| June 25, 2007 | Monday | Jamadi-us-Sani 09, 1428 |
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Leaving passengers in lurch
EOBI pension
US realtors
Companies Ordinance
A plea to SSGC
Cotton crop
Dark definitions
U-turn by US
Salman Rushdie
Cricket coach
Unfair treatment
Readers are requested to restrict their comments to a maximum of 400 words. We reserve the right to edit letters for reasons of clarity and space. Letters, including those by e-mail, should carry the complete postal address of the sender. The views expressed in these columns do not necessarily reflect the views of the newspaper.—Editor
A NEWS report (June 21) by lhtasham ul Haque indicates that the World Bank has declined to finance large dams, inter alia, on account of unresolved environmental and resettlement issues, lack of political consensus, exhaustive feasibility studies, support from other banks and agencies.
IT is sad that while the government announces plans for construction of a series of dams, necessary support from the WB and international agencies appears to be lacking. Pakistan is unable to take on the task by generating funds unlike China which itself arranged all major funding for large hydropower projects.
Gigantic projects require detailed planning, feasibility studies and support in advance from the WB and other agencies. What do we have to offer the world to merit consideration of our plans to make the country self-sufficient in water and power generation.
We have a budgetary deficit of $8 to 9 billion as against reserves of about $14 billion. Remittances by Pakistanis and direct foreign investments have increased but direct investments can move out faster than they came. Massive US assistance after 9/11and direct foreign investments and remittances on a yearly basis by expatriate Pakistanis are together stated to be about $65 billion but none of these enable us to undertake water and power projects, so here we are once again asking for finances from the WB and others with our external debts standing at $39 billion.
The struggle for creation of Pakistan as a separate homeland was motivated mainly with the object of securing freedom from domination by the British and the majority Hindu population of India so that Pakistanis may achieve political and economic independence and freely practise and propagate their own personal religious beliefs.
While Pakistan has been involved in regional, ethnic and sectarian differences, religious intolerance has made a mockery of our ability to ensure freedom to practise and propagate our personal faith and beliefs irrespective of caste, creed, culture and religion.
While political independence to a limited extent with a uniformed democracy may be a fact, we continue to be heavily influenced by the US and our sovereign status is eroded by statements made on our soil by US officials regarding the president, parliament, elections, Supreme Court and other functions of the government. This seems to suggest political bankruptcy while economic independence continues to remain a much desired necessity.
The situation on the grounds, including (1) lack of democratic credentials, (ii) corruption, (iii) lack of harmony and national integration, (iv) disputes with neighbouring countries, (v) dismal record of human rights and women rights and (vi) confrontation between the two organs of the state have greatly diminished Pakistan's ability to achieve the cherished goal of political and economic independence and as we approach the 60th anniversary of the creation of Pakistan, we can only hope that Pakistan will turn the corner and become a successful modern Muslim state as envisaged by the founder of Pakistan, Quaid-i-Azam Mohammad Ali Jinnah.
LIAQUAT H. MERCHANT
Karachi
AS someone who has, out of sheer love for the country and its national airline, always flown from the US to Pakistan and back on PIA, I didn’t realise until the fateful evening of June 9 that there was a bitter experience in store for me and my family.
We flew from Boston to JFK, New York, by Delta Airline, which was slightly delayed due to bad weather, but when
I reached the check -in counter of PIA, with my wife and two children – slightly over an hour before the flight —
I was told that our economy-plus seats were allotted to passengers who had chance bookings.
Our persuasion and pleadings fell on deaf ears. The staff didn’t take notice of the fact that we had two small children with us. As if that was not enough, we were not even given hotel accommodation.
Finally, we had to check in at a hotel close to the airport and spend $400 for the night (everyone knows that even modest hotels in New York are expensive). The next day we were back at the check-in counter of PIA, this time five hours before the flight from JFK to Karachi via Manchester and Islamabad.
The suspense and the agony ended when the station manager came to our rescue less than an hour before the departure as he gave us boarding cards for the economy class seats. I must admit that the cabin crew was helpful in getting us seats in proximity.
Three of our bags reached Karachi three days late on a subsequent flight and we had to make an extra trip to the airport to get them, which is quite a hassle.
Will the chairman of the national airline call the explanation of the PIA staff at JFK and find out as to why our confirmed seats were given to passengers without confirmed bookings when there was enough time to give us boarding cards.
While the airline cannot compensate us for the agony and the inconvenience that my wife and I, not to speak of our two children, had to face in New York, the least the airline can do is to give us $400, which we had to spend on hotel stay for no fault of ours.
Needless to say, the difference between the fare of economy-plus and economy class ought to be paid to us too.
DR ZULFIQAR ALI MIR
Karachi
My pension from Employees Old-age Benefit Institution started with effect from Jan 11, 2001 at Rs 1,560 per month. In a short time EOBI has raised the pension, according to the following details: (a) Rs300 per month with effect from Jan 1, 2005, i.e, Rs 700 plus Rs300, totalling Rs1,000; (b) Rs300 per month with effect from July 1, 2006, pension totalling Rs1,300 per month and (c) Rs200 per month proposed in the recent budget, leading to the total minimum pension amount of Rs1,500 per month.
But my and many others falling in my category are still getting Rs1,560 per month, now equivalent to the above minimum limit of Rs1,500 per month. In short, I have not been given any increase in my pension.
I, therefore, request the authorities concerned to intervene in the matter.
SHEIKH ABDUL REHMAN,
EOBI Claim # SA-3568
Karachi
APROPOS of Safdar A. Khan’s letter, “EOBI pension’ (June 19) I should like to say that Mr Khan is right inasmuch as the benefit of increase of pension amounting to Rs300 per month effective January 2005 and subsequent revision of Rs300 per month from July 2006 has not been passed on to him and others who were
drawing formula pension under the provision of the EOB Act, 1976.
It was due to the fact that the increase was made in the minimum pension for both the above periods and not in formula pension.
However, being conscious of the concerns and disadvantage of pensioners like Mr Khan, the institution has proposed 15 per cent increase in pension across the board, which has been incorporated in the Finance Bill 2007-08 as announced by the federal minister for finance in his budget speech on June 9. Pension of all pensioners would, therefore, be enhanced by 15 per cent once the Finance Bill is notified after it is passed by the parliament.
MUHAMMAD HANIF
Deputy Director-General (B&C)
Karachi
THIS has reference to Col Singleton's letter regarding the realtor business in the US (June 17). As someone who has used the services of a few realtors in the US, let me caution you that all is not hunky-dory as he claims.
One of the worst aspects of the realtor business in the US is that both the realtors involved in a transaction — the buyer's realtor and the seller's realtor-are interested in getting the highest possible price for a sale.
In no other commercial transaction in the world does a person who represents the buyer try to jack up the price. Sure, the seller's agent is supposed to demand a higher price but the buyer's too?
As the colonel correctly points out, the realtors are working on commission. So, the higher the sale price, the better it is for all concerned except the poor buyer.
This is one of the main reasons for the real estate boom and bust that is part of the economic cycle in the US.
In fact, in this frenzy to drive up the prices, the realtors have dragged in lenders who bypassed due diligence, and wrote hundreds of thousands of substandard loans that are coming back to haunt, in what is known as the 'sub-prime lending' problem.
The people who suffer in all this are the poor and uninformed who are exploited into bidding for houses way beyond their means and what they are worth.
While licensing is all well and good, the realtors of America have a lot to answer for when it comes to the ethics of doing business. They may be legal but then, as we all know, laws need to be corrected endlessly because laws are written by men and women who are paid by interested parties.
The Realtors Association of America is a very powerful lobby and has vigorously resisted attempts to loosen the stranglehold it has on the listings of houses for sale.
Yet, newer technologies on the Internet are coming of age and many people are bypassing the services of a realtor. Some realtors have also started to work on a hourly salary basis (or a flat rate for services), where they are really doing the job of representing the client and advising the client with the client's best interests in mind.
B. K. VAAN
Chicago. IL. USA
THE Finance Bill 2007 sponsors a proposal whereby private limited companies (PLCs) are required to file their annual financial statements (FSs) with the companies registration office (CRO). This registration shall mean opening their accounts to public in general. Hitherto, in line with global corporate standards, the PLCs were explicitly excluded from the requirement of filing their accounts with the CRO.
It is significant to discern that the law bestows scrupulous privilege and singular place on PLCs, which is evident from some of the features enshrined in or permitted by Companies Ordinance 1984, (Ordinance) elucidated hereunder:
The parenthesis and the word (private) becomes part of the name, announcing to the public that the entity is private.
The Ordinance, inter alia, preserves and protects the privacy of PLCs.
The directors are vested with the prerogative to offload the shares of relinquishing shareholders of a PLC to the person of their choice and not to the person intended by the selling shareholder. The presence of such a robust discretion, for the directors, points to the earnestness of upholding the secrecy and confidentiality of a PLC.
The Ordinance, inter alia, has provisions that make the rules, less inflexible for PLCs, with regard to preparation and audit of accounts. It is significant that the PLC continues to enjoy the special privilege owing to the following reasons:
By its very attribute, a PLC is closer to partnerships and sole proprietary concern. The proposed change in the law shall take the PLC away from this position and put it near to public companies. The unwarranted sea change would be tough to digest and handle.
The PLCs and public companies are mutually exclusive and poles apart and the proposed amendment to the Ordinance shall affect this age-old distinction.
It is a departure from established norms and, therefore, has come as a bolt from the blue. It was not envisaged by anyone, including the seasoned corporate players and professionals in the field. This is an era of mega businesses, and PLCs should be encouraged to unfold and become bold, within the bounds that they prefer and are internationally recognised, rather than astonishing them with misconceived stipulations.
The owners of PLCs, over the long years, owing to the privacy conferred upon them by the Ordinance, had come to believe that the Financial Information that their FSs contain, is classified and confidential, not meant for general public and releasing such information, could be injurious and detrimental to their respective interests. The move shall have a direct bearing on foreign direct investment (FDI). It is for everybody to see that foreigners by and large and in particular the foreign business groups, as a part of their global policy, in relation to their businesses in Third World countries, prefer to keep away from public eye and they feel more secured, operating as a PLC.
In the light of the above, the quarters concerned should do away with the proposal requiring a PLC to file annual audited accounts with the CRO.
MOHAMMAD ZUBAIR
Karachi
THROUGH these columns I would like to bring to the notice of the relevant authorities the inefficiency prevailing in the Sui Southern Gas Company, Karachi. It has been cause of mental agony and sufferings for its consumers. In support of my contention, I would like to bring in to the fore an instance of its maladministration.
It relates to the non-receipt of Sui Gas bills from March onward. When a complaint was made on telephone by my husband, he was informed that the bill could not be issued due to non-receipt of advice from the quarters concerned about the installation of a new meter, in lieu of the old one, some time in March at our premises.
We were advised to contact the relevant department in Sui Gas office to get the matter expedited. It will be appreciated that even if the meter was changed, it is not the duty of the consumers to give an awakening to the department concerned in the Sui Gas office to provide the relevant details to its billing department.
This should have been done automatically by the department. My consumer No. is 516009896. The meter numbers are old: M 2226541, New: M 2211259. Will the highups in the Sui Southern Gas Company please look into the matter?
MS ZUBAIDA BEGUM
Karachi
INDIA's cotton crop has increased from 14 million bales in 2002 to 27 million bales in 2007 by using BT cottonseeds. Yields have increased from 120kg to 200kg per acre. India today has 9.5m acres under BT cotton and has beaten China. India was in the past an importer of cotton, but now has exported 4.70m bales of cotton in 2007 with China being the main buyer.
India's IT industry's total revenues through export of its software have gone up to a whopping 47.80 billion dollars. India has progressed quickly especially in BT cotton and its IT software exports whereas in Pakistan we have gone down in cotton production from 14 million bales to 12 million bales and our IT software export is still hovering below $1 billion.
RAZA ALI DOSSA
Karachi
SUFFERING badly in a dark and hot Karachi night devoid of electricity can have strange effects, apart from making one raving mad or severely depressed, it can sometimes turn on creativity.
Some new definitions of the initials, which previously meant something else, dawned on me. 1) KESC: Karachi Electric Shutdown Corporation. 2) Wapda: Water and Power Disappearance Authority (don't be surprised, there are men and women 'disappearing' in this benighted land). 3) LAJ (formerly Liaquat Ali Jatoi): Loadshedding Assurance Jobber.
ABDULLAH
Karachi
US Assistant Secretary of State Richard Boucher stated when he was in Pakistan recently that America wanted President Musharraf to shed his army uniform before the general elections. It was a statement concerning a very important issue. Besides constitutions interference in Pakistan's internal affairs, it put President Musharraf in a very awkward position domestically.
Unless the US has a new and entirely different game plan vis a vis Pakistan, this was a blunder, for a day or two later Deputy Secretary of State John Negroponte along with two other important diplomats dashed to Pakistan to meet President Musharraf (who met them in uniform) to rectify this mistake. They stated categorically that it was President Musharraf who himself would decide whether to shed or wear the uniform.
The episode shows that the president has some very strong and important cards with him vis a vis the US which he must have shown to the US through the proper channel. The U-turn by the US was for the worse for Pakistani politics and democracy. It exposed America's commitment to democracy. How can it now ever proclaim that it is against military rule?
President Musharraf should use his leverage with the US for the benefit of Pakistan and not for getting re-elected while in uniform.
MOHAMMAD RAFI
Karachi
WE are all shocked to hear that the British government has knighted Salman Rushdie, author of The Satanic verses and one of the most hated figures in the Muslim world.
It is generally believed that the British as a nation are very understanding, cool, composed and considerate and prefer to take well-thought-out action, and this was perhaps one of the reasons why their small country ruled over a major part of the world and for so long. However, this action on the part of the UK government has deeply hurt the feelings of Muslims throughout the world.
It is hoped that the UK would reconsider the matter and withdraw the title conferred on Salman Rushdie without loss of time, thereby repairing the damage done to the Muslim world.
MUNEER MUHAMMAD KHAN
Karachi
THE PCB has been hiring foreign coaches for the Pakistan team but most of our players are incapable of speaking or understanding English properly.
This is nothing to be ashamed of since it is not our mother tongue. But the question is how will the foreign coaches train the team when they cannot express what they want to say?
DAWAR NAQVI
Los Angeles, USA
THROUGH these columns I would like to draw the attention of the Higher Education Commission (HEC) chairman, Dr Attaur Rehman, towards the discriminatory policy adopted towards students who hold third division.
The HEC rules state that a person with a third division in his/her academic career is not eligible for any kind of HEC -funded scholarship and teaching position in any public sector university.
Students with a third division have virtually been denied of any academic contribution in their future, no matter how talented they are. A graph of high percentage doesn't necessarily guarantee that the achiever may turn out to be a good researcher or academician in his future.
Given the educational performance of our country, it is unfair to restrict opportunities to those with only higher grades. There are many deserving young people with third degrees, who can make a brilliant career in research and academia but they feel utterly sidelined.
MANZOOR A SHAH
Peshawar
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