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PSX stays bullish, gains 1,159 points
ISLAMABAD, Dec 1 (APP):The 100-index of Pakistan Stock Exchange (PSX) continued with bullish trend on Friday, gaining 1,159.98 points, a positive change of 1.92 percent, closing at 61,691.25 points against 60,531.27 points the previous trading day.
A total of 531,334,211 shares valuing Rs 21.558 billion were traded during the day as compared to 467,159,704 shares valuing Rs 18.752 billion the last day.
Some 388 companies transacted their shares in the stock market; 298 of them recorded gains and 74 sustained losses, whereas the share prices of 16 remained unchanged.
The three top-trading companies were Maple Leaf with 43,072,746 shares at Rs42.36 per share, Pak Elektron with 39,797,114 shares at Rs 18.97 per share and Fauji Fert Bin with 27,568,000 shares at Rs 24.56 per share.
Rafhan Maize witnessed a maximum increase of Rs 756.77 per share price, closing at Rs 10,856.77, whereas the runner-up was Ismail Ind with a Rs 93.28 rise in its per share price to Rs 1,337.06.
Unilever Foods witnessed a maximum decrease of Rs 1,000.00 per share closing at Rs 21,500.00, followed by Siemens Pak with a Rs 58.15 decline to close at Rs 717,18.
Indian Muslims’ marginalization under Hindutva regime deteriorating consistently: Prof Jaffrelot
ISLAMABAD, Dec 1 (APP): Senior Research Fellow, Center for International Studies and Research (CERI) in Paris, Prof. Christophe Jaffrelot on Friday said the Indian Muslims’ marginalization under Hindutva regime was deteriorating consistently resulting economic and educational deprivation.
He made these remarks during a roundtable discussion titled “The Plight of Minorities under Modi’s India” as the guest speaker.
Prof. Jaffrelot while opening the discussion, briefed the participants that his research focused on collective endeavor to document the condition of Indian Muslims today, that relied on qualitative and quantitative data based on ethnographic studies through interviews of the victims and people hailing from Muslim community in India.
He added that the marginalization of Indian Muslims was based on social and economic status of Indian Muslim and their education in India.
“On many grounds the situation was not good but it deteriorated further at many new grounds. The Muslim communities have always been decapitated since 1947,” Dr Jaffrelot said.
The French social scientist on South Asian minorities said the representation of Muslims among Indian Civil Service (IAS) officers between 1978-2016, joining IAS, has never been more than 7 percent, whereas the Muslims comprise of 14.5 percent of the total population of India as per the 2011-2021 census.
The situation, he said in Police department was also not different as the gap widened due to increased under representation of Muslims in IAS, adding, “The Muslims of IIOJK not included in IAS which is not more than 3-5 percent.”
The Professor commented that the Muslims over representation was only in jails. Moreover, while considering the appointments in judiciary, Supreme Court appointments of justices, there were not more than three Muslims since 1950s that had reduced to only one at present. He added that there was declining representation of Muslims at the national and state level assemblies as the Muslim members of the Parliament (MPs) in Lokh Sabha from 1980-2019 which indicated quasi proportion of Muslims in the Lokh Sabha (national assembly) that was less than 5 percent post-2014 and less than 4.9 percent by 2019.
He commented that the decline in Muslim candidates and members over the decades in Lokh Sabha was directly linked to rise of the Bharatiya Janata Party (BJP).
“State politics is significant in India. In Andra Pradesh, there were 89 seats in Lokh Sabha, whereas Samaj Wadi Party in 2012 rose to power and had 17 percent Muslims’ representation. However, Yogi Adityanath’s rise in that state led to stark decline in number of Muslim MPs,” he added.
In Gujrat, he said the representation of Muslims was not more than 2-3 percent whereas West Bengal and Kerala are interesting states as their is no BJP rule. “West Bengal has an increase in number of Muslim MPs due to state policy under Mamata Banerjee,” he added.
In 2019, the per Capita wealth at large of Muslims and Hindus had a huge gap, whereas the share of the wealth of Muslims was only 9.5 percent (14.5 percent population of India), Hindus upper cast are only 15 percent of population with 36.1 percent share in wealth, he added.
“Muslims have hardly access to government jobs and there are few Muslims making it with only 6.5 percent of the public sector employees . Most of the Indian Muslims are self employed (42 percent), 22 percent are casual labours and 63 percent are in poor socioeconomic condition,” he added.
Prof. Jaffrelot noted that the Indian Human Development Survey was the only source providing caste wise situation of India. “It shows that an increasingly large number of dalits (lower caste Hindus) are more represented than Muslims who are scheduled caste of 15 percent of public sector jobs. Muslims are twice poor than lower caste Hindus,” he added.
Moreover, in education sector, 4.3 percent Muslims were graduates in India and Hindus were twice more than that of the Muslims. “There is difference in the Muslim’s Education of the North and the South. In Uttar Pradesh, Muslims population among graduates had declined from 14.1 percent to 12 percent who are attending higher education institutions,” he added.
The reasons to the it were mainly the lack of protection of Muslims beyond their community, money problem and lack of access to wealth barring Muslims from education.
Earlier, in his welcome remarks, Director General, ISSI, Ambassador (R) Sohail Mahmood said that Prof. Jaffrelot was one of the leading scholars on South Asia, who have prolifically written on minorities in India.
He pointed out that India had underwent great change after the rise of the BJP regime under its Hindutva ideology aimed to turn India into a Hindu state.
The mushrooming of vigilante groups, public conflicts and the rising extremism had accentuated minorities discrimination in India, he said, adding, “The conversion of local Muslim majority into Minorities in Indian Illegally Occupied Jammu and Kashmir (IIOJK) is repugnant to international laws and the UN resolutions.”
Dr Christopher had meticulously mapped India’s extremism paradigm and designs who has rigorous scientific reasons for three democracies that had evolved since partition and incurred implications on the region that had detrimental effects on the middle and lower castes.
In current phase, India was transforming into Rashtriya Hindu Raj to Hindu Authoritarian Raj, he added.
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Trade deficit shrinks by 33.59 percent, export grow by 1.93% in 5 months
ISLAMABAD, Dec 1 (APP):The country’s merchandize trade deficit contracted by 33.59 per cent during the first five months of the current fiscal year compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.
The Trade deficit from July-November (2023-24) was recorded at $9.378 billion as against the deficit of $14.122 billion in July–November (2022-23), showing negative growth of 33.59 per cent.
During the period under review, the exports increased by 1.93 per cent to $12.172 billion compared to the exports of $11.942 billion during the corresponding period of last year, according to the latest PBS data.
On the other hand, the imports narrowed by 17.32 per cent and were recorded at $21.550 billion compared to $26.064 billion last year.
Meanwhile, on a year-on-year basis, the exports from the country increased by 7.66 per cent in November compared to the exports of the same month of last year. The exports during the month were recorded at $2.572 billion as against the exports of $2.389 billion in November 2022.
On the other hand, the imports during November 2023 were recorded at $4.460 billion compared to the imports of $5.154 billion in November 2022, showing a decrease of 13.47 per cent, according to the data.
On a month-on-month basis, the exports from the country decreased by 4.39 per cent when compared to the exports of $2.690 billion during October 2023.
The imports into the country went down by 8.31 per cent when compared to the imports of $4.864 billion in October 2023, PBS reported.
Meanwhile, the services’ exports during July-October (2023-24) earned foreign exchange worth $2,416 million as compared to exports of $2,338 million during the same period of last year, showing growth of 3.34 percent.
The services’ imports into the country also increased by 19.57 percent by going up from $2,729 million last year to $3,263 million during the first four months of current fiscal year.
Based on the figures, the services’ trade deficit increased by 116.66 percent during the period under review by going up from $390 million last year to $847 million this year.
Chairperson BISP proposes establishment of Endowment Fund to improve economic condition of poor
ISLAMABAD, Dec 01 (APP): Chairperson Benazir Income Support Programme (BISP), Dr. Muhammad Amjad Saqib Friday proposed the establishment of an endowment fund to improve the economic conditions of needy households, considering it a social responsibility to create an exemplary institution in the form of the BISP.
During his visit to the BISP Zonal Office South Punjab and District Office Multan, Dr. Muhammad Amjad Saqib expressed his commitment to the welfare of needy women and the sustainability of the programme.
Dr. Amjad Saqib heard the concerns of needy women and directed relevant authorities to resolve their issues promptly.
He directed the staff to ensure transparent payments, and also emphasized dialogues with POS agents and instructed the team to facilitate needy people with available resources, said a news release.
Dr. Amjad Saqib stressed the importance of maintaining cleanliness standards in offices and treating needy women with respect and empathy emphasizing the human-centric approach of BISP.
In an address to BISP employees at Jamia Masjid Dream Garden Multan, Dr. Amjad Saqib reiterated the significance of the program, highlighting its budget of 471 billion rupees allocated by the government of Pakistan.
He described financial assistance to 9.3 million poor families as an expression of love, sacrifice, and brotherhood.
Dr. Amjad Saqib expressed the aim to make BISP a sustainable program for public service, asserting that assistance to poor families is not charity but their right.
Dr. Amjad Saqib emphasized on lifting needy households out of poverty, connecting children from such families with technical skills, and highlighting the importance of small businesses in poverty alleviation.
He also listened to suggestions from BISP employees for program enhancement, showcasing a collaborative approach to refine and strengthen Pakistan’s social protection initiatives.
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Cold and dry weather likely in most parts of country:PMD
ISLAMABAD, Dec 01 (APP): Pakistan Meteorological Department (PMD) has forecast mainly cold and dry weather for most parts of the country.
Smog/fog is likely in upper Sindh, plain areas of Punjab and Khyber Pakhtunkhwa during morning.
According to the synoptic situation, continental air was prevailing over most parts of the country.
A westerly wave was still affecting northern parts of the country.
During the last 24 hours, rain-thunderstorm with snow over the mountains occurred in upper Khyber Pakhtunkhwa, Kashmir and Gilgit-Baltistan.
Cold and dry weather prevailed elsewhere in the country.
The rainfall recorded was Kashmir: Muzaffarabad (City 28mm and Airport 22), Garhi Dupatta 06, Rawalakot 03, Khyber Pakhtunkhwa: Balakot 16, Kalam 11, Dir (Upper and Lower 10), Saidu Sharif 11, Malam Jabba 07, Kakul, Pattan 03, Chitral, Drosh 01, Gilgit-Baltistan: Bagrote, Chilas, Gilgit and Hunza 01mm.
The lowest minimum temperatures recorded was Leh -06 C, Kalam and Kalat -02 C.