16-17 Business Pages (05-02-2013)_Layout 1 2/5/2013 1:08 AM Page 1
01
B
Business community, defense institutions interaction is needed for country’s wellbeing — Zafar Bakhtawari
BUSINESS Tuesday, 5 February, 2013
LHC summons report on substandard CNG cylinders LAHORE: Lahore High Court Chief Justice Umar Ata Bandial Monday sought action against substandard CNG cylinder manufacturers summoning a detailed report from the Oil & Gas Regulatory Authority (OGRA) till March 13. The single judge bench comprising the chief justice passed the orders on a petition filed by petitioner-counsel Rana Mehtab. Earlier, Secretary OGRA Zainul Abideen Quershi appeared before the court and submitted that mostly CNG cylinder explosions took place in public transport vehicles whereas there were no reports of explosions in private vehicles. He mentioned various steps taken to stop cylinder explosions. APP
ISLAMABAD
Pak-China Business Forum from March 23 ISLAMABAD: COMSATS Institute of Information Technology (CIIT) will organise the second Pak-China Business Forum from March 23-26 to explore new avenues of cooperation for mutual benefit of the two friendly countries. Its objective is to promote collaboration between universities and industries. Major Chinese and Pakistani companies, small and medium enterprises, entrepreneurs, universities, and research and development organisations will attend the forum activities, said official sources. The seminar will comprise project exhibition, seminars, workshops and an industrial academic expo. CIIT introduced an academia driven model of Business Cooperation by establishing Pak-China Business Forum to promote academia-industry collaboration in business and economic sectors. The forum will provide an opportunity for commercialisation of products and processes of the participating organisations. APP
KSE closes higher, rupee weakens KARACHI: Pakistan's stock market closed higher on Monday, with the telecommunications sector taking the lead as investors predicted earnings would be stronger than expected, traders said. The Karachi Stock Exchange's (KSE) benchmark 100share index ended 0.13 percent, or 21.84 points, higher at 17,288.07. "(The) Telecom sector remained in the limelight as investors expect December quarter earnings will be better due to an increase in international call rates," said a dealer. Telecard rose 24.38 percent to 4.54 rupees. Pakistan Telecommunication Corporation rose 5.21 percent to 19.40 rupees. In the currency market, the rupee ended weaker at 97.73/97.79 against the dollar, compared to Friday's close of 97.70/97.75. Overnight rates in the money market remained flat at nine percent. STAFF RePORT
T
FPCCI RESPONDS TO STRATEGIC TRADE POLICY FRAMEWORK
APP
He Ministry of Commerce has announced adoption of a number of guiding principles to create a competitive environment by rationalising the tariff protection policy (TPP). According to the new Strategic Trade Policy Framework (STPF) 2012-15 announced by the government recently, the high tariff protection maintained over a period of time erodes competitiveness and affects consumer welfare. Thus the ministry will adopt the following guiding principles: promote competitive markets in the country, ensure conformity to international agreements and practices, promote domestic and foreign investment, create level playing field for Pakistani firms in international as well as domestic markets, provide due consideration to consumer welfare, cater to the changing needs of Pakistan's economy and create an enabling environment to pursue the legitimate goal of industrialisation in the country. Similarly under the STPF 2012-15, the ministry will establish the Pakistan Land Port Authority (PLPA) to strengthen regional trade.
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) issued its response to the Strategic Trade Policy Framework announced earlier this week by the Ministry of Commerce. While commenting on the export target of $95 billion for the next three years envisaged by the ministry, FPCCI President Haji Fazal Kadir Khan Sherani said it was a realistic announcement but would still require commitment and hard work in view of the energy and security crises facing the country. He also appreciated the fact that regional trade with ECO, China and SAARC had been recognised as an area of priority by proposing the idea of an exclusive Pakistan Land Port Authority. At the same time, Pakistan’s weakness in the areas of fruit, meat and food processing had also been identified, and the STPF contained proposals to address these areas by encouraging industrial units in Balochistan, KP, FATA and Gilgit-Baltistan, he said. The FPCCI had in the past been raising these
According to the policy, trade integration with South Asia, China and the economic Cooperation Organisation (eCO) countries is likely to increase the volume of trade flows across land borders. However, “our borders at land ports
lack world class trade facilities,” the policy said. According to the policy, the land ports will be transformed into efficient facilitators of trade and simultaneously become responsive to security issues and smuggling. The ministry in the trade policy has
OGRA slaps petroleum levy on LPG
LAHORE ONlINe
Oil and Gas Regulatory Authority (OGRA) has put in place a petroleum levy on Liquefied Petroleum Gas (LPG) shifting the burden of increase in gas price by Rs 5 per kilogram onto consumers. Per a private TV channel, OGRA had imposed the levy at the rate of Rs11.50 last year, which was challenged by the LPG marketing companies in Lahore High Court (LHC). The
issues with the government at various forums. On the other hand, there were also some weaknesses in the STPF, which could not be overlooked from the point of view of the business community of the country according to the FPCCI. For instance, the announcement of STPF came near the end of the incumbent government’s tenure, which raises a question mark about who would implement it, after the present government’s term ended, said Sherani. While it was true that some of the business community’s demands, such as reduction in mark-up for export-oriented industries had been acknowledged, yet there was nothing in the STPF to address some other thorny issues, such as smuggling on the western border, improvement in infrastructure on both the eastern and western border trading posts, and the biggest problems of all- energy, and law and order, he said. Surprisingly, the STPF also does not contain adequate provisions for the textile sector, which makes up more than 50% of our exports, he added. NNI
court had suspended implementation of the notification on this count but OGRA has now introduced a new formula after a lapse of 8 months under which petroleum levy at the rate of Rs 3500 per tone has been enforced on LPG from February 1st. The consumers will have to bear the brunt of this levy as the gas will now cost them at an increase of Rs 5 per kilogram. The LPG marketing companies have said they will challenge the SRO again in the court, as it is unjust and unfair.
proposed to establish the Pakistan Land Port Authority as a statutory body, under the administrative control of the Ministry of Interior with representation from relevant federal entities as well as from the respective provincial governments.
Businessmen provided WeBOC training ISLAMABAD APP
Business community, exporters as well as importers were educated and provided initial training on the Web-Based One Custom System (WeBOC) during a session held at the Islamabad Chamber of Commerce and Industry (ICCI) on Monday. Customs Deputy Collector Faiz Ali chaired the session and explained important features of the WeBOC including increased customs efficiency and efficient deployment of resources, minimal clearance time at port, minimal customs processing time, paperless and single window customs operations, reduced cost of doing business and less clearing/handling charges. He informed the businessmen about the efficiency of the system for maintaining better cash flows, transparency and integrity, on the mark revenue realisation, cargo information, on-line manifest filing and many other features. He said the customs department is striving to make WeBOC more familiar with stakeholders and customs officials are always available to resolve their problems related to the system. The deputy collector said WeBoc would not only drastically reduce the time for clearance of goods but would also work in accordance with the latest SROs and the international price mechanism. Speaking on the occasion, ICCI President Zafar Bakhtawari appreciated the deputy collector for bringing in the technologically advanced system for the benefit of the business community. Bakhtawari said the Customs Department should establish facilitation desks for achieving better results and conduct massive awareness campaigns for businessmen. He said customs should also promote industrialisation by adopting a business friendly approach towards the business community and industrialists. He said that local importers and exporters have some reservations over custom procedures which could be addressed by easing regulations and procedures and eliminating corruption, making the system more efficient and organised.
16-17 Business Pages (05-02-2013)_Layout 1 2/5/2013 1:08 AM Page 2
MFN status to India will not affect the Kashmir cause — Manzoor Wattoo
02
BUSINESS B Tuesday, 5 February, 2013
3rd Global CEO Excellence Awards-2013 on Feb 9 KARACHI
S
NNI
enIOR management and leadership of around 28 public and private sector companies (also including many multinationals) will be awarded the 3rd Global CeO excellence Awards-2013 at a splendid ceremony to be held here at Marriott Hotel on February 9, 2013. Senior Federal Minister for Commerce Amin Fahim will be the chief guest on the occasion and will also give away awards to heads of successful public, private, and multinational companies. The Global Media Links (GML) and Better Pakistan Forum are organising the award ceremony to admire excellence in leadership in various aspects and spheres of corporate, private, public, and industrial management. The awards will be conferred in various categories of innovative leadership demonstrated by chairmen, CeOs, and managing-directors, and other highly placed officials of large, medium, and small enterprises, industries, public, private, and government sector organisations. The prime feature of this year’s CeO excellence Awards will
be the presentation of Multinational CeO excellence Awards-2013 to officiating heads of 10 leading and distinguished multinational companies working in Pakistan. For selecting 10 coveted winners of Multinational CeO excellence Awards, the event organizers extensively browsed through profiles and achievements of over 50 multinational organisations and their respective top business leadership active in Pakistan.
In view of the event organisers, the presence of promising multinational organisations like these on the national economic scene would surely help in boosting a soft and business-friendly image of Pakistan. These outstanding multinationals are being given awards as they ensure continuance and further convergence of foreign investment in Pakistan where often issues related to law and order and energy shortfall hinder commercial, industrial and
economic progress of the country. Another prominent feature of the programme will be the holding of “Global Innovative Business Leadership Summit” also being organised on the sidelines of the award ceremony the same day. This summit would be addressed by leaders of a number of eminent organisations of the country as panellists of the forum. The awards programme is the first of its kind in Pakistan, where, nominees were selected through a professionally handled process and were adjudged according to internationally accepted standards and principles of leadership excellence. According to the statistics of Global CeO excellence Awards-2013, since soft launching of the award competition some two months back, around 150 business houses made initial contacts with the GML for getting first hand information about the event. Over 75 institutions had later ensured their participation in the award competition by sending in nominations of their senior leadership for awards in various innovative categories. The jury for selecting winners of Global CeO excellence Awards-2013 comprised of six leading industry experts including two international judges.
Major Gainers COMPANY Bata (Pak) Fazal Textile Exide (PAK) Atlas Honda Ltd Philip Morris Pak.
OPEN 1384.99 270.29 336.61 157.79 156.96
HIGH 1454.00 283.80 349.90 165.67 164.80
LOW 1394.00 283.80 336.75 158.50 164.80
CLOSE CHANGE 1400.00 15.01 283.80 13.51 348.15 11.54 165.67 7.88 164.80 7.84
TURNOVER 450 100 10,300 36,100 7,100
4911.50 598.00 900.00 640.00 622.00
4911.50 597.50 900.00 625.01 600.00
4911.50 597.50 900.00 627.12 601.00
-258.50 -31.40 -15.00 -9.84 -4.56
120 200 50 48,600 2,250
4.58 19.44 3.59 7.80 18.20
3.75 18.51 3.11 7.31 17.29
4.43 19.39 3.48 7.72 17.39
0.78 0.95 0.37 0.38 -0.51
37,391,000 28,102,500 22,615,500 20,799,500 19,815,500
Major Losers Nestle Pakistan Ltd. Indus Dyeing Wyeth Pak Limited Millat Tractors Ltd. Siemens Pakistan XD
5170.00 628.90 915.00 636.96 605.56
Volume Leaders Telecard Limited P.T.C.L.A Pace (Pak) Ltd. Lotte PakPTA Maple Leaf Cement
3.65 18.44 3.11 7.34 17.90
Interbank Rates USD GBP JPY EURO
PKR 97.7857 PKR 153.7289 PKR 1.0508 PKR 132.9690
Forex US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal
BUY
SELL
99.10 132.65 153.98 1.0524 97.60 12.50 26.73 26.23
99.80 134.99 156.65 1.0700 99.94 12.79 27.15 26.59
CORPORATE CORNER NIT’s sales promotion kiosk at ‘All About Life Styles Exhibition’ ends
KARACHI: Three days kiosk organized by NIT at Expo Centre from February 1-3 to familiarize the people about the opportunities of profit by investment in NIT funds ended on Sunday. A heavy turnout of visitors was witnessed at NIT stall. A very useful database of perspective customers has been compiled during the event days to help NIT marketing force to explore further. Chairman/MD NIT Mr. Wazir Ali Khoja also visited NIT kiosk and appreciated the teamwork of NIT staff deputed at NIT kiosk. PReSS ReleASe
corporate world. Jubilee Life pioneered Bancassurance in 2003 and is now the largest player in the Bancassurance arena with 11 partner banks. With its innovative product offerings and unparalleled levels of customer services, Jubilee Life cemented its market leadership with over 50% of total new Bancassurance premiums written in 2012. Mr. Javed Ahmed, Managing Director & CEO Jubilee Life speaking to the guests said, ‘I am delighted in celebrating our proud achievements together with our partners. I attribute this success to my team and on the top to all our partners whose commitment and focus served as the key ingredient to the success of Bancassurance.’ PReSS ReleASe
Dawlance 1100-A automatic washing machine offers innovative washing solution
clothes. Everything can be done with a touch of a button giving them enough free time to tend to other chores.” Speaking at the launch, Ms. Naushin Shahid, Category Manager, Dawlance added, “Dawlance 1100-Automatic washing machine is a breakthrough in washing technology. The Delay Start-up feature makes washing possible anytime during a day. Just set a certain time and the machine will automatically wash the clothes without a need for supervision. The Power Failure Resumption feature allows the washing machine to carry on with the washing without restart in case of a power failure. Besides this it also has the regular One Touch Operations, Customized wash feature, Hassle Free Wash, Tub Clean Option and a Child Safety Lock. Households can avail the innovative solutions provided by the Dawlance automatic washing machine 1100-A at the same price as some of the semi automatic washing machines available in market today.” PReSS ReleASe
KARACHI: Executive Vice President of National Bank of Pakistan (NBP) Irtiza Kazmi receives the 3rd CA Award from Sindh Women’s Development Minister Tauqeer Fatima Bhutto as Syed Ibne Hasan, Senior Vice President and Head of Corporate Communication PT and Brand, looks on. STAFF PhOTO
Jubilee Life thanks its Bancassurance partners
KARACHI: Jubilee Life Insurance recently celebrated yet another successful year of Bancassurance business by holding an entertaining gala event for its partners. The event was aimed to appreciate the outstanding performance of its partners and thank them for their contribution in the success. Event was attended by Jubilee Life’s Bancassurance partners, Commissioner of Insurance (SECP), directors and senior management of the company, along with other prominent and well known personalities from the
KARACHI: Dawlance, the no. 1 home appliances brand of Pakistan recently launched a new Automatic Washing Machine (Model # 1100-A) to add to its already impressive range of washing machine models. This latest addition has loads of technically advance features i.e. Hassle Free Wash, One Touch Operation, Power Failure Resumption, Delay Start-up, Child Safety Lock and Tub Clean Option which will revolutionize the way clothes are being washed in households today. Speaking at the launch Mr. Hasan Jamil, head of sales, Dawlance said: “Dawlance understands that people now expect much more from a washing machine than just washing of clothes. A hectic lifestyle leads to a continuous need for comfort which is in part provided by Dawlance’s innovative home appliances like the 1100-A automatic washing machine. The thought process behind the development was providing the busy women of today with a solution to ease the hassle behind the daily washing of clothes. No longer do women need to take out time from their hectic lives to wash their household’s
KARACHI: ZONG has once again outdone its competitors by announcing the winners of its Carnama offer. Through this offer the telecom giant has rewarded 5 fortunate subscribers with brand new Honda Civic cars and 40 subscribers with motorbikes. Picture shows Berkat Ullah, Regional Director ZONG, handing over the key of Honda Civic to lucky winner Ghulam Yasin. PR
KARACHI: Former Turkish diplomat Erkut Onart’s photography exhibition was held at Grandeur Gallery at Zamzama. Photo shows Turkish Consul General Murat Mustafa Onart, Grandeur CEO Neshmia Ahmed and Yasmeen Haider. PR