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Bryan Metzger
President Donald Trump delivered his State of the Union address on Tuesday night.
R

PoliticsNYTThe GuardianFox News+1The Independent2d ago4 sources Trump news at a glance: president to address Congress as new global tariffs take effect
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Parliamentarians’ attendance
REPORTS on the attendance of parliamentarians during sessions almost invariably evoke much interest among citizens. Although the average attendance in the National Assembly has been hovering around 60 per cent for the last many years and the citizenry seems to have made its peace with that, there are statistics which sometimes shock the people. For example, a Fafen report on parliamentarians’ attendance during the 23rd National Assembly session held from Jan 12 to Jan 22 this year indicates that 47 or 14pc members remained absent throughout the session and didn’t attend even a single sitting; 276 or 83pc of the total 332 members skipped at least one session. Similar statistics about the 22nd session indicate that about 70pc of the absent members didn’t seek prior leave from the House.
The system of taking attendance is such that a person marked present might not have been there throughout the sitting and his/her presence for even a fraction of the sitting may be marked as present. Given the fact that the average duration of a sitting ranges from two to three hours (it was two hours during the first year of the present National Assembly), a member attending the sitting may have been present only for a few minutes.
The absence of members from a sitting significantly impacts parliamentary proceedings. Our parliamentary system requires the presence of at least 25pc of the total members which constitutes the quorum. The Assembly proceedings are stopped after a member points out a lack of quorum and the subsequent head count confirms that the minimum required members are not present. A Pildat report indicates that during the past (15th) National Assembly, lack of quorum was pointed out in 105 (23pc) of sittings, and subsequently, 72 or 16pc of the sittings had to be adjourned on this basis. The abrupt termination of a day’s proceedings impacts the productivity of the Assembly as the day’s agenda (order of the day) is left incomplete. During the five years of the 15th National Assembly, on average, less than 50pc (49.47pc to be exact) of the agenda items could be taken up by the Assembly.
Ministers’ absence also impacts the quality of proceedings and some of the agenda items have to be deferred because the relevant minister is not present. During the 23rd session of the current Assembly, for example, 29 federal ministers were supposed to answer members’ questions but a majority (19) of them did not show up on the day allocated for answering questions relating to their ministries. In most cases, the absence of the minister concerned deprives members of the opportunity to ask supplementary questions. Similarly, adjournment motions, privilege motions and call-attention notices also require the presence of the minister concerned. The Speaker has repeatedly expressed displeasure at the frequent absence of ministers. Sometimes, ministers of state and parliamentary secretaries do not show up either to fill in for the minister concerned.
Pakistan’s parliament is not the only one which faces issues of low attendance.
Ministers generally take their cue from the prime minister and they are more likely to show up in the House if the PM is particular about his presence. During the life of the 15th Assembly, the attendance of the PM was a mere 13pc (11pc for Imran Khan and 17pc for Shehbaz Sharif).
The attendance becomes more known through the media in the case of plenary sittings but the status of attendance is no different in the case of parliamentary committees. Many meetings are adjourned by the chair because the minister concerned and senior officials of the ministry do not show up at the meeting, leading to a wastage of financial resources spent on convening the meetings.
However, one may add that Pakistan’s parliament is not the only one which faces issues of low attendance. Many parliaments face a similar situation and a number of parliaments have waived the condition of the presence of a minimum percentage of members for the validity of the proceedings. For example, the UK parliament and US Congress do not have a quorum requirement. The proceedings of the legislatures continue in these countries even if a single member is present in the House. In the case of the UK parliament, many parliamentary committees hold their meetings concurrently with the plenary. The proceedings of the plenary are watched by the members on CCTV while sitting in their offices or in meeting rooms. Members’ presence is required when a motion or a bill has to be voted on. Bells are rung at that time and members available within parliamentary precincts rush to the chamber to vote. The absence of a member from the precincts during the time of the plenary is, however, rare and frowned upon.
A major reason for our legislators to be casual about their presence during the Assembly sittings has a lot to do with the preferences of a majority of their voters. Most voters are not so keen about their legislators’ performance in the Assembly. A member who works very hard on his parliamentary speeches and, for example, scrutiny of the annual budget, is seldom appreciated by the constituents. People want their elected representatives to attend to their personal issues, which need an influential legislator’s support for resolution due to poor governance. Finding jobs for constituents and their family members is one of the top expectations from legislators. Interceding with the local administration and police on behalf of the constituents to sort out their day-to-day problems is also among the informal responsibilities of legislators. Attending the weddings and funerals of voters’ extended families, too, is a strong preference of constituents. These informal chores are likely to be of greater help to a legislator in his re-election than making a speech in the House. The weak attendance of legislators is, therefore, not because of their lethargy. Instead, it is a reflection of the ground realities of our own governance and culture.
The writer is president of the Pakistan-based think tank Pildat.
X: @ABMPildat
Published in Dawn, February 20th, 2026

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The Federal Reserve, established more than a century ago, is the United States’ third experiment with central banking.
For much of its existence, the institution maintained a low public profile.
Only after the 2008 global financial crisis did the Fed begin communicating more openly, introducing post-meeting press conferences and allowing monetary policymakers to engage more frequently with the media.
Greater transparency, however, has brought greater scrutiny.
Public sentiment toward the Fed and its leadership has fluctuated over the years. Today, YouGov polling suggests the central bank is viewed favorably by 44 percent of Americans and unfavorably by 18 percent.
If the Fed pursues a series of reforms, it will have “another great 100 years,” said Kevin Warsh, who was nominated by President Donald Trump to serve as the institution’s next chair.
Comparable to past central banks, Warsh said, the current Federal Reserve System is beginning to lose the consent of the governed.
“You can think about the Jacksonians of prior times say that the central bank seems like they’re trying to focus and they’re all preoccupied with those special interests on the East Coast, and they’ve lost track of what’s happening to us in the center of the country,” Warsh said in a July 2025 interview with the Hoover Institution’s Peter Robinson.
“It’s a version of what worries me today.”
What happened in the past, and why is it relevant to today’s central bank?
The First Bank of the United States
In the aftermath of the American Revolution, the United States faced a series of immense economic disruptions, forcing the nation’s architects to rebuild the economy.
The objective was to lower inflation, restore the value of the nation’s currency, repay war debt, and revive the economy.
Alexander Hamilton, the first secretary of the Treasury under the new Constitution, proposed establishing a national bank modeled on the Bank of England. Hamilton stated that a U.S. version would perform various duties, including issuing paper money, serving as the government’s fiscal agent, and protecting public funds.
Not everyone shared Hamilton’s ebullience over a central bank.
Thomas Jefferson, for example, feared that such an institution would not serve the nation’s best interests. Additionally, Jefferson and other critics argued that the Constitution did not grant the government the authority to create these entities.
Nevertheless, Congress enacted legislation to establish the Bank of the United States. President George Washington then signed the bill in February 1791.
Two of America's founding fathers: Thomas Jefferson (L) and Alexander Hamilton. The White House
While bank officials did not conduct monetary policy as modern central banks do, they did influence the supply of money and credit, as well as interest rates.
The entity managed the money supply by controlling when to redeem or retain state‑bank notes. If it sought to tighten credit, it would require payment in gold or silver, thereby draining state banks’ reserves and limiting their ability to issue new notes. If it wanted to expand credit, it simply held on to those notes, boosting state‑bank reserves and enabling them to lend more.
By 1811, the national bank’s charter expired.
While there had been discussions of allowing it to continue maintaining operations, Congress—both chambers—voted against renewing its mandate by a single vote.
Its closure came shortly before the War of 1812, which fueled inflation and weakened the currency.
Second Bank of the United States
Lawmakers believed another central bank was critical at a time of fiscal, inflationary, and trade pressures.
Congress used a similar 20-year model to produce the Second Bank of the United States, headed by Nicholas Biddle. The second incarnation had a federal charter, was privately owned, and was tasked with regulating state banks (with gold and silver for note redemption).
President James Madison, who opposed the first central bank on constitutional grounds, supported the new institution out of financial necessity.
Its creation stabilized credit and brought down inflation. However, by the 1830s, the bank faced strong opposition, particularly from President Andrew Jackson.
Labeled the Bank War, Jackson engaged in a years-long initiative to dissolve the central bank.
Jackson claimed the national bank was a tool for the wealthy eastern elite and a threat to self-government.
“The Jacksonians described themselves as conscious hard-money men who supported the rigid discipline of the gold standard, yet they opposed the newly powerful national Bank because it restrained the expansion of credit and, thus, thwarted robust economic expansion,” author William Greider wrote in “Secrets of the Temple.”
In 1832, Jackson vetoed legislation to recharter the bank four years early, delivering a fiery message that historians say was one of the most important vetoes in the nation’s history.
“It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government,” Jackson wrote.
“There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me, there seems to be a wide and unnecessary departure from these just principles.”
The charter expired in 1836, leading to the panic of 1837.
An economic crisis unfolded, leading to bank failures, business bankruptcies, rising unemployment, and contracting credit. While the collapse of the central bank is often considered a leading cause, the British also urged London banks to reduce credit to American merchants, causing a sharp drop in global trade.
As the smoke cleared and dust settled, it was not until the 1840s that the United States embarked on a historic economic recovery, now known as the Free Banking Era.
Banking was decentralized, and finance was largely unregulated. Despite an erratic financial system, the U.S. economy grew rapidly: agricultural production accelerated, railroads were built, and the country expanded westward. Additionally, deflation was paramount throughout most of the economic expansion.
The Federal Reserve System
The panic of 1907 led to the creation of the Federal Reserve System.
Following years of heavy borrowing, speculative commodities investments (mainly copper), and enormous stock market gains, a financial crisis was brewing. The event nearly brought down the U.S. banking system.
J.P. Morgan, a financier, intervened and emulated the actions of modern central banks. He met with the nation’s top bankers, facilitated emergency loans to financial institutions, and backed stockbrokers. The damage had been done as the United States fell into a year-long recession, marked by high unemployment and widespread bank failures.
The Federal Reserve Board of Governors seal in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch Times
Washington realized that it could not rely on private bailouts to prevent sharp downturns.
Sen. Nelson Aldrich (R-R.I.) is widely regarded as one of the chief architects of the modern Federal Reserve System.
In 1910, Aldrich hosted the famous Jekyll Island meetings, a gathering of U.S. officials and bankers, to discuss the blueprint of a new central bank.
While the initial draft laid the foundation for the institution, the official Federal Reserve Act was drafted by President Woodrow Wilson, Rep. Carter Glass (D-Va.), and H. Parker Willis, an economist on the House Banking Committee.
The new system was a public-private hybrid, with the federal government firmly in charge, and bankers running the regional reserve banks.
“It was Wilson’s great compromise,” wrote Greider, “creating a hybrid institution that mixed private and public control, an approach without precedent at the time.”
The legislation triggered a contentious political debate over the extent of its independence from the Treasury and the degree of authority delegated to policymakers over currency issuance.
Days before Christmas, the bill cleared both chambers and was signed into law by Wilson on Dec. 23.
“Wilson’s conviction that he had struck the right moderate balance seemed confirmed, however, by the reactions to his legislation,” Greider noted.
“It was attacked by both extremes—the ‘radicals’ from the Populist states and the bankers in Wall Street and elsewhere.”
Since its inception in 1913, the modern Federal Reserve has undergone numerous changes and has gained greater power.
The New Deal, for instance, allowed the Fed to become the lender of last resort as Washington learned the central bank could not prevent bank failures.
In 1951, the Treasury-Fed Accord restored central bank independence after the Federal Reserve had been forced to keep interest rates artificially low throughout the Second World War.
Congress then enacted the Federal Reserve Reform Act in 1977, establishing the dual mandate of promoting maximum employment and maintaining price stability.
2026 and Beyond
Over the past 50 years, the Fed has undergone modest changes, including the issuance of forward guidance and the disclosure of emergency lending facilities.
But while each new regime has nibbled around the edges, Warsh has suggested he could effect substantial reforms at the central bank.
“Until there’s regime change at the Fed and new people running the Fed, a new operating framework, they’re stuck with their old mistakes,” Warsh told Fox Business Network in October 2025.
“Bygones aren’t just bygones.”
Tyler Durden
Wed, 02/18/2026 - 16:20

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PoliticswapoDawnPremium Times10d ago3 sources Motorway closure heaps misery on commuters, transporters, traders
PESHAWAR: The prolonged closure of the Peshawar-Islamabad Motorway (M-1) by the PTI activists heaped misery on commuters, transporters and traders.
The ruling party’s leaders and workers have closed M-1 at Swabi rest area since last Friday to demand early treatment of their incarcerated leader, Imran Khan, for “vision loss”.
The closure of M-1, the main artery connecting Peshawar with the rest of the country, has put the Grand Trunk Road, the other major road, under immense strain as the neglected highway is unable to cater to the traffic diverted from the motorway.
Also, the GT Road is facing closures by PTI activists, causing massive inconvenience to people travelling to attend urgent business meetings and exams, take international flights from Islamabad airport and seek treatment. The businessmen, whose supplies have got stuck along the road, are also distressed.
Businessmen wonder why PTI govt troubling people of KP
Jan Mulk, a businessman, who was travelling from Islamabad to Peshawar on Sunday evening, told Dawn that he left Islamabad at around 4:30pm and reached Attock at around 6:30pm before finding himself caught in a huge traffic jam at Attock crossing.
“Hundreds of vehicles were stuck in a long traffic grid lock and there was not even any way to turn back,” he said.
The businessman said that the Attock traffic gridlock forced him to return and spend the night in Islamabad before coming to Peshawar next morning.
“There were women, children and elderly, with a large number of them being on foot due to road closure and unavailability of public transport,” he said.
Mr Mulk said transporters in Attock were charging commuters Rs1,000 for a trip to Rawalpindi.
Khan Zaman Afridi, president of Khyber Pakhtunkhwa Transporters Association, told Dawn that road closures had made life difficult for transports.
“Nearly 3,000 vehicles leave Peshawar General Bus Stand on a daily basis but the number has dropped to around 1500 due to road closures,” he said.
Mr Afridi said almost all public transport used the M-1 and now its closure has diverted all the traffic to the GT Road and a usual trip of two to three hours on motorway was taking over 10 hours on GT Road.
“GT Road is not old GT Road and is full of potholes and full of vans, Qingqi motorcycle-rickshaws and push carts, so it is very difficult to traverse and now, the entire motorway traffic has been diverted to it, causing massive traffic snarl,” he said.
Mr Afridi said that due to the road closures, many people had stopped travelling, and commuter arrivals at bus stands had almost halved as only people who had to attend urgent business meetings travelled in compulsion.
“It is ironic that the KP government is inflicting pain on its own people,” he said.
A representative of Faisal Movers told Dawn that his transport company had stopped its Peshawar-Islamabad operations since the start of the M-1 closure.
Junaid Altaf, president of KP Chamber of Commerce and Industry, questioned the rationale for the motorway closure.
“Who are they troubling? Is it the people of KP or residents of Punjab and Sindh who are being affected due to the M-1 closure?”
Mr Altaf said that KP chief minister and his cabinet had been sitting in Islamabad for the past many days, leaving their offices and official duties unattended.
He said that the prolonged closure of Pak-Afghan border points had already ruined the province’s business community and now, the politicians didn’t understand that the trucks stranded on the road to KP carried raw material to factories in the province and prolonged closure was hurting the business community as well as the economy of the province.
“If PTI thinks the people of KP deserve this for voting them to the powers, then it is ok and we deserve it,” he said.
Malik Sohni, president of All Pakistan Agriculture Produce Traders Federation, told Dawn that road closures had resulted in an over 10pc increase in the vegetable prices in the provincial capital.
He said that in the current season, potatoes, onions, tomatoes, okra, garlic, peas and leafy vegetables were transported from Punjab to Peshawar.
Mr Sohni said that as vegetables were perishable, prolonged blockages not only caused spoilage but also drove the prices up.
“Prices automatically go up when fresh supplies don’t reach on time,” he said.
Published in Dawn, February 17th, 2026

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Rightwing thinktank joins backlash to Queensland’s ‘vague’ proposed hate speech laws
Institute of Public Affairs latest to raise free speech concerns over bill facing criticism from across the political divide
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There is growing backlash to Queensland’s antisemitism laws on all sides of politics, with rightwing thinktank the Institute of Public Affairs (IPA) the latest group to raise free speech concerns about the “vague” bill.
Margaret Chambers, a research fellow at the IPA, said the bill would confer extraordinary power on a single minister to “engage in censorship and the criminalising of opinions and debate” on the basis of a subjective standard, without oversight by the courts.
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