PRO 01-02-2012_Layout 1 2/1/2012 4:35 AM Page 1
Index ends flat after top stocks restrict benchmark movement Page 03
Pages: 3
profit.com.pk
Wednesday, 01 February, 2012
ECC facilitates millers, jacks up sugar prices
Govt borrows 142pc more from banks KARACHI ISMAIL DILAWAR
T
Committee expresses concern over delay in payment of sugar millers by TCP
ISLAMABAD AMER SIAL
I
nSTeaD of passing on the impact of bumper sugar production to the consumers, the benign government decided to facilitate the wealthy sugar millers by allowing export of 100,000 tonnes of sugar that will help retain the sugar prices at the last year level of Rs70 per kg from the current prices of Rs45 per kg. The decision was made by the economic Coordination Committee (eCC) of the cabinet, chaired by Finance Minister Dr abdul hafeez Shaikh. eCC has already allowed procurement of 478,000 tonnes of sugar directly from the sugar millers. Pakistan is expected to produce a record five million tonnes of sugar this year as compared to average yields of three million tonnes per year. The procurement by public sector will help the government to maintain strategic sugar reserves for the current year. an official source said the decision of eCC will only help the millers as allowing export will help them manipulate the market in the later part of the current year, when the demand for sugar picks up in the summer season. This will also be election time and official control over the cartel will be difficult to maintain. The source said that eCC also expressed concern over the delay in the payment of sugar millers by
the Trading Corporation of Pakistan (TCP). Since Chairman TCP was not present in the meeting, eCC directed him to apprise the Cabinet Division and Finance Division on daily basis about the payments made to millers. a statement issued after the meeting said eCC allowed export of 100,000 tonnes of sugar. The decision was taken after a detailed review of the sugar situation in the country. eCC had constituted a committee under the chairmanship of Minister for Textiles Makhdoom Shahabuddin, to examine the export of sugar and submit its recommendations. It recommended export of 200,000 tonnes of sugar on first come first basis purely through the private sector. eCC had a detailed discussion on sugar situation from the line ministries which maintained that the left over stocks from last year were 900,000 tonnes, and the current crop is expected to yield record production of around 4.5 to 5 million tonnes. Taking annual consumption of 4.2 million tonnes, expected surplus would be around 1.5 million tonnes. however, it is important to mention that the Ministry of Industries has estimated last year that the domestic sugar consumption had declined to three million tonnes per annum due to the inflationary sugar prices. The government had imposed a ban of sugar exports in 2009. While allowing export of sugar, Finance Minister directed the concerned ministries to ensure that
no single party alone benefited and modalities for the export be finalized in coordination with the State Bank of Pakistan. eCC also discussed the request of the Pakistan Cotton Ginners association already made to the Prime Minister for procuring 1 million bales of cotton lint at price of Rs6500 per bale. It was noted that only a small stock of cotton that is less than 10 per cent of overall production of 14 million bales was lying with the growers. It was decided that any intervention in such a situation was not prudent for cotton market as well as the growers. The meeting decided that the policy of free market should continue and let market forces define the prices of cotton in the country. It may be mentioned here that the Karachi Cotton association (KCa) and all Pakistan Textile Mills association (aPTMa) have also opposed the government intervention in the cotton price mechanism. The source said eCC deferred a summary of the Ministry of Water and Power seeking imposition of 16 per cent GST on the hydro electric power sector. he said that the committee was completely confused on the presentation made by the Power Ministry and ministers were not able to comprehend the need for imposition of levy. It was decided that the Chairman Water and Power Development authority (WaPDa) would be called to brief the committee on the issue in the next meeting.
LAHORE
LPG prices hit
record high Imports for December 2011 stood at 17000 tonnes whereas those in January have been less than 12,000 tonnes
T
STAFF REPORT
he February Saudi Aramco Contract Price for LPG soared to a record high of $1028 per tonne yesterday. This represents an increase of $142 per tonne from the price of January 2012. Local LPG Producer prices that are indexed to the Saudi Aramco CP and calculated on a 40:60 ratio of propane to butane are expected to increase by at least Rs15,000 per tonne to settle at Rs107,000 per tonne with effect from 3rd February 2012. The resultant increase in prices will translate into an increase of Rs177 for domestic and Rs681 for commercial cylinder. LPG retail prices could jump as high as Rs155-160 per kilo whereas the sale price for domestic and commercial cylinders will increase
from Rs1650 to Rs1830 and Rs6356 to Rs7035 respectively. “We urge the government to seriously reconsider the imposition of the petroleum levy on local LPG, which could further escalate prices and increase them by Rs28,000 per tonne instead of Rs 15,000” said Belal Jabbar, the spokesman for the LPG Association of Pakistan. On 16th January 2011 the federal government imposed a petroleum levy of Rs11,486 per tonne on LPG production in order to increase its price and equate it with that of imports. however, in order to avoid criticism and public backlash state owned LPG producers upon direction from the Ministry reduced their prices by Rs10,000 per tonne before adding the levy of Rs11,486. The resultant increase in prices was therefore
he funds-starved government’s budgetary borrowings from the banking system, continued its northward journey, and marked a massive increase of 142 per cent during last six and half months of the current financial year. State Bank reported Tuesday that during a period ranging from July 1 to January 20, the cash-strapped government borrowed Rs777.393 billion from the central and scheduled banks. The amount shows an exorbitant increase of 142.24 per cent when compared with Rs320.910 billion the resource-constrained federal and provincial governments borrowed form the banks during the corresponding period last year, FY11. In monetary terms this mammoth increase accounts for Rs456.483 billion. Despite serious attempts by the central bank the regulators have not been able to reduce the volume of its advances to the government which during the review period accumulated to Rs182.581 billion, up 70 per cent or Rs75.43 billion from Rs107.144 billion of last corresponding period. The analysts from official and unofficial quarters deem the government’s borrowings from the State Bank as highly inflationary as the central bank caters the government’s monetary need through ways not other than printing new banknotes. With central bank rejecting the impression, some analysts perceive that the SBP was still lending huge sums to the government indirectly through injecting liquidity in the banking system where the risk-averse commercial banks were extending the pumped liquidity to the sovereign borrower instead of crediting the same to the private sector. On the other hand, the State Bank says the government was relying more on the scheduled banks for its budgetary needs and borrowed over Rs595 billion during the period under review. During same period last year the banks’ advances to the government stood at Rs 214 billion, which means the banks invested 178 per cent or Rs 381 billion more in the risk-free and heavily-weighted government papers, including Market Treasury Bills, Pakistan Investment Bonds and Ijara Sukuk. If not inflationary in nature, this trend, the analysts fear, is crowding out the private sector which is considered the engine of growth to ensure sustainable and longterm development world over.
Rs1486 per tonne. however public sector producers suffered a heavy loss on account of reducing their prices and will most likely not absorb the impact of the petroleum levy in February. The ultimate impact of the levy will be borne by the consumer. “LPG imports have plunged since the imposition of the levy as local prices have arisen to alarming levels said Belal. Imports for December 2011 stood at 17000 tonnes whereas those in January have been less than 12,000”. Almost 70 per cent of the Local production is controlled by the government of Pakistan through its holdings in PPL, OGDCL, PARCO and PPL. Furthermore 80 per cent of the country’s requirement is met through local production. “The imposition of the levy is unjustifiable and is pure discrimination against local production” said Belal.
PRO 01-02-2012_Layout 1 2/1/2012 4:35 AM Page 2
02
Wednesday, 01 February, 2012
news National Rabta Information Portal Services launched in Urdu
Financial constraintsof Thar project in President’s notice KARACHI GHULAM ABBAS
ReSIDenT asif ali Zardari, has taken notice of the financial constraints of the country’s only “Underground Coal Gasification” (UCG) project at Thar which is feared to collapse if the required fund is not released by the government. Dr Samar Mubarakmand, the project’s head, had recently claimed that the country would be losing the entire work of the project made during last one year if the needed fund was not released by both federal and Sindh government. The president has directed the ministry of finance and other concerned authorities to hold a meeting to discuss the issue, sources at UCG project said. Soon after the expected meeting in Islamabad, they claimed, the financial issues of the important project, which has successfully started producing gas by ignition of coal 600 feet below ground in December 2011 would be resolved through releasing Rs5 billion for purchase of machinery and other required things. Through the UCG of Thar Coal the generation of 100 MW of electricity was expected by the end of 2013 at a total cost Rs9.9 billion. earlier, to complete power generation phase of the project, Dr Samar had requested Prime Minister Yousuf Raza Gilani to arrange immediate funding of Rs2.4 billion this year and the remaining 7.8 billion during the next financial year so that the country can benefit
P
from the generation of 100 MW of electricity before the end of 2013. however, at least Rs200 million out of the approved fund for the project was also yet to be released by provincial government. earlier two scheduled meetings to be held in Islamabad to discuss the funding issue of the project was postponed for unknown reasons. The previously postponed meeting was to be held on January 16, among the ministries of petroleum, finance and other concerned authorizes to discuss and approve the financial requirements of the UCG programmeme at Thar, Sindh. after over a month of the successful test burn of Thar Coal through the UCG programme Secretary Coal and energy Sindh and Secretary Finance are also scheduled to visit the site of the project at Tharparkar on Wednesday to test the produced gas, they said. The pilot project, according to sources, has started facing the financial issue since the oil importers’ lobby started lobbying against the project raising various questions about the gasification programme in media. The powerful lobby, they said, was allegedly behind the move of creating financial problems to the project which has proved a landmark achievement of the country’s scientist through an ingenious design. “When a very important breakthrough has occurred in Thar and coal gas is being produced there are people who keep misleading the public by saying that gasification can only be possible once the coal has been brought on
Pakistan 2nd on world’s worn-clothes importers list KARACHI: Pakistan has become the second largest importer of the used clothes as a backbreaking double-digit inflation in the country continues to render even the higher income groups as cash-strapped. With purchasing power of the inflation-stricken buyers constantly decreasing, a four-year period ranging from 2006 to 2010 saw Pakistan jumping five notches up to the second position on the list of nation states importing the second-hand cloths. Russia happens to be the world’s largest importer of worn clothing. The economic observers deem the situation alarming saying this trend indicates two things: First, more people are going under poverty line in the country. Second, if the current inflationary climate persists the textile manufacturers would see a
massive slump in the sale of their lowcapacity productions. “This shows that a major chunk of the people is going below poverty line and that the new cloths have become unreachable even for the middle income groups,” senior economist asfar Bin Shahid viewed. according to official figures, during last four years the imports of worn clothing have been rising robustly marking an upsurge ranging from 24 to 69 per cent. To cater the ever increasing demand in domestic market, the country’s importers had to increase the volume of their imports of used clothing from FY200809’s $18.272 million to $23.420 million in FY2009-10 and then $29.014 million last year in FY11. This shows a respective increase of 28 per cent and 24 per cent. ISMAIL DILAWAR
LAHORE: Pakistan Telecommunication authority (PTa) believes that lack of local language content is one of the main hurdles behind the proliferation of broadband internet services in the country. Therefore, for the facilitation of general public and internet users of Pakistan, Urdu version for national Rabta Information Portal Services of Pakistan (www.pakistan.pk) has been launched on Tuesday, a single source facilitation web portal developed by PTa, providing information and content repository to information seekers from within and outside the country at one place in Urdu language. STAFF REPORT
t h e surface after mining,” they added. In reply to a query, the sources claimed that the project was definitely commercially feasible. Through the project at Block5 of Thar Coal, at least 10,000 megawatts of electricity was estimated to be produced generated besides producing 2000 barrel of diesel per day. To a question, they said that the production of gas through the UCG programme was going on in Uzbekistan, South africa and some other parts of the country. however, the work on the same kind of project was halted in australia due to the strong lobby of Methane. The country, can also obtain Carbon Credit as there would be no coal on surface through the UCG besides making no noise at the side. The only Block-5 (64 Sqkm) of Thar allocated for the gasification project could meet the energy demands of the country for over 30 years as it has the reserves of 1.4 billion tonnes. The pilot project, initially aimed to generate gas for producing 100 megawatts, was now also being planned to be extended from the approved 18 to 84 gasifiers. Dr Samar led team has also approached the government for arrangement of $1.2 billion fund for the 84 gasifiers aimed to meet expected demand of 2200MM cft by 2015.
Descon ‘facing challenges proactively’ LAHORE: CeO of Descon Chemicals Limited answering to a question in the Corporate Briefing Programme at LSe stated that the company is facing the challenges proactively and with the support of Descon Group, the company has turned around even in difficult times. Mr Taimur Saeed, the Chief executive of Descon Chemicals Limited was addressing the members, investors, analysts and media representatives at the Corporate Briefing Programmeme of Descon Chemicals Limited and Descon Oxychem Limited today at the Lahore Stock exchange. Mr Saeed presented a detail overview of the Companies operations and also shared future expansion plans. Speaking on the occasion, he said that the Descon Oxychem Limited (DOL) started commercial productions in December 2008 and in a short period of about three years; the company is operating at 101per cent capacity. STAFF REPORT
GCCI asks govt to open Iran immigration route
Agri forum for rice, oil barter with Iran LAHORE: agri Forum Pakistan has urged the government to import oil from Iran and export rice and kinnow under barter system to save precious foreign exchange as well as providing cheaper fuel to the Pakistani consumers. agri Forum Pakistan Chairman Muhammad Ibrahim Mughal in a statement issued here Tuesday said that Pakistan would be able to deliver diesel at the rate of Rs75 per liter instead of present rate of Rs104 per liter. about nine billion liters of diesel per annum is consumed in the country and its cheaper provision would cut the cost of doing business by the transport, factories and agricultural sector, he claimed. Commenting upon increasing prices of petroleum products in Pakistan, Muhammad Ibrahim Mughal said that our neigh-
bouring country India was importing a large part of its diesel requirement from Iran and Pakistan should follow this practice. he said India was providing this diesel in Pak rupees at Rs74 per liter and in Indian rupees at Rs41 per liter. he said that Pakistanis were consuming around nine billion liter of diesel per annum at present rate of Rs104 per liter. ‘Pakistan government can provide a facility of cut of Rs205 billion to Pakistanis by importing diesel from Iran and providing it to its own consumers at the rate of Rs75 per liter,’ Mughal said. agri Forum Chairman questioned that if europe and India could provide cheaper fuel to its national by importing diesel from Iran then why Pakistani was not following it to save our people from inflation. STAFF REPORT
MNAs asked to stop pressurising for rural gas provision ISLAMABAD AMER SIAL
heated debate took place between the parliamentarians and officials of the petroleum ministry on Tuesday, with politicians demanding supply of natural gas to their constituencies while officials vehemently opposing the demand saying that it is not economical, considering the historic gas shortage and poor rate of return on investment in rural areas. Chairman of the national assembly Standing Committee on Petroleum Sardar Talib hassan nakai at the outset expressed complete dissatisfaction over the government’s efforts in managing the gas crisis. he said the government’s load management plan miserably failed, as were its measures to expedite domestic oil and gas exploration. It failed to make any progress on LnG and
A
LPG imports and committee was not taken into confidence on Iran Pakistan and TaPI gas pipeline projects. Secretary Petroleum ejaz Chaudhary that the gas utility companies incurred an expenditure of Rs250 billion during the last four years to expand the gas infrastructure to less profitable rural areas, as the gas sale volume only increased by 1.7 per cent during the period. he said the increase in gas prices was necessitated due to the guarantee of 17 per cent return to gas utility companies on their infrastructure even though no increase in gas price was allowed to the producers. Criticizing his argument, Dr Donya aziz of PML-Q said it was the basic responsibility of the government to provide affordable energy to the people. She said the people in rural areas were paying all their tax on agriculture inputs and they should not be sidelined in development.
MD of SnGPL arif hameed said the company was laying on the average 5,000 km of pipeline every year for connecting new villages and towns. he said already 13,000 km pipeline expansion projects were pending due to lack of funds, which will require at least three years to complete. he said the government was providing only 25 per cent of the cost for the parliamentarian schemes while the rest was being borne by the company itself by getting it financed at 14 per cent interest rate from banks. Countering the Secretary Petroleum statement he said in fact they were losing money instead of making profit from new supply schemes. SnGPL, he said was working on Rs16 billion worth of projects while Rs18 billion were required for parliamentarians schemes. While another Rs35 billion were required to develop new infrastructure for the transmission of LnG and other import projects. he said the
domestic banking sector was not in a position to finance Rs50 billion worth of projects of the company. Members criticized that the concerned officials totally failed to foresaw the gas shortages and did not bother to plan to avert the crisis, Secretary Petroleum said that the ministry was warning since 2004 of imminent gas crisis if local oil and gas exploration was not expedited and expansion in gas infrastructure was not stopped, which ultimately resulted in a ban on new CnG station in 2008. When Barjees Tahir of PML-n asked him to fix responsibility on officials who granted illegal licenses during the ban, he said top OGRa officials were involved and the committee was already investigating the issue. however, he accepted that he was totally handicapped in implementing the gas load management plan due to the pressure of the various stakeholders.
KARACHI: President Gwadar Chamber of Commerce Industry (GCCI) Mir naveed Kalmati asked the government to open immigration route with Iran through Gwadar, besides, the government should also bring the Balochistan trade community into mainframe national affairs to the province’s sea port operational growth, here on Tuesday. GCCI president added that Reto Dero Road construction should be completed on urgent basis to like increase transportation from the Gwadar sea port to other parts of the country. Mir Kalmati said that Gwadar port completed the Urea operation successfully, dispatched 72 thousand tonnes Urea to the other parts of the country, in this operation the local clearing and shipping agents done 100 per cent work and transporters also take good advantage, 500 truck of Balochistan were engaged and 2000 people got the jobs, he added. Talking to group of journalist in local hotel GCCI President said “half million religious visitors went to the Iran”, if Pakistan’s government open the immigration route with Iran through Gwadar this route is comfortable for visitors and also good for government. STAFF REPORT
US Consular upbeat about Pak prospects LAHORE: Pakistan’s economy is going to take off in a matter of couple of years as misperceptions about the country are fast fading out. This was stated by US Commercial Consular Brian McClreary while talking to LCCI Vice President Saeeda nazar here at the Lahore Chamber of Commerce and Industry on Tuesday. LCCI executive Committee Members Rehman Chan, Zeeshan Khalil, Tahir M Sheikh and Waqar ahmad Mian and former executive Committee Member Ibrahim Qureshi also spoke on the occasion. US Commercial Consular said that there exists a vast potential in Pakistan to become a developed economy but it is only suffering because of lack of technology and the United states was keen and taking all possible measures to remove the hurdles coming in the way of expanded Pak-US economic relations. STAFF REPORT
Lucky Cement profit up 107pc to Rs3.02b KARACHI: Lucky Cement Limited has outperformed its competition by recording 107 per cent rise in its half yearly profit for the year 2011-12. The company has declared a profit for the half year, ending 31st December 2011, of Rs3.02 billion which is 107 per cent higher than the corresponding period last year. The earnings per share (ePS) for the corresponding period increased to Rs9.33 against an ePS of Rs4.52 of corresponding period last year. The company’s gross profit increased by 46.55 per cent during the half year as its net sales revenue improved by 27.82 per cent to Rs15.37 billion against Rs12.03 billion of last year. STAFF REPORT
Privatisation Commission to speed up SPO ISLAMABAD: Privatisation Commission Board on Tuesday decided to accelerate the Secondary Public Offering (SPO) of Pakistan Petroleum Limited (PPL) while it was informed that five parties were pre qualified for the privatization of the national Power Construction Company (nPCC). The meeting was chaired by the Minister for Privatisation Ghous Bux Khan Mahar. The minister directed PC to exercise utmost transparency at every phase of the privatisation process of public sector entities for their value addition and to associate all stakeholders for their complete satisfaction in an open and fair manner. The board reviewed the implementation status of the decisions taken in the earlier meeting and the progress of other various on going and upcoming transactions. STAFF REPORT
PRO 01-02-2012_Layout 1 2/1/2012 4:36 AM Page 3
Wednesday, 01 February, 2012
news
03
Farmers urge govt to focus on research
LAHORE
P
STAFF REPORT
aKISTan is blessed with the best possible natural resources and weather, but agriculture production of the
country is almost 40 per cent less in comparison to neighbouring countries in the region. Production deficiencies are results of inefficiencies of research institutes and lack of government’s interest. These observations were made by Kissan Board Pakistan (KBP)
Zia-ul-Mustafa Awan elected President ICMAP LAHORE: national Council of the Institute has recently elected Mr Zia-ul-Mustafa awan as President of the ICMaP for the period 2012-2014. he is the youngest ever president elected by the institute’s council in its history of more than 60 years. he has attained this position at the age of 37 years which is a symbol of emerging young leadership particularly in the professional institutions and generally in the country. Mr Zia ul Mustafa awan brings with him professional experience of over 15 years. he is a Fellow Member of ICMaP and has served the Institute in different capacities such as honorary Secretary, Chairman Lahore Branch Council and Chairman Journal and Publications Committee. STAFF REPORT
Central Vice President Sarfraz ahmad Khan here on Tuesday. he was speaking to the newly-elected office-bearers of the agriculture Journalists association (aJa), including President Munawar hasan, Vice President Sighbat Ullah Chaudhry, General Secretary Rana Fawad and Finance Secretary Imran adnan. aJa former president Zahid Baig and other members were also present on the occasion. Khan pointed out that in all major crops Pakistan’s production was lowest in the region. In sugarcane, he indicated, through research and good farming practices various countries in the region had achieved production level of 1,200 to 1,500 maund per acre, whereas Pakistan was hovering between 500 and 600 maund per acre. Similarly, region was producing 50-60 maund wheat per acre,
while Pakistan was getting a yield of 27-30 maund per acre. however, a few big farmers were touching these levels in the country too, which indicated the Pakistan had similar potential. elaborating his point, Khan said that nearly 86 per cent farmers in the country had 12.5 acre or less land holdings, which did not have access to research and modern technology. Only a small percentage of big and influential farmers did have knowledge and access to modern research, he maintained. KBP vice president underscored, “agriculture is and will remain the base of national economy, as the country is surrounded on the prime land in the region.” The government should understand that Pakistan was located on an area that was rich with agriculture and mineral resources. But, Pakistan
could never exploit this potential of visible and invisible natural resources, he lamented. Lack of interest on the part of the state machinery had created socio-economic imbalance in the society. With better planning this crisis like situation could easily be converted into an opportunity. “If government maintains its focus on agriculture, the country’s exports can be multiplied, ample employment opportunities can be generate and food security will be no issue,” he underlined. Criticising the role of research institutes, Khan said that these heavy headed institutes were merely causing a loss to national resources. These so-called research institutes were not delivering anything to agriculture or society, whereas the country was badly needed new research in al-
most all areas. he stressed that the country needed high-yield, weather and pest resistant varieties that could be produced with less water and it was only possible through research. he urged the government to pay due attention to research and development. Speaking on the occasion, KBP Central Punjab President Chaudhry Manzoor ahmad highlighted the issue of black marketing of agriculture inputs. he pointed out that though the government was giving subsidy on urea, but the benefit was not being passed to farmers. Farmers were still getting fertiliser at an exorbitant price of Rs1,600 to Rs1,700 per 50-kg bag. he indicated that mills were selling urea at Rs1,600 per bag, but due to absence price control middlemen were making hefty profits through black marketing.
Index ends flat after top stocks restrict movement KARACHI STAFF REPORT
he benchmark raced towards the north and kissed a level of 11,977 level, but soon after selling in various top tier stocks restricted the benchmark movement. Once again volume slide to merely 60 million shares traded with top ten stocks generating 49 per cent of the total volumes. after the result announcement of LUCK, FFC and FFBL investor jubilation has toned down to lower level while stocks which are likely to declare their financial results are still in the limelight. among the banking stocks, MCB outdid rest of its peers whereas the index heavy
T
weigh OGDC reached a high of Rs154.5 per share, but soon after selling pressure pushed the stock price to close at Rs152.4. We believe the result season may continue to dominate the index
performance, said Bilal asif, head of Research at hMFS. KSe 100 index closed at 11874.89 levels with the loss of 8.12 points, while KSe 30 index gained 2.44 points to
close at 11172.94 levels. all Share index closed at 8225.97 levels after losing 5.94 points. Total 98 scrips advanced 117 declined and 115 remain unchanged out of total 330 scrips traded.
CORPORATE CORNER Ufone celebrates 11th anniversary with great zeal and enthusiasm
Rawalpindi/Islamabad and Muzaffarabad for categories of 512Kbps and 1Mbps in both wire-line and wireless broadband services offered by different operators. The survey measures operators’ overall performance based on PTa’s key performance indicators (KPIs), including service availability, download and upload bandwidth speed, round-trip time, and service retain-ability. PRESS RELEASE
Bashir Ahmad: A new brand in textile launched ISLAMABAD: Ufone celebrated its 11th anniversary with great fervor and spirit, with the commitment to remain the best cellular company in Pakistan. Cake cutting ceremonies were held in offices nationwide on 30th January 2012. Ufone’s CeO, abdul aziz congratulated the Ufone family on successfully completing 11 years of achievement. he also said that “Ufone as an organisation is well positioned to realize the benefits of our major strategic growth investments and strong operational execution. at the same time, we remain passionate about positioning Ufone as the leading integrated telecom company in Pakistan providing one of the most affordable and variety of services in the telecom market”. PRESS RELEASE
PTCL leads PTA’s 2011 Broadband QoS survey ISLAMABAD: Pakistan Telecommunications Company Limited (PTCL) is leading all operators in the country by providing to consumers the highest quality Broadband Internet service, according to the second nationwide Quality of Service (QoS) 2011 survey conducted by Pakistan Telecommunication authority (PTa). Released last week, the PTa survey places PTCL in category a (more than 95%) at Lahore, Rawalpindi, Peshawar and Quetta, and in category B (more than 80%) at Karachi for the 1Mbps wireline broadband service. The survey was carried out in Lahore, Karachi, Peshawar, Quetta,
“Transforming Futures” at the LUMS Mega Career Fair recently held on Saturday, January 28, 2012. Warid Telecom’s Recruitment & Staffing team provided advice to students about the job application process, requirements, eligibility criteria as well as the scope of career in Telecom Industry. Coaching Sessions for job seekers were also held on this occasion, providing the graduating students with career counseling. an incredible response was received from the university graduates and final year students, who turned up in large numbers to explore career opportunities available with Warid Telecom. PRESS RELEASE
ceremony for the Samsung Cameras Promotional Offer in Lahore. Mr Zunair Sattar from Lahore was rewarded with a brand new Samsung LCD Television, as the first prize. To promote the innovative, sleek and feature-rich cameras by Samsung, a special consumer engagement initiative was launched.each customer of Samsung Cameras was given a Scratch-Card, which provided an opportunity to win fabulous prizes including a cutting edge LCD TV. PRESS RELEASE
Kamal Limited announces Kamal Lawn by Élan 2012
KARACHI: a new brand in fabric is ready to take off in Pakistan. In this connection a prestigious ceremony was held at a local hotel in Karachi. Distinguished guests including parliamentarians, eminent citizens, prominent personalities from business, trade and industry and a large number of media representatives attended the ceremony with a great interest. On this occasion, a video was screened, Presenting the Objectives and Role of Bashir ahmad in years to come. Mr. Mohammad arif, CeO of the company, while talking to the newsmen expressed his gratitude and highlighted his Company's Plan to become a Preferred Choice for Pakistani Consumers. Other Director of the Company Mr. abdul awwal was also present on the occasion. PRESS RELEASE
Warid partakes in LUMS annual career fair KARACHI: equal opportunity employer, Warid Telecom recently participated with the theme of
LAHORE In its first domestic initiative, Kamal Limited will be introducing Kamal Lawn by Élan in an exclusive launch exhibition at 10-Q in Lahore on 16th March, 2012. One of the premier home textiles exporters of Pakistan, Kamal Limited’s lawn venture with designer fashion label Élan is their first local initiative which brings together two highly regarded names in textile production and design respectively. With an aim to carve a niche for itself in the Pakistani designer lawn market, Kamal Lawn by Élan is being introduced with state of the art quality in cloth and printing, and attention to detail in design. Kamal Limited brings with it six decades of experience in textile manufacturing, having been established in 1950. Drawing design inspiration from Sub-continental, Central asian, Oriental and european aesthetics, Kamal Lawn by Élan presents a wide array of designs in various geometric and floral patternswith the diversity of both vibrant and pastel-based colour palettes. PRESS RELEASE
KARAcHI: Mr.Abdul Qadir Aziz, Regional Manager International of RaKairways, inaugurating Al Hadi Aviation Pvt Ltd office. Picture shows Syed Ali Imam, Syed Fazal Imam, Mr.Ajmal Zahidi country Manager, Mr. Rizwan Marchant, of Qatar Airways, and Mr.Rafiq Khan, of Bukhari Travels present on the Occasion. PRESS RELEASE
Samsung rewards its camera customer with an LCD TV LAHORE: Samsung electronics Company Ltd., a global leader in Digital Media Technology, recently held a special Prize-Distribution
Mr. Aamer Manzoor, Director Sales Mobilink Infinity, giving away prize to a lucky winner of Tombola Night. PRESS RELEASE