10 Asian LEADER
15 Jan - 28 Jan 2014
Commission approves
privatisation of PIA,
other entities
P
akistan’s
Privatisation Commission on
Wednesday gave the
go-ahead to the privatisation
of three state-owned entities, including the national
flag carrier Pakistan International Airlines (PIA).
A meeting of the board
of directors of the commission was held in the federal
capital today to discuss the
sale of the Heavy Electrical
Complex (HEC), the National Power Construction
Company (NPCC), and the
divestment of a minimum of
26 per cent shares of PIA to a
strategic partner.
The meeting was chaired
by Minister of State, Privatisation Commission, Mohammad Zubair.
The board resolved to divest a minimum 26 per cent
shares to a private investor
and approved initiation process for the selection of a
financial adviser for the purpose.
According to a press release, the board also resolved
that “the employees’ interests shall be protected in the
process.”
The commission’s board
also approved the strategic
sale of the Heavy Electrical
Complex and the National
Power Construction Company, and gave its nod to initiate the process for both the
entities.
The board’s decisions will
now be placed before the
parliament for a final approval.
The privatisation of the
national flag carrier has been
a contentious issue fiercely
resisted by opposition parties and worker unions in
Pakistan.
A Senate committee on
privatisation was informed
by Finance Secretary Dr
Waqar Masood Khan that
Camel Beauty
Contest in United
Arab Emirates
Thousands of camels strut their stuff in a beauty
pageant where judges are impressed by long
necks and big humps.
I
t is one of the world’s
most unique beauty pageants.
Every year people travel
thousands of miles, from
across the Gulf, to the Western Region of the United
Arab Emirates to attend the
prestigious event.
But you won’t find any
designer dresses, tiaras or
make-up artists here because they’ve come to seek
out the region’s next top
camel.
The Al Dhafra festival is in
its seventh year and seeks to
celebrate and promote Bedouin culture.
The highlight is the camel
beauty pageant which sees
thousands of contestants
strut their stuff in two competitions: one for the lightcoloured Asayel breed and
another for the dark-skinned
Majahim.
They’re judged on a range
of criteria from the size of
the head, length of its neck
and the shape of the hump.
And big is most definitely
considered beautiful.
But looks aren’t everything and points are also
awarded for model behaviour with the very best camels sold for up to £2m.
Khamees Mohammad al
Sharee, a camel owner who
regularly attends the festival, explains how the winners are picked.
“There is a special committee, appointed by the authorities, which judges the
competition. They place all
the camels together in one
pen and decide.”
For many people in this
part of the Middle East the
protection
of
pure-bred
camels is integral to the
preservation of their history
and traditions.
These “desert ships”, as
some refer to them, historically provided Bedouins
with a source of milk and
transportation. They’re also
seen, more recently, as a potentially profitable business
investment.
And it’s not just millions
of pounds worth of cash
prizes and cars that entice
people to come. It’s a matter
of national pride with camel-owning families from the
UAE, Qatar, Saudi Arabia,
Oman and other Gulf states
all competing.
It’s also attracting interest from further afield. For
South African, Danielle Tennant, it was her first experience of a camel beauty pageant.
“As we arrived we were
ushered in and we were
given a personal guide. We
tried some amazing Arabian
coffee and we’ve been taken
around to the stalls.
“It’s been quite fascinating to think it’s another
whole interest, a passion
people have.”
As well as the beauty pageant the Al Dhafra festival,
which runs for two weeks,
also hosts camel races, saluki races, falconry competitions and a traditional Emirati market.
the government was required to appoint a financial
adviser for the privatisation by March-end under an
agreement with the International Monetary Fund (IMF).
The finance secretary said
the company had accumulated losses over Rs180 billion and, as part of a $6.64
billion IMF bailout package,
the government was also
required to privatise 26 per
cent shares of the company
by December this year.
However,
Privatisation
Secretary Amjad Ali Khan
said the report of the financial adviser would determine
if the privatisation could be
carried out in 2014 or would
be delayed for two years.
According to official documents presented to the IMF,
the government has hired
one financial adviser and will
hire two more by March to
offer minority shares in three
companies in domestic or international markets by the
end of June 2014 subject to
investor interest and global
market conditions.
Muslim woman convicted
for wearing veil
I
t is concerning that
the Prosecution had
in their possession significant material, which
they failed to appreciate.
Had the Prosecution investigated the allegations
against