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Symphony of destruction Cash-strapped government eyes over Rs1tn bank loans during Q4FY12 as SBP keeps pumping billions in system g Non productive activities (read running the govt) sucking up banking liquidity
ith little or no cash available for the growth-oriented private sector, the resourceconstrained but highly paying federal government would be borrowing over Rs 1 trillion from the risk-averse banks during the fourth and last quarter of current fiscal year. the central bank reported Monday that the government had set Rs 1.085 trillion target for its budgetary borrowings from the scheduled banks during April-June FY12. the just-concluded third quarter, JanuaryMarch, had seen the State Bank auctioning the heavily-weighted government papers to the tune of Rs 777 billion to cater the cash-strapped government’s ever– increasing budgetary needs According to the central bank’s preannounced auction calendar, issued Monday, during last quarter the fundsstarved government would be borrowing Rs 995 billion, Rs 50 billion and Rs 40 billion from the banks, respectively,
through the sale of Government of Pakistan Market treasury Bills (MtBs), Pakistan investment Bonds (PiBs) and ijara Sukuk. the economic observers call it a sort of cyclical debt as the central bank, on one hand, is raising billions of rupees from the banks for the government and injecting mammoth liquidity into the system on the other. First day of the week, Monday, saw the regulator injecting a huge sum of Rs 242.500 billion into the system where, the SBP believes, many of the small banks would fail if it stopped pumping cash on weekly basis. the amount was injected at 11.55 percent rate of return through reverse repo open market operation. Of the total Rs 1.085 trillion targeted amount, Rs 30.668 billion and Rs 11.382 billion would be raised as an additional requirement of the government. During the period under review, the central bank would be conducting seven auctions to be conducted on 4th and 18th of April, 2nd, 16th and 30th of May and 13th and 27th of June, respectively.
On the auction dates the government has targeted to raise Rs 160 billion, Rs 200 billion, Rs 180 billion, Rs 110 billion, Rs 140 billion, Rs 120 billion, and Rs 85 billion, respectively. An additional amount of Rs 30.668 billion includes the total money to be borrowed through t-bills auction. the auctions for selling Rs 50 billion islamic bonds, called ijara Sukuk in Shariah-compliant banking, would be conducted on April 23 and June 20 to raise Rs 25 billion in each auction. “(the) maximum value of the asset under the present issuance program of the ijara Sukuk is Rs 126.21 billion,” said the State Bank. Whereas the Rs 40 billion targeted against the sale of -3, 5-, 10-, and 20-year PiBs would be raised in two auctions on April 25 and May 23. Rs 20 billion is the amount rounded off target. Also, Rs 11.382 would be raised additionally of the total Rs 40 billion. the coupon rates for 3-, 5-, 10- and 20year bonds has been set at 11.25, 11.50, 12.00 and 13.00 percent, respectively. the economic observers are concerned as the cash-strapped governments, both in the center and provinces, are relying almost totally on the banks for catering their ever-burgeoning budgetary requirements. While the banks; advances to the private borrower is depleting their investment in the risk-free government securities would be well above Rs 3 trillion by the end of this financial year, June FY12. the analysts concern is that much of the banking liquidity being sucked up by the cash-strapped government is being used for non-productive purpose: running of the government. this trend, they warn, would leave the private sector sans cash thus dealing fresh blow to the government’s growth targets for FY12.
LCCI’s MFN jibe # 173 Says MFN status to India is a disaster waiting to happen unless NTBs are removed g Claims core issues render trade realisation futile g
he Lahore Chamber of Commerce and industry Monday made it clear that MFN Status to india would be of little benefit to Pakistan unless and until all Pakistan-specific NtBs are removed and the core issues are addressed. this was stated by the LCCi President irfan Qaiser Sheikh while talking to a panel of experts including former Finance Minister Shahid Javaid Burki,
former foreign Secretary tasnim Noorani and Dr Ayesha Ghous Pasha. LCCi Vice President Saeeda Nazar, former Senior Vice President Yaqoob tahir izhar, former Vice President Aftab Ahmab Vohra, executive Committee Member Ahmad husnain, Vice Chairman PiAF Nadir Kamal Usman and former executive Committee Member Amjid Ali Jawa also spoke on the occasion and gave their point of view on this issue of national importance. irfan Qaiser Sheikh said given the size of the two economies and trade level,
indian firms are likely to gain much more than Pakistani businesses. this is simply about export competitiveness and level of readiness to participate in international markets. this is where india has advantage over Pakistan. the LCCi President said that in the presence of core issues between the two countries and multiple NtBs imposed by india, the desired results from opening up trade cannot be fully realized. this is a very serious challenge for both the countries moving forward. irfan Qaiser Sheikh said there are nu-
merous conditions, Pakistani exporters have to meet in order to get the shipments cleared which include agriculture permits, indian standard of quality, licensing requirement for import of vehicles, textile specific barriers, health and safety regulations and many more. the LCCi President said that complain of rigid application of Sanitary and Phytosanitary in india concerning food exports as well as compliance with labeling, testing and certification. it is believed that most of these restrictions and requirements are Pakistan-specific whereas we give much farer treatment to indian exporters. it appears that for Pakistani exporters, the compliance with export documentation, procedures and standards is made very cumbersome and various complications are fabricated during transit and at clearance stage. Pakistani companies exporting to india have often raised concerns over time consuming and excessively bureaucratic nature of
eiJiNG’S recent choice of avoiding US pressure and stepping away from the iran pipeline notwithstanding, its relationship with Pakistan is unique indeed, primarily because the political equation has been made to revolve around long term development arrangements. those familiar with the six-decade long relationship were neither surprised by islamabad’s silence at the pullout nor by the pleasantness at Boao, where the two sides committed to raising bilateral trade to $15 billion. truth be told, China is a far more valuable resource for Pakistan than the other way around. the Chinese embrace of Pakistan comes not just from the latter’s role long ago as a facilitator in engagement with the west. their’s hasn’t been a culture that celebrates sentiment for some time now. they realise well Pakistan’s geostrategic significance (hence the bridge-chapter), more so now than ever, when the most potent threat of the 21st century will either stem from or be contained by it. Apart from China, the PM’s engagement with delegations from iran and Kazakhstan were particularly instructive. the iran pipeline is definitely on, which means further engagement in energy projects should follow. But the offer of access to short sea routes to Kazakhstan will gain a vital reciprocal foothold in central Asia, which must partner with Pakistan on more than just an economic level to counter the challenges ahead. the menace of terror has already declared both a common enemy, with signs that their theatre of war will spread further across the continent. in sum, while the government’s performance on the home front finds little praise, its position on South Asia seems far sighted and to Pakistan’s benefit. the Chinese factor is by far the most crucial. even as it let discretion be the better part of valor in the iran pipeline specific faceoff with America, it is ever ready to help friends in time of need, no matter how tall the opposition. We must build on our unique relationship with China.
examination, appraisal, assessment and evaluation at indian Custom ports but no attention has been paid to that except promises. irfan Qaiser Sheikh said that it is the need of the hour that indian business community should actively and effectively lobby their government to expeditiously alleviate fears of Pakistani business that many NtBs on the indian side are Pakistan-specific. A comprehensive review exercise of all perceived and real NtBs should be conducted with the private sector of both sides in the driving seat. Likewise both governments have a clear role in harmonizing their respective customs procedures and simplify compliance with safety and quarantine standards. in this regard, both governments need to work together to establish a modern infrastructure of special quarantine centres and testing labs for compliance with safety standards at all border crossing points.
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Tuesday, 03 April, 2012
A March to
Remember KARACHI STAFF REPORT
t seems as if there is nothing as exciting as equities these days, since the dramatic change of the investor’s sentiment took place after the finance ministry’s nod to the SeCP proposals relating to the Capital Gains tax reforms. Pakistani equities, with seemingly no breather, set the volume numbers rolling with rapidly-changing ticker colors on the trading terminal screen providing an eye-catching sight, said a report issued by investCap Research Monday. “Market simmered with high liquidity levels during Mar-12 as all the participants’ heads were apparently sunk into exchanging more and more number of stocks which were on the go,” viewed Khurram Schehzad, the head of research at investCap. in Mar-12 alone, he said, KSe100 yielded 6.8 percent (6.1 percent in USD terms), where equities continued staying supercharged as the average trading volumes of the month stood up 26 percent MoM and a solid 42 percent YoY, to $77.9 million while hitting multi-year highs in terms of share volumes. he said even the verbal resolve on CGt-concerning issues did the trick, which was yet to be endorsed by the President through the promulgation of the Presidential Ordinance that is to be added as the 8th Schedule to the income tax Ordinance 2001). in this regard, Schehzad said, the delay was already announced (implementation now was pushed to mid Apr-12 instead of Apr 1st’12) buying frenzy in equities continued, may be partly due to the period ending to show better quarter closings by the institutional investors. “the CGt-related proposals bore fruits in the form of the return of foreign investors to Pak equities and
more participation of the retail and/or individual investors (as volumes were more tilted towards second and third-tier stocks who traded with low denominations),” said he. the Pakistani equities kept headed northwards despite country’s lingering macros chained with the on-going noise on the political canvas and yet-to-recover relations with the U.S. Further, better-thanexpected corporate results could not make it at a better time than this, extending investor’s joy further setting aside rising oil and cement prices that in fact benefited index heavyweight companies. Cumulatively, KSe100’s 1QCY12 (Jan-Mar12) return went through the roof with a whopping 21.3 percent (~20 percent in USD terms). encouragingly, Schehzad said, with the persistently climbing index, Pakistan equities topped the Asia Pacific slot with eye-widening outperformance during Mar-12. in global perspective, Pak equities not only stood above Asia Pacific’s average returns but also global averages in Mar-12 with many an emerging market ending the month in the red including the MSCi emerging Market index. Moreover, not only did KSe100 substantially outperform its benchmark MSCi Frontier Market index (1 percent in Mar-12) with a fat margin, but also the emerging Markets (-3 percent in Mar-12) as well as MSCi Developed (1 percent in Mar-12) and World Market index (0.1 percent in Mar-12). in addition, Jan-Mar12 quarterly returns also put Pak equities amongst the top-notch equities market slot in the Aisa Pacific region. in the same vain, foreign flows strengthened further as Pak equities gained further traction in the Asia Pac region with enriching liquidity and persistent capital appreciation. in this regard, net inflows stood at USD17.9mn in Mar-12 alone (excl.
Pakistan equities top regional stocks in March off-market outflow of USD9.5mn on the last trading day that resulted in net inflows of USD8.4mn in Mar-12) piling up the net YtD inflows to USD26.3mn (USD16.8mn including the one-off), against a whopping USD5.1bn of inflows into the region during Mar-12, taking total inflows to USD27.9bn YtD (USD14.3bn of outflows in 2011). the report shows significant returns provided by a mix of cements (DGKC, FCCL, LUCK), 2nd and 3rdtier banks (FABL, BAFL, AKBL), and gas distribution (SNGP, SSGC), were the most-yielding stocks amongst investCap Sample companies that outperformed the index during the review month. Only a handful of bluechip banks, including MCB, ABL, UBL, and textiles (NML) with few other sectors like Autos (PSMC) and insurance (AiCL) were having the stocks that outweighed benchmark KSe100’s returns in Mar-12. Amongst the top-5 scrips, FABL topped the list providing a substantial 37 percent MoM return in a single month. this was followed by AKBL (33 percent MoM), DGKC (30 percent MoM), FCCL (27 percent MoM) and BAFL (18 percent MoM). On a relative basis, except for Cements, no heavyweight bluechip scrips could even catch up to the KSe100’s performance in Mar-12. On the other hand, while FFBL performed the worse amongst investCap Sample companies in Mar-12 as well as in 1QCY12, eNGRO provided best returns at 39 percent on a QoQ basis, followed by FFC (25 percent QoQ) and NBP (22 percent QoQ). “Once again, continuity of the ongoing rally is largely contingent to the materialization of the said Ordinance with respect to the new CGt regime while any stretch from Apr’12 may start cascading negative impacts on both volumes and returns,” the analyst warned.
Reduction in hydropower generation and oil supplies resulting in outages
SAdIA ZAfAR BAIg
he recent wave of load shedding has crippled the routine lives. Once again people associated with power sector generally and PePCO particularly came under severe criticism. there is no doubt that the duration of load shedding remained very high and every sector of our country suffered badly. A lot of criticism came from media and opposition parties and once again Pakistan electric Power Company (PePCO) was given every bad name. No wonder, PePCO is responsible for managing power needs of the country but one should keep in mind that the company has limited resources as compare to the surging power demand. in these days, everyone criticized PePCO and hold protests against outages but nobody tried to investigate the reason behind the load shedding and just open its guns towards PePCO. i am not defending the PePCO or outages but would like to share some facts and figures with the readers and consumers so that they could understand the problems being faced during last one month and decide what best could have done. in the recent one month, the production from hydel resources declined sharply and there was at least 65 percent less electricity produced from these resources while at the same time the supplies of oil and gas were disturbed badly. in the current year the load shedding remained far high as compare to similar period in previous year. the same PePCO was operating even at that time. the only difference was the available resources. the duration of load shedding in March 2011 was far less than current year. Last year in March only two to three hours of load shedding was carried and things were moving smoothly. the reason of this difference is hydel generation, which decreased sharply this year. Currently,
we are facing more than 5,000MW shortfall. the electricity shortfall in March 2011 hydel generation contributed around 5,500MW; iPPs and GeNCOs produced 7,500MW thus there was around 13,000MW electricity was in the system and the demand remained around 14,500MW and shortfall around 1,500MW. But this year shortfall increased to 5,500MW with hydel generation remained not more than 2,500MW and iPPs and GeNCOs gave 7,000MW while demand remained more than 14,500MW. the hydel generation dropped and there was clear drop of 3,000MW. At the same time, the supplies of oil decreased to the power plants resulting in further drop in electricity generation. everyone knows that water level at Mangla and terbela dams is at dead level and it is due to late summer. the winter season remained long and continued till mid of March on the hilly areas and resolutely snow melted late and water level dropped in the dams. however, the water level will improve with water coming after snow melt. Unfortunately, some media sections tried to give an impression as if PePCO higher-ups are least bothered for the load shedding and people’s miseries. in fact, the reality is altogether different and the officials of the company tried their best to overcome the crisis and worked round the clock to overcome outages. the load shedding in the coming days would decrease, as hydel generation would improve while PePCO would also get oil supplies for power plants. On the instruction of Prime Minister the oil supplies have been improved to power plants and it is expected that Orient, Roche and Lal Pir power plants would start production thus giving 2,000MW electricity to the system. it is expected that shortfall would reduce and load shedding duration would also reduce. The writer works at NTDC/PEPCO.
PIAF reminds govt about the energy crisis LAHORE STAFF REPORT
AKiStAN industrial & traders Association Front (PiAF) has demanded of the government to take concrete measures to overcome the on-going energy crisis as the decisions in the energy conference like closure of government departments and banks for two days in a week would not help in filling the gap between demand and
supply of electricity. in a press statement issued here Monday, Chairman PiAF Sohail Lashari said that forthcoming energy Conference would also prove useless as like as previous ones. Government has to enhance the power generation to salvage the sinking trade and industry. he said in the decisions made in the previous energy conferences had swelled the woes of the business community as they suffered badly due to two holidays in the banks and government departments.
A word of advice from Samba-land SCCI president not a big fan of Brazilian Ambassador sheds light over enhancing trade with Pakistan soaring petroleum prices Tobacco trade volume to be increased for mutual benefit g g
SIALKOT PESHAWAR STAFF REPORT
RAziLiAN Ambassador to Pakistan Alfredo leoni said on Monday there was plenty of room for improvement in bilateral trade between the two countries. Leoni said he was not here just to promote the commercial relations between Pakistan and Brazil, but also to send a clear message that the embassy was here to help you in doing business with Brazil or traveling to Brazil, a rising power in the world. the ambassador was addressing executive members of Khyber Pakhtunkhwa Chamber of Commerce and industry (KPCCi). he said Brazil is the largest commercial partner of Pakistan in Latin America. Leoni said one positive thing is that Pakistan’s export to Brazil reached almost by 80 percent during 2009 to 2011i.e from $44 million to $80 million. he said major Brazilian exports to Pakistan included
cotton, plastic, iron and steel and major Brazilian imports from Pakistan included textile items, surgical items, soccer balls etc. the ambassador said Brazil had become a major international player and this was the reason Brazil contributed $1.55 million in cash to the flood victims in Pakistan during the past two years. Leoni said Brazil government had offered 5-year multiple visa facility to Pakistan business community and the Pakistan government had given a positive response. he said customs clearance issues between the two sides could be mutually settled to facilitate traders.Leoni said Brazilian government was working with the Pakistan government in technical cooperation. he said Pakistan business community should project Pakistan in a positive manner to promote business between the two sides. he said Brazil is the 8th biggest consumer market, adding businessmen should visit the embassy website to register and
become a member of the biggest database available in Brazil involving global trading companies, market studies, information on fairs and trade offers. earlier, welcoming the guest, KPCCi President Afan Aziz said Brazilian embassy in islamabad was issuing visas to Pakistani business for a period of 1-2 months, suggesting the embassy give businessmen 5-year multiple visas to facilitate them. Aziz requested the Brazilian customs to relax procedure to allow Pakistani small traders to carry samples to Brazil. he said Brazil is one of the major countries in tobacco production and trade. Aziz said Brazil was also importing tobacco from Pakistan. he said tobacco trade volume could be enhanced for mutual benefit. Aziz said Brazil could also help Pakistan in energy sector particularly hydropower. he suggested bilateral ties between the two sides be enhanced. he assured the ambassador of chamber’s support in all fields.
ReSiDeNt Sialkot Chamber of Commerce and industry (SCCi) Naeem Anwar Qureshi has strongly criticized the decision of the government to increase petroleum prices by about 8 to 9 percent , the second highest increase in the country’s history and stressed that the price increase must be withdrawn immediately. the increase in petroleum prices would add to the rising inflation and the cost of industrial production that is already under pressure because of higher electricity and gas charges. in a press release issued here today, SCCi President said that in case the petroleum prices rise in the international market, the government should itself absorb maximum impact by reducing taxes and duties to maintain the petroleum price at the minimum level. expressing great concern, the SCCi Chief narrated that the people are already pushed to the wall unable to bear the brunt of sky high oil prices. it is a killing blow but could be avoided if the government passes its profit to the people by decreasing levies on petroleum products. he said that the only beneficiaries are oil marketing companies whose profit margins would increase by making life miserable for the general public. this is being done at the cost of business, trade and the people. he feared that not only the transportation cost of goods would increase but fares of public transport would also increase
manifold. the increase is immensely detrimental for business and industry as production price would go up and exports would suffer badly. he said that there is immense unrest among the people leading them towards protests and agitation, which must not be allowed to happen the only option being withdrawal of petroleum prices. Naeem Anwar Qureshi said that the petroleum prices are being increased every month to add to the miseries of every citizen of Pakistan. Power is not available and industry is hard pressed to use oil to run generators during long power layoffs. the President of Sialkot Chamber wondered what option has been left for the industry to produce, especially the export goods, which have to be sent to foreign customers as per predetermined delivery time. he said that the ultimate effect of this draconic decision would be closure of industry, which will lead to flight of capital, massive unemployment and decline in the revenue of government. he said that it is time that the government should extend best support to the business and industry rather than to keep on raising petroleum prices, making life difficult for the people of Pakistan. he urged the Government to immediately withdraw increase in the prices of petroleum products to provide relief to the people, to enable the industrial wheel to move, and allow trade and business to sustain. he said that the business and industry is united and firmly stands with the people to do whatever possible to force the authorities to withdraw the thunderbolt rise in petroleum price.
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he traders and industrialists in country’s this commercial hub Monday declared the recent hike in petroleum and CNG prices as a most unjustified move by the present government demanding its immediate withdrawal. Patron in-Chief, Korangi Association of trade and industry (KAti), S M Muneer, Chairman, ehtesham Uddin, Vice Chairmen, hasham A Razzak, tariq Malik and President, All Karachi industrial Alliance (AKiA) Mian zahid hussain while rejecting the massive increase and slapping surcharge on CNG said the government’s decision was just to further squeeze the poor people of country besides crippling the trade and industry. they said that petroleum prices were already at the highest level and any further increase would prove the last straw that breaks the camel’s back. the KAti chairman said a comparison between the international oil prices and local prices is enough to make the point that the local prices have registered more than 50 per cent increase in the last two years in comparison with the global rates. therefore, he said, that the government has no justification to make any increase in POL prices. Mian zahid said that the increase would hit all sectors of the economy that would jack up the inflation and resultant hike in mark-up rates and disturb the entire economic cycle. he said that to
Traders, industrialists not particularly amused by oil price hike
keep the economic cycle well on track, the government would have to shelve the decision to increase oil prices.
he said that instead of passing on any surge in international market to masses, the government should cut the number of taxes on petroleum products as the fuel is the engine of growth. if the fuel would be heavily taxed the entire economy would suffer and the same happened in Pakistan as the repeated increases in the POL prices had ruined the industrial and economic activities. he said that only because of high cost of doing business in Pakistan, a large number of industrial units had already shifted their operations to other countries and the recent decision would force more industrialists to follow the suit. the KAti chief said that the entire industrial sector was already facing multiple internal and external challenges and any new increase in POL prices would further aggravate the economic situation. Pakistan agriculture sector is engine of growth. the increase in petroleum prices would increase the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery. he said that the cost of thermal generation by private sector to go up. “Not only the transportation cost of goods would multiply but fares of public transport would also increase manifold,” he added.
Major Gainers Company
UniLever Pak LtdXD Sapphire Fiber Pak.Int.ContXD SD Pak Suzuki Motor Jubilee Life In
5601.00 122.11 135.00 66.00 66.00
5784.00 128.21 141.75 69.30 69.30
5600.00 128.21 129.00 66.16 63.75
5676.80 128.21 140.13 69.30 69.00
75.80 201 6.10 15 5.13 25,987 3.30 116,352 3.00 15,045
Major Losers Rafhan MaizeXD Indus Dyeing Nestle PakXD Service IndXD Oil & Gas Develop
2635.85 405.87 4447.00 188.03 167.66
2600.00 400.00 4630.00 186.00 167.97
2510.00 385.58 4250.00 183.00 164.00
2520.17 385.58 4431.18 184.11 164.54
5.16 22.33 4.98 7.29 8.80
4.22 20.68 4.70 6.50 8.15
4.97 20.69 4.89 6.64 8.39
-115.68 66 -20.29 80 -15.82 203 -3.92 1,901 -3.12 197,418
Volume Leaders Dewan Cement Jah.Sidd. Co. Lafarge Pakistan JS Bank Ltd Bankislami Pakistan
4.17 21.76 4.82 6.91 8.74
0.80 34,293,858 -1.07 30,280,942 0.07 25,190,800 -0.27 22,239,222 -0.35 15,343,246
Interbank Rates US Dollar UK Pound Japanese Yen euro
90.6899 145.4303 1.0954 121.0710
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
90.50 120.16 144.11 1.0839 90.15 11.49 24.56 24.06 93.15
91.10 121.48 145.73 1.0957 91.65 11.67 24.83 24.30 94.61
CORPORATE CORNER engro commits to a greener planet by celebrating earth Hour
ISLAMABAD: engro Corporation and Fertilizers in a step to show solidarity with the global initiative to showcase support for climate change and reduce environmental footprint celebrated the earth hour by organizing a candle light vigil at their head office as part of Green Office initiative under the WWF umbrella. the earth hour was first initiated in WWF-Australia where Sydney-siders were inspired to show their support for climate change action. in 2011, earth hour saw hundreds of millions of people across 135 countries switch off for an hour. engro as a responsible corporate citizen also held this ceremony to highlight the grave climate change issues that continue to have long term impact of the environment of the plant. PRESS RELEASE
PTCL launches Smartphone eVoDRoID ‘Touch N Fly’ ISLAMABAD: Continuing its legacy of bringing affordable and innovative technology to consumers, Pakistan telecommunication Company Limited (PtCL) has launched the first ever 3G Android mobile Smartphone, eVODROiD “touch N Fly”. PtCL eVODROiD touch N Fly comes with built-in 3G eVO wireless Broadband service that gives dual support for both eVDO and GSM/CDMA networks. Powered by Google Android Froyo 2.2 operating system, S martphone eVODROiD lets its users surf and talk simultaneously while on the move and that too at 3G speeds of up to 3.1 Mbps. Supporting all GSM SiMS to ensure maximum outreach without limitations of any specific GSM network, it brings three-months and six-months bundled eVO Wireless Broadband connections equipped with both 3G & Wi-Fi for un-interrupted on-the-go connectivity. the eVODROiD touch N Fly is packed with hi-resolution 3.5” 480*320, capacitive hVGA tFt LCD touch screen, 5.0 mega pixels autofocus rear camera, 3G Wi-Fi hotspot to enable sharing of Wi-Fi & 3G connections with multiple gadgets simultaneously, 512MB Flash ROM and 256MB DRAM, 4GB Micro SD card having extendable memory upto 32 GB included. PRESS RELEASE
LG recognised by red dot and if design awards
LAHORE/ SEOUL: Fourteen of LG electronics’ (LG) 2012 products were recognized by the red dot design awards for their excellence in the field of design. A panel of 30 independent judges considered over 4,500 products from 1,800 manufacturers and designers in nearly 60 countries. in all, LG took 12 red dot design awards as well as two honorable mentions. LG’s success at the 2012 red dot design awards follows the 14 awards the company received among the 2,923 competing entries at the iF (international Forum) design award earlier in the year. LG Optimus 2.0, an Android-based smartphone interface, was recognized for its unique user interface design. LG was also recognized for being environmentally responsible in designing the MAChJet printer’s packaging using pulp molded recycling buffer material. “LG’s philosophy is that every LG product incorporates user experience in its design,” said Kun-pyo Lee, head of Corporate Design at LG electronics. “Our ultimate philosophy to incorporate designs that work but also evoke some emotional response.” STAFF REPORT
Around-the-world with Mobil 1
through the cold mountainous down to the lush green hot plains has been tough and demanding, especially for their vehicle – from freezing cold the extreme head over dusty terrain, crossing over muddy streams, the team relied only on Mobil 1 for a power packed performance kilometer after kilometer. Sharing his views, Andrew said, “only one Mobil 1 oil change was needed, even after undergoing the harshest driving coordination for over 66,000km. this extreme temperature performance and outstanding wear protection has been one of the most assuring factors.” Now in Karachi, for a Mobil 1 fill-up before the next leg of their journey. PRESS RELEASE
Huawei Landing Pakistan with Best Smart Phone LAHORE: huawei today officially unveiled the huawei “honor”, its latest Android 2.3.5 Gingerbread smartphone in Pakistan. it features a 16M 16:9 true color high-definition (hD) 4-inch FWVGA capacitive touch screen. Powered by a 1,900 MAh battery. the smartphone frees consumers from the inconvenience of searching for an electricity source, allowing them to share and connect for up to three days on a single charge – the longest battery life among smartphones in the 4-inch screen range. With a 1.4 Ghz processor, an 8-megapixel hDR - enabled camera and a 2megapixel front-facing camera, “honor” is a powerhouse in a sleek 10.9 mm-thin body and weighs just 140g. honor comes with a 3D user interface which is easier to customize and manage, as well as a dynamic weather widget. it also features a Gyroscope which enables a better gaming experience. “huawei honor encapsulates the huawei brand – it features simpleto-use, advanced technology that allows people to share and connect easily. STAFF REPORT
SNGPL suspends gas supply to DH Fertilisers LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) had suspended natural gas supply to Dawood hercules Corporation’s fertiliser plant on Monday. the SNGPL curtailed gas supply due to sabotage activity that widened the gap between demand and supply, SNGPL sources claimed. STAFF REPORT
KARACHI: team Mobile 1 Pakistan welcomes Andrew Pettengell and Ann Nuttall as they pass through Karachi, on a round-the-world-trip in their Jeep – using Mobil 1 the World’s Leading Synthetic Motor Oil. the adventurous Australian couple has travelled in Pakistan from the highest peak in the Korakoram highway to the historic city of Lahore. the journey
schools students from public schools in rural areas of FAtA, Sindh and Balochistan. Last year, USAiD in partnership with the Government of Pakistan organized a technology and cultural exchange program for these bright young Pakistani’s at Wakefield high School in the USA. Mr. Siddiq Memon, Secretary Sindh education & Literacy Department also adorned the occasion and in his address to the students expressed his gratitude to USAiD for their continued support over the last 5 years, “We are truly thankful to USAiD for providing these students the opportunity to learn and excel. it is inspiring to see these students become leaders in their schools and communities. Now USAiD is helping rehabilitate flood-affected schools in Sindh and Balochistan. Our continued partnership is now yielding tangible results.” PRESS RELEASE
March inflation at 10.79 per cent KARACHI: the Consumer Price index (CPi) inflation in the country stood at 10.79 percent as against 11.05 percent recorded last month in February. the numbers culminate into 9MFY12 average CPi of 10.79 percent as against 13.95 percent in the same period last year, while on month-on-month (MoM) basis the inflation skipped above one percent to stand at 1.2 percent. “Waiting for detail break-up, our initial assessment suggests that the resurgence in the MoM inflation comes from higher petroleum and gas prices on the back of increase in the international oil prices and higher food prices,” viewed Nauman Khan of topline Research. PRESS RELEASE
PGA DG talks up Watan Cards LAHORE: Director General Provincial Disaster Management Authority, Mujahid Sherdil has said that due to good governance and effective strategy by Chief Minister Punjab, a new chapter has been added to the history of the province by issuing Watan Cards of 40 thousand rupees to the 313828 flood victim. he said that distribution of Watan Cards has been completed under a transparent system and a sum of about 12 billion 55 coroe 5 lakh and 80 thousand rupees has been disbursed to the flood affectees in two phases. he said that all Watan Card Centers are functioning efficiently. STAFF REPORT
USAID Interactive Session with SeP Students during workshop KARACHI: the people and Government of United States of America are committed to improving education in Pakistan; this was stated by Dr. Randy hatfield, Deputy Director USAiD who participated in a workshop organized to discuss experiences and future plans of 29 high
LAHORE: NBP Regional Head, Naeem Aslam receives receives CSR division award Punjab Governor Lateef Khosa during fourth CSR Conference. PRESS RELEASE