Monday December 11, 2017
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US has given Pakistan $265 million to fight terror: US State Department report

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Photo: gbtimes.com

By NewsGram Staff-Writer

Islamabad: A report by the US State Department has revealed that the US has given $265 million to Pakistan during the current fiscal year. The money has been given under the Foreign Military Financing (FMF) for assisting Pakistan in its counter-terrorism and counter-insurgency activities.

The fund improves Pakistan’s ability to conduct counterinsurgency operations, particularly in Federally Administered Tribal Areas (FATA) and enhances the country’s ability to participate in maritime security operations and counter maritime piracy.

“Pakistan has cooperated with the US in counter-terrorism efforts and since 2001, has captured more than 600 Al-Qaeda members and their allies, and the US maintains a strong security partnership with Pakistan,” reports Dawn citing the report released by the US State Department.

The report comes as Prime Minister Nawaz Sharif is due to visit the US later this month, starting from Oct 21.

The report added that the US also gave Pakistan $5 million in the current fiscal year under the International Military Education and Training (IMET) assistance.

US is also Pakistan’s largest bilateral trading partner, according to the report.

During the current fiscal year, $18.72 billion was remitted back to Pakistan from overseas Pakistanis, of which 14.4 per cent was remitted back from the US.

Pakistan has taken steps over the years to liberalize its trade and investment regimes, either unilaterally or in the context of commitments made to the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank, said the report released by the state department.

Furthermore, major US investments are concentrated in fast-moving consumer goods, construction, chemicals, energy, transportation, and communications, stated the report.

In January 2015, the US pledged $250 million to help Pakistan facilitate the relief, reconstruction, and the return of FATA communities displaced by counter-terrorism operations.

(With inputs from IANS)

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US to begin Jerusalem Embassy move preparations: Tillerson

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Photo: wikimedia commons

Washington, Dec 7. US Secretary of State Rex Tillerson has stated that the State Department will “immediately” act on President Donald Trump’s order and start preparations to move the American embassy in Israel from Tel Aviv to Jerusalem.

Earlier on Wednesday, Trump announced in a televised speech that he officially recognises Jerusalem as the Israeli capital and instructed the State Department to relocate the US embassy to the city, reports Xinhua news agency. (Read: Trump to Announce US Recognition of Jerusalem as Israeli Capital, Move Embassy)

Tillerson, who is on a Europe visit, said in a statement on Wednesday night that the US has consulted with “many friends, partners and allies” about the relocation ahead of Trump’s decision.

Though hailed by Israel, Trump’s announcement immediately drew strong opposition and widespread criticism from Arab and European countries that such a move would inflame tensions and fuel violence in the Middle East.

Tillerson said that the US had taken measures to protect Americans in the region.

“The safety of Americans is the State Department’s highest priority, and in concert with other federal agencies, we’ve implemented robust security plans to protect the safety of Americans in affected regions.”

Trump’s announcement marked a dramatic departure from his predecessors’ foreign policy.

Although the US Congress passed the Jerusalem Embassy Act of 1995 which required the relocation of the embassy from Tel Aviv to Jerusalem, former Presidents, including George W. Bush, Bill Clinton and Barack Obama, consistently renewed a presidential waiver to delay the relocation out of consideration for national security interests.

The status of Jerusalem, revered by Muslims as the third holiest site in Islam and the holiest site by Jews, lies at the core of the dispute between Israel and the Palestinians.

The international community does not recognise Jerusalem as the capital of Israel and no foreign countries have their embassies in the city.(IANS)

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How Technology is Streamlining the US Lending Sector

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cash-lending

Today, people are more connected than any other time in history. Since people are constantly using computers and smartphones, most industries have adopted technologies that help in easier and faster service delivery to customers.

In the finance industry, the development of technology has transformed the landscape in the lending sector. In this article, you’ll learn more about how this industry has been affected by technology.

Technology creates better borrower experience

Basically, the lending process requires an exchange of some data between the borrower and the lending institution. Depending on the lender and the amount in question, you may be required to submit tens of pages of information before the application is approved.

As such, the process can be daunting given that you are expected to fill multiple forms as well as provide several documents.  Without patience and some free time, getting through the loan application with traditional banks is close to impossible.

However, when the lending process is digitized the amount of paperwork is reduced dramatically. This is because account activity, credit history, income history as well as tax compliance can be fed into the system with the click of a button. This has made the collection and verification of information quite easy. Besides streamlining the application process, the amount of time it takes to get a loan has also reduced.

In addition, some lenders have developed some innovative mobile solutions that enable customers to submit an application from anywhere. The most outstanding feature about mobile loans is that there is a constant interaction between the lender and the borrowers. This goes a long way in improving service delivery.

Increased transparency

In the past, borrowers had no access to a lender’s system that hold the borrower’s personal details as well as loan application status. This implies that most borrowers were in the dark for the most part of the lending process. When the need to communicate comes, the loan teams were the most potent option. This has been the reason why loan officers were getting hundreds of phone calls from clients who were dying to get the updates about the loans.

Courtesy of technology advancements, now it’s possible to view the status of your loan application as well as your account status with a lender. This helps borrowers to stay updated during the entire online installment loans process. In addition, you can get instant communication about any requests that a lender may have that is critical to the borrowing process.

As a result, there is a high collaboration between borrowers and lenders which makes the involved parties satisfied.

A less painful borrowing process

Traditionally, it takes an average of 18 days to get a loan approval. To get through the borrowing process, you need an extra 50 days if you are applying for a mortgage. But when you consider that it’s possible to purchase something from miles away at the comfort of your home and get it in a few hours, the long lending process seems like a bad joke.

To match the level of service delivery in this digital era, the financial sector has incorporated technology for a better experience. The innovative technology makes it possible for borrowers to navigate through the process thanks to great design and real-time customer support.

This makes it easy to switch from traditional lenders who implement outdated technology and business models. The comfort of knowing that you can get help from the lender in a matter of seconds has made the process painless.

It helps you save money

On average, a lender spends about $8,000 to finish one mortgage. This is because they have to pay employees to look into tons of information and collate in various databases. In a manual process, the tasks are repetitive and consume a lot of time. The tragedy here is that the borrower will cover these costs in the form of loan fees and charges.

But when innovative technology is used, much of the redundant tasks during the application process is scraped off. This means borrowing becomes cheaper for both lenders and borrowers. Besides the huge savings on cost, the process takes less time.

Over-reliance on human capital is eliminated and this implies there are fewer errors when gathering information. While this doesn’t conclude that technology has taken the place of experienced manpower, it helps create time and resources that are focused on other tasks with higher value.

Risks associated with technology in the lending sector

While technology has a way of making life more bearable, it comes with several risks. Basically, most of the information is transmitted online and this makes it easy for criminals to intercept the information. With data security being one of the biggest concerns in this industry, most companies are investing heavily in precautionary measures to keep their customers safe.

Therefore, if you are working with a reputable loan company that has implemented the necessary safety measures, you don’t need to worry. However, this doesn’t mean that you should submit a loan application to every online lender out there.

All lenders are not created equal and there are a few predatory businesses out there that can take advantage of vulnerable borrowers and charge astronomical interests. As such, you should restrain yourself from getting into an agreement with any lender who doesn’t have a track record of outstanding customer service and a demonstrated commitment to helping customers.

Finally, identity theft is real and can cause a serious problem if a criminal gets your personal information. Therefore, you should be careful when requesting loans through online platforms. As a rule of thumb, choose to work with businesses that have strict privacy policies as well as having the necessary security measures to prevent data theft.

Final words

Innovative technology has taken the financial industry by a storm and it has created a serious revolution in the industry. Unlike in the past, loans are now easily accessible to more people and the lending process is less painful.

Considering the current trends, it’s clear that more resources are going to be invested in this industry and create better technologies. While there is still much that needs to be done with regards to improving certain loans like mortgages, technology has transformed the sector.

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Pakistan : Law Minister forced to step down, Is the notorious Islamic nation on way to collapse?

With growing influence of Islamic extremists on one hand and separatist movements on other hand, it is really a tough road ahead for Pakistan. The den of terror is on way to collapse

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Islamic Terrorism
Supporters of the extremist Tehreek-e-Labaik party Pakistan (VOA)

After few weeks of ongoing drama Pakistan government on Monday made a deal with leaders of an extremist Islamist protest movement, agreeing that Pakistan law minister would step down from his position in return for an end to violent protests that had resulted in brutal clashes and immobilised the Pakistani capital since last few weeks. The law minister, Zahid Hamid, whom protesters had accused of blasphemy, resigned as part of negotiations overseen by Pakistan’s military. Law Minister Zahid Hamid had been accused by clerics of committing blasphemy due to a change in the wording of an oath taken by parliamentarians. The extremists, led by Rizvi, believed the change in wording as representing a softening of the state’s position against members of the Ahmadi sect, who are not permitted to identify themselves as Muslims in Pakistan. Like many times in past once again in Pakistan the government surrendered to the extremists. A dozen of people were killed and around 250 people were wounded in clashes between protestors and security forces.

“On the assurance of the Chief of Army Staff, we are calling off the sit-in,” Muslim extremist and protest leader Khadim Hussain Rizvi representing radical “Tehreek-e-Labaik” told a crowd of around 2,500 demonstrators in Islamabad on Monday.

Islamic Extremists
Supporters of the Tehreek-e-Labaik party (VOA)

This is not the first time when Islamic extremists have highjacked the government in Pakistan. Not a single Prime Minister in Pakistan has been allowed to complete his tenure since the country’s inception 70 years ago. The political situation in Pakistan has never been a swift ride ever since 1947, as four times democratic governments were thrown away by military dictators, one prime minister was killed while another one was hanged by judiciary, many were sent home by presidents and two were dismissed by the Supreme Court, the latest been Nawaz Sharif.

The recent developments have again proved that Pakistan’s democratically elected government has no authority, it is the islamic extremists who hold the jar of power dictating government what to do and what not to do. Few days back only, a judicial panel ordered the release of Islamic militant leader Hafiz Saeed who was the mastermind of deadly Mumbai terror attacks in 2008 from house arrest. Hafiz Saeed have a huge following and popularity in Pakistan, and was to take up leadership of a political party which he planned to start. The matter of concern is future of Pakistan with such terrorists penetrating in power corridors.

With growing extremism on one side, separatist movements are also growing in Pakistan. Baloch freedom movement is gaining pace and a large section of Pashtun population are also demanding an independent Pashtunistan. There are several similarities between the Pakistani Army committing hideous crimes in Bangladesh (what was then East Pakistan) and Balochistan & Pashtunistan. Mass killings, the rape of women, laying human habitations to waste, targeted assassinations – Bangladesh saw it all during its Liberation War of 1971. Balochistan and Pashtunistan continues to witness these horrors. Religious minorities are also often targeted including the Shia and Ahmadi muslim population.

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With growing Wahhabism on one hand and separatist movements on another hand its really a tough job for Pakistan’s government to keep the country intact. Pakistan should now understand that there is no good terrorism and bad terrorism. Pakistan should now understand that there is no good terrorism and bad terrorism. The snake you raise in your backyard is more likely to bite you before it bite your neighbour. Click To Tweet In such grave situations, civil society of Pakistan must ponder over the state of affairs and should reject terrorism against India, only then a progressive Pakistan can exist. A progressive and stable Pakistan is equally important for neighbouring countries.

–  by SHAURYA RITWIK, Shaurya is Sub-Editor at NewsGram and writes on Geo-politcs, Culture, Indology and Business. Twitter Handle – @shauryaritwik

2 responses to “Pakistan : Law Minister forced to step down, Is the notorious Islamic nation on way to collapse?”

  1. Good analysis, Pakistan must look within and stop religious extremists before they take control of whole nation.

  2. That is a very good and deep analysis. Pakistan is imploding from inside, religious extremist groups have the upper hand while ethnic suppression is igniting separatism. Ethnic Pashtun and Baluch nationalism should be empowered to put an end to the terror-producing machinery in Pakistan that means total collapse of Pakistani dysfunctional, apartheid and panjabi fascist failed state.