Pakistan oppn slams campaign for installing presidential system

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New Delhi, Jan 22 | Opposition lawmakers in Pakistan have sounded alarm over the ongoing chatter and calls for replacing the countrys parliamentary democratic system with a presidential system, demanding a debate on the matter in the National Assembly, Express Tribune reported.

The issue came up during a searing discussion when the opposition condemned what it termed “systematic and planned campaign”.

Speaking on the floor on Friday, PML-N lawmaker Ahsan Iqbal said the rumours about presidential form of system were a matter of serious concern, adding it was deplorable that even after the passage of 75 years since the country’s inception, there was still no consensus on the parliamentary democracy.

“We do not need any enemy if we are not even capable of reaching a decision on it,” the former planning minister said and wondered who was perpetuating the speculations.

“We will never allow anyone to impose any such system,” he emphasised.

Earlier on Wednesday, the members of the joint opposition submitted a resolution to the National Assembly Secretariat expressing the resolve to uphold and strengthen the federal parliamentary system in the country as provided in the 1973 Constitution of Pakistan.

Iqbal tweeted an image of the hand-written resolution signed by opposition members on his official social media account with the caption “let’s see if it comes on the assembly’s agenda on Friday or not”.

“When the government, imposed through rigged elections, has ruined the country, then whisperings of imposition of an Indira Gandhi-like emergency and change in the system through various formulas are being heard,” wrote Iqbal on his Twitter handle.

Addressing the floor, the PML-N Secretary recalled that presidential system in the past had fuelled grievances which subsequently led to division of the country.

He noted that the founding fathers of Pakistan had envisaged parliamentary democracy.

“The country was dismantled into two parts during General Yahya Khan’s rule. Shaikh Mujeeb had demanded the elimination of martial law from the country before the fall of Dhaka.”

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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