"Peace in South Asia is hostage to one accident,
one act of terrorism, one strategic miscalculation by India," the
president said while addressing the 57th session of the UN General
"In this dangerous situation, crisis management
cannot afford to become a substitute for conflict resolution,"
Musharraf said as he outlined his three-point proposal for reducing
tensions in the region: 1)
Mutual withdrawal of forward deployed forces by both states, 2)
observation of a ceasefire along the Line of Control in Kashmir, and 3)
cessation of India's state terrorism against the Kashmiri people.
He said the structure for such a dialogue should be
based on the formula agreed upon in his meeting with Indian Prime
Minister Atal Behari Vajpayee in Agra in July 2000.
The people of Kashmir, he said, should be fully
associated with the dialogue process and should be allowed to travel
freely in Pakistan and Azad Kashmir.
To ensure sustainable peace and stability in South
Asia, Musharraf said: "A Kashmir solution should be accompanied by
agreed measures for nuclear restraint and a conventional arms balance
between India and Pakistan.
"India's ongoing massive military build up
reflects its known desire for domination over South Asia and the Indian
Ocean. In the interest of regional and global stability, this must be
discouraged," he added.
"Misusing the rationale of the war against
terrorism, India has sought to de-legitimize the Kashmir freedom
struggle, tarnish Pakistan with the brush of terrorism and drive a wedge
between it and its coalition partners," he said.
INCREASE IN PDL MAKES POL COSTLIER
Petrol and diesel have become costlier by eight to
nine per cent from September 1, 2001 to September 2002 as a result of
increase in petroleum development levy (PDL) followed by surge in
dealers' and distributors' margins and not because of increase in
international oil prices.
Petrol is now priced at Rs34.32 per litre as compared
to Rs31.64 per litre on September 11, 2001, showing a rise of 8.47 per
Diesel price is now tagged at Rs19.48 per litre as
compared to Rs17.77 per litre, up by nine per cent, while kerosene,
which was being retailed at Rs17.40 per litre, is now available at
Rs18.41 per litre.
Oil prices were hovering between $26-27 a barrel a
year back as compared to prevailing prices of $28-29 a barrel.
GOVT NOT TO CHANGE COTTON TRADE POLICY
The government has decided not to change the policy
of free import and export of the silver fibre, said Commerce Minister
Abdul Razak Dawood, on Monday.
While addressing a press conference after a seminar
on cotton at the Central Cotton Research Institute (CCRI), the minister
said after taking into account the view-points of the all stakeholders
— growers, ginners, exporters/importers and textile mill owners — it
has been decided that the policy of free cotton import and export must
UPLIFT AID TO PAKISTAN WILL CONTINUE: JAPAN
Japanese Prime Minister Junichiro Kozumi assured
Pakistan on Wednesday that Japanese aid for Kohat Tunnel, Indus Highway
and other projects would continue and that his country would keenly
observe the upcoming general election in Pakistan.
Talking to journalists after talks with the leaders
of Japan, Denmark and Bulgaria, President Pervez Musharraf said the
bilateral meetings had been excellent.
He said a number of issues, including the tension
between India and Pakistan and the October elections, had been discussed
during the bilateral meetings.
NEW COMMISSION REPLACES UGC
President Pervez Musharraf on Wednesday established
the Higher Education Commission through an ordinance which will replace
the University Grants Commission (UGC).
The controlling authority of the new commission will
be the prime minister or the chief executive, who will then appoint a
chairperson, having international eminence who has made significant
contribution as teacher, researcher or administrator. The chairperson
will have the status of a federal minister.
INCOME TAX RELIEF FOR SALARIED CLASS
The Central Board of Revenue(CBR) has amended the
income tax rules 2002 extending some relief to the salaried class.
CBR, in this regard, issued a notification on
Wednesday substituting Part-I of chapter-II of the Income Tax Rules,
2002. The revised rules would thus stand enforced, added the
UBL SELL-OFF TRANSPARENT
The Privatization Commission (PC) on Tuesday claimed
that the UBL transaction was transparent and was very much in line with
the required procedure.
A spokesman for the PC in a statement said that UBL
transaction has attracted a lot of publicity and almost every day there
is some news item or article appearing in the media hotly debating the
transaction and its outcome.
WAPDA SHARES' TRANSFER
The government would transfer 100 per cent shares of
Wapda worth around Rs300 billion to 12 corporate companies before Dec
31, 2002, to enable sale of these entities to the private sector,
informed sources told.
These Wapda shares were earlier transferred from
'Residual Wapda' to President of Pakistan around two years back as
required under $1 billion power sector restructuring and reforms
programme of the World Bank (WB) and the Asian Development Bank (ADB)
for onward transfer to the private sector after privatization.