This is to draw the attention of the Securities and Exchange Commission of Pakistan (SECP) chairman to the fact that I am a small share-holder of the Karachi Stock Exchange.
After a long time the company issued a 10 per cent dividend last year. The dividend warrant of this company which I received in my name is of Rs52, which was payable in Faisalabad.
When I inquired from my bank about its clearance charges, I was told that as the dividend warrant was payable outstation, I would have to pay bank charges that exceeded the value of the dividend warrant. I, therefore, did not deposit the warrant.
The treatment meted out by listed companies of the stock exchange towards their share-holders, especially small ones, borders on harassment, causing inconvenience to the shareholders in different ways, in violation of the laws.
They can afford to do this because no action is taken against them. In case they are fined in this regard, the amount is so small that they gladly pay the fine and repeat the violation.
I want to draw the attention of the SECP chairman to the Karachi Stock Exchange Listing Regulation No. V.19(2) which reads: "V.19(2) All Dividend Warrants, in addition to the place of the Registered Office of the issuing companies, shall be encashable at Karachi, Hyderabad, Sukkur, Quetta, Multan, Lahore, Faisalabad, Islamabad, Rawalpindi and Peshawar for a period of three months from the date of issue."
In the light of the above facts, and also to safeguard the rights and interests of shareholders, necessary measures must be taken against the KSE for violation of the regulation. This would discourage this company and others from violating prescribed regulations and rules of the stock exchange.
Moreover, I would suggest that the amount of fine/penalty be increased to leave no room for violations.
M. NAZAKAT ALI KHAN
Karachi
Abuse of Iraqi prisoners
The photographs showing US soldiers subjecting male and female prisoners at Abu Ghraib Prison in Iraq to severe humiliation and torture has made it quite apparent why the US so vehemently insists that its soldiers should be given immunity from the International Court of Justice. It knows well the level of barbarism to which its soldiers can sink.
It is also yet another indication of the American policy of demanding from others what it fails to deliver itself. The US is constantly pointing fingers at countries like Iran and Cuba and accusing them of violating human rights, while its own soldiers calmly disregard all norms.
Similarly, it has found it acceptable to wage war against another country on the mere suspicion that it possesses WMDs while it is a known fact that its own stockpile of WMDs is bigger than that of all other countries put together.
Not only that, the US is also the only country that has used these weapons against a civilian population - and not once but twice: first at Hiroshima and then three days later at Nagasaki.
The attack on Japan may have been in return for the attack on Pearl Harbour by the Japanese, but the death toll at Pearl Harbour was 2,500. In return for this, the US bombed the two cities, annihilating a population of over 200,000.
In short, they avenged the deaths of their countrymen by killing a hundred times more people. This is the American idea of justice.
Since some 3,000 or so people were killed in the attack on the World Trade Centre and the Pentagon, the US has gone on a mad killing spree.
ZAIN MANKANI
Karachi
Water distribution
I would like to draw the attention of President Musharraf to the official claim being made frequently about ending corruption in government departments. One such department is the Sindh irrigation and power department which is causing our fertile land to become barren.
Although sufficient water is available in the canals of our area, the department takes recourse to a system called gap system here, that is, once a quantity of water is supplied, the same is not supplied for a certain period.
This is being practised for the last about five years. The modules of watercourses remain closed for about 20 days in a month, leading to a decrease in the yield of crops. Farmers, in particular, and the nation, in general, are the losers.
Complaints, strikes and protests against such practices of the department have not been able to resolve this issue of so-called water shortage. But those who can buy water through unfair means have no trouble. It is being alleged by the minions of the department that everybody has a finger in the pie.
A recently-built reservoir (Chotiari reservoir) in Sanghar, which was inaugurated by the prime minister on Feb 19, 2003, having a capacity of 0.700 maf, was filled up to 0.200 maf (up to bed-level only), during the last monsoon season. Much water is lost to the Arabian Sea through the Indus, but only 0.200 maf was released for this reservoir.
It has become necessary to take stern measures to regularize the supply of water by stopping corruption at various levels. Also, a thorough inquiry should be held into what has happened so far, and the guilty be punished accordingly.
BASHIR BHATTI
Umerkot
Risk guarantees for foreign investors
In your editorial of May 1, you have welcomed the proposed package of the Asian Development Bank to provide security or terrorism risk guarantees to prospective foreign investors in Pakistan.
I am afraid I do not agree with your views. Providing such guarantees to foreign investors is the function of the state and cannot be carried out by a foreign bank. Entrusting these duties to the ADB would mean that the bank would be interfering in or intermingling with the state functions.
To induce foreign investors to invest in a country, certain measures have to be ensured by the receiving government. You have already listed such measures in your editorial, which include continuity of policies, repatriation of profits, eliminating red tapism, providing a one-window facility, curbing crime rate, armed robberies, kidnappings, assaults and thefts.
The editorial rightly states that it is time the government got serious about improving the on-ground situation for both foreign and domestic investors. This is the crux of the matter.
The assistance, if any required from the ADB, should be in the shape of technical assistance for institutional strengthening of the law-enforcement agencies. The sovereign functions and responsibilities cannot and should not be entrusted to any other institution.
FAQIR AHMAD PARACHA
Peshawar
Batmen for army officers
Brigadier (retired) A. R. Siddiqi in his column "Troop profile: cuts or replacements?" (May 1) has tried to argue that batmen for army officers are an operational necessity.
The fact is that in the British Army before partition, no batmen were allowed during peacetime. All officers, single or married, had to employ their own servants. Their personal bearers served them in the mess. This practice was not changed even during World War II. Only when a unit moved into a war zone or an operational area, batmen replaced personal servants.
This practice continued in the Pakistan Army even after independence. If I remember correctly, provision of a soldier batmen was one of the concessions secured by the army during Ayub Khan's martial law.
Now it has become a part of an officer's entitlement and if batmen have to be withdrawn, servants will have to be provided. Whether or not this move results in any savings, officers and their families would be very happy.
M. NAWAZ KHAN
Lahore
Suggestions to CBR
If we address the root cause of corruption, we may be able to reduce malpractice in the tax department, besides checking other maladies in our society. To achieve this objective, we should do the following:
The minimum salary of a tax recovery and assessment official should start from Rs20,000 to Rs25,000 plus free accommodation, medical and education facilities, with substantial post-retirement benefits, to enable him to concentrate with honesty and sincerity on his job.
Clerical staff should have a reasonable salary of Rs8,000 to Rs10,000 plus free accommodation, medical and education and retirement benefits or, at least, the offer should be equal to the basic facilities provided to the banking staff in our country.
Appointments in this department should be on merit considering the character and background of a person. They must be trained/educated to be fair and sympathetic to the tax-payers, a majority of whom are honest in paying their taxes but are not properly educated to maintain an accurate record of their businesses by engaging an accountant.
If tax-payers are given due respect and incentives and encouraged to feel that they are really serving their nation, they will come forward, realizing the importance of their participation in this regard. Corruption in the revenue departments is the only reason for their non-cooperation.
Lack of knowledge on the part of the tax-payer is exploited by the tax collectors to intimidate him. Tax-payers are misguided and feel that even if they pay proper taxes, they will be probed further for their previous record.
Heavy sales tax has badly affected local production and consumption, besides many other taxes such as professional tax, social security, EOBI, education and building wealth tax, partner/director tax, excise tax.
The funny thing is one has to pay tax even on the purchase of a matchbox and all other commodities one consumes and then again all other taxes that one pays being in business. No doubt, to survive, you also have to keep tax collectors happy even if you are honest in paying all government dues.
Tax should be levied according to our country's economic environment and we should not copy the developed countries. The minimum tax base should be Rs150,000 or above considering the economic condition in our country.
The tax rate should be very reasonable to encourage people to come into the tax net willingly and the procedure should be so simple that even a vendor should be able to pay tax without any hassle or harassment. Also it should be a "one-window operation", as every government promises us.
QAYYUM M. RANA
Sialkot
Ban on illegal fishing nets
This has reference to the report "Use of illegal fishing nets made offence" (Dawn, April 28) in which Sindh Minister for Fisheries Sardar Manzoor Panwhar has termed the adoption of the bill banning illegal netting a landmark decision. The bill bans the use of destructive nets like bullo, gujjo and katra.
In view of the major ecological damage, such as to marine life and food chain, caused for over two decades by use of the illegal nets, the punishment of up to one year imprisonment, with Rs50,000 fine, seems inadequate. The penalty has to be severer and should serve as a deterrent.
Like corruption in many other sectors, illegal fish- netting is no exception and is patronized by the powerful sealords and influentials who have benefited for many years through this unethical practice.
It is for the Sindh government to ensure that the ban is strictly implemented, and that these illegal nets are not sold anymore. It a matter of great concern that, according to the president of the Thatta district PFF, "destructive fishing net users are still roaming free in the remotest areas of the Indus delta and are destroying fish stocks in the area that has forced hundreds of poor families to became jobless".
Such law-enforcers as are alleged to be helping these illegal netters have to be checked or else this law too will fail.
SYED AZIZ AGHA
Karachi
What breeds corruption
Whenever the question of corruption and bribery among government employees is posed to President Musharraf (most recently at an anti-corruption conference in Karachi), he answers that civil servants are low paid and are therefore forced to take bribes.
This unfortunately gives implicit moral sanction to a crime that is eating into our society like termite.
Moreover, when a government servant becomes addicted to taking bribes, there is no end to his greed. He doesn't stop at the gratification of his basic needs but continues to amass wealth till the end. It is no wonder that now one of the richest sectors of our society is constituted by government employees who have stashed away millions locally and abroad.
KARAM ILAHI
Muzaffargarh
A wrong signal
Ever since someone had a brainwave of installing a traffic signal at the junction of Saba Avenue and Khayaban-i-Shamsheer in DHA, Karachi, there has been chaos at the crossing, particularly during peak hours, where there are no vehicles on one road, and a line of cars, rickshaws, buses and motorbikes on the other.
This induces impatient drivers to jump the red light and increases the chances of accidents. The fact remains that there is just no need for a traffic signal because the traffic from Saba Avenue is too sparse. Will sanity return soon?
ASIF NOORANI
Karachi
'Indian peace mission back home'
Most Indians are ignorant about Pakistan. All their knowledge stems from stereotypical portrayals in the Indian media. Across the border, though Pakistani TV channels are available, they are not provided to the people.
So, as Ms Shehar Bano Khan observes in her write-up "Indian peace mission back home" (Dawn, May 5), Indians do not see what Pakistan is really like. This was clear from what Dr Uma Sharma, Akshay Kumar, Sonu Nigam and other Indian visitors had to say about Pakistan after their visits here.
I had many Indian friends when I was studying in the US and was taken aback by their thoughts on Pakistan and Muslims. Most non-Muslim Indians thought all South Asian Muslims were Urdu-speaking descendants of invaders.
Indians believe Pakistan is a Talibanized country and are consequentially stunned by our colourful society when they come here. They are surprised by the participation of women in all fields; for instance, we have a higher percentage of women parliamentarians (21.6 per cent) than India (8.8 per cent).
I just hope that this new era of friendship results in a more accurate portrayal of Pakistan in the Indian media.
FAWWAD SHAFI
Karachi
Killings in Macedonia
The admission by the Macedonian authorities that a former Macedonian interior minister and six other security officials had ordered the killing of seven migrants, including six Pakistanis, in March 2002 is harrowing, to say the least.
The government of Pakistan must seriously take up the matter with the Macedonian authorities. It must be ensured that the affected families get appropriate compensation.
The government of Macedonia must be reported to the United Nations and the EU for these gross violations of human rights and if there is any diplomatic presence of Pakistan there, it should immediately be withdrawn in protest.
N.M. ABBASI
Lusaka, Zambia
Suicide attacks
Suicide attacks cannot be justified. But have America and Israel ever bothered to ponder over the reasons that force human beings to kill themselves? I think the "super-brains" that have launched the international campaign against terrorism should be able to understand that no human being can kill himself just for the sake of terrorising others.
Suicide attacks are due to the grave injustices being committed against the Muslims of Palestine and other part of the world, who are denied their right of freedom. The policy of target killings of Palestinian leaders is worsening the situation.