Loud Thinking

Archive for October, 2018

Mr. Ehsan Mani Chairman PCB must be appreciated for removing any doubts (created after the PCB’s press conference of 26 October 2018) about the status of the Justice Qayyum report on match fixing by clarifying in a press release of 30 October 2018 that the Pakistan Cricket Board (PCB) strongly rejects the speculation over the Board’s perceived ‘rejection’ of the Justice Qayyum report on match-fixing, which further stated that the work of Justice Qayyum is acknowledged and appreciated by PCB and there is no truth in the perception created by a few media publications that the report has been dismissed by the PCB.

However, the controversy about involving “SULLIED” players in the PCB set up has erupted again after PCB’s above mentioned press release which stated that the Qayyum Commission report did not bar Mr. Wasim Akram from working for the betterment of cricket and for the PCB.

As such, it is imperative to quote below the statements of persons who appeared before the Justice Qayyum Inquiry Commission on Match Fixing (some of whom are still working in the PCB) and comments, recommendations and conclusion of Justice Qayyum in his report about Mr. Wasim Akram:

Quote.

Observations of Justice Qayyum:

“However, once this commission looks at the allegations in their totality, this commission feels that all is not well here and that Wasim Akram is not above board. He has not co-operated with this Commission. It is only by giving Wasim Akram the benefit of the doubt after Ata-ur-Rehman changed his testimony in suspicious circumstances that he has not been found guilty of match-fixing. He cannot be said to be above suspicion. It is, therefore, recommended that he be censured and be kept under strict vigilance and further probe be made either by the Government of Pakistan or by the Cricket Board into his assets acquired during his cricketing tenure and a comparison be made with his income. Furthermore, he should be fined Rs. 3 lac.

More importantly, it is further recommended that Wasim Akram be removed from captaincy of the national team. The captain of the national team should have a spot-less character and be above suspicion. Wasim Akram seems to be too sullied to hold that office.

Statements of 5 Players:

1. Imran Khan: Mr. Imran Khan, former Captain, also appeared before this Commission of Inquiry. He felt that match-fixing had taken place in Pakistani cricket but apart from what Ata-ur-Rehman had told him he had no information regarding match-fixing. Mr. Imran Khan maintained that the involvement of the Captain is imperative if match-fixing is to take place because guaranteeing the results of the match cannot be without the knowledge or consent of the Captain. Mr. Imran Khan also maintained that Intikhab Alam was a decent person and should be believed. He suggested that any one found guilty of match-fixing, should be banned for life and fines should be imposed on them.

2. Mr. Burki stated that when he was leaving the Board to the new set up, he had recommended that Salim Malik should never play for Pakistan again and that Ijaz Ahmad and Wasim Akram should be warned. He said he was sure that match-fixing and betting was going on in the Pakistani cricket team.

3. Majid Khan: Next to appear was the former Pakistani Captain and the recent Chief Executive of the Pakistan Cricket Board, Mr. Majid Khan. Mr. Majid Khan had been instrumental in the appointment of this Commission of Inquiry. Mr. Majid Khan deposed that after the disappointing performance of the Pakistani team in the Independence Cup Quadrangular matches, he confronted Haroon Rasheed. Mr. Haroon Rasheed maintained that if the Captain Wasim Akram was not interested in winning the matches, he, Haroon, should not be blamed. Mr. Majid Khan, produced exhibits which showed that Mr. Wasim Akram was promoting himself in the batting order, which was resulting in breaking the momentum and the slowing of the run rate. When Wasim Akram was confronted by Majid Khan, Wasim Akram replied that he was not aware of the in form batsman and the out of form batsman and that he would rectify the mistake. During the matches in Sharjah, the same mistake was repeated by Wasim Akram. He would promote himself in the batting order instead of Azhar Mahmood and Moin Khan. Mr. Majid Khan maintained that the exemplary punishment should be given to all those who were involved in match fixing so that an example could be set for others. He also suggested that investigating agencies should investigate the assets of the Players.

4. Mr. Haroon Rasheed felt that the main culprits were Wasim Akram, Ijaz Ahmad and Salim Malik.

5. Aaqib Javed: Aaqib Javed was next to appear before this Commission of Inquiry. He affirmed the assertions that he had received a telephone call from an unknown person in Sri Lanka asking him to contact Saleem Pervez who was allegedly a bookie and receive a sum of Rs. 15 Lacs and a vehicle. He also maintained that he saw one Hanif Cadbury freely mixing with players during the South African tour. He also affirmed that he had received a message indirectly from Wasim Akram that as he was not part of the game, he would never play cricket till Wasim Akram was captain. Aaqib Javed maintained that one of his friends Naeem Gulzar c/o Lahore Gymkhana had some information regarding match-fixing. He also affirmed that an oath was taken on the Holy Quran at the insistence of Mr. Intikhab Alam.
He accused Wasim Akram and Salim Malik of being the main culprits.

Recommendations of Justice Qayyum:

RECOMMENDATIONS
In order to prevent match-fixing in the future it is recommended�

That the Captain of Pakistan Cricket team should be a person of impeccable character and not someone anyone can point a finger at. From the evidence recorded, it can be seen that the Captain is the key player to be bought to fix a match. Hence, this strong recommendation.

That similarly, the manager should be a person of impeccable character. A manager should realize that there are people on this earth who would lie even on oath. A manager needs to keep a stern hand with the players.

That all foreign tours should take along an independent third party, an ombudsman of sorts to deal with players complaints and indiscipline. Such a person could be the chairman of the PCB or his impartial nominee.

That a new code of conduct should be introduced for the players. The ICC code of conduct needs to be tightened and more provisions need to be introduced, targeting specifically the threat of match-fixing. To this end, under the code, players should be stopped from associating with known bookies or people who are convicted of match-fixing and similar offences. Such terms should be made a pre-condition to employment by the PCB and should be incorporated into the players’ contracts.

That a permanent Review Committee should be formed to look into inter alia allegations of the match-fixing in the future. It should consist of people independent of the Board. The members of the review committee should have a good knowledge of cricket and have clean records. The Committee may also have a member being a former judge of the High Court or the Supreme Court of Pakistan. At the end of tours such a committee should look into the performance of the team and allegations of irregularities if any. Whenever there are any allegations, whether of match-fixing, ball-tampering or any other misconduct, the match should be reviewed by the Committee and its report should be submitted to the board. Such a committee should be prompt in its disposal of the matters raised, as lingering over the matter only makes matters worse.

That, inter alia, in order to facilitate the review committee, it should be made mandatory on the Board to collect video recordings of all the matches that have been played by the team and stored in its library. Such video recordings should be free of advertisements as it is when these ads are being shown i.e. at fall of wickets and change of ends that suspicious interchanges are likely to occur. This latter point is particularly raised as the moment in the Christchurch one-dayer where Salim Malik allegedly is said to have been angry with Rashid Latif for taking a catch is cut out by an advertisements break.

That the Review Committee adopt the two sub-offences approach to match-fixing as used by this Commission. This would allow it to sideline or warn players well before they can damage to the good name of the team.

That the PCB should adopt a zero tolerance approach in this matter.

That Pakistani cricketers should declare their assets at the time they start their career and annually submit their asset forms to the Pakistan Cricket Board. This would ensure that their assets can be compared with their earnings and spendings. Such information may be kept confidential by the PCB. The Board should also compare these figures against figures obtained through independent inquiries from the players’ employers (Counties, Leagues, Banks, etc.)

That players be forbidden to speak to the press unless authorized though a clause in their contract like the one contained in the ACB contract. Only after all PCB avenues of recourse have been exhausted can a player be excused from going to the press. This restriction may be limited to controversial matters only if the Board is so minded.

That in conjunction to the ban on speaking to the press, the PCB should actively take to defending its players, present and past, and not allow anyone to defame them. The players are the PCB’s true capital and it should recognize that.

That generally Pakistani Law needs a summary procedure for damages for defamation. Such a procedure would be a deterrent to baseless allegation and would provide satisfaction to the innocents accused.

That the ban on cellular phones and outside communication generally during matches should be strictly applied. Phones, if necessary, can be routed through the manager. Any breach of this regulation should be strictly taken note of.

That generally discipline of the team be strictly monitored and maintained. Allowing minor breaches to go unpunished leads to players taking liberties and bigger breaches follow.

That players be prepared for the possibility that they can be blackmailed. Gamblers try to lure them in with all sorts of offers. Offers of cars, women, etc. can all lead to blackmail if accepted. We have seen it happen to others. Pakistani players should not be left na�ve and it should be the duty of the board to educate these players when they come into the team as to the dangers and temptations are to that are faced by them.

That the Pakistan Cricket Board should consider not sending Pakistan to venues which are reputed to be dens of bookies.

That this report should be released to the public. To give it wide publication this may also be released on the internet too. To this end a copy of the report is submitted on disk too (Microsoft Word format).

That the PCB increase the pay of its Cricketers and develop for them more avenues of income (some are suggested below). It has been noticed that the Cricket Board is no longer a body which is running on grants by either the Federal government or by Federal Government institutions. The Board has of late become self-reliant and it is believed that the coffers of the Board are full. The Board after all generates money through the players and in all fairness the players deserve to receive more than they are presently receiving. An ACB cricketer earns in the region of US$250,000 to US$400,000 plus almost as much in endorsements on the side. Currently the PCB pays Pakistani cricketers around US$70,000 a year. Pakistani players for all their talent are not as well-paid as their counterparts abroad. As long as they are underpaid the tendency to be bribed remains. However, it should also be stated that such increases should not be to as high a level as some other countries because the cost of living in Pakistan as regards to the other countries is much lower. An increase with an eye on the standard of living in Pakistan is the order of the day.

That there are other avenues for funds that can be tapped by cricketers or the PCB on their behalf. Memoirs, biographies, tour diaries, sale of autographs and memorabilia can provide cricketers with adequate secondary remuneration. Moreover, with chances of playing cricket abroad (County, League, etc.) and employment available locally for cricketers (banks, etc.), this Commission finds it very painful to see that a cricketer would accept a bribe for instant money than avail any of the above noted opportunities for clean money.

That winning should be made more lucrative to players. To this end, further and more substantial win bonuses should be introduced. If players receive larger sums for playing well and winning tournaments, it would be an incentive to stay straight. No one is born corrupt or a match-fixer. This is especially so in the case of sportsmen. We have all heard of sportsman spirit and it is this spirit that needs to be inculcated into every child while he is developing his skills in the game. It is in this rationale and background that it is suggested that if players were to receive major sums of money for playing well in the form of win bonuses, the very temptation for an innocent sportsman of getting corrupt would in all probability be eliminated. This would, of course, be a scenario after all corrupt elements have been weeded out and punished.

That the pay structure of the PCB to its players be revised. Instead of being only based on seniority, when paying players, their performances, past and recent, should be worked into the pay-structure too. A player who fixes a match by getting a low score will feel the affects in his pay packet. That might be another incentive to stay straight. The pay structure now is strange in that if Salim Malik came back to the team he would get more than say Shoaib Akhtar. This leads to dissatisfaction among the younger stars and raises the possibility of corruption.

That, witnesses should be reimbursed for all the expenses they have incurred in following up this matter.

That Rashid Latif be given immunity for the offence of tapping phones as long as such an offence was committed so as to assist this commission of inquiry and the tapes were produced before this commission in an unedited and authentic form. For the purpose of this immunity, there be a presumption that the tapes are authentic unless proven otherwise: the burden to prove them fakes lies on the parties alleging they are fake. Thereafter, fakes may well be acted upon.

That the Pakistan Government should investigate gambling in Pakistan. Gambling is against Islamic law, yet the extent to which it is carried out in Pakistan and tolerated was a revelation. The people named in the Ehtesaab Report and the ones captured during this inquiry need to be investigated and prosecuted.

That, the following avenues if the patron be so minded be investigated. Inter alia, for lack of time, these were not pursued.

A more thorough investigation into allegation of match-fixing in domestic matches.

Verification of all the Rashid Latif tapes, inter alia by confronting players with them. (Saeed Anwar, Javed Burki, Arif Abbassi, etc.)

That, it needs to be said to the general public, this matter now needs to be put to rest. When they react to losses, the Public should be more tolerant in its criticism and remember that cricket is still a game of chance and the players are indeed human still. The other team is there to play too and the Pakistan team is not that invincible, at least not all of the time, that if they lose or fail to come from behind there must be something amiss. Even some of the Pakistan team coaches need to take note of that. (Haroon Rasheed’s allegation against Saqlain was ludicrous.)

That, to those disappointed with their fallen heroes, it be suggested that humans are fallible. Cricketers are only cricketers. Please maintain a sense of perspective when you react and criticise.

Conclusion of Report by Justice Qayyum :

CONCLUSION
The allegation that the Pakistan team is as a whole is involved in match-fixing is just based on allegation, conjectures and surmises without there being positive proof. As a whole, the players of the Pakistan Cricket team are innocent.

However, there is clear evidence of match-fixing against Mr. Salim Malik. He should be banned for life from Cricket. Further an inquiry should be conducted into his assets and charges brought against him in a criminal court of law.

The evidence against Wasim Akram has not come up to the requisite level, primarily because of Ata-ur-Rehman’s perjuring himself. This Commission is willing to give him the benefit of doubt. However, there has been some evidence to cast doubt on his integrity. As such, this Commission recommends that he be removed from the captaincy of the Pakistan Cricket Team and a person of impeccable character be appointed. Moreover, he should be censured, kept under watch and his finances should be investigated.

Ata-ur-Rehman is being proceeded against for perjury. Further, it is recommended that he be banned from international cricket.

This commission recommends that PCB should enforce declaration of assets by all its players and, if necessary, initiate a probe into their accounts.

In addition to recommendation of other punishments, fines are recommended against the following players as follows (as explained esrlier):

Salim Malik Rs. 10 lac
Wasim Akram Rs. 3 lac
Mushtaq Ahmad Rs. 3 lac
Ata-ur-Rehman Rs. 4 lac
Waqar Younis Rs. 1 lac
Inzamam-ul-Haq Rs. 1 lac
Akram Raza Rs. 1 lac
Saeed Anwar Rs. 1 lac

It may be recommended inter alia that a watch-dog Review Committee be formed to deal with future allegations if any. Further that all Pakistani cricket players should declare their assets at the time they start their career at the national level and annually submit their asset forms to the Pakistan Cricket Board. A zero tolerance approach be taken against match-fixing in the future and strict discipline generally be maintained.

(Sd/- Justice Malik Muhammad Qayyum)

The facts stated above, at least confirms; that the debate about what the commission stated, recommended and concluded and also renowned cricketers have said about Mr. Wasim Akram. So, now if the PCB can not survive without the services of Mr. Wasim Akram (even after considering the above stated views of Mr. Imran Khan and other legendary cricketers) he may be included in the PCB set up.

Moreover, as yet again the PCB stated in its press release of 30 October 2018 that the PCB maintains a zero-tolerance policy on corruption and would continue to stay vigilant through its Anti-Corruption Department at all levels of the game, both with players and officials, it is need of the hour for the top management of the PCB, to understand, that the mother of corruption is the CONFLICT OF INTEREST, about which the PCB management seems least concerned particularly with interactions of its officials and players with the PSL franchises; which is also evident from the fact that even after involvement of so many players of a PSL franchise in spot fixing scandal, not only no action has been taken by the PCB against its captain and other officials, but the PCB showing 100% tolerance of conflict of interest; made two of its senior management personnel, as members of the cricket committee.

In view of the foregoing, it is suggested that the cricket committee of the PCB may be broadly re-constituted by considering legend players with no conflict of interest like Wasim Bari, Javed Miandad, Iqbal Qasim, Sikander Bakht, Amir Suhail, Muhammad Yousaf, Abdul Qadir, Shoaib Akhtar and Shoaib Muhammad.

Last but not the least, the PCB (which has reiterated that it has not rejected the Justice Qayyum Match Fixing Inquiry Report) should also inform the Public about any action taken about the player, mentioned in the report, whose assets were found beyond means by the Ehtesaab Commission, which reported the matter to Justice Qayyum during the inquiry proceedings.

Dear Mr. Imran Khan Sahab.

AoA.

Sir,

I hope it will not be a news for you that in Pakistan there is no law for punishing match/spot fixings in sports.

In this connection, very frequently we Pakistanis are put to shame by media reports about our cricketers involvement in match/spot fixings.

In this regard, it will not be out of place to share below the opinion of legendary Sir Viv Richards about your integrity and patriotism and his thoughts about punishing the match fixing sportspersons:

An excerpt (pages 173-4) from the book “Sir Vivian The Definitive Autobiography” by VIV RICHARDS with Bob Harris.

Quote.
“The gentleman (Imran Khan) who was to become a renowned name in the world of cricket and a serious politician did not like what he saw that day. Fortunately, like many of these incidents, it was soon forgotten and since then I have come to know him. I respect his views and I went to a party at his house while on tour in Pakistan. Whenever we are around we try to get together, as we did during the recent World Cup in England. We definitely didn’t like one another at first, but gradually as we matured and got to know each other better we realised the world is a lot bigger than anything we have to offer and we started to respect each other. He was one of the fiercest competitor and, no matter how well you were batting, he would always have a delivery which could come and destroy you. I respect him and his cricketing views; and if the Pakistan side had a leader they looked up to and respected like they did him, they would be a much better and more consistent team than they are now. He always managed to squeeze the best out of his team. He (Imran Khan) and Miandad are two of the most patriotic individuals I have met, and I can identify with that. I am quite certain you wouldn’t be hearing stories about match fixing and other bad things if they were at the helm. BOTH WOULD DIE FOR THEIR COUNTRY.” Unquote.
Sir Vivian Richards, writing at page 219 in his book titled “Sir Vivian The Definitive Autobiography” states:
Quote.
“The problem (match-fixing) needs to be taken more seriously and be throughly investigated. Anyone caught and proved beyond doubt to be involved in match-fixing should be given the maximum punishment, both within the game and under the laws of the country in which it happens. In my view, it is a kind of treason, selling your country out. At one time that would have meant being put in front of a firing squad! How can anyone sell out his or her country for a few bucks? It is beyond my comprehension.” Unquote.

As such, in order to minimise match/spot fixings in our sports, it is highly imperative to immediately promulgate a law in Pakistan, which should make such acts by the sportspersons or any other person, of selling motherland for money, as a serious criminal offence punishable with heavy fines, confiscation of property and a long jail term.
Submitted for your urgent consideration please.

Best Regards,

Syed Nayyar Uddin Ahmad

If India can fetch 34 billion dollars in 2013, Pakistan in 2018 can also easily get $ 20 billion, by this scheme in which even foreign banks give loans at 1% to expatriates for investing in home country, at much higher rates.

If India can do it in 2013 why can’t State Bank of Pakistan lure inflows of billions of dollars through discounted foreign-currency swaps or IMF is the only panacea for our economic woes?

In 2013, the Indian central bank lured inflows of about $34 billion through discounted foreign-currency swaps, helping lift the
rupee from a record low.

Link:- https://m.timesofindia.com/business/india-business/worried-about-rupee-government-mulls-tapping-nris/articleshow/65753431.cms

Syed Nayyar Uddin Ahmad
03219402157
Lahore.

FCNR swap deal: What it means for NRIs

Recently the Reserve Bank of India (RBI) announced several measures to stabilize the Indian
rupee against the US dollar. Among them was a swap deal on FCNR deposits where the RBI has opened a window to the banks to swap fresh FCNR dollar funds, mobilised for a minimum term of three years at a fixed rate of 3.5% per annum for the tenor of the deposit. The swap window will be open until November 30, 2013.
What does this mean and will it impact Non Resident Indians investing in FCNR (B) deposits? We find out.
What is an FCNR account?
An FCNR account is a term deposit account that can be maintained by NRIs and PIOs in foreign currency. This account can be a good option for Non Resident Indians (NRIs) looking to invest in India without worrying about currency risks.
The funds in an FCNR account must necessarily come from your overseas funds. FCNR deposits can be maintained in ‘permitted currency’ which means any a foreign currency which is freely convertible and includes US dollar, Pound Sterling (GBP), Euro, Japanese Yen, Australian dollar, Canadian dollar, Danish Krone, Swiss Frank and Swedish Krona among others.
What are the features of FCNR accounts?

You can open an FCNR account for a minimum term of 1 year and maximum term of 5 years. The interest rates vary between terms and from currency to currency. Rates may also vary between banks. For instance, the rate for a 1 year FCNR deposit in US dollar would be in the range of 3-4% while the same for a deposit in Australian dollar would be 6-7%.
This interest is tax free in India. However, you may be subject to tax in the country of your residence for such interest.
Balances in FCNR can be freely repatriated outside India. You can also use the balance in FCNR account for making local payments in India.
How do banks manage FCNR funds?
Banks raise FCNR funds in various foreign currencies. They then sell the foreign currency in exchange for Indian rupees at the prevailing exchange rate and use the Indian rupees for domestic lending. When the FCNR deposit becomes due for maturity, banks would need foreign currency to pay the depositor. Waiting until the date of maturity to purchase foreign currency would leave the bank open to exchange rate risk. In order to protect this risk, banks hedge their FCNR commitments by entering into forward contracts. To explain with an example, if an FCNR deposit was opened today for a term of 1 year, the bank would enter into a forward contract to buy the foreign currency after a year at a fixed exchange rate. Currently the forward rate is at a premium of around 7% per annum. That means, if the exchange rate today is Rs 65 per dollar, banks would enter into a forward contract to buy the dollar at Rs 69.55 per dollar. This way, the bank hedges any uncertainty arising out of exchange rate risk.
What is the FCNR swap deal?

The swap deal was introduced as a means to encourage banks to attract more US dollars into India. The RBI has promised banks a forward rate at a premium of 3.5% per annum for all fresh 3-year FCNR deposits raised between now and November 30, 2013. So instead of hedging at the rate of 7% per annum, banks are getting this swap deal at 3.5% per annum. This acts as an incentive for banks to raise fresh FCNR funds as it lowers the cost of hedging.
This swap deal is open until November 30, 2013 and only for deposits opened in US dollar for a period of over 3 years.
Will this benefit NRIs?

NRIs are likely to be swarmed with offers from banks to open FCNR deposits. For an NRI, the FCNR deposit itself can be an attractive proposition because the interest rates on US dollar deposits are in the range of 3-4% per annum as compared with rates as low as 1% in the US. Further, this interest is tax free in India and there is no currency risk.
The swap deal may not necessarily impact NRIs directly unless banks decide to share their gains and increase the interest rates on these deposits.
However, according to reports, what is happening is that foreign banks are rushing to lend funds to NRIs who can invest the money into FCNR deposits. For instance, an NRI would invest $100 of his own funds and borrow $400 from the US branch of his bank. The interest rate on the loan would be say 1%. The NRI would then open an FCNR account in the Indian branch of the bank and earn interest of 4%. At the end of year 1, he would make a total interest of 4% on his own funds of $100 and a net interest of 3% on the borrowed funds of $400. That makes a total interest of $16 or 16% of the original investment. For banks too, this is a win-win as their loan gets covered by the FCNR deposit and they get access to funds at a lower cost.

Link:- FCNR swap deal: What it means for NRIs – Times of India https://timesofindia.indiatimes.com/nri/other-news/FCNR-swap-deal-What-it-means-for-NRIs/articleshow/23309748.cms

Syed Nayyar Uddin Ahmad
03219402157
Lahore.

Subject:-Credibility of any statesman and leader is the most priceless asset, which must never be compromised under any circumstances.

Dear Mr. Imran Khan Sahab.

AoA.

Sir,

Mr. Muhammad Zubair ex. Governor Sindh tonight offered in the ARY News program titled “Power Play” that he can arrange for PTI government, deferment of IMF’s loan repayments for one year.

In this regard, your kind attention is invited towards my proposal (emailed on 10 October 2018) for seeking moratorium on payment of loan instalments from IMF titled “Mr. Prime Minister we have seven other options to avoid IMF loan” posted on 14 October 2018 at www.snayyar.com
link:-

All round confusion in government – Sure recipe for defeat

The details of the one of the seven options to avoid IMF loans are quoted as below:

Quote:

“1 (a). Pakistan was economically devastated in fighting the American/NATO imposed War on Terror (as a front line State) suffering over $ one trillion losses in the shape of losses of human lives, financial and opportunity costs and damages to its goodwill and infrastructure; one example of which is that during this period Bangladesh moved ahead in education, family planning (1% population growth) and exports (45 billion USD/ year) which consisted mainly of textiles, by getting competitive edge over our textile industry, with zero percent tax for BD produced textile items (in developed countries) like towels and bedsheets etc., while Pakistani textiles were charged 20% tax, resultantly our products became uncompetitive and exports reduced from 25 billion USD to 20 billion USD per year.
1(b). In view of the foregoing, rather than going for borrowing from IMF we should seek (with diplomatic help as well) a moratorium on repayment of loans for five years and side by side implement the following scheme, to build up our foreign exchange reserves, so that economic crisis could be overcome with some out of box thinking to tackle the economic crisis from both supply and demand sides:” Unquote.

In this regard, when your government officials sings the mantra in unison that government has no other option except to resort for loans from the IMF, it leaves an adverse impression that government has decided for not to explore any other available option (which are many) and all the anti-poor pre-conditions of loans from the IMF will be accepted, without any hesitation, considering it, as the most easy option, leaving the poor in the lurch.

As such, necessary orders may be issued to all the concerned in the Finance Ministry to submit you a detailed report, why all other available options were not explored, before deciding to accept the loans from the IMF, which torpedoed your stated policy of never seeking loans from the IMF.

Credibility of any statesman and leader is the most priceless asset, which must never be compromised, under any circumstances.

Best Regards,

Syed Nayyar Uddin Ahmad

Dear Mr. Imran Khan Sahab

AoA.

Sir,

We take this opportunity to wish you all the success in your forthcoming visit to China.

In this regard, it is suggested that in order to bring Chinese investments in agricultural sector in Pakistan, your government may decide to immediately form a subsidiary company under Zarai Taraqiati Bank of Pakistan, with main task of funding, assisting and collaborating Research and Training with Agricultural Universities and Agricultural Research Institutes of Pakistan, to take Pakistan from primitive agricultural practices to the modern agricultural levels, for bringing a revolution in the country; which according to Mr. Asif Sharif [ I call him Pakistani Steve Jobs & a priceless genius of Pakistan] who is a world renowned, highly experienced & qualified Pakistani expert in modern agricultural practices, has the authentic potential to generate (within 2-3 years) an exportable agricultural produce surplus of over $20 billions. Few examples of which (according to Mr. Asif Sharif) are given as below.

~ We can produce sugarcane free of cost by multi cropping. Wheat covers the entire cost and sugarcane is totally free.

~ Production cost of wheat is Rs.950/40 kg, adding overheads, it costs Rs.1700. International price is less than Rs.800. Only in Sindh, we have 1.7 million tons wheat piled up since many years, rotting outside. On top of that it doesn’t meet international quality standards.
We can produce certified quality wheat at less than Rs. 100/40 Kg., instead of Rs.1700/40 Kg.

~ Over 70% water savings even on rice crop. Traditionally 5,000 to 7,000 litres of water (huge usage of already scarce water) is used to produce 1 kg repeat 1 Kg of rice.

In my humble opinion, Mr. Asif Sharif may also be included in your team of experts or appointed CEO (as he possesses vast corporate experience of multinational companies with travel experience of around 100 countries) of the proposed subsidiary of the ZTBL, which also has the potential to generate about 5 million jobs in the above referred agricultural revolution.

Mr. Asif Sharif and Dr. Ikram ul Haq, who is a world renowned Pakistani expert in Taxation and Law having tangible/solid contacts in Chinese Party circles as well, and can lure their businessmen for investment in agricultural sector in Pakistan, may also be included in your official entourage for visit to China.

Best Regards,

Syed Nayyar Uddin Ahmad

Mr. Prime Minster we have at least seven other options to avoid IMF loan..!

“ae tair-e-lahoti us rizq se mout achi – jis rizq se aati ho parwaz me kotahi”

Dear Mr. Imran Khan Sahab,

AoA.

Sir,

Tonight almost entire TV news channels of Pakistan were constantly playing your different speeches of few months back, wherein, you can be heard giving rock solid commitment to the nation that you will never go begging to the IMF for loans; and that a leader never lies with his public; obviously for the reasons which must have been in your knowledge about the research which concluded that suicide rates increased in the country’s which got loans from the World Bank and the IMF. In my opinion this phenomenon may have been occurring due to the reasons of higher unemployments created by the induced privatisations sans availability of any social support net work, increase in prices of items of daily use due to the devaluation of the currency and depression created because of the increase in utility rates and discontinuation of subsides, which are the fundamental demands of the loan giving agencies, to the already economically devastated and bankrupt countries.

Sir, if I were the PM and my economic managers would have suggested for resorting to IMF for a loan with strings of privatisations, massive devaluation of the currency, as happened with Pakistan on Tuesday 9 October 2018, when suddenly in the morning parity of PKR with USD took a dip to 137 from 125 (which according to one of your own speeches further burdened Pakistan with about $10 billion for just seeking a loan of $6-8 billion), increase in utility rates and removal of subsidies etc., I would have immediately replaced my entire team with such economic professionals, who could empathise with the pains and miseries of the teeming millions and had abilities to find alternative ways to meet the financial requirements of the country, which in my views are many, as explained below:

1 (a). Pakistan was economically devastated in fighting the American/NATO imposed War on Terror (as a front line State) suffering over $ one trillion losses in the shape of losses of human lives, financial and opportunity costs and damages to its goodwill and infrastructure; one example of which is that during this period Bangladesh moved ahead in education, family planning (1% population growth) and exports (45 billion USD/ year) which consisted mainly of textiles, by getting competitive edge over our textile industry, with zero percent tax for BD produced textile items (in developed countries) like towels and bedsheets etc., while Pakistani textiles were charged 20% tax, resultantly our products became uncompetitive and exports reduced from 25 billion USD to 20 billion USD per year.

1(b). In view of the foregoing, rather than going for borrowing from IMF we should seek (with diplomatic help as well) a moratorium on repayment of loans for five years and side by side implement the following scheme, to build up our foreign exchange reserves, so that economic crisis could be overcome with some out of box thinking to tackle the economic crisis from both supply and demand sides:

1(C). Immediate launching of a scheme for payment of 3% to 5% PA profit (payable bi-annually) on Foreign Currency bank deposits in Pakistan (backed by the sovereign guarantee of the GoP) with a suitable, but attractive fixed period, as suggested below:

~3% PA profit on deposits up to 2 million USD.

~3.5% Profit on deposits over 2 million USD and up to 3 million USD.

~4% profit on deposits over 3 million USD and up to 4 million USD.

~4.5% profit on deposits over 4 million USD and up to 5 million USD.

~5% profit on deposits over 5 million USD.

~The profits on the above scheme should be payable in the USD and should be exempted from ALL taxes and other deductions, as is also the case with Euro and Sukook Bonds, issued by the GoP.

This is a fool proof scheme, sans any risk, [if at all if fails, government will bear no loss] which can boost up our foreign reserves, in a very short time, on extremely cheap rates, as compared to the foreign loans and international bonds, which were sold by the previous government of PMLN, at even 8.25% interest rates: plus undisclosed Tax Exemptions of at least minimum benefits of around 7% (Pakistan will be repaying USD 910 million for USD 500 million Euro Bonds) for which the then PM Mian Nawaz Sharif was requested to hold an inquiry, to fix the responsibility of the culprit(s), who allowed the sale of Euro Bonds, on such a criminally high interest rates.

2. May approach REBO Bank and IDB which offer funding at extremely low interest rates of 1% and 2% respectively. Here it must be remembered that although, IMF needs 0.9% interest to cover expenses on loans, yet, harsh conditions it charged 3% interest to Pakistan on its last loan to Pakistan.

3. May have tried to get funds from the Asian Infrastructure Investment Bank (AIIB), which is operated from Beijing, China.

4. May consider pledging gold with China or any suitable country for obtaining loan against gold, as India did in July 1991, when Reserve Bank of India pledged 46.91 tonnes of gold with the Bank of England and the Bank of Japan to raise $400 million.

5. As detailed proposal has already been submitted to you vide emails titled “Suggestions to recover Pakistani wealth stashed abroad” link:- https://www.snayyar.com/suggestions-to-recover-pakistani-wealth-stashed-abroad.html#sthash.mBhTyTki.dpbs

6. Billions of USD can be easily generated by selling the government lands recently taken back from the encroachers or the government may consider selling the prime properties of President House, vast chunks from the hundreds of Kanals of PM House, the Governor House Lahore or the Prime value land of GOR-1 in Lahore, where in a suitable area, a luxurious world class residential tower can be built, for the residence of the government officers.

Sir, concluding, I would strongly stress that before giving the go ahead for getting strings attached IMF loans, just ponder for a moment that the voters have given their mandate to you, reposing their full trust in your promise that Imran Khan will never lie with his supporters.

May you always have the Blessings of Allah (SWT) to serve Pakistan for a long time to come.

Best Regards,

Syed Nayyar Uddin Ahmad

Subject:-Suggestions to recover Pakistani wealth stashed abroad

Dear Mr. Imran Khan Sahab.

AoA.

Sir,

This in continuation of our trailing emails of 29 August 2018 on the subject mentioned above.

We can bring savings of expatriate Pakistanis back to provide them dollar denominated saving instruments; perhaps bearer in nature, or no questions asked.

Say our current euro bonds are junk rated and trading at a discount rate of 8% or more, but not accessible to local populace or retail customers abroad; mostly institutional.

Just give a local bond at 5% to any and everyone interested, which is far more than any such rates in the world, hence, you glean in pakistani money from our diaspora, as well as, locals.

The caveat is no questioned asked to the source of money.

Best Regards,

Hamesh Khan S. Nayyar Uddin

Dated 29 August 2018
Dear Mr. Imran Khan,

AoA.

Sir,

Please refer to our trailing email dated 29 August 2018 on the subject mentioned above.

In this connection, Mr. Hamesh Khan and myself would like to further add the following:

The main difference between our proposed amnesty scheme and the recently floated amnesty scheme which expired on 31 July 2018 (wherein it was not mandatory to bring the foreign Pakistani wealth into Pakistan) is that we have proposed that any relief of whitening the Pakistani wealth stashed abroad, with payment of tax equal to the 2 to 10% of the total amount, will only be permitted, if, that total amount is transferred back to Pakistan.

The bigger impact of our proposed amnesty scheme relates to physical repatriation of funds stashed abroad to Pakistan, which will reflect as investment into the economy.

Tax regime of 2 to 10% will be a pittance compared with physical fusion of money.

In many a recessionary time, pumping money by the central bank is the panacea of all economic woes.

Investment and resultant Productivity invariably spurs Economic Growth.
Investment is a central factor in determining the gross domestic product, which is the aggregate measure of a country’s economic output.

As societies invest more, they increase their capacity to produce more goods and services at lower costs, meaning greater productivity and economic growth.

Investment, in short, drives increases in productivity and growth.
Economists define investment as spending on inventories, structures and capital, defined as equipment used for producing goods and services.

Investment fuels rises in productivity.
Because investment is a component of GDP, increasing investment can fuel economic growth as measured by annual increases in GDP.

Investment and economic growth rate data for various countries over a period of time, gives a very good insight on economic growth.

Countries with higher rates of investment, such as Japan, South Korea and Singapore, had the highest economic growth rates for extended periods on account of higher investments. These indicate a positive correlation between investment and economic growth.

Hence bringing back money tantamount to savings that gets infused into economy for larger growth.

Best Regards,

Syed Nayyar Uddin Ahmad
03219402157
Lahore.

Sent from my iPhone 7

On 29-Aug-2018, at 12:13 AM, Syed Nayyar Uddin Ahmad wrote:

Dear Mr. Imran Khan,

AoA.

Sir,

This has reference to the following titled news item published by the daily “Express Tribune” of 28 August 2018.

PM seeks suggestions to recover wealth stashed abroad:

Link:-https://tribune.com.pk/story/1789207/1-pm-seeks-suggestions-recover-wealth-stashed-abroad/

The above news item explains the following challenges which may be faced by your Task Force:

– Review of all cases of unlawfully acquired assets pending before the government departments and organisations.

– Review the existing mechanism, international agreements, coordination of government of Pakistan with sovereign governments.

– Work out modalities to fast track recovery of undeclared offshore assets.

– Only legal way to get back the offshore assets was to use the Mutual Legal Assistance (MLA) framework.

– Pakistan has not signed legally binding MLA treaties with key jurisdictions like the United States, the United Kingdom, Canada, the United Arab Emirate and Malaysia.

– There was also lack of enabling domestic MLA law, which will become an obstacle in retrieval of assets.

– There is lack of robust interagency coordination.

– Another challenge that Pakistan will face is that it will have to establish that these were bona fide cases of recovery of assets and these were not politically motivated cases.

– Pakistan will also have to first lodge criminal cases against such individuals in local courts.

In view of the foregoing, there remains no doubt that the job of the Task Force set up to recover unlawfully acquired foreign assets is such that it will involve years of efforts to achieve any success.

As such, it is suggested that a plan B as detailed below, may be simultaneously launched to bring back foreign wealth of Pakistanis by an incentive scheme on the lines of the Indonesian model, which helped Indonesia bring back $366 billion.

In this regard, please note that under the last/latest offshore and domestic tax amnesty scheme, about 5,300 Pakistanis availed the offshore scheme and declared over $8 billion assets. But the repatriation to Pakistan remained less than $70 million.

The below mentioned suggestion is based for an estimated recovery of around 150 billion USD that too without involving any legal or administrative expenses spread over a large period of time.

PROPOSED SCHEME

Bringing back wealth has to be a collaborative process and will not yield results otherwise.

Indonesia which has a similar tax to GDP ratio as ours was able to repatriate US$366 billion through a voluntary amnesty scheme.

The main peg of the scheme was caveat of “no questions asked”.

It was a year long scheme with a varying tax rate of 2 to 10 percent.

Raising revenues through taxation is simply one aspect of revenue raising; the DECLARED MONEY VELOCITY is what spurs the economic expansion with sustainable results.

Policy makers can directly increase revenues by increasing tax rates on the rich, reducing tax breaks, expanding tax base, improving enforcement and levying new progressive tax.

Indirectly increase revenues through policies that increase economic activity, income and wealth.

One key overlooked aspect is fiscal responsibility through spending cuts, belt tightening on establishment cost across the board; but all of the aforementioned can only be achieved through a shared sacrifice psyche of the nation.

Among others, We need to work on savings and investments.

Policies that increase the number of people in work force, number of hours they work, skills, physical and intellectual capital.

Improving economy isn’t an insurmountable challenge, but the political will to push through, with less popular decisions, will test the leadership.

Co-authored by:

Hamesh Khan

Syed Nayyar Uddin Ahmad

Best Regards,

Syed Nayyar Uddin Ahmad
03219402157
Lahore.

Sent from my iPhone 7

Excellency Mr. António Guterres,

Greetings.

There is no doubt that your excellency personally deserves the award of Nobel Peace Prize and I profoundly congratulate your excellency, on the re-emergence of UNO, under your dynamic leadership, as a potent and fearless organisation, which is firmly standing up against the genocide of the hapless people and Human Rights violations, all over the globe.

In the veracity of my above statement the following two monumental reports of UNO are living testimony of the sudden turnaround, being noticed in the performances of the UNO, with special reference to the attention towards the protection of the Human Rights of the weak and subjugated humanity.

1. First-ever UN human rights report on Kashmir calls for international inquiry into multiple violations

Link:- https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=23198

2. Myanmar military leaders must face genocide charges – UN report
Link:https://news.un.org/en/story/2018/08/1017802

In continuation of the above, an email was also sent (link provided below) addressed to the Prosecutor International Criminal Court dated 16 September 2018 titled “Fit case for war crimes trial of the leaders of the Indian government and its forces commanders/troops for genocide of Kashmiri population living in Indian Occupied Kashmir” contents reproduced as below:

Quote. “As it may be already very well in your knowledge that UN has described the 8,00,000 Rohingya Muslims in Myanmar, as one of the most persecuted minorities in the world, being tortured, displaced, faced travel and trade limitations, murders, now Rohingya Muslims face child-limitation policies as well.
Similarly, over 10 million Kashmiri Muslim population living since 1947 under Indian occupation forces, are the most persecuted MAJORITY in the world. The list of humanly unimaginable atrocities perpetrated for the last almost seven decades, is so long that its compilation will be more voluminous, than the final print edition of 2010 of 32-volume set of Encyclopaedia Britannica.

YOUR EXCELLENCY, LET NOT THE POSTERITY DOCUMENT THAT YOU SIDED WITH THE HOLOCAUST OFFENDERS OF INDIA AND FAILED TO USE YOUR INFLUENCE TO STOP GENOCIDE OF INNOCENT KIDS, WOMEN AND MEN DEMANDING THEIR LEGAL AND MORAL RIGHT OF SELF DETERMINATION.
REMEMBER KASHMIRI PEOPLE ARE NOT ASKING FOR THE MOON.”
Unquote.

Mr. Ban ki-moon Kashmiris are not asking for moon – An open letter to Mr. Ban Ki-moon
Link:- https://www.snayyar.com/ban-ki-moon-kashmiris-are-not-asking-for-the-moon-an-open-letter-to-mr-ban-ki-moon-secretary-general-of-the-uno.html#sthash.kOz2eXgF.dpbs

In continuation of the above, an email was also sent (link provided below) addressed to the Prosecutor International Criminal Court dated 16 September 2018 titled “Fit case for war crimes trial of the leaders of the Indian government and its forces commanders/troops for genocide of Kashmiri population living in Indian Occupied Kashmir” contents reproduced as below:

Quote.

“We invite your kind attention towards war crimes being continuously committed and perpetrated by the Indian Army’s leadership and troops under command and orders of the top Indian civilian government leadership in the geographical area of Kashmir under occupation of the Indian forces.

This illegal and unlawful Indian occupation of Kashmir, for a period of over seven decades, is an internationally and UN recognised dispute, as per the security council resolutions, which called for allowing/giving the right of self determination to the Kashmiri population, which is being continuously denied by the Indian government, despite of the fact that the UN military observers are posted both in India and Pakistan. As such, the presence of UN military observers proves beyond any shadow of doubt that Kashmir is NOT and has never been an internal issue/matter of India and that it needs to be resolved as per the relevant UN Security Council Resolutions.

During the above mentioned period of over seven decades, the Kashmiri population has been waging (as allowed under the UN charter) relentless struggle for their right of self determination, paying heaviest price in the history of mankind, in the shape of deaths, injuries, rapes, blindness by attack of pellet guns, abductions, jails and worst imaginable torture perpetuated by the Indian security forces.

In this regard, we take this opportunity to bring to your notice the latest case of war crime committed by the Indian occupying forces in the Indian Held Kashmir, as reported by the daily “The Express Tribune” dated 15 September 2018 titled “
‘Barbaric conduct’: Viral picture shows Indian soldiers dragging body in IoK

Link:- https://tribune.com.pk/story/1803947/3-barbaric-conduct-viral-picture-shows-indian-soldiers-dragging-body-iok/

Moreover, for the detailed study of the reports of the highly reputed International Organisations, about the unparalleled Human Rights violations and unimaginable magnitude of genocide/manslaughter of Kashmiris, committed by the Indian forces, on the orders of their civilian leadership, is duly chronicled and can also be perused at the links given below:

1…https://www.snayyar.com/ban-ki-moon-kashmiris-are-not-asking-for-the-moon-an-open-letter-to-mr-ban-ki-moon-secretary-general-of-the-uno.html#sthash.m7z4Mocn.dpbs

2…https://www.snayyar.com/stop-genocide-in-kashmir.html#sthash.EjvTJiMu.dpbs

In view of the foregoing, you as the Prosecutor of the International Criminal Court, are requested to immediately initiate necessary proceedings, as per laws of the war crimes, against the responsible Indians, on charges of worst possible human rights violations, in the history of the mankind; of the Kashmiris living under Indian occupation of their land.

Best Regards,

Syed Nayyar Uddin Ahmad
+923219402157
Lahore.”

Unquote.

Wither Human Rights – Kashmir
An appeal to the Prosecutor
International Criminal Court
Post Office Box 19519
2500 CM
The Hague
The Netherlands

Link:- https://www.snayyar.com/wither-human-rights-kashmir.html#sthash.Dmm16FZk.dpbs

Keeping in view of the fact that from today your excellency is visiting India, where the only untenable argument about Kashmir you are going to get is that it was an integral part of India and it was their internal matter.
Now the question is (even if their untenable argument is accepted for a moment) no law permits Indian authorities to subjugate Kashmiri people with unleashing worst holocaust for over seven decades, when Kashmiris have already decided to live with Pakistan, which is daily manifested by the fact that Kashmiris martyred (on daily basis) are burying their dead wrapped in Pakistani flags.

Moreover, if UN can decide and recommend war crimes trials of Myanmar Military Personnel (where Rohingya Muslims were already their internal matter as no UN Military Observers were posted in Myanmar) why not UN is recommending war crimes trial against the responsible persons of the Indian government authorities which is now using CHEMICAL WEAPONS against the hapless Kashmiris and where UN High Commissioner for Human Rights Mr. Zeid Ra’ad Al Hussein has already stated in his report that there is an urgent need to address past and ongoing human rights violations and abuses and deliver justice for all people in Kashmir, who for seven decades have suffered a conflict that has claimed or ruined numerous lives.

Moreover, Indian argument also does not hold water (that Kashmir was their internal matter), because under the UN resolutions about Kashmir, the UNITED NATIONS MILITARY OBSERVER GROUP IN INDIA AND PAKISTAN is working; which is a undeniable testament of the fact that Kashmir is a disputed issue between India and Pakistan and all UN documents and Map’s show Kashmir as a disputed territory and not as an Indian territory, where millions have been killed by the Indian Forces over a period of seven decades, just because Kashmiris were and are demanding their Right of Self Determination, exactly as per the Charter of the UNO.

Your excellency it will not be out of context to inform that in the month of September 2018 the details of the casualties of Kashmiri youths caused by the of Indian forces are as below:

– 42 Killed.
– 231 Injured (including pallet gun injuries).
– 399 Arrested.

The above mentioned latest details of just a single month (September 2018) proves beyond shadow of any doubt that Indian government is determined to exterminate with impunity, from the face of this Earth, the entire youth and young generation of Kashmiris, in a systematic, planned and organised manner, even putting to shame the holocaust caused by Adolf Hitler.

In view of the foregoing, and considering that Kashmir has now become a flashpoint, between the two nuclear power neighbours, which has endangered the peace of the entire world, your excellency is requested to use your authority as the Secretary General of the United Nations, to immediately call a meeting of the Security Council, to address the following issues:

– Looming imminent danger of a full blown nuclear war between Pakistan and India over Kashmir crises.

– Initiative for commencement of war crimes trial against Indian government’s responsible personnel.

Concluding, it is also requested that your excellency may take any suitable action, applying your own independent mind during your current three day visit to India, without being influenced by the false propaganda of the Indians, who yesterday brought this world further closer to the brink of a nuclear armageddon, by firing on a civilian helicopter (legally flying much inside Pakistani territory) which on board had the Prime Minister of AJ&K’s government.

Best Regards,

Syed Nayyar Uddin Ahmad
03219402157
Lahore.