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A media report tells us that government of Pakistan shall we say the Prime Minister is considering the sale of Pakistan Chancery, 34-36 Lowndes Square, London. It is a mystery as to who floated this heinous idea. Sartaj Aziz's and Tariq Fatemi's names are being mentioned who are advocating the sale. Fortunately, the Privatisation Commission is against the sale.

I am writing in reaction to a story I saw on an international news channel titled 'Broadband tax hits Pakistan internet users'. The link is available online and the story behind it paints a picture of gloom and doom for internet growth and penetration.
This refers to "A yielding PKR" carried by Business Recorder last week. The op-ed writer, Syed Bakhtiar Kazmi, has raised a very pertinent question with regard to PKR-US dollar parity: He has asked: "The obvious question is why has the SBP not arrested this slide again? The not so obvious answer can be twofold; lack of ability or change in the desired band. The former is rather frightening and is discounted assuming healthy forex reserves and good friends still willing to come to Pakistan's aid; the latter begs the question why does SBP believe that the rupee should be devalued?"
This refers to the letter of Aneesur Rahman "Highly controversial step by SRB" carried by Business Recorder on September 29, 2015. There is no doubt or dispute that in terms of the exclusion under serial No 49 of Part-1 of the Fourth Schedule (Federal Legislative List) of the Constitution, the matters relating to sales tax on services is the exclusive domain of the provinces.
Business Recorder op-ed writer A. B. Shahid in one of his recent columns for the newspaper has passionately argued in favour of ancient Great philosopher Plato. According to him, "While politicians claim giving Pakistan a democratic set-up, the "Republic" of Pakistan doesn't reflect any attribute that Plato specified in his historic book "The Republic". Nor do politicians realise that, after being exposed as the lot that used state power for self-benefit, not for giving the country a progressively fairer and more responsible administration, their game is over. No democratic regime (including in the West) portrays the republic Plato advocated because no political party made his theory the basis of its philosophy the way did the philosophies of Karl Marx and Mao Zedong. But the failure of these philosophies too revived the demand for the system Plato advocated, and the rise of the leftist Jeremy Corbyn to the leadership of Britain's Labour Party too won't work." But the writer seems to have lost the sight of Aristotle's criticism of Plato's 'The Republic' or Plato's political philosophy. There is no doubt about the fact that some, including honourable writer A. B. Shahid, have received it as a rational approach to politics. There are, however, some others who view 'The Republic' as a mere product of a delusive mind.
Federal Legislative List at serial No 47, 48, 49 and 50 of the Constitution of Pakistan, 1973 reads as under:
This refers to a Business Recorder news item "Assad must go, but when is negotiable: Kerry" carried by the newspaper. The US Secretary of State has been quoted as saying "Syrian president Bashar al Assad must step down, but not necessarily immediately upon reaching a settlement to end the country's civil war."


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln