Pakistan's stockmarket <b>The world's most dangerous haven</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->THIS newspaper calls it âthe world's most dangerous placeâ. Mark Matthews of Merrill Lynch calls it âthe greatest information-arbitrage opportunity in the world.â He may be right. Since the start of the year, when Pakistan was reeling from the assassination of Benazir Bhutto, <b>it has been the best-performing stockmarket in Asia </b>(see chart). More evidence of madness in financial markets? Probably not. <b>Its politics are bleak but the economy is expected to grow between 6.5% and 7% in 2008. Its companies continue, on average, to have a high dividendâ4%âand a low price/earnings valuationâunder 15 times</b>. Perhaps its main salvation is the lack of foreigners in the market: that means fewer people to panic about the security situationâor the subprime situation back home.
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Should I laugh or throwup?
<img src='http://www.economist.com/images/20080126/CFN673.gif' border='0' alt='user posted image' />
<b>U.S. diplomat from Hingham shot dead in Pakistan home</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->U.S. diplomat Keith Ryan, the son of Boston Globe sports columnist Bob Ryan, was found dead at his home in Pakistan yesterday, a day before he was due to fly back to the States.
Keith C. Ryan, 37, a father of three who was a Homeland Security attache at the U.S. embassy in Islamabad, apparently shot himself in the head, Pakistani police told news agencies. U.S. officials said foul play is not suspected, but an investigation is ongoing. A Pakistani newspaper, the News of Islamabad, citing sources on the post-mortem results, later reported that evidence <b>suggests Ryan may have been murdered</b>.
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<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KARACHI - <b>Pakistanâs export orders for Iran are being shifted to India</b> and other regional countries on account of inflexible attitude of SBP to the issue of letter of credit and discount rates offered by all scheduled banks as the central bank had already instructed all scheduled banks not to transact export commodity bills in Iranian currency and Euro, it was learnt on Monday.<!--QuoteEnd--><!--QuoteEEnd-->
<b>Bodies of 13 missing Pakistani soldiers found:</b> police KOHAT, Jan 30 (Reuters):
The bodies of 13 Pakistani paramilitary soldiers kidnapped by militants last week have been found in an abandoned vehicle, officials and police said on Wednesday. The bodies were recovered in Darra Adam Khel, a tribal area near the city of Peshawar in North West Frontier Province, where fighting broke out on Friday after militants seized four trucks carrying ammunition and other supplies for soldiers. âTen bodies have been identified while the remaining three are difficult to recognise,â said a police official, who declined to be named. âThey were apparently killed last week but their bodies were found today.â Some sources said the bodies were found earlier. Pakistani military spokesmen were not immediately available for comment. (Posted @ 18:50 PST)<!--QuoteEnd--><!--QuoteEEnd-->
Shia ???
01-31-2008, 04:07 AM (This post was last modified: 01-31-2008, 04:09 AM by Shambhu.)
Imran Khan was on the Democracy Now radio (Amy Goodman):
He said:
1. I was invited to US by the Pak-American community
2. America is making big mistake propping up Mush
3. Pak has lost more soldiers in War on T than US in Iraq and Afgh combined
4. Pushtoons take revenge on Pak for US actios eg after Bajour madrassa missile strike, suicide bomber killed pak soldiers in revenge
5. There are "different strains of terrorism, and each one has to have a different answer" (ie Kashmir is righteous indiginious muslim fight onlee)
6. US has to encourage democracy --free and fair elections -- in Pak
7. Bhutto should not have started to fight the election, she gave Mush a new lease of life (Amy asked "you mean she should not have *participated* in elections", Imran said yes, participated)
8. The elite in Pak are being pandered to (and added, by the way, I am one of them)..this should stop.
9. US media makes people think everyone in Pak is terrorist and Mush is the one fighting terror
01-31-2008, 07:51 PM (This post was last modified: 01-31-2008, 07:51 PM by Shambhu.)
January 30, 2008
Good one by Vikram Sood from HT -- via smartpants (intellibriefs):
<span style='font-size:21pt;line-height:100%'>Saving Pakistan from Pakistan </span>
Vikram Sood
For the country not to fall prey to jehad and the Taliban: a few, quick miracles
Pakistan today faces a crisis that is more serious than in 1971 when a fallback was available. An emirate of Waziristan is a reality, the Baloch continue to interdict supply lines, the Sindhis are angry, and the political movement is Punjab-centric this time. The people simply have to vote with their feet if they want to try and save their country. If they do not come out in their numbers or are intimidated from doing so, they will get a dispensation comprising the Taliban and the army. Mere voting in numbers may not be enough because Pakistanâs problems are not simply a matter of electing a government. It will take several miracles to save Pakistan from Pakistan.
It would be a miracle if a national government were installed in the run-up to the elections. Such a national government would naturally have to exclude all the jiyalas and the lotas that constitute the present government. But it would need to represent all the regions and main political parties.
It would need another miracle to hold free and fair elections and not be an exercise hijacked by the army and its Punjabi henchmen. This, in turn, needs other miracles. The Election Commission will have to be made independent all the way down to the nazims, the judiciary has to be cleansed of Musharraf appointees, the media are to be left free to report, political rallies must be permitted, and those in custody for daring to speak should be released. By all accounts, a tough task as neither is there time nor perhaps the inclination to do all this.
There is another complication here. It is not enough that the elections are perceived to be free and fair by European Union observers. They must be seen to be free and fair by the electorate. Any result that declares the PML(Q) as the victor will be seen as a managed result. And any result that shows the PPP and the PML(N) as the victors will not be acceptable to the âKingâs menâ. A series of bomb blasts now could postpone the elections further. This means continued instability because having mutilated institutions for years there are no shock absorbers left to absorb multiple tremors.
All these miracles are possible only if the miracle of miracles takes place. That would be if General (Retired) Musharraf were to realise that he was now the problem and not the solution. Blessed with an outsized ego, Musharraf describes his autobiography, as âa biography not only of a man, but of Pakistan as wellâ. In a recent interview with Der Spiegel, Musharraf declared that âon the day I think the people, the majority, donât want me any more and the day I think I have no contribution to make to this country, I will not wait a second. I will quit.â But many of those who oppose him have been locked up and silenced. Recently, a hundred retired generals and others got together and sent him a letter asking him to quit. Eventually, what might happen is on the fated Night of the Generals, they will come to him and tell him, politely perhaps, that to save the army, and therefore Pakistan, he must step down.
It is also naïve to expect that a man who spent his entire adult life plotting, planning and executing schemes to undo India and who referred to India as enemy country even in 2006, has suddenly become an enlightened peacenik. He has been forced to adopt this line for the present, and the moment the US loses interest in Pakistan he will revert to form; unless the US finds a replacement for him.
Three other miracles are required. The US must stop mollycoddling dictators in Pakistan. The manner in which Pakistan was allowed to go nuclear, acquire warheads and trade in nuclear technologies by successive regimes, including the present one, is a tragic testimony to failure of policy or mindless pursuit of self-interest. And almost simultaneously, Pakistan was allowed â or even encouraged â to become jehadi. Pakistanâs hopelessly misconstrued policies have only converted the unemployed young of Pakistan into terrorists who have now returned as unemployable jehadis to haunt their former masters. This now leaves the world petrified about Islamist terrorists armed with nuclear weapons. Statements from Washington and Islamabad have tried to assuage this fear. This evades the larger issue that the Pakistani State has systematically proliferated for decades which constitutes by far the bigger danger.
There is more to follow with an impatient Washington, unable to control Afghanistan, now contemplating active intervention in Pakistan which will further inflame passions in the country. Yet, the Taliban advance eastward into the NWFP and beyond must be rolled back. But how does Islamabad organise retreat from a mindset that is far more pervasive than is imagined?
Finally, the Pakistani army, accustomed to fostering terrorism but not trained to counter it, must tackle this new threat. And yet, it must retreat not just physically but metaphorically from the lives of the people of Pakistan. General Ashfaq Kiyaniâs instruction to the army to pull back from civilian appointments is a beginning. But the militaryâs multi-billion dollar corporate interests are far too large for it to pull out soon or completely.
Unfortunately, if neither the army nor the Taliban retreat, we are staring at an abyss as Pakistan is consumed by its own creations â jehad and the Taliban.
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KARACHI - Out of 53 items included in the Sensitive Price Index basket, 24 items (45 per cent of the total items) showed a YoY inflation between 10 to 60 percent while 15 items showed YoY inflation between 5 to 10 percent, 7 items recorded YoY inflation between 0 to 5 percent and 14 items showed no change or deflation in December 2007.
According to Inflation Monitor of SBP for December 2007, the major items that showed SPI YoY inflation higher than average SPI inflation level were rice, mustard oil, vegetable ghee, LPG and wheat.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>We must insist that General (Retd) Musharraf apologise for the Kargil Operation</b> which was more an example of professional incompetence than defiance of the Nawaz Sharif government whom he accuses of having agreed to the operation. <b>He must apologise for undermining the visit of the Indian Prime Minister Atal Bihari Vajpayee when Mr Sharif was prime minister.</b><!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->He must apologise for undermining the visit of the Indian Prime Minister Atal Bihari Vajpayee when Mr Sharif was prime minister<!--QuoteEnd--><!--QuoteEEnd-->
He visited ABV after his retirement. At the end, Mushy respect ABV.
I just want to see Modi and Mushy match, that will be something to watch or listen.
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD : <b>Several hundred retired armed forces men on Thursday urged their colleague, General (retd) Pervez Musharraf, to hand over power to the deposed Chief Justice Iftikhar Muhammad Chaudhry and join their ranks but most of their leaders refused to apologise for their past roles against democracy.</b><!--QuoteEnd--><!--QuoteEEnd-->
<b>Karachi, Feb 2 (PTI) Pakistan is prepared to discuss with India any reservations it may have about the Gwadar port being built on the coast of Balochistan province, the country's naval chief said today.
"If India has some concerns over Gwadar port, it may be discussed. However, we cannot stop our progress due to concerns from any quarters," he Admiral Muhammad Afzal Tahir told reporters.
Indian Navy chief Admiral Sureesh Mehta had said last month that the Gwadar port has "serious strategic implications for India".</b>
Speaking on the sidelines of a joint naval exercise being conducted by Pakistan and Saudi Arabia in the waters off the port city of Karachi, Tahir said: "We have always been saying that Gwadar port is a commercial port. It has no implications for any other naval force or any other country. It has been built for the development of Pakistan.
"If any one has any reservations, I can only say such reservations are unfounded. If any one still has reservations, they can talk to us about this," he said.
Mehta's remark had provoked an angry response from Pakistan's caretaker Interior Minister Nisar Memon, who claimed the statement as proof of India's "involvement in promoting terrorism in Balochistan".
Admiral Tahir visited Bandar Island in the waters off Karachi to inspect the joint exercise code named "Naseem-e-Bahar".
Seven Saudi warships and several Pakistan vessels are taking part in the drill. "The large military drill between the two countries is abundant proof of the brotherly relations between us," Tahir said. PTI.
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Indian Navy chief Admiral Sureesh Mehta had said last month that the Gwadar port has "serious strategic implications for India".<!--QuoteEnd--><!--QuoteEEnd-->
Why this place is not so important for Freedom fighters? Why they are working around this area?
02-03-2008, 10:30 PM (This post was last modified: 02-04-2008, 01:04 AM by Naresh.)
<!--QuoteBegin-Mudy+Feb 3 2008, 10:04 PM-->QUOTE(Mudy @ Feb 3 2008, 10:04 PM)<!--QuoteEBegin--><!--QuoteBegin--><div class='quotetop'>QUOTE<!--QuoteEBegin-->Indian Navy chief Admiral Sureesh Mehta had said last month that the Gwadar port has "serious strategic implications for India".<!--QuoteEnd--><!--QuoteEEnd-->
Why this place is not so important for Freedom fighters? Why they are working around this area?
[right][snapback]78007[/snapback][/right]
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<b>Mudy Ji :</b>
If there is a serious discussion, on a dedicated thread, and we have a sufficient number of participants then you will find that our Admiral is not so much worried about Gwadar but about the severe lack of Destroyers, Frigates, Corvettes, Missile Boats and most importantly Submarines. To this you can add Dedicated Naval Ports - Bases, Repair Yards including Dry Docks and finally the most important aspect i.e. the ability to attract New Entrants to the Officer Cadre.
The Air Craft Carrier is jut to tell Terroristan in the West and Bhookhanangadesh in the East :
<b>We have an Air Craft Carrier - You donât have, Naâ¦.Naâ¦. Na Na â¦. Na!</b> <!--emo&:rocker--><img src='style_emoticons/<#EMO_DIR#>/rocker.gif' border='0' style='vertical-align:middle' alt='rocker.gif' /><!--endemo-->
The Balochistani Freedom Fighters will only come into the Picture when there is a Commercial Aspect to the Port. As I see it - provided the situation does not change - there isnât much possible commercially. If it was then the Port of Singapore Authority, who have a Franchise to operate the Port for Thirty Years , would have got on the job and started work last year when they got the contract!!
Cottage industry is doing wonder, only positive growth in this area. <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->
<b>Suicide blast in Pakistan kills six </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->ISLAMABAD, Pakistan - <b>A suicide bomber on a motorbike rammed into a minibus carrying security personnel</b>, detonating a blast Monday that killed at least six people in the Pakistani city of Rawalpindi, police said.
The bus was destroyed and several other people were wounded in the explosion on a road running through a bazaar near the offices of the army's engineering department, police official Abdul Waheed said.
It was not immediately clear which branch of the armed forces the passengers were from. Police said the army had cordoned off the area.
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