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W&P wastes another lifeline Page 02
Tuesday, 29 May, 2012
GOOD PIPELINES mAkE GOOD NEIGHBOuRS
Love thy neighbour; and fix their pipeline g
India shows interest in laying dedicated oil pipeline for Pakistan ISLAMABAD
ndIa has shown interest to lay a dedicated oil pipeline for Pakistan upto Wagha border if an agreement is reached between the two countries, while Pakistan has proposed exporting naphtha for refining at the Indian oil refineries. an official source said that these matters were discussed at the two days technical talks between India and Pakistan on Monday to identify petroleum products for imports, their quantity and payment mechanism. He said that the India side offered to meet all the petrol requirements of Pakistan that it currently meets through imports from Gulf states. The dialogue will provide opportunity for Indias to explore potential areas for trade with Pakistan. The two sides will identify products for trade, specifications, volumes, supply sources and transportation mechanism. Pakistan is interested to import POL products, diesel and furnace oil from India as their price is 30 percent less than the Gulf market. Pakistani delegation is led by Joint Secretary International and Joint Ventures Ministry of Petroleum Shabbir ahmed and members include representatives of Ministry of Commerce, Ministry of Foreign affairs, Ministry of Finance, OGRa,
Federal Board of Revenue, Pakistan State Oil, PaRCO and attock Refinery Limited. Indian delegation is headed by director International Cooperation and Corporate affairs, Ministry of Petroleum India P. Kalyanasundaram and comprises of business representatives from leading Indian companies including Petroleum Federation of India (PetroFed), IOCL, BPCL, HPCL, Reliance Industries, and Essar Oil Limited. While talking to Indian delegation, Petroleum Minister dr. asim Hussain said there is potential for trade of petroleum products between the two countries and initiation of talks would prove to be a step in the right direction. Pakistan, he said is interested in import furnace oil and diesel from India. He also informed the delegation on the TaPI pipeline project. Pakistan’s consumption of petroleum products is about 22 million tons, of which about 85 per cent is met through imports. The total diesel demand is estimated at 7 million tons per annum. The domestic supplies are of 3.4 million tons and rest is imported. While the furnace oil demand has risen to 9 million tons, out of which only 2.5 million tons is produced locally. The government estimates increase in furnace oil consumption to 16 million tons by 2015-16.
Following decrease in LPG price in the international market, marketing companies in the country has reduced the price by Rs 15 per kg, Rs 180 per domestic cylinder and 720 per commercial cylinder. Chairman LPG association Irfan Khokhar told online that LPG price in the international market has been reduced by Rs 15,000 per metric ton. He said that LPG price
‘Pakistan, India possess potential in petroleum products trade’ ONLINE
LPG plays ping pong with the market LPG price reduces by Rs 15
CHOPS AND TOPSPINS GALORE!
Let’s fuel up our trade!
has been decrease from &861 to &700. He said that during last four months LPG price in the international market has been reduced from $1200 per metric ton to $ 700 per metric ton. He said that from 01st May LPG producer prices is Rs 67380 per metric ton therefore LPG price in the country should be Rs 80 to 85. Irfan Khokhar said that after this decrease price of LPG in the country would be reduced to Rs 15. He said that LPG marketing companies are looting the nation and in this regard government should taken action.
Meanwhile, marketing companies of Liquefied Petroleum Gas (LPG) has increased the rate of LPG by almost Rs 5 per Kilogram to Rs 110. Chairman LPG distributor association, abdul Hadi Khan told private TV channel, that despite the double hike in the prices, the sale out of the Liquefied Petroleum Gas has been limited upto 800 Ton by the marketing companies. He said that the LPG rate reached upto Rs 99 to 100 in Khyber Pakhtoonkhwa and Rs 110 in Mansehra and Batgram due to the recent increase in the LPG prices.
Federal Minister for Petroleum & natural Resources dr. asim Hussain has said that Pak-India has great potential for trade in petroleum products and in this regard initiation of talks would prove a step in right direction. He stated this during a meeting with the Indian delegation which is visiting Pakistan for discussing issues pertaining to trade in Petroleum Products. The Indian delegation is headed by P.Kalyanasundaram, director (International Cooperation & Corporate affairs), Ministry of Petroleum & natural Gas, Government of India and comprises of business representatives from leading Indian companies including Petroleum Federation of India (PetroFed), IOCL, BPCL, HPCL, Reliance Industries, Essar Oil Ltd. The Pakistani delegation is being headed by Mr. Shabbir ahmed Joint Secretary (International & Joint Ventures) Ministry of Petroleum & natural Resources, Government of Pakistan, and other members include representatives of Ministry of Commerce, Ministry of Foreign affairs, Ministry of Finance, OGRa, Federal Board of Revenue, Pakistan State Oil, PaRCO and attock Refinery Ltd. dr. asim Hussian during his interaction with the delegation welcomed the Indian members to Pakistan and said that Pakistan is interested in import of Furnace Oil and diesel. He also appraised the visiting delegation regarding TaPI pipeline project. Earlier Secretary Petroleum, Mr. Muhammad Ejaz Chaudhry in his opening remarks said that this dialogue will provide opportunity for Indian businessmen to explore potential areas for trade with Pakistan. The two days dialogue will discuss subjects such as identification of products, specifications, volumes, supply sources and transportation mechanism for trade between the two countries.
Open your parachutes and grab your wallets! SBP takes weeks to move as FBR worries over falling tax deductions by banks g FBR says ‘considerable fall’ noticed in WHT deductions g Central bank notified FBR’s April 12th letter to banks after 46 days g Board striving hard to achieve Rs1.952tn tax collection target for outgoing FY12 g
KARACHI ISMAIL DILAWAR
n what appears to be a lukewarm response to the tax collectors’ concern the central bank on Monday put on alert the banks to a “considerable fall” in their deductions of the withholding tax on exports. Seeing the achievement of its Rs 1.952 trillion fiscal tax collection target in jeopardy, the Federal Board of Revenue (FBR) had requested the State Bank on the 12th of last month to ask the banks to ensure timely deduction and deposit of the amount withheld on exports and indent-
ing commission. also, the central bank was requested to issue necessary instructions to the banks that they send monthwise figures of their deductions under the heads of export proceeds realizations and indenting commission to the office of the chief commissioner Inland Revenue, Regional Tax Office. The required figures were to be reconciled with the FBR’s data and the total collection accounted for. “Considerable fall is noticed in the amount of deduction as compared to last year… what is worrisome is that tax shortfall in collection is more than the anticipated corresponding impact and requires
immediate attention of the concerned quarters,” reads an FBR letter sent to Qasim nawaz, managing director State Bank of Pakistan, BSC on april 12. However, whereas the tax collectors might be in hurry on the eve of fast approaching federal budget, the central bank could find some free time to notify the same after the elapse of 46 long days. In the letter, Chief Commissioner Khwaja Tanveer ahmed told the State Bank that the FBR and its field formations were are making all out efforts to achieve the assigned revenue targets for the current fiscal year. acknowledging that to an
extent the shortfall in deductions might be for reasons such as fall in exports in some areas, the chief commissioner recalled that last year too such situation had arisen. “It is hoped that issuance of such instruction this year too would definitely lead to achieving the assigned targets of overall collection not only of this office but also by the FBR,” ahmed said. Monday eventually saw the State Bank issuing a circular to the head and principal offices of all authorized dealers in foreign exchange sharing with them the FBR’s concern. “(The) authorized dealers are advised to bring the above to the notice of
all their constituents,” says the SBP circular issued by additional director Muhammad akmal. Under the relevant tax laws, the banks or authorized dealers deduct withholding tax on the realization of export proceeds and on the realization of foreign exchange receipts on account of indenting commission. now while the next financial budget is days ahead, the FBR authorities are striving hard to meet the fiscal tax collection target which, some analysts believe, would be a daunting task owing to massive tax evasions and one of the lowest, 9 percent, tax-to-GdP ratio in the country.
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Tuesday, 29 May, 2012
IN HOT WATERS
W&P wastes another lifeline g
Denies lifeline consumers’ concession ISLAMABAD
aTER and Power Ministry has failed to implement its own decision to increase the lifeline user’s slab from 50 units per month to 100 power units that is entitled to a price-cap. In the second energy conference that held last month in Lahore Prime Minister announced to increase in the consumer slab with lowest tariff to one hundred units consultation with provinces to provide maximum relief to the masses. Earlier, consumers using 1 to 50 units of electricity per month were exempted from tariff increases and paying the General Sales Tax (GST) but after this conference it was decided consumers using till 100 units per month will be treated as ‘life-line’ consumers but this decision has not implemented. Sources in the ministry of water and power said that Government had issued a notification to power distribution companies and nEPRa in this regard, However, implementation of increase in the
Islamic banking seen growing beyond 15pc by 2016 KARACHI STAFF REPORT
Islamic banking should grow to over 15 percent by 2016 from its current share of 8 percent in the country’s banking industry. This was stated by Irfan Siddiqui, President and CEO of Meezan Bank which recently completed 10 years of Shariah-complaint banking in the country. He was outlining the broad growth strategy for Islamic banking in Pakistan for the next five years. In his telephonic address from Bahrain at the 10th anniversary of Meezan Bank, the bank’s chairman Sheikh Ebrahim Bin Khalifa al-Khalifa attributed the bank’s growth and success to the blessings of God almighty. He thanked the bank staffers for their efforts in the establishment and growth of Riba-free banking in Pakistan.
consumer slab with lowest tariff to one hundred unites has not ensured and lifeline consumer limitation is still 50units. Sources told Online that for the current month (May) major part of electricity bills printing process has been
completed and out of twenty badges, eight have been printed with same old slab of lifeline consumers and no relief has been given to the price stricken masses of the country. Sources said that ministry is reluctant to implement this decision because after implementation of decision regarding increase limit of lifeline slab they (ministry) have to face cut in their revenue collection. Ministry of water and power is already facing financial constraint and remained unable to clear its liabilities with Pakistan State Oil (PSO) and decision to extend lifeline user’s slab would further create financial problems for the ministry. an official said that around 10.3 million consumers use 50 units of electricity per month nationwide. after the increase in the consumption limit to 100 units, about 3.4 million more consumers will be added to the beneficiaries of subsidized electricity. The total number of ‘life-line’ consumers will stand at 13.7 million. Sources said that finance division was opposing this decision as already more than thousand billion subsidy has been given by the ministry of water and
power to the consumers. an official of the power ministry said that the amount of targeted subsidy would now stand at Rs13 million per month, accumulating to Rs156 million a year. Source told that according to latest estimates, the government will pay a total of Rs396 billion in subsidies during the current financial year. When contacted Federal Secretary Water and power Imtiaz Hussain Kazi has said that in this regard consultation process is continued and soon consensus would develop and relief would be given to masses. He said that after Prime Minister directions to increase the slab of life line consumers ministry of water and power has written to power distribution companies to devise mechanism for its implementation. He expressed the hope that during next month this decision would be implemented and relief would be given to the masses. Imtiaz Kazi said that ministry is also working for long term solution of circular debt and a procedure would be adopted to avoid such situation in future.
APCNGA to yell bloody murder in around 24 hour’s time g
Scheduled banks talk Turkey
The cause being CESS withdrawal, or lack thereof, from the next budget and of course CNG load-shedding ISLAMABAD ONLINE
all Pakistan CnG association has decided to start severe agitation from tomorrow (Wednesday) in case of government’s failure to withdraw CESS tax in coming fiscal budget and to reduce CnG load shedding in the country. Chairman all Pakistan CnG association Ghyas Piracha told Online that association has repeatedly requested the Ministry of petroleum to revoke three days load shedding from the country and not to impose Gas development surcharge (CESS) on CnG sector. He said that after repeated
contacts no one from the ministry responded therefore association has not left any other option but to come on road and take steps to save the CnG sector. Ghyas Paracha said that government wants to promoter LPG in the country but it does not viable as it would take minimum four to five years to install LPG kits in the CnG running vehicles. He said that CnG sector consumes only 7 percent of gas while it generates 21 percent revenue for national exchequer resultantly it has become on the most profitable sector for the government. He said that aPCnGa would not let LPG to disturb 50 million con-
sumers and four million vehicles owners and an economic traveling facility for the price stricken masses of the country. He said that we have given a comprehensive plan to the government to enhance revenue and to control the widening energy crises in the country however government does not seems to adopt this method. With the help of our formula government will earn up to 78 billion monthly extra revenue which will help to meet government’s circular debt. Ghyas Piracha alleged that few influential people are all out to promote LPG business by importing substandard LPG in the country and to crush CnG sector in the country.
Pak-Turkey currency swap arrangements to be expanded KARACHI STAFF REPORT
Pakistan is considering to expanding the scope of its currency swap agreement with Turkey from central to the schedule banks level. This the central bank officials told a meeting held here at TdaP office by the ministry of commerce and Trade development authority of Pakistan (TdaP) to create awareness about the government’s ongoing efforts for having currency swap arrangements with Islamabad’s trading partners, specially the regional ones. “The lenders would further be extended to the scheduled banks which would provide necessary financing to the traders in the two countries,” M ali Malik, an SBP director, told the meeting. The current mechanism of swap arrangements with Turkey, he said, would be based on borrowing and lending arrangements between the central banks of the two countries. Malik said the arrangement was necessitated because there was no liquidity available with the two countries in terms of local currencies and nor there was such any deposit base available.
Trade a la kiev! ISLAMABAD ONLINE
The bilateral trade between Ukraine and Pakistan is around $180million which was very low as compared to potential and needs to further improve. Volodymyr Lakomov, ambassador of Ukraine in Pakistan, made these remarks in a meeting with Yassar Sakhi Butt, President, Islamabad Chamber of Commerce and Industry (ICCI) on Monday. Hes aid that Pakistan and Ukraine have great potential of trading and investment in many sectors, which are needed to be exploited through greater co-operation between the two countries. He said that Ukraine is rich in mineral, energy resources and mechanical products like airplanes, turbines, locomotives and tractors.
LCCI’S DAY OuT
The chronicles of disinterest and circular tables g
LCCI in the dark over load-shedding solution LAHORE STAFF REPORT
The Lahore Chamber of Commerce and Industry has expressed deep concern over the government’s least interest in solving the issue of prolonged load shedding damaging the domestic, commercial and industrial users alike and urged to take solid and serious measures for resolving this crisis causing severe dent to the national economy. Speaking at a function here, the LCCI Chief Irfan Qaiser Sheikh that the present government and its officers never get tired of talking about private sector’s being the engine of growth and increases revenue targets ambitiously every year. nevertheless, the government remained fail in its tenure to provide an enable environment to the private sector which could help it generate more revenues for the government, earn profitability and create job opportunities for the youth of the country. Irfan Qaiser Sheikh said that LCCI has repeatedly warned the government of massive lay-offs and industrial closures if it fails to immediately stop power outages but people sitting on the
helm of the affairs are playing the role of silent spectators. The LCCI President said that government would not be able to control the situation triggered by the demonstrations and strikes called by the angry industrial workers against their retrenchments as a result of these power outages. “How the government would establish its writ and from where it would collect revenues to run its day-to-day affairs when the industrial wheel is coming to a grinding halt.” The LCCI President said that the government should understand that economic well being is a must for democracy. Unemployment, price-hikes, industrial closures always gives birth to lawlessness and anarchy. Therefore, the government should understand the ground realities and reset its priorities regarding provision of electricity to the industry. Irfan Qaiser Sheikh said that the industry needs continuous supply of electricity to keep the units operational and to complete the export orders well within the given timeframe but only because of the shortage of electricity the exports are not up to the mark. Irfan
Qaiser Sheikh said that Pakistan had already lost a number of global markets and the new power cuts would further aggravate the situation. The LCCI President said that cheaper and uninterrupted power supply is only way to achieve economic targets set for the year 2012-13 but neither the government is sharing its future plans to this regard nor paying any heed to the difficulties being faced by the trade and industry. Irfan Qaiser Sheikh said that it is astonishing that on the one hand the government circles were talking of economic stability in 2012 while on the other hand they were not sharing any kind of roadmap to achieve this goal. The LCCI President also feared a surge in street crimes, saying that law and order situation is bound to aggravate in the coming days as repeated power outages in the industrial estates is jacking up the graph of unemployment particularly hitting the daily wagers hard. He said that the most of industrial units had already reduced their working to single six-hour shift from the previous three shifts system. This had led to increased level of rawmaterial wastage leaving production process non-profitable. now the lead-
ing industrial units were experiencing losses despite being managed professionally. The crisis in industrial sector is not only causing flight of capital and relocation of industrial units to the countries like Bangladesh and Malaysia but had also reduced government revenues drastically. He said that a similar situation had erupted about two years ago but that was resolved with the help of the business community who lent a lot of input in developing a viable load management plan. The LCCI President urged the President and Prime Minister to take notice of this grave situation and act promptly to save industrial and social fabric of the country. LCCI hosts a roundtabLe: The Lahore Chamber of Commerce and Industry (LCCI) in collaboration with Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian national University of Education Planning and administration (nUEPa) is arranging a Roundtable on “Skills for Employability in South asia” on Tuesday (today) at its premises. The Round table will explore the current status of skills and identify the emerging demand for skills in South
asia, focusing on Pakistan, India and Bangladesh. LCCI President Irfan Qaiser Sheikh and associate Professor nUEPa dr aarti Srivastava, LCCI Vice President Saeeda nazar and FICCI officials will give their respective point of view. Skills and knowledge are the driving forces of economic growth and social development of any country. Countries with higher and better levels of skills adjust more effectively to the challenges and opportunities of the world of work. Skill development has immense implication for labor market in general and inclusive growth in particular. The skill that students need in order to best position them for employment opportunities in the 21st century economy will be identified. The discussion will also bring the stakeholders together for enhanced understanding of the procedures and processes of the system so that they can be addressed accordingly. HR Managers from companies operating in diverse field such as IT, Banking, Insurance, Construction and Real Estate are likely to participate in the Roundtable and give their suggestions on how to bridge the gap between education and labor market.
PRO 29-05-2012_Layout 1 5/29/2012 2:07 AM Page 3
Tuesday, 29 May, 2012
news AN AWkWARD mOO mOmENT
BuDGET OSCILLATES BETWEEN RED RAG AND HONEY
All hat, no cattle? Bears left stranded ‘ g
Govt committed to overhaul livestock sector’ LAHORE STAFF REPORT
To bring about a revolutionary change in the livestock sector, present government has already launched a programme to train 2000 young boys as artificial Insemination assistants (aIas) and 2000 women as Women Livestock Extension Workers (WLEWs). This was stated by the Punjab Minister for agriculture and Livestock Malik ahmad ali aulakh while speaking at the certificate award ceremony arranged by the Punjab Livestock and dairy development Board (PLddB) for second batch of 200 artificial Insemination assistants (aIas) and Women Livestock Workers Extension Workers (WLEWs) here on Monday. Punjab Secretary Livestock Hamed Yaqoob Sheikh, University of Veterinary and animal Sciences (UVaS) Vice Chancellor dr. Talat naseer Pasha, PLddB General Manager dr. naveed niazi, director General Livestock Extension Zahid Irfan and others were also present on this occasion. The Minister said that Pakistan ranks fourth in milk production in the world but despite having such a huge potential our milk production is insufficient to meet the national requirement, he regretted. He alleged that it was the result of inappropriate planning and lack of interest shown by the previous governments. The Punjab Livestock Workers said that already 572 young boys and women had already completed their training and started performing in the field thus not only earning their livelihood under self-employment but also contributing in the national development. He hoped that this project would not only help developing the livestock sector on latest lines but also to achieve US 5 billion dollars export target. Punjab Livestock and dairy development Board (PLddB) Chief Executive Officer Maj. Gen. ® Muhammad ali Khan speaking on this occasion said that first batch of the young men trained under this project was already giving results through their skills in the rural areas while certificate was being distributed amongst the second batch students today.
with arms wide open g
kSE overcomes bear hug to post 106-point gain KARACHI
n first working day of the week Monday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index skyrocket 106.45 points. ahsan Mehanti, director at arif Habib Investments Limited, said that the Pakistan stocks closed bullish on investor speculations in over sold market ahead of federal budget announcements due this week. The day saw the index closing up by 0.76 percent at 14,031.51 points against 13,925.06 points of last working day of the week. The trading volumes at the readycounter were recorded higher at 181.329 million shares against 165.289 million shares of the previous day. The trading value was up to Rs 5.725 billion compared to Rs 5.354 billion of the last day session. The intraday high and low, respectively, stood at 14,059.47 and 13,925.06 points. He added that the Renewed foreign interest in oil & banking stocks, Stability in rupee fall, expectations for early resolution of naTO supply issue leading to release of US military aid to Pakistan, recovery in global stocks and commodi-
ties played a catalyst role in bullish sentiments despite concerns for rising political uncertainty. The market capitalization grew modestly and increased to Rs 3.591 trillion from Rs 3.562 trillion a day earlier. Of the total 369 traded scrips, 191 gained, 108 lost and 70 finished as unchanged. The free-float KSE-30 index also gained 148.93 points to close at 12,239.13 points against the previous 12,090.20 points. The KSE all-share index closed with a gained of 77.98 points to 9,880.00 points as against 9,802.02 points. d.G.K Cement was the day’s volume leader counting its traded shares at 23.798 million with the opening and closing rates standing at Rs 42.77 and Rs 43.90, followed by Jahangir Siddiqui Bank Limited, Bank Islami Pakistan, TRG Pakistan and World Call Telecom with turnover of 12.741 million, 11.839 million, 10.310 million and 9.839 million shares respectively. On the future market, the turnover down by over 13 million shares to 16.892 million against 29.056 million shares of Friday. The Mithchells Fruit and national Refinery, up Rs 13.65 and Rs 10.84, led highest price gainers while, Rafhan Maize Xd and Unilever Pakistan Xd, down Rs 139.12 and Rs 133.75 respectively, led the losers.
Major Gainers Company
Mithchells Fruit National Refinery Tri-Pack Films National Foods Attock PetroleumXD
273.11 239.49 207.56 179.23 443.36
286.76 251.45 217.80 188.19 452.00
279.99 239.55 202.10 177.01 442.00
286.76 250.33 216.86 188.19 451.54
13.65 10.84 9.30 8.96 8.18
2,412 583,575 24,889 14,875 19,996
Major Losers Rafhan MaizeXD UniLever PakXD Nestle Pakistan Ltd. Pak Services Shahtaj Sugar Mills
2825.00 7233.88 3908.75 162.89 80.00
2750.00 7230.00 3959.99 171.03 83.00
2683.75 7050.00 3720.01 154.75 76.00
2685.88 7100.13 3826.43 155.09 76.63
44.70 6.60 12.07 4.73 2.88
42.60 5.80 10.80 4.25 2.55
43.90 6.24 11.61 4.47 2.59
-139.12 -133.75 -82.32 -7.80 -3.37
139 136 47 1,340 401
Volume Leaders D.G.K.Cement JS Bank Ltd Bankislami Pakistan TRG Pakistan Ltd. WorldCall Telecom
42.77 5.84 11.20 4.27 2.86
1.13 0.40 0.41 0.20 -0.27
23,798,162 12,741,883 11,839,012 10,310,201 9,839,434
Interbank Rates US dollar UK Pound Japanese Yen Euro
92.2301 144.8289 1.1616 116.0992
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
92.90 115.69 144.82 1.1573 89.84 11.79 25.18 24.68 90.52
93.50 116.85 146.24 1.1686 91.22 11.97 25.40 24.88 92.87
CORPORATE CORNER Bank Alfalah sponsors Pakistan-Sri Lanka Cricket series KaraChI: Bank alfalah, the sixth largest bank by assets in Pakistan, which has been supporting sports in the country since its inception, has acquired the rights again as the Presenting Sponsor of the upcoming Pakistan-Sri Lanka cricket series to be played in Sri Lanka. The series, being organized by the Sri Lanka Cricket Board, consists of two T20 matches, five OdIs and three Tests. The two T20 matches will start from June 01, 2012 followed by OdIs and tests, respectively.
SmE sector can turnaround Pak economy: Ehtesham KaraChI: developing and promoting small and medium (SME) sector in Pakistan is need of the hour in order to rescue dwindling economy of the country, this was stated by Chairman, Korangi association of Trade and Industry (KaTI), Ehtesham Uddin here on Saturday.
AIESEC representatives lauded ufone’s project ‘Pakistan Tum Hi To Ho’
IsLaMabad: national Highways and Motorways Police extends its partnership to aTV an electronic media channel and U-fone, stepping ahead towards achievement of its mission and ultimate goal of road safety. Inspector General national Highways and Motorways Police presided at a signing ceremony for signing Memorandum of Understandings with aTV and U-fone today Friday, 25 May, 2012 at Central Police Office, F-8, Islamabad. The event was held in the presence of nH&MP, aTV and U-fone Officials. Speaking on the occasion, The Inspector General national Highways and Motorways Police reiterated the aim of department to ensure safer roads and hinderfree journey. The MoU signed by Farooq azam assistant Inspector General (Operations & development) from nH&MP and Maqsoos Hashmi G M Marketing from aTV, the MoU signed with aTV is to supplement the ongoing efforts of nH&MP in the field of Road Safety by producing and presenting transmission activities to create awareness amongst masses.These activities include telops, classified scrolls, programs, dramas, portion in main khabar nama, morning shows and other media coverage. The MoU signed with U-fone (Mr. asad amjad Butt GM Contract center & Support center) is to bring convenience in the access for public to use the helpline of nH&MP, which would turn out to be a milestone achieved in providing better help and services to the road users. The ceremony ended with Bara-khan which was arranged in the retirement farewell of the Inspector General nH&MP Wajid ali Khan.
‘Pakistan CAA shall implement best measures to enhance passengers comforts’ Lahore: Pakistan is a beautiful country and we are confident that the project taken forward by Ufone ‘Pakistan Tum Hi To Ho’ is one of the best projects which will neutralize the false negative impression of Pakistan globally. This was said by Haider Raza, one of the members of aIESEC International during a press conference held by aIESEC representatives here in Lahore.
National Highways, motorway Police signs mous with ATV, u-fone
KaraChI: In pursuance of directive issued by honourable Chief Justice of Supreme Court of Pakistan in Suo Moto action, director General, Civil aviation authority, Capt. nadeem Khan Yousufzai called an extra ordinary meeting at Headquarters Civil aviation authority, Karachi. The meeting chaired by the dG Caa was interalia, attended by deputy dG Caa, aVM Junaid ahmed Siddiqui, Capt. S. Hamid abbas Gardezi, Principal director – airport Services and all concerned directors to plan and implement enhanced measures for the convenience of overseas Pakistanis travelling to / from Pakistani airports. It was concluded that Civil aviation authority In collaboration with overseas Pakistanis Foundations and other stake-holders shall implement best possible measures to enhance the comforts of passengers. These measures shall include :A. The efficient manning of overseas Pakistanis Foundation Counters. B. Display of privileges of overseas Pakistanis at prominent locations and announcement to that effect by the Airlines. C. Provision of shuttle service between airport and hotel. D. Rebated radio cabs for various cities. E. Effective monitoring by CAA and display of facilities through electronic media.
Financial closing of 56.4 mw Zorlu Enerji Wind Project IsLaMabad: The financial closing of the 56.4 Zorlu Enerji Wind Power project would be held here on Tuesday. The ceremony would be witnessed amongst others by the Minister for Water & Power and Turkish ambassador to Pakistan. Zorlu Enerji Pakistan is a subsidiary of Zorlu Holding, one of the largest and leading groups in Turkey and active in the energy sector through the nine companies of the Zorlu Energy Group since 1993. The project is financed by asian development Bank (adB), IFC, Eco Trade & development Bank and Habib Bank Limited. M/s Zorlu has signed the financing documents with the lenders of the project. M/s Zorlu Enerji has signed the Energy Purchase agreement (EPa) with CPPa and Implementation agreement (Ia) with aEdB. The project company has successfully fulfilled all the requirements for achieving the financial closing of the project. Upon fulfillment of all requirements under the Implementation agreement (Ia), the GoP Guarantee has been issued to M/s ZEPL and the Financial Closing of the project has been announced. M/s ZEPL had already initiated the civil works for the project. The Lenders will make the disbursements to M/s ZEPL after the Financial Closing and the project IPP will start the full fledge construction works of the project. The first batch of wind turbines is expected to arrive in Pakistan from Spain in the first week of June. The project will be completed in the first quarter of 2013. M/s Zorlu Enerji installed 05 wind turbines of 06 MW in the first phase in 2009. In the second phase, M/s Zorlu Enerji will be installing 28 turbines of Vestas, taking the cumulative capacity of the project to 56.4 MW.
LONDON: From left to right: Mohsin Nathani – CEO Pakistan, Dr. Abdul Haffez Shaikh – Minister for Finance, Sir John Peace, Chairman Standard Chartered Plc, Syed Yusuf Raza Gillani – Prime Minister of Pakistan and Peter Sands – Group Chief Executive, Standard Chartered Plc at the Standard Chartered Head Office.
MUZAFFARABAD: H.E, Mr. Abdul Aziz Ibrahim Al-Ghadeer, The Ambassador of Saudi Arabia to Pakistan was warmly received by Mr. Aamir Kazi, General Manager, Pearl Continental Muzaffarabad.
Proud drivers choose Shell Helix KaraChI: The way you treat your vehicle says a lot about what kind of driver you are. at Shell we know that drivers who are proud of how their car runs, should have access to products that ensure performance. That’s why Shell has developed Shell Helix E that cares for your car on the inside and out. Shell is proud to announce the launch of new Shell Helix Synthetic Motor Oils, which have the highest aPI specifications in Pakistan. Shell is launching these new products across Pakistan to ensure consumers are aware of these new products in the market. as part of this launch we have introduced two new fuel efficient products: Shell Helix Ultra E and Shell Helix HX 7 E. Both Shell Helix E products have been developed through our technical partnership with Ferrari and give your engine maximum performance. We have also upgraded our Shell Helix HX 5 to a synthetic grade, which now exceeds the aPI Sn/CF classification.
KARACHI: The President Pakistan Sri Lanka Business Forum, Tarek M.Khan, hosted a dinner in honor of the Executive Committee of the Forum at a local hotel. Picture shows Consul General of Sri Lanka D.W.Jinadasa, Founder Chairman Majyd Aziz, Abdul Rauf Tabani, Farrukh Mazhar, Iqbal Shekhani, Aslam Pakhali, Furkan Tabani, Abdul Wahab, Babar and Zakaullah, with host.