Poverty can't be fought by driving tanks on farmlands: Nawaz Sharif

October 5, 2016

Islamabad, Oct 5: Pakistan Prime Minister Nawaz Sharif today hit back at his Indian counterpart Narendra Modi, saying poverty cannot be eradicated by "driving tanks on farmlands" and once again needled India by calling Hizbul commander Burhan Wani a "son of the Kashmiri soil".nawaz

Responding to Modi's speech last month challenging Pakistan to a contest over eradicating poverty and other social ills, Sharif said, "If they (Indian leaders) want us to fight them to end poverty, then they should realise that poverty cannot be eradicated by driving tanks on farmlands."

Sharif, while addressing a joint session of the Parliament convened to discuss the security situation in the wake of increasing Indo-Pak tensions, accused India of running away from dialogue and instead creating a war-like environment by blaming Pakistan for the Uri terror attack in which 19 Indian soldiers were killed last month.

"We have done everything to make India come to the dialogue table, but India did not let it happen. Our efforts were thwarted over and over again," Sharif claimed. "Without any investigation (into Uri incident), within a few hours, India blamed Pakistan for the attack," he said.

Sharif accused India of having some "motives" in blaming Pakistan for the Uri attack when it was "not even established" that who was involved in it. The Pakistan Prime Minister also accused India of violating the LoC ceasefire agreement and launching "aggression" against Pakistan.

"India's ceasefire violation resulted in the death of our two soldiers, when it attacked Pakistan. It was befittingly responded and was conveyed that Pakistan Army is fully capable to respond to any aggression," he said.

Sharif also expressed support for Kashmiris and said the issue should be resolved according to the wishes of people of Kashmir and the UN resolutions. "The Kashmiri youth have taken it upon themselves to carry on the movement of freedom against Indian aggression and atrocities," Sharif said.

He again mentioned Wani in his speech. "The death of Burhan Wani, son of the Kashmiri soil, had reminded India to give Kashmiris their right to self-determination," Sharif said. Raking up Kashmir at the UN General Assembly, Sharif had called Wani a "young leader", evoking a strong reaction from India. Wani was killed in an encounter with security forces on July 8, sparking off protests in the Valley.

Lambasting Sharif's "glorification" of Wani in his UNGA speech, India had said hailing a "self-advertised" terrorist at the forum is "self-incrimination" by the Pakistani leader. Sharif, in his address to the Parliament today, urged the international community to play a role in implementing the UN resolutions on Kashmir.

He claimed that India wanted to deflect the world from its "acts of suppression" in Kashmir by leveling allegations against Pakistan. He asserted that Pakistan's armed forces were fully prepared and ready to thwart any attack.

All opposition parties attended the joint session except Imran Khan's Pakistan Tehreek-i-Insaf as the cricketer-turned politician had boycotted it, saying Sharif was not fit to lead the country and the session would only endorse his leadership.

Sharif's comments came after last month, while speaking at a public meeting in Kerala held on the sidelines of the BJP national council meet, Prime Minister Modi had said, "I accept this challenge. I want to tell you that India wants to fight with Pakistan. If you have the courage then why not fight to end poverty, unemployment, illiteracy. Let us see which country wins, India or Pakistan."

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
April 16,2020

Islamabad, Apr 16: The number of coronavirus cases in Pakistan topped 6000 while the death toll due to the virus has reached 117, Dawn reported citing official data on Wednesday.

Over 1,446 people have recovered in the country from the deadly virus that has killed over 1.3 lakh people worldwide.

The total number of cases in the country has reached 6297 with Punjab being the worst affected province with 3,016 cases. Meanwhile, Sindh has 1,688 cases of the deadly virus.

Khyber Pakhtunkhwa has reported 47 new cases of the coronavirus, taking the provincial total to 912. Most of the new cases are of Tableeghi Jamaat members who have travel history.

Balochistan has reported four new cases of COVID-19, taking the provincial total to 281 according to provincial government spokesperson Liaquat Shahwani.

On Tuesday, Prime Minister Imran Khan had announced the extension of the nationwide lockdown with relaxation to some sectors.

Addressing the media in Islamabad on Tuesday, Khan said, "We made the hard decision of imposing lockdown in the country which was very well implemented due to cooperation of the people."

The countrywide lockdown was imposed last month in a bid to stem the spread of coronavirus. Later, a two-week extension was announced in the restrictions until April 14.

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News Network
January 8,2020

Sydney, Jan 8:  Authorities in Australia will begin five-day campaign to kill thousands of camels in the country as they drink too much water amid the wildfires.  The government will send helicopters to kill up to 10,000 camels in a five-day campaign starting Wednesday, The Hill reported citing The Australian.

Marita Baker, an Anangu Pitjantjatjara Yankunytjatjara (APY) (large, sparsely-populated local government area for Aboriginal Australians) executive board member, said that the camels were causing problems in her community of Kanypi.

"We have been stuck in stinking hot and uncomfortable conditions, feeling unwell, because the camels are coming in and knocking down fences, getting in around the houses and trying to get to water through air conditioners,'' she said.

The planned killing of the camels comes at a time the country is ravaged by wildfires since November. The disaster has killed more than a dozen people and caused the displacement or deaths of 480 million animals, according to University of Sydney researchers.

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