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KA\X@L_D\K@A

&B t|`dn ovdfbago* toduxk|kot ovdfbago `x h`uxto kt b d`xy`xb|k`a `x mu|ubj `xgbakb|k`a wfkdf yx`sklot

(|xblkag( cbdkjk|kot c`x t|`dn hx`noxt bal |xbloxt* |` |xblo t|`dnt bal `|fox toduxk|kot!+T|`dn ovdfbagot

bjt` yx`sklo cbdkjk|kot c`x |fo kttuo bal xolomy|k`a `c toduxk|kot bt wojj bt `|fox ckabadkbj kat|xumoa|tbal dbyk|bj osoa|t kadjulkag |fo yb{moa| `c kad`mo bal lkskloalt! \fo toduxk|kot |xblol `a b t|`dn

ovdfbago kadjulo5 tfbxot kttuol h{ d`mybakot* uak| |xut|t bal `|fox y``jol kasot|moa| yx`lud|t bal

h`alt! \` ho bhjo |` |xblo b toduxk|{ `a b dox|bka t|`dn ovdfbago* k| fbt |` ho jkt|ol |foxo! _tubjj{ |foxo

kt b doa|xbj j`db|k`a b| jobt| c`x xod`xlnooykag* hu| |xblo kt jott bal jott jkanol |` tudf b yf{tkdbj yjbdo*

bt m`loxa mbxno|t bxo ojod|x`akd ao|w`xnt* wfkdf gksot |fom blsba|bgot `c tyool bal d`t| `c

|xbatbd|k`at! \xblo `a ba ovdfbago kt h{ momhoxt `aj{! \fo kak|kbj `ccoxkag `c t|`dnt bal h`alt |`

kasot|`xt kt h{ lockak|k`a l`ao ka |fo yxkmbx{ mbxno| bal tuhtoruoa| |xblkag kt l`ao ka |fo tod`albx{

mbxno|! B t|`dn ovdfbago kt `c|oa |fo m`t| kmy`x|ba| d`my`aoa| `c b t|`dn mbxno|! Tuyyj{ bal

lombal ka t|`dn mbxno|t kt lxksoa h{ sbxk`ut cbd|`xt wfkdf* bt ka bjj cxoo mbxno|t* bccod| |fo yxkdo `c

t|`dnt &too t|`dn sbjub|k`a+!\foxo kt utubjj{ a` d`myujtk`a |` kttuo t|`dn skb |fo t|`dn ovdfbago k|tojc*

a`x mut| t|`dn ho tuhtoruoa|j{ |xblol `a |fo ovdfbago! Tudf |xblkag kt tbkl |` ho `cc ovdfbago `x `sox-

|fo-d`ua|ox ! \fkt kt |fo utubj wb{ |fb| h`alt bxo |xblol! Kadxobtkagj{* t|`dn ovdfbagot bxo ybx| `c b

gj`hbj mbxno| c`x toduxk|kot!

\fo wojj-`xgbakol t|`dn mbxno| m`hkjkot |fo tbskagt bal bd|ksb|ot |fo kasot|moa| yx`eod|t* wfkdf jobl

|` od`a`mkd bd|ksk|kot ka b d`ua|x{! \fo no{ cuad|k`a `c t|`dn mbxno| kt |` bd| bt molkb|`x ho|wooa

tbsoxt bal h`xx`woxt! K| m`hkjkot tbskagt cx`m b jbxgo y``j `c tmbjj tbsoxt bal dfbaaojkot |foto cualt

ka|` cxuk|cuj kasot|moa|t! \fo yxocoxoadot `c |fo joaloxt bal h`xx`woxt bxo fbxm`akol |fx`ugf t|`dn

mbxno| `yoxb|k`a! \fo T|`dn mbxno| bjt` tuyy`x|t xobjj`db|k`a `c cualt bm`ag d`xy`xb|k`at bal tod|`xt!

K| bjt` yx`sklot jkruklk|{ c`x l`mot|kd ovybatk`a bal dxolk| gx`w|f! \fo joblkag t|`dn mbxno|t `c |fo

w`xjl `htoxsol aogb|kso gx`w|f xbagkag cx`m ?9!7 yoxdoa| &Ybnkt|ba+ |` 8!; yoxdoa| &Dfkab+ luxkag |fo

cktdbj {obx 8996-9; &Od`a`mkd Tuxso{ `c Ybnkt|ba 8996-9;+!

\fo x`jo `c t|`dn ovdfbagot

Xbktkag dbyk|bj c`x hutkaottot

M`hkjkkag tbskagt c`x kasot|moa|

Cbdkjk|b|kag d`myba{ gx`w|f

Xolkt|xkhu|k`a `c wobj|f

D`xy`xb|o g`soxabado

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Dxob|kag kasot|moa| `yy`x|uak|kot c`x tmbjj kasot|`xt

G`soxamoa| dbyk|bj-xbktkag c`x losoj`ymoa| yx`eod|t

Hbx`mo|ox `c |fo od`a`m{

Oruk|{ Mbxno|

Ka 2;;2* |fo tod`albx{ mbxno| wbt `yoaol c`x c`xokga kasot|`xt `a ba orubj hbtktwk|f |fo j`dbj

kasot|`xt! \fkt mobtuxo bj`ag wk|f |fo g`soxamoa| y`jkd{ `c yxksb|ktb|k`a fbt xotuj|ol ka xbykl gx`w|f

`c |fo mbxno| tkado 2;;2! K| mb{ bjt` homoa|k`aol |fb| (yxksb|ktb|k`a( fbt hoo a bl`y|ol bt b

yfkj`t`yf{ bal m`t| `c |fo hutkaott # ckabado bd|ksk|kot wfkdf woxo yxosk`utj{ xotoxsol c`x |fo yuhjkd

tod|`x fbso a`w hooa `yoaol c`x |fo yxksb|o tod|`x! \fo dfbago `c y`jkd{ kt m`t| sktkhjo ka|fo ckabadkbj

tod|`x wfoxo b aumhox `c d`mmoxdkbj hbant* kasot|moa| hbant* lktd`ua|f`utot* jobtkag d`mybakot*

m`lbxbhbt* jkco katuxbado d`mybakot bal mu|ubj cualtfbso hooa bjj`wol ka |fo yxksb|otod|`x!Jkhoxbjktb|k`a y`jkd{ fbt jol |` xbykl loxogujb|k`a `c |fo ab|k`abj od`a`m{ bal |fokmyolkmoa|t

|` yxksb|o kak|kb|kso fbso hooa tyoolkj{ xom`sol! C`xokga ovdfbagof`jlkagt bal |xbatcoxt fbso hooa

jkhoxbjktol* kalut|xkbj tbad|k`akag fbt hooa l`aobwb{ wk|f ovdoy| c`x cow tod|`xt wfoxo* c`x t|xb|ogkd

xobt`at* yxk`x yoxmkttk`a `c |fog`soxamoa| kt aodottbx{!

Jogbj Cxbmow`xn

\fo toduxk|kot mbxno| bal |fo d`xy`xb|o tod|`x bxo xogujb|ol h{ |fo yx`sktk`at `c 52!\fo D`mybakot

@xlkabado 2;68!\fo Toduxk|kot bal Ovdfbago @xlkabado 2;3; bal Xujot cxbmol |foxoualox

ka2;72>4!\fo Toduxk|kot # Ovdfbago D`mmkttk`a Bd| 2;;;!\foxo bxo bjt` Coloxbj jogktjb|k`at xojb|kag |`

tyodkckd bxobt jkno52!M`a`y`jkot bal Xot|xkd|kso \xblo Yxbd|kdot &D`a|x`j bal Yxosoa|k`a+@xlkabado*

2;79>8!Kasot|moa| D`mybakot bal Kasot|moa| Blskt`xt Xujot 2;72>4!M`lbxbhb D`mybakot bal

M`lbxbhb &Cj`|b|k`a bal D`a|x`j+ @xlkabado* 2;69>?!Jobtkag

D`mybakot &ot|bhjktfmoa| bal Xogujb|k`a+ Xujot 2;;3>3!Btto| Mbabgomoa| D`mybakot Xujot

2;;3>7!Katuxbado D`mybakot @xlkabado 8999>6!Guklojkaot c`x katkloxt |xblkag Ka bllk|k`a |` bh`so* |fo

jkt|ol d`mybakot bxo bjt` tuheod| |` |fo Xujot balXogujb|k`at `c |fo t|`dn ovdfbagot!

\fo Xogujb|`x

\fo xogujb|`x{ bu|f`xk|{ c`x |fo toduxk|kot mbxno| bal d`xy`xb|o tod|`x ka Ybnkt|ba kt|fo Toduxk|kot bal

Ovdfbago D`mmkttk`a `c Ybnkt|ba! \fo D`mmkttk`a wbtot|bhjktfol `a Ebaubx{ 92*2;;; h{ lktt`jskag |fo

D`xy`xb|o Jbw Bu|f`xk|{ wfkdf wbtc`xmol ka 2;62 ualox b Tyodkbj Jbw! \fo D`mmkttk`a blmkakt|oxt

|fo d`myjkbado `c |fo D`xy`xb|o jbwt ka |fo d`ua|x{! \fo D`mmkttk`a kt xua h{ |fo D`mmkttk`aoxtualox

b Dfbkxmba!\fo Btkba Losoj`ymoa| Hban't Dbyk|bj Mbxno| Losoj`ymoa| Yx`gxbmmo oasktbgol|fo

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d`asoxtk`a `c DJB ka|` Toduxk|kot bal Ovdfbago D`mmkttk`a `c Ybnkt|ba* bt babu|`a`m`ut xogujb|`x{

bu|f`xk|{! \fo aow t{t|om yx`sklot blmkakt|xb|kso*`yoxb|k`abj bal ckabadkbj bu|`a`m{ |` |fo

D`mmkttk`a bal b| |fo tbmo |kmo yx`sklotba bdd`ua|bhkjk|{ modfbaktm |fx`ugf ot|bhjktfmoa| `c b

Toduxk|kot bal OvdfbagoY`jkd{ H`bxl! Bjj y`jkd{ lodktk`at bxo mblo h{ |fo H`bxl `a |fo

xod`mmoalb|k`at `c |fo D`mmkttk`a wfkdf kt bjt` omy`woxol |` |bno tu` m`||` bd|k`a! \fo H`bxl

ktlkxod|j{ batwoxbhjo |` |fo Ybxjkbmoa|!Momhoxt `c |fo t|`dn ovdfbagot bxo bjt` tuheod| |` |fo

lktdkyjkao `c tojc-xogujb|k`aualox sbxk`ut Xujot bal Xogujb|k`at `c |fo t|`dn ovdfbagot! Tojc-Xogujb|k`a

kt |foottoado `c mbxno| xogujb|k`a bal c`x |fkt yuxy`to |fo jogbj cxbmow`xn fbt hooabmoalol |`

cbdkjk|b|o |fo b||bkamoa| `c TX@ t|b|ut h{ |fo t|`dn ovdfbagot!

KASOT\@X TYODKCKD

\fo c`jj`wkag yjbat bal |bv kadoa|ksot bxo bsbkjbhjo |` h`|f kasot|`xt bal jkt|old`mybakot!

C`xokga Kasot|`x - tyodkckd5

\fo c`xokga kasot|`xt bxo cxooj{ bjj`wol |` `yoxb|o ka |fo dbyk|bj mbxno|wk|f`u| ba{ xo|oa|k`a yoxk`l!

\foxo bxo a` xot|xkd|k`at `a |fo ov|oa| `c c`xokga `waoxtfky t|bno bal bjt` a`jkmk| c`x f`jlkag |fo

tfbxot c`x |xblkag yuxy`tot!

Cualt kasot|ol ka |fo dbyk|bj mbxno| bxo cxooj{ |xbatcoxbhjo bj`agwk|f lkskloalkad`mo!

C`xokga kasot|`xt bxo |xob|ol b| ybx wk|f j`dbj kasot|`xt ka |bv |xob|moa|!

J`dbj Kasot|`x tyodkckd5

\fo lkskloal kt tuheod| |` wk|ff`jlkag |bv b| 29/! Lkskloal kad`mo kt |bvol bt b toybxb|o hj`dn `c

kad`mo ka |fo fbalt `c kalksklubj tfbxof`jloxt!

Ba{ kad`mo loxksol cx`m \CDt kt tuheod| |` kad`mo |bv wk|f occod| cx`mkad`mo {obx 8992 8998!

Goaoxbj5

Jkt|ol d`mybakot bxo |`aol b| 4?/!

Yx`skloa| cualt dba a`w kasot| ka byyx`sol jkt|ol toduxk|kot! \fo{ bxo bjt`bjj`wol |` kasot| ka `yoa

oal mu|ubj cualt ot|bhjktfol ualox |fo Btto|Mbabgomoa| D`mybakot Xujot 2;;3!

A` |uxa`sox |bv kt yb{bhjo h{ d`mybakot `a |fokx |uxa`sox xoyxotoa|kag|xbatbd|k`at ka toduxk|kot jkt|ol

`a t|`dn ovdfbagot!

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T|`dn Ovdfbago Ka Ybnkt|ba

Ka Ybnkt|ba |foxo bxo |fxoo T|`dn Ovdfbagot!!

Nbxbdfk T|`dn Ovdfbago &NTO+

Jbf`xo T|`dn Ovdfbago &JTO+

Ktjbmbhbl T|`dn Ovdfbago &KTO+

2+ Nbxbdfk T|`dn Ovdfbago

\fo Nbxbdfk T|`dn Ovdfbago `x NTO kt bt|`dn ovdfbagoj`db|ol kaNbxbdfk* Tkalf* Ybnkt|ba! C`ualol ka

2;

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Jkt|ol dbyk|bj _T, l!Fotfo fbt d`my`ualol wk|f fktfox dxolk|`xt* uajott fotfo fbt

ybklfualxol ybktbt ka |fo xuyoo>o!Fotfo fbt hooa d`askd|ol `c ba `ccoado kas`jskag cxbul `x dfob|kag

`x lktf`aot|{ `x ba{ `|fox kalkd|bhjo dxkmkabj `ccoado>c!Fotfo kt btt`dkb|ol wk|f* `x kt b momhox `c* `x

tuhtdxkhox |`* `x tfbxof`jlox `x lohoa|uxo f`jlox ka* `x d`aaod|ol |fx`ugf b ybx|aox `x omyj`{oo wk|f

ba{ `|fox @xgbakb|k`a* Kat|k|u|k`a* Btt`dkb|k`a kaNbxbdfk wfoxo lobjkagt ka Toduxk|kot bxo dbxxkol

`a>g!Fotfo fbt hooa b| ba{ |kmo ovyojjol `x lodjbxol b locbuj|ox h{ ba{T|`dn Ovdfbago `x \xblo

Btt`dkb|k`a ka Ybnkt|ba>f!Fotfo fbt hooa yxosk`utj{ xocutol blmkttk`a |` |fo momhoxtfky `c ba{ T|`dn

Ovdfbago uajott b yoxk`l `c tkv m`a|ft fbt ojbytol cx`m |folb|o `c tudf xocutbj>

8!\fo byyjkdba| tf`ujl ho ba kad`mo |bv `x wobj|f |bv bttottoo `x h`xao bt babttottoo `a |fo xogkt|ox

`c kad`mo |bvwobj|f |bv!4!\fo mkakmum rubjkckdb|k`a c`x ba byyjkdba| c`x |fo Momhoxtfky tfbjj

ho(Gxblub|k`a(!&Ka |fo dbto `c b yoxt`a f`jlkag b| jobt| ? {obxt ovyoxkoado `c w`xnkag bt babgoa| wk|f

ba{ `c |fo momhoxt `c |fo NTO `x b c`xmox momhox `c |fo NTOwf` fbl xotkgaol `a s`jua|bx{ hbtkt

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wk|f`u| ba{ dbuto `c d`myjbka| `x djbkm*mb{ ho bjj`wol wbksox `c |fkt xorukxomoa| h{ |fo H`bxl+!

byyjkdba| tf`ujl fbso tucckdkoa| na`wjolgo `c t|`dn mbxno| hutkaott!?!Xocoxoado cx`m b tdfolujol hban

ka bllk|k`a |` `|fox xocoxoadot bt lktdj`tolka |fo Momhoxtfky c`xm!3!Ka |fo dbto `c ba bd|kso momhox

ckjkag fktfox|fokx |xbatcox byyjkdb|k`aa`mkab|k`a* tudf momhox tfbjj bjt` tuhmk| b hban gubxba|oo `x

bgubxba|oo h{ `ao `c |fo ovkt|kag momhoxt `c |fo Ovdfbago `x b gubxba|oo h{|fo kad`mkag momhox `x

ba{ oruksbjoa| toduxk|{ ka |fo mbaaox bt mb{ ho yxotdxkhol h{ |fo Ovdfbago |` |fo ov|oa| `c Xt! 8!?

mkjjk`a sbjkl c`x b yoxk`l`c 8 {obxt cx`m |fo lb|o `c |xbatcox `c momhoxtfky ka `xlox |` kalomakc{

|foNbxbdfk T|`dn Ovdfbago bgbkat| bjj djbkmt `c xoyjbdomoa| `c tfbxot xodoksolbc|ox |fo |xbatcox `c

momhoxtfky bt yox Xujo 83&b+ `c Xobl{ Lojksox{D`a|xbd|t!

Dxk|oxkb c`x D`xy`xb|o Momhoxtfky5

2!\fo D`xy`xb|o H`l{ byyjkdba| c`x momhoxtfky mut|>b!ho b d`myba{ `x b t|b|ubx{ d`xy`xb|k`a `x b

h`l{ d`xy`xb|o> h!fbso b mkakmum kttuol bal ybkl-uy dbyk|bj `c Xt! 89 mkjjk`a!8!Ka dbto `c t|b|ubx{d`xy`xb|k`a `x b h`l{ d`xy`xb|o |` wfkdf tod|k`a 264 `c |fod`mybakot @xlkabado 2;6< byyjkot> |fo

momhoxtfky byyjkdb|k`a tfbjj hobdd`mybakol h{ b (a` `heod|k`a( cx`m |fo Coloxbj `x Yx`skadkbj

G`soxamoa|*bt |fo dbto mb{ ho>4!\fo A`mkaoo Lkxod|`x xoyxotoa|kag D`xy`xb|o Momhoxtfky mut| ho b

dk|koa`c Ybnkt|ba! Tudf a`mkaoo tfbjj a`| ho b momhox `c |fo Ovdfbago* a`x tfbjj ho b a`mkaoo `c ba{

`|fox D`xy`xb|o Momhox `c |fo Ovdfbago!

kadjulkag |fo Dfkoc Ovodu|kso mut| fbso b mkakmum bdblomkd rubjkckdb|k`a `c (Gxblub|k`a(!Yx`sklol

|fb| ka |fo dbto `c d`asoxtk`a `c ba kalksklubj |` D`xy`xb|oMomhoxtfky |fo xorukxomoa| `c mkakmum

rubjkckdb|k`a c`x |fo Dfkoc Ovodu|kso tfbjj a`| byyj{* wfoxo |fo tbmo kalksklubj momhox d`a|kauot

btDfkoc Ovodu|kso `c |fo D`xy`xb|o Momhoxtfky!&Ka dbto |fo Dfkoc Ovodu|kso `c |fo D`myba{ kt b

momhox `c |fo Ovdfbago bal|fo A`mkaoo Lkxod|`x fbt |fo t|`dn mbxno| ovyoxkoado `c b| jobt| ? {obxt

bt babgoa| wk|f ba{ `c |fo momhoxt `c |fo Ovdfbago mb{ ho bjj`wol wbksox `c |fobdblomkd

rubjkckdb|k`a h{ |fo H`bxl+!?!Ka |fo dbto `c ba bd|kso momhox ckjkag fktfox|fokx |xbatcox

byyjkdb|k`aa`mkab|k`a* tudf momhox tfbjj bjt` tuhmk| b hban gubxba|oo `x b gubxba|oo h{`ao `c |fo

ovkt|kag momhoxt `c |fo Ovdfbago `x b gubxba|oo h{ |fo kad`mkagmomhox `x ba{ oruksbjoa| toduxk|{ ka

|fo mbaaox bt mb{ ho yxotdxkhol h{ |foOvdfbago |` |fo ov|oa| `c Xt! 8!? mkjjk`a sbjkl c`x b yoxk`l `c 8

{obxt cx`m |folb|o `c |xbatcox `c momhoxtfky ka `xlox |` kalomakc{ |fo Nbxbdfk T|`dn Ovdfbago bgbkat|

bjj djbkmt `c xoyjbdomoa| `c tfbxot xodoksol bc|ox |fo|xbatcox `c momhoxtfky bt yox Xujo 83&b+ `c Xobl{Lojksox{ D`a|xbd|t!3!\fo momhoxtfky byyjkdb|k`a tfbjj ho bdd`mybakol h{ ba bulk|`xt

dox|kckdb|od`ackxmkag |fb| |fo d`myba{ mbka|bkat b ao| dbyk|bj hbjbadoao| btto|t sbjuo`c b| jobt| Xt!

8*?99*999- &ovdjulkag |fo sbjuo `c momhoxtfky dbxl+!7!\fo rubjkckdb|k`a `c a`mkaoo Lkxod|`x tfbjj ho

fkt f`jlkag `c rubjkckdb|k`atfbxot ka |fo d`myba{ |` |fo ov|oa| yx`sklol ualox |fo Bx|kdjot `c

|foa`mkab|kag d`xy`xb|o momhoxtfky!6!?9/ `c |fo |`|bj aumhox `c Lkxod|`xt tuheod| |` b mkakmum `c

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|w` Lkxod|`xt`c |fo d`xy`xb|o momhoxtfky* kadjulkag |fo Dfkoc Ovodu|kso bal A`mkaoo*mut| fbso b

mkakmum bdblomkd rubjkckdb|k`a `c (Gxblub|k`a(!Yx`sklol |fb| ka |fo dbto `c d`asoxtk`a `c ba kalksklubj

|` D`xy`xb|oMomhoxtfky |fo xorukxomoa| `c mkakmum rubjkckdb|k`a c`x |fo Dfkoc Ovodu|ksoA`mkaoo

tfbjj a`| byyj{* wfoxo |fo tbmo kalksklubj momhox d`a|kauot bt Dfkoc Ovodu|ksoA`mkaoo `c |fo

D`xy`xb|o Momhoxtfky!

&Ka dbto |fo Dfkoc Ovodu|kso `c |fo D`myba{ kt b momhox `c |fo Ovdfbago bal|fo A`mkaoo Lkxod|`x fbt

|fo t|`dn mbxno| ovyoxkoado `c b| jobt| ? {obxt bt babgoa| wk|f ba{ `c |fo momhoxt `c |fo Ovdfbago

mb{ ho bjj`wol wbksox `c |fobdblomkd rubjkckdb|k`a h{ |fo H`bxl+!;!\fo Dfkoc Ovodu|kso bal A`mkaoo

Lkxod|`x mut| fbso b| jobt| 4 {obxt t|`dn mbxno| ovyoxkoado!29!Ka dbto |fo oruk|{ `c |fo d`myba{ kt

tuhtdxkhol h{ c`xokga ybx|kdkyba|t> A`@heod|k`a Dox|kckdb|ot cx`m T|b|o Hban `c Ybnkt|ba bal Mkakt|x{ `c

Ckabado> kt|` ho cuxaktfol! A@\KDO YOXK@L C@X \XBATCOX @C MOMHOXTFKY2!Ka xojb|k`a |` kabd|kso

momhox* wf` fbt byyjkol c`x |xbatcox `c fktfox|fokx momhoxtfky> |fo a`|kdo yoxk`l c`x |fo yuxy`to

tfbjj ho 2? lb{t c`x kask|kag`heod|k`atdjbkmt bc|ox |fo kttuo `c a`|kdo!Yx`sklol |fb| ba bd|kso momhox*

wf` fbt hooa kabd|kso c`x b yoxk`l `c b| jobt|8 {obxt cx`m |fo lb|o `c ckjkag |fo |xbatcox

byyjkdb|k`aa`mkab|k`a bal* fbtbjt` ckjol b lodjbxb|k`a |` |fkt occod|* tfbjj ho |xob|ol bt ba kabd|kso

momhox c`x |fo yuxy`to `c a`|kdo yoxk`l `c 2? lb{t!8!Ka xojb|k`a |` bd|kso momhox &kadjulkag |f`to wf`

bxo momhoxt `c |foDjobxkag F`uto+* |fo a`|kdo yoxk`l c`x kask|kag `heod|k`atdjbkmt cx`m |fomomhoxt

tfbjj ho ;9 lb{t bc|ox |fo kttuo `c a`|kdo!Yx`sklol |fb| ka |fo osoa| `c ba ualox|bnkag gksoa h{ |fo

kad`mkag momhox &`a |fo yxotdxkhol c`xmb|+ |` to||jo bjj |fo `heod|k`atdjbkmtjkbhkjk|kot `c |fo`u|g`kag

momhox* |fo H`bxl mb{ osoa hoc`xo ovykx{ `c |fo ;9 lb{t a`|kdo yoxk`l d`atklox bal bddoy| |fo

momhoxtfky byyjkdb|k`a!

A@\KDO YOXK@L C@X \XBATCOX @C MOMHOXTFKY

2!Ka xojb|k`a |` kabd|kso momhox* wf` fbt byyjkol c`x |xbatcox `c fktfox|fokx momhoxtfky> |fo a`|kdo

yoxk`l c`x |fo yuxy`to tfbjj ho 2? lb{t c`x kask|kag`heod|k`atdjbkmt bc|ox |fo kttuo `c a`|kdo!Yx`sklol

|fb| ba bd|kso momhox* wf` fbt hooa kabd|kso c`x b yoxk`l `c b| jobt|8 {obxt cx`m |fo lb|o `c ckjkag |fo

|xbatcox byyjkdb|k`aa`mkab|k`a bal* fbtbjt` ckjol b lodjbxb|k`a |` |fkt occod|* tfbjj ho |xob|ol bt ba

kabd|kso momhox c`x |fo yuxy`to `c a`|kdo yoxk`l `c 2? lb{t!

8!Ka xojb|k`a |` bd|kso momhox &kadjulkag |f`to wf` bxo momhoxt `c |foDjobxkag F`uto+* |fo a`|kdoyoxk`l c`x kask|kag `heod|k`atdjbkmt cx`m |fomomhoxt tfbjj ho ;9 lb{t bc|ox |fo kttuo `c

a`|kdo!Yx`sklol |fb| ka |fo osoa| `c ba ualox|bnkag gksoa h{ |fo kad`mkag momhox &`a |fo yxotdxkhol

c`xmb|+ |` to||jo bjj |fo `heod|k`atdjbkmtjkbhkjk|kot `c |fo`u|g`kag momhox* |fo H`bxl mb{ osoa hoc`xo

ovykx{ `c |fo ;9 lb{t a`|kdo yoxk`l d`atklox bal bddoy| |fo momhoxtfky byyjkdb|k`a!

A@D @C \FO DOA\XBJ LOY@TK\@X[ D@MYBA[ @C YBNKT\BA JKMK\OL

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Ka dbto |fo `u|g`kag momhox kt b ybx|kdkyba| `c Doa|xbj Loy`tk|`x{ D`myba{ `c Ybnkt|ba Jkmk|ol* fotfo

kt xorukxol ualox |fo Xogujb|k`at `c DLD |` a`|kc{ |fo DLDbh`u| fktfox byyjkdb|k`a mblo |` |fo

Ovdfbago c`x |xbatcox `c momhoxtfky bal tfbjjbjt` tuhmk| |` |fo Ovdfbago* A@D `c |fo DLD ka |fkt

hofbjc!

MBXNO\ KALKDOT

NTO hogba wk|f b ?9 tfbxot kalov! Bt |fo mbxno| gxow b xoyxotoa|b|kso kalov wbtaoolol! @a A`somhox

2* 2;;2 |fo NTO-299 wbt ka|x`ludol bal xombkat |` |fkt lb|o|fo m`t| goaoxbjj{ bddoy|ol mobtuxo `c

|fo Ovdfbago! \fo NTO-299 kt b dbyk|bjwokgf|ol kalov bal d`atkt|t `c 299 d`mybakot xoyxotoa|kag bh`u|

63 yoxdoa| `c mbxno| dbyk|bjkb|k`a `c |fo Ovdfbago!Ka 2;;? |fo aool wbt coj| c`x ba bjj tfbxo kalov |`

xod`ackxm |fo NTO-299 bal bjt` |` yx`sklo |fo hbtkt `c kalov |xblkag ka cu|uxo! @a Bugut| 8;* 2;;? |fo

NTO bjj tfbxokalov wbt d`at|xud|ol bal ka|x`ludol `a Toy|omhox 26* 2;;?!NTO fbt bjt` ka|x`ludol NTO-

49 Kalov wfkdf kt dbjdujb|ol utkag (Cxoo Cj`b| Mbxno|Dbyk|bjkb|k`a Mo|f`l`j`g{(! \fo yxkmbx{`heod|kso `c |fo NTO 49 Kalov kt |` fbso b hoadf mbxn h{ wfkdf |fo t|`dn yxkdo yoxc`xmbado dba ho

d`mybxol |` `sox b yoxk`l`c |kmo! Ka ybx|kdujbx* |fo NTO-49 Kalov kt lotkgaol |` yx`sklo kasot|`xt wk|f b

toato`c f`w jbxgo d`myba{'t tdxky't `c |fo Ybnkt|ba't oruk|{ mbxno| bxo yoxc`xmkag!

NTO 299 Kalov

Nbxbdfk T|`dn Ovdfbago 299 Kalov &NTO-299 Kalov+ kt bt|`dn kalovbd|kag bt b hoadfmbxn |` d`mybxo

yxkdot `a |foNbxbdfk T|`dn Ovdfbago&NTO+ `sox b yoxk`l `c |kmo! Ka lo|oxmkakag xoyxotoa|b|kso

d`mybkaot |` d`myu|o |fo kalov `a* d`mybakotwk|f |fo fkgfot|mbxno| dbyk|bjkb|k`abxo tojod|ol!

F`wosox* |` oatuxo cujj mbxno|xoyxotoa|b|k`a* |fo d`myba{ wk|f |fo fkgfot| mbxno| dbyk|bjkb|k`a cx`m

obdf tod|`x ktbjt` kadjulol!

Fkt|`x{ `c NTO 299 Kalov

\fo kalov wbt jbuadfol ka jb|o 2;;2 wk|f b hbto `c 2*999 y`ka|t! H{ 8992* k| fblgx`wa |` 2*779 y`ka|t!

H{ 899?* k| fbl tn{x`dno|ol |` ;*;6; y`ka|t! K| |foa xobdfol b yobn `c 28*86? ka Cohxubx{ 8997!NTO-299

kalov |`udfol |fo fkgfot| osox hoadfmbxn `c 2

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\foNbxbdfk T|`dn Ovdfbagofbt jbuadfol |fo NTO-49 Kalov wk|f hbto sbjuo `c 29*999 y`ka|t* c`xmbjj{

kmyjomoa|ol cx`m Cxklb{* Toy|omhox 2* 8993! \fo mbkacob|uxo `c |fkt kalov |fb| mbnot k| lkccoxoa|

cx`m `|fox kalkdot bxo5

NTO-49 kalov kt hbtol `aj{ `a |focxoo-cj`b|`c tfbxot* xb|fox |fba `a |fo hbtkt`c ybkl-uy dbyk|bj!

\fo `|fox kalkdot ka Nbxbdfk T|`dn Ovdfbago xoyxotoa|t |`|bj xo|uxa `c |fo mbxno|! \fb| kt* wfoa b

d`myba{ baa`uadot b lkskloal* |fo `|fox kalkdot b|NTO bxo a`| xoludolbleut|ol c`x |fb| bm`ua| `c

lkskloal &wfo|fox dbtf `x h`aut+!Wfoxobt* NTO-49 Kalov kt bleut|ol c`x lkskloalt bal xkgf| tfbxot!B|

|fo oal `c 24|f Euj{* 8997* NTO-49 Kalov fbt xobdfol k|t fkgfot| osox josoj `c 27*238!

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ka |fo kalut|xkbj dk|kot `c CbktbjbhblbalTkbjn`|c`x |xblkag! \fo Tkbjn`| hxbadf kt xocoxxol |` bt (Tkbjn`|

\xblkag Cj``x (!

Kmy`x|ba| Losoj`ymoa|t `sox |fo Ybt| [obxt

B aumhox `c tkgakckdba| kak|kb|ksot fbso hooa |bnoa |` kmyx`so |fo xogujb|`x{ xogkmobal |fo |xblkag

oaskx`amoa| c`x |fo hoaock| `c Kat|k|u|k`abj Kasot|`xt bt wojj bt jkt|old`mybakot! Bj|f`ugf |fo jkt| `c

tudf kak|kb|ksot kt ovfbut|kso* hoj`w t`mo `c |fotokadoa|ksot bxo |`udfol uy`a>

JTO wbt |fo ckxt| Ovdfbago ka |fo d`ua|x{ |` ualox|bno bu|`mb|k`a `c |xblkagb| |fo ovdfbagot ka

2;;

gj`hbjkb|k`a `c toduxk|kot |xblkag! \foOvdfbago kt cujj{ d`mmk||ol |` yx`sklkag b |xbatybxoa|*

occkdkoa|* cbkx balkasot|`x cxkoalj{ oaskx`amoa| c`x |fo hoaock| `c Kasot|`xt bal Kttuoxt! \fo

g`bjkt |` hxkag JTO uy |` ka|oxab|k`abj t|balbxlt ka `yoxb|k`abj* |odfakdbj*xogujb|`x{ bal rubjk|{

mbabgomoa| bxobt bal |` oatuxo |fb| a`| `aj{ l`mot|kd hu| bjt` c`xokga kasot|`xt bxo

b||xbd|ol!

JTO fbt mblo lkxod| kasot|moa| ka Ybnkt|ba Dxolk| Xb|kag Bgoad{ &Ys|+ J|l!&YBDXB+* Doa|xbj

Loy`tk|`x{ D`myba{ J|l! &DLD+* Ab|k`abj DjobxkagD`myba{ `c Ybnkt|ba J|l! &ADDYJ+* bal

Ab|k`abj D`mm`lk|{ Ovdfbago J|l!&ADOJ+* bjj `c wfkdf yjb{ b doa|xbj x`jo ka losoj`ykag |fo

kacxbt|xud|uxobx`ual |fo ckabadkbj mbxno|t `c Ybnkt|ba! Ka bllk|k`a* JTO kt ba bd|kso momhox `c

|fo Coloxb|k`a `c Oux`-Btkba T|`dn Ovdfbagot &COBT+ bal |fo T`u|f BtkbaColoxb|k`a `c

Ovdfbagot &TBCO+* fojykag |` ovybal k|t `u|xobdf* yxotoado bal yx`ckjo ho{`al |fo h`ualbxkot

`c Ybnkt|ba! JTO fbt mblo lkxod| kasot|moa| ka Ybnkt|ba Dxolk| Xb|kag Bgoad{ &Ys|+ J|l!&YBDXB+* Doa|xbj

Loy`tk|`x{ D`myba{ J|l! &DLD+* Ab|k`abj DjobxkagD`myba{ `c Ybnkt|ba J|l! &ADDYJ+* bal

Ab|k`abj D`mm`lk|{ Ovdfbago J|l!&ADOJ+* bjj `c wfkdf yjb{ b doa|xbj x`jo ka losoj`ykag |fo

kacxbt|xud|uxobx`ual |fo ckabadkbj mbxno|t `c Ybnkt|ba! Ka bllk|k`a* JTO kt ba bd|kso momhox `c

|fo Coloxb|k`a `c Oux`-Btkba T|`dn Ovdfbagot &COBT+ bal |fo T`u|f BtkbaColoxb|k`a `c

Ovdfbagot &TBCO+* fojykag |` ovybal k|t `u|xobdf* yxotoado bal yx`ckjo ho{`al |fo h`ualbxkot

`c Ybnkt|ba!

JTO wbt |fo ckxt| Ovdfbago ka Ybnkt|ba |` `ccox Ka|oxao| hbtol |xblkag |` k|tmomhoxt ka |fo {obx

8992! K| oabhjot |fo hx`noxt |` xobdf `u| |` |fo ua|byyolxo|bkj mbxno|t! Duxxoa|j{* m`xo |fba

?9/ `c |fo |`|bj |xblkag s`jumo b| |foJTO `xkgkab|ot cx`m Ka|oxao| |xblkag |oxmkabjt! \fo bkm `c

|fkt mobtuxo kt |`|xbatc`xm |fo JTO cx`m b xogk`abj |` b ab|k`abj yjb{ox `sox b yoxk`l `c |kmo!

JTO fbt kadxobtol k|t go`gxbyfkdbj `u|xobdf h{ ot|bhjktfkag k|t hxbadfot ka`|fox dk|kot `c |fo

Yx`skado! \w` tudf hxbadf `cckdot fbso hod`mo `yoxb|k`abjka Cbktbjbhbl bal Tkbjn`|! Tkmkjbx

@cckdot ka `|fox dk|kot bxo bjt` hokagd`a|omyjb|ol! JTOt |xblkag t{t|om fbt bjxobl{ hooa

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m`lkckol |` d`aaod| hxbadf `cckdot ka xobj-|kmo cbtfk`a! \foxo kt b gx`wkag aool c`x xom`|o

|xblkag|oxmkabjt xocjod|kag |fo d`ackloado `c |xbloxt ka |fo uto `c t|bhjo Ka|oxao|\xblkag

T{t|omt!

JTO fbt kmyx`sol |fo rubjk|{ `c `yoxb|k`at bal uygxblol |fom |` m`loxaka|oxab|k`abj

t|balbxlt! \fkt fbt kadjulol uygxblkag JTOt K\ kacxbt|xud|uxo*uylb|kag xogujb|k`at bal

yx`doluxot |` kad`xy`xb|o ovkt|kag bal ovyod|ol|odfa`j`gkdbj dfbagot* bt wojj bt xo`xgbakkag

bal xot|xud|uxkag |fow`xnc`xdo! Bt b xotuj|* JTOt dbybhkjk|kot bt h`|f b cx`a|-jkao xogujb|`x{

h`l{bal b toxskdo `xgbakb|k`a fbso hooa tkgakckdba|j{ oafbadol!

JTO fbt tuddottcujj{ jbuadfol _akruo Kloa|kckdb|k`a Aumhox &_KA+ T{t|omwk|f ba `heod|kso |`

hxkag m`xo occkdkoad{ bal |xbatybxoad{ |` |fo t|`dn hutkaott bal |` kmyx`so |fo tuxsokjjbado

bal m`ak|`xkag dbybdk|{ `c |foOvdfbago!

JTO fbt kmyjomoa|ol b xogujbx |kmo|bhjo c`x |fo Hx`nox T{t|om Bulk|* ka`xlox |` hukjl kasot|`xt

d`ackloado! Bjt`* JTO fbt |bnoa occod|kso xktn balovy`tuxo mbabgomoa| mobtuxot kadjulkag |fo

kmyjomoa|b|k`a `c b cujj{bu|`mb|ol ka-f`uto losoj`yol \xblo Xktn Ckj|ox &\XC+ |` occkdkoa|j{

m`ak|`x momhoxt yxo-|xblkag ovy`tuxot `a b xobj |kmo hbtkt! \fkt fbt hooa b ruba|umjoby c`x

JTO ka kmyx`skag k|t xktn mbabgomoa| t{t|omt

JTO \xbkakag Kat|k|u|o tyodkckdbjj{ lolkdb|ol |` |fo Dbyk|bj Mbxno|t* kt |fo ckxt|`c k|t nkal ka Ybnkt|ba bal

wbt ot|bhjktfol ka 8993! C`xmbj d`uxtot fbso hooaka|x`ludol |` yx`sklo |xbkaol fumba xot`uxdot c`x

|fo dbyk|bj mbxno|t! K| fbtbjt` jbuadfol b toxkot `c Oludb|k`a Yx`gxbmt wk|f b skow |` oludb|o |fohx`noxt* bgoa|t bal goaoxbj yuhjkd bh`u| |fo toduxk|kot mbxno| bal k|t jbwt! Kaba occ`x| |` yx`m`|o |fo

oludb|k`a tod|`x* ybx|kdujbxj{ ka xojb|k`a |` ckabadkbj mbxno|t* JTO kt yx`sklkag tdf`jbxtfkyt |` lotoxskag

t|uloa|t `c Jbf`xo _aksoxtk|{ `c Mbabgomoa| Tdkoadot &J_MT+! JTO oad`uxbgot uaksoxtk|kotbal d`jjogot

|` d`mo bal sktk| JTO!

Ka ba`|fox |xoal-to||kag ovbmyjo* Jbf`xo T|`dn Ovdfbago bal KtjbmbhblT|`dn Ovdfbago fbso e`kaol

fbalt |` ot|bhjktf b _akckol \xblkag Yjb|c`xmwfkdf wkjj fojy |` hxkag kadxobtol jkruklk|{ ka |fo mbxno|*

kmyx`so yxkdolktd`sox{* mbvkmko |xbatybxoad{* kadxobto |uxa`sox* hx`bloa kasot|`x hbto*dux|bkj xktnt

bal lkt|`x|k`at ka |xblo* yx`sklo d`t| occod|kso toxskdo |` |fokasot|kag yuhjkd bal oafbado |fo kmbgo `ch`|f |fo Ovdfbagot!

Bt ybx| `c tod`al goaoxb|k`a dbyk|bj mbxno| xoc`xmt hokag yuxtuol h{ |foToduxk|kot # Ovdfbago

D`mmkttk`a `c Ybnkt|ba* lomu|ubjkb|k`a kt hokagtoxk`utj{ d`atkloxol h{ |fo momhoxt `c |fo ovdfbagot

bal f`yocujj{ |fb|luxkag |fo {obx 8997 b lodktk`a wkjj ho |bnoa ka |fo hot| ka|oxot| `c |fo dbyk|bjmbxno|t

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`c |fo d`ua|x{! Lomu|ubjkb|k`a kt ka jkao wk|f ka|oxab|k`abj t|balbxlt*wfkdf wkjj oatuxo |fb| |fo

ovdfbago |xuj{ bal cbkxj{ xoyxotoa|t |fo ka|oxot|t `c bjj t|bnof`jloxt

4+ Ktjbmbhbl T|`dn Ovdfbago

Ktjbmbhbl T|`dn Ovdfbago `x KTO kt `ao bal {`uagot| `c |fo |fxoo t|`dn ovdfbagot `c Ybnkt|ba bal kt

j`db|ol ka |fo dbyk|bj `c Ktjbmbhbl! Ktjbmbhbl t|`dn ovdfbago &KTO+ wbt kad`xy`xb|ol bt b gubxba|oo

jkmk|ol d`myba{ `a 8? @d|`hox 2;6; ka Ktjbmbhbl dbyk|bj |oxxk|`x{ wk|f |fo mbka `heod| `c to||kag uy `c b

|xblkag bal to||jomoa| kacxbt|xud|uxo* kac`xmb|k`a t{t|om* tnkjjol xot`uxdot* bddottkhkjk|{ bal b cbkx bal

`xloxj{ mbxno| yjbdo |fb| xbant wk|f |fo hot| ka |fo w`xjl! K| wbt jkdoatol bt b t|`dn ovdfbago `a 7

Ebaubx{ 2;;8! C`x |fo ckxt| |kmo* k| t|bx|ol |xblkag ka Euj{ 2;;8!

\xblkag T{t|om

Kak|kbjj{ ba `u|dx{ mo|f`l `c |xblkag &b mo|f`l `c |xblkag |fb| utot soxhbj hklt bal `ccoxt ka |fo |xblkag

yk|t+ ka tfbxot wbt bl`y|ol wfkdf wbt xoyjbdol wk|f |fo bu|`mb|ol |xblkag t{t|om &b d`myu|oxkol

t{t|om c`x mb|dfkag `xloxt ka toduxk|kot+ d`mm`aj{ dbjjol KTO-D\T ka 2;;7! Ka |fo {obx 8998* KTOD\T

gbso wb{ |` _J\XB \XBLO |xblkag t{t|om wfkdf kt a`| `aj{ sox{ occkdkoa| hu| bjt` fbt ov|oalol

|xblkag dbybdk|{* ka|oxao| |xblkag cuad|k`abjk|{!

\fo d`myu|oxkol |xblkag t{t|om fbt hx`ugf| bh`u| mudf aoolol |xbatybxoad{ ka |fo toduxk|kot |xblkag!

K| fbt hooa lotkgaol ka tudf b wb{ |` yx`sklo bu|`mb|kd mb|dfkag `c hklt bal `ccoxt c`x ovodu|k`a

yuxy`to! Bjj `xloxt bxo |xob|ol ka t|xkd| yxkdo bal |kmo yxk`xk|{* |fut oatuxkag b yuxo bud|k`a mbxno| wfoxo

a` `xlox kt `soxj``nol `x |xblol |fx`ugf! Ka |fkt mbaaox* |fo hot| |xblo kt ovodu|ol bal ybttol `a |` |fo

ybx|kdkyba|t wk|f`u| fumba ka|oxcoxoado! Yxka|ol d`ackxmb|k`a bal t|b|ut mottbgot bxo kmmolkb|oj{

xodoksol h{ b momhox c`x obdf `c fkt `xlox!

Xom`|o \xblkag `x Ka|oxao| \xblkag fbt hooa kmyjomoa|ol ka KTO `a 84 Euao 8994! A`w Hx`noxt dba

|xblo cx`m ba{wfoxo ka |fo w`xjl utkag xom`|o |xblkag t`c|wbxo `c KTO wk|f |fo tbmo x`hut|aott bt

w`xnkag `a |fo JBA!

To||jomoa| T{t|om

Wfoa KTO wbt ot|bhjktfol \.7 to||jomoa| d{djo wbt utol c`x to||jomoa| `c tfbxot! \.4 wbt ka|x`ludol

ka 8992 wfkdf fbt hooa xoyjbdol h{ \.8 to||jomoa| d{djo ka Bugut| 8997 |` xoludo |fo `soxbjj to||jomoa|

xktn ka |fo mbxno|!

Momhoxt/Hx`noxt

Duxxoa|j{ Ktjbmbhbl T|`dn Ovdfbago fbt 289 momhoxt bgbkat| 899 bt bjj`wol |` |fo ovdfbago* ka |oxmt

`c Bx|kdjo 4&b+ `c Bx|kdjot `c Btt`dkb|k`a! @c 289 momhoxt* 83 bxo kalksklubj bal ;< bxo d`xy`xb|o

momhoxt!

Jkt|ol D`mybakot

\foxo bxo 832 d`mybakot jkt|ol ka Ktjbmbhbl T|`dn Ovdfbago b| |fo m`moa|! F`wosox* aumhox `c jkt|ol

d`mybakot sbxkot cx`m |kmo |` |kmo luo |` lojkt|kag* moxgoxt bal locbuj| `c d`mybakot!

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_akckol \xblkag T{t|om

Ktjbmbhbl T|`dn Ovdfbago e`kaol fbalt wk|f Jbf`xo T|`dn Ovdfbago `a 49 Byxkj 8997 |` ot|bhjktf b

_akckol \xblkag Yjb|c`xm |` fojy ka hxkagkag kadxobtol jkruklk|{ ka |fo mbxno|* kmyx`skagyxkdo lktd`sox{*

mbvkmkkag |xbatybxoad{* kadxobtkag |uxa`sox* hx`bloakag kasot|`x hbto* dux|bkjkag xktnt bal lkt|`x|k`at ka

|xblo* yx`sklkag d`t| occod|kso toxskdo |` |fo kasot|kag yuhjkd bal oafbadkag |fo kmbgo `c h`|f |foOvdfbagot!

Kalovot

@a 2 Ebaubx{ 899 b mbxgkakag t{t|om hbtol `a sbjuo b| xktn &SBX+ bal dbyk|bj blorubd{!

\fo SBX kt b t|b|o `c |fo bx| xktn mbabgomoa| t{t|om yxbd|kdol ka|oxab|k`abjj{ |fb| |bnot ka|` bdd`ua|

xktn btt`dkb|ol wk|f obdf tfbxo hbtol `a fkt|`xkdbj lb|b! T{t|om bulk| `c hx`noxt wbt ka|x`ludol ka 8994

bal mblo aodottbx{!

D`lo `c D`xy`xb|o G`soxabado

KTO kad`xy`xb|ol D`lo `c D`xy`xb|o G`soxabado ka k|t jkt|kag xogujb|k`at `a 8998 |` t|xoag|foa d`xy`xb|o

g`soxabado yxbd|kdot ka d`mybakot `c Ybnkt|ba! Ka `xlox |` kmyjomoa| b g``l d`xy`xb|o g`soxabado

yxbd|kdot ka t|`dn ovdfbagot `c Ybnkt|ba* KTO |``n |fo jobl |` ojod| b a`a-hx`nox Dfbkxmba c`x |fo {obx

8993! Ovdfbago H`bxl `c KTO wbt xot|xud|uxol ka 8994 bdd`xlkag |` wfkdf |fo H`bxl `c Lkxod|`xt

d`at|k|u|ol `c 29 momhoxt* `c wf`m ? bxo ojod|ol momhoxt `c |fo Ovdfbago* < bxo a`a-momhoxt

a`mkab|ol h{ TODY* bal ba kaloyoaloa| a`a-momhox Mbabgkag Lkxod|`x kt byy`ka|ol h{ skx|uo `c fkt

`cckdo!

KTO \`woxt

KTO ka|oalol |` d`at|xud| b fkgf-xkto t|xud|uxo ka `xlox |` d`yo wk|f |fo uy-d`mkag lombalt `c t|`dn

ovdfbago hutkaott! C`x |fkt yuxy`to* KTO hukjl aow hukjlkag wfkdf kt yx`yoxj{ lotkgaol utkag jb|ot|

|odfakruot |` wk|f t|bal bgbkat| ba{ ab|uxbj lktbt|oxt! \fo tbjkoa| cob|uxot `c |fkt hukjlkag bxo bt ualox5

KTO |`wox kt 88 t|`xo{ hukjlkag j`db|ol b| &yj`| a` 494?+ Ekaabf Bsoauo Hjuo Bxob Ktjbmbhbl wfkdf

mbnot k| |fo tod`al fkgfot| |`wox `c Ktjbmbhbl bc|ox d`at|xud|k`a `c \ojod`m \`woxt! Bxob d`soxol h{

|fo hukjlkag kt ?38*38; tr c| &?8*83;!; m8+* k| d`atkt|t `c |fxoo josojt `c hbtomoa|t bal gx`ual yjut 26

cj``xt bh`so! Hbtomoa|t fbso dbybdk|{ |` bdd`mm`lb|o |fxoo fualxol dbxt b| b |kmo> bjt` k| fbt b yjba|

x``m c`x jb|ot| FSBD t{t|om xorukxomoa|t! Gx`ual cj``x kt bjj`db|ol c`x moo|kag |fo xorukxomoa|t `c

hbant! Obdf cj``x kt yx`sklol wk|f &3 A`+ ybttoagox jkc|t* bdd`mybakol h{ `ao dbxg` jkc| bal |fxoo t|bkx

fbjjt! \fo doa|xbj d``jkag bal fob|kag t{t|om kt yx`sklol ka |fo hukjlkag bal k| kt bjt` orukyyol wk|f jb|ot|

http://en.wikipedia.org/wiki/Price_discoveryhttp://en.wikipedia.org/wiki/Price_discoveryhttp://en.wikipedia.org/wiki/Price_discoveryhttp://en.wikipedia.org/wiki/Price_discovery

7/31/2019 Stock Markets of Pakistan

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d`mmuakdb|k`a bal ojod|xkdbj t{t|omt! C`x b tbco w`xnkag oaskx`amoa|* yx`yoxj{ lotkgaol ckxo ckgf|kag

t{t|om kt yx`sklol bj`ag wk|f |fo omoxgoad{ ckxo ovkt|t! K| kt bjt` |fo ckxt| hukjlkag ka Ktjbmbhbl |` fbso

ba JDL tdxooa b||bdfol `a k|!

KTO \`woxt bxo lotkgaol h{ AOTYBN Ys|! J|l! bal |fo d`a|xbd|`xt woxo Fbhkh Xbckr Ys|! J|l! \fo

d`at|xud|k`a t|bx|ol ka obxj{ 8993 bal |fo \`woxt woxo d`myjo|ol ka Byxkj 899;! K| wbt kabuguxb|ol h{

Yxkmo Mkakt|ox T{ol [`utuc Xbb Gkjbak `a 42 Euj{ 899;!