Two arrested in Imran Farooq murder case: DAWN News

ISLAMABAD: Two men were arrested at Karachi airport a few days ago in connection with the killing of MQM leader Imran Farooq in London in September last year.

The suspects are said to be affiliated to a political party.

Officials privy to details told this correspondent that the arrested men had travelled to UK on student visa, stabbed Dr Farooq to death and then flown to Sri Lanka.

They were apprehended soon after they came out of the airport in Karachi after having travelled from Colombo.

It is learnt that they were arrested on a tip from British intelligence and other sources.

Their names have not been disclosed but the sources said that the president, prime minister and security establishment had been informed about the matter.

The sources said the arrests were made by personnel of the country`s elite intelligence agency with the help of photographs and videos provided by the British authorities.

The arrested persons have been kept in Karachi and investigation is in progress.

The accused had flown to London in August 2010 and the murder took place on September 16.

London`s Metropolitan Police and Scotland Yard had launched an investigation and arrested a suspect who was released later for lack of evidence.

Dr Farooq had co-founded the All Pakistan Mohajir Students Organisation (APMSO), the parent organisation of Muttahida Qaumi Movement, with Altaf Hussain. He was deputy convener of the party, technically next to the MQM chief.

But he left the party in 2009 after developing differences over organisational matters.

As the tiger awakens: Mohsin Hafeez on Chinese Power over and Stakes in the US Economy

TOO much of a good thing is bad. So is the case with the kind of democracy espoused by the political structure in America these days. The recent debt ceiling debate in the power corridors of Capitol Hill smacked of the worst kind of politics one has witnessed in the history of the developed world.

The Tea Party thought it fit to bring the country to the brink of the most disastrous scenario that was averted at the eleventh hour. The looming threat of the largest economy failing to keep its obligations was just as unfathomable to us here as it was spooky to the rest of the world. Notwithstanding the deal, and more because of the process that preceded the ‘signed, sealed and delivered’ moment, the debt rating of the US was lowered a notch to AA+ from its premium AAA rating.

In the last over 50 years, the debt limit has been raised at an average frequency of one and a half times every year, without as much as an eyelid being batted. Why it had to unravel the worst form of political showdown in the process this time is beyond comprehension and it does not hold up the high values of the greatest nation on earth, of American exceptionalism.

The US has borrowed with reckless abandon over the last several years.

The bubble finally burst in 2007, bringing with it the Great Recession. Even the brightest minds in the country missed the depth of the issue. Those who got it were snubbed, being labelled as ‘Keynesian’ as if it were a dirty word not fit for public utterance. The stimulus during the first few months of the Obama administration was cut down to size, with the result that it became only a half-baked effort. The Federal Reserve kept lowering the interest rates, and then deployed the silver bullet in the way of buying in billions, a combination of mortgage-backed and other US treasuries, to keep the interest rates from rising.

China is the largest creditor of the US, with about $1.3tr in US treasuries and agency securities. The Chinese found the US to be a safe haven, and holding US treasuries in large amounts also helped them mai ntain a tight relationship between the yuan and the US dollar. With the economic structure of China moving towards consumption, partially to cater to the rising middle class, at the expense of savings,