| March, 15 2005 | Tuesday | 4 Safar 1426 |
Please Visit our Sponsor (Ads open in separate window)
Soaring property prices
Omar Kureishi
IT is not certain yet that Iran will be attacked by America or Israel. But reports from Washington and Tel Aviv seem to indicate otherwise. Friday’s warning by Vice-President Dick Cheney of “stronger action” seems to give an inking of the American thinking. The warning came in the wake of Iran’s rejection of the “incentives” offered by President Bush to Tehran if it gave up uranium enrichment. In what appeared to be a softening of America’s attitude, the US last week offered to drop its opposition to Iran’s membership of the World Trade Organization and allow Europe to sell spare parts for Iran’s civilian airliners. Iran has rejected these incentives, saying no “bribe or threat” can stop it from pursuing its nuclear plans for peaceful purposes. However, the Iranian foreign ministry spokesman offered to give “objective guarantees” to the world not to make nuclear bombs.
Gradually, there seems to be a shift in European policy, too. With negotiations going on in Geneva, there was hope that the issue would not go to the Security Council. America has been keen that the UN should take up the matter, so that it could have a pliant Security Council pass a sanctions resolution against Iran. Now, with Iran refusing to budge, Britain, France and Germany, too, are threatening to take the issue to the 15-member council. Evidently, Iranian assurances are not acceptable to Europe, which wants Tehran to scrap its nuclear fuel production plant and, instead, rely on imports for keeping its nuclear programme going.
Unless there is a breakthrough, there is every possibility the hawks in Washington and Tel Aviv will have their way. Friday’s warning by Mr Cheney was his second this year. Earlier, he had warned that Israel could attack Iran’s nuclear installations. A hint also came from American military sources. Speaking to some Congressmen, Gen. John Abizaid, chief of the US Central Command, said “a regional power” could attack Iran’s nuclear installations. Who this regional power must be obvious to all. On Sunday, Britain’s Sunday Times reported that Israeli Prime Minister Ariel Sharon had given “initial authorization” for an attack on Iran’s nuclear installations. Sunday Times incidentally is the paper that had blown the whistle on Tel Aviv’s clandestine nuclear plan by interviewing Israeli pacifist Mordechai Vanunu. The paper reported on Sunday that Israeli forces were using a mock-up of Iran’s uranium enrichment plant as a rehearsal for the planned attack. It even identified the Israeli units that will take part in the attack: Sheldag (Kingfisher) commando units, backed by strikes by the 69 Squadron using F-15s. Given Israel’s track record, an attack on Iran’s nuclear installations remains a distinct possibility.
Should an Israeli or American attack take place, the region will be thrown into utter chaos. For the Arab-Islamic world, this would constitute a second American attack in two years in the heart of the Middle East. Israel is not a part of this world; it is an outsider and a moral leper. For reasons of domestic politics, American policy-makers may go along with Israeli designs but in the long run this policy will hurt America’s interests in the region. First to lose whatever standing they have with their peoples will be “moderate” Arab-Muslim regimes and potentates. To profit from the ensuing chaos will be those very extremists and terrorists for whose elimination the US is so keen to win the Muslim peoples’ “hearts and minds”.
REPORTS say that speculative trade in real estate is booming. Speculators are now booking sale and purchase orders for property that does not exist at present and is planned for the future. In Lahore and some other parts in the country, people are trading in some instances on paper only, since work on the project has yet to begin. Despite this, such is the demand for land, both residential and commercial, that people are willing to invest millions in a piece of paper that would one day materialize into a plot. This gives rise to speculative activity as rich investors are lured into buying plots in different schemes in the hope that these will be re-sold at a high profit. Speculation creates artificial demand, which, in turn, pushes up property prices further. Most affected are industrial plots which have seen an unprecedented rise in their prices with the pick-up in industrial activity. Industrialists now say that in some cases it is cheaper to set up industries abroad.
The government is partly to blame for it — its failure to come out with housing schemes and industrial zones. In Karachi, for example, not one industrial zone has been established in the past couple of years. Similar is the case with residential housing where the government has not launched housing projects on the scale that is required keeping in view the growing demand. One expects housing projects not just in elite localities but also for the growing middle class as well as low-cost housing. The government needs to announce a proper housing policy under which all types of applicants are catered to. At the same time, more needs to be done to check speculation. One way of doing so is to verify the identities of the people buying and selling plots and ask them for details about tax and other formalities so that only genuine buyers and sellers are able to conclude deals. These steps will help bring down prices and some level of transparency into this sector.
THE death of Omar Kureishi marks the end of an era in the cricket annals of Pakistan. He came to public prominence as a cricket commentator, but later became the preeminent cricket writer not only in Pakistan but in South Asia. More, he proved his versatility by his analysis of current affairs and of men and matters in his columns in this newspaper. But Omar Kureishi was much more than all this. He personified the graces of a time that seems forever lost. It was a time when cricket was a gentlemanly game, a time of flannel trousers and “Howzzat Sirs”. Commercialization had not yet overtaken this sport, nor some of the mannerisms and attitudes that now mark cricket on the part of both those who play and those who run the affairs of the game. Omar Kureishi had taken the changes in his stride and viewed them without rancour; indeed, he was tolerant of minor foibles and always looked at what was good for Pakistani cricket. Omar Kureishi took interest in many things besides journalism, notably public relations.
With Nur Khan as his boss, he created a dynamic and media-friendly image for the national airline and persuaded the organization to patronize sportsmen. He was a great mixer, and counted many eminent men and women as his friends. His life abroad had lent him a catholicity that was reflected in his political views. Omar Kureishi played a fine innings, and appeared to enjoy every moment of it. He had a pungent sense of humour that served him well in the commentator’s box and equally when he sat before the typewriter with his thinking cap on. He will be missed, particularly in this newspaper which he enriched with his columns and his memoirs.