PRO 03-09-2013_Layout 1 9/3/2013 1:07 AM Page 1
BUSINESS Tuesday, 3 September, 2013
First-ever National Procurement Strategy finalised ISLAMABAD: The first-ever National Procurement Strategy (NPS) has been finalized for approval to strengthen public procurement system at the federal and provincial levels and will be accorded approval on Tuesday. The Advisory Group on Public Procurement (AGPP) discussed in detail the NPS on Monday at a two-day meeting organized by Public Procurement Regulatory Authority (PPRA) in collaboration with Assessment and Strengthening Programme-Rural Support Programmes Network (ASP-RSPN). Managing Director, PPRA, Nazrat Bashir presided over the first day session, Deputy Chief Mission USAID Catherine Moore, representatives of PPRA Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashir, Gilgit-Baltistan and stakeholders also participating in the meeting. Nazrat said that the vision of the National Procurement Strategy to strengthen public procurement systems at the federal and provincial level and promote transparency at all levels. She said that it also facilitate national economic development through ensuring value for money in public procurement. Nazrat Bashir said that to develop a framework for public procurement achieves harmonization of procurement laws and procedures improve and update laws, rules and procedures and making use of technology to facilitate transparency and fairness. Director General, PPRA, Alam Zeb Khan said the AGPP will also consider procurement related degrees in the educational institutions of the country. He said that all the stake-holders and partners including four provinces, AJK and Gilgit Baltistan agreed on the National Procurement Strategy to develop framework for public procurement. All the concerned departments including Inter-Provincial Coordination Division, Industries and Production Division, Parliamentary Affair Division, Religious Affairs and Inter-Faith Harmony Division, Pakistan Engineering Council (PEC), Defence Production Division, Planning and Development Division, Defence Division, Sindh PPRA, government of Balochistan, AJK and Gilgit Baltistan has sent their recommendations to the Federal PPRA. APP
Pakistan urges D-8 countries to cooperate in energy sector AZIZ SAYS PAKISTAN IS IN PROCESS OF ORGANISING FIRST MEETING OF D-8 ENERGY FORUM IN ISLAMABAD ISLAMABAD
akistan on Monday pressed D-8 countries to evolve a mechanism of cooperation in the energy sector, as the energy crisis was becoming a daunting challenge. Pakistan also urged the organisation to initiate the phase of substantive cooperation by operationalising the agreements related to removing barriers in trade and business, particularly the Preferential trade agreement. While addressing the inaugural session of the 33rd session of the commissioners of Developing-8 Organisa-
tion, adviser to the Prime Minister on national security and Foreign affairs sartaj aziz said that suggested that the member countries can take initiatives in cooperation in capacity building, transfer of technology, transfer of capital and labour, energy and food security, islamic banking, and halal sector development. He also urged the organisation to initiate the phase of substantive cooperation by operationalising the agreements related to removing barriers in trade and business, particularly the Preferential trade agreement. Highlighting economic revival as a high priority of the Government, the adviser said that this was the reason that the decision to join the D-8 was taken by Prime Minister nawaz sharif over 15 years ago who attended the first historical summit of the organisation in istanbul in June 1997. the adviser proposed to the member countries to evolve a mechanism of cooperation in the energy sector, as the energy
crisis is becoming a daunting challenge. He informed that Pakistan was in the process of organising the first meeting of D-8 Energy Forum in islamabad. He suggested that the member countries can take initiatives in cooperation in capacity building, transfer of technology, transfer of capital & labour, energy and food security, islamic banking, and halal sector development. Later in a meeting with the D-8 secretary-General Dr seyed ali Mohammad Mousavi, the sdviser to the PM proposed ways to fast track the implementation of trade and visa agreements. He expressed the hope that the D-8 Preferential trade agreement will be implemented soon. the D-8 secretary-general thanked the adviser for organising the commission meeting and praised Pakistan’s active role in the D-8 activities. He assured support of his organization in expediting the implementation of D-8 agreements which envis-
INDIA MAY SHUT PETROL PUMPS AT NIGHT: MINISTER OIL MINISTRY WANTS TO CUT FUEL DEMAND BY 3 PERCENT NEW DELHI AgENcIEs India is considering closing fuel pumps at night as one of a number of "austerity measures" aimed at cutting its ballooning oil import bills, the oil minister said. Oil Minister Veerappa Moily said on Monday that details have not yet been finalised on the new measures expected to be introduced later this month. "We have not worked out the details, how the austerity measures or the conservation mission will have to be launched," Moily told NDTV news channel. But the minister said late Sunday that "shutting petrol pumps during (the) night is one of" the measures under discussion, according to the Press Trust of
Pakistan has various investment opportunities: PCCC
‘POL prices linked to Int’l market import prices’ ISLAMABAD: A spokesman of the of the Petroleum Ministry has clarified that the domestic sale prices of petroleum products are linked with actual international market import prices of petroleum products imported by PSO during the immediate preceding month. A press statement on Monday read in case of no imports, the domestic sale prices are worked out as per Import Parity Pricing formula based on monthly average international market (Arab Gulf) prices of petroleum products published in Platts Oilgram. The prices of petroleum products are deregulated and Oil Marketing Companies (OMCs)/Refineries have been authorized to fix and notify prices in accordance with the above GoP approved formula. OGRA monitors the prices notified by OMCs/refineries to ensure that the prices are as per formula and there is no overcharging. The ministry notifies the petroleum levy, if required, with the approval of Finance Division. ONLINE India (PTI) news agency. "We have not decided. It is just a proposal," Moily told PTI, adding that his ministry would launch austerity measures on September 16. India imports around 80 percent of its oil needs and the import bill has risen dramatically because of high global prices and a plunging rupee. The
age current intra-D-8 trade of Us$ 150 billion to increase to $500 billion by 2018. the D-8 Commissioners from member countries (Bangladesh, Egypt, indonesia, iran, Malaysia, nigeria, Pakistan and turkey) and D-8 secretary-General Dr. Mousavi are attending the two-day meeting.
oil ministry wants to cut fuel demand by three percent and save about $2.43 billion in foreign exchange outflows. News of the proposed measures emerged as the country's biggest refiner, Indian Oil Corporation, increased petrol prices by more than 3.5 percent, blaming the falling rupee for the hike.
KUALA LUMPUR: The Penang Chinese Chamber of Commerce (PCCC) sees various investment opportunities in Pakistan amid its huge population and untapped market. Its President Datuk Seri Choot Ewe Seng said Pakistan is an interesting market for PCCC members to tap into garments and textile, agriculture, food and ingredients as well as in the property sectors. "There are opportunities in Pakistan following the bilateral trade between Malaysia and Pakistan. We see rising opportunities amid its huge population of 190 million people and the new government promoting pro-business policies. "PCCC will encourage its members to invest in Pakistan's property market amid big shortage of houses. It is understood that there is a shortage of more than a million homes in Pakistan," he told reporters after receiving a courtesy call from Pakistan High Commissioner to Malaysia Shahid MG Kiani. Seng was also briefed on investment opportunities in Pakistan. Seng also said that doing business in Pakistan would be efficient and manageable amid the flight duration from Kuala Lumpur to Islamabad, the capital city of Pakistan is about five hours. INP
EVOLVING TELEVISION VIEWERSHIP SIDrA IDrEES ‘Smart Earning and Smart Spending’ is the slogan of the day, practiced by today’s smart customers. As customers become more street smart and choices become wider, companies offering these services have become savvier. This increased awareness has served as a kick-off for businesses worldwide, to come-up with more convenient products which offer more for less. This holds true for all segments across the consumer market from big to small, plastic to metal, electronic to chemical and beyond. This evolution in technology has also resulted in smarter television interactions, changing the way audiences experience content, from a one window interface to a more dynamic one-to -one interaction, and making available more vibrant and personalized content at one click. As the demand for rich multimedia content increases, the traditional TV service mechanism is finding it difficult to provide and cope with the changing needs of viewers. The gap is even wider in Pakistan, as until a few years ago, there was no alternative of traditional one way television services. This changed with the introduction of PTCL SmartTV, a digital interactive TV service, employing the IPTV (Internet Protocol TV) technology, which bridges the gap between the customers’ demand for quality content and the conventional material offered by cable networks. The service offers personalized, licensed content with the highest digital quality picture and plethora of channels.
Internationally digital TV service (IPTV) is rapidly taking over the traditional TV service. A constant increase in the number of IPTV subscribers at global level is an indication of this paradigm shift. According to a survey conducted by Global IPTV Market, the world IPTV subscribers would swell upto 100 million by 2014, signifying an increase of 24% when compared to the year 2011. Asia has also lined up with the global IPTV giants with IPTV subscribers growing each year. The growing popularity can be ascribed to evolving IPTV technology, which has made it possible to incorporate feedback into the traditionally one-way form of TV communication by combining video, audio, and data within the same signal, epitomizing the TV world. In a nutshell, digital television service brings a wide range of new multimedia options that enables users to browse digital content on topics of interest and personalize their viewing choices by merging traditional computer oriented features with TV experience.
Equipped with features like rewinding live programs and news through time shift technology, parental lock and digital quality Video on Demand (VOD), PTCL Smart TV allows customers to be more interactive and in complete control of their television experience. This personalization of access and control of content has empowered viewers in a way never previously imagined, unfolding a whole new world of internet-delivered content. The services come in ‘Triple-Play & Double-Play Packages’ which includes interactive television, broadband and voice telephony all through one line. Viewers who do not require broadband services can also avail this service through standalone package. Another extension of this interactive service is MyTv.com.pk, through which customers can access an unfathomable fun-world of entertainment and infotainment content including Pakistani dramas, kid’s programs as well as high demand licensed international movies on their PCs and Tablets. Customers in today’s world are free birds; where it
is not only difficult to hold them back but practically impossible to exercise control over them. Hence, the key to attract and retain the customers is to empower them by customizing the business products to meet their demand and this is what PTCL SmartTV has accomplished, by changing the very dynamics of content provisioning for viewers. ‘ Your TV, your family, your friends and TV shows of Your choice’ is the call of today’s interactive TV technology and SmartTV accomplishes this by bringing a crisper picture quality, more number of channels, on-demand content and integrating rich media, the internet and television platform to form a singleinterface entertainment and infotainment solution.
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BUSINESS B Tuesday, 3 September, 2013
Local, international odds keep equity, currency markets in red zone SBP SAYS PAKISTAN HAS REPAID $5.055 BILLION TO IMF SINCE JULY 2001
ECAP CHIEF TERMS HUGE IMF REPAYMENTS AS MAJOR DRAIN ON COUNTRY’S DOLLAR RESERVES
exchange reserves. “Of late the foreign exchange market has witnessed few jitters,” he told Pakistan today. shahid said, “Officially a country must hold at least $11 billion that could finance its two to three months imports bill.” the economist opines that even the fresh $6.6 billion iMF loan would not help the local currency be stable.” “the load of outflows is more. You need substantial foreign investment that comes with improved law and order and uninterrupted energy supplies,” the analyst said ECaP chief Bostan too termed huge iMF repayments as a major drain on the country’s dollar reserves, saying the rupee was under immense pressure due to heavy repayments. it was 26th of last month when islamabad dolled out $393 million to the international Monetary Fund (iMF) as 19th installment under the Fund’s 2008 half-paid $ 7.3 billion stand-By arrangement (sBa). the state Bank said Pakistan since July 2001 had repaid $5.055 billion to the international lender and is due to clear Rs 2.101 billion more by september 2015. also, the money exchanger said, while the banks’ six-month forward booking of the dollar at Rs 104 was maturing the market had no enough dollars available. “this too made the dollar appreciate,” he said. Outflows of the greenback from the stocks market and clouds of war hovering over syria and the consequent turmoil for international currencies were other negatives Bostan cited for the rupee’s weakness. “Gold prices (per ounce) also dropped to $1,200 from $1,400 on international market,” he said.
HE stock market whereas continued to witness bears dominating the benchmark index on Monday the money market too kept making history by seeing the interbank exchange rate closing higher than that of the open market. the rupee on the interbank market traded against dollar at Rs 104.87, just three paisas lower than what the money dealers said “lifetime high” of Rs 104.90. in a historic development, as the market sources put it, the rupee-dollar parity ranged between Rs 104.30 and Rs 104.75 on the open market. “For first time in history we are seeing the interbank rate going higher than open market for last one week,” viewed Malik Bostan, chairman Exchange Companies association of Pakistan (ECaP). “Rs104.90 was the lifetime high,” he added. asfar Bin shahid, a banking analyst, says, “it is something very odd that is happening.” seeing improved inflows of foreign investment as a lone remedy for Pakistan’s balance of payment woes, shahid said the country’s marginal dollar reserves caused the rupee record depreciation. according to the state Bank, up to august 23 the country’s foreign exchange reserves contracted to $10.390 billion, of which the state Bank held only $5.203 billion. sBP Governor Dr Yaseen anwar also tends to attribute the prevailing pressure on rupee to the mounting pressures on external sector stemming mainly from lack of financial inflows and slippages in the foreign
Major Gainers COMPANY Unilever Food Wyeth Pak Ltd Khyber Tobacco Service Ind.Ltd Glamour Textile
OPEN 5030.00 2931.42 227.12 311.17 206.81
HIGH 5050.00 3000.00 238.47 326.72 217.15
LOW 5050.00 2950.00 216.00 310.00 206.00
CLOSE CHANGE 5050.00 20.00 2950.00 18.58 237.68 10.56 321.64 10.47 217.15 10.34
TURNOVER 20 500 2,100 36,800 3,500
1740.00 964.99 359.00 591.00 249.00
1735.00 945.25 342.88 565.00 238.08
1735.17 964.99 346.88 571.07 238.08
-59.83 -30.00 -14.04 -12.59 -12.53
100 1,800 2,500 93,600 43,200
12.79 13.35 24.19 9.30 6.05
11.81 12.77 22.60 8.25 5.16
11.88 13.02 23.30 8.32 5.17
-0.75 -0.29 -0.02 -0.92 -0.99
21,045,000 15,997,000 15,890,500 10,520,000 9,916,000
Demutualised KSE finally gets CRO KARACHI: The Karachi Stock Exchange (KSE) has finally appointed Shafqat Ali as KSE chief regulatory officer (CRO) in line with the Corporatisation, Demutualisation and Integration Act 2012 that provides for segregation of the country’s largest bourse in terms of functions. Under the new regime, while Ali, former general manager of KSE risk management department, would look after regulatory affairs of the exchange, KSE Managing Director Nadeem Naqvi would be taking care of the commercial side. “With the appointment of CRO the regulation offices department is fully functional,” Naqvi told Pakistan Today. He said the segregation was aimed at reducing the costs, improving efficiency and bringing the bourse’s commercial side at par with international standards. Further, Naqvi said the segregation of KSE’s functions would need the management to restructure or rationalize many of the Exchange’s departments. For this to achieve, he said, the KSE management would have to rationalise various departments of the Exchange. “We have started with the IT department,” he added. This rationalisation, sources claimed, led to the termination of at least five officials from the IT department. Those shown the door include chief IT officer Abdullah Jan, Farooque Dewan Pota, Shabbier Shah, Fahim and Bilal. The managing director, however, said to achieve the desired results he needed fresh blood that was highly skilled thus efficient. “The induction of fresh blood is part of my plan,” he said. IsMAIL DILAWAR
STock markeT: the day was all negative for the sentiment-driven karachi stocks Exchange (ksE) where the ksE 100-share index shed 436.17 points or by 1.97 percent to close at 21,724.68 points compared to 22,160.85 points of Friday last week. “Pakistan stocks continued bearish trend amid institutional profit taking post major earning announcements,” said ashen Mehanti of arif Habib Corporation. the trading turnover contracted to 180 million from 185 million shares traded on previous day. Mehanti said factors like security unrest in the city, rising political uncertainty ahead of the federal cabinet’s tuesday’s meeting on the city’s law and order situation and growing fears on uncertainty over the central bank’s policy rate stance ahead of announcement due on september 13 played a catalyst role in bearish activity. “Limited foreign interest and regional uncertainty on
impact of syria military action affected the sentiments,” Mehanti said. Consolidation continued amid concerns for rising economic uncertainty, higher government debt and uncertain global stocks and commodities, said he. investCap analyst abdul azeem said during august ksE100 index shed 4.9 percent on the back of volatility witnessed in the international equities market. “such market decline is primarily due to the severe value wipe-off in the int'l equities amid Us expected attack on syria and the possible rippling effects on local equities i.e. anticipated foreign selloff in the local market,” he viewed. He said the rising trend in international oil prices and depreciating rupee whereas was likely to further fuel the backbreaking inflation in the country, the Us-allies attack on syria would be unfavorable for investors providing further impetus to negative sentiments in equities.
Colgate Palmolive 1795.00 Siemens Pakistan 994.99 National Foods 360.92 Attock Petroleum Ltd 583.66 Clariant PaK. 250.61
Volume Leaders B.O.Punjab Fauji Cement P.T.C.L.A XD Jah.Sidd. Co. P.I.A.C.(A)
12.63 13.31 23.32 9.24 6.16
Interbank Rates USD GBP JPY EURO
PKR 104.8726 PKR 163.3286 PKR 1.0559 PKR 138.6101
Forex UK Pound Sterling Euro US Dollar Australian Dollar Canadian Dollar China Yuan Japanese Yen Saudi Riyal UAE Dirham
BUY 162 137.4 104.75 93.5 99 16.5 1.052 27.75 28.4
SELL 162.25 138.65 105 93.5 99 16.75 1.065 28 28.65
SC orders auction of 3G Technology licence after fair appointments ISLAMABAD: The Supreme Court on Monday issued directions to auction 3G Technology licence with the order that the Pakistan Telecommunication Authority should be made active and productive by appointing honest officials while keeping in view the rules and regulations of the institution. Three-member bench of the court, led by Chief Justice Iftikhar Chaudhry, heard the case regarding auction of 3G technology licence when the petitioner’s counsel Wakil Ali Raza told the court the Lahore High Court already has issued an interim order in this case, issuing a direction to the PTA chairman for appointments on merit. Upon this, the chief justice remarked that the institution is facing loss of billion of rupees due to its inactivity and criminal negligence. He observed that transparent auction is possible only when the PTA performs on sound footings. The deputy attorney general told the court that the matter of appointments is pending in the Lahore High Court. Justice Azmat Saeed Shaikh said that the appointments of Chairman and PTA members should be transparent. The SC ordered to appoint honest employees within 15 days and then auction 3G technology licence. INP
CORPORATE CORNER United Mobile announces Participants explore Iqbal’s message in workshop held at IIUI its own brand ‘VOICE’ KARACHI: Interestingly, United Mobile has worked with all leading global brands and has helped them to grow exponentially in Pakistan. Considering the demand of Pakistani customers and the rapid growth in the telecommunications sector, United Mobile has finally come up with its own line of high quality, high performance and reasonably priced smart phone devices for its valued customers. United Mobile believes in quality customer care and warranty support which is exactly why it has the largest distribution and customer care network in Pakistan. With 14 years of experience in the Pakistani market and 32 customer care centers all across Pakistan, UM is fully confident in penetrating every household in Pakistan. With the launch of its own brand ‘Voice’, United Mobile plans to not only target the smart phone users through its ‘Xtreme’ series but also the masses in its upcoming ‘Xtra’ feature phone series. Xtreme is the smart phone series powered with quad core to dual core processors. These are high end products made for the tech-savvy and contentcraved individuals. While the Xtra feature phones are made for masses who give significance to durability, high quality performance and quality design. PREss RELEAsE
ISLAMABAD: Rector International Islamic University Islamabad (IIUI) Dr. Masoom Yasinzai has said that Allama Iqbal was not only an intellectual; he was a worthwhile philosopher and enthusiastic champion of Islamic universalism, our affection for him will remain shallow unless we understand his message, put aside our differences and stand united for progress of the country. He expressed these views being a chief guest at concluding ceremony of a three-day workshop on “Towards Understanding Iqbal in 21st Century” organised by Iqbal International Institute for Research and Dialogue (IIIRD) of International Islamic University Islamabad (IIUI). Acting President Dr. Mumtaz Ahmed and Director Coordination IIIRD Dr. Talib Hussain Sial and resource person of the workshop Khurram Ali Shafique also joined the concluding ceremony. Urdu language teachers of the Islamabad model colleges participated in three day workshop. Dr. Masoom Yasinzai while appreciating the role of IIIRD urged the organisers to hold another workshop of same nature, invite scholars and teachers across the country. He stressed on the participant teachers to be devoted to their profession while saying that nations
cannot be built without good teachers. “Societies with racism and sectarianism face decline, we would have to ignore our personal differences and introduce our students with true message of Iqbal” he said. Rector IIUI added that teachers can give a new life to the nation, they are the real builders, they should first study and understand the core message of Iqbal and disseminate it to students and to the society at large. He lauded the efforts of Dr Mumtaz Ahmed and Dr. Talib Hussain Sial for conducting such an important and valuable workshop on Iqbal. PREss RELEAsE
OGDCL saves $2.5b in petroleum products’ impost
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) after completion of its six development projects shall produce 13000 barrels per day of crude oil, 360 mmcfd Gas and 750 metric tons per day of LPG resulting into saving $ 2.5 billion per annum in term of import of Petroleum Products. It will naturally move Pakistani Government earn Rs. 37 billion as GST and Royalty. These statistics were shown during a briefing by the OGDCL to the media. MD/CEO OGDCL, Mr. Muhammad Riaz Khan on the occasion, told media that OGDCL has not been able to show its achievements during the last few years
because OGDCL is purely an R&D organization and its experts and technocrats have media shy for projection of their achievements. He said that OGDCL during the last five years has worked excellently which has not only resulted into raising the company's revenue but the company's shares market has also grown up to higher levels too. The shareholders have won substantial raise. He also introduced the media team of OGDCL with the mass media journalists. He expressed hope that the new media policy will bridge the gap between OGDCL and the mass media. He further said that being the country's largest oil and gas exploration and production company, the OGDCL will strive to make Pakistan free from the energy crisis by exploring new resources during the years to come. He further highlighted that presently, the OGDCL state-of-the-art technical equipments and experienced and trained human resource. Incorporates can make the oil and gas exploration in Pakistan run at a faster pace. PREss RELEAsE
KARACHI: Former chairman Travel Agent Association of Pakistan (TAAP) Yahya Polani presenting a memento to the General Manager, TCL Pakistan Ltd, Sunny Yang. Also seen on the occasion are Branch Manager Yousuf Latif and Majid Niazi. PR