SECP as a regulator

THE Karachi Stock Exchange is continuing on its roller coaster ride, causing missed heartbeats and sleepless nights to many an investor.

Whatever may be the eventual findings of the inquiry into the affair, one thing is obvious to all market watchers. The Securities and Exchange Commission of Pakistan must start behaving like a regulator with teeth. Its bite should be feared. The zero-tolerance behaviour of America’s SEC, which relies on deterrence, should be used as a role model for the SECP’s market regulation activities. We have seen that in the US when a celebrity like Martha Stewart was caught, she had to serve jail time and has had her movements restricted.

Recently, the SEC caught 15 brokers of the New York Stock Exchange on a charge of “trading ahead”, i.e., buying and selling shares ahead of customers’ orders and pocketing the difference. The traders are accused of making an amount of $32.5 million.

But as a result of civil charges, their firms have already agreed to pay $247 million while criminal charges are yet to be tried in court.

Columbia University law professor John C. Coffee Jr. says “the prosecutors are recognizing that, across the financial field, the one weapon that seems to work, frightening as it is, is the criminal sanction”. Food for thought for the SECP.

K. ABDUSSALAM
Kuwait

The heart of the matter

MR Irfan Husain’s column, “The heart of the matter” (April 16) questioning the bona fides of the clerical establishment indeed goes to the heart of the matter.

What goes on as righteous indignation in the grand rallies of the clerical class is nothing but a screen for fear and a severely compromised faith. They fear women who, according to them, ought to be locked up, unheard, unseen, and unmourned.

Their faith is wobbly and easily shaken by anyone who dissents from their narrow-minded orthodoxy.

What is surprising, however, is that many in the educated elite outdo the mullah class in matters of obscurantism. Few thinking men and women will forget that one of the most ringing parliamentary defences of honour killings was made by none other than a former Senate chairman who belonged to a “mainstream” party and was educated at Oxford. And lest we forget, the most sweeping attempt at creating a constitutional “khalifa” with absolute powers was made by another smooth shaven man who has suddenly become the champion of pluralism and democracy in exile.

For evil to triumph, Edmund Burke declared, all that is necessary is for good men to do nothing. One wishes that good men actually did do nothing: unfortunately for Jinnah’s Pakistan, many good men have been in intra-mural competitions about who can appease evil the most.

ESAM SOHAIL
Missouri, USA

DCET principal

PAKISTANI, Muslim and American communities in New York, New Jersey and Connecticut are shocked and deeply troubled over the murder of educationist and scholar Dr Mohammad Saleem Chaudhary on March 25.

Dr Chaudhary earned a PhD in chemical engineering from England. He was a professor at the Dawood College of Engineering and Technology (DCET) in Karachi since 1974 and became its principal four years ago.

Dr Chaudhary had dedicated his life to his profession, his family, and most of all to his country. More than 30 years ago he had the opportunity to settle abroad. However, he chose to return to Pakistan. He had the utmost value for discipline and honesty, and strove to implement these characteristics into the educational system at the DCET. He struggled, as principal, to bring reform to the college. These were reforms that we, as Americans who send our children to Pakistan to study in fields like engineering, medicine, dentistry, and a multitude of others, would like to see applied at other colleges as well. Just as the students and the community were beginning to benefit from the fruits of his labour, Dr Chaudhary’s life and dreams were abruptly ended.

The only way to bring some peace to Dr Chaudhary’s family, friends, colleagues, and students is to investigate this matter thoroughly and efficiently. We urge the leaders of Pakistan to condemn this barbaric act, to arrest the culprits and to show them and their supporters the meaning of justice.

56 CONCERNED CITIZENS OF AMERICA
Via email

Civic responsibilities

MANY sewerage-related problems are highlighted in these columns. Some are addressed and some still remain pending because of the negligence of the authorities concerned. But what I would like to narrate over here is a different story. A gutter was overflowing in Block 4A, Gulshan-i-Iqbal, Karachi. Many complaints were lodged with the authorities concerned but as usual no step was taken to address this problem.

Interestingly, the gutter belonged to the people residing in a separate lane. But due to our sloping road, the water started gathering in our lane. It was really sad to see that no one from the other lane ever bothered to lodge a complaint or do anything about it. Finally, we had to pay a sweeper to remove the dirt and filth.

What I want to say here is that we have been criticizing government agencies for their negligence for a long time. But what has happened to us? If a problem exists and is not being addressed, something should be done on an individual or community basis to sort solutions to problems. When we spend so much on other things, why are we reluctant to spend a little on improving the environment in our localities? I am sure this is a problem faced in many areas of the country.

We should all be more concerned about improving our localities and solving our problems.

SIDRA RAFIQUE GOODA
Karachi

Late trains

I WANT to draw your attention to a problem being faced by hundreds of passengers travelling between Faisalabad and Lahore by the so-called “non-stop” trains.

I am studying in Lahore and have to travel between Faisalabad and Lahore twice a week. But the trains are often late — one has to wait a minimum of 40 minutes to a maximum of three hours for the non-stop trains and no end for local trains.

Last week I travelled by the 109-Up Badr Express and it took more than three hours to reach Faisalabad. Its scheduled time was 8:10pm but it reached at 10:10pm. The reasons for being late were unusual crossings from down trains and unwanted stoppages. Consider this too: the Faisalabad metro bus service is hardly available after 10pm.

The same is the case with the Faisal and Ghauri trains which have been running late daily approximately by more than one hour. The durations for these non-stop trains mentioned in the time-table is one hour and 40 minutes but they have never covered the 142-km distance in time.

I request the controller to check the record of the late arrival of the non-stop trains, and if they can’t be run on time to close them and not misguide passengers.

MAROOF HUSSAIN
Lahore

Passport turmoil

TO apply for new passports five members of my family including myself went one morning around ten o clock to the Awami markaz. First of all was the problem of car parking which teaches you not take your car there.

As we entered the building, hordes of agents attacked us to offer any help they can provide us. Many victims fall victim to them as we observed and overheard the complaints that “We want our money back. You have charged us Rs.500 only to show where the queue is...”and so it goes.

Anyway, after depositing the fees we went to join the unending line in a dark unventilated area. Ladies and Gents stand side-by-side and for once women complain as many intruders try to intervene and pass by pushing us ladies, which is very annoying. There were many who had their babies with them and were suffering alongside too. After about four hours I finally reached the token counter after which the thumb impression and photograph steps seemed to have taken place in no time. All in all it is a whole day’s activity but if one leaves very early from home it can take a little lesser than this. More offices are badly needed not only for those applying for passports but also for the officials as it will ease off their load too.

WAJIHA ZEHRA MIR
Karachi

Gas supply

WE write with reference to the letter of Mr Khurshid Anwar Khan (April 4).

We asked our SDE I/c Sargodha to visit Mianwali and to look into the complaints mentioned in the letter referred to.

A meeting was accordingly convened by him with the district nazim, the DCO, a representative of the chamber of commerce and industry and the Anjuman-i-Tajiran, Mianwali. SDE I/c Sargodha informed the participants about the actual position and assured them that gas connections would be provided in Mianwali strictly on merit or on a turn basis.

NAEEM A. KHAN
Chief Officer (PR), SNGPL Lahore

Pakistan cricket victory

THE victory against India is special in the sense that it came without a super-hero and the whole team played its part in a professional way.

But there are some areas of improvement which we should not forget. First, Shahid Afridi’s played really well, but the pitches on which he performed were flat surfaces with no movement at all or little movement. Such pitches suit his style. But for the pitches in Australia, South Africa or England we need a specialist opening batsman. One is Salman Butt and the second choice should be Yasir Hameed as it will give a right-left combination. Shahid Afridi must bat lower down but he may come up the order if the situation so demands.

Secondly, for the selectors, there is no automatic choice of 15 players. Shoaib Akhtar and Shabbir Ahmed are waiting outside. Saqlain Mushtaq is also getting ready. In the batting department we have Yasir Hameed, Imran Farhat and Taufiq Umar waiting as reserves. Asim Kamal is not getting a chance in the playing 11 as also Shahid Nazir. The selectors must be very careful when selecting the team — they should not make too many changes or rotations as this may affect the career of a good player as has happened before.

SYED AFAQ ALI Karachi

(II)

A YEAR ago, after losing to India in the Test and the ODI series on our own soil, our cricket ship was rocking in rough waters with an uncertain future. To save it from sinking, the Pakistan Cricket Board took a timely decision and appointed Bob Woolmer to take control of our cricket team as a coach.

Mr Woolmer’s worth can be judged by the results of our 4-2 win in the ODIs and the 1-1 draw in Tests in the just concluded series with India. These results, achieved despite the depletion of our top bowling resources due to injuries, were better than anyone expected and speak volumes for the coach’s contribution.

The record 159-run defeat that our team inflicted on the Indian team in the final ODI in Delhi reflects the thoroughly professional performance of each member of our team. All our batsmen made runs, our inexperienced bowlers demolished the much- famed Indian batsmen with disciplined and incisive bowling, the fielders contributed time and again by running the opponents out by direct hits at the stumps and holding all the catches. The improvement in each department of our cricketers’ game is the result of the homework and the hard work of both our “laptop coach” and our “laid-back” captain.

However, the coach and the captain must remember that their job is not complete until we consistently defeat the other top teams and that includes Australia in particular and win the 2007 World Cup in style.

ILYAS ANWAR
Phulgaran village,
Islamabad

Overloading trucks on Superhighway

THROUGH your esteemed newspaper I would like to point out a recent step taken by the administration to control overloading of trucks on the Super Highway.

Barriers have been erected and speed breakers made on the Super Highway near Sohrab Goth, Karachi, to prevent over-loaded or over-

sized trucks from travelling through. It is a good step to protect our highways on which millions are spent. But private cars now face a traffic hold-up at nearly all times at these speed-breakers and barriers. I personally have stopped taking that route altogether and make a detour from Gulshan Chowrangi.

The over-loaded and over-sized trucks have started using the Abul Hasan Ispahani road to bypass these barriers and speed breakers. There is usually very heavy traffic on the road late at night which is a cause of great concern in terms of public safety.

In addition, Abul Hasan Ispahani road has not been designed or built to take such heavy traffic and already the signs of misuse have started appearing.

May I request the authorities to kindly check this misuse by heavy vehicles in the interest of the public?

CONCERNED CITIZEN
Karachi

Traffic jams

Karachi is the biggest city of Pakistan. Unfortunately on one side the city is growing and developing rapidly but on the other hand the citizens are facing some basic and major problems such as traffic jams. Traffic jams are caused by

a number of reasons but result in waste of time and money for all. These jams are also a health hazard for motorists.

For a proper flow of traffic we need better roads. Almost every road in Karachi is in a bad condition nowadays and the authorities does not seem interested to rebuilding them. A traffic jam always has many reasons behind it. For instance, bad roads, lack of traffic laws, mismanagement by traffic police and authorities, etc. So far there is no plan to address the issue.

SIDRA HUSSAIN
Karachi

Intelligence failures

THIS is with reference to Ameer Paul’s letter “US approval to release F-16s” (April 16).

The US government absolved itself of the act of invading Iraq and initiating a coalition-led war on the country, of which the consequences are still showing up in human suffering, and loss and damage to the country with an unstable environment.

The destruction of Iraq has been done without any trace of Iraq’s own WMDs. And the responsibility for the unjust and illegal action has been put on the American “intelligence” services, including the CIA.

ANAS A. KHAN Edmonton,
Canada

Stormwater drains

THE stormwater drains in North Karachi are currently in an appalling condition. They have not been cleaned for many years and are a health hazard. They are breeding places for rats, mosquitoes and flies.

Various representations made to the nazim have not yielded results. North Karachi is a bustling locality of the city and needs more attention.

HAMDAN SIDDIQUI
Karachi

Poverty alleviation

EVERY now and then we hear tall claims about poverty alleviation, but at the grass root level no major change has been witnessed.

As a business administration student, I feel that countries with a strong growth record, pursuing the right and required policies, can expect to see a sustained reduction in poverty, because there is a direct relationship between poverty reduction and growth. If strong pro-poor policies are pursued, then there is a better chance that growth will be amplified into faster poverty reduction. To achieve our required goals for poverty reduction it is mandatory to have sound macro-economic stability, because investors are like birds — they come one by one, but leave together.

We should be creating a conducive environment for investment from Pakistanis living abroad and savings by locals. We need to be relying more on “trade” than “aid”

AFZAL RAHIM
Peshawar

Area with most schools

ONCE a question was asked in the TV quiz programme Neelam Ghar: “Which area in Pakistan has the most number of schools?” The answer was Gulshan-i-Hadeed, Karachi.

The increasing number of schools in a locality is a symbol of a rising literacy rate but here the case is entirely different as the standard of education is decreasing even as new schools are opened.

People have made it a business and by cheaply appointing teachers, with low education, they are misleading children.

Fees are much higher than the quality of education provided.

What needs to be done is to inspect all lower, secondary and higher secondary schools to determine whether qualified teachers, furniture, building and all essentials of a good schooling system are available or not.

FAROOQ BALOCH
Karachi

Voltage ups & downs

I WOULD like to draw the attention of the authorities towards the increasing voltage fluctuations.

The main reason for this problem is that many people are connected illegally to power lines. Many huge buildings are involved in theft of electricity with only one meter connected to a pole and 10-20 lines running from it.

The KESC is unable to ensure constant voltage for its users. If there is a locality that complains of power fluctuation, the KESC needs to investigate the problem thoroughly as this means that power theft is taking place nearby.

HINA KAUSAR
Karachi

Matter of choice

THE use of cold drinks has increased with the arrival of summer. There are several types of cold drinks available in the market which people choose according to their taste. But the matter is different at Punjab University. In the campus area, there is a restriction on the sale of some cold drinks.

The IJT student union has imposed the restriction on the basis that the manufacturers of these products are not from the ‘Islamic community’ and they are ‘enemies of Muslims’. This line of argument is wrong. We should be concerned only with what’s better in quality.

It is the duty of the university administration to ensure the availability of all types of products as every person has the right to use the best.

NAVEED AHMED
Punjab University
(New Campus)
Lahore