PACRA Maintains Stability Rating of Pakistan Income Enhancement Fund

Lahore, March 11, 2023 (PPI-OT): Pakistan Income Enhancement Fund or the “Fund” is a medium-risk profile fund. The assigned rating reflects the moderate strength of the Fund’s credit and interest rate risk profile. At end Dec’22, the Fund was largely invested in Government Securities with 75.2% of total assets while 19.3% was invested in TFCs/Sukuks, 3.9% in Cash at Banks and remaining was invested in others.

At end Dec’22, Weighted Average to Maturity stood at 1.4 years mainly due to investments in government securities and corporate bonds. The Duration of Fund was 47 days depicting low interest rate risks. The unit holder concentration stood at ~46.4% with low redemption risks.

Going forward, the Fund may alter its allocation with banks and take a diversified exposure in term deposits and spread transactions keeping in view the market expectations. Material changes in the Fund’s asset allocation strategy, impacting its credit quality and/or exposure to interest rate risk, would affect the rating.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

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PACRA Maintains Stability Rating of NIT Government Bond Fund

Lahore, March 11, 2023 (PPI-OT): NIT Government Bond Fund (or the ‘Fund’) is a medium risk profile Fund. The assigned rating reflects the Fund’s moderate credit risk profile emanating from Fund’s Investment policy to invest in avenues with sound liquidity.

The Fund had invested ~35% in PIBs, ~34.4% in T-Bills whereas ~29.1% in cash majority in Soneri Bank rated AA- and ~1.5% in others. The duration of the Fund stood at 36 days at the end Dec’22, limiting the exposure interest rate risk. While the WAM of the Fund stood at 224 days at the end Dec’22, exposing the Fund to high credit risk. However, major investment in Govt securities is providing comfort to the assigned rating.

The unit holding pattern of the Fund stood at 82.3%, representing top ten investor concentration. The Fund would remain exposed to redemption pressure. The Fund remained compliant with the given criteria of assigned rating by investing minimum 25% in Govt/AAA rated avenues and maximum 25% in double AA- rated avenues.

Going forward, any material changes in the investment policy would remain imperative. While compliance with the devised rating criteria for the assigned rating would remain critical.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

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Lord Qurban raises plight of IIOJK women in UK Parliament

London, March 11, 2023 (PPI-OT): The Member of British Parliament, Lord Qurban Hussain, has raised his voice for the suffering women of Indian illegally occupied Jammu and Kashmir. Taking part in a debate held in the UK Parliament in connection with the International Women’s Day, he said, “On International Women’s Day, while we are discussing very important issues such as steps taken to support the education of women and girls in the United Kingdom and worldwide, we must not forget those women in conflict zones facing physical torture, verbal abuse, harassment, rape and murder with complete impunity. One of those areas is Kashmir, where I was born.”

He said that after the repeal of special status of IIOJK by Narendra Modi-led fascist government on August 05, 2019, there are thousands of Kashmiri men and women held in different prisons in different parts of India, booked under draconian law Public Safety Act or sedition, provocation and anti-India activities laws. He cited Kashmiri women leaders, Aasiya Andrabi, Fehmeeda Sofi and Naheeda Nasreen as examples of the women who have been held in New Delhi’s infamous Tihar Jail far away from their home in IIOJK for a long period.

Lord Qurban Hussain, who is Secretary of All Party Parliamentary Group (APPG) on Kashmir, said Aasiya Andrabi, the founder and chairperson of one of south Asia’s biggest women’s organisations Dukhtaran-e-Millat, is one of the most prominent woman pro-freedom leaders of Kashmir, and is a science graduate in biochemistry, biotherapy, and bacteriology. Aasiya Andrabi is the first woman resistance leader from Kashmir, who has been booked under the Public Safety Act 20 times since 1993. He said, the charge against Aasiya Andrabi is simple; she fiercely advocates Kashmir’s liberation from the Indian yoke. In October 1990 Andrabi married Dr Muhammad Qasim Fakhtoo, a resistance ideologist who happens to be Kashmir’s longest-serving political prisoner. The couple has spent only four years together in their 28-year marriage. The 58 year-old Aasiya Andrabi is suffering from various life-threatening diseases and is denied medical care in the jail, he said.

Lord Qurban Hussain said that Sofi Fehmeeda was arrested by India’s notorious National Investigation Agency on 20 April 2018 and charged with sedition. Since then, she has been imprisoned in Tihar, and her mother is still waiting for her release, he said. The British MP said, Naheeda Nasreen, is a graduate in theology and Islamic studies.

He said, there are thousands of men and women who are held in Indian prisons and their only real crime is to have taken part in the campaign for the right to self-determination, which was promised by India at the United Nations in 1948 and 1949. “I ask the Minister to say what the British Government can do to aid the release of prisoners, such as these three ladies, from Indian prisons. Furthermore, are the British Government prepared to link human rights to their free trade deal with India?” he asked. Meanwhile, former Prime Minister of Azad Kashmir, Raja Muhammad Farooq Haider Khan, and Jammu and Kashmir Self-Determination Movement International team have thanked Lord Qurban Hussain for raising his voice for plight of women of IIOJK.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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Hindutva goons shot Muslim man, assaulted 9-month-old baby in UP

Lucknow, March 11, 2023 (PPI-OT):
A Muslim man was shot dead, a woman’s eyes gouged out and a 9-month-old baby slammed on the ground, all for stopping Hindutva goons from drinking alcohol in front of a shop. This heart-wrenching incident reportedly took place in Jaunpur city in the Indian state of Uttar Pradesh.

As per a video making rounds on social media, some men from the Thakur community came up to a puncture shop and sat on the bonnet of the car outside the shop. The owner of the shop, Kamal stopped them from doing so and moved the car and some argument and altercation followed but the situation was normalised. However, the reaction came later when 15-20 men from the Thakur community, went to the house of Kamal and fired at him, killing him on the spot. They also mercilessly beat up a woman with the butt of the gun where her eyes were gouged out, nose was broken. They also threw the 9-month baby on the floor, causing her ear to bleed. Three more persons from the family were also injured in this assault.

Muslims from the area held a sit-in protest demanding action against the culprits. They also demanded a government job for a family member and 1 crore compensation. A local news report from a channel called Azamgarh Express showed the woman replete with plasters on her face and the 9-month-old baby as well. As per the report, out of the four accused, two have been wanted criminals (Sujit and Sunny).

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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Speakers condemn India over criminalization of freedom of expression in IIOJK

Geneva, March 11, 2023 (PPI-OT): Speakers at an interactive dialogue held on the sidelines of the ongoing 52nd session of the UN Human Rights Council in Geneva have castigated the Indian government for its repressive policies intended to criminalize freedom of expression and choking critical voices through new forms of censorship in Indian illegally occupied Jammu and Kashmir. The interactive session hosted by the World Muslim Congress in collaboration with International Women Union was attended and addressed by Kashmiri representatives Altaf Hussain Wani, Sardar Amjad Yousaf, Dr Waleed Rasool, Fahim Akram Kayani, Syed Faiz Naqshbandi, Dr Shugafta Ashraf and others.

Briefing the international audience about the Indian government’s massive crackdown campaign to criminalize freedom of opinion and expression, they pointed out that the apartheid regime’s policy to kill every dissenting voice in the occupied territory involved its three-pronged strategy including silencing democratic dissent, choking critical voices through new forms of censorship, criminalization of journalism and targeting freelancers who report for international media with lawsuits or other forms of intimidation.

They said the free press, which functions as a watchdog to investigate and report on government wrongdoings, was muzzled after being treated as an enemy of the state. They said that since August 2019, the denial of access to information, censorship, harassment, arbitrary detentions and attacks on journalists were alarmingly frequent. “Not to talk of political workers, even journalists, civil society activists and rights defenders were booked under sedition charges for raising their voice against the ongoing bloodshed, repression and use of excessive force by the Indian state,” they.

The Kashmiri journalists, the speakers said, have suffered numerous press freedom violations ranging from killings, torture and kidnapping, arrests and detentions under black laws. The undue restrictions imposed under media policy 2020, they said, had a chilling effect on the objective reporting, while on the other hand, it enabled the government to paddle its own narrative by spoon-feeding the news of its own.

They said media freedom has been deteriorating fast in Kashmir ever since Modi took the reins of power in New Delhi. “The people’s right to freedom of expression has come under unusual pressure in Kashmir, especially after the Indian government enforced draconian laws such as UAPA (Unlawful Activities Prevention Act) and other laws in Kashmir,” they said, adding that these lawless laws have helped the Indian government to throttle free-media and silence critical voices who refused to toe the government line.

“Harassment, intimidation and reprisals remain the widely used tools to suppress the freedom of oppression,” the speakers said, adding that the authorities at the helm of affairs have increasingly targeted freelancers and local portals for a fairer coverage of the situation in Kashmir. They said that government-backed militias and so-called investigating agencies have frequently raided homes and offices of pressmen in Srinagar to create a climate of fear.

Referring to the illegal detention of Hurriyat leaders and prominent Kashmiri human rights defenders, the speakers said, “Political leadership and human rights advocates who have been critical of India’s repressive policy towards Kashmir have been booked under trumped-up charges and thrown in jails.”

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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Complete shutdown in Jammu against imposition of property tax in IIOJK

Jammu, March 11, 2023 (PPI-OT): In Indian illegally occupied Jammu and Kashmir, complete shutdown is being observed in Jammu, today, against the imposition of property tax in the territory by the authorities. Call for the shutdown has been given by Chamber of Commerce and Industries Jammu (CCIJ) and supported by several groups. Shops and business establishments are closed in the region while traffic movement on the roads is thin.

The High Court Bar Association of occupied Kashmir has suspended work in all courts in support of the shutdown. As per an order issued by the IIOJK administration, taxes on residential and commercial properties will be levied from April 01. The move evoked strong condemnation from all sections of the society.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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ECP notifies officials to ensure smooth, fair election of Punjab Assembly

The Election Commission of Pakistan has notified officials to ensure a smooth and fair election of the Punjab Assembly.

According to an ECP news release, they include 36 District Returning Officers, 297 Returning Officers, and 294 Assistant Returning Officers.

The election officials, who have been selected from the bureaucracy, would be responsible for overseeing the elections in their respective districts and ensuring that the voting process is conducted in a transparent and unbiased manner.

They would also be responsible for counting the votes and announcing the results.

Source: Radio Pakistan