Author: Maxter ʚïɞ

This author has written 2722 articles

SUMMARY of the article “Privatising PIA as going concern?”, Shahid Kardar, Published on October 28th, 2023

The article highlights the issue of privatising State-Owned Enterprises (SOEs) in Pakistan, with a focus on the example of Pakistan International Airlines (PIA). Over the years, SOEs in Pakistan have incurred substantial losses, with the top 10 loss-making SOEs accumulating over Rs2.1 trillion in losses between 2013-2014 and 2018-2019. PIA, in particular, has faced significant challenges, with a current loss of Rs713 billion and diminishing operational capabilities. The government’s proposed solution is to privatize PIA partially by hiving off non-core functions and assets and transferring debt liabilities to another corporate entity. Core assets identified for sale include routes, landing rights, core engineering services, and air service agreements. However, the article emphasizes the need for clarity regarding the value of these assets and the prospective buyer’s perception of the remaining liabilities. It also raises questions about the worth of PIA’s aircraft, » Read More…

Detailed SUMMARY of “Gas challenge,” Dawn Editorial, October 26, 2023

The interim government’s recent gas pricing reform, aimed at recovering Rs345 billion from consumers, is viewed positively from a policy perspective. This step aligns with the goals of the $3 billion Stand-by Arrangement with the IMF, which was signed in July. It is expected to slow down the growth of the gas sector’s ‘circular debt,’ which has reached over Rs2.1 trillion. Additionally, the reform is intended to prevent the two gas utilities from going bankrupt, discourage inefficient fuel usage, and incentivize exploration companies. However, from the public’s standpoint, the price increase of up to 193% for various consumer categories may contribute to inflation, which is already a » Read More…

SUMMARY of “Dangers of Escalation,” Maleeha Lodhi, Published in Dawn on October 23rd, 2023

The article delves into the ongoing conflict between Israel and Gaza, highlighting the risks of its escalation into a broader Middle East conflict. The author points out two key developments that put the U.S. role in this crisis under scrutiny. Firstly, President Joe Biden’s visit to Israel amidst the war and secondly, the U.S. veto of a UN Security Council resolution calling for a “humanitarian pause” in the hostilities. President Biden’s visit took place shortly after an Israeli strike on Al Ahli hospital in Gaza that resulted in a significant loss of life, leading to widespread international condemnation. International legal experts deemed this strike a war crime and a violation of humanitarian law. President Biden’s one-sided stance, showing unwavering support for Israel, raised concerns, and his agreement with Israel’s claims without evidence » Read More…

Detailed SUMMARY of “Closer to midnight,” Dawn Editorial, Published on October 22, 2023

The growing divide between Russia and the US, primarily exacerbated by the Ukraine crisis, has severely hindered cooperation on nuclear arms reduction, posing a significant global risk. Recent developments saw Russia’s State Duma voting to withdraw Moscow’s ratification of the Comprehensive Nuclear Test Ban Treaty (CTBT), which aims to prevent the testing of atomic weapons worldwide. Historically, all nuclear powers have adhered to this pact, with no nuclear tests for decades, except for North Korea, which conducted tests in 2017. Russia itself has not conducted nuclear tests since the Soviet Union’s dissolution. However, rising tensions between Moscow and Washington increase the likelihood that either nation might alter its nuclear stance. Russia is believed to possess the largest nuclear stockpile globally, followed by the US. Yet, the US lacks the moral high ground to criticize Russia’s CTBT withdrawal, as it never ratified the treaty. Earlier this year, Russia also withdrew » Read More…

Detailed SUMMARY of “Great Expectations,” Basil Nabi Malik, Published on October 21, 2023

Chief Justice of Pakistan, Qazi Faez Isa, has taken quick actions to execute his judicial vision, holding a full-court meeting, constituting a full court to hear a contentious matter, and broadcasting its proceedings. However, the real evaluation of his tenure begins now. The judiciary faces pressing issues, with concerns about its image at the forefront. There’s a perception that senior judges’ personal preferences and political inclinations influence the Supreme Court’s decisions, damaging its credibility and impartiality. The process of case fixation and prioritization remains obscure, raising allegations of partisanship. Justice Isa championed transparent criteria for judges’ appointments, which should now be evolved in consultation with stakeholders. To manage the ongoing cases of political significance, a dedicated bench » Read More…