Latest news with #Ayub
New Straits Times
5 hours ago
- New Straits Times
NSRC's 24-hour upgrade will boost cybercrime response
KUALA LUMPUR: The government's move to expand the National Scam Response Centre (NSRC) into a 24-hour cybercrime response hub is a critical step in combating the country's growing digital threat landscape. Malaysia Crime Prevention Foundation (MCPF) senior vice-chairman Datuk Seri Ayub Yaakob said the decision is "timely and bold" as cybercrime today is no longer confined to online scams, but also includes threats such as identity theft, hacking, ransomware, fake investment schemes, and cyberbullying. "The expansion of the NSRC's mandate reflects a serious commitment to tackling these challenges head-on. "It's a step in the right direction – one that the public, law enforcement, and the private sector have long awaited," he told the New Straits Times. Ayub said one of the most significant improvements resulting from the move is better coordination among enforcement agencies. In the past, he said, scattered reporting mechanisms and siloed agency responses often delayed investigations and recovery efforts. "Now, with a 24-hour integrated network, agencies can act swiftly and share critical data in real time. "This kind of agility is exactly what's needed in cybercrime cases, where even a few hours can mean the difference between dismantling a syndicate or losing millions." He said the upgraded NSRC could play a vital role in reducing public losses and restoring trust in the system. "People need to know that when they report a cybercrime, action will be taken immediately. "This encourages victims to come forward without delay." However, he said infrastructure and inter-agency collaboration alone would not guarantee success, emphasising the need for greater public awareness and transparency. He urged the government to embark on an aggressive nationwide publicity campaign, leveraging both traditional and social media platforms. "It must be aired, viralled, and shared across all platforms – from television to TikTok – to reach every layer of society. "We must actively call for the public to take part, report incidents, and trust the system. Their involvement is not optional – it's essential." Ayub said MCPF, which works closely with the Home Ministry and police, would continue supporting government efforts through community outreach, education programmes, and collaboration with financial institutions. He also called for regular updates to cyber laws and closer cooperation with international enforcement agencies, as many scam syndicates operate across borders. "The digital world moves fast, and our legal frameworks must keep up. We also need international partnerships to trace and dismantle these syndicates beyond our borders." Prime Minister Datuk Seri Anwar Ibrahim yesterday announced that the NSRC would operate around the clock and broaden its scope to address various types of cybercrime, with the involvement of key agencies including the police, Bank Negara Malaysia, the Malaysian Communications and Multimedia Commission (MCMC), and the National Anti-Financial Crime Centre (NFCC).
Business Recorder
8 hours ago
- Business
- Business Recorder
PTI says budget will enrich elite at the cost of masses in Pakistan
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Friday launched a scathing attack on the recently passed Federal Budget for 2025-26, denouncing it as a 'banker's blueprint' crafted to enrich the elite at the expense of the masses. Speaking at a presser, the opposition leader in National Assembly Omar Ayub, flanked by Asad Qaiser, Gohar Ali Khan, and other senior party leaders, condemned the budget as a 'giveaway written by a banker, for his banker buddies'. 'This is not a people's budget; it's a banker's business plan,' Ayub said. 'The hybrid regime plans to borrow another Rs6,300 billion from local banks, allowing four or five bank owners to graduate from billionaires to trillionaires. Meanwhile, the nation sinks deeper into debt.' Ayub accused the government of both fiscal cruelty and political repression, warning that the prices of essential commodities such as flour, sugar, and lentils would soar under the new fiscal measures. 'They couldn't even face the opposition in Parliament. Both the finance minister and the prime minister evaded accountability.' Moreover, Ayub claimed that former MNA Ijaz Chaudhry was abducted in the dead of night, while former Prime Minister Imran Khan and his wife Bushra Bibi remain in jail as hostages of political vendetta. He said several senior PTI leaders including Shah Mehmood Qureshi, Omar Cheema, Hassaan Niazi, and Yasmin Rashid and others were imprisoned without bail. However, Asad Qaiser accused the government of reducing Parliament to a rubber stamp. MNA Sanaullah Mastikhel criticising the powerful energy lobbies, alleged that Independent Power Producers (IPPs) were 'untouchable profiteers' who have plundered the nation for decades under successive governments. 'These IPPs have become a cartel, bleeding the country dry through inflated capacity payments and ironclad contracts. They get paid whether they produce electricity or not while the average Pakistani is left in the dark, both literally and financially.' Masti accused the government of shielding these corporate giants while the public suffers from rolling blackouts and sky-high electricity bills. 'Every time the people tighten their belts, these energy barons loosen theirs. And now, with this budget, the same crooks are getting even more incentives. It is daylight robbery, institutionalised.' He demanded an open audit of all IPP contracts and called for a complete overhaul of the power sector. Copyright Business Recorder, 2025
Business Recorder
13 hours ago
- Business
- Business Recorder
PTI says budget will enrich elite at the cost of masses
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Friday launched a scathing attack on the recently passed Federal Budget for 2025-26, denouncing it as a 'banker's blueprint' crafted to enrich the elite at the expense of the masses. Speaking at a presser, the opposition leader in National Assembly Omar Ayub, flanked by Asad Qaiser, Gohar Ali Khan, and other senior party leaders, condemned the budget as a 'giveaway written by a banker, for his banker buddies'. 'This is not a people's budget; it's a banker's business plan,' Ayub said. 'The hybrid regime plans to borrow another Rs6,300 billion from local banks, allowing four or five bank owners to graduate from billionaires to trillionaires. Meanwhile, the nation sinks deeper into debt.' Ayub accused the government of both fiscal cruelty and political repression, warning that the prices of essential commodities such as flour, sugar, and lentils would soar under the new fiscal measures. 'They couldn't even face the opposition in Parliament. Both the finance minister and the prime minister evaded accountability.' Moreover, Ayub claimed that former MNA Ijaz Chaudhry was abducted in the dead of night, while former Prime Minister Imran Khan and his wife Bushra Bibi remain in jail as hostages of political vendetta. He said several senior PTI leaders including Shah Mehmood Qureshi, Omar Cheema, Hassaan Niazi, and Yasmin Rashid and others were imprisoned without bail. However, Asad Qaiser accused the government of reducing Parliament to a rubber stamp. MNA Sanaullah Mastikhel criticising the powerful energy lobbies, alleged that Independent Power Producers (IPPs) were 'untouchable profiteers' who have plundered the nation for decades under successive governments. 'These IPPs have become a cartel, bleeding the country dry through inflated capacity payments and ironclad contracts. They get paid whether they produce electricity or not while the average Pakistani is left in the dark, both literally and financially.' Masti accused the government of shielding these corporate giants while the public suffers from rolling blackouts and sky-high electricity bills. 'Every time the people tighten their belts, these energy barons loosen theirs. And now, with this budget, the same crooks are getting even more incentives. It is daylight robbery, institutionalised.' He demanded an open audit of all IPP contracts and called for a complete overhaul of the power sector. Copyright Business Recorder, 2025
Canada News.Net
5 days ago
- Business
- Canada News.Net
Pakistan manipulates economic data to mislead international community amid economic collapse
Islamabad [Pakistan], June 21 (ANI): Pakistan Tehreek-i-Insaf (PTI) on Friday rejected data released by the Pakistan Bureau of Statistics (PBS), accusing the government of misleading international financial institutions with 'absurd' economic figures, according to a report by Dawn. Leader of the Opposition in the National Assembly, Omar Ayub Khan, criticised the government's reliance on outdated and unreliable data, warning that it was obstructing evidence-based policymaking. His comments came during a Ministry of Commerce briefing on tariff matters, where opposition members challenged the credibility of official statistics. Highlighting what he described as 'glaring inconsistencies,' Ayub pointed out, 'When the Pakistan Bureau of Statistics reports an increase in donkey populations but no rise in mules, it exposes the absurdity of the data shaping national economic policies.' He noted that 64 per cent of agricultural data comprises livestock figures, which he said distorts sectoral analysis and leads to misguided policy decisions. Ayub likened the economic progress to 'driving at 20 km/h on a motorway,' stressing that Pakistan's growth is being stifled by obsolete data, while competing countries advance with real-time analytics. He further claimed officials privately acknowledged that tariff systems functioned more efficiently under the PTI government, indirectly admitting regression in current policy management. Demanding immediate reforms, Ayub called for modern data collection methods, independent audits, and stakeholder consultations to align tariffs with industrial needs. To address systemic flaws, he proposed digitising PBS using AI-driven analytics, creating open-data platforms, and involving exporters and manufacturers in tariff discussions. PTI pointed to growing business frustrations over 'arbitrary trade policies and stagnant exports,' citing the World Bank's emphasis on accurate data as vital for attracting foreign investment. 'A 21st-century economy cannot run on 20th-century statistics,' Ayub said, urging the government to prioritise transparency and efficiency for economic revival, as reported by Dawn. Separately, PTI leaders expressed solidarity with Iran amid its conflict with Israel, visiting the Iranian Embassy in Islamabad and condemning Israel's actions. Omar Ayub warned that prolonged conflict could severely impact global oil supplies. (ANI)
Express Tribune
21-06-2025
- Business
- Express Tribune
Steel sector warns of collapse
Listen to article Pakistan's steel sector may become the first casualty of the government's decision to open the economy to foreign competition, as a parliamentary review finds flaws in the assumptions behind cutting protection levels by 52%. Abbas Akber Ali, patron-in-chief of the Pakistan Association of Large Steel Producers (PALSP), warned on Friday that the proposed tariff reduction would push Pakistan toward trading in imported steel instead of manufacturing it locally. If implemented, the new National Tariff Policy would shut down local mills, leading to $1 billion in annual steel imports and risking around 2 million jobs, he said. PALSP Chairman Javed Iqbal Malik stated that the current protection level of 53% for the steel sector would fall to 10% by the policy's fifth yearfar below the 38% minimum needed. Malik said the association met with Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries, who acknowledged their concerns but said he was powerless to help. He added that the PM's steering committee on industry concerns also refused to meet the industry. Under the new policy, the average applied tariff rate will fall from 20.2% to 9.7% over five years, a 52% drop, Commerce Secretary Jawad Paul told the National Assembly Standing Committee on Finance this week. In FY26, tariffs will fall to 15.7%, a 22.3% cut in the protection wall. This will include reducing customs duty to 11.2%, additional customs duty to 1.8%, and regulatory duty to 2.7%. The government said reforms are based on the World Bank's Global Trade Analysis Project (GTAP) model. The Standing Committee had asked World Bank and commerce ministry officials to brief Opposition Leader Omar Ayub Khan. Ayub and other members met with the experts on Friday in the Parliament House and later shared their observations with the committee. Ayub told the committee that the GTAP model was static, had limitations, and was based on trading in only a few tariff lines. He also criticised the use of Pakistan Bureau of Statistics data, calling it unreliable, and noted the model ignored several key variables. Committee Chairman Syed Naveed Qamar asked Ayub to submit his observations in writing to the committee. The GTAP model projects exports to grow by 10-14% and imports by 5-6%. Over five years, it anticipates trade liberalisation to reduce the trade deficit by only 7%. Abbas Ali urged the government to delay tariff rationalisation for at least one year or until the industry stabilises. The association said the proposed policy could cripple domestic steel production, trigger a $4 billion foreign exchange outflow, worsen the import bill, and deepen the current account deficit. With steel mill closures, 4,000 megawatts of electricity used by the industry would go idle, and 2 million jobs are at risk, Abbas said. According to the association, the perception that the current tariffs protect the industry is inaccurate - only offsets cost differences caused by state-regulated input prices, especially energy. "We can compete globally if electricity costs Rs20 per unit instead of the current Rs40," Abbas said, adding that high electricity rates raise local steel production costs by Rs50,552 per tonne. Abbas said the industry does not seek protection having invested over Rs100 billion in modern European technologies and is regionally and internationally competitive. Tariff reductions would allow semi- and fully-finished products to flood the market, raising the import bill by at least $1 billion, the association said. Javed Malik stated that tariff cuts should be delayed until power, taxes, and interest rates become regionally competitive. He noted that India, the world's second-largest steel producer, has increased protection for its steel sector. Bangladesh offers 90% protection, while Pakistan's protection level is half of this at just 43-57%. Malik said Bangladesh imposes minimal sales tax per ton, while Pakistan charges Rs38,000, and pointed out that Bangladesh's largest mill has a capacity of 2.4 million tonnes, while Pakistan's largest 1.1 million-tonne mill is shut down. Abbas said the government should have first introduced reforms with incentives for iron ore extraction alongside tariff cuts. This would increase raw material supply, reduce costs, improve quality, and enhance global competitiveness. He added that Pakistan's steel production is just 6 million tonnes, compared to Iran's 35 million, India's 100 million, and China's 900 million tonnes. India, China, Russia, and Iran all have state-owned iron ore mining companies supplying to private sectors, giving local manufacturers access to cheaper materials — about $30 per tonne.
