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Tuesday, 6 November, 2012
Raja extols EU trade concessions Concessions to help strengthen Pakistan’s economy: PM VIENTIANE
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APP
RIME Minister Raja Pervez Ashraf on Monday said Pakistan attaches great importance to its relations with European Union which would be further strengthened with passage of time. He was talking to President of European Council, Van Rompuy, who called on the Prime Minister here at his Villa on the sidelines of Asia Europe Meeting Summit (ASEM-9) and discussed matters of mutual interests. President of European Council congratulated Raja Pervez Ashraf on his election to the office of Prime Minister. The President of EC briefed the Prime Minister about the efforts made by EU to grant trade concessions to Pakistan which was appreciated by Prime Minister Ashraf which, he added, would strengthen economy of Pakistan. The Prime Minister informed the President EC about efforts made by Pakistan for improvement of relations with India and Afghanistan. He said both Pakistan and India have taken initiatives to improve ties and resumed the composite dialogue process which entails negotiations on all outstanding issues with India. Highlighting efforts made by government to improve
human rights situation, the Prime Minister said that human rights constitutes an important part of Pakistan Peoples Party (PPP) manifesto. “We have taken several measures to improve human rights situation in the country including improvement of women’s lot and protection of rights of minorities,” he said. Prime Minister Ashraf said Pakistan is a frontline state in the war against terror and has suffered both in men and material. He expressed his resolve that Pakistan would continue its fight till this menace is rooted out.Talking about Afghanistan, the PM said “We share long border with it and desire
peace in Afghanistan”. He said people of Pakistan generally and PPP particularly have rendered great sacrifices for democracy in the country. Late Zulfiqar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto sacrificed their lives for upholding democratic rights of people and thousands went to jails for this cause. The Prime Minister said, “Today all the democratic forces in Pakistan realize that the transition is going to be important”. He also briefed the President EC on the steps taken by the government to ensure free, fair and impartial elections in the country and hoped that EU would send its observers to monitor the forthcoming general elections in Pakistan. Prime Minister Ashraf said appointment of Chief Election Commissioner by consensus would go a long way in ensuring free and impartial general elections in Pakistan Recalling the visit of Lady Austin to Pakistan in June this year, Van Rompuy said that European Union would continue its strategic dialogue with Pakistan. Presdient EC said that the EU and Pakistan are like-minded and both desire better relations and added that European Union admires the sacrifices made by Pakistan in fighting terrorism. He said, “We admire you and your party for the sacrifices made for democracy in the country. We share values which make our relations lasting.
FTA helps increase trade between Pakistan, Malaysia: Pervez Ashraf VIENTIANE NNI
Prime Minister, Raja Pervez Ashraf on Monday said Pakistan and Malaysia enjoy close brotherly and cordial relations which are rooted in faith, culture and traditions. He was talking to Malaysian Prime Minister, Dato Sri Mohammad Najib Bin Tun Abdul Razak, who called him on the sidelines of 9th AsiaEurope Meeting Summit being held here in Laos Capital. Prime Minister Ashraf thanked the Malaysian government for their generous assistance to Pakistan in the aftermath of natural disaster. He said Free Trade Agreement (FTA) between the two countries has resulted in increase of trade, however, there still exists more scope of improvement. He appreciated Malaysian support to Pakistan for Full Dialogue Partner Status with ASEAN. He said Pakistan is in a position to meet the manpower requirement of Malaysia. Prime Minister Ashraf said Pakistan is gearing up for general elections in the country as the government of Pakistan People’s Party (PPP) will be the first ever democratically elected government to complete its tenure. He also briefed his Malaysian counterpart about the steps being taken by his government to ensure free, fair and impartial elections in the country. The appointment of Chief Election Commissioner (CEC) through consensus by all political parties augurs well for democracy in the country, observed the Prime Minister. Prime Minister Najib said he had fond memories of his visit to Pakistan as Minister for Defence and that he looks forward to visit Pakistan. He appreciated the efforts made by government of Pakistan for promoting stability in the country.
Gold imports fall 22.73 percent ISLAMABAD APP
The gold imports into the country fell in first quarter of current fiscal year by 22.73 per cent against the same period of last year. The imports of gold during the period under review remained US $28.421 million against the imports of US $36.782 million during the same period of previous year. According the data of Pakistan Bureau of Statistics, the overall imports of metal group increased by 0.57 per cent during July September (2012-13) against the same period of last year. The metal imports during the period under review remained $687.087 million against imports of $683.194
million during same period of last year. Imports of iron and steel scrap registered a growth of 23.30 percent during July-September (2012-13). Iron and steel scrap imports into the country were recorded at $166.551 million during first quarter of current fiscal year against imports of $135.082 million during July-Sept e m b e r (2011-12). Imports of iron and steel shrank by 3.84 percent by falling from $331.788 million to
$319.048 million whereas the imports of aluminum wrought and worked decreased by 9.30 percent by going down from $30.741 million to $27.881 million. The imports of all other metal and articles were recorded at $145.186 million during the period under review against the imports of $148.801 million in last year posting a negative growth of 5.95 percent. Meanwhile, during the month of September 2012-13,
Cement in quagmire the gold imports into the country witnessed decrease of 41.56 percent when compared to the imports of September 2011 whereas the gold imports during September 2012 over August 2012 increased by 24.66 percent. Gold imports in September 2012 stood at $9.621 million against the imports of $16.462 million and $7.738 million in September 2011 and August, 2012 respectively. It is pertinent to mention here that overall imports into the country during the period under review witnessed decrease of 2.37 percent. The imports into the country were recorded at US$10.852 billion in 2012-13 against the imports of US$11.116 billion, the PBS data revealed.
From Russia, with steel g
Russian PM signs decree approving expansion, modernisation of Pakistan Steel Mills
VIENTIANE: Russian Federation has agreed to the Memorandum of Understanding (MoU) approved by the Government of Pakistan regarding the expansion and modernisation of Pakistan Steel Mills. This was disclosed by Prime Minister of Russian Federation, Dmitry Medvedev when he met Prime Minister, Raja Pervez Ashraf on the sidelines of 9th Asia-Europe Meeting Summit (ASEM-9) here on Monday evening. In this connection, the Prime Minister of Russian Federation signed a decree, signaling the approval of the MoU proposed by Pakistan. Hailing this as good news for Pakistan and its relationship with the Russian Federation, Prime Minister Raja Pervez Ashraf said that Pakistan Steel Mills was a symbol of Pak-Russia friendship and had special significance for Pakistan Peoples Party led government as it was initiated during the government of Shaheed Zulfikar Ali Bhutto. Prime Minister Raja Pervez Ashraf said that Russian Federation is an important country, with which Pakistan has good relations,and it has an important role in the world. Russia being both a European and an Asian country can serve as a link between the two continents, he added. The prime minister said that there
was a convergence between Pakistan and Russia on various regional and international issues. Referring to the recent visit of Russian Foreign Minister to Pakistan, he termed it as successful, where both the countries were able to make a good progress in their relations. The inter-governmental group established for enhancing ties between the two countries would further strengthen the relations, he added. The prime minister extended an invitation to Russian Prime Minister to visit Pakistan and expressed the hope that frequent exchanges of delegations and government functionaries will further enhance the ties. Prime Minister Dmitry Medvedev said that relations between the two countries have shown marked improvement in the last few years and they are in the right direction. The Russian Federation is keen to expand these ties and is ready to make investment in projects that are mutually beneficial, he added. Prime Minister Dmitry Anatolyevich Medvedev said that President Asif Ali Zardari had very useful meetings with the leadership of Russian Federation, which laid the foundation of good relations between the two countries. He expressed the confidence that in the near future both the countries would be able to identify
projects which would serve as engine of progress and symbol of good relations. Prime Mnister, Raja Pervez Ashraf appreciated the keenness of Russian Federation and its leadership to make investments in Pakistan and assured that the government of Pakistan will extend all
possible cooperation. The prime minister said that time has come that we should identify a few specific projects after ascertaining their feasibility and examining them in all respects and start work on them, so that we can translate this relationship into a meaningful partnership. APP
Cement exports dip 20.59%, local dispatches up marginally g Exports to India decline by 37.5 percent g
KARACHI STAFF REPORT
Cement despatches for the month of October decreased by 5.87 percent primarily because of a drastic decline of 20.59 percent in cement export, said the manufacturers on Monday. They said local despatches, however, showed a marginal growth of 0.19 percent. A spokesman of All Pakistan Cement Manufacturers Association (APCMA) said during the month in review the industry despatched 2.767 million tons of cement that was 5.87 percent less than the despatches achieved in the corresponding month of last year. Despaches in the same month of 2011 stood at 2.939 million tons, the spokesman said. He said the local cement dispatches were 2.086 million tons, marking an increase of 0.19 percent compared to cement despatched in October 2011 that were recorded at 2.082 million tons. He said during the first four months of FY13 the total cement despatches stood at 10.474 million tons which was slightly higher than the total despatches of 10.436 million tons achieved during corresponding period of last year. He said overall gain in despatches was only 0.37 percent. The capacity utilization of the industry during July-October 2012 period stood at 70.19 percent. The spokesman said cement exports continued their downward trend in October 2012 as well declining by massive 20.59 percent from the exports achieved in October 2011. Pakistan exports cement to Afghanistan, India and other destinations through sea. During the period from July-October 2012, exports to Afghanistan declined by 9.46 percent to 1.634 million tons. The exports to India contracted by 37.51 percent to 0.158 million tons and exports to other destinations through sea were increased by 2.34 percent to 1.161 million tons. Chairman APCMA Aizaz Mansoor Sheikh said the hype created on trade with India had so far not been materialized and export in that market was well below the expectation of the cement sector. He said after opening of land route it was expected that industry should be able to export more than five million tons cement to India.
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Microsoft launches Windows 8 in Pakistan KARACHI STAFF REPORT
M
ICROSOFT recently announced the availability of Windows 8 for its customers in Pakistan and around the world. Now consumers and businesses worldwide would be able to experience all that Windows 8 has to offer: a beautiful new UI, a wide range of apps with the grand opening of the Windows Store, available on more than 1,000 Windows 8 certified PCs and tablets. Windows 8 would be available for download to upgrade existing PCs in over 140 markets and 37 languages at the Window’s website and at retail locations around the world including Pakistan. Over 250,000
PCs are available at more than 1,000 retail stores, including Hyperstar, Metro, E4U, Makro and Compsi. “With the launch of Windows 8, Microsoft is unveiling a reimagined Windows to the world,” said Sherif Morsi: Windows Business Group
Lead, Microsoft North Africa, East Mediterranean and Pakistan. “Whether you want a tablet or a PC, whether you want to consume or create, whether you want to work or play – Windows 8 delivers a personalized experience that fits your unique style and needs.”
Windows 8 will be available in two versions at retail, Windows 8 and Windows 8 Pro. For the business customers, Windows 8 Enterprise offers new possibilities in mobile productivity with features like Windows To Go, DirectAccess, and BranchCache, as well as enhanced end-to-end security with features including BitLocker and AppLocker. Launching at the same time is a new member of the Windows family designed for ARM-based tablets, Windows RT, which will be available pre-installed on new devices. Windows 8 features the new fast and fluid Start screen that gives people one-click access to the apps and content they care most about, the entirely new Internet Explorer 10 that is perfect for touch, and built-in cloud capabilities with SkyDrive.
ICCI puts the jigsaw pieces together Says political stability would ensure economic development ISLAMABAD INP
President ICCI Zafar Bakhtawari has said political stability is a prerequisite for economic growth and development of the country in the prevailing global scenario to offset the future fiscal challenges. There should have been plan for practicing good governance for sustaining and maintaining a sound political and socio-economic system in the country, he maintained. He urged the leaders of all the political parties to help strengthen democratic system in the national interest by burying their political differences and said that political stability was a key factor worldwide for economic development and
restoring confidence of foreign and local investors. ICCI President said that representation of traders in the CDA board of directors is essential that help in creating a bridge between the citizens and the civic agency to understand the rapidly increasing problems of the city and giving their input in the policy making and decision-making process of mega projects. Mr.Bakhtawari also highlighted the problem of balanced rent control because non-existence of a balanced rent law in the federal capital was the main cause of rising rent disputes between tenants and landlords. He lauded the dynamic role of Senator Syed Zafar Ali Shah for democracy, supremacy of judiciary
and implementation of rule of law inPakistan. He informed the Senator,who visited ICCI about various problems faced by business community. Senator Syed Zafar Ali Shah assured his support for solving the problems of business community and said that he would provide his full support in execution of balanced rent control act and expressed hope that it would soon be made into a law. Mr.Munawar Mughal, former President ICCI thanked Senator Syed Zafar Ali Shah for visiting ICCI and said that it was high time that mainstream political parties must demonstrate their responsibility, tolerance and uphold the decent democratic values and norms in their ranks.
Business 02 Major Gainers COMPANY OPEN Bata (Pak) XD 1410.75 Sanofi-Aventis Pak 314.88 Pak Services 167.40 Sapphire FiberXD 126.00 Attock CementXDXB 109.18
HIGH 1480.00 330.62 175.77 132.00 114.63
LOW 1480.00 330.62 175.77 126.00 109.50
CLOSE CHANGE 1480.00 69.25 330.62 15.74 175.77 8.37 131.87 5.87 114.27 5.09
TURNOVER 1,500 1,100 200 2,300 150,000
10000.00 316.45 190.00 170.00 114.95
9700.00 300.63 178.58 168.53 114.95
9849.50 302.58 178.58 168.53 114.95
-135.80 -13.87 -9.39 -8.87 -6.05
380 19,200 19,000 2,800 1,000
7.10 54.05 95.41 17.95 74.20
6.81 53.19 94.80 16.90 72.70
6.83 53.79 95.40 17.30 73.02
-0.11 0.60 4.53 -0.32 0.90
15,653,000 11,166,000 7,480,400 7,015,000 5,896,500
Major Losers UniLever Pak 9985.30 National FoodsXD 316.45 Pak Gum & Chemical 187.97 Murree BreweryXDXB 177.40 Gatron Ind.XD 121.00
Volume Leaders Fauji Cement D.G.K.CementXD Engro Corporation P.T.C.L.A Engro Foods Ltd.
6.94 53.19 90.87 17.62 72.12
Interbank Rates US Dollar UK Pound Japanese Yen Euro
95.9751 153.3969 1.1955 122.8577
Dollar East BUY US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
SELL
95.60 121.09 151.30 1.1773 94.80 12.12 25.85 25.25 97.76
96.20 123.02 153.67 1.1957 96.79 12.36 26.23 25.59 100.75
SSGC Managing Director Siddiqui resigns KARACHI: Azim Iqbal Siddiqui, the managing director of Sui Southern Gas Company (SSGC), has tendered his resignation from the office on what an offical statement said personal grounds. Siddiqui is going to be replaced, as has been decided by the company’s Board of Directors, by DMD (Corporate Services) Zuhair Siddiqui from November 8. Zuhair has been serving the company for the last 10 years at various senior management positions. Siddiqui’s resignation was placed before the company’s Board of Directors in an emergent meeting of the Board held under the chairmanship of Salim Abbas Jilani on Saturday November 3 at the SSGC’s head office. After detailed deliberations, the Board accepted Siddiqui’s resignation that would take effect from Nov 8. The Board of Directors paid glowing tributes for the selfless services rendered by Siddiqui for the company during his marathon association that spanned over 35 illustrious years. The Board unanimously resolved that Siddiqui had a highly commendable career that was laced with colossal display of commitment, proven leadership abilities, sheer adherence to transparency and above all with an exemplary sense of belonging to the company. STAFF REPORT
CORPORATE CORNER P&G, No 3 on world’s Most Attractive Employers list
KARACHI: Rabya Chaudhry and Tapu Javeri recieved the best dressed awards on the opening day of FPW. Sania Saeed and Ayyan were selected as the best dressed celebrities on the day 2. On the final day of FPW Nomi Ansari and Safinaz Muneer bagged the Q Mobile Best Dressed celebrity Awards.
IMC crosses 500,000 vehicles local production milestone KARACHI: Indus Motor Company Limited (IMC) has successfully completed production of 500,000 vehicles in Pakistan. The event was celebrated by a ribbon-cutting ceremony performed at the Indus Motors plant by the Chief Guest, Dr. Abdul Hafeez Sheikh, Federal Minister for Finance, Guest of Honour, Mr. Yukitoshi Funo, Executive Vice President, Toyota Motor Corporation, Japan, Mr. Junzo Shimizu, Chairman Toyota Tsusho Corporation and senior management of Indus Motor Company. Speaking on the occasion, Dr. Abdul Hafeez Sheikh said, “I congratulate Indus Motors on this remarkable achievement and note with great pleasure the impressive progress that Indus Motor Company has made as a flagship company in the country’s auto sector. IMC has stateof-the-art production facilities which are a key asset for the nation’s vibrant auto industry. The sector is already contributing 1.5 % of total FBR collections and providing employment to thousands. As a core sector, I firmly believe that we need to protect our auto industry and take it to greater levels of productivity.”
KARACHI: P&G has yet again secured a place amongst the World’s Most Attractive Employers in Universum’s annual survey for 2012. The company ranked 3rd overall among business students and held steady at #10 among students studying technical disciplines such as engineering and the sciences. The #3 business ranking is the highest position P&G has ever held in the survey rising four places from its previous ranking. P&G jumped ahead of Ernst & Young and Price Waterhouse Coopers, two of the ‘Big 4’ accounting firms that are known for their large campus programs and who have historically been entrenched in the top three spots. This ranking is based on Universum’s global research on the preferences of more than 144,000 students. Universum is the global leader in employer branding. It surveys thousands of students and professionals to provide Ideal Employer ™ research and strategic consulting services to more than 1,200 clients worldwide.
PESHAWAR: Emirates recently inaugurated a new sales office at Bacha Khan International Airport, Peshawar. Picture shoes Mr Khalif Bardan (left) Emirates’ Vice President, Pakistan along with officials from Civil Aviation Authority (CAA) inaugurating the office.
PepsiCo Pakistan and TCF volunteers plant trees.
‘Make your day healthy, the juicy way’
LAHORE: A clean and salubrious neighbourhood can only be possible through the plantation of trees which not only beautify our surroundings but also act in time as lungs for us, purifying the air and giving fresh strength to our people. This was stated by Mr. Jahanzeb Khan, Country Manager PepsiCo (Pakistan & Afghanistan Beverages), while launching a tree-planta-
LAHORE: Tetra Pak, world’s leading food processing and packaging company, has last week launched a new communication campaign to create awareness about the nutritional benefits of drinking safe and healthy juices, especially as part of the breakfast meal. The objective of the campaign is to create consumer awareness about the value of complementing meals with a healthy beverage in convenient and safe Tetra Pak packaging. It also highlights the importance of packaged juices as a vital component of a balanced diet. “Packaged juices have always been the product of choice for health conscious consumers who want to stay active and healthy. The six layered Tetra Pak cartons protect nutritional value of the juice without the need of any preservatives. Conveniently available from grocery stores and other retail outlets, packaged juices are the perfect dietary complement for all meals, especially breakfast which is the most important meal of the day,” remarks Kashif Bhatti, Marketing Director Tetra Pak Pakistan.
G4S shares in Wackenhut Pakistan bought out KARACHI: The shares of G4S, a FTSE 100 listed company, in Wackenhut Pakistan Private Limited (WPPL)has been bought completely by its Pakistani partner. Ikram Sehgal, Chairman of Wackenhut, already owned 50 per cent stake in the company. The share purchase has been registered with the Security and Exchange Commission of Pakistan (SECP).Ikram Sehgal said that the buyout wasprimarily driven by the Pakistan government’s decision not to allow any foreign shareholding in private security agencies in the country. He declined to disclose other reasons which prompted the buyout but said G4S had offered him more than a fair price for his shares but that he had declined the generous offer, he again did not share the reasons why. Even though they will never acknowledge it, for G4S this is certainly a great setback.
tion campaign in Sundar Industrial Estate on the suburbs of Lahore. The tree plantation drive by PepsiCo Pakistan aptly titled as ‘GO GREEN – GROW GREEN’ is aimed at engaging the community and multiple stakeholders from different walk of lives to understand and realise the value of clean neighbourhood and contribute to the cause by planting a saplings within their homes and neighbourhood. Speaking on the occasion, Jahanzeb Khan said that the idea behind the plantation drive was also to “bring our internal and external stakeholders together for one cause and to let them serve on the purpose to care the world we live in”. In order to avoid maximum losses in case of natural disasters, it is the need of time to enhance plantation in Pakistan that would not only make the country look more attractive than before but will also be helpful in combating the disasters like floods, and earthquake that are appearing more frequently as a result of the global climate change, he further added.
Tuesday, 6 November, 2012