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ICCI will host Capital Chambers Conference in Islamabad: ICCI President Zafar Bakhtawari

BUSINESS

Saturday, 2 February, 2013

LPG prices down by Rs 5 per kg

ISLAMABAD

T

Staff RePoRt

ISLAMABAD: Liquefied Petroleum Gas prices have been reduced by Rs 5 per kilogram on Friday. After decrease of Rs 5,000 per metric tonne, price of domestic cylinder has declined by Rs 60 and commercial cylinder by Rs 240. After the current decrease in the prices, LPG would be sold at Rs 140 per kg in Karachi and Rs 145 per kg in Lahore, Faisalabad, Sargodha, Gujranwala and Gujrat. The commodity would be sold at Rs 155 in Rawalpindi/ Islamabad and Rs 160 per kilogram in Gilgit-Baltistan and adjoining areas. NNI

PIA to achieve new heights: chairman

hE business communities of Pakistan and Romania have to play a vital role for the promotion of bilateral trade and greater mutual interaction is needed to achieve the ultimate objectives. Ambassador of Romania in Pakistan, Emilian Ion said while addressing business leaders at Islamabad Chamber of Commerce & Industry (ICCI). he exchanged views on common interests and agreed to strengthen bilateral trade relations between the two coun-

ploring new avenues of commercial and economic cooperation. he said that there is also need to strengthen the relation between the Chambers of Commerce of both the countries, so that in long-run the chambers could exchange information on economic and commercial matters and identify possible joint venture partners in their respective countries. Ion further said that Zafar Bakhtawari is very close friend of diplomatic community and expressed hope that he would help built relations with the diplomatic corps to enhance Pakistan’s trade and economic relations with countries around the globe. In his welcome address, Mr.Zafar Bakhtawari, President ICCI that he

Goods transporters strike to cripple exports: PTEA chairman FAISALABAD INP

KARACHI: PIA is on the path of recovery and InshaAllah will achieve new heights, PIA Chairman Lt General (r) Asif Yasin Malik said while addressing PIA employees on Friday. He said there will be no job cuts, rather salaries and pension will be increased in due course of time depending upon the financial health of the airline. He especially praised the engineers and technicians of PIA for their dedication and hard work. PIA is one of the few airlines of the World which has the ability to make use of its engineering and maintenance capabilities whereas most of airlines have outsourced this function. He informed PIA employees about the induction of A320 fuel efficient aircraft in PIA fleet with deliveries beginning in a couple of month’s time. These aircraft will help improve the airline’s flight Schedule, frequencies and performance, he said. Chairman PIA announced construction of three new hangers, two in Karachi and one in Lahore which will enhance the airline’s maintenance capabilities. He also assured of new induction of engineers and technicians to overcome the shortage of skilled human resource.S ta f f R e P o Rt

tries. Romanian ambassador underlined the historical tradition of the Pakistan Romania bilateral relations and expressed Romania’s wish of working together with the Pakistani partners, at all levels, in order to promote and consolidate the bilateral cooperation in the political, economic, trade, cultural and other fields. he said that Romania is the seventh largest European Union Market, adding that it would provide support to Pakistani entrepreneurs to get the benefit of exporting their products to the European Union countries. The Ambassador said that Pakistan-Romania Business Council was working as a bridge between business communities of both the countries for ex-

The goods transporters strike would completely halt the export activities besides damaging the industrial manufacturing capacity. Textile export orders worth billions of rupees feared to be lost. Talking to newsmen here Friday, Asghar Ali, chairman and Muhammad Asif, vice chairman Pakistan Textile Exporters Association (PTEA) warned that huge foreign orders would be cancelled due to the strike, this would not only result in huge losses to the exporters, but also to the national exchequer. The strike would cripple exports, which were the lifeline and backbone of the

country’s economy, he said and added that a large number of export shipments ready to be shipped as per the deadline given by the foreign buyers, could not reach the ports in time, resulting in the vessel sailing away without the consignment. If the strike prolongs further, this would lead to great loss to the exporters, fearing cancellation of vital orders, they warned. All textile chain was facing immense problems and economic activities came to a halt in export sector, they said adding that the goods transport carriers strike would cease business activities as the goods are not reaching the ports. Asghar Ali was of the view that textile industry is already facing unprecedented energy crisis, as there

LCCI hails govt decision to establish PLPA

was acute load shedding of electricity and there was complete shutdown of gas supply to industries in Punjab from last 60 days. Over 50 per cent production capacity has already become redundant and massive lay off was underway throughout Punjab, he said. Muhammad Asif said that goods transport carriers strike would not only hurt shipments of export consignments but would also disturb import business as importers would be forced to pay demurrages for not clearing their consignments from the ports. Furthermore, the strike also affects manufacturing activities as industrial units will not receive raw materials and fuel to run their mills, resulting in heavy financial loss.

Gleaming jewellery lures in Islamabad citizens ISLAMABAD: The third Islamabad Gem Exhibition featuring Pakistan’s minerals, precious gemstones and jewellery, remained the point of attraction for foreigners and residents of capital on Friday. Organised by Pakistan Gems and Jewellery Development Company (PGJDC), the three-day gem exhibition from Feb 1-3,is an effort to promote the local gems industry in order to support the

was involved with the diplomatic community since 30 years and it is very honorable for him to improve the image of Pakistan in the new capacity as President of ICCI. he also thanked Romanian Government for conferring him a honorary award and said that the this Award clearly shows that Romanian Government honoured Business community of Pakistan which is very encouraging for every Pakistani entrepreneur. The ICCI president also informed the Ambassador that ICCI have planned to host a meeting of all the Capital Chambers Conference in Islamabad with the aim to promote mutually beneficial relation between Pakistan and other countries.

economy of the country. Sparkling rare gemstones of Pakistan such as emerald, ruby and aquamarine, attracted Ambassadors and diplomats of several countries including China, Brazil, Japan, Oman, Russia, Czech Republic, and EU Ambassador. While the unique, gleaming jewellery sets attracted the elites of the city, especially women. Secretary Ministry of Production, Gul Muhammad Rindh inaugurated the exhibition. Staff RePoRt

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has hailed the government decision to establish Pakistan Land Port Authority (PLPA) and demand of the government to give proper representation to the private sector in the Authority. In a statement issued here, the LCCI former Vice President and Convener PakIndia trade Promotion Committee Aftab Ahmad Vohra said that the government deserves appreciation as the decision would help increase the volume of trade flows across land borders. He said that the private sector representation at Federal and Provincial levels would ensure implementation of decisions in letter and spirit therefore at least 50 per cent of the members should be taken from the private sector. The LCCI former official said that it is happy sign that the government has accepted the Lahore Chamber demand for establishment of such an authority at land borders in order transform our land ports into efficient facilitators of trade while simultaneously being responsive to security issues and smuggling, human.NNI


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Pakistan is committed to liberalizing trade with India but after removing local concerns: Commerce Minister Amin Fahim

BUSINESS Saturday, 2 February, 2013

PTCL extends partnership with DHA for provision of ICT services ISLAMABAD

P

Major Gainers COMPANY Exide (PAK) Millat Tractors Ltd. Atlas Battery Ltd. Philip Morris Pak. J.D.W.Sugar XD

OPEN 320.59 623.72 241.56 149.49 93.50

HIGH 336.61 646.00 253.50 156.96 98.17

LOW 330.00 630.00 241.90 156.96 91.30

CLOSE 336.61 636.96 253.25 156.96 98.00

CHANGE 16.02 13.24 11.69 7.47 4.50

TURNOVER 11,900 99,800 12,700 11,000 5,100

690.00 619.99 218.00 105.70 150.85

628.90 600.00 212.75 105.00 147.50

628.90 605.56 214.49 105.24 150.25

-33.10 -14.44 -2.94 -2.26 -2.00

1,000 450 4,100 8,000 5,500

18.00 8.17 14.29 23.60 7.59

16.85 7.97 13.80 22.66 7.30

17.90 7.99 14.13 22.85 7.34

0.85 -0.02 0.19 -0.49 -0.12

22,704,500 10,321,000 8,172,000 7,062,000 5,615,000

Major Losers

PReSS ReLeaSe

AkISTAn Telecommunication Company Limited (PTCL) has today inked an agreement with Defence housing Authority Islamabad (DhAI) to extend Information Communication Technology (ICT) services and infrastructure deployment in DhA Islamabad. This strategic partnership shall enable residents of DhA Islamabad to experience superior telecom services of PTCL including voice telephony, broadband internet and SmartTV as well as Pakistan’s fastest and most reliable Evo wireless broadband internet services. In addition, PTCL has already established a dedicated facility to further facilitate its customers by offering all the products and services of the company under one roof. Earlier, PTCL was providing telecom services in Phase I & II of DhA and now PTCL network and services are being extended to remaining sectors of DhA II, Islamabad. The MoU agreement was signed by Muhammad nasrullah, PTCL Senior Executive Vice President (SEVP) Business Zones and Brig. Sadullah Fatimi, Administrator Defence housing Authority Islamabad in the presence of Walid Irshaid, President and CEO PTCL. Tariq Salman, Chief Technical Officer (CTO) PTCL and other senior officials from PTCL and DhA were also present on the occasion.

B

Indus Dyeing Siemens Pakistan XD Pak.Int.Cont.SD SPOT Thal Limited Linde Pakistan

662.00 620.00 217.43 107.50 152.25

Volume Leaders Maple Leaf Cement Fauji Cement Byco Petroleum Sui North Gas Lotte PakPTA

17.05 8.01 13.94 23.34 7.46

Interbank Rates Walid Irshaid, PTCL President and CEO while speaking at the ceremony said. “Serving our customers at their door steps with complete bouquet of telecom services is a key component of PTCL business philosophy. We are delighted to extend our cooperation and partnership with Defence housing Authority (DhA). This strategic partnership is another step towards improving the life styles of our customers by providing them futuristic and diversified products and services.” Defence housing Authority Islamabad is developing master-planned residencies and communities with a focus on reliability and

value-addition and delivering world class amenities at highest international standards. “PTCL has provided continuous, uninterrupted and robust services to the residents of DhA previously and we are moving forward with the same spirit for future projects as well.” said Brig. Sadullah Fatimi, Administrator, DhA Islamabad. As the leader in delivering innovative telecom, information and entertainment solutions, PTCL provides wireline and wireless services from voice telephony to broadband internet, EVO wireless, video-conferencing and carrier services to consumers and businesses.

USD GBP JPY EURO

PKR 97.7459 PKR 154.5656 PKR 1.0593 PKR 133.6187

Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal

BUY

SELL

99.15 134.15 155.53 1.0625 97.93 12.53 26.80 26.30

99.85 135.90 157.52 1.0755 99.82 12.77 27.10 26.54

CORPORATE CORNER them with technical and vocational skills, 150 young women graduate equip enabling them not only to earn a livelihood for themselves but also become source of employment in Hashoo Foundation’s for others by way of establishing small businesses and enterprises of their own. PR Early Childhood Development programme MCB increases

Canada-Pakistan Business Council hosts lunch for SM Muneer

Former envoy to UK hosts dinner

employees salaries

RAWALPINDI: Hashoo Foundation (HF) organised a Graduation Ceremony for 150 women at the Pearl Continental Hotel, Rawalpindi. Iffat Jamil Program Unit Manager, Plan Pakistan and Mr. Ali Akbar Country Director, Hashoo Foundation were the chief guests at the ceremony. They distributed merit certificates and shields among trainees, trainers and stakeholders. The education and training system at Hashoo Foundation’s Human Development Resource Centers (HRDC) is renowned for its high quality hands-on training through reputed institutions, with a clear focus on initial vocational education for the youth. The Early Child Development (ECD) approach is based on the proven fact that young children respond best when caregivers use specific techniques designed to encourage and stimulate progress to the next level of development. The ultimate goal of HF`s ECD program is to improve young children’s capacity to develop and learn more effectively.. ECD is an integral part of HF’s Skills Development program, the primary focus of which is to develop employable skills through formal, vocational and on-the-job training, which prepares the trainees for the challenges of 21st century. Moreover, the Foundation also provides life skills and career-mentoring training modules as part of its holistic approach to the development of the trainess. At the event, Ms. Iffat Jamil Program Unit Manager Plan Pakistan distributed certificates and awards among young trainees of the Early Childhood Development Training Program. She highly appreciated the efforts and contributions made by Hashoo Foundation towards the empowerment of women through early childhood development program. Mr. Ali Akbar Country Director, Hashoo Foundation congratulated the trainees and their families on achieving this milestone and entering a new arena of development and growth. Mr. Ali Akbar highlighted that more than 45% of Pakistan’s population is comprised of youth from 18-36 years age it is our prime responsibility to

KARACHI: MCB Bank Ltd, the country’s largest bank, has raised the salaries for its permanent clerical staff and guards along with increase in various allowances keeping in view the surging cost of living in the country. A press release issued from the bank stated that the bank’s management maintained its commitment towards welfare of their staff members and their families and announced increase on the account of marriages, children scholarship, maternity charges and funeral expenses. MCB management and MCB Staff Union of Pakistan (CBA) signed today an agreement effective from January 1, 2013 for two years onwards after successful negotiation. Usman Hassan, Group Head Human Resources, on behalf of MCB Management and Riafat Khan Jadoon, President MCB Staff Union of Pakistan, signed the agreement in a ceremony held at Principal Office, Lahore in the presence of Imran Maqbool, President, MCB Bank Ltd. “The management decided to raise the salaries of the bank’s clerical staff and guards considering the present inflationary pressures and the increasing cost of living that resulted in hardship for all segments of society,” said Imran Maqbool, President, MCB Bank Ltd. “MCB Bank always thinks for its employees’ betterment and prosperity and I hope that they will get significant relief and keep on performing their duties honestly as a reciprocal gesture,” he added.Riafat Khan Jadoon, President MCB Staff Union of Pakistan (CBA) said that all MCB Bank employees are part of the success story of the bank and our prosperity lies with the growth and progress of the bank. Usman Hassan, Group Head Human Resources Management, thanked both the management and union representatives for their efforts and hoped that this team spirit would strengthen relationship between employees and employer. PR

The Canada Pakistan Business Council (CPBC) hosted a lunch in honour of SM Muneer on January 17 at the Richmond Hill Country Club. Mr. Muneer served as President of Federation of Pakistan Chamber of Commerce & Industry (FPCCI) and is currently the President of India-Pakistan Chamber of Commerce & Industry (IPCCI) and is Vice Chairman for the MCB Bank Limited of Pakistan. Mr. S M. Muneer has played a leading role in previous Trade Missions to Canada and the first ever single County exhibition in Canada. He has facilitated, received and hosted many trade missions from Canada to Pakistan. The meeting was attended by: the Honorable Senator Salma Attaullah-Jan; the Consul General of Pakistan, Mohammed Nafees Zakaria; MPP Dr. Shafiq Qaadri; the Canadian International Development Agency (CIDA) Director for Pakistan, Jacob Thoppil; President of the Mississauga Board of Trade, Sheldon Leiba; and CPBC Board members, advisors, special guests and media representatives. CPBC Chairman Bryon Wilfert and CPBC President Samir Dossal welcomed the guest of honor representing FPCCI, Mr. S.M. Muneer. In his remarks, Mr. Muneer said he would continue to extend full support and assistance to CPBC members during their visits to Pakistan for business. PR

KARACHI: Abdul Kader Jaffer, former Pakistan High Commissioner to UK, hosted a dinner at Jaffer House in honor of Sir William Blackburne, former senior justice High Court of UK and chairman Pakistan Society London. Seated from left to right: Sajid Zahid, Kamal Azfar, former Sindh governor, Syed Sharifuddin Pirzada, former minister for law, Justice Sir William Blackburne, Justice Shafiq Usmani and Abdul Kader Jaffer. Standing from left to right: Mirza Qamar Beg, former Chief Secretary Balochistan, Zafar Hilaly former Ambassador, Saidullah Khan Dehlavi, former ambassador, Aziz A. Munshi former Attorney General of Pakistan, Emran Husain, former Treasurer Pakistan Society London, Bashir Alimohammad Chairman Gul Ahmed Textile, Captain Habib Ahmed, Aziz Memon Chairman Kings Group, Mehboob Rawjee Chairman Metatex and Farooq Moin of PPI. PR

LAHORE: Mr Munir Jilani, chief editor Daily Paigham, presents a shield to Pakistan Today Editor Mr Arif Nizami to commemorate the golden jubilee of Daily Paigham, Faisalabad. Mr Javed Mehr Shamsi, chief editor Daily Kaleem Sukkur, was also present on the occasion. STAFF PHOTO


Profit E-paper 2nd February, 2013  

Profit E-paper 2nd February, 2013

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