Imran Khan authorised force against TLP but Pak military opposed

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New Delhi, Nov 10 | The Pakistan military leadership had advised against the use of force against the Tehreek-i-Labbaik Pakistan (TLP) protesters after Prime Minister Imran Khan had authorised it, Dawn reported.

According to sources privy to the fast-paced developments taking place, the Pakistan prime minister had authorised the use of force against the TLP marchers. Once this authorisation was relayed, the Pakistan military leadership reviewed the operational dynamics and possible consequences of using force against the crowd. They calculated what it would entail to apply force against the marchers, and how many casualties could take place if the law enforcers were to use the last resort and open fire on those refusing to disperse. The leadership also factored into this calculation the probable blowback of casualties and its impact on public opinion.

According to sources, Army Chief General Qamar Javed Bajwa presented all the pros and cons of using force against TLP workers when the political and military leadership gathered to discuss the issue at the National Security Committee meeting that took place on October 29.

People who know the details of this meeting have confirmed to Dawn that the army chief said if the decision-makers were ready to pay the price for using force against the TLP, then the military would do as ordered. However, mention was made of the previous instances where the government had used force against citizens — Lal Masjid and the Model Town incident — and participants of the meeting were reminded of the consequences of both episodes.

By the time this meeting took place however, the government had already taken a tough line and Information Minister Fawad Chaudhry had quoted the prime minister as telling the cabinet on October 27 that the government would not allow anyone to take the law into their hands and challenge the writ of the state.

The military leadership, however, advised against the use of force arguing that it was not a solution. It was then decided to opt for a negotiated settlement in order to, as one source put it, ‘avoid bloodshed’. This is when Mufti Muneeb-ur-Rehman was identified as someone who could mediate an agreement given his standing as a senior Barelvi cleric.

After having taken the political leadership on board, the Pakistan government has in principle decided to make public the agreement it signed with the TLP but kept secret till its implementation was well under way.

Participants of the briefing told Dawn the senior military officials informed them about how the agreement came about and why it was decided to keep it secret for this long.

According to these officials, the primary objective was to get the TLP protesters off the streets so the situation could return to normal. In this context, there was a concern that unveiling the contents of the agreement at an early stage could have triggered a public debate that may have impeded its implementation that in turn was linked with the ending of the protest.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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