Posts

Showing posts from January, 2022

NY Times: Modi Bought Israeli Pegasus Spyware as Part of $2 Billion Deal

Image
In a long investigative report titled "The Battle for the World’s Most Powerful Cyberweapon" published today, the New York Times has revealed that the Indian Prime Minister Narendra Modi bought the Pegasus spyware as part of a 2017 $2 billion deal he signed with then Israeli Prime Minister Benjamin Netanyahu.  Israeli NSO Pegasus Spyware Here's the relevant excerpt of the New York Times report on Modi-Netanyahu deal: "In July 2017, Narendra Modi, who won office on a platform of Hindu nationalism, became the first Indian prime minister to visit Israel. For decades, India had maintained a policy of what it called “commitment to the Palestinian cause,” and relations with Israel were frosty. The Modi visit, however, was notably cordial, complete with a carefully staged moment of him and Prime Minister Netanyahu walking together barefoot on a local beach. They had reason for the warm feelings. Their countries had agreed on the sale of a package of sophisticated weapons an

Pakistan Cut Public Debt in Half On Musharraf's Watch in 1999-2008

Image
In 1999, President Pervez Musharraf inherited a massive debt of over 100% of GDP run up by the Pakistan Peoples Party and the Pakistan Muslim League (Nawaz) governments in 1990s. Musharraf's policies not only revived the bankrupt economy but also brought down debt to 52% of GDP by 2007.  Pakistan Debt to GDP 1995-2021. Source: IMF PPP Government's 2008 Letter to IMF: In a letter to the International Monetary Fund in 2008, the PPP government hailed Musharraf's economic record without mentioning his name in the following words: "Pakistan's economy witnessed a major economic transformation in the last decade (2000-2008). The country's real GDP increased from $60 billion to $170 billion, with per capita income rising from under $500 to over $1000 during 2000-07.....the volume of international trade increased from $20 billion to nearly $60 billion. The improved macroeconomic performance enabled Pakistan to re-enter the international capital markets in the mid-2000s.

Pakistan Nuclear Power Generation Soared 66% in 2021

Image
Nuclear power plants in Pakistan generated 15,540 GWH of electricity in 2021, a jump of 66% over 2020. Overall, Pakistan's power plants produced 136,572 GWH of power, an increase of 10.6% over 2020, indicating  robust economic recovery  amid the COVID19 pandemic.  Pakistan Electric Power Generation. Source: Arif Habib Hydroelectric dams contributed 37,689 GWH of electricity or 27.6% of the total power generated, making hydropower the biggest contributor to power generated in the country. It is followed by coal (20%), LNG (19%) and nuclear (11.4%).  Cost Per Unit of Electricity in Pakistan. Source: Arif Habib Nuclear offers the lowest cost of fuel for electricity (one rupee per KWH) while furnace oil is the most expensive (Rs. 22.2 per KWH).  Pakistan Electric Power Generation Fuel MiX. Source: Arif Habib Construction of 1,100 MW nuclear power reactor  K2 unit in Karachi  was completed by China National Nuclear Corporation in 2019, according to  media reports . Fuel is being loaded

Pakistan Economy "Not in a Good Place"? Atif Mian's Gloom Justified?

Image
Pakistani-American economist Atif Mian has recently analyzed Pakistan's economy in a series of  tweets . He has said "Pakistan's economy is not in a good place", adding that the nation's "per capita income has not risen in 3 years (in fact down slightly)". He has particularly mentioned the country's "exaggerated external demand driven by its rentier economy", "flawed energy policy" and "a broken economic decision system" among the main causes for poor economic performance.  Is Atif Mian's diagnosis correct? Is the official reported data Atif Mian using accurate? What is the current PTI government doing or not doing to correct the problems identified by Mr. Mian? Let's try and assess the situation.  Economist Atif Mian's Tweet on Pakistan Economy Per Capita Income: Pakistan's officially reported GDP and per capita incomes are  grossly understated . These are based on the last economic census that was done

Pakistan Pursuing Ambitious Program to Build Social Safety Net

Image
Pakistan's PTI government has built South Asia’s first digital National Socio-Economic Registry (NSER) as a part of its ambitious effort to build a basic social safety net. The Ehsaas (also known as BISP- Benazir Income Support)) program's socio-economic registry includes household information by  geography, age, income, education, health, disability, employment, energy consumption, land and livestock holdings etc.  Ehsaas Programs  include both Unconditional Cash Transfers (UCT) and Conditional Cash Transfers (CCT). Unconditional Cash Transfers are made only to people living in extreme poverty or distress. Conditional Cash Transfers like  Waseela-e-Taleem  and  Nashonuma   are given for education and nutrition respectively.  In addition, there are feeding centers ( langars ) for the hungry and shelters ( panahgahs ) for the homeless. Development of Ehsaas Social Registry. Source: Maintains The National Socio-economic Registry will be regularly updated to keep it current and de

Pakistani-American Surgeon Transplants Pig Heart into A Human Patient

Image
Pakistani-American heart surgeon Dr. Mohammad Mansoor Mohiuddin and Dr. Bartley Griffith performed the first successful genetically-modified pig heart transplant into a human patient today at University of Maryland School of Medicine (UMSOM) hospital in Baltimore, according to the  University's press release . Considered one of the world’s foremost experts on transplanting animal organs, known as xenotransplantation, Muhammad M. Mohiuddin, MD, Professor of Surgery at UMSOM, joined the UMSOM faculty five years ago and established the Cardiac Xenotransplantation Program with Dr. Griffith. Dr. Mohiuddin serves as the program’s Scientific/Program Director and Dr. Griffith as its Clinical Director.     Dr. Mohammad Mansoor Mohiuddin Dr. Mohiuddin is a 1989 graduate of the Dow University of Health Sciences, Karachi, Pakistan. He came to the United States in the early 1990s and did a fellowship in Transplantation Biology and Immunology, Department of Cardiothoracic Surgery Harrison Depart

Pakistan Gets First Woman Supreme Court Judge Despite Top Judges' Opposition

Image
Judge Ayesha Malik has been confirmed as Pakistan's first woman Supreme Court judge in the face of strong opposition by the majority of sitting judges of the top court and Pakistan Bar Council. It was two  affirmative votes by the PTI government representatives that helped her win 5-4 confirmation in the Supreme Judicial Council (SJC). Only two of the five sitting Supreme Court judges who are members of the SJC supported her confirmation.  Justice Ayesha Malik The historic nomination of Justice Ayesha Malik was supported by Chief Justice Gulzar Ahmed,  Justice Umar Ata Bandial, ex-judge Sarmad Jalal Osmany, Law Minister Barrister Farogh Naseem and Attorney General (AG) Khalid Jawed Khan. It was opposed by Justice Qazi Faez Isa, Justice Maqbool Baqar, Justice Sardar Tariq Masood and Pakistan Bar Council (PBC) representative Akhtar Hussain opposed the selection.     Justice Ayesha Malik is a Harvard Law School graduate. She started her legal career working with Mr. Fakhurddin G. Ebra

Double Digit Rise in Energy Consumption Confirms Pakistan's Economic Recovery in 2021

Image
Oil consumption in Pakistan jumped 19% to 20.8 million tons in 2021, a strong indication of the country's economic recovery from the COVID-impacted 2020. In addition to oil, Pakistanis also consumed nearly 4 billion cubic foot of natural gas every day. Energy is fundamental to the functioning of any economy.  Pakistan Oil Consumption. Source: Arif Habib Pakistan's furnace oil consumption has been declining for several years as power producers continued to switch fuel to liquified natural gas (LNG) in recent years. However, the sudden jump in LNG prices forced them to use more furnace oil in  year 2021  than in 2020. There was also a big jump in diesel (HSD) and petrol (MS) with a rise in number of vehicles on the nation's roads.  Pakistan LNG Imports 2017-2021 in million tons    Pakistan Natural Gas Consumption in Billion Cubic Feet Per Day “Year 2021 proved to be remarkable for the automobile sector as there was a volumetric sales growth of 90% on a year-on-year basis to 2