Pasban Democratic Party Critiques Government’s Loan Practices, Calls for Banking Reform

Karachi, The Pasban Democratic Party (PDP) has voiced strong opposition against the provincial governments’ reliance on private bank loans for wheat procurement, stressing that such practices squander public funds and enrich banks at the expense of the people. In a statement, PDP Chairman Altaf Shakoor criticized the banking sector for operating at the detriment of consumers and the government, likening the situation to historical exploitation by colonial powers.

According to Pasban Democratic Party, Shakoor highlighted the annual expenditure of billions of rupees paid by provincial governments to private banks as interest on loans. He argued that this money could be better used for the welfare of the poor if the government utilized its own resources for essential purchases like wheat. The statement called for an urgent overhaul of the banking sector to prevent private banks from acting as modern-day East India companies, exploiting consumers and the government through high-interest loans.

Shakoor pointed out the skewed policies of the State Bank of Pakistan, which he believes favor private banks at the expense of the country’s populace. He underscored the necessity of breaking the “deadly debt trap” facing the government and its citizens, criticizing the lack of political advocacy for consumer rights within Pakistan.

The PDP’s statement also referred to a report indicating Pakistan’s banking sector has one of the highest spreads in the world, exacerbated by the central bank’s policy rate reaching an all-time high of 22 percent. This has significantly widened the gap between the interest rates on loans and the returns on deposits, further burdening the economy and its people.

Shakoor’s call to action includes urging central and provincial governments to devise mechanisms to reduce their dependency on bank loans, particularly for operational needs like wheat procurement. He emphasized that saving taxpayer money should be a top priority, advocating for pro-consumer banking reforms to foster a culture of consumer rights protection in Pakistan.

The Pasban Democratic Party’s critique of the banking sector and the government’s financial practices sheds light on the broader economic challenges facing Pakistan, calling for reforms to safeguard the interests of the poor and promote fiscal responsibility.

Rawalpindi Commemorates the Martyrdom of Hazrat Ali with Solemnity and Devotion

Rawalpindi, The martyrdom of Hazrat Ali (AS) Ibn Abi Talib (AS), a day of profound reverence and mourning in the Islamic calendar, was observed in Rawalpindi and across other cities of Pakistan with due solemnity and respect. Organized by Tehreek Nafaze Fiqhe Jafariya, the day saw various mourning assemblies, processions, and funeral gatherings in remembrance of the first Shia Imam, highlighting his significant contributions to Islam and his embodiment of justice and fairness.

According to Tehreek Nafaze Fiqhe Jafariya, the observance included processions and gatherings at multiple locations, including the central Imam Bargah of Imam Ali Shah, Bohar Bazar, and Imambargah Grace Line Chaklala, under the auspices of Ashri Trust. The commemorations featured the traditional carrying of coffins and flags, with scholars, preachers, and community leaders addressing the congregations about the life, virtues, and sacrifices of Hazrat Ali (AS).

The absence of an official holiday on this day was criticized by Allama Agha Syed Hussain Makdisi, head of the Jafariya Jurisprudence Implementation Movement, who addressed the central assembly in Wah Cantt. He emphasized the martyrdom of Hazrat Ali (AS) as a critical event in Islam, highlighting its significance beyond religious commemorations to encompass the fight for justice and the rights of the Shia school of thought. Makdisi’s speech also touched on the importance of security for the events, urging provincial governments to ensure the safety of participants against any threats.

The day’s events serve as a reminder of Hazrat Ali’s (AS) legacy as a paragon of justice and his enduring influence on Islamic jurisprudence and Shia belief. The processions and gatherings, while marking a somber occasion, also reflect the community’s resilience and devotion to preserving their religious and cultural heritage.

Pasban Democratic Party Calls for Dr. Aafia Siddiqui’s Release, Denounces Pakistani Government’s Inaction

Tando Adam, The Pasban Democratic Party (PDP) has sharply criticized the Pakistani government for its role in the continued imprisonment of Dr. Aafia Siddiqui, describing it as a severe violation of human rights. During demonstrations in Tando Adam on March 30, referred to as Black Day, PDP officials demanded immediate action from the government for Siddiqui’s release, highlighting her detention as a mark of shame on both Pakistani leadership and the United States.

According to Pasban Democratic Party, Rana Gulzar, the party’s president in Tando Adam, emphasized the urgency of securing Dr. Siddiqui’s freedom, condemning the circumstances of her capture along with her three children as a flagrant disregard for national and international laws. The demonstrations, led by Pasban’s youth leadership, including City Youth President Amjad Rajput, saw wide participation from civil society members and expressed deep discontent with Siddiqui’s prolonged incarceration in the U.S. and the Pakistani rulers’ apparent apathy towards her plight.

Dr. Aafia Siddiqui, often referred to as the “daughter of the nation,” has been imprisoned for over two decades, a period marked by significant controversy and allegations of torture. The Pasban Democratic Party’s statement on Black Day—a date commemorating Siddiqui’s alleged abduction—calls attention to what they see as a stark injustice and a direct violation of human rights, urging the Ministry of Foreign Affairs to intensify efforts for her release.

The PDP’s protests and statements serve as a poignant reminder of the complex and sensitive nature of Dr. Siddiqui’s case, challenging both Pakistani and international stakeholders to reconsider the legal and ethical dimensions of her continued detention.

Pasban Democratic Party Criticizes Government’s Reliance on Bank Loans for Wheat Procurement

Karachi, The Pasban Democratic Party (PDP) has called on provincial governments to halt the practice of borrowing billions of rupees annually from private banks for wheat procurement, arguing that this habit wastes taxpayer money. PDP Chairman Altaf Shakoor, speaking in Karachi on Sunday, criticized the banking sector for exploiting both consumers and the government, likening the situation to historical colonial exploitation. He advocated for the government to utilize its own funds for such procurements to avoid the hefty interest payments currently enriching private banks at the public’s expense.

According to Pasban Democratic Party, Shakoor condemned the current banking practices, highlighting Pakistan’s banking spread as among the highest globally. He referenced a report indicating that the weighted average banking spread in Pakistan reached a two-decade peak of 7.73% in the second quarter of 2023, spurred by the central bank’s policy rate hitting a historical high of 22%. This situation, Shakoor argues, exemplifies the broader issue of banks profiting at the expense of the populace and calls for urgent pro-consumer banking reforms in Pakistan.

Shakoor’s critique extends beyond the banking industry to the regulatory environment and consumer protection culture within Pakistan. He asserts that policies favoring private banks contribute to a debt trap for the government and its citizens, lamenting the lack of political advocacy for consumer rights. The PDP Chairman demands that central and provincial governments reduce their reliance on bank loans, particularly for essential services like wheat procurement, to prioritize saving taxpayer money over indebting themselves to profit-driven banks.

This call to action reflects broader concerns about economic policies and consumer rights in Pakistan, highlighting the need for reforms to protect the interests of the poor and prevent financial exploitation by private entities.

PPP Claims PTI Undermines Asifa Bhutto Zardari’s Victory in NA-207; Announces Post-Eid Police Operation

Karachi, Provincial ministers from the Pakistan Peoples Party (PPP) have accused the Pakistan Tehreek-e-Insaf (PTI) of undermining the uncontested victory of Bibi Aseefa Bhutto Zardari in the NA-207 constituency, alleging that such efforts are counterproductive to the PTI’s political interests. In a press conference held at Media Cell Bilawal House on March 31, the ministers also announced a significant upcoming police operation to address criminal activity in rural areas of Sukkur and Larkana divisions after Eid-ul-Fitr.

According to Pakistan Peoples Party, Sindh’s Minister for Local Government, Saeed Ghani, Provincial Home Minister, Zia-ul-Hassan Lanjar, along with other PPP officials, presented a unified stance against PTI’s actions regarding the NA-207 by-election result. They emphasized the historical strength of PPP in the constituency and projected that Bibi Aseefa Bhutto Zardari would have won a significant majority if by-elections were held, estimating between 150,000 to 250,000 votes in her favor.

The ministers refuted allegations regarding the abduction of PTI’s candidate, explaining the legal reasons behind the disqualification of PTI candidates from the race. They pointed out procedural flaws and legal infractions that led to the rejection of nomination forms, discrediting claims of political foul play.

In addition to addressing the political controversy, Zia-ul-Hassan Lanjar outlined the provincial government’s plans to launch a large-scale police operation targeting criminal elements in the Kacha areas of Sukkur and Larkana divisions post-Eid. He detailed the deployment of additional police forces and the establishment of a high-level committee to improve investigative and prosecutorial efforts across the province, specifically mentioning the formation of a committee to tackle the case of Priya Kumari’s kidnapping.

The press conference not only served to clarify the PPP’s position on the election controversy but also highlighted the government’s commitment to enhancing law and order in the province. The forthcoming police operation reflects an effort to bolster security and address criminality, aiming to create a safer environment for the residents of Sindh.

PTI Accused of Undermining Asifa Bhutto Zardari’s Victory in NA-207, Sindh to Launch Police Operation

Karachi, Leaders of the Pakistan Peoples Party (PPP) and provincial ministers have accused the Pakistan Tehreek-e-Insaf (PTI) of attempting to discredit the uncontested victory of Bibi Asifa Bhutto Zardari in the NA-207 constituency. In a press conference held in Karachi, they argued that PTI’s actions are self-defeating and announced a significant police operation targeting criminal elements in the Sukkur and Larkana divisions post-Eid.

According to Pakistan Peoples Party, during the press conference at Bilawal House, Sindh Local Government Minister Saeed Ghani, Provincial Interior Minister Zia-ul-Hasan Lanjar, and other officials dismissed the PTI’s challenge to Asifa Bhutto Zardari’s election as baseless. They underscored the historical stronghold of PPP in NA-207, a constituency previously won by President Asif Ali Zardari and Dr. Ezra Fazal Pechuho. The leaders also refuted allegations of abducting PTI’s candidate, highlighting legal issues that led to the rejection of PTI candidates’ nomination forms for reasons including absconding from justice and asset concealment.

The officials detailed forthcoming security measures to address law and order, including deploying a thousand police personnel in Ghotki and Kashmore districts and a major operation against criminal activities in the region’s “Kacha” areas. They outlined efforts to improve investigation procedures and prosecution through legal reforms and the establishment of a high-level committee to tackle prominent criminal cases.

This development signals the PPP’s resolve to maintain political integrity and security stability in Sindh, asserting the legitimacy of Asifa Bhutto Zardari’s victory while actively addressing the province’s security challenges.