Posts Tagged ‘pakistan’

Last Friday proved to be disappointing and shameful for investment fraternity in Pakistan when Pakistan’s apex corporate regulator, Securities and Exchange Commission of Pakistan (SECP), finalized its nine months long investigation into, what could be called, as Pakistan’s first insider trading case.

According to the available documents – SECP revoked the license of Dawood Capital Management and imposed a penalty of Rs 2 Crore on its CEO Tara Uzra Dawood.

According to an interview to Saturday Post, Tara Uzra proudly explained Dawood Capital Management as Pakistan’s first listed asset management company and the only investment advisory to specialize in the money management of women, children and charities.

Tara Uzra Dawood, who is a graduate of Cornell University and Harvard Law School, who is also writing as a freelance writer for The Toronto Star, Dawn, The Friday Times and Libas International, was found guilty of having defrauded investors in the mutual funds managed by Dawood Capital by taking leverage of her position as CEO and her knowledge of an impending write-down in the value of the mutual funds.

SECP’s investigations revealed that Dawood Capital Management had invested in corporate bonds issued by several companies including Pace Pakistan, Maple Leaf Cement Factory, Pak Elektron, and Telecard, that had defaulted on their obligations to bondholders.

In a meeting of the company’s audit committee held on February 21, 2012, Dawood Capital’s auditors advised that the company take a write-down on the value of the investments in the bonds issued by those companies.

The board of directors meeting held on the same day approved that course of action, though it was decided that the precise amount of the write-downs would be determined and approved at the next board meeting, to be held on April 28, 2012.

At that next board meeting, it was decided that the value of the Dawood Income Fund needed to be written down by 7.36%, the Dawood Islamic Fund by 16.8%, and the First Dawood Mutual Fund by about 9%. The new, lower values would take into effect on April 30.

But, just before the meeting, between April 6 and April 26, Tara Dawood, her brother Ayaz, her mother Hamida, sold their stake worth around Rs 1.55 Crore to avoid possible losses and taking advantage of her position and knowledge as the CEO of Dawood Capital Management.

Other affiliated companies of Dawood Group managed to get rid of Rs 11 Crore of units in soon to be devalued fund.

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Tapping into Pakistan‘s Massive Oil and Gas Reserves – Reason Behind WAR Against TERRORISM in PAKISTAN specially in Tribal areas.

Pakistan’s Tribal Areas (FATA) and Frontier Regions (FR) are believed to have massive reserves of oil and natural gas—which Pakistani officials have suddenly become very keen to demonstrate. But this is a highly restive, war-torn area where one right move could make all the difference, and one wrong move could ignite a conflict with irreversible consequences.

For now, the area remains unexplored and it was only in 2008 when Pakistani geologists began to study the area in earnest, with the support of the local authorities in the Federally Administered Tribal Areas (Fata) and the Frontier Region (FR). The results of this research were collected, processed and digitized in June 2012. The geologists discovered seven new oil and gas seepages during the mapping. The geologists also claim that 11 oil and gas exploration companies have already reserved 16 blocks in Fata.

The potential:

•    Pakistani geologists say Fata in particular is poised to become a “new oil state” whose production could rival Dubai’s in only five years
•    The FR is bursting at the seams with gas, so they say

Here’s what the interest looks like so far:

•    17 companies have initiated operations in Fata/FR (in Khyber, Orakzai, North and South Waziristan, Peshawar, Kohat, Bannu, Tank and DI Khan) and those areas are under drone attacks of …..,

•    Tullow has been active in Pakistan since 1991,…

Not a single political party of Pakistan mention it in their manifesto or future and economic growth of the country, Hardly they visit and make political gatherings over their scare to die in DRONE…………………………………………

BUT THERE IS A GOOD DAY TO DIE HARD….

He only arrived from Canada last month and already he’s sparking protests and making headlines with his demands for a radical overhaul of the current political system.

Why is a Canadian Islamic cleric marching on the streets of Pakistan and talking about creating a “peaceful” Tahrir Square in Islamabad?

This is the question which has been perplexing many political analysts and TV anchors in the South Asian country over the past few weeks. This weekend supporters of Dr. Tahir ul Qadri, a dual Canadian nationality holder who arrived in Pakistan last month, led a march of tens of thousands (it was supposed to have been millions) from Lahore to Islamabad to stage a sit-in in order to bring about political reforms in the country. His demands include the dissolution of the Election Commission and ensuring the candidates standing for election pay taxes. He has also made a call on dissolving the assemblies and the formation of a caretaker government.

But what gives a religious scholar, particularly one who has been living in Canada for some seven years, the right to put forward such radical demands? The timing of this protest, only months before a scheduled national election, is also troubling; it risks derailing an already fragile democracy.

Certainly Qadri is a contradictory man. While he presents himself as a supporter of democracy, he was elected to parliament under the previous dictatorship of General Pervez Musharaf in 2002. A bigger question to ask is where he is getting all these funds to spend on his campaign? Since last month the city of Lahore has been flooded with Qadri posters advertising his arrival and call for change. TV advertisements have also been airing frequently. On the backs of rickshaws his photo has become the most popular advertisement staring back at all vehicle drivers. One TV station at his sit-in in Islamabad interviewed a woman who described how she had never planned to come to the protest. But after her power supply and cable TV were cut-off she decided to join the protest as she was so fed-up. A few protesters even talked about having traveled all the way from Canada and the United States to participate.

 

Lots of q’s asked to him which are still unanswered by him.

Pakistan contributes 10,691 peacekeepers around the world, the largest contingent of UN peacekeepers by any country.

Current Deployment:
Congo (since 1999)
Liberia (since 2003)
Burundi (since 2004)
Côte d’Ivoire (since 2005)
Sudan (since 2005)

United Nations peacekeeping missions involving Pakistan
Congo (August 1960 to May 1964)
West New Guinea (October 1962 – April 1963)
Namibia (April 1989 to March 1990)
Kuwait (December 1991 to October 1993)
Haiti (1993 to 1996)
Cambodia (March 1992 to November 1993)
Bosnia (March 1992 to February 1996)
Somalia (March 1992 to February 1996)
Rwanda (October 1993 – March 1996)
Angola (February 1995 to June 1997)
Eastern Slovenia (May 1996 – August 1997)
Sierra Leone (October 1999 to December 2005)

Amid a controversy over whether Pakistani army chief General Pervez Musharraf crossed the Line of Control in 1999 and spent a night on Indian-controlled territory, the former chief of the Indian army General VK Singh has said

Amid a controversy over whether Pakistani army chief General Pervez Musharraf crossed the Line of Control in 1999 and spent a night on Indian-controlled territory, the former chief of the Indian army General VK Singh has said, “As a military commander, I commend General Musharraf  that he came 11 kms into enemy territory and spent the night with his troops. It is a testament to his internal courage… on the other hand, from our side, what was happening all of you know..Why did we let them in? There were some lapses on our part.”

Col (retired) Ashfaq Hussain, who was a senior officer in the Pakistan Army’s media arm , claims that in March 1999, ahead of the Kargil war, President Musharraf flew over the Line of Control in a helicopter and spent the night at a place called Zikria Mustaqar.

Colonel Hussain  first revealed this version of events in 2008 in  his book ‘Witness to Blunder: Kargil Story Unfolds’, and repeated it on a television talk show in Pakistan last night.

General VP Malik, who was the Indian army chief during the Kargil war, told NDTV: “The Indian Army had reports that the first Pakistani patrols had crossed over into Indian side of the LoC some time in February even as Prime Ministers Atal Bihari Vajpayee and Nawaz Sharif were discussing the peace process and Vajpayee had taken the bus ride to Lahore. Gen Musharraf, who had already planned the incursions into Kargil thought it fit to visit the forward areas immediately thereafter to assure the troops that the operation was going ahead as planned. It is therefore possible that Musharraf went there in March 1999 but whether he crossed the LoC or not, I cannot say.”

Khadim-e-Alaa Busy in Donating Public Funds …………………………………………making fool  out of nothing at all.

 Note: click the headline  for detail story….

marines

This is the body of one of ten TTP attackers who were involved in Saturday night’s brazen attack on Peshawar International Airport. Does this really look like some “crazed Islamic fundamentalist” to you? The tattoos on his body are raising many questions about the real identities of those behind the assault and who the TTP really are. Many in the media have been pointing towards American interference in the past, considering that the United States and NATO forces have publicly said they will not attack any TTP training grounds or hideouts in Afghanistan because as quote “the TTP do not attack us”. What a logical explanation…the people responsible for attacking Malala Yousufzai happened to have come from Afghanistan as well, it’s ironic that America claims to be fighting a “War on Terror” yet refuses to go after people who commit terror.

Points worth noting:
1. If TTP is working on an “Islamic agenda”, don’t they know that “tattoos” in Islam are forbidden? One of the Ulemas has also reinforced this by saying “…it was astonishing to see the body with a horrible face tattooed on his body…Islam does not allow drawing tattoos…”2. Pakistan security officials have repeatedly found pornographic films, male potency drugs and alcohol bottles while raiding TTP hideouts over the past few years. The same were found among the militant hideouts in Swat during the Swat operation a years ago. If the TTP is working on an “Islamic agenda”, what need would they have for pornography, alcohol and male potency drugs?

After this incident, among many others in the past, it should be clear in our heads that there is no “Islamic Jihad” being run against Pakistan. If this was really a “Islamic Jihad”, the TTP would not be bombing and attacking innocent people in Pakistan but rather go after government officials – ironic that not a single Pakistani politician has been attacked by the TTP.

It should be clear to us now, that the TTP is actively being funded and supported by the United States via the puppet state of Afghanistan in an attempt to destabilize Pakistan.