Slumdog and Indian businesses

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Was reading this very interesting Report from First Global on India's economic crisis. The author, Le Grand Fromage, talks about how once a rags-to-riches occurs, the person who makes that journey cannot adjust back to the "rags" situation - something that happened to the young Azhar (young Jamaal in "Slumdog Millionaire") - who is from a slum but got all the attention from the Oscars and went all the way to LA for Oscars and came back to his slum dwelling and couldn't sleep because of mosquitoes!

Well, I have attached the report - which is a good read overall. But this is one bit of information that really shocked me (have put the most important part in bold).

“Exposure to real estate alone was 175% of Net Worth for ICICI Bank, 180% for Axis
Bank and 88% for HDFC Bank…and this was after the serial fund-raisings by all of them..…plus
there was significant exposure to other cyclicals like steel, textiles, et al. Unsecured loans were
(and probably still are) are between 112-165% of tangible networth. Total Sensitive Sector
exposure + Unsecured lending, of these banks is: 305% of Tangible Net Worth for ICICI Bank;
Axis Bank has the same ratio at 316% of Tangible Net Worth; and HDFC Bank, 292% of
Tangible Net Worth. Sensitive Sectors are Real Estate and related sectors + Capital Markets”.... read more

Cost of non-cooperation in South Asian Association for Regional Cooperation

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SAARC is the body with the full form - South Asian Association for Regional Cooperation. But the body is anything but about cooperation. Cooperation cannot be brought about by formal bodies but bringing together hearts. Some wonder why the nations are not cooperating. Its a good question, but does the hurt of "My land for my God at all costs" inflicted on others ever go away? Is 60 years enough for that? What have we done to get away from that madness? The answer is very little.

Anyways, the Secretary General now says that "nations in the region miss business opportunities worth $8 billion a year due to non-cooperation and could double the amount of investments they attract by checking corruption."

Personally I feel, for India, there is a great opportunity in reducing corruption. But it cant be wished away. It will require change in attitudes and thinking. That has been the bane of many a generation for all these years in India... and a question that has stumped many intellectuals and thinkers.

... read more

Britney Spears converting to Islam and moving to Pakistan

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Britney Spears may be converting to Islam and moving to Pakistan. All the best to her! She is going around with Adnan Ghalib, who runs after such "prize catches" and works with a photo agency! His parents - Ghalib and Saghra - have disowned him due to his run in with the Spears bombshell.

It is something about the Pakistani men that attracts women of other nations. I know of Indian women - who went in with a relationship with some Pakistani men.. and the Western women - specially of the high society. Hasnat Khan has come out now talking of his affair with Diana.

Then there was Imran Khan and Jemima Khan.

But some Pakistani women are left wondering, as to what is it that these Western women find so appealing about their men, since they seem so chauvinistic from close quarters.

Shahida Haq, another homemaker, wondered what is it about Pakistani men that make them so "special" to Western women.... read more

Voices from Pakistan on Benazir's Death

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Pakistan is in serious turmoil! A blogger friend - Rubab Saleem, who runs "Pak Times" has compiled reactions from Pakistanis from different walks of life on her blog. Drishtikone is grateful that she is sharing the article with our readers.

AMBER KHAN, LAHORE

The personality and the politics of Benazir Bhutto evoked various responses from various people. There are very few people who were so contradictory in their personality and popularity; she was revered as a politician nationally and internationally yet many didn't approve of her political strategies and gimmicks; she was often considered a leader with a vision and a symbol of democracy yet her government was twice suspended on corruption charges; she was a western-educated, modern woman living a luxurious lifestyle but her home town of Larkana was strewn with poverty. The contradiction list may go on and on. But the truth lies beyond the obvious. Her absence clearly has left a vacuum that can NEVER be filled. With the demise of BB and the legacy of Zulfiqar Ali Bhutto in the form of his beloved daughter gone, Pakistani politics will never be the same again.

In her life, many accused her of further dividing the already tattering political and social fabric of Pakistan but her death has revealed that she was the only epicenter around whom the divisive Pakistani voters could agree to rally. Her self imposed exile had matured her into a seasoned politician who had become a ray of hope for the oppressed majority of our country. She wanted to conquer not just Sindh but the entire federation of Pakistan. The positivity of BB's politics was that she had firmed her party's roots amongst the poor and the lower middle class of our country. PPP's followers were and still are one of the most ardent and die-hard supporters of true political principles symbolizing democratic values, rule of law and an open, progressive society.... read more

Hallucinations and Controversies may be the undoing of Pakistan; not the Violence!

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That the country has many people in power with vested and twisted interests is bad enough.. but when the educated people start thinking and believing in nonsensical scenarios that are make-believe - it becomes truly scary! This interview with a software engineer from Lahore - Hamid, Pakistan is one such example.

This guy believes in the following:

1. Islamic fighters are Mujaheedins and are now - used by the Pakistani agencies - killing its own people.... read more

Benazir: The last pics

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This was her last picture. Seconds before she was assassinated. The park was where Pakistan's first prime minister Liaquat Ali Khan was assassinated in October 1951. This was Bhutto's first election rally in Rawalpindi after her return

And this is the last cup of tea she had before being assassinated.

... read more

A Primer on Benazir Bhutto

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Who was Benazir Bhutto?

Bhutto was the first woman elected to lead a Muslim state, twice elected Prime Minister of Pakistan. She was sworn in for the first time in 1988 but removed from office 20 months later under orders of then-president Ghulam Ishaq Khan on grounds of alleged corruption. In 1993 Bhutto was re-elected but was again removed in 1996 on similar charges, this time by President Farooq Leghari.... read more

Billions in Aid to Pakistan was diverted against India: US Officials

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There are reasons why I call the American administrations dealing with Pakistan blind. Indians knew the reality behind the "alliance" between US and Pakistan when Pakistan got into it! We all knew that the money - in billions - that they were going to get would end up in weapons that would be aimed at us. For, to fight with Al Qaeda, Pakistan did NOT need any weapons. They just needed to "tighten" those idiots. Pakistan's top brass had their main organization in their hands firmly and tightly! And this is a verity that no one can argue with me on! IN fact, Musharraf had made this claim unabashedly from a Chinese Hotel to his Lieutenant at the height of the Kargil War.

Now, the US Administrations acknowledge that the money given to Pak, in fact has made its way to fighting India as opposed to fighting Al Qaeda! As if the Americans will learn....

In interviews in Islamabad and Washington, Bush administration and military officials said they believed that much of the American money was not making its way to frontline Pakistani units. Money has been diverted to help finance weapons systems designed to counter India, not Al Qaeda or the Taliban, the officials said, adding that the United States has paid tens of millions of dollars in inflated Pakistani reimbursement claims for fuel, ammunition and other costs.... read more

Increasing Alcohol consumption amongst Muslims in Pakistan - specially youth!

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This is a rather intriguing news byte that I came across. The incidence in the consumption of liquor amongst Muslim men, women and children in Pakistan is very high - higher than the other communities. Specifically interesting is that more and more youth and women are consuming increasing quantities of alcohol! In an Islamic nation this is indeed an amazing statistic! These numbers are reflective of urban population. Which in some ways shows how removed the Urban population is from the ultra-Islamic posturing of the mullahs and Islamic parties. Yet, they do accept them tacitly in the jingoism.

On the other hand, is this reflective of the high change and churn/tensions in the society coupled with increased prosperity for some? The stock exchange has done well in the last few years in Pakistan and I am sure many have made enough fortunes.

Through data collected over five years, Waseem Haider, a surgeon at the Medico-Legal Punjab office in Lahore, found that addiction to alcohol is far higher among Muslim men and women in urban areas than members of the Christian, Hindu and other minority communities.

Of the 1,560 intoxication cases detected by police and reported to the medico-legal office in the past five years, Muslims accounted for 92.89 per cent while people from other religions comprise 7.11 per cent, said a report in The Nation newspaper on M.

Nearly two per cent of the reported cases were of women. However, only 15 per cent of the alcoholics showed up for treatment at the medico-legal office.... read more

Nurturing the Extremist Monster

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Just found this article on TOI site by Swami Aiyar. It explains the genesis, life and end of Khalistan mess very well and paints parallels with the situation in Pakistan. I agree with him completely! Whenever anyone has raised monsters, you ultimately get eaten up by it. Indira Gandhi, Rajiv Gandhi, Sant Longoval, and now, maybe its the turn of Musharraf. The similarities are striking.

For decades, the Pakistani Army and politicians nurtured Islamic militants, to use them as a tool in Kashmir and Afghanistan. But now, a la Frankenstein, the monster has turned against his creator.

This parallels India's own experience. Jarnail Singh Bhindranwale, the Sikh militant, went from strength to strength in the 1980s because both Indira Gandhi and Sant Longowal of the Akali Dal wooed him. Indira backed him against the official Akali candidate in a minor election. Longowal used him to polarise politics along religious lines, hoping to ensure Akali political dominance in Sikh-majority Punjab. Indeed, Longowal let Bhindranwale occupy the Golden Temple and launch a reign of terror from there.

Ultimately Indira sent in the Army to kill Bhindranwale. But militancy in Punjab continued, and she herself was killed by Sikh militants. So too was Longowal. Both paid for nurturing monsters.... read more

Pak wants to "retaliate" - against whom and why?

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It seems Pakistan has given a "general warning" - that it possesses retaliatory capacity to defend its strategic assets. The big unanswered question: Retaliate against whom and with what?

Its the same pattern all over again!

Story Link -

Bhutto's Security was in hands of Osama and Taliban's Handling officer!

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How tough it is in Pakistan is not for ordinary observer to understand and appreciate. The incident at Benazir Bhutto's return where almost 140 people got killed is a reminder of the mess that is in Pakistan. Here is the scenario:

Omar Sheikh was used by the then ISI chief to send USD 100k to Mohammad Atta. Daniel Pearl was in Pakistan investigating a lot of things - including this probably. He was killed by Omar Sheikh and company. On the other hand Ejaz Shah was the handling officer for Mulah Omar and Osama Bin Laden from ISI. Omar Sheikh gave himself in to Ejaz Shah - when according to the world... Paki Army / Police had arrested Omar Sheikh! Now, here is the rub... when Benazir Bhutto returns back home.... who is charge of her security? Ejaz Shah!!

And people were surprised that there were blasts? Its a miracle she wasn't killed! So, Shah for once has failed in his "mission"! He serves Musharraf "despite" his jehadi roots dearly! So, that should tell one of the leanings - intrinsically at least - of Musharraf! The next few months would be interesting in Pakistan. I expect a turmoil of gigantic proportions!... read more

Was this an attempt on Musharraf's life?

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Assassinations using the aircrafts are a favorite ploy in the sub-continent! When Sanjay Gandhi was killed it was a plane. When Zia-ul-Haq was killed it was a plane. When Madhav Rao Scindia was killed it was a plane. Now, Musharraf was about to say good bye to his life. But was saved by a hair's breadth perhaps! He probably took a different helicopter than he was supposed to.

Musharraf is a survivor is anything! He can turn any odds against him from the way he has shaped up over the years. Something inside me says that one day we may see him as the "Most Wanted" in US foreign affair circles. He will be where Osama and Saddam were yesterday and today.... read more

Presenting.... a Pakistani Army officer as a suicide bomber!

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Pakistan's situation worries me. I am amazed it worries not many people around the globe. Until now, they exported terrorism unabashedly. Then terrorism started hurting them itself! But until now, however much fundamentalist the Pakistani Army was they would use the poor and brain-washed as cannon-fodder. Now an incident has come to light where an Army officer himself became a suicide bomber!

According to reliable sources in the local police, a Pashtun army officer belonging to the elite Special Services Group, whose younger sister was reportedly among the 300 girls killed during the Pakistan Army's commando raid on the Lal Masjid in Islamabad between July 10 and 13, blew himself up during dinner at the SSG's headquarters mess at Tarbela Ghazi, 100 km south of Islamabad, on the night of September 13, killing 19 other officers.

The incident coincided with United States Deputy Secretary of State John Negroponte's visit to Kabul and Islamabad for talks with leaders and officials of the two governments.... read more

Another Mohammad cartoon Issue

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There is another Mohammad "cartoon" scandal and issue. This time the cartoon appeared in a newspaper in Bangladesh - Daily Prothom Alo. Thanks to Rezwan for the blog post on this one.

The cartoon says the following:

* Boy, what is your name?
- My name is Babu.
* It is customary to mention Muhammad before the name

* What is your father's name?
- Muhammad Abu

* What's this in your lap?
- Muhammad cat... read more

India opens Siachen for trekkers

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In an interesting development, India has opened up the Siachen Glacier to trekking for enthusiasts who would like to experience the dizzy heights and the cold of that place. Now, that this place has ceasefire enforced.... Pakistani army will be further pressurized to not do anything when tourists - specially the Westerners - are coming over. It is no secret that Musharraf coveted this area and his Kargil attempt was an answer to India's Siachen.

... read more

Islamists bomb Girl Schools in Pakistan.

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Again.. this time the Islamic radicals are not only content with saying girl education is unIslamic.... they are actually moving on to BOMB the schools as well in Pakistan!! That should help their man-hood a bit.. wouldn't it?

In what appears to be an escalating spree over the last year, extremists have bombed at least four girls' schools and circulated violent threats warning girls to stay at home. While no girls or school staff have been killed, girls in some areas have stopped attending classes - marking a direct blow to Pakistan's national enterprise of "enlightened moderation," which posits female education as a central pillar.... read more

The Political Nightmare in Pakistan!

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Pakistan is in a turmoil. Whether you know it or not.. realize it or not. It is. The options aren't great at all. Currently Musharraf has succeeded in alienating the same folks who raved about him through thorough mismanagament. Now, slowly but steadily (and to the discomfort of the US) Taliban is back and Al Qaeda is strong... so Pakistani army really has done nothing to help in that area!

Moreover, Mushy may be overthrown by religious zealots - something that Lal Masjid episode amply showed! So, there is pressure on him to bring back "Democracy" in a hurry.. something that Mushy never wanted! Hmm look at the scenario:... read more

How Partition affected the Sub-continent's Music soul!

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Some letters in the Pakistani daily Dawn are sometimes very interesting. Here is another one.. where this guys juxtaposes the melodies born out of the melting pot of Bengal, UP and Punjab.. against the "two nation theory" and partition. How partition took away - ruthlessly - the soul and the many wonders out of what has been great music and what could have been even greater!! Here is the letter:

I have been reading Ayaz Amir’s column every Friday, ‘religiously’. It is never complete without mention of General Musharraf. Perhaps the one and only Friday column, when the general was not mentioned, was when he wrote about Saigal and Muhammad Rafee and the Old Songs broadcast from the erstwhile Radio Ceylon (now Sri Lanka Broadcasting Service). This is what music can do. It makes you forget all grudges and regrets.

Ayaz Amir while eulogising these greats did mention perhaps unwittingly that they belonged to Punjab: “the land of the five rivers”, he said. This, of course, is true but music and art transcend all borders: provincial and ethnic. What would Saigal be without the tutelage of Punkaj Malik, a Bengali, or Rafee without the start he got in the film ‘Jugnu’ with his duet in the company of a reluctant Noor Jehan:... read more

AQ Khan is the next Pakistan "President" - "defeats" Musharraf!

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This is the scenario that most in India are worried about!

Abdul Qader Khan, the detained scientist who pioneered Pakistan's nuclear weapons programme, was "elected" the country's president, defeating the incumbent, Pervez Musharraf, in a mock poll held by lawyers.

Musharraf received only one vote and Khan, whom he has placed under detention since January 2004, got 2,103 votes in the "presidential referendum" organised by the Save Judiciary Committee of the Lahore High Court Bar Association (LHCBA).... read more

Pakistan is the King of Fake Currency!

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Remember the racket in fake currency run in India sponsored by the "friendly neighborhood" ISI (Pak Intelligence agency)?? (Headlinesindia . Yahoo)

Well.. you know all that is correct and you are truly in Pakistan when the ATMs of even the top banks start giving away fake local currency (Pakistani Rupee) to its own customers!!! THAT is the height of corruption and proof enough of the complicity of that countries top folks in this world-wide racket!... read more

Iran is Afghanistan's friend and US' enemy in an Upside down War!

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Iran is a friend of Afghanistan against Taliban/Al Qaeda and an enemy of US in a war against Al Qaeda. Go figure!

These two lines explain why US is in such a mess and why this mess would not stop!

The Bush administration considers Iran to be a dangerous influence on its neighbors. But Hamid Karzai, president of Afghanistan, regards Iran as a helper.

Ok, here goes: Iran is Shia. Pakistan, Al Qaeda, most Jihadis are Sunnis. They are classic enemies. PERIOD! There is no way in hell that Iran can help Al Qaeda. If Al Qaeda did the 9-11, then Iran and NOT Pakistan should have been the War ally for US! As for Pakistan, their Army and Intelligence has too much invested in the Jihadi movement to let it all go. Despite the fact that the same frankenstein monster has turned on itself (Lal Masjid). Taliban is Pakistan's greatest friend. Taliban's worst enemy in Afghanistan was Northern Alliance - SHIAS! Who helped Northern Alliance against Taliban? Iran! So, who is Karzai's friend against Taliban? Yeah.. easy right? IRAN! What about Pakistan? Hmmm.. if you have a modicum of smarts you would have figured that one out!... read more

Pakistan Army or Group of Mercenaries?

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I never had any doubt that the Pakistani Army was highly unprofessional. But this assertion from a top US diplomat in South Asia regarding the payments being made to the Pak Army and "RENTING" it for US purposes makes the Pakistani Army look more like a group of Mercenaries as opposed to a National fighting group.

The United States is paying around $ 100 million a month for the deployment of 80,000 Pakistani troops on its border with Afghanistan ostensibly for the war on terrorism, a key US official revealed on Thursday.... read more

Long term Implications of Lal Masjid Siege in Pakistan

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Like I discussed on my blog this week that things in Pakistan are not looking too great as the Lal Masjid students had fought with the Pakistani Army right there in the capital itself.

Now the things are getting worse. Yesterday, as Musharraf took off in a plane from a Military base, his plane was shot at! This was another attempt at his murder.

"It was an unsuccessful effort by miscreants to target the president's plane," a senior security official told The Associated Press on condition of anonymity because he is not authorized to speak on the record. "They fled quickly, and our security agencies are still investigating."... read more

Rebellion in Pakistan

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This is a watershed event in Pakistan. A lot has happened in that country... but this is the first time that its capital has seen such indigenous fighting at such a scale! Here is the report from Pakistan's leading national daily - Dawn. I think the picture on the right really tells it all. Look at the sophisticated armoury that this "student" is equipped with while IN THE CAPITAL!

It reminds me of this quote (i think from Abraham Lincoln) - "What is Morally wrong cannot be politically correct!" What Pakistan's establishment has been upto for last 3 decades had to catch up with it. It finally did.

Paramilitary Rangers and riot police fought a daylong running gunbattle with hundreds of heavily armed and well-entrenched militants around their stronghold of Lal Masjid as a six-month-long standoff between mosque’s radicals and the authorities exploded into a major clash on Tuesday, leaving at least 10 people dead and more than 150 injured.

Dozens of the injured suffered multiple bullet wounds, and the condition of some of them being critical, doctors feared the death toll might rise.

It was perhaps the worst, and the bloodiest, incident in Islamabad’s history as never before such a large number of armed militants had taken on the authorities — and that too in the heart of the capital.... read more

Hate mail on Editorial pages of Pakistani Daily.

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You would hope that a nation's national daily would have some intelligent stuff on the editorial page - like the "Letters to Editor" section. I was amused and surprised when I saw this letter in "The Nation", one of Pakistan's national daily. I have been reading Pakistani newspapers for lot of years but even I was taken aback.

Read it carefully.. the guy just makes some statements.. and that's it! No conclusion.. no rationale. Even if I take his statements to be 100% correct... the question you have is.. and sooo? Unless the editor has opened up this daily for an Open Source Jehadi media outlet.. I dont see how this letter could be published? It is just plain hate mail!... read more

Terrible Scenarios in Pakistan that could become reality!

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In this very interesting analysis, Col. Athale now talks about the scenarios that can unfold pretty soon given the tense situation in Pakistan. With Musharraf in jeopardy, Osama still at large, and religionists still pushing... chips could fall in any direction! So, the scenarios can include total anarchy to terrorist attacks by jehadis in India to a low intensity Nuke attack by a rogue Pak battalion. Which of these several scenarios unfolds is dependent on two things:

• What is the mood in Punjab?
• What is Musharraf's popularity amongst the soldiers?

What I found interesting was that India is the only major country still allowing Pakistanis to enter! Most countries have either banned their entry or make it so difficult and humiliating that it is probably not worth it! In fact Saudi Arabia does not even allow the Pakistanis to go for Haj if they are below a certain age!... read more

Woolmer Death: Was he murdered or not!

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So, the Jamaican police says that Woolmer died of natural causes.. and was not murdered:

Former Pakistan cricket coach Bob Woolmer [Images] died of natural causes, and was not murdered as initially suspected, Jamaican police said on Tuesday, bringing to an embarrassing close a three-month investigation that had gripped the cricket world.... read more

Pakistani "Peacekeepers" were selling Arms for Gold in Congo!!

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Two things: First, it is not just the Pakistani "peacekeepers" who got the Gold, even the Western "peacekeepers" did that! And Second, while Pakis were trading arms for Gold, the Western folks were trading some pittance in food for Gold.. and also for sex. Someone in my family was there as part of the Indian peacekeeping mission, and according to him, the incidence of HIV because of such sex by the Westerners was very high! So, the UN peacekeeping mission is really upto some dubious stuff!

Now, as regards the Paki army folks, I have never considered them professional in any case! Remember that pistol totting and cigarette smoking pic of Musharraf?... read more

Two Journalists met Bob Woolmer, caught on CCTV

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Some more news on Bob Woolmer's death.... two journalists are in the dock... they say it is from an earlier meeting not on the day of death... but these guys in Pakistan are known to obfuscate matters no matter what....so I would not hold my breath on their honesty!

The "last" CCTV footage of Bob Woolmer aired by BBC on Monday night shows him with two Pakistani journalists one of whom said the video was of March 16, two days before the coach of the Pakistani cricket team was found dead in his hotel room in Jamaica.

The two persons shown in the BBC footage with Woolmer in the hotel in Kingston are journalists Majid Bhatti, senior cricket correspondent of the Jung group of newspapers, and Ehsan Qureshi of state-owned news agency APP.... read more