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Instability in global economy makes Pakistan vulnerable: Daily

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By NewsGram Staff Writer

Islamabad: A leading Pakistan daily said that the sharp swings on the stock market along with pressure on rupee is a reminder that Pakistan is still vulnerable to instability in the global economy, and added that “it is best to be prepared.”

dawn_9830101313831216671An editorial “Financial market gyrations” published in the Dawn on Wednesday said that for the past one year at least, a series of economic crisis have been roiling the global economy to which “we in Pakistan have been little more than spectators.”

“But this week, the sharp volatilities could return very quickly since the crisis in the international markets is far from over.” The editorial said that the exchange rate on the other hand is continuing to feel the stress.

As per the editorial, as a first step, the government should allow the rupee to find its own value. “Investing too much importance in a strong currency is far too old-fashioned a way to view the exchange rate.”

It went on to say that the last “such bail-out following 2008 had to be hastily arranged and was of doubtful merit.”

“It would be better this time, if recourse to public funds should become necessary to prevent systemic risk, for strong guidelines to be in place for transparency as well as to ensure that the funds are not appropriated by the big brokers,” the daily said.

economy

The editorial noted that the sharp volatilities roiling the global markets are escalating and “it would be a grave mistake to seek solace in the notion that Pakistan will remain insulated from these developments”.

“Nobody knows where the volatility will end, and nobody expects that the government can do much to keep it from impacting the country. But a few preparatory steps can go a long way to ensure that the government works to safeguard the public interest should matters deteriorate, rather than have its actions dictated to it in the thick of the crisis by a small cabal of brokers,” it added.

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Mother Convicted of Forcing Daughter to Marry

A British court has convicted a mother of forcing her daughter to marry a relative almost twice her age in Pakistan, in a first successful prosecution of its type in England.

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A union flag is flown at half mast in Westminster after an attack on London Bridge and Borough Market left 7 people dead and dozens injured in London, Britain, June 4, 2017. REUTERS/Kevin Coombs

A British court has convicted a mother of forcing her daughter to marry a relative almost twice her age in Pakistan, in a first successful prosecution of its type in England.

A jury at Birmingham Crown Court on Tuesday convicted the mother of four of duping her then 17-year-old daughter into travelling to Pakistan on the pretext of a family holiday in 2016 and forcing her to marry there, the BBC reported.

The mother was found guilty of two counts of forced marriage and was scheduled to be sentenced.

The court heard the girl had been entered into a “marriage contract” with the man years before in Pakistan and became pregnant at 13. The victim had an abortion on returning to the UK, with her doctor reporting his concerns to social services.

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Prosecutors said the girl’s mother told them that her daughter and the man were just “two teenagers who had sneakily had sex” after she was referred, the BBC said.

The girl was tricked into travelling to Pakistan again in September 2016 and was forced by her mother to sign marriage papers.

When the daughter protested against the marriage, her mother threatened to burn her passport and assaulted her.

The mother was also convicted of perjury after she lied about the incident in the High Court.

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It is the first time a forced marriage case of this kind has been successfully prosecuted in an English court. Prosecutions for forced marriage, which became an offense in 2014, are rare. (IANS)

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