institutes, the more appropriate course that may be followed by them is to request the SECP to re-establish their credentials rather than getting involved in a war of semantics.
Surprisingly, now when the SECP is planning to prescribe qualifications for a company secretary, these institutes have started arguing that their members should be considered equivalent to ACAP, MBA and LLB for the purposes of qualifications of a company secretary. The standpoint gives the semblance of a tussle between A and B on the ownership of a property that actually belongs to C and D. Will it not be too wonderful to equate an educational qualification with the membership of a social association?
An ordinary reader is puzzled whether the membership of these institutes qualifies a person to become a company secretary, or the company secretary-ship qualifies someone for becoming member of these institutes. Besides this controversy, a debate has started on which of these two institutes is better. For an amicable ends, the readers would appreciate if these institutes publish the respective prospectuses for which these were licensed.
In case these are engaged in attaining something ultra virus to their objects, then the SECP may review the validity of their licences by invoking section 42 of the Companies Ordinance.
CHAUDHRY AKBER
HUSSAIN
Lahore
ACCORDING to a recent report, the US president has said the world must not let Iran have nukes. Other US high officials have threatened military action against Iran. President Bush, being the most powerful man in the world, has not allowed himself to tackle the nuclear problem globally for which he is in an ideal position to do.
Besides, his statement suggests the non-existence of the UN for such matters. Let us also examine what can happen even if Iran builds a few nukes. Knowing well the devastating US reaction, can Iran use such bombs against any other country?
The reply can only be in the negative. Can it hand it over to some terrorist groups? Iran knows that if it does, it would have to face the unbearable wrath of the combined Western world.
All indications are that Iran may think to have nukes as a deterrent for the Israeli nukes, which the US does not like and approve, for its own long-term agenda in the Middle East. Hence it is calling Iran a rogue state.
Z. A. KAZMI
Karachi
PRESIDENT Gen Pervez Musharraf, in his address to the Pakistani community in the UK, mentioned two steps which he had taken to restore true democracy in Pakistan. The first, he said, was to give the women folk a very large representation in the national parliament of Pakistan. The second step, he said, was to reintroduce joint electorate to amalgamate the minorities in the national mainstream.
To put the record straight, I state it categorically that this claim is absolutely false and the exclusion of the Ahmadis from the joint electorate is a proof par excellence of this fact. As long as the Ahmadis are not given their undiluted right to cast their votes like all other minorities, the claim of the joint electorate in Pakistan is nothing but a hoax.
Is it not strange that when there was a referendum last year for the presidency, all the Ahmadis all over Pakistan were given the equal right with all the other minorities to cast their votes? But when the time came for the general election, the same year, the mullas prevailed upon the chief election commissioner, who accepted their demand to exclude the Ahmadis from the joint electorate system.
It was a golden opportunity to establish impartiality, neutrality and fair play for the judiciary but it was lost.
MOHAMMAD ISHAQUE SOOFI
Rabwah
THIS is to elaborate some facts which you have mentioned in your recent editorial, “Ravi bridge closure”.
The expansion joints of the Ravi bridge were 30 years old and had outlived their utility, as these are required to be replaced after 10 years. So it became necessary for the NHA and the NHMP to take steps promptly for the repair of these joints after taking over the enforcement on Bund Road last month.
The old Ravi bridge which you have mentioned is under the control of the Punjab government and needs full overhauling, a lot of funds and time. So for the safety purposes and in the best interest of the public, it was decided that the repair of the new Ravi bridge be taken up at once.
Secondly, you have stated that the commuters face problems and traffic is jammed. But the facts are different. The NHA and the NHMP especially announced alternative routes through the electronic and the print media before the closure of the Ravi Bridge and also made an effective plan to tackle the huge burden of traffic. By the grace of Allah, the untiring efforts of the NHMP officials and with the cooperation of the people, no single incident of traffic blockage has been reported.
The concern shown in your editorial is appreciated.
ABID HUSSAIN
Public Relations Officer, Ministry of Communications,
Lahore
IT is a pity that in a fight between the Adamjee Insurance Company and the Muslim Commercial Bank, small fries like me who happen to be shareholders of the AIC are being crushed. As the AIC has obtained a stay order against the holding of its annual general meeting, the dividend announced in the form of interim bonus shares and final bonus shares is being denied to us.
I request the Supreme Court to vacate its stay order and decide on the merit of the case whether the purchase of shares by the MCB was, in fact, a hostile takeover, as claimed by the AIC.
IMRAN BASHIR
Karachi
THE painting of the Jehangir Kothari Parade at Clifton, in your review of “A Zoroastrian tapestry” made me weep for Karachi. As an old Karachiite, I had seen the city in its pristine glory, when beautiful statues surrounded Frere Hall, when Karachi landmarks were maintained, and preserved, when the chimes of Karachi municipality and Merewether clocks rang in my ears, when even the water troughs for the horses were maintained and kept clean.
I doubt that the mayors and the nazims of present-day Karachi even know anything about the city’s history. Take the Jehangir Kothari Parade and Sir Jehangir’s house, for example. It should have been a heritage property, but look what we have done to it. It is in ruins, surrounded by ugly hoardings.
I suggest that the governor and the chief minister of Sindh and the nazim of Karachi visit the Jehangir Kothari Parade and see for themselves why I weep for my beloved Karachi. Sir Jehangir Kothari’s house gifted to the city is in a shambles and a shop and a restaurant have been established there. A part of the boundary wall of the Parade has been destroyed and the red Jodhpur stones stolen. The promenade leading to the sea smells of urine and is covered with filth. The Katrak Bandstand with its elegant dome is being systematically destroyed, a part of its base facing the west has been ripped open and the white Gizri sandstone stolen.
Let me give you a brief history of the Sir Jehangir Kothari Parade, for the benefit of those who happen to be the rulers of this unfortunate city. A large tract of the Clifton hill was the property of Sir Jehangir Hormusji Kothari. For several years Karachi municipality had been debating on the Clifton improvement scheme to make it a show-piece of the city. In 1917 the municipality took up the scheme in earnest and appointed a committee headed by Mr Misham Lee, the chief officer of the municipality (after whom the Lee Market was named), a plan was prepared to build a promenade on the north-west side of the hill with a terrace leading to the sea, and a covered pavilion at the beginning of the promenade. The whole scheme was so designed as to enable the people to enjoy the scene of Karachi harbour and the Island of Manora.
To implement this scheme it was found necessary to include 12,000 yards of the hill, including Sir Jehangir Kothari’s bungalow of which he was very fond. The Karachi municipality had no money with to implement this scheme. Sir Jehangir Kothari agreed to present to the citizens of Karachi all his 12,000 square yards of land and his bungalow valued in those days at Rs125,000.
Karachi municipality accepted Sir Jehangir Kothari’s munificence and resolved to name the promenade, ‘The Jehangir Kothari Promenade’. The governor of Bombay, Sir George Lloyd, after whom the Lloyd Barrage at Sukkur is named, laid the foundation stone (which is today covered by pan-spit) on February 10, 1919. On the completion of the project, Lady Lloyd opened it to the citizens of Karachi on March 21, 1921.
Mr editor, I have taken more space of your paper than I should have, but unless we educate the citizens of Karachi and the people who govern us to preserve such landmarks, which are part of history, the likes of which will never be built in the next hundred years, the rapacious builders and greedy officials will turn these into shopping malls and ugly concrete buildings.
I must state that it was only Prime Minister Zulfikar Ali Bhutto who had built a helipad near the Parade and who often inspected it before taking off. During his era not a stone was stolen, nor were hawkers allowed on the Parade.
FRAMROZE H. PUNTHAKEY
Karachi
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