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Legislation against corruption will be PTI govt.’s priority

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Legislation against corruption will be PTI govt.'s priority

PESHAWAR: Pakistan Tehreek-e-Insaf’s nominated candidate for Speaker of National Assembly, Asad Qaiser has said that legislation to eradicate the menace of corruption from the country would be the top priority of the new PTI government.
Talking to media he said that measures would be taken to provide better facilities to the people in education, health sectors besides providing job opportunities to the youth of the country.
He said that rule of law was imperative for development and to move the country ahead. Asad Qaiser said the PTI government would take the opposition parties on-board on matters of national importance and for the development of the country.

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Economy

Trump’s sanctions on Turkey, Russia rattle global financial markets!

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NEW YORK: The Trump administration is unsettling markets and US allies as it makes increasing use of powerful sanctions, underscoring President Donald Trumps willingness to act alone on foreign policy even at the expense of heightening global instability, according to The Financial Times.
Turkish and Russian markets were hit hard last week as US sanctions exacerbated concerns about the fragility of emerging markets, the newspapers said in a dispatch.
The Turkish Lira [is sliding] rapidly downward against our very strong Dollar Trump tweeted on Friday, as he announced a tariff increase on Turkish steel and aluminum to add to sanctions against Ankara’s interior and justice ministers.
Meanwhile, Turkeys currency fell to another record low on Monday, hitting stocks in Europe and Asia and raising fears that the country is on the verge of an economic crisis that could spread to other emerging markets, The New York Times said.
The crisis and tensions with the United States has raised concerns over whether emerging economies that have benefited in recent years from foreign investment may also be vulnerable, according to the Times.
Rising interest rates in the United States and in Europe have made investor less tolerant of emerging markets. Foreign investors piled money into Turkish assets for years, lured by what appeared to be a stable economy and higher returns. But as interest rates rise in countries seen as safer, the relative attractiveness of riskier investments wanes. A crisis like the one in Turkey may be all it takes to send them fleeing, the Times added.
Turkeys central bank insisted over the weekend that it would take all necessary measures to preserve the country’s financial stability.
In his Friday’s tweet, President Trump also said, Our relations with Turkey are not good at this time
The dispute between Washington and Ankara over the detention of a US pastor has contributed to the 28 percent slump in the Turkish lira against the dollar this month.
The Russian rouble has fallen 6 percent since the US announced sweeping sanctions on Wednesday over the near-fatal poisoning in the UK of a former Russian spy.
Iran has also come under mounting financial pressure after the US reimposed sanctions following its withdrawal from the nuclear deal with Tehran, despite objections of close allies that had also signed the pact. The Iranian currency has fallen 60 percent this year, forcing the country’s central bank to relax foreign exchange restrictions, according to The Financial Times.
The US has to rehabilitate its addiction to sanctions & bullying or the entire world will unite beyond verbal condemnations to force it to, Javad Zarif, Irans foreign minister said on Twitter on Saturday, describing Washingtons sanctions against its Nato ally Turkey as shameful.
The US has been increasingly using sanctions since the 1990s, particularly after George W Bush ramped up activity after the September 11, 2001, attacks. But Trump has taken the measures to a new level, as he seeks to take muscular executive actions that avoid the cost of military entanglements and yet have an impact, The Financial Times said.
The US Treasury last year added 944 people and entities to its sanctions list the highest number since 2001, according to Gibson, Dunn & Crutcher. Adam Smith, a partner at the law firm and a former senior sanctions official at the US Treasury, said it was on track to add a further 1,000 names this year. It is almost a perfect storm, John Smith, a former head of the Treasurys Office of Foreign Assets Control now at Morrison & Foerster, another law firm, was quoted as saying.
You have global crises that the US wants to confront, you have a Congress that is skeptical of the administration, particularly with respect to Russia and you have an administration that is far more willing to confront not only foes but also friends. Trumps decision to sanction the Turkish cabinet ministers over Ankara’s refusal to release a US pastor who is under house arrest was an unprecedented move against a Nato ally, The Financial Times said.
Daniel Tannenbaum, a former OFAC official now at PricewaterhouseCoopers (PwC), said it was an example of Trump using sanctions like an economic missile with an immediate impact. You have a president who likes to have quick results and you have sanctions even the mere threat of them, can dramatically impact a targets economy, he added.  The danger is that the aggressive approach and sometimes lack of coordination with allies exacerbates turbulence in financial markets that becomes difficult to contain.
Richard Nephew, a sanctions expert at Columbia University, cited the imposition in April of sanctions on the business empire of Russias Oleg Deripaska as an example of the US having a shoot first ask question later mentality. The backlash in markets and foreign capitals prompted the US to seek ways of lessening the repercussions.
Nephew said the sanctions against Iran may suffer because US allies did not support them, meaning there could be a profusion of loopholes and evasions by companies.
Jack Lew, Treasury secretary in the Obama administration, said multilateral participation had helped the administration pressure Iran to come to the table. But now, the world looks at US policy and there’s an unpredictability to it that makes for a high degree of nervousness, Lew said in an interview with The Financial Times.
Turkeys economy is only the 17th largest in the world, but its problems are worsening Trump’s trade war is rattling global commerce, damaging longtime alliances and threatening economic growth worldwide, The New York Times said.
In Turkey, Turkeys President Recep Tayyip Erdogan has blamed the crash of the lira on the United States, claiming a political, underhand plot had sent the value of his country’s currency tumbling to record lows, according to media reports.
The Turkish leader accused President Trump of waging economic war against the entire world after the American leader escalated a diplomatic feud by doubling tariffs on steel and aluminum.
The aim of the operation is to make Turkey surrender in all areas, from finance to politics, the Turkish president told supporters in the Black Sea city of Trabzon
The lira has lost more than 40 percent of its value against the dollar this year, amid worsening ties between Turkey and the US and concerns over We are once again facing a political, underhand plot. With Gods permission, we will overcome this.”

 

 

 

 

 

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KPK

Mushtaq Ghani is the PTI  candidate for the post of KP PA Speaker!

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PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) today nominated Mushtaq Ahmad Ghani MPA, hailing from Abbottabad, as its candidate for the post speaker Khyber Pakhtunkhwa Assembly.
A spokesman for PTI media cell informed APP that Mahmud Jan MPA hailing from Peshawar would contest the election for deputy speaker Khyber Pakhtunkhwa Assembly.
The election for the post of Speaker and Deputy Speaker will be held on August 15.
The aspirant candidates can file nomination papers for the elections of Speaker and Deputy Speaker by 4 pm on August 14.
The PTI has attained a two-thirds majority in the KP Assembly in the recently held elections and as such its candidates would face no problem in occupying both these coveted slots.
However, the opposition parties have also decided to field joint candidates for the post of Speaker and Deputy Speaker KP Assembly.
The opposition not named yet their candidates.

 

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KPK

TDPs of Mamozai tribe return to home after 10-year: Col. Umar

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food disposed

PESHAWAR: The Temporary Displaced People (TDPs) Mamozai tribe returned to their homes in Orakzai tribal district after a long 10-year from Yak Kando, District Hangu, Wing Commander Col Umar said today.
Talking to media men Col. Umar disclosed that to the dignified return of the Mamozai tribes to their home they have developed a single entry at Yak Kando, District Hangu. He said that the return process of the Mamozai tribe would be continued till August 20, 2018.
He said from in the first phase 1044 families from 21 villages had returned to their homes while in the ongoing second phase 5962 families from 35 other villages are going to their homes for which all
arrangements have been made accordingly.
Wing Commander Col. Umar said that the 233 wing of Orakzai Scout is looking all affairs of the return of TDPs to their homes in a dignified way. Col. Umar said that the third will be completed soon after
Eid-ul-Azha in which a total of 8000 families of 67 villages would be returned to their hometowns.

 

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