PRO 03-04-2012_Layout 1 4/3/2012 12:29 AM Page 3
Tuesday, 03 April, 2012
03
news
ReJeCTeD! KARACHI
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STAFF REPORT
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
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High
Low
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Change
Turnover
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
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Sell
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